2013-05-07T07:57:39-05:00 2012-06-30 KPMG LLP ONE FINANCIAL PLAZA HARTFORD CT 06103 990 2011-07-01 141338580 Trustees of Union College % DIANE BLAKE TRUS 5183886104 807 UNION STREET Schenectady NY 12308 Diane Blake 2013-05-03 true 8602975596 2013-04-30 2011 2016-03-07 17:11:31Z Stephen Ainlay 807 Union Street Schenectady NY 12308 381440967 false X www.union.edu X 1795 NY See Attachment 1 36 32 2423 16 1108026 -438409 17392793 20557380 110003711 115317662 11940609 18770310 5978217 5197087 145315330 159842439 36509363 37851849 0 0 63547172 65583238 0 0 5580208 44049134 45951398 144105669 149386485 1209661 10455954 542911893 543302893 101014399 107693939 441897494 435608954 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 135999905 37851849 93802268 Providing higher education to support approximately 2,200 full-time equivalent students under a four year program leading to a bachelor's degree 135999905 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 true true true false false false true false false false false true 2601 0 true 2423 true true true false false false false true true false false false false false false false X 36 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 Stephen J Ciesinski 1.5 X 0 0 0 Neil M Golub 1.0 X 0 0 0 Robert D Bertagna 1.0 X 0 0 0 David J Breazzano 1.5 X 0 0 0 William J Curtin 1.0 X 0 0 0 David Henle 2.5 X 0 0 0 Adrian Maclean Jay 1.5 X 0 0 0 Douglass karp 1.0 X 0 0 0 John E Kelly III 1.8 X 0 0 0 Paul LeClerc 1.0 X 0 0 0 Kathy E Magliato 1.0 X 0 0 0 Frank L Messa 1.5 X X 0 0 0 Stanley O Brien 1.5 X 0 0 0 Lawrence Pedowitz 2.3 X X 0 0 0 Stephen W Ritterbush 2.0 X 0 0 0 James W Taylor 1.0 X 0 0 0 David A Viniar 1.0 X 0 0 0 Mark Walsh 3.8 X X 0 0 0 Kelly M Williams 1.8 X 0 0 0 Robert A Danziger 1.0 X 0 0 0 Michael F Newell 1.0 X 0 0 0 Jason Oshins 1.0 X 0 0 0 Gerald Barandes 1.0 X 0 0 0 Philip R Beuth 1.0 X 0 0 0 Arnold I Burns 1.0 X 0 0 0 William G Burns 1.0 X 0 0 0 Joseph M Hinchey 1.0 X 0 0 0 DAVID CHAPNICK 1.0 X 0 0 0 John S Wold 1.0 X 0 0 0 Stephen Ainlay 40.0 X X 473818 0 109875 James M Lippman 1.0 X 0 0 0 William M Wicker 1.0 X 0 0 0 Leo Fleishman 40.0 X 126745 0 26006 Randall Miller 1.0 X 0 0 0 ESTELLE COOKE-SAMPSON 1.0 X 0 0 0 JUDITH DEIN 1.0 X 0 0 0 ROY JACKSON 1.0 X 0 0 0 ELLEN SMITH 1.0 X 0 0 0 JOHN SCIORTINO 1.0 X 0 0 0 HANS-FRIEDRICH MUELLER 40.0 X 127549 0 95308 ROBERT B ENEMARK 1.0 X 0 0 0 NORTON REAMER 1.0 X 0 0 0 NANCY EPPLER-WOLFF 1.0 X 0 0 0 WILLIAM SCUDDER CLAY 1.0 X 0 0 0 ROBERT DEMICHELE 1.0 X 0 0 0 JOHN J CASTELLANI 1.0 X 0 0 0 PATRICK DICERBO 1.0 X 0 0 0 Diane Blake 40.0 X 207350 0 28309 Therese McCarty 40.0 X 192010 0 55194 Penelope Adey 40.0 X 81900 0 56616 EDWARD SUMMERS 40.0 X 23694 0 2172 Stephen Dare 40.0 X 199087 0 79840 Matthew Malatesta 40.0 X 171341 0 31179 ELLEN BORKOWSKI 40.0 X 152639 0 29186 Valerie Barr 40.0 X 140410 0 21778 Alan Taylor 40.0 X 156231 0 26689 Harold Fried 40.0 X 146347 0 47457 ROBERT BAKER 40.0 X 144645 0 25134 DAVID MITCHELL HAYES 40.0 X 142589 0 24053 2486355 0 658796 82 false true false AJ Martini Inc 5 Lowell Avenue WINCHESTER MA 01890 construction 2400645 TIGER GLOBAL MANAGEMENT LLC 101 PARK AVENUE 48TH FLOOR NEW YORK NY 10178 INVESTMENT MANAGEMEN 1324078 UW MARX INC 20 GURLEY AVENUE TROY NY 12182 CONSTRUCTION 2110640 TURNER CONSTRUCITON COMPANY 22 CORPORATE WOODS BOULEVARD 4TH F ALBANY NY 12211 CONSTRUCTION 1345754 SCHMIDT SCHMIDT INC 2240 ROUTE 67 GALWAY NY 12074 CONSTRUCTION 609168 36 71017 2935220 17551143 1924613 20557380 TUITION & FEES 611710 93802268 93802268 ATHLETICS 713990 164297 164297 AUXILIARY ENTERPRISE 713990 21137328 857444 20279884 RENT BOOKSTORE 611710 18000 18000 AUXILIARY ICE RINK 713990 195769 195769 115317662 1503455 11742 1491713 233156 233156 0 32905 32905 32905 32905 235523125 218489426 17033699 17033699 17033699 90323 71017 133393 -43070 -43070 0 4255889 2975709 1280180 1280180 NONOPERATING REVENUE 900099 422547 422547 CGA INVESTMENT INCOME 900099 189433 189433 INTERCOLLEGIATE ATHLETICS AND OTHER SOURCES 900099 3304926 3304926 10166 10166 3927072 159842439 93802268 1108026 44374765 49024 49024 37795825 37795825 7000 7000 0 1958730 804104 865536 289090 56524 56524 46828800 42388758 1952448 2487594 5191655 4703251 214769 273635 8120377 6992618 481184 646575 3427152 3015606 205333 206213 446908 446908 544162 28000 516162 163380 163380 16906 16906 0 1120852 123826 997026 1783519 1540131 111100 132288 345350 210417 66153 68780 7797391 6882452 349406 565533 4019365 3965969 18088 35308 0 6781355 6153687 529966 97702 2872387 2378078 127923 366386 0 2280049 1775293 148168 356588 3664987 3664987 0 10742456 10742456 797133 202658 594475 OTHER EXPENSES 2575198 2072333 465255 37610 149386485 135999905 7806372 5580208 114985 119280 21793043 26656844 12942321 15105524 3218369 3347925 0 0 0 0 6522996 6338189 977598 1048525 1520947 896580 340220048 194493119 143817494 145726929 109515997 72406361 230708089 247117088 0 0 0 0 11780054 24539648 542911893 543302893 11546931 11828980 0 0 730947 815364 69602828 74056190 0 0 0 0 0 0 0 0 19133693 20993405 101014399 107693939 X 186680900 180671277 115499462 109693454 139717132 145244223 441897494 435608954 542911893 543302893 X 10455954 -16744494 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 16906 16906 false false Part II-B question i 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 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 0.68000 0.03000 true true true 101 101 151679365 67179500 84499865 62250982 29026169 33224813 83452310 69478649 13973661 42837290 28808801 14028489 145726929 FIXED INCOME 26444658 F INTERNATIONAL PRIVATE EQUITY 1922094 F VENTURE CAPITAL 3100322 F PRIVATE EQUITY 37359804 F HEDGED EQUITY FINDS 79870039 F EMERGING MARKETS 19496783 F DISTRESSED DEBT 13866423 F DOMESTIC EQUITY 34844990 F INTERNATIONAL EQUITY 14755755 F MULTY-STRATEGY 15456220 F 247117088 0 ASSET RETIREMENT OBLIGATIONS 1665200 FEDERAL STUDENT LOAN FUNDS 2473616 ACCRUED POST RETIREMENT BENEFI 11604016 PLIF & CGA 5250573 20993405 159842439 149386485 10455954 -12581253 -4163241 -16744494 -6288540 146073654 -12581253 -4163241 -16744494 162818148 -2975709 -2975709 159842439 152362194 2975709 2975709 149386485 149386485 Part III, Line 4 The College's collections are made up of approximately 3,000 objects and their estimated fair value is approximately $14,500,000. The College's policy is not to capitalize its collections. The College's collections are comprised of paintings and portraits, furniture, works on paper, scientific instrumentation, and other objects. During the year one of the collection items was reappraised at a lower value. The College's collections are held for educational, research, scientific, and curatorial purposes. All items are cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed periodically. All proceeds resulting from the deaccessioning of objects from the permanent collection are allocated for the benefit of the collections. During the years ended June 30, 2012 and 2011, no objects