2011-05-13T09:29:42-05:00 2010-06-30 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2009-07-01 060776644 SACRED HEART UNIVERSITY INCORPORATED SACR 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 MICHAEL KINNEY 2033717872 2011-05-11 1 ELIZABETH SOLECKI 8605614000 2009 2016-02-24 21:20:13Z ANTHONY J CERNERA 5151 PARK AVENUE FAIRFIELD CT 06825 177084848 0 X WWW.SACREDHEART.EDU X 1963 CT THE UNIVERSITY IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE AND GRADUATE DEGREES, AS WELL AS CONTINUING EDUCATION IN A VARIETY OF DISCIPLINES, WITH A COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION. 26 24 3227 150 300632 -59225 14487113 10672790 156314332 161211543 -4176838 4992227 -97009 -2225 166527598 176874335 35944717 40044950 0 68220909 65109916 0 1310876 56113229 54294238 160278855 159449104 6248743 17425231 248433761 269064061 135991625 133902855 112442136 135161206 AT SACRED HEART UNIVERSITY, WE NOT ONLY PREPARE STUDENTS FOR THE FUTURE, BUT ALSO GIVE THEM A DEEPER APPRECIATION OF WHO THEY ARE AND ALL THEY CAN BE. THROUGH OUR DISTINCTIVE MISSION AND COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION, WE HELP STUDENTS HELP OTHERS. AND, TOGETHER, WE MAKE A DIFFERENCE IN THE WORLD. THE SHU MISSION: THE PURSUIT OF TRUTH AND KNOWLEDGE AS INTRINSICALLY VALUABLE; COMMITMENT TO EXCELLENCE IN ALL THAT WE DO; RESPONSIBILITY FOR THE COMMON GOOD OF SOCIETY; RECOGNITION OF THE DIGNITY AND WORTH OF EVERY HUMAN BEING; PRESERVATION, TRANSMISSION AND DEVELOPMENT OF THE LIBERAL ARTS AND CATHOLIC INTELLECTUAL TRADITION. OUR VISION IS TO SHAPE GRADUATES KNOWLEDGEABLE OF SELF, ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, RESPONSIVE TO SOCIAL AND CIVIC OBLIGATIONS AND ABLE TO RESPOND TO AN EVER-CHANGING WORLD. 0 0 50677448 134124267 SACRED HEART CONTINUES TO OFFER A WIDE RANGE OF UNDERGRADUATE AND GRADUATE PROGRAMS. REGARDLESS OF WHAT UNDERGRADUATE PROGRAM OR GRADUATE STUDIES ARE CHOSEN, OUR FOCUS ON UNPARALLELED ACADEMIC OPPORTUNITIES - ROOTED IN THE CATHOLIC INTELLECTUAL TRADITION AND THE PRINCIPLES OF ENGAGED LEARNING - CREATES AN ABSORBING, CUSTOMIZED EDUCATIONAL EXPERIENCE FOR EACH STUDENT. 40044950 40044950 SACRED HEART UNIVERSITY'S STUDENT FINANCIAL ASSISTANCE OFFICE IS COMMITTED TO HELPING STUDENTS AND THEIR FAMILIES FIND THE MOST AFFORDABLE OPTIONS AVAILABLE FOR ATTENDING COLLEGE. FOR FULL-TIME UNDERGRADUATE STUDENTS, THERE ARE BASICALLY TWO TYPES OF FINANCIAL ASSISTANCE: FIRST, TRADITIONAL MERIT OR NEED-BASED MERIT AID; AND SECOND, A RANGE OF OTHER OPTIONS OPEN TO STUDENTS AND THEIR FAMILIES WHETHER THEY QUALIFY FOR TRADITIONAL AID OR NOT. SEVERAL FINANCIAL ASSISTANCE OPTIONS ARE ALSO AVAILABLE TO QUALIFIED PART-TIME UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. 