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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2020
Open to Public
Inspection
Name of the organization
Seton Hall University
 
Employer identification number
22-1500645
Part Ⅰ
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A NJEFA - Seton Hall - Issue 2020C
  		22-1829511 6460667B0 06-18-2020 34,025,223 SEE PART VI   X   X   X
B NJEFA - Seton Hall - Issue 2011 A
  		22-1829511 646065U83 06-10-2011 37,578,532 SEE PART VI   X   X   X
C NJEFA - Seton Hall - CIF 2014 B
  		22-1829511 646066DG2 04-29-2014 19,369,367 SEE PART VI   X   X X  
D NJEFA - Seton Hall - ISSUE 2017 D
  		22-1829511 646066V64 06-29-2017 41,827,193 SEE PART VI   X   X   X
NJEFA - Seton Hall - Issue 2013 D
  		22-1829511 6460656D9 07-10-2013 43,935,728 SEE PART VI   X   X   X
NJEFA - Seton Hall - ISSUE 2015 C
  		22-1829511 646066MC1 07-14-2015 24,225,807 SEE PART VI   X   X   X
NJEFA - Seton Hall - ISSUE 2016 C
  		22-1829511 646066B66 09-15-2016 38,059,002 SEE PART VI   X   X   X
NJEFA - Seton Hall - CIF 2016 A
  		22-1829511   07-26-2016 20,805,115 SEE PART VI   X   X X  
NJEFA - SETON HALL - CIF 2016 B
  		22-1829511 646066P54 12-20-2016 30,676,062 SEE PART VI   X   X X  
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 0 31,545,000 228,505 0
2 Amount of bonds legally defeased .............. 0 0 0 0
3 Total proceeds of issue .................. 34,025,223 37,578,532 19,369,367 41,827,193
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 0 0 0
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 266,697 411,094 113,339 348,259
8 Credit enhancement from proceeds ............. 1,369,051 0 0 0
9 Working capital expenditures from proceeds ............. 0 0 0 0
10 Capital expenditures from proceeds ............. 770,076 0 1,014,830 0
11 Other spent proceeds ............. 0 37,167,438 0 41,478,934
12 Other unspent proceeds ............. 31,619,399 0 0 0
13 Year of substantial completion ............. 2023 2011 2015 2017
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2019, a current refunding issue)? ........ 		  X X     X X  
15 Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2019, an advance refunding issue)? ........ 		  X   X   X   X
16 Has the final allocation of proceeds been made? ..........   X X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X   X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2020

Schedule K (Form 990) 2020
Page 2
Part Ⅲ
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............   X       X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   X       X   X
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............   X       X   X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?                
c Are there any research agreements that may result in private business use of bond-financed property? .............   X       X   X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?                
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....SchKMediumBullet 0 % 0 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... SchKMediumBullet        
6 Total of lines 4 and 5 .............        
7 Does the bond issue meet the private security or payment test? ...   X       X   X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X       X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............   X       X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X       X   X  
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? ....... X     X   X X  
b Exception to rebate? ........   X   X   X   X
c No rebate due? .........   X X   X     X
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X   X   X   X
Schedule K (Form 990) 2020

Schedule K (Form 990) 2020
Page 3
Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X   X  
Part Ⅴ
Procedures To Undertake Corrective Action
--------------------------------------------------------------------------------------------------------------- A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
PART IV, LINE 2C REBATE COMPUTATIONS WERE PERFORMED IN THE JUNE AND JULY 2021 TIME FRAME FOR ALL SETON HALL UNIVERSITY BOND ISSUES LISTED IN PART I. THERE IS NO REBATE LIABILITY RELATED TO ANY OF THE UNIVERSITY'S ISSUES AS OF JUNE 30, 2021. PART I, COLUMN(F) DESCRIPTION OF PURPOSE 1. SETON HALL UNIVERSITY ISSUE, 2020 SERIES C (CUSIP 6460667B0), WAS ISSUED BY THE NJEFA TO FUND CAPITAL IMPROVEMENTS ON THE UNIVERSITY'S CAMPUS. In connection with this issue, the University paid $1,369,051 for bond insurance. The University did not have any private business use since the only related factor was this insurance cost. 2. SETON HALL UNIVERSITY ISSUE, 2011 SERIES A, (CUSIP NUMBER 646065U83)WAS ISSUED BY THE NJEFA TO CURRENTLY REFUND SETON HALL UNIVERSITY'S 1999 REFUNDING, 2001 SERIES A, 2001 SERIES B, AND 2001 SERIES G BOND ISSUES.THE 1999 REFUNDING ISSUE WAS ISSUED IN JULY 1999 TO REFUND THE UNIVERSITY'S 1991 SERIES D AND 1989 SERIES C ISSUES. THE 1991 SERIES D AND THE 1989 SERIES C ISSUES WERE ISSUED TO FINANCE CAPITAL IMPROVEMENTS. THE 2001 SERIES A ISSUE WAS ISSUED IN JUNE 2001 TO REFUND THE UNIVERSITY'S 1991 SERIES A ISSUE WHICH REFUNDED THE UNIVERSITY'S 1985 SERIES A ISSUE WHICH WAS ISSUED TO FINANCE CAPITAL IMPROVEMENTS. THE 2001 SERIES B ISSUE WAS ISSUED IN JUNE 2001 TO REFUND THE UNIVERSITY'S 1991 SERIES B ISSUE WHICH WAS ISSUED TO REFUND THE UNIVERSITY'S 1988 SERIES B ISSUE WHICH WAS ISSUED TO REFUND THE UNIVERSITY'S 1976 SERIES A ISSUE AND TO FINANCE CAPITAL IMPROVEMENTS. THE 1976 SERIES A ISSUE WAS ISSUED TO FINANCE CAPITAL IMPROVEMENTS. THE 2001 SERIES G ISSUE WAS ISSUED IN JUNE 2001 TO FINANCE CAPITAL IMPROVEMENTS. 3. ON APRIL 29, 2014 THE NJEFA ISSUED CIF BONDS, 2014 SERIES B, AND ADVANCE REFUNDING CIF BONDS, 2014 SERIES D, PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. ONE FORM 8038 WAS FILED BY THE NJEFA COVERING BOTH ISSUES, UNDER CUSIP NUMBER 646066DG2. GROSS PROCEEDS FROM BOTH ISSUES WERE $19,369,367 WITH THE 2014 B PORTION BEING $15,493,539 AND THE 2014 D PORTION BEING $3,875,828. THE UNIVERSITY'S PORTION OF THE $3,875,828 WAS $2,724,951 WITH $1,226,845 BEING DEBT AND THE REMAINDER BEING A GRANT. THE UNIVERSITY PAID OFF ITS 2014 SERIES D DEBT DURING IT'S FISCAL YEAR ENDED JUNE 30, 2021. THE PROCEEDS OF 2014 SERIES B WERE ALLOCATED TO SIX PRIVATE INSTITUTIONS OF HIGHER EDUCATION. SETON HALL'S APPORTIONED AMOUNT WAS $2,192,165. AFTER $12,165 OF APPORTIONED ISSUANCE COSTS, THE REMAINDER THAT WAS RECEIVED BY SETON HALL WAS $2,180,000, OF WHICH $1,165,170 WAS A GRANT AND $1,014,830 WAS DEBT REPAYABLE OVER 20 YEARS. BONDS ISSUED TO FINANCE GRANTS MUST BE APPROVED BY THE STATE TREASURER AND ARE REPAYABLE BY THE STATE SUBJECT TO APPROPRIATION. THE BONDS WERE SOLD BASED ON THE CREDIT OF THE STATE. EACH INSTITUTION ENTERED INTO A GRANT AGREEMENT OBLIGATING THE GRANTEE TO PAY A PORTION OF THE DEBT SERVICE ON THE BONDS ALLOCABLE TO THE GRANT. SETON HALL SPENT THE ENTIRE AMOUNT OF THE DEBT PROCEEDS ALLOCATED TO IT ON CAPITAL IMPROVEMENTS. 4. SETON HALL UNIVERSITY ISSUE, 2017 SERIES D (CUSIP 646066V64), WAS ISSUED BY THE NJEFA TO REFUND THE UNIVERSITY'S 2008 SERIES D BONDS AND TO PAY $4,872,000 FOR THE TERMINATION OF SWAP AGREEMENTS. 5. SETON HALL UNIVERSITY ISSUE, 2013 SERIES D, (CUSIP 6460656D9) WAS ISSUED BY THE NJEFA TO CURRENTLY REFUND SETON HALL UNIVERSITY'S 2009 C BONDS SOLD DIRECTLY TO CAPITAL ONE, N.A., FINANCE A PORTION OF THE COST OF TERMINATING THE UNIVERSITY'S INTEREST RATE SWAP AGREEMENT WITH CITIBANK, N.A. THAT HEDGED INTEREST RATE EXPOSURE RELATED TO THE 2009 C BONDS, AND TO FINANCE CAPITAL IMPROVEMENTS. THE UNIVERSITY'S 2009 SERIES C BONDS REFUNDED THE UNIVERSITY ISSUE, 1998 SERIES F, ISSUED ON JUNE 29, 1998 BY THE NJEFA TO REFUND A 1991 SERIES D SETON HALL UNIVERSITY ISSUE THAT FINANCED CAPITAL IMPROVEMENTS AT THE UNIVERSITY. THE PORTION OF THE 2013 D TOTAL PROCEEDS OF $43,935,728 THAT WAS USED TO REFUND THE 2009 C BONDS AND TO FINANCE A PORTION OF THE COST TO TERMINATE THE RELATED SWAP AGREEMENT WAS $7,800,307. 6. SETON HALL UNIVERSITY ISSUE, 2015 C (CUSIP 646066MC1) WAS ISSUED BY THE NJEFA TO ADVANCE REFUND SETON HALL UNIVERSITY'S 2008 SERIES E BONDS. THE PROCEEDS OF $24,255,807, WHICH INCLUDED A DEBT PREMIUM OF $2,050,807, TOGETHER WITH $1,850,957 OF 2008 SERIES E DEBT SERVICE RESERVE FUNDS, WERE DEPOSITED IN AN IRREVOCABLE TRUST TO PAY INTEREST ALONG WITH PRINCIPAL OUTSTANDING OF $22,030,000 ON ITS 2008 SERIES E BONDS THROUGH JULY 1, 2019, AND PAY BOND ISSUANCE COSTS OF $306,564. THE 2008 SERIES E ISSUE, ALONG WITH 2008 SERIES D, WERE ISSUED BY THE NJEFA TO CURRENTLY REFUND SETON HALL UNIVERSITY ISSUES, 2005 SERIES C AND 2006 SERIES A. THE 2005 SERIES C ISSUE FINANCED CAPITAL IMPROVEMENTS AT THE UNIVERSITY. THE 2006 SERIES A ISSUE REFUNDED THE UNIVERSITY'S 1996 SERIES E ISSUE, WHICH WAS FOR CAPITAL IMPROVEMENTS AND FOR REFUNDING THE UNIVERSITY'S 1989 SERIES C ISSUE, WHICH WAS FOR CAPITAL IMPROVEMENTS. 7. SETON HALL UNIVERSITY ISSUE, 2016 SERIES C (CUSIP 646066B66), WAS ISSUED BY THE NJEFA TO FUND CAPITAL IMPROVEMENTS ON THE UNIVERSITY'S CAMPUS. 8. ON JULY 26, 2016 THE NJEFA ISSUED CIF BONDS, 2016 SERIES A, AND REFUNDED CIF BONDS, 2006 SERIES A, AND OTHER SERIES OF CIF BONDS, PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. THE BONDS WERE ISSUED PRIVATELY (THEREFORE NO CUSIP #)IN THE PRINCIPAL AMOUNT OF $20,805,115 WHICH WAS ALLOCATED TO FOURTEEN PRIVATE INSTITUTIONS IN NEW JERSEY. THE UNIVERSITY'S SHARE OF THE PROCEEDS WAS $2,326,537, OF WHICH $1,134,796 WAS USED TO REFUND THE REMAINING UNIVERSITY BALANCE OF 2006 SERIES A AND THE REMAINDER REFUNDED OTHER STATE ISSUES THAT PROVIDED GRANT FUNDS FOR CAPITAL IMPROVEMENTS TO THE UNIVERSITY IN PRIOR YEARS. THE 2006 SERIES A BONDS PARTIALLY ADVANCE REFUNDED THE 2004 SERIES A BONDS AND OTHER SERIES OF CIF BONDS FOR CAPITAL IMPROVEMENTS. THE AMOUNTS PAYABLE TO THE STATE BY EACH INSTITUTION WERE ADJUSTED TO TAKE ACCOUNT OF ALLOCABLE DEBT SERVICES SAVINGS. 9. ON DECEMBER 20, 2016 THE NJEFA ISSUED CIF BONDS, 2016 SERIES B,PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. ONE FORM 8038 WAS FILED BY THE NJEFA COVERING THE ISSUE UNDER CUSIP NUMBER 646066F54. THE BONDS WERE ISSUED IN THE PRINCIPAL AMOUNT OF $30,676,062 WHICH WAS ALLOCATED TO A TOTAL OF TWELVE PRIVATE INSTITUTIONS IN NEW JERSEY. THE UNIVERSITY'S APPORTIONED AMOUNT, AFTER $12,153 OF APPORTIONED ISSUANCE COSTS, WAS $1,500,000. OF THIS AMOUNT THAT WAS RECEIVED BY THE UNIVERSITY, $766,748 WAS A GRANT AND $733,252 WAS DEBT REPAYABLE OVER TWENTY YEARS. BOTH AMOUNTS WERE TO BE SPENT ON CAPITAL IMPROVEMENTS. BONDS ISSUED TO FINANCE GRANTS MUST BE APPROVED BY THE STATE TREASURER AND ARE PAYABLE BY THE STATE SUBJECT TO APPROPRIATION. THE BONDS ARE SOLD BASED ON THE CREDIT OF THE STATE. EACH INSTITUTION ENTERED INTO A GRANT AGREEMENT OBLIGATING THE GRANTEE TO PAY HALF OF THE DEBT SERVICE ON THE BONDS ALLOCABLE TO THE GRANT.
Schedule K (Form 990) 2020

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