2017-05-10T16:27:45-07:00 2016-06-30 990 2015-07-01 161532850 EXCELSIOR COLLEGE EXCE 5184648500 7 Columbia Circle Albany NY 122035159 Karl Lawrence VP of Finance and CFO 5186088198 2017-05-10 2015 2021-01-29 14:40:06Z James Baldwin 7 Columbia Circle Albany NY 122035159 147179952 0 X www.Excelsior.edu X 1998 NY Excelsior College provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The College meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 19 19 1768 19 0 0 1472493 1604038 95453508 102077967 362667 2025079 191531 434963 97480199 106142047 616045 710944 0 0 67612132 75966035 80430 63264 1591125 26578859 30483639 94887466 107223882 2592733 -1081835 63085662 68803759 27410351 35094552 35675311 33709207 Excelsior College provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The College meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 0 0 40832327 302961 78865076 Undergraduate and Graduate Tuition (credit and non-credit bearing). During this period, 173,115 undergraduate hours of course instruction, and 21,381 hours of graduate level course instruction were delivered. 11950499 375761 10806651 Nursing performance and other administered examinations. During this period, the College administered 19,905 credit bearing examinations to students enrolled in its various programs including Nursing and administered 1,558 performance examinations to students enrolled in its Nursing programs. 20797161 0 11035647 Enrollment in higher education. During this period, 16,814 new students enrolled in the College while there were 38,714 actively enrolled students as of 6/30/16. 4,926 students completed degree requirements between 7/1/15 and 6/30/16. 2903917 0 1370592 Other Program Services consists of: (1) The "Presidents' Forum" which provides higher education institutions the opportunity to exchange knowledge and perceptions of current models and tools for successful operation in an online environment. (2) The College's "Educators Serving Educators" program which works with higher education institutions to develop and deliver online programs and courses specializing in assisting institutions that serve individuals traditionally underrepresented in higher education. (3) The "National Cybersecurity Institute at Excelsior College" is an academic research center dedicated to assisting government, industry, military, and academic sectors meet the challenges in cybersecurity policy, technology, and education. (4) The Excelsior College Press which publishes contemporary nonfiction in areas that support the academic interests of the College. (5) The College collects interest on student loans. 2903917 0 1370592 76483904 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 310 0 1 1768 1 0 0 0 0 0 1 1 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Hillary Koldin 5186088382 7 Columbia Circle Albany NY 122035159 Polly Baca Board Member 1.2 X 0 0 0 Helen Benjamin Board Member 1.2 X 0 0 0 Don Dea Board Member 1.2 X 0 0 0 William G Harris Board Member 1.2 X 0 0 0 Debbie Hatmaker Board Member 1.2 X 0 0 0 Garry Jaunal Board Member 1.2 X 0 0 0 Jack M Lafield Board Member 1.2 X 0 0 0 Michael Loughran Board Member 1.2 X 0 0 0 KH Maman Board Member 1.2 X 0 0 0 Frank Mayadas Board Member 1.2 X 0 0 0 Jerry L Neff Chairman of the Board 1.4 X X 0 0 0 Mary O'Connor Vice Chair 1.4 X X 0 0 0 David Oliker Treasurer of the Board 1.4 X X 0 0 0 Sharon I Richie Board Member 1.2 X 0 0 0 William Senn Board Member (Ex-Officio) 1.2 X 0 0 0 Pamela Tate Secretary of the Board 1.4 X X 0 0 0 Andre Vacroux Board Member 1.2 X 0 0 0 Carol Vallone Board Member 1.2 X 0 0 0 Charles F Wald Board member 1.2 X 0 0 0 John Ebersole President and Chief Executive Officer 37.5 X 592048 0 107144 Mary Beth Hanner Provost and Chief Academic Officer 37.5 X 276074 0 40706 Wayne A Brown VP for IT & Chief Information Officer 37.5 X 248317 0 25143 John M Pontius VP for Finance and Administration 37.5 X 237420 0 26401 Susan O'Hern VP for Strategy & Institutional Effectiveness 37.5 X 222614 0 48413 Cathy Kushner Director of Leadership Academy 37.5 X 216790 