2024-05-10T10:17:44-05:00 2023-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-07-01 111797182 MOLLOY UNIVERSITY MOLL 5163233000 1000 HEMPSTEAD AVENUE ROCKVILLE CENTRE NY 115701135 SUSAN D WILLIAMS VP FOR FINANCE & TREASURER 5163233000 2024-05-10 1 SUSAN WILLIAMS 999009999 0 SCOTT THOMPSETT P00741490 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X JAMES P LENTINI 1000 HEMPSTEAD AVENUE ROCKVILLE CENTRE NY 115701135 223725019 0 X WWW.MOLLOY.EDU X 1955 NY MOLLOY IS AN INDEPENDENT CATHOLIC UNIVERSITY ROOTED IN THE DOMINICAN TRADITION OF STUDY. 22 21 2239 100 670217 0 16613283 7326172 145957857 149925474 1211281 701030 1195914 1251950 164978335 159204626 38660410 36887691 0 0 84054593 86162534 0 0 1683820 41431745 43078584 164146748 166128809 831587 -6924183 260681891 254798458 134851103 131350550 125830788 123447908 X MOLLOY UNIVERSITY, AN INDEPENDENT CATHOLIC UNIVERSITY, ROOTED IN THE DOMINICAN TRADITION OF STUDY, SPIRITUALITY, SERVICE, AND COMMUNITY, IS COMMITTED TO ACADEMIC EXCELLENCE WITH RESPECT FOR EACH PERSON. THROUGH TRANSFORMATIVE EDUCATION, MOLLOY PROMOTES A LIFELONG SEARCH FOR TRUTH AND THE DEVELOPMENT OF ETHICAL LEADERSHIP. 0 0 137005860 36887691 149992336 SEE SCHEDULE OTHROUGH TRANSFORMATIVE EDUCATION, MOLLOY UNIVERSITY PROMOTES A LIFELONG SEARCH FOR TRUTH AND THE DEVELOPMENT OF ETHICAL LEADERSHIP. WITH 4,807 STUDENTS, THE UNIVERSITY OFFERS 109 UNDERGRADUATE DEGREES IN THE SCHOOLS OF ARTS AND SCIENCES, BUSINESS, EDUCATION AND HUMAN SERVICES AND NURSING AND HEALTH SCIENCES, AS WELL AS 67 MASTER'S DEGREES (INCLUDING ADVANCED CERTIFICATES) AND THREE DOCTORAL DEGREES.THE UNIVERSITY PROVIDES A STUDENT-CENTERED LEARNING EXPERIENCE, WHICH ENHANCES THE INTELLECTUAL, ETHICAL, SPIRITUAL AND SOCIAL DEVELOPMENT OF EVERY STUDENT, AND STRIVES TO ENHANCE THE QUALITY OF ITS ACADEMIC PROGRAMS, FACULTY, AND TEACHING LEARNING ENVIRONMENT. THE UNIVERSITY CONTINUES TO IDENTIFY, RECRUIT AND EDUCATE STUDENTS WHO DEMONSTRATE LEADERSHIP QUALITIES, UNDERSTAND THE NEED FOR CIVIC ENGAGEMENT AND ASPIRE TO SERVE THE COMMUNITY.LOCATED IN ROCKVILLE CENTRE, NEW YORK, THE UNIVERSITY IS A HIGHLY RANKED, COMPREHENSIVE, REGIONAL INSTITUTION OF HIGHER EDUCATION WITH OUTSTANDING FACULTY, STATE-OF-THE-ART TECHNOLOGY AND DISTINGUISHED ACADEMIC PROGRAMS. NOTABLY, THE UNIVERSITY WAS RECENTLY IDENTIFIED BY BOTH MONEY MAGAZINE AND THE WALL STREET JOURNAL FOR ITS SUCCESS IN PREPARING STUDENTS TO SUCCEED. MOLLOY'S NURSING PROGRAM IS AMONG THE LARGEST NURSING PROGRAMS IN THE NORTHEAST REGION AND ONE OF THE HIGHEST RANKED IN THE COUNTRY. 