2015-01-15T11:23:27-06:00 2014-05-31 990 2013-06-01 237223216 SARAH LAWRENCE COLLEGE % DAVID C KLEIN CONTROLLER SARA 9143952556 1 MEAD WAY Suite BRONXVILLE NY 10708 Vincent Massaro Vice President Finance 2015-01-14 2013 2016-04-25 22:37:26Z KAREN LAWRENCE PRESIDENT 1 MEAD WAY BRONXVILLE NY 107085999 102933214 false X www.sarahlawrence.edu X 1926 NY SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OFFERING SELECT GRADUATE PROGRAMS ON ITS MAIN CAMPUS IN BRONXVILLE, NY AND 5 UNDERGRADUATE OVERSEAS PROGRAMS. SEE O. 27 25 1815 25 -7429 -42512 19521998 10212763 87497051 92650113 9961 7623 75053 62715 107104063 102933214 27684315 30086467 0 0 45521241 46272102 0 0 4405104 30944958 32407043 104150514 108765612 2953549 -5832398 197770190 199413323 83400915 80764226 114369275 118649097 X false false 75582248 28888148 67897681 Undergraduate Programs: Educational costs including instruction, academic support, financial aid, library and allocated administrative and occupancy costs for a head count enrollment of 1315 students in Bronxville, New York and 131 students in five overseas programs in London, Oxford, Paris, Florence and Havana. 5639853 1169062 6703412 Graduate Programs: Educational costs and financial aid leading to masters degrees in selected graduate programs including Writing, Theatre, Women's History, Dance, Child Development, Art of Teaching, Human Genetics, and Health Advocacy; for a total headcount of 311 students. 11181251 15366979 Auxiliary Enterprises: Operational costs consisting of student housing (housing 1083 in Bronxville and 112 in overseas programs), food service and occupancy costs of College bookstore. 1547827 29257 2682041 93951179 true true false false false false false false false true true true false false true true true false true true true false false false false false false true true true true false false false false false false false false false false true false false false false true true true false false true 374 0 true 1815 true true true true FR IT UK false false false false false false false false X 27 25 false false false false false false false true true false false false true true true true true true true false NY X DAVID C KLEIN CONTROLLER 9143952556 1 MEAD WAY BRONXVILLE NY 107085999 CAROL CHRIST TRUSTEE 1.0 X DAVID CARMEN TRUSTEE 1.0 X LAURA DONNELLEY TRUSTEE 1.0 X DAVID DULL TRUSTEE 1.0 X ELLEN SCHLOSS FLAMM TRUSTEE 1.0 X VICKI FORD TRUSTEE 1.0 X BETH-ANN FISCHER GENTILE TRUSTEE 1.0 X MARK GOODMAN VICE CHAIRPERSON 1.0 X X JOANNA HEIMBOLD TRUSTEE 1.0 X CLARION JOHNSON TRUSTEE 1.0 X JOHN LILLY TRUSTEE 1.0 X WENDY LIPP TRUSTEE 1.0 X TRACEY RIESE TRUSTEE 1.0 X NANCY MILLER MONTGOMERY TRUSTEE 1.0 X JAY PACK TRUSTEE 1.0 X RONA CARR TRUSTEE 1.0 X MICHAEL STUTZMAN TRUSTEE 1.0 X LINDA SUPINO TRUSTEE 1.0 X SARAH GRAY GUND TRUSTEE 1.0 X DAVID NETTO TRUSTEE 1.0 X RACHEL ZEBROWSKI TRUSTEE 1.0 X JOHN HILL Chair of Board 1.0 X X NANCIE COOPER VICE CHAIRPERSON 1.0 X X Karen Lawrence President 40.0 X X 369172 0 149745 CAMERON AFZAL FACULTY/TRUSTEE 1.0 X 81472 0 28680 WILLIAM GOETZMANN TRUSTEE X PETER VAN DIJK TRUSTEE X Thomas Blum VP Administration 40.0 X 165240 0 34924 Julie Auster VP of Human Resources 40.0 X 146872 0 33348 Allen Green Dean-Studies&Chief Dvrsity Ofc 40.0 X 155244 0 82097 Jerrilyn Dodds Dean of the College 40.0 X 213057 0 62679 Charles Rasberry Vice President for Advancement 40.0 X 252024 0 43639 Gerald Schorin VP Communications & Marketing 40.0 X 150318 0 47195 Vincent Massaro VP Finance&Operations 40.0 X 266667 0 25197 Mary Beth Carey Dean of Admissions/Enrollment 40.0 X 106683 0 12708 Sean Jameson Director Information Systems 40.0 X 149374 0 33505 Ellen Reynolds Associate VP Advancement 40.0 X 153803 0 13519 Joseph Woolfson Professor 40.0 X 231467 0 18541 Shirley Kaplan Professor 40.0 X 144716 0 20174 Daniel Kaiser Professor 40.0 X 135142 0 19594 2721251 0 625545 65 false true false AVI Fresh 2920 Elm Road NE WARREN OH 44483 Food Service 4916676 ABM Janitorial Services 551 Fifth Ave Suite 300 NEW YORK NY 10176 janitorial service 1060684 Flora Landscapes Ltd PO Box 654 BRONXVILLE NY 10708 Landscaping 678934 Alda Building Company LLC 128 Norman Avenue BROOKKLYN NY 11222 Construction Service 496986 Royall Company 1920 E Parham Road RICHMOND VA 23228 Recruitment services 459536 32 415284 9797479 388980 10212763 UNDERGRADUATE TUITION AND FEES 611600 67897681 67897681 GRADUATE TUITION AND FEES 611600 6703412 6703412 AUXILIARY ENTERPRISES 611710 15366979 15366979 OTHER EDUCATION PROGRAMS 611600 2682041 2682041 92650113 7623 -7429 194 0 0 55500 55500 0 55500 55500 0 0 0 0 STUDENT LOAN INTEREST 900099 7215 7215 7215 102933214 92650113 -7429 62909 30086467 30086467 0 0 0 2219864 646148 1266857 306859 0 32725894 27587635 2874555 2263704 1992966 1661699 196822 134445 7000441 5579383 927831 493227 2332937 1865602 299624 167711 0 89579 89579 199840 199840 0 0 103388 103388 1370491 895244 396541 78706 411617 411617 1274564 708238 402336 163990 801731 801731 0 5147438 4767043 316567 63828 527542 389297 28861 109384 0 134984 110192 21818 2974 3427836 3174519 210812 42505 0 4136914 3605071 507649 24194 583032 539946 35856 7230 FOREIGN PROGRAM COSTS 5198140 5198140 CONTRACTED FOOD SERVICE COSTS 3628274 3628274 RESTRICTED FUNDS EXPENSES 1101706 874184 227522 BUILDING REPAIR & RENOVATION 767608 710882 47208 9518 3502359 1923215 1042315 536829 108765612 93951179 10409329 4405104 0 0 9518291 9426922 14872607 11365298 230996 211603 0 0 0 0 1067022 1011400 0 0 1770740 1121769 125694650 41289364 84445084 84405286 0 0 82191742 88718105 0 0 0 0 3673708 3152940 197770190 199413323 7319960 7218997 0 0 3419650 3343205 43500000 43500000 0 0 0 0 3088762 4050294 7500000 3500000 18572543 19151730 83400915 80764226 X 44330577 40691946 13025275 17650507 57013423 60306644 114369275 118649097 197770190 199413323 X -5832398 10580730 -468510 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75768291 6550543 10581224 1141771 4441103 103388 87213796 66016091 5920539 10459314 1080349 5430773 116531 75768291 74591964 1685381 -4141977 1095784 4918030 102463 66019091 66803789 1810714 12483613 1208248 5196378 101526 74591964 58990582 2228330 9256316 1324769 2238290 108380 66803789 0.43100 0.56900 false false 5830155 5830155 109879823 36227565 73652258 9984672 5061799 4922873 0 0 0 84405286 FIXED INCOME FUNDS 4716561 F GLOBAL EQUITY FUNDS 46730875 F HEDGED EQUITY FUNDS 1736630 F RELATIVE VALUE&EVENT-DRIVEN FD 4828039 F REAL ASSETS FUNDS 5915910 F PRIVATE EQ.& VENTURE CAP FUNDS 16806693 F L-T SPLIT-INTEREST STRATEGIES 2703815 F ALPHA PORTFOLIO SEGREGATED FND 4286371 EQUITY MRKT NEUTRAL SEGRET FND 993211 88718105 0 INTEREST RATE SWAP LIABILITY 7236100 ANNUITIES PAYABLE 2184784 US GOV'T GRANTS REFUNDABLE 996586 POSTRETIREMENT HEALTH&LIFE INS 8349720 ASSET RETIREMENT OBLIGATION 384540 19151730 82966661 10580730 -357428 10223302 72743359 103388 30086467 30189855 102933214 77715503 -623782 -236472 -860254 78575757 103388 30086467 30189855 108765612 SUPPLEMENTAL INFORMATION PART V LINE 4 THE COLLEGE'S INTENDED USE OF THE ENDOWMENT FUNDS IS FOR ACADEMIC PROGRAMS, LIBRARY ACQUISITIONS, SCHOLARSHIPS AND FELLOWSHIPS, AND FACULTY SALARIES. PART XI LINE 2D CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $173,777, LOSS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST ($531,205) PART XI LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $30,086,467 PART XII LINE 2C WRITE OFF OF CONSTRUCTION EXPENDITURE ($623,782). PART XII LINE 2D CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $236,472. PART XII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $30,086,467. SCHEDULE D, PART X, FIN 48 The College follows the FASB's accounting guidance Topic 740, "Accounting for Uncertainty in Income Taxes", which clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This section provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The College is exempt from income tax under IRC Section 501(c)(3), though it is subject to tax on income unrelated to its exempt purposes, unless that income is otherwise excluded by the Code. The tax years ending May 31, 2011, 2012, 2013 and 2014 are still open to audit for both federal and state purposes. true true true true true true true false false false false false false false false true false true Schedule E Part I Line 3 NON-DISCRIMINATORY POLICY NON-DISCRIMINATORY POLICY REGARDING STUDENT ADMISSIONS AND EMPLOYMENT POLICIES ARE ON THE COLLEGE'S PUBLIC WEBSITE AT WWW.SARAHLAWRENCE.EDU. NON-DISCRIMINATORY POLICIES ARE ALSO PRINTED IN STUDENTS ADMISSIONS APPLICATION, STUDENTS HANDBOOK, COLLEGE CATALOGUE, ETC. Schedule E Explanation for Line 6A FEDERAL CAMPUS-BASED STUDENT AID FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION. THE COLLEGE ALSO RECEIVES FUNDS FROM VARIOUS AGENCIES AS RESEARCH AND TRAINING GRANTS. Europe (Including Iceland and Greenland) 3 4 Program Services UNDERGRAD EDUCATION 4930112 Central America and the Caribbean 2 Program Services UNDERGRAD EDUCATION 407239 3 6 3 6 5337351 5337351 true false false false false false Part I Line 3 Column F Amounts represent direct expenditures incurred on the accrual basis associated with the College's Study Abroad programs in England, France, Italy, and Cuba. true Scholarships & Fellowships to eligible students 1406 30086467 FMV cr. against tuition PART I, LINE 2 A LIST OF RECIPIENTS OF SCHOLARSHIPS IS ON FILE AT THE COLLEGE. THE RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS ESTABLISHED BY THE COLLEGE COMMITTEES THAT JUDGE THE APPLICANTS. THE COLLEGE HAS PROCEDURES THAT ARE DESIGNED TO ENSURE THAT INDIVIDUALS FROM THE COLLEGE QUALIFY TO RECEIVE PAYMENTS. THE COLLEGE'S FINANCIAL AID OFFICE ENSURES THAT GRANTS AND AWARDS ARE IN COMPLIANCE WITH PROCEDURES ESTABLISHED BY THE COLLEGE. X X X true true X X X false true false false false false false false false Karen Lawrence President 353560 0 0 0 15612 0 64950 0 84795 0 518917 0 0 0 Thomas Blum VP Administration 165240 0 0 0 0 0 14529 0 20395 0 200164 0 0 0 Julie Auster VP of Human Resources 146872 0 0 0 0 0 12953 0 20395 0 180220 0 0 0 Allen Green Dean-Studies&Chief Dvrsity Ofc 155244 0 0 0 0 0 13702 0 68395 0 237341 0 0 0 Jerrilyn Dodds Dean of the College 213057 0 0 0 0 0 18334 0 44345 0 275736 0 0 0 Sean Jameson Director Information Systems 149374 0 0 0 0 0 13110 0 20395 0 182879 0 0 0 Ellen Reynolds Associate VP Advancement 153803 0 0 0 0 0 13519 0 0 0 167322 0 0 0 Charles Rasberry Vice President for Advancement 252024 0 0 0 0 0 22244 0 21395 0 295663 0 0 0 Gerald Schorin VP Communications & Marketing 150318 0 0 0 0 0 13180 0 34015 0 197513 0 0 0 Joseph Woolfson Professor 231467 0 0 0 0 0 6644 0 11897 0 250008 0 0 0 Shirley Kaplan Professor 144716 0 0 0 0 0 12507 0 7667 0 164890 0 0 0 Daniel Kaiser Professor 135142 0 0 0 0 0 11927 0 7667 0 154736 0 0 0 Vincent Massaro VP Finance&Operations 266667 0 0 0 0 0 13300 0 11897 0 291864 0 0 0 Part I Line 1a -----TRAVEL FOR COMPANIONS - THE COLLEGE PROVIDES, AS CONDITION OF EMPLOYMENT, EXPENDITURE FOR TRAVEL FOR THE PRESIDENT'S SPOUSE WHEN EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS, WHILE ACCOMPANYING THE PRESIDENT IN PERFORMING HER OFFICIAL DUTIES IN THE AREAS OF DEVELOPMENT, TRUSTEE AND ALUMNI RELATIONS, AND OTHER BUSINESS OF THE COLLEGE. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE, AND THE PAYMENT TOTALS ARE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD. SUCH EXPENDITURES FOR SPOUSAL TRAVEL ARE INCLUDED IN TAXABLE COMPENSATION OF THE PRESIDENT. -----HOUSING ALLOWANCE FOR RESIDENCE OR PERSONAL USE - THE COLLEGE HOUSES THE PRESIDENT, (KAREN LAWRENCE), THE DEAN OF STUDIES AND DIVERSITY OFFICER, (ALLEN GREEN), THE DIRECTOR OF PUBLIC SAFETY, AND 4 STAFF FROM STUDENT AFFAIRS IN CAMPUS HOUSING. THE COLLEGE ALSO PROVIDES HOUSING CLOSE TO CAMPUS FOR THE DEAN OF STUDENT AFFAIRS AND THE DIRECTOR OF RESIDENTIAL LIFE. THIS HOUSING IS REQUIRED BY THE NATURE OF THEIR POSITIONS AND IS A CONDITION OF THEIR EMPLOYMENT. -----PERSONAL SERVICES - THE COLLEGE PROVIDES LIMITED PERSONAL SERVICE CONSISTING OF RESIDENCE HOUSEKEEPING FOR THE PRESIDENT. SCHEDULE J, PART I, LINE 4B -----PAYMENT FROM EQUITY-BASED COMPENSATION ARRANGEMENT- KAREN LAWRENCE, PRESIDENT, PARTICIPATED IN SECTION 457(f) PLAN WITH DEFERRED COMPENSATION OF $30,000 IN 2013. A City of Yonkers Industrial Development Agency 521294255 986083CA9 2009-12-01 44217481 CITY OF YONKERS IND. DEV AGENC false false false A 0 0 44217481 0 0 569901 0 0 0 5670179 37977301 0 true false true true A false false false false 0 true A false true false false 0 false 0 false false A false Schedule K Part I(F) THE CITY OF YONKERS INDUSTRIAL DEVLOPMENT BONDS WERE ISSUED TO CONVERT FROM VARIABLE TO FIXED RATE FOR BONDS ISSUES 5/27/04, 10/16/03, AND 6/5/01. X 34 388980 FAIR MARKET VALUE false true true PART I, LINE 32A THE COLLEGE SELLS DONATED SECURITIES THROUGH A THIRD PARTY BROKER. FORM 990, PART I, LINE 1 and PART III, LINE 1 THE MISSION AND METHOD OF SARAH LAWRENCE EDUCATION At Sarah Lawrence College, our mission is to graduate citizens of the world who are diverse in every definition of the word, who take intellectual and creative risks, and who are able to focus exceptional intellectual discipline within a framework of humanistic values and concern for community. Our unique educational practices, including unparalleled time with faculty, aim at preparing the whole student to solve problems in new ways, to cross disciplinary boundaries, and to think and act independently as they become protagonists on the world stage. FORM 990, PART III, LINE 4D OTHER PROGRAMS Other educational programs consisting of non-credit continuing education programs (with a headcount of 22 students), special non-credit courses for adults, (language, photography, swimming and fitness, etc.), writing institute classes, certificate courses, and early childhood programs. FORM 990, PART VI, SECTION B, LINE 11 990 REVIEW PROCESS The College's Controller's Office compiled financial information and prepared the 990. A draft was reviewed by Grant Thornton, an independent accounting firm. Acting for the full Board, a draft of the 990 was sent to each member of the Audit Committee and the Executive Committee of the Board to review. A final public inspection copy of the 990 was placed on the College's password-protected trustee page for access by each Board member, with e-mail notification thereto, prior to filing. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY The Secretary of the College regularly and consistently monitors and enforces the conflict of interest policy. Annually, the Trustees are sent the College's conflict of interest policy by the Secretary of the College. Compliance is acknowledged by signature and return of the signed statement. At the same time, a disclosure statement is completed in order to disclose any potential conflict of interest with the College. The policy requires disclosure of all potential conflicts of interest to the Secretary, or Chair of the Board, as soon as possible after the Trustee learns of the conflict. All disclosed potential conflicts of interest are presented to the Board with the material facts for discussion and decision for approval. The Board sets forth its basis in the minutes of the meeting in which the decision was made. FORM 990, PART VI, SECTION B, LINE 15a and 15b DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES The Executive Committee, comprised of independent Trustees, meets annually to fix the compensation of the President, the faculty Trustee, and other officers who are not Trustees. The Vice President of Human Resources meets with the Executive Committee at the end of each academic year to present objective comparative information on all officers of the College. Data is collected from 2 sets of objective comparative peer groups. The President presents to the Committee the annual evaluation and salary recommendation for each officer for the following academic year. The Committee approves the new salaries. The Committee determines and approves the President's salary. The determination is documented in the contemporaneous meeting minutes. This process was last undertaken on June 30, 2014. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS, POLICY, AND FINANCIALS The College's governing documents are available by request, the conflict of interest policy is on the College's public website, and the College's Financial Statements are made available by request. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS DECREASE IN FAIR VALUE OF INTEREST RATE SWAP LIABILITY $236,472; CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS ($173,777); LOSS NOT RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST ($531,205). Schedule R Part II Line (1) and Part V Line (2) Related Organizations Sarah Lawrence College operates several educational programs outside the United States. The program in Oxford, England required the College to set up a separate legal entity. The entity is listed in Schedule R of Form 990, as required. The program and financial information contained in this Form 990 includes the activity of the Sarah Lawrence at Oxford program since the operations are conducted as a program of the College, and is not easily separable. Sarah Lawrence at Oxford Wadham College Oxford Endland UK OX1 3PN Education UK SLC true Charitable Remainder Trusts (18) N/A NA T false false true false false false false false false false false false false false true false false false Charitable Remainder Unitrust (c) 39452 FMV Sarah Lawrence at Oxford (p) 1178527 COST