2024-05-14T12:57:28-05:00 2023-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-06-01 237223216 SARAH LAWRENCE COLLEGE SARA 9143952556 1 MEAD WAY BRONXVILLE NY 10708 ANDREW KANE VP OF FINANCE & OPERATIONS 9143952556 2024-05-14 1 ANDREW KANE XXX-XX-XXXX 1 DANIEL ROMANO P00504182 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CRISTLE COLLINS JUDD 1 MEAD WAY BRONXVILLE NY 107085999 1939602 0 X WWW.SARAHLAWRENCE.EDU X 1926 NY SARAH LAWRENCE COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE (CONTINUED ON SCHEDULE O) OFFERING SELECT GRADUATE PROGRAMS ON ITS MAIN CAMPUS IN BRONXVILLE, NY AND 4 UNDERGRADUATE GLOBAL STUDIES PROGRAMS. 24 22 0 0 0 0 8460822 1368740 113480698 11459 151656 530105 1006983 29298 123100159 1939602 43928042 168381 0 0 50046906 2804954 0 0 419727 37894839 2657364 131869787 5630699 -8769628 -3691097 294490115 299779457 102926983 106095939 191563132 193683518 X AT SARAH LAWRENCE COLLEGE, OUR MISSION IS TO GRADUATE CITIZENS OF THE WORLD WHO ARE DIVERSE IN EVERY DEFINITION OF THE WORD, WHO TAKE INTELLECTUAL AND CREATIVE RISKS, AND WHO ARE ABLE TO FOCUS EXCEPTIONAL INTELLECTUAL DISCIPLINE (CONTINUED ON SCHEDULE O) 0 0 3052670 168381 3875 UNDERGRADUATE PROGRAMS: THE FREEDOM TO STEER YOUR OWN EDUCATION HAS ALWAYS BEEN THE BASIS OF SARAH LAWRENCE'S ACADEMIC APPROACH. STUDENTS CREATE A COURSE OF STUDY THAT IS UNIQUELY THEIRS, BENEFITING FROM A 11:1 STUDENT-TO-FACULTY RATIO AND 1:1 CONFERENCES WITH FACULTY. STUDENTS ENGAGE IN A LEVEL OF INTELLECTUAL AND CREATIVE DEVELOPMENT THAT PREPARES THEM FOR A LIFE OF MEANING IN WHATEVER PROFESSIONAL PATHWAYS THEY CHOOSE. OUR 1,400 DEGREE-SEEKING STUDENTS CAN FOCUS IN ANY OF OUR NEARLY 50 DISCIPLINES ON OUR CAMPUS OR IN GLOBAL STUDIES PROGRAMS IN LONDON, OXFORD, PARIS, AND HAVANA. 1091350 0 7584 AUXILIARY ENTERPRISES: SARAH LAWRENCE COLLEGE PROVIDES STUDENTS WITH A WIDE RANGE OF LIVING AND DINING EXPERIENCES. ON-CAMPUS HOUSING FOR 1,080 STUDENTS INCLUDES MANY UNIQUE OPTIONS, FROM CONVERTED HOUSES TO TRADITIONAL SUITE-STYLE RESIDENCE HALLS. SARAH LAWRENCE DINING OPTIONS INCLUDE DINING-HALL, GRAB-AND-GO, AND CAFE STYLE FARE ACROSS A RANGE OF MEAL-PLANS. 376722 0 0 GRADUATE PROGRAMS: SARAH LAWRENCE COLLEGE OFFERS ITS 225 GRADUATE STUDENTS NINE DISTINCTIVE MASTER'S DEGREE AND VARIOUS NON-DEGREE AND CERTIFICATE PROGRAMS WHICH INCLUDE THE AREAS OF WRITING, THEATRE, WOMEN'S HISTORY, DANCE, CHILD DEVELOPMENT, ART OF TEACHING, HUMAN GENETICS, HEALTH ADVOCACY AND DANCE MOVEMENT THERAPY. 0 0 0 OTHER EDUCATIONAL PROGRAMS CONSISTING OF NON-CREDIT CONTINUING EDUCATION PROGRAMS, SPECIAL NON-CREDIT COURSES FOR ADULTS, (LANGUAGE, PHOTOGRAPHY, SWIMMING AND FITNESS, ETC.), WRITING INSTITUTE CLASSES, CERTIFICATE COURSES, AND EARLY CHILDHOOD PROGRAMS. 