2024-05-01T12:09:19-05:00 2023-06-30 366055558 GRANT THORNTON LLP 1000 WILSON BLVD SUITE 1500 ARLINGTON VA 22209 990 2022-07-01 231352648 IMMACULATA UNIVERSITY IMMA 6106474400 1145 KING ROAD IMMACULATA PA 19345 AMY A BOSIO VICE PRESIDENT OF FINANCE AND ADMIN 4843233050 2024-05-01 1 AMY BOSIO XXX-XX-XXXX 0 MARY TORRETTA P00847851 7038477500 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z AMY A BOSIO 1145 KING ROAD IMMACULATA PA 19345 66421797 0 X WWW.IMMACULATA.EDU X 1946 PA SEE SCHEDULE OTHE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO MEN AND WOMEN DIRECTED PRIMARILY TOWARD LIBERAL ARTS AND PROFESSIONAL EDUCATION. 26 26 1013 26 45843 0 7301754 4241097 47073709 45221542 954862 2348678 493548 185224 55823873 51996541 13357512 12112340 0 0 21057507 21338109 0 0 884462 17448682 18393456 51863701 51843905 3960172 152636 89439776 87633205 48870608 46160878 40569168 41472327 X SEE SCHEDULE OIMMACULATA UNIVERSITY (THE UNIVERSITY) IS A CATHOLIC INSTITUTION OF HIGHER EDUCATION FOUNDED IN 1920 BY THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY (THE CONGREGATION). THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO MEN AND WOMEN DIRECTED PRIMARILY TOWARD LIBERAL ARTS AND PROFESSIONAL EDUCATION. IN ADDITION TO ON CAMPUS AND OFF-SITE GRADUATE AND UNDERGRADUATE PROGRAMS, THE UNIVERSITY OFFERS COURSES IN ONLINE INSTRUCTION. THE UNIVERSITY IS COMMITTED TO SCHOLARSHIP AND THE FORMATION OF THE WHOLE PERSON FOR LEADERSHIP AND SERVICE AND TO THE EMPOWERMENT OF ALL MEMBERS OF THE COMMUNITY TO SEEK TRUTH, PROMOTE JUSTICE, FOSTER PEACE AND ENGAGE IN DIALOGUE BETWEEN FAITH AND CULTURE. 0 0 33949328 11794430 39509599 TO EDUCATE AND PROVIDE RELATED SERVICES TO STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2022/2023, THIS PROGRAM BENEFITTED 2,392 OF WHOM 948 WERE TRADITIONAL UNDERGRADUATE AND 884 GRADUATE STUDENTS. THIS PROGRAM ALSO CONTRIBUTED TOWARD THE GRADUATION OF 485 STUDENTS DURING ACADEMIC YEAR 2022/2023. 2621141 187820 3310366 TO PROVIDE LIVING QUARTERS FOR STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2022/2023, THIS PROGRAM BENEFITTED 469 STUDENTS. 2993829 130090 2331000 TO PROVIDE MEALS TO STUDENTS. IN THE FALL OF 2022, THIS PROGRAM BENEFITTED 501 STUDENTS. 310272 BOOKSTORE COMMISSION AND VENDING - $45,498FOOD SERVICES-CATERING - $3,096IU CASH RECEIPTS - $21,983PARKING FEES/PERMITS - $42,770TRANSCRIPT INCOME - $26,637FORFEIT STUDENT DEPOSITS - $13,453ALL OTHER REVENUE - $156,835 310272 39564298 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 126 0 1 1013 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X AMY A BOSIO 4843233050 1145 KING RD IMMACULATA PA 19345 SISTER MARGARET ROSE ADAMS TRUSTEE 2.00 0.00 X 0 0 0 PEGGY BEHM TRUSTEE 2.00 0.00 X 0 0 0 NORMA C BROWN TRUSTEE 2.00 0.00 X 0 0 0 SISTER ELAINE DECHANTAL BROOKES IHM TRUSTEE 2.00 0.00 X 0 0 0 JUSTIN CUSICK TRUSTEE 2.00 0.00 X 0 0 0 CINDY EGNOTOVICH TRUSTEE 2.00 0.00 X 0 0 0 AJ GABRIELE TRUSTEE 2.00 0.00 X 0 0 0 MELISSA GEORGE TRUSTEE 2.00 0.00 X 0 0 0 RALPH J HALL TRUSTEE 2.00 0.00 X 0 0 0 KATHLEEN HOHENADEL TRUSTEE (AS OF 3/23) 2.00 0.00 X 0 0 0 KATHLEEN JAMES TRUSTEE 2.00 0.00 X 0 0 0 PATRICIA A KNECHT PHD TRUSTEE 2.00 0.00 X 0 0 0 MARY LOU KRAMER TRUSTEE 2.00 0.00 X 0 0 0 BERNADETTE