2012-05-14T13:51:14-05:00 2011-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2010-07-01 042104229 Stonehill College Inc STON 5085651345 320 Washington Street Easton MA 02357 JEANNE M FINLAYSON 2012-05-07 true PRICEWATERHOUSECOOPERS LLP 6175305000 2010 2016-02-24 21:20:13Z Rev Mark Cregan 320 WASHINGTON STREET EASTON MA 023576262 141636627 false X http://www.stonehill.edu X 1934 MA SEE SCHEDULE O 36 34 1882 1540 138919 10419086 5411701 104239548 115742477 4001706 2136931 21668 50772 118682008 123341881 27888800 30242536 0 0 45762022 49910901 44184 36616 2290295 33310529 38235021 107005535 118425074 11676473 4916807 305731509 327396753 122913635 115044595 182817874 212352158 X SEE SCHEDULE O false false 99338360 30242536 115742477 STONEHILL IS A SELECTIVE CATHOLIC COLLEGE LOCATED NEAR BOSTON ON A BEAUTIFUL 375-ACRE CAMPUS IN EASTON, MASSACHUSETTS. WITH A STUDENT:FACULTY RATIO OF 13:4, THE COLLEGE ENGAGES 2,582 STUDENTS IN 80+ RIGOROUS ACADEMIC PROGRAMS IN THE LIBERAL ARTS, SCIENCES, AND PRE-PROFESSIONAL FIELDS. THE STONEHILL COMMUNITY HELPS STUDENTS TO DEVELOP THE KNOWLEDGE, SKILLS, AND CHARACTER TO MEET THEIR PROFESSIONAL GOALS AND TO LIVE LIVES OF PURPOSE AND INTEGRITY. 99338360 true true false true false false false true false true true true false false true false true false true false true false false true true false false false true true true false false false false false false false false false true true false false false false false false false false false true 364 0 true 1882 true true true false false false false true true false false false false X 36 34 true false false false true true false true true false false true true true true true true true true false MA X X JEANNE M FINLAYSON VP FINANCE 5085651337 320 WASHINGTON STREET EASTON MA 023576262 Rev Mark Cregan CSC 35.0 X X 0 0 38922 REV James E MacDonald CSC JD 1.0 X 0 0 0 Leo J Meehan III 1.0 X 0 0 0 REV Mark L Poorman CSC PHD 1.0 X 0 0 0 Carmel A Shields Esq MBA 1.0 X 0 0 0 William F Devin 1.0 X 0 0 0 Paul A Finn Esquire 1.0 X 0 0 0 Daniel Somers 1.0 X 0 0 0 DR Marsha A Moses PHD 1.0 X 0 0 0 BRO John Rhodes Paige CSC PHD 1.0 X 0 0 0 REV John J Ryan CSC PHD 1.0 X 0 0 0 Thomas J Lucey CSC MDiv STL 1.0 X 0 0 0 Thomas J May 1.0 X 0 0 0 REV Anthony R Grasso CSC PHD 1.0 X 0 0 0 Michael W Herlihy 1.0 X 0 0 0 Lawrence Salameno JD 1.0 X 0 0 0 Elizabeth G Hayden MEd 1.0 X 0 0 0 Theresa A Salameno 1.0 X 0 0 0 Daniel P Devasto 1.0 X 0 0 0 John E Drew MSSS 1.0 X 0 0 0 BRO Thomas A Dziekan CSC 1.0 X 0 0 0 REV David T Tyson CSC 1.0 X 0 0 0 Patrick W Griffin 1.0 X 0 0 0 REV Lawrence M Olszewski CSC 1.0 X 0 0 0 Sherrie A Ryan 1.0 X 0 0 0 Thomas F Bogan 1.0 X 0 0 0 Daniel J Coughlin Jr 1.0 X 0 0 0 REV William R Dailey CSC 1.0 X 0 0 0 REV Daniel J Issing CSC 1.0 X 0 0 0 Kathleen Miller 1.0 X 16837 0 0 F Robert Salerno 1.0 X 0 0 0 REV HUGH R PAGE JR PHD 1.0 X 0 0 0 REV THOMAS P LOONEY CSC 1.0 X 0 0 0 ALAN J JULIANO 1.0 X 0 0 0 SHERILYN MCCOY 1.0 X 0 0 0 JAMES J CLARK 1.0 X 0 0 0 Thomas V Flynn 35.0 X 131323 0 35459 Jeanne M Finlayson 35.0 X 216321 0 59253 Roger Goode 35.0 X 157117 0 55672 Francis Dillon 35.0 X 193614 0 35048 Sheila Conboy 35.0 X 209154 0 93755 Craig Binney 35.0 X 156244 0 87206 Joseph Favazza 35.0 X 159263 0 56737 MARY BETH CAREY 35.0 X 357710 0 21139 PAUL J DAPONTE 35.0 X 73435 0 3381 TAMARA ANDERSON 35.0 X 135731 0 36555 JAMES LEE 35.0 X 131534 0 34986 MARYJEAN CROWE 35.0 X 123520 0 10251 ROBERT ROSENTHAL 35.0 X 121204 0 22682 STEPHEN BEAUREGARD 