2017-04-12T16:06:36-05:00 2016-05-31 GRANT THORNTON LLP 757 THIRD AVE 3RD FLOOR NEW YORK NY 100172013 990 2015-06-01 237223216 SARAH LAWRENCE COLLEGE % BRENT PARKER CONTROLLER SARA 9143952556 1 MEAD WAY BRONXVILLE NY 10708 STEPHEN SCHAFER vp finance 9143952556 2017-04-12 true Daniel Romano P00504182 2125990100 2015 2021-01-29 14:40:06Z KAREN LAWRENCE PRESIDENT 1 MEAD WAY BRONXVILLE NY 107085999 127029093 false X www.sarahlawrence.edu X 1926 NY sarah lawrence college is a four-year LIBERAL ARTS COLLEGE OFFERING SELECT GRADUATE PROGRAMS ON ITS MAIN CAMPUS AND 5 UNDERGRADuate OVERSEAS PROGRAMS. 25 23 1801 600 64611 -52039 29330686 7592156 95136585 90546174 4765800 3427298 458229 529108 129691300 102094736 31644186 30673593 0 0 46486940 47529584 0 0 4225450 32677516 32382901 110808642 110586078 18882658 -8491342 216499223 204843298 81296719 81141932 135202504 123701366 X At Sarah Lawrence College, our mission is to graduate citizens of the world who are diverse in every definition of the word, who take intellectual and creative risks, and who are able to focus exceptional intellectual discipline within a framework of humanistic values and concern for community. Our unique educational practices, including unparalleled time with faculty, aim at preparing the whole student to solve problems in new ways, to cross disciplinary boundaries, and to think and act independently as they become protagonists on the world stage. false false 79130103 29281640 66881349 Undergraduate Programs: The freedom to steer your own education has always been the basis of Sarah Lawrence's academic model. Students create a course of study that is uniquely theirs, and includes a 9:1 student-to-faculty ratio that becomes 1:1 in bi-weekly conferences with faculty. They receive a level of intellectual and creative guidance that is unparalleled in undergraduate education. Our 1,205 students can focus in any of our nearly 50 disciplines on our campus or in overseas programs in London, Oxford, Paris, Florence and Havana. 5324986 1391953 7073198 Graduate Programs: Sarah Lawrence College offers its 295 graduate students nine distinctive master's degree and various non-degree and certificate programs which include the areas of writing, theatre, women's history, dance, child development, art of teaching, human genetics, health advocacy and Dance Movement Therapy. 8412659 0 14736765 Auxiliary Enterprises: Sarah Lawrence College provides students with a wide range of living and dining experiences. On-campus housing for 1,016 students includes many unique options, from converted houses to traditional suite-style residence halls. Sarah Lawrence dining options include a variety of cuisine options, including organic fare. 518670 0 1854862 93386418 true true false false false false false false false true true true false false true true true false true true true false false false false false false false true true true false false false false false false false false false false true false false false false true true true false false true 351 0 true 1801 true true true true FR IT UK false false false true true false false false false X 25 23 false false false false false false false true true false false true true true true true true true true false X BRENT PARKER CONTROLLER 9143952556 1 MEAD WAY BRONXVILLE NY 107085999 RONA CARR TRUSTEE 1.0 0.0 X 0 0 0 CAROL CHRIST TRUSTEE 1.0 0.0 X 0 0 0 NANCIE COOPER VICE CHAIRPERSON 2.0 0.0 X X 0 0 0 LAURA DONNELLEY TRUSTEE 1.0 0.0 X 0 0 0 DAVID DULL TRUSTEE 1.0 0.0 X 0 0 0 BETH-ANN FISCHER GENTILE TRUSTEE 1.0 0.0 X 0 0 0 VICKI FORD TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM GOETZMANN TRUSTEE 1.0 0.0 X 0 0 0 MARK GOODMAN VICE CHAIRPERSON 2.0 0.0 X X 0 0 0 SARAH GRAY GUND TRUSTEE 1.0 0.0 X 0 0 0 JOHN HILL CHAIR OF THE BOARD 2.0 0.0 X X 0 0 0 CLARION JOHNSON TRUSTEE 1.0 0.0 X 0 0 0 Karen Lawrence PRESIDENT 40.0 0.0 X X 376933 0 147278 JOHN