2024-04-25T09:56:27-07:00 2023-06-30 990 2022-07-01 260466209 MORAVIAN COLLEGE HOUSING INC MORA 6108611300 1200 Main Street Bethlehem PA 18018 Mark Reed VP Finance & Administration 6108611312 2024-04-25 Mark Reed 999009999 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z Mark Reed 1200 Main Street Bethlehem PA 18018 2265215 0 X X 2007 PA The mission of Moravian College Housing is to provide charitable, housing, educational and scientific opportunities to students of Moravian University 5 2 0 5 0 0 6055 0 2140589 2256959 1550 8256 744 0 2148938 2265215 306500 255000 0 0 0 0 0 0 0 1697009 1761548 2003509 2016548 145429 248667 17436598 17524966 18572050 17849976 -1135452 -325010 The Mission of Moravian College Housing is to provide charitable, housing, educational and scientific opportunities to students of Moravian University. 0 0 2016548 255000 2256959 Program expenses consists of occupancy and maintenance costs incurred in providing housing to the residents of Moravian College Housing. The program provided housing, education, access to dining, entertainment and transportation to its residents in an integrated living and learning community. The facility's maximum capacity for the fiscal year ended 6/30/2023 is 235. The number of residents were 225 and 204 for the Fall 2022 and Spring 2023 semesters respectively. Occupants include undergraduate and graduate students and a Student Affairs Director. 0 0 0 2016548 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 PA X Mark F Reed 6108611300 1200 Main Street Bethlehem PA 18018 Bryon Grigsby Board Co-Chair; MCHI President 1 40 X X 0 516645 72802 Nicole Loyd MCHI Vice President 1 40 X X 0 200690 25588 Mark Reed Board Treasurer; MCHI Treasurer 1 40 X X 0 208120 18107 Brian Oswald Board Co-Chair 0.5 2 X X 0 0 0 Ray S Bishop Jr Board Vice Chair 0.5 2 X X 0 0 0 0 925455 116497 0 0 1 0 0 Student Rents 532000 2122364 2122364 0 0 Moravian University Rental Income 532000 134595 134595 0 0 0 0 0 0 2256959 8256 0 0 8256 0 0 0 0 0 0 0 0 0 0 0 0 0 2265215 2256959 0 8256 0 0 255000 255000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 501665 501665 0 0 0 0 0 0 0 0 0 0 0 0 0 0 547849 547849 0 0 0 0 0 0 712034 712034 0 0 0 0 0 0 0 0 0 0 2016548 2016548 0 0 1481846 1507972 927033 1085289 0 0 37365 0 0 0 0 0 0 0 0 0 0 0 18644659 4505668 14660620 14138991 0 0 0 0 0 0 311139 167847 18595 624867 17436598 17524966 174198 224905 0 0 821231 770952 15962492 15239990 0 0 0 0 0 0 0 0 1614129 1614129 18572050 17849976 X -1135452 -325010 0 0 -1135452 -325010 17436598 17524966 X 248667 0 0 0 0 561775 X 1 X 1 X 1 0 X 0 0 31654 6055 0 37709 2001849 2119258 1760189 2140589 2256958 10278843 0 0 0 744 0 744 0 0 0 0 0 0 0 0 0 0 0 0 2001849 2119258 1791843 2147388 2256958 10317296 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10317296 9495 9553 990 1550 8256 29844 0 0 0 0 0 0 9495 9553 990 1550 8256 29844 0 0 0 0 0 0 0 0 0 0 0 0 2011344 2128811 1792833 2148938 2265214 10347140 0.99712 0.99759 0.00288 0.00241 X 0 0 0 0 18274156 4173403 14100753 0 0 0 0 0 370503 332265 38238 0 0 0 0 14138991 0 Loan Payable to Moravian University 1614129 1614129 X 2843733 0 25000 0 561774 586774 2256959 0 8256 8256 2265215 2033292 25000 0 0 0 25000 2008292 0 8256 8256 2016548 Schedule D, Part X, Line 2 Moravian College Housing Inc financial statements are reported in consolidation with Moravian University. Moravian University and MCHI qualify as tax-exempt, nonprofit organizations under Section 501(c)(3) of the Internal Revenue Code. Accordingly, there is no provision for federal or state income taxes. Moravian University and MCHI account 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 that there were not tax uncertainties that met the recognition threshold at June 30, 2023 and 2022. Schedule D, Part XI, Line 2d Unrealized gain on change in interest rate SWAP value Schedule D, Part XI, Line 4b Other revenue is interest income on bank savings accounts and certificates of deposit. Schedule D, Part XII, Line 4b Financial statement expenses were reported net of interest income earnings from bank savings and certificate of deposit accounts. 1 Housing Grant 102 255000 0 Actual Schedule I, Part I, Line 2 Grants were awarded toward room charges. Moravian University Student Accounts office maintains students account records including room charges. The grants were applied directly to the student's account. Moravian University remits room charge billings net of the applied grants directly to MCHI. This is an aggregate total for the current year return. For the previous fiscal year (2021) return, this amount was stated as an individual grant amount, not an aggregate total. 0 1 0 0 0 0 0 0 0 Bryon Grigsby Board Co-Chair; MCHI President 0 414332 0 97089 0 5224 0 24400 0 48402 0 589447 0 0 Mark Reed Board Treasurer; MCHI Treasurer 0 206972 0 0 0 1148 0 16637 0 1471 0 226228 0 0 Nicole Loyd MCHI Vice President 0 200430 0 0 0 260 0 16200 0 9389 0 226279 0 0 Schedule J, Part I, Line 4 Dr. Bryon Grigsby (MCHI Board Co-Chair & Moravian University President) participates in a supplemental 457b non-qualified plan through Moravian University, a related organization. A Northampton Cty Industrial Development Authority 236299984 NoneAvail 2017-08-02 9513396 Refund half of prior issue. Issue Date 09/03/2009 0 0 0 B Northampton Cty Industrial Development Authority 236299984 NoneAvail 2017-08-18 9513396 Refund half of prior issue. Issue Date 9/3/2009 0 0 0 A 1893401 0 9513396 0 0 0 0 0 0 0 9513396 0 2017 1 0 1 1 B 1893401 0 9513396 0 0 0 0 0 