2012-05-11T08:56:14-07:00 2011-06-30 990 2010-07-01 161532850 EXCELSIOR COLLEGE EXCE 5184648500 7 Columbia Circle Albany NY 122035159 John Pontius 5184648384 2012-05-11 2010 2016-02-24 21:20:13Z John Ebersole 7 Columbia Circle Albany NY 122035159 74712582 0 X www.excelsior.edu X 1998 NY A college accredited by the Commission on Higher Education of the Middle States Association of Colleges and Schools, focusing on adult learners through assessment and validation of student knowledge. 18 16 1396 0 0 0 558492 889517 61520834 63365085 574409 232007 23733 20507 62677468 64507116 715877 567810 0 0 42153760 44538284 0 81737 1224184 18419175 20495434 61288812 65683265 1388656 -1176149 43327755 42249646 15679061 14156430 27648694 28093216 Excelsior College provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The College meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 0 0 22770337 214156 29880771 Undergrad and Graduate Tuition (credit and non-credit bearing) Higher Education. During this period, 84,695 undergraduate hours of course instruction, and 9,854 hours of graduate level course instruction were delivered. 14881599 353654 17500329 Nursing and Written Examinations (administered examinations) Higher Education. During this period, the College administered 38,504 written examinations to students enrolled in its various programs and administered 2,814 performance examinations to students enrolled in its Nursing programs. 9932929 0 15955695 Enrollment Higher Education. During this period, 14,240 new students enrolled in the College while there were 30,963 actively enrolled students as of 6/30/11. 5,568 students completed degree requirements between 7/1/10 and 6/30/11. 451549 0 28290 During FY 2011 the College conducted the "Presidents' Forum" wich provides both traditional and non-traditional institutions the opportunity to exchange knowledge and perceptions of current models and tools for successful operation in an online environment. The College also started the "Educators Serving Educators" program. This program works with accredited institutions of higher education to develop and deliver online programs and courses specializing in assisting institutions that serve individuals traditionally underrepresented in higher education. The College also started a press which uses a variety of new and emerging technologies to publish works in print and as e-books. 451549 0 28290 48036414 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 249 0 1 1396 1 0 0 0 0 0 1 1 0 0 0 0 X 18 16 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 1 0 CA X Michele Auricchio 5184648804 Excelsior College 7 Columbia Circle Albany NY 12203 Richard Yep 1.2 X 0 0 0 Polly Baca 1.2 X 0 0 0 Linda Davila 1.2 X 0 0 0 Gloria R Gelmann 1.2 X 0 0 0 William G Harris 1.2 X 0 0 0 Harold L Hodgkinson 1.2 X 0 0 0 William T Moran 1.2 X 0 0 0 Alvin J Schexnider 1.2 X 0 0 0 Harry L Staley 1.2 X 0 0 0 Pamela Tate 1.2 X 0 0 0 Andre Vacroux 1.2 X 0 0 0 John R Wetsch 1.2 X 0 0 0 Kathryn J Whitmire 1.2 X 0 0 0 Jerry L Neff 1.2 X 0 0 0 Mary O'Conner 1.2 X 0 0 0 David Oliker 1.2 X 0 0 0 Sharon I Richie-Melvan 1.2 X 0 0 0 John Amidon 1.2 X 0 0 0 Rita Cepeda 1.2 X 0 0 0 Joseph S Laposata 1.2 X 0 0 0 Joshua L Smith 1.2 X 0 0 0 John Ebersole 37.5 X 450870 0 76096 John M Pontius 37.5 X 175713 0 15785 Nancy Davidson 37.5 X 166453 0 15630 Mary Beth Hanner 37.5 X 170166 0 30058 Cathy Kushner 37.5 X 163702 0 28888 Joseph Porter 37.5 X 178460 0 15974 Wayne Brown 37.5 X 202435 0 19441 Dana Offerman 37.5 X 204852 0 32032 Craig Maslowsky 37.5 X 0 0 0 Susan O'Hern 37.5 X 96294 0 26262 Jane LeClair 37.5 X 150219 0 14036 Bridget M Nettleton 37.5 X 150552 0 27683 George Timmons 37.5 X 134669 0 13735 Scott Dalrymple 37.5 X 143317 0 13089 Thomas Dalton 37.5 X 124925 0 28369 Timothy Maciel 37.5 X 123770 0 12492 Patrick Jones 37.5 X 147407 0 27786 William Stewart 37.5 X 109139 0 11073 Anita Burns 37.5 X 106490 0 24127 Murray Block 37.5 X 118165 0 5594 Michele Auricchio 37.5 X 104511 0 26604 3222109 0 464754 32 1 1 0 NCS Pearson Inc 13036 Collection Center Drive Chicago IL 60693 Examination Administrative Services 1908104 Southern Performance Assessment Center 3032 Briarcliff Road NE Atlanta GA 30329 Nursing Examination Administrative Services 1104846 Milton S Eisenhower Library Johns Hopkins University Baltimore MD 