2019-07-10T08:27:25-05:00 2018-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2017-09-01 110461385 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY VAUG 7184296600 8601 23RD AVENUE EAST ELMHURST NY 11369 ROBERT G WALDMANN VP FINANCE & BUSINESS SERVICES 7184296600 2019-07-08 1 ROBERT R LYONS CPA P00227472 2125038800 69.74.165.34 2019-07-08 10:03:38 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C9F00FD95E436BC684235A774996A9E8B56183B1 2017 2019-02-21 02:37:17Z SHARON DEVIVO 8601 23RD AVENUE EAST ELMHURST NY 11369 43545140 0 X WWW.VAUGHN.EDU X 1932 NY TO CHANGE THE WORLD ONE STUDENT AT A TIME WITH A TRANSFORMATIONAL EDUCATION THAT CREATES A LIFETIME OF OPPORTUNITY. 14 13 501 13 0 10180 3047244 4366939 34631329 35213784 1770758 1421759 125661 339147 39574992 41341629 4404816 4254938 0 0 16628451 16919848 0 0 431807 21238250 21665510 42271517 42840296 -2696525 -1498667 113245540 111097987 71051510 69135416 42194030 41962571 TO PROVIDE A DYNAMIC LEARNING ENVIRONMENT BUILT ON OUR AERONAUTICAL HERITAGE THAT INSPIRES A DIVERSE AND COMMITTED COMMUNITY OF STUDENTS TO ACHIEVE SUCCESS AS LEADERS IN THE INDUSTRIES WE SERVE. 0 0 27851399 4254938 32907275 INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSTITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,500 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS. 3094600 2306509 AUXILIARY SERVICES - VAUGHN OPERATES A 200 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2017/2018 APPROXIMATELY 161 STUDENTS WERE LIVING IN THE RESIDENCE HALL. 30945999 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 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 2354 0 1 501 1 1 1 0 0 0 0 1 1 0 0 0 0 X 14 13 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT G WALDMANN 7184296600 86-01 23RD AVENUE FLUSHING NY 11369 ANNE CRUDGE TRUSTEE (OUTGOING) 1.00 X 0 0 0 CLYDE R KIZER TRUSTEE (OUTGOING) 1.00 X 0 0 0 DOUGLAS IZARRA TRUSTEE 1.00 X 0 0 0 DR AGAM N SINHA TRUSTEE 1.00 X 0 0 0 DR SHARON DEVIVO PRESIDENT 40.00 X X 367351 0 52284 FRANK L ROSENBERG TRUSTEE 1.00 X 0 0 0 GEN CRAIG R MCKINLEY TRUSTEE 1.00 X 0 0 0 GEN MONROE W HATCH JR TRUSTEE (OUTGOING) 1.00 X 0 0 0 GEORGE A VAUGHN TRUSTEE (OUTGOING) 1.00 X 0 0 0 JOHN H ENDERS TRUSTEE (OUTGOING) 1.00 X 0 0 0 JOSEPH A WERNER TRUSTEE 1.00 X 0 0 0 KATHERINE B POSNER VICE CHAIR 1.00 X X 0 0 0 KEN STAUFFER SECRETARY 1.00 X X 0 0 0 LYSA C SCULLY TRUSTEE 1.00 X 0 0 0 MARY WARD-CALLAN TRUSTEE 1.00 X 0 0 0 OSWIN MOORE TRUSTEE 1.00 X 0 0 0 PETER A VAUGHN TRUSTEE 1.00 X 0 0 0 THOMAS I APPERSON TREASURER 1.00 X X 0 0 0 THOMAS J MCKEE CHAIR 1.00 X X 0 0 0 THOMAS S MAROTTA TRUSTEE (OUTGOING) 1.00 X 0 0 0 DOMENIC PROSCIA VP TRAINING 40.00 X 149583 0 25956 ERNEST SHEPELSKY VP ENROLLMENT MGT. 40.00 X 213683 0 46090 PAUL LAVERGNE VP ACADEMIC AFFAIRS 40.00 X 163614 0 55697 ROBERT G WALDMANN VP FIN. & BUSS. SERV. 40.00 X 241759 0 36281 BEATRIZ NOVOA-CRUZ ASSOCIATE VP OF ENROLLMENT 40.00 X 133458 0 38026 BHASKHARAN JADONATH PROFESSOR 