2011-04-13T21:01:56-05:00 2010-05-31 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2009-06-01 951643334 Loyola Marymount University LOYO 3103382714 1-LMU Drive U-Hall Los Angeles CA 90045 THOMAS O FLEMING JR 3103382738 2011-04-12 true PRICEWATERHOUSECOOPERS LLP 6175305000 2011-04-11 2009 2016-02-24 21:20:13Z Mr Thomas O Fleming Jr CFOSVP 1-LMU DRIVE U-HALL STE 4900 LOS ANGELES CA 90045 479308000 false X www.lmu.edu X 1918 CA LOYOLA MARYMOUNT UNIVERSITY MAINTAINS A THREE-FOLD MISSION: 1) THE ENCOURAGEMENT OF LEARNING, 2) THE EDUCATION OF THE WHOLE PERSON, AND 3) THE SERVICE OF FAITH AND THE PROMOTION OF JUSTICE. 43 39 7068 1 2520000 0 31709000 33262000 305276000 321541000 -5907000 10879000 -1170000 -468000 329908000 365214000 60240000 68788000 0 0 169957000 180964000 153000 73000 9260000 97987000 96788000 328337000 346613000 1571000 18601000 924046000 1016746000 261901000 289452000 662145000 727294000 LOYOLA MARYMOUNT UNIVERSITY MAINTAINS A THREE-FOLD MISSION: 1) THE 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1016746000 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 2755 false true 127000 129755 false Schedule C, Part II-B, Line 1i The University hired the National Group (D.C. lobbying firm) to work on Congressionally directed funding. X X X false false true 334428000 9623000 38715000 186000 6074000 376506000 419203000 5172000 -73387000 15135000 1262000 163000 334428000 0.56000 0.33000 0.11000 false false 47696000 47696000 9962000 409549000 84422000 335089000 39416000 22329000 17087000 129781000 82647000 47134000 112371000 42202000 70169000 517175000 COMMINGLED FUNDS 113845000 F ALTERNATIVE INVESTMENT FUNDS 137478000 F REAL ESTATE AND OTHER 4654000 F 255977000 0 US GOVERNMENT GRANTS REFUNDABLE 10986000 FOR OTHERS 638000 LOAN FUNDS RETURNABLE TO DONOR 1152000 12776000 365214000 346613000 18601000 30004000 -1098000 18847000 -1205000 46548000 65149000 392915000 30004000 -1205000 28799000 364116000 1098000 1098000 365214000 346613000 346613000 346613000 SCHEDULE D, PART III, LINE 1A: The University has elected not to capitalize collections or works of art. These items would be disclosed in the financial statements if materiality thresholds deemed disclosure appropriate. Schedule D, Part III, Line 4: The University maintains a number of art collections which are described in great detail on the University's website: http://library.lmu.edu/specialcollections. Art and collections are available for public exhibition and are primarily used for educational purposes. Schedule D, Part IV, Line 2B: The University serves as Trustee for three charitable remainder trusts and maintains the assets and corresponding reserve liabilities on the balance sheet. Similarly, the University has a number of annuities where the assets and corresponding reserve liabilities are on the balance sheet. Schedule D, Part V, Line 1: Current year balances were taken from the University's SFAS 117 financial statement disclosure. Prior year balances are audited and accurate, yet reflect a different reporting methodology. For consistency, the University will use the SFAS 117 disclosure to report balances going forward. Schedule D, Part V, Line 4: The overall purpose of the Endowment Fund is to provide a relatively predictable, stable, and consistent return sufficient to meet a portion of the spending needs of the University. The endowment funds have been established to provide funding for activities that support the University's educational mission. Schedule D, Part X: The University does not maintain any uncertain tax positions. Schedule D, Part XI, Line 8 and Part XII, Line 2D: Equals Fundraising direct expenses of $157,000 plus Unrealized/Realized Gain/(Losses) on Interest Rate Swap of ($1,362,000) Schedule D, Part XI: The University's beginning fiscal year net asset balance was revised up by $18,847,000 as a result of a prior period