2022-05-13T13:49:48-05:00 2021-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2020-07-01 131967322 DOMINICAN COLLEGE OF BLAUVELT NY DOMI 8458487814 470 WESTERN HIGHWAY ORANGEBURG NY 10962 ANTHONY CIPOLLA VP FINANCIAL AFFAIRS 8458487814 2022-05-08 1 ANTHONY CIPOLLA XXX-XX-XXXX SCOTT THOMPSETT P00741490 2125990100 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SR MARY EILEEN O'BRIEN 470 WESTERN HIGHWAY ORANGEBURG NY 10962 61052626 0 0928 X WWW.DC.EDU X 1952 NY PROMOTE EDUCATIONAL EXCELLENCE, LEADERSHIP, & SERVICE VIA A STRONG COMMITMENT TO OUR STUDENTS. 34 32 723 240 4388 0 5111043 7372012 55245174 53159672 244684 243512 397108 208613 60998009 60983809 17909910 18449322 0 0 23119218 21466361 57550 133650 900016 17149280 17748489 58235958 57797822 2762051 3185987 67958899 75157140 38794975 41045174 29163924 34111966 X SEE SCHEDULE O. 0 0 50282031 18449322 53186060 SEE SCHEDULE O. DOMINICAN COLLEGE WAS FOUNDED IN 1952 BY THE SISTERS OF ST. DOMINIC OF BLAUVELT AND CONTINUES TO SERVE APPROXIMATELY 2,000 STUDENTS AS A PRIVATE, COEDUCATIONAL INSTITUTION, PROUD OF ITS DOMINICAN AND CATHOLIC TRADITION. THE COLLEGE IS COMMITTED TO MAINTAINING ITS VALUE-CENTERED, STUDENT-ORIENTED FOCUS. WITH A STUDENT/FACULTY RATIO OF 12 TO 1, EACH PERSON RECEIVES THE ASSISTANCE AND CHALLENGE SHE OR HE NEEDS TO REALIZE PERSONAL ASPIRATIONS AND TO BECOME A CONTRIBUTING CITIZEN. THE COLLEGE IS A LIBERAL ARTS INSTITUTION WHICH PROVIDES PROFESSIONAL PROGRAMS IN TEACHER EDUCATION, ATHLETIC TRAINING, SOCIAL WORK, BUSINESS ADMINISTRATION AND THE HEALTH CARE PROFESSIONS OF NURSING AND OCCUPATIONAL AND PHYSICAL THERAPY. OVER THIRTY PROGRAMS, MANY OF WHICH ARE NATIONALLY ACCREDITED, ARE OFFERED ON THE UNDERGRADUATE AND MASTER'S LEVEL. THE 16,000 MEMBERS OF OUR ALUMNI MAKE A SIGNIFICANT DIFFERENCE IN THE HOSPITALS, SCHOOLS AND BUSINESSES WHERE THEY SERVE. DOMINICAN COLLEGE IS AN ACADEMIC COMMUNITY COMMITTED TO FOSTERING THE VALUES OF EXCELLENCE, LEADERSHIP AND SERVICE IN ITS CURRICULAR AND EXTRA-CURRICULAR PROGRAMS. A MEMBER OF NCAA, DIVISION II, THE ATHLETIC DEPARTMENT SPONSORS SEVENTEEN COMPETITIVE SPORTS DURING THE FALL AND SPRING SEMESTERS. THE STUDENT BODY IS RICHLY DIVERSE AND IS COMPOSED OF TRADITIONAL AND NON-TRADITIONAL AGED STUDENTS WHO COMMUTE OR RESIDE ON CAMPUS. SPECIAL PROGRAMS EXIST FOR ADULT LEARNERS WHO WORK FULL TIME WHILE ATTENDING ACCELERATED PROGRAMS IN THE EVENING OR ON WEEKENDS. 50282031 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 56 0 1 723 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 34 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANTHONY CIPOLLA 8458487814 470 WESTERN HIGHWAY ORANGEBURG NY 10962 SR MARY EILEEN O'BRIEN OP PRESIDENT 35.00 0.00 X X 251177 0 20188 SR KATHLEEN SULLIVAN OP CHANCELLOR 35.00 0.00 X 119927 0 20188 STEVEN T SABATINI CHAIRPERSON 10.00 0.00 X X 0 0 0 JOHN BARTOLOTTA TRUSTEE 3.00 0.00 X 0 0 0 MICHAEL K BREEN ESQ TRUSTEE 2.00 0.00 X 0 0 0 SR MARY ANN COLLINS OP