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← IMMACULATA UNIVERSITY

Form 990 for tax year 2022

Filed by IMMACULATA UNIVERSITY.

Totals

Total revenue
$51,996,541
Total expenses
$51,843,905
Contributions and grants received
$4,241,097
Grants paid
$12,112,340
Program service revenue
$45,221,542
Investment income
$2,348,678
Other revenue
$185,224
Total assets, end of year
$87,633,205
Total liabilities, end of year
$46,160,878
Net assets or fund balances, end of year
$41,472,327
Program services expenses (Part IX)
$39,564,298
Management and general expenses
$11,395,145
Fundraising expenses
$884,462
Program service expenses (Part III)
$39,564,298

Program services were 76.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $54,876

  • 1e · Government grants (contributions)

    $412,450

  • 1f · All other contributions, gifts and grants

    $3,773,771

  • 1g · Noncash contributions included above

    $45,448

  • 2a · Program service revenue: TUITION / FEES

    total $39,509,599 · related or exempt $39,509,599

  • 2b · Program service revenue: RESIDENT HALLS

    total $3,310,366 · related or exempt $3,310,366

  • 2c · Program service revenue: STUDENT BOARD PLAN

    total $2,331,000 · related or exempt $2,331,000

  • 2d · Program service revenue: BOOKSTORE COMM. & VEND

    total $45,498 · related or exempt $45,498

  • 2e · Program service revenue: IU CASH RECEIPTS

    total $21,983 · related or exempt $21,983

  • 2f · All other program service revenue

    total $3,096 · related or exempt $3,096

  • 3 · Investment income

    total $1,480,890 · excluded $1,480,890

  • 4 · Income from investment of tax-exempt bond proceeds

    total $85,724 · excluded $85,724

  • 6a · Gross rents

    real property $52,693

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $52,693

  • 6d · Net rental income or loss

    total $52,693 · unrelated business $45,843 · excluded $6,850

  • 7a · Gross sales of assets other than inventory

    securities $15,082,981

  • 7b · Less cost or other basis and sales expenses

    securities $14,300,917

  • 7c · Gain or loss

    securities $782,064

  • 7d · Net gain or loss

    total $782,064 · excluded $782,064

  • 8a · Fundraising events: gross income

    $17,175

  • 8a · Fundraising events: contributions included on line 1c

    $54,876

  • 8b · Fundraising events: direct expenses

    $37,944

  • 8c · Net income from fundraising events

    total -$20,769 · excluded -$20,769

  • 10b · Cost of goods sold

    $86,395

  • 10c · Net income from sales of inventory

    total -$86,395 · excluded -$86,395

  • 11a · Other revenue: PARKING FEE/PERMITS

    total $42,770 · related or exempt $42,770

  • 11b · Other revenue: TRANSCRIPT INCOME

    total $26,637 · related or exempt $26,637

  • 11c · Other revenue: FORFEIT STUDENT DEPOSI

    total $13,453 · related or exempt $13,453

  • 11d · All other revenue

    total $156,835 · related or exempt $156,835

  • 11e · Other revenue, total

    $239,695

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,112,340 · program services $12,112,340

  • 5 · Compensation of officers, directors and key employees

    total $975,733 · program services $180,000 · management and general $601,383 · fundraising $194,350

  • 7 · Other salaries and wages

    total $16,559,256 · program services $12,786,376 · management and general $3,416,690 · fundraising $356,190

  • 8 · Pension plan contributions

    total $457,015 · program services $328,981 · management and general $108,923 · fundraising $19,111

  • 9 · Other employee benefits

    total $2,111,059 · program services $1,464,679 · management and general $591,191 · fundraising $55,189

  • 10 · Payroll taxes

    total $1,235,046 · program services $951,150 · management and general $245,501 · fundraising $38,395

  • 11b · Fees: legal

    total $148,737 · management and general $148,737

  • 11c · Fees: accounting

    total $100,775 · management and general $100,775

  • 11f · Fees: investment management

    total $96,076 · management and general $96,076

  • 11g · Fees: other

    total $2,715,243 · program services $1,955,287 · management and general $759,956

  • 12 · Advertising and promotion

    total $813,210 · program services $85,793 · management and general $714,750 · fundraising $12,667

  • 13 · Office expenses

    total $3,234,793 · program services $2,335,232 · management and general $694,808 · fundraising $204,753

  • 14 · Information technology

    total $2,706,141 · management and general $2,706,141

  • 17 · Travel

    total $158,122 · program services $149,872 · management and general $4,443 · fundraising $3,807

