2024-02-01T10:02:00-06:00 2023-05-31 161131146 BONADIO & CO LLP 100 CORPORATE PARKWAY SUITE 200 AMHERST NY 14226 990 2022-06-01 160743942 CANISIUS UNIVERSITY CANI 7168882483 2001 MAIN STREET BUFFALO NY 14208 TIMOTHY BALKIN VP OF FINANCE 7168837000 2023-12-06 1 TIMOTHY BALKIN XXX-XX-XXXX 1 JOSEPH PEPLIN P01311564 7162506600 2024-01-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X TIMOTHY BALKIN 2001 MAIN STREET BUFFALO NY 14208 134517810 0 X HTTPS://WWW.CANISIUS.EDU X 1870 NY CANISIUS UNIVERSITY IS A PRIVATE, INDEPENDENT ROMAN CATHOLIC UNIVERSITY, GOVERNED BY AN INDEPENDENT SELF PERPETUATING BOARD OF TRUSTEES UNDER A CHARTER GRANTED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF THE STATE OF NEW YORK. ESTABLISHED AS A LIBERAL ARTS COLLEGE, THE UNIVERTY HAS GROWN TO INCLUDE A GRADUATE DIVISION, A SCHOOL OF BUSINESS ADMINISTRATION, A SCHOOL OF EDUCATION AND HUMAN SERVICES, AND A SUMMER SESSION IN ADDITION TO THE COLLEGE OF ARTS AND SCIENCES. 32 32 1402 38 236685 0 17838008 10061227 76540392 78196800 5265850 -231971 4535386 11906974 104179636 99933030 32612489 34081955 0 0 37293009 37805569 0 0 1656954 38755384 32691008 108660882 104578532 -4481246 -4645502 289486779 276069279 69979176 65677263 219507603 210392016 X CANISIUS UNIVERSITY IS A PRIVATE, INDEPENDENT ROMAN CATHOLIC UNIVERSITY, GOVERNED BY AN INDEPENDENT SELF PERPETUATING BOARD OF TRUSTEES UNDER A CHARTER GRANTED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF THE STATE OF NEW YORK. ESTABLISHED AS A LIBERAL ARTS COLLEGE, THE UNIVERSITY HAS GROWN TO INCLUDE A GRADUATE DIVISION, A SCHOOL OF BUSINESS ADMINISTRATION, A SCHOOL OF EDUCATION AND HUMAN SERVICES, AND A SUMMER SESSION IN ADDITION TO THE COLLEGE OF ARTS AND SCIENCES. 0 0 59624253 34064188 65926890 EDUCATION/INSTRUCTION - PROVIDE EDUCATION TO 2,492 STUDENTS IN THE FALL AND 2,389 STUDENTS IN THE SPRING SEMESTERS. 18763020 17767 5604753 STUDENT SERVICES - PROVIDE THE NECESSARY SERVICES REQUIRED BY THE STUDENTS ENROLLED IN THE PROGRAMS. 7008573 8510015 RESIDENCE HALLS - PROVIDE ROOM AND BOARD TO ALL RESIDENT STUDENTS AND THOSE STUDENTS WITH MEAL PLANS. 85395846 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 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 0 0 0 0 1 389 0 1 1402 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X TIMOTHY BALKIN 7168882483 2001 MAIN STREET BUFFALO NY 14208 MARTIN J BERARDI TRUSTEE - CHAIR 0.50 X X 0 0 0 CINDY L ODOM TRUSTEE - VICE CHAIR 0.50 X X 0 0 0 NANCY W WARE TRUSTEE - EMERITA 0.50 X 0 0 0 JOHN R CONNOLLY EMERITUS TRUSTEE 0.50 X 0 0 0 CATHERINE A BOLZ TRUSTEE 0.50 X 0 0 0 KIMBERLY A DETRASK TRUSTEE 0.50 X 0 0 0 JERRY G CANADA JR TRUSTEE 0.50 X 0 0 0 CHRISTOPHER P DEVINE TRUSTEE 0.50 X 0 0 0 NELSON D CIVELLO TRUSTEE 0.50 X 0 0 0 NORA E EBERL PLIZGA TRUSTEE 0.50 X 0 0 0 EILEEN CROTTY SENDOR TRUSTEE 0.50 X 0 0 0 JOYSON C THOMAS TRUSTEE 0.50 X 0 0 0 CHRISTOPHER F MALOF TRUSTEE 0.50 X 0 0 0 STEPHEN F JACKSON TRUSTEE 0.50 X 0 0 0 JAMES R DEUSCHLE TRUSTEE 0.50 X 0 0 0 CHRISTOPHER M KELLY TRUSTEE 0.50 X 0 0 0 HON LENORA FOOTE-BEAVERS TRUSTEE 0.50 X 0 0 0 FRANCIS M LAZARUS TRUSTEE 0.50 X 0 0 0 LT COL JAMES E MCNICHOLAS JR TRUSTEE 0.50 X 0 0 0 MARK J LEMA TRUSTEE 0.50 X 0 0 0 REV GERALD THOMAS KRETTEK SJ TRUSTEE 0.50 X 0 0 0 MARGARET W PAROSKI TRUSTEE 0.50 X 0 0 0 REV PATRICK D ROGERS SJ TRUSTEE 0.50 X 0 0 0 MARYA J PROPIS TRUSTEE 0.50 X 0 0 0 VINCENT GILBERT ROUX TRUSTEE 0.50 X 0 0 0 ANTHONY F SHELLEY TRUSTEE 0.50 X 0 0 0 REV JEFFREY P VON ARX SJ TRUSTEE 0.50 X 0 0 0 REV THOMAS R SLON SJ TRUSTEE 0.50 X 0 0 0 TIMOTHY T TEVENS TRUSTEE 0.50 X 0 0 0 LAURA A ZAEPFEL TRUSTEE 0.50 X 0 0 0 MICHAEL J TODARO TRUSTEE 0.50 X 0 0 0 CYNTHIA L SKRZYCKI TRUSTEE 0.50 X 0 0 0 ANTHONY B SPADA JR TRUSTEE 0.50 X 0 0 0 THOMAS G SMITH TRUSTEE 0.50 X 0 0 0 DAVID J NASCA TRUSTEE-VICE CHAIR(TERM ENDED 6/30/2022) 0.50 X 0 0 0 ROBERT H MALONEY TRUSTEE (TERM ENDED 6/30/2022) 0.50 X 0 0 0 ANTHONY M MASIELLO TRUSTEE (TERM ENDED 6/30/2022) 0.50 X 0 0 0 REV PHILLIP A FLORIO SJ TRUSTEE(TERM ENDED 6/30/2022) 0.50 X 0 0 0 STEVE K STOUTE PRESIDENT 40.00 X 225385 0 25112 DR SARA R MORRIS VP - ACADEMIC AFFAIRS 40.00 X 200730 0 67097 TIMOTHY P BALKIN VP - BUSINESS/FINANCE 40.00 X 180184 0 10062 DANIELLE IANNI VP - ENROLLMENT MANAGEMENT 40.00 X 156091 0 7264 KIMBERLY A VENTI VP - INSTITUTIONAL ADVANCE 40.00 X 151368 0 81109 SANDRA ESTANEK VP STUD. AFFAIRS THRU 7/15/22 40.00 X 100880 0 3692 JOHN J HURLEY PRESIDENT - RETIRED 7/1/22 40.00 X 178755 0 30902 HAROLD FIELDS VP - STUDENT AFFAIRS 40.00 X 65976 0 8711 DR IAN J REDPATH PROFESSOR - ACCOUNTING 40.00 X 154576 0 20587 DR JOSEPH O'DONNELL PROFESSOR - ACCOUNTING 40.00 X 167591 0 7844 DR JAMES GOLDSTEIN PROFESSOR - ACCOUNTING 40.00 X 163266 0 20620 DR DENISE ROTONDO DEAN - SCHOOL OF BUSINESS 40.00 X 175657 0 52055 PHILLIP WITHERSPOON MEAN'S BASKETBALL COACH 40.00 X 271861 0 11504 2192320 0 346559 41 0 1 0 CHARTWELLS EDUCATIONAL DINING SERVICES 81 ST MARY ST TORONTO ONTARIO CA FOOD SERVICES 3105995 SEPCO INC PO BOX 654 BINGHAMTON NY 13902 DISASTER CLEANUP 2250000 RP OAK HILL BUILDING COMPANY INC 3556 LAKESHORE RD STE 620 BLASDELL NY 14219 CONSTRUCTION SERVICES 1540224 MLP PLUMBING AND MECHANICAL INC 3198 UNION RD CHEEKTOWAGA NY 14227 HVAC AND MAINTENANCE SERVICES 1215434 ELBERS LANDSCAPE SERVICES INC 2900 MAIN ST BUFFALO NY 14214 LANDSCAPING AND MAINTENANCE 623527 39 19585 2616384 7425258 298125 10061227 TUITION AND FEES 611710 67708881 67708881 RESIDENCE HALL - RM & BO 611710 8510015 8510015 FOOD SERVICE/ATHLETICS/BOOKSTORE 611710 1977904 1741219 236685 78196800 662831 662831 134043 0 134043 134043 134043 31477987 2150000 29878982 4643807 1599005 -2493807 -894802 -894802 92331 19585 61991 30340 30340 NET PROCEEDS FROM INSURANCE CLAIM 611310 6476610 6476610 EMPLOYEE RETENTION CREDIT 611310 3184438 3184438 OTHER INCOME 611310 2081543 2081543 11742591 99933030 80041658 236685 9593460 34081955 34081955 1259370 367587 740415 151368 27604773 