2014-05-14T10:25:52-05:00 2013-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2012-07-01 135562167 BANK STREET COLLEGE OF EDUCATION % NORMAN WALKER BANK 2128754400 610 WEST 112TH STREET Suite NEW YORK NY 100251120 NORMAN WALKER 2128754400 2014-05-13 true 2127589700 2014-05-13 2012 2016-02-25 16:41:14Z ELIZABETH DICKEY 610 WEST 112TH STREET NEW YORK NY 10025 77162976 false X www.bankstreet.edu X 1931 NY BANK STREET COLLEGE OF EDUCATION IS AN INDEPENDENT CO-EDUCATIONAL INSTITUTION OFFERING AN ELEMENTARY SCHOOL AND A GRADUATE TEACHERS COLLEGE. 31 30 1004 30 1256065 -179286 15656344 13231396 42280770 41219086 1518320 2334061 2476998 1585732 61932432 58370275 6213679 6237868 0 0 37598592 35963994 0 0 1576223 16381460 14861424 60193731 57063286 1738701 1306989 65865018 69613089 24465928 24860148 41399090 44752941 X See Schedule O false false 14892368 3062506 19222400 BANK STREET COLLEGE OF EDUCATION IN NEW YORK CITY has two educational divisions. The 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. 16806870 3175362 21293101 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. 6593731 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 PROGRAM AND HEAD START PROGRAM, 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. 2891588 703585 41184557 true true false true false false false false false true true false false false true true true false true false false false false false true false false false true true false false false false false false false false false false false false false false false false false true 191 0 true 1004 true true true false false false false true true false false false false X 31 30 false false false false false false false true true false false true true true true true true true true false X NORMAN WALKER 2128754400 610 WEST 112TH STREET NEW YORK NY 10025 X ANTHONY ASNES 1.0 X X 0 0 0 RIC BURNS 1.0 X 0 0 0 JAY CHAKRAPANI 1.0 X 0 0 0 TIFFANI CHAMBERS 1.0 X 0 0 0 SUZANNE BRATONE CHILDS 1.0 X 0 0 0 JONATHAN COLE 1.0 X 0 0 0 DR BETTYE R FLETCHER COMER 1.0 X 0 0 0 LOREN ENG 1.0 X 0 0 0 YOLANDA C FERRELL-BROWN 1.0 X 0 0 0 FELICE SHAPIRO FRIEDMAN 1.0 X 0 0 0 SARAH GUND 1.0 X 0 0 0 VICTORIA HAMILTON 1.0 X 0 0 0 SUE KAPLAN 1.0 X X 0 0 0 KENNETH B LERER 1.0 X 0 0 0 ADAM H LITKE 1.0 X 0 0 0 CHRISTOPHER MAYER 1.0 X 0 0 0 JOEL H MOSER 1.0 X 0 0 0 MICHAEL T NETTLES 1.0 X 0 0 0 DR LAURA PARSONS 1.0 X 0 0 0 ELIZABETH S PFORZHEIMER 1.0 X X 0 0 0 SANDRA PINNAVAIA 1.0 X 0 0 0 JENNIFER RUSSELL 1.0 X 0 0 0 ANNE SHUTKIN 1.0 X 0 0 0 MARGARET L STEVENS 1.0 X X 0 0 0 HOWARD S STEIN 1.0 X 0 0 0 LYNN G STRAUS 1.0 X X 0 0 0 JEFFREY I SUSSMAN 1.0 X X 0 0 0 NORMAN R WALKER 1.0 X 0 0 0 KATE R WHITNEY 1.0 X X 0 0 0 DEBBIE ZLOTOWITZ 1.0 X 0 0 0 ELIZABETH DICKEY 40.0 X X 348262 0 84521 JON SNYDER 40.0 X 280925 0 56447 ALEXIS WRIGHT 40.0 X 289038 0 55928 VIRGINIA YUKINS 40.0 X 227012 0 25497 FRANK NUARA 40.0 X 232133 0 20312 JOHN BORDEN 40.0 X 207411 0 57818 RIMA SHORE 40.0 X 172982 0 25070 BARBARA COLEMAN 40.0 X 165634 0 27140 CHRISTINA D'AIELLO 40.0 X 