2015-05-07T19:17:14-05:00 2014-06-30 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 100172013 990 2013-07-01 141338580 Trustees of union college % DIANE BLAKE TRUS 5183886104 807 Union street Suite schenectady NY 12308 DIANE BLAKE VP Finance & Adminisistration 5183886104 2015-05-08 true Scott Thompsett P00741490 5183886104 2013 2016-02-25 16:41:14Z STEPHEN AINLAY 807 UNION STREET schenectady NY 12308 466021657 false X WWW.UNION.EDU X 1795 NY We are a scholarly community dedicated to shaping the future & to understanding the past. We welcome diverse and talented students and provide them a broad & deep education. 38 35 2473 10 90095 21786990 19200991 120117719 125253390 19518195 30671226 3860508 3267640 165283412 178393247 39757598 40752104 0 0 68498711 71114098 0 0 5691112 45891506 47418886 154147815 159285088 11135597 19108159 572031273 668202494 107276391 148870455 464754882 519332039 X Union College, chartered by the state of New York in 1795, is one of the nation's oldest and most distinguished liberal arts colleges. Consistently ranked among the nation's top colleges, Union is a leader in educating students to be engaged, innovative and ethical contributors to a diverse, global and technologically complex society. Faculty, staff and administrators welcome diverse and talented students to the campus community, work closely with them to provide a broad and deep education, and guide them in finding and cultivating their passions. The College offers a wide range of disciplines and interdisciplinary programs in the liberal arts and engineering, as well as academic, athletic, cultural and social activities, including opportunities to study abroad and to participate in undergraduate research and community service. false false 145938614 40752104 125253390 The Union College curriculum emphasizes collaboration with students and faculty through small classes and undergraduate research, international study and learning through service. Through its unique interdisciplinary approach to the liberal arts, Union combines the humanities and social sciences with science and engineering, emphasizing the practical application of ideas through hands-on experience. With more than 40 majors and 55 minors to choose from, Union students can pursue double majors; combine majors and minors; select interdepartmental and multidisciplinary concentrations, and area, ethnic and cultural studies programs; or design their own major. Most students take three courses in each of the three 10-week terms that comprise Union's academic calendar system. Nearly every academic department requires students to complete some form of research in their subject area, and students have opportunities to work one-on-one with their professors. At Steinmetz Symposium each spring, some 400 students present the results of their research, scholarly and creative activities. Many students co-author publications with their professors and present at the National Conference on Undergraduate Research (NCUR). Many participate in businesses, health care, government and social service internships. The international experience is a hallmark of a Union education, with nearly 60 percent of students pursuing studies, research, internships, and other programs abroad. On campus, opportunities for leadership, discussion and community abound in the Minerva system, offering residential, academic and social programs. Every incoming student is assigned to one of seven Minerva Houses, which also involve faculty and staff. Union's Becker Career Center helps students with career planning, internships and the graduate school and job search. Recent trends show that about a third of graduating seniors go directly to graduate or professional schools, and Union has earned an excellent reputation for placing graduates in medical, law and business schools. Union's more than 22,000 alumni include leaders in all fields, including arts, medicine, science, engineering, media, entertainment, law and politics. Graduates include Nobel Prize and Academy Award winners, a National Book Award winner and a McArthur Fellow, an Olympic Gold medalist, seven Cabinet secretaries, a secretary of state, 13 governors, 200 judges, 90 college presidents and the 21st president of the United States. 