2016-02-15T10:43:13-07:00 2015-06-30 990 2014-07-01 150532239 St Lawrence University STLA 3152295563 23 Romoda Drive Canton NY 13617 Joseph Manory Vice President for Finance 3152295897 2016-02-15 2014 2016-08-17 19:52:53Z William Fox 23 Romoda Dr Canton NY 13617 196273820 0 X www.stlawu.edu X 1856 NY The mission of St. Lawrence is to provide an inspiring and demanding undergraduate education in liberal arts to students selected for their seriousness of purpose and intellectual promise 37 35 2630 1160 4467201 231355 14025582 12498132 146116371 150978308 6455653 5814977 1286886 1304639 167884492 170596056 58183156 60113873 0 0 62569198 64093408 348000 72086 5274901 51335423 55745433 172435777 180024800 -4551285 -9428744 493989883 486694891 142743082 138372437 351246801 348322454 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. 0 0 156794202 60113873 147995050 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 2,500 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 156794202 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 0 0 1 3 0 1 2630 1 1 1 1 FR KE SP UK 0 0 0 1 1 0 0 0 0 0 0 0 X 37 35 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK MD MI ND NH NY SC WA X Joseph Manory 3152295897 23 Romoda Drive Canton NY 13617 William Fox President 40 0 X X 382856 0 120260 Jo Ann Campbell Trustee 2 0 X 0 0 0 Johnathon Cardinal Trustee 2 0 X 0 0 0 Andre Couture Trustee 2 0 X 0 0 0 William Crombie Trustee 2 0 X 0 0 0 Jennifer Curley Reichert 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 Eric Hanson Trustee 2 0 X 0 0 0 Zhihong Huang 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 David MacAllaster Trustee 2 0 X 0 0 0 Patrick Martin 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 Derrick Pitts Trustee 2 0 X 0 0 0 Michael Ranger Trustee 2 0 X 0 0 0 Tzveta Raynova Trustee 2 0 X 0 0 0 Thomas Saddlemire 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 Michael Arpey Trustee 2 X 0 0 0 Earl Samson Trustee 2 X 0 0 0 George Cochran Trustee 2 0 X 0 0 0 Joan Corey Trustee 2 0 X 0 0 0 Jeffery Boyd Chairman 2 0 X 0 0 0 Barry Phelps Vice Chair 2 0 X 0 0 0 Lisa Cania Secretary 40 X 167724 0 23633 Joseph Manory Treasurer 40 X 197947 0 25012 Val Lehr VP Academic Affairs 40 X 205384 0 27605 Justin Sipher VP Information Tech 40 X 177694 0 31482 Jeff Rickey VP Admissions 40 X 179393 0 51000 Joe Tolliver VP Student Affairs 40 X 169168 0 44052 Tom Pynchon VP Advancement 40 X 196272 0 48738 Greg Carvel Hockey Coach 40 X 152064 0 28967 Theresa Simoni Director of Contracts and Risk Management 40 X 161431 0 6018 Margie Strait Athletic Director 40 0 X 160566 0 29061 Carol Gable Assoc VP for Finance 40 X 133785 0 57005 Godwin O Udechukwu Professor 40 X 132671 0 26393 2416955 0 519226 66 0 1 0 Cambridge Associates LLC 100 summer St Boston MA 02110 investment management 409265 Bond Schoeneck & King One Lincoln Center Syracuse NY 13202 legal services 218505 The Bonadio Group 171 Sully Trail Sutie 201 Pittsford NY 14534 auditing 135988 Relph Benefit Advisors 22113 Fabco Rd Watertown NY 13601 employee benefit consulting 130460 Bentz Whaley Flessner 7251 Ohms Lane Minneapolis MN 55439 campaign consulting and feasibility study 142264 5 0 0 0 0 1677702 10820430 1547690 12498132 Tuition 611310 115417683 115417683 0 0 Campus Housing 721000 14511053 14511053 0 0 Food Service 722210 12266851 12266851 0 0 Hotel 721110 3770553 350695 3419858 0 Other 611710 4639066 4356032 283034 0 373102 0 373102 0 150978308 3670166 0 41215 3628951 0 0 0 0 0 0 0 0 0 0 26058595 0 23913784 0 2144811 0 2144811 0 138089 2006722 0 3058619 1763980 1294639 1092736 201903 0 Advertising 900099 10000 0 10000 0 0 0 0 0 10000 170596056 147995050 4467201 5635673 0 60113873 60113873 2488981 1047005 1106619 335357 47124507 40124957 4846529 2153021 4064834 3446820 411781 206233 6952320 5919670 715013 317637 3462766 2936289 350790 175687 372433 357160 15273 140317 7932 132385 72086 72086 3165721 3165721 4453493 2797673 1484836 170984 194055 112691 81364 7220075 6117036 679058 423981 1594598 826693 766010 1895 5578779 5352691 222682 3406 3319908 2838548 246382 234978 