2024-05-14T13:09:59-05:00 2023-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2022-07-01 010215213 BOWDOIN COLLEGE BOWD 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 REBECCA COREY CONTROLLER 2077215078 2024-05-10 1 REBECCA COREY XXX-XX-XXXX 1 KAVITA GADA P01245482 6179881000 2024-04-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SAFA ZAKI 5400 COLLEGE STATION BRUNSWICK ME 040118445 620496000 0 X WWW.BOWDOIN.EDU X 1794 ME FOUR-YEAR PRIVATE UNDERGRADUATE LIBERAL ARTS COLLEGE. SEE SCHEDULE O 43 42 3012 1740 -974000 0 49006000 59085000 142176000 149509000 219551000 145388000 1045000 1266000 411778000 355248000 55513000 57711000 0 0 123872000 131370000 2000 0 8572000 76200000 86294000 255587000 275375000 156191000 79873000 3102956000 3048898000 436812000 429804000 2666144000 2619094000 X *SEE SCHEDULE O* 0 0 233800000 57711000 150775000 DURING FISCAL YEAR 2023, BOWDOIN ENROLLED 1,852 FULL-TIME EQUIVALENT (FTE) STUDENTS, NOT INCLUDING 125 FTE STUDENTS WHO STUDIED OFF CAMPUS; 95% COMPLETE THE DEGREE WITHIN FIVE YEARS; THE STUDENT/FACULTY RATIO IS 9:1; 98% OF FACULTY HAS A PH.D. OR EQUIVALENT. AS OF JUNE 2023, 42,950 STUDENTS HAVE MATRICULATED AT BOWDOIN COLLEGE, AND 34,888 DEGREES IN ACADEMIC PROGRAMS HAVE BEEN AWARDED. 233800000 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 1 1 1 0 1 0 0 0 0 1 0 1 0 1 1 0 0 1 1 1 1 0 0 1 564 0 1 3012 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 1 1 X 43 42 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X REBECCA COREY 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 SCOTT B PERPER CHAIR 8.00 X X 0 0 0 SYDNEY ASBURY VICE CHAIR 8.00 X X 0 0 0 CLAYTON ROSE PRESIDENT 40.00 X X 676428 0 104562 JENNIFER GOLDSMITH ADAMS TRUSTEE 4.00 X 0 0 0 JOSEPH ADU TRUSTEE 4.00 X 0 0 0 TEJUS AJMERA TRUSTEE 4.00 X 0 0 0 WILLIAM S ANDERSON TRUSTEE 4.00 X 0 0 0 KAYLA D BAKER TRUSTEE 4.00 X 0 0 0 KATIE R BENNER TRUSTEE 4.00 X 0 0 0 PETER J BERNARD TRUSTEE 4.00 X 0 0 0 ARTHUR E BLACK TRUSTEE 4.00 X 0 0 0 RONALD C BRADY TRUSTEE 4.00 X 0 0 0 DAVID G BROWN TRUSTEE 4.00 X 0 0 0 ELLEN L P CHAN TRUSTEE 4.00 X 0 0 0 RUSSELL C CRANDALL TRUSTEE 4.00 X 0 0 0 MICHELE G CYR TRUSTEE 4.00 X 0 0 0 JULIA L DAVIDSON TRUSTEE 4.00 X 0 0 0 JEFF D EMERSON TRUSTEE 4.00 X 0 0 0 ROBERT T FRIEDMAN TRUSTEE 4.00 X 0 0 0 BERTRAND GARCIA-MORENO TRUSTEE 4.00 X 0 0 0 SHELLEY A HEARNE TRUSTEE 4.00 X 0 0 0 KATHRYN ROCHE HOPE TRUSTEE 4.00 X 0 0 0 TASHA VANDERLINDE IRVING TRUSTEE 4.00 X 0 0 0 TYREE P JONES JR TRUSTEE 4.00 X 0 0 0 ANN HAMBELTON KENYON TRUSTEE 4.00 X 0 0 0 GEORGE A KHALDUN TRUSTEE 4.00 X 0 0 0 HOLLY E MALONEY TRUSTEE 4.00 X 0 0 0 JOSEPH V MCDEVITT JR TRUSTEE 4.00 X 0 0 0 JOHN F MCQUILLAN JR TRUSTEE 4.00 X 0 0 0 JANE L PINCHIN TRUSTEE 4.00 X 0 0 0 MARY HOGAN PREUSSE TRUSTEE 4.00 X 0 0 0 KIMBERLY FOSTER PRICE TRUSTEE 4.00 X 0 0 0 ALISON E RUNDLETT TRUSTEE 4.00 X 0 0 0 JOAN BENOIT SAMUELSON TRUSTEE 4.00 X 0 0 0 PHILIP W SCHILLER TRUSTEE 4.00 X 0 0 0 ANDREW E SERWER TRUSTEE 4.00 X 0 0 0 DIANA L SPAGNUOLO TRUSTEE 4.00 X 0 0 0 R STEWART STRAWBRIDGE TRUSTEE 4.00 X 0 0 0 JOHN K L THORNDIKE TRUSTEE 4.00 X 0 0 0 KAREN N WALKER TRUSTEE 4.00 X 0 0 0 PAULA M