LILLY TRUSTEE 1.0 0.0 X 0 0 0 NANCY MILLER MONTGOMERY TRUSTEE 1.0 0.0 X 0 0 0 DAVID NETTO TRUSTEE 1.0 0.0 X 0 0 0 TRACEY RIESE TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL STUTZMAN TRUSTEE 1.0 0.0 X 0 0 0 PETER VAN DIJK TRUSTEE 1.0 0.0 X 0 0 0 RACHEL ZEBROWSKI TRUSTEE 1.0 0.0 X 0 0 0 Diana Sandigo Cabrera Trustee 1.0 0.0 X 0 0 0 Brian Morton Faculty/Trustee 40.0 0.0 X 97558 0 29524 Holly Robinson Peete Trustee 1.0 0.0 X 0 0 0 Winifred R Scheuer Trustee 1.0 0.0 X 0 0 0 Gregg Horowitz Trustee 1.0 0.0 X 0 0 0 Thomas Blum VP Administration 40.0 0.0 X 180384 0 36306 Julie Auster VP of Human Resources 40.0 0.0 X 147476 0 33544 Allen Green as of 8115 Dean of Equity and Inclusion 40.0 0.0 X 155568 0 58534 Charles Rasberry VP for Advancement 40.0 0.0 X 251083 0 43005 Kevin McKenna VP Admissions 40.0 0.0 X 150573 0 21422 Carolyn Chamberlin VP Communications 40.0 0.0 X 150584 0 21372 Kanwal Singh as of 8115 Dean of the College 40.0 0.0 X 132482 0 33550 Stephen Schafer as of 1116 VP Finance & Operations 40.0 0.0 X 0 0 0 Daniel Trujillo Dean of Studies (as of 8/1/15) 40.0 0.0 X 56203 0 12451 Jerrilyn Dodds Dean thru 7/31/15 then Faculty 40.0 0.0 X 195208 0 17134 Sean Jameson Director Information Systems 40.0 0.0 X 144070 0 39615 Ellen Reynolds Associate VP Advancement 40.0 0.0 X 159508 0 14000 Brent Parker Controller 40.0 0.0 X 163605 0 35827 Judith Babbitts Dean of Grad. & Prof. Studies 40.0 0.0 X 142980 0 33877 Vincent Massaro VP Finance & Operations 0.0 0.0 X 166250 0 18631 2670465 0 596070 75 true true false AVI Fresh 2920 Elm Road NE WARREN OH 44483 Food Service 5113420 ABM Janitorial Services 551 Fifth Ave Suite 300 NEW YORK NY 10176 janitorial service 1062450 Sametz Blackstone Associates 40 W Newton Street BOSTON MA 02118 Branding 735274 Flora Landscaping LTD PO Box 654 BRONXVILLE NY 10704 Landscaping 612877 DHI Construction Services Inc 3000 Marcus Ave Ste 1W12 LAKE SUCCESS NY 11042 Construction 466362 43 694563 6897593 358702 7592156 UNDERGRADUATE TUITION AND FEES 611600 66881349 66881349 GRADUATE TUITION AND FEES 611600 7073198 7073198 AUXILIARY ENTERPRISES 611710 14736765 14736765 OTHER EDUCATION PROGRAMS 611600 1854862 1854862 90546174 1029021 64611 964410 0 0 529108 529108 0 529108 529108 27332634 24934357 2398277 2398277 2398277 0 0 0 0 102094736 90546174 64611 3891795 0 30673593 30673593 0 0 3326017 430405 2418139 477473 0 32271141 25377473 4748744 2144924 1979872 1556937 291341 131594 7561516 5564816 1442073 554627 2391038 1759658 456000 175380 0 269313 57442 211871 217699 6689 211010 0 0 103625 103625 1160250 1072651 73560 14039 404488 46091 357275 1122 2062231 1569622 322459 170150 1038728 1038728 0 2561733 2368322 162414 30997 1487061 978299 160125 348637 0 388975 311251 73603 4121 2872289 2655431 182103 34755 0 4228028 3908812 268057 51159 696539 643951 44160 8428 FOREIGN PROGRAM COSTS 4554157 4554157 0 0 CONTRACTED FOOD SERVICE COSTS 3887908 3887908 0 0 HOUSEKEEPING & MAINTENANCE 3649884 3374317 231403 44164 BUILDING REPAIR & RENOVATION 935702 865056 59324 11322 1864291 1723537 118196 22558 110586078 93386418 12974210 4225450 0 0 6950501 4598861 25974965 17239805 144982 188597 0 0 0 0 1028723 971760 0 0 790264 980709 131650200 49689287 83406630 81960913 2341278 3100649 93155247 93430948 0 0 0 0 2706633 2371056 216499223 204843298 7452877 7307007 0 0 3198079 4135841 43500000 42825000 0 0 0 0 5250802 4923506 9500000 10000000 12394961 11950578 81296719 81141932 X 32524081 22705540 35320060 32270559 67358363 68725267 135202504 123701366 216499223 204843298 X -8491342 -3363013 353217 X false true X true true true X 10259827 19521998 10212763 29330686 7592156 76917430 0 0 10259827 19521998 10212763 29330686 7592156 76917430 29198941 47718489 66363 80701 55694 292806 1493518 1989082 1287 0 7429 170585 64611 243912 11472 4313 7215 0 0 23000 79173424 448872629 0.60271 0.99000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91180191 