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← LEGACY FUNDS OF HOLY NAMES UNIVERSITY

Form 990 for tax year 2022

Filed by LEGACY FUNDS OF HOLY NAMES UNIVERSITY.

Totals

Total revenue
$94,795,030
Total expenses
$58,740,783
Contributions and grants received
$7,736,948
Grants paid
$16,085,015
Program service revenue
$31,744,766
Investment income
$55,313,316
Other revenue
$0
Total assets, end of year
$69,754,154
Total liabilities, end of year
$3,939,474
Net assets or fund balances, end of year
$65,814,680
Program services expenses (Part IX)
$41,917,728
Management and general expenses
$16,099,491
Fundraising expenses
$723,564
Program service expenses (Part III)
$41,917,728

Program services were 71.4% 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.

  • 1d · Related organizations

    $3,459,514

  • 1e · Government grants (contributions)

    $1,224,638

  • 1f · All other contributions, gifts and grants

    $3,052,796

  • 2a · Program service revenue: TUITION AND FEES

    total $25,492,604 · related or exempt $25,492,604

  • 2b · Program service revenue: AUXILARY ENTERPRISE

    total $3,368,190 · related or exempt $3,368,190

  • 2c · Program service revenue: EDUCATION ACTIVITIES

    total $1,799,222 · related or exempt $1,799,222

  • 2d · Program service revenue: SCH EVENTS, OTHER PROG

    total $1,082,375 · related or exempt $1,082,375

  • 2e · Program service revenue: CONTRACTS, EXCH. TRANS

    total $2,375 · related or exempt $2,375

  • 3 · Investment income

    total $56,395 · unrelated business -$47,881 · excluded $104,276

  • 7a · Gross sales of assets other than inventory

    securities $28,144,239 · other assets $63,723,746

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

    securities $25,809,537 · other assets $10,801,527

  • 7c · Gain or loss

    securities $2,334,702 · other assets $52,922,219

  • 7d · Net gain or loss

    total $55,256,921 · excluded $55,256,921

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $424,891 · program services $424,891

  • 2 · Grants to domestic individuals

    total $15,660,124 · program services $15,660,124

  • 5 · Compensation of officers, directors and key employees

    total $1,099,555 · program services $367,657 · management and general $731,898

  • 7 · Other salaries and wages

    total $14,256,542 · program services $11,620,525 · management and general $2,286,208 · fundraising $349,809

  • 9 · Other employee benefits

    total $876,028 · program services $747,177 · management and general $120,833 · fundraising $8,018

  • 10 · Payroll taxes

    total $1,371,086 · program services $1,076,353 · management and general $263,326 · fundraising $31,407

  • 11b · Fees: legal

    total $915,568 · management and general $915,568

  • 11c · Fees: accounting

    total $185,500 · management and general $185,500

  • 11f · Fees: investment management

    total $177,456 · management and general $177,456

  • 11g · Fees: other

    total $1,711,141 · program services $630,367 · management and general $762,646 · fundraising $318,128

  • 12 · Advertising and promotion

    total $97,645 · program services $21,159 · management and general $76,486

  • 13 · Office expenses

    total $137,817 · program services $118,908 · management and general $18,410 · fundraising $499

  • 14 · Information technology

    total $953,726 · program services $248,226 · management and general $705,035 · fundraising $465

  • 16 · Occupancy

    total $1,658,056 · program services $1,374,292 · management and general $283,764

  • 17 · Travel

    total $600,637 · program services $568,602 · management and general $32,035

  • 19 · Conferences, conventions and meetings

    total $150,160 · program services $142,151 · management and general $8,009

  • 20 · Interest

    total $2,051,811 · program services $1,828,136 · management and general $223,675

  • 22 · Depreciation, depletion and amortization

    total $736,259 · program services $655,997 · management and general $80,262

  • 23 · Insurance

    total $205,034 · program services $19,514 · management and general $185,520

  • 24a · Other expenses: AUXILIARY ENTERPRISES

    total $5,407,380 · program services $5,407,380

  • 24b · Other expenses: LOSS ON BOND EXTINGUISH

    total $4,864,759 · management and general $4,864,759

  • 24c · Other expenses: CONTINGENT LOSS

    total $3,414,514 · management and general $3,414,514

  • 24d · Other expenses: BAD DEBT EXPENSES

    total $626,722 · management and general $626,722

  • 24e · All other expenses

    total $1,158,372 · program services $1,006,269 · management and general $136,865 · fundraising $15,238

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,645,624 · end of year $123,270

  • 2 · Savings and temporary cash investments

    beginning of year $5,128,254 · end of year $14,873,390

  • 3 · Pledges and grants receivable

    beginning of year $938,470 · end of year $1,846,877

  • 4 · Accounts receivable

    beginning of year $1,489,180 · end of year $527,900

  • 7 · Other notes and loans receivable

    beginning of year $62,177 · end of year $56,688

  • 9 · Prepaid expenses and deferred charges

    beginning of year $247,904 · end of year $32,895

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $11,139,721 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $3,187,907 · end of year $6,452,310

  • 12 · Investments: other securities

    beginning of year $51,930,929 · end of year $45,840,824

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,477,298 · end of year $2,051,521

  • 19 · Deferred revenue

    beginning of year $1,519,819 · end of year $53,386

  • 20 · Tax-exempt bond liabilities

    beginning of year $44,506,123 · end of year $0

  • 25 · Other liabilities

    beginning of year $958,233 · end of year $1,834,567

  • 27 · Net assets without donor restrictions

    beginning of year -$36,334,648 · end of year $5,098,076

  • 28 · Net assets with donor restrictions

    beginning of year $64,643,341 · end of year $60,716,604

Mission and programs · 2022

Mission

HOLY NAMES UNIVERSITY, FOUNDED BY THE SISTERS OF THE HOLY NAMES OF JESUS AND MARY, IS ROOTED IN CATHOLIC INTELLECTUAL AND SPIRITUAL TRADITIONS. A RIGOROUS AND INCLUSIVE INTELLECTUAL COMMUNITY, HNU IS COMMITTED TO CONTINUOUS IMPROVEMENT AND PROVIDES PROFESSIONAL AND LIBERAL UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS. THE UNIVERSITY EMPOWERS A DIVERSE STUDENT BODY TO THINK CRITICALLY AND IMAGINATIVELY, TO UNDERSTAND AND EMPLOY THE VARIOUS MODES OF KNOWLEDGE, TO COMMUNICATE CLEARLY AND PERSUASIVELY, TO PURSUE LEADERSHIP OPPORTUNITIES, AND TO PROMOTE THE COMMON GOOD.

Activities or mission (Part I)

PROVIDING A CATHOLIC LIBERAL EDUCATION EMPOWERING OUR STUDENTS FOR LEADERSHIP AND SERVICE.

  • THE UNIVERSITY PROVIDED UNDEGRADUATE AND GRADUATE INSTRUCTION FOR 959 FULL-TIME AND PART-TIME STUDENTS. 48% OF STUDENTS WERE HISPANIC OF ANY RACE, NATIVE AMERICAN, ASIAN, AFRICAN AMERICAN, OR NATIVE HAWAIIAN. UNIVERSITY STUDENTS PURSUED THE FOLLOWING COURSES OF STUDY: UNDERGRADUATES (59%), GRADUATE (41%).

    Expenses $21,727,238 · Grants $1,301,905 · Revenue $28,376,576

  • THE UNIVERSITY PROVIDED FINANCIAL AID OF $14,734,712 AND $48,398 IN HEERF STUDENT GRANTS TO MANY OF OUR UNDEGRADUATE AND GRADUATE STUDENTS.

    Expenses $14,783,110 · Grants $14,783,110

  • THE UNIVERSITY'S AUXILIARY ENTERPRISE EXPENSE PERTAINS TO THE UNIVERSITY'S ON-CAMPUS DORMITORIES AND CAFETERIA. THE ANNUAL COST FOR ROOM AND BOARD WAS $14,274. THE RESIDENCE HALLS FEATURE SINGLE ROOMS, DOUBLE ROOMS, AND SUITES FOR THREE OR MORE STUDENTS. EACH DORM ROOM HAS TWIN-SIZED BEDS, A SINK, TWO CLOSETS, A SET OF DRAWERS FOR EACH STUDENT, TWO DESKS, TWO CHAIRS, AND A MINI-FRIDGE. EACH HALL HAS A LAUNDRY ROOM. ENTRY TO THE DORMS IS CONTROLLED BY MEANS OF AN ELECTRONIC ACCESS CARD ISSUED TO DORM RESIDENTS [CONTINUED ON SCHEDULE O]. STUDENTS SERVING AS RESIDENT ASSISTANTS LIVE ON EACH FLOOR OF THE DORMS TO PROVIDE SUPERVISION AND ASSISTANCE. THE DINING HALL SERVES 19 "ALL-YOU-CAN-EAT" MEALS A WEEK. STUDENTS MAY CHOOSE ONE OF TWO MEAL PLANS OFFERING FROM 14 TO 19 MEALS/WEEK. [CONTINUED ON SCHEDULE O]THE HOT FOOD SELECTIONS ARE COMPLEMENTED BY A FRESH SALAD BAR.