were deaccessioned. Part V, line 4 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, line 2 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 XI, LINE 8 LOSS ON DEFEASANCE OF DEBT (1,902,175) ALUMNI RELATIONS REVENUE (37,496) ATHLETIC FUNDRAISING EXP 133,393 ACTUARIAL ADJUSTMENT (2,346,797) ATHLETIC SPONSORSHIP AGREEMENT (10,166) TOTAL: (4,163,241) PART XII, LINE 2D LOSS ON DEFEASANCE OF DEBT (1,902,175) ALUMNI RELATIONS REVENUE (37,496) ATHLETIC FUNDRAISING EXP 133,393 ACTUARIAL ADJUSTMENT (2,346,797) ATHLETIC SPONSORSHIP AGREEMENT (10,166) TOTAL: (4,163,241) PART XII, LINE 4B Bookstore COGS, Part VIII, Line 10b (2,975,710) Part XIII, line 2d Bookstore COGS, Part VIII, Line 10b 2,975,710 true true true true true true true false false false false false false false false true false true Part I Question 3 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, privilages, 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. Part I Question 6A 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 form the U.S. Department of Education. 2. NSF-STEM Scholarships which are funded by the Federal Government. 3. TAP awards, NYS Merit Scholarships and Tuition/Maintenance Grants received from NYS for the HEOP Program. true Russia and the Newly Independent States Program Services Study abroad 30294 Europe (Including Iceland and Greenland) Program Services Study abroad 1498387 Sub-Saharan Africa Program Services Study abroad 125611 East Asia and the Pacific Program Services Study abroad 598123 South America Program Services Study abroad 229615 Middle East and North Africa Program Services Study abroad 80472 South Asia Program Services Study abroad 51053 North America Program Services Study abroad 18793 Central America and the Caribbean Program Services Study abroad 12200 Central America and the Caribbean Investments 145879805 Central America and the Caribbean Program Services RESEARCH 180 East Asia and the Pacific Program Services IT Support 910 East Asia and the Pacific Program Services RECRUITING 1021 East Asia and the Pacific Program Services RESEARCH 3668 Europe (Including Iceland and Greenland) Program Services RESEARCH 21153 Europe (Including Iceland and Greenland) Program Services STUDENT FELLOWSHIP 159 Europe (Including Iceland and Greenland) Program Services FUNDRAISING 3221 Europe (Including Iceland and Greenland) Program Services Educational Activity 180 Europe (Including Iceland and Greenland) Program Services RECRUITING 1162 Europe (Including Iceland and Greenland) Program Services FUNDRAISING 992 North America Program Services RECRUTING/COACHING 12948 North America Program Services STUDENT TRIP TO CANADA 3525 North America Program Services RESEARCH 5302 North America Program Services Educational Activity 373 South America Program Services RESEARCH 4569 South America Program Services RECRUTING(ADMISSIONS) 2402 South Asia Program Services RECRUTING(ADMISSIONS) 4889 South Asia Program Services Educational Activity 923 South Asia Program Services RESEARCH 535 Sub-Saharan Africa Program Services STUDENT FELLOWSHIP 2556 Sub-Saharan Africa Program Services RESEARCH 1487 East Asia and the Pacific Program Services SCHOLARSHIPS 2500 Europe (Including Iceland and Greenland) Program Services SCHOLARSHIPS 2667 Sub-Saharan Africa Program Services SCHOLARSHIP 1500 North America Program Services SCHOLARSHIP 333 148554665 48843 148603508 Scholarship East Asia/Pacific 2 2500 Student Acct 0 N/A Scholarship Europe/Iceland/Greenland 3 2667 