2016-02-12T10:00:14-06:00 2015-06-30 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2014-07-01 141468399 Mount Saint Mary College MOUN 8455613209 330 Powell Avenue Newburgh NY 125503412 Nancy Mazza Interim CFO 2016-02-11 true Rachel Spurlock P00520729 5023263996 2014 2016-08-17 19:52:53Z Nancy Mazza 330 Powell Avenue Newburgh NY 125503412 84598835 false X www.msmc.edu X 1960 NY The College is an independent, coeducational institution committed to providing students with a liberal arts education to prepare them for lives of leadership and service. Through a variety of majors and professional programs, students are also prepared for career entry or graduate and professional studies. 23 22 1165 26 0 0 2092271 2022683 67188631 69228937 2093546 1585367 -25737 -15480 71348711 72821507 16158664 16257412 0 0 29339762 29454622 24157 23469 624503 26042296 27337517 71564879 73073020 -216168 -251513 212793270 208612883 72189306 70117785 140603964 138495098 As reflected in its motto "Doce Me Veritatem" (Teach me the Truth), Mount Saint Mary College is an independent, coeducational institution committed to providing students with a liberal arts education to prepare them for lives of leadership and service. Through a variety of majors and professional programs, students are also prepared for career entry or graduate and professional studies. Consistent with Judeo-Christian values and the Dominican tradition of education that values the inherent worth of the individual, the mission of Mount Saint Mary College is to create an environment which fosters close student-faculty interaction that enables students to reach their full potential as lifelong learners. Mount Saint Mary College strives to provide a stimulating environment that promotes the intellectual and personal growth of undergraduate, graduate and continuing education students. false false 46741081 16257412 52972224 MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2,500 FULL AND PART TIME STUDENTS, REPRESENTING OVER 16 STATES AND SEVERAL COUNTRIES. 13894379 0 12850176 ROOM AND BOARD: THE COLLEGE SEEKS TO OFFER OUR STUDENTS INCLUSIVE COMMUNITIES, SOCIAL, AND EDUCATIONAL OPPORTUNITIES, AND SAFE AND WELL-MAINTAINED RESIDENCE FACILITIES. ALL OF OUR RESIDENCE HALLSARE NEWLY BUILT OR RECENTLY RENOVATED. MORE THAN 1,000 STUDENTS CALL OUR RESIDENCE HALLS HOME. 2525228 0 2250266 BISHOP DUNN MEMORIAL SCHOOL - ELEMENTARY SCHOOL OPERATIONS, AN ADJUNCT FACILITY ON THE MOUNT SAINT MARY COLLEGE CAMPUS, WHERE THE MOUNT'S EDUCATION STUDENTS ASSIST AND OBSERVE IN TEACHING, AND MAY COMPLETE FIELD WORK. THIS ON-CAMPUS SCHOOL IS A COMBINED ELEMENTARY SCHOOL AND MIDDLE SCHOOL FOR PRE-K THROUGH GRADE 8 PUPILS. IT OFFERS A VARIETY OF PROGRAMS, INCLUDING ENRICHMENT FOR HONORS PUPILS, SPECIAL EDUCATION, VIRTUAL FIELD TRIPS AND OTHER CREATIVE USES OF TECHNOLOGY. INDIVIDUALLY GIFTED PROGRAMS, ON BOTH PRIMARY AND MIDDLE LEVELS, ARE CONDUCTED HERE, AS WELL AS CLASSES FOR CHILDREN WITH LEARNING DISABILITIES. 369818 0 1156271 OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. 369818 1156271 63530506 true true false true false false false false true true true false false true true true false true false true false false true true false false false true true true false false false false false false false false true false true true false false false false false false false true 3196 0 true 1165 true false false false false false true true false false false false X 23 22 false false false false false false false true true false false true true true true true true true true false X N Mazza 8455693209 330 Powell Avenue Newburgh NY 125503412 X Albert J Gruner DMD Chairman 20.00 X X 0 0 0 Charles Frank Vice Chair 6.00 X X 0 0 0 Ita M Rahilly CPA Board Member 5.00 X 0 0 0 Jonathan Gatsik Board Member 3.00 X 0 0 0 Sister Lucy Povilonis OP Board Member 1.00 X 0 0 0 Sr Lorelle Elcock OP Board Member 1.00 X 0 0 0 Kekuut Hoomkwap Board Member 1.00 X 0 0 0 Robert