2016-05-11T16:09:36-05:00 2015-06-30 GRANT THORNTON LLP 757 THIRD AVE 2TH FLOOR NEW YORK NY 100172013 990 2014-07-01 141442493 Marist College % JOHN PECCHIA CFO VP OF BA MARI 8455753000 3399 North Road Poughkeepsie NY 12601 JOHN PECCHIA Chief Financial Officer 8455753000 2016-05-11 true Daniel Romano P00504182 2125990100 2014 2016-08-17 19:52:53Z Dennis J Murray President 3399 North Road Poughkeepsie NY 12601 302633176 false X www.marist.edu X 1946 NY MARIST IS DEDICATED TO HELPING STUDENTS DEVELOP THE INTELLECT, CHARACTER AND SKILLS REQUIRED FOR ENGLIGHTENED, ETHICAL, AND PRODUCTIVE LIVES IN THE GLOBAL COMMUNITY. 30 29 3943 219 358933 -38806 12607735 9562509 210576116 218020003 48077724 7645685 4235132 4039421 275496707 239267618 48233645 49963211 0 0 92015408 96652073 0 0 1950105 67872764 71417825 208121817 218033109 67374890 21234509 567129243 677547395 142891721 241229722 424237522 436317673 X MARIST IS DEDICATED TO HELPING STUDENTS DEVELOP THE INTELLECT, CHARACTER AND SKILLS REQUIRED FOR ENGLIGHTENED, ETHICAL, AND PRODUCTIVE LIVES IN THE GLOBAL COMMUNITY. false false 611710 169994005 49963211 175254133 Marist College is a highly selective, complex, comprehensive institution noted for its leadership in the use of technology in and out of the classroom. Marist is chartered by the State of New York and its Poughkeepsie and Florence campuses are fully accredited by the Middle States Commission on Higher Education (MSCHE). Marist's student body is comprised of 5,576 undergraduate students and 898 graduate students with 46 bachelor's programs, 13 master's programs and 14 certificate programs. Over 50% of undergraduate students have studied a semester abroad. Founded in 1929, Marist's 228-acre campus overlooks the Hudson River in the heart of the historic Hudson Valley and is situated midway between New York City and Albany, the state capital. What started as a school for the training of future Marist Brothers has developed into one of the most selective colleges in the nation. Marist is ecumenical in character and reflects the ideals of the Marist Brothers' founder, St. Marcellin Champ gnat: commitment to excellence in education, the importance of community, and dedication to the principle of service. Marist is dedicated to the development of the whole person in a way that will prepare our graduates to lead enlightened, ethical, and productive lives in the global community of the 21st century. 721310 30173163 0 42765870 Marist College provides a variety of auxiliary services to both its students and employees in support of its educational mission. As part of the student experience, Marist offers a variety of college housing to over 3,200 students in corridor, suite, apartment, and townhouse-style residences. The residential life program at Marist is based upon the philosophy of providing students with a safe, healthy, and attractive living-learning environment that supports and supplements the educational mission of the College. Students are housed using a "rites of passage" philosophy, which recognizes that a student's development should be supported by his/her living environment. Another large auxiliary function includes food service through both a resident and retail dining program. The resident dining operation provides food on a daily basis to over 1,500 participants. The campus's six retail cafes, catering to an additional 1,800 participants, offer a wide selection of hot and cold drinks, soups, salads, sandwiches, and snacks. The campus dining experience is focused on culinary expertise, fresh local and regional ingredients, healthy options, and a shared sense of environmental and social responsibility. Other campus auxiliary services include a bookstore, computer store, and a campus/community debit card account known as Marist Money. Throughout all of the College's auxiliary services, an emphasis is placed on promoting sustainable practices where applicable and include, but are not limited to, educating faculty, staff, and students about the impact of their actions on the environment; identifying, establishing, and publicizing sustainability principles, goals, and best practices; providing a framework for guiding sustainable procedures, programs, and initiatives; and monitoring and reporting progress on campus sustainability initiatives. 