2026-04-28T14:35:43-07:00 2025-06-30 990 2024-07-01 161532850 EXCELSIOR UNIVERSITY EXCE 5184648500 7 Columbia Circle Albany NY 122035159 Richard Hannmann VP for Finance and CFO 5186088198 2026-04-28 1 2024 2025-03-06 01:10:19Z David Schejbal 7 Columbia Circle Albany NY 122035159 87998146 0 X www.excelsior.edu X 1998 NY Excelsior University provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The University meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 14 14 921 15 0 0 758980 687494 80174163 83363598 1711389 2368844 338693 424869 82983225 86844805 2024138 1183735 0 0 47902772 51655054 112250 37680 720689 26942206 29154030 76981366 82030499 6001859 4814306 74733671 78191448 16601845 13246196 58131826 64945252 Excelsior University provides educational opportunity to adult learners with an emphasis on those historically underrepresented in higher education. The University meets students where they are - academically and geographically, offering quality instruction and the assessment of prior learning. 0 0 26853048 1156235 81348656 Undergrad and Graduate Tuition and Fees. During this period, 145,035 undergraduate hours of course instruction, and 13,594 hours of graduate level course instruction were delivered. 17349043 2014942 Enrollment in higher education. During this period, 6,031 new students enrolled in the University while there were 9,536 actively enrolled students as of 6/30/25. 3,765 degrees were awarded from July 1, 2024 through June 30, 2025. 0 0 0 44202091 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 104 0 1 921 1 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Fredy Rivas 5186088390 7 Columbia Circle Albany NY 122035159 David Schejbal President & Chief Executive Officer 37.5 X 639338 0 33403 Christopher Cassirer Provost 37.5 X 362710 0 35367 Lorraine Williams Chief of Staff until 5/30/2025 37.5 X 278469 0 32920 Mark Howe VP of Human Resources 37.5 X 289736 0 21544 Francisco Azuola CIO 37.5 X 279319 0 31022 Richard Hannmann Vice President for Finance and CFO 37.5 1 X 279332 0 19657 Raul Nestor Galarza Vice President of enrollment management and marketing 37.5 X 265071 0 19287 Robin Goodrich Executive Dean, CNHS 37.5 X 247358 0 33207 Priyo Chatterjee AVP & CAO 37.5 X 221209 0 31148 Stephanie Poczos Vice Provost, Academic Operations & Quality 37.5 X 232151 0 15152 Scott Dolan Executive Dean, CLAS 37.5 X 209104 0 22147 Daniel Pascoe Aguilar Founding Director CSJ/CDO 37.5 X 191196 0 38289 Adam Sellhorst Executive Director for Strategic Partnerships 37.5 X 167152 0 36675 Eduardo Narvaez Boersner Deputy CIO Enterprise Systems 37.5 X 168928 0 32741 Jamie Furgang AVP - Dev&Alumni Affairs 37.5 X 165560 0 35894 Tammy Zybell Dean of School of Nursing until 3/21/2025 37.5 X 163441 0 36620 Michael DiSiena Former General Counsel (Until 6/22/2024) 37.5 X X 112281 0 12166 David Baime Board Member 1.2 X 0 0 0 Earl Buford Board Member 1.2 X 0 0 0 Jennifer Gentry Board Member until 3/11/2025 1.2 X 0 0 0 Dan Greenstein Board Member until 4/21/2025 1.2 X 0 0 0 Karen Kocher Board Member until 7/11/2025 1.2 X 0 0 0 KH Maman Board Member until 12/31/2024 1.2 X 0 0 0 Rilwan Meeran Board Member 1.2 X 0 0 0 Clar Rosso Board Member 1.2 X 0 0 0 Rose Wang Board member 1.2 X 0 0 0 David Wilson Board Member 1.2 X 0 0 0 Kent Clark Treasurer 1.4 X 0 0 0 Charlene Dukes Vice Chair until 12/31/2024 1.4 X 0 0 0 Matthew Loeb Chair 1.4 X 0 0 0 Jeanne Meister Secretary of the Board until 12/31/2024 then Vice Chair 1.4 X 0 0 0 4272355 0 487239 63 1 1 0 Guild Education Inc 370 17th St Suite 3400 Denver CO 80202 Partnership Revenue Share 3194774 Education Dynamics PO BOX 780276 Philadelphia PA 191780276 Advertising Services 2960877 Google Inc Department NO 3654 San Francisco CA 941393654 Advertising Services 1185575 Freedom Learning Group LLC DBA Ease Learning 1540 International Pkwy Suite 2000 Lake Mary FL 32746 Instructional Design Services 1117459 ReUp Education Inc 9901 Brodie Lane Suite 160 229 Austin TX 78748 Revenue Share 774275 47 0 0 0 0 159885 527609 0 687494 Graduate, UG & non-Credit Bearing Tuition and Fees 611310 81348656 81348656 0 0 Enrollment Related Fees 611310 2014942 2014942 0 0 0 0 0 0 83363598 1643006 0 0 1643006 0 0 