40.00 X 137937 0 20230 HUSSEIN RAHEMI PROFESSOR 40.00 X 178744 0 34430 JOSEPH ZYCH PROFESSOR 40.00 X 143627 0 34333 MAXINE LUBNER PROFESSOR 40.00 X 137482 0 21181 1867238 0 364508 24 0 1 0 EGC GROUP 1175 WALT WHITMAN RD SU200 MELVILLE NY 11747 ADVERTISING 1335115 HERITAGE FLIGHT ACADEMY ISLIP MACARTHUR AIRPORT 2075 SMITHT RONKONKOMA NY 11779 FLIGHT TRAINING 625954 AVIATION CAFE CORP 86-01 23RD AVE FLUSHING NY 11369 FOOD 619842 LABOR MANAGEMENT CONCEPTS INC 200 BELLEVILLE TURNPIKE N ARLINGTON NJ 07301 SECURITY 569197 UNITED UNLIMITED INC 44-10 39TH AVENUE ASTORIA NY 11103 CLEANING 457155 18 214545 3115392 1037002 811019 4366939 STUDENT TUITION & FEES 611710 32907275 32907275 AUXILIARY REVENUE 900099 2306509 2306509 35213784 423736 423736 3116910 2118887 998023 998023 998023 52920 214545 84624 -31704 -31704 MISCELLANEOUS 900099 370851 370851 370851 41341629 35213784 0 1760906 4254938 4254938 1435782 1037185 384162 14435 12185383 8820710 3260357 104316 754937 545336 201993 7608 1593887 1151359 426465 16063 949859 686139 254147 9573 122526 122526 66910 66910 3129237 2150757 910511 67969 1836307 1310805 491328 34174 738248 534937 197528 5783 14214 10411 3803 1668844 1222323 446521 428333 306202 114606 7525 87012 62836 23281 895 3362308 2462679 899629 3826026 2802323 1023703 287585 210638 76947 MISCELLANEOUS 2921373 2518243 389749 13381 BAD DEBT 1800000 0 1800000 0 COLLEGE RELATIONS 1376587 858178 368324 150085 42840296 30945999 11462490 431807 886001 218618 4021828 4056147 657820 411751 4570940 4866215 394996 467445 133270023 62645775 74126895 70624248 28587060 30453563 113245540 111097987 2778928 2471658 2483674 2197457 53473932 52467335 11822610 11591714 492366 407252 71051510 69135416 X 12114871 13206243 29913820 28505378 165339 250950 42194030 41962571 113245540 111097987 X -1498667 1278388 -11180 X X 0 1 X 1 1 1 X 0 3753071 85611 310785 36641 4112826 3476593 310953 34475 3753071 3379258 500 142801 45966 3476593 3498762 500 -76392 43612 3379258 3059491 8000 479602 48331 3498762 0.06100 0.93900 0 0 5407437 5407437 103817761 38996750 64821011 23649025 23649025 0 395800 395800 70624248 ALTERNATIVE INVESTMENTS 24374193 F AMOUNTS HELD BY BOND TRUSTEE 6079370 F 30453563 ASSET RETIREMENT OBLIGATION 114000 CAPITAL LEASE OBLIGATION 293252 407252 X 38443959 1278388 78880 1357268 37086691 4254938 4254938 41341629 38675418 78880 11180 90060 38585358 4254938 4254938 42840296 PART V, LINE 4: TO PROVIDE FUNDS FOR STUDENT SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2018 AND 2017 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 4,254,938. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON-DEDUCTIBLE TRANSPORTATION AND PARKING BENEFITS 11,180. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS 4,254,938. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CATALOG SCHEDULE E, PART I, LINE 6 VAUGHN COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM AND FEDERAL WORK STUDY (FWS) PROGRAM. GALA 267465 214545 52920 84624 267465 214545 52920 84624 84624 -31704 1 SCHOLARSHIPS 1273 4254938 FMV TUITION ASSISTANCE PART I, LINE 2: THE COLLEGE OFFERS SEVERAL SCHOLARSHIP OPPORTUNITIES FOR STUDENTS. THE PRIMARY SCHOLARSHIPS AND THE GUIDELINES FOR QUALIFYING ARE: FOUNDERS SCHOLARSHIPS - THESE SCHOLARSHIPS ARE AWARDED TO STUDENTS UPON ACCEPTANCE TO A BACHELOR OF SCIENCE DEGREE PROGRAM AT VAUGHN. TO BE CONSIDERED, APPLICANTS MUST ATTAIN A CUMULATIVE HIGH SCHOOL AVERAGE OF AT LEAST A "B AND A COMBINED SAT1 SCORE OF AT LEAST 1000. STUDENTS WHO MEET THESE MINIMUM CRITERIAS WILL BE CONSIDERED FOR AWARDS, BASED ON THEIR GRADES AND EXAM SCORES, BY VAUGHN COLLEGE'S SCHOLARSHIP COMMITTEE. THE AWARDS MAY BE RENEWABLE FOR UP TO FOUR YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GRADE POINT AVERAGE (GPA). BOARD OF TRUSTEES, #14 AND #36 GRANTS - THESE GRANTS ALLOCATE FUNDS TO BE USED IN AWARDING GRANT-IN-AID ASSISTANCE TO NEW AND CONTINUING STUDENTS. GRANTS ARE AWARDED TO STUDENTS WHO ARE MATRICULATING ON A FULL OR PART-TIME BASIS IN BACHELOR AND ASSOCIATE DEGREE PROGRAMS. RECIPIENTS ARE SELECTED ON THE BASIS OF THEIR ACADEMIC PERFORMANCE AND FINANCIAL AID STATUS. AWARDS ARE DESIGNATED FOR A SPECIFIC ACADEMIC YEAR AND ARE RENEWABLE EACH SEMESTER BASED ON SATISFACTORY ACADEMIC PERFORMANCE AND THE AVAILABILITY OF FUNDS. TRANSFER STUDENT SCHOLARSHIP - STUDENTS WHO TRANSFER TO THE COLLEGE HAVING COMPLETED 24 OR MORE CREDITS AT AN ACCREDITED COLLEGE OR UNIVERSITY, AND WHO HAVE ACHIEVED A CUMULATIVE GRADE POINT AVERAGE OF AT LEAST 3.0 (INCLUDING ALL COURSES AT EVERY INSTITUTION ATTENDED) MAY BE AWARDED SCHOLARSHIPS TO TRANSFER. THE AWARDS MAY BE RENEWABLE FOR UP TO THREE YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GPA. ACADEMIC EXCELLENCE SCHOLARSHIPS - ACADEMIC EXCELLENCE SCHOLARSHIPS ARE AWARDED EACH YEAR TO CONTINUING STUDENTS ON THE BASIS OF OUTSTANDING ACADEMIC ACHIEVEMENT AND SELECTION FOR ACADEMIC HONORS. THE CRITERIA APPLIED IN DECIDING ELIGIBILITY FOR THESE AWARDS INCLUDE CUMULATIVE GPA AND SATISFACTORY COMPLETION OF AT LEAST TWO SEMESTERS (29 CREDITS/UNITS OR MORE) AS A MATRICULATED STUDENT. X X X X X 0 0 0 0 0 0 0 0 0 DR SHARON DEVIVO PRESIDENT 361912 0 0 0 5439 0 9432 0 42852 0 419635 0 0 0 DOMENIC PROSCIA VP TRAINING 145116 0 0 0 4467 0 0 0 25956 0 175539 0 0 0 ERNEST SHEPELSKY VP ENROLLMENT MGT. 209040 0 0 0 4643 0 0 0 46090 0 259773 0 0 0 PAUL LAVERGNE VP ACADEMIC AFFAIRS 163350 0 0 0 264 0 0 0 55697 0 219311 0 0 0 ROBERT G WALDMANN VP FIN. & BUSS. SERV. 236137 0 0 0 5622 0 0 0 36281 0 278040 0 0 0 BEATRIZ NOVOA-CRUZ ASSOCIATE VP OF ENROLLMENT 133458 0 0 0 0 0 0 0 38026 0 171484 0 0 0 BHASKHARAN JADONATH PROFESSOR 137937 0 0 0 0 0 0 0 20230 0 158167 0 0 0 HUSSEIN RAHEMI PROFESSOR 178744 0 0 0 0 0 0 0 34430 0 213174 0 0 0 JOSEPH ZYCH PROFESSOR 143627 0 0 0 0 0 0 0 34333 0 177960 0 0 0 MAXINE LUBNER PROFESSOR 137482 0 0 0 0 0 0 0 21181 0 158663 0 0 0 A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64990CLH2 2016-12-15 54803179 