2024-05-14T10:42:19+00:00 2023-06-30 350921680 CROWE LLP 231 S Bemiston Ave Suite 800 Clayton MO 63105 990 2022-07-01 141468399 Mount Saint Mary College MOUN 8455610800 330 Powell Avenue Newburgh NY 125503412 Arthur Glass II VP Finance & Administration 2024-05-14 true Arthur Glass II 999009999 Steve Lenivy P01635350 3148022000 2022 2023-04-26 12:10:37Z Jason N Adsit 330 Powell Avenue Newburgh NY 125503412 114559473 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. 20 20 863 20 0 0 3359206 2684917 64831316 62801579 1347447 -1136656 1427 16476381 69539396 80826221 22281527 22363360 0 27461391 29239974 0 940687 25806016 29200146 75548934 80803480 -6009538 22741 192615143 181995919 53983274 50750852 138631869 131245067 X As reflected in its motto "Doce 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 53724156 22363360 52189732 MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2,282 FULL AND PART TIME STUDENTS, REPRESENTING OVER 18 STATES AND 27 COUNTRIES. 14235378 8343912 ROOM AND BOARD: THE COLLEGE SEEKS TO OFFER OUR STUDENTS INCLUSIVE COMMUNITIES, SOCIAL, AND EDUCATIONAL OPPORTUNITIES, AND SAFE AND WELL-MAINTAINED RESIDENCE FACILITIES. ALL OF OUR RESIDENCE HALLS ARE NEWLY BUILT OR RECENTLY RENOVATED. APPROXIMATELY 516 STUDENTS CALL OUR RESIDENCE HALLS HOME. 2493175 1669192 BISHOP DUNN MEMORIAL SCHOOL - ELEMENTARY SCHOOL OPERATIONS, AN ADJUNCT FACILITY ON THE MOUNT SAINT MARY COLLEGE CAMPUS, WHERE THE MOUNT'S EDUCATION STUDENTS ASSIST AND OBSERVE IN TEACHING, AND MAY COMPLETE FIELD WORK. THIS ON-CAMPUS SCHOOL IS A COMBINED ELEMENTARY SCHOOL AND MIDDLE SCHOOL FOR PRE-K THROUGH GRADE 8 PUPILS. IT OFFERS A VARIETY OF PROGRAMS, INCLUDING ENRICHMENT FOR HONORS PUPILS, SPECIAL EDUCATION, VIRTUAL FIELD TRIPS AND OTHER CREATIVE USES OF TECHNOLOGY. INDIVIDUALLY GIFTED PROGRAMS, ON BOTH PRIMARY AND MIDDLE LEVELS, ARE CONDUCTED HERE, AS WELL AS CLASSES FOR CHILDREN WITH LEARNING DISABILITIES. 605385 OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. 605385 70452709 true true false false false false false false true true true false false true true true false true false true false false false true false false false true true true false false false false false false true false false false false false false false false false false false false true 2517 0 true 863 true false false false false false true true false false false false false false X 20 20 false false false false false false false true true false false true true true true true true true true false X Arthur Glass II 8455693210 330 Powell Avenue Newburgh NY 125503412 Michael Horodyski Chair 15.0 X X 0 0 0 Philip DeAngelo Vice Chair 10.0 X X 0 0 0 Anne Marie Murray PhD Board Member 6.0 X 0 0 0 Anthony Liotti Board Member 1.0 X 0 0 0 Beth Jennings Board Member (as of Sept 2022) 1.0 X 0 0 0 Christina Bart Bilsky Board Member (as of June 2023) 3.5 X 0 0 0 Christofer Guarino Board Member 1.0 X 0 0 0 Jake Kosack Board Member 2.0 X 0 0 0 Jeremy Smith Board Member 3.0 X 0 0 0 Kekuut J Hoomkwap Board Member 1.0 X 0 0 0 Liam O'Brien Esq Board Member 5.0 X 0 0 0 Michael Catania Esq Board Member 5.0 X 0 0 0 Sister Constance Kelly OP '95 Board Member 1.5 X 0 0 0 Sister Constance Koch OP '71 Board Member 3.0 X 0 0 0 Sister Maureen Sullivan Board Member 2.0 X 0 0 0 Sister Patricia Magee OP 88 Board Member 1.0 X 0 0 0 Sr Catherine McDonnell OP Board Member 2.0 X 0 0 0 Stephen McCarthy Board Member 1.0 X 0 0 0 Valerie Bryant Board Member (as of Sept 2022) 1.0 X 0 0 0 William Fioravanti Board Member (as of Sept 2022) 5.0 X 0 0 0 Arthur D Glass MBA CPA Vice President for Finance & Administration 35.0 X 247425 0 6114 Dr Jason N Adsit PhD President 35.0 X 319228 0 74890 George Abaunza PhD Vice President for Academic Affairs 35.0 X 182305 0 28839 Christine Berte Dean of the School of Nursing 35.0 X 153943 0 1942 Elaine A O'Grady MBA Vice President for Students 35.0 X 199483 0 5166 Moira T Tolan Faculty 35.0 X 132812 0 3947 Nidhi Khurana-Baugh Vice President Advancement 35.0 X 157441 0 36451 Tiffany Gagliano Dean of the School of Business 35.0 X 164737 0 2207 1557374 0 159556 29 false true false MID HUDSON CONSTRUCTION