2016-06-30T12:14:29-05:00 2015-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-09-01 110461385 VAUGHN COLLEGE OF AERONAUTICS AND TECHNO TECHNOLOGY VAUG 7184296600 8601 23RD AVENUE EAST ELMHURST NY 11369 ROBERT G WALDMANN VP FINANCE & BUSINESS SERVICES 7184296600 2016-06-30 1 ROBERT R LYONS CPA P00227472 2125038800 2014 2016-09-27 15:27:22Z SHARON DEVIVO 8601 23RD AVENUE EAST ELMHURST NY 11369 44600008 0 X WWW.VAUGHN.EDU X 1932 NY VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY PROVIDES A CULTURE OF EXCELLENCE IN WHICH RIGOROUS DEGREE, PROFESSIONAL, TECHNICAL AND CERTIFICATION PROGRAMS ARE OFFERED. THESE PROGRAMS, BUILT UPON OUR AERONAUTICAL HERITAGE, WILL INCORPORATE THE LATEST TECHNOLOGY AND MEET THE UNIVERSAL NEEDS OF THE INDUSTRIES THEY SERVE. THE RESULT WILL BE WELL-EDUCATED GRADUATES WHO ARE TRAINED, QUALIFIED AND SUCCESSFUL IN THEIR FIELDS. 20 19 569 19 0 0 10760532 6464418 32214818 33536773 437130 405922 396485 85479 43808965 40492592 3969661 3950819 0 0 17167237 17859940 0 0 670379 17486046 19689297 38622944 41500056 5186021 -1007464 108753716 107574766 60421519 60830244 48332197 46744522 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY IS AN INSTITUTION DEDICATED TO PROVIDING A DISTINCTIVE EDUCATION TO A DIVERSE POPULATION OF STUDENTS. OUR MISSION IS TO CREATE AN ENVIRONMENT THAT CULTIVATES PERSONAL GROWTH AND LEADERSHIP IN PREPARATION FOR SUCCESSFUL CAREERS. 0 0 25680534 3950819 31085136 INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,650 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS. 2884973 2451637 AUXILIARY SERVICES - VAUGHN OPERATES A 220 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2014/2015 APPROXIMATELY 172 STUDENTS WERE LIVING IN THE RESIDENCE HALL. . 28565507 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2601 0 569 1 0 0 0 0 0 1 1 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 ROBERT G WALDMANN 7184296600 86-01 23RD AVENUE FLUSHING NY 11369 GEN CRAIG R MCKINLEY TRUSTEE 1.00 X 0 0 0 THOMAS APPERSON TREASURER 1.00 X X 0 0 0 ELAINE ASCH-ROOT TRUSTEE 1.00 X 0 0 0 SUSAN BAER VICE CHAIR 1.00 X X 0 0 0 ANNE CRUDGE SECRETARY 1.00 X X 0 0 0 JOHN H ENDERS TRUSTEE 1.00 X 0 0 0 PETER VAUGHN TRUSTEE 1.00 X 0 0 0 MONROE W HATCH JR TRUSTEE 1.00 X 0 0 0 CLYDE KIZER TRUSTEE 1.00 X 0 0 0 THOMAS S MAROTTA TRUSTEE 1.00 X 0 0 0 THOMAS J MCKEE CHAIR 1.00 X X 0 0 0 KATHERINE POSNER TRUSTEE 1.00 X 0 0 0 FRANK L ROSENBERG TRUSTEE 1.00 X 0 0 0 OSWIN MOORE TRUSTEE 1.00 X 0 0 0 DR AGAM N SINHA TRUSTEE 1.00 X 0 0 0 GEORGE A VAUGHN TRUSTEE 1.00 X 0 0 0 JOSEPH A WERNER TRUSTEE 1.00 X 0 0 0 SHARON DEVIVO PRESIDENT 40.00 X X 291737 0 39397 LYSA C SCULLY TRUSTEE 1.00 X 0 0 0 KEN STAUFFER TRUSTEE 1.00 X 0 0 0 ROBERT G WALDMANN VP FINANCE & BUSINESS SERVICES 40.00 X 224934 0 33424 ERNIE SHEPELSKY VP ENROLLMENT MGT. 40.00 X 193186 0 39813 DOMENIC PROSCIA VP TRAINING 40.00 X 140774 0 23169 PAUL LAVERGNE VICE PRESIDENT OF ACADEMIC AFFAIRS 40.00 X 150146 0 31364 VINCENT PAPANDREA VP INSTITUTION RELATIONS 40.00 X 146960 0 24716 SAID LAMHAOUAR VP STUDENT AFFAIRS & ACADEMIC SUP. 40.00 X 144033 0 23384 HOSSEIN RAHEMI PROFESSOR 40.00 X 153288 0 30293 MAXINE LUBNER PROFESSOR 40.00 X 137705 0 19693 JOSEPH ZYCH PROFESSOR 40.00 X 139990 0 30559 BHASKHARAN JADONATH PROFESSOR 40.00 X 129398 0 19465 RAYMOND ADDABBO PROFESSOR 40.00 X 148590 0 31865 JOHN C FITZPATRICK PRES. (FORMER) RETIRED 07/2014 40.00 X 356815 0 66312 2357556 0 413454 32 1 1 0 STALCO CONSTRUCTION 1316 MOTOR PARWAY ISLANDIA NY 11749 CONSTRUCTION 5390686 AUSTIN WILLIAMS 125 KENNEDY DRIVE SUITE 100 HAUPPAUGE NY 11788 ADVERTISING 1019802 AVIATION CAFE CORP 86-01 23RD AVE FLUSHING NY 11369 FOOD 774408 HERITAGE FLIGHT ACADEMY ISLIP MACARTHUR AIRPORT 2075 SMITHT RONKONKOMA NY 11779 FLIGHT TRAINING 599970 LABOR MANAGEMENT CONCEPTS INC 200 BELLEVILLE TURNPIKE N ARLINGTON NJ 07301 SECURITY 581587 16 141229 6221372 101817 58273 6464418 STUDENT TUITION & FEES 611710 31085136 31085136 AUXILIARY REVENUE 900099 2451637 2451637 33536773 393386 393386 4032454 4019918 12536 12536 12536 87498 141229 87498 0 MISCELLANEOUS FEES 900099 85479 85479 85479 40492592 33536773 0 491401 3950819 3950819 1854762 1280069 546567 28126 12701670 8802340 3745723 153607 786807 546910 232029 7868 1526496 1061067 450164 15265 990205 688292 292011 9902 201788 201788 98400 98400 63545 63545 1840842 1209670 506205 124967 1877883 1278930 553788 45165 889321 589034 262261 38026 6486 6486 1847507 1302677 544830 609343 411434 172842 25067 64594 42426 19049 3119 2373820 1673543 700277 3502303 2469124 1033179 99914 70439 29475 COLLEGE RELATIONS 1763936 1106263 464135 193538 BAD DEBT 1300000 1300000 MISCELLANEOUS 576687 576687 2572928 2075984 471215 25729 41500056 28565507 12264170 670379 1417370 484976 1092014 633029 2863924 3899027 342249 325758 123487524 46432201 76999273 77055323 25014028 24207661 1024858 968992 108753716 107574766 3163497 2844204 3168522 3133321 35067069 34219697 18763507 20356213 258924 276809 60421519 60830244 X 17427071 14049307 30740787 32530376 164339 164839 48332197 46744522 108753716 107574766 -1007464 -580211 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 3498762 500 -76392 43612 3379258 3059491 8000 479602 48331 3498762 2788426 3900 326217 59052 3059491 2660584 5300 176562 54020 2788426 2482586 300 231117 53419 2660584 0.04880 0.95120 0 0 4527833 4527833 99415717 26888227 72527490 19543974 19543974 0 77055323 ALTERNATIVE INVESTMENTS 21487220 F AMOUNTS HELD BY BOND TRUSTEE 2720441 F 24207661 ASSET RETIREMENT OBLIGATION 114000 CAPITAL LEASE OBLIGATION 162809 276809 X 39939631 -580211 27250 -552961 40492592 0 40492592 41527306 27250 27250 41500056 0 41500056 PART V, LINE 4: TO PROVIDE FUNDS FOR STUDENT SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2015 AND 2014 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE COLLEGE IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED AUGUST 31, 2012 AND PRIOR YEARS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CATALOG SCHEDULE E, PART I, LINE 6 VAUGHN COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY (FWS) PROGRAM AND THE PERKINS LOAN PROGRAM. INDIA 0 0 