2013-05-15T10:53:39-05:00 2012-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2011-07-01 060776644 SACRED HEART UNIVERSITY INCORPORATED SACR 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 MICHAEL J KINNEY 2033717872 2013-05-15 1 ELIZABETH SOLECKI P00235171 8605614000 2011 2016-02-24 21:20:13Z JOHN PETILLO 5151 PARK AVENUE FAIRFIELD CT 06825 196712030 0 X WWW.SACREDHEART.EDU X 1963 CT THE UNIVERSITY IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE AND GRADUATE DEGREES, AS WELL AS CONTINUING EDUCATION IN A VARIETY OF DISCIPLINES, WITH A COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION. 22 20 3351 150 324688 -142844 10945011 12935689 172120259 180430118 6311737 3092472 48815 -106244 189425822 196352035 38022834 39371382 0 0 69004880 75414936 0 0 1359818 59644436 64308691 166672150 179095009 22753672 17257026 336302823 333780638 166466851 153264596 169835972 180516042 X AT SACRED HEART UNIVERSITY, WE NOT ONLY PREPARE STUDENTS FOR THE FUTURE, BUT ALSO GIVE THEM A DEEPER APPRECIATION OF WHO THEY ARE AND ALL THEY CAN BE. THROUGH OUR DISTINCTIVE MISSION AND COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION, WE HELP STUDENTS HELP OTHERS AND, TOGETHER, WE MAKE A DIFFERENCE IN THE WORLD. THE SHU MISSION: THE PURSUIT OF TRUTH AND KNOWLEDGE AS INTRINSICALLY VALUABLE; COMMITMENT TO EXCELLENCE IN ALL THAT WE DO; RESPONSIBILITY FOR THE COMMON GOOD OF SOCIETY; RECOGNITION OF THE DIGNITY AND WORTH OF EVERY HUMAN BEING; PRESERVATION, TRANSMISSION AND DEVELOPMENT OF THE LIBERAL ARTS AND CATHOLIC INTELLECTUAL TRADITION. OUR VISION IS TO SHAPE GRADUATES KNOWLEDGEABLE OF SELF, ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, RESPONSIVE TO SOCIAL AND CIVIC OBLIGATIONS AND ABLE TO RESPOND TO AN EVER-CHANGING WORLD. 0 0 58485618 150236768 SACRED HEART CONTINUES TO OFFER A WIDE RANGE OF UNDERGRADUATE AND GRADUATE PROGRAMS. REGARDLESS OF WHAT UNDERGRADUATE PROGRAM OR GRADUATE STUDIES ARE CHOSEN, OUR FOCUS ON ACADEMIC OPPORTUNITIES - ROOTED IN THE CATHOLIC INTELLECTUAL TRADITION AND THE PRINCIPLES OF ENGAGED LEARNING - CREATES AN ABSORBING, CUSTOMIZED EDUCATIONAL EXPERIENCE FOR EACH STUDENT. 39371382 39371382 0 SACRED HEART UNIVERSITY'S STUDENT FINANCIAL ASSISTANCE OFFICE IS COMMITTED TO HELPING STUDENTS AND THEIR FAMILIES FIND THE MOST AFFORDABLE OPTIONS AVAILABLE FOR ATTENDING COLLEGE. FOR FULL-TIME UNDERGRADUATE STUDENTS, THERE ARE BASICALLY TWO TYPES OF FINANCIAL ASSISTANCE: FIRST, TRADITIONAL MERIT OR NEED-BASED MERIT AID; AND SECOND, A RANGE OF OTHER OPTIONS OPEN TO STUDENTS AND THEIR FAMILIES WHETHER THEY QUALIFY FOR TRADITIONAL AID OR NOT. SEVERAL FINANCIAL ASSISTANCE OPTIONS ARE ALSO AVAILABLE TO QUALIFIED PART-TIME UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. 21267577 26346430 AUXILIARY SERVICES PROVIDE ROOM AND BOARD FOR STUDENTS. THE OFFICE OF RESIDENTIAL LIFE SERVES THE RESIDENTIAL STUDENT POPULATION BY PROVIDING OPPORTUNITIES TO LIVE IN A SAFE, COHESIVE, LEARNING COMMUNITY WHILE EMPOWERING THOSE STUDENTS TO CONTINUALLY DEVELOP MENTALLY, PHYSICALLY, SOCIALLY, AND SPIRITUALLY. 36522654 3522232 OTHER GENERAL AND STUDENT SERVICES. 