0 0 9513396 0 2017 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 0 1 0 1 1 Fulton Bank (formerly Lafayette Ambassador Bank) 14 0 0 0 0 1 B 0 0 1 0 1 1 Fulton Bank (formerly Lafayette Ambassador Bank) 14 0 0 0 0 1 A 1 B 1 Mark F Reed Officer of Moravian University 659114 See Part V 0 Bryon Grigsby Officer/Director of Moravian University 0 See Part V 0 Nicole Loyd Key Employee of Moravian University 0 See Part V 0 Schedule L, Part I, Line 1 Grigsby is an Officer/Director of Moravian University. Reed is an Officer of Moravian University. Loyd is a Key Employee of Moravian University and all are board members of Moravian College Housing, Inc. The following transactions occurred between Moravian University and Moravian College Housing Inc. The aggregate amounts are reported once in Part IV, line 1 (c). $40,000 interest expense on a note payable to Moravian University. $601,680 service level agreement for 2022/2023, $100,000 of this was payable at 6/30/22. $50,279 lease of classrooms to Moravian University (reduce University prepaid expense and MCHI deferred revenue). $123,029 reimburse Moravian University for cooling tower repairs and capital improvement project costs. ($155,874) was remitted to MCHI from Moravian University for room rentals ($149,819) and ($6,055) gifts receivable as of 6/30/2022. Form 990, Part VI, Section B, Line 11b Form 990 is prepared by Moravian University. The 990 is submitted for review to Moravian University's Vice President for Finance and Administration. The Audit Committee reviews the 990 and submits to the MCHI Board of Directors. After review, if the MCHI Board of Directors is satisfied with the accuracy and presentation of Form 990, they recommend to the Audit Committee that it be submitted to the Joint Board for final approval. If approved, the MCHI Board Treasurer will sign and file the return with the proper authorities. Form 990, Part VI, Section B, Line 12c All board/committee members are required to submit a conflict of interest survey detailing all conflicts of interest with the Organization annually. The surveys are submitted to the Moravian University VP for Finance and Administration for review. If it is determined that there is a conflict, the Board of Directors reviews the conflict for materiality. If the Board of Directors determines that the conflict would impair the Board Member from acting impartially, the Board member will be asked to rescind their position on the Board. If it is determined that the conflict is minor in nature, the Board member will be required to refrain from voting on any measure associated with the conflict. Form 990, Part VI, Section C, Line 19 Financial statements, governing documents and conflict of interest policy are open to the public upon request. Form 990, Part XI, Line 9 Unrealized gain on change in interest rate swap. Moravian University 1200 Main Street Bethlehem PA 18018 240795460 Post secondary education-private 4 year college PA 501 (c) (3) 2 N/A 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 1 0 1 1 Moravian University e 1000000 Moravian College Housing had a $1 million note payable to Moravian University. As part of Moravian University's purchase of MCHI on 12/10/2015, the note was restructured at a lower interest rate. MCHI began paying interest on the note during the fiscal year ended 6/30/2019. $40,000 is paid annually in quarterly installments. No payment has been made on the principal. Moravian University j 50279 Moravian University's lease agreement (beginning 2009) to lease classroom space from MCHI was paid in full in 2015. MCHI recongizes a portion of that lease payment as revenue annually for the remainder of the lease period ending in 2038. Moravian University m 601680 Moravian College Housing, Inc and Moravian University have entered into a Service Level Agreement in which MCHI pays a flat quarterly fee to Moravian University for, but not limited to, general maintenance and repairs related to MCHI facility and grounds, legal and accounting services. Capital projects are excluded from the Service Level Agreement. The fee is increased annually based on the change in room rates or 5%, whichever is greater. For 22/23, four quarterly payments of $80,420 were paid plus an additional $180,000 to cover costs in excess of the service level agreement. $100,000 was also paid in 22/23 for an amount payable at 6/30/2022. Moravian University p 123029 Moravian University incurred capital project costs of $123,029 on behalf of MCHI. Capital project costs are outside the scope of the Service Level Agreement. Current year costs totalled $91,611 and $31,418 was incurred in the prior year but was not reimbursed until the 2022/2023 fiscal year. Moravian University r 40000 Moravian College Housing had a $1 million note payable to Moravian University. As part of Moravian University's purchase of MCHI on 12/10/2015, the note was restructured at a lower interest rate. MCHI began paying interest on the note during the fiscal year ended 6/30/2019. $40,000 is paid annually in $10,000 quarterly installments. No payment has been made on the principal. Moravian University s 155874 Funds totalling $155,874 were collected by Moravian University on behalf of MCHI. ($17,301 from outside organizations room rentals, $132,518 from student summer room rentals and $6055 for gifts.) This includes $85,419 current year revenues, $31,310 accrued revenues receivable at 6/30/2022, $33,090 remitted for July 2023 deferred revenues and $6,055 gifts receivable at 6/30/2022.