2025-04-10T13:52:58-05:00 2024-05-31 273858252 DEAN DORTON ALLEN FORD PLLC 810 WRIGHTS SUMMIT PARKWAY SUITE 300 FORT WRIGHT KY 41011 990 2023-06-01 610448560 THOMAS MORE UNIVERSITY INC THOM 8593415800 333 THOMAS MORE PARKWAY CRESTVIEW HILLS KY 41017 DR JOSEPH L CHILLO PRESIDENT 8593443513 2025-04-07 1 0 STEPHANIE ALLGEYER P00761973 8593313300 2025-04-07 2023 2025-03-06 01:10:19Z DR JOSEPH L CHILLO 333 THOMAS MORE PARKWAY CRESTVIEW HILLS KY 41017 67985606 0 0928 X WWW.THOMASMORE.EDU X 1921 KY TO DEVELOP AND SUSTAIN CHALLENGING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL PROGRAMS OF STUDY, MARKED BY SUPERIOR TEACHING AND SCHOLARSHIP WITHIN THE CATHOLIC INTELLECTUAL TRADITION. 25 21 798 100 313882 313128 11505252 3076771 52151788 53057850 1522753 1115535 370989 384147 65550782 57634303 25554297 26790617 0 0 18164448 18813814 0 0 1129407 16418755 16936356 60137500 62540787 5413282 -4906484 91289263 108985905 30344394 52001105 60944869 56984800 X THOMAS MORE UNIVERSITY IS THE CATHOLIC LIBERAL ARTS UNIVERSITY OF THE DIOCESE OF COVINGTON, KENTUCKY. INSPIRED BY THE CATHOLIC INTELLECTUAL TRADITION, WE CHALLENGE STUDENTS OF ALL FAITHS TO EXAMINE THE ULTIMATE MEANING OF LIFE, THEIR PLACE IN THE WORLD, AND THEIR RESPONSIBILITY TO OTHERS. 0 0 50041406 26790617 53057850 FOR MORE THAN 100 YEARS, THOMAS MORE HAS CREATED A UNIVERSITY FOR THE STUDENT WHO WANTS TO BE MORE, DO MORE, SEEK MORE, WIN MORE, ACHIEVE MORE, AND CREATE MORE. SINCE ITS FOUNDING IN 1921, THOMAS MORE HAS PROVIDED A MISSION-DRIVEN, LIBERAL ARTS EDUCATION THAT IS BASED IN THE CATHOLIC INTELLECTUAL TRADITION. STUDENTS LEARN TO HARNESS THE POWER OF HUMAN REASON TO SOLVE PROBLEMS AND DISCOVER TRUTH, WHICH ALLOWS THEM TO BEGIN THE JOURNEY TO BECOME THE PERSON THEY WERE CREATED TO BE. ENTERING INTO THE SECOND CENTURY, IT'S TIME FOR MORE. SERVING APPROXIMATELY 2,000 STUDENTS, THOMAS MORE ASPIRES TO BE THE PREMIER CATHOLIC UNIVERSITY IN THE CINCINNATI AND NORTHERN KENTUCKY REGION. 50041406 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 2125 0 798 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 21 0 0 0 1 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X RICHARD ROLLINO 8593443356 333 THOMAS MORE PARKWAY CRESTVIEW HILLS KY 410173428 DR JOSEPH L CHILLO PRESIDENT 37.50 X X 476833 0 55801 DR JAMES CAMP TRUSTEE/PROFESSOR 37.50 X 79966 0 13406 DR JYOTI SARASWAT TRUSTEE/PROFESSOR 37.50 X 55092 0 19677 MOST REV JOHN C IFFERT CHANCELLOR 0.50 X X 0 0 0 DR JUDITH A MARLOWE CHAIRPERSON 3.00 X X 0 0 0 THOMAS LUEKE VICE CHAIRPERSON 0.50 X X 0 0 0 WILBERT L ZIEGLER TRUSTEE 0.50 X 0 0 0 DANIEL E TOBERGTE TRUSTEE 0.50 X 0 0 0 ANDREW SCHAEFFER TRUSTEE 0.50 X 0 0 0 DR DONALD SAELINGER TRUSTEE 0.50 X 0 0 0 JOAN M ROBINSON TRUSTEE 0.50 X 0 0 0 SR LESLIE KEENER CDP TRUSTEE 0.50 X 0 0 0 MICHAEL DEMPSEY TRUSTEE 0.50 X 0 0 0 DR LAURA KOEHL TRUSTEE 0.50 X 0 0 0 CATHERINE T GUILFOYLE TRUSTEE 0.50 X 0 0 0 THOMAS J DEPENBROCK TRUSTEE 0.50 X 0 0 0 GARY BLANK TRUSTEE 0.50 X 0 0 0 KIMBERLY HALBAUER TRUSTEE 0.50 X 0 0 0 JOHN BANCHY TRUSTEE 0.50 X 0 0 0 DR YVAN