2025-05-14T14:48:49-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2023-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 GRAPEVINE ROAD WENHAM MA 01984 JEFF EUBANK INTERIM VP FOR FINANCE & CFO 9788674883 2025-05-14 1 1 ERIN COUTURE P01390592 6177237900 2023 2025-03-06 01:10:19Z MICHAEL D HAMMOND 255 GRAPEVINE ROAD WENHAM MA 01984 94116581 0 X WWW.GORDON.EDU X 1889 MA GORDON COLLEGE STRIVES TO GRADUATE MEN & WOMEN DISTINGUISHED BY (CONTINUED ON SCHEDULE O) (CONTINUATION) INTELLECTUAL MATURITY AND CHRISTIAN CHARACTER, COMMITTED TO LIVES OF SERVICE AND PREPARED FOR LEADERSHIP WORLDWIDE. 22 21 1635 22 0 0 13845083 12566237 55608078 56896658 -6321458 6564170 -365030 16385 62766673 76043450 15874631 16869757 0 0 33056220 33799331 0 0 4364752 25235278 27909854 74166129 78578942 -11399456 -2535492 182425243 187919534 31160767 30404411 151264476 157515123 X SEE SCHEDULE O 0 0 47356571 16818574 35557319 HIGHER EDUCATION: OUR LARGEST PROGRAM SERVICE IS PROVIDING EDUCATION AND INSTRUCTION TO INDIVIDUALS GIVING THEM AN OPPORTUNITY TO EARN A DEGREE. GORDON COLLEGE IS THE ONLY NONDENOMINATIONAL CHRISTIAN LIBERAL ARTS COLLEGE IN NEW ENGLAND. IT OFFERS 35 MAJORS AND CONFERS 3 SEPARATE UNDERGRADUATE DEGREES; BACHELOR OF ARTS, BACHELOR OF SCIENCE AND BACHELOR OF MUSIC. UNDERGRADUATE ENROLLMENT OF 1,293 STUDENTS (DEGREE SEEKING AND NON-DEGREE SEEKING) IS DRAWN FROM 42 STATES AND 28 COUNTRIES. IN 2023-2024, GORDON COLLEGE ISSUED 305 UNDERGRADUATE DEGREES (WITH A SIX-YEAR GRADUATION RATE OF 68%). GORDON HAD A FACULTY TO STUDENT RATIO OF 11 TO 1 WITH 62% OF THE STUDENTS FROM OUTSIDE MASSACHUSETTS. OF THE 81 FULL-TIME FACULTY, 89% HAVE EARNED A DOCTORATE OR OTHER TERMINAL DEGREE. (CONTINUED ON SCHEDULE O)GORDON COLLEGE STUDENTS CAN TAKE ADVANTAGE OF A WIDE VARIETY OF OFF-CAMPUS PROGRAMS, BOTH DOMESTIC AND ABROAD. DURING 2023-24, 85 STUDENTS PARTICIPATED IN OFF-CAMPUS PROGRAMS AND SHORT-TERM INTERNATIONAL SEMINARS.PART V, LINE 2A: EMPLOYEE BREAKOUT:STAFF - 785STUDENT - 850TOTAL 1,635 16890587 0 17454982 AUXILIARY PROGRAMS RELATED TO THE EDUCATIONAL PROCESS FOR DORMITORY HOUSING, FOOD SERVICE, BOOKSTORE, LAVIDA OUTDOOR EXPERIENCE, BALANCE AND MOBILITY CENTER, SUMMER ATHLETIC CAMPS AND OTHER SUMMER PROGRAMS. THERE WERE 1109 RESIDENT STUDENTS IN THE FALL SEMESTER 2023 AND 1038 IN THE SPRING SEMESTER 2024. 1625765 51183 3884357 HIGHER EDUCATION: GORDON COLLEGE HAS GRADUATE PROGRAMS IN EDUCATION, MUSIC EDUCATION, LEADERSHIP, AND FINANCIAL ANALYSIS CONFERRING DEGREES IN MASTERS OF EDUCATION, MASTERS OF MUSIC EDUCATION, MASTER OF ARTS IN LEADERSHIP, AND MASTER OF SCIENCE IN FINANCIAL ANALYSIS. IN 2023-24, THE TOTAL OF UNDUPLICATED GRADUATE STUDENTS WAS 317 DRAWN FROM 31 STATES AND 13 COUNTRIES. GORDON COLLEGE CONFERRED 89 MASTERS' DEGREES IN 2023-24. 