2020-05-15T14:52:34-05:00 2019-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2018-07-01 135562167 BANK STREET COLLEGE OF EDUCATION % ERIN FLANSBURG BANK 2128754400 610 WEST 112TH STREET NEW YORK NY 100251120 JUSTIN TYACK COO 2129613370 2020-05-15 true Christina Rossetti P01491094 2127589700 2020-05-14 199.207.253.101 13407320201365000033 2020-05-15 P F7E791049FCEE4943A341CCA4F642AE72B60D2A0 F7E791049FCEE4943A341CCA4F642AE72B60D2A0 2018 2020-09-23 17:36:50Z SHAEL POLAKOW-SURANSKY PRES 610 WEST 112TH STREET NEW YORK NY 10025 75443965 false X www.bankstreet.edu X 1931 NY Bank Street college of education is an independent co-educational institution. For more information, see schedule O. 29 29 925 1000 432261 -505654 11487832 12287786 49690154 50083955 7171436 5063454 756045 937015 69105467 68372210 8652771 8745719 0 0 44977049 44324538 0 0 1558047 14207543 14035678 67837363 67105935 1268104 1266275 97845326 97642294 40553463 42320755 57291863 55321539 X Bank Street college of education is an independent co-educational institution. For more information, see schedule O. false false 23874560 5848957 27918563 SCHOOL FOR CHILDREN - BANK STREET HAS BEEN SERVING STUDENTS FOR 100 YEARS BY PROVIDING HIGH QUALITY EARLY CHILDHOOD PROGRAMS WHICH INCLUDE AN INDEPENDENT PROGRESSIVE SCHOOL FOR CHILDREN, AN ONSITE FAMILY CENTER AND AFTER SCHOOL AND SUMMER CAMP PROGRAMS. THE FAMILY CENTER, THE SCHOOL FOR CHILDREN, AFTER SCHOOL AND SUMMER CAMP ARE REFERRED TO AS CHILDREN'S PROGRAMS AT BANK STREET, AND ARE ADMINISTERED BY THE DEAN OF CHILDREN'S PROGRAMS. 17108198 2780094 21068725 GRADUATE SCHOOL - BANK STREET'S GRADUATE SCHOOL OF EDUCATION OFFERS MASTER'S PROGRAMS THAT INTEGRATE DIRECT EXPERIENCE WITH CHILDREN, TEACHERS AND FAMILIES, EXPLORATION AND EXAMINATION OF THEORY AND OBSERVATION AND REFLECTION. OUR GRADUATE DEGREES IN EDUCATION PROVIDE OUR STUDENTS WITH A THOROUGH, RIGOROUS, HUMANISTIC FOUNDATION FOR THEIR CAREERS IN EARLY CHILDHOOD, ELEMENTARY, AS WELL AS EDUCATIONAL LEADERSHIP, MUSEUM EDUCATION, CHILD LIFE, AND READING AND LITERACY. WE PREPARE EDUCATORS TO FIND WAYS TO MAKE LEARNING VITAL, ACTIVE, AND CREATIVE. 7129717 116668 1082633 BSEC - THE BANK STREET EDUCATION CENTER PARTNERS WITH SCHOOLS, SCHOOL SYSTEMS, STATES, AND COMMUNITITES TO FOSTER POSITIVE LEARNING OUTCOMES FOR STUDENTS AND EDUCATORS AND TO ADVANCE PRACTICE AND POLICY IN THE FIELD OF EDUCATION NATIONWIDE. FOR MORE INFORMATION, SEE SCHEDULE O. 1720625 0 466810 49833100 true true false true false false false false false true true false false false true true true false true false true false false false true false false true true true true false false false true false false false true false false false false false false false false true 1282 0 true 925 true true true false false false false true true false false false false false false X 29 29 false false false false false false false true true false false true true true true true true true true false NY X ERIN FLANSBURG 2129613358 610 WEST 112TH STREET New York NY 10025 SHAEL POLAKOW-SURANSKY PRESIDENT & TRUSTEE 40.0 0.0 X X 539380 0 198959 Wendy Van Amson Trustee(BEGAN:07/01/2018) 1.0 0.0 X 0 0 0 Anthony Asnes Trustee 1.0 0.0 X 0 0 0 CHARLES R BENDIT Trustee 1.0 0.0 X 0 0 0 JAY CHAKRAPANI Trustee 1.0 0.0 X 0 0 0 JONATHAN COLE Trustee 1.0 0.0 X 0 0 0 Yolanda C Ferrell-Brown Trustee and Chair 1.0 0.0 X X 0 0 0 Felice Friedman Trustee 1.0 0.0 X 0 0 0 Ofelia Garcia Trustee(BEGAN:07/01/2018) 1.0 0.0 X 0 0 0 Claudia Gonzalez-Romo Trustee 1.0 0.0 X 0 0 0 Sarah Gund Trustee(END:6/2019) 1.0 0.0 X 0 0 0 Victoria Hamilton Trustee 1.0 0.0 X 0 0 0 Margaret Honey Trustee 1.0 0.0 X 0 0 0 Josh Isay Trustee 1.0 0.0 X 0 0 0 Kristen Kane Trustee 1.0 0.0 X 0 0 0 Sue Kaplan TRUSTEE&VICE CHAIR(END:6/19) 1.0 0.0 X X 0 0 0 Fern Khan Trustee(BEGAN:07/01/2018) 1.0 0.0 X 0 0 0 Kenneth Lerer Trustee 1.0 0.0 X 0 0 0 Adam Litke Trustee 1.0 0.0 X 0 0 0 Rebecca Mai Trustee 1.0 0.0 X 0 0 0 Adam Max Trustee 1.0 0.0 X 0 0 0 Elizabeth S Pforzheimer Trustee and Vice Chair 1.0 0.0 X X 0 0 0 Sandra Pinnavaia Trustee 1.0 0.0 X 0 0 0 Camilla Rab Trustee 1.0 0.0 X 0 0 0 Barbara Schatz Trustee(BEGAN:07/01/2018) 1.0 0.0 X 0 0 0 Anne V Shutkin Trustee and Secretary 1.0 0.0 X X 0 0 0 Jeffrey Q Smith Trustee 1.0 0.0 X 0 0 0 Howard S Stein Trustee and Treasurer 1.0 0.0 X X 0 0 0 Jeffrey I Sussman Trustee and Vice Chair 1.0 0.0 X X 0 0 0 Kevin Woodruff Trustee 1.0 0.0 X 0 0 0 ROSE KLEIN YOUNG ASSOCIATE TRUSTEE 1.0 0.0 X 0 0 0 Debbie Zlotowitz Trustee 1.0 0.0 X 0 0 0 JUSTIN TYACK CHIEF OPERATING OFFICER 40.0 0.0 X 305808 0 29106 MARION KOWALSKI CFO(END:8/2018) 40.0 0.0 X 106306 0 11343 Alpha Conteh CFO(END:10/2018) 35.0 0.0 X 54486 0 13160 Jed Lippard Dean, School for Children 40.0 0.0 X 374668 0 69658 Sonja Carter Vice President, DERO 40.0 0.0 X 198453 0 12898 Cecelia Traugh Dean, Grad School 35.0 0.0 X 216280 0 35307 Laura Guarino Assoc.Dean,Sch for Children 35.0 0.0 X 205438 0 30782 Douglas Knecht Director, Bank St Ed Center 35.0 0.0 X 201321 0 47637 Suleyni Abreu Administrative Officer, CAO 35.0 0.0 X 155454 0 15177 Ashaki Charles Associate VP, DERO 35.0 0.0 X 152582 0 28497 Tracy Fray-Oliver Director, Bank St Ed Center 35.0 0.0 X 152282 0 24262 2662458 0 516786 85 false true false SKYLINE RESTORATION INC 11-20 37TH AVENUE LONG ISLAND CITY NY 11101 RESTORATION SERVICES 475997 MACRO CONSULTANTS LLC 1040 AVE OF THE AMERICAS 15TH FLOO NEW YORK NY 10018 PROJECT MANAGEMENT 307152 MARVEL ARCHITECTS PLLC 145 HUDSON STREET NEW YORK NY 10013 ARCHITECTURE SVC 292751 KPMG LLP DEPT 0511 POB 120511 DALLAS TX 75312 AUDIT AND TAX 199700 Green Key LLC 475 PARK AVENUE SOUTH 7TH FLOOR NEW YORK NY 10016 STAFFING AGENCY 153097 8 739802 4290147 7257837 184965 12287786 TUITION AND FEES 611600 41771457 41771457 PROFESSIONAL DEVELOPMENT FEES 611430 7845688 7845688 AUXILLIARY ACTIVITIES 722320 466810 466810 50083955 5269864 5269864 0 9308 9308 19450 19450 0 19450 19450 6084738 6291148 -206410 -206410 -206410 328388 739802 305168 23220 23220 0 0 0 907700 475439 432261 432261 OTHER INCOME 900099 452776 452776 452776 68372210 50536731 432261 5115432 116668 116668 8629051 8629051 0 0 