2023-05-09T13:16:02-07:00 2022-06-30 990 2021-07-01 930386908 REED INSTITUTE REED 5037777505 3203 SE Woodstock Blvd Portland OR 972028199 Robert Tust Associate Treasurer and Controller 5037777505 2023-04-14 1 11 1 AAL2 2021 2023-04-26 12:10:37Z REED COLLEGE Robert Tust Business Office 3203 SE Woodstock Blvd Portland OR 97202 296549568 0 X www.reed.edu X 1908 OR Provide education in the liberal arts and sciences 28 27 1709 828 653565 0 15742377 24672636 93997871 115186295 25778534 38832631 -28956 6131447 135489826 184823009 30733155 38834177 0 0 61224735 64446582 40700 0 5082286 37620366 43080669 129618956 146361428 5870870 38461581 1033562980 1011067544 167550739 181952607 866012241 829114937 The mission of Reed College is to provide education in the liberal arts and sciences. 0 0 2090845 2090845 The Institute had 29 research grants funded with federal funds. Departments funded were Biology, Chemistry, Humanities, Physics, Psychology, Math, and the nuclear reactor. 110291130 0 102224251 1,532 FTE Students as of Fall 2021, 302 degrees conferred 21/22. 20358740 16857028 Auxiliary services - students living in dorms, using dining facilities and bookstore. 0 0 0 132740715 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 1956 0 1 1709 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X X Lynn Valenter 5037777240 Vice President and Treasurer 3203 SE Woodstock Blvd Portland OR 972028199 Audrey Bilger President 40 0 X X 556834 0 45784 Hugh Porter Vice President for College Relations and Planning 40 0 X 379400 0 49184 Erik Bernhardt Chief Investment Officer 40 0 X 333594 0 51375 Lorraine Arvin VP and Treasurer 40 0 X 291550 0 33091 Kathryn Oleson Dean of the Faculty 40 0 X 223125 0 42093 Mary James AA Knowlton Professor of Physics 40 0 X 221492 0 42019 Milyon Trulove Vice President and Dean of Admission and Financial Aid 40 0 X 217747 0 43824 Nigel J Nicholson Walter Mintz Professor of Greek, Latin, and Ancient Mediterranean Studies and Humanities 40 0 X 217756 0 41496 Karnell McConnell-Black Vice President for Student Life 40 0 X 203788 0 29870 Amanda Heaton Executive Director of Communications and Public Affairs 40 0 X 187837 0 35770 Robert Tust Associate Treasurer and Controller 40 0 X 181450 0 40339 Lynn Valenter Vice President of Finance and Treasurer 40 0 X 152045 0 22085 Dr Julia P Adams '80 Trustee 1 0 X 0 0 0 Konrad S Alt '81 Trustee 1 0 X 0 0 0 Dr Michael S Axley '89 Trustee 1 0 X 0 0 0 Carla J Beam '76 Trustee 1 0 X 0 0 0 Peter J Bragdon Trustee 1 0 X 0 0 0 M Jane Buchan Trustee 1 0 X 0 0 0 Thomas O Daniel MD Trustee 1 0 X 0 0 0 Kurt Delbene Trustee (through 12/2021) 1 X 0 0 0 Nicholas Galakatos '79 Trustee 1 0 X 0 0 0 Edward Hall '87 Trustee 1 0 X 0 0 0 Dr Dennis James Henner Trustee (through 4/2022) 1 0 X 0 0 0 Linda G Howard '70 Trustee 1 0 X 0 0 0 George M James '77 Trustee 1 0 X 0 0 0 Deborah D Kamali '85 Trustee 1 0 X 0 0 0 Christine E Lewis '07 Trustee 1 0 X 0 0 0 Amy M Madigan Trustee 1 0 X 0 0 0 Alex J Martinez '73 Trustee 1 0 X 0 0 0 Winthrop McCormack Trustee 1 0 X 0 0 0 Adrienne Nelson Trustee 1 0 X 0 0 0 Margaret Hill Noto '75 Trustee-Secretary 1 0 X 0 0 0 Eduardo Ochoa '73 Trustee 1 0 X 0 0 0 Darlene Pasieczny Trustee (through 4/2022) 1 0 X 0 0 0 Roger M Perlmutter MD '73 Trustee-Chairman 1 0 X 0 0 0 Gary Rieschel '79 Trustee 1 0 X 0 0 0 Lisa Saldana '94 Trustee 1 0 X 0 0 0 John P Sheehy '82 Trustee 1 0 X 0 0 0 Alice Larkin Steiner '74 Trustee 1 0 X 0 0 0 Peter C Stockman '77 Trustee 1 0 X 0 0 0 Richard H Wollenberg '75 Trustee-Vice Chairman 1 0 X 0 0 0 3166618 0 476930 133 0 1 0 Bon Appetit Suite 100 2730 Sand Hill Road Menlo Park CA 94025 Food service 4112744 Workwell Enterprises LLC 230 Commerce No 100 Irvine CA 92602 Health services 3581190 Reimers & Jolivette Inc 2344 NW 24th Ave Portland OR 972102132 Construction 1146828 Total Mechanical Inc 4857 NW Lake Rd Ste 300 Camas WA 98607 Mechanical contractor 511977 EAB Global Inc 1920 E Parham Rd Richmond VA 23228 Enrollment services 500230 29 0 0 0 0 8609392 16063244 1630543 24672636 Tuition and fees 611310 92955172 92955172 0 0 Aux-Dorm fees 611710 8811158 8811158 0 0 Aux-Cafeteria fees 611710 7065328 7065328 0 0 Aux-Bookstore fees 611710 980543 980543 0 0 Other fees 611310 5374094 5374094 0 0 0 0 0 0 115186295 2169098 0 653565 1515533 3 0 0 3 0 0 0 0 422144 0 276526 0 145618 0 145618 0 0 145618 148113563 0 111450033 0 36663530 0 36663530 0 0 36663530 0 Post retirement benefit 900099 5985829 5985829 0 0 5985829 184823009 121172124 653565 38324684 X 0 0 38834177 38834177 0 0 0 0 2411009 816517 1145378 449114 0 0 0 0 43122918 38187117 2434872 2500929 4065427 3482380 319657 263390 11559574 9901747 908908 748919 3287654 2816152 258502 213000 0 0 0 0 308464 0 308464 0 200512 1762 198750 0 0 0 0 0 0 0 0 0 0 0 16218386 14869841 902873 445672 0 0 0 0 7549863 7229934 204985 114944 1569601 1440887 76508 52206 0 0 0 0 2236212 2199934 30789 5489 1532815 1082326 260004 190485 0 0 0 0 0 0 0 0 3774249 3566219 176553 31477 0 0 0 0 6411408 6071416 288548 51444 1495800 574117 921683 0 Loss on debt refinancing 1050764 1050764 0 0 732595 615425 101953 15217 146361428 132740715 8538427 5082286 72292 42182 11800102 41966996 7714531 5828973 1289738 6368940 57066 51328 0 0 2428112 2052332 0 0 849853 1126160 283995860 124476952 157796264 159518908 98418742 156104936 750364268 635272450 2772012 2734339 1033562980 1011067544 7557312 12106686 0 0 2798082 1866982 104807408 0 0 0 0 0 0 0 0 123891378 52387937 44087561 167550739 181952607 X 467957107 454877410 398055134 374237527 866012241 829114937 1033562980 1011067544 X 38461581 -75358886 0 0 0 1 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 28000 0 602643 0 1 1 747245126 8981442 -29276734 9254153 20216123 1044355 696435203 545093997 3583571 228220147 9007314 19705050 940225 747245126 552893342 10392051 10802125 8809045 19215535 968941 545093997 555583468 5887789 19616221 8653378 18923206 617552 552893342 516219094 13379574 53942948 8519878 18859390 578880 555583468 0.51 0.29 0.2 0 0 0 14330063 14330063 0 245870625 107711219 138159406 0 0 0 0 0 18336534 16765733 1570801 0 5458638 0 5458638 159518908 0 0 Alternative Investments 635272450 F 635272450 Postretirement benefits payable 25247779 Liability for split-interest agreements 10820407 Asset retirement obligation 6180831 Refundable loan programs 990392 Other 848152 44087561 71620460 -75358886 0 0 0 -75358886 146979346 0 37843663 37843663 184823009 108556076 0 0 0 0 0 108556076 0 37805352 37805352 146361428 Schedule D, Part V, Line 4 The college's endowment funds are used for scholarships, chairs, academic support, library support, student services, and general operating support. Schedule D, Part XI, Line 4b Scholarships 37,004,425;Rental expenses -276,526; Loss on bond refunding 1,050,764; Grayco 65,000. Schedule D, Part XII, Line 4b Scholarships 37,004,425; Loss on debt refinancing 1,050,764; Grayco 26,689; Rental expenses -276,526; 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Statement on main website - https://www.reed.edu/ - and on https://www.reed.edu/diversity/index.html Schedule E, Part I, Line 6 Financial assistance is from Title IV programs and Federal emergency grants (Higher Education Emergency Relief Fund and Federal Emergency Management Agency). Central America and the Caribbean Investments 24634903 South Asia Investments 4957453 East Asia and the Pacific Investments 2468247 Europe (including Iceland and Greenland) Investments 3669559 0 0 35730162 1 0 1 1 1 0 1 Reed Grants 881 37004425 0 Other awards 344 1201192 0 Schedule I, Part I, Line 2 he financial aid office awards grants to students based on the students financial aid application. Once classes begin, grants are disbursed to the student accounts where they offset tuition charges. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Audrey Bilger President 510370 0 0 0 46464 0 29000 0 16783 0 602617 0 Hugh Porter Vice President for College Relations and Planning 378097 0 0 0 1303 0 29000 0 20184 0 428584 0 Erik Bernhardt Chief Investment Officer 333594 0 0 0 0 0 29000 0 22375 0 384969 0 Lorraine Arvin VP and Treasurer 291550 0 0 0 0 0 29000 0 4091 0 324641 0 Kathryn Oleson Dean of the Faculty 223125 0 0 0 0 0 22313 0 19780 0 265218 0 Mary James AA Knowlton Professor of Physics 221492 0 0 0 0 0 22059 0 19960 0 263511 0 Milyon Trulove Vice President and Dean of Admission and Financial Aid 217747 0 0 0 0 0 21684 0 22139 0 261570 0 Nigel J Nicholson Walter Mintz Professor of Greek, Latin, and Ancient Mediterranean Studies and Humanities 217756 0 0 0 0 0 21776 0 19720 0 259252 0 Karnell McConnell-Black Vice President for Student Life 203788 0 0 0 0 0 20379 0 9491 0 233658 0 Amanda Heaton Executive Director of Communications and Public Affairs 187837 0 0 0 0 0 18720 0 17049 0 223606 0 Robert Tust Associate Treasurer and Controller 181450 0 0 0 0 0 18145 0 22194 0 221789 0 Lynn Valenter Vice President of Finance and Treasurer 152045 0 0 0 0 0 15197 0 6888 0 174130 0 Schedule J, Part I, Line 1a Housing is required as a condition of employment for the President and is provided as a taxable benefit. Milyon Trulove Current Officer Housing Loan X 60000 51328 0 0 1 51328 X 71 1117037 market value X 1 478854 market value X 1 34652 market value 1 0 1 0 Schedule M, Part I, Line 9 The number reported in Part I, column (b) represents a combination of contributions and items contributed. Form 990, Part VI, Section B, Line 11b An electronic draft of the Form 990 is provided to the Audit Committee of the Board of Trustees. The committee reviews, discusses, and provides input to management. After the Audit Committee accepts the Form 990, it is made available to all trustees for review. After any further trustee questions are resolved and a final copy of the return has been provided to the entire board, the Form 990 is filed. Form 990, Part VI, Section B, Line 12c Reed requires all officers and institutional trustees to complete a conflict of interest form annually. The form includes the college's conflict of interest policy and asks each individual about the existence of conflicts of interest. If a conflict of interest exists the officer or trustee is asked to describe the situation in their response. These forms are reviewed by the Vice-President and Treasurer and the Chair of the Audit Committee of the Board. Persons with a conflict are prohibited from participating in the Board and officer deliberations and decisions in those transactions. Form 990, Part VI, Section B, Line 15 The Executive Committee, which is comprised of independent Trustees and which functions as the College's compensation committee, annually reviews presidential and officer compensation data from comparable colleges along with other data provided by the Human Resources Office. They also conduct an annual performance evaluation of the President. Any changes in the President's compensation are approved by the Executive Committee, and communicated by the Chair of the Board of Trustees in writing to the President. The Executive Committee review and decisions on executive compensation are documented in the minutes of the Executive Committee meetings. These reviews are completed in June of each year. Form 990, Part VI, Section C, Line 19 Governing documents are available upon request. Conflict of interest policy and financial statements are available on the College's Office of the Treasurer website. Form 990, Part IX, Line 11g Form 990, Part IX, Line 11g - Other fees and services by function are as follows: COVID testing and lab services 1,350,206; Auxiliary and food service 5,661,976; Construction and maintenance 2,835,029; Instruction 1,181,820; Student services 2,222,582; Institutional Support 1,242,859; Public affairs 945,964; Academic Support 390,325; Research 387,625. Form 990, Part XI, Line 9 Rounding adjustment. David Eddings Fund LLC 3203 SE Woodstock Blvd Portland OR 97202 450929229 Holding Company OR REED INSTITUTE Excluded 108686 303001 0 0 1 0.67 Grayco Resources Inc 3203 SE Woodstock Blvd Portland OR 97202 930603357 Rental Activity OR The Reed Institute C 64167 1072595 1 1 Charitable remainder trust (28) 3203 SE Woodstock Blvd Portland OR 97202 Trust OR The Reed Institute T 0 Pooled Income Fund (1) 3203 SE Woodstock Blvd Portland OR 97202 Pooled Income Fund OR The Reed Institute T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 Grayco Resources Inc k 70000 Lease agreement. Grayco Resources Inc s 60000 Loan payments Grayco Resources Inc s 203613 Distributions