2015-07-08T17:06:11-05:00 2014-08-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2013-09-01 110461385 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY VAUG 7184296600 8601 23RD AVENUE EAST ELMHURST NY 11369 ROBERT G WALDMANN VP FINANCE & BUSINESS SERVICES 7184296600 2015-07-08 1 ROBERT R LYONS CPA P00227472 2125038800 2013 2016-02-25 16:41:14Z SHARON DEVIVO 8601 23RD AVENUE EAST ELMHURST NY 11369 55284057 0 X WWW.VAUGHN.EDU X 1932 NY VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY PROVIDES A CULTURE OF EXCELLENCE IN WHICH RIGOROUS DEGREE, PROFESSIONAL, TECHNICAL AND CERTIFICATION PROGRAMS ARE OFFERED. THESE PROGRAMS, BUILT UPON OUR AERONAUTICAL HERITAGE, WILL INCORPORATE THE LATEST TECHNOLOGY AND MEET THE UNIVERSAL NEEDS OF THE INDUSTRIES THEY SERVE. THE RESULT WILL BE WELL-EDUCATED GRADUATES WHO ARE TRAINED, QUALIFIED AND SUCCESSFUL IN THEIR FIELDS. 18 16 539 16 0 0 20119191 10760532 31197760 32214818 485528 437130 324818 396485 52127297 43808965 3746775 3969661 0 0 16701770 17167237 0 0 636035 16030728 17486046 36479273 38622944 15648024 5186021 92543599 108753716 52951753 60421519 39591846 48332197 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY IS AN INSTITUTION DEDICATED TO PROVIDING A DISTINCTIVE EDUCATION TO A DIVERSE POPULATION OF STUDENTS. OUR MISSION IS TO CREATE AN ENVIRONMENT THAT CULTIVATES PERSONAL GROWTH AND LEADERSHIP IN PREPARATION FOR SUCCESSFUL CAREERS. 0 0 30775572 3969661 30262186 INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,700 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS. 2722122 1952632 AUXILIARY SERVICES - VAUGHN OPERATES A 200 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2013/2014 APPROXIMATELY 175 STUDENTS WERE LIVING IN THE RESIDENCE HALL. . 33497694 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2538 0 539 1 0 0 0 0 0 0 0 0 0 0 X 18 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT G WALDMANN 7184296600 86-01 23RD AVENUE FLUSHING NY 11369 JOHN C FITZPATRICK PRESIDENT (FORMER) 40.00 X X 346058 0 76140 THOMAS APPERSON TREASURER 1.00 X X 0 0 0 ELAINE ASCH-ROOT TRUSTEE 1.00 X 0 0 0 SUSAN BAER VICE CHAIR 1.00 X X 0 0 0 ANNE CRUDGE SECRETARY 1.00 X X 0 0 0 JOHN H ENDERS TRUSTEE 1.00 X 0 0 0 PETER VAUGHN TRUSTEE 1.00 X 0 0 0 MONROE W HATCH JR TRUSTEE 1.00 X 0 0 0 CLYDE KIZER TRUSTEE 1.00 X 0 0 0 THOMAS S MAROTTA TRUSTEE 1.00 X 0 0 0 THOMAS J MCKEE CHAIR 1.00 X X 0 0 0 KATHERINE POSNER TRUSTEE 1.00 X 0 0 0 FRANK L ROSENBERG TRUSTEE 1.00 X 0 0 0 OSWIN MOORE TRUSTEE 1.00 X 0 0 0 DR AGAM N SINHA TRUSTEE 1.00 X 0 0 0 GEORGE A VAUGHN TRUSTEE 1.00 X 0 0 0 JOSEPH A WERNER TRUSTEE 1.00 X 0 0 0 SHARON DEVIVO PRESIDENT 40.00 X X 237340 0 35985 ROBERT G WALDMANN VP FINANCE AND BUSINESS SE 40.00 X 214345 0 32784 ERNIE SHEPELSKY VP ENROLLMENT MGT. 40.00 X 189402 0 40252 VINCENT PAPANDREA VP INSTITUTION RELATIONS 40.00 X 166863 0 24909 HOSSEIN RAHEMI PROFESSOR 40.00 X 154781 