2012-04-24T15:28:22-04:00 2011-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2010-07-01 231413680 SALUS UNIVERSITY SALU 2157801400 8360 OLD YORK ROAD ELKINS PARK PA 19027 DONALD KATES 2157801400 2012-04-24 true 2155614200 2010 2016-02-24 21:20:13Z DR THOMAS LEWIS PRESIDENT 8360 OLD YORK RD ELKINS PARK PA 19027 36351988 false X WWW.SALUS.EDU X 1919 PA TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. 22 19 649 0 0 0 3418521 3692132 27524147 29080356 461613 491029 1657378 1638604 33061659 34902121 825374 870310 0 0 21801725 21786602 31768 19324 250714 10034998 11303044 32693865 33979280 367794 922841 82944943 91453132 42602015 43890866 40342928 47562266 X THE MISSION OF SALUS UNIVERSITY IS TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. false true 16525921 870310 22959637 SALUS UNIVERSITY is a four year post graduate educational institution. The UNIVERSITY programs lead to doctoral degrees in Optometry and Audiology and Masters degrees in Medical Science, Low Vision Rehabilitation and others. The UNIVERSITY enrolls approximately 800 students. During the year over 210 students earned degrees. 6798090 0 2994696 THE UNIVERSITY OPERATES two CLINICAL TEACHING FACILITies FOR THE VARIOUS PROGRAMS. APPROXIMATELY 300 STUDENTS ARE TRAINED ANNUALLY. THE CLINICS PROVIDE EYECARE and ear care to approximately 45,000 PATIENTS A YEAR. 3126023 0 3126023 The UNIVERSITY receives federal, state and private grants to support basic research, clinical research, specialized training and student financial aid. These amounts are expended pursuant to the grant agreement. 26450034 true true false true false false false false true true false true false true true false true true false true false false true false false false false true true true true false false false false false false false false false false false false false false true true true false false true 155 0 true 649 true false false false false false false false false false false X 22 19 false false false false false false false true true false false true true true true true true true true false PA X DONALD KATES VP FOR FINANCE 2157801240 8360 OLD YORK RD ELKINS PARK PA 19027 X Thomas Lewis 24.0 X X 332026 0 36684 Jo Surpin 1.0 X 0 0 0 Dan Abramowicz 1.0 X 0 0 0 Barry J Farkas 1.0 X 0 0 0 Carl A Polsky 1.0 X 0 0 0 I William Collins 1.0 X 0 0 0 Mark Boas 1.0 X 15100 0 0 Jean Pagani 35.0 X 95769 0 20074 Craig Cassey 1.0 X 0 0 0 Robert Cole 1.0 X 0 0 0 Richard DePiano 1.0 X 0 0 0 Christopher Dezzi 1.0 X 0 0 0 David Dozack 1.0 X 0 0 0 Shirley Gregory 1.0 X 0 0 0 Keith D Ignotz 1.0 X 0 0 0 Leslie Littman 1.0 X 0 0 0 Joseph Marshall III 1.0 X 0 0 0 Ian McWherter 1.0 X 0 0 0 Mindy Posoff 1.0 X 0 0 0 Elois G Rogers-Phillips 1.0 X 0 0 0 Jane Scaccetti 1.0 X 0 0 0 Harvey Wolbransky 1.0 X 0 0 0 Donald Kates 34.0 X 150482 0 26531 Anthony DiStefano 35.0 X 226634 0 35439 Susan Oleszewski 35.0 X 176106 0 24455 Audrey Smith 35.0 X 181967 0 20770 Lorraine Lombardi 35.0 X 181425 0 20512 Linda Casser 35.0 X 175405 0 26130 Pierrette Dayhaw-Barker 35.0 X 150218 0 19953 Larry McClure 35.0 X 146972 0 25899 1832104 0 256447 31 false true false FOX ROTHSCHILD LLP 2000 MARKET STREET 10TH FLOOR PHILADELPHIA PA 19103 ATTORNEY 204761 Liebenow and Torok Inc 7309 Arlington Blvd FALLS CHURCH VA 22042 Facility Mgmt 199226 Binswanger Company Two Logan Square PHILADELPHIA PA 19103 Realtors 136705 Grant Thornton LLP 2001 Market St Suite 3100 PHILADELPHIA PA 19103 Accounting 132520 James J Clearkin Inc 110 Franklin Avenue CHELTENHAM PA 19012 construction 119450 28 3681792 10340 3692132 TUITION 900099 26066890 26066890 PATIENT CARE - NET 900099 2994696 2994696 EDUCATION SALES AND SERVICES 900099 18770 18770 29080356 491029 0 491029 0 0 1464461 909940 554521 554520 554520 0 0 0 1000926 539927 460999 460999 MANAGEMENT FEE - FOUNDATION 900099 255000 255000 HAFTER CENTER FEES 900099 134000 134000 BOOKSTORE COMMISSION 900099 22084 22084 212001 212001 623085 34902121 29214356 0 1995633 0 870310 870310 0 0 895201 480201 415000 0 15590524 14057890 1414204 118430 1487730 1195238 281190 11302 2618682 2103841 494947 19894 1194465 