2015-05-14T11:49:56-07:00 2014-06-30 990 2013-07-01 160743088 NAZARETH COLLEGE OF ROCHESTER NAZA 5853892525 4245 East Avenue Rochester NY 146183790 Patrick E Richey VP for Finance & Administration 5853892021 2015-05-14 2013 2016-02-25 16:41:14Z Daan Braveman 4245 East Avenue Rochester NY 14618 110338090 0 X www.naz.edu X 1924 NY Nazareth College of Rochester is a coeducational, independent college that challenges students to rise to their potential with a liberal arts and sciences foundation, professional programs, experiential learning, and an innovative curriculum that addresses the current and emerging needs of the world. 34 31 2169 305 85321 51637 5607734 13051546 86861297 87627886 1334268 5708781 1627559 2076633 95430858 108464846 21506567 21750604 0 0 41378881 39948649 89196 86163 1392398 29731086 31513537 92705730 93298953 2725128 15165893 225239634 243054586 72100715 70875739 153138919 172178847 The mission of Nazareth College is to provide a learning community that educates students in the liberal arts, sciences, visual and performing arts, and professional fields, fostering commitment to a life informed by intellectual, ethical, spiritual, and aesthetic values; to develop skills necessary for the pursuit of meaningful careers; and to inspire dedication to the ideal of service to their communities. Nazareth seeks students who want to make a difference in their own world and the world around them, and encourages them to develop the understanding, commitment, and confidence to lead fully informed and actively engaged lives. 0 0 30285589 0 73928823 Higher Education Instruction - Reflects expenses directly relating to the delivery of quality instructional programs at the undergraduate, graduate and continuing education levels. Programs of study are delivered through the College of Arts and Sciences, and Schools of Education, Management and Health and Human Services. (2569 Total Student FTE's) 21726969 0 0 Scholarship Programs: Scholarships and Grants - Reflects the competitive scholarships, need based aid, and Higher Education Opportunity grants awarded to students in order to make the total cost of attendance more affordable. (2569 Total Student FTE's) 11909104 0 14066570 Auxiliary Enterprises - Pertains to the operations of the institution that exist to furnish a service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal to, the cost of the service. Auxiliary enterprises are managed as essentially self-supporting activities. Examples are residence halls, food services, and student health services. (2569 Total Student FTE's) 17034314 0 433802 All other program expenses, includes Student Services, Academic Support and Arts Center. Student Services pertains to offices serving students including Registrar, Student Development, Center for Civic Engagement, Career Services, Enrollment Management and Center for Student Success. Athletic expenses are also reflected in this category. Academic support pertains to library services, Academic Advisement, the Center for International Education and the offices of the deans, among others. The Arts Center is a premier presenter of world-class dance, children's theatre, and international entertainment. The Arts Center houses the College's departments of Art, Music, and Theatre Arts. (2569 Total Student FTE's) 17034314 0 433802 80955976 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 4007 0 1 2169 1 1 1 1 FR SP 0 0 0 1 1 0 0 0 0 X 34 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X X Patrick E Richey 5853892021 4245 East Avenue Rochester NY 14618 Jackie Aab Trustee 2 0 X 0 0 0 Susan Acker Trustee 2 0 X 0 0 0 Jack Allocco Trustee 2 0 X 0 0 0 Jeffrey Burke Trustee 2 0 X 0 0 0 Stephen Brown Trustee 2 0 X 0 0 0 James Costanza Chair of the Board 5 0 X 0 0 0 John Drain Trustee 2 0 X 0 0 0 Emil Duda Trustee 2 0 X 0 0 0 Sergio Esteban Trustee 2 0 X 0 0 0 Timothy Fournier Trustee 2 0 X 0 0 0 Andrew Gallina Trustee 2 0 X 0 0 0 Jane Glazer Trustee 2 0 X 0 0 0 Warren Hern Trustee 2 0 X 0 0 0 Brian Hickey Trustee 2 0 X 0 0 0 Bridgette Hobart Trustee 2 0 X 0 0 0 Richard Kaplan Trustee 2 0 X 0 0 0 Cleve Killingsworth Jr Trustee 2 0 X 0 0 0 Laurie Leo Trustee 2 0 X 0 0 0 Cynthia Reddeck - Lidestri Trustee 2 0 X 0 0 0 Judy Wilmot Linehan Trustee 2 0 X 0 0 0 Elizabeth McAnarney Trustee 2 0 X 0 0 0 Kim McCluski Trustee 2 0 X 0 0 0 Mary Louise Mitchell SSJ Trustee 2 0 X 0 0 0 Robert Morgan Trustee 2 0 X 0 0 0 Stephen Natapow Trustee 2 0 X 0 0 0 Larry Peckham Trustee 2 0 X 0 0 0 Richard Pierpont Trustee 2 0 X 0 0 0 James Sessler Trustee 2 0 X 0 0 0 David Vigren Trustee 2 