2012-11-13T12:00:41-06:00 2012-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2011-07-01 141468399 MOUNT SAINT MARY COLLEGE MOUN 8455613209 330 Powell Avenue Newburgh NY 125503412 CATHLEEN KENNY 2012-11-12 true Rachel Spurlock P00520729 5023263996 2011 2016-02-24 21:20:13Z CATHLEEN KENNY 330 Powell Avenue Newburgh NY 125503412 79312946 false X WWW.MSMC.EDU X 1960 NY THE COLLEGE IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION COMMITTED TO PROVIDING STUDENTS WITH A LIBERAL ARTS EDUCATION TO PREPARE THEM FOR LIVES OF LEADERSHIP AND SERVICE. THROUGH A VARIETY OF MAJORS AND PROFESSIONAL PROGRAMS, STUDENTS ARE ALSO PREPARED FOR CAREER ENTRY OR GRADUATE AND PROFESSIONAL STUDIES. 25 25 1149 28 0 0 5103853 2929366 64724404 68571953 6924079 1311799 -38818 -37085 76713518 72776033 12863829 14081332 0 0 26361767 27863954 16897 24518 691393 24559054 26215393 63801547 68185197 12911971 4590836 178998399 182959159 54877614 58886714 124120785 124072445 X AS REFLECTED IN ITS MOTTO "DO CE ME VERITATEM" (TEACH ME THE TRUTH), MOUNT SAINT MARY COLLEGE, IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION COMMITTED TO PROVIDING STUDENTS WITH A LIBERAL ARTS EDUCATION TO PREPARE THEM FOR LIVES OF LEADERSHIP AND SERVICE. THROUGH A VARIETY OF MAJORS AND PROFESSIONAL PROGRAMS, STUDENTS ARE ALSO PREPARED FOR CAREER ENTRY OR GRADUATE AND PROFESSIONAL STUDIES. CONSISTENT WITH JUDEO-CHRISTIAN VALUES AND THE DOMINICAN TRADITION OF EDUCATION THAT VALUES THE INHERENT WORTH OF THE INDIVIDUAL, THE MISSION OF MOUNT SAINT MARY COLLEGE IS TO CREATE AN ENVIRONMENT WHICH FOSTERS CLOSE STUDENT-FACULTY INTERACTION THAT ENABLES STUDENTS TO REACH THEIR FULL POTENTIAL AS LIFELONG LEARNERS. MOUNT SAINT MARY COLLEGE STRIVES TO PROVIDE A STIMULATING ENVIRONMENT THAT PROMOTES THE INTELLECTUAL AND PERSONAL GROWTH OF UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION STUDENTS. false false 42198614 14081332 52314779 MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2710 FULL AND PART TIME STUDENTS. 12719758 0 13435852 ROOM AND BOARD AND BOOKSTORE OPERATIONS 2601754 0 2131883 BISHOP DUNN MEMORIAL SCHOOL - ELEMENTARY SCHOOL OPERATIONS 462447 0 689439 OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. 462447 0 689439 57982573 true true false true false false false false true true true false false true true true false true false true false false true true false false false true true true false false false false false false false false false false true false false false false false false false false false true 3509 0 true 1149 true false false false false false true true true 1 false false false X 25 25 false false false false false false false true true false false true true true true true true true true false X N Mazza 8455693209 330 Powell Avenue Newburgh NY 125503412 LUDWIG H BACH 10.00 X X 0 0 0 R ABEL GARRAGHAN 10.00 X X 0 0 0 ALBERT J GRUNER DMD 5.00 X 0 0 0 ANNA HALPINE 5.00 X 0 0 0 CHRIS J GAWLY ESQ 5.00 X 0 0 0 DAVID MELBY 5.00 X 0 0 0 DUNCAN MAXWELL ANDERSON 5.00 X 0 0 0 FATHER JOHN A LANGLOIS OP 5.00 X 0 0 0 FRANK A MARCHETTI 5.00 X 0 0 0 GREG M COOPER CPA CSEP 5.00 X 0 0 0 HARRISON H BUXTON III 5.00 X 0 0 0 ITA M RAHILLY CPA 5.00 X 0 0 0 JOAN P KAPLAN 5.00 X 0 0 0 JOAN PATRICIA MILLENS 5.00 X 0 0 0 JOSEPH A O'LOUGHLIN 5.00 X 0 0 0 MARIANNA R KENNEDY ESQ 5.00 X 0 0 0 PETER