2018-04-17T14:31:31-05:00 2017-05-31 141555429 UHY Advisors NY Inc 4 Tower Place Executive Park 7th Floor Albany NY 12203 990 2016-06-01 141338562 Skidmore College SKID 5185805000 815 North Broadway Saratoga Springs NY 12866 KYLE M BERNARD CPA Director of Financial Services 5185805820 2018-04-11 1 XIAOQIANG ZHANG P01577994 5184493166 2018-04-10 209.99.101.4 2018-04-11 12:24:26 ED P AC6CA1EDC091D5C9736CEA6B8C8803227CBCB296 AC6CA1EDC091D5C9736CEA6B8C8803227CBCB296 2016 2021-01-29 14:40:06Z PHILIP A GLOTZBACH 815 North Broadway Saratoga Springs NY 12866 214819137 0 X www.skidmore.edu X 1903 NY Higher Education 31 30 3365 3895 191707 0 34937086 25608869 168240799 176130352 25950703 12758090 57566 196449 229186154 214693760 41985018 43764037 0 0 62559385 98552311 0 0 5823136 59406312 62518411 163950715 204834759 65235439 9859001 694126941 742455807 148280195 147694177 545846746 594761630 X The education of predominantly full-time undergraduates, a diverse population of talented students who are eager to engage actively in the learning process. The college seeks to prepare liberally educated graduates to continue their quest for knowledge and to make the choices required of informed, responsible citizens. Skidmore faculty and staff create a challenging yet supportive environment that cultivates students' intellectual and personal excellence, encouraging them to expand their expectations of themselves while they enrich their academic understanding. 0 0 46996671 138561571 Instruction and Research: Includes all expenses for all activities that are a part of the College's Instructional program. The College provides liberal arts education to approximately 2650 students and maintains a student to faculty ratio of approximately 8:1. 43739037 43739037 19145 Student Aid: Includes expenses for scholarships in the form of grants to students, resulting from selection by the institution from a needs-based program. Currently, approximately 48% of Skidmore students are receiving scholarships, grants, loans, and/or work awards which are offered singly or in various combinations. 25174126 0 Institutional Support: Includes expenses for central administrative level activities concerned with management of the entire institution. Organizational units include fiscal operations, planning and budgeting, human resources, purchasing, campus safety, information technology, etc. 52664292 25000 34772445 Higher Education: Other: Includes Student Services, Academic Support and other Auxiliary Enterprises. Student Services includes expenses for organizational units that provide support to students. These units include Health Services, Counseling Center, Athletics, Interfaith Programs, etc. Academic Support includes all expenses for all activities that are part of the College's academic mission. Auxiliary Enterprises includes expenses for organizational units that exist to furnish goods or services to students, faculty and staff, and that charge a fee directly related to the cost of the goods or services. Facilities include twelve dorms and apartment complexes providing housing to approximately 2150 students, two dining halls, a bookstore, snack bar, child center, and telephone services. 52664292 25000 34772445 168574126 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 1 695 0 1 3365 1 1 1 1 FR 0 0 0 1 1 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Skidmore College Financial Services 5185805820 815 North Broadway Saratoga Springs NY 12866 Jonathan Achenbaum Trustee 3.00 X 0 0 0 Dan Allen Trustee 3.00 X 0 0 0 Harry Alverson Trustee 3.00 X 0 0 0 Susan Beckerman Trustee 3.00 X 0 0 0 Josh Boyce Trustee 3.00 X 0 0 0 Charles Buchanan Trustee 3.00 X 0 0 0 Kal Das Trustee 3.00 X 0 0 0 Al de Molina Trustee 3.00 X 0 0 0 Alexander Egan Trustee 3.00 X 0 0 0 Alan Gilbert