959630 225761 9074 0 196159 158 196001 109671 109671 0 19324 19324 0 0 0 668296 497596 165014 5686 220829 46345 174447 37 0 841701 298778 542923 482540 437998 38207 6335 0 56153 50572 4695 886 0 0 1530275 1530275 374059 306491 67568 GRANT EXPENSES 3126023 3126023 EQUIPMENT RENTAL AND MAINTENAN 952291 417857 525005 9429 MATERIALS COSTS 539927 539927 PRINTING AND PUBLICATIONS 421897 410363 -17098 28632 DEBT SERVICE 129317 129317 1653906 650816 981405 21685 33979280 26450034 7278532 250714 12334425 8617041 3346733 3859143 14061017 13949287 258055 104882 64444 239784 55330844 25209069 24000295 30121775 27360693 33611412 1519281 949808 82944943 91453132 2273885 1832974 6021936 6593688 10725000 10025000 0 1049533 23581194 24389671 42602015 43890866 X 34429984 40475078 2201407 3286541 3711537 3800647 40342928 47562266 82944943 91453132 X 922841 6296497 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22560 22560 33956720 33979280 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 58560 22560 20680 22560 124360 250000 250000 250000 250000 1000000 1500000 15969601 71024 3812739 557797 19295567 14690431 71125 1807200 599155 15969601 18010487 386051 -3608680 97427 14690431 0.75000 0.18000 0.07000 false true true 2139778 2139778 37338721 13255453 24083268 15526520 11953616 3572904 325825 325825 30121775 INVESTMENT IN SUBSIDIARY 33611412 F 33611412 0 GOVERNMENT ADVANCES 14161399 POST RETIREMENT BENEFITS 8516000 MISCELLANEOUS 1712272 24389671 34902121 33979280 922841 6296497 6296497 7219338 42261042 8229231 8229231 34031811 870310 870310 34902121 35041704 1932734 1932734 33108970 870310 870310 33979280 Endowment Funds Form 990, Schedule D, Part V The endowment funds are held by Pennsylvania College of Optometry Foundation, a related tax-exempt organization. The Pennsylvania College of Optometry Foundation's endowment consists of a portfolio of actively managed funds established to provide both a source of operating funds as well as long-term financial stability. The endowment includes both donor restricted endowment funds and funds designated by the Board of Trustees to function as endowments or quasi endowments. Endowment funds may have purpose restrictions on use of the income. Income Taxes Form 990, Schedule D, Part X, Line 2 The University follows the accounting guidance for uncertainties in income tax positions, which requires that a tax position be recognized or derecognized 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 consolidated financial statements include any material uncertain tax positions. Reconciliation of Net Assets Form 990, Schedule D, Part XI, Line 8 Income from Foundation 6,250,718 AU Clinic - PEI Net Loss (75,000) Change in PEI Fund Balances 120,779 --------- Total Line 2d 6,296,497 ========= Reconciliation of Revenue Form 990, Schedule D, Part XII Line 2d: Rent Expense (reclass to revenue) 909,940 Cost of Goods Sold (reclass to revenue) 539,927 AU Clinic - PEI Income 407,867 Change in PEI Fund Balances 120,779 Income from Foundation 6,250,718 --------- Total Line 2d 8,229,231 ========= Line 4b: Scholarships 870,310 --------- Total Line 4b 870,310 ========= Reconciliation of Expenses Form 990, Schedule D, Part XIII Line 2d: Rent Expense (reclass to revenue) 909,940 Cost of Goods Sold (reclass to revenue) 539,927 AU Clinic - PEI Expenses 482,867 --------- Total Line 2d 1,932,734 ========= Line 4b: Scholarships 870,310 --------- Total Line 4b 870,310 ========= true true true true true true true false false false false false false false false true false true Schedule E, Line 3 THE UNIVERSITY HAS A WRITTEN POLICY ESTABLISHING ITS NON-DISCRIMINATION POLICY. IT IS PUBLISHED IN THE STUDENT HANDBOOK AND ON THE APPLICATION FOR ADMISSIONS. Schedule E, Line 6b THE UNIVERSITY RECEIVES FUNDING FROM GOVERNMENTAL AGENCIES FOR STUDENT TUITION ASSISTANCE IN ACCORDANCE WITH PROGRAMS SUCH AS SDS- SCHOLARSHIPS FOR DISADVANTAGED STUDENTS. East Asia and the Pacific 0 0 Program Services teaching 65968 Europe (Including Iceland and Greenland) 0 15 Program Services teaching 474241 Middle East and North Africa 0 0 Program Services teaching 17996 0 15 0 15 558205 558205 false false false false false false Part I, Line 3, Column C In some programs, Salus contracts with individual local professionals to provide service to the program. These professionals will assist in instruction, translation and administration. X true The Stockade Consulting Group 650 Franklin Street Suite 201 Schenectady NY 12305 solicitor false 62624 19324 43300 62624 19324 43300 8360 Old York Road Elkins Park PA 19027 true SCHOLARSHIPS 251 870310 GRANTS AND ASSISTANCE IN THE UNITED STATES FORM 990, SCHEDULE I, PART I, LINE 2 The University provides scholarships to students matriculating at the University; therefore, all funds granted are used to defray the cost of tuition and no further monitoring of the grants is required. X true true X X X false true false false false false false false false Thomas Lewis 310026 0 0 0 22000 0 26950 0 9734 0 368710 0 0 0 Donald Kates 150482 0 0 0 0 0 16797 0 9734 0 177013 0 0 0 Anthony DiStefano 226634 0 0 0 0 0 25705 0 9734 0 262073 0 0 0 Susan Oleszewski 176106 0 0 0 0 0 18007 0 6448 0 200561 0 0 0 Audrey Smith 181967 0 0 0 0 0 14322 0 6448 0 202737 0 0 0 Lorraine Lombardi 181425 0 0 0 0 0 14064 0 6448 0 201937 0 0 0 Linda Casser 175405 0 0 0 0 0 19682 0 6448 0 201535 0 0 0 Pierrette Dayhaw-Barker 150218 0 0 0 0 0 13505 0 6448 0 170171 0 0 0 Larry McClure 146972 0 0 0 0 0 16165 0 9734 0 172871 0 0 0 Compensation Information Form 990, Schedule J, Part I Line 1 - The University pays for the President's country club fees. This fringe benefit is taxable to the President and properly substantiated. Line 4b - The President's employment agreement includes certain deferred compensation to be payable upon his retirement. During calendar year 2009, revisions to Section 409A of the IRS Code resulted in certain of that compensation becoming taxable to the President in 2009, even though it was not received by him. The Board of Trustees' compensation committee decided that it would be preferable to make the deferred payment during 2009 since the tax was due, to match the payment with the tax due. Salus University - Series 2007 231413680 70917PHG7 2007-06-28 12500000 Renovation of Optometry Clinic true true false 0 0 12500000 0 0 0 0 0 0 5178181 0 0 2011 true false true true false false true false true 0.01600 0.00000 0.01600 true false true false false true false Bond Issues The University qualified for a three-year temporary period for the construction project that was a part of this issue. Due to unanticipated circumstances beyond the University's control impacting construction, including the economic downturn in 2008 and 2009, and certain subsurface issue on the property, the project is not scheduled to be completed until 11/2011. The University caused the unspent bond proceeds to be yield restricted upon the expiration of the three-year temporary period. FORM 990, PART III, LINE 2 In order to further its mission to be a health science university, Salus University, will be adding 3 new degree programs in the next two or three years. The programs are a PhD in Bio Science, a doctoral and masters in Occupational Therapy and a doctoral and masters in Speech & Language Pathology. FORM 990, PART III, LINE 3 As part of Optometry program eye clinic, the University ran an optical service, where eye glasses were sold to patients. The University sold its optical services to a third party during the past fiscal year. FORM 990, PART VI, LINE 11 The University's Form 990 was prepared by Grant Thornton LLP in conjunction with the University's financial department. A copy of the draft Form 990 was made available to the Finance Committee and the entire Board of Directors on a secured website maintained by the organization. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its electronic filing with the Internal Revenue Service. FORM 990, PART VI, LINE 12 Each officer, director, trustee and key employee of the University is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the University. The University monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately by an ad hoc committee established for just such purpose. FORM 990, PART VI, LINE 15 The President is the organization's top management official. The President's compensation is determined by the executive committee of the board. In determining compensation, the Board relies upon comparability data of institutions similarly situated to Salus University. The deliberations to determine the President's Compensation are documented in the Board Committee's minutes. Compensation paid to other officers or key employees of the organization is determined by the President of the University in consultation with the Director of Human Resources. When necessary, they will utilize independent comparability data to benchmark a reasonable salary for these individuals. FORM 990, PART VI, LINE 19 The organization makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Reconciliation of Net Assets Form 990, Part XI, Line 5 Income from Foundation 6,250,718 AU Clinic - PEI Net Loss (75,000) Change in PEI Fund Balances 120,779 --------- Total Line 2d 6,296,497 ========= HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Thomas Lewis TITLE:President HOURS:11 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jo Surpin TITLE:Chairperson HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dan Abramowicz TITLE:First Vice Chair HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Barry J Farkas TITLE:Second Vice Chair HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Carl A Polsky TITLE:Treasurer HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:I William Collins TITLE:Secretary HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Mark Boas TITLE:Trustee HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jean Pagani TITLE:Faculty Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Craig Cassey TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Robert Cole TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Richard DePiano TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Christopher Dezzi TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:David Dozack TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Shirley Gregory TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Keith D Ignotz TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Leslie Littman TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Joseph Marshall III TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Ian McWherter TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Mindy Posoff TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Elois G Rogers-Phillips TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jane Scaccetti TITLE:Trustee HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Harvey Wolbransky TITLE:Trustee HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Donald Kates TITLE:Vice President - Finance HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Anthony DiStefano TITLE:Vice President - Acad Affairs HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Susan Oleszewski TITLE:Vice President - Eye Institute HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Audrey Smith TITLE:Associate Dean HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Lorraine Lombardi TITLE:Associate Dean HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Linda Casser TITLE:Dean - OD Program HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Pierrette Dayhaw-Barker TITLE:Associate Dean HOURS: HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Larry McClure TITLE:Director of Inst. Planning HOURS: PA College of Optometry Foundation 8360 old york road elkins park PA 19027 233030893 fundraising PA 501(c)(3) 11 Salus Pennsylvania Ear Institute 8360 old york road elkins park PA 19027 202888384 healthcare PA 501(c)(3) 11 Salus false false false false false false false false true false true true true true true false false true PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION K 255000 PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION O 545027 PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION Q 56240 PENNSYLVANIA EAR INSTITUTE O 482867