21455288 5363822 785663 958724 741065 185266 32393 5774981 4388986 1212746 173249 2207721 1677868 463621 66232 258670 258670 54235 54235 55000 55000 1697606 1442965 220689 33952 6349742 5397281 825466 126995 ACADEMIC SUPPORT 10656013 10656013 INSTITUTIONAL SUPPORT 6539957 6252855 287102 INSTRUCTION 3876611 3876611 MISCELLANEOUS 1945050 1310227 634823 1258124 1258124 104578532 85395846 17525732 1656954 7298463 16337516 3149794 2894564 10264708 8041140 3301538 6751672 1794638 958677 264446627 167414341 104577084 97032286 158044405 141563398 1056149 2490026 289486779 276069279 12442477 10516795 4973731 5489254 45532628 42587625 227192 204370 6803148 6879219 69979176 65677263 X 80275986 70014105 139231617 140377911 219507603 210392016 289486779 276069279 X -4645502 -4686867 216782 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 5394 1 0 155680773 2645936 -2228220 8311092 5000000 142787397 159983803 2854467 1616098 7323595 1450000 155680773 124459540 4656361 39803231 6935329 2000000 159983803 129200979 3772713 -13463 5500689 3000000 124459540 133912453 3086373 1108185 4906032 4000000 129200979 0.10070 0.31560 0.58370 1 0 5455772 5455772 196584625 111151962 85432663 62406230 56262379 6143851 97032286 ALTERNATIVE INVESTMENTS 141563398 F 141563398 DEPOSITS HELD IN CUSTODY 165250 GOVERNMENT GRANTS REFUNDABLE 364400 ASSET RETIREMENT OBLIGATION 5566978 OPERATING RIGHT-OF-USE LIABILITY 782591 6879219 X 65637590 -4686867 278773 -4408094 70045684 29887346 29887346 99933030 74753177 61991 61991 74691186 29887346 29887346 104578532 PART X, LINE 2: THE UNIVERSITY IS SUBJECT TO THE PROVISIONS OF ASC NO. 740-10, INCOME TAXES, RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. NO LIABILITY FOR UNRECOGNIZED TAX EXPENSE WAS REQUIRED AT MAY 31, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING ACTIVITY - $61,991 GAIN ON INTEREST RATE SWAP AGREEMENT - $216,782 PART XI, LINE 4B - OTHER ADJUSTMENTS: ENDOWED SCHOLARSHIPS - $6,555,743 INSTITUTIONAL SCHOLARSHIPS AND STUDENT AID - $23,331,603 PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING ACTIVITY - $61,991 PART XII, LINE 4B - OTHER ADJUSTMENTS: ENDOWED SCHOLARSHIPS - $6,555,743 INSTITUTIONAL SCHOLARSHIPS AND STUDENT AID - $23,331,603 PART V, LINE 4: THE PREEMINENT FUNCTION OF THE CANISIUS UNIVERSITY ENDOWMENT IS TO SUPPORT THE EDUCATIONAL MISSION OF THE UNIVERSITY BY PROVIDING FINANCIAL RESOURCES TO HELP UNDERWRITE THE EDUCATIONAL NEEDS OF CURRENT AND FUTURE GENERATIONS OF STUDENTS AND TO ENHANCE THE FINANCIAL WELL BEING OF CANISIUS UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS TAX EXEMPT ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT WAS DETERMINED BY THE INTERNAL REVENUE SERVICE IN A RULING DATED MARCH 24, 1946, THE ORGANIZATIONS AND AFFILIATES OF THE ROMAN CATHOLIC CHURCH, AS LISTED IN THE OFFICIAL CATHOLIC DIRECTORY, WERE ENTITLED TO EXEMPTION FROM FEDERAL INCOME TAX. THE RULING IS UPDATED ANNUALLY. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CANISIUS UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED AT LEAST ANNUALLY IN THEIR NEWSPAPER. THE UNIVERSITY ALSO INCLUDES A STATEMENT OF THIS POLICY IN ALL BROCHURES, CATALOGS AND ADVERTISEMENTS DEALING WITH STUDENT PROGRAMS, ADMISSIONS AND SCHOLARSHIPS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL AID FROM VARIOUS FEDERAL AND STATE AGENCIES. THE UNIVERSITY OPERATES UNDER A NONDISCRIMINATORY POLICY, AND DISTRIBUTES FINANCIAL AID IN ACCORDANCE WITH SUCH POLICY. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES FACULTY TRAVEL AND RESEARCH 67772 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES FACULTY TRAVEL AND RESEARCH 31659 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDENT REFUNDS, SOFTWARE, STUDY ABROAD, TRAVEL, STUDENT RECRUITING 204412 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES STUDENT RECRUITING, SOFTWARE, PROFESSIONAL SERVICES, STUDENT REFUNDS, STUDENT AND FACULTY TRAVEL 101762 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 PROGRAM SERVICES FACULTY TRAVEL AND RESEARCH 18559 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES STUDENT RECRUITING, FACULTY TRAVEL AND RESEARCH 32925 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES EQUIPMENT SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES FACULTY TRAVEL AND RESEARCH 50389 0 0 0 0 0 0 507478 0 507478 1 0 0 1 1 1 PART I, LINE 3: EXPENSES MADE OUTSIDE OF THE UNITED STATES ARE ACCOUNTED FOR ON THE BOOKS OF THE UNIVERSITY. PART III ACCOUNTING METHOD: CELEBRATE CANISIUS 50220 6880 43340 13000 BLUE & GOLD GOLF OUTING 61696 12705 48991 6339 39568 632 2452 0 111916 19585 92331 6339 39568 13632 2452 61991 30340 1 UNRESTRICTED AND INSTITUTIONAL SCHOLARSHIPS, INCLUDING MERIT AND ATHLETIC SHOLARSHIPS 6693 23331603 RESTRICTED SCHOLARSHIPS AND GOVERNMENT AID 4802 10750352 PART I, LINE 2: THE UNIVERSITY'S FINANCIAL AID OFFICE MAINTAINS ELIGIBILITY REQUIREMENTS AND MONITORS GRANTING OF AWARDS TO STUDENTS AND FOLLOWS U.S. FEDERAL AID REGULATIONS AND ALL STATES' REGULATIONS FOR GRANTS TO ITS STUDENTS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PHILLIP WITHERSPOON MEAN'S BASKETBALL COACH 271861 0 0 0 0 0 0 0 11504 0 283365 0 0 0 DR SARA R MORRIS VP - ACADEMIC AFFAIRS 199463 0 0 0 1267 0 0 0 67097 0 267827 0 0 0 STEVE K STOUTE PRESIDENT 172732 0 0 0 52653 0 0 0 25112 0 250497 0 0 0 KIMBERLY A VENTI VP - INSTITUTIONAL ADVANCE 150424 0 0 0 944 0 0 0 81109 0 232477 0 0 0 DR DENISE ROTONDO DEAN - SCHOOL OF BUSINESS 175657 0 0 0 0 0 0 0 52055 0 227712 0 0 0 JOHN J HURLEY PRESIDENT - RETIRED 7/1/22 166859 0 0 0 11896 0 0 0 30902 0 209657 0 0 0 TIMOTHY P BALKIN VP - BUSINESS/FINANCE 178441 0 0 0 1743 0 0 0 10062 0 190246 0 0 0 DR JAMES GOLDSTEIN PROFESSOR - ACCOUNTING 163266 0 0 0 0 0 0 0 20620 0 183886 0 0 0 DR JOSEPH O'DONNELL PROFESSOR - ACCOUNTING 167591 0 0 0 0 0 0 0 7844 0 175435 0 0 0 DR IAN J REDPATH PROFESSOR - ACCOUNTING 154576 0 0 0 0 0 0 0 20587 0 175163 0 0 0 DANIELLE IANNI VP - ENROLLMENT MANAGEMENT 155872 0 0 0 219 0 0 0 7264 0 163355 0 0 0 PART 1, LINE 1A: THE UNIVERSITY PAID FOR HEALTH AND SOCIAL CLUB DUES OR COUNTRY CLUB DUES FOR TWO OF THE OFFICERS/HIGHEST COMPENSATED EMPLOYEES LISTED IN PART VII. CANISIUS WILL ONLY REIMBURSE A BUSINESS EXPENSE WHEN ALL THREE OF THE FOLLOWING IRS REQUIREMENTS ARE MET: 1) THE EXPENSE MUST HAVE BUSINESS CONNECTION (I.E., THE EXPENSES MUST BE INCURRED WHILE PERFORMING SERVICES ON BEHALF OF THE UNIVERSITY), 2) THE EXPENSES MUST BE ADEQUATELY SUBSTANTIATED BY THE EMPLOYEE WITHIN A REASONABLE PERIOD OF TIME; AND 3) THE EMPLOYEE MUST RETURN ANY EXCESS REIMBURSEMENT OF ALLOWANCE WITHIN A REASONABLE PERIOD OF TIME. A PORTION OF THESE DUES WERE TAXABLE BASED ON THE PERCENTAGE OF NON-BUSINESS TO BUSINESS USE FOR EACH EMPLOYEE. THE UNIVERSITY "GROSSED UP" THE APPLICABLE NON-BUSINESS EXPENSES AND INCLUDED IN THE EMPLOYEES' W-2 AS ADDITIONAL TAXABLE COMPENSATION. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 000000000 2012-11-09 15162925 REFUND BONDS ISSUED 12/28/2000 0 0 0 B BUFFALO AND ERIE COUNTY INDUSTRIAL LAND DEVELOPMENT CORPORATION 222413596 000000000 2015-10-30 46955000 REFUNDS BONDS ISSUED 3/4/2004, 4/26/2005 AND 12/29/2010 0 0 0 A 15162925 303258 76326 14783341 1 0 1 1 B 46955000 420142 416603 46118255 1 0 1 1 A 0 0 0 0 0 1 0.11510 1 0 B 0 0 0 0 0 0 0 A 0 1 0 0 1 1 M&T TRUST COMPANY 10.000000000000 0 0 0 0 0 B 0 1 0 0 1 0 0 0 0 A 0 B 0 X 18 255577 SALE OF COMPARABLES X MISCELLANEOUS 5 42548 COST 0 0 0 SCHEDULE M, PART I, COLUMN (B): THE NUMBER REPORTED IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT FOR BUSINESS AND FINANCE AND HIS STAFF. THE FORM IS PROVIDED TO THE FULL BOARD, INCLUDING THE AUDIT COMMITTEE AND THE PRESIDENT OF THE UNIVERSITY, IN ADVANCE OF THE FORM BEING FILED WITH THE IRS, ALLOWING TIME FOR REVIEW AND COMMENT BY THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES MUST SUBMIT A WRITTEN FORM ANNUALLY THAT IS REVIEWED BY THE SECRETARY OF THE BOARD OF TRUSTEES AND ANY CONFLICTS OF INTEREST ARE DISCUSSED WITH EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 IN DETERMINING COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL, THE PROCESS INCLUDES HIRING AN INDEPENDENT CONSULTING FIRM, WHO PROVIDES MARKET SURVEYS AND BENCHMARKING TO HELP ASSIST IN THE DECISION MAKING PROCESS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FINAL COMPENSATION AMOUNTS. IN DETERMINING COMPENSATION LEVELS OF OTHER KEY EMPLOYEES, THE UNIVERSITY LOOKS AT MARKET SURVEYS AND BENCHMARKS FROM OTHER AJCU SCHOOLS. THE PRESIDENT DETERMINES AN APPROPRIATE COMPENSATION LEVEL AND REVIEWS IT WITH THE BOARD. FORM 990, PART VI, SECTION C, LINE 18 THE UNIVERSITY'S FORM 990 IS AVAILABLE ON GUIDESTAR.ORG AND UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL INFORMATION AND OTHER DOCUMENTS OPEN FOR PUBLIC DISCLOSURE ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP AGREEMENT 216,782. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.