2025-05-14T11:06:24-05:00 2024-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2023-07-01 030179298 PRESIDENT AND FELLOWS OF MIDDLEBURY COLLEGE PRES 8024435699 CONTROLLERS OFFICE 102 MIDDLEBURY VT 05753 DAVID J PROVOST EXEC VP FINANCE & TREAS 8024435547 2025-05-07 1 0 STEPHANIE LONCZAK P01880207 6179881000 2025-05-05 2023 2025-03-06 01:10:19Z LAURIE L PATTON OLD CHAPEL ROAD MIDDLEBURY VT 05753 781634623 0 X WWW.MIDDLEBURY.EDU X 1800 VT WE ARE A GLOBAL LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE, GRADUATE, AND SPECIALIZED PROGRAMS. 34 33 4904 1500 7033322 0 79476129 142807926 281301087 294482409 95069573 82720185 192876 193461 456039665 520203981 91859871 93878110 0 0 193183996 203989807 0 0 4829804 115915444 127388548 400959311 425256465 55080354 94947516 2015811537 2218100975 453450257 511661323 1562361280 1706439652 X THROUGH A COMMITMENT TO IMMERSIVE LEARNING, WE PREPARE STUDENTS TO LEAD ENGAGED, CONSEQUENTIAL, AND CREATIVE LIVES, CONTRIBUTE TO THEIR COMMUNITIES, AND ADDRESS THE WORLD'S MOST CHALLENGING PROBLEMS. 0 0 114145427 276663651 INSTRUCTION REPRESENTS THE EXPENSES FOR THE EDUCATIONAL PROGRAMS. THE PROGRAMS ARE COMPRISED OF STUDENTS WHO ARE FULL TIME ON THE MIDDLEBURY VT CAMPUS PLUS THE STUDENTS WHO ARE ATTENDING THE STUDY ABROAD AND SUMMER PROGRAMS. A BACHELORS DEGREE AND A MASTERS IN LANGUAGE AND ENGLISH ARE THE PRIMARY DEGREES GRANTED. THE MONTEREY CA CAMPUS OFFERS GRADUATE DEGREES IN PROGRAMS OF STUDY IN TRANSLATION, INTERPRETATION AND LANGUAGE EDUCATION AND INTERNATIONAL POLICY MANAGEMENT. 49993676 740327 0 ACADEMIC SUPPORT REPRESENTS SPONSORED ACTIVITIES EXPENSES INCURRED IN SUPPORT OF THE EDUCATIONAL ACTIVITIES FOR ENROLLED STUDENTS. GRANTS INCLUDE SUPPORT TO OTHER ORGANIZATIONS, FOUNDATIONS, AND RESEARCH INSTITUTIONS. 143419649 92264134 STUDENT SERVICES AND FINANCIAL AID REPRESENTS EXPENSES INCURRED IN THE SUPPORT OF THE ENROLLED STUDENTS. 50807555 873649 17818758 INSTITUTIONAL SUPPORT AND AUXILIARY ENTERPRISES REPRESENT EXPENSES OF DORMITORIES, AND THE EXPENSES AND REVENUE FROM RECREATIONAL FACILITIES AND FOOD SERVICES. 50807555 873649 17818758 358366307 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 1 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 1 0 1 X 990 0 1 4904 1 1 1 1 AR AU BR CM CI FR GM IT JA MO RS SP UK 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 VT X DAVID J PROVOST 8024435699 OLD CHAPEL MIDDLEBURY VT 05753 LAURIE L PATTON PRESIDENT 40.00 1.00 X X 659363 0 113098 GEORGE C LEE II CHAIR - CHARTER TRUSTEE 1.00 0.00 X 0 0 0 KAREN A STOLLEY VICE CHAIR-CHARTER TRUST 1.00 0.00 X 0 0 0 WILLIAM F TRUSCOTT CHAIR-CHARTER TRUST 1.00 0.00 X 0 0 0 BELINDA BADCOCK TERM TRUSTEE 1.00 0.00 X 0 0 0 ZACHARY A BOURQUE ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 JOSEPH W BROWN CHARTER TRUSTEE 1.00 0.00 X 