DEMOSTHENES TRUSTEE 0.50 X 0 0 0 DR RACHEL LEHMKUHL TRUSTEE 0.50 X 0 0 0 JOSEPH ROESEL TRUSTEE 0.50 X 0 0 0 SUSAN STURGEON TRUSTEE 0.50 X 0 0 0 TED ZALLA TRUSTEE 0.50 X 0 0 0 NIYOKWIZERA EVA STUDENT REP 0.50 X 0 0 0 MARK GOSHORN CFO (LEFT 04/19/24) 37.50 X 127391 0 15967 CHARLENE K BARLOW SEC/ASSISTANT TO PRESIDENT 37.50 X 53029 0 14616 DR KEVIN REYNOLDS VP INSTITUTIONAL ADVANCEMENT 37.50 X 168846 0 25644 DR JEROME LANGGUTH VP & CHIEF ACADEMIC OFFICER 37.50 X 122988 0 15081 DR BRUCE ROSENTHAL DEAN COLLEGE OF BUSINESS 37.50 X 112373 0 58025 KELLY FRENCH VP STRATEGY & IMPACT 37.50 X 111635 0 18148 1308153 0 236365 6 0 1 0 TURNER CONSTRUCTION COMPANY 375 HUDSON ST NEW YORK NY 10014 BUILDING/CONSTRUCTION 12983535 ARAMARK CORPORATION PO BOX 7548 PHILADELPHIA PA 19101 FOOD SERVICES 2455470 UNITED HEALTHCARE PO BOX 94017 PALATINE IL 60094 HEALTH INSURANCE 2148550 NATIONAL MANAGEMENT RESOURCES CORP 113 CORPORATE PARK EAST DR LAGRANGE GA 30241 MAINTENANCE SERVICES 1342535 JENZABAR INC 101 HUNTINGTON AVE BOSTON MA 02199 IT SERVICE/SOFTWARE 1039046 32 66156 26075 2984540 93253 3076771 STUDENT TUITION 611710 47910178 47910178 HOUSING 611710 3981125 3981125 OTHER REVENUE 611710 892087 892087 AUXILARY SERVICES 611710 274460 274460 53057850 725865 111810 614055 403564 0 403564 403564 202072 201492 10687785 10298115 389670 389670 389670 33771 66156 53188 -19417 -19417 57634303 53057850 313882 1185800 26790617 26790617 792311 538274 216894 37143 13685562 9297589 3746397 641576 2959545 2010632 810170 138743 1376396 935085 376786 64525 2176916 1092301 933842 150773 875625 534626 340999 659575 120524 539051 1770385 41208 1729177 1881125 1323044 515016 43065 1043854 781561 258328 3965 1834554 1570509 248145 15900 702073 329225 372848 DINING SERVICE 2182977 2182977 UTILITIES 1128382 565445 562937 MISCELLANEOUS 1017713 590288 419263 8162 SUPPLIES AND RENTALS 932164 739326 179283 13555 731013 598175 120838 12000 62540787 50041406 11369974 1129407 1911329 5779346 5263550 2832307 3597095 100000 266286 103205 1711886 843302 88140563 41114864 30295236 47025699 31907622 35824802 11028447 10693111 5556804 5535141 91289263 108985905 3138632 5628227 917961 1942883 20109453 37785909 6178348 6644086 30344394 52001105 X 27595150 15402549 33349719 41582251 60944869 56984800 91289263 108985905 X -4906484 3438855 -240334 -2167640 -84466 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 148148 X 0 33220333 265357 4315694 1350126 36451258 34267985 826335 -726000 594628 553359 33220333 36775629 1123962 -2565125 524059 542422 34267985 28354894 1943590 7436904 959759 36775629 26483288 358521 2422662 909577 28354894 0.01341 0.98659 0 0 1675908 1675908 71319939 28758232 42561707 14649007 11916515 2732492 495709 440117 55592 47025699 INVESTMENT IN SUBSIDIARIES 10693111 C 10693111 RIGHT OF USE ASSETS 5204286 BENEFICIAL INTERESTS IN ASSETS HELD BY COMMUNITY FUNDS 31154 OTHER ASSETS 299701 5535141 OTHER LIABILITIES 160871 LEASE LIABILITY 5800476 BANK OVERDRAFT 682739 6644086 X 34602895 3438855 507500 53188 3999543 30603352 240334 26790617 27030951 