2011-07-12T13:19:26-05:00 2010-08-31 Marks Paneth & Shron LLP 622 Third Avenue New York NY 10017 990 2009-09-01 110461385 Vaughn college of aeronautics and technology VAUG 7184296600 8601 23rd avenue east elmhurst NY 11369 JOHN C FITZPATRICK 7184296600 2011-07-12 1 2125038800 2009 2016-02-24 21:20:13Z JOHN C FITZPATRICK 8601 23rd avenue east elmhurst NY 11369 29911941 0 X www.vaughn.edu X 1932 NY VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY PROVIDES A CULTURE OF EXCELLENCE IN WHICH RIGOROUS DEGREE, PROFESSIONAL, TECHNICAL AND CERTIFICATION PROGRAMS ARE OFFERED. THESE PROGRAMS, BULIT UPON OUR AERONAUTICAL HERITAGE, WILL INCORPORATE THE LATEST TECHNOLOGY AND MEET THE UNIVERSAL NEEDS OF THE INDUSTRIES THEY SERVE. THE RESULT WILL BE WELL-EDUCATED GRADUATES WHO ARE TRAINED, QUALIFIED AND SUCCESSFUL IN THEIR FIELDS. 18 17 415 0 0 0 5365315 7514384 16950354 21774671 474221 425795 88106 29461 22877996 29744311 1738725 2166267 0 11090971 12385185 0 237368 11956461 13968460 24786157 28519912 -1908161 1224399 57739473 61070850 45409874 46575790 12329599 14495060 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY IS AN INSTITUTION DEDICATED TO PROVIDING A DISTINCTIVE EDUCATION TO A DIVERSE POPULATION OF STUDENTS. OUR MISSION IS TO CREATE AN ENVIRONMENT THAT CULTIVATES PERSONAL GROWTH AND LEADERSHIP IN PREPARATION FOR SUCCESSFUL CAREERS. 0 0 23098025 2166267 20272742 INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,450 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS. 2631989 1501929 AUXILIARY SERVICES - VAUGHN OPERATES A 200 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2009/2010 APPROXIMATELY 135 STUDENTS WERE LIVING IN THE RESIDENCE HALL. THE COLLEGE ALSO OPERATES A CAFETERIA TO PROVIDE FOOD SERVICES TO BOTH RESIDENTIAL AND COMMUTER STUDENTS. 25730014 1 1 0 0 0 0 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1876 0 415 1 0 0 0 0 0 0 0 0 0 1 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT G WALDMANN 7184296600 86-01 23rd avenue FLUSHING NY 11369 JOHN C FITZPATRICK 40.00 X X 281503 0 48735 THOMAS APPERSON 1.00 X X 0 0 0 ELAINE ASCH-ROOT 1.00 X 0 0 0 SUSAN BAER 1.00 X X 0 0 0 ANNE CRUDGE 1.00 X X 0 0 0 JULIAN M EARLS 1.00 X 0 0 0 JOHN H ENDERS 1.00 X 0 0 0 TED G GAVRILIS 1.00 X 0 0 0 MONROE W HATCH JR 1.00 X 0 0 0 CLYDE KIZER 1.00 X X 0 0 0 THOMAS S MAROTTA 1.00 X 0 0 0 THOMAS J MCKEE 1.00 X 0 0 0 FRANK L ROSENBERG 1.00 X 0 0 0 OSWIN MOORE 1.00 X 0 0 0 LINDA ORLADY 1.00 X 0 0 0 GEORGE A VAUGHN 1.00 X 0 0 0 JOSEPH A WERNER 1.00 X 0 0 0 ROBERT ZINCONE 1.00 X 0 0 0 ROBERT G WALDMANN 40.00 X 172010 0 23962 SHARON DEVIVO 40.00 X 179275 0 24936 JAIN KALPANA 40.00 X 133930 0 27248 ERNIE SHEPELSKY 40.00 X 138190 0 26417 KEVIN WICKS 40.00 X 101946 0 20123 HASSAN RAHEMI 40.00 X 117801 0 20700 NAVEEN SETH 40.00 X 107496 0 12706 DOMENIC PROSCIA 40.00 X 103550 0 11889 1335701 0 216716 14 0 1 0 JOHN CIARDULLO ASSOCIATES 575 8TH AVENUE 20TH FL NEW YORK NY 10018 ARCHITECTURAL FEES 1004360 AUSTIN & WILLIAMS 125 KENNEDY DRIVE SUITE 100 HAUPPAUGE NY 117884017 ADVERTISING 900059 TRITON CONSTRUCTION 100 QUENTIN ROOSEVELT BLVD GARDEN CITY NY 11530 CONSTRUCTION 537133 UNITED UNLIMITED 44-10 30TH AVENUE ASTORIA NY 11103 CLEANING 360640 LABOR MANAGEMENT CONCEPTS INC 200 BELLEVILLE Tpk N ARLINGTON NJ 07031 SECURITY 353687 19 6491988 1022396 321998 7514384 STUDENT TUITION & FEES 611710 20272742 20272742 AUXILIARY REVENUE 900099 1501929 1501929 21774671 391322 391322 202103 167630 34473 34473 34473 MISCELLANEOUS FEES 900099 29461 29461 29461 29744311 21774671 0 455256 2166267 2166267 1013047 626616 360168 26263 9548734 9243110 286462 19162 358427 346955 10753 719 782571 757523 23477 1571 682406 660564 20472 1370 88459 88459 142500 142500 56004 56004 