2013-03-13T08:21:58-05:00 2012-06-30 141555429 UHY ADVISORS NY INC 66 SOUTH PEARL STREET SUITE 400 ALBANY NY 12207 990 2011-07-01 141338488 THE SAGE COLLEGES SAGE 5182442200 65 1ST ST TROY NY 12180 PETER HUGHES 5182442200 2013-02-25 1 JAMES P DANIELS P00603621 5184493166 2011 2016-02-25 16:41:14Z X SUSAN C SCRIMSHAW 65 1ST ST TROY NY 12180 97798756 0 X N/A X 1916 NY COLLEGIATE EDUCATION OF STUDENTS. 23 22 1430 0 0 0 9442397 15118324 60891670 64984601 2167458 -185906 35968 46692 72537493 79963711 21510675 23973375 0 0 26785984 27921897 0 0 2128933 18280482 19096062 66577141 70991334 5960352 8972377 85575351 93918265 37392033 36999052 48183318 56919213 COLLEGIATE EDUCATION OF STUDENTS. 0 0 63787636 27153785 64984601 COLLEGIATE EDUCATION OF STUDENTS. 63787636 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 188 0 1430 1 0 0 0 0 0 1 1 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PETER HUGHES 5182442095 45 FERRY STREET TROY NY 12180 LYNN E ABRAHAM 1.00 X 0 0 0 JUDITH CAMPISI 1.00 X 0 0 0 ANN DUFFIELD 1.00 X 0 0 0 DONNA ESTEVES 1.00 X 0 0 0 MARILYN MILLER FOWLER 1.00 X 0 0 0 EILEEN WITZMAN GOLDBLATT 1.00 X 0 0 0 BARRY ILBERMAN 1.00 X 0 0 0 JANET W JONES 1.00 X 0 0 0 A ALEXANDRA JUPIN 1.00 X 0 0 0 FREDERICK A MILLER 1.00 X 0 0 0 JAMES E MORLEY JR 1.00 X 0 0 0 CHESTER J OPALKA 1.00 X 0 0 0 JAMES E PROUT 1.00 X 0 0 0 FAITH DIANE RUBIN 1.00 X 0 0 0 SUSAN C SCRIMSHAW 40.00 X X 311880 0 53638 RONNYE BERG SHAMAM 1.00 X 0 0 0 LAURA THALMANN WARNER 1.00 X 0 0 0 ROBERT ZEMSKY 1.00 X 0 0 0 JOHN BELLARDINI 1.00 X 0 0 0 JOHN P HICKS 1.00 X 0 0 0 PAULA JAECKLE 1.00 X 0 0 0 DEBORAH ONSLOW 1.00 X 0 0 0 NELSON TIP SIMONS 1.00 X 0 0 0 PETER HUGHES 40.00 X 110893 0 5477 DEIRDRE ZARRILLO 40.00 X 120030 0 0 DANIEL LUNDQUIST 40.00 X 169999 0 8415 MELISSA KOMORA 40.00 X 132719 0 8827 TERRENCE WEINER 40.00 X 176655 0 9714 PATRICIA A CELLEMME 40.00 X 86868 0 12137 SAROLTA TAKACS 40.00 X 165561 0 14801 LORI QUIGLEY 40.00 X 140058 0 6971 ESTHER HASKVITZ 40.00 X 121498 0 8314 PATRICIA POHL 40.00 X 106361 0 14139 1642522 0 142433 10 0 1 0 SODEXO OPERATIONS LLC BOX 360170 PITTSBURGH PA 15251 FOOD SERVICE 2865460 CDPHP 500 PATROON CREEK BLVD ALBANY NY 12206 BENEFITS ADMINISTRATOR 2165031 UHCS 100 UNION DRIVE ALBANY NY 12208 DORM SERVICES 1436095 MAGGS & ASSOCIATES 501 STATE STREET SCHENECTADY NY 12305 INSURANCE 893435 UNIVERSITY HEIGHTS ASSOCIATION 84 HOLLAND AVENUE ALBANY NY 12208 SHUTTLE & SECURITY SERVICES 872916 26 1285138 13833186 6083436 15118324 TUITION & FEES 611710 57336980 57336980 AUXILIARY ENTERPRISES 611710 7260078 7260078 OTHER SOURCES 900099 280112 280112 PARKING 812930 73148 73148 TRANSCRIPTS 611710 34283 34283 64984601 199734 199734 74941 28249 46692 46692 46692 17414156 7000 17715997 90799 -301841 -83799 -385640 -385640 79963711 64984601 0 -139214 23973375 23973375 1222224 1222224 21399740 19559853 685944 1153943 676948 627414 12519 37015 2821757 1951646 530895 339216 1801228 1561881 147203 92144 185181 183947 1234 172044 172044 7291367 6710219 399325 181823 262973 247302 15671 1962048 1669366 289532 3150 587053 467450 61900 57703 662881 662881 2724926 2724926 501551 343998 157553 OPERATION & MAINTENANCE 881845 479987 397506 4352 SPECIAL PROGRAMS 588076 547485 10026 30565 SUPPLIES 558295 474991 67808 15496 BOOKS & PERIODICALS 421051 419144 514 1393 2296771 1365718 735825 195228 70991334 63787636 5074765 2128933 1053021 0 952257 731306 7600354 12579674 3527669 3894055 273058 484593 90685483 41588263 48063015 49097220 13589747 16178627 9348810 9747553 354167 391881 813253 813356 85575351 93918265 4695333 4979751 4056526 4034650 14885000 14175000 8269819 8254296 5485355 5555355 37392033 36999052 X 17915859 20384722 18146261 21499943 12121198 15034548 48183318 56919213 85575351 93918265 X 8972377 -236482 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20986744 925399 -63555 838780 21009808 23239401 1265721 3074040 6592418 20986744 26750057 628923 -1139579 3000000 23239401 24830177 1453779 3562092 1959094 1000749 136148 26750057 0.14790 0.65730 