21218 Library Services 1059941 GSS Infotech NY Inc 1762 Central Ave Albany NY 12205 IT Consulting, Supply, and Support 581562 Google Inc Department No 33654 PO Box 39000 San Francisco CA 941393654 Advertising Services 508590 35 0 0 59740 0 320872 508905 8564 889517 Graduate, UG, & Non-Credit Bearing Tuition 611310 29880771 29880771 0 0 Examination Fees 611310 17500329 17500329 0 0 Enrollment Related Fees 611310 15955695 15955695 0 0 Presidents' Forum Conference Fees 611310 28290 28290 0 0 0 0 0 0 63365085 451971 0 0 451971 0 0 0 0 0 0 0 0 0 0 9959619 0 10173262 6321 -213643 -6321 -219964 0 0 -219964 4920 59740 25883 -20963 0 -20963 Bad Check Charges 900099 5040 5040 0 0 Merchandise 900099 11467 11467 0 0 Miscellaneous 900099 24963 24963 0 0 0 0 0 0 41470 64507116 63406555 0 211044 0 0 567810 567810 0 0 0 0 2317378 496049 1632262 189067 0 0 0 0 33527479 28337387 4582463 607629 2195402 1937200 231050 27152 3690021 3116896 518296 54829 2808004 2373322 383792 50890 74175 0 74175 0 113793 0 113793 0 131350 0 131350 0 318986 0 318986 0 81737 81737 119670 0 119670 0 8142033 6406297 1681798 53938 2150835 0 2150835 0 2108863 809997 1185668 113198 1076136 5736 1069600 800 308563 308563 0 0 1013695 153919 859776 0 1650811 1271292 341111 38408 0 0 0 0 563024 216500 340129 6395 3629 0 3629 0 0 0 0 0 1591659 1018662 572997 0 41435 1697 39738 0 Credit Card Fees 794857 794857 0 0 College Wide Bad Debt Expense 214640 214640 0 0 Misc. Expense 77280 5590 71549 141 0 0 0 0 65683265 48036414 16422667 1224184 703813 -932109 8981613 7983992 422252 131234 2794254 2619408 0 0 0 0 229531 422437 139703 120844 872962 812385 24583358 14637223 9987282 9946135 19084903 21093851 0 0 0 111442 51469 43327755 42249646 8544176 7692634 183669 269739 5050251 4671321 1769621 1507618 0 0 0 0 131344 2892 0 0 0 12226 15679061 14156430 X 26809777 26978371 397222 515009 441695 599836 27648694 28093216 43327755 42249646 X -1176149 1620671 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 440129 0 1 87983 528112 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The majority of time/cost is spent in direct contact with various state legislators and other state government officials, in coordination with the College's registered lobbyist consultants, defending the College's Associate Degree Nursing program. The College works to have state statutes and/or regulations changed or introduced to ensure that the College's Associate Degree Nursing graduates are eligible for Registered Nurse licensure in those states. A significant portion of cost/time is spent preparing materials to aid College Officials, in coordination with the College's registered lobbyist consultants, in educating government officials on the fact that Excelsior College graduates are as prepared for licensure as nursing graduates from more traditional programs. Time is also spent drafting proposed legislation that would ensure Excelsior College nursing graduates would receive licensure in various states. 0 64800 0 0 X 0 453217 53899 103243 20690 21021 0 568648 419861 23575 48982 19490 19711 0 453217 402739 37250 -43015 17458 -40345 0 419861 0 0.87 0.13 0 0 0 706735 706735 0 7382883 2279397 5103486 0 268696 108657 160039 0 15109376 11769448 3339928 0 1115668 479721 635947 9946135 0 Liabilities to beneficiaries under split interest agreements 12226 12226 64507116 65683265 -1176149 1620670 0 0 0 0 1620670 444521 66200687 1620670 40698 0 0 1661368 64539319 0 -32203 -32203 64507116 65756166 40698 0 0 0 40698 65715468 0 -32203 -32203 65683265 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Consists of various paintings that have been donated to and/or purchased by the college and have been recorded at their appraised fair market value at the time of donation, or cost at time of purchase. This collection aids in fostering a sense of community and appreciation of the arts for students, faculty, and support staff of the college. SchD_P05_S00_L01e Schedule D, Part V, Line 1e Schedule D, Part V, Line 1e - In accordance with the State of New York Prudent Management of Institutional Funds Act (NYPMIFA), the 21,021 listed as other expenditures represents the College's transfer of funds related to the appreciation of endowment assets from Permanently Restricted Net Assets to Unrestricted Net Assets. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The intended use of the College's endowment is for scholarships which are given to students to defray the cost of degree completion. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College is classified for tax purposes as an organization under Section 501(c)(3) of the Internal Revenue Code, and except for unrelated business income, if any, is exempt from federal income taxes under Section 501(a) of the Code. Therefore, no provision for income taxes is made in the accompanying financial statements. The College follows the FASB guidance regarding accounting for uncertain tax positions. The College believes that it has no uncertain tax positions taken or expected to be taken that could result in an unrecognized tax benefit liability. The College has no federal or state informational tax returns that are currently under examination by the Internal Revenue Service ("IRS") or state authorities. However, fiscal years 2008 and later remain subject to examination by the IRS and New York State. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Includes fundraising expenditures and loss on disposal of assets. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Includes fundraising expenditures and loss on disposal of assets. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The organization meets the criteria established in section 4 03-2 of revenue procedures 75-50. SchE_P01_S00_L06 Schedule E, Part I, Line 6 The college receives government assistance in the form of; Federal Direct Loans, SEOG grants, NYS TAP grants, NYS APTS grants, training grants such as the HRSA traineeship, HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. North America (including Canada and Mexico, but not the United States) 0 0 Program Services Accreditation team visit and attending academic conferencews 12972 Europe (including Iceland and Greenland) 0 0 Program Services International student recruitment and attending academic conferences 14579 Middle East and North Africa 0 0 Program Services International student recruitment 6420 East Asia and the Pacific 0 1 Program Services International student recruitment 12847 South America 0 0 Program Services International student recruitment 9116 0 1 55934 0 0 0 0 0 0 X X X X X X X 1 Ruffalo Cody LLC 65 Kirkwood North Road SW Cedar Rapids IA 52404 Phone Solicitiation 0 38437 67553 -29116 Washburn & McGoldrick LLC 950 New Loudon Road Suite 210 Latham NY 12110 Consulting 0 0 8200 -8200 Catherine Potvin 1574 New Scotland Road Slingerlands NY 12159 Consulting 0 0 5500 -5500 38437 81253 -42816 NY Partners in Lifelong Learning Scholarship Fundraising Event 64660 59740 4920 0 728 800 12852 0 11503 0 0 64660 59740 4920 0 728 800 12852 0 11503 25883 -20963 1 Scholarships 1062 567810 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The College provides individual scholarship assistance to enrolled students in order to defray the cost of the College's enrollment and examination fees. This assistance is provided through direct credit to the student's account with the college, ensuring funds are utilized for their intended purpose. Depending on the source of funds, there may be donor stipulations which students may need to adhere to in order to maintain eligibility of funds. In the event of such, ongoing monitoring is performed by the College's Financial Aid department. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 John Ebersole 301521 0 30600 0 118749 0 62577 0 14281 0 527728 0 36000 0 John M Pontius 152343 0 10112 0 13258 0 15552 0 491 0 191756 0 0 0 Nancy Davidson 155894 0 10163 0 396 0 15630 0 396 0 182479 0 0 0 Mary Beth Hanner 159016 0 10754 0 396 0 16539 0 13915 0 200620 0 0 0 Cathy Kushner 152938 0 10268 0 496 0 15791 0 13493 0 192986 0 0 0 Joseph Porter 157709 0 10267 0 10484 0 15789 0 323 0 194572 0 0 0 Wayne Brown 190291 0 11934 0 210 0 18812 0 719 0 221966 0 0 0 Dana Offerman 191787 0 12669 0 396 0 19483 0 12945 0 237280 0 0 0 Jane LeClair 143801 0 6160 0 258 0 13614 0 680 0 164513 0 0 0 Bridget M Nettleton 143394 0 6900 0 258 0 14634 0 13307 0 178493 0 0 0 Scott Dalrymple 122606 0 6000 0 14711 0 12462 0 688 0 156467 0 0 0 Thomas Dalton 119376 0 5411 0 138 0 12420 0 16087 0 153432 0 0 0 Patrick Jones 140649 0 6500 0 258 0 14689 0 13355 0 175451 0 0 0 William Stewart 104108 0 4773 0 258 0 10603 0 728 0 120470 