2022-05-07T08:23:51-07:00 2021-06-30 200609534 DESENA & COMPANY CPAS LLC 100 Eagle Rock Avenue Suite 110 East Hanover NJ 07936 990 2020-07-01 131740285 NYACK COLLEGE NYAC 6463786100 2 WASHINGTON STREET NEW YORK NY 10004 RAJAN S MATHEWS - 712021 President 2022-05-07 false RAJAN S MATHEWS - 999009999 Raymond B Desena CPA P00528300 9736023300 2 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z RAJAN S MATHEWS - 712021 2 WASHINGTON STREET NEW YORK NY 10004 101005765 false X www.nyack.edu X 1944 NY NYACK COLLEGE, A CHRISTIAN & MISSIONARY ALLIANCE EDUCATIONAL INSTITUTION, THROUGH ITS UNDERGRADUATE, GRADUATE AND SEMINARY PROGRAMS, PURSUES ITS HISTORICAL MISSION OF PREPARING MEN & WOMEN TO "TAKE THE WHOLE GOSPEL TO THE WHOLE WORLD." 23 16 661 0 4211607 12894717 35077054 36412528 296510 28804001 406471 191596 39991642 78302842 12721592 17515807 0 17106530 15504044 0 242796 22376959 20995353 52205081 54015204 -12213439 24287638 79649506 64564725 98758204 59154993 -19108698 5409732 NYACK COLLEGE, A CHRISTIAN & MISSIONARY ALLIANCE EDUCATIONAL INSTITUTION, THROUGH ITS UNDERGRADUATE, GRADUATE AND SEMINARY PROGRAMS, PURSUES ITS HISTORICAL MISSION OF PREPARING MEN & WOMEN TO "TAKE THE WHOLE GOSPEL TO THE WHOLE WORLD." false false 30772127 17515807 34161175 EDUCATION OF 2,479 STUDENTS AT CAMPUSES LOCATED IN NYACK AND LOWER MANHATTAN, NEW YORK WITH AN EXTENSION SITE LOCATED IN PUERTO RICO, PLUS ONLINE PROGRAMS 14033503 STUDENT SERVICES AND AUXILIARY ENTERPRISES 2317966 ACADEMIC SUPPORT 47123596 true true false false false false false false false true true false false false true false true true true false false false false false false false false false true true false false false false false false false false false false false false true true false false false true 101 0 true 661 true false false false false false true true false 0 false false false false false false false X 23 16 false false false false false false false true true false true true true true true true true true true true false NY X CORNELIUS F SPITZER 6463786146 2 WASHINGTON STREEET NEW YORK NY 10004 DR MICHAEL G SCALES - 63021 President 40.00 0.00 X X 206293 0 80090 DAVID C JENNINGS EXEC VP/TREAS. 40.00 0.00 X 138000 0 100353 DAVID F TURK PROVOST & VP 40.00 0.00 154334 0 26299 KENNETH E BALDES Trustee 2.40 40.00 X 0 138407 22358 DR GARY D FRIESEN Trustee 2.40 40.00 X 0 79660 69653 CORNELIUS F SPITZER CFO 35.00 0.00 109668 0 29676 STEPHEN MARET PROF OF PSYCHOLOGY 40.00 0.00 114148 0 12002 ANITA L UNDERWOOD DEAN BUS & LEADRSH 40.00 0.00 108193 0 11002 JEFFREY T QUINN VP COLLEGE RELATNS 40.00 0.00 105247 0 0 REV KELVIN WALKER Trustee 2.40 40.00 X 0 26045 58990 REV THOMAS R FLANDERS Trustee 2.40 40.00 X 0 45678 30416 DR DUANE A WHEELAND VICE CHAIRMAN 2.40 40.00 X X 0 73974 0 REV HAN YOUNG BAEK Trustee 2.40 40.00 X 0 14937 0 WILLIAM M BEATTY Trustee 2.40 0.00 X 0 0 0 REV DR VICTOR W CHAN Trustee 2.40 0.00 X 0 0 0 GLENN G DAVES Trustee 2.40 0.00 X 0 0 0 DR ROCKWELL L DILLAMAN Trustee 2.40 0.00 X 0 0 0 DR PAUL D GLENN Secretary 2.40 0.00 X X 0 0 0 ANNE SNYDER BROOKS Trustee 2.40 0.00 X 0 0 0 J MICHAEL KNEFLEY Trustee 2.40 0.00 X 0 0 0 REV DR DENNY KRAJACIC Trustee 2.40 0.00 X 0 0 0 DR TZUO-YAN LEE Trustee 2.40 0.00 X 0 0 0 J ROBERT CIMINERA Trustee 2.40 0.00 X 0 0 0 DR JOHN PRAVEEN Trustee 2.40 0.00 X 0 0 0 DWIGHT D SAFER Trustee 2.40 0.00 X 0 0 0 REV SCOTT G SLOCUM BOARD CHAIRMAN 2.40 0.00 X X 0 0 0 MRS PAULETTE ZIMMERMAN Trustee 2.40 0.00 X 0 0 0 DR CAROLYN TONGE Trustee 2.40 0.00 X 0 0 0 VIVIAN A PRICE Trustee 2.40 0.00 X 0 0 0 RAJAN S MATHEWS - 712021 President 40.00 0.00 X 0 0 0 935883 378701 440839 8 false true false PRYOR CASHMAN LLP 7 TIMES SQUARE NEW YORK NY 100366569 LEGAL SERVICE 449703 OAK SECURITY GROUP LLC 10640 E 59TH STREET INDIANAPOLIS IN 46236 SECURITY 106143 BKD LLP 1155 AVENUE OF THE AMERICAS NEW YORK NY 100362711 ACCOUNTING/AUDIT 104500 ELECTRIC SYMPHONY LLC PO BOX 21940 NEW YORK NY 10087 CONTRACTOR 415150 4 737499 9320086 2837132 12894717 AUXILIARY ENTERPRISES 611710 2251353 2251353 GROSS TUITION & FEES 611600 34161175 34161175 36412528 343359 343359 0 0 0 5663565 45500000 5337436 17365487 326129 28134513 28460642 28460642 0 0 0 INTEREST INC ON ACCTS REC 522220 129805 129805 MISCELLANEOUS 900099 61791 61791 191596 78302842 36412528 28995597 0 17515807 17515807 0 0 529382 529382 0 12164444 10932293 1229069 3082 542 542 2037022 1933109 103368 545 772654 674809 97655 190 0 80423 80423 119000 119000 0 0 3337 3337 3147905 2706674 246589 194642 489085 482435 6650 827888 435514 371186 21188 145415 145415 0 4759508 4254138 501139 4231 123603 82168 41435 0 0 5347327 2719457 2617240 10630 0 2112413 1937064 168650 6699 530449 384984 144268 1197 STUDENT RELIEF EXPENDITURES 2265049 2265049 OTHER EXPENSES 292284 248922 43143 219 BAD DEBT 275863 275863 STUDENT INSURANCE 245124 245124 230680 160634 69873 173 54015204 47123596 6648812 242796 0 2470131 3485743 5297606 5627680 2562450 1876474 0 0 477071 275761 0 799484 1509682 63306629 15254040 63465153 48052589 2455572 1198501 0 0 0 2122039 2538295 79649506 64564725 2236530 2793478 1356119 1421007 90624110 51620317 4541445 3320191 98758204 59154993 X -33239331 -9445631 14130633 14855363 -19108698 5409732 79649506 64564725 24287638 230792 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13873862 123569 749172 210650 14535953 13600434 80925 477973 285470 13873862 13396332 46310 475017 317225 13600434 13129960 100308 474824 308760 13396332 12164319 116729 1108375 259463 13129960 0.77380 0.22620 false true true 52769194 7806282 44962912 10044241 7102577 2941664 493194 345181 148013 48052589 DEFERRED RENT 2029826 MORTGAGE PAYABLE ALLIANCE DEVELOPMENT FD 178220 POST-RETIREMENT LIABILITY 958261 US GOV'T REFUNDABLE GRANTS 153884 3320191 61014490 230792 230792 60783698 3337 17515807 17519144 78302842 36496060 36496060 3337 17515807 17519144 54015204 Part V, Line 4: Intended uses of the endowment fund. ENDOWMENT FUNDS ARE RESTRICTED FOR INVESTMENT IN PERPETUITY, THE INCOME FROM WHICH IS EXPENDABLE TO SUPPORT SCHOLARSHIPS AND FELLOWSHIPS ($13,768,220), LIBRARY ACQUISITIONS ($223,258) AND GENERAL ACTIVITY OF THE COLLEGE ($544,475).DUE TO OPERATING CASH NEEDS, THE COLLEGE HAS PERIODICALLY BORROWED DONOR-RESTRICTED ENDOWMENT FUNDS. THE CUMULATIVE AMOUNT BORROWED AND OUTSTANDING AS OF JUNE 30, 2021 IS $10,795,320. DURING THE YEAR ENDED JUNE 30, 2021, THE COLLEGE HAD ADDITIONAL BORROWINGS AND ACCURED INTEREST OF $2,503,556 AND MADE REPAYMENTS AND DRAWS FOR SCHOLARSHIPS OF $1,000,936. Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S GRANTS & ALLOCATIONS $17515807 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S GRANTS & ALLOCATIONS $17515807 true true true true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NYACK COLLEGE MAKES ITS RACIALLY NON-DISCRIMINATORY POLICY KNOWN THROUGH ALL FORMS OF MEDIA EMPLOYED TO SOLICIT STUDENTS AND SERVE ITS GENERAL CONSTITUENCY. Schedule E, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency THE COLLEGE RECEIVED GOVERNMENT GRANTS TOTALING $9,320,086. true 0 0 SCHOLARSHIPS 1181 17515807 Grantmaker's Description of How Grants are Used NYACK COLLEGE GRANTS FUNDS TO STUDENTS IN THE FORM OF SCHOLARSHIPS, STUDENT LOANS, AS WELL AS OTHER FINANCIAL AID. FINANCIAL AID IS GRANTED TO SDTUDENTS BASED ON ELIGIBILITY GUIDELINES AS DEFINED BY THE FEDERAL DEPARTMENT OF EDUCATION, THE STATE OF NEW YORK AND NYACK COLLEGE'S SCHOLARSHIP AND GRANT PROGRAMS. NYACK COLLEGE GRANTS FUNDS TO STUDENTS IN THE FORM OF INSTITUTIONAL AID BASED ON MERIT, NEED, AND OTHER SPECIFIC CRITERIA AS OUTLINED IN NYACK'S SCHOLARSHIP AND GRANT PROGRAM. X true true X X X false false false false false false false false false DAVID C JENNINGS EXEC VP/TREAS. 138000 100353 238353 DAVID F TURK PROVOST & VP 154334 26299 180633 DR MICHAEL G SCALES - 63021 President 206293 80090 286383 KENNETH E BALDES Trustee 138407 22358 160765 Part I, Line 1a: Relevant information in regards to selections on 1a. Form 990, Part VI, Line 11b: Form 990 Review Process THE BOARD OF TRUSTEES RECEIVE KEY REPORTS THROUGH A WEB BASED DOCUMENT ROOM. FORM 990 IS DISTRIBUTED TO THE AUDIT REVIEW COMMITTEE PRIOR TO ITS FILING AND THE BOARD IS NOTIFIED THAT THE FORM 990 HAS BEEN ADDED TO THE WEB BASED DOCUMENT ROOM FOR THEIR REVIEW. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ON AN ANNUAL BASIS, THE BOARD OF TRUSTEES AND OFFICERS FILL OUT A CONFLICT OF INTEREST QUESTIONNAIRE. THE QUESTIONNAIRES ARE REVIEWED AS PART OF THE ANNUAL AUDIT PROCESS. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management THE DIRECTOR OF HUMAN RESOURCES COMPILES COMPARATIVE DATA ON OFFICER'S SALARIES AS WELL AS HISTORICAL SALARY LEVELS AND INCREASES. THIS DATA IS GIVEN TO THE PRESIDENT AND CHAIRMAN OF THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD OF TRUSTEES APPROVES ALL SALARY RECOMMENDATIONS FOR OFFICERS REPORTING TO THE PRESIDENT. THE CHAIRMAN OF THE BOARD OF TRUSTEES CHAIRS THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES WHICH REVIEWS AND MAKES SALARY AND COMPENSATION DECISIONS FOR THE PRESIDENT ANNUALLY. IN ADDITION, THE FULL BOARD INFORMALLY REVIEWS THE PRESIDENT SEMI-ANNUALLY IN EXECUTIVE SESSION AND DOES A FORMAL WRITTEN EVALUATION EVERY THREE YEARS AS PART OF THE PRESIDENT'S CONTRACT RENEWAL. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees THE COMPENSATION FOR THE OTHER OFFICERS AND KEY EMPLOYEES ARE SUBJECT TO REVIEW AND APPROVAL PROCESS BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE COLLEGE MAKES ITS GOVNERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. NYACK 2 WASHINGTON LLC 2 WASHINGTON STREET NEW YORK NY 10004 364830905 SEE SCHEDULE R, PART VII SUPPLEMENTAL INFORMATION DE 54928353 NYACK COLLEGE CHRISTIAN & MISSIONARY ALLIANCE 8595 EXPLORER DRIVE COLORADO SPRINGS CO 80920 131623940 MINISTRY CO 501(c)(3) 1 NA false ORCHARD ALLIANCE 8595 EXPLORER DRIVE COLORADO SPRINGS CO 80920 841466105 MINISTRY CO 501(c)(3) 1 NA false false false true false true true false false false false false false false false false false false false false CHRISTIAN & MISSIONARY ALLIANCE c 737499 CASH RECEIVED ORCHARD ALLIANCE e 178220 BALANCE OF LOAN ORCHARD ALLIANCE f 145562 CASH RECEIVED PART I, (b), PRIMARY ACTIVITY OF DISREGARDED ENTITIES NYACK 2 WASHINGTON LLC IS NOT FORMED FOR PECUNIARY PROFIT OR FINANCIAL GAIN. THE COMPANY IS IRREVOCABLY DEDICATED TO AND OPERATED EXCLUSIVELY FOR NON-PROFIT PURPOSES. THE PURPOSES FOR WHICH THE COMPANY IS FORMED IS EXCLUSIVELY FOR EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR ANY SUCCESSOR THERETO, AS SUCH MAY BE AMENDED FROM TIME TO TIME.SO LONG AS THE COMPANY HAS ANY OBLIGATION UNDER A CERTAIN LOAN AGREEMENT FOR WHICH THE ENTITY WAS CREATED, THE SOLE PURPOSE TO BE CONDUCTED OR PROMOTED BY THE COMPANY IS TO ENGAGE IN THE FOLLOWING ACTIVITIES:I. TO THE EXTENT PERMITTED BY THE LOAN DOCUMENTS, OWN, HOLD, SELL, ASSIGN, TRANSFER, RENOVATE, DEVELOP, OPERATE, LEASE, FINANCE, REFINANCE, PLEDGE, EXCHANGE, AND OTHERWISE DEAL WITH THE PROPERTY LOCATED AT 2 WASHINGTON ST IN NEW YORK CITY;II. TO ENTER INTO AND PERFORM ITS OBLIGATIONS UNDER THE LOAN AGREEMENT;III. TO ENGAGE IN ANY LAWFUL ACT OR ACTIVITY AND TO EXERCISE ANY POWERS PERMITTED TO LIMITED LIABILITY COMPANIES ORGANIZED UNDER THE LAWS OF THE STATE OF DELAWARE THAT ARE RELATED OR INCIDENTAL TO AND NECESSARY, CONVENIENT OR ADVISABLE FOR THE ACCOMPLISHMENT OF THE ABOVE-MENTIONED PURPOSES, PROVIDED, HOWEVER, ALL OF THE SAME IS UNDERTAKEN FOR TAX-EXEMPT EDUCATIONAL PURPOSES ONLY AND IS CONSISTENT WITH THE COMPANY'S NOT-FOR-PROFIT PURPOSES.