2012-03-30T15:38:22-05:00 2011-06-30 FUNARO & CO PC 350 FIFTH AVE 41ST FLR NEW YORK NY 10118 990 2010-07-01 237075717 FRANKLIN UNIVERSITY SWITZERLAND INC FRAN 2129229650 420 LEXINGTON AVENUE NO 2746 NEW YORK NY 10170 PASCAL TONE 2129229650 2012-03-29 1 2129473333 2010 2016-02-24 21:20:13Z PASCAL TONE 420 LEXINGTON AVENUE NEW YORK NY 10170 28229564 0 X WWW.FC.EDU X 1970 DE FRANKLIN COLLEGE IS A NONPROFIT ORGANIZATION WHOSE OBJECTIVE IS TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 27 0 7 0 0 0 750613 2713594 21197445 24713296 19401 61736 685933 740938 22653392 28229564 2871873 4114725 0 0 446239 1590827 0 0 802419 19849640 20518945 23167752 26224497 -514360 2005067 34539596 46194570 24491429 32088914 10048167 14105656 FRANKLIN COLLEGE IS A NONPROFIT ORGANIZATION WHOSE OBJECTIVE IS TO PROVIDE EDUCATION ON AN INTERNATIONAL BASIS. 0 0 19351632 24713296 OPERATIONS OF A FOUR YEAR ACCREDITED COLLEGE WITH AN AVERAGE ENROLLMENT OF 430 STUDENTS 19351632 1 1 0 0 0 0 0 1 0 1 1 0 1 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 401 0 1 7 1 0 1 SZ 0 0 0 0 0 0 0 0 0 0 0 0 X 27 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X PALMETTO MOLLO MOLINARO & SCIACCA 6317618989 91 BROADHOLLOW ROAD MELVILLE NY 11747 DR ERIK NIELSEN 60.00 X X X 436826 0 0 DR JOHN BAILEY 0.00 X 0 0 0 LAURENT BELET 0.00 X 0 0 0 RICHARD H BELL II 0.00 X 0 0 0 TIMOTHY DARRIN 0.00 X 0 0 0 ANGELA W FOWLER 0.00 X 0 0 0 FAUSTO GIANINI 0.00 X 0 0 0 PAOLO GRASSI 0.00 X 0 0 0 NINA KALETSCH 0.00 X 0 0 0 DEIRDRE KINNEY-BRENNAN 0.00 X 0 0 0 B JOHN LINDAHL JR 0.00 X 0 0 0 PAUL C LOWERRE 0.00 X 0 0 0 ERNST-RICHARD MATTHIENSEN 0.00 X 0 0 0 KEVIN W MCNEELY 0.00 X 0 0 0 MARGARET OSMER MCQUADE 0.00 X 0 0 0 AMMAR K MALHAS 0.00 X 0 0 0 SCOTT I OAKFORD 0.00 X 0 0 0 DR FULVIO PELLI 0.00 X 0 0 0 DR WILLIAM PEPPLER 0.00 X 0 0 0 JENNIFER RALEY 0.00 X 0 0 0 PHILIP RENAUD 0.00 X 0 0 0 PASCAL F TONE 0.00 X 0 0 0 CABELL GOOLSBY WEST 0.00 X 0 0 0 DR OTTO A KALETSCH 0.00 X 0 0 0 DR FRANK DWIGGINS 0.00 X 0 0 0 MR LUCIUS FOWLER 0.00 X 0 0 0 MR FRANCES TODD STEWART 0.00 X 0 0 0 MR JAY TUCKER 0.00 X 0 0 0 DR ANDREA TERZI 40.00 X 130526 0 0 MS LORRAINE GRACE 0.00 X 0 0 0 MR JOHN READ TAYLOR 0.00 X 0 0 0 MR CALHOUN ALLEN 40.00 X 136842 0 0 MR TOMASO RIZZI 40.00 X 154737 0 0 MR ROBERT PALLONE 40.00 X 173684 0 0 DR ARMANDO ZANECCHIA 40.00 X 145474 0 0 MS KAREN BALLARD 40.00 X 146316 0 0 DR ROBERT MCCORMICK 40.00 X 136211 0 0 DR FLOYD PARSONS 40.00 X 130211 0 0 1590827 0 0 9 0 1 0 COLT TECHNOLOGY SERVICES MURTSCHENSTRASSE 27 ZURICH SZ 8084 TELECOMMUNICATIONS 155176 GUFFANTI G SAGL VIA RICCARDO ROSSI 15 ARZO SZ 6864 CLEANING SERVICES 142834 KPMG VIA BALESTRA 33 LUGANO SZ 6900 AUDIT 123028 3 2713594 97074 2713594 TUITION, ROOM & BOARD 611710 16499661 16499661 AUXILIARY ENTERPRISES 611710 5840120 5840120 EDUCATIONAL ACTIVITIES 611710 2373515 2373515 24713296 61736 61736 OTHER OPERATING REVENU 611710 671786 671786 FOREIGN CURRENCY EXCHA 611710 45306 45306 APPRECIATION OF ENDOWM 611710 23273 23273 573 573 740938 28229564 740938 0 24775032 4114725 4114725 436826 436826 465263 465263 688738 688738 1567455 1567455 INSTRUCTION 6213330 6213330 AUXILIARY ENTERPRISES E 4636939 4636939 INSTITUTIONAL SUPPORT 2639710 1837291 802419 STUDENT SERVICES 2602712 2602712 ACADEMIC SUPPORT 1425292 1425292 1433507 1433507 26224497 19351632 6070446 802419 1859139 3144673 2361814 