8768620 -1151771 4322845 4415261 103625 89955309 87213796 4213400 5264395 3728381 1683996 99023 91180191 75768291 6550543 10581224 1141771 4441103 103388 87213796 66016091 5920539 10459314 1080349 5430773 116531 75768291 74591964 1685381 -4141977 1095784 4918030 102463 66019091 0.19970 0.69330 0.10700 false false 5644865 5644865 114588671 42022410 72566261 11032002 7666878 3365124 384663 384663 81960913 FIXED INCOME FUNDS 7239687 F GLOBAL EQUITY FUNDS 49171834 F HEDGED EQUITIES FUNDS 2640357 F RELATIVE VALUE FUNDS 4327337 F REAL ASSETS FUNDS 8554406 F PRIVATE EQUITY & VENTURE FUNDS 19061481 F LT SPLIT-INTEREST INVESTMENTS 1877784 F CASH IN SPLIT-INTEREST AGREEMT 558062 F 93430948 0 ANNUITIES PAYABLE 2418770 US GOV'T GRANTS REFUNDABLE 995516 POSTRETIREMENT HEALTH&LIFE INS 8120467 ASSET RETIREMENT OBLIGATION 415825 11950578 X 68307722 -3363013 353217 -3009796 71317518 103625 30673593 30777218 102094736 79808860 79808860 103625 30673593 30777218 110586078 SUPPLEMENTAL INFORMATION PART V LINE 4 THE COLLEGE'S INTENDED USE OF THE ENDOWMENT FUNDS IS FOR ACADEMIC PROGRAMS, LIBRARY ACQUISITIONS, SCHOLARSHIPS AND FELLOWSHIPS, FACULTY SALARIES and other designated purposes. PART XI LINE 2D Gain NOT YET RECOGNIZED AS A COMPONENT OF net PERIODIC PENSION COST $1,092,432 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS ($739,215) PART XI LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $30,673,593 PART XII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $30,673,593. SCHEDULE D, PART X, FIN 48 The College follows the FASB's accounting guidance Topic 740, "Accounting for Uncertainty in Income Taxes", which 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 section provides that the tax effects from an uncertain tax position can be recognized in the financial statements only 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 income tax under IRC Section 501(c)(3), though it is subject to tax on income unrelated to its exempt purposes, unless that income is otherwise excluded by the Code. The tax years ending May 31, 2013, 2014, 2015 and 2016 are still open to audit for both federal and state purposes. The College has not identified anything which is an uncertain tax position at this time. true true true true true true true false false false false false false false false true false true Schedule E Part I Line 3 NON-DISCRIMINATORY POLICY NON-DISCRIMINATORY POLICY REGARDING STUDENT ADMISSIONS AND EMPLOYMENT POLICIES ARE ON THE COLLEGE'S PUBLIC WEBSITE AT WWW.SARAHLAWRENCE.EDU. NON-DISCRIMINATORY POLICIES ARE ALSO PRINTED IN STUDENTS ADMISSIONS APPLICATION, STUDENTS HANDBOOK, COLLEGE CATALOGUE, ETC. Schedule E Explanation for Line 6A FEDERAL CAMPUS-BASED STUDENT AID FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION. THE COLLEGE ALSO RECEIVES FUNDS FROM VARIOUS AGENCIES AS RESEARCH AND TRAINING GRANTS. Europe (Including Iceland and Greenland) 2 4 Program Services UNDERGRAD EDUCATION 4410658 Central America and the Caribbean 2 Program Services UNDERGRAD EDUCATION 494429 2 6 2 6 4905087 4905087 true false true true true false Schedule F, Part I Line 3 Column F The programmatic expenditures reported in Part 1 represent direct expenditures incurred on the accrual basis associated with the College's Study Abroad programs in England, France, Italy, and Cuba. The amounts reported on Part I are identified on a reasonable efforts basis where such activities were not tracked separately under the College's accounting procedures. Schedule F, Part IV Sarah Lawrence College invests in domestic and foreign limited partnerships that may own an interest in a foreign corporation, passive foreign investment company, or foreign partnership. Nevertheless, the College's investment activities may not reach the thresholds required for filing the Forms 926, 5471, 8621 or 8865. To the extent such a form was completed, it has been filed with the Organization's Form 990-T. true Scholarships & Fellowships to eligible students 1241 30673593 SUPPLEMENTAL INFORMATION A LIST OF RECIPIENTS OF SCHOLARSHIPS IS ON FILE AT THE COLLEGE. THE RECIPIeNTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS ESTABLISHED BY THE COLLEGE COMMITTEES THAT JUDGE THE APPLICANTS. THE COLLEGE HAS PROCEDURES THAT ARE DESIGNED TO ENSURE THAT INDIVIDUALS FROM THE COLLEGE QUALIFY TO RECEIVE PAYMENTS. THE COLLEGE'S FINANCIAL AID OFFICE ENSURES THAT GRANTS AND AWARDS ARE IN COMPLIANCE WITH PROCEDURES ESTABLISHED BY THE COLLEGE. X X X X true true X X X true true false false false false false false false Karen Lawrence PRESIDENT 356900 0 0 0 20033 0 62978 0 84300 0 524211 0 0 0 Thomas Blum VP Administration 180384 0 0 0 0 0 15079 0 21227 0 216690 0 0 0 Julie Auster VP of Human Resources 147476 0 0 0 0 0 12317 0 21227 0 181020 0 0 0 Allen Green as of 8115 Dean of Equity and Inclusion 155568 0 0 0 0 0 13307 0 45227 0 214102 0 0 0 Jerrilyn Dodds Dean thru 7/31/15 then Faculty 195208 0 0 0 0 0 16812 0 322 0 212342 0 0 0 Charles Rasberry VP for Advancement 251083 0 0 0 0 0 21728 0 21277 0 294088 0 0 0 Vincent Massaro VP Finance & Operations 47500 0 0 0 118750 0 3967 0 14664 0 184881 0 0 0 Kevin McKenna VP Admissions 150573 0 0 0 0 0 13250 0 8172 0 171995 0 0 0 Sean Jameson Director Information Systems 144070 0 0 0 0 0 13338 0 26277 0 183685 0 0 0 Ellen Reynolds Associate VP Advancement 159508 0 0 0 0 0 13678 0 322 0 173508 0 0 0 Carolyn Chamberlin VP Communications 150584 0 0 0 0 0 13200 0 8172 0 171956 0 0 0 Kanwal Singh as of 8115 Dean of the College 132482 0 0 0 0 0 12323 0 21227 0 166032 0 0 0 Brent Parker Controller 163605 0 0 0 0 0 14600 0 21227 0 199432 0 0 0 Judith Babbitts Dean of Grad. & Prof. Studies 142980 0 0 0 0 0 12650 0 21227 0 176857 0 0 0 Part I Line 1a TRAVEL FOR COMPANIONS ON OCCASION, THE PRESIDENT'S SPOUSE WILL ACCOMPANY HER ON TRIPS THAT FURTHER THE COLLEGE'S OVERALL EDUCATIONAL MISSION. ALL EXPENDITURES INCURRED FOR SPOUSAL TRAVEL ARE DEEMED TO BE TAXABLE EXPENDITURES AND ARE, THUS, INCLUDED IN THE PRESIDENT'S WAGES. THESE AMOUNTS ARE GROSSed-UP TO COVER THE ASSOCIATED TAX LIABILITY. THESE AMOUNTS HAVE BEEN REPORTED IN FORM 990, SCHEDULE J, COLUMN (B)(III) AND TOTALED $8,961. HOUSING ALLOWANCE FOR RESIDENCE OR PERSONAL USE THE COLLEGE HOUSES THE PRESIDENT, (KAREN LAWRENCE), and THE DEAN OF STUDIES AND DIVERSITY OFFICER, (ALLEN GREEN). THIS HOUSING IS REQUIRED BY THE NATURE OF THEIR POSITIONS AND IS A CONDITION OF THEIR EMPLOYMENT. These amounts have been reported in Form 990, schedule J, column (D) and totaled $76,128 and $24,000, respectively. PERSONAL SERVICES The President's house serves not only as a residence, but also as a host location for many college events and the college provides staff to maintain the home. THESE INCIDENTAL COSTS ARE NOT DEEMED TAXABLE TO THE PRESIDENT. SCHEDULE J, PART I, LINE 4A The College has entered into a confidential employment separation agreement with one or more employees during calendar year 2015. Amounts associated with these agreements are reported as part of the totals in Schedule J. SCHEDULE J, PART I, LINE 4B The President, Karen Lawrence, participates in a supplemental nonqualified Section 457(f) deferred compensation plan. Ms. Lawrence received $30,000 in contributions to the plan, which was included in taxable income. A City of Yonkers Industrial Development Agency 521294255 986083ca9 2009-12-01 44217481 CITY OF YONKERS IND. DEV AGENC false false false A 1392481 0 44217481 0 0 569901 0 0 0 5670179 37977301 0 2009 true false true true A false false false false 0 false false false true A false false false true false false 0 false 0 false true A true Form 990, Schedule K, Part IV, Line 2c The rebate computation was performed on January 22, 2016. X 39 358702 FAIR MARKET VALUE false true true PART I, LINE 32A To the extent that the College receives donations of securities, it utilizes its third party broker to dispose of them and convert into cash for use in fulfilling its educational mission. FORM 990, PART III, LINE 4D OTHER PROGRAMS Other educational programs consisting of non-credit continuing education programs, special non-credit courses for adults, (language, photography, swimming and fitness, etc.), writing institute classes, certificate courses, and early childhood programs. FORM 990, PART VI, SECTION B, LINE 11 990 REVIEW PROCESS The Form 990 was prepared by an independent accounting firm in conjunction with the College's Controller's Office. A draft of the 990 was sent to each member of the Audit Committee of the Board to review. A final complete copy of the 990 was placed on the Colleges password-protected trustee page for review by each Board member prior to filing. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY The Secretary of the College regularly and consistently monitors and enforces the conflict of interest policy. Annually, the Trustees are sent the College's conflict of interest policy by the Secretary of the College. Compliance is acknowledged by signature and return of the signed statement. At the same time, a disclosure statement is completed in order to disclose any potential conflict of interest with the College. The policy requires disclosure of all potential conflicts of interest to the Secretary, or Chair of the Board, as soon as possible after the Trustee learns of the conflict. All disclosed potential conflicts of interest are presented to the Board with the material facts for discussion and decision for approval. The Board sets forth its basis in the minutes of the meeting in which the decision was made. FORM 990, PART VI, SECTION B, LINE 15a and 15b DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES The Executive Committee, comprised of independent Trustees, meets annually to fix the compensation of the President, the faculty Trustee, and other officers who are not Trustees. The Secretary of the Board of Trustees meets with the Executive Committee at the end of each academic year to present objective comparative information on all officers of the College. Data is collected from objective comparative peer groups. The President presents to the Committee the annual evaluation and salary recommendation for each officer for the following academic year. The Committee approves the new salaries. The Committee determines and approves the President's salary. The determination is documented in the contemporaneous meeting minutes. This process was last undertaken on June 23, 2016. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS, POLICY, AND FINANCIALS The conflict of interest policy is available on the College's website. The College's Financial Statements and governing documents are made available by request at management's discretion. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS Gain NOT YET RECOGNIZED AS A COMPONENT OF net PERIODIC PENSION COST $1,092,432 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS ($739,215) -------------- TOTAL $353,217 Sarah Lawrence at Oxford Wadham College Oxford Endland UK OX1 3PN Education UK SLC true Charitable Remainder Trusts (18) N/A NA true false false false false false false false false false false false false false false true false false false Sarah Lawrence at Oxford (p) 1039438 COST Schedule R Part II Line (1) and Part V Line (2) Related Organizations Sarah Lawrence College operates several educational programs outside the United States. The program in Oxford, England required the College to set up a separate legal entity. The entity is listed in Schedule R of Form 990, as required. The program and financial information contained in this Form 990 includes the activity of the Sarah Lawrence at Oxford program since the operations are conducted as a program of the College, and is not easily separable.