65872923 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 0 0 0 1 301 0 1 1635 1 0 1 IT 0 0 0 0 0 0 0 0 0 0 X 22 21 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X JEFF EUBANK 9788674883 255 GRAPEVINE WENHAM MA 01984 DR CARRIE TIBBLES CHAIRMAN OF THE BOARD 5.00 0.50 X X 0 0 0 LISA FORKNER TRUSTEE / VC AND CLERK (AS OF 10/23) 5.00 0.50 X X 0 0 0 SANTIAGO SEDACA TRUSTEE / VICE CHAIR (AS OF 10/23) 5.00 0.50 X X 0 0 0 JOHN SARGENT TRUSTEE / TREASURER (AS OF 10/23) 5.00 0.50 X X 0 0 0 SAMUEL ACEVEDO TRUSTEE 1.00 0.00 X 0 0 0 DR WILLIAM BROWN TRUSTEE 1.00 0.50 X 0 0 0 FRANCIS BROWN II TRUSTEE 1.00 0.00 X 0 0 0 DR DOROTHY CHAPPELL TRUSTEE 1.00 0.50 X 0 0 0 FOSTER CHASE TRUSTEE 1.00 0.00 X 0 0 0 CHARLEY GEORGE TRUSTEE 1.00 0.00 X 0 0 0 GORDON HALL TREASURER / TRUSTEE (AS OF 10/23) 1.00 0.00 X 0 0 0 PETER HERSCHEND TRUSTEE 1.00 0.50 X 0 0 0 ENOCH LIAO TRUSTEE (AS OF 08/2023) 1.00 0.00 X 0 0 0 DOUGLAS MACGRAY TRUSTEE 1.00 0.00 X 0 0 0 REID MACLELLAN TRUSTEE 1.00 0.50 X 0 0 0 ALEXIS RAPO TRUSTEE 1.00 0.00 X 0 0 0 RAVI RAVICHANDRAN TRUSTEE 1.00 0.00 X 0 0 0 DANTE RUTSTROM TRUSTEE (THRU 05/2024) 1.00 0.00 X 0 0 0 SAMUEL SCHREINER III TRUSTEE 1.00 0.50 X 0 0 0 MARY SHAHIAN TRUSTEE 1.00 0.00 X 0 0 0 MADELYN SHIELDS TRUSTEE 1.00 0.00 X 0 0 0 LORI SMITH TRUSTEE 1.00 0.00 X 0 0 0 KARON WILLIAMSON TRUSTEE 1.00 0.50 X 0 0 0 MICHAEL D HAMMOND PRESIDENT 60.00 1.00 X 409380 0 133385 DANIEL TYMANN EVP AND CHIEF OF STAFF (THRU 02/24) 60.00 0.00 X 135160 0 21394 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 60.00 0.00 X 183310 0 22844 STEPHEN D LACORAZZA VP FOR FINANCE & CFO (THRU 03/2024) 60.00 0.00 X 171285 0 32764 TIMOTHY BREENE EXECUTIVE VP 60.00 0.00 X 97875 0 0 JEFF EUBANK INTERIM VP FIN. & CFO (AS OF 01/24) 0.00 0.00 X 0 0 0 RICHARD SWEENEY VICE PRESIDENT FOR MARKETING & EXT. 60.00 0.00 X 148250 0 29438 BRITT CARLSON EATON VP FOR ADVANCEMENT 60.00 0.00 X 158514 0 31388 ROBERT GRINNELL PHILANTHROPIC ADVISOR 60.00 0.00 X 142815 0 28346 JON WELTY PEACHY DEAN OF ACADEMIC AFFAIRS 60.00 0.00 X 131547 0 32943 JENNIFER SKAGGS VP FOR STUDENT LIFE 60.00 0.00 X 158514 0 32756 1736650 0 365258 13 0 1 0 BON APPETIT MANAGEMENT COMPANY PO BOX 417632 BOSTON MA 022414632 DINING SERVICE MANAGEMENT 3306201 RICHARDSON MEDIA GROUP INC 75 CONGRESS STREET STE 214 PORTSMOUTH NH 03801 ADVERTISING 431025 RESOURCE & ENERGY CONSULTING LLC PO BOX 367 NORTH ANDOVER MA 01845 CONSTRUCTION 387120 EAB PO BOX 603519 CHARLOTTE NC 282603519 ADVERTISING 378689 EDF ENERGY SERVICES LLC PO BOX 74007029 CHICAGO IL 606747029 ENERGY SUPPLIER 359615 17 74416 12491821 1104696 12566237 TUITION FEES 611310 38120786 38120786 RESIDENCE HALL REVENUE 611310 10167332 10167332 BOARD PLAN 611310 4256442 4256442 SUMMER PROGRAMS 611310 943206 943206 BALANCE AND MOBILITY CENTER 611310 328610 328610 3080282 3080282 56896658 3419371 3419371 16385 0 16385 16385 16385 21166836 51094 18073131 0 3093705 51094 