23174334 23691718 AUXILIARY SERVICES PROVIDE ROOM AND BOARD FOR STUDENTS. THE OFFICE OF RESIDENTIAL LIFE SERVES THE RESIDENTIAL STUDENT POPULATION BY PROVIDING OPPORTUNITIES TO LIVE IN A SAFE, COHESIVE, LEARNING COMMUNITY WHILE EMPOWERING THOSE STUDENTS TO CONTINUALLY DEVELOP MENTALLY, PHYSICALLY, SOCIALLY, AND SPIRITUALLY. 22793747 3094926 OTHER GENERAL AND STUDENT SERVICES. 22793747 3094926 136690479 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 1 1 0 1 1 0 0 0 0 0 0 0 1 354 0 1 3227 1 1 1 1 EI LU 0 0 0 1 1 0 0 0 26 24 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL J KINNEY 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 PETER TERPELUK JR 1.00 X 0 0 0 MOST REVEREND WILLIAM E LORI STD 1.00 X X 0 0 0 JAMES J COSTELLO 1.00 X X 0 0 0 MARY-ANN BUNTING 1.00 X 0 0 0 WILLIAM E MITCHELL 1.00 X 0 0 0 JAMES T MORLEY JR 1.00 X X 0 0 0 REV MSGR WILLIAM A GENUARIO JCD 1.00 X 0 0 0 KRIS E DURMER 1.00 X 0 0 0 ROBERT J MATURA 1.00 X 0 0 0 LINDA E MCMAHON 1.00 X 0 0 0 LOIS SCHINE 1.00 X 0 0 0 JEFFREY A SONNENFELD 1.00 X 0 0 0 REV MSGR KEVIN W WALLIN 1.00 X 0 0 0 MARK E FREITAS 1.00 X 0 0 0 FRANK R MARTIRE 1.00 X 0 0 0 ROBERT L CORCORAN 1.00 X 0 0 0 ROBERT L JULIANELLE 1.00 X X 0 0 0 CHRISTOPHER K MCLEOD 1.00 X 0 0 0 ROSANNE BADOWSKI 1.00 X 0 0 0 VINCENT MAFFEO 1.00 X 0 0 0 NORBERT BECKER 1.00 X 0 0 0 PATRICK J CAROLAN MD 1.00 X 0 0 0 LAWRENCE G FOLEY 1.00 X 0 0 0 REV ROBERT M KINNALLY 1.00 X 0 0 0 VINCENT A ROBERTI 1.00 X 0 0 0 ANTHONY J CERNERA 35.00 X X 742995 0 84380 THOMAS V FORGET PHD 35.00 X 236908 0 23711 MICHAEL J KINNEY 35.00 X 264785 0 26398 JAMES BARQUINERO 35.00 X 226375 0 17102 MARY P YOUNG 35.00 X 202672 0 22743 ROBERT M HARDY 35.00 X 179840 0 15379 JOHN J PETILLO 35.00 X 204081 0 4424 PHILIP J MCCABE 35.00 X 160051 0 14730 PATRICIA W WALKER 35.00 X 175794 0 14854 CLAIRE J PAOLINI 35.00 X 170556 0 15968 DAVID L COPPOLA 35.00 X 169496 0 17062 2733553 0 256751 68 0 1 0 CHARTWELL'S HIGHER EDUCATION C/O BANK OF AMERICA PO BOX 91337 CHICAGO IL 606931853 FOOD SERVICES 6327002 LANESE CONSTRUCTION INC 190 CALHOUN AVENUE BRIDGEPORT CT 06604 CONSTRUCTION SERVICES 2442069 PAVARINI NORTH EAST CONSTRUCTION CO 1111 SUMMER STREET STAMFORD CT 06905 CONSTRUCTION SERVICES 2289979 SASAKI ASSOCIATES INC 64 PLEASANT STREET WATERTOWN MA 024729149 ARCHITECTURAL SERVICES 1305052 PEOPLE'S UNITED INSURANCE AGENCY INC PO BOX 421 BRATTLEBORO VT 05402 INSURANCE BROKERS 1153483 68 626149 4473316 5573325 229962 10672790 TUITION AND FEES 611310 134545111 134545111 AUXILIARY ACTIVITIES 611310 23691718 23691718 OTHER INCOME 900099 2003214 1746066 257148 PITT CENTER & ATHLETIC 611310 971500 928016 43484 161211543 1856304 1856304 173978 77937 96041 96041 96041 3135923 3135923 3135923 3135923 34310 626149 132576 -98266 -98266 176874335 160910911 300632 4990002 40044950 40044950 2027612 453291 1356735 217586 48762528 43557263 4468929 736336 2815105 2265673 549432 7674094 6422230 1251864 3830577 3082952 747625 393196 43213 349983 162000 162000 339545 339545 19160562 10561887 8312374 286301 815741 753861 52665 9215 11041303 