145938614 true true false true false false true true false true true true false false true true true false true false true false true false true false false true true true true false false false false false false false false true false true true false false false true true true false false true 2926 0 true 2473 true true true false false false false true true false false false false X 38 35 true false false false false false false true true false false false true true true true true true true false X DIANE BLAKE 5183886104 807 UNION STREET schenectady NY 12308 X GUY LOGAN TRUSTEE 1.0 0.0 X 0 0 0 DAVID MIXER TRUSTEE 1.0 0.0 X 0 0 0 MARY TEMPLETION TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN AINLAY PRESIDENT 40.0 0.0 X X 480117 0 93156 FRANK L MESSA LIFE TRUSTEE 2.0 0.0 X 0 0 0 NEIL M GOLUB LIFE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN J CIESINSKI LIFE TRUSTEE 1.0 0.0 X 0 0 0 NORTON REAMER LIFE TRUSTEE 1.0 0.0 X 0 0 0 ROBERT BERTAGNA TERM TRUSTEE 1.5 0.0 X 0 0 0 DAVID BREAZZANNO TERM TRUSTEE 1.5 0.0 X 0 0 0 ESTELLE COOKE-SAMPSON TERM TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM CURTIN TERM TRUSTEE 1.0 0.0 X 0 0 0 JUDITH DEIN TERM TRUSTEE 1.0 0.0 X 0 0 0 DAVID HENLE TERM TRUSTEE 2.5 0.0 X 0 0 0 ROY JACKSON TERM TRUSTEE 1.0 0.0 X 0 0 0 ADRIAN MACLEAN JAY TERM TRUSTEE 1.0 0.0 X 0 0 0 DOUGLASS KARP TERM TRUSTEE 1.5 0.0 X 0 0 0 JOHN KELLY III TERM TRUSTEE Vice chairman 1.8 X X 0 0 0 JAMES LIPPMAN TERM TRUSTEE 1.5 0.0 X 0 0 0 KATHY MAGLIATO TERM TRUSTEE 1.0 0.0 X 0 0 0 STANLEY O' BRIEN TERM TRUSTEE 1.5 0.0 X 0 0 0 LAWRENCE PEDOWITZ TERM TRUSTEE/General counsel 2.3 0.0 X X 0 0 0 STEPHEN RITTERBUSH TERM TRUSTEE 1.0 0.0 X 0 0 0 ELLEN SMITH TERM TRUSTEE 1.0 0.0 X 0 0 0 JAMES TAYLOR TERM TRUSTEE 1.0 0.0 X 0 0 0 MARK WALSH chairman 3.8 0.0 X X 0 0 WILLIAM WICKER TERM TRUSTEE 1.0 0.0 X 0 0 KELLY WILLIAMS TERM TRUST SEC 2.3 0.0 X X 0 0 ROBERT DANZIGER ALUMNI TRUSTEE 1.0 0.0 X 0 0 PATRICK DICERBO ALUMNI TRUSTEE 1.0 0.0 X 0 0 RICHARD LEV ALUMNI TRUSTEE 1.0 0.25 X 0 0 JASON OSHINS ALUMNI TRUSTEE 1.0 0.0 X 0 0 JOHN SPINELLI FACULTY TRUSTEE 40.0 0.0 X 111965 0 49035 HANS-FRIEDRICH MUELLER FACULTY TRUSTEE 40.0 0.0 X 141564 0 43394 RYAN BOTTIN STUDENT TRUSTEE 1.0 0.0 X 0 0 0 EVAN LEIBOVITZ STUDENT TRUSTEE 1.0 0.0 X 0 0 0 DONALD FOLEY CHAIRman president's council 1.0 0.0 X 0 0 0 Governor Andrew Cuomo ex-officio 0.0 0.0 X 0 DIANE BLAKE VP finance & administration 40.0 0.0 X 222229 0 30662 THERESE MCCARTY VP Academic affairs/dean facul 40.0 0.0 X 260600 0 64162 EDWARD SUMMERS CHIEF OF STAFF/Assistant sec. 40.0 0.0 X 100614 0 16885 PENELOPE ADEY REGISTRAR 40.0 0.0 X 84490 0 45050 MATTHEW MALATESTA VP FOR ADMISSIONS, FA & ENROLL 40.0 0.0 X 178314 0 33437 ELLEN BORKOWSKI CHIEF INFORMATIONAL OFFICER 40.0 0.0 X 158264 0 31653 ERIC BENNETT MEN'S HOCKEY COACH 40.0 0.0 X 158088 0 31009 HAROLD FRIED professor of business ethics 40.0 0.0 X 155770 0 27437 ROBERT BAKER PROFessor of PHILOSOPHY 40.0 0.0 X 152697 0 27082 SCOTT RAVA SR. Philanthropic advisor 40.0 0.0 X 144422 0 21526 DAVID MITCHELL HAYES VP Acad Affair/dean of faculty 40.0 0.0 X 188774 0 30708 2537908 0 545196 102 false true false WAINSCHAF ASSOCIATES INC 65 WASHINGTON ST RENSSELAER NY 12144 CONSTRUCTION 993930 UW MARX INC 20 GURLEY AVENUE TROY NY 12182 CONSTRUCTION 1699077 MAGGS ASSOCIATES 501 STATE STREET SCHENECTADY NY 12305 LEGAL 665912 FPI MECHANICAL INC 11 GREEN MOUNTAIN DR COHOES NY 12047 CONSTRUCTION 2784559 BEYNON SPORTS