2021-05-14T15:19:00-07:00 2020-06-30 990 2019-07-01 111797182 MOLLOY COLLEGE MOLL 5163233000 1000 Hempstead Avenue PO Box 5002 Rockville Centre NY 115715002 Susan D Williams VP for Finance & Treasurer 5163233033 2021-05-14 2019 2022-09-23 18:48:47Z James Lentini 1000 Hempstead Avenue Rockville Centre NY 11769 243210217 0 0928 X www.molloy.edu X 1955 NY Molloy College, an independent Catholic college, rooted in the Dominican tradition of study, spirituality, service, and community, is committed to academic excellence with respect for each person. 28 27 2070 130 515500 -355184 4449809 10150247 142092404 147286279 727658 1659279 1882121 1995867 149151992 161091672 28130822 31800381 0 0 79804345 84361859 0 0 1962616 34818341 38348587 142753508 154510827 6398484 6580845 234976367 237160877 121290040 118262235 113686327 118898642 Molloy College, an independent Catholic college, rooted in the Dominican tradition of study, spirituality, service, and community, is committed to academic excellence with respect for each person. Through transformative education, Molloy promotes a lifelong search for truth and the development of ethical leadership. 0 0 125305034 31800381 147286279 Founded in 1955 by the Dominican Sisters of Amityville, Molloy College (the "College" or "Molloy") is an independent Catholic college, rooted in the Dominican tradition of study, spirituality, service, and community, and committed to academic excellence with respect for each person. Through transformative education, Molloy promotes a lifelong search for truth and the development of ethical leadership. With nearly 5,000 students, Molloy College offers 107 undergraduate degrees in career areas, professional areas and in the Liberal Arts and Sciences, as well as 58 Master's degrees and 3 Doctoral degrees, the most recent the Ed.D. in Educational Leadership for Diverse Learning Communities, added in 2015. The College provides a student-centered learning experience which enhances the intellectual, ethical, spiritual and social development of every student, and strives to enhance the quality of its academic programs, faculty, and teaching learning environment. The College continues to identify, recruit and educate students who demonstrate leadership qualities, understand the need for civic engagement and aspire to serve the community. Located in Rockville Centre, NY, the College is a dynamic learning institution with outstanding faculty, state-of-the-art-technology and distinguished academic programs. Notably, Molloy's Nursing program is among the largest nursing programs in the northeast region and in the country. 0 0 0 125305034 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 497 0 1 2070 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Susan Williams 5163233000 1000 Hempstead Avenue Post Office Box 5002 Rockville Centre NY 115715002 Drew Bogner President (ex officio voting member of Board) 35 0 X X 972025 0 68104 Edward J Thompson Vice President Office of Advancement 35 0 X 254728 0 67684 Ann Branchini Vice President Academic Affairs 35 0 X 281285 0 22635 Susan Williams Vice President Finance and Treasurer 35 0 X 266695 0 23815 Marcia Gardner Dean of Nursing 35 0 X 239698 0 20660 Michael Torres Vice President Office of Technology 35 0 X 199922 0 41234 Maureen Mackenzie Ruppel Dean of Business 35 0 X 208756 0 31505 Barbara Schmidt Assistant Vice President Academic Affairs 35 0 X 209015 0 31109 Linda Albanese Vice President Enrollment Management 35 0 X 213790 0 21103 John Carpente Director of Rebecca Center 35 0 X 211781 0 11582 Audrey Cohan Senior Dean of Research and Scholarship 35 0 X 202617 0 12000 Janine Biscari Vice President Student Affairs 35 0 X 180807 0 19590 Diane K Fornieri Secretary 35 0 X 148889 0 43475 Catherine Tully Muscente Vice President for Mission and Ministry 35 0 X 144780 0 43170 John P McEntee Chairperson 1 0 