2014-05-06T15:16:50-05:00 2013-06-30 KPMG LLP ONE FINANCIAL PLAZA HARTFORD CT 06103 990 2012-07-01 141338580 Trustees of Union College % DIANE BLAKE TRUS 5183886104 807 UNION STREET Suite Schenectady NY 12308 DIANE BLAKE 2014-05-03 5184274600 2012 2015-11-30 17:44:51Z Stephen Ainlay 807 Union Street Schenectady NY 12308 434542098 false X www.union.edu X 1795 NY See Attachment 1 35 32 2454 17 1083692 -529168 20557380 21786990 115317662 120117720 18770310 19518195 5197087 3860508 159842439 165283413 37851849 39757598 0 0 65583238 68498711 0 0 5452962 45951398 45891506 149386485 154147815 10455954 11135598 543302893 572031273 107693939 107276391 435608954 464754882 X UNION COLLEGE, FOUNDED IN 1795, IS A SCHOLARLY COMMUNITY DEDICATED TO SHAPING THE FUTURE AND TO UNDERSTANDING THE PAST. FACULTY, STAFF AND ADMINISTRATORS WELCOME DIVERSE AND TALENTED STUDENTS INTO OUR COMMUNITY, WORK CLOSELY WITH THEM TO PROVIDE A BROAD AND DEEP EDUCATION, AND GUIDE THEM IN FINDING AND CULTIVATING THEIR PASSIONS. WE DO THIS WITH A WIDE RANGE OF DISCIPLINES AND INTERDISCIPLINARY PROGRAMS IN THE LIBERAL ARTS AND ENGINEERING, AS WELL AS ACADEMIC, ATHLETIC, CULTURAL, AND SOCIAL ACTIVITIES, INCLUDING OPPORTUNITIES TO STUDY ABROAD AND TO PARTICIPATE IN UNDERGRADUATE RESEARCH AND COMMUNITY SERVICE. WE DEVELOP IN OUR STUDENTS THE ANALYTIC AND REFLECTIVE ABILITIES NEEDED TO BECOME ENGAGED, INNOVATIVE, AND ETHICAL CONTRIBUTORS TO AN INCREASINGLY DIVERSE, GLOBAL AND TECHNOLOGICALLY COMPLEX SOCIETY. false false 141150043 39757598 118797849 Providing higher education to support approximately 2,200 full-time equivalent students under a four year program leading to a bachelor's degree 141150043 true true false true false false false true false true true true false false true true true false true false true false true false true false false true true true true false false false false false false false false true false true true false false false true true false false false true 2679 0 true 2454 true true true false false false false true true false false false false false false false X 35 32 true false false false false false false true true false true true false true true true true true true true false NY X DIANE BLAKE 5183886104 807 UNION STREET Schenectady NY 12308 Judith Dein 1.0 0.0 X Stephen J Ciesinski 1.0 0.0 X Neil M Golub 1.0 0.0 X Robert D Bertagna 1.5 0.0 X David J Breazzano 1.5 0.0 X William J Curtin 1.0 0.0 X David Henle 2.5 0.0 X Adrian Maclean Jay 1.0 0.0 X Douglass Karp 1.5 0.0 X John E Kelly III 1.8 0.0 X X Kathy E Magliato 1.0 0.0 X Frank L Messa 2.0 0.0 X Stanley O Brien 1.5 0.0 X Lawrence Pedowitz 2.3 0.0 X X Stephen W Ritterbush 1.0 0.0 X James W Taylor 1.0 0.0 X Mark Walsh 3.8 0.0 X X Kelly M Williams 2.3 0.0 X X Robert A Danziger 1.0 0.0 X Jason Oshins 1.0 0.0 X Stephen Ainlay 40.0 0.0 X X 459337 0 94063 James M Lippman 1.5 0.0 X William M Wicker 1.0 0.0 X John Spinelli 40.0 0.0 X 105792 47381 Hans-Friedrich Mueller 40.0 0.0 X 130991 55798 Norton Reamer 1.0 0.0 X Estelle Cooke-Sampson 1.0 0.0 X Roy Jackson 1.0 0.0 X Ellen Smith 1.0 0.0 X Patrick Dicerbo 1.0 0.0 X Richard Lev 1.0 0.0 X Ryan Bottin 1.0 0.0 X William Scudder Clay 1.0 0.0 X Donald Foley 1.0 0.0 X Diane Blake 40.0 0.0 X 211618 29364 Penelope Adey 40.0 0.0 X 82250 0 58575 Edward Summers 40.0 0.0 X 95328 0 16067 Therese McCarty 40.0 0.0 X 199333 57752 Matthew Malatesta 40.0 0.0 X 173447 32656 Ellen Borkowski 40.0 0.0 X 153748 30916 Stephen Dare 40.0 0.0 X 201879 71381 Alan Taylor 40.0 0.0 X 161146 28021 Robert Baker 40.0 0.0 X 146170 26165 William Zwicker 40.0 0.0 X 143453 25564 David Mitchell Hayes 40.0 0.0 X 142389 25443 Harold Fried 40.0 0.0 X 154704 37512 2561585 0 636658 91 false true false FPI Mechanical 11 Green Mountain Drive COHOES NY 12047 CONSTRUCTION 432750 Turner Construction Company 22 Corporate Woods Blvd 4th floor ALBANY NY 12211 Construction 1780651 UW Marx Inc 20 Gurley Avenue TROY NY 12182 Construction 1661602 Maggs Associates 501 State Street SCHENECTADY NY 12305 Legal 611940 Schmidt Schmidt Inc 2240 Route 67 GALWAY NY 