171620 108628 52282 10710 3990552 3990552 11020170 9209515 1271243 539412 617859 85213 486111 46535 Other Contract Services 8808541 7780660 870422 157459 R&B Allowance 2200618 2191355 7622 1641 Entertainment 1143149 438108 297050 407991 Other 1753545 1348293 404637 615 0 0 0 0 180024800 156794202 17955697 5274901 572932 485419 8994504 7031281 12732241 13653830 3018178 2314759 3302505 4188942 1858745 1887394 2876187 2508693 330108759 162603616 167033567 167505143 97340476 96404291 196260548 190715139 493989883 486694891 12591271 11600768 3359627 3207761 97775000 95155000 800000 1875000 28217184 26533908 142743082 138372437 X 112144250 108292773 120038885 117262822 119063666 122766859 351246801 348322454 493989883 486694891 X -9428744 4091241 0 0 0 2413156 X 1 X 1 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 35395 0 1 1 79511 5480317 0 0 X X X 0 283875717 2685638 10903634 5934747 6278943 3165721 282085578 251421388 3093449 43696206 5903158 5926788 2505380 283875717 230276122 2040143 32726040 5232475 5872853 2515589 251421388 239821954 5400799 -2991616 5287292 5741809 925914 230276122 204360000 7099602 41224170 5672492 6216839 972487 239821954 0.24 0.41 0.35 0 0 2662483 0 2662483 273017894 0 129256423 143761471 0 0 0 0 54428382 0 33347193 21081189 0 0 0 0 167505143 0 0 mutual funds and limited partnerships 190715139 F 190715139 0 Annuities and Deferred Giving Obligations 3930688 Federal Student Loans 2981064 Accrued pension and postretirement benefits 4410038 Capital lease 1944529 Conditional Asset Retirement Obligation 4361622 Fair Value of Swap Agreement 2384793 Unamortized Premium/Discount 6521174 26533908 X 176451277 4091241 0 0 1763980 5855221 170596056 0 0 0 170596056 121674907 0 0 0 1763980 1763980 119910927 0 60113873 60113873 180024800 Schedule D, Part III, Line 4 St. Lawrence University's permanent collection provides students, faculty, scholars, and a broad regional community the opportunity to study and enjoy original works of art. The collection includes nearly 7,000 art objects and artifacts, with particular strengths in twentieth century American and European works on paper, including photographs, prints, portfolios, drawings, and artists' 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 For tax exempt entities, the University's tax exempt status itself is deemed to be an uncertainty, since events could potentially occur to jeopardize their tax exempt status. As of June 30, 2015 and 2014, the University did not have a liability for uncertain tax positions. the University files tax returns in the U.S. federal jurisdiction and New York State. Schedule D, Part XI, Line 2d Bookstore Cost of Goods Sold 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, 2015, the university received $438,494 for the Higher Education Opportunity and C-Step Programs, $164,820 for the Bundy Aid Program, and some smaller amounts for research projects. The university also received $266,813 from the federal Department of Education for the McNair Program and smaller federal awards. The university receives 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 616915 Europe (including Iceland and Greenland) 3 6 Program Services education abroad programs 2312159 4 22 2929074 financial aid East Asia and the Pacific 61 794992 credited to bill financial aid Central America and the Caribbean 5 96122 credited to bill financial aid Europe (including Iceland and Greenland) 166 2132135 credited to bill financial aid Middle East and North Africa 4 81782 credited to bill financial aid Sub-Saharan Africa 32 353934 credited to bill financial aid South Asia 10 148300 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 shared with the university's audit committee of the Board of Trustees. X X X X X X X 1 Bentz Whaley Flessner and Associates Inc 7251 Ohms Lane Minneapolis MN 55439 The university hired this firm to provide campaign counsel and feasibility studies to include advising on fundraising goals and strategies, staffing, and leadership organization and recruitment 0 0 72086 -72086 McAllister and Quinn 1368 N Washington Ave Scranton PA 18509 This firm was hired to assist the university in generating additional revenues from grants awarded by foundations and government agencies. 0 0 52132 -52132 0 124218 -124218 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY 1 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 2306 60113873 0 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 374250 0 0 0 8606 0 93500 0 26760 0 503116 0 0 Joseph Manory Treasurer 162922 0 22000 0 13025 0 17500 0 7512 0 222959 0 0 0 Lisa Cania Secretary 165625 0 0 0 2099 0 16562 0 7071 0 191357 0 0 0 Val Lehr VP Academic Affairs 203991 0 0 0 1393 0 20668 0 6938 0 232990 0 0 0 Justin Sipher VP Information Tech 175474 0 0 0 2220 0 18242 0 13240 0 209176 0 0 0 Jeff Rickey VP Admissions 177659 0 0 0 1734 0 18100 0 32899 0 230392 0 0 0 Joe Tolliver VP Student Affairs 166000 0 0 0 3168 0 16600 0 27451 0 213219 0 0 0 Tom Pynchon VP Advancement 193719 0 0 0 2553 0 20273 0 28465 0 245010 0 0 Greg Carvel Hockey Coach 149283 0 0 0 2781 0 15775 0 13192 0 181031 0 0 0 Theresa Simoni Director of Contracts and Risk Management 134425 0 15000 0 12006 0 0 0 6018 0 167449 0 0 Margie Strait Athletic Director 157612 0 0 0 2954 0 16678 0 12383 0 189627 0 0 0 Carol Gable Assoc VP for Finance 133321 0 0 0 464 0 13957 0 43048 0 190790 0 0 Godwin O Udechukwu Professor 132046 0 0 0 625 0 14065 0 12328 0 159064 0 0 0 Schedule J, Part I, Line 1a 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 Creating Writing, the president, and two members of senior staff. 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 Creating Writing, the president, and two members of senior staff. Social club dues and personal services are provided to the president as described in his employment agreement. Schedule J, Part II Non taxable 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. Pynchon and Ms. Gable include the value of tuition exchange for dependents. A St Lawrence County IDA Civic Dev Bonds 272614310 791078AZ1 2012-12-19 46819980 advance refund NYS Dorm Auth 2008 bonds 0 0 0 B NYS Dorm Authority Bonds 2008 Series 146000293 649903X55 2008-07-17 47950000 campus renovations and advance refund 1998 Series 1 0 0 C St Lawrence County IDA Civic Fac Rev Bonds 160991283 791097EH7 2005-12-07 20850000 construct new science center 0 0 0 A 150000 0 46819980 0 47807706 547374 0 0 0 299555 2012 0 1 1 1 B 1155000 46795000 47950000 247573 0 598867 79916 10121674 286643 2012 1 0 1 1 C 8905000 0 20850000 0 0 410065 295000 20006689 138246 2007 0 0 1 1 A 0 0 0 0 0.0219 0.0133 0.0352 0 0 0 B 0 0 1 1 0 0.0228 0.0129 0.0357 1 0 0 C 0 1 0 0 0 0 0 0 0 0 A 0 1 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 C 0 0 0 1 0 0 0 0 0 Schedule K, Part IV, Line 2c-12/19/2012 46,819,980 St Lawrence County IDA Civic Dev Bonds Computation performed January, 2015 Schedule K, Part IV, Line 2c-07/17/2008 47,950,000 NYS Dorm Authority Bonds 2008 Series calculation last performed July, 2014 and no longer required as bonds were redeemed July, 2014. Schedule K, Part IV, Line 2c-12/07/2005 20,850,000 St Lawrence County IDA Civic Fac Rev Bonds 12/7/2005 $20,850,000 St. Lawrence County IDA Civic Fac Rev Bonds converted in 2009 to fixed rate bonds. - calculation performed November, 2015 Northland Associates James Tyler is Trustee and owner of Northland Associates 2443763 construction costs 0 Diamond Castle Michael Ranger is Trustee and patner in Diamond Castle 123677 Year end value of investment holdings 0 John and Judy Angelo investment manager and donor 11862126 Year End Value of Investments 0 Lynn Fox Spouse of organization's president 33517 consulting compensation and travel expenses 0 Schedule L, Part IV In the fiscal year 2013, the university solicited proposals for construction of a new residence hall. After careful review by senior management and the board, Northland Associates was selected as general contractor for the project. Trustee James Tyler, president and owner of Northland, recused himself from the board's discussion. This was a guaranteed maximum contract and the total amount paid to Northland for the construction of the new residence hall, was $12,600,000. During construction, the university decided to renovate the quad which abuts the hall and awarded the contract to Northland as they were already onsite. Again, Mr. Tyler recused himself from the board's deliberations and decision. Total amount paid to Northland for the quad renovation were $1,200,000. Northland Associates made a contribution of $50,000 to the university during the year ended 6/30/15. Several years ago, the university investment committee committed $5,000,000 to the private equity fund Diamond Castle, L.P. of which current trustee Michael Ranger, is a general partner. He was not a trustee when the university first invested with Diamond Castle. Two years ago, the investment committee elected to liquidate its investment in Diamond Castle and funds are being received over time. The remaining value of its investment in Diamond Castle at 6/30/15 was $123,677. The Ranger Family Chartable Trust donated $50,000 to the university during the year ended 6/30/15. The university has long held investments with Angelo Gordon and the 6/30/15 value of such investments was $11,862,126. John Angelo is co-owner of Angelo Gordon and both he and his wife are alumni of the university. Mr. Gordon's wife made a contribution of $200,000 through her charitable trust in the year reported. The university paid the president's spouse, Lynn Fox, $20,400 in consulting fees and associated travel expenses of $13,117 during the fiscal year reported pursuant to a contract. The contract was reviewed and approved by the independent members of the Compensation Committee of the Board of Trustees. The president pledged a contribution of $29,854 to the university during the fiscal year ended 6/30/15. X 2 42950 appraised FMV X 25 1131554 appraised FMV X Horses 3 130000 appraised value X Life Insurance Policy 1 20860 Cash Surrender Value X Pledges and Other 37 1027808 estimated value X Hosted Event at Fairmont in Washington DC 1 20000 cost of event 3 0 1 0 Form 990, Part VI, Section A, Line 2 Trustee Cheryl Grandfield is owner of investment firm Grandfield and Dodd which manages an investment portfolio for Trustees Mike Ranger and David Officer. Grandfield and Dodd employ brokerage services from the firm of MacAllaster Pitfiled of which Trustee David MacAllaster is an owner. 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 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 drop of 25 liberal arts colleges. This includes a comparative review of salaries and benefits. The renumeration of the president, vice presidents, 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 by-laws, financial statements, and conflict of interest policy are available on the university's website. Form 990, Part XI, Line 9 Loss on Swap 242,914; Contributions for LT Investment 2,996,554; Deferred Giving Activity 451,218; Change in postretirement liability -990,475; Workers Comp Trust Proceeds 198,722; Laurentian Properties LLC 23 Romoda Dr Canton NY 13617 200803478 hotel and restaurant NY 3770553 3519902 St Lawrence University St Lawrence University London Programme 81 Gower St London UK WC1E6HJ study abroad program for university students UK 501(c)(3) 2 St Lawrence University 0 St Lawrence University Kenya Program PO Box 43795-00100 Karen, Nairobi KE study abroad program for university students KE 501(c)(3) 2 St Lawrence University 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 0 1 1 St Lawrence University London Programme r 930621 A budget is determined at the start of the fiscal year and funds are transferred each month as needed to support operating expense for the program in London. St Lawrence University Kenya Program r 620967 A budget is determined at the start of the fiscal year and funds are transferred each month as needed to support operating expense for the program in Kenya. Schedule R, Part I St. Lawrence University provided a loan to Laurentian Properties LLC 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 maximum amount of the loan agreement is $3.5 million and the interest rate is Libor plus 140 basis points.