2024-05-14T16:05:05-05:00 2023-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2022-07-01 231365966 ROSEMONT COLLEGE ROSE 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 CHARLES W STEINMETZ INTERIM VP, FINANCE & ADMIN 6105270200 2024-05-13 1 CHARLES STEINMETZ 999009999 1 KERRI N BOGDA CPA P00760402 7177404863 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JAMES CAWLEY 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 21983336 0 X WWW.ROSEMONT.EDU X 1921 PA ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE & JOY IN PURSUIT OF KNOWLEDGE. 17 17 427 17 0 0 6342517 4900757 15218983 15568272 644501 263218 1189600 389853 23395601 21122100 4839574 3837854 0 0 9502605 8959774 0 0 475031 9642345 9907775 23984524 22705403 -588923 -1583303 50923781 63313774 21273594 33703842 29650187 29609932 X ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE AND JOY IN THE PURSUIT OF KNOWLEDGE. CONTINUED ON SCHEDULE O.ROSEMONT COLLEGE SEEKS TO DEVELOP IN ALL MEMBERS OF THE COMMUNITY OPEN AND CRITICAL MINDS, AS WELL AS THE ABILITY TO MAKE REASONED MORAL DECISIONS. ROOTED IN CATHOLICISM, AND GUIDED BY THE EDUCATIONAL PRINCIPLES OF CORNELIA CONNELLY AND THE SOCIETY OF THE HOLY CHILD JESUS, ROSEMONT COLLEGE VALUES: TRUST IN AND REVERENCE FOR THE DIGNITY OF EACH PERSON, DIVERSITY IN HUMAN CULTURE AND EXPERIENCE, AND PERSISTENCE AND COURAGE IN PROMOTING JUSTICE WITH COMPASSION. 0 0 13898222 3837854 15568272 ROSEMONT COLLEGE WAS FOUNDED IN 1921 AND IS LOCATED IN SUBURBAN PHILADELPHIA. TOTAL STUDENT ENROLLMENT IS 1,001 AS OF JUNE 30, 2023 WITH A STUDENT-TEACHER RATIO OF 12:1 AND AN AVERAGE CLASS SIZE OF 12. THERE ARE THREE SCHOOLS: THE UNDERGRADUATE COLLEGE, THE SCHOOL OF GRADUATE STUDIES, AND THE SCHOOL OF PROFESSIONAL STUDIES. THE UNDERGRADUATE COLLEGE OFFERS A NUMBER OF MAJORS AND ACADEMIC PROGRAMS AWARDING BACHELOR OF ARTS, BACHELOR OF FINE ARTS, AND BACHELOR OF SCIENCE DEGREES. EACH PROGRAM OFFERS AN IN-DEPTH STUDY OF A PARTICULAR SUBJECT AREA AS WELL AS A BREADTH OF STUDY IN THE LIBERAL ARTS.CONTINUED ON SCHEDULE O.THE SCHOOL OF GRADUATE STUDIES OFFERS GRADUATE PROGRAMS THAT AWARD THE MASTER OF BUSINESS ADMINISTRATION, MASTER OF SCIENCE IN MANAGEMENT, MASTER OF ARTS, MASTER OF FINE ARTS, AND THE MASTER OF EDUCATION DEGREES. THE SCHOOL OF PROFESSIONAL STUDIES OFFERS ACCELERATED DEGREE PROGRAMS, CERTIFICATES, AND CORPORATE TRAINING. THE ACADEMIC FOCUS OF THE ACCELERATED DEGREE PROGRAMS IS ON RELEVANT AND PRACTICAL KNOWLEDGE AND TECHNIQUES. SMALL CLASS SIZE AND A SEMINAR ATMOSPHERE COMPLEMENT THE LEARNING EXPERIENCE.GENERAL EDUCATION SCHOLARSHIPS AND FEDERAL AND STATE GRANTS AND SCHOLARSHIPS ARE AWARDED TO STUDENTS. DURING THE YEARS ENDED JUNE 30, 2023, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $3,200,000. 13898222 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 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 0 0 0 0 1 25 0 427 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X X CHARLES W STEINMETZ INTERIM VP 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 MARIA A FEELEY JD CHAIR 5.00 X X 0 0 0 JAMES SCHULTZ VICE CHAIR 1.00 X X 0 0 0 SEAN FITZPATRICK TREASURER 1.00 X X 0 0 0 ANN MARSHALL SECRETARY 1.00 X X 0 0 0 TOM BOCK TRUSTEE 1.00 X 0 0 0 AMY DEANGELO TRUSTEE 1.00 X 0 0 0 ANNE DURNEY GANNON TRUSTEE 1.00 X 0 0 0 CARROLL JULIANO SHCJ TRUSTEE 1.00 X 0 0 0 SANDRA LINCOLN SHCJ TRUSTEE 1.00 X 0 0 0 EILEEN MCDEVITT SHCJ TRUSTEE 1.00 