2025-05-14T09:40:37-05:00 2024-06-30 141555429 UHY ADVISORS NORTHEAST INC 4 TOWER PLACE EXECUTIVE PARK 7TH FLOOR ALBANY NY 12203 990 2023-07-01 141338371 THE COLLEGE OF SAINT ROSE COLL 5184542066 432 WESTERN AVENUE ALBANY NY 12203 DEBRA LEE POLLEY TREASURER 5184542066 2025-04-18 1 1 JAMES DANIELS P00603621 5184493166 2025-05-09 2023 2025-03-06 01:10:19Z MARCIA J WHITE 432 WESTERN AVENUE ALBANY NY 12203 102877028 0 X WWW.STROSE.EDU X 1920 NY TO PROVIDE HIGHER EDUCATIONAL OPPORTUNITIES. 25 25 763 65 23060 14231 7796252 6287157 71303340 62494070 2281849 -4784431 1023823 630516 82405264 64627312 33830820 32447691 0 0 34918028 32819950 0 0 1046898 28283545 24896499 97032393 90164140 -14627129 -25536828 140950015 105135190 64531860 55398054 76418155 49737136 X UNTIL OPERATIONS CEASED IN JUNE 2024 THE COLLEGE PROVIDED POST-SECONDARY EDUCATION FOCUSING ON A LIBERAL ARTS AND CAREER PREPARATION EDUCATION CURRICULUM DESIGNED TO PREPARE STUDENTS FOR THE LIFE-LONG PURSUIT OF KNOWLEDGE. 0 1 78283642 32447691 54455806 THE COLLEGE PROVIDED POST-SECONDARY EDUCATION TO BOTH UNDERGRADUATE AND GRADUATE STUDENTS. 78283642 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 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 47 0 1 763 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ CA CO CT DE FL GA ID IL IN IA KS KY LA MA ME MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX VA VT WA WV WI WY X DEBRA LEE POLLEY 5184542066 432 WESTERN AVE ALBANY NY 12203 MR JAMES J BARBA TRUSTEE 5.00 X 0 0 0 SR DANIELLE BONETTI CSJ TRUSTEE 2.00 X 0 0 0 MS RITA B CROTTY TRUSTEE 5.00 X 0 0 0 MS DENISE M DINOTO TRUSTEE 1.00 X 0 0 0 SR MARGARET M EDIC CSJ TRUSTEE 10.00 X 0 0 0 MR RYAN P HALLIDAY TRUSTEE 1.00 X 0 0 0 SR KATHERINE HANLEY CSJ TRUSTEE 2.00 X 0 0 0 MR GEORGE R HEARST III TRUSTEE 3.00 X 0 0 0 MS JULIE MASSRY KNOX TRUSTEE 1.00 X 0 0 0 SR JOAN LESCINSKI CSJ TRUSTEE 2.00 X 0 0 0 MR I NORMAN MASSRY TRUSTEE 2.00 X 0 0 0 MR MATTHEW H MATARASO TRUSTEE 5.00 X 0 0 0 DR LEE A MCELROY TRUSTEE 6.00 X 0 0 0 MR DANIEL P NOLAN TRUSTEE 2.00 X 0 0 0 MR KEVIN O'CONNOR TRUSTEE (TO MAY) 7.50 X 0 0 0 MR MICHAEL J O'HANLON TRUSTEE 4.50 X 0 0 0 DR KATHLEEN SULLIVAN RICKER TRUSTEE 1.50 X 0 0 0 SR PATRICIA A ST JOHN CSJ TRUSTEE 3.00 X 0 0 0 MR JAMES J SANDMAN TRUSTEE 2.00 X 0 0 0 SR J ELIZABETH VAN DEUSEN CSJ TRUSTEE 1.00 X 0 0 0 MR HAROLD L WILLIAMS TRUSTEE 1.00 X 0 0 0 MR JEFFREY D STONE CHAIR 10.00 X X 0 0 0 MS MICHELLE BORISENOK FIRST VICE CHAIR 1.00 X X 0 0 0 MS SHARON M DUKER SECOND VICE CHAIR 2.00 X X 0 0 0 SR DIANE ZIGO CSJ SECRETARY 1.00 X X 0 0 0 SR MARY ANNE HEENAN CSJ PAST CHAIR 3.00 X X 0 0 0 MS MARCIA J WHITE PRESIDENT 59.00 X 338360 0 10158 DR MARGARET MCLANE PROVOST/VP ACADEMIC AFFAIR 45.00 X 212302 0 20751 MS DEBRA LEE POLLEY VP FINANCE/ADMIN/TREASURER 65.00 X 184352 0 24132 MS ELIZABETH HALEY THOMSON SECRETARY/CHIEF OF STAFF 50.00 X 189743 0 13011 DR IAN MACDONALD DEAN MATH/SCIENCE 60.00 X 205162 0 29826 DR GERALD LORENTZ DEAN SCHOOL OF ARTS AND HUMANITIES 55.00 X 165834 0 5643 REGINA SCRIVEN AVP INFORMATION TECHNOLOGY 45.00 X 142952 0 8621 VERONICA FITZGERALD KAEDY VP INSTITUTIONAL ADVANCEMENT 45.00 X 172673 0 0 ROBERT W FLINT PROFESSOR 45.00 X 124715 0 20869 1736093 0 133011 31 0 1 0 SODEXO 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 