2021-02-28T09:31:06-06:00 2020-06-30 364709572 CROWLEY & HALLORAN CPAS PC 215 WASHINGTON ST STE 100 WATERTOWN NY 136013343 990 2019-07-01 150533545 PAUL SMITHS COLLEGE OF ARTS AND SCIENCES PAUL 5183276291 PO BOX 265 PAUL SMITHS NY 129700265 JANET WALDRON VP FINANCE & ADMIN 5183276201 2020-02-15 true PAMELA J HALLORAN P00804150 3157883140 2021-02-23 2019 2022-09-23 18:48:47Z JANET WALDRON PO BOX 265 PAUL SMITHS NY 12970 38079907 false X WWW.PAULSMITHS.EDU X 1946 NY HIGHER EDUCATION: "THE REAL VALUE OF A PSC EDUCATION IS IN THE EMPHASIS ON NOT JUST LEARNING SOMETHING, BUT IN ACTUALLY DOING IT." THE PAUL SMITH'S COLLEGE COMMUNITY PROVIDES A DYNAMIC EDUCATIONAL ENVIRONMENT WHICH ENCOURAGES STUDENTS TO BE ACTIVELY ENGAGED IN THEIR OWN LEARNING EXPERIENCE BY FOSTERING CREATIVE, ETHICAL AND INTELLECTUAL GROWTH. 28 28 919 125 192910 6099052 9847706 27680591 25950921 245140 -37212 1483014 1011599 35507797 36773014 10610598 11072338 0 13354188 13090162 0 1122537 14743993 13205513 38708779 37368013 -3200982 -594999 78279798 77974804 18674672 17117592 59605126 60857212 X HIGHER EDUCATION: "THE REAL VALUE OF A PSC EDUCATION IS IN THE EMPHASIS ON NOT JUST LEARNING SOMETHING, BUT IN ACTUALLY DOING IT." THE PAUL SMITH'S COLLEGE COMMUNITY PROVIDES A DYNAMIC EDUCATIONAL ENVIRONMENT WHICH ENCOURAGES STUDENTS TO BE ACTIVELY ENGAGED IN THEIR OWN LEARNING EXPERIENCE BY FOSTERING CREATIVE, ETHICAL AND INTELLECTUAL GROWTH. false false 28454071 11072338 19611280 POSTSECONDARY EDUCATION, GENERAL/OTHER: INSTRUCTION - TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN IN THE ARTS AND SCIENCES, WITH AUTHORITY TO CONFER THE DEGREES OF ASSOCIATES IN ARTS (AA), ASSOCIATES IN APPLIED SCIENCE (AAS) AND BACHELOR OF SCIENCE (BS) IN CONFORMITY WITH THE REGENTS OF NYS AND THE COMMISSIONER OF EDUCATION. APPROXIMATELY 750 STUDENTS. 6339641 6339641 POSTSECONDARY EDUCATION, GENERAL/OTHER: AUXILLIARY ENTERPRISES - THE OPERATION AND MAINTENANCE OF THE RESIDENCE HALLS, CAFETERIA AND CAMPUS STORE THAT SERVE THE STUDENTS. 34793712 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true true false false false false false false false false false false true false false false true false false false false true 66 0 919 true true true false false false false true true false false false false false false X 28 28 false false false false false false false true true false false true true true true true true true false false X ALEXANDER BRYDEN 5183276291 PO BOX 265 PAUL SMITHS NY 12970 MARK DZWONCZYK CHAIRMAN - I 5.00 X 0 0 0 PATRICIA K DOWDEN CHAIRMAN - O 5.00 X X 0 0 0 ANGELA NOBLE-GRANGE CO-VICE CHAI 5.00 X X 0 0 0 KATHARINE H WELLING CO-VICE CHAI 5.00 X X 0 0 0 KAREN REGEN-BAUM SECRETARY -I 5.00 X X 0 0 0 MARY JO HUNT SECRETARY - 5.00 X X 0 0 0 DAVID BLYE TREASURER - 5.00 X X 0 0 0 ANTHONY JOHNSON TRUSTEE 5.00 X 0 0 0 DANIEL D TESSONI PHD TRUSTEE 5.00 X 0 0 0 E PHILLIP SAUNDERS CHAIRMAN EME 5.00 X X 0 0 0 STUART H ANGERT TRUSTEE 5.00 X 0 0 0 PAUL E AVERY TRUSTEE 5.00 X 0 0 0 PAUL M CANTWELL JR TRUSTEE 5.00 X 0 0 0 ROBERT CHUR TRUSTEE 5.00 X 