2013-02-04T07:19:57-08:00 2012-06-30 Crowley & Halloran CPAs PC 215 Washington St /Suite 100 Watertown NY 13601 990 2011-07-01 150533545 PAUL SMITHS COLLEGE OF ARTS AND SCIENCE PAUL 5183276226 PO BOX 265 PAUL SMITHS NY 12970 Ann Marie Somma 2013-02-04 true Pamela Halloran 3157883140 2011 2016-02-25 16:41:14Z Ann Marie Somma PO Box Paul Smiths NY 12970 37225846 false false X www.paulsmiths.edu X 1946 NY Higher Education: "The real value of a PSC education is in the emphasis on not just learning something, but in actually doing it." The Paul Smith's College community provides a dynamic educational environment which encourages students to be actively engaged in their own learning experience by fostering creative, ethical and intellectual growth. 22 22 810 93 383180 -67950 4008097 3363346 28968356 31537389 382987 203779 706927 1306790 34066367 36411304 8440376 9673588 0 10328545 11158713 0 1029936 12488457 13811655 31257378 34643956 2808989 1767348 79219301 76388441 30310279 25406248 48909022 50982193 Higher Education: "The real value of a PSC education is in the emphasis on not just learning something, but in actually doing it." The Paul Smith's College community provides a dynamic educational environment which encourages students to be actively engaged in their own learning experience by fostering creative, ethical and intellectual growth. false false 25321243 POSTSECONDARY EDUCATION,GENERAL/OTHER: INSTRUCTION - TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN IN THE ARTS AND SCIENCES, WITH AUTHORITY TO CONFER THE DEGREES OF ASSOCIATES IN ARTS (AA), ASSOCIATES IN APPLIED SCIENCE (AAS) AND BACHELOR OF SCIENCE(BS) IN CONFORMITY WITH THE REGENTS OF NYS AND THE COMMISSIONER OF EDUCATION. Approximately 1,042 students 6494383 POSTSECONDARY EDUCATION, GENERAL/OTHER: AUXILLIARY ENTERPRISES - THE OPERATION AND MAINTENANCE OF THE RESIDENCE HALLS, CAFETERIA AND CAMPUS STORE THAT SERVE THE STUDENTS. 31815626 true true false false false false true false false true true false false false true true true false true false false false false false false false false false true true true false false false false false false false false false false true false false false true false false false false false true 42 0 false 810 true true true false false false false false false true true false 0 false false false false false false false false false false false X 22 22 false false false false false false false true true false false false true true true true true false true false false false X Ann Marie Somma 5183276226 PO BOX 265 PAUL SMITHS NY 12970 Elizabeth Thorndike 1.00 X 0 0 0 Robert Chur 1.00 X 0 0 0 Thomas Rosol 1.00 X 0 0 0 Daniel Tessoni 1.00 X 0 0 0 Thomas Rogers 1.00 X 0 0 0 Nora Sullivan 1.00 X 0 0 0 KATHARINE H WELLING 1.00 X 0 0 0 Joan M Weill 1.00 X 0 0 0 JAMES L SONNEBORN 1.00 X 0 0 0 PIETER VC LITCHFIELD 1.00 X 0 0 0 James Gould 1.00 X 0 0 0 John A Paganelli 1.00 X 0 0 0 PAUL CIMINELLI 1.00 X 0 0 0 Edward McAree 1.00 X 0 0 0 PAUL M CANTWELL JR 1.00 X 0 0 0 C Lee Quaintance III 1.00 X 0 0 0 STUART H ANGERT 1.00 X 0 0 0 Anthony Johnson 1.00 X 0 0 0 Patricia K Dowden 1.00 X 0 0 0 Thad Collum 1.00 X 0 0 0 E PHILLIP SAUNDERS 1.00 X X 0 0 0 Paul E Avery 1.00 X X 0 0 0 Francine Walker 1.00 X X 0 0 0 Caroline D Lussi 1.00 X X 0 0 0 Ann Marie Somma 40.00 X 0 0 0 James Buyea 40.00 X 105226 0 7520 Kathleen Fitzgerald 40.00 X 34277 0 2047 F Raymond Agnew 40.00 X 122778 0 908 RICHARD NELSON 40.00 X 132152 0 10322 STEVEN MCFARLAND 40.00 X 96336 0 7225 JOHN BURKE 40.00 X 57240 0 5255 JOHN MILLS 40.00 X 235675 0 18396 Eric Felver 40.00 X 38333 0 0 Jeffrey Walton 40.00 X 100933 0 7963 Susan Sweeney 40.00 X 95391 0 7379 1018341 67015 5 false true false SODEXO OPERATIONS LLC PO BOX 360170 PITTSBURGH PA 152516170 FOOD & FACILITIES 2604064 Luck Builders 73 Trade Road Plattsburgh NY 12901 Construction 343817 Griffith Energy PO Box 5137 Buffalo NY 14240 Heating 936532 Excellus Blue Cross Blue Shield PO Box 5254 Binghamton NY 139025254 Medical Insurance 1379325 BBL Construction 302 Washington Ave Ext Albany NY 12203 Construction 3669274 18 1078639 2284707 49208 3363346 Student Tuition & Fees 23295018 23295018 Auxiliary Enterprises 8242371 8242371 31537389 203779 203779 0 0 0 0 0 0 1183830 814542 369288 369288 Other 554322 554322 Conference Services 561499 383180 383180 937502 36411304 32091711 383180 573067 0 9673588 9673588 0 0 730500 730500 0 8038859 7360773 178202 499884 549449 489010 43956 16483 1257224 1136546 87766 32912 582681 538682 10729 33270 373248 335092 38156 26065 26065 66100 66100 0 0 34097 34097 0 286016 229366 5097 51553 261786 195664 35467 30655 375285 250823 62787 61675 0 3299849 3174592 100587 24670 706048 554108 79094 72846 0 16360 14560 1309 491 579330 579330 0 2816782 2675942 112672 28168 405443 395463 7984 1996 OTHER/MISC 401254 287496 112318 1440 Printing and Publications 424233 396070 10960 17203 Rental and Maintenance 1263751 1227227 27439 9085 Student Services 2172067 1997353 27109 147605 303941 303941 34643956 31815626 1798394 1029936 175466 104303 4111493 0 0 1500458 1562054 0 0 0 166493 169591 764848 734671 89709880 36205961 53350383 53503919 17649045 18735114 907615 985289 0 0 593500 593500 79219301 76388441 4027134 1613817 177217 331916 20193054 19406678 4259378 2358744 1653496 1695093 30310279 25406248 X 38863630 39777470 1189043 1080374 8856349 10124349 48909022 