2016-05-11T15:56:33-05:00 2015-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-07-01 131628206 MARYMOUNT MANHATTAN COLLEGE % Wayne Santucci MARY 2125170400 221 EAST 71ST STREET NEW YORK NY 100214597 PAUL CIRAULO CHIEF FINANCIAL OFFICER 2125170400 2016-05-06 true PAUL CIRAULO P00431862 2127589700 2016-05-06 2014 2016-08-17 19:52:53Z Dr Kerry Walk 221 EAST 71ST STREET NEW YORK NY 100214597 76704267 false X http://www.mmm.edu X 1961 NY MARYMOUNT MANHATTAN COLLEGE'S MISSION IS TO EDUCATE SOCIALLY AND ECONOMICALLY DIVERSE students by FOSTERING INTELLECTUAL ACHIEVEMENT,PERSONAL GROWTH AND CAREER DEVELOPMENT. 18 17 1064 18 0 0 2239985 3034251 55281614 59516762 1519604 1480374 1944501 2448981 60985704 66480368 11043555 13674766 0 0 28002525 28238982 0 0 1566397 21839367 22552525 60885447 64466273 100257 2014095 110726715 110544682 50328826 49404278 60397889 61140404 X Marymount Manhattan College is an urban, independent, liberal arts college. The mission of the college is to educate a socially and economically diverse student body by fostering intellectual achievement and personal growth and by providing opportunities for career development. Inherent in this mission is the intent to develop an awareness of social, political, cultural and ethical issues, in the belief that this awareness will lead to concern for, participation in, and improvement of society. To accomplish this mission, the College offers a strong program in the arts and sciences for students of all ages, as well as substantial pre-professional preparation. Central to these efforts is the particular attention given to the individual student. Marymount Manhattan College seeks to be a resource and learning center for the metropolitan community. false false 47951723 13674766 50026171 INSTITUTIONAL PROGRAM ACTIVITIES. OFFERING ASSISTANCE TO STUDENTS IN NEED IS ESSENTIAL TO ACHIEVE THE COLLEGE'S GOAL TO SERVE A SOCIALLY AND ECONOMICALLY DIVERSE STUDENT BODY. MMC CURRENTLY EDUCATES 1,858 FULL- AND PART-TIME STUDENTS REPRESENTING 47 STATES AND 66 COUNTRIES. APPROXIMATELY 32% OF OUR STUDENTS ARE MINORITIES, AND 9.3% ARE DEGREE-SEEKING RETURNING ADULTS. MMC STUDENTS CAN PURSUE DEGREES IN 23 MAJOR PROGRAMS OF STUDY, CHOOSE FROM AMONG 36 MINORS AND PRE-PROFESSIONAL PROGRAMS, HOLD INTERNSHIPS AT RENOWNED NEW YORK CITY COMPANIES, ENGAGE IN SOPHISTICATED RESEARCH PROJECTS, STUDY ABROAD, AND PARTICIPATE IN SERVICE-LEARNING OPPORTUNITIES. SEE SCHEDULE O. 7650997 9278535 RESIDENCE HALLS. APPROXIMATELY 654 STUDENTS MAKE THEIR HOME AT MMC. THE 55TH STREET RESIDENCE IS OWNED BY THE COLLEGE AND IS THE FIRST-YEAR RESIDENCE HALL. CONTINUING STUDENTS CAN OPT TO LIVE AT THE 1760 THIRD AVENUE RESIDENCE HALL. EACH HALL IS LOCATED CLOSE TO CAMPUS AND STAFFED WITH 24-HOUR SECURITY. RESIDENCE DIRECTORS AND RESIDENT ADVISORS STRIVE TO CREATE A SENSE OF COMMUNITY BY PROVIDING EDUCATIONAL AND SOCIAL PROGRAMS. ALL BEDS WERE FILLED AT 55TH STREET AND 1760 THIRD AVENUE, SO AN ADDITIONAL 26 BEDS WERE SUB-LICENSED FROM THE SCHOOL OF VISUAL ARTS. SEE SCHEDULE O. 300047 212056 ACADEMIC ACCESS. THE PROGRAM FOR ACADEMIC ACCESS ADDRESSES MANY FUNDAMENTAL PRINCIPLES OF MARYMOUNT MANHATTAN'S MISSION. THROUGH THE PROGRAM FOR ACADEMIC ACCESS, WE STRIVE TO ENSURE ACADEMIC SUCCESS OF EVERY STUDENT. ONE-ON-ONE STUDY SESSIONS PERMIT INDIVIDUALIZED ASSISTANCE, BUILDING ON STRENGTHS AND OVERCOMING WEAKNESSES. THE PROGRAM FOR ACADEMIC ACCESS FOSTERS OPPORTUNITIES FOR INTELLECTUAL ACHIEVEMENT AND PERSONAL GROWTH. SEE SCHEDULE O. 55902767 true true false true false false false false false true true false false false true true true false true false true false true false true false false false true true true false false false false false true true false false true