2017-05-15T11:43:41-05:00 2016-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2015-07-01 030179403 Saint Michael's College % SHIRLEY GOODELL-LACKEY SAIN 8026542586 One Winooski Park Box 274 Colchester VT 05439 NEAL E ROBINSON VP for FINANCE 8026542586 2017-05-15 true SHYAMALEE JOSEPH P01085371 6179881000 2015 2021-01-29 14:40:06Z NEAL E ROBINSON One Winooski Park Box 274 Colchester VT 05439 136867022 false 0928 X www.smcvt.edu X 1913 VT To contribute through higher education to the enhancement of the human person and the advancement of human culture in the light of the catholic faith. 31 28 2104 1729 -105289 -148136 4992520 5125109 109966137 108808369 8073403 871971 1468550 1295353 124500610 116100802 39067869 39503145 0 0 43802495 43941738 0 0 1721320 35194225 35032550 118064589 118477433 6436021 -2376631 207342400 219400794 65200435 82899925 142141965 136500869 X IT IS THE MISSION OF SAINT MICHAEL'S COLLEGE TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND TO THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. false false 70852236 39503145 84331428 Academic program and financial support services, See Schedule O 19530338 24476941 Auxiliary Enterprises, See Schedule O 13706534 Student Services, See Schedule O 2467505 106556613 true true false true false false false false false true true true false false true true false true true true true true true false true false false true true true true false false false false false false false false false true true false false false false true true true false true 4134 0 true 2104 true true true false false false false true true false false false false false false X 31 28 false false false false false false false true true false false false true true true true true true true false VT X X SHIRLEY GOODELL-LACKEY 8026542586 ONE WINOOSKI PARK BOX 274 Colchester VT 05439 X Mary-Kate G McKenna Chair of the Board 10.0 0.0 X 0 0 0 Very Rev Stephen Hornat SSE Vice Chair of the Board 1.0 X 0 0 0 Dr Sultan Ahamed Trustee 1.0 X 0 0 0 Sr Peg Albert OP PHD Trustee 1.0 X 0 0 0 Sr Lorraine Aucion PM Trustee 1.0 X 0 0 0 Dr Jose C Blanco Trustee 1.0 X 0 0 0 Sr Lindora Cabral Trustee 1.0 X 0 0 0 Philip C Ciulla Jr Trustee 5.0 X 0 0 0 Rev Michael P Cronogue SSE Trustee 15.0 X 21888 0 0 Michael J Cunniff Trustee 1.0 X 0 0 0 Rev Stan Deresienski SSE Trustee 1.0 X 0 0 0 Rev Raymond J Doherty SSE Trustee 25.0 1.0 X 6289 0 0 Rev Patrick Forman Trustee 1.0 X 0 0 0 Joseph P Garrity Trustee 2.0 X 0 0 0 Bro Francis J Hagerty SSE Trustee 4.0 X 0 0 0 Rev Thomas FX Hoar SSE Trustee 5.0 X 0 0 0 Noriko Kameda Trustee 2.0 X 0 0 0 Anthony J Maginnis Trustee 2.0 X 0 0 0 Michael E McGrath Trustee 2.0 X 0 0 0 Gerald W McKenna Trustee 3.0 X 0 0 0 Mark R Nelson Trustee 1.0 X 0 0 0 William B O'Keefe Trustee 1.0 X 0 0 0 Carol S Piccaro Trustee 1.0 X 0 0 0 Steven J Renehan Trustee 2.0 X 0 0 0 Barry D Roy Trustee 2.0 X 0 0 0 Michael L Seaver Trustee 2.0 X 0 0 0 Rev David J Theroux SSE Trustee 20.0 X 20935 0 0 DR Robert F Tobin Trustee 3.0 X 0 0 0 Maureen Usifer Trustee 1.0 X 0 0 0 Peggy R Williams Trustee 2.0 X 0 0 0 John J Neuhauser President 40.0 X X 368069 0 134514 Patrick J Gallivan Secretary of the Board/VPIA 40.0 1.0 X 148937 0 21214 Neal E Robinson VP for Finance and Treasurer 40.0 X 191411 0 34593 Sarah M Kelly VP Enrollment & Marketing 40.0 X 175065 0 39266 Dawn M Ellinwood VP for Student Affairs 40.0 1.0 X 176384 0 40155 Karen A Talentino VP for Academic Affairs 40.0 X 189408 0 34004 Michael J New VP Human Resources 40.0 X 158644 0 13993 William O Anderson Chief Information Officer 40.0 X 180085 0 37255 Geraldine S Knortz Director of Athletics 40.0 X 162809 0 10819 Carolyn B Duffy Professor Applied LinguistICS 40.0 X 135649 0 13650 Ke-Wen Wang Professor of History 40.0 X 130615 0 8732 Ronald B Miller Graduate Psychology Professor 40.0 X 128687 0 26878 Susan W Summerfield Professor Fine Arts Music 40.0 X 123789 0 18804 MARILYN E CORMIER Former SECRETARY OF THE BOARD 0.0 X 118462 0 7354 2437126 0 441231 27 true true false Competitive Computing Inc 354 Mountain View Drive Suite 400 COLCHESTER VT 05446 IT Consultants 724320 Royall Company 1920 East Parham Road RICHMOND VA 05446 Recruiting 525476 Ellucian Inc 4375 Fair Lakes Court FAIRFAX VA 22033 IT Consultants 475872 KPMG LLP 356 Mountain View Drive COLCHESTER VT 05446 AUDIT & TAX SERVICES 152050 Maguire Associates 555 Virginia Road Suite 201 CONCORD MA 01742 Financial Aid Consul 125000 42 X 6249 2151270 2967590 335904 5125109 TUITION AND FEES 611710 84331428 84331428 RESIDENCE AND DINING 721310 20236444 20236444 BOOK STORE 451211 1231713 1231713 PRINTING SERVICES 900099 559839 559839 SMC PLAYHOUSE 713940 451355 451355 1997590 1307670 24103 665817 108808369 1420671 -129392 1550063 0 0 257653 257653 0 257653 257653 20151299 50800 20641366 109433 -490067 -58633 -548700 -548700 15421 6249 15421 0 0 0 OTHER OPERATING