2015-05-15T12:34:37-05:00 2014-06-30 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 100172013 990 2013-07-01 141442493 Marist College % JOHN PECCHIA CFO VP OF BA MARI 8455753000 3399 North Road Suite Poughkeepsie NY 12601 JOHN PECCHIA CHIEF FINANCIAL OFFICER 8455753000 2015-05-14 true Daniel Romano P00504182 8455753000 2013 2016-04-25 22:37:26Z Dennis J Murray President 3399 North Road Poughkeepsie NY 12601 456755526 false X marist.edu X 1946 NY MARIST IS DEDICATED TO HELPING STUDENTS DEVELOP THE INTELLECT, CHARACTER AND SKILLS REQUIRED FOR ENGLIGHTENED, ETHICAL, AND PRODUCTIVE LIVES IN THE GLOBAL COMMUNITY. 31 30 3751 242 310315 -8213 12689352 12607735 197631366 210576116 15071306 48077724 3521623 4235132 228913647 275496707 43525302 48233645 0 0 86792438 92015408 0 0 2126100 64861634 67872764 195179374 208121817 33734273 67374890 517047632 567129243 147629812 142891721 369417820 424237522 X MARIST COLLEGE ("MARIST") IS A COMPREHENSIVE, LIBERAL ARTS-BASED INSTITUTION WITH ITS 168 ACRE MAIN CAMPUS IN THE HUDSON RIVER VALLEY OF NEW YORK; A BRANCH CAMPUS IN FLORENCE, ITALY; THE RAYMOND A. RICH INSTITUTE FOR LEADERSHIP DEVELOPMENT IN ESOPUS, NY; EXTENSION CENTERS THROUGHOUT NEW YORK; AND EDUCATIONAL OFFERINGS AROUND THE WORLD THROUGH ITS ONLINE PROGRAMS. MARIST IS DISTINGUISHED BY ITS HIGH- QUALITY FACULTY, INNOVATIVE PROGRAM OFFERINGS, BEAUTIFUL CAMPUS, AND A TECHNOLOGICAL PLATFORM THAT IS COMPARABLE TO THE BEST RESEARCH UNIVERSITIES IN THE WORLD. FOR THE 11TH YEAR IN A ROW, MARIST WAS NAMED ONE OF "THE 378 BEST COLLEGES" IN AMERICA BY THE PRINCETON REVIEW, WHICH ALSO NAMED MARIST'S SCHOOL OF MANAGEMENT ONE OF "THE TOP 295 BUSINESS SCHOOLS". IN ADDITION, KIPLINGER'S PERSONAL FINANCE MAGAZINE AGAIN NAMED MARIST ONE OF THE "BEST VALUES" IN PRIVATE COLLEGE EDUCATION IN THE U.S. MARIST WAS NAMED TO THE LIST BECAUSE IT OFFERS A HIGH-QUALITY COMPREHENSIVE EDUCATION AT A REASONABLE false false 162132695 48233645 168850236 Marist College is a highly selective, comprehensive liberal arts-based institution noted for its leadership in the use of technology in and out of the classroom. Marist is chartered by the State of New York and fully accredited by the Middle States Commission on Higher Education (MSCHE). Marist's student body is comprised of 5,566 undergraduate students and 799 graduate students with 44 bachelor's programs, 12 master's programs and 21 certificate programs. Founded in 1929, Marist's 228-acre campus overlooks the Hudson River in the heart of the historic Hudson Valley and is situated midway between New York City and Albany, the state capital. What started as a school for the training of future Marist Brothers has developed into one of the most selective colleges in the nation. Marist is ecumenical in character and reflects the ideals of the Marist Brothers' founder, St. Marcellin Champagnat: commitment to excellence in education, the importance of community, and dedication to the principle of service. Marist is dedicated to the development of the whole person in a way that will prepare our graduates to lead enlightened, ethical, and productive lives in the global community of the 21st century. 