12074 Construction 346401 5 X 113243 2919511 18754236 6412410 21786990 TUITION & FEES 611710 97820686 97820686 AUXILIARY ENTERPRISE 713990 21814890 20977163 837727 ATHLETICS 713990 259517 259517 AUXILIARY ICE RINK 204627 204627 RENT BOOKSTORE 611710 18000 18000 120117720 1505322 1505322 279741 279741 0 31360 31360 0 31360 31360 283942247 266209115 17733132 17733132 17733132 20691 113243 53772 -33081 -33081 0 4178898 2995798 1183100 1183100 INTERCOLLEGIATE ATHLETICS 900099 2255994 2255994 NON OPERATING REVENUE 900099 209853 209853 CGA INVESTMENT INCOME 900099 203304 203304 9978 9978 2679129 165283413 118797849 1083692 23614882 43839 43839 39701659 39701659 12100 12100 0 1911378 732291 914557 264530 150837 137262 6033 7542 47955952 43476157 2025645 2454150 5376755 4882484 223485 270786 9589574 8595620 418489 575465 3514215 3095497 214802 203916 348099 348099 342372 27999 314373 215787 215787 9905 9905 0 1036888 109627 927261 1732737 1469550 187893 75294 334459 181698 75656 77105 8425060 7479145 384067 561848 2681295 2528230 65891 87174 0 8330540 7652988 562357 115195 3102608 2646712 121689 334207 0 2300114 1721185 168957 409972 2743268 2736931 6337 0 10863726 10863726 794384 190305 604079 OTHER EXPENSES 2630264 2516939 107452 5873 154147815 141150043 7544810 5452962 119280 87954 26656844 20136846 15105524 16006589 3347925 2939358 0 0 0 0 6338189 6441803 1048525 990282 896580 1048867 351990382 205002092 145726929 146988290 72406361 68066746 247117088 294056111 0 0 0 0 24539648 15268427 543302893 572031273 11828980 12893586 0 0 815364 994122 74056190 74048978 0 0 0 0 0 0 0 0 20993405 19339705 107693939 107276391 X 180671277 191701469 109693454 122609745 145244223 150443668 435608954 464754882 543302893 572031273 X 11135598 17225438 784892 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 9905 9905 false Part II-B- Description of Lobbying Activity Question 1 Union retains a lobbying firm in Washington DC to obtain funding for the college through the federal appropriations process. X X X X Educational false 321972461 18078890 41615439 3789795 13068256 6200000 358608739 327756302 6306707 10652263 4087275 13055536 5600000 321972461 297078531 6711456 57057490 4794124 21437051 6860000 327756302 291305120 6635723 37872215 5109830 28774697 4850000 297078531 399538866 6328854 -88958538 4643118 17721944 3239000 291305120 0.29000 0.41000 0.30000 true true true 101 101 151721720 70440079 81281641 71673611 31971009 39702602 86465189 72424553 14040636 42129761 30166451 11963310 146988290 FIXED INCOME 34814627 F EMERGING MARKETS 21638506 F INTERNATIONAL PRIVATE EQUITY 2474438 F VENTURE EQUITY 2647460 F PRIVATE EQUITY 35220947 F MULTI-STRATEGY 21834362 F HEDGED EQUITY 75370973 F DISTRESSED DEBT 15439471 F DOMESTIC EQUITY 57573980 F INTERNATIONAL EQUITY 27041347 F 294056111 0 FEDERAL STUDENT LOAN FUNDS 2461284 ACCRUED POST RETIREMENT BENEFI 10459263 PLIF & CGA 4781268 ASSET RETIREMENT OBLIGATIONS 1637890 19339705 X 186289541 17225438 784892 18010330 168279211 -2995798 -2995798 165283413 157143613 2995798 2995798 154147815 154147815 Part III, Line 4- Description of Organization Collections The college's collections are made up of approximately 18,000 objects and their estimated fair market value is approximately $18,000,000. The College's policy is not to capitalize its collections. The college's collections comprise paintings and portraits, furniture, works on paper, scientific instrumentation, and other objects. The college's collections are held for educational, research, scientific, and curatorial purposes. Each item is catalogued, preserved, and cared for, and activities verifying their existence and assessing their condition are performed periodically. Part V, line 4- Intended Use of Endowment Fund The intended use of the organization's endowment funds are to be used for programs and other educational purposes in accordance with donor intentions for the use of funds. Part X- FIN 48 Footnote The College is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code and is generally exempt from income tax on related income. The 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% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The College believes it has taken no significant uncertain tax positions. Part XII, line 2d Other Expenses and Losses Per Audited F/S Bookstore & Sushi Bar COGS, Part VIII, Line 10B..........