2026-05-13T13:54:17-05:00 2025-06-30 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2024-07-01 520591672 MOUNT SAINT MARY'S UNIVERSITY INC MOUN 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 WILLIAM E DAVIES VP BUSINESS AND FINANCE 3014476122 2026-05-13 1 1 KRISTEN BARNETT P01234578 8133162300 2026-05-13 2024 2025-03-06 01:10:19Z GERARD J JOYCE 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 156757596 0 X WWW.MSMARY.EDU X 1808 MD MOUNT ST. MARY'S UNIVERSITY, THE SECOND OLDEST CATHOLIC UNIVERSITY IN THE U.S., (SEE SCHEDULE O), OFFERS MORE THAN 60 ACADEMIC MAJORS, MINORS, AND CONCENTRATIONS. GRADUATE PROGRAMS IN BUSINESS, EDUCATION, PHILOSOPHY, THEOLOGY AND DIVINITY ARE ALSO OFFERED ALONG WITH ACCELERATED UNDERGRADUATE PROGRAMS IN BUSINESS AND CRIMINAL JUSTICE. STUDENTS PARTICIPATE IN MORE THAN 70 CLUBS AND HONOR SOCIETIES. STUDENTS ALSO TAKE ADVANTAGE OF THE COMMUNITY SERVICE AND OUTDOOR ADVENTURE PROGRAMS THAT ARE OFFERED BOTH LOCALLY AND ABROAD. IN ADDITION, THE UNIVERSITY HAS 24 VARSITY SPORTS AT THE NCAA DIVISION 1 LEVEL. 28 28 1435 50 56950 0 22327978 22227042 108867990 110666350 10242648 10373024 23032 28050 141461648 143294466 53439333 54856991 0 0 43310387 46092474 136400 0 2135765 40083665 42712277 136969785 143661742 4491863 -367276 220523503 219701574 90036898 86012825 130486605 133688749 X AS A CATHOLIC UNIVERSITY, MOUNT ST. MARY'S GRADUATES ETHICAL LEADERS WHO ARE INSPIRED BY A PASSION FOR LEARNING AND LEAD LIVES OF SIGNIFICANCE IN SERVICE TO GOD AND OTHERS. 0 0 78813015 54856991 85633210 INSTRUCTIONAL PROGRAMS FOR 2,737 STUDENTS CONSISTING OF 2,020 UNDERGRADUATE STUDENTS, 197 GRADUATE STUDENTS IN BUSINESS ADMINISTRATION, 223 GRADUATE STUDENTS IN EDUCATION, 126 GRADUATE STUDENTS IN THEOLOGY, 19 GRADUATE STUDENTS IN HEALTH ADMINISTRATION, 43 GRADUATE STUDENTS IN BIOTECHNOLOGY AND MANAGEMENT, 35 GRADUATE STUDENTS IN SPORTS MANAGEMENT, 6 GRADUATE STUDENTS IN PHILOSOPHICAL STUDIES, 87 GRADUATE STUDENTS IN APPLIED BEHAVIOR ANALYSIS AND 17 NON-DEGREE SEEKING GRADUATE STUDENTS. THE UNIVERSITY AWARDED A TOTAL OF 634 DEGREES AND CERTIFICATES COMPRISED OF 386 BACHELOR'S DEGREES, 38 POST-BACCALAUREATE CERTIFICATES, 180 MASTER'S DEGREES, 26 THEOLOGY MASTER'S DEGREES AND 4 POST-MASTER'S CERTIFICATES. 29101729 24976190 AUXILIARY ENTERPRISES WHICH IS COMPRISED OF ATHLETICS, STUDENT HOUSING, DINING SERVICES, POST OFFICE, VENDING, PHYSICAL PLANT, LAUNDRY AND PUBLIC SAFETY. 10457239 STUDENT SERVICES FOR THE ENTIRE STUDENT BODY. THIS INCLUDES COUNSELING /HEALTH CENTER, STUDENT AFFAIRS AND STUDENT ACTIVITIES. 6692938 ACADEMIC SUPPORT 4702650 INSTITUTIONAL SUPPORT 11395588 129767571 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 251 0 1 1435 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X WILLIAM E DAVIES 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 RICHARD P MILLER CHAIR OF THE BOARD 15.00 X X 0 0 0 PAUL J CHEW VICE CHAIR OF THE BOARD 10.00 X X 0 0 0 DAVID M DILUIGI TREASURER 10.00 X X 0 0 0 HOUEIDA SAAD SECRETARY 10.00 X X 0 0 0 KOKI ADASI TRUSTEE 5.00 X 0 0 0 THOMAS BECK TRUSTEE 5.00 X 0 0 0 FRANCIS BOLTE TRUSTEE 5.00 X 0 0 0 DEVEDA COLEY TRUSTEE 5.00 X 0 0 0 MEREDITH CORDISCO TRUSTEE 5.00 X 0 0 0 S ELLEN DAUWER TRUSTEE 5.00 X 0 0 0 ROBERT DEEGAN TRUSTEE 5.00 X 0 0 0 RAPHAEL DELLA RATTA TRUSTEE 5.00 X 0 0 0 SR MELANIE DI PIETRO TRUSTEE 5.00 X 0 0 0 JOSEPH DOWD TRUSTEE 5.00 X 0 0 0 JASON EPPS TRUSTEE 5.00 X 0 0 0 RICHARD FOLIO TRUSTEE 5.00 X 0 0 0 BISHOP JUAN ESPOSITO TRUSTEE 5.00 X 0 0 0 PATRICK GOLES TRUSTEE 5.00 X 0 0 0 THOMAS HARRINGTON TRUSTEE 5.00 X 0 0 0 ANTHONY HAYDEN TRUSTEE 5.00 X 0 0 0 MSGR RICK HILGARTNER TRUSTEE 5.00 X 0 0 0 SUZANNE HUESTON TRUSTEE 5.00 X 0 0 0 SUSAN JANOWIAK TRUSTEE 5.00 X 0 0 0 PRISCILLA LOCKE TRUSTEE 5.00 X 0 0 0 ARCHBISHOP WILLIAM LORI TRUSTEE 5.00 X 0 0 0 AISLING MACRUNNELS TRUSTEE 5.00 X 0 0 0 TAMIKA TREMAGLIO TRUSTEE 5.00 X 0 0 0 NADJA WEST TRUSTEE 5.00 X 0 0 0 GERARD J JOYCE PRESIDENT 50.00 X 229385 0 55539 WILLIAM E DAVIES VP, BUSINESS & FINANCE 50.00 X 291012 0 56143 PATRICIA HILL-CALLAHAN VP, ADVANCEMENT 50.00 X 248634 0 50283 BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 50.00 X 228408 0 32209 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 50.00 X 226085 0 22713 JACK J CHIELLI VP, COMM & ENROLL MGT (THRU 1/1/25) 50.00 X 227396 0 52751 LAURA MCCULLOUGH ASSISTANT VP, ADVANCEMENT 50.00 X 164208 0 35618 ANDREW R BAKER SEMINARY RECTOR (THRU 06/16/25) 50.00 X 125513 0 17231 JOSHUA BONNER ASSISTANT VP & CMO 50.00 X 119381 0 13485 DAVID KING ASSISTANT VP & CTO 50.00 X 125283 0 7809 ELIZABETH C MONAHAN VP, UNIVERSITY AFFAIRS 50.00 X 116789 0 54555 CHRISTINE MCCAUSLIN DEAN OF THE SCHOOL OF SCIENCE 50.00 X 178577 0 17624 BRADLEY DAVIS DIRECTOR OF ATHLETICS 50.00 X 176576 0 58354 CORINNE FARNETI DEAN, BOLTE SCHOOL OF BUSINESS 50.00 X 171016 0 26102 DONALD S LIND HEAD MEN'S BASKETBALL COACH 50.00 X 205410 0 43171 KRISTIN HURLEY CHIEF HUMAN RESOURCES OFFICER 50.00 X 167356 0 10569 LOVE SECHREST ASSOCIATE PROVOST, ACADEMIC AFFAIRS 50.00 X 160841 0 25699 JENNIFER STRAIGER ASSOC PROVOST, GRADUATE PROF & CONT EDU 50.00 X 155132 0 9705 TIMOTHY TRAINOR FORMER PRESIDENT 50.00 X 336779 0 37437 3653781 0 626997 44 1 1 0 ARAMARK RECEIVABLES LLC 27310 NETWORK PLACE CHICAGO IL 606731273 FOOD SERVICES 7377443 MORGAN-KELLER INC 70 THOMAS JOHNSON DRIVE FREDERICK MD 21702 CONSTRUCTION SERVICES 4165432 JEM GROUP LLC 214 SENATE AVE SUITE 302 CAMP HILL PA 17011 CONSTRUCTION SERVICES 3269162 EAB 2445 M ST NW WASHINGTON DC 20037 EDUCATION BUSINESS DEVELOPMENT CONSULT. 1209117 WOLF'S BUS LINES INC 200 OLD US ROUTE 15 YORK SPRINGS PA 17372 TRANSPORTATION SERVICES 702383 55 30652 6531373 15665017 1209537 22227042 TUITION & FEES 611310 85633210 85633210 AUXILIARY ENTERPRISE 611710 24997895 24976190 21705 OTHER SERVICES 221000 35245 35245 110666350 11211744 11211744 12542942 12546934 834728 -3992 -834728 -838720 -838720 88303 30652 78715 9588 9588 21215 2753 18462 18462 143294466 110609400 56950 10401074 54856991 54856991 3215054 877268 2193880 143906 33616839 31070527 1709827 836485 1387132 1314389 36321 36422 5310238 4717819 456087 136332 2563211 2236444 258864 67903 165947 165947 189925 189925 353088 353088 5132055 3926022 1031543 174490 759111 580720 152581 25810 1979984 1514688 397977 67319 1916527 1466143 385222 65162 2336672 2002528 254697 79447 3393195 2907968 369858 115369 307172 234987 61742 10443 2846875 2177859 572222 96794 8103524 7179722 883284 40518 900045 797440 98105 4500 DINING SERVICES 6941251 6941251 OTHER EXPENSE 6524053 4964805 1324383 234865 UNCOLLECTIBLES 862853 862853 143661742 129767571 11758406 2135765 11426 7306 36406535 22237713 1933023 5838214 3547946 4070145 395851 257621 196848 184443 2215316 1891872 242547835 136976084 102214495 105571751 41041154 45018235 23073766 25626855 9487143 8997419 220523503 219701574 11262837 8151800 9219582 9742420 56139713 54622806 13414766 13495799 90036898 86012825 X 50818100 55312565 79668505 78376184 130486605 133688749 220523503 219701574 X -367276 3292153 277267 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 6745 0 1 13343 20088 0 PART II-B, LINE 1: MSMU IS A MEMBER OF THE MARYLAND INDEPENDENT COLLEGE AND UNIVERSITY ASSOCIATION (MICUA). MICUA ALLOCATES A PORTION OF THE DUES ASSESSMENT TO NONDEDUCTIBLE LOBBYING AND POLITICAL EXPENDITURES. THIS REPRESENTS THE % OF DUES ALLOCATED TO THAT ACTIVITY. 747982 X 0 64288711 2768972 6979651 2584861 244161 71208312 61013510 749174 5335666 2567060 242578 64288712 59202444 769290 3870807 2592904 236127 61013510 64126845 2927792 -5228834 2402702 220657 59202444 54459144 612473 11562469 2280221 210105 64143760 0.24270 0.53110 0.22620 0 0 2890503 2890503 183140100 106200832 76939268 10506351 703042 9803309 43677908 29529525 14148383 2332973 542685 1790288 105571751 MULTI-STRATEGY HEDGE FUNDS 13185552 F LIFE INSURANCE CASH SURRENDER VALUE 272198 F VANGUARD INTL EQUITY INDEX FUND 12169105 F 25626855 ANNUITIES PAYABLE 538864 US GOVERNMENT ADVANCES FOR STUDENT LOANS 94987 DEPOSITS 103216 LEASE PAYABLE 297759 OTHER LIABILITIES 441066 NON-RECOURSE OBLIGATION 6148090 RIGHT-OF-USE LEASE PAYABLE 5871817 13495799 X 95150974 3292153 -44234713 -40942560 136093534 244161 6956771 7200932 143294466 92226097 3665507 3665507 88560590 244161 54856991 55101152 143661742 PART III, LINE 4: THE UNIVERSITY'S COLLECTION CONSISTS OF ITEMS ASSOCIATED WITH THE HISTORY OF THE UNIVERSITY AND IS MAINTAINED IN THE ARCHIVES. THERE ARE ALSO VARIOUS WORKS OF ART IN CHAPELS ACROSS CAMPUS. THIS COLLECTION PROMOTES OUR EDUCATIONAL PURPOSE BY PROVIDING HISTORICALLY SIGNIFICANT RESEARCH MATERIAL FOR STUDENTS AND PROFESSORS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT PROVIDES FUNDS TO SUPPORT STUDENT FINANCIAL AID, FACULTY SALARIES AND THE GENERAL OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARD ON 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. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2025 OR 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE -54,856,991. RELATED ENTITY REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 10,622,278. PART XI, LINE 4B - OTHER ADJUSTMENTS: EQUITY IN INCOME OF SUBSIDIARY 6,956,771. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 3,665,507. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE 54,856,991. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NON-DISCRIMINATION POLICY IS OPENLY REPORTED TO THE PUBLIC THROUGH THE UNIVERSITY'S WEBSITE, STUDENT CATALOGS, EMPLOYMENT POLICIES AND PROCEDURES AND THROUGH PUBLIC RELATIONS EFFORTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM FEDERAL AND STATE AGENCIES FOR STUDENT FINANCIAL AID AND OTHER PURPOSES. FUNDING SOURCES WERE US DEPARTMENT OF EDUCATION, FEDERAL EMERGENCY MANAGEMENT AGENCY, NATIONAL SCIENCE FOUNDATION, NATIONAL INSTITUTE OF HEALTH, STATE OF MARYLAND SELLINGER PROGRAM, MARYLAND CENTER FOR COMPUTING EDUCATION, MARYLAND DEPARTMENT OF COMMERCE AND MARYLAND DEPARTMENT OF EDUCATION. SOUTH AMERICA 0 1 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 16050 CENTRAL AMERICA AND THE CARIBBEAN 0 1 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 5048 MIDDLE EAST AND NORTH AFRICA 0 1 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 4508 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1850721 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 457808 0 3 0 0 0 3 2334135 0 2334135 0 0 0 0 0 0 X X X X X X X 1 RO WALKER COMPANY 11511 SKIPWITH LANE POTOMAC MD 20854 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 22100 -22100 HURON CONSULTING GROUP INC PO BOX 71223 CHICAGO IL 60694 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 110661 -110661 GG&A PO BOX 775324 CHICAGO IL 60677 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 18500 -18500 151261 -151261 AL AK AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC AZ BASEBALL - GOLF TOURNAMENT 33905 9000 24905 2375 D1 - GOLF TOURNAMENT 28506 16112 12395 185 6000 4066 5 56544 5541 51003 500 5130 45449 10772 4238 118955 30652 88303 500 7690 51449 10772 8304 78715 9588 21215 2450 221 82 1 1.00000 21215 2450 221 82 2753 18462 MD 1 0 0 0 1.00000 RACHEL SAINT-FIRMIN 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 0 RACHEL SAINT-FIRMIN 4080 SECURING GAMING LICENSES AND MANAGING GAMING EVENTS. X 0 1 STUDENT FINANCIAL AID 1866 54856991 BOOK VALUE ASSIST WITH COST OF TUITION, ROOM AND BOARD PART I, LINE 2: THE UNIVERSITY'S USE OF GRANT FUNDS IS TO PROVIDE FINANCIAL AID TO OUR STUDENTS. WE MONITOR THE USE OF THESE UNIVERSITY FUNDS IN ACCORDANCE WITH ESTABLISHED LEVELS OF AWARDS BASED ON A STUDENT'S MERIT CLASSIFICATION AND ON AN ANNUAL BUDGET. THE UNIVERSITY FOLLOWS ALL REGULATIONS RELATIVE TO THE AWARDING OF FINANCIAL ASSISTANCE WHICH IS MONITORED BY THE FINANCIAL AID OFFICE. X X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 TIMOTHY TRAINOR FORMER PRESIDENT 151007 0 0 0 185772 0 13813 0 23624 0 374216 0 160000 0 WILLIAM E DAVIES VP, BUSINESS & FINANCE 264268 0 0 0 26744 0 16362 0 39781 0 347155 0 0 0 PATRICIA HILL-CALLAHAN VP, ADVANCEMENT 246350 0 0 0 2284 0 14781 0 35502 0 298917 0 0 0 GERARD J JOYCE PRESIDENT 228095 0 0 0 1290 0 13350 0 42189 0 284924 0 0 0 JACK J CHIELLI VP, COMM & ENROLL MGT (THRU 1/1/25) 166216 0 0 0 61180 0 13198 0 39554 0 280148 0 0 0 BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 223194 0 0 0 5214 0 13771 0 18438 0 260617 0 0 0 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 222389 0 0 0 3696 0 12960 0 9753 0 248798 0 0 0 DONALD S LIND HEAD MEN'S BASKETBALL COACH 205410 0 0 0 0 0 11600 0 31571 0 248581 0 0 0 BRADLEY DAVIS DIRECTOR OF ATHLETICS 176576 0 0 0 0 0 11400 0 46954 0 234930 0 0 0 LAURA MCCULLOUGH ASSISTANT VP, ADVANCEMENT 164040 0 0 0 168 0 5100 0 30518 0 199826 0 0 0 CORINNE FARNETI DEAN, BOLTE SCHOOL OF BUSINESS 170848 0 0 0 168 0 10200 0 15901 0 197117 0 0 0 CHRISTINE MCCAUSLIN DEAN OF THE SCHOOL OF SCIENCE 176668 0 0 0 1909 0 0 0 17624 0 196201 0 0 0 LOVE SECHREST ASSOCIATE PROVOST, ACADEMIC AFFAIRS 159784 0 0 0 1057 0 9810 0 15889 0 186540 0 0 0 KRISTIN HURLEY CHIEF HUMAN RESOURCES OFFICER 166335 0 0 0 1021 0 10200 0 368 0 177924 0 0 0 ELIZABETH C MONAHAN VP, UNIVERSITY AFFAIRS 116037 0 0 0 752 0 7500 0 47055 0 171344 0 0 0 JENNIFER STRAIGER ASSOC PROVOST, GRADUATE PROF & CONT 154351 0 0 0 781 0 9393 0 342 0 164867 0 0 0 PART I, LINE 1A IT IS THE UNIVERSITY'S POLICY TO REIMBURSE EMPLOYEES FOR BUSINESS EXPENSES INCURRED BY THE EMPLOYEE TO FURTHER THE MISSION OF THE UNIVERSITY. INFREQUENTLY, IN ACCORDANCE WITH IRS GUIDELINES, THE UNIVERSITY MAY REIMBURSE AN EMPLOYEE FOR THE COST OF A SPOUSE WHO ATTENDS A FUNCTION HAVING A SIGNIFICANT ROLE OR IS INVOLVED WITH FUNDRAISING WHICH CONSTITUTES A BUSINESS PURPOSE. THESE AMOUNTS ARE TAXABLE AND PROPERLY REPORTED ON THE FORM W-2. THE UNIVERSITY HAD AN EMPLOYMENT CONTRACT WITH ITS FORMER PRESIDENT TIM TRAINOR. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT, EFFECTIVE THROUGH JULY 30, 2024, THE UNIVERSITY PROVIDES HOUSING FOR THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS ESTIMATED AT $21,030. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS PRESIDENT GERARD JOYCE. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT, EFFECTIVE JULY 1, 2024, THE UNIVERSITY PROVIDES HOUSING FOR THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS ESTIMATED AT $21,030. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS VICE PRESIDENT FOR ADVANCEMENT. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE UNIVERSITY PROVIDES HOUSING FOR THE VICE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS ESTIMATED AT $32,712. PART I, LINES 4A-B TIMOTHY TRAINOR RECEIVED A PAYMENT OF $160,000 FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN, WHICH IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). JACK CHIELLI RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $57,395 WHICH IS INCLUDED IN THE TOTAL AMOUNT ON SCHEDULE J PART II COLUMN B(III). A TOWN OF EMMITSBURG 526017142 2009-12-29 1250000 RENOVATIONS TO RESIDENCE HALL 0 0 0 B COUNTY COMMISSIONERS OF FREDERICK COUNTY 526000943 355697CG6 2017-12-21 59172319 DEBT REFINANCING 0 0 0 A 1000000 1250000 92516 1157484 2010 0 0 1 1 B 4640000 59172319 3822499 1146332 3007599 51195889 2019 1 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 0 A 1 B 1 SERIES 2017A BOND THE ISSUED PRICE OF THE BOND PER FORM 8038 WAS $59,172,319 AND THE STATED REDEMPTION OF THE BOND IS $54,590,000. THE DIFFERENCE BETWEEN THE TWO REPRESENTS NONREFUNDING PROCEEDS OF THE ISSUES IN THE AMOUNT OF $3,007,599. X 100 382537 FMV X 1 827000 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE UNIVERSITY'S GOVERNING BODY BEFORE THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE OFFICE OF THE PRESIDENT. CONFLICTS WITH MEMBERS OF THE BOARD OF TRUSTEES ARE DISCLOSED AND DISTRIBUTED TO RELEVANT DEPARTMENTS ANNUALLY. TRANSACTIONS WITH THESE PARTIES ARE SEPARATELY REVIEWED. AN INDIVIDUAL OR TRUSTEE WITH A CONFLICT REMOVES THEMSELVES FOR THE DELIBERATIONS AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT PRESENTS A SELF-EVALUATION TO THE BOARD OF TRUSTEES BASED ON AGREED-UPON PERFORMANCE GOALS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEW SALARY AND BENEFIT COMPARISON DATA COMPILED FROM SEVERAL SOURCES FOR INSTITUTIONS OF SIMILAR SIZE AND SCOPE. THE FULL BOARD DISCUSSES THE PRESIDENT'S PERFORMANCE AND REVIEWS THE COMPARATIVE SALARY DATA. THE EXECUTIVE OFFICERS OF THE BOARD (CHAIR, VICE-CHAIR, TREASURER, & SECRETARY) MAKE THE FINAL DECISION ABOUT THE PRESIDENT'S SALARY AND DEFERRED COMPENSATION, IF APPLICABLE, WHICH IS COMMUNICATED TO THE FULL BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS AND THE MEETINGS ARE DOCUMENTED BY FORMAL MINUTES. FOR OTHER OFFICERS OR HIGHLY COMPENSATED EMPLOYEES, SURVEY DATA PROVIDED BY CUPA IS USED ALONG WITH COMPENSATION DATA FROM PEER ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 277,267. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MOUNT ST MARY'S SEMINARY 16300 OLD EMMITSBURG RD EMMITSBURG MD 21727 611936188 TO SUPPORT UNIV. AS WELL AS EDUC. & FORMN. OF SEMINARIANS FOR THE PRIESTHOOD MD 501(C)(3) LINE 1 MOUNT SAINT MARYS UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 MOUNT ST MARY'S SEMINARY L 63657 ALLOCATED MOUNT ST MARY'S SEMINARY N 1325797 ALLOCATED MOUNT ST MARY'S SEMINARY O 967951 ALLOCATED MOUNT ST MARY'S SEMINARY Q 1722711 ALLOCATED