2015-05-12T14:59:28-07:00 2014-06-30 990 2013-07-01 161532850 EXCELSIOR COLLEGE EXCE 5184648500 7 Columbia Circle Albany NY 122035159 Hillary Harding Controller 5186088382 2015-05-12 2013 2016-03-07 17:11:31Z John Pontius 7 Columbia Circle Albany NY 122035159 99853116 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. 18 18 1571 0 0 0 1342437 1084565 78915559 87137761 1181750 1654350 5872 84876 81445618 89961552 602676 589358 0 0 52641803 59312953 54200 53404 1356531 24700593 27134240 77999272 87089955 3446346 2871597 46555847 58988876 16625734 25618198 29930113 33370678 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 31353799 191979 57016728 Undergrad and Graduate Tuition (credit and non-credit bearing). During this period, 137,831 undergraduate hours of course instruction, and 17,274 hours of graduate level course instruction were delivered. 13470799 397379 14485859 Nursing performance and other administered examinations. During this period, the College administered 30,677 credit bearing examinations to students enrolled in its various programs including Nursing and administered 1,978 performance examinations to students enrolled in its Nursing programs. 13097096 0 14910701 Enrollment in higher education. During this period, 15,759 new students enrolled in the College while there were 36,933 actively enrolled students as of 6/30/14. 4,709 students completed degree requirements between 7/1/13 and 6/30/14. 3775665 0 724472 Other Program Services consists of: 1)The President's 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; and 4) The Excelsior College Press which publishes contemporary nonfiction in areas that support the academic interests of the College. 3775665 0 724472 61697359 1 1 0 1 0 0 0 1 0 1 1 0 0 0 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 1 320 0 1 1571 1 0 0 0 0 0 1 1 0 0 0 0 X 18 18 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X Hillary Harding 5186088382 Excelsior College 7 Columbia Circle Albany NY 12203 Jerry L Neff Chairman of the Board 1.2 0 X 0 0 0 Richard Yep Chairman of the Board (Term ended 12/31/13) 1.2 0 X 0 0 0 Polly Baca Board Member 1.2 0 X 0 0 0 William G Harris Board Member 1.2 0 X 0 0 0 Helen Benjamin Board Member 1.2 0 X 0 0 0 Harold Hodgkinson Board Member 1.2 0 X 0 0 0 Mary O'Connor Vice Chairman of the Board 1.2 0 X 0 0 0 Linda Davila Vice Chairman of the Board (Term ended 12/31/13) 1.2 0 X 0 0 0 Garry Jaunal Board Member 1.2 0 X 0 0 0 Don Dea Board Member 1.2 0 X 0 0 0 Michael Loughran Board Member 1.2 0 X 0 0 0 Debbie Hatmker Board Member 1.2 0 X 0 0 0 Bryanne Hamill Board Member 1.2 0 X 0 0 0 David Oliker Treasurer of the Board 1.2 0 X 0 0 0 Harry L Staley Treasurer of the Board (Term ended 12/31/13) 1.2 0 X 0 0 0 Sharon I Richie Board Member 1.2 0 X 0 0 0 Patricia Crull Board Member 1.2 0 X 0 0 0 Jack Lafield 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 William Senn Board Member (Ex-Officio) 1.2 0 X 0 0 0 Sara Waldorf Board Member (Ex-Officio) 1.2 0 X 0 0 0 Lyvier Conss Board Member 1.2 0 X 0 0 0 KH Maman Board Member 1.2 0 X 1000 0 0 Louis Soares Board Member 1.2 0 X 0 0 0 John Ebersole President and Chief Executive Officer 37.5 0 X 566960 0 107180 Mary Beth Hanner Provost and Chief Academic Officer 37.5 0 X 256411 0 40274 John M Pontius VP for Finance and Administration 37.5 0 X 203596 0 23559 Stephen G Ernst VP for Innovation and Extended Education 37.5 0 X 181607 0 17170 Cathy Kushner VP Institutional Advancement 37.5 0 X 195380 0 37546 Joseph Porter VP for Legal & Governmental Affairs, General Counsel, Secretary to the BOT 37.5 0 X 209063 0 20313 Wayne Brown VP for IT & Chief Information Officer 37.5 0 X 225662 0 23061 Edmund McTernan VP for Human Resources 37.5 0 X 154725 0 44054 Craig Maslowsky VP for Enrollment Management 