2016-05-05T13:55:35-07:00 2015-06-30 990 2014-07-01 161532850 EXCELSIOR COLLEGE EXCE 5184648500 7 Columbia Circle Albany NY 122035159 John Pontius VP of Finance and Administration 5186088384 2016-05-05 2014 2016-08-17 19:52:53Z John Ebersole 7 Columbia Circle Albany NY 122035159 102072051 0 X www.excelsior.edu X 1998 NY Excelsior College provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The College meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 19 19 1764 21 0 0 1084565 1472493 87137761 95453508 1654350 362667 84876 191531 89961552 97480199 589358 616045 0 0 59312953 67612132 53404 80430 1131110 27134240 26578859 87089955 94887466 2871597 2592733 58988876 63085662 25618198 27410351 33370678 35675311 Excelsior College provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The College meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 0 0 38585971 194998 70261665 Undergrad and Graduate Tuition (credit and non-credit bearing). During this period, 155,720 undergraduate hours of course instruction, and 21,486 hours of graduate level course instruction were delivered. 12457852 421047 12266718 Nursing performance and other administered examinations. During this period, the College administered 21,888 credit bearing examinations to students enrolled in its various programs including Nursing and administered 1,740 performance examinations to students enrolled in its Nursing programs. 15381120 0 11539171 Enrollment in higher education. During this period, 17,906 new students enrolled in the College while there were 38,525 actively enrolled students as of 6/30/15. 4,874 students completed degree requirements between 7/1/14 and 6/30/15. 3051684 0 1385954 Other Program Services consists of: 1). The "Presidents' Forum" which provides higher education institutions the opportunity to exchange knowledge and perceptions of current models and tools for successful operation in an online environment; 2). The College's "Educators Serving Educators" program which works with higher education institutions to develop and deliver online programs and courses specializing in assisting institutions that serve individuals traditionally underrepresented in higher education; 3). The "National Cybersecurity Institute at Excelsior College" is an academic research center dedicated to assisting government, industry, military, and academic sectors meet the challenges in cybersecurity policy, technology, and education; 4). The Excelsior College Press which publishes contemporary nonfiction in areas, such as nursing, health care, business & technology, cybersecurity, alternative education, and military interest, that support the academic interests of the College; 5). The College collects interest on student loans. 3051684 0 1385954 69476627 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 201 0 1 1764 1 0 0 0 0 0 1 1 0 0 0 0 X 19 19 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Hillary Harding 5186088382 7 Columbia Circle Albany NY 122035159 Polly Baca Board Member 1.2 0 X 0 0 0 Helen Benjamin Board Member 1.2 0 X 0 0 0 Lyvier Conss Board Member 1.2 0 X 0 0 0 Don Dea Board Member 1.2 0 X 0 0 0 William G Harris Board Member 1.2 0 X 0 0 0 Debbie Hatmaker Board Member 1.2 0 X 0 0 0 Garry Jaunal Board Member 1.2 0 X 0 0 0 Jack M Lafield Board Member 1.2 0 X 0 0 0 Michael Loughran Board Member 1.2 0 X 0 0 0 KH Maman Board Member 1.2 0 X 0 0 0 Frank Mayadas Board Member 1.2 0 X 0 0 0 Jerry L Neff Chairman of the Board 1.4 0 X X 0 0 0 Mary O'Connor Vice Chairman of the Board 1.4 0 X X 0 0 0 David Oliker Treasurer of the Board 1.4 0 X X 0 0 0 Sharon I Richie Board Member 1.2 0 X 0 0 0 William Senn Board Member (Ex-Officio) 1.2 0 X 0 0 0 Harry L Staley Board Member 1.2 0 X 0 0 0 Pamela Tate Board Member 1.2 0 X 0 0 0 Andre Vacroux Board Member 1.2 0 X 0 0 0 Carol A Vallone Board Member 1.2 0 X 0 0 0 Charles F Wald Board Member 1.2 0 X 0 0 0 John Ebersole President and Chief Executive Officer 37.5 0 X 570980 0 116325 Mary Beth Hanner Provost and Chief Academic Officer 37.5 0 X 289676 0 39135 Wayne Brown VP for IT & Chief Information Officer 37.5 0 X 241057 