2022-05-13T16:59:36-05:00 2021-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2020-07-01 030179403 SAINT MICHAEL'S COLLEGE SAIN 8026542915 ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 ROBERT ROBINSON TREASURER/VP OF FINANCE 8026542915 2022-05-10 1 ROBERT ROBINSON 999009999 STEPHANIE LONCZAK P01880207 6179881000 2022-05-05 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROBERT ROBINSON ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 117143476 0 0928 X WWW.SMCVT.EDU X 1913 VT TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. 27 26 1300 1006 385593 0 5119606 16348022 95624168 91249476 5456356 2727118 803673 1100876 107003803 111425492 39691161 42522997 0 0 35720657 31746251 0 0 1827868 32390122 29976147 107801940 104245395 -798137 7180097 191827572 214854575 68856620 61729164 122970952 153125411 X IT IS THE MISSION OF SAINT MICHAEL'S COLLEGE TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND TO THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. 0 0 63603871 42522997 73893874 ACADEMIC PROGRAM AND FINANCIAL AID, SEE SCHEDULE O 14159966 0 17355602 AUXILIARY ENTERPRISES, SEE SCHEDULE O 13369140 0 0 STUDENT SERVICES, SEE SCHEDULE O 91132977 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 2445 0 1 1300 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 VT X X MELISSA TOURVILLE 8026542915 ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 DR LORRAINE STERRITT PHD PRESIDENT/TRUSTEE 40.00 0.00 X X 381632 0 63988 REV RAYMOND J DOHERTY SSE TRUSTEE 35.00 1.00 X 0 0 0 MR CRAIG DUFFY TRUSTEE 1.00 0.00 X 0 0 0 MR TIMOTHY E FORD TRUSTEE 1.00 0.00 X 0 0 0 REV PATRICK J FORMAN TRUSTEE 2.00 0.00 X 0 0 0 MR WILLIAM H GALLAGHER TRUSTEE 4.00 0.00 X 0 0 0 MR JOSEPH P GARRITY TRUSTEE 2.00 0.00 X 0 0 0 BRO FRANCIS HAGERTY SSE TRUSTEE 4.00 0.00 X 0 0 0 MR GEORGE C KEADY III TRUSTEE 2.00 0.00 X 0 0 0 MR BRIAN G LACEY TRUSTEE 3.00 0.00 X 0 0 0 MR ANTHONY J MAGINNIS TRUSTEE 2.00 0.00 X 0 0 0 DR CELINE R PAQUETTE EDD TRUSTEE 1.00 0.00 X 0 0 0 REV MARCEL R RAINVILLE SSE TRUSTEE 20.00 0.00 X 0 0 0 SR MARIANNE READ RSM TRUSTEE 1.00 0.00 X 0 0 0 MR STEVEN J RENEHAN TRUSTEE 2.00 0.00 X 0 0 0 DR TRACY A ROMANO PHD TRUSTEE 2.00 0.00 X 0 0 0 REV DAVID G CRAY SSE TRUSTEE 2.00 0.00 X 0 0 0 SR LINDORA CABRAL RSM TRUSTEE 1.00 0.00 X 0 0 0 MR PATRICK N BROWN PHD TRUSTEE 1.00 0.00 X 0 0 0 REV MSGR BERNARD W BOURGEOIS TRUSTEE 2.00 0.00 X 0 0 0 MR MICHAEL L SEAVER TRUSTEE 2.00 0.00 X 0 0 0 MS PATRICIA A CASEY CHAIR OF THE BOARD 7.00 0.00 X 0 0 0 MR MARK S DALTON VICE CHAIR OF THE BOARD 5.00 0.00 X 0 0 0 MS MAUREEN K USIFER VICE CHAIR OF THE BOARD 10.00 0.00 X 0 0 0 REV RICHARD BERUBE SSE TRUSTEE 2.00 0.00 X 0 0 0 DR JOSE C BLANCO TRUSTEE 1.00 0.00 X 0 0 0 DR ROBERT F TOBIN MD TRUSTEE 1.00 0.00 X 0 0 0 ROBERT ROBINSON TREASURER/VP FOR FINANCE 40.00 0.00 X 150635 0 37071 DAWN M ELLINWOOD VP FOR STUDENT AFFAIRS 40.00 1.00 X 167987 0 38850 KRISTEN MCANDREW VP ENROLLMENT/MARKETING 40.00 0.00 X 180668 0 13729 JEFFERY TRUMBOWER VP ACADEMIC AFFAIRS 40.00 0.00 X 167916 0 27371 KAREN TALENTINO PROFESSOR BIOLOGY 40.00 0.00 X 117898 0 29097 MICHAEL LARSEN PROFESSOR MATHEMATICS 40.00 0.00 X 114844 0 34863 RONALD MILLER PROFESSOR PSYCHOLOGY 40.00 0.00 X 113102 0 25989 JEFFREY AYERS PROFESSOR POLITICAL SCIENCE 40.00 0.00 X 103618 0 26412 WILLIAM O ANDERSON PROFESSOR BUSINESS ADMIN/ACCT 40.00 0.00 X 117401 0 30173 JOHN J NEUHAUSER FORMER PRESIDENT/TRUSTEE 0.00 0.00 X 498944 0 6628 KRYSTYNA DAVENPORT BROWN VP INSTITUTIONAL ADVANCEMENT 40.00 0.00 X 137129 0 37746 2251774 0 371917 14 1 1 0 HOTCHALK INC 2 THIRD ST STE 250 TROY NY 12180 EDUCATION CONSULTING 780568 COMPETITIVE COMPUTING 354 MOUNTAIN VIEW DRIVE SUITE 400 COLCHESTER VT 05446 IT CONSULTANTS 308324 KPMG LLP 356 MOUNTAIN VIEW DRIVE COLCHESTER VT 05446 AUDIT/TAX 282093 EAB GLOBAL PO BOX 603519 CHARLOTTE NC 28260 RECRUITING 240928 SHI INTERNATIONAL 290 DAVIDSON AVE SOMERSET NJ 08873 IT CONSULTANTS 196814 18 6195318 10152704 605311 16348022 TUITION AND FEES 611710 73893874 73893874 RESIDENCE AND DINING 721310 16464388 16464388 BOOK STORE 451211 646452 646452 OTHER AUXILIARY 900099 224095 224095 CHAPEL 900099 30686 30686 -10019 -11432 1413 91249476 1504149 348096 1156053 141302 0 141302 141302 141302 6549341 391612 5717984 0 831357 391612 1222969 37497 1185472 OTHER OPERATING INCOME 900099 959574 959574 959574 111425492 90601611 385593 4090266 75896 75896 42375482 42375482 71619 71619 1415503 603258 367678 444567 22723121 19031644 2918812 772665 534365 453486 68834 12045 5372194 4505092 703412 163690 1701068 1390213 229504 81351 147042 147042 219426 219426 1527 1527 346019 346019 1555200 1330782 220281 4137 5081743 2101371 2886070 94302 1931730 984461 871811 75458 3909499 3582232 327267 261411 214887 42502 4022 2021269 2013839 7430 7619105 6950478 668627 664432 604827 59605 CATERING/LECTURER/OTHER 6217744 4843410 1198703 175631 