29625374 41725879 Marist College provides a variety of auxiliary services to both its students and employees in support of its educational mission. As part of the student experience, Marist offers a variety of college housing to over 3,200 students in corridor, suite, apartment, and townhouse-style residences. The residential life program at Marist is based upon the philosophy of providing students with a safe, healthy, and attractive living-learning environment that supports and supplements the educational mission of the College. Students are housed using a "rites of passage" philosophy, which recognizes that a student's development should be supported by his/her living environment. Another large auxiliary function includes food service through both a resident and retail dining program. The resident dining operation provides food on a daily basis to over 1,500 participants. The campus's six retail cafes, catering to an additional 1,800 participants, offer a wide selection of hot and cold drinks, soups, salads, sandwiches, and snacks. The campus dining experience is focused on culinary expertise, fresh local and regional ingredients, healthy options, and a shared sense of environmental and social responsibility. Other campus auxiliary services include a bookstore, computer store, and a campus/community debit card account known as Marist Money. Throughout all of the College's auxiliary services, an emphasis is placed on promoting sustainable practices where applicable and include, but are not limited to, educating faculty, staff, and students about the impact of their actions on the environment; identifying, establishing, and publicizing sustainability principles, goals, and best practices; providing a framework for guiding sustainable procedures, programs, and initiatives; and monitoring and reporting progress on campus sustainability initiatives. 191758069 true true false false false false false true false true true false false false true true false true true true true false false false true true false true true true true false false false false false true false false false false true true false false true true true true false false true 6816 1 true 3751 true true true true SP FR IT false false false true true false false false false X 31 30 false false false false false false false true true false true true true true true true true true true true false X X JOHN PECCHIA CFO VP OF BA 8455753000 3399 NORTH ROAD POUGHKEEPSIE NY 12601 ROBERT R DYSON TRUSTEE 1.0 X 0 0 0 ELLEN M HANCOCK CHAIR 1.0 X X 0 0 THOMAS J WARD TREASURER 1.0 X X 0 0 ROSS A MAURI VICE CHAIR 1.0 X X 0 0 ELIZABETH M WOLF ASSISTANT SECRETARY 1.0 X X 0 0 JAMES A CANNAVINO TRUSTEE 1.0 X JAMES M BARNES TRUSTEE 1.0 X JAMES R BARNES SECRETARY 1.0 X X TIMOTHY G BRIER TRUSTEE 1.0 X BRENDAN T BURKE TRUSTEE 1.0 X GERARD E DAHOWSKI TRUSTEE 1.0 X MARK V DENNIS TRUSTEE 1.0 X MICHAEL C DUFFY TRUSTEE 1.0 X STEVEN EFFRON TRUSTEE 1.0 X MICHAEL G GARTLAND TRUSTEE 1.0 X DR STANLEY E HARRIS TRUSTEE 1.0 X DANIEL G HICKEYSR TRUSTEE 1.0 X JAMES P HONAN TRUSTEE 1.0 X PATRICK M LAVELLE TRUSTEE 1.0 X CHRISTOPHER G MCCANN TRUSTEE 1.0 X GENINE MCCORMICK TRUSTEE 1.0 X JOHN P O'SHEA TRUSTEE 1.0 X PATRICE M CONNOLLY PANTELLO TRUSTEE 1.0 X BRO SEAN SAMMON TRUSTEE 1.0 X TIM TENNEY TRUSTEE 1.0 X DR DENNIS J MURRAY PRESIDENT 50.0 X X 730253 152658 LISA CATHIE TRUSTEE 1.0 X SUSAN COHEN TRUSTEE 1.0 X LAURI DEJONG TRUSTEE 1.0 X BRO JOHN KLEIN TRUSTEE 1.0 X SURESH KOTHAPALLI TRUSTEE 1.0 X DRGEOFFREY L BRACKETT EXECUTIVE VP 50.0 1.0 X 344922 82923 JOHN PECCHIA VP BUSINESS AFFAIRS/CFO 50.0 1.0 X 253598 27267 SEAN P KAYLOR VP ADMISSION & ENROLLMENT 50.0 X 245446 49249 DR THOMAS WERMUTH VP ACAD AFFAIR DEAN OF FACULTY 50.0 X 264766 38040 DEBORAH A DICAPRIO VP/DEAN OF STUDENT AFFAIRS 50.0 X 213291 45911 WILLIAM T THIRSK VP & CHIEF INFORMATION OFFICER 50.0 X 222966 32538 CHRISTOPHER DELGIORNO VP COLLEGE ADVANCEMENT 50.0 X 218233 37443 DR JOHN RITSCHDORFF ASSOC.VP OF ACADEMIC AFFAIRS 50.0 