2014-04-17T14:01:58-05:00 2013-06-30 GRANT THORNTON LLP 666 THIRD AVENUE NEW YORK NY 100174057 990 2012-07-01 111635105 St Francis College % JOHN RAGNO AVP FOR FINANCE STFR 7184895364 180 Remsen Street Suite Brooklyn NY 11201 JUNE MCGRISKEN 7184895364 2014-04-16 Laura Kielczewski 2125990100 2012 2015-11-30 17:44:51Z Brendan Dugan 180 Remsen Street Brooklyn NY 11201 78759959 false X WWW.SFC.EDU X 1957 NY St. Francis College is an independent, coeducational institution of higher education chartered by an act of the regents of the University of the state of New York on April 10, 1957. 26 26 525 0 4766 2972 5780641 3450830 46321897 52619847 943018 1818853 1679496 1932054 54725052 59821584 12914082 17000516 0 0 24075587 25693787 0 0 1557407 20263436 20779376 57253105 63473679 -2528053 -3652095 145777420 145334008 52682223 49720622 93095197 95613386 ST. FRANCIS COLLEGE IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION OF HIGHER EDUCATION CHARTERED BY AN ACT OF THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK ON APRIL 10, 1957. false false 17307356 52070037 INSTRUCTIONAL - THE COLLEGE PROVIDES DIRECT SERVICES through its faculty TO APPROXIMATELY 2,700 FULL AND 325 PART TIME STUDENTS LEADING primarily TO BACCALAUREATE AND ASSOCIATE DEGREES. the college has recently added several masters degrees. 15295995 549810 ACADEMIC SUPPORT - PROVIDES FUNDING FOR SUPPORT SERVICES TO THE INSTRUCTIONAL DEPARTMENTS, academic ENHANCEMENT AND STUDENT ORIENTATION SERVICES, HONORS PROGRAMS, AND THE LIBRARY. STUDENT SERVICES - PROVIDES FUNDING FOR THE OFFICES OF ADMISSIONS, REGISTRAR, AND OTHER STUDENT RELATED SUPPORT SERVICES AND ACTIVITIES TO ENSURE STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND DEVELOPMENT OUTSIDE THE FORMAL INSTRUCTIONAL PROGRAM. 17000516 17000516 STUDENT AID AND OTHER - FUNDING FOR SCHOLARSHIPS, GRANTS, AND OTHER FINANCIAL AID. THE COLLEGE awards federal and state grants and/or loans based upon financIAL need. College FUNDED INSTITUTIONAL AND ENDOWED GRANTS/SCHOLARSHIPS ARE AWARDED BASED UPON FINANCIAL NEED AND ACADEMIC MERIT. 49603867 true true false true false false false true false true true true false false true true true false true false true false false false true false false false true true true false false true false false false false false false false true false false false false false false false false true 4004 0 true 525 true true true false false false false true true false false false false X 26 26 true false false false false false false true true false false true true true true true true true true false X JOHN RAGNO AVP FOR FINANCE 7184895364 180 REMSEN STREET BROOKLYN NY 11201 HECTOR BATISTA 0.5 X 0 0 0 BROTHER WILLIAM A BOSLET 0.5 X msgr john j bracken 0.5 X BROTHER LEONARD CONWAY 0.5 X ORVILLE w DALE 0.5 X john b clark 0.5 X kenneth daly 0.5 X BARBARA G KOSTER 0.5 X JESUS f LINARES 0.5 X J CHRISTOPHER MANGAN 0.5 X LAWRENCE A MARSIELLO 0.5 X GINO P MENCHINI 0.5 X DENIS j SALAMONE 0.5 X BROTHER KEVIN SMITH OSF 0.5 X JOHN F TULLY 0.5 X X CHARLES E WILLIAMS III 0.5 X SUSAN L HUFF 0.5 X LESLIE s JACOBSON 0.5 X michael henning 0.5 X VICTOR J MASI 0.5 X William Dawson 0.5 X Edward N Constantino 0.5 X Mary Beth Dawson 0.5 X Sister Marilyn Trowbridge 0.5 X Luis Diaz 0.5 X Catherine Greene 0.5 X brendan dugan 40.0 X 350460 37003 TIMOTHY HOULIHAN 40.0 X 224048 35715 LINDA WERBEL DASHEFSKY 40.0 X 138189 37661 GUY CARLSEN 40.0 X 157532 22266 JUNE MCGRISKEN 40.0 X 227252 29713 Thomas Flood 40.0 X 193431 40314 dennis anderson 40.0 X 157417 18486 ALLEN BURDOWSKI 40.0 X 177941 20776 KEVIN O'ROURKE 40.0 X 150295 68705 DR GEOFFREY HORLICK 40.0 X 154284 35078 Glen braica 40.0 X 160270 21169 2091119 0 366886 31 false true false StructureTone Inc 770 Broadway NEW YORK NY 10003 Construction SRVC. 2977075 united restoration 31 12th street LONG ISLAND CITY NY 11106 construction srvc. 1186244 iss Facility services PO Box 118 NEW CASTLE PA 16103 cleaning services 744217 WilkiNs Media Inc 8010 Roswell road suite 1610 NEW YORK NY 10019 advertising consult. 