M OLYMPIA 5.00 X 0 0 0 ROBERT MURPHY 5.00 X 0 0 0 SISTER ANN P STANKIEWICZ OP 5.00 X 0 0 0 SISTER LORELLE ELCOCK OP 5.00 X 0 0 0 SISTER LUCY POVILONIS OP 5.00 X 0 0 0 SISTER MADELEINE TACY OP 5.00 X 0 0 0 SISTER MARGARET ANDERSON OP 5.00 X 0 0 0 SUSAN D NAJORK 5.00 X 0 0 0 THOMAS C DONAHOE 5.00 X 0 0 0 WENDY E LONG ESQ 5.00 X 0 0 0 CATHLEEN KENNY 35.00 X 137008 0 31404 FATHER KEVIN MACKIN 35.00 X 195990 0 33359 HARRY STEINWAY 35.00 X 116553 0 19852 IRIS TURKENKOPF 35.00 X 150767 0 29310 JAMES RAIMO 35.00 X 135955 0 31212 JOSEPH VALENTI 35.00 X 135732 0 29922 JAMES BEARD 35.00 X 100958 0 17579 JAMES COTTER 35.00 X 116877 0 18576 JOHN REILLY 35.00 X 101533 0 18310 PAUL SCHWARTZ 35.00 X 103330 0 18502 WILLIAM LAHAR 35.00 X 103896 0 24059 1398599 0 272085 12 false true true HIGHLAND ASSOCIATES 102 HIGHLAND AVENUE CLARKS SUMMIT PA 18411 ARCHITECTURAL SERVICES 477994 LCS FACILITY MAINTENANCE INC 36 COTTAGE STREET POUGHKEEPSIE NY 12601 FACILITY SERVICES 368139 SOBO & SOBO LLP 1 DOLSON AVENUE MIDDLETOWN NY 10940 LEGAL SERVICES 172269 ALGONQUIN CONSTRUCTION INC 1073 MAIN STREET SUITE 204 FISHKILL NY 12524 CONSTRUCTION SERVICES 170518 SPECHT ELECTRIC INC 24 STILL HOLLOW ROAD NEWBURGH NY 12550 ELECTRICAL SERVICES 158533 5 0 0 169407 0 967654 1792305 109933 2929366 TUITION AND FEE INCOME 611310 52314779 52314779 0 0 DORMITORIES, FOOD, SERVICE, CAMPUS STORE 611310 13435852 13435852 0 0 ELEMENTARY SCHOOL - PRE K TO GRADE 8 611110 2131883 2131883 0 0 COMMUNITY EDUCATION 611310 324294 324294 0 0 OTHER SOURCES 611310 365145 365145 0 0 0 0 0 0 68571953 948056 948056 0 0 0 0 0 0 0 0 0 0 26200 0 45630 0 -19430 0 -19430 0 0 -19430 6772615 6408872 363743 0 363743 0 0 363743 64756 169407 82411 -17655 0 -17655 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72776033 69520009 0 326658 0 14081332 14081332 0 0 869155 733423 135732 0 20285218 17348561 2697227 239430 1247470 982952 239569 24949 3762342 3085120 601975 75247 1699769 1393811 271963 33995 0 66017 66017 117595 117595 0 24518 24518 127757 127757 4287911 4049280 238631 735330 499175 185481 50674 1636937 695825 871828 69284 683560 377159 306401 0 1571341 810409 760932 468185 367314 86802 14069 0 151791 131480 18148 2163 1886944 1726185 160759 0 5516939 5097057 419882 466041 291731 174310 ELEMENTARY SCHOOL 2243762 2243762 BOOKSTORE 856665 856665 MAINTENANCE & REPAIRS 1319756 1264747 55009 TUITION WAIVERS 653592 653592 3425270 2026416 1377522 21332 68185197 57982573 9511231 691393 0 9548951 9620890 3971802 4506648 1509925 1290194 715264 554696 217830 206776 859604 950746 146666115 37883737 105114360 108782378 29196157 29353246 20514373 20504285 0 0 7350133 7189300 178998399 182959159 2564096 2020594 1532743 1557495 46806607 45455607 669042 3156643 3305126 6696375 54877614 58886714 X 113556637 112751947 6202808 6878001 4361340 4442497 124120785 124072445 178998399 182959159 X 4590836 -4639176 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 0 0 false Description of the activities reported on Lines 1a through 1i Schedule C, Part II-B, Line 1 THE COLLEGE DOES NOT UNDERTAKE ANY DIRECT LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER IN SEVERAL HIGHER EDUCATION ASSOCIATIONS SUCH AS NACUBO (NATIONAL ASSOCIATION OF COLLEGE UNIVERSITY BUSINESS OFFICERS) AND CICU (COMMISSION ON INDEPENDENT COLLEGES AND UNIVERSITIES) TO WHICH IT PAYS DUES. A PORTION OF THESE DUES ARE USED FOR LOBBYING PURPOSES. 