2018-02-02T16:48:20-07:00 2017-06-30 990 2016-07-01 150532239 St Lawrence University STLA 3152295591 23 Romoda Dr Canton NY 13617 Jan Albano Interim VP for Finance 3152295897 2018-02-02 69.6.109.68 2016 2021-01-29 14:40:06Z Jan Albano 23 Romoda Dr Canton NY 13617 235504776 0 X www.stlawu.edu X 1856 NY The mission of St. Lawrence University is to provide an inspiring and demanding undergraduate education in liberal arts to students selected for their seriousness of purpose and intellectual promise. 38 37 2604 1100 4232812 18543222 37657630 156878644 157676402 3979584 6324418 1111003 1088824 180512453 202747274 65682057 66451480 0 66103179 69588786 0 7117740 55671819 56466258 187457055 192506524 -6944602 10240750 496955057 542786549 142560632 140341041 354394425 402445508 St. Lawrence University is a four year private, liberal arts higher education institution located in Canton, NY. The total program expenses are directed to the student body of approximately 2,400 for the purpose of preparing them to be critical and creative thinkers, to find a compass for their lives and careers, and to pursue knowledge and understanding for the benefits of themselves, humanity, and the planet. 0 0 167876397 66443980 202747274 St. Lawrence University is a four year, private, liberal arts higher education institution located in Canton, NY. the total program expenses are directed to the student body of approximately 2,400 for the purpose of preparing them to be critical and creative thinkers, to find a compass for their lives and careers, and to pursue knowledge and understanding for the benefit of themselves, humanity, and the planet. 0 0 0 167876397 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 0 1 1 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 0 1 3 0 1 2604 1 1 1 1 FR SP UK 0 0 0 1 1 0 0 0 0 0 0 0 X 38 37 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK MD MN ND NH NY SC WA X Jan Albano 3152295543 23 Romoda Dr Canton NY 13617 Michael Arpey Trustee 2 X 0 0 0 Lee Bailey Trustee 2 0 X 0 0 0 Jeffery Boyd Chairman 2 0 X X 0 0 0 Jo Ann Campbell Trustee 2 0 X 0 0 0 Andre Couture Trustee 2 X 0 0 0 William Crombie Trustee 2 0 X 0 0 0 Jennifer Curley Reichert Trustee 2 0 X 0 0 0 Christian Ehrhardt Trustee 2 0 X 0 0 0 Gregory Ferrero Trustee 2 0 X 0 0 0 Sharee Freeman Trustee 2 0 X 0 0 0 Cheryl Grandfield Trustee 2 0 X 0 0 0 Samantha Guerry Trustee 2 0 X 0 0 0 Joanie Byrne Hall Trustee 2 0 X 0 0 0 Eric Hanson Trustee 2 0 X 0 0 0 Peter Hunt Trustee 2 0 X 0 0 0 Jay Ireland Trustee 2 0 X 0 0 0 Sarah Johnson Trustee 2 0 X 0 0 0 R Sheldon Johnson Trustee 2 0 X 0 0 0 Charles Kellogg Trustee 2 0 X 0 0 0 Heather McCauley Trustee 2 0 X 0 0 0 S Georgia Nugent Trustee 2 0 X 0 0 0 David Officer Trustee 2 0 X 0 0 0 Amanda Pearson Trustee 2 0 X 0 0 0 Barry Phelps Vice Chair 2 0 X X 0 0 0 Derrick Pitts Trustee 2 0 X 0 0 0 Michael Ranger Trustee 2 0 X 0 0 0 Thomas Saddlemire Trustee 2 0 X 0 0 0 Earl Samson Trustee 2 0 X 0 0 0 Nicoline Sawabini Trustee 2 0 X 0 0 0 Timothy Simpson Trustee 2 0 X 0 0 0 Marion Roach Smith Trustee 2 0 X 0 0 0 Elinor Tatum Trustee 2 0 X 0 0 0 James Tyler Trustee 2 0 X 0 0 0 Donna Winston Trustee 2 0 X 0 0 0 Morgan Baker Trustee 2 0 X 0 0 0 Johnathan Cardinal Trustee 2 0 X 0 0 0 George Cochran Trustee 2 0 X 0 0 0 Joan Corey Trustee 2 0 X 0 0 0 William Fox President 40 0 X X 446310 0 46108 Joseph Manory Treasurer 40 0 X 230692 0 38612 Lisa Cania Secretary 40 0 X 174787 0 25088 Karl Schonberg VP Academic Affairs 40 0 X 178310 0 25235 Justin Sipher VP Information Technology 40 0 X 184944 0 31784 Jeff Rickey VP Admissions 40 2 X 189172 0 26793 Tom Pynchon VP Advancement 40 2 X 238647 0 66656 Joe Tolliver VP Student Affairs 40 2 X 175719 0 25071 Melissa Farmer Richards VP University Communications 40 2 X 157473 0 31246 Jan Albano Executive Director Finance 40 2 X 152970 0 29710 Val Lehr Professor 40 2 X 166543 0 24237 Elizabeth Short Senior Assoc for Philanthropy 40 2 X 154552 0 11988 Kim Hissong Assoc VP Advancement 40 2 X 151947 0 26973 Godwin Udechukwu Professor 40 0 X 142303 0 28349 2744369 0 437850 66 0 1 0 Cambridge Associates 100 Summer St Boston MA 02110 investment management 274075 Bond Shoeneck & King One Lincoln Center Syracuse NY 13202 legal services 396970 Relph Benefit Advisors 22113 Fabco Rd Watertown NY 13601 employee benefit consulting 144100 Mercer HR Consulting 70 Linden Oaks Rochester NY 14625 actuary services 127357 Bonadio & Co