43810 1769488 230654 178820 160550 186747 486068 802857 51749421 17908968 26575234 33840453 2479746 108045 2822327 3683741 34539596 46194570 570962 1834811 20744953 26803614 3175514 3450489 24491429 32088914 X 5272208 7399204 2186966 3929380 2588993 2777072 10048167 14105656 34539596 46194570 X 2005067 2052422 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 158250 315700 X 0 2186966 61246 126833 112961 3929380 2467475 108146 33372 20000 2588993 548933 1894731 23811 2467475 1.00000 0 0 8405545 8405545 35611169 12474013 23137156 7417007 5434955 1982052 315700 315700 33840453 UBS INVESTMENT FUND 137940 F UBS ENDOWMENT FUND 465702 F FX CONCEPTS GLOBAL MASTER TRUST FUND 786104 F FX CONCEPTS INC. SHARES 1090000 C 2479746 CHARITABLE REMAINDER UNITRUST 162209 FOREIGN CURRENCY CONTRACTS 1100914 CONSTRUCTION IN PROGRESS 1926712 RESTRICTED CASH 427966 DEFERRED TAX ASSET 65940 3683741 TUITION & ROOM DEPOSITS 1920591 PENSION BENEFITS 1117964 DEFERRED TAX - SHORT TERM 372585 OTHER CURRENT PAYABLES 35829 OTHER NONCURRENT PAYABLES 3520 3450489 28229564 26224497 2005067 612527 1439895 2052422 4057489 24069533 -4114725 -4114725 28184258 45306 45306 28229564 20012044 0 20012044 6212453 6212453 26224497 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: PART X, LINE 2: FINANCIAL STATEMENTS - FOOTNOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BEGINNING WITH THE ADOPTION OF FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, INCLUDED IN FASB ASC SUPTOPIC 740, INCOME TAXES, AS OF JULY 1, 2009, FRANKLIN COLLEGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. PRIOR TO THE ADOPTION OF FIN 48, FRANKLIN COLLEGE RECOGNIZED THE EFFECT OF INCOME TAX POSITIONS ONLY IF SUCH POSITIONS WERE PROBABLE OF BEING SUSTAINED. UPON ADOPTION AND THROUGH JUNE 30, 2010, FRANKLIN COLLEGE RECORDED NO LIABILITY FOR UNCERTAIN TAX POSITIONS, AS ALL OF ITS TAX POSITIONS WERE CONSIDERED HIGHLY CERTAIN OF BEING RECOGNIZED FOR INCOME TAX PURPOSES. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS -4,114,725. PART XII, LINE 4B - OTHER ADJUSTMENTS: FOREIGN CURRENCY EXCHANGE GAIN 45,306. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 4,114,725. APPRECIATION OF OTHER INVESTMENTS 45,306. NET REALIZED & UNREALIZED GAINS ON DERIVITIVES 898,493. FOREIGN CURRENCY TRANSLATION GAINS 1,100,576. PENSION RELATED CHANGES AND OTHER THAN NET PERIODIC BENEFIT COST 53,353. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 FRANKLIN'S DISCRIMINAION POLICY IS INCLUDED ON ITS WEBSITE AS WELL AS IN ITS ACADEMIC CATALOG WHICH IS DISTRIBUTED UPON REQUEST. IT STATES "FRANKLIN COLLEGE DOES NOT DISCRIMINATE IN ITS ADMISISON AND FINANCIAL AID POLICIES AND PRACTICES ON THE BASIS OF FACTORS SUCH AS RACE, SEX, SEXUAL ORIENTATION, AGE, COLOR, RELIGION OR REGIONAL ORIGIN." 0 SWITZERLAND 1 115 PROGRAM SERVICES EDUCATION 7196000 1 115 0 0 1 115 7196000 0 7196000 FINANCIAL AID SWITZERLAND 188 1681813 CREDIT TO ACCOUNT N/A N/A MERIT AWARDS SWITZERLAND 219 2040915 CREDIT TO ACCOUNT N/A N/A FLY FREE AWARDS SWITZERLAND 97 135150 CREDIT TO ACCOUNT N/A N/A CCIS SWITZERLAND 17 63433 CREDIT TO ACCOUNT N/A N/A INSTITUTIONAL AGREEMENTS SWITZERLAND 5 68653 CREDIT TO ACCOUNT N/A N/A RESIDENCE SUPERVISORS SWITZERLAND 3 2857 CREDIT TO ACCOUNT N/A LIFE LONG LEARNING SCHOLARSHIPS SWITZERLAND 104 149138 CREDIT TO ACCOUNT N/A 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: STUDENT RECIPIENTS OF SCHOLARSHIPS AND MERIT AWARDS ARE SELECTED BY THE UNIVERSITY BASED ON A NUMBER OF QUALIFICATIONS INCLUDING: FOR FINANCIAL AID, A STUDENT MUST DEMONSTRATE A FINANCIAL NEED BASED ON THE STUDENT'S FAFSA. THE STUDENT'S GPA IS ALSO CONSIDERED AND MUST BE AT LEAST 2.5. OTHER AWARDS REQUIRE A GPA OF AT LEAST 2.8. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 DR ERIK NIELSEN 376826 0 5000 0 55000 0 0 0 0 0 436826 0 446239 0 DR ANDREA TERZI 130526 0 0 0 0 0 0 0 0 0 130526 0 115318 0 MR CALHOUN ALLEN 136842 0 0 0 0 0 0 0 0 0 136842 0 117170 0 MR TOMASO RIZZI 154737 0 0 0 0 0 0 0 0 0 154737 0 128302 0 MR ROBERT PALLONE 173684 0 0 0 0 0 0 0 0 0 173684 0 150944 0 DR ARMANDO ZANECCHIA 145474 0 0 0 0 0 0 0 0 0 145474 0 134906 0 MS KAREN BALLARD 146316 0 0 0 0 0 0 0 0 0 146316 0 128774 0 DR ROBERT MCCORMICK 136211 0 0 0 0 0 0 0 0 0 136211 0 117264 0 DR FLOYD PARSONS 130211 0 0 0 0 0 0 0 0 0 130211 0 116698 0 SUPPLEMENTAL INFORMATION PART III PART I, LINE 1A - THE PRESIDENT, AS WELL AS HIS WIFE, ARE ENTITLED TO BUSINESS-CLASS TRAVEL FOR THOSE TRIPS CONSIDERED FOR THE BENEFIT OF THE INSTITUTION. ALSO, HE IS ENTITLED TO A HOUSING ALLOWANCE FOR HOUSING WHICH IS IN CLOSE PROXIMITY TO THE CAMPUS. COMPENSATION AND SOME BENEFITS ARE TAXABLE UNDER LOCAL SWISS LAW, HOWEVER, BOTH ITEMS INDICATED ABOVE ARE NOT CONSIDERED TAXABLE COMPENSATION AND THEREFORE, NOT TREATED AS SUCH. ELLEN NIELSEN WIFE OF PRESIDENT 91907 FURNISHED CONSULTING SERVICES RELATED TO PRINTING AND PUBLISHING 0 X 7 97884 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MR. OTTO A. KALETSCH AND MRS. NINA KALETSCH ARE BOTH TRUSTEES AND ARE HUSBAND AND WIFE. ALSO, ANGELA FOWLER AND LUCIUS FOWLER ARE BROTHER AND SISTER. FORM 990, PART VI, SECTION B, LINE 11 THE TAX RETURN IS MAILED TO THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION FOR REVIEW. UPON APPROVAL BY THE VP, IT IS MAILED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES FOR FOR HIS REVIEW AND ULTIMATE APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES ARE REQURIED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST AT THE EARLIEST POSSIBLE TIME, WHILE EMPLOYEES MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTERST TO HIS/HER IMMEDIATE SUPERVISOR, WHO IN TURN MUST INFORM THE VP OF FINANCE AND ADMINISTRATION. ADDITIONALLY, ALL CONFLICTS ON THE BOARD ARE DISCLOSED IN WRITING TO THE TRUSTEES COMMITTEE WHICH IS RESPONSIBLE FOR ISSUES OF GOVERNANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES OF THE COLLEGE HAS A STANDING COMMITTEE FOR PRESIDENTIAL COMPENSATION COMPOSED OF THE CHAIR, VICE CHAIR AND, TWO TRUSTEES WITH SUBSTANTIAL EXPERIENCE IN MATTERS OF LEADERSHIP AND EXECUTIVE COMPENSATION MATTERS. IN DETERMINING COMPENSATION, THE COMMITTEE CONSIDERS COMPARATIVE DATA FROM OTHER INSTITUTIONS, INFORMATION DISSEMINATED AT THE ANNUAL CIC CONFERENCE AND THE CHRONICLE OF HIGHER EDUCATION. SPECIAL ISSUES RELATED TO FRANKLIN'S UNIQUE LOCATION AND CORPORATE STRUCTURE, AND AN ANNUAL EVALUATION OF PRESIDENTIAL PERFORMANCE. THIS PROCESS AND ALL ITS ELEMENTS HAVE BEEN REVIEWED AND APPROVED BY THE AUDIT PARTNER OF THE FIRM AUDITING THE COLLEGE'S FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 612,527. UNREALIZED GAINS ON FOREIGN CURRENCY FORWARD CONTRACTS 1,439,895. TOTAL TO FORM 990, PART XI, LINE 5: 2,052,422.