0 24109 Joseph Porter VP for Legal & Governmental Affairs, General Counsel, Secretary to the BOT 37.5 0 X 234214 0 21817 John M Pontius VP for Finance and Administration 37.5 0 X 233537 0 25623 Edmund McTernan VP for Human Resources 37.5 0 X 233336 0 51327 Cathy Kushner VP for Institutional Advancement 37.5 0 X 213114 0 36568 Craig Maslowsky VP for Enrolmment Management 37.5 0 X 208972 0 42171 Susan O'Hern VP for Strategy & Institutional Effectiveness 37.5 0 X 202432 0 41484 Christa Montagnino VP for Extended Education 37.5 0 X 190391 0 22918 James Lettko VP for Human Resources 37.5 0 X 71831 0 0 James N Baldwin VP and Chief of Staff 37.5 0 X 58968 0 4615 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 37.5 0 X 186932 0 33544 Murray Block Interim Dean, School of B&T / Director of Leadership Academy 37.5 0 X 172114 0 17186 George Timmons Associate Provost of COELAS / Co-dean, School of Liberal Arts 37.5 0 X 166696 0 19872 Mary Lee Pollard Dean, School of Nursing 37.5 0 X 162654 0 18406 Robert Waters Dean, School of Public Service 37.5 0 X 196369 0 7387 Jane LeClair Chief Operating Officer of National Cybersecurity Institute 37.5 0 X 195191 0 27001 Stephen G Ernst VP for Strategy/VP for Innovation & Extended Education 37.5 0 X 162757 0 17188 Deborah L Sopczyk Dean, School of Health Sciences 37.5 0 X 160942 0 37014 Susan A Dewan AVP for Military Education 37.5 0 X 159487 0 22379 4311650 0 626069 43 0 1 0 Milton S Eisenhower Library John Hopkins University Baltimore MD 21218 Library Services 2020974 Blackboard Inc PO Box 200154 Pittsburgh PA 152510154 Learning Management System 1358970 TATA Interactive Systems Leela Business Park Andheri Kurla Road Mumbai IN 400 059 Course Development Services 1309392 NCS Pearson Inc 13036 Collection Center Drive Chicago IL 60693 Examination Administrative Services 1252946 XACT Telesolutions Inc 255 Primera Boulevard Lake Mary FL 32746 Call Center Services 1244363 48 0 0 78855 0 764324 629314 4768 1472493 Graduate, UG, & Non-Credit Bearing Tuition 611310 70261665 70261665 0 0 Examination Fees 611310 12266718 12266718 0 0 Enrollment Related Fees 611310 11539171 11539171 0 0 Educators Serving Educators Fees 611310 1084718 1084718 0 0 Presidents' Forum Fees 611310 262565 262565 0 0 38671 38671 0 0 95453508 396601 0 0 396601 0 0 0 0 0 0 0 0 374105 0 195592 0 178513 0 178513 0 0 178513 4348138 0 3983025 399047 365113 -399047 -33934 0 0 -33934 5320 78855 14188 -8868 0 -8868 0 0 0 0 0 0 0 0 0 0 0 0 Merchandise 900099 8866 8866 0 0 Miscellaneous 900099 7665 7665 0 0 Bad Check Charges 900099 5355 5355 0 0 0 0 0 0 21886 97480199 95475394 0 532312 0 0 616045 616045 0 0 0 0 4178325 1064275 2854247 259803 0 0 0 0 50844962 42542872 7727704 574386 3158073 2795913 345061 17099 5245199 4363663 837825 43711 4185573 3502142 636147 47284 0 0 0 0 400731 0 400731 0 123574 0 123574 0 257173 0 257173 0 80430 80430 87610 0 87610 0 9110779 7154937 1943059 12783 3379009 0 3378388 621 2494721 1304052 1140998 49671 2036131 21758 2014373 0 633356 633356 0 0 1324111 405923 918188 0 1877074 1460215 387683 29176 0 0 0 0 640307 268034 357546 14727 1018 0 1018 0 0 0 0 0 2053467 1332069 721398 0 62168 1755 60413 0 Credit Card Fees 899929 899929 0 0 College Wide Bad Debt Expense 1063155 1063155 0 0 Misc. Expense 134546 46534 86593 1419 0 0 0 0 94887466 69476627 24279729 1131110 -528878 -1110395 14175991 14760602 46867 177744 4760482 4110059 0 0 0 13297 13407 106929 107293 1741499 2012662 30554559 14472510 15173523 16082049 22484814 22647161 0 0 879597 872592 0 0 134755 3412488 58988876 63085662 9800105 10953556 713811 707618 8191293 9064905 51204 0 0 0 0 0 6160938 5989758 0 0 700847 694514 25618198 27410351 X 31714587 33829819 686921 702971 969170 1142521 33370678 35675311 58988876 63085662 2592733 -288100 0 0 0 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 359163 0 1 102670 461833 0 Schedule C, Part II-B, Line 1 The majority of time/cost is spent in direct contact with various state legislators and other state government officials, in coordination with the College's registered lobbyist consultants, defending the College's Associate Degree Nursing program. The College works to have state statutes and/or regulations changed or introduced to ensure that the College's Associate Degree Nursing graduates are eligible for Registered Nurse licensure in those states. A significant portion of cost/time is spent preparing materials to aid College Officials, in coordination with the College's registered lobbyist consultants, in educating government officials on the fact that Excelsior College graduates are as prepared for licensure as nursing graduates from more traditional programs. Time is also spent drafting proposed legislation that would ensure Excelsior College nursing graduates would receive licensure in various states. 0 64800 0 0 X 0 1131780 181683 25388 28707 -341 5240 1305245 867909 159786 134631 23682 2703 4161 1131780 656693 166939 67248 18859 886 3226 867909 568648 106517 3538 20681 -1878 3207 656693 453217 53899 103243 20690 21021 0 568648 0 0.85 0.15 0 0 0 1913985 1913985 0 13079542 3311306 9768236 0 788312 175288 613024 0 14167593 10672020 3495573 0 605127 313896 291231 16082049 Deposits on Property 3285742 Interest Receivable 34180 Debt Acquisition cost, net 53302 Benefit Plan Funds Held In Trust - FSA 39264 3412488 0 Liabilities to beneficiaries under split interest agreements 10598 Deferred Rent 683916 694514 X 97840278 -288100 39352 0 0 -248748 98089026 0 -608827 -608827 97480199 95535645 39352 0 0 0 39352 95496293 0 -608827 -608827 94887466 Schedule D, Part III, Line 4 Consists of various paintings that have been donated to and/or purchased by the college and have been recorded at their appraised fair market value at the time of donation, or cost at time of purchase. This collection aids in fostering a sense of community and appreciation of the arts for students, faculty, and support staff of the college. Schedule D, Part V, Line 1e In accordance with the State of New York Prudent Management of Institutional Funds Act (NYPMIFA), the ($341) listed as other expenditures represents the College's transfer of funds related to the depreciation of endowment assets from Unrestricted Net Assets to Temporarily Restricted Net Assets to maintain the corpus of underwater endowment funds. Schedule D, Part V, Line 4 The intended use of the College's endowment is primarily for scholarships which are given to students to defray the cost of degree completion. Schedule D, Part X, Line 2 The College is classified for tax purposes as an organization under Section 501(c)(3) of the Internal Revenue Code, and except for unrelated business income, if any, is exempt from federal income taxes under Section 501(a) of the Code. Therefore, no provision for income taxes is made in the accompanying financial statements. The College follows the FASB guidance regarding accounting for uncertain tax positions. The College believes that it has no uncertain tax positions taken or expected to be taken that could result in an unrecognized tax benefit liability. The College has no federal or state informational tax returns that are currently under examination by the Internal Revenue Service ("IRS") or state authorities. Schedule D, Part XI, Line 4b Includes fundraising expenses ($14,188), rental expenses ($195,592) and loss on disposal of assets ($399,047). Schedule D, Part XII, Line 4b Includes fundraising expenses, rental expenses and loss on disposal of assets. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 Schedule E, Part I, Line 3 The organization meets the criteria established in section 4 03-2 of revenue procedures 75-50. Schedule E, Part I, Line 6 The college receives government assistance in the form of: Federal Direct Loans, Pell grants, FSEOG grants, NYS TAP grants, NYS APTS grants, HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The College's participation in the HRSA Nursing Student Loan Program - Baccalaureate Level was revoked on 10/30/13, due to loan default rates above the acceptable maximum (5%). This program is calculated on dollars in default, rather than borrowers in default as is the case in most student loan programs. At the time the program was revoked 5 borrowers were in default with a total loan balance of $6,844 (11.31%). Europe (including Iceland and Greenland) Program Services To visit partners, develop new partners, attend conferences, and help with planning involving Open University Network of America. 30184 Middle East and North Africa Program Services To visit international and Israel Study Abroad partners. 65387 East Asia and the Pacific Program Services To perform consulting services for the study abroad program and to attend the ICDE conference. 16333 0 0 111904 0 0 0 0 0 0 Schedule F, Part I, Line 3 The accrual basis of accounting is used to account for all foreign expenditures. X X X X X X X 1 Ruffalo Noel Levitz LLC 65 Kirkwood North Road SW Cedar Rapids IA 52404 Phone Solicitations 0 55454 56751 -1297 The Stelter Company 10435 New York Avenue Des Moines IA 50322 Planned Giving Newsletter Program and Website 0 20000 6571 13429 James Langley 10958 Bloomingdale Drive Rockville MD 20852 Campaign Consulting 0 0 5000 -5000 Suzanne Roberson 149 Manning Blvd Albany NY 12203 Prospect Research 0 0 8120 -8120 75454 76442 -988 NY Partners in Lifelong Learning Scholarship Fundraising Event 84175 78855 5320 0 133 1300 8448 0 4307 0 0 84175 78855 5320 0 133 1300 8448 0 4307 14188 -8868 1 Scholarships 1233 616045 0 N/A N/A Schedule I, Part I, Line 2 The College provides individual scholarship assistance to enrolled students in order to defray the cost of tuition and fees. This assistance is provided through direct credit to the student's account with the college, ensuring funds are utilized for their intended purpose. Depending on the source of funds, there may be donor stipulations which students may need to adhere to in order to maintain eligibility of funds. In the event of such, ongoing monitoring is performed by the College's Financial Aid department. X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 John Ebersole President and Chief Executive Officer 413763 0 42500 0 114717 0 99462 0 18099 0 688541 0 0 0 Mary Beth Hanner Provost and Chief Academic Officer 270652 0 0 0 19024 0 26000 0 13897 0 329573 0 0 0 Wayne Brown VP for IT & Chief Information Officer 236256 0 4500 0 301 0 21890 0 2356 0 265303 0 0 0 Joseph Porter VP for Legal & Governmental Affairs, General Counsel, Secretary to the BOT 215198 0 18500 0 516 0 21388 0 688 0 256290 0 0 0 John M Pontius VP for Finance and Administration 223745 0 9000 0 792 0 22646 0 3373 0 259556 0 0 0 Edmund McTernan VP for Human Resources 134904 0 0 0 98432 0 16018 0 35527 0 284881 0 0 0 Cathy Kushner VP Institutional Advancement 209822 0 0 0 3292 0 21478 0 15487 0 250079 0 0 0 Craig Maslowsky VP for Enrolmment Management 204663 0 4200 0 108 0 21101 0 21124 0 251196 0 0 0 Susan O'Hern VP for Strategy & Institutional Effectiveness 195406 0 6500 0 526 0 20181 0 21441 0 244054 0 0 0 Christa Montagnino VP for Extended Education 167747 0 12500 0 10144 0 1615 0 21363 0 213369 0 0 0 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 177622 0 5000 0 4310 0 17190 0 19087 0 223209 0 0 0 Murray Block Interim Dean, School of B&T / Director of Leadership Academy 171864 0 250 0 0 0 17186 0 0 0 189300 0 0 0 George Timmons Associate Provost of COELAS / Co-dean, School of Liberal Arts 160716 0 5800 0 180 0 16351 0 3611 0 186658 0 0 0 Mary Lee Pollard Dean, School of Nursing 161578 0 800 0 276 0 16358 0 2186 0 181198 0 0 0 Robert Waters Dean, School of Public Service 161189 0 15800 0 19381 0 0 0 7477 0 203847 0 0 0 Jane LeClair Chief Operating Officer of NCI 190904 0 1800 0 2487 0 19258 0 8139 0 222588 0 0 0 Stephen G Ernst VP for Strategy/VP for Innovation & Extended Education 80872 0 0 0 81885 0 5158 0 12140 0 180055 0 0 0 Deborah L Sopczyk Dean, School of Health Sciences 159350 0 800 0 792 0 16238 0 21172 0 198352 0 0 0 Susan A Dewan AVP for Military Education 158411 0 800 0 276 0 14156 0 8361 0 182004 0 0 0 Schedule J, Part I, Line 1a In calendar year 2014, the College grossed up taxable wage payments to the President to reimburse the President for taxes incurred related to life insurance benefits. Additionally, in 2014 the college paid social club dues on behalf