57634303 36310858 507500 53188 560688 35750170 26790617 26790617 62540787 PART III, LINE 4: ART WAS DISPLAYED THROUGHOUT THE UNIVERSITY IN FURTHERANCE OF ITS CHARITABLE PURPOSES. PART V, LINE 4: STUDENT AID AND SUPPORT OF ACADEMIC PROGRAMS PART X, LINE 2: THE UNIVERSITY IS A KENTUCKY NONPROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON RELATED INCOME PURSUANT TO THE INTERNAL REVENUE CODE. THE UNIVERSITY HAS ADOPTED THE PROVISIONS OF THE ACCOUNTING PRONOUNCEMENT RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE UNIVERSITY RECOGNIZED NO INTEREST OR PENALTIES IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES FOR BOTH THE YEARS ENDED MAY 31, 2024 AND 2023. IF THE SITUATION AROSE IN WHICH THE UNIVERSITY WOULD HAVE INTEREST TO RECOGNIZE, IT WOULD RECOGNIZE THIS AS INTEREST EXPENSE AND PENALTIES WOULD BE RECOGNIZED IN OTHER EXPENSES. CURRENTLY, THE PRIOR THREE YEARS ARE OPEN UNDER FEDERAL AND STATE STATUTE OF LIMITATIONS AND REMAIN SUBJECT TO REVIEW AND CHANGE. THE UNIVERSITY IS NOT CURRENTLY UNDER AUDIT NOR HAS IT BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE UNIVERSITY'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR BOTH THE YEARS ENDED MAY 31, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT EXPENSES 53,188. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 26,790,617. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT EXPENSES 53,188. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 26,790,617. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 SCHEDULE E, PART I, LINE 3 WEBSITE, PROMOTIONAL INFORMATION AND NEWSPAPER ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 THE AID IN SUPPORT OF THE BACCALAUREATE NURSING PROGRAM WAS SUSPENDED FOR ONE YEAR ON JULY 1, 1998 AND REINSTATED ON JUNE 30, 1999 BY THE DEPARTMENT OF HUMAN HEALTH AND SERVICES. THOMAS MORE UNIVERSITY RECEIVES GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION FEDERAL STUDENT AID AWARDS. SOUTH ASIA 0 1 PROGRAM SERVICES STUDENT RECRUITMENT 43682 0 1 0 0 0 1 43682 0 43682 0 0 0 0 0 0 GOLF CLASSIC 29210 16410 12800 8840 6340 4250 ATHLETIC GOLF OUTING 70717 49746 20971 11750 7063 14945 99927 66156 33771 20590 13403 19195 53188 -19417 1 STUDENT AID AND SCHOLARSHIPS 1193 26790617 PART I, LINE 2: ALL STUDENT AID AND SCHOLARSHIPS ARE USED FOR TUITION AND RELATED EXPENSES AT THE UNIVERSITY. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR JOSEPH L CHILLO PRESIDENT 476833 0 0 0 0 0 30000 0 25801 0 532634 0 0 0 DR KEVIN REYNOLDS VP INSTITUTIONAL ADVANCEMENT 168846 0 0 0 0 0 7583 0 18061 0 194490 0 0 0 DR BRUCE ROSENTHAL DEAN COLLEGE OF BUSINESS 112373 0 0 0 0 0 0 0 58025 0 170398 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A HOUSING ALLOWANCE THAT IS INCLUDED ON THE PRESIDENT'S W-2 FORM AND REPORTED AS OTHER REPORTABLE COMPENSATION ON SCHEDULE J PART II. DR JOSEPH L CHILLO PRESIDENT EMPLOYEE BENEFIT X 100000 100000 0 1 1 100000 STUDENT REPRESENTATIVE TRUSTEE 13000 MERIT BASED SCHOLARSHIPS X 3 85649 FAIR MARKET VALUE X SUPPLIES AND EQUIPMENT 3 7604 FAIR MARKET VALUE 