37.5 0 X 200988 0 43569 Susan O'Hern VP for Strategy & Institutional Effectiveness 37.5 0 X 161826 0 40289 Christa Montagnino Interim VP for Extended Education 37.5 0 X 61910 0 1825 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 37.5 0 X 171300 0 34986 Scott Dalrymple Dean, School of Liberal Arts 37.5 0 X 213835 0 23584 Mary Lee Pollard Dean, School of Nursing 37.5 0 X 163114 0 16836 Murray Block Interim Dean, School of B&T 37.5 0 X 154411 0 15441 Jane LeClair Chief Operating Officer of National Cybersecurity Institute 37.5 0 X 192192 0 26317 Ronald Marzitelli AVP for IT 37.5 0 X 145583 0 12660 Deborah L Sopczyk Dean, School of Health Sciences 37.5 0 X 149861 0 33982 George Timmons Associate Provost for COELAS / Interim Co-Dean, School of Liberal Arts 37.5 0 X 154191 0 18718 Thomas Dalton AVP for Enrollment Management/Financial Aid 37.5 0 X 141642 0 36486 Anita H Burns AVP for Human Resources 37.5 0 X 145159 0 32431 4050416 0 650281 45 0 1 0 Blackboard Inc PO Box 200154 Pittsburgh PA 152510154 Learning Management System 2760619 NCS Pearson Inc 13036 Collection Center Drive Chicago IL 60693 Examination Administrative Services 1758861 TATA Interactive Systems Leela Business Park Andheri Kurla Road Mumbai IN 400 059 Course Development Services 1582418 Milton S Eisenhower Library Johns Hopkins University Baltimore MD 21218 Library Services 1374374 Google Inc Department NO 33654 San Francisco CA 941393654 Advertising 1003386 46 0 0 67601 0 147020 869944 2563 1084565 Graduate, UG, & Non-Credit Bearing Tuition 611310 57016728 57016728 0 0 Enrollment Related Fees 611310 14910702 14910702 0 0 Examination Fees 611310 14485859 14485859 0 0 Educators Serving Educators Fees 611310 662461 662461 0 0 Presidents' Forum Fees 611310 51500 51500 0 0 10511 10511 0 0 87137761 360112 0 0 360112 0 0 0 0 0 0 0 0 168089 0 86436 0 81653 0 81653 0 0 81653 11081743 255 9707177 80583 1374566 -80328 1294238 0 0 1294238 5240 67601 17368 -12128 0 -12128 0 0 0 0 0 0 0 0 0 0 0 0 Merchandise 900099 7994 7994 0 0 Bad Check Charges 900099 6055 6055 0 0 Miscellaneous 900099 1302 1302 0 0 0 0 0 0 15351 89961552 87153112 0 1723875 X 0 0 589358 589358 0 0 0 0 4031898 1348078 2428059 255761 0 0 0 0 44271726 37020076 6494100 757550 2905704 2560320 311962 33422 4403589 3694691 651224 57674 3700036 3093975 542748 63313 0 0 0 0 193421 0 193421 0 126995 0 126995 0 295209 0 295209 0 53404 53404 78974 0 78974 0 10889289 6747206 4103473 38610 3289014 0 3283714 5300 2295270 1160501 1080309 54460 1904150 35225 1868925 0 688526 688526 0 0 1348408 406458 941950 0 1805574 1241319 538405 25850 0 0 0 0 490556 181385 298341 10830 4920 0 4920 0 0 0 0 0 1913526 1233967 679559 0 57497 4036 53461 0 Credit Card Fees 875496 875496 0 0 College Wide Bad Debt Expense 781103 781103 0 0 Miscellaneous Expense 96312 35639 60316 357 0 0 0 0 87089955 61697359 24036065 1356531 -1157413 -528878 11733298 14175991 97080 46867 4852301 4760482 0 0 0 0 768042 892894 116377 106929 1387227 1741499 30268928 15095405 9481276 15173523 19172933 22484814 0 0 0 0 0 0 104726 134755 46555847 58988876 8765646 9800105 584726 713811 6198787 8191293 950266 51204 0 0 0 0 114759 6160938 0 0 11550 700847 16625734 25618198 X 28548332 31714587 545409 686921 836372 969170 29930113 33370678 46555847 58988876 2871597 568968 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 425579 0 1 118506 544085 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 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 419861 23575 48982 19490 19711 0 453217 0 0.82 0.18 0 0 0 1913985 1913985 0 12198894 3034849 9164045 0 54245 54245 0 0 15079533 11752116 3327417 0 1022271 254195 768076 15173523 0 LIABILITIES TO BENEFICIARIES UNDER SPLIT INTEREST AGREEMENTS 11070 DEFERRED RENT 689777 700847 X 90770334 568968 55683 0 0 624651 90145683 0 -184131 -184131 89961552 87329769 55683 0 0 0 55683 87274086 0 -184131 -184131 87089955 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 $2,703 listed as other expenditures represents the College's transfer of funds related to the appreciation of endowment assets to Unrestricted Net Assets from Permanently Restricted Net Assets. 