  • 20 · Interest

    total $1,838,915 · program services $1,475,886 · management and general $363,029

  • 22 · Depreciation, depletion and amortization

    total $3,691,531 · program services $2,962,768 · management and general $728,763

  • 23 · Insurance

    total $491,284 · program services $390,655 · management and general $100,629

  • 24a · Other expenses: FEES FOR DINING SERVICE

    total $2,302,238 · program services $2,302,238

  • 24b · Other expenses: EQUIPMENT

    total $96,391 · program services $83,041 · management and general $13,350

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,068,281 · end of year $1,775,422

  • 3 · Pledges and grants receivable

    beginning of year $128,244 · end of year $1,704,063

  • 4 · Accounts receivable

    beginning of year $639,357 · end of year $633,311

  • 7 · Other notes and loans receivable

    beginning of year $178,908 · end of year $120,414

  • 9 · Prepaid expenses and deferred charges

    beginning of year $934,844 · end of year $532,023

  • 10a · Land, buildings and equipment: cost or other basis

    $146,097,000

  • 10b · Land, buildings and equipment: accumulated depreciation

    $92,388,423

  • 10c · Land, buildings and equipment, net

    beginning of year $54,874,070 · end of year $53,708,577

  • 11 · Investments: publicly traded securities

    beginning of year $29,511,887 · end of year $29,076,576

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $104,185 · end of year $82,819

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,214,228 · end of year $2,054,543

  • 19 · Deferred revenue

    beginning of year $2,270,617 · end of year $2,396,025

  • 20 · Tax-exempt bond liabilities

    beginning of year $35,594,724 · end of year $34,822,992

  • 23 · Secured mortgages and notes payable

    beginning of year $5,106,471 · end of year $4,253,288

  • 25 · Other liabilities

    beginning of year $2,684,568 · end of year $2,634,030

  • 27 · Net assets without donor restrictions

    beginning of year $16,207,768 · end of year $18,600,408

  • 28 · Net assets with donor restrictions

    beginning of year $24,361,400 · end of year $22,871,919

Mission and programs · 2022

Mission

SEE SCHEDULE OIMMACULATA UNIVERSITY (THE UNIVERSITY) IS A CATHOLIC INSTITUTION OF HIGHER EDUCATION FOUNDED IN 1920 BY THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY (THE CONGREGATION). THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO MEN AND WOMEN DIRECTED PRIMARILY TOWARD LIBERAL ARTS AND PROFESSIONAL EDUCATION. IN ADDITION TO ON CAMPUS AND OFF-SITE GRADUATE AND UNDERGRADUATE PROGRAMS, THE UNIVERSITY OFFERS COURSES IN ONLINE INSTRUCTION. THE UNIVERSITY IS COMMITTED TO SCHOLARSHIP AND THE FORMATION OF THE WHOLE PERSON FOR LEADERSHIP AND SERVICE AND TO THE EMPOWERMENT OF ALL MEMBERS OF THE COMMUNITY TO SEEK TRUTH, PROMOTE JUSTICE, FOSTER PEACE AND ENGAGE IN DIALOGUE BETWEEN FAITH AND CULTURE.

Activities or mission (Part I)

SEE SCHEDULE OTHE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS TO MEN AND WOMEN DIRECTED PRIMARILY TOWARD LIBERAL ARTS AND PROFESSIONAL EDUCATION.

  • TO EDUCATE AND PROVIDE RELATED SERVICES TO STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2022/2023, THIS PROGRAM BENEFITTED 2,392 OF WHOM 948 WERE TRADITIONAL UNDERGRADUATE AND 884 GRADUATE STUDENTS. THIS PROGRAM ALSO CONTRIBUTED TOWARD THE GRADUATION OF 485 STUDENTS DURING ACADEMIC YEAR 2022/2023.

    Expenses $33,949,328 · Grants $11,794,430 · Revenue $39,509,599

  • TO PROVIDE LIVING QUARTERS FOR STUDENTS. IN THE FALL TERM OF ACADEMIC YEAR 2022/2023, THIS PROGRAM BENEFITTED 469 STUDENTS.

    Expenses $2,621,141 · Grants $187,820 · Revenue $3,310,366

  • TO PROVIDE MEALS TO STUDENTS. IN THE FALL OF 2022, THIS PROGRAM BENEFITTED 501 STUDENTS.

    Expenses $2,993,829 · Grants $130,090 · Revenue $2,331,000

  • BOOKSTORE COMMISSION AND VENDING - $45,498FOOD SERVICES-CATERING - $3,096IU CASH RECEIPTS - $21,983PARKING FEES/PERMITS - $42,770TRANSCRIPT INCOME - $26,637FORFEIT STUDENT DEPOSITS - $13,453ALL OTHER REVENUE - $156,835

    Revenue $310,272

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sister Margaret Rose Adams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Peggy Behm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Norma C Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Elaine Dechantal Brookes Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Justin Cusick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Cindy Egnotovich

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Aj Gabriele

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Melissa George

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ralph J Hall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Hohenadel

    TRUSTEE (AS OF 3/23)

    Total calculated
    $0
    Hours/week
    2

  • Kathleen James

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Patricia A Knecht PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mary Lou Kramer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Bernadette Maguire

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dianne Manges

    TRUSTEE (AS OF 7/22)

    Total calculated
    $0
    Hours/week
    2

  • Sister Patricia Mengel Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Anthony J Montagnolo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kevin Moore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Jeannine Mary Norton Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Janet Purcell Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Stephen Ann Roderiguez Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Mary Smith Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Mary Ellen Tennity Ihm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mimi Draper Walsh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mary Beth Westmoreland

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Judith Witt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Barbara Lettiere

    PRESIDENT

    Total calculated
    $280,844
    From this org
    $261,352
    From related orgs
    $0
    Other
    $19,492
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,735
    Bonus
    $0
    Other
    $1,617
    Deferred
    $10,583
    Nontaxable benefits
    $8,909
    Filer's total
    $280,844

  • Susan Arnold

    VP OF ADVANCEMENT

    Total calculated
    $208,688
    From this org
    $193,314
    From related orgs
    $0
    Other
    $15,374
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,314
    Bonus
    $0
    Other
    $0
    Deferred
    $7,468
    Nontaxable benefits
    $7,906
    Filer's total
    $208,688

  • Patricia Canterino

    VP FOR SD & UA

    Total calculated
    $194,106
    From this org
    $179,505
    From related orgs
    $0
    Other
    $14,601
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,505
    Bonus
    $0
    Other
    $0
    Deferred
    $7,200
    Nontaxable benefits
    $7,401
    Filer's total
    $194,106

  • Angela Tekely

    VP ACADEMIC AFFAIRS

    Total calculated
    $186,779
    From this org
    $156,067
    From related orgs
    $0
    Other
    $30,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,067
    Bonus
    $0
    Other
    $0
    Deferred
    $6,055
    Nontaxable benefits
    $24,657
    Filer's total
    $186,779

  • Amy Bosio

    VP FINANCE & ADMINISTRATION

    Total calculated
    $115,102
    From this org
    $97,580
    From related orgs
    $0
    Other
    $17,522
    Hours/week
    40

  • Sister Antoine Lawlor Ihm

    VP FOR MISSION AND MINISTRY

    Total calculated
    $0
    Hours/week
    40

  • Sister Monica Sicilia

    VP OF COMMUNICATIONS (THRU 8/22)

    Total calculated
    $0
    Hours/week
    40

  • Bryan Steinberg

    EXEC. DIR. OF INFORMATION TECH SERV.

    Total calculated
    $163,484
    From this org
    $136,042
    From related orgs
    $0
    Other
    $27,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,264
    Bonus
    $0
    Other
    $778
    Deferred
    $5,734
    Nontaxable benefits
    $21,708
    Filer's total
    $163,484

  • Kerry Jones

    DIRECTOR, CAPITAL PROGRAM MANAGEMENT

    Total calculated
    $155,903
    From this org
    $142,855
    From related orgs
    $0
    Other
    $13,048
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,855
    Bonus
    $0
    Other
    $0
    Deferred
    $5,734
    Nontaxable benefits
    $7,314
    Filer's total
    $155,903

  • Jeffrey Rollison

    DIRECTOR OF LIBRARY

    Total calculated
    $126,366
    From this org
    $115,292
    From related orgs
    $0
    Other
    $11,074
    Hours/week
    40

  • Claudine Vita

    EXEC. DIR. OF HUMAN RESOURCES

    Total calculated
    $126,233
    From this org
    $113,327
    From related orgs
    $0
    Other
    $12,906
    Hours/week
    40

  • Melissa Reed

    DEAN

    Total calculated
    $129,852
    From this org
    $118,694
    From related orgs
    $0
    Other
    $11,158
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FOLLOWING TRUSTEES OF IMMACULATA UNIVERSITY'S BOARD OF TRUSTEES ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER MARY ELLEN TENNITY, IHM SISTER MARGARET ROSE ADAMS, IHM SISTER ELAINE DECHANTAL BROOKES, IHM SISTER JEANNINE MARY NORTON, IHM SISTER JANET PURCELL, IHM SISTER STEPHEN ANNE RODERIGUEZ, IHM SISTER PATRICIA MENGEL, IHM SISTER MARY SMITH, IHM THE FOLLOWING OFFICERS OF IMMACULATA UNIVERSITY ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: SISTER ANTOINE LAWLOR, IHM - VP FOR MISSION AND MINISTRY
PART I, LINE 4A
CLAUDINE VITA, HIGHEST COMPENSATED EMPLOYEE, RECEIVED A SEVERANCE PAYMENT TOTALING $17,974 IN CALENDAR YEAR 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202421229349301617

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