INSTRUCTIONAL AIRPORT/AIRLINE MANAGEMENT; ELECTRICAL ENGINEERING TECHNOLOGY 67742 0 0 0 0 0 0 67742 0 67742 0 0 0 0 0 0 GALA 228727 141229 87498 87498 228727 141229 87498 87498 87498 0 1 SCHOLARSHIPS 1289 3950819 FMV TUITION ASSISTANCE PART I, LINE 2: THE COLLEGE OFFERS SEVERAL SCHOLARSHIP OPPORTUNITIES FOR STUDENTS. THE PRIMARY SCHOLARSHIPS AND THE GUIDELINES FOR QUALIFYING ARE: FOUNDERS SCHOLARSHIPS - THESE SCHOLARSHIPS ARE AWARDED TO STUDENTS UPON ACCEPTANCE TO A BACHELOR OF SCIENCE DEGREE PROGRAM AT VAUGHN. TO BE CONSIDERED, APPLICANTS MUST ATTAIN A CUMULATIVE HIGH SCHOOL AVERAGE OF AT LEAST A "B AND A COMBINED SAT1 SCORE OF AT LEAST 1000. STUDENTS WHO MEET THESE MINIMUM CRITERIAS WILL BE CONSIDERED FOR AWARDS, BASED ON THEIR GRADES AND EXAM SCORES, BY VAUGHN COLLEGE'S SCHOLARSHIP COMMITTEE. THE AWARDS MAY BE RENEWABLE FOR UP TO FOUR YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GRADE POINT AVERAGE (GPA). BOARD OF TRUSTEES GRANTS - THE BOARD OF TRUSTEE ALLOCATES FUNDS TO BE USED IN AWARDING GRANT-IN-AID ASSISTANCE TO NEW AND CONTINUING STUDENTS. GRANTS ARE AWARDED TO STUDENTS WHO ARE MATRICULATING ON A FULL OR PART-TIME BASIS IN BACHELOR AND ASSOCIATE DEGREE PROGRAMS. RECIPIENTS ARE SELECTED ON THE BASIS OF THEIR ACADEMIC PERFORMANCE AND FINANCIAL AID STATUS. AWARDS ARE DESIGNATED FOR A SPECIFIC ACADEMIC YEAR AND ARE RENEWABLE EACH SEMESTER BASED ON SATISFACTORY ACADEMIC PERFORMANCE AND THE AVAILABILITY OF FUNDS. TRANSFER STUDENT SCHOLARSHIP - STUDENTS WHO TRANSFER TO THE COLLEGE HAVING COMPLETED 24 OR MORE CREDITS AT AN ACCREDITED COLLEGE OR UNIVERSITY, AND WHO HAVE ACHIEVED A CUMULATIVE GRADE POINT AVERAGE OF AT LEAST 3.0 (INCLUDING ALL COURSES AT EVERY INSTITUTION ATTENDED) MAY BE AWARDED SCHOLARSHIPS TO TRANSFER. THE AWARDS MAY BE RENEWABLE FOR UP TO THREE YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GPA. ACADEMIC EXCELLENCE SCHOLARSHIPS - ACADEMIC EXCELLENCE SCHOLARSHIPS ARE AWARDED EACH YEAR TO CONTINUING STUDENTS ON THE BASIS OF OUTSTANDING ACADEMIC ACHIEVEMENT AND SELECTION FOR ACADEMIC HONORS. THE CRITERIA APPLIED IN DECIDING ELIGIBILITY FOR THESE AWARDS INCLUDE CUMULATIVE GPA AND SATISFACTORY COMPLETION OF AT LEAST TWO SEMESTERS (29 CREDITS/UNITS OR MORE) AS A MATRICULATED STUDENT. X X X X X 0 0 0 0 0 0 0 0 0 SHARON DEVIVO PRESIDENT 285635 0 0 0 6102 0 0 0 39397 0 331134 0 0 0 ROBERT G WALDMANN VP FINANCE & BUSINESS SERVICES 218120 0 0 0 6814 0 0 0 33424 0 258358 0 0 0 ERNIE SHEPELSKY VP ENROLLMENT MGT. 188735 0 0 0 4451 0 0 0 39813 0 232999 0 0 0 DOMENIC PROSCIA VP TRAINING 140774 0 0 0 0 0 0 0 23169 0 163943 0 0 0 PAUL LAVERGNE VICE PRESIDENT OF ACADEMIC AFFAIRS 150146 0 0 0 0 0 0 0 31364 0 181510 0 0 0 VINCENT PAPANDREA VP INSTITUTION RELATIONS 144592 0 0 0 2368 0 0 0 24716 0 171676 0 0 0 SAID LAMHAOUAR VP STUDENT AFFAIRS & ACADEMIC SUP. 144033 0 0 0 0 0 0 0 23384 0 167417 0 0 0 HOSSEIN RAHEMI PROFESSOR 153288 0 0 0 0 0 0 0 30293 0 183581 0 0 0 MAXINE LUBNER PROFESSOR 137705 0 0 0 0 0 0 0 19693 0 157398 0 0 0 JOSEPH ZYCH PROFESSOR 139990 0 0 0 0 0 0 0 30559 0 170549 0 0 0 RAYMOND ADDABBO PROFESSOR 148590 0 0 0 0 0 0 0 31865 0 180455 0 0 0 JOHN C FITZPATRICK PRES. (FORMER) RETIRED 07/2014 351100 0 0 0 5715 0 25693 0 40619 0 423127 0 0 0 A NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY 132906040 649438BZ0 2006-12-21 40059248 CONSTRUCTION OF FACILITY AND REFUNDING OF PRIOR ISSUE (6/18/98) 0 0 0 A 5560000 40630938 2720441 723828 19188641 19346159 2008 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 X ENGINES 2 31250 FMV X JTSD TOOL KITS 2 13150 FMV X AIRLINE TICS. 10 9000 FMV X EMPLOYEE APPRECIATION DAY 16 2580 FMV X EXPENSE DONATION 1 1280 FMV X FOOD DONATIONS 7 506 FMV X JETS TICKETS 4 407 FMV X EQUIPMENT 1 100 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 PETER VAUGHN IS THE NEPHEW OF GEORGE A. VAUGHN FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE AND THE BOARD REVIEW THE 990 IN DETAIL. ONCE FORMALLY APPROVED THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IN MAY 2007, A NEW BOARD OF TRUSTEES - CONFLICT OF INTEREST POLICY AND PROCEDURE WAS ADOPTED. THE POLICY AND PROCEDURE INCLUDES AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH MUST BE COMPLETED, SIGNED AND SUBMITTED BY EACH BOARD MEMBER EVERY YEAR IN MAY. THE PRESIDENT'S SECRETARY CONFIRMS RECEIPT OF THE STATEMENTS AND KEEPS THEM ON FILE. IN JULY 2009, AN OFFICERS AND MANAGEMENT STAFF CONFLICT OF INTEREST POLICY AND PROCEDURES WAS ADOPTED. THE POLICY AND PROCEDURES ALSO INCLUDES A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS COMPLETED, SIGNED AND SUBMITTED ON AN ANNUAL BASIS. THE ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES AND COLLEGE SERVICES CONFIRMS RECEIPT, REVIEWS THE FORMS AND KEEPS THEM ON FILE. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE WITH STAFF ASSISTANCE FROM THE COLLEGE'S EXTERNAL LEGAL COUNSEL. COUNSEL USES THE FOLLOWING COMPENSATION FACTORS AND SOURCES TO ASSIST THE COMMITTEE IN ITS DECISION MAKING PROCESS: COMPENSATION FACTORS - A. COMPENSATION LEVELS PAID BY SIMILAR ORGANIZATIONS B. LEVEL OF PERSON'S EDUCATION AND EXPERIENCE C. SPECIFIC RESPONSIBILITIES OF POSITION D. PREVIOUS SALARY OR COMPENSATION PACKAGE E. SIMILAR SERVICES IN THE SAME GEOGRAPHIC OR METROPOLITAN AREA F. SIMILAR NUMBER OF STUDENTS G. ANNUAL BUDGET AND/OR GROSS REVENUE/ASSETS H. NATURE OF CURRICULUM (E.G., 2 YEAR VS. 4 YEAR UNDERGRADUATE VS. GRADUATE) COMPENSATION SOURCES - A. PUBLISHED SURVEYS OF COMPENSATION AT SIMILAR INSTITUTIONS B. INTERNET RESEARCH ON COMPENSATION AT SIMILAR INSTITUTIONS C. FORMS 990 FILED BY OTHER COLLEGES AND UNIVERSITIES D. ANNUAL BUDGET OR GROSS REVENUE/ASSETS LINE 15B: THE PRESIDENT SETS THE COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. SHE USES SIMILAR COMPENSATION FACTORS AND SOURCES AND ADVISES THE COMPENSATION COMMITTEE OF HER DECISIONS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION KEEPS A COPY OF ITS IRS FORM 990 IN ITS LIBRARY FOR EXAMINATION BY THE PUBLIC. A SUMMARY OF ITS KEY FINANCIAL RESULTS IS PRINTED IN ITS MAGAZINE - ANNUAL REPORT EDITION. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.