SURFACES INC 16 ALT ROAD HUNT VALLEY MD 21030 CONSTRUCTION 539463 17 100368 2859859 16240764 4226481 19200991 TUTION & FEES 611710 102572832 102572832 AUXILIARY ENTERPRISE 713990 22373329 22373329 ATHLETICS 713990 289229 289229 BOOKSTORE 611710 18000 18000 125253390 2871671 82845 2788826 0 0 0 0 0 312368947 284569392 27799555 27799555 27799555 34149 100368 65828 -31679 -31679 0 4338487 2993190 1345297 1345297 CONFERENCING CENTER & MISCELLANEOUS 900099 1946772 1946772 ATHLETIC CONTRACTUAL REVENUE 900099 7250 7250 1954022 178393247 124946161 90095 34156000 43389 43389 40687415 40687415 21300 21300 0 2282995 1137670 976219 169106 132834 132834 49426786 44776868 2031678 2618240 5593138 5081647 223485 288006 10050465 8932909 487282 630274 3627880 3210169 214802 202909 493725 493725 370701 28560 342141 174693 174693 9701 9701 0 1000415 93057 907358 1895893 1513172 201219 181502 357903 205142 75656 77105 8386538 7440623 384067 561848 3490735 3337670 65891 87174 0 7724232 7046680 562357 115195 2805217 2349321 121689 334207 0 2419892 1840963 168957 409972 4090172 4083835 6337 0 10480558 10480558 871906 267827 604079 OTHER EXPENSES 2846605 2733280 107452 5873 159285088 145938614 7655362 5691112 87954 46374 20136846 27090906 16006589 12605814 2939358 2258970 0 0 0 0 6441803 6660951 990282 1020161 1048867 1410752 361800037 215159904 146988290 146640133 68066746 88479368 294056111 366631694 0 0 0 0 15268427 15357371 572031273 668202494 12893586 14402641 0 0 994122 1328616 74048978 74341947 0 0 0 0 0 39678247 0 0 19339705 19119004 107276391 148870455 X 191701469 205245276 122609745 157547519 150443668 156539244 464754882 519332039 572031273 668202494 X 19108159 32850486 2618512 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 10469 10469 false Question 1 Union retains a lobbying firm in Washington DC to obtain funding for the College through the federal appropriations process. In addition, the College is a member of NACUBO and pays annual dues to retain that membership. $768 of its annual membership dues was deemed to be non-deductible as lobbying expenditures and has been included on Schedule C, Part II-B, Line 1(i). X X 1 99.00 1 1 1 false false 10320 X X X X EDUCATIONAL false 358608739 8448287 72927869 4009105 11568740 8563000 415844050 321972461 18078890 41615439 3789795 13068256 6200000 358608739 327756302 6306707 10652263 4087275 13055536 5600000 321972461 297078531 6711456 57057490 4794124 21437051 6860000 327756302 291305120 6635723 37872215 5109830 28774697 4850 301923681 0.29000 0.37000 0.34000 true false 101 101 151736726 73692642 78044084 77185438 34889386 42296052 88163617 75093658 13069959 44714155 31484218 13229937 146640133 DISTRESSED DEBT 16825487 F DOMESTIC EQUITY 97343176 F INTERNATIONAL EQUITY 33646675 F FIXED INCOME 29967907 F VENTURE CAPITAL 2925417 F PRIVATE EQUITY 49275268 F MULTI STRATEGY 17480709 F HEDGED EQUITY 88006801 F EMERGING MARKETS 22398081 F INTERNATIONAL PRIVATE EQUITY 8762173 F 366631694 0 ACCRUED POST RETIREMENT BENEFIT 10607170 ASSET RETIREMENT OPBLIGATIONS 1478390 FEDERAL STUDENT LOAN 2401334 POOLED INCOME & CHARITABLE ANNUITY PAYABLE 4632110 19119004 X 176319843 32850486 2861021 35711507 140608336 37784911 37784911 178393247 121742686 -37542402 -37542402 159285088 159285088 PART II, LINE 3 - EXPLANATION OF EACH EASEMENT CHANGE UNION COLLEGE WAS THE BENEFICIARY OF A PIECE OF PROPERTY WHICH HELD A CONSERVATION EASEMENT. THE COLLEGE DOES NOT ORDINARILY HOLD EASEMENTS. DURING OUR FISCAL YEAR ENDED JUNE 30, 2014, UNION COLLEGE RECEIVED A GIFT OF A TRACT OF LAND THAT HELD A CONSERVATION EASEMENT. THIS PROPERTY WAS RECEIVED AND SOLD DURING THE SAME FISCAL YEAR, THEREFORE THE COLLEGE DID NOT FEEL THE NEED TO PROMULGATE A POLICY AS IT DID NOT INTEND TO HOLD THE PROPERTY. DURING THE TIME THE COLLEGE OWNED THE PROPERTY THE CONSERVATION EASEMENT WES MONITORED BY THE LESSEE. The