104245395 91132977 11284550 1827868 11982873 16293513 0 0 1092181 2862471 1936093 1668614 0 0 0 0 4809100 3171509 380393 353207 1404827 2089468 218958188 136583107 88910901 82375081 42522781 59709304 38545393 46074937 0 0 0 0 243030 256471 191827572 214854575 4870436 3419956 0 0 2942290 2724521 50735449 48162759 0 0 0 0 0 0 93000 62000 10215445 7359928 68856620 61729164 X 71161626 83234461 51809326 69890950 122970952 153125411 191827572 214854575 X 7180097 23668133 -693771 X 0 1 X 1 1 1 X 6044910 5486108 5736997 5119606 16348022 38735643 0 0 0 0 0 0 0 0 0 0 6044910 5486108 5736997 5119606 16348022 38735643 2631548 36104095 1552987 2844853 3331140 2282175 1297355 11308510 0 0 0 0 341131 341131 767462 681565 1051984 569160 959574 4029745 54415029 497940532 0.66350 0.63030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER OPERATING INCOME - 2016 AMOUNT: $ 767,462. 2017 AMOUNT: $ 681,565. 2018 AMOUNT: $ 1,051,984. 2019 AMOUNT: $ 569,160. 2020 AMOUNT: $ 959,574. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 1527 0 0 0 1527 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBER IN VARIOUS FORMS SERVING THE INTERESTS OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $18,328. APPROXIMATELY $1,527 OF THIS AMOUNT WAS ALLOCATED TO LOBBYING. 77654938 3340987 25767599 2999947 378138 353499 103031940 89060683 712607 -4968011 2986829 3938672 224840 77654938 89921136 1704960 2319380 2856453 1708745 319595 89060683 87442239 1463738 4846363 2840483 741718 249003 89921136 83022054 1101262 7047182 2314061 1148412 265786 87442239 0.36600 0.37600 0.25800 0 0 1943703 1943703 178583866 112395904 66187962 35113363 22099411 13013952 3317256 2087792 1229464 82375081 CASH EQUIVALENTS 3786010 F INTERNATIONAL EQUITIES 5334991 F DIRECTIONAL HEDGE COMPOSITE 1895371 F RELATIVE VALUE STRATEGIES 4685853 F PRIVATE EQUITY 2774230 F GLOBAL FIXED INCOME COMPOSITE 8477232 F REAL ASSET COMPOSITE 16354846 F DEPOSITS WITH BOND TRUSTEES 2766404 F 46074937 OTHER LIABILITIES 3048080 AMOUNTS HELD ON BEHALF OF OTHERS 1499935 REFUNDABLE ADVANCES 2625414 ANNUITY OBLIGATION 70887 CAPITAL LEASE OBLIGATION 115612 7359928 X 92300505 23668133 23668133 68632372 346019 42447101 42793120 111425492 62146044 693769 693769 61452275 346019 42447101 42793120 104245395 PART V, LINE 4: SAINT MICHAEL'S COLLEGE ENDOWMENT AND QUASI-ENDOWMENT CONSIST OF APPROXIMATELY 231 INDIVIDUAL ENDOWMENT ACCOUNTS ESTABLISHED FOR A VARIETY OF PURPOSES IN ACCORDANCE WITH APPLICABLE LAW AND DONOR INTENT AND FUNDS DESIGNATED BY THE COLLEGE'S BOARD TO OPERATE AS ENDOWMENT (QUASI-ENDOWMENT). A MAJORITY OF THE FUNDS PROVIDE SCHOLARSHIPS AND FINANCIAL AID ASSISTANCE TO UNDERGRADUATE STUDENTS. OTHER USES OF THE FUNDS INCLUDE, BUT ARE NOT LIMITED TO, PROVIDING STUDY ABROAD AND RESEARCH OPPORTUNITIES, CREATION AND FUNDING OF FACULTY CHAIRS, SUPPORT FOR STUDENT SERVICES AND ACTIVITIES, LIBRARY ACQUISITIONS AND FUNDING FOR LECTURE SERIES. THE PRIMARY OBJECTIVE OF THE PORTFOLIO IS TO ACHIEVE AN ANNUALIZED TOTAL RETURN, NET OF FEES, THROUGH APPRECIATION AND INCOME, EQUAL TO OR GREATER THAN THE RATE OF INFLATION PLUS ANY SPENDING AND ADMINISTRATIVE EXPENSES THUS, AT A MINIMUM MAINTAINING THE PURCHASING POWER OF THE PORTFOLIO. THE INVESTMENTS ARE MANAGED UNDER THE UNIFORM PRUDENT INVESTOR ACT STANDARD REQUIRING THE EXERCISE OF REASONABLE CARE, SKILL, AND CAUTION WHILE BEING APPLIED TO INVESTMENTS NOT IN ISOLATION, BUT IN THE CONTEXT OF THE PORTFOLIO AS A WHOLE AND AS A PART OF AN OVERALL STRATEGY HAVING RISK AND RETURN OBJECTIVES REASONABLY SUITED TO THE PORTFOLIO. SINCE SHORT TERM MARKET FLUCTUATION MAY CAUSE VARIATIONS IN INVESTMENT PERFORMANCE, IT IS INTENDED THAT THE OBJECTIVES WILL BE ACHIEVED OVER A FULL MARKET CYCLE. PART X, LINE 2: UNCERTAIN TAX POSITIONS THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAX PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 42,447,101. PART XII, LINE 2D - OTHER ADJUSTMENTS: NONOPERATING EXPENSE 693,769. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 42,447,101. PART V, LINE 2: ENDOWMENT FUNDS THE COLLEGE HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2021 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, THE COLLEGE HAS REPORTED ITS YEAR-END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR-END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT, RESPECTIVELY. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE INCLUDES ITS RACIALLY NONDISCRIMINATORY POLICY IN ITS BYLAWS, EMPLOYEE HANDBOOK, GRADUATE AND UNDERGRADUATE CATALOGS, STUDENT CODE OF CONDUCT AND COLLEGE POLICY HANDBOOK, FACULTY REGULATIONS, ON OUR APPLICATION SUPPLEMENT, THE HOMEPAGE OF THE COLLEGE'S WEBSITE, AND WITHIN THE NEASC SELF STUDY DOCUMENT FOR REACCREDITATION. THE COLLEGE ALSO VALUES DIVERSITY AND HAS A BOARD OF TRUSTEES APPROVED POLICY WHICH IS ALSO CONTAINED WITHIN MANY OF THESE DOCUMENTS. SCHEDULE E, PART I, LINE 6 SAINT MICHAEL'S COLLEGE RECEIVES GRANTS AND STUDENT AID FROM VARIOUS GOVERNMENTAL AGENCIES FOR SUPPORT OF EDUCATIONAL AND STUDENT PROGRAMS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5989671 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 56936 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 28745 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 18572 EAST ASIA AND THE PACIFIC 0 0 AGENT 7000 0 0 0 0 0 0 6100924 0 6100924 0 0 STUDENT SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 3 34149 WIRE NA NA STUDENT SCHOLARSHIP SOUTH ASIA 1 26220 WIRE NA NA STUDENT SCHOLARSHIP SUB-SAHARAN AFRICA 1 11250 WIRE NA NA 1 0 1 1 1 1 PART I, LINE 3: ACTIVITIES OUTSIDE THE UNITED STATES STUDY PROGRAMS SAINT MICHAEL'S COLLEGE INTERNATIONAL SHORT-TERM STUDY PROGRAMS ARE AN IMPORTANT AND CREATIVE WAY FOR FACULTY AND STUDENTS TO EXPAND THE BOUNDARIES OF THE SAINT MICHAEL'S CAMPUS. SHORT-TERM STUDY PROGRAMS ARE ACADEMIC COURSES DEVELOPED BY FACULTY. TYPICALLY LASTING TWO WEEKS, THESE PROGRAMS INVOLVE STUDY ABROAD, MAY INCLUDE DIRECT INVOLVEMENT IN ISSUES COVERED IN AN ON-CAMPUS COURSE AND PROVIDE DIRECT EXPERIENCE ON A PARTICULAR TOPIC IN A PARTICULAR LOCALE. DUE TO THE GLOBAL PANDEMIC, MOST OF OUR STUDY PROGRAMS WERE CANCELLED IN FY21. STUDY ABROAD SAINT MICHAEL'S COLLEGE UTILIZES OVER 20 THIRD-PARTY PROGRAM PROVIDERS AND EXCHANGE PARTNERS TO PROVIDE STUDENTS WITH OPPORTUNITIES TO STUDY IN OVER 70 COUNTRIES. THERE ARE MANY DIVERSE PROGRAMS OFFERINGS FOR A STUDENT'S STUDY ABROAD EXPERIENCE. IN OUR INCREASINGLY GLOBAL SOCIETY, MORE AND MORE STUDENTS RECOGNIZE THE VALUE OF SPENDING A SEMESTER OR A YEAR ABROAD. AGENTS THE COLLEGE'S APPLIED LINGUISTICS DEPARTMENT OFFERS A VARIETY OF ENGLISH LANGUAGE PROGRAMS FOR STUDENTS TO EARN A CERTIFICATE OF COMPLETION AND/OR MASTER'S DEGREE IN TEACHING ENGLISH TO SPEAKERS OF OTHER LANGUAGES. UPON SUCCESSFUL COMPLETION OF THE ADVANCED ENGLISH PROGRAM LEVEL II, A STUDENT MAY MATRICULATE INTO AN UNDERGRADUATE DEGREE PROGRAM AT THE COLLEGE OR ELSEWHERE. THE COLLEGE USES INTERNATIONAL AGENTS TO ASSIST WITH RECRUITING AND ADMISSIONS FOR THESE PROGRAMS. RECRUITING THE COLLEGE HAS ONE FULL-TIME STAFF MEMBER WHO TRAVELS TO RECRUIT INTERNATIONAL STUDENTS AND GROUPS FOR OUR ENGLISH LANGUAGE PROGRAMS AND UNDERGRADUATE ADMISSIONS. THESE EXPENSES ARE PRIMARILY RELATED TO TRAVEL IN EAST ASIA AND EUROPE. DUE TO THE GLOBAL PANDEMIC OUR RECRUITING HAS BEEN CANCELED IN FY21. SERVICE TRIP THIS REPRESENTS THE IN COUNTRY EXPENSES PAID FOR FLIGHTS, MEALS, SUPPLIES, AND LODGING. DUE TO THE GLOBAL PANDEMIC OUR SERVICE TRIPS WERE CANCELED IN FY21. PART III ACCOUNTING METHOD: PART II: GRANTS TO ENTITIES OUTSIDE THE UNITED STATES OUR MOBILIZATION OF VOLUNTEER EFFORTS DEPARTMENT, KNOWN AS MOVE, PROMOTES ONE PRINCIPLE OF THE CATHOLIC FAITH - CHARITY. MOVE PROVIDES OPPORTUNITIES FOR THE COLLEGE'S STUDENTS TO PERFORM COMMUNITY SERVICE WORK DURING THE ACADEMIC YEAR AND DURING SEMESTER AND SUMMER BREAKS AT BOTH DOMESTIC AND INTERNATIONAL SERVICES SITES. SEE SCHEDULE O UNDER PART III STUDENT SERVICES FOR MORE DETAILS. THE PAYMENT REPRESENTS FUNDS RAISED BY STUDENTS TO HELP SUPPORT A NON-PROFIT ORGANIZATION IN THE DOMINICAN REPUBLIC WHERE THEY VOLUNTEER. MOVE IS IN COMMUNICATION WITH THE RECIPIENT ORGANIZATION THROUGHOUT THE YEAR AND HAS GENERAL CONVERSATIONS ABOUT THE ORGANIZATION'S STATUS AND PROJECTS AND MAKES ARRANGEMENTS FOR THE FOLLOWING TRIP. MOVE WORKS WITH ORGANIZATIONS SO STUDENT VOLUNTEERS HAVE A CLEAR VISION ABOUT WHAT IS EXPECTED AND WHAT THEY SHOULD EXPECT WHEN THEY ARRIVE IN THE COUNTRY. DUE TO THE GLOBAL PANDEMIC, OUR SERVICE TRIPS WERE CANCELED IN FY21 AND NO DONATIONS WERE ISSUED. PART III: SCHOLARSHIPS SCHOLARSHIPS RELATE TO STUDENTS STUDYING ABROAD FOR A SEMESTER OR A YEAR. ALL SCHOLARSHIPS ARE APPLIED TO THE STUDENT'S ACCOUNT BALANCE. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO STUDENTS ACCEPTED INTO THE STUDY ABROAD PROGRAM. 1 SSE DBA SAINT ANNE'S SHRINE PO BOX 280 ISLE LA MOTTE VT 05463 030195115 501(C)(3) 65896 SEE PART IV STEPS TO END DOMESTIC VIOLENCE INC PO BOX 1535 BURLINGTON VT 05402 030283657 501(C)(3) 10000 SEE PART IV 2 0 STUDENT SCHOLARSHIPS 1479 36478342 UNDERGRADUATE ENDOWMENT FUNDED AID 243 2999947 UNDERGRADUATE ATHLETIC GRANTS 62 2446420 SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS 263 427292 GRADUATE STUDENT GRANTS 10 23481 PART II, LINE 1(H): THE CONTRIBUTION TO SAINT ANNE'S SHRINE WAS MADE TO PROVIDE SUPPORT OF THEIR MISSION TO SERVE AS A WELCOMING PLACE OF PEACE AND HOPE MINISTERING TO ALL GOD'S PEOPLE THROUGH PRAYER, DEVOTION, HOSPITALITY AND SPIRITUAL RENEWAL. THE SHRINE WAS DEVELOPED AND MAINTAINED FOR THE PAST 100+ YEARS BY THE SOCIETY OF SAINT EDMUND, THE CATHOLIC RELIGIOUS COMMUNITY WHICH IS ALSO THE FOUNDER OF SAINT MICHAEL'S COLLEGE. THE COLLEGE SHARES A SIMILAR MISSION TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. ADDITIONAL LAND WAS ACQUIRED BY THE SOCIETY AND LODGING WAS CONSTRUCTED TO PROVIDE OVERNIGHT FACILITIES TO CONDUCT PROGRAMMING NEEDS OF THE COLLEGE FOR THE DEPARTMENTS OF CAMPUS MINISTRY, STUDENT LIFE, ADMISSIONS, ALUMNI RELATIONS, ATHLETICS AND ACADEMIC AFFAIRS. THE COLLEGE BENEFITS FROM USE OF THE FACILITIES AT THE SHRINE FOR CURRICULUM ENHANCEMENT, STUDENT AND STAFF RETREATS AND WORSHIP. EMPLOYEES FROM CAMPUS MINISTRY AND OTHER COLLEGE EMPLOYEES WORK TO DEVELOP, MONITOR AND IMPLEMENT PROGRAMMING GOALS ENSURING THAT DONATIONS ARE USED FOR THEIR INTENDED PURPOSE. PART II, LINE 2(H): THE CONTRIBUTION TO STEPS TO END DOMESTIC VIOLENCE, INC. WAS MADE TO SUPPORT THEIR MISSION TO HELP THE TRANSITION TO A SAFE AND INDEPENDENT LIFE FOR THOSE WHO HAVE BEEN AFFECTED PHYSICALLY, SEXUALLY, EMOTIONALLY, OR ECONOMICALLY BY DOMESTIC ABUSE, PROMOTING A CULTURE THAT FOSTERS JUSTICE, EQUITY, AND SAFETY. THIS ORGANIZATION WAS CHOSEN TO RECEIVE THIS DONATION BY THE COLLEGE'S STUDENT ASSOCIATION WHICH INVITES LOCAL NON-PROFIT ORGANIZATIONS TO APPLY FOR A $10,000 DONATION THROUGH AN APPLICATIONS PROCESS. THREE ORGANIZATIONS ARE THEN CHOSEN TO EACH MAKE A PRESENTATION TO THE STUDENT BODY DESCRIBING THEIR ORGANIZATION AND ITS MISSION. THE COLLEGE'S STUDENTS THEN VOTE FOR THE ORGANIZATION THEY WANT TO RECEIVE THE DONATION. THE ORGANIZATIONS ARE REQUIRED TO COME BACK TO THE STUDENT ASSOCIATION IN TWO YEARS TO PRESENT THE IMPACT OF THE AWARD. PART III: GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS IN THE U.S. THE COLLEGE RECOGNIZES THE HIGH COST OF A PRIVATE EDUCATION AND ATTEMPTS TO ADDRESS AS MUCH AS WE PRACTICALLY CAN TO CLOSE THE GAP BETWEEN THE COST OF ATTENDANCE AND FAMILY RESOURCES USING A VARIETY OF SOURCES, INCLUDING FEDERAL, STATE AND INSTITUTIONAL (COLLEGE) FUNDING. THE THREE TYPES OF FINANCIAL ASSISTANCE WE EMPLOY INCLUDES GRANTS AND SCHOLARSHIPS, LOANS, AND STUDENT EMPLOYMENT. IN 2020-2021, THE COLLEGE ADMINISTERED OVER $56 MILLION IN ASSISTANCE, OF WHICH APPROXIMATELY $39 MILLION WAS PRIMARILY COLLEGE FUNDED AID, SCHOLARSHIPS OR GRANTS. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO ALL STUDENTS ACCEPTED FOR ADMISSION. THE AMOUNT OF AID A STUDENT RECEIVES UPON INITIAL ENROLLMENT GENERALLY IS AWARDED FOR EACH YEAR HE/SHE ATTENDS SAINT MICHAEL'S COLLEGE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JOHN J NEUHAUSER FORMER PRESIDENT/TRUSTEE 27664 0 0 0 471280 0 6499 0 129 0 505572 0 207122 0 DR LORRAINE STERRITT PHD PRESIDENT/TRUSTEE 375894 0 0 0 5738 0 11239 0 52749 0 445620 0 0 0 DAWN M ELLINWOOD VP FOR STUDENT AFFAIRS 167987 0 0 0 0 0 5206 0 33644 0 206837 0 0 0 JEFFERY TRUMBOWER VP ACADEMIC AFFAIRS 167916 0 0 0 0 0 5091 0 22280 0 195287 0 0 0 KRISTEN MCANDREW VP ENROLLMENT/MARKETING 180668 0 0 0 0 0 1206 0 12523 0 194397 0 0 0 ROBERT ROBINSON TREASURER/VP FOR FINANCE 150635 0 0 0 0 0 4741 0 32330 0 187706 0 0 0 KRYSTYNA DAVENPORT BROWN VP INSTITUTIONAL ADVANCEMENT 137129 0 0 0 0 0 4310 0 33436 0 174875 0 0 0 PART II: COMPENSATION INFORMATION FOR ELIGIBLE EMPLOYEES, COLUMN (D) NONTAXABLE BENEFITS PRIMARILY CONSISTS OF HEALTH CARE AND DENTAL BENEFITS. DETAILS FOR AMOUNTS REPORTED IN COLUMNS B (III) AND COLUMN (D) ARE LISTED BELOW: DR. LORRAINE STERRITT - COLUMN B (III) INCLUDES PERSONAL USE OF A COLLEGE VEHICLE. COLUMN (D) INCLUDES A HOUSING ALLOWANCE OF $35,857. DR. JOHN J. NEUHAUSER - COLUMN B (III) INCLUDES PERSONAL USE OF A COLLEGE VEHICLE AND TUITION REMISSION. ADDITIONALLY, THIS COLUMN INCLUDES A 457B PLAN PAYOUT OF $425,159. A VT EDU & HEALTH BLDG FINANCE AGY SERIES 2012 237154467 924166FM8 2012-05-24 50990332 CONSTRUCTION, EQUIPMENT, REFUNDING 0 0 0 B VT EDU & HEALTH BLDG FINANCE AGY SERIES 2015 237154467 924166HA2 2015-11-10 19878406 CONSTRUCTION, EQUIPMENT 0 0 0 A 17390000 50990332 563023 27500000 22927309 2013 1 1 1 1 B 1955000 19878706 319325 377716 19181665 2016 0 0 1 1 A 0 0 1 1 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 1 B 0 0 0 1 0 0 0 1 A 1 B 1 PART II, LINES 16-17 AND PART IV, LINE 5: FINAL ALLOCATIONS OF PROCEEDS AND INVESTMENT BEYOND A TEMPORARY PERIOD THE BOND ISSUED IN 2012 WAS USED TO CONSTRUCT A RESIDENCE HALL AND STUDENT UNION. THE PROJECT WAS COMPLETED IN DECEMBER 2013. THE 2015 SERIES BONDS WERE USED TO CONSTRUCT AND FURNISH A NEW RESIDENCE HALL. THE PROJECT WAS COMPLETED IN AUGUST 2016. THE COLLEGE MAINTAINS BOOKS AND RECORDS TO SUPPORT ALLOCATION AND TO REQUEST REIMBURSEMENT OF EXPENSES FROM THE BOND TRUSTEE. THE BOND TRUSTEE REVIEWED ALL REQUESTS TO ENSURE THE EXPENSE WAS APPROPRIATE WITHIN THE PURPOSE AS DEFINED IN THE BOND DOCUMENTS. THE COLLEGE'S 2012 SERIES BOND WAS NOT INVESTED BEYOND THE AVAILABLE TEMPORARY PERIOD AS THE BOND CLOSED IN MAY 2012 AND ALL CONSTRUCTION FUNDS WERE EXPENSED BY NOVEMBER 2013. THE COLLEGE'S 2015 SERIES BOND WAS NOT INVESTED BEYOND THE