2022-03-17T13:00:10-05:00 2021-06-30 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402413902 990 2020-07-01 141468399 Mount Saint Mary College MOUN 8455610800 330 Powell Avenue Newburgh NY 125503412 Arthur Glass II VP Finance & Administration 2022-03-17 true Arthur Glass II 999009999 RACHEL SPURLOCK P00520729 5023263996 2020 2022-09-23 18:48:47Z Jason N Adsit 330 Powell Avenue Newburgh NY 125503412 153362116 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. 16 16 939 19 0 0 3936263 11231987 73267917 69255566 4222770 6896766 10225 -26034 81437175 87358285 24690048 27197360 0 31241987 29247200 0 685403 27330780 24403838 83262815 80848398 -1825640 6509887 205914688 218302494 63965584 59086100 141949104 159216394 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 56690131 27197360 56937296 MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2,455 FULL AND PART TIME STUDENTS, REPRESENTING OVER 22 STATES AND 17 COUNTRIES. 13736530 0 10192816 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 730 STUDENTS CALL OUR RESIDENCE HALLS HOME. 1907056 0 1580186 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. 0 0 545268 OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY. 545268 72333717 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 true false true false false false false false false false false true 2632 0 true 939 true false false false false false true true false false false false false false X 16 16 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 Anthony Liotti Vice Chair 1.0 X X 0 0 0 Michael Horodyski Chair 10.0 X X 0 0 0 Anne Marie Murray PhD Board Member 4.0 X 0 0 0 Charles Frank Board Member (Term Expired May 2021) 4.0 X 0 0 0 Christofer Guarino Board Member 1.0 X 0 0 0 Jake Kosack Board Member 2.0 X 0 0 0 Jeanne M Hosinski MD Board Member (Resigned March 31, 2021) 2.0 X 0 0 0 Jeremy Smith Board Member 2.0 X 0 0 0 Kekuut J Hoomkwap Board Member 1.0 X 0 0 0 Liam O'Brien Esq Board Member 15.0 X 0 0 0 Michael Catania Esq Board Member 4.0 X 0 0 0 Philip DeAngelo Board Member 5.0 X 0 0 0 Sister Constance Kelly OP '95 Board Member 2.0 X 0 0 0 Sister Constance Koch OP '71 Board Member 4.0 X 0 0 0 Sister Madeleine Tacy OP Board Member (Term Expired March 2021) 2.0 X 0 0 0 Sister Maureen Sullivan Board Member 2.0 X 0 0 0 Sister Patricia Magee OP 88 Board Member 3.0 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 Very Reverend John A Langlois OP Board Member (Term Expired December 2020) 1.0 X 0 0 0 Arthur D Glass MBA CPA Vice President for Finance & Administration 35.0 X 231956 0 11048 Dr Jason N Adsit PhD President 35.0 X 305440 0 86502 George Abaunza PhD Vice President for Academic Affairs 35.0 X 83149 0 13479 Elaine A O'Grady MBA Vice President for Students 35.0 X 152846 0 9049 Moira T Tolan Faculty 35.0 X 123409 0 7935 Nidhi Khurana-Baugh Vice President Advancement 35.0 X 144170 0 41029 Susan LaRocco Dean of the School of Nursing 35.0 X 145958 0 18943 Tiffany Gagliano Dean of the School of Business 35.0 X 143126 0 1220 Michael Olivette Former Vice President for Academic Affairs 0.0 X 116814 0 8194 1446868 0 197399 27 false true false PARKHURST DINING SERVICES PO Box 644091 PITTSBURGH PA 152644091 FOOD SERVICES 3436430 RL BAXTER BUILDING CORPORATION 278 MILL STREET SUITE 100 POUGHKEEPSIE NY 12601 CONSTRUCTION 1125718 FACILITIES MAINTENANCE CORPORATION PO BOX 3689 POUGHKEEPSIE NY 12601 FACILITY SERVICES 565991 DAUBMAN CORPORATE INTERIORS 272 TITUSVILLE ROAD POUGHKEEPSIE NY 12603 INTERIOR DESIGN SERVICES 401136 JENZABAR INC PO BOX 55018 BOSTON MA 022055018 TECHNOLOGY SERVICES 326442 20 142753 9575327 1513907 26246 11231987 Tuition and Fee Income 611310 56937296 56937296 Dormitories, Food, Service, Campus Store 611310 10192816 10192816 Elementary School - Pre K to Grade 8 611310 1580186 1580186 Food Services Revenue 611310 345784 345784 Other 611310 199484 199484 0 0 0 0 69255566 849959 849959 7699 14516 -6817 0 -6817 -6817 70734165 1238613 65462043 463928 5272122 774685 6046807 6046807 44127 142753 63344 -19217 -19217 0 0 0 0 0 87358285 69255566 0 6870732 27197360 27197360 735740 735740 54750 54750 22521242 19459086 2694380 367776 405 337 60 8 3872167 3223114 577870 71183 2062896 1717113 307860 37923 193001 193001 90419 90419 154849 154849 5364603 4779130 585473 0 675168 456928 157837 60403 1013375 521769 458246 33360 1085427 538058 547369 1788961 1660192 128769 0 117506 76773 30266 10467 33393 29802 3257 334 1953635 1889810 63825 7264623 6929075 335548 464364 302527 161837 Elementary School 1907056 1907056 Maintenance & Repairs 778398 725898 52500 Tuition Waivers 135542 135542 Small Equipment 51831 39763 12068 1331687 744384 538104 49199 80848398 72333717 7829278 685403 13194956 17166489 4103707 4560199 2736421 3208959 0 0 0 0 0 0 0 0 981058 1212500 197845799 92907110 109739771 104938689 51333317 47296660 21594825 37725423 389887 328191 0 1840746 1865384 205914688 218302494 2701562 2051428 0 0 1171270 1346927 53437185 50828274 0 0 0 0 0 0 0 0 6655567 4859471 63965584 59086100 X 130532239 144401411 11416865 14814983 0 0 0 0 0 0 141949104 159216394 205914688 218302494 X 6509887 9480449 0 0 0 1276954 X false true X true true true X 2493919 3984101 2609756 3936263 11231987 24256026 0 0 2493919 3984101 2609756 3936263 11231987 24256026 26531 24229495 846563 929459 1572691 1323322 857658 5529693 0 54803 73377 898229 24680 44127 1095216 30880935 369887359 0.7846 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INCOME FROM FUNDRAISING, COLUMN A - 54803.0, COLUMN B - 71894.0, COLUMN C - 67669.0, COLUMN D - 24680.0, COLUMN E - 44127.0, COLUMN F - 263173.0; DESCRIPTION - GROSS INCOME FROM GAMMING, COLUMN A - , COLUMN B - 1483.0, COLUMN C - 1660.0, COLUMN D - , COLUMN E - , COLUMN F - 3143.0; DESCRIPTION - CLASS ACTION SETTLEMENT, COLUMN A - , COLUMN B - , COLUMN C - 828900.0, COLUMN D - , COLUMN E - , COLUMN F - 828900.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6562111 1266707 681285 225286 0 0 8284817 5997757 437965 418311 291922 6562111 5700646 441942 149274 294105 0 0 5997757 5267966 185591 511193 264104 0 0 5700646 4885881 138166 499452 255533 0 0 5267966 0.0 0.758 0.242 false false 749591 749591 175264540 78114033 97150507 13614140 9499607 4114533 8217528 5293470 2924058 104938689 Limited Partnerships 397767 F Hedge Funds 29476468 F Funds of Funds 7851188 F 37725423 Derivative Liability 3357281 Government Grants Refundable 375790 Conditional asset retirement obligation Capital Lease Obligation Service Contract Liabilty 1126400 4859471 X 70996188 9480449 1276954 10757403 60238785 27119500 27119500 87358285 53728898 77860 77860 53651038 27197360 27197360 80848398 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 2021: restricted for scholarship support $3,994,485 - 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, 2021 and 2020. 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, 2021 and 2020. The College is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Unrealized gain on swap agreement - 1276954 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Institutional Aid - 27197360 Fundraising Expense - -63344 Rent Expense - -14516 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Fundraising Expense - 63344 Rent Expense - 14516 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Institutional Aid - 27197360 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-AND-TITLE-IX-GRIEVANCE-POLICY-9.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 397767 0 0 0 0 0 0 397767 0 397767 true false true true false false Golf Tournament 146830 102703 44127 0 2400 40727 13242 Gala 40050 40050 0 0 0 0 0 0 6975 0 186880 142753 44127 0 2400 40727 0 0 20217 63344 -19217 true SCHOLARSHIPS 2222 27197360 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 304900 0 0 0 540 0 12640 0 73862 0 391942 0 0 0 Arthur D Glass MBA CPA Vice President for Finance & Administration 229580 0 0 0 2376 0 9994 0 1054 0 243004 0 0 0 Nidhi Khurana-Baugh Vice President Advancement 143858 0 0 0 312 0 6975 0 34054 0 185199 0 0 0 Susan LaRocco Dean of the School of Nursing 142316 0 0 0 3642 0 6502 0 12441 0 164901 0 0 0 Elaine A O'Grady MBA Vice President for Students 152167 0 0 0 679 0 7752 0 1297 0 161895 0 0 0 Michael Olivette Former Vice President for Academic Affairs 115280 0 0 0 1534 0 7729 0 465 0 125008 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 A 6560000 0 25465000 0 0 0 321542 0 0 1540528 23602930 0 2013 true false true true B 7575000 0 40087992 0 0 0 576058 0 0 22306669 17205265 0 2013 false true true true C 1374100 0 3926000 0 0 0 78520 0 0 3847480 0 0 2018 false 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 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 true false false false false false false false A false B false C 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 & PROCEDURES 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. 16563 Tuition Waiver Academic Lynn Frank Family Member of Charles Frank, Board Member 54750 Compensation for full-time employment as Major Gifts Officer false X 3 26246 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - Stocks Number of Contributions Form 990, Part III, Line 4d Description of other program services (Expenses $ 0 including grants of $ 0)(Revenue $ 545,268) 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 VIII, Line 2f Other Program Service Revenue Other - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Unrealized gain on interest swap - 1276954;