2011-02-14T16:59:16-06:00 2010-06-30 BRUNER-COX LLP PO BOX 35429 CANTON OH 447355429 990 2009-07-01 340868798 WALSH UNIVERSITY INC WALS 3304997090 2020 EAST MAPLE ST NORTH CANTON OH 447203396 Philip J Daniels 3304997131 2011-02-14 1 Ronald J Manse 3304972000 2009 2016-02-24 21:20:13Z Richard Jusseaume 2020 EAST MAPLE ST NORTH CANTON OH 447203396 67059747 0 X www.walsh.edu X 1958 OH Walsh University is an independent, coeducational Catholic, liberal arts and sciences institution. Founded by the Brothers of Christian Instruction, Walsh University is dedicated to educating its students to become leaders in service to others through a values-based education with an international perspective in the Judeo-Christian tradition. Walsh University believes in the desirability of a small university that promotes academic excellence, a diverse community and close student-teacher interactions. The University provides its students a higher education that fosters critical thinking, effective communication, spiritual growth, and personal, professional and cultural development. Walsh University encourages individuals to act in accordance with reason guided by the example and teachings of Jesus Christ. 36 34 1572 310 0 0 2817555 4039632 56642353 59441237 -28775 171968 279945 305617 59711078 63958454 17085961 18878063 0 20753039 21742128 37731 963134 17657194 18154238 55496194 58812160 4214884 5146294 86083906 88954912 37848709 35343204 48235197 53611708 Walsh University is an independent, coeducational Catholic, liberal arts and sciences institution. Founded by the Brothers of Christian Instruction, Walsh University is dedicated to educating its students to become leaders in service to others through a values-based education with an international perspective in the Judeo-Christian tradition. Walsh University believes in the desirability of a small university that promotes academic excellence, a diverse community and close student-teacher interactions. The University provides its students a higher education that fosters critical thinking, effective communication, spiritual growth, and personal, professional and cultural development. Walsh University encourages individuals to act in accordance with reason guided by the example and teachings of Jesus Christ. 0 0 51940170 59447350 The University provides over 2800 students on six campus locations a higher education that fosters critical thinking, effective communication, spiritual growth, and personal, professional and cultural development. The University offers the following degrees: Associate of Arts, Associate of Science in Computer Science, Bachelor of Arts, Bachelor of Science, Bachelor of Science in Education, Bachelor of Science in Nursing, Master of Arts in Education, Masters in Business Administration (MBA), Masters of Arts in Counseling and Human Development, Masters of Arts in Theology, Doctor of Physical Therapy. Walsh University is accredited by the following: North Central Association/Higher Learning Commission, National League for Nursing Accrediting Commission, Ohio Department of Education, Ohio Board of Counseling & Social Work, American Physical Therapy Association.Walsh University's library houses 133,546 volumes, 300 paper subscriptions, 43,605 electronic periodicals, 101,302 electronic books, 208 electronic databases and 6,363 audio visual titles (includes online educational videos). The Walsh library is a member of OCLC, OhioLINK, OHIONET and OPAL (Ohio Private Academic Libraries) and all library resources are searchable through the Internet.The student affairs team is a diverse collection of educators committed to the holistic development of students, firmly believing that all students have the potential to become valuable assets to our world community. Members of the Student Affairs team embody the Christian values espoused in the University mission statement, enfleshed by our care and concern for students, relationships, and the community. Walsh University provides over 1000 students with housing and dining services. Several of the nine residence halls are newly constructed and offer apartment-style and suite-style living. Dining service facilities include the Schervish Dining Hall, the Betzler Grille, the Cavalier Cafe and the C-Store offering various meal plan selections and dining innovations.Walsh University's athletic program offers 19 different men's and women's athletic teams. Walsh is a member of the National Association of Intercollegiate Athletics and competes in the 20 member American Mideast Conference and the Mid-States Football Association. The Walsh Cavaliers enjoy a winning tradition, garnering a National Association of Intercollegiate Athletics national championship in both men's and women's basketball, winning the American Mideast Conference championship in men's tennis, the NAIA Region IX championship in women's tennis and men's baseball and placing second in the Men's and Women's All-Sports Award for the AMC.Fiscal year 2010 saw the opening of the Cecchini Center, a new state-of-the-art sports and performance arena which holds 1,900 fans. The Cecchini Center serves as the University's primary performance arena for large community events. It also serves as the home court to Walsh's men's and women's basketball teams. 