0 0 0 0 0 0 723980 0 407267 0 316713 0 316713 0 0 316713 1471912 0 746074 0 725838 0 725838 0 0 725838 0 Miscellaneous 611310 26990 26990 0 0 81166 81166 0 0 108156 86844805 83471754 0 2685557 X 27500 27500 1156235 1156235 0 0 0 0 3599490 932400 2667090 0 0 0 0 0 38777531 26594821 11840216 342494 2292929 1292220 978684 22025 3854740 2109592 1702575 42573 3130364 1982237 1123546 24581 0 0 0 0 248636 0 248636 0 88300 0 88300 0 155828 0 155828 0 37680 37680 71547 0 71547 0 8748760 6136896 2611440 424 5289868 0 5289868 0 1350888 700908 499629 150351 7157835 1271206 5822814 63815 0 0 0 0 904054 450476 453578 0 511511 303972 183052 24487 0 0 0 0 344613 159249 170585 14779 104 0 104 0 90000 0 90000 0 1446921 940161 506760 0 367265 0 367265 0 Credit Card Fees 38245 0 38245 0 University Wide Credit Loss Expense 2158500 0 2158500 0 Miscellaneous Expenses 181155 144218 39457 -2520 82030499 44202091 37107719 720689 -648926 -789350 19622701 21194668 35980 75101 8982324 6562221 384 100 0 0 2053614 3152917 35100372 20321161 15031989 14779211 28979113 32524523 0 0 71546 62359 0 0 604946 629698 74733671 78191448 8705888 7442954 0 0 4050380 5796554 0 0 0 0 3838813 0 0 0 6764 6688 16601845 13246196 X 54503593 61048494 3628233 3896758 58131826 64945252 74733671 78191448 4814306 1999120 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 163166 0 1 17730 180896 0 Schedule C, Part II-B, Line 1 Most of the time/cost is spent in direct contact with various state or federal legislative members and agency officials, periodically in coordination with the University's registered lobbyist consultants, advocating on behalf of the University. The University intermittently works to have state statutes and/or regulations changed, introduced, or interpreted to ensure that the University's interests are advanced. Activities included, for example, work with state officials regarding licensure eligibility criteria for programs leading to professional licensure in nursing. Time was also spent sharing the University's perspective on the effectiveness of the current state authorization reciprocity agreements framework with federal education officials. Lastly, efforts were directed toward increasing military tuition assistance at the federal level. 0 70300 0 0 X 0 28865326 127948 3602948 94597 0 63907 32437718 25601019 129881 3275223 91832 0 48965 28865326 28337992 86426 2304124 89265 5000000 38258 25601019 37961691 103063 -4604065 80943 5000000 41754 28337992 30443033 69014 7563087 76491 0 36952 37961691 0.9019 0.0639 0.0342 0 0 0 3191185 3191185 0 19443750 10088599 9355151 0 0 0 0 0 11898594 10105688 1792906 0 566843 126874 439969 14779211 0 Liabilities to beneficiaries under split interest agreements 6688 6688 X 88035495 1999120 12086 0 -1227783 783423 87252072 0 -407267 -407267 86844805 81222069 12086 0 0 -1227783 -1215697 82437766 0 -407267 -407267 82030499 Schedule D, Part III, Line 4 The collection consists of various paintings that have been donated to or purchased by the University. These works are recorded at their appraised fair market value at the time of donation or at cost when purchased. The collection supports the University's mission by fostering a sense of community and enhancing appreciation for the arts among students, faculty, and staff. Schedule D, Part V, Line 4 The University's endowment is primarily intended to support student scholarships, which help defray the cost of degree completion. Schedule D, Part X, Line 2 The University is classified as an organization described in Section 501(c)(3) of the Internal Revenue Code and, except for any unrelated business income, is exempt from federal income taxes under Section 501(a). Accordingly, no provision for income taxes has been made in the accompanying financial statements. The University has also been designated by the Internal Revenue Service as an entity that is not a private foundation. The University follows FASB guidance related to accounting for uncertain tax positions and believes it has no positions taken, or expected to be taken, that would result in an unrecognized tax benefit. The University has no federal or state informational tax returns currently under examination by the Internal Revenue Service or state taxing authorities. Schedule D, Part XI, Line 2d Institutional Scholarship of $1,156,235 and Investment Fee of $71,547. Schedule D, Part XI, Line 4b This amount relates to rental expenses. Schedule D, Part XII, Line 2d Institutional Scholarship of $1,156,235 and Investment Fee of $$71,547. Schedule D, Part XII, Line 4b This amount relates to rental expenses. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 Schedule E, Part I, Line 3 The organization meets the criteria established in Section 4 03 2 of Revenue Procedure 75 50. The University draws a substantial percentage of its students from across the nation and maintains a racially nondiscriminatory policy with respect to students. The University satisfies the publicity requirement by including a statement of its racially nondiscriminatory policy in all brochures and catalogs related to student admissions, programs, and scholarships. The policy is also referenced in other written advertising materials used to inform prospective students about the University's programs. Schedule E, Part I, Line 6 The University receives government assistance in the form of Federal Direct Loans, Pell Grants, FSEOG Grants, NYS TAP Grants, NYS APTS Grants, the HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The University's participation in the HRSA Nursing Student Loan Program - Baccalaureate Level was revoked on 10/30/2013, due to loan default rates exceeding the acceptable maximum of 5%. Unlike most student loan programs, this program measures default rates based on dollars in default rather than the number of borrowers. At the time of revocation, five borrowers were in default with a total loan balance of $6,844 (11.31%). As of June 30, 2016, the University had returned the entire Federal capital contribution and terminated participation in both the HRSA Nursing Student Loan program and the HRSA Nursing Faculty Loan Program. The University continues to honor all existing terms and provisions including those related to cancellation and deferment, to which borrowers are entitled. X X X X X 1 Grants Plus PO Box 92915 Cleveland OH 44194 The agreement with Grant Plus was established to provide Excelsior University with professional consulting support to strengthen and shape the work of the grants Department. The firm will support the University's small development team by researching available funding opportunities and facilitating collaboration across the institution, helping to position Excelsior before foundations that the University might not otherwise have identified. 1 0 35000 -35000 0 35000 -35000 NY 1 Army War College Foundation INC 651 Wright Ave Carlisle PA 17013 232034407 25000 To help support the mission of the foundation. Army War College 990 description of mission: The foundation engages in charitable and educational endeavors, to support educational programs of the US Army War College and its graduates. 1 0 Scholarships 2409 1156235 The University provides individual scholarship assistance to enrolled students in order to defray the cost of tuition and fees. This assistance is provided through direct credit to the student's account with the University, 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 University's Financial Aid department. Schedule I, Part I, Line 2 The University provides individual scholarship assistance to enrolled students to help defray the cost of tuition and fees. This assistance is applied directly as a credit to the student's account with the University, ensuring that funds are utilized for their intended purpose. Depending on the source of the funds, certain donor-imposed stipulations may apply, and students must meet these requirements to maintain eligibility. When such conditions exist, the University's Financial Aid department performs ongoing monitoring to ensure compliance. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 David Schejbal President & Chief Executive Officer 517824 0 73000 0 48514 0 24150 0 11233 0 674721 0 Christopher Cassirer Provost 360730 0 0 0 1980 0 24150 0 13197 0 400057 0 Lorraine Williams Chief of Staff until 5/30/2025 276489 0 0 0 1980 0 19805 0 15095 0 313369 0 Mark Howe VP of Human Resources 287756 0 0 0 1980 0 20223 0 3301 0 313260 0 Francisco Azuola CIO 278029 0 0 0 1290 0 19805 0 12507 0 311631 0 Richard Hannmann Vice President for Finance and CFO 279207 0 0 0 125 0 19546 0 3921 0 302799 0 Raul Nestor Galarza Vice President of enrollment management and marketing 264621 0 0 0 450 0 18574 0 1163 0 284808 0 Robin Goodrich Executive Dean, CNHS 234043 0 0 0 13315 0 16719 0 17778 0 281855 0 Scott Dolan Executive Dean, CLAS 208654 0 0 0 450 0 15096 0 7501 0 231701 0 Priyo Chatterjee AVP & CAO 204619 0 0 0 16590 0 14660 0 17778 0 253647 0 Stephanie Poczos Vice Provost, Academic Operations & Quality 216462 0 0 0 15690 0 15152 0 690 0 247994 0 Daniel Pascoe Aguilar Founding Director CSJ/CDO 189906 0 0 0 1290 0 13877 0 25702 0 230775 0 Adam Sellhorst Executive Director for Strategic Partnerships 166852 0 0 0 300 0 12264 0 24712 0 204128 0 Eduardo Narvaez Boersner Deputy CIO Enterprise Systems 151853 0 0 0 17074 0 11146 0 21895 0 201968 0 Jamie Furgang AVP - Dev&Alumni Affairs 165110 0 0 0 450 0 12145 0 24199 0 201904 0 Tammy Zybell Dean of School of Nursing until 3/21/2025 162225 0 0 0 1216 0 12035 0 24885 0 200361 0 Michael DiSiena Former General Counsel (Until 6/22/2024) 96761 0 0 0 15520 0 7915 0 4521 0 124717 0 Schedule J, Part I, Line 1a A monthly housing allowance and car allowance are provided to the President David Schejbal and are included in his taxable income. A monthly allowance is also provided to the Executive Dean, CNHS Goodrich, Robin and is included in her taxable wages. The University reimburses a portion of employees' health club dues as part of its wellness initiative. This benefit is available to all University employees and is included in the taxable income of those who use it, including officers. The University grossed up taxable wage payments to the President to reimburse him for taxes incurred on life insurance benefits. Additionally, the University paid social club dues on behalf of the President for business use related solely to University matters; therefore, these payments were not treated as taxable income to him. Schedule J, Part I, Line 4 President David Schejbal participates in the 457b plan. Highmark Western and Northeastern New York Inc Substantial Contributor 4558372 Health Insurance Premium & HRA reimbursement 0 Arrow Bank National Association Substantial Contributor 66600 Broker Service 0 Form 990, Part VI, Section B, Line 11b The Form 990 was prepared by the University's Accounting Services department using information provided by several Officers of the University. After internal preparation was completed, the draft return was forwarded to the University's independent auditors for their review and input. Once their feedback was incorporated, the return was presented to the Audit Committee of the Board of Trustees. The Audit Committee conducted an in-depth review of the final return during a teleconference with University Officers and accounting staff. Management guided the Audit Committee through various schedules included in the filing, explaining the purpose of each schedule and identifying the sources of the information reported. All questions raised by the Committee were addressed by Management of the University, as documented in the meeting minutes. Following this review, the final Form 990 was made available to all Board Members for inspection prior to its submission to the IRS. Form 990, Part VI, Section B, Line 12c The University has maintained and periodically updated its conflicts of interest policy since 1998. The policy is distributed annually to all trustees, officers, and key employees, along with a disclosure statement on which individuals must report any actual or potential conflicts of interest. The Chair of the Audit, Compliance, and Risk Management Committee, in coordination with the University's General Counsel, reviews the submitted disclosure statements and takes appropriate action to ensure compliance with the policy. Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 - Per the University bylaws, the Board is required to from time to time determine the compensation of the President and approve the compensation of all other officers of the University, which should in all cases be reasonable and commensurate with the services performed by them. The University, under the guidance of the Board of Trustees, conducts regular reviews of President and other senior leader compensation using purchased and other available compensation surveys and studies, as well as the intermittent use of an external independent compensation consultant. The most recent review was done in June 2024 in preparation for the renewal of the President's employment contract. This review was conducted using a highly-regarded external consulting firm and included a review of comparative data from a competitive pool of higher education institutions. This external study included a review of compensation for all officers of the university. The President's contract is subject to renewal, extension, or termination every three to five years depending on the contract terms set by the Board of Trustees. Additionally, the compensation of the President is reviewed annually, and any changes are approved by the Executive Committee of the Board of Trustees. For FY25, the last data obtained was "aged" using generally-accepted market compensation factors and used in the annual review process. Each year the President and the Board agree to annual goals and the President provides monthly reports on the progress toward these goals. His achievements are the basis for an annual performance review conducted by the Executive Committee of the Board. All Board discussions are documented in the Board of Trustee meeting minutes. The President's compensation is, in part, derived from the terms of his contract, including the determination and approval of an annual bonus as provided for in the contract. The President's compensation is regularly reviewed to ensure that it is reasonable and compliant with Intermediate Sanctions guidelines according to Treasury Final Regulations Section 53.4958-1. The office of Human Resources establishes compensation within various grade levels at the University based on several factors such as the current local job market and hiring rate in our area, the national job market and relevant compensation data, the demographics of the region including the degree of difficulty and competition in acquiring the particular talent. In addition, we conduct an annual review of our salary levels and key positions in comparison to a market salary analysis tool and adjust our compensation structure and targeted position salaries accordingly. The study gathers 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 comparable against this data and targeted adjustments are made where appropriate. The study assesses positions and makes comparisons to comparable staff positions at similarly situated institutions. The review has two objectives: 1.Determine if current pay levels are commensurate with peer roles at peer institutions, and 2. Ensure that compensation is in line with Section 4958 of the Internal Revenue Code. The results of the survey suggested that the University is in line with respect to Section 4958 of the Internal Revenue Code. Form 990, Part VI, Section C, Line 19 Governing documents, the conflict of interest policy and the financial statements are available upon request in hard copy and electronic (.pdf) form. Form 990, Part IX, Line 11g Consultant Honoraria $69,040; Consulting Services $ 2,182,191; Health and Wellness Expense $17,673; Professional Service Contracts $15,000; Other Contractual Service $1,345,916; Recruiting and Onboarding $159,389; Photography-Videography $77,363; Graphic Resources $13,703; Course Development $1,272,421; External Call Center $218,353; External Evaluation Expense $4,262; Reseller Revenue Share $3,346,786; Real estate commission $26,663. EDUCATION UPWARD INC 7 COLUMBIA CIRCLE ALBANY NY 12203 994903673 To support and advance the purposes of Excelsior University NY 501(c)(3) 509(a)(3) type I Excelsior University 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 EDUCATION UPWARD INC b 90000 Excelsior University provide a grant to Education Upward of $90,000 to use for activities in furtherance of its charitable and educational purposes in support of Excelsior University's mission.