2025-05-12T14:59:19-05:00 2024-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2023-07-01 340714777 URSULINE COLLEGE URSU 4406468301 2550 LANDER ROAD PEPPER PIKE OH 44124 DR DAVID KING PRESIDENT 4406468301 2025-05-12 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2023 2025-03-06 01:10:19Z SR CHRISTINE DE VINNE O 2550 LANDER ROAD PEPPER PIKE OH 44124 62008314 0 X WWW.URSULINE.EDU X 1871 OH URSULINE COLLEGE OFFERS HOLISTIC EDUCATION THAT TRANSFORMS STUDENTS FOR SERVICE, LEADERSHIP AND PROFESSIONAL EXCELLENCE BY PROVIDING UNDERGRADUATE AND GRADUATE PROGRAMS THAT FOSTER LIFELONG LEARNING AND PERSONAL WISDOM IN AN ENVIRONMENT CHARACTERIZED BY: CATHOLIC ANDURSULINE HERITAGE; WOMEN-CENTERED LEARNING; VALUES-BASED CURRICULA; AND AN INCLUSIVE, GLOBAL PERSPECTIVE. 28 28 584 1 49636 48160 4296114 3370116 27968148 31190475 1261755 7855367 136850 140622 33662867 42556580 10994975 11860397 0 0 15335325 16116528 0 0 970024 11097531 12559730 37427831 40536655 -3764964 2019925 93638897 93221543 3321760 3473541 90317137 89748002 X THE EDUCATION OF INDIVIDUALS AT BOTH THE UNDERGRADUATE AND GRADUATE LEVEL. THE COLLEGE OFFERS 35 DEGREE PROGRAMS RANGING FROM FASHION DESIGN AND SPORTS MANAGEMENT TO EDUCATION AND DOCTOR OF NURSING PRACTICE. APPROXIMATELY 1,000 STUDENTS ATTEND THE COLLEGE IN-PERSON AND ONLINE. 0 0 36589870 11860397 31191925 THE EDUCATION OF INDIVIDUALS AT BOTH THE UNDERGRADUATE AND GRADUATE LEVEL. THE COLLEGE OFFERS 35 DEGREE PROGRAMS RANGING FROM FASHION DESIGN AND SPORTS MANAGEMENT TO EDUCATION AND DOCTOR OF NURSING PRACTICE. APPROXIMATELY 1,000 STUDENTS ATTEND THE COLLEGE IN-PERSON AND ONLINE. 36589870 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 124 0 1 584 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X URSULINE COLLEGE 4406468301 2550 LANDER RD PEPPER PIKE OH 44124 SR LAURA BREGAR OSU TRUSTEE 0.50 X 0 0 0 AMY CHEATHAM TYE TRUSTEE 0.50 X 0 0 0 SUSAN CHIANCONE TRUSTEE 0.50 X 0 0 0 JEANNE COLLERAN TRUSTEE 0.50 X 0 0 0 TERI HERRMANN CORLETZI TRUSTEE 0.50 X 0 0 0 DIXIE LEE DAVIS TRUSTEE 0.50 X 0 0 0 SR CHRISTINE DE VINNE OSU TRUSTEE 38.50 X X 0 0 0 GEORGE J GOUDREAU JR TRUSTEE 0.50 X 0 0 0 GINA GUNNING TRUSTEE 0.50 X 0 0 0 JEFFREY HEINEN TRUSTEE 0.50 X 0 0 0 JOCELYN JONES TRUSTEE 0.50 X 0 0 0 LORI KALIC TRUSTEE 0.50 X 0 0 0 MARY KHOURI TRUSTEE 0.50 X 0 0 0 NICOLE LEE MACPHERSON TRUSTEE 0.50 X 0 0 0 MHOIRE MCGRATH CADE TRUSTEE 0.50 X 0 0 0 ELIZABETH MCINTYRE TRUSTEE 0.50 X 0 0 0 SR CHERYL MENTKOWSKI OSU TRUSTEE 0.50 X 0 0 0 CYNTHIA MOORE-HARDY TRUSTEE 0.50 X 0 0 0 JOHN M NEWMAN JR CHAIR 0.50 X 0 0 0 LINDA OLEJKO TRUSTEE 0.50 X 0 0 0 KIMBERLEY OSBORNE-MILSTEIN TRUSTEE 0.50 X 0 0 0 ANTHONY PANZICA TRUSTEE 0.50 X 0 0 0 RAMYA RAMADURAI TRUSTEE 0.50 X 0 0 0 SR GRETCHEN RODENFELS OSU TRUSTEE 0.50 X 0 0 0 MARTIN RODRIGUEZ TRUSTEE 0.50 X 0 0 0 MICHAEL SANTELLI TRUSTEE 0.50 X 0 0 0 REGINA SAWYER TRUSTEE 0.50 X 0 0 0 MICHAEL J SILVESTRO TRUSTEE 0.50 X 0 0 0 LISA SUTTON TRUSTEE 0.50 X 0 0 0 EDDIE TAYLOR JR TRUSTEE 0.50 X 0 0 0 SR RITAMARY WELSH OSU TRUSTEE 0.50 X 0 0 0 PAM WRIGHT TRUSTEE 0.50 X 0 0 0 REV GARY D YANUS TRUSTEE 0.50 X 0 0 0 KATHRYN LAFONTANA VP OF ACADEMIC AFFAIRS 37.50 X 125770 0 20299 CINDY NAEGELE VP OF INST.ADV.