Trustee 3.00 X 0 0 0 Katherine Gross Trustee 3.00 X 0 0 0 Sibyl Haley Trustee 3.00 X 0 0 0 Nancy Hamilton Trustee 3.00 X 0 0 0 Maxine Isaacs Trustee 3.00 X 0 0 0 Linda Jackson-Chalmers Trustee 3.00 X 0 0 0 William Ladd Trustee 3.00 X 0 0 0 Tony Llano Trustee 3.00 X 0 0 0 Maria Markowitz Trustee 3.00 X 0 0 0 Scott Martin Trustee 3.00 X 0 0 0 John Melligon Trustee 3.00 X 0 0 0 Barbara Kahn Moller Trustee 3.00 X 0 0 0 John Morris Trustee 3.00 X 0 0 0 Jonathan Brestoff Parker Trustee 3.00 X 0 0 0 Diana Perry Trustee 3.00 X 0 0 0 Joel Quadracci Trustee 3.00 X 0 0 0 Kim Roy Tofalli Trustee 3.00 X 0 0 0 Julianne Cartwright Traylor Trustee 3.00 X 0 0 0 Robert Weisbuch Trustee 3.00 X 0 0 0 Tom Wilmot Trustee 3.00 X 0 0 0 Scott McGraw Board Chair 10.00 X X 0 0 0 PHILIP A GLOTZBACH PRESIDENT 35.00 X X 491909 0 105451 Michael West VP Finance, Admin & Treasurer 35.00 X 289796 0 38319 Michael Casey VP Advancement 35.00 X 259700 0 31314 William BRESLIN VP & Dean of Faculty 35.00 X 219580 0 48861 Mary LOU BATES VP & Dean of Admissions 35.00 X 195090 0 39785 Joshua Woodfork VP Strategic Plan, Inst Diversity 35.00 X 186204 0 28651 Debra Townsend Interim VP Communications 35.00 X 180770 0 314 Gail Cummings-Danson Interim VP Student Affairs 35.00 X 158534 0 42089 Cerri Banks Partial Year VP Student Affairs 35.00 X 83177 0 12552 BarBARA BECK Director OF HR/ASSOC VP 35.00 X 171363 0 38055 RoberT BOYERS Professor & EDITOR 35.00 X 168409 0 20172 Denise SMITH Professor 35.00 X 164016 0 22161 Bernard Possidente Professor 35.00 X 162819 0 41410 Paul calhoun Dean of special programs 35.00 X 161602 0 35258 Patricia Fehling Assoc Dean & Professor 35.00 X 150787 0 21008 Sheldon solomon Former Officer, Professor 35.00 X 143265 0 34803 Thomas Oles Dept Chair & Assoc Professor 35.00 X 143070 0 24839 Jeffrey Segrave Professor 35.00 X 131434 0 42085 3461525 0 627127 107 1 1 0 Sodexho OPERATIONS PO BOX 360170 PITTSBURGH PA 15251 PrOJECT MANAGEMENT 1765794 wJ MORRIS EXCAVATING INC 210 OLD GICK RD saRATOGA SPRINGS NY 12866 EXCAVATING SERVICES 1630612 InSTITUTION FOR THE INTERNATIONAL EDUCAT 33 N LASALLE ST ChicAGO IL 60602 EduCATION SERVICES 1609114 Payette Associates Inc 290 Congress St Boston MA 02210 Architectural Design Services 1189974 World LearningSIT Study Abroad 1 Kipling Road Brattleboro VT 05302 EduCATION SERVICES 1145591 21 X 51420 2619594 22937855 9298727 25608869 Tuition & Fees 721310 138561571 138561571 Auxiliary Enterprises 721310 35696406 33022559 49807 2624040 Other Sources 721310 1853230 1749886 103344 STUDENT LOANS INTEREST 721310 19145 19145 176130352 1001857 1001857 13113 13113 11743120 0 11743120 11743120 11743120 179926 51420 125377 54549 54549 PASS-THROUGH ENTITIES 900099 141900 141900 141900 214693760 173353161 191707 15540023 25000 25000 43739037 43739037 2030943 630069 1136874 264000 66245347 52310593 11058427 2876327 6180832 4847596 1052366 280870 19369000 13622754 5172776 573470 4726189 3679798 845119 201272 382921 84456 298465 106309 1378 104931 8899468 6350756 1931512 617200 2654208 516827 2137381 2865808 2162320 285471 418017 741755 734955 6800 2893799 2893799 15731519 15731519 941318 128868 812450 EQUIPMENT RENTAL 6497506 3286803 3200050 10653 COST OF GOODS SOLD 4638011 4638011 SUPPLIES 2390270 1987883 373715 28672 RECRUITING 1964459 1375811 405327 183321 11811060 9825893 1615833 369334 204834759 168574126 30437497 5823136 716418 785768 32354610 30307576 17938402 15054050 1614986 1859416 1737688 1427319 661957 438519 4841884 3694913 474259327 242909990 221771019 231349337 412350553 457527875 139424 11034 694126941 742455807 73620963 77101829 7405060 7739423 65557962 61145683 1696210 1707242 148280195 147694177 X 297398963 324943625 112906482 131117132 135541301 138700873 545846746 594761630 694126941 742455807 X 9859001 39442345 -386462 