2011-01-18T14:04:33-05:00 2010-05-31 KPMG LLP 345 Park Avenue New York NY 10154 990 2009-06-01 237223216 SARAH LAWRENCE COLLEGE SARA 9143952556 1 MEAD WAY BRONXVILLE NY 10708 Joseph Giovannelli 2011-01-07 true KPMG LLP 2127589700 2009 2016-02-24 21:20:13Z KAREN LAWRENCE PRESIDENT 1 MEAD WAY BRONXVILLE NY 107085999 84823155 false X www.sarahlawrence.edu X 1926 NY SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE AND SELECT GRADUATE PROGRAMS ON ITS MAIN CAMPUS IN BRONXVILLE, NY AND FIVE UNDERGRADUATE OVERSEAS PROGRAMS. SEE SCH. O. 31 29 1703 30 13583 4157 9394763 8214707 73598777 76565857 89772 2967 70756 39624 83154068 84823155 17046956 20957067 0 0 42859769 41506961 0 0 3879254 26954401 27152255 86861126 89616283 -3707058 -4793128 164399860 174273099 67865299 70077690 96534561 104195409 SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE AND SELECT GRADUATE PROGRAMS. SEE SCHEDULE O FOR MORE INFORMATION. false false 61013560 19774255 54352097 Undergraduate Program: Educational costs including instruction, academic support, financial aid, library and allocated administrative and occupancy costs for a head count enrollment of 1205 students in Bronxville, New York and 122 students in five overseas programs in London, Oxford, Paris, Florence and Havana. 4854707 1150804 6133894 Graduate Programs: Educational costs and financial aid leading to masters degrees in selected graduate programs including Writing Theatre, Women's History, Dance, Child Development, Art of Teaching, Human Genetics, and Health Advocacy; for total headcount of 322 students. 9631607 13786833 Auxiliary Enterprises: Operational costs consisting of student housing (housing 1001 in Bronxville and 122 in overseas programs), food service and occupancy costs of College bookstore. 1436751 32008 2293033 76936625 true true false false false false false false true true true false true true true false false false false false false false true true true false false false false false false false false false false true false false false false false false false false true 329 0 true 1703 true false true FR IT UK false false false false false false false 31 29 false false false false false false false true true false false false true true true true true true true false NY X DAVID C KLEIN CONTROLLER 9143952556 1 MEAD WAY BRONXVILLE NY 107085999 FRANCOIS HENRI BRIARD 1.0 X 0 0 0 CAROL CHRIST 1.0 X 0 0 0 STEPHANIE COOPER 1.0 X 0 0 0 JOAN CANNADY COUNTRYMAN 1.0 X 0 0 0 DAVID DULL 1.0 X 0 0 0 ELLEN SCHLOSS FLAMM 1.0 X 0 0 0 VICKI FORD 1.0 X 0 0 0 IRA H FUCHS 1.0 X 0 0 0 BETH ANN GENTILE 1.0 X 0 0 0 MARK GOODMAN 1.0 X 0 0 0 YVONNE ISAAC 1.0 X 0 0 0 CLARION JOHNSON 1.0 X 0 0 0 LAWRENCE LEE 1.0 X 0 0 0 WENDY LIPP 1.0 X 0 0 0 CARYN MANDABACH 1.0 X 0 0 0 ERIN STONE-MCKINNON 1.0 X 0 0 0 NANCY MILLER MONTGOMERY 1.0 X 0 0 0 JAY PACK 1.0 X 0 0 0 RONA CARR 1.0 X 0 0 0 SONIA KELLY REESE 1.0 X 0 0 0 ZOE PECHTER 1.0 X 0 0 0 PAULA RUDNICK 1.0 X 0 0 0 SARAH GUND 1.0 X 0 0 0 ROSE ANNE THOM 1.0 X 105890 0 16547 ROBERT UNDERHILL 1.0 X 0 0 0 CLARICE DIBBLE WALKER 1.0 X 0 0 0 JOHN HILL 1.0 X X 0 0 0 Nancie Cooper 1.0 X X 0 0 0 Myra Drucker 1.0 X X 0 0 0 Diana Leslie 1.0 X X 0 0 0 Karen Lawrence 40.0 X X 345494 0 31187 Thomas Blum 40.0 X 137204 0 30128 Micheal Rengers 40.0 X 180876 0 33128 Julie Auster 40.0 X 128213 0 28378 Robert Sweet 40.0 X 182022 0 33878 Allen Green 40.0 X 137203 0 29728 John Bernson 40.0 X 191954 0 35698 Amy Abrams 40.0 X 134589 0 19604 Jerrilyn Dodds 16.67 X 83242 0 10616 Shirley Kaplan 40.0 X 142216 0 18997 Daniel Kaiser 40.0 X 127561 0 18567 Sean Jameson 40.0 X 126631 0 29728 Marvin Frankel 40.0 X 127890 0 17257 Ellen Reynolds 40.0 X 145794 0 15600 Pauline Watts 23.33 X X 244192 0 14670 2540971 0 383711 56 true true false CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 1370900 Flora Horticultural PO box 654 BRONXVILLE NY 10708 Landscaping 433496 ABM Janitorial Services 551 Fifth Ave Suite 300 NEW YORK NY 10176 janitorial service 939523 BMS Construction Corp 58A New Hempstead Rd NEW CITY NY 10956 construction 618705 AVI Fresh 2950 Elm Road NE WARREN OH 44483 Food service 1611219 30 748326 7466381 2198893 8214707 UNDERGRADUATE TUITION AND FEES 611600 54352097 54352097 GRADUATE TUITION AND FEES 611600 6133894 6133894 AUXILLIARY ENTERPRISES 611710 13786833 13786833 OTHER EDUCATION PROGRAMS 611600 2293033 2293033 76565857 2967 13583 -10616 0 0 30250 30250 30250 30250 0 0 0 0 STUDENT LOAN INTEREST 900099 9374 9374 9374 84823155 76565857 13583 29008 0 20957067 20957067 0 0 2145293 824322 1056660 264311 0 29371139 24691139 2707252 1972748 2280899 1825074 289252 166573 5614178 4429361 790651 394166 2095452 1664859 283013 147580 0 20709 20709 169300 169300 0 0 108380 108380 50167 50167 204310 204310 1102677 738930 219937 143810 512824 512824 0 4195772 3884446 271466 39860 462648 342715 39642 80291 0 124481 79733 37855 6893 2914401 2723686 166368 24347 0 3463973 2746429 711466 6078 562966 521194 36424 5348 FOREIGN PROGRAM COSTS 4338362 4338362 CONTRACTED FOOD SERVICE COSTS 2804965 2804965 RESTRICTED FUNDS EXPENSES 846155 651057 195098 BUILDING REPAIR & RENOVATION 816208 755645 52809 7754 PRINTING AND PUBLICATIONS 927658 397087 69091 461480 3526299 2560554 857897 107848 89616283 76936625 8800404 3879254 4051885 5233444 5973031 4610102 133327 142684 1153035 1064543 3092383 1074231 120237840 31178638 87774244 89059202 62221955 73088893 164399860 174273099 7085920 6352474 1646534 3938702 41050000 43500000 5706667 3313381 12376178 12973133 67865299 70077690 X 53176300 60942778 7695547 5893780 35662714 37358851 96534561 104195409 164399860 174273099 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58990582 2228330 9256316 1324769 2238290 108380 66803789 77938513 5956329 -20560959 1291832 2945936 105533 58990582 0.45000 0.55000 false false 5830155 5830155 103944215 26293148 77651067 10463470 4885490 5577980 89059202 DOMESTIC EQUITY FUNDS 722612 F INTERNATIONAL EQUITY FUNDS 5038338 F FIXED INCOME FUNDS 500112 F MULTI-STRATEGY EQUITY FUNDS 19003720 F MULTI-STRATEGY COMMOD FUNDS 2133462 F CORPORATE BONDS 212697 F OTHER BONDS 9942061 F REAL ESTATE SECURITIES FUND 1510929 F INSTITUTIONAL ALL CAP FUND 2990768 F HEDGED & EMERGING MARKET FUNDS 5454404 F REAL ESTATE INVESTMENT TRUSTS 92759 F INDEX FUNDS 380119 F LIMITED PARTNERSHIPS 9486694 F SHORT TERM FUNDS 578226 F CSV OF LIFE INSURANCE 86252 F SSG GLOBAL HEDGED EQUITY FUND 4731403 F SSG DIVERSIFYING COMPANY FUND 1210397 F SSG RELATVE VAL&EVNT DRIVN FND 7333957 F DEPOSITS HELD BY BOND TRUSTEES 1679983 F 73088893 0 INTEREST RATE SWAP LIABILITY 4704072 ANNUITIES PAYABLE 2096337 US GOVERNMENT GRANTS REFUNDABL 1044253 POSTRETIREMENT HEALTH&LIFE INSUR BEN OBLIGA 4809859 CONDITIONAL ASSET RETIRMENT OBLIGATION 318612 12973133 84823155 89616283 -4793128 9256142 3197834 12453976 7660848 76022476 9256142 3008626 12264768 63757708 108380 20957067 21065447 84823155 68361628 -189208 -189208 68550836 108380 20957067 21065447 89616283 SUPPLEMENTAL INFORMATION PART V LINE 4 THE COLLEGE'S INTENDED USE OF THE ENDOWMENT FUNDS IS FOR ACADEMIC PROGRAMS, LIBRARY ACQUISITIONS, SCHOLARSHIPS AND FELLOWSHIPS, AND FACULTY SALARIES. PART XI LINE 8 INCREASE IN VALUE OF SPLIT-INTEREST AGREEMENTS $171,071, INCREASE IN FAIR VALUE OF INTEREST RATE SWAP $189,208, LOSS NOT RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST ($405,137) AND GAIN FROM DEBT REMARKETING $3,242,692. PART XII LINE 2D INCREASE IN VALUE OF SPLIT-INTEREST AGREEMENTS $171,071, LOSS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST ($405,137), GAIN FROM DEBT REMARKETING $3,242,692. PART XII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $20,957,067 PART XIII LINE 2D INCREASE IN FAIR VALUE OF INTEREST RATE SWAP $189,208 PART XIII LINE 4B SCHOLARSHIPS AND FELLOWSHIPS $20,957,067 SCHEDULE D, PART X, FIN 48 THE COLLEGE ADOPTED FIN 48 