137005860 1 1 0 1 0 0 0 1 1 1 1 0 0 1 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 662 0 1 2239 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SUSAN D WILLIAMS 5163233000 1000 HEMPSTEAD AVENUE ROCKVILLE CENTRE NY 115701135 JAMES P LENTINI PRESIDENT 35.00 0.00 X X 544501 0 83565 JOHN P MCENTEE CHAIRPERSON 1.00 0.00 X X 0 0 0 SR MARGARET MCVETTY VICE CHAIRPERSON 1.00 0.00 X X 0 0 0 PHILLIPA G WOODRIFFE VICE CHAIRPERSON (THRU 05/2023) 1.00 0.00 X X 0 0 0 JOHN J BISHAR JR TRUSTEE 1.00 0.00 X 0 0 0 SAMMY CHU TRUSTEE 1.00 0.00 X 0 0 0 DONNA L DELLOMORE TRUSTEE (THRU 12/2022) 1.00 0.00 X 0 0 0 DIANE ESPOSITO TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN EVERS-WILLOX TRUSTEE 1.00 0.00 X 0 0 0 LAURA FARAHANI TRUSTEE 1.00 0.00 X 0 0 0 RAYMOND E FARRELL TRUSTEE (THRU 05/2023) 1.00 0.00 X 0 0 0 NICOLETTE FIORE-LOPEZ TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY H GREENFIELD TRUSTEE 1.00 0.00 X 0 0 0 DAVID M HAGAN TRUSTEE 1.00 0.00 X 0 0 0 DANIEL F HINES TRUSTEE 1.00 0.00 X 0 0 0 S ZAKI HOSSAIN TRUSTEE 1.00 0.00 X 0 0 0 SHARI JAMES-PIERRE TRUSTEE 1.00 0.00 X 0 0 0 SR ANNE-MARIE KIRMSE TRUSTEE 1.00 0.00 X 0 0 0 SR PATRICIA KOEHLER TRUSTEE 1.00 0.00 X 0 0 0 BRENDAN LAVELLE TRUSTEE (THRU 12/2022) 1.00 0.00 X 0 0 0 TIMOTHY MOONEY TRUSTEE 1.00 0.00 X 0 0 0 COREY MUIRHEAD TRUSTEE (AS OF 01/2023) 1.00 0.00 X 0 0 0 KENNETH J PRITCHARD TRUSTEE 1.00 0.00 X 0 0 0 SUSAN SANTORO TRUSTEE 1.00 0.00 X 0 0 0 SR KATHLEEN TUITE TRUSTEE 1.00 0.00 X 0 0 0 JOHN WESTERMAN TRUSTEE 1.00 0.00 X 0 0 0 SUSAN D WILLIAMS VICE PRESIDENT FINANCE & TREASURER 35.00 0.00 X 272419 0 18542 DIANE K FORNIERI CHIEF OF STAFF & SECRETARY 35.00 0.00 X 161917 0 54208 CHERYL MICHELLE PISKULICH PROVOST & VP ACADEMIC AFFAIRS 35.00 0.00 X 286110 0 37066 EDWARD J THOMPSON VICE PRESIDENT OFFICE OF ADVANCEMENT 35.00 0.00 X 258020 0 64500 JANINE BISCARI VICE PRESIDENT STUDENT AFFAIRS 35.00 0.00 X 218389 0 13172 LINDA ALBANESE VICE PRESIDENT ENROLLMENT MANAGEMENT 35.00 0.00 X 215316 0 13452 MICHAEL TORRES - VP OFFICE OF TECHNOLOGY (THRU 09/2022) 35.00 0.00 X 164766 0 45428 MARCIA GARDNER DEAN OF NURSING 35.00 0.00 X 229506 0 74549 GIOIA BALES DEAN OF BUSINESS 35.00 0.00 X 233990 0 58560 BARBARA T SCHMIDT - ASSOCIATE PROVOST ACADEMIC AFFAIRS 35.00 0.00 X 212215 0 36107 AUDREY COHAN - SR DEAN FOR RESEARCH & SCHOLARSHIP 35.00 0.00 X 204751 0 9229 JOHN CARPENTE PROFESSOR 35.00 0.00 X 201615 0 8037 3203515 0 516415 161 0 1 0 AUSTIN & WILLIAMS INC 80 ARKAY DRIVE STE 220 HAUPPAUGE NY 11788 MEDIA SERVICES 2449098 CUTLASS INDUSTRIAL INC 193 HORTON AVENUE LYNBROOK NY 11563 CONSTRUCTION/RENOVATION 1474180 LESSING'S FOOD SVC MGMT 3500 SUNRISE HWY STE 100 GREAT RIVER NY 11739 FOOD SERVICES 1392244 AXIS CONSTRUCTION CORP 125 LASER COURT HAUPPAUGE NY 11788 CONSTRUCTION/RENOVATION 1292896 ASSESSMENT TECH INSTITUTE INC 62277 COLLECTIONS CTR DR CHICAGO IL 60693 