2024-05-14T16:36:42-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET 13TH FLOOR BOSTON MA 02109 990 2022-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 GRAPEVINE ROAD WENHAM MA 01984 JEFF EUBANK INTERIM VP FOR FINANCE & CFO 9788674883 2024-05-14 1 JEFF EUBANK XXX-XX-XXXX 1 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL D HAMMOND 255 GRAPEVINE ROAD WENHAM MA 01984 76551707 0 X WWW.GORDON.EDU X 1889 MA GORDON COLLEGE STRIVES TO GRADUATE MEN & WOMEN DISTINGUISHED BY (CONTINUED ON SCHEDULE O) (CONTINUATION) INTELLECTUAL MATURITY AND CHRISTIAN CHARACTER, COMMITTED TO LIVES OF SERVICE AND PREPARED FOR LEADERSHIP WORLDWIDE. 22 20 1621 20 0 0 10699827 13845083 56350598 55608078 9790328 -6321458 33740 -365030 76874493 62766673 14862167 15874631 0 0 33739068 33056220 0 0 3477319 26940325 25235278 75541560 74166129 1332933 -11399456 191933809 182425243 47479033 31160767 144454776 151264476 X SEE SCHEDULE O 0 0 44961574 15839068 33404536 HIGHER EDUCATION: OUR LARGEST PROGRAM SERVICE IS PROVIDING EDUCATION AND INSTRUCTION TO INDIVIDUALS GIVING THEM AN OPPORTUNITY TO EARN A DEGREE. GORDON COLLEGE IS THE ONLY NONDENOMINATIONAL CHRISTIAN LIBERAL ARTS COLLEGE IN NEW ENGLAND. IT OFFERS 35 MAJORS AND CONFERS 3 SEPARATE UNDERGRADUATE DEGREES; BACHELOR OF ARTS, BACHELOR OF SCIENCE AND BACHELOR OF MUSIC. UNDERGRADUATE ENROLLMENT OF 1441 STUDENTS IS DRAWN FROM 46 STATES AND 41 COUNTRIES. IN 2022-23, GORDON COLLEGE ISSUED 275 UNDERGRADUATE DEGREES (WITH A SIX-YEAR GRADUATION RATE OF 68%). GORDON HAD A FACULTY TO STUDENT RATIO OF 14 TO 1 WITH 63% OF THE STUDENTS FROM OUTSIDE MASSACHUSETTS. OF THE 74 FULL-TIME FACULTY, 85% HAVE EARNED DOCTORATES. (CONTINUED ON SCHEDULE O)GORDON COLLEGE STUDENTS CAN TAKE ADVANTAGE OF A WIDE VARIETY OF OFF-CAMPUS PROGRAMS, BOTH DOMESTIC AND ABROAD. DURING 2022-23, 60 STUDENTS PARTICIPATED IN OFF-CAMPUS PROGRAMS AND SHORT-TERM INTERNATIONAL SEMINARS. PART V, LINE 2A:EMPLOYEE BREAKOUT:STAFF - 767STUDENT - 854TOTAL - 1,621 16780661 0 17078436 AUXILIARY PROGRAMS RELATED TO THE EDUCATIONAL PROCESS FOR DORMITORY HOUSING, FOOD SERVICE, BOOKSTORE, LAVIDA OUTDOOR EXPERIENCE, BALANCE AND MOBILITY CENTER, SUMMER ATHLETIC CAMPS AND OTHER SUMMER PROGRAMS. THERE WERE 1118 RESIDENT STUDENTS IN THE FALL SEMESTER 2022 AND 1060 IN THE SPRING SEMESTER 2023. 1760216 35563 2600129 HIGHER EDUCATION: GORDON COLLEGE HAS GRADUATE PROGRAMS IN EDUCATION, MUSIC EDUCATION, LEADERSHIP, AND FINANCIAL ANALYSIS CONFERRING DEGREES IN MASTERS OF EDUCATION, MASTERS OF MUSIC EDUCATION, MASTER OF ARTS IN LEADERSHIP, AND MASTER OF SCIENCE IN FINANCIAL ANALYSIS. IN 2022-23, THE TOTAL OF UNDUPLICATED GRADUATE STUDENTS WAS 334 DRAWN FROM 28 STATES AND 28 COUNTRIES. GORDON COLLEGE CONFERRED 142 MASTERS' DEGREES IN 2022-23. 