X 0 1 X 1 1 1 X 16753886 28031315 26523803 34937086 25608869 131854959 16753886 28031315 26523803 34937086 25608869 131854959 15886756 115968203 1989739 1737903 781935 660661 1119130 6289368 319299 1222259 0 52645 122352 1716555 139860882 472748892 0.82920 0.79950 X PARTS I AND II / PUBLIC CHARITY STATUS AND SUPPORT SCHEDULE SKIDMORE COLLEGE QUALIFIES AS A PUBLIC CHARITY AS A SCHOOL DESCRIBED IN INTERNAL REVENUE CODE SECTION 170(B)(1)(A)(II). SCHEDULE A, PART II (SUPPORT SCHEDULE) HAS BEEN COMPLETED TO DEMOSTRATE ELIGIBILITY TO REPORT CONTRIBUTIONS ON SCHEDULE B UNDER THE APPLICABLE SPECIAL RULE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3404782 11395851 X X X 0 329902264 3691874 46508197 5710391 11368364 363023580 350041607 9642814 -11950402 5659746 12172009 329902264 330593723 8272964 28567826 5402361 11990545 350041607 303091820 5168391 38551770 5018636 11199622 330593723 280775364 4954607 32733508 4770319 10601340 303091820 0.39840 0.36970 0.23190 1 0 4547836 4547836 333170952 146030799 187140153 94378958 70944676 23434282 42161581 25934515 16227066 231349337 common stocks 83870917 F INVESTMENTS UNDER SPLIT INTEREST AGREEMENTS 7255148 F CASH & CASH EQUIVALENTS 14827708 F Closely held stocks 10848735 F EQUITY LONG/SHORT INVESTMENT FUNDS 146562335 F FIXED INCOME MUTUAL FUNDS 40020514 F FIXED INCOME COMMINGLED INVESTMENT FUNDS 19301311 F ABSOLUTE RETURN FUNDS 80185515 F PRIVATE EQUITY CAPITAL FUND 37913923 F PRIVATE EQUITY REAL ESTATE FUNDS 16741769 F 457527875 Refundable government loan funds 1299266 Asset retirement obligation 407976 1707242 X 253749643 39442345 -593245 38849100 214900543 -206783 -206783 214693760 204834759 0 204834759 0 204834759 Part III, Line 4: DESCRIPTION OF ART, ETC. COLLECTIONS AND CONTRIBUTION TO EXEMPT PURPOSE: Skidmore College holds a culturally and historically diverse collection of over 4,500 artworks and ethnographic objects that serve primarily as a learning resource for faculty and students. Part V, Line 4: INTENDED USES OF ENDOWMENT FUNDS: ENDOWMENT FUNDS ARE INTENDED TO BE USED TO SUPPORT THE ACTIVITIES AND MISSION OF THE COLLEGE. Part X, Line 2: TEXT OF FIN 48 (ASC 740) FOOTNOTE FROM THE FINANCIAL STATEMENTS: The primary income tax position taken by the College for any years open under the various statutes of limitations is that the College continues to be exempt from income taxes except for unrelated business income. The College believes that there are no uncertain tax positions that are material to the financial statements. None of the College's returns are currently under examination by the Internal Revenue Service ("IRS") or state authorities. Part XI, Line 2d - Other Adjustments: OTHER INCOME CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -593,245. Part XI, Line 4b - Other Adjustments: DEBT ISSUANCE COSTS AMORTIZATION IN F/S REVENUE -206,783. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The racially nondiscriminatory policy is publicized on the internet and in the printed College catalogue in order to best make known to the general community as well as to prospective students. Due to the large geographic area of recruiting for the College using the internet for broadcast media was determined to be the most effective broadcast media outlet. Schedule E, Part I, Line 6 FINANCIAL AID AND ASSISTANCE FROM GOVERNMENTAL AGENCIES INCLUDE PELL GRANT, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, COLLEGE WORK STUDY PROGRAM, FEDERAL DIRECT STUDENT LOANS, PERKINS LOANS AS WELL AS OTHER ASSISTANCE THAT IS USED IN FULFILLING THE MISSION OF THE COLLEGE. Europe 1 1 Program Service Educational Services 118127 1 1 0 0 1 1 118127 0 118127 0 0 0 0 0 0 FOSA GOLF TOURNAMENT 53011 12720 40291 31880 POLO FUNDRAISER 178335 38700 139635 93497 231346 51420 179926 125377 125377 54549 1 Saratoga Arts Festival C/O Skidmore PO Box 451 Saratoga Springs NY 12866 412247391 501(C)(3) 25000 Pledge Contribution 1 0 Scholarships and prizes 1096 43739037 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS: Scholarships and prizes are awarded based on need and monitored annually based on students' academic profiles and guidelines as provided to students. These guidelines are also available to students on the Skidmore College website. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PHILIP A GLOTZBACH PRESIDENT 491909 0 0 0 0 0 29150 0 76301 0 597360 0 0 0 Michael West VP Finance, Admin & Treasurer 289796 0 0 0 0 0 29150 0 9169 0 328115 0 0 0 Michael Casey VP Advancement 259700 0 0 0 0 0 28750 0 2564 0 291014 0 0 0 William BRESLIN VP & Dean of Faculty 219580 0 0 0 0 0 24153 0 24708 0 268441 0 0 0 Mary LOU BATES VP & Dean of Admissions 195090 0 0 0 0 0 21408 0 18377 0 234875 0 0 0 Joshua Woodfork VP Strategic Plan, Inst Diversity 186204 0 0 0 0 0 20001 0 8650 0 214855 0 0 0 Debra Townsend Interim VP Communications 180770 0 0 0 0 0 0 0 314 0 181084 0 0 0 Gail Cummings-Danson Interim VP Student Affairs 158534 0 0 0 0 0 17181 0 24908 0 200623 0 0 0 BarBARA BECK Director OF HR/ASSOC VP 171363 0 0 0 0 0 18978 0 19077 0 209418 0 0 0 RoberT BOYERS Professor & EDITOR 168409 0 0 0 0 0 17358 0 2814 0 188581 0 0 0 Denise SMITH Professor 164016 0 0 0 0 0 13761 0 8400 0 186177 0 0 0 Bernard Possidente Professor 162819 0 0 0 0 0 16202 0 25208 0 204229 0 0 0 Paul calhoun Dean of special programs 161602 0 0 0 0 0 18255 0 17003 0 196860 0 0 0 Patricia Fehling Assoc Dean & Professor 150787 0 0 0 0 0 12608 0 8400 0 171795 0 0 0 Sheldon solomon Former Officer, Professor 143265 0 0 0 0 0 16058 0 18745 0 178068 0 0 0 Thomas Oles Dept Chair & Assoc Professor 143070 0 0 0 0 0 15939 0 8900 0 167909 0 0 0 Jeffrey Segrave Professor 131434 0 0 0 0 0 15044 0 27041 0 173519 0 0 0 Part I, Line 1a THE COLLEGE PROVIDES PRESIDENT GLOTZBACH WITH A CAMPUS HOUSE AND REQUIRES ITS USE AS A CONDITION OF EMPLOYMENT FOR THE BENEFIT OF THE COLLEGE. THE TOTAL ANNUAL ESTIMATED VALUE IS INCLUDED IN NON-TAXABLE BENEFITS IN FORM 990, PART VII, LINE 1A AND SCHEDULE J, PART II. A Dormitory Authority of the State of New York 146000293 649906CC6 2011-02-04 32363454 Refund of prior issue & student dormitories 0 0 0 B SARATOGA County capital resource corporation 461520521 803481bd1 2014-04-29 12490813 REFUND OF PRIOR ISSUE 0 0 0 C SARATOGA County capital resource corporation 461520521 803481by5 2014-06-03 25375106 ReFUND OF PRIOR ISSUE 0 0 0 A 32363454 644308 8960402 753358 22039944 8960402 2006 1 0 1 1 B 12490813 127779 12363034 2014 1 0 1 1 C 25375106 285387 25089719 2013 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 ADIRONDACK TRUST CO PRES. GLOTZBACH IS A BOARD MEMBER OF THE ADIRONDACK TRUST CO. 398545 THE COLLEGE RECEIVED INTEREST/DIVIDENDS OF $383,992 FOR EQUITY INTEREST IN ADIRONDACK TRUST CO. AND OTHER AMOUNTS HELD WITH ADIRONDACK TRUST CO. and paid fees of $14,553. 0 saratoga hospital Vice president michael west served as a board member of the hospital 10025 The college paid Saratoga Hospital $10,025 in lab and related medical fees. 0 Saratoga Arts Festival VP ADVANCEMENT M CASEY WAS A BOARD MEMBER OF THE FESTIVAL. 25000 COLLEGE MADE A PLEDGED DONATION OF $25,000 TO THE FESTIVAL. 0 X 43 3404782 Expert Opinion X 94 1468955 Fair Value X 1 850000 EXPERT OPINION X 2 3225000 EXPERT OPINION X Horses 3 230000 Expert Opinion X FURNITURE 1 90000 EXPERT OPINION X PIANO 1 29990 EXPERT OPINION 14 0 1 0 Form 990, Part VI, Section B, line 11b FORM 990 REVIEW PROCESS: THE DRAFT RETURN (FORM 990) WAS REVIEWED BY THE AUDIT AND RISK MANAGEMENT COMMITTEE PRIOR TO FILING. COPIES OF THE FINAL RETURN WERE SUBSEQUENTLY PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. Form 990, Part VI, Section B, line 12c CONFLICT OF INTEREST PROCEDURES: College trustees, committee members, officers, and certain other employees are required to complete a form and disclose any conflicts. All disclosures are reviewed and abated by removing the employee from the situation to ensure that an arm's length transaction takes place. Form 990, Part VI, Section B, line 15 COMPENSATION PROCEDURES: Process for determining compensation: The College Board of Trustees has delegated the implementation of practices as it relates to executive compensation to the Compensation Committee. On an annual basis, the Vice President for Finance and Administration prepares salary and peer data collected through H.R., surveys, etc. for both the President and other officers. The President of the College makes a recommendation to the Compensation Committee of the Board of Trustees for officers of the College based on the relevant data, market analysis, peer data, etc. The Compensation Committee is provided leeway to deviate from the recommendation where other considerations are relevant and approves the officer salaries. On an annual basis, the Compensation Committee reviews the performance, as well as the salary and peer data collected through H.R., surveys, etc. as it relates to the President of the College and will approve any adjustments to the President's salary. Form 990, Part VI, Section C, line 19 PUBLIC ACCESS TO DOCUMENTS: Financial statement data is included in the annual information return (Form 990) and the information is made public. Policies can be found on the College's website. The College's charter is filed with New York State. FORM 990, PART VIII, LINE 2 AUXILIARY ENTERPRISES UNRELATED BUSINESS REVENUES: Skidmore College has had long term relationships with many cultural institutions that bring their activities to Saratoga Springs during the summer. These institutions include dance companies, orchestras, ballet companies, and other artist groups. These activities enrich the cultural life at Skidmore and the community and are a significant part of the educational experience at Skidmore. The College derives revenue from making its facilities available to the visiting artists and their staff. The expenses and deductions associated with these revenues have always significantly exceeded the revenues. These activities are not reported as unrelated business income since they contribute importantly to the educational mission of the College. During the current reporting period revenues in this category (comprised of room and board charges and fees) amounted to $1,882,277. The College also derives small amounts of revenue from some unrelated activities carried on as part of the larger exempt function activities. These revenues cover part of the College's fixed and variable costs associated with these activities but the expenses and costs properly allocable to these activities have always been in excess of the revenues. Excess revenues in this category in the current reporting period include $91,141 from rental of excess capacity in the stables, $769 from Surrey-Williamson Inn at Skidmore, and $29,081 from Tang Museum Shop at Skidmore. The net losses from these activities have not been reported as unrelated business income or loss. Form 990, Part XI, line 9: AMORTIZATION OF DEBT ISSUANCE COSTS NETTED IN OTHER REVENUE IN FS 206,783. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -593,245. skidmore en france 94 boulevard sebastopol paris FR 981235361 Support for Skidmore programs in france FR SKIDMORE COLLEGE CHARITABLE REMAINDER TRUSTS (21) INVESTMENT NY VARIOUS T 1.00000 0 CHARITABLE GIFT ANNUITIES (80) INVESTMENT NY VARIOUS T 1.00000 0 POOLED INCOME FUND (1) INVESTMENT NY VARIOUS T 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0