2014-02-14T13:05:51-06:00 2013-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2012-07-01 141468399 MOUNT SAINT MARY COLLEGE MOUN 8455613209 330 Powell Avenue Newburgh NY 125503412 CATHLEEN KENNY 2014-02-14 true Rachel Spurlock P00520729 5023263996 2012 2015-11-30 17:44:51Z CATHLEEN KENNY 330 Powell Avenue Newburgh NY 125503412 91670199 false X WWW.MSMC.EDU X 1960 NY THE COLLEGE IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION COMMITTED TO PROVIDING STUDENTS WITH A LIBERAL ARTS EDUCATION TO PREPARE THEM FOR LIVES OF LEADERSHIP AND SERVICE. THROUGH A VARIETY OF MAJORS AND PROFESSIONAL PROGRAMS, STUDENTS ARE ALSO PREPARED FOR CAREER ENTRY OR GRADUATE AND PROFESSIONAL STUDIES. 24 24 1192 28 0 0 2929366 6857082 68571953 67761415 1311799 727189 -37085 -46661 72776033 75299025 14081332 14480906 0 0 27863954 29076149 24518 23372 713713 26215393 26390005 68185197 69970432 4590836 5328593 182959159 210988539 58886714 77268882 124072445 133719657 AS REFLECTED IN ITS MOTTO "DOCE ME VERITATEM" (TEACH ME THE TRUTH), MOUNT SAINT MARY COLLEGE IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION COMMITTED TO PROVIDING STUDENTS WITH A LIBERAL ARTS EDUCATION TO PREPARE THEM FOR LIVES OF LEADERSHIP AND SERVICE. THROUGH A VARIETY OF MAJORS AND PROFESSIONAL PROGRAMS, STUDENTS ARE ALSO PREPARED FOR CAREER ENTRY OR GRADUATE AND PROFESSIONAL STUDIES. CONSISTENT WITH JUDEO-CHRISTIAN VALUES AND THE DOMINICAN TRADITION OF EDUCATION THAT VALUES THE INHERENT WORTH OF THE INDIVIDUAL, THE MISSION OF MOUNT SAINT MARY COLLEGE IS TO CREATE AN ENVIRONMENT WHICH FOSTERS CLOSE STUDENT-FACULTY INTERACTION THAT ENABLES STUDENTS TO REACH THEIR FULL POTENTIAL AS LIFELONG LEARNERS. MOUNT SAINT MARY COLLEGE STRIVES TO PROVIDE A STIMULATING ENVIRONMENT THAT PROMOTES THE INTELLECTUAL AND PERSONAL GROWTH OF UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION STUDENTS. false false 43748281 14480906 51250391 MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2580 FULL AND PART TIME STUDENTS. 12939097 13662370 ROOM AND BOARD AND BOOKSTORE OPERATIONS 2499412 1983586 BISHOP DUNN MEMORIAL SCHOOL - ELEMENTARY SCHOOL OPERATIONS 478956 865068 OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. 478956 865068 59665746 true true false true false false false false true true true false true true true true false true false true false false true true false false false true true true false false false false false false false false true false true false false false false false false false false false true 3561 0 true 1192 true false false false false false true true false false false false X 24 24 false false false false false false false true true false false true true true true true true true true false X N Mazza 8455693209 330 Powell Avenue Newburgh NY 125503412 ALBERT J GRUNER DMD 7.50 X X 0 0 0 ITA M RAHILLY CPA 5.00 X X 0 0 0 ANNA HALPINE 2.00 X 0 0 0 CHARLES FRANK 5.00 X 0 0 0 CHRIS J GAWLEY ESQ 5.00 X 0 0 0 DAVID MELBY 1.00 X 0 0 0 DUNCAN MAXWELL ANDERSON 3.00 X 0 0 0 ELIZABETH