2019-05-10T15:36:41-07:00 2018-06-30 990 2017-07-01 111797182 MOLLOY COLLEGE MOLL 5163233000 1000 Hempstead Avenue PO Box 5002 Rockville Centre NY 115715002 Susan D Williams VP for Finance & Treasurer 5163233033 2019-05-10 69.74.141.230 2017 2019-02-21 02:37:17Z Drew Bogner 1000 Hempstead Avenue Rockville Centre NY 11571 170104844 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. 30 29 2129 130 794334 -175950 4519351 6273617 134496586 137148933 1000443 1959637 1496389 1598438 141512769 146980625 24496836 25554052 0 0 73897571 76522278 0 0 1749027 36047115 34429866 134441522 136506196 7071247 10474429 196560799 207462613 98184952 102954600 98375847 104508013 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 113776338 25554052 137176071 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 113776338 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 1 407 0 1 2129 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 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 532849 0 76870 Msgr Francis J Caldwell Chairperson 1 0 X X 0 0 0 John P McEntee Vice Chairperson 1 0 X X 0 0 0 Theresa P Ahlstrom Trustee 1 0 X 0 0 0 Susan Santoro Bevilacqua Trustee 1 0 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 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 William K Lloyd 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 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 A McGovern Vice President Finance and Treasurer 35 0 X 247531 0 44111 Diane K Fornieri Secretary 35 0 X 121303 0 33434 Edward J Thompson Vice President Office of Advancement 35 0 X 242395 0 53720 Ann Branchini Vice President Academic Affairs 35 0 X 242700 0 21849 Linda Albanese Vice President Enrollment Management 35 0 X 202508 0 20231 Michael Torres Vice President Office of Technology 35 0 X 170098 0 46272 Barbara Schmidt Assistant Vice President Academic Affairs 35 0 X 203849 0 19064 Audrey Cohan Acting Dean Natural Sciences 35 0 X 206412 0 10199 Veronica D Feeg Associate Dean and Director of PhD Program 35 0 X 186964 0 35705 A Nicholas Fargnoli Dean of Humanities 35 0 X 185162 0 25486 Kathleen Maurer Smith Associate Dean Graduate Affairs 35 0 X 172119 0 36990 Jeannine D Muldoon Dean of Nursing (through 10/1/17) 35 0 X 169518 0 20242 Valerie Collins Former Vice President Academic Affairs (through 5/31/16) 0 0 X 193776 0 30411 3077184 0 474584 219 1 1 0 Austin & Williams 125 Kennedy Suite 100 Hauppauge NY 117884015 Media Services 1891091 JL Media Inc 1600 Route 22 Union NJ 07083 Advertising 740067 Cutlass Industries Inc 193 Horton Avenue Lynbrook NY 11563 Renovations 623236 Bryant AC Contractors Inc 420B Wyandanch Avenue N Babylon NY 11704 Construction 523658 Chartwells PO Box 417632 Boston MA 02241 Food Service 375123 18 0 0 361662 0 4350685 1561270 25421 6273617 Student Tuition and Fees 900099 133356556 133356556 0 0 Auxiliary Services Revenue 611710 3792377 3792377 0 0 0 0 0 0 137148933 1100052 0 0 1100052 0 0 0 0 0 0 0 0 173263 0 0 0 173263 0 173263 0 146515 26748 23627432 0 22767847 0 859585 0 859585 0 0 859585 533951 361662 347431 186520 0 186520 81328 8941 72387 0 0 72387 Theatre Ticket Sales 900099 656792 27138 629654 0 Madison Theatre Summer Camp 900099 124893 0 0 124893 Forfeited Deposits 900099 92000 0 0 92000 292583 0 18165 274418 1166268 146980625 137176071 794334 2736603 0 0 25554052 25554052 0 0 0 0 2121989 385565 1483815 252609 159631 0 159631 0 54952318 47744097 6564409 643812 3378776 2935574 403617 39585 11828300 10276755 1412967 138578 4081264 3545916 487533 47815 0 0 0 0 357668 0 357668 0 159243 0 159243 0 0 0 0 0 0 0 439285 0 439285 0 798178 50762 643102 104314 2289917 0 2289917 0 1267829 1023340 213737 30752 1595989 528125 1054722 13142 2886810 2722563 146192 18055 179598 152871 21166 5561 0 0 0 0 1608296 1478658 116814 12824 3065274 2864498 151425 49351 0 0 0 0 6729310 6288540 401550 39220 1392168 548040 844128 0 Contracted Services 1524269 1119408 366033 38828 Graduation and Special Events 1391939 940943 338296 112700 Bad Debt Expense 795711 0 795711 0 Testing Expenses 656616 656616 0 0 7291766 4960015 2129870 201881 136506196 113776338 20980831 1749027 6144437 9011650 26517207 34234718 1635226 1486952 1710615 1839094 0 0 0 0 3229861 3382289 0 0 1114822 993515 178532829 66984543 113905054 111548286 31380727 32022228 5725549 7338649 0 0 0 0 5197301 5605232 196560799 207462613 11086916 10792411 1811191 2100274 3033097 3225644 76309392 79996787 1782544 2001352 0 0 0 0 221331 166752 3940481 4671380 98184952 102954600 X 87422456 93563996 5770403 5619856 5182988 5324161 98375847 104508013 196560799 207462613 X 10474429 734680 0 0 0 -5076943 X 0 1 1 1 1 X 0 0 0 0 0 0 0 0 1 35 35 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 270240 0 0 X 0 0 1 X 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 29745681 273393 3330343 130086 708088 0 32511243 0.84 0.14 0.02 0 0 0 3273630 3273630 0 136649250 37476932 99172318 0 4903396 2878031 2025365 0 32070780 26629580 5441200 0 1635773 0 1635773 111548286 0 Conditional Asset Retirement Obligation 2299037 Bond Interest Payable 1813350 Deferred Rent 558993 4671380 X 122078340 734680 0 0 0 734680 121343660 439285 25197680 25636965 146980625 115946174 0 0 0 5076943 5076943 110869231 439285 25197680 25636965 136506196 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 $2,001,352 in student credit balances at June 30, 2018. 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 consists of approximately 104 individual funds. 