2021-05-10T15:10:48-05:00 2020-06-30 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2019-07-01 131967322 DOMINICAN COLLEGE OF BLAUVELT NY % ANTHONY CIPOLLA DOMI 8458487814 470 WESTERN HIGHWAY ORANGEBURG NY 10962 ANTHONY CIPOLLA VP Financial Affairs 8458487814 2021-05-10 true SCOTT THOMPSETT P00741490 2125990100 2019 2022-09-23 18:48:47Z SR MARY EILEEN O'BRIEN 470 WESTERN HIGHWAY ORANGEBURG NY 10962 61036318 false 0928 X WWW.DC.EDU X 1952 NY TO PROMOTE EDUCATIONAL EXCELLENCE, LEADERSHIP, AND SERVICE IN AN ENVIRONMENT CHARACTERIZED BY RESPECT FOR THE INDIVIDUAL AND CONCERN FOR THE COMMUNITY. 32 30 715 307 133096 0 2016323 5111043 56189706 55245174 261910 244684 392561 397108 58860500 60998009 17987757 17909910 0 0 23000291 23119218 0 57550 997262 17120441 17149280 58108489 58235958 752011 2762051 63504350 67958899 37144233 38794975 26360117 29163924 X THE AIM OF DOMINICAN COLLEGE IS TO PROMOTE EDUCATIONAL EXCELLENCE, LEADERSHIP, AND SERVICE IN AN ENVIRONMENT CHARACTERIZED BY RESPECT FOR THE INDIVIDUAL AND CONCERN FOR THE COMMUNITY AND ITS NEEDS. FOUNDED BY THE DOMINICAN SISTERS OF BLAUVELT, THE COLLEGE IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING, CATHOLIC IN ORIGIN AND HERITAGE. IN THE DOMINICAN TRADITION, IT FOSTERS THE ACTIVE, SHARED PURSUIT OF TRUTH AND EMBODIES AN IDEAL OF EDUCATION ROOTED IN THE VALUES OF REFLECTIVE UNDERSTANDING AND COMPASSIONATE INVOLVEMENT. COMMITTED TO BUILDING ITS PROGRAMS UPON A STRONG FOUNDATION IN THE LIBERAL ARTS AND SCIENCES, THE COLLEGE MAINTAINS A STUDENT-CENTERED CLIMATE AND SERVES A DIVERSE COMMUNITY OF STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE COLLEGE EMPOWERS THIS COMMUNITY OF LEARNERS TO EXCEL, LEAD AND SERVE WITH INTEGRITY AND TO ENGAGE RESPONSIBLY IN THE PURSUIT OF A MORE JUST, ETHICAL AND SUSTAINABLE WORLD. DOMINICAN COLLEGE IS DEDICATED TO THE PRINCIPLE THAT ITS EDUCATIONAL false false 50913518 17909910 55271798 DOMINICAN COLLEGE WAS FOUNDED IN 1952 BY THE SISTERS OF ST. DOMINIC OF BLAUVELT AND CONTINUES TO SERVE APPROXIMATELY 2,000 STUDENTS AS A PRIVATE, COEDUCATIONAL INSTITUTION, PROUD OF ITS DOMINICAN AND CATHOLIC TRADITION. THE COLLEGE IS COMMITTED TO MAINTAINING ITS VALUE-CENTERED, STUDENT-ORIENTED FOCUS. WITH A STUDENT/FACULTY RATIO OF 13 TO 1, EACH PERSON RECEIVES THE ASSISTANCE AND CHALLENGE SHE OR HE NEEDS TO REALIZE PERSONAL ASPIRATIONS AND TO BECOME A CONTRIBUTING CITIZEN. THE COLLEGE IS A LIBERAL ARTS INSTITUTION WHICH PROVIDES PROFESSIONAL PROGRAMS IN TEACHER EDUCATION, ATHLETIC TRAINING, SOCIAL WORK, BUSINESS ADMINISTRATION AND THE HEALTH CARE PROFESSIONS OF NURSING AND OCCUPATIONAL AND PHYSICAL THERAPY. OVER THIRTY PROGRAMS, MANY OF WHICH ARE NATIONALLY ACCREDITED, ARE OFFERED ON THE UNDERGRADUATE AND MASTER'S LEVEL. THE 15,000 MEMBERS OF OUR ALUMNI MAKE A SIGNIFICANT DIFFERENCE IN THE HOSPITALS, SCHOOLS AND BUSINESSES WHERE THEY SERVE. DOMINICAN COLLEGE IS AN ACADEMIC COMMUNITY COMMITTED TO FOSTERING THE VALUES OF EXCELLENCE, LEADERSHIP