2012-12-20T14:02:30-08:00 2012-05-31 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2011-06-01 240795495 UNIVERSITY OF SCRANTON UNIV 5709416486 800 LINDEN STREET SCRANTON PA 185104694 EDWARD J STEINMETZ CPA 5709416486 2012-12-17 true FRANK GIARDINI 2155614200 2012-12-20 2011 2016-02-24 21:20:13Z REV KEVIN P QUINN SJ 800 LINDEN STREET SCRANTON PA 185104694 366794900 false X www.scranton.edu X 1888 PA The University of Scranton is a Catholic and Jesuit university. It is a community dedicated to the freedom of inquiry and personal development fundamental to the growth in wisdom and integrity of all who share its life. It offers degree programs at the under-graduate and graduate levels as well as pre-professional and professional programs. 33 32 3045 639 376141 19324788 9970838 183101536 196043903 7472282 5193368 1517340 1654585 211415946 212862694 50854597 52899802 0 87214674 89081913 59300 42500 2973777 46910210 54567048 185038781 196591263 26377165 16271431 503151380 497602727 226317289 216711990 276834091 280890737 X The University of Scranton is a Catholic and Jesuit university. It is a community false false 52899802 52899802 HIGHER EDUCATION; STUDENT FINANCIAL AID - TOTAL INSTITUTIONAL FINANCIAL AID AWARDS PROCESSED AND DISBURSED BY THE FINANCIAL AID OFFICE AMOUNTED $52,899,802 TO 3,696 UNDUPLICATED RECIPIENTS. ADDITIONALLY, THE FINANCIAL AID OFFICE PROCESSED $82,530,859 OF FINANCIAL AID IN THE FORM OF LOANS TO STUDENTS. DURING THE 2011-2012 ACADEMIC YEAR 5,179 UNDUPLICATED RECIPIENTS RECEIVED SOME FORM OF FINANCIAL AID. LOANS PROVIDED TO STUDENTS AND THEIR PARENTS INCLUDED FEDERAL STAFFORD, PLUS AND ALTERNATIVE LOANS. 52875209 162373727 HIGHER EDUCATION; INSTRUCTION - PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION TO 4,069 UNDERGRADUATE AND 1,965 GRADUATE STUDENTS. THERE ARE 60 UNDERGRADUATE MAJOR PROGRAMS, 24 GRADUATE (MASTERS) LEVEL PROGRAMS, ONE DOCTORAL PROGRAM AND OVER 100 CONTINUING AND PROFESSIONAL EDUCATION PROGRAMS TAUGHT AT THE UNIVERSITY. 34130570 33670176 HIGHER EDUCATION; AUXILIARY SERVICES - PROVIDES DORMITORY AND FOOD SERVICES TO APPROXIMATELY 2,523 RESIDENT STUDENTS AND FOOD SERVICES TO COMMUTER STUDENTS, FACULTY, STAFF AND ADMINISTRATION. 344688 133844 Higher Education; Research - Includes the cost associated with 3 federal, 1 state cost associated with 3 federal, 1 state cost associated with 3 federal, 1 state cost associated with 3 federal, 1 state 1752786 Higher Education; Public Service - Funds expended for activities established primarily expended for activities established primarily expended for activities established primarily expended for activities established primarily expended for activities established primarily expended for activities established primarily 7640268 Higher Education; Academic Support - Includes expenses applicable to an integral part of the expenses applicable to an integral part of the expenses applicable to an integral part of the expenses applicable to an integral part of the 5368267 Higher Education; Library - Expenses incurred in operating an 80,000 sq. ft. incurred in operating an 80,000 sq. ft. incurred in operating an 80,000 sq. ft. incurred in operating an 80,000 sq. ft. incurred in operating an 80,000 sq. ft. incurred in operating an 80,000 sq. ft. 16076881 Higher Education; Student Services and Activities - Expenditures or activities whose Activities - Expenditures or activities whose Activities - Expenditures or activities whose Activities - Expenditures or activities whose 31182890 133844 171088471 true true false true false false false true false true true true false false true true true false true false true false false true