0 0 0 LEILANI M BROWN VICE CHAIR-CHARTER TRUST 1.00 0.00 X 0 0 0 KIRTLEY HORTON CAMERON CHARTER TRUSTEE 1.00 0.00 X 0 0 0 KENSHIN CHO RECENT GRADUATE TRUSTEE 1.00 0.00 X 0 0 0 BARBARA G COLE TERM TRUSTEE 1.00 0.00 X 0 0 0 DENVER EDWARDS ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 JANINE F FENG TERM TRUSTEE 1.00 0.00 X 0 0 0 GRAHAM C GOLDSMITH TERM TRUSTEE 1.00 0.00 X 0 0 0 PARKER HARRIS III TERM TRUSTEE 1.00 0.00 X 0 0 0 LUCIENNE M IDE TERM TRUSTEE 1.00 0.00 X 0 0 0 CAROL L JONES TERM TRUSTEE 1.00 0.00 X 0 0 0 CATHERINE LEE TERM TRUSTEE 1.00 0.00 X 0 0 0 CAROLINE SNEATH MCBRIDE CHARTER TRUSTEE 1.00 0.00 X 0 0 0 KOBY ALTMAN ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 ALICE J MURPHY TERM TRUSTEE 1.00 0.00 X 0 0 0 DENNIS D PARKER CHARTER TRUSTEE 1.00 0.00 X 0 0 0 ANNE D PETERSON ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 SUZANNE REIDER TERM TRUSTEE 1.00 0.00 X 0 0 0 RICHARD T SCANLON CHARTER TRUSTEE 1.00 0.00 X 0 0 0 HENRY J SIMONDS TERM TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH C SPEERS TERM TRUSTEE 1.00 0.00 X 0 0 0 MARK SPENCE TERM TRUSTEE 1.00 0.00 X 0 0 0 DANIELLE S VIRTUE ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 LARRY YARBROUGH TERM TRUSTEE 1.00 0.00 X 0 0 0 KASHIF ZAFAR TERM TRUSTEE 1.00 0.00 X 0 0 0 SHAWN P RYAN ALUMNI TRUSTEE 1.00 0.00 X 0 0 0 SUSAN J SCHER CHAIR - CHARTER TRUSTEE 1.00 0.00 X 0 0 0 JOHN E WALDRON TERM TRUSTEE 1.00 0.00 X 0 0 0 DAVID PROVOST EVP FINANCE & ADMIN. 40.00 0.00 X 413147 0 105894 HANNAH ROSS SEC. & GENERAL COUNSEL 40.00 0.00 X 274269 0 107531 ALBERTO CITARELLA AVP FINANCE & ASST. TREAS. 40.00 0.00 X 216489 0 44796 SUSAN PARSONS RITTER ASSOCIATE SECRETARY 40.00 0.00 X 187602 0 61109 CHARLENE M BARRETT ASSISTANT SECRETARY 40.00 0.00 X 81797 0 25529 SMITA RUZICKA VP STUDENT AFFAIRS 40.00 0.00 X 247569 0 68514 MICHELLE MCCAULEY INTERIM PROVOST 40.00 0.00 X 238826 0 73016 WILLIAM C POTTER DIRECTOR OF CNS 40.00 0.00 X 327197 0 72393 PHILIP GEIER EXEC, DIR. DAVIS UWC 40.00 0.00 X 276754 0 94754 DANIEL J COURCEY VP FOR ADVANCEMENT 40.00 0.00 X 383780 0 96225 MARK PELUSO CHIEF HEALTH OFF & PHYSICIAN 40.00 0.00 X 262350 0 100775 JEFF DAYTON-JOHNSON VP MIIS ACADEMIC AFFAIRS & DEAN 40.00 0.00 X 261511 0 95431 3830654 0 1059065 471 0 1 0 NAYLOR & BREEN BUILDERS INC 191 ALTA WOODS PVT BRANDON VT 05733 CONSTRUCTION 29379725 BURTON F CLARK INC 41155 STATE HIGHWAY 10 DELHI NY 13753 CONSTRUCTION 4761206 REINHART FOODSERVICE COMPANY PO BOX 8654 ESSEX JUNCTION VT 05451 FOOD SERVICE 4734858 ACKER EXCAVATING LLC 11A LIBERTY STREET BRISTOL VT 05443 CONSTRUCTION 1865719 SKYTRAC SERVICES 408 S TOOELE BLVD TOOELE UT 84074 CONSTRUCTION 1265173 57 8832600 133975326 62529212 142807926 TUITION AND FEES 611710 276663651 276663651 DINING 722514 2152102 2152102 SNOW BOWL 713910 1682569 1682569 COLLEGE STORE 459210 1150813 1150813 GOLF COURSE 713910 732165 732165 12101109 12101109 294482409 94450686 5223061 89227625 136405 136405 249700141 261430642 -11730501 -11730501 1753205 -13483706 REPROGRAPHICS SALE 323100 41256 41256 BOOK STORE SALE ITEMS 459210 15800 15800 57056 520203981 294482409 7033322 75880324 1505298 1505298 92264134 92264134 108678 108678 4302722 731463 2839796 731463 115319 115319 144050102 122560622 19714869 1774611 14786004 12290195 2246228 249581 31388771 26090491 4768452 529828 9346889 7769177 1419941 157771 1252313 4285 1248028 555378 171521 383857 3 3 4459017 4459017 484377 305463 161023 17891 1164751 580113 526174 58464 3860860 874517 2986343 14255757 7895105 6360652 9740958 8712449 925658 102851 624537 479308 130706 14523 10627031 9667527 863554 95950 22722039 19788053 2640587 293399 3174703 20486 3154217 CONTRACTED SERVICES 22548042 19556371 2692504 299167 OTHER MISC EXPENSE 20159039 15516307 4178459 464273 FOOD 7535932 7487233 43829 4870 SUPPLIES 4223811 3872189 316460 35162 425256465 358366307 62060354 4829804 11194919 5228043 34410810 43429323 55056170 12116004 8642225 8278591 7578176 763088 874485 3249966 3631522 998489636 538769622 423566897 459720014 164023513 205670000 1300909543 1402069000 32778000 48279693 2442530 2015811537 2218100975 37915043 58563187 25130348 19575070 288633813 327170711 6377537 6292095 14030000 12536000 81363516 87524260 453450257 511661323 X 194308000 199554000 1368053280 1506885652 1562361280 1706439652 2015811537 2218100975 X 94947516 51796283 -2665427 X 0 1 X 1 1 1 X 54673542 42739863 88264200 79476129 142807926 407961660 54673542 42739863 88264200 79476129 142807926 407961660 23863192 384098468 32786528 79355939 114239001 42050849 89364030 357796347 765758007 1317222477 0.50160 0.51620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 3 3 0 PART II-B, LINE 1, LOBBYING ACTIVITIES: CONSORTIUM ON FINANCING HIGHER EDUCATION (COFHE) ESTIMATES THAT $3 OF MEMBER DUES WERE SPENT ON LOBBYING EXPENSES PAID FOR BY COFHE DUES. 22530479 X X X X 0 0 1 X 1468867755 72315491 127439527 19350252 51406748 -118398 1597984171 1467208015 23664872 42454357 16082312 47984029 393148 1468867755 1511000984 22805932 -8830550 14935985 42304730 527636 1467208015 1133644078 15917228 424164897 14620565 48104654 1511000984 1157786019 19927025 34253603 12747734 65573977 1133644936 0.14000 0.31000 0.55000 0 0 69761800 69761800 673668594 408376366 265292228 47274341 2731666 44542675 173563339 127661590 45901749 34221562 34221562 459720014 EQUITY SECURITIES 290106977 F ALTERNATIVE EQUITIES 350874344 F REAL ESTATE AND MORTGAGES 8707145 F PRIVATE EQUITY PARTNERSHIPS 742606290 F OTHER INVESTMENTS 9774244 F 1402069000 FUNDS HELD FOR OTHERS 3835505 ANNUITIES AND UNITRUSTS PAYABLE 30278034 REFUNDABLE GOVERNMENT LOANS 2601363 LEASE OBLIGATIONS 