Murphy Board Member 15.00 X 0 0 0 Thomas C Donahoe Board Member 2.00 X 0 0 0 Sister Margaret Anderson OP Board Member 2.00 X 0 0 0 Sister Madeleine Tacy OP Board Member 1.50 X 0 0 0 Christopher J Gawley Esq Board Member 7.50 X 0 0 0 Harrison H Buxton III Board Member 6.00 X 0 0 0 Anna Halpine Board Member 2.00 X 0 0 0 Frank A Marchetti Board Member 1.00 X 0 0 0 David W Melby Board Member 2.00 X 0 0 0 Duncan Maxwell Anderson Board Member 3.00 X 0 0 0 Robert T Armistead PE Board Member 2.00 X 0 0 0 Joan Crowe Board Member 3.50 X 0 0 0 Jeanne Hosinski Board Member 2.00 X 0 0 0 Sister Maureen Sullivan Board Member 5.00 X 0 0 0 Very Reverend John A Langlois OP Board Member 0.05 X 0 0 0 Christopher Wilson Board Member 2.00 X 0 0 0 Elizabeth Ailes Board Member (Partial Year) 1.50 X 0 0 0 Wendy E Long Esq Board Member (Partial Year) 2.25 X 0 0 0 Sister Ann P Stankiewicz OP Board Member (Partial Year) 2.00 X 0 0 0 Greg M Cooper CPA CSEP Board Member (Partial Year) 2.50 X 0 0 0 Joseph A O'Loughlin Board Member (Partial Year) 1.00 X 0 0 0 James Raimo Vice President for Facilities and Operations 35.00 X 153045 0 31912 Cathleen Kenny Vice President for Finance and Administration, Board Secretary 35.00 X 193682 0 35709 Ann Carson Daly President 35.00 X 142000 0 17842 Joseph Valenti Vice President for College Advancement 35.00 X 152785 0 29730 Nancy Mazza Interim Chief Financial Officer 35.00 X 95260 0 16582 Durward Entrekin Faculty 35.00 X 114615 0 30657 Andrew Weiss Business Division Chair 35.00 X 134248 0 23294 James Cotter Faculty 35.00 X 121247 0 18791 Steven Sweitzer Faculty 35.00 X 113474 0 8712 Lynn Maelia Faculty 35.00 X 127818 0 14417 1348174 0 227646 24 false true true LCS FACILITY MAINTENANCE INC 36 COTTAGE STREET POUGHKEEPSIE NY 12601 FACILITY SERVICES 413757 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 ENROLLMENT MANAGEMENT 378654 L & M COMPANY 140 HIGHLAND STREET PORT CHESTER NY 10940 CONTRACTOR 214652 ROSE PRESS INC 8 North 14th Avenue Mount Vernon NY 10550 PRINTING SERVICES 206117 ARMISTEAD MECHANICAL SERVICES 24 STILL HOLLOW ROAD NEWBURGH NY 12550 SYSTEM MECHANICAL SERVICE 118511 5 0 0 181181 0 787232 1054270 146543 2022683 Tuition and Fee Income 611310 52972224 52972224 0 0 Dormitories, Food, Service, Campus Store 611310 12850176 12850176 0 0 Elementary School - Pre K to Grade 8 611110 2250266 2250266 0 0 Community Education 611310 534199 534199 0 0 Other Sources 611310 622072 622072 0 0 0 0 0 0 69228937 717570 0 717570 0 0 0 0 0 0 0 0 33832 0 44213 0 -10381 0 -10381 0 0 -10381 12508875 0 11641078 0 867797 0 867797 0 0 867797 86938 181181 92037 -5099 0 -5099 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72821507 69228937 0 1569887 0 0 16257412 16257412 0 0 0 0 968315 0 815531 152784 26894 26894 0 0 21107542 17840593 3041011 225938 1450357 1169531 256076 24750 4135855 3335048 730230 70577 1765659 1423782 311746 30131 0 0 0 0 153145 0 153145 0 63200 0 63200 0 0 0 0 0 23469 23469 127613 0 127613 0 5352083 4829022 520961 2100 643339 445471 158553 39315 1248775 662450 555817 30508 729838 364917 364921 0 0 0 0 0 2368446 2191085 177361 0 524548 432679 68737 23132 0 0 0 0 128605 120961 5845 1799 2378633 2297175 81458 0 0 0 0 0 6454553 6135209 319344 0 564944 382460 182484 0 Elementary School 2195317 2195317 0 0 Maintenance & Repairs 723441 698489 24952 0 Tuition Waivers 353232 353232 0 0 Small Equipment 507658 105647 402011 0 2820147 2263132 557015 0 73073020 63530506 8918011 624503 0 0 0 0 0 0 9716123 11431209 7413405 5825922 1232771 1210379 0 0 662944 726916 0 0 920097 1472952 173655066 54960980 123771427 118694086 41447686 40447166 24681857 26002085 0 0 0 2946960 2802168 212793270 208612883 2194483 2768006 0 0 1199252 1068987 63649641 61609215 0 0 0 771807 0 0 0 4374123 4671577 72189306 70117785 X 126488634 125830611 9367332 7853329 4747998 4811158 0 0 0 0 0 0 140603964 138495098 212793270 208612883 X -251513 -1551707 0 0 0 -305646 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 0 0 false Schedule C, Part II-B, Line 1 DESCRIPTION OF THE ACTIVITIES REPORTED ON LINES 1A THROUGH 1I THE COLLEGE DOES NOT UNDERTAKE ANY DIRECT LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER OF SEVERAL HIGHER EDUCATION ASSOCIATIONS SUCH AS NACUBO, NATIONAL ASSOCIATION OF COLLEGE UNIVERSITY BUSINESS OFFICERS, AND CICU, COMMISSION ON INDEPENDENT COLLEGES AND UNIVERSITIES, TO WHICH IT PAYS DUES. A PORTION OF THESE DUES ARE USED FOR LOBBYING PURPOSES. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY See Next Page 4848023 63160 145951 199113 0 0 4858021 4662391 222334 178733 215435 0 0 4848023 4771119 83167 69550 261445 0 0 4662391 4691673 81157 281732 283443 0 0 4771119 4452398 223584 114685 98994 0 0 4691673 0.0 0.99 0.01 false false 7594493 7594493 158110819 45417535 112693284 7905584 9543445 -1637861 44170 0 44170 118694086 Limited Partnerships - International Investments 13060900 F Hedge Funds 3933616 F Domestic Equity Fund 4575222 F International Equity Fund 4432347 F 26002085 Derivative Liability 3786865 Government Grants Refundable 726712 Conditional asset retirement obligation 158000 4671577 X 54842992 -1551707 -169396 -1721103 56564095 16257412 16257412 72821507 56951858 136250 136250 56815608 16257412 16257412 73073020 Schedule D, Part V, Line 4 Intended uses of endowment funds The portion of the permanent endowment funds that is required to be retained by explicit donor restriction is as follows for FISCAL YEAR 2015: - restricted for scholarship support $2,845,029 - restricted for institutional support $1,966,129 The portion of the temporarily restricted endowment funds subject to a time restriction is as follows for FISCAL YEAR 2015: - restricted for institutional support $46,863 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The College is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. U.S. GAAP prescribes recognition thresholds and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Tax benefits will be recognized only if the tax position is considered more-likely-than-not to be sustained in a tax examination, with a tax examination being presumed to occur. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. Management believes the College does not have any tax benefits or liabilities to be recognized at June 30, 2015 and 2014. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Unrealized loss in interest rate swap - -305646 Fundraising Expenses - 92037 Rental Expenses - 44213 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Scholarships - 16257412 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Fundraising Expenses - 92037 Rental Expense - 44213 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Scholarships - 16257412 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The college publishes an annual notice of its non discriminatory policy in a local newspaper during the academic year. The notice complies with IRS Guidelines. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The college receives federal Pell, Workstudy, SEOG, NYS TAP and other state scholarship funds. Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD PROGRAM 424937 Central America and the Caribbean 0 0 Investments 13060900 Central America and the Caribbean 0 0 Program Services STUDY ABROAD PROGRAM 35528 East Asia and the Pacific 0 0 Program Services Study Abroad Program 15565 0 0 0 0 0 0 13536930 0 13536930 true false true true false false X X X X X X true LESTER INC 18 BUSINESS PARK DRIVE BRANDFORD CT 06405 FUNDRAISING false 44609 23469 21140 44609 23469 21140 AZ Golf Tournament 111031 76646 34385 1192 26432 0 0 8243 Gala 124520 91807 32713 0 0 7347 21688 0 5590 1 32568 12728 19840 0 0 13150 612 1000 6783 268119 181181 86938 0 1192 46929 22300 1000 20616 92037 -5099 Schedule G, Part I, Line 2a Fundraising Agreement THE ACCEPTED PROPOSAL FOR FUNDRAISING ACTIVITIES PROVIDES THAT THE COLLEGE IS INVOICED ON A WEEKLY BASIS, AND THAT