2016-02-11T09:29:26-06:00 2015-06-30 132871428 FUNARO & CO PC 350 FIFTH AVE 41ST FLR NEW YORK NY 10118 990 2014-07-01 237075717 FRANKLIN UNIVERSITY SWITZERLAND INC FRAN 2129229650 420 LEXINGTON AVENUE NO 2746 NEW YORK NY 10170 PASCAL TONE CHAIRMAN 2129229650 2016-01-26 1 JOSEPH M CATALANO P01317840 2129473333 2014 2016-04-25 22:37:26Z PASCAL TONE 420 LEXINGTON AVENUE NEW YORK NY 10170 23713838 0 X WWW.FUS.EDU X 1970 DE TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 23 0 8 0 0 0 631798 518610 24148852 22618474 48909 70095 759113 364951 25588672 23572130 5421486 5573939 0 0 8479041 8123987 0 0 586434 11819481 10997408 25720008 24695334 -131336 -1123204 38202621 36320862 29153789 28395234 9048832 7925628 FRANKLIN COLLEGE IS A NONPROFIT ORGANIZATION WHOSE OBJECTIVE IS TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 0 0 19083927 5573939 305090 OPERATIONS OF A FOUR YEAR ACCREDITED COLLEGE WITH AN AVERAGE ENROLLMENT OF 386 STUDENTS 19083927 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 7 0 1 8 1 0 1 SZ 0 0 0 0 0 0 X 23 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X PALMETTO MOLLO MOLINARO & SCIACCA 6317618989 91 BROADHOLLOW ROAD MELVILLE NY 11747 ANGELA W FOWLER TRUSTEE 0.00 X 0 0 0 CABELL GOOLSBY WEST TRUSTEE 0.00 X 0 0 0 DEIRDRE KINNEY-BRENNAN TRUSTEE 0.00 X 0 0 0 DENISE H ALFELD TRUSTEE 0.00 X 0 0 0 DR FRANK M DWIGGINS TRUSTEE 0.00 X 0 0 0 DR FULVIO PELLI TRUSTEE 1.00 X 10000 0 0 DR JEFFREY REIMER TRUSTEE 0.00 X 0 0 0 JAY TUCKER TRUSTEE 0.00 X 0 0 0 JENNIFER BERG TRUSTEE 0.00 X 0 0 0 JOHN READ TAYLOR TRUSTEE 0.00 X 0 0 0 KEVIN W MCNEELY TRUSTEE 0.00 X 0 0 0 KIM HILDEBRANT TRUSTEE 0.00 X 0 0 0 LAURENT BELET TRUSTEE 0.00 X 0 0 0 LORRAINE GRACE TRUSTEE 0.00 X 0 0 0 LUCIUS L FOWLER TRUSTEE 0.00 X 0 0 0 MARGARET OSMER MCQUADE TRUSTEE 0.00 X 0 0 0 NINA KALETSCH TRUSTEE 0.00 X 0 0 0 PAOLO GRASSI TRUSTEE 0.00 X 0 0 0 PASCAL F TONE CHAIRMAN 0.00 X 0 0 0 PAUL C LOWERRE TRUSTEE 0.00 X 0 0 0 PETER ASCHENBRENNER TRUSTEE 0.00 X 0 0 0 PHILIP RENAUD TRUSTEE 0.00 X 0 0 0 RICHARD H BELL II TRUSTEE 0.00 X 0 0 0 SCOTT I OAKFORD TRUSTEE 0.00 X 0 0 0 LUSYD W DOOLITTLE TRUSTEE 0.00 X 0 0 0 INIGO GARCIA TRUSTEE 0.00 X 0 0 0 JENNIFER RALEY TRUSTEE 0.00 X 0 0 0 DR P GREGORY WARDEN PRESIDENT 40.00 X X 315396 0 0 ROBERT PALLONE VP ADVANCEMENT 40.00 X 176064 0 0 DR TOMASO RIZZI VP FINANCE & ADMIN 40.00 X 156915 0 0 SANJA DUDUKOVIC PROFESSOR 40.00 X 119468 0 0 ANDREA TERZI PROFESSOR 40.00 X 131915 0 0 SARA STEINERT-BORELLA DEAN 40.00 X 130851 0 0 MORRIS MOTTALE PROFESSOR 40.00 X 126277 0 0 ANDREA BARDELLI DANIELI DIRECTOR OF MARKETING 40.00 X 127660 0 0 DR ERIK O NIELSEN FORMER PRESIDENT 0.00 X 0 0 244162 1294546 0 244162 11 1 1 0 COLT TELECOMMUNICATIONS MURTSCHENSTRASSE 27 ZURICH SZ 6864 TELECOMMUNICATIONS 177597 KPMG VIA BALESTRA 33 LUGANO SZ 6901 AUDITING 141414 GUFFANTI G VIA RICCARDO ROSSI 15 ARZO SZ 6864 CLEANING SERVICES 116739 3 518610 132193 518610 TUITION, ROOM & BOARD 611710 16152449 16152449 AUXILIARY ENTERPRISES 611710 4511719 4511719 EDUCATIONAL ACTIVITIES 611710 1954306 1954306 22618474 67967 67967 59861 0 59861 59861 59861 2128 0 2128 2128 2128 105951 141708 -35757 -35757 OTHER OPERATING REVENUE 611710 340847 340847 340847 23572130 305090 0 22748430 X 5573939 5573939 658375 658375 244162 244162 5989631 5989631 483165 483165 192391 192391 556263 556263 20867 20867 100387 100387 673567 673567 1124300 1124300 AUXILIARY ENTERPRISES E 3335078 3335078 STUDENT SERVICES 2398382 2398382 INSTITUTIONAL SUPPORT 1184584 598150 586434 ACADEMIC SUPPORT 1164782 1164782 995461 995461 24695334 19083927 5024973 586434 3661519 4647750 1484898 1424765 1731453 1611681 163234 91171 215730 198935 693178 552631 47144504 21390558 27929088 25753946 133683 125865 2189838 1914118 38202621 36320862 183005 243068 23864607 22244149 5106177 5908017 29153789 28395234 X 2502318 1141595 5569579 5732755 976935 1051278 9048832 7925628 38202621 36320862 -1123204 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4999 377999 X 0 0 976935 34862 39481 1051278 941230 4369 86336 55000 976935 2916073 32850 233227 2216920 24000 941230 2777072 102023 51591 6663 7950 2916073 2588993 61246 126833 2777072 0.00000 1.00000 0.00000 0 0 7421917 7421917 31465317 14813301 16652016 7884270 6577257 1307013 373000 373000 25753946 CHARITABLE REMAINDER UNITRUST 187890 CONSTRUCTION IN PROGRESS 1726228 1914118 TUITION & ROOM DEPOSITS 1844979 PENSION BENEFITS 2734399 ACCRUED EXPENSES 1300032 DEFERRED RENT 28607 5908017 X 18137771 -5573939 -5573939 23711710 -139580 -139580 23572130 19260975 139580 139580 19121395 5573939 5573939 24695334 PART X, LINE 2: FINANCIAL STATEMENTS - FOOTNOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES IN ACCORDANCE WITH FASB ASC SUBTOPIC 740, INCOME TAXES, FRANKLIN UNIVERSITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. AS OF JUNE 30, 2015 AND 2014, FRANKLIN UNIVERSITY RECORDED NO LIABILITY FOR UNCERTAIN TAX POSITIONS, AS ALL OF ITS TAX POSITIONS WERE CONSIDERED HIGHLY CERTAIN OF BEING RECOGNIZED FOR INCOME TAX PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS (INCLUDED ON 990 PAGE 10) -5,573,939. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF FIXED ASSET (INCLUDED IN EXPENSES PER F/S) 2,128. COST OF GOOD SOLD (INCLUDED IN EXPENSES PER F/S) -141,708. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON SALE OF FIXED ASSET (INCLUDED ON 990 PAGE 9) -2,128. COST OF GOOD SOLD (INCLUDED ON 990 PAGE 9) 141,708. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS (INCLUDED IN REVENUE PER F/S) 5,573,939. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 FRANKLIN'S DISCRIMINAION POLICY IS INCLUDED ON ITS WEBSITE AS WELL AS IN ITS ACADEMIC CATALOG WHICH IS DISTRIBUTED UPON REQUEST. IT STATES "FRANKLIN COLLEGE DOES NOT DISCRIMINATE IN ITS ADMISSION AND FINANCIAL AID POLICIES AND PRACTICES ON THE BASIS OF FACTORS SUCH AS RACE, SEX, SEXUAL ORIENTATION, AGE, COLOR, RELIGION OR REGIONAL ORIGIN." 1 SWITZERLAND 1 113 PROGRAM SERVICES EDUCATION 24319321 1 113 0 0 1 113 24319321 0 24319321 FINANCIAL AID SWITZERLAND 180 2165769 CREDIT TO ACCOUNT N/A N/A MERIT AWARDS SWITZERLAND 253 2984202 CREDIT TO ACCOUNT N/A N/A FLY FREE AWARDS SWITZERLAND 89 35768 CREDIT TO ACCOUNT N/A N/A CCIS SWITZERLAND 15 78116 CREDIT TO ACCOUNT N/A N/A INSTITUTIONAL AGREEMENTS SWITZERLAND 4 136414 CREDIT TO ACCOUNT N/A N/A LIFE LONG LEARNING SCHOLARSHIPS SWITZERLAND 137 173671 CREDIT TO ACCOUNT N/A N/A 0 0 0 0 0 0 PART I, LINE 2: STUDENT RECIPIENTS OF SCHOLARSHIPS AND MERIT AWARDS ARE SELECTED BY THE UNIVERSITY BASED ON A NUMBER OF QUALIFICATIONS INCLUDING: FOR FINANCIAL AID, A STUDENT MUST DEMONSTRATE A FINANCIAL NEED BASED ON THE STUDENT'S FAFSA. THE STUDENT'S GPA IS ALSO CONSIDERED AND MUST BE AT LEAST 2.5. OTHER AWARDS REQUIRE A GPA OF AT LEAST 2.8. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 DR P GREGORY WARDEN PRESIDENT 315396 0 0 0 0 0 0 0 0 0 315396 0 0 0 ROBERT PALLONE VP ADVANCEMENT 176064 0 0 0 0 0 0 0 0 0 176064 0 0 0 DR TOMASO RIZZI VP FINANCE & ADMIN 156915 0 0 0 0 0 0 0 0 0 156915 0 0 0 DR ERIK O NIELSEN FORMER PRESIDENT 0 0 0 0 0 0 244162 0 0 0 244162 0 0 0 PART I, LINE 1A THE PRESIDENT, AS WELL AS HIS WIFE, ARE ENTITLED TO FIRST-CLASS TRAVEL FOR THOSE TRIPS CONSIDERED FOR THE BENEFIT OF THE INSTITUTION. ALSO, HE IS ENTITLED TO A HOUSING ALLOWANCE FOR HOUSING WHICH IS IN CLOSE PROXIMITY TO THE CAMPUS. COMPENSATION AND SOME BENEFITS ARE TAXABLE UNDER LOCAL SWISS LAW, HOWEVER, BOTH ITEMS INDICATED ABOVE ARE NOT CONSIDERED TAXABLE COMPENSATION AND THEREFORE, NOT TREATED AS SUCH. X 4999 MARKET VALUE X 5 127194 MARKET VALUE 0 1 1 PART I, COLUMN (B): STOCK CONTRIBUTIONS MADE BY 5 INDIVIDUALS THROUGHOUT THE TAX YEAR. PART I, LINE 32B: WHEN ON OCCASION CONTRIBUTED STOCK IS SOLD, IT IS BY A HIRED THIRD PARTY STOCK BROKER. FORM 990, PART VI, SECTION A, LINE 2 MR. OTTO A. KALETSCH AND MRS. NINA KALETSCH ARE BOTH TRUSTEES AND ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11 THE TAX RETURN IS MAILED TO THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION FOR REVIEW. UPON APPROVAL BY THE VP, IT IS MAILED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES FOR FOR HIS REVIEW AND ULTIMATE APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES ARE REQURIED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST POSSIBLE TIME, WHILE EMPLOYEES MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTERST TO HIS/HER IMMEDIATE SUPERVISOR, WHO IN TURN MUST INFORM THE VP OF FINANCE AND ADMINISTRATION. ADDITIONALLY, ALL CONFLICTS ON THE BOARD ARE DISCLOSED IN WRITING TO THE TRUSTEES COMMITTEE WHICH IS RESPONSIBLE FOR ISSUES OF GOVERNANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES OF THE COLLEGE HAS A STANDING COMMITTEE FOR PRESIDENTIAL COMPENSATION COMPOSED OF THE CHAIR, VICE CHAIR AND, TWO TRUSTEES WITH SUBSTANTIAL EXPERIENCE IN MATTERS OF LEADERSHIP AND EXECUTIVE COMPENSATION MATTERS. IN DETERMINING COMPENSATION, THE COMMITTEE CONSIDERS COMPARATIVE DATA FROM OTHER INSTITUTIONS, INFORMATION DISSEMINATED AT THE ANNUAL CIC CONFERENCE AND THE CHRONICLE OF HIGHER EDUCATION, SPECIAL ISSUES RELATED TO FRANKLIN'S UNIQUE LOCATION AND CORPORATE STRUCTURE, AND AN ANNUAL EVALUATION OF PRESIDENTIAL PERFORMANCE. THIS PROCESS AND ALL ITS ELEMENTS HAVE BEEN REVIEWED AND APPROVED BY THE AUDIT PARTNER OF THE FIRM AUDITING THE COLLEGE'S FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST. FORM 990, PART IX, LINE 24E MISCELLANEOUS EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 768,014. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 768,014. OPERATION AND MAINTENANCE OF PLANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 227,447. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 227,447.