2024-05-15T18:31:26-05:00 2023-06-30 135565207 KPMG LLP 200 EAST RANDOLPH STREET SUITE 5500 CHICAGO IL 60601 990 2022-07-01 131935349 INTERNATIONAL COLLEGE - BEIRUT INTE 2125293005 305 EAST 47TH STREET 10TH FLOOR NEW YORK NY 10017 DONALD J SELINGER CHAIRMAN 2125293005 2024-05-15 1 DONALD SELINGER XXX-XX-XXXX 0 ZELJKO POPOVIC P01795951 3126651000 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOEL PEINADO 305 EAST 47TH STREET 10TH FLOOR NEW YORK NY 10017 71430725 0 X WWW.IC.EDU.LB X 1891 MA THE MISSION OF INTERNATIONAL COLLEGE IS TO PROVIDE ITS STUDENTS WITH EXEMPLARY CURRICULAR AND EXTRACURRICULAR PROGRAMS WHICH REFLECT THE BEST PRACTICES IN AMERICAN AND INTERNATIONAL EDUCATION. 33 33 755 33 0 0 2665882 4351227 7491760 14790833 12817101 10219665 34103241 3087421 57077984 32449146 512609 1264194 0 0 10758642 18649047 0 0 545159 36273971 11223988 47545222 31137229 9532762 1311917 181935809 189364914 30437050 36776623 151498759 152588291 X THE MISSION OF INTERNATIONAL COLLEGE IS TO EDUCATE YOUNG MEN AND WOMEN TO BE CAPABLE OF INITIATIVE AND CRITICAL THINKING, WHO WILL SERVE AS ROLE MODELS IN A GLOBAL SOCIETY. SEE SCHEDULE O FOR CONTINUATION.THE CURRICULUM AIMS FOR EXCELLENCE AT ALL LEVELS AND EMBRACES THE EDUCATION OF THE WHOLE PERSON. GRADUATES OF INTERNATIONAL COLLEGE WILL HAVE DEVELOPED SELF DISCIPLINE, PROBLEM SOLVING ABILITIES, SOCIAL RESPONSIBILITY, SELF CONFIDENCE AND AWARENESS OF, AND RESPECT FOR, THE INTERDEPENDENCE OF NATIONS IN ALL THEIR DIVERSITY. 0 0 23662700 1264194 17941837 WE ARE A PRIVATE COEDUCATIONAL, NOT-FOR-PROFIT, NONSECTARIAN, LIBERAL ARTS INSTITUTION, FROM PRESCHOOL THROUGH THE LEBANESE BACCALAUREATE, THE FRENCH BACCALAUREATE, AND THE COLLEGE PREPARATORY SCHOOL DIPLOMA. THERE WERE 3,547 STUDENTS SERVED IN FISCAL YEAR 2023. 23662700 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 22 1 1 1 1 LE 0 0 0 0 0 0 0 0 0 0 X 33 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA NY X TALAL EL JUNDI 2125293005 305 EAST 47TH STREET 10TH FLOOR NEW YORK NY 10017 X ELIZABETH ADELMAN TRUSTEE 1.00 X 0 0 0 SELIM BASSOUL TRUSTEE 1.00 X 0 0 0 MONA BAWARSHI '67 TRUSTEE 1.00 X 0 0 0 WAEL O BAYAZID '70 TRUSTEE 1.00 X 0 0 0 JONATHAN JON A CONNER TRUSTEE 1.00 X 0 0 0 FREDERIK O CRAWFORD TRUSTEE 1.00 X 0 0 0 WALID DAOUK '76 TRUSTEE 1.00 X 0 0 0 TM MAC DEFORD TRUSTEE 1.00 X 0 0 0 BAYARD DODGE TRUSTEE 1.00 X 0 0 0 AMAL A GHANDOUR TRUSTEE 4.00 X 0 0 0 YUSUF A KANAAN '71 TRUSTEE 1.00 X 0 0 0 MARWAN A MARSHI '79 TRUSTEE 1.00 X 0 0 0 SAFWAN MASRI TRUSTEE 1.00 X 0 0 0 JOHN G MCCARTHY JR TRUSTEE 1.00 X 0 0 0 MAHER MIKATI '98 TRUSTEE 1.00 X 0 0 0 ANWAR AL MULLA '63 TRUSTEE (TERM NOV. 2022) 1.00 X 0 0 0 MIRNA B NOUJAIM TRUSTEE 1.00 X 0 0 0 IAN REED TRUSTEE 1.00 X 0 0 0 MATHEW A REYNOLDS TRUSTEE 1.00 X 0 0 0 MU'TAZ SAWWAF TRUSTEE 1.00 X 0 0 0 TALAL K SHAIR '83 TRUSTEE 1.00 X 0 0 0 ISSAM SHAMMAS '63 TRUSTEE 1.00 X 0 0 0 RABIH SHIBLI TRUSTEE 1.00 X 0 0 0 AHMAD TAYEB TRUSTEE 1.00 X 0 0 0 MAY THEODORE TRUSTEE 1.00 X 0 0 0 MAYA TOHME TRUSTEE 1.00 X 0 0 0 JOHN KHABBAZ TRUSTEE 1.00 X 0 0 0 ANTHONY JONES ASSISTANT TREASURER 1.00 X X 0 0 0 GERRIT KEATOR ASSISTANT SECRETARY 1.00 X X 0 0 0 DONALD J SELINGER CHAIRMAN 5.00 X X 0 0 0 IMAD TAHER '58 VICE CHAIRMAN 4.00 X X 0 0 0 WILLIAM H TURNER TREASURER 2.00 X X 0 0 0 RICHARD S WARD SECRETARY 2.00 X X 0 0 0 JOEL PEINADO PRESIDENT 40.00 X 403000 0 64123 TALAL EL JUNDI CFO AND VP 40.00 X 137926 0 17505 MOUFID BEYDOUN VP MAJOR GIFTS & DIR. ALUMNI & ADV. 40.00 X 152999 0 21582 KATHLEEN KHAYATT ELEMENTARY SCHOOL DIRECTOR 40.00 X 132000 0 40022 MAIZIA BOUALEM ASST. DIR. & HEAD OF PROGRAM-FRENCH 40.00 X 125004 0 5615 950929 0 148847 5 0 1 0 ABNIAH SARL ASHRAFIEH SURSOCK ST MOUTRAN BUIL BEIRUT LE CONSTRUCTION SERVICES 516658 USM DEVELOPMENT SAL HORSH TABET-SIN EL FIL- PO BOX-5500 BEIRUT LE CLEANING SERVICES 454878 MORGAN STANLEY ONE FAWCETT PL 3RD FLOOR GREENWICH CT 06830 INVESTMENT SERVICES 427436 TRIPLE C TRIPLE C BUILDING FANAR MAIN STREE BEIRUT LE COMPUTER SERVICES 342494 4 64500 4286727 2892 4351227 STUDENT TUITION & FEES 611710 14203333 14203333 INSTRUCTION MATERIALS 611710 587500 587500 14790833 2214785 2214785 46708651 214225 38917996 0 7790655 214225 8004880 8004880 0 64500 63583 -63583 -63583 GAIN-CURRENCY EXCHANGE 900099 2777171 2777171 OTHER REVENUE 900099 373833 373833 3151004 32449146 17941837 0 10156082 1264194 1264194 710876 710876 13899316 12222539 1383666 293111 46156 34006 11311 839 3992699 2339457 1569560 83682 42525 42525 175529 175529 402849 402849 472273 372082 94831 5360 7258 7258 3990000 2933731 944947 111322 645006 645006 84000 12000 72000 98289 9718 37726 50845 398 398 496183 496183 3986042 3150660 835382 612681 612681 OFF CAMPUS 139155 111324 27831 STUDENT ACTIVITIES 69313 69313 AUXILIARY SERVICES 2487 2487 31137229 23662700 6929370 545159 1917150 3685710 421339 1631799 446929 90035 202012 222516 150336383 54660881 96628816 95675502 82269333 88018021 50230 41331 181935809 189364914 1879231 4123249 2999805 6521358 24922147 25418330 635867 713686 30437050 36776623 X 128855880 127542737 22642879 25045554 151498759 152588291 181935809 189364914 1311917 -222385 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31137229 31137229 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 20287638 126950 3283167 1072815 22624940 24448737 28653 -3071343 1118409 20287638 19398253 53682 6092977 1096175 24448737 17639410 114199 2561831 917187 19398253 16653297 57623 1777221 848731 17639410 0.35850 0.64150 0 0 6749695 6749695 117036426 33387714 83648712 26550262 21273167 5277095 95675502 ACCRUED RETIREMENT INDEMNITIES 713686 713686 X 30559719 -222385 -1264193 -1486578 32046297 402849 402849 32449146 29470187 0 29470187 402849 1264193 1667042 31137229 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR SCHOLARSHIPS, FACULTY DEVELOPMENT, ACADEMIC PROGRAMS, AWARDS AND OVERALL GENERAL PURPOSES. PART X, LINE 2: THE COLLEGE HAS BEEN CLASSIFIED AS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. THE COLLEGE IS, HOWEVER, SUBJECT TO UNRELATED BUSINESS INCOME TAX ON A PORTION OF INCOME DERIVED FROM ITS ALTERNATIVE INVESTMENTS. THE COLLEGE RECOGNIZES THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. THE COLLEGE EVALUATES, ON AN ANNUAL BASIS, THE EFFECTS OF ANY UNCERTAIN TAX POSITIONS OF ITS FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2018. AS OF JUNE 30, 2023 AND 2022, THE COLLEGE HAS NOT IDENTIFIED OR PROVIDED ANY SUCH POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -1,264,193. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,264,193. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION'S NONDISCRIMINATORY POLICY IS AVAILABLE ON THEIR WEBSITE. INTERNATIONAL COLLEGE (IC), IN BEIRUT, LEBANON, SERVES A PREDOMINANTLY ARAB COMMUNITY IN WHICH A DIFFERENCE OF RELIGION IS MORE LIKELY A SOURCE OF DISCRIMINATION THAN RACE. IC'S 3,547 STUDENTS COME FROM ALL OVER LEBANON, AS WELL AS FROM OTHER COUNTRIES IN THE MIDDLE EAST AND AROUND THE WORLD. WE ARE PROUD OF OUR NON-SECTARIAN ADMISSIONS POLICY AND SIGNIFICANT FINANCIAL AID ASSISTANCE. ALL BROCHURES, ETC., DESCRIBING THE COLLEGE, ANNOUNCE THE NON-SECTARIAN NATURE OF THE SCHOOL. THE GUIDING STATEMENTS OF INTERNATIONAL COLLEGE CALL FOR ETHICAL BEHAVIOR, RESPECT FOR OTHERS, INTERDEPENDENCE, RESPONSIBILITY, AND COMPASSION. SCHEDULE E, PART I, LINE 6 INTERNATIONAL COLLEGE RECEIVED FINANCIAL AID ASSISTANCE FROM THE OFFICE OF AMERICAN SCHOOLS AND HOSPITALS ABROAD (ASHA). 0 MIDDLE EAST AND NORTH AFRICA 1 782 PROGRAM SERVICES EDUCATION 28090100 MIDDLE EAST AND NORTH AFRICA INVESTMENTS 1782935 MIDDLE EAST AND NORTH AFRICA GRANTS TO RECIPIENTS LOCATED IN THE REGION 1264194 1 782 0 0 1 782 31137229 0 31137229 SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 302 1264194 SCHOLARSHIPS CREDITED TO STUDENTS' ACCOUNTS FMV 0 0 0 0 0 1 PART I, LINE 2: APPLICATIONS FOR FINANCIAL AID SHOULD BE SUBMITTED AT THE STUDENT SECTION UNIT UPON APPOINTMENT. AN INTERVIEW IS MADE WITH THE PARENT/GUARDIAN OF THE APPLICANT. DOCUMENTS AND DEADLINES SHOULD BE RESPECTED. STUDENTS WHO WILL BE GRANTED FINANCIAL AID MUST HAVE SPENT AT LEAST ONE YEAR AT IC. THE COMMITTEE FOR FINANCIAL AID, WHICH CONSISTS OF THE EXECUTIVE MEMBERS, HOLDS A MEETING AROUND MAY AND MAKES THE FINAL DECISIONS CONCERNING FINANCIAL AID GRANTS TAKING INTO CONSIDERATION THE REMARKS BY THE INTERVIEWERS, THE APPLICANT'S FINANCIAL, ACADEMIC AND DISCIPLINARY RECORD. PART III ACCOUNTING METHOD: GALA DINNER 64500 64500 17000 29000 8000 9583 64500 64500 17000 29000 8000 9583 63583 -63583 X 1 1 X X 0 0 0 0 0 0 0 1 0 JOEL PEINADO PRESIDENT 378000 0 25000 0 0 0 8364 0 55759 0 467123 0 0 0 MOUFID BEYDOUN VP MAJOR GIFTS & DIR. ALUMNI & ADV. 127999 0 25000 0 0 0 0 0 21582 0 174581 0 0 0 KATHLEEN KHAYATT ELEMENTARY SCHOOL DIRECTOR 132000 0 0 0 0 0 19667 0 20355 0 172022 0 0 0 TALAL EL JUNDI CFO AND VP 97926 0 40000 0 0 0 0 0 17505 0 155431 0 0 0 PART I, LINE 1A THE COLLEGE REQUIRES THE PRESIDENT TO LIVE ON CAMPUS IN COLLEGE-PROVIDED HOUSING. THE BENEFIT IS NOT INCLUDED IN THE PRESIDENT'S TAXABLE OR NONTAXABLE COMPENSATION LISTED IN SCHEDULE J, PART II. THE COLLEGE PROVIDES HOUSING TO THE ASSISTANT DIRECTOR AND HEAD OF PROGRAM - FRENCH. THE BENEFIT IS NOT INCLUDED IN THE LISTED PERSON'S TAXABLE OR NONTAXABLE COMPENSATION. PART I, LINE 7 THE FOLLOWING INDIVIDUALS LISTED ON PART VII RECEIVED A NON-FIXED PAYMENT, IN THE FORM OF A BONUS, DURING THE YEAR: JOEL PEINADO - $25,000 MOUFID BEYDOUN - $25,000 TALAL EL JUNDI - $40,000 3964 EDUCATIONAL BENEFIT PART I, LINE 5 AND PART V, LINE 2A: THE AMOUNTS ON THESE TWO LINES DIFFER BECAUSE THE NUMBER OF EMPLOYEES REPORTED ON PART I, LINE 5 INCLUDES EMPLOYEES IN LEBANON IN ADDITION TO THE US-BASED EMPLOYEES (INCLUDED IN FORM W-3) REPORTED ON PART V, LINE 2A. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO FOR ACCURACY. ONCE IT IS COMPLETED, A COPY IS DISTRIBUTED TO THE CHAIRMAN BUT A COMPLETE COPY WAS NOT DISTRIBUTED TO THE ENTIRE BOARD BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO SIGN THE RESPECTIVE CONFLICT OF INTEREST QUESTIONNAIRES ON AN ANNUAL BASIS. IT IS REQUIRED THAT IF A POTENTIAL CONFLICT ARISES, SUCH BOARD MEMBERS, COMMITTEE MEMBERS, OR EMPLOYEES MUST RECUSE THEMSELVES FROM VOTING ON A RELATED MATTER. IF A POTENTIAL CONFLICT WOULD ARISE, THE BOARD WOULD ADDRESS IT APPROPRIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD DECIDES ON THE COMPENSATION PACKAGE, BASED ON THE MARKET SCALE, FOR THE PRESIDENT. FOR ALL OTHER POSITIONS, THE PRESIDENT AND THE DIRECTOR OF HUMAN RESOURCES DECIDE ON THE COMPENSATION PACKAGE BASED ON THE MARKET SCALE AND THE EXISTING SCALE IN THE SCHOOL. COMPENSATION FOR ALL DIRECTORS, ASSISTANT DIRECTORS, AND ASSOCIATE DIRECTOR POSITIONS ARE RECOMMENDED BY THE PRESIDENT AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A TALAL JUNDI SALARY: $40,969 OF HIS REPORTABLE SALARY IS CONSIDERED LOCAL DOLLARS WHICH REPRESENTS 14% OF THE REAL USD DOLLARS OR ACTUAL MARKET VALUE. MOUFID BEYDOUN: $45,659 OF HIS REPORTABLE SALARY IS CONSIDERED LOCAL DOLLARS WHICH REPRESENTS 14% OF THE REAL USD DOLLARS OR ACTUAL MARKET VALUE. FORM 990, PART VII, SECTION B ABNIAH: $ 396,243 OUT OF $516,658 WAS PAID AS LOCAL USDOLLARS WHICH REPRESENTS 14% OF THE REAL OR MARKET USDOLLARS VALUE.