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. However, fiscal years 2011 and later remain subject to examination by the IRS and New York State. Schedule D, Part XI, Line 4b Includes fundraising expenses ($17,367), rental expenses ($86,436) and loss on disposal of assets ($80,328). Schedule D, Part XII, Line 4b Includes fundraising expenses ($17,367), rental expenses ($86,436) and loss on disposal of assets ($80,328). 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 Enrollment initiatives for Excelsior and to attend conferences and meetings 33993 Middle East and North Africa Program Services Attending meetings at AUST and visiting Israel Study Abroad partners and students 13232 East Asia and the Pacific Program Services Enrollment and exam registration initiatives for Excelsior and attending conferences 17260 North America (including Canada and Mexico, but not the United States) Program Services Attending Conferences 8339 0 0 72824 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 CODY LLC 65 Kirkwood North Road SW Cedar Rapids IA 52404 Phone Solicitations 0 61331 45859 15472 THE STELTER COMPANY 10435 New York Avenue Des Moines IA 50322 Planned Giving Newsletter Program and Website 0 0 7544 -7544 61331 53403 7928 NY Partners in Lifelong Learning Scholarship Fundraising Event 72841 67601 5240 0 184 325 9326 0 7532 0 0 72841 67601 5240 0 184 325 9326 0 7532 17367 -12127 1 Scholarships 1111 589358 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 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 John Ebersole President and Chief Executive Officer 405922 0 52500 0 108538 0 90115 0 17827 0 674902 0 0 0 Mary Beth Hanner Provost and Chief Academic Officer 255649 0 0 0 762 0 25500 0 15536 0 297447 0 0 0 John M Pontius VP for Finance and Administration 203100 0 0 0 496 0 20582 0 3373 0 227551 0 0 0 Stephen G Ernst VP for Innovation and Extended Education 153498 0 10000 0 18109 0 0 0 17428 0 199035 0 0 0 Cathy Kushner VP Institutional Advancement 194984 0 0 0 396 0 19966 0 17976 0 233322 0 0 0 Joseph Porter VP for Legal & Governmental Affairs, General Counsel, Secretary to the BOT 208805 0 0 0 258 0 19883 0 688 0 229634 0 0 0 Wayne Brown VP for IT & Chief Information Officer 225524 0 0 0 138 0 21233 0 1966 0 248861 0 0 0 Edmund McTernan VP for Human Resources 154467 0 0 0 258 0 16474 0 30218 0 201417 0 0 0 Craig Maslowsky VP for Enrollment Management 196870 0 4070 0 48 0 20305 0 23312 0 244605 0 0 0 Susan O'Hern VP for Strategy & Institutional Effectiveness 161688 0 0 0 138 0 16793 0 23634 0 202253 0 0 0 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 155265 0 0 0 16036 0 16077 0 22426 0 209804 0 0 0 Scott Dalrymple Dean, School of Liberal Arts 193645 0 20000 0 190 0 17867 0 5807 0 237509 0 0 0 Mary Lee Pollard Dean, School of Nursing 157976 0 5000 0 138 0 15888 0 1086 0 180088 0 0 0 Murray Block Interim Dean, School of B&T 154411 0 0 0 0 0 15441 0 0 0 169852 0 0 0 Jane LeClair Dean, B&T until 6/30/13, Present Chief Operating Officer of NCI 171751 0 0 0 20441 0 17344 0 9369 0 218905 0 0 0 Ronald Marzitelli AVP for IT 145445 0 0 0 138 0 12660 0 138 0 158381 0 0 0 Deborah L Sopczyk Dean, School of Health Sciences 149465 0 0 0 396 0 15463 0 18915 0 184239 0 0 0 George Timmons Associate Provost for COELAS / Interim Co-Dean, School of Liberal Arts 154001 0 0 0 190 0 15635 0 3172 0 172998 0 0 0 Thomas Dalton AVP for Enrollment Management/Financial