50809358 87524260 X PART III, LINE 4: THE MIDDLEBURY MUSEUM OF ART IS A DEPARTMENT OF MIDDLEBURY THAT SERVES THE EDUCATIONAL MISSION OF MIDDLEBURY AND IS PARTICULARLY LINKED TO THE DEPARTMENT OF HISTORY OF ART AND ARCHITECTURE AND THE STUDIO ART PROGRAM. THE MUSEUM STRIVES TO ACQUIRE WORKS THAT REFLECT A VARIETY OF ARTISTIC AND CULTURAL ENDEAVORS. THE PRIMARY GOAL OF THE MUSEUM'S COLLECTING ACTIVITIES IS TO DEVELOP AN ECLECTIC BODY OF REPRESENTATIVE ARTIFACTS THAT ILLUSTRATE AND INTERPRET ARTISTIC EXPRESSION IN DIVERSE FORMS FROM A BROAD RANGE OF CULTURES. THE MUSEUM'S PERMANENT COLLECTION SUPPORTS THE EDUCATIONAL GOALS AND CULTURAL ENRICHMENT OF THE ACADEMIC COMMUNITY. THE COLLECTION IS USED TO FURTHER SCHOLARLY RESEARCH AS WELL AS APPRECIATION FOR WORKS OF ART, HISTORY, AND CULTURE OF DIVERSE SOCIETIES. PART IV, LINE 2B: MIDDLEBURY HOLDS CUSTODIAL ENDOWMENT FUNDS TO SUPPORT PORTER HOSPITAL AND THE TOWN OF MIDDLEBURY. PART V, LINE 4 MIDDLEBURY'S ENDOWMENT CONSISTS OF DONOR RESTRICTED ENDOWMENT FUNDS AND BOARD-DESIGNATED FUNDS TO FUNCTION AS ENDOWMENT FOR A VARIETY OF PURPOSES. THE BIGGEST USE OF THE ENDOWMENT IS RESTRICTED FOR FINANCIAL AID/SCHOLARSHIPS/STUDENT BENEFIT WITH CLOSE TO A THIRD OF THE ENDOWMENT EARMARKED FOR THESE PURPOSES. THE NEXT BIGGEST USE OF THE ENDOWMENT IS RESTRICTED FOR SUPPORT FOR SPECIFIC PROGRAMS AT THE COLLEGE, ALSO ABOUT A THIRD OF THE ENDOWMENT. THE THIRD LARGEST USE OF THE ENDOWMENT IS RESTRICTED FOR INSTRUCTIONAL EXPENSES. MIDDLEBURY'S BOARD OF TRUSTEES APPROVES A DISTRIBUTION OF INVESTMENT RETURN BASED ON THE AVERAGE ASSET VALUE AS DETERMINED AT THE END OF THE TWELVE PRIOR CALENDAR QUARTERS. CALCULATIONS ARE PERFORMED FOR INDIVIDUAL ENDOWMENT FUNDS AT A RATE OF 5.0%. THE CORRESPONDING CALCULATED SPENDING ALLOCATIONS ARE DISTRIBUTED MONTHLY FROM THE CURRENT NET TOTAL OR ACCUMULATED NET TOTAL INVESTMENT RETURNS FOR INDIVIDUAL ENDOWMENT FUNDS AND ARE USED FOR SCHOLARSHIPS, PRIZES, PROFESSORSHIPS, SPECIAL PURPOSES, AND CAPITAL PROJECTS. MIDDLEBURY HAS DEFINED THE ENDOWMENT ASSETS TO INCLUDE THE POOLED INVESTMENTS, DELINEATION ASSETS, SEPARATELY INVESTED ENDOWMENT FUNDS, AND INTERESTS IN PERPETUAL TRUSTS. PART X, LINE 2: TAX-EXEMPT STATUS MIDDLEBURY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY A TAXING AUTHORITY. MIDDLEBURY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE PART II LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: THE COLLEGE HAS SATISFIED THE PUBLICITY REQUIREMENT DESCRIBED IN SECTION 4.03 OF REVENUE PROCEDURE 75-50 AS TO STUDENTS KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY SERVED BY THE COLLEGE. MIDDLEBURY COMMUNICATES ITS COMMITMENT TO NON-DISCRIMINATION TO ALL STUDENTS, FACULTY AND STAFF THROUGH ITS POLICIES IN ITS HANDBOOK WHICH IS ON MIDDLEBURY'S MAIN WEB SITE, AND THROUGH OUTREACH AND EDUCATION. THE POLICY IS INCLUDED IN THE MIDDLEBURY HANDBOOK, WHICH IS A RESOURCE GUIDE FOR INCOMING STUDENTS. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: STUDENTS APPLY FOR AND RECEIVE FEDERAL FINANCIAL AID AND FACULTY OR STAFF APPLY FOR AND RECEIVE GOVERNMENT GRANTS. 1 EAST ASIA AND THE PACIFIC 1 9 PROGRAM SERVICES STUDIES ABROAD 924708 EUROPE (INCLUDING ICELAND & GREENLAND) 6 246 PROGRAM SERVICES STUDIES ABROAD 7229109 MIDDLE EAST AND NORTH AFRICA 4 28 PROGRAM SERVICES STUDIES ABROAD 996624 RUSSIA AND NEIGHBORING STATES 1 9 PROGRAM SERVICES STUDIES ABROAD 537440 SOUTH AMERICA 1 22 PROGRAM SERVICES STUDIES ABROAD 1387090 SUB-SAHARAN AFRICA 1 7 PROGRAM SERVICES STUDIES ABROAD 306982 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 165933965 14 321 0 0 14 321 177315918 0 177315918 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH GRANT 81880 DISBURSEMENT MADE DIRECTLY TO ORGANIZATION 0 FMV EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH GRANT 23336 DISBURSEMENT MADE DIRECTLY TO ORGANIZATION 0 FMV 2 0 1 0 1 1 1 1 PART I, LINE 2: DISBURSEMENTS MADE FOR GRANT FUNDS OUTSIDE THE UNITED STATES, IN FURTHERANCE OF MIDDLEBURY'S EXEMPT PROGRAMS ARE MADE IN ACCORDANCE WITH PROCEDURES OR SUBJECT TO CONDITIONS ESTABLISHED BY MIDDLEBURY'S GOVERNING BOARD DESIGNED TO ENSURE THAT THE INDIVIDUALS RECEIVING DISBURSEMENTS FROM MIDDLEBURY ARE ADEQUATELY INVESTIGATED TO ENSURE THAT THEY ARE QUALIFYING RECIPIENTS. GRANT SUB-AWARDEES ARE REQUIRED TO SUBMIT REPORTS WHICH ARE REVIEWED BY THE MIDDLEBURY'S GRANT ACCOUNTANT. ALL BILLINGS ARE REVIEWED AND APPROVED BY THE PRINCIPAL INVESTIGATOR AND GRANT ACCOUNTANT BEFORE BEING PAID. PART I, LINE 3: EXPENDITURES ARE RECORDED ON THE ACCRUAL BASIS OF ACCOUNTING. 1 UNIVERSITY OF SOUTHERN MAINE PO BOX 9300 PORTLAND ME 04104 016000769 501(C)(3) 27913 0 RESEARCH GRANT UNIVERSITY OF NEW HAMPSHIRE 51 COLLEGE RD RM 109 DURHAM NH 038243585 026000937 501(C)(3) 41230 0 RESEARCH GRANT ARIZONA STATE UNIVERSITY 660 SOUTH MILL AVENUE TEMPE AZ 852813670 860196696 501(C)(3) 79834 0 RESEARCH GRANT ITHRIVE GAMES 101 W MAIN STREET NORFOLK VA 23510 823846087 501(C)(3) 102676 0 RESEARCH GRANT TOWN OF MIDDLEBURY 77 MAIN STREET MIDDLEBURY VT 05753 TOWN-MIDDLEBURY 873649 0 TOWN BRIDGE PROJECT TOWN HALL THEATER 68 SOUTH PLEASANT STREET MIDDLEBURY VT 05753 262091573 501(C)(3) 47205 0 ANNUAL PLEDGE UNIVERSITY OF VERMONT 111 COLCHESTER AVE BURLINGTON VT 05401 396006492 501(C)(3) 58053 0 RESEARCH GRANT TAKE THIS 9805 NE 116TH ST SUITE 7411 KIRKLAND WA 98033 463882735 501(C)(3) 79263 0 RESEARCH GRANT LOGICALLY AI 2140 S DUPOND HIGHWAY CAMDEN DE 19934 371980308 190525 0 RESEARCH GRANT 8 1 FINANCIAL AID - SCHOLARSHIPS- REPORTED AS NON-CASH ASSISTANCE. THE ASSISTANCE IS TUITION OFFSET 2754 0 92264134 PART I, LINE 2: DISBURSEMENTS IN FURTHERANCE OF MIDDLEBURY'S EXEMPT PROGRAMS ARE MADE IN ACCORDANCE WITH PROCEDURES OR SUBJECT TO CONDITIONS ESTABLISHED BY MIDDLEBURY'S GOVERNING BOARD DESIGNED TO ENSURE THAT THE INDIVIDUALS RECEIVING DISBURSEMENTS FROM MIDDLEBURY ARE ADEQUATELY INVESTIGATED TO ENSURE THAT THEY ARE QUALIFYING RECIPIENTS. GRANT SUB-AWARDEES ARE REQUIRED TO SUBMIT UNIFORM GUIDANCE REPORTS WHICH ARE REVIEWED BY THE MIDDLEBURY'S GRANT ACCOUNTANT. ALL BILLINGS ARE REVIEWED AND APPROVED BY THE PRINCIPAL INVESTIGATOR AND GRANT ACCOUNTANT BEFORE BEING PAID. ALL FINANCIAL ASSISTANCE REPORTED IN SCHEDULE I, PART III IS IN THE FORM OF TUITION REDUCTION/OFFSETS TO ENSURE THAT FINANCIAL ASSISTANCE FUNDS ARE USED FOR THEIR INTENDED EDUCATIONAL PURPOSE. X 1 1 X X X X X X 0 0 0 0 0 0 0 1 1 1 LAURIE L PATTON PRESIDENT 595268 0 39099 0 24996 0 69300 0 43798 0 772461 0 0 0 DAVID PROVOST EVP FINANCE & ADMIN. 409931 0 0 0 3216 0 69300 0 36594 0 519041 0 0 0 DANIEL J COURCEY VP FOR ADVANCEMENT 380949 0 0 0 2831 0 56100 0 40125 0 480005 0 0 0 WILLIAM C POTTER DIRECTOR OF CNS 316784 0 0 0 10413 0 56100 0 16293 0 399590 0 0 0 HANNAH ROSS SEC. & GENERAL COUNSEL 273123 0 0 0 1146 0 65080 0 42451 0 381800 0 0 0 PHILIP GEIER EXEC, DIR. DAVIS UWC 267983 0 0 0 8771 0 62955 0 31799 0 371508 0 0 0 MARK PELUSO CHIEF HEALTH OFF & PHYSICIAN 257776 0 0 0 4574 0 49800 0 50975 0 363125 0 0 0 JEFF DAYTON-JOHNSON VP MIIS ACADEMIC AFFAIRS & DEAN 256808 0 0 0 4703 0 48757 0 46674 0 356942 0 0 0 SMITA RUZICKA VP STUDENT AFFAIRS 230440 0 0 0 17129 0 43685 0 24829 0 316083 0 0 0 MICHELLE MCCAULEY INTERIM PROVOST 236042 0 0 0 2784 0 56115 0 16901 0 311842 0 0 0 ALBERTO CITARELLA AVP FINANCE & ASST. TREAS. 215672 0 0 0 817 0 39185 0 5611 0 261285 0 0 0 SUSAN PARSONS RITTER ASSOCIATE SECRETARY 185172 0 0 0 2430 0 43088 0 18021 0 248711 0 0 0 PART I, LINE 1A: AS A CONDITION OF EMPLOYMENT MIDDLEBURY PROVIDES THE PRESIDENT, AN OFFICER, WITH A RESIDENCE FOR THE CONVENIENCE OF THE EMPLOYER. PART I, LINE 7: THE PRESIDENT'S COMPENSATION IS SET BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. ANY INCREASES SHALL BE WITHIN THE BOARD'S SOLE DISCRETION AND SHALL BE BASED UPON THE PRESIDENT'S PERFORMANCE, WHICH WILL BE REVIEWED YEARLY, PRIOR TO JUNE 30 BY THE CHAIR OF THE BOARD, WHO WILL MAKE A RECOMMENDATION TO THE COMPENSATION COMMITTEE FOR COMPENSATION. PART I, LINE 8: THE PRESIDENT'S EMPLOYMENT CONTRACT INCLUDES PROVISIONS GOVERNING THE FOLLOWING: TERM OF THE CONTRACT, RENEWAL/EXTENSION, DUTIES, COMPENSATION, BENEFITS/REIMBURSEMENTS, EVALUATION PROCESS OF THE PRESIDENT, TERMINATION, OFFICE AND RESIDENCE EXPENSES, AND SABBATICAL LEAVE. A VEHBFA (SERIES 2016) 237154467 924166HZ7 2016-08-05 36781621 REFUNDING (SERIES 2006A) 0 0 0 B VEHBFA (SERIES 2019) 237154467 924166KV2 2019-08-06 61208579 REFUNDING (SERIES 2009) 0 0 0 C VEHBFA (SERIES 2020) 237154467 