2012-03-30T15:13:26-04:00 2011-05-31 KPMG LLP 345 PARK AVENUE NEW YORK NY 10154 990 2010-06-01 237223216 SARAH LAWRENCE COLLEGE SARA 9143952556 1 MEAD WAY BRONXVILLE NY 10708 Joseph Giovannelli 2012-03-27 true 2127589700 2010 2016-02-24 21:20:13Z KAREN LAWRENCE PRESIDENT 1 MEAD WAY BRONXVILLE NY 107085999 90038111 false X www.sarahlawrence.edu X 1926 NY SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE AND SELECT GRADUATE PROGRAMS ON ITS MAIN CAMPUS IN BRONXVILLE, NY AND FIVE UNDERGRADUATE OVERSEAS PROGRAMS. SEE SCH. O. 30 28 1720 28 -4354 -29985 8214707 12823677 76565857 77132848 2967 2183 39624 79403 84823155 90038111 20957067 22337568 0 0 41506961 41881581 0 0 3945032 27152255 28303195 89616283 92522344 -4793128 -2484233 174273099 185813182 70077690 70490160 104195409 115323022 X SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE AND SELECT GRADUATE PROGRAMS. SEE SCHEDULE O FOR MORE INFORMATION. false false 63136106 21154941 54257537 Undergraduate Program: Educational costs including instruction, academic support, financial aid, library and allocated administrative and occupancy costs for a head count enrollment of 1152 students in Bronxville, New York and 139 students in five overseas programs in London, Oxford, Paris, Florence and Havana. 4661596 1148832 6555697 Graduate Programs: Educational costs and financial aid leading to masters degrees in selected graduate programs including Writing Theatre, Women's History, Dance, Child Development, Art of Teaching, Human Genetics, and Health Advocacy; for total headcount of 342 students. 9882592 13632348 Auxiliary Enterprises: Operational costs consisting of student housing (housing 970 in Bronxville and 120 in overseas programs), food service and occupancy costs of College bookstore. 1512277 33795 2687266 79192571 true true false false false false false false true true true false false true true true false true true true false false false false false false false true true true false false false false false false false false false false true false false false false true false false false false true 344 0 true 1720 true false true FR IT UK false false false false false false false false X 30 28 false false false false false false false true true false false false true true true true true true true false NY X DAVID C KLEIN CONTROLLER 9143952556 1 MEAD WAY BRONXVILLE NY 107085999 FRANCOIS HENRI BRIARD 1.0 X 0 0 0 CAROL CHRIST 1.0 X 0 0 0 STEPHANIE COOPER 1.0 X 0 0 0 JOAN CANNADY COUNTRYMAN 1.0 X 0 0 0 DAVID DULL 1.0 X 0 0 0 ELLEN SCHLOSS FLAMM 1.0 X 0 0 0 VICKI FORD 1.0 X 0 0 0 BETH ANN GENTILE 1.0 X 0 0 0 MARK GOODMAN 1.0 X X 0 0 0 YVONNE ISAAC 1.0 X 0 0 0 CLARION JOHNSON 1.0 X 0 0 0 LAWRENCE LEE 1.0 X 0 0 0 WENDY LIPP 1.0 X 0 0 0 ERIN STONE-MCKINNON 1.0 X 0 0 0 NANCY MILLER MONTGOMERY 1.0 X 0 0 0 JAY PACK 1.0 X 0 0 0 RONA CARR 1.0 X 0 0 0 SONIA KELLY REESE 1.0 X 0 0 0 ZOE PECHTER 1.0 X 0 0 0 PAULA RUDNICK 1.0 X 0 0 0 SARAH GUND 1.0 X 0 0 0 ROSE ANNE THOM 1.0 X 106622 0 20251 ROBERT UNDERHILL 1.0 X 0 0 0 JOHN HILL 1.0 X X 0 0 0 Nancie Cooper 1.0 X X 0 0 0 Myra Drucker 1.0 X X 0 0 0 Karen Lawrence 40.0 X X 329933 0 147587 Laura Donnelley 1.0 X 0 0 0 Tracey Riese 1.0 X 0 0 0 Linda Supino 1.0 X 0 0 0 Thomas Blum 40.0 X 135059 0 45223 Julie Auster 40.0 X 127569 0 47963 Allen Green 40.0 X 137295 0 101886 Amy Abrams 40.0 X 133610 0 22059 Jerrilyn Dodds 40.0 X 203555 0 82360 Charles Rasberry 29.54 X 178049 0 30155 Joseph Giovannelli 26.67 X 157259 0 29586 Gerald Schorin 36.67 X 138537 0 35720 Shirley Kaplan 40.0 X 133326 0 20869 Daniel Kaiser 40.0 X 127319 0 20106 Sean Jameson 40.0 X 126506 0 40012 Ellen Reynolds 40.0 X 146401 0 15835 Jan Drucker 40.0 X 127966 0 16545 Micheal Rengers 23.33 X X 119798 0 20344 2428804 0 696501 55 true true false Flora Horticultural PO box 654 BRONXVILLE NY 10708 Landscaping 585850 ABM Janitorial Services 551 Fifth Ave Suite 300 NEW YORK NY 10176 janitorial service 1089209 BMS Construction Corp 58A New Hempstead Rd NEW CITY NY 10956 construction 467870 AVI Fresh 2950 Elm Road NE WARREN OH 44483 Food service 5218139 Castle Oil Corporation PO Box 329 HARRISON NY 10528 Fuel Oil 490261 