X 0 0 0 ROSEANNE MCDOUGALL SHCJ EDD TRUSTEE 1.00 X 0 0 0 KAREN SANTILLO FIORILLO TRUSTEE 1.00 X 0 0 0 DENNIS SHENBERGER TRUSTEE 1.00 X 0 0 0 MARCIA SICHOL SHCJ TRUSTEE 1.00 X 0 0 0 NEFERTI SICKOUT TRUSTEE 1.00 X 0 0 0 MEGAN SULLIVAN TRUSTEE 1.00 X 0 0 0 GABE RIZZO TRUSTEE 1.00 X 0 0 0 LAURA WHITNEY TRUSTEE 1.00 X 0 0 0 KAMIL ALI-JACKSON TRUSTEE (UNTIL 01/2023) 1.00 X 0 0 0 JAMES F CAWLEY PRESIDENT 40.00 X 159091 0 24162 MARTIN R MEHRINGER VP FIN / ADMIN (UNTIL 11/22/22) 40.00 X 149157 0 20469 MELISSA M NASH-GIBNEY PROVOST 40.00 X 211380 0 11128 MEGHAN J HALEY VP ADM / MKTG 40.00 X 163100 0 19153 JENNIFER MCLEAN TUBEROSA VP INST ADVANCEMENT 40.00 X 163100 0 19142 TIMOTHY KAVANAGH AVP STRATEGIC PARTNERSHIPS 40.00 X 104820 0 31371 JAYSON M BOYERS FORMER PRESIDENT 0.00 X 166018 0 21908 1116666 0 147333 7 1 1 0 ARAMARK MANAGEMENT SERVICE LP 1101 MARKET STREET PHILADELPHIA PA 19107 FACILITIES MANAGEMENT 1371793 PARKHURST DINING SERVICES 285 EAST WATERFRONT DRIVE HOMESTEAD PA 15120 FOOD SERVICE 1294700 JENZABAR PO BOX 845588 BOSTON MA 02284 COMPUTER SERVICES 251919 ASPECT CONSULTING 20109 VALLEY FORGE CIRCLE KING OF PRUSSIA PA 19406 COMPUTER SERVICES 249706 NETRIX COGENTIX PO BOX 7795 CAROL STREAM IL 60197 COMPUTER SERVICES 243584 6 191874 4708883 4900757 STUDENT TUITION AND FEES 611710 11608705 11608705 ROOM AND BOARD-STUDENTS 721310 3959567 3959567 15568272 254513 254513 212621 9964 202657 202657 202657 859977 851272 8705 8705 8705 COMMISSIONS 900099 68483 68483 INSURANCE PROCEEDS 900099 61528 61528 57185 57185 187196 21122100 15568272 0 653071 X 3837854 3837854 348512 237012 99537 11963 6743642 4586126 1926029 231487 229190 155865 65458 7867 1120178 761796 319930 38452 518252 352446 148016 17790 124565 124565 96269 96269 80863 80863 2953287 1028069 1821674 103544 56258 36337 19921 453069 168900 280895 3274 830340 46893 783447 629775 175159 454616 30924 18765 10592 1567 8807 2979 5268 560 1037522 706852 330670 956409 956409 442148 442148 FOOD 1332049 1332049 ATHLETICS 202899 202899 OTHER PROGRAM COSTS 188162 126595 22961 38606 BAD DEBT 164036 164036 320393 157963 162430 22705403 13898222 8332150 475031 793612 670076 822139 172030 2603598 2418617 1162767 2016417 97013 144170 246136 244066 60820923 31613519 28640951 29207404 15479252 16362024 117286 116006 961027 11962964 50923781 63313774 2164454 2028185 645239 631341 16577021 18066519 1000000 1000000 886880 11977797 21273594 33703842 X 7502593 6424331 22147594 23185601 29650187 29609932 50923781 63313774 X -1583303 1568394 -25346 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15273886 16965 1703174 848131 16145894 18341797 156455 -2304585 919781 15273886 17272190 33396 3586025 919781 1630033 18341797 19572863 26564 1142287 1319524 2150000 17272190 18683080 621417 1098309 829943 19572863 0.21700 0.61970 0.16330 0 0 352332 352332 52540920 23868658 28672262 7531548 7348738 182810 396123 396123 0 29207404 BENEFICIAL INTEREST IN PERPETUAL TRUST 740681 SELF-INSURANCE PROGRAM 131335 RIGHT-OF-USE ASSET 11090948 11962964 CAPITAL LEASE PAYABLE 11251800 REFUNDABLE ADVANCES - FROM FEDERAL GOVERNMENT 47247 UNEARNED CONTRACT REVENUE 678750 11977797 X 18912187 1568394 -3788271 -2219877 21132064 -9964 -9964 21122100 18952442 9964 9964 18942478 3762925 3762925 22705403 PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUND CONSISTS OF APPROXIMATELY 65 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. IT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. 