35.0 X 118055 0 34208 2301062 0 625254 54 false true false Walsh Brothers 210 Commercial Street BOSTON MA 02109 Construction 13935973 SODEXO INC AFFILIATES C/O DINING SERVICES 320 WASHINGTON NORTH EASTON MA 02357 Food Service 4945748 AUBURN CONSTRUCTION CO INC PO BOX 287 1207 AUBURN ST WHITMAN MA 02382 Construction 4869312 API 107 E HOPKINS SAN MARCOS TX 78666 Educational Services 1454649 COLUMBIA CONSTRUCTION CO 100 RIVERPARK DR PO BOX 220 NORTH READING MA 01864 Construction 1070998 58 193997 1007716 4209988 201117 5411701 TUITION AND FEES 900099 82806500 82806500 AUXILLARY SERVICES 900099 29620881 29620881 OTHER EDUCATIONAL REVENUE 900099 3315096 3315096 115742477 1300566 138919 1161647 0 0 18971886 18135521 836365 836365 836365 209997 193997 159225 50772 50772 0 0 0 123341881 115742477 138919 2048784 0 30242536 30242536 0 0 1862293 1138321 520472 203500 0 36358319 26874486 8425252 1058581 2976881 2181828 696754 98299 5844881 4283854 1368023 193004 2868527 2102413 671393 94721 0 52269 346 51873 50 238396 238396 0 36616 36616 0 1683932 1026618 647568 9746 521421 18907 501334 1180 2015529 1040238 816673 158618 450498 447925 2542 31 0 6331417 5824904 443199 63314 2206883 1977201 178713 50969 0 1108532 744158 270806 93568 1508308 1338472 169836 0 5674028 5479484 97703 96841 468629 415861 52768 MISCELLANEOUS EXPENSE 3830539 3229949 508436 92154 SUPPLIES 500121 470649 20123 9349 STUDY ABROAD & INTERN PRG FEES 3559983 3559983 BOOK/PERIODICALS/VIDEO 713499 691954 13181 8364 RENTALS 891454 512247 369411 9796 6479583 5736026 731963 11594 118425074 99338360 16796419 2290295 20563170 14961558 7219997 2180785 5863126 3255624 361200 538070 9332 0 1909419 1773602 79388 116610 1078738 1621733 211629563 71103848 129217553 140525715 58949209 51224346 78915397 109374876 1564980 1823834 305731509 327396753 8440028 4774282 3718603 2987630 94292667 92158415 1059349 977363 15402988 14146905 122913635 115044595 X 146006304 171431820 15365953 16912666 21445617 24007672 182817874 212352158 305731509 327396753 X 4916807 24617477 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 1 1 false Part II-B, Line 1I STONEHILL COLLEGE PAYS MEMBERSHIP DUES TO MEMBER ORGANIZATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITES ON BEHALF OF THEIR MEMBERS. THEREFORE A PORTION OF THE DUES PAID TO THESE ORGANZIATIONS MAY BE ATTRIBUTABLE TO LOBBYING ACTIVIES. X X false 127606414 2337595 26967478 1092638 4593282 151225567 115788047 2173378 15313989 786065 4882935 127606414 151026653 830098 -30211676 887993 4969035 115788047 0.79100 0.20700 0.00200 false false 752119 752119 153644088 43192980 110451108 512765 226876 285889 37121884 20830180 16291704 19598707 6853812 12744895 140525715 LIMITED PARTNERSHIPS 109374876 F 109374876 0 INTEREST RATE SWAP AGREEMENTS 6541375 INTEREST AND ACCRUED LIABILITIES 6122791 STUDENT LOANS 1203135 ANNUITY OBLIGATIONS 279604 14146905 123341881 118425074 4916807 25112408 -494931 24617477 29534284 117876046 25112408 -335706 24776702 93099344 30242537 30242537 123341881 88341762 159225 159225 88182537 30242537 30242537 118425074 PART III, LINE 1A AND LINE 4 STONEHILL COLLEGE RECORDS ITEMS OF COLLECTIONS AS A GIFT AT NOMINAL VALUE. THEY ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT STONEHILL COLLEGE. THEY ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. PART V, LINE 4 ENDOWMENT FUNDS ARE SPENT IN ACCORDANCE WITH DONOR RESTRICTIONS. THE FUNDS ARE INVESTED TO PRESERVE STONEHILL'S PURCHASING POWER WHILE