51940170 1 1 0 0 0 0 1 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 96 0 1 1572 1 0 1 IT 0 0 0 1 1 0 0 0 36 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X Philip J Daniels VP Finance & Bu 3304907131 WALSH UNIVERSITY INC North Canton OH 447203396 Br Jerome Lessard 2.00 X 0 0 0 GeralD WALSH 2.00 X 0 0 0 Robert F Belden 2.00 X 0 0 0 Daniel P Cunningham 2.00 X 0 0 0 John E Dowling 2.00 X 0 0 0 Br Daniel Caron FIC 2.00 X 0 0 0 Donald Caster 2.00 X 0 0 0 Thomas Cecconi 2.00 X 0 0 0 DENNIS BIERY 2.00 X 0 0 0 WILLIAM CUSHWA 2.00 X 0 0 0 Gretchen A Graham 2.00 X 0 0 0 NANDITA DASH 2.00 X 0 0 0 Judge SHEILA G FARMER 2.00 X 0 0 0 Msgr James Clarke 2.00 X 0 0 0 Fr Mark Gruber OSB PhD 2.00 X 0 0 0 Leonard Milazzo 2.00 X 0 0 0 Dr JAMES F KING MD 2.00 X 0 0 0 Judith Barnes Lancaster 2.00 X 0 0 0 BR MARCEL SYLVESTRE FIC 2.00 X 0 0 0 gene little 2.00 X 0 0 0 Gregory Luntz 2.00 X 0 0 0 Edward Klekotka 2.00 X 0 0 0 Judge Sarah Lioi 2.00 X 0 0 0 MICHAEL PETRECCA 2.00 X 0 0 0 BR JOSEPH POWER FIC 2.00 X 0 0 0 alfonso revollo 2.00 X 0 0 0 edward j roth III 2.00 X 0 0 0 Dr Sheila Rutt PhD MBA 2.00 X 0 0 0 Dr Mark Joseph Shepard MD 2.00 X 0 0 0 Br guy roddy 2.00 X 0 0 0 Neil Walsh 40.00 X 57263 0 15165 Theodore Stults 2.00 X 0 0 0 Br Robert Smyth FIC 2.00 X 0 0 0 Bishop George Murry 2.00 X 0 0 0 Fr James Sullivan 2.00 X 0 0 0 Donald Walker 2.00 X 0 0 0 Paul Ruflin 2.00 X 0 0 0 Roger Deville 2.00 X 0 0 0 RICHARD L JUSSEAUME 40.00 X 238401 0 75888 dr laurence bove 40.00 X 122642 0 42495 Philip Daniels 40.00 X 112814 0 23281 dale howard 40.00 X 107473 0 30541 Bridgette Neisel 40.00 X 106994 0 27070 Brett Freshour 40.00 X 106822 0 23533 Ronald Fountain 40.00 X 108633 0 28931 Linda Linc 40.00 X 109971 0 14647 1071013 0 281551 8 0 1 0 Sodexo Inc & Affiliates 4880 Payshere Circle Chicago IL 60674 Dining Services 2598559 Fred Olivier Construction Co 6315 Promway Ave NW North Canton OH 44720 Construction Contractor 1293540 Hilscher-Clarke Electric Co Inc 519 4th St NW Canton OH 44703 Electrical Contractor 180190 Paragraphics Inc 2011 29th St NW Canton OH 44709 Mailing Services 169264 ohio floor company 9600 country rd 1 holmesville OH 44633 gym floor install and finishing 146855 6 65680 723337 3250615 4039632 Tuition and Fees 900099 49620773 49620773 Sales/service auxiliar 900099 9820464 9820464 59441237 165855 165855 477296 642374 -165078 -165078 -165078 2390997 2384884 6113 6113 6113 36447 65680 74035 -37588 -37588 Fines/Fees/Other 900099 485334 485334 Recovery of Bad Debts 900099 16090 16090 Interest Income Studen 900099 6859 6859 508283 63958454 59447350 0 471472 14284 14284 18863779 18863779 560704 148653 412051 17395598 15367609 1513848 514141 699475 595327 76272 27876 1725229 1463514 209165 52550 1361122 1159082 161542 40498 107002 703 106299 133027 133027 37731 37731 1540935 1075554 448638 16743 449451 259187 166311 23953 3228010 1607763 1496468 123779 1954028 1916244 30365 7419 1145460 1084253 41748 19459 380703 380701 2 3637206 3616360 20722 124 212321 77540 134781 Other Auxiliary 2440740 2368329 13384 59027 Other Instructional Exp 1030557 1017133 9549 3875 Loss on disposal of fix 561150 561150 Other Academic Support 522435 45852 465140 11443 Dues/Memberships/Subscr 396094 292782 94271 9041 415119 24371 375273 15475 58812160 51940170 5908856 963134 24603 25652 8094899 9832395 1961821 2920062 2397644 2378380 2335011 2431936 19563 17864 156620 60382 92516384 30143017 63715149 62373367 5126208 6058167 1710771 2548543 541617 308164 86083906 88954912 2193521 2641115 309255 249825 32725000 29625000 2620933 2827264 37848709 35343204 X 37145604 42633301 4456963 3695572 6632630 7282835 48235197 53611708 86083906 88954912 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 283902 X 0 7189514 1280315 825164 328229 49571 8917193 8003022 818304 -1582915 48897 7189514 0.25600 0.74400 0 0 1094403 1094403 65808050 15508701 50299349 1085650 489090 596560 14585667 11315830 3269837 9942614 2829396 7113218 62373367 Interest Payable 251453 Funds held for Others 118049 US Govt Grants Refundable 1138117 Interest Rate Swap 1008430 Tuition Deposits 311215 2827264 63958454 58812160 5146294 681997 -451780 230217 5376511 46041300 681997 -19315560 -18633563 64674863 -716409 -716409 