2025-04-30T15:17:59-07:00 2024-06-30 990 2023-07-01 250496976 GANNON UNIVERSITY GANN 8148717000 109 University Square Erie PA 16541 Jennifer Lundy VP for Finance and Campus Operation 8148717000 2025-05-01 1 2023 2025-03-06 01:10:19Z Jennifer Lundy 109 University Square Erie PA 16541 174794202 0 X www.gannon.edu X 1925 PA Gannon University is an institution of post-secondary education with campuses in Erie, PA and Ruskin, FL, offering over 100 academic programs, including online and traditional Associate, Bachelor's, Master's, and Doctoral degrees to a Fall 2023 student enrollment of 4,548. 34 32 2191 40 143111 0 11944816 10438595 146633764 147686355 5224078 5847115 2187038 1856151 165989696 165828216 54599311 55095525 0 0 67802838 66641777 20675 0 1333933 38139767 41554460 160562591 163291762 5427105 2536454 317003426 324759772 112265115 111625988 204738311 213133784 1. Gannon is a Catholic, Diocesan University dedicated to excellence in teaching, scholarship, and service. Our faculty and staff prepare students to be global citizens through programs grounded in the liberal arts and sciences and professional specializations. Inspired by the Catholic intellectual tradition, we offer a comprehensive, values-centered learning experience that emphasizes faith, leadership, inclusiveness, and social responsibility. 0 0 124691854 55095525 132825879 Instruction and other supported programs: Gannon University is an institution of higher education providing associate, baccalaureate, and graduate education to 3,965 FTE students. The university employs approximately 238 full-time and 259 part-time faculty members. 10174424 0 15266681 Auxiliary Enterprises: Gannon University provides services to students and staff including primary residence hall accommodations for 1,293 students and associated food services during the academic year and summer sessions. 1802283 0 0 Public Service: The university supports several programs which benefit students as well as the general public. These services include a small business development center, a chamber orchestra, a leadership development program, and several programs whose goals include environmental and social concerns. 1013488 0 683495 Research 1013488 0 683495 137682049 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 4601 0 2191 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 34 32 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 FL PA X Matthew Turek 8148717213 109 University Square Erie PA 16541 Keith Taylor Executive Advisor, President Emeritus 40 0 X 525102 0 57597 Walter Iwanenko President 40 0 X X 356959 0 48590 Jennifer Lundy VP for Finance & Campus Operations 40 0 X 227042 0 27680 William Edmondson VP Enrollment 40 40 X 210931 0 40264 Sarah Ewing Provost 40 0 X 194415 0 26584 Mark Jordano Chief Information Officer 40 0 X 165597 0 50473 Karinna Vernaza Dean-College of Eng and Business 40 0 X 171618 0 38843 Davide Piovesan Associate Dean, Col. of Engineering and Business 40 0 X 154626 0 43765 Douglas Oathout Chief of Staff & Director of Marketing and Communications 40 0 X 159296 0 33214 Lynne Bianchi Director Medical Research Operations 40 0 X 154566 0 37619 Valerie Bacik Chief Institutional Planning 40 0 X 143240 0 27057 Nancy Bird VP of University Advancement 40 0 X 149939 0 19432 Kimberly Cavanagh Dean, College of Health Professions and Science 40 0 X 153829 0 10137 Mahesh Aggarwal Board Member/President Faculty Senate 40 0 X 135992 0 25786 Barbara Beuscher VP University Advancement until 4/28/2023 40 0 X 72974 0 14191 Walter W Cooper Board Member 2 0 X 0 0 0 Scott M Krall Board Member 2 0 X 0 0 0 Pierre McCormick Board Member 2 0 X 0 0 0 Robert P Barker Board Member 2 0 X 0 0 0 Candace D Battles Board Member 2 0 X 0 0 0 Richard E Beattie Board Member 2 0 X 0 0 0 Gerald Blanks Board Member 2 0 X 0 0 0 Tina M Donikowski Board Member 2 0 X 0 0 0 Rebecca Erwin-Cohen Board Member/National Alumni Board President 2 0 X 0 0 0 Dana M Fallon Board Member 2 0 X 0 0 0 Very Rev Michael Ferrick Board Member 2 0 X 0 0 0 James Fiorenzo Board Member 2 0 X 0 0 0 Gwendolyn M Garbarino Secretary 2 0 X X 0 0 0 James Grunke Board Member 2 0 X 0 0 0 Timothy J Hilty Board Member 2 0 X 0 0 0 Rev Scott W Jabo Board Member 2 0 X 0 0 0 Stacy M Juchno Board Member 2 0 X 0 0 0 Susan P Forquer Board Member 2 0 X 0 0 0 Mark J Minnaugh Vice Chairperson 2 0 X X 0 0 0 Rev Christopher J Singer Board Member 2 0 X 0 0 0 Richard G Orlando Board Member 2 0 X 0 0 0 Most Rev Lawrence T Persico Chairperson 2 0 X X 0 0 0 Joseph Pfeger Board Member/Student Government President 2 0 X 0 0 0 Kiran K Rajasenan Board Member 2 0 X 0 0 0 Rev Nicholas J Rouch Board Member 2 0 X 0 0 0 James J Rutkowski Board Member 2 0 X 0 0 0 Antoinette Spevetz Board Member 2 0 X 0 0 0 Monica Trott Board Member 2 0 X 0 0 0 Laura Vaccaro Board Member 2 0 X 0 0 0 Margaret A VanderLaan Board Member 2 0 X 0 0 0 Howard Ward Board Member 2 0 X 0 0 0 Mark Zagorski Board Member 2 0 X 0 0 0 2976126 0 501232 69 1 1 0 Metz and Associates LTD Two Woodland Drive Dallas PA 18612 Food service provider 4588038 Building Systems Inc 7335 Old Perry Highway Erie PA 16509 General contractor 3825629 Rabe Environmental Systems Inc 2300 West 23rd Street Erie PA 16506 HVAC and Plumbing 811807 Hammot Anesthesia Program 201 State Street Erie PA 16550 Educational Services 809155 Commercial Management Solutions 8 Bloomfield Parkway Erie PA 16509 Campus Management Services 679883 48 165719 0 0 0 6667345 3605531 781316 10438595 Tuition & Fees 611310 132354934 132354934 0 0 Auxiliary Enterprise 611310 15331421 15266681 0 64740 0 0 0 0 147686355 3279233 0 0 3279233 37805 0 0 37805 0 0 0 0 134567 0 62290 0 72277 0 72277 0 0 72277 11279357 154416 8600591 303105 2678766 -148689 2530077 0 0 2530077 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Bookstore Commission 900099 163118 0 0 163118 Wellness Center 900099 96995 0 96995 0 Advertising 541800 46116 0 46116 0 1477645 1154440 0 323205 1783874 165828216 148776055 143111 6470455 0 0 55095525 55095525 0 0 0 0 2046199 570943 1252343 222913 0 0 0 0 46648926 38961080 7037667 650179 2730842 2271656 409145 50041 12003395 9725380 2146212 131803 3212415 2722883 428308 61224 0 0 0 0 1355266 0 1355266 0 194780 0 194780 0 0 0 0 0 0 0 0 0 0 0 5856702 5082867 711652 62183 1747494 753925 991029 2540 2972821 2294013 588504 90304 2242690 877496 1365194 0 0 0 0 0 3397215 1062409 2334806 0 2722355 2494102 169254 58999 0 0 0 0 743023 701268 38577 3178 3560235 3560235 0 0 0 0 0 0 7400482 3737363 3663119 0 1370112 606589 763523 0 Cafeteria 3690657 3690657 0 0 Maintenance 1424325 1424325 0 0 Equipment 1316472 1236712 79760 0 Recruiting 145437 118816 26621 0 1414394 693805 720020 569 163291762 137682049 24275780 1333933 3896 4052 28169001 31132205 4134693 4976556 9480611 2787536 1067909 1442379 312265613 126033311 183615729 186232302 83700810 88757385 5644390 7283690 986141 875516 0 0 200246 1268151 317003426 324759772 10837788 10745799 8230708 9332680 90627710 88225563 478844 325085 2090065 2996861 112265115 111625988 X 145142214 147233591 59596097 65900193 204738311 213133784 317003426 324759772 2536454 5859019 0 0 0 0 X 0 1 X 1 1 1 X 12273807 13017581 15988610 11944816 10438595 63663409 12273807 13017581 15988610 11944816 10438595 63663409 1732 63661677 2399723 2194530 2264368 3123594 3451605 13433820 189260 148374 193969 182749 220708 935060 78032289 733201845 0.81584 0.81149 X Schedule A, Part II, Line 10 Other Income - 2019 Book Store Commission - $173,377, Miscellaneous Income $15,883; 2020 Bookstore Commission - $145,714, Miscellaneous Income $2,660; 2021 Bookstore Commission - $183,780, Miscellaneous Income $10,189; 2022 Bookstore Commission - $158,408, Miscellaneous Income - $24,341; 2023 Book Store Commission - $163,118, Miscellaneous Income - $ 57,590. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X 0 0 1 X 73905976 1279605 7186112 1701498 804369 0 79865826 70969021 1128751 4639530 1670250 1161076 0 73905976 83456950 1609726 -11514455 1507478 1075722 0 70969021 63539373 1080340 21317237 1753604 1120952 0 83062394 64597398 981057 1001918 1672040 1287396 0 63620937 0.27 0.501 0.229 0 0 0 14477697 14477697 0 241552567 93011606 148540961 0 0 0 0 0 44994564 31384953 13609611 0 11240785 1636752 9604033 186232302 0 Federal loan program 1506710 Operating lease obligations 1268151 Post-retirement benefit 222000 2996861 X 116654000 5859019 0 0 -55095525 -49236506 165890506 0 -62290 -62290 165828216 108258527 0 0 0 62290 62290 108196237 0 55095525 55095525 163291762 Schedule D, Part III, Line 1 The University follows a policy of not recording or capitalizing its collection of works of art, historical treasures, and similar assets. Schedule D, Part III, Line 4 Nash Library maintains the Gannon University archives which seeks to collect and preserve selected documents and artifacts related to the history of the University, particularly the achievements of the university faculty, students, and staff, as well as its relationship to the Catholic Diocese of Erie and the greater Erie community. Schedule D, Part IV, Line 2b Custodian for funds of student groups Schedule D, Part V, Line 4 The University endowment funds are invested over the longer time horizons to earn a return that supports programs of the University as described by donors. The endowment funds primarily support student scholarships, along with faculty research and development and other academic programs. Schedule D, Part X, Line 2 The University accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined there were no tax uncertainties that met the recognition threshold at June 30, 2024 and 2023. At June 30, 2024, the University had net operating loss carryforwards resulting from its unrelated business activities which may be applied against future years' taxable income. A valuation allowance has been recorded to offset the resulting deferred tax asset due to the uncertainty of the future use of these net operating losses. The University's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. Schedule D, Part XI, Line 2d Financial aid, $-55,095,525 Schedule D, Part XI, Line 4b Rent expense, $-62,290 Schedule D, Part XII, Line 2d Rent Expense $62,290 Schedule D, Part XII, Line 4b Financial aid, $55,095,525 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 Schedule E, Part I, Line 3 Gannon University website Schedule E, Part I, Line 6 The University receives various federal grants directly from the U.S. Department of Education, such as Pell grants, Supplemental Education Opportunity Grants (SEOG), and College Work-Study funds. The University also receives grants from the Commonwealth of Pennsylvania, such as PHEAA grants and Institutional Assistance Grant (IAG). The University was awarded a federal capital contribution from the U.S. Department of Health and Human Services for the Nursing Student Loan Program. There are two programs, the baccalaureate and associate nursing. The University's Associate Student Loan Program has been terminated due to noncompliance with the default rate regulations as of June 30, 1993. During fiscal year 2012 the University reimbursed the governmental share of all outstanding loans under the program. Central America and the Caribbean 0 0 Investments 1899964 0 0 1899964 1 0 0 0 0 0 1 Student Grants and Scholarships 2315 55095525 0 Schedule I, Part I, Line 2 The University awards scholarships to freshman and transfer students who meet eligibility standards for merit-based aid such as academic and leadership awards. In addition, need-based aid is considered for students who demonstrate financial need by filing the required applications and adhering to deadlines. Award packages are renewed each year to students who remain in academically good standing and continue to meet the required eligibility standards for both types of merit and need-based aid. Students need not apply for specific scholarships since they will automatically receive consideration for all funds for which they may be eligible when they submit the FAFSA. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Keith Taylor Executive Advisor, President Emeritus 464294 0 0 0 60808 0 24274 0 30359 0 579735 0 0 0 Walter Iwanenko President 329564 0 0 0 27394 0 41072 0 23752 0 421782 0 0 0 Jennifer Lundy VP for Finance & Campus Operations 226562 0 0 0 480 0 17250 0 11069 0 255361 0 0 0 William Edmondson VP Enrollment 186767 0 0 0 24164 0 16200 0 21424 0 248555 0 0 0 Mark Jordano Chief Information Officer 164147 0 0 0 1450 0 17600 0 42336 0 225533 0 0 0 Sarah Ewing Provost 194072 0 0 0 343 0 14907 0 9882 0 219204 0 0 0 Karinna Vernaza Dean-College of Eng and Business 170790 0 0 0 828 0 13628 0 16720 0 201966 0 0 0 Douglas Oathout Chief of Staff & Director of Marketing and Communications 158244 0 0 0 1052 0 11400 0 16451 0 187147 0 0 0 Davide Piovesan Associate Dean, Col. of Engineering and Business 154372 0 0 0 254 0 12000 0 20703 0 187329 0 0 0 Lynne Bianchi Director Medical Research Operations 153385 0 0 0 1181 0 11990 0 20355 0 186911 0 0 0 Valerie Bacik Chief Institutional Planning 141635 0 0 0 1605 0 14700 0 10207 0 168147 0 0 0 Nancy Bird VP of University Advancement 149299 0 0 0 640 0 11152 0 8681 0 169772 0 0 0 Kimberly Cavanagh Dean, College of Health Professions and Science 153266 0 0 0 563 0 9584 0 1533 0 164946 0 0 0 Barbara Beuscher VP University Advancement 70473 0 0 0 2501 0 5473 0 7087 0 85534 0 0 0 Schedule J, Part I, Line 1a Travel for Companions - the President's spouse attends the annual meeting of the Council of Independent Colleges (CIC) because there is a spousal component of the meeting. This is not included in taxable compensation. Tax Indemnification and Gross-Up Payments - This is done on a rare occasion and for very small amounts; usually to correct an error. Housing allowance or residence for Personal Use - The President receives a housing allowance as part of his compensation package and it is included in his taxable compensation. Health or Social Club Dues or Initiation Fees - the University pays dues for social memberships for the President and Vice President of University Advancement. The memberships are used for business purposes of the University. Schedule J, Part I, Line 4 Walter Iwanenko's 457(f) plan $20,000 contribution from Gannon University, Walter is fully vested in all employer contributions for 457(f) plan. This is the final payment of five based on compensation agreement with Walter and the University. A City of Erie Higher Education Building Authority 251536711 295437GD2 2010-07-28 8500000 See Part VI 0 0 0 B City of Erie Higher Education Building Authority 251536711 295435BA8 2013-04-25 15758896 See Part VI 0 0 0 C City of Erie Higher Education Building Authority 251536711 295435BB6 2016-11-17 31131351 See Part VI 0 0 0 D Public Finance Authority 273866124 74445FAJ3 2017-09-20 22756200 See Part VI 0 0 0 A 4982754 0 8500000 454314 0 0 0 0 0 8087536 0 0 2011 0 0 1 1 B 4590000 0 15758896 1062820 0 0 208896 0 0 14500000 0 0 2014 0 0 1 1 C 900000 0 31131351 0 0 0 370958 0 0 16247697 14512696 0 2018 0 1 1 1 D 0 0 22756200 0 1588377 0 567823 0 0 20600000 0 0 2019 0 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 1 1 0 0.025 0 0.025 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Column f-07/28/2010 8,500,000 City of Erie Higher Education Building Authority The project will consist of: (A) the construction of (i) an approximately 293-bed student housing facility on the campus and (ii) site and infrastructure improvements and other miscellaneous capital improvements to existing facilities and acquisition of capital equipment for use in or in connection with the facilities; (B) Capitalized interest on the Series 2010 bonds to July 1, 2011; (C) a debt service reserve fund for the Series 2010 bonds; and (D) Costs relating to the issuance of the Series 2010 bonds. Schedule K, Part I, Column f-04/25/2013 15,758,896 City of Erie Higher Education Building Authority The Project will consist of (I) the acquisition, design, construction, renovation, equipping and furnishing of new facilities and existing facilities of the borrower located on the existing campus of the borrower or property currently owned or to be purchased by the borrower, including, but not limited to, renovation of the Recreation Center and construction of a fieldhouse and indoor turf field, together with certain site and infrastructure improvements and other miscellaneous capital improvements to existing facilities of the borrower and acquisition of capital equipment for use in or in connection with the borrower's facilities (the "2013 capital additions"); (II) Funding a 2013 debt service reserve fund for the Series 2013 bonds; and (III) the payment of the costs of issuing the Series 2013 bonds. Schedule K, Part I, Column f-11/17/2016 31,131,351 City of Erie Higher Education Building Authority The project consists of : (I) The advance refunding of the City of Erie Higher Education Authority's Revenue Bonds, Series 2007 GG3 currently outstanding in the amount of $16,500,000, the proceeds of which were utilized for renovations and capital improvements to educational buildings located on the borrower's campus; (II) The interior demolition of the existing library and the design, construction, equipping and furnishing of the borrower's library facilities, together with other site and infrastructure improvements and other miscellaneous capital improvements to existing facilities of the borrower and acquisition of capital equipment for use in or in connection with the borrower's facilities; (III) Payment of certain costs of issuing the 2016 bonds. Schedule K, Part I, Column f-09/20/2017 22,756,200 Public Finance Authority The project consists of : (I) The acquisition, construction, furnishing and equipping of a new academic building; (II) The renovation, improvement, furnishing and equipping of an existing academic building; (III) Acquisition, construction, installation, renovation, and improvement of all related fixtures, furnishings, equipment, parking facilities, utility facilities, building and site improvements, and site acquisition and other miscellaneous capital expenditures all located at 105 Commercial Drive, Ruskin, Fl 33573. A City of Erie Higher Education Building Authority 251536711 295435CT6 2021-04-22 26048556 See Part VI 0 0 0 A 825000 0 26048556 0 1714237 0 310407 0 0 13444076 10579836 0 2022 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 Schedule K, Part I, Column f-04/22/2021 26,048,556 City of Erie Higher Education Building Authority The proceeds of the sale of the Bonds will be used to finance all or a portion of the costs of the (i) current refunding of all or a portion of the Authority's Revenue Bonds (Gannon University Project) Series 2010A (the "2010A Bonds"), (ii) the payment of, or reimbursement to the Borrower of, certain expenditures for the renovation and equipping of the existing South Hall building as a student residence and other miscellaneous capital expenditures (the "Capital Project"), (iii) the funding of interest payable during construction, and (iv) the payment of certain costs of issuance of the Bonds. Various Officers 38725 Tuition Assistance Educational costs Mary Iwanenko Spouse of the President 87539 Salary and Fringe Benefits 0 Mary Jean Taylor Spouse of the prior President 49793 Salary and fringe benefits 0 Schedule L, Part IV The President and Executive Advisor do not supervise Ms. Iwanenko or Ms. Taylor, and they do not participate in determination of the spouses' compensation. X 2000 Thrift Store X 10 709116 NYSE X Construction Material 1 70200 Retail Value 0 0 1 0 Schedule M, Part I Column (B): Reporting number of contributors in Part I, Column (B) Form 990, Part VI, Section A, Line 7a The Bishop of the Roman Catholic Diocese of Erie has the sole and exclusive power and authority to approve nominations to the Board of Trustees, and to the offices of the Vice Chairperson and Secretary. Form 990, Part VI, Section A, Line 7b The Bishop of the Roman Catholic Diocese of Erie has the sole and exclusive power and authority to: Establish the mission and philosophy according to which the University operates. The doctrinal and moral holdings of the Catholic faith as enunciated by the teaching office of the Church, the Magisterium, are the philosophy by which the mission of the university as well as of its Catholic identity shall be preserved; Amend the Corporate Charter and Bylaws; Approve nominations to the Board of Trustees, and to the offices of Vice Chairperson and Secretary; Lease or sell corporate assets in excess of $100,000 or encumber corporate assets with liens of more than $100,000; Merge or dissolve the corporation. Form 990, Part VI, Section B, Line 11b A copy of Form 990 is provided to all members of the Board of Trustees and management before it is filed. The Audit Subcommittee of the Board of Trustees is delegated the responsibility of review of the Form 990 before it is filed. The University's independent audit firm (Baker Tilly Advisory Group, LP.) also reviews the form. Form 990, Part VI, Section B, Line 12c Gannon has two conflict of interest policies: one for members of the Board of Trustees and one for employees. Each Board Member is required to complete a conflict-of-interest form at the September Board meeting. These are gathered by the President's Office. The Risk Management Coordinator analyzes the disclosures made with the assistance of the Controller and Vice President for Finance and Campus Operations and prepares a summary of any relationships disclosed. Family and business relationships are stated in the policy as sources of potential conflicts. All employees are required to sign a conflict-of-interest form upon hire. If any relationships are disclosed a copy of the form is sent to be analyzed by the Risk Management Coordinator. Key employees are required to complete and update the form annually. In May of each year, the list of key employees is analyzed and updated as necessary by the Risk Management Coordinator with the assistance of the Vice President for Finance and Campus Operations. In December of each year, the forms are sent to the individuals identified as key employees. The completed forms are then analyzed by the Risk Management Coordinator, Controller and Vice President for Finance and Campus Operations and a summary is prepared of any relationships disclosed. Both summaries are then presented to the Audit Subcommittee of the Board of Trustees at the February meeting. If Board of Trustees members report a relationship conflict, they would recuse themselves from decisions related to those transactions. Form 990, Part VI, Section B, Line 15 The Evaluation/Executive Compensation Committee of the Board of Trustees meets regularly to consider compensation packages of the President and Vice Presidents and to approve any changes to current written employment contracts. The Committee reviews the compensation surveys, comparable industry compensation data, and 990's from comparable institutions. As it relates to the President, the Committee engages an independent consultant. The methods used are to assure that compensation is within fair market value for the industry. Minutes are kept for Committee meetings. Form 990, Part VI, Section C, Line 19 The University makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.