2014-05-14T15:44:14-05:00 2013-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2012-07-01 030179403 SAINT MICHAEL'S COLLEGE % SHIRLEY GOODELL-LACKEY SAIN 8026542586 ONE WINOOSKI PARK BOX 274 Suite COLCHESTER VT 05439 NEAL E ROBINSON 8026542586 2014-05-14 true 6179881000 2012 2015-11-30 17:44:51Z NEAL E ROBINSON ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 137822582 false 0928 X WWW.SMCVT.EDU X 1913 VT IT IS THE MISSION OF SAINT MICHAEL'S COLLEGE TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND TO THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH. 31 29 2117 1665 138002 -13705 6853068 6263844 97152264 100454452 510371 4810137 762062 1536277 105277765 113064710 29047065 32719955 0 0 41489126 43621261 0 0 2128148 33563702 33371057 104099893 109712273 1177872 3352437 191735079 199887030 71395320 70313949 120339759 129573081 X IT IS THE MISSION OF SAINT MICHAEL'S COLLEGE TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE 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AUCOINPM 1.0 X 0 0 0 JOHN J BERGERON 1.0 X 0 0 0 LAWRENCE J BLANFORD 1.0 X 0 0 0 PATRICIA A CASEY 2.0 X 0 0 0 PHILIP C CIULLA JR 3.0 X 0 0 0 REV DAVID G CRAY SSE 1.0 X 0 0 0 VERY REV MICHAEL CRONOGUE SSE 15.0 X 0 0 0 DONALD R DION JR 1.0 X 0 0 0 MARK J DORAN 2.0 X 0 0 0 MICHELE S GATTO 1.0 X 0 0 0 REVTHOMAS FX HOAR SSE 1.0 X 0 0 0 R ALAN HUNTER JR 2.0 X REV MICHAEL P JACQUES SSE 1.0 X 0 0 0 NORIKO KAMEDA 1.0 X 0 0 0 SR JACQUELINE MARIE KIESLICH 1.0 X 0 0 0 REV MSGR JOHN MCDERMOTT 1.0 X 0 0 0 MICHAEL E MCGRATH 1.0 X 0 0 0 MARY-KATE G MCKENNA 3.0 X 0 0 0 REV RICHARD M MYHALYK SSE 1.0 X 0 0 0 DR CELENE R PAQUETTE 1.0 X 0 0 0 ERNEST A POMERLEAU 1.0 X 0 0 0 REV MARCEL R RAINVILLE SSE 2.0 X 0 0 0 STEVEN J RENEHAN 1.0 X 0 0 0 BARRY D ROY 5.0 X 0 0 0 DEIDRE M TAVERA 1.0 X 0 0 0 REV DAVID J THEROUX SSE 1.0 X 17248 0 0 DR PEGGY R WILLIAMS 1.0 X 0 0 0 DR JOHN J NEUHAUSER 40.0 X X 396257 0 81769 MARILYN E CORMIER 40.0 2.0 X 84901 0 21668 NEAL E ROBINSON 40.0 X 184530 0 28972 KAREN A TALENTINO 40.0 X 179359 0 31967 JOHN C VAN HOUTEN 40.0 X 156278 0 10866 MICHAEL J NEW 40.0 X 144473 0 11948 JERRY E FLANAGAN 40.0 X 133117 0 30018 MICHAEL D SAMARA 40.0 X 133979 0 24925 PATRICK J GALLIVAN 40.0 X 141440 18144 1571582 0 260277 31 false true false FREEMAN FRENCH FREEMAN INC 81 MAPLE STREET BURLINGTON VT 05401 ARCHITECTS 943548 ADAPTIVE COMMUNICATIONS 230 COMMERCE WAY PORTSMOUTH NH 038016849 IT CONSULTANTS 552015 ROYALL COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 RECRUITING CONSULTAN 434283 ATRION NETWORKING CORPORATION 30 SERVICE AVENUE WARWICK RI 028861021 IT CONSULTANTS 419747 COMPETITIVE COMPUTING INC 354 MOUNTAIN VIEW DRIVE COLCHESTER VT 054465923 IT CONSULTANTS 247612 12 39409 2638869 3585566 764516 6263844 TUITON AND FEES 611710 79808889 79808889 RESIDENCE AND DINING 721310 16782596 16782596 BOOKSTORE 451211 1272519 1272519 CONFERENCE CENTER 531390 302846 135014 167832 SMC PLAYHOUSE 713940 470219 470219 1817383 1817383 100454452 842339 1644 840695 0 0 401688 0 401688 0 401688 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50990332 50358417 0 0 0 0 169421 0 0 0 10443606 10189482 71395320 70313949 X 76395983 81276613 14499685 18216780 29444091 30079688 120339759 129573081 191735079 199887030 X 3352437 5919924 -39039 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false true 580 false false false 580 false false GRANTS TO OTHER ORGANIZATIONS FOR LOBBYING PURPOSES PART II-B, LINE 1F THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORMS SERVING THE INTERESTS OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $15,607. APPROXIMATELY $580 OF THIS AMOUNT WAS ALLOCATED TO LOBBYING. 69718728 677917 11028823 1706545 915985 490262 78312676 71231474 2697110 -1267356 1790702 755660 396138 69718728 58518913 2518415 13012809 1682667 792283 343713 71231474 55196338 494093 5881858 1850593 899595 303188 58518913 73084203 1279814 -15818576 2546083 508567 294453 55196338 0.43000 0.38000 0.19000 false false 2335261 2335261 119655384 68221359 51434025 36338442 27646377 8692065 33830402 3344430 30485972 92947323 CASH EQUIVALENTS 2219245 F DOMESTIC EQUITIES-LARGE CAP 5964448 F WORLD EQUITIES COMPOSITE-MF,HF 27459802 F DIRECTONAL HEDGE COMPOSITE-HFO 9026796 F RELATIVE VALUE STRATEGIES-DIR 5150127 F PRIVATE EQUITY 3772561 F GLOBAL FIXED INCOME-SUB DBT,HF 7031867 F REAL ASSET COMPOSITE-DHF,REAL 3498140 F DEPOSTIS WITH BOND TRUSTEES 4921793 F 69044779 0 OTHER LIABILITIES 3208511 AMTS HELD ON BEHALF OF OTHERS 2238231 REFUNDABLE ADVANCES 4301021 ANNUITY OBLIGATION 115512 CAPITAL LEASE OBLIGATIONS 326207 10189482 X 86389105 5919924 5919924 80469181 32595529 32595529 113064710 77155783 27706 