2013-04-02T15:34:38-05:00 2012-06-30 221478099 COHNREZNICK LLP 4 BECKER FARM ROAD ROSELAND NJ 070681739 990 2011-07-01 221494428 BLOOMFIELD COLLEGE BLOO 9737489000 467 FRANKLIN STREET BLOOMFIELD NJ 07003 HOWARD C BUXBAUM 9737489000 2013-04-01 1 THOMAS LANNING P00851654 9732283500 2011 2016-02-25 16:41:14Z HOWARD C BUXBAUM 497 FRANKLIN STREET BLOOMFIELD NJ 07003 58774078 0 X WWW.BLOOMFIELD.EDU X 1868 NJ TO PREPARE STUDENTS TO ATTAIN ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE IN A MULTICULTURAL AND GLOBAL SOCIETY. 30 30 1270 0 0 0 2825707 3231522 52646770 55136155 168231 106381 10040 52639 55650748 58526697 14495316 14557770 0 0 23564542 24794355 110738 83991 967681 14827844 15402628 52998440 54838744 2652308 3687953 58409947 60941349 15246867 14805057 43163080 46136292 TO PREPARE STUDENTS TO ATTAIN ACADEMIC, PERSONAL AND PROFESSIONAL EXCELLENCE IN A MULTICULTURAL AND GLOBAL SOCIETY. 0 0 48715427 55307612 TO PROVIDE EDUCATIONAL OPPORTUNITIES THAT WILL PREPARE THE STUDENTS FOR CAREERS. 48715427 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 58 0 1 1270 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CINDY MCDANIEL 9737489000 467 FRANKLIN STREET BLOOMFIELD NJ 07003 X DR ADRIAN A SHELBY 0.50 X X 0 0 0 ANNE MOREAU THOMAS 0.50 X 0 0 0 CAROLYN GLYNN 0.50 X 0 0 0 DIANA DRYSDALE 0.50 X 0 0 0 DR ERNESTO BUTCHER 0.50 X 0 0 0 DR MAUREEN GRANT 0.50 X 0 0 0 DR RICHARD A POLLACK 0.50 X 0 0 0 DR STEVEN M ROSE 0.50 X 0 0 0 DR NICHOLAS CARLOZZI 0.50 X 0 0 0 EMER FEATHERSTONE 0.50 X 0 0 0 GLENN M REITER 0.50 X 0 0 0 HANK UBEROI 0.50 X 0 0 0 HANNAH RICHMAN 0.50 X 0 0 0 JAMES R GILLEN 0.50 X 0 0 0 JOEL M WEINER 0.50 X 0 0 0 JOHN D CAMPBELL 0.50 X 0 0 0 JOHN DELUCCA 0.50 X X 0 0 0 MARTIN MCKERROW 0.50 X X 0 0 0 NANCY LANE 0.50 X 0 0 0 NANCY VAN DUYNE 0.50 X 0 0 0 PATRICIA ETZOLD 0.50 X 0 0 0 RENEE BALDAN-SELITTO 0.50 X 0 0 0 RICHARD LARSEN 0.50 X 0 0 0 ROSEMARY IVERSEN 0.50 X 0 0 0 SANFORD B PRATER 0.50 X 0 0 0 STEPHEN GLASSER 0.50 X X 0 0 0 VERNON ENDO 0.50 X 0 0 0 HECTOR O BANEGAS 0.50 X 0 0 0 DOROTHEA BENTON FRANK 0.50 X 0 0 0 WILLIAM H TURNER III 0.50 X 0 0 0 JOHN G CROSS 37.50 X 177427 0 41480 KRISTEN COHEN 37.50 X 41697 0 6495 KWI BRENNAN 37.50 X 165336 0 27333 MARION TERENZIO 37.50 X 148559 0 27254 PATRICK LAMY 37.50 X 137729 0 16575 PETER JEONG 37.50 X 324990 0 64683 RICHARD LEVAO 37.50 X 330862 0 62872 WILLIAM MCDONALD 37.50 X 142488 0 64828 ADAM CASTRO 37.50 X 99446 0 16872 HOWARD C BUXBAUM 37.50 X 0 0 0 CAROLYN SPIES 37.50 X 104291 0 20898 MARIA VOGT 37.50 X 105287 0 25660 NEDDIE SERRA 37.50 X 116189 0 21431 MICHAEL SCHIRO 37.50 X 100931 0 27315 JULIA MORRISON CHAMBERS 37.50 X 100422 0 24394 2095654 0 448090 14 0 1 0 JH COHN LLP 4 BECKER FARM ROAD ROSELAND NJ 07078 ACCOUNTING 156750 1 31900 1585488 1614134 3231522 TUITION AND FEES 611710 48807609 48807609 AUXILIARY SALES AND SE 611710 6328546 6328546 55136155 106381 106381 116633 212061 -95428 -95428 -95428 11930 31900 35320 -23390 -23390 MISCELLANEOUS 611710 97110 97110 PARKING 611710 55425 55425 VENDING 611710 18922 18922 171457 58526697 55307612 0 -12437 14557770 14557770 1918353 1074820 843533 17588203 15892473 1265526 430204 1207905 1097366 79498 31041 4079894 3659545 323790 96559 71564 71564 129550 129550 83991 83991 1853752 1049481 776359 27912 204591 202141 1945 505 3625611 3304813 243995 76803 1169805 1027427 109576 32802 1172407 1019994 117241 35172 857383 818697 29338 9348 1779424 1657836 65503 56085 598154 598154 2364721 2057307 236472 70942 360024 222014 138010 PROGRAMS OTHER COSTS 1073743 1073743 MEMBERSHIP AND DUES 98160 92700 5460 OTHER EXPENSES 43739 32882 10857 54838744 48715427 5155636 967681 397751 161073 5510642 9105138 859117 177630 859799 889333 569560 335048 64626772 24218968 39283122 40407804 10290759 9865323 639197 0 58409947 60941349 804238 1475902 874733 731369 13384550 11799268 183346 798518 15246867 14805057 X 33093256 35871975 2982946 3057604 7086878 7206713 43163080 46136292 58409947 60941349 X 3687953 -714741 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10146915 112835 85126 349028 491481 9504367 8498914 270680 1667559 290238 10146915 6626188 1704293 485049 316616 8498914 8613756 249885 106031 2056079 287405 6626188 0.75800 0.24200 0 0 2958062 2958062 50924283 15190726 35733557 10744427 9028242 1716185 40407804 CAPITAL LEASE OBLIGATION 389789 CONDITIONAL ASSET RETIREMENT 191678 ACCRUED RETIREMENT BENEFIT OBLIGATION 217051 798518 58526697 54838744 3687953 -349028 -365713 -714741 2973212 44611141 -349028 -13813909 -14162937 58774078 -247381 -247381 58526697 41272216 247381 247381 41024835 13813909 13813909 54838744 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE NEW JERSEY STATE INCOME TAX LAWS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE COLLEGE HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2012 AND 2011. THE COLLEGE'S U.S. FEDERAL AND STATE FILINGS PRIOR TO FISCAL YEAR 2009 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. THE COLLEGE RECOGNIZES INTEREST AND PENALTIES ASSOCIATED WITH TAX MATTERS AS OPERATING EXPENSES AND INCLUDES ACCRUED INTEREST AND PENALTIES WITH ACCRUED EXPENSES IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. THERE WERE NO INTEREST OR PENALTIES PAID FOR THE YEARS ENDED JUNE 30, 2012 AND 2011. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED IN STUDENT TUITION ON F/S -13,813,909. PART XII, LINE 4B - OTHER ADJUSTMENTS: NETTED RENTAL EXPENSE -212,061. NETTED EVENT EXPENSES -35,320. PART XIII, LINE 2D - OTHER ADJUSTMENTS: NETTED RENTAL EXPENSES 212,061. NETTED EVENT EXPENSES 35,320. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED IN STUDENT TUITION ON F/S 13,813,909. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 DURING THE REGISTRATION PERIOD, THE NONDISCRIMINATORY POLICY IS PUBLISHED THROUGH THE COURSE OFFERING CATALOG (PAGE 2) WHICH IS GIVEN TO EVERY STUDENT. WHEN RECRUITING STUDENTS THROUGH THE MAIL, ALL SOLICITATION MATERIALS ALWAYS CONTAIN THE NONDISCRIMINATORY POLICY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 SEE SCHEDULE B FOR DETAIL OF GOVERNMENT AGENCY ASSISTANCE. X X X X X X 1 ADVANCE FUNDRAISING PROFESSIONALS 467 FRANKLIN STREET BLOOMFIELD NJ 07003 TELEPHONE FUNDRAISING 0 73782 65567 8215 73782 65567 8215 GALA 43830 31900 11930 35320 43830 31900 11930 35320 35320 -23390 1 TUITION ASSISTANCE 1874 13282165 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION ISSUES GRANTS TO QUALIFIED INDIVIDUALS. THE GRANT FUNDS ARE THEN USED DIRECTLY AGAINST THE STUDENTS ACCOUNT AS PAYMENT TOWARDS THEIR COLLEGE EDUCATION. X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 JOHN G CROSS 177427 0 0 0 0 0 18488 0 22992 0 218907 0 91140 0 KWI BRENNAN 165336 0 0 0 0 0 16740 0 10593 0 192669 0 82524 0 MARION TERENZIO 148559 0 0 0 0 0 15154 0 12100 0 175813 0 74700 0 PATRICK LAMY 137729 0 0 0 0 0 13788 0 2787 0 154304 0 0 0 PETER JEONG 324990 0 0 0 0 0 33228 0 31455 0 389673 0 162276 0 RICHARD LEVAO 255862 0 75000 0 0 0 25772 0 37100 0 393734 0 127500 0 WILLIAM MCDONALD 142488 0 0 0 0 0 14884 0 49944 0 207316 0 73368 0 PART I, LINE 1A THE ORGANIZATION PROVIDES HOUSING AND HEALTH/SOCIAL CLUB DUES FOR THE PRESIDENT PART I, LINE 7 FOR THE CALENDAR YEAR 2011, PRESIDENT RICHARD LEVAO RECEIVED A BONUS. INCLUDED ON SCHEDULE J, PART II LINE 6 COLUMN B (II) IS THE $75,000 BONUS. THIS AMOUNT WAS APPROVED BY THE BOARD AND IS INCLUDED IN HIS 2011 FORM W-2. SUPPLEMENTAL INFORMATION PART III PATRICK LAMY WAS NOT INCLUDED ON PRIOR YEARS SCHEUDLE J, THEREFORE PER IRS INSTRUCTIONS, NO AMOUNT IS LISTED IN COLUMN F RECLASSIFICATION FORM 990, PART I DURING THE 2012 AUDIT, CERTAIN AMOUNTS IN THE 2011 FINANCIAL STATEMENTS HAVE BEEN RECLASSIFIED TO CONFORM TO THE 2012 PRESENTATION. THE NET EFFECT OF THESE CHANGES WAS -365,713, WHICH IS INCLUDED ON PART XI OF FORM 990 AS A PRIOR PERIOD ADJUSTMENT. PLEASE BE ADVISED THAT FOR COMAPRABILITY, THE PRIOR YEAR AMOUNTS SHOWN ON FORM 990, PART I HAVE NOT BEEN CHANGED. FORM 990, PART VI, SECTION B, LINE 11 THE VICE PRESIDENT OF FINANCE WILL REVIEW FORM 990 WITH THE BOARD OF TRUSTEES BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES MEETS ANNUALLY TO DISCUSS COMPENSATION AND COMPARABLE DATA. THE PRESIDENT AND VICE PRESIDENT OF FINANCE ARE RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE ORGANIZATION'S OFFICERS AND KEY EMPLOYEES. THOSE COMPENSATION AMOUNTS ARE THEN REVIEWED WITH THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART VII IN LAST WEEK OF JUNE, 2012, JOHN CROSS LEFT HIS POSITION AS VP OF FINANCE, AND WAS REPLACED BY HOWARD C. BUXBAUM. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -349,028. PRIOR PERIOD ADJUSTMENTS: -365,713. TOTAL TO FORM 990, PART XI, LINE 5: -714,741. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.