2022-05-10T08:07:08-05:00 2021-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2020-07-01 042104329 SPRINGFIELD COLLEGE SPRI 4137483145 263 ALDEN STREET SPRINGFIELD MA 01109 MARY-BETH COOPER PRESIDENT 4137483145 2022-05-05 1 MARY-BETH COOPER 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 9592007000 2022-04-20 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MARY-BETH COOPER 263 ALDEN STREET SPRINGFIELD MA 01109 187532640 0 X WWW.SPRINGFIELD.EDU X 1890 MA THE MISSION OF SPRINGFIELD COLLEGE IS TO EDUCATE STUDENTS IN SPIRIT, MIND AND BODY FOR LEADERSHIP IN SERVICE TO OTHERS BY BUILDING ON A FOUNDATION OF THE COLLEGE'S HUMANICS PHILOSOPHY, ACADEMIC EXCELLENCE, SERVICE, AND STUDENT SUCCESS. SPRINGFIELD COLLEGE IS A PRIVATE, COEDUCATIONAL INSTITUTION OFFERING BACHELOR, MASTER, AND DOCTORAL DEGREES. 32 30 2509 300 -61759 0 15189123 15942743 139973610 137447966 4344523 8752176 90562 223985 159597818 162366870 57656713 58947206 0 0 64577078 57489143 0 28500 2226495 40441081 38186196 162674872 154651045 -3077054 7715825 248405282 272289187 87057055 81848343 161348227 190440844 X THE MISSION OF SPRINGFIELD COLLEGE IS TO EDUCATE STUDENTS IN SPIRIT, MIND AND BODY FOR LEADERSHIP IN SERVICE TO OTHERS BY BUILDING ON A FOUNDATION OF THE COLLEGE'S HUMANICS PHILOSOPHY, ACADEMIC EXCELLENCE, SERVICE, AND STUDENT SUCCESS. SPRINGFIELD COLLEGE IS A PRIVATE, COEDUCATIONAL INSTITUTION OFFERING BACHELOR, MASTER, AND DOCTORAL DEGREES. 0 0 145546946 58947206 137447966 THE COLLEGE EMPHASIZES THE EDUCATION OF LEADERS FOR APPROXIMATELY 45 UNDERGRADUATE MAJORS AND 11 GRADUATE PROGRAMS IN HEALTH SERVICES, HUMAN AND SOCIAL SERVICES, HUMAN PERFORMANCE AND SPORT STUDIES, AND THE ARTS AND SCIENCES, INCLUDING DOCTORAL DEGREES IN PHYSICAL EDUCATION, PHYSICAL THERAPY AND COUNSELING PSYCHOLOGY. 145546946 1 0 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 4993 0 1 2509 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 MA NY X X TANYA SEARS CONTROLLER 4137483145 263 ALDEN STREET SPRINGFIELD MA 01109 X JAMES H ROSS III CHAIR 0.50 X X 0 0 0 WILLIAM A BURKE III VICE CHAIR 0.50 X X 0 0 0 DENISE ALLEYNE TRUSTEE 0.50 X 0 0 0 KURT ASCHERMANN TRUSTEE 0.50 X 0 0 0 BRIDGET BELGIOVINE TRUSTEE 0.50 X 0 0 0 RAYMOND L BERRY TRUSTEE 0.50 X 0 0 0 DOUGLASS L COUPE TRUSTEE 0.50 X 0 0 0 JOHN L DOLEVA TRUSTEE 0.50 X 0 0 0 CHARISSE F DUROURE TRUSTEE 0.50 X 0 0 0 MARK A ELGART TRUSTEE 0.50 X 0 0 0 LISA B EMIRZIAN TRUSTEE 0.50 X 0 0 0 PIA DENISE FLANAGAN TRUSTEE 0.50 X 0 0 0 JENI ELLIS HALLIDAY TRUSTEE 0.50 X 0 0 0 MARYLYNN A JACOBS TRUSTEE 0.50 X 0 0 0 SUSAN E LUNDIN TRUSTEE 0.50 X 0 0 0 THOMAS MARKS TRUSTEE 0.50 X 0 0 0 STEPHEN W MCCARTHY TRUSTEE 0.50 X 0 0 0 MICHELE A MEGAS-DITOMASSI TRUSTEE 0.50 X 0 0 0 LINDA C MOFFAT TRUSTEE 0.50 X 0 0 0 JOHN A ODIERNA TRUSTEE 0.50 X 0 0 0 PETER J PAPPAS TRUSTEE 0.50 X 0 0 0 HOWARD A PULSIFER TRUSTEE 0.50 X 0 0 0 SUZANNE ROBOTTI TRUSTEE 0.50 X 0 0 0 ANTHONY L SARAGE TRUSTEE 0.50 X 0 0 0 MARENDA BROWN STITZER TRUSTEE 0.50 X 0 0 0 ROBERT M SULLIVAN JR TRUSTEE 0.50 X 0 0 0 GREGORY C TOCZYDLOWSKI TRUSTEE 0.50 X 0 0 0 JOHN H WALKER TRUSTEE 0.50 X 0 0 0 KEVIN WASHINGTON TRUSTEE 0.50 X 0 0 0 LAUREN WINN YOUMANS TRUSTEE 0.50 X 0 0 0 KRISTIAN Z RHIM STUDENT TRUSTEE 0.50 X 286 0 0 MARY-BETH A COOPER PRESIDENT 40.00 X X 536023 0 80051 JOHN L MAILHOT VP FOR FINANCE & ADMIN/TRE 40.00 X 244974 0 39761 LINDA K MORGAN VP AND GENERAL COUNSEL/SEC 40.00 X 205405 0 18022 BROOKE HALLOWELL DEAN OF HEALTH SCIENCES & 40.00 X 173405 0 22836 CALVIN R HILL VP FOR INCLUSION AND COMMU 40.00 X 161491 0 16227 STUART D JONES VP FOR ENROLLMENT MANAGEME 40.00 X 193170 0 28105 PATRICK G LOVE INTERIM VP FOR STUDENT AFF 40.00 X 211135 0 26281 KATHLEEN A MARTIN CHIEF OF STAFF 40.00 X 172985 0 28809 MARTHA A POTVIN VP FOR ACADEMIC AFFAIRS/PR 40.00 X 237387 0 36826 JULIE TYSON CONSIDINE SR. ASSOCIATE VP AND DIRECTOR OF DEVELOPMENT 40.00 X 171647 0 45452 MARY ANN COUGHLIN SR. ASSOCIATE VP OF ACADEM 40.00 X 167931 0 23889 JAMES D HARNSBERGER ASSOCIATE VP GRADUATE EDUC 40.00 X 151171 0 17142 MARY SUSAN GUYER DEAN, SCHOOL OF PHYS ED., PERF, SPORTS LDRSHIP 40.00 X 144881 0 22913 ANTHONY MUTTI CHIEF INFORMATION OFFICER 40.00 X 155894 0 10385 JOHN A WHITE EXECUTIVE DIRECTOR FOR CORPORATE PARTNERSHIPS 40.00 X 121731 0 115586 3049516 0 532285 67 1 1 0 HARVEST TABLE 2400 MARKET STREET PHILADELPHIA PA 19103 DINING SERVICES 3345313 ARAMARK CORPORATION 263 ALDEN STREET SPRINGFIELD MA 01109 DINING SERVICES 2192254 SLAM COLLABORATIVE INC 80 GLASTONBURY BOULEVARD GLASTONBURY CT 06033 ARCHITECT 607231 CARNEGIE DARTLET LLC 210 LITTLETON ROAD SUITE 100 WESTFORD MA 01886 MARKETING 528654 ADP INC ONE ADP PLAZA MILFORD CT 06461 PAYROLL SERVICES 479217 15 4100 26150 11227915 4684578 464152 15942743 STUDENT TUITION & FEES 611310 118304443 118304443 SALES/SERVICE AUXILIARY ENTERPRIS 611310 18135164 18135164 OTHER PROGRAM 611310 928381 928381 SALES/SERVICES EDUCATIONAL DEPART 611310 79978 79978 137447966 3592354 -61759 3654113 228280 0 228280 228280 228280 30232243 73724 25042552 103593 5189691 -29869 5159822 5159822 15330 26150 19625 -4295 -4295 162366870 137447966 -61759 9037920 58947206 58947206 2152123 1670627 338942 142554 42598388 39046158 2387626 1164604 2238461 2047955 116497 74009 6979486 6355198 393154 231134 3520685 3201278 213970 105437 42633 42633 112005 112005 28500 28500 349956 349956 1861673 1570003 286434 5236 698013 690640 7373 7864605 7161710 506758 196137 1993629 1474487 502187 16955 5497976 5217178 266757 14041 171287 164873 5049 1365 1980681 1782613 188165 9903 8285133 7456620 787087 41426 1057588 701495 356093 AUXILIARY ENTERPRISES 6597372 6562567 34497 308 MISCELLANEOUS EXPENSES 585846 282488 300914 2444 BAD DEBTS 571867 347962 31463 192442 ATHLETICS 515932 515932 154651045 145546946 6877604 2226495 3527593 7527337 276181 704045 1946819 2717640 3364225 3870528 1000 500 2216136 1708890 374844 325431 3517750 3251631 273090220 