2019-05-15T12:25:51-07:00 2018-06-30 990 2017-07-01 141338587 Vassar College VASS 8454377000 124 Raymond Ave Box 12 Poughkeepsie NY 12604 Angelique Crump Controller 8454375890 2019-05-15 143.229.24.212 2017 2019-02-21 02:37:17Z Elizabeth Howe Bradley 124 Raymond Avenue Box 1 Poughkeepie NY 12604 469441179 0 X www.vassar.edu X 1861 NY The mission of Vassar College is to make accessible "the means of a thorough, well-proportioned and liberal education" that inspires each individual to lead a purposeful life. The College makes possible an education that promotes analytical, informed, and independent thinking and sound judgment; encourages articulate expression; and nurtures intellectual curiosity, creativity, respectful debate and engaged citizenship. Vassar supports a high standard of engagement in teaching and learning, scholarship and artistic endeavor; a broad and deep curriculum; and a residential campus that fosters a learning community. Founded in 1861 to provide women an education equal to that once available only to men, Vassar is now open to all and strives to pursue diversity, inclusion, and equity as essential components of a rich intellectual and cultural environment in which all members, including those from underrepresented and marginalized groups, are valued and empowered to thrive. 36 35 3517 4311 258565 -193667 46665533 69404890 162086569 168810535 98888254 38293453 3788031 3341584 311428387 279850462 64495780 70738695 0 0 115336011 116611262 59204 12553 10451258 78542912 86369486 258433907 273731996 52994480 6118466 1563329555 1615709260 346633559 334892477 1216695996 1280816783 The mission of Vassar College is to make accessible "the means of a thorough, well-proportioned and liberal education" that inspires each individual to lead a purposeful life. The College makes possible an education that promotes analytical, informed, and independent thinking and sound judgment; encourages articulate expression; and nurtures intellectual curiosity, creativity, respectful debate and engaged citizenship. Vassar supports a high standard of engagement in teaching and learning, scholarship and artistic endeavor; a broad and deep curriculum; and a residential campus that fosters a learning community. Founded in 1861 to provide women an education equal to that once available only to men, Vassar is now open to all and strives to pursue diversity, inclusion, and equity as essential components of a rich intellectual and cultural environment in which all members, including those from underrepresented and marginalized groups, are valued and empowered to thrive. 0 0 153096528 70639124 166452583 Instruction - Vassar students choose among 30 departments, 6 interdisciplinary programs, 11 multidisciplinary programs, 51 majors, and approximately 1,000 courses to chart a rigorous course of study that explores their most compelling interests. 25873190 0 0 Academic Services - Advising and support services to provide guidance to our students to help them accomplish their goals. The mission of the academic services division is to ensure and to strengthen their fulfilling experience as a Vassar student. 21589146 0 0 Student Services - As a residential college, Vassar is committed to providing support services to help students make the most of their time at Vassar. The Office of the Dean of the College oversees and coordinates services that directly impact the quality of student life, both academic and non-academic. 23213120 99571 4630616 Other program services include research expenditures, general program overhead costs, and auxiliary enterprise revenue and expenditures. 