10094072 939088 8143 1320407 1175940 127462 17005 340575 319000 17633 3942 3724158 3602161 121997 10528615 10157449 371166 1573161 251539 1321622 PURCHASING 2417046 1936780 477482 2784 CONTRACT SERVICES 1667181 1230966 436215 SPECIAL EVENTS 810748 737252 43932 29564 159449104 136690479 21447749 1310876 14714790 14756919 7058638 5288958 2102315 2432513 14000 238807168 93920942 136379739 144886226 70213766 82855801 17950513 18843644 248433761 269064061 18657035 17444065 4019478 4713499 85731779 83456709 26447195 26720608 1136138 1567974 135991625 133902855 X 86367699 111709531 14032230 11255210 12042207 12196465 112442136 135161206 248433761 269064061 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2900 X 0 67039061 6641974 8570742 339545 81912232 75715465 5501555 -12772805 474106 569523 361525 67039061 0.85000 0.15000 0.00000 0 0 11255388 11255388 114113022 33002387 81110635 57746455 21422345 36324110 41199374 32266167 8933207 14492929 7230043 7262886 144886226 LAND HELD FOR SALE 3350000 INTEREST IN SPLIT-INTEREST AGREEMENTS 225455 FUNDS HELD BY BOND TRUSTEE 10135759 DEFERRED FINANCING COSTS 1601809 OTHER ASSETS 716822 PREPAID EXPENSES 2813799 18843644 GOVERNMENT GRANTS REFUNDABLE - STUDENT LOANS 236966 CAPITAL LEASE OBLIGATIONS 1331008 1567974 176874335 159449104 17425231 5293839 5293839 22719070 141994192 5293839 -40384495 -35090656 177084848 -210513 -210513 176874335 119275122 210513 210513 119064609 40384495 40384495 159449104 Part III, Line 4: WORKS OF ART ARE CONTRIBUTED TO THE UNIVERSITY FROM VARIOUS DONORS. THE SCHOOL EXHIBITS THEM IN THE CAMPUS GALLERY FOR PUBLIC VIEWING. Part V, Line 4: Description of Intended Use of Endowment Funds: THE UNIVERSITY USES THE FUNDS FOR STUDENT SCHOLARSHIPS, TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES TO MAINTAIN AND EXPAND THE UNIVERSITY CAPITAL INFRASTRUCTURE IN ORDER TO MAINTAIN THE UNIVERSITY'S FINANCIAL STABILITY. Part X: Description of Uncertain Tax Positions Under FIN 48: IN JUNE 2006, THE FASB ISSUED FASB INTERPRETATION NO. 48 (FIN 48), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND INTERPRETATION OF FASB STATEMENT NO. 109. FIN 48 ADDRESSES THE ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FIN 48 ALSO PROVIDES RELATED GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURES. THERE WAS NO SIGNIFICANT IMPACT ON THE UNIVERSITY'S FINANCIAL STATEMENTS AS A RESULT OF THE ADOPTION OF FIN 48. Part XII, Line 2d - Other Adjustments: FINANCIAL AID: -40044950. INVESTMENT FEES: -339545. Part XII, Line 4b - Other Adjustments: FUNDRAISING EXPENSES: -132576. RENTAL EXPENSES: -77937. Part XIII, Line 2d - Other Adjustments: FUNDRAISING EXPENSES: 132576. RENTAL EXPENSES: 77937. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID: 40044950. INVESTMENT FEES: 339545. 1 1 1 THE UNIVERSITY IS COMMITTED TO FULLFILLING ITS MISSION WITHOUT DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN STATUS. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 SACRED HEART UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION. THE FUNDS THAT THE UNIVERSITY RECEIVES ARE PELL GRANT, SEOG GRANT, ACADEMIC COMPETITIVENESS GRANT AND FEDERAL WORK-STUDY WHICH ARE FINANCIAL AID PROGRAMS. 1 1 Europe (Including Iceland & Greenland) 2 3 PROGRAM SERVICES EDUCATIONAL 1083980 2 3 1083980 Procedure for Monitoring Grants Outside the U.S.: Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: IRELAND: SACRED HEART UNIVERSITY OFFERS PERHAPS THE MOST IMMERSIVE IRISH STUDIES PROGRAM ANYWHERE, AS STUDENTS HAVE THE MATCHLESS OPPORTUNITY TO DELVE INTO IRISH CULTURE IN THE HEART OF THE IRISH-SPEAKING DINGLE GAELTACHT REGION. HERE, STUDENTS DON'T JUST STUDY IN IRISH SURROUNDINGS, THEY LIVE THE IRISH EXPERIENCE THROUGH HANDS-ON SEMINARS LEAD BY ACCOMPLISHED SCHOLARS AND LOCAL EXPERTS. ALL OF OUR COURSES FEATURE ACTIVE PARTICIPATION - BOTH IN AND OUT OF THE CLASSROOM. WHAT DEVELOPS IS A PROFOUND UNDERSTANDING OF CELTIC CULTURE, AS WELL AS A GREATER APPRECIATION OF DIVERSE SOCIETIES, RITUAL AND CELEBRATION IN THE MODERN WORLD, AND THE STIRRING CONNECTIONS BETWEEN THE AGES. LUXEMBOURG: THE JOHN F. WELCH COLLEGE OF BUSINESS IS SUCH AN EXCITING LEARNING COMMUNITY OFFERING AN MBA CURRICULUM THAT EMPHASIZES A GLOBAL BUSINESS EDUCATION. STUDENTS STUDYING ON THE LUXEMBOURG CAMPUS BENEFIT FROM A SEASONED FACULTY OF INTERNATIONAL SCHOLARS AND PRACTITIONERS FROM BOTH THE US AND EUROPE WHO CAN PROVIDE PERSONAL ATTENTION TO EACH STUDENT. AS LUXEMBOURG IS AN INTERNATIONAL, VIBRANT, AND DYNAMIC PLACE TO STUDY, MANY STUDENTS ARE WORKING PROFESSIONALS FROM DIFFERENT CULTURAL BACKGROUNDS. MANY ARE ACCOMPLISHED PROFESSIONALS IN THEIR FIELD THAT ENRICH CLASSROOM DISCUSSIONS AND ADD SPECIFIC VALUE TO THE PROGRAM. WHAT FURTHER SETS THE PROGRAM APART IS THE STRONG EMPHASIS ON THE DEVELOPMENT OF AN INDIVIDUAL LEADERSHIP STYLE. AS A CONSEQUENCE, OUR STUDENTS NOT ONLY IMPROVE THEIR CRITICAL THINKING AND PROBLEM SOLVING SKILLS, BUT ARE ALSO ENGAGED IN DEVELOPING THEIR ETHICAL STANDARDS AND GLOBAL UNDERSTANDING. X X 1 RUFFALO CODY LLC PHONE-A-THON 0 16799 7413 9386 16799 7413 9386 PIONER GOLF TOURNAMENT 148548 134238 14310 11799 13730 37852 DISCOVER DINNER 511911 491911 20000 69195 660459 626149 34310 11799 13730 107047 132576 -98266 1 SEOG 287 327099 CONNECTICUT INDEPENDENCE COLLEGE SCHOLARSHIPS 588 2307943 ACADEMIC COMPETITIVENESS GRANT 216 182806 SMART GRANT 25 94000 RESIDENCE HALL ASSISTANT WAIVERS AND AWARDS 79 646909 OTHER SCHOLARSHIPS WHICH ARE NEEDS BASED OR BASED ON ATHLETIC OR ACADEMIC TALENTS 3085 36486193 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE THREE AREAS OF FINANCIAL ASSISTANCE TO STUDENTS ARE LOANS, GRANTS, AND EMPLOYMENT (WORK-STUDY). THESE ARE GENERALLY AWARDED ON THE BASIS OF FINANCIAL NEED, DETERMINED BY AN ANALYSIS OF FAMILY INCOME AND ASSETS. SCHOLARSHIPS