TRUSTEE 2.00 0.00 X 0 0 0 SR MICHAELA CONNOLLY TRUSTEE 2.00 0.00 X 0 0 0 P JOSEPH CORLESS TRUSTEE 2.00 0.00 X 0 0 0 JAMES D'AMBROSIO TRUSTEE (THRU 03/2021) 2.00 0.00 X 0 0 0 JOHN T DILLON JR TRUSTEE 7.00 0.00 X 0 0 0 DR JOAN H FACELLE MD VICE CHAIRPERSON 2.00 0.00 X X 0 0 0 SR MARY FLOOD OP MD PH TRUSTEE 2.00 0.00 X 0 0 0 DR JOHN FLYNN TRUSTEE 5.00 0.00 X 0 0 0 DR BERNADETTE KAPPEN TRUSTEE 2.00 0.00 X 0 0 0 MARY LEAHY TRUSTEE 2.00 0.00 X 0 0 0 LILIANA LOPEZ TRUSTEE 2.00 0.00 X 0 0 0 CHRISTOPHER MAHONEY TRUSTEE 5.00 0.00 X 0 0 0 KENNETH R MARKS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL MCLAUGHLIN TRUSTEE 2.00 0.00 X 0 0 0 THOMAS MCNAMARA TRUSTEE 2.00 0.00 X 0 0 0 PAT MIELE TRUSTEE 3.00 0.00 X 0 0 0 JAMES O'BRIEN TRUSTEE 5.00 0.00 X 0 0 0 RON OLORI JR TRUSTEE (AS OF 07/2020) 2.00 0.00 X 0 0 0 DR CLEMENT Y OSEI MD TRUSTEE 2.00 0.00 X 0 0 0 ROSS PEPE TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL PERRY TRUSTEE 2.00 0.00 X 0 0 0 BRIAN QUINN TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL SANTOS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL SHILALE TRUSTEE 2.00 0.00 X 0 0 0 DR ERINMARIE SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 JAMES T TOOLEN TRUSTEE 3.00 0.00 X 0 0 0 SR NOREEN WALSH TRUSTEE 2.00 0.00 X 0 0 0 SR BARBARA WERNER TRUSTEE 2.00 0.00 X 0 0 0 DOROTHY C FILORAMO TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM GOVE TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY J CIPOLLA VP FINANCIAL AFFAIRS 35.00 0.00 X 149949 0 23575 THOMAS NOWAK VP OF ACADEMIC AFFAIRS 35.00 0.00 X 148262 0 23260 MICHAEL KELLY DIRECTOR OF GRADUATE STUDIES 35.00 0.00 X 149153 0 22033 JOSEPH VALENTI VP INSTITUTIONAL ADVANCEMENT 35.00 0.00 X 147353 0 19725 BRIAN FERNANDES VP OF ENROLLMENT 35.00 0.00 X 138730 0 23254 RUSSELL DIAZ EXECUTIVE DIRECTOR OF IT 35.00 0.00 X 134503 0 22661 JOHN BURKE VP FOR STUDENT AFFAIRS 35.00 0.00 X 126138 0 22694 1365192 0 197578 18 0 1 0 CHARTWELLS DINING SERVICES 16100 W 127TH STREET LEMONT IL 60439 DINING SERVICES 2737729 ARAMARK SERVICES INC 51 S PEARL ST STE 17 ALBANY NY 12207 FACILITIES MANAGEMENT 2411396 ALLIED UNIVERSAL SECURITY SERVICES 50 JACKSON AVE 2ND FL SYOSSET NY 11791 CONTRACT SECURITY 357935 SUNRISE LANDSCAPING SERVICES INC 59 CONCORD DRIVE TAPPAN NY 10983 LANDSCAPING SERVICES 235459 PASKILL STAPLETON & LORD INC 1 ROBERTS AVE GLENSIDE PA 19038 MARKETING SERVICES 233501 21 200105 6369250 802657 1880 7372012 TUITION AND FEES 900099 47372165 47372165 ROOM & BOARD(AUX ENT.) 611710 5787507 5784730 0 2777 53159672 243512 243512 25027 25027 85300 0 85300 85300 85300 20700 200105 66317 -45617 -45617 4750 2500 2250 2250 REFUNDS/REIMBURSEMENTS 900099 33871 0 0 33871 APPLICATION FEES 900099 28740 28740 0 0 PARKING & MISC. FEES 900099 2414 0 0 2414 76628 425 4388 71815 141653 60983809 53186060 4388 421349 18449322 18449322 658384 137520 520864 16796245 14189917 2066506 539822 2810165 2357168 364166 88831 1201567 1006071 158071 37425 41168 41168 162004 162004 117600 117600 133650 133650 54843 54843 1242686 1242686 1329657 1138666 165826 25165 252457 213282 31061 8114 466259 393908 57366 14985 4044019 3830389 213630 50270 42469 6185 1616 9442 7553 850 1039 1001494 781165 220329 2315232 2236514 41674 37044 616262 366676 237261 12325 STUDENT FOOD SERVICES 2225715 2225715 0 0 COVID RELIEF/PPE EXP. 1301114 1301114 BAD DEBT EXPENSE 546861 0 546861 0 SECURITY SERVICES 544550 490095 54455 0 1426856 1114487 312369 57797822 50282031 6615775 900016 1570 1570 3432607 5086323 127498 104066 2258638 2328171 0 0 120492 94301 0 200175 215121 89662685 38355845 53387850 51306840 7451242 9782565 0 0 978827 6238183 67958899 75157140 1939131 1748360 0 3065873 4683220 28025670 26817036 0 0 2262161 2457884 0 3502140 5338674 38794975 41045174 X 25662702 29833422 3501222 4278544 29163924 34111966 67958899 75157140 3185987 1762055 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 117600 117600 0 PART II-B, LINE 1: THE COLLEGE DOES NOT UNDERTAKE ANY DIRECT LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER IN SEVERAL HIGHER EDUCATION ASSOCIATIONS TO WHICH IT PAYS DUES. WHILE THE COLLEGE ACKNOWLEDGES THAT A PORTION OF ITS ANNUAL MEMBERSHIP DUES MAY BE RELATED TO NON-DEDUCTIBLE LOBBYING ACTIVITIES, NO ACCURATE QUANTIFICATION OF THAT AMOUNT HAS BEEN RECEIVED FROM THE RESPECTIVE INSTITUTIONS. THE COLLEGE DOES ENGAGE THE SERVICES OF A CONSULTING FIRM, EMPIRE STRATEGIES LTD, THAT UNDERTAKES CERTAIN ADVOCACY ENDEAVORS ON THE COLLEGE'S BEHALF. EMPIRE STRATEGIES LTD WAS PAID $117,600 (SEE PART IX, LINE 11(D)) TO PROVIDE LEGISLATIVE AND REGULATORY REPRESENTATION ON VARIOUS HIGHER EDUCATION ISSUES. 2280490 X 1 7224291 822452 1857779 9904522 6578259 472302 173730 7224291 5549764 688772 339723 6578259 4532819 763182 253763 5549764 4514705 138251 246161 366298 4532819 0.63430 0.23000 0.13570 0 0 4674432 4674432 68385819 25135000 43250819 13255359 12557852 697507 3347075 662993 2684082 51306840 RIGHT-OF-USE ASSETS 5237425 DEPOSITS 856988 OTHER RECEIVABLES 143770 6238183 OPERATING LEASE LIABILITIES 4778003 FINANCING AND CAPITAL LEASE LIABILITIES 283500 REFUNDABLE GRANTS 277171 5338674 X 45207470 1762055 68817 1830872 43376598 17607211 17607211 60983809 40259428 68817 68817 40190611 17607211 17607211 57797822 PART III, LINE 4: COLLECTIONS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS THE COLLEGE OCCASIONALLY RECEIVES DONATIONS OF ARTWORK THAT IT INTENDS TO USE IN FULFILLMENT OF ITS TAX-EXEMPT MISSION, EITHER BY DISPLAYING THE ARTWORK ON CAMPUS FOR THE ENJOYMENT OF ITS STUDENTS, FACULTY AND VISITORS, OR FOR INTEGRATION INTO THE COLLEGE'S ART CURRICULUM. PART V, LINE 4: ENDOWMENT FUNDS THE COLLEGE'S SCHOLARSHIP ENDOWMENT IS INTENDED TO SUPPORT THE COLLEGE'S EDUCATIONAL MISSION, TO SUPPORT ITS STUDENT ACTIVITIES AND PROGRAMS AND TO PRESERVE AND FOSTER THE COLLEGE'S TRADITIONS. THE FUND'S PRINCIPAL IS INTENDED TO REMAIN UNTOUCHED, WHILE THE EARNINGS ARE DEDICATED TO THE CONTINUANCE AND ENHANCEMENT OF THE EDUCATION OF THE COLLEGE'S STUDENTS. THE QUASI-ENDOWMENT IS A BOARD DESIGNATED FUND TO HELP PROVIDE FOR THE FUTURE NEEDS OF THE COLLEGE. PART IX, RIGHT-OF-USE ASSETS, LINE 1: THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR DOMINICAN COLLEGE IN THE YEAR ENDING JUNE 30, 2021. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). THE INCREASE IN ASSETS AND LIABILITIES REPORTED ON THE COLLEGE'S BALANCE SHEET IS A FUNCTION OF THE COLLEGE COMPLYING WITH THE NEW ACCOUNTING PRONOUNCEMENT. THE COLLEGE HAS BOOKED A RIGHT-OF-USE ASSET (AND CORRESPONDING LIABILITY) ON ITS BALANCE SHEET IN EXCESS OF $100M. PART X, LINE 2: INCOME TAXES THE COLLEGE FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE COLLEGE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT WAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE COLLEGE HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF EVENT EXPENSES TO OFFSET REVENUE 68,817. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS TO OFFSET REVENUE, 17,607,211. EXCLUDING HEERF GRANTS PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF EVENT EXPENSES TO OFFSET REVENUE 68,817. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS TO OFFSET REVENUE, 17,607,211. EXCLUDING HEERF GRANTS 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE PUBLISHES ITS NONDISCRIMINATION POLICY IN SUFFICIENT MEDIA THAT WOULD ALLOW ANY MEMBER OF THE PUBLIC TO OBTAIN IT WITHOUT THE NEED FOR A SPECIFIC REQUEST. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES STATE GRANTS FROM THE NEW YORK DEPARTMENT OF EDUCATION, THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK, AND FEDERAL GRANTS FROM THE NATIONAL SCIENCE FOUNDATION, THAT ARE EARMARKED TO BENEFIT CERTAIN ACADEMIC PROGRAMS OR CAPITAL PROJECTS. IN ADDITION, THE COLLEGE RECEIVED APPROXIMATELY $2.7M IN HIGHER EDUCATION EMERGENCY RELIEF FUNDING. THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF") PROVIDES FUNDING TO INSTITUTIONS FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS AS WELL AS FUNDING TO SUPPORT THE COSTS OF SHIFTING CLASSES ONLINE AND OTHER INSTITUTIONAL COSTS INCURRED RELATED TO THE PANDEMIC. THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITIES ACT ("CARES") WAS SIGNED INTO LAW ON MARCH 27, 2020 AND PROVIDED THE COLLEGE WITH FUNDING UNDER HEERF I. THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT ("CRRSAA") WAS SIGNED INTO LAW ON DECEMBER 27, 2020 AND PROVIDED THE COLLEGE WITH FUNDING UNDER HEERF II. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID (CONTINUED): THE AMERICAN RESCUE PLAN ("ARP") WAS SIGNED INTO LAW ON MARCH 11, 2021 AND PROVIDED THE COLLEGE WITH FUNDING UNDER HEERF III. EACH OF THESE AWARDS HAS A STUDENT AID PORTION AND AN INSTITUTIONAL PORTION. X 1 SHEER STRATEGY LLC 3 N CARINGOM RD NEW YORK NY 10956 GRANTS APPLICATION 0 0 65050 0 MCALLISTER & QUINN LLC 1030 15TH ST NW STE 590W WASHINGTON DC 20005 GRANTS APPLICATION 0 0 68600 0 133650 NY GOLF OUTING 184405 163705 20700 49297 4137 6808 DINNER DANCE 21900 21900 682 2 14500 14500 1654 1653 2086 220805 200105 20700 49297 1654 5790 9576 66317 -45617 SCHEDULE G, PART II: DUE TO THE COVID-19 PANDEMIC, THE COLLEGE WAS REQUIRED TO CANCEL ITS REGULARLY SCHEDULED IN-PERSON DINNER DANCE. ALL REVENUES RECEIVED FROM THIS EVENT ARE RECORDED AS CONTRIBUTIONS. IN ADDITION, THE COLLEGE INCURRED SOME NON-REIMBURSABLE COSTS FOR THESE EVENTS AND HAS ALLOCATED THEM ACCORDINGLY IN SCHEDULE G, PART II. 1 COLLEGE BASED SCHOLARSHIP 1337 17183533 FEDERAL GOVERNMENT BASED AID 178 187750 PRIVATE SCHOLARSHIP 71 235928 HIGHER EDUCATION EMERGENCY RELIEF FUND 1458 842111 PART I, LINE 2: GRANTS AND ASSISTANCE IN THE UNITED STATES THE AWARDING OF STUDENT FINANCIAL AID GRANTS UNDER THE U.S. DEPARTMENT OF EDUCATION'S STUDENT FINANCIAL ASSISTANCE PROGRAM IS MONITORED BY THE COLLEGE'S FINANCIAL AID OFFICE, WHICH ENSURES THAT THE COLLEGE MEETS THE COMPLIANCE REQUIREMENTS OF TITLE 2, US CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. THE COLLEGE'S FINANCIAL AID OFFICE IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING EFFECTIVE INTERNAL CONTROL OVER COMPLIANCE WITH THE REQUIREMENTS OF LAWS, REGULATIONS, CONTRACTS, AND GRANTS APPLICABLE TO FEDERAL PROGRAMS. MONITORING OF FEDERAL AND FOUNDATION GRANTS SUPPORTING COLLEGE OPERATING ACTIVITIES IS COORDINATED BETWEEN THE FINANCIAL AID OFFICE, THE CHANCELLOR'S OFFICE, THE CONTROLLER'S OFFICE AND THE VP OF INSTITUTIONAL ADVANCEMENT. THESE OFFICES AND INDIVIDUALS ENSURE THAT APPROPRIATE CONTROLS ARE ESTABLISHED AND THAT GRANT REQUIREMENTS FOR DOCUMENTATION, TRACKING, EXPENDITURE OF FUNDS AND REPORTING ARE MET. ALL STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, ATHLETIC ABILITY AND OTHER SIMILAR STANDARDS. IN ADDITION, THE COLLEGE DISPENSED CERTAIN EMERGENCY FINANCIAL AID TO STUDENTS AS REQUIRED BY THE HIGHER EDUCATION EMERGENCY RELIEF FUND "HEERF." NO FURTHER MONITORING OF THE USE OF HEERF FUNDING IS REQUIRED BY THE COLLEGE (AS THE AID IS NOT DISPENSED UNLESS THE STUDENT MEETS THE ELIGIBILITY REQUIREMENTS). X 1 1 X X X 0 0 0 0 0 0 0 0 0 SR MARY EILEEN O'BRIEN OP PRESIDENT 251177 0 0 0 0 0 720 0 19468 0 271365 0 0 0 ANTHONY J CIPOLLA VP FINANCIAL AFFAIRS 149949 0 0 0 0 0 3850 0 19725 0 173524 0 0 0 THOMAS NOWAK VP OF ACADEMIC AFFAIRS 148262 0 0 0 0 0 3535 0 19725 0 171522 0 0 0 MICHAEL KELLY DIRECTOR OF GRADUATE STUDIES 149153 0 0 0 0 0 2308 0 19725 0 171186 0 0 0 JOSEPH VALENTI VP INSTITUTIONAL ADVANCEMENT 147353 0 0 0 0 0 0 0 19725 0 167078 0 0 0 BRIAN FERNANDES VP OF ENROLLMENT 138730 0 0 0 0 0 3529 0 19725 0 161984 0 0 0 RUSSELL DIAZ EXECUTIVE DIRECTOR OF IT 134503 0 0 0 0 0 2936 0 19725 0 157164 0 0 0 SCHEDULE J SEVERAL OF THE COLLEGE'S OFFICERS ARE MEMBERS OF THE SISTERS OF ST. DOMINIC OF BLAUVELT AND RECEIVE FREE HOUSING (E.G. A HOUSING ALLOWANCE) PROVIDED BY THE COLLEGE. THE FAIR MARKET RENTAL VALUE OF THE HOUSING ALLOWANCE (APPROXIMATELY $15,200 PER OFFICER) IS EXCLUDED FROM THESE OFFICERS' SALARIES AS IT REPRESENTS A PERMISSIBLE NON-TAXABLE FRINGE BENEFIT UNDER SECTION 107 OF THE INTERNAL REVENUE CODE FOR MEMBERS OF A RELIGIOUS ORDER. A COUNTY OF ROCKLAND INDUSTRIAL DEVELOPMENT AGENCY 136007344 2013-07-24 8705000 REISSUED 2005 SERIES A&B BONDS 0 0 0 B COUNTY OF ROCKLAND INDUSTRIAL DEVELOPMENT AUTHOR 136007344 773557AF0 2014-12-14 10653930 REISSUED 2004 SERIES A&B BONDS 0 0 0 C ROCKLAND COUNTY ECONOMIC ASSISTANCE CORPORATION 274524167 773557AY9 2014-12-14 15632950 REFUND 2006 SERIES A&B BONDS 0 0 0 A 2538819 8705000 8705000 2013 1 0 1 1 B 2784510 10653930 10653930 2014 1 0 1 1 C 2408900 15632950 312659 15320291 2014 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 0 1 0 1 RBC 17.000000000000 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 FORM 990, SCHEDULE K, PART IV, LINE 2C DOMINICAN COLLEGE HAD A REBATE CALCULATION PERFORMED ON ALL THREE OF THE BONDS DISCLOSED IN THE SCHEDULE K OF THE FORM 990. FOR THE BOND ORIGINALLY ISSUED IN JUNE OF 2005 AND REFINANCED IN JULY OF 2013, THE REBATE COMPUTATION WAS PERFORMED ON JULY 23, 2018; FOR THE BONDS ISSUED IN AUGUST OF 2004 AND DECEMBER OF 2006 (BOTH OF WHICH WERE REFINANCED IN DECEMBER OF 2014), THE REBATE CALCULATION WAS PERFORMED ON DECEMBER 16, 2019. THE REBATE CALCULATION FOR THE 2005 BONDS CONFIRMED AN ARBITRAGE REBATE DUE OF $46,944. ON SEPTEMBER 17, 2018, THE COLLEGE REMITTED THE $46,944 IN REBATE TO THE FEDERAL GOVERNMENT. THE REBATE CALCULATIONS FOR THE 2004 AND 2014 BONDS CONFIRMED THAT NO REBATE WAS DUE ON THE BONDS. GENERAL EXPLANATORY STATEMENT REGARDING THE COVID-19 IMPACT ON THE COLLEGE IN DECEMBER 2019, AN OUTBREAK OF A NOVEL STRAIN OF CORONAVIRUS ("COVID-19") EMERGED GLOBALLY, AND IN MARCH 2020 THE WORLD HEALTH ORGANIZATION DECLARED THE SPREAD OF COVID-19 A WORLDWIDE PANDEMIC. KEEPING THE HEALTH AND SAFETY OF THE COMMUNITY AS ITS PRIMARY PRIORITY, THE COLLEGE'S CAMPUS WAS CLOSED IN MARCH 2020 AND MOVED THE REMAINDER OF THE SPRING 2020 SEMESTER TO VIRTUAL LEARNING. ALTHOUGH SOME VIRTUAL LEARNING CONTINUED INTO THE FALL 2020 SEMESTER MOST CLASSES RETURNED TO IN-PERSON INSTRUCTION. THE CAMPUS WAS COMPLETELY RE-OPENED WITH IN-PERSON CLASSES IN SPRING 2021 WITH STUDENTS BEING REQUIRED TO BE VACCINATED OR PROVIDE PERIODIC NEGATIVE COVID-19 TEST RESULTS. AS A RESPONSE TO THE COVID-19 PANDEMIC THE U.S. FEDERAL GOVERNMENT PASSED THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT ("CARES ACT"). DURING FISCAL 2020 THE COLLEGE WAS AWARDED A HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF") GRANT TOTALING $1,808,846 UNDER THE CARES ACT. THE DEFERRED REVENUE FROM FISCAL 2020 OF $858,242 WAS DISBURSED ON QUALIFYING EXPENDITURES AND SUBSEQUENTLY RECOGNIZED AS GOVERNMENT GRANT REVENUE IN THE CURRENT FORM 990. IN DECEMBER 2020, THE HIGHER EDUCATION EMERGENCY RELIEF FUND II ("HEERF II") WAS AUTHORIZED BY THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT AS A FURTHER COVID-19 PANDEMIC RESPONSE. DURING FISCAL 2021 THE COLLEGE WAS AWARDED A HEERF II GRANT TOTALING $2,710,968. A PORTION OF THE HEERF II GRANT TOTALING $842,111 WAS DISBURSED TO QUALIFYING STUDENTS FOR EMERGENCY AID AND IS RECOGNIZED AS GOVERNMENT GRANT REVENUE ON THIS YEAR'S FORM 990, PART VIII, LINE 1(E). ADDITIONALLY, $1,061,819 WAS RECOGNIZED AS GOVERNMENT GRANT REVENUE RELATED TO INSTITUTIONAL SUPPORT AND ADDITIONAL SUPPORT TO STUDENTS. THE BALANCE OF THE GRANT AWARDED TOTALING $807,038 TO SUPPORT INSTITUTIONAL EXPENSES RELATED TO COVID-19 IS RECOGNIZED AS DEFERRED REVENUE TO SUPPORT INSTITUTIONAL EXPENSES RELATED TO COVID-19 WILL BE REPORTED AS GOVERNMENT GRANT REVENUE ON NEXT YEAR'S FORM 990. IN ADDITION, THE COLLEGE WAS AWARDED AN AMERICAN RESCUE PLAN ("HEERF III") GRANT IN THE AMOUNT OF $5,086,879. NO HEERF III FUNDS WERE RECEIVED IN FISCAL 2021. ON APRIL 16, 2020 THE COLLEGE RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $3,150,500 FROM BANKUNITED, NA UNDER THE PAYCHECK PROTECTION PROGRAM ("PPP"). THE PPP, ESTABLISHED AS PART OF THE CARES ACT, PROVIDES FOR LOANS TO QUALIFYING BUSINESSES. THE LOANS AND ACCRUED INTEREST ARE FORGIVABLE AFTER EIGHT WEEKS AS LONG AS THE BORROWER USES THE LOAN PROCEEDS FOR ELIGIBLE PURPOSES, INCLUDING PAYROLL, BENEFITS, RENT AND UTILITIES, AND MAINTAINS ITS PAYROLL LEVELS. THE AMOUNT OF LOAN FORGIVENESS WILL BE REDUCED IF THE BORROWER TERMINATES EMPLOYEES OR REDUCES SALARIES DURING THE EIGHT-WEEK PERIOD. THE COLLEGE RECEIVED FULL FORGIVENESS OF ITS PPP LOAN IN JUNE OF 2021 AND HAS RECOGNIZED THIS REVENUE IN FORM 990, PART VIII, LINE 1(E). FORM 990, PART III, LINE 1 THE AIM OF DOMINICAN COLLEGE IS TO PROMOTE EDUCATIONAL EXCELLENCE, LEADERSHIP, AND SERVICE IN AN ENVIRONMENT CHARACTERIZED BY RESPECT FOR THE INDIVIDUAL AND CONCERN FOR THE COMMUNITY AND ITS NEEDS. FOUNDED BY THE DOMINICAN SISTERS OF BLAUVELT, THE COLLEGE IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING, CATHOLIC IN ORIGIN AND HERITAGE. IN THE DOMINICAN TRADITION, IT FOSTERS THE ACTIVE, SHARED PURSUIT OF TRUTH AND EMBODIES AN IDEAL OF EDUCATION ROOTED IN THE VALUES OF REFLECTIVE UNDERSTANDING AND COMPASSIONATE INVOLVEMENT. COMMITTED TO BUILDING ITS PROGRAMS UPON A STRONG FOUNDATION IN THE LIBERAL ARTS AND SCIENCES, THE COLLEGE MAINTAINS A STUDENT-CENTERED CLIMATE AND SERVES A DIVERSE COMMUNITY OF STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS. THE COLLEGE EMPOWERS THIS COMMUNITY OF LEARNERS TO EXCEL, LEAD AND SERVE WITH INTEGRITY AND TO ENGAGE RESPONSIBLY IN THE PURSUIT OF A MORE JUST, ETHICAL AND SUSTAINABLE WORLD. DOMINICAN COLLEGE IS DEDICATED TO THE PRINCIPLE THAT ITS EDUCATIONAL PROGRAMS AND SERVICES MUST BE BOTH CHALLENGING AND SUPPORTIVE, DISTINGUISHED BOTH BY HIGH STANDARDS AND BY ATTENTION TO THE NEEDS AND POTENTIAL OF THE INDIVIDUAL STUDENT. AFFIRMED AND ENGAGED BY THESE STANDARDS AND VALUES, GRADUATES ARE PREPARED FOR PURPOSEFUL LIVES AND FOR THE CAREERS AND PROFESSIONS THEY CHOOSE TO PURSUE. FORM 990, PART IV, LINE 34 RELATED PARTIES DISCLOSURE THE COLLEGE WAS FOUNDED BY THE SISTERS OF ST. DOMINIC OF BLAUVELT IN 1952 AS A THREE-YEAR LIBERAL ARTS COLLEGE IN THE CATHOLIC TRADITION, OFFERING A TEACHER PREPARATION PROGRAM FOR WOMEN RELIGIOUS. THE COLLEGE DEEMS THE SISTERHOOD TO BE A RELATED PARTY OF THE COLLEGE, BUT SINCE THE SISTERS DO NOT MEET THE IRS DEFINITION OF A RELATED PARTY, THE COLLEGE HAS OPTED TO NOT COMPLETE A SCHEDULE R. IN THE INTERESTS OF FULL DISCLOSURE, THE COLLEGE IS INCLUDING THIS SCHEDULE O NARRATIVE TO DISCLOSE THE RELATIONSHIP. FORM 990, PART VI, SECTION A GOVERNING BODY AND MANAGEMENT THE COLLEGE IS REPORTING 34 BOARD MEMBERS, OF WHICH 32 ARE INDEPENDENT VOTING MEMBERS OF THE BOARD. THE TWO "COMPENSATED" BOARD MEMBERS ARE MEMBERS OF THE DOMINICAN SISTERS OF BLAUVELT WHO HAVE TAKEN A BONA FIDE VOW OF POVERTY. ALL AMOUNTS REPORTED IN PART VII AND SCHEDULE J OF THE 990 WERE PAID DIRECTLY TO THE ORDER. WHILE THE SISTERS COULD BE CONSIDERED INDEPENDENT UNDER THE IRS GUIDELINES; NEVERTHELESS, IN THE INTEREST OF FULL DISCLOSURE, THE COLLEGE IS REPORTING THEM BOTH AS NON-INDEPENDENT. FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW FORM 990 THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FINAL DRAFT OF THE FORM 990. THE AUDIT COMMITTEE MAKES RECOMMENDATIONS ON CHANGES AS NECESSARY. THE COMMITTEE VOTES TO APPROVE THE FORM 990 AND ARRANGES TO HAVE THE APPROVED FORM 990 SENT TO EACH BOARD MEMBER FOR REVIEW AND COMMENTS. THE AUDIT COMMITTEE RESOLVES INQUIRIES FROM BOARD MEMBERS AFTER THEIR REVIEW. ONCE THE PROCESS IS COMPLETE, THE COLLEGE SUBMITS THE FORM 990 TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT & MONITORING OF CONFLICT OF INTEREST POLICY THE COLLEGE REQUIRES ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES TO COMPLETE AN ANNUAL QUESTIONAIRE THAT REQUIRES THE INDIVIDUALS TO DISCLOSE ANY TRANSACTIONS THAT MAY POTENTIALLY RESULT IN A CONFLICT OF INTEREST. THESE ARE REVIEWED BY THE BOARD CHAIRMAN AND THE PRESIDENT OF THE COLLEGE. THE VP FOR FINANCIAL AFFAIRS COLLECTS THE KEY EMPLOYEE DISCLOSURE FORMS AND REVIEWS THEM WITH THE PRESIDENT OF THE COLLEGE. TO THE EXTENT THAT A CONFLICT OF INTEREST IS DISCOVERED, THE TRANSACTION IS VETTED IMMEDIATELY AND THE APPROPRIATE ACTION UNDERTAKEN. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE WHICH REVIEWS AND APPROVES ALL KEY EMPLOYEE ANNUAL COMPENSATION WITHOUT ANY CONFLICT OF INTEREST WITH RESPECT TO THAT COMPENSATION. THE COMMITTEE USED COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PEOPLE IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. THIS IS AN ANNUAL PROCESS WHERE CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATION AND DECISION REGARDING THE COMPENSATION ARRANGEMENT IS RECORDED. THE COMMITTEE UTILIZES DATA FROM CUPA-HR AS COMPARATIVE DATA FOR ANALYSIS. DOMINICAN COLLEGE COMMISSIONED ITS LAST COMPENSATION SURVEY IN MARCH OF 2019. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION.