2023-05-09T07:22:59-07:00 2022-06-30 990 2021-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 Noel Ward AVP for Finance and Controller 4103376572 2023-05-08 1 11 1 AAL2 2021 2023-04-26 12:10:37Z Kent Deveraux 1021 Dulaney Valley Road Towson MD 21204 141114612 0 X www.goucher.edu X 1885 MD Goucher College provides an innovative liberal arts education that prepares students with a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 40 39 1176 264 432563 0 23481871 19369740 59811953 70861038 9933474 4948891 305666 2993626 93532964 98173295 31355534 35846687 0 0 32169206 35729157 0 0 2323680 26114723 33775235 89639463 105351079 3893501 -7177784 461840721 435635122 130023099 122914127 331817622 312720995 Goucher College provides an innovative liberal arts education that prepares students with a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. The College's vision is to become a top-100 national liberal arts college known for offering a transformational education that delivers graduates who can solve complex problems within a diverse, global community. 0 0 78875111 34025500 63064614 The College provided an Undergraduate Arts and Sciences education to 1,067 students. Goucher's academic philosophy is focused on 3Rs: relationships, resilience, and reflection, and coursework reflects the core values of a liberal arts education: proficiency in English composition and in a foreign language, solid foundations in history, abstract reasoning, scientific discovery and experimentation, problem-solving, social structures, and environmental sustainability. A highlight of Goucher's unique liberal arts curriculum is the requirement that all undergraduates must study abroad at least once before graduation, making the College among the first in the nation to make such a bold move in globalized education. Goucher strives to educate the whole student and promotes a broad education over narrow career training. This gives graduates a wide range of professional options and increased ability to take advantage of new opportunities in developing fields-and even the capability to change careers. Goucher students master a range of knowledge, including the communication, critical thinking, and quantitative reasoning skills that U.S. employers overwhelmingly say they want job candidates to have. 7618265 1821187 7293138 The College provided a graduate education to 860 students. The Welch Center for Graduate and Professional Studies offers a diverse range of academic programs, including: Master of Arts and Master of Fine Arts degrees in areas such as education, teaching, historic preservation, arts administration, cultural sustainability, digital arts, nonfiction, management, and environmental sustainability, plus a post-baccalaureate premedical program. These programs are led by industry leaders who help students strengthen their skills, add to their knowledge base, and create professional opportunities wherever their passions lead. 442448 0 503286 The College provided credit and non-credit continuing studies course work for 484 participants. Goucher is home to the College Board's Advanced Placement (AP) Summer Institute, training teachers in AP courses from across the country and around the world. The Advanced Placement Summer Institute allows teachers to earn graduate credit while gaining College Board-certified preparation in most subject areas offered through AP programs. 0 0 0 86935824 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 3789 0 1176 1 1 1 1 BD 0 0 0 0 0 0 0 0 0 0 X 40 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR CO DC MA MD MI NH NJ NV NY OH OK OR SC WA X Noel Ward 4103376132 1021 Dulaney Valley Road Baltimore MD 21204 Kent Devereaux President 40.00 0.00 X X 392783 0 57420 Michele Y Ewing VP for Advancement 40.00 0.00 X 237181 0 35248 Elaine Meyer-Lee Provost 40.00 0.00 X 236277 0 24969 Jonathan Lindsay VP for Enrollment Management 40.00 0.00 X 213488 0 19658 Erik Thompson VP for Campus Operations 40.00 0.00 X 194520 0 2895 Aarika Camp Vice President of Student Affairs 40.00 0.00 X 176828 0 10465 Stephanie Coldren VP of Marketing and External Relations 40.00 0.00 X 126755 0 26717 David Grossman Associate Professor 40 0 X 145808 0 2283 Noel Ward Associate VP of Finance and Controller 40.00 