EFFECTIVE FOR THE FISCAL YEAR ENDED 5/31/2008; THERE WAS NO MATERIAL IMPACT TO THE COLLEGE'S FINANCIAL STATEMENTS FROM THE ADOPTION OF FIN 48. true true true NON-DISCRIMINATORY POLICY REGARDING STUDENT ADMISSIONS AND EMPLOYMENT POLICIES ARE ON THE COLLEGE'S PUBLIC WEBSITE AT WWW.SLC.EDU. NON-DISCRIMINATORY POLICIES ARE ALSO PRINTED IN STUDENTS ADMISSIONS APPLICATION, STUDENTS HANDBOOK, COLLEGE CATALOGUE, ETC. true true true true false false false false false false false false true false FEDERAL CAMPUS-BASED STUDENT AID FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION. THE COLLEGE ALSO RECEIVES FUNDS FROM VARIOUS AGENCIES AS RESEARCH AND TRAINING GRANTS. true Europe (Including Iceland and Greenland) 3 4 Program Services UNDEGRADUATE EDUCATION 4108712 Central America and the Caribbean 1 Program Services UNDEGRADUATE EDUCATION 229650 3 5 4338362 true Scholarships & Fellowships to eligible students 1085 20957067 FMV cr. against tuition SUPPLEMENTAL INFORMATION PART I, LINE 2 A LIST OF RECIPIENTS OF SCHOLARSHIPS IS ON FILE AT THE COLLEGE. THE RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS ESTABLISHED BY THE COLLEGE COMMITTEES THAT JUDGE THE APPLICANTS. THE COLLEGE HAS PROCEDURES THAT ARE DESIGNED TO ENSURE THAT INDIVIDUALS FROM THE COLLEGE QUALIFY TO RECEIVE PAYMENTS. THE COLLEGE'S FINANCIAL AID OFFICE ENSURES THAT GRANTS AND AWARDS ARE IN COMPLIANCE WITH PROCEDURES ESTABLISHED BY THE COLLEGE. X X X true true X X X true false false false false false false false false Karen Lawrence 344719 0 0 0 775 0 24500 0 93006 0 463000 0 0 0 Thomas Blum 137204 0 0 0 0 0 15000 0 27924 0 180128 0 0 0 Micheal Rengers 179916 0 0 0 960 0 18000 0 16488 0 215364 0 0 0 Julie Auster 128213 0 0 0 0 0 13250 0 48415 0 189878 0 0 0 Pauline Watts 89192 0 0 0 155000 0 8983 0 6328 0 259503 0 0 0 Robert Sweet 177887 0 0 0 4135 0 18500 0 23910 0 224432 0 0 0 Allen Green 137203 0 0 0 0 0 14600 0 86375 0 238178 0 0 0 John Bernson 191954 0 0 0 0 0 19570 0 26907 0 238431 0 0 0 Amy Abrams 134589 0 0 0 0 0 13500 0 7151 0 155240 0 0 0 Shirley Kaplan 142216 0 0 0 0 0 13310 0 6988 0 162514 0 0 0 Sean Jameson 126631 0 0 0 0 0 13600 0 25603 0 165834 0 0 0 Ellen Reynolds 145794 0 0 0 0 0 14600 0 5698 0 166092 0 0 0 Part I Line 1a -----TRAVEL FOR COMPANIONS - THE COLLEGE PROVIDES, AS CONDITION OF EMPLOYMENT, EXPENDITURE FOR TRAVEL FOR THE PRESIDENT'S SPOUSE WHEN EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS, WHILE ACCOMPANYING THE PRESIDENT IN PERFORMING HER OFFICIAL DUTIES IN THE AREAS OF DEVELOPMENT, TRUSTEE AND ALUMNI RELATIONS, AND OTHER BUSINESS OF THE COLLEGE. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE, AND THE PAYMENT TOTALS ARE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD. -----HOUSING ALLOWANCE FOR RESIDENCE OR PERSONAL USE - THE COLLEGE HOUSES THE PRESIDENT, THE DEAN OF STUDIES AND STUDENT LIFE, THE DIRECTOR OF PUBLIC SAFETY, AND 6 STAFF FROM STUDENT AFFAIRS, AS REQUIRED BY THE NATURE OF THEIR POSITIONS AND AS A CONDITION OF THEIR EMPLOYMENT. -----PERSONAL SERVICES - THE COLLEGE PROVIDES LIMITED PERSONAL SERVICE CONSISTING OF RESIDENCE HOUSEKEEPING FOR THE PRESIDENT. Part I Line 4a Retirement payments of $155,000 were made to the retired Dean of the College, Pauline Watts. City of Yonkers Industrial Development Agency 521294255 986083CA9 2009-12-01 44217481 CITY OF YONKERS IND. DEV AGENCY false false 44217481 1679125 597633 5710071 2009 true false true true false false false false false true false false false false false false X 41 2198893 FAIR MARKET VALUE false true true PART I, LINE 32A THE COLLEGE SELLS DONATED SECURITIES THROUGH A THIRD PARTY BROKER. THE MISSION AND METHOD OF SARAH LAWRENCE EDUCATION FORM 990, PART III, LINE 1 At Sarah Lawrence College, our mission is to graduate citizens of the world who are diverse in every definition of the word, who take intellectual and creative risks, and who are able to focus exceptional