PROVIDING A CONTINUING AND STABLE FUNDING SOURCE TO SUPPORT THE MISSION OF THE COLLEGE. PART X - OTHER LIABILITIES STONEHILL COLLEGE'S AUDITED FINANCIAL STATEMENTS DO NOT HAVE A FOOTNOTE REGARDING FIN 48. PART XI, LINE 8 NET LOSS ON INTEREST RATE SWAP $ (335,706) FUNDRAISING EXPENSES $ (159,225) PART XII, LINE 2d NET LOSS ON INTEREST RATE SWAP $ (335,706) PART XII, LINE 4B SCHOLARSHIPS AND OTHER AWARDS $ 30,242,537 PART XIII, LINE 2D FUNDRAISING EXPENSES $ 159,225 PART XIII, LINE 4B SCHOLARSHIPS AND OTHER AWARDS $ 30,242,537 true true true true true true true false false false false false false false false true false true See Schedule O Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD East Asia and the Pacific 0 0 Program Services STUDY ABROAD Middle East and North Africa 0 0 Program Services STUDY ABROAD South America 0 0 Program Services STUDY ABROAD Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 0 0 0 0 false false false true true false schedule F, part I, line 3 The organization does not currently track foreign expenditures for each program separately. Therefore, Pursuant to IRS guidance, disclosure in this column is not required in the current year. X X X X X X true KATHY MILLER AND ASSOCIATES LLC FUNDRAISING CONSULTING false 39000 18899 20101 Washburn Associates fundraising consulting false 17717 39000 36616 20101 MA GOLF TOURNAMENT 246489 73514 172975 3925 9184 32780 63 DINNER 197865 76615 121250 63918 1700 7735 7 153637 43868 109769 39920 597991 193997 403994 3925 9184 72700 63918 1700 7798 159225 244769 SCHEDULE G, PART I SERVICES PROVIDED BY WASHBURN & ASSOCIATES WERE NOT ASSOCIATED WITH ANY SPECIFIC FUNDRAISING EVENT. true Tuition Assistance 2140 30242536 Grants and Assistance Schedule I, Part I, Line 2 The College awards grants on a fiscal year bassed according to the overalY yearly budget. Individual awards are packaged based on an overall College strategy employing need and merit criteria. The College's financial aid office works with outside consultants to prepare packages. The financial aid office works with students to accept and/or adjust individual grants. PART III CASH GRANTS ARE CREDITS TO STUDENT ACCOUNTS. X true true X X X false false false false false false false true false Thomas V Flynn 126234 0 5000 0 89 0 14437 0 21022 0 166782 0 0 0 Jeanne M Finlayson 201047 0 15000 0 274 0 24961 0 34292 0 275574 0 0 0 Roger Goode 151922 0 5000 0 195 0 18295 0 37377 0 212789 0 0 0 Francis Dillon 167649 0 25000 0 965 0 20136 0 14912 0 228662 0 0 0 Sheila Conboy 198735 0 10000 0 419 0 24953 0 68802 0 302909 0 0 0 Craig Binney 154045 0 2000 0 199 0 18614 0 68592 0 243450 0 0 0 Joseph Favazza 154698 0 4000 0 565 0 18458 0 38279 0 216000 0 0 0 MARY BETH CAREY 149767 0 10000 0 197943 0 12856 0 8283 0 378849 0 0 0 TAMARA ANDERSON 133731 0 2000 0 0 0 15521 0 21034 0 172286 0 0 0 JAMES LEE 130400 0 0 0 1134 0 13229 0 21757 0 166520 0 0 0 STEPHEN BEAUREGARD 117966 0 0 0 89 0 13202 0 21006 0 152263 0 0 0 SCHEDULE J, PART I Stonehill College paid for professional services based on market compensation and benefits, totaling $1,061,692 to the Congregation of the Holy Cross for instructional, administrative, and institutional services. Individual members of the Congregation adhere to the vow of poverty. SCHEDULE J, Part I, Lines 1a and 1b AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF STONEHILL COLLEGE, THE PRESIDENT RECEIVED HOUSING ON CAMPUS. Schedule J, Part I, Line 7 The College has a performance-based bonus program to recognize extraordinary achievement. Employees are nominated and must be reviewed and approved by the president to receive a bonus. FORM 990, SCHEDULE J-2, PART I Kathleen Miller, board member, receives no compensation for her role as a board member. All compensation relates to her fundraising role with Stonehill College. The amount of $38,922 reported in part VII for the president, Rev. Mark Cregan, includes healthcare, an auto, and the value of housing which is provided both as a condition of employment and for the convenience of Stonehill College. MHEFA SERIES H 042456011 57585K7D4 2003-08-27 12263861 REFINANCE SERIES E 3/1/92 false false false MHEFA SERIES K 042456011 57586CV77 2008-04-03 68920000 REFINANCE SERIES I,J, PARTIAL G false false false MHEFA SERIES L 042456011 57586ELC3 2009-08-05 22197354 CONSTRUCT 250 BED RESIDENCE HALL false false false 5275000 0 12263861 833082 0 0 244504 0 16756 0 11978100 0 1992 true false true true 5565000 0 68920708 1188 0 0 352549 34777 0 0 68532674 0 2009 true false true true 0 0 22197354 1282886 0 0 385520 0 0 21811834 0 0 2010 false false true true false false true false false true 0.00000 0.01060 0.01060 true false false false false true 0.00000 0.02190 0.02190 true false false false false false true false true true BANK OF AMERICA NA 20.2 false false false true true false false false false false true SEE SCHEDULE O WB MASON TRUSTEE IS CEO 1541096 OFFICE PRODUCTS false KATHLEEN MILLER TRUSTEE IS CONSULTANT 15132 CONSULTING FEE false X 12 201117 FMV false true true Supplemental Information Schedule M, Part I Stonehill College has provided the number of contributions. Schedule M, Part I, Line 32B Stonehill College uses a State Street Global Markets, LLC brokerage account for donors to transfer stock gifts. Gifts are subsequently sold through the State Street account and the cash is distributed to the College. FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION STONEHILL COLLEGE, A CATHOLIC INSTITUTION OF HIGHER LEARNING FOUNDED BY THE CONGREGATION OF HOLY CROSS, IS A COMMUNITY OF SCHOLARSHIP AND FAITH, ANCHORED BY A BELIEF IN THE INHERENT DIGNITY OF EACH PERSON. THROUGH ITS CURRICULUM OF LIBERAL ARTS AND SCIENCES AND PRE-PROFESSIONAL PROGRAMS, STONEHILL COLLEGE PROVIDES AN EDUCATION OF THE HIGHEST CALIBER THAT FOSTERS CRITICAL THINKING, FREE INQUIRY AND THE INTERCHANGE OF IDEAS. STONEHILL COLLEGE EDUCATES THE WHOLE PERSON SO THAT EACH STONEHILL GRADUATE THINKS, ACTS, AND LEADS WITH COURAGE TOWARD THE CREATION OF A MORE JUST AND COMPASSIONATE WORLD. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION A, LINE 2 LARRY SALAMENO AND THERESA SALAMENO HAVE A FAMILY AND BUSINESS RELATIONSHIP. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION A, LINES 6 AND 7A STONEHILL COLLEGE HAS TWO CLASSES OF MEMBERS: INCORPORATORS AND FELLOWS. THE INCORPORATORS CONSIST OF THE PROVINCIAL OF THE EASTERN PROVINCE, CONGREGATION OF THE HOLY CROSS, EX-OFFICIO, AND ALL PERPETUALLY PROFESSED RELIGIOUS OF THE CONGREGATION OF HOLY CROSS SERVING FROM TIME TO TIME AT STONEHILL COLLEGE. THE FELLOWS ARE MADE UP OF INDIVIDUALS THAT ARE INCORPORATORS, FACULTY, PART OF THE PRESIDENT'S COUNCIL, ALUMNI, AND STUDENTS. THE FELLOWS' SOLE POWER AND AUTHORITY IS TO ELECT THE BOARD OF TRUSTEES. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION B, LINE 11 THE FORM 990 IS PREPARED AND SIGNED BY PRICEWATERHOUSECOOPERS LLP AS PAID PREPARER. THE FORM 990 IS FIRST REVIEWED BY STONEHILL COLLEGE'S INTERNAL MANAGEMENT. FOLLOWING THAT REVIEW, STONEHILL COLLEGE'S INTERNAL MANAGEMENT AND PAID PREPARER PRESENT THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FORM BEING FILED WITH THE IRS. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION B, LINE 12C THE COLLEGE REQUIRES ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. QUESTIONNAIRES ARE COLLECTED AND REVIEWED BY THE OFFICE OF THE GENERAL COUNSEL. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AT ANY LEVEL AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WHICH IS DETERMINED ON A CASE BY CASE BASIS. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION B, LINE 15A & B STONEHILL COLLEGE ANNUALLY REVIEWS THE SALARIES OF ITS EXECUTIVE LEVEL MANAGEMENT WITH THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTESS. THE HUMAN RESOURCE OFFICE PROVIDES COMPARABLE MARKET DATA ON THESE POSITIONS AT SIMILAR SIZE INSTITUTIONS. THE COLLEGE PRESIDENT MAKES SALARY RECOMMENDATIONS FOR HIS (HER) TOP MANAGEMENT REPORTS AND THE CHAIRMAN OF THE BOARD OF TRUSTEES MAKES A RECOMMENDATION ON THE PRESIDENT'S SALARY TO BE PAID TO THE CONGREGATION OF THE HOLY CROSS. COMPENSATION RECOMMENDATIONS ARE VOTED UPON BY THE BOARD. STONEHILL COLLEGE'S PRESIDENT IS A MEMBER OF THE CONGREGATION OF THE HOLY CROSS AND HAS TAKEN A VOW OF POVERTY. THE COMPENSATION AND CERTAIN BENEFITS OF REV. MARK CREGAN, ALONG WITH OTHER MEMBERS OF THE HOLY CROSS COMMUNITY WHO PROVIDE SERVICES TO STONEHILL COLLEGE AND HAVE TAKEN A VOW OF POVERTY, ARE PAID TO THE CONGREGATION OF THE HOLY CROSS. TOTAL PAYMENT TO THE CONGREGATION OF THE HOLY CROSS IN FY '11 WAS $1,061,692. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI - SECTION C, LINE 19 AT THIS TIME, STONEHILL COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE COLLEGE POSTS ITS FINANCIAL STATEMENTS TO THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE AT HTTP://EMMA.MSRB.ORG, WHERE THEY ARE AVAILABLE TO THE PUBLIC. SCHEDULE E - SCHOOLS SCHEDULE E, LINE 3 THE FOLLOWING STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGUES, AND OTHER COMMUNICATIONS WITH THE PUBLIC DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS: "STONEHILL COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, DISABILITY, AGE, MARITAL STATUS, RELIGION, COLOR OR NATIONAL ORIGIN, IN ADMISSIONS TO, ACCESS TO, TREATMENT IN OR EMPLOYMENT IN ITS PROGRAMS AND ACTIVITIES, EXCEPT WHERE SUCH CONDITIONS MAY CONSTITUTE BONA FIDE QUALIFICATIONS FOR THE PROGRAM OR ACTIVITIES IN QUESTION." SCHEDULE E - SCHOOLS SCHEDULE E, LINE 6A THIS INSTITUTION AND ITS STUDENTS PARTICIPATE IN THE FOLLOWING FEDERAL FUNDED PROGRAMS: FEDERAL PELL GRANT, FEDERAL PERKINS LOAN, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT AND FEDERAL WORK STUDY. SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT PROCEEDS OF EACH ISSUE DURING THE PROJECT PERIOD. SCHEDULE K, PART II, LINE 4 FUNDS DEPOSITED IN SINKING FUND ACCOUNT TO BE USED AS DEBT SERVICE PAYMENT. SCHEDULE K, PART II, LINE 13 YEAR OF SUBSTANTIAL COMPLETION - FOR BOND ISSUE A AND BOND ISSUE B, YEAR OF SUBSTANTIAL COMPLETION REFERS TO THE PROJECTS FINANCED BY PROCEEDS OF THE REFUNDED BONDS. SCHEDULE K, PART III IN ACCORDANCE WITH THE INSTRUCTIONS FOR SCHEDULE K (FORM 990), PART III HAS NOT BEEN COMPLETED FOR BOND ISSUE A SINCE BOND ISSUE A REFUNDED PRE-2003 BONDS. SCHEDULE K, PART IV, COLUMN B, LINE 3C THERE ARE 3 TERMS TO THE INTEREST RATE SWAP: 20.2 YEARS 20.1 YEARS 29.1 YEARS