23213120 99571 4630616 223771984 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 3452 0 3517 1 1 1 1 EI IT SP UK 0 0 0 0 0 0 0 0 X 36 35 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CO MA MI MN NH NJ SC WA X Angelique Crump Controller 8454375890 124 Raymond Ave Box 12 Poughkeepsie NY 12604 Karen Herskovitz Ackman Trustee and Committee Chair 4 X 0 0 0 Eric Beringause Trustee 2 X 0 0 0 Jamshed J Bharucha Trustee and Committee Chair 4 X 0 0 0 Jason Blum Trustee 2 X 0 0 0 Beth Burnam Trustee 2 X 0 0 0 Mark Burstein Trustee and Committee Chair 4 X 0 0 0 Camilla Campbell Trustee 2 X 0 0 0 Sharon Chang Trustee 2 X 0 0 0 Barbara Danz Trustee 2 X 0 0 0 Linda Fairstein Trustee 2 X 0 0 0 Richard Feitler Trustee and Committee Chair 4 X 0 0 0 Robyn Field Trustee 2 X 0 0 0 Anthony J Friscia Trustee and Committee Chair 4 X 0 0 0 Jeffrey A Goldstein Trustee and Committee Chair 4 X 0 0 0 Lorna Bade Goodman Trustee and Committee Chair 4 X 0 0 0 Heather Stuart Haaga Trustee 2 X 0 0 0 Stephen Hankins Trustee 2 X 0 0 0 Maryellen Cattani Herringer Trustee and Committee Chair 4 X 0 0 0 Huang Hung Trustee 2 X 0 0 0 Leslie Jackson Chihuly Trustee 2 X 0 0 0 Philip Jefferson Trustee 2 X 0 0 0 Henry P Johnson Trustee and Committee Chair 4 X 0 0 0 Lisa Kudrow Trustee 2 X 0 0 0 Tanya Odom Trustee 2 X 0 0 0 Geraldine Bond Laybourne Trustee 2 X 0 0 0 Susan Zadek Mandel Trustee and Committee Chair 4 X 0 0 0 Carol S Ostrow Trustee and Committee Chair 4 X 0 0 0 Tamar Smith Pichette Trustee 2 X 0 0 0 William A Plapinger Trustee and Committee Chair 10 X 0 0 0 Kathy Putnam Trustee 2 X 0 0 0 Eve Slater Trustee 2 X 0 0 0 Karen Strain Smythe Trustee 2 X 0 0 0 Milbrey Rennie Taylor Trustee 2 X 0 0 0 Debra Beth Fagel Treyz Trustee 2 X 0 0 0 Christianna Wood Trustee and Committee Chair 4 X 0 0 0 Elizabeth Howe Bradley - July 1 President and Trustee 40 0 X X 230713 0 120782 Catherine Baer VP for Alumnae Affairs and Dev 40 0 X 298964 0 60524 Marianne Begemann Dean of Str Plan and Acad Res 40 0 X 209381 0 68403 Michael Cato VP for Comp and Info Svcs 40 0 X 191444 0 67546 Jonathan Chenette - Through June 30 Interim Pres and Trustee 40 0 X 376154 0 110300 Angelique Crump Controller 40 0 X 154157 0 29816 Stephen Dahnert VP for Fin and Admin 40 0 X 287848 0 109036 Susan Dekrey - Through October 10 VP for Communications 40 0 X 210991 0 42596 Wesley Dixon - October 23 Secretary of the Board 40 0 X 13751 0 992 Stephen R Rock - Through June 30 Acting Dean of the Faculty 40 0 X 173977 0 57727 Christopher Roellke Dean of the College 40 0 X 190852 0 152932 Christopher Smart - Through June 30 Secretary of the Board 40 0 X 128364 0 28599 Robert DeMaria Professor of English 40 0 X 192695 0 52881 Susan Donahue Kuretsky Professor of Art 40 0 X 190741 0 39059 James H Merrell Professor of History 40 0 X 204182 0 59893 Art D Rodriguez Dean of Admission and Financial Aid 40 0 X 201349 0 58193 Paul A Ruud Professor of Economics 40 0 X 212456 0 39078 3468019 0 1098357 212 0 1 0 Compass Group USA PO Box 417632 Boston MA 02241 Food Service 6316778 Daniel O'Connell's Sons 480 Hampden Street Holyoke MA 01040 Construction Services 1541251 Hall Capital Partners LLC One Maritime Plz 5th Fl Suite 500 San Francisco CA 94111 Investment Advisor 1509916 Kittredge Equipment Company 100 Bowles Road Agawam MA 01001 Construction Services 986187 Clark Companies PO Box 427 41155 State Highway 10 Delhi NY 13753 Construction Services 908780 47 68749 0 0 0 2012378 67323763 10381876 69404890 Tuition and Fees 611310 137083170 137083170 0 0 Room and Board 611310 29369413 29369413 0 0 Other Program Revenue 611310 2357952 2357952 0 0 0 0 0 0 168810535 11670971 0 -586302 12257273 0 0 0 0 0 0 0 0 1744332 0 675412 0 1068920 0 1068920 0 11167 1057753 214025038 784159 187144440 1042275 26880598 -258116 26622482 0 833700 25788782 0 0 0 0 0 0 0 0 0 0 0 0 1269856 728590 541266 541266 0 0 Auxiliary Revenue 900099 1367420 1367420 0 0 Commission Revenue 900099 363978 363978 0 0 0 0 0 0 1731398 279850462 171083199 258565 39103808 99571 99571 69904324 69904324 734800 734800 3481996 2069035 880815 532146 78078356 62462685 11711753 3903918 6639974 5477978 829997 