$2,995,798 Total $2,995,798 Part XI, line 4b Other Revenue Included On Form 990 But Not Included In F/S Bookstore & Sushi Bar COGS.................. $ -2,995,798 Total $ -2,995,798 Part XI, line 2d Other Revenue Included In F/S But Not Included On Form 990 Actuarial Adjustment ............................. $720,344 Athletic Fundraising Expense...................... 53,772 Athletic Sponsorship Agreement.................... -9,978 CGA-Other Admissions less Inv Mngt Fees........... 20,754 Total $784,892 Part III, Line 1a- F/S Footnote for Art, Treasures, Etc, The College's collections are held for educational, research, scientific and curatorial purposes. Each of the items is catalogued, preserved, and cared for, and activities verifying their existence and assessing their condition are performed periodically. All proceeds resulting from the deaccession of objects from the permanent collection are allocated for the benefit of the collections. During the years ended June 30, 2013 and 2012, no objects were deaccessioned. true true true true true true true false false false false false false false false true false true Line 3- Racially Nondiscriminatory Policy Publicized Racially nondiscriminatory policy is publicized through area newspaper. Union College does not discriminate on the basis of race, color, sexual orientation, national or ethnic origin to all the rights, privileges, programs and activities generally accorded or made available to students. This policy extends to the administration of their educational policies, admissions policies, scholarship and loan programs and athletic and other school-administered programs. Schedule E, Line 6- Explanation of Aid or Assistance from Governmental The organization has received the following financial aid or assistance from a governmental agency: 1. Federal campus-based aid, which includes Federal Work-Study, Supplemental Educational Opportunity Grants, and Federal Perkins Loans from the U.S. Department of Education. 2. NSF-STEM Scholarships which are funded by the Federal Government. 3. TAP awards, NYS Merit Scholarships and Tution/Maintenance Grants received from NYS for the HEOP Program. true North America Program Services Study abroad 22146 Russia and the Newly Independent States Program Services Study Abroad 13593 Europe (Including Iceland and Greenland) Program Services Syudy Abroad 1190644 Sub-Saharan Africa Program Services Study Abroad 84064 East Asia and the Pacific Program Services Study Abroad 816879 South America Program Services Study Abroad 323732 Middle East and North Africa Program Services Study Abroad 38655 South Asia Program Services Study Abroad 33759 Central America and the Caribbean Investments 162713403 Sub-Saharan Africa Investments 1486497 Europe (Including Iceland and Greenland) Program Services Fundraising 32475 Europe (Including Iceland and Greenland) Program Services Educational Activity 9768 Europe (Including Iceland and Greenland) Program Services Research 3129 Europe (Including Iceland and Greenland) Program Services Recruiting/Admissions 1452 North America Program Services Educational Activity 194 North America Program Services Recruiting/Athletics 15311 North America Program Services Educational Activity 4379 North America Program Services Research 4336 East Asia and the Pacific Program Services ITS Software 8848 East Asia and the Pacific Program Services Recruiting/Admission 5958 Middle East and North Africa Program Services Recruiting/Admission 1984 Middle East and North Africa Program Services Educational Activity 522 South Asia Program Services Recruiting/Admission 426 South Asia Program Services Research 2315 Central America and the Caribbean Program Services Research 5149 Central