X 188341 38129 JOSE MARTIN MEN'S BASKETBALL COACH 50.0 X 219693 38480 DR ROGER NORTON DEAN, SCHOOL OF SCIENCE & MATH 50.0 X 224367 41947 brian giorgis women's basketball coach 50.0 X 186299 50961 DR LEE MIRINGHOFF DIRECTOR OF MIPO 50.0 X 263639 39825 DR BARBARA CARVALHO DIRECTOR OF MARIST POLL 50.0 X 215265 24648 DR ROY HMEROLLI FORMER EXECUTIVE VP 50.0 X 175462 22482 3966541 0 722501 113 true true false SODEXO INC AND AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 8283910 RESIDENCE INN 252 SOUTH ROAD POUGHKEEPSIE NY 12601 STUDENT HOUSING 1891031 ROBERT AM STERN ARCHITECTS 460 WEST 34TH STREET NEW YORK NY 10001 ARCHITECTS 2819974 Daniel O'Connells Sons Incorporatio 480 HAMPDEN STREET HOLYOKE MA 01040 Construction 20204036 IBM 1 NEW ORCHARD ROAD ARMONK NY 10504 IT SERVICES 2129276 57 17882 5816223 6773630 798405 12607735 TUITION & FEES 611710 168850237 168850237 ROOM & BOARD 721310 41725879 41725879 210576116 3005980 3005980 -109 -109 0 0 0 0 226207947 48108 179449608 1734594 46758339 -1686486 45071853 45071853 53393 17882 55787 -2394 -2394 93121 18830 74291 74291 0 STUDENT CLUB ACTIVITIES 900099 689519 689519 ATHLETICS 611600 1053559 1053559 SUMMER CAMP ACTIVITIES 611600 310315 310315 2109842 2109842 4163235 275496707 210576116 310315 52002541 150000 150000 48083645 48083645 0 0 3461263 1095187 1910134 455942 0 62840447 57294919 4363704 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48083645 48083645 208121817 Collection of artworks College holds a culturally and historically diverse collection. Various artworks and archives serve primarily as learning and research resources for faculty and students. Part V, Line 4 Endowment Funds Endowment funds are intended to be used for scholarships and to support academic programs of the College. FIN 48 Disclosure Tax effects from an uncertain tax position are recognized in the consolidated financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the position might be challenged. The College is exempt from income tax under IRC Section 501(c)(3), though it is subject to tax on income unrelated to its exempt purposes, unless that income is otherwise excluded by the Code. The tax years ending June 30, 2011, 2012, 2013 and 2014 are still open to audit for both Federal and State purposes. Part XI, Line 2d CHANGE IN VALUE INTEREST RATE SWAP $169,862 PENSION & POST RETIREMENT CHANGES 1,726,907 ___________________ 1,896,769 Part XI, Line 4b SCHOLARSHIPS 48,083,645 Part XII, Line 2d MRPS DEPRECIATION 121,570 Part XII, Line 4b SCHOLARSHIPS 48,083,645 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 The college publicizes its racially nondiscriminatory policy on its WEBSITE to make the policy known to all parts of the general community it serves. SCHEDULE E, LINE 6A THE COLLEGE RECEIVES FINANCIAL AID AND OTHER GRANTS FROM FEDERAL AND STATE agencies. Europe (Including Iceland and Greenland) 2 5 Program Services Admin & Education 9018926 South America Program Services Educational 10490 Central America and the Caribbean Program Services Educational 149407 East Asia and the Pacific Program Services Educational 474786 Sub-Saharan Africa Program Services Educational 86980 2 5 2 5 9740589 9740589 false false false false false false RED FOX GOLF 29850 7634 22216 1500 1560 4755 3812 1553 ALUMNI GOLF 18073 4633 13440 7703 11935 1879 3 23352 5615 17737 14050 6302 738 71275 17882 53393 1500 9263 30740 10114 4170 55787 -2394 93121 1000 13700 4130 true 1.00000 93121 1000 13700 4130 18830 74291 NY true false false false 1.00000 TRAVIS TELLITOCCI 3399 NORTH ROAD POUGHKEEPSIE NY 12601 false TIM MURRAY 160254 OVERSEES ALL ASPECTS OF GAMING ACTIVITY X false true Fairview Fire District 258 Violet Avenue Poughkeepsie NY 12601 146000328 501 (a) 150000 COMMUNITY ASSISTANCE 1 INSTITUTIONAL SCHOLARSHIP 7149 48083645 PART 1, LINE 2 The College provides scholarships and financial aids to students based on need and academic performance. The funds are credited directly to the student's account. Records are maintained in accordance with College's policies. The College's finanical aid office adheres strictly to all federal and state regulations and is subject to the compliance and internal controls of OMB A-133. X X X X true true X X X X X false true false false false false false true false DR DENNIS J MURRAY PRESIDENT 480365 225000 24888 107447 45211 882911 DR ROY HMEROLLI FORMER EXECUTIVE VP 175462 21076 1406 197944 DRGEOFFREY L BRACKETT EXECUTIVE VP 317316 15500 12106 58662 24261 427845 JOHN PECCHIA VP BUSINESS AFFAIRS/CFO 238455 15000 143 17691 9576 280865 SEAN P KAYLOR VP ADMISSION & ENROLLMENT 225838 17500 2108 27488 21761 294695 DR THOMAS WERMUTH VP ACAD AFFAIR DEAN OF FACULTY 247233 17500 33 29664 8376 302806 DEBORAH A DICAPRIO VP/DEAN OF STUDENT AFFAIRS 198021 15000 270 24150 21761 259202 WILLIAM T THIRSK VP & CHIEF INFORMATION OFFICER 205433 17500 33 15682 16856 255504 DR JOHN RITSCHDORFF ASSOC.VP OF ACADEMIC AFFAIRS 180236 7500 605 20073 18056 226470 JOSE MARTIN MEN'S BASKETBALL COACH 219693 16719 21761 258173 DR ROGER NORTON DEAN, SCHOOL OF SCIENCE & MATH 206597 17500 270 25091 16856 266314 brian giorgis women's basketball coach 175676 10000 623 42585 8376 237260 DR LEE MIRINGHOFF DIRECTOR OF MIPO 240906 17500 5233 21019 18806 303464 DR BARBARA CARVALHO DIRECTOR OF MARIST POLL 197622 17500 143 15522 9126 239913 CHRISTOPHER DELGIORNO VP COLLEGE ADVANCEMENT 205862 10000 2371 15682 21761 255676 SCHEDULE J, PART I, Line 1a Schedule J, Part I, Question 1A - Travel for Companion is very limited and always includes a clear business purpose for the companion and must be pre-approved by the President. President's companion is approved by the Chair of Board of Trustees. Companion travel is included in person's taxable income. Schedule J, Part I, Question 1a. - Housing Allowance or Residence for Personal Use - The President of the College is provided with housing in close proximity to the campus in order for him to attend to emergent situations on a 24/7 basis. The housing is provided as a condition of his employment, is used for college business and entertainment purposes and as a convenience to the college to enable him to perform his duties. The fair market value of the President's residence was estimated to be $26,700 based on the value of property, property taxes, and maintenance expenses and is reported in column D on Schedule J. Schedule J, Part I, Question 1a. - Health or Social Club Dues or Initiation Fees - The College pays club membership fees for four executives, which are intended to be used exclusively for the College's business entertainment or college sponsored events and to the extent there is any personal use of these privileges the individual executives are taxed on the value of the use. Only one of the four executives is taxed on personal use of the membership. The other three executives use the membership exclusively for business purposes. Schedule J, Part I, Question 1a. - Tax indemnification and gross-up payments - The College provided $23,000 additional gross-up payment to fund the President's pension plan, this amount is included in box Biii on Schedule J. Schedule J, Part I, Question 7. - Non-fixed payments - Annually, variable pay awards were given in recognition of employees contributions to the overall success of the College. Any variable pay awards in future years will be contingent on individual performance and the continued success of the College. Supplemental nonqualified retirement plan EFFECTIVE JULY 1, 2011, THE COLLEGE PUT IN PLACE A NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) FOR THE PRESIDENT OF THE COLLEGE. The annual accruals for these benefits have been reported despite being subject to a substantial risk of forfeiture and contingent upon the president's continued employment at the College. The value of the accrual for calendar year 2013 is included in the Deferred Compensation column (Column C) of Schedule J. The College has in place a Non-qualified Deferred Compensation Plan for the Executive Vice President and several key employees of the College. The annual accruals for these benefits have been reported despite being subject to a substantial risk of forfeiture and contingent upon the executive's continued employment at the College. The value of the accrual for calendar year 2013 is included in the Deferred Compensation column (Column C) of Schedule J. SCHEDULE J, PART 1, LINE 3 SCHEDULE J, PART 1, LINE 3- COMPENSATION COMMITTEE AND INDEPENDENT COMPENSATION CONSULTANT, NO NEW EXECUTIVES WERE HIRED IN FY14 REQUIRING THE COMMITTEE OR CONSULTANT to perform any services. A DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION 273106797 267045cv2 2013-03-28 15262546 REFUND 2003 BONDS (90&92 BONDS) false false false B DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION 273106797 267045bl5 2012-05-17 15415962 Student Center Addition/Renovation false false false C Dutchess County IDA 2008-B 141613685 267041GN5 2008-01-25 20000000 contruction of student housing false false false A 280000 0 15262711 0 0 0 165781 0 0 15096930 0 0 2014 false false true true B 850000 0 15415962 0 0 0 116944 0 0 0 15299018 0 2012 false false true true C 2500000 0 20167954 0 0 0 301631 81184 0 19785139 0 0 2008 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false true false false false false 0 false false false 0 false true B false false false false false false 0 false false false 0 false true C false false true false false false 0 false false false 0 false true A true B true C true part II, line 7, Student Center Addition/renovation The college financed a portion of the costs of issuance with a post-issue date equity contribution and applied the additional proceeds to finance project costs. The post-issuance equity contribution caused the actual amount of bond-financed issuance costs to be less than the amount reported on the form 8038. part II, line 10, columns A & B Amounts listed include capitalized delivery date expenses not subject to the 2 percent limitation in section 147(g) of the code. A DUTCHESS COUNTY LDC 273106797 2013-07-01 33045000 2013B 1-3 Refunding 98,99,05 Bonds false false false A 0 0 33045000 0 0 0 189836 0 0 0 32855164 0 2014 true false true true A false false false false 0 false false false true A false true false false false false 0 false false false 0 false true A true JOSE MARTIN EMPLOYEE MORTGAGE X 75000 48748 false false true 48748 SCHEDULE L, PART II THE PURPOSE OF THE LOAN WAS TO ASSIST MR. MARTIN WITH THE DOWN PAYMENT ON THE PURCHASE OF A LOCAL RESIDENCE. THE TERMS OF THE PROMISSORY NOTE ARE FIVE YEARS AT A RATE OF 5% PER ANNUM. X 2 397265 APPRAISAL VALUE X 5 220492 AVG. PRICE DOT X EQUIPMENT 2 180648 EST. MARKET VALUE false