true false false false false true true true false false true 63 0 true 1064 true false false false false false true true false false false false X 18 17 false false false false false false false true true false false false true true true true true true true false NJ X X Wayne Santucci 2125170544 221 East 71st Street New York NY 100214597 X Linda Basilice-Hoerrner Trustee 1.0 0.0 X 0 0 0 Carol Berman Trustee 1.0 0.0 X 0 0 0 Thomas C Clark Trustee 1.0 0.0 X 0 0 0 Teresita Fay Trustee 1.0 0.0 X 0 0 0 Anne C Flannery Trustee (through 06/2015) 1.0 0.0 X 0 0 0 Paul A Galiano Trustee 1.0 0.0 X 0 0 0 Susan Gardella Trustee 1.0 0.0 X 0 0 0 John H Hunt Trustee 1.0 0.0 X 0 0 0 Hope D Knight Trustee 1.0 0.0 X 0 0 0 Barbara A Loughlin Trustee 1.0 0.0 X 0 0 0 Paul C Lowerre Trustee 1.0 0.0 X 0 0 0 Michael J Materasso Trustee 1.0 0.0 X 0 0 0 Natasha Pearl Trustee 1.0 0.0 X 0 0 0 Judith L Robinson Trustee 1.0 0.0 X 0 0 0 Cecilia Tudela-Montero Trustee 1.0 0.0 X 0 0 0 Ronald J Yoo Trustee 1.0 0.0 X 0 0 0 Lucille Zanghi Trustee 1.0 0.0 X 0 0 0 Dr Judson Shaver President (through 06/2015) 35.0 0.0 X X 589625 0 95101 Catherine M Patten Trustee (effective 10/2014) 1.0 0.0 X 0 0 0 Paul Ciraulo Executive VP Admin & Fin, CEO 35.0 0.0 X 227869 0 33404 David Podell Vice President Academic Affair 35.0 0.0 X 214566 0 32567 Marilyn Wilkie VP Institutional Advancement 35.0 0.0 X 193311 0 41628 Carol Jackson Vice President Student Affairs 35.0 0.0 X 171794 0 19631 Wayne Santucci Controller, Associate VP 35.0 0.0 X 159152 0 88289 Kathleen Lebesco Associate Dean Academic Affair 35.0 0.0 X 127340 0 25582 Patricia Hansen Director of IT 35.0 0.0 X 140423 0 26385 Linda Solomon Professor 35.0 0.0 X 132800 0 26012 Bree Bullingham Director of Human Resources 35.0 0.0 X 120305 0 48174 James Rogers Dean of Admission 35.0 0.0 X 134838 0 24591 2212023 0 461364 31 false true false compass group north america 2400 yorkmont road CHARLOTTE NC 28217 food service 855584 us security associates 200 mansell court fifth floor ROSWELL GA 30076 security services 695006 kencal maintenance corpo 399 knollwood road WHITE PLAINS NY 10603 cleaning services 388772 bw mechanical inc 2109 Emmorton Park Road Suite 118 EDGEWOOD MD 21040 hvac services 385203 b b contracting group llc 2502 tigani drive WILINGTON DE 19808 general contractor 311534 15 423597 481199 2129455 128761 3034251 Tuition and Fees 900099 50026171 50026171 Residence Fees 900099 9278535 9278535 Academic Programs 900099 212056 212056 59516762 512221 512221 0 0 223927 19696 204231 0 204231 204231 11024811 10056658 968153 968153 968153 70920 423597 147545 -76625 -76625 0 0 Food Service Revenue 110000 2212179 2212179 OTHER 900099 109196 109196 2321375 66480368 59516762 3929355 0 13529274 13529274 145492 145492 0 1907790 1814456 79523 13811 0 19864179 15451534 3687495 725150 1637342 1298474 283295 55573 3228276 2560144 558561 109571 1601395 1269966 277076 54353 0 249845 249845 223475 223475 3000 3000 0 112542 107036 4691 815 3563162 3377415 39288 146459 314625 166549 148076 1795163 1608952 66551 119660 1066414 1066414 0 1641166 1591684 42160 7322 247191 200865 29561 16765 0 555325 393661 69445 92219 2156216 2156216 0 3902677 3761612 120191 20874 319552 303919 13320 2313 HOUSING RENTAL 2561189 2561189 FOOD SERVICE OPERATIONS 1920591 1920591 Bad Debt Reserve 355158 302154 53004 Dues & Membership 251674 244945 6303 426 1313560 1136638 176916 6 64466273 55902766 6997110 1566397 X 5463124 6418756 1034885 1034903 1568361 1634847 603030 583067 325000 325000 0 0 0 0 0 0 629772 304434 120120501 50635277 70805414 69485224 29126499 29803614 0 0 0 0 0 0 1170630 954837 110726715 110544682 4052205 4512182 0 0 1643999 2291043 42943462 40989989 0 0 0 0 0 0 0 0 1689160 1611064 50328826 