0 0 0 4520742 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 1 FR IT UK 0 0 0 1 1 0 0 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JEFFREY PETERSON - INTERIM CONTROLL 9143952556 1 MEAD WAY BRONXVILLE NY 107085999 X CRISTLE COLLINS JUDD PRESIDENT/TRUSTEE 40.00 0.00 X X 0 0 0 ELIZABETH JOHNSTON FACULTY/TRUSTEE 40.00 0.00 X 0 0 0 MERYL ROSEN CHAIR OF THE BOARD 2.00 0.00 X X 0 0 0 SHANLON WU VICE CHAIR 2.00 0.00 X X 0 0 0 TRACEI GORELICK AKARLILAR TRUSTEE 1.00 0.00 X 0 0 0 DIANA SANDIGO CABRERA TRUSTEE 1.00 0.00 X 0 0 0 KIM CASSIDY TRUSTEE 1.00 0.00 X 0 0 0 GWENDOLYN PERRY DAVIS TRUSTEE 1.00 0.00 X 0 0 0 SARAH GRAY GUND TRUSTEE (THRU 6/30/2023) 1.00 0.00 X 0 0 0 LEIGH HEYMAN TRUSTEE 1.00 0.00 X 0 0 0 MARILYNN HILL TRUSTEE 1.00 0.00 X 0 0 0 GREGG HOROWITZ TRUSTEE 1.00 0.00 X 0 0 0 CLARION JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 NEIL MAKHIJA TRUSTEE 1.00 0.00 X 0 0 0 ATADIKA NIRSCHL NOVISI TRUSTEE 1.00 0.00 X 0 0 0 PAMELA LUCAS REW TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN PILKINGTON TRUSTEE 1.00 0.00 X 0 0 0 TRACEY RIESE TRUSTEE 1.00 0.00 X 0 0 0 JOSEPH SAUVAGE TRUSTEE 1.00 0.00 X 0 0 0 WINIFRED SCHEUER TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL STUTZMAN TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL UNTERMEYER TRUSTEE 1.00 0.00 X 0 0 0 PETER VAN DIJK TRUSTEE 1.00 0.00 X 0 0 0 KATHY YEU TRUSTEE 1.00 0.00 X 0 0 0 KANWAL SINGH PROVOST & DEAN OF FACULTY 40.00 0.00 X 0 0 0 THOMAS BLUM AVP INST RESEARCH & GOV REL/SEC. 40.00 0.00 X 0 0 0 ROBERT KENNY INTERIM VP OF FINANCE & OPERATIONS 40.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 462194 906546 1368740 AUXILIARY ENTERPRISES 611710 7584 7584 OTHER EDUCATION PROG. 611600 3875 3875 11459 523073 523073 29298 0 29298 29298 29298 7032 0 7032 7032 7032 1939602 11459 0 559403 168381 168381 168106 51973 80919 35214 2112424 1591599 340650 180175 9043 7342 1077 624 333317 251136 53751 28430 182064 137176 29359 15529 62875 62875 31839 31839 87373 14801 70967 1605 25055 3744 18793 2518 168427 150073 18354 29035 16958 12077 410336 406799 3537 156842 56742 100100 6846 6846 344712 342593 2119 375120 372813 2307 HOUSEKEEPING & MAINT. 335999 335999 BUILDING REPAIR & REN. 98698 98210 488 FOREIGN PROGRAM COSTS 63975 63975 CONTRACTED FOOD SERVICE 47933 47933 412299 395649 16650 5630699 4520742 690230 419727 3705455 3780368 15358434 15386780 427376 418202 170017 188263 2623142 2643590 189789055 81053547 109248054 108735508 6608601 4913249 153227286 160516828 3121750 3196669 294490115 299779457 6624734 5560519 2348990 6852227 40629726 40632634 46103521 46382736 7220012 6667823 102926983 106095939 X 39983282 43475911 151579850 150207607 191563132 193683518 294490115 299779457 X -3691097 5629792 181691 X 0 1 X 1 0 X 11949502 12140078 9995180 29929533 9829562 73843855 11949502 12140078 9995180 29929533 9829562 73843855 7687926 66155929 1561683 637099 657608 1327736 1675294 5859420 79703275 520816969 0.83000 0.85510 X SCHEDULE A, PART II, COLUMN E THE 2022 COLUMN INCLUDES THE AMOUNTS REPORTED ON THE CURRENT YEAR FORM 990 PLUS THE 12 MONTH PERIOD FROM THE COLLEGE'S 5/31/2023 FORM 990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 135325360 -304491 4271948 591534 0 31839 138669444 140514472 3586176 -1294161 7098408 0 382719 135325360 140223345 1714697 4710084 5830700 0 302954 140514472 109342197 1229112 38251132 5500000 2900200 198896 140223345 112749765 2112580 1800118 5300000 1869926 150340 109342197 0.13600 0.61430 0.24970 0 0 8317896 8317896 162917328 67264229 95653099 17745464 13789318 3956146 808367 808367 108735508 GLOBAL EQUITY FUNDS 68889599 F PRIVATE EQUITY & VENTURE FUNDS 49498522 F FIXED INCOME FUNDS 14757142 F MARKETABLE ALTERNATIVE FUNDS 14372826 F US GOVERNMENT SECURITIES 10107944 F LT SPLIT-INTEREST INVESTMENTS 1542788 F REAL ASSETS FUNDS 783395 F CASH IN SPLIT-INTEREST AGREEMENT 564612 F 160516828 POSTRETIREMENT HEALTH BENEFIT OBLIGATION 3742312 ANNUITIES PAYABLE 1515511 CONDITIONAL ASSET RETIREMENT OBLIGATION 996491 US GOVERNMENT GRANTS REFUNDABLE 413509 6667823 X 7550865 5629792 181691 5811483 1739382 31839 168381 200220 1939602 5430479 0 5430479 31839 168381 200220 5630699 PART V, LINE 4: ENDOWMENT FUNDS THE COLLEGE'S USE OF THE ENDOWMENT FUNDS IS FOR ACADEMIC PROGRAMS, LIBRARY ACQUISITIONS, SCHOLARSHIPS AND FELLOWSHIPS, FACULTY SALARIES AND OTHER DESIGNATED PURPOSES. PART X, LINE 2: FIN 48 THE COLLEGE FOLLOWS THE FASB'S ACCOUNTING GUIDANCE TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH 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 SECTION PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. TO THE BEST OF OUR KNOWLEDGE, THE COLLEGE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE COLLEGE IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE ("CODE") SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSES, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. RECONCILIATION SARAH LAWRENCE COLELGE CHANGED ITS FISCAL YEAR END FROM MAY 31, 2023 TO JUNE 30, 2023 AND ISSUED AN AUDITED FINANCIAL STATEMENT FOR THE THIRTEEN-MONTH PERIOD OF JUNE 1, 2022 THROUGH JUNE 30, 2023. THE SCHEDULE D RECONCILIATION REFLECTS THE ONE-MONTH DATA INCLUDED WITHIN THE THIRTEEN-MONTH AUDIT REPORT. FOR TAX PURPOSES, SARAH LAWRENCE COLLEGE IS REQUIRED TO COMPLETE A FULL YEAR TWELVE MONTH FORM 990 FOR THE YEAR ENDING MAY 31, 2023 AND A SHORT PERIOD FORM 990 (THIS FORM 990) FOR THE PERIOD COVERING JUNE 1, 2023 THROUGH JUNE 30, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 171,458. POSTRETIREMENT BENEFITS EXPENSE OTHER THAN NET PERIODIC BENEFIT COST 10,233. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 168,381. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 168,381. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE PART II NONDISCRIMINATION POLICY SCHEDULE E, PART I, LINE 3 NON-DISCRIMINATORY POLICY REGARDING STUDENT ADMISSIONS AND EMPLOYMENT POLICIES IS ON THE COLLEGE'S WEBSITE AT WWW.SARAHLAWRENCE.EDU. NON-DISCRIMINATORY POLICY IS ALSO PRINTED IN STUDENTS' ADMISSIONS APPLICATION, STUDENTS' HANDBOOK, AND COLLEGE CATALOGUE. FINANCIAL AID OR ASSISTANCE FROM GOVERNMENT AGENCY SCHEDULE E, PART I, LINE 6A FEDERAL CAMPUS-BASED STUDENT AID FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION. THE COLLEGE ALSO RECEIVES FUNDS FROM VARIOUS AGENCIES AS RESEARCH AND TRAINING GRANTS. EUROPE (INCLUDING ICELAND & GREENLAND) 2 4 PROGRAM SERVICES UNDERGRAD EDUCATION 63795 2 4 0 0 2 4 63795 0 63795 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3, COLUMN F THE PROGRAMMATIC EXPENDITURES REPORTED IN PART 1 REPRESENT DIRECT EXPENDITURES INCURRED ON THE ACCRUAL BASIS ASSOCIATED WITH THE COLLEGE'S STUDY ABROAD PROGRAMS IN ENGLAND AND FRANCE. THE AMOUNTS REPORTED ON PART I ARE IDENTIFIED ON A REASONABLE EFFORTS BASIS WHERE SUCH ACTIVITIES WERE NOT TRACKED SEPARATELY UNDER THE COLLEGE'S ACCOUNTING PROCEDURES. SCHEDULE F, PART IV SARAH LAWRENCE COLLEGE INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, THE COLLEGE'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621 OR 8865. TO THE EXTENT SUCH A FORM WAS COMPLETED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. 1 SCHOLARSHIPS & FELLOWSHIPS TO ELIGIBLE STUDENTS 56 168381 0 SCHEDULE I, PART III A LIST OF RECIPIENTS OF SCHOLARSHIPS IS ON FILE AT THE COLLEGE. THE RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS ESTABLISHED BY THE COLLEGE COMMITTEES THAT JUDGE THE APPLICANTS. THE COLLEGE HAS PROCEDURES THAT ARE DESIGNED TO ENSURE THAT INDIVIDUALS FROM THE COLLEGE QUALIFY TO RECEIVE PAYMENTS. THE COLLEGE'S FINANCIAL AID OFFICE ENSURES THAT GRANTS AND AWARDS ARE IN COMPLIANCE WITH PROCEDURES ESTABLISHED BY THE COLLEGE. A WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION 455135576 95737TCT1 2016-09-28 44342586 REFUND $42,095,000 YONKERS IDA 0 0 0 A 44342586 684950 43657636 2016 0 1 1 1 A 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 FORM 990, SCHEDULE K, PART IV, LINE 2C THE FIRST REBATE WAS PERFORMED 9/21/2021. FOR CUSIP 95737TCT1, THE NEXT REBATE COMPUTATION IS DUE 9/28/2026. FORM 990, PART III, LINE 1 WITHIN A FRAMEWORK OF HUMANISTIC VALUES AND CONCERN FOR COMMUNITY. OUR UNIQUE EDUCATIONAL PRACTICES, INCLUDING UNPARALLELED TIME WITH FACULTY, AIM AT PREPARING THE WHOLE STUDENT TO SOLVE PROBLEMS IN NEW WAYS, TO CROSS DISCIPLINARY BOUNDARIES, AND TO THINK AND ACT INDEPENDENTLY AS THEY BECOME PROTAGONISTS ON THE WORLD STAGE. FORM 990, PART VI, SECTION B, LINE 11B 990 REVIEW PROCESS A FULL DRAFT OF FORM 990, WITH THE EXCEPTION OF A REDACTED SCHEDULE B TO PROTECT THE CONFIDENTIALITY OF DONORS, WAS SENT TO EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD TO REVIEW. A REDACTED COPY OF THE 990 WAS PLACED ON THE COLLEGE'S PASSWORD-PROTECTED TRUSTEE PAGE FOR REVIEW BY EACH BOARD MEMBER PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE SECRETARY OF THE BOARD REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY. ANNUALLY, THE TRUSTEES ARE SENT THE COLLEGE'S CONFLICT OF INTEREST POLICY BY THE SECRETARY OF THE BOARD. COMPLIANCE IS ACKNOWLEDGED BY SIGNATURE AND RETURN OF THE SIGNED STATEMENT. AT THE SAME TIME, A DISCLOSURE STATEMENT IS COMPLETED IN ORDER TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST WITH THE COLLEGE. THE POLICY REQUIRES DISCLOSURE OF ALL POTENTIAL CONFLICTS OF INTEREST TO THE SECRETARY, OR CHAIR OF THE BOARD, AS SOON AS POSSIBLE AFTER THE TRUSTEE LEARNS OF THE CONFLICT. ALL DISCLOSED POTENTIAL CONFLICTS OF INTEREST ARE PRESENTED TO THE BOARD WITH THE MATERIAL FACTS FOR DISCUSSION AND DECISION FOR APPROVAL. THE BOARD SETS FORTH ITS BASIS IN THE MINUTES OF THE MEETING IN WHICH THE DECISION WAS MADE. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING COMPENSATION FOR OFFICERS AND KEY EMPLOYEES THE EXECUTIVE COMMITTEE, COMPRISED OF INDEPENDENT TRUSTEES, MEETS ANNUALLY TO REVIEW THE COMPENSATION OF THE PRESIDENT AND OTHER OFFICERS/SENIOR TEAM MEMBERS WHO ARE NOT TRUSTEES. THE FACULTY TRUSTEE'S SALARY IS SET BY THE PROVOST IN ACCORDANCE WITH FACULTY COMPENSATION POLICIES. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES DATA TO THE EXECUTIVE COMMITTEE AT THE END OF EACH ACADEMIC YEAR TO PRESENT OBJECTIVE COMPARATIVE INFORMATION ON ALL OFFICERS OF THE COLLEGE. DATA IS COLLECTED FROM 2 SETS OF OBJECTIVE COMPARATIVE PEER GROUPS. THE PRESIDENT PRESENTS TO THE COMMITTEE THE ANNUAL EVALUATION AND SALARY RECOMMENDATION FOR EACH OFFICER FOR THE FOLLOWING ACADEMIC YEAR. THE COMMITTEE APPROVES THE NEW SALARIES. THE COMMITTEE DETERMINES AND APPROVES THE PRESIDENT'S SALARY. THE DETERMINATION IS DOCUMENTED IN THE CONTEMPORANEOUS MEETING MINUTES. THIS PROCESS WAS LAST UNDERTAKEN ON JUNE 20, 2023. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS, POLICY, AND FINANCIALS THE CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE COLLEGE'S WEBSITE. THE COLLEGE'S FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE BY REQUEST AT MANAGEMENT'S DISCRETION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 171,458. POSTRETIREMENT BENEFITS EXPENSE OTHER THAN NET PERIODIC BENEFIT COST 10,233. SARAH LAWRENCE AT OXFORD WADHAM COLLEGE OXFORD ENGLAND UK OX1 3PN EDUCATION UK SLC 1 SARAH LAWRENCE PARIS 4 RUE DE CHEVREUSE PARIS FR 75006 EDUCATION FR SLC 1 CHARITABLE REMAINDER TRUSTS (11) N/A NY N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 SCHEDULE R, PART II, LINE (1) AND PART V, LINE (2) RELATED ORGANIZATIONS SARAH LAWRENCE COLLEGE OPERATES SEVERAL EDUCATIONAL PROGRAMS OUTSIDE THE UNITED STATES. THE PROGRAM IN OXFORD, ENGLAND REQUIRED THE COLLEGE TO SET UP A SEPARATE LEGAL ENTITY. THE PROGRAM IN PARIS IS ALSO SET UP AS A SEPARATE LEGAL ENTITY. THESE ENTITIES ARE LISTED IN SCHEDULE R OF FORM 990, AS REQUIRED. THE PROGRAMS AND FINANCIAL INFORMATION CONTAINED IN THIS FORM 990 INCLUDE THE ACTIVITY OF THE SARAH LAWRENCE AT OXFORD AND PARIS PROGRAMS SINCE THE OPERATIONS ARE CONDUCTED AS PROGRAMS OF THE COLLEGE, AND ARE NOT EASILY SEPARABLE.