2024-11-12T20:36:44+00:00 2023-12-31 346565596 ERNST & YOUNG US LLP 731 K Street SACRAMENTO CA 95814 990 2023-01-01 942992642 Samuel Merritt University SAMU 9162866665 450 30TH STREET SUITE 2840 OAKLAND CA 94609 CHING-HUA WANG president 2024-11-13 true Tamara Sugihara P01262399 9162181900 2024-11-13 2023 2024-10-15 13:58:12Z CHING-HUA WANG 450 30TH STREET SUITE 2840 OAKLAND CA 94609 113903074 false X WWW.SAMUELMERRITT.EDU X 1984 CA Samuel Merritt University educates students to become highly skilled and compassionate health care professionals who positively transform the experience of care in diverse communities. 17 16 989 51 0 0 13009436 8137086 90452466 91453088 54589377 12645105 2449413 1667795 160500692 113903074 7427300 8956586 0 0 59011045 61640135 0 1668410 30983190 37022083 97421535 107618804 63079157 6284270 530281236 566034361 261535441 270054587 268745795 295979774 SAMUEL MERRITT UNIVERSITY EDUCATES STUDENTS TO BECOME HIGHLY SKILLED AND COMPASSIONATE HEALTH CARE 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16295209 4181749 24064502 18186611 5877891 63283041 63283041 73342681 Lease ROU 100949030 100949030 FEDERAL STUDENT LOAN FUNDS 6216267 OPERATING LEASE LIABILITIES 103855361 OTHER LIABILITIES 1024263 111095891 X 119487795 19278709 0 0 0 19278709 100209086 6408402 8956586 15364988 115574074 92253816 0 0 0 0 0 92253816 6408402 8956586 15364988 107618804 Schedule D, Part V, Line 4 Intended uses of endowment funds The endowments are used as scholarships or grants for students attending the university. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code (Code), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The University has also been recognized by the California Franchise Tax Board as exempt from California franchise and income taxes under Section 23701(d) of the California Revenue and Taxation Code. The University has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The University follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is more-likely-than-not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The University has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS AND RELATED EXPENSES - 8956586 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS AND RELATED EXPENSES - 8956586 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES AND APPLICATIONS. true AFFINITY 24 95360 AFFINITYDR 25 91083 CLE-KP 21 267750 Dean Scholarship 94 235000 FNPAYP 123 285334 The Hope Scholarship 23 113333 The Hope BSN Scholarship 216 989000 President Podiatry Scholarship 19 100000 Regents 3 25000 RN-BSN SCH/RNBSN-KP (Kaiser Sch) 234 1208589 SUTTER NRS 54 424873 Samuel Merritt Scholarship 479 1887000 SMU Alumni 76 205208 SMUALUMNFNP 56 230704 Special Purpose Scholarship 445 780303 Endowment Fund Scholarship 451 1243239 HCAI Psych Mental Health Grant 15 300000 Medical Social Work Scholarship HCAI 17 56678 NWD 32 283096 Psych Mental Health Scholarship 24 47318 SMU Faculty Benefit Scholarship 10 87718 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. STUDENT FINANCIAL AID APPLICATIONS ARE REVIEWED ANNUALLY IN ORDER TO ENSURE GRANT FUNDS ARE AWARDED APPROPRIATELY BASED ON THE INDIVIDUAL AWARD