2014-05-15T09:03:54-07:00 2013-06-30 OBrien Shortle Reynolds & Sabotka PC 54 North Main Street Rutland VT 05701 990 2012-07-01 030214106 Southern Vermont College SOUT 8024476310 982 Mansion Drive Bennington VT 05201 Karen E Gross 2014-05-15 true Thomas J Sabotka P01387968 8027738344 2012 2015-11-30 17:44:51Z 16075087 false false X svc.edu X 1929 VT Provide full-time and part-time post-secondary educational services 13 12 329 0 1810428 1721723 9820139 14044860 69522 284848 8817 4505 11708906 16055936 205099 3911032 0 6101742 6186238 0 18072 4730460 4908235 11037301 15005505 671605 1050431 16766170 17583085 9492458 9205388 7273712 8377697 Provide full-time and part-time post-secondary educational services false false 11258803 Instruction - degree and non-degree programs: Approximately 500 students attended, including full time and part time. The College's Success Program served approximately 200 students. At Commencement in May of 2013, approximately 115 degrees were conferred. Institutional financial aid, funded both with College resources and temporarily restricted contributions, was awarded to over 400 students. Historic preservation: With significant help from individuals and foundations were completed. Campus improvements included renovations to the heatlh education center, nursing & radiology, landscaping dorm pond, and significant upgrades. 11258803 true true false false false false false false false true true false false false true false true false true false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false false false 57 0 true 329 true false false false false false false true true false 0 false false false false false false false false false false X 13 12 false false false true false false false true true false false true true true true true true true false false X Claire Wurmfeld 8024476310 982 Mansion Drive Bennington VT 05201 Nancy Scattergood MD 1.00 0.00 X 0 0 0 Deborah Wiley 3.00 0.00 X 0 0 0 Ira Wagner 3.00 0.00 X 0 0 0 Alfredo Quinones-Hinojosa 1.00 0.00 X 0 0 0 Raymond D Lenoue 1.00 0.00 X 0 0 0 Carmen J Lawrence 1.00 0.00 X 0 0 0 Susan Hunter 1.00 0.00 X 0 0 0 Anita Hill 1.00 0.00 X 0 0 0 James Gozzo 1.00 0.00 X 0 0 0 John Baackes 1.00 0.00 X 0 0 0 Wallace Altes 1.00 0.00 X 0 0 0 Joan Axinn 1.00 0.00 X 0 0 0 James Beckwith 40.00 0.00 X 212283 0 4963 Karen E Gross 20.00 0.00 X 218440 0 13948 Albert Deciccio 40.00 0.00 X 110508 0 8518 541231 27429 3 false true false 0 504567 1217156 1721723 Tuition & fees 10793127 10793127 Program Support Revenue 47996 47996 Auxilliary Enterprises 3203737 3203737 14044860 284848 284848 0 0 0 0 0 0 23656 19151 4505 4505 0 16055936 14329708 4505 0 3911032 3911032 0 0 576407 576407 0 4457020 2986203 1470817 96491 64649 31842 623760 417919 205841 432560 289815 142745 0 253111 169584 83527 85925 57570 28355 0 0 6542 4383 2159 18072 18072 101749 68172 33577 526033 352442 173591 35930 24073 11857 0 417303 279593 137710 182203 122076 60127 0 49633 33254 16379 351880 235760 116120 0 517422 346673 170749 117188 78516 38672 student health insurance 72744 72744 OTHER EXPENSES/ADMIN 190690 127763 62927 Program Expense 875060 875060 Consultants 1080520 723948 356572 26230 17574 8656 15005505 11258803 3728630 18072 6000 6000 1346893 1407751 366815 413199 146344 270909 0 0 0 6915 7996 313965 742200 18730692 6515989 12336517 12214703 1718522 2031303 0 0 228968 216864 295231 272160 16766170 17583085 483037 534381 8173269 7879420 676378 286706 159774 504881 9492458 9205388 X 5098061 5770403 818808 1063196 1356843 1544098 7273712 8377697 16766170 17583085 1050431 53554 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1718522 201300 284848 173367 2031303 1510910 509000 47046 348434 1718522 1309842 9354 242788 51074 1510910 1176665 34395 148782 50000 1309842 1212941 14211 -50487 1176665 0.11810 0.76010 0.12180 false false false 483000 483000 13903357 4696400 9206957 1190466 182316 1008150 1971641 1193258 778383 1182228 444015 738213 12214703 Student deposits and deferred revenue 504881 504881 12144904 12144904 3911032 3911032 16055936 11094473 11094473 3911032 3911032 15005505 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Institutional Aid $3911032 Part XI, Line 4b Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S Institutional Aid $3911032 true true true true true true true false false false false false false false false true false true true 0 0 Educational Institutional Aid 480 3911032 FMV Grantmaker's Description of How Grants are Used Financial Aid Office follows Dept. of Education and other applicable regulations, subject to yearly A133 audit. X true true false false false false false false false false false false Karen E Gross 218440 6600 7348 232388 James Beckwith 212283 3864 1099 217246 Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. A VEDA 036024497 2011-04-04 8500000 FOR BUILDINGS AND STRUCTURES false false A 620580 8500000 170000 8287500 42500 false false true true Form 990, Part XII, Line 2c Form 990, Part XII, Line 2: Change of Oversight or Selection Process Auditor selection is the responsibility of the board of directors. Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available No documents available to the public. Form 990, Part VI, Line 15a Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Full board approved the CFO/COO being named Acting President for one year. Following that, board reviewed his current salary and added a stipend for additional duties required by the acting President. Executive Committee of the Board approved the President's leave of absence and accepted the terms from the Department of Education resulting in a salary reimbursement during the 1 year leave. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Officers and employees are asked to disclose any interests that could give rise to conflicts. Any conflicts that are disclosed are brought to the attention of Senior Leadership and/or the Chairman of the Board of Trustees. Any conflicts that are disclosed by members of the Board of Trustees are discussed by the Board to determine if a conflict exists and how to handle the conflict. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process A question and answer phone call is held with the tax preparers for the board members and senior leadership to ask questions regarding the Form 990 before the return is filed. Form 990, Part VI, Line 5 Form 990, Part VI, Line 5: Description of Material Diversion of Assets In January 2013, the auditors discovered fraudulent transactions that were perpetrated by the Chief Financial Officer (CFO)/ Chief Operating Officer (COO). The CFO/COO resigned from the College in February 2013. The fraudulent transactions included unauthorized personal purchases with the College issued credit card, diversion of funds for personal use, unauthorized increase in salary and housing allowance. A forensic audit was performed by an outside firm. Fraudulent transactions totaled $25,827 prior to July 1, 2011, $305,664 during the year ended June 30, 2012 and $506,930 during the year ended June 30, 2013 for a total of $838,421. $150,000 was recovered as of June 30, 2013 from an insurance policy. An additional $350,000 was recovered after June 30, 2013 from the same insurance policy. The balance of $338,421 is expected to be recovered from the prior CFO/COOs estate. Internal control procedures have been reviewed and tightened.