(THROUGH 10/31/23) 37.50 X 80046 0 2749 DEANNE HURLEY VP OF STUDENT AFFAIRS 37.50 X 118972 0 13892 CHERYL NOVISKI VP/CFO OF FINANCE(THROUGH 5/15/24) 37.50 X 118165 0 11901 RICHARD M BROWN VP OF ENROLLMENT MANAGEMENT 37.50 X 126250 0 3947 RYAN ADLER PROG.DIR.-PHYS.ASST.(THROUGH 11/30/23) 37.50 X 115711 0 11804 JENISE SNYDER DEAN-SCHOOL OF ARTS&SCIENCES&PROF.STUDIES 37.50 X 105251 0 13279 PATRICIA SHARPNACK DEAN-BREEN SCHOOL OF NURSING 37.50 X 114778 0 13664 904943 0 91535 7 0 0 0 METZ CULINARY MANAGEMENT 2 WOODLAND DR DALLAS PA 18612 FOOD SERVICE 943754 LAWLER CONSTRUCTION LLC 750 BETA DR UNIT H MAYFIELD OH 44143 CONSTRUCTION 595325 ATI 62277 COLLECTIONS CENTER DR CHICAGO IL 60693 ONLINE ASSESSMENT 397061 ALL FOR YOU JANITORIAL 11245 CAMEL LANE CHARDON OH 44024 JANITORIAL SERVICES 387475 MID STATE RESTORATION 2521 MONTROE AVE CLEVELAND OH 44113 CONSTRUCTION 327790 13 1644089 1726027 3370116 TUITION AND FEES 900099 28086485 28086485 ROOM AND BOARD 900099 2404773 2404773 OTHER PROGRAM REVENUE 900099 692032 692032 BOOKSTORE 900099 7185 7185 31190475 5238070 25348 5212722 139172 0 139172 139172 24288 114884 22069031 19451734 2617297 2617297 2617297 ALUMNAE SNACK BAR 900099 1450 1450 1450 42556580 31191925 49636 7944903 11860397 11860397 621991 553569 44317 24105 12251379 10903668 872908 474803 333929 297196 23792 12941 1943479 1729687 138472 75320 965750 859513 68809 37428 205969 205969 57800 57800 22139 22139 3893745 3529736 350787 13222 533846 526504 2466 4876 473403 404909 11226 57268 11844 10137 1239 468 1677519 1435707 175510 66302 261315 223647 27340 10328 SUPPLIES 1215810 1201842 6770 7198 EQUIPMENT, FURNITURE 1020076 802140 185865 32071 UTILITIES 1007269 862072 105386 39811 RECRUIT., PUBLICATIONS 565117 376614 177744 10759 1613878 1012532 498222 103124 40536655 36589870 2976761 970024 1508030 3181974 2179076 1281980 385512 959178 772307 680350 197600 235738 92398963 55327568 37470549 37071395 43802061 43011258 6350915 5877480 972847 922190 93638897 93221543 1150016 1870682 64175 72325 617169 0 1490400 1530534 3321760 3473541 X 37590233 38582898 52726904 51165104 90317137 89748002 93638897 93221543 2019925 -2589060 0 X 0 1 X 1 1 1 X 3568617 3281393 8033773 4296114 3370116 22550013 3568617 3281393 8033773 4296114 3370116 22550013 2857754 19692259 1221777 1118967 1130415 1906276 5377242 10754677 8237 -725058 -716821 32587869 141958276 0.60430 0.64740 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUE - 2019 AMOUNT: $ 8,237. 2021 AMOUNT: $ 4,888. IMPAIRMENT LOSS - 2021 AMOUNT: $ -729,946. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 49990856 -61612 5432698 4000000 2509131 48852811 49155888 1600887 5170257 5936176 49990856 58865298 1301208 -8007473 3003145 49155888 47079985 -930563 14649799 1933923 58865298 45933451 2243847 818271 1915584 47079985 0.06104 0.55893 0.38003 0 0 179270 179270 72044035 37188383 34855652 20175658 18139185 2036473 37071395 OTHER NON-PUBLICLY TRADED INVESTMENTS 5877480 F 5877480 GOVERNMENTAL LOAN PROGRAM 1303347 OPERATING LEASE LIABILITIES 227187 1530534 X 28084984 -2589060 -2589060 30674044 22139 11860397 11882536 42556580 28654119 0 28654119 22139 11860397 11882536 40536655 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE SPENT IN ACCORDANCE WITH THE DONOR'S RESTRICTIONS APPLICABLE TO FUNDS BEING DISTRIBUTED. ANNUAL DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE CALCULATED USING THE AVERAGE MARKET VALUE OF INVESTABLE ASSETS OF THE PAST THREE YEARS IN THE PERMANENTLY RESTRICTED FUND. FOR THE YEAR ENDED JUNE 30, 2022, THE COLLEGE UTILIZED A SPENDING RATE OF 5% AS SET AND APPROVED BY THE BOARD OF TRUSTEES. EXPENDITURES ARE USED TO FURTHER THE EDUCATIONAL PURPOSES OF THE COLLEGE. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - THE COLLEGE IS A NON-PROFIT ORGANIZATION THAT IS TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN FOR POSSIBLE RECOGNITION AND MEASUREMENT IN THE FINANCIAL STATEMENTS BASED UPON PRESCRIBED CRITERIA. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT, AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE SUCH RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE'S INFORMATIONAL AND TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS RECORDED AS A REDUCTION OF TUITION REVENUE ON FINANCIAL STMTS. 11,860,397. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS RECORDED AS A REDUCTION OF TUITION REVENUE ON FINANCIAL STMTS. 11,860,397. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 IN ACCORDANCE WITH SECTION 4.03 OF REVENUE PROCEDURE 75-50, THE COLLEGE HAS MET THE PUBLICATION REQUIREMENT BY INCLUDING ITS RACIAL NONDISCRIMINATION POLICY IN ALL OF ITS BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. THE COLLEGE ALSO POSTS ITS POLICY ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 FINANCIAL AID FROM A GOVERNMENTAL AGENCY - THE COLLEGE PARTICIPATES IN VARIOUS STATE AND FEDERAL STUDENT FINANCIAL ASSISTANCE PROGRAMS WHICH ARE REGULATED FOR COMPLIANCE BY VARIOUS GOVERNMENT DEPARTMENTS. THE COLLEGE AND ITS STUDENTS RECEIVED APPROXIMATELY $14.8 MILLION FOR THE YEAR ENDED JUNE 30, 2024; OF THIS AMOUNT, A SUBSTANTIAL PORTION IS UTILIZED FOR PAYMENT OF TUITION AND FEES. 1 SCHOLARSHIPS 996 11860397 0 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE COLLEGE'S ONLY GRANT-MAKING ACTIVITY IS TO PROVIDE SCHOLARSHIPS TO THOSE STUDENTS THAT MEET CERTAIN FINANCIAL AND MERIT CRITERIA. THESE SCHOLARSHIPS ARE DEDUCTED FROM EACH RECIPIENT'S BILL FOR TUITION AND FEES. AS SUCH, THE COLLEGE IS ASSURED THAT ITS GRANTS ARE USED FOR THE INTENDED PURPOSE OF HELPING STUDENTS WITH EDUCATIONAL EXPENSES. X 3 0 N/A 0 0 1 0 PART I, LINE 33: REVENUE NOT REPORTED FOR CERTAIN CONTRIBUTIONS - THE COLLEGE DOES NOT BOOK REVEUE FOR GIFTS OF ART, AS PERMITTED UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CORPORATION - THE MEMBERS OF THE COLLEGE ARE THE PRESIDENT OF THE URSULINE SISTERS OF CLEVELAND AND THOSE DESIGNATED BY THE LEADERSHIP TEAM OF THE URSULINE SISTERS OF CLEVELAND. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS' POWER TO ELECT BOARD MEMBERS - THE MEMBERS OF THE COLLEGE HAVE THE POWER TO APPOINT ALL BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B DECISION APPROVAL BY THE MEMBERS - THE MEMBERS OF THE COLLEGE HAVE APPROVAL RIGHTS OVER CERTAIN MAJOR DECISIONS OF THE BOARD INCLUDING CHANGE IN MISSION, ELECTION OF TRUSTEES, AMENDMENTS TO ARTICLES OF INCORPORATION OR REGULATIONS, SALE OF ASSETS OUT OF THE ORDINARY COURSE OF BUSINESS, SALE OF SUBSTANTIALLY ALL ASSETS OF THE CORPORATION, AND THE MERGER OR DISSOLUTION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - AFTER PREPARATION OF FORM 990 BY THE INDEPENDENT PUBLIC ACCOUNTANTS, THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION AND THE CHAIR OF THE FINANCE COMMITTEE REVIEW IT. THE FORM 990 IS THEN PROVIDED TO ALL BOARD MEMBERS PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE COLLEGE REVIEWS ITS CONFLICT POLICY WITH THE BOARD ANNUALLY. ON AN ON-GOING BASIS, THE COMMITTEES OF THE BOARD INQUIRE ABOUT POTENTIAL CONFLICTS BASED UPON GENERAL KNOWLEDGE OF BUSINESS OR PERSONAL RELATIONSHIPS AMONG FELLOW BOARD MEMBERS. THE COLLEGE'S FINANCE DEPARTMENT ALSO ASSISTS WITH REVIEWING TRANSACTIONS FOR WHICH CONFLICTS MAY EXIST. WHEN A CONFLICT ARISES, THE INDIVIDUAL WITH THE CONFLICT IS NOT PERMITTED TO VOTE OR PARTICIPATE IN THE DISCUSSION OF THE PROPOSED TRANSACTION. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE PERSON WITH THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION - THE BOARD'S FINANCE COMMITTEE REVIEWS THE COMPENSATION PROVIDED TO THE PRESIDENT AND OTHER COMPENSATED OFFICERS ANNUALLY. THE COMMITTEE UTILIZES COMPARATIVE DATA, AND THIS REVIEW WAS LAST PERFORMED IN 2022. THE MEMBERS OF THE FINANCE COMMITTEE ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM COMPENSATION DECISIONS ARE BEING MADE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE COLLEGE DOES NOT MAKE ITS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY OR GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. URSULINE STUDENT LEARNING CENTER LLC 2550 LANDER ROAD PEPPER PIKE OH 44124 340714777 REAL ESTATE OH 35150 196152 URSULINE COLLEGE ARROW PROPERTY HOLDINGS LLC 2550 LANDER ROAD PEPPER PIKE OH 44124 340714777 REAL ESTATE OH 35600 208398 URSULINE COLLEGE URSULINE SISTERS OF CLEVELAND 2600 LANDER ROAD PEPPER PIKE OH 44124 340832279 RELIGIOUS ORDER OH 501(C)(3) LINE 1 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 URSULINE SISTERS OF CLEVELAND M 254681 COST