27706 77128077 32584196 32584196 109712273 ENDOWMENT FUNDS PART V, LINE 4 THE PRIMARY USE OF THE COLLEGE'S ENDOWMENT IS TO SUPPORT OUR STUDENTS IN THEIR PURSUIT OF HIGHER EDUCATION THROUGH SCHOLARSHIP ASSISTANCE, RESEARCH AND STUDY ABROAD OPPORTUNITIES, SERVICE LEARNING, STUDENT SERVICES AND LECTURES SERIES. IN A FEW INSTANCES, ENDOWMENT FUNDS HAVE BEEN ESTABLISHED TO SUPPORT LIBRARY ACQUISITIONS, DEPARTMENT CHAIRS AND DEFERRED MAINTENANCE ON BUILDINGS PREVIOUSLY FUNDED BY DONORS. UNCERTAIN TAX POSITIONS PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUE INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XI, LINE 4B ATHLETICS SUPER RAFFLE PROCEEDS $ 39,039 STUDENT FINANCIAL AID $ 32,584,196 SPECIAL EVENTS EXPENSES $ (27,706) ----------------- TOTAL $ 32,595,529 OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XII, LINE 2D SPECIAL EVENTS EXPENSES $ 27,706 OTHER EXPENSES INCLUDED ON RETURN NOT IN FINANCIAL STATEMENTS PART XII, LINE 4B STUDENT FINANCIAL AID $ 32,584,196 true true true true true true true false false false false false false false false true false true NONDISCRIMINATION POLICY PART I, LINE 3 The College includes its racially nondiscriminatory policy in its bylaws, Employee Handbook, graduate and undergraduate catalogs, Student Code of Conduct and College Policy Handbook, Faculty Regulations, on our application supplement, under facts about the College on its website, and within the New England Association of Schools & Colleges (NEASC) Self Study document for Reaccreditation. The College also values diversity and has a Board of Trustees approved policy which is also contained within many of these documents. GRANTS FROM GOVERNMENT AGENCIES PART I, LINE 6A SAINT MICHAEL'S COLLEGE RECEIVES GRANTS AND STUDENT AID FROM VARIOUS GOVERNMENTAL AGENCIES FOR SUPPORT OF EDUCATIONAL AND STUDENT PROGRAMS. true Central America and the Caribbean Program Services SHORT-TERM PROGRAM 9194 Europe (Including Iceland and Greenland) Program Services SHORT-TERM PROGRAM 22219 East Asia and the Pacific Program Services SHORT-TERM PROGRAM 15772 Sub-Saharan Africa Program Services SHORT-TERM PROGRAM 976 South Asia Program Services SERVICE-DONATION 10000 Central America and the Caribbean Program Services SERVICE-DONATION 10000 East Asia and the Pacific Program Services RECRUITING 11814 Europe (Including Iceland and Greenland) Program Services RECRUITING 1343 North America Program Services RECRUITING 2449 Central America and the Caribbean Program Services RECRUITING 8754 South America Program Services RECRUITING 1535 Middle East and North Africa Program Services RECRUITING 4002 East Asia and the Pacific 9 AGENT 70956 Europe (Including Iceland and Greenland) 1 AGENT 12118 South America 2 AGENT 5969 South Asia 1 AGENT 510 Middle East and North Africa 3 AGENT 38366 Central America and the Caribbean Program Services STUDY ABROAD 164855 East Asia and the Pacific Program Services STUDY ABROAD 878278 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 2140403 Middle East and North Africa Program Services STUDY ABROAD 25050 South America Program Services STUDY ABROAD 325240 South Asia Program Services STUDY ABROAD 81810 Sub-Saharan Africa Program Services STUDY ABROAD 335332 Central America and the Caribbean Program Services SERVICE TRIP 527 South Asia Program Services SERVICE TRIP 20049 Central America and the Caribbean Investments 12170989 Europe (Including Iceland and Greenland) Investments 6267224 16 16 225977 22409757 22635734 South Asia GENERAL SUPPORT 10000 WIRE TRANSFE Central America and the Caribbean GENERAL SUPPORT 10000 CHECK 2 STUDENT SCHOLARSHIPS Central America and the Caribbean 7 61500 STUDENT A/C STUDENT SCHOLARSHIPS East Asia and the Pacific 31 261725 STUDENT A/C STUDENT SCHOLARSHIPS Europe (Including Iceland and Greenland) 80 668450 STUDENT A/C STUDENT SCHOLARSHIPS Middle East and North Africa 1 10550 STUDENT A/C STUDENT SCHOLARSHIPS South America 14 112753 STUDENT A/C STUDENT SCHOLARSHIPS South Asia 4 26325 STUDENT A/C STUDENT SCHOLARSHIPS Sub-Saharan Africa 12 111375 STUDENT A/C true false false true true true ACTIVITIES OUTSIDE THE UNITED STATES PART I, LINE 3 Short-Term Programs Saint Michael's College international short-term programs are an important and creative way for faculty and students to expand the boundaries of the Saint Michael's campus. Short-term study programs are academic courses developed by faculty. Typically lasting two weeks, these programs involve study abroad, may include direct involvement in issues covered in an on-campus course and provide direct experience on a particular topic in a particular locale. Study Abroad The College utilizes