0 X 0 0 0 Thomas Wilmot Sr Trustee 2 0 X 0 0 0 Keith Wilson Trustee 2 0 X 0 0 0 Frank York Trustee 2 0 X 0 0 0 Mitchell Nusbaum Trustee 2 0 X 0 0 0 Daan Braveman President and Trustee 50 0 X X 382389 0 57134 Sara Varhus Vice President for Academic Affairs 50 0 X 186450 0 18989 Margaret Cass Ferber Vice President for Finance and Treasurer 50 0 X 187246 0 18959 Kelly Gagan Vice President for Institutional Advancement 50 0 X 159591 0 16349 Thomas K DaRin Vice President for Enrollment Management 50 0 X 149515 0 9209 Ian Mortimer Vice President for Enrollment Management 50 0 X 4304 0 10 Michael McGwin Vice President for Enrollment Management, Interim 50 0 X 89198 0 9152 Kevin Worthen Vice President for Student Development 50 0 X 118519 0 17125 Deborah Dooley Dean - College for Arts and Sciences 50 0 X 118200 0 16076 Jo Ellen Pinkham Assoc. VP for Human Resources 50 0 X 119995 0 12289 Shirley Szekeres Dean for Health and Human Services 50 0 X 112512 0 18863 Ronald Netsky Professor and Chairperson for Art 50 0 X 113808 0 16853 Trina Marquez Associate Vice President for Campus Operations 50 0 X 110693 0 18915 1852420 0 229923 43 0 1 0 Chartwells Dining Services 91337 Collections Dr Chicago IL 60693 Food Service- Includes the price of food as it is not separately invoiced 2907374 Sodexo Inc 220 Washington Ave Ext Albany NY 12203 Facilities Management 3279629 LeChase Construction LLC 300 Trolley Blvd Rochester NY 14606 Construction Contractor 728928 SWBR Architects 387 East Main Street Rochester NY 146042197 Building Architects 418222 John W Danforth 300 Colvin Woods Pkwy Tonawanda NY 14150 Mechanical Contractor 494316 14 0 0 5862 0 1978203 11067481 6231249 13051546 Tuition and Fees 611310 73928823 73928823 0 0 Room and Board 611310 13265261 0 0 13265261 Public Services 611310 433802 0 37985 395817 0 0 0 0 87627886 1113545 0 0 1113545 0 0 0 0 0 0 0 0 116725 0 0 0 116725 0 116725 0 0 116725 6442573 3100 1806390 44047 4636183 -40947 4595236 0 0 4595236 48153 5862 22807 25346 0 25346 Health Center Fees , Reserved and Student Parking 611710 384744 0 0 384744 Commissions 900099 134255 0 0 134255 Overhead Reimbursement 900099 15329 0 0 15329 1400234 0 47336 1352898 1934562 108464846 73928823 85321 21399156 0 0 21133538 21133538 617066 617066 0 0 1437921 762972 442950 231999 0 0 0 0 29947952 25653111 3772241 522600 2131800 1842779 252569 36452 4098734 3461885 544477 92372 2332242 1966707 310762 54773 0 0 0 0 138532 0 138532 0 116699 0 116699 0 0 0 0 0 86163 86163 334944 0 334944 0 604410 407530 196299 581 1083024 582673 499287 1064 4637774 3496934 1055159 85681 1029715 182115 843989 3611 0 0 0 0 5233953 4815237 355909 62807 604493 519111 62270 23112 0 0 0 0 211899 158137 41046 12716 2117226 1947848 143971 25407 0 0 0 0 7562123 6957154 514224 90745 611907 588782 23125 0 Food Service 3491058 3370751 95667 24640 Academic Course Waivers 655465 629037 21640 4788 Study Abroad Expenses 295525 295525 0 0 Other Expenses 2784790 1567084 1184819 32887 0 93298953 80955976 10950579 1392398 2800000 0 24183349 29695557 4191179 8221324 2534756 2407304 0 0 0 0 1611281 1530963 0 0 835502 667532 221269584 91650873 128198662 129618711 37740790 45011743 19784593 22670344 0 0 0 0 3359522 3231108 225239634 243054586 8491031 9327071 0 0 1648132 1474215 49223075 47052557 0 0 0 0 0 0 0 0 12738477 13021896 72100715 70875739 X 124802757 138571380 12852272 17625180 15483890 15982287 153138919 172178847 225239634 243054586 X 15165893 3946512 0 0 0 -72477 X 0 1 X 1 1 1 X 7601068 7611605 8732903 5607734 13051546 42604856 0 0 0 0 0 0 0 0 0 0 0 0 7601068 7611605 8732903 5607734 13051546 42604856 4543178 38061678 1059109 1107731 995205 1040037 895381 5097463 24982 49180 48072 79375 82321 283930 2157610 1517649 1348224 1450902 1912572 8386957 56373206 361466039 0.67517 0 X Schedule A, Part II, Line 10 Other income consists of gross income from fundraising (not including contributions reported on Line 1), commissions, other income not reportable on Schedule A Part II Lines 1 - 9. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 494 1 523 0 1017 0 Schedule C, Part II-B, Line 1 The College is a member of a regional chamber of commerce whereas 10% of their activities engage in state and federal lobbying. In addition, the President as well as an additional staff member averaged 5 hours in fiscal year 2014 engaged in lobbying activities for the College. These activities included phone conversations and meetings with legislators and other government officials, seeking federal and state aid for Nazareth College initiatives. 