924166LF6 2020-08-05 108108529 REFUNDING (SERIES 2010) 0 0 0 D VEHBFA (SERIES 2022) 237154467 NONEAVAIL 2022-08-23 61290000 REFUNDING (SERIES 2012A) AND $20 MILLION FOR CAPITAL EXPENDITURES 0 0 0 A 36781621 491120 36290501 2016 1 0 1 1 B 3960000 61208579 559132 60649547 2019 1 0 1 1 C 1430000 108108529 725819 107382710 2020 1 0 1 1 D 61290000 325000 20185875 40779124 2022 1 0 1 1 A 0 1 1 1 0 0 0 1 B 0 1 1 1 0 0 0 1 C 0 1 1 1 0 0 0 1 D 0 1 1 1 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, BOND ISSUES CONT'D: (A) ISSUER NAME: VEBFHA (SERIES 2023) (F) DESCRIPTION OF PURPOSE: SERIES 2023 ISSUED FOR CAPITAL EXPENDITURES ALL INFORMATION ON THE FORM 8038 IS CONSOLIDATED. PART IV, LINE 2B THE BOND PROCEEDS FOR EACH THE SERIES 2016, SERIES 2019, AND SERIES 2020 BOND SERIES WERE IMMEDIATELY EXPENDED TO REFUND THE PREVIOUS BOND ISSUES. CONSEQUENTLY, NO REBATE CALCULATION WAS REQUIRED. THE PROCEEDS OF SERIES 2023 BOND WERE SPENT WITHIN TWO YEARS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND QUALIFIED FOR AN EXCEPTION TO REBATE. PART IV, LINE 2C SERIES 2022 HAD A PORTION THAT WAS ALLOCATED TO CAPITAL EXPENDITURES. A VEBFHA (SERIES 2023) 237154467 924166LP4 2023-08-01 48335423 FUND RESIDENCE HALL CONSTRUCTION 0 0 0 A 48335423 581673 47753770 2025 0 0 1 1 A 0 1 1 1 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 SHALOM L GOLDMAN SPOUSE OF OFFICER 115319 EMPLOYEE 0 X 111 62371552 FMV X MISCELLANEOUS 32 157660 FMV 1 0 1 1 PART I, LINE 32B: MIDDLEBURY WILL SELL FROM TIME TO TIME NONCASH ITEMS, OTHER THAN SECURITIES, AT LOCAL AUCTION HOUSES. SCHEDULE M, PART I, COLUMN (B): WE ARE REPORTING THE NUMBER OF CONTRIBUTIONS BASED ON THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A MIDDLEBURY HAS AN EXECUTIVE COMMITTEE WHO HAS BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF TRUSTEES WHO ARE CURRENTLY SERVING ON THE GOVERNING BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTS THE FORM 990 TO THE AUDIT COMMITTEE FOR A DETAILED REVIEW. ONCE THE AUDIT COMMITTEE HAS COMPLETED THEIR REVIEW, MANAGEMENT PROVIDES THE RETURN TO THE FULL BOARD OF TRUSTEES. THE FULL BOARD RECEIVES THE FORM 990 BEFORE IT IS FILED WITH THE IRS. THE FORM 990 IS POSTED IN THE ELECTRONIC BOARD BOOK AND TRUSTEES ARE NOTIFIED WHEN THE RETURN IS AVAILABLE. THE ORGANIZATION HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF DONOR INFORMATION ON SCHEDULE B. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE ORGANIZATION HAS CHOSEN NOT TO DISCLOSE THE IDENTITIES AND ADDRESS OF ITS DONORS. FORM 990, PART VI, SECTION B, LINE 12C MIDDLEBURY HAS A WRITTEN CONFLICT OF INTEREST POLICY. EACH MEMBER OF THE BOARD OF TRUSTEES OR AN ADVISORY BOARD IS GIVEN THE WRITTEN POLICY AND IS REQUESTED TO REVIEW AND UNDERSTAND THE TERMS OF THE POLICY AND TO IMMEDIATELY DISCLOSE ANY POSSIBLE