2020-01-29T10:32:28-06:00 2019-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 125 BAYLIS ROAD SUITE 300 MELVILLE NY 11747 990 2018-07-01 112157078 DOWLING COLLEGE DOWL 2126580301 C/O RSR CONSULTING LLC 49 ROY AVE MASSAPEQUA NY 11758 ROBERT S ROSENFELD PLAN ADMINISTRATOR 2126580301 2020-01-29 1 ELLEN M LABITA CPA P00140777 6317527400 X 148.75.192.64 2020-01-29 07:56:50 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 45D50D8E3994CEF8BF8842BFE43A81B55B26F885 2018 2020-09-23 17:36:50Z ROBERT S ROSENFELD C/O RSR CONSULTING LLC 49 ROY AVE MASSAPEQUA NY 11758 17143341 0 X WWW.DOWLING.EDU X 1968 NY DOWLING COLLEGE WAS AN INDEPENDENT COMPREHENSIVE EDUCATIONAL INSTITUTION IN THE LIBERAL ARTS TRADITION WHOSE MISSION WAS TO PROVIDE OUR STUDENTS WITH A WELL-ROUNDED EDUCATION BASED UPON INNOVATIVE TEACHING, INFORMED AND ENGAGING RESEARCH, AND A COMMITMENT TO DEMOCRATIC CITIZENSHIP WITH A COMMUNITY SERVICE COMPONENT. WE FOSTERED AN OPEN AND SUPPORTIVE LEARNING ENVIRONMENT THAT WAS BASED UPON COLLABORATION BETWEEN A COMMITTED AND SUPPORTIVE EXPERT FACULTY AND A STUDENT BODY DIVERSE IN ITS INTERESTS, BELIEFS, CULTURE, ETHNICITY, AND GEOGRAPHIC ORIGIN. WE RECOGNIZED LEARNING AS A LIFETIME ENDEAVOR, PARTICULARLY AS IT RELATES TO GLOBALIZATION. THE COLLEGE UPHELD ITS EDUCATIONAL MISSION THROUGH TEACHING, LEARNING AND RESEARCH IN THE ARTS, SCIENCES AND PROFESSIONS SUCH AS EDUCATION, BUSINESS AND AVIATION, AND BY PROVIDING MEMBERS OF THE COMMUNITY AND DOWLING ALUMNI WITH OPPORTUNITIES FOR CONTINUING EDUCATION. 0 0 3 8 0 0 0 0 2040 0 10523741 -16399460 47480 1925985 10573261 -14473475 0 0 0 0 271779 2633899 0 0 0 4758154 5543171 5029933 8177070 5543328 -22650545 42518343 2231807 42000946 166645 517397 2065162 SEE SCHEDULE O 0 0 0 DOWLING COLLEGE CLOSED IN AUGUST 2016 AND IS IN THE PROCESS OF LIQUIDATION. THERE ARE CURRENTLY NO PROGRAMS BEING CONDUCTED. ON JANUARY 14, 2019, THE COLLEGE'S PLAN OF LIQUIDATION WAS CONFIRMED BY THE COURT AND WENT EFFECTIVE. AS A RESULT, THE COLLEGE IS IN DISSOLUTION PROCESS. 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 0 0 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 NY X ROBERT S ROSENFELD PLAN ADMINISTRATOR 2126580301 49 ROY AVE MASSAPEQUA NY 11758 MICHAEL PUORRO CHAIRMAN TO 1/14/19 2.00 0.00 X X 0 0 0 GERALD J CURTIN VICE CHAIRMAN TO 1/14/19 2.00 0.00 X X 0 0 0 PATRICIA M BLAKE TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 DENNIS O'DOHERTY TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 JACK O'CONNOR TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 JOSEPH K POSILLICO TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 RONALD PARR TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 JOHN RACANELLI TRUSTEE TO 1/14/19 2.00 0.00 X 0 0 0 ANNA