Saint Michael'S College

“Form 990, part i, line 1 and part iii, line 1 saint michael's college is a catholic liberal arts residential college committed to the pursuit of academic excellence, with an undergraduate enrollment of approximately 1,700 students and 250 graduate and international students. We create and sustain an optimal living and learning environment that promotes a vibrant intellectual life and challenges students to engage in activities to extend their minds and experience within and beyond our vermont location.”

“Form 990, Part III, Lines 4A The academic program is at the heart of the College's Mission and the reason for Saint Michael's College existence. The College provides education with a social conscience, producing graduates with intellectual tools to lead successful, purposeful lives that will contribute to peace and justice in our world. Saint Michael's College students personalize their education through research, internships, and small classes, preparing them for a lifetime, not just for their first job out of college. The academic program is rigorous and calibrated to the appropriate developmental levels of students (first-year students through graduate level). The undergraduate academic program offers degrees in 23 different majors for the Bachelor of Arts Degree and 14 majors for the Bachelor of Science Degree. Students may also choose from 39 minor programs. The academic program for graduate students includes 3 programs leading to Master's degrees in Clinical Psychology, Education and Teaching English to Speakers of Other Languages. Saint Michael's College awarded 516 Bachelor's degrees, 64 Master's degrees, and 5 post Master's certificates during the 2018-2019 academic year; 89 of the Baccalaureate students graduated with double majors for a total of 417 students completing degrees. Our final 12-month enrollment for 2018-2019 totaled 1794 FTE students enrolled in Baccalaureate degree programs and 183 FTE in Master's degree programs. Our "First Destinations" survey for the baccalaureate class of 2018 (80% knowledge rate) revealed that 78% of respondents were employed, volunteering, or attending graduate school full-time, with another 25% engaged in similar roles on a part time basis. Sums exceed 100% as respondents are sometimes engaged in more than one category - but most importantly, only 5.1% of our graduates were still seeking employment six months after graduation. Our 4 year average (2010-2013) student-right-to-know completion or graduation rate is 79% based on our most recent federal data submissions (Winter 2019-2020). For comparison, the most current National Center for Education statistics data, for the cohort entering in fall 2011, indicates an average 66% graduation rate for private non-profit colleges. The equivalent 150% (6 year) graduation rate for the same period at Saint Michael's College was 78%. The College's goal is to have at least 30% of each graduating class participate in credit-bearing programs abroad. Working with over 15 study abroad partner organizations, students have more than 60 countries from which to choose a variety of study abroad options. The College has exceeded its 30% goal for the past 5 academic years. The College has made strides in educating students beyond the classroom in preparation for their careers after graduation. The College has developed a Life After College program as part of our current strategic plan, which includes development of a cohesive student employment program and a more extensive focus on internships. Our recent Saint Michael's College Alumni Study (published by Gallup (c) 2016) emphasizes the importance of experiential learning as a key driver of students' lifetime well-being and engagement. During the last three summers 2016-2018, an average of 40 students were engaged in independent research with professors applying classroom learning to real-world case studies. The College has a robust honors program which began in the late 1980's, and recognizes high achievement among our students. In 2019, 48 students or 11% of the senior class, graduated in the honors program. In the fall of 2018, 476 students from all four classes, about 28% of the student body, were members of the honors program. The College is part of the nation's oldest and largest liberal arts academic honor society, Phi Beta Kappa. Only about ten percent of institutions of higher education have chapters. With 290 chapters nationwide, Saint Michael's College is one of only 25 Catholic Colleges in t”

“Form 990, Part III, Line 4B As a 100% residential college, we make living on campus just as important a learning experience as the curriculum in the classrooms. Therefore, in addition to expenses associated with on-campus dining services, auxiliary services expenses include residence hall bond interest, depreciation expense and costs related to the bookstore, printing and mailing services, special events, summer playhouse and other auxiliary programs that support our students' living and learning experience. As part of the residential experience, there are unique housing options available on campus based on common interests that students share such as GREAT Housing (Alcohol and Drug Free) with 128 students, honors housing (50 students) and the GEAR (Global Experience Academic Residential) Program housing (124 students) which provides an opportunity for U.S. students to live with international students. Dining on campus provides the social experience essential to a well-rounded campus life.”

“Form 990, Part III, Line 4C Students are at the center of the College's Mission. While the academic elements are foremost, supporting the students' personal development is vital as well. The offices of admissions, student life, Edmundite Campus Ministry, Adventure Sports Center, athletics and many student clubs work to enhance students' personal growth as well as their academic success. To supplement the academic culture on campus and enrich overall quality of the college experience, a variety of weekend programs is offered to students, along with many outdoor programs such as the ski pass, a variety of ministry programs, and community service opportunities through Move (Mobilization of Volunteer Efforts). Approximately 80% of students are involved in some form of intercollegiate, intramural, club, recreation, personal fitness, or Adventure Sports Center offering. Approximately 25% of Saint Michael's College students participate in one of the 21 varsity sports. Our student athletes have achieved a 97% academic success rate (ASR); a statistic defined by the NCAA as a measurement of graduation within a 6 year cohort time period as of June 2019. Saint Michael's College has again been recognized as a recipient of the Division II Presidents' Award for Academic Excellence as a member of the Northeast-10 Conference. SMC achieved the second highest ASR in the conference this year, having finished among the league's Top Two for the 13th consecutive year (#1 nine times). It's the 12th straight year that Saint Michael's has ranked among the Top Four (of 325) NCAA Division II colleges and universities in the nation (#1 three times). The office of student activities strives to provide students opportunities to develop as ethical leaders and engaged citizens, and offers a wide variety of programs and activities designed to meet their needs. The College has embraced the You Count program (Community, Ownership, Unity in Diversity, Notice Each Other and Take Care of Self and others) which fosters an inclusive and seamless learning environment that enhances engagement, awareness and personal development. Educational programs offered in the residence halls help to bring people together who might not have otherwise met, help people to better know each other, and expose individuals to new ideas and beliefs. Floor visitors dialogue programs provide an environment conducive for faculty, staff and student dialogue about academic and community pursuits. These are a sample of the programming offered to students in the residence halls. The office of student activities assists the student government on campus as well as student clubs. Approximately 95% of the student population participates in student activities programs. The College embraces and supports students' commitment to community services reflected by the fact that about 65% of our students participate in a service activity through our MOVE program - part of Edmundite Campus Ministry. The fundamental objective of Edmundite Campus Ministry is to help students, faculty and staff reflect on and celebrate the spiritual and religious dimensions of their lives while at Saint Michael's College. Programs such as retreats, liturgies, spiritual direction, and prayerful reflection meals are designed to encourage everyone to step back and experience life at its deepest, most meaningful level. About 12% of our student population is involved in weekly or daily worship as well as attendance in these programs. Other Program Services Form 990, Part III, Line 4D Other program service expenses include public service and research.”

“Form 990, Part VI, Section B, Line 11 Form 990 schedules are prepared by College personnel with guidance and review from external tax preparers who sign and file the form. Prior to filing with the Internal Revenue Service each member of the Board of Trustees was provided Form 990 and all schedules, except Schedule B, contribution detail, in order to respect our donors confidentiality.”

“Form 990, part vi, section b, line 12c the secretary of the college distributes the conflict of interest policy, questionnaire and certification annually to trustees, officers and key employees. The secretary reviews the responses and potential conflicts are brought to the trusteeship and mission committee for review and resolution. A list of interlocking boards is maintained to assist in determining if potential conflicts arise during the year. The trusteeship and mission committee submits names for board recruitment and vets any conflict issues. This committee provides information to the executive committee for consideration and nomination.”

“Form 990, part vi, section b, line 14 the college has a high-level document retention and destruction policy and follows specific guidelines provided by the internal revenue service and relevant regulations with respect to records retention and destruction, including the provisions of vermont law (9 vsa part 3 chapter 62 subchapter 4 document safe destruction act) with respect to disposal of documents containing confidential information. Another resource utilized by the college is "record retention and disposal: a manual for college decision makers", which provides the college with a guide to the applicable laws, regulations and other considerations for all areas of our business, including employment and admissions applications, payroll, student records, financial, tax and contributions records as well as federal reporting specific to the higher education industry.”

“Form 990, part vi, section b, line 15 the executive committee of the board of trustees, excluding the college president, is responsible for establishing and maintaining a competitive compensation program for the executive officers of the college. The executive committee meets as needed to review the compensation program and make recommendations for any changes. The executive committee has the responsibility for decisions regarding compensation in all its current and potential forms for the executive officers of the college. The vice president of human resources provides independent compensation data, e.g. Nacubo, cupa, etc. And analysis to the executive committee. The executive committee meets annually to review survey data regarding compensation for the president and other officers of the college. The meeting was on october 18, 2017 for the fiscal year included in this return. The college complies with the three requirements of the rebuttable presumption standard, as outlined in treasury regulations section 53.4958-6: (1) executive compensation is authorized by an independent committee of the board of directors, (2) the committee authorizing executive compensation obtains and relies on appropriate data as to comparability prior to making determinations, and (3) the committee adequately documents the basis for determinations concurrently with making the determinations.”

“Form 990, part vi, section c, line 19 the college is a private organization and therefore by law, is not required to make its governing documents, conflict of interest policy or financial statements available to the public. In the interest of transparency, the college complies with requests for this information from the federal and state regulatory agencies, our accreditation agency and other entities or individuals in the ordinary course of business. The college posts the most recent three years of form 990 and 990-t on our website.”

“Form 990, part x, lines 27, 28, and 29 the college has adopted fasb asu 2016-14, presentation of the financial statements of not-for-profit entities. As a result, the june 30, 2019 audited financial statements classify net assets as either net assets without donor restrictions, or net assets with donor restrictions. For purposes of form 990, part x, lines 27, 28, and 29, the college has reported net assets without donor restrictions as unrestricted net assets and net assets with donor restrictions as permanently restricted net assets and temporarily restricted net assets, respectively.”

“Form 990, part xi, line 9 system conversion costs $(2,348,129) other costs $( 15,000) ------------ total $(2,363,129)”