2018-05-15T14:08:50-05:00 2017-06-30 113266576 Grassi & Co CPA's PC 488 Madison Avenue 21st Floor New York NY 10022 990 2016-07-01 131740447 the COLLEGE OF NEW ROCHELLE COLL 9146545000 29 castle place new rochelle NY 10805 thomas cunningham VP OF FINANCE and administration 9146545000 2018-05-15 1 David Rottkamp P01303468 2126616166 2016 2022-09-23 18:48:47Z thomas cunningham 29 castle place new rochelle NY 10805 84904199 0 X www.cnr.edu X college 1904 NY THE COLLEGE OF NEW ROCHELLE'S MISSION IS TO PROVIDE ACCESS TO EDUCATION. IT CURRENTLY EDUCATES 4,000 STUDENTS ANNUALLY BY PROVIDING BOTH UNDERGRADUATE AND GRADUATE EDUCATION. THE COLLEGE HAS FOUR SCHOOLS, SCHOOL OF ARTS AND SCIENCEs, SCHOOL OF NURSING & healthcare professions, GRADUATE SCHOOL AND THE SCHOOL OF NEW RESOURCES. THE COLLEGE ALSO PROVIDES ROOM AND BOARD FACILITIES FOR THOSE STUDENTS WHO CHOOSE TO LIVE ON CAMPUS. 26 25 1311 0 0 0 6332759 12456927 61827568 66156063 444326 267097 78099 6024112 68682752 84904199 13902803 16088129 0 0 37328882 35670738 97500 0 2722906 31558526 30632032 82887711 82390899 -14204959 2513300 87698670 86191043 110270032 97491824 -22571362 -11300781 X The College of New Rochelle is 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 reaches out to those who have not previously had access to higher education. It places particular emphasis on the concept of lifelong learning. The College is committed to a respect and concern for each individual. 0 0 60025121 16088129 61620108 Higher Education. The College of New Rochelle provides undergraduate and graduate education for more than 4000 students annually. The students attend the School of Arts & Sciences, the School of Nursing & healthcare professions, the School of New Resources and the Graduate School. 3006441 4535955 Room and Board for Students Residing on Campus and general Fees for all students. 63031562 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 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 41 0 1 1311 1 0 0 0 0 0 0 0 0 0 0 X 26 25 0 0 1 1 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X thomas cunningham 9146545714 29 CASTLE PLACE NEW ROCHELLE NY 10805 gwen adolph CHAIR OF THE BOARD 1.00 X X 0 0 0 judith a huntington president (ended 10/15/16) 40.00 X X 365193 0 29854 rosa kittrell barksdale trustee 1.00 X 0 0 0 karen calo trustee 1.00 X 0 0 0 lillian brennan carney trustee 1.00 X 0 0 0 tyrone davis trustee 1.00 X 0 0 0 cynthia dipietrantonio trustee 1.00 X 0 0 0 carla romita eccleston trustee 1.00 X 0 0 0 MARGARET ann moser trustee 1.00 X 0 0 0 celeste m johnson trustee 1.00 X 0 0 0 MARY SOMMER trustee 1.00 X 0 0 0 ann peterson trustee 1.00 X 0 0 0 james reichbach trustee 1.00 X 0 0 0 jane scully reichle trustee 1.00 X 0 0 0 kevin service trustee 1.00 X 0 0 0 diana stano trustee 1.00 X 0 0 0 joan woodcome trustee 1.00 X 0 0 0 hugh johnston trustee 1.00 X 0 0 0 john nIcholson trustee 1.00 X 0 0 0 saddie smith trustee 1.00 X 0 0 0 JOAN FREILICH TRUSTEE 1.00 X 0 0 0 ANNE MARIE HYNES TRUSTEE 1.00 X 0 0 0 DOLORES CASTELLANO KING TRUSTEE 1.00 X 0 0 0 christine lasala trustee 1.00 X 0 0 0 marlene tutera trustee 1.00 X 0 0 0 kathleen finnerty trustee 1.00 X 0 0 0 betty roberts vp finance (ended 11/21/16 40.00 X 196527 0 23726 thomas cunningham vp finance (started 11/01/16) 40.00 X 127115 0 6213 dorothy escribano provost & Senior VP Academ 40.00 X 280800 0 36391 kevin cavanagh VP Enrollment Management 40.00 X 230000 0 6900 brenna sheenan mayer VP College Advancement 40.00 X 229529 0 31146 elaine white VP Student Services (ended june 2017) 40.00 X 153000 0 14940 h michael dreher Assoc VP Health Innovation 40.00 X 180043 0 41960 warren andrews cheif information officer (ended 11/11/16) 40.00 X 150646 0 5719 kristine donofrio southard dean snr 40.00 X 159157 0 7647 joellen vavasour Director of human resources 40.00 X 141765 0 9900 nancy girling director of information systems 40.00 X 133552 0 28007 ana maria fontoura dean - gill library 40.00 X 132483 0 22994 debra simons interim dean - son 40.00 X 128800 0 6993 2608610 0 272390 24 0 1 0 culinart 175 sunnyside blvd plainview NY 11803 food service 2146274 db systems corp 34 s broadway suite 601 white plains NY 10601 computer database services 1800000 755 co-op city associates lp 30-56 whitestone expressway whitestone NY 11354 classroom and office space rental 1387677 GRASSI & CO 50 JERICHO QUADRANGLE JERICHO NY 11753 ACCOUNTING SERVICE 1273678 CULLEN AND DYKMAN LLP 4850 quentin roosevelt blvd garden city NY 11530 legal services 1203323 46 3755783 8701144 12456927 tuition and fees 611310 61620108 61620108 sales and services of auxiliary e 611310 4535955 4535955 66156063 267097 267097 6024112 6024112 6024112 84904199 72180175 0 267097 16088129 16088129 1843389 313171 1255625 274593 27177348 22214987 4051649 910712 1108648 886820 182290 39538 3417784 2751815 548926 117043 2123569 1656384 382242 84943 4589656 4589656 231515 231515 30966 30966 7962322 6210611 1433218 318493 1301089 1079904 221185 161616 126060 29091 6465 152233 118742 27402 6089 3191238 1436057 1531794 223387 136772 106682 24619 5471 49767 38818 8958 1991 3157526 2462870 568355 126301 2020160 1575725 363629 80806 705917 550615 127065 28237 payroll tax penalties a 2601062 2028828 468191 104043 miscellaneous expense 1286285 1003297 231536 51452 utilities 1191144 929092 214406 47646 repairs and maintenance 1183276 922955 212990 47331 679488 530000 122308 27180 82390899 63031562 16636431 2722906 625083 2115400 3557855 3887089 3729602 5928231 5438999 5191866 834871 793985 128118199 68944104 61027600 59174095 6386076 3900119 1040000 5058584 5200258 87698670 86191043 13366292 11417755 7661136 5657226 49177173 48196350 7500000 5500000 32565431 26720493 110270032 97491824 X -29611805 -17028580 2019158 1986517 5021285 3741282 -22571362 -11300781 87698670 86191043 X 2513300 537979 8219302 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2539501 X Instructional Purposes 0 3628641 670230 670230 1307826 2320815 4656485 27500 -145385 909959 3628641 21002554 132980 52344 153977 6277472 117000 14639429 19955584 25000 9211213 155435 7926159 107649 21002554 21177499 107000 2408116 295193 4310838 131000 18955584 1.00000 0 0 258703 258703 96411137 39023935 57387202 31250104 29920169 1329935 198255 198255 59174095 beneficial interest in perpetual trust 365123 investments - photographs 2539501 deposit with bond trustees 2259384 investments - other 36250 5200258 payroll taxes liabilities 20586381 interest rate swap 1086268 accrued postretirement benefit obligation 604181 us government grants refundable 4443663 26720493 X 69323083 537979 537979 68785104 30966 16088129 16119095 84904199 66271804 0 66271804 30966 16088129 16119095 82390899 Part III, Line 1a: The photographs are displayed and used for instructional purposes. Part V, Line 4: Endowment Fund earnings are used to provide scholarships to students. Part X, Line 2: The College recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. The College believes it has taken no significant uncertain tax positions. Income generated from activities unrelated to the College's exempt purpose is subject to tax under Internal Revenue Code Section 511. The College did not have any material unrelated business income tax liability for the year ended June 30, 2017. Part XI, Line 4b - Other Adjustments: Scholarships & Grants 16,088,129. Part XII, Line 4b - Other Adjustments: Scholarships & Grants 16,088,129. 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 publicizes 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 receive PELL Grants and SEOG awards from federal government and TAP awards from New York State. 1 Grants and Scholarships Provided by the College 3676 16088129 Scholarships and grants awarded by the financial aid office. Part I, Line 2: College Funded Scholarships and grants as well as scholarships and grants from restricted sources (need and merit based) provided to students of the four schools of the College. The scholarships are credited to students accounts and are monitored through the financial aid office in conjunction with the finance office. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 judith a huntington president (ended 10/15/16) 365193 0 0 0 0 0 7950 0 21904 0 395047 0 0 0 betty roberts vp finance (ended 11/21/16 196527 0 0 0 0 0 5896 0 17830 0 220253 0 0 0 dorothy escribano provost & Senior VP Academ 280800 0 0 0 0 0 7950 0 28441 0 317191 0 0 0 kevin cavanagh VP Enrollment Management 230000 0 0 0 0 0 0 0 6900 0 236900 0 0 0 brenna sheenan mayer VP College Advancement 229529 0 0 0 0 0 6845 0 24301 0 260675 0 0 0 elaine white VP Student Services (ended june 2017 153000 0 0 0 0 0 4590 0 10350 0 167940 0 0 0 h michael dreher Assoc VP Health Innovation 180043 0 0 0 0 0 5355 0 36605 0 222003 0 0 0 warren andrews cheif information officer (ended 11/ 150646 0 0 0 0 0 4519 0 1200 0 156365 0 0 0 kristine donofrio southard dean snr 159157 0 0 0 0 0 0 0 7647 0 166804 0 0 0 joellen vavasour Director of human resources 141765 0 0 0 0 0 4253 0 5647 0 151665 0 0 0 nancy girling director of information systems 133552 0 0 0 0 0 4007 0 24000 0 161559 0 0 0 ana maria fontoura dean - gill library 132483 0 0 0 0 0 0 0 22994 0 155477 0 0 0 Part I, Line 1a College housing was provided for the President. 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 A 0 Form 990, Part VI, Section A, line 4 changes to the organizational bylaws were made in january 2017. Form 990, Part VI, Section A, line 5 In July 2016, financial irregularities began to be discovered, including approximately $20 million in state and federal payroll taxes that had not been filed or paid by the College for eight quarters, beginning with the quarter ending September 30, 2014 through the quarter ending June 30, 2016. The Board took immediate action to oversee an investigation into the matter as well as engaging a Chief Restructuring officer to assess, stabilize, restructure, and manage the College's finances. The investigation determined that the College's former controller failed to file the required tax returns and pay the taxes due. Further, some members of the College's senior management at that time did not provide accurate or complete information to the Board about the College's finances. The investigation also revealed significant vendor payables, significant depletion of endowment assets, and drawing down on lines of credit. During fiscal 2017, the Board accepted the resignation of the Board President and restructed the senior management team, which included the hiring of a new controller in March 2017. In August 2017, the College reached an agreement with the IRS for the payment of $17,325,863.30 in unpaid federal payroll taxes, pursuant to which the College makes monthly payments of $230,000. In September 2017, the College reached an agreement with the NYS Department of Taxation and Finance for the payment of $4,890,690.33 in unpaid state payroll taxes, pursuant to which the College makes monthly payments of $51,000. Form 990, Part VI, Section B, line 11b a copy of the form 990 was distributed to the governing board for review. Form 990, Part VI, Section B, line 12c Conflict of interest statements are completed annually by the Board of Trustees, Officers and key employees and are reviewed by the College's attorney. Form 990, Part VI, Section B, line 15 The compensation of officers and key employees is reviewed and compared to comparable published compensation data for similar instituions using national administrative compensation surveys. The chair of the Board of Trustees in conjunction with the Compensation Committee of the Board reviews the compensation data. This process is documented. Form 990, Part VI, Section C, line 19 The documents are distributed upon request. Form 990, Part XI, line 9: amount not yet recognized as a component of net periodic benefit cost 216,702. change in value of perpetual trust 27,823. change in value of interest rate swap agreement 1,286,588. abatement of penalties and interest 6,688,189. Form 990, Part XII, Line 2c: this process has not changed from prior year.