2026-03-19T13:02:33-05:00 2025-05-31 141555429 UHY ADVISORS NORTHEAST INC 4 TOWER PLACE EXECUTIVE PARK 7TH FLOOR ALBANY NY 12203 990 2024-06-01 141338562 SKIDMORE COLLEGE SKID 5185805000 815 NORTH BROADWAY SARATOGA SPRINGS NY 12866 DANIEL T KONSTALID VP FINANCE & ADMINISTRATION 5185805810 2026-01-30 1 1 XIAOQIANG ZHANG P01577994 5184493166 2026-03-19 2024 2025-03-06 01:10:19Z MARC C CONNER 815 NORTH BROADWAY SARATOGA SPRINGS NY 12866 452413842 0 X WWW.SKIDMORE.EDU X 1903 NY HIGHER EDUCATION 27 26 3195 1327 863032 0 34184462 27822530 227097482 229644795 31051538 29082739 314150 396012 292647632 286946076 73411000 77224000 0 0 116858739 114477086 0 0 6580516 72443292 76456800 262713031 268157886 29934601 18788190 1047776018 1073469922 169809661 158799736 877966357 914670186 X THE EDUCATION OF PREDOMINANTLY FULL-TIME UNDERGRADUATES, A DIVERSE POPULATION OF TALENTED STUDENTS WHO ARE EAGER TO ENGAGE ACTIVELY IN THE LEARNING PROCESS. THE COLLEGE SEEKS TO PREPARE LIBERALLY EDUCATED GRADUATES TO CONTINUE THEIR QUEST FOR KNOWLEDGE AND TO MAKE THE CHOICES REQUIRED OF INFORMED, RESPONSIBLE CITIZENS. SKIDMORE FACULTY AND STAFF CREATE A CHALLENGING YET SUPPORTIVE ENVIRONMENT THAT CULTIVATES STUDENTS' INTELLECTUAL AND PERSONAL EXCELLENCE, ENCOURAGING THEM TO EXPAND THEIR EXPECTATIONS OF THEMSELVES WHILE THEY ENRICH THEIR ACADEMIC UNDERSTANDING. 0 0 58745173 180380144 INSTRUCTION AND RESEARCH: INCLUDES ALL EXPENSES FOR ALL ACTIVITIES THAT ARE A PART OF THE COLLEGE'S INSTRUCTIONAL PROGRAM. THE COLLEGE PROVIDES LIBERAL ARTS EDUCATION TO APPROXIMATELY 2700 STUDENTS AND MAINTAINS A STUDENT TO FACULTY RATIO OF APPROXIMATELY 8:1. 77175000 77175000 8626 STUDENT AID: INCLUDES EXPENSES FOR SCHOLARSHIPS IN THE FORM OF GRANTS TO STUDENTS, RESULTING FROM SELECTION BY THE INSTITUTION FROM A NEEDS-BASED PROGRAM. CURRENTLY, APPROXIMATELY 54.6% OF SKIDMORE STUDENTS ARE RECEIVING SCHOLARSHIPS, GRANTS, LOANS, AND/OR WORK AWARDS WHICH ARE OFFERED SINGLY OR IN VARIOUS COMBINATIONS. 28729161 INSTITUTIONAL SUPPORT: INCLUDES EXPENSES FOR CENTRAL ADMINISTRATIVE LEVEL ACTIVITIES CONCERNED WITH MANAGEMENT OF THE ENTIRE INSTITUTION. ORGANIZATIONAL UNITS INCLUDE FISCAL OPERATIONS, PLANNING AND BUDGETING, HUMAN RESOURCES, PURCHASING, CAMPUS SAFETY, INFORMATION TECHNOLOGY, ETC. 60980779 49000 46957942 HIGHER EDUCATION: OTHER: INCLUDES STUDENT SERVICES, ACADEMIC SUPPORT AND OTHER AUXILIARY ENTERPRISES. STUDENT SERVICES INCLUDES EXPENSES FOR ORGANIZATIONAL UNITS THAT PROVIDE SUPPORT TO STUDENTS. THESE UNITS INCLUDE HEALTH SERVICES, COUNSELING CENTER, ATHLETICS, INTERFAITH PROGRAMS, ETC. ACADEMIC SUPPORT INCLUDES ALL EXPENSES FOR ALL ACTIVITIES THAT ARE PART OF THE COLLEGE'S ACADEMIC MISSION. AUXILIARY ENTERPRISES INCLUDES EXPENSES FOR ORGANIZATIONAL UNITS THAT EXIST TO FURNISH GOODS OR SERVICES TO STUDENTS, FACULTY AND STAFF, AND THAT CHARGE A FEE DIRECTLY RELATED TO THE COST OF THE GOODS OR SERVICES. FACILITIES INCLUDE TWELVE DORMS AND APARTMENT COMPLEXES PROVIDING HOUSING TO APPROXIMATELY 2220 STUDENTS, TWO DINING HALLS, A BOOKSTORE, SNACK BAR, CHILD CENTER, AND TELEPHONE SERVICES. 60980779 49000 46957942 225630113 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 755 0 1 3195 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SKIDMORE COLLEGE FINANCIAL SERVICES 5185805820 815 NORTH BROADWAY SARATOGA SPRINGS NY 12866 MARC CONNER PRESIDENT 35.00 X X 664356 0 126073 DANIEL KONSTALID VP FINANCE & ADMIN, TREASURER 35.00 X 332447 0 58108 DOROTHY KNIGHT-MOSBY DEAN & VP FOR ACADEMIC AFFAIRS 35.00 X 321969 0 35600 CAREY ANNE ZUCCA VP FOR ADVANCEMENT 35.00 X 298372 0 58841 JOSHUA WOODFORK VP STRATEGIC PLAN/INST DEVELOPMENT 35.00 X 300054 0 43881 ADRIAN BAUTISTA VP/DEAN STUDENT AFFAIRS 35.00 X 275947 0 46123 MICHAEL ORR PROFESSOR 35.00 X 244727 0 47656 SARAH VERO VP HR/GENERAL COUNSEL 35.00 X 239113 0 53209 JESSICA RICKER VP ENROLLMENT/DEAN ADMISSIONS & FIN 35.00 X 228042 0 51126 ELIZABETH STAUDERMAN VP COMMUNICATIONS AND MARKETING 35.00 X 230024 0 37001 WILLIAM BRESLIN PROFESSOR 35.00 X 212067 0 45122 GAIL CUMMINGS-DANSON AVP STUDENT AFFAIRS/DIR ATHLETICS 35.00 X 191844 0 47459 ROBERT BOYERS PROFESSOR 35.00 X 204206 0 21848 BERNARD POSSIDENTE PROFESSOR 35.00 X 216755 0 0 LORI EASTMAN ASSOCIATE VP FOR ADVANCEMENT 35.00 X 184453 0 29778 JOHN CHAPLIN DIRECTOR OF PRINCIPAL GIFTS 35.00 X 159566 0 43668 WINSTON GRADY-WILLIS PROFESSOR 35.00 X 177030 0 20131 PUSHKALA PRASAD PROFESSOR 35.00 X 189321 0 0 SHELDON SOLOMON PROFESSOR 35.00 X 157161 0 31329 JONATHAN ACHENBAUM TRUSTEE 3.00 X 0 0 0 DANIEL ALLEN TRUSTEE 3.00 X 0 0 0 SUSAN GOTTLIEB BECKERMAN TRUSTEE 3.00 X 0 0 0 WILLIAM CALEO TRUSTEE 3.00 X 0 0 0 MOLLY DYSON-SCHWERY TRUSTEE 3.00 X 0 0 0 JUDY EISNNER TRUSTEE 3.00 X 0 0 0 ALAN GILBERT TRUSTEE 3.00 X 0 0 0 KATHRYN HERBST TRUSTEE 3.00 X 0 0 0 ANDREW HUGHES TRUSTEE 3.00 X 0 0 0 MAXINE ISAACS TRUSTEE 3.00 X 0 0 0 DAVID LEVINE TRUSTEE 3.00 X 0 0 0 JEFFREY MARON TRUSTEE 3.00 X 0 0 0 KATHERINE POHLAD MCMILLAN TRUSTEE 3.00 X 0 0 0 BARBARA KAHN MOLLER TRUSTEE 3.00 X 0 0 0 JONATHAN BRESTROFF PARKER TRUSTEE 3.00 X 0 0 0 ROBERT RESNICK TRUSTEE 3.00 X 0 0 0 KENNETH RUSCIO TRUSTEE 3.00 X 0 0 0 ANNE SCHAPPS SCHAFFER TRUSTEE 3.00 X 0 0 0 NIGEL SMITH TRUSTEE 3.00 X 0 0 0 ROBERT WYCKOFF TRUSTEE 3.00 X 0 0 0 KIM ROY TOFALLI TRUSTEE 3.00 X 0 0 0 HANNAH TRAORE TRUSTEE 3.00 X 0 0 0 JULIANNE CARTWRIGHT TRAYLOR TRUSTEE 3.00 X 0 0 0 MARGARET VALENTINE TRUSTEE 