X X 0 0 0 Phillipa G Woodriffe Vice Chairperson 1 0 X X 0 0 0 Sammy Chu Trustee 1 0 X 0 0 0 Rose L Ciampa Trustee 1 0 X 0 0 0 Salvatore P Ciampo Trustee 1 0 X 0 0 0 Donna L Dellomo Trustee 1 0 X 0 0 0 Diane Esposito Trustee 1 0 X 0 0 0 Maureen Evers Willox Trustee 1 0 X 0 0 0 Laura Farahani Trustee 1 0 X 0 0 0 Raymond E Farrell Trustee 1 0 X 0 0 0 Nicolette Fiore-Lopez Trustee 1 0 X 0 0 0 Jeffrey H Greenfield Trustee 1 0 X 0 0 0 Matthew Grover Trustee 1 0 X 0 0 0 David M Hagan Trustee 1 0 X 0 0 0 Daniel Hines Trustee 1 0 X 0 0 0 S Zaki Hossain Trustee 1 0 X 0 0 0 Shari James Pierre Trustee 1 0 X 0 0 0 S Anne Marie Kirmse Trustee 1 0 X 0 0 0 S Patricia Koehler OP Trustee 1 0 X 0 0 0 Brendan Lavelle Trustee 1 0 X 0 0 0 Sr Margaret McVetty OP Trustee 1 0 X 0 0 0 Timothy Mooney Trustee 1 0 X 0 0 0 Kenneth J Pritchard Trustee 1 0 X 0 0 0 Robert S Salvatico Trustee 1 0 X 0 0 0 Susan Santoro Trustee 1 0 X 0 0 0 Sr Kathleen Tuite Trustee 1 0 X 0 0 0 John Westerman Trustee 1 0 X 0 0 0 3734788 0 457666 160 0 1 0 Axis Construction Corp 125 Laser Court Hauppauge NY 11788 Construction 13045118 Austin & Williams 80 Arkay Drive Suite 220 Hauppauge NY 117884015 Media Services 2061272 Cutlass Industries Inc 193 Horton Avenue Lynbrook NY 11563 Renovations 1646763 Bryant AC Contractors Inc 420B Wyandanch Avenue N Babylon NY 11704 HVAC 770761 Lessing's Food Service Management 3500 Sunrise Highway BLD 100 Suite 100 Great River NY 11739 Food Service 745261 20 0 0 324935 0 7457079 2368233 800107 10150247 Tuition Tuition and Fees 900099 143308646 143308646 0 0 Auxilliary Service 611710 3977633 3977633 0 0 0 0 0 0 147286279 1522394 0 0 1522394 0 0 0 0 10745 0 0 10745 135545 0 0 0 135545 0 135545 0 0 135545 81935111 0 81798226 0 136885 0 136885 0 0 136885 412895 311840 318542 94353 0 94353 89288 1777 87511 0 0 87511 0 0 0 0 0 0 Bad Debt Recoveries 900099 75555 0 0 75555 Madison Theatre Tuition 900099 149068 0 0 149068 Theatre Ticket Sales 900099 510132 0 510132 0 932958 0 5368 927590 1667713 161091672 147286279 515500 3139646 0 0 31800381 31800381 0 0 0 0 2512549 417770 1818368 276411 0 0 0 0 60297188 51151399 8417104 728685 3617043 2969729 589433 57881 13597338 11163928 2215822 217588 4337741 3561449 706878 69414 0 0 0 0 529984 0 529984 0 109145 0 109145 0 0 0 0 0 0 0 329175 0 329175 0 845122 204237 558627 82258 2917679 0 2917679 0 1233731 955180 268690 9861 2005395 513990 1483044 8361 0 0 0 0 3169790 2984041 172783 12966 795678 589077 196353 10248 0 0 0 0 288708 202253 85189 1266 3605843 3394541 170556 40746 0 0 0 0 6944108 6537183 378519 28406 1598836 473540 1125296 0 Contracted Services 1982871 1399426 406215 177230 Graduation and Events 1104556 696808 303887 103861 Testing 555447 555447 0 0 Bad Debt 799132 0 799132 0 9533387 5734655 3661298 137434 154510827 125305034 27243177 1962616 15198520 9223686 32627681 35001174 1773538 4628905 1968678 3168622 0 0 0 0 3093822 2809858 0 0 1015928 1327860 209476801 79609573 127098453 129867228 34388966 38904943 7788722 6096676 0 0 381250 291750 9640809 5840175 234976367 237160877 14460943 12972597 2016904 1945366 3600306 4450265 93326483 90891694 2401454 3140711 0 0 0 0 60774 186988 5423176 4674614 121290040 118262235 X 103480525 108148994 10205802 10749648 113686327 118898642 234976367 237160877 X 6580845 2218438 0 0 0 -3586968 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 41 41 0 Schedule C, Part II-B, Line 1 Molloy College is a dues paying member of NACUBO and EACUBO. Amount reported presents the College's allocable share of lobbying expense. 