intellectual discipline within a framework of humanistic values and concern for community. Our unique educational practices, including unparalleled time with faculty, aim at preparing the whole student to solve problems in new ways, to cross disciplinary boundaries, and to think and act independently as they become protagonists on the world stage. OTHER PROGRAMS FORM 990, PART III, LINE 4D Other educational programs consisting of non-credit continuing education programs (with a headcount of 28 students), special non-credit courses for adults, (health and wellness classes, culinary arts, etc.), writing institute classes, certificate courses, and early childhood programs. 990 REVIEW PROCESS FORM 990, PART VI, SECTION A, LINE 11 The College's Controller's Office compiled financial information and prepared the 990. A draft was reviewed by KPMG, an independent tax preparer. Acting for the full Board, a draft of the 990 (exclusive of Schedule B) was sent to each member of the Audit Committee and the Executive Committee of the Board to review. A meeting was held on December 13, 2010 to discuss/review. Minutes were taken at the meeting. A draft of Schedule B was reviewed by Audit Committee members only. A final public inspection copy of the 990 was placed on the College's password-protected trustee page for access by each Board member, with e-mail notification thereto, prior to filing. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Secretary of the College regularly and consistently monitors and enforces the conflict of interest policy. Annually, the Trustees are sent the Colleges conflict of interest policy by the Secretary of the College. Compliance is acknowledged by signature and return of the signed statement. At the same time, a disclosure statement is completed in order to disclose any potential conflict of interest with the College. The policy requires disclosure of all potential conflicts of interest to the Secretary, the Dean, or the CFO, as soon as possible after the Trustee learns of the conflict. All disclosed potential conflicts of interest are presented to the Board with the material facts for discussion and decision for approval. The Board sets forth its basis in the minutes of the meeting in which the decision was made. DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES FORM 990, PART VI, SECTION B, LINE 15a and 15b The Executive Commitee, comprised of independent Trustees, meets annually to fix the compensation of the President, the faculty Trustee, and other officers who are not Trustees. The Director of Human Resources meets with the Executive Committee each June to present objective comparative information on all officers of the College. Data is collected from 2 sets of objective comparative peer groups. The President presents to the Committee the annual evaluation and salary recommendation for each officer for the following academic year. The Committee approves the new salaries. The Commitee determines and approves the President's salary. The determination is documented in the contemporaneous meeting minutes. This process was last undertaken in May 8, 2010. AVAILABILITY OF DOCUMENTS, POLICY, AND FINANCIALS FORM 990, PART VI, SECTION C, LINE 19 The College's governing documents are available by request, the conflict of interest policy is on the College's public website, and the College's Financial Statements are made available by request. DESCRIPTION OF PURPOSE-BOND ISSUE SCHEDULE K PART I(f) THE CITY OF YONKERS INDUSTRIAL DEVLOPMENT BONDS WERE ISSUED TO CONVERT FROM VARIABLE TO FIXED RATE FOR BONDS ISSUES 5/27/04, 10/16/03, AND 6/5/01. BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS SCHEDULE L, PART IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS LISTED ON SCHEDULE L, PART IV HAVE BEEN DISCLOSED AND APPROVED BY THE BOARD OF TRUSTEES OF THE COLLEGE IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY.