Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
Purchase Senior Learning Community Inc.
990 • Fiscal year 2019 • EIN 61-1816180
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.05x
Liabilities / Revenue
94th percentile
Higher debt load relative to revenue than 94% of similar nonprofits.
Net Margin
3rd percentile
Higher net margin than 3% of similar nonprofits.
Top Officer Pay
23rd percentile
Higher top officer pay than 23% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
99th percentile
Faster asset growth than 99% of similar nonprofits.
Revenue Growth
91st percentile
Faster revenue growth than 91% of similar nonprofits.
Balance Sheet
Assets
Up$18,422,597
Up $17,821,878 (+2967%) from 2018
Net Assets
Down-$966,972
Down $1,205,579 (-505%) from 2018
Liabilities
Up$19,389,569
Up $19,027,457 (+5255%) from 2018
Revenue And Expenses
Revenue
Up$1,035,021
Up $435,021 (+73%) from 2018
Expenses
Up$2,084,144
Up $1,722,751 (+477%) from 2018
Net Income
Down-$1,049,123
Down $1,287,730 (-540%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2018 to Jun 30, 2019
- Signed
- Jul 11, 2021
- Return Version
- 2018v3.2
- Gross Receipts
- $1,035,021
Mission and Program Overview
Mission
To develop and operate a senior learning housing community on land leased from the state university of new york on the purchase college campus.
To develop & operate a senior learning housing community on the grounds of suny, purchase college.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $0 | $12,709,387 | ▲ $12,709,387 |
| Land, Buildings, and Equipment, Net | $0 | $3,194,773 | ▲ $3,194,773 |
| Cash and Non-Interest-Bearing Accounts | - | $64,357 | - |
| Prepaid Expenses and Deferred Charges | $719 | $3,661 | ▲ $2,942 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Rtn Earn Endowment Incm Other Fnds | $238,607 | $-966,972 | ▼ $1,205,579 |
| Total Assets | $600,719 | $18,422,597 | ▲ $17,821,878 |
| Other Assets Total | $600,000 | $2,450,419 | ▲ $1,850,419 |
| Liabilities | |||
| Tax Exempt Bond Liabilities | $0 | $14,001,910 | ▲ $14,001,910 |
| Other Liabilities | $27,523 | $3,606,376 | ▲ $3,578,853 |
| Accounts Payable and Accrued Expenses | $334,589 | $1,781,283 | ▲ $1,446,694 |
| Total Liabilities | $362,112 | $19,389,569 | ▲ $19,027,457 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $238,607 | $-966,972 | ▼ $1,205,579 |
| Total Liabilities and Net Assets / Fund Balance | $600,719 | $18,422,597 | ▲ $17,821,878 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | $3,194,773 | - | $3,194,773 |
| Other Assets Org | $2,438,500 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Thomas Schwarz | Chairman/president |
| Barry Pearson | Vice Chairman |
| Wayne Rush | Vice President |
| Carl Austin | Board Member |
| Earle Yaffa | Board Member |
| Ernie Palmieri | Board Member |
| Kevin Plunkett | Board Member |
| Robert Weinberg | Board Member |
| Elizabeth Robertson | Secretary |
| Judith Nolan | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Lcsd-scd Partners LLC | Development Management Services | 400 LOCUST STREET SUITE 820, Des Moines, IA 50309 | $986,427 |
| Hcm Design INC | Technical Services | 700 EAST PRATT STREET SUITE 1200, Baltimore, MD 21202 | $438,978 |
| Glynndevins INC Dba Glynndevins | Marketing Svcs. | 8880 WARD PKWY SUITE 400, Kansas City, MO 64114 | $291,278 |
| Delbello Donnellan Weingarten Wise Wied | Legal Services | ONE NORTH LEXINGTON AVENUE 11TH FL, White Plains, NY 10601 | $104,053 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $851,547
- Program Service Revenue
- $0
- Investment Income
- $183,474
- Other Revenue
- $0
- Change in Net Assets
- $-1,049,123
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $1,035,021
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $180,338
- Total Revenue per Audited Statements
- $1,215,359
- Total Revenue per Form 990
- $1,035,021
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $2,084,144 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | - | $1,421,729 | - | $1,421,729 |
| Advertising | - | $275,049 | - | $275,049 |
| Fees for Services Legal | - | $203,072 | - | $203,072 |
| Interest | - | $128,360 | - | $128,360 |
| Travel | - | $43,380 | - | $43,380 |
| Office Expenses | - | $12,554 | - | $12,554 |
| Total Functional Expenses | $0 | $2,084,144 | $0 | $2,084,144 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $2,420,938 |
| Expenses per Audited Statements | $2,084,144 |
| Total Expenses per Form 990 | $2,084,144 |
| Expenses Not Reported on Form 990 | $336,794 |
| Expenses Not Reported on Financial Statements | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Refundable Entrance Fees | $2,438,500 |
| Accrued Interest | $1,150,998 |
| Due to Affiliate | $16,878 |
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | Westchester County Local Development Corporation | 2018-10-25 | $15,000,000 | Pre-development activities of senior living facility |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | $15,000,000 | $300,000 | - | $300,000 |
Bond Financing Compliance
- No rebate due
- No
- Rebate not yet due
- Yes
- Form 8038-T filed
- No
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Exception to rebate
- No
- Corrective action procedures
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“The membership of the corporation shall consist of one member: purchase college advancement corporation.”
Form 990, Part VI, Section A, Line 7A
“The member shall designate and elect the directors of the corporation.”
Form 990, Part VI, Section A, Line 7B
“The member shall establish, and amend as necessary, the by-laws of the corporation.”
Form 990, Part VI, Section B, Line 11B
“The form 990 is first reviewed by the manager of finance and the director of finance for campus foundations and related entities. Pending their approval, and prior to filing, the form 990 is provided electronically to the full board for comments or questions.”
Form 990, Part VI, Section B, Line 12C
“The conflict of interest policy provides for annual written acknowledgement by each trustee or officer that each has read and is familiar with the conflict-of-interest policy and as to whether or not the trustee or officer has a conflict of interest. If a conflict exists, the complete details of the conflict are to be described in writing and submitted to the board chair or the president. The board chair or president shall refer the issue to the executive committee, or other board committee having decision-making authority over the substantive matter in question. The trustee or officer who discloses a direct or indirect financial interest in a proposed or existing contract, transaction, or arrangement may make a presentation and respond to questions by the body, but after such presentation, he or she shall leave the meeting during the discussion of, and vote on, the contract, transaction, or arrangement that results in the conflict of interest. Each year at the board of trustees' annual meeting, the conflict of interest policy is distributed and written acknowledgements submitted during the course of the year, financial results and transactions are reviewed for reasonableness and appropriateness, including with regard to any potential for there being a conflict. The conflict of interest policy expressly states that family and business relationships may be sources of potential conflicts.”
Form 990, Part VI, Section C, Line 19
“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”
Filing and Contact Details
Filer
- Filer Name
- Purchase Senior Learning Community Inc
- EIN
- 61-1816180
- Phone
- 9142516000
- Address
- 735 ANDERSON HILL ROAD, PURCHASE, NY 10577
Signing Officer
- Name
- Judith J Nolan
- Title
- Treasurer
- Phone
- 9142516000
- Signed
- 2021-07-11
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Judith J Nolan
- Formed
- 2016
- Legal Domicile
- Ny
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 0
- Volunteers
- 9
Preparer
- Firm
- Baker Tilly Virchow Krause Llp
- Address
- 221 W PHILADELPHIA ST STE 200, YORK, PA 17401
- Preparer
- Kerri N Bogda CPA
- Phone
- 7178467000
Supplemental Narrative
Additional Explanations
AMENDED RETURN EXPLANATION:
“This return is being amended to reflect the addition of schedule k. The original return was filed indicating a taxable bond liability. It was subsequently brought to the taxpayer's attention that the bonds were, in fact, tax-exempt. The taxpayer immediately amended the return to ensure the organization remained in compliance with its federal filing requirements.”
FORM 990, PART XI, LINE 9:
“Transfer to affiliate -156,456.”
Financial Statement Notes
PART X, LINE 2:
“Purchase senior learning community inc. Accounts for uncertainty in income taxes recognized in the consolidated financial statements using a recognition threshold of more likely than not as to whether the uncertainty will be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined there were no tax uncertainties that met the recognition threshold.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Transfer to affiliates -156,456.”
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Desc | 0 | THE PURCHASE COLLEGE ADVANCEMENT CORPORATION (PCAC), A MEMBER-LESS NEW YORK STATE NOT-FOR-PROFIT CORPORATION WITH FEDERAL 501(C)(3) DESIGNATION, WAS FORMED TO DEVELOP AND OPERATE A SENIOR LIVING AND LEARNING COMPLEX TO BE BUILT ON THE CAMPUS OF PURCHASE COLLEGE, STATE UNIVERSITY OF NEW YORK (SUNY), ON LAND LEASED FROM SUNY. USING A $5,250,000 GRANT FROM PURCHASE COLLEGE FOUNDATION HOUSING CORPORATION (PCFHC), PCAC STEWARDED THE ENABLING LEGISLATION, MARKET RESEARCH, DESIGN, AND CONTRACTUAL ARRANGEMENTS WITH THE VARIOUS PROJECT CONSULTANTS AND WITH AN OPERATIONS MANAGER.KEY PROVISIONS OF THE ENABLING LEGISLATION INCLUDE GIVING PCAC THE RIGHT TO CONSTRUCT UP TO 385 LIVING UNITS, OF WHICH 20% ARE TO BE AFFORDABLE TO RESIDENTS WHO EARN 80% OR LESS OF THE WESTCHESTER COUNTY MEDIAN INCOME, AND THAT THE PROCEEDS ARE TO BE USED BY THE COLLEGE, DIVIDED 75% FOR SCHOLARSHIPS AND 25% FOR NEW FULL TIME FACULTY.PCAC CREATED A SEPARATE NEW YORK STATE NOT-FOR-PROFIT CORPORATION, PURCHASE SENIOR LEARNING COMMUNITY INC. (PSLC), WHOSE SOLE MEMBER IS PCAC. PSLC HAS ALSO RECEIVED 501(C)(3) DESIGNATION BY THE INTERNAL REVENUE SERVICE. PSLC WILL BE THE SPONSOR OF THE COMMUNITY, IS THE OBLIGOR OF THE TAX-EXEMPT BOND FINANCING, AND IS THE SUB-LESSEE OF THE LAND. AS OF MAY 2018, ALL CONTRACTS AND WORK PRODUCTS HAVE BEEN TRANSFERRED FROM PCAC TO PSLC.IN OCTOBER, 2018, PSLC RAISED $15,000,000 IN BOND ANTICIPATION NOTE FUNDS WHICH ARE BEING USED TO COMPLETE THE REMAINDER OF THE PRE-DEVELOPMENT AND PRE-MARKETING EFFORTS, AT WHICH TIME PSLC WILL SEEK TO RAISE PERMANENT FINANCING BY ISSUANCE OF TAX-EXEMPT BONDS THROUGH THE WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION.THE COMMUNITY'S OFFERING PLAN HAS BEEN APPROVED BY THE NEW YORK STATE ATTORNEY GENERAL. WITH THIS APPROVAL IN PLACE, PSLC HAS BEEN PERMITTED TO BEGIN MARKETING THE PROJECT. BY THE CLOSE OF FYE JUNE 30, 2019, EIGHTEEN DEPOSITS IN THE AMOUNT OF 10% OF A UNIT'S ENTRANCE FEE WERE RECEIVED.THE GOALS OF THE COMMUNITY ARE TO SUPPORT THE EDUCATION MISSION OF THE COLLEGE THROUGH THE PROVISION OF REVENUE TO FUND SCHOLARSHIPS FOR STUDENTS, TO ENHANCE THE COLLEGE'S ABILITY TO COMPETE FOR FACULTY DEDICATED TO TRANSFORMATIVE ENGAGEMENT WITH THE STUDENT BODY, AND TO CREATE AN ENVIRONMENT FOSTERING INQUIRY BASED, INTERGENERATIONAL LEARNING THAT NOT ONLY SUSTAINS LIFE, BUT IMPROVES IT FOR ALL INVOLVED, ALL IN FURTHERANCE OF THE PURPOSES AND OBJECTIVES OF THE ENABLING LEGISLATION.WITH THE ADDITION OF THE RESIDENTS OF THE SENIOR LIVING COMMUNITY, THE COLLEGE WILL BECOME A CENTER FOR LIFE-LONG LEARNING. IT WILL OFFER STUDENTS OF ALL AGES UNIQUE, NON-CONVENTIONAL ACCESS TO OPPORTUNITIES FOR INTELLECTUAL AND SOCIAL GROWTH THROUGH ACADEMIC, CULTURAL AND SOCIAL ACTIVITIES. |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | JUDITH NOLAN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | ROBERT WEINBERG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | THOMAS SCHWARZ |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | ERNIE PALMIERI |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | KEVIN PLUNKETT |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | WAYNE RUSH |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | VICE CHAIRMAN |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | CHAIRMAN/PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | VICE PRESIDENT |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2016 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 9 |
| IRS990/GrantAmt | 0 | 0 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 1035021 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 9 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 128360 |
| IRS990/InterestGrp/TotalAmt | 0 | 128360 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 183474 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 183474 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 3 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 3194773 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 3194773 |