3144799 3144799 76043450 56896658 0 6580555 14661882 14661882 2207875 2207875 1953728 538147 1019028 396553 105947 20556 48837 36554 23790621 17595141 5222507 972973 16523 12829 2829 865 6177476 4872585 1016685 288206 1755036 1413750 267444 73842 298375 298375 228186 228186 249770 249770 5407470 5052257 10613 344600 811662 164260 647402 2934955 2698882 63925 172148 1784641 1209265 25183 550193 6424623 6310928 69633 44062 2337764 2169831 65811 102122 55694 6927 1692 47075 644580 507929 136651 4833665 4497242 282298 54125 105471 93047 11356 1068 SPECIAL EVENTS 1275205 871709 4692 398804 BOND EXPENSES 8766 8766 ALLOCATION OF OPERATION 0 700238 -701501 1263 509027 267643 8487 232897 78578942 65872923 8341267 4364752 3368221 622218 9064781 15387208 14896839 11315385 1682104 1371996 14891 15752 1396523 975620 186991409 144417288 44256172 42574121 106622783 114422855 809033 528218 313896 706161 182425243 187919534 1810743 3463183 1699969 1475369 14737029 14745795 106005 26713 3372600 1477386 9434421 9215965 31160767 30404411 X 69717043 73710572 81547433 83804551 151264476 157515123 182425243 187919534 X -2535492 8773659 12480 X 0 1 X 1 1 1 X 12719686 9241739 10699827 13845084 12566237 59072573 12719686 9241739 10699827 13845084 12566237 59072573 17887876 41184697 1671853 1331357 1765725 2395399 3435756 10600090 69672663 317362171 0.59110 0.51190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 105587979 2103778 13956469 2225174 4332686 115090366 87072779 15093291 7622139 1587458 2612772 105587979 98936710 6431285 -13893319 2323844 2078053 87072779 78099186 5208842 19472316 2105789 1737845 98936710 73914132 5031687 2623669 1820618 1649684 78099186 0.42000 0.47000 0.11000 0 0 1799226 1799226 134308345 97878932 36429413 37070763 35015018 2055745 13813075 11523338 2289737 42574121 CARES ACT PPP LOAN 7046037 ANNUITY PAYMENT OBLIGATIONS 911283 ADVANCES FROM US DOE 740433 CONDITIONAL ASSET RETIREMENT OBLIGATION 518212 9215965 X PART III, LINE 1A: THE COLLEGE HOLDS CERTAIN COLLECTIONS OF WORKS OF ART AND FURNISHINGS. THESE COLLECTIONS ARE HOUSED IN A PROTECTED ENVIRONMENT AND ARE USED FOR EXHIBITION PURPOSES FOR THE PUBLIC, FOR EDUCATION AND RESEARCH, AS WELL AS FOR THE FURTHERANCE OF SERVICE TO THE PUBLIC. THESE COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAINS NOR ARE THEY ENCUMBERED IN ANY MANNER. ACCORDINGLY, THESE COLLECTIONS ARE NOT CAPITALIZED OR RECORDED FOR PURPOSES OF PREPARING THE ACCOMPANYING FINANCIAL STATEMENTS. PART III, LINE 4: OCCASIONALLY THE COLLEGE RECEIVES GIFTS OF ART OR COLLECTIBLES WHICH ARE PUT ON DISPLAY IN VARIOUS BUILDINGS THROUGHOUT THE CAMPUS. WE ALSO MAINTAIN LIBRARY ARCHIVES OF COLLEGE HISTORICAL DOCUMENTS AND BOOK COLLECTIONS KEPT FOR POSTERITY. PART IV, LINE 2B: THE COLLEGE MAINTAINS CUSTODIAL OR "PASS THROUGH" ACCOUNTS FOR FEDERAL STUDENT LOANS, PELL GRANT AND STATE GRANTS. FUNDS ARE HELD IN THESE ACCOUNTS UNTIL DISTRIBUTED TO INDIVIDUAL STUDENTS. THE COLLEGE ALSO MAINTAINS CUSTODIAL ACCOUNTS FOR STUDENT GOVERNMENT AND STUDENT MINISTRY GROUPS AND ACTIVITIES. PART V, LINE 4: THE INTENDED USE OF ENDOWMENT FUNDS IS DRIVEN BY DONOR RESTRICTIONS ON OUR ENDOWMENTS. APPROXIMATELY 34% OF APPROPRIATED REVENUES THIS YEAR WERE IN SCHOLARSHIP AWARDS. 