AVAILABLE TEMPORARY PERIOD AS THE BOND CLOSED IN NOVEMBER 2015 AND ALL FUNDS WERE EXPENSED BY APRIL 2018. PART III, LINE 9 AND PART IV, LINE 7: ADOPTION OF MANAGEMENT PRACTICES THE COLLEGE HAS WORKED WITH CONSULTANTS AND BOND COUNCIL TO MAKE CERTAIN COLLEGE PERSONNEL IS FAMILIAR WITH THE RULES AND REGULATIONS FOR POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES. ALL USE OF THE BUILDING IS TRACKED BY THE COLLEGE'S CONFERENCE AND SPECIAL EVENTS DEPARTMENT. THE COLLEGE'S TAX-EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICY HAVE BEEN CREATED, REVIEWED, AND IMPLEMENTED BY MANAGEMENT AND APPROVED BY THE BOARD OF TRUSTEES. PART IV, LINE 2C: ARBITRAGE CALCULATIONS THE INITIAL REBATE CALCULATION FOR THE 2012 SERIES BONDS INCLUDED THE PERIOD MAY 24, 2012 TO MAY 24, 2015, CONSIDERED THE TEMPORARY PERIOD, AND REFLECTED NO REBATE WAS DUE. THE FIRST FIVE YEAR REBATE CALCULATION FOR THE PERIOD MAY 24, 2012 TO MAY 24, 2017, ALSO REFLECTED NO REBATE WAS DUE. THE INITIAL REBATE CALCULATION FOR THE 2015 SERIES BONDS FOR THE TEMPORARY PERIOD, NOVEMBER 10, 2015 TO NOVEMBER 10, 2018, WAS COMPLETED DECEMBER 6, 2018, AND NO REBATE WAS DUE. PART V: PROCEDURES TO UNDERTAKE CORRECTIVE ACTION THE COLLEGE'S TAX-EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICIES AND PROCEDURES IDENTIFY AND ADDRESS ANY VIOLATIONS OF FEDERAL TAX REQUIREMENTS PURSUANT TO A VOLUNTARY CLOSING AGREEMENT PROGRAM WHERE SELF-REMEDIATION MAY BE UNAVAILABLE. X 54000 FMV X 20 551311 FMV 1 0 1 1 PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RELATED TO EACH TYPE OF PROPERTY THAT WAS RECEIVED DURING FY21. PART I, LINE 32B: THE COLLEGE USES A CUSTODIAN TO HOLD AND PROCESS ALL INVESTMENT TRANSACTIONS INCLUDING ASSET SAFEKEEPING AND COLLECTION OF DIVIDENDS AND INTEREST. ALL SECURITY CONTRIBUTIONS ARE DELIVERED TO THE CUSTODIAN WITH THE INSTRUCTION FOR IMMEDIATE SALE. FORM 990, PART I, LINE 1 AND PART III, LINE 1: SAINT MICHAEL'S COLLEGE IS CATHOLIC LIBERAL ARTS RESIDENTIAL COLLEGE COMMITTED TO THE PURSUIT OF ACADEMIC EXCELLENCE, WITH AN UNDERGRADUATE ENROLLMENT OF APPROXIMATELY 1,450 STUDENTS AND 300 GRADUATE AND INTERNATIONAL STUDENTS. WE CREATE AND SUSTAIN AN OPTIMAL LIVING AND LEARNING ENVIRONMENT THAT PROMOTES A VIBRANT INTELLECTUAL LIFE AND CHALLENGES STUDENTS TO ENGAGE IN ACTIVITIES TO EXTEND THEIR MINDS AND EXPERIENCE WITHIN AND BEYOND OUR VERMONT LOCATION. FORM 990, PART III, LINES 4A, ACADEMIC PROGRAMS AND FINANCIAL SUPPORT: THE ACADEMIC PROGRAM IS AT THE HEART OF THE COLLEGE'S MISSION AND THE REASON FOR SAINT MICHAEL'S COLLEGE EXISTENCE. THE COLLEGE PROVIDES EDUCATION WITH A SOCIAL CONSCIENCE, PRODUCING GRADUATES WITH INTELLECTUAL TOOLS TO LEAD SUCCESSFUL, PURPOSEFUL LIVES THAT WILL CONTRIBUTE TO PEACE AND JUSTICE IN OUR WORLD. SAINT MICHAEL'S COLLEGE STUDENTS PERSONALIZE THEIR EDUCATION THROUGH RESEARCH, INTERNSHIPS, AND SMALL CLASSES, PREPARING THEM FOR A LIFETIME, NOT JUST FOR THEIR FIRST JOB OUT OF COLLEGE. THE ACADEMIC PROGRAM IS RIGOROUS AND CALIBRATED TO THE APPROPRIATE DEVELOPMENTAL LEVELS OF STUDENTS (FIRST-YEAR STUDENTS THROUGH GRADUATE LEVEL). THE UNDERGRADUATE ACADEMIC PROGRAM OFFERS DEGREES IN 25 DIFFERENT MAJORS FOR THE BACHELOR OF ARTS DEGREE AND 16 MAJORS FOR THE BACHELOR OF SCIENCE DEGREE. STUDENTS MAY ALSO CHOOSE FROM 39 MINOR PROGRAMS. THE ACADEMIC PROGRAM FOR GRADUATE STUDENTS INCLUDES 3 PROGRAMS LEADING TO MASTER'S DEGREES IN CLINICAL PSYCHOLOGY, EDUCATION AND TEACHING ENGLISH TO SPEAKERS OF OTHER LANGUAGES. SAINT MICHAEL'S COLLEGE AWARDED 392 BACHELOR'S DEGREES, 84 MASTER'S DEGREES, AND 8 POST-MASTER'S CERTIFICATES DURING THE 2020-2021 ACADEMIC YEAR FOR A TOTAL OF 484 DEGREES AND CERTIFICATES; 71 OF THE BACCALAUREATE STUDENTS GRADUATED WITH DOUBLE MAJORS FOR A TOTAL OF 321 INDIVIDUAL STUDENTS COMPLETING UNDERGRADUATE DEGREES. OUR FINAL 12-MONTH ENROLLMENT FOR 2019-20 TOTALED 1640 FTE STUDENTS ENROLLED IN BACCALAUREATE DEGREE PROGRAMS AND 155 FTE IN MASTER'S DEGREE PROGRAMS. OUR "FIRST DESTINATIONS" SURVEY FOR THE BACCALAUREATE CLASS OF 2020 (81% KNOWLEDGE RATE) REVEALED THAT 73% OF RESPONDENTS WERE EMPLOYED, VOLUNTEERING OR ATTENDING GRADUATE SCHOOL FULL-TIME, WITH ANOTHER 16% ENGAGED IN SIMILAR ROLES ON A PART-TIME BASIS. DUE TO THE MULTIPLE IMPACTS OF COVID-19 ON THE ECONOMY, 22% OF OUR GRADUATES WERE STILL SEEKING EMPLOYMENT SIX MONTHS AFTER GRADUATION A TEMPORARY DECLINE FROM 87% IN THE PREVIOUS YEAR. OUR 4 YEAR AVERAGE STUDENT-RIGHT-TO-KNOW GRADUATION RATE IS 78% (2012-2015 COHORTS) BASED ON OUR MOST RECENT FEDERAL DATA SUBMISSIONS (WINTER 2021-2022). FOR COMPARISON, THE MOST CURRENT NATIONAL CENTER FOR EDUCATION STATISTICS DATA, FOR THE COHORT ENTERING IN FALL 2013, INDICATES AN AVERAGE 63% GRADUATION RATE (150% OF NORMAL TIME) FOR ALL INSTITUTIONS, AND A 68% GRADUATION RATE FOR PRIVATE NON-PROFIT COLLEGES. THE EQUIVALENT 150% (6-YEAR) GRADUATION RATE FOR THE SAME PERIOD AT SAINT MICHAEL'S COLLEGE WAS 83%. DUE TO THE ONSET OF THE COVID-19 PANDEMIC IN MARCH 2020, THE GOALS AND OBJECTIVES FOR THE COLLEGE'S STUDY ABROAD OFFICE WERE SEVERELY ALTERED. THE STUDY ABROAD OFFICE CONTINUED ITS RELATIONSHIPS WITH CORE PARTNER ORGANIZATIONS, BUT STUDENT PARTICIPATION WAS MINIMAL AS GLOBAL UNCERTAINTIES BROUGHT ON BY THE PANDEMIC CONTINUED THROUGHOUT THE ACADEMIC YEAR. THE COLLEGE HAS MADE STRIDES IN EDUCATING STUDENTS BEYOND THE CLASSROOM IN PREPARATION FOR THEIR CAREERS AFTER GRADUATION. THE COLLEGE HAS DEVELOPED A LIFE AFTER COLLEGE PROGRAM AS PART OF OUR CURRENT STRATEGIC PLAN, WHICH INCLUDES DEVELOPMENT OF A COHESIVE STUDENT EMPLOYMENT PROGRAM AND A MORE EXTENSIVE FOCUS ON INTERNSHIPS. OUR RECENT SAINT MICHAEL'S COLLEGE ALUMNI STUDY (PUBLISHED BY GALLUP 2016) EMPHASIZES THE IMPORTANCE OF EXPERIENTIAL LEARNING AS A KEY DRIVER OF STUDENTS' LIFETIME WELL-BEING AND ENGAGEMENT. DURING 2016-2018, AN AVERAGE OF 46 STUDENTS WERE ENGAGED IN INDEPENDENT RESEARCH WITH PROFESSORS APPLYING CLASSROOM LEARNING TO REAL-WORLD CASE STUDIES. THE COLLEGE HAS A ROBUST HONORS PROGRAM WHICH BEGAN IN THE LATE 1980'S AND RECOGNIZES HIGH ACHIEVEMENT AMONG OUR STUDENTS. IN 2021, 57 STUDENTS (17% OF THE SENIOR CLASS) GRADUATED IN THE HONORS PROGRAM. IN THE FALL OF 2020, 321 STUDENTS FROM ALL FOUR CLASSES, ABOUT 23% OF THE STUDENT BODY, WERE MEMBERS OF THE HONORS PROGRAM. THE COLLEGE IS PART OF THE NATION'S OLDEST AND LARGEST LIBERAL ARTS ACADEMIC HONOR SOCIETY, PHI BETA KAPPA. ONLY ABOUT TEN PERCENT OF INSTITUTIONS OF HIGHER EDUCATION HAVE CHAPTERS. WITH 290 CHAPTERS NATIONWIDE, SAINT MICHAEL'S COLLEGE IS ONE OF THE AT LEAST 25 CATHOLIC COLLEGES IN THE U.S. AND ONE OF FOUR IN NEW ENGLAND WITH SUCH A CHAPTER. THE COLLEGE IS IDENTIFIED IN THE 2020 EDITION OF THE PRINCETON REVIEW'S BEST 387 COLLEGES AS ONE OF THE NATION'S BEST INSTITUTIONS FOR UNDERGRADUATE EDUCATION. THE COLLEGE IS RANKED 126TH IN NATIONAL LIBERAL ARTS COLLEGES BY THE U.S. NEWS AND WORLD REPORT. SAINT MICHAEL'S COLLEGE WAS INCLUDED ON THE LIST OF US COLLEGES AND UNIVERSITIES THAT PRODUCED THE MOST 2018-2019 FULBRIGHT U.S. STUDENTS. PEACE CORPS ANNOUNCED THE COLLEGE RANKED 16TH AMONG SMALL SCHOOLS ON THE AGENCY'S LIST OF TOP 25 VOLUNTEER-PRODUCING COLLEGES AND UNIVERSITIES IN 2020, AND HAS APPEARED ON PEACE CORPS' TOP RANKINGS OF SMALL SCHOOLS THREE OF THE PAST FIVE YEARS. SAINT MICHAEL'S COLLEGE WAS NAMED TO KIPLINGER'S PERSONAL FINANCE LIST OF THE TOP BEST COLLEGE VALUES OF 2018, 2017 AND 2016. THE COLLEGE WAS INCLUDED IN FORBES MAGAZINE'S 2019 AMERICA'S TOP COLLEGES' EDITION HAS RANKED SAINT MICHAEL'S COLLEGE 186TH IN THE BEST PRIVATE COLLEGES' CATEGORY AND 98TH IN LIBERAL ARTS UNIVERSITIES. THE COLLEGE WAS INCLUDED IN THE 2017 EDITION OF THE PRINCETON REVIEW'S GUIDE TO GREEN COLLEGES, RECOGNIZED FOR THEIR COMMITMENT TO SUSTAINABILITY RANKING AS THE 11TH MOST ENVIRONMENTALLY RESPONSIBLE COLLEGE AMONG 375 OF THE "GREENEST" CAMPUSES IN THE U.S. THE COLLEGE WAS FEATURED IN THE 2018 FISKE GUIDE TO COLLEGES, A HIGHLY SELECTIVE GUIDE TO NOTEWORTHY SCHOOLS IN THE U.S., CANADA, AND THE UNITED KINGDOM. COLLEGE CONSENSUS, A UNIQUE NEW COLLEGE REVIEW AGGREGATOR, HAS RECOGNIZED SAINT MICHAEL'S COLLEGE IN ITS SURVEY OF THE "30 MOST BEAUTIFUL COLLEGE CAMPUSES IN THE FALL". SAINT MICHAEL'S COLLEGE RANKED 18TH ON THIS LIST. THE VERMONT STANDARDS BOARD FOR PROFESSIONAL EDUCATORS IS RESPONSIBLE FOR EVALUATING AND APPROVING EDUCATOR PREPARATION PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVEL AND ALTERNATE ROUTES TO LICENSURE. IT APPROVES LICENSURE PROGRAMS THAT HAVE SUCCESSFULLY DEMONSTRATED THE CAPACITY TO PROVIDE PROSPECTIVE EDUCATORS WITH THE KNOWLEDGE, SKILLS, EXPERIENCES, AND DISPOSITIONS NEEDED TO FOSTER ALL STUDENTS' GROWTH. IN 2019 THE BOARD REVIEWED AND VOTED TO ACCEPT SAINT MICHAEL'S TWO-YEAR REPORT AND GRANTED FULL APPROVAL FOR ALL LICENSURE PROGRAM EXCEPT FOR CONSULTING TEACHER WHICH RECEIVED CONDITIONAL APPROVAL. THE VERMONT STANDARDS BOARD FOR PROFESSIONAL EDUCATORS ALSO APPROVED A NEW PROGRAM IN EARLY CHILDHOOD EDUCATION. THE ACADEMIC PROGRAM IS SUPPORTED BY MANY PROFESSIONAL AND ADMINISTRATIVE STAFF INCLUDING INFORMATION TECHNOLOGY (IT), ACADEMIC ENRICHMENT PROGRAMS, LIBRARY AND INFORMATION SERVICES (LIS), REGISTRAR'S OFFICE, THE VICE PRESIDENT OF ACADEMIC AFFAIRS AND THE DEAN. THE IT DEPARTMENT IS COMMITTED TO CREATING A ROBUST TECHNOLOGY ENVIRONMENT FOR THE COLLEGE'S STUDENTS, FACULTY AND STAFF. THEY SUPPORT ADMINISTRATIVE APPLICATIONS, INSTRUCTIONAL TECHNOLOGY SERVICES, ALL OF WHICH SUPPORT THE MISSION AND GOALS OF THE COLLEGE BY PROVIDING ITS CONSTITUENTS WITH A RELIABLE, SECURE, AND FAST CAMPUS NETWORK; SUPPORT FOR THE APPROPRIATE INTEGRATION OF TECHNOLOGY INTO TEACHING AND RESEARCH; AND TECHNOLOGY SUPPORT FOR ADMINISTRATIVE OPERATIONS. SAINT MICHAEL'S COLLEGE IS COMMITTED TO STUDENTS' ACADEMIC