0 0 0 PAUL CIMINELLI TRUSTEE 5.00 X 0 0 0 PAUL COMEAU TRUSTEE 5.00 X 0 0 0 PETER P FORRENCE TRUSTEE 5.00 X 0 0 0 ROBERT FOX TRUSTEE 5.00 X 0 0 0 PAULINE JENNETT TRUSTEE 5.00 X 0 0 0 FRED BELTZ TRUSTEE 5.00 X 0 0 0 DWAYNE MAHONEY TRUSTEE 5.00 X 0 0 0 ANGELO MAZZONE TRUSTEE 5.00 X 0 0 0 KEN RAYMOND TRUSTEE 5.00 X 0 0 0 THOMAS ROGERS TRUSTEE 5.00 X 0 0 0 DENNIS CURTIN TRUSTEE 5.00 X 0 0 0 ELIZABETH THORNDIKE PHD TRUSTEE 5.00 X 0 0 0 SCOTT VAN LAER ALUMNI BOARD 5.00 X 0 0 0 JILL CHOATE BEIER TRUSTEE 5.00 X 0 0 0 LISA BARON TRUSTEE 5.00 X 0 0 0 CATHY S DOVE PRESIDENT 40.00 X 293116 0 14000 F RAYMOND AGNEW VP INST ADVA 40.00 X 185922 0 9296 NICHOLAS HUNT-BULL VP ACADEMIC 40.00 X 156353 0 7818 TERRY LINDSAY VP STUDENT A 40.00 X 141982 0 7099 DAVID PLACEY VP ENROLLMEN 40.00 X 150792 0 7540 SHANNON OBORNE CHIEF MARKET 40.00 X 177218 0 8861 MICHAEL BECCARIA DIRECTOR LIB 40.00 X 126518 0 6326 DANIEL KELTING FACULTY DIRE 40.00 X 113707 0 5685 JEFFREY WALTON DIRECTOR INS 40.00 X 111681 0 5584 JANET WALDRON VP FINANCE 40.00 X 0 0 0 ALEXANDER BRYDEN CONTROLLER 40.00 X 95277 0 4764 1552566 76973 10 false true false SODEXO OPERATIONS LLC PO BOX 360170 PITTSBURGH PA 152516170 FOOD/FACILITIES 3752115 HOMEENERGY SERVICES 33 DEPOT ST SARANAC NY 12983 HEATING 542533 ORR GROUP INC 3000 K STREET NW SUITE E280 WASHINGTON DC 20007 PROFESSIONAL 367915 CORNERSTONE SERVICES 32 SOUTH MAIN STREET SUITE 1 NORWOOD NY 13668 HVAC 246323 REGISTRY FOR COLLEGE UNIV PRESID 3 CENTENNIAL DRIVE PEABODY MA 01960 PROF FEES 214342 10 6444378 3403328 484289 9847706 STUDENT TUITION AND FEES 19611280 19611280 AUXILIARY ENTERPRISES 6339641 6339641 25950921 45048 45048 774835 857095 -82260 -82260 -82260 612791 449798 162993 162993 OTHER INCOME 900099 566752 566752 CONFERENCE SERVICES 561499 192910 192910 TIMBER HARVESTING 900099 88944 88944 848606 36773014 26606617 192910 125781 11072338 11072338 831133 664906 166227 9898434 9424081 181127 293226 390093 313665 68097 8331 1211121 1087675 65595 57851 759381 673907 51228 34246 2618260 2275040 70121 273099 96097 96097 72375 72375 283398 114429 168969 1723876 1633156 48098 42622 451890 449058 2832 2883231 2829536 53505 190 571768 535959 12223 23586 209439 146925 13389 49125 383296 383296 3027487 2985102 42385 386741 386741 LEASES/EQUIPMENT RENTALS 173688 168691 4997 MISCELLANEOUS 118962 112018 6444 500 STUDENT ACTIVITIES 81204 80897 307 RECRUITMENT 59013 56869 411 1733 64788 64329 459 37368013 34793712 1451764 1122537 244052 219814 742324 1280648 2132591 2914933 120441 103882 515773 464695 100592147 58327729 44062590 42264418 29990820 30363100 471207 363314 78279798 77974804 2319798 2821257 118529 309412 12692572 11862242 1923679 459681 1620094 1665000 18674672 17117592 X 36131079 36561183 23474047 24296029 59605126 60857212 78279798 77974804 X -594999 1878128 -31043 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30726414 83144 1838157 1656914 30726414 30772817 214675 2017179 2542644 30462027 29535080 68529 2512218 1343010 30772817 25450045 2360305 2967861 1243131 29535080 26701075 258563 -326705 1182888 25450045 0.29600 0.54560 0.15840 false false 811919 811919 80679863 41189309 39490554 19000426 17138420 1862006 99939 99939 42264418 ASSET RETIREMENT OBLIGATION 1379570 CHARITABLE GIFT ANNUITY 285430 1665000 X 39069897 1878128 449798 2327926 36741971 31043 31043 36773014 37817811 449798 449798 37368013 37368013 SCHEDULE D, PAGE 2, PART V, LINE 4 THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICES, APPROVED BY THE BOARD OF TRUSTEES, FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THESE ENDOWMENT ASSETS OVER THE LONG-TERM. THE COLLEGE'S SPENDING AND INVESTMENT POLICIES WORK TOGETHER TO ACHIEVE THIS OBJECTIVE. THE INVESTMENT POLICY ESTABLISHES AN ACHIEVABLE RETURN OBJECTIVE THROUGH DIVERSIFICATION OF ASSET CLASSES. THE CURRENT LONG-TERM RETURN OBJECTIVE IS TO ACHIEVE A TOTAL RETURN (INCOME PLUS CAPITAL CHANGE, NET OF ALL INVESTMENT EXPENSES) EQUAL TO OR EXCEEDING ANY APPROVED DISTRIBUTION RATE, PLUS THE INFLATION RATE AS MEASURED BY THE CONSUMER PRICE INDEX. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG- TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE COLLEGE TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES AN EMPHASIS ON U.S. EQUITY-BASED INVESTMENTS AND U.S. INTERMEDIATE-TERM DEBT SECURITIES TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK PARAMETERS. THE SPENDING POLICY CALCULATES THE AMOUNT OF MONEY ANNUALLY DISTRIBUTED FROM THE COLLEGE'S VARIOUS ENDOWED FUNDS, FOR SCHOLARSHIPS, PROGRAMS AND ADMINISTRATION. THE COLLEGE UTILIZES A TOTAL RETURN SPENDING RATE POLICY WHICH LIMITS THE AMOUNT OF INVESTMENT RETURN USED TO SUPPORT CURRENT OPERATIONS. THE LIMIT IS DETERMINED BY THE COLLEGE'S CURRENT BUDGETED AMOUNT TO BE SPENT FOR THE YEAR. UNDER THE TOTAL SPENDING POLICY, THE COLLEGE UTILIZED 765,000 AND 883,000 IN 2020 AND 2019, RESPECTIVELY. THIS EQUATES TO APPROXIMATELY 2.49% IN 2020 AND 2.90% IN 2019 OF THE FAIR VALUE OF THE ENDOWMENT FUNDS. ACCORDINGLY, OVER THE LONG TERM, THE COLLEGE EXPECTS ITS CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT ASSETS TO GROW AT AN AVERAGE RATE OF 3% ANNUALLY. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ENDOWMENT ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH INVESTMENT RETURN. SCHEDULE D, PAGE 3, PART X FASB ASC 740, "INCOME TAXES", REQUIRES ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTIES IN THEIR TAX POSITION. TAX YEARS INCLUDING 2016 AND LATER ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES. AREAS THAT THE IRS AND STATE TAX AUTHORITIES CONSIDER WHEN EXAMINING TAX RETURNS OF A CHARITY INCLUDE, BUT MAY NOT BE LIMITED TO, TAX-EXEMPT STATUS AND THE EXISTENCE AND AMOUNT OF UNRELATED BUSINESS INCOME. THE COLLEGE DOES NOT BELIEVE THAT IT HAS ANY UNCERTAIN TAX POSITIONS WITH RESPECT TO THESE OR OTHER MATTERS, AND HAS NOT RECORDED ANY UNRECOGNIZED TAX BENEFITS OF LIABILITY FOR PENALTIES OR INTEREST. THE COLLEGE IS NOT AWARE OF ANY CIRCUMSTANCES OR EVENTS THAT MAKE IT REASONABLY POSSIBLE THAT TAX BENEFITS MAY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE DATE OF THESE FINANCIAL STATEMENTS. SCHEDULE D, PAGE 4, PART XI, LINE 2D COST OF GOODS SOLD 449,798 SCHEDULE D, PAGE 4, PART XII, LINE 2D COST OF GOODS SOLD 449,798 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 NONDISCRIMINATORY POLICY IS AVAILABLE TO THE PUBLIC MEDIA SCHEDULE E, LINE 6 COLLEGE AWARDS FINANCIAL AID RECEIVED THROUGH GOVERNMENT TO STUDENTS. true SCHOLARSHIP AID 750 11072338 SCHEDULE I, PAGE 1, PART I, LINE 2 THE COLLEGE UTILIZES SYSTEMS DESIGNED FOR FINANCIAL AID TO STUDENTS AND MONITORS THE ACTIVITY AND USES OF FEDERAL, STATE, AND LOCAL GRANTS FUNDS WITH THE APPROPRIATE CRITERIA ON AN ONGOING BASIS. false false false false false false false false false CATHY S DOVE PRESIDENT 293116 14000 307116 F RAYMOND AGNEW VP INST ADVANCEMENT 185922 9296 195218 NICHOLAS HUNT-BULL VP ACADEMIC AFFAIRS 156353 7818 164171 DAVID PLACEY VP ENROLLMENT MNGMT 150792 7540 158332 SHANNON OBORNE CHIEF MARKETING OFF 177218 8861 186079 A COUNTY OF FRANKLIN IDA 141763507 2007-06-28 9340000 CAPITAL EXPENDITURES false false false B COUNTY OF FRANKLIN IDA 141763507 2011-02-24 10000000 CONSTRUCTION PROJECT false false false A 2007 false false true true B 2012 false false true true A false false false false false false false B false false false false false false false A false false false false false false false false false B false false false false false false false false false A false B false PURPOSE OF ISSUE DESCRIPTION COUNTY OF FRANKLIN IDA CAPITAL EXPENDITURES PURPOSE OF ISSUE DESCRIPTION COUNTY OF FRANKLIN IDA CONSTRUCTION PROJECT X 7 480175 X DONATED STAY 2 4114 false false false FORM 990 - ORGANIZATION'S MISSION HIGHER EDUCATION: "THE REAL VALUE OF A PSC EDUCATION IS IN THE EMPHASIS ON NOT JUST LEARNING SOMETHING, BUT IN ACTUALLY DOING IT." THE PAUL SMITH'S COLLEGE COMMUNITY PROVIDES A DYNAMIC EDUCATIONAL ENVIRONMENT WHICH ENCOURAGES STUDENTS TO BE ACTIVELY ENGAGED IN THEIR OWN LEARNING EXPERIENCE BY FOSTERING CREATIVE, ETHICAL AND INTELLECTUAL GROWTH. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING. THE COMMITTEE THEN REPORTS TO THE FULL BOARD OF TRUSTEES. FORM 990, PAGE 6, PART VI, LINE 12C THE COLLEGE HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS INCLUDED IN ITS BUSINESS ETHICS POLICY STATEMENT. THIS STATEMENT IS INCLUDED IN THE APPOINTMENT AND ANNUAL REAPPOINTMENT PACKETS FOR ALL EMPLOYEES AND IS RETAINED IN EACH EMPLOYEE'S PERSONNEL FILE. KEY EMPLOYEES, OFFICERS AND TRUSTEES ARE REQUIRED TO DISCLOSE ANY INTEREST THAT COULD GIVE RISE TO CONFLICTS. THESE PROCEDURES ARE PERFORMED ANNUALLY AND ARE MONITORED BY THE HUMAN RESOURCES AND BUSINESS OFFICES OF THE COLLEGE. FORM 990, PAGE 6, PART VI, LINE 15A A TRUSTEE SUB-COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT AND RECOMMENDS TO THE BOARD ANNUAL SALARY INCREASES. FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE UPON REQUEST TO THE COLLEGE FORM 990, PART XI, LINE 9 COST OF GOODS SOLD 449,798 COST OF GOODS SOLD -449,798 GREEN & WHITE HOSPITALITY LLC PO BOX 265 PAUL SMITHS NY 12970 452110175 HOSPITALIT DE 2063 PAUL SMITH COLLEGE