2013-07-11T13:57:11-05:00 2012-08-31 113518842 MARKS PANETH & SHRON LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2011-09-01 110461385 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY VAUG 7184296600 8601 23RD AVENUE EAST ELMHURST NY 11369 ROBERT G WALDMANN 7184296600 2013-07-11 1 ROBERT R LYONS CPA P00227472 2125038800 2011 2016-02-24 21:20:13Z JOHN C FITZPATRICK 8601 23RD AVENUE EAST ELMHURST NY 11369 37904503 0 X WWW.VAUGHN.EDU X 1932 NY VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY PROVIDES A CULTURE OF EXCELLENCE IN WHICH RIGOROUS DEGREE, PROFESSIONAL, TECHNICAL AND CERTIFICATION PROGRAMS ARE OFFERED. THESE PROGRAMS, BUILT UPON OUR AERONAUTICAL HERITAGE, WILL INCORPORATE THE LATEST TECHNOLOGY AND MEET THE UNIVERSAL NEEDS OF THE INDUSTRIES THEY SERVE. THE RESULT WILL BE WELL-EDUCATED GRADUATES WHO ARE TRAINED, QUALIFIED AND SUCCESSFUL IN THEIR FIELDS. 18 17 526 0 0 0 4161403 7747872 26849829 29498792 447087 491278 36349 68088 31494668 37806030 3018241 3555561 0 0 13978084 15909261 0 0 461054 14366892 14292632 31363217 33757454 131451 4048576 61100913 67195792 44792546 45615411 16308367 21580381 VAUGHN COLLEGE OF AERONAUTICS AND TECHNOLOGY IS AN INSTITUTION DEDICATED TO PROVIDING A DISTINCTIVE EDUCATION TO A DIVERSE POPULATION OF STUDENTS. OUR MISSION IS TO CREATE AN ENVIRONMENT THAT CULTIVATES PERSONAL GROWTH AND LEADERSHIP IN PREPARATION FOR SUCCESSFUL CAREERS. 0 0 26693441 3555561 27342384 INSTRUCTION - VAUGHN IS A FOUR YEAR PRIVATE EDUCATIONAL INSTITUTION OFFERING BACHELOR AND ASSOCIATE DEGREES IN ENGINEERING AND TECHNOLOGY, AVIATION AND MANAGEMENT. THE INSITUTION ALSO OFFERS A MASTER OF SCIENCE IN AIRPORT MANAGEMENT. THE COLLEGE PROVIDES EDUCATIONAL SERVICES TO OVER 1,700 STUDENTS. THE INSTRUCTIONAL SERVICES ARE SUPPORTED AND ENHANCED BY EFFORTS IN THE ACADEMIC SUPPORT, STUDENT SUPPORT AND INSTITUTIONAL SUPPORT AREAS. 3176739 2156408 AUXILIARY SERVICES - VAUGHN OPERATES A 200 BED RESIDENCE HALL TO PROVIDE ON CAMPUS HOUSING FOR OUR STUDENTS. IN FISCAL YEAR 2011/2012 APPROXIMATELY 160 STUDENTS WERE LIVING IN THE RESIDENCE HALL. THE COLLEGE ALSO OPERATES A CAFETERIA TO PROVIDE FOOD SERVICES TO BOTH RESIDENTIAL AND COMMUTER STUDENTS. 29870180 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 2651 0 526 1 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT G WALDMANN 7184296600 86-01 23RD AVENUE FLUSHING NY 11369 JOHN C FITZPATRICK 40.00 X X 314038 0 53011 THOMAS APPERSON 1.00 X X 0 0 0 ELAINE ASCH-ROOT 1.00 X 0 0 0 SUSAN BAER 1.00 X X 0 0 0 ANNE CRUDGE 1.00 X X 0 0 0 JOHN H ENDERS 1.00 X 0 0 0 TED G GAVRILIS 1.00 X 0 0 0 MONROE W HATCH JR 1.00 X 0 0 0 CLYDE KIZER 1.00 X 0 0 0 THOMAS S MAROTTA 1.00 X 0 0 0 THOMAS J MCKEE 1.00 X X 0 0 0 KATHERINE POSNER 1.00 X 0 0 0 FRANK L ROSENBERG 1.00 X 0 0 0 OSWIN MOORE 1.00 X 0 0 0 DR AGAM N SINHA 1.00 X 0 0 0 JOHN G SUSSEK 1.00 X 0 0 0 GEORGE A VAUGHN 1.00 X 0 0 0 JOSEPH A WERNER 1.00 X 0 0 0 ROBERT