FOOD SERVICE MANAGEMENT 2990412 FTI 1201 W PEACHTREE ST NW STE 3300 ATLANTA GA 30309 PROFESSIONAL SERVICES 1727106 CULLEN AND DYKMAN LLP 100 QUENTIN ROOSEVELT BLVD STE 402 GARDEN CITY NY 11530 PROFESSIONAL SERVICES 856480 USHERWOOD OFFICE TECH 1005 W FAYETTE ST SYRACUSE NY 13204 MAIL AND PRINTING SERVICES 369357 ELLUCIAN COMPANY LLC 62578 COLLECTION CENTER DR CHICAGO IL 60693 NETWORK SERVICES 306798 27 3533742 2753415 318679 6287157 TUITION AND FEES 611710 54455806 54455806 AUXILIARY SERVICES 900099 8038264 8038264 62494070 692979 23060 669919 29533146 3239160 28301799 9947917 1231347 -6708757 -5477410 -5477410 OTHER REVENUE 900099 630516 630516 630516 64627312 54455806 23060 3861289 32308211 32308211 139480 139480 936301 936301 24541972 21018011 3005825 518136 237269 191640 41770 3859 5223149 4296853 825240 101056 1881259 1532855 304028 44376 368217 368217 1457119 1457119 115784 115784 100000 100000 2934013 2934013 277404 8249 260921 8234 351031 259422 66225 25384 1739045 687794 972382 78869 210505 182581 27691 233 2251855 1872868 327645 51342 4139857 3443119 602349 94389 1226234 1019859 178417 27958 UNRELATED BUSINESS INCO 4396 4396 OTHER CONTRACTUAL SERVI 4574757 3426955 1123429 24373 UTILITIES 1836446 1593606 209942 32898 OTHER - EDUCATIONAL 1734907 1734907 1574929 1265002 274136 35791 90164140 78283642 10833600 1046898 11643733 8221445 929395 1238 2503502 634961 352777 238375 1442786 1162596 221103370 143639076 93033171 77464294 14279690 111976 15678326 17230705 1086635 69600 140950015 105135190 11751277 10417650 789588 0 50672309 44407851 732993 536783 585693 35770 64531860 55398054 X 54350074 33578401 22068081 16158735 76418155 49737136 140950015 105135190 -25536828 -1144191 0 X 0 1 X 1 1 1 X 11348568 18051876 20570062 7796252 6287157 64053915 11348568 18051876 20570062 7796252 6287157 64053915 3485050 60568865 538262 221956 279736 641064 669919 2350937 25254 56648 12242 15412 109556 965104 1125160 1148659 1030464 630516 4899903 71414311 405769928 0.84810 0.86190 X PARTS I AND II/PUBLIC CHARITY STATUS AND SUPPORT SCHEDULE: THE COLLEGE QUALIFIES AS A PUBLIC CHARITY AS A SCHOOL DESCRIBED IN INTERNAL REVENUE CODE SECTION 170(B)(1)(A)(II). SCHEDULE A, PART II (SUPPORT SCHEDULE) HAS BEEN COMPLETED TO DEMOSTRATE ELIGIBILITY TO REPORT CONTRIBUTIONS ON SCHEDULE B UNDER THE APPLICABLE SPECIAL RULE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 172982 X X 0 29104356 110555 973557 15185115 15003353 40115923 277950 646369 11935886 29104356 44047118 146916 -2829638 1248473 40115923 38815266 2026046 6899754 3693948 44047118 44960904 551230 -545221 6151647 38815266 0.01140 0.98860 0 0 1974545 1974545 192045601 117324989 74720612 24519549 23801236 718313 2563675 2512851 50824 77464294 ALTERNATIVE INVESTMENTS 4430704 F LIMITED PARTNERSHIP 815769 F CASH AND CASH EQUIVALENTS 11984232 F 17230705 U.S. GOVERNMENT ADVANCES 35770 35770 X 31035430 -1144191 -1144191 32179621 32447691 32447691 64627312 57716449 0 57716449 32447691 32447691 90164140 PART III, LINE 4: DESCRIPTION OF ART, ETC., COLLECTIONS AND CONTRIBUTION TO EXEMPT PURPOSE: COLLECTIONS OF ART AND HISTORICAL MATERIALS ARE USED TO ENRICH THE LIBERAL ARTS EDUCATION PROVIDED BY THE COLLEGE. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS: THE PRIMARY USES OF THE ENDOWMENT ARE SCHOLARSHIPS AND AWARDS (BASED ON DONOR AGREEMENT), AND TO ADDRESS OTHER NEEDS OF THE COLLEGE AS APPROVED BY THE BOARD OF TRUSTEES. PART X, LINE 2: FASB ASC 740 FINANCIAL STATEMENTS FOOTNOTE RELATED TO LIABILITY FOR UNCERTAIN TAX POSITIONS: THE COLLEGE BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE COLLEGE HAS NO FEDERAL OR STATE INFORMATIONAL RETURNS THAT ARE CURRENTLY UNDER EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR STATE AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL AID 32,447,691. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL AID 32,447,691. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 POLICY IS PUBLISHED IN STUDENT HANDBOOK AND OTHER COLLEGE PUBLICATIONS, AS WELL AS THE COLLEGE'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES GRANTS FROM THE FEDERAL GOVERNMENT TO HELP ACHIEVE AND FURTHER ITS EDUCATIONAL MISSION. THE COLLEGE ALSO RECEIVES FEDERAL AND NEW YORK STATE FUNDS THROUGH ITS STUDENTS IN THE FORM OF FEDERAL AND STATE STUDENT FINANCIAL AID AND ASSISTANCE. 0 EUROPE 0 0 INVESTMENTS 737292 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 2008213 EUROPE 0 0 STUDY ABROAD SUPPORT TO STUDENTS IN STUDY ABROAD PROGRAMS. 123769 AUSTRALIA 0 0 STUDY ABROAD SUPPORT TO STUDENT IN STUDY ABROAD PROGRAM. 15711 0 0 0 0 0 0 2884985 0 2884985 STUDY ABROAD PROGRAM EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 7 123769 APPLIED TO STUDENTS' ACCOUNTS STUDY ABROAD PROGRAM EAST ASIA AND THE PACIFIC 1 15711 APPLIED TO STUDENT'S ACCOUNT 0 0 0 0 1 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANT FUNDS: SCHOLARSHIPS AND SUPPORT FOR STUDY ABROAD PROGRAMS ARE AWARDED BASED ON NEED AND MONITORED ANNUALLY BASED ON STUDENTS' ACADEMIC PROFILES AND GUIDELINES AS PROVIDED TO STUDENTS. 1 SCHOLARSHIPS 1414 32308211 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANT FUNDS: SCHOLARSHIPS ARE AWARDED BASED ON NEED AND MONITORED ANNUALLY BASED ON STUDENTS' ACADEMIC PROFILES AND GUIDELINES AS PROVIDED TO STUDENTS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 MS MARCIA J WHITE PRESIDENT 338360 0 0 0 0 0 9900 0 258 0 348518 0 0 0 DR IAN MACDONALD DEAN MATH/SCIENCE 205162 0 0 0 0 0 4960 0 24866 0 234988 0 0 0 DR MARGARET MCLANE PROVOST/VP ACADEMIC AFFAIR 212302 0 0 0 0 0 6554 0 14197 0 233053 0 0 0 MS DEBRA LEE POLLEY VP FINANCE/ADMIN/TREASURER 184352 0 0 0 0 0 5774 0 18358 0 208484 0 0 0 MS ELIZABETH HALEY THOMSON SECRETARY/CHIEF OF STAFF 189743 0 0 0 0 0 5774 0 7237 0 202754 0 0 0 VERONICA FITZGERALD KAEDY VP INSTITUTIONAL ADVANCEMENT 172673 0 0 0 0 0 0 0 0 0 172673 0 0 0 DR GERALD LORENTZ DEAN SCHOOL OF ARTS AND HUMANITIES 165834 0 0 0 0 0 4985 0 658 0 171477 0 0 0 REGINA SCRIVEN AVP INFORMATION TECHNOLOGY 142952 0 0 0 0 0 2788 0 5833 0 151573 0 0 0 PART I, LINE 1A THE OFFICIAL RESIDENCE OF THE PRESIDENT IS OWNED AND MAINTAINED BY THE COLLEGE AND IS SITUATED IN CLOSE PROXIMITY TO THE COLLEGE'S URBAN CAMPUS. THE PRESIDENT RESIDES IN HER OFFICIAL RESIDENCE AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE. CERTAIN COLLEGE FUNCTIONS ARE HOSTED BY THE PRESIDENT IN THE OFFICIAL RESIDENCE UNDER STIPULATION IN HER EMPLOYMENT CONTRACT. THE COLLEGE PAYS A SOCIAL CLUB'S FEES FOR COLLEGE REPRESENTATION EVENTS