331999 22483379 18548788 2810422 1124169 5927557 4742045 889134 296378 738448 738448 341526 341526 12553 12553 8431076 8431076 3773391 2264034 188670 1320687 69749 50219 3488 16042 8219275 5017470 2812052 389753 3367537 3366777 637 123 17849 13965 3884 7542225 4676180 2790623 75422 3363173 2085167 369949 908057 2347907 772653 641660 933594 11239627 11238326 1171 130 21642352 17185218 4011421 445713 875041 229991 527496 117554 Food Service 5210488 3907866 1302622 0 JYA Programs 5041820 5041820 0 0 Library Materials 1741880 1741880 0 0 Memberships 641956 518084 104779 19093 1764166 1623108 117131 23927 273731996 223771984 39508754 10451258 7866001 10505068 70298409 63367093 23337992 17586800 938769 280819 0 0 0 0 3145551 2943879 998275 926120 4717916 2719330 850685052 371081144 488413611 479603908 496842845 522460516 458082707 506461109 0 0 0 0 8687479 8854618 1563329555 1615709260 26677804 20519897 0 0 4232430 3307163 247818526 247811790 0 0 0 0 0 0 0 0 67904799 63253627 346633559 334892477 X 325763289 314703854 518091431 542064107 372841276 424048822 1216695996 1280816783 1563329555 1615709260 X 6118466 51461086 0 0 0 6541235 X 0 1 X 1 1 1 X 31344793 34360332 22110693 46665533 69404890 203886241 0 0 0 0 0 0 0 0 0 0 0 0 31344793 34360332 22110693 46665533 69404890 203886241 42038580 161847661 14230630 11493826 8354039 8255164 13415303 55748962 0 0 0 0 0 0 4332842 5133331 5679665 3693371 3001254 21840463 281475666 791762870 0.57500 0.67230 X Schedule A, Part II, Line 10 Other income includes revenue from the sale of inventory and other miscellaneous revenue. 0 0 0 0 0 0 0 0 1 0 0 0 Schedule C, Part II-B, Line 1 The College pays membership dues to several organizations which may engage in lobbying activities on behalf of their members. X 1 1 0 0 0 1 0 12 0 0 1796140 60923157 0 0 X X X X X Instruction 1 1002570163 53805270 79893167 15247251 38190026 0 1082831323 928816580 21058823 103319519 14723622 35901137 0 1002570163 982974375 14043302 -17092070 13494424 37614603 0 928816580 974179926 23752988 22039331 13110055 23887815 0 982974375 868744442 33637551 123797933 12014840 39985160 0 974179926 0.1448 0.3668 0.4884 1 0 539843 1586030 2125873 4158380 577371694 210963834 370566240 0 2619863 0 2619863 0 93127112 81225619 11901493 0 171282130 78891691 92390439 479603908 Hedge Funds 265968715 F Real Estate, Oil, and Gas 78529609 F Marketable Real Estate 3540799 F Venture Capital 158421986 F 506461109 0 Refundable Government Loan Funds 2430076 Present Value of Beneficiary Payments 12121049 Deposits Held for Others 1189735 Accrued Pension Obligation 11781465 Asset Retirement Obligation 11592534 Accrued Post Retirement Benefit Obligation 24138768 63253627 X 252947927 51461086 0 0 728590 52189676 200758251 8431076 70661135 79092211 279850462 188827140 0 0 0 -5881394 -5881394 194708534 8431076 70592386 79023462 273731996 Schedule D, Part II, Line 9 The College's conservation easement has no attributed value and is not recorded in the financial statements. Schedule D, Part III, Line 4 The College's Frances Lehman Loeb Art Center maintains collections of paintings, sculptures, prints, photographs and ceramics for use by faculty and students as a complement to the curriculum in a variety of instructional disciplines. Schedule D, Part V, Line 4 The College's Endowment Funds are maintained according to donor restrictions and earnings are used to support scholarships and a variety of programs including instruction, research, and academic support. Schedule D, Part X, Line 2 The College generally does not provide for income taxes since it is a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. U.S. GAAP permits an organization to recognize the benefit and requires accrual of an uncertain tax position only when the position is "more likely than not" to be sustained in the event of examination by tax authorities. Tax positions deemed