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      <Form990ScheduleIPartIII>
        <TypeOfGrant>Scholarships</TypeOfGrant>
        <NumberOfRecipients>2691</NumberOfRecipients>
        <AmountOfCashGrant>16385620</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>I</Identifier>
        <ReturnReference>2</ReturnReference>
        <Explanation>- Monitoring the use of Grants Nyack College grants funds to students in the form of scholarships, student loans as well as other financial aid. Financial Aid is granted to students based on eligibility guidelines as defined by the Federal Department of Education, the State of New York, and Nyack Colleges Scholarship Grant Programs. Nyack College grants funds to students in the foorm of institutional aid based on merit, need and other specific criteria as outlined in Nyacks Scholarship Grant program.</Explanation>
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    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="990J" softwareId="12000057" softwareVersion="12.19.1011.1">
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <Form990OfOtherOrganizations>X</Form990OfOtherOrganizations>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>Dr Michael G Scales</NamePerson>
        <Title>President</Title>
        <BaseCompensationFilingOrg>202598</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>14350</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>69686</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>286634</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>David C Jennings</NamePerson>
        <Title>Exec. VP Treasurer</Title>
        <BaseCompensationFilingOrg>148000</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>8280</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>17284</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>173564</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>David F Turk</NamePerson>
        <Title>Provost VP of Academic Affairs</Title>
        <BaseCompensationFilingOrg>146299</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>11020</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>17284</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>174603</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Louis A Carlo</NamePerson>
        <Title>Assoc. Dean for ATS in NY City</Title>
        <BaseCompensationFilingOrg>136850</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>4980</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>17284</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>159114</TotalCompensationFilingOrg>
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    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="990K:1" softwareId="12000057" softwareVersion="12.19.1011.1">
      <Form990ScheduleKPartI>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>Dormitory Auth of the State of New York</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>146000293</IssuerEIN>
        <CUSIPNumber>NotApplic</CUSIPNumber>
        <DateIssued>2011-09-30</DateIssued>
        <IssuePrice>5177149</IssuePrice>
        <DescriptionOfPurpose>Equipment</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <AmountRetired>1168652</AmountRetired>
        <TotalProceeds>5177149</TotalProceeds>
        <CapitalizedInterest>280</CapitalizedInterest>
        <IssuanceCostsFromProceeds>42524</IssuanceCostsFromProceeds>
        <CapitalExpenditures>5109341</CapitalExpenditures>
        <YearOfSubstCompletion>2013</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondIssMeetPrvtSecurityPayTest>false</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>false</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>true</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>false</Form8038TFiled>
        <RebateNotDueYet>false</RebateNotDueYet>
        <ExceptionToRebate>false</ExceptionToRebate>
        <NoRebateDue>false</NoRebateDue>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>true</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>A</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>true</ProcToUndertkCorrectiveAction>
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    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="990O" softwareId="12000057" softwareVersion="12.19.1011.1">
      <GeneralExplanation>
        <Explanation>Form 990 Part VI Line 11b - Organizations Process to Review Form 990 The Board of Trustees receives key reports through web-based document room. Form 990 is distributed to the Audit Review Committee prior to its filing and the Board is notified that the Form 990 has been added tot the web-based document room for review.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>Form 990 Part VI Line 12c - Enforcement of Conflict of Interest Policy On an annual basis, the Board of Trustees and Officers fill out a conflict of interest questionnaire. The quesionnaires are reviewed as part of the annual audit process.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>Form 990 Part VI Line 15a - Compensation Process for the Organizations CEO, Executive Director, or top management official The Director of Human Resources compiles comparative data on officers salaries as well as historical salary levels and increases. This data is given to the President and Chairman of the Board of Trustees. The Chairman of the Board approves all salary recommendations for officers reporting to the President. The Chairman of the Board chairs the Personnel Committee of the Board which reviews and makes salary and compensation decisions for the President annually. In addition, the full Board informally reviews the President semi-annually in Executive Session and does a formal written evaluation every three years as part of the Presidents contract renewal.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>Form 990 Part VI Line 15b - Compensation Process for Other Officers or Key Employees The compensation for other officers and key employees is subject to a review and approval process by the Compensation Committee of the Board of Trustees.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>Form 990 Part VI Line 19 - Govering Documents Disclosure Explanation The College makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="990R" softwareId="12000057" softwareVersion="12.19.1011.1">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>Christian &amp; Missionary Alliance EIN</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>8595 Explorer Dr</AddressLine1>
          <City>Colorado Springs</City>
          <State>CO</State>
          <ZIPCode>80920</ZIPCode>
        </AddressUS>
        <EIN>131623940</EIN>
        <PrimaryActivities>Ministry</PrimaryActivities>
        <LegalDomicileState>CO</LegalDomicileState>
        <ExemptCodeSection>501c3</ExemptCodeSection>
        <PublicCharityStatus>1</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>true</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>false</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Christian &amp; Missionary Alliance</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>c</TransactionType>
        <AmountInvolved>826804</AmountInvolved>
        <MethodOfAmtDetermination>Actual cash received</MethodOfAmtDetermination>
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      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Christian &amp; Missionary Alliance</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>o</TransactionType>
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</Return>