2014-02-14T09:31:04-06:00 2013-06-30 132871428 FUNARO & CO PC 350 FIFTH AVE 41ST FLR NEW YORK NY 10118 990 2012-07-01 237075717 FRANKLIN UNIVERSITY SWITZERLAND INC FRAN 2129229650 420 LEXINGTON AVENUE NO 2746 NEW YORK NY 10170 PASCAL TONE 2129229650 2014-02-07 1 PHILIP NG P00478282 2129473333 2012 2015-11-30 17:44:51Z PASCAL TONE 420 LEXINGTON AVENUE NEW YORK NY 10170 25545354 0 X WWW.FC.EDU X 1970 DE FRANKLIN COLLEGE IS A NONPROFIT ORGANIZATION WHOSE OBJECTIVE IS TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 25 0 10 0 0 0 1669760 558239 24215526 24285097 52759 44065 857797 657953 26795842 25545354 4079254 4851696 0 0 2143158 2313251 0 0 685462 22970108 19850386 29192520 27015333 -2396678 -1469979 38819222 37441726 27221400 28261558 11597822 9180168 FRANKLIN COLLEGE IS A NONPROFIT ORGANIZATION WHOSE OBJECTIVE IS TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 0 0 19833038 4851696 657953 OPERATIONS OF A FOUR YEAR ACCREDITED COLLEGE WITH AN AVERAGE ENROLLMENT OF 395 STUDENTS 19833038 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 1 10 0 0 1 SZ 0 0 0 0 0 0 X 25 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X PALMETTO MOLLO MOLINARO & SCIACCA 6317618989 91 BROADHOLLOW ROAD MELVILLE NY 11747 DR ERIK O NIELSEN 40.00 X X 400289 0 0 DR OTTO A KALETSCH 0.00 X 0 0 0 DR FRANK M DWIGGINS 0.00 X 0 0 0 LORRAINE GRACE 0.00 X 0 0 0 DR WILLEM PEPPLER 0.00 X 0 0 0 DENISE H ALFELD 0.00 X 0 0 0 DR JOHN S BAILEY 0.00 X 0 0 0 LAURENT BELET 0.00 X 0 0 0 RICHARD H BELL II 0.00 X 0 0 0 JENNIFER BERG 0.00 X 0 0 0 TIMOTHY DARRIN 0.00 X 0 0 0 ANGELA W FOWLER 0.00 X 0 0 0 LUCIUS L FOWLER 0.00 X 0 0 0 PAOLO GRASSI 0.00 X 0 0 0 KIM HILDEBRANT 0.00 X 0 0 0 NINA KALETSCH 0.00 X 0 0 0 DEIRDRE KINNEY-BRENNAN 0.00 X 0 0 0 B JOHN LINDAHL JR 0.00 X 0 0 0 PAUL C LOWERRE 0.00 X 0 0 0 KEVIN W MCNEELY 0.00 X 0 0 0 MARGARET OSMER MCQUADE 0.00 X 0 0 0 SCOTT I OAKFORD 0.00 X 0 0 0 TOMMIE PEGUES 0.00 X 0 0 0 DR FULVIO PELLI 0.00 X 0 0 0 PHILIP RENAUD 0.00 X 0 0 0 JOHN READ TAYLOR 0.00 X 0 0 0 PASCAL F TONE 0.00 X 0 0 0 JAY TUCKER 0.00 X 0 0 0 DR P GREGORY WARDEN 40.00 X X 212766 0 0 CABELL GOOLSBY WEST 0.00 X 0 0 0 DR TOMASO RIZZI 40.00 X 156915 0 0 ROBERT PALLONE 40.00 X 176064 0 0 CALHOUN ALLEN 40.00 X 138830 0 0 ARMANDO ZANECCHIA 40.00 X 141702 0 0 PAMELA ADAMS 40.00 X 117021 0 0 SARA STEINERT-BORELLA 40.00 X 130851 0 0 SANJA DUDUKOVIC 40.00 X 124787 0 0 ROBERT GEBHARDT 40.00 X 127660 0 0 MORRIS MOTTALE 40.00 X 135851 0 0 ANDREA TERZI 40.00 X 131915 0 0 1994651 0 0 12 0 1 0 COLT TELECOMMUNICATIONS MURTSCHENSTRASSE 27 ZURICH SZ 6864 TELECOMMUNICATIONS 159687 KPMG VIA BALESTRA 33 LUGANO SZ 6901 AUDIT 149282 GUFFANTI G VIA RICCARDO ROSSI 15 ARZO SZ 6864 CLEANING SERVICES 128128 3 558239 558239 TUITION, ROOM & BOARD 611710 16559487 16559487 AUXILIARY ENTERPRISES 611710 5689622 5689622 EDUCATIONAL ACTIVITIES 611710 2035988 2035988 24285097 44065 44065 OTHER OPERATING REVENUE 611710 267529 267529 UNREALIZED GAINS 611710 196372 196372 APPRECIATION OF ENDOWMENT INVESTM 611710 194052 194052 657953 25545354 657953 0 24329162 X 4851696 4851696 659953 659953 748936 748936 904362 904362 1538929 1538929 INSTRUCTION 5952822 5952822 AUXILIARY ENTERPRISES E 4477963 4477963 STUDENT SERVICES 