0.00 X 137192 0 3550 Kristi Yowell Associate VP for Human Resources 40.00 0.00 X 134564 0 3488 William Leimbach VP for Information Technology and Planning 40.00 0 X 121522 0 9362 David Valentine VP for Finance and Administration 40.00 0.00 X 113378 0 10831 Kimara Ahnert-Class of 1991 Trustee 5.00 0.00 X 0 0 0 Patricia Batza-Class of 1991 Trustee 5.00 0.00 X 0 0 0 Robert Lee Bull Jr-Class of 1993 Trustee 10.00 0.00 X 0 0 0 Kara Byrne Bundy-Class of 2002 Trustee 5.00 0.00 X 0 0 0 Melinda J Burdette-Class of 1972 Trustee 10.00 0.00 X 0 0 0 Henry Cubillan Class of 1997 - May Trustee 5.00 0.00 X 0 0 0 Richard J Davis Trustee 5.00 0.00 X 0 0 0 Ann Duncan Trustee 5.00 0.00 X 0 0 0 Elizabeth Ellers-Class of 1981 Trustee 10.00 0.00 X 0 0 0 Janet Farrell Class of 1973 Trustee, Treasurer 10.00 0.00 X 0 0 0 Stefano Fiore Class of 2022 Trustee 5.00 0.00 X 0 0 0 Deanna Galer Class of 2017 Trustee 5.00 0.00 X 0 0 0 Damon Highsmith Class of 2003 Trustee 5.00 0.00 X 0 0 0 Linda K Himmelberger-Class of 1974 Trustee 5.00 0.00 X 0 0 0 Miriam Brown Hutchins-Class of 1973 Trustee 10.00 0.00 X 0 0 0 Miriam E Katowitz-Class of 1973 Trustee 10.00 0.00 X 0 0 0 Ruth Shapiro Lenrow Class of 1974 Trustee 5.00 0.00 X 0 0 0 John Edward Nobriga-Class of 2019 Trustee 5.00 0.00 X 0 0 0 Antonia Pettit - Class of 2020 Trustee 5.00 0.00 X 0 0 0 Alice Pinderhughes Class of 1973 Trustee 5.00 0.00 X 0 0 0 Faye Polayes-Class of 1973 Trustee 5.00 0.00 X 0 0 0 William E Pugh II-Class of 1994 Trustee, Vice Chair 20.00 0.00 X 0 0 0 Dr Jocelyn Reader-Class of 2002 Trustee, Secretary 10.00 0 X 0 0 0 Rosana Roig Class of 1978 Trustee 5.00 0.00 X 0 0 0 Madalyn Romberger Class of 2021 Trustee 5.00 0.00 X 0 0 0 Jonathan Schoenfeld Class of 1997 Trustee 5.00 0.00 X 0 0 0 Carolyn Schwarz Trustee 5.00 0.00 X 0 0 0 Ralph M Segall Trustee 5.00 0.00 X 0 0 0 Jodie H Slaughter-Class of 1979 Trustee 5.00 0.00 X 0 0 0 Lisa Lyden Stromberg-Class of 1983 Trustee, Chair 25.00 0.00 X 0 0 0 Stewart Thomsen Trustee 5 0 X 0 0 0 Marilyn S Warshawsky-Class of 1968 Trustee 5.00 0.00 X 0 0 0 Craig Watson Trustee 5.00 0.00 X 0 0 0 Betsy Weingarten-Class of 1988 Trustee 5.00 0.00 X 0 0 0 Toby Wertheim-Class of 1968 Trustee 5.00 0.00 X 0 0 0 Jon Wexler-Class of 1994 Trustee 5.00 0.00 X 0 0 0 Wendy S White-Class of 1972 Trustee 5.00 0.00 X 0 0 0 Margaret M Winslow-Class of 69 Trustee 5.00 0.00 X 0 0 0 Alex O Wood Class of 2006 Trustee 5.00 0.00 X 0 0 0 2230296 0 206886 32 0 1 0 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 4158632 Incline Alchemy Inc 575 Double Eagle Court Ste 220 Reno NV 89521 Management Information System Consultant 952000 Investigative Consulting & Services Inc 806 Frederick Rd Catonsville MD 21228 Security 788924 EAB Global Inc 2445 M Street NW Washington DC 20037 Educational Consultant 653974 Educators Advancement Group Inc dba K-12 Teachers Alliance 20624 Abbey Woods Court North Frankfort IL 60423 Program 643400 33 0 0 0 0 10761576 8608164 357463 19369740 Undergrad Tuition, Room, & Board 611310 63064614 63064614 0 0 Graduate Tuition, Room & Board 611310 7293138 7293138 0 0 Continuing Professional Education 611310 503286 503286 0 0 0 0 0 0 70861038 1051646 0 154114 897532 0 0 0 0 0 0 0 0 238367 0 138915 0 99452 0 99452 0 88842 10610 40737425 5918994 37052328 5706846 3685097 212148 3897245 0 0 3897245 0 0 0 0 0 0 0 0 0 0 0 0 103528 43228 60300 0 0 60300 Sale of Artwork 611310 2160000 0 0 2160000 Pilates 611699 150419 0 150419 0 Pool 713940 39188 0 39188 0 484267 0 0 484267 2833874 98173295 70861038 432563 7509954 0 0 35810849 35810849 35838 35838 0 0 1654345 642276 649120 362949 0 0 0 0 27614994 20682846 5807745 1124403 840117 577167 200261 62689 3605488 2612103 868154 125231 2014213 1468959 436514 108740 0 0 0 0 701783 144317 551676 5790 131443 0 131443 0 16401 0 16401 0 0 0 1118634 0 1118634 0 5822722 3852883 1928070 41769 522103 155544 146133 220426 2326978 1762593 485379 79006 2253441 137909 2115332 200 0 0 0 0 1794223 1657177 122875 14171 710466 637644 36592 36230 0 0 0 0 322597 294092 23857 4648 3825171 3824660 511 0 0 0 0 0 8603538 8087326 430177 86035 788303 0 788303 0 Food Service Costs 3875585 3875585 0 0 STUDY ABROAD 335447 335447 0 0 Food 277902 194024 40852 43026 Other Administrative 348498 146585 193546 8367 105351079 86935824 16091575 2323680 11040477 6978829 1199593 1210732 1029558 1593880 5744378 5970721 0 0 0 0 0 0 0 0 1860508 1665104 306843948 140633771 171892257 166210177 174769840 152358689 83364294 89826014 3548561 3400898 0 0 7391255 6420078 461840721 435635122 7856409 7828939 0 0 3500807 2663045 103030378 100229606 0 0 0 0 0 0 0 0 15635505 12192537 130023099 122914127 X 95430519 90680270 236387103 222040725 331817622 312720995 461840721 435635122 X -7177784 -14250548 0 0 0 2331705 X 0 1 X 1 1 1 X 15901533 9611723 10189472 23481871 19369740 78554339 0 0 0 0 0 0 0 0 0 0 0 0 15901533 9611723 10189472 23481871 19369740 78554339 12848301 65706038 2826985 3238763 2214272 1389826 1065047 10734893 0 0 0 0 0 0 716269 715079 655328 164469 2748901 5000046 94289278 392767812 0.69686 0.64982 X Schedule A, Part II, Line 10 Includes other revenue and sale of artwork. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 4554 0 1 11847 16401 0 Schedule C, Part II-B, Line 1 Members of Goucher's senior management team, faculty, staff and a select number of students participate the annual Independent Higher Education Day. The event was sponsored by the Maryland Independent College and University Association (MICUA), of which Goucher is a member, and brought students and administrators from across the state to Maryland's capital for a briefing and visits with elected officials. In addition, members of Goucher's staff met with elected officials on behalf of the College. The associated compensation for these activities is reported on line 1g. The organization paid membership dues of $8,024 to the National Association of Independent Colleges and Universities (NAICU) and $70,533 to the Maryland Independent Colleges and Universities Association (MICUA), both of which engage in lobbying activity. NAICU set aside approximately 7% of the dues paid to engage in non-deductible lobbying and political expenditures. MICUA set aside approximately 16% of the dues paid to engage in non-deductible lobbying and political expenditures. Accordingly, the College has reported an equal amount on line 1i. 0 0 X X X X X Education 1 259341000 5677000 -9759000 4879000 7069000 0 243311000 191378000 73947000 5993000 4842000 7135000 0 259341000 203430000 2548000 2599000 4658000 12541000 0 191378000 214921000 1330000 7470000 4547000 15744000 0 203430000 209577000 845000 16871000 4785000 7587000 0 214921000 0.155 0.394 0.451 1 0 0 14724349 14724349 0 259154401 115863653 143290748 0 0 0 0 0 28100685 24770118 3330567 0 4864513 0 4864513 166210177 0 0 Hedge Funds 24922319 F Limited Partnership Interest 64903695 F 89826014 0 Other long-term liabilities 5535148 Obligation under interest rate swap agreement 2098000 Refundable advances from U.S. government 949313 Asset Retirement Obligation 2098708 Payables and deferred revenues under split interest arrangements 1511368 12192537 X 51090000 -14250548 0 0 -33014624 -47265172 98355172 0 -181877 -181877 98173295 70187000 0 0 0 182250 182250 70004750 0 35346329 35346329 105351079 Schedule D, Part III, Line 1 The College did not disclose its collection and related policies in its financial statements. Schedule D, Part III, Line 4 The College art collection is comprised of works of fine art, including two-dimensional and three-dimensional art objects and miscellaneous objects of value. The art collection is owned by the College. Art objects are housed in buildings or on the campus grounds of the College or are loaned by the College to other institutions. The collection includes sculptures, prints, photographs, drawings, paintings, and other artistic objects. The collection is used for scholarly research, education, and public exhibition in furtherance of the exempt purposes of the College. Schedule D, Part V, Line 4 The endowment of Goucher College generated income to support the College both generally and in specific ways designated by our generous donors. Income, allocated across approximately 730 endowments, supports both merit and need-based scholarships of undergraduate and graduate students; fellowships; internships; professorships; lectureships; the College library; and the College's general operating budget. Schedule D, Part X, Line 2 The College is qualified as a not-for-profit organization under section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for 2022 or 2021. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2022, and 2021, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the accompanying financial statements. The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. Schedule D, Part XI, Line 2d Includes student financial aid of (33,686,484), revenue share of (643,400) paid to a service provider, investment fees of (1,118,634), unrealized gain on interest rate swap agreement of 2,331,705, and elimination of intercompany revenue of 99,189. Schedule D, Part XI, Line 4b Rental expenses of (138,915) and Cost of good sold of (43,228) presented net within revenues and a rounding adjustment of 266. Schedule D, Part XII, Line 2d Rental expenses of 138,915 and Cost of good sold of 43,228 presented net within revenues and a rounding adjustment of 107. Schedule D, Part XII, Line 4b Includes student financial aid of 33,686,484, revenue share of 643,400 paid to a service provider, investment fees of 1,118,634, and elimination of intercompany revenue of (99,189). 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 racially nondiscriminatory policy is published in the College's academic catalog, student handbook and on the website. Schedule E, Part I, Line 6 Schedule E, Part I, Line 6a - Schedule E, Part I, Line 6 - The College participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity Grant Program, Federal Work Study Program, Perkins Loan Program, Federal Direct Student Loans, and Teacher Education Assistance for College and Higher Education. The College also receives grants from the Maryland State Department of Education, Maryland Higher Education Commission and participates in the Maryland Sellinger Program. In addition, the College was awarded sponsored research and other program grants funded by the National Science Foundation, National Institute of Health, National Endowment for the Humanities, US Department of State, and the US Department of Education. 1 Central America and the Caribbean 0 0 Investments Investments 6172340 Central America and the Caribbean 0 0 Program Services Educational supplies 68723 East Asia and the Pacific 0 0 Program Services Educational supplies 28271 Europe (including Iceland and Greenland) 0 0 Program Services Educational supplies 305294 Middle East and North Africa 0 0 Program Services Educational supplies 76 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Educational supplies 4443 Sub-Saharan Africa 0 0 Program Services Educational supplies 2841 0 0 6581988 Student Financial Aid Central America and the Caribbean 2 3232 Credit to student account Student Financial Aid Europe (including Iceland and Greenland) 5 32606 Credit to student account 1 0 1 1 1 0 Schedule F, Part I, Line 2 The College provides institutional grant funds limited to need-based and merit-based assistance to its students while they participate in study abroad experiences. In general, grants are credited into the student's tuition account. Financial need is determined by subtracting the expected family contribution - as calculated on the Free Application of Federal Student Aid (FAFSA) - from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid, in cooperation with the Office of Global Education. Schedule F, Part IV, Line 1 The College, through its investment in various alternative assets, has transfers to foreign corporations during the year. The organization has transferred funds to foreign corporations through its alternative investment vehicles and will be filing Forms 926 with their Form 990T. Schedule F, Part IV, Line 3 The College, through its investment in various alternative assets, has interests in foreign corporations. However, the College's interest in any single foreign corporation was less than 10 percent. Accordingly, the College is not required to file Form 5471. Schedule F, Part IV, Line 4 The College, through its investment in various alternative assets and common collective trusts, was a direct or indirect shareholder of a passive foreign investment company or qualifying electing fund. In these cases, the investment manager files Form 8621 on its investors' behalf. Accordingly, the College is not required to file Form 8621. Schedule F, Part IV, Line 5 The College, through its investment in various alternative assets, has ownership in foreign partnerships. However, the College owned less than 10% of any single foreign partnership and it did not directly or indirectly transfer greater than $100,000 to any foreign partnership. Accordingly, the College is not required to file Form 8865. 