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ObjectId: 201501349349306240 - Submission: 2015-05-14
TIN: 23-1352661
Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
Attach to Form 990.
See separate instructions.
Information about Schedule K (Form 990) and its instructions is at
www.irs.gov/form990
.
OMB No. 1545-0047
20
13
Open to Public
Inspection
Name of the organization
MESSIAH COLLEGE
Employer identification number
23-1352661
Part I
Bond Issues
(a)
Issuer name
(b)
Issuer EIN
(c)
CUSIP #
(d)
Date issued
(e)
Issue price
(f)
Description of purpose
(g)
Defeased
(h)
On
behalf of
issuer
(i)
Pool
financing
Yes
No
Yes
No
Yes
No
A
PHEFA Revenue Bonds Series 2005 DD1
23-2243852
70917N3Y8
05-04-2005
31,082,980
See Part VI
X
X
X
B
PHEFA Revenue Bonds Series 2012 LL3
23-2243852
70917R8H1
11-14-2012
12,333,026
See Part VI
X
X
X
C
Cumberland County Municipal Authority
AICUP Financing Program - Series 2014 T1
23-6003119
230614GU7
05-21-2014
4,744,305
Frey Hall Expansion/See Part VI
X
X
X
Part II
Proceeds
A
B
C
D
1
Amount of bonds retired
.................
22,750,000
0
0
2
Amount of bonds legally defeased
...........
0
0
0
3
Total proceeds of issue
..................
31,082,980
12,333,026
4,744,305
4
Gross proceeds in reserve funds
............
0
0
0
5
Capitalized interest from proceeds
............
0
0
0
6
Proceeds in refunding escrows
............
0
0
0
7
Issuance costs from proceeds
............
329,995
130,269
84,886
8
Credit enhancement from proceeds
............
531,931
0
0
9
Working capital expenditures from proceeds
............
0
0
0
10
Capital expenditures from proceeds
............
88,336
1,615,859
758,827
11
Other spent proceeds
............
30,132,719
10,586,898
0
12
Other unspent proceeds
............
0
0
3,900,592
13
Year of substantial completion
............
2006
2013
2014
Yes
No
Yes
No
Yes
No
Yes
No
14
Were the bonds issued as part of a current refunding issue?
.....
X
X
X
15
Were the bonds issued as part of an advance refunding issue?
....
X
X
X
16
Has the final allocation of proceeds been made?
............
X
X
X
17
Does the organization maintain adequate books and records to support the final allocation of proceeds?
............
X
X
X
Part III
Private Business Use
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
1
Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds?
.......
X
X
X
2
Are there any lease arrangements that may result in private business use of bond-financed property?
........
X
X
X
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Page 2
Schedule K (Form 990) 2013
Page
2
Part III
Private Business Use
(Continued)
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
3a
Are there any management or service contracts that may result in private business use of bond-financed property?
............
X
X
X
b
If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?
c
Are there any research agreements that may result in private business use of bond-financed property?
..................
X
X
X
d
If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?
4
Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government
.....
0 %
0 %
0 %
5
Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government
..........
0 %
0 %
0 %
6
Total of lines 4 and 5
............
0 %
0 %
0 %
7
Does the bond issue meet the private security or payment test?
....
X
X
X
8a
Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were
issued?
............
X
X
X
b
If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
c
If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2?
............
9
Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2?
.......
X
X
X
Part IV
Arbitrage
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
1
Has the issuer filed Form 8038-T?
.....
X
X
X
2
If "No" to line 1, did the following apply?
....
a
Rebate not due yet?
.....
X
X
X
b
Exception to rebate?
.....
X
X
X
c
No rebate due?
.......
X
X
X
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3
Is the bond issue a variable rate issue?
....
X
X
X
4a
Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?
X
X
X
b
Name of provider
.....
c
Term of hedge
.........
d
Was the hedge superintegrated?
.....
e
Was the hedge terminated?
........
Schedule K (Form 990) 2013
Page 3
Schedule K (Form 990) 2013
Page
3
Part IV
Arbitrage
(Continued)
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
5a
Were gross proceeds invested in a guaranteed investment contract (GIC)?
X
X
X
b
Name of provider
........
c
Term of GIC
........
d
Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied?
......
6
Were any gross proceeds invested beyond an available temporary period?
X
X
X
7
Has the organization established written procedures to monitor the requirements of section 148?
.....
X
X
X
Part V
Procedures To Undertake Corrective Action
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?
X
X
X
Part VI
Supplemental Information.
Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference
Explanation
Schedule K, Part I, Column f-05/04/2005 31,082,980 PHEFA Revenue Bonds Series 2005 DD1
Proceeds of the issue were used to finance the costs of: (i) the advance refunding of a portion of the Cumberland County Municipal Authority's College Revenue Bonds, Series 1995; (ii) certain miscellaneous capital expenditures including, without limitation, construction, improvements, and equipping of campus facilities; and (iii) payment of certain costs of issuing and insuring the Bonds.
Schedule K, Part I, Column f-11/14/2012 12,333,026 PHEFA Revenue Bonds Series 2012 LL3
PHEFA Revenue Bonds, Series 2012 LL3: Proceeds of this issue were used to fund: (i) the advance refunding of the Authority's Revenue Bonds (Association of Independent Colleges and Universities of Pennsylvania Financing Program Messiah College Project), Series 2003 AA3, the proceeds of which were used to finance or refinance various facilities on the College's campus; (ii) reimbursement to the College for costs of an addition to or renovations of the library and construction of a performing arts center, and certain additional miscellaneous capital expenditures relating to campus and (iii) the payment of certain costs of issuing the Bonds.
Schedule K, Part I, Column f-05/21/2014 4,744,305 Cumberland County Municipal Authority
Proceeds of this issue were used to finance certain costs of renovations and improvements to an academic building in order to accommodate the expansion of the engineering programs; construction and installation of other miscellaneous capital improvements to existing facilities and acquisition of capital equipment for use in or in connection with campus facilities; and payment of certain costs of issuing the Bonds.
Schedule K (Form 990) 2013
Additional Data
Software ID:
13000241
Software Version:
v1.00