2016-05-16T09:32:20-05:00 2015-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-07-01 135562167 BANK STREET COLLEGE OF EDUCATION % Marion Kowalski BANK 2128754400 610 WEST 112TH STREET NEW YORK NY 100251120 MARION KOWALSKI CHIEF FINANCIAL OFFICER 2128754400 2016-05-13 true PHILLIP GROFF P01247783 2127589700 2016-05-13 2014 2016-08-17 19:52:53Z shael polakow-suransky pres 610 WEST 112TH STREET NEW YORK NY 10025 86119720 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. 27 26 1077 26 1597371 -400705 15990160 10756362 40302859 47255105 2713645 2898551 1952146 2000080 60958810 62910098 6265745 6270954 0 0 36828372 39011558 0 0 1399118 14320845 17091720 57414962 62374232 3543848 535866 76708405 74704707 27288137 25751908 49420268 48952799 X See Schedule O. false false 18826832 3344283 22725682 SCHOOL FOR CHILDREN - IN CHILDREN'S PROGRAMS, BANK STREET HAS BEEN SERVING STUDENTS FOR ALMOST 100 YEARS IT DOES SO BY PROVIDING HIGH QUALITY EARLY CHILDHOOD PROGRAMS THROUGH AN ONSITE FAMILY CENTER AND AN INDEPENDENT DEMONSTRATION SCHOOL FOR CHILDREN, AS WELL AS THROUGH ITS 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. 16652548 2926671 21889904 GRADUATE SCHOOL - BANK STREET'S GRADUATE SCHOOL PREPARES OUTSTANDING TEACHERS AND LEADERS IN SCHOOLS, MUSEUMS, AND OTHER EDUCATIONAL SETTINGS. 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 TRAIN EDUCATORS TO FIND WAYS TO MAKE LEARNING VITAL, ACTIVE, AND CREATIVE FOR CHILDREN FROM DIVERSE BACKGROUNDS WHO COME TO THE CLASSROOM WITH THE BROAD RANGE OF LEARNING STYLES. 7163609 0 1961379 INNOVATION, POLICY & RESEARCH - THROUGH OUR INNOVATION, POLICY & RESEARCH BANK STREET HAS FILLED AN ESSENTIAL NICHE IN THE WORLD OF EDUCATION BY FULFILLING FOUR DISTINCTIVE YET MUTUALLY INTERDEPENDENT FUNCTIONS. CREATING CONSTRUCTIVE ENVIRONMENT FOR CHILDREN THROUGH ITS EXCELLENCE IN OUR LIBERTY LEADS AND HEAD START PROGRAMS, BY INFLUENCING POLICY THAT SUPPORTS THE GROWTH AND DEVELOPMENT OF CHILDREN, DEVELOPING EDUCATIVE MATERIALS FOR CHILDREN AND ADULTS AND LASTLY BY MERGING THEORY AND PRACTICE. 2837209 678140 45480198 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 false true true false false false false false false false true true false false false false false false false false true 186 0 true 1077 true true true false false false false true true false false false false X 27 26 false false false false false false false true true false false true true true true true true true true false X Marion Kowalski 2128754475 610 West 112th Street New York NY 10025 X Shael Polakow-Suransky President, BEG 07/01/14 35.0 0.0 X X 168559 0 61049 Anthony Asnes Trustee 1.0 0.0 X 0 0 0 Jay Chakrapani Trustee 1.0 0.0 X 0 0 0 Tiffani Chambers Trustee 1.0 0.0 X 0 0 0 Suzanne Childs Trustee 1.0 0.0 X 0 0 0 Jonathan Cole Trustee 1.0 0.0 X 0 0 0 Dr Bettye R Fletcher Comer Trustee 1.0 0.0 X 0 0 0 Tom Fennimore 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 Sarah Gund Trustee 1.0 0.0 X 0 0 0 Victoria Hamilton Trustee 1.0 0.0 X 0 0 0 Sue Kaplan Trustee 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 Christopher Mayer Trustee 1.0 0.0 X 0 0 0 Joel H Moser Trustee 1.0 0.0 X 0 0 0 Michael T Nettles