42% OF REVENUES SUPPORTED GENERAL ACTIVITIES AND PHYSICAL PLANT. THE REMAINING 24% WAS ALLOCATED TO INSTRUCTIONAL ACTIVITIES AND ACADEMIC SUPPORT PROGRAMS. DISTRIBUTIONS OF INCOME ARE MADE USING A TOTAL RETURN METHOD. WE USED A SPENDING RATE OF 7% OF THE 3 YEAR ROLLING AVERAGE OF THE FAIR MARKET VALUE OF THE INVESTMENTS. PART X, LINE 2: FIN 48 FOOTNOTE: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GIVEN THE TECHNOLOGY AVAILABLE TODAY, WE HAVE INVESTED IN OUR WEB SITE AS THE WAY TO REACH THE MOST STUDENTS. OUR RACIALLY NONDISCRIMINATORY POLICY IS POSTED ON OUR WEB SITE. OUR PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS IN EACH GEOGRAPHIC AREA ARE DESIGNED TO INFORM STUDENTS OF ALL RACIAL SEGMENTS INTERESTED IN A CHRISTIAN COLLEGE OF THE AVAILABILITY OF GORDON COLLEGE. SCHEDULE E, PART I, LINE 6 GORDON COLLEGE RECEIVES TITLE IV FUNDS FOR AID TO STUDENTS FROM THE DEPARTMENT OF EDUCATION FOR FEDERAL WORK STUDY, FSEOG, FEDERAL PELL GRANT AND OTHER FEDERAL STUDENT AID GRANT PROGRAMS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 13 GRANTMAKING 132282 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTMAKING 69050 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANTMAKING 103700 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTMAKING SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTMAKING 429555 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING 1181253 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTMAKING 48166 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 GRANTMAKING 14305 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 GRANTMAKING 98164 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 8721 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 1437 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 3513 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES MARKETING & RECRUITMENT 6766 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDY ABROAD 1252898 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDY ABROAD 41118 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES STUDY ABROAD 38043 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES STUDY ABROAD 70749 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDY ABROAD 60928 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDY ABROAD 26469 1 13 0 0 1 13 1978311 1608806 3587117 SCHOLARSHIPS AND GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 10 132282 