36522654 3522232 155647231 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 604 0 1 3351 1 1 1 1 EI LU 0 0 0 1 1 0 0 0 0 0 X 22 20 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL J KINNEY 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 MOST REVEREND WILLIAM E LORI STD 1.00 X X 0 0 0 JAMES J COSTELLO 1.00 X X 0 0 0 MARY-ANN BUNTING 1.00 X 0 0 0 WILLIAM E MITCHELL 1.00 X 0 0 0 JAMES T MORLEY JR 1.00 X X 0 0 0 REV MSGR WILLIAM A GENUARIO JCD 1.00 X 0 0 0 ROBERT J MATURA 1.00 X 0 0 0 LINDA E MCMAHON 1.00 X 0 0 0 LOIS SCHINE 1.00 X 0 0 0 JEFFREY A SONNENFELD DBA 1.00 X 0 0 0 REV MSGR KEVIN W WALLIN 1.00 X 0 0 0 FRANK R MARTIRE 1.00 X 0 0 0 ROBERT L CORCORAN 1.00 X 0 0 0 ROBERT L JULIANELLE JD 1.00 X X 0 0 0 CHRISTOPHER K MCLEOD 1.00 X 0 0 0 ROSANNE BADOWSKI 1.00 X 0 0 0 VINCENT MAFFEO 1.00 X 0 0 0 NORBERT BECKER 1.00 X 0 0 0 PATRICK J CAROLAN MD 1.00 X 0 0 0 LAWRENCE G FOLEY 1.00 X 0 0 0 REV ROBERT M KINNALLY 1.00 X 0 0 0 JOHN J PETILLO 35.00 X X 593953 0 35557 MICHAEL J KINNEY 35.00 X 280394 0 28363 THOMAS V FORGET PHD 35.00 X 275120 0 26109 MICHAEL LAROBINA 35.00 X 130376 0 9659 LAURA NIESEN DE ABRUNA 35.00 X 13692 0 0 JAMES BARQUINERO 35.00 X 232825 0 22201 MARY P YOUNG 35.00 X 399067 0 19601 ROBERT M HARDY 35.00 X 189635 0 16106 ANTHONY J CERNERA 35.00 X 522399 0 27557 PATRICIA W WALKER 35.00 X 199865 0 17474 RUPENDRA PALIWAL 35.00 X 230236 0 10200 DAVID COPOLLA 35.00 X 181232 0 26990 JAMES CAREY 35.00 X 180909 0 18445 3429703 0 258262 70 0 1 0 PAVARINI NORTH EAST CONSTRUCTION CO 1111 SUMMER STREET STAMFORD CT 06905 CONSTRUCTION SERVICES 13738270 CHARTWELL'S HIGHER EDUCATION C/O BANK OF AMERICA PO BOX 91337 CHICAGO IL 606931853 FOOD SERVICES 7188946 LANESE CONSTRUCTION INC 190 CALHOUN AVENUE BRIDGEPORT CT 06604 CONSTRUCTION SERVICES 2802689 TURNER CONSTRUCTION COMPANY 440 WHEELER FARMS ROAD MILFORD CT 06461 CONSTRUCTION SERVICES 2024401 DELTAK EDU INC 1415 WEST 22ND STREET OAK BROOK IL 60523 ONLINE EDUCATION SERVICES 1718543 90 752203 3142880 9040606 600347 12935689 TUITION AND FEES 611310 150236768 150236768 AUXILIARY ACTIVITIES 611310 26346430 26346430 OTHER INCOME 900099 2140511 1862718 277793 PITT CENTER & ATHLETIC 611310 1706409 1659514 46895 180430118 1908735 1908735 112681 149420 -36739 -36739 -36739 1183737 0 1183737 1183737 1183737 141070 752203 210575 -69505 -69505 196352035 180105430 324688 2986228 39371382 39371382 2088805 826055 1262750 369747 369747 56205517 49510470 5706801 988246 3203601 2717895 485706 9467281 8332740 1134460 81 4079985 3461408 618577 657505 37680 619825 219214 219214 655547 655547 24537462 19755152 4456219 326091 1236465 1194375 33489 8601 10508118 9528922 964580 14616 2034746 1891977 129418 13351 450506 378783 68878 2845 4549023 3441021 1108002 9781832 8782452 999380 1847939 835615 1012324 CONTRACT SERVICES 5123810 3480318 1643492 PURCHASING 2706524 2100986 599551 5987 179095009 155647231 22087960 1359818 12056351 13639305 3877991 3797754 1441612 1566922 292583880 111332008 156211072 181251872 109454420 112572913 53261377 20951872 336302823 333780638 18388754 18270628 6348510 8377567 124835315 114334341 16618013 11973533 276259 308527 166466851 153264596 X 