over 20 third-party program providers and exchange partners to provide students with opportunities to study in over 70 countries. There are many diverse program offerings for a student's study abroad experience. In our increasingly global society, more and more students recognize the value of spending a semester or year abroad. Recruiting The College has one full-time staff member who travels to recruit international students and groups for our English language programs and undergraduate admissions. These expenses are primarily related to travel in China and South Korea. The College is expanding its recruting efforts to many Latin American countries along with a few member states of the Arab league. Agents The College's Applied Linguistics Department offers a variety of English language programs for students to earn a certificate of completion and/or a Masters Degree in Teaching English to Speakers of Other Languages. Upon successful completion of the advanced English Program Level II, a student may matriculate into an undergraduate degree program at the College or elsewhere. The College uses international agents to assist with recruiting and admissions for these programs. Service Trip Refer to Part II supplemental information. This represents the in-country expenses paid for flights, meals, supplies and lodging. GRANTS TO ENTITIES OUTSIDE THE UNITED STATES PART II Our Mobilization of Volunteer Efforts Department, known as MOVE, promotes one principle of the Catholic faith - charity. MOVE provides opportunities for the College's students to perform community service work during the academic year and during semester and summer breaks at both domestic and international service sites. See Schedule O under Part III Student Services for more details. These payments represent funds raised by students to help support non-profit organizations in India and the Dominican Republic where they volunteer after the academic year concludes. MOVE is in communication with the recipient organizations throughout the year and has general conversations about the organizations' status and projects and make arrangements for the following year trip. MOVE works with organizations so student volunteers have a clear vision about what is expected and what they should expect when they arrive in the country. SCHOLARSHIPS PART III Scholarships related to students studying abroad for a semester or a year. All scholarships are applied to the student'S account balance. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO ALL STUDENTS ACCEPTED INTO THE STUDY ABROAD PROGRAM. Golf Classic 65219 39409 25810 1921 19150 4950 1685 0 65219 39409 25810 1921 19150 4950 1685 27706 -1896 41387 1500 750 98 true 1.00000 41387 1500 750 98 2348 39039 VT false IN VERMONT, A NON-PROFIT ORGANIZATION THAT ORGANIZES A RAFFLE OR GAMES OF CHANCE FOR THE PURPOSE OF RAISING FUNDS TO BE USED FOR CHARITABLE, RELIGIOUS, AND EDUCATIONAL PURPOSES DOES NOT NEED A LICENSE. false false false 1.00000 SHIRLEY GOODELL-LACKEY CONTROLLER SAINT MICHAELS COLLEGE 1 WINOOSKI COLCHESTER VT 05439 false GERALDINE KNORTZ ATHLETICS DIRECTO ORGANIZE AND COORDINATE ATHLETICS RAFFLE X false true VISTING NURSE ASSOCIATION 1110 PRIM ROAD COLCHESTER VT 05446 030179603 501(c)(3) 10000 SEE PART IV. SSE DBA SAINT ANNE'S SHRINE PO BOX 280 ISLE LA MOTTE VT 05463 030195115 501(C)(3) 105758 SEE PART IV. 2 STUDENT SCHOLARSHIPS 1811 28231421 UNDERGRADUATE ENDOWMENT FUNDED SCHOLARSHIPS 333 1706555 UNDERGRADUATE ATHLETIC GRANTS 19 927713 FED SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS 322 428417 GRADUATE STUDENT GRANTS 34 37413 GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE U.S. PART II, COLUMN H (1)The contribution to Saint Anne's Shrine was made to provide support of the organization's mission to serve as a welcoming place of peace and hope ministering to all God's people through prayer, devotion, hospitality, and spiritual renewal. The shrine was developed and maintained for the past 100 years by the Society of Saint Edmund, who are also the founders of Saint Michael's Colelge. The College shares a similar mission to contribute through higher education to the enhancement of the human person and the advancement of human culture in the light of the catholic faith. The College benefits from use of the facilities at the Shrine for curriculum enhancement, student and staff retreats and worship. (2)The contribution to the Visiting Nurse Association was made to provide general support of their mission to care for individuals and families through health and related services in homes and other community settings while also providing