0 42241 Christa Montagnino VP for Extended Education 37.5 X 216468 0 46370 James C Lettko CEO of Excelsior Workforce Institute 37.5 X 214489 0 4400 James N Baldwin VP and Chief of Staff 37.5 X 213147 0 21236 Craig J Maslowsky VP for Enrollment Management 37.5 X 211102 0 47504 Jeanne B Contardo VP for Regional Operations 37.5 X 199069 0 14646 Mark Howe VP of Human Resources 37.5 X 6615 0 0 Keith Barrows VP of Institutional Advancement 37.5 X 0 0 0 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 37.5 X 200156 0 39474 George Timmons Associate Provost of COELAS / Co-dean, School of Liberal Arts 37.5 X 187154 0 22076 Mary Lee Pollard Dean, School of Nursing 37.5 X 177240 0 17172 Karl Lawrence Dean, School of Business and Tech 37.5 X 168692 0 34423 Jane Leclair Chief Operating Officer of NCI 37.5 X 207051 0 28681 Robert Waters Dean, School of Public Service 37.5 X 192729 0 22646 Deborah L Sopczyk Dean, School of Health Sciences 37.5 X 173261 0 39908 Susan A Dewan AVP for Military Education 37.5 X 168173 0 24656 Thomas Dalton AVP for Enrollment Management/Financial Aid 37.5 X 156315 0 40450 Joseph Porter VP for Legal & Governmental Affairs, General Counsel 37.5 X 132231 0 12839 Murray Block Interim Dean, School of B&T / Director of Leadership Academy 37.5 X 123507 0 1938 4740662 0 708467 65 1 1 0 Milton S Eisenhower Library Johns Hopkins University Baltimore MD 21218 Library Services 1677466 BBL Development Group LLC 302 Washington Ave Ext Albany NY 12203 Construction Services 1512637 Google Inc Department No 33654 PO Box 39000 San Francisco CA 941393654 Advertising Services 1130385 TATA Interactive Systems Leela Business Park Andheri Kurla Road Mumbai IN 400 059 Course Development Services 987691 NCS Pearson Inc 13036 Collection Center Drive Chicago IL 60693 Examination Administrative Services 833152 70 0 0 73620 0 1004870 525548 12545 1604038 Graduate, UG, & Non-Credit Bearing Tuition 611310 78865076 78865076 0 0 Examination Fees 611310 10806651 10806651 0 0 Enrollment Related Fees 611310 11035647 11035647 0 0 Educators Serving Educators Fees 611310 1072662 1072662 0 0 Presidents' Forum Fees 611310 70481 70481 0 0 227450 227450 0 0 102077967 560023 0 0 560023 0 0 0 0 0 0 0 0 1030193 0 614556 0 415637 0 415637 0 0 415637 41873603 0 40157934 250613 1715669 -250613 1465056 0 0 1465056 5880 73620 14802 -8922 0 -8922 0 0 0 0 0 0 0 0 0 0 0 0 Merchandise 900099 17258 17258 0 0 Miscellaneous 900099 6790 6790 0 0 Bad Check Charges 900099 4200 4200 0 0 0 0 0 0 28248 106142047 102106215 0 2431794 X 0 0 710944 710944 0 0 0 0 4471040 1262885 2947342 260813 0 0 0 0 57236050 48530969 8030843 674238 3800208 2838288 897908 64012 5834950 4244909 1417748 172293 4623787 3488614 912218 222955 0 0 0 0 529817 0 529817 0 128790 0 128790 0 367873 0 367873 0 63264 63264 60668 0 60668 0 11424975 8507303 2878134 39538 3661426 0 3661176 250 2355703 1523173 783402 49128 2893114 178216 2714341 557 454457 454457 0 0 1590458 1122624 467834 0 2116596 1669623 414262 32711 0 0 0 0 631666 311872 308567 11227 3106 0 3106 0 0 0 0 0 2024847 1566876 457971 0 57265 53827 3438 0 Credit Card Fees 941502 0 941502 0 College Wide Bad Debt Expense 1136592 0 1136592 0 Misc. Expense 104784 19324 85321 139 0 0 0 0 107223882 76483904 29148853 1591125 -1110395 -2059412 14760602 13203074 177744 418680 4110059 5006035 0 0 0 0 13407 10850 107293 98158 2012662 2861930 37646168 14099715 16082049 23546453 22647161 25125536 0 0 872592 534471 0 0 3412488 57984 63085662 68803759 10953556 11933443 707618 0 9064905 9923600 0 0 0 0 0 0 5989758 12550258 0 0 694514 687251 27410351 35094552 X 33829819 31648855 702971 797973 1142521 1262379 35675311 33709207 63085662 68803759 -1081835 -884269 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 411150 0 1 5696 416846 0 Schedule C, Part II-B, Line 1 The majority of time/cost is spent in direct contact with various state legislators and other state government officials, in coordination with the College's registered lobbyist consultants, defending the College's Associate, Bachelor, and Master Degree Nursing programs. The