161037 0 53899 PAUL McGINNESS 40.0 X 140280 0 10521 ANNA GROSS 40.0 X 139876 0 47404 2364590 0 464557 47 false true false KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 ACCOUNTING AND TAX 110000 GRANT THORNTON LLP 33570 TREASURY CENTER CHICAGO IL 606943500 ACCOUNTING AND TAX 106156 STEVEN LANDIS 485 MADISON AVENUE13TH FLOOR NEW YORK NY 10022 LEGAL SERVICES 103730 3 247750 7173775 5809871 13231396 TUITION AND FEES 611600 40515501 40515501 AUXILIARY ACTIVITIES 722320 703585 703585 41219086 826817 826817 0 48377 48377 56102 56102 0 56102 56102 17982826 16475582 1507244 1507244 1507244 17050 247750 74721 -57671 -57671 0 3498463 2242398 1256065 1256065 OTHER INCOME 900099 282859 282859 282859 58370275 41501945 1256065 2380869 0 0 6237868 6237868 0 0 1761760 549289 1084383 128088 0 25456455 18465925 6190421 800109 1464885 1062042 356600 46243 5105809 3701712 1243860 160237 2175085 1576937 529321 68827 0 224419 224419 248430 248430 102050 102050 0 224199 148400 75799 5195271 4550603 566694 77974 229551 101377 126854 1320 1341017 980401 318722 41894 116820 52773 63793 254 0 2704210 774036 1909197 20977 230097 172563 55126 2408 0 1360596 1206153 83377 71066 195531 116382 74472 4677 0 1691884 973125 678293 40466 323628 87627 236001 BANK FEES 257204 213443 9262 34499 MEMBERSHIP & OTHER FEES 97393 47466 49085 842 OTHER 319124 314835 3746 543 57063286 41184557 14302506 1576223 11030280 14459248 1085289 1106442 6084480 5226943 651097 580039 0 0 0 0 0 0 463106 415360 1438969 1301338 41511227 28355726 14081851 13155501 30526283 32937537 0 0 503663 430681 0 0 0 0 65865018 69613089 4601976 5342626 0 0 7545611 8375681 4259657 3548151 0 0 0 0 0 0 0 0 8058684 7593690 24465928 24860148 X 18247002 19670285 8119582 8931322 15032506 16151334 41399090 44752941 65865018 69613089 X 1306989 952408 1094454 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 102050 102050 OTHER ACTIVITIES FORM 990, SCHEDULE C, PART 11-B, LINE 1J BANK STREET COLLEGE OF EDUCATION HIRED CONSULTING FIRMS THAT SPECIALIZE IN LOBBYING ACTIVITIES RELATED TO THE HIGHER EDUCATION INDUSTRY. THE COLLEGE PAID $102,050 TO LOBBYING CONSULTANTS DURING THE YEAR ENDED JUNE 30, 2013. 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. 16808390 1118828 1367565 528909 18765874 13612517 2939550 562190 305867 16808390 12211043 135922 1893241 627689 13612517 11192837 197012 1072426 251232 12211043 12257718 742511 -1548431 125070 133891 11192837 0.04453 0.86068 0.09480 false false 767580 767580 17430887 11133209 6297678 11400539 6597917 4802622 7204418 6419496 784922 4707803 4205104 502699 13155501 0 POSTRETIREMENT HEALTH BENEFIT PLAN 6472847 CONDITIONAL ASSET RETIREMENT OBLIG 453304 REFUNDABLE GOVERNMENT LOAN PROGRAM 667539 7593690 X 55253529 952408 -6237868 -5285460 60538989 148400 -2317114 -2168714 58370275 51899678 1222660 1222660 50677018 148400 6237868 6386268 57063286 Endowment funds Form 990, Schedule D, Part V, line 4 THE COLLEGE'S ENDOWMENT IS INVESTED IN A PORTFOLIO OF ACTIVELY MANAGED FUNDS ESTABLISHED TO PROVIDE BOTH A SOURCE OF OPERATING FUNDS AS WELL AS LONG-TERM STABILITY. THE ENDOWMENT INCLUDES BOTH DONOR RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT OR QUASI-ENDOWMENT. ENDOWMENT FUNDS HAVE RESTRICTIONS ON USE OF 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 2013 OR 2012. RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART IX, LINE 2, D - $(6,237,868) TUITION DISCOUNTS AND SCHOLARSHIPS LINE 4, B - $(2,242,398) COST OF GOODS SOLD INCLUDED IN PART VIII (74,721) SPECIAL EVENT EXPENSE INCLUDED IN PART VIII 5 ROUNDING RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XII LINE 2, D - $2,242,398 COST OF GOODS SOLD INCLUDED IN PART VIII 74,721 SPECIAL EVENT EXPENSE INCLUDED IN PART VIII (1,094,454) ADJ FOR POST RETIREMENT HEALTH BENEFIT PLAN (5) ROUNDING LINE 2, B - $6,237,868 TUITUTION 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. Ann Trstee Dinr 264800 247750 17050 71831 2890 0 264800 247750 17050 71831 2890 74721 -57671 SCHOLARSHIPS 463 6237868 GRANT ELIGIBILITY & MONITORING SCHEDULE I, PAT 1, LINE1 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 X true true X X X false true false false false false false false false ELIZABETH DICKEY 348262 0 0 0 0 0 68750 0 15771 0 432783 0 0 0 JON SNYDER 280925 0 0 0 0 0 18750 0 37697 0 337372 0 0 0 ALEXIS WRIGHT 227015 0 0 0 62023 0 18750 0 37178 0 344966 0 0 0 VIRGINIA YUKINS 192120 0 0 0 34892 0 17617 0 7880 0 252509 0 0 0 FRANK NUARA 232133 0 0 0 0 0 17612 0 2700 0 252445 0 0 0 JOHN BORDEN 207411 0 0 0 0 0 16695 0 41123 0 265229 0 0 0 RIMA SHORE 172982 0 0 0 0 0 13139 0 11931 0 198052 0 0 0 BARBARA COLEMAN 165634 0 0 0 0 0 12731 0 14409 0 192774 0 0 0 CHRISTINA D'AIELLO 161037 0 0 0 0 0 13186 0 40713 0 214936 0 0 PAUL McGINNESS 140280 0 0 0 0 0 10521 0 0 0 150801 0 0 0 ANNA GROSS 139876 0 0 0 0 0 11250 0 36154 0 187280 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, VIRGINIA YUKINS. THE ALLOWANCES ARE TREATED AS A TAXABLE FRINGE BENEFIT AND INCLUDED ON THEIR FORMS W-2. FOR THE YEAR ENDING DECEMBER 31, 2012, THE ALLOWANCES TOTALED $24,000 AND $34,892 RESPECTIVELY. SCHEDULE J, PART I, LINE 1A AND 4B THE COLLEGE HAS ACCRUED AMOUNTS FOR A POST-RETIREMENT HEALTH CARE PLAN UNDER SECTION 457(F) FOR ITS PRESIDENT , ELIZABETH DICKEY, $50,000 FOR THE YEAR ENDING DECEMBER 31,2012. THE ACCRUED AMOUNTS WILL BE PAID TO MS. DICKEY IN THE YEAR SHE RETIRES AND WILL BE TAXABLE IN THAT YEAR. THE ACCRUED AMOUNTS INCLUDES A GROSS-UP FOR TAXES OF 35%. 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. BANK STREET COLLEGE SUPPORTS THE ENTIRE SPECTRUM OF EDUCATION, SUPPORTING THE FOUNDER LUCY SPRAGUE MITCHELL'S MISSION TO "KEEP ONE EVER A LEARNER." 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. 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 APRIL 2013. 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 WILL BE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. RECONCILIATION OF NET ASSETS FORM 990, PART XI $ 1,094,454 ADJUSTMENT FOR POSTRETIREMENT HEALTH BENEFIT PLAN