2012-07-13T09:54:23-05:00 2011-08-31 D'ARCANGELO & CO LLP 800 WESTCHESTER AVE SUITE N-400 RYE BROOK NY 105731301 990 2010-09-01 237050397 WESTCHESTER COMMUNITY COLLEGE FOUNDATION WEST 9146066670 75 GRASSLANDS ROAD VALHALLA NY 10595 EVE LARNER 9146066670 2012-07-12 1 ALFRED F THOBEN 9146944600 2010 2016-02-24 21:20:13Z EVE LARNER 75 GRASSLANDS ROAD VALHALLA NY 10595 17779032 0 X N/A X 1969 NY THE PURPOSES OF THE FOUNDATION SHALL BE, AMONG OTHER THINGS, TO AID AND ADVANCE THE MISSION OF WESTCHESTER COMMUNITY COLLEGE, A PUBLIC EDUCATIONAL INSTITUTION RECOGNIZING THAT PUBLIC EDUCATION IS A PUBLIC RESPONSIBILITY. THE FOUNDATION SHALL HAVE AS ITS GOAL THE DEVELOPMENT OF VOLUNTARY AND SUPPLEMENTAL SUPPORT RESULTING FROM GIFTS, BEQUESTS, AND FUNDRAISING ACTIVITIES. THE FOUNDATION DISBURSES INCOME OR PRINCIPAL THEREOF, FOR THE BENEFIT OF WESTCHESTER COMMUNITY COLLEGE FOR, BUT NOT LIMITED TO, STUDENT SCHOLARSHIPS AND EMERGENCY AID, FACULTY DEVELOPMENT, EDUCATIONAL PROGRAMMING AND COLLEGE OPERATING AND CAPITAL EXPENDITURES. THE FOUNDATION'S SUPPORT SHALL STRENGTHEN AND ENRICH THE EDUCATIONAL LIFE AND ENVIRONMENT OF WESTCHESTER COMMUNITY COLLEGE AND ENABLE THE COLLEGE TO CONTINUE TO OFFER ACCESS TO QUALITY EDUCATION AND THE SKILLS FOR SUCCESS THROUGH ITS FUNDRAISING AND PROGRAMMATIC ACTIVITIES. 56 53 16 521 0 0 3665071 3948309 0 0 647403 492050 51243 45428 4363717 4485787 4628052 2892339 0 0 768193 767717 0 0 392763 265167 312611 5661412 3972667 -1297695 513120 29931985 31102302 345968 317851 29586017 30784451 X THE WESTCHESTER COMMUNITY COLLEGE FOUNDATION WAS ESTABLISHED IN 1969 TO MEET COLLEGE AND STUDENT NEEDS NOT MET BY PUBLIC FUNDS. AS PART OF ITS MISSION, THE FOUNDATION'S PRIMARY OBJECTIVE IS TO PROVIDE SCHOLARSHIPS FOR INCOMING, CONTINUING, AND GRADUATING STUDENTS. ADDITIONAL OBJECTIVES INCLUDE FUNDING NEW INITIATIVES AND PROJECTS, FACULTY DEVELOPMENT, AND OTHER PROGRAMS THAT ENRICH CAMPUS LIFE AND ASSIST THE COLLEGE TO FULFILL ITS MANDATE TO PROVIDE ATTAINABLE, AFFORDABLE, AND QUALITY EDUCATION. 0 0 1083836 1083836 SCHOLARSHIPS AND AWARDS: PROVIDING SCHOLARSHIPS IS A PRIMARY OBJECTIVE OF THE FOUNDATION. APPROXIMATELY, 160 TYPES OF AWARDS AND GRANTS WERE MADE TO OVER 950 STUDENTS WHO QUALIFY FOR SCHOLARSHIP ASSISTANCE. SCHOLARSHIPS BESTOW ON STUDENTS A VALUABLE SENSE OF RECOGNITION AND ACCOMPLISHMENT, AS WELL AS IMPORTANT FINANCIAL BENEFITS. OUR SCHOLARSHIP DONORS INCLUDE PRIVATE INDIVIDUALS, LOCAL BUSINESSES, CORPORATIONS AND FOUNDATIONS--ALL OF WHOM ARE COMMITTED TO MAKING AN EDUCATION AFFORDABLE FOR WCC STUDENTS. THE FOUNDATION'S SCHOLARSHIP