AND SERVICE IN ITS CURRICULAR AND EXTRA-CURRICULAR PROGRAMS. A MEMBER OF NCAA, DIVISION II, THE ATHLETIC DEPARTMENT SPONSORS SEVENTEEN COMPETITIVE SPORTS DURING THE FALL AND SPRING SEMESTERS. THE STUDENT BODY IS RICHLY DIVERSE AND IS COMPOSED OF TRADITIONAL AND NON-TRADITIONAL AGED STUDENTS WHO COMMUTE OR RESIDE ON CAMPUS. SPECIAL PROGRAMS EXIST FOR ADULT LEARNERS WHO WORK FULL TIME WHILE ATTENDING ACCELERATED PROGRAMS IN THE EVENING OR ON WEEKENDS. 50913518 true true false true false false false true false true true false false false true true true false true false false false false true true false false false true true true false false false false false false false false false false true true false false false false false false false true 28 0 true 715 true true true false false false false true true false false false false false false X 32 30 false false false false false false false true true false false true true true true true true true true false X ANTHONY CIPOLLA 8458487814 470 WESTERN HIGHWAY ORANGEBURG NY 10962 Sr Mary Eileen O'Brien OP President 35.0 0.0 X X 263407 0 18338 ANTHONY J CIPOLLA VP FINANCIAL AFFAIRS 35.0 0.0 X 153837 0 27451 MICHAEL KELLY DIR OF GRADUATE STUDIES 35.0 0.0 X 154051 0 23596 THOMAS NOWAK VP OF ACADEMIC AFFAIRS 35.0 0.0 X 148251 0 26664 BRIAN FERNANDES VP OF ENROLLMENT 35.0 0.0 X 139092 0 26649 Joseph Valenti VP Institutional Advancement 35.0 0.0 X 147745 0 17826 RUSSELL DIAZ EXECUTIVE DIRECTOR OF IT 35.0 0.0 X 137660 0 25167 Emil Euaparadorn DIR OF PHYSICAL THERAPY 35.0 0.0 X 121910 0 22996 Sr Kathleen Sullivan OP Chancellor 35.0 0.0 X 125807 0 18338 Steven T Sabatini V. Chair/chair (as of 07/2019) 10.0 0.0 X X 0 0 0 John Bartolotta Trustee 3.0 0.0 X 0 0 0 Michael K Breen Esq Trustee 2.0 0.0 X 0 0 0 Sr Mary Ann Collins OP Trustee 2.0 0.0 X 0 0 0 Sr Michaela Connolly Trustee 2.0 0.0 X 0 0 0 James D'Ambrosio Trustee (AS OF 07/2019) 2.0 0.0 X 0 0 0 John T Dillon JR Trustee 7.0 0.0 X 0 0 0 Dr Joan H Facelle MD Trustee/V Chair(as of 07/2019) 2.0 0.0 X X 0 0 0 Sr Mary Flood OP MD PH Trustee 2.0 0.0 X 0 0 0 Dr John Flynn Trustee 5.0 0.0 X 0 0 0 Dr Bernadette Kappen Trustee 2.0 0.0 X 0 0 0 Mary Leahy Trustee 2.0 0.0 X 0 0 0 Liliana Lopez Trustee 2.0 0.0 X 0 0 0 Christopher Mahoney Trustee 5.0 0.0 X 0 0 0 Peter M McGroddy Trustee 2.0 0.0 X 0 0 0 Michael McLaughlin Trustee 2.0 0.0 X 0 0 0 Thomas McNamara Trustee 2.0 0.0 X 0 0 0 Pat Miele Trustee 3.0 0.0 X 0 0 0 James O'Brien Trustee 5.0 0.0 X 0 0 0 dr Clement Y Osei MD Trustee 2.0 0.0 X 0 0 0 Ross Pepe Trustee 2.0 0.0 X 0 0 0 Michael Perry Trustee 2.0 0.0 X 0 0 0 Brian Quinn Trustee 2.0 0.0 X 0 0 0 Michael Santos Trustee 2.0 0.0 X 0 0 0 Michael Shilale Trustee (AS OF 07/2019) 2.0 0.0 X 0 0 0 Dr Erinmarie Sullivan Trustee 2.0 0.0 X 0 0 0 James T Toolen Trustee 3.0 0.0 X 0 0 0 Sr Noreen Walsh Trustee 2.0 0.0 X 0 0 0 Sr Barbara Werner Trustee (AS OF 07/2019) 2.0 0.0 X 0 0 0 Sr Anne Daniel Young OP Trustee 2.0 0.0 X 0 0 0 1391760 0 