2012-03-21T08:58:55-05:00 2011-06-30 UHY ADVISORS NY INC 66 SOUTH PEARL STREET SUITE 400 ALBANY NY 12207 990 2010-07-01 141338488 THE SAGE COLLEGES SAGE 5182442200 45 FERRY ST TROY NY 12180 PETER HUGHES 5182442200 2012-03-05 1 5184493166 2010 2016-02-24 21:20:13Z SUSAN C SCRIMSHAW 45 FERRY ST TROY NY 12180 89256862 0 X N/A X 1916 NY COLLEGIATE EDUCATION OF STUDENTS. 25 24 1619 0 0 0 2330590 9442397 2255699 60891670 -557940 2167458 14516 35968 4042865 72537493 99969 21510675 0 0 3902405 26785984 0 0 2081710 1676327 18280482 5678701 66577141 -1635836 5960352 83909739 85575351 41006249 37392033 42903490 48183318 COLLEGIATE EDUCATION OF STUDENTS. 0 0 58897098 21510675 60891670 COLLEGIATE EDUCATION OF STUDENTS. 58897098 1 1 0 0 0 0 0 0 1 1 1 0 1 1 0 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 1 151 0 1619 1 0 0 0 0 0 1 1 0 0 0 0 X 25 24 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 ALAN GOLDBERG 1.00 X 0 0 0 EILEEN WITZMAN GOLDBLATT 1.00 X 0 0 0 KAREN GROSS 1.00 X 0 0 0 BARRY ILBERMAN 1.00 X 0 0 0 CAROLYN JONES 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 MILLER 1.00 X 0 0 0 JAMES MORLEY 1.00 X 0 0 0 CHESTER J OPALKA 1.00 X 0 0 0 JAMES E PROUT 1.00 X 0 0 0 JAMES K REED 1.00 X 0 0 0 SUSAN RICHTER 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 TIP SIMONS 1.00 X 0 0 0 CHARLOTTE TRACY 1.00 X 0 0 0 LAURA THALLMAN WARNER 1.00 X 0 0 0 ROBERT ZEMSKY 1.00 X 0 0 0 PETER HUGHES 40.00 X 110894 0 5477 DEIRDRE ZARRILLO 40.00 X 120031 0 0 DANIEL LUNDQUIST 40.00 X 170000 0 8415 MELISSA KOMORA 40.00 X 132720 0 8827 TERRENCE WEINER 40.00 X 176655 0 9714 SAROLTA TAKACS 40.00 X 165562 0 14801 LORI GUIGLEY 40.00 X 140059 0 6971 ESTHER HASKVITZ 40.00 X 121498 0 8314 PATRICIA POHL 40.00 X 106361 0 14139 1555660 0 130296 10 0 1 0 SODEXO OPERATIONS LLC BOX 360170 PITTSBURGH PA 15251 FOOD SERVICE 2375923 CDPHP 500 PATROON CREEK BLVD ALBANY NY 12206 BENEFITS ADMINISTRATOR 2241554 UNIVERSITY HEIGHTS ASSOCIATION 84 HOLLAND AVENUE ALBANY NY 12208 SHUTTLE & SECURITY SERVICES 910089 UHCS 100 UNION DRIVE ALBANY NY 12208 DORM SERVICES 791680 MAGGS & ASSOCIATES 501 STATE STREET SCHENECTADY NY 12305 INSURANCE 750036 10 1976640 7465757 1645945 9442397 TUITION & FEES 611710 54785767 54785767 AUXILIARY ENTERPRISES 611710 5816315 5816315 OTHER SOURCES 900099 198643 198643 PARKING 812930 60136 60136 TRANSCRIPTS 611710 30809 30809 60891670 510403 510403 63237 27269 35968 35968 35968 18349155 16633190 58910 1715965 -58910 1657055 1657055 72537493 60891670 0 2203426 21510675 21510675 836432 836432 20653266 18593781 833005 1226480 668221 578173 51911 38137 2875709 2388601 281270 205838 1752356 1516211 136133 100012 174286 171586 2700 160500 160500 6605422 5253307 1188316 163799 289434 271015 18419 1883811 1883811 564583 451347 46674 66562 771244 771244 2372259 2372259 468741 334959 133782 BAD DEBTS 967408 967408 SUPPLIES 625435 564354 50575 10506 OPERATION & MAINTENANCE 596442 348572 240911 6959 SPECIAL PROGRAMS 459854 439445 12352 8057 BOOKS & PERIODICALS 411145 410491 654 1929918 1208853 487478 233587 66577141 58897098 5598333 2081710 0 1053021 504955 952257 3879655 7600354 3221043 3527669 209156 273058 87142487 39079472 50301254 48063015 15372064 13589747 9230160 9348810 378193 354167 813259 813253 83909739 85575351 3823338 4695333 1911329 4056526 15095000 14885000 14234742 8269819 5941840 5485355 41006249 37392033 X 25409182 17915859 4079379 18146261 13414929 12121198 42903490 48183318 83909739 85575351 X 5960352 -680524 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23239401 1265721 3074040 6592418 20986744 26750057 628923 -1139579 3000000 23239401 24830177 1453779 3562092 1959094 1000749 136148 26750057 0.15460 0.52050 0.39690 1 0 5866876 5866876 69274028 28272159 41001869 11966797 10807313 1159484 34786 34786 48063015 WEATHERLOW OFFSHORE FUND I LTD 3427807 F DRAKE CAPITAL OFFSHORE PARTNERS LP 2717219 F CITIGROUP PRIVATE EQUITY PARTNERS OFFSHORE FUND II 2291256 F COMMON STOCK 754358 F CORPORATE OBLIGATIONS 93666 F US GOV & AGENCY & MUNICIPAL OBLIGATIONS 64504 F 9348810 ANNUITIES PAYABLE 229072 ASSET RETIREMENT OBLIGATION 1568911 DEPOSITS HELD FOR OTHERS 151286 LIFE INCOME PAYABLE 115675 U.S. GOVERNMENT ADVANCES 3135981 INTEREST RATE SWAP 110352 ACCRUED POST RETIREMENT BENEFITS 174078 5485355 72537493 66577141 5960352 1164137 -1844661 -680524 5279828 52218224 1164137 27269 1191406 51026818 21510675 21510675 72537493 45093735 27269 27269 45066466 21510675 21510675 66577141 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. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 27,269. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 21,510,675. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 27,269. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES 21,510,675. 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 COLLEGE AND ITS STUDENTS RECEIVE FINANCIAL AID FROM FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER VARIOUS PROGRAMS. 1 STUDENT SCHOLARSHIPS 952 21510675 0 PART I LINE 2 EACH GRANT IS ASSIGNED A GRANTS ADMINISTRATOR WHO MONITORS ALL EXPENDITURES TO INSURE 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 170000 0 0 0 0 0 8415 0 0 0 178415 0 0 0 TERRENCE WEINER 176655 0 0 0 0 0 8714 0 1000 0 186369 0 0 0 SAROLTA TAKACS 165562 0 0 0 0 0 8465 0 6336 0 180363 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 48000 OWED TO M&T BANK ON LINE OF CREDIT $4,600,000 AT 4% INTEREST; INTEREST PAID IN REPORTING PERIOD $48,000. 0 X 21 1645945 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 GAINS ON INVESTMENTS: 1,164,137. PRIOR PERIOD ADJUSTMENTS: -1,844,661. TOTAL TO FORM 990, PART XI, LINE 5: -680,524.