3.00 X 0 0 0 ARGYRIS VASSILIOU TRUSTEE 3.00 X 0 0 0 KIM WACHENHEIM WAGMAN TRUSTEE 3.00 X 0 0 0 WINNIE WAN TRUSTEE 3.00 X 0 0 0 WENDY WILSON TRUSTEE 3.00 X 0 0 0 JAMES ZANKEL TRUSTEE 3.00 X 0 0 0 NANCY HAMILTON BOARD CHAIR 10.00 X X 0 0 0 4827454 0 796953 181 1 1 0 CONSIGLI CONSTRUCTION CO INC 72 SUMNER ST MILFORD MA 01757 CONSTRUCTION SERVICES 15722596 DIS VESTERGADE 5-7 KOBENHAVN K DA OCSE/STUDY ABROAD 15722596 WJ MORRIS EXCAVATING 210 OLD GICK RD SARATOGA SPRINGS NY 12866 EXCAVATING SERVICES 3580717 MLB CONSTRUCTION 1 STONEBREAK RD BALLSTON SPA NY 12020 CONSTRUCTION MANAGEMENT 2605630 SODEXO OPERATIONS PO BOX 360170 PITTSBURGH PA 15251 PROJECT MANAGEMENT 1814029 52 X 13770 3434129 24374631 6144935 27822530 TUITION & FEES 611310 180380144 180380144 AUXILIARY ENTERPRISES 721310 42633285 40741546 488827 1402912 OTHER SOURCES 611710 6631366 6225022 406344 229644795 5941079 5941079 186586748 1900000 165345088 0 21241660 1900000 23141660 23141660 144485 13770 122678 21807 21807 PASS-THROUGH ENTITIES 900099 374205 374205 374205 286946076 227346712 863032 30913802 49000 49000 77175000 77175000 3045704 837323 1893884 314497 80432503 63513471 13426709 3492323 7492264 5876146 1275654 340464 17759791 12490953 4743013 525825 5746824 4474462 1027625 244737 295504 65176 230328 106994 1387 105607 9143995 6525253 1984584 634158 796342 551267 153623 91452 3728707 726053 3002654 2789905 2105049 277910 406946 933860 925299 8561 4149660 4149660 19939406 19939406 2030782 278017 1752765 EQUIPMENT RENTAL 6871329 3475904 3384159 11266 COST OF GOODS SOLD 5244218 5244218 SUPPLIES 4904017 4408816 459915 35286 15522081 12818253 2220266 483562 268157886 225630113 35947257 6580516 35589 229063 45244727 29182719 16407354 16374698 2113718 2645969 231943 173597 448282 478988 2239466 2403030 740463065 372645990 357294112 367817075 623760827 654164783 1047776018 1073469922 58503301 51728850 6752229 5959076 104108143 100590895 445988 520915 169809661 158799736 X 512406916 553107699 365559441 361562487 877966357 914670186 1047776018 1073469922 X 18788190 17486793 428846 X 0 1 X 1 1 1 X 26739885 32474084 34790174 34184462 27822530 156011135 26739885 32474084 34790174 34184462 27822530 156011135 5111343 150899792 1246752 2163356 4508751 7782946 5941079 21642884 252388 776996 129965 217528 333429 1710306 179364325 1032547585 0.84130 0.87050 X PARTS I AND II, PUBLIC CHARITY STATUS AND SUPPORT SCHEDULE SKIDMORE COLLEGE QUALIFIES AS A PUBLIC CHARITY AS A SCHOOL DESCRIBED IN THE INTERNAL REVENUE CODE, SECTION 170(B)(1)(A)(II). THE PUBLIC SUPPORT SCHEDULE IN PART II HAS BEEN COMPLETED TO SHOW THAT THE COLLEGE ALSO MEETS THE ONE-THIRD PUBLIC SUPPORT TEST OF SECTION 509(A)(1), AND QUALIFIES