0 0 0 Anita Burns 101401 0 5000 0 89 0 10607 0 13657 0 130754 0 0 0 Murray Block 105273 0 5746 0 7147 0 5594 0 0 0 123760 0 0 0 Michele Auricchio 99471 0 4950 0 89 0 10607 0 20065 0 135182 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a In calendar year 2010, the College paid gross up payments to the President of the College. These tax gross up payments were to reimburse the President for taxes incurred related to supplemental long term care and life insurance. Additionally, in 2010 the college paid social club dues on behalf of the President. These dues were indented for business use relating to College matters only, and as such, were not treated as taxable income to him. Any personal use of the club was reimbursed to the College by the President. A monthly housing allowance is provided to the President and is included in his taxable wages. Finally, several officers received health club benefits during calendar year 2010. The College reimburses a portion of health club dues of its employees as part of the College's wellness initiative policy. This benefit is available to all college employees, and is included in the taxable income of employees who use this benefit. Albany County Industrial Development Agency 141663410 2003-09-18 1300000 Purchase of 9 Columbia Circle 0 0 0 Albany County Industrial Development Agency 222587283 2003-05-16 2292130 Refinance issue used for 7 Columbia Circle 0 0 0 0 0 1300000 0 0 0 49901 0 0 1300000 0 0 2003 0 0 1 1 0 0 2292130 0 0 0 24404 0 0 2292130 0 0 2003 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 MVP Healthcare President of above referenced business, David Oliker, is a member of the College's Board of Trustees 136081 Payments for adminstration of self-funded health insurance plan for employees of the College. 0 CAEL President of above referenced business, Pamela Tate, serves on the College's Board of Trustees 164544 Conducts various consulting activities related to the evaluation, assessment, and prospective research of the College's academic programs 0 F990_P06_S0A_L03 Form 990, Part VI, Section A, Line 3 The college contracted with an outside management services firm to temporarily aid with the vacant position of VP of Enrollment Services. The firm provided an interim solution until a permanent employee was hired in March of the tax year. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The form 990 was prepared by the accounting services department at the College. The information within the return was obtained through input from several Officers of the College. Following internal preparation of the return, it was forwarded to the College's independent auditors to seek their input before forwarding to the Audit Committee of the Board of Trustees. The Audit committee was delegated the authority to review and approve the final version of the information return by the Board of Trustees. The Audit Committee reviewed the final return in depth via teleconference with the Officers of the College and the accounting staff. Management at the College guided the Audit Committee through the various schedules included in the filing noting the purpose of the schedule and identifying the origin and sources of the content contained within. All questions posed by the Committee were answered by the Management of the College as documented in the minutes to the meeting. The final return was made available for inspection and review to all Board Members before final filing with the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The College has had a written conflict of interest policy since June, 1998. This policy, as amended in 2008, is distributed annually to all Officers, Trustees, and other key employees each October. In addition to the policy, all officers, trustees and key employees are required to complete an annual disclosure statement indicating conflicts of interest and any direct or indirect professional and/or business arrangements with vendors with whom the College has a professional or business arrangement. Annually, the Audit Committee of the Board meets with General Counsel and the Secretary to the Board to review all disclosures and to determine the existence and severity of any conflicts. If conflicts exist, the Chairman of the Board is made aware of the conflicts and disclosures and the Secretary