college's audited financial statements does not contain a footnote describing the college's accounting for conservation easements. PART III, LINE 1A - F/S FOOTNOTE FOR ART, TREASURES, ETC. THE COLLEGE'S COLLECTIONS ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. ALL PROCEEDS RESULTING FROM THE DEACCESSION OF OBJECTS FROM THE PERMANENT COLLECTION ARE ALLOCATED FOR THE BENEFIT OF THE COLLECTIONS. DURING THE YEARS ENDED JUNE 30, 2014 AND 2013, NO OBJECTS WERE DEACCESSIONED. PART III, LINE 4 - DESCRIPTION OF ORGANIZATION COLLECTIONS & HOW IT FURTHERS EXEMPT PURPOSE THE COLLEGE'S COLLECTIONS ARE MADE UP OF APPROXIMATELY 18,500 OBJECTS AND THEIR ESTIMATED FAIR VALUE IS APPROXIMATELY $18,200,000. THE COLLEGE'S POLICY IS NOT TO CAPITALIZE ITS COLLECTIONS. THE COLLEGE'S COLLECTIONS COMPRISE OF PAINTINGS AND PORTRAITS, FURNITURE, WORKS ON PAPER, SCIENTIFIC INSTRUMENTATION AND OTHER OBJECTS. PART V, LINE 4 - INTENDED USES OF ENDOWMENT FUND The intended use of the organization's endowment funds are to be used for programs and other educational purposes in accordance with donor intentions for the use of funds. PART X - FIN 48 FOOTNOTE THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAX ON RELATED INCOME. THE COLLEGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING RECOGNIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE RELFECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D OTHER REVENUE INCLUDED IN F/S BUT NOT INCLUDED ON FORM 990 ACTUARIAL ADJUSTMENT $2,802,440 ATHLETIC FUNDRAISING EXPENSES $65,828 Reclassed to OFfset Revenue ATHLETIC SPONSORSHIP AGREEMENT ($7,250) --------------- TOTAL $2,861,021 PART XI, LINE 4B OTHER REVENUE INCLUDED ON FORM 990 BUT NOT INCLUDED IN F/S Costs of Goods Sold $(2,993,190) Re-class of scholarship expenses 40,778,101 to Part IX of the Form 990 --------------- total $37,784,911 PART XII, LINE 2D OTHER EXPENSES AND LOSSES PER AUDITED F/S Costs of Goods Sold $ 2,993,190 Below the Line Non-Operating Expense ($242,509) re-class of scholarship expenses ($40,778,101) to Part IX of Form 990 --------------- total $37,542,402 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 - RACIALLY NONDISCRIMINATORY POLICY RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED THROUGH AREA NEWSPAPERs, in student handbooks and on the college's website. UNION COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, SEXUAL ORIENTATION, NATIONAL OR ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS. THIS POLICY EXTENDS TO THE ADMINISTRATION OF THEIR EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. SCHEDULE E, LINE 6 - EXPLANATION OF AID OR ASSISTANCE FROM GOVERNMENTAL AGENCY THE ORGANIZATION HAS RECEIVED THE FOLLOWING FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY: 1. FEDERAL CAMPUS-BASED AID, WHICH INCLUDES FEDERAL WORK-STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, AND FEDERAL PERKINS LOANS FROM THE U.S. DEPARTMENT OF EDUCATION. 2. NSF-STEM SCHOLARSHIPS WHICH ARE FUNDED BY THE FEDERAL GOVERNMENT. 3. TAP AWARDS, NYS MERIT SCHOLARSHIPS AND TUITION/MAINTENANCE GRANTS RECEIVED FROM NYS FOR THE HEOP PROGRAM. 4. ROTC-FEDERAL FUNDING WHICH COVERS A PORTION OF EDUCATIONAL EXPENSES FOR THE RECIPIENTS. true Russia and the Newly Independent States Program Services study abroad 111522 Europe (Including Iceland and Greenland) Program Services study abroad 1463972 Sub-Saharan Africa Program Services study abroad 25090 East Asia and the Pacific Program Services study abroad 784467 South America Program Services study abroad 747255 Middle East and North Africa Program Services study abroad 5795 South Asia Program Services study abroad 79056 North America Program Services study abroad 17716 Central America and the Caribbean Investments 196843047 Sub-Saharan Africa Investments 1446340 Europe (Including Iceland and Greenland) Program Services fundraising 