TO USE THE SPECIAL RULE IN ITS SCHEDULE B PRESENTATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1989550 28306701 X X X 0 488200830 9026659 35223604 7747837 15653600 509049656 428878236 11501717 70784318 7474936 15488505 488200830 454900049 8384017 -11629528 7460602 15315700 428878236 494836770 9005164 -26452455 7413214 15076216 454900049 357075275 5717378 151571652 6400935 13126600 494836770 0.35700 0.28350 0.35950 1 0 4185047 4185047 540835388 233915685 306919703 124593305 101683184 22910121 70849325 37047121 33802204 367817075 CASH & CASH EQUIVALENTS 22468980 F COMMON STOCKS 21396002 F EQUITY LONG/SHORT INVESTMENT FUNDS 367277049 F FIXED INCOME MUTUAL FUNDS 114428557 F ABSOLUTE RETURN FUNDS 7787817 F PRIVATE EQUITY CAPITAL FUND 96288952 F PRIVATE EQUITY REAL ESTATE FUNDS 24517426 F 654164783 REFUNDABLE GOVERNMENT LOAN FUNDS 99874 ASSET RETIREMENT OBLIGATION 421041 520915 X 227686715 17486793 428846 17915639 209771076 77175000 77175000 286946076 190982886 0 190982886 77175000 77175000 268157886 PART III, LINE 4: DESCRIPTION OF ART, ETC. COLLECTIONS AND CONTRIBUTION TO EXEMPT PURPOSE: SKIDMORE COLLEGE HOLDS A CULTURALLY AND HISTORICALLY DIVERSE COLLECTION OF OVER 4,500 ARTWORKS AND ETHNOGRAPHIC OBJECTS THAT SERVE PRIMARILY AS A LEARNING RESOURCE FOR FACULTY AND STUDENTS. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS: ENDOWMENT FUNDS ARE INTENDED TO BE USED TO SUPPORT THE ACTIVITIES AND MISSION OF THE COLLEGE. PART X, LINE 2: FASB ASC 740 TEXT OF FOOTNOTE FROM THE FINANCIAL STATEMENTS: THE PRIMARY INCOME TAX POSITION TAKEN BY THE COLLEGE FOR ANY YEARS OPEN UNDER THE VARIOUS STATUTES OF LIMITATIONS IS THAT THE COLLEGE CONTINUES TO BE EXEMPT FROM INCOME TAXES EXCEPT FOR UNRELATED BUSINESS INCOME. THE COLLEGE BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. NONE OF THE COLLEGE'S RETURNS ARE CURRENTLY UNDER EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -484,527. DEBT ISSUANCE COSTS AMORTIZATION 464,133. PENSION AND POST-RETIREMENT BENEFIT ADJUSTMENTS 449,240. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS, SCHOLARSHIPS & FINANCIAL AID TO STUDENTS 77,175,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS, SCHOLARSHIPS & FINANCIAL AID TO STUDENTS 77,175,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE INTERNET AND IN THE PRINTED COLLEGE CATALOGUE IN ORDER TO BEST MAKE KNOWN TO THE GENERAL COMMUNITY AS WELL AS TO PROSPECTIVE STUDENTS. DUE TO THE LARGE GEOGRAPHIC AREA OF RECRUITING FOR THE COLLEGE USING THE INTERNET FOR BROADCAST MEDIA WAS DETERMINED TO BE THE MOST EFFECTIVE BROADCAST MEDIA OUTLET. SCHEDULE E, PART I, LINE 6 FINANCIAL AID AND ASSISTANCE FROM GOVERNMENTAL AGENCIES INCLUDE PELL GRANT, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, COLLEGE WORK STUDY PROGRAM, FEDERAL DIRECT STUDENT LOANS, AS WELL AS OTHER ASSISTANCE THAT IS USED IN FULFILLING THE MISSION OF THE COLLEGE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT IN LIMITED PARTNERSHIPS 95906929 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENT IN LIMITED PARTNERSHIPS 142459477 0 0 0 0 0 0 238366406 0 238366406 0 0 0 0 1 0 1 SARATOGA PERFORMING ARTS CENTER 108 AVE OF THE PINES SARATOGA SPRINGS NY 12866 141466353 501(C)(3) 25000 0 COMMUNITY COLLABORATION MEDIA ALLIANCE INC PO BOX 35 TROY NY 12180 112538804 501(C)(3) 9000 0 COMMUNITY COLLABORATION 5 SCHOLARSHIPS AND PRIZES 1471 77175000 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS: SCHOLARSHIPS AND PRIZES ARE AWARDED BASED ON NEED AND MONITORED ANNUALLY BASED ON STUDENTS' ACADEMIC PROFILES AND GUIDELINES AS PROVIDED TO STUDENTS. THESE GUIDELINES ARE ALSO AVAILABLE TO STUDENTS ON THE SKIDMORE COLLEGE WEBSITE. X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 MARC CONNER PRESIDENT 664356 0 0 0 0 0 41400 0 84673 0 790429 0 0 0 DANIEL KONSTALID VP FINANCE & ADMIN, TREASURER 332447 0 0 0 0 0 40896 0 17212 0 390555 0 0 0 DOROTHY KNIGHT-MOSBY DEAN & VP FOR ACADEMIC AFFAIRS 321969 0 0 0 0 0 35402 0 198 0 357569 0 0 0 CAREY ANNE ZUCCA VP FOR ADVANCEMENT 298372 0 0 0 0 0 34168 0 24673 0 357213 0 0 0 JOSHUA WOODFORK VP STRATEGIC PLAN/INST DEVELOPMENT 300054 0 0 0 0 0 34883 0 8998 0 343935 0 0 0 ADRIAN BAUTISTA VP/DEAN STUDENT AFFAIRS 275947 0 0 0 0 0 29205 0 16918 0 322070 0 0 0 MICHAEL ORR PROFESSOR 244727 0 0 0 0 0 30369 0 17287 0 292383 0 0 0 SARAH VERO VP HR/GENERAL COUNSEL 239113 0 0 0 0 0 28536 0 24673 0 292322 0 0 0 JESSICA RICKER VP ENROLLMENT/DEAN ADMISSIONS & FIN 228042 0 0 0 0 0 26528 0 24598 0 279168 0 0 0 ELIZABETH STAUDERMAN VP COMMUNICATIONS AND MARKETING 230024 0 0 0 0 0 28078 0 8923 0 267025 0 0 0 WILLIAM BRESLIN PROFESSOR 212067 0 0 0 0 0 22936 0 22186 0 257189 0 0 0 GAIL CUMMINGS-DANSON AVP STUDENT AFFAIRS/DIR ATHLETICS 191844 0 0 0 0 0 22786 0 24673 0 239303 0 0 0 ROBERT BOYERS PROFESSOR 204206 0 0 0 0 0 21200 0 648 0 226054 0 0 0 BERNARD POSSIDENTE PROFESSOR 216755 0 0 0 0 0 0 0 0 0 216755 0 0 0 LORI EASTMAN ASSOCIATE VP FOR ADVANCEMENT 184453 0 0 0 0 0 20780 0 8998 0 214231 0 0 0 JOHN CHAPLIN DIRECTOR OF PRINCIPAL GIFTS 159566 0 0 0 0 0 18995 0 24673 0 203234 0 0 0 WINSTON GRADY-WILLIS PROFESSOR 177030 0 0 0 0 0 19483 0 648 0 197161 0 0 0 PUSHKALA PRASAD PROFESSOR 189321 0 0 0 0 0 0 0 0 0 189321 0 0 0 SHELDON SOLOMON PROFESSOR 157161 0 0 0 0 0 14340 0 16989 0 188490 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES THE PRESIDENT WITH A CAMPUS HOUSE AND REQUIRES ITS USE AS A CONDITION OF EMPLOYMENT FOR THE BENEFIT OF THE COLLEGE. THE TOTAL ANNUAL ESTIMATED VALUE IS INCLUDED IN NON-TAXABLE BENEFITS IN FORM 990, PART VII, LINE 1A AND SCHEDULE J, PART II. A SARATOGA COUNTY CAPITAL RESOURCE CORPORATION 461520521 803481BY5 2014-06-03 25375106 REFUND OF PRIOR ISSUE 0 0 0 B SARATOGA COUNTY CAPITAL RESOURCE CORPORATION 461520521 803481CS7 2018-03-01 39536432 CONSTRUCTION OF CENTER FOR INTEGRATED SCIENCES - NORTH WING 0 0 0 C SARATOGA COUNTY CAPITAL RESOURCE CORPORATION 461520521 803481DS6 2021-04-06 24914342 REFUND OF PRIOR ISSUE 0 0 0 D SARATOGA COUNTY CAPITAL RESOURCE CORPORATION 461520521 803481CZ1 2020-10-14 30474057 CONSTRUCTION OF CENTER FOR INTEGRATED SCIENCES 0 0 0 A 10575304 25375106 285387 25089719 2013 1 0 1 1 B 3240576 39536432 1709250 548182 37279000 2020 0 0 1 1 C 4262072 24914342 250540 24663802 2021 1 0 1 1 D 391070 30474057 469684 30004373 2021 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 SCHEDULE K, LINE 2: THE DORMITORY AUTHORITY BONDS WERE DEFEASED AND REFINANCED WITH THE SCCRC SERIES 2021A BONDS. SCHEDULE K, PART I, COLUMN D LINE 3 TOTAL PROCEEDS OF ISSUE ARE GREATER THAN ISSUE PRICE DUE TO INVESTMENT EARNINGS. ADIRONDACK TRUST CO COLLEGE PRESIDENT CONNER SERVES ON ADIRONDACK TRUST COMPANY BOARD. 460166 THE COLLEGE RECEIVED INTEREST/DIVIDENDS OF $441,024 FOR EQUITY INTEREST IN ADIRONDACK TRUST CO. AND OTHER AMOUNTS HELD WITH ADIRONDACK TRUST CO. AND PAID FEES OF $19,142. 0 X 17 1989550 EXPERT OPINION X 102 3390105 DAY'S HIGH/LOW AVERAGE X HORSES 6 711000 EXPERT OPINION X CONSUMMABLES/SMALL EQUIPMENT 5 54280 FAIR MARKET VALUE 25 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: THE DRAFT RETURN (FORM 990) WAS REVIEWED BY THE AUDIT AND RISK MANAGEMENT COMMITTEE PRIOR TO FILING. COPIES OF THE FINAL RETURN WERE SUBSEQUENTLY PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST PROCEDURES: COLLEGE TRUSTEES, COMMITTEE MEMBERS, OFFICERS, AND CERTAIN OTHER EMPLOYEES ARE REQUIRED TO COMPLETE A FORM AND DISCLOSE ANY CONFLICTS. ALL DISCLOSURES ARE REVIEWED AND ABATED BY REMOVING THE EMPLOYEE FROM THE SITUATION TO ENSURE THAT AN ARM'S LENGTH TRANSACTION TAKES PLACE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCEDURES: PROCESS FOR DETERMINING COMPENSATION: THE COLLEGE BOARD OF TRUSTEES HAS DELEGATED THE IMPLEMENTATION OF PRACTICES AS IT RELATES TO EXECUTIVE COMPENSATION TO THE COMPENSATION COMMITTEE. ON AN ANNUAL BASIS, HUMAN RESOURCES PREPARES SALARY AND PEER DATA COLLECTED THROUGH H.R., SURVEYS, ETC. FOR BOTH THE PRESIDENT AND OTHER OFFICERS. THE PRESIDENT OF THE COLLEGE MAKES A RECOMMENDATION TO THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FOR OFFICERS OF THE COLLEGE BASED ON THE