America and the Caribbean Program Services Recruiting/Admission 32 South America Program Services Recruiting/Admission 4117 South America Program Services Educational Activity 1382 Sub-Saharan Africa Program Services Student Fellowship 5744 166790080 40813 166830893 Scholarship East Asia and the Pacific 4 5100 Student Acct N/A Scholarship Europe (Including Iceland and Greenland) 2 3000 Student Acct N/A Scholarship Middle East and North Africa 2 2200 Student Acct N/A Scholarship South America 2 1800 Student Acct N/A true false true true true false Part I, Line 2- Grantmakers Explanation for Monitoring Use of Funds Terms Abroad Scholarships are awarded by Union's Terms Abroad office to students scheduled to study abroad based on financial need and criteria established by the donor. The student receiving the award understands that the funds must be returned to Union if the student does not travel abroad. The award is generally used for the student's travel expenses, which are not covered by Union College. Upon their return, the student is urged to write a personal note of thanks to the donor describing their terms abroad experience. Garnet Blades 44616 35344 9272 3250 10261 800 876 Gridiron Golf 34510 39930 -5420 150 5507 3327 400 4 54808 37969 16839 360 19969 2705 1495 4672 133934 113243 20691 3760 35737 6832 1495 5948 53772 -33081 true Alumni Council of Union College 807 Union Street Schenectady NY 12308 146019466 501(c)(3) 43839 Book To cover expenses 1 0 Higher Education Opportunity Program 76 146694 Book Cr to Student's a/c Union College General Scholarships 1592 33242924 Book Cr to Student's a/c Endowed Scholarships 579 3772117 Book Cr to Student's a/c Annual Restricted Scholarships 107 12000 982944 BOOK Cr to Student's a/c Work Study 906 966419 Supplemental Educational Opportunity Grant 350 303140 Book Cr to Student's a/c ROTC Scholarship 8 274241 Scholarships Credit to STudent's Supporting Scholars in Science And Engineering 1 1180 Book Cr to Student's a/c Part I, Line 2- Procedures for Monitoring Use of Grant Funds in U.S. All grants awarded are based on need and and conform to federal, state and institutional regulations. Eligibility is based on a thorough review and verification of a family's income, assets, size and number of dependents enrolled in college. Annual expenditure reports are submitted to the federal and state governments for review. The fund expenditures are reviewed for compliance in an annual audit conducted by an independent accounting firm. X X X X false false X X X X false true false false false false false false false Stephen Ainlay 440245 0 0 0 19092 0 49995 0 44068 0 553400 0 0 0 Diane Blake 204118 0 7500 23509 5855 240982 0 Alan Taylor 144146 17000 18376 9645 189167 0 Matthew Malatesta 173447 19650 13006 206103 0 John Spinelli 105792 12699 34682 153173 0 Hans-Friedrich Mueller 130991 14163 41635 186789 0 Ellen Borkowski 153748 17949 12967 184664 0 Robert Baker 146170 16558 9607 172335 0 William Zwicker 143453 15973 9591 169017 0 David Mitchell Hayes 142389 15854 9589 167832 0 Therese McCarty 182333 17000 22885 34867 257085 0 Stephen Dare 201269 610 23109 48272 273260 0 Harold Fried 154704 14473 23039 192216 0 Part I, Line 1a- Relevant Information Regarding Compensation Benefits Line 1 - Housing Allowance Per their employment contracts, the College provides housing for the President, Vice President for College Relations, Vice President for Student Affairs and Resident Directors & Advisors. Of this group, only the President, Stephen Ainlay, and the Vice President for College Relations, Stephen Dare, are required to be disclosed on Schedule J. We have estimated the value of housing to be approximately $2,000 per month. The expense is not taxable and therefore not included in the individuals form W-2. Line 1 - Health or Social Club Dues or Initiation Fees Stephen Ainlay, President, has an employment contract which states that the College will pay for two club memberships as required by his employment. The first is to the Mohawk Golf Club in Schenectady and the