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 otherwise 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 $25,554,052 is shown as an expense on Form 990 Part IX but is netted against revenues in the financial statements. Fundraising expenses totaling $347,431 and gaming expenses totaling $8,941 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 2d Loss on refinancing of Series 2009 bonds. Schedule D, Part XII, Line 4b Institutional aid totaling $25,554,052 is shown as an expense on Form 990 Part IX but is netted against revenues in the financial statements. Fundraising expenses totaling $347,431 and gaming expenses totaling $8,941 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 through the Student Financial Assistance Cluster. Central America and the Caribbean 0 0 Investments 3875253 0 0 3875253 1 0 1 0 1 0 Schedule F, Part I, Line 2 The College invests in domestic and foreign limited partnerships that may own an interest in a foreign corporation or foreign partnership. To the extent that those investments resulted in transfers that exceeded the applicable filing thresholds, the Forms 926, 5471 and 8865 accompanied the filing of the College's Form 990-T. Annual Gala 299275 96125 203150 0 1341 0 56931 12500 40232 Golf Outing 419738 139692 280046 0 10275 149424 0 0 18407 1 176600 125845 50755 0 3421 53954 0 0 1462 895613 361662 533951 0 15037 203378 56931 12500 60101 347947 186004 0 0 0 0 0 0 0 0 0 0 0 0 81328 0 8941 0 0 0 81328 0 8941 0 0 8941 72387 NY 1 0 1 0 0.99 0.01 Susan Williams 1000 Hempstead Avenue Rockville Centre NY 11571 0 Edward Thompson 0 See Schedule G, Part IV, Statement 1 X 0 0 Schedule G, Part III, Line 16 The College does not employee a gaming manager. The individual listed is the Vice President of Advancement and is responsible for the fundraising component of revenues, along with the Director of Athletics, who raises funds for the athletics department. 1 Institutional aid and scholarships 2736 25554052 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 students eligibility is verified through federal, state, and institutional requirements, matriculation, registration, attendance, and academic progress; 4) grants and awards are processed into 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) 393741 0 70000 0 69108 0 56950 0 19920 0 609719 0 0 0 Michael A McGovern Vice President Finance and Treasurer 246295 0 0 0 1236 0 24463 0 19648 0 291642 0 0 0 Diane K Fornieri Secretary 120823 0 0 0 480 0 13062 0 20372 0 154737 0 0 0 Edward J Thompson Vice President Office of Advancement 236606 0 0 0 5789 0 23959 0 29761 0 296115 0 0 0 Ann Branchini Vice President Academic Affairs 241512 0 0 0 1188 0 21849 0 0 0 264549 0 0 0 Linda Albanese Vice President Enrollment Management 201221 0 0 0 1287 0 20231 0 0 0 222739 0 0 0 Michael Torres Vice President Office of Technology 169924 0 0 0 174 0 16512 0 29761 0 216371 0 0 0 Valerie Collins Former Vice President Academic Affairs (through 5/31/16) 191490 0 0 0 2286 0 19718 0 10692 0 224186 0 0 0 Barbara Schmidt Assistant Vice President Academic Affairs 202661 0 0 0 1188 0 6308 0 12756 0 222913 0 0 0 Veronica D Feeg Associate Dean and Director of PhD Program 186618 0 0 0 346 0 15743 0 19963 0 222670 0 0 0 Audrey Cohan Acting Dean Natural Sciences 206067 0 0 0 346 0 10199 0 0 0 216612 0 0 0 A Nicholas Fargnoli Dean of Humanities 184717 0 0 0 445 0 15249 0 10238 0 210649 0 0 0 Kathleen Maurer Smith Associate Dean Graduate Affairs 171532 0 0 0 586 0 14920 0 22069 0 209107 0 0 0 Jeannine D Muldoon Dean of Nursing (through 10/1/17) 169505 0 0 0 12 0 11105 0 9138 0 189760 0 0 0 Schedule J, Part I, Line 1a The President of the College is permitted certain perquisites by virtue of his 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 President's housing allowance is a taxable benefit and is included in the President's "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 $100,000 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 A 0 0 32574808 1300864 1480180 0 481260 0 0 30378282 0 0 2016 0 0 1 1 B 0 0 49942142 0 0 0 697145 0 0 0 48923275 0 2017 0 1 1 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 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, 2016 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, no rebate was due. X 3 25421 Market value at 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 review the details of the Form 990 with the Fiscal Affairs and Audit Committee of the Board of Trustees to obtain approval of the Committee prior to filing the return. Additionally, the Form 990 was reviewed by the College's independent auditors prior to review by the Fiscal Affairs and Audit Committee. The results of these reviews, along with a copy of the completed Form 990, are reported to the full Board prior to the time of issuance, at which time, any areas of concern had been highlighted and discussed. 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. Increases in salaries and benefits that are in excess of that approved by the Board a part of the budget process, are presented to the Executive Committee of the Board for consideration and approval. Form 990, Part VI, Section C, Line 19 The College does not post its financial statements on a website. Copies are made available upon request. The Form 990 tax return is posted on Guidestar and is made available in the College's Finance office. Bylaws and other governing documents are maintained on the premises and available upon request. Form 990, Part XI, Line 9 Loss on refinancing of Series 2009 bonds.