WARDYNSKI TRUSTEE 4.00 X 0 0 0 DAVID P WHEELER TRUSTEE 4.00 X 0 0 0 MITCHELL S ZUKLIE TRUSTEE 4.00 X 0 0 0 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 40.00 X 404434 0 98300 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 40.00 X 323144 0 98457 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 40.00 X 170514 0 62605 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 40.00 X 273952 0 76119 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 40.00 X 300555 0 102842 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 40.00 X 250516 0 82253 STEPHANIE FROST SVP FOR DEVELOPMENT & AR 40.00 X 429463 0 49739 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 40.00 X 366215 0 113324 BENJE DOUGLAS SVP FOR INCLUSION & DIVERSITY 40.00 X 196547 0 56957 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 40.00 X 265319 0 67637 K NILES BRYANT SVP/CHIEF INVESTMENTS OFFICER 40.00 X 1804690 0 69494 MICHAEL ARCHIBALD VP FOR DEVELOPMENT & AR 40.00 X 298024 0 70147 BORIS RAYKIN DIRECTOR OF INVESTMENTS 40.00 X 927163 0 41918 ASHLEY LABRECK ENDOWMENT CHIEF OP OFFICER 40.00 X 366848 0 79652 PAGE MACHLIN DIRECTOR OF INVESTMENTS 40.00 X 826139 0 43287 ANN OSTWALD ASSOC DEAN FOR ACAD ADMIN 40.00 X 309797 0 25162 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 40.00 X 263178 0 61963 SCOTT MEIKLEJOHN FRMR SVP FOR DEVELOPMENT & AR 40.00 X 197736 0 36838 MICHAEL REED FRMR SVP INCLUSION & DIVERSITY 40.00 X 208978 0 0 8859640 0 1341256 253 1 1 0 CONSIGLI CONSTRUCTION CO INC 72 SUMNER STREET MILFORD MA 01757 CONST. SERVICES 9385503 INCLINE ALCHEMY INC PO BOX 1058 160 ALAMO PLAZA ALAMO CA 94507 SOFTWARE SERVICES 1303360 HGA SDS 12-1861 PO BOX 86 MINNEAPOLIS MN 55486 ARCHITECT/ENGINEER 1186475 CIGNA PO BOX 644546 PITTSBURGH PA 15264 BENEFITS ADMIN FEES 991827 EBSCO INFORMATION SERVICES PO BOX 830625 BIRMINGHAM AL 35283 LIBRARY SERVICES 856980 66 9900000 49185000 3068000 59085000 TUITION AND FEES 611710 113883000 113883000 ROOM AND BOARD 611710 29551000 29551000 AUXILIARY ENTERPRISES 611710 4542000 4286000 256000 OFF-CAMPUS STUDY 611710 354000 354000 APPLICATION FEES 611710 185000 185000 994000 994000 149509000 11397000 -2217000 13614000 34000 0 34000 34000 34000 399165000 74000 265203000 45000 133962000 29000 133991000 987000 133004000 OTHER REVENUE 611710 934000 934000 REUNION WEEKEND 611710 298000 298000 1232000 355248000 150519000 -974000 146618000 679000 679000 56601000 56601000 431000 431000 6953000 2777000 3530000 646000 182000 182000 93823000 76805000 12175000 4843000 9435000 7760000 1155000 520000 14036000 11808000 1478000 750000 6941000 5609000 938000 394000 1038000 1038000 564000 564000 23900 23900 428000 428000 7576000 5474000 1764000 338000 135000 28000 107000 6425000 4762000 1106000 557000 6621000 4411000 2210000 7437000 5933000 1504000 5500000 4621000 583000 296000 1338000 1039000 119000 180000 13990000 13151000 839000 17660000 16600000 1060000 1103000 949000 154000 PURCHASES FOR RESALE 4861000 4861000 FACILITIES, MAINT, REP 3881000 3687000 194000 LIBRARY MATERIALS 3502000 3502000 EQP RENTAL, MAINT, REP 1492000 1358000 125000 9000 2719100 954000 1726100 39000 275375000 