to meet the "more likely than not" threshold are recorded as a tax expense in the current year. The College has analyzed all open tax years and believes it has no significant uncertain tax positions. Schedule D, Part XI, Line 2d Cost of Goods Sold 728,590 Schedule D, Part XI, Line 4b Scholarships 70,592,386 and Grants and Other Assistance to US Organizations 68,749; Total 70,661,135 Schedule D, Part XII, Line 2d Cost of Goods Sold - Computer Store and College Store 728,590; Adjustment to Minimum Pension Liability (3,298,721); Post Retirement Benefit Changes Other Than Net Periodic Costs (3,311,263): Total $(5,881,394) Schedule D, Part XII, Line 4b Scholarships 70,592,386 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Vassar College publicizes its non-discriminatory policy via brochures mailed to all Vassar College potential students as well as on the College's website. Schedule E, Part I, Line 6 Vassar College participates in the U.S. Department of Education Title IV Aid Programs and regularly receives awards for research from several federal agencies. The College also receives funding from New York State's Bundy Program. 1 Central America and the Caribbean 0 0 Investments Investments 210979584 Europe (including Iceland and Greenland) 5 5 Program Services Academic Instruction 792754 Europe (including Iceland and Greenland) 0 0 Grantmaking Scholarships 686463 Russia and the newly independent States 1 1 Program Services Academic Instruction 235971 Russia and the newly independent States 0 0 Grantmaking Scholarships 48337 6 6 212743109 Scholarships Europe (including Iceland and Greenland) 32 686463 Check or Wire Fair Market Value Scholarships Russia and the newly independent States 4 48337 Check or Wire Fair Market Value 1 0 1 1 1 1 Schedule F, Part I, Line 2 Students who are awarded scholarships have funds credited to their account and use is restricted to purposes related to enrollment in a program of study. Schedule F, Part I, Line 3 Expenses are accounted for using the accrual method of accounting and investments are accounted for using the fair market value. 1 Grace Smith House 1 Brookside Avenue Poughkeepsie NY 12601 141626657 501(C)(3) 8679 domestic violence shelter 1 0 Fellowships with required periodic written reports of activities to the College. 117 748043 Scholarships restricted to purposes related to enrollment in a program of study. 1539 69109543 Scholarships related to enrollment in nursery school and other aid 12 46738 Schedule I, Part I, Line 2 Vassar College raises funds for, and makes contributions to, a wide variety of 501(C)(3) organizations in the greater Poughkeepsie area. These organizations are selected annually by a committee of employees and students after review of their activities and mission. Employees and students also volunteer time at each organization. Funds are collected annually from the gifts of employees, students, trustees, and friends of Vassar as part of the "Community Works" campaign. Vassar also makes small contributions to other local non-profit and governmental entities who are not part of the campaign. Schedule I, Part III Students who are awarded scholarships have funds credited to their account and the use is restricted to purposes related to enrollment in a program of study. Recipients of fellowships are required to submit periodic written reports of their activities to the College. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Elizabeth Howe Bradley - July 1 President and Trustee 230584 0 0 0 129 0 28200 0 92582 0 351495 0 0 0 Catherine Baer VP for Alumnae Affairs and Dev 297776 0 0 0 1188 0 36590 0 23934 0 359488 0 0 0 Marianne Begemann Dean of Str Plan and Acad Res 207793 0 0 0 1588 0 25088 0 43315 0 277784 0 0 0 Michael Cato VP for Comp and Info Svcs 191264 0 0 0 180 0 24846 0 42700 0 258990 0 0 0 Jonathan Chenette - Through June 30 Interim Pres and Trustee 342422 0 0 0 33732 0 36000 0 74300 0 486454 0 0 0 Angelique Crump Controller 147034 0 0 0 7122 0 17175 0 12641 0 183972 0 0 0 Stephen Dahnert VP for Fin and Admin 287074 0 0 0 774 0 35734 0 73302 0 396884 0 0 0 Susan Dekrey - Through October 10 VP for Communications 154731 0 0 0 56260 0 19037 0 23559 0 253587 0 0 0 Wesley Dixon - October 23 Secretary of the Board 13751 0 0 0 0 0 0 0 992 0 14743 0 0 0 Stephen R Rock - Through June 30 Acting Dean of the Faculty 171683 0 0 0 2294 0 22378 0 35350 0 231705 0 0 0 Christopher Roellke Dean of the College 190438 0 0 0 414 0 25467 0 127465 0 343784 0 0 0 Christopher Smart - Through June 30 Secretary of the Board 126851 0 0 0 1513 0 15547 0 13052 0 156963 0 0 0 Robert DeMaria Professor of English 187392 0 0 0 5303 0 23945 0 28936 0 245576 0 0 0 Susan Donahue Kuretsky Professor of Art 186802 0 0 0 3939 0 23097 0 15962 0 229800 0 0 0 James H Merrell Professor of History 202994 0 0 0 1188 0 25776 0 34117 0 264075 0 0 0 Art D Rodriguez Dean of Admission and Financial Aid 201169 0 0 0 180 0 25398 0 32794 0 259541 0 0 0 Paul A Ruud Professor of Economics 206093 0 0 0 6363 0 25145 0 13933 0 251534 0 0 0 Schedule J, Part I, Line 1a On campus housing is provided for the President, Dean of Faculty, and the Dean of the College as a condition of employment and for the convenience of the College. In addition, housekeeping service is also provided for the President. The estimated value of this housing and housekeeping service is included in Part II, column D. Annual dues for clubs are paid by the College and provided to the President for the benefit of the College. Dues paid according to contract are treated as imputed income and are included in Part II, column B III. Schedule J, Part I, Line 3 Vassar participates in a third party data collection process with 25 peer colleges. We submit data annually to a professional compensation analyst, who summarizes the data as a range with quartiles. The report is provided to the Personnel and Compensation Committee of the Board of Trustees, who will use this information to determine raises for all Senior Officers and reports their findings through the President and the Vice President for Finance and Administration. Committee records are maintained by the Secretary of the Board of Trustees for the permanent files of the Board. We believe that our policy meets the requirements of the rebuttable presumption. A Dormitory Authority of the State of NY 2010 146000293 649905YS9 2010-04-29 50593000 Capital Improvements 0 0 0 B Dutchess County Local Development Corporation 273106797 267045DC3 2013-06-06 87968505 Capital Improvements 0 0 0 C Dutchess County Local Development Corporation 2017 273106797 267045JY9 2017-04-25 112120227 Refund Issue Dated 4/18/2007 0 0 0 A 0 0 51488350 0 3021832 0 485944 0 0 47489073 491501 0 2012 0 0 1 1 B 0 0 88047452 0 2180072 0 663134 0 1967 84964879 239914 0 2016 0 0 1 1 C 0 0 112120277 0 0 0 1032568 0 0 0 111087709 0 2017 1 0 1 1 A 0 0 1 1 1 1 0.001 0 0.001 0 0 1 B 0 0 1 1 1 1 0 0 0 0 0 1 C 0 0 1 1 1 1 0.002 0 0.002 0 0 1 A 0 0 0 1 0 0 0 1 1 B 0 0 0 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 Schedule K, Part II, Line 3-04/29/2010 50,593,000 Dormitory Authority of the State of NY 2010 The total proceeds exceed the issue price due to investment earnings on the project fund. Schedule K, Part II, Line 3-06/06/2013 87,968,505 Dutchess County Local Development Corporation The total proceeds exceed the issue price due to investment earnings on the project fund. Schedule K, Part II, Line 11-04/29/2010 50,593,000 Dormitory Authority of the State of NY 2010 The other spent proceeds are the proceeds used to pay the New York State issuer fee. Schedule K, Part II, Line 11-06/06/2013 87,968,505 Dutchess County Local Development Corporation The other spent are the proceeds used to pay the New York State issuer fee. Schedule