DIMOLA HR/SECRETARY TO 10/4/18 40.00 0.00 X 45534 0 0 45534 0 0 0 0 0 0 RSR CONSULTING LLP 1330 AVENUE OF THE AMERICAS S23A NEW YORK NY 10017 RESTRUCTURING SERVICES 890020 KLESTADT & WINTERS LLP 200 W 41ST ST 17TH FL NEW YORK NY 10036 LEGAL 801859 SILVERMAN ACAMPORA LLP 100 JERICHO QUADRANGLE 300 JERICHO NY 117539494 LEGAL 313066 A&G REALTY PARTNERS LLC 445 BROADHOLLOW RD ST 410 MELVILLE NY 11747 REAL ESTATE 195000 ARROW SECURITY 300 W MAIN ST SMITHTOWN NY 11787 SECURITY 164991 6 207356 207356 15010000 31616816 -16606816 -16606816 -16606816 CANCELLATION OF DEBT 900099 1819398 1819398 UNCLAIMED FUNDS 900099 79756 79756 UTILITIES REFUND 900099 10935 10935 15896 15896 1925985 -14473475 0 0 -14473475 9515 9515 1233975 1233975 248935 248935 1141474 1141474 448821 448821 1199161 1199161 3900 3900 496930 496930 17182 17182 98528 98528 679023 679023 168736 168736 2279438 2279438 19693 19693 BAD DEBT & COLLECTION 37000 37000 RETAINER RESERVE 33520 33520 RECEIVABLE COLLECTION E 24827 24827 BOND AGENT ADMIN FEES 18000 18000 18412 18412 8177070 0 8177070 0 5972462 523949 92260 38213 1823158 72700 0 30593477 1642847 1668796 2321439 849 42518343 2231807 11495315 166645 17768449 10427634 2309548 0 42000946 166645 X 517397 2065162 517397 2065162 42518343 2231807 X -22650545 634592 23563718 X 0 0 0 X 1417828 25949 1443777 1402600 15228 1417828 2276271 7829 881500 1402600 2295235 7386 26350 2276271 2292291 7655 22742 27453 2295235 0.00000 0.83000 0.17000 0 0 0 PART V, LINE 4: PERMANENTLY RESTRICTED NET ASSETS REPRESENT ENDOWMENT CORPUS, WHICH PROVIDES INVESTMENT INCOME PRINCIPALLY FOR STUDENT SCHOLARSHIPS. TEMPORARILY RESTRICTED NET ASSETS WERE PRIMARILY USED FOR STUDENT SCHOLARSHIPS. THE COLLEGE IS IN THE PROCESS OF TRANSFERRING/DONATING ITS ENDOWMENT FUNDS TO OTHER SCHOOLS AND IS WORKING WITH THE NEW YORK STATE ATTORNEY GENERAL'S OFFICE TO COMPLY WITH ALL GUIDELINES. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL HAS BEEN CLOSED SINCE LATE SUMMER, 2016; NON-OPERATING ENTITY; NO CATALOG AND NO ADVERTISEMENTS. FORM 990, PART VI, SECTION A, LINE 1 THE DEBTOR'S PLAN OF LIQUIDATION WENT EFFECTIVE 1/14/19. IN ACCORDANCE WITH THE PLAN, APPROVED BY THE BANKRUPTCY COURT, THE BOARD WAS RELIEVED OF THEIR DUTIES. THERE IS NO BOARD AS OF 1/14/19; ONLY A PLAN ADMINISTRATOR. FORM 990, PART VI, SECTION A, LINE 3 SEE NOTE IN FORM 990, PART VI, SECTION B, LINE 11B FORM 990, PART VI, SECTION B, LINE 11B ON SEPTEMBER 21, 2018, THE DEBTOR FILED ITS PLAN OF LIQUIDATION (THE "PLAN") AND DISCLOSURE STATEMENT WITH THE COURT [DKT 604, 605]. ON DECEMBER 20, 2018 AN ORDER WAS ENTERED [DKT 662] CONFIRMING THE DEBTOR'S CHAPTER 11 PLAN OF LIQUIDATION. (THE "CONFIRMATION ORDER") ON JANUARY 14, 2019, THE DEBTOR FILED NOTICE WITH THE COURT, THAT