APPLICATION PROCESS IS HIGLY COMPETITIVE, WITH ACADEMIC ACHIEVEMENT OFTEN BEING THE PRIMARY CONSIDERATION. HOWEVER, FINANCIAL NEED, SERVICE TO THE COLLEGE OR COMMUNITY, SPECIAL CIRCUMSTANCES, AND PERSONAL QUALITIES ARE ALSO CONSIDERED. ADDITIONALLY, SCHOLARSHIP APPLICATIONS ARE REVIEWED BY A CROSS-SECTION OF PEOPLE ON CAMPUS--FACULTY, ADMINISTRATORS AND MEMBERS OF THE FOUNDATION BOARD OF DIRECTORS. 849138 341005 COLLEGE INSTITUTIONAL DEVELOPMENT AND ENHANCEMENT FUNDING FOR NEW EDUCATIONAL INITIATIVES AND PROJECTS, FACULTY ENRICHMENT AND DEVELOPMENT, CAPITAL PROJECTS, NATIVE PLANT CENTER, ALUMNI PROGRAM, VIRGINIA MARX CHILDREN'S CENTER STUDENT TUITION AND PROGRAM ASSISTANCE, VOLUNTEER PROGRAMS INCLUDING CONVERSATION PARTNERS, TUTORS, AND WORKPLACE MENTORS. THE FOUNDATION CONTINUALLY SUPPORTS THE COLLEGE BY SPONSORING PROGRAMS THAT WILL ENHANCE THE CULTURAL LIFE OF THE COLLEGE COMMUNITY AND CO-DEVELOP WITH THE COLLEGE NEW COLLEGE FACILITIES FOR UNMET STUDENT NEEDS. 1467498 1467498 GATEWAY CENTER: THE FOUNDATION HAD PARTNERED WITH WESTCHESTER COMMUNITY COLLEGE AND THE STATE OF NY TO PROVIDE FUNDS FOR THE CONSTRUCTION OF THE GATEWAY CENTER AS WELL AS THE FUNDING OF THE GATEWAY PROGRAMS. SINCE ITS OPENIING IN SEPTEMBER 2010, THE GATEWAY CENTER HAS BEEN AN EXCITING AND ENERGIZED FACILITY OFFERING PROGRAMS AND SERVICES TO THE ENTIRE COLLEGE COMMUNITY AND THE PUBLIC. AS SUCH THE COLLEGE CONTINUES TO EXPAND ITS REACH WITHIN THE COMMUNITY AND MEET THE NEEDS OF OUR STUDENTS AND THE DIVERSE POPULATIONS THAT WE SERVE. CENTERS WITHIN GATEWAY INCLUDE THE WELCOME CENTER AND THE GATEWAY TO ENTREPRENEURSHIP (FORMERLY THE INSTITTUE FOR ENTREPRENEURIAL STUDIES). THESE CENTERS, EACH OVERSEEN BY A DIRECTOR, HAVE DEVELOPED AND OFFERED A VARIETY OF PROGRAMS AND SERVICES INCLUDING THE CALL CENTER, CITIZENSHIP AND CIVICS PREPARATION, COLLEGE INFORMATION SESSIONS AND ENTREPRENEURSHIP ACTIVITIES. IN SEPTEMBER 2011, THE CENTER FOR FINANCIAL AND ECONOMIC EDUCATION OPENED, FORAGED PARTNERHSIPS WITH OTHER FINANCIAL PLANNING AGENCIES AND OFFERED FINANCIAL LITERACY PROGRAMS TO OUR STUDENTS AND THE COMMUNITY AT LARGE. FINALLY, THE GATEWAY CENTER HAS SPONSORED EDUCATIONAL AND CULTURAL FORUMS CELEBRATING THE IMMIGRANT EXPERIENCE AND OUR COUNTY'S DIVERSITY. THESE PROGRAMS INCLUDE ETHNIC HERITAGE CELEBRATIONS, A FILM SERIES, AND PANEL PRESENTATIONS TOUCHING ON SOCIAL, POLITICAL AND HUMAN RIGHTS TOPICS, 3400472 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 32 0 1 16 1 0 0 0 0 0 1 1 0 0 0 0 X 56 53 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X LISA MITZNER CO WESTCHESTER COMMUNITY COLLEGE FOUNDATION 9147856670 75 GRASSLANDS AVENUE VALHALLA NY 10595 DAVID SWOPE 3.00 X X 0 0 0 DEBORAH RAIZES 3.00 X X 0 0 0 JOSEPH P CARLUCCI 3.00 X X 0 0 0 JENNIFER GRUENBERG 3.00 X X 0 0 0 MATTHEW MCCROSSON 3.00 X X 0 0 0 BARBARA ABELES 1.00 X 0 0 0 HONORABLE ROBERT ASTORINO 1.00 X 0 0 0 GEORGE E AUSTIN 1.00 X 0 0 0 ROBERT BESHAR 1.00 X 0 0 0 GLENN R BIANCO 1.00 X 0 0 0 HONORABLE TIMOTHY S CAREY 1.00 X 0 0 0 JAMES W COBB 1.00 X 0 0 0 SUSAN L COHEN 1.00 X 0 0 0 LISA W CONNORS 1.00 X 0 0 0 DR IRIS M COOK 1.00 X 0 0 0 BETTY COTTON 1.00 X 0 0 0 LOIS L COWAN 1.00 X 0 0 0 LESTER M CRYSTAL 1.00 X 0 0 0 RICHARD C DRESDALE 1.00 X 0 0 0 ANDREW ECONOMOS 1.00 X 0 0 0 VIRGINIA L GOLD 1.00 X 0 0 0 DR JOSEPH N HANKIN 1.00 X 0 0 0 ANITA HELMRICH 1.00 X 0 0 0 PETER HERRERO 1.00 X 0 0 0 BETTY HIMMEL 1.00 X 0 0 0 SHELDON JACOBS 1.00 X 0 0 0 HONORABLE ANNE JANIAK 1.00 X 0 0 0 ANN F KAUFMAN 1.00 X 0 0 0 KEVIN J KEANE 1.00 X 0 0 0 ROBERT B KIRSCH 1.00 X 0 0 0 LOUIS C KIRVEN III 1.00 X 0 0 0 GEORGE LINDSAY 1.00 X 0 0 0 EDITH LANDAU LITT 1.00 X 0 0 0 BARBARA K MARKS 1.00 X 0 0 0 JUDITH Z MATSON 1.00 X 0 0 0 PHILIP J MCGRATH 1.00 X 0 0 0 EON S NICHOLS 1.00 X 0 0 0 MARTHA NIERENBERG 1.00 X 0 0 0 DAVID ARTHUR OESTREICH 1.00 X 0 0 0 HONORABLE HARRY PHILLIPS III 1.00 X 0 0 0 JOHN W PRIESING 1.00 X 0 0 0 EVE HART RICE 1.00 X 0 0 0 REBECCA SAMBERG 1.00 X 0 0 0 DENISE CR SANTOMERO 1.00 X 0 0 0 ALLEN M SHAPIRO 1.00 X 0 0 0 JASON SHAPLEN 1.00 X 0 0 0 JEROME A SIEGEL 1.00 X 0 0 0 SEAN SIMPSON 1.00 X 0 0 0 HONORABLE CECILE D SINGER 1.00 X 0 0 0 FLORENCE SINSHEIMER 1.00 X 0 0 0 WILLIAM B SNYDER 1.00 X 0 0 0 BETSY M STERN 1.00 X 0 0 0 RUTH SUZMAN 1.00 X 0 0 0 GEORGE M THOM 1.00 X 0 0 0 ELINOR URSTADT 1.00 X 0 0 0 LUCILLE S WERLINICH 1.00 X 0 0 0 ROBERT A SCHLESINGER 35.00 X X 0 73323 0 RAYMOND KEYES 0.00 X 0 0 0 JOHN KLEY 0.00 X 0 0 0 WALTER KORNTHEUER 0.00 X 0 0 0 FRANCES MACEACHRON 0.00 X 0 0 0 FRANK S MCCULLOUGH JR 0.00 X 0 0 0 BETTY J MENKE 0.00 X 0 0 0 THEODORE PELUSO 0.00 X 0 0 0 HANS REISS 0.00 X 0 0 0 HONORABLE KATHERINE S CARSKY 0.00 X 0 0 0 JOYCE M GREENE 0.00 X 0 0 0 CARLY HUNT 0.00 X 0 0 0 LISA MITZNER 35.00 X 113248 0 0 ILENE LIEBERMAN 35.00 X 103667 0 0 EVE LARNER 35.00 X 0 88499 0 LINDA CHAMPANIER 35.00 X 0 101879 0 216915 263701 0 2 0 0 0 0 116274 3832035 619216 3948309 425889 425889 53574 11639 41935 41935 41935 13317805 13251644 66161 66161 66161 33455 116274 29962 3493 3493 4485787 0 0 537478 1808503 1808503 1083836 1083836 233705 67209 48879 117617 421348 307207 57921 56220 47188 22202 9192 15794 14369 14369 51107 26484 9997 14626 18500 18500 114682 114682 42784 25671 12835 4278 21355 12812 6407 2136 14160 7080 3257 3823 11806 4723 2361 4722 4087 2044 940 1103 10381 5191 4152 1038 DEVELOPMENT EXPENSES 37049 37049 SUPPLIES 13779 6338 3307 4134 ALUMNI DEVELOPMENT 13523 13523 COMMUNITY RELATIONS 5020 5020 PRINTING AND PUBLICATIO 2793 1397 642 754 2692 386 1042 1264 3972667 3400472 179432 392763 660 698 6199525 4462389 2297467 1686244 208507 88368 23087 7990 102795 95220 10495 7575 20461671 24139413 730573 709625 29931985 31102302 142653 140405 74632 60184 128683 117262 345968 317851 X 1646507 1609192 13476399 13775818 14463111 15399441 29586017 30784451 29931985 31102302 X 513120 685314 X 0 1 1 X 0 X 4455448 4354874 6758228 3665071 3948309 23181930 4455448 4354874 6758228 3665071 3948309 23181930 7392449 15789481 1196851 1677105 784590 669906 467824 4796276 12573 2133 6764 8036 3493 32999 28011205 951130 0.56370 0.64470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14463111 603475 904743 436037 135851 15399441 13540869 99831 822411 14463111 15104803 335244 -1899178 13540869 1.00000 0 0 102795 95220 7575 7575 ANNUITY PAYMENT LIABILITY 117262 117262 4485787 3972667 513120 548295 137019 685314 1198434 5305823 685314 249404 934718 4371105 114682 114682 4485787 4107389 249404 249404 3857985 114682 114682 3972667 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE RESTRICTED FOR THE FOLLOWING PURPOSES: SCHOLARSHIPS $7,214,398; VIRGINIA MARX CHILDREN'S CENTER PROGRAMS AND SCHOLARSHIPS $2,900,852; COLLEGE DEVELOPMENT AND ENHANCEMENT $3,031,814; GATEWAY SCHOLARSHIPS $1,771,017; GENERAL PURPOSES OF THE FOUNDATION $481,360; AND AGGREGATE, CUMULATIVE LOSSES ABSORBED BY UNRESTRICTED NET ASSETS AMOUNTING TO $683,317. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION'S ACCOUNTING POLICY IS TO PROVIDE LIABILITIES FOR UNCERTAIN TAX POSITIONS WHEN A LIABILITY IS PROBABLE AND ESTIMABLE. MANAGEMENT IS NOT AWARE OF ANY VIOLATION OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAXES, NOR OF ANY EXPOSURE TO UNRELATED BUSINESS INCOME TAX. THERE WERE NO TAX EXAMINATIONS OR ADJUSTMENTS RELATING THEREFROM. TAX RETURNS FOR THE YEARS 2008 THROUGH 2011 ARE CURRENTLY SUBJECT TO AUDIT BY THE APPLICABLE TAXING JURISDICTIONS. 9,528 UNREALIZED CHANGE IN VALUE OF ASSETS IN GIFT ANNUITY. PRESIDENT'S FORUM 66263 46510 19753 18781 CELEBRITY SALONS 83466 69764 13702 11181 149729 116274 33455 29962 29962 3493 1 WESTCHESTER COMMUNITY COLLEGE 175 GRASSLANDS ROAD VALHALLA NY 10595 136608356 1808503 TO SUPPORT THE COLLEGE INSTITUTIONAL DEVELOPMENT AND ENHANCEMENT AND GATEWAY CENTER PROGRAMS. 1 0 SCHOLARSHIPS 950 1083836 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE WESTCHESTER COMMUNITY COLLEGE FOUNDATION OFFICE AWARDS SCHOLARSHIPS TO NEW, INCOMING, CONTINUING AND GRADUATING STUDENTS AND PROVIDES PROGRAM FUNDING TO WESTCHESTER COMMUNITY COLLEGE. SCHOLARSHIPS AND GRANTS COMPLETE AN APPLICATION PROCESS AND APPLICATIONS ARE SUBMITTED TO WCCF SCHOLARSHIP/GRANT COMMITTEE. THE COMMITTEE REVIEWS THE APPLICATIONS AND AWARDS GRANTS BASED ON GRANT CRITERIA AND GUIDELINES. THE CHIEF FINANCIAL OFFICER MONITORS ALL SCHOLARSHIPS AND GRANTS FOR PROPER DISTRIBUTION. X 9 619216 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN DETAIL BY THE FOUNDATION EXECUTIVES AND IS MADE AVAILABLE ELECTRONICALLY AND BY PAPER FOR THE AUDIT COMMITTEE AND BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILLING FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST DISCLOSURE FORMS ANNUALLY. IN ADDITION, NEW BOARD MEMBERS ARE REQUIRED TO COMPLETE THE DISCLOSURE FORM UPON APPOINTMENT. ALL DISCLOSURES REQUIRED UNDER THE POLICY SHALL BE MADE TO THE SECRETARY OF THE BOARD OF DIRECTORS AND SHOULD A CONFLICT OF INTEREST EXIST, A DIRECTOR IS TO REFRAIN FROM PARTICIPATION IN ANY CONSIDERATION OF THE MATTER IN ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE WCC FOUNDATION'S EXECUTIVE DIRECTOR AND SOME OTHER HIGHLY COMPENSATED EMPLOYEES ARE EMPLOYED BY A RELATED ENTITY, WESTCHESTER COMMUNITY COLLEGE OF WESTCHESTER COUNTY. THE RELATED ENTITY ESTABLISHES JOB CLASSES WITH SALARY RANGES THAT ARE BASED UPON MANY FACTORS. WCC FOUNDATION ABIDES BY THE SAME JOB CLASSES AND SALARY RANGES ESTABLISHED BY WESTCHESTER COMMUNITY COLLEGE OF WESTCHESTER COUNTY FOR THEIR HIGHLY COMPENSATED EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 18 A COPY OF THE MOST RECENT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 IS MAINTAINED AT THE WESTCHESTER COMMUNITY COLLEGE OFFICE AND IS MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE MOST RECENT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 IS MAINTAINED AT THE WESTCHESTER COMMUNITY COLLEGE OFFICE AND IS MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 548,295. UNREALIZED CHANGE IN VALUE OF ASSETS IN GIFT ANNUITY -9,528. UNREALIZED FOREIGN CURRENCY TRANSLATION ADJUSTMENT 146,547. TOTAL TO FORM 990, PART XI, LINE 5: 685,314. WESTCHESTER COMMUNITY COLLEGE 75 GRASSLANDS ROAD VALHALLA NY 10595 136608356 PROVIDE PAYROLL AND FACILITIES SUPPORT NY GOVERNMENT NO 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 WESTCHESTER COMMUNITY COLLEGE B 1808503 WESTCHESTER COMMUNITY COLLEGE M 29000 WESTCHESTER COMMUNITY COLLEGE N 220404