of the President for business use relating to College matters only, and as such, were not treated as taxable income to him. All personal use of the club was reimbursed to the College. A monthly housing allowance is provided to the President and is included in his taxable wages. The College reimburses a portion of health club dues of its employees as part of the College's wellness initiative policy. This benefit is available to all college employees, and is included in the taxable income of employees who use this benefit, including officers. Schedule J, Part I, Line 4 Edmund McTernan - Severance payment of $85,000, Stephen Ernst - Severance payment of $55,877, John Ebersole - 457(f) Supplemental non-qualified retirement plan contribution of $25,000 Miguel Corona Husband of Officer Christa Montagnino 17610 Payments for conducting instruction as an adjunct faculty 0 Donna Jones Wife of Key Employee Patrick Jones 15482 Payments for Military Outreach Counseling Services 0 Form 990, Part VI, Section A, Line 4 Since the prior 990 was filed, significant changes have been made to the College Bylaws in three areas:1. Board Members can now fully participate in meetings via video conference and adoption of resolutions can now be completed via email. 2. Changes were made to the Audit Committee Function.a. No Audit Committee Member can simultaneously serve on the investment committee. b. Audit Committee Member responsibilities have been updated to more clearly explain that the audit committee is responsible for oversight of the College's internal controls. c. The Audit Committee is now solely responsible for selecting and retaining the College's independent auditors. Previously the entire Board voted on the auditor selection and/or retention. 3. The three year Board experience requirement before serving as chair, vice chair or treasurer, has been removed. Form 990, Part VI, Section B, Line 11b The Form 990 was prepared by the accounting services department at the College. The information within the return was obtained through input from several Officers of the College. Following internal preparation of the return, it was forwarded to the College's independent auditors to seek their input before forwarding to the Audit Committee of the Board of Trustees. The Audit Committee reviewed the final return in depth via teleconference with the Officers of the College and the accounting staff. Management at the College guided the Audit Committee through various schedules included in the filing noting the purpose of the schedule and identifying the origin and sources of the content contained within. All questions posed by the Committee were answered by the Management of the College as documented in the minutes to the meeting. The final return was made available for inspection and review to all Board Members before final filing with the IRS. Form 990, Part VI, Section B, Line 12c The College has had a written conflict of interest policy since June, 1998. This policy, as amended in 2014 consistent with the NYS Nonprofit Revitalization Act of 2013, is distributed annually to all Officers, Trustees, and key employees each October. Under the policy, all officers, trustees and key employees are required to complete an annual disclosure statement indicating conflicts of interest and any direct or indirect professional and/or business relationships with vendors with whom the College has a professional or business arrangement. Annually, the Audit Committee of the Board meets with General Counsel and Secretary to the Board to review all disclosures and to determine the existence and severity of any conflicts. If conflicts exist, the Chair of the Audit Committee informs the full Board for discussion/resolution. Should a conflict exist at the Board level, the affected member is recused from any discussion or vote related to the conflict of interest. Conflicts at levels below the Board are disclosed to the CEO, the VP of HR, and General Counsel to determine the impact of the conflict on the employees' ability to function in the affected role and take steps to resolve the conflict. Form 