233800000 33003000 8572000 0 0 120445000 115150000 52463000 50116000 2096000 3554000 0 0 0 0 1090000 796000 1639000 1623000 5258000 5494000 602629000 239813000 343741000 362816000 113961000 101913000 2435387000 2379518000 0 0 0 0 26876000 27918000 3102956000 3048898000 25906000 25747000 719000 366000 1202000 1169000 85493000 84597000 26000 25000 0 0 7500000 3000000 0 0 315966000 314900000 436812000 429804000 X 300727000 308145000 2365417000 2310949000 2666144000 2619094000 3102956000 3048898000 X 79873000 -127046000 123000 X 0 1 X 1 1 1 X 46950000 71378000 38857000 49006000 59085000 265276000 46950000 71378000 38857000 49006000 59085000 265276000 8193783 257082217 16670000 15038000 13266000 6721000 13648000 65343000 1082000 6584000 7666000 25000 43000 68000 338353000 661942000 0.75980 0.74390 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING RECEIPTS - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 25,000. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 43,000. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 23900 23900 0 PART II-B, LINE 1: LINE 1I: THE ORGANIZATION PAYS MEMBERSHIP DUES TO ASSOCIATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. X X X X 0 0 1 X 2472818000 39479000 13066000 42432000 50468000 10262000 2422201000 2718438000 33193000 -189622000 37956000 44283000 6952000 2472818000 1780970000 21252000 1004524000 35295000 42401000 10612000 2718438000 1743671000 18977000 99255000 32721000 39635000 8577000 1780970000 1628165000 17810000 173843000 30565000 37087000 8495000 1743671000 0.08307 0.91693 0 0 7515000 7515000 497524000 178967000 318557000 6397000 2962000 3435000 50533000 44492000 6041000 40660000 13392000 27268000 362816000 FIXED INCOME 22298000 F EQUITIES 466680000 F ABSOLUTE RETURN 746900000 F ALTERNATIVE INVESTMENTS 1143640000 F 2379518000 LIABILITY: POST-RETIREMENT BENEFITS 18607000 ASSET RETIREMENT OBLIGATION 1570000 LIABILITY FOR PV OF LIFE INCOME 12566000 FAIR VALUE OF INTEREST RATE SWAP 2768000 DEFERRED TAX LIABILITY 10000000 EXCISE TAX LIABILITY 810000 TAXABLE BOND LIABILITIES 255906000 OPERATING/FINANCING LEASE LIAB 12673000 314900000 X 219993000 -127046000 123000 -126923000 346916000 10262000 -1930000 8332000 355248000 267043000 0 267043000 10262000 -1930000 8332000 275375000 PART III, LINE 1A: ORGANIZATIONS MAINTAINING COLLECTIONS: THE COLLEGE DOES NOT CAPITALIZE COLLECTIONS, PRIMARILY ART OBJECTS, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FINANCIAL GAIN. PROCEEDS FROM THE SALE OF COLLECTION ITEMS ARE USED TO ACQUIRE OTHER ITEMS FOR COLLECTION. PART III, LINE 4: ORGANIZATION'S COLLECTIONS: COLLEGE COLLECTIONS ARE PRIMARILY ART OBJECTS HELD FOR PUBLIC EXHIBITION AND EDUCATION. PART IV, LINE 2B: CUSTODIAL ACCOUNTS: THE COLLEGE HOLDS $25,000 OF SECURITY DEPOSITS ON ITS RENTAL PROPERTIES. PART V, LINE 4: ENDOWMENT FUNDS: THE COLLEGE'S ENDOWMENT IS INVESTED WITH THE INTENT OF BALANCING THE GOALS OF GENERATING A STEADY, STABLE STREAM OF FUNDS TO SUPPORT THE CURRENT OPERATIONS OF THE COLLEGE WHILE PRESERVING THE PURCHASING POWER OF THE ENDOWMENT TO SUPPORT PROGRAMS AND INITIATIVES FOR FUTURE GENERATIONS OF BOWDOIN STUDENTS. THE TOP FOUR USES OF THE ENDOWMENT FOR FY 2023 WERE AS FOLLOWS: FINANCIAL AID 47.1%; FACULTY COMPENSATION, ACADEMIC PROGRAMS AND RESEARCH 23.8%; GENERAL OPERATIONS 17.7%; LIBRARY AND MUSEUM PROGRAM SUPPORT 5.8%. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AND IS GENERALLY EXEMPT FROM INCOME TAXES AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. THE COLLEGE ASSESSES UNCERTAIN TAX POSITIONS AND HAS DETERMINED THERE WERE NO SUCH POSITIONS THAT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED GAIN ON INTEREST RATE SWAP 1,249,000. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST -1,422,000. NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS 1,251,000. LOSS ON ASSET RETIREMENT OBLIGATION -73,000. UNCOLLECTIBLE PLEDGES -882,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: DEFERRED & EXCISE TAX LIABILITIES -1,930,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEFERRED & EXCISE TAX LIABILITIES -1,930,000. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION MEETS THE CRITERIA ESTABLISHED IN SECTION 4.0 REVENUE PROCEDURE 75-50. THE COLLEGE DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY. IT SATISFIES THE PUBLICITY REQUIREMENT BY INCLUDING A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IN ALL ITS BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. IT ALSO REFERENCES ITS RACIALLY NONDISCRIMINATORY POLICY IN OTHER WRITTEN ADVERTISING THAT IT USES AS A MEANS OF INFORMING PROSPECTIVE STUDENTS OF ITS PROGRAMS. SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN VARIOUS STUDENT FINANCIAL AID PROGRAMS FROM THE U.S. DEPARTMENT OF EDUCATION, INCLUDING THE FOLLOWING: PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND COLLEGE WORK STUDY PROGRAMS. LINE 6 - EXPLANATION OF ASSISTANCE FROM A GOVERNMENTAL AGENCY: THE COLLEGE RECEIVED REIMBURSEMENTS FROM THE FEDERAL EMERGENCY MANAGEMENT AGENCY FOR COSTS ASSOCIATED WITH COVID-19 DIAGNOSTIC TESTING OF STUDENTS, FACULTY, AND STAFF. 1 EUROPE (INCLUDING ICELAND AND GREENLAND) GRANTMAKING 431000 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 1058198000 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS 25623000 SUB-SAHARAN AFRICA INVESTMENTS 49370000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SEE PART V 18000 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES SEE PART V 128000 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDENT RECRUITMENT 9000 NORTH AMERICA PROGRAM SERVICES SEE PART V 66000 NORTH AMERICA PROGRAM SERVICES STUDENT RECRUITMENT 1000 NORTH AMERICA 1 22 PROGRAM SERVICES SCIENTIFIC STATION 223000 SOUTH AMERICA PROGRAM SERVICES SEE PART V 6000 SOUTH AMERICA PROGRAM SERVICES STUDENT RECRUITMENT 2000 SOUTH ASIA PROGRAM SERVICES SEE PART V 2000 EUROPE (INCLUDING ICELAND AND GREENLAND) FUNDRAISING 4000 NORTH AMERICA FUNDRAISING 2000 SUB-SAHARAN AFRICA PROGRAM SERVICES SEE PART V 6000 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES SEE PART V 4000 EAST ASIA AND THE PACIFIC INVESTMENTS 7000 SOUTH ASIA INVESTMENTS 13000 0 0 1 22 1 22 1133843000 270000 1134113000 FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 23 431000 WIRE TRANSFER 