adjustment. Excluding this prior period adjustment on Part XI, Line 7, the University's net asset increase was $46,302,000 which ties to the audited financial statements. true true true THE NON-DISCRIMINATION POLICY IS ACCESSIBLE VIA THE UNIVERSITY'S WEBSITE AND IS INCLUDED IN UNIVERSITY PUBLICATIONS INCLUDING THE UNIVERSITY BULLETIN, RECRUITMENT MATERIALS, ADVERTISEMENTS (STUDENT, FACULTY, STAFF), AND OTHER RELATED MATERIALS. true true true true false false false false false false false false true false THE UNIVERSITY RECEIVES ASSISTANCE FROM THE FOLLOWING STATE AND FEDERAL AGENCIES: 1. CALIFORNIA STUDENT AID COMMISSION 2. DEPARTMENT OF HEALTH AND HUMAN SERVICES 3. INSTITUTION OF MUSEUM AND LIBRARY SCIENCES 4. NATIONAL AERONAUTICS AND SPACE ADMINISTRATION 5. NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION 6. NATIONAL SECURITY AGENCY 7. UNITED STATES AIR FORCE OFFICE OF SCIENTIFIC RESEARCH 8. U.S. DEPARTMENT OF AGRICULTURE 9. U.S. DEPARTMENT OF EDUCATION true true Central America and the Caribbean Program Services Study Abroad East Asia and the Pacific Program Services Study Abroad Europe (Including Iceland and Greenland) 1 3 Program Services STUDY ABROAD North America Program Services STUDY ABROAD EUROPE INVESTMENTS Central America and the Caribbean Investments 1 3 0 0 Scholarship for Tuition Europe/Iceland/Greenland 34 155000 wire/credit Scholarship for Tuition East Asia/Pacific 2 5000 wire/credit Schedule F, Part I, Line 2: Awards wired to a non-U.S. organization are designated for specific students. Awards may be wired or credited to student accounts domestically. Schedule F, Part I, Column (f): The organization does not currently track foreign expenditures for each program separately. X X X X X X X true PLUS DELTA PARTNERS CONSULTING false 0 49500 0 GRENZEBACHGLIER ASSOC INC Consulting false 0 23040 0 0 72540 0 MAAA DINNER 131150 103600 27550 22210 45387 GOLF CLASSIC 126589 49425 77164 950 30124 2103 24381 1 81645 33930 47715 1788 880 29037 339384 186955 152429 950 30124 26101 880 98805 156860 -4431 true United Way 523 W 6th Street LOS ANGELES CA 90014 952274801 501(c)(3) 16000 Annual Donation 1 0 Scholarships/Grants for Students Attending Univ. 5465 68597000 SCHEDULE I, PART I, LINE 2 THE UNIVERSITY AWARDS FEDERAL GRANT FUNDS TO STUDENTS ACCORDING TO FEDERAL AND INSTITUTIONAL POLICIES. FUNDS AWARDED TO STUDENTS ARE MONITORED BY OUR MANAGERS OF FEDERAL PROGRAMS AND COMPLIANCE, AND RECONCILIATION IS A COLLABORATIVE EFFORT BETWEEN FINANCIAL AID AND ACCOUNTING, AND IS COMPLETED MONTHLY. CASH GRANTS ARE CREDITED TO STUDENT ACCOUNTS. Schedule I, Part III Cash grants are credited to student accounts. X X false true X X X false false false false false false false false false Elena M Bove EDD 203666 0 0 11700 0 20009 0 18936 0 254311 0 0 0 David W Burcham JD 366206 0 0 0 17918 0 27000 0 15879 0 427003 0 0 0 Rebecca Chandler 180939 0 0 0 2427 0 17580 0 11195 0 212141 0 0 0 Dennis Draper 302879 0 0 0 0 0 24789 0 20787 0 348455 0 0 0 Thomas O Fleming Jr 241330 0 0 0 12575 0 22328 0 29314 0 305547 0 0 0 Frederick Garcia 208837 0 50000 0 8089 0 2388 0 27383 0 296697 0 0 0 VICTOR J GOLD JD 317331 0 0 0 9050 0 28330 0 28055 0 382766 0 0 0 Max Good 286776 0 0 0 5786 0 22362 0 23185 0 338109 0 0 0 JOSEPH HELLIGE 183629 0 0 0 2529 0 18468 0 40610 0 245236 0 0 0 Lori A Husein 172144 0 0 0 795 0 17039 0 71295 0 261273 0 0 0 Allan Ides 237335 0 0 0 0 0 22763 0 14081 0 274179 0 0 0 Shane Martin 263425 0 0 0 7425 0 24181 0 14527 0 309558 0 0 0 Richard Plumb 237207 0 0 0 11037 0 22428 0 19955 0 290627 0 0 0 Anne Prisco PHD 197930 0 0 0 15393 0 569 0 51814 0 265706 0 0 0 Ernest D Rose PHD 269716 0 0 0 37579 0 24258 0 25142 0 356695 0 0 0 Evelynne B Scarboro 246053 0 0 0 9574 0 22138 0 12387 0 290152 0 0 0 Dennis Slon 254162 0 0 0 12359 0 22537 0 11497 0 300555 0 0 0 SCHEDULE J, PART I, LINE 1A AND 1B On-campus housing is provided to the President