27 645283 12178394 254307 12823677 UNDERGRADUATE TUITION AND FEES 611600 54257537 54257537 GRADUATE TUITION AND FEES 611600 6555697 6555697 AUXILLIARY ENTERPRISES 611710 13632348 13632348 OTHER EDUCATION PROGRAMS 611600 2687266 2687266 77132848 2183 -4354 6537 0 0 69000 69000 69000 69000 0 0 0 0 STUDENT LOAN INTEREST 900099 10403 10403 10403 90038111 77132848 -4354 85940 0 22337568 22337568 0 0 2239121 667703 1270137 301281 0 29303974 24677083 2675194 1951697 2260202 1866565 241520 152117 6021042 4752398 875102 393542 2057242 1650669 265905 140668 0 66296 66296 170500 170500 0 0 101526 101526 958744 393496 451812 113436 248081 248081 1491543 917011 412002 162530 608363 608363 0 4693609 4338773 308370 46466 496007 360153 33581 102273 0 124232 95531 25124 3577 3866522 3667052 174006 25464 0 3654881 2934895 713641 6345 511376 472716 33597 5063 FOREIGN PROGRAM COSTS 4584722 4584722 CONTRACTED FOOD SERVICE COSTS 3016557 3016557 RESTRICTED FUNDS EXPENSES 836044 639076 196968 BUILDING REPAIR & RENOVATION 897713 829846 58980 8887 PRINTING AND PUBLICATIONS 888532 433820 58393 396319 1087947 556937 395643 135367 92522344 79192571 9384741 3945032 5233444 2269567 4610102 8946337 142684 174612 1064543 963584 1074231 1193906 121479630 33641590 89059202 87838040 73088893 84427136 174273099 185813182 6352474 6511062 3938702 3514299 43500000 43500000 3313381 3240072 1000000 12973133 12724727 70077690 70490160 X 60942778 58983820 5893780 14180911 37358851 42158291 104195409 115323022 174273099 185813182 X -2484233 13611846 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 66803789 1810714 12483613 1208248 5196378 101526 74591964 58990582 2228330 9256316 1324769 2238290 108380 66803789 77938513 5956329 -20560959 1291832 2945936 105533 58990582 0.49300 0.50700 false false 5830155 5830155 105198838 28720496 76478342 10450637 4921094 5529543 87838040 DOMESTIC EQUITY FUNDS 908201 F INTERNATIONAL EQUITY FUNDS 7254412 F FIXED INCOME FUNDS 527926 F MULTI-STRATEGY COMMOD FUNDS 2182887 F CORPORATE BONDS 196565 F OTHER BONDS 10409557 F REAL ESTATE SECURITIES FUND 1996009 F INSTITUTIONAL ALL CAP FUND 10010963 F HEDGED & EMERGING MARKET FUNDS 7535580 F REAL ESTATE INVESTMENT TRUSTS 92495 F DOMESTIC&INTERNTNL INDEX FUNDS 410574 F LIMITED PARTNERSHIPS 12545106 F SHORT TERM FUNDS 892607 F CORE EQUITY FUND 10396856 F CSV OF LIFE INSURANCE 89130 F GLBL NAT RESOURC STCK INDX FD 1481310 F SSG GLOBAL HEDGED EQUITY FUND 5063760 F SSG DIVERSIFYING COMPANY FUND 2807586 F SSG RELATVE VAL&EVNT DRIVN FND 7869032 F LONG U.S. TREASURY INDEX FUND 1756580 F 84427136 0 INTEREST RATE SWAP LIABILITY 4294343 ANNUITIES PAYABLE 2036367 US GOVERNMENT GRANTS REFUNDABL 1034946 POSTRETIREMENT HEALTH&LIFE INS 5023977 CONDITIONAL ASSET RETIRMENT OB 335094 12724727 90038111 92522344 -2484233 12486140 1125706 13611846 11127613 80801134 12486140 715977 13202117 67599017 101526 22337568 22439094 90038111 69673521 -409729 -409729 70083250 101526 22337568 22439094 92522344 SUPPLEMENTAL INFORMATION PART V LINE 4 THE COLLEGE'S INTENDED USE OF THE ENDOWMENT FUNDS IS FOR ACADEMIC PROGRAMS, LIBRARY ACQUISITIONS, SCHOLARSHIPS AND FELLOWSHIPS, AND FACULTY SALARIES. PART XI LINE 8 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $597,729, CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $409,729, GAIN NOT RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST $118,248. PART XII LINE 2D CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $597,729, GAIN NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST $118,248 PART XII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $22,337,568 PART XIII LINE 2D CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $409,729 PART XIII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $22,337,568 SCHEDULE D, PART X, FIN 48 The College is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. The College recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the College's exempt purpose is subject to tax under Internal Revenue Code Section 511. The College did not have any material unrelated business income tax liability for the year. true true true true true true true false