2022-05-13T10:47:39-05:00 2021-06-30 161131146 BONADIO & CO LLP 432 NORTH FRANKLIN STREET SYRACUSE NY 13204 990 2020-07-01 150532276 WELLS COLLEGE WELL 3153643317 170 MAIN STREET AURORA NY 130269747 ROBERT CREE VICE PRESIDENT AND CHIEF FINAN 3153643317 2022-05-13 1 ROBERT CREE 999009999 TIMOTHY HAMMOND P01224809 3154227109 2022-05-13 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JONATHAN GIBRALTER 170 MAIN STREET AURORA NY 130269747 29696052 0 X HTTPS://WWW.WELLS.EDU/ X 1868 NY EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. THROUGH WELLS' ACADEMIC PROGRAM, RESIDENTIAL ATMOSPHERE, AND COMMUNITY ACTIVITIES, STUDENTS LEARN AND PRACTICE THE IDEALS OF THE LIBERAL ARTS. THE WELLS EXPERIENCE PREPARES STUDENTS TO APPRECIATE COMPLEXITY AND DIFFERENCE, TO EMBRACE NEW WAYS OF KNOWING, TO BE CREATIVE, AND TO RESPOND ETHICALLY TO THE INTERDEPENDENT WORLDS TO WHICH THEY BELONG. COMMITTED TO EXCELLENCE IN ALL AREAS OF ITS REACH, WELLS COLLEGE EQUIPS STUDENTS FOR LIFELONG LEARNING AND FOR SHARING THE PRIVILEGES OF EDUCATION WITH OTHERS. 20 19 521 19 0 0 9321179 6477953 20005393 14307718 1991625 2592813 483054 219828 31801251 23598312 7841296 6908363 0 0 9831988 9390097 0 0 405616 11616506 10244472 29289790 26542932 2511461 -2944620 74526050 79137888 8133825 8939178 66392225 70198710 TO EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. 0 0 20148693 6908363 14400307 HIGHER EDUCATION - INSTRUCTIONAL COSTS INCLUDING SALARY AND BENEFITS FOR FACULTY AND EXPENSES ASSOCIATED WITH MAINTAINING EDUCATIONAL DEPARTMENTS. ALL PROGRAM EXPENSES ARE INCURRED TO FURTHER THE EDUCATION OF THE STUDENTS. THE COLLEGE SERVED 322 FULL TIME EQUIVALENT STUDENTS DURING THE YEAR. 20148693 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 53 0 1 521 1 0 1 IT 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X ROBERT CREE 3153643317 170 MAIN STREET AURORA NY 130269747 KARA T REYNOLDS TRUSTEE 1.00 X 0 0 0 JONATHAN GIBRALTER PRESIDENT 35.00 X X 337504 0 8192 FIONA MORGAN FEIN TRUSTEE 1.00 X 0 0 0 J RANDOLPH KISSELL TRUSTEE 1.00 X 0 0 0 VICKI KELLER PANHUISE TRUSTEE 1.00 X 0 0 0 KATHRYN L FONG TRUSTEE 1.00 X 0 0 0 BENTLEY GORDON TRUSTEE 1.00 X 0 0 0 STEPHEN L ZABRISKIE TRUSTEE 1.00 X 0 0 0 MARY K PASTORE CRYAN TRUSTEE 1.00 X 0 0 0 RENEE FORGENSI MINARIK VICE CHAIR 1.00 X X 0 0 0 JOANNE E KELLEY TRUSTEE 1.00 X 0 0 0 AMY CERAND MCNAUGHTON TRUSTEE 1.00 X 0 0 0 HEATHER T KOWALSKI TRUSTEE 1.00 X 0 0 0 LISA MAZZOLA CANIA SECRETARY 1.00 X X 0 0 0 KAREN FRANKEL BLUM TRUSTEE 1.00 X 0 0 0 THOMAS B COURTICE TRUSTEE 1.00 X 0 0 0 MARIE CHAPMAN CARROLL CHAIR 1.00 X X 0 0 0 GAIL M PESYNA TRUSTEE 1.00 X 0 0 0 DORTHEA L SAWICKI TRUSTEE 1.00 X 0 0 0 JOSEPH ANDRE TOLLIVER TRUSTEE 1.00 X 0 0 0 GERARD TURBIDE VP FOR ENROLLMENT SERVICES 35.00 X 154000 0 3990 LAWRENCE JEROME VP FOR ADVANCEMENT 35.00 X 150000 0 6323 CINDY SPEAKER PROVOST AND DEAN OF THE COLLEGE 35.00 X 136829 0 13357 CARL SGRECCI VP AND CFO 35.00 X 118654 0 3206 ROBERT CREE VP AND CFO 35.00 X 0 0 0 CHARLES KENYON DEAN OF STUDENTS 35.00 X 62632 0 1562 959619 0 36630 5 0 1 0 HALLMARK MANAGEMENT SERVICE INC 170 MAIN STREET AURORA NY 13026 FOOD SERVICE 1350833 3ENROLLMENT MARKETING INC 352 MAIN STREET ONEONTA NY 13820 STUDENT SEARCH SERVICES 651282 BOND SCHOENECK & KING PLLC PO BOX 11607 SYRACUSE NY 13218 LEGAL SERVICES 246816 CAYUGA MEDICAL CENTER AT ITHACA 101 DATED DRIVE ITHACA NY 14850 COVID-19 TESTING 155415 4 1729914 4748039 1312488 6477953 TUITION & FEES 611600 14238250 14238250 AUXILIARY ENTERPRISES 611710 