2264510 427463 1692661 144386 0 31962912 24774227 6343138 845547 1660294 1286883 329490 43921 6003494 4653267 1191411 158816 2433328 1886056 482901 64371 0 106908 106908 174026 24676 149350 55000 55000 0 283082 283082 2422865 1309173 1009025 104667 215123 32719 180532 1872 1474969 1021100 390974 62895 464059 84982 378281 796 0 2725981 1657749 1068232 421065 333534 86260 1271 0 1398271 1274533 119852 3886 731493 379138 330935 21420 0 2792539 1558264 1164601 69674 280058 280058 BANK FEES 231208 179510 27349 24349 MEMBERSHIP FEES 107510 52586 44748 10176 OTHER EXPENSES 151521 151521 67105935 49833100 15714788 1558047 5883550 5279166 3931788 4444334 4242359 5473628 2021270 1582454 0 0 0 0 27916 27916 253193 297122 1888067 1465713 58779274 30353087 29564688 28426187 46655715 49035438 0 0 371391 332970 0 0 3005389 1277366 97845326 97642294 5209798 4636179 0 0 6173564 7564237 19095664 18614410 0 0 0 0 0 0 0 0 10074437 11505929 40553463 42320755 X 16523714 13584026 16789640 17512078 23978509 24225435 57291863 55321539 97845326 97642294 X 1266275 -1970600 -1265999 X false true X true true true X 10756362 16819189 11234896 11487832 12287786 62586065 0 0 10756362 16819189 11234896 11487832 12287786 62586065 11739507 50846558 918987 1001419 913449 1084076 5298622 9216553 0 527096 391660 359865 601411 781164 2661196 74463814 250566148 0.68284 0.75300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false false false true 55222 55222 false OTHER ACTIVITIES FORM 990, SCHEDULE C, PART II-B, LINE 1J BANK STREET COLLEGE OF EDUCATION HIRED A CONSULTING FIRM THAT SPECIALIZES IN LOBBYING ACTIVITIES RELATED TO THE HIGHER EDUCATION INDUSTRY. THE COLLEGE PAID $55,000 TO LOBBYING CONSULTANTS DURING THE YEAR ENDED JUNE 30, 2019. IN ADDITION, THE COLLEGE IS A MEMBER OF VARIOUS ORGANIZATIONS THAT PROMOTE THE NEEDS OF HIGHER EDUCATION, AS WELL AS PROVIDE INFORMATION TO THE INDUSTRY (E.G. NACUBO). APPROXIMATELY 7% OF ANNUAL DUES IS ATTRIBUTED TO LOBBYING ACTIVITIES AND INCLUDED IN LINE 1J. 29601528 253285 1775390 1046528 30583675 28507697 217869 1796370 920408 29601528 24745894 1247615 3435054 344218 576648 28507697 20938933 5506356 -970216 342948 386231 24745894 19655798 1686924 237814 322099 319504 20938933 0.03130 0.78350 0.18520 false false 767581 767581 13070543 9777222 3293321 32647394 11312276 21335118 6963341 5295048 1668293 5330415 3968541 1361874 28426187 0 POSTRETIREMENT HEALTH BENEFIT PLAN 9433677 REFUNDABLE GOVT LOAN PROGRAM 642809 CONDITIONAL ASSET RETIREMENT OBLIG 459320 INTEREST RATE SWAP LIABILITY 970123 11505929 X 58367503 -1970600 -8578641 -10549241 68916744 283082 -827616 -544534 68372210 60307951 2063739 2063739 58244212 283082 8578641 8861723 67105935 Endowment funds Form 990, Schedule D, Part V, line 4 THE COLLEGE'S ENDOWMENT CONSISTS OF A PORTFOLIO OF ACTIVELY MANAGED FUNDS ESTABLISHED TO PROVIDE BOTH A SOURCE OF OPERATING FUNDS AS WELL AS LONG-TERM FINANCIAL STABILITY. THE ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. ENDOWMENT FUNDS MAY HAVE PURPOSE RESTRICTIONS ON USE OF THE INCOME. UNCERTAIN TAX POSITIONS FORM 990, SCHEDULE D, PART X, LINE 2 THE COLLEGE IS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND THEREFORE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (A) OF THE CODE AND A SIMILAR PROVISION OF THE STATE OF NEW YORK INCOME TAX LAW. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES UNRELATED TO ITS EXEMPT PURPOSE. THE COLLEGE RECOGNIZES THE BENEFITS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED IN 2019 OR 2018. RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART XI LINE 2, D $(8,578,641) TUITION DISCOUNTS AND SCHOLARSHIPS LINE 4, B $(475,439) COST OF GOODS SOLD INCLUDED AS EXPENSES ON FINANCIAL $(47,009) TUITION REIMBURSEMENTS INCLUDED IN PART VIII $(305,168) DIRECT COSTS OF FUNDRAISING EVENTS INCLUDED AS EXPENSES ON FINANCIAL ------------ $(827,616) TOTAL RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XII LINE 2, D $475,439 COST OF GOODS SOLD INCLUDED AS EXPENSES ON FINANCIAL $47,009 TUITION REIMBURSEMENTS INCLUDED AS EXPENSES ON FINANCIAL $305,168 DIRECT COSTS OF FUNDRAISING EVENTS INCLUDED AS EXPENSES ON FINANCIAL $1,183,148 ADJUSTMENT FOR CHANGE IN FV OF INTEREST RATE SWAP $52,975 ADJUSTMENT FOR POST RETIREMENT HEALTH BENEFITS --------- $2,063,739 TOTAL LINE 4,B $8,578,641 TUITION DISCOUNTS AND SCHOLARSHIPS true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY & GOVERNMENT ASSISTANCE SCHEDULE E, PART I THE COLLEGE PUBLICIZES ITS NON-DISCRIMINATION POLICY IN REGISTRATION MATERIALS, BROCHURES AND ON ITS WEBSITE. THE COLLEGE IS COMMITTED TO ENSURING THAT IT DOES NOT RACIALLY DISCRIMINATE AGAINST ANY INDIVIDUAL. THE COLLEGE RECEIVES FEDERAL AND STATE EDUCATIONAL ASSISTANCE GRANTS SUCH AS PELL, BUNDY AND SIMILAR SOURCES. Europe (Including Iceland and Greenland) Program Services PROFESSIONAL DEVELOP. 110469 Sub-Saharan Africa Program Services PROFESSIONAL DEVELOP. 30046 140515 140515 false false false false false false METHOD OF REPORTING EXPENDITURES PART I, LINE 3, COLUMN (F) ACCRUAL METHOD. Trustees Dinner 841800 579195 262605 213803 13682 SFC Benefits 226390 160607 65783 59349 18334 0 1068190 739802 328388 273152 32016 305168 23220 true YONKERS PUBLIC SCHOOLS ONE LARKIN CENTER YONKERS NY 16301 136007340 YPS 66667 NY NETWORK COLLAB ROCHESTER CITY SCHOOLS DISTRICT 131 WEST BROAD STREET ROCHESTER NY 14614 166002010 RCSD 16667 NY NETWORK COLLAB SYRACUSE CITY SCHOOL DISTRICT 1005 WEST FAYETTE SCHOOL SYRACUSE NY 13204 156010157 SCSD 16667 NY NETWORK COLLAB UTICA CITY SCHOOL DISTRICT 106 MEMORIAL PARKWAY UTICA NY 13501 156002667 UCSD 16667 NY NETWORK COLLAB 4 SCHOLARSHIPS 500 8629051 GRANT ELIGIBILITY & MONITORING SCHEDULE I, PART I, LINE 1 AND 2 THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE COLLEGE. ALL SCHOLARSHIPS ISSUED ARE APPLIED DIRECTLY AGAINST THE STUDENT'S TUITION BALANCE; THEREFORE, THE STUDENT CAN EXERCISE NO DISCRETION IN THE USE OF THE FUNDS. SINCE ALL SCHOLARSHIPS DEFRAY COST OF TUITION, NO FURTHER MONITORING OF THE SCHOLARSHIPS IS REQUIRED. SCHEDULE I, PART I, LINE 2 PROGRAM MANAGERS WORK DIRECTLY WITH THE GRANTEES RECEIVING GRANT FUNDS AND MONITOR THE FUNDS ACCORDING TO THE GRANT AGREEMENT. MONITORING INCLUDES CONDUCTING REGULAR CONTACT/WORKING SESSIONS WITH THE GRANTEE OR DIRECT ASSISTANCE WITH THE IMPLEMENTATION OF THE GRANT ACTIVITIES. X true true X X X false false false false false false false false false SHAEL POLAKOW-SURANSKY PRESIDENT & TRUSTEE 504083 0 0 0 35297 0 35688 0 163271 0 738339 0 0 0 JUSTIN TYACK CHIEF OPERATING OFFICER 305808 0 0 0 0 0 0 0 0 0 305808 0 0 0 Jed Lippard Dean, School for Children 303967 70701 23947 0 45711 0 444326 0 0 0 Sonja Carter Vice President, DERO 198453 12432 0 466 0 211351 0 0 0 Cecelia Traugh Dean, Grad School 216280 13924 0 21383 0 251587 0 0 0 Laura Guarino Assoc.Dean,Sch for Children 205438 0 0 0 0 0 15658 0 15124 0 236220 0 0 0 Douglas Knecht Director, Bank St Ed Center 201321 0 0 0 13473 0 34164 0 248958 0 0 0 Suleyni Abreu Administrative Officer, CAO 155454 0 0 0 10037 0 5140 0 170631 0 0 0 Ashaki Charles Associate VP, DERO 152582 0 0 0 9745 0 18752 0 181079 0 0 0 Tracy Fray-Oliver Director, Bank St Ed Center 152282 0 0 0 9745 0 14517 0 176544 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE THE COLLEGE PROVIDED HOUSING TO THE PRESIDENT, SHAEL POLAKOW-SURANSKY. THE HOUSING PROVIDED WAS FOR THE CONVENIENCE OF THE COLLEGE AND IS TREATED AS A NONTAXABLE BENEFIT. THE PROVIDED HOUSING WAS NOT INCLUDED IN THE PRESIDENT'S IRS FORM W-2. A DASNY SERIES 2017A 146000293 000000000 2017-02-17 18000000 CAPITAL PROJ., REFUND 2002 BOND false false false A 194669 0 18000000 0 0 0 348229 0 0 14912957 1884044 854770 true false false A false false true true false 0 false false false true A false true false false true true PEOPLE'S UNITED BANK 0.298 false false false 0 true A true SCHEDULE K, PART III, LINE 3A THE MANAGEMENT AND SERVICE CONTRACTS WERE REVIEWED AND IT WAS DETERMINED THE CONTRACTS DO NOT RESULT IN PRIVATE BUSINESS USE. 88851 Financial Aid Offset Tuition X 21 184965 See Part II false true false NUMBER OF CONTRIBUTIONS PART I, COLUMN (B) THE NUMBER OF CONTRIBUTIONS IS REPORTED. METHOD OF DETERMINING NONCASH AMOUNT PART I, LINE 9, COLUMN (D) MEAN MARKET PRICE ON DATE OF CONTRIBUTION. BRIEF DESCRIPTION OF ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 BANK STREET COLLEGE OF EDUCATION IS AN INDEPENDENT CO-EDUCATIONAL INSTITUTION COMPRISED OF A SCHOOL FOR CHILDREN, A GRADUATE SCHOOL OF TEACHER'S EDUCATION, INNOVATION, POLICY AND RESEARCH INITIATIVES, FAMILY CENTER AND CHILDCARE SERVICES AND PROFESSIONAL DEVELOPMENT. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 THE MISSION OF BANK STREET COLLEGE IS TO IMPROVE THE EDUCATION OF CHILDREN AND THEIR TEACHERS BY APPLYING TO THE EDUCATION PROCESS ALL AVAILABLE KNOWLEDGE ABOUT LEARNING AND GROWTH, AND BY CONNECTING TEACHING AND LEARNING MEANINGFULLY TO THE OUTSIDE WORLD. IN SO DOING, WE SEEK TO STRENGTHEN NOT ONLY INDIVIDUALS, BUT THE COMMUNITY AS WELL, INCLUDING FAMILY, SCHOOL, AND THE LARGER SOCIETY IN WHICH ADULTS AND CHILDREN,IN ALL THEIR DIVERSITY, INTERACT AND LEARN. WE SEE IN EDUCATION THE OPPORTUNITY TO BUILD A BETTER SOCIETY. FORM 990, PART III, LINE 4C (CONTINUED FROM PART III) OUR WORK AIMS TO IMPROVE THE CARE AND EDUCATION OF STUDENTS FROM BIRTH THROUGH HIGHER EDUCATION BY STRENGTHENING AND ENABLING THE SUCCESS OF THE ADULTS WHO SUPPORT THEM. THROUGH A DISTINCT SET OF SPECIALIZED PROGRAMS AND PARTNERSHIPS, THE BANK STREET EDUCATION CENTER IS BUILDING AN EVIDENCE BASE TO INFORM LOCAL PRACTICE AND ADDRESS SOME OF THE NATION'S DEEPEST ORGANIZATIONAL CHALLENGES CURRENTLY HINDERING EFFECTIVE AND EQUITABLE TEACHING AND LEARNING FOR ALL. FORM 990 REVIEW FORM 990, PART VI, LINE 11B THE FORM 990 WAS PREPARED BY THE COLLEGE'S INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE COLLEGE'S FINANCIAL DEPARTMENT. THE FORM 990 WAS PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND A COPY WAS PROVIDED TO THE FULL BOARD OF TRUSTEES PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C EACH OFFICER AND TRUSTEE OF THE COLLEGE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF EMPLOYMENT OR BOARD SERVICE WITH THE COLLEGE. THE COLLEGE MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. ANYONE REFERENCED ABOVE WHO DISCLOSES A CONFLICT OF INTEREST WILL BE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISION MAKING PROCESS RELATED TO THE CONFLICT. OFFICER COMPENSATION REVIEW FORM 990, PART VI, LINE 15 A/B THE COLLEGE UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND OTHER OFFICERS OF THE COLLEGE IS REASONABLE GIVEN THE MARKET IN WHICH THE COLLEGE OPERATES; THE MOST RECENT EVALUATION TOOK PLACE IN MARCH 2017. THE COLLEGE HAS ESTABLISHED A COMPENSATION COMMITTEE OF TRUSTEES THAT ARE INDEPENDENT PERSONS WITH NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION AGREEMENT. THE COMPENSATION COMMITTEE UTILIZES COMPARABILITY AND BENCHMARKING SURVEYS TO ENSURE THAT THE COLLEGE COMPENSATES ITS EXECUTIVES COMMENSURATE WITH THE MARKET. THE COMPENSATION COMMITTEE WILL THEN SET THE COMPENSATION FOR THE RELEVANT EXECUTIVES AND DOCUMENT THE DECISION IN THE COMMITTEE MINUTES. DOCUMENT REVIEW POLICY FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GULDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 $(1,183,148) CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $ (52,975) ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN $ (29,876) WRITE-OFF OF UNCOLLECTIBLE PLEDGE ------------- $(1,265,999) TOTAL DE MINIMIS SAFE HARBOR ELECTION BANK STREET COLLEGE OF EDUCATION HEREBY MAKES THE DE MINIMIS SAFE HARBOR ELECTION UNDER SECTION 1.263(A)-1(F) OF THE TREASURY REGULATIONS, EFFECTIVE FOR THE TAX YEAR ENDING JUNE 30, 2019. TAXPAYER HAS AN APPLICABLE FINANCIAL STATEMENT FOR THE YEAR OF THE ELECTION. THIS ELECTION PERMITS THE TAXPAYER TO DEDUCT FOR TAX PURPOSES ANY ITEM DEDUCTED UNDER ITS BOOK POLICY THAT DOES NOT EXCEED $5,000 PER INVOICE (OR PER ITEM, AS SUBSTANTIATED BY THE INVOICE) OR ITEMS HAVING AN ECONOMIC USEFUL LIFE OF TWELVE MONTHS OR LESS AS DESCRIBED IN SECTION 1.263(A)-1(F)(1)(I). TAXPAYER NAME: BANK STREET COLLEGE OF EDUCATION ADDRESS: 610 WEST 112TH STREET, NEW YORK, NY 10025-1120 TAXPAYER IDENTIFICATION NUMBER: 13-5562167