944005 742461 125968 75576 1250007 1175359 26241 48407 840379 609658 200876 29845 12844 12844 1387208 1302866 84342 228715 196125 24794 7796 14801 12193 708 1900 1996517 1875129 121388 2347162 2204455 142707 53324 50082 3242 MISCELLANEOUS 1574580 1532975 41605 BAD DEBT 650000 650000 COLLEGE RELATIONS 616192 564487 29987 21718 EQUIPMENT 569212 563288 2883 3041 CONTRACTED SERVICE 174582 116186 58396 1021969 970871 51098 28519912 25730014 2552530 237368 393799 16962 1380272 2420964 645044 1130809 27022 32795 65825021 30177505 35304572 35647516 1786 19215228 21078615 771750 743189 57739473 61070850 2206937 3438221 972290 486111 38733903 38071536 2800000 3850000 696744 729922 45409874 46575790 X 11187297 12012474 1032740 2360747 109562 121839 12329599 14495060 57739473 61070850 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1142302 1302277 91705 53698 2482586 130491 922600 107840 18629 1142302 0.44300 0.04900 0.50800 0 0 2557733 2557733 49533733 16443950 33089783 13733555 13733555 0 35647516 ALTERNATIVE INVESTMENTS 18364020 F AMOUNTS HELD BY BOND TRUSTEE 2714595 F 21078615 ASSET RETIREMENT OBLIGATION 729922 729922 29744311 28519912 1224399 941062 941062 2165461 30694372 941062 8999 950061 29744311 0 29744311 28528911 8999 8999 28519912 0 28519912 Part V, Line 4: Description of Intended Use of Endowment Funds: To provide funds for student scholarships. Part X: Description of Uncertain Tax Positions Under FIN 48: THE COLLEGE RECOGNIZES THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. THE COLLEGE EVALUATES, ON AN ANNUAL BASIS, THE EFFECTS OF ANY UNCERTAIN TAX POSITIONS ON ITS FINANCIAL STATEMENTS. AS OF AUGUST 31, 2010 AND 2009, THE COLLEGE HAS NOT IDENTIFIED OR PROVIDED FOR ANY SUCH POSITIONS. 1 1 1 CATALOG 1 1 1 1 0 0 0 0 0 0 0 0 1 0 VAUGHN COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAM INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY (FWS) PROGRAM AND THE PERKINS LOAN PROGRAMS. 1 INDIA 0 0 INSTRUCTIONAL AIRPORT/AIRLINE MANAGEMENT; ELECTRICAL ENGINEERING TECHNOLOGY 71639 0 0 71639 1 SCHOLARSHIPS 1273 2166267 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The College offers several scholarship opportunities for students. The primary scholarships and the guidelines for qualifying are: FOUNDERS SCHOLARSHIPS THESE SCHOLARSHIPS ARE AWARDED TO STUDENTS UPON ACCEPTANCE TO A BACHELOR OF SCIENCE DEGREE PROGRAM AT VAUGHN. TO BE CONSIDERED, APPLICANTS MUST ATTAIN A CUMULATIVE HIGH SCHOOL AVERAGE OF AT LEAST A "B" AND COMBINED SAT1 SCORE OF AT LEAST 1000. STUDENTS WHO MEET THESE MINIMUM CRITERIA WILL BE CONSIDERED FOR AWARDS, BASED ON THEIR GRADES AND EXAM SCORES, BY VAUGHN COLLEGE'S SCHOLARSHIP COMMITTEE. THE AWARDS MAY BE RENEWABLE FOR UP TO FOUR YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 COMULATIVE GRADE POINT AVERAGE (GPA). BOARD OF TRUSTEES GRANTS THE BOARD OF TRUSTEE ALLOCATES FUNDS TO BE USED IN AWARDING GRANT-IN-AID ASSISTANCE TO NEW AND CONTINUING STUDENTS. GRANT ARE AWARDED TO STUDENTS WHO ARE MATRICULATING ON A FULL OR PART-TIME BASIS IN BACHELOR AND ASSOCIATE DEGREE PROGRAMS. RECIPIENTS ARE SELECTED ON THE BASIS OF THEIR ACADEMIC PERFORMANCE AND FINANCIAL AID STATUS. AWARDS ARE DESIGNATED FOR A SPECIFIC ACADEMIC YEAR AND ARE RENEWABLE EACH SEMESTER BASED ON SATISFACTORY ACADEMIC PERFORMANCE AND THE AVAILABILITY OF FUNDS. TRANSFER STUDENT SCHOLARSHIP STUDENTS WHO TRANSFER TO THE COLLEGE HAVING COMPLETED 24 OR MORE CREDITS AT AN ACCREDITED COLLEGE OR UNIVERSITY, AND WHO HAVE ACHIEVED A CUMULATIVE GRADE POINT AVERAGE OF AT LEAST 3.0 (INCLUDING ALL COURSES AT EVERY INSTITUTION ATTENDED) MAY BE AWARDED SCHOLARSHIPS TO TRANSFER. THE AWARDS MAY BE RENEWABLE FOR UP TO THREE YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GPA. ACACADEMIC EXCELLENCE SCHOLARSHIPS ACADEMIC EXCELLENCE SCHOLARSHIPS ARE AWARDED EACH YEAR TO CONTINUING STUDENTS ON THE BASIS OF OUTSTANDING ACADEMIC ACHIEVEMENT AND SELECTION FOR ACADEMIC HONORS. THE CRITERIA APPLIED IN DECIDING ELIGIBILITY FOR THESE AWARDS INCLUDE CUMULATIVE GRADE POINT AVERAGE (GPA) AND SATISFACTORY COMPLETION OF AT LEAST TWO SEMESTERS (29 CREDITS/UNITS OR MORE) AS A MATRICULATED STUDENT. X X X X X 0 0 0 0 0 0 0 0 0 JOHN C FITZPATRICK 281503 0 0 0 0 0 16500 0 32235 0 330238 0 185033 0 ROBERT G WALDMANN 172010 0 0 0 0 0 0 0 23962 0 195972 0 113813 0 SHARON DEVIVO 179275 0 0 0 0 0 0 0 24936 0 204211 0 114863 0 JAIN KALPANA 133930 0 0 0 0 0 0 0 27248 0 161178 0 88840 0 ERNIE SHEPELSKY 138190 0 0 0 0 0 0 0 26417 0 164607 0 84491 0 NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY 132906040 649438BZ0 2006-12-21 40059248 CONSTRUCTION OF FACILITY AND REFUNDING OF PRIOR ISSUE (6/18/98) 0 0 21283500 2713532 723828 19188641 2008 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 1 X 163 FMV X 2 308098 FMV X 1 FMV X AIRLINE TIC. 2 4954 FMV X COMP. EQPMT. 1 549 FMV X HANGAR FEES 1 7224 FMV X GIANTS TIC. 1 1010 FMV 0 0 0 Method for Determining Number of Contributors: Part I, Column (b): THE ORGANIZATION IS REPORTING BOTH THE NUMBER OF CONTRIBUTORS AND NUMBER OF CONTRIBUTIONS. Form 990, Part VI, Section B, line 11 Return reviewed in detail with the Audit Committee and made available to the Board of Trustees for seven days for comment. Form 990, Part VI, Section B, line 12c In May 2007, a new Board of Trustees - Conflict of Interest Policy and Procedure was adopted. The policy and procedure includes an Annual Conflict of Interest Disclosure Statement which must be completed, signed and submitted by each Board member every year in May. The president's secretary confirms receipt of the statements and keeps them on file. In July 2009, an Officers and Management Staff Conflict of Interest Policy and Procedures was adopted. The policy and procedures also includes a Conflict of Interest Disclosure Form which is completed, signed and submitted on an annual basis. The Assistant Vice President for Human Resources and College Services confirms receipt, reviews the forms and keeps them on file. Form 990, Part VI, Section B, line 15 LINE 15A: The president's compensation is determined by the Board of Trustees Compensation Committee with staff assistance from the College's external legal counsel. Counsel uses the following compensation factors and sources to assist the Committee in its decision making process: Compensation Factors - a. Compensation levels paid by similar organizations b. Level of person's education and experience c. Specific responsibilities of position d. Previous salary or compensation package e. Similar services in the same geographic or metropolitan area f. Similar number of students g. Annual budget and/or gross revenue/assets h. Nature of curriculum (e.g., 2 year vs. 4 year undergraduate vs. graduate) Compensation Sources - a. published surveys of compensation at similar institutions b. Internet research on compensation at similar institutions c. Forms 990 filed by other colleges and universities d. Annual budget or gross revenue/assets LINE 15B: The president sets the compensation of the other officers and key employees. He uses similar compensation factors and sources and advises the Compensation Committee of his decisions Form 990, Part VI, Section C, line 19 The organization keeps a copy of its IRS Form 990 in its library for examination by the public. A summary of its key financial results is printed in its magazine - annual report edition. FORM 990, PART XI, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM PRIOR YEAR.