ALL INVOICES REFLECT THE NUMBER OF DIRECT MAIL PIECES SENT. THE AGREEMENT PROVIDES THAT THE FEES FOR SET-UP, PRINTING AND PROCUREMENT OF STATIONERY AND FORMS APPEAR IN THE FIRST INVOICE. THE SET UP FEES ARE A FIXED AMOUNT. CHARGES FOR TELEPHONE CALLING, TRAINING, AND GENERAL SERVICES ARE PRICED AT AN HOURLY RATE AND DIRECT MAIL CHARGES ARE PRICED AT A PER ITEM BASIS. true SCHOLARSHIPS 1624 16257412 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds The organization has rules in place to ensure that scholarship aid provided to students is used for authorized purposes. Additional detail is available upon request. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The organization has rules in place to ensure that scholarship aid provided to students is used for authorized purposes. Additional detail is available upon request. X X true true X X false false false false false false false false false James Raimo Vice President for Facilities and Operations 152013 0 0 0 1032 0 15271 0 16641 0 184957 0 0 0 Cathleen Kenny Vice President for Finance and Administration, Board Secretary 193130 0 0 0 552 0 16662 0 19047 0 229391 0 0 0 Ann Carson Daly President 141340 0 0 0 660 0 11880 0 5962 0 159842 0 0 0 Joseph Valenti Vice President for College Advancement 152233 0 0 0 552 0 13089 0 16641 0 182515 0 0 0 Andrew Weiss Business Division Chair 132664 0 0 0 1584 0 11544 0 11750 0 157542 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use College provides housing for the President as part of her employment contract. Pursuant to IRC Sec. 119, Housing provided to the President is nontaxable. Schedule J, Part I, Line 1a Health or social club dues or initiation fees The College provides the President with a club membership as part of her employment contract. The club membership is used solely for business purposes and as such is nontaxable. A Orange County Funding Corporation 273179651 2012-12-21 25465000 refunding of 2005 bond issue false false false B Orange County Funding Corporation 273179651 684594AT1 2012-12-21 40087992 renovation of Dominican Center and refund 2003 bond issue false false false A 745000 0 25465000 0 0 0 291645 0 0 1570425 23602930 0 2013 true false true true B 1115000 0 40087992 0 0 0 531002 0 0 20503632 17205266 1848092 2013 false true true true A false false false false 0.0 0.0 false false false B false false true true false 0.02 0.02 false false false A false true true true TD Bank 30.0 false false false false false B false true false false false false false A false B false Schedule K, Part I Orange County Funding Corporation: CUSIP- 684594AT1 Proceeds of $17,205,265 was used to advance refund series 2003 Bond, and non-refunding proceeds of $22,306,668 used for the renovation of the Dominican Center, and pay off the original loan for the purchase of the Dominican Center. Schedule K, Part I Orange County Funding Corporation Advance refund 2005 Bond that was reoffered in 2008 by the Dormitory Authority of the State of New York Schedule K, Part I POST-ISSUANCE COMPLIANCE POLICIES & PROCEDURES Applicable for Schedule K, Part III, line 9; Part IV, line 7; Part V: The college does not have a written Post-Issuance Tax-Exempt Bond Compliance Policy. The Vice President for Finance and Administration has primary responsibility for monitoring and ensuring post issuance compliance with tax-exempt bond regulations. This includes, but is not limited to analyzing and reviewing activities that involve private business use, keeping current with tax-exempt bond developments and consulting with college bond counsel and other experts on an as needed basis to ensure continued compliance with federal regulations. LYNN FRANK FAMILY MEMBER OF CHARLES FRANK, BOARD MEMBER 26894 COMPENSATION FOR FULL TIME EMPLOYMENT AS ADMINISTRATIVE ASSISTANT. false X 1 3500 Cost X 4 107986 Market value X Furniture for office in Finance and Purchasing 1 22208 Market value X Topsoil for Mount Saint Mary College Campus Grounds 1 124 Cost X Fine China for President's Home 1 1100 Cost X Parlor Grand Piano 1 8350 Market value X Invitations for Gala 2014, Golf Tournament 2 2810 Cost X Raffle Prize for Golf Tournament 1 25 Opinions of experts X Tents for Golf Tournament 1 350 Cost X Glass bowl for Golf Tournament Raffle 1 90 Cost 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Other: number of contributions Art - Works of art: number of contributions Other: number of contributions Other: number of contributions Other: number of contributions Other: number of contributions Other: number of contributions Other: number of contributions Other: number of contributions Securities - Publicly traded: NUMBER OF CONTRIBUTIONS Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I, Line 1 Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions CoreFormPartIII_PartIIILine4d Description of other program services (Expenses $ 369,818 including grants of $ 0)(Revenue $ 1,156,271) OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. Form 990, Part VI, Line 1a Delegate broad authority to a committee Article VIII: Committees of the Board of Trustees: VIII-2-The Executive Committee shall be comprised of all standing committee Chairs. At his discretion the Chair may appoint an additional member of the board to the Executive Committee. Such Executive Committee shall have and exercise, in the intervals between meetings of the full Board, all powers and authority vested in the full Board under Article 5, Section 226 of the Education Law, except those powers specifically withheld by said Section 226, sub-section 2. Form 990, Part VI, Line 11b Review of form 990 by governing body The completed Form 990 is distributed to the Board of Trustees in advance of filing for their review. Form 990, Part VI, Line 12c Conflict of interest policy The Vice President for Finance and Administration shares completed conflict of interest questionnaires with all Trustees in December's Board Meeting. Conflicts are reviewed and resolved by the members of the Executive Committee. Trustees, officers, and all with purchasing power who have declared or been found to have a conflict or potential conflict of interest shall refrain from voting on proposed transactions. Such persons may participate in deliberations concerning any proposed transaction only with the consent of no less than two-thirds of those present at any meeting where such matters are being discussed. Form 990, Part VI, Line 15a Process to establish compensation of top management official The President's compensation is set by the Board of Trustees and based on a review of published data that compares salaries of officer at similar sized institutions. Her salary is reviewed and adjusted in connection with an annual budget approval process. College policy calls for an annual review of salaries of officers and key employees by the Executive Committee of the Board of Trustees. Their review is documented as part of the annual budget approval process. Form 990, Part VI, Line 15b Process to establish compensation of other employees The compensation of officers and key employees is set by the Board of Trustees and based on a review of published data that compares salaries of officer at similar sized institutions. College policy calls for an annual review of salaries of officers and key employees by the Executive Committee of the Board of Trustees. Their review is documented as part of the annual budget approval process. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflict of interest policy, and its financial statements available to the public upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Unrealized (loss) on interest rate swap - -305646; Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I Number of contributions or items contributed number of contributions Schedule M, Part I, Line 9 Number of contributions or items contributed NUMBER OF CONTRIBUTIONS