CRITERIA. X true true X X X X X false true false false false false false true false Ching-Hua Wang President 747886 0 100000 0 60660 0 38559 0 0 0 947105 0 0 0 Dave Lawlor Executive Vice President & Treasurer 578613 0 200000 0 2622 0 21789 0 29730 0 832754 0 0 0 Al Frisone VP for University Advancement & Communications 356387 0 150000 0 3032 0 29473 0 27394 0 566286 0 0 0 Emily Prieto-Tseregounis Chief of Staff, VP of Exernal Affairs 252630 0 50000 0 503 0 19904 0 16982 0 340019 0 0 0 Celeste G Villanueva Assistant Academic VP 303239 0 0 0 7983 0 16967 0 0 0 328189 0 0 0 Brian Clocksin Provost Executive Vice President, Academic/Student Affairs (Pt-Yr) 261939 0 0 0 1173 0 2827 0 20582 0 286521 0 0 0 Evaon Wong-Kim Dean of Health Sciences 233258 0 0 0 3302 0 16342 0 1393 0 254295 0 0 0 Eric Stamps Dean 230323 0 0 0 3176 0 16123 0 0 0 249622 0 0 0 Lorna D Kendrick Dean of Nursing (Pt-Yr) 197580 0 0 0 2047 0 7081 0 3302 0 210010 0 0 0 Timothy Cranford VP for Student Affairs (Pt-Yr) 178671 0 0 0 1395 0 12710 0 16008 0 208784 0 0 0 Joseph J Janakes Program Director 301020 0 0 0 8273 0 15213 0 24129 0 348635 0 0 0 Kevin A Hamby Assistant Professor 288450 0 0 0 7809 0 20480 0 27394 0 344133 0 0 0 Orophenia Bollinger Assistant Professor 248496 0 0 0 1232 0 16348 0 28447 0 294523 0 0 0 Steven Rush Dean of Nursing 255013 0 0 0 2165 0 16449 0 0 0 273627 0 0 0 Daniel Bell Assistant Professor 245421 0 0 0 515 0 12271 0 0 0 258207 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use Housing Allowance for VP for University Advancement and Communications, treated as taxable compensation to the individual. Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation SUPPLEMENTAL COMPENSATION INFORMATION: THE EXECUTIVE COMMITTEE OF THE SAMUEL MERRITT UNIVERSITY BOARD OF REGENTS RETAINS ULTIMATE DISCRETIONARY AUTHORITY OVER ALL ELEMENTS OF COMPENSATION TO ASSURE THAT ORGANIZATIONAL PURPOSES ARE APPROPRIATELY BEING SERVED. THE EXECUTIVE COMMITTEE USES CREDIBLE DATA SOURCES AND MAINTAINS AN OBJECTIVE "ARM'S LENGTH" DECISION-MAKING PROCESS, ENSURING THE INTEGRITY OF THE UNIVERSITY'S EXECUTIVE PROGRAMS AND CONSISTENCY WITH THE ORGANIZATION'S OVERALL MISSION. SEE SCHEDULE O NARRATIVE FOR PART VI, LINE 15 FOR A FULL DESCRIPTION OF THE COMPENSATION APPROVAL PROCESS COMPLETED BY SAMUEL MERRITT. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The University also offers a Non-Qualified Retirement Plan 457(B), eligible to highly compensated individuals as defined by the IRS. There is no University matching under this plan and employee contributions to the plan vest immediately. The University also offers a Supplemental Executive Retirement Plan (SERP) 457(F) for two of its officers. The plan is designated as a non-qualified deferred compensation plan and is exempt from filing and audit requirements under Title I of ERISA. Schedule J, Part I, Line 7 Non-fixed payments THERE ARE NO SPECIFIC GUIDELINES FOR THE AMOUNT OF THE SPOT AWARD, AVERAGE AMOUNT OF SPOT AWARDS TEND TO NOT EXCEED 5% TO 15% OF GROSS ANNUAL SALARY. ANNUAL INCENTIVE PLAN (AIP): THE PURPOSE OF THE PLAN IS TO FOCUS EXECUTIVES ON SPECIFIC, SHORTER-TERM GOALS THAT ARE CRITICAL TO THE ACHIEVEMENT