2024-04-24T09:51:10-07:00 2023-06-30 990 2022-07-01 161532850 EXCELSIOR UNIVERSITY EXCE 5184648500 7 Columbia Circle Albany NY 122035159 Richard Hannmann VP for Finance and CFO 5186088198 2024-04-26 Richard Hannmann 999009999 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z X David Schejbal 7 Columbia Circle Albany NY 122035159 79430395 0 X www.excelsior.edu X 1998 NY Excelsior University provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The University meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 18 18 1033 19 0 0 3794202 1343583 65521228 71431791 2210928 1346355 283160 314848 71809518 74436577 3926349 646717 0 0 48061238 45254931 22334 53750 448001 23205156 24071423 75215077 70026821 -3405559 4409756 65195981 69059242 21067145 19358664 44128836 49700578 X Excelsior University provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The University meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 0 1 25017577 645517 69662820 Undergrad and Graduate Tuition and Fees. During this period, 133,074 undergraduate hours of course instruction, and 15,880 hours of graduate level course instruction were delivered. 16523043 0 1493176 Enrollment in higher education. During this period, 6,887 new students enrolled in the University while there were 13,880 actively enrolled students as of 6/30/23. 3,953 degrees were awarded from July 1, 2022 through June 30, 2023. 13579 1200 275795 Administered Examinations. During this period, the University administered 687 credit bearing examinations to students enrolled in its various programs. 0 0 0 41554199 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 109 0 1 1033 1 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Fredy Rivas 5186088390 7 Columbia Circle Albany NY 122035159 David Schejbal President & Chief Executive Officer 37.50 0.00 X 563359 0 37252 Christopher Cassirer Provost (as of 9/19/2022) 37.50 0 X 302936 0 7660 Mark Howe VP of Human Resources 37.50 0 X 256414 0 17983 Richard Hannmann Vice President for Finance and CFO 37.50 0 X 231563 0 16315 Daniel Pascoe Aguilar Founding Director CSJ/CDO 37.50 0 X 188463 0 35379 Lisa Daniels AVP - Analytics Decision Support 37.50 0 X 177348 0 35792 Michael DiSiena General Counsel 37.50 0 X 178617 0 20260 Catherine Seaver Dean, School of Undergraduate Studies 37.50 0 X 170950 0 26328 Li-Fang Shih Special Advisor to Provost 37.50 0 X 154666 0 26780 Scott Dolan Dean, School of Graduate Studies 37.50 0 X 158469 0 19108 Stephanie Poczos Vice Provost, Academic Operations & Quality 37.50 0 X 165250 0 10655 James Lettko Former Chief Operating Officer (Until 6/30/2022) 37.50 0 X 160292 0 13002 Karen Halaco Sr Dir HR Prog&Comp Support 37.50 0 X 143661 0 14977 Dawn Gerrain Former Chief Marketing & Business Development Officer (Until 6/24/2022) 37.50 0 X 140356 0 14351 John Caron Former Provost and Chief Academic Officer (Until 12/3/2021) 37.50 0 X 105141 0 2822 Raul Nestor Galarza Vice President of enrollment management and marketing (as of 12/15/2022) 37.50 0 X 87464 0 6189 David Baime Board Member until 12/31/2024 1.2 0 X 0 0 0 Helen Benjamin Board member until 12/31/2022 1.2 0 X 0 0 0 Gretchen Evans Board Member until 12/31/2023 1.2 0 X 0 0 0 Jennifer Gentry Board Member until 12/31/2025 1.2 0 X 0 0 0 Karen Kocher Board Member until 12/31/2025 1.2 0 X 0 0 0 KH Maman Board Member until 12/31/2024 1.2 0 X 0 0 0 Karim Merchant Board Member until 12/31/2023 1.2 0 X 0 0 0 Khori Whittaker Board Member until 12/31/2022 1.2 0 X 0 0 0 Alec Whitters Board Member until 12/31/2023 1.2 0 X 0 0 0 Dan Greenstein Board Member until 12/31/2025 1.2 0 X 0 0 0 David Wilson Board Member until 12/31/2025 1.2 0 X 0 0 0 Lorraine Williams Chief of Staff starting 1/3/23 37.50 0 X 0 0 0 Kent Clark Treasurer until 12/31/2025 1.4 0 X 0 0 0 Don Dea Chairman until 12/31/2022 1.4 0 X 0 0 0 Charlene Dukes Board Member until 12/31/2022 then Vice Chair until 12/31/2023 1.4 0 X 0 0 0 Matthew Loeb Board Member until 12/31/2022 then Chair until 12/31/2025 1.4 0 X 0 0 0 Jeanne Meister Secretary of the Board until 12/31/2024 1.4 0 X 0 0 0 Rose Wang Vice Chair until 12/31/2022 then board member until 12/31/2025 1.4 0 X 0 0 0 3184949 0 304853 58 1 1 0 Education Dynamics PO BOX 780276 Philadelphia PA 191780276 Advertising Services 3152654 Milton S Eisenhower Library Johns Hopkins University ATTN Ken Flower Assoc Director 3400 N Charles Street Baltimore MD 21218 Library Services 1179353 Ellucian Company LP 2003 Edmund Halley Dr STE 500 Reston VA 20191 Academic Online Service 1025064 ReUp Education Inc 9901 Brodie Lane Suite 160 229 Austin TX 78748 Partnership Revenue Share 816447 Guild Education Inc 370 17th St Suite 3400 Denveor CO 80202 Partnership Revenue Share 692453 52 0 0 0 0 151377 1192206 0 1343583 Undergraduate, Graduate & Non-Credit Bearing Tuitions & Fees 611310 69662820 69662820 0 0 Enrollment Related Fees 611310 1493176 1493176 0 0 Examination Fees 611310 275795 275795 0 0 0 0 0 0 71431791 859809 0 0 859809 0 0 