accountability, excellence, integrity, compassion and dependable and professional service. The College incorporates this organization into the anthropology class curriculum by providing students with the opportunity to partner with the VNA Family Room as a community-engaged learning site for the students. GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS IN THE U.S. PART III THE COLLEGE RECOGNIZES THE HIGH COST OF A PRIVATE EDUCATION AND ATTEMPTS TO ADDRESS AS MUCH AS WE PRACTICALLY CAN TO CLOSE THE GAP BETWEEN THE COST OF ATTENDANCE AND FAMILY RESOURCES USING A VARIETY OF SOURCES, INCLUDING FEDERAL, STATE, AND INSTITUTIONAL (COLLEGE) FUNDING. THE THREE TYPES OF FINANCIAL ASSISTANCE WE EMPLOY INCLUDE GRANTS AND SCHOLARSHIPS, LOANS, AND STUDENT EMPLOYMENT. IN 2012-2013, THE COLLEGE ADMINISTERED OVER $50 MILLION IN ASSISTANCE, OF WHICH APPROXIMATELY $31 MILLION WAS PRIMARILY COLLEGE FUNDED SCHOLARSHIPS OR GRANTS. THE FIVE-YEAR AVERAGE (2008-2012) OF UNDERGRADUATE STUDENTS RECEIVING COLLEGE FUNDED AID WAS 90.36%. THE COLLEGE'S PRACTICE HAS BEEN TO AWARD AID BASED ON MERIT AND/OR NEED TO ALL STUDENTS ACCEPTED FOR ADMISSION. THE AVERAGE NEED BASED SCHOLARSHIP OR GRANT FOR THE FALL 2012 INCOMING CLASS WAS APPROXIMATELY $21,468. THE AMOUNT OF AID A STUDENT RECEIVES UPON INITIAL ENROLLMENT GENERALLY IS AWARDED FOR EACH YEAR HE/SHE ATTENDS SAINT MICHAEL'S COLLEGE. X true true X X X X false false false false false false false false false DR JOHN J NEUHAUSER 391090 0 0 0 5167 0 36667 0 45102 0 478026 0 0 0 NEAL E ROBINSON 184530 0 0 0 0 0 12155 0 16817 0 213502 0 0 0 JOHN C VAN HOUTEN 156278 0 0 0 0 0 3075 0 7791 0 167144 0 0 0 MICHAEL J NEW 144473 0 0 0 0 0 9323 0 2625 0 156421 0 0 0 KAREN A TALENTINO 179359 0 0 0 0 0 11825 0 20142 0 211326 0 0 0 JERRY E FLANAGAN 132037 0 0 0 1080 0 8702 0 21316 0 163135 0 0 0 MICHAEL D SAMARA 133038 0 0 0 941 0 8847 0 16078 0 158904 0 0 0 PATRICK J GALLIVAN 139040 2400 9069 9075 159584 COMPENSATION INFORMATION PART II For eligible employees, column (D) nontaxable benefits primarily consists of health care and dental benefits. Details for amounts reported in column B(iii)and column (D) are listed below: For Dr. John J. Neuhauser - Column B(iii) includes personal use of a College vehicle and personal cell phone use. Column (C) deferred compensation includes contributions to the College's IRC 457(B) plan including earnings. Column (D) includes a housing allowance. For Jerry E. Flanagan - Column B(iii) includes personal use of a College vehicle. For Michael D. Samara - Column B(iii) includes personal use of a College vehicle. For Patrick J. Gallivan - Column B(iii) includes personal use of a College vehicle. A VT EDUCATIONAL & HEALTH BLDG FINANCE AGY 237154467 924166FM8 2012-05-24 50990332 CONSTRUCTION, EQUIPMENT, REFUNDING false false false A 320000 0 50990332 0 0 11585739 563023 0 0 27500000 11341570 0 2013 true true false false A false false true true false 0 false false false true A true false false 0 false 0 false true A true FINAL ALLOCATIONS OF PROCEEDS AND INVESTMENT BEYOND A TEMPORARY PERIOD PART II, LINES 16-17 AND PART IV, LINE 5 THE CONSTRUCTION OF A RESIDENCE HALL AND STUDENT UNION WILL BE COMPLETED AND PLACED IN SERVICE IN AUGUST 2013. THE FINAL ALLOCATION OF PROCEEDS WILL BE FINALIZED IN EARLY 2014 ONCE ALL CONTRACTOR INVOICES HAVE BEEN RECEIVED AND FINAL CHARGE ORDERS HAVE BEEN RECONCILED. THE COLLEGE MAINTAINS BOOKS AND RECORDS TO SUPPORT THE ALLOCATION AND TO REQUEST REIMBURSEMENT EXPENSES FOR THIS PROJECT FROM THE BOND TRUSTEE. THE BOND TRUSTEE REVIEWS ALL REQUESTS TO ENSURE THE EXPENSE IS APPROPRIATE WITHIN THE PURPOSE AS DEFINED IN THE BOND DOCUMENTS. THE COLLEGE'S 2012 SERIES BOND WILL NOT BE INVESTED BEYOND THE AVAILABLE TEMPORARY PERIOD AS THE BOND CLOSED IN MAY 2012 AND ALL CONSTRUCTION FUNDS WERE EXPENDED BY NOVEMBER 2013. ADOPTION OF MANAGEMENT PRACTICES PART III, LINE 9 AND PART IV, LINE 7 THE COLLEGE HAS WORKED WITH CONSULTANTS AND BOND COUNSEL TO MAKE CERTAIN COLLEGE PERSONNEL IS FAMILIAR WITH THE RULES AND REGULATIONS FOR POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES AND IS STILL IN PROCESS OF WORKING ON A PROGRAM TO CALCULATE PRIVATE BUSINESS USE. ALL USE OF THE BUILDING IS TRACKED BY THE COLLEGE'S CONFERENCE AND SPECIAL EVENTS DEPARTMENT. THE COLLEGE'S TAX-EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICIES AND PROCEDURES HAVE BEEN CREATED, REVIEWED, AND IMPLEMENTED BY MANAGEMENT AND APPROVED BY THE BOARD OF TRUSTEES. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION PART V THE COLLEGE'S TAX EXEMPT DEBT POST-ISSUANCE COMPLIANCE POLICIES AND PROCEDURES IDENTIFY AND ADDRESS ANY VIOLATIONS OF FEDERAL TAX REQUIREMENTS PURSUANT TO A VOLUNTARY CLOSING AGREEMENT PROGRAM WHERE SELF-REMEDIATION MAY BE UNAVAILABLE. NA N/A 575 TUITION REMISS. FRINGE BENEFIT MAGUIRE ASSOCIATES TRUSTEE CASEY IS SVP 135000 SEE PART V false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS PART IV Trustee Patricia Casey is a Senior Vice President at Maguire Associates. The College has a contract with this firm to assist in financial aid modeling and awarding to achieve certain admissions goals. Ms.Casey does not work directly on the College account. This year, the College paid $135,000 for services. This is an arm's length transaction. Ms.Casey, if permitted to by the Board of Trustees, may make an appearance at a Board or Board Committee meeting to present facts regarding a matter relative to the College's relationship with Maguire Associates, but may not participate in the deliberations or decision making with respect to this matter. X 44045 FMV-Expert opinion X 37 720471 FMV 1 false true true NON-CASH CONTRIBUTIONS LINE 4 and 9 The College is reporting the number of contributions related to each type of property that was received during FY13. USE OF A THIRD PARTY TO SELL NON-CASH CONTRIBUTIONS PART 1, LINE 32B The College uses a custodian to hold and process all investment transactions including asset safekeeping and collection of dividends and interest. All security contributions are delivered to the custodian with the instructions for immediate sale. ORGANIZATION'S MISSION STATEMENT FORM 990, PART I, LINE 1 AND PART III, LINE 1 SAINT MICHAEL'S COLLEGE IS A CATHOLIC LIBERAL ARTS RESIDENTIAL COLLEGE COMMITTED TO THE PURSUIT OF ACADEMIC EXCELLENCE, WITH AN UNDERGRADUATE ENROLLMENT OF APPROXIMATELY 2,000 STUDENTS AND 650 GRADUATE STUDENTS. WE CREATE AND SUSTAIN AN OPTIMAL LIVING AND LEARNING ENVIRONMENT THAT PROMOTES A VIBRANT INTELLECTUAL LIFE AND CHALLENGES STUDENTS TO ENGAGE IN ACTIVITIES TO EXTEND THEIR MINDS AND EXPERIENCES WITHIN AND BEYOND OUR VERMONT LOCATION. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINES 4A, 4B, 4C, AND 4D Academic Programs and Financial Support (Line 4A) The academic program is at the heart of the College's Mission and the reason for Saint Michael's College's existence. The College provides education with a social conscience, producing graduates with intellectual tools to lead successful, purposeful lives that will contribute to peace and justice in our world. Saint Michael's College students personalize their education through research, internships, and small classes, preparing them for a lifetime, not just for their first job out of college. The academic program is rigorous and calibrated to the appropriate developmental levels of students (first-year students through graduate level). The undergraduate academic program offers degrees in 23 different majors for the Bachelor of Arts Degree and 10 majors for the Bachelor of Science Degree. Students may also, choose from 34 minor programs. The academic program for graduate students includes 3 programs leading to Masters degrees in Clinical Psychology, Education and Teaching English to Speakers of Other Languages. Saint Michael's College awarded 408 Bachelors degrees and 113 Masters degrees during 2012-2013 academic year with, 1936 students enrolled in Baccalaureate degree programs and 571 in Masters degree programs. The class of 2013 had 349 graduates in May, of which 211, or 60%, also earned Minors. After receiving a Bachelors degree from Saint Michael's College, over 95% of our students enter the work force in a variety of careers or continue their education in a post-graduate program. The 4 year average (2003 - 2006) student-right-to-know completion or graduation rate is 79%; this rate compared favorably to the 70% reported by Act National Graduation rates for private 4-year institutions offering only bachelors degrees in the selective category. The College's goal is to have 30% of each graduating class study abroad. Over 20 third party program providers offer students opportunities to study in over 70 countries and the College has met this goal for the last 5 academic years. The College has made strides in educating students beyond the classroom in preparation for their careers after graduation. In 2012-2013, 236 students engaged in supervised academic internships, compared with 253 in the previous year, representing over 12% of the student body for each of these academic years. In the summer of 2013, 40 students were engaged in independent research with professors, and this compares with 47 students in the summer of 2012 and 46 students in the summer of 2011. The College has a robust honors program which