207025 21 false true false Chartwells Dining Services 16100 W 127th Street LEMONT IL 60439 dining services 2438089 aramark services inc 51 s pearl st ste 17 ALBANY NY 12207 facilities mgmt 2298568 summit security services inc 390 Reckson Plaza west tower UNIONDALE NY 11556 contract security 482915 sunrise landscaping services inc 59 Concord Drive TAPPAN NY 10983 landscaping services 216775 Kaplowe Studios LLC 37 Wild Indigo Lane MANCHESTER NH 03109 Advertising 192647 19 133900 1633343 3343800 2226795 5111043 TUITION AND FEES 900099 49096411 49096411 ROOM AND BOARD (AUX ENTERPRISES) 611710 6148763 6141980 6783 55245174 244684 244684 0 74861 74861 93396 93396 0 93396 93396 0 3650 133900 35809 -32159 -32159 2950 2500 450 450 0 0 0 ATHLETICS CAMPS 900099 100565 100565 APPLICATION FEES 900099 25625 25625 PARKING AND MISC. 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EXPENSES 331472 331472 0 BAD DEBT EXPENSE 281440 281440 2062969 1758193 304776 58235958 50913518 6325178 997262 1570 1570 1327577 3432607 95680 127498 1790404 2258638 0 0 0 0 175137 120492 0 0 176882 200175 89634373 36246523 52567004 53387850 6407932 7451242 0 0 0 0 0 0 962164 978827 63504350 67958899 2083647 1939131 0 0 2013380 3065873 29190531 28025670 0 0 0 0 3464947 2262161 0 0 391728 3502140 37144233 38794975 X 23347146 25662702 3012971 3501222 26360117 29163924 63504350 67958899 2762051 41756 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 117600 117600 false FORM 990, SCHEDULE C, PART II-B, LINE 1(I) THE COLLEGE DOES NOT UNDERTAKE ANY DIRECT LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER IN SEVERAL HIGHER EDUCATION ASSOCIATIONS TO WHICH IT PAYS DUES. WHILE THE COLLEGE ACKNOWLEDGES THAT A PORTION OF ITS ANNUAL MEMBERSHIP DUES MAY BE RELATED TO NON-DEDUCTIBLE LOBBYING ACTIVITIES, NO ACCURATE QUANTIFICATION OF THAT AMOUNT HAS BEEN RECEIVED FROM THE RESPECTIVE INSTITUTIONS. THE COLLEGE DOES ENGAGE THE SERVICES OF A CONSULTING FIRM, EMPIRE STRATEGIES LTD, THAT UNDERTAKES CERTAIN ADVOCACY ENDEAVORS ON THE COLLEGE'S BEHALF. EMPIRE STRATEGIES LTD WAS PAID $117,600 (SEE PART IX, LINE 11(D)) TO PROVIDE LEGISLATIVE AND REGULATORY REPRESENTATION ON VARIOUS HIGHER EDUCATION ISSUES. 2226795 2280490 X true 6578259 472302 173730 7224291 5549764 688772 339723 6578259 4532819 763182 253763 5549764 4514705 138251 246161 366298 4532819 4416944 117455 -19694 4514705 0.58850 0.30100 0.11050 false false 4674432 4674432 68014358 23372527 44641831 13597095 12083365 1513730 3348488 790631 2557857 53387850 0 PPP LOAN PAYABLE 3150500 REFUNDABLE GRANTS 351640 3502140 X 43182896 41756 14732 38309 94797 43088099 17909910 17909910 60998009 40379089 14732 38309 53041 40326048 17909910 17909910 58235958 COLLECTIONS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS FORM 990, SCHedule D, PART III The College occasionally receives donations of artwork that it intends to use in fulfillment of its tax-exempt mission, either by displaying the artwork on campus for the enjoyment of its students, faculty and visitors, or for integration into the Colleges art curriculum. ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT IS INTENDED TO SUPPORT THE COLLEGE'S EDUCATIONAL MISSION, TO SUPPORT ITS STUDENT ACTIVITIES AND PROGRAMS AND TO PRESERVE AND FOSTER THE COLLEGE'S TRADITIONS. THE FUND'S PRINCIPAL IS INTENDED TO REMAIN UNTOUCHED, WHILE THE EARNINGS ARE DEDICATED TO THE CONTINUANCE AND ENHANCEMENT OF THE EDUCATION OF THE COLLEGE'S STUDENTS. INCOME TAXES FORM 990, SCHEDULE D, PART X 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 BE CHALLENGED. THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE COLLEGE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX- EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT WAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE COLLEGE HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART XI, Line 2d and 4b RECLASSIFICATION OF EVENT EXPENSES TO OFFSET REVENUE $38,309 RECLASSIFICATION OF SCHOLARSHIPS TO OFFSET REVENUE $17,909,910 RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XII, LINE 2D AND 4B RECLASSIFICATION OF EVENT EXPENSES TO OFFSET REVENUE $38,309 RECLASSIFICATION OF SCHOLARSHIPS TO OFFSET REVENUE $17,909,910 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 THE COLLEGE PUBLISHES ITS NONDISCRIMINATION POLICY IN SUFFICIENT MEDIA THAT WOULD ALLOW ANY MEMBER OF THE PUBLIC TO OBTAIN IT WITHOUT THE NEED FOR A SPECIFIC REQUEST. Schedule E, Part I, Line 6a THE COLLEGE RECEIVES STATE GRANTS FROM THE NEW YORK DEPARTMENT OF EDUCATION, THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK, AND FEDERAL GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THAT ARE EARMARKED TO BENEFIT CERTAIN ACADEMIC PROGRAMS OR CAPITAL PROJECTS. X true Sheer Strategy LLC 3 N CARINGOM ROAD NEW YORK NY 10956 grants application false 57550 57550 NY DINNER DANCE 54800 54800 2500 2710 3995 3379 GOLF OUTING 44130 40480 3650 20 410 1 38620 38620 6794 14654 1347 137550 133900 3650 2500 9504 18669 5136 35809 -32159 470 Western Highway Orangeburg NY 10962 SCHEDULE G, PART II DUE TO THE COVID-19 PANDEMIC, The college was required to cancel its regularly scheduled IN-PERSON dinner dance. ALL REVENUES RECEIVED FROM THIS EVENT are RECORDED AS CONTRIBUTIONS. In addition, the college INCURRED SOME NON-REIMBURSABLE COSTS FOR THESE EVENTS AND HAS ALLOCATED THEM ACCORDINGLY IN SCHEDULE G, PART II. true COLLEGE BASED SCHOLARSHIP 1150 17361252 FEDERAL GOVERNMENT BASED AID 336 376196 PRIVATE SCHOLARSHIP 96 172462 GRANTS AND ASSISTANCE IN THE UNITED STATES FORM 990, SCHEDULE I, PART I, LINE 2 THE AWARDING OF STUDENT FINANCIAL AID GRANTS UNDER THE U.S. DEPARTMENT OF EDUCATION'S STUDENT FINANCIAL ASSISTANCE PROGRAM IS MONITORED BY THE COLLEGE'S FINANCIAL AID OFFICE, WHICH ENSURES THAT THE COLLEGE MEETS THE COMPLIANCE REQUIREMENTS OF TITLE 2, US CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. THE COLLEGE'S FINANCIAL AID OFFICE IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING EFFECTIVE INTERNAL CONTROL OVER COMPLIANCE WITH THE REQUIREMENTS OF LAWS, REGULATIONS, CONTRACTS, AND GRANTS APPLICABLE TO FEDERAL PROGRAMS. MONITORING OF FEDERAL AND FOUNDATION GRANTS SUPPORTING COLLEGE OPERATING ACTIVITIES IS COORDINATED BETWEEN THE FINANCIAL AID OFFICE, THE CHANCELLOR'S OFFICE, THE CONTROLLER'S OFFICE AND THE VP OF INSTITUTIONAL ADVANCEMENT. THESE OFFICES AND INDIVIDUALS ENSURE THAT APPROPRIATE CONTROLS ARE ESTABLISHED AND THAT GRANT REQUIREMENTS FOR DOCUMENTATION, TRACKING, EXPENDITURE OF FUNDS AND REPORTING ARE MET. ALL STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, ATHLETIC ABILITY AND OTHER SIMILAR STANDARDS. X true true X X X false false false false false false false false false Sr Mary Eileen O'Brien OP President 263407 0 0 0 0 0 720 0 17618 0 281745 0 0 0 THOMAS NOWAK VP OF ACADEMIC AFFAIRS 148251 0 0 0 0 0 8838 0 17826 0 174915 0 0 0 ANTHONY J CIPOLLA VP FINANCIAL AFFAIRS 153837 0 0 0 0 0 9625 0 17826 0 181288 0 0 0 MICHAEL KELLY DIR OF GRADUATE STUDIES 154051 0 0 0 0 0 5770 0 17826 0 177647 0 0 0 BRIAN FERNANDES VP OF ENROLLMENT 139092 0 0 0 0 0 8823 0 17826 0 165741 0 0 0 RUSSELL DIAZ EXECUTIVE DIRECTOR OF IT 137660 0 0 0 0 0 7341 0 17826 0 162827 0 0 0 Joseph Valenti VP Institutional Advancement 147745 0 0 0 0 0 0 0 17826 0 165571 0 0 0 Schedule J SEVERAL OF THE COLLEGE'S OFFICERS ARE MEMBERS OF THE SISTERS OF ST. DOMINIC OF BLAUVELT AND RECEIVE FREE HOUSING (E.G. A HOUSING ALLOWANCE) PROVIDED BY THE COLLEGE. THE FAIR MARKET RENTAL VALUE OF THE HOUSING ALLOWANCE (APPROXIMATELY $15,200 PER OFFICER) IS EXCLUDED FROM THESE OFFICERS' SALARIES AS IT REPRESENTS A PERMISSIBLE NON-TAXABLE FRINGE BENEFIT UNDER SECTION 107 OF THE INTERNAL REVENUE CODE FOR MEMBERS OF A RELIGIOUS ORDER. A COUNTY OF ROCKLAND INDUSTRIAL DEVELOPMENT AGENCY 136007344 2013-07-24 8705000 reissued 2005 series A&B Bonds false false false B County of Rockland Industrial Development Author 136007344 773557AF0 2014-12-14 10653930 reissued 2004 Series A&B Bonds false false false C Rockland County Economic Assistance Corporation 274524167 773557AY9 2014-12-14 15632950 refund 2006 Series A&B Bonds false false false A 2183581 0 8705000 0 0 0 0 0 0 0 8705000 0 2013 true false true true B 2302210 0 10653930 0 0 0 0 0 0 0 10653930 0 2014 true false true true C 1981450 0 15632950 0 0 0 312659 0 0 0 15320291 0 2014 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false false false false true false 0 true RBC 17. false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true A true B true C true Form 990, Schedule K, Part IV, Line 2c DOMINICAN COLLEGE HAD A REBATE CALCULATION PERFORMED ON ALL THREE OF THE BONDS DISCLOSED IN THE SCHEDULE K OF THE FORM 990. FOR THE BOND ORIGINALLY ISSUED IN JUNE OF 2005 AND REFINANCED IN JULY OF 2013, THE REBATE COMPUTATION WAS PERFORMED ON JULY 23, 2018; FOR THE BONDS ISSUED IN AUGUST OF 2004 AND DECEMBER OF 2006 (BOTH OF WHICH WERE REFINANCED IN DECEMBER OF 2014), THE REBATE CALCULATION WAS PERFORMED ON DECEMBER 16, 2019. THE REBATE CALCULATION FOR THE 2005 BONDS CONFIRMED AN ARBITRAGE REBATE DUE OF $46,944. On September 17, 2018, the College remitted the $46,944 in rebate to the federal government. THE REBATE CALCULATIONS FOR THE 2004 AND 2014 BONDS CONFIRMED THAT NO REBATE WAS DUE ON THE BONDS. X 8 2226795 FMV false true false GENERAL EXPLANATORY STATEMENT REGARDING THE COVID-19 impact on the college In December 2019, an outbreak of a novel strain of Coronavirus ("covid-19") emerged globally, and in March 2020 the World Health Organization declared the spread of COVID-19 a worldwide pandemic. Keeping the health and safety of the community as its primary priority, the Colleges campus was closed in March 2020 and moved the remainder of the spring 2020 semester to virtual learning. Students received refunds and future statement credits for their unused housing and meal plans through the end of the semester, resulting in lost revenue of $518,627, which would have been included in Auxiliary Enterprises revenue, net on the statement of activities for the fiscal year ending June 30, 2020. The impact of the revenue loss was lessened by the expense reductions commensurate with activity on campus which included athletics, cancelled travel and events, lower programming and other operating expense constraints. As a response to the COVID-19 pandemic the U.S. federal government passed the Coronavirus Aid, Relief, and Economic Security Act ("Cares Act"). During fiscal 2020 the College was awarded a Higher Education Emergency Relief fund ("HEERF") grant totaling $1,807,795 under the CARES Act. A portion of the HEERF grant totaling $879,783 was disbursed to qualifying students for emergency aid and is recognized as governmental grant revenue on the fiscal 2020 statement of activities along with $69,770 recognized as grant revenue for institutional support. The balance of the grant awarded totaling $858,242 to support institutional expenses related to COVID-19 is recognized as deferred revenue on the accompanying fiscal 2020 statement of financial position as these funds will be used to support fiscal 2021 expenditures. These funds are subject to audit and compliance with federal regulations. The College believes it has met the conditions to retain these funds, and accordingly, no amounts are reserved for repayment at June 30, 2020 in the accompanying statement of financial position. On April 16, 2020 the College received loan proceeds in the amount of $3,150,500 under the Paycheck Protection Program. The College intends to use the proceeds for purposes consistent with the PPP and apply for forgiveness at the earliest opportunity. When the College is legally released from the debt, or forgiveness is granted, the extinguishment will be recognized into income at that time. Form 990, Part IV, Line 34 RELATED PARTIES DISCLOSURE THE COLLEGE WAS FOUNDED BY THE SISTERS OF ST. DOMINIC