2025-04-29T15:25:50-07:00 2024-06-30 990 2023-07-01 161532850 EXCELSIOR UNIVERSITY EXCE 5184648500 7 Columbia Circle Albany NY 122035159 Richard Hannmann VP for Finance and CFO 5186088198 2025-04-30 1 2023 2025-03-06 01:10:19Z David Schejbal 7 Columbia Circle Albany NY 122035159 83328681 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. 13 13 954 14 0 0 1343583 758980 71431791 80174163 1346355 1711389 314848 338693 74436577 82983225 646717 2024138 0 0 45254931 47902772 53750 112250 690389 24071423 26942206 70026821 76981366 4409756 6001859 69059242 74733671 19358664 16601845 49700578 58131826 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 0 27427295 1999138 78199935 Undergrad and Graduate Tuition and Fees. During this period, 138,981 undergraduate hours of course instruction, and 14,629 hours of graduate level course instruction were delivered. 16393226 0 1974228 Enrollment in higher education. During this period, 5,476 new students enrolled in the University while there were 11,904 actively enrolled students as of 6/30/24. 4,018 degrees were awarded from July 1, 2023 through June 30, 2024. 0 0 0 43820521 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 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 112 0 1 954 1 0 0 0 0 0 0 0 0 X 13 13 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 X 583902 0 31811 Christopher Cassirer Provost 37.50 X 348697 0 38341 Francisco Azuola CIO 37.50 X 287310 0 41983 Mark Howe VP of Human Resources 37.50 X 279244 0 19652 Lorraine Williams Chief of Staff 37.50 X 288249 0 8636 Richard Hannmann Vice President for Finance and CFO 37.50 X 257769 0 18149 Raul Nestor Galarza Vice President of enrollment management and marketing 37.50 X 231595 0 17619 Stephanie Poczos Vice Provost, Academic Operations & Quality 37.50 X 223382 0 14538 Scott Dolan Executive Dean, CLAS 37.50 X 203322 0 20672 Daniel Pascoe Aguilar Founding Director CSJ/CDO 37.50 X 183942 0 36471 Michael DiSiena General Counsel 37.50 X 186172 0 21199 Jamie Furgang AVP - Dev&Alumni Affairs 37.50 X 160051 0 19828 Karen Halaco Sr Dir HR Prog&Comp Support 37.50 X 152155 0 26761 Robin Goodrich Executive Dean, CNHS starting 8/2023 37.50 X 162536 0 10214 Christine Thorpe Executive Dean, CNHS Until 8/2023 37.50 X 162190 0 9642 Tracy Caldwell Assoc Dean- Liberal Arts 37.50 X 135196 0 14347 David Baime Board Member until 12/31/2024 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 Alec Whitters Board Member until 7/8/2023 1.2 0 X 0 0 0 Dan Greenstein Board Member until 12/31/2025 1.2 0 X 0 0 0 Kent Clark Treasurer until 12/31/2025 1.4 0 X 0 0 0 Charlene Dukes Vice Chair until 12/31/2024 1.4 0 X 0 0 0 Matthew Loeb 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 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 3845712 0 349863 55 0 1 0 Education Dynamics PO BOX 780276 Philadelphia PA 191780276 Advertising Services 2541950 A BOOK COMPANY LLC 2373 Palumbo Dr Lexington KY 40509 Bookstore 1668368 Guild Education Inc 370 17th St Suite 3400 Denveor CO 80202 Partnership Revenue Share 1502280 ReUp Education Inc 9901 Brodie Lane Suite 160 229 Austin TX 78748 Partnership Revenue Share 917248 Ellucian Company LP 2003 Edmund Halley Dr STE 500 Reston VA 20191 Academic Online Service 726099 46 0 0 0 0 146033 612947 0 758980 Graduate, UG & Non-Credit Bearing Tuition & Fees 611310 78199935 78199935 0 0 Enrollment Related Fees 611310 1974228 1974228 0 0 0 0 0 0 80174163 1615574 0 0 1615574 0 0 0 0 0 0 0 0 709204 0 392770 0 316434 0 316434 0 0 316434 48501 0 -47314 0 95815 0 95815 0 0 95815 0 Merchandise 611310 776 776 0 0 Miscellaneous 611310 21483 21483 0 0 0 0 0 0 22259 82983225 80196422 0 2027823 X 25000 25000 1999138 1999138 0 0 0 0 3305994 571028 2734966 0 0 0 0 0 36185120 26656729 9231140 297251 1952711 1210439 723695 18577 3500645 2011922 1457373 31350 2958302 1960477 976137 21688 0 0 0 0 293347 0 293347 0 83200 0 83200 0 170745 0 170745 0 112250 112250 59301 0 59301 0 8184872 5717344 2436568 30960 4769858 0 4769858 0 1286176 646778 574047 65351 5965590 1118619 4788118 58853 0 0 0 0 918782 448579 470203 0 452683 251713 164999 35971 0 0 0 0 201519 63901 126979 10639 1211 0 1211 0 0 0 0 0 1681744 1069556 612188 0 338367 0 338367 0 Credit Card Fees 328450 0 324021 4429 University Wide Bad Debt Expense 2095072 0 2095072 0 Miscellaneous Expenses 111289 69298 38921 3070 0 76981366 43820521 32470456 690389 -769640 -648926 16433167 19622701 14159 35980 8722698 8982324 0 0 5673 384 0 0 2289403 2053614 35401882 20369893 15830355 15031989 25752394 28979113 0 0 108429 71546 0 0 672604 604946 69059242 74733671 6642425 8705888 0 0 4589628 4050380 0 0 0 0 0 8119465 3838813 0 0 7146 6764 19358664 16601845 X 46392398 54503593 3308180 3628233 49700578 58131826 69059242 74733671 6001859 2429389 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 190176 0 1 25171 215347 0 Schedule C, Part II-B, Line 1 Most of the time/cost is spent 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 25601019 129881 3275223 91832 0 48965 28865326 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 0.9059 0.0641 0.03 0 0 0 3191185 3191185 0 19319981 9308841 10011140 0 0 0 0 0 12592082 10940064 1652018 0 298634 120988 177646 15031989 0 Liabilities to beneficiaries under split interest agreements 6764 6764 X 83756607 2429389 9663 0 -2058440 380612 83375995 0 -392770 -392770 82983225 75325359 9663 0 0 -2058440 -2048777 77374136 0 -392770 -392770 76981366 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 2d Institutional Scholarship of $1,999,138 and Investment Fee of $59,302. Schedule D, Part XI, Line 4b This amount relates to rental expenses. Schedule D, Part XII, Line 2d Institutional Scholarship of $1,999,138 and Investment Fee of $59,302. 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, HRSA Nursing Student Loan program and the 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 five 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 112250 -112250 0 112250 -112250 NY 1 Army War College Foundation Inc 651 Wright Avenue Carlisle PA 17013 232034407 25000 To help support the mission of the foundation. Army War College 990 description of mission: The foundation engages in charitable and educational endeavors, to support educational programs of the US Army War College and its graduates. 1 0 The University provides individual scholarship assistance to enrolled students to defray the cost of tuition and fees. This 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 maintain eligibility of funds. In the event of such, ongoing monitoring is performed by the University's Financial Aid department. 1672 1999138 Schedule I, Part I, Line 2 The University provides individual scholarship assistance to enrolled students to defray the cost of tuition and fees. This 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 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 X 1 0 0 0 0 0 0 0 0 David Schejbal President & Chief Executive Officer 480010 0 55973 0 47920 0 23100 0 9107 0 616110 0 0 0 Christopher Cassirer Provost 347407 0 0 0 1290 0 23100 0 15499 0 387296 0 0 0 Francisco Azuola CIO 266020 0 0 0 21290 0 19250 0 22991 0 329551 0 0 0 Mark Howe VP of Human Resources 277264 0 0 0 1980 0 19482 0 566 0 299292 0 0 0 Lorraine Williams Chief of Staff 266574 0 0 0 21675 0 0 0 9032 0 297281 0 0 0 Richard Hannmann Vice President for Finance and CFO 257669 0 0 0 100 0 18038 0 873 0 276680 0 0 0 Raul Nestor Galarza Vice President of enrollment management and marketing 231145 0 0 0 450 0 16231 0 1646 0 249472 0 0 0 Stephanie Poczos Vice Provost, Academic Operations & Quality 207692 0 0 0 15690 0 14538 0 90 0 238010 0 0 0 Scott Dolan Executive Dean, CLAS 202872 0 0 0 450 0 14621 0 6309 0 224252 0 0 0 Daniel Pascoe Aguilar Founding Director CSJ/CDO 182652 0 0 0 1290 0 13348 0 23381 0 220671 0 0 0 Michael DiSiena General Counsel 185902 0 0 0 270 0 13139 0 8108 0 207419 0 0 0 Jamie Furgang AVP - Dev&Alumni Affairs 159601 0 0 0 450 0 11738 0 8179 0 179968 0 0 0 Karen Halaco Sr Dir HR Prog&Comp Support 150175 0 0 0 1980 0 10855 0 16302 0 179312 0 0 0 Robin Goodrich Executive Dean, CNHS starting 8/2023 133946 0 20000 0 8590 0 0 0 10472 0 173008 0 0 0 Christine Thorpe Executive Dean, CNHS Until 8/2023 137308 0 0 0 24882 0 9642 0 138 0 171970 0 0 0 Schedule J, Part I, Line 1a A monthly housing and car allowance was provided to the President and is included in his taxable wages. The University grossed up taxable wage payments to the President to reimburse the president for taxes incurred related to life insurance benefits. Additionally, the University paid social club dues on behalf of the President for business use relating to university matters only, this was not treated as taxable income to him. 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 Christine Thorpe received $16,153.84 severance payment in CY2023. Upstate Commercial Property Management Substantial Contributor 124571 Management & Facility Engineer Service Charge 0 Schedule L, Part IV In 2024, Upstate Commercial Property Management LLC donated $5,000 to the University. Upstate Commercial Property Management LLC provided Management & Facility Engineer services to the University, charging a total of $124,571.35. 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, Compliance and Risk Management Committee of the Board of Trustees. The Audit, Compliance and Risk Management 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, Compliance and Risk Management 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 disclosure statement form on which such individuals are to specify actual and potential conflicts of interest. The Chair of the Audit, Compliance and Risk Management 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 June 2024 in preparation for the renewal of the President's employment contract. This review was conducted using a highly-regarded external consulting firm and included a review of comparative data from a competitive pool of higher education institutions. This external study included a review of compensation for all officers of the university. The President's contract is subject to renewal, extension, or termination every three to five years depending on the contract terms set 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 $86,801; Consulting Services $2,377,520; Health and Wellness Expense $14,989; Professional Service Contracts $22,500; Other Contractual Services $1,122,850; Recruiting and Onboarding $153,071; Photography-Videography $193,697; Graphic Resources $12,895; Course Development $1,305; External Call Center $208,267; External Evaluation Expense $17,125; reseller Revenue Share $3,947,189; and Real Estate Commission $26,663.