began in the late 1980's, and recognizes high achievement among our students. In 2013, 43 students (or 10% of the senior class) graduated in the honors program. In the spring of 2014, 420 students from all four classes, about 22% of the student body, were members of the honors program. In addition, Saint Michael's College shelters a chapter of Phi Beta Kappa, Delta Epsilon Sigma and eleven discipline based honors societies with nearly 100 members of the class of 2013. In 2003 Saint Michael's College joined the elite group of 280 colleges nationwide with Phi Beta Kappa chapters, making Saint Michael's College one of the only 22 Catholic Colleges in the U.S. and one of four in New England with such a chapter. The College is identified in the 2014 Edition of the Princeton Review as one of the Nations' best 378 Colleges and is also included in the prestigious 2014 Fiske Guide to Colleges and deemed a best buy. Saint Michael's College is rated as a top 100 liberal arts college by the U.S. News and World Report and ranked 89th in Catholic Colleges in the Northeast, and is now the fifth-best ranked among Catholic liberal arts colleges in the entire nation. Factors that helped the College move from its prior year rank include an excellent graduation rate, student faculty ratio and SAT scores along with other factors. Kiplinger's Personal Finance 2014 has ranked Saint Michael's College 68th on its list of the country's best values in private colleges. Forbes magazine America's Top Colleges' Edition has ranked Saint Michael's College 183rd for best private College. For the fourth straight year, Saint Michael's College was included in the The Princeton Review's Guide to 322 Green Colleges, recognized for their commitment to the environment. In 2012 Saint Michael's College was selected by the Carnegie Foundation as one of only 41 baccalaureate arts and science colleges nationwide in its community engagement classification, an area they define as the collaboration between institutions of higher education and their larger communities for the mutually beneficial exchange of knowledge and resources in a contest of partnership and reciprocity. The College is named one of the 34 exemplary institutes in the NSSE, National Survey Student Engagement by the Pew Charitable Trust and the Carnegie Foundation for the advancement of Teaching. Every five years the Vermont Department of Education conducts a performance review of all the educator programs. Saint Michael's College underwent the process in October 2011 and received full approval for all licensure programs. We are particularly proud of the seven commendations from the review. No other teacher preparation program has ever received more than three. The academic program is supported by many professional and administrative staff including information technology (IT), academic enrichment programs, library and information services (LIS), registrar's office, the Vice President of Academic Affairs and the Dean. The IT department is committed to creating a robust technology environment for the College's students, faculty and staff. They support administrative applications, instructional technology services, all of which support the mission and goals of the College by providing its constituents with a reliable, secure, and fast campus network; support for the appropriate integration of technology into teaching and research; and technology support for administrative operations. Saint Michael's College is committed to students' academic success therefore, in addition to academic enrichment programs designed to enhance the learning experience, a variety of services are offered to ensure that our students get the most out of their education including independent studies, Peace and Justice Center, Women's Center, service learning, student/faculty research and internships to name a few. These services and activities are designed to assist our students in enhancing their learning opportunities in order to achieve their fullest intellectual development. Academic enrichment also supports faculty in offering extra-curricular activities that enhance their classroom teaching and in designing innovative components to their courses that foster experiential learning. LIS provides students, faculty, and staff with the information resources and services they need for study, teaching and research. The library strives to determine community needs and respond to them by shaping its resources and services to provide the best possible support for the academic program. In order to support our students attending Saint Michael's College, a variety of grants and assistance