MAGUIRE TRUSTEE 2.00 0.00 X 0 0 0 DIANNE MANGES TRUSTEE (AS OF 7/22) 2.00 0.00 X 0 0 0 SISTER PATRICIA MENGEL IHM TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY J MONTAGNOLO TRUSTEE 2.00 0.00 X 0 0 0 KEVIN MOORE TRUSTEE 2.00 0.00 X 0 0 0 SISTER JEANNINE MARY NORTON IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER JANET PURCELL IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER STEPHEN ANN RODERIGUEZ IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER MARY SMITH IHM TRUSTEE 2.00 0.00 X 0 0 0 SISTER MARY ELLEN TENNITY IHM TRUSTEE 2.00 0.00 X 0 0 0 MIMI DRAPER WALSH TRUSTEE 2.00 0.00 X 0 0 0 MARY BETH WESTMORELAND TRUSTEE 2.00 0.00 X 0 0 0 JUDITH WITT TRUSTEE 2.00 0.00 X 0 0 0 BARBARA LETTIERE PRESIDENT 40.00 0.00 X 261352 0 19492 SUSAN ARNOLD VP OF ADVANCEMENT 40.00 0.00 X 193314 0 15374 PATRICIA CANTERINO VP FOR SD & UA 40.00 0.00 X 179505 0 14601 ANGELA TEKELY VP ACADEMIC AFFAIRS 40.00 0.00 X 156067 0 30712 AMY BOSIO VP FINANCE & ADMINISTRATION 40.00 0.00 X 97580 0 17522 SISTER ANTOINE LAWLOR IHM VP FOR MISSION AND MINISTRY 40.00 0.00 X 0 0 0 SISTER MONICA SICILIA VP OF COMMUNICATIONS (THRU 8/22) 40.00 0.00 X 0 0 0 BRYAN STEINBERG EXEC. DIR. OF INFORMATION TECH SERV. 40.00 0.00 X 136042 0 27442 KERRY JONES DIRECTOR, CAPITAL PROGRAM MANAGEMENT 40.00 0.00 X 142855 0 13048 JEFFREY ROLLISON DIRECTOR OF LIBRARY 40.00 0.00 X 115292 0 11074 CLAUDINE VITA EXEC. DIR. OF HUMAN RESOURCES 40.00 0.00 X 113327 0 12906 MELISSA REED DEAN 40.00 0.00 X 118694 0 11158 1514028 0 173329 11 0 1 0 PARKHURST DINING PO BOX 644091 PITTSBURGH PA 182644091 DINING SERVICE 3372660 RC LEGNINI COMPANY INC 46 PENNSYLVANIA AVENUE MALVERN PA 19355 CONTRACTOR 1491141 SISTERS OF IHM 1 OUR LADY CIRCLE IMMACULATA PA 19345 STUDENT TEACHING 893945 ELLUCIAN COMPANY 62578 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TECHNOLOGY SERVICES 744757 PASKILL STAPLETON & LORD 1 ROBERTS AVENUE GLENSIDE PA 19038 MARKETING SERVICES 600000 20 54876 412450 3773771 45448 4241097 TUITION / FEES 611710 39509599 39509599 RESIDENT HALLS 721310 3310366 3310366 STUDENT BOARD PLAN 611710 2331000 2331000 BOOKSTORE COMM. & VEND 900099 45498 45498 IU CASH RECEIPTS 900099 21983 21983 3096 3096 45221542 1480890 1480890 85724 85724 52693 0 52693 52693 45843 6850 15082981 14300917 782064 782064 782064 17175 54876 37944 -20769 -20769 86395 -86395 -86395 PARKING FEE/PERMITS 812930 42770 42770 TRANSCRIPT INCOME 611710 26637 26637 FORFEIT STUDENT DEPOSI 611710 13453 13453 156835 156835 239695 51996541 45461237 45843 2248364 12112340 12112340 975733 180000 601383 194350 16559256 12786376 3416690 356190 457015 328981 108923 19111 2111059 1464679 591191 55189 1235046 951150 245501 38395 148737 148737 100775 100775 96076 96076 2715243 1955287 759956 813210 85793 714750 12667 3234793 2335232 694808 204753 2706141 2706141 158122 149872 4443 3807 1838915 1475886 363029 3691531 2962768 728763 491284 390655 100629 FEES FOR DINING SERVICE 2302238 2302238 EQUIPMENT 96391 83041 13350 51843905 39564298 11395145 884462 3068281 1775422 128244 1704063 639357 633311 178908 120414 934844 532023 146097000 92388423 54874070 53708577 29511887 29076576 0 0 0 0 104185 82819 89439776 87633205 3214228 2054543 2270617 2396025 35594724 34822992 5106471 4253288 2684568 2634030 48870608 46160878 X 16207768 18600408 24361400 22871919 40569168 41472327 89439776 87633205 152636 750523 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25860074 5293211 2855643 8509196 25499735 26723755 6422012 -4518131 2767562 25860074 20961788 883848 5378845 500726 26723755 18532299 2135767 879716 585994 20961788 19677380 228060 1126859 2500000 18532299 0.33900 0.36200 0.29900 0 0 212719 212719 118875934 69249273 49626661 168406 168406 26839941 23139150 3700791 53708577 RIGHT-OF-USE ASSET 82819 82819 CONDITIONAL ASSET RETIREMENT 2461694 STUDENT DEPOSITS 172336 2634030 X 40704670 750523 129953 880476 39824194 96076 12076271 12172347 51996541 39801511 129953 129953 39671558 96076 12076271 12172347 51843905 PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 60 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND NONRESTRICTED QUASI-ENDOWMENT FUNDS. THE QUASI-ENDOWMENT FUNDS' PRIMARY PURPOSE IS TO PROVIDE STABLE SUPPORT FOR LIQUIDITY COVENANTS IN CONNECTION WITH LONG-TERM DEBT OUTSTANDING. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING NONRESTRICTED QUASI-ENDOWMENT FUNDS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: FIN 48 DISCLOSURE (ASC 740): THE UNIVERSITY IS QUALIFIED AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. ACCORDINGLY, THE UNIVERSITY IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS, IF ANY, ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR FISCAL YEAR 2023 OR 2022. PART XI, LINE 4B CONTRA-TUITION 11,794,430 RESIDENT ASSISTANT DISCOUNTS 319,785 FUNDRAISING EVENT EXPENSES (37,944) PART XII, LINE 4B CONTRA-TUITION 11,794,430 RESIDENT ASSISTANT DISCOUNTS 319,785 FUNDRAISING EVENT EXPENSES (37,944) 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 PROVIDES A STATEMENT IN ALL PUBLICATIONS REGARDING ITS NONDISCRIMINATORY POLICY, INCLUDING ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 IMMACULATA RECEIVES GOVERNMENT FINANCIAL ASSISTANCE IN THE FORM OF FEDERAL AND STATE GRANTS. GOLF TOURNAMENT 72051 54876 17175 1875 31940 4129 72051 54876 17175 1875 31940 4129 37944 -20769 1 SCHOLARSHIPS 1038 12112340 PART I, LINE 2: GRANTS ISSUED BY IMMACULATA UNIVERSITY ARE PRIMARILY IN THE FORM OF SCHOLARSHIP AND GRANTS AWARDED AS PART OF FINANCIAL AID. FINANCIAL AID GRANTS AWARDED TO STUDENTS ARE DIRECTLY APPLIED BY THE UNIVERSITY TO OFFSET BILLED AMOUNTS (I.E. TUITION) ON THE STUDENT'S ACCOUNT, THEREBY REDUCING THE NET BALANCE DUE TO THE UNIVERSITY. STUDENTS RECEIVING SCHOLARSHIPS ARE ASSESSED ON THE BASIS OF ACADEMIC ACHIEVEMENTS, FINANCIAL NEEDS AND SIMILAR STANDARDS. X X X 1 0 0 0 0 0 0 0 0 BARBARA LETTIERE PRESIDENT 259735 0 0 0 1617 0 10583 0 8909 0 280844 0 0 0 SUSAN ARNOLD VP OF ADVANCEMENT 193314 0 0 0 0 0 7468 0 7906 0 208688 0 0 0 PATRICIA CANTERINO VP FOR SD & UA 179505 0 0 0 0 0 7200 0 7401 0 194106 0 0 0 ANGELA TEKELY VP ACADEMIC AFFAIRS 156067 0 0 0 0 0 6055 0 24657 0 186779 0 0 0 BRYAN STEINBERG EXEC. DIR. OF INFORMATION TECH SERV. 135264 0 0 0 778 0 5734 0 21708 0 163484 0 0 0 KERRY JONES DIRECTOR, CAPITAL PROGRAM MANAGEMENT 142855 0 0 0 0 0 5734 0 7314 0 155903 0 0 0 PART I, LINE 3 THE FOLLOWING TRUSTEES OF IMMACULATA UNIVERSITY'S BOARD OF TRUSTEES ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER MARY ELLEN TENNITY, IHM SISTER MARGARET ROSE ADAMS, IHM SISTER ELAINE DECHANTAL BROOKES, IHM SISTER JEANNINE MARY NORTON, IHM SISTER JANET PURCELL, IHM SISTER STEPHEN ANNE RODERIGUEZ, IHM SISTER PATRICIA MENGEL, IHM SISTER MARY SMITH, IHM THE FOLLOWING OFFICERS OF IMMACULATA UNIVERSITY ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER ANTOINE LAWLOR, IHM - VP FOR MISSION AND MINISTRY PART I, LINE 4A CLAUDINE VITA, HIGHEST COMPENSATED EMPLOYEE, RECEIVED A SEVERANCE PAYMENT TOTALING $17,974 IN CALENDAR YEAR 2022. A CHESTER COUNTY HEALTH & ED FACILITIES AU 232265260 165579ET6 2013-12-16 5700000 CAMPUS RENOVATIONS AND UPGRADES 1 0 0 B CHESTER COUNTY HEALTH & ED FACILITIES AU 232265260 165579ET6 2017-10-31 39012610 CURRENT REFUNDING SERIES 2010 AND 0 0 0 A 5700000 5700000 570000 319000 114000 4697000 2014 0 0 1 1 B 39012610 2520000 7437414 567282 28487914 2017 1 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 1 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CHESTER COUNTY HEALTH & ED FACILITIES AU DATE THE REBATE COMPUTATION WAS PERFORMED: 12/19/2023 X RAMAN SPECTROSCOPY 1 45000 FMV X NURSING SUPPLIES 1 448 FMV 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN EACH CATEGORY. FORM 990, PART VI, SECTION B, LINE 11B REVIEW PROCESS OF FORM 990: AN INDEPENDENT TAX PREPARATION FIRM IS ENGAGED TO ASSIST IN COMPILING FORM 990 WITH DATA PROVIDED FROM THE BUSINESS OFFICE. UNIVERSITY MANAGEMENT REVIEWS THE FORM 990 FOR COMPLETENESS AND ACCURACY. PRIOR TO FILING, MANAGEMENT PRESENTS THE FORM 990 TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990 IS REVIEWED AND SIGNED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT AND SUBMIT SUCH STATEMENT TO THE UNIVERSITY PRESIDENT. THE PRESIDENT REVIEWS THOSE STATEMENTS FOR POTENTIAL CONFLICTS. THE DISCLOSURE STATEMENT ALSO REQUIRES ALL MEMBERS TO NOTIFY THE UNIVERSITY PRESIDENT PROMPTLY OF ANY ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST AS IT ARISES, SO THAT IT CAN BE ADDRESSED IMMEDIATELY. SHOULD THERE BE A CONFLICT OF INTEREST ANY AFFECTED TRUSTEE OR OFFICER SHALL REFRAIN FROM ANY CONSIDERATION OF, OR ACTION UPON, THE TRANSACTION OR PROPOSED TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT PERSONS COMPRISING THE COMPENSATION COMMITTEE REVIEWED BENCHMARKING DATA WHEN HIRING THE UNIVERSITY PRESIDENT, AND HAVE ADJUSTED HER COMPENSATION PERIODICALLY SINCE. THE COMPENSATION COMMITTEE REVIEWS AND DOCUMENTS ITS DETERMINATION THAT THE COMPENSATION PAID IS REASONABLE. FORM 990, PART VI, LINE 15B: PROCESS FOR DETERMINING COMPENSATION OF OFFICERS & KEY EMPLOYEES: DURING THE 2020-21 FISCAL YEAR, THE COMPENSATION OF ALL OFFICERS OF THE UNIVERSITY WAS REVIEWED. THE SALARY DATA WAS BENCHMARKED USING CUPA SALARY FOR ADMINISTRATORS IN HIGHER EDUCATION AND WAS SET WITHIN THE CONSTRAINTS OF THE BOARD OF TRUSTEE'S APPROVED OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY, AND FINANCIALS: THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SISTERS SERVANTS OF IHM VILLA MARIA GENERALATE 1140 KING RO IMMACULATA PA 19345 231352569 RELIGIOUS PA 501(C)(3) LINE 2 N/A 0 ENSERV INC PO BOX 665 IMMACULATA PA 19345 232731906 WATER TREATMENT PA 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0