AILES 1.50 X 0 0 0 FATHER JOHN A LANGLOIS OP 0.50 X 0 0 0 FRANK A MARCHETTI 1.50 X 0 0 0 GREG M COOPER CPA CSEP 2.50 X 0 0 0 HARRISON H BUXTON III 3.00 X 0 0 0 JONATHAN GATSIK 3.00 X 0 0 0 JOSEPH A O'LOUGHLIN 1.00 X 0 0 0 LUDWIG H BACH 3.00 X 0 0 0 MARIANNA R KENNEDY ESQ 2.00 X 0 0 0 R ABEL GARRAGHAN 3.00 X 0 0 0 ROBERT MURPHY 5.00 X 0 0 0 SISTER ANN P STANKIEWICZ OP 2.00 X 0 0 0 SISTER LUCY POVILONIS OP 2.50 X 0 0 0 SISTER MADELEINE TACY OP 1.00 X 0 0 0 SISTER MARGARET ANDERSON OP 1.50 X 0 0 0 SR LORELLE ELCOCK OP 1.50 X 0 0 0 SUSAN D NAJORK 3.50 X 0 0 0 THOMAS C DONAHOE 2.00 X 0 0 0 WENDY E LONG ESQ 2.25 X 0 0 0 CATHLEEN KENNY 35.00 X 141526 0 31092 ELAINE A O'GRADY 35.00 X 89458 0 9915 FATHER KEVIN MACKIN 35.00 X 205725 0 32867 HARRY STEINWAY 35.00 X 119976 0 20460 IRIS TURKENKOPF 35.00 X 155513 0 28949 JAMES RAIMO 35.00 X 139803 0 32667 JOSEPH VALENTI 35.00 X 139572 0 30987 MARY HINTON 35.00 X 117431 0 26682 JAMES BEARD 35.00 X 103707 0 23571 JAMES COTTER 35.00 X 118946 0 17725 JOHN REILLY 35.00 X 104546 0 18852 PAUL SCHWARTZ 35.00 X 105808 0 19004 WILLIAM LAHAR 35.00 X 102455 0 24309 1644466 0 317080 13 false true true KIRCHHOFF-CONSIGLI CONSTRUCTION MANAGEMENT INC 199 WEST ROAD SUITE 100 PLEASANT VALLEY NY 12569 CONSTRUCTION SERVICES 8849107 LCS FACILITY MAINTENANCE INC 36 COTTAGE STREET POUGHKEEPSIE NY 12601 FACILITY SERVICES 460711 HIGHLAND ASSOCIATES 102 HIGHLAND AVENUE CLARKS SUMMIT PA 18411 ARCHITECTURAL SERVICES 196896 SPECHT ELECTRIC INC 24 STILL HOLLOW ROAD NEWBURGH NY 12550 ELECTRICAL SERVICES 158822 L & M COMPANY 140 HIGHLAND STREET PORT CHESTER NY 10940 CONTRACTOR 150194 6 151214 952091 5753777 81415 6857082 TUITION AND FEE INCOME 611310 51250391 51250391 DORMITORIES, FOOD, SERVICE, CAMPUS STORE 611310 13662370 13662370 ELEMENTARY SCHOOL - PRE K TO GRADE 8 611110 1983586 1983586 COMMUNITY EDUCATION 611310 358147 358147 OTHER SOURCES 611310 506921 506921 0 0 0 0 67761415 779254 779254 0 0 24485 45717 -21232 0 -21232 -21232 16189230 16241295 -52065 0 -52065 -52065 58733 151214 84162 -25429 -25429 0 0 0 0 0 0 0 0 0 0 0 0 0 75299025 67761415 0 680528 0 14480906 14480906 0 0 1202297 1062725 139572 0 20807177 18114326 2444230 248621 1359560 1060457 271912 27191 3988727 3270756 638196 79775 1718388 1409078 274942 34368 0 62406 62406 83355 83355 0 23372 23372 143224 143224 4761855 4226145 527068 8642 763505 500379 211282 51844 1693243 787192 836910 69141 684315 367375 316940 0 1636852 946192 690660 471761 336803 120072 14886 0 130715 110707 19866 142 1831060 1716239 114821 0 5700599 5244551 456048 476974 303355 173619 ELEMENTARY SCHOOL 2148530 2148530 MAINTENANCE & REPAIRS 1101338 1072154 29184 BOOKSTORE 931076 931076 SMALL EQUIPMENT 632732 91977 540755 3136465 2547548 572758 16159 69970432 59665746 9590973 713713 0 9620890 8718264 4506648 8171666 1290194 1319267 0 0 554696 576837 206776 0 950746 1246989 160217041 42620387 108782378 117596654 29353246 38028564 20504285 18187971 0 0 7189300 17142327 182959159 210988539 2020594 4713409 1557495 