2384 Europe (Including Iceland and Greenland) Program Services research 8649 Europe (Including Iceland and Greenland) Program Services conference 5233 North America Program Services educational activity 3429 North America Program Services recruiting/athletics 16606 North America Program Services recruiting admissions 1500 North America Program Services research 30 East Asia and the Pacific Program Services its software 2173 East Asia and the Pacific Program Services recruiting/admission 2860 Middle East and North Africa Program Services recruiting/admission 10 South Asia Program Services research 1259 Central America and the Caribbean Program Services research 5725 South America Program Services recruiting/admission 3634 South America Program Services research 3765 North America Program Services conference 6038 East Asia and the Pacific Program Services conference 945 South America Program Services research 272 East Asia and the Pacific Program Services research 2791 Middle East and North Africa Program Services conference 1006 201562091 30478 201592569 scholarship East Asia and the Pacific 3 3000 student acc. scholarship Europe (Including Iceland and Greenland) 9 11800 student acc. scholarship Russia and the Newly Independent States 2 2500 student acc. scholarship South America 3 4000 student acc. true false true true true false part I, line 2 - explanation for monitoring use of funds outside U.S. Term abroad scholarships are awarded by union's terms abroad office to students scheduled to study abroad based on financial need and criteria established by the donor. The student receiving the award understands that the funds must be returned to union if the student does not travel abroad. The award is generally used for the student's travel expenses, which are not covered by union college. Upon his/her return, the student is urged to write a personal note of thanks to the donor describing her/her terms abroad experience. Part IV, Foreign Forms The College invests in domestic and foreign investment vehicles that may own an interest in a foreign corporation, passive foreign investment company, or foreign partnership. Nevertheless, the College's investment activities may not reach the thresholds required for filing the Forms 926, 5471, 8621 or 8865. To the extent such a form was completed, it has been filed with the College's Form 990-T. golf tournament 51606 39218 12388 4702 13896 1655 Gridiron Golf 34085 29865 4220 1848 12075 615 3 48826 31285 17541 1246 23937 1000 1250 3604 134517 100368 34149 7796 49908 1000 1250 5874 65828 -31679 true Alumni Council of Union College 807 Union Streeet Schenectady NY 12308 146019466 40161 Administrative Support 1 0 Higher Education Opportunity Program 86 156725 Union College General Scholarships 1635 33725633 Endowed Scholarships 613 4023083 Annual Restricted Scholarships 94 1091035 Work Study 859 1041606 Supplemental Educational Opp. Grant 347 251592 Supporting Scholars in Sci. & Eng 19 123500 ROTC Scholarship 7 274241 PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANTS FUNDS IN U.S. ALL GRANTS AWARDED ARE BASED ON NEED AND CONFORM TO FEDERAL, STATE AND INSTITUTIONAL REGULATIONS. ELIGIBILITY IS BASED ON A THOROUGH REVIEW AND VERIFICATION OF A FAMILY'S INCOME, ASSETS, SIZE AND NUMBER OF DEPENDENTS ENROLLED IN COLLEGE. ANNUAL EXPENDITURE REPORTS ARE SUBMITTED TO THE FEDERAL AND STATE GOVERNMENTS FOR REVIEW. THE FUND EXPENDITURES ARE REVIEWED FOR COMPLIANCE IN AN ANNUAL AUDIT CONDUCTED BY AN INDEPENDENT ACCOUNTING FIRM. The college does not further monitor the usage of scholarship funds as these amounts are credited directly against students tuition account and there is no opportunity for the student to divert these funds to non-educational uses. X X X X false true X X X false true false false false false false false false STEPHEN AINLAY PRESIDENT 458328 0 0 21789 0 52005 0 41151 0 573273 0 0 0 JOHN SPINELLI FACULTY TRUSTEE 94465 0 0 0 17500 0 13375 0 35660 0 161000 0 0 0 HANS-FRIEDRICH MUELLER FACULTY TRUSTEE 141564 0 0 0 0 0 14886 0 28508 0 184958 0 0 0 DIANE BLAKE VP finance & administration 213229 0 0 0 9000 0 24539 0 6123 0 252891 0 0 0 THERESE MCCARTY VP Academic affairs/dean facul 243100 0 0 0 17500 0 28050 0 36112 0 324762 0 0 0 MATTHEW MALATESTA VP FOR ADMISSIONS, FA & ENROLL 178314 0 0 0 0 0 20197 0 13240 0 211751 0 0 0 ELLEN BORKOWSKI CHIEF INFORMATIONAL OFFICER 158264 0 0 0 0 0 18466 0 13187 0 189917 0 0 0 ERIC BENNETT MEN'S HOCKEY COACH 158088 0 0 0 0 0 17875 0 13134 0 189097 0 0 0 HAROLD FRIED professor of business ethics 155770 0 0 0 0 0 14967 0 12470 0 183207 0 0 0 ROBERT BAKER PROFessor of PHILOSOPHY 152697 0 0 0 0 0 17280 0 9802 0 179779 0 0 0 SCOTT RAVA SR. Philanthropic advisor 144422 0 0 0 0 0 15672 0 5854 0 165948 0 0 0 DAVID MITCHELL HAYES VP Acad Affair/dean of faculty 188774 0 0 0 0 0 20936 0 9772 0 219482 0 0 0 PART 1, LINE 1A - RELEVANT INFORMATION REGARDING COMPENSATION BENEFITS LINE 1 - HOUSING ALLOWANCE PER THEIR EMPLOYMENT CONTRACTS, THE COLLEGE PROVIDES HOUSING FOR THE PRESIDENT, VICE PRESIDENT FOR COLLEGE RELATIONS, VICE PRESIDENT FOR STUDENT AFFAIRS AND RESIDENT DIRECTORS & ADVISORS. OF THIS GROUP, ONLY THE PRESIDENT, STEPHEN AINLAY IS REQUIRED TO BE DISCLOSED ON SCHEDULE J. WE HAVE ESTIMATED THE VALUE OF HOUSING TO BE APPROXIMATELY $2,000 PER MONTH. THE value of the employer provided housing to the President is deemed to be non-taxable and NOT INCLUDED IN his FORM W-2 as residence on campus is a necessary condition of his employment. LINE 1 - HEALTH OR SOCIAL CLUB OR INITIATION FEES As Part of President, STEPHEN AINLAY's employment contract, THE COLLEGE PAYS FOR TWO CLUB MEMBERSHIPS; THE FIRST IS TO THE MOHAWK GOLF CLUB IN SCHENECTADY AND THE OTHER MEMBERSHIP IS TO THE UNIVERSITY CLUB IN NEW YORK CITY. The President utilizes both clubs for business purposes only and to the extent there may be any personal use, the College will review that usage and tax the President accordingly. LINE 1 - PERSONAL SERVICES As part of President, STEPHEN AINLAY's employment contract, THE COLLEGE may provide gardening and/or housekeeping services. The expense has been INCLUDED IN the above-mentioned hOUSING ALLOWANCE. LINE 1 - TRAVEL FOR COMPANIONS CONSISTENT WITH CODE SECTION 274(M)(3), THE COLLEGE DID NOT INCLUDE DE MINIMIS TRAVEL EXPENSES FOR PRESIDENT AINLAY'S SPOUSE AS SHE IS AN EMPLOYEE OF THE COLLEGE AND TRAVEL IS A REQUIRED PART OF HER JOB. (See Schedule L for more information). PART I, LINE 4 - RECEIVED SEVERANCE, SUPPLEMENTAL NQ RETIREMENT, EQUITY The College contributed $23,955 to President STEPHEN AINLAY's Section 457(f) plan. A Schenectady County Cap Re 273478847 806418AT6 2012-04-26 24263434 Refinance Portion Series 2001 true false false B County of Schenectady IDA 141699509 2005-12-22 6150000 Renovate college's fitness ct false false false C City of Schenectady IDA 144699509 806153BF3 2006-11-22 33356354 Refinance Series 1999 IDA Bond true false false D Schenectady County Cap Re 273478847 2010-12-23 15310000 Fund Facilities Renewal Plan false false false A 281082 24287175 24263434 0 0 0 470121 0 0 23793313 0 0 2005 true true false true B 3526250 0 6150000 0 0 0 98667 0 0 6051333 0 0 2009 false false true true C 1751694 30030000 33356354 0 0 0 410663 0 0 32945691 0 0 2005 false true true true D 18815 0 15291185 0 72991 0 291184 0 0 15000001 0 0 2013 false false false true A false false false false 0.03500 0.01860 0.05360 false false false true B false false false false 0 0.01600 0.01600 false false false true C false false false false 0 0.01200 0.01200 false false false true D false false false false 0 0.01900 0.01900 false false false true A false false false true false false 0 false 0 false true B false false true true true