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. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUE ON FINANCIALS -3,682,062. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS -80,863. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -25,346. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -9,964. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 9,964. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST REVENUE ON FINANCIALS 3,682,062. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS 80,863. 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 RACIALLY NON-DISCRIMINATORY POLICY IS CLEARLY STATED IN ROSEMONT COLLEGE'S PUBLICATIONS AS WELL AS THEIR COURSE CATALOG AND REGISTRATION MATERIAL. SCHEDULE E, PART I, LINE 6 ROSEMONT RECEIVES A VARIETY OF FEDERAL AND STATE GRANTS, RELATED TO STUDENT AID OR PROGRAM SUBSISTENCE. 1 FINANCIAL ASSISTANCE & SCHOLARSHIPS 369 3682062 N/A N/A ENDOWMENT SCHOLARSHIPS 61 155792 N/A N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPARTMENT OF EDUCATION, THE AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X X X 0 0 0 0 0 0 0 0 0 MELISSA M NASH-GIBNEY PROVOST 211380 0 0 0 0 0 10504 0 624 0 222508 0 0 0 JAYSON M BOYERS FORMER PRESIDENT 166018 0 0 0 0 0 9241 0 12667 0 187926 0 0 0 JAMES F CAWLEY PRESIDENT 159091 0 0 0 0 0 2250 0 21912 0 183253 0 0 0 MEGHAN J HALEY VP ADM / MKTG 163100 0 0 0 0 0 4909 0 14244 0 182253 0 0 0 JENNIFER MCLEAN TUBEROSA VP INST ADVANCEMENT 163100 0 0 0 0 0 4909 0 14233 0 182242 0 0 0 MARTIN R MEHRINGER VP FIN / ADMIN (UNTIL 11/22/22) 149157 0 0 0 0 0 8668 0 11801 0 169626 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD OFFICERS, THE CHAIRS OF THE BOARD'S STANDING COMMITTEES, AND THE PRESIDENT OF THE COLLEGE (EX-OFICIO). THE COMMITTEE MAY ACT FOR THE BOARD ON ALL MATTERS EXCEPT: HIRING OR TERMINATION OF THE PRESIDENT, CHANGE IN INSTITUTIONAL MISSION OR PURPOSE, OR CHANGE IN THE INSTITUTIONAL CHARTER OR ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE TAX FILING WAS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE FINANCE AREA. ONCE A DRAFT IS AVAILABLE, IT IS REVIEWED BY EXECUTIVE LEADERSHIP. BEFORE IT IS FINALIZED AND FILED WITH THE IRS, THE COMPLETE FORM 990 PUBLIC DISCLOSURE COPY WAS PROVIDED TO THE PRESIDENT AND MEMBERS OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO ANNUALLY DISCLOSE TO THE BOARD CHAIR ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST. FACULTY, ADMINISTRATION, AND STAFF ARE REQUIRED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST TO THEIR DEAN OR SUPERVISOR. VIOLATIONS OF THE POLICY ARE HANDLED IN ACCORDANCE WITH THE COLLEGE'S DOCUMENTED DISCIPLINARY PROCEDURES. THE PRESIDENT, PROVOST, AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION ARE JOINTLY RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 TOP MANAGEMENT OFFICIAL AND ALL OFFICER POSITIONS ARE CLASSIFIED AND PAID ACCORDING TO A UNIFORM INTERNALLY-MAINTAINED SCHEDULE. BECAUSE OF BUDGET CONSTRAINTS, MOST ARE PAID BELOW NATIONAL SALARY AVERAGES OF COMPARATIVE RELIGIOUS COLLEGES/UNIVERSITIES ROSEMONT USES CUPA-HR DATA TO VALIDATE SALARY OFFERS TO ENSURE COMPENSATION DOES NOT EXCEED FMV. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 1,028,069. MANAGEMENT AND GENERAL EXPENSES 1,821,674. FUNDRAISING EXPENSES 103,544. TOTAL EXPENSES 2,953,287. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -25,346.