true false false false true true true false false false false false true false false false true true true false false false false false false false true 9028 0 true 3045 true true true false false false false true true false false false false X 33 32 true false false false false false false true true false false true true true true true true true true true true AK AZ CO MA NH PA WA X X ADRIAN J MIHALKO CPA MACC CONTROLLE 5709414897 800 LINDEN STREET SCRANTON PA 185104694 PAULA K BARRETT CPA 2.00 X 0 0 0 WILLIAM J BRADY 2.00 X 0 0 0 CHRISTOPHER M CONDRON 2.00 X 0 0 0 THOMAS J DAVIS CPA 1.00 X 0 0 0 JACQUELYN DIONNE 1.00 X 0 0 0 DONNA M DOHERTY 1.00 X 0 0 0 REV JAMES DUFFY SJ MD 1.00 X 0 0 0 MARY BETH FARRELL 1.00 X 0 0 0 MICHELE FINN 1.00 X 0 0 0 MATTHEW GEIGER 1.00 X 0 0 0 MARIE A GEORGE PHD 1.00 X 0 0 0 MICHAEL P GLINSKY 1.00 X 0 0 0 REV OTTO HENTZ SJ 2.00 X 0 0 0 JOSEPH J KADOW ESQ 1.00 X 0 0 0 JAMES J KNIPPER 1 X LAWRENCE LYNCH CPA 1 X GEORGE V LYNETT JR 1 X REV RYAN MAHER SJ 1 X DENNIS J MCGONIGLE 1 X JAMES F MULLERY JR 1 X JUSTIN B MURPHY 1 X FRANCIS J PEARN 2 X KAREN L PENNINGTON PHD 2 X VINCENT F REILLY 1 X REV ROBERT E REISER SJ 1 X 3613041 725500 98 true true false THE QUANDEL GROUP 4755 LINGESTOWN ROAD HARRISBURG PA 17112 General contractor 21852287 SORDONI CONSTRUCTION CO 45 OWEN STREET FORTY FORT PA 18704 General contractor 19072654 ARAMARK C/O UNIVESITY OF SCRANTON SCRANTON PA 18510 Food service provider 10645955 FIRST PRIORITY PO BOX 2127 WILKESBARRE PA 18703 Health care provider 9197284 TIAACREF PO BOX 1259 CHARLOTTE NC 28201 Pension plan provider 3942577 75 768311 6005286 3197241 276543 9970838 Tuition and fees 611310 162373727 Auxiliary enterprises 721310 33670176 196043903 3346829 3346829 112182 82509 29673 29673 29673 155443194 153596655 1846539 1846539 1846539 98540 768311 253042 -154502 -154502 Print shop activities 323100 304851 304851 Educational support services 611710 1098422 1092868 5554 Conferences and Summer camps 721214 376141 376141 1779414 212862694 197441622 376141 5074093 52899802 52899802 3102830 1822441 1003369 277020 61774030 51056035 9469205 1248790 4760449 3828218 822042 110189 15213672 11655371 3324590 233711 4230932 3409545 723124 98263 241331 0 241331 0 138935 0 138935 0 94500 0 0 94500 42500 42500 537895 0 537895 0 1191278 1017165 174113 0 932602 169189 748170 15243 2592000 1896600 555845 139555 1471987 605088 824805 42094 3459754 3459754 0 0 890451 817072 62740 10639 1245266 976589 216785 51892 6760956 6760956 0 0 12428727 11115337 1264725 48665 640575 557814 68288 14473 Direct food costs 8323460 8323460 0 0 Other food service expenses 2157757 1793979 267425 96353 Books and publications 1565909 1544977 19305 1627 Repairs and maintenance 4352903 3917747 417323 17833 5540762 3461332 1649000 430430 196591263 171088471 22529015 2973777 16801561 10981392 13983342 8844021 2273086 5704003 51516 28400 3931478 3395665 4146864 3882001 404573989 124643527 247636422 279930462 130041425 101477029 84285686 83359754 503151380 497602727 42721295 33211467 307460 274497 6225846 10647520 171275000 166795000 5787688 5783506 226317289 216711990 X 177117168 186684352 43878360 37007282 55838563 57199103 276834091 280890737 503151380 497602727 X 16271431 -12214785 X X false true true X true true X 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 1163 false true 94500 95663 false Pt II-B Line 1i The University contracted with a consulting group to TO REPRESENT ITS INTERESTS IN LEGISLATIVE AND OTHER GOVERNMENTAL MATTERS AT BOTH THE STATE AND FEDERAL LEVELS. 24500 222673 X X X X Used regularly for teaching purposes true 129680970 2087049 -7502776 2608868 2131472 537895 118987008 111708996 3903772 22547487 3292671 4386168 800446 129680970 100233075 5829128 13819583 3473969 4087415 611406 111708996 0.29100 0.24400 0.46500 true false 20414562 20414562 317932751 91509504 226423247 41702022 26338491 15363531 24524654 6795532 17729122 279930462 Silchester International Investors 9764486 F ABS Offshore SPC Class B 6727103 F State Street Global Advisors 35714518 F Grosvenor Capital Management 11275698 F EII Global Property Fund 5757716 F MFS International Growth, LLC 9745911 F MBIA,Inc. 29.7 year GIC 4374322 C 83359754 Split interest agreements 1396946 Premiums on University bonds 3889773 Capital lease obligations 496787 5783506 212862694 196591263 16271431 -12214785 -12214785 4056646 148376739 -12214785 628632 -11586153 159962892 52899802 52899802 212862694 144320093 628632 628632 143691461 52899802 52899802 196591263 Pt III Line 4 The Special Collections department of the Weinberg MEMORIAL LIBRARY PROVIDES EXHIBITS, PROGRAMMING AND INSTRUCTION THAT REACH OUT TO BOTH THE UNIVERSITY COMMUNITY AND THE GENERAL PUBLIC. SPECIAL COLLECTIONS CONTAINS HISTORICAL COLLECTIONS AND A RARE BOOK COLLECTION THAT RANGES FROM MEDIEVAL MANUSCRIPTS AND EARLY PRINTED BOOKS THROUGH 20TH CENTURY FIRST EDITIONS AND FINE PRESS WORK. MUCH OF THE COLLECTION WAS DONATED OR ACQUIRED OVER MANY DECADES. INCLUDED IN THE COLLECTION IS A COMPONENT FOCUSING ON RARE BOOKS PRODUCED BY THE JESUIT COMMUNITY. Pt V Line 4 The University's endowment is used to provide SCHOLARSHIPS TO STUDENTS AND TO OFFSET FACULTY SALARIES AND OTHER OPERATING EXPENSES. Pt X The University is exempt from federal income taxes UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. TAX POSITIONS ARE RECOGNIZED OR DERECOGNIZED BY THE UNIVERSITY BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE UNIVERSITY DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. Pt XII Line 2d Rental expenses deducted from gross rent revenue AND FUNDRAISING DIRECT EXPENSES DEDUCTED FROM GROSS FUNDRAISING INCOME ON FORM 990, PART VIII, LINES 6B AND 8B RESPECTIVELY. RECLASSIFICATION OF BOND PREMIUM AMORTIZATION AS CONTRA-EXPENSE. Pt XII Line 4b Tuition and fee revenue offset by institutionally FUNDED STUDENT FINANCIAL AID (TUITION AND FEE true true true true true true true false false false false false false false false true false true Line 3 SEE SCHEDULE E, PART II THE UNIVERSITY'S RACIALLY NONDISCRIMINATION POLICY Line 6b THE UNIVERSITY RECEIVES OPERATING FUNDS DESIGNATED Central America 0 0 Investments 6727103 0 0 0 0 6727103 6727103 false false false false false false X X X X X X X true CARLA CAPONE COMPANY Consultant false 799745 42500 757245 799745 42500 757245 AK AZ CO MA NH PA WA PBC Dinner 799745 707705 92040 137005 6300 59216 Athletics Dinner 67106 60606 6500 32907 17614 866851 768311 98540 169912 6300 76830 253042 -154502 true University funded grants/assistance 3696 52899802 N/A N/A Pt I Line 2 All University students are considered for grants and or assistance. The University's Financial Aid Office evaluates each student's financial need based upon information provided on the Free Application for Federal Student Aid (FAFSA). Financial Aid Office management award merit scholarships to students who qualify based upon donor stipulations and award federal, state and private need based awards based upon federal or other guidelines. Students receiving awards provide information and participate in interviews to ensure that guidelines and residency rules and regulations are met. X X true true X X X true false false false false false false false false HAROLD W BAILLIEPHD 228673 22608 18780 270061 VINCENT CARILLI PHD 165875 16114 16890 198879 PATRICIA A DAY