4691673 81157 281732 283433 4771129 4452398 223584 114685 98994 4691673 3702471 790939 66846 107858 4452398 2183615 1594517 -20511 55150 3702471 0.00000 0.93112 0.06888 false false 6410680 6410680 131110380 33168462 97941918 0 7604840 4715275 2889565 1540215 1540215 108782378 0 F 0 LIMITED PARTNERSHIPS - INTERNATIONAL INVESTMENTS 7130359 F DOMESTIC EQUITY FUND 3230502 F INTERNATIONAL EQUITY FUND 2966037 F HEDGE FUNDS 7177387 F 20504285 0 CONDITIONAL ASSET RETIREMENT OBLIGATION 494455 DERIVATIVE LIABILITY 5598172 GOVERNMENT GRANTS REFUNDABLE 603748 6696375 72776033 68185197 4590836 -1525101 -3114075 -4639176 -48340 54183566 -1525101 -2986034 -4511135 58694701 14081332 14081332 72776033 54231906 128041 128041 54103865 14081332 14081332 68185197 Intended uses of endowment funds Schedule D, Part V, Line 4 THE PORTION OF THE PERPETUAL ENDOWMENT FUNDS THAT IS REQUIRED TO BE RETAINED BY EXPLICIT DONOR RESTRICTION IS AS FOLLOWS FOR 2012: - RESTRICTED FOR SCHOLARSHIP SUPPORT $2,476,368 - RESTRICTED FOR INSTITUTIONAL SUPPORT $1,966,129 THE PORTION OF THE TEMPORARILY RESTRICTED ENDOWMENT FUNDS SUBJECT TO A TIME RESTRICTION IS AS FOLLOWS FOR 2012: - RESTRICTED FOR INSTITUTIONAL SUPPORT $328,632 FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE COLLEGE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS WILL BE RECOGNIZED ONLY IF THE TAX POSITION IS CONSIDERED MORE-LIKELY-THAN-NOT TO BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. MANAGEMENT BELIEVES THE COLLEGE DOES NOT HAVE ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT JUNE 30, 2012 AND 2011. THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATION BY U.S. FEDERAL TAXING AUTHORITIES AND FOR ALL STATE INCOME TAXES THROUGH 2007. THE COLLEGE DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE COLLEGE WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE COLLEGE HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2012 AND 2011. true true true true true true true false false false false false false false false true false true Financial aid or assistance from a governmental agency Schedule E, Line 6a THE COLLEGE RECEIVES FEDERAL PELL FUNDS AND NYS TAP AWARDS AND NYS SCHOLARSHIPS. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 277000 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 7130359 0 0 7407359 false false true false false false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL X X X X X X X true LESTER INC 18 BUSINESS PARK DRIVE BRANDFORD CT 06405 FUNDRAISING false 38288 24454 13834 38288 24454 13834 GOLF TOURNAMENT 97075 62742 34333 1000 2650 25040 0 0 8353 GOLF TOURNAMENT 29908 12852 17056 450 0 14310 0 2000 4411 1 107180 93813 13367 0 0 0 13690 10507 0 234163 169407 64756 1450 2650 39350 13690 12507 12764 82411 -17655 true SCHOLARSHIPS 2257 14081332 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE ORGANIZATION HAS RULES IN PLACE TO ENSURE THAT SCHOLARSHIP AID PROVIDED TO STUDENTS IS USED FOR AUTHORIZED PURPOSES. ADDITIONAL DETAIL IS AVAILABLE UPON REQUEST. X X true true X X X false false false false false false false false false JAMES RAIMO 135312 0 0 0 643 0 14127 0 17085 0 167167 0 0 0 JOSEPH VALENTI 135313 0 0 0 419 0 12715 0 17207 0 165654 0 0 0 CATHLEEN KENNY 136579 0 0 0 429 0 14181 0 17223 0 168412 0 0 0 IRIS TURKENKOPF 146820 0 0 0 3947 0 16206 0 13104 0 180077 0 0 0 FATHER KEVIN MACKIN 195990 0 0 0 0 0 17639 0 15720 0 229349 0 0 0 Housing allowance or residence for personal use Schedule J, Part I, Line 1a COLLEGE PROVIDES HOUSING FOR THE PRESIDENT AS PART OF HIS EMPLOYMENT CONTRACT. PURSUANT TO IRC SEC. 119, HOUSING PROVIDED TO THE PRESIDENT IS NON-TAXABLE. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE COLLEGE PROVIDES THE PRESIDENT WITH A CLUB MEMBERSHIP AS PART OF HIS EMPLOYMENT CONTRACT. THE CLUB MEMBERSHIP IS USED SOLELY FOR BUSINESS PURPOSES. DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 649901K95 2003-02-13 24411914 CONSTRUCT A NEW DORMITORY CALLED SAKAC HALL. false false false DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64983QLJ6 2005-09-01 29265000 RENOVATION, MODERNIZATON AND EXPANSION COLLEGE COURTS FACILITY, 10 BUILDING STUDENT HOUSING COMPLEX. false false false 5255000 0 24883488 1705265 373000 0 470704 711414 0 19781987 1841118 0 2003 true false true true 3110000 0 30668708 1661923 737875 0 547767 937439 0 26783704 0 0 2008 false false true true false false false false 0.0000 0.0000 0.0000 false false false false 0.0000 0.0000 0.0000 false false false 0.0 false 0.0 false true false true true DEUSTCHE BANK 30.0 false false false 0.0 false true BOND ISSUES PART I, COLUMN (E) PART I(E) ISSUE PRICE DIFFERS FROM PART II LINE 3 TOTAL PROCEEDS OF ISSUE. THIS IS DUE TO INTEREST EARNED. X 1 12113 APPRAISAL X 4 97820 MARKET VALUE 0 false true true Third parties used to solicit, process, or sell noncash contributions Schedule M, Part I, Line 32b THE WINSTON ART GROUP SOLD ON BEHALF OF THE COLLEGE A COLLECTION OF ASIAN ART AND ANTIQUES. Number of contributions or items contributed. Schedule M, part I, column (b), Line 9 Number of contributions or items contributed. Schedule M, part I, column (b), Line 1 Description of other program services Form 990, Part III, Line 4d OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE COMPLETED FORM 990 IS DISTRIBUTED TO THE BOARD OF TRUSTEES IN ADVANCE OF FILING FOR THEIR REVIEW. Conflict of interest policy Form 990, Part VI, Section B, Line 12c THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION SHARES COMPLETED CONFLICT OF INTEREST QUESTIONAIRES WITH ALL TRUSTEES IN DECEMBER'S BOARD MEETING. CONFLICTS ARE REVIEWED AND RESOLVED BY THE MEMBERS OF THE EXECUTIVE COMMITTEE. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE PRESIDENT'S COMPENSATION IS SET BY THE BOARD OF TRUSTEES. HIS SALARY IS REVIEWED AND ADJUSTED IN CONNECTION WITH AN ANNUAL PERFORMANCE REVIEW. THE COLLEGE HAS IMPLEMENTED A POLICY THAT CALLS FOR AN ANNUAL REVIEW OF SALARIES OF OFFICERS AND KEY EMPLOYEES BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEIR REVIEW IS DOCUMENTED IN THE COMMITTEE MINUTES, AND WAS LAST DONE IN SEPTEMBER 2011. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS SET BY THE BOARD OF TRUSTEES AND BASED ON A REVIEW OF PUBLISHED DATA THAT COMPARES SALARIES OF OFFICER AT SIMILAR SIZED INSTITUTIONS. THE COLLEGE HAS IMPLEMENTED A POLICY THAT CALLS FOR AN ANNUAL REVIEW OF SALARIES OF OFFICERS AND KEY EMPLOYEES BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEIR REVIEW WAS DOCUMENTED IN THE MAY 2012 MINUTES. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - -4639176;