other membership is to the University Club in New York City. Additionally, as part of his employment contract the Vice President for College Relations, Stephen Dare, is entitled to a membership at the Mohawk Golf Club which is paid for by the College. No formal written policy is available as the memberships are considered to be job requirements for these particular employees. This is not considered a taxable benefit because it is used solely for business and not personal use. Line 1-Personal Services Stephen Ainlay, President, as part of his employment contract the college provides routine housekeeping. The college also provides a gardner. The expense is included in the housing allowance as mentioned above. Line 1- Travel for Companions COnsistent with code section 274(M)(3), the college did not include de minimis travel expenses for President AInlay's spouse as she is an employee of the college and travel is a required part of her job and therefore not included in the W-2. Part I, line 4b President Stephen Ainlay has a 457(f) plan in which the College contributed $22,495 in 2012. Part 1, Line 1b- Reason For Not Following Policy Regarding Payments See explanation Part 1, Line 1 A County of Schenectady IDA 141699509 2005-12-22 6150000 Renovate college's fitness ct false false false B City of Schenectady IDA 141699509 806143BF3 2006-11-22 33356354 Refinance series 1999 IDA Bond true false false C Schenectady County Cap Re 273478847 2010-12-23 15310000 Fund Facilities Renewal Plan false false false D Schenectady County Cap Re 273478847 806418AT6 2012-04-26 24263434 Refinance Portion Series 2001 true false false A 0 0 6150000 0 0 0 98667 0 0 6051333 0 0 2009 false false true true B 0 30030000 33356354 0 0 0 410663 0 0 32945691 0 0 2005 false true true true C 0 0 12291185 0 147984 0 291184 0 0 12000000 0 0 false false false D 0 24287175 24263434 0 0 16806877 470121 0 0 23793313 0 0 2005 true true false A false false false false 0 0.01600 0.01600 false false false true B false false false false 0 0.01200 0.01200 false false false true C false false false false 0.00000 0.01900 0.01900 false false false true D false false false false 0.04970 0.01860 0.06830 false false false true A false false true false true true Bank of America 8.4 false false false 0 false true B false false true false false false 0 false 0 false true C false false true false true true JP Morgan Chase 6. false false false 0 false true D false false false false false false 0 false 0 false true A true B true C true D true Part VI- Supplemental Information 0 Part III-Line 5 Bond Issue 2010: To calculate the percentage, the total amount borrowed ($15,310,000) was used rather than the proceeds amount actually drawn down on the bond at June 30, 2013. Part III Line 4,5,6 Bond Issue 2012: To calculate the percentage on lines 4, 5, and 6, the total proceeds were used (includes the 2003 and a portion of the 2001 refunded bonds). The percentage of private use is greater than the 5% cap at June 30, 2013. The College has a plan to reduce the conferencing activitiy from Wellspring in the future so that the average percentage of private use over the life of the bonds will not exceed the 5% cap. Scott Montgomery See Part V 87078 See Part V false Judith Ainlay See Part V 63759 See Part V false Schedule L, Part IV - Interested Persons LINE 1 COLUMN B: FAMILY MEMBER OF OFFICER LINE 1 COLUMN D: EMPLOYEE OF THE COLLEGE LINE 2 COLUMN B: FAMILY MEMBER OF OFFICER & TRUSTEE LINE 2 COLUMN D: EMPLOYEE OF THE COLLEGE X 8 0 X 58485 Opinions of Experts X 10700 Opinions of Experts X 217 6121013 Market value X 5 1260 Opinions of Experts X 31 2607 Cost X Computer Equipment 70 34043 cost X Athletic Broadcasts/Events - Other 26 49781 selling price X campus events 3 10929 selling price X miscellaneous 17 10347 cost 3 false true false Column B Column B represents the number of contributions made for each specified category and NOT the number of items contributed to Union College. Part VI, Line 1a- Explanation of Material Differences in Voting Rights There are 