| FORM 990, PART III, LINE 4A |
The primary program is undergraduate instruction in the liberal arts leading to a Bachelor of Arts degree. The curriculum includes programs in the arts, sciences, social sciences and humanities. The program emphasize academic breadth and depth supported by essential foundational skills, such as critical thinking, clear communication, and careful analysis and synthesis of information, that are relevant in every line of work and study. Of the 6,622 students who applied for the first-year class that enrolled in Fall 2017 (Fiscal 2018), forty percent (or 2,622) were admitted and 819 opted to enroll. The entering class was nearly balanced between men and women as 48 percent was male and 52 percent was female. The first-year entering class represented students from 33 states, the District of Columbia, and 10 foreign countries. Full-time enrollment totaled 3,020 in Fall 2017, with 739 of those students graduating during the fiscal year nearly all in May 2018. Approximately 23 percent of the Colleges full-time enrollment consisted of Asian, African-American, Hawaiian, Hispanic, or Native-American students and an additional 3 percent consisted of international students. |
| FORM 990, PART VI, SECTION A, LINE 1A |
The College's Executive Committee is subordinate to the Board of Trustees. However, between meetings of the Board of Trustees, the Executive Committee has all the powers and duties of the Board of Trustees except to approve or authorize changes in the articles of incorporation or bylaws; to remove or elect officers of the corporation or the President of the College; to effect any major change in the nature of the operations of the College; to authorize any mortgage or encumbrance on all or any substantial part of the property of the corporation; or to confer honors or degrees. Executive Committee members are members of the Board of Trustees. The Committee for the year ended June 2018 included; Philip L. Boroughs S.J., Anne M. Fink, James G. Gartland, S.J., John J. Mahoney, Jr. and Richard H. Patterson. |
| FORM 990, PART VI, SECTION A, LINE 2 |
Trustees are sometimes invested in funds that may be managed by other trustees. Such relationships were entered into during the normal course of the investment funds operations. |
| FORM 990, PART VI, SECTION B, LINE 11B |
The draft Form 990 is provided to the Audit Committee of the Board of Trustees sufficiently in advance of the filing deadline to enable a detailed and conscientious review by all members of the committee with management and the College's tax advisor. All questions and concerns of the Audit Committee members are addressed and incorporated into the Form 990 as appropriate. After the Audit Committee review, all members of the Board of Trustees are provided with the completed Form 990 in advance of the filing deadline via a dedicated College website. All questions and concerns of the members of the Board of Trustees are addressed by the College Treasurer and incorporated into the Form 990 as appropriate. After all input from the Board of Trustees and the Audit Committee has been appropriately addressed, the Treasurer of the College authorizes the Colleges tax advisor to file the Form 990. |
| FORM 990, PART VI, SECTION B, LINE 12C |
All officers, trustees and key employees assume responsibility for considering possible conflicts of interest that arise during service with the College. To help officers, trustees, and key employees identify possible conflicts of interest, the College has developed a disclosure form that must be completed and updated at least annually during the course of their service. Officers, trustees, and key employees must also disclose any conflict of interest as soon as they become aware of any conflict. The College's General Counsel will review the disclosures and report conflicts of interest to the Chairman of the Board of Trustees and the Audit Committee. The Audit Committee considers the best interests of the College and the nature of the conflict. The Audit Committee evaluates the circumstances of the issue or transaction to ensure that it is reasonable and that they have considered any potential implications of entering into a transaction or deciding an issue where a conflict exists. The Audit Committee may consider whether advice from legal counsel or other independent advisors is necessary in particular instances. The Audit Committee will deliberate the reported conflict and vote to make one of two determinations: that no material conflict of interest exists and no action is necessary or that a material conflict of interest does exist and determine how to address the identified conflict. These findings will be communicated to the Chairman of the Board of Trustees and the board meeting minutes shall reflect the nature of the conflict and the Audit Committee's determination with respect to the specific procedures the member will follow regarding the issue or transaction. |
| FORM 990, PART VI, SECTION B, LINE 15A AND B |
The bylaws (Article 2, Section 6) of the College establish that the Board of Trustees has the authority to hire, employ, and set the remuneration of the President and officers of the corporation. The Executive Committee, an independent authorized body of the Board of Trustees, has been assigned the responsibility for evaluating compensation reasonableness for all officers and highly paid employees. The Executive Committee is composed of five to six members and includes the President who is ex-officio chair and a member of the committee. The Executive Committee reviews the entire compensation package including benefits by assessing the nature and scope of each position, assessing the individuals holding each position including their unique background, experience, personal skills, performance and by obtaining appropriate and comparable compensation market data from similarly situated organizations, both for-profit and tax exempt for functionally comparable positions including comparative data from other colleges and universities, market surveys and independent compensation surveys by nationally recognized independent firms. In addition, the Executive Committee retains an independent compensation consultant annually, to review executive compensation. The Executive Committee deliberates the information provided and relative contribution of each individual before voting on a compensation package. Compensation for the President, a member of the Society of Jesus, is paid directly to his order. Records of the Executive Committee are adequately documented. |
| FORM 990, PART VI, SECTION C, LINE 19 |
The College's governing documents, articles of incorporation and bylaws are available upon request. The conflict of interest policy is also available upon request. The Colleges financial statements are posted on the College website under the Office of the Controller. |
| FORM 990, PART X, LINE 11 |
On the Form 990, the College includes in the category of publicly traded securities certain investments valued using net asset value as the practical expedient when the underlying investments are publicly traded. These assets may be held in private equity funds or other similar vehicles. |
| FORM 990, PART XI, LINE 9 |
POST RETIREMENT BENEFIT CHANGES $ 3,423,033 CHANGE IN INTEREST RATE SWAP AGREEMENT $ 2,122,570 GAIN ON DEBT DEFEASANCE $ 1,658,162 ---------------- TOTAL $7,203,765 |
Attach to Form 990 or 990-EZ.