2013-05-13T13:34:22-05:00 2012-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2011-07-01 030179403 SAINT MICHAEL'S COLLEGE % SHIRLEY GOODELL-LACKEY STMI 8026542586 ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 NEAL E ROBINSON 2013-05-10 6179881000 2011 2016-02-24 21:20:13Z NEAL E ROBINSON ONE WINOOSKI PARK BOX 274 COLCHESTER VT 05439 114886855 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. 29 27 2083 1596 76151 -26979 5037830 6853068 91828277 97152264 2623401 510371 1323099 762062 100812607 105277765 25377966 29047065 0 0 39688298 41489126 0 0 2109473 32623305 33563702 97689569 104099893 3123038 1177872 168246990 191735079 46829783 71395320 121417207 120339759 X 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. false false 59394819 29047065 76470601 ACADEMIC PROGRAM AND FINANCIAL SUPPORT, SEE SCHEDULE O 20013367 20681663 AUXILIARY ENTERPRISES, SEE SCHEDULE O 10645804 STUDENT SERVICES, SEE SCHEDULE O 2187568 92241558 true true false true false false false false false true true true false false true true false true true true true true true false true true false true true true true false false false false false false true false false true true false false false false true true true false false true 5225 1 true 2083 true true true true EI CJ UC false false false true true false false false false X 29 27 false false false false false false false true true false false false true true true true true true true false VT X X SHIRLEY GOODELL-LACKEY 8026542586 ONE WINOOSKI PARK COLCHESTER VT 05439 WILLIAM H GALLAGHER 2.0 X 0 0 0 DR SULTAN AHAMED 1.0 X 0 0 0 SR PEG ALBERT OP PHD 1.0 X 0 0 0 SR LORRAINE AUCOIN PM 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 4.0 X 0 0 0 REV DAVID G CRAY SEE 2.0 X 0 0 0 VERY REV MICHAEL CRONOGUE SSE 8.0 X 0 0 0 DONALD R DION JR 1.0 X 0 0 0 MARK J DORAN 1.0 X 0 0 0 MICHELE S GATTO 1.0 X 0 0 0 GERARD J GOULD 1.0 X 0 0 0 REV THOMAS FX HOAR SSE 2.0 X 0 0 0 R ALAN HUNTER JR 2.0 X 0 0 0 REV MICHAEL P JACQUES SSE 1.0 X 0 0 0 NORIKO KAMEDA 1.0 X 0 0 0 SR JACQUELINE MARIE KIESLICH RSM 1.0 X 0 0 0 REV MSGR JOHN J MCDERMOTT 1.0 X 0 0 0 MICHAEL E MCGRATH 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 1.0 X 0 0 0 BARRY D ROY 4.0 X 0 0 0 REV DAVID J THEROUX SSE 1.0 X 15840 0 0 DR PEGGY R WILLIAMS 1.0 X 0 0 0 DR JOHN J NEUHAUSER 40.0 X X 373732 0 89272 NEAL E ROBINSON 40.0 X 180015 0 24028 MARILYN E CORMIER 40.0 X 82452 0 37033 MICHAEL J NEW 40.0 X 138290 0 15640 KAREN A TALENTINO 40.0 X 175902 0 24499 JERRY E FLANAGAN 40.0 X 129985 0 41992 MICHAEL D SAMARA 40.0 X 132690 0 20664 PATRICK J GALLIVAN 40.0 X 137756 0 15537 WILLIAM O ANDERSON 40.0 X 249888 0 54807 PAUL J LECLAIR 40.0 X 175779 0 3752 ANNE MCCONNELL PEASE 40.0 X 166744 0 6264 THOMAS B ANDERSEN 40.0 X 140703 0 8372 GREGG NIXON BLASDEL 40.0 X 125418 0 7998 2225194 0 349858 33 false true false FREEMAN FRENCH FREEMAN INC 81 MAPLE STREET BURLINGTON VT 05401 ARCHITECTS 712692 ACSYS INC 6 EXECUTIVE DRIVE SUITE 106 FARMINGTON CT 06032 WEBSITE DEVELOPMENT 312346 ROYALL COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 RECRUIT CONSULANTANT 294040 CONNECTICUT GENERAL LIFE INSURANCE 900 GROVE ROAD BLOOMFIELD CT 06002 HEALTH INSUR. ADMIN 217642 COMPETITIVE COMPUTING INC 354 MOUNTAIN VIEW DRIVE COLCHESTER VT 05446 IT CONSULTANTS 170272 8 32114 2203846 4617108 92192 6853068 TUITON AND FEES 611710 76470601 76470601 RESIDENCE AND DINING 721310 16617697 16617697 BOOKSTORE 451211 1377481 1377481 CONFERENCE CENTER 531390 278108 84041 194067 SMC PLAYHOUSE 713940 432922 432922 1975455 1975455 97152264 629643 -7890 637533 0 0 415815 0 415815 0 415815 415815 9421345 33564 9414053 160128 