OF AFFILIATE, OPERATING UNIT AND SYSTEM-WIDE OBJECTIVES THAT DRIVE OVERALL ORGANIZATION PERFORMANCE. IN ALL CASES, THE EXECUTIVE COMMITTEE OF THE BOARD DETERMINES ACHIEVEMENT OF ORGANIZATION GOALS AND MAKES FINAL AWARD DETERMINATION WHICH MAY RESULT IN A REDUCTION OF AWARD IF APPROPRIATE. ALL SENIOR EXECUTIVE AWARDS ARE REVIEWED FOR COMPENSATION REASONABLENESS AND APPROVED BY THE COMPENSATION COMMITTEE PRIOR TO PAYMENT. A California Municipal Financing Authority 201563466 13048VF37 2022-12-01 140088561 To construct new Oakland, CA campus. false false false A 0 0 144100295 0 435961 0 2126715 0 0 44418881 6541289 90577449 false false true true A false false false false 0.0 0.0 0.0 false false true A false true false false false false false false true A true Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: California Municipal Financing Authority Total proceeds of $144,100,295 represents unspent proceeds from issuance plus interest earned during 2023 on unexpended proceeds. Other spent proceeds represent the annual interest payments on debt paid during 2023 of $6,541,289. Capitalized interest from proceeds represents the portion of annual interest expense incurred on bonds less interest earned on unexpended debt proceeds less bond premium amortization, equaling $435,961. Form 990, Part III, Line 1 MISSION STATEMENT Samuel Merritt University educates students to become highly skilled and compassionate health care professionals who positively transform the experience of care in diverse communities. Form 990, Part III, Line 4a SAMUEL MERRITT UNIVERSITY, ORIGINALLY FOUNDED IN 1909, IS A FULLY ACCREDITED HEALTH SCIENCES INSTITUTION LOCATED IN OAKLAND, CALIFORNIA WITH CAMPUSES IN SACRAMENTO, SAN MATEO, AND FRESNO. THE UNIVERSITY ALSO OFFERS SELECT DEGREES ONLINE. VALUES: A LEARNING ENVIRONMENT WHERE WE CHALLENGE OURSELVES AND OUR STUDENTS TO THINK CRITICALLY, SEEK MASTERY AND ACT COMPASSIONATELY. A COLLEGIAL ENVIRONMENT WHERE WE ARE FAIR, RESPECTFUL AND BEHAVE WITH INTEGRITY. A COLLABORATIVE ENVIRONMENT WHERE WE PARTNER WITH ONE ANOTHER AND WITH OTHERS IN THE COMMUNITY. AN INNOVATIVE ENVIRONMENT WHERE WE TAKE REASONED RISKS AND MOVE NIMBLY. A RESULTS-ORIENTED ENVIRONMENT WHERE WE PROVIDE AND EXPECT EXCEPTIONAL PERFORMANCE AND SERVICE. PROGRAMS UNDERGRADUATE DEGREE PROGRAM: THE UNIVERSITY OFFERS A BACHELOR OF SCIENCE IN NURSING (BSN). IN ADDITION, SMU OFFERS AN ACCELERATED BACHELOR'S OF SCIENCE IN NURSING (ABSN) AND AN RN TO BSN BACHELOR'S OF SCIENCE. GRADUATE DEGREE PROGRAMS - MASTER'S LEVEL: SMU OFFERS SEVERAL MASTER'S DEGREE PROGRAMS: MASTER OF OCCUPATIONAL THERAPY, MASTER OF SCIENCE IN NURSING - FAMILY NURSE PRACTITIONER, MASTER OF SCIENCE IN NURSING - CASE MANAGEMENT, MASTER OF SCIENCE IN NURSING - CLINICAL LEADERSHIP EDUCATION, MASTER OF SOCIAL WORK, MASTER OF HEALTH ADMINISTRATION, AND MASTER PHYSICIAN ASSISTANT. THE UNIVERSITY ALSO OFFERS TWO ENTRY-LEVEL MASTER OF SCIENCE IN NURSING DEGREE PROGRAMS. POST-PROFESSIONAL GRADUATE DEGREES IN NURSING INCLUDE PROGRAMS IN NURSE ANESTHESIA (CRNA), CASE MANAGEMENT (CM), AND FAMILY NURSE PRACTITIONER (FNP). GRADUATE DEGREE PROGRAMS - DOCTORAL LEVEL: THE UNIVERSITY OFFERS SEVERAL