Trustee 1.0 0.0 X 0 0 0 Dr Laura Parsons Trustee 1.0 0.0 X 0 0 0 Elizabeth S Pforzheimer Trustee 1.0 0.0 X 0 0 0 Sandra Pinnavaia Trustee 1.0 0.0 X 0 0 0 Anne V Shutkin Trustee 1.0 0.0 X 0 0 0 Howard S Stein Trustee and Treasurer 1.0 0.0 X X 0 0 0 Lynn G Straus Trustee and Vice Chair 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 Kate R Whitney Trustee and Secretary 1.0 0.0 X X 0 0 0 Debbie Zlotowitz Trustee 1.0 0.0 X 0 0 0 Justin Tyack Vice President, Strategy & Ops 35.0 0.0 X 64441 0 4069 Frank Nuara CHIEf Adm. Off., THRU 06/30/15 35.0 0.0 X 238975 0 20740 Norman Walker Int. VP Fin/Adm, THR. 12/15/14 35.0 0.0 X 163043 0 9177 Marion Kowalski Chief Financial Officer 35.0 0.0 X 21330 0 337 Alexis Wright Dean, School for Children 35.0 0.0 X 330261 0 45744 Virginia Yukins Dean, Graduate School 35.0 0.0 X 237060 0 22389 John Borden Vice President, DERO 35.0 0.0 X 213623 0 31985 Barbara Coleman Asso. Dean/Int. Dean, GRAD sch 35.0 0.0 X 170377 0 18138 Jackson Kytle Interim Dean, ipr 35.0 0.0 X 172096 0 9330 David Strum Interim Vice President, IT 35.0 0.0 X 195023 0 14886 Stanlee Brimberg Coordinator 35.0 0.0 X 156010 0 35114 Faith Lamb-Parker Co-Director 35.0 0.0 X 147136 0 9284 Olga Romero-Rothenberg Chair, Graduate School 35.0 0.0 X 144357 0 9945 Rima Shore Chair, Weisman Center 35.0 0.0 X 144066 0 9512 Kenneth Grover Chair, Graduate School 35.0 0.0 X 139764 0 9624 Elizabeth Dickey former officer 0.0 0.0 X 367009 0 89235 3073130 0 400558 47 true true false MACRO CONSULTANTS LLC 1040 AVE OF THE AMERICAS 15TH FLOO NEW YORK NY 100184796 engr/prg mgmt conslt 282500 KILICASLAN REBECCA DBA RL MIGDAL CREATIVE 385 LOOKOUT HACKENSACK NJ 07601 comp & adv. servs 153290 EASTMAN COOKE ASSOCIATES LLC 20 WEST 22ND STREET SUITE 815 NEW YORK NY 10010 CONSTRUCTION 142258 PECHEONE RAYMOND 1160 WELCH ROAD APT 636 PALO ALTO CA 94304 CONSULTING 135000 ERNST YOUNG LLP 50 ROWES WHARF BOSTON MA 02110 FINANCIAL ANALYSIS 100000 5 X 641860 6528931 3585571 90578 10756362 tuition and fees 611600 39917782 39917782 auxilliary activities 722320 678140 678140 PROFESSIONAL DEV. AND EDUCATION 611430 6659183 6659183 47255105 879917 879917 0 26476 26476 12594 12594 0 12594 12594 21746995 19728361 2018634 2018634 2018634 75283 163457 -88174 -88174 0 4915175 3317804 1597371 1597371 Other income 900099 451813 451813 451813 62910098 47706918 1597371 2849447 0 6270954 6270954 0 0 2733303 612493 1854465 266345 0 27800741 21438649 5831502 530590 1471341 1134630 308630 28081 4718406 3638618 989737 90051 2287767 1764221 479884 43662 0 123203 510 122693 280060 44000 236060 84000 84000 0 286012 286012 6065992 4196411 1626014 243567 269235 96875 172360 1594642 1068383 471423 54836 329758 61675 267191 892 0 2783006 1729999 1037911 15096 338645 240937 93855 3853 0 1532102 1264359 184724 83019 147467 76433 71034 0 1882047 1028741 853306 388423 126091 262332 Bank Fees 321179 280044 7413 33722 Membership Fees 107103 47823 55835 3445 Other Expenses 558846 358352 198535 1959 62374232 45480198 15494916 1399118 14499796 9872275 1201141 2330993 7148195 6294711 1268514 3633374 0 0 0 0 30091 28383 539494 253936 1540548 1430020 39979881 25782913 13215790 14196968 35616074 