200167168 true true false false false false false true false true true true false true true true false true true true true false false false true true false true true true true false false false false false false false false false false true true false false true true true true false false true 6806 1 true 3943 true true true true SP FR IT false false false true true false false false false X 30 29 false false false false false false false true true false true true true true true true true true true true false X X JOHN PECCHIA CFO VP OF BA 8455753000 3399 NORTH ROAD POUGHKEEPSIE NY 12601 Dr Dennis J Murray President 50.0 0.0 X X 787606 0 209314 Ellen M Hancock Chair 2.0 0.0 X X 0 0 0 Ross A Mauri Vice Chair 1.0 0.0 X X 0 0 0 Thomas J Ward Treasurer 1.0 0.0 X X 0 0 0 James R Barnes Secretary 1.0 0.0 X X 0 0 0 Elizabeth M Wolf Assistant Secretary 1.0 0.0 X X 0 0 0 Robert R Dyson Trustee 1.0 0.0 X 0 0 0 James M Barnes Trustee 1.0 0.0 X 0 0 0 Timothy G Brier Trustee 1.0 0.0 X 0 0 0 Steven Effron Trustee 1.0 0.0 X 0 0 0 Michael G Gartland Trustee 1.0 0.0 X 0 0 0 Dr Stanley E Harris Trustee 1.0 0.0 X 0 0 0 Daniel G Hickey Sr Trustee 1.0 0.0 X 0 0 0 James P Honan Trustee 1.0 0.0 X 0 0 0 Bro John Klein Trustee 1.0 0.0 X 0 0 0 Suresh Kothapalli Trustee 1.0 0.0 X 0 0 0 Patrick M Lavelle Trustee 1.0 0.0 X 0 0 0 Christopher G McCann Trustee 1.0 0.0 X 0 0 0 James A Cannavino Trustee 1.0 0.0 X 0 0 0 Lisa Cathie Trustee 1.0 0.0 X 0 0 0 Susan L Cohen Trustee 1.0 0.0 X 0 0 0 Gerard E Dahowski Trustee 1.0 0.0 X 0 0 0 Laurie DeJong Trustee 1.0 0.0 X 0 0 0 Mark V Dennis Trustee 1.0 0.0 X 0 0 0 Michael C Duffy Trustee 1.0 0.0 X 0 0 0 Genine McCormick Trustee 1.0 0.0 X 0 0 0 John P O'Shea Trustee 1.0 0.0 X 0 0 0 Patrice m Connolly Pantello Trustee 1.0 0.0 X 0 0 0 Bro Sean Sammon Trustee 1.0 0.0 X 0 0 0 Tim Tenney Trustee 1.0 0.0 X 0 0 0 BRENDAN T BURKE Thru 1114 TRUSTEE 1.0 0.0 X 0 0 0 Dr Geoffrey L Brackett Executive Vice President 50.0 1.0 X 356073 0 71951 Dr Thomas Wermuth VP of Academic Affairs 50.0 0.0 X 272538 0 40097 Sean P Kaylor VP of Admissions & Enrollment 50.0 0.0 X 252631 0 53419 John Pecchia VP of Business Affairs, CFO 50.0 1.0 X 275821 0 38349 Christopher DelGiorno VP of College Advancement 50.0 0.0 X 226123 0 41271 William T Thirsk VP of Information Tech, CIO 50.0 0.0 X 232852 0 42260 Deborah DiCaprio VP/Dean of Student Affairs 50.0 0.0 X 218830 0 49826 Dr John Ritschdorff Assoc. VP of Academic Affairs 50.0 0.0 X 198477 0 40741 Deborah Raikes-Colbert Assoc. VP of Human Resources 50.0 0.0 X 156104 0 14761 Brian Giorgis Head Coach, Women's Basketball 50.0 0.0 X 426637 0 52758 Dr Lee Miringoff Director of MIPO 50.0 0.0 X 297948 0 44380 Dr Barbara Carvalho Director of Marist Poll 50.0 0.0 X 242377 0 27614 Lawrence Singleton Dean, School of Management 50.0 0.0 X 236089 0 46482 Dr Roger Norton Dean, Computer Sciences & Math 50.0 0.0 X 233474 0 45577 Dr Roy H Merolli Former Executive VP 50.0 0.0 X 160215 0 20041 Jose Martin Head Coach, Men's Basketball 50.0 0.0 X 104241 0 17649 4678036 0 856490 105 true true false Sodexo Inc and Affiliates 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 Food Service 8402150 Daniel O'Connells Sons Incorporatio 480 HAMPDEN STREET HOLYOKE MA 01040 Construction 7830508 Kirchoff-Consigli Construction Mgmt 199 W Rd 100 PLEASANT VALLEY NY 12569 Construction 6044275 Robert A M Stern Architects 460 W 34th St 18 NEW YORK NY 10001 Architects 4045324 Champlain Stone LTD 27 Elm St WARRENSBURG NY 12885 Construction 1609268 63 25348 3283330 6253831 680409 9562509 TUITION & FEES 611710 175254133 175254133 ROOM & BOARD 721310 42765870 42765870 218020003 1646967 1646967 0 0 0 0 0 69252171 25918 62775115 504256 6477056 -478338 5998718 5998718 62473 25348 71029 -8556 -8556 80308 15158 65150 65150 0 ATHLETICS 711210 1098900 1098900 STUDENT CLUB ACTIVITIES 900099 693193 693193 SUMMER CAMP ACTIVITIES 611600 358933 358933 1831801 1831801 3982827 239267618 218020003 358933 11326173 400000 400000 49563211 49563211 0 0 4492187 2133250 1739381 619556 0 64386710 58760789 4940294 685627 7566469 7336102 165294 65073 14619407 12115683 2329194 174530 5587300 4920114 611415 55771 6379557 6379557 819940 50000 769940 317861 317861 0 0 1169308 1169308 1607065 1169352 309320 128393 2883651 2836244 47407 4650383 4459275 74503 116605 5453777 4650491 803286 778821 747339 31482 9986449 9972952 13353 144 3846854 3535699 277701 33454 0 716374 654105 55899 6370 3030853 2977509 46833 6511 0 13120717 12376747 743970 1563617 1342455 221162 INTERNATIONAL PROGRAM 7061104 7061104 HOSPITALITY 2384989 1699560 627358 58071 ATHLETICS 1622028 1574984 47044 STUDENT MAINTENANCE 1042587 1042587 2981890 2408059 573831 218033109 200167168 15915836 1950105 476822 542714 51709258 59808288 4005166 2685898 5638574 5729603 48748 0 0 0 6110266 6165965 340080 361786 1871888 3030846 460406253 170255089 272257784 290151164 207334172 92405852 13554916 134355435 0 0 0 0 3781569 82309844 567129243 677547395 17246529 19890359 0 0 9885983 11481707 96018589 183010335 0 0 0 0 0 0 0 0 19740620 26847321 142891721 241229722 X 354988851 365711991 41904909 42072294 27343762 28533388 424237522 436317673 567129243 677547395 X 21234509 -2364415 -175000 -6614943 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 199500 7757684 X X X false 55302924 1202226 1069336 614337 56960149 46702054 680865 8207375 547770 -260400 55302924 42888844 1626123 2606865 467278 -47500 46702054 44454456 572432 -1462091 395479 280474 42888844 39159130 777180 4921221 403075 44454456 0.16370 0.50090 0.33540 false false 7433461 7433461 211725601 82379004 129346597 146705596 34470623 112234973 62521104 50899066 11622038 32020491 2506396 29514095 290151164 DIRECT FOREIGN INVESTMENTS 64789372 C OTHER ALTERNATIVE INVESTMENTS 69566063 C 134355435 DEPOSITS WITH TRUSTEES 81507117 ASSETS HELD FOR CHARITABLE TR. 733976 MAAC RECEIVABLE 68751 82309844 0 ACCRUED POST RETIREMENT-BENEFITS 14151561 INTEREST RATE SWAP OBLIGATION 6691214 US G0V'T GRANTS REFUNDABLE 5531824 ANNUITIES PAYABLE 349227 CAPITAL LEASE OBLIGATIONS 123495 26847321 X 181018759 -2364415 -6321233 -8685648 189704407 49563211 49563211 239267618 168609442 139544 139544 168469898 49563211 49563211 218033109 Part III, Line 4 Collection of artworks The College holds a culturally and historically diverse collection. Various artworks and archives serve primarily as learning and research resources for faculty and students. PART V, LINE 4 Endownment Funds Endowment funds are intended to be used for scholarships and to support Academic programs of the college. Part X, Line 2 FIN 48 Disclosure Tax effects from an uncertain tax position are recognized in the consolidated 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 position might 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 June 30, 2012, 2013, 2014 and 2015 are still open to audit for both Federal and State purposes. Part XI, Line 2d CHANGE IN VALUE INTEREST RATE SWAP $ (90,131) PENSION & POST RETIREMENT CHANGES $ (6,231,102) ___________________ $ (6,321,233) Part XI, Line 4b SCHOLARSHIPS 49,563,211 Part XII, Line 2d MRPS DEPRECIATION 139,544 PART XII, LINE 4B SCHOLARSHIPS $49,563,211 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 The college publicizes its racially nondiscriminatory policy on its website (marist.edu) to make the policy known to all parts of the general community it serves. SCHEDULE E, LINE 6A The college receives financial aid and other grants from federal and state agencies. Europe (Including Iceland and Greenland) 2 5 Program Services Admin & Education 8729095 Central America and the Caribbean Program Services Educational 147812 East Asia and the Pacific Program Services Educational 636782 Middle East and North Africa Program Services Educational 41395 Sub-Saharan Africa Program Services Educational 50630 Central America and the Caribbean Investments 66741514 South Asia 10 Program Services Admin & Education 372000 North America Program Services Educational 18525 2 15 2 15 76737753 76737753 true false true false true false Schedule F, Part IV MARIST 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 college's form 990-T. Red Fox Golf 30375 8143 22232 1000 1939 4995 4289 884 Alumni Golf 24565 8630 15935 12998 10582 955 4 32881 8575 24306 9361 12935 8904 2187 87821 25348 62473 1000 24298 28512 13193 4026 71029 -8556 80308 1000 10690 3468 true 1.00000 80308 1000 10690 3468 15158 65150 NY true false false false 1.00000 Travis Tellitocci 3399 North Rd Poughkeepsie NY 12601 false Tim Murray Oversees all aspects of gaming activities X false SCHEDULE G, PART III LINE 16 THE INDIVIDUAL IN CHARGE OF OVERSEEING THE FOUNDATION'S GAMING Activities is NOT COMPENSATED FOR THAT JOB RESPONSIBILITY; HE UNDERTAKES THIS ROLE AS PART OF HIS ORDINARY BUSINESS ENDEAVORS. true Fairview Fire District 258 Violet Avenue Poughkeepsie NY 12601 146000328 501 (a) 400000 COMMUNITY ASSISTANCE 1 INSTITUTIONAL SCHOLARSHIP 7302 49563211 ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS PART 1, LINE 2 The College provides scholarships and financial aids to students based on need and academic performance. The funds are credited directly to the student's account. Records are maintained in accordance with College's policies. The College's financial aid office adheres strictly to all federal and state regulations and is subject to the compliance and internal controls of OMB A-133. Part II, Line 1D Marist College voluntarily contributes to the Fairview Fire District's annual fundraising campaign and has chosen to make an additional capital improvement contribution during fiscal year end June 30, 2015. X X X X true true X X X X X false true false false false false false true false Dr Dennis J Murray President 487775 0 275000 0 24831 0 162525 0 46789 0 996920 0 0 0 Dr Geoffrey L Brackett Executive Vice President 331643 0 15000 0 9430 0 44500 0 27451 0 428024 0 0 0 Dr Thomas Wermuth VP of Academic Affairs 257459 0 15000 0 79 0 30451 0 9646 0 312635 0 0 0 Sean P Kaylor VP of Admissions & Enrollment 235932 0 15000 0 1699 0 28467 0 24952 0 306050 0 0 0 John Pecchia VP of Business Affairs, CFO 260622 0 15000 0 199 0 19003 0 19346 0 314170 0 0 0 Christopher DelGiorno VP of College Advancement 213796 0 10000 0 2327 0 16319 0 24952 0 267394 0 0 0 William T Thirsk VP of Information Tech, CIO 215273 0 17500 0 79 0 22914 0 19346 0 275112 0 0 0 Deborah DiCaprio VP/Dean of Student Affairs 203493 0 15000 0 337 0 24874 0 24952 0 268656 0 0 0 Dr John Ritschdorff Assoc. VP of Academic Affairs 192774 0 5000 0 703 0 20675 0 20066 0 239218 0 0 0 Deborah Raikes-Colbert Assoc. VP of Human Resources 145767 0 10000 0 337 0 11107 0 3654 0 170865 0 0 0 Brian Giorgis Head Coach, Women's Basketball 412840 0 12500 0 1297 0 43112 0 9646 0 479395 0 0 0 Dr Lee Miringoff Director of MIPO 275705 0 17500 0 4743 0 23150 0 21230 0 342328 0 0 0 Dr Barbara Carvalho Director of Marist Poll 224678 0 17500 0 199 0 16768 0 10846 0 269991 0 0 0 Lawrence Singleton Dean, School of Management 230890 0 5000 0 199 0 24816 0 21666 0 282571 0 0 0 Dr Roger Norton Dean, Computer Sciences & Math 215637 0 17500 0 337 0 26231 0 19346 0 279051 0 0 0 Dr Roy H Merolli Former Executive VP 160215 0 0 0 0 0 18529 0 1512 0 180256 0 0 0 Jose Martin Head Coach, Men's Basketball 104241 0 0 0 0 0 7524 0 10125 0 121890 0 0 0 SCHEDULE J, PART I, Line 1a SCHEDULE J, PART I, QUESTION 1A Travel for Companion is very limited and always includes a clear business purpose for the companion and must be pre-approved by the President. President's companion travel is approved by the Chair of Board of Trustees. SCHEDULE J, PART I, QUESTION 1A Housing allowance or residence for personal use - the President of the college is provided with housing in close proximity to the campus in order for him to attend to emergent situations on a 24/7 basis. The housing is provided as a condition of his employment, is used for college business and entertainment purposes and as a convenience to the college to enable him to perform his duties. The fair market value of the president's residence is shown in column D, it is based on the value of property, property taxes, and maintenance expenses and is reported in column d on schedule J. SCHEDULE J, PART I, QUESTION 1A Health or social club dues or initiation fees - the college pays club membership fees for four executives, which are intended to be used exclusively for the college's business entertainment or college sponsored events. to the extent there is any personal use of these privileges, the individual executives are taxed on the value of the use. Only one of the four executives is taxed on personal use of the membership. The other three executives use the membership exclusively for business purposes. SCHEDULE J, PART I, QUESTION 1A Tax indemnification and gross-up payments - the college provided $21,700 additional gross-up payment to fund the president's pension plan, this amount is included in box B(iii) on Schedule J. Schedule J, Part I, LINE 3 Compensation committee and independent compensation consultant, no new executives were hired in fy15 requiring the committee or consultant to perform any services. Schedule J, Part I, Question 4b Effective July 1, 2011, the college put in place a non-qualified supplemental executive retirement plan ("SERP") for the president of the college. The annual accruals for these benefits have been reported despite being subject to a substantial risk of forfeiture and contingent upon the president's continued employment at the college. The value of the accrual for calendar year 2014 is included in the deferred compensation column (column c) of schedule J. The college has in place a non-qualified deferred compensation plan for the executive vice president , a head coach and 2 directors of MIPO. The annual accruals for these benefits have been reported despite being subject to a substantial risk of forfeiture and contingent upon the executive's continued employment at the college. The value of the accrual for calendar year 2014 is included in the deferred compensation column (column c) of schedule J. In calendar year 2014, the women's head coach received a payout of his deferred compensation as required by employment contract. The amount is included in base compensation, Part II (B)(i). Schedule J, Part I, Question 7 Non-fixed payments: Annually, pay awards were given in recognition of employees contributions to the overall success of the college. Any variable pay awards in future years will be contingent on individual performance and the continued success of the college. A Dutchess County IDA 141613685 267041GN5 2008-01-25 20000000 Student housing, parking lot, rdw. false false false B Dutchess County LDC 273106797 267045BL5 2012-05-17 15415962 Refund bonds issued on 3/7/03 false false false C Dutchess County LDC 273106797 267045CV2 2013-03-28 15262546 ADDITION AND RENOV. OF STUDENT CTR false false false D Dutchess County LDC 273106797 267045EL2 2015-06-25 90557609 ALLIED SC BLDG N CAMPUS HOUSING false false false A 2970000 0 20167954 0 0 0 301631 81184 0 19785139 0 0 2008 false false true true B 2410000 0 15415962 0 0 0 116944 0 0 0 15299018 0 2012 true false true true C 565000 0 15262546 0 0 0 222464 0 0 15040082 0 0 2014 false false true true D 0 0 90557609 0 0 0 630571 0 0 89927037 0 0 2016 false false false true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A false false true true true false 0 false false false 0 false true B false true false false false false 0 false false false 0 false true C false true false false false false 0 false false false 0 false true D false true false false false false 0 false false false 0 false true A true B true C true D true part II, line 7, Student Center Addition/renovation The college financed a portion of the costs of issuance with a post-issue date equity contribution and applied the additional proceeds to finance project costs. The post-issuance equity contribution caused the actual amount of bond-financed issuance costs to be less than the amount reported on the form 8038. part II, line 10, columns A & B Amounts listed include capitalized delivery date expenses not subject to the 2 percent limitation in section 147(g) of the code. scheudle K An Asset Management firm performed an Arbitrage Rebate & Yield Restriction Liability Calculation for Marist College. It was completed on 11/12/15. Based on their findings, The College was found to be compliant. A DUTCHESS COUNTY LDC 273106797 2013-07-01 33045000 2013B 1-3REF 1998,1999&2005 BONDS false false false A 1274390 0 33045000 0 0 0 189836 0 0 32855164 0 0 2013 true false true true A false false false false 0 false false false true A false true false false false false 0 false false false 0 false true A true X 1 199500 APPRAISAL VALUE X 4329 EST MARKET VALUE X 20 340305 AVG PRICE DOT X EQUIPMENT 4 118775 EST MARKET VALUE X MEMBERSHIPS 2 12000 EST APPRAISAL VALUE X FIXTURES-ECLIPSE AWNING 1 3500 EST MARKET VALUE X FIXTURES-THEATR. BACKDROP 1 2000 EST MARKET VALUE false true false EXPLANATION OF NONCASH CONTRIBUTIONS MARIST COLLEGE REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN B, NOT THE NUMBER OF ITEMS. ORGANIZATION'S REVIEW PROCESS OF FORM 990 FORM 990, PART VI, LINE 11B The organization's Form 990 is presented to the audit committee by the independent accounting firm and reviewed by the Board of Trustees prior to filing. ENFORCEMENT AND COMPLIANCE OF CONFLICTS OF INTEREST POLICY FORM 990, PART VI, LINE 12C As an on-going practice and as required by our Code of Ethics, all trustees are required to complete Conflict of Interest Statements on an annual basis in which they are asked to discuss any business relationships they or a member of their families have with the College. Our Code of Ethics requires that all cabinet members and staff who engage in significant business dealings for the College (e.g., Director of Physical Plant) complete a Conflict of Interest Statement annually. Completed statements that indicate a potential conflict of interest are reviewed by the Chief Financial Officer, Associate Vice President for Human Resources, and the Executive Vice President. If a conflict exists, appropriate action is taken to ensure full disclosure or termination of the arrangement. COMPENSATION PROCESS FOR TOP MANAGEMENT OFFICIAL FORM 990, PART VI, LINE 15A The compensation and retirement program for the president was based on a comprehensive analysis conducted by an independent executive compensation consulting firm. The president's contract was recommended by the board committee on presidential review and compensation (responsible for presidential evaluation and compensation), and approved by the full board of trustees. The president's performance is reviewed on an annual basis by the committee on presidential review and compensation and changes in compensation are recommended to the full board for approval. The committee on presidential review and compensation bases its recommendations for adjustments on performance and a review of appropriate college and university personnel association (cupa) data on presidential compensation and the process and decision is contemporaneously documented in the minutes. COMPENSATION PROCESS FOR OFFICERS AND KEY EMPLOYEES FORM 990, PART VI, LINE 15B Senior officer compensation is established after a review of compensation data from cupa at private institutions of higher education based on annual budget size and enrollment. In addition to salary comparability at other institutions, performance and years of service in the position are also factors considered by the president in determining a senior officer's annual salary. Once the president has completed his review of senior officer compensation, the president's recommendations are brought to the board of trustees for review and approval. GOVERNING DOCUMENTS DISCLOSURE FORM 990, PART VI, LINE 19 The college's governing documents are available upon request from the office of the Chief Financial Officer. The financial statements and conflict of interest policy are available on the college's website at marist.edu. Other Changes in Net Assets Form 990, Part XI, Line 9 Mrps net change in fixed assets 154,165 Change in interest rate swap obligation, other 90,131 Pension & post retirement changes 6,231,102 MRPS Depreciation 139,545 VAYU LLC 3399 NORTH ROAD POUGHKEEPSIE NY 12601 EDUCATIONAL NY 14528855 MARIST COL Marist Real Property Services Inc 3399 North Road Poughkeepsie NY 12601 141785087 Real Prop NY 501 (C) (3) 11A Marist Coll true MARIST REAL PROPERTY SERVICES TWO INC 3399 NORTH ROAD POUGHKEEPSIE NY 12601 141825215 REAL PROP NY MARIST COL C Corp 175000 1.00000 true false false false false false false false false false false false false false true true false false false false