St John'S University New York

“The form 990 is reviewed by the audit and risk committee of the board of trustees and is made available to the entire board of trustees prior to filing with the irs.”

“The university monitors and enforces compliance with its conflict of interest policy by obtaining signed and dated conflict of interest statements from officers and members of the board of trustees on an annual basis. Any trustee with an interest in a proposed transaction is required to make a full disclosure of all material facts as soon as he/she becomes aware of the proposed transaction, and he/she may not participate in any deliberation or vote, or exercise any influence with regard to the proposed transaction.”

“An external consultant is contracted to compile survey data from educational, not-for-profit and peer institutions as well as information on other form 990s to establish comparable compensation ranges. The president's compensation is recommended by the consultant, reviewed by the governance committee of the board of trustees and presented to the board of trustees for approval. Management's recommendations of officers' compensation are approved by the governance committee. The university's compensation review and approval process is recorded contemporaneously in the minutes. The last review was completed in december 2019. There were no salary increases in fiscal year 2021, as such a review was not completed in december 2020.”

“As a private university, governing documents, conflict of interest policy, and financial statements are not required to be made available to the public. However, the university makes available its governing documents and conflict of interest policy on its website. In addition, the university's form 990, which includes financial data, is made available upon request.”

“Pursuant to an agreement with the congregation of the mission of st. Vincent de paul, compensation for rev. Bernard m. Tracey, c.m., executive vice president for mission, is paid directly to the congregation of the mission. Pursuant to an agreement with the dominican friars province of saint joseph, compensation for rev. Brian j. Shanley, president, is paid directly to the dominican friars province.”

“During the fiscal year ended may 31, 2021, the university received an allocation from the higher education emergency relief fund (heerf) under the coronavirus response and relief supplemental appropriations (crrsa) act of $20,127,659, which included $6,095,940 to provide emergency aid to eligible students and $14,031,719 for allowable institutional uses. Heerf allocations recognized as revenues for the year ended of may 31, 2021 and included in part viii, line 1e, government grants is $21,124,877 representing $19,726,323 from the crrsa act and $1,398,554 from the coronavirus aid, relief, and economic security (cares) act. The university also received a heerf allocation under the american rescue plan (arp) act of $35,688,880, which included $17,855,372 to provide emergency aid to eligible students and $17,833,508 for allowable institutional uses. As of may 31, 2021, no amounts were drawn, distributed to students, and recognized as revenue.”

“Change in fair value of interest rate swap 1,482,112. Effect of refunding of long-term debt -1,287,188.”

“The consolidated audited financial statements as of and for the year ended may 31, 2021 have been prepared by st. John's university and include the university and its affiliates - st. John's paris association, the rome srl, and henley road spe, llc. The university's audit and risk committee assumes responsibility for oversight of the audit of the university's financial statements and selection of the university's independent auditors.”

“St. John's university is amending its 2020 form 990 to modify a disclosure in schedule j, part iii.”