College works to have state statutes and/or regulations changed or introduced to ensure that the College's Nursing graduates are eligible for Registered Nurse licensure in those states. A significant portion of cost/time is spent preparing materials to aid College Officials, in coordination with the College's registered lobbyist consultants, in educating government officials on the fact that Excelsior College graduates are as prepared for licensure as nursing graduates from more traditional programs. Time is also spent drafting proposed legislation that would ensure Excelsior College nursing graduates would receive licensure in various states. 0 70300 0 0 X 0 1305245 122904 95509 35615 712 3797 1483534 1131780 181683 25388 28707 -341 5240 1305245 867909 159786 134631 23682 2703 4161 1131780 656693 166939 67248 18859 886 3226 867909 568648 106517 3538 20681 -1878 3207 656693 0 0.83 0.17 0 0 0 3359285 3359285 0 17962154 3703764 14258390 0 728791 289071 439720 0 14176158 10003779 4172379 0 1419780 103101 1316679 23546453 0 Liabilities to beneficiaries under split interest agreements 15383 Deferred Rent 671868 687251 X 106174829 -884269 37080 0 0 -847189 107022018 0 -879971 -879971 106142047 108140933 37080 0 0 0 37080 108103853 0 -879971 -879971 107223882 Schedule D, Part III, Line 4 Consists of various paintings that have been donated to and/or purchased by the college and have been recorded at their appraised fair market value at the time of donation, or cost at time of purchase. This collection aids in fostering a sense of community and appreciation of the arts for students, faculty, and support staff of the college. Schedule D, Part V, Line 1e In accordance with the State of New York Prudent Management of Institutional Funds Act (NYPMIFA), the $712 listed as other expenditures represents the College's transfer of funds related to the appreciation of endowment assets to Unrestricted Net Assets from Temporarily Restricted Net Assets to maintain the corpus of underwater endowment funds. Schedule D, Part V, Line 4 The intended use of the College's endowment is primarily for scholarships which are given to students to defray the cost of degree completion. Schedule D, Part X, Line 2 The College is classified for tax purposes as an organization under Section 501(c)(3) of the Internal Revenue Code, and except for unrelated business income, if any, is exempt from federal income taxes under Section 501(a) of the Code. Therefore, no provision for income taxes is made in the accompanying financial statements. The College follows the FASB guidance regarding accounting for uncertain tax positions. The College believes that it has no uncertain tax positions taken or expected to be taken that could result in an unrecognized tax benefit liability. The College has no federal or state informational tax returns that are currently under examination by the Internal Revenue Service ("IRS") or state authorities. Schedule D, Part XI, Line 4b Includes fundraising expenses ($14,802), rental expenses ($614,556) and loss on disposal of assets ($250,613). Schedule D, Part XII, Line 4b Includes fundraising expenses, rental expenses and loss on disposal of assets. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 Schedule E, Part I, Line 3 The organization meets the criteria established in section 4 03-2 of revenue procedures 75-50. The College draws a substantial percentage of its students nationwide and follows a racially nondiscriminatory policy as to students. It satisfies the publicity requirement by including a statement of its racially nondiscriminatory policy as to students. In all its brochures and catalogs dealing with student admissions, programs, and scholarships. It also references its racially nondiscriminatory policy in other written advertising that it uses as a means of informing prospective students of its programs. Schedule E, Part I, Line 6 The college receives government assistance in the form of: Federal Direct Loans, Pell grants, FSEOG grants, NYS TAP grants, NYS APTS