RELEVANT DATA, MARKET ANALYSIS, PEER DATA, ETC. THE COMPENSATION COMMITTEE IS PROVIDED LEEWAY TO DEVIATE FROM THE RECOMMENDATION WHERE OTHER CONSIDERATIONS ARE RELEVANT AND APPROVES THE OFFICER SALARIES. ON AN ANNUAL BASIS, THE COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE, AS WELL AS THE SALARY AND PEER DATA COLLECTED THROUGH H.R., SURVEYS, ETC. AS IT RELATES TO THE PRESIDENT OF THE COLLEGE AND WILL APPROVE ANY ADJUSTMENTS TO THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC ACCESS TO DOCUMENTS: FINANCIAL STATEMENT DATA IS INCLUDED IN THE ANNUAL INFORMATION RETURN (FORM 990) AND THE INFORMATION IS MADE PUBLIC. POLICIES CAN BE FOUND ON THE COLLEGE'S WEBSITE. THE COLLEGE'S CHARTER IS FILED WITH NEW YORK STATE. FORM 990, PART VIII, LINE 2 AUXILIARY ENTERPRISES UNRELATED BUSINESS REVENUES: SKIDMORE COLLEGE HAS HAD LONG TERM RELATIONSHIPS WITH MANY CULTURAL INSTITUTIONS THAT BRING THEIR ACTIVITIES TO SARATOGA SPRINGS DURING THE SUMMER. THESE INSTITUTIONS INCLUDE DANCE COMPANIES, ORCHESTRAS, BALLET COMPANIES, AND OTHER ARTIST GROUPS. THESE ACTIVITIES ENRICH THE CULTURAL LIFE AT SKIDMORE AND THE COMMUNITY AND ARE A SIGNIFICANT PART OF THE EDUCATIONAL EXPERIENCE AT SKIDMORE. THE COLLEGE DERIVES REVENUE FROM MAKING ITS FACILITIES AVAILABLE TO THE VISITING ARTISTS AND THEIR STAFF. THE EXPENSES AND DEDUCTIONS ASSOCIATED WITH THESE REVENUES HAVE EXCEEDED THE REVENUES. THESE ACTIVITIES ARE NOT REPORTED AS UNRELATED BUSINESS INCOME SINCE THEY CONTRIBUTE IMPORTANTLY TO THE EDUCATIONAL MISSION OF THE COLLEGE. REVENUES FROM THESE SUMMER PROGRAMS, COMPRISED OF ROOM AND BOARD CHARGES AND FEES, WERE $2,130,955 DURING THIS REPORTING PERIOD. THE COLLEGE ALSO DERIVES SMALL AMOUNTS OF REVENUE FROM SOME UNRELATED ACTIVITIES CARRIED ON AS PART OF THE LARGER EXEMPT FUNCTION ACTIVITIES. THESE REVENUES COVER PART OF THE COLLEGE'S FIXED AND VARIABLE COSTS ASSOCIATED WITH THESE ACTIVITIES BUT THE EXPENSES AND COSTS PROPERLY ALLOCABLE TO THESE ACTIVITIES HAVE GENERALLY EXCEEDED THE REVENUES. REVENUES IN THIS CATEGORY IN THE CURRENT REPORTING PERIOD INCLUDE $20,287 FROM RENTAL OF EXCESS CAPACITY IN THE STABLES, $297,384 FROM THE SURREY-WILLIAMSON INN, AND $84 FROM THE TANG MUSEUM SHOP AT SKIDMORE. THE NET LOSSES FROM THESE ACTIVITIES HAVE NOT BEEN REPORTED AS UNRELATED BUSINESS INCOME OR LOSS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -484,528. DEBT ISSUANCE COSTS AMORTIZATION 464,134. PENSION AND POST-RETIREMENT BENEFIT ADJUSTMENTS 449,240. CHARITABLE REMAINDER TRUSTS (12) INVESTMENT NY VARIOUS 0 CHARITABLE GIFT ANNUITIES (136) INVESTMENT NY VARIOUS 0 POOLED INCOME FUND (16) INVESTMENT NY VARIOUS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0