true false COLUMN B MARIST COLLEGE REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN B, NOT THE NUMBER OF ITEMS. FORM 990, PART VI, LINE 11B THE 990 WAS prepared Internally, APPROVED BY THE CFO and then provided to an independent accounting firm for review. THE 990 WAS then PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. COPIES OF THE complete 990 ARE PROVIDED TO ALL BOARD MEMBERS FOR REVIEW AND DISCUSSION PRIOR TO FILING. FORM 990, PART VI, LINE 12C As an on-going practice and as required by our Code of Ethics, all trustees are required to complete Conflict of Interest Statements on an annual basis in which they are asked to discuss any business relationships they or a member of their families have with the College. Our Code of Ethics requires that all cabinet members and staff who engage in significant business dealings for the College (e.g., Director of Physical Plant) complete a Conflict of Interest Statement annually. Completed statements that indicate a potential conflict of interest are reviewed by the Chief Financial Officer, Associate Vice President for Human Resources, and the Executive Vice President. If a conflict exists, appropriate action is taken to ensure full disclosure or termination of the arrangement. FORM 990, PART VI, LINE 15A THE COMPENSATION AND RETIREMENT PROGRAM FOR THE PRESIDENT WAS BASED ON A COMPREHENSIVE ANALYSIS CONDUCTED BY AN INDEPENDENT executive compensation consulting firm. THE PRESIDENT'S CONTRACT WAS RECOMMENDED BY THE BOARD COMMITTEE ON PRESIDENTIAL REVIEW AND COMPENSATION (RESPONSIBLE FOR PRESIDENTIAL EVALUATION AND COMPENSATION), AND APPROVED BY THE FULL BOARD OF TRUSTEES. THE PRESIDENT'S PERFORMANCE IS REVIEWED ON AN ANNUAL BASIS BY THE COMMITTEE ON PRESIDENTIAL REVIEW AND COMPENSATION AND CHANGES IN COMPENSATION ARE RECOMMENDED TO THE FULL BOARD FOR APPROVAL. THE COMMITTEE ON PRESIDENTIAL REVIEW AND COMPENSATION BASES ITS RECOMMENDATIONS FOR ADJUSTMENTS ON PERFORMANCE AND A REVIEW OF APPROPRIATE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA) DATA ON PRESIDENTIAL COMPENSATION AND THE PROCESS AND DECISION IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES. FORM 990, PART VI, LINE 15B SENIOR OFFICER COMPENSATION IS ESTABLISHED AFTER A REVIEW OF COMPENSATION DATA FROM CUPA AT PRIVATE INSTITUTIONS OF HIGHER EDUCATION BASED ON ANNUAL BUDGET SIZE AND ENROLLMENT. IN ADDITION TO SALARY COMPARABILITY AT OTHER INSTITUTIONS, PERFORMANCE AND YEARS OF SERVICE IN THE POSITION ARE ALSO FACTORS CONSIDERED BY THE PRESIDENT IN DETERMINING A SENIOR OFFICER'S ANNUAL SALARY. ONCE THE PRESIDENT HAS COMPLETED HIS REVIEW OF SENIOR OFFICER COMPENSATION, THE PRESIDENT'S RECOMMENDATIONS ARE BROUGHT TO THE BOARD'S TRUSTEESHIP COMMITTEE FOR REVIEW AND APPROVAL. FORM 990, PART VI, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE OFFICE OF THE CHIEF FINANCIAL OFFICER. THE FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE COLLEGE'S WEBSITE AT MARIST.EDU. Form 990, Part XI, Line 9 MRPS Net Change in Fixed Assets 117,494 CHANGE IN INTEREST RATE SWAP OBLIGATION, OTHER 169,862 PENSION & POST RETIREMENT CHANGES 1,726,907 VAYU LLC 3399 NORTH ROAD POUGHKEEPSIE NY 12601 EDUCATIONAL NY 14834602 MARIST COL MARIST REAL PROPERTY SERVICES INC 3399 NORTH ROAD POUGHKEEPSIE NY 12601 141785087 REAL PROP NY 501(c)(3) 11A MARIST COL true MARIST REAL PROPERTY SERVICES TWO INC 3399 NORTH ROAD POUGHKEEPSIE NY 12601 141825215 REAL Prop NY MARIST COL C Corp 175000 1.00000 true false false false false false false false false false false false false true true false false false false