grants, HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The College's participation in the HRSA Nursing Student Loan Program - Baccalaureate Level was revoked on 10/30/13, due to loan default rates above the acceptable maximum (5%). This program is calculated on dollars in default, rather than borrowers in default as is the case in most student loan programs. At the time the program was revoked 5 borrowers were in default with a total loan balance of $6,844 (11.31%). As of June 30, 2016 the College had returned the entire Federal capital contribution and terminated participation in the HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The College continues to honor all existing terms and provisions including those related to cancellation and deferment, to which borrowers are entitled. Europe (including Iceland and Greenland) 0 0 Program Services To visit partners, evaluate partnerships, attend meetings, and attend conferences. 43884 Middle East and North Africa 0 0 Program Services To Visit international partnerships and Israel Study Abroad students and seminaries, and to train a new consultant. 60820 East Asia and the Pacific 0 0 Program Services To explore and evaluate new international partnerships. 20150 South America 0 0 Program Services To visit and meet with international partnerships. 13638 0 0 138492 0 0 0 0 0 0 Schedule F, Part I, Line 3 The accrual basis of accounting is used to account for all foreign expenditures. X X X X X X X 1 Ruffalo Noel Levitz LLC 65 Kirkwood North Road SW Cedar Rapids IA 52404 Phone solicitations 0 70501 60052 10449 The Stelter Company 10435 New York Avenue Des Moines IA 50322 Planned Giving Newsletter Program and Website 0 0 5590 -5590 James Langley 10958 Bloomingdale Drive Rockville MD 20852 Campaign Consulting 0 0 17850 -17850 70501 83492 -12991 NY Partners in Lifelong Learning Scholarship Fundraising Event 79500 73620 5880 0 135 1300 8335 0 5031 0 0 79500 73620 5880 0 135 1300 8335 0 5031 14801 -8921 1 Scholarships 2133 710944 0 Schedule I, Part I, Line 2 The College provides individual scholarship assistance to enrolled students in order to defray the cost of tuition and fees. This assistance is provided through direct credit to the student's account with the college, ensuring funds are utilized for their intended purpose. Depending on the source of funds, there may be donor stipulations which students may need to adhere to in order to maintain eligibility of funds. In the event of such, ongoing monitoring is performed by the College's Financial Aid department. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 John Ebersole President and Chief Executive Officer 429421 0 45000 0 117627 0 87207 0 21173 0 700428 0 0 0 Mary Beth Hanner Provost and Chief Academic Officer 274550 0 0 0 1524 0 26500 0 14968 0 317542 0 0 0 Wayne A Brown VP for IT & Chief Information Officer 248041 0 0 0 276 0 22643 0 2639 0 273599 0 0 0 John M Pontius VP for Finance and Administration 231528 0 5000 0 892 0 23424 0 3373 0 264217 0 0 0 Susan O'Hern VP for Strategy & Institutional Effectiveness 217338 0 5000 0 276 0 22420 0 26131 0 271165 0 0 0 Cathy Kushner Director of Leadership Academy 215266 0 0 0 1524 0 22095 0 20907 0 259792 0 0 0 Christa Montagnino VP for Extended Education 206348 0 10000 0 120 0 21276 0 25154 0 262898 0 0 0 James C Lettko CEO of Excelsior Workforce Institute 199212 0 0 0 15276 0 1856 0 2682 0 219026 0 0 0 James N Baldwin VP and Chief of Staff 212355 0 0 0 792 0 21236 0 396 0 234779 0 0 0 Craig J Maslowsky VP for Enrollment Management 210994 0 0 0 108 0 21779 0 25779 0 258660 0 0 0 Jeanne B Contardo VP for Regional Operations 198999 0 0 0 71 0 14646 0 54 0 213770 0 0 0 Patrick Jones Vice Provost / Interim Co-Dean, School of Liberal Arts 195198 0 4167 0 792 0 18046 0 23909 0 242112 0 0 0 George Timmons Associate Provost of COELAS / Co-dean, School of Liberal Arts 182757 0 4167 0 230 0 18555 0 3611 0 209320 0 0 0 Mary Lee Pollard Dean, School of Nursing 171724 0 5000 0 516 0 17172 0 258 0 194670 0 0 0 Karl Lawrence Dean, School of Business and Tech 168416 0 0 0 276 0 17186 0 17375 