59858988 1697216 9237023 893094 2063478 0 67836655 55593630 617485 6385901 664408 2073620 0 59858988 56885668 1422126 280725 534199 2058289 402401 55593630 48786820 696942 10285855 669252 2214697 0 56885668 45613341 437160 5483328 537847 1996424 212738 48786820 0.654 0.346 0 0 0 8232974 0 8232974 95540987 0 31810281 63730706 0 0 0 0 41072719 0 29292829 11779890 76422904 0 30547763 45875141 129618711 15931384 F 6738960 F 22670344 0 Accrued Postretirement Benefit Costs 9713561 Asset Retirement Obligation 1981004 Government Loan Program Refundable advances 1327331 13021896 X 90413199 3946512 0 0 -21726969 -17780457 108193656 334944 -63754 271190 108464846 71294691 0 0 0 57651 57651 71237040 0 22061913 22061913 93298953 Schedule D, Part V, Line 4 The spending from assets held for endowment and similar purposes are used to support the College's operating budget, academic programs and provide scholarships. Schedule D, Part X, Line 2 The Internal Revenue Service has determined and informed the College by a letter dated June 8, 1973 that the College is generally exempt from tax on related income, under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3). Management does not believe that any circumstances arising after the date of the Internal Revenue Service determination letter will affect the tax exempt status of the College. The College recognizes the effect of income tax provisions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that it greater than 50% likely realized. Changes in recognition or measurement are reflected in the period in which the change in judgement occurs. The College believes it has no significant uncertain tax positions. Schedule D, Part XI, Line 2d This amount represents the amount of scholarships and grants awarded to the College's students. Schedule D, Part XI, Line 4b This amount represents loss on disposal of $40,947 and direct fundraising expenses of $22,807 Schedule D, Part XII, Line 2d This amount represents loss on disposal of fixed assets of $40,947, direct fundraising expense of $22,807 and the change in charitable annuities of $-6,103. Schedule D, Part XII, Line 4b This amount represents scholarships and grants of $21,726,969 and investment fees of $334,944. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The College uses its website as a means of publicizing its non-discriminatory policy. The College believes that notices such as this, previously published in the newspaper, are more effectively communicated through the use of its website, highly visible and frequented by students. Schedule E, Part I, Line 6 The College receives funding from the US Department of Education for the Federal Supplemental Educational Opportunity Grant, Federal Work Study, Federal Pell Grant Program, and TEACH Grants. New York State funds various programs such as: Higher Educational Opportunity Program, Teachers Opportunity Corp., Eisenhower Grant, NYS TAP, NYS Excellence, and NYS Lottery and State appropriations in the form of Bundy Aid and High Needs Nursing Aid. 1 East Asia and the Pacific 0 12 Grantmaking Awarded Financial Aid 153070 Europe (including Iceland and Greenland) 0 7 Grantmaking Awarded Financial Aid 99090 Middle East and North Africa 0 6 Grantmaking Awarded Financial Aid 96131 North America (including Canada and Mexico, but not the United States) 0 5 Grantmaking Awarded Financial Aid 48950 Russia and the newly independent States 0 2 Grantmaking Awarded Financial Aid 26041 South America 0 3 Grantmaking Awarded Financial Aid 56532 South Asia 0 6 Grantmaking Awarded Financial Aid 69543 Sub-Saharan Africa 0 3 Grantmaking Awarded Financial Aid 44074 East Asia and the Pacific 0 1 Program Services Graduate Tuition Assistantship 3192 Europe (including Iceland and Greenland) 0 1 Program Services Graduate Tuition Assist 4788 Middle East and North Africa 0 3 Program Services Graduate Tuition Assistantship 15655 0 49 617066 Financial Aid East Asia and the Pacific 12 153070 Credit on the students' tuition bill 0 Fair Market Value Financial Aid Europe (including Iceland and Greenland) 7 99090 Credit on the students' tuition bill 0 Fair Market Value Financial Aid Middle East and North Africa 6 96131 Credit on the students' tuition bill 0 Fair Market Value Financial Aid North America (including Canada and Mexico, but not the United States) 5 48950 Credit on the students' tuition bill 0 Fair Market Value Financial Aid Russia and the newly independent States 2 26041 Credit on the students' tuition bill 0 Fair Market Value Financial Aid South America 3 56532 Credit on the students' tuition bill 0 Fair Market Value Financial Aid South Asia 6 69543 Credit on the students' tuition bill 0 Fair Market Value Financial Aid Sub-Saharan Africa 3 44074 Credit on the students' tuition bill 0 Fair Market Value 0 0 0 0 0 0 Schedule F, Part I, Line 2 International students receiving scholarships are coded separately in the College's ERP system. A report is generated from the College's ERP system detailing each student and their specific awards. This report is reviewed periodically to monitor funds. X X X X X X X 1 RuffaloCODY PO Box 3018 Cedar Rapids IA 52406 Managed the college phonathon solicitations. 