1461641 45455607 65454318 0 3156643 1369595 6696375 4269919 58886714 77268882 X 112751947 118367637 6878001 10826356 4442497 4525664 124072445 133719657 182959159 210988539 X 5328593 4637200 -318581 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 0 0 false Description of the activities reported on Lines 1a through 1i Schedule C, Part II-B, Line 1 THE COLLEGE DOES NOT UNDERTAKE ANY DIRECT LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER IN SEVERAL HIGHER EDUCATION ASSOCIATIONS SUCH AS NACUBO (NATIONAL ASSOCIATION OF COLLEGE UNIVERSITY BUSINESS OFFICERS) AND CICU (COMMISSION ON INDEPENDENT COLLEGES AND UNIVERSITIES) TO WHICH IT PAYS DUES. A PORTION OF THESE DUES ARE USED FOR LOBBYING PURPOSES. 4771129 83167 69550 261455 4662391 4691673 81157 281732 283433 4771129 4452398 223584 114685 98994 4691673 3702471 790939 66846 107858 4452398 2183615 1594517 -20511 55150 3702471 0.97000 0.03000 false false 7403933 7403933 132336735 37715345 94621390 0 7391568 4905042 2486526 13084805 13084805 117596654 0 F 0 LIMITED PARTNERSHIPS - INTERNATIONAL INVESTMENTS 8573560 F DOMESTIC EQUITY FUND 3854846 F INTERNATIONAL EQUITY FUND 3573241 F HEDGE FUNDS 2186324 F 18187971 DEFERRED FINANCING COSTS 1105970 DEPOSITS WITH BOND TRUSTEES 16036357 17142327 0 CONDITIONAL ASSET RETIREMENT OBLIGATION 196000 DERIVATIVE LIABILITY 3446629 GOVERNMENT GRANTS REFUNDABLE 627290 4269919 X Intended uses of endowment funds Schedule D, Part V, Line 4 THE PORTION OF THE PERMANENT ENDOWMENT FUNDS THAT IS REQUIRED TO BE RETAINED BY EXPLICIT DONOR RESTRICTION IS AS FOLLOWS FOR 2013: - RESTRICTED FOR SCHOLARSHIP SUPPORT $2,559,535 - RESTRICTED FOR INSTITUTIONAL SUPPORT $1,966,129 THE PORTION OF THE TEMPORARILY RESTRICTED ENDOWMENT FUNDS SUBJECT TO A TIME RESTRICTION IS AS FOLLOWS FOR 2013: - RESTRICTED FOR INSTITUTIONAL SUPPORT $136,727 FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE COLLEGE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS WILL BE RECOGNIZED ONLY IF THE TAX POSITION IS CONSIDERED MORE-LIKELY-THAN-NOT TO BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. MANAGEMENT BELIEVES THE COLLEGE DOES NOT HAVE ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2013 AND 2012. THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATION BY U.S. FEDERAL TAXING AUTHORITIES AND FOR ALL STATE INCOME TAXES THROUGH 2007. THE COLLEGE DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE COLLEGE WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE COLLEGE HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2013 AND 2012. true true true true true true true false false false false false false false false true false true Racially nondiscriminatory policy Schedule E, Part I, Line 3 THE COLLEGE PUBLISHES AN ANNUAL NOTICE OF ITS NON DISCRIMINATORY POLICY IN A LOCAL NEWSPAPER DURING THE ACADEMIC YEAR. THE NOTICE COMPLIES WITH IRS GUIDELINES. Financial aid or assistance from a governmental agency Schedule E, Part I, Line 6a THE COLLEGE RECEIVES FEDERAL PELL, WORKSTUDY, SEOG, NYS TAP AND OTHER STATE SCHOLARSHIP FUNDS. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 279000 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 8574000 0 0 8853000 false false true true false false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL X X X X X X X true LESTER INC 18 BUSINESS PARK DRIVE BRANDFORD CT 06405 FUNDRAISING false 40745 23372 17373 40745 23372 17373 AZ GOLF TOURNAMENT 100425 77672 22753 0 2250 19814 0 0 9256 GALA 83250 59673 23577 0 0 6478 19468 0 7166 1 26272 13869 12403 0 0 13269 583 1800 4078 209947 151214 58733 0 2250 39561 20051 1800 20500 84162 -25429 FUNDRAISING AGREEMENT SCHEDULE G, PART I, LINE 2A THE ACCEPTED PROPOSAL FOR FUNDRAISING ACTIVITIES PROVIDED THAT THE FILING ORGANIZATION WOULD BE INVOICED ON A WEEKLY BASIS, AND THAT ALL INVOICES WOULD REFLECT THE NUMBER OF CALLING AND TRAINING HOURS AND NUMBER OF DIRECT MAIL PIECES SENT. THE AGREEMENT PROVIDED THAT THE FEES FOR SET-UP, PRINTING AND PROCUREMENT OF STATIONERY AND FORMS WOULD APPEAR IN THE FIRST INVOICE. THE SETUP FEES WERE A FIXED AMOUNT. CHARGES FOR TELEPHONE CALLING, TRAINING, AND GENERAL SERVICES WERE PRICED AT AN HOURLY RATE AND DIRECT MAIL CHARGES WERE PRICED AT A PER ITEM BASIS. true SCHOLARSHIPS 2152 14480906 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE ORGANIZATION HAS RULES IN PLACE TO ENSURE THAT SCHOLARSHIP AID PROVIDED TO STUDENTS IS USED FOR AUTHORIZED PURPOSES. ADDITIONAL DETAIL IS AVAILABLE UPON REQUEST. X X true true X X X false false false false false false false false false JAMES RAIMO 139138 0 0 0 665 0 14884 0 17783 0 172470 0 0 0 JOSEPH VALENTI 139138 0 0 0 434 0 13089 0 17898 0 170559 0 0 0 CATHLEEN KENNY 141081 0 0 0 445 0 13332 0 17760 0 172618 0 0 0 IRIS TURKENKOPF 151421 0 0 0 4092 0 15384 0 13565 0 184462 0 0 0 FATHER KEVIN MACKIN 205725 0 0 0 0 0 18515 0 14352 0 238592 0 0 0 Housing allowance or residence for personal use Schedule J, Part I, Line 1a COLLEGE PROVIDES HOUSING FOR THE PRESIDENT AS PART OF HIS EMPLOYMENT CONTRACT. PURSUANT TO IRC SEC. 119, HOUSING PROVIDED TO THE PRESIDENT IS NON-TAXABLE. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE COLLEGE PROVIDES THE PRESIDENT WITH A CLUB MEMBERSHIP AS PART OF HIS EMPLOYMENT CONTRACT. THE CLUB MEMBERSHIP IS USED SOLELY FOR BUSINESS PURPOSES AND AS SUCH IS NONTAXABLE. PRESIDENT'S COMPENSATION SCHEDULE J, PART II, COLUMN (A) THE COLLEGE PAYS THE PRESIDENT'S COMPENSATION DIRECTLY TO HIS ORDER, ST FRANCIS MONASTERY FOUNDATION INC, WHICH IS AN UNRELATED ORGANIZATION. A ORANGE COUNTY FUNDING CORPORATION 273179651 684594AT1 2012-12-21 40087992 SEE SCHEDULE O. false false false B ORANGE COUNTY FUNDING CORPORATION 273179651 2012-12-21 25465000 SEE SCHEDULE O. false false false A 0 0 40087992 0 0 0 738186 0 0 12904806 18712388 7732612 2013 false true true true B 0 0 25465000 0 0 0 430016 0 0 1432054 23602930 0 2013 false true true true A false false false false false false 0.0000 0.0000 0.0000 false false 0.0000 false false B false false false false false false 0.0000 0.0000 0.0000 false false 0.0000 false false A false true false false false false 0.0 false false false 0.0 false false false B false true false false true true TD BANK 30.0 false false false 0 false false false A false B false ORANGE COUNTY FUNDING CORPORATION: CUSIP- 684594AT1 SCHEDULE K, PART I, COLUMN (F) PROCEEDS OF $17,205,265 WAS USED TO ADVANCE REFUND SERIES 2003 BOND, AND NON-REFUNDING PROCEEDS OF $22,306,668 USED FOR THE RENOVATION OF THE DOMINICAN CENTER, AND PAY OFF THE ORIGINAL LOAN FOR THE PURCHASE OF THE DOMINICAN CENTER. ORANGE COUNTY FUNDING CORPORATION SCHEDULE K, PART I, COLUMN (F) ADVANCE REFUND 2005 BOND THAT WAS REOFFERED IN 2008 BY THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK LYNN FRANK FAMILY MEMBER OF CHARLES FRANK, BOARD MEMBER 19600 COMPENSATION false X 6 81415 MARKET VALUE 0 false true false Number of contributions or items contributed. Schedule M, part I, column (b), Line 9 Delegate broad authority to a committee Form 990, Part VI, Section A, Line 1a ARTICLE VIII COMMITTEES OF THE BOARD OF TRUSTEES: VIII-2-THE EXECUTIVE COMMITTEE SHALL BE COMPRISED ALL STANDING COMMITTEE CHAIRS. AT HIS DISCRETION THE CHAIR MAY APPOINT AN ADDITIONAL MEMBER OF THE BOARD TO THE EXECUTIVE COMMITTEE. SUCH EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE IN THE INTERVALS BETWEEN MEETINGS OF THE FULL BOARD ALL POWERS AND AUTHORITY VESTED IN THE FULL BOARD UNDER ARTICLE 5, SECTION 226 OF THE EDUCATION LAW, EXCEPT THOSE POWERS SPECIFICALLY WITHHELD BY SAID SECTION 226, SUB-SECTION 2. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE COMPLETED FORM 990 IS DISTRIBUTED TO THE BOARD OF TRUSTEES IN ADVANCE OF FILING FOR THEIR REVIEW. Conflict of interest policy Form 990, Part VI, Section B, Line 12c THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION SHARES COMPLETED CONFLICT OF INTEREST QUESTIONAIRES WITH ALL TRUSTEES IN DECEMBER'S BOARD MEETING. CONFLICTS ARE REVIEWED AND RESOLVED BY THE MEMBERS OF THE EXECUTIVE COMMITTEE. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE PRESIDENT'S COMPENSATION IS SET BY THE BOARD OF TRUSTEES. HIS SALARY IS REVIEWED AND ADJUSTED IN CONNECTION WITH AN ANNUAL PERFORMANCE REVIEW. COLLEGE POLICY CALLS FOR AN ANNUAL REVIEW OF SALARIES OF OFFICERS AND KEY EMPLOYEES BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEIR REVIEW IS DOCUMENTED IN THE COMMITTEE MINUTES, AND WAS LAST DONE IN JUNE 2013. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS SET BY THE BOARD OF TRUSTEES AND BASED ON A REVIEW OF PUBLISHED DATA THAT COMPARES SALARIES OF OFFICER AT SIMILAR SIZED INSTITUTIONS. COLLEGE POLICY CALLS FOR AN ANNUAL REVIEW OF SALARIES OF OFFICERS AND KEY EMPLOYEES BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEIR REVIEW WAS DOCUMENTED IN THE JUNE 2013 MINUTES. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Other changes in net assets or fund balances Form 990 , Part XI, Line 9 UNREALIZED GAIN ON INTEREST RATE SWAP - 2151543; COST OF BOND DEFEASEMENT - -2470124;