49404278 X 37435357 38061541 11053632 9724435 11908900 13354428 60397889 61140404 110726715 110544682 2014095 -1271580 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 3111 false false 3111 false false FORM 990, SCHEDULE C, PART IV LOBBYING EXPENSES MARYMOUNT MANHATTAN COLLEGE RETAINED THE FIRM OF WINNING STRATEGIES WASHINGTON, LLC. AND PAID $3,000 IN CONSIDERATION FOR LOBBYING SERVICES AND ADVICE REGARDING MATTERS IN FURTHERANCE OF THE COLLEGE'S EDUCATIONAL MISSION. AN ADDITIONAL $111 OF EMPLOYEE COMPENSATION IS INCLUDED IN THE LOBBYING TOTAL TO REFLECT EMPLOYEE TIME SPENT WORKING WITH THE EXTERNAL FIRM IN FURTHERANCE OF THE COLLEGE'S EDUCATIONAL MISSION. false 17863772 1445528 79247 664637 18723910 15857198 200093 2462666 656185 17863772 14801211 117903 1509700 571616 15857198 15631813 118664 -342041 607225 14801211 13521980 359626 2123334 373127 15631813 0.71320 0.28680 false false 18094588 18094588 85869418 37999211 47870207 12672719 10953346 1719373 3483776 1682720 1801056 69485224 0 INTEREST PAYABLE 1064505 ASSET RETIREMENT OBLIGATION 546559 1611064 X 51589097 -1271580 -13674766 -14946346 66535443 112166 -167241 -55075 66480368 50846582 167241 167241 50679341 112166 13674766 13786932 64466273 FORM 990, SCHEDULE D, PART V, LINE 4 INTENDED USES OF ENDOWMENT FUNDS MOST ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS. SOME FUNDS ARE USED TO FUND SCIENCE AND LIBRARY DEPARTMENTS. form 990, schedule d, part x, line 2 THE COLLEGE ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN ITS FINANCIAL STATEMENTS USING A THRESHOLD OF MORE LIKELY THAN NOT OF BEING SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE COLLEGE'S EXEMPT PURPOSE IS SUBJECT TO TAX. THE COLLEGE DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY AT JUNE 30, 2015 AND 2014. Reconciliation to audited financial statements FORM 990, SChEDULE D, PART XI, LINE 2D RECLASS OF STUDENT AID $(13,674,766) form 990, schedule d, part xi, line 4b SPECIAL EVENT EXPENSES $(147,545) SPACE RENTAL EXPENSES $(19,696) ------------- $(167,241) form 990, part xii, line 2d Special Events Direct Expenses $147,545 Space Rental Expenses $19,696 --------- $167,241 Form 990, Schedule D, Part XII, Line 4b reclass of student aid $13,674,766 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 MARYMOUNT MANHATTAN COLLEGE HAS PUBLICIZED ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH NEWSPAPER AND/OR BROADCAST MEDIA IN A WAY THAT MADE THE POLICY KNOWN TO ALL PARTS OF THE GENERAL COMMUNITY IT SERVES. SCHEDULE E, Line 6(A) FEDERAL WORK-STUDY PROGRAM $126,719 ----------- TOTAL FEDERAL GRANTS $126,719 NEW YORK STATE LIBRARY GRANT $5,351 NEW YORK STATE HEOP (HIGHER EDUCATION OPPORTUNITY PROGRAM) GRANT $239,294 NEW YORK STATE BUNDY GRANT $109,835 ----------- TOTAL NEW YORK STATE GRANTS $354,480 true Central America and the Caribbean Grantmaking 24000 North America Grantmaking 68403 East Asia and the Pacific Grantmaking 11989 Europe (Including Iceland and Greenland) Grantmaking 32500 Middle East and North Africa Grantmaking 5000 South Asia Grantmaking 3600 145492 145492 SCHOLARSHIP Central America and the Caribbean 4 24000 credited SCHOLARSHIP East Asia and the Pacific 3 11989 credited SCHOLARSHIP Europe (Including Iceland and Greenland) 6 32500 credited SCHOLARSHIP Middle East and North Africa 1 5000 credited SCHOLARSHIP North America 7 68403 credited SCHOLARSHIP South Asia 1 3600 credited false false false false false true FORM 990, SCHEDULE F, PART I, LINE 2 MONITORING THE USE OF GRANT FUNDS THE COLLEGE HAS DEVELOPED AN INSTITUTIONAL PACKAGING PHILOSOPHY TO ENSURE CONSISTENT, EQUITABLE, AND FAIR DISTRIBUTION OF FINANCIAL AID FUNDS. PACKAGING PARAMETERS ARE PERIODICALLY REVIEWED WITH THE HELP OF AN OUTSIDE CONSULTANT, TO EVALUATE THE MMC GRANTS AND SCHOLARSHIP PROGRAMS OFFERED TO ALL STUDENT POPULATIONS AT MMC. THE COLLEGE OFFERS FOREIGN STUDENTS LIMITED FUNDS. THEY ARE MONITORED BY A REVIEW OF THEIR ACADEMIC PROGRESS EACH SEMESTER. THIS REVIEW INCLUDES AN EXAMINATION OF EACH STUDENT'S QUALITATIVE (GPA) AND QUANTITATIVE (CREDITS COMLPETED) STANDARDS. FAILURE TO MEET ONE OR BOTH STANDARDS WILL RESULT IN THE STUDENT'S INSTITUTIONAL AID BEING PLACED IN A WARNING STATUS. CONTINUED FAILURE TO MEET STANDARDS WILL RESULT IN A LOSS OF ELIGIBILITY AND A SUSPENSION OF AID. Part I, Line 3, Column (F) THE COLLEGE USES THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. medal dinner 466372 401172 65200 98692 35587 dance gala 28145 22425 5720 10975 2291 0 494517 423597 70920 98692 10975 37878 147545 -76625 true Scholarships 1506 13529274 Form 990, schedule i, part 1, line 2 MONITORING THE USE OF GRANT FUNDS The College has a fair, equitable and consistent awarding policy that meets federal, state and institutional requirements. Students are offered a combination of federal, state and institutional aid. Packaging parameters are periodically reviewed with the help of an outside consultant to evaluate the MMC grants and scholarship programs offered to all student populations at MMC. MMC's awarding policy is reviewed by an independent auditor each year to ensure our compliance with regulatory requirements at MMC. Students are monitored each semester to ensure they meet the requirements attached to the aid they are receiving. The review includes both enrollment and academic progress components. MMC students must maintain their gpa and complete their credits as described in the College Catalogue under academic satisfactory academic progress standards. Additionally each grant received has unique standards (see college catalogue) which must be maintained for continued awarding. A review is conducted each semester by the financial aid staff under the direct supervision of the Director of Financial Aid. X X X true true X X X false true false false false false false false false Dr Judson Shaver President (through 06/2015) 344142 0 0 0 245483 0 67203 0 32107 0 688935 0 0 0 Paul Ciraulo Executive VP Admin & Fin, CEO 224632 0 0 0 3237 0 22935 0 15183 0 265987 0 0 0 David Podell Vice President Academic Affair 212583 0 0 0 1983 0 21709 0 14889 0 251164 0 0 0 Marilyn Wilkie VP Institutional Advancement 190508 0 0 0 2803 0 20196 0 25960 0 239467 0 0 0 Carol Jackson Vice President Student Affairs 167373 0 0 0 4421 0 17005 0 5192 0 193991 0 0 0 Wayne Santucci Controller, Associate VP 156832 0 0 0 2320 0 17146 0 72942 0 249240 0 0 0 Kathleen Lebesco Associate Dean Academic Affair 127080 0 0 0 260 0 13350 0 16290 0 156980 0 0 0 Patricia Hansen Director of IT 138528 0 0 0 1895 0 14464 0 16056 0 170943 0 0 0 Linda Solomon Professor 129079 0 0 0 3721 0 13310 0 13758 0 159868 0 0 0 Bree Bullingham Director of Human Resources 120038 0 0 0 267 0 13641 0 36955 0 170901 0 0 0 James Rogers Dean of Admission 134568 0 0 0 270 0 13760 0 12857 0 161455 0 0 0 form 990, schedule J, Part I, Line 1a HOUSING ALLOWANCE, DISCRETIONARY SPENDING ACCOUNT AND CLUB DUES A HOUSING ALLOWANCE IN THE AMOUNT OF $210,982 WAS PROVIDED TO THE PRESIDENT, DR. SHAVER, AND IS TREATED AS TAXABLE COMPENSATION TO HIM AND INCLUDED IN COLUMN B(III) OF PART II. THE HOUSING ALLOWANCE WAS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES AFTER REVIEW AND APPROVAL BY THE BOARD'S COMPENSATION COMMITTEE. THE COLLEGE ALSO PROVIDES A DISCRETIONARY SPENDING ACCOUNT FOR DR. SHAVER IN THE AMOUNT OF $29,000 PER FISCAL YEAR, WHICH REPRESENTS REIMBURSEMENT FOR EXPENSES, AND IS TREATED AS TAXABLE COMPENSATION TO HIM and included in column B(III) of part II. THIS BENEFIT WAS APPROVED BY THE BOARD OF TRUSTEES AFTER REVIEW AND APPROVAL BY THE BOARD'S COMPENSATION COMMITTEE. THE COLLEGE PAID CLUB DUES IN THE AMOUNT OF $4,273 ON BEHALF OF DR. SHAVER. THIS AMOUNT IS TREATED AS A NONTAXABLE BENEFIT TO HIM AND IS INCLUDED IN COLUMN D OF PART II, BECAUSE DR. SHAVER USES THE CLUB SOLELY FOR COLLEGE BUSINESS. form 990, SCHedule J, Part 1, Line 4b NONQUALIFIED RETIREMENT PLAN DR. SHAVER'S COMPENSATION REPORTED IN PART II, COLUMN (C) INCLUDES A NON-VESTED $34,260 CONTRIBUTION TO A SECTION 457(F) NONQUALIFIED PLAN. THE MARYMOUNT MANHATTAN COLLEGE SECTION 457(F) DEFERRED COMPENSATION PLAN IS A BENEFIT PLAN APPLICABLE TO CERTAIN HIGHLY COMPENSATED EMPLOYEES AND/OR SENIOR MANAGEMENT OF MARYMOUNT MANHATTAN COLLEGE. IT PROVIDES FOR FUTURE PAYMENT OF COMPENSATION TO THE EMPLOYEE FOR SERVICES CURRENTLY RENDERED. AN ELIGIBLE EMPLOYEE CAN ELECT TO DEFER ANY AMOUNT OF COMPENSATION TO THE PLAN. THE EMPLOYEE HAS NO ACCESS TO OR CONTROL OVER THE ASSETS HELD BY THE PLAN UNTIL THE DATE ELECTED FOR DISTRIBUTION OR THE OCCURRENCE OF A DISTRIBUTION EVENT UNDER THE PLAN. IF THE EMPLOYEE FAILS TO SATISFY THE SERVICE REQUIREMENTS PRIOR TO THE EARLIER OF SUCH DATES, THE BENEFITS WILL BE FORFEITED. THE 457(F) DEFERRED COMPENSATION PLAN WAS IMPLEMENTED ON JANUARY 1, 2010. A Dormitory Authority of the State of New York 146000293 649905WR3 2009-12-22 49013498 Refunding DASNY Series 1999 Bonds false false false A 6603498 0 49013498 4360562 0 0 831194 0 0 0 43821741 0 2001 true false true true A 0 A false false true false false false 0 false false false 0 false false A false SCHEDULE K, PART II, line 11 $495,462 WAS SPENT ON ISSUE FEES, TITLE INSURANCE, AND STATE INSURANCE FEES. $43,326,280 WAS USED TO REFUND A BOND DATED DECEMBER, 1999. Schedule K, Part IV, Line 2B The 2009 bonds were current refunding bonds and the money was spent within two months to pay off the old bonds and pay costs of issuance. The College therefore qualifies for the 6-month exception to rebate requirement. SCHEDULE K, PART IV, LINE 7 The College has policies and procedures that it follows to ensure compliance with arbitrage, yield restriction, and rebate requirements of Section 148; however, these policies and procedures have not been formally documented to date. Over the last several years, the College has focused on ensuring that sufficient documentation exists for all its policies and procedures. As part of this ongoing effort, the College expects to have a written policy in place by the close of FY 2016 (6/30/16). SCHEDULE K, PART V The College has policies and procedures that it follows to address violations under the tax-exempt bonds voluntary closing agreement program; however, these policies and procedures have not been formally documented to date. Over the last several years, the College has focused Judson Shaver President of College Purchase a Condo X 325000 325000 false true true 325000 educational housing services substantial contributor 2034867 student housing provider false compass group north america substantial contributor 855584 food service vendor true aramark substantial contributor 262799 facilities service vendor false greenberg traurig llp substantial contributor 195030 legal service vendor false the glenmede trust company na substantial contributor 112487 investment manager false educational housing services substantial contributor 513774 student housing sublicensee false SCHEDULE L, PART IV, COLUMN (e) (1) AND (6) EDUCATATIONAL HOUSING SERVICES - THE COLLEGE PAYS EDUCATIONAL HOUSING SERVICES FOR student housing that it rents from Educational Housing Services during Fall and Spring terms. In addition, Educational Housing Services pays the College for student housing that it rents from the College during Summer term. These transactions have been reported separately. (2) Compass Group North America - A portion of the fee is based on a percentage of revenues. The other portion is a fixed fee. X 10 128761 high/low price mean false true true Form 990, Schedule M, Part II AT THE ANNUAL PRESIDENT'S GALA DINNER EVENT, MARYMOUNT MANHATTAN COLLEGE HIRED GIVESMART US, INC. TO ASSIST WITH THE AUCTION. GIVESMART EMPLOYEES WERE AT THE EVENT TO MANAGE ALL ASPECTS OF THE AUCTION FROM REGISTRATION TO CHECKOUT. form 990, part iii - program service, line 4a MARYMOUNT MANHATTAN COLLEGE IS AN INDEPENDENT, PRIVATE COLLEGE OF THE LIBERAL ARTS THAT WAS FOUNDED IN 1936 BY THE RELIGIOUS OF THE SACRED HEART OF MARY AS A TWO-YEAR WOMEN'S COLLEGE AND AT THE TIME WAS A NEW YORK CITY EXTENSION OF MARYMOUNT COLLEGE IN TARRYTOWN, NEW YORK. IN 1948, THE COLLEGE MOVED TO ITS PRESENT LOCATION on EAST 71ST STREET IN NEW YORK CITY AND BECAME A FOUR-YEAR BACHELOR'S DEGREE-GRANTING INSTITUTION; THE FIRST CLASS GRADUATED FROM THE COLLEGE IN 1950. IN 1961, THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK GRANTED MARYMOUNT MANHATTAN AN ABSOLUTE CHARTER AS AN INDEPENDENT FOUR-YEAR COLLEGE. MARYMOUNT MANHATTAN HAS BEEN AN ACCREDITED MEMBER OF THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SECONDARY SCHOOLS SINCE THAT TIME. FAITHFUL TO THE VISION OF ITS FOUNDERS, MARYMOUNT MANHATTAN IS THRIVING AS A NONSECTARIAN, COEDUCATIONAL, INDEPENDENT COLLEGE OF THE LIBERAL ARTS, ATTRACTING AND SERVING A DIVERSE COMMUNITY OF STUDENTS, FACULTY, AND STAFF. AS THE COLLEGE MOVES FORWARD WITH ITS FIVE-YEAR 2013-2017 STRATEGIC PLAN, 'DEVELOPING A SUSTAINABLE MODEL', ROOTED IN HERITAGE, VALUES AND STRENGTHS OF MARYMOUNT MANHATTAN AND FOCUSES ON ADVANCING THE MISSION BY IMPROVING ACADEMIC QUALITY, STRENGTHENING FINANCES AND ENHANCING FACILITIES, WE REMAIN COMMITTED TO SERVING A SOCIALLY AND ECONOMICALLY DIVERSE POPULATION. IN ADDITION TO KEEPING TUITION AFFORDABLE, THE ABILITY TO OFFER ASSISTANCE TO STUDENTS IN NEED IS ESSENTIAL TO ACHIEVE THIS GOAL. THE COLLEGE SERVES A STUDENT BODY OF CLOSE TO 1,858 FULL- AND PART-TIME STUDENTS. TODAY, THE COLLEGE DRAWS STUDENTS fROM 47 STATES AND 66 COUNTRIES; APPROXIMATELY 32% OF OUR STUDENTS ARE MINORITIES. RETURNING ADULTS (DEGREE-SEEKING) COMPRISE 9.3% OF OUR STUDENTS. MMC STUDENTS CAN PURSUE DEGREES IN 23 MAJOR PROGRAMS OF STUDY AND CHOOSE FROM AMONG 36 MINORS AND PRE-PROFESSIONAL PROGRAMS TO FOCUS THEIR STUDIES EVEN FURTHER. DURING THEIR COLLEGE CAREERS, STUDENTS CAN STUDY ABROAD, ENGAGE IN SOPHISTICATED RESEARCH PROJECTS, HOLD INTERNSHIPS AT NEW YORK CITY COMPANIES, AND BECOME INVOLVED IN SERVICE-LEARNING OPPORTUNITIES. Form 990, part iii - program service, line 4b Approximately 654 students make their home at marymount manhatten IN ONE OF TWO RESIDENCE HALLS. THE 55TH STREET RESIDENCE IS owned by the college and is OUR FIRST-YEAR RESIDENCE HALL, WHERE STUDENTS LIVE IN SUITE-STYLE ARRANGEMENTS JUST 16 BLOCKS FROM THE COLLEGE. EACH SUITE CONSISTS OF TWO BEDROOMS FURNISHED WITH LOFT BEDS, DRESSERS, AND DESKS, A KITCHEN AND A BATHROOM, PLUS INDIVIDUAL LINES FOR TELEPHONE, CABLE AND COMPUTER ACCESS. THE BUILDING IS STAFFED WITH 24-HOUR SECURITY AND FEATURES OTHER AMENITIES SUCH AS A LAUNDRY ROOM, CONVENIENCE STORE, LOUNGE SPACE, GYM AND BALCONY. CONTINUING STUDENTS CAN OPT TO LIVE AT THE 1760 THIRD AVENUE RESIDENCE HALL, WHICH IS LOCATED AT 97TH STREET AND THIRD AVENUE, AND STUDENTS IN THIS HALL RESIDE IN DOUBLE AND TRIPLE ROOMS WITH PRIVATE BATHROOMS, REFRIGERATOR AND MICROWAVE. EACH STUDENT HAS A BED, DRESSER, AND DESK. 1760 THIRD AVENUE RESIDENCE HALL IS STAFFED WITH 24-HOUR SECURITY AND OFFERS A 3,500 SQUARE FOOT, ON-SITE FITNESS FACILITY, MOVIE SCREENING ROOM, GAME ROOM, LAUNDRY FACILITIES, COMMUNAL KITCHENS, LOUNGE SPACE, AND ACCESS TO COMPUTERS AND A 24-HOUR STUDY LOUNGE. THE RESIDENCE LIFE STAFF OVERSEES ALL LIVING FACILITIES AND STRIVES TO CREATE A SENSE OF COMMUNITY BY PROVIDING EDUCATIONAL AND SOCIAL PROGRAMS. EACH HALL IS STAFFED BY FULL-TIME RESIDENCE DIRECTORS AND RESIDENT ADVISORS. In addition, 26 beds were sub-licensed from the School of Visual Arts since all of the beds were filled at 55th street and 1760 third avenue residence halls. form 990, part iii - program service, line 4c THE PROGRAM FOR ACADEMIC ACCESS ADDRESSES MANY FUNDAMENTAL PRINCIPLES OF MARYMOUNT MANHATTAN'S MISSION. THROUGH THE PROGRAM FOR ACADEMIC ACCESS, WE STRIVE TO ENSURE ACADEMIC SUCCESS OF EVERY STUDENT. ONE-ON-ONE STUDY SESSIONS PERMIT INDIVIDUALIZED ASSISTANCE, BUILDING ON STRENGTHS AND OVERCOMING WEAKNESSES. THE PROGRAM FOR ACADEMIC ACCESS FOSTERS OPPORTUNITIES FOR INTELLECTUAL ACHIEVEMENT AND PERSONAL GROWTH. form 990, part vi, section a, line 11b BOARD REVIEW OF FORM 990 THE FORM 990 IS PREPARED INTERNALLY BY THE STAFF OF THE COLLEGE. THE DRAFT RETURN IS THEN REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM, AND IS MODIFIED UNTIL BOTH ARE SATISFIED WITH THE RETURN. THE AUDIT COMMITTEE CHAIR REVIEWS THE FORM 990 (INCLUDING SCHEDULE B). THEN THE FORM 990 (NOT INCLUDING SCHEDULE B) IS REVIEWED AND APPROVED IN A MEETING ATTENDED BY THE AUDIT COMMITTEE CHAIR, COMMITTEE MEMBERS, MANAGEMENT AND THE INDEPENDENT ACCOUNTANTS. AFTER APPROVAL, THE ENTIRE BOARD OF TRUSTEES IS PROVIDED A PUBLIC INSPECTION COPY OF THE RETURN FOR REVIEW PRIOR TO FILING THE RETURN WITH THE IRS. THE AUDIT COMMITTEE CHAIR, EXECUTIVE VICE PRESIDENT OF ADMINISTRATION AND FINANCE AND THE INDEPENDENT ACCOUNTANTS ARE AVAILABLE TO THE BOARD FOR QUESTIONS. BECAUSE THE BOARD OF TRUSTEES IS PROVIDED WITH A PUBLIC INSPECTION COPY OF THE RETURN (I.E., FORM 990, WITH SCHEDULE B INFORMATION REDACTED), PART VI, LINE 11 HAS BEEN ANSWERED AS NO. form 990, part vi, section b, line 12c CONFLICT OF INTEREST POLICY THE TRUSTEES OF MARYMOUNT MANHATTAN COLLEGE ARE ELECTED TO SERVE THE COLLEGE AND ARE EXPECTED TO CARRY OUT THEIR DUTIES IN A MANNER THAT INSPIRES AND ASSURES THE CONFIDENCE OF THE COLLEGE AND THE BROADER COMMUNITY. ALL ACTIONS BY TRUSTEES WITH RESPECT TO THE COLLEGE AND ITS PROPERTY MUST BE TAKEN SOLELY ON THE BASIS OF A DESIRE TO ADVANCE THE BEST INTERESTS OF THE COLLEGE. TRUSTEES SHALL NOT USE THEIR POSITIONS AS TRUSTEES, OR KNOWLEDGE GAINED THEREFROM, SO THAT A CONFLICT MIGHT ARISE BETWEEN THE INTERESTS OF THE COLLEGE AND THE INDIVIDUAL INTERESTS OF THE TRUSTEES. THE COLLEGE'S TRUSTEES INEVITABLY ARE INVOLVED IN THE AFFAIRS OF OTHER INSTITUTIONS AND ORGANIZATIONS. TRUSTEES MAY FROM TIME TO TIME HAVE RELATIONSHIPS AND AFFILIATIONS THAT MAY RAISE QUESTIONS ABOUT PERCEIVED CONFLICTS OF INTEREST. ALTHOUGH MANY SUCH POTENTIAL CONFLICTS ARE AND WILL BE DEEMED INCONSEQUENTIAL, EACH TRUSTEE HAS THE RESPONSIBILITY TO ENSURE THAT THE ENTIRE BOARD IS MADE AWARE OF SITUATIONS THAT INVOLVE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIPS THAT COULD BE POTENTIAL CONFLICTS. THUS, THE BOARD REQUIRES EACH TRUSTEE (A) CONFIRM THAT HE OR SHE IS FAMILIAR WITH THIS POLICY, (B) DISCLOSE TO THE BOARD CHAIR ANY POSSIBLE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIPS THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST INVOLVING THE COLLEGE, AND (C) AGREE TO SERVE ONLY IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THIS POLICY. A FORM FOR THIS PURPOSE IS ATTACHED, AND SHALL BE COMPLETED BY EACH TRUSTEE AT LEAST ANNUALLY. A "BUSINESS RELATIONSHIP" IS ONE IN WHICH A TRUSTEE OR A MEMBER OF HIS OR HER FAMILY SERVES AS AN OFFICER, DIRECTOR, EMPLOYEE, PARTNER, TRUSTEE OR CONTROLLING STOCKHOLDER OF AN ORGANIZATION THAT DOES BUSINESS WITH THE COLLEGE. A "FAMILY MEMBER" IS A SPOUSE, PARENT, SIBLING OR CHILD OF A TRUSTEE, OR ANY OTHER RELATIVE LIVING IN THE TRUSTEE'S HOUSEHOLD. IF A TRUSTEE IS UNCERTAIN WHETHER TO DISCLOSE A PARTICULAR RELATIONSHIP, THE BOARD CHAIR SHOULD BE CONSULTED. THE CHAIR MAY ELECT TO SEEK THE JUDGMENT OF THE EXECUTIVE COMMITTEE IN DETERMINING WHETHER A RELATIONSHIP GIVES RISE TO A CONFLICT OF INTEREST OR SHOULD OTHERWISE BE DISCLOSED TO THE BOARD. THE CHAIR AND THE EXECUTIVE COMMITTEE SHALL KEEP ANY CONSULTATION CONFIDENTIAL UNLESS AND UNTIL THEY DETERMINE THAT THE BEST INTERESTS OF THE COLLEGE REQUIRE DISCLOSURE. A TRUSTEE WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN ANY CONSIDERATION BY THE BOARD OF A MATTER RELATING TO THE CONFLICT. form 990, part vi, section b, line 15a & 15b COMPENSATION REVIEW THE ORGANIZATION HAS INSTITUTED A PROCESS TO REVIEW THE COMPENSATION PAID TO ITS PRESIDENT, OFFICERS, AND KEY EMPLOYEES GIVING RISE TO A REBUTTABLE PRESUMPTION THAT THE COMPENSATION IS REASONABLE IN ACCORDANCE WITH treas. reg. 53.4958-6. COMPENSATION FOR THE PRESIDENT, EXECUTIVE VICE PRESIDENT OF ADMINISTRATION AND FINANCE, VICE PRESIDENT OF ACADEMIC AFFAIRS, VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT, AND THE VICE PRESIDENT OF STUDENT AFFAIRS IS DETERMINED BY A PROCESS THAT INCLUDES THE USE OF COMPARABILITY DATA, REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE COLLEGE'S BOARD OF TRUSTEES, AND CONTEMPORANEOUS RECORDKEEPING OF DELIBERATIONS AND DECISIONS. form 990, part vi, section c, line 19 PUBLIC DISCLOSURE OF GOVERNING DOCUMENTS THE COLLEGE MAKES ITS FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH ITS WEBSITE. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG. OTHER GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART I AND PART X IN 2015, THE COLLEGE ADOPTED ASU NO. 2015-03, SIMPLIFYING THE PRESENTATION OF DEBT ISSUANCE COSTS, WHICH REQUIRES DEBT ISSUANCE COSTS RELATED TO A RECOGNIZED DEBT LIABILITY TO BE PRESENTED ON THE BALANCE SHEETS AS A DIRECT DEDUCTION FROM THE DEBT LIABILITY. THE COLLEGE APPLIED THE PROVISION UPDATE RESTROSPECTIVELY TO 2014. AS A RESULT, THE PRESENTATION FOR PRIOR YEAR YEAR AMOUNTS HAS BEEN ADJUSTED ON PART 1 AND PART X. E 55th St Condo FIrstService Residential 622 Third Avenue New York NY 10017 582636459 Student Housing NY Marymount C Corp 1950694 1379141 0.70700 true false false false false false false false false false false false false true false false true false false false E 55th St Condominium p 910492 per ownership % E 55TH ST CONDOMINIUM M 58985 per ownership % form 990, schedule r, PART II THE COLLEGE IS A 70.70% OWNER OF A CONDOMINIUM (231-235 EAST 55TH STREET CONDOMINIUM) THAT IS USED FOR DORMITORY PURPOSES, WHICH HOUSES UP TO 512 STUDENTS. THE RESIDENCE IS OUR FIRST-YEAR RESIDENCE HALL, WHERE STUDENTS LIVE IN SUITE-STYLE ARRANGEMENTS JUST 16 BLOCKS FROM THE COLLEGE. EACH SUITE CONSISTS OF TWO BEDROOMS FURNISHED WITH LOFT BEDS, DRESSERS, AND DESKS, A KITCHEN AND A BATHROOM, PLUS INDIVIDUAL LINES FOR TELEPHONE, CABLE AND COMPUTER ACCESS. THE BUILDING IS STAFFED WITH 24-HOUR SECURITY AND FEATURES OTHER AMENITIES SUCH AS A LAUNDRY ROOM, CONVENIENCE STORE, LOUNGE SPACE, GYM, BALCONY AND HEALTH CENTER. THE OTHER 29.30% ARE CONDOMINIUMS OWNED BY A PRIVATE DEVELOPER AND INDIVIDUALS WHO ARE NOT AFFILIATED WITH THE COLLEGE. THE CONDOMINIUM PORTION IS REQUIRED TO HAVE A CERTAIN AMOUNT OF ASSETS AND THEREFORE THE AMOUNT NOTED IN PART IV (G), SHARE OF END-OF-YEAR ASSETS, IN THE AMOUNT OF $1,379,141, IS BASED ON THE COLLEGE'S OWNERSHIP PERCENTAGE BUT IN ACTUALITY THE COLLEGE DOES NOT HAVE RIGHTS TO MAJORITY OF THESE ASSETS.