ARE ANOTHER SOURCE OF FINANCIAL ASSISTANCE. THEY ARE AWARDED ON THE BASIS OF ACADEMIC ACHIEVEMENT, EXCELLENCE IN ATHLETICS OR SPECIAL TALENTS, AND COMMUNITY SERVICE OR LEADERSHIP. CRITERIA FOR SOME MERIT BASED AWARDS ALSO INCLUDE A FINANCIAL NEEDS REQUIREMENT. CURRENTLY THOSE STUDENTS WHO DEMONSTRATE THE GREATEST FINANCIAL NEED RECEIVE THE MOST FINANCIAL ASSISTANCE. THE UNIVERSITY MONITORS THE AMOUNT ISSUED BY PERFORMING A COST OF ATTENDANCE CALCULATION. ONCE THE AMOUNT HAS BEEN DETERMINED FOR THE INDIVIDUAL, IT IS THEN DISPERSED TO THE STUDENT'S ACCOUNT AND IS CONTROLLED BY THE BURSAR'S OFFICE. X X X X 1 1 X X X X 0 1 0 0 0 1 0 1 0 ANTHONY J CERNERA 302666 0 414240 0 26089 0 77888 0 6492 0 827375 0 0 0 THOMAS V FORGET PHD 185379 0 47521 0 4008 0 19008 0 4703 0 260619 0 0 0 MICHAEL J KINNEY 206311 0 52889 0 5585 0 21155 0 5243 0 291183 0 0 0 JAMES BARQUINERO 176718 0 45555 0 4102 0 14357 0 2745 0 243477 0 0 0 MARY P YOUNG 156492 0 42733 0 3447 0 16442 0 6301 0 225415 0 0 0 ROBERT M HARDY 142370 0 33668 0 3802 0 14179 0 1200 0 195219 0 0 0 JOHN J PETILLO 202576 0 0 0 1505 0 0 0 4424 0 208505 0 0 0 PHILIP J MCCABE 157131 0 0 0 2920 0 12730 0 2000 0 174781 0 0 0 PATRICIA W WALKER 141751 0 29001 0 5042 0 11600 0 3254 0 190648 0 0 0 CLAIRE J PAOLINI 140916 0 29053 0 587 0 11621 0 4347 0 186524 0 0 0 DAVID L COPPOLA 130922 0 29767 0 8807 0 10642 0 6420 0 186558 0 0 0 Part I, Line 1a FIRST CLASS TRAVEL IS LIMITED AND ONLY ALLOWABLE BY SPECIFIC APPROVAL FROM THE PRESIDENT OF THE UNIVERSITY. CERTAIN EMPLOYEE BENEFITS ARE GROSSED UP FOR TAXES. THESE BENEFITS ARE DICTATED BY CONTRACT. THE UNIVERSITY FUNDS COUNTRY CLUB MEMBERSHIPS IN THE NAME OF TWO OFFICERS. THE COUNTRY CLUB MEMBERSHIP IS USED FOR UNIVERSITY EVENTS AND THE ENTERTAINMENT OF PERSPECTIVE DONORS AND CONTRIBUTORS. Part I, Line 1b Part I, Line 4a THE UNIVERSITY PRESIDENT PARTICIPATES IN A 457(F) NONQUALIFIED PLAN. HE WAS AWARDED $50,000 DURING THE YEAR. Part I, Line 5 Part I, Line 6 BONUSES ARE PAID TO THE CABINET MEMBERS BASED ON ACHIEVING THE TRANSFER TO THE TRUSTEE RESERVES (I.E. PROFITABILITY). THE CABINET HAS PERFOMRANCE MEASURES FOR MANAGING THE UNIVERSITY TO MAINTAIN A BALANCED BUDGET. Part I, Line 7 THERE ARE QUANTITATIVE MEASURES THAT ARE APPLIED IN DETERMINING BONUSES TO CABINET MEMBERS. THE PRESIDENT AND THE BOARD HAVE DISCRETION TO ADJUST THE PAYMENTS FOR UNUSUAL CIRCUMSTANCES. IN ALL CASES, THESE PAYMENTS ARE REVIEWED WITH AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. Part I, Line 8 Supplemental Information Part III SCHEDULE J, PART I, LINE 3 - COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. SACRED HEART UNIVERSITY - SERIES F 060776644 20774LD93 2003-12-11 21700000 RESIDENTIAL HOUSING 0 0 21700000 361713 157224 607186 20935590 2005 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 SCHINE JULIANELLE & ANTONUCCI PC OWNER - ROBERT JULIANELLE, SECRETARY/TRUSTEE 302100 