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Nonprofiteer
← SAMUEL MERRITT UNIVERSITY

Form 990 for tax year 2024

Filed by SAMUEL MERRITT UNIVERSITY.

Totals

Total revenue
$134,762,793
Total expenses
$109,097,319
Contributions and grants received
$8,289,955
Grants paid
$10,770,338
Program service revenue
$99,627,074
Investment income
$25,251,441
Other revenue
$1,594,323
Total assets, end of year
$595,616,621
Total liabilities, end of year
$275,679,159
Net assets or fund balances, end of year
$319,937,462
Program services expenses (Part IX)
$82,930,309
Management and general expenses
$23,724,152
Fundraising expenses
$2,442,858
Program service expenses (Part III)
$82,930,309

Program services were 76.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Ching-Hua Wang

    President

    Total calculated
    $989,785
    From this org
    $921,283
    From related orgs
    $0
    Other
    $68,502
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $706,723
    Bonus
    $180,000
    Other
    $34,560
    Deferred
    $68,502
    Nontaxable benefits
    $0
    Filer's total
    $989,785

  • Alvin McLean

    Regent & Chair

    Total calculated
    $0
    Hours/week
    5

  • Amber Luther

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Anna Kiger

    Regent & Chief Nursing Officer (THRU 06/24)

    Total calculated
    $0
    Hours/week
    5

  • Brad Barber

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Caroline Cabias

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Christine Helwick

    Regent (from 6/30/24)

    Total calculated
    $0
    Hours/week
    5

  • Conrad Vial

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Dennis O'Connell

    Regent & Vice-Chair

    Total calculated
    $0
    Hours/week
    5

  • Elizabeth Chaney

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Eric Roberts

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Jeff Gerard

    Regent (from 9/24/24)

    Total calculated
    $0
    Hours/week
    5

  • Katherine Schapiro

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Kevin Hart

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Lisa Zuffi

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Melanie Bell-Mayeda

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Mercedes Chavira

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Neptaly Aguilera

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Saul Rosenbaum

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Shefali Parikh

    Regent

    Total calculated
    $0
    Hours/week
    5

  • Dave Lawlor

    Executive Vice President & Treasurer

    Total calculated
    $916,575
    From this org
    $819,243
    From related orgs
    $0
    Other
    $97,332
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $594,121
    Bonus
    $200,000
    Other
    $25,122
    Deferred
    $68,974
    Nontaxable benefits
    $28,358
    Filer's total
    $916,575

  • Albert Frisone

    Former VP for University Advancement and Communication (from 1/1/24 to 1/8/24)

    Total calculated
    $392,121
    From this org
    $386,378
    From related orgs
    $0
    Other
    $5,743
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $386,145
    Bonus
    $0
    Other
    $233
    Deferred
    $3,554
    Nontaxable benefits
    $2,189
    Filer's total
    $392,121

  • Brian Clocksin

    Provost Executive Vice President, Academic/Student Affairs

    Total calculated
    $517,608
    From this org
    $436,567
    From related orgs
    $0
    Other
    $81,041
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $374,477
    Bonus
    $60,000
    Other
    $2,090
    Deferred
    $52,683
    Nontaxable benefits
    $28,358
    Filer's total
    $517,608

  • Emily Prieto-Tseregounis

    Chief of Staff, VP of Exernal Affairs

    Total calculated
    $368,317
    From this org
    $314,042
    From related orgs
    $0
    Other
    $54,275
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $273,437
    Bonus
    $40,000
    Other
    $605
    Deferred
    $23,000
    Nontaxable benefits
    $31,275
    Filer's total
    $368,317

  • Eric Stamps

    Former Dean and Professor of Podiatric Medicine (from 1/1/24 to 9/27/24)

    Total calculated
    $250,701
    From this org
    $228,143
    From related orgs
    $0
    Other
    $22,558
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $225,578
    Bonus
    $0
    Other
    $2,565
    Deferred
    $22,558
    Nontaxable benefits
    $0
    Filer's total
    $250,701

  • Evaon Wong-Kim

    Former Dean of Health Sciences (from 1/1/24 to 7/20/24)

    Total calculated
    $217,427
    From this org
    $178,122
    From related orgs
    $0
    Other
    $39,305
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $176,090
    Bonus
    $0
    Other
    $2,032
    Deferred
    $39,305
    Nontaxable benefits
    $0
    Filer's total
    $217,427

  • Gina Squara

    VP for Strategic Growth & Marketing

    Total calculated
    $308,140
    From this org
    $275,673
    From related orgs
    $0
    Other
    $32,467
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $254,834
    Bonus
    $20,000
    Other
    $839
    Deferred
    $22,254
    Nontaxable benefits
    $10,213
    Filer's total
    $308,140

  • Mark Razzante

    Interim Dean, College of Podiatric Medicine (from 9/30/24)

