Saint Joseph'S College

“For other incoming executives, compensation is set after performing similar benchmarking and approved by the president. On an annual basis, executive compensation is typically adjusted in a manner similar to other employees of the college. From time to time, an adjustment may be made to an individual executive's compensation outside of the normal salary adjustments approved by the board. This would occur after similar benchmarking against peer institutions.”

“Compensation of the President was last evaluated by the Board of Trustees during May through July 2016. The President's employment with the College ended in May 2017. Subsequent to the President's departure, Father Barry Fischer (Rector) assumed the role of Top Management Official. Father Barry receives a stipend and other reimbursements in exchange for the services he provides to the College. As a member of clergy who has made a promise comparable to a strict vow of poverty, all income received by Father Barry is property of The Society of the Precious Blood, Cincinnati Province, Inc.”

“The executive committee shall consist of the following: - the chair of the board - the vice chair of the board - the provincial director or his designee - the president - the chairs of the standing committees - such other members of the board as may be designated by the chair the executive committee shall act for the board in the intervals between meetings of the board of trustees. The executive committee shall meet only at the discretion of the chair. The executive committee may exercise all the power and authority of the board of trustees, but shall not have the power to elect or remove any officer or approve the budget, and shall report to the board at its next meeting.”

“The organization's members are those persons holding the offices of the Provincial Director and those serving on the Provincial Council of the Society of the Precious Blood (C.PP.S.), Cincinnati Province, a Roman Catholic society of apostolic life.”

“The following powers are reserved to the Members: A. To adopt the amendment, alteration, modification, or repeal of the Articles of Incorporation as proposed by the Board of Trustees; B. To adopt the amendment, alteration, modification, or repeal of the Bylaws of the Corporation as proposed by the Board of Trustees; C. To dissolve or terminate the existence of the Corporation and to determine the distribution of assets upon such termination or dissolution as proposed by the Board of Trustees; D. To merge, consolidate, or affiliate the Corporation with another corporation, organization, or program as proposed by the Board of Trustees; E. To approve the Mission Statement of the College or any change to the Mission Statement as proposed by the Board of Trustees. The Members also have the right to prohibit any organization or policy at the College that are inconsistent with the Catholic identity of the College.”

“THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT. Subsequent to management's review, A FINAL DRAFT OF THE FULL FORM 990, INCLUDING ALL APPLICABLE SCHEDULES, IS PROVIDED TO EACH MEMBER OF THE Board of Directors for review and commentary prior to filing with the IRS.”

“Annual disclosure is provided to each officer and board member. Each person completes an annual conflict of interest questionnaire. Once the questionnaires are completed, the president's assistant reviews the responses and determines whether or not there are any potential conflicts of interest. If there is a potential conflict of interest, the president, treasurer, and controller review the corresponding issue and determine if there is an actual conflict of interest. If an actual conflict of interest is determined to exist, that person is excluded from any discussions concerning the conflicting issue and is not permitted to vote on any decisions regarding the conflicting issue. Any purchases and/or budding proposals are also reviewed for any potential conflicts of interest prior to submitting bids or making purchases. The controller attends the board meetings to ensure that compliance with these guidelines is followed.”

“Governing documents, conflict of interest policies, and financial statements are not required disclosures pursuant to internal revenue code (irc) section 6104. These documents are not available to the public at this time.”

“As of 6/30/2017, the College has suspended all academic operations due to financial challenges. The College continues to evaluate all potential future revenue-generating activities which could enable it to resume educational activities at some future date. Subsequent to the year ended 6/30/2018, the College has launched a fundraising campaign anticipated to generate nearly $4 million in contributions over the next three years. This campaign has been launched in the hopes of allowing the College to continue furthering the mission that it has faithfully upheld for over 100 years of providing an education that strives to prepare men and women to lead successful processional and personal lives consistent with gospel values.”

