Wagner College

“Form 990, schedule d, part v, line 4 wagner college maintains an endowment fund for all contributions to the college that are permanently restricted by the donor. Permanently restricted contributions are all gifts given to the college for which the donor instructs the college never to spend the original gift. Often, when contributors give permanently restricted gifts to the college, they will allow the income earned on the funds to be used for various purposes. Such income is classified as temporarily restricted endowment net assets; these assets are principally used for plant projects, land improvements, and various program support. Some of these assets may also be used for scholarships if so directed by the donor. Other temporarily restricted net assets may also be time restricted. The college's endowment consists of approximately 200 individual donor-restricted funds established for a variety of purposes. The college has an endowment spending policy for endowment funds that do not have a spending policy prescribed in the gift document. The college's endowment totals $79,383,453 as of august 31, 2014, of which $40,322,646 is classified as permanently restricted net assets, $13,831,198 is classified as temporarily restricted net assets, and $25,229,609 is classified as unrestricted net assets. The unrestricted endowment net assets represent board-designated endowment funds.”

“Part X, Line 2 THE COLLEGE HAS BEEN CLASSIFIED AS A SECTION 501(C)(3) ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AND SIMILAR PROVISIONS UNDER NEW YORK STATE TAX LAWS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD, AND APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. DURING THE YEARS ENDED AUGUST 31, 2014 AND 2013, THE COLLEGE EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT MEET THE CRITERIA UNDER THE STANDARD. THE TAX YEARS ENDING AUGUST 31, 2011, 2012, 2013, AND 2014 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. THE COLLEGE HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; IDENTIFY AND REPORT UNRELATED INCOME; DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND, IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS.”

“PART XI, Line 2d $201,401 REPRESENT THE TOTAL GAINS ON THE COLLEGE'S DERIVATIVE INSTRUMENT (INTEREST RATE SWAP) FOR THE FISCAL YEAR. PART XI, LINE 4B $33,127,504 REPRESENTS TOTAL SCHOLARSHIPS AND FELLOWSHIPS FOR THE FISCAL YEAR OF $33,180,586 LESS TOTAL EXPENSES RELATED TO THE GOLF CLASSIC FUNDRAISING EVENT OF $53,082 FOR THE FISCAL YEAR.”

“PART XII, lINE 4b $33,180,586 REPRESENTS TOTAL SCHOLARSHIPS AND FELLOWSHIPS FOR THE FISCAL YEAR.”