Schedule L
(Form 990)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ.
MediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
Name of the organization
Seton Hall University
 
Employer identification number

22-1500645
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
(1) Joseph E Nyre PhD President/CEO/Trustee/Regent Home Purchase   X 2,894,000 0   No Yes   Yes  
Total ...............Small Bullet $ 0
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
(1) Total of 6   131,010 Scholar/Tuition Remission Education
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) 2021
Schedule L (Form 990) 2021
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Tracy HGottlieb Sister of Officer 149,282 COMPENSATION & BENEFITS   No
(2) Tracy HGottlieb Sister of Officer 58,112 COMPENSATION & BENEFITS   No
(3) Tracy HGottlieb Daughter of Officer 73,094 COMPENSATION & BENEFITS   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Part II - Loans to and/or From Interested Persons As disclosed in the Form 990 filing for the University's fiscal year ended June 30, 2021, and in Schedule J, Part III of this Form 990, the president, as a condition of employment, is required to live in a Board of Regents (Board) approved residence suitable for entertaining groups large and small and conducting University business. Rather than the University initially purchasing a residence suitable for conducting University business, the employment agreement required the president to purchase a Board approved residence with a loan from the University. The 2019 loan, which was secured by the residence, was for 30 years in the amount of $2,894,000. It fully financed the purchase of the residence. Loan principal was to be paid upon maturity or termination of employment. Annual payments were to be for interest only, unless interest was forgiven by the Board, which was the case based on its determination that the residence was used for substantial official University functions and business on a continuous basis. Interest forgiveness was imputed into his taxable income in 2020 with gross-up payments made to him to cover the tax withholding impact of the imputed income. On August 6, 2021, Dr. Nyre conveyed the residence to the University for $1.00 for the reasons noted in Schedule J, Part III. In connection with the conveyance, the loan of $2,894,000 was discharged in its entirety. Remaining interest on the loan was forgiven by the board in 2022 and was imputed into his taxable income in 2022 with gross-up payments made to him to cover the tax withholding impact of the imputed income.
Part III - Grants or Assistance Benefiting Interested Persons Seton Hall University is not required to identify interested persons to whom assistance was provided under the Family Educational Rights and Privacy Act (FERPA).
Part IV - Business Transactions Involving Interested Persons The two sisters and daughter of Dr. Tracy H. Gottlieb, Former V.P. for Student Services, served as employees of the University. In fiscal year 2022, they received total compensation and benefits of $149,282, $58,112, and $73,094, respectively. All transactions with interested persons were conducted at arm's length, for good sufficient consideration, based on terms that are fair and reasonable to and for the benefit of the University. The applicable interested persons had no influence over the decisions to enter into the transactions.
Schedule L (Form 990) 2021


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