LEGAL SERVICES 0 ANTHONY CERNERA SON OF UNIVERSITY PRESIDENT, ANTHONY J. CERNERA 66867 EMPLOYEE 0 X 4 2900 APPRAISAL X 926 FMV X 13 193065 FMV X FOOD 19 13001 FMV X RAFFLE GIFTS 64 17623 FMV X OTHER SUNDRY 6 2447 FMV 0 0 0 0 Form 990, Part VI, Section B, line 11 THE FOLLOWING IS THE SUCCESSION OF THE REVIEWS THAT OCCUR PRIOR TO FILING FORM 990. REVISIONS TO THE RETURN MAY BE MADE AT ANY POINT PRIOR TO FINAL FILING OF THE RETURN: THE RETURN IS PREPARED BY AN OUTSIDE PREPARER WITH THE ASSISTANCE OF THE ACCOUNTING STAFF. THE RETURN IS THEN INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES OF THE RETURN ARE PROVIDED TO THE PRESIDENT, EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. Form 990, Part VI, Section B, line 12c EVERY YEAR, THE CONFLICT OF INTEREST POLICY IS REVIEWED. ALL KEY EMPLOYEES, TRUSTEES AND OFFICERS OF THE UNIVERSITY ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS AS APPROPRIATE, SIGN, AND SUBMIT THE FORMS TO THEIR MANAGER OR BOARD SECRETARY FOR REVIEW AND SIGNATURE. Form 990, Part VI, Section B, line 15 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. Form 990, Part VI, Section C, line 19 THE UNIVERSITY USES GUIDESTAR.ORG TO POST ITS 990 ANNUALLY. THIS MAKES THE 990 WIDELY AVAILABLE THROUGH THE INTERNET. COPIES ARE ALSO MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. GOVERNING DOCUMENTS AND THE ANNUAL FINANCIAL REPORT ARE MADE AVAILABLE TO BOARD MEMBERS AND IN COMPLIANCE WITH DEBT COVENANTS. UNIVERSITY EMPLOYEE AND FACULTY HANDBOOKS ARE POSTED ON THE UNIVERSITY WEBSITE. IN ADDITION, ALL STAFF AND FACULTY RECEIVE A HARD COPY. THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ONLY TO KEY EMPLOYEES, DIRECTORS, AND OFFICERS OF THE UNIVERSITY TO SIGN AND RETURN. SCHEDULE L, PART IV: ROBERT L. JULIANELLE SERVES AS A TRUSTEE, SECRETARY OF THE BOARD OF TRUSTEES AND THE CORPORATION AND AS GENERAL COUNSEL. LEGAL SERVICES, PROVIDED AT PREVAILING RATES LESS A DISCOUNT, ARE PERFORMED BY MR. JULIANELLE THROUGH THE LAW FIRM OF SCHINE, JULIANELLE, & ANTONUCCI, P.C. MR. JULIANELLE IS THE SUBSTANTIAL PRINCIPAL OF THE LAW FIRM. MOST LEAGAL SERVICES ARE PERFORMED BY MR. JULIANELLE, SOME BY OTHER MEMBERS OF THE LAW FIRM. AS GENERAL COUNSEL, MR. JULIANELLE PROVIDES LEGAL ADVICE, CONSULTATION AND SERVICES PERTAINING TO ALL ASPECTS OF THE UNIVERSITY, INCLUDING, BUT NOT LIMITED TO, CONTRACTS, REAL ESTATE, LEASES, EMPLOYMENT ISSUES, FACULTY ISSUES, AND THE OVERSIGHT OF LITIGATION. SPECIALIZED LEGAL COUNSEL IS RETAINED FOR LITIGATION, TAX AND PENSION, LABOR AND INTELLECTUAL PROPERTY MATTERS, AND OTHER MATTERS WHICH APPROPRIATELY REQUIRE SUCH REPRESENTATION. AN ANNUAL CONFLICT OF INTEREST FORM IS FILED BY MR. JULIANELLE TO THE AUDIT COMMITTEE IN ACCORDANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. AN ANNUAL REPORT OF FEES IS FURNISHED TO THE AUDIT COMMITTEE. THERE ARE NO CHARGES FOR ACTING AS SECRETARY OR AS TRUSTEE.