INCOME 900099 1037700 1037700 1037700 116100802 106886736 -105289 4194246 86350 86350 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6853068 6263844 6184942 4992520 5125109 29419483 0 0 6853068 6263844 6184942 4992520 5125109 29419483 0 29419483 1053348 1242383 1342812 1247539 1807716 6693798 41901 22094 63995 277367 1097446 1160273 1126089 1037700 4698875 40876151 520769105 0.71972 0.72300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false true 806 false false false 806 false false GRANTS TO OTHER ORGANIZATIONS FOR LOBBYING PURPOSES PART II-B, LINE 1F THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORMS SERVING THE INTERESTS OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $15,796. APPROXIMATELY $806 OF THIS AMOUNT WAS ALLOCATED TO LOBBYING. 88508483 564890 -2284722 2331552 1205490 229555 83022054 91349379 594728 59811 2133921 1085291 276223 88508483 78312676 2294010 14148166 2110538 841479 453456 91349379 69718728 677917 11028823 1706545 915985 490262 78312676 71231474 2697110 -1267356 1790702 755660 396138 69718728 0.43000 0.38000 0.19000 false false 2335261 2335261 156929321 81008289 75921032 40624829 32838269 7786560 22202607 3022465 19180142 105222995 CASH EQUIVALENTS 6740230 F WORLD EQUITY COMPOSITE-MF,HFOF 6715917 F DIRECTONAL HEDGE COMPO-HFOF 9985727 F RELATIVE VALUE STRAT-DHF 18158962 F PRIVATE EQUITY 3746837 F GLOBAL FIXED INCOME-SUB DBT,HF 7966094 F REAL ASSET COMP-DHF,REAL EST 9623696 F DEPOSIT WITH BOND TRUSTEES 14178620 F 77116083 0 OTHER LIABILITIES 4044339 AMTS HELD ON BEHALF OF OTHERS 1533190 REFUNDABLE ADVANCES 4388319 ANNUITY OBLIGATION 95782 CAPITAL LEASE OBLIGATIONS 262121 10323751 X 73459963 -3264465 -3264465 76724428 39376374 39376374 116100802 79101059 15421 15421 79085638 39391795 39391795 118477433 ENDOWMENT FUNDS PART V, LINE 4 THE PRIMARY USE OF THE COLLEGE'S ENDOWMENT IS TO SUPPORT OUR STUDENTS IN THEIR PURSUIT OF HIGHER EDUCATION THROUGH SCHOLARSHIP ASSISTANCE, RESEARCH AND STUDY ABROAD OPPORTUNITIES, SERVICE LEARNING, STUDENT SERVICES AND LECTURE SERIES. IN A FEW INSTANCES, ENDOWMENT FUNDS HAVE BEEN ESTABLISHED TO SUPPORT LIBRARY ACQUISITIONS, DEPARTMENT CHAIRS AND DEFERRED MAINTENANCE ON BUILDINGS PREVIOUSLY FUNDED BY DONORS. UNCERTAIN TAX POSITIONS PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAX PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUE INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XI, LINE 4B SPECIAL EVENT EXPENSES (15,421) STUDENT FINANCIAL AID 39,391,795 ------------ Total $ 39,376,374 OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XII, LINE 2D Special Events Expenses $ 15,421 OTHER EXPENSES INCLUDED ON RETURN NOT IN FINANCIAL STATEMENTS PART XII, LINE 4B Student Financial Aid $ 39,391,795 true true true true true true true false false false false false false false false true false true NONDISCRIMINATION POLICY PART I, LINE 3 THE COLLEGE INCLUDES ITS RACIALLY NONDISCRIMINATORY POLICY IN ITS BYLAWS, EMPLOYEE HANDBOOK, GRADUATE AND UNDERGRADUATE CATALOGS, STUDENT CODE OF CONDUCT AND COLLEGE POLICY HANDBOOK, FACULTY REGULATIONS, ON OUR APPLICATION SUPPLEMENT, UNDER FACTS ABOUT THE COLLEGE ON ITS WEBSITE, AND WITHIN THE NEASC SELF STUDY DOCUMENT FOR REACCREDITATION. THE COLLEGE ALSO VALUES DIVERSITY AND HAS A BOARD OF TRUSTEES APPROVED POLICY WHICH IS ALSO CONTAINED WITHIN MANY OF THESE DOCUMENTS. GRANTS FROM GOVERNMENT AGENCIES PART I, LINE 6A SAINT MICHAEL'S COLLEGE RECEIVES GRANTS AND STUDENT AID FROM VARIOUS GOVERNMENTAL AGENCIES FOR SUPPORT OF EDUCATIONAL AND STUDENT PROGRAMS. true Central America and the Caribbean Program Services STUDY ABROAD 133875 East Asia and the Pacific Program Services STUDY ABROAD 344600 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 1180584 Middle East and North Africa Program Services STUDY ABROAD 33575 North America Program Services STUDY ABROAD 35743 South America Program Services STUDY ABROAD 218460 South Asia Program Services STUDY ABROAD 101550 Sub-Saharan Africa Program Services STUDY ABROAD 119225 East Asia and the Pacific 15 Agent 112934 Europe (Including Iceland and Greenland) 2 Agent 6474 North America 1 Agent 4649 Middle East and North Africa 1 Agent 11130 East Asia and the Pacific Program Services RECRUITING 22763 Europe (Including Iceland and Greenland) Program Services RECRUITING 7063 North America Program Services RECRUITING 243 Middle East and North Africa Program Services RECRUITING 1247 South Asia Program Services SERVICE TRIP 8548 Central America and the Caribbean Program Services SERVICE TRIP 3757 Central America and the Caribbean Program Services STUDY TOUR TRIPS 38628 Europe (Including Iceland and Greenland) Program Services STUDY TOUR TRIPS 69239 South America Program Services STUDY TOUR TRIPS 53531 Europe (Including Iceland and Greenland) Program Services CONFERENCES 8881 North America Program Services CONFERENCES 11281 South America Program Services CONFERENCES 894 North America Program Services RETREATS 2208 Central America and the Caribbean Program Services General Support 7000 South Asia Program Services General Support 18000 19 19 2342663 213419 2556082 South Asia GENERAL SUPPORT 9000 South Asia GENERAL SUPPORT 9000 Central America and the Caribbean GENERAL SUPPORT 7000 3 STUDENT SCHOLARSHIPS Central America and the Caribbean 7 77300 Wire N/A N/A STUDENT SCHOLARSHIPS East Asia and the Pacific 18 177039 Wire N/A N/A STUDENT SCHOLARSHIPS Europe (Including Iceland and Greenland) 66 713271 Wire N/A N/A STUDENT SCHOLARSHIPS North America 2 23887 WIRE N/A N/A STUDENT SCHOLARSHIPS Middle East and North Africa 2 26563 Wire N/A N/A STUDENT SCHOLARSHIPS South America 11 116932 Wire N/A N/A STUDENT SCHOLARSHIPS South Asia 5 51000 Wire N/A N/A STUDENT SCHOLARSHIPS Sub-Saharan Africa 7 63690 Wire N/A true false true true true true ACTIVITIES OUTSIDE THE UNITED STATES PART I, LINE 3 SHORT-TERM PROGRAM SAINT MICHAEL'S COLLEGE INTERNATIONAL SHORT-TERM PROGRAMS ARE AN IMPORTANT AND CREATIVE WAY FOR FACULTY AND STUDENTS TO EXPAND THE BOUNDARIES OF THE SAINT MICHAEL'S CAMPUS. SHORT-TERM STUDY PROGRAMS ARE ACADEMIC COURSES DEVELOPED BY FACULTY. TYPICALLY LASTING TWO WEEKS, THESE PROGRAMS INVOLVE STUDY ABROAD, MAY INCLUDE DIRECT INVOLVEMENT IN ISSUES COVERED IN AN ON-CAMPUS COURSE AND PROVIDE DIRECT EXPERIENCE ON A PARTICULAR TOPIC IN A PARTICULAR LOCALE. STUDY ABROAD SAINT MICHAEL'S COLLEGE WORKS WITH OVER 20 THIRD-PARTY AND EXCHANGE PARTNERS TO PROVIDE STUDENTS WITH OPPORTUNITIES TO STUDY IN OVER 70 INTERNATIONAL STUDY DESTINATIONS. THERE IS A DIVERSITY OF CREDIT-BEARING PROGRAMS INCLUDING SUMMER, SEMESTER, AND SHORT TERM FACULTY LED TRIP OPTIONS. IN OUR INCREASINGLY GLOBAL SOCIETY, MORE AND MORE STUDENTS RECOGNIZE THE VALUE OF SPENDING A SEMESTER OF YEAR ABOARD. AGENTS THE COLLEGE'S APPLIED LINGUISTICS DEPARTMENT OFFERS A VARIETY OF ENGLISH LANGUAGE PROGRAMS FOR STUDENTS TO EARN A CERTIFICATE OF COMPLETION AND/OR MASTER'S DEGREE IN TEACHING ENGLISH TO SPEAKERS OF OTHER LANGUAGES. UPON SUCCESSFUL COMPLETION OF THE ADVANCED ENGLISH PROGRAM LEVEL II, A STUDENT MAY MATRICULATE INTO AN UNDERGRADUATE DEGREE PROGRAM AT THE COLLEGE OR ELSEWHERE. THE COLLEGE USES INTERNATIONAL AGENTS TO ASSIST WITH RECRUITING AND ADMISSIONS FOR THESE PROGRAMS. RECRUITING THE COLLEGE HAS ONE FULL-TIME STAFF AND ONE PART-TIME STAFF MEMBER WHO TRAVEL TO RECRUIT INTERNATIONAL STUDENTS AND GROUPS FOR OUR ENGLISH LANGUAGE PROGRAMS AND UNDERGRADUATE ADMISSIONS. THESE EXPENSES ARE PRIMARILY RELATED TO TRAVEL IN CHINA, EUROPE, AFRICA, SOUTH KOREA, JAPAN, AND THE MIDDLE EAST. THE COLLEGE IS EXPANDING ITS RECRUITING EFFORTS TO MANY LATIN AMERICAN COUNTRIES AND INDIA. SERVICE TRIP REFER TO PART II SUPPLEMENTAL INFORMATION, THIS REPRESENTS THE IN COUNTRY EXPENSES PAID FOR FLIGHTS, MEALS SUPPLIES, AND LODGING. GRANTS TO ENTITIES OUTSIDE THE UNITED STATES PART II OUR MOBILIZATION OF VOLUNTEER EFFORTS DEPARTMENT, KNOWN AS MOVE, PROMOTES ONE PRINCIPLE OF THE CATHOLIC FAITH - CHARITY. MOVE PROVIDES OPPORTUNITIES FOR THE COLLEGE'S STUDENTS TO PERFORM COMMUNITY SERVICE WORK DURING THE ACADEMIC YEAR AND DURING SEMESTER AND SUMMER BREAKS AT BOTH DOMESTIC AND INTERNATIONAL SERVICES SITES. SEE SCHEDULE O UNDER PART III STUDENT SERVICES FOR MORE DETAILS. THESE PAYMENTS REPRESENT FUNDS RAISED BY STUDENTS TO HELP SUPPORT NON-PROFIT ORGANIZATIONS IN INDIA AND THE DOMINICAN REPUBLIC WHERE THEY VOLUNTEER. MOVE IS IN COMMUNICATION WITH THE RECIPIENT ORGANIZATION THROUGHOUT THE YEAR AND HAS GENERAL CONVERSATIONS ABOUT THE ORGANIZATION'S STATUS AND PROJECTS AND MAKES ARRANGEMENTS FOR THE FOLLOWING YEAR TRIP. MOVE WORKS WITH ORGANIZATIONS SO STUDENT VOLUNTEERS HAVE A CLEAR VISION ABOUT WHAT IS EXPECTED AND WHAT THEY SHOULD EXPECT WHEN THEY ARRIVE IN THE COUNTRY. SCHOLARSHIPS PART III SCHOLARSHIPS RELATE TO STUDENTS STUDYING ABROAD FOR A SEMESTER OR A YEAR. ALL SCHOLARSHIPS ARE APPLIED TO THE STUDENT'S ACCOUNT BALANCE. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO STUDENTS ACCEPTED INTO THE STUDY ABROAD PROGRAM. Golf Classic 21670 6249 15421 3915 7820 2946 740 0 21670 6249 15421 3915 7820 2946 740 15421 VT IN VERMONT, A NON-PROFIT ORGANIZATION THAT ORGANIZES A RAFFLE OR GAMES OF CHANCE FOR THE PURPOSE OF RAISING FUNDS TO BE USED FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES DOES NOT NEED A LICENSE. SAINT MICHAELS COLLEGE 1 WINOOSKI COLCHESTER VT 05439 true BURLINGTON CHILDRENS SPACE 241 N WINOOSKI AVENUE BURLINGTON VT 05401 222533646 501(c)(3) 10000 SEE PART IV. SSE DBA SAINT ANNE'S SHRINE PO BOX 280 ISLE LA MOTTE VT 05463 030195115 501(C)(3) 76350 SEE PART IV. 2 STUDENT SCHOLARSHIPS 1833 34394845 UNDERGRADUATE ENDOWMENT FUNDED SCHOLARSHIPS 247 2331552 UNDERGRADUATE ATHLETIC GRANTS 19 999231 FED SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS 297 402797 