0 311170 0 0 X 0 0 1 X 40758565 554200 2518733 183061 0 0 43648437 38240438 323926 2376828 182627 0 0 40758565 36141633 172040 2521566 178929 415872 0 38240438 32215465 1173145 3334323 184691 396609 0 36141633 33367751 144907 -886169 103358 307666 0 32215465 0.84 0.14 0.02 0 0 0 3273630 3273630 0 164631479 46538101 118093378 0 5537522 3353368 2184154 0 36034170 29718104 6316066 0 0 0 0 129867228 0 Bond Interest Payable 2114500 Conditional Asset Retirement Obligation 1134836 Deferred Rent 1425278 4674614 X 131500873 2218438 0 0 0 2218438 129282435 329175 31480062 31809237 161091672 126288558 0 0 0 3586968 3586968 122701590 329175 31480062 31809237 154510827 Schedule D, Part III, Line 4 The College maintains an artwork collection in various buildings for the enjoyment of students, employees, and visitors to its campus. Schedule D, Part IV, Line 2b Molloy College had $3,140,711 in student credit balances at June 30, 2020. These balances represent potential tuition money owed to students due to over-payment, financial aid applied to the student's account or payments made for the next semester. Schedule D, Part V, Line 4 The College's endowment fund is intended to support the College's educational mission. The endowment earnings are used to fund the College's daily operations, including scholarships, student programs, and other campus activities. The Board of Trustees, through its approved investment policy guidelines, has interpreted the New York Prudent Management of Institutional Funds (NYPMIFA) to allow the College to spend below the historical dollar value of its endowment unless specific donors have stipulated to the contrary. Schedule D, Part X, Line 2 The College follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may challenged. The College is exempt from federal income tax under IRC section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is excluded by the Code. The College has processes in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligation in jurisdictions for which it was nexus; and to identify and evaluate other matters that may be considered tax position. The College has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Schedule D, Part XI, Line 4b Institutional aid totaling $31,800,381 is shown as an expense on Form 990 Part IX but is netted against revenue in the financial statements. Fundraising expenses totaling $318,542 and gaming expenses totaling $1,777 are shown as a reduction of net income from fundraising on Form 990 Part VIII and is shown as an expense in the financial statements. Schedule D, Part XII, Line 2d The construction of the science building was put on hold indefinitely. As such, the College wrote off $3,586,968 in construction in progress relating to the science building. This was included on the June 30, 2020 audited financial statements and is a reconciling item on the form 990. Schedule D, Part XII, Line 4b Institutional aid totaling $31,800,381 is shown as an expense on Form 990 Part IX but is netted against revenue in the financial statements. Fundraising expenses totaling $318,542 and gaming expenses totaling $1,777 are shown as a reduction of net income from fundraising on Form 990 Part VIII and is shown as an expense in the financial statements. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Nondiscrimination policies are furnished in catalogs and publications, as well as, on the College website. Schedule E, Part I, Line 6 The College receives Federal funding primarily from the United States Department of Education through the Student Financial Assistance Cluster. During fiscal year 2020, the College received assistance from the Federal government for COVID-19 relief from the CARES Act. Central America and the Caribbean 0 0 Investments 4533910 0 0 4533910 1 0 1 0 1 0 Annual Gala 316675 140545 176130 0 1097 0 64972 20000 84084 Molloy Golf 257905 83640 174265 0 0 73089 0 732 3232 1 163250 100750 62500 0 5576 62640 0 0 3120 737830 324935 412895 0 6673 135729 64972 20732 90436 318542 94353 0 0 0 0 0 0 0 0 0 0 0 0 89288 0 1777 0 0 0 89288 0 1777 0 0 1777 87511 NY 1 0 1 0 0.99 0.01 Susan Williams 1000 Hempstead Avenue Rockville Centre NY 11571 0 Edward Thompson 0 The College