2011-05-16T12:16:06-07:00 2010-06-30 990 2009-07-01 131740447 COLLEGE OF NEW ROCHELLE COLL 9146545000 29 Castle Place New Rochelle NY 108052330 KEITH BORGE 9146545939 2011-05-13 2009 2016-02-24 21:20:13Z KEITH BORGE 29 CASTLE PLACE NEW ROCHELLE NY 10805 68070861 0 X www.cnr.edu X 1904 NY See Schedule O. 22 21 1595 0 0 0 8662385 4051918 61362674 60044071 2113231 1160660 318042 695387 72456332 65952036 10534879 9919895 0 0 38299082 35036346 91489 51026 2550642 21620633 21436006 70546083 66443273 1910249 -491237 113293329 111664820 80704353 80227408 32588976 31437412 See Schedule O. 0 0 45816365 9919895 54576929 Higher Education: The College of New Rochelle provides undergraduate and graduate education for 3868 students attending the School of Arts & Sciences, the School of Nursing, the School of New Resources and 991 students attending the Graduate School. Expenses include instruction, academic support, library and various administrative costs. 6291137 0 5092339 Room and Board for students residing on the New Rochelle campus and general fee for all students. 0 0 0 52107502 1 1 0 1 0 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 60 0 1 1595 1 0 0 0 0 0 1 1 0 0 0 0 0 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X The College of New Rochelle 9146545000 Attn Financial Affairs New Rochelle NY 108052330 Hugh F Johnston 1 X 0 0 0 Margaret Mary Kelleher OSU 1 X 0 0 0 John C Nicholson 1 X 0 0 0 Sadie L Smith 1 X 0 0 0 Sister Jean Baptiste Nicholson 1 X 0 0 0 James Plowden Wardlaw 1 X 0 0 0 Carla Romita 1 X 0 0 0 Sister Diana Stano 1 X 0 0 0 Marcelle Willock 1 X 0 0 0 Sister Stephanie Wilson 1 X 0 0 0 Michael Ambler 1 X 0 0 0 Lillian Brennan Carney 1 X 0 0 0 Mary Hogan Hearle 1 X 0 0 0 Anne Vitale 1 X 0 0 0 Sister Regina Kehoe 1 X 0 0 0 Dolores Battalia 1 X 0 0 0 Joseph Farina 1 X 0 0 0 Kathleen Finnerty OSU 1 X 0 0 0 Joan Freilich 1 X 0 0 0 Thomas A Conniff 1 X 0 0 0 Judith Kenny 1 X 0 0 0 Chritianne Ricchi 1 X 0 0 0 Stephen Sweeny 40.00 X 401071 0 0 Judith Huntington 40.00 X 256753 0 0 Dorothy Escribano 40.00 X 220173 0 0 Ellen Curry Damato 40.00 X 230571 0 0 Keith Borge 40.00 X 131420 0 0 Brenna Mayer 40.00 X 173198 0 0 Joan Bristol 40.00 X 194010 0 0 Joan Bailey 40.00 X 190186 0 0 Elza Dinwiddie Boyd 40.00 X 133363 0 0 Richard Thompson 40.00 X 128205 0 0 2058950 0 0 34 0 1 0 DB Systems Corp 34 South Broadway White Plains NY 10601 Computer database services 1973577 Paskill Stapelton & Lord One Roberts Avenue Glennside PA 19038 Enrollment Management 239779 Waldorf & Associates PO Box 590 Huntington NY 11743 insurance broker 1742853 Stamats Communications 615 Fifth St PO Box 1888 Cedar Rapids IA 52406 admissions materials 270445 Sodexo Inc Affiliates PO Box 81049 Woburn MA 01813 college food and catering services 1827291 18 0 0 0 0 2524968 1526950 70760 4051918 Tuition and Fees 611310 54576929 54576929 0 0 Room and Board 611310 2568824 2568824 0 0 General Fees 611310 2535845 2535845 0 0 Other Auxiliary 611310 362473 362473 0 0 0 0 0 0 60044071 498926 0 0 498926 0 0 0 0 0 0 0 0 0 0 2780559 0 2118825 0 661734 0 661734 0 0 661734 0 Net Assets Released 611310 695387 695387 0 0 0 0 0 0 695387 65952036 60739458 0 1160660 0 9919895 9919895 1130907 0 1130907 0 28672794 24230744 3551733 890317 0 0 0 0 3015891 2548663 373582 93646 2216754 1873330 274592 68832 144810 0 144810 0 124100 0 124100 0 23371 23371 0 0 51026 51026 109329 0 109329 0 730584 0 523574 207010 3916726 1769471 1884882 262373 2295725 573931 1147863 573931 5997038 5067964 742860 186214 2728037 2305404 337925 84708 2585700 2185118 320294 80288 760526 0 760526 0 Food Service 1609611 1609611 0 0 Postage and Shipping 79249 0 26952 52297 Telephone 217200 0 217200 0 Investment Expenses 114000 0 114000 0 66443273 52107502 11785129 2550642 0 0 90342 297576 10414424 9686137 5371002 4103960 30743 16486 0 0 4966466 4685496 40235 34160 302918 320449 122346774 59212947 63415784 63133827 17434845 19539540 5966 11220604 9847189 113293329 111664820 4826465 4253718 0 0 576012 522425 60880000 60445000 0 0 9500000 8500000 4921876 6506265 80704353 80227408 X 26668671 25507753 1533184 1360780 4387121 4568879 32588976 31437412 113293329 111664820 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 1 23371 0 0 0 23371 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The College of New Rochelle participates and pays annual dues as a member of the Commission of Independent Colleges (New York State). 