is awarded. Refer to schedule I, Part IV for additional information. Auxiliary Enterprises (line 4B) In 2003, The Board of Trustees affirmed in the College's Mission statement that being a member of the residential community is central to our students' experience at Saint Michael's College, by endorsing a 100% residency requirement. In addition to expenses associated with on-campus dining services, auxiliary services expenses include residence hall bond interest, depreciation expense and costs related to the bookstore, printing and mailing services, special events, summer playhouse and other auxiliary programs that support our students' living and learning experience at the College. As part of the residential experience, there are unique housing options available on campus based on common interests that students share such as GREAT (Growing Recognition of the Effects of Alcohol on Thinking) with 150 students, honor housing (51 units) and Ambassador housing (48 Units) which provides an opportunity for U.S. students to live with international students. Dining on campus provides the social experience essential to a well-rounded campus life. STUDENT SERVICES (LINE 4C) Students are at the center of the College's Mission. While the academic elements are foremost, supporting the students' personal development is vital as well. The offices of admissions, student life, Edmundite Campus Ministry, Wilderness Program, Athletics and many student clubs work to enhance students' personal growth as well as their academic success. To supplement the academic culture on campus and enrich overall quality of the college experience, a variety of weekend programs is offered to students, along with many outdoor programs such as the ski pass, cultural and artistic events through the Flynn center-Saint Michael's College cultural pass, a variety of ministry programs, and community service opportunities through MOVE (Mobilization of Volunteer Efforts). Approximately 80% of students are involved in some form of intercollegiate, intramural, club, recreation, personal fitness, or wilderness program offering. Approximately 21% of Saint Michael's College students participate in one of the 21 varsity sports. Our student athletes have achieved a 98% academic success rate (ASR); a statistic defined by the NCAA as a measurement of graduation within a 6 year cohort time period as of June 2013. Saint Michael's College has again been recognized as a recipient of the Division II Presidents' Award for Academic Excellence as a member of the Northeast-10 Conference. SMC achieved the highest Academic Success Rate (ASR) in the conference, and ranked among the top 5 in the nation. The office of student activities strives to provide students opportunities to develop as ethical leaders and engaged citizens, and offers a wide variety of programs and activities designed to meet their needs. Our Got Skills program (Socially just, Kindness toward others, Inclusive toward all people, Leading at every turn, Listening with care and, Self-respectful) focuses on promoting human dignity and diversity. Educational programs offered in the residence halls help to bring people together who might not have otherwise met, help people to better know each other, and expose individuals to new ideas and beliefs. Floor visitors' dialogue programs provide an environment conducive for faculty, staff and student dialogue about academic and community pursuits. These represent a sample of the programming offered to students in the residence halls. The office of student activities assists the student government on campus as well as student clubs. Approximately 95% of the student population participates in student activities programs. The College embraces and supports students' commitment to community services reflected by the fact that 65% of our students participate in a service activity through our MOVE program - part of Edmundite Campus Ministry. The fundamental objective of Edmundite Campus Ministry is to help students', faculty and staff reflect on and celebrate the spiritual and religious dimensions of their lives while at Saint Michael's College. Programs such as retreats, liturgies, spiritual direction, and prayerful reflection meals are designed to encourage everyone to step back and experience life at its deepest, most meaningful level. About 15% of our student population is involved in weekly or daily worship as well as attendance in these programs. Other Program Services (Line 4D) Other program service expenses include public service and research. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 Form 990 schedules are prepared by College personnel with guidance and review from external tax preparers who sign and file the form. In early May, prior to filing with the Internal Revenue Service each member of the Board of Trustees was provided with Form 990 and all schedules, except Schedule B, contribution detail, which is not provided in order to respect our donors' confidentiality. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Secretary of the College distributes the conflict of interest policy, questionnaire and certification annually to trustees, officers and key employees. The Secretary reviews the responses and potential conflicts are brought to the Trusteeship and Mission Committee for review and resolution. A list of interlocking boards is maintained to assist in determining if potential conflicts arise during the year. The Trusteeship and Mission Committee submits names for board recruitment and vets any conflict issues. This Committee provides information to the Executive Committee for consideration and nomination. DOCUMENT RETENTION AND DESTRUCTION POLICY FORM 990, PART VI, SECTION B, LINE 14 The College has a high-level document retention and destruction policy and follows specific guidelines provided by the Internal Revenue Service and relevant regulations with respect to records retention and destruction - including the provisions of Vermont Law (9 VSA Part 3 Chapter 62 Subchapter 4 Document Safe Destruction Act) with respect to disposal of documents containing confidential information. Another resource utilized by the College is "Record Retention and Disposal: A Manual for College Decision Makers," which provides the College with a guide to the applicable laws, regulations and other considerations for all areas of our business, including employment and admissions applications, payroll, student records, financial, tax and contributions records, as well as federal reporting specific to the higher education industry. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 The Executive Committee of the Board of Trustees, excluding the College President, is responsible for establishing and maintaining a competitive compensation program for the executive officers of the College. The Executive Committee meets as needed to review the compensation program and make recommendations for any changes. The Executive Committee has the responsibility for decisions regarding compensation in all its current and potential forms for the executive officers of the College. The Vice President of Human Resources provides independent compensation data, e.g. NACUBO, CUPA, etc. and analysis to the Executive Committee. The Executive Committee meets annually, usually while the Trustees are here for the March or June Board meeting, to review survey data regarding compensation for the President and other officers of the College. The last meeting was in June 2013. The College complies with the three requirements of the rebuttable presumption standard, as outlined in Treasury Regulations Section 53.4958-6: (1) executive compensation is authorized by an independent committee of the board of directors, (2) the committee authorizing executive compensation obtains and relies on appropriate data as to comparability prior to making determinations, and (3) the committee adequately documents the basis for determinations concurrently with making the determinations. PUBLIC DISCLOSURE POLICY FORM 990, PART VI, SECTION C, LINE 19 The College is a private organization and therefore by law, is not required to make its governing documents, conflict of interest policy or financial statements available to the public. In the interest of transparency, the College complies with requests for this information from federal and state regulatory agencies, our accreditation agency and other entities or individuals in the ordinary course of business. The College posts the most recent three years of Form 990 and 990-T on its website. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 AND LINE 9 FORM 990, PART XI, LINE 5 UNREALIZED LOSSES ON INVESTMENTS $ 5,919,924 FORM 990, PART XI, LINE 9 GAMBLING INCOME INCLUDED IN LIABILITY ACCOUNT $ (39,039) SAINT MICHAEL'S COLLEGE FIRE & RESCUE ONE WINOOSKI PARK COLCHESTER VT 05439 201120657 FIRE & RESCUE VT 501(C)(3) 7 NA true MERRILL CEMETERY ASSOCIATION INC ONE WINOOSKI PARK COLCHESTER VT 05439 010868920 CEMETERY VT 501(C)(3) NA true CHARITABLE REMAINDER TRUST (1) CRT VT SMC TRUST true false false true false false false false false false false false false false true true false true false false SAINT MICHAEL'S COLLEGE FIRE AND RESCUE C 100000 COST SAINT MICHAEL'S COLLEGE FIRE AND RESCUE N 68600 FMV