G WALDMANN 40.00 X 195490 0 29154 SHARON DEVIVO 40.00 X 215194 0 31480 ERNIE SHEPELSKY 40.00 X 172913 0 35602 JOHN AGNELLI 40.00 X 81894 0 14856 STEPHEN BRACCIO 40.00 X 122300 0 26527 HASSAN RAHEMI 40.00 X 139020 0 27537 MAXINE LUBNER 40.00 X 140643 0 17779 KHALEED MOUAOUYA 40.00 X 116910 0 25439 PAUL LAVERGNE 40.00 X 114175 0 32445 1612577 0 293830 19 0 1 0 AUSTIN WILLIAMS 125 KENNEDY DRIVE SUITE 100 HAUPPAUGE NY 11788 ADVERTISING 1223440 JOHN CIARDULLO ASSOCIATES 575 8TH AVENUE 20TH FL NEW YORK NY 10018 ARCHITECTURAL FEES 388981 LABOR MANAGEMENT CONCEPTS INC 200 BELLEVILLE TURNPIKE NORTH ARLINGTON NJ 07031 SECURITY 364471 AMERICAN EXPRESS PO BOX 360001 FORT LAUDERDALE FL 333360001 CREDIT CARD 358106 UNITED UNLIMITED INC 44-10 30TH AVENUE ASTORIA NY 11103 CLEANING 333129 21 7612506 135366 68660 7747872 STUDENT TUITION & FEES 611710 27342384 27342384 AUXILIARY REVENUE 900099 2156408 2156408 29498792 467669 467669 122082 98473 23609 23609 23609 MISCELLANEOUS FEES 900099 68088 68088 68088 37806030 29498792 0 559366 3555561 3555561 1317659 843018 447851 26790 11751479 11292011 352544 106924 620081 595279 18602 6200 1348544 1294603 40456 13485 871498 836638 26145 8715 114155 114155 39250 39250 62166 62166 1539666 1206527 197965 135174 1492398 1421453 16519 54426 770916 569194 172484 29238 21081 21081 1464036 1374876 89160 451056 401847 40408 8801 37530 35560 1020 950 1917142 1800388 116754 2601876 2443422 158454 149061 139983 9078 COLLEGE RELATIONS 1128955 1007696 57144 64115 BAD DEBT 900000 900000 MISCELLANEOUS 426890 426890 CONTRACTED SERVICE 403895 281661 115998 6236 772559 749382 23177 33757454 29870180 3426220 461054 10543 607551 1479230 526993 1145110 1321822 32182 277652 74627618 35630849 34591928 38996769 23127292 24778938 714628 686067 61100913 67195792 2694929 1899902 1691869 3992128 37374169 36641802 2300000 2500000 731579 581579 44792546 45615411 X 13647783 13993828 2538445 7459114 122139 127439 16308367 21580381 61100913 67195792 X 4048576 1223438 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2660584 5300 176562 54020 2788426 2482586 300 231117 53419 2660584 1142302 1302277 91705 53698 2482586 130491 922600 107840 18629 1142302 0.04570 0.95430 0 0 2557733 2557733 51618077 20109508 31508569 15521341 15521341 0 4930467 4930467 38996769 ALTERNATIVE INVESTMENTS 22062089 F AMOUNTS HELD BY BOND TRUSTEE 2716849 F 24778938 ASSET RETIREMENT OBLIGATION 581579 581579 37806030 33757454 4048576 1223438 1223438 5272014 39056465 1223438 26997 1250435 37806030 0 37806030 33784451 26997 26997 33757454 0 33757454 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO PROVIDE FUNDS FOR STUDENT SCHOLARSHIPS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2012 AND 2011 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE COLLEGE IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED AUGUST 31, 2009 AND PRIOR YEARS. 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 CATALOG EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 VAUGHN COLLEGE RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG) PROGRAM, FEDERAL WORK STUDY (FWS) PROGRAM AND THE PERKINS LOAN PROGRAM. INDIA 0 0 INSTRUCTIONAL AIRPORT/AIRLINE MANAGEMENT; ELECTRICAL ENGINEERING TECHNOLOGY 119804 0 0 0 0 0 0 119804 0 119804 0 0 0 0 0 0 1 SCHOLARSHIPS 1801 3555561 FMV TUITION ASSISTANCE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE OFFERS SEVERAL SCHOLARSHIP OPPORTUNITIES FOR STUDENTS. THE PRIMARY SCHOLARSHIPS AND THE GUIDELINES FOR QUALIFYING ARE: FOUNDERS SCHOLARSHIPS - THESE SCHOLARSHIPS ARE AWARDED TO STUDENTS UPON ACCEPTANCE TO A BACHELOR OF SCIENCE DEGREE PROGRAM AT VAUGHN. TO BE CONSIDERED, APPLICANTS MUST ATTAIN A CUMULATIVE HIGH SCHOOL AVERAGE OF AT LEAST A "B" AND A COMBINED SAT1 SCORE OF AT LEAST 1000. STUDENTS WHO MEET THESE MINIMUM CRITERIAS WILL BE CONSIDERED FOR AWARDS, BASED ON THEIR GRADES AND EXAM SCORES, BY VAUGHN COLLEGE'S SCHOLARSHIP COMMITTEE. THE AWARDS MAY BE RENEWABLE FOR UP TO FOUR YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GRADE POINT AVERAGE (GPA). BOARD OF TRUSTEES GRANTS - THE BOARD OF TRUSTEE ALLOCATES FUNDS TO BE USED IN AWARDING GRANT-IN-AID ASSISTANCE TO NEW AND CONTINUING STUDENTS. GRANTS ARE AWARDED TO STUDENTS WHO ARE MATRICULATING ON A FULL OR PART-TIME BASIS IN BACHELOR AND ASSOCIATE DEGREE PROGRAMS. RECIPIENTS ARE SELECTED ON THE BASIS OF THEIR ACADEMIC PERFORMANCE AND FINANCIAL AID STATUS. AWARDS ARE DESIGNATED FOR A SPECIFIC ACADEMIC YEAR AND ARE RENEWABLE EACH SEMESTER BASED ON SATISFACTORY ACADEMIC PERFORMANCE AND THE AVAILABILITY OF FUNDS. TRANSFER STUDENT SCHOLARSHIP - STUDENTS WHO TRANSFER TO THE COLLEGE HAVING COMPLETED 24 OR MORE CREDITS AT AN ACCREDITED COLLEGE OR UNIVERSITY, AND WHO HAVE ACHIEVED A CUMULATIVE GRADE POINT AVERAGE OF AT LEAST 3.0 (INCLUDING ALL COURSES AT EVERY INSTITUTION ATTENDED) MAY BE AWARDED SCHOLARSHIPS TO TRANSFER. THE AWARDS MAY BE RENEWABLE FOR UP TO THREE YEARS OF CONSECUTIVE STUDY, PROVIDING THE RECIPIENT MAINTAINS A 3.0 CUMULATIVE GPA. ACADEMIC EXCELLENCE SCHOLARSHIPS - ACADEMIC EXCELLENCE SCHOLARSHIPS ARE AWARDED EACH YEAR TO CONTINUING STUDENTS ON THE BASIS OF OUTSTANDING ACADEMIC ACHIEVEMENT AND SELECTION FOR ACADEMIC HONORS. THE CRITERIA APPLIED IN DECIDING ELIGIBILITY FOR THESE AWARDS INCLUDE CUMULATIVE GPA AND SATISFACTORY COMPLETION OF AT LEAST TWO SEMESTERS (29 CREDITS/UNITS OR MORE) AS A MATRICULATED STUDENT. X X X X X 0 0 0 0 0 0 0 0 0 JOHN C FITZPATRICK 313038 0 1000 0 0 0 16500 0 36511 0 367049 0 0 0 ROBERT G WALDMANN 194490 0 1000 0 0 0 0 0 29154 0 224644 0 0 0 SHARON DEVIVO 214194 0 1000 0 0 0 0 0 31480 0 246674 0 0 0 ERNIE SHEPELSKY 171913 0 1000 0 0 0 0 0 35602 0 208515 0 0 0 HASSAN RAHEMI 138020 0 1000 0 0 0 0 0 27537 0 166557 0 0 0 MAXINE LUBNER 139643 0 1000 0 0 0 0 0 17779 0 158422 0 0 0 NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY 132906040 649438BZ0 2006-12-21 40059248 CONSTRUCTION OF FACILITY AND REFUNDING OF PRIOR ISSUE (6/18/98) 0 0 0 3145000 40630938 2715727 723828 19188641 19346159 2008 0 1 1 1 0 0 0 0 1 0 0 0 0 0 1 X 264 FMV X 1 44747 FMV X 4 1524 FMV X AIRLINE TICS. 2 5092 FMV X JETS TICKETS 1 1050 FMV X TRAVEL EXP. 1 750 FMV X ENGINE 1 5000 FMV X GIFT CERTIFICATES 2 250 FMV X XITRACS GRANT PROGRAM 1 6968 FMV X SCHOLARSHIP FUND 1 200 FMV X EMPLOYEE APPRECIATION DAY 1 1024 FMV X REIMBURSEMENT FUNDS 1 91 FMV X PERFORM. DON. 5 1200 FMV X DONATION TO AHRC-50 CLUB ON BEHALF OF COLLEGE 1 500 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE MUST REVIEW THE 990 IN DETAIL. FORM 990, PART VI, SECTION B, LINE 12C IN MAY 2007, A NEW BOARD OF TRUSTEES - CONFLICT OF INTEREST POLICY AND PROCEDURE WAS ADOPTED. THE POLICY AND PROCEDURE INCLUDES AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH MUST BE COMPLETED, SIGNED AND SUBMITTED BY EACH BOARD MEMBER EVERY YEAR IN MAY. THE PRESIDENT'S SECRETARY CONFIRMS RECEIPT OF THE STATEMENTS AND KEEPS THEM ON FILE. IN JULY 2009, AN OFFICERS AND MANAGEMENT STAFF CONFLICT OF INTEREST POLICY AND PROCEDURES WAS ADOPTED. THE POLICY AND PROCEDURES ALSO INCLUDES A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS COMPLETED, SIGNED AND SUBMITTED ON AN ANNUAL BASIS. THE ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES AND COLLEGE SERVICES CONFIRMS RECEIPT, REVIEWS THE FORMS AND KEEPS THEM ON FILE. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE WITH STAFF ASSISTANCE FROM THE COLLEGE'S EXTERNAL LEGAL COUNSEL. COUNSEL USES THE FOLLOWING COMPENSATION FACTORS AND SOURCES TO ASSIST THE COMMITTEE IN ITS DECISION MAKING PROCESS: COMPENSATION FACTORS - A. COMPENSATION LEVELS PAID BY SIMILAR ORGANIZATIONS B. LEVEL OF PERSON'S EDUCATION AND EXPERIENCE C. SPECIFIC RESPONSIBILITIES OF POSITION D. PREVIOUS SALARY OR COMPENSATION PACKAGE E. SIMILAR SERVICES IN THE SAME GEOGRAPHIC OR METROPOLITAN AREA F. SIMILAR NUMBER OF STUDENTS G. ANNUAL BUDGET AND/OR GROSS REVENUE/ASSETS H. NATURE OF CURRICULUM (E.G., 2 YEAR VS. 4 YEAR UNDERGRADUATE VS. GRADUATE) COMPENSATION SOURCES - A. PUBLISHED SURVEYS OF COMPENSATION AT SIMILAR INSTITUTIONS B. INTERNET RESEARCH ON COMPENSATION AT SIMILAR INSTITUTIONS C. FORMS 990 FILED BY OTHER COLLEGES AND UNIVERSITIES D. ANNUAL BUDGET OR GROSS REVENUE/ASSETS LINE 15B: THE PRESIDENT SETS THE COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. HE USES SIMILAR COMPENSATION FACTORS AND SOURCES AND ADVISES THE COMPENSATION COMMITTEE OF HIS DECISIONS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION KEEPS A COPY OF ITS IRS FORM 990 IN ITS LIBRARY FOR EXAMINATION BY THE PUBLIC. A SUMMARY OF ITS KEY FINANCIAL RESULTS IS PRINTED IN ITS MAGAZINE - ANNUAL REPORT EDITION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,223,438. PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT: FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.