2023-05-15T17:27:53-05:00 2022-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2021-07-01 060646959 WESLEYAN UNIVERSITY WESL 8606852000 291 MAIN STREET MIDDLETOWN CT 06457 ANDREW TANAKA SR VP, CAO, & TREAS 8606852000 2023-05-15 1 ANDREW TANAKA 999009999 GENEVA FURLANO P01877392 6179881000 2023-05-15 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MICHAEL ROTH 291 MAIN STREET MIDDLETOWN CT 06457 887350000 0 X WWW.WESLEYAN.EDU X 1831 CT SEE DESCRIPTION IN SCHEDULE O. 37 35 3334 815 5538696 305648 74932000 87411000 220249000 264571000 30126000 -55728000 4214000 5158000 329521000 301412000 70076529 79561721 0 0 128870096 143327801 0 0 8852498 95142375 111921478 294089000 334811000 35432000 -33399000 2329320000 2367734000 450221000 555992000 1879099000 1811742000 X WESLEYAN UNIVERSITY IS DEDICATED TO PROVIDING AN EDUCATION IN LIBERAL ARTS BY BUILDING A DIVERSE, ENERGETIC COMMUNITY OF STUDENTS FACULTY, AND STAFF WHO VALUE INDEPENDENCE OF MIND AND GENEROSITY OF SPIRIT. SEE ADDITIONAL DESCRIPTION IN SCHEDULE O. 0 0 205546000 79522000 205987000 INSTRUCTION AND RESEARCHWESLEYAN UNIVERSITY OFFERS MORE THAN 1,000 COURSES IN 45 MAJOR FIELDS OF STUDY, 32 MINOR FIELDS OF STUDY, AND 3 CERTIFICATES OF STUDY, AND AWARDS THE BACHELOR OF ARTS AND GRADUATE DEGREES. THE MASTER OF ARTS DEGREE AND THE DOCTOR OF PHILOSOPHY ARE REGULARLY AWARDED IN SIX FIELDS OF STUDY. IN ADDITION, STUDENTS MAY BE COUNTED UPON TO DEVISE, WITH THE FACULTY, SOME 800 INDIVIDUAL TUTORIALS AND LESSONS.INSTRUCTION AND RESEARCH INCLUDES ALL EXPENDITURES FOR COMPENSATION AND OTHER EXPENSES IN SUPPORT OF INSTRUCTIONAL ACTIVITY.- 801 BACHELOR OF ARTS AND 82 GRADUATE DEGREES WERE AWARDED IN 2021.- THE STUDENT BODY IS MADE UP OF APPROXIMATELY 3,000 STUDENTS FULL-TIME UNDERGRADUATES AND 130 GRADUATE STUDENTS, AS WELL AS AROUND 60 STUDENTS PER YEAR IN THE GRADUATE LIBERAL STUDIES PROGRAM. AN ONGOING FACULTY OF MORE THAN 430 IS JOINED EACH SEMESTER BY A DISTINGUISHED GROUP OF VISITING ARTISTS AND PROFESSORS. TODAY'S STUDENT/INSTRUCTOR RATIO IS 8 TO 1, AND ABOUT TWO THIRDS OF ALL COURSES ENROLL FEWER THAN 20 STUDENTS. 59510000 58584000 AUXILIARY SERVICES AND OTHERAUXILIARY SERVICES INCLUDE THE COSTS OF ROOM AND BOARD FOR APPROXIMATELY 3,000 STUDENTS RESIDING ON A 316 ACRE CAMPUS. THERE ARE 8 RESIDENCE HALLS, 7 APARTMENT COMPLEXES AND OVER 25 PROGRAM HOUSES IN ADDITION TO OVER 140 HOUSE UNITS ON CAMPUS FOR UPPER-CLASS STUDENTS. WORKING IN PARTNERSHIP WITH STUDENTS AND COLLABORATIVELY WITH OTHER MEMBERS OF THE WESLEYAN COMMUNITY, THE OFFICE OF RESIDENTIAL LIFE STRIVES TO PROVIDE A SAFE AND SUPPORTIVE RESIDENTIAL ENVIRONMENT THAT COMPLEMENTS AND EXTENDS STUDENTS' EDUCATIONAL EXPERIENCE. STUDENT-CENTERED PROGRAMS AND SERVICES ARE DEVELOPED AND IMPLEMENTED WITH AN EMPHASIS ON HOLISTIC INDIVIDUAL AND COMMUNITY DEVELOPMENT, STUDENT LEADERSHIP, INDIVIDUAL RESPONSIBILITY, ADVOCACY OF ACADEMIC INQUIRY, AND FREEDOM OF THOUGHT, OPINION AND EXPRESSION IN THE SPIRIT OF MUTUAL RESPECT. THESE ARE THE HALLMARKS OF THE WESLEYAN RESIDENTIAL EXPERIENCE, AND THEY PROVIDE THE ESSENTIAL FOUNDATION FOR A QUALITY LIBERAL ARTS EDUCATION WITHIN A DIVERSE AND DYNAMIC COMMUNITY. 12609000 LIBRARIESLIBRARY EXPENSES INCLUDE ACQUISITION OF BOOKS, PERIODICALS AND OTHER MATERIALS, COMPENSATION OF STAFF, AND OTHER EXPENDITURES IN SUPPORT OF THE LIBRARY. THE MISSION OF THE LIBRARY IS TO PROVIDE THE INFORMATION SERVICES AND RESOURCES REQUIRED TO SUPPORT THE LEARNING, TEACHING, AND RESEARCH OF THE WESLEYAN COMMUNITY.TO CARRY OUT THIS MISSION THE LIBRARY WILL: - ORGANIZE AND PROVIDE INTELLECTUAL AND PHYSICAL ACCESS TO COLLECTIONS AND INFORMATION RESOURCES LOCALLY AND WORLD-WIDE- DEVELOP AND PRESERVE LOCAL COLLECTIONS - TEACH AND GUIDE USERS IN THE LIBRARY RESEARCH PROCESS - PROVIDE AN ATMOSPHERE CONDUCIVE TO STUDY, RESEARCH, AND LEARNING - CONTRIBUTE TO THE LARGER SCHOLARLY WORLDTHE WESLEYAN LIBRARY WILL PROVIDE UNEXCELLED SERVICES. IT IS A DYNAMIC PLACE WHERE LIBRARY STAFF PROVIDE USERS WITH THE INFORMATION THEY NEED, AS WELL AS A KEEN SENSE THAT THERE ARE MANY PATHS, AND A WIDE RANGE OF SKILLS NECESSARY FOR THE EFFECTIVE USE AND EVALUATION OF INFORMATION RESOURCES. 