2020-04-24T19:00:16-05:00 2019-06-30 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2018-07-01 131740447 COLLEGE OF NEW ROCHELLE COLL 9142408646 29 CASTLE PLACE NEW ROCHELLE NY 10805 MARK PODGAINY INTRM CHIEF RESTRUCT OFFICER 9142408646 2020-04-23 1 MARY MADONIA P00405803 7168472651 2020-04-23 104.193.28.34 2020-04-23 09:32:46 ED P 3626C152FF6693385427291497293566E840F1F3 BF512D9CE1EF8DA07EB019BBD2702DD41F08F96B 2018 2021-01-29 14:40:06Z MICHAEL O'DONNELL 29 CASTLE PLACE NEW ROCHELLE NY 10805 73143804 0 X WWW.CNR.EDU X COLLEGE 1904 NY THE COLLEGE OF NEW ROCHELLE'S MISSION WAS TO PROVIDE ACCESS TO EDUCATION. IT EDUCATED 4,000 STUDENTS ANNUALLY BY PROVIDING BOTH UNDERGRADUATE AND GRADUATE EDUCATION. THE COLLEGE HAD FOUR SCHOOLS, SCHOOL OF ARTS & SCIENCES, SCHOOL OF NURSING & HEALTHCARE PROFESSIONS, THE SCHOOL OF NEW RESOURCES AND THE GRADUATE SCHOOL. THE COLLEGE ALSO PROVIDED ROOM AND BOARD FACILITIES FOR THOSE STUDENTS WHO CHOSE TO LIVE ON CAMPUS. 13 12 1183 17 0 0 6509840 5996935 66090635 66291699 -789566 97435 532477 757735 72343386 73143804 16132486 16292504 0 0 30382934 28593377 0 0 2319550 28800527 26596698 75315947 71482579 -2972561 1661225 81857479 77421794 95576499 86931752 -13719020 -9509958 X THE COLLEGE OF NEW ROCHELLE WAS DEDICATED TO THE EDUCATION OF WOMEN AND MEN IN THE LIBERAL ARTS AND IN PROFESSIONAL STUDIES. BUILDING UPON ITS ORIGINAL COMMITMENT TO WOMEN, THE COLLEGE ALSO REACHED OUT TO THOSE WHO HAD NOT PREVIOUSLY HAD ACCESS TO HIGHER EDUCATION. IT PLACED PARTICULAR EMPHASIS ON THE CONCEPT OF LIFELONG LEARNING. THE COLLEGE WAS COMMITTED TO A RESPECT AND CONCERN FOR EACH INDIVIDUAL. 0 0 54771711 16292504 62245174 HIGHER EDUCATION. THE COLLEGE OF NEW ROCHELLE PROVIDED UNDERGRADUATE AND GRADUATE EDUCATION FOR MORE THAN 4000 STUDENTS ANNUALLY. THE STUDENTS ATTENDED THE SCHOOL OF ARTS & SCIENCES, THE SCHOOL OF NURSING & HEALTHCARE PROFESSIONS, THE SCHOOL OF NEW RESOURCES AND THE GRADUATE SCHOOL. 1474325 4046525 ROOM AND BOARD FOR STUDENTS WHO RESIDED ON CAMPUS AND OTHER ANCILLARY AND AUXILIARY RELATED ACTIVITIES FOR ALL STUDENTS. 56246036 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 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 88 0 1 1183 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 9142408646 29 CASTLE PLACE NEW ROCHELLE NY 10805 GWEN ADOLPH TRUSTEE, CHAIR (7/1/18-1/1/19) 25.00 X X 0 0 0 LILLIAN BRENNAN CARNEY TRUSTEE 10.00 X 0 0 0 TYRONE DAVIS TRUSTEE 5.00 X 0 0 0 CHRISTINE DEVINNE TRUSTEE 5.00 X 0 0 0 CYNTHIA DIPIETRANTONIO TRUSTEE (7/1/18-10/26/18) 1.00 X 0 0 0 CARLA ROMITA ECCLESTON TRUSTEE (7/1/18-12/31/18) 3.00 X 0 0 0 KAREN CALO TRUSTEE 5.00 X 0 0 0 KATHLEEN FINNERTY TRUSTEE 5.00 X 0 0 0 CELESTE M JOHNSON TRUSTEE 5.00 X 0 0 0 CHRISTINE LASALA TRUSTEE, VICE CHAIR (7/1/18-1/2/19) 25.00 X X 0 0 0 JOHN NICHOLSON TRUSTEE (TO 10/23/18) 10.00 X 0 0 0 ANN PETERSON TRUSTEE 10.00 X 0 0 0 JANE SCULLY REICHLE TRUSTEE, VICE CHAIR (1/3/19-CURRENT) 10.00 X X 0 0 0 MARY SOMMER TRUSTEE 10.00 X 0 0 0 ELIZABETH SWENEY TRUSTEE 10.00 X 0 0 0 MARLENE MELONE TUTERA TRUSTEE, CHAIR (1/1/19-CURRENT) 25.00 X X 0 0 0 JOAN WOODCOME TRUSTEE (7/1/18-8/31/18) 3.00 X 0 0 0 WILLIAM LATIMER PRESIDENT (4/1/18-8/9/19) 60.00 X X 236867 0 3696 DOROTHY ESCRIBANO INTERIM PRES (TO 3/31/18) 40.00 X 213414 0 8748 THOMAS CUNNINGHAM VP FINANCE & ADMIN (TO 5/2019) 40.00 X 239084 0 18980 KEVIN CAVANAGH EXEC VP STRATEGY & PLAN (TO 1/18/19) 40.00 X 230354 0 6900 BRENNA MAYER VP COLLEGE ADVANCEMENT (TO 7/8/19) 40.00 X 224439 0 11329 H MICHAEL DREHER VP HEALTHCARE INNOVATION (TO 4/4/19) 40.00 X 160861 0 18980 DAVID DONNELLY SR VP OF ACADEMIC AFFAIRS (TO 8/9/19) 40.00 X 175101 0 0 KRISTINE SOUTHARD DEAN SNR (TO 8/9/19) 40.00 X 159943 0 0 DEBRA SIMONS DEAN SCHOOL OF NURSING (TO 3/1/19) 40.00 X 150319 0 0 LOUIS DESALLE ASSOC DEAN CIRRICULUM & INSTRUCTION 40.00 X 146194 0 0 MICHAEL O'DONNELL CONTROLLER 55.00 X 140288 0 0 2076864 0 68633 31 0 1 0 CULINART 175 SUNNYSIDE BLVD PLAINVIEW NY 11803 FOOD SERVICE 1970538 CULLEN AND DYKMANLLP 100 QUENTIN ROOSEVELT BLVD17TH FL GARDEN CITY NY 115302407 LEGAL SERVICES 1361719 755 CO-OP CITY ASSOCIATESLP 30-56 WHITESTONE EXPRESSWAY WHITESTONE NY 11354 CLASSROOM & OFFICE SPACE RENTAL 1259348 REEC WEST 125TH STLLC 18 EAST 48TH STPENTHOUSE NEW YORK NY 10017 CLASSROOM & OFFICE SPACE RENTAL 894465 SPARK 451 865 MERRICK AVENUE WESTBURY NY 11590 MARKETING & TECHNOLOGY 837550 31 1458543 4538392 5996935 TUITION AND FEES 611310 62245174 62245174 SALES & SERVICES OF AUXILIARY ITE 611310 4046525 4046525 66291699 97435 97435 757735 757735 757735 73143804 66291699 0 855170 16292504 16292504 495800 247900 123950 123950 23408139 18397172 4178759 832208 465178 362839 83732 18607 2403101 1874419 432558 96124 1821159 1420504 327809 72846 1939648 1939648 458027 458027 6091239 4751166 1096423 243650 717463 595494 121969 164350 128193 29583 6574 444881 347007 80079 17795 3819431 1718744 1833327 267360 246820 192519 44428 9873 11902 9284 2142 476 2718689 2120577 489364 108748 1774441 1384064 319399 70978 1377745 1074641 247994 55110 PAYROLL TAX PENALTIES & 1921279 1498598 345830 76851 UTILITIES 1293745 1009121 232874 51750 REPAIRS & MAINTENANCE 1238899 966341 223002 49556 MISCELLANEOUS 1195685 932635 215223 47827 1182454 922314 212842 47298 71482579 56246036 12916993 2319550 1840623 2528272 1000001 0 1919996 1710811 6701212 6973032 4631032 3916370 809798 1990205 101619454 45322367 57688165 56297087 4004591 3579286 3262061 426731 81857479 77421794 10322893 5538363 7887232 9516815 46689492 43883631 5344508 4312088 25332374 23680855 95576499 86931752 X -19998842 -15789780 2528107 2528107 3751715 3751715 -13719020 -9509958 81857479 77421794 X 1661225 368814 2179023 X 0 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3376159 382395 800000 2958554 2320815 345847 345847 -1055344 3376159 3628641 670230 670230 1307826 2320815 4656485 27500 -145385 909959 3628641 21002554 132980 52344 153977 6277472 117000 14639429 1.00000 0 0 258703 258703 96795811 41690730 55105081 4366685 3631637 735048 198255 198255 56297087 PAYROLL TAXES LIABILITIES 18679913 ACCRUED POSTRETIREMENT BENEFIT OBLIGATION 557279 US GOVERNMENT GRANTS REFUNDABLE 4443663 23680855 PART V, LINE 4: ENDOWMENT FUND EARNINGS WERE USED TO PROVIDE SCHOLARSHIPS TO STUDENTS. 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 PUBLICIZED ITS RACIAL NON-DISCRIMINATORY POLICY THROUGH ADVERTISEMENT, WEBSITE AND VARIOUS FORMS OF MEDIA AS WELL AS DURING THE PERIOD OF STUDENT REGISTRATION. SCHEDULE E, PART I, LINE 6 STUDENTS RECEIVED PELL GRANTS AND SEOG AWARDS FROM FEDERAL GOVERNMENT AND TAP AWARDS FROM NEW YORK STATE. 1 GRANTS AND SCHOLARSHIPS PROVIDED BY THE COLLEGE 1969 16292504 PART I, LINE 2 COLLEGE FUNDED SCHOLARSHIPS AND GRANTS AS WELL AS SCHOLARSHIPS AND GRANTS FROM RESTRICTED SOURCES (NEED AND MERIT BASED) WERE PROVIDED TO STUDENTS OF THE FOUR SCHOOLS OF THE COLLEGE. THE SCHOLARSHIPS WERE CREDITED TO THE STUDENT'S ACCOUNT AND WERE MONITORED THROUGH THE FINANCIAL AID OFFICE IN CONJUNCTION WITH THE FINANCE OFFICE. 1 X X X X X 0 0 0 0 0 0 0 0 0 WILLIAM LATIMER PRESIDENT (4/1/18-8/9/19) 236867 0 0 0 0 0 0 0 3696 0 240563 0 0 0 DOROTHY ESCRIBANO INTERIM PRES (TO 3/31/18) 213414 0 0 0 0 0 0 0 8748 0 222162 0 0 0 THOMAS CUNNINGHAM VP FINANCE & ADMIN (TO 5/2019) 239084 0 0 0 0 0 0 0 18980 0 258064 0 0 0 KEVIN CAVANAGH EXEC VP STRATEGY & PLAN (TO 1/18/19) 230354 0 0 0 0 0 0 0 6900 0 237254 0 0 0 BRENNA MAYER VP COLLEGE ADVANCEMENT (TO 7/8/19) 224439 0 0 0 0 0 0 0 11329 0 235768 0 0 0 H MICHAEL DREHER VP HEALTHCARE INNOVATION (TO 4/4/19) 160861 0 0 0 0 0 0 0 18980 0 179841 0 0 0 DAVID DONNELLY SR VP OF ACADEMIC AFFAIRS (TO 8/9/19 175101 0 0 0 0 0 0 0 0 0 175101 0 0 0 KRISTINE SOUTHARD DEAN SNR (TO 8/9/19) 159943 0 0 0 0 0 0 0 0 0 159943 0 0 0 DEBRA SIMONS DEAN SCHOOL OF NURSING (TO 3/1/19) 150319 0 0 0 0 0 0 0 0 0 150319 0 0 0 A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 6499032G5 2008-08-06 40000000 DEFEASE NYCIDA 1995 AND 1997 AND REPLACE CONSTRUCTION LOAN. 0 0 0 A 9927463 40000000 115349 2219633 28960832 2009 0 1 1 1 A 0 0 0 0 1 0 0 A 1 1 1 RBS CITIZENS 10.000000000000 0 0 0 0 1 FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, A COPY OF THE FORM 990 WAS DISTRIBUTED TO THE GOVERNING BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS WERE COMPLETED ANNUALLY BY THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES AND REVIEWED BY THE COLLEGE'S ATTORNEY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES WAS REVIEWED AND COMPARED TO COMPARABLE PUBLISHED COMPENSATION DATA FOR SIMILAR INSTITUTIONS USING NATIONAL ADMINISTRATIVE COMPENSATION SURVEYS. THE CHAIR OF THE BOARD OF TRUSTEES IN CONJUNCTION WITH THE COMPENSATION COMMITTEE OF THE BOARD REVIEWED THE COMPENSATION DATA. THIS PROCESS WAS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 1023 AND 990 ARE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG, AN ONLINE NOT-FOR-PROFIT FINANCIAL REPORTING WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST RATE SWAP 179,023. REVERSAL OF ACCRUED LITIGATION CONTINGENCY 2,000,000. CHAPTER 11 BANKRUPTCY THE COLLEGE FILED A PETITION FOR RELIEF UNDER CHAPTER 11 OF THE U.S. BANKRUPTCY CODE ON SEPTEMBER 20, 2019. ON MARCH 12, 2020, THE U.S. BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF NEW YORK ISSUED AN ORDER CONFIRMING THE COLLEGE'S CHAPTER 11 LIQUIDATION PLAN ("PLAN") AND APPROVING A LIQUIDATION TRUST BOARD. AS OF THIS DATE, THE EFFECTIVE DATE OF THE PLAN HAS NOT YET BEEN ESTABLISHED BY THE COURT, BUT IT IS ANTICIPATED TO OCCUR BEFORE THE END OF THE CURRENT FISCAL YEAR.