SUCCESS THEREFORE, IN ADDITION TO ACADEMIC ENRICHMENT PROGRAMS DESIGNED TO ENHANCE THE LEARNING EXPERIENCE, A VARIETY OF SERVICES ARE OFFERED TO ENSURE THAT OUR STUDENTS GET THE MOST OUT OF THEIR EDUCATION INCLUDING INDEPENDENT STUDIES, PEACE AND JUSTICE CENTER, WOMEN'S CENTER, SERVICE LEARNING, STUDENT/FACULTY RESEARCH AND INTERNSHIPS TO NAME A FEW. THESE SERVICES AND ACTIVITIES ARE DESIGNED TO ASSIST OUR STUDENTS IN ENHANCING THEIR LEARNING OPPORTUNITIES IN ORDER TO ACHIEVE THEIR FULLEST INTELLECTUAL DEVELOPMENT. ACADEMIC ENRICHMENT ALSO SUPPORTS FACULTY IN OFFERING EXTRA-CURRICULAR ACTIVITIES THAT ENHANCE THEIR CLASSROOM TEACHING AND IN DESIGNING INNOVATIVE COMPONENTS TO THEIR COURSES THAT FOSTER EXPERIENTIAL LEARNING. LIS PROVIDES STUDENTS, FACULTY, AND STAFF WITH THE INFORMATION RESOURCES AND SERVICES THEY NEED FOR STUDY, TEACHING AND RESEARCH. THE LIBRARY STRIVES TO DETERMINE COMMUNITY NEEDS AND RESPOND TO THEM BY SHAPING ITS RESOURCES AND SERVICES TO PROVIDE THE BEST POSSIBLE SUPPORT FOR THE ACADEMIC PROGRAM. IN ORDER TO SUPPORT OUR STUDENTS ATTENDING SAINT MICHAEL'S COLLEGE, A VARIETY OF GRANTS AND ASSISTANCE ARE AWARDED. REFER TO SCHEDULE I, PART IV FOR ADDITIONAL INFORMATION. FORM 990, PART III, LINE 4B, AUXILIARY ENTERPRISES: AS A 100% RESIDENTIAL COLLEGE, WE MAKE LIVING ON CAMPUS JUST AS IMPORTANT A LEARNING EXPERIENCE AS THE CURRICULUM IN THE CLASSROOMS. THEREFORE, IN ADDITION TO EXPENSES ASSOCIATED WITH ON-CAMPUS DINING SERVICES, AUXILIARY SERVICES EXPENSES INCLUDE RESIDENCE HALL BOND INTEREST, DEPRECIATION EXPENSE AND COSTS RELATED TO THE BOOKSTORE, PRINTING AND MAILING SERVICES, SPECIAL EVENTS, SUMMER PLAYHOUSE AND OTHER AUXILIARY PROGRAMS THAT SUPPORT OUR STUDENTS' LIVING AND LEARNING EXPERIENCE. AS PART OF THE RESIDENTIAL EXPERIENCE, THERE ARE UNIQUE HOUSING OPTIONS AVAILABLE ON CAMPUS BASED ON COMMON INTERESTS THAT STUDENTS SHARE SUCH AS GREAT HOUSING (ALCOHOL AND DRUG FREE), HONORS HOUSING, LGBTQIA HOUSING, AND THE GEAR (GLOBAL EXPERIENCE ACADEMIC RESIDENTIAL) PROGRAM HOUSING WHICH PROVIDES AN OPPORTUNITY FOR U.S. STUDENTS TO LIVE WITH INTERNATIONAL STUDENTS. DINING ON CAMPUS PROVIDES THE SOCIAL EXPERIENCE ESSENTIAL TO A WELL-ROUNDED CAMPUS LIFE. FORM 990, PART III, LINE 4C, STUDENT SERVICES: STUDENTS ARE AT THE CENTER OF THE COLLEGE'S MISSION. WHILE THE ACADEMIC ELEMENTS ARE FOREMOST, SUPPORTING THE STUDENTS' PERSONAL DEVELOPMENT IS VITAL AS WELL. THE OFFICES OF ADMISSIONS, STUDENT LIFE, EDMUNDITE CAMPUS MINISTRY, ADVENTURE SPORTS CENTER, ATHLETICS AND MANY STUDENT CLUBS WORK TO ENHANCE STUDENTS' PERSONAL GROWTH AS WELL AS THEIR ACADEMIC SUCCESS. TO SUPPLEMENT THE ACADEMIC CULTURE ON CAMPUS AND ENRICH OVERALL QUALITY OF THE COLLEGE EXPERIENCE, A VARIETY OF WEEKEND PROGRAMS IS OFFERED TO STUDENTS, ALONG WITH MANY OUTDOOR PROGRAMS SUCH AS THE SKI PASS, A VARIETY OF MINISTRY PROGRAMS, AND COMMUNITY SERVICE OPPORTUNITIES THROUGH MOVE (MOBILIZATION OF VOLUNTEER EFFORTS). OVER 80% OF STUDENTS ARE INVOLVED IN SOME FORM OF INTERCOLLEGIATE, INTRAMURAL, CLUB, RECREATION, PERSONAL FITNESS, OR ADVENTURE SPORTS CENTER OFFERING. APPROXIMATELY 30% OF SAINT MICHAEL'S COLLEGE STUDENTS PARTICIPATE IN ONE OF THE 21 VARSITY SPORTS. OUR STUDENT ATHLETES HAVE ACHIEVED A 99% ACADEMIC SUCCESS RATE (ASR); A STATISTIC DEFINED BY THE NCAA AS A MEASUREMENT OF GRADUATION WITHIN A 6-YEAR COHORT TIME PERIOD AS OF JUNE 2021. SAINT MICHAEL'S COLLEGE LED ALL NCAA DIVISION II COLLEGES IN THIS SIGNIFICANT STATISTIC IN 2021, AND HAS AGAIN BEEN RECOGNIZED AS A RECIPIENT OF THE DIVISION II PRESIDENTS' AWARD FOR ACADEMIC EXCELLENCE AS A MEMBER OF THE NORTHEAST-10 CONFERENCE. THIS IS THE FOURTH TIME THAT SMC HAS LED THE NATION IN NCAA ASR, AND THE 14TH STRAIGHT YEAR BEING RANKED AMONG THE NATION'S TOP FOUR DIVISION II COLLEGES AND UNIVERSITIES. IT'S THE 10TH TIME THAT SAINT MICHAEL'S HAS ACHIEVED THE HIGHEST ACADEMIC SUCCESS RATE IN THE NORTHEAST-10, AND THE 15TH CONSECUTIVE YEAR FINISHING AMONG THE LEAGUE'S TOP TWO. THE OFFICE OF STUDENT ACTIVITIES STRIVES TO PROVIDE STUDENTS OPPORTUNITIES TO DEVELOP AS ETHICAL LEADERS AND ENGAGED CITIZENS, AND OFFERS A WIDE VARIETY OF PROGRAMS AND ACTIVITIES DESIGNED TO MEET THEIR NEEDS. THE COLLEGE HAS EMBRACED THE YOU COUNT PROGRAM (COMMUNITY, OWNERSHIP, UNITY IN DIVERSITY, NOTICE EACH OTHER AND TAKE CARE OF SELF AND OTHERS) WHICH FOSTERS AN INCLUSIVE AND SEAMLESS LEARNING ENVIRONMENT THAT ENHANCES ENGAGEMENT, AWARENESS, AND PERSONAL DEVELOPMENT. EDUCATIONAL PROGRAMS OFFERED IN THE RESIDENCE HALLS HELP TO BRING PEOPLE TOGETHER WHO MIGHT NOT HAVE OTHERWISE MET, HELP PEOPLE TO BETTER KNOW EACH OTHER, AND EXPOSE INDIVIDUALS TO NEW IDEAS AND BELIEFS. FLOOR VISITORS DIALOGUE PROGRAMS PROVIDE AN ENVIRONMENT CONDUCIVE FOR FACULTY, STAFF AND STUDENT DIALOGUE ABOUT ACADEMIC AND COMMUNITY PURSUITS. THESE ARE A SAMPLE OF THE PROGRAMMING OFFERED TO STUDENTS IN THE RESIDENCE HALLS. THE OFFICE OF STUDENT ACTIVITIES ASSISTS THE STUDENT GOVERNMENT ON CAMPUS AS WELL AS STUDENT CLUBS. APPROXIMATELY 95% OF THE STUDENT POPULATION PARTICIPATES IN STUDENT ACTIVITIES PROGRAMS. THE COLLEGE EMBRACES AND SUPPORTS STUDENTS' COMMITMENT TO COMMUNITY SERVICES REFLECTED BY THE FACT THAT ABOUT 50% OF OUR STUDENTS PARTICIPATE IN A SERVICE ACTIVITY THROUGH OUR MOVE PROGRAM PART OF EDMUNDITE CAMPUS MINISTRY. THE FUNDAMENTAL OBJECTIVE OF EDMUNDITE CAMPUS MINISTRY IS TO HELP STUDENTS, FACULTY AND STAFF REFLECT ON AND CELEBRATE THE SPIRITUAL AND RELIGIOUS DIMENSIONS OF THEIR LIVES WHILE AT SAINT MICHAEL'S COLLEGE. PROGRAMS SUCH AS RETREATS, LITURGIES, SPIRITUAL DIRECTION, AND PRAYERFUL REFLECTION MEALS ARE DESIGNED TO ENCOURAGE EVERYONE TO STEP BACK AND EXPERIENCE LIFE AT ITS DEEPEST, MOST MEANINGFUL LEVEL. ABOUT 5% OF OUR STUDENT POPULATION IS INVOLVED IN WEEKLY OR DAILY WORSHIP AS WELL AS ATTENDANCE IN THESE PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS FORM 990 SCHEDULES ARE PREPARED BY COLLEGE PERSONNEL WITH GUIDANCE AND REVIEW FROM EXTERNAL TAX PREPARERS WHO SIGN AND FILE THE FORM. PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE EACH MEMBER OF THE BOARD OF TRUSTEES WAS PROVIDED FORM 990 AND ALL SCHEDULES, EXCEPT SCHEDULE B, CONTRIBUTION DETAIL, IN ORDER TO RESPECT OUR DONORS' CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE SECRETARY OF THE COLLEGE DISTRIBUTES THE CONFLICT OF INTEREST POLICY, QUESTIONNAIRE AND CERTIFICATION ANNUALLY TO TRUSTEES, OFFICERS AND KEY EMPLOYEES. THE SECRETARY REVIEWS THE RESPONSES AND POTENTIAL CONFLICTS ARE BROUGHT TO THE TRUSTEESHIP AND MISSION COMMITTEE FOR REVIEW AND RESOLUTION. A LIST OF INTERLOCKING BOARDS IS MAINTAINED TO ASSIST IN DETERMINING IF POTENTIAL CONFLICTS ARISE DURING THE YEAR. THE TRUSTEESHIP AND MISSION COMMITTEE SUBMITS NAMES FOR BOARD RECRUITMENT AND VETS ANY CONFLICT ISSUES. THIS COMMITTEE PROVIDES INFORMATION TO THE EXECUTIVE COMMITTEE FOR CONSIDERATION AND NOMINATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, EXCLUDING THE COLLEGE PRESIDENT, IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING A COMPETITIVE COMPENSATION PROGRAM FOR THE EXECUTIVE OFFICERS OF THE COLLEGE. THE EXECUTIVE COMMITTEE MEETS AS NEEDED TO REVIEW THE COMPENSATION PROGRAM AND MAKE RECOMMENDATIONS FOR ANY CHANGES. THE EXECUTIVE COMMITTEE HAS THE RESPONSIBILITY FOR DECISIONS REGARDING COMPENSATION IN ALL ITS CURRENT AND POTENTIAL FORMS FOR THE EXECUTIVE OFFICERS OF THE COLLEGE. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES INDEPENDENT COMPENSATION DATA, E.G., NACUBO, CUPA, ETC. AND ANALYSIS TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW SURVEY DATA REGARDING COMPENSATION FOR THE PRESIDENT AND OTHER OFFICERS OF THE COLLEGE. THE MEETING WAS ON OCTOBER 16, 2020 FOR THE FISCAL YEAR INCLUDED IN THIS RETURN. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE POLICY THE COLLEGE IS A PRIVATE ORGANIZATION AND THEREFORE BY LAW, IS NOT REQUIRED TO MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. IN THE INTEREST OF TRANSPARENCY, THE COLLEGE COMPLIES WITH REQUESTS FOR THIS INFORMATION FROM FEDERAL AND STATE REGULATORY AGENCIES, OUR ACCREDITATION AGENCY, OTHER ENTITIES OR INDIVIDUALS IN THE ORDINARY COURSE OF BUSINESS. THE COLLEGE POSTS THE MOST RECENT THREE YEARS OF FORM 990 AND 990-T ON OUR WEBSITE. FORM 990, PART VI, SECTION B, LINE 14: DOCUMENT RETENTION AND DESTRUCTION POLICY THE COLLEGE HAS A HIGH-LEVEL DOCUMENT RETENTION AND DESTRUCTION POLICY AND FOLLOWS SPECIFIC GUIDELINES PROVIDED BY THE INTERNAL REVENUE SERVICE AND RELEVANT REGULATIONS WITH RESPECT TO RECORDS RETENTION AND DESTRUCTION INCLUDING THE PROVISIONS OF VERMONT LAW (9 VSA PART 3 CHAPTER 62 SUBCHAPTER 4 DOCUMENT SAFE DESTRUCTION ACT) WITH RESPECT TO DISPOSAL OF DOCUMENTS CONTAINING CONFIDENTIAL INFORMATION. ANOTHER RESOURCE UTILIZED BY THE COLLEGE IS "RECORD RETENTION AND DISPOSAL: A MANUAL FOR COLLEGE DECISION MAKERS", WHICH PROVIDES THE COLLEGE WITH A GUIDE TO THE APPLICABLE LAWS, REGULATIONS AND OTHER CONSIDERATIONS FOR ALL AREAS OF OUR BUSINESS, INCLUDING EMPLOYMENT AND ADMISSIONS APPLICATIONS, PAYROLL, STUDENT RECORDS, FINANCIAL, TAX AND CONTRIBUTIONS RECORDS AS WELL AS FEDERAL REPORTING SPECIFIC TO THE HIGHER EDUCATION INDUSTRY. FORM 990, PART XI, LINE 9: SYSTEM CONVERSION COST -693,771. SAINT MICHAEL'S COLLEGE FIRE & RESCUE ONE WINOOSKI PARK COLCHESTER VT 05439 201120657 FIRE & RESCUE VT 501(C)(3) 7 SMC 1 MERRILL CEMETERY ASSOCIATION INC ONE WINOOSKI PARK COLCHESTER VT 05439 010868920 CEMETARY VT 501(C)(13) SMC 1 GREEN MTN HIGHER EDUCATION CONSORTIUM 84 SOUTH SERVICE ROAD RM202B MIDDLEBURY VT 05753 901113280 CONSORTIUM VT 501(C)(3) 509(A)(3)I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 SAINT MICHAEL'S COLLEGE FIRE & RESCUE N 81650 FMV SAINT MICHAEL'S COLLEGE FIRE & RESCUE Q 284899 COST