    Total calculated
    $213,728
    From this org
    $183,733
    From related orgs
    $0
    Other
    $29,995
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $183,430
    Bonus
    $0
    Other
    $303
    Deferred
    $5,722
    Nontaxable benefits
    $24,273
    Filer's total
    $213,728

  • Steven Rush

    Dean of Nursing

    Total calculated
    $291,337
    From this org
    $275,977
    From related orgs
    $0
    Other
    $15,360
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,138
    Bonus
    $0
    Other
    $3,839
    Deferred
    $15,360
    Nontaxable benefits
    $0
    Filer's total
    $291,337

  • Joseph Janakes

    Program Director

    Total calculated
    $395,375
    From this org
    $323,663
    From related orgs
    $0
    Other
    $71,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,348
    Bonus
    $0
    Other
    $8,315
    Deferred
    $44,177
    Nontaxable benefits
    $27,535
    Filer's total
    $395,375

  • Kevin Hamby

    Assistant Professor

    Total calculated
    $363,859
    From this org
    $304,344
    From related orgs
    $0
    Other
    $59,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,662
    Bonus
    $0
    Other
    $4,682
    Deferred
    $30,342
    Nontaxable benefits
    $29,173
    Filer's total
    $363,859

  • Nila Hollis

    Director of Psychiatric Mental Health Nurse Practitioner Program

    Total calculated
    $253,008
    From this org
    $253,008
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,569
    Bonus
    $0
    Other
    $439
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $253,008

  • Orophenia Bollinger

    Assistant Professor

    Total calculated
    $343,511
    From this org
    $292,993
    From related orgs
    $0
    Other
    $50,518
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,533
    Bonus
    $0
    Other
    $1,460
    Deferred
    $21,345
    Nontaxable benefits
    $29,173
    Filer's total
    $343,511

  • Seanny Min

    Assistant Professor

    Total calculated
    $296,150
    From this org
    $266,575
    From related orgs
    $0
    Other
    $29,575
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,168
    Bonus
    $0
    Other
    $1,407
    Deferred
    $10,626
    Nontaxable benefits
    $18,949
    Filer's total
    $296,150

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
SUPPLEMENTAL COMPENSATION INFORMATION: THE EXECUTIVE COMMITTEE OF THE SAMUEL MERRITT UNIVERSITY BOARD OF REGENTS RETAINS ULTIMATE DISCRETIONARY AUTHORITY OVER ALL ELEMENTS OF COMPENSATION TO ASSURE THAT ORGANIZATIONAL PURPOSES ARE APPROPRIATELY BEING SERVED. THE EXECUTIVE COMMITTEE USES CREDIBLE DATA SOURCES AND MAINTAINS AN OBJECTIVE "ARM'S LENGTH" DECISION-MAKING PROCESS, ENSURING THE INTEGRITY OF THE UNIVERSITY'S EXECUTIVE PROGRAMS AND CONSISTENCY WITH THE ORGANIZATION'S OVERALL MISSION. SEE SCHEDULE O NARRATIVE FOR PART VI, LINE 15 FOR A FULL DESCRIPTION OF THE COMPENSATION APPROVAL PROCESS COMPLETED BY SAMUEL MERRITT.
Schedule J, Part I, Line 4a Severance or change-of-control payment
Albert Frisone received severance payments of $294,146 during the tax year.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
The University also offers a Non-Qualified Retirement Plan 457(B), eligible to highly compensated individuals as defined by the IRS. There is no University matching under this plan and employee contributions to the plan vest immediately. The University also offers a Supplemental Executive Retirement Plan (SERP) 457(F) for two of its officers. The plan is designated as a non-qualified deferred compensation plan and is exempt from filing and audit requirements under Title I of ERISA.
Schedule J, Part I, Line 7 Non-fixed payments
THERE ARE NO SPECIFIC GUIDELINES FOR THE AMOUNT OF THE SPOT AWARD, AVERAGE AMOUNT OF SPOT AWARDS TEND TO NOT EXCEED 5% TO 15% OF GROSS ANNUAL SALARY. ANNUAL INCENTIVE PLAN (AIP): THE PURPOSE OF THE PLAN IS TO FOCUS EXECUTIVES ON SPECIFIC, SHORTER-TERM GOALS THAT ARE CRITICAL TO THE ACHIEVEMENT OF AFFILIATE, OPERATING UNIT AND SYSTEM-WIDE OBJECTIVES THAT DRIVE OVERALL ORGANIZATION PERFORMANCE. IN ALL CASES, THE EXECUTIVE COMMITTEE OF THE BOARD DETERMINES ACHIEVEMENT OF ORGANIZATION GOALS AND MAKES FINAL AWARD DETERMINATION WHICH MAY RESULT IN A REDUCTION OF AWARD IF APPROPRIATE. ALL SENIOR EXECUTIVE AWARDS ARE REVIEWED FOR COMPENSATION REASONABLENESS AND APPROVED BY THE COMPENSATION COMMITTEE PRIOR TO PAYMENT.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.1
Source object
202523169349300402

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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