0 30054 MAXINE LUBNER PROFESSOR 40.00 X 141213 0 19284 PAUL LAVERGNE PROFESSOR 40.00 X 131912 0 39113 RAYMOND ADDABBO PROFESSOR 40.00 X 127724 0 31466 SAID LAMHAOUAR ASST VP ACADEMICS 40.00 X 144079 0 22610 1853717 0 352597 10 0 1 0 STALCO CONSTRUCTION 1316 MOTOR PARWAY ISLANDIA NY 11749 CONSTRUCTION 3199868 COOK & KRUPA LLC 81 JERICHO TURNPIKE MINEOLA NY 11501 CONSTRUCTION 2808352 AUSTIN WILLIAMS 125 KENNEDY DRIVE SUITE 100 HAUPPAUGE NY 11788 ADVERTISING 1092590 JOHN CIARDULLO ASSOCIATES 575 8TH AVENUE 20TH FL NEW YORK NY 10018 ARCHITECTURAL FEES 999720 AVIATION CAFE CORP 86-01 23RD AVE FLUSHING NY 11369 FOOD 683733 28 10646743 113789 47394 10760532 STUDENT TUITION & FEES 611710 30262186 30262186 AUXILIARY REVENUE 900099 1952632 1952632 32214818 433300 433300 11478922 11475092 3830 3830 3830 MISCELLANEOUS FEES 900099 396485 396485 396485 43808965 32214818 0 833615 3969661 3969661 1381301 878883 472096 30322 12680454 12163298 380414 136742 760481 714852 38024 7605 1356738 1275334 67837 13567 988263 928967 49413 9883 196966 196966 95700 95700 65182 65182 1532948 1170911 203694 158343 1713432 1632711 12302 68419 838002 595980 202925 39097 15760 15760 1893594 1690033 203561 574150 472407 82017 19726 70088 62872 3617 3599 2310239 2061888 248351 3204213 2859760 344453 84322 75257 9065 COLLEGE RELATIONS 1480156 1282203 49221 148732 BAD DEBT 1258060 1258060 MISCELLANEOUS 419637 419637 1733597 1646917 86680 38622944 33497694 4489215 636035 246657 1417370 1076197 1092014 1986053 2863924 376145 342249 118855234 41855961 61600027 76999273 26601014 25014028 657506 1024858 92543599 108753716 3173646 3163497 3550704 3168522 35874436 35067069 10000000 18763507 352967 258924 52951753 60421519 X 15960055 17427071 23475452 30740787 156339 164339 39591846 48332197 92543599 108753716 5186021 3554330 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3059491 8000 479602 48331 3498762 2788426 3900 326217 59052 3059491 2660584 5300 176562 54020 2788426 2482586 300 231117 53419 2660584 1142302 1302277 91705 53698 2482586 0.04700 0.95300 0 0 4527833 4527833 68807648 23738372 45069276 18117589 18117589 0 27402164 27402164 76999273 ALTERNATIVE INVESTMENTS 22294691 F AMOUNTS HELD BY BOND TRUSTEE 2719337 F 25014028 ASSET RETIREMENT OBLIGATION 114000 CAPITAL LEASE OBLIGATION 144924 258924 X 47318100 3492948 16187 3509135 43808965 0 43808965 38639131 16187 16187 38622944 0 38622944 PART V, LINE 4: TO PROVIDE FUNDS FOR STUDENT SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2014 AND 2013 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE COLLEGE IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED AUGUST 31, 2011 AND PRIOR YEARS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CATALOG SCHEDULE E, PART I, LINE 6 VAUGHN COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY (FWS) PROGRAM AND THE PERKINS LOAN PROGRAM. INDIA 0 0 INSTRUCTIONAL AIRPORT/AIRLINE