2020-05-20T10:02:06-07:00 2019-06-30 990 2018-07-01 111797182 MOLLOY COLLEGE MOLL 5163233000 1000 Hempstead Avenue PO Box 5002 Rockville Centre NY 115715002 Susan D Williams VP for Finance & Treasurer 5163233033 2020-05-13 68.196.177.205 2018 2020-09-23 17:36:50Z Drew Bogner 1000 Hempstead Avenue Rockville Centre NY 11570 221758633 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. 29 28 2093 130 750113 -272073 6273617 4449809 137148933 142092404 1959637 727658 1598438 1882121 146980625 149151992 25554052 28130822 0 0 76522278 79804345 0 0 1786682 34429866 34818341 136506196 142753508 10474429 6398484 207462613 234976367 102954600 121290040 104508013 113686327 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 118189741 28130822 142092404 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 99 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 118189741 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 1 446 0 1 2093 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY 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 548367 0 97863 John P McEntee Chairperson 1 0 X X 0 0 0 Theresa P Ahlstrom Vice Chairperson 1 0 X X 0 0 0 Rose L Ciampa Trustee 1 0 X 0 0 0 Salvatore P Ciampo Trustee 1 0 X 0 0 0 Michael Comerford 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 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 S Anne Marie Kirmse Trustee 1 0 X 0 0 0 Brendan Lavelle Trustee 1 0 X 0 0 0 Sr Margaret Mayce OP Trustee 1 0 X 0 0 0 S Mary Pat Neylon Trustee 1 0 X 0 0 0 Len Peters Trustee 1 0 X 0 0 0 Kenneth J Pritchard Trustee 1 0 X 0 0 0 James S Rowen 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 Marianne Dolan Weber Trustee 1 0 X 0 0 0 John Westerman Trustee 1 0 X 0 0 0 Phillipa G Woodriffe Trustee 1 0 X 0 0 0 Michael McGovern Vice President Finance and Treasurer (through 9/7/2018) 35 0 X 252376 0 46101 Susan Williams Vice President Finance and Treasurer (as of 9/7/2018) 35 0 X 74108 0 6660 Diane K Fornieri Secretary 35 0 X 133337 0 35605 Edward J Thompson Vice President Office of Advancement 35 0 X 253595 0 57651 Ann Branchini Vice President Academic Affairs 35 0 X 303228 0 22344 Linda Albanese Vice President Enrollment Management 35 0 X 208479 0 20547 Michael Torres Vice President Office of Technology 35 1 X 188204 0 40738 Janine Payton Vice President Student Affairs 35 0 X 158682 0 24045 Marcia Gardner Dean of Nursing 35 0 X 223370 0 19084 Barbara Schmidt Assistant Vice President Academic Affairs 35 0 X 207145 0 31448 Veronica D Feeg Associate Dean and Director of PhD Program 35 0 X 196022 0 37876 Kathleen Maurer Smith Associate Dean Graduate Affairs 35 0 X 179442 0 37940 Maureen Mackenzie Dean of Business 35 0 X 188704 0 27247 3115059 0 505149 140 0 1 0 Axis Construction Corp 125 Laser Court Hauppauge NY 11788 Construction 2978418 Austin & Williams 80 Arkay Drive Suite 220 Hauppauge NY 117884015 Media Services 1784036 Cutlass Industries Inc 193 Horton Avenue Lynbrook NY 11563 Renovations 1134143 Spillman Farmer Shoemaker Pell Whildin PC 1720 Spillman Drive Suite 200 Bethlehem PA 18015 Architects 378294 JL Media inc 1600 Route 22 Union NJ 07083 Advertising 301744 18 0 0 438705 0 1992897 2018207 0 4449809 Student Tuition and Fees 900099 138205438 138205438 0 0 Auxiliary Service 611710 3886966 3886966 0 0 0 0 0 0 142092404 1347203 0 0 1347203 0 0 0 0 5244 0 0 5244 299689 0 0 0 299689 0 299689 0 0 299689 71724349 0 72343894 0 -619545 0 -619545 0 0 -619545 445915 438705 251568 194347 0 194347 79329 11179 68150 0 0 68150 Bad Debt Recoveries 900099 89407 0 0 89407 Madison Theatre Tuition 900099 131855 0 0 131855 Theatre Ticket Sales 900099 736457 0 736457 0 356972 0 13656 343316 1314691 149151992 142092404 750113 1859666 0 0 28130822 28130822 0 0 0 0 2315388 379481 1675889 260018 56776841 48650857 7466747 659237 0 0 0 0 3378650 2895092 444328 39230 13162051 11278279 1730947 152825 4171415 3574396 548585 48434 0 0 0 0 348189 0 348189 0 134488 0 134488 0 40 0 40 0 0 0 378188 0 378188 0 697722 82356 527055 88311 2502024 0 2502024 0 1289383 1065693 203310 20380 1669755 509043 1152322 8390 0 0 0 0 3109171 2915112 176831 17228 1224018 1068854 133304 21860 0 0 0 0 455626 331926 120406 3294 2927887 2756313 138489 33085 0 0 0 0 6379734 6005882 347755 26097 1403112 470628 932484 0 Contracted Services 2061875 1402107 574353 85415 Graduation and Events 1500295 1007981 354969 137345 Testing Expense 688030 688030 0 0 Bad Debt 577268 0 577268 0 7471536 4976889 2309114 185533 142753508 118189741 22777085 1786682 9011650 15198520 34234718 32627681 1486952 1773538 1839094 1968678 0 0 0 0 3382289 3093822 0 0 993515 1015928 200252885 73154432 111548286 127098453 32022228 33303831 7338649 8873857 0 0 0 0 5605232 10022059 207462613 234976367 10792411 14460943 2100274 2016904 3225644 3600306 79996787 93326483 2001352 2401454 0 0 0 0 166752 60774 4671380 5423176 102954600 121290040 X 93563996 103480525 5619856 4705054 5324161 5500748 104508013 113686327 207462613 234976367 6398484 2779830 0 0 0 0 X 0 1 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 40 40 0 Schedule C, Part II-B, Line 1 Molloy College is a dues paying member of NACUBO and EACUBO. Amount reported represents the College's allocable share of lobbying expense. 