OF BLAUVELT IN 1952 AS A THREE-YEAR LIBERAL ARTS COLLEGE IN THE CATHOLIC TRADITION, OFFERING A TEACHER PREPARATION PROGRAM FOR WOMEN RELIGIOUS. THE COLLEGE DEEMS THE SISTERHOOD TO BE A RELATED PARTY OF THE COLLEGE, BUT SINCE THE SISTERS DO NOT MEET THE IRS DEFINITION OF A RELATED PARTY, THE COLLEGE HAS OPTED TO NOT COMPLETE A SCHEDULE R. IN THE INTERESTS OF FULL DISCLOSURE, THE COLLEGE IS INCLUDING THIS SCHEDULE O NARRATIVE TO DISCLOSE THE RELATIONSHIP. FORM 990, PART IV, SECTION A GOVERNING BODY AND MANAGEMENT THE COLLEGE IS REPORTING 32 BOARD MEMBERS, OF WHICH 30 ARE INDEPENDENT VOTING MEMBERS OF THE BOARD. THE TWO "COMPENSATED" BOARD MEMBERS ARE MEMBERS OF THE DOMINICAN SISTERS OF BLAUVELT WHO HAVE TAKEN A BONA FIDE VOW OF POVERTY. ALL AMOUNTS REPORTED IN PART VII AND SCHEDULE J OF THE 990 WERE PAID DIRECTLY TO THE ORDER. WHILE THE SISTERS COULD BE CONSIDERED INDEPENDENT UNDER THE IRS GUIDELINES; NEVERTHELESS, IN THE INTEREST OF FULL DISCLOSURE, THE COLLEGE IS REPORTING THEM BOTH AS NON-INDEPENDENT. FORM 990, PART VI, SECTION B POLICIES LINE 11 - PROCESS USED TO REVIEW FORM 990 THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FINAL DRAFT OF THE FORM 990. THE AUDIT COMMITTEE MAKES RECOMMENDATIONS ON CHANGES AS NECESSARY. THE COMMITTEE VOTES TO APPROVE THE FORM 990 AND ARRANGES TO HAVE THE APPROVED FORM 990 SENT TO EACH BOARD MEMBER FOR REVIEW AND COMMENTS. THE AUDIT COMMITTEE RESOLVES INQUIRIES FROM BOARD MEMBERS AFTER THEIR REVIEW. ONCE THE PROCESS IS COMPLETE, THE COLLEGE SUBMITS THE FORM 990 TO THE IRS. LINE 12 - ENFORCEMENT & MONITORING OF CONFLICT OF INTEREST POLICY THE COLLEGE REQUIRES ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES TO COMPLETE AN ANNUAL QUESTIONAIRE THAT REQUIRES THE INDIVIDUALS TO DISCLOSE ANY TRANSACTIONS THAT MAY POTENTIALLY RESULT IN A CONFLICT OF INTEREST. THESE ARE REVIEWED BY THE BOARD CHAIRMAN AND THE PRESIDENT OF THE COLLEGE. THE VP FOR FINANCIAL AFFAIRS COLLECTS THE KEY EMPLOYEE DISCLOSURE FORMS AND REVIEWS THEM WITH THE PRESIDENT OF THE COLLEGE. TO THE EXTENT THAT A CONFLICT OF INTEREST IS DISCOVERED, THE TRANSACTION IS VETTED IMMEDIATELY AND THE APPROPRIATE ACTION UNDERTAKEN. LINE 15 - PROCESS FOR DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE WHICH REVIEWS AND APPROVES ALL KEY EMPLOYEE ANNUAL COMPENSATION WITHOUT ANY CONFLICT OF INTEREST WITH RESPECT TO THAT COMPENSATION. THE COMMITTEE USED COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PEOPLE IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. THIS IS AN ANNUAL PROCESS WHERE CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATION AND DECISION REGARDING THE COMPENSATION ARRANGEMENT IS RECORDED. THE COMMITTEE UTILIZES DATA FROM CUPA-HR AS COMPARATIVE DATA FOR ANALYSIS. DOMINICAN COLLEGE COMMISSIONED ITS LAST COMPENSATION SURVEY IN MARCH OF 2019. FORM 990, PART VI, SECTION C DISCLOSURE LINE 19 - AVAILABILITY OF DOCUMENTS TO THE PUBLIC MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION.