Marist University

“Form 990, part iii, line 4a founded in 1929, marist's 228-acre campus overlooks the hudson river in the heart of the historic hudson valley and is situated midway between new york city and albany, the state capital. What started as a school for the training of future marist brothers has developed into one of the most selective colleges in the nation. Marist is ecumenical in character and reflects the ideals of the marist brothers' founder, st. Marcellin champagnat: commitment to excellence in education, the importance of community, and dedication to the principle of service. Marist college is dedicated to the development of the whole person in a way that will prepare our graduates to lead enlightened, ethical, and productive lives in the global community of the 21st century. Effective january 2018, the college assumed control of the operations of sprout creek farm inc. ("sprout creek") a not-for-profit organization in lagrange, new york. Several officers of the college also serve as officers of sprout creek. In april 2020, the college determined the farm could not sustain its operation. The board of directors are evaluating several options for the future of the farm.”

“Students are housed using a "rites of passage" philosophy, which recognizes that a student's development should be supported by his/her living environment, another large auxiliary function includes food service through both a resident and retail dining program. The resident dining operation provides food on a daily basis to over 3,000 participants. The campuss six retail cafes offer a wide selection of hot and cold drinks, soups, salads, sandwiches, and snacks. The campus dining experience is focused on culinary expertise, fresh local and regional ingredients, healthy options, and a shared sense of environmental and social responsibility. Other campus auxiliary services include a bookstore, computer store, and a campus/community debit card account known as marist money. Throughout all of the college's auxiliary services, an emphasis is placed on promoting sustainable practices where applicable and include, but are not limited to, educating faculty, staff, and students about the impact of their actions on the environment; identifying, establishing, and publicizing sustainability principles, goals, and best practices; providing a framework for guiding sustainable procedures, programs, and initiatives; and monitoring and reporting progress on campus sustainability initiatives.”

“Form 990, part v, line 1a marist college is reporting the number from form 1096, box 3, less the amount of forms 1098-t provided to students during the year. For 2019, there were 7,001 forms 1098-t issued.”

“Form 990, part vi, line 11b the organization's form 990 is presented to the audit committee by the independent accounting firm and reviewed by the board of trustees prior to filing.”

“Form 990, part vi, line 12c as an on-going practice and as required by our code of ethics, all trustees are required to complete conflict of interest statements on an annual basis in which they are asked to discuss any business relationships they or a member of their families have with the college. The audit committee reviews these statements for compliance annually. Our code of ethics also requires that all executives, deans and selected staff with fiscal responsibilities for the college complete a conflict of interest statement annually. Completed statements that indicate a potential conflict of interest are reviewed by the chief financial officer, vice president for human resources, and the executive vice president. If a conflict exists, appropriate action is taken to ensure full disclosure or termination of the arrangement.”

“Form 990, part vi, line 15a the compensation and retirement program for the president was based on a comprehensive analysis conducted by an independent executive compensation consulting firm. The president's contract was recommended by the executive committee of the board (responsible for presidential evaluation and compensation), and approved by the full board of trustees. The president's performance is reviewed on an annual basis by the executive committee of the board and changes in compensation are recommended to the full board for approval. The executive committee of the board bases its recommendations for adjustments on performance and a review of appropriate college and university personnel association (cupa) data on presidential compensation and the process and decision is contemporaneously documented in the minutes.”

“Form 990, part vi, line 15b senior officer compensation is established after a review of compensation data from cupa at private institutions of higher education based on annual budget size and enrollment. In addition to salary comparability at other institutions, performance and years of service in the position are also factors considered by the president in determining a senior officer's annual salary. Once the president has completed his review of senior officer compensation, the president's recommendations are brought to the board of trustees for review and approval.”

“Form 990, part vi, line 19 the college's governing documents are available upon request from the office of the chief financial officer. The financial statements and conflict of interest policy are available on the college's website at marist.edu.”

“Form 990, Part IX, Line 24c As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Marist College received a federal grant as part of the Higher Education Emergency Relief Fund (HEERF). The HEERF amount received of $1,161,525 is included on Part IX, Line 24c as Scholarship Expense and was distributed to 2,769 students.”

“Form 990, part xi, line 9 mrps net change in fixed assets $ (3,719,503) change in interest rate swap obligation, other $ (1,665,486) pension & post retirement changes $ 56,084 mrps depreciation $ (1,542,797) payment to beneficiaries $ (17,919) _____________ $ (6,889,621)”