2013-05-14T17:58:54-05:00 2012-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2011-07-01 135562167 BANK STREET COLLEGE OF EDUCATION % FRANK NUARA BANK 2128754400 610 WEST 112TH STREET NEW YORK NY 100251120 FRANK NUARA 2013-05-14 true 2127589700 2011 2016-02-24 21:20:13Z ELIZABETH DICKEY 610 WEST 112TH STREET NEW YORK NY 10025 76024465 false X www.bankstreet.edu X 1931 NY BANK STREET COLLEGE OF EDUCATION IS AN INDEPENDENT CO-EDUCATIONAL INSTITUTION OFFERING AN ELEMENTARY SCHOOL AND A GRADUATE TEACHERS COLLEGE. 31 30 987 30 1198103 -20277 13680380 15656344 40436845 42280770 1605385 1518320 1560352 2476998 57282962 61932432 6380379 6213679 0 0 34115683 37598592 0 0 1088705 15224577 16381460 55720639 60193731 1562323 1738701 67479423 65865018 26097152 24465928 41382271 41399090 X IMPROVE THE EDUCATION OF CHILDREN AND THEIR TEACHERS BY APPLYING TO THE EDUCATIONAL PROCESS ALL AVAILABLE KNOWLEDGE ABOUT LEARNING AND GROWTH, AND BY CONNECTING TEACHING AND LEARNING MEANINGFULLY TO THE OUTSIDE WORLD. FOR MORE INFORMATION, SEE SCHEDULE O. false false 16870194 3156720 20108572 BANK STREET COLLEGE OF EDUCATION IN NEW YORK CITY HAS TWO EDUCATIONAL DIVISIONS. THE GRADUATE SCHOOL PREPARES OUTSTANDING TEACHERS AND LEADERS IN SCHOOLS, MUSEUMS, AND OTHER EDUCATIONAL SETTINGS. OUR GRADUATE DEGREES IN EDUCATION PROVIDE OUR STUDENTS WITH A THOROUGH, RIGOROUS, HUMANISTIC FOUNDATION FOR THEIR CAREERS IN EARLY CHILDHOOD, ELEMENTARY, AS WELL AS EDUCATIONAL LEADERSHIP, MUSEUM EDUCATION, CHILD LIFE, AND READING AND LITERACY. WE TRAIN EDUCATORS TO FIND WAYS TO MAKE LEARNING VITAL, ACTIVE, AND CREATIVE FOR CHILDREN FROM DIVERSE BACKGROUNDS WHO COME TO THE CLASSROOM WITH THE BROAD RANGE OF LEARNING STYLES. 16474987 3056959 22393026 IN CHILDREN'S PROGRAMS, BANK STREET HAS BEEN SERVING STUDENTS FOR ALMOST 100 YEARS. IT DOES SO BY PROVIDING HIGH QUALITY EARLY CHILDHOOD PROGRAMS THROUGH AN ONSITE FAMILY CENTER AND AN INDEPENDENT DEMONSTRATION SCHOOL FOR CHILDREN, AS WELL AS THROUGH ITS AFTER SCHOOL AND SUMMER CAMP PROGRAMS. THE FAMILY CENTER, THE SCHOOL FOR CHILDREN, AFTER SCHOOL AND SUMMER CAMP ARE REFERRED TO AS "CHILDREN'S PROGRAMS" AT BANK STREET, AND ARE ADMINISTERED BY THE DEAN OF CHILDREN'S PROGRAMS. 6866169 203558 Innovation, Policy & Research - Bank Street has filled an essential niche in the world of education by fulfilling four distinctive yet mutually interdependent functions. Creating constructive environment for children through its excellence in our Liberty Leads Program and Head Start Program, by influencing policy that supports the growth and development of children, developing educative materials for children and adults and lastly by merging theory and practice. 5134696 552230 45346046 true true false true false false false false false true true false false false true true true false true false false false false false true false false false true true false false false false false false false false false false false false false false false false false false true 361 0 true 987 true true true false false false false true true false false false false X 31 30 false false false false false false false true true false false true true true true true true true true false X FRANK NUARA 2128754400 610 WEST 112TH STREET NEW YORK NY 10025 ANTHONY ASNES 1.0 X X 0 0 0 RIC BURNS 1.0 X 0 0 0 JAY CHAKRAPANI 1.0 X 0 0 0 TIFFANI CHAMBERS 1.0 X 0 0 0 SUZANNE BRATONE CHILDS 1.0 X 0 0 0 JONATHAN COLE 1.0 X 0 0 0 DR BETTYE R FLETCHER COMER 1.0 X 0 0 0 GABRIELLA DE FERRARI 1.0 X 0 0 0 CATHERINE DOYLE 1.0 X 0 0 0 LOREN ENG 1.0 X 0 0 0 YOLANDA C FERRELL-BROWN 1.0 X 0 0 0 FELICE SHAPIRO FRIEDMAN 1.0 X 0 0 0 SARAH GUND 1.0 X 0 0 0 VICTORIA HAMILTON 1.0 X 0 0 0 SUE KAPLAN 1.0 X X 0 0 0 KENNETH B LERER 1.0 X 0 0 0 ADAM H LITKE 1.0 X 0 0 0 CHRISTOPHER MEYER 1.0 X 0 0 0 JOEL H MOSER 1.0 X 0 0 0 MICHAEL T NETTLES 1.0 X 0 0 0 DR LAURA PARSONS 1.0 X 0 0 0 ELIZABETH S PFORZHEIMER 1.0 X X 0 0 0 SANDRA PINNAVAIA 1.0 X 0 0 0 JENNIFER RUSSELL 1.0 X 0 0 0 ANNE SHUTKIN 1.0 X 0 0 0 MARGARET L STEVENS 1.0 X X 0 0 0 HOWARD S STEIN 1.0 X 0 0 0 LYNN G STRAUS 1.0 X X 0 0 0 JEFFREY I SUSSMAN 1.0 X X 0 0 0 NORMAN R WALKER 1.0 X 0 0 0 KATE R WHITNEY 1.0 X X 0 0 0 DEBBIE ZLOTOWITZ 1.0 X 0 0 0 ELIZABETH DICKEY 40.0 X X 287670 0 87947 ALEXIS WRIGHT 40.0 X 238889 0 43594 JOHN SNYDER 40.0 X 274776 0 44713 FRANK NUARA 40.0 X 224617 0 17053 JOHN BORDEN 40.0 X 198915 0 43415 FERN KHAN 40.0 X 141512 0 8851 VIRGINIA CASPER 40.0 X 157537 0 21685 BARBARA COLEMAN 40.0 X 202048 0 25814 ARLEN RAUSCHKOLB 40.0 X 156971 0 32045 LESLY PIERRE 40.0 X 116945 0 34988 1999880 0 360105 45 false true false GRANT THORNTON LLP 33570 TREASURY CENTER CHICAGO IL 606943500 ACCOUNTING 258297 HLW INTERNATIONAL LLP 115 FIFTH AVENUE NEW YORK NY 10003 FACILITIES CONSULT 145849 FABIANI COMPANY 1101 PENNSYLVANIA AVE NW STE 700 WASHINGTON DC 20004 GOVERNMENT RELATIONS 121492 MACRO CONSULTANTS LLC 1040 AVENUE OF THE AMERICAS 9TH FL NEW YORK NY 100164796 PLANNING SERVICES 119259 POOSANGUANSIT WATT 19 EAST 108TH STREET 2FW NEW YORK NY 10029 WEB SITE DEVELOPMENT 113560 6 63460 8529887 7062997 15656344 TUITION AND FEES 611600 41522519 41522519 OTHER PROGRAM SERVICE REVENUE 900099 161818 161818 AUXILIARY ACTIVITIES 722100 596433 596433 42280770 736604 736604 0 77836 77836 19656 19656 19656 19656 13492727 12711011 781716 781716 781716 385045 63460 180258 204787 204787 0 2826501 1200764 1625737 427634 1198103 OTHER INCOME 900099 548982 548982 548982 61932432 43257386 1198103 1820599 0 6213679 6213679 0 0 2732068 1970134 706065 55869 0 23845844 17195584 6162630 487630 1626034 1172557 420226 33251 7046272 5081169 1821012 144091 2348374 1693447 606905 48022 0 152076 109664 39302 3110 301193 217195 77839 