MANAGEMENT INC 85 CIVIC CENTER PLAZA SUITE 104 POUGHKEEPSIE NY 12601 CONSTRUCTION 4560055 PARKHURST DINING SERVICES PO BOX 644091 PISSBURGH NY 152644091 FOOD SERVICES 3837694 JENZABAR INC PO BOX 55018 BOSTON MA 022055018 TECHNOLOGY SERVICES 925425 JENSPARK INC PO BOX 845764 BOSTON MA 022845764 MARKETING/ADMISSIONS 645605 HAYDEN BUILDING MAINTENANCE CORPORATION 169 WESTERN HIGHWAY WEST NYACK NY 10994 CONSTRUCTION 503832 29 182740 951690 1550487 8195 2684917 Tuition and Fee Income 611310 52189732 52189732 Dormitories, Food, Service, Campus Store 611310 8343912 8343912 Elementary School - Pre K to Grade 8 611310 1669192 1669192 Food Services Revenue 611310 355302 355302 Other Program Service Revenue 611310 243441 243441 0 0 0 0 62801579 1070439 1070439 10700 25183 -14483 0 -14483 -14483 31205263 218254 33412358 218254 -2207095 0 -2207095 -2207095 61679 182740 77457 -15778 -15778 SUMMER AND SPORTS CAMPS 611310 6642 6642 INVESTMENT SPENDING DESIGNATED FOR CURRENT OPERATIONS 611130 16500000 16500000 0 0 0 0 16506642 80826221 62808221 0 15333083 22363360 22363360 765326 765326 22530289 18984406 3090754 455129 725536 592267 119200 14069 3296420 2690923 541575 63922 1922403 1569290 315835 37278 50111 50111 142081 142081 193233 193233 5917204 5092763 652941 171500 735590 444864 236231 54495 1013701 713457 287571 12673 1276134 476049 800085 0 2187894 2042834 145060 463547 297761 109923 55863 105572 78786 22701 4085 1821089 1760770 60319 7871850 7518707 353143 586888 351942 234946 Elementary School 2493175 2493175 Maintenance & Repairs 792839 723261 69578 Equipment Rental Expense 550239 191643 358596 Bad Debt Expense 514192 514192 2484807 2066451 346683 71673 80803480 70452709 9410084 940687 12624990 21886928 4873694 3742080 3102043 3967949 0 0 0 0 0 0 0 0 755906 2693513 208498771 107423348 101731204 101075423 37152617 17311496 30219608 27753220 256429 303973 0 0 1898652 3261337 192615143 181995919 2995813 2950663 0 0 387150 432584 48132299 46561839 0 0 0 0 0 0 0 0 2468012 805766 53983274 50750852 X 121510293 114365175 17121576 16879892 0 0 0 0 0 0 138631869 131245067 192615143 181995919 X 22741 9090457 -16500000 X false true X true true true X 2609756 3936263 11231987 3359206 2684917 23822129 0 0 2609756 3936263 11231987 3359206 2684917 23822129 0 23822129 1572691 1323322 857658 1517801 1081139 6352611 0 898229 24680 44127 47829 61679 1076544 31251284 363728525 0.7623 0.7751 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INCOME FROM FUNDRAISING, COLUMN A - 67669.0, COLUMN B - 24680.0, COLUMN C - 44127.0, COLUMN D - 47829.0, COLUMN E - 61679.0, COLUMN F - 245984.0; DESCRIPTION - GROSS INCOME FROM GAMING, COLUMN A - 1660.0, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 1660.0; DESCRIPTION - CLASS ACTION SETTLEMENT, COLUMN A - 828900.0, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 828900.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9278607 1411900 -222122 737738 0 0 9730647 8284817 1220614 143126 369950 0 0 9278607 6562111 1266707 681285 225286 0 0 8284817 5997757 437965 418311 291922 6562111 5700646 441942 149274 294105 0 0 5997757 0.0 0.718 0.282 false false 749591 749591 184867205 90355617 94511588 14629689 10976228 3653461 8252286 6091503 2160783 101075423 Limited Partnerships 4503019 F Hedge Funds 19918678 F Funds of Funds 3331523 F 27753220 Derivative Liability 0 Government Grants Refundable 119366 Conditional asset retirement obligation Capital Lease Obligation Service Contract Liabilty 686400 805766 X 67655958 9090457 0 9090457 58565501 22260720 22260720 80826221 58542760 102640 102640 58440120 22363360 22363360 80803480 Schedule D, Part V, Line 4 Intended uses of endowment funds The portion of the permanent endowment funds that is required to be retained by explicit donor restriction is as follows for FISCAL YEAR 2023: - restricted for scholarship support $4,705,913 - restricted for institutional support $2,281,431 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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, 2023 and 2022. The College would recognize interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The College has not incurred any interest or penalties for the years ended June 30, 2023 and 2022. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements INSTITUTIONAL AID - 22363360 RENTAL EXPENSE - -25183 FUNDRAISING EXPENSE - -77457 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSE - 25183 FUNDRAISING EXPENSE - 77457 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements INSTITUTIONAL AID - 22363360 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The college publishes an annual notice of its non discriminatory policy in a local newspaper during the academic year and online in several locations on the College's publicly accessible internet page (links can be found below to these locations). The notice complies with IRS Guidelines. 1. TITLE IX AND DIVERSITY WEBPAGE: HTTPS://WWW.MSMC.EDU/TITLE-IX/ 2. SEXUAL MISCONDUCT AND GRIEVANCE POLICY: https://msmc.s3.amazonaws.com/files/resources/sexual-misconduct-title-ix-grievance-policy-ay-23-2.pdf 3. STUDENT HANDBOOK: https://msmc.s3.amazonaws.com/files/resources/msmc-studenthandbook-spring20-final-final.pdf Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The college receives federal Pell, Workstudy, SEOG, NYS TAP, ETA and other state scholarship funds. Central America and the Caribbean 0 0 Investments 4503019 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD PROGRAM 59356 East Asia and the Pacific 0 0 Program Services STUDY ABROAD PROGRAM 4190 0 0 0 0 0 0 4566565 0 4566565 true false true true false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual GOLF 136169 87240 48929 719 31621 10856 GALA 108250 95500 12750 34261 0 244419 182740 61679 719 31621 45117 77457 -15778 true SCHOLARSHIPS 1242 22363360 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The organization has controls 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 false false false false false false false false false Dr Jason N Adsit PhD President 318400 0 0 0 828 0 5317 0 69573 0 394118 0 0 0 Arthur D Glass MBA CPA Vice President for Finance & Administration 242853 0 0 0 4572 0 5027 0 1087 0 253539 0 0 0 George Abaunza PhD Vice President for Academic Affairs 180783 0 0 0 1522 0 4148 0 24691 0 211144 0 0 0 Elaine A O'Grady MBA Vice President for Students 197987 0 0 0 1496 0 3619 0 1547 0 204649 0 0 0 Nidhi Khurana-Baugh Vice President Advancement 156952 0 0 0 489 0 3508 0 32943 0 193892 0 0 0 Tiffany Gagliano Dean of the School of Business 164267 0 0 0 470 0 710 0 1497 0 166944 0 0 0 Christine Berte Dean of the School of Nursing 151009 0 0 0 2934 0 1572 0 370 0 155885 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use College provides housing for the President as part of his employment contract. Pursuant to IRC Sec. 119, Housing provided to the President is nontaxable. Schedule J, Part I, Line 1a Health or social club dues or initiation fees The College provides the President with a club membership as part of his employment contract. The club membership is used solely for business purposes and as such is nontaxable. A Orange County Funding Corporation 273179651 000000000 2012-12-21 25465000 refunding of 2005 bond issue false false false B Orange County Funding Corporation 273179651 684594AT1 2012-12-21 40087992 renovation of Dominican Center and refund 2003 bond issue false false false C Public Finance Authority 273866124 000000000 2017-10-17 3926000 Equipment- Energy Efficient Improvement false false false D Orange County Funding Corporation 273179651 684594BV5 2022-09-29 17428408 refunding of Series 2012C and funding termination of Series 2012C swap false false false A 25465000 0 25465000 0 0 0 321542 0 0 1540528 23602930 0 2013 true false true true B 11290000 0 40087992 0 0 0 576058 0 0 22306669 17205265 0 2013 false true true true C 2159300 0 3926000 0 0 0 78520 0 0 3847480 0 0 2018 false false true true D 0 0 17428408 0 0 0 346097 0 0 0 17082311 0 2023 true false true true A false false false false 0.0 0.0 0.0 false false false B false false true true false 0.02 0.0 0.02 false false false C false false false false 0.0 0.0 0.0 false false false D false false false false 0.0 0.0 0.0 true false false A false false true false true