2025-04-01T10:00:45-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 825524327 IGNATIUS HALL DEVELOPMENT INC IGNA 2017617425 2641 JOHN F KENNEDY BOULEVARD JERSEY CITY NJ 07306 PAUL CIRAULO TRUSTEE 2017617425 2025-03-27 1 0 LAURA J KENNEY P00202198 6177170831 2025-03-27 2023 2025-03-06 01:10:19Z X HUBERT BENITEZ DDS PHD 2641 JOHN F KENNEDY BOULEVARD JERSEY CITY NJ 07306 2699817 0 0928 X N/A X 2018 NJ TO ESTABLISH AND OPERATE A DORMITORY FACILITY FOR THE STUDENTS OF SAINT PETER'S UNIVERSITY. X 3 1 0 1 0 0 0 0 2443668 2668462 0 0 53324 18717 2496992 2687179 0 0 0 0 0 0 0 0 0 818233 1104854 818233 1104854 1678759 1582325 26844921 0 25216238 0 1628683 0 X TO ESTABLISH AND OPERATE A DORMITORY FACILITY FOR THE STUDENTS OF SAINT PETER'S UNIVERSITY IN AN EFFORT TO ENHANCE THE EDUCATION AND NON-PROFIT PURPOSES OF SAINT PETER'S UNIVERSITY. 0 1 1097118 0 2668462 OPERATION OF A DORMITORY FACILITY FOR THE STUDENTS OF SAINT PETER'S UNIVERSITY IN AN EFFORT TO ENHANCE THE EDUCATION AND NON-PROFIT PURPOSES OF SAINT PETER'S UNIVERSITY.ON MAY 8, 2024, THE BOARD OF TRUSTEES AUTHORIZED A PLAN OF DISSOLUTION AND TRANSFERRED ALL ASSETS TO SAINT PETER'S UNIVERSITY, A RELATED 501(C)(3) PUBLIC CHARITY. 1097118 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 NJ X PAUL CIRAULO 2017617425 2641 KENNEDY BLVD JERSEY CITY NJ 07306 EUGENE J CORNACCHIA PHD TRUSTEE 1.00 55.00 X 0 515885 105154 PAUL CIRAULO TRUSTEE 1.00 55.00 X 0 207060 6277 JOSEPH A PANEPINTO SR TRUSTEE 1.00 0.00 X 0 0 0 0 722945 111431 0 0 1 0 0 STUDENT HOUSING 900099 2668462 2668462 2668462 31355 12638 18717 18717 18717 2687179 2668462 0 18717 3168 3168 3150 3150 1418 1418 289281 289281 782750 782750 REPAIRS & MAINTENANCE 24199 24199 888 888 1104854 1097118 7736 0 57625 0 0 0 0 0 0 0 0 0 0 26787296 0 0 0 0 0 0 26844921 0 147363 0 1481100 0 23587775 0 25216238 0 X 1628683 0 1628683 0 26844921 0 X 1582325 -3211008 X 0 1 X 1 0 X X 1 SAINT PETER'S UNIVERSITY 221508627 2 1 1097118 0 1 1097118 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE A, PART IV, SECTION A, LINE 2: THE SUPPORTED ORGANIZATION, SAINT PETER'S UNIVERSITY, DOES NOT HAVE ITS OWN IRS DETERMINATION OF STATUS BECAUSE IT IS A SUBORDINATE ORGANIZATION OPERATED BY THE ROMAN CATHOLIC CHURCH IN THE UNITED STATES AND IS UNDER THE GROUP TAX EXEMPTION OF THE UNITED STATES CONFERENCE OF CATHOLIC BISHOPS. THE PARENT ORGANIZATION HAS REPRESENTED THAT ITS SUBORDINATES QUALIFY AS TAX EXEMPT UNDER SECTION 501(C)(3) AND THAT NONE OF ITS SUBORDINATE ORGANIZATIONS ARE A PRIVATE FOUNDATION. AS A SECTION 501(C)(3) TAX EXEMPT UNIVERSITY, THE SUPPORTED ORGANIZATION APPEARS TO QUALIFY AS PUBLICLY SUPPORTED UNDER SECTION 509(A)(1) AND 509(A)(2). 0 X PART X, LINE 2: IGNATIUS HALL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND A SIMILAR PROVISION UNDER STATE LAW THROUGH A GROUP EXEMPTION THROUGH THE ARCHDIOCESE OF NEWARK. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 0 0 0 0 0 0 0 0 0 EUGENE J CORNACCHIA PHD TRUSTEE 0 465885 0 50000 0 0 0 45794 0 59360 0 621039 0 0 PAUL CIRAULO TRUSTEE 0 207060 0 0 0 0 0 6212 0 65 0 213337 0 0 PART I, LINE 3 THE ORGANIZATION DOES NOT HAVE ANY PAID EMPLOYEES. ALL COMPENSATION REPORTED ON SCHEDULE J PART II IS PAID BY A RELATED PARTY. THE RELATED PARTY UTILIZES THE FOLLOWING TO ENSURE ALL COMPENSATION IS REASONABLE: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY/STUDY, AND APPROVAL BY THE COMPENSATION COMMITTEE. NET ASSETS 2024-06-30 3211008 NET BOOK VALUE 221508627 SAINT PETER'S UNIVERSITY 2641 KENNEDY BOULEVARD JERSEY CITY NJ 07306 501(C)(3) 0 0 0 0 1 0 0 0 0 FORM 990, PART III, LINE 3 ON MAY 8, 2024, THE BOARD OF TRUSTEES AUTHORIZED A PLAN OF DISSOLUTION AND TRANSFERRED ALL ASSETS TO SAINT PETER'S UNIVERSITY, A RELATED 501(C)(3) PUBLIC CHARITY. FORM 990, PART VI, SECTION A, LINE 2 EUGENE J. CORNACCHIA, PH.D., TRUSTEE, AND PAUL CIRAULO, TRUSTEE, HAVE A BUSINESS RELATIONSHIP AS THEY ARE BOTH EMPLOYED BY A RELATED ORGANIZATION FOR WHICH THEY ALSO SERVE AS OFFICERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THIS ORGANIZATION IS A SUPPORTING ORGANIZATION ("AFFILIATE") OF SAINT PETER'S UNIVERSITY ("UNIVERSITY"), A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. THE ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY - ITS BOARD OF TRUSTEES - PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. IN ADDITION, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW OF THE FEDERAL FORM 990. THE ORGANIZATION'S BOARD OF TRUSTEES HAS DELEGATED TO THE UNIVERSITY'S AUDIT COMMITTEE THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FEDERAL FORM 990 PREPARATION, REVIEW AND FILING PROCESS FOR THE UNIVERSITY AND ITS AFFILIATE. AS PART OF THE TAX RETURN PREPARATION PROCESS, THE UNIVERSITY HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND KNOWLEDGE IN BOTH EDUCATION AND NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE UNIVERSITY'S FINANCE PERSONNEL TO OBTAIN THE INFORMATION NEEDED TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 WITH INFORMATION PROVIDED BY MANAGEMENT AND FURNISHED IT TO THE UNIVERSITY'S FINANCE PERSONNEL FOR REVIEW AND ANY NECESSARY REVISIONS WERE MADE TO THE DRAFT. FOLLOWING THE FINALIZATION OF THE REVIEW AND APPROVAL OF THE FORM 990 BY THE FINANCE PERSONNEL, THE UNIVERSITY'S AUDIT COMMITTEE PERFORMED A DETAILED REVIEW. IN CONJUNCTION WITH THE AUDIT COMMITTEE MEETING WHEREIN THE FORM 990 WAS PRESENTED AND DISCUSSED, THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY AND APPROVED FOR FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12 THIS ORGANIZATION IS A SUPPORTING ORGANIZATION OF SAINT PETER'S UNIVERSITY ("UNIVERSITY"), A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. THIS ORGANIZATION HAS NOT YET ADOPTED ITS OWN CONFLICT OF INTEREST POLICY, HOWEVER, ALL MEMBERS OF THIS ORGANIZATION'S BOARD OF TRUSTEES ADHERE TO THE UNIVERSITY'S CONFLICT OF INTEREST POLICY AND COMPLETE THE NECESSARY QUESTIONNAIRE. THE UNIVERSITY AND THIS ORGANIZATION REGULARLY MONITOR AND ENFORCE COMPLIANCE WITH THIS CONFLICT OF INTEREST POLICY. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE UNIVERSITY'S SECRETARY TO THE BOARD FOR REVIEW. THEREAFTER, THE UNIVERSITY'S SECRETARY TO THE BOARD PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL-BY-INDIVIDUAL BASIS. IF APPLICABLE, THE SECRETARY TO THE BOARD PRESENTS THIS SUMMARY TO THE UNIVERSITY'S EXECUTIVE COMMITTEE FOR ITS REVIEW, DISCUSSION, INVESTIGATION, AND IMPLEMENTATION OF ANY NECESSARY MITIGATING BEHAVIOR. FORM 990, PART VI, SECTION B, LINE 15 ALTHOUGH THIS ORGANIZATION HAS NO PAID EMPLOYEES, COMPENSATED INDIVIDUALS REPORTED IN FORM 990 PART VII AND SCHEDULE J ARE EMPLOYEES OF SAINT PETER'S UNIVERSITY ("UNIVERSITY"), A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. THE UNIVERSITY'S BOARD OF TRUSTEES HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE ORGANIZATION'S PRESIDENT WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON A CONTRACT RENEWAL BASIS WITH PERFORMANCE BONUSES REVIEWED AND APPROVED ANNUALLY. THE COMMITTEE ENSURES THAT THE "TOTAL COMPENSATION" OF THE PRESIDENT OF THE ORGANIZATION IS REASONABLE. THE COMMITTEE OBTAINS AND RELIES UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES, EACH OF WHOM IS INDEPENDENT AND FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE REPORTS DIRECTLY TO THE UNIVERSITY'S BOARD OF TRUSTEES WHEREIN ALL DISCUSSIONS AT THE COMMITTEE LEVEL ARE DOCUMENTED IN WRITTEN MEETING MINUTES OF THE FULL BOARD OF TRUSTEES. THE COMPENSATION AND BENEFITS OF OTHER EXECUTIVES REPORTED IN FORM 990 PART VII AND SCHEDULE J OF THIS FORM 990 ARE REVIEWED ANNUALLY BY THE PRESIDENT WITH ASSISTANCE FROM THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH THE INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE UNIVERSITY. OTHER OBJECTIVE FACTORS INCLUDE MARKET STRATEGY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS, AND PERFORMANCE FEEDBACK MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND SAINT PETER'S UNIVERSITY'S CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT THE MANAGEMENT'S DISCRETION. FORM 990, PART XI, LINE 9: NET ASSETS TRANSFERRED TO SAINT PETER'S UNIVERSITY -3,211,008. SAINT PETER'S UNIVERSITY 2641 KENNEDY BOULEVARD JERSEY CITY NJ 07306 221508627 HIGHER EDUCATION NJ 501(C)(3) LINE 2 N/A 0 SPJC MANAGEMENT 2641 KENNEDY BOULEVARD JERSEY CITY NJ 07306 201447046 INACTIVE NJ SAINT PETER'S UNIVERSITY C 0 ST PETER'S UNIVERSITY EVENTS COMPANY 2641 KENNEDY BOULEVARD JERSEY CITY NJ 07306 472969571 TO SUPPORT SAINT PETER'S UNIVERSITY NJ SAINT PETER'S UNIVERSITY C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1