FINANCIAL, PERSONAL, FAMILIAL, OR BUSINESS RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT. EACH TRUSTEE COMPLETES AN ANNUAL DISCLOSURE FORM. THE DISCLOSURE FORMS ARE REVIEWED ANNUALLY BY MANAGEMENT AND THE AUDIT COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 MIDDLEBURY HAS A FORMAL COMPENSATION COMMITTEE WHO REVIEWS AND RECOMMENDS TO THE FULL BOARD THE COMPENSATION FOR THE TOP MANAGEMENT OFFICIALS. THE COMPENSATION COMMITTEE ORDINARILY CONSISTS OF THE CHAIR, VICE CHAIR, AND ONE TRUSTEE APPOINTED BY THE CHAIR. THE COMMITTEE ESTABLISHES GOALS FOR THE PRESIDENT AND THE ANNUAL PERFORMANCE APPRAISAL PROCESS. THE COMMITTEE REVIEWS AND SETS TOTAL COMPENSATION FOR THE PRESIDENT OF THE MIDDLEBURY AS WELL AS REVIEWS AND COMMENTS ON COMPENSATION AND CONTRACTS FOR OTHER SENIOR OFFICERS OF THE MIDDLEBURY. THE COMMITTEE IS AUTHORIZED TO ENGAGE LEGAL COUNSEL AND COMPENSATION CONSULTANTS AS APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 MIDDLEBURY HAS MADE ITS ANNUAL AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC BY POSTING THE STATEMENTS ON THE ITS WEBSITE. MIDDLEBURY WILL ALSO PROVIDE COPIES UPON REQUEST AND COPIES ARE AVAILABLE IN THE FINANCIAL OFFICES. THE CONFLICT OF INTEREST POLICY IS ALSO POSTED ON THE WEBSITE. MIDDLEBURY'S FORM 990 IS AVAILABLE THROUGH GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF DEFERRED GIFTS -2,665,427. DELINEATION CORPORATION CONTROLLERS OFFICE MIDDLEBURY VT 05753 237259519 TO RECEIVE OR PURCHASE REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF MC VT 501(C)(2) PRESIDENT AND FELLOWS OF MIDDLEBURY 1 GREEN MOUNTAIN HIGHER EDUCATION CONSORTIUM 120 GRAHAM WAY SHELBURNE VT 05482 901113280 PROMOTING THE EDUCATIONAL PURPOSE AND CONSOLIDATING SERVICES VT 501(C)(3) LINE 10 0 CHARITABLE REMAINDER TRUST (6) MIDDLEBURY COLLEGE MIDDLEBURY VT 05753 INVESTMENT SUPPORT VT PRESIDENTS AND FELLOWS OF MIDDLEBURY T 1 CHARITABLE LEAD TRUST (2) MIDDLEBURY COLLEGE MIDDLEBURY VT 05753 INVESTMENT SUPPORT VT PRESIDENTS AND FELLOWS OF MIDDLEBURY T 1 POOLED INCOME FUND (1) MIDDLEBURY COLLEGE MIDDLEBURY VT 05753 INVESTMENT SUPPORT VT PRESIDENTS AND FELLOWS OF MIDDLEBURY T 1 LIFE INCOME FUND (1) MIDDLEBURY COLLEGE MIDDLEBURY VT 05753 INVESTMENT SUPPORT VT PRESIDENTS AND FELLOWS OF MIDDLEBURY T 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 DELINEATION CORPORATION D 35030780 FMV DELINEATION CORPORATION P 64178 FMV DELINEATION CORPORATION Q 97214 FMV POOLED INCOME FUND S 53576 FMV PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS: NAME OF RELATED ORGANIZATION: DELINEATION CORPORATION DIRECT CONTROLLING ENTITY: PRESIDENT AND FELLOWS OF MIDDLEBURY COLLEGE SCHEDULE R; PART IV; COLUMN C LEGAL DOMICILE: CHARITABLE REMAINDER TRUSTS INCLUDE VERMONT AND MASSACHUSETTS CHARITABLE LEAD TRUSTS INCLUDE VERMONT AND DISTRICT OF COLUMBIA