for the convenience of the University and as a condition of employment. Certain university officers receive social club dues. In these situations, it is required that these officers reimburse the university for all personal use expenses, or the individual will be taxed on the personal use amount. All social club expenses and reimbursements are reviewed and approved as appropriate by the relevant authorities. The university does not currently follow a written policy regarding payment and reimbursement for those expenses as the review and approval process is comprehensive, and unusual expenses or reimbursement requests would be questioned. SCHEDULE J, PART II, Column D Nontaxable Benefits may include tuition remission benefits for certain individuals. ADDITIONAL INFORMATION The president of the university, also a trustee of the university, has taken a vow of poverty. All of his compensation and benefits (excluding on-campus housing) have been paid directly to the jesuit community. The amount reported in Part VII, Column (F) represents the value of on-campus housing provided to the president for the convenience of the university and as a condition of employment. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130178VP8 2010-03-30 67035951 SEE SCHEDULE O false false CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130178VI0 2010-03-30 38500000 REFUND SERIES 2008 (PARTIAL) false false 67035951 0 42279627 24128841 627483 0 0 true false false 38500000 0 38125000 0 375000 0 0 true false false false true false false 0.00600 0.00000 0.00600 true false false true false false 0.01800 0.00000 0.01800 true false false false false false true false true false false false Ernest Rose Officer X 250000 150000 false true true Anne Prisco Key Emp X 150000 120000 false true true Dennis Draper X 100000 90000 false true true Richard Plumb X 500000 500000 false true true 860000 Student Family Member of Trustee 17000 Scholarship MUSICK PEELER GARRETT TRUSTEE IS PARTNER 222117 LEGAL SERVICE FEE false BANK OF AMERICA TRUSTEE IS OFFICER 1308510 BANK SVC FEE, DERIVATIVE PMTS false LINDA ROSE FAMILY MEMBER OF OFFICER 30843 COMPENSATION false MAGGIE BOVE-LAMONICA Family member of Officer 47433 compensation false PAUL PRISCO FAMILY MEMBER OF KEY EMP 10048 compensation false John Page Family member of Trustee 124296 compensation false X 3 0 X 24 410478 fair market value X Athletic Equipment/Other 30 155336 cost X Athletic Uniforms 17 108148 cost 0 false true true Schedule M, Part I, COLUMN B: THE UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS AND NOT THE NUMBER OF ITEMS. Schedule M, Part I, 32B: THE UNIVERSITY MAY UTILIZE EXTERNAL INVESTMENT MANAGERS TO MANAGE AND LIQUIDATE PUBLICLY TRADED SECURITIES. THE UNIVERSITY MAY ALSO UTILIZE EXTERNAL REAL ESTATE PROFESSIONALS TO LIQUIDATE REAL ESTATE CONTRIBUTIONS. SCHEDULE M, PART I, 33: THE UNIVERSITY HAS ADOPTED SFAS NO. 116 - DISCLOSURE REQUIREMENTS. ASSETS DETERMINED TO BE A COLLECTION OR WORKS OF ART MAY NOT BE INCLUDED IN REVENUES OR GAINS IF THEY ARE NOT CAPITALIZED. THE CAPITALIZATION OF COLLECTIONS IS OPTIONAL. FORM 990, PART I, Line 5 A TOTAL OF 7,068 INDIVIDUALS WERE SENT W-2S BY THE UNIVERSITY IN CALENDAR YEAR 2009. INCLUDED IN THIS NUMBER ARE 2,955 EMPLOYEES AND 4,113 STUDENT WORKERS. FORM 990, PART I, Line 6 THERE ARE A NUMBER OF STUDENTS AND ALUMNI THAT VOLUNTEER THEIR TIME FOR VARIOUS PURPOSES AT THE UNIVERSITY. THESE VOLUNTEERS, HOWEVER, ARE NOT FORMALLY TRACKED BY THE UNIVERSITY. FORM 990, PART III, Line 4a LOYOLA MARYMOUNT UNIVERSITY IS AN INDEPENDENT, COEDUCATIONAL UNIVERSITY. IN FISCAL 2010, LMU PROVIDED INSTRUCTION, RESEARCH, STUDENT SERVICES, AND ACADEMIC SUPPORT FOR 8,496 FULL-TIME EQUIVALENT STUDENTS. OF THESE STUDENTS, 5,637 WERE UNDERGRADUATES, 1,648 WERE IN VARIOUS GRADUATE PROGRAMS, and 1,211 WERE ENROLLED AT LOYOLA LAW SCHOOL. FULL TIME FACULTY EMPLOYED WAS 507, PART-TIME WAS 451, FOR A TOTAL FACULTY OF 958. FORM 990, PART V, LINE 4B THE ORGANIZATION HAD FINANCIAL ACCOUNTS IN THE FOLLOWING FOREIGN COUNTRIES: ITALY UNITED KINGDOM CAYMAN ISLANDS Form 990, PART VI, SECTION A, LINE 4 The bylaws were changed to increase the authorized number of trustees to 50 from 43. Further, a minimum of 8 members of the Board shall be selected from the membership of the Society of Jesus, up one from 7. Finally, a minimum of 4 members of the Board shall be members of the Sisters, up from 3. Form 990, PART VI, SECTION A, LINE 11A In conjunction with PricewaterhouseCoopers, a Form 990 is prepared for management review. The Form 990 is then reviewed by the audit committee. A copy of the Form 990 was provided to the University's governing body before it was filed. Form 990, PART VI, SECTION B, LINE 12B The conflict of interest policy for administrative employees (including officers and key employees) is completed by those individuals who are not on the faculty when hired. It is updated annually or at a time of significant change in interest occurs thereafter by all individuals designated by the Senior Vice President of a division or by the President for the University as a whole. Internal Audit administers the distribution and collection of the annual disclosures working with the appropriate Senior Vice Presidents. In accordance with the policy, for matters disclosed, a written determination as to whether the matter constitutes a conflict is made by the Senior Vice President of the employee's division. The employee is informed of the determination. The Trustee's Conflict of Interest Policy is administered by the President's Office annually, and disclosures are reviewed by the University's General Counsel. If it is determined that a conflict exists, the Trustee does not vote with the Board of Trustees on matters that relate to that conflict. A SEPARATE POLICY EXISTS FOR FACULTY MEMBERS WHO DO NOT HAVE BUDGET AUTHORITY (THE FACULTY POLICY). Form 990, PART VI, SECTION B, LINE 15 An independent compensation consultant completes a comprehensive study of Executive Compensation every other year in odd years, and uses a predetermined comparator group of universities and similar sized organizations to benchmark leadership positions. Well recognized salary survey data is used. All executives are employed "at will" but compensation at time of hire is articulated in their employment agreements. The Board of Trustees reviews and approves the compensation for the President, CFO, and Provost annually. The members of the Society of Jesus, the Religious of the Sacred Heart of Mary, and the Sisters of St. Joseph of Orange constitute aproximately 3% of the University's full and part-time faculty and administrative staff. During the year ended May 31, 2010, the University paid these religious communities approximately $3,718,000 for their services. The payment to the Society of Jesus includes payment for the services of Robert B. Lawton, SJ, the University's President. Form 990, PART VI, SECTION C, LINE 19 The University's financial statements, form 990, form 990-T, and conflict of interest policy are all available for public review on the University's website. The University's governing documents are available for public review upon request. SCHEDULE K, PART I, LINE A, COLUMN (F) A PORTION OF THE CEFA SERIES 2010A BOND PROCEEDS WERE USED TO CURRENTLY REFUND CEFA SERIES 2008 (PARTIAL) AND CEFA 1997 (FULL) BONDS. THE REMAINING PROCEEDS HAVE BEEN DESIGNATED FOR SPECIFIC CAPITAL PROJECTS ACROSS THE UNIVERSITY'S CAMPUS. SCHEDULE L, PART IV THE UNIVERSITY MAY, AT TIMES, CONDUCT BUSINESS WITH ANOTHER ORGANIZATION WHEREBY A KEY OFFICER OF THAT ORGANIZATION ALSO SITS ON THE UNIVERSITY'S BOARD OF TRUSTEES. THE UNIVERSITY'S DECISION TO TRANSACT BUSINESS WITH SUCH AN ORGANIZATION IS MADE INDEPENDENT OF THE BOARD MEMBER AND IS AT ARM'S LENTGTH.