true Bank of America 8.4 false false false 0 false true C false false true true false false 0 false 0 false true D false false true true true true JP Morgan Chase 6. false false false 0 false true A true B true C true D true SCHEDULE K - PART VI - SUPPLEMENTAL INFORMATION PART II BOND ISSUE 2006: UNION COLLEGE RECEIVED $33,356,354 IN PROCEEDS FROM THE CITY OF SCHENECTADY INDUSTRIAL DEVELOPMENT AGENCY CIVIC FACILITY REFUNDING REVENUE BONDS (UNION COLLEGE PROJECT), SERIES 2006. THESE PROCEEDS WERE USED TO REFINANCE THE 1999 ISSUE AND A PORTION OF THE 2001 ISSUE. INITIALLY, ALL PROCEEDS (WITH EXCEPTION OF PROCEEDS USED FOR COSTS OF ISSUANCE) WERE PLACED INTO AN ESCROW ACCOUNT. PROCEEDS WOULD REMAIN IN THE ESCROW ACCOUNT UNTIL THE BONDS COULD BE CALLED, WHICH WAS 10 YEARS FROM THE ORIGINAL DATE OF ISSUE. AS OF JUNE 30, 2014, THE 1999 AND 2001 DEBT HAD BEEN PAID OFF. THE DATE OF SUBSTANTIAL COMPLETION, 2005, REPRESENTS THE YEAR IN WHICH THE PROJECTS RELATED TO THE 2001 DEBT (THAT WAS REFINANCED BY THE 2006 DEBT) WERE SUBSTANTIALLY COMPLETE. BOND ISSUE 2012: UNION COLLEGE RECEIVED $24,263,434 IN PROCEEDS FROM THE SCHENECTADY COUNTY CAPITAL RESOURCE CORPORATION CIVIC TAX-EXEMPT REVENUE BONDS (UNION COLLEGE REFUNDING PROJECT), SERIES 2012A. THESE PROCEEDS WERE USED TO REFINANCE THE 2003 ISSUE AND THE REMAINING OUTSTANDING PORTION OF THE 2001 ISSUE. INITIALLY, PROCEEDS FROM THE 2003 PORTION OF THE REFUNDING WERE PLACED INTO AN ESCROW ACCOUNT. PROCEEDS WOULD REMAIN IN THE ESCROW ACCOUNT UNTIL THE BONDS COULD BE CALLED IN 2013. AS OF JUNE 30, 2014, THE 2003 DEBT HAD BEEN PAID OFF. THE CALL DATE WAS JULY 1, 2013. PART III - LINE 5 BOND ISSUE 2010: TO CALCULATE THE PERCENTAGE, THE TOTAL AMOUNT BORROWED ($15,310,000) WAS USED. PART III LINE 4, 5, 6 BOND ISSUE 2012: TO CALCULATE THE PERCENTAGE ON LINES 4, 5 AND 6, THE TOTAL PROCEEDS WAS USED (INCLUDES THE 2003 AND A PORTION OF THE 2001 REFUNDED BONDS). THE PERCENTAGE OF PRIVATE USE IS GREATER THAN THE 5% CAP AT JUNE 30, 2014. THE COLLEGE HAS A PLAN TO REDUCE THE CONFERENCING ACTIVITY IN THE FUTURE SO THAT THE AVERAGE PERCENTAGE OF PRIVATE USE OVER THE LIFE OF THE BONDS WILL NOT EXCEED THE 5% CAP. Scott Montgomery Brother In Law 71642 Employee false Judith Ainlay Spouse of President 61192 Spouse College Employee false Schedule L, Part IV - Interested Persons Vice President of Finance and Administration Diane Blake's brother-in-law, Scott Montgomery, is an employee of the College. X 5200 Opinion of Expert X 217 3919172 Market Value X 1 215000 FMV X 2 5120 Opinion of Expert X 27 1261 Cost X Computer Equipment 74 22230 Cost X Athletic broad/event 23 37576 Selling Price X Miscellaneous 15 20922 Selling Price 2 false true false Line 32A, Third Parties to the extent that the college receives non-cash contributions of securities, its investment manage/broker is tasked with selling those securities on the college's behalf. Part VII COLUMN B THE FOLLOWING INDIVIDUALS LISTED IN PART VII, COLUMN A ALSO DEVOTE HOURS TO THE FOLLOWING RELATED ORGANIZATIONS: . RICHARD LEV, TRUSTEE - ALUMNI COUNCIL; 0.25 HOURS PER WEEK Part VII Officer Positions President Stephen Ainlay was on sabbatical from July 1, 2013 through 12/31/2013; in that interim, Therese McCarty assumed the position of Acting President and David Mitchell Hayes assumed the position of Vice President for Academic Affairs. FORM 990, PART VI, LINE 2 - business or family relationships 1. STEPHEN RITTERBUSH & KATHY MAGLIATO have a BUSINESS RELATIONSHIP 2. DAVID BREAZZANO & JAMES TAYLOR have a BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 11b - FORM 990 REVIEW PROCESS The organization's Form 990 is prepared in conjunction with a nationally recognized accounting firm. Upon completion, the Form 990 is provided TO THE AUDIT COMMITTEE of the Board of Directors and a detailed walkthrough of its contents is provided at the