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS PART I, LINE 32B: ALL DONATED SECURITIES ARE DIRECTLY TRANSFERRED TO THE UNIVERSITY'S BROKERAGE ACCOUNT AND FROM THERE THEY ARE SOLD AND PROCEEDS ARE TRANSFERRED TO THE UNIVERSITY'S BANK ACCOUNT. FORM 990, PART VI, SECTION A, LINE 5 IN MARCH 2024, A MANAGEMENT EMPLOYEE IN THE FINANCE DEPARTMENT WAS THE TARGET OF A PHISHING EMAIL SCAM BY AN INDIVIDUAL FALSELY REPRESENTING TO BE AN OFFICER OF A LARGE VENDOR OF THE UNIVERSITY. THE MANAGEMENT EMPLOYEE ACTED ON FRAUDULENT INSTRUCTIONS TO CHANGE THE MODE OF PAYMENT TO THE VENDOR AND DIVERTED $877,455 BY AN ACH TRANSFER TO THIS PHISHING PERPETRATOR. THE UNIVERSITY RECOVERED A TOTAL OF $679,113 FROM ITS BANK'S RECAPTURE OF A PORTION OF THE TRANSFERRED FUNDS AND INSURANCE PROCEEDS. THE NET LOSS TO THE INSTITUTION WAS $198,342. THE UNIVERSITY HAS ANNUAL TRAINING AND IMPLEMENTING ADITIONAL CONTENT TO PREVENT SUCCESSFUL PHISHING. FORM 990, PART VI, SECTION A, LINE 7A PERSONS NOMINATED FOR ELECTION TO THE BOARD ARE SELECTED BY THE GOVERNANCE COMMITTEE, APPROVED BY THE CHANCELLOR AND ELECTED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B PERSONS NOMINATED FOR ELECTION TO THE BOARD ARE SELECTED BY THE GOVERNANCE COMMITTEE, APPROVED BY THE CHANCELLOR AND ELECTED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS SUBMITTED TO THE FINANCE, BUSINESS, AND CAPITAL PLANNING COMMITTEE FOR REVIEW, THEN IT IS FORWARDED TO THE BOARD FOR THEM TO REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THOMAS MORE UNIVERSITY RECEIVES ANNUALLY AN UPDATED CONFLICT OF INTEREST FORM FROM THE ENTIRE BOARD. THE ORGANIZATION REGULARLY REVIEWS THE CONFLICT OF INTEREST FORMS PRIOR TO A BOARD VOTE AND IF A BOARD MEMBER IS FOUND TO HAVE A CONFLICT OF INTEREST THEY ARE NOT PERMITTED TO VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE VICE PRESIDENTS EACH PREPARE AN ASSESSMENT OF THEIR PERFORMANCE BASED ON GOALS SET THE PRIOR YEAR. THIS ASSESSMENT IS PROVIDED TO THE PRESIDENT. THE PRESIDENT PREPARES HIS ASSESSMENT. THESE ASSESSMENTS ARE DISCUSSED WITH THE BOARD COMMITTEE CHAIRS WITH WHOM EACH VICE PRESIDENT INTERACTS AS WELL AS THE BOARD CHAIR. COMPENSATION IS THEN DETERMINED. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE AFTER THE PRESIDENT'S SELF EVALAUTION AND TRUSTEE EVALUATION OF THE PRESIDENT'S PERFORMANCE ARE COMPLETED. THE UNIVERSITY ROUTINELY MONITORS HOW THOMAS MORE UNIVERSITY SALARIES COMPARE TO PEER INSTITUTIONS. 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 XI, LINE 9: INVESTMENT INCOME/LOSS FROM SUBSIDIARY -84,466. FORM 990, PART XII, LINE 2C: THE UNIVERSITY'S FINANCE, BUSINESS & CAPITAL PLANNING COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NORTHERN KENTUCKY RACQUET CLUBS INC 333 THOMAS MORE PARKWAY CRESTVIEW HILLS KY 41017 610845476 SPORTS CLUB KY THOMAS MORE UNIVERSITY INC C 471642 17295012 1.00000 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 NORTHERN KENTUCKY RACQUET CLUBS INC A 205442 FMV NORTHERN KENTUCKY RACQUET CLUBS INC D 4000 FMV NORTHERN KENTUCKY RACQUET CLUBS INC F 250870 FMV