0 0 61750 -61750 The Solstice Group 120 Brindley St Ste 7 Ithaca NY 14850 Campaign consultant 0 0 24413 -24413 0 86163 -86163 NY Athletics Golf Tournament 40590 4660 35930 0 0 6915 6255 0 340 School of Management Golf Tournament 13425 1202 12223 455 80 3970 3638 0 1154 0 54015 5862 48153 455 80 10885 9893 0 1494 22807 25346 1 Competitive scholarships 1963 15287101 0 Grants in aid 1786 4634346 Higher Education Opportunity Program (HEOP) 53 1212091 Schedule I, Part I, Line 2 All College scholarships and grants are awarded through the financial aid process and are recorded as credits on the students' invoices. These awards help to offset the cost of tuition, fees and room and board. The scholarships and grants are tracked in the College's ERP system and monitored for compliance within the financial aid office to comply with internal and external regulations. X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Daan Braveman President and Trustee 290974 0 0 0 91415 0 50268 0 6866 0 439523 0 0 0 Sara Varhus Vice President for Academic Affairs 184890 0 0 0 1560 0 18616 0 373 0 205439 0 0 0 Margaret Cass Ferber Vice President for Finance and Treasurer 185686 0 0 0 1560 0 18586 0 373 0 206205 0 0 0 Thomas K DaRin Vice President for Enrollment Management 146653 0 0 0 2862 0 8836 0 373 0 158724 0 0 0 Kelly Gagan Vice President for Institutional Advancement 158031 0 0 0 1560 0 15976 0 373 0 175940 0 0 0 Schedule J, Part I, Line 1a In compliance with Board policy requiring justification for business purpose of expenditures, the College President was provided with travel for his wife in the amount of $160. The President also received a housing allowance in the amount of $55,008 and gross-up payments in the amount of $1,408 related to the statutory benefit obligations. Schedule J, Part I, Line 3 The Compensation Sub-Committee, a sub-committee of the Executive Committee of the Board of Trustees, meets annually to review the President's performance as compared to the goals set forth for him from the previous fiscal year. As needed, the Sub-Committee engages an independent consultant to provide competitive market data from comparable institutions and to recommend changes to the President's base salary level and/or benefits offerings. The Compensation Sub-Committee's recommendations are submitted to the Executive Committee for review and endorsement. Once approved by the Executive Committee, the recommendations are considered and voted on by the full Board of Trustees in executive session. Schedule J, Part I, Line 4 Thomas Darin received a retirement buyout in the amount of $58,531 in calendar year 2013. A Monroe County Industrial Development Corporation 510188852 61075TBE7 2011-08-04 23765000 New construction of a building and refunding of 2004B Bonds 0 0 0 B County of Monroe Industrial Development Agency 161005429 610752EK9 2008-01-30 9030000 To finance construction of a building and site improvements 0 0 0 C Monroe County Industrial Development Corporation 510188852 61075TFT0 2013-06-13 13905000 Refunding of Series 2001 1 0 0 A 2110000 0 23542430 0 931722 0 647870 0 0 15000000 0 0 2012 0 0 1 1 B 1165000 0 9030000 0 0 0 335820 0 0 8567632 126548 0 2009 0 0 1 1 C 465000 0 14625806 0 0 0 448626 0 0 0 518 0 2013 1 0 1 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 1 1 JP Morgan Chase Bank 30 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 Schedule K, Part II, Line 3-08/04/2011 23,765,000 Monroe County Industrial Development Corporation Bond Issues A and C, as referenced in Schedule K Part I, each disclose an issue price (Part I, e) that differs from the proceeds of issue (Part II, line 3) equal to that of the discount or premium associated with the issue. Schedule K, Part V-08/04/2011 23,765,000 Monroe County Industrial Development Corporation Currently the College does not have a written policy in place; however there are procedures being followed to ensure compliance. Schedule K, Part V-01/30/2008 9,030,000 County of Monroe Industrial Development