true Deutsche Bank 30.0 false false false false false B false false true false false false false false false C false false false true false false false false false D false false true false false false false false false A false B false C false D false Schedule K, Part I Orange County Funding Corporation: CUSIP- 684594AT1 Proceeds of $17,205,265 was used to advance refund series 2003 Bond, and non-refunding proceeds of $22,306,668 used for the renovation of the Dominican Center, and pay off the original loan for the purchase of the Dominican Center. Schedule K, Part I Orange County Funding Corporation Advance refund 2005 Bond that was reoffered in 2008 by the Dormitory Authority of the State of New York Schedule K, Part VI POST-ISSUANCE COMPLIANCE POLICIES S Applicable for Schedule K, Part III, line 9; Part IV, line 7; Part V: The college does not have a written Post-Issuance Tax-Exempt Bond Compliance Policy. The Vice President for Finance and Administration has primary responsibility for monitoring and ensuring post issuance compliance with tax-exempt bond regulations. This includes, but is not limited to analyzing and reviewing activities that involve private business use, keeping current with tax-exempt bond developments and consulting with college bond counsel and other experts on an as needed basis to ensure continued compliance with federal regulations. Schedule K, Part IV, Line 2c COLUMN C Issuer name: Public Finance Authority The calculation for computing no rebate due was performed on 12/16/2022 8652 Tuition Waiver Academic Form 990, Part III, Line 4d Description of other program services (Expenses $ including grants of $)(Revenue $ 605,385) OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. Form 990, Part VI, Line 1a Delegate broad authority to a committee Article VIII: Committees of the Board of Trustees: VIII-2-The Executive Committee shall be comprised of all standing committee Chairs. At his discretion the Chair may appoint an additional member of the board to the Executive Committee. Such Executive Committee shall have and exercise, in the intervals between meetings of the full Board, all powers and authority vested in the full Board under Article 5, Section 226 of the Education Law, except those powers specifically withheld by said Section 226, sub-section 2. Form 990, Part VI, Line 11b Review of form 990 by governing body The completed Form 990 is distributed to the Board of Trustees in advance of filing for their review. Form 990, Part VI, Line 12c Conflict of interest policy The Vice President for Finance and Administration shares completed conflict of interest questionnaires with all Trustees in December's Board Meeting. Conflicts are reviewed and resolved by the members of the Executive Committee. Trustees, officers, and all with purchasing power who have declared or been found to have a conflict or potential conflict of interest shall refrain from voting on proposed transactions. Such persons may participate in deliberations concerning any proposed transaction only with the consent of no less than two-thirds of those present at any meeting where such matters are being discussed. Form 990, Part VI, Line 15a Process to establish compensation of top management official The President's compensation is set by the Board of Trustees and based on a review of published data that compares salaries of officer at similar sized institutions. Their salary is reviewed and adjusted in connection with an annual budget approval process. College policy 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 as part of the annual budget approval process. Form 990, Part VI, Line 15b Process to establish compensation of other employees 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. College policy 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 as part of the annual budget approval process. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflict of interest policy, and its financial statements available to the public upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances INVESTMENT SPENDING DESIGNATED FOR CURRENT OPERATIONS - -16500000;