35513489 0 0 401057 402642 0 0 1247705 747916 76708405 74704707 6328960 5566009 0 0 8435784 8618367 3107015 2645878 0 0 0 0 0 0 0 0 9416378 8921654 27288137 25751908 X 19364612 18598450 11826650 11271858 18229006 19082491 49420268 48952799 76708405 74704707 X 535866 -2188477 1185142 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false false false true 84000 84000 false OTHER ACTIVITIES FORM 990, SCHEDULE C, PART 11-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 $84,000 TO LOBBYING CONSULTANTS DURING THE YEAR ENDED JUNE 30, 2015. 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). SEVERAL OF THESE ORGANIZATIONS ALLOCATE A PORTION OF THE ANNUAL DUES TO LOBBYING EFFORTS AND INFORM THE COLLEGE OF THE NON-DEDUCTIBLE PORTION OF ITS DUES IN AN ANNUAL LETTER. TO DATE, THE COLLEGE HAS NOT RECEIVED THE REQUIRED LETTERS, AND THEREFORE, NO DOLLAR DISCLOSURE IS INCLUDED IN SCHEDULE C. BASED ON PRIOR YEAR AMOUNTS, THE COLLEGE IS CONFIDENT THAT THE ALLOCABLE PORTION OF ITS DUES ALLOCATED TO LOBBYING ACTIVITIES IS BELOW $10,000. 23899132 942919 200903 370094 402800 24270060 19592862 2077672 2561418 162543 170277 23899132 17635378 1118828 1367565 528909 19592862 14439505 2939550 562190 305867 17635378 13038031 135922 1893241 627689 14439505 0.03760 0.78626 0.17614 false false 767580 767580 13070544 8630453 4440091 18130345 10390366 7739979 4739795 4351663 388132 3271617 2410431 861186 14196968 0 POSTRETIREMENT HEALTH BENEFIT PLAN 7804847 CONDITIONAL ASSET RETIREMENT OBLIG 495020 REFUNDABLE GOVERNMENT LOAN PROGRAM 621787 8921654 X 57555238 -2188477 -6270954 -8459431 66014669 283162 -3387733 -3104571 62910098 58022707 2202591 2202591 55820116 283162 6270954 6554116 62374232 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 OR QUASI 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 2015 OR 2014. reconciliation of revenue form 990, schedule d, part xi line 2, d - $(6,270,954) Tuition discounts and scholarships line 4, b - $(3,317,804) Cost of goods sold including expenses on financial $(157,221) Tuition reimbursements included in part ix $(163,457) direct costs of fundraising events included as expenses on financial $250,749 Provision for uncollectible contributions ---------- $(3,387,733) Total reconciliation of expenses form 990, schedule d, part xii line 2, d - $3,317,804 cost of goods sold included in part viii $157,221 tuition reimbursement included in part viii $163,457 special event expense included in part viii $(1,185,142) adjustment for post retirement health benefits $(250,749) provision for uncollectible contributions ------------ $,2,202,591 total line 4, b - $6,270,954 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. Middle East and North Africa Program Services professional dev. 100143 East Asia and the Pacific Program Services professional dev. 33753 Europe (Including Iceland and Greenland) Program Services professional dev. 20000 Sub-Saharan Africa Program Services professional dev. 125750 279646 279646 false false false false false true Ann Trstee dinr 717143 641860 75283 141714 21743 0 717143 641860 75283 141714 21743 163457 -88174 true scholarships 585 6270954 GRANT ELIGIBILITY & MONITORING SCHEDULE I, PART 1, LINE 1 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 THE COST OF TUITION, NO FURTHER MONITORING OF THE SCHOLARSHIPS IS REQUIRED. X true true X X X false true false false false false false false false Shael Polakow-Suransky President, BEG 07/01/14 168559 0 0 0 0 0 25625 0 35424 0 229608 0 0 0 Elizabeth Dickey former officer 358429 0 0 0 8580 0 76795 0 12440 0 456244 0 0 0 Frank Nuara CHIEf Adm. Off., THRU 06/30/15 238975 0 0 0 0 0 18190 0 2550 0 259715 0 0 0 Norman Walker Int. VP Fin/Adm, THR. 12/15/14 163043 0 0 0 0 0 4508 0 4669 0 172220 0 0 0 Alexis Wright Dean, School for Children 276062 0 0 0 54199 0 17875 0 27869 0 376005 0 0 0 Virginia Yukins Dean, Graduate School 217060 0 0 0 20000 0 16889 0 5500 0 259449 0 0 0 John Borden Vice President, DERO 213623 0 0 0 0 0 17243 0 14742 0 245608 0 0 0 Barbara Coleman Asso. Dean/Int. Dean, GRAD sch 170377 0 0 0 0 0 13204 0 4934 0 188515 0 0 0 Jackson Kytle Interim Dean, ipr 172096 0 0 0 0 0 9330 0 0 0 181426 0 0 0 David Strum Interim Vice President, IT 195023 0 0 0 0 0 12386 0 2500 0 209909 0 0 0 Stanlee Brimberg Coordinator 150452 0 0 0 5558 0 11966 0 23148 0 191124 0 0 0 Faith Lamb-Parker Co-Director 147136 0 0 0 0 0 9284 0 0 0 156420 0 0 0 Olga Romero-Rothenberg Chair, Graduate School 144357 0 0 0 0 0 9945 0 0 0 154302 0 0 0 Rima Shore Chair, Weisman Center 144066 0 0 0 0 0 9512 0 0 0 153578 0 0 0 HOUSING ALLOWANCE SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE - THE COLLEGE PROVIDES HOUSING ALLOWANCES TO THE DEAN OF SCHOOL FOR CHILDREN, ALEXIS WRIGHT AND THE DEAN OF THE GRADUATE SCHOOL, VICTORIA ROACH YUKINS. THE ALLOWANCES ARE TREATED AS A TAXABLE FRINGE BENEFIT AND INCLUDED ON THEIR FORMS W-2. FOR THE YEAR ENDING DECEMBER 31, 2014, THE ALLOWANCES TOTALED $24,000 AND $20,000 RESPECTIVELY. The College provided housing to the President, Shael Polakow-Suransky. The housing was for the convenience of the college and treated as a nontaxable benefit. The provided housing was not included in the President's Form W-2. non-qualified retirement plan SCHEDULE J, PART I, LINE 1A AND 4B THE COLLEGE HAS made contributions to a non-qualified deferred compensation plan UNDER SECTION 457(F) of the internal revenue code FOR POST-RETIREMENT HEALTH CARE costs of ITS former PRESIDENT, ELIZABETH DICKEY. ms. dickey will be fully vested in the plan upon retirement at which time the deferred compensation will be paid TO MS. DICKEY as soon as administratively practicable. MACRO CONSULTANTS LLC SUBSTANTIAL CONTRIBUTOR 201628 ENGR/PRG MGMT CONSLT false X 13 90578 See Part II false true false number of contributors 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, RESEARCH AND POLICY INITIATIVES, FAMILY CENTER SERVICES AND CHILDCARE 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 EDUCATIONAL 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 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 january 2014. 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 $1,185,142 ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN 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, 2015. 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