MANAGEMENT; ELECTRICAL ENGINEERING TECHNOLOGY 84146 0 0 0 0 0 0 84146 0 84146 0 0 0 0 0 0 1 SCHOLARSHIPS 1202 3969661 FMV TUITION ASSISTANCE PART I, LINE 2: THE COLLEGE OFFERS SEVERAL SCHOLARSHIP OPPORTUNITIES FOR STUDENTS. THE PRIMARY SCHOLARSHIPS AND THE GUIDELINES FOR QUALIFYING ARE: FOUNDERS SCHOLARSHIPS - THESE SCHOLARSHIPS ARE AWARDED TO STUDENTS UPON ACCEPTANCE TO A BACHELOR OF SCIENCE DEGREE PROGRAM AT VAUGHN. TO BE CONSIDERED, APPLICANTS MUST ATTAIN A CUMULATIVE HIGH SCHOOL AVERAGE OF AT LEAST A "B" AND A COMBINED SAT1 SCORE OF AT LEAST 1000. STUDENTS WHO MEET THESE MINIMUM CRITERIAS WILL BE CONSIDERED FOR AWARDS, BASED ON THEIR GRADES AND EXAM SCORES, BY VAUGHN COLLEGE'S SCHOLARSHIP COMMITTEE. THE AWARDS MAY BE RENEWABLE FOR UP TO FOUR YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GRADE POINT AVERAGE (GPA). BOARD OF TRUSTEES GRANTS - THE BOARD OF TRUSTEE ALLOCATES FUNDS TO BE USED IN AWARDING GRANT-IN-AID ASSISTANCE TO NEW AND CONTINUING STUDENTS. GRANTS ARE AWARDED TO STUDENTS WHO ARE MATRICULATING ON A FULL OR PART-TIME BASIS IN BACHELOR AND ASSOCIATE DEGREE PROGRAMS. RECIPIENTS ARE SELECTED ON THE BASIS OF THEIR ACADEMIC PERFORMANCE AND FINANCIAL AID STATUS. AWARDS ARE DESIGNATED FOR A SPECIFIC ACADEMIC YEAR AND ARE RENEWABLE EACH SEMESTER BASED ON SATISFACTORY ACADEMIC PERFORMANCE AND THE AVAILABILITY OF FUNDS. TRANSFER STUDENT SCHOLARSHIP - STUDENTS WHO TRANSFER TO THE COLLEGE HAVING COMPLETED 24 OR MORE CREDITS AT AN ACCREDITED COLLEGE OR UNIVERSITY, AND WHO HAVE ACHIEVED A CUMULATIVE GRADE POINT AVERAGE OF AT LEAST 3.0 (INCLUDING ALL COURSES AT EVERY INSTITUTION ATTENDED) MAY BE AWARDED SCHOLARSHIPS TO TRANSFER. THE AWARDS MAY BE RENEWABLE FOR UP TO THREE YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GPA. ACADEMIC EXCELLENCE SCHOLARSHIPS - ACADEMIC EXCELLENCE SCHOLARSHIPS ARE AWARDED EACH YEAR TO CONTINUING STUDENTS ON THE BASIS OF OUTSTANDING ACADEMIC ACHIEVEMENT AND SELECTION FOR ACADEMIC HONORS. THE CRITERIA APPLIED IN DECIDING ELIGIBILITY FOR THESE AWARDS INCLUDE CUMULATIVE GPA AND SATISFACTORY COMPLETION OF AT LEAST TWO SEMESTERS (29 CREDITS/UNITS OR MORE) AS A MATRICULATED STUDENT. X X X X X 0 0 0 0 0 0 0 0 0 JOHN C FITZPATRICK PRESIDENT (FORMER) 346058 0 0 0 0 0 38345 0 37795 0 422198 0 0 0 SHARON DEVIVO PRESIDENT 237340 0 0 0 0 0 0 0 35985 0 273325 0 0 0 ROBERT G WALDMANN VP FINANCE AND BUSINESS SE 214345 0 0 0 0 0 0 0 32784 0 247129 0 0 0 ERNIE SHEPELSKY VP ENROLLMENT MGT. 189402 0 0 0 0 0 0 0 40252 0 229654 0 0 0 VINCENT PAPANDREA VP INSTITUTION RELATIONS 166863 0 0 0 0 0 0 0 24909 0 191772 0 0 0 HOSSEIN RAHEMI PROFESSOR 154781 0 0 0 0 0 0 0 30054 0 184835 0 0 0 MAXINE LUBNER PROFESSOR 141213 0 0 0 0 0 0 0 19284 0 160497 0 0 0 PAUL LAVERGNE PROFESSOR 131912 0 0 0 0 0 0 0 39113 0 171025 0 0 0 RAYMOND ADDABBO PROFESSOR 127724 0 0 0 0 0 0 0 31466 0 159190 0 0 0 SAID LAMHAOUAR ASST VP ACADEMICS 144079 0 0 0 0 0 0 0 22610 0 166689 0 0 0 A NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY 132906040 649438BZ0 2006-12-21 40059248 CONSTRUCTION OF FACILITY AND REFUNDING OF PRIOR ISSUE (6/18/98) 0 0 0 A 4715000 40630938 2719337 723828 19188641 19346159 2008 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 X FOOD DONATION 5 14645 FMV X EQUIPMENT 1 12280 FMV X AIRLINE TICS. 2 10500 FMV X EMPLOYEE APPR 16 3921 FMV X TRAVEL EXPENS 1 3453 FMV X JETS TICKETS 2 1595 FMV X USE OF HOME 1 500 FMV X FRAMED PRINT 1 500 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 PETER VAUGHN IS THE NEPHEW OF GEORGE A. VAUGHN FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE AND THE BOARD REVIEW THE 990 IN DETAIL. ONCE FORMALLY APPROVED THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IN MAY 2007, A NEW BOARD OF TRUSTEES - CONFLICT OF INTEREST POLICY AND PROCEDURE WAS ADOPTED. THE POLICY AND PROCEDURE INCLUDES AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH MUST BE COMPLETED, SIGNED AND SUBMITTED BY EACH BOARD MEMBER EVERY YEAR IN MAY. THE PRESIDENT'S SECRETARY CONFIRMS RECEIPT OF THE STATEMENTS AND KEEPS THEM ON FILE. IN JULY 2009, AN OFFICERS AND MANAGEMENT STAFF CONFLICT OF INTEREST POLICY AND PROCEDURES WAS ADOPTED. THE POLICY AND PROCEDURES ALSO INCLUDES A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS COMPLETED, SIGNED AND SUBMITTED ON AN ANNUAL BASIS. THE ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES AND COLLEGE SERVICES CONFIRMS RECEIPT, REVIEWS THE FORMS AND KEEPS THEM ON FILE. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE WITH STAFF ASSISTANCE FROM THE COLLEGE'S EXTERNAL LEGAL COUNSEL. COUNSEL USES THE FOLLOWING COMPENSATION FACTORS AND SOURCES TO ASSIST THE COMMITTEE IN ITS DECISION MAKING PROCESS: COMPENSATION FACTORS - A. COMPENSATION LEVELS PAID BY SIMILAR ORGANIZATIONS B. LEVEL OF PERSON'S EDUCATION AND EXPERIENCE C. SPECIFIC RESPONSIBILITIES OF POSITION D. PREVIOUS SALARY OR COMPENSATION PACKAGE E. SIMILAR SERVICES IN THE SAME GEOGRAPHIC OR METROPOLITAN AREA F. SIMILAR NUMBER OF STUDENTS G. ANNUAL BUDGET AND/OR GROSS REVENUE/ASSETS H. NATURE OF CURRICULUM (E.G., 2 YEAR VS. 4 YEAR UNDERGRADUATE VS. GRADUATE) COMPENSATION SOURCES - A. PUBLISHED SURVEYS OF COMPENSATION AT SIMILAR INSTITUTIONS B. INTERNET RESEARCH ON COMPENSATION AT SIMILAR INSTITUTIONS C. FORMS 990 FILED BY OTHER COLLEGES AND UNIVERSITIES D. ANNUAL BUDGET OR GROSS REVENUE/ASSETS LINE 15B: THE PRESIDENT SETS THE COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. HE USES SIMILAR COMPENSATION FACTORS AND SOURCES AND ADVISES THE COMPENSATION COMMITTEE OF HIS DECISIONS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION KEEPS A COPY OF ITS IRS FORM 990 IN ITS LIBRARY FOR EXAMINATION BY THE PUBLIC. A SUMMARY OF ITS KEY FINANCIAL RESULTS IS PRINTED IN ITS MAGAZINE - ANNUAL REPORT EDITION. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.