| IRS990/LegalDomicileStateCd | 0 | NY |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO DEVELOP AND OPERATE A SENIOR LEARNING HOUSING COMMUNITY ON LAND LEASED FROM THE STATE UNIVERSITY OF NEW YORK ON THE PURCHASE COLLEGE CAMPUS. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 238607 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -966972 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 1421729 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 1421729 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 12554 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 12554 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 600000 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 2450419 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -156456 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 27523 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 3606376 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 719 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 3661 |
| IRS990/PrincipalOfficerNm | 0 | JUDITH J NOLAN |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 600000 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 361393 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 238607 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 361393 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 600000 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -1049123 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RelatedOrganizationsAmt | 0 | 851547 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 520268 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 238607 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | -966972 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 12709387 |
| IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/First5Years509Ind | 0 | X |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 851547 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 600000 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 1451547 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 183474 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 183474 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 183474 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 183474 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 1451547 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 851547 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 600000 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 1451547 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 1035021 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 600000 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 1635021 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/DonatedServicesAndUseFcltsAmt | 0 | 336794 |
| IRS990ScheduleD/DonatedServicesUseFcltsAmt | 0 | 336794 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 336794 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 2084144 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 11919 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 2438500 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | SECURITY DEPOSIT |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | REFUNDABLE ENTRANCE FEE |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 3194773 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 3194773 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 16878 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 2438500 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 1150998 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO AFFILIATE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | REFUNDABLE ENTRANCE FEES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | ACCRUED INTEREST |
| IRS990ScheduleD/OtherRevenueAmt | 0 | -156456 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 180338 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 1035021 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | PURCHASE SENIOR LEARNING COMMUNITY INC. ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT AS TO WHETHER THE UNCERTAINTY WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | TRANSFER TO AFFILIATES -156,456. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 3194773 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 2450419 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 2084144 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 3606376 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1035021 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 1215359 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 2420938 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | 0 |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 0 | THE FILING ORGANIZATION UNDERSTANDS AND RESPECTS THE MANY REGULATIONS THAT ARE ASSOCIATED WITH TAX-EXEMPT BOND ISSUANCES. THE ORGANIZATION IS A PRUDENT AND CONSCIENTIOUS TAXPAYER AND FOLLOWS ALL APPLICABLE RULES AND REGULATIONS. THE ORGANIZATION HAS NOT ESTABLISHED WRITTEN POLICIES BUT IS SCRUPULOUS AND RESPONSIBLE IN MAINTAINING ITS BOND ISSUE PROPERLY. |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, SCHEDULE K, PART III, LINE 9, PART IV, LINE 7, PART V: |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2018-10-25 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 455135576 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum | 0 | 95737TDW3 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 15000000 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | PRE-DEVELOPMENT ACTIVITIES OF SENIOR LIVING FACILITY |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusConcerningUBIPct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt | 0 | 2043776 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt | 0 | 1150998 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt | 0 | 300000 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt | 0 | 300000 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr | 0 | 2021 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt | 0 | 15000000 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt | 0 | 12656224 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THIS RETURN IS BEING AMENDED TO REFLECT THE ADDITION OF SCHEDULE K. THE ORIGINAL RETURN WAS FILED INDICATING A TAXABLE BOND LIABILITY. IT WAS SUBSEQUENTLY BROUGHT TO THE TAXPAYER'S ATTENTION THAT THE BONDS WERE, IN FACT, TAX-EXEMPT. THE TAXPAYER IMMEDIATELY AMENDED THE RETURN TO ENSURE THE ORGANIZATION REMAINED IN COMPLIANCE WITH ITS FEDERAL FILING REQUIREMENTS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE MEMBERSHIP OF THE CORPORATION SHALL CONSIST OF ONE MEMBER: PURCHASE COLLEGE ADVANCEMENT CORPORATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE MEMBER SHALL DESIGNATE AND ELECT THE DIRECTORS OF THE CORPORATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE MEMBER SHALL ESTABLISH, AND AMEND AS NECESSARY, THE BY-LAWS OF THE CORPORATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE FORM 990 IS FIRST REVIEWED BY THE MANAGER OF FINANCE AND THE DIRECTOR OF FINANCE FOR CAMPUS FOUNDATIONS AND RELATED ENTITIES. PENDING THEIR APPROVAL, AND PRIOR TO FILING, THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE FULL BOARD FOR COMMENTS OR QUESTIONS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE CONFLICT OF INTEREST POLICY PROVIDES FOR ANNUAL WRITTEN ACKNOWLEDGEMENT BY EACH TRUSTEE OR OFFICER THAT EACH HAS READ AND IS FAMILIAR WITH THE CONFLICT-OF-INTEREST POLICY AND AS TO WHETHER OR NOT THE TRUSTEE OR OFFICER HAS A CONFLICT OF INTEREST. IF A CONFLICT EXISTS, THE COMPLETE DETAILS OF THE CONFLICT ARE TO BE DESCRIBED IN WRITING AND SUBMITTED TO THE BOARD CHAIR OR THE PRESIDENT. THE BOARD CHAIR OR PRESIDENT SHALL REFER THE ISSUE TO THE EXECUTIVE COMMITTEE, OR OTHER BOARD COMMITTEE HAVING DECISION-MAKING AUTHORITY OVER THE SUBSTANTIVE MATTER IN QUESTION. THE TRUSTEE OR OFFICER WHO DISCLOSES A DIRECT OR INDIRECT FINANCIAL INTEREST IN A PROPOSED OR EXISTING CONTRACT, TRANSACTION, OR ARRANGEMENT MAY MAKE A PRESENTATION AND RESPOND TO QUESTIONS BY THE BODY, BUT AFTER SUCH PRESENTATION, HE OR SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE CONTRACT, TRANSACTION, OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. EACH YEAR AT THE BOARD OF TRUSTEES' ANNUAL MEETING, THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED AND WRITTEN ACKNOWLEDGEMENTS SUBMITTED DURING THE COURSE OF THE YEAR, FINANCIAL RESULTS AND TRANSACTIONS ARE REVIEWED FOR REASONABLENESS AND APPROPRIATENESS, INCLUDING WITH REGARD TO ANY POTENTIAL FOR THERE BEING A CONFLICT. THE CONFLICT OF INTEREST POLICY EXPRESSLY STATES THAT FAMILY AND BUSINESS RELATIONSHIPS MAY BE SOURCES OF POTENTIAL CONFLICTS. |
Document Assets
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Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $18,422,597
- Liabilities
- $19,389,569
- Net assets
- -$966,972
- Revenue
- $1,035,021
- Expenses
- $2,084,144
- Net income
- -$1,049,123