0 309245 0 0 X 0 0 1 X 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 32511243 177920 941758 100613 162557 0 33367751 0.85 0.13 0.02 0 0 0 3273630 3273630 0 140981178 41625459 99355719 0 5172960 3120291 2052669 0 33623924 28408682 5215242 0 17201193 0 17201193 127098453 0 Bond Interest Payable 2308758 Conditional Asset Retirement Obligation 1990287 Deferred Rent 1124131 5423176 X 123685559 2779830 0 0 0 2779830 120905729 378188 27868075 28246263 149151992 114507245 0 0 0 0 0 114507245 378188 27868075 28246263 142753508 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 $2,401,454 in student credit balances at June 30, 2019. 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 be 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 positions. 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 $28,130,822 is shown as an expense on Form 990 Part IX but is netted against revenue in the financial statements.Fundraising expenses totaling $251,568 and gaming expenses totaling $11,179 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 4b Institutional aid totaling $28,130,822 is shown as an expense on Form 990 Part IX but is netted against revenue in the financial statements.Fundraising expenses totaling $251,568 and gaming expenses totaling $11,179 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 primarily through the Student Financial Assistance Cluster. Central America and the Caribbean 0 0 Investments 4300862 0 0 4300862 1 0 1 0 1 0 Annual Gala 713520 336045 377475 0 1555 0 64784 36679 82819 Energeia Golf 171100 102660 68440 0 6788 55549 0 0 3394 0 884620 438705 445915 0 8343 55549 64784 36679 86213 251568 194347 0 0 0 0 0 0 0 0 0 0 0 0 79329 0 11179 0 0 0 79329 0 11179 0 0 11179 68150 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 2810 28130822 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 X 0 1 0 0 0 0 0 0 0 Drew Bogner President (ex officio voting member of Board) 413094 0 70000 0 65273 0 76608 0 21255 0 646230 0 0 0 Michael McGovern Former Vice President Finance and Treasurer (through 9/7/2018) 252376 0 0 0 0 0 24846 0 21255 0 298477 0 0 0 Diane K Fornieri Secretary 133337 0 0 0 0 0 14333 0 21272 0 168942 0 0 0 Edward J Thompson Vice President Office of Advancement 248220 0 0 0 5375 0 26043 0 31608 0 311246 0 0 0 Ann Branchini Vice President Academic Affairs 249382 0 0 0 53846 0 22344 0 0 0 325572 0 0 0 Linda Albanese Vice President Enrollment Management 206404 0 0 0 2075 0 20547 0 0 0 229026 0 0 0 Michael Torres Vice President Office of Technology 188204 0 0 0 0 0 9129 0 31608 0 228941 0 0 0 Janine Payton Vice President Student Affairs 158529 0 0 0 153 0 14364 0 9681 0 182727 0 0 0 Marcia Gardner Dean of Nursing 213370 0 0 0 10000 0 19084 0 0 0 242454 0 0 0 Barbara Schmidt Assistant Vice President Academic Affairs 207145 0 0 0 0 0 20547 0 10900 0 238592 0 0 0 Veronica D Feeg Associate Dean and Director of PhD Program 196022 0 0 0 0 0 16619 0 21257 0 233898 0 0 0 Kathleen Maurer Smith Associate Dean Graduate Affairs 179442 0 0 0 0 0 16176 0 21764 0 217382 0 0 0 Maureen Mackenzie Dean of Business 188704 0 0 0 0 0 13677 0 13571 0 215952 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 and reimbursement for social club dues incurred in the course of conducting College business. The Vice President of Academic Affairs is also entitled to a housing allowance based on the contract. Both the President's and Vice President of Academic Affairs housing allowance are a taxable benefit and is included in "other reportable compensation" column (b)(iii) in Schedule J. The President uses 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 of the College is a participant in a Section 457(f) plan and received employer funded contributions. The College funded $125,000 for the 457(f). The 457(f) contribution is deferred until the contract terms are met. 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 0 0 32574808 1312111 1480180 0 481260 0 0 30378282 0 0 2016 0 0 1 1 B 0 0 49942142 2236970 0 0 697145 0 0 0 48923275 0 2017 0 1 1 1 C 0 0 16104560 3957111 527083 0 395615 0 0 11363160 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. Schedule K, Part IV, Line 2c-07/01/2017 49,942,142 Town of Hempstead Local Development Corporation Pursuant to the five year arbitrage rules, the rebate calculation is not required at this time. X 1 50157 Market Value at the date of donation 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 Fiscal Affairs and Audit 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 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 posts 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.