1 0 1 1 1 0 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS: ELIGIBILITY FOR BOWDOIN GRANT ASSISTANCE IS "NEED BASED AND DETERMINED THROUGH ANALYSIS OF A FAMILY'S INCOME AND ASSETS. FAMILY INFORMATION IS COLLECTED THROUGH THE COLLEGE BOARD'S CSS/FINANCIAL AID PROFILE FORM, FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND THE FAMILY'S FEDERAL INCOME TAX RETURNS. EXCEPT FOR NATIONAL MERIT SCHOLARSHIPS, THE COLLEGE DOES NOT OFFER MERIT BASED AID. THE COLLEGE MAINTAINS A STUDENT AID OFFICE TO COUNSEL STUDENTS/FAMILIES ON HOW TO AFFORD A BOWDOIN EDUCATION AND TO ENSURE THAT AWARDS ARE IN COMPLIANCE WITH ESTABLISHED POLICIES AND PROCEDURES. PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN E: PROGRAM SERVICES ACTIVITY: PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. PART I, LINE 3, COLUMN F: BASIS OF ACCOUNTING: THE BASIS OF ACCOUNTING ON THE FINANCIAL STATEMENTS IS ACCRUAL. 1 TOWN OF BRUNSWICK 85 UNION STREET BRUNSWICK ME 04011 999999999 GOV'T 485780 0 CONTRIBUTION FIRST PARISH CHURCH 9 CLEAVELAND STREET BRUNSWICK ME 04011 131957221 501(C)(3) 50000 0 CONTRIBUTION BRUNSWICK DOWNTOWN ASSOCIATION PO BOX 15 BRUNSWICK ME 04011 753131242 501(C)(3) 25450 0 CONTRIBUTION TOWN OF HARPSWELL PO BOX 39 HARPSWELL ME 04079 999999999 GOV'T 20600 0 CONTRIBUTION SMITHSONIAN INSTITUTION 1000 JEFFERSON DRIVE SW WASHINGTON DC 20560 530206027 501(C)(3) 10000 0 CONTRIBUTION SIX RIVERS YOUTH SPORTS INC PO BOX 254 TOPSHAM ME 04086 880878967 501(C)(3) 10000 0 CONTRIBUTION UNITED WAY OF MID COAST MAINE 34 WING FARM PARKWAY BATH ME 04530 016004866 501(C)(3) 10500 0 CONTRIBUTION 7 0 FINANCIAL ASSISTANCE FOR UNDERGRADUATE STUDENTS 1000 53579000 STUDENT RESEARCH FELLOWSHIPS 742 2406000 GRAD. STUDENT FINANCIAL AID & POST GRAD. AWARDS 92 473000 ACADEMIC ACHIEVEMENT & OTHER STUDENT AWARDS 353 143000 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS: GRANTS TO ORGANIZATIONS IN THE U.S. THE ALLOCATION OF GRANTS AND OTHER ASSISTANCE TO LOCAL ORGANIZATIONS AND MUNICIPALITIES IS DETERMINED ON AN ANNUAL BASIS BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND TREASURER. GRANTS TO INDIVIDUALS IN THE U.S. ELIGIBILITY FOR BOWDOIN GRANT ASSISTANCE IS "NEED BASED AND DETERMINED THROUGH ANALYSIS OF A FAMILY'S INCOME AND ASSETS. FAMILY INFORMATION IS COLLECTED THROUGH THE COLLEGE BOARD'S CSS/FINANCIAL AID PROFILE FORM, FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND THE FAMILY'S FEDERAL INCOME TAX RETURNS. EXCEPT FOR NATIONAL MERIT SCHOLARSHIPS, THE COLLEGE DOES NOT OFFER MERIT BASED AID. THE COLLEGE MAINTAINS A STUDENT AID OFFICE TO COUNSEL STUDENTS/FAMILIES ON HOW TO AFFORD A BOWDOIN EDUCATION AND TO ENSURE THAT AWARDS ARE IN COMPLIANCE WITH ESTABLISHED POLICIES AND PROCEDURES. X X X X 1 1 X X X X 1 0 0 0 0 0 0 1 0 K NILES BRYANT SVP/CHIEF INVESTMENTS OFFICER 601850 0 1200000 0 2840 0 40188 0 29306 0 1874184 0 0 0 BORIS RAYKIN DIRECTOR OF INVESTMENTS 458438 0 466875 0 1850 0 40188 0 1730 0 969081 0 0 0 PAGE MACHLIN DIRECTOR OF INVESTMENTS 375000 0 450000 0 1139 0 40188 0 3099 0 869426 0 0 0 CLAYTON ROSE PRESIDENT 569682 0 0 0 106746 0 48317 0 56245 0 780990 0 0 0 