2024-03-07T10:49:24-07:00 2023-05-31 990 2022-06-01 231352620 ARCADIA UNIVERSITY ARCA 2155722900 450 S Easton Road Glenside PA 19038 Joan Singleton VP Finance 2155722943 2024-03-07 Joan Singleton 999009999 1 1 11 1 AAL2 2022 2023-04-26 12:10:37Z Joan Singleton 450 S Easton Road Glenside PA 19038 181657000 0 X www.arcadia.edu X 1853 PA Arcadia University provides a distinctively global, integrative, and personal learning experience for intellectually curious undergraduate and graduate students in preparation for a life of scholarship, service, and professional contribution. 21 20 981 806 113404 70596 13674000 5690000 132892000 145646000 4388000 3123000 1402000 916000 152356000 155375000 44022000 45686000 0 0 53045000 55757000 0 0 1596000 53405000 60090000 150472000 161533000 1884000 -6158000 251087000 238015000 98522000 97177000 152565000 140838000 Arcadia University's pioneering, global, integrated, liberal arts, and professional learning experience cultivates leaders who are intellectually fearless and uniquely prepared for life and work. Our highly regarded, values-based learning community reflects the world in which we want to live. 0 0 90226000 42132000 101882000 Arcadia University offers a high-quality liberal arts education. Students choose from over 65 major fields of study in the sciences, health sciences, education, arts and humanities, and business earning their bachelor's, master's, professional certificates, and doctoral degrees. 99% of Arcadia's full-time undergraduate students receive financial assistance in the form of grants and scholarships. Arcadia also offers students academic support programs, including the Gateway to Success program, which includes ACT101 services for PA residents who qualify. Students receive personal attention and resources throughout the academic year to help them succeed. 28028000 615000 31443000 Arcadians are driven to seek, experience, and understand broad and varied perspectives, preparing them to thrive in an interconnected world. Arcadia Univerity is distinct in that our undergraduate and graduate students engage in real-world learning opportunities, including internships, evidence-based research, service learning, multi-disciplinary and experiential learning that expands beyond the classroom. The Arcadia Undergraduate Curriculum (AUC) ensures immersion with global issues through study abroad or domestic programming. Arcadia continues to rank nationally for study abroad participation and provides one of the most extensive University study abroad programs in the nation. Our global programs continue to educate over 3,000 undergraduate students from U.S. institutions every year. 11316000 2939000 12321000 We believe that living in close proximity to people from different backgrounds is a critically important way for students to learn important life skills, and we treat residential life as an important opportunity for learning. Our desire is to ensure that students' living arrangements support and enhance their educational work and goals. While our primary goal is to provide safe living environments conducive to study and academic success, we encourage and support the development of the following core competencies in our students: diversity and inclusion; global perspectives; civic engagement; citizenship; self-advocacy; problem-solving; respect for others; and the development of identity, purpose, and integrity. Within the residence halls and apartments, an engaged team of professional and paraprofessional staff use the physical structure of the living environment as a tool to maximize learning moments and challenge students to develop and apply these competencies. 