DOCTORAL DEGREES: DOCTOR OF PODIATRIC MEDICINE, DOCTOR OF PHYSICAL THERAPY, DOCTOR OF NURSING PRACTICE, AND DOCTOR OF OCCUPATIONAL THERAPY. ONLINE DEGREE PROGRAMS: SMU OFFERS SEVERAL OF ITS DEGREES IN THE ONLINE MODALITY: MASTER OF SCIENCE IN NURSING (POST-PROFESSIONAL FNP), RN TO BSN BACHELOR'S OF SCIENCE, AND DOCTOR OF NURSING PRACTICE. FACULTY AND STUDENTS (FALL 2023) NUMBER OF FULL-TIME FACULTY: 163 STUDENT/FACULTY CLINICAL RATIO: 8.0 TO 1 SAMUEL MERRITT STUDENTS: TOTAL STUDENTS: 1,894 UNDERGRADUATE STUDENTS: 741 GRADUATE STUDENTS: 1,153 MEN: 22 % / WOMEN: 78% ACCREDITATION: REGIONAL ACCREDITATION: WASC SENIOR COLLEGE AND UNIVERSITY COMMISSION (WSCUC). SPECIALIZED ACCREDITATION: ACCREDITATION REVIEW COMMISSION ON EDUCATION FOR THE PHYSICIAN. FACILITIES: INSTRUCTIONAL FACILITIES 250-SEAT FONTAINE AUDITORIUM (NOT LOCATED IN FRESNO FACILITIES); JOHN A. GRAZIANO MEMORIAL LIBRARY INCLUDING STUDY ROOMS AND COMPUTER LABS (NOT LOCATED IN FRESNO FACILITIES); MOTION ANALYSIS RESOURCE CENTER (MARC) (NOT LOCATED IN FRESNO FACILITIES). OTHER LABORATORIES INCLUDE THERAPEUTIC EXERCISE, EXERCISE PHYSIOLOGY, OCCUPATIONAL THERAPY, ANATOMY, NURSING, PODIATRIC MEDICINE, BIOMECHANICS, PHYSICAL DIAGNOSIS, AND HEALTH SCIENCES SIMULATION CENTER (HSSC). OTHER FACILITIES STUDENT LOUNGES, STUDY SPACE, AND EXERCISE FACILITIES (NOT LOCATED IN FRESNO FACILITIES). Form 990, Part VI, Line 1a Delegate broad authority to a committee The Board of Regents shall have the authority to organize itself an to form committees, as it deems appropriate. The Board shall have the following standing committees: Executive Committee, Finance Committee, Audit and Compliance Committee, and Podiatric Medical Education Advisory Committee. Each Committee shall have a charter approved by the Board defining its functions, membership, duties and powers. Each committee is supported and staffed by a member of the President's Cabinet appointed by the University President. Form 990, Part VI, Line 11b Review of form 990 by governing body THE INFORMATION AND DATA USED IN FORM 990 IS GATHERED, CALCULATED, AND COMPILED BY THE UNIVERSITY'S CONTROLLER. UPON COMPLETING THESE STEPS, THE INFORMATION IS FORWARDED TO THE EXECUTIVE VICE PRESIDENT & TREASURER FOR REVIEW AND APPROVAL. ONCE APPROVED, THE INFORMATION AND DATA IS UPLOADED ELECTRONICALLY TO THE UNIVERSITY ACCOUNTING FIRM'S DATA COLLECTION WEBSITE, FOR PREPARATION OF THE FORM 990. ONCE COMPLETED, THE FORM 990 IS FORWARD TO THE CONTROLLER TO ENSURE THAT INFORMATION THAT HAD BEEN PROVIDED ELECTRONICALLY WAS ENTERED ONTO THE FORM 990 CORRECTLY. THE CONTROLLER AND THE EXECUTIVE VICE PRESIDENT & TREASURER REVIEW THE FORM 990 FOR COMPLETENESS AND ACCURACY. AFTER WHICH, THE FORM IS PRESENTED TO THE AUDIT COMMITTEE AND COPIES ARE CIRCULATED TO THE BOARD OF REGENTS FOR REVIEW AND COMMENTS. SUBSEQUENTLY, THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE. THE FULL FILING COPY IS MADE AVAILABLE TO THE TO THE PUBLIC THROUGH THE POSTING ON THE UNIVERSITY'S FINANCE OFFICE WEBSITE. Form 990, Part VI, Line 12c Conflict of interest policy PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST: EMPLOYEES ARE EDUCATED ON THE CONFLICT OF