LLP 171 Sully Trail Pittsford NY 14534 auditing services 120885 6 0 0 0 0 2301884 35355746 29732922 37657630 Tuition 611310 120946740 120946740 0 0 Campus Housing 721000 15648021 15648021 0 0 Food Service 722210 13152798 13152798 0 0 Hotel 721110 3815770 470635 3345135 0 Other 611710 3724334 3396029 328305 0 388739 61556 327183 0 157676402 4262724 4230307 32417 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 32737469 409271 30770698 314348 1966771 94923 2061694 2058450 3244 0 0 2751280 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241793967 496955057 542786549 11505479 11807200 3368769 3558468 100765000 100765000 904167 763334 26017217 23447039 142560632 140341041 X 101582220 103574279 108380520 149402876 144431685 149468353 354394425 402445508 496955057 542786549 X 10240750 33415214 0 0 0 4395119 X 0 1 X 1 1 1 X 12242748 14025582 12498132 18543222 37657630 94967314 0 0 0 0 0 0 0 0 0 0 0 0 12242748 14025582 12498132 18543222 37657630 94967314 94967314 3262482 4063996 3670166 4545558 4262724 19804926 0 207414 231355 0 0 438769 115211009 0.82429 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 35395 0 1 1 28700 5631306 0 0 X X X X 0 267593470 5247026 37152535 6742222 4071411 3295361 295884037 282085578 7935596 -7102189 6804969 6200530 2320016 267593470 283875717 2685638 10903634 5934747 6278943 3165721 282085578 251421388 3093449 43696206 5903158 5926788 2505380 283875717 230276122 2040143 32726040 5232475 5872853 2515589 251421388 0.21 0.44 0.35 0 0 2662483 0 2662483 281332865 0 143386740 137946125 0 0 0 0 57987644 0 38796511 19191133 0 0 0 0 159799741 Mutual funds and limited partnership 237762412 F Real estate and life insurance 4031555 F 241793967 0 Annuities and Deferred Giving Obligations 4441779 Federal Student Loans 2968106 Accrued Pension and postretirement obligations 3818981 Capital lease 117008 Conditional Asset Retirement Obligation 4678896 Unamortized Premium and Deferred Financing 7422269 23447039 X 171390964 33415214 0 0 1672456 35087670 136303294 0 66443980 66443980 202747274 127735000 0 0 0 1672456 1672456 126062544 0 66443980 66443980 192506524 Schedule D, Part III, Line 4 St. Lawrence University's permanent collections provides students, faculty, scholars, and a broad regional community the opportunity to study and enjoy original works of art. The collection includes nearly 7000 art objects and artifacts, with particular strengths in twentieth century American and European works on paper, including photographs, prints, portfolios, drawings, and artist's books. Schedule D, Part V, Line 4 The intended uses of the endowment fund are to support the university's mission to educate students in the liberal arts tradition. Schedule D, Part X, Line 2 The University has been recognized by the IRS as an organization exempt from income taxes pursuant to Section 501(c)(3) of the Internal Revenue Code. Schedule D, Part XI, Line 2d Bookstore Cost of Goods Sold Schedule D, Part XI, Line 4b Student Financial Aid Schedule D, Part XII, Line 2d Bookstore Cost of Goods Sold Schedule D, Part XII, Line 4b Student Financial Aid 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The student body is drawn from all parts of the United States and many foreign countries. The University meets the requirements of REV PROC 75-50, SEC 7 032-(B) Schedule E, Part I, Line 6 St. Lawrence University receives financial assistance from the state of New York. In the year ended June 30, 2017 the university received $547,021 for the Higher Education Opportunity and C-Step Programs, $167,702 for the Bundy Aid Program, and some smaller amounts for some research and education programs. The university also received $220,643 from the federal Department of Education for the McNair program and $459,112 from the National Science Foundation for several equipment support and research. The university receives f federal awards and grants for students for financial aid (e.g. Title IV Campus Based Programs). 1 Sub-Saharan Africa 1 16 Program Services education abroad programs 844680 Europe (including Iceland and Greenland) 3 6 Program Services education abroad programs 1792789 4 22 2637469 financial aid Central America and the Caribbean 5 96299 credit to bill financial aid Europe (including Iceland and Greenland) 123 2020888 credit to bill financial aid Middle East and North Africa 5 70367 credited to bill financial aid Sub-Saharan Africa 25 345878 credited to bill financial aid East Asia and the Pacific 29 662322 credited to bill financial aid South Asia 11 167055 credited to bill 1 0 0 1 1 0 Schedule F, Part I, Line 2 The University's programs outside of the U.S. are administered by university employees who provide monthly financial reporting to administrative offices in the U.S. The results are included in the university's consolidated financial statements. The university's two larger abroad programs in the U.K. and Kenya are subject to audit each year and the audit reports are shared with the university's audit committee of the Board of Trustees. 1 Village of Canton Economic Development Consortium Main Street Canton NY 13617 156001278 7500 1 0 See Schedule I, Part IV, Statement 1 2232 Schedule I, Part I, Line 2 Need based financial aid comprises the larger part of the grants described in Part III. These grants are awarded for a maximum of eight semesters upon annual reapplication, subject to satisfactory academic and social standing. Merit based aid comprises the remainder of grants and assistance and requires maintenance of a minimum grade point average of 3.0. X X X X X 0 1 X X X X 0 0 0 0 0 0 0 0 0 William Fox President 437450 0 0 0 8860 0 45000 0 26908 0 518218 0 0 0 Joseph Manory Treasurer 229665 0 0 0 1023 0 23663 0 40364 0 294715 0 0 0 Karl Schonberg VP Academic Affairs 158702 0 0 0 19608 0 17563 0 7672 0 203545 0 0 0 Justin Sipher VP Information Technology 184179 0 0 0 766 0 19185 0 12599 0 216729 0 0 Jeff Rickey VP Admissions 187245 0 0 0 1927 0 19035 0 33558 0 241765 0 0 0 Tom Pynchon VP Advancement 236810 0 0 0 1837 0 24888 0 14975 0 278510 0 0 0 Joe Tolliver VP Student Affairs 173873 0 0 0 1846 0 17458 0 28013 0 221190 0 0 0 Lisa Cania Secretary 173632 0 0 0 1155 0 17418 0 7670 0 199875 0 0 0 Melissa Farmer Richards VP University Communications 156457 0 0 0 1155 0 17418 0 7670 0 182700 0 0 0 Jan Albano Executive Director Finance 152083 0 0 0 887 0 16115 0 13595 0 182680 0 0 0 Kim Hissong Assoc VP Advancement 151007 0 0 0 940 0 15775 0 11198 0 178920 0 0 0 Elizabeth Short Senior Assoc for Philanthropy 153000 0 0 0 1552 0 11475 0 513 0 166540 0 0 0 Godwin Udechukwu Professor 141157 0 0 0 1145 0 15046 0 13303 0 170651 0 0 0 Val Lehr Professor 163745 0 0 0 2799 0 16388 0 7849 0 190781 0 0 0 Schedule J, Part I, Line 1a The university does have a spousal travel policy. The university provides housing allowances or residence for personal use for transitioning employees, the Viebranz Professor of Creative Writing, the president, and the VP for Student Life. Social club dues and personal services are provided to the president as described in his employment agreement. Schedule J, Part I, Line 1b The university does have a written spousal travel policy. The university provides housing allowances or residence for personal use for transitioning employees, the Viebranz Professor of Creative Writing, the president, and the VP for Student Life. Social club dues and personal services are provided to the president as described in his employment agreement. Schedule J, Part II Nontaxable benefits for the president, Mr. Rickey, and Mr. Tolliver include the estimated value of their housing which is provided tax free as a condition of their employment to host university events and visitors. Nontaxable benefits for Mr. Manory include the value of tuition assistance for dependents through a standard program for all employees. A St Lawrence County IDA Civic Dev Corp 272614310 791078AZ1 2012-12-19 46819980 advance refund bonds issued 7/1/09 0 0 0 B St Lawrence University IDA Civic Dev Corp 242614310 790178BQ0 2016-05-25 31785422 Advance refund bonds issued 7/1/2009 0 0 0 A 0 0 46819980 0 0 0 547374 0 0 0 46272606 0 2012 0 1 1 1 B 0 0 31793126 0 31252848 329416 0 0 0 210862 0 2016 0 1 1 1 A 0 0 0 0 0.0223 0.0139 0.0362 0 0 1 B 0 0 1 1 1 1 0.0018 0 0.0018 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Schedule K, Part II, Line 3-05/25/2016 31,785,422 St Lawrence University IDA Civic Dev Corp The difference in the amount listed in Part II, Line 3, Column B from the issue price for the bonds issued on 5/25/16 listed in Part I, Column E, Row B is equal to the investment earnings on a refunding escrow. Schedule K, Part IV, Line 2c-12/19/2012 46,819,980 St Lawrence County IDA Civic Dev Corp The university hires a consultant to prepare an Arbitrage report annually. The rebate computation showed no rebate liability exists and was completed February 2, 2017. Schedule K, Part IV, Line 2c-05/25/2016 31,785,422 St Lawrence University IDA Civic Dev Corp The university hires a consultant to prepare an Arbitrage Rebate Report annually. The rebate computation showing no rebate liability exists was completed on July 19, 2017. Lynn Fox spouse of organization's president 25956 consulting compensation and travel expenses 0 James Tyler trustee and donor 207230 construction contract 0 Judy Angelo Cowen donor and spouse of investment manager 12415000 year end value of investments 0 Schedule L, Part IV In the fiscal year 2017, the university paid the president's spouse, Lynn Fox, $10,800 in consulting fees and associated travel expenses of $15,156 pursuant to a contract. The university has long held investments with Angelo Gordon and the 6/30/17 value of such investments was $12,415.000. John Angelo was co-owner of Angelo Gordon until his death in 2016. Both he and his wife are alumni of the university. Ms. Cowen's charitable trust donated $150,000 to the university in 2017. Trustee James Tyler is president and owner of Northland Associates which owns JDS Construction. In 2017, the university solicited proposals for renovations to the riding arena. After careful review by senior management and the board, JDS Construction, was selected for the project and the university entered a contract for the project. The university paid $207,230 for these renovations in the fiscal year reported. During the year, the university received a $70,000 donation from Northland Associates. X 2 20500 appraised FMV X 75 2520684 appraised FMV X Horses 4 520000 appraised FMV X Pledges 86 26671738 estimated present value 1 0 1 1 Schedule M, Part I, Line 32b The university owns a public radio station that contracts with a company which accepts gifts of automobiles on behalf of the radio station. The company accepts the automobile and sends the radio station a payment for its appraised value. Form 990, Part VI, Section A, Line 2 Trustee Cheryl Grandfield is owner of investment firm Grandfield and Dodd which manages investment portfolios for Trustees Mike Ranger and David Officer Form 990, Part VI, Section B, Line 11b The 990 form is reviewed and accepted by the audit committee of the board of trustees before filing and made available to all members of the board of trustees for their review and comments. Form 990, Part VI, Section B, Line 12c Trustees, officers, and employees are required to report compliance with the conflict of interest policy upon election or appointment and on an annual basis thereafter. Individuals are required to recuse themselves from deliberative and decision making processes on matters where any conflict of interest may exist. Form 990, Part VI, Section B, Line 15 The university benchmarks its financial data against a group of 25 liberal arts colleges. This includes comparative review of salaries and benefits. The compensation of the president and senior staff is determined annually by independent members of the compensation committee of the board of trustees in conjunction with a review of comparative data. An external professional consultant is used to determine the president's compensation. Persons with any conflict of interest are excluded from these proceedings which are contemporaneously documented. Form 990, Part VI, Section C, Line 19 The university's bylaws, financial statements, and conflict of interest policy are available on the university's website. Form 990, Part XI, Line 9 Contribution for LT Investment 4,190,201; Change in Postretirement Liability 235,391; Other (30,473). Laurentian Properties LLC 23 Romoda Dr Canton NY 13617 200803478 hotel and restaurant NY 3815770 5401159 St Lawrence University St Lawrence University London Programme 81 Gower St London UK WC1E6HJ study abroad program for university students UK 501(c)3 St Lawrence University 1 St Lawrence University Kenya Program PO Box 43795-00100 Karen Nairobi KE study abroad program for university students KE 501(c)(3) St Lawrence University 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 Schedule R, Part I St. Lawrence University provided a loan to Laurentian Properties in June, 2015 to finance capital renovations at the Best Western Inn and pay off a prior loan from another bank for similar renovations. The loan amount was 2,855,000 and is being repaid over 10 years. The interest rate charged is Libor plus 140 basis points.