0 0 2524977 2524977 63502451 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 1 1 0 0 0 1 X 292 0 1 1621 1 0 1 IT 0 0 0 0 0 0 0 0 0 0 X 22 20 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X JEFF EUBANK 9788674883 255 GRAPEVINE WENHAM MA 01984 HERMAN SMITH JR CHAIRMAN OF THE BOARD (THRU 05/2023) 5.00 0.50 X X 0 0 0 GORDON HALL TREASURER 5.00 0.50 X X 0 0 0 SAMUEL ACEVEDO TRUSTEE (AS OF 05/2023) 1.00 0.00 X 0 0 0 TIMOTHY BREENE TRUSTEE (THRU 2/23)/EVP (AS OF 4/23) 1.00 0.00 X X 0 0 0 DR WILLIAM BROWN TRUSTEE 1.00 0.50 X 5000 0 0 FRANCIS BROWN III TRUSTEE (AS OF 05/2023) 1.00 0.00 X 0 0 0 DR DOROTHY CHAPPELL TRUSTEE 1.00 0.00 X 0 0 0 FOSTER CHASE TRUSTEE 1.00 0.00 X 0 0 0 LISA FORKNER TRUSTEE 1.00 0.50 X 0 0 0 CHARLEY GEORGE TRUSTEE 1.00 0.00 X 0 0 0 PETER HERSCHEND TRUSTEE 1.00 0.50 X 0 0 0 DOUGLAS MACGRAY TRUSTEE (AS OF 05/2023) 1.00 0.00 X 0 0 0 REID MACLELLAN TRUSTEE 1.00 0.00 X 0 0 0 ALEXIS RAPO TRUSTEE (AS OF 02/2023) 1.00 0.00 X 0 0 0 RAVI RAVICHANDRAN TRUSTEE (AS OF 02/2023) 1.00 0.00 X 0 0 0 BARRY ROWAN TRUSTEE (THRU 05/2023) 1.00 0.00 X 0 0 0 DANTE RUTSTROM TRUSTEE 1.00 0.00 X 0 0 0 JESSIE SAINTCYR ESQ TRUSTEE (THRU 02/2023) 1.00 0.00 X 0 0 0 JOHN SARGENT TRUSTEE 1.00 0.00 X 0 0 0 SAMUEL SCHREINER III TRUSTEE 1.00 0.50 X 0 0 0 SANTIAGO SEDACA TRUSTEE 1.00 0.00 X 0 0 0 MARY SHAHIAN TRUSTEE 1.00 0.00 X 0 0 0 MADELYN SHIELDS TRUSTEE 1.00 0.00 X 0 0 0 LORI SMITH TRUSTEE (AS OF 05/2023) 1.00 0.00 X 0 0 0 DR CARRIE TIBBLES TRUSTEE/CHAIR (AS OF 05/2023) 1.00 0.50 X X 0 0 0 KARON WILLIAMSON TRUSTEE 1.00 0.00 X 0 0 0 SUANNAH YOUNG TRUSTEE (THRU 05/2023) 1.00 0.00 X 0 0 0 MICHAEL D HAMMOND PRESIDENT 60.00 1.00 X 414184 0 131756 DANIEL TYMANN EVP AND CHIEF OF STAFF 60.00 0.00 X 195605 0 21059 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 60.00 0.00 X 181576 0 22359 STEPHEN D LACORAZZA VP FOR FINANCE & CFO 60.00 0.00 X 169165 0 31561 RICHARD SWEENEY VICE PRESIDENT FOR MARKETING & EXT. 60.00 0.00 X 157054 0 28484 BRITT CARLSON EATON VP FOR ADVANCEMENT 60.00 0.00 X 141030 0 22708 SALOME BROOKS PROFESSOR (THRU 06/2022) 60.00 0.00 X 354610 0 5310 JENNIFER SKAGGS VP FOR STUDENT LIFE 60.00 0.00 X 145659 0 24225 JEFFERY STEVENSON PROFESSOR 60.00 0.00 X 114267 0 25634 1878150 0 313096 17 0 1 0 BON APPETIT MANAGEMENT COMPANY PO BOX 417632 BOSTON MA 022414632 DINING SERVICE MANAGEMENT 3392336 ENOCH C SHAW CO INC 356 MAIN STREET WATERTOWN MA 02472 CONSTRUCTION 363173 EAB PO BOX 603519 CHARLOTTE NC 282603519 ADVERTISING 341772 RICHARDSON MEDIA GROUP INC 75 CONGRESS STREET STE 214 PORTSMOUTH NH 03801 ADVERTISING 326344 STROZ FRIEDBERG LLC PO BOX 975348 DALLAS TX 753975348 CYBER SECURITY CONSULTANTS 298266 8 988381 12856702 619912 13845083 TUITION FEES 611310 38011842 38011842 RESIDENCE HALL REVENUE 611310 9696639 9696639 BOARD PLAN 611310 4040138 4040138 BALANCE AND MOBILITY CENTER 611310 970122 970122 SUMMER PROGRAMS 611310 364360 364360 2524977 2524977 55608078 2381654 2381654 5 5 13740 0 13740 13740 13740 5062723 19199 13785034 0 -8722311 19199 -8703112 -8703112 LOSS ON DISPOSAL OF ASSET 900099 -378775 -378775 -378775 62766673 55608078 0 -6686488 13468815 13468815 2405816 2405816 1172123 403217 722569 46337 220748 131125 52238 37385 25224630 19072376 4651843 1500411 23362 17057 4788 1517 4675049 3435518 932401 307130 1740308 1270634 356692 112982 397722 397722 183266 183266 292984 292984 6933935 5874573 839255 220107 746417 146356 1423 598638 2306522 1720995 406913 178614 1225664 452880 660082 112702 4206633 4065410 118635 22588 2295798 2089408 123466 82924 15612 13696 1916 4620024 4299395 269045 51584 384898 109843 274130 925 SPECIAL EVENTS 845928 557232 110059 178637 BOND EXPENSES 511502 511502 ALLOCATION OF OPERATION 0 3833900 -3843461 9561 268373 134205 118891 15277 74166129 63502451 7186359 3477319 9467549 3368221 2922688 9064781 39793568 14896839 2705569 1682104 15803 14891 1255447 1396523 184338556 140082384 46205132 44256172 87743198 106622783 22999 1154592 809033 647264 313896 191933809 182425243 1794780 1810743 2132560 1699969 30074441 14737029 128733 106005 1856250 3372600 11492269 9434421 47479033 31160767 X 39659421 69717043 104795355 81547433 144454776 151264476 191933809 182425243 X -11399456 16944519 1264637 X 0 1 X 1 1 1 X 59085163 12719686 9241739 10699827 13845084 105591499 59085163 12719686 9241739 10699827 13845084 105591499 47103176 58488323 1497716 1671853 1331357 1765725 2395399 8662050 114253549 341982251 0.51190 0.54910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 87072779 15093291 7622139 1587458 2612772 105587979 98936710 6431285 -13893319 2323844 2078053 87072779 78099186 5208842 19472316 2105789 1737845 98936710 73914132 5031687 2623669 1820618 1649684 78099186 56810323 15555686 4672531 1804225 1320183 73914132 0.43000 0.49000 0.08000 0 0 1799226 1799226 132600062 94482404 38117658 36685649 34324582 2361067 13253619 11275398 1978221 44256172 CARES ACT PPP LOAN 7046037 ADVANCES FROM US DOE 994332 ANNUITY PAYMENT OBLIGATIONS 885208 CONDITIONAL ASSET RETIREMENT OBLIGATION 508844 9434421 X PART III, LINE 1A: THE COLLEGE HOLDS CERTAIN COLLECTIONS OF WORKS OF ART AND FURNISHINGS. THESE COLLECTIONS ARE HOUSED IN A PROTECTED ENVIRONMENT AND ARE USED FOR EXHIBITION PURPOSES FOR THE PUBLIC, FOR EDUCATION AND RESEARCH, AS WELL AS FOR THE FURTHERANCE OF SERVICE TO THE PUBLIC. THESE COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAINS NOR ARE THEY ENCUMBERED IN ANY MANNER. ACCORDINGLY, THESE COLLECTIONS ARE NOT CAPITALIZED OR RECORDED FOR PURPOSES OF PREPARING THE ACCOMPANYING FINANCIAL STATEMENTS. PART III, LINE 4: OCCASIONALLY THE COLLEGE RECEIVES GIFTS OF ART OR COLLECTIBLES WHICH ARE PUT ON DISPLAY IN VARIOUS BUILDINGS THROUGHOUT THE CAMPUS. WE ALSO MAINTAIN LIBRARY ARCHIVES OF COLLEGE HISTORICAL DOCUMENTS AND BOOK COLLECTIONS KEPT FOR POSTERITY. PART IV, LINE 2B: THE COLLEGE MAINTAINS CUSTODIAL OR "PASS THROUGH" ACCOUNTS FOR FEDERAL STUDENT LOANS, PELL GRANT AND STATE GRANTS. FUNDS ARE HELD IN THESE ACCOUNTS UNTIL DISTRIBUTED TO INDIVIDUAL STUDENTS. THE COLLEGE ALSO MAINTAINS CUSTODIAL ACCOUNTS FOR STUDENT GOVERNMENT AND STUDENT MINISTRY GROUPS AND ACTIVITIES. PART V, LINE 4: THE INTENDED USE OF ENDOWMENT FUNDS IS DRIVEN BY DONOR RESTRICTIONS ON OUR ENDOWMENTS. APPROXIMATELY 38% OF APPROPRIATED REVENUES THIS YEAR WERE IN SCHOLARSHIP AWARDS. 