Audit Committee's meeting. PRIOR TO electronic submission of the 990 to the Internal revenue service, THE AUDIT COMMITTEE CHAIR PROVIDES AN OVERVIEW OF THE REVIEW TO THE FULL BOARD OF TRUSTEES. IN ADDITION, A COPY OF THIS FORM 990 IS AVAILABLE FOR REVIEW IN THE COLLEGE'S FINANCE OFFICE. FORM 990, PART VI, LINE 12C - EXPLANATION OF MONITORING AND ENFORECEMENT OF CONFLICTS THE TRUSTEES OF UNION COLLEGE HAVE A WRITTEN CONFLICT OF INTEREST POLICY, WHICH REQUIRES OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES TO ANNUALLY DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. QUESTIONNAIRES ARE SENT ANNUALLY TO MONITOR AND ENFORCE COMPLAINCE WITH THE POLICY. THE RESPONSES TO THE QUESTIONNAIRES ARE REVIEWED BY BOTH THE PRESIDENT'S OFFICE AND FINANCE FOR POTENTIAL CONFLICTS OF INTEREST THAT REQUIRE DISCLOSURE. IF A CONFLICT OF INTEREST IS NOTED, A BOARD MEMBER WOULD HAVE TO RECUSE HIMSELF FROM VOTING, IF SO REQUIRED. FORM 990, PART VI, LINE 15A - COMPENSATION REVIEW & APPROVAL PROCESS - President The College undertakes a thorough and rigorous process to determine the President's compensation. THe College has established an EXECUTIVE COMPENSATION COMMITTEE that ACTs AS A COMMITTEE OF THE BOARD. THe executive compensation committee is comprised of THE CHAIRMAN, VICE CHAIRMAN, SECRETARY, AND GENERAL COUNSEL OF THE BOARD OF TRUSTEES. THE CHAIR OF THE BOARD SERVES AS THE CHAIR OF THE COMMITTEE. THE COMMITTEE ACTS AS THE AUTHORIZED BODY UNDER TREASURY REG. 53.4958-6, RESPONSIBLE FOR APPROVING THE COMPENSATION ARRANGEMENTS OF THE PRESIDENT. THE COMMITTEE will: A. REVIEW GOALS FOR THE UPCOMING YEAR AND ACCOMPLISHMENTS FOR THE YEAR JUST ENDED. B. OBTAIN APPROPRIATE ANALYSIS AND STUDIES FOR USE IN EVALUATING THE COMPENSATION OF THE PRESIDENT. C. DOCUMENT ITS DELIBERATIONS AND DECISION ESTABLISHING THE PRESIDENT'S COMPENSATION. D. REPORT TO THE EXECUTIVE COMMITTEE OF THE BOARD ANNUALLY ITS FINDINGS AND ACTIONS. FORM 990, PART VI, LINE 15B - COMPENSATION REVIEW & APPROVAL PROCESS - Officers & Key Employees The College undertakes a similarly detailed process to determine the compensation of the College's officers and key employees (as reported on Part VII of the Form 990) A. The Compensation Committee obtains appropriate analysis and studies from the administration to use as an aid in evaluating the compensation recommendations of the President for these employees. B. The Compensation Committee deliberates on, and approves, all compensation at a meeting and the decisions are documented in committee minutes. FORM 990, PART VI, LINE 19 - availability of documents to the public THE TRUSTEES OF UNION COLLEGE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST and at management's discretion. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE COLLEGE'S WEBSITE WWW.UNION.EDU and at management's discretion. FORM 990, PART XI, LINE 9 ACTUARIAL ADJUSTMENT $2,802,443 ATHLETIC FUNDRAISING EXPENSE $65,828 ATHLETIC SPONSORSHIP AGREEMENT ($7,250) Below-the Line Non-Operating Revenue ($242,509) ------------------ TOTAL $2,618,512 ALUMNI COUNCIL OF UNION COLLEGE INC 807 UNION ST ABBE HALL SCHENECTADY NY 12308 146019466 fundraising NY 501(C)(3) 11C NA false CHARITABLE LEAD ANNUITY TRUST (1) INVESTING NY UNION COLLEGE CLAT 0 0 false CHARITABLE REMAIN ANNUITY TRUST (1) INVESTING NY UNION COLLEGE crat 0 0 false CHARITABLE REMAIN UNITRUST (10) INVESTING UNION COLLEGE crut 0 0 false INCOME BENEFICIARY TRUST (3) INVESTING UNION COLLEGE TRUST 0 0 false false false false false false false false false false false false false false true true false true true false PART IV LINE 3 THE 10 CHARITABLE REMAINDER UNITRUSTS LISTED ON LINE 3 OF PART IV HAVE THE FOLLOWING LEGAL DOMICILES: 2-NY 1-NJ 2-CT 1-FL 1-MO 2-CA 1-PA PART IV, LINE 4 THE 3 INCOME BENEFICIARY TRUSTS LISTED ON LINE 4 PART IV HAVE THE FOLLOWING LEGAL DOMICILES: 2-NY 1-NJ