PURSUANT TO THE CONFIRMATION ORDER, IT CERTIFIED AND GAVE NOTICE THAT THE PLAN BECAME EFFECTIVE IN ACCORDANCE WITH ITS TERMS AND THE EFFECTIVE DATE OCCURRED ON JANUARY 14, 2019 [DKT 671]. UPON THE EFFECTIVE DATE OF THE PLAN, THE OFFICERS OF THE COLLEGE AND THE COLLEGE'S BOARD OF TRUSTEES WERE RELIEVED OF THEIR DUTIES AND A PLAN ADMINISTRATOR WAS APPOINTED. MR. ROSENFELD, IN HIS CAPACITY AS PLAN ADMINISTRATOR WAS AUTHORIZED TO, AMONG OTHER DUTIES, OVERSEE THE FILING OF TAX RELATED FILINGS, AUDITS AND OTHER CORPORATE DISSOLUTION DOCUMENTS IF REQUIRED; AND HAVE AUTHORITY TO SIGN TAX RETURNS ON BEHALF OF THE DEBTOR AND BE RESPONSIBLE PARTY FOR SPEAKING WITH THE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C DOWLING COLLEGE REQUIRED ALL EMPLOYEES AND BOARD OF TRUSTEES TO COMPLETE ANNUALLY A CONFLICT OF INTEREST DISCLOSURE FORM WHICH WAS DESIGNED TO PROVIDE A MECHANISM TO INSURE THAT THE COLLEGE WAS AWARE OF ANY POTENTIAL CONFLICTS OF INTEREST AS WELL. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S 990 AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: TRANSFER TO CREDITORS TRUST 23,563,718. BANKRUPTCY STATEMENT ON NOVEMBER 29, 2016 (THE "PETITION DATE"), THE ENTITY FILED FOR PROTECTION FROM ITS CREDITORS UNDER CHAPTER 11, OF THE U.S. BANKRUPTCY CODE (CASE NO. 16-75545 (REG)) (THE "DEBTOR") IN THE EASTERN DISTRICT OF NEW YORK. THE DEBTOR HAS BEEN WINDING DOWN ITS OPERATIONS AND HAS SIGNIFICANTLY REDUCED ITS STAFF AND RESOURCES. AS A RESULT, MANY OF THE DEBTOR'S REPORTING AND ACCOUNTING FUNCTIONS HAVE BEEN SIGNIFICANTLY DISRUPTED AND DELAYED. ACCORDINGLY, THE DEBTOR HAS NOT RECEIVED OR FULLY ANALYZED ALL OF THE POTENTIAL SOURCES OF THE INFORMATION REQUIRED IN SUPPORT OF THE INFORMATION PROVIDED HEREIN. WHILE DEBTOR'S MANAGEMENT HAS MADE REASONABLE EFFORTS TO ENSURE THAT THE RETURN IS ACCURATE AND COMPLETE, BASED UPON INFORMATION THAT WAS AVAILABLE TO THEM AT THE TIME OF PREPARATION, SUBSEQUENT INFORMATION MAY RESULT IN MATERIAL CHANGES TO THE ENCLOSED INFORMATION. THE INFORMATION PROVIDED WAS INTENDED TO FULFILL THE DEBTOR'S OBLIGATION AND WE MAKE NO ASSERTION AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. MOREOVER, BECAUSE THE RETURN CONTAINS UNAUDITED INFORMATION, WHICH IS SUBJECT TO FURTHER REVIEW AND POTENTIAL ADJUSTMENT, THERE CAN BE NO ASSURANCE THAT THIS INFORMATION IS COMPLETE. THE DEBTOR RESERVES ALL RIGHTS TO AMEND THIS RETURN, AS MAY BE NECESSARY OR APPROPRIATE. SINCE THE DEBTOR IS CURRENTLY IN A BANKRUPTCY PROCEEDING, ALL AMOUNTS REPORTED ON THE RETURN ARE SUBJECT TO THE ULTIMATE REALIZATION OF ASSETS RECOVERED THROUGH THE LIQUIDATION PROCESS AND LIABILITIES AUTHORIZED TO BE PAID PURSUANT TO THE ORDER OF THE COURT AND SUFFICIENT FUNDS RECOVERED FOR THE BANKRUPTCY ESTATE.