does not employee a gaming manager. The individual listed is the Vice President for Advancement and is responsible for the fundraising component of revenues, along with the Director of Athletics, who raises funds for the athletic department. X 0 0 1 Institutional aid and scholarships 2904 31800381 0 Schedule I, Part I, Line 2 The College follows federal, state and institutional policies and regulations to monitor grants and funds: 1) the student applies for the grants; 2) grants are awarded from the various funding sources depending on need and/or academic standing; 3) the student's eligibility is verified through federal, state and institutional requirements, matriculation, registration, attendance and academic progress; 4) grants and awards are processed onto the student's account; 5) where loans are involved, the College follows up with the regulatory requirements after graduation. The Free Application for Federal Student Aid (FAFSA) is an integral part of this process. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Drew Bogner President (ex officio voting member of Board) 414864 0 100000 0 457160 0 165375 0 27729 0 1165128 0 400000 0 Susan Williams Vice President Finance and Treasurer 266695 0 0 0 0 0 23815 0 0 0 290510 0 0 0 Diane K Fornieri Secretary 148889 0 0 0 0 0 15746 0 27729 0 192364 0 0 0 Ann Branchini Vice President Academic Affairs 251285 0 0 0 30000 0 22635 0 0 0 303920 0 0 0 Edward J Thompson Vice President Office of Advancement 250798 0 0 0 3930 0 26450 0 41234 0 322412 0 0 0 Linda Albanese Vice President Enrollment Management 210719 0 0 0 3071 0 21103 0 0 0 234893 0 0 0 Michael Torres Vice President Office of Technology 199922 0 0 0 0 0 0 0 41234 0 241156 0 0 0 Janine Biscari Vice President Student Affairs 180342 0 0 0 465 0 16050 0 3540 0 200397 0 0 0 Catherine Tully Muscente Vice President for Mission and Ministry 144780 0 0 0 0 0 15441 0 27729 0 187950 0 0 0 Marcia Gardner Dean of Nursing 239698 0 0 0 0 0 20660 0 0 0 260358 0 0 0 John Carpente Director of Rebecca Center 211781 0 0 0 0 0 11582 0 0 0 223363 0 0 0 Barbara Schmidt Assistant Vice President Academic Affairs 209015 0 0 0 0 0 16889 0 14220 0 240124 0 0 0 Maureen Mackenzie Ruppel Dean of Business 208756 0 0 0 0 0 17285 0 14220 0 240261 0 0 0 Audrey Cohan Senior Dean of Research and Scholarship 202617 0 0 0 0 0 12000 0 0 0 214617 0 0 0 Schedule J, Part I, Line 1a The President and Vice Presidents of the College are permitted certain perquisites by virtue of their position at the College. By contract, the President is entitled to a housing allowance, a car and reimbursement for social club dues. By contract, the Vice President for Academic Affairs is entitled to a housing allowance and the Vice President for Advancement is entitled to a car and reimbursement for social club dues. The housing allowance and the personal use of the cars are a taxable benefit and are included in "other reportable compensation" column (b)(iii) in Schedule J. The President and Vice President use the social club solely in a business capacity and therefore, this is a non-taxable fringe benefit. The compensation of the President is approved by the Board of Trustees. Schedule J, Part I, Line 4 The President participates in the College's Section 457(f) plan. In calendar year 2019, President Bogner received a payout of $400,000 from his 457(f) plan; that amount is reported in Schedule J, Part II, column (b)(iii) and in column (f) to reflect amounts that were previously reported as deferred compensation on earlier 990s. Likewise, the College funded an additional $125,000 into President Bogner's 457(f) plan in fiscal 2020; that amount is reported in column (c) as deferred compensation. Schedule J, Part I, Line 7 President, Drew Bogner, received a $100,000 bonus in calendar year 2019, authorized at the discretion of the Board for meeting certain objective performance-based criteria. A Town of Hempstead Local Development Corporation 112798949 424682GE6 2014-11-14 32574808 To finance the cost of a new academic building. 