2011-05-13T13:51:27-05:00 2010-06-30 ParenteBeard LLC 46 Public Square Suite 400 WilkesBarre PA 18701 990 2009-07-01 240795406 MISERICORDIA UNIVERSITY MISE 5706746400 301 LAKE STREET DALLAS PA 186121090 John Risboskin 5706746400 2011-05-12 1 Julius Green 5708200100 2009 2016-02-24 21:20:13Z MICHAEL A MACDOWELL 301 LAKE STREET DALLAS PA 186121090 73419361 0 0928 X WWW.MISERICORDIA.EDU X 1924 PA HIGHER EDUCATION SERVICES 32 31 1406 0 216356 -40341 6131982 7734736 52755258 56885686 -2224580 654699 713209 739638 57375869 66014759 13663700 14904352 0 24310724 26145419 0 1130866 15932600 17092210 53907024 58141981 3468845 7872778 89862604 98379247 34421356 34426131 55441248 63953116 Misericordia University, a Co-educational catholic university sponsored by the institute of the sisters of mercy of the Americas, is committed to providing quality education to its students and to shaping its educational programs and policies to express the founding sisters' values and attitudes of mercy, service, justice, and hospitality. The University welcomes individuals of all faiths. 0 0 50026537 14904352 58108240 Misericordia University is a Catholic, liberal arts-based, co-educational university founded in 1924, and it is sponsored by the Religious Sisters of Mercy. The University offers undergraduate and graduate programs to resident and commuter students who can choose from majors in three distinct Academic Colleges. The College of Arts and Sciences offers major degree programs in biochemistry, biology, chemistry, clinical laboratory science, communications, computer science, English, history, interdisciplinary studies, mathematics, and philosophy, as well as a number of minor degree programs. Certification programs include secondary education (biology, chemistry, English, history, mathematics) and Spanish. Specializations in pre-dentistry, pre-law, pre-medicine, pre-optometry, and pre-veterinary medicine are also available.The College of Health Sciences offers major degree programs in health science, nursing, medical imaging, occupational therapy, physical therapy, and speech-language pathology, as well as a number of minor degree programs. Certification programs are available in diagnostic medical sonography, nursing education, family nurse practitioner, health care informatics, pediatrics, and teacher certification in speech and language disabilities. Specializations include management, nursing administration, and nursing education. The College of Health Sciences offers entry level professional master of science degrees in Occupational Therapy, Physical Therapy, and Speech-Language Pathology; a post-professional master of science degree in Nursing and Occupational Therapy and a Post-Professional Doctor of Physical Therapy Degree. The College of Professional Studies and Social Sciences offers major degree programs in accounting, business administration, education, elementary education, health care management, information technology, management, marketing, professional studies, psychology, social work, special education, sports management, and organizational management, along with a number of minor degree programs. Certification programs include addictions counseling, child welfare services, early childhood education, elementary education, gerontology, health care informatics, health care management, secondary education, special education, and teaching English as a second language. Specializations in addictions counseling, child welfare services, educational strategies, elementary education, gerontology, health care informatics, health care management, health care marketing, human resource management, information technology management, instructional technology, IT security, management, management information systems, marketing, selected sequence, and supervision of instruction and curriculum. The College of Professional Studies and Social Sciences offers master of science degrees in organizational management, business administration, education, and educational technology.The University is regionally accredited by the Middle States Commission on Higher Education. Other accrediting agencies recognizing the University include the Accreditation Council for Occupational Therapy Education, Commission on Accreditation in Physical Therapy Education, Commission on Accreditation of Allied Health Education Programs, Commission on College Nursing Education, Council on Social Work Education, International Assembly for Collegiate Business Education, Pennsylvania Department of Education, and The Joint Review Committee on Education in Radiologic Technology.The total headcount for Fall 2009 included 2,736 students. 50026537 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 78 0 1 1406 1 1 1 0 0 0 0 0 0 0 0 32 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X CONTROLLER 5706746400 301 LAKE STREET DALLAS PA 18612 MICHAEL AMORY 0.20 X 0 0 0 MSGR JOHN J BENDICK 0.20 X 0 0 0 CHRISTOPHER L BORTON 0.20 X 0 0 0 JONATHAN BRASSINGTON 0.20 X 0 0 0 DR RUTH A CONNOLLY 0.20 X 0 0 0 ANDREW CORNELL 0.20 X 0 0 0 SCOTT DAGENAIS 0.20 X 0 0 0 DR MARY ANN DILLON RSM 0.20 X 0 0 0 PATRICIA FINAN-CASTELLANO 0.20 X 0 0 0 Harold FLACK 0.20 X 0 0 0 DR MARTHA HANLON RSM 0.20 X 0 0 0 JAMES D HARKINS 0.20 X 0 0 0 GEORGE HUNTZINGER 0.20 X 0 0 0 SANDY INSALACO SR 0.20 X 0 0 0 KRISTOPHER JONES 0.20 X 0 0 0 WILLIAM H KENT 0.20 X 0 0 0 SCOTT LYNETT 0.20 X 0 0 0 Sherry A Manetta 0.20 X 0 0 0 CATHERINE MCGROARTY RSM 0.20 X 0 0 0 JOHN C METZ 0.20 X 0 0 0 DANIEL MEUSER 0.20 X 0 0 0 JOHN T QUEENAN MD 0.20 X 0 0 0 Dr Carol Rittner RSM 0.20 X 0 0 0 PAUL SIEGEL 0.20 X 0 0 0 ROSEMARY SIGMOND 0.20 X 0 0 0 DR DEBORAH SMITH-MILESKI 0.20 X 0 0 0 ROBERT J SOPER 0.20 X 0 0 0 Mary Beth McNamara Sullivan 0.20 X 0 0 0 Sr Mayon Slyvain 0.20 X 0 0 0 MURRAY UFBERG ESQ 0.20 X 0 0 0 WILLIAM C WILLIAMS 0.20 X 0 0 0 CAROL FAHNESTOCK 40.00 X 38649 0 6033 MARI KING 40.00 X 138352 0 15811 JOHN RISBOSKIN 40.00 X X 152925 0 19301 DR MICHAEL MACDOWELL 40.00 X X 270891 0 37064 SUSAN HELWIG 40.00 X 126862 0 18460 Fred Croop 40.00 X 128057 0 16868 Thomas O'Neill 40.00 X 0 0 0 jean dyer 40.00 X 115400 0 12526 jOHN SUMANSKY 40.00 X 114704 0 13896 1085840 0 139959 7 0 1 0 sordoni construction services 45 owen street forty fort PA 18704 GENERAL CONSTRUCTION CONTRACTOR 6298785 METZ & ASSOCIATES LTD 2 WOODLAWN DRIVE DALLAS PA 18612 FOOD SERVICE 2173038 VISTACOM 1902 VULTEE ST ALLENTOWN PA 18103 AUDIO/VISUAL CONTRACTOR 479530 pOWER ENGINEERING CORP 901 JUMPER RD WILKESBARRE PA 18703 HVAC CONSTRUCTION CONTRACTOR 390849 TJ CANNON INC 1000 OAK ST PITTSTON PA 18640 ELECTRICAL CONSTRUCTION CONTRACTOR 384431 5 5435958 2298778 387608 7734736 STUDENT TUITION & FEES 611600 47647747 47647747 ROOM & BOARD 721310 8041188 8041188 BOOKSTORE 451211 1076509 1076509 NON-CREDITED PROGRMMNG 611600 69750 69750 STUDENT LOAN INT INC 523000 34482 34482 16010 16010 56885686 545348 545348 7513953 7404602 109351 109351 109351 SUMMER CAMPS/CONFRNCES 611710 503208 311616 191592 STUDENT PARKING/FINES 812930 35110 35110 INSURANCE CLAIMS 525100 29014 29014 172306 147542 24764 739638 66014759 57379954 216356 683713 14904352 14904352 515535 515535 19848282 17162656 2176100 509526 1205490 1037764 136780 30946 3074506 2616392 379188 78926 1501606 1264580 198478 38548 112556 112556 69350 69350 149787 149787 1630926 1020304 588543 22079 454461 208566 245895 3067556 2404116 559233 104207 704640 184525 520115 2436326 2335251 101075 768269 643324 105779 19166 205216 185196 15745 4275 903688 903688 2949243 2826889 122354 277111 277111 BOOKSTORE 795195 795195 INTEREST RATE SWAP 337074 321939 15135 MEMBERSHIPS 220770 100005 114761 6004 FINANCING FEES 142684 136280 6404 Student Testing Fees 90147 90147 1777211 608257 851765 317189 58141981 50026537 6984578 1130866 91404 3019770 416670 5047489 7734920 1417485 1624373 329525 410355 77245 191752 99726815 33761426 58942648 65965389 15762005 17108021 2124973 2134629 3050060 2793138 89862604 98379247 3207732 3247783 1272473 1329114 26024097 17994231 402214 331222 580783 8308518 2934057 3215263 34421356 34426131 X 30440309 38105277 15001523 15163822 9999416 10684017 55441248 63953116 89862604 98379247 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1045405 X 0 16932853 1518310 1690772 308187 143804 19689944 17675644 2261412 -2586034 296964 121205 16932853 0.39000 0.50000 0.11000 1 0 2875855 2875855 74187415 19396786 54790629 15747512 11882460 3865052 6916033 2482180 4433853 65965389 STUDENT DEPOSITS & ADVANCES 330052 ANNUITIES PAYABLE 108648 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1527574 ASSET RETIREMENT OBLIGATIONS 45074 ACCRUED PENSION COST 947340 INTEREST RATE SWAP 256575 3215263 66014759 58141981 7872778 992525 -353435 639090 8511868 52670249 992525 -353435 639090 52031159 149787 13833813 13983600 66014759 44158381 0 44158381 149787 13833813 13983600 58141981 Part III, Line 4: Part III, line 4: The University maintains a collection of paintings utilized in the decor of various University buildings, including its art gallery. The University's art gallery and collection is an integral part of the fine arts curriculum. Part V, Line 4: Description of Intended Use of Endowment Funds: Part V, line 4: Annual earnings from the University's endowment are used for the following purposes: 1. Preservation of the endowment principal to provide continued earnings. 2. Use a pre-determined endowment spending rate to increase funds available for use in awarding annual scholarships. 3. Fund a spending reserve to be used in years when annual earnings cannot support the preservation of endowment principal and the endowment spending rate. Part X: Description of Uncertain Tax Positions Under FIN 48: The University is tax-exempt as a not-for-profit organization under Section 501(c)(3) of the Internal Revenue Code. The University accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. The University's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The University's federal Exempt Organization Business Income Tax Returns for 2008, 2007, and 2006 remain subject to examination by the IRS. Part XI, Line 8 - Other Adjustments: CHANGE IN SPLIT-INTEREST AGREEMENTS: 206594. Net unrealized loss on interest rate swaps: -490952. MINIMUM PENSION LIABILITY ADJUSTMENT: -69077. Part XII, Line 2d - Other Adjustments: CHANGE IN SPLIT-INTEREST AGREEMENTS: 206594. NET UNREALIZED LOSS ON INTEREST RATE SWAPS: -490952. MINIMUM PENSION LIABILITY ADJUSTMENT: -69077. Part XII, Line 4b - Other Adjustments: student scholarships: 13833813. Part XIII, Line 4b - Other Adjustments: STUDENT SCHOLARSHIPS: 13833813. 1 STUDENT ACADEMIC SCHOLARSHIPS 2338 14904352 FMV N/A Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The University provides its students with various scholarships that are awarded based on various criteria. Each students' eligibility is verified prior to awarding a scholarship. The University awards the grant directly to outstanding balances to ensure the proper use of awarded funds. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MARI KING 138352 0 0 0 0 0 10798 0 5013 0 154163 0 0 0 JOHN RISBOSKIN 143921 0 0 0 9004 0 11151 0 8150 0 172226 0 0 0 DR MICHAEL MACDOWELL 211391 0 59500 0 0 0 14914 0 22150 0 307955 0 0 0 Part I, Line 1a Part I, Line 1a: The University furnishes the President with housing for him and his spouse within a home owned by the University. The President and his spouse will reside in the home throughout his term. The University pays dues for memberships in such professional and community associations and organizations, and for attendance by the President at conferences and meetings, as deemed appropriate for the President's implementation of the duties of his office. The University is responsible for paying the cost of all utilities and reasonable expenses, excluding personal telephone charges, including maintenance of and renovations to the President's residence and grounds. THE GENERAL MUNICIPAL AUTHORITY OF THE BOROUGH OF HARVEYS LAKE 231920749 417846AA0 2008-12-18 21360000 PARTIAL REFUNDING OF PRIOR BOND ISSUE, FINANCE CAP PROJECTS, PAY ISS COSTS 0 1 21377145 3345522 331438 17700185 2009 0 1 1 1 0 0 1 0 1 0.00000 0.00000 0.00000 1 0 1 1 PNC BANK 26.400000000000 0 1 1 METZ & ASSOCIATES X 650000 331222 0 0 1 331222 JOHN C METZ BOARD MEMBER 2173038 FOOD SERVICE FOR THE UNIVERSITY IS PROVIDED BY METZ & ASSOCIATES, LTD. JOHN C. METZ IS THE CHAIRMAN AND CEO OF METZ & ASSOCIATES, LTD and also serves as a board member for the University. THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY AND ALL TRANSACTIONS WITH METZ & ASSOCIATES, LTD WERE CONDUCTED AT ARM'S LENGTH. 0 James Harkins Board Member 105000 Rent payments associated with use of off campus property as resident student housing for the 2009-2010 academic year. 0 X 2 200239 FMV X 10 187369 FMV 0 0 0 Form 990, Part VI, Section A, line 2 The following relationships were disclosed among Board Members: Jonathan Brassington and George Huntzinger have a business relationship. Harold Flack and George Huntzinger have a business relationship. Harold Flack and Paul Siegel have a business relationship. Kristopher Jones and Robert Soper have a business relationship. Robert Soper and Michael Amory have a business relationship. Robert Soper and John Metz have a business relationship. Form 990, Part VI, Section B, line 11 The University's Audit Committee is a standing committee of the Board of Trustees. As outlined in the Audit Committee Charter, one of the Audit Committee's responsibilities is to annually review and approve Federal Form 990 and Form 990-T prior to filing. Copies of Forms 990 and 990-T are provided to the full Board of Trustees prior to the filing due date. Form 990, Part VI, Section B, line 12c The University maintains a written conflict of interest policy covering all members of the Board of Trustees, institutional officers, faculty and employees of the University. A Disclosure and Conflict of Interest Form details information regarding substantive, competing, business and familial relationships that may represent a conflict of interest. Any such relationships including possible substantial benefits are detailed on the Disclosure and Conflict of Interest Form. Members of the Board of Trustees are required to complete a new Disclosure and Conflict of Interest Form annually. The forms are reviewed by the Secretary of the Board of Trustees and any potential conflicts are reviewed with the President and the Human Resources Department as considered necessary. Form 990, Part VI, Section B, line 15 The University's Executive Committee, which also serves as the Compensation Committee, periodically engages an independent consulting firm to assist in determining executive compensation within a pre-determined compensation philosophy. The firm's review is based upon market evaluation of items including the University's peer institutions' statistics, compensation and benefits in compliance with appropriate provisions of the Internal Revenue Codes. Form 990, Part VI, Section C, line 19 Although the University does not make its governing documents, conflict of interest policy, and financial statements routinely available to the public, the documents are available upon request. The University's Conflict of Interest Policy is included in the Human Resources Policies and Procedures Manual available on the University's website. The University proactively submits its financial statements to the National Association of College and University Business Officers (NACUBO) website. In addition, the financial statements are available upon request. FORM 990, PART XI, LINE 2C: THE PROCESSES USED BY THE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAVE NOT CHANGED FROM THE PRIOR YEAR.