48% OF REVENUES SUPPORTED GENERAL ACTIVITIES AND PHYSICAL PLANT. THE REMAINING 14% WAS ALLOCATED TO INSTRUCTIONAL ACTIVITIES AND ACADEMIC SUPPORT PROGRAMS. DISTRIBUTIONS OF INCOME ARE MADE USING A TOTAL RETURN METHOD. WE USED A SPENDING RATE OF 6% OF THE 3 YEAR ROLLING AVERAGE OF THE FAIR MARKET VALUE OF THE INVESTMENTS. PART X, LINE 2: FIN 48 FOOTNOTE: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GIVEN THE TECHNOLOGY AVAILABLE TODAY, WE HAVE INVESTED IN OUR WEB SITE AS THE WAY TO REACH THE MOST STUDENTS. OUR RACIALLY NONDISCRIMINATORY POLICY IS POSTED ON OUR WEB SITE. OUR PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS IN EACH GEOGRAPHIC AREA ARE DESIGNED TO INFORM STUDENTS OF ALL RACIAL SEGMENTS INTERESTED IN A CHRISTIAN COLLEGE OF THE AVAILABILITY OF GORDON COLLEGE. SCHEDULE E, PART I, LINE 6 GORDON COLLEGE RECEIVES TITLE IV FUNDS FOR AID TO STUDENTS FROM THE DEPARTMENT OF EDUCATION FOR FEDERAL WORK STUDY, FSEOG, FEDERAL PELL GRANT AND OTHER FEDERAL STUDENT AID GRANT PROGRAMS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 1 13 GRANTMAKING 242625 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 66677 SOUTH ASIA 0 0 GRANTMAKING 94997 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 9000 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 373264 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 1268355 NORTH AMERICA 0 0 GRANTMAKING 76704 SOUTH AMERICA 0 0 GRANTMAKING 194647 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 79547 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 7268 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 1305 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 4684 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 2295 SOUTH AMERICA 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 6151 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 1138961 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 35755 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 34585 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 64317 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 87039 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 22056 1 13 0 0 1 13 2326269 1483963 3810232 SCHOLARSHIPS AND GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) 32 242625 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS CENTRAL AMERICA AND THE CARIBBEAN 6 66677 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SOUTH ASIA 7 94997 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SUB-SAHARAN AFRICA 21 373264 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS EAST ASIA AND