0 0 0 B Town of Hempstead Local Development Corporation 112798949 424682HD7 2017-07-01 49942142 To refinance the Series 2009 Bonds. 0 0 0 C Town of Hempstead Local Development Corporation 112798949 424682JU7 2018-10-18 15000000 To finance the cost of a new dormitory building 0 0 0 A 1125000 0 35574808 1327424 1480180 0 481260 0 0 30378282 0 0 2016 0 0 1 1 B 2385000 0 49942142 2257547 0 0 697145 0 0 0 48923275 0 2017 0 1 1 1 C 160000 0 16104560 611537 527083 0 395615 0 0 15162277 0 0 2019 0 0 1 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 Schedule K, Part IV, Line 2c-11/14/2014 32,574,808 Town of Hempstead Local Development Corporation Pursuant to the five year arbitrage rules, the College had contracted an outside organization to complete the calculation and it was determined on November 14, 2019 that no rebate was due. X 2 350107 Market Value at the date of donation X 1 450000 Market Value at the date of purchase 0 0 0 1 Schedule M, Part I, Line 32b As part of its fundraising efforts, the College solicits donations from many sources. In those instances where non-cash assets are acquired, generally in the form of donated publicly traded securities, the securities are transferred to our outside investment manager and received into an account set up to receive such donations. The College requests from the donor, a statement asserting that the securities can be liquidated. The investment manager then liquidates the securities and the cash is transferred to the appropriate cash account for its intended use. Form 990, Part VI, Section B, Line 11b It is the policy of the College to have the Form 990 reviewed by the College's independent auditors. The College then reviews the return with the Audit and Compliance committee of the Board of Trustees to obtain approval of the committee. The results of these reviews, along with a copy of the completed Form 990, are reported and made available to the full Board prior to filing the return. Form 990, Part VI, Section B, Line 12c A conflict of interest statement is required to be completed annually for all Board of Trustee members, officers and key employees. Any transactions or business relationships between the College and a trustee or family member is subject to review and approval of disinterested members of the Board to ensure that such transactions or relationships are in the best interest of the College and complies with College policy and all applicable legal and ethical guidelines. The Executive Committee of the Board shall report to the full Board periodically, but at least annually, any significant transactions and relationships. Form 990, Part VI, Section B, Line 15 Compensation of the President of the College and its key employees are approved by the Board of Trustees. The compensation of the President is based on several factors, including data collected from and compared to various colleges and universities in our peer group. Form 990, Part VI, Section C, Line 19 The College does not post its financial statements on its website. Copies are made available upon request. The Form 990 is posted on Guidestar and is made available in the College's Finance office. Bylaws and other governing documents are maintained on premises and available upon request. Form 990, Part XI, Line 9 The construction of the science building was put on hold indefinitely. As such, the College wrote off $3,586,968 in construction in progress relating to the science building. This was included on the June 30, 2020 audited financial statements and is a reconciling item on the form 990. The College filed an extension to move the filing date until May 15, 2020 to allow for additional time to complete report.