63958454 40664790 716409 716409 39948381 18863779 18863779 58812160 Part III, Line 4: Walsh University owns the Hoover Historical Center of Walsh University, which is a small museum that houses a collection of vacuum cleaners and other items from the Hoover Company. The Hoover Historical Center was donated to Walsh University in 2004 and now supports the Museum Studies Program at the University. Part V, Line 4: Description of Intended Use of Endowment Funds: The majority of the endowment funds are used for scholarships. Part X: Description of Uncertain Tax Positions Under FIN 48: The University is a nonprofit organization as described in Internal Revenue Code Section 501(c)(3) and is exempt from income taxes pursuant to Section 501(a) of the Code. The University adopted ASC Topic 740 (formerly FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the University may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. In addition, the guidance on ASC Topic 740 addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management has determined that the effects of the adoption of this pronouncement to be insignificant, therefore no adjustments have been recorded and no further disclosures required. With few exceptions, the University is no longer subject to income tax examinations by tax authorities for years before 2007. Part XI, Line 8 - Other Adjustments: Gain/Loss on derivatives: -451780. Part XII, Line 2d - Other Adjustments: Tuition discounts: -18863779. interest rate swap: -451781. Part XII, Line 4b - Other Adjustments: rental expenses shown on 990 part i ln 6b: -642374. Fundraising expenses shown on 990 part 1 ln 8b: -74035. Part XIII, Line 2d - Other Adjustments: rental expenses shown on 990 part i ln 6b: 642374. Fundraising expenses shown on 990 Part 1 LN 8b: 74035. Part XIII, Line 4b - Other Adjustments: tuition discounts: 18863779. 1 1 1 LOCAL NEWSPAPERS AND OTHER PRINT MEDIA OF GENERAL CIRCULATION 1 1 1 1 0 0 0 0 0 0 0 0 1 0 FUNDS ARE PROVIDED BY GOVERNMENT AGENCIES UNDER VARIOUS FINANCIAL ASSISTANCE PROGRAMS AND ARE LOANED TO QUALIFIED STUDENTS. THE RECEIPT OF SUCH FUNDS GENERALLY REQUIRES COMPLIANCE AUDITS SO THAT THE TERMS AND CONDITIONS OF THE GRANTOR ARE MET. 1 Europe 1 4 Program Services instructional 608390 1 4 608390 X X X X X X X 1 Compass Consulting Group Consulting Services 0 0 30000 -30000 The Higher Education Practice LLP Consulting Services 0 0 7731 -7731 37731 -37731 AL AK CO CT DE FL GA HI ID IL IN IA CA AR MD LA KY KS MT MO MS MI MN ND NC NY NJ NM NV NE OR OK OH TN SD RI PA WV WA VA VT UT TX WY WI 50th Anniversary Gala 69380 51680 17700 35001 Immaculee 32747 14000 18747 39034 102127 65680 36447 74035 74035 -37588 0 Scholarships for students 1832 17357319 Discounts on tuition for students 353 1506460 X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD L JUSSEAUME 159532 0 25000 0 53869 0 49913 0 25975 0 314289 0 0 0 dr laurence bove 121488 0 600 0 554 0 8690 0 33805 0 165137 0 0 0 Part I, Line 1a tHE PRESIDENT'S CONTRACT INCLUDES A HOUSING ALLOWANCE THAT THE UNIVERSITY PAYS AS PART OF HIS WAGES. ALSO, COUNTRY CLUB DUES ARE PAID BY THE UNIVERSITY, AND THE PRESIDENT IS TAXED ON HIS W-2 FOR THE PERSONAL PORTION OF THOSE DUES. Ohio Higher Education Education Facility Commission 346849674 2009-11-19 30000000 Refunding issue 0 0 30000000 2007 1 0 1 1 0 0 1 0 1 0.03000 0.01100 0.04100 1 0 1 0 0 0 1 McKinley Life Insurance Company (MLIC) Edward Roth III is on the Board of Walsh and is the Executive VP of MLIC 690141 The University contracts with AultCare (MLIC) for health and dental insurance as well as the third party administrator (Aultra/Aultra Self) of our Health and Dependent Care Flexible Spending Accounts. Edward J. Roth, III is currently a member of the University's Board of Directors and is the president of Aultman Health Foundation. The selection of AultCare was made prior to Mr. Roth's appointment to the Board. Every two years, the university receives competitive quotes from the results of the market research performed by our brokers. if and when any issues concerning AultCare are taken to the board, Mr. Roth will follow the guidelines set by the conflict of interest policy and will abstain from voting. 