17934845 162950 1931187 286623 93490 109329 19539540 21585410 7380 -2842727 367326 353572 94320 17934845 0.81 0.19 0 0 0 0 258703 258703 0 95477144 36962359 58514785 0 0 0 0 0 25912672 22250588 3662084 500000 198255 0 698255 63133827 Bond Discount & Cost of Issuance 1307582 Insurance Policies Held 324280 Other Accounts Receivable - Gifts & Bequests, etc. 2822197 Deposits with Bond Trustees 5073656 Beneficial Interest in Perpetual Trust 319474 9847189 0 Interest Rate Swap Agreement 3599170 US Government Grants Refundable 2907095 6506265 65952036 66443273 -491237 1592323 0 202019 0 -1600270 194072 -297165 56848730 930589 0 0 0 930589 55918141 114000 9919895 10033895 65952036 56409378 0 0 0 0 0 56409378 114000 9919895 10033895 66443273 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College of New Rochelle's Endowment Funds are held for long-term growth. Income generated from the Endowment is used to fund scholarships to students. SchD_P10_S00_L00 Schedule D, Part X In June 2006, the FASB issued FASB No. 48, addressing the accounting for uncertainties in income taxes recognized in an organization's financial statements and prescribes a threshold or more-likely-than-not for recognition and de-recognition of tax positions taken or expected to be taken in a tax return. FIN 48 also provides related guidance on measurement, classification, interest and penalties, and disclosures. There was no significant impact to the College's financial statements as a result of the adoption of FIN 48. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Amount not yet recognized as a component of the periodic benefit cost $397,000. Change in value of interest rate swap agreement ($1,997,270). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Scholarship and Grant Allowance $9,919,895. Net changes in Temp Restricted Net Assets ($172,404). Net changes in Perm Restricted Net Assets $181,758. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Scholarship and Grant allowance 1 1 1 The College of New Rochelle publicizes its racial non-disriminatory policy through newspaper advertisement and broadcast as well as during periods of registration. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 The students of The College of New Rochelle participate in the financial aid programs of both the US Department of Education and New York State TAP. During the year the number of students participating in those programs were as follows: Pell (3791) Direct Loan Subsidized (3377) Direct Loan Unsubsidized (2348) SEOG (553) Perkins Loans (253) TAP (2880) APTS(62) 1 X X X X X X X 1 0 0 0 1 Unfunded scholarships and grants (need and non0need based) provided to the students in four schools 3250 9919895 0 Financial Aid Award Letter SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Office of Financial Aid keeps all records of the distribution of scholarships and grants. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Stephen Sweeny 401071 0 0 0 0 0 0 0 63891 0 464962 0 0 Judith Huntington 256753 0 0 0 0 0 0 0 17016 0 273769 0 0 0 Ellen Curry Damato 230571 0 0 0 0 0 0 0 11787 0 242358 0 0 0 Dorothy Escribano 220173 0 0 0 0 0 0 0 8540 0 228713 0 0 0 Joan Bailey 190186 0 0 0 0 0 0 0 33340 0 223526 0 0 0 Joan Bristol 194010 0 0 0 0 0 0 0 6065 0 200075 0 0 0 Brenna Mayer 173198 0 0 0 0 0 0 0 12376 0 185574 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a In one instance, first class travel was necessary as the only means for the President to attend a meeting. The College provides on campus housing for two emplyees; the President and the Vice President for Mission and Identity. This on campus housing is required as part of the individual job description and is for the convenience of the College. Club dues are provided to the President and Vice President for College Advancement for business use when conducting business on behalf of the College. Dormitory Authority of the State of New York 6499032G5 2008-08-06 40000000 Defease NYCIDA 1995 and NYCIDE 1997 replace construction loan 0 0 40000000 0 9927463 0 1115349 2219633 0 2009 0 1 1 1 0 0 0 0 1 0 1 1 0 1 RBS Citizens Bank N A 10 0 0 0 Dorothy Escribano Purchase of Principal Residence X 45000 16486 0 1 1 16486 Carla Romita Member of the Board of Trustees 189236 The purchase of Heating Oil 0 X Education Equipment 1 70760 Appraised Value 0 1 0 F990_P01_S00_L01 Form 990, Part I, Line 1 The College of New Rochelle educates more than 5000 students annually by providing Undergraduate and Graduate College education. The College has four schools, School of Arts & Sciences, School of Nursing and the School of New Resources at the undergarduate level and the Graduate School. The College also provides room and board facilities for those students who need such facilities. F990_P03_S00_L00a Form 990, Part III (Cont. 1) From this tradition the College derives its dedication to the education of women and men in the liberal arts and in professional studies. Building on its original commitment to women, the College also reaches out to those who have not previously had access to higher education; it places particular emphasis on the concept of life long learning. The College is committed to a respect and concern for each individual. It seeks to challenge students to achieve the full development of their individual talents and a greater understanding of themselves. The College strives to articulate its academic tradition and religious heritage in ways that are consonant with the best contemporary understandings of both. It provides opportunities for spiritual growth in a context of freedom and ecumenism. The College tries to respond to the needs of society through its educational programs and service activities and through fostering the concept of education-for-service. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 A draft copy of the Form 990 will be reviewed by the Audit Committee of the Board of Trustees. Any questions will be addressed by the administration and or auditor. A copy of the Form 990 will be provided to all Board of Trustees prior to filing. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Conflict of interest statements are completed annually by the Board of Trustees and are reviewed by the College attorney annually. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The compensation of officers and key employees is reviewed and compared to comparable compensation data for similar institutions using national administrative compensation surveys. The Chair of the Board of Trustees in conjunction with the Compensation Committee of the Board review compensation data. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College of New Rochelle governing documents and conflict of interest policy are posted on the intranet. Audited financial statements are available upon written request to the College. SchL_P02_S00_L00 Schedule L, Part II The interest rate of the loan was at fair market rate at the time of issuance. Payments on the loan have been in accordance with the payment schedule. SchL_P04_S00_L00 Schedule L, Part IV The College of New Rochelle purchases heating oil from Castle Oil Corporation, which a Board member is the Senior Vice President of the Corporation, in addition to her family being a founder of the Corporation. Annually, the College compares heating oil prices and track these prices during the year to determine that the price paid is comparable.