GRADUATE STUDENT GRANTS 8 13688 GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE U.S. PART II, COLUMN H (1)THE CONTRIBUTION TO BURLINGTON CHILDRENS SPACE WAS MADE TO PROVIDE SUPPORT OF THEIR MISSION TO EMBRACE, ENRICH, EMPOWER AND EDUCATE YOUNG CHILDREN AND FAMILIES IN THE COMMUNITY BY PRIORITIZING EFFECTIVE PARTNERSHIPS WITH VARIOUS COMMUNITY ENTITIES WHICH RESULT IN A SYNERGY THAT BOTH ENHANCES CHILDRENS EXPERIENCES AND OPPORTUNITIES, AS WELL AS IMPROVES THE COMMUNITY. THIS ORGANIZATION WAS CHOSEN TO RECEIVE THIS DONATION BY THE COLLEGES STUDENT ASSOCIATION WHICH INVITES LOCAL NON-PROFIT ORGANIZATIONS TO APPLY FOR A $10,000 DONATION THROUGH AN APPLICATION PROCESS. THREE ORGANIZATIONS ARE THEN CHOSEN TO EACH MAKE A PRESENTATION TO THE STUDENT BODY DESCRIBING THEIR ORGANIZATION AND ITS MISSION. THE COLLEGES STUDENTS THEN VOTE FOR THE ORGANIZATION THAT SHOULD RECEIVE THE DONATION. (2)THE CONTRIBUTION TO SAINT ANNE'S SHRINE WAS MADE TO PROVIDE SUPPORT OF THEIR MISSION TO SERVE AS A WELCOMING PLACE OF PEACE AND HOPE MINISTERING TO ALL GOD'S PEOPLE THROUGH PRAYER, DEVOTION, HOSPITALITY AND SPIRITUAL RENEWAL. THE SHRINE WAS DEVELOPED AND MAINTAINED FOR THE PAST 100 YEARS BY THE SOCIETY OF SAINT EDMUND, WHO IS ALSO THE FOUNDER OF SAINT MICHAEL'S COLLEGE. THE COLLEGE SHARES A SIMILAR MISSION TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. THE COLLEGE BENEFITS FROM USE OF THE FACILITIES AT THE SHRINE FOR CURRICULUM ENHANCEMENT, STUDENT AND STAFF RETREATS AND WORSHIP. GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS IN THE U.S. FORM 990, SCHEDULE I, PART III THE COLLEGE RECOGNIZES THE HIGH COST OF A PRIVATE EDUCATION AND ATTEMPTS TO ADDRESS AS MUCH AS WE PRACTICALLY CAN TO CLOSE THE GAP BETWEEN THE COST OF ATTENDANCE AND FAMILY RESOURCES USING A VARIETY OF SOURCES, INCLUDING FEDERAL, STATE AND INSTITUTIONAL (COLLEGE) FUNDING. THE THREE TYPES OF FINANCIAL ASSISTANCE WE EMPLOY INCLUDES GRANTS AND SCHOLARSHIPS, LOANS AND STUDENT EMPLOYMENT. IN 2015-2016, THE COLLEGE ADMINISTERED OVER $57 MILLION IN ASSISTANCE, OF WHICH APPROXIMATELY $39 MILLION WAS PRIMARILY COLLEGE FUNDED AID SCHOLARSHIPS OR GRANTS. THE FIVE YEAR-AVERAGE (2011-2015) OF UNDERGRADUATE STUDENTS RECEIVING COLLEGE FUND AID WAS 96.03%. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO ALL STUDENTS ACCEPTED FOR ADMISSION. THE AVERAGE NEED BASED SCHOLARSHIP OR GRANT FOR THE FALL 2015 INCOMING CLASS WAS APPROXIMATELY $22,338. THE AMOUNT OF AID A STUDENT RECEIVES UPON INITIAL ENROLLMENT GENERALLY IS AWARDED FOR EACH YEAR HE/SHE ATTENDS SAINT MICHAEL'S COLLEGE. X true true X X X X true false false false false false false true false John J Neuhauser President 359597 8472 86550 47964 502583 Patrick J Gallivan Secretary of the Board/VPIA 143687 5250 10144 11070 170151 Neal E Robinson VP for Finance and Treasurer 191411 13607 20986 226004 Sarah M Kelly VP Enrollment & Marketing 175065 12649 26617 214331 Dawn M Ellinwood VP for Student Affairs 176384 12590 27565 216539 Karen A Talentino VP for Academic Affairs 189408 13304 20700 223412 Michael J New VP Human Resources 158644 11011 2982 172637 William O Anderson Chief Information Officer 180085 9983 27272 217340 Geraldine S Knortz Director of Athletics 73161 89648 5168 5651 173628 Ronald B Miller Graduate Psychology Professor 128687 7269 19609 155565 MARILYN E CORMIER Former SECRETARY OF THE BOARD 39791 78671 2856 4498 125816 COMPENSATION INFORMATION FORM 990, SCH J, PART II FOR ELIGIBLE EMPLOYEES, COLUMN (D) NONTAXABLE BENEFITS PRIMARILY CONSISTS OF HEALTH CARE AND DENTAL BENEFITS. DETAILS FOR AMOUNTS REPORTED IN COLUMN B (III) AND COLUMN (D) ARE LISTED BELOW: DR. JOHN J. NEUHAUSER - COLUMN B (III) PERSONAL USE OF A COLLEGE VEHICLE. COLUMN (C) DEFERRED COMPENSATION INCLUDES CONTRIBUTIONS TO THE COLLEGES IRC 457 (B) PLAN AND A RETENTION BONUS. COLUMN (D) INCLUDES A HOUSING ALLOWANCE OF $34,278. A ONE YEAR PAID SABBATICAL ($382,347) AND RETENTION BONUS ($100,000) WAS GRANTED THROUGH APPOINTMENT LETTERS DATED JANUARY 2007 AND APRIL 2011. PATRICK J. GALLIVAN - COLUMN B (III) INCLUDES PERSONAL USE OF A COLLEGE VEHICLE. VEHICLE. VOLUNTARY RETIREMENT INCENTIVE PLAN Form 990, SCH J, Part I, Line 4A THE COLLEGE ADOPTED A NEW VOLUNTARY SEPARATION PROGRAM FOR FACULTY AND STAFF IN DECEMBER 2013. TO BE ELIGIBLE FOR THE PLAN, THE SUM OF AN EMPLOYEE'S YEARS OF SERVICE PLUS AGE MUST EQUAL A MINIMUM OF 80. THE PROGRAM BENEFITS INCLUDE A ONE-TIME LUMP-SUM PAYMENT EQUAL TO 90% OF BASE PAY FOR EMPLOYEES ELECTING A JUNE 30, 2014 SEPARATION DATE; EMPLOYEES ELECTING TO RETIRE ON JUNE 30, 2015 OR 2016 RECEIVE 70% OF BASE PAY. ALL PARTICIPANTS IN THE COLLEGE HEALTH CARE PLAN RECEIVED A ONE-TIME LUMP-SUM PAYMENT IN LIEU OF PARTICIPATION, AND ALL PARTICIPANTS REMAINED ELIGIBLE FOR COBRA COVERAGE THROUGH THE COLLEGE. Geraldine S. Knortz and Marilyn Cormier received payments under this program which