Agency Currently the College does not have a written policy in place; however there are procedures being followed to ensure compliance. Schedule K, Part V-06/13/2013 13,905,000 Monroe County Industrial Development Corporation Currently the College does not have a written policy in place; however there are procedures being followed to ensure compliance. Brian Hickey Trustee/Executive Vice President for M&T Bank 3946704 Bond principal/interest payments, cash for office operations, bank fees 0 X 21 550568 FMV X Pledges 44 5680681 NPV 0 0 1 1 Schedule M, Part I, Line 9 The College records each contribution of securities as a single gift (rather than each share received). Schedule M, Part I, Lines 25-28 The College reports outstanding current pledges each as a separate contribution. Schedule M, Part I, Line 32b The College maintains an annual service contract with a 3rd party, The Solstice Group, which provides comprehensive fundraising consulting services including campaign support, counsel, training and development services. Form 990, Part VI, Section A, Line 1a The Executive Committee composition consists of the Chair and Vice Chair of the Board of Trustees, the President of the College, and no fewer than two and no more than four Trustees elected by the Board of Trustees. The Executive Committee shall serve for a term of one year and until their successors are elected and qualified. All Committee members are on the governing board. Scope of Authority - The Committee shall have the power to act when the Board is not in session, and may exercise all the powers of the Board in all matters which in the judgment of the Executive Committee should not be delayed until the next meeting of the Board. The Executive Committee shall make a formal report of its actions, if any, to the Board at its next regular meeting. Form 990, Part VI, Section A, Line 2 Judy Wilmot Linehan and Thomas Wilmot have a family relationship Form 990, Part VI, Section A, Line 8a The College documents meetings held and/or written actions undertaken during the year by both the governing body and the committees with authority to act on behalf of the governing body. Such minutes are reviewed and subsequently submitted to the governing body and its committees for record. Form 990, Part VI, Section B, Line 11b The Audit Committee, a sub-committee of the governing body, reviewed the 2013 Form 990 in detail prior to its filing. The minutes of the Audit Committee meeting summarized this review, and were distributed to all trustees. Form 990, Part VI, Section B, Line 12c The College annually distributes the conflict of interest policy to the trustees, officers, the assistant secretary to the Board and the Secretary to the College. The information received is compiled, analyzed, maintained and monitored by the College's general counsel. All results are forwarded to the College's President, Vice President for Finance and Administration, and the Assistant Secretary to the Board. Form 990, Part VI, Section B, Line 14 The College currently does not have a an adopted document retention and destruction policy; however a draft has been updated and is currently under review. Form 990, Part VI, Section B, Line 15 The Compensation Sub-Committee, a sub-committee of the Executive Committee of the Board of Trustees, meets annually to review the President's performance as compared to the goals set forth for him from the previous fiscal year. In addition, the Sub-Committee's recommendations are submitted to the Executive Committee for review and endorsement. Once approved by the Executive Committee, the recommendations are considered and voted on by the full Board of Trustees in executive session. Compensation levels for the Vice Presidents of the College are determined annually by the President, with review and endorsement from the Executive Committee of the Board. Inputs include performance to annual goals, an overall assessment of significant contributions to and leadership of the College, as well as competitiveness of pay relative to comparable institutions. On a periodic basis, an independent consultant is engaged to review for each Vice President, to provide competitive market information, and to recommend adjustments for consideration by the President and Executive Committee. Form 990, Part VI, Section C, Line 19 The College makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part XI, Line 9 This amount represents the change in charitable annuities, the unrealized gain on swap agreements and the change in the cash surrender value of life insurance policies.