619505 Systems Group 317 Neward Street HOBOKEN NY 07030 TECH. CONSULTANTS 486974 27 142561 501185 2807084 348359 3450830 STUDENT TUITION AND FEES 611710 52070037 52070037 ATHLETIC RELATED INCOME 611710 549810 549810 52619847 1651483 1651483 8748 8748 0 1213353 1213353 0 1213353 1213353 18714864 18556242 158622 158622 158622 843062 142561 382133 460929 460929 0 0 VENDOR COMMISSIONS & OTHER 721000 253006 253006 ADVERTISING INCOME 541800 4766 4766 257772 59821584 52619847 4766 3746141 0 17000516 17000516 0 0 2240873 804865 1242577 193431 0 18200922 14708825 2879342 612755 1552688 1192721 296461 63506 2133453 1638846 400632 93975 1565851 1202833 298974 64044 0 74995 60105 14890 154509 62034 92475 168000 168000 0 63742 63742 655938 123899 182795 349244 2045947 935604 1010337 100006 805078 403919 367274 33885 1915953 1676635 239318 0 2011205 1718383 281568 11254 81637 26920 48268 6449 0 282957 198370 65925 18662 723840 723840 0 4185036 3600677 584359 0 PHYSICAL PLANT MAINTENANCE 1666631 1408103 258528 BAD DEBT EXPENSE 1092955 1092955 ATHLETIC GAME MGMT. EXP 777781 777781 SPECIAL EVENTS & STUD. ACTV. 503229 147450 355779 3569943 98586 3461161 10196 63473679 49603867 12312405 1557407 1851002 589047 0 0 2748329 2780607 1176995 1401737 0 0 0 0 637197 618060 0 0 1114169 948581 101648370 39109397 60484016 62538973 45955745 52671105 19400965 17707530 0 0 0 0 12409002 6078368 145777420 145334008 7303090 5662350 0 0 4770854 4168832 38885199 38249849 0 0 0 0 0 0 0 0 1723080 1639591 52682223 49720622 X 75346052 76453904 7472294 8329424 10276851 10830058 93095197 95613386 145777420 145334008 X -3652095 6234026 -63742 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false true 168000 false false false false 168000 false Description of Lobbying Activities Part II-B, Line 1e The College hires consultants to provide advice, strategic planning, and program implementation on various projects and issues. Additionally, on behalf of the College the consultant attends and performs various presentations before elected officials, public hearings and government administrators. 200205 X X CURRENTLY HELD IN STORAGE false 43615635 869497 8043454 875118 3370711 48282757 46235474 389219 1308727 599280 3718505 43615635 38712995 894064 10421703 576418 3216870 46235474 36504579 612456 5840293 938891 3305442 38712995 51641131 1536421 -11815952 1408206 3448815 36504579 0.67791 0.22431 0.09779 false false 105640 105640 89514004 34237347 55276657 8344721 4872050 3472671 3684005 3684005 62538973 ABSOLUTE RETURN HEDGE FUND 8529817 F FUND OF FUNDS HEDGE FUNDS 396878 F PRIVATE EQUITY FUND 3277778 F PRIVATE REAL ESTATE FUND 5503057 F 17707530 0 REFUNDABLE LOAN PROGRAM 619126 DEFERRED STUD. PAYMENTS/DEPOSI 557284 ACCRUED INTEREST PAYABLE 463181 1639591 48991352 6234026 6234026 42757326 63742 17000516 17064258 59821584 46473163 46473163 17000516 17000516 63473679 Art Collections Part III, Line 4 The College possesses a Collection of Central American Art which is held in storage. Endowment part V, line 4 Certain endowment funds are used to provide scholarships to students in accordance with donor specifications. In addition, the Board of Trustees approved a spending rate of 5.75% to support the operations of the college. FIN 48 Part X The college follows guidance that 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 guidance requires that a tax position be recognized or derecognized based on a "more likely than not" threshold, and applies to positions taken or expected to be taken in a tax return. During fiscal 2013 and 2012, the College evaluated its tax positions and concluded that it does not have any uncertain tax positions that meet the criteria under the standard. The tax years ending June 30, 2010, 2011, 2012 and 2013 are still open to audit for both federal and state purposes. The College has processes presently in place to ensure the maintenance of its tax-exempt status; identify and report unrelated income; determine its filing and tax obligations in jurisdictions for which it has nexus; and identify and evaluate other matters that may be considered tax positions. Reconciliation Parts XII Line 4B and XIII Line 4b The amounts represent scholarships and awards that are net on the financial statements. reconciliation of revenue per audited financial statements with revenue per return: Part XII - Other, Listed on line 4b represents college scholarships and government sponsored assistance. reconciliation of expense per audited financial statements with expense per return: Part XIII - Other, listed on line 4b represents college scholarships and government sponsored assistance. true true true true true true true false false false false false false false false true false true Description Line 6A Financial Assistance is provided to our students by the U.S. Department of Education through the federally funded campus based programs - Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study (FWS), and the Federal Perkins Loan Program. Central America and the Caribbean Investments 12204473 12204473 12204473 true false true false false false Charter Dinner 615763 81510 534253 99159 1575 71521 Reunion Dinner 70789 14251 56538 51464 2 299071 46800 252271 47488 110926 985623 142561 843062 146647 51464 1575 182447 382133 460929 true SUPPLEMENTAL EQUAL OPPORTUNITY GRANT 209 151514 FEDERAL WORK STUDY PROGRAM 174 144734 COLLEGE FUNDED SCHOLARSHIPS 1905 16704268 PART I, LINE 2 THE COLLEGE AWARDS FEDERAL AND STATE GRANTS BASED UPON FINANCIAL NEED. COLLEGe FUNDED INSTITUTIONAL AND ENDOWED GRANTS/SCHOLARSHIPS ARE AWARDED BASED UPON FINANCIAL NEED AND ACADEMIC MERIT. THE COLLEGE MONITORS THESE GRANTS AND AWARDS BY SEMESTER TO VERIFY THAT RECIPIENTS ARE MAINTAINinG THE MINIMUM STANDARDS REQUIRED TO RECEIVE THE GRANT OR AWARD. X X X X X false false false false false false false false false brendan dugan 350460 31995 5008 387463 TIMOTHY HOULIHAN 224048 28500 7215 259763 LINDA WERBEL DASHEFSKY 138189 17172 20489 175850 dennis anderson 157417 12351 6135 175903 ALLEN BURDOWSKI 177941 19215 1561 198717 KEVIN O'ROURKE 150295 18342 50363 219000 DR GEOFFREY HORLICK 154284 15236 19842 189362 GUY CARLSEN 157532 18262 4004 179798 JUNE MCGRISKEN 227252 28500 1213 256965 Glen braica 160270 15495 5674 181439 Thomas Flood 193431 23935 16379 233745 A New York City Industrial Development Agency 132906040 64971C3H5 2004-11-01 335000 New Building Construction false true false B New York City Industrial Development Agency 132906040 64971C3E2 2004-11-01 310000 New Building Construction false true false C New York City Industrial Development Agency 132906040 64971C3F9 2004-11-01 320000 New Building Construction false true false D New York City Industrial Development Agency 132906040 64971C3G7 2004-11-01 325000 New Building Construction false true false A 0 0 335000 0 0 0 0 0 0 335000 0 0 false false true true B 0 0 310000 0 0 0 0 0 0 310000 0 0 false false true true C 0 0 320000 0 0 0 0 0 0 320000 0 0 false false true true D 0 0 325000 0 0 0 0 0 0 325000 0 0 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false true A true B true C true D SCHEDULE K, PART III, LINE # 3A 0 THE NYS IDA LISTED IS BROKEN UP INTO MULTIPLE SERIES ISSUES AND WAS USED TO FINANCE THE CONSTRUCTION OF A NEW ACADEMIC CENTER. THE COLLEGE ENTERED INTO A LEASE AGREEMENT WITH NEW YORK CITY FOR THE USE OF CERTAIN AREAS IN THE FACILITY. THE DASNY BOND LISTED IS BROKEN UP INTO MULTIPLE SERIES ISSUES AND IS CURRENTLY USED TO FINANCE CAPITAL IMPROVEMENTS THROUGHOUT THE CAMPUS. A New York City Industrial Development Agency 132906040 64971C3J6 2004-11-01 350000 New Building Construction false true false B New York City Industrial Development Agency 132906040 64971C3K8 2004-11-01 360000 New Building Construction false true false C New York City Industrial Development Agency 132906040 64971C3L6 2004-11-01 370000 New Building Construction false true false D New York City Industrial Development Agency 132906040 64971C3M4 2004-11-01 385000 New Building Construction false true false A 0 0 350000 0 0 0 0 0 0 350000 0 0 false false true true B 0 0 360000 0 0 0 0 0 0 360000 0 0 false false true true C 0 0 370000 0 0 0 0 0 0 370000 0 0 2006 false false true true D 0 0 385000 0 0 0 0 0 0 385000 0 0 2006 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true A New York City Industrial Development Agency 132906040 64971C3N2 2004-11-01 400000 New Building Construction false true false B New York City Industrial Development Agency 132906040 64971C3P7 2004-11-01 415000 New Building Construction false true false C New York City Industrial Development Agency 132906040 64971C3Q5 2004-11-01 4710000 New Building Construction false true false D New York City Industrial Development Agency 132906040 64971C3R3 2004-11-01 8255000 New Building Construction false true false A 0 0 400000 0 0 0 0 0 0 400000 0 0 2006 false false true true B 0 0 415000 0 0 0 0 0 0 415000 0 0 2006 false false true true C 0 0 4710000 0 0 0 0 0 0 4710000 0 0 2006 false false true true D 0 0 8255000 0 0 0 0 0 0 8255000 0 0 2006 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true A Dormitory Authority of New York State 146000293 6499052R6 2010-08-17 280000 Capital Improvements false true false B Dormitory Authority of New York State 146000293 6499052S4 2010-08-17 285000 Capital Improvements false true false C Dormitory Authority of New York State 146000293 6499052T2 2010-08-17 295000 Capital Improvements false true false D Dormitory Authority of New York State 146000293 6499052U9 2010-08-17 310000 Capital Improvements false true false A 0 0 280000 0 0 0 280000 0 0 0 0 0 false false true true B 0 0 285000 0 0 0 285000 0 0 0 0 0 false false true true C 0 0 295000 0 0 0 18407 0 0 0 0 0 false false true true D 0 0 310000 0 0 0 0 0 0 310000 0 0 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true A Dormitory Authority of New York State 146000293 6499052V7 2010-08-17 320000 Capital Improvements false true false B Dormitory Authority of New York State 146000293 6499052W5 2010-08-17 335000 Capital Improvements false true false C Dormitory Authority of New York State 146000293 6499052X3 2010-08-17 350000 Capital Improvements false true false D Dormitory Authority of New York State 146000293 6499052Y1 2010-08-17 365000 Capital Improvements false true false A 0 0 320000 0 0 0 0 0 0 320000 0 0 false false true true B 0 0 335000 0 0 0 0 0 0 335000 0 0 false false true true C 0 0 350000 0 0 0 0 0 0 350000 0 0 false false true true D 0 0 365000 0 0 0 0 0 0 365000 0 0 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true A Dormitory Authority of New York State 146000293 6499052Z8 2010-08-17 380000 Capital Improvements false true false B Dormitory Authority of New York State 146000293 6499053A2 2010-08-17 395000 Capital Improvements false true false C Dormitory Authority of New York State 146000293 6499053B0 2010-08-17 410000 Capital Improvements false true false D Dormitory Authority of New York State 146000293 6499053C8 2010-08-17 430000 Capital Improvements false true false A 0 0 380000 0 0 0 0 0 0 380000 0 0 false false true true B 0 0 395000 0 0 0 0 0 0 395000 0 0 false false true true C 0 0 410000 0 0 0 0 0 0 410000 0 0 false false true true D 0 0 430000 0 0 0 0 0 0 430000 0 0 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true A Dormitory Authority of New York State 146000293 6499053D6 2010-08-17 455000 Capital Improvements false true false B Dormitory Authority of New York State 146000293 6499053E4 2010-08-17 475000 Capital Improvements false true false C Dormitory Authority of New York State 146000293 6499053G9 2010-08-17 4055000 Capital Improvements false true false D Dormitory Authority of New York State 146000293 6499053F1 2010-08-17 15590000 Capital Improvements false true false A 0 0 455000 0 0 0 0 0 0 455000 0 0 false false true true B 0 0 475000 0 0 0 0 0 0 475000 0 0 false false true true C 0 0 4055000 0 0 0 0 0 0 4055000 0 0 false false true true D 0 0 15590000 0 0 0 0 0 0 12623811 0 2966189 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A true B true C true D true X 19 348359 FMV false false true Part I, Line 32A The college authorizes its investment advisor to sell donated securities on its behalf. Form 990, Part VI, Line 11 Form 990 Review process The form 990 is prepared and reviewed internally by the finance department and forwarded to an independent accounting firm for external review. Once the review process is complete, the full 990 is provided to the audit committee for review and approval. Upon approval, a copy of the full 990 is provided to all board members prior to filing. Form 990, Part VI, Section B, Line 12C Conflict of interest policy enforcement and monitoring The conflict of interest policy is distributed to all faculty, staff, and administration every year. Certain employees are required to sign the questionnaire and disclose any conflicts. All members of the board of trustees are required to review the policy and sign and complete a questionnaire on an annual basis, disclosing potential conflicts. The executive committee of the board monitors and enforces compliance. Form 990, Part VI, Section B, Line 15A & 15B process for determining compensation The college engaged an independent consultant to review and compare the compensation of top management to similar institutions in a compensation study. A compensation survey was performed regarding compensation of other officers. Compensation decisions and reports are contemporaneously documented in the board minutes when the decisions are made. Form 990, Part VI, Section C, Line 19 Public disclosure of documents The audited financial statements and conflict of interest policy are available on the College's website at www.sfc.edu. Governing documents will be made available upon request. Form 990, Part VI, Section A, Line 2 relationship disclosure William Dawson and Mary Beth Dawson - Family Relationship Form 990, Part XI, Line 5 Other changes in net assets Investment Expenses (63,742) Schedule F, Part 1, Line 3a & d The College has investments in foreign commingled funds whose legal domicile is located in the caribbean region.