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 5 69050 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 6 103700 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 22 429955 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 82 1181253 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 3 48166 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 11 145305 ACCOUNT CREDIT 0 SCHOLARSHIPS AND GRANTS RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 4 98164 ACCOUNT CREDIT 0 0 0 0 0 0 0 PART I, LINE 2: GRANTS AND SCHOLARSHIPS TO INTERNATIONAL STUDENTS ARE TREATED AS TUITION DISCOUNTS AND ARE APPLIED AS ACCOUNTING CREDITS ON EACH STUDENT'S BILL. THEY ARE NOT PAID DIRECTLY TO THE STUDENT. MERIT SCHOLARSHIPS ARE AWARDED BASED ON ACADEMIC CRITERIA AND ARE RENEWED ANNUALLY BASED ON SATISFACTORY GPA REQUIREMENTS THAT ARE VERIFIED BY THE REGISTRAR'S OFFICE. DONATED SCHOLARSHIP FUNDS ARE AWARDED BASED ON CRITERIA PROVIDED BY DONORS. SPECIFIC ELIGIBILITY IS VERIFIED ANNUALLY BY THE REGISTRAR'S OFFICE, ADMISSIONS AND THE FINANCIAL AID OFFICE. NEED BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. THE COLLEGE USES INFORMATION PROVIDED BY THE CSS PROFILE OF THE COLLEGE BOARD. THE GRANT AMOUNT IS CARRIED FORWARD FROM YEAR TO YEAR UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. PART I, LINE 3: EUROPE ONLY: WE OFFER SEMESTER BASED PROGRAMS IN ITALY AND THE BALKANS. EXPENDITURES ARE REPORTED USING ACCRUAL BASED ACCOUNTING. EMPLOYEE COMPENSATION IS PROCESSED THROUGH OUR CAMPUS PAYROLL SYSTEM. OTHER PROGRAM COSTS ARE MANAGED BY THE PROGRAM DIRECTORS. FUNDS ARE WIRED PERIODICALLY AT THE REQUEST OF THE PROGRAM LEADERS AND APPROVED BY THE GLOBAL EDUCATION ADMINISTRATOR. THE PROGRAM LEADERS PAY LOCAL EXPENSES. EXPENSE DOCUMENTATION IS SUBMITTED TO THE CONTROLLER'S OFFICE FOR REVIEW. COSTS RECORDED AT THE TIME OF THE WIRES ARE FOR TUITION, ROOM, BOARD AND INCIDENTALS OF THE STUDENTS. WE ALSO OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 2-4 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. OTHER REGIONS: WE OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 2-4 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. THE GLOBAL EDUCATION OFFICE APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. MISSIONS AND SERVICE LEARNING TRIPS: GOAL OF TRIPS IS TO HELP STUDENTS SERVE OVERSEAS FOR A PERIOD OF TIME RANGING FROM 3-10 WEEKS OVER SEMESTER OR SUMMER BREAKS. THEY ARE STUDENT LED/STAFF ADVISED. IN COUNTRY COSTS ARE FOR FOOD, HOUSING, TRANSPORTATION AND SERVICE PROJECT EXPENSES. WHERE POSSIBLE, FUNDS ARE WIRED FOR THESE COSTS BASED ON APPROVALS FROM THE DEAN OF CHAPEL. PER DIEM ADVANCES BASED ON STATE DEPARTMENT RATES ARE ISSUED TO TRIP LEADERS TO PAY IN COUNTRY COSTS. TRIP LEADERS MUST DOCUMENT THE EXPENSES WITH DETAILED ITINERARIES AND HAVE APPROVAL FROM THE DEAN OF CHAPEL. GLOBAL INTERNSHIPS: WE STRONGLY BELIEVE GLOBAL INTERNSHIPS PROVIDE OUR STUDENTS WITH RICH CROSS-CULTURAL EXPERIENCES, HELP THEM BUILD NETWORKS WITH GLOBAL ORGANIZATIONS IN DIVERSE AREAS OF WORK AND MINISTRY, AND POSITION THEM WELL TO MEET THE CHALLENGES IN AN INCREASINGLY COMPETITIVE WORLD. STUDENTS CAN APPLY FOR ASSISTANCE WITH TRAVEL COSTS TO INTERNATIONAL LOCATIONS THROUGH OUR AVA MEMMEN GLOBAL INTERNSHIP PROGRAM. THE PROGRAM IS ADMINISTERED BY THE EXECUTIVE VICE PRESIDENT AND THE CAREER SERVICES OFFICE. GLOBAL HONORS: THE COLLEGE HAS DEVELOPED AN HONORS PROGRAM FROM WHICH 12 TO 15 STUDENTS ARE SELECTED EACH YEAR. IN ADDITION TO SCHOLARSHIP, IT INVOLVES TRAVEL TO AN ECONOMICALLY DEPRESSED COUNTRY DURING THE FRESHMAN AND SOPHOMORE YEARS FOR LEARNING AND SERVICE OPPORTUNITIES. THE PRESIDENT AND ADVANCEMENT STAFF TRAVELED ON BEHALF OF THE COLLEGE FOR STUDENT RECRUITMENT DONOR RELATIONSHIP BUILDING AND CULTIVATION. THE PRESIDENT TRAVELED ON BEHALF OF THE COLLEGE FOR STUDENT RECRUITMENT AND PROGRAM DEVELOPMENT. THE PRESIDENT LED A TRIP FOR FRIENDS AND DONORS OF THE COLLEGE FOR DONOR RELATIONSHIP BUILDING AND CULTIVATION. PART I, LINE 3: ACCOUNTING METHOD USED: THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. PART III: ACCOUNTING METHOD USED: THE ACCOUNTING METHOD USED TO REPORT SCHOLARSHIPS AND GRANTS FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. 1 SCHOLARSHIPS AND GRANTS TO STUDENTS 1229 14233054 0 FSEOG GRANTS TO STUDENTS 172 162460 0 FWS GRANTS TO STUDENTS 235 250809 0 FEDERAL TEACH GRANT 6 15559 0 PART I, LINE 2: GORDON COLLEGE AWARDS THREE TYPES OF GRANTS/SCHOLARSHIPS: MERIT SCHOLARSHIPS, NEED-BASED GRANTS AND ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS. MERIT SCHOLARSHIPS ARE AWARDED BASED ON THE INCOMING STUDENT'S ACADEMIC CRITERIA DETERMINED BY THE ADMISSIONS OFFICE. THESE SCHOLARSHIPS ARE RENEWED ANNUALLY BY VERIFICATION OF THE REGISTRAR'S OFFICE THAT CUMULATIVE GPA REQUIREMENTS ARE MET. NEED-BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. WE DETERMINE FINANCIAL NEED USING INFORMATION PROVIDED BY THE FAFSA. WE PRACTICE LEVEL-FUNDING OF THE NEED-BASED GRANTS TO FUTURE YEARS UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS ARE AWARDED BASED ON CRITERIA ESTABLISHED BY DONORS. THE CRITERIA INFORMATION ON SPECIFIC ELIGIBLE STUDENTS IS PROVIDED BY THE REGISTRAR, ADMISSIONS AND FINANCIAL AID OFFICES. STUDENTS ARE EVALUATED ANNUALLY TO VERIFY THEY CONTINUE TO MEET THE DONOR CRITERIA FOR AN ENDOWMENT AWARD. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 MICHAEL D HAMMOND PRESIDENT 365296 0 34000 0 10084 0 0 0 133385 0 542765 0 0 0 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 172620 0 10000 0 690 0 0 0 22844 0 206154 0 0 0 STEPHEN D LACORAZZA VP FOR FINANCE & CFO (THRU 03/2024) 163515 0 7500 0 270 0 0 0 32764 0 204049 0 0 0 JENNIFER SKAGGS VP FOR STUDENT LIFE 152243 0 0 0 6271 0 0 0 32756 0 191270 0 0 0 BRITT CARLSON EATON VP FOR ADVANCEMENT 150714 0 7500 0 300 0 0 0 31388 0 189902 0 0 0 RICHARD SWEENEY VICE PRESIDENT FOR MARKETING & EXT. 143026 0 4000 0 1224 0 0 0 29438 0 177688 0 0 0 ROBERT GRINNELL PHILANTHROPIC ADVISOR 141840 0 0 0 975 0 0 0 28346 0 171161 0 0 0 JON WELTY PEACHY DEAN OF ACADEMIC AFFAIRS 130572 0 0 0 975 0 0 0 32943 0 164490 0 0 0 DANIEL TYMANN EVP AND CHIEF OF STAFF (THRU 02/24) 129342 0 4000 0 1818 0 0 0 21394 0 156554 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: OCCASIONALLY SPOUSES OF OFFICERS ACCOMPANY THEM ON BUSINESS TRIPS FOR THE COLLEGE. IN ORDER TO BE TREATED AS A WORKING CONDITION FRINGE BENEFIT, THE COLLEGE REQUIRES SUBSTANTIATION OF THE TRIP AS A BONAFIDE BUSINESS EXPENSE FOR BOTH THE OFFICER AND THE SPOUSE. IF THERE IS NO BUSINESS PURPOSE FOR THE SPOUSE, THE SPOUSAL TRAVEL IS TREATED AS TAXABLE INCOME TO THE OFFICER OR THE OFFICER REIMBURSES THE COLLEGE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE LISTED PERSON RECEIVED THIS BENEFIT. THE PRESIDENT IS REQUIRED TO LIVE IN ON-CAMPUS HOUSING FOR HOSTING PURPOSES AND 24/7 AVAILABILITY TO THE CAMPUS COMMUNITY. BECAUSE OF THIS REQUIREMENT, IT IS EXCLUDED FROM WAGES UNDER SECTION 119 OF THE IRS CODE. THE HOUSING VALUE INCLUDED IN NON-TAXABLE COMPENSATION WAS $102,000. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN D. PART I, LINE 7 OFFICERS AND OTHER EMPLOYEES WERE GIVEN BONUSES FOR EXCEEDING THE GOALS AND EXPECTATIONS ASSIGNED TO THEM FOR THE YEAR. RECOMMENDATIONS FOR BONUSES ARE MADE BY THE PRESIDENT TO THE EXECUTIVE COMMITTEE OF THE BOARD. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND DETERMINES BONUS PAYMENTS. SUSPENSION OF QUALIFIED RETIREMENT PLAN: THE COLLEGE SUSPENDED CONTRIBUTIONS AS OF JULY 2020 TO THE DEFINED CONTRIBUTION PLAN. CONTRIBUTIONS WERE REINSTATED EFFECTIVE JULY 1, 2024. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2023-06-29 15000000 REFUND ISSUED FOR SERIES 2020 0 0 0 A 15000000 225971 14774029 2023 1 0 1 1 A 0 0 1 1 0 0.00760 0.00760 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 NA NOT REQUIRED N/A NOT REQUIRED 99910 SCHOLARSHIP ACADEMIC MERIT SCHOLARSHIPS BASED ON STANDARD FOR 13 INTERESTED PERSONS JONATHAN TYMANN BROTHER OF EVP 11933 EMPLOYMENT COMPENSATION 0 JENNIFER HAMMOND SPOUSE OF PRESIDENT 36554 EMPLOYMENT COMPENSATION 0 BENNETT FORKNER SON OF TRUSTEE 48371 EMPLOYMENT COMPENSATION 0 JORDAN TYMANN NEPHEW OF EVP 45896 EMPLOYMENT COMPENSATION 0 X 25 1104696 FMV ON DATE RECEIVED 0 0 1 0 PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: GORDON COLLEGE'S PRIMARY RESPONSIBILITY IS TO PREPARE STUDENTS FOR THE LONG HAUL, TO MAKE THEM SPIRITUALLY, INTELLECTUALLY, RELATIONALLY AND PROFESSIONALLY READY FOR A LIFETIME OF GROWTH - FROM THE FIRST JOB OUT OF COLLEGE AND BEYOND INTO FIELDS NOT YET EXISTING. OUR MISSION IS TO THE FOUNDATION OF ALL WE DO AS WE INSPIRE THE NEXT GENERATION TOWARD FAITHFUL LEADERSHIP FOR THE COMMON GOOD. FORM 990, PART VI, SECTION A, LINE 3 THE CURRENT INTERIM CFO IS EMPLOYED THROUGH A MANAGEMENT COMPANY, CFO COLLEAGUE LLC. TOTAL COMPENSATION TO THE MANAGEMENT COMPANY FOR FY2024 SERVICES WAS $251,060. FORM 990, PART VI, SECTION B, LINE 11B GRANT THORNTON ADVISORS LLC PREPARES THE 990 AND SUBMITS IT FOR REVIEW TO THE VICE PRESIDENT FOR FINANCE, THE PRESIDENT AND DIRECTOR OF ACCOUNTING. THE FORM 990 IS ALSO REVIEWED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM. ONCE THE FORM 990 IS APPROVED BY THE PRESIDENT AND VICE PRESIDENT, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE, THE FORM 990, AS IT WILL ULTIMATELY BE FILED, IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL DISCLOSURE FORM DELINEATING CONFLICTS IS DISTRIBUTED TO ALL TRUSTEES AT THE ANNUAL BOARD MEETING AND MUST BE SIGNED BY EACH TRUSTEE. A COPY IS MAILED TO ANY TRUSTEE WHO IS ABSENT AND MUST BE SIGNED AND RETURNED. TRUSTEES MUST RECUSE THEMSELVES FROM ANY DISCUSSION OF OR VOTE ON ANY ISSUE INVOLVING CONFLICTS OF INTEREST. KEY EMPLOYEES AND OFFICERS MUST ALSO SIGN AN ANNUAL CONFLICT OF INTEREST FORM WHICH CLEARLY DELINEATES CONFLICTS OF INTEREST. THE VICE PRESIDENT FOR FINANCE MONITORS AND REVIEWS THE CONFLICT OF INTEREST STATEMENTS. THE PRESIDENT'S OFFICE COLLECTS AND MAINTAINS THEM. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD SERVES AS THE COMPENSATION COMMITTEE FOR THE PRESIDENT'S POSITION. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT BOARD MEMBERS. CCC, CCCU AND OTHER PEER INSTITUTIONS COMPENSATION STUDIES OF COLLEGE PRESIDENTS ARE REVIEWED BY THE COMMITTEE AND THE SALARY IS SET BY COMMITTEE VOTE. THE PRESIDENT HAS AN ANNUAL REVIEW BY THE COMMITTEE AND IS JUDGED BASED ON ATTAINMENT OF GOALS FOR THE YEAR. THE PRESIDENT SUBMITS COMPENSATION COMPARABILITY DATA TO THE COMMITTEE FOR THE PROVOST, VICE PRESIDENT FOR FINANCE AND EXECUTIVE VICE PRESIDENT POSITIONS. COMPENSATION INCREASES AND BONUSES, IF ANY, ARE BASED UPON JOB PERFORMANCE AND THE INDEPENDENT STUDIES. MINUTES ARE KEPT OF THE PROCESS AND THE COMMITTEE VOTE. THE LAST REVIEW PROCESS TOOK PLACE IN 2024. FORM 990, PART VI, SECTION C, LINE 19 OUR GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. OUR CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. OUR FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND COPIES ARE MAINTAINED IN THE COLLEGE LIBRARY. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS 12,480. GORDON COLLEGE FOUNDATION 255 GRAPEVINE ROAD WENHAM MA 01984 222610484 LAND USE MA 501(C)(3) LINE 12A, I GORDON COLLEGE 0 CHARITABLE REMAINDER TRUSTS(4) 255 GRAPEVINE ROAD WENHAM MA 01984 CHARITABLE GIFT MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0