EDUCATIONAL SERVICES 918807 28 672847 2551381 4101944 23877 7326172 TUITION AND FEES 611310 144769522 144769522 STUDENT AUX. SERVICES 611710 5155952 5155952 149925474 2180725 2180725 4224 4224 274650 72587 202063 202063 96274 105789 62543547 64023242 -1479695 -1479695 -1479695 260780 672847 414140 -153360 -153360 119004 10424 108580 108580 THEATRE PERFORMANCES 711110 573943 573943 FORFEITED ENROLL. DEP. 900099 137892 137892 STDNT. THEATRE PERF. 711110 66862 66862 311746 311746 1090443 159204626 149992336 670217 1215901 11149 11149 36876542 36876542 2562461 2285023 237047 40391 62045852 55320282 5746417 979153 2287351 2039699 211597 36055 14169741 12635582 1310806 223353 5097129 4545262 471522 80345 698188 9000 689188 188097 188097 320163 320163 7066479 3096174 3965885 4420 3312532 335126 2968174 9232 1761534 1244938 457007 59589 3140227 885174 2254535 518 4721159 3272050 1446875 2234 1114314 1003302 104696 6316 1223480 748765 436294 38421 3985467 69594 3913353 2520 8252993 8252993 964570 8243 956327 BLDG. GROUNDS & MAINT. 1448339 1010582 435489 2268 STUDENT TESTING EXP. 877216 877216 BAD DEBT EXPENSES 872527 872527 MEMBERSHIPS 303825 151686 149336 2803 2827474 2327478 303794 196202 166128809 137005860 27439129 1683820 5754082 5240318 41831277 37478893 5513302 4492054 2369038 2688111 1823329 1769512 2461496 2686619 229595866 102049973 131491888 127545893 41712900 46097837 3213858 3577866 131250 78750 24379471 23142605 260681891 254798458 13146619 13080988 1563009 1667668 3679070 3748162 85658103 82894463 3109185 3348733 27695117 26610536 134851103 131350550 X 114774241 110029430 11056547 13418478 125830788 123447908 260681891 254798458 X -6924183 5285188 -743885 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 34 34 0 FORM 990, SCHEDULE C, PART II-B, LINE 1: MOLLOY UNIVERSITY IS A DUES PAYING MEMBER OF NACUBO, EACUBO, AND CICU; A PORTION OF ITS ANNUAL DUES ARE ATTRIBUTABLE TO LOBBYING AND ARE REPORTED IN SCHEDULE C, PART II-B, LINE 1(I). THE UNIVERSITY'S ALLOCATED PORTION OF MEMBERSHIP DUES ATTRIBUTABLE TO LOBBYING AMOUNTS TO LESS THAN $100. 319501 X 0 0 1 X 44564248 248294 4509506 66550 49255498 52552443 768892 -8543173 213914 44564248 43648437 732083 8374430 202507 52552443 40758565 554200 2518733 183061 43648437 38240438 323926 2376828 182627 40758565 0.82710 0.11810 0.05480 0 0 3273630 3273630 177132829 63065194 114067635 7280504 4123535 3156969 41697287 34861244 6836043 211616 211616 127545893 FUNDS HELD WITH TRUSTEE 4370341 RIGHT-OF-USE ASSETS 17821102 CASH SURRENDER VALUE OF DONATED LIFE INSURANCE POLICY 951162 23142605 BOND INTEREST PAYABLE 1950500 RIGHT-OF-USE LEASE LIABILITY 21790521 CONDITIONAL ASSET RETIREMENT OBLIGATION 2869515 26610536 X 127850135 5285188 -36816667 -31531479 159381614 320163 -497151 -176988 159204626 130233015 497151 497151 129735864 320163 36072782 36392945 166128809 PART III, LINE 4: THE UNIVERSITY MAINTAINS AN ARTWORK COLLECTION IN VARIOUS BUILDINGS FOR THE ENJOYMENT OF STUDENTS, EMPLOYEES, AND VISITORS TO ITS CAMPUS. PART IV, LINE 2B: MOLLOY UNIVERSITY HAD $3,348,733 IN STUDENT CREDIT BALANCES AT JUNE 30, 2023. THESE BALANCES REPRESENT POTENTIAL TUITION MONEY OWED TO STUDENTS DUE TO OVER-PAYMENT, FINANCIAL AID APPLIED TO THE STUDENT'S ACCOUNT OR PAYMENTS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT FUND IS INTENDED TO SUPPORT THE UNIVERSITY'S EDUCATIONAL MISSION. THE ENDOWMENT EARNINGS ARE USED TO FUND THE UNIVERSITY'S DAILY OPERATIONS, INCLUDING SCHOLARSHIPS, STUDENT PROGRAMS, AND OTHER CAMPUS ACTIVITIES. THE BOARD OF TRUSTEES, THROUGH ITS APPROVED INVESTMENT POLICY GUIDELINES, HAS INTERPRETED THE NEW YORK PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS (NYPMIFA) TO ALLOW THE UNIVERSITY TO SPEND BELOW THE HISTORICAL DOLLAR VALUE OF ITS ENDOWMENT UNLESS SPECIFIC DONORS HAVE STIPULATED TO THE CONTRARY. THE UNIVERSITY'S ENDOWMENT CONSISTS OF 124 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: THE UNIVERSITY FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE UNIVERSITY HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE UNIVERSITY HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: INSTITUTIONAL AID AND SCHOLARSHIPS -36,072,782. CONDITIONAL ASSET RETIREMENT OBLIGATION ADJUSTMENT -24,295. LOSS ON CONTINGENCY -719,590. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -414,140. GAMING EXPENSES -10,424. RENTAL EXPENSES -72,587. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 414,140. GAMING EXPENSES 10,424. RENTAL EXPENSES 72,587. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL AID AND SCHOLARSHIPS 36,072,782. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATION POLICIES ARE PUBLISHED IN CATALOGS AND PUBLICATIONS, AS WELL AS, ON THE UNIVERSITY WEBSITE. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE UNIVERSITY RECEIVES FEDERAL FUNDING MAINLY FROM THE UNITED STATES DEPARTMENT OF EDUCATION PRIMARILY THROUGH THE STUDENT FINANCIAL ASSISTANCE CLUSTER. IN ADDITION, THE UNIVERSITY RECEIVED FINANCIAL AID FROM THE FOLLOWING GOVERNMENTAL AGENCIES DURING FISCAL YEAR 2023: - NATIONAL SCIENCE FOUNDATION - NEW YORK STATE EDUCATION DEPARTMENT - NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY - NEW YORK STATE OFFICE OF HIGHER EDUCATION - NEW YORK STATE OFFICE OF STATE COMPTROLLER - U.S. DEPARTMENT OF JUSTICE CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3434196 0 0 0 0 0 0 3434196 0 3434196 1 0 1 0 1 0 PART III ACCOUNTING METHOD: GALA 395600 300800 94800 4391 27375 64329 5500 10548 GOLF OUTING 296450 224870 71580 17755 98452 9805 8202 2 241577 147177 94400 102810 18526 36050 10397 933627 672847 260780 22146 228637 92660 41550 29147 414140 -153360 119004 2819 7605 0 119004 2819 7605 10424 108580 NY 1 0 1 0 0.99000 0.01000 SUSAN D WILLIAMS 1000 HEMPSTEAD AVENUE ROCKVILLE CENTRE NY 11571 0 EDWARD THOMPSON 0 SEE SCHEDULE G, PART IV X 0 SCHEDULE G, PART III, COLUMN (C): THE UNIVERSITY DID NOT CONDUCT ANY FORMAL GAMING ACTIVITIES IN FISCAL YEAR 2023; ALL GAMING REVENUES REPORTED IN FORM 990 PART VIII, AND SCHEDULE G REPRESENT SMALL RAFFLES CONDUCTED BY STUDENT CLUBS ON CAMPUS. SCHEDULE G, PART III, LINE 16, DESCRIPTION OF SERVICES PROVIDED: THE UNIVERSITY DOES NOT EMPLOY A GAMING MANAGER. THE INDIVIDUAL LISTED IS THE VICE PRESIDENT FOR ADVANCEMENT AND IS RESPONSIBLE FOR THE FUNDRAISING COMPONENT OF REVENUES, ALONG WITH THE DIRECTOR OF ATHLETICS, WHO RAISES FUNDS FOR THE ATHLETIC DEPARTMENT. 1 INSTITUTIONAL AID AND SCHOLARSHIPS 3065 36461685 STIPENDS 142 383834 FACULTY RESEARCH GRANTS 22 31023 PART I, LINE 2: THE UNIVERSITY FOLLOWS FEDERAL, STATE AND INSTITUTIONAL POLICIES AND REGULATIONS TO MONITOR GRANTS AND FUNDS: 1) THE STUDENT APPLIES FOR THE GRANTS; 2) GRANTS ARE AWARDED FROM THE VARIOUS FUNDING SOURCES DEPENDING ON NEED AND/OR ACADEMIC STANDING; 3) THE STUDENT'S ELIGIBILITY IS VERIFIED THROUGH FEDERAL, STATE AND INSTITUTIONAL REQUIREMENTS, MATRICULATION, REGISTRATION, ATTENDANCE AND ACADEMIC PROGRESS; 4) GRANTS AND AWARDS ARE PROCESSED ONTO THE STUDENT'S ACCOUNT; 5) WHERE LOANS ARE INVOLVED, THE UNIVERSITY FOLLOWS UP WITH THE REGULATORY REQUIREMENTS AFTER GRADUATION. THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) IS AN INTEGRAL PART OF THIS PROCESS. X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 JAMES P LENTINI PRESIDENT 397308 0 50000 0 97193 0 20146 0 63419 0 628066 0 0 0 CHERYL MICHELLE PISKULICH PROVOST & VP ACADEMIC AFFAIRS 286110 0 0 0 0 0 16647 0 20419 0 323176 0 0 0 EDWARD J THOMPSON VICE PRESIDENT OFFICE OF ADVANCEMENT 254967 0 0 0 3053 0 0 0 64500 0 322520 0 0 0 MARCIA GARDNER DEAN OF NURSING 229506 0 0 0 0 0 15079 0 59470 0 304055 0 0 0 GIOIA BALES DEAN OF BUSINESS 233990 0 0 0 0 0 15137 0 43423 0 292550 0 0 0 SUSAN D WILLIAMS VICE PRESIDENT FINANCE & TREASURER 272419 0 0 0 0 0 17029 0 1513 0 290961 0 0 0 BARBARA T SCHMIDT - ASSOCIATE PROVOST ACADEMIC AFFAIRS 212215 0 0 0 0 0 13452 0 22655 0 248322 0 0 0 JANINE BISCARI VICE PRESIDENT STUDENT AFFAIRS 214489 0 0 0 3900 0 13172 0 0 0 231561 0 0 0 LINDA ALBANESE VICE PRESIDENT ENROLLMENT MANAGEMENT 213544 0 0 0 1772 0 13452 0 0 0 228768 0 0 0 DIANE K FORNIERI CHIEF OF STAFF & SECRETARY 161917 0 0 0 0 0 10785 