    Expenses $5,407,380 · Revenue $3,368,190

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

Listed in Part VII

  • Steven Borg

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Barbara A Bray Snjm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Canning Snjm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Louis D Chicoine

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jean Dowdall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rachel O'Dwyer Flynn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Larry Garcia

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tiffin Groff

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Liebert Snjm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Ross Snjm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nicki Jean Thomas Snjm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Groener

    PRESIDENT (THRU 1/29/23)

    Total calculated
    $270,039
    From this org
    $226,964
    From related orgs
    $0
    Other
    $43,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,964
    Bonus
    $0
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $16,075
    Filer's total
    $270,039

  • Carol Sellman Snjm

    ACTING PRESIDENT (STARTED 12/14/22)

    Total calculated
    $101,585
    From this org
    $101,585
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jeanine Hawk

    CFO

    Total calculated
    $171,948
    From this org
    $146,573
    From related orgs
    $0
    Other
    $25,375
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,573
    Bonus
    $0
    Other
    $0
    Deferred
    $25,375
    Nontaxable benefits
    $0
    Filer's total
    $171,948

  • Kim Bowers

    INTERIM PROVOST & VP ACADEMIC AFFAIR

    Total calculated
    $178,828
    From this org
    $163,713
    From related orgs
    $0
    Other
    $15,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,713
    Bonus
    $0
    Other
    $0
    Deferred
    $8,238
    Nontaxable benefits
    $6,877
    Filer's total
    $178,828

  • Luis Guerra

    VP FACILITIES AND EVENTS

    Total calculated
    $188,327
    From this org
    $164,722
    From related orgs
    $0
    Other
    $23,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,722
    Bonus
    $0
    Other
    $0
    Deferred
    $16,728
    Nontaxable benefits
    $6,877
    Filer's total
    $188,327

  • Laura Lyndon

    VP STUDENT AFFAIRS

    Total calculated
    $188,829
    From this org
    $157,200
    From related orgs
    $0
    Other
    $31,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,200
    Bonus
    $0
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $15,129
    Filer's total
    $188,829

  • Mary Boivin-McGhee

    VP, OFFICE OF INST. ADVANCEMENT

    Total calculated
    $238,095
    From this org
    $212,966
    From related orgs
    $0
    Other
    $25,129
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,966
    Bonus
    $0
    Other
    $18,000
    Deferred
    $10,000
    Nontaxable benefits
    $15,129
    Filer's total
    $238,095

  • Kimberly L Mayfield

    DEAN OF ACADEMIC SCHOOL

    Total calculated
    $165,029
    From this org
    $157,170
    From related orgs
    $0
    Other
    $7,859
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,170
    Bonus
    $0
    Other
    $0
    Deferred
    $7,859
    Nontaxable benefits
    $0
    Filer's total
    $165,029

  • John Hofmann

    CHIEF OF STAFF/DIR INST EFF & RSRCH

    Total calculated
    $165,448
    From this org
    $147,981
    From related orgs
    $0
    Other
    $17,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,981
    Bonus
    $0
    Other
    $0
    Deferred
    $10,590
    Nontaxable benefits
    $6,877
    Filer's total
    $165,448

  • Suzette McCain

    CONTROLLER

    Total calculated
    $158,552
    From this org
    $145,779
    From related orgs
    $0
    Other
    $12,773
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,779
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,773
    Filer's total
    $158,552

  • Michael Graney-Mulholland

    DEAN OF ACADEMIC SCHOOL

    Total calculated
    $172,945
    From this org
    $145,945
    From related orgs
    $0
    Other
    $27,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,945
    Bonus
    $0
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $0
    Filer's total
    $172,945

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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 1A
THE UNIVERSITY PROVIDES A UNIVERSITY-OWNED HOUSE ON CAMPUS FOR PRESIDENT GROENER AND HIS SPOUSE FOR THE CONVENIENCE OF THE EMPLOYER UNDER IRC SECTION 119. THE PRESIDENT IS REQUIRED TO LIVE IN THE HOME AS REQUIRED BY HIS EMPLOYMENT CONTRACT. THE BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION. MARY BOIVIN-MCGHEE, VP OF OFFICE OF INSTITUTIONAL ADVANCEMENT, RECEIVED HOUSING ALLOWANCE. THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION.

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

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • BH 3500 MOUNTAIN BOULEVARD LLC

    $52,000,000

    Disposition · CAMPUS FACILITIES - BUILDING, LAND, LAND IMPROVEMENT, FURNITURE, EQUIPMENT, AND AUTOMOBILES · Jun 9, 2023 · LLC

  • BH 3500 MOUNTAIN BLVD OAKLAND LLC

    $13,000,000

    Disposition · CAMPUS FACILITIES - BUILDING, LAND, LAND IMPROVEMENT, FURNITURE, EQUIPMENT, AND AUTOMOBILES · Jun 9, 2023 · LLC

  • EDDIE SK KWAN AND VIVECA T KWAN

    $2,950,000

    Disposition · PRIVATE RESIDENCE · Apr 3, 2023 · INDIVIDUALS

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349312947

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