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 387004 0 0 0 17430 0 69160 0 29140 0 502734 0 0 0 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 342766 0 0 0 23449 0 74254 0 39070 0 479539 0 0 0 STEPHANIE FROST SVP FOR DEVELOPMENT & AR 377390 0 0 0 52073 0 22906 0 26833 0 479202 0 0 0 ASHLEY LABRECK ENDOWMENT CHIEF OP OFFICER 190664 0 175500 0 684 0 49922 0 29730 0 446500 0 0 0 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 311107 0 0 0 12037 0 69716 0 28741 0 421601 0 0 0 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 282436 0 0 0 18119 0 75075 0 27767 0 403397 0 0 0 MICHAEL ARCHIBALD VP FOR DEVELOPMENT & AR 294792 0 0 0 3232 0 44758 0 25389 0 368171 0 0 0 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 259138 0 0 0 14814 0 62540 0 13579 0 350071 0 0 0 ANN OSTWALD ASSOC DEAN FOR ACAD ADMIN 91719 0 0 0 218078 0 18979 0 6183 0 334959 0 0 0 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 254412 0 0 0 10907 0 55574 0 12063 0 332956 0 0 0 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 237744 0 0 0 12772 0 59708 0 22545 0 332769 0 0 0 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 258602 0 0 0 4576 0 36145 0 25818 0 325141 0 0 0 BENJE DOUGLAS SVP FOR INCLUSION & DIVERSITY 195130 0 0 0 1417 0 31694 0 25263 0 253504 0 0 0 SCOTT MEIKLEJOHN FRMR SVP FOR DEVELOPMENT & AR 148526 0 0 0 49210 0 22523 0 14315 0 234574 0 0 0 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 159417 0 0 0 11097 0 39302 0 23303 0 233119 0 0 0 MICHAEL REED FRMR SVP INCLUSION & DIVERSITY 0 0 0 0 208978 0 0 0 0 0 208978 0 0 0 PART I, LINE 1A BENEFITS: FIRST CLASS TRAVEL: A KEY EMPLOYEE FLEW ONE FLIGHT IN FIRST CLASS. PER THE COLLEGE'S EXPENSE REIMBURSEMENT POLICY, AIR TRAVEL IS GENERALLY REIMBURSED FOR COACH AIRFARE ONLY. THE POLICY PERMITS UPGRADES IN CERTAIN SITUATIONS AND WITH PRIOR APPROVAL. APPROVED UPGRADES ARE NOT INCLUDED IN TAXABLE COMPENSATION. TRAVEL FOR COMPANIONS: SPOUSAL/PARTNER TRAVEL IS PERMISSIBLE IN INSTANCES WHERE THE PRESENCE OF A SPOUSE/PARTNER IS REQUIRED TO FURTHER A COLLEGE PURPOSE. THE AMOUNTS ARE COVERED UNDER THE COLLEGE'S EXPENSE REIMBURSEMENT POLICY. DURING THE TAX YEAR, THE ATTENDANCE OF THE PRESIDENT'S SPOUSE WAS REQUIRED AT CERTAIN COLLEGE EVENTS. RELATED TRAVEL COSTS WERE NONTAXABLE. GROSS-UP PAYMENTS: A FORMER KEY EMPLOYEE RECEIVED A GROSS-UP PAYMENT ON A TAXABLE LENGTH OF SERVICE AWARD. A HIGHEST COMPENSATED EMPLOYEE RECEIVED A GROSS-UP PAYMENT ON A TAXABLE LENGTH OF SERVICE AWARD. HOUSING ALLOWANCE: THE COLLEGE REQUIRES THE PRESIDENT TO LIVE ON CAMPUS IN COLLEGE-PROVIDED HOUSING. THE VALUE OF THE BENEFIT IS INCLUDED IN PART II, COLUMN D FOR PRESIDENT CLAYTON ROSE. PART I, LINE 4A SEVERANCE OR CHANGE OF CONTROL PAYMENTS: A FORMER KEY EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $208,978. A FORMER KEY EMPLOYEE WILL RECEIVE SUPPLEMENTAL WAGES IN CALENDAR YEARS 2023 AND 2024, IN THE AMOUNT $150,000 FOR EACH YEAR. A HIGHEST COMPENSATED EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $191,000. PART I, LINE 7 THREE HIGHEST COMPENSATED EMPLOYEES RECEIVED A BONUS WHICH WAS DETERMINED AT THE DISCRETION OF A KEY EMPLOYEE. A MAINE HHEFA 010314384 NONEAVAIL 2017-04-03 20700000 REISSUE-2008 BOND 0 0 0 B MAINE HHEFA 010314384 56042RPK2 2017-12-28 35978713 ADVANCE REFUNDING 0 0 0 C MAINE HHEFA 010314384 56042RSC7 2018-11-29 32389091 CONSTRUCTION 0 0 0 A 20700000 20700000 2017 1 0 1 1 B 35978713 409145 35569568 2017 0 1 1 1 C 1530000 33121980 386973 32735007 2021 0 0 1 1 A 0 1 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 0 0 0.00180 0.00000 0.00180 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 PART I BONDS A, B, C COLUMN (A): THE ISSUER NAME IS MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY PART I BOND A COLUMN (F): THE ISSUE IS A DIRECT PLACEMENT REMARKETING OF THE SERIES 2008 ISSUED 03/24/2008 PART I BOND B COLUMN (F): PARTIALLY ADVANCE REFUND 2009A ISSUED 05/14/2009 PART I BOND C COLUMN (F): FINANCE CONSTRUCTION, RENOVATION AND EQUIPPING OF FACILITIES, OWNED OR TO BE OWNED BY THE INSTITUTION AND LOCATED ON ITS CAMPUS IN BRUNSWICK, MAINE, INCLUDING SEVERAL UPPER-CLASS HOUSING BUILDINGS AND A NEW ACADEMIC BUILDING CONTAINING LARGE FLEXIBLE CLASSROOMS, A CINEMA, AND AN EVENT SPACE. PART II, LINE 11 COLUMN A, B: THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW. PART II, LINE 3 COLUMN C: THE DIFFERENCE BETWEEN THE TOTAL PROCEEDS AND THE ISSUE PRICE IS DUE TO INTEREST EARNINGS ON PROJECT FUNDS IN THE AMOUNT $732,889. PART III, LINE 4, COLUMN A: THE EQUITY CONTRIBUTION TO THE PROJECT IS GREATER THAN THE THIRD PARTY USE OF THE SPACE SO THERE IS NO PRIVATE BUSINESS USE. PART IV, LINE 2C, COLUMN A: THE CALCULATION FOR ARBITRAGE REBATE WAS COMPLETED ON 05/03/2022. PART IV, LINE 2C COLUMN B: THE CALCULATION FOR ARBITRAGE REBATE WAS COMPLETED ON 11/29/2021. PART IV, LINE 2C COLUMN C: THE CALCULATION FOR ARBITRAGE REBATE WAS COMPLETED ON 12/28/2021. NA N/A 10875 SCHOLARSHIP BENEFIT SPOUSE OF OFFICER OFFICER: M. ORLANDO 17000 COMPENSATION 0 SPOUSE OF KEY EMPLOYEE KEY EMP: S. HOOD 165000 COMPENSATION 0 X 731 SEE PART II X 196 3068000 SEE PART II 7 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 9: 185 GIFTS OF PUBLICLY TRADED SECURITIES WERE VALUED AT FAIR MARKET VALUE. 11 PLANNED GIFTS WERE VALUED AT NET PRESENT VALUE. PART I, LINE 33: ART - WORKS OF ART: THE COLLEGE DOES NOT RECOGNIZE REVENUE FOR CONTRIBUTIONS OF ART OBJECTS OR BOOKS AND PUBLICATIONS. FORM 990, PART I, LINE 1 AND PART III, LINE 1: ORGANIZATION'S MISSION: IT IS THE MISSION OF THE COLLEGE TO ENGAGE STUDENTS OF UNCOMMON PROMISE IN AN INTENSE FULL-TIME EDUCATION OF THEIR MINDS, EXPLORATION OF THEIR CREATIVE FACULTIES, AND DEVELOPMENT OF THEIR SOCIAL AND LEADERSHIP ABILITIES IN A FOUR-YEAR COURSE OF STUDY AND RESIDENCE THAT CONCLUDES WITH A BACCALAUREATE DEGREE IN THE LIBERAL ARTS. THE FULL TEXT OF THE COLLEGE'S MISSION STATEMENT IS AVAILABLE ON THE ORGANIZATION'S WEBSITE AT HTTPS://WWW.BOWDOIN.EDU/ABOUT/MISSION/INDEX.HTML. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: IN APRIL, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE PRESIDENT AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND TREASURER FOR THOROUGH REVIEW IN ADVANCE OF REGULARLY SCHEDULED BOARD OF TRUSTEES MEETINGS AND FILING WITH THE INTERNAL REVENUE SERVICE (IRS) IN MAY. SUBSEQUENT TO THIS REVIEW, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE CHAIRMAN OF THE BOARD AND THE CHAIR OF THE AUDIT, RISK, AND REPUTATION COMMITTEE. ALL OTHER TRUSTEES ARE PROVIDED A PUBLIC DISCLOSURE COPY OF FORM 990 FOR REVIEW. THE SCHEDULE B AS FILED WITH THE IRS IS AVAILABLE TO ALL TRUSTEES, UPON REQUEST ONLY, AT THE BOARD OF TRUSTEES MEETINGS IN MAY. THE FORM 990 IS FILED WITH THE IRS AFTER THE TRUSTEES REVIEW AND APPROVE THE FORM AT THESE MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: THE COLLEGE SURVEYS ANNUALLY ALL MEMBERS OF THE BOARD, ALL OFFICERS OF INSTRUCTION, AND ALL OFFICERS OF ADMINISTRATION AS TO POTENTIAL CONFLICTS OF INTEREST. SURVEYS ARE REVIEWED BY THE COLLEGE'S LEGAL OFFICER. THE RESULTS OF THE SURVEY ARE REPORTED TO THE AUDIT, RISK, AND REPUTATION COMMITTEE AND TO THE BOARD OF TRUSTEES. THE COLLEGE'S LEGAL OFFICER MANAGES ALL CONFLICTS BY APPROPRIATE MEANS, INCLUDING BUT NOT LIMITED TO, BY REQUIRING BOARD MEMBERS TO RECUSE THEMSELVES FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY: IN ACCORDANCE WITH TREASURY REGULATION 53.4958-6 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, ACTING AS A COMPENSATION COMMITTEE, ANNUALLY REVIEWS AND APPROVES THE COMPENSATION OF THE PRESIDENT AND SENIOR MANAGEMENT OFFICIALS. IN ALL CASES, THE EXECUTIVE COMMITTEE CONSIDERS COMPENSATION SURVEYS AND COMPETITIVE MARKET DATA. FOR SENIOR MANAGEMENT, THE PRESIDENT PROVIDES THE EXECUTIVE COMMITTEE WITH RECOMMENDED CHANGES TO COMPENSATION LEVELS. THE EXECUTIVE COMMITTEE DOCUMENTS SUCH DECISIONS IN ITS MINUTES WHERE APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT HTTPS://WWW.BOWDOIN.EDU/FINANCE/FINANCIAL-DOCUMENTS/INDEX.HTML. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON INTEREST RATE SWAP 1,249,000. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST -1,422,000. NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS 1,251,000. LOSS ON ASSET RETIREMENT OBLIGATION -73,000. UNCOLLECTIBLE PLEDGES -882,000. POLAR BEAR INVESTMENTS LLC 5400 COLLEGE STATION BRUNSWICK ME 04011 043375078 INVESTMENTS ME 8335874 195962340 BOWDOIN TP PARTNERSHIP 565 FIFTH AVENUE 19TH FL NEW YORK NY 10017 550648835 INVESTING NY N/A EXCL. 512, 513, 514 40681 0 1 0.56020 VERSO OPPORTUNITIES FUND LP 1700 MONTGOMERY STREET SUITE 108 SAN FRANCISCO CA 94111 874310965 INVESTING CA N/A EXCL. 512, 513, 514 333928 16839488 0 0 0.57160 POOLED INCOME FUNDS (3) SEE PART VII BRUNSWICK ME 04011 INVESTING ME BOWDOIN T 1 CHARITABLE REMAINDER TRUSTS (17) SEE PART VII BRUNSWICK ME 04011 INVESTING ME BOWDOIN T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 POOLED INCOME FUND A S 85884 FMV POOLED INCOME FUND B S 361273 FMV POOLED INCOME FUND C S 243023 FMV CHARITABLE REMAINDER TRUST S 270106 FMV PART IV: POOLED INCOME FUNDS AND CHARITABLE REMAINDER TRUSTS DOMICILED: THERE ARE 3 POOLED INCOME FUNDS REPORTED IN PART IV. ALL ARE DOMICILED IN MAINE. THERE ARE 17 CHARITABLE REMAINDER TRUSTS REPORTED IN PART IV. 11 ARE DOMICILED IN MAINE, 1 IN CALIFORNIA, 1 IN CONNECTICUT, 1 IN ILLINOIS, 1 IN NEW JERSEY, 1 IN NEW YORK AND 1 IN NORTH CAROLINA.