0 203253 0 0 0 Jane Leclair Chief Operating Officer of NCI 196668 0 9565 0 817 0 19834 0 9243 0 236127 0 0 0 Robert Waters Dean, School of Public Service 192213 0 0 0 516 0 14669 0 8235 0 215633 0 0 0 Deborah L Sopczyk Dean, School of Health Sciences 171969 0 0 0 1292 0 17046 0 23257 0 213564 0 0 0 Susan A Dewan AVP for Military Education 167905 0 0 0 268 0 14861 0 9933 0 192967 0 0 0 Thomas Dalton AVP for Enrollment Management/Financial Aid 155799 0 0 0 516 0 16187 0 24522 0 197024 0 0 0 Schedule J, Part I, Line 1a In calendar year 2015, the College grossed up taxable wage payments to the President to reimburse the President for taxes incurred related to life insurance benefits. Additionally, in 2015 the college paid social club dues on behalf of the President for business use relating to College matters only, and as such, were not treated as taxable income to him. All personal use of the club was reimbursed to the College. A monthly housing allowance is provided to the President and is included in his taxable wages. The College reimburses a portion of health club dues of its employees as part of the College's wellness initiative policy. This benefit is available to all college employees, and is included in the taxable income of employees who use this benefit, including officers. Schedule J, Part I, Line 4 John Ebersole - 457(f) Supplemental non-qualified retirement plan contribution of $25,000. Miguel Corona Husband of Officer Christa Montagnino 24181 Payments for conducting instruction as an adjunct faculty 0 Form 990, Part VI, Section B, Line 11b The Form 990 was prepared by the accounting services department at the College. The information within the return was obtained through input from several Officers of the College. Following internal preparation of the return, it was forwarded to the College's independent auditors to seek their input before forwarding to the Audit Committee of the Board of Trustees. The Audit Committee reviewed the final return in depth via teleconference with the Officers of the College and the accounting staff. Management at the College guided the Audit Committee through various schedules included in the filing noting the purpose of the schedule and identifying the origin and sources of the content contained within. All questions posed by the Committee were answered by the Management of the College as documented in the minutes to the meeting. The final return was made available for inspection and review to all Board Members before final filing with the IRS. Form 990, Part VI, Section B, Line 12c The College has had a written conflict of interest policy since June, 1998. This policy, as amended in 2014 consistent with the NYS Nonprofit Revitalization Act of 2013, is distributed annually to all Officers, Trustees, and key employees each October. In addition to the policy, all officers, trustees and key employees are required to complete an annual disclosure statement indicating conflicts of interest and any direct or indirect professional and/or business relationships with vendors with whom the College has a professional or business arrangement. Annually, the Audit Committee of the Board meets with General Counsel to review all disclosures and to determine the existence and extent of any conflicts. Should a conflict exist at the Board level, the affected member is recused from any discussion or vote related to the conflict of interest. Conflicts at levels below the Board are disclosed to the CEO, the VP of HR, and General Counsel to determine the impact of the conflict on the employees' ability to function in the affected role and take steps to resolve the conflict. Form 990, Part VI, Section B, Line 14 Financial records are retained in accordance with the College's standard record retention policy. In addition, grant awards, certain mortgage and contractual arrangement require additional retention time frames. Other departments in the College such as the Registrar and Financial Aid offices retain student records as required under federal regulations and agencies