69468 69468 14307718 636761 636761 94324 0 94324 94324 94324 7958402 6002350 1956052 1956052 1956052 128305 95390 32915 32915 OTHER REVENUE 611600 92589 92589 92589 23598312 14400307 0 2720052 6908363 6908363 1127662 457518 510379 159765 6965184 5316092 1467420 181672 107364 82859 22425 2080 479017 336212 127251 15554 710870 496913 183060 30897 204361 204361 94875 94875 63284 63284 1533354 721815 811539 1113160 1052545 60615 688736 292736 382952 13048 823517 260536 562981 865522 655138 210384 62977 54628 8349 26094 12345 13749 182941 182941 1748434 1267356 481078 -1044 -1044 MEALS AND ENTERTAINMENT 1420322 1402222 18100 MISCELLANEOUS 532685 521525 11160 STUDY ABROAD 238208 30609 207599 DUES & SUBSCRIPTIONS 200315 75065 122927 2323 446731 204216 242238 277 26542932 20148693 5988623 405616 3897508 5465797 10008 5864510 2213922 2217822 883122 474905 153006 129652 84142 38084 71061245 43430904 29474286 27630341 33931399 29040749 2899237 7219352 292041 219998 687379 836678 74526050 79137888 873829 984524 258746 156217 6002342 5835991 1000000 998908 962446 8133825 8939178 X 23750519 24518776 42641706 45679934 66392225 70198710 74526050 79137888 X -2944620 4613837 2137268 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27521760 583414 6827791 1747000 33185965 27331124 937147 1083517 1830028 27521760 25913573 1324695 1854856 1762000 27331124 24736944 791228 2047401 1662000 25913573 22979387 813576 2656981 1713000 24736944 0.04820 0.95180 0 0 779027 779027 55096253 34959668 20136585 8163856 2150636 6013220 6994324 6320600 673724 27785 27785 27630341 AEW CORE PROPERTY TRUST (U.S.), INC. 3051913 F TIAA TRADITIONAL ANNUITY 95500 F DRIEHAUS EMERGING MARKETS FUND, LP 4071939 F 7219352 REFUNDABLE GOVERNMENT LOAN FUNDS 300646 CHARITABLE GIFT ANNUITIES 94082 CONDITIONAL ASSET RETIREMENT OBLIGATION 567718 962446 23910340 4613837 2137268 6751105 17159235 63284 6375793 6439077 23598312 20103855 95390 95390 20008465 63284 6471183 6534467 26542932 PART V, LINE 4: THE COLLEGE'S PRIMARY INVESTMENT OBJECTIVE FOR THE ENDOWMENT ASSETS IS TO PROVIDE SUPPORT FOR THE COLLEGE'S MISSION OVER THE LONG TERM. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 109,079. CHANGE IN VALUE OF FUNDS HELD BY OTHERS 150,714. PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS 1,877,475. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 6,471,183. COST OF GOODS SOLD -95,390. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 95,390. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 6,471,183. 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 COLLEGE'S RACIALLY NONDISCRIMINATORY POLICY HAS BEEN PUBLISHED IN STUDENT BROCHURES, STUDENT HANDBOOK, EMPLOYEE HANDBOOK, AND ORIENTATION MATERIALS. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID AND GOVERNMENT GRANTS FOR RESEARCH AND DEVELOPMENT OF PROFESSORS IN THE EDUCATION FIELDS. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 3 PROGRAM SERVICES STUDY ABROAD PROGRAM 27000 1 3 0 0 1 3 27000 0 27000 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 WELLS GRANT 355 6391302 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS 118 79811 HIGHER EDUCATION EMERGENCY RELIEF FUND 369 437180 PART I, LINE 2: APPLICATIONS ARE RECEIVED AND GRANTS ARE AWARDED FOR NEED BASED ELIGIBLE STUDENTS AND FOR ACADEMIC PERFORMANCE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JONATHAN GIBRALTER PRESIDENT 299944 0 18136 0 19424 0 7952 0 240 0 345696 0 0 0 GERARD TURBIDE VP FOR ENROLLMENT SERVICES 150000 0 0 0 4000 0 