0 0 0 129570000 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 718 0 981 1 0 1 AS EI IT NZ SF SP UK 0 0 0 1 1 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA ME NJ NY PA TX X X Joan Singleton - VP Finance 2155722943 450 S Easton Road Glenside PA 190383295 Ajay Nair President 40 X X 486737 0 144178 Joan Singleton Vice President for Finance and Treasurer 40 X 310888 0 102673 Jeffrey Rutenbeck Vice President for Academic Affairs and Provost 40 X 295083 0 37379 Brigette Bryant Vice President for Advancement 40 X 263053 0 33620 Margaret Callahan General Counsel and Secretary of the University 40 X 250674 0 36801 Rankan Hall Vice President for Enrollment Management 40 X 208193 0 51828 Mary Sweeney VP of Human Resources and Employee Experience 40 X 207871 0 37908 Andrew Law Dean and Executive Director of the College of Global Studies 40 X 183286 0 35458 Rashmi Radhakrishnan Vice President for IT and CIO 40 X 194640 0 16555 Laura Baldwin Vice President for Marketing and Communications 40 X 165729 0 35811 Lisa Donatelli TCGS COO, Risk Management, Compliance 40 X 178871 0 20295 Rebecca Kohn Dean Vice Provost Academic Planning and Faculty 40 X 164064 0 29877 Rebecca Craik Dean - College of Health Science 40 X 173061 0 14105 Philip McClure Professor 40 X 158525 0 25001 Aliyah Abraham Trustee 5 X 0 0 0 Allison Rossett Trustee 5 X 0 0 0 Ashish Parmar Trustee 5 X 0 0 0 Danny Shoy Jr Trustee 5 X 0 0 0 David A Sadoff Trustee 5 X 0 0 0 Elliott A Roth Trustee 5 X 0 0 0 Gretchen Santamour Vice Chair 8 X X 0 0 0 J Wesley Hardin Trustee 5 X 0 0 0 Jacqueline L Cannon Trustee 5 X 0 0 0 John Rollins Chair 12 X X 0 0 0 Kenneth C Weirman Trustee 5 X 0 0 0 Kevin Shollenberger Trustee 5 X 0 0 0 Maggie Lyons Trustee 5 X 0 0 0 Marc Walsh McKenna Trustee 5 X 0 0 0 Michel Paul Trustee 5 X 0 0 0 Nancy Glass Trustee 5 X 0 0 0 Pat Cornet Trustee 5 X 0 0 0 Peri Higgins Trustee 5 X 0 0 0 Ronald J Eicholtz Trustee 5 X 0 0 0 Sara Lomax Reese Trustee 5 X 0 0 0 3240675 0 621489 69 0 1 0 Metz Culinary Management 2 Woodland Drive Dallas PA 18612 Dining Services 3214822 The Arthur Jackson Company 7025 West Chester Pike Upper Darby PA 19082 Facilities Management 544000 Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Fundraising & Enrollment 429986 East Brandywine Mechanical 114 Governors Circle Downingtown PA 19335 Facilities Management 413395 Fieldturf USA Inc 175 N Industrial Blvd NE Calhoun GA 30701 Construction 395434 17 0 0 12000 0 2360000 3318000 182000 5690000 Tuition & Fees 611310 101882000 101882000 0 0 International Programs 611310 31443000 31443000 0 0 Room & Board 611310 12321000 12321000 0 0 0 0 0 0 145646000 2340000 0 113404 2226596 0 0 0 0 0 0 0 0 194000 0 63000 0 131000 0 131000 0 0 131000 26976000 0 26193000 0 783000 0 783000 0 0 783000 24000 12000 26000 -2000 0 -2000 Comm, Fees, & Indirect Grant Rev & Misc 611310 499000 0 0 499000 Health Services Partner 611310 239000 0 0 239000 Food/Vend/Bookstore Commissions 611310 49000 0 0 49000 0 0 0 0 787000 155375000 145646000 113404 3925596 0 0 44356000 44356000 1330000 1330000 0 0 2604000 1044000 1236000 324000 0 40807000 29946000 10289000 572000 2178000 1466000 688000 24000 6847000 4545000 2099000 203000 3321000 2371000 881000 69000 0 0 0 0 455000 0 455000 0 289000 0 289000 0 0 0 0 0 0 0 181000 181000 11701000 7959000 3455000 287000 255000 158000 97000 0 106000 74000 24000 8000 2009000 677000 1329000 3000 0 0 0 0 4037000 936000 3097000 4000 2400000 1867000 512000 21000 276000 209000 62000 5000 2591000 2143000 448000 0 0 0 0 0 5656000 4542000 1114000 0 1797000 41000 1756000 0 International Programs Tuition 12379000 12379000 0 0 International Programs Housing 5702000 5702000 0 0 Supplies-Other 5523000 4859000 610000 54000 Other Expenses 2630000 2391000 239000 0 2103000 575000 1506000 22000 161533000 129570000 30367000 1596000 32000 13000 40050000 28437000 1090000 1514000 5764000 4562000 0 0 0 0 776000 1189000 35000 48000 1672000 2772000 256811000 132677000 117816000 124134000 71908000 61897000 6760000 6802000 0 260000 4924000 6647000 251087000 238015000 11507000 11163000 0 0 11455000 12767000 68921000 65241000 0 0 0 0 0 0 0 0 6639000 8006000 98522000 97177000 X 107904000 97500000 44661000 43338000 152565000 140838000 251087000 238015000 X -6158000 -5728000 0 0 