0 fRED oLIVIERI Construction fRED OLIVIERI owns the company and is a FORMER BOARD MEMBER OF WALSH 490330 see extended description on the next page of Schedule 0 0 0 Huntington National Bank Gene Little is on the board and a director of Huntington Bancshares inc. 1289369 All depository funds are held at Huntington National Bank and the $30M tax exempt bond. 0 Aultra Self Edward Roth III board member of Walsh and is the executive VP of Aultra Sel 377390 See description for MLIC. 0 Thomas Dowling Son of Jack Dowling - board member of Walsh 26571 Compensation paid by Walsh 0 X 2 77338 FMV date of sale 0 0 0 Form 990, Part VI, Section B, line 11 Starting in 2010 (for the tax year ending June 30, 2009), each year a draft of the Form 990 will be presented to the Finance and Audit Committee for discussion and approval at the February meeting. Upon approval, the Finance and Audit Committee will recommend approval of the Form 990 by the full Board. The approved copy of the Form 990 will be made available to all Board members through electronic mail. Schedule B will be redacted in the emailed version with a hard copy made available to the Board at the finance office. Form 990, Part VI, Section B, line 12c Each year, the President's Office sends out "Confidential Disclosure Statements" to all members of the Board of Directors and the University's Officers. By completing and signing the statements each member or officer is certifying that they have carefully read the Walsh University Board of Directors Conflict of Interest Policy; that they will abide by the letter and the spirit of the Policy and that they will make all disclosures required under the terms of the Policy. The completed and signed statements are sent to the Secretary of the Board of Directors. The Secretary and the Chair of the Board review the statements and make a determination as to the likelihood of any actual or potential conflicts of interests. Form 990, Part VI, Section B, line 15a In the spring of 2007, the current compensation committee was formed to amend the President's contract. The Committee consists of the Chairman of the Board of Directors, the Vice-Chairman of the Board of Directors, the Finance and Audit Committee Chairman, and the VP of Finance and Business affairs/CFO. Additional input came from the Director of Human Resources. The committee established the president's contract amendment no. 1, effective july 1, 2007, which defines additional benefits. the compensation committee used the following information and services to establish the amendment; the NAICU presidents network salary survey, the CUPA-HR Administrative compensation survey, consulting and legal services. Each year the chairman and vice-chairman of the board approve the president's bonus. the committee would only convene if the president was being awarded a higher percentage of increase than the rest of the faculty and staff of the University. Each year all contract adjustments and bonus allocations are approved by the board of directors at the may board meeting through the approval of the next year's operating budget. Form 990, Part VI, Section C, line 19 Walsh University does not make governing documents, conflict of interest policy and financial statement available to the general public. However, the University will provide these documents to the general public upon request. Part XI, Line 2c No changes were made to the organization's oversight process or selection process during the tax year. Schedule L, Part IV, Column B, Line 2 Description of relationship between interested person and organization Fred Olivieri Construction Company was selected as the general contractor for the construction of the University's new chapel (completed in FY07) and for the renovation of the University's former student center into a business and community center (completed in FY06). Fiscal year 2006 was Mr. Alfred A. Olivieri's, the CEO of Fred Olivieri Construction Company, last year as a member of Walsh University's Board of Directors. The selection of the general contractor for these projects was based upon a sealed bid process with contractors given the option to bid on one or both of the projects. Several firms participated and Fred Olivieri Construction Company came in as the lowest bidder on the combined projects and was awarded the contracts accordingly. Fred Olivieri Construction Company also served as the construction manager on the renovation of the University's physical education building (completed in FY07) and the Towers II Residence Hall (completed in FY08). In FY08 Fred Olivieri Construction Company was also awarded the construction contracts for the Campus Sport Complex (completed in FY10) and the Community Counseling Clinic (completed in FY09), both additions to existing buildings. Fred Olivieri was awarded these projects as a result of the "economies of scale" that would be recognized by the University, due to Fred Olivieri's knowledge of the existing buildings and savings on architectural fees. The selection was also based on the company's qualifications and strong reputation. It was also determined that Fred Olivieri Construction Company, as construction manager, would be responsible for utilizing a competitive bid process in the selection of all subcontractors.