10819433 39721 4441000 STUDENT SERVICES INCLUDES THE COSTS ASSOCIATED WITH ADMINISTERING THE OFFICE OF ADMISSIONS, REGISTRAR, FINANCIAL AID, CAREER PLANNING, HEALTH SERVICES, INSTITUTIONAL RESEARCH AND DEAN'S OFFICE. 10819433 39721 4441000 288484433 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 736 0 1 3334 1 1 1 1 FR IT SP 0 0 0 0 0 0 0 0 1 1 X 37 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X VALERIE NYE 8606853192 237 HIGH STREET MIDDLETOWN CT 06459 MICHAEL S ROTH PRESIDENT AND TRUSTEE 38.00 X X 811961 0 434373 FELICIA APPENTENG TRUSTEE 1.00 X 0 0 0 LEO Y AU TRUSTEE 1.00 X 0 0 0 ESSEL BAILEY JR TRUSTEE 1.00 X 0 0 0 ANDREA GRUBB BARTHWELL TRUSTEE 1.00 X 0 0 0 ADAM BIRD TRUSTEE 1.00 X 0 0 0 PHOEBE C BOYER TRUSTEE 1.00 X 0 0 0 MARC N CASPER TRUSTEE 1.00 X 0 0 0 ERIC DACHS TRUSTEE 1.00 X 0 0 0 NYASHA SHANI FOY TRUSTEE 1.00 X 0 0 0 JOHN B FRANK TRUSTEE 1.00 X 0 0 0 MICHAEL T FRIES TRUSTEE 1.00 X 0 0 0 ANNE S GOLDRACH TRUSTEE 1.00 X 0 0 0 SCOTT GOTTLIEB TRUSTEE 1.00 X 0 0 0 SUSANNAH GRAY TRUSTEE 1.00 X 0 0 0 JOSH GUILD TRUSTEE 1.00 X 0 0 0 SARAH KENDALL TRUSTEE 1.00 X 0 0 0 KATHERINE G KENNEDY TRUSTEE 1.00 X 0 0 0 DEGAN MERCADO LEOPOLD TRUSTEE 1.00 X 0 0 0 PRITHA MITTAL TRUSTEE 1.00 X 0 0 0 CHRISTINE PINA TRUSTEE 1.00 X 0 0 0 ROBERT A PRUZAN TRUSTEE 1.00 X 0 0 0 PHILIP J RAUCH TRUSTEE 1.00 X 0 0 0 JOHN B RHEA TRUSTEE 1.00 X 0 0 0 RASHIDA RICHARDSON TRUSTEE 1.00 X 0 0 0 MICHAEL ROBERTS TRUSTEE 1.00 X 0 0 0 LAURA ROSS TRUSTEE 1.00 X 0 0 0 BOZOMA SAINT JOHN TRUSTEE 1.00 X 0 0 0 JOHN SHAPIRO TRUSTEE 1.00 X 0 0 0 DONALD SPENCER TRUSTEE 1.00 X 0 0 0 JOEL TILLINGHAST TRUSTEE 1.00 X 0 0 0 ADAM USDAN TRUSTEE 1.00 X 0 0 0 ANDREW VOGEL TRUSTEE 1.00 X 0 0 0 ELLEN WEST TRUSTEE 1.00 X 0 0 0 LUKE WOOD TRUSTEE 1.00 X 0 0 0 JOHN YANG TRUSTEE 1.00 X 0 0 0 DONNA S ZILKHA TRUSTEE 1.00 X 0 0 0 DAVID STUART WINAKOR GENERAL COUNSEL/SECRETARY 38.00 X 262575 0 86737 ANDREW TANAKA SVP, CHIEF ADMIN OFF. & TR 38.00 X 313296 0 91166 ANNE MARTIN CHIEF INVESTMENT OFFICER 38.00 X 1028314 0 107784 AMIN ABDUL-MALIK GONZALEZ VP & DEAN OF ADMIN/FIN AID 38.00 X 250049 0 78373 FRANTZ WILLIAMS JR VP FOR ADVANCEMENT 38.00 X 270117 0 54805 RENELL M WYNN VICE PRESIDENT FOR COMMUNICATIONS 38.00 X 246152 0 49741 NICOLE LYNN STANTON PROVOST, SR VP ACADEMIC AF 38.00 X 281664 0 91585 MICHAEL J WHALEY VP FOR STUDENT AFFAIRS 38.00 X 260609 0 65636 DAVE BAIRD VICE PRESIDENT FOR IT/CIO 38.00 X 216731 0 70185 ALISON P WILLIAMS VP EQUITY&INCLUSION/TITLE IX 38.00 X 189759 0 72400 ISHITA MUKERJI CHAIR OF FACULTY 38.00 X 187761 0 111582 JONATHAN DON FARRAR DIRECTOR OF INVESTMENTS 38.00 X 395156 0 80920 MATTHEW MAGENHEIM DIRECTOR, INVESTMENT OFFICE 38.00 X 313842 0 67474 BRETT A SALAFIA DIRECTOR, OPS & INVEST 38.00 X 272685 0 32878 NATHANAEL GREENE PROFESSOR 38.00 X 242782 0 53460 LISA C DIERKER PROFESSOR 38.00 X 225443 0 157878 SEAN MCCANN FMR CHAIR OF FACULTY 38.00 X 173294 0 98718 JANICE R NAEGELE FMR CHAIR OF FACULTY 38.00 X 208040 0 35904 ANDREA L PATALANO FMR CHAIR OF FACULTY 38.00 X 165295 0 42868 6315525 0 1884467 316 1 1 0 COMPASS GROUP USA INC PO BOX 417632 BOSTON MA 022417632 DINING SERVICES 6090747 PAYETTE ASSOC INC 290 CONGRESS STREET 5FL BOSTON MA 022101005 CONSULTANT FEES 4786761 SMG CORPORATE SERVICES PO BOX 53 BRATTLEBORO VT 053020053 CUSTODIAL SERVICES 4509549 CLINICAL RESEARCH SEQUENCING P 415 MAIN STREET CAMBRIDGE MA 02142 COVID TESTING 2307700 FIP CONSTRUCTION INC 1536 NEW BRITAIN AVE FARMINGTON CT 06032 CONSTRUCTION SVCS 2128010 29 3000 16134505 71273495 11006569 87411000 TUITION AND FEES 611710 205987000 205987000 AUXILIARY SERVICES 611710 58584000 58584000 264571000 195000 -454499 649499 2000 2000 528352000 584275000 -55923000 -55923000 5993195 -61916195 7000 3000 7000 0 2371000 1656000 715000 715000 OTHER REVENUE 531390 4441000 4441000 4441000 301412000 269012000 5538696 -60549696 39721 39721 78597705 78597705 924295 924295 5937213 1464743 3656401 816069 952282 