AND ACTIVITIES. A CITY OF ALBANY CAPITAL RESOURCE CORPORATION 273467899 2021-11-12 48150000 REFINANCING TWO PRIOR ISSUES 0 0 0 A 51902325 2952800 48949525 2022 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 SCHEDULE K, PARTS I AND II PROCEEDS OF ISSUE IN PART II, LINE 3 INCLUDE PREMIUM OF $3,752,325. BOND ISSUANCE COSTS WERE BORNE BY THE COLLEGE AND NOT PAID FROM PROCEEDS OF THE ISSUE. X 3 24188 MARKET QUOTE X SODEXO CATERING FUNDS 1 294491 FAIR VALUE 0 0 0 FORM 990, PART III, LINE 3 ON NOVEMBER 30, 2023, THE BOARD DETERMINED, BASED ON THE COLLEGE'S FINANCIAL AND ENROLLMENT PROJECTIONS, AND IN ORDER TO AVOID AS MUCH DISRUPTION AS POSSIBLE, THAT IT WAS IN THE BEST INTERESTS OF THE STUDENTS AND THE COLLEGE TO CEASE ACADEMIC INSTRUCTION NO LATER THAN JUNE 30, 2024. THE BOARD DIRECTED THE IMPLEMENTATION OF A CLOSURE PLAN THAT PROVIDED FOR THE CESSATION OF ACADEMIC INSTRUCTION NO LATER THAN JUNE 30, 2024, AND, THEREAFTER, FOR THE WIND-DOWN OF OPERATIONS AND SETTLEMENT OF THE AFFAIRS OF THE COLLEGE (THE "CLOSURE PLAN"). THE CLOSURE PLAN AUTHORIZED THE COLLEGE'S LEADERSHIP TO DEVELOP A TEACH-OUT PLAN THAT WOULD PROVIDE ALL STUDENTS WITH PATHWAYS TO COMPLETE THEIR DEGREES AT THE COLLEGE AND/OR OTHER INSTITUTIONS WITH MINIMAL DISRUPTION. ON OCTOBER 10, 2024, THE BOARD ADOPTED A RESOLUTION AUTHORIZING THE COLLEGE TO FILE A VOLUNTARY PETITION SEEKING RELIEF UNDER CHAPTER 11 OF THE BANKRUPTCY CODE AND SUCH PETITION ("BANKRUPTCY PETITION") WAS FILED WITH THE BANKRUPTCY COURT OF NORTHERN NEW YORK ("BANKRUPTCY COURT") ON SUCH DATE. THE COLLEGE SUBMITTED A LIQUIDATION PLAN TO THE COURT ON APRIL 11, 2025 AND WILL IMPLEMENT ONCE APPROVED BY THE COURT. FORM 990, PART VI, SECTION A, LINE 2 RELATED BOARD MEMBERS: TRUSTEES JULIE MASSRY KNOX AND I. NORMAN MASSRY HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCEDURES: THE FORM 990 IS MADE AVAILABLE FOR THE REVIEW OF THE GOVERNING BODY BEFORE FILING AND THEIR OBSERVATIONS ARE INCORPORATED AS APPROPRIATE IN THE PRESENTATION OF THE INFORMATION. REPRESENTATIVES OF THE GOVERNING BODY MEET WITH THE COLLEGE'S EXTERNAL AUDITORS WHERE THEY HAVE THE OPPORTUNITY TO ASK QUESTIONS IN REGARDS TO THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY PROCEDURES: ANNUAL CERTIFICATION OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS REQUIRED OF ALL MEMBERS OF THE GOVERNING BODY AND OFFICERS IN FEBRUARY EACH YEAR, AND OF NEWLY-APPOINTED INDIVIDUALS AT THE TIME OF APPOINTMENT. APPLICABLE CONFLICTS OF INTEREST ARE REPORTED TO THE AUDIT COMMITTEE AND INDIVIDUALS RECUSE THEMSELVES FROM THE DELIBERATIVE AND DECISION-MAKING PROCESSES WITH RESPECT TO MATTERS WHERE CONFLICT MAY EXIST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCEDURES: PERFORMANCE AND COMPARABILITY DATA RELATED TO OFFICERS' COMPENSATION IS REVIEWED BY THE PRESIDENT. THE BOARD OF TRUSTEES COMPENSATION AND EVALUATION COMMITTEE REVIEWS THE ELEMENTS OF COMPENSATION AND BENEFITS PROVIDED TO THE PRESIDENT. THE COMMITTEE ALSO FACILITATES THE ANNUAL ASSESSMENT OF THE PRESIDENT'S PERFORMANCE AS CHIEF EXECUTIVE OF THE COLLEGE WITH INPUT FROM THE FULL BOARD. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY TO THE PUBLIC OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS: THESE ARE PROVIDED UPON REQUEST.