SEE PART VI 0 0 0 A 960000 54826586 3947243 1047475 19322036 29837673 672159 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 1 0 0 0 0 0 1 A 1 PART I, LINE A, COLUMN (F) ACQUIRE & RENOVATE FACILITY. REFUND PRIOR ISSUE (12/14/16) PART II, LINE 3 THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS/MARKET VALUE FLUCTUATIONS. X HELICOPTER ENGINE & AIR CYCLE 3 787701 FMV X AIRPLANE TICKETS 9 20100 COST X EMPLOYEE APPRECIATION DAYS 27 2487 COST X EXPENSE 1 731 COST 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 2 PETER VAUGHN IS THE NEPHEW OF GEORGE A. VAUGHN. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEES REVIEW THE 990 IN DETAIL. ONCE FORMALLY APPROVED THE 990 IS THEN FILED. FORM 990, PART VI, SECTION B, LINE 12C IN FEBRUARY 2017, AN UPDATED BOARD OF TRUSTEES - CONFLICT OF INTEREST POLICY AND PROCEDURE WAS ADOPTED. THE POLICY AND PROCEDURE INCLUDES AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH MUST BE COMPLETED, SIGNED AND SUBMITTED BY EACH BOARD MEMBER EVERY YEAR IN MAY. THE PRESIDENT'S SECRETARY CONFIRMS RECEIPT OF THE STATEMENTS AND KEEPS THEM ON FILE. IN JULY 2009, AN OFFICERS AND MANAGEMENT STAFF CONFLICT OF INTEREST POLICY AND PROCEDURES WAS ADOPTED. THE POLICY AND PROCEDURE ALSO INCLUDES A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS COMPLETED, SIGNED AND SUBMITTED ON AN ANNUAL BASIS. THE ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES AND COLLEGE SERVICES CONFIRMS RECEIPT, REVIEWS THE FORMS AND KEEPS THEM ON FILE. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE WITH STAFF ASSISTANCE FROM THE COLLEGE'S EXTERNAL LEGAL COUNSEL. COUNSEL USES THE FOLLOWING COMPENSATION FACTORS AND SOURCES TO ASSIST THE COMMITTEE IN ITS DECISION MAKING PROCESS: COMPENSATION FACTORS - A. COMPENSATION LEVELS PAID BY SIMILAR ORGANIZATIONS B. LEVEL OF PERSON'S EDUCATION AND EXPERIENCE C. SPECIFIC RESPONSIBILITIES OF POSITION D. PREVIOUS SALARY OR COMPENSATION PACKAGE E. SIMILAR SERVICES IN THE SAME GEOGRAPHIC OR METROPOLITAN AREA F. SIMILAR NUMBER OF STUDENTS G. ANNUAL BUDGET AND/OR GROSS REVENUE/ASSETS H. NATURE OF CURRICULUM (E.G., 2 YEAR VS. 4 YEAR UNDERGRADUATE VS. GRADUATE) COMPENSATION SOURCES - A. PUBLISHED SURVEYS OF COMPENSATION AT SIMILAR INSTITUTIONS B. INTERNET RESEARCH ON COMPENSATION AT SIMILAR INSTITUTIONS C. FORMS 990 FILED BY OTHER COLLEGES AND UNIVERSITIES D. ANNUAL BUDGET OR GROSS REVENUE/ASSETS LINE 15B: THE PRESIDENT SETS THE COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. SHE USES SIMILAR COMPENSATION FACTORS AND SOURCES AS LISTED IN 15A AND ADVISES THE COMPENSATION COMMITTEE OF HER DECISIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION KEEPS A COPY OF ITS IRS FORM 990 IN ITS LIBRARY FOR EXAMINATION BY THE PUBLIC. A SUMMARY OF ITS KEY FINANCIAL RESULTS IS PRINTED IN ITS MAGAZINE - ANNUAL REPORT EDITION. FORM 990, PART XI, LINE 9: NON-DEDUCTIBLE TRANSPORTATION AND PARKING BENEFITS -11,180. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.