JD 158818 15193 8293 182304 JEROME P DESANTO MBA 197376 18205 21697 237278 PATRICK LEAHY EDD 232905 22608 21507 277020 EDWARD J STEINMETZ CPA 206010 20096 17705 243811 GERALD C ZABOSKI MS 153433 15072 16985 185490 BRIAN P CONNIFF PHD 155959 8705 22237 186901 JOSEPH H DREISBACH PHD 172271 17296 23489 213056 DEBRA A PELLEGRINO EDD 162016 15414 8133 185563 KENNETH R LORD PHD 192887 16070 21572 230529 MICHAEL O MENSAH PHD 203134 18958 21507 243599 WILLIAM J WELSH PHD 154454 14766 8198 177418 S KINGSLY GNANENDRAN PHD 188978 12003 21707 222688 IORDANIS PETSASPHD 161410 8032 10254 179696 SATYANARAYANA V PRATTIPATI PHD 205192 11509 18780 235481 ROSE SEBASTIANELLI PHD 160562 12650 24794 198006 NABIL A TAMIMIPHD 171994 10434 21707 204135 ABIGAIL BYMAN JD 99198 10404 17786 127388 DAVID E CHRISTIANSEN 100398 100398 PAUL F FAHEY PHD 127269 12682 24644 164595 Pt I Line 1a THE UNIVERSITY PROVIDES ON-CAMPUS HOUSING FOR REV. KEVIN P. QUINN, SJ, PRESIDENT AND REV. RICHARD G. MALLOY, SJ, VICE PRESIDENT FOR UNIVERSITY MINISTRIES. THE ESTIMATED VALUE OF HOUSING IS $15,400 AND $14,564 RESPECTIVELY. THE HOUSING VALUES ARE BASED UPON RESIDENCE HALL RATES CHARGED UNIVERSITY STUDENTS. THESE HOUSING VALUES ARE INCLUDED IN THE RESPECTIVE OFFICER'S COMPENSATION DISCLOSED IN PART VII OF THE FORM 990. THE UNIVERSITY PAYS FOR INITIATION FEES AND MONTHLY DUES FOR A MEMBERSHIP FOR THE PRESIDENT TO THE SCRANTON CLUB. THE UNIVERSITY ALSO PAYS FOR THE ANNUAL MEMBERSHIP FEES FOR THE EXECUTIVE VICE PRESIDENT IN HIS UNIVERSITY RELATIONS ROLE AT THE FOLLOWING SOCIAL CLUBS: PYRAMID CLUB OF PHILADELPHIA, HAMILTON FARM GOLF CLUB OF GLADSTONE, NJ AND GLENMAURA NATIONAL GOLF CLUB OF MOOSIC, PA. THESE MEMBERSHIPS ARE USED BY SENIOR ADMINISTRATORS TO HOST MEETINGS WITH BUSINESS PARTNERS OF THE UNIVERSITY, BOARD MEMBERS, POTENTIAL DONORS AND FACULTY AND STAFF. MEMBERSHIPS IN THESE CLUBS ALLOWS FOR RECIPROCAL USE OF OTHER RELATED VENUES WITHIN THE UNITED STATES. THESE RECIPROCAL AGREEMENTS ALLOW SENIOR ADMINISTRATION TO HOST QUALITY BUSINESS AND FUNDRAISING EVENTS OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA. Pt I Line 3 THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS APPROPRIATE ANALYSES AND STUDIES PREPARED BY THE HUMAN RESOURCES OFFICE OR EXTERNAL SOURCES TO AID IN EVALUATING COMPENSATION AND BENEFITS AND STRATEGIES TO ATTRACT AND RETAIN QUALIFIED PERSONNEL FOR SENIOR EXECUTIVE ADMINISTRATIVE POSITIONS. THE COMMITTEE ANNUALLY REVIEWS AND APPROVES COMPENSATION AND BENEFITS FOR SENIOR ADMINISTRATORS AND OFFICERS OF THE UNIVERSITY. THIS REVIEW INCLUDES COMPARABLE MARKET DATA FOR POSITIONS AT OTHER HIGHER EDUCATION INSTITUTIONS. THE COMMITTEE REPORTS TO THE EXECUTIVE COMMITTEE THE TOTAL COMPENSATION PAID THE UNIVERSITY'S PRESIDENT AND VICE PRESIDENTS. THE COMMITTEE REVIEWS THE RECOMMENDATIONS OF, AND ADVISES, THE PRESIDENT AS TO THE INDIVIDUAL CONTRACTS THAT ARE ABOVE AND BEYOND THE SCOPE OF THE UNIVERSITY'S BASE COMPENSATION AND BENEFITS STRUCTURE. Part I Line 4a ABIGAL BYMAN, JD - SEPARATION PAYMENT OF $99,198. DAVID E. CHRISTIANSEN - SEPARATION PAYMENT OF $100,398. PA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917RCRA 2006-03-02 57424438 Campus Ctr and refunding false false false PA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 810694H93 2007-10-12 30479254 Construct dormitory false false false PA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917RPW9 2008-04-01 11540071 Current refunding false false false CITY OF WILKES-BARRE FINANCING AUTHORITY 205684698 968254AX0 2010-09-09 67855761 Science building and dormitory false false false 60143859 4374322 24554657 1220097 29994783 2007 false true true true 30479254 