146092591 157036995 11778020 11351507 11965361 12127540 169835972 180516042 336302823 333780638 X 17257026 -6576956 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11200 X 0 108336892 5514054 54371 521859 655547 112727911 81912232 6318543 21349512 636823 606572 108336892 67039061 6641974 8570742 339545 81912232 75715465 5501555 -12772805 474106 569523 361525 67039061 0.85000 0.15000 0.00000 0 0 12388157 12388157 151374103 40897398 110476705 68235262 27417682 40817580 42293417 34199248 8094169 18292941 8817680 9475261 181251872 LAND HELD FOR SALE 2700000 INTEREST IN SPLIT-INTEREST AGREEMENTS 225873 FUNDS HELD BY BOND TRUSTEE 14512318 OTHER ASSETS 2870393 PREPAID EXPENSES 643288 20951872 GOVERNMENT GRANTS REFUNDABLE - STUDENT LOANS 308527 308527 196352035 179095009 17257026 -3175016 -3401940 -6576956 10680070 150108149 -3175016 -43428865 -46603881 196712030 -359995 -359995 196352035 139428079 360000 360000 139068079 40026930 40026930 179095009 PART III, LINE 4: WORKS OF ART ARE CONTRIBUTED TO THE UNIVERSITY FROM VARIOUS DONORS. THE SCHOOL EXHIBITS THEM IN THE CAMPUS GALLERY FOR PUBLIC VIEWING. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY USES THE FUNDS FOR STUDENT SCHOLARSHIPS, TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES TO MAINTAIN AND EXPAND THE UNIVERSITY CAPITAL INFRASTRUCTURE IN ORDER TO MAINTAIN THE UNIVERSITY'S FINANCIAL STABILITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN JUNE 2006, THE FASB ISSUED FASB INTERPRETATION NO. 48 (FIN 48), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND INTERPRETATION OF FASB STATEMENT NO. 109. FIN 48 ADDRESSES THE ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FIN 48 ALSO PROVIDES RELATED GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES. THERE WAS NO SIGNIFICANT IMPACT ON THE UNIVERSITY'S FINANCIAL STATEMENTS AS A RESULT OF THE ADOPTION OF FIN 48. PART XI, LINE 8 - OTHER ADJUSTMENTS: WRITE-OFF OF DEFERRED FINANCING COSTS -2,151,935. ADJUSTMENT OF CONTRIBUTIONS RECEIVABLE -600,000. PROVISION FOR LAND HELD FOR SALE -650,000. MISC. ADJUSTMENT -5. TOTAL TO SCHEDULE D, PART XI, LINE 8: -3,401,940. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -39,371,382. INVESTMENT FEES -655,547. WRITE-OFF OF PLANNING COSTS -2,151,935. PROVISION FOR LAND HELD FOR SALE -650,000. ADJUSTMENT OF CONTRIBUTIONS RECEIVABLE -600,000. MISC. ADJUSTMENT -1. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -210,575. RENTAL EXPENSES -149,420. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 210,575. RENTAL EXPENSES 149,420. MISC. ADJUSTMENT 5. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 39,371,383. INVESTMENT FEES 655,547. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE UNIVERSITY IS COMMITTED TO FULLFILLING ITS MISSION WITHOUT DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN STATUS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 SACRED HEART UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION. THE FUNDS THAT THE UNIVERSITY RECEIVES ARE PELL GRANT, SEOG GRANT AND FEDERAL WORK-STUDY WHICH ARE FINANCIAL AID PROGRAMS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - 2 4 PROGRAM SERVICES