THE PACIFIC 85 1268355 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS NORTH AMERICA 5 76704 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SOUTH AMERICA 16 194647 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS RUSSIA AND NEIGHBORING STATES 5 79547 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS MIDDLE EAST AND NORTH AFRICA 2 9000 ACCOUNT CREDIT 0 0 0 0 0 0 0 PART I, LINE 2: GRANTS AND SCHOLARSHIPS TO INTERNATIONAL STUDENTS ARE TREATED AS TUITION DISCOUNTS AND ARE APPLIED AS ACCOUNTING CREDITS ON EACH STUDENT'S BILL. THEY ARE NOT PAID DIRECTLY TO THE STUDENT. MERIT SCHOLARSHIPS ARE AWARDED BASED ON ACADEMIC CRITERIA AND ARE RENEWED ANNUALLY BASED ON SATISFACTORY GPA REQUIREMENTS THAT ARE VERIFIED BY THE REGISTRAR'S OFFICE. DONATED SCHOLARSHIP FUNDS ARE AWARDED BASED ON CRITERIA PROVIDED BY DONORS. SPECIFIC ELIGIBILITY IS VERIFIED ANNUALLY BY THE REGISTRAR'S OFFICE, ADMISSIONS AND THE FINANCIAL AID OFFICE. NEED BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. THE COLLEGE USES INFORMATION PROVIDED BY THE CSS PROFILE OF THE COLLEGE BOARD. THE GRANT AMOUNT IS CARRIED FORWARD FROM YEAR TO YEAR UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. PART I, LINE 3: EUROPE ONLY: WE OFFER A SEMESTER BASED PROGRAM IN ITALY. EXPENDITURES ARE REPORTED USING ACCRUAL BASED ACCOUNTING. EMPLOYEE COMPENSATION IS PROCESSED THROUGH OUR CAMPUS PAYROLL SYSTEM. OTHER PROGRAM COSTS ARE MANAGED BY THE PROGRAM DIRECTORS. FUNDS ARE WIRED PERIODICALLY AT THE REQUEST OF THE PROGRAM LEADERS AND APPROVED BY THE GLOBAL EDUCATION ADMINISTRATOR. THE PROGRAM LEADERS PAY LOCAL EXPENSES. EXPENSE DOCUMENTATION IS SUBMITTED TO THE CONTROLLER'S OFFICE FOR REVIEW. COSTS RECORDED AT THE TIME OF THE WIRES ARE FOR TUITION, ROOM, BOARD AND INCIDENTALS OF THE STUDENTS. WE ALSO OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 2-4 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. OTHER REGIONS: WE OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 2-4 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. THE GLOBAL EDUCATION OFFICE APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. MISSIONS AND SERVICE LEARNING TRIPS: GOAL OF TRIPS IS TO HELP STUDENTS SERVE OVERSEAS FOR A PERIOD OF TIME RANGING FROM 3-10 WEEKS OVER SEMESTER OR SUMMER BREAKS. THEY ARE STUDENT LED/STAFF ADVISED. IN COUNTRY COSTS ARE FOR FOOD, HOUSING, TRANSPORTATION AND SERVICE PROJECT EXPENSES. WHERE POSSIBLE, FUNDS ARE WIRED FOR THESE COSTS BASED ON APPROVALS FROM THE DEAN OF CHAPEL. PER DIEM ADVANCES BASED ON STATE DEPARTMENT RATES ARE ISSUED TO TRIP LEADERS TO PAY IN COUNTRY COSTS. TRIP LEADERS MUST DOCUMENT THE EXPENSES WITH DETAILED ITINERARIES AND HAVE APPROVAL FROM THE DEAN OF CHAPEL. GLOBAL INTERNSHIPS: WE STRONGLY BELIEVE GLOBAL INTERNSHIPS PROVIDE OUR STUDENTS WITH RICH CROSS-CULTURAL EXPERIENCES, HELP THEM BUILD NETWORKS WITH GLOBAL ORGANIZATIONS IN DIVERSE AREAS OF WORK AND MINISTRY, AND POSITION THEM WELL TO MEET THE CHALLENGES IN AN INCREASINGLY COMPETITIVE WORLD. STUDENTS CAN APPLY FOR ASSISTANCE WITH TRAVEL COSTS TO INTERNATIONAL LOCATIONS THROUGH OUR AVA MEMMEN GLOBAL INTERNSHIP PROGRAM. THE PROGRAM IS ADMINISTERED BY THE EXECUTIVE VICE PRESIDENT AND THE CAREER SERVICES OFFICE. GLOBAL HONORS: THE COLLEGE HAS DEVELOPED AN HONORS PROGRAM FROM WHICH 12 TO 15 STUDENTS ARE SELECTED EACH YEAR. IN ADDITION TO SCHOLARSHIP, IT INVOLVES TRAVEL TO AN ECONOMICALLY DEPRESSED COUNTRY DURING THE FRESHMAN AND SOPHOMORE YEARS FOR LEARNING AND SERVICE OPPORTUNITIES. THE PRESIDENT AND ADMISSIONS COUNSELORS TRAVELED ON BEHALF OF THE COLLEGE FOR STUDENT RECRUITMENT AND PROGRAM DEVELOPMENT. THE PRESIDENT TRAVELED ON BEHALF OF THE COLLEGE FOR STUDENT RECRUITMENT AND PROGRAM DEVELOPMENT. THE PRESIDENT LED A TRIP FOR FRIENDS AND DONORS OF THE COLLEGE FOR DONOR RELATIONSHIP BUILDING AND CULTIVATION. GEO: GLOBAL EDUCATION STAFF TRAVELED TO VERIFY QUALITY OF VARIOUS OFF-CAMPUS PROGRAMS. PART I, LINE 3: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. PART III ACCOUNTING METHOD: PART III: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT SCHOLARSHIPS AND GRANTS FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. 1 SCHOLARSHIPS AND GRANTS TO STUDENTS 1038 13024777 0 FSEOG GRANTS TO STUDENTS 186 162460 0 FWS GRANTS TO STUDENTS 234 206033 0 FEDERAL TEACH GRANT 5 15088 0 BAY AREA PROJECT AWARD 16 40457 0 WRIGHT ANNUAL AWARD 2 20000 0 PART I, LINE 2: GORDON COLLEGE AWARDS THREE TYPES OF GRANTS/SCHOLARSHIPS: MERIT SCHOLARSHIPS, NEED-BASED GRANTS AND ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS. MERIT SCHOLARSHIPS ARE AWARDED BASED ON THE INCOMING STUDENT'S ACADEMIC CRITERIA DETERMINED BY THE ADMISSIONS OFFICE. THESE SCHOLARSHIPS ARE RENEWED ANNUALLY BY VERIFICATION OF THE REGISTRAR'S OFFICE THAT CUMULATIVE GPA REQUIREMENTS ARE MET. NEED-BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. WE DETERMINE FINANCIAL NEED USING INFORMATION PROVIDED BY THE FAFSA. WE PRACTICE LEVEL-FUNDING OF THE NEED-BASED GRANTS TO FUTURE YEARS UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS ARE AWARDED BASED ON CRITERIA ESTABLISHED BY DONORS. THE CRITERIA INFORMATION ON SPECIFIC ELIGIBLE STUDENTS IS PROVIDED BY THE REGISTRAR, ADMISSIONS AND FINANCIAL AID OFFICES. STUDENTS ARE EVALUATED ANNUALLY TO VERIFY THEY CONTINUE TO MEET THE DONOR CRITERIA FOR AN ENDOWMENT AWARD. X X 1 1 X X X 1 0 0 0 0 0 0 1 0 MICHAEL D HAMMOND PRESIDENT 366417 0 37500 0 10267 0 0 0 131756 0 545940 0 0 0 SALOME BROOKS PROFESSOR (THRU 06/2022) 81783 0 0 0 272827 0 0 0 5310 0 359920 0 0 0 DANIEL TYMANN EVP AND CHIEF OF STAFF 183904 0 9500 0 2201 0 0 0 21059 0 216664 0 0 0 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 170886 0 10000 0 690 0 0 0 22359 0 203935 0 0 0 STEPHEN D LACORAZZA VP FOR FINANCE & CFO 157395 0 11500 0 270 0 0 0 31561 0 200726 0 0 0 RICHARD SWEENEY VICE PRESIDENT FOR MARKETING & EXT. 147441 0 8500 0 1113 0 0 0 28484 0 185538 0 0 0 JENNIFER SKAGGS VP FOR STUDENT LIFE 126035 0 3000 0 16624 0 0 0 24225 0 169884 0 0 0 BRITT CARLSON EATON VP FOR ADVANCEMENT 131781 0 9000 0 249 0 0 0 22708 0 163738 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: OCCASIONALLY SPOUSES OF OFFICERS ACCOMPANY THEM ON BUSINESS TRIPS FOR THE COLLEGE. IN ORDER TO BE TREATED AS A WORKING CONDITION FRINGE BENEFIT, THE COLLEGE REQUIRES SUBSTANTIATION OF THE TRIP AS A BONAFIDE BUSINESS EXPENSE FOR BOTH THE OFFICER AND THE SPOUSE. IF THERE IS NO BUSINESS PURPOSE FOR THE SPOUSE, THE SPOUSAL TRAVEL IS TREATED AS TAXABLE INCOME TO THE OFFICER OR THE OFFICER REIMBURSES THE COLLEGE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE LISTED PERSON RECEIVED THIS BENEFIT. THE PRESIDENT IS REQUIRED TO LIVE IN ON-CAMPUS HOUSING FOR HOSTING PURPOSES AND 24/7 AVAILABILITY TO THE CAMPUS COMMUNITY. BECAUSE OF THIS REQUIREMENT, IT IS EXCLUDED FROM WAGES UNDER SECTION 119 OF THE IRS CODE. THE HOUSING VALUE INCLUDED IN NON-TAXABLE COMPENSATION WAS $102,000. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN D. CERTAIN LISTED INDIVIDUALS RECEIVED HOUSING ASSISTANCE AS A TAXABLE BENEFIT. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 4A ONE LISTED INDIVIDUAL SEPARATED FROM THE COLLEGE IN JUNE OF 2022. PURSUANT TO THIS INDIVIDUAL'S AGREEMENT, THE INDIVIDUAL RECEIVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2022. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 OFFICERS AND OTHER EMPLOYEES WERE GIVEN BONUSES FOR EXCEEDING THE GOALS AND EXPECTATIONS ASSIGNED TO THEM FOR THE YEAR. RECOMMENDATIONS FOR BONUSES ARE MADE BY THE PRESIDENT TO THE EXECUTIVE COMMITTEE OF THE BOARD. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND DETERMINES BONUS PAYMENTS. SUSPENSION OF QUALIFIED RETIREMENT PLAN: THE COLLEGE SUSPENDED CONTRIBUTIONS AS OF JULY 2020 TO THE DEFINED CONTRIBUTION PLAN. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2023-06-29 15000000 REFUND ISSUED FOR SERIES 2020 0 0 0 A 15000000 225971 14774029 2023 1 0 1 1 A 0 0 1 1 0 0.00760 0.00760 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 NA NOT REQUIRED N/A NOT REQUIRED 134605 SCHOLARSHIP ACADEMIC MERIT SCHOLARSHIPS BASED ON STANDARD FOR 13 INTERESTED PERSONS JONATHAN TYMANN BROTHER OF EVP 100841 EMPLOYMENT COMPENSATION 0 JENNIFER HAMMOND SPOUSE OF PRESIDENT 37385 EMPLOYMENT COMPENSATION 0 BENNETT FORKNER SON OF TRUSTEE 51772 EMPLOYMENT COMPENSATION 0 JORDAN TYMANN NEPHEW OF EVP 50034 EMPLOYMENT COMPENSATION 0 X 2 X 15 619912 FMV ON DATE RECEIVED 0 0 1 0 PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). PART I, LINE 33: INSTITUTIONAL POLICY FOR WORKS OF ART IS TO NOT RECORD A GIFT VALUE. GORDON COLLEGE DOES NOT CAPITALIZE THEIR COLLECTIONS AS ALLOWED UNDER SFAS 116 (ASC 958-360-25). FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: GORDON COLLEGE'S PRIMARY RESPONSIBILITY IS TO PREPARE STUDENTS FOR THE LONG HAUL, TO MAKE THEM SPIRITUALLY, INTELLECTUALLY, RELATIONALLY AND PROFESSIONALLY READY FOR A LIFETIME OF GROWTH - FROM THE FIRST JOB OUT OF COLLEGE AND BEYOND INTO FIELDS NOT YET EXISTING. OUR MISSION IS TO THE FOUNDATION OF ALL WE DO AS WE INSPIRE THE NEXT GENERATION TOWARD FAITHFUL LEADERSHIP FOR THE COMMON GOOD. FORM 990, PART VI, SECTION B, LINE 11B GRANT THORNTON PREPARES THE 990 AND SUBMITS IT FOR REVIEW TO THE VICE PRESIDENT FOR FINANCE, THE PRESIDENT AND DIRECTOR OF ACCOUNTING. THE FORM 990 IS ALSO REVIEWED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM. ONCE THE FORM 990 IS APPROVED BY THE PRESIDENT AND VICE PRESIDENT, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 WITHOUT SCHEDULE B IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL DISCLOSURE FORM DELINEATING CONFLICTS IS DISTRIBUTED TO ALL TRUSTEES AT THE ANNUAL BOARD MEETING AND MUST BE SIGNED BY EACH TRUSTEE. A COPY IS MAILED TO ANY TRUSTEE WHO IS ABSENT AND MUST BE SIGNED AND RETURNED. TRUSTEES MUST RECUSE THEMSELVES FROM ANY DISCUSSION OF OR VOTE ON ANY ISSUE INVOLVING CONFLICTS OF INTEREST. KEY EMPLOYEES AND OFFICERS MUST ALSO SIGN AN ANNUAL CONFLICT OF INTEREST FORM WHICH CLEARLY DELINEATES CONFLICTS OF INTEREST. THE VICE PRESIDENT FOR FINANCE MONITORS AND REVIEWS THE CONFLICT OF INTEREST STATEMENTS. THE PRESIDENT'S OFFICE COLLECTS AND MAINTAINS THEM. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD SERVES AS THE COMPENSATION COMMITTEE FOR THE PRESIDENT'S POSITION. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT BOARD MEMBERS. CCC, CCCU AND OTHER PEER INSTITUTIONS COMPENSATION STUDIES OF COLLEGE PRESIDENTS ARE REVIEWED BY THE COMMITTEE AND THE SALARY IS SET BY COMMITTEE VOTE. THE PRESIDENT HAS AN ANNUAL REVIEW BY THE COMMITTEE AND IS JUDGED BASED ON ATTAINMENT OF GOALS FOR THE YEAR. THE PRESIDENT SUBMITS COMPENSATION COMPARABILITY DATA TO THE COMMITTEE FOR THE PROVOST, VICE PRESIDENT FOR FINANCE AND EXECUTIVE VICE PRESIDENT POSITIONS. COMPENSATION INCREASES AND BONUSES, IF ANY, ARE BASED UPON JOB PERFORMANCE AND THE INDEPENDENT STUDIES. MINUTES ARE KEPT OF THE PROCESS AND THE COMMITTEE VOTE. THE LAST REVIEW PROCESS TOOK PLACE IN 2023. FORM 990, PART VI, SECTION C, LINE 19 OUR GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AND ON OUR PUBLIC WEB SITE. OUR CONFLICT OF INTEREST POLICY IS AVAILABLE ON OUR PUBLIC WEB SITE. OUR FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND COPIES ARE MAINTAINED IN THE COLLEGE LIBRARY. FORM 990, PART XI, LINE 9: INTEREST RATE SWAP FAIR VALUE ADJUSTMENT 1,291,651. CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS -27,014. GORDON COLLEGE FOUNDATION 255 GRAPEVINE ROAD WENHAM MA 01984 222610484 LAND USE MA 501(C)(3) LINE 12A, I GORDON COLLEGE 0 CHARITABLE REMAINDER TRUSTS(4) 255 GRAPEVINE ROAD WENHAM MA 01984 CHARITABLE GIFT MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0