2793400 695786 26990068 2008 false false true true 11540071 11450977 89094 2008 true false true true 67855761 568398 67287363 2011 false false true true false false true false 0.00000 0.00000 0.00000 true false false false false 0.00000 0.00000 0.00000 true false false false false 0.00000 0.00000 0.00000 true false false true false 0.00000 0.00000 0.00000 true true false false true MBIA INC 0.29666700 true false false true false false false false false true false false false false false false false false false false false PATRICIA A DAY JD Relocation assistance X 3000 836 false true true PATRICK LEAHY EDD Forgivable loan X 50000 27564 false true true 28400 GEORGE V LYNETT JR Trustee 101129 See Part V below false Part IV, George V. Lynett, Jr. - Description of Transaction - Line (1)(d) Mr. Lynett serves as the CEO of Times-Shamrock Communications (TSC). The University purchases advertising, printing services and newspaper delivery services from TSC and its subsidiaries. Mr. Lynett is not involved in the selection of vendors for any of the services noted. X 1 20000 Appraisal X 26 178066 Midpoint High/Low X 1 4500 Appraisal X 52 26791 Donor estimate/receipt X Lab Equipment 1 40000 Appraisal X Prizes 98 6270 Donor estimate X Team Dinner 1 916 Receipt false true true Pt I Line 32b Form 990 The University uses the services of a securities Form 990 broker to sell all securities received as Form 990 charitable contributions. Pt VI, Line 2 The President of the University, Rev. Kevin P. Quinn, SJ and the Vice President for University Ministries, Rev. Richard G. Malloy, SJ are members of the Scranton Jesuit Community and the Maryland Province of the Society of Jesus. Other clergy that are members of the Board of Trustees may also be members of the Maryland Province of the Society of Jesus. Pt VI, Line 11a The Form 990 is prepared inhouse based upon audited financial statements. The draft Form 990 is completed by Treasurer's Office personnel and is reveiwed by independent tax advisors and by the University's Treasurer before being sent to the Audit Committee for its review. The Audit Committee has a one week period to comment on the draft and appropriate changes are made based upon those comments. The revised draft is then made available to the full Board of Trustees on a University secure website. Trustees are able to comment on the draft Form 990 for a week period prior to a regularly scheduled Board meeting. At that meeting the Board formally adopts the Form 990 as final and authorizes the University Treasurer to file the Form 990 with the IRS. An identical and simultaneous process is followed to file the Form 990, Part III, Line 4d HIGHER EDUCATION; RESEARCH - INCLUDES THE 344688. 0. 133844. HIGHER EDUCATION; PUBLIC SERVICE - FUNDS 1752786. 0. 0. HIGHER EDUCATION; ACADEMIC SUPPORT - INCLUDES 7640268. 0. 0. HIGHER EDUCATION; LIBRARY - EXPENSES 5368267. 0. 0. HIGHER EDUCATION; STUDENT SERVICES AND 16076881. 0. 0. Form 990, Part IX, Line 24f OTHER EXPENSES (INCLUDES PRINTING) 5540762. 2566549. 2543783. 430430. RECLASS FROM M&G TO PS FOR: SYSTEMS SOFTWARE RESOUCES 0. 894783. -894783. University's annual return on Form 990-T. Pt VI, Line 12c The University's Secretary to the Board distributes, explains and collects completed Conflict of Interest statements. These statements are reviewed by the Secretary. The Secretary refers any disclosed potential conflicts to the University General Counsel who advises the Secretary how to address potential or actual conflicts during Board procedings. The Secretary attends all Board meetings where actions are voted upon to ensure that individuals with potential or actual conflicts refrain from 1) participating in discussion, 2) being present during a vote or 3) voting upon the matter involving the potential or actual conflict of interest. Pt VI, Line 15 The Executive Compensation Committee of the Board of Trustees reviews appropriate analyses and studies prepared by the Human Resources Office or external sources to aid in evaluating compensation and benefits and strategies to assure they are appropriate to attract and retain qualified personnel for senior executive administrative positions. The Committee annually reviews and approves compensation and benefits for senior administrators and officers of the University. This review includes comparable market data for positions at other higher education institutions. The Committee reports to the Executive Committee the total compensation paid the University's President and Vice Presidents. The Committee reviews the recommendations of, and advises, the President as to individual contracts that are above and beyond the scope of the University's base compensation and benefits structure. Pt VI, Line 19 The University does not make its governing documents, conflict of interest policy, or financial statements available to the public. However, much of this information is available in the University's annual information return on Form 990 filed with the Internal Revenue Service. This return is available to the public both on-line at "www.guidestar.com" and at the University's Treasurer's Office. Pt XI Unrealized losses incurred on investment transactions disclosed on Schedule D, Part XI, Line 4. Pt XII, Line 2c The Audit Committee of the University's Board of Trustees is appointed by the Board to assist the Board in the discharge of its oversight responsibilities. The Audit Committee oversees the financial reporting process to ensure the balance, transparency and integrity of published financial information. The Audit Committee also reviews the independent audit process, including recommending the appointment and assessing the performance of the external auditors. Form 990 Both the University's President and its Vice Part VII President for University Ministries are members of Lines 33 & 39 the Society of Jesus. Members of the Society of Jesus take a vow of poverty. Compensation for these University officer positions is paid directly to their order which is exempt under section 501(c)(3). Under Rev. Rul. 77-290 members of a religious order providing services to a Catholic organization will be considered for tax purposes to be an agent of the order provided; 1) the religious is subject to a vow of poverty, 2) the religious is providing services for a Catholic organization listed in the Official Catholic Directory at the direction of his superior and 3) the full amount of compensation is remitted to the tax exempt order by the organization. Schedule K, Line A, Column (f) Description of Purpose: Part I Funding of various capital projects including financing the design, construction, equipment, and furnishings of a new campus center. Advance refunding of Series 2000 University bonds and a partial advance refunding of the Series 1997 bonds. Schedule K, Line B, Column (f) Description of Purpose: Part I Financing the constuction of a new seven story residence hall. Schedule K, Line C, Column (f) Description of Purpose: Part I Refunding of Series 2006 C and Series 2006 D debt, funding of certain capital expenditures and the payment of a portion of the costs of issuing the Series 2008 bonds. Schedule K, Line D, Column (f) Description of Purpose: Part I Financing the construction of a new Loyola Science Center and a multi-purpose 400-bed residence hall.