2633022 2633022 INSTITUTIONAL SUPPORT 1924251 1238789 685462 3323399 1304529 2018870 27015333 19833038 6496833 685462 2749434 2140769 402000 1295049 2109432 1877502 123423 132185 118750 163830 555714 563653 46579370 18961005 28361448 27618365 1508063 709681 98453 115093 2792505 2825599 38819222 37441726 378394 148855 22726042 22946277 4116964 5166426 27221400 28261558 X 4522090 2703222 4159659 5535716 2916073 941230 11597822 9180168 38819222 37441726 -1469979 -196372 -751303 0 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14300 372000 X 0 3702133 32850 39175 47680 3726478 3929380 102023 51591 380861 3702133 2186966 1855355 20 112961 3929380 2467475 108146 33372 20000 2588993 548933 1894731 23811 2467475 0 0 7421917 7421917 31443904 13162454 18281450 7341549 5798551 1542998 372000 372000 27618365 CHARITABLE REMAINDER UNITRUST 174090 CONSTRUCTION IN PROGRESS 1726228 RESTRICTED CASH 829239 DEFERRED TAX ASSET 96042 2825599 TUITION & ROOM DEPOSITS 1485198 PENSION BENEFITS 1249716 DEFERRED TAX - SHORT TERM 125761 OTHER CURRENT PAYABLES 1458993 OTHER NONCURRENT PAYABLES 612455 FOREIGN CURRENCY CONTRACTS 234303 5166426 X 20497286 -4851696 -4851696 25348982 196372 196372 25545354 22163637 0 22163637 4851696 4851696 27015333 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: PART X, LINE 2: FINANCIAL STATEMENTS - FOOTNOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BEGINNING WITH THE ADOPTION OF FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, INCLUDED IN FASB ASC SUPTOPIC 740, INCOME TAXES, AS OF JULY 1, 2009, FRANKLIN 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 PERCENT LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. PRIOR TO THE ADOPTION OF FIN 48, FRANKLIN COLLEGE RECOGNIZED THE EFFECT OF INCOME TAX POSITIONS ONLY IF SUCH POSITIONS WERE PROBABLE OF BEING SUSTAINED. UPON ADOPTION AND THROUGH JUNE 30, 2012, FRANKLIN COLLEGE RECORDED NO LIABILITY FOR UNCERTAIN TAX POSITIONS, AS ALL OF ITS TAX POSITIONS WERE CONSIDERED HIGHLY CERTAIN OF BEING RECOGNIZED FOR INCOME TAX PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS -4,851,696. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED GAIN 196,372. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 4,851,696. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 FRANKLIN'S DISCRIMINAION POLICY IS INCLUDED ON ITS WEBSITE AS WELL AS IN ITS ACADEMIC CATALOG WHICH IS DISTRIBUTED UPON REQUEST. IT STATES "FRANKLIN COLLEGE DOES NOT DISCRIMINATE IN ITS ADMISSION AND FINANCIAL AID POLICIES AND PRACTICES ON THE BASIS OF FACTORS SUCH AS RACE, SEX, SEXUAL ORIENTATION, AGE, COLOR, RELIGION OR REGIONAL ORIGIN." 0 SWITZERLAND 1 114 PROGRAM SERVICES EDUCATION 7751473 1 114 0 0 1 114 7751473 0 7751473 FINANCIAL AID SWITZERLAND 189 1820040 CREDIT TO ACCOUNT N/A N/A MERIT AWARDS SWITZERLAND 265 2688567 CREDIT TO ACCOUNT N/A N/A FLY FREE AWARDS SWITZERLAND 79 120232 CREDIT TO ACCOUNT N/A N/A CCIS SWITZERLAND 7 60833 CREDIT TO ACCOUNT N/A N/A INSTITUTIONAL AGREEMENTS SWITZERLAND 1 42709 CREDIT TO ACCOUNT N/A N/A LIFE LONG LEARNING SCHOLARSHIPS SWITZERLAND 137 160315 CREDIT TO ACCOUNT N/A N/A 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: STUDENT RECIPIENTS OF SCHOLARSHIPS AND MERIT AWARDS ARE SELECTED BY THE UNIVERSITY BASED ON A NUMBER OF QUALIFICATIONS INCLUDING: FOR FINANCIAL AID, A STUDENT MUST DEMONSTRATE A FINANCIAL NEED BASED ON THE STUDENT'S FAFSA. THE STUDENT'S GPA IS ALSO CONSIDERED AND MUST BE AT LEAST 2.5. OTHER AWARDS REQUIRE A GPA OF AT LEAST 2.8. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 DR ERIK O NIELSEN 400289 0 0 0 0 0 0 0 0 0 400289 0 0 0 DR P GREGORY WARDEN 212766 0 0 0 0 0 0 0 0 0 212766 0 0 0 DR TOMASO RIZZI 156915 0 0 0 0 0 0 0 0 0 156915 0 0 0 ROBERT PALLONE 176064 0 0 0 0 0 0 0 0 0 176064 0 0 0 SUPPLEMENTAL INFORMATION PART III PART I, LINE 1A - THE PRESIDENT, AS WELL AS HIS WIFE, ARE ENTITLED TO FIRST-CLASS TRAVEL FOR THOSE TRIPS CONSIDERED FOR THE BENEFIT OF THE INSTITUTION. ALSO, HE IS ENTITLED TO A HOUSING ALLOWANCE FOR HOUSING WHICH IS IN CLOSE PROXIMITY TO THE CAMPUS. COMPENSATION AND SOME BENEFITS ARE TAXABLE UNDER LOCAL SWISS LAW, HOWEVER, BOTH ITEMS INDICATED ABOVE ARE NOT CONSIDERED TAXABLE COMPENSATION AND THEREFORE, NO TREATED AS SUCH. ELLEN NIELSEN WIFE OF FORMER PRESIDENT 13680 FURNISHED CONSULTING SERVICES RELATED TO PRINITING AND PUBLISHING 0 X 6 156217 MARKET VALUE 0 1 1 FORM 990, PART VI, SECTION A, LINE 2 MR. OTTO A. KALETSCH AND MRS. NINA KALETSCH ARE BOTH TRUSTEES AND ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11 THE TAX RETURN IS MAILED TO THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION FOR REVIEW. UPON APPROVAL BY THE VP, IT IS MAILED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES FOR FOR HIS REVIEW AND ULTIMATE APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES ARE REQURIED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST POSSIBLE TIME, WHILE EMPLOYEES MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTERST TO HIS/HER IMMEDIATE SUPERVISOR, WHO IN TURN MUST INFORM THE VP OF FINANCE AND ADMINISTRATION. ADDITIONALLY, ALL CONFLICTS ON THE BOARD ARE DISCLOSED IN WRITING TO THE TRUSTEES COMMITTEE WHICH IS RESPONSIBLE FOR ISSUES OF GOVERNANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES OF THE COLLEGE HAS A STANDING COMMITTEE FOR PRESIDENTIAL COMPENSATION COMPOSED OF THE CHAIR, VICE CHAIR AND, TWO TRUSTEES WITH SUBSTANTIAL EXPERIENCE IN MATTERS OF LEADERSHIP AND EXECUTIVE COMPENSATION MATTERS. IN DETERMINING COMPENSATION, THE COMMITTEE CONSIDERS COMPARATIVE DATA FROM OTHER INSTITUTIONS, INFORMATION DISSEMINATED AT THE ANNUAL CIC CONFERENCE AND THE CHRONICLE OF HIGHER EDUCATION, SPECIAL ISSUES RELATED TO FRANKLIN'S UNIQUE LOCATION AND CORPORATE STRUCTURE, AND AN ANNUAL EVALUATION OF PRESIDENTIAL PERFORMANCE. THIS PROCESS AND ALL ITS ELEMENTS HAVE BEEN REVIEWED AND APPROVED BY THE AUDIT PARTNER OF THE FIRM AUDITING THE COLLEGE'S FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST. ALL OTHER FUNCTIONAL EXPENSES FORM 990, PART IX, LINE 24E ACADEMIC SUPPORT: PROGRAM SERVICE EXPENSES 1,304,529. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,304,529. OPERATION AND MAINTENANCE OF PLANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,202,024. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,202,024. VARIOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 816,846. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 816,846.