is reported on Schedule J, Part II, Column (B)(iii). Form 990, Sch J, Part I, Line 7 THE BOARD OF TRUSTEES REVIEWS AND APPROVES SALARY FOR THE PRESIDENT. AS PART OF THE OVERALL COMPENSATION PACKAGE, THE PRESIDENT RECEIVES A RETENTION BONUS FOR EACH YEAR OF EMPLOYMENT AFTER THE END OF THE INITIAL APPOINTMENT PERIOD. A VT Educ & Health Bldg Fin Agy Series 2012 237154467 924166FM8 2012-05-24 50990332 CONSTRUCTION, EQUIPMENT, REFUNDING false false false B VT Educ & Health Bldg Fin Agy Series 2015 237154467 924166HA2 2015-11-10 19878706 CONSTRUCTION, EQUIPMENT false false false A 7615000 0 50990332 0 0 0 563023 0 0 27500000 22927309 0 2013 true true true true B 0 0 19878706 0 0 0 378706 0 0 8240987 0 11259013 false false false true A false false true true false 0 false false true B false false false false 0 false false true A false false true false false false 0 false 0 false true B false true false false false false 0 false 0 false true A true B true FINAL ALLOCATIONS OF PROCEEDS AND INVESTMENT BEYOND A TEMPORARY PERIOD PART II, LINES 16-17 AND PART IV, LINE 5 THE 2012 Bonds were used to CONSTRUCT A RESIDENCE HALL AND STUDENT UNION WHICH WAS COMPLETED IN DECEMBER 2013. THE 2015 BONDS ARE BEING USED TO CONSTRUCT AND FURNISH A NEW RESIDENCE HALL. THE COLLEGE MAINTAINS BOOKS AND RECORDS TO SUPPORT ALLOCATION AND TO REQUEST REIMBURSEMENT OF EXPENSES FOR THESE PROJECTS FROM THE BOND TRUSTEE. THE BOND TRUSTEE REVIEWS ALL REQUESTS TO ENSURE THE EXPENSE IS APPROPRIATE WITHIN THE PURPOSE AS DEFINED IN THE BOND DOCUMENTS. THE COLLEGE'S BONDS HAVE NOT BEEN INVESTED BEYOND THE AVAILABLE TEMPORARY PERIOD. THE 2012 BOND CLOSED IN MAY 2012 AND ALL CONSTRUCTION FUNDS WERE EXPENSED BY NOVEMBER 2013. ADOPTION OF MANAGEMENT PRACTICES PART III, LINE 9 AND PART IV, LINE 7 THE COLLEGE HAS WORKED WITH CONSULTANTS AND BOND COUNSEL TO MAKE CERTAIN COLLEGE PERSONNEL IS FAMILIAR WITH THE RULES AND REGULATIONS FOR POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES. ALL USE OF THE BOND FINANCED BUILDINGS ARE TRACKED BY THE COLLEGE'S CONFERENCE AND SPECIAL EVENTS DEPARTMENT. THE COLLEGE'S TAX-EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICY HAS BEEN CREATED, REVIEWED AND IMPLEMENTED BY MANAGEMENT AND APPROVED BY THE BOARD OF TRUSTEES. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION PART V THE COLLEGE'S TAX-EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICIES AND PROCEDURES IDENTIFY AND ADDRESS ANY VIOLATIONS OF FEDERAL TAX REQUIREMENT PURSUANT TO A VOLUNTARY CLOSING AGREEMENT PROGRAM WHERE SELF-REMEDIATION MAY BE UNAVAILABLE. SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 6149503 FOOD SERVICE CONTACT false X 37291 APPRAISED X 22 206113 FMV X 1 85000 APPRAISED X PIANO 1 7500 APPRAISED 3 false true true NON-CASH CONTRIBUTIONS LINE 9 THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RELATED TO EACH TYPE OF PROPERTY THAT WAS RECEIVED DURING FY16. USE OF A THIRD PARTY TO SELL NON-CASH CONTRIBUTIONS PART 1, LINE 32B THE COLLEGE USES A CUSTODIAN TO HOLD AND PROCESS ALL INVESTMENT TRANSACTIONS INCLUDING ASSET SAFEKEEPING AND COLLECTION OF DIVIDENDS AND INTEREST. ALL SECURITY CONTRIBUTIONS ARE DELIVERED TO THE CUSTODIAN WITH THE INSTRUCTION FOR IMMEDIATE SALE. ORGANIZATION'S MISSION STATEMENT FORM 990, PART I, LINE 1 AND PART III, LINE 1 Saint Michael's College is a catholic liberal arts residential college committed to the pursuit of academic excellence, with an undergraduate enrollment of approximately 2,050 students and 700 graduate and international students. We create and sustain an optimal living and learning environment that promotes a vibrant intellectual life and challenges students to engage in activities to extend their minds and experience within and beyond our Vermont location. ACADEMIC SUPPORT AND FINANCIAL SUPPORT FORM 990, PART III, LINES 4A The academic program is at the heart of the Colleges Mission and the reason for Saint Michael's College existence. The College provides education with a social conscience, producing graduates with intellectual tools to lead successful, purposeful lives that will contribute to peace and justice in our world. Saint Michael's College students personalize their education through research, internships, and small classes, preparing them for a lifetime, not just for their first job out of college. The academic program is rigorous and calibrated to the appropriate developmental levels of students (first-year students through graduate level). The undergraduate academic program offers degrees in 23 different majors for the Bachelor of Arts Degree and 12 majors for the Bachelor of Science Degree. Students may also, choose from 36 minor programs. The academic program for graduate students includes 3 programs leading to Masters degrees in Clinical Psychology, Education and Teaching English to Speakers of Other Languages. Saint Michael's College