Student Acct 0 N/A Scholarship Sub-Saharan Africa 1 1500 Student Acct 0 N/A Scholarship North America 1 333 Student Acct 0 N/A true false true true true false Part I, Line 2 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 32745 13170 19575 3200 18720 275 1087 GRIDIRON GOLF 31260 16885 14375 1063 7906 6469 200 8 97335 40962 56373 170 22379 27417 995 43512 161340 71017 90323 4433 49005 34161 995 44799 133393 -43070 true Alumni Council of Union College Inc 807 Union Street Schenectady NY 12308 146019466 501(c)(3) 49024 Book TO COVER EXPENSES 1 Higher Education Opportunity Program 78 168444 Book Cr to Student's a/c Union College General Scholarships 1536 31215555 Book Cr to Student's a/c Endowed Scholarships 562 4050606 Book Cr to Student's a/c Annual Restricted Scholarships 128 7830 853287 BOOK Cr to Student's a/c Work Study 827 936358 BOOK Supplemental Educational Opportunity Grant 380 312250 Book Cr to Student's a/c ROTC Scholarship 5 193542 Scholarships cr to student's a/c Supporting Scholars in Science And Engineering 10 57953 Book Cr to Student's a/c Part I, Line 2 ALL GRANTS AWARDED ARE BASED ON NEED 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. INTERNAL CONTROLS: 1. THE TOTAL SUM OF ALL SOURCES OF FINANCIAL AID, INCLUDING INSTITUTIONAL FUNDS, CANNOT EXCEED THE TOTAL COST OF ATTENDENCE FOR NON-NEED BASED FUND AND CALCULATED NEED FOR NEED-BASED FUNDS. 2. EACH YEAR THE FINANCIAL AID DEPARTMENT SETS IN DATATEL THE BUDGETED AMOUNT FOR EACH FUND. THIS IS THE MAXIMUM TOTAL THAT CAN BE SPENT DURING THE FISCAL YEAR FOR EACH FUND. 3. RESTRICTED SCHOLARSHIPS: COLLEGE RELATIONS RECEIVES A SPREADSHEET FROM FINANCIAL AID LISTING ALL STUDENTS WHO RECEIVED AN ANNUAL RESTRICTED SCHOLARSHIP. FOR THE SCHOLARSHIPS THAT ARE STEWARDED, THE INFORMATION ON THIS LIST IS VERIFIED, SUCH AS SPELLING OF NAME AND CLASS YEAR. COLLEGE RELATIONS ALSO VERIFIES THAT THE AWARD GIVEN MATCHES THE AMOUNT DETERMINED WOULD BE SPENT OUT OF THE ACCOUNT. COLLEGE RELATIONS ALSO VERIFIES THAT THE RESTRICTIONS ON THE ACCOUNTS WERE PROPERLY MET. 4. ENDOWED SCHOLARSHIPS: THE BUDGET AMOUNT INDICATED IN DATATEL IS THE MAXIMUM AMOUNT THAT MAY BE AWARDED TO A STUDENT. (A) ON A MONTHLY BASIS, THE DIRECTOR OF FINANCIAL REPORTING AND ANALYSIS UPDATES THE ENDOWMENT SUBLEDGER (WHICH IS EXCEL BASED) FOR ALL ENDOWED EXPENDITURES, INCLUDING EXPENSES CHARGED TO THE ENDOWED SCHOLARSHIP ACCOUNTS. ANY POTENTIAL DISCREPANCIES ARE BROUGHT TO THE ATTENTION OF THE DIRECTOR OF FINANCIAL AID TO BE EXPLAINED AND CORRECTED IF NECESSARY. (B) COLLEGE RELATIONS RECEIVES A SPREADSHEET FROM FINANCIAL AID LISTING ALL STUDENTS WHO RECEIVED AN ENDOWED SCHOLARSHIP. FOR THE SCHOLARSHIPS THAT ARE STEWARDED, THE INFORMATION ON THIS LIST IS VERIFIED, SUCH AS SPELLING OF NAME, AND CLASS YEAR. COLLEGE RELATIONS ALSO VERIFIES THAT THE AWARD GIVEN MATCHES THE AMOUNT AVAILABLE FROM THE SPREADSHEET SENT BY THE DIRECTOR OF FINANCIAL REPORTING AND ANALYSIS. COLLEGE RELATIONS ALSO VERIFIES THAT THE RESTRICTIONS ON THE ACCOUNTS WERE PROPERLY MET. X X X X false false X X X X false true false false false false false false false Stephen Ainlay 399066 0 0 74752 0 45675 0 64200 0 583693 0 36215 0 Diane Blake 201350 0 0 0 6000 0 22887 0 5422 0 235659 0 0 0 Therese McCarty 175510 0 0 0 16500 0 22038 0 33156 0 247204 0 0 0 Valerie Barr 140410 0 0 0 0 0 16284 0 5494 0 162188 0 0 0 Alan Taylor 139731 0 0 0 16500 0 17833 0 8856 0 182920 0 0 0 Stephen Dare 198144 0 0 0 943 0 22660 0 57180 0 278927 0 0 0 Matthew Malatesta 171341 0 0 0 0 0 19265 0 11914 0 202520 0 0 0 Harold Fried 146347 0 0 0 0 0 15138 0 32319 0 193804 0 0 0 Leo Fleishman 126745 0 0 0 0 0 14291 0 11715 0 152751 0 0 0 HANS-FRIEDRICH MUELLER 127549 0 0 0 0 0 13735 0 81573 0 222857 0 0 0 ELLEN BORKOWSKI 151139 0 0 0 1500 0 17554 0 11632 0 181825 0 0 0 ROBERT BAKER 144645 0 0 0 0 0 16320 0 8814 0 169779 0 0 0 DAVID MITCHELL HAYES 142589 0 0 0 0 0 15273 0 8780 0 166642 0 0 0 Part I - Line 1A 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 included in the individuals Form W-2, where appropriate. 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 a part of his employment contract the college provides routine housekeeping. The college also provides a gardner. The expense is included in 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 $18,725 in 2011. County of Schenectady Industrial Development Agenc 141699509 2005-12-22 6150000 Renovate college's fitness center false false false City of Schenectady Industrial Development Agency 141699509 806143BF3 2006-11-22 33356354 Refinance Series 1999 IDA bonds true false false Schenectady County Capital Resource 273478847 2010-12-23 15310000 Fund facilities renewal plan false false false Schenectady County Capital Resource Corporation 273478847 806418AT6 2012-04-26 24263434 Refinance portion of Series 2001 true false false 0 0 6150000 0 0 0 98667 0 0 6051333 0 0 2009 false false true true 0 30030000 33356354 0 0 0 410663 0 0 32945691 0 0 2005 false true true true 0 0 9291185 0 152924 0 291184 0 0 9000000 0 0 false false false 0 24287175 24263434 0 0 23729008 470121 0 0 23793313 0 0 2005 true true false false false false false 0.00000 0.01600 0.01600 true false false false false 0.00000 0.01200 0.01200 true false false false false 0 0.01900 0.01900 true false false false false 0.06330 0.01830 0.08160 true false true true Bank of America 8.4 false false 0 false false false false 0 false 0 false false false true true JP MORGAN CHASE 6. false false false 0 false false false false false 0 false 0 false false X SEE SCHEDULE O 0 Diane Blake Officer 84923 Brother-in-law college employe false Stephen Ainlay Officer/Trustee 56524 Spouse - College employee false Kelly Williams Trustee 160445 mgmt fees paid to CS false X 1 30 Opinions of experts X 12 Opinions of experts X 2490 Opinions of experts X 71 836071 Market value X 1 4700 Opinions of experts X 12 4958 Cost X Computer Equipment 2 1007209 cost X Athletic Broadcasts/Events - Other 28 45580 selling price X campus events 7 14055 selling price X miscellaneous 7 9508 cost 1 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-A, Question 1 There are 47 trustees listed on Part VII, Section A; however only 36 of these trustees have voting rights. Of the 47 trustees, 8 are trustees emeriti which do not 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. Norton Reamer was Trustee Emeritus through April 2012 then became Life Trustee in May 2012. Part VI-A, Question 2 1. Stephen Ritterbush & Kathy Magliato - Business Relationship 2. David Breazzano & James Taylor - Business Relationship 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. Part VI-B, Question 11 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-B, Question 12c 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, 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. *Currently defined as those employees, other than officers or Trustees, who: had reportable compensation of $150,000 or greater on a calendar year basis; had or shared organization-wide control or influence similar to that of an officer or Trustee, or managed or had authority or control over at least 10% percent of the College's activities; and were within that group of the College's top 20 highest paid persons for the year who satisfied both of the foregoing two tests. Part VI-C, Question 19 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 VII, Column B The following individuals listed in Part VII, Column A also devote hours to the following related organizations: - John Sciortino, Trustee (thru March 2012) - Alumni Council; .25 hours per week (March 2012-June 2012) - Stephen Ainlay, Key Employee - Alumni Council (ex-officio); .25 hours per week Part XI, Line 5 Other changes in net assets or fund balances included in Line 5 are: net unrealized losses $(12,581,253) LOSS ON DEFEASANCE OF DEBT (1,902,175) ALUMNI RELATIONS REVENUE (37,496) ATHLETIC FUNDRAISING EXP 133,393 ACTUARIAL ADJUSTMENT (2,346,797) ATHLETIC SPONSORSHIP AGREEMENT (10,166) TOTAL: $(16,744,494) SCHEDULE K, PART VI - Supplemental Information Part II - Proceeds BOND ISSUE 2006: Union College received $33,356,354 in proceeds from the City of Schenectady Industrial Development Agency Civic Facility Refunding Revenue Bonds (Union College Project), Series 2006. These proceeds were used to refinance the 1999 issue and a portion of the 2001 issue. Initially, all proceeds (with the exception of proceeds used for costs of issuance) were placed into an escrow account. Proceeds would remain in the escrow account until the bonds could be called, which was 10 years from the original date of issue. As of June 30, 2012, the 1999 and 2001 debt had been paid off. The date of substantial completion, 2005, represents the year in which the projects related to the 2001 debt (that was refinanced by the 2006 debt) were substantially complete. BOND ISSUE 2012: UNION COLLEGE RECEIVED $24,263,434 IN PROCEEDS FROM THE SCHENECTADY COUNTY CAPITAL RESOURCE CORPORATION CIVIC TAX-EXEMPT REVENUE BONDS (UNION COLLEGE REFUNDING PROJECT), SERIES 2012A. THESE PROCEEDS WERE USED TO REFINANCE THE 2003 ISSUE AND THE REMAINING OUTSTANDING PORTION OF THE 2001 ISSUE. INITIALLY, PROCEEDS FROM THE 2003 PORTION OF THE REFUNDING WERE PLACED INTO AN ESCROW ACCOUNT. PROCEEDS WOULD REMAIN IN THE ESCROW ACCOUNT UNTIL THE BONDS COULD BE CALLED IN 2013. AS OF JUNE 30, 2012, THE 2003 DEBT HAD BEEN PAID OFF. THE DATE OF SUBSTANTIAL COMPLETION, 2005, REPRESENTS THE YEAR IN WHICH THE PROJECTS RELATED TO THE 2003 DEBT (THAT WAS REFINANCED BY THE 2012 DEBT) WERE SUBSTANTIALLY COMPLETE. 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 6/30/2012. Part III, Lines 4, 5, and 6 BOND ISSUE 2012: TO CALCULATE THE PERCENTAGE ON LINES 4, 5 AND 6, THE TOTAL PROCEEDS BORROWED WAS 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, 2012. THE COLLEGE HAS A PLAN TO REDUCE THE CONFERENCING ACTIVITY 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. 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 TRUST (1) Investing NY Union College CLAT CHARITABLE REMAINDER ANNUITY TRUST (1) Investing CT Union College CRAT CHARITABLE REMAINDER UNITRUST (10) Investing Union College CRUT INCOME BENEFICIARY TRUSTS (3) INVESTING UNION COLLEGE TRUST false true false false false false false false true false true false false false false true false false 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 BENEFICIARY TRUSTS LISTED ON LINE 4 OF PART IV HAVE THE FOLLOWING LEGAL DOMICILES: 2 - NY 1 - NJ