0.19480 0 0 5959646 5959646 70551707 30257722 40293985 12600807 11330541 1270266 1573323 1573323 49097220 WEATHERLOW OFFSHORE FUND I LTD 3351571 F DRAKE CAPITAL OFFSHORE PARTNERS LP 2661652 F CITIGROUP PRIVATE EQUITY PARTNERS OFFSHORE FUND II 2332343 F COMMON STOCK 755767 F CORPORATE OBLIGATIONS 581547 F US GOV & AGENCY & MUNICIPAL OBLIGATIONS 64673 F 9747553 ANNUITIES PAYABLE 268001 ASSET RETIREMENT OBLIGATION 1708083 DEPOSITS HELD FOR OTHERS 141965 LIFE INCOME PAYABLE 110772 U.S. GOVERNMENT ADVANCES 3150132 ACCRUED POST RETIREMENT BENEFITS 162181 CASH OVERDRAFT 14221 5555355 79963711 70991334 8972377 -236482 -236482 8735895 55782103 -236482 28249 -208233 55990336 23973375 23973375 79963711 47046208 28249 28249 47017959 23973375 23973375 70991334 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE INTENDED TO SUPPORT THE EDUCATIONAL AND RESEARCH ACTIVITIES OF THE COLLEGES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE COLLEGE HAS NO FEDERAL OR STATE INFORMATIONAL RETURNS THAT ARE CURRENTLY UNDER EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR STATE AUTHORITIES. HOWEVER, FISCAL YEARS 2009 AND LATER REMAIN SUBJECT TO EXAMINATION BY THE IRS AND NEW YORK STATE. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 28,249. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 23,973,375. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 28,249. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 23,973,375. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE SAGE COLLEGES RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED ON THE FIRST PAGE OF THE ANNUAL PUBLICATION OF THE COLLEGE'S CATALOG AND IS RUN ANNUALLY IN THE LOCAL NEWSPAPER. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGES AND THEIR STUDENTS RECEIVE FINANCIAL AID FROM FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER VARIOUS PROGRAMS. 1 STUDENT SCHOLARSHIPS 1751 23973375 0 PART I LINE 2 EACH GRANT IS ASSIGNED A GRANTS ADMINISTRATOR WHO MONITORS ALL EXPENDITURES TO ENSURE FUNDS ARE USED IN ACCORDANCE WITH GRANTOR POLICIES AND REGULATIONS. IN ADDITION, AN ACCOUNTANT IS ASSIGNED TO RECORD AND REPORT ALL GRANT REVENUES AND EXPENDITURES TO THE GRANT ADMINISTRATOR AND GRANTOR ON A REGULAR BASIS. X X 1 1 X 0 0 0 0 0 0 0 0 0 SUSAN C SCRIMSHAW 311880 0 0 0 0 0 12552 0 41086 0 365518 0 0 0 DANIEL LUNDQUIST 169999 0 0 0 0 0 8415 0 0 0 178414 0 0 0 TERRENCE WEINER 176655 0 0 0 0 0 8714 0 1000 0 186369 0 0 0 SAROLTA TAKACS 165561 0 0 0 0 0 8465 0 6336 0 180362 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE/PERSONAL SERVICES: THE COLLEGE PROVIDES PRESIDENT SCRIMSHAW WITH A HOME IN TROY AND REQUIRES ITS USE AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE COLLEGE. THE TOTAL ESTIMATED VALUE OF THE ANNUAL USE OF THE RESIDENCE IS $50,000 OF WHICH $33,500 IS ESTIMATED TO BE THE VALUE OF PERSONAL USE AND IS REPORTED AS A NONTAXABLE BENEFIT IN FORM 990, PART VII AND SCHEDULE J, PART II. M&T BANK VP FINANCE PETER HUGHES' BROTHER BRIAN HUGHES IS A VP OF M&T BANK 98487 OWED TO M&T BANK ON LINE OF CREDIT $5,130,000 AT 4% INTEREST; INTEREST PAID IN REPORTING PERIOD $98,487. 0 X 10 6083436 DAY'S HIGH/LOW AVG 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT FORM 990 IS PRESENTED TO THE BOARD FINANCE COMMITTEE, AUDIT SUB-COMMITTEE AND EXECUTIVE COMMITTEE FOR APPROVAL. IT IS THEN PRESENTED TO THE FULL BOARD FOR FINAL APPROVAL BEFORE BEING SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST DISCLOSURE IS REQUIRED TO BE COMPLETED ANNUALLY BY EACH TRUSTEE AND EXECUTIVE OFFICER. INDIVIDUALS SUBJECT TO ANY KNOWN, POSSIBLE OR PERCEIVED CONFLICT RECUSE THEMSELVES FROM THE DELIBERATIVE AND DECISION-MAKING PROCESSES IN RESPECT OF MATTERS AFFECTED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS REVIEWED AND APPROVED BY THE BOARD EXECUTIVE COMMITTEE AND TRUSTEES. COMPENSATION FOR CABINET MEMBERS IS REVIEWED AND APPROVED BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL INFORMATION RETURNS, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -236,482.