1 Undergraduate and graduate grants, scholarships, and discounts 1723 33647646 0 Prizes, awards, internships and fellowships 161 230102 0 HEERF Grant - Emergency Student Grants 650 1933101 0 Schedule I, Part I, Line 2 Goucher College's institutional grant funds are limited to need-based and merit-based financial assistance for attendance at the College. Goucher College's comprehensive program of need-based and merit-based financial assistance is managed by the Office of Student Financial Aid. Financial need is determined by subtracting the Expected Family Contribution - as calculated on the Free Application for Federal Student Aid (FAFSA) from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Kent Devereaux President 391040 0 0 0 1742 0 7375 0 50045 0 450202 0 0 0 Elaine Meyer-Lee Provost 235374 0 0 0 903 0 5625 0 19344 0 261246 0 0 0 Aarika Camp Vice President of Student Affairs 176678 0 0 0 150 0 0 0 10465 0 187293 0 0 0 Michele Y Ewing VP for Advancement 236670 0 0 0 511 0 5875 0 29373 0 272429 0 0 0 Jonathan Lindsay VP for Enrollment Management 212379 0 0 0 1109 0 0 0 19658 0 233146 0 0 0 Erik Thompson VP for Campus Operations 194277 0 0 0 243 0 2775 0 120 0 197415 0 0 0 Schedule J, Part I, Line 1a Schedule J, Part I, Line 1a - A residence and limited personal services are provided for the convenience of the College and as a condition of employment. A housing allowance of $26,000 is included in the President's non-taxable compensation. In addition, the College provides a de minims gross-up payment to senior staff to cover the tax impact of long-term disability insurance. A MD Health and Higher Educational Facilities Authority Series 2012A 520936091 574218KW2 2012-08-30 22315289 Refund Series 2004 Revenue Bonds originally issued Aug. 18, 2004. 0 0 0 B MD Health and Higher Educational Facilities Authority Goucher College Issue Series 2017A 520936091 5742182H5 2017-06-20 60565232 Refund MHHEFA Series 2012B and 2012C bonds, dated 8/2012 0 0 0 C MD Health and Higher Education Authority Goucher Issue 2017B 520936091 2017-06-20 30000000 To finance and refinance the costs of certain capital projects to enhance residential life on campus 0 0 0 A 2170000 0 22315289 1439325 0 0 87289 0 0 0 22228000 0 2012 0 1 1 1 B 1860000 0 60565232 1122416 0 0 1068599 0 0 0 60488631 0 2017 1 0 1 1 C 6274000 0 30000000 0 0 0 0 0 0 30000000 0 0 2019 0 0 1 1 A 0 0 1 1 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 0 0 0 1 C 0 0 1 1 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 1 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 Schedule K, Part IV, Line 2c-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Autho Hilltop Securities prepared the Goucher College MHHEFA Series 2012A rebate calculation as of 7/11/22 and determined no rebate was due. Schedule K, Part IV, Line 2c-06/20/2017 60,565,232 MD Health and Higher Educational Facilities Autho Hilltop Securities prepared Goucher College's MHHEFA Series 2017A rebate calculation as of 10/26/21 and determined no rebate was due. Schedule K, Part IV, Line 2c-06/20/2017 30,000,000 MD Health and Higher Education Authority Hilltop Securities prepared Goucher College's MHHEFA Series 2017B rebate calculation as of 10/26/21 and determined no rebate was due. X 1 0 policy X 38 357463 NYSE X Horse 4 0 policy 5 0 1 0 Schedule M, Part I The number reported in column (b) represents the number of items contributed, except for line 9 - securities, where all securities donated on one day by the same donor were counted as one contribution. Schedule M, Part I, Line 33 Schedule M, Part I, Line 33 - It is the policy of the College to record works of art, books, horses and other non cash gifts received at a book value of zero. Form 990, Part VI, Section B, Line 11b After review by the Audit and Risk Committee, the complete Form 990 and Form 990T were distributed electronically to all members of the Board of Trustees for a period of review and comment lasting 7 days. At the conclusion of the periods of comment and review, a meeting of the Audit and Risk Committee of the Board of Trustees was convened to review and revise (if necessary) the Form 990 and 990T. The Forms were approved for Filing by the Audit and Risk Committee of the Board of Trustees on May 8, 2023. Form 990, Part VI, Section B, Line 12c Every trustee, officer and key employee is provided a copy of the Conflict-of-Interest Policy annually and are required to complete an annual disclosure form reporting any known material financial or other interest of the trustee, officer or key employee or a family member in any transaction or business relationship the College has or is considering, including material financial or other interests in any outside entity involved in such transaction or relationship. The CFO and/or Director of Risk Management & Contracts reviews the disclosure forms and reports any disclosures to the Audit and Risk Committee Committee of the Board of Trustees. Committee members then determine what, if any, action should be taken as to each disclosure and these actions are implemented by the CFO and/or Director of Risk Management & Contracts. The policy directs the committee to review and update the list of the key employees, and the policy itself is reviewed on a regular basis and revised, as necessary. Form 990, Part VI, Section B, Line 15 Goucher College uses the median of relevant national markets to establish salary ranges for positions. The national comparison market was established based on institution type (private, not-for-profit Baccalaureate: Arts & Science Focus institutions in the U.S.), total enrollment (750 - 2,500), total expenses ($50M - $125M), total FTE (300-750), and Degree of Urbanization (excludes rural institutions). After conducting a geographic analysis on cost of labor, the College applied a 5% premium to account for the Baltimore cost of labor difference against the U.S. average for all positions. For staff positions, the median of the market for private, independent colleges using CUPA-HR salary survey data was used, along with two general industry salary surveys, Comp Analyst and Willis Towers Watson. For faculty positions, the median of the market for private, independent colleges using CUPA-HR salary survey data was used based on rank and discipline as defined by the four-digit Classification of Instructional Programs (CIP) code; two-digit codes were used when four-digit data was not available. This compensation philosophy was discussed and agreed to by President's Cabinet. A Presidential performance review form is used by the Board to evaluate the president's performance. A copy of the report is maintained by the Associate Vice President for Human Resources. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and audited financial statements are available to the public upon request. Some policies are also available on the College website. Form 990, Part XI, Line 9 Form 990, Part XI, Line 9 - Changes in fair value of interest rate swap agreement $2,331,705. Pooled Income Fund (2) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (3) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Trust (1) 1021 Dulaney Valley Road Baltmore MD 21204 Annuity FL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Goucher College's extension request was sent to the IRS via USPS to Ogden, UT certified mail/signature receipt 11/15/22. As is IRS custom, a filing is timely if mailed by the due date. The organization has proof that its initial attempt to file its Form 8868 for the Form 990T was, in fact, timely. The extension form arrived in Salt Lake City, UT 11/21/22, but was not delivered to Ogden, UT until 12/22/23. The December delivery was refused and returned to the organization. (USPS tracking notice 70171070000039746875.) The organization attempted to resend the extension in January 2023. The extension was not approved, referencing a late post mark. The IRS' refusal to accept the second mailing of the extension was incorrect. It should have recognized that the first mailing of the Form 8868 for the Form 990T was timlely filed and allowed the initial extension to have been recorded as timely. Please update the organization's account to reflect a timely filed extension.