952282 101739061 87631039 9769426 4338596 9747000 6841393 2367960 537647 17203953 13744827 2600570 858556 7748292 6087688 1268284 392320 17171981 13339209 2831610 1001162 281686 50995 230691 395473 395473 466 466 4464486 4464486 104245 70320 23035 10890 5572552 5242468 222920 107164 6155126 5238480 623429 293217 3613390 2132976 1401560 78854 7677261 5789030 1755231 133000 4735072 4075342 404868 254862 233916 180416 44535 8965 16601284 16123168 478116 12732088 11961465 770427 196 1049389 1049389 DINING 18884577 18883825 752 FELLOWSHIPS, PRIZES, & 4931807 4910807 21000 FOREIGN PROGRAM 4201773 4201773 MISCELLANEOUS 3114906 3114906 334811000 288484433 37474069 8852498 15801000 58223000 165724000 247967000 28353000 31945000 670000 598486 73514 2675000 2208000 1328000 1075000 2870000 3058000 706162000 299030000 376215000 407132000 938219000 752609000 792089000 857637000 5376000 5208000 2329320000 2367734000 23347000 27543000 4970000 15304000 20105000 55495000 325000000 380520000 76799000 77130000 450221000 555992000 X 602488000 585139000 1276611000 1226603000 1879099000 1811742000 2329320000 2367734000 X -33399000 -24354000 -9604000 X 0 1 X 1 1 1 X 41162724 39299000 56283000 74932000 87411000 299087724 41162724 39299000 56283000 74932000 87411000 299087724 40874974 258212750 3489090 3610842 4223502 215258 649499 12188191 188742 188742 951377 2280102 1869429 1704000 2371000 9175908 320640565 1180656730 0.80530 0.84210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 466 466 0 PART II-B, LINE 1: OTHER LOBBYING ACTIVITIES WESLEYAN UNIVERSITY BELONGS TO THE CONNECTICUT CONSORTIUM OF INDEPENDENT COLLEGES (CCIC), WHICH AT TIMES MAY ENGAGE IN LOBBYING ACTIVITIES. OF THE $26,100 PAID IN DUES TO CCIC, APPROXIMATELY $466, OR 1.79%, WAS USED FOR LOBBYING. X X 2 10.00 2 1 1 8.00 X X X 0 1669796000 33307000 -79952000 11455878 47174122 1564521000 1130907000 10549000 574535000 10984000 35211000 1669796000 1080015000 10782000 85832000 10376000 35346000 1130907000 1065219000 14782000 41295000 9520058 31760942 1080015000 967177000 12311000 124775000 8705207 30338793 1065219000 0.28610 0.26360 0.45030 0 0 37488000 37488000 492163000 196096000 296067000 127876000 102934000 24942000 48635000 48635000 407132000 REAL ASSETS 138467000 F PRIVATE EQUITY 719170000 F 857637000 TERM LOANS 12920000 LIABILITIES RELATED TO INVESTMENTS 16969000 CHARITABLE REMAINDER TRUSTS 10175000 POST-RETIREMENT BENEFITS 17180000 PERKINS LOAN PROGRAM 2635000 ASSET RETIREMENT OBLIGATION 12067000 BOND PREMIUM 5184000 77130000 X 262989514 -24354000 -9604000 -33958000 296947514 4464486 4464486 301412000 330346514 0 330346514 4464486 4464486 334811000 PART II, LINE 9: CONSERVATION EASEMENTS WESLEYAN UNIVERSITY DOES NOT OWN ANY PROPERTY ENCUMBERED BY A CONSERVATION EASEMENT. HOWEVER, THE LONG LANE PARCEL IS CURRENTLY UNDER THE TRANSFER ACT AGREEMENT WITH CT DEP PERTAINING TO REMEDIATED SOIL PILES, EXCAVATIONS AND IMPACTED WETLANDS, WHICH ARE PROTECTED UNDER LOCAL AND STATE REGULATIONS AND HAVE A WRITTEN MANAGEMENT PLAN WHICH PROVIDES A POLICY FOR PROTECTING THE AREAS INCLUDING THE PERIODIC MONITORING, INSPECTION, AND ENFORCEMENT OF THE SITE. REGARDING HISTORIC BUILDINGS, THE CITY OF MIDDLETOWN DESIGN PRESERVATION AND REVIEW BOARD (DRPB) REVIEWS PROPOSED RENOVATIONS TO ALL HISTORIC STRUCTURES IN CERTAIN DISTRICTS, WHICH INCLUDES WESLEYAN'S CAMPUS. THE DRPB THEN MAKES RECOMMENDATIONS TO THE MIDDLETOWN DIRECTOR OF PLANNING FOR SUCH RENOVATIONS. WESLEYAN POLICY REQUIRES OUR CONTRACTED ARCHITECTS, ENGINEERS AND CONTRACTORS TO COMPLY WITH ALL LOCAL, STATE AND FEDERAL REGULATIONS ON EVERY PROJECT. CONTRACTS FOR DESIGN SERVICES IN HISTORIC BUILDINGS REQUIRE THAT THE ARCHITECT AND WESLEYAN SUBMIT PROPOSED RENOVATION PLANS TO THE CITY OF MIDDLETOWN AND THE DRPB AS REQUIRED BY ZONING LAW. PART III, LINE 4: ORGANIZATIONS COLLECTIONS OF ARTS THE UNIVERSITY MAINTAINS WORKS OF ART IN THE DAVISON ART CENTER (DAC), OLIN LIBRARY, SCIENCE LIBRARY AND ARCHIVES. WESLEYAN STUDENTS IN MANY DEPARTMENTS USE THE DAC COLLECTION FOR CLASS ASSIGNMENTS OR VIEWINGS, AS WELL AS FOR INDIVIDUAL RESEARCH PROJECTS WITH UNIVERSITY FACULTY, AND THE MUSEUM ALSO ENCOURAGES TEACHING AND LEARNING FROM OBJECTS IN A WIDE RANGE OF OTHER WAYS. THE LIBRARY MAINTAINS SPECIAL COLLECTIONS AND ARCHIVES, WHICH INCLUDES AROUND 25,000 RARE BOOKS AND COLLECTIONS THAT SERVE TO STIMULATE UNDERGRADUATE MINDS ABOUT THE PAST, OFFER LABORATORY MATERIALS IN THE HUMANITIES, AND PROVIDE SOME PREPARATION FOR ADVANCED SCHOLARSHIP. PART V, LINE 4: ENDOWMENT FUNDS THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 1,300 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE UNIVERSITY FOLLOWS A SPENDING POLICY KNOWN AS THE TOBIN SPENDING RULE, NAMED FOR JAMES TOBIN, RECIPIENT OF THE 1971 NOBEL PRIZE IN ECONOMICS. THIS RULE SETS THE ANNUAL DISTRIBUTION USING A QUANTITATIVE FORMULA THAT COMBINES ELEMENTS OF STABILITY AND MARKET CONDITIONS. THE UNIVERSITY'S ENDOWMENT SPENDING IS 70% BASED ON THE PRIOR YEAR'S SPENDING PLUS INFLATION (MEASURED BY THE HIGHER EDUCATION PRICE INDEX (HEPI) AS OF JUNE 30 OF THE PAST FISCAL YEAR) AND 30% FROM 4.5% OF THE MARKET VALUE OF ENDOWMENT AS OF JUNE 30 OF THE PREVIOUS FISCAL YEAR. ABOUT 92% OF THE PERMANENTLY RESTRICTED NET ASSETS CONSIST OF THOSE FOR WHICH INCOME IS RESTRICTED TO FINANCIAL AID, INSTRUCTION AND RESEARCH. WESLEYAN UNIVERSITY HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, ITS FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS OR NET ASSETS WITH DONOR RESTRICTIONS. HOWEVER, FOR THE PURPOSES OF PART V, LINE 2, WESLEYAN UNIVERSITY CONTINUES TO REPORT ITS ENDOWMENT COMPOSITION USING THE THREE CATEGORIES PROVIDED: BOARD DESIGNATED, PERMANENT ENDOWMENT, AND TERM ENDOWMENT. PART X, LINE 2: UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) THE UNIVERSITY IS GENERALLY EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(A), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE UNIVERSITY ASSESSES UNCERTAIN TAX POSITIONS AND DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN VALUE OF SPLIT-INTEREST AGREEMENT -13,150,000. POSTRETIREMENT BENEFIT OBLIGATION CHANGES 3,546,000. 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 NONDISCRIMINATORY POLICY IS PROMINENTLY DISPLAYED ON ADVERTISEMENT FOR EMPLOYMENT THAT APPEAR IN NEWSPAPERS AND THE INTERNET. IT ALSO APPEARS IN ADMISSIONS CATALOGUES, EMPLOYMENT APPLICATIONS AND EMPLOYEE AND FACULTY HANDBOOKS. IN ADDITION TO THE OTHER FORMS OF PUBLICATION, THE UNIVERSITY MAKES ITS RACIALLY NONDISCRIMINATORY POLICY AVAILABLE YEAR-ROUND ON ITS HOMEPAGE (WWW.WESLEYAN.EDU). SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES AWARDS FROM THE DEPARTMENT OF EDUCATION TO BE USED FOR STUDENT FINANCIAL ASSISTANCE. IT ALSO RECEIVES VARIOUS RESEARCH AND DEVELOPMENT GRANTS PRIMARILY FROM THE NATIONAL SCIENCE FOUNDATION AND DEPARTMENT OF HEALTH AND HUMAN SERVICES. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 10453 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 43254 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 1798832 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 523 NORTH AMERICA 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 5077 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 7049 SOUTH AMERICA 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 521 SOUTH ASIA 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 1891 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STDY ABR/RSRCH/RCRT 6084 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES INVESTMENTS 452401324 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INVESTMENTS 34101002 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INVESTMENTS 9423980 0 0 0 0 0 0 1867600 495932390 497799990 STUDY ABROAD/FIN AID CENTRAL AMERICA AND THE CARIBBEAN 1 6051 STUDY ABROAD/FIN AID EAST ASIA AND THE PACIFIC 1 36203 STUDY ABROAD/FIN AID EUROPE (INCLUDING ICELAND & GREENLAND) 30 874992 STUDY ABROAD/FIN AID RUSSIA AND NEIGHBORING STATES 1 7049 1 0 1 1 1 1 PART I, LINE 2: MONITORING THE USE OF GRANT FUNDS STUDENTS ATTEND APPROVED STUDY ABROAD PROGRAMS AND RECEIVE WESLEYAN CREDIT. PROGRAMS ARE APPROVED BASED ON A REVIEW BY A FACULTY COMMITTEE. ONCE THE PROGRAM IS APPROVED, THE OFFICE OF INTERNATIONAL STUDIES, IN CONJUNCTION WITH THE FINANCE OFFICE, FACILITATES PAYMENT AND FINANCIAL AID TO THE HOST SCHOOL. AFTER A STUDENT COMPLETES THE PROGRAM, THEY FILL OUT AN EVALUATION OF THE PROGRAM AND AN OFFICIAL TRANSCRIPT IS PRESENTED TO THE UNIVERSITY FROM THE PROGRAM. PART III ACCOUNTING METHOD: PART III, COLUMN E STUDY ABROAD GRANTS FINANCIAL AID IS DETERMINED BASED ON A NEEDS ANALYSIS AND APPLIED TO STUDENT CHARGES THAT SUPPORT THE COST OF ATTENDANCE. STUDENT CHARGES ARE USED IN SUPPORTING THE UNIVERSITY'S MISSION. WESLEYAN ALTERNATES RUNNING FOREIGN PROGRAMS WITH VASSAR COLLEGE AND WELLESLEY COLLEGE IN SPAIN, ITALY, AND FRANCE. WHILE THESE PROGRAMS WERE NOT RUNNING DURING FISCAL 2022, EXPENSES FOR MAINTAINING THE PROGRAM IN FRANCE WERE INCURRED. 1 CITY OF MIDDLETOWN 245 DEKOVEN DRIVE MIDDLETOWN CT 06457 066001872 170(B)(1)(A)(V) 39721 0 UNRESTRICTED 1 SEOG 285 846500 CT STATE GRANTS 10 97000 TUITION REMISSION 126 5221000 UNIVERSITY SCHOLARSHIP 1299 69497205 HIGHER ED EMERGENCY RELIEF FUND 1275 2936000 PART I, LINE 2: MONITORING THE USE OF GRANT FUNDS GRANTS TO ORGANIZATIONS IN THE U.S. THE UNIVERSITY MAY MAKE DONATIONS TO SUPPORT ITS TOWN OR NON-PROFIT ORGANIZATIONS. IN THESE INSTANCES, THE UNIVERSITY GENERALLY DOES NOT MONITOR THE ULTIMATE USE OF THE FUNDS AS THESE AMOUNTS ARE UNRESTRICTED GRANTS TO MUNICIPALITIES OR ORGANIZATIONS THAT ARE RECOGNIZED AS BEING DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C). GRANTS TO INDIVIDUALS IN THE U.S. FINANCIAL AID IS DETERMINED BASED ON A NEEDS ANALYSIS AND APPLIED TO STUDENT CHARGES THAT SUPPORT COST OF ATTENDANCE. STUDENT CHARGES ARE USED IN SUPPORT OF THE UNIVERSITY'S MISSION. PART III HIGHER EDUCATION EMERGENCY RELIEF FUND FEDERAL STIMULUS PACKAGES CREATED BY THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES), CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRRSAA) AND THE AMERICAN RESCUE PLAN (ARP) PROVIDED FUNDING TO SUPPORT HIGHER EDUCATION INSTITUTIONS AND THE STUDENTS THEY SERVE THROUGH THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF). FOR THE YEARS ENDED JUNE 30, 2022 AND 2021, WESLEYAN RECOGNIZED $5,872,000 AND $4,260,000 OF HEERF REVENUE AND MADE GRANTS TO STUDENTS TOTALING $2,936,000 AND $1,632,716. X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 MICHAEL S ROTH PRESIDENT AND TRUSTEE 572579 0 210000 0 29382 0 312586 0 121787 0 1246334 0 0 0 ANNE MARTIN CHIEF INVESTMENT OFFICER 470307 0 557802 0 205 0 39300 0 68484 0 1136098 0 0 0 JONATHAN DON FARRAR DIRECTOR OF INVESTMENTS 219403 0 175723 0 30 0 21218 0 59702 0 476076 0 0 0 ANDREW TANAKA SVP, CHIEF ADMIN OFF. & TR 288296 0 25000 0 0 0 45686 0 45480 0 404462 0 0 0 LISA C DIERKER PROFESSOR 222338 0 3000 0 105 0 40208 0 117670 0 383321 0 0 0 MATTHEW MAGENHEIM DIRECTOR, INVESTMENT OFFICE 204360 0 109482 0 0 0 19010 0 48464 0 381316 0 0 0 NICOLE LYNN STANTON PROVOST, SR VP ACADEMIC AF 281664 0 0 0 0 0 26513 0 65072 0 373249 0 0 0 DAVID STUART WINAKOR GENERAL COUNSEL/SECRETARY 259275 0 3000 0 300 0 28646 0 58091 0 349312 0 0 0 AMIN ABDUL-MALIK GONZALEZ VP & DEAN OF ADMIN/FIN AID 198569 0 3000 0 48480 0 18692 0 59681 0 328422 0 0 0 MICHAEL J WHALEY VP FOR STUDENT AFFAIRS 237344 0 23000 0 265 0 21930 0 43706 0 326245 0 0 0 FRANTZ WILLIAMS JR VP FOR ADVANCEMENT 267117 0 3000 0 0 0 24920 0 29885 0 324922 0 0 0 BRETT A SALAFIA DIRECTOR, OPS & INVEST 167317 0 105133 0 235 0 14617 0 18261 0 305563 0 0 0 ISHITA MUKERJI CHAIR OF FACULTY 184761 0 3000 0 0 0 30326 0 81256 0 299343 0 0 0 NATHANAEL GREENE PROFESSOR 239782 0 3000 0 0 0 22352 0 31108 0 296242 0 0 0 RENELL M WYNN VICE PRESIDENT FOR COMMUNICATIONS 243152 0 3000 0 0 0 22753 0 26988 0 295893 0 0 0 DAVE BAIRD VICE PRESIDENT FOR IT/CIO 213731 0 3000 0 0 0 39125 0 31060 0 286916 0 0 0 SEAN MCCANN FMR CHAIR OF FACULTY 170294 0 3000 0 0 0 15910 0 82808 0 272012 0 0 0 ALISON P WILLIAMS VP EQUITY&INCLUSION/TITLE IX 186759 0 3000 0 0 0 17373 0 55027 0 262159 0 0 0 JANICE R NAEGELE FMR CHAIR OF FACULTY 205040 0 3000 0 0 0 18431 0 17473 0 243944 0 0 0 ANDREA L PATALANO FMR CHAIR OF FACULTY 162295 0 3000 0 0 0 14484 0 28384 0 208163 0 0 0 PART I, LINE 1A BENEFITS UNDER THE UNIVERSITY'S TRAVEL POLICY, EMPLOYEES MAY TRAVEL IN COACH CLASS ONLY. IN CIRCUMSTANCES WHERE SCHEDULING OR A MEDICAL CONDITION NECESSITATES OTHER ARRANGEMENTS, BUSINESS CLASS TRAVEL IS AUTHORIZED. ON INFREQUENT OCCASIONS WHERE BUSINESS CLASS OPTIONS HAVE NOT BEEN AVAILABLE, THE PRESIDENT HAS TRAVELLED FIRST CLASS WITH THE SPECIFIC APPROVAL OF THE FINANCE OFFICE. THE PRESIDENT AND VICE PRESIDENT FOR STUDENT AFFAIRS MUST LIVE ON CAMPUS AS A REQUIREMENT OF THEIR EMPLOYMENT AND THE FAIR MARKET VALUE OF THE HOUSING HAS BEEN INCLUDED AS A NON-TAXABLE FRINGE BENEFIT ON SCHEDULE J. PART I, LINE 7 NON-FIXED BONUSES 50% OF INVESTMENT OFFICE BONUSES ARE BASED ON QUANTITATIVE METRICS AND 50% ARE BASED ON A QUALITATIVE ASSESSMENT OF STAFF PERFORMANCE BY THE CIO AND BOARD OF TRUSTEES. THE PRESIDENT HAS AN INCENTIVE BONUS BASED ON FUNDRAISING TARGETS SET BY THE BOARD OF TRUSTEES EVERY YEAR. PART II, COLUMN D HOUSING ALLOWANCES THE FAIR MARKET VALUE OF HOUSING PROVIDED TO THE FOLLOWING INDIVIDUALS, AS A REQUIREMENT OF THEIR EMPLOYMENT, THAT IS REPORTED IN THEIR NONTAXABLE BENEFITS IS AS FOLLOWS: PRESIDENT: $55,046 VICE PRESIDENT FOR STUDENT AFFAIRS: $11,875 A CHEFA 2010 SERIES H 060806186 20774U3A1 2010-05-18 20105000 REFUND 2005 BOND ISSUE 0 0 0 B CHEFA 2021 SERIES I 060806186 20775DMT6 2021-07-22 45336006 FINANCE CAPITAL EXPENDITURE 0 0 0 A 20105000 105000 20000000 2008 1 0 1 1 B 45336006 336006 4587366 40412634 0 0 1 1 A 0 0 1 1 0 0.00040 0.00040 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 PART I, CHEFA 2010 SERIES G DEFEASEMENT OF SERIES G ON MAY 31, 2016, THE UNIVERSITY ISSUED $250 MILLION OF CENTURY BONDS AT AN INTEREST RATE OF 4.781%. THE UNIVERSITY USED $203 MILLION TO CREATE A "REFUNDING TRUST", WITH BANK OF NEW YORK MELLON AS A TRUSTEE, TO LEGALLY DEFEASE ALL OF WESLEYAN'S OUTSTANDING TAX-EXEMPT SERIES G BONDS REDEEMABLE ON JULY 1, 2020. PART III, LINE 4 CERTAIN UNRELATED BUSINESS ACTIVITIES ARE CARRIED ON IN THE TAX-EXEMPT BOND-FINANCED PROPERTIES, GIVING RISE TO PRIVATE BENEFIT USE. HOWEVER, THESE UNRELATED BUSINESS ACTIVITIES HAVE CONSISTENTLY GENERATED LOSSES AND ARE NOT REPORTED ON THE UNIVERSITY'S FORM 990-T. PART IV, LINE 2A NO REBATE CALCULATION WAS COMPLETED SINCE THE 2010 BOND ISSUE WAS STRICTLY A REFUNDING OF PRIOR BOND ISSUES AND THERE WERE NO CONSTRUCTION FUND OR ADDITIONAL PROCEEDS EXPENDED. ISHITA MUKERJI KEY EMPLOYEE MORTGAGE X 147000 73514 0 1 1 73514 ANNE GREENE FAMILY OF J FRANK-TRUSTEE 247916 EMPLOYEE COMPENSATION 0 NATHANAEL GREENE FAMILY OF J FRANK-TRUSTEE 298080 EMPLOYEE COMPENSATION 0 KARI WEIL SPOUSE OF M ROTH-OFFICER 161791 EMPLOYEE COMPENSATION 0 FRANCESCA BAIRD SPOUSE OF D BAIRD-KEY 118796 EMPLOYEE COMPENSATION 0 CHRISTIAN LANSER SPOUSE OF I MUKERJI-KEY 125699 EMPLOYEE COMPENSATION 0 X 212 11006558 FMV X OTHER 2 11 FMV 1 0 1 0 PART I, COLUMN (B): THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART I, LINE 1 & PART III, LINE 1 ORGANIZATION'S MISSION I. WESLEYAN UNIVERSITY IS DEDICATED TO PROVIDING AN EDUCATION IN THE LIBERAL ARTS THAT IS CHARACTERIZED BY BOLDNESS, RIGOR, AND PRACTICAL IDEALISM. AT WESLEYAN, DISTINGUISHED SCHOLAR-TEACHERS WORK CLOSELY WITH STUDENTS, TAKING ADVANTAGE OF FLUIDITY AMONG DISCIPLINES TO EXPLORE THE WORLD WITH A VARIETY OF TOOLS. THE UNIVERSITY SEEKS TO BUILD A DIVERSE, ENERGETIC COMMUNITY OF STUDENTS, FACULTY, AND STAFF WHO THINK CRITICALLY AND CREATIVELY AND WHO VALUE INDEPENDENCE OF MIND AND GENEROSITY OF SPIRIT. II. VALUES AND CULTURE *AS A LEARNING COMMUNITY* WESLEYAN EDUCATES STUDENTS TO BECOME INDEPENDENT THINKERS CAPABLE OF CONTINUING TO LEARN AND ABLE TO TRANSLATE INTELLECTUAL RIGOR INTO REAL-WORLD ACTION. AT WESLEYAN, STUDENTS ARE DRIVEN TO MAKE KNOWLEDGE MORE AVAILABLE AND MORE MEANINGFUL, TO PUSH INSIGHTS ACROSS BORDERS INTO NEW DOMAINS, AND TO ENGAGE WITH NEW OR NEGLECTED AUDIENCES. THEY DISCOVER WHAT THEY LOVE TO DO AND GET BETTER AT IT - WHILE CONSTANTLY BEING CHALLENGED TO MAKE WHAT THEY LEARN RELEVANT TO OTHERS. WESLEYAN CREATES AN ENVIRONMENT IN WHICH STUDENTS CAN STRIVE FOR EXCELLENCE THROUGH HARD WORK THAT IS JOYFUL AND SATISFYING. ALUMNI OF THE INSTITUTION CONTINUE TO DRAW ON THEIR LEARNING EXPERIENCES FOR THE REST OF THEIR LIVES AND REMAIN DEVOTED TO THE INSTITUTION. *AS A CENTER FOR CREATIVE PRACTICE* WESLEYAN ATTRACTS FACULTY AND STUDENTS WHO FIND ENORMOUS VALUE IN INDEPENDENT RESEARCH, SCHOLARSHIP, AND CREATIVE PRACTICE. PROFESSORS EMBRACE THEIR ROLE AS SCHOLARS-TEACHERS AND ARE ENERGIZED BY THEIR STUDENTS' DEEP INQUISITIVENESS, UNGUARDED CURIOSITY, AND EAGERNESS TO EXPLORE BEYOND THE SYLLABUS. THE UNIVERSITY'S SMALL GRADUATE PROGRAMS IN THE SCIENCES AND MUSIC FACILITATE COLLABORATIVE RESEARCH. UNDERGRADUATES ARE GIVEN OPPORTUNITIES FOR ADVANCED INDEPENDENT WORK THROUGH WHICH THEY INCREASE THEIR INTELLECTUAL CAPACITIES AND DISCOVER ASPECTS OF THEMSELVES AND THE WORLD THAT WILL REMAIN MEANINGFUL TO THEM LONG AFTER GRADUATION. MEMBERS OF THE WESLEYAN COMMUNITY ADDRESS SCHOLARLY ISSUES OF IMPORTANCE TO THEIR RESPECTIVE FIELDS AND REGULARLY PRODUCE WORK THAT GOES BEYOND ACADEMIC REALMS TO HAVE A POSITIVE IMPACT ON PUBLIC LIFE. *AS AN INSTITUTIONAL CITIZEN AND LEADER IN EDUCATION* WESLEYAN INSPIRES FACULTY, STAFF AND STUDENTS TO PLAY ACTIVE ROLES AS NEIGHBORS AND CITIZENS. THE UNIVERSITY CONTRIBUTES ECONOMICALLY AND CULTURALLY TO MIDDLETOWN, AND IT INSTILLS IN ITS GRADUATES A SENSE OF CIVIC POSSIBILITY AND PURPOSE. WESLEYAN ALUMNI CREATE OPPORTUNITIES TO INTEGRATE SERVICE INTO THEIR PROFESSIONAL AND PERSONAL LIVES AND GENEROUSLY SUPPORT THE EDUCATIONAL ENTERPRISE ON CAMPUS. THE UNIVERSITY SUPPORTS THE CONTINUED EVOLUTION OF A LIBERAL ARTS EDUCATION AND MAKES A CASE FOR ITS IMPORTANCE IN THE PUBLIC SPHERE. MEMBERS OF THE WESLEYAN COMMUNITY REGULARLY GO ON TO DISTINGUISHED CAREERS IN PUBLIC SERVICE, AND THE UNIVERSITY PROVIDES SUPPORT FOR DISSEMINATING SCHOLARSHIP THAT CAN HAVE POSITIVE PUBLIC IMPACT. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE UNIVERSITY'S FISCAL YEAR END IS JUNE 30. THE AUDITED FINANCIAL STATEMENTS ARE FINALIZED IN LATE OCTOBER DUE TO THE TIME IT TAKES TO VALUE ENDOWMENT ASSETS. DURING NOVEMBER AND DECEMBER, A TAX COMMITTEE CONSISTING OF UNIVERSITY GENERAL COUNSEL, ASSOCIATE VP FOR FINANCE, AND CONTROLLER MEET TO DISCUSS ANY SIGNIFICANT CHANGES IN POLICIES, GOVERNANCE, MANAGEMENT AND OTHER ACTIVITY. IN ADDITION, THE FINANCE OFFICE REACHES OUT TO OTHER DEPARTMENTS SUCH AS ACADEMIC AFFAIRS, UNIVERSITY RELATIONS, AND ADMISSIONS TO DETERMINE POTENTIAL FILING ACTIVITY. DURING JANUARY AND FEBRUARY THE CONTROLLER'S OFFICE WORKS WITH THE EXTERNAL AUDITORS TO COMPLETE A DRAFT DOCUMENT FOR THE ANNUAL AUDIT COMMITTEE MEETING. THE DOCUMENT IS PROVIDED TO EACH MEMBER OF THE AUDIT COMMITTEE AND DISCUSSED DURING THE MEETING. THE CHAIR OF THE AUDIT COMMITTEE WILL SUMMARIZE THE REVIEW TO THE FULL BOARD OF TRUSTEES AT THE NEXT MEETING. THE FINAL RETURN IS FILED IN MAY WITH A COPY OF THE FINAL RETURN MADE AVAILABLE THROUGH THE TRUSTEE SECURE PORTAL A COUPLE OF WEEKS PRIOR TO THE FINAL FILING TO EACH VOTING MEMBER OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE UNIVERSITY POSTS ITS CONFLICT OF INTEREST POLICY ON ITS WEBSITE AND REQUIRES QUESTIONNAIRE COMPLETION FROM UNIVERSITY FACULTY, STAFF AND TRUSTEES ON AN ANNUAL BASIS. FACULTY AND STAFF ARE COLLECTED ELECTRONICALLY THROUGH NETWORK SIGN ON. CONFLICT OF INTEREST QUESTIONNAIRES FROM BOARD MEMBERS ARE COLLECTED BY THE SECRETARY OF THE UNIVERSITY AND REVIEWED BY LEGAL COUNSEL. RESPONSES ARE MONITORED BY THE UNIVERSITY GENERAL COUNSEL IN CONJUNCTION WITH THE PRESIDENT'S OFFICE. ANY SUPERVISOR RECEIVING NOTICE OF A POTENTIAL CONFLICT OF INTEREST SHALL DETERMINE WHETHER THE SITUATION PRESENTS A POTENTIAL CONFLICT OF INTEREST UNDER THIS POLICY AND DOCUMENT THEIR DETERMINATION IN WRITING. UNLESS THE SUPERVISOR IS ABLE TO CLEARLY DETERMINE THAT NO SUCH CONFLICT EXISTS OR IN THE CASE THAT THE INDIVIDUAL DISAGREES WITH THE SUPERVISOR'S DECISIONS, THE SUPERVISOR SHALL REQUIRE THE INDIVIDUAL TO DISCLOSE THE SITUATION IN WRITING AND THE SUPERVISOR AND/OR INDIVIDUAL SHALL FORWARD THAT DESCRIPTION TO AN APPROPRIATE VICE PRESIDENT OR SENIOR OFFICER OF THE UNIVERSITY. THE SUPERVISOR SHALL NOT PERMIT ANY INDIVIDUAL TO PARTICIPATE IN THE QUESTIONABLE ACTIVITY UNLESS AND UNTIL A VICE PRESIDENT OR SENIOR OFFICER OF THE UNIVERSITY HAS REVIEWED THE ACTIVITY AND CONFIRMED IN WRITING THAT THE ACTIVITY MAY CONTINUE AND/OR THAT THERE ARE RELEVANT SAFEGUARDS IN PLACE TO PROTECT THE UNIVERSITY. ANY INDIVIDUAL WHO DISAGREES WITH A CONFLICT-RELATED DECISION OF ANY VICE PRESIDENT OR SENIOR OFFICER MAY SEEK REVIEW BY THE PRESIDENT OF THE UNIVERSITY WHOSE DECISION SHALL BE FINAL. ON AN ANNUAL BASIS THE UNIVERSITY DISTRIBUTES AND REQUIRES INDIVIDUALS TO COMPLETE A STATEMENT A) CONFIRMING THAT THEY HAVE READ AND UNDERSTOOD THE CONFLICT OF INTEREST POLICY AND B) THAT THEY HAVE NO KNOWLEDGE OF ANY CONFLICT OF INTEREST EXCEPT FOR THOSE APPROPRIATELY DISCLOSED UNDER THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY WESLEYAN UNIVERSITY'S SALARY ADMINISTRATION IS DESIGNED TO ACCOMPLISH THREE MAJOR OBJECTIVES: - ATTRACT AND RETAIN HIGHLY QUALIFIED STAFF MEMBERS; - LINK COMPENSATION TO PERFORMANCE; AND - PROMOTE CONSISTENCY AND AN INTERNALLY EQUITABLE RELATIONSHIP BETWEEN SALARY AND RESPONSIBILITY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, COMPOSED OF THREE MEMBERS AND CHAIRED BY THE CHAIR OF THE BOARD OF TRUSTEES, IS RESPONSIBLE FOR EVALUATING THE COMPENSATION REASONABLENESS FOR ALL OFFICERS AND KEY EMPLOYEES AS DETERMINED FROM TIME TO TIME. THE COMMITTEE REVIEWS THE PERFORMANCE APPRAISAL OF THE PRESIDENT BY THE BOARD, DETERMINES THE COMPENSATION OF THE PRESIDENT, AND SETS GOALS AND PERFORMANCE MEASURES FOR THE FOLLOWING YEAR. THE COMMITTEE BEGINS DISCUSSION IN THE SECOND HALF OF THE ACADEMIC YEAR. WESLEYAN PARTICIPATES IN AN ANNUAL SURVEY OF ITS PEERS CONDUCTED BY A PRIVATE CONSULTANT. THIS PROCESS ENSURES THAT THE UNIVERSITY REMAINS CONSISTENT WITH THE REGULATORY AND LEGAL REQUIREMENTS OF COMPENSATION IN A 501(C)(3) NON-PROFIT ORGANIZATION. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE PRESIDENT MEETS THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD. THE COMPENSATION ARRANGMENT IS APPROVED IN ADVANCE BY THE ORGANIZATION'S COMPENSATION COMMITTEE. THE COMMITTEE IS APPOINTED BY THE BOARD OF TRUSTEES FOR THE PURPOSE OF ASSISTING THE BOARD TO FULFILL ITS RESPONSIBILITY TO THE ORGANIZATION AND THE COMMUNITY TO ENSURE THE COMPENSATION IS IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES. PRIOR TO MAKING ANY COMPENSATION DECISIONS, THE COMPENSATION COMMITTEE OBTAINS AND RELIES UPON APPROPRIATE DATA AS TO COMPARABILITY. THE COMMITTEE UTILIZES LOCAL AND NATIONAL COMPENSATION SURVEYS TO SET COMPENSATION LEVELS. FINALLY, THE EXECUTIVE COMPENSATION COMMITTEE ADEQUATELY AND TIMELY DOCUMENTS THE BASIS FOR SETTING COMPENSATION CONCURRENTLY WITH THE MAKING OF THE DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE THE UNIVERSITY POSTS ITS GOVERNING DOCUMENTS ON ITS WEBSITE AT WWW.WESLEYAN.EDU/GENERALCOUNSEL. IN ADDITION, THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS ARE ON ITS WEBSITE AT WWW.WESLEYAN.EDU/FINANCE. THE UNIVERSITY'S FORM 990 IS POSTED ON WWW.GUIDESTAR.ORG. THE FORM 990, AUDITED FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -13,150,000. POSTRETIREMENT BENEFIT OBLIGATION CHANGES 3,546,000. CHARITABLE REMAINDER TRUST (1) 237 HIGH STREET MIDDLETOWN CT 06459 INVESTING CT N/A T 1 CHARITABLE REMAINDER UNITRUST - CT (18) 237 HIGH STREET MIDDLETOWN CT 06459 INVESTING CT N/A T 1 CHARITABLE REMAINDER UNITRUST - CA (1) 237 HIGH STREET MIDDLETOWN CT 06459 INVESTING CA N/A T 1 LIFE INCOME AGREEMENTS (1) 237 HIGH STREET MIDDLETOWN CT 06459 INVESTING CT N/A T 1 POOLED INCOME FUND (2) 237 HIGH STREET MIDDLETOWN CT 06459 INVESTING CT N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1