50982193 79219301 76388441 X 1767348 305823 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 13 77 1 true 10 4725 false 18556660 1268000 506882 611139 19720403 16268897 489489 2430235 631961 18556660 15069530 293972 2257501 1352106 16268897 0.45300 0.51340 0.03360 false false false 821919 821919 68523361 21480224 47043137 4476570 1385263 3091307 15888030 13340474 2547556 53503919 FEDERAL STUDENT LOAN FUNDS 537660 CAPITAL LEASE EQUIPMENT PAYMENTS 165153 ASSET RETIREMENT OBLIGATION 992280 1695093 36411304 34643956 1767348 305823 305823 2073171 36717127 305823 305823 36411304 36411304 35458498 814542 814542 34643956 34643956 Part X Part X : FIN48 Footnote FASB ASC 740, "Income Taxes", requires entities to disclose in their financial statements the nature of any uncertainties in their tax position. Tax years including 2007 and later are subject to examination by tax authorities. Areas that IRS and state tax authorities consider when examining tax returns of a charity include, but may not be limited to, tax-exempt status and the existence and amount of unrelated business income. The College does not believe that it has any uncertain tax positions with respect to these or other matters, and has not recorded any unrecognized tax benefits or liability for penalties or interest. The College is not aware of any circumstances or events that make it reasonably possible that tax benefits may increase or decrease within 12 months of the date of these financial statements. Part XIII, Line 2d Part XIII, Line 2d: Other expenses and losses per audited F/S Cost of Goods Sold $814542 Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. The College has adopted investment and spending polices, approved by the Board of Trustees, for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of these endowment assets over the long-term. The College's spending and investment policies work together to achieve this objective. The investment policy establishes an achievable return objective through diversification of asset classes. The current long-term return objective is to achieve a total return (income plus capital change, net of all investment expenses) equal to or exceeding any approved distribution rate, plus the inflation rate as measured by the Consumer Price Index. Actual returns in any given year may vary from this amount. To satisfy its long-term rate-of-return objectives, the College relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The College targets a diversified asset allocation that places an emphasis on U.S. equity-based investments and U.S. intermediate-term debt securities to achieve its long-term return objectives within prudent risk parameters.The spending policy calculates the amount of money annually distributed from the College's various endowed funds, for scholarships, programs and administration. The College utilizes a total return spending rate policy which limits the amount of investment return used to support current operations. The limit is determined by the College's current budgeted amount to be spent for the year. Under the total spending policy, the College utilized $416,000 and $558,000 in 2012 and 2011, respectively. This equates to approximately 2.1% in 2012 and 3.0% in 2011 of the fair value of the endowment funds. Accordingly, over the long term, the College expects its current spending policy to allow its endowment assets to grow at an average rate of 3% annually. This is consistent with the College's objective to maintain the purchasing power of endowment assets as well as to provide additional real growth through investment return. true true true true true true true false false false false false false false false true false true true X 0 0 Scholarship Aid 9673588 Grantmaker's Description of How Grants are Used College utilizes systems designed for financial aid to students and monitors activity and uses of grants funds on ongoing basis X X false false false false false false false false false false JOHN MILLS 235675 18396 254071 County of Franklin IDA 141763507 2011-02-24 10000000 Construction Project false false Franklin County IDA 141763507 2007-06-28 9340000 Capital Expenditures false false 10000000 217511 7713479 2286521 2012 false false true true 9340000 190000 9340000 2007 false false true true X X 5 49208 false false false Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Available upon request to College Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The College has a written Conflict of Interest policy that is included in its Business Ethics Policy Statement. This Statement is included in the appointment and annual reappointment packets for all employees and is retained in each employee's personnel file. Key employees, officers and trustees are required to disclose any interest that could give rise to conflicts. These procedures are performed annually and are monitored by the Human Resources and Business offices of the College. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process review is made by the Audit Committee of the 990 prior to filing. The committee then reports to the full board of trustees. Green & White Hospitality LLC PO Box 265 Paul Smiths NY 12970 452110175 Hospitality Services to Campus DE Paul Smiths College false false false false false false false false false false false false false false false false false false