“Subsequent to the year ended 6/30/2018, the College has launched a fundraising campaign anticipated to generate nearly $4 million in contributions over the next three years. This campaign has been launched in the hopes of allowing the College to continue furthering the mission that it has faithfully upheld for over 100 years of providing an education that strives to prepare men and women to lead successful processional and personal lives consistent with gospel values. Prior to suspending operations on 6/30/2017, and subsequent to the College's re-opening in the future should the current capital campaign be successful, the mission of Saint Joseph's College was and will be as follows: Saint Joseph's College (Indiana), a primarily undergraduate Catholic college, founded and sponsored by the Missionaries of the Precious Blood, pledges itself to a tradition of excellence and to a liberal education that is a united endeavor of intelligence and faith. THE COLLEGE PLACES EXCEPTIONAL EMPHASIS ON THE EDUCATION OF THE WHOLE PERSON. ITS NATIONALLY KNOWN CORE CURRICULUM COMPLEMENTS UP-TO-DATE CAREER PREPARATION IN THE MAJOR. THESE ACADEMIC PROGRAMS ENRICH AND ARE ENRICHED BY PROGRAMS OF SPIRITUAL DEVELOPMENT, RESIDENCE EDUCATION, AND ATHLETICS. THE COLLEGE SERVES A DIVERSE STUDENT BODY COMPOSED OF MEN AND WOMEN OF ALL RACES, CREEDS, AND SOCIO-ECONOMIC BACKGROUNDS WHO CAN THRIVE ACADEMICALLY, SPIRITUALLY, AND SOCIALLY IN THIS INCLUSIVE COMMUNITY. SAINT JOSEPH'S COLLEGE IS A LIBERAL ARTS COLLEGE STRIVING TO PREPARE MEN AND WOMEN TO LEAD SUCCESSFUL PROFESSIONAL AND PERSONAL LIVES CONSISTENT WITH GOSPEL VALUES. TO FULFILL THIS MISSION, THE COLLEGE PLEDGES: 1. TO FORM GRADUATES WHO ARE COMPETENT PROFESSIONALS, CAPABLE OF ASSUMING LEADERSHIP ROLES IN THE WORLD, WHO WILL EMBODY GOSPEL VALUES IN THEIR PERSONAL LIVES AND PROFESSIONAL CAREERS. 2. TO CONDUCT THE CORE CURRICULUM AND, THROUGH IT, ALL COLLEGE PROGRAMS WITHIN THE CONCEPTUAL FRAMEWORK AND VALUE COMMITMENTS OF "CHRISTIAN HUMANISM" THAT STEM FROM OUR JUDEO-CHRISTIAN AND GRAECO-ROMAN TRADITIONS AND FROM OUR VATICAN II INSPIRATION. 3. TO GIVE WITNESS IN A SPECIAL WAY, IN ALL ASPECTS OF CAMPUS LIFE, ACADEMICALLY AND EXISTENTIALLY, TO THE CHRISTIAN HUMANIST VALUES OF JUSTICE AND LOVE AND ITS COMMITMENT TO HUMAN SOLIDARITY AND INTERDEPENDENCE ON NATIONAL AND GLOBAL LEVELS. 4. TO ADD TO THE EMPHASIS TO EDUCATE THE WHOLE STUDENT -- INTELLECTUALLY, PHYSICALLY, SOCIALLY, AND SPIRITUALLY -- AN ABIDING CONCERN TO PROVIDE PERSONALIZED AND INDIVIDUALIZED CARE. 5. TO STEWARD ALL THE RESOURCES OF THE COLLEGE IN TRUTH, IN LOVING JUSTICE, AND WITH CONCERN FOR THE NEEDS OF THE INDIVIDUAL. 6. TO EXTEND PERSONAL AND PROFESSIONAL SERVICES AS CHURCH AND PUBLIC NEEDS MAY REQUIRE.”