0 0 0 0 0 0 700863 0 408250 0 292613 0 292613 0 0 292613 5072114 0 4585568 0 486546 0 486546 0 0 486546 0 Miscellaneous 611310 22235 22235 0 0 0 0 0 0 22235 74436577 71454026 0 1638968 X 0 0 646717 646717 0 0 0 0 2560757 390938 2169819 0 0 0 0 0 35016248 26163920 8641350 210978 1780203 1173435 594520 12248 3068278 1885571 1161227 21480 2829445 1974956 839546 14943 0 0 0 0 192271 0 192271 0 82850 0 82850 0 143395 0 143395 0 53750 53750 40103 0 40103 0 7194610 5580361 1607458 6791 3963831 0 3963831 0 1359419 675082 626695 57642 5703494 1075931 4583082 44481 0 0 0 0 935857 480384 455473 0 326878 214960 93337 18581 0 0 0 0 121985 45590 71314 5081 12034 0 12034 0 0 0 0 0 1742474 1157215 585259 0 314711 0 314711 0 Credit Card Fees 546676 0 546676 0 University wide Bad Debt Expenses 1273446 0 1273446 0 Misc. Expenses 117389 89139 26224 2026 70026821 41554199 28024621 448001 -737909 -769640 9578025 16433167 19112 14159 6861578 8722698 0 0 0 0 0 5673 0 0 2879544 2289403 35284952 19454597 17092660 15830355 28486292 25752394 0 0 122683 108429 0 0 893996 672604 65195981 69059242 7236675 6642425 0 0 4944311 4589628 0 0 0 0 0 0 8878620 8119465 0 7539 7146 21067145 19358664 X 41035159 46392398 3093677 3308180 44128836 49700578 65195981 69059242 4409756 1161986 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 165935 0 1 12838 178773 0 Schedule C, Part II-B, Line 1 Most of the time/cost is spend in direct contact with various state or federal legislative members and agency officials, periodically in coordination with the University's registered lobbyist consultants, advocating on behalf of the University. The University intermittently works to have state statutes and/or regulations changed, introduced, or interpreted to ensure that the University's interests are advanced. Activities included, for example, work with state officials regarding licensure eligibility criteria for programs leading to professional licensure in nursing. Time was also spent sharing the University's perspective on the effectiveness of the current state authorization reciprocity agreements framework with federal education officials. Lastly, efforts were directed toward increasing military tuition assistance at the federal level. 0 70300 0 0 X 0 28337992 86426 2304124 89265 5000000 38258 25601019 37961691 103063 -4604065 80943 5000000 41754 28337992 30443033 69014 7563087 76491 0 36952 37961691 27713660 1069069 1760025 69393 0 30328 30443033 26068510 58474 1680359 61536 1295 30852 27713660 0.9087 0.0657 0.0256 0 0 0 3191185 3191185 0 19329771 8483371 10846400 0 7879 7488 391 0 12442597 10842377 1600220 0 313520 121361 192159 15830355 0 Liabilities to beneficiaries under split interest agreements 7146 7146 X 76007299 1161986 486 0 0 1162472 74844827 0 -408250 -408250 74436577 70435557 486 0 0 0 486 70435071 0 -408250 -408250 70026821 Schedule D, Part III, Line 4 Consists of various paintings that have been donated to and or purchased by the University and have been recorded at their appraised fair market value at the time of donation, or cost at time of purchase. This collection aids in fostering a sense of community and appreciation of the arts for students, faculties and support staffs of the University. Schedule D, Part V, Line 4 The intended use of the University's endowment is primarily for scholarships which are given to students to defray the cost of degree completion. Schedule D, Part X, Line 2 The University is classified for tax purposes as an organization under Section 501(c)(3) of the Internal Revenue Code, and except for unrelated business income, if any, is exempt from federal income taxes under Section 501(a) of code. Therefore, no provision for income taxes is made in the accompanying financial statements. The University follows the FASB guidance regarding accounting for uncertain tax positions. The University believes that it has no uncertain tax positions taken or expected to be taken that could result in an unrecognized tax benefit liability. The University has no federal or state informational tax returns that are currently under examination by the Internal Revenue Service ("IRS") or state authorities. Schedule D, Part XI, Line 4b This amount relates to rental expenses. Schedule D, Part XII, Line 4b This amount relates to rental expenses. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 Schedule E, Part I, Line 3 The organization meets the criteria established in section 4 03-2 of revenue procedures 75-50. The University draws a substantial percentage of its students nationwide and follows a racially nondiscriminatory policy as to students. It satisfies the publicity requirement by including a statement of its racially nondiscriminatory policy as to students in all its brochures and catalogs dealing with student admissions, programs, and scholarships. It also references its racially nondiscriminatory policy in other written advertising that it uses as a means of informing prospective students of its programs. Schedule E, Part I, Line 6 The University receives government assistance in the form of: Federal Direct Loans, Pell grants, FSEOG grants, NYS TAP grants, NYS APTS grants, Federal HEERF grants, HRSA Nursing Student Loan Program and HRSA Nursing Faculty Loan Program. The University's participation in the HRSA Nursing Student Loan Program- Baccalaureate Level was revoked on 10/30/2013, due to loan default rates above the acceptable maximum (5%). This program is calculated on dollars in default rather than borrowers in default as is the case in most student loan programs. At the time the program was revoked 5 borrowers were in default with a total loan balance of $6,844 (11.31%). As of June 30, 2016 the University had returned the entire Federal capital contribution and terminated participation in the HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The University continues to honor all existing terms and provisions including those related to cancellation and deferment, to which borrowers are entitled. X X X X X 1 George Fund Development Group 2067 Wright Road Cazenovia NY 13035 George Fund Development Group offers Excelsior University advice and guidance on prospective donors. They conducted interviews on Excelsior's behalf to identify contributors that Excelsior should focus solicitations on and created detailed campaign strategies and recommendations. 0 0 53750 -53750 0 53750 -53750 NY 1 Scholarships 771 646717 0 Schedule I, Part I, Line 2 The University provides individual scholarship assistance to enrolled students in order to defray the cost of tuition and fees. The assistance is provided through direct credit to the student's account with the University, ensuring funds are utilized for their intended purpose. Depending on the source of funds, there may be donor stipulations which students may need to adhere to in order to maintain eligibility of funds. In the event of such, ongoing monitoring is performed by the University's Financial Aid department. X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 David Schejbal President & Chief Executive Officer 458834 0 46800 0 57725 0 21350 0 16298 0 601007 0 0 0 Christopher Cassirer Provost Starting 9/19/2022 298277 0 0 0 4659 0 0 0 7918 0 310854 0 0 0 Mark Howe VP of Human Resources 254434 0 0 0 1980 0 17813 0 566 0 274793 0 0 Richard Hannmann Vice President for Finance and CFO 231463 0 0 0 100 0 16204 0 873 0 248640 0 0 0 Michael DiSiena General Counsel 178277 0 0 0 340 0 12600 0 7708 0 198925 0 0 0 Raul Nestor Galarza Vice President of enrollment management and marketing (as of 12/15/2022) 87308 0 0 0 156 0 5459 0 988 0 93911 0 0 0 Catherine Seaver Dean, School of Undergraduate Studies 168970 0 0 0 1980 0 11251 0 15335 0 197536 0 0 0 Scott Dolan Dean, School of Graduate Studies 158124 0 0 0 345 0 11591 0 7774 0 177834 0 0 0 Daniel Pascoe Aguilar Founding Director CSJ/CDO 177272 0 10000 0 1191 0 12950 0 22687 0 224100 0 0 0 Lisa Daniels AVP - Analytics Decision Support 176583 0 0 0 765 0 12495 0 23435 0 213278 0 0 0 Stephanie Poczos VP, Academic Ops&Quality 152212 0 0 0 13038 0 10655 0 90 0 175995 0 0 0 Li-Fang Shih Special Advisor to Provost 154207 0 0 0 459 0 11200 0 15670 0 181536 0 0 0 Karen Halaco Sr Dir HR Prog&Comp Support 141737 0 0 0 1924 0 10252 0 5121 0 159034 0 0 0 James Lettko Former Chief Operating Officer (Until 6/30/2022) 159302 0 0 0 990 0 11269 0 2129 0 173690 0 0 0 Dawn Gerrain Former Chief Marketing & Business Development Officer (Until 6/24/2022) 139986 0 0 0 370 0 10097 0 4392 0 154845 0 0 0 John Caron Former Provost and Chief Academic Officer (Until 12/3/2021) 105042 0 0 0 99 0 2459 0 620 0 108220 0 0 0 Schedule J, Part I, Line 1a A monthly housing allowance is provided to the President and is included in his taxable wages. The University reimburses a portion of health club dues of its employees as part of the University's wellness initiative policy. This benefit is available to all university employees and is included in the taxable income of employees who use this benefit. Schedule J, Part I, Line 4 John Caron received $70,269 severance payment in CY 2022. Form 990, Part III, Line 3 The University, as a distance learning institution, delivers its instruction in the on-line environment as well as through credit by examination, and effective fiscal year 2023, examinations were no longer offered at the University. The revenue recognized in fiscal year 2023 was from scheduled examinations before ceasing services. Form 990, Part VI, Section B, Line 11b The Form 990 was prepared by the accounting services department at the University. The information within the return was obtained through input from several Officers of the University. Following internal preparation of the return, it was forwarded to the University's independent auditors to seek their input before forwarding to the Audit, Risk, and Compliance Committee of the Board of Trustees. The Audit, Risk, and Compliance Committee reviewed the final return in depth via teleconference with the Officers of the University and accounting staff. Management at the University guided the Audit, Risk, and Compliance Committee through various schedules included in the filing noting the purpose of the schedule and identifying the origin and sources of the content contained within. All questions posed by the Committee were answered by the management of the University as documented in the minutes to the meeting. The final return was made available for inspection and review to all Board Members before final filing with the IRS. Form 990, Part VI, Section B, Line 12c The University has maintained and periodically updated a conflicts of interest policy since 1998. The policy is annually distributed to all trustees, officers and key employees, along with a disclosure statement form on which such individuals are to specify actual and potential conflicts of interest. The Chair of the Audit, Risk, and Compliance Committee, in conjunction with the University's General Counsel, reviews and evaluates disclosure statements and takes appropriate action to ensure compliance with the policy. Form 990, Part VI, Section B, Line 15 Per the University bylaws, the Board is required to from time to time determine the compensation of the President, and approve the compensation of all other officers of the University, which should in all cases be reasonable and commensurate with the services performed by them. The University, under the guidance of the Board of Trustees, conducts regular reviews of President and other senior leader compensation using purchased and other available compensation surveys and studies, as well as the intermittent use of an external independent compensation consultant. The most recent review was done in December 2023 in preparation for the renewal of the President's employment contract. This review looked at comparative data from a competitive pool of higher education institutions using the most recently available IRS Form 990 compensation data and "aging" the data as appropriate using industry-accepted standards. The President's contract is subject to renewal, extension, or termination every three to five years depending on the contract terms by the Board of Trustees. Additionally, the compensation of the President is reviewed annually and any changes are approved by the Executive Committee of the Board of Trustees. Each year the President and the Board agree to annual goals and the President provides monthly reports on the progress toward these goals. His achievements are the basis for an annual performance review conducted by the Executive Committee of the Board. All Board discussions are documented in the Board of trustee meeting minutes. The president's compensation is, in part, derived from the terms of his contract. The President's compensation is regularly reviewed to ensure that it is reasonable and compliant with Intermediate Sanctions guidelines according to Treasury Final Regulations Section 53.4958-1. The office of Human Resources establishes compensation within various grade levels at the University based on several factors such as the current local job market and hiring rate in our area, the national job market and relevant compensation data, the demographics of the region including the degree of difficulty and competition in acquiring the particular talent. In addition, we conduct an annual review of our salary levels and key positions in comparison to a market salary analysis tool and adjust our compensation structure and targeted position salaries accordingly. The study gathers data at the national level as well as industry-specific data and job market information for our region of the country. Salaries within the organization were comparable against this data and targeted adjustments are made where appropriate. The study assesses positions and makes comparisons to comparable staff positions at similarly situated institutions. The review has two objectives: 1. Determine if current pay levels are commensurate with peer roles at peer institutions, and 2. Ensure that compensation is in line with Section 4958 of the Internal Revenue Code. The results of the survey suggested that the University is in line with respect to Section 4958 of the Internal Revenue Code. Form 990, Part VI, Section C, Line 19 Governing documents, the conflict-of-interest policy and the financial statements are available upon request in hard copy and electronic (.pdf) form. Form 990, Part IX, Line 11g Consultant Honoraria $122,543; Consulting Services $1,792,341; Health and Wellness $9,213; Professional Service Contracts $11,750; Exam Administration $7,919; Library Headcount $551,120; Other Contractual Services $1,179,777; Videotaping $88,729; Recruiting and Onboarding $233,850; Graphic Resources $11,731; Course Development $11,132; External Call Center $359,844; External Evaluation $4,075; Reseller Revenue Share $2,783,923; Real Estate Commission $26,663.