7292 -126564 -119272 -119272 39725 32114 32659 7066 7066 64064 2250 61814 61814 0 OTHER OPERATING INCOME 900099 277367 277367 277367 105277765 95496675 76151 2851871 20000 20000 28155517 28155517 871548 871548 0 1683479 561273 866250 255956 0 29122490 24832006 3317698 972786 2254794 1964373 199081 91340 6217146 5313656 714776 188714 2211217 1832637 292551 86029 0 81613 81613 129650 129650 420 420 0 0 0 0 8866487 5760819 2715902 389766 0 0 5170048 4765614 404434 2299754 1790501 384371 124882 0 0 1396856 1351942 44914 0 6984825 6387623 597202 0 RESALE ITEMS 5577619 5577619 LIBRARY ACQUISITIONS 763253 763253 STUDY ABROAD EXPENDITURES 2293177 2293177 104099893 92241558 9748862 2109473 7107374 7592795 0 0 1740473 1738093 1015115 1088123 0 0 0 0 5477625 5336547 460215 458778 1992739 1727916 166257099 94212054 71704566 72045045 13785141 13995625 64311155 87018834 0 0 0 0 652587 733323 168246990 191735079 4730570 7817505 0 0 1841546 1974456 27911099 50990332 0 0 0 0 334338 169421 0 0 12012230 10443606 46829783 71395320 X 78446489 76395983 14902017 14499685 28068701 29444091 121417207 120339759 168246990 191735079 X 1177872 -2255320 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false true 420 false false false 420 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 $420 OF THIS AMOUNT WAS ALLOCATED TO LOBBYING. 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 0.42000 0.15000 false false 2335261 2335261 118853210 64564127 54289083 35531842 26440950 9090892 9536786 3206977 6329809 72045045 CASH EQUIVALENTS 1738461 F DOMESTIC EQUITIES INDEX FUND 4953505 F GLOBAL EQUITIES MUTUAL FUNDS 28954952 F HEDGE FUND-OF-FUNDS & P.E. 15681250 F DEPOSITS WITH BOND TRUSTEES 28694002 F DIRECT HEDGE FUND 4495678 F SUBORDINATED DEBT 2148007 F REAL ESTATE 352979 F 87018834 0 OTHER LIABILITIES 3081895 AMTS HELD ON BEHALF OF OTHERS 2130187 REFUNDABLE ADVANCES 4208540 ANNUITY OBLIGATION 121532 CAPITAL LEASE OBLIGATIONS 901452 10443606 105277765 104099893 1177872 -2193506 -61814 -2255320 -1077448 74042109 -2193506 -2193506 76235615 29042150 29042150 105277765 75119557 32659 32659 75086898 29012995 29012995 104099893 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. RECONCILIATION OF CHANGE IN NET ASSETS PART XI, LINE 8 ATHLETICS SUPER RAFFLE PROCEEDS $ (61,814) OTHER REVENUE INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XII, LINE 4B ATHLETICS SUPER RAFFLE PROCEEDS $ 61,814 STUDENT FINANCIAL AID $ 29,012,995 SPECIAL EVENTS EXPENSES $ (32,659) ----------------- TOTAL $ 29,042,150 OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XIII, LINE 2D SPECIAL EVENTS EXPENSES $ 32,659 OTHER EXPENSES INCLUDED ON RETURN NOT IN FINANCIAL STATEMENTS PART XIII, LINE 4B STUDENT FINANCIAL AID $ 29,012,995 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 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 0 0 Program Services SHORT-TERM PROGRAM 29131 Europe (Including Iceland and Greenland) 0 0 Program Services SHORT-TERM PROGRAM 64992 South America 0 0 Program Services SHORT-TERM PROGRAM 14684 South Asia 0 0 Program Services SHORT-TERM PROGRAM 24158 Central America and the Caribbean 0 0 Program Services SERVICE - DONATION 7070 South Asia 0 0 Program Services SERVICE - DONATION 7000 Central America and the Caribbean 0 0 Program Services RECRUITING 228 Europe (Including Iceland and Greenland) 0 0 Program Services RECRUITING 19208 South America 0 0 Program Services RECRUITING 6009 East Asia and the Pacific 0 0 Program Services RECRUITING 3596 North America 0 0 Program Services RECRUITING 5634 East Asia and the Pacific 0 7 AGENT 87384 Europe (Including Iceland and Greenland) 0 1 AGENT 4019 South America 0 2 AGENT 10614 Middle East and North Africa 0 1 AGENT 730 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 97634 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 608181 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 1580924 Russia and the Newly Independent States 0 0 Program Services STUDY ABROAD 26090 South America 0 0 Program Services STUDY ABROAD 114710 South Asia 0 0 Program Services STUDY ABROAD 95170 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 230717 South Asia 0 0 Program Services SERVICE TRIP 28353 Central America and the Caribbean 0 0 Program Services SERVICE TRIP 2076 Central America and the Caribbean 0 0 Investments 6739712 Europe (Including Iceland and Greenland) 0 0 Investments 11889426 0 11 0 0 0 11 990272 20707178 21697450 South Asia GENERAL SUPPORT 7000 WIRE Cent. America/Caribbean GENERAL SUPPORT 7070 CHECK 2 0 STUDENT SCHOLARSHIPS Cent. America/Caribbean 4 27543 STUDENT A/C STUDENT SCHOLARSHIPS East Asia/Pacific 22 178610 STUDENT A/C STUDENT SCHOLARSHIPS Europe/Iceland/Greenland 57 480520 STUDENT A/C STUDENT SCHOLARSHIPS Russia 1 14700 STUDENT A/C STUDENT SCHOLARSHIPS South America 5 40480 STUDENT A/C STUDENT SCHOLARSHIPS South Asia 4 42625 STUDENT A/C STUDENT SCHOLARSHIPS Sub-Saharan Africa 10 73000 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 are expenses related to travel in China, Korea, Germany, Turkey, Venezuela, Spain, Costa Rica, Honduras, United Kingdom, Greece, Nicaragua, The Netherlands, Portugal, and Canada. 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 Master's 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 do 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 have 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 71839 32114 39725 8486 18250 5080 843 0 71839 32114 39725 8486 18250 5080 843 32659 7066 64064 1500 750 true 1.00000 64064 1500 750 2250 61814 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 0.00000 SHIRLEY GOODELL-LACKEY CONTROLLER ST MICHAELS COLLEGE ONE WINOOSKI COLCHESTER VT 05439 false GERALDINE KNORTZ ATHLETICS DIRECTO ORGANIZE AND COORDINATE THE ATHLETICS SUPER RAFFLE X false true BOYS & GIRLS CLUB OF BURLINGTON 62 OAK STREET BURLINGTON VT 05401 030179307 501(c)(3) 10000 SSE DBA SAINT ANNE'S SHRINE PO BOX 280 ISLE LA MOTTE VT 05463 030195115 501(C)(3) 10000 2 STUDENT SCHOLARSHIPS 1099 24990692 UNDERGRADUATE ENDOWMENT FUNDED SCHOLARSHIPS 323 1790702 UNDERGRADUATE ATHLETIC GRANTS 20 925776 FED SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS 315 401320 GRADUATE STUDENT GRANTS 41 47027 GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE U.S. PART II, COLUMN H The contribution to the Burlington Boys and Girls Clubs was made to provide general support of their mission to inspire and enable community youth, especially those who need it most, to realize their full potential as productive, healthy, responsible and caring citizens. Our Mobilization of Volunteer Efforts (MOVE) administrators and students work with this group 2-3 times a week providing leadership and fun for the children participating in the Club's after school program. Also, the College incorporates the Club into the Education Department's classroom curriculum by providing mentoring to the youth of the Club. The contribution to Saint Anne's Shrine was made to provide support of their mission to serve as a welcoming place of peace and hope ministering to all Gods 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 College. 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. 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 2011-2012, THE COLLEGE ADMINISTERED OVER $48 MILLION IN ASSISTANCE, OF WHICH APPROXIMATELY $29 MILLION WAS PRIMARILY COLLEGE FUNDED SCHOLARSHIPS OR GRANTS. THE FIVE-YEAR AVERAGE (2007-2011) OF UNDERGRADUATE STUDENTS RECEIVING COLLEGE FUNDED AID WAS 88.2%. 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 2011 INCOMING CLASS WAS APPROXIMATELY $18,924. 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 368638 0 0 0 5094 0 43376 0 45896 0 463004 0 0 0 NEAL E ROBINSON 180015 0 0 0 0 0 10035 0 13993 0 204043 0 0 0 MICHAEL J NEW 138290 0 0 0 0 0 7593 0 8047 0 153930 0 0 0 KAREN A TALENTINO 175902 0 0 0 0 0 9760 0 14739 0 200401 0 0 0 JERRY E FLANAGAN 128935 0 0 0 1050 0 7188 0 34804 0 171977 0 0 0 MICHAEL D SAMARA 131055 0 0 0 1635 0 7383 0 13281 0 153354 0 0 0 PATRICK J GALLIVAN 135896 0 0 0 1860 0 7506 0 8031 0 153293 0 0 0 WILLIAM O ANDERSON 249888 0 0 0 0 0 7068 0 47739 0 304695 0 0 0 PAUL J LECLAIR 175779 0 0 0 0 0 2646 0 1106 0 179531 0 0 0 ANNE MCCONNELL PEASE 166744 0 0 0 0 0 2512 0 3752 0 173008 0 0 0 COMPENSATION INFORMATION PART II For eligible employees, column (D) nontaxable benefits primarily consists of health care and dental benefits paid by the College. Other reportable compensation and column (D) nontaxable benefits are listed below: 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. Jerry E. Flanagan - Column B(iii) includes personal use of a College vehicle. Column (D) includes tuition remission. Michael D. Samara - Column B(iii) includes personal use of a College vehicle. Patrick J. Gallivan - Column B(iii) includes personal use of a College vehicle. William O. Anderson - Column (D) includes tuition remission. VT EDUCATIONAL & HEALTH BLDG FINANCE AGY 237154467 924166FM6 2012-05-24 50990332 CONSTRUCTION, EQUIPMENT, REFUNDING false false false 11962636 10964673 50990332 0 0 0 563023 0 0 27500000 0 0 2013 true true false false false false true true false 0.00000 0.00000 0.00000 false true false false 0 false 0 false false X NA N/A 34555 TUITION REMISS. PATRICIA CASEY MAGUIRE ASSOCIATES 130000 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 $130,000 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 19880 FMV X 18 72312 FMV 1 false true true NON-CASH CONTRIBUTIONS LINE 4 & 9 The College is reporting the number of contributions related to each type of property that was received during FY12. 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 500 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 PROGRAM 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 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 22 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 Master's degrees in Clinical Psychology, Education and Teaching English to Speakers of Other Languages. Saint Michael's College awarded 482 Bachelor's degrees and 113 Master's degrees during 2011-2012 academic year with, 1936 students enrolled in Baccalaureate degree programs and 571 in Master's degree programs. The class of 2012 had 423 graduates in May, of which 249 or 59% also earned Minors and 25% of those students earned more than one minor. After receiving a Bachelor's 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 compared favorably to the 70% reported by Act National Graduation rates for private 4-year institutions offering only bachelor's 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 2011 - 2012, 253 students engaged in supervised academic internships, compared with 265 in the previous year. In the summer of 2012, 47 students were engaged in independent research with professors, and this compares with 46 students in the summer of 2011 and 38 students in the summer of 2010. The College has a robust honors program which began in the late 1980's, and recognizes high achievement among our students. In 2012, 53 students (or 11% of the senior class) graduated in the honors program. In the spring of 2013, 425 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 150 members of the class of 2012. 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. with such a chapter. The College is identified in the 2013 Edition of the Princeton Review as one of the Nation's best 377 Colleges, is included in the prestigious Fiske Guide to Colleges in 2013 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 176th out of 650 best undergraduate institutes in Forbes magazine's America's Top Colleges' Edition. In 2013 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. 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 are 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 99% 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 2012. Saint Michael's College has been recognized as a recipient of the first Division II Presidents' Award for Academic Excellence as a member of the Northeast-10 Conference, achieving the highest four year ASR. A total of five Northeast-10 athletic programs made the list. 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 are 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. GOVERNING DOCUMENT CHANGES FORM 990, PART VI, SECTION A, LINE 4 The Amended Articles of Incorporation and Bylaws of the Board of Trustees were amended February 10, 2010 but there were no significant changes that affected the overall mission or operations of the College. The Bylaws were amended to add attendance requirements for Trustees meetings; the discrimination prohibition article was updated for current state and federal laws and other minor wording changes. 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, 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 2012. 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 our website. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSSES ON INVESTMENTS $ (2,193,506) GAMBLING INCOME INCLUDED IN LIABILITY ACCOUNT $ (61,814) ----------- OTHER CHANGE IN NET ASSETS OR FUND BALANCES $ (2,255,320) FINAL ALLOCATIONS OF PROCEEDS AND INVESTMENT BEYOND A TEMPORARY PERIOD SCHEDULE K, PART II, LINES 16-17 & 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 late fall 2013 once all contractor invoices have been received. The College maintains books and records to support that allocation and to request reimbursement of 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 are expected to be fully expended by September 2013. ADOPTION OF MANAGEMENT PRACTICES SCHEDULE K, PART III, LINE 7 The College is working with consultants and bond council to make certain College personnel is familiar with the rules and regulations for post-issuance compliance of its tax-exempt bond liabilities. A policy has been created, reviewed and implemented by management. The policy will be presented to the Board of Trustees for approval. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION SCHEDULE K, PART V After the close of the fiscal period, the College developed policies and procedures to identify and address any violations of federal tax requirements pursuant to a voluntary closing agreement program where self-remediation may be unavailable. 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)(13) NA true CHARITABLE REMAINDER TRUST (1) CRT VT NA TRUST 0 false false false false false false false false false false false false true true false true false false SAINT MICHAEL'S COLLEGE FIRE AND RESCUE M 75000 FMV SAINT MICHAEL'S COLLEGE FIRE AND RESCUE P 59611 COST