155579783 122514572 117510437 105263616 124989398 5402546 9683350 248405282 272289187 9841325 8657427 3255003 2739309 6014431 5627664 63200745 60323292 4745551 4500651 87057055 81848343 X 91822350 99968519 69525877 90472325 161348227 190440844 248405282 272289187 X 7715825 20710967 665825 X X 0 1 X 1 1 1 X 12578960 12950496 10407811 15189123 15942743 67069133 12578960 12950496 10407811 15189123 15942743 67069133 67069133 2581986 3126291 4914378 3682122 3882393 18187170 59242 85508 29900 68611 15330 258591 85514894 715401740 0.78430 0.78540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING - 2016 AMOUNT: $ 59,242. 2017 AMOUNT: $ 85,508. 2018 AMOUNT: $ 29,900. 2019 AMOUNT: $ 68,611. 2020 AMOUNT: $ 15,330. 0 0 0 0 0 0 0 1 0 0 0 PART II-B, LINE 1: SCHEDULE C, PART II-B, LINE 1 - THE COLLEGE HOSTED A LEGISLATIVE BREAKFAST WITH LOCAL LEGISLATORS AND AIDES IN MARCH 2021 AS AN EDUCATIONAL OPPORTUNITY TO UPDATE ATTENDEES OF CURRENT EVENTS ON CAMPUS, INCLUDING PLANS FOR NEW BUILDINGS AND PROGRAMS, AS WELL AS DISCUSSIONS ON ISSUES THAT AFFECT THE INSTITUTION. THIS YEAR'S BREAKFAST WAS A VIRTUAL EVENT AND HAD NO ASSOCIATED EXPENSES. 119650 X X 0 80802489 1170629 26595860 3463121 105105857 79000432 5236284 -120315 3313912 80802489 76969392 1885641 3289934 3144535 79000432 71422251 3490979 4802715 2746553 76969392 61137906 4716855 8399090 2831600 71422251 0.22700 0.38700 0.38600 0 0 5602430 5602430 104010610 39470439 64540171 105170378 64951470 40218908 50116280 44387857 5728423 8190522 6770017 1420505 117510437 ACCOUNTS HELD FOR OTHERS 406913 ASSET RETIREMENT OBLIGATIONS 1691236 CAPITAL LEASE OBLIGATIONS 220240 TAXABLE DEBT 2182262 4500651 X 126175941 20710967 -56551940 -35840973 162016914 349956 349956 162366870 97083324 0 97083324 349956 57217765 57567721 154651045 PART III, LINE 4: ART WORK WAS DONATED IN 1978. WORKS ARE ON DISPLAY TO THE PUBLIC IN VARIOUS LOCATIONS ON THE MAIN CAMPUS AND ARE PRESERVED FOR FUTURE USE. PART V, LINE 4: BOARD DESIGNATED FUNDS ARE TO BE USED AS NEEDED TO FUND SCHOLARSHIPS, CAPITAL EXPENDITURES, GENERAL EXPENDITURES AND PROVIDE PROGRAM SUPPORT. PERMANENT ENDOWED FUNDS ARE TO BE RETAINED PERMANENTLY ACCORDING TO DONOR STIPULATION OR MAUPMIFA. DONOR RESTRICTED ENDOWED FUNDS ARE TO BE USED ACCORDING TO DONOR STIPULATIONS. PART X, LINE 2: THE COLLEGE HAS BEEN GRANTED TAX-EXEMPT STATUS UNDER THE INTERNAL REVENUE CODE SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND, ACCORDINGLY, DOES NOT PROVIDE FOR INCOME TAXES. HOWEVER, THE COLLEGE IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES RELATED TO OTHER PROGRAM INCOME AND SUCH TAXES ARE INCLUDED IN MANAGEMENT AND GENERAL EXPENSES IN THE STATEMENTS OF ACTIVITIES. THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS AT JUNE 30, 2021 OR 2020. THE COLLEGE'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2018 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SWAP 665,825. FINANCIAL AID TO STUDENTS -58,947,206. OTHER (CARES ACT STUDENT PORTION) 1,729,441. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS 58,947,206. OTHER (CARES ACT STUDENT PORTION) -1,729,441. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SPRINGFIELD COLLEGE PUBLISHES A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY IN A NEWSPAPER OF GENERAL CIRCULATION THAT SERVES ALL RACIAL SEGMENTS OF ITS COMMUNITY. THE POLICY STATES "SPRINGFIELD COLLEGE DOES NOT DISCRIMINATE AGAINST ANY PERSONS BASED ON RACE, COLOR, RELIGION, NATIONAL OR ETHNIC ORIGIN, AGE, SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR EXPRESSION, DISABILITY, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED BASIS IN ADMISSION AND ACCESS TO, AND EMPLOYMENT AND TREATMENT, IN ITS PROGRAMS AND ACTIVITIES." IN ADDITION, THE POLICY IS PUBLISHED IN THE COLLEGE'S STUDENT HANDBOOK, CATALOGS AND WEBSITE, AND ON VARIOUS RECRUITMENT AND INFORMATIONAL MATERIALS. SCHEDULE E, PART I, LINE 6 THE COLLEGE AND ITS STUDENTS PARTICIPATE IN THE FOLLOWING FEDERAL FUNDED PROGRAMS: FEDERAL PELL GRANT, FEDERAL PERKINS LOAN, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK STUDY AND FEDERAL DIRECT LOAN PROGRAM. ADDITIONALLY, THE STUDENTS PARTICIPATE IN VARIOUS STATE AWARD AND LOAN PROGRAMS. EAST ASIA AND THE PACIFIC PROGRAM SERVICES EDUCATIONAL/RESEARCH 2995 EUROPE (INCLUDING ICELAND AND GREENLAND PROGRAM SERVICES EDUCATIONAL/RESEARCH 9612 SUB-SAHARAN AFRICA PROGRAM SERVICES EDUCATIONAL/RESEARCH 3294 RUSSIA AND THE NEWLY INDEPENDENT PROGRAM SERVICES EDUCATIONAL/RESEARCH 3819 SOUTH ASIA PROGRAM SERVICES EDUCATIONAL/RESEARCH 410 0 0 0 0 0 0 20130 0 20130 0 0 0 0 0 1 PART I, LINE 2: SPRINGFIELD COLLEGE HAS AGREEMENTS WITH ORGANIZATIONS PROVIDING PROGRAM SERVICES TO ENSURE PROPER USE OF EDUCATIONAL AND RESEARCH GRANTS. PART I, LINE 3: THE AMOUNTS REPORTED IN COLUMN (F), TOTAL EXPENDITURES FOR EDUCATION AND RESEARCH, REPRESENT OTHER FOREIGN ACTIVITY EXPENSES IDENTIFIABLE BY REGION AND ACTIVITY IN THE COLLEGE'S ACCOUNTING SYSTEM. PART III ACCOUNTING METHOD: X X X X X X X 1 GONSER GERBER LLP 1776 LEGACY CIRCLE SUITE 100 NAPERVILLE IL 60563 DEVELOPMENT PROGRAM & ADVANCEMENT SERVICES ASSESSMENT 0 0 28500 0 28500 CA DE FL MA TX VT WI ATHLETICS GOLF TOURNAMENT 41480 26150 15330 3778 11854 3044 949 41480 26150 15330 3778 11854 3044 949 19625 -4295 1 FINANCIAL AID AND SCHOLARSHIP FUNDS 3928 58947206 SCHEDULE I, PART I, LINE 2 THE COLLEGE OFFERS FINANCIAL AID TO ASSIST STUDENTS ON THE BASIS OF FULL-TIME ENROLLMENT. FACTORS INFLUENCING THE AMOUNT AND TYPE OF AID AWARDED INCLUDE FINANCIAL NEED, ACADEMIC ACHIEVEMENT, LEADERSHIP AND OTHER PERSONAL QUALITATIVE ATTRIBUTES. THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), WHICH HELPS TO ESTABLISH A STUDENT'S FINANCIAL NEED, SERVES AS THE APPLICATION FOR FINANCIAL AID. FILES DETAILING GRANT AND SCHOLARSHIP REQUIREMENTS AND CRITERIA ARE REVIEWED TO ENSURE INDIVIDUAL STUDENT ELIGIBILITY BEFORE AWARDS ARE MADE. THE COLLEGE DOES NOT DISCRIMINATE AGAINST ANY PERSON ON THE BASIS OF RACE, COLOR, RELIGION, NATIONAL OR ETHNIC ORIGIN, AGE, SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR EXPRESSION, DISABILITY, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED BASIS. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MARY-BETH A COOPER PRESIDENT 534399 0 0 0 1624 0 25650 0 54798 0 616471 0 0 0 JOHN L MAILHOT VP FOR FINANCE & ADMIN/TRE 244066 0 0 0 908 0 20746 0 19369 0 285089 0 0 0 MARTHA A POTVIN VP FOR ACADEMIC AFFAIRS/PR 235776 0 0 0 1611 0 21658 0 15422 0 274467 0 0 0 PATRICK G LOVE INTERIM VP FOR STUDENT AFF 209864 0 0 0 1271 0 19097 0 7516 0 237748 0 0 0 JOHN A WHITE EXECUTIVE DIRECTOR FOR CORPORATE PAR 121507 0 0 0 224 0 11901 0 103898 0 237530 0 0 0 LINDA K MORGAN VP AND GENERAL COUNSEL/SEC 204609 0 0 0 796 0 16477 0 1840 0 223722 0 0 0 STUART D JONES VP FOR ENROLLMENT MANAGEME 191922 0 0 0 1248 0 17664 0 10751 0 221585 0 0 0 JULIE TYSON CONSIDINE SR. ASSOCIATE VP AND DIRECTOR OF DEV 171281 0 0 0 366 0 16676 0 29064 0 217387 0 0 0 KATHLEEN A MARTIN CHIEF OF STAFF 172784 0 0 0 201 0 16438 0 12371 0 201794 0 0 0 BROOKE HALLOWELL DEAN OF HEALTH SCIENCES & 172778 0 0 0 627 0 14342 0 8768 0 196515 0 0 0 MARY ANN COUGHLIN SR. ASSOCIATE VP OF ACADEM 166691 0 0 0 1240 0 15231 0 8896 0 192058 0 0 0 CALVIN R HILL VP FOR INCLUSION AND COMMU 161189 0 0 0 302 0 14649 0 1839 0 177979 0 0 0 JAMES D HARNSBERGER ASSOCIATE VP GRADUATE EDUC 150899 0 0 0 272 0 11623 0 5743 0 168537 0 0 0 MARY SUSAN GUYER DEAN, SCHOOL OF PHYS ED., PERF, SPOR 144524 0 0 0 357 0 13322 0 9737 0 167940 0 0 0 ANTHONY MUTTI CHIEF INFORMATION OFFICER 155769 0 0 0 125 0 10385 0 221 0 166500 0 0 0 PART I, LINE 1A AS APPROVED BY THE BOARD OF TRUSTEES, HOUSING AND RELATED HOUSE CLEANING SERVICES ARE PROVIDED FOR THE PRESIDENT OF THE COLLEGE AS A CONDITION OF EMPLOYMENT TO ALLOW THE PRESIDENT TO MORE EFFECTIVELY FULFILL HER DUTIES. HOUSING PROVIDED IS COLLEGE-OWNED AND IS LOCATED ON THE MAIN CAMPUS. IN ADDITION, THE COLLEGE PAYS FOR COMPANION TRAVEL FOR THE PRESIDENT'S SPOUSE WHEN THE PRESENCE OF HER SPOUSE IS APPROPRIATE TO FURTHER THE INTERESTS OF THE COLLEGE, AND REIMBURSES THE PRESIDENT FOR REASONABLE EXPENSES INCURRED FOR PROFESSIONAL AND COMMUNITY ACTIVITIES, INCLUDING MEMBERSHIP IN PROFESSIONAL AND/OR COMMUNITY ORGANIZATIONS, AND PROVIDES A MEMBERSHIP FOR A SOCIAL CLUB TO BE USED FOR COLLEGE RELATED BUSINESS PURPOSES. A MDFA REVENUE BONDS 2012 042104329 2012-11-08 10315000 PRIVATE PLACEMENT REFINANCING OF OUTSTANDING DEBT 0 0 0 B MDFA REVENUE BONDS 2016 042104329 2016-06-23 63125000 REFINANCE AND CONSTRUCTION 0 0 0 A 3424171 10315000 178170 10136830 2012 0 1 1 1 B 9550144 63210360 738512 14955635 47516213 2018 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 1 1 UNIBANK 15.000000000000 0 0 0 0 1 A 0 B 0 SCHEDULE K, PART I THE MASS DEVELOPMENT FINANCE AGENCY REVENUE BONDS 2012 CONSIST OF TAX-EXEMPT BONDS OF $10,315,000 AND TAXABLE BONDS OF $3,505,000. THE INFORMATION PROVIDED IN PART I THROUGH PART V, COLUMN A IS BASED ON THE TAX-EXEMPT PORTION OF THE BOND ISSUE. SCHEDULE K, PART II, LINE 4 THE GROSS PROCEEDS OF THE MASS DEVELOPMENT FINANCE AGENCY REVENUE BONDS 2016 CONSIST OF BOND PROCEEDS OF $63,125,000 AND INVESTMENT INCOME OF $85,360 ACCRUED DURING THE PROJECT PERIOD. SCHEDULE K, PART II LINE 11 OTHER SPENT PROCEEDS WERE USED TO REFINANCE PRIOR BONDS. SCHEDULE K, PART IV, LINE 2C (2012 BOND) THE COLLEGE CONTRACTS WITH A THIRD-PARTY CONSULTANT TO PROVIDE AN ANNUAL ARBITRAGE REBATE CALCULATION FOR THE COLLEGE'S TAX-EXEMPT BONDS. PER THE CALCULATION, THE COLLEGE CURRENTLY HAS NO REBATE LIABILITY. STUART JONES KEY EMPLOYEE EMPLOYEE NEIGHBORHOOD X 2500 500 0 0 1 500 SCHEDULE L, PART II THE COLLEGE HAS AN EMPLOYEE NEIGHBORHOOD HOMEOWNERSHIP PROGRAM TO ASSIST EMPLOYEES IN BUYING HOUSES FOR THEIR PRIMARY RESIDENCES WITHIN THE NEIGHBORHOODS SURROUNDING CAMPUS. ALL FULL-TIME EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE PROGRAM, WHICH PROVIDES A MATCHING DOWN PAYMENT, UP TO A MAXIMUM OF $5,000, AND SUBSEQUENT DEBT FORGIVENESS AMORTIZED OVER FIVE YEARS, BASED ON CONTINUED EMPLOYMENT WITH THE COLLEGE. X 22 464127 FAIR MARKET VALUE X OTHER 25 25 ESTIMATED VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B IRS FORM 990 IS PREPARED BY THE CONTROLLER AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. THE FORM 990 AND ACCOMPANYING SCHEDULES, ALONG WITH RELEVANT SUPPORTING MATERIALS, ARE SUBSEQUENTLY REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. THE FORM 990 IS THEN PROVIDED TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW, DISCUSSION AND APPROVAL. THE COMPLETED AND APPROVED FORM 990 IS THEN MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS FOR BOARD OF TRUSTEE MEMBERS, OFFICERS AND DESIGNATED EMPLOYEES ARE COMPLETED ANNUALLY AND ARE REVIEWED BY INTERNAL AUDIT PERSONNEL, LEGAL COUNSEL AND THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES. STATEMENTS ARE FILED IN THE OFFICE OF THE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 14: SPRINGFIELD COLLEGE HAS A RECORD RETENTION POLICY; HOWEVER THE POLICY WAS NOT APPROVED BY THE BOARD OF TRUSTEES AS OF JUNE 30, 2021. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S OVERALL COMPENSATION PACKAGE IN COMPARISON TO INDUSTRY STANDARDS AND PEER INSTITUTIONS. OFFICERS AND KEY EMPLOYEES' SALARIES ARE DETERMINED BY THE PRESIDENT, USING EXTERNAL BENCH-MARKING AND WITHIN BUDGET CONSTRAINTS ESTABLISHED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A: BOARD MEMBERS ARE NOT COMPENSATED FOR THEIR BOARD SERVICE, BUT MAY RECEIVE COMPENSATION FOR OTHER SERVICES, SUCH AS FACULTY, ADJUNCT OR STUDENT EMPLOYMENT. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 665,825. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT. HICKORY STREET DEVELOPMENT LLC 263 ALDEN STREET SPRINGFIELD MA 01109 261851011 REAL ESTATE HOLDING COMPANY MA 0 0 SPRINGFIELD COLLEGE