University of Scranton

“The president of the university, rev. Kevin p. Quinn, s.j. And the vice president for university ministries, rev. Richard g. Malloy, s.j. Are members of the scranton jesuit community and the maryland province of the society of jesus. Other clergy that are members of the board of trustees may also be members of the maryland province of the society of jesus.”

“The form 990 is prepared in-house based upon the amounts reported in the audited financial statements. The draft form 990 is completed by treasurer's office personnel and is reviewed by independent tax advisors and by the university's senior vice president (svp) for finance and administration before being sent to the audit committee for review. The audit committee has approximately a one-week period prior to the regularly scheduled board meeting to comment on the draft and appropriate revisions are made based upon those comments. The revised draft is then made available to the full board of trustees on a secure university website. At the regular board meeting the board formally adopts the form 990 as final and authorizes the university's svp for finance and administration to file the form 990 with the irs. An identical and simultaneous process is followed to file the university's annual form 990-t.”

“The university's secretary to the board of trustees explains and collects completed conflict of interest statements. The statements are disseminated to members of the board of trustees, officers, those involved in managing facilities and procurement, and individuals managing grant-funded projects. These statements are reviewed by the secretary and the internal auditor. The secretary attends all board meetings where actions are voted upon to ensure that individuals with potential or actual conflicts refrain from 1) participating in discussion, 2) being present during a vote, or 3) voting upon the matter involving the potential or actual conflict of interest.”

“The executive compensation committee of the board of trustees reviews appropriate analyses and studies prepared by the human resources office or external sources to aid in evaluating compensation and benefits and strategies to assure they are appropriate to attract and retain qualified personnel for senior executive administrative positions. The committee annually reviews and approves compensation and benefits for senior administrators and officers of the university. This review is documented and includes comparable market data for positions at other higher education institutions. The committee reports to the executive committee the total compensation paid the university's president and vice presidents. The committee reviews the recommendations of, and advises, the president as to individual contracts that are above and beyond the scope of the university's base compensation and benefits structure.”

“The university makes its governing documents, conflicts of interest policy, and financial statements available to the public. Much of this information is also available in the university's annual information return on form 990 filed with the internal revenue service. The form 990 and the other documents noted above are available to the public at the university's treasurer's office. The form 990 is also available to the public online at "www.guidestar.org."”

“The university's president is a member of the society of jesus. Members of the society of jesus take a vow of poverty. Compensation for this university officer position is paid directly to his order which is exempt under section 501(c)(3). Under rev. Rul. 77-290 members of a religious order providing services to a catholic organization will be considered for tax purposes to be an agent of the order provided; 1) the religious order is subject to a vow of poverty, 2) the religious order is providing services for a catholic organization listed in the official catholic directory at the direction of his superior and 3) the full amount of compensation is remitted to the tax exempt order by the organization.”

“The university has entered into joint venture arrangements with two private education companies to provide technical, recruitment, and marketing support for its online mba and online graduate education degree programs. The university evaluates all potential joint ventures to determine whether the activities will generate unrelated business income. The treasurer's office is involved in discussions with potential business partners and advises as to whether or not joint venture relationships could be detrimental to the university's tax-exempt status. The current joint ventures with online education providers constitute activities central to the university's mission.”

“Change in value of split interest liability -99,439.”

“The university values the benefits of diversity. It is committed to creating a community which recognizes the inherent value and dignity of each person. As such, the university promotes and awareness of and sensitivity towards differences of race, gender, ethnicity, national origin, culture, sexual orientation, religion, age, and disabilities, among students, faculty, staff and administrators.”

“The audit committee of the university's board of trustees is appointed by the board to assist the board in the discharge of its oversight responsibilities. The audit committee oversees the financial reporting process to ensure the balance, transparency and integrity of published financial information. The audit committee also reviews the independent audit process, including recommending the appointment and assesing the performance of the external auditors.”

“Statement pursuant to section 1.351-3(a) by university of scranton 24-0795495 (1) name and employer identification number of the transferee corporation: name: university of scranton ein: 24-0795495 (2) dates of transfers of assets; (3) aggregate fair market value and basis of property transferred: transfer dates: fair market value: basis: 02/01/2015 $ 97,029 $ 97,029 03/01/2015 $232,358 $232,358 06/01/2015 $441,736 $441,736 07/01/2015 $165,970 $165,970 08/01/2015 $261,786 $261,786 09/01/2015 $ 68,941 $ 68,941 10/01/2015 $702,181 $702,181 11/01/2015 $ 91,922 $ 91,922 12/01/2015 $306,406 $306,406 (4) date and control number of private letter ruling(s) issued by the irs in connection with the exchange: date(s) and control number(s): none”