0 43423 0 216125 0 0 0 AUDREY COHAN - SR DEAN FOR RESEARCH & SCHOLARSHIP 204751 0 0 0 0 0 9229 0 0 0 213980 0 0 0 MICHAEL TORRES - VP OFFICE OF TECHNOLOGY (THRU 09/2022) 164766 0 0 0 0 0 0 0 45428 0 210194 0 0 0 JOHN CARPENTE PROFESSOR 201615 0 0 0 0 0 8037 0 0 0 209652 0 0 0 PART I, LINE 1A THE UNIVERSITY'S PRESIDENT, JAMES P. LENTINI, IS PROVIDED CERTAIN PREREQUISITES BY VIRTUE OF HIS POSITION AT THE UNIVERSITY. BY CONTRACT, THE PRESIDENT IS ENTITLED TO USE OF A RESIDENCE, A CAR ALLOWANCE AND REIMBURSEMENT FOR SOCIAL CLUB DUES. THE USE OF RESIDENCE IS TREATED AS A TAXABLE FRINGE BENEFIT (REPORTABLE IN FORM 990, SCHEDULE J, PART II, COLUMN (B)(III)). BOTH THE PRESIDENT, JAMES P. LENTINI, AND VICE PRESIDENT FOR ADVANCEMENT, EDWARD J. THOMPSON, ARE REIMBURSED FOR SOCIAL CLUB DUES. SINCE THE SOCIAL CLUB IS USED BY BOTH SOLELY IN A BUSINESS CAPACITY, THIS CONSTITUTES A NON-TAXABLE FRINGE BENEFIT AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). FINALLY, THE VICE PRESIDENT FOR ADVANCEMENT IS ENTITLED TO A CAR ALLOWANCE; THE PERSONAL USE OF THE CAR IS A TAXABLE FRINGE BENEFIT AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 7 PRESIDENT, JAMES P. LENTINI, RECEIVED A $50,000 BONUS IN CALENDAR YEAR 2022, AUTHORIZED AT THE DISCRETION OF THE BOARD FOR MEETING CERTAIN OBJECTIVE PERFORMANCE-BASED CRITERIA. THE PRESIDENT'S FULL COMPENSATION PACKAGE, INCLUSIVE OF ANY BONUSES RECEIVED, AS WELL AS THE AFOREMENTIONED FRINGE BENEFITS, IS APPROVED BY THE BOARD OF TRUSTEES TO ENSURE THAT IT ALIGNS WITH COMPENSATION PAID TO SIMILARLY SITUATED INDIVIDUALS AT EDUCATIONAL INSTITUTIONS IN THE SAME GEOGRAPHICAL REGION. ALL COMPENSATION DECISIONS APPROVED BY THE BOARD ARE MEMORIALIZED IN COMMITTEE MEETING MINUTES. A TOWN OF HEMPSTEAD LOCAL DEVELOPMENT CORPORATION 112798949 424682GE6 2014-11-14 32574808 TO FINANCE THE COST OF A NEW ACADEMIC BUILDING. 0 0 0 B TOWN OF HEMPSTEAD LOCAL DEVELOPMENT CORPORATION 112798949 424682HD7 2017-07-01 49942142 TO REFINANCE THE SERIES 2009 BONDS. 0 0 0 C TOWN OF HEMPSTEAD LOCAL DEVELOPMENT CORPORATION 112798949 424682JU7 2018-10-18 16104560 TO FINANCE THE COST OF A NEW DORMITORY BUILDING 0 0 0 A 3735000 32574808 1480180 584543 27990265 4000000 2016 1 1 1 1 B 7715000 49942142 672867 48923275 2017 0 1 1 1 C 1190000 16104560 527083 322484 15135862 2019 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART IV, LINE 2C, COLUMN A: THE UNIVERSITY COMMISSIONED AN INDEPENDENT THIRD PARTY BOND ARBITRAGE SPECIALIST TO DETERMINE WHETHER ANY ARBITRAGE EXISTED ON ITS 2014 BOND ISSUANCE. THE ARBITRAGE REPORT WAS ISSUED ON NOVEMBER 14TH, 2019 AND THE CONSULTANT CONCLUDED THAT NO REBATE WAS DUE. SCHEDULE K, PART IV, LINE 2C, COLUMN B: THE UNIVERSITY