6159 114211 82359 29516 2336 0 246881 178029 63803 5049 5058984 3648107 1307425 103452 196632 141794 50817 4021 1969225 1420037 508919 40269 97499 70308 25197 1994 0 2980597 2149352 770294 60951 273084 196925 70575 5584 0 1401173 1010406 362114 28653 229050 165171 59195 4684 0 1601829 1155102 413971 32756 216459 156092 55941 4426 MEMBERSHIP AND OTHER FEES 97514 70319 25201 1994 BANK FEES 217760 157030 56277 4453 OTHER EXPENSES 1227293 1091586 125756 9951 60193731 45346046 13758980 1088705 9530677 11030280 4472237 1085289 4920429 6084480 606664 651097 0 0 0 0 0 0 388589 463106 1614175 1438969 40781787 26699936 14709052 14081851 30740309 30526283 0 0 497291 503663 0 0 0 0 67479423 65865018 5667770 4601976 0 0 8673916 7545611 4935793 4259657 0 0 0 0 0 0 0 0 6819673 8058684 26097152 24465928 X 19773907 18247002 9515408 8119582 12092956 15032506 41382271 41399090 67479423 65865018 X 1738701 -1721882 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 114211 114211 OTHER LOBBYING ACTIVITIES FORM 990, SCHEDULE C, PART 11-B Bank Street College of Education hired consulting firms that specialize in lobbying activities related the the higher education industry. The college paid $98,524 to lobbying consultants during the year ended June 30, 2012. IN ADDITION, THE COLLEGE IS A MEMBER OF VARIOUS ORGANIZATIONS THAT PROMOTE THE NEEDS OF HIGHER EDUCATION, AS WELL AS PROVIDE INFORMATION TO THE INDUSTRY (E.G. NACUBO). SEVERAL OF THESE ORGANIZATIONS ALLOCATE A PORTION OF THE ANNUAL DUES TO LOBBYING EFFORTS AND INFORM THE COLLEGE OF THE NON-DEDUCTIBLE PORTION OF ITS DUES IN AN ANNUAL LETTER. TO DATE, THE COLLEGE HAS NOT RECEIVED THE REQUIRED LETTERS, AND THEREFORE, NO DOLLAR DISCLOSURE IS INCLUDED IN SCHEDULE C. BASED ON PRIOR YEAR AMOUNTS, THE COLLEGE IS CONFIDENT THAT THE ALLOCABLE PORTION OF ITS DUES ALLOCATED TO LOBBYING ACTIVITIES IS BELOW $10,000. 13612517 2939550 562190 305867 16808390 12211043 135922 1893241 627689 13612517 11192837 197012 1072426 251232 12211043 12257718 742511 -1548431 125070 133891 11192837 0.04640 0.89434 0.05926 false false 767580 767580 17430887 10574259 6856628 11026017 5896841 5129176 6897568 6133924 763644 4659735 4094912 564823 14081851 0 POSTRETIREMENT HEALTH BENEFIT PLAN 7004562 CONDITIONAL ASSET RETIREMENT OBLIG 433784 REFUNDABLE GOVERNMENT LOAN PROGRAM 620338 8058684 61932432 60193731 1738701 -1040487 -681395 -1721882 16819 55837407 -1040487 -6213679 -7254166 63091573 221881 -1381022 -1159141 61932432 55820588 2062417 2062417 53758171 221881 6213679 6435560 60193731 ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT CONSISTS OF A PORTFOLIO OF ACTIVELY MANAGED FUNDS ESTABLISHED TO PROVIDE BOTH A SOURCE OF OPERATING FUNDS AS WELL AS LONG-TERM FINANCIAL STABILITY. THE ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS OR QUASI ENDOWMENTS. ENDOWMENT FUNDS MAY HAVE PURPOSE RESTRICTIONS ON USE OF THE INCOME. UNCERTAIN TAX POSITIONS FORM 990, SCHEDULE D, PART X, LINE 2 The College is an organization described under Section 501(c)(3) of the Internal Revenue Code (the Code) and therefore is exempt from federal income taxes under Section 501(a) of the Code and a similar provision of the State of New York income tax law. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities unrelated to its exempt purpose. The College recognizes the benefits of income tax positions only if those positions are more likely than not of being sustained. No provision for income taxes was required in 2012 or 2011. RECONCILIATION OF NET ASSETS FORM 990, SCHEDULE D, PART XI, LINE 8 $ (681,395) ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART XII LINE 2D $(6,213,679) TUITION DISCOUNTS & SCHOLARSHIPS LINE 4B $(1,200,764) COSTS OF GOOD SOLD REPORTED ON PART VIII (180,258) SPECIAL EVENT EXPENSE REPORTED ON PART VIII ============ $(1,381,022) RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XIII LINE 2D $1,200,764 COSTS OF GOOD SOLD REPORTED ON PART VIII 180,258 SPECIAL EVENT EXPENSES REPORTED ON PART VIII 681,395 ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN ============ $ 2,062,417 LINE 4B $ 6,213,679 TUITION DISCOUNTS & SCHOLARSHIPS true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY & GOVERNMENT ASSISTANCE SCHEDULE E, PART I THE COLLEGE PUBLICIZES ITS NON-DISCRIMINATION POLICY IN REGISTRATION MATERIALS, BROCHURES AND ON ITS WEBSITE. THE COLLEGE IS COMMITTED TO ENSURING THAT IT DOES NOT RACIALLY DISCRIMINATE AGAINST ANY INDIVIDUAL. THE COLLEGE RECEIVES FEDERAL AND STATE EDUCATIONAL ASSISTANCE GRANTS SUCH AS PELL, BUNDY AND SIMILAR SOURCES. DINNER 448505 63460 385045 16179 70338 4650 89091 0 448505 63460 385045 16179 70338 4650 89091 180258 204787 true SCHOLARSHIPS 604 6213679 GRANT ELIGIBILITY & MONITORING SCHEDULE I, PART I, LINE 1 THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE COLLEGE. ALL SCHOLARSHIPS ISSUED ARE APPLIED DIRECTLY AGAINST THE STUDENT'S TUITION BALANCE; THEREFORE, THE STUDENT CAN EXERCISE NO DISCRETION IN THE USE OF THE FUNDS. SINCE ALL SCHOLARSHIPS DEFRAY THE COST OF TUITION, NO FURTHER MONITORING OF THE SCHOLARSHIPS IS REQUIRED. X true true X X X false false false false false false false false false ELIZABETH DICKEY 287670 0 0 0 0 0 76625 0 12767 0 377062 0 0 0 ALEXIS WRIGHT 217556 0 0 0 21333 0 16275 0 27439 0 282603 0 0 0 JOHN SNYDER 274776 0 0 0 0 0 21394 0 25052 0 321222 0 0 0 FRANK NUARA 224617 0 0 0 0 0 17053 0 2760 0 244430 0 0 0 JOHN BORDEN 198915 0 0 0 0 0 16065 0 29749 0 244729 0 0 0 FERN KHAN 141512 0 0 0 0 0 8851 0 405 0 150768 0 0 0 VIRGINIA CASPER 157537 0 0 0 0 0 11916 0 9769 0 179222 0 0 0 BARBARA COLEMAN 202048 0 0 0 0 0 15492 0 11702 0 229242 0 0 0 ARLEN RAUSCHKOLB 156971 0 0 0 0 0 11931 0 22903 0 191805 0 0 0 LESLY PIERRE 116945 0 0 0 0 0 9269 0 25718 0 151932 0 0 0 HOUSING ALLOWANCE SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE - THE COLLEGE PROVIDES AN APARTMENT ALLOWANCE TO THE DEAN OF THE CHILDREN'S SCHOOL, ALEXIS WRIGHT. THE APARTMENT ALLOWANCE IS TREATED AS A TAXABLE FRINGE BENEFIT AND IS INCLUDED ON MR. WRIGHT'S FORM W-2. FOR THE YEAR ENDING DECEMBER 31, 2011, THE ALLOWANCE TOTALED $21,333. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 THE MISSION OF BANK STREET COLLEGE IS TO IMPROVE THE EDUCATION OF CHILDREN AND THEIR TEACHERS BY APPLYING TO THE EDUCATIONAL PROCESS ALL AVAILABLE KNOWLEDGE ABOUT LEARNING AND GROWTH, AND BY CONNECTING TEACHING AND LEARNING MEANINGFULLY TO THE OUTSIDE WORLD. IN SO DOING, WE SEEK TO STRENGTHEN NOT ONLY INDIVIDUALS, BUT THE COMMUNITY AS WELL, INCLUDING FAMILY, SCHOOL, AND THE LARGER SOCIETY IN WHICH ADULTS AND CHILDREN, IN ALL THEIR DIVERSITY, INTERACT AND LEARN. WE SEE IN EDUCATION THE OPPORTUNITY TO BUILD A BETTER SOCIETY. BANK STREET COLLEGE SUPPORTS THE ENTIRE SPECTRUM OF EDUCATION, SUPPORTING THE FOUNDER LUCY SPRAGUE MITCHELL'S MISSION TO "KEEP ONE EVER A LEARNER." FORM 990 REVIEW FORM 990, PART VI, LINE 11B THE FORM 990 WAS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH ORGANIZATION'S FINANCIAL DEPARTMENT. THE FORM 990 WAS PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND A COPY WAS PROVIDED TO THE FULL BOARD OF TRUSTEES PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE OF THE COLLEGE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE COLLEGE. THE COLLEGE MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. ANYONE REFERENCED ABOVE WHO DISCLOSES A CONFLICT OF INTEREST WILL BE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISION MAKING PROCESS. OFFICER COMPENSATION REVIEW FORM 990, PART VI, LINE 15 A/B THE COLLEGE UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND ALL OF THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS REASONABLE GIVEN THE MARKET IN WHICH THE COLLEGE OPERATES; THE MOST RECENT EVALUATION TOOK PLACE IN APRIL 2012. THE ORGANIZATION HAS ESTABLISHED A COMPENSATION COMMITTEE OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION AGREEMENT. THE COMPENSATION COMMITTEE UTILIZES COMPARABILITY AND BENCHMARKING SURVEYS TO ENSURE THAT THE COLLEGE COMPENSATES ITS EXECUTIVES COMMENSURATE WITH THE MARKET. THE COMPENSATION COMMITTEE WILL THEN SET THE COMPENSATION FOR THE RELEVANT EXECUTIVES AND DOCUMENT THE DECISION IN THE COMMITTEE MINUTES. DOCUMENT REVIEW POLICY FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GULDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WILL BE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. RECONCILIATION OF NET ASSETS FORM 990, PART XI $(1,040,487) UNREALIZED GAINS/(LOSSES) $ (681,395) ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN ============ $(1,721,882)