INTEREST POLICY AND THE NEED TO MAKE DISCLOSURE AS PART OF ANNUAL COMPLIANCE EDUCATION. IN ADDITION, ANNUALLY A DISCLOSURE STATEMENT IS COMPLETED BY ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES. ON THIS STATEMENT THE INDIVIDUAL WILL LIST A WIDE RANGE OF INFORMATION WHICH INCLUDES BUSINESS RELATIONSHIPS, EMPLOYMENT RELATIONSHIPS, PROPERTY INTERESTS, AND THOSE OF RELATED PARTIES. IF THERE IS A POTENTIAL CONFLICT OF INTEREST RELATED TO A PARTICULAR TRANSACTION, THE INTERESTED INDIVIDUAL MUST DISCLOSE THE EXISTENCE AND NATURE OF THE RELATIONSHIP. THE BOARD CHAIR MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE THE CONFLICT. THE BOARD MAY CONSULT WITH THE OFFICE OF THE GENERAL COUNSEL AS NECESSARY. UNTIL THE POTENTIAL CONFLICT IS RESOLVED, THE BOARD CHAIR (OR COMMITTEE CHAIR AS APPLICABLE) MAY REQUEST THE INDIVIDUAL TO NOT PARTICIPATE DURING RELATED PRESENTATIONS AND DISCUSSIONS. IN ALL CIRCUMSTANCES INVOLVING AN ACTUAL CONFLICT, THE INTERESTED INDIVIDUAL SHALL LEAVE THE ROOM PRIOR TO THE BOARD'S FINAL DISCUSSION AND VOTE. Form 990, Part VI, Line 15a Process to establish compensation of top management official PROCESS FOR DETERMINING COMPENSATION: THE EXECUTIVE COMMITTEE OF THE SAMUEL MERRITT UNIVERSITY BOARD OF REGENTS RETAINS ULTIMATE DISCRETIONARY AUTHORITY OVER ALL ELEMENTS OF COMPENSATION TO ASSURE THAT ORGANIZATIONAL PURPOSES ARE APPROPRIATELY BEING SERVED. THE EXECUTIVE COMMITTEE USES CREDIBLE DATA SOURCES AND MAINTAINS AN OBJECTIVE "ARMS LENGTH" DECISION-MAKING PROCESS, ENSURING THE INTEGRITY OF SAMUEL MERRITT'S EXECUTIVE PROGRAMS AND CONSISTENCY WITH THE ORGANIZATION'S OVERALL MISSION. IN ORDER TO ENSURE EXTERNAL COMPETITIVENESS, NATIONAL, CALIFORNIA AND LOCAL MARKET AREA COMPENSATION DATA COMPARISONS ARE REVIEWED. COMPETITIVE ANALYSIS INCLUDES: (A) BASE SALARY, (B) TOTAL CASH (BASE SALARY + ANNUAL INCENTIVE), (C) TOTAL DIRECT CASH (BASE SALARY + ANNUAL INCENTIVE + LONG TERM INCENTIVE) AND (D) TOTAL REMUNERATION (BASE SALARY + ANNUAL INCENTIVE + BENEFITS AND LONG TERM INCENTIVE). THIS ANALYSIS INCLUDES COMPARABLE ORGANIZATIONS AND GEOGRAPHIC CONSIDERATIONS. FOR THE MOST SENIOR EXECUTIVE POSITIONS, NATIONAL COMPARISONS FOR ORGANIZATIONS SIMILAR IN SIZE, SCOPE AND COMPLEXITY AS SUTTER HEALTH ARE MOST APPROPRIATE SINCE IT IS A NATIONAL MARKETPLACE IN WHICH SAMUEL MERRITT COMPETES FOR EXECUTIVE TALENT. ON THE OTHER HAND, BECAUSE CALIFORNIA'S UNDERLYING COMPENSATION STRUCTURE IS HIGHER THAN NATIONAL DATA (ESPECIALLY IN THE BAY AREA), REGIONAL PAY ADJUSTMENTS MAY BE MADE. OFFICERS AND KEY EMPLOYEES OF THIS ORGANIZATION UNDERGO A REVIEW AND COMPENSATION COMMITTEE APPROVAL ANNUALLY, AND SUCH APPROVAL IS RECORDED IN THE MINUTES. THE 2023 EXECUTIVE COMPENSATION APPROVAL WAS COMPLETED IN FEBRUARY 2023. Form 990, Part VI, Line 19 Required documents available to the public AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY & FINANCIAL STATEMENTS: SAMUEL MERRIT UNIVERSITY POSTS ITS CURRENT AND PAST AUDITED FINANCIAL STATEMENTS AT SAMUELMERRITT.EDU. OTHER DOCUMENTS ARE ALSO LOCATED AT THIS WEBSITE INCLUDING THE MISSION STATEMENT, HISTORY, AND LINKS TO POLICIES. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME.