2016-01-12T08:08:53-06:00 2015-06-30 030276150 SULLIVAN POWERS & COMPANY 77 BARRE ST PO BOX 947 MONTPELIER VT 05601 990 2014-07-01 208384273 VERMONT COLLEGE OF FINE ARTS INC VERM 8028288600 36 COLLEGE STREET MONTPELIER VT 05602 ERICA HARE CFO 8028288600 2016-01-12 1 WENDY C GILWEE CPA P00450631 8022232352 2014 2016-04-25 22:37:26Z THOMAS GREENE 36 COLLEGE STREET MONTPELIER VT 05602 10215248 0 X WWW.VCFA.EDU X 2006 VT VERMONT COLLEGE OF FINE ARTS (VCFA) IS A NATIONAL CENTER FOR EDUCATION IN THE ARTS, FOSTERING THE EXCELLENCE OF EMERGING AND ESTABLISHED ARTISTS AND ADVANCING THE ARTS TO CREATE A MORE HUMANE WORLD. 20 19 157 40 0 0 774957 1443925 8970998 8672352 15315 20009 0 75988 9761270 10212274 82825 67879 0 0 6209055 6517930 2728 16000 219759 3099719 3193855 9394327 9795664 366943 416610 15981428 18084273 11080361 12766596 4901067 5317677 VERMONT COLLEGE OF FINE ARTS (VCFA) IS A NATIONAL CENTER FOR EDUCATION IN THE ARTS, FOSTERING THE EXCELLENCE OF EMERGING AND ESTABLISHED ARTISTS AND ADVANCING THE ARTS TO CREATE A MORE HUMANE WORLD. 0 0 6327107 67879 7426091 EDUCATIONAL - SIX (6) MASTER OF FINE ARTS PROGRAMS INCLUDING WRITING, WRITING FOR CHILDREN AND YOUNG ADULTS, VISUAL ARTS, GRAPHIC DESIGN, MUSIC COMPOSITION AND FILM AND TWO (2) MASTERS PROGRAMS INCLUDING WRITING AND PUBLISHING; AND TEACHING ART AND DESIGN. 383397 724292 RENTAL - LONG-TERM LEASES TO EDUCATIONAL AND NON-PROFIT ORGANIZATIONS THAT FILL THE CAMPUS WHICH IS THE HOME TO SIX LOW RESIDENCY MASTER OF FINE ARTS PROGRAMS. 660322 599237 AUXILIARY SERVICES (ROOM AND BOARD, CONFERENCE AND MEETING SPACE RENTAL) AND PUBLIC SERVICE. 7370826 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 149 0 1 157 1 0 0 0 0 0 0 0 0 X 20 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ERICA HARE 8028288545 36 COLLEGE STREET MONTPELIER VT 05602 TAMI LEWIS BROWN TRUSTEE 4.00 X 0 0 0 DR LETITIA CHAMBERS TRUSTEE 2.00 X 0 0 0 CORNELIUS HOGAN TRUSTEE 2.00 X 0 0 0 SUSAN M NEWBOLD TRUSTEE 4.00 X 0 0 0 KATHERINE PATERSON TRUSTEE 2.00 X 0 0 0 RICHARD H SAUDEK TRUSTEE 2.00 X 0 0 0 DR PETER SMITH TRUSTEE 2.00 X 0 0 0 TOM GREENE PRESIDENT 35.00 X X 243638 0 48634 TOBIN MT ANDERSON TRUSTEE 4.00 X 0 0 0 ROBERT ATWELL TRUSTEE 2.00 X 0 0 0 CHRIS GRAFF TRUSTEE 2.00 X 0 0 0 WILLIAM SCHUBART CHAIR 4.00 X X 0 0 0 JOAN GRUBIN TRUSTEE 4.00 X 0 0 0 CHARLES BUNTING TRUSTEE 4.00 X 0 0 0 PETER WATSON TRUSTEE 4.00 X 0 0 0 SUSAN SPAULDING TRUSTEE 2.00 X 0 0 0 ELIZA COOKE BROWNING VICE CHAIR 2.00 X X 0 0 0 JEFF WIGGINS TRUSTEE 2.00 X 0 0 0 ROBERT MACAULEY TRUSTEE 2.00 X 0 0 0 CASPER MARTIN TRUSTEE 2.00 X 0 0 0 MATTHEW MONK ACADEMIC DEAN 35.00 X 150402 0 20958 WILLIAM KAPLAN COLLEGE VICE PRESIDENT 35.00 X 143641 0 26500 ERICA HARE COLLEGE CFO 35.00 X 148675 0 26890 686356 0 122982 4 0 1 0 CONNOR CONTRACTING INC 1100 US ROUTE 2 BERLIN VT 05602 CONSTRUCTION SERVICES 128349 ENNEAD ARCHITECTS 320 WEST 13TH STREET NEW YORK NY 10014 ARCHITECTUAL DESIGN 110796 2 15255 1428670 101628 1443925 TUITION 900099 7228106 7228106 RENTAL INCOME 531190 724292 724292 AUXILIARY ENTERPRISES 900099 599237 599237 BOOKSTORE 451211 67952 67952 OTHER REVENUE 900099 52765 52765 8672352 20303 20303 1400 1694 -294 -294 -294 0 15255 1280 -1280 -1280 INSURANCE CLAIM REVENUE 900099 77268 77268 77268 10212274 8749620 0 18729 67879 67879 504342 185639 223092 95611 5013150 4336204 636634 40312 142689 103410 38939 340 492402 291838 175050 25514 365347 287894 65616 11837 116335 116335 47276 47276 16000 16000 1936 1936 280608 193753 76475 10380 403064 10354 388926 3784 224631 182276 36154 6201 163035 121189 40765 1081 388402 302954 83903 1545 280225 219949 59437 839 248524 225768 21372 1384 357655 337735 18736 1184 391570 369761 20513 1296 64201 64201 MISCELLANEOUS 218161 134042 81668 2451 LATE FEES AND OTHER MIS 8232 181 8051 9795664 7370826 2205079 219759 1057650 1223496 2080966 1982250 700928 498436 121351 202003 263053 187679 68545 56852 783994 748594 14957411 2218284 10526432 12739127 33697 34876 344812 410960 15981428 18084273 790670 1228475 1866541 2049654 8401210 9465527 21940 22940 11080361 12766596 X 2686548 4137546 1993185 958772 221334 221359 4901067 5317677 15981428 18084273 416610 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 485179 X X X 0 514513 25 1534 4499 511573 522400 1232 9119 514513 520489 1911 522400 516516 5000 1973 3000 520489 465371 82128 2187 8000 25170 516516 0.10220 0.43270 0.46510 0 0 269990 269990 10998965 1410746 9588219 998342 546108 452234 2690114 261430 2428684 12739127 BUILDING SECURITY DEPOSITS 22940 22940 X 10145969 1574 1574 10144395 67879 67879 10212274 9729359 1574 1574 9727785 67879 67879 9795664 PART III, LINE 4: THE COLLECTIONS, WHICH CONSIST OF LIBRARY BOOKS, PERIODICALS AND RELATED MATERIAL, A PIPE ORGAN AND WORKS OF ART WERE PRIMARILY ACQUIRED THROUGH THE PURCHASE OF THE CAMPUS. THE LIBRARY COLLECTION ASSISTS THE STUDENTS WITH THEIR SCHOLARLY RESEARCH. THE PIPE ORGAN AND WORKS OF ARTS ARE AVAILABLE FOR PUBLIC EXHIBITION THROUGHOUT THE CAMPUS. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF SIX (6) INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. GARY LIBRARY FUND - FOR LIBRARY BUILDINGS AND MAINTENANCE. HADLEY FUND - FOR GLOVER/HADLEY DORM MAINTENANCE. DOLAN MINORITY SCHOLARSHIP FUND - PROVIDES SCHOLARSHIPS TO MFA VISUAL ART MINORITY STUDENTS. KINGSLEY MEMORIAL ENDOWMENT FUND - STUDENT SCHOLARSHIPS. IT'S NEVER TOO LATE SCHOLARSHIP FUND - STUDENT SCHOLARSHIPS. GENERAL ENDOWMENT - STUDENT SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE ADOPTED PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD INTERPRETATION NO. 48, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES." THE COLLEGE EVALUATES ITS UNCERTAIN TAX POSITIONS USING THE PROVISIONS OF FASB ASC 450, "CONTINGENCIES". ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. THE COLLEGE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ITS POSITIONS ARE LIKELY TO BE SUSTAINED UPON EXAMINATION. NO PROVISION FOR INCOME TAX IS REQUIRED FOR 2015 OR 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF COMPUTER 294. FUNDRAISING EXPENSES FOR HUNGER MOUNTAIN AUCTION 1,280. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 67,879. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF COMPUTER 294. FUNDRAISING EXPENSES FOR HUNGER MOUNTAIN AUCTION 1,280. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 67,879. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 VCFA BOARD RESOLUTION DOCUMENTS NONDISCRIMINATORY POLICY. NONDISCRIMINATORY POLICY IS ON BROCHURES, CATALOGS, APPLICATION MATERIALS AND WEBSITE. SCHEDULE E, PART I, LINE 6 DIRECT FEDERAL LOANS FOR STUDENT FINANCIAL AID (SUBSIDIZED, UNSUBSIDIZED AND PLUS LOANS) X X 1 SAMETZ BLACKSTONE ASSOCIATES INC 40 WEST NEWTON STREET BLACKSTONE SQ BOSTON MA 02118 MICRO-SITE/MESSAGING OF THE CAPITAL CAMPAIGN 0 0 16000 -16000 16000 -16000 NH HUNGER MOUNTAIN AUCTION 15255 15255 1280 15255 15255 1280 1280 -1280 SCHEDULE G, PART I, LINE 2B, COLUMN (V) ALL PAYMENTS TO SAMETZ BLACKSTONE ASSOCIATES, INC. WERE INCURRED FOR THE DEVELOPMENT AND USE OF A MICRO-SITE TO DELIVER THE MESSAGING FOR THE CAPITAL CAMPAIGN FUNDRAISING. 1 SCHOLARSHIPS 41 67879 PART I, LINE 2: STUDENTS AWARDED SCHOLARSHIPS MUST BE ENROLLED, AND FOR CONTINUED FUNDING, MUST SUCCESSFULLY COMPLETE THE SEMESTER PROJECT; SOME SCHOLARSHIPS REQUIRES MANUSCRIPT SUBMISSION, REVIEW AND SELECTION BY FACULTY. X 1 0 X X X X X 0 1 0 0 0 0 0 0 0 TOM GREENE PRESIDENT 205611 0 0 0 38027 0 29601 0 19033 0 292272 0 0 0 MATTHEW MONK ACADEMIC DEAN 150402 0 0 0 0 0 8155 0 12803 0 171360 0 0 0 WILLIAM KAPLAN COLLEGE VICE PRESIDENT 143641 0 0 0 0 0 7687 0 18813 0 170141 0 0 0 ERICA HARE COLLEGE CFO 148675 0 0 0 0 0 8092 0 18798 0 175565 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT STATES THAT HE WILL RECEIVE A MONTHLY HOUSING ALLOWANCE OF $2,500 FOR A TOTAL YEARLY ALLOWANCE OF $30,000. PART I, LINE 1B HOUSING STIPEND PROVIDED PER CONTRACTUAL AGREEMENT. PART I, LINE 4B EFFECTIVE FOR FISCAL YEAR 2012 THE COLLEGE OPENED A 457(B) PLAN FOR THE PRESIDENT AND $16,500 WILL BE DEPOSITED ANNUALLY. ALSO, IN FISCAL YEAR 2012, THE COLLEGE AGREED TO SET ASIDE IN A CERTIFICATE OF DEPOSIT $33,500 ANNUALLY FOR FIVE (5) YEARS TO BE CONSIDERED DEFERRED COMPENSATION. AT THE END OF THE FIFTH YEAR THE COMPENSATION WILL BE PAID OUT LESS NORMAL WITHHOLDINGS FOR STATE AND FEDERAL TAXES, FICA AND THE LIKE. X 1 95130 NET BOOK VALUE X EQUIPMENT 2 6498 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 LETITIA CHAMBERS AND PETER SMITH, BOARD MEMBERS, ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WILL BE REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FINAL SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE IS REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 BOARD DETERMINES PRESIDENT'S SALARY BASED ON EVALUATION AND COMPARING DATA WITH SIMILAR INSTITUTIONS, AND APPROVES PRESIDENT'S SALARY. PRESIDENT EVALUATES AND DETERMINES THE OTHER OFFICER'S SALARIES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND 990 AVAILABLE FOR PUBLIC INSPECTION UPON EACH REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON EACH INDIVIDUAL REQUEST. THE CONFLICT OF INTEREST POLICY IS MADE AVAILABLE TO THE PUBLIC THROUGH THE ORGANIZATIONS WEBSITE UNDER POLICIES AND UPON EACH INDIVIDUAL REQUEST. VERMONT COLLEGE OF FINE ARTS FOUNDATION INC 36 COLLEGE STREET MONTPELIER VT 05602 474302610 PROVIDE FINANCIAL SUPPORT FOR THE EDUCATIONAL MISSION OF THE COLLEGE VT 501(C)(3) LINE 11A, I VERMONT COLLEGE OF FINE ARTS INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0