34 trustees listed on Part VII, Section A, all of whom have voting rights. In addition, the Governor of the State of New York has voting rights as described in the College's By-Laws; however is not considered a trustee and is therefore not listed on Part VII, Section A. Part VI, Line 2- Business or Family Relationships of Officers, Directors, 1. STEPHEN RITTERBUSH AND KATHY MAGLIATO - BUSINESS RELATIONSHIP 2. DAVID BREAZZANO AND JAMES TAYLOR - BUSINESS RELATIONSHIP Part VI, Line 11b- Form 990 Review Process Although the College does not provide a copy to all Board members, it does provide a copy of the 990 to the Audit Committee prior to submission for review. The Audit Committee Chair provides an overview of the review to the full Board of Trustees. In addition, a copy of the Form 990 is available for review in the College's Finance Office. Part VI, Line 12c- Explaination of Monitoring and Enforcement of Conflicts The Trustees of Union College has a written conflict of interest policy, which requires officers, directors, trustees and key employees to annually disclose interests that could give rise to conflicts. Questionnaires are sent annually to monitor and enforce compliance with the policy. The responses to the questionnaires are reviewed by both the President's Office and Finance for potential conflicts of interest that require disclosure. If a conflict of interest is noted, potentially a Board member would have to recuse himself from voting, if so required. Part VI-B, Question 15b The Executive Compensation Committee shall act as a committee of the Board, consisting of the Chairman, Vice Chairman, Secretary, and General Counsel of the Board of Trustees. The Chair of the Board shall serve as the Chair of the Committee. The Committee shall act as the authorized body under Treasury Reg. 53.4958-6, responsible for approving the compensation arrangements of the President and certain key employees, as defined from time to time by the Internal Revenue Service. Regarding the President, the Committee will: a. Review goals for the upcoming year and accomplishments for the year just ended. b. Obtain appropriate analysis and studies for use in evaluating the compensation of the President. c. Document its deliberations and decision establishing the President's compensation. d. Report to the Executive Committee of the Board annually its findings and actions. Part VI, Line 19- Other Organization Documents Publicly Available The Trustees of Union College's governing documents, conflict of interest policy and financial statements are available to the public upon request. The financial statements are also available on the College's website www.union.edu. Part XI, Line 9- Other Changes In Net Assets or Fund Balances Actuarial Adjustment.................................. $720,344 Athletic Fundraising Expense.......................... 53,772 Athletic Sponsorship AGreement........................ -9,978 CGA- Other Additions Less Inv Mngt Fees............... 20,754 Total $784,892 Part VI-B, Question 10A The Trustees of Union College is affiliated with the Alumni Council of Union College, Inc. Part VI-B, Question 10B There are written policies and procedures governing the activities of Alumni Council. Alumni Council of Union College Inc 807 Union St Abbe Hall Schenectady NY 12308 146019466 Supporting Or NY 501(c)(3) 11C NA false Charitable Lead Annuity Tr (1) Investing NY Union College CLAT 0 0 true Charitable Remain Ann Tr (1) Investing CT Union College CRAT 0 0 true Charitable Remain Unitr (10) Investing Union College CRUT 0 0 true Income Beneficiary Tr (3) Investing Union College Trust 0 0 true false true false false false false false false false false false false false false false false true false false Supplemental Information Part IV Line 3 The 10 charitable remainder unitrusts listed on line 3 of part IV have the following legal domiciles: 2-NY 1-NJ 2-CT 1-FL 1-MO 2-CA 1-PA Part IV Line 4 The 3 income beneificary trusts listed on line 4 of part IV have the following legal domiciles: 2-NY 1-NJ