0 159000 X 0 1 X 1 1 1 X 3599000 3595000 7169000 13674000 5690000 33727000 0 0 0 0 0 0 0 0 0 0 0 0 3599000 3595000 7169000 13674000 5690000 33727000 0 33727000 3488000 1922000 777000 453000 2420596 9060596 0 0 0 0 0 0 701000 647000 1334000 601000 787000 4070000 46857596 705044000 0.71978 0.70452 X Schedule A, Part II, Line 10 2018 -- Commissions (155,000) and Indirect Revenue from Grants, PNC Commissions and Fees (546,000); 2019 -- Commissions (142,000) Indirect Revenue from Grants, PNC Commissions and Fees (505,000); 2020 -- Commissions (43,000), Indirect Revenue from Grants, PNC Commissions, Fees and Miscellaneous (1,291,000); 2021 -- Commissions (42,000), Indirect Revenue from Grants, PNC Commissions, Fees and Miscellaneous (559,000); 2022 -- Commissions (49,000), Indirect Revenue from Grants, PNC Commissions, Fees and Miscellaneous (499,000), Health Services Partner (239,000) RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X 0 84484000 1515000 -4174000 1178000 12673000 181000 67793000 97190000 934000 -6837000 2790000 3764000 249000 84484000 79338000 820000 23098000 1357000 4481000 228000 97190000 70402000 10252000 2139000 1721000 1520000 214000 79338000 71792000 647000 99000 962000 888000 286000 70402000 0.44 0.36 0.2 1 0 0 3686000 3686000 0 177214000 72010000 105204000 0 0 0 0 0 56416000 49207000 7209000 0 19495000 11460000 8035000 124134000 0 Operating Lease Obligation 5203000 Annuities Payable 232000 Accrued Post-Retirement Obligation 1790000 Asset Retirement Obligation 548000 Refundable Loan Funds 233000 8006000 X 104028000 -5728000 0 0 -45708000 -51436000 155464000 0 -89000 -89000 155375000 115755000 0 0 0 89000 89000 115666000 0 45867000 45867000 161533000 Schedule D, Part III, Line 1 The University art collection consists of various pieces of art displayed throughout the campus. Some pieces are archived for future exhibition. Schedule D, Part III, Line 4 The University art collection consists of various pieces of art displayed throughout campus which are used to enhance student appreciation of fine art. Some pieces are stored for future exhibition. Schedule D, Part V, Line 4 The University's endowment funds are used to provide a source of operating funds as well as long term financial stability. Schedule D, Part X, Line 2 The University follows the Financial Accounting Standards Board ("FASB") guidance that requires a tax position to be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The University does not believe its financial statements include any uncertain tax positions. The University's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. No interest or penalties were recognized in 2023 and 2022. The University's federal tax exempt business income tax returns for 2022, 2021, and 2020 remain subject to examination by the Internal Revenue Service. Schedule D, Part XI, Line 2d Financial Aid Assistance (-45,686,000), Investment Expense (-181,000), Change in benefit obligation (159,000) Schedule D, Part XI, Line 4b Rental Expense (-63,000); Fundraising Expense (-26,000) Schedule D, Part XII, Line 2d Rental Expense (63,000); Fundraising expense (26,000) Schedule D, Part XII, Line 4b Financial Aid Assistance (45,686,000); Investment Expenses (181,000) 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 We include a notice of our policies on all of our publications, advertisements, and internet website. Schedule E, Part I, Line 6 Arcadia University participates in Federal Title IV aid programs, including the federal Campus-Based Aid Programs. As such, we receive, on an annual basis, allocations to make federal work study awards and SEOG Grants to students. Additionally, our educational programs are recognized as eligible programs by the state of Pennsylvania. As such, we award PHEAA State Grants to our eligible students from PHEAA (Pennsylvania Higher Education Assistance Agency), and also receive Federal Work Study matching funds from PHEAA. Additionally, on an annual basis, PHEAA provides a matching grant known as the IAG Grant for each eligible state grant student we award PHEAA funds to as well. 1 Europe (including Iceland and Greenland) 5 31 Program Services Study Abroad Education 19438000 East Asia and the Pacific 2 7 Program Services Study Abroad Education 3695000 Sub-Saharan Africa 1 1 Program Services Study Abroad Education 222000 8 39 23355000 Scholarship/Grant Europe (including Iceland and Greenland) 77 1118000 Credit placed on student account Cost Scholarship/Grant East Asia and the Pacific 20 212000 Credit placed on student account Cost 1 0 1 0 0 0 Schedule F, Part I, Line 2 All grants and scholarships awarded to students are credited directly to the student's billing account and no funds actually leave the United States. Schedule F, Part IV, Line 1 The organization transferred funds to foreign corporations but the amounts did not exceed the threshold for reporting on Form 926. Schedule F, Part IV, Line 3 The organization invests in foreign corporations but its investments do not exceed the threshold for filing foreign forms such as Form 5471. Arcadia Golf Outing 36000 12000 24000 0 0 21000 0 0 5000 0 0 36000 12000 24000 0 0 21000 0 0 5000 26000 -2000 1 Student Work Programs (Federally Subsidized) 774 475000 Student Work Programs (Institutional) 240 663000 Institutional Scholarships & Grants 1993 43217000 Cost Credit placed on student account Schedule I, Part I, Line 2 Arcadia University awards both need-based and merit-based aid to students in good academic standing. The University maintains records to quantify the dollar amount of the financial assistance awarded, the number of recipients per grant/scholarship, and the selection criteria. All grants and scholarships awarded to students are credited directly to the students' billing accounts. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Ajay Nair President 486737 0 0 0 1047 0 24400 0 117000 0 629184 0 0 0 Joan Singleton Vice President for Finance and Treasurer 310888 0 0 0 2178 0 19193 0 83479 0 415738 0 0 0 Jeffrey Rutenbeck Vice President for Academic Affairs and Provost 295083 0 0 0 3168 0 24000 0 13379 0 335630 0 0 0 Brigette Bryant Vice President for Advancement 263053 0 0 0 2624 0 20317 0 13303 0 299297 0 0 0 Margaret Callahan General Counsel and Secretary of the University 250674 0 0 0 2624 0 14429 0 22372 0 290099 0 0 0 Rankan Hall Vice President for Enrollment Management 208193 0 0 0 500 0 17472 0 34356 0 260521 0 0 0 Mary Sweeney VP of Human Resources and Employee Experience 207871 0 0 0 1331 0 13743 0 24165 0 247110 0 0 0 Andrew Law Dean and Executive Director of the College of Global Studies 183286 0 0 0 1212 0 1900 0 33558 0 219956 0 0 0 Rashmi Radhakrishnan Vice President for IT and CIO 194640 0 0 0 432 0 15441 0 1114 0 211627 0 0 0 Laura Baldwin Vice President for Marketing and Communications 165729 0 0 0 580 0 13843 0 21968 0 202120 0 0 0 Lisa Donatelli TCGS COO, Risk Management, Compliance 178871 0 0 0 549 0 13263 0 7032 0 199715 0 0 0 Rebecca Craik Dean - College of Health Science 173061 0 0 0 5017 0 13480 0 6972 0 198530 0 0 0 Rebecca Kohn Dean Vice Provost Academic Planning and Faculty 164064 0 0 0 589 0 13567 0 16310 0 194530 0 0 0 Philip McClure Professor 158525 0 0 0 1467 0 12544 0 12457 0 184993 0 0 0 Schedule J, Part I, Line 1a The President of the University is required, as a condition of employment, to live in a house owned by the University. This house is also used to host University-related functions. This benefit was not included in taxable compensation as it qualifies for exclusion under Internal Revenue Code Section 119(d) due to being required as a condition of employment, for the convenience of the employer, and being on the University campus. A Montgomery County Higher Education & Health Authority 232447147 613603SZ3 2013-12-05 19721786 Funding of Capital Projects and refunding of 2001 bonds 0 0 0 B Montgomery County Higher Education & Health Authority 232447147 613603UZ0 2015-06-25 34806870 Advance refunding of Series 2006 bonds 0 0 0 C Montgomery County Higher Education & Health Authority 232447147 613603VM8 2016-01-05 10589701 Current refunding of Second Series 2006 bonds 0 0 0 D Montgomery County Higher Education & Health Authority 232447147 613603D89 2020-02-19 21832031 Advance refunding of Series 2010 Bonds 0 0 0 A 4640000 0 19719978 0 490805 0 290130 0 0 14801211 4900000 0 2019 1 0 1 1 B 9905000 0 35077824 0 0 0 444720 0 0 0 34362149 0 2016 1 0 1 1 C 3630000 0 10612909 0 0 0 211021 0 0 0 10378630 0 2016 1 0 1 1 D 1285000 0 23832031 0 0 0 324278 0 0 0 21507753 0 2020 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 C 0 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part IV, Line 2c-12/05/2013 19,721,786 Montgomery County This bond issue did not owe any rebate upon its first computation date. It is after the first and before the second computation date and therefore no rebate is due at this time. Schedule K, Part IV, Line 2c-06/25/2015 34,806,870 Montgomery County This bond issue did not owe any rebate upon its first computation date. The computation was completed 7/15/2020. It is after the first and before the second computation date and therefore no rebate is due at this time. Schedule K, Part IV, Line 2c-01/05/2016 10,589,701 Montgomery County This bond issue did not owe any rebate upon its first computation date. The computation was completed 1/26/2021. It is after the first and before the second computation date and therefore no rebate is due at this time. Employees Employees 161217 Employee Tuition Discount Employee Benefit X 8 182000 NYSE 0 0 1 0 Schedule M, Part I, Line 33 The number in column B represents the total number of contributions received. Form 990, Part VI, Section B, Line 11b An internal review of the completed 990 is performed before it is provided to our independent tax accountants for review. Once that process is completed, the Audit Committee of the Board of Trustees reviews and accepts the 990. The 990 is made available to the Board of Trustees via our internal web portal for review before filing. Board members may access the Form 990 in a special section set aside for the Board. Form 990, Part VI, Section B, Line 12c The Trustees and Executive Senior Managers of the University are required to complete Conflict of Interest statements. The Chair of the Audit Committee of the Board of Trustees (Board) ensures that the statements are completed on an annual basis. If any conflicts arise, such as from family or business relationships, the Audit Committee of the Board may either make a determination, or, if the Audit Committee believes it is appropriate, may refer the matter to the full Board for a vote to determine if a conflict exists. If a determination is made that no conflict exists, the interested trustee may participate fully in any discussions and vote on the proposed transaction or arrangement that is the subject of the conflict. If a determination is made that a conflict of interest exists, the interested trustee shall be required to leave any meeting prior to discussion of, or vote on, the transaction or arrangement. Form 990, Part VI, Section B, Line 15 The Executive Committee of Board of Trustees oversees compensation of the President. All discussions about compensation are documented in the Board minutes. The University uses comparability data from peer institutions collected by the College and University Professional Association for Human Resources (CUPA HR), as well as conducts a review of internal equity among executives, in determining the compensation of all other officers and key employees. This data is used to ensure all salaries are within "fair market range" for the industry. Form 990, Part VI, Section C, Line 19 The University's governing documents, conflict of interest policy and financial statements are available to the public upon request. Form 990, Part XI, Line 9 Change in benefit obligation - 159,000