Aid 141384 0 0 0 258 0 14683 0 22061 0 178386 0 0 0 Anita H Burns AVP for Human Resources 135159 0 10000 0 138 0 14017 0 18551 0 177865 0 0 0 Schedule J, Part I, Line 1a In calender year 2013, the College grossed up taxable wage payments to the President to reimburse the President for taxes incurred related to life insurance benefits. Additionally, in 2013 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 heath 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. In Calender 2013 the College paid for the VP for Innovation and Extended Education's spouse to accompany him to a conference and a conference outing. The payment was not taxable to the employee because the spouse had a bonafide business purpose to accompany the VP for the purpose of networking with other institutions of higher education for the purpose of creating working partnerships. Miguel Corona Husband of Officer Christa Montagnino 22035 Payments for conducting instruction as an adjunct faculty 0 Donna L Jones Wife of Key Employee Patrick Jones 19875 Payments for Military Outreach Counseling Services 0 Tina Dalrymple Wife of Key Employee Scott Dalrymple 13706 Payments for conducting instruction as an adjunct faculty 0 Form 990, Part VI, Section A, Line 4 Since the prior Form 990 was filed, two significant changes have been made to the College Bylaws: 1. Changes were made to the process for removing Board members and officers. Any officer of the Board and the President of the College may now be removed by the affirmative vote of two-thirds of the whole number of Board members with voting authority; 2.Minutes will be taken at all Board executive committee meetings and provided to the full Board within 5 business days. Any actions taken by the Board executive committee will be submitted to the full board for ratification at the next Board meeting immediately following such Board executive committee action. 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. In addition to 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 employee's 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 shall from time to time determine the compensation of the president, and approve the compensation of all other officers of the College, which shall 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 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 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 2013, at the direction of the Board of Trustees, the Office of Human Resources completed an executive compensation survey through a consultant. The study assessed nine positions and made comparisons to comparable staff positions at 17 similarly situated institutions. The study had two objectives; 1.Determine if current pay levels are commensurate with peer roles at target institutions, and 2. Ensure that compensation is in line with Section 4958 of the IRS code. The results of the survey suggested that the College is safely positioned at all levels with respect to Section 4958 of the IRS code. Another compensation study will be completed in 2015. Form 990, Part VI, Section C, Line 19 Hard copies of financial statements are available upon request. All other applicable documents are available upon request in hard copy and electronic (.pdf) form. Form 990, Part IX, Line 11g Consultant Honoraria $184,307 Total, $150,895 Program service expenses, $32,512 Management and general expenses, $900 Fundraising expenses; Exam Proctoring Fees $1,561,475 Total Program service expenses; Library Costs $1,166,644 Total Program service expenses; Recruiting Costs $148,715 Total Management and general expenses; and Other Contractual Services $7,828,148 Total, $3,868,192 Program service expenses, $3,922,246 Management and general expenses, $37,710 Fundraising expenses.