COMMISSIONED AN INDEPENDENT THIRD PARTY BOND ARBITRAGE SPECIALIST TO DETERMINE WHETHER ANY ARBITRAGE EXISTED ON ITS 2017 BOND ISSUANCE. THE ARBITRAGE REPORT WAS ISSUED ON JULY 7TH, 2022 AND THE CONSULTANT CONCLUDED THAT NO REBATE WAS DUE. SCHEDULE K, PART IV, LINE 2C, COLUMN C: THE UNIVERSITY COMMISSIONED AN INDEPENDENT THIRD PARTY BOND ARBITRAGE SPECIALIST TO DETERMINE WHETHER ANY ARBITRAGE EXISTED ON ITS 2018 BOND ISSUANCE. THE ARBITRAGE REPORT WAS ISSUED ON NOVEMBER 14, 2023 AND THE CONSULTANT CONCLUDED THAT NO REBATE WAS DUE. X 1 5877 FMV ON DATE OF DONATION X PIANO 1 18000 FMV 1 0 0 1 PART I, LINE 32B: AS PART OF ITS FUNDRAISING EFFORTS, THE UNIVERSITY SOLICITS DONATIONS FROM MANY SOURCES. IN THOSE INSTANCES WHERE IT RECEIVES NON-CASH SECURITIES, THE UNIVERSITY'S INVESTMENT MANAGER LIQUIDATES THOSE SECURITIES AND DEPOSITS THEM INTO AN ACCOUNT SET-UP TO RECEIVE SUCH FUNDS. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S FORM 990 IS PREPARED BY AN INDEPENDENT THIRD PARTY ACCOUNTING FIRM IN CONJUNCTION WITH THE UNIVERSITY'S FINANCIAL DEPARTMENT. THE 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THEN SHARED WITH THE UNIVERSITY'S AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES. UPON APPROVAL BY THE AUDIT COMMITTEE, A COPY OF THE COMPLETE FORM 990 IS SHARED WITH THE FULL BOARD OF DIRECTOR PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST STATEMENT IS REQUIRED TO BE COMPLETED ANNUALLY FOR ALL BOARD OF TRUSTEE MEMBERS, OFFICERS AND KEY EMPLOYEES. ANY TRANSACTIONS OR BUSINESS RELATIONSHIPS BETWEEN THE UNIVERSITY AND A TRUSTEE OR FAMILY MEMBER IS SUBJECT TO REVIEW AND APPROVAL OF DISINTERESTED MEMBERS OF THE BOARD TO ENSURE THAT SUCH TRANSACTIONS OR RELATIONSHIPS ARE IN THE BEST INTEREST OF THE UNIVERSITY AND COMPLIES WITH UNIVERSITY POLICY AND ALL APPLICABLE LEGAL AND ETHICAL GUIDELINES. THE AUDIT COMMITTEE OF THE BOARD SHALL REPORT TO THE FULL BOARD PERIODICALLY, BUT AT LEAST ANNUALLY, ANY SIGNIFICANT TRANSACTIONS AND RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY IS APPROVED BY THE BOARD OF TRUSTEES. THE COMPENSATION OF THE PRESIDENT IS BASED ON SEVERAL FACTORS, INCLUDING DATA COLLECTED FROM AND COMPARED TO VARIOUS UNIVERSITIES AND UNIVERSITIES IN OUR PEER GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY DOES NOT POST ITS FINANCIAL STATEMENTS ON ITS WEBSITE. COPIES ARE MADE AVAILABLE UPON REQUEST. THE FORM 990 IS POSTED ON GUIDESTAR AND IS MADE AVAILABLE IN THE UNIVERSITY'S FINANCE OFFICE. BYLAWS AND OTHER GOVERNING DOCUMENTS ARE MAINTAINED ON PREMISES AND AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CONDITIONAL ASSET RETIREMENT OBLIGATION ADJUSTMENT -24,295. LOSS CONTINGENCY ON POTENTIAL LITIGATION CLAIMS -719,590.