of the Board takes action as directed by the Audit Committee. Should the conflict exist at the Board level, full disclosure is made to all Board members and the affected member is recused from any vote related to the conflict of interest. Conflicts at levels below the Board are disclosed to the CEO, the VP of ODHR, and Legal Counsel to determine the impact of the conflict on the employees' ability to function in the effected role and take steps to resolve the conflict. F990_P06_S0B_L14 Form 990, Part VI, Section B, Line 14 Financial records are retained in accordance with the College's standard record retention policy. In addition, grant awards, certain mortgage and contractual arrangement require additional retention timeframes. Other departments in the College such as the Registrar and Financial Aid offices retain student records as required under federal regulations and agencies guidelines. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Office of Human Resources establishes compensation within various grade levels at the College based on several factors such as the current and local job market and hiring rate in our area, the demographics of the region including the degree of difficulty and competition in acquiring the particular talent. Annual goal setting, progress goal reporting and written performance evaluations are performed. The achievements noted in these activities are additional factors in determining annual compensation. In addition, a compensation study was performed in 2011 which compared duties, responsibilities, and compensation for all job titles at the College. The study gathered data at the national level as well as industry specific data and job market information for our region of the country. Salaries within the organization were compared against this data. Each year, a pay structure is reviewed and adjusted accordingly. Salary grades are also reviewed and when changes are made, they are first presented to the HR and Compensation Committee of the Board of Trustees and then to the full board for approval. This approval is documented in the Board of Trustee meeting minutes. An employment contract with the College President, including a compensation arrangement that considered comparable institution salary data and campus demographics, was approved by the Board of Trustees in 2009. This contract is up for renewal, extension or termination every four years by the Board of Trustees. Additionally, the compensation of the President is reviewed annually by the Executive Committee of the Board of Trustees. The President has annual goals, is required to report on the progress toward the goals, and is subject to annual performance reviews conducted by the Executive Committee of the Board. Additionally, in 2010 a comprehensive salary study for the President was presented to the Board. All Board approvals are documented in the Board of Trustee meeting minutes. Any Board members with a conflict in the compensation arrangement are recused and prohibited from discussion and voting on that compensation arrangement. F990_P06_S0B_L16b Form 990, Part VI, Section B, Line 16b The decision and performance measures used by the Board of Trustees, the President and the Executive Staff at the College align with the core mission of the College as a non-profit educational corporation. Business arrangements are reviewed by these parties before they are entered into to ensure the engagement supports the primary purpose of the tax exemption granted to the College. Revenues and net income generated from these arrangements are reinvested into the operations of the College as to further support ongoing educational activities. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Abbreviated financial statements are issued annually in the annual report which is distributed to the student body, alumni, faculty and staff electronically. Hard copies of financial statements are available upon request. All other applicable documents are available upon request in hardcopy and electronic (.pdf) form. F990_P11_S00_L05 Form 990, Part XI, Line 5 The amount on this line represents unrealized gains and losses on investments held by the College. These are recorded on the College's audited financial statements in accordance with generally accepted accounting principles.