990, Part VI, Section B, Line 14 Financial records are retained in accordance with the College's standard record retention policy. In addition, grant awards, certain mortgage and contractual arrangement require additional retention timeframes. Other departments in the College such as the Registrar and Financial Aid offices retain student records as required under federal regulations and agencies guidelines. Form 990, Part VI, Section B, Line 15 Per the College bylaws, the Board is required to from time to time determine the compensation of the President, and approve the compensation of all other officers of the College, which should in all cases be reasonable and commensurate with the services performed by them. In 2010, a comprehensive independent study of the President's compensation was conducted by an external consultant. This study, commissioned under the direction of the Board of Trustees, looked at comparative data from a competitive pool determined by the external consultant. This study was the basis for the employment contract with the College President, which was approved by the Board of Trustees. This contract is subject to renewal, extension, or termination every four years by the Board of Trustees. Additionally, the compensation of the President is reviewed annually and any changes are approved by the Executive Committee of the Board of Trustees. Each year the President and the Board agree to annual goals and the President provides monthly reports on the progress toward these goals. His achievements are the basis for an annual performance review conducted by the Executive Committee of the Board. All Board discussions are documented in the Board of Trustee meeting minutes. The President's compensation is, in part, derived from the terms of his contract. The 2014 Executive Compensation study completed by a consultant, discussed in detail below, looked at other college presidents in our list of 22 peer institutions as a comparison. The consultant used the College's most recent year IRS Form 990 and then 'aged' the amounts using industry accepted standards. Any increase of compensation for the President is reviewed by an independent consultant to ensure the resulting compensation is reasonable and compliant with Intermediate Sanctions guidelines according to Treasury Final Regulations Section 53.4958-1. The Office of Human Resources establishes compensation within various grade levels at the College based on several factors such as the current local job market and hiring rate in our area, the demographics of the region including the degree of difficulty and competition in acquiring the particular talent. In addition, a compensation study was performed in 2014 by an external consultant that compared duties, responsibilities, and compensation for all job titles of the college. The study gathered data at the national level as well as industry-specific data and job market information for our region of the country. Salaries within the organization were comparable against this data. In 2014, at the direction of the Board of Trustees, the Office of Human Resources completed an executive compensation survey through a consultant. The study assessed eleven positions and made comparisons to comparable staff positions at 22 similarly situated institutions. The study had two objectives: 1.Determine if current pay levels are commensurate with peer roles at peer institutions, and 2. Ensure that compensation is in line with Section 4958 of the Internal Revenue Code. The results of the survey suggested that the College is in line with respect to Section 4958 of the Internal Revenue Code. Form 990, Part VI, Section C, Line 19 Governing documents, the conflict of interest policy and the financial statements are available upon request in hard copy and electronic (.pdf) form. Form 990, Part XII, Line 2c During the 2015 tax year the Audit Committee of the Board of Trustees was given sole authority to choose the independent auditor. Previously the entire Board chose the independent auditor with consideration of the Audit Committee's recommendation.