K, Part II, Line 11-04/25/2017 112,120,227 Dutchess County Local Development Corporation 20 The other spent proceeds are the refunding proceeds that are no longer in escrow. Schedule K, Part IV, Line 2c-04/29/2010 50,593,000 Dormitory Authority of the State of NY 2010 An arbitrage calculation was completed on 04/29/2015. Schedule K, Part IV, Line 2c-06/06/2013 87,968,505 Dutchess County Local Development Corporation An arbitrage calculation was completed on 06/06/2018. X 28 1683850 Independent Appraisals X 103790 Independent Appraisals X 8500 Independent Appraisal X 199 8585736 Fair Market Value 13 0 1 1 Schedule M, Part I, Line 32b Gifts of securities are received by registered brokers and sold on behalf of Vassar College. Proceeds from sales are deposited into the College bank accounts. Form 990, Part VI, Section A, Line 7b Under a shared governance model, the Board delegates responsibility, with accountability, of certain matters, to the faculty, students, the alumnae and alumni of the College. Form 990, Part VI, Section B, Line 11b The Board of Trustees delegates the responsibility for oversight of the preparation of form 990 to the Audit Committee which reviews the entire form 990 as a draft prior to the completion of the review by the College's certified public accountant. The final version, excluding Schedule B, is provided to all members of the Board of Trustees prior to submission. Form 990, Part VI, Section B, Line 12c Vassar College issues conflict of interest questionnaires to officers, directors, trustees and other members of the faculty and administration with significant budgetary responsibilities. Once the completed forms are submitted to the Secretary of the Board and reviewed by the Vice President for Finance and Administration, the Chair of the Board, and the Chair of the Audit Committee, the College responds to any disclosures with appropriate action including requiring persons to recuse themselves from involvement with any decisions for which the relationship would represent an actual or potential conflict of interest. Form 990, Part VI, Section B, Line 15 Vassar participates in a third party data collection process with 25 peer colleges. We submit data annually to a professional compensation analyst, who summarizes the data as a range with quartiles. The report is provided to the Personnel and Compensation Committee of the Board of Trustees, who will use this information to determine raises for all Senior Officers and reports their findings through the President and the Vice President for Finance and Administration. Committee records are maintained by the Secretary of the Board of Trustees for the permanent files of the Board. We believe that our policy meets the requirements of the rebuttable presumption. Form 990, Part VI, Section C, Line 19 Vassar publishes its governance in print and online, the conflict of interest is published online, and annual audited financial statements are available online and in print form by request. Form 990, Part XI, Line 9 Post Retirement Benefits Changes Other Than Net Periodic Benefits Cost 3,311,263; Adjustment for Minimum Pension Liability 3,298,721; Grants and Other Assistance to Us Organizations (68,749); Total Other Changes In Net Assets 6,541,235. College Properties LLC 124 Raymond Avenue Box 655 Poughkeepsie NY 12604 141817534 Realty Investment NY -128841 3852884 VASSAR COLLEGE POOLED INCOME FUNDS (3) 124 RAYMOND AVENUE POUGHKEEPSIE NY 12604 INVESTMENT SUPPORT NY N/A T 1 1 CHARITABLE REMAINDER UNITRUSTS (12) 124 RAYMOND AVENUE POUGHKEEPSIE NY 12604 INVESTMENT SUPPORT NY N/A T 1 1 CHARITABLE REMAINDER ANNUITY TRUST (2) 124 RAYMOND AVENUE POUGHKEEPSIE NY 12604 INVESTMENT SUPPORT NY N/A T 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CHARITABLE REMAINDER UNITRUSTS (12) s 455664 Fair Market Value POOLED INCOME FUNDS (3) s 663572 Fair Market Value