“The College is continually evaluating all future revenue-generating opportunities and long-term sustainable business models which could enable it to resume educational activities at some future date. Subsequent to the year ended 6/30/2018, the College has launched "Core 128" fundraising campaign to provide operational support for the College. Prior to suspending operations on 6/30/17, the College's programs and activities were conducted as follows: AT SAINT JOSEPH'S COLLEGE, WE CARRY ON THE CATHOLIC INTELLECTUAL TRADITION -- AN INTEGRAL PART OF OUR MISSION. NOT ONLY DO WE TEACH FACTS AND CONCEPTS, BUT WE ALSO FURNISH STUDENTS WITH THE TOOLS TO APPLY THOSE IDEAS TO THE WORKPLACE AND TO THEIR LIVES. THROUGH THIS, WE PROVIDE STUDENTS THE RESOURCES TO SPEAK AND WRITE EFFECTIVELY AND GIVE THEM A SOLID BASIS FOR HOW WE LEARN, LIVE, AND WORK AS A SOCIETY ACCORDING TO GOSPEL VALUES. HERE AT SAINT JOSEPH'S COLLEGE, WE ARE CREATING NEW ACADEMIC PROGRAMS TO RESPOND TO THE NEEDS OF TODAY'S STUDENTS. WE ARE ALSO CREATING NEW PARTNERSHIPS WITH BUSINESSES, OTHER COLLEGES, AND REGIONAL HIGH SCHOOLS. ALL IN ALL, WE ARE STRIVING TO ENSURE THAT SAINT JOSEPH'S COLLEGE WILL REMAIN THE HIGH-QUALITY CATHOLIC HIGHER EDUCATION INSTITUTION THAT STUDENTS, ALUMNI, PARENTS, AND FRIENDS HAVE KNOWN SINCE 1889. THE COLLEGE SERVES A DIVERSE STUDENT BODY OF APPROXIMATELY 1,000 MEN AND WOMEN OF ALL RACES, CREEDS, AND SOCIO-ECONOMIC BACKGROUNDS. THE COLLEGE STRIVES TO FORM GRADUATES WHO ARE COMPETENT PROFESSIONALS, CAPABLE OF ASSUMING LEADERSHIP ROLES IN THE WORLD, AND WHO WILL EMBODY GOSPEL VALUES IN THEIR PERSONAL LIVES AND PROFESSIONAL CAREERS. Due to financial challenges, the College suspended all operations as of June 30, 2017, voluntarily resigning its accreditation status and thus making it ineligible to continue to participate in federal student financial aid programs. The College entered into teach out agreements with other colleges and universities willing to help current students complete their academic careers. The College did not enroll any new students subsequent to the spring semester 2017. The College is continually evaluating all future revenue-generating opportunities and long-term sustainable business models which could enable it to resume educational activities at some future date. Subsequent to the year ended 6/30/2018, the College has launched "Core 128" fundraising campaign to provide operational support for the College.”

“Over the last ten years, the College has struggled to remain competitive in a challenging higher education marketplace. Shifting demographics, increasing competition, and deteriorating facilities have resulted in high levels of institutional aid in order to attract students in similar number to prior years. Net tuition revenues were roughly the same as ten years ago while expenses have increased at a steady rate. The combined impact of stagnating revenue and steadily increasing expenses resulted in the deterioration of cash reserves and the use of board designated endowment assets to fund annual expenditures. In 2016, the College exhausted the last of its available assets to fund annual deficits. The Board evaluated potential sources of revenue and liquidity such as fundraising, borrowing, and asset liquidation vis-a-vis the College's short-term and long-term strategic and tactical challenges including continued availability of student financial aid funds, accreditation probation, debt covenant violations, and an anticipated future lack of liquidity. Accordingly, after evaluating all of these factors and after much deliberation, in February 2017 the Board made the decision to suspend all academic operations effective at the conclusion of the spring semester 2017. While there was hope to retain select programs needed to support certain potential academic partnerships that are being considered in the future, these efforts were ultimately unsuccessful. Therefore, as of June 30, 2017 the College suspended all academic operations, voluntarily resigning its accreditation status and thus making it ineligible to continue to participate in federal student financial aid programs. The College entered into teach out agreements with other colleges and universities willing to help current students complete their academic careers. The College did not enroll any new students subsequent to the spring semester 2017. The College is continually evaluating all future opportunities including potential academic partnerships, granting opportunities, feasibility of relaunching educational operations, long-term sustainable business models, and other revenue generating activities which could enable it to resume educational activities at some future date. Subsequent to the year ended 6/30/2018, the College has launched "Core 128" fundraising campaign to provide operational support for the College in the amount of $1,330,000 per year for the next three years. Pledges, intentions to give, and contributed dollars total over one million dollars for this $3,990,000 campaign.”

“The fair value of farm land was determined by management using appraisals, quoted market prices for similar assets or other market data, such as the purdue agricultural economics report, which is a report that summarizes the results of an annual survey of numerous professionals knowledgeable about indiana's farmland market. This report serves to provide information regarding farmland values and cash rent. Unrealized gains and losses are included in the change in net assets.”

“Unrealized gain on permanently restricted farm land held as an investment - 1175308; unrealized gain on contribution receivable - 47348;”