2024-05-07T07:22:41-05:00 2023-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2022-07-01 231543518 PENNSYLVANIA INSTITUTE OF TECHNOLOGY PENN 6108921500 800 MANCHESTER AVE MEDIA PA 190634098 H MATTHEW MEYERS PRESIDENT AND CEO 6108921500 2024-03-13 1 H MATTHEW MEYERS XXX-XX-XXXX 0 KERRI N BOGDA CPA P00760402 7177404863 2024-03-13 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z H MATTHEW MEYERS 800 MANCHESTER AVE MEDIA PA 190634098 13387660 0 X WWW.PIT.EDU X 1953 PA TO PROVIDE STUDENT SUCCESS BY OFFERING THE BEST COLLEGIATE EDUCATION. 13 13 146 115 0 0 2007090 1038703 11222595 12057606 11377 168087 2543 -206 13243605 13264190 73335 94087 0 0 6162934 7057703 0 0 187720 3390453 3801673 9626722 10953463 3616883 2310727 8362791 10725186 478127 457830 7884664 10267356 X THE MISSION OF PENNSYLVANIA INSTITUTE OF TECHNOLOGY IS STUDENT SUCCESS. CONTINUED ON SCHEDULE O.THE COLLEGE PROVIDES A SUPPORTIVE ENVIROMENT TO ENABLE COMMITTED STUDENTS TO SUCCEED BY OFFERING THE BEST COLLEGIATE EDUCATION FOR CAREER ADVANCEMENT, TRANSFER OPPORTUNITIES, AND PERSONAL GROWTH. 0 0 8183666 94087 12057606 P.I.T.'S ACADEMIC PROGRAMS ARE ORGANIZED INTO BACHELOR'S, ASSOCIATE DEGREE, AND CAREER CERTIFICATE OPTIONS. MANY OF THE PROGRAMS PREPARE GRADUATES TO OBTAIN STATE OR NATIONAL INDUSTRY CERTIFICATION IN THEIR FIELD. A BACHELOR'S DEGREE IN BUSINESS IS AVAILABLE ALONG WITH ASSOCIATE DEGREE PROGRAMS INCLUDING GENERAL STUDIES, HEALTH SCIENCE, HEALTHCARE MANAGEMENT, BUSINESS MANAGEMENT, ALLIED HEALTH, PHYSICAL THERAPIST ASSISTANT, DIAGNOSTIC MEDICAL SONOGRAPHY, AND THREE TRACKS OF CANNABIS STUDIES. THROUGH ITS SCHOOL OF PROFESSIONAL PROGRAMS, P.I.T. OFFERS CAREER CERTIFICATES IN PRACTICAL NURSING, AND MEDICAL ASSISTING. CONTINUED ON SCHEDULE O.STUDENTS IN DEGREE PROGRAMS EARN TRANSFERABLE COLLEGE CREDITS. STUDENTS IN ALLIED HEALTH CAREER CERTIFICATE PROGRAMS, UPON GRADUATION, MAY FURTHER THEIR EDUCATION AT P.I.T. BY COMPLETING ADDITIONAL REQUIRED COURSES TO EARN AN ASSOCIATE DEGREE IN ALLIED HEALTH TECHNOLOGY. DEGREE GRADUATES MAY TRANSFER THEIR CREDITS TO ONE OF THE MANY COLLEGES AND UNIVERSITIES WITH WHOM THE COLLEGE HAS ESTABLISHED MATRICULATION AGREEMENTS.IN ADDITION TO P.I.T.'S NATIONALLY RECOGNIZED ACADEMIC DEVELOPMENTAL PROGRAM AND LIBRARY SERVICES, STUDENT SUPPORT PROGRAMS INCLUDE CAREER PLANNING, COLLEGE SUCCESS WORKSHOPS, TUTORING, ACADEMIC SUPPORT COUNSELING, AND CAREER PLACEMENT. THE COLLEGE ALSO PROVIDES FULL AND PARTIAL SCHOLARSHIPS TO MANY STUDENTS WHO WOULD OTHERWISE NOT BE FINANCIALLY ABLE TO PURSUE A COLLEGIATE TECHNICAL EDUCATION. 8183666 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1349 0 146 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X ANNAMARIE CASSIDY CFO 6108921500 800 MANCHESTER AVENUE MEDIA PA 19063 DR THOMAS E MCDUFFIE JR BOARD CHAIRMAN/SECRETARY 1.00 X X 0 0 0 RICHARD H DOYLE CPA TREASURER 1.00 X X 0 0 0 ANTINUKE MOSS JD TRUSTEE 1.00 X 0 0 0 WILLIAM E SCHMIDT MBA TRUSTEE 1.00 X 0 0 0 SUSAN K GARRISON ESQ TRUSTEE 1.00 X 0 0 0 PAUL H WOODRUFF PE TRUSTEE 1.00 X 0 0 0 ROBERT M MADONNA TRUSTEE 1.00 X 0 0 0 KATHY HYNSON LPN TRUSTEE 1.00 X 0 0 0 ELIZABETH MENSCHNER DNP TRUSTEE 1.00 X 0 0 0 GERI SWINDELL BSN TRUSTEE 1.00 X 0 0 0 RICHARD JACOVINI TRUSTEE 1.00 X 0 0 0 DR JAMES CAPOLUPO TRUSTEE 1.00 X 0 0 0 MARY KAY BURKE TRUSTEE 1.00 X 0 0 0 KAYLA L MARRINER TRUSTEE (UNTIL 11/22) 1.00 X 0 0 0 PATRICIA VASSELL DNP RN TRUSTEE (UNTIL 08/22) 1.00 X 0 0 0 H MATTHEW MEYERS PRESIDENT AND CEO 50.00 X 151925 0 28570 ANNAMARIE CASSIDY CHIEF FINANCIAL OFFICER 50.00 X 132000 0 17656 HEATHER PFLEGER DEAN OF ACADEMIC AFFAIRS 40.00 X 100011 0 20752 CRAIG JACOBS DIRECTOR OF DATA AND TECHNOLOGY 40.00 X 118690 0 7121 LOUIS GIANNOTTI CANNABIS PROGRAM DIRECTOR 40.00 X 116445 0 26029 LAURA BLOMGREN DIR. ENROLLMENT SVCS. & MARKETING 40.00 X 109800 0 16241 728871 0 116369 6 0 1 0 0 869869 168834 3840 1038703 TUITION AND FEES 611600 12057606 12057606 12057606 173483 173483 3310 9231 -5921 -5921 -5921 99771 105167 -5396 -5396 -5396 3700 5376 -1676 -1676 4578 3696 882 882 ADMIN FEES 900099 5434 5434 MISCELLANEOUS REVENUE 900099 1075 1075 6509 13264190 12057606 0 167881 94087 94087 531095 170977 360118 5574252 5140529 320780 112943 179000 160862 12463 5675 285232 275335 888 9009 488124 428422 50791 8911 113825 113825 345880 120798 186632 38450 262419 262419 937036 878668 57812 556 17145 16851 294 85828 85828 16085 15616 440 29 2404 2094 310 334817 334817 134881 24175 110706 BAD DEBT EXPENSE 710000 710000 REPAIRS AND MAINTENANCE 265695 265695 GRANT EXPENSE 215749 215749 LABORATORY EXPENSE 94372 94372 265537 193608 60386 11543 10953463 8183666 2582077 187720 3158006 1311829 505218 550804 20779 25096 184021 218989 65870 72564 244952 314882 11488947 9656157 1964268 1832790 1935432 6079818 216810 212705 67435 105709 8362791 10725186 376997 406508 101130 51322 478127 457830 X 7680049 10196826 204615 70530 7884664 10267356 8362791 10725186 2310727 71965 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1975522 102459 500000 1577981 500000 1500000 -24478 1975522 500000 500000 500000 500000 500000 500000 1.00000 0.00000 0.00000 0 0 300000 300000 3976408 3090718 885690 6405154 5910183 494971 807385 655256 152129 1832790 X 13279271 71965 -75187 -3222 13282493 -18303 -18303 13264190 10896579 18303 18303 10878276 75187 75187 10953463 PART V, LINE 4: THE COLLEGE ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR THE OPERATION OF THE COLLEGE. THE ENDOWMENT CONSISTS SOLELY OF BOARD-DESIGNATED FUNDS TO MEET THE REQUIREMENTS OF THE PENNSYLVANIA DEPARTMENT OF EDUCATION MINIMUM PROTECTIVE ENDOWMENT FOR A PRIVATE TWO-YEAR COLLEGE. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE ABSENCE OF DONOR-IMPOSED RESTRICTIONS. AS THE OBJECTIVE OF THE BOARD-DESIGNATED ENDOWMENT FUNDS IS TO MEET THE REQUIREMENTS OF PENNSYLVANIA DEPARTMENT OF EDUCATION, THE ENDOWMENT HELD IN SHORT TERM AND LOW RISK INVESTMENTS, SUCH AS MONEY MARKET ACCOUNTS. THE OBJECTIVE OF THE FUNDS IS TO MEET THE MINIMUM PROTECTIVE ENDOWMENT REQUIREMENTS, THEREFORE THERE ARE NO GAINS OR INVESTMENT YIELD ASSOCIATED WITH THE ENDOWMENT HELD. PART X, LINE 2: THE COLLEGE 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. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION ASSISTANCE -75,187. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -9,231. GAMING EXPENSES -5,376. COST OF GOODS SOLD -3,696. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 9,231. GAMING EXPENSES 5,376. COST OF GOODS SOLD 3,696. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE 75,187. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ADVERTISEMENTS AND ADMISSION PUBLICATIONS STATE THAT THE COLLEGE HAS A RACIALLY NON-DISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 AS AN ACCREDITED TWO-YEAR COLLEGE, PENNSYLVANIA INSTITUTE OF TECHNOLOGY ANNUALLY RECEIVES FEDERAL WORK STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, STUDENT SUPPORT SERVICES (TRIO), AND PERKINS GRANTS. THESE PROGRAMS PROVIDE STUDENT SUPPORT SERVICES AND/OR DIRECT FUNDING TO STUDENTS. THE COLLEGE ALSO RECEIVES FUNDS FROM THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY THROUGH ITS INSTITUTIONAL ASSISTANCE GRANT PROGRAM. 1 STUDENT SCHOLARSHIPS 115 75187 0 EMPLOYEES AND DEPENDENTS ASSISTANCE 2 18900 0 PART I, LINE 2: PIT STAFF (BUSINESS OFFICE, GRANT ADMINISTRATOR, VICE PRESIDENT AND PROVOST) HAVE MONTHLY MEETINGS TO REVIEW GRANT DISBURSEMENTS. THE GRANT ADMINISTRATOR GOES TO CONFERENCES AS SCHEDULED. WHEN THE GRANT IS AWARDED TO STUDENTS, THEN FINANCIAL AID AND STUDENT SERVICES VERIFY STUDENT ELIGIBILITY. THE BUSINESS OFFICE KEEPS COPIES OF ALL DISBURSEMENTS AND PROVIDES COPIES TO GRANT ADMINISTRATORS. THE BUSINESS OFFICE STAFF TRACK ALL SALARIES COVERED BY GRANTS. RECIPIENTS ARE DETERMINED BY STUDENTS APPLYING FOR A SCHOLARSHIP AND THEN THE SCHOLARSHIP COMMITTEE MEETS TO REVIEW AND APPROVE ALL SCHOLARSHIPS. X X 0 0 0 0 0 0 0 0 0 H MATTHEW MEYERS PRESIDENT AND CEO 151925 0 0 0 0 0 9354 0 19216 0 180495 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT/FINANCE COMMITTEE, THE PRESIDENT AND THE CFO MEET AND REVIEW THE RETURN. THE BOARD IS PROVIDED WITH A FULL COPY OF FORM 990 PRIOR TO THE RETURN BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY REVIEW AND SIGN A CONFLICT OF INTEREST POLICY. CONFLICTS OF INTEREST AND FAMILY AND BUSINESS RELATIONSHIPS ARE REQUIRED TO BE REPORTED TO THE PRESIDENT. THE PRESIDENT MONITORS AND ENFORCES THIS POLICY. ALL OFFICERS, TRUSTEES, AND OTHER INTERESTED PERSONS ARE REQUIRED TO DISCLOSE TO THE BOARD ANY CONFLICTS OR POTENTIAL CONFLICTS. THE CONFLICTED PERSON MUST RECUSE HIMSELF OR HERSELF WHILE THE BOARD DELIBERATES ON THE CONFLICT TO DETERMINE IF ALTERNATIVES TO THE TRANSACTION ARE AVAILABLE. FORM 990, PART VI, SECTION B, LINE 15A WHILE BOARD MEMBERS MAY INTERVIEW OTHER EXECUTIVES, THE BOARD ONLY WORKS DIRECTLY TO DETERMINE THE COMPENSATION FOR THE PRESIDENT. THE BOARD HIRES COMPENSATION CONSULTANTS TO PROVIDE DATA THAT INDICATES SALARIES OF COMPARABLE INSTITUTIONS TO ENSURE THE PRESIDENT'S SALARY IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. MOYLAN DEVELOPMENT CORP 800 MANCHESTER AVE MEDIA PA 19063 232843930 REAL ESTATE PA PENNSYLVANIA INSTITUTE OF TECHNOLOGY C -4104 617494 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0