false false false false false false false true false true Schedule E Part I Line 3 NON-DISCRIMINATORY POLICY NON-DISCRIMINATORY POLICY REGARDING STUDENT ADMISSIONS AND EMPLOYMENT POLICIES ARE ON THE COLLEGE'S PUBLIC WEBSITE AT WWW.SLC.EDU. NON-DISCRIMINATORY POLICIES ARE ALSO PRINTED IN STUDENTS ADMISSIONS APPLICATION, STUDENTS HANDBOOK, COLLEGE CATALOGUE, ETC. Schedule E Explanation for Line 6A FEDERAL CAMPUS-BASED STUDENT AID FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION. THE COLLEGE ALSO RECEIVES FUNDS FROM VARIOUS AGENCIES AS RESEARCH AND TRAINING GRANTS. true Europe (Including Iceland and Greenland) 3 4 Program Services UNDERGRAD EDUCATION 4494770 Central America and the Caribbean 1 Program Services UNDERGRAD EDUCATION 241148 3 5 3 5 4735918 4735918 true false false false false false Part I Line 3 Column F Amounts represent direct expenditures incurred on the accrual basis associated with the College's Study Abroad programs in England, France, Italy, and Cuba. true Scholarships & Fellowships to eligible students 1142 22337568 FMV cr. against tuition SUPPLEMENTAL INFORMATION PART I, LINE 2 A LIST OF RECIPIENTS OF SCHOLARSHIPS IS ON FILE AT THE COLLEGE. THE RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS ESTABLISHED BY THE COLLEGE COMMITTEES THAT JUDGE THE APPLICANTS. THE COLLEGE HAS PROCEDURES THAT ARE DESIGNED TO ENSURE THAT INDIVIDUALS FROM THE COLLEGE QUALIFY TO RECEIVE PAYMENTS. THE COLLEGE'S FINANCIAL AID OFFICE ENSURES THAT GRANTS AND AWARDS ARE IN COMPLIANCE WITH PROCEDURES ESTABLISHED BY THE COLLEGE. X X X true true X X X false false false false false false false false false Karen Lawrence 329158 0 0 0 775 0 61250 0 84465 0 475648 0 0 0 Thomas Blum 135059 0 0 0 0 0 15000 0 30223 0 180282 0 0 0 Julie Auster 127569 0 0 0 0 0 13250 0 34713 0 175532 0 0 0 Allen Green 137295 0 0 0 0 0 14600 0 87286 0 239181 0 0 0 Amy Abrams 133610 0 0 0 0 0 13500 0 8559 0 155669 0 0 0 Shirley Kaplan 133326 0 0 0 0 0 13310 0 7559 0 154195 0 0 0 Jerrilyn Dodds 203555 0 0 0 0 0 20000 0 62360 0 285915 0 0 0 Sean Jameson 126506 0 0 0 0 0 13600 0 26412 0 166518 0 0 0 Ellen Reynolds 146401 0 0 0 0 0 14600 0 1235 0 162236 0 0 0 Charles Rasberry 178049 0 0 0 0 0 16333 0 13822 0 208204 0 0 0 Joseph Giovannelli 157259 0 0 0 0 0 16000 0 13586 0 186845 0 0 0 Gerald Schorin 138537 0 0 0 0 0 13292 0 22428 0 174257 0 0 0 Micheal Rengers 119318 0 0 0 480 0 10500 0 9844 0 140142 0 0 0 Part I Line 1a -----TRAVEL FOR COMPANIONS - THE COLLEGE PROVIDES, AS CONDITION OF EMPLOYMENT, EXPENDITURE FOR TRAVEL FOR THE PRESIDENT'S SPOUSE WHEN EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS, WHILE ACCOMPANYING THE PRESIDENT IN PERFORMING HER OFFICIAL DUTIES IN THE AREAS OF DEVELOPMENT, TRUSTEE AND ALUMNI RELATIONS, AND OTHER BUSINESS OF THE COLLEGE. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE, AND THE PAYMENT TOTALS ARE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD. -----HOUSING ALLOWANCE FOR RESIDENCE OR PERSONAL USE - THE COLLEGE HOUSES THE PRESIDENT, (KAREN LAWRENCE), THE DEAN OF STUDIES AND CHIEF DIVERSITY OFFICER, (ALLEN GREEN), THE DIRECTOR OF PUBLIC SAFETY, AND 6 STAFF FROM STUDENT AFFAIRS, AS REQUIRED BY THE NATURE OF THEIR POSITIONS AND AS A CONDITION OF THEIR EMPLOYMENT. -----PERSONAL SERVICES - THE COLLEGE PROVIDES LIMITED PERSONAL SERVICE CONSISTING OF RESIDENCE HOUSEKEEPING FOR THE PRESIDENT. City of Yonkers Industrial Development Agency 521294255 986083CA9 2009-12-01 44217481 CITY OF YONKERS IND. DEV AGENC false false false 0 0 44217481 0 0 0 569901 0 0 5670179 37977401 0 2009 true false true true false false false false false 0.00000 0.00000 0.00000 true false false false false false false Description of Purpose Bond Issue Schedule K Part I(F) THE CITY OF YONKERS INDUSTRIAL DEVLOPMENT BONDS WERE ISSUED TO CONVERT FROM VARIABLE TO FIXED RATE FOR BONDS ISSUES 5/27/04, 10/16/03, AND 6/5/01. X 42 254307 FAIR MARKET VALUE 0 false true true PART I, LINE 32A THE COLLEGE SELLS DONATED SECURITIES THROUGH A THIRD PARTY BROKER. THE MISSION AND METHOD OF SARAH LAWRENCE EDUCATION FORM 990, PART III, LINE 1 At Sarah Lawrence College, our mission is to graduate citizens of the world who are diverse in every definition of the word, who take intellectual and creative risks, and who are able to focus exceptional intellectual discipline within a framework of humanistic values and concern for community. Our unique educational practices, including unparalleled time with faculty, aim at preparing the whole student to solve problems in new ways, to cross disciplinary boundaries, and to think and act independently as they become protagonists on the world stage. OTHER PROGRAMS FORM 990, PART III, LINE 4D Other educational programs consisting of non-credit continuing education programs (with a headcount of 19 students), special non-credit courses for adults, (health and wellness classes, culinary arts, etc.), writing institute classes, certificate courses, and early childhood programs. 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 The College's Controller's Office compiled financial information and prepared the 990. A draft was reviewed by KPMG, an independent tax preparer. Acting for the full Board, a draft of the 990 (exclusive of Schedule B) was sent to each member of the Audit Committee and the Executive Committee of the Board to review. A meeting was held on December 16, 2011 to discuss/review. Minutes were taken at the meeting. A draft of Schedule B was reviewed by Audit Committee members only. A final public inspection copy of the 990 was placed on the College's password-protected trustee page for access by each Board member, with e-mail notification thereto, prior to filing. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Secretary of the College regularly and consistently monitors and enforces the conflict of interest policy. Annually, the Trustees are sent the Colleges conflict of interest policy by the Secretary of the College. Compliance is acknowledged by signature and return of the signed statement. At the same time, a disclosure statement is completed in order to disclose any potential conflict of interest with the College. The policy requires disclosure of all potential conflicts of interest to the Secretary, the Dean, or the CFO, as soon as possible after the Trustee learns of the conflict. All disclosed potential conflicts of interest are presented to the Board with the material facts for discussion and decision for approval. The Board sets forth its basis in the minutes of the meeting in which the decision was made. DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES FORM 990, PART VI, SECTION B, LINE 15a and 15b The Executive Commitee, comprised of independent Trustees, meets annually to fix the compensation of the President, the faculty Trustee, and other officers who are not Trustees. The Vice President of Human Resources meets with the Executive Committee at the end of each academic year to present objective comparative information on all officers of the College. Data is collected from 2 sets of objective comparative peer groups. The President presents to the Committee the annual evaluation and salary recommendation for each officer for the following academic year. The Committee approves the new salaries. The Commitee determines and approves the President's salary. The determination is documented in the contemporaneous meeting minutes. This process was last undertaken in June 9, 2011. AVAILABILITY OF DOCUMENTS, POLICY, AND FINANCIALS FORM 990, PART VI, SECTION C, LINE 19 The College's governing documents are available by request, the conflict of interest policy is on the College's public website, and the College's Financial Statements are made available by request. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES: NET APPRECIATION IN FAIR VALUE INTEREST & DIVIDEND INCOME, NET OF INVESTMENT EXPENSES $12,486,140 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $409,729 CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS $597,729 GAIN NOT RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST $118,248. Various Charitable Remainder Trusts N/A NA T 354518 2815092 1.00000 false false false false false false false false false false false false false false false false false false