awarded 478 Bachelors degrees and 64 Masters degrees during 2015-2016 academic year with, 2020 students enrolled in Baccalaureate degree programs and 254 in Masters degree programs. The class of 2016 had 417 graduates in May, of which 251 or 60% also earned Minors. Of the 82% of the class of 2016 who graduated with Bachelors degrees and responded to our annual survey, 97% are employed, in graduate school, or volunteering full time within six months of graduation. The 4 year average (2007 2010) student-right-to-know completion or graduation rate is 77.2%; this compared favorably to the 63% reported by Act National Graduation rates in 2016 for private 4-year institutions offering only bachelors degrees in the selective category. The Colleges goal is to have 30% of each graduating class study abroad. Working with over 20 study abroad partner organizations, students have more than 70 countries from which to choose a variety of study abroad options. The College has far exceeded its 30% goal for the past 5 academic years. The College has made strides in educating students beyond the classroom in preparation for their careers after graduation. In 2015-2016, 251 students engaged in supervised academic internships, compared to 292 in the previous year, representing 13.4% of the student body for 2015-2016 compared with 14% for 2014-2015. In the last three summers, 2016, 2015 and 2014, 47 students, 61 students and 39 students were engaged in independent research with professors. The College has a robust honors program which began in the late 1980s, and recognizes high achievement among our students. In 2016, 56 students (12% of the senior class) graduated in the honors program. In the fall of 2016, 508 students from all four classes, about 27% of the student body, were members of the honors program. In addition, Saint Michaels College shelters a chapter of Phi Beta Kappa, Delta Epsilon Sigma and eleven discipline-based honors societies with 231 members of the class of 2016. Saint Michael's College is part of the nations oldest and largest liberal arts academic honor society, Phi Beta Kappa. Only about ten percent of institutions of higher education have chapters. With 286 chapters nationwide, Saint Michael's College is one of only 25 Catholic Colleges in the U.S. and one of four in New England with such a chapter. The College is identified in the 2016 Edition of the Princeton Reviews Best 380 Colleges as one of the nations best institutions for undergraduate education. Saint Michael's College is ranked 99th in national liberal arts colleges by the U.S. News and World Report. Saint Michaels College has been named to Kiplingers Personal Finance list of the Top 300 Best College Values of 2016 and made the magazines list of 100 best values in private universities. Forbes magazines Americas Top Colleges Edition has ranked Saint Michaels College 149th in the best private colleges category and 88th in liberal arts universities. Again this year, Saint Michaels College was included in the 2016 edition of The Princeton Reviews Guide to Green Colleges, recognized for their commitment to sustainability. The Vermont Standards Board for Professional Educators (VSBPE) is responsible for evaluating and approving educator preparation programs at the undergraduate and graduate level and alternate routes to licensure. They approve licensure programs that have successfully demonstrated the capacity to provide prospective educators with the knowledge, skills, experiences, and dispositions needed to foster all students growth. Program approval is valid for seven years. In 2011, Saint Michaels College received full approval for all licensure programs. In 2014 the board reviewed and voted to accept Saint Michaels two year report and granted full approval for all licensure programs. The next ROPA (Results Oriented Program Approval) review date is scheduled for 2018. The academic program is supported by many professional and administrative staff including information technology (IT), academic enrichment programs, library and information services (LIS), registrars office, the Vice President of Academic Affairs and the Dean. The IT department is committed to creating a robust technology environment for the Colleges students, faculty and staff. They support administrative applications, instructional technology services, all of which support the mission and goals of the College by providing its constituents with a reliable, secure, and fast campus network; support for the appropriate integration of technology into teaching and research; and technology support for administrative operations. Saint Michael's College is committed to students academic success therefore, in addition to academic enrichment programs designed to enhance the learning experience, a variety of services are offered to ensure that our students get the most out of their education including independent studies, Peace and Justice Center, Womens Center, service learning, student/faculty research and internships to name a few. These services and activities are designed to assist our students in enhancing their learning opportunities in order to achieve their fullest intellectual development. Academic enrichment also supports faculty in offering extra-curricular activities that enhance their classroom teaching and in designing innovative components to their courses that foster experiential learning. LIS provides students, faculty, and staff with the information resources and services they need for study, teaching and research. The library strives to determine community needs and respond to them by shaping its resources and services to provide the best possible support for the academic program. In order to support our students attending Saint Michael's College, a variety of grants and assistance are awarded. Refer to schedule I, Part IV for additional information. AUXILIARY ENTERPRISES FORM 990, PART III, LINE 4B As a 100% residential college, we make living on campus just as important a learning experience as the curriculum in the classrooms. Therefore, in addition to expenses associated with on-campus dining services, auxiliary services expenses include residence hall bond interest, depreciation expense and costs related to the bookstore, printing and mailing services, special events, summer playhouse and other auxiliary programs that support our students living and learning experience. As part of the residential experience, there are unique housing options available on campus based on common interests that students share such as GREAT (Growing Recognition of the Effects of Alcohol on Thinking) with 150 students, honors housing (51 units) and the GEAR (Global Experience Academic Residential) Program housing (124 students) which provides an opportunity for U.S. students to live with international students. Dining on campus provides the social experience essential to a well-rounded campus life. STUDENT SERVICES FORM 990, PART III, LINE 4C Students are at the center of the Colleges Mission. While the academic elements are foremost, supporting the students personal development is vital as well. The offices of admissions, student life, Edmundite Campus Ministry, Wilderness Program, athletics and many student clubs work to enhance students personal growth as well as their academic success. To supplement the academic culture on campus and enrich overall quality of the college experience, a variety of weekend programs is offered to students, along with many outdoor programs such as the ski pass, cultural and artistic events through the Flynn center-Saint Michaels College cultural pass, a variety of ministry programs, and community service opportunities through Move (Mobilization of Volunteer Efforts). Approximately 80% of students are involved in some form of intercollegiate, intramural, club, recreation, personal fitness, or wilderness program offering. Approximately 22% of Saint Michael's College students participate in one of the 21 varsity sports. Our student athletes have achieved a 98% academic success rate (ASR); a statistic defined by the NCAA as a measurement of graduation within a 6 year cohort time period as of June 2016. Saint Michaels College has again been recognized as a recipient of the Division II Presidents Award for Academic Excellence as a member of the Northeast-10 Conference. SMC achieved the highest Academic Success Rate (ASR) in the conference, and ranked #2 in the nation. The office of student activities strives to provide students opportunities to develop as ethical leaders and engaged citizens, and offers a wide variety of programs and activities designed to meet their needs. The College has embraced the You Count program (Community, Ownership, Unity in Diversity, Notice Each Other and Take Care of Self and others) which fosters an inclusive and seamless learning environment that enhances engagement, awareness and personal development. Educational programs offered in the residence halls help to bring people together who might not have otherwise met, help people to better know each other, and expose individuals to new ideas and beliefs. Floor visitors dialogue programs provide an environment conducive for faculty, staff and student dialogue about academic and community pursuits. These are a sample of the programming offered to students in the residence halls. The office of student activities assists the student government on campus as well as student clubs. Approximately 95% of the student population participates in student activities programs. The College embraces and supports students commitment to community services reflected by the fact that about 65% of our students participate in a service activity through our MOVE program part of Edmundite Campus Ministry. The fundamental objective of Edmundite Campus Ministry is to help students, faculty and staff reflect on and celebrate the spiritual and religious dimensions of their lives while at Saint Michael's College. Programs such as retreats, liturgies, spiritual direction, and prayerful reflection meals are designed to encourage everyone to step back and experience life at its deepest, most meaningful level. About 12-13% of our student population is involved in weekly or daily worship as well as attendance in these programs. Other Program Services FORM 990, PART III, LINE 4D Other program service expenses include public service and research. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 Form 990 schedules are prepared by College personnel with guidance and review from external tax preparers who sign and file the form. Prior to filing with the Internal Revenue Service each member of the Board of Trustees was provided Form 990 and all schedules, except Schedule B, contribution detail, in order to respect our donors confidentiality. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Secretary of the College distributes the conflict of interest policy, questionnaire and certification annually to trustees, officers and key employees. The Secretary reviews the responses and potential conflicts are brought to the Trusteeship and Mission Committee for review and resolution. A list of interlocking boards is maintained to assist in determining if potential conflicts arise during the year. The Trusteeship and Mission Committee submits names for board recruitment and vets any conflict issues. This Committee provides information to the Executive Committee for consideration and nomination. DOCUMENT RETENTION AND DESTRUCTION POLICY FORM 990, PART VI, SECTION B, LINE 14 The College has a high-level document retention and destruction policy and follows specific guidelines provided by the Internal Revenue Service and relevant regulations with respect to records retention and destruction including the provisions of Vermont Law (9 VSA Part 3 Chapter 62 Subchapter 4 Document Safe Destruction Act) with respect to disposal of documents containing confidential information. Another resource utilized by the College is "Record Retention and Disposal: A Manual for College Decision Makers", which provides the College with a guide to the applicable laws, regulations and other considerations for all areas of our business, including employment and admissions applications, payroll, student records, financial, tax and contributions records as well as federal reporting specific to the higher education idnustry. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 The Executive Committee of the Board of Trustees, excluding the College President, is responsible for establishing and maintaining a competitive compensation program for the executive officers of the College. The Executive Committee meets as needed to review the compensation program and make recommendations for any changes. The Executive Committee has the responsibility for decisions regarding compensation in all its current and potential forms for the executive officers of the College. The Vice President of Human Resources provides independent compensation data, e.g. NACUBO, CUPA, etc. and analysis to the Executive Committee. The Executive Committee meets annually, usually while the Trustees are here for the March or June Board meeting, to review survey data regarding compensation for the President and other officers of the College. The last meeting was on October 20, 2016. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. PUBLIC DISCLOSURE POLICY FORM 990, PART VI, SECTION C, LINE 19 The College is a private organization and therefore by law, is not required to make its governing documents, conflict of interest policy or financial statements available to the public. In the interest of transparency, the College complies with requests for this information from federal and state regulatory agencies, our accreditation agency, other entities or individuals in the ordinary course of business. The College posts the most recent three years of Form 990 and 990-T on our website. FORM 990, PART XI, LINE 11 Gross receipts from the golf classic 21,671 SAINT MICHAEL'S COLLEGE FIRE & RESCUE ONE WINOOSKI PARK COLCHESTER VT 05439 201120657 FIRE & RESCUE VT 501(C)(3) 7 NA true MERRILL CEMETERY ASSOCIATION INC ONE WINOOSKI PARK COLCHESTER VT 05439 010868920 CEMETERY VT 501(C)(13) NA true GREEN MTN HIGHER EDUCATION CONSORTIUM 84 SOUTH SERVICE ROAD MIDDLEBURY VT 05753 901113280 CONSORTIUM VT 501(c)(3) 509(a)(3) I N/A true false false false false false true false false false false false false false true true true true false false SAINT MICHAEL'S COLLEGE FIRE AND RESCUE N 76751 FMV SAINT MICHAEL'S COLLEGE FIRE AND RESCUE Q 230808 COST