EDUCATIONAL 837209 2 4 0 0 2 4 837209 0 837209 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: IRELAND: SACRED HEART UNIVERSITY OFFERS PERHAPS THE MOST IMMERSIVE IRISH STUDIES PROGRAM ANYWHERE, AS STUDENTS HAVE THE MATCHLESS OPPORTUNITY TO DELVE INTO IRISH CULTURE IN THE HEART OF THE IRISH-SPEAKING DINGLE GAELTACHT REGION. HERE, STUDENTS DON'T JUST STUDY IN IRISH SURROUNDINGS, THEY LIVE THE IRISH EXPERIENCE THROUGH HANDS-ON SEMINARS LEAD BY ACCOMPLISHED SCHOLARS AND LOCAL EXPERTS. ALL OF OUR COURSES FEATURE ACTIVE PARTICIPATION - BOTH IN AND OUT OF THE CLASSROOM. WHAT DEVELOPS IS A PROFOUND UNDERSTANDING OF CELTIC CULTURE, AS WELL AS A GREATER APPRECIATION OF DIVERSE SOCIETIES, RITUAL AND CELEBRATION IN THE MODERN WORLD, AND THE STIRRING CONNECTIONS BETWEEN THE AGES. LUXEMBOURG: THE JOHN F. WELCH COLLEGE OF BUSINESS IS SUCH AN EXCITING LEARNING COMMUNITY OFFERING AN MBA CURRICULUM THAT EMPHASIZES A GLOBAL BUSINESS EDUCATION. STUDENTS STUDYING ON THE LUXEMBOURG CAMPUS BENEFIT FROM A SEASONED FACULTY OF INTERNATIONAL SCHOLARS AND PRACTITIONERS FROM BOTH THE US AND EUROPE WHO CAN PROVIDE PERSONAL ATTENTION TO EACH STUDENT. AS LUXEMBOURG IS AN INTERNATIONAL, VIBRANT, AND DYNAMIC PLACE TO STUDY, MANY STUDENTS ARE WORKING PROFESSIONALS FROM DIFFERENT CULTURAL BACKGROUNDS. MANY ARE ACCOMPLISHED PROFESSIONALS IN THEIR FIELD THAT ENRICH CLASSROOM DISCUSSIONS AND ADD SPECIFIC VALUE TO THE PROGRAM. WHAT FURTHER SETS THE PROGRAM APART IS THE STRONG EMPHASIS ON THE DEVELOPMENT OF AN INDIVIDUAL LEADERSHIP STYLE. AS A CONSEQUENCE, OUR STUDENTS NOT ONLY IMPROVE THEIR CRITICAL THINKING AND PROBLEM SOLVING SKILLS, BUT ARE ALSO ENGAGED IN DEVELOPING THEIR ETHICAL STANDARDS AND GLOBAL UNDERSTANDING. PIONEER GOLF TOURNAMENT 243892 177214 66678 19082 25000 15450 DISCOVER DINNER 522777 480777 42000 10000 72292 2 126604 94212 32392 1320 21925 45506 893273 752203 141070 20402 56925 133248 210575 -69505 1 SEOG 308 328987 CONNECTICUT INDEPENDENCE COLLEGE SCHOLARSHIPS 622 1907896 RESIDENCE HALL ASSISTANT WAIVERS AND AWARDS 84 643489 OTHER SCHOLARSHIPS WHICH ARE NEEDS BASED OR BASED ON ATHLETIC OR ACADEMIC TALENTS 3670 36491010 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE THREE AREAS OF FINANCIAL ASSISTANCE TO STUDENTS ARE LOANS, GRANTS, AND EMPLOYMENT (WORK-STUDY). THESE ARE GENERALLY AWARDED ON THE BASIS OF FINANCIAL NEED, DETERMINED BY AN ANALYSIS OF FAMILY INCOME AND ASSETS. SCHOLARSHIPS ARE ANOTHER SOURCE OF FINANCIAL ASSISTANCE. THEY ARE AWARDED ON THE BASIS OF ACADEMIC ACHIEVEMENT, EXCELLENCE IN ATHLETICS OR SPECIAL TALENTS, AND COMMUNITY SERVICE OR LEADERSHIP. CRITERIA FOR SOME MERIT BASED AWARDS ALSO INCLUDE A FINANCIAL NEEDS REQUIREMENT. CURRENTLY THOSE STUDENTS WHO DEMONSTRATE THE GREATEST FINANCIAL NEED RECEIVE THE MOST FINANCIAL ASSISTANCE. THE UNIVERSITY MONITORS THE AMOUNT ISSUED BY PERFORMING A COST OF ATTENDANCE CALCULATION. ONCE THE AMOUNT HAS BEEN DETERMINED FOR THE INDIVIDUAL, IT IS THEN DISPERSED TO THE STUDENT'S ACCOUNT AND IS CONTROLLED BY THE BURSAR'S OFFICE. X X 1 1 X X X X X X 1 0 0 1 0 1 0 1 1 1 JOHN J PETILLO 299447 0 210000 0 84506 0 27600 0 7957 0 629510 0 0 0 MICHAEL J KINNEY 214063 0 59242 0 7089 0 22346 0 6017 0 308757 0 0 0 THOMAS V FORGET PHD 191025 0 44663 0 39432 0 19392 0 6717 0 301229 0 0 0 JAMES BARQUINERO 183081 0 45634 0 4110 0 18586 0 3615 0 255026 0 0 0 MARY P YOUNG 21404 0 0 0 377663 0 18111 0 1490 0 418668 0 0 0 ROBERT M HARDY 148156 0 36969 0 4510 0 14906 0 1200 0 205741 0 0 0 ANTHONY J CERNERA 342043 0 0 0 180356 0 19600 0 7957 0 549956 0 0 0 PATRICIA W WALKER 157054 0 32000 0 10811 0 12928 0 4546 0 217339 0 0 0 RUPENDRA PALIWAL 127500 0 28125 0 74611 0 10200 0 0 0 240436 0 0 0 DAVID COPOLLA 142978 0 31164 0 7090 0 12590 0 14400 0 208222 0 0 0 JAMES CAREY 145175 0 29625 0 6109 0 12120 0 6325 0 199354 0 0 0 PART I, LINE 1A THE UNIVERSITY FUNDS A GOLF CLUB MEMBERSHIP IN THE NAME OF AN OFFICER. THE MEMBERSHIP IS USED FOR UNIVERSITY EVENTS AND THE ENTERTAINMENT OF PROSPECTIVE DONORS AND CONTRIBUTORS. THE GOLF COURSE IS ALSO AVAILABLE FOR THE UNIVERSITY GOLF TEAM PRACTICES. PART I, LINE 4A THE FOLLOWING INDIVIDUAL RECEIVED SEVERANCE PAYMENTS DURING CALENDAR YEAR 2011: MARY YOUNG - $325,000 PART I, LINE 5 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING BUDGETED REVENUE GOALS. PART I, LINE 6 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING THE TRANSFER TO THE TRUSTEE RESERVES. SENIOR STAFF MEMBERS HAVE PERFORMANCE MEASURES FOR MANAGING THE UNIVERSITY TO MAINTAIN A BALANCED BUDGET. PART I, LINE 7 THERE ARE QUANTITATIVE MEASURES THAT ARE APPLIED IN DETERMINING BONUSES TO SENIOR STAFF MEMBERS. THE PRESIDENT AND THE BOARD HAVE DISCRETION TO ADJUST THE PAYMENTS FOR UNUSUAL CIRCUMSTANCES. IN ALL CASES, THESE PAYMENTS ARE REVIEWED WITH AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. PART I, LINE 8 JOHN J. PETILLO, PRESIDENT/CEO OF SHU, WAS IN HIS INITIAL CONTRACT WITH THE UNIVERSITY DURING THE FISCAL YEAR. SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART I, LINE 3 - COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. THE DELIBERATION AND DECISION ARE CONTEMPORANEOUSLY DOCUMENTED. SACRED HEART UNIVERSITY - SERIES F 060776644 20774LD93 2003-12-11 21700000 RESIDENTIAL HOUSING 0 0 0 SACRED HEART UNIVERSITY - SERIES G 060776644 20774U7W9 2011-06-29 44158819 CONSTRUCTION PROJECTS, REFINANCE OF DEBT, (SEE PART VI) 0 0 0 SACRED HEART UNIVERSITY - SERIES H 060776644 20774YFA0 2012-02-14 47740000 REFUNDING OF SERIES E BONDS ISSUED 12/1/98. (SEE PART VI) 0 0 0 2240000 21700000 157224 433932 173254 21092814 2005 0 0 1 1 44158819 3182069 11873235 875145 28223370 5000 1 0 0 1 51549213 51548514 699 2012 1 0 1 1 0 0 1 1 0 0.00350 0.00000 0.00350 1 0 0 1 1 0 0.00020 0.00000 0.00020 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X PART 1 B (F) CONTINUED - REFUNDING AND DEFEASANCE OF EARLIER BOND ISSUE SERIES C (ISSUE DATE 4/24/1996) PART 1 C (F) CONTINUED - SERIES H INCLUDED NO PROJECTS. ALL PROCEEDS WERE USED TO REFUND SERIES E ISSUE. SCHINE JULIANELLE & ANTONUCCI PC OWNER - ROBERT JULIANELLE, SECRETARY/TRUSTEE 303124 LEGAL SERVICES 0 SCHEDULE L, PART IV: ROBERT L. JULIANELLE SERVES AS A TRUSTEE, SECRETARY OF THE BOARD OF TRUSTEES AND THE CORPORATION AND AS GENERAL COUNSEL. LEGAL SERVICES, PROVIDED AT PREVAILING RATES LESS A DISCOUNT, ARE PERFORMED BY MR. JULIANELLE THROUGH THE LAW FIRM OF SCHINE, JULIANELLE, & ANTONUCCI, P.C. MR. JULIANELLE IS THE SUBSTANTIAL PRINCIPAL OF THE LAW FIRM. MOST LEGAL SERVICES ARE PERFORMED BY MR. JULIANELLE, SOME BY OTHER MEMBERS OF THE LAW FIRM. AS GENERAL COUNSEL, MR. JULIANELLE PROVIDES LEGAL ADVICE, CONSULTATION AND SERVICES PERTAINING TO ALL ASPECTS OF THE UNIVERSITY, INCLUDING, BUT NOT LIMITED TO, CONTRACTS, REAL ESTATE, LEASES, EMPLOYMENT ISSUES, FACULTY ISSUES, AND THE OVERSIGHT OF LITIGATION. SPECIALIZED LEGAL COUNSEL IS RETAINED FOR LITIGATION, TAX AND PENSION, LABOR AND INTELLECTUAL PROPERTY MATTERS, AND OTHER MATTERS WHICH APPROPRIATELY REQUIRE SUCH REPRESENTATION. AN ANNUAL CONFLICT OF INTEREST FORM IS FILED BY MR. JULIANELLE TO THE AUDIT COMMITTEE IN ACCORDANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. AN ANNUAL REPORT OF FEES IS FURNISHED TO THE AUDIT COMMITTEE. THERE ARE NO CHARGES FOR ACTING AS SECRETARY OR AS TRUSTEE. X 3 11200 APPRAISAL X 5500 FMV X 1 2100 FMV X 1 4600 FMV X 11 409080 FMV X RAFFLE GIFTS 103 21002 FMV X OTHER SUNDRY 406 146865 FMV 1 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FOLLOWING IS THE SUCCESSION OF THE REVIEWS THAT OCCUR PRIOR TO FILING FORM 990. REVISIONS TO THE RETURN MAY BE MADE AT ANY POINT PRIOR TO FINAL FILING OF THE RETURN: THE RETURN IS PREPARED BY AN OUTSIDE PREPARER WITH THE ASSISTANCE OF THE ACCOUNTING STAFF. THE RETURN IS THEN INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES OF THE RETURN ARE PROVIDED TO THE PRESIDENT, EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, THE CONFLICT OF INTEREST POLICY IS REVIEWED. ALL KEY EMPLOYEES, TRUSTEES AND OFFICERS OF THE UNIVERSITY ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS AS APPROPRIATE, SIGN, AND SUBMIT THE FORMS TO THEIR MANAGER OR BOARD SECRETARY FOR REVIEW AND SIGNATURE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GUIDESTAR.ORG POSTS THE UNIVERSITY'S 990 FILING ANNUALLY. THIS MAKES THE 990 WIDELY AVAILABLE THROUGH THE INTERNET. COPIES ARE ALSO MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. GOVERNING DOCUMENTS AND THE ANNUAL FINANCIAL REPORT ARE MADE AVAILABLE TO BOARD MEMBERS AND IN COMPLIANCE WITH DEBT COVENANTS. UNIVERSITY EMPLOYEE AND FACULTY HANDBOOKS ARE POSTED ON THE UNIVERSITY WEBSITE. IN ADDITION, ALL STAFF AND FACULTY RECEIVE A HARD COPY. THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISTRIBUTED ONLY TO KEY EMPLOYEES, DIRECTORS, AND OFFICERS OF THE UNIVERSITY TO SIGN AND RETURN. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -3,175,016. WRITE-OFF OF DEFERRED FINANCING COSTS -2,151,935. ADJUSTMENT OF CONTRIBUTIONS RECEIVABLE -600,000. PROVISION FOR LAND HELD FOR SALE -650,000. MISC. ADJUSTMENT -5. TOTAL TO FORM 990, PART XI, LINE 5: -6,576,956. FORM 990, PART XII, LINE 2C: THE FINANCIAL STATEMENTS AND TAX RETURN ARE INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES ARE THEN PROVIDED TO THE PRESIDENT AND MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO COMPLETION AND FILING. FORM 990, PART V, LINE 7H: THE UNIVERSITY IS CURRENTLY IN THE PROCESS OF FILING FORM 1098-C FOR THE GIFT OF A BOAT.