2011-05-12T12:50:51-05:00 2010-06-30 Bonadio & Co LLP 580 South Salina Street Syracuse NY 13202 990 2009-07-01 150543658 CAZENOVIA COLLEGE CAZE 3156557000 95 ALBANY STREET CAZENOVIA NY 13035 Mark Edwards 3156557000 2011-05-12 Jean Close 3154227109 2009 2016-02-24 21:20:13Z MARK TIERNO 95 ALBANY STREET CAZENOVIA NY 13035 41351904 0 X WWW.CAZENOVIA.EDU X 1824 NY TO EDUCATE ITS STUDENTS IN THE LIBERAL ARTS AND SCIENCES AND IN PROFESSIONAL FIELDS SO AS TO FOSTER COMMITMENT TO A LIFE INFORMED BY INTELLECTUAL, ETHICAL, AND AESTHETIC VALUES; TO DEVELOP SKILLS NECESSARY FOR THE PURSUIT OF A MEANINGFUL VOCATION; AND TO INSPIRE DEDICATION TO THE IDEAL OF SERVICE IN THEIR COMMUNITIES. THE COLLEGE OFFERS UNDERGRADUATE AND CONTINUING EDUCATION PROGRAMS, AND IS PRIMARILY FUNDED BY TUITION, AUXILIARY SERVICES REVENUE, AND OTHER STUDENT FEES CHARGED FOR PROGRAMS OFFERED. 29 28 1067 0 352258 -118226 1444965 3525122 31042709 32528857 -443678 639341 59790 48824 32103786 36742144 10662785 11509206 0 14078526 14037475 0 844728 9475575 10305789 34216886 35852470 -2113100 889674 56304493 59784220 27428582 27329716 28875911 32454504 THE COLLEGE IS AN INDEPENDENT, CO-EDUCATIONAL, LIBERAL ARTS COLLEGE FOUNDED IN 1824 AND LOCATED IN CAZENOVIA, NEW YORK. ITS MISSION IS TO EDUCATE ITS STUDENTS IN THE LIBERAL ARTS AND SCIENCES AND IN PROFESSIONAL FIELDS SO AS TO FOSTER COMMITMENT TO A LIFE INFORMED BY INTELLECTUAL, ETHICAL, AND AESTHETIC VALUES; TO DEVELOP SKILLS NECESSARY FOR THE PURSUIT OF A MEANINGFUL VOCATION; AND TO INSPIRE DEDICATION TO THE IDEAL OF SERVICE IN THEIR COMMUNITIES. THE COLLEGE OFFERS UNDERGRADUATE AND CONTINUING EDUCATION PROGRAMS, AND IS PRIMARILY FUNDED BY TUITION, AUXILIARY SERVICES REVENUE, AND OTHER STUDENT FEES CHARGED FOR PROGRAMS OFFERED. 0 0 31619832 11509206 32861635 The College provided educational services to approximately 1,119 students. All program expenses are incurred to further the education of these students. 31619832 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 82 0 1 1067 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 29 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NY X MARK EDWARDS 3156557334 95 ALBANY STREET CAZENOVIA NY 13035 Richard Alberding 1.00 X 0 0 0 Paula Stec Fenger 1.00 X 0 0 0 Dacia Banks 1.00 X 0 0 0 Jack Koerner 1.00 X 0 0 0 Eric M Brown 1.00 X 0 0 0 Albert Budney 1.00 X 0 0 0 HJ Refici 1.00 X 0 0 0 Catherine Gale 1.00 X 0 0 0 Dorion Germany 1.00 X 0 0 0 John S Morris PHD 1.00 X 0 0 0 David WC Putnam 1.00 X 0 0 0 Richard S Scolaro 1.00 X 0 0 0 James G Webster 1.00 X 0 0 0 Arthur W Wertlandt Atty 1.00 X 0 0 0 Susan B Zipper 1.00 X 0 0 0 Betsy Rosenfield Sarnet 1.00 X 0 0 0 Margery Pinet 1.00 X 0 0 0 Victor Sterio 1.00 X 0 0 0 Michael Flannery 1.00 X 0 0 0 Thomas Tartaglia 1.00 X 0 0 0 Roberta Lee August 1.00 X 0 0 0 Mary L Cotter 1.00 X 0 0 0 Carolyn R Deacon 1.00 X 0 0 0 Betty J Roberts 1.00 X 0 0 0 Robert S Constable 1.00 X 0 0 0 Charles B Morgan 1.00 X 0 0 0 Jay Wason 1.00 X 0 0 0 Barbara Wheeler 1.00 X 0 0 0 Winifred E Coleman 1.00 X 0 0 0 Mark Tierno 37.50 X 215684 0 21144 Mark Edwards 37.50 X 120550 0 15615 Grace N Chiang 1.00 X 0 0 0 Richard L Smith 1.00 X 0 0 0 Stephen Fournier 1.00 X 0 0 0 Bradford Wheler 1.00 X 0 0 0 Donald McCrimmon 37.50 X 117652 0 15584 Robert Croot 37.50 X 105008 0 6000 Susan Berger 37.50 X 107619 0 12473 Carol Satchwell 37.50 X 95806 0 6027 Joseph Behan 37.50 X 92228 0 6216 666513 0 70816 4 0 1 0 Rich & Gardner Construction Inc 206 Plum Street Syracuse NY 13204 Contractors 405375 Syracuse Solar and Wind 9483 Shady Pond Drive brewerton NY 13029 Contractors 206457 thyssenkrupp elevator 6067 Corportate Drive E Syracuse NY 13057 Elevator contractor 192461 cazenovia limozine 311 Wavel Street Syracuse NY 13204 Limo Service 115393 PJ green 100 Whitesboro Street Utica NY 13052 bulk mailing service 106941 5 4080 1223704 2297338 3525122 Tuition and fees 611600 23656050 23656050 Auxiliary Services 611600 8739692 8387434 352258 Int-Student loans 611600 133115 133115 32528857 588767 588767 4654198 4603624 50574 50574 50574 9265 4080 6136 3129 3129 MISC 611600 45695 45695 45695 36742144 32861635 352258 3129 11509206 11509206 903068 421801 481267 10721842 8767268 1399443 555131 306025 243467 47944 14614 1281063 1016488 202769 61806 825477 656731 129327 39419 20786 20786 67500 67500 126050 126050 169159 140894 22442 5823 384042 287682 78755 17605 1812762 1539822 207824 65116 255507 191325 18468 45714 68802 48845 19957 1222425 1222425 1652357 1585170 67187 279909 268514 11395 AUXILIARY ENTERPRISES 1834421 1834421 UTILITIES 1090640 1046214 44426 MISCELLANEOUS 885192 839559 6133 39500 UBIT expenses 436237 436237 35852470 31619832 3387910 844728 67986 509377 5970 6000 1149579 2837413 344870 551201 523242 448147 56533 38524 910159 851247 58195210 27195357 31329602 30999853 20408723 21402427 1507829 2140031 56304493 59784220 1504564 1034994 24242833 24424797 1681185 1869925 27428582 27329716 X 24861341 27637310 833362 1569689 3181208 3247505 28875911 32454504 56304493 59784220 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3181208 66297 3247505 3000847 180361 3181208 1.00000 1 0 890977 890977 43068888 16025371 27043517 284837 38083 246754 10657401 8874004 1783397 3293107 2257899 1035208 30999853 Advance Payments 224785 Swap Agreement Adjustment 554027 Annuity Payable 25912 Asset Retirement Obligation 1065201 1869925 36742144 35852470 889674 2725164 -36245 2688919 3578593 39305013 2725164 -36245 2688919 36616094 126050 126050 36742144 35726420 0 35726420 126050 126050 35852470 Part X: Description of Uncertain Tax Positions Under FIN 48: The College has adopted ASC Section 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. For tax-exempt entities, their tax-exempt status itself is deemed to be an uncertainty, since events could potentially occur to jeopardize their tax-exempt status. ASC Section 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosures, and transition. The College adopted the provisions of ASC Section 740 in fiscal year 2009 and there was no impact on the consolidated financial statements. At the date of adoption and as of June 30, 2010, the College did not have a liability for unrecognized tax benefits. The College files tax returns in the U.S. federal jurisdiction and New York State. The College is no longer subject to U.S. federal and state income tax examinations by tax authorities for years through 2007. Part XI, Line 8 - Other Adjustments: UNREALIZED LOSS ON SWAP: -36245. Part XII, Line 2d - Other Adjustments: Unrealized loss on swap: -36245. Part V, Line 4 - the earnings on the College's endowed funds are used for scholarships, capital funding, and annual support for operations as defined by the budget. 1 1 1 non discriminatory policies are contained in the college catalog and the admissions information packet 1 1 1 1 0 0 0 0 0 0 0 0 1 1 PELL, SEOG, CWS, TITLE IV, VEA AWARDS GIVEN TO STUDENTS BASED UPON NEED WHERE COLLEGE ACTS AS CUSTODIAL AGENT FOR THE FUNDS. IN SOME INSTANCES THE COLLEGE CONTRIBUTES TO SCHOLARSHIPS AND STUDENT LOANS. PELL - BASIC EDUCATIONAL OPPORTUNITY GRANTS SEOG - SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS CWS - COLLEGE WORK STUDY PROGRAM GSL/PLUS LOAN PRGORAM - STAFFORD GUARANTEED STUDENT LOAN TITLE IV - LEARNING ACCELERATION PROGRAM VEA - VOCATIONAL EDUCATION ACTFINANCIAL ASSISTANCE IN THE FORM OF PERKINS LOAN WAS SUSPENDED IN 1988-1989 WHEN THE DEFAULT RATE WAS GREATER THAN 15%. STEPS WERE TAKEN TO LOWER THE DEFAULT RATE RESULTING IN THE COLLEGE RECEIVING FINANCIAL ASSISTANCE ALLOCATIONS IN THE FORM OF PERKINS LOANS IN THE 1991-1992 YEAR. 1 1 Workstudy Grant 277 66830 Cash SEOG Matching Grant 300 59309 Cash Cazenovia College Grants 934 11383067 Cash Other Information: Part IV: The college verifies that the recipient meets the guidelines of each specific award. The College applies grant monies directly to student balances. X X X X 0 1 X X X X X 0 0 0 0 0 0 0 0 0 Mark Tierno 215684 0 0 0 0 0 12079 0 9065 0 236828 0 205936 0 Supplemental Information Part III Part I, question 1b - Dr. Tierno is compensated per his signed employment contract. Madison County IDA 521325841 2006-03-28 9975000 CAPITAL IMPROVEMENTS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 susan berger family member works with bond, schoeneck & King, LLP 48531 bond, schoeneck & king, llp provides legal services to the College. 0 richard smith partner at bond, schoeneck & king, llp 48531 bond, schoeneck & king, llp provides legal services to the College. 0 Form 990, Part VI, Section B, line 11 THE 990 WAS REVIEWED BY A MEMBER OF THE AUDIT COMMITTEE WHO IS AN INDEPENDENT TAX PROFESSIONAL WITH A REGIONAL CPA FIRM. After his review it was sent to the full board for review and approval. Form 990, Part VI, Section B, line 12c THE COLLEGE REQUIRES CONFLICT OF INTEREST QUESTIONNAIRES TO BE COMPLETED ANNUALLY FOR OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES AND MEMBERS OF MANAGEMENT. THESE ARE MAINTAINED BY THE COLLEGE. Form 990, Part VI, Section B, line 15 THE SALARIES OF TOP MANAGEMENT ARE REVIEWED BY THE EXECUTIVE COMMITTEE ON AN ANNUAL BASIS. THE COMMITTEE UTILIZES COMPENSATION AND BENEFITS INFORMATION FROM SIMILAR COLLEGES. Form 990, Part VI, Section C, line 19 The college documents are available upon request. The financial statements are available through various college comparative data websites. form 990 part ix line 2c responsibility for audit The audit committee is responsible for the oversight of the audit and has responsibility for final approval of the audited financial statements as well as appointing outside accountants. Schedule K Supplental Information TOTAL PROCEEDS $9975000 ISSUANCE COSTS 199500 WORKING CAP EXPENDITURES 3600003 CAPITAL EXPENDITURES FROM PROCEEDS 6175497 YEAR OF SUBSTANTIAL COMPLETION: 2006 cazenovia grill llc 22 sullivan st cazenovia NY 13035 264663877 provide additional dining options for the benefit of the college NY cazenovia college