guidelines. Form 990, Part VI, Section B, Line 15 Per the College bylaws, the Board is required to from time to time determine the compensation of the President, and approve the compensation of all other officers of the College, which should in all cases be reasonable and commensurate with the services performed by them. In 2010, a comprehensive independent study of the President's compensation was conducted by an external consultant, and was updated again in 2014. This study, commissioned under the direction of the Board of Trustees, looked at comparative data from a competitive pool determined by the external consultant. This study was the basis for the employment contract with the College President, which was approved by the Board of Trustees. This contract is subject to renewal, extension, or termination every three to five years depending on the contract terms by the Board of Trustees. Additionally, the compensation of the President is reviewed annually and any changes are approved by the Executive Committee of the Board of Trustees. Each year the President and the Board agree to annual goals and the President provides monthly reports on the progress toward these goals. His achievements are the basis for an annual performance review conducted by the Executive Committee of the Board. All Board discussions are documented in the Board of Trustee meeting minutes. The President's compensation is, in part, derived from the terms of his contract. The 2014 Executive Compensation study completed by a consultant, discussed in detail below, looked at other college presidents in our list of 22 peer institutions as a comparison. The consultant used the College's most recent year IRS Form 990 and then 'aged' the amounts using industry accepted standards. Any increase of compensation for the President is reviewed by an independent consultant to ensure the resulting compensation is reasonable and compliant with Intermediate Sanctions guidelines according to Treasury Final Regulations Section 53.4958-1. The Office of Human Resources establishes compensation within various grade levels at the College based on several factors such as the current local job market and hiring rate in our area, the demographics of the region including the degree of difficulty and competition in acquiring the particular talent. In addition, a compensation study was performed in 2014 by an external consultant that compared duties, responsibilities, and compensation for all job titles of the college. The study gathered data at the national level as well as industry-specific data and job market information for our region of the country. Salaries within the organization were comparable against this data. In 2014, at the direction of the Board of Trustees, the Office of Human Resources completed an executive compensation survey through a consultant. The study assessed eleven positions and made comparisons to comparable staff positions at 22 similarly situated institutions. The study had two objectives: 1.Determine if current pay levels are commensurate with peer roles at peer institutions, and 2. Ensure that compensation is in line with Section 4958 of the Internal Revenue Code. The results of the survey suggested that the College is in line with respect to Section 4958 of the Internal Revenue Code. Form 990, Part VI, Section C, Line 19 Governing documents, the conflict of interest policy and the financial statements are available upon request in hard copy and electronic (.pdf) form. Form 990, Part IX, Line 11g $255,272 Consultant Honoraria - total $192,035 Program service expenses, $55,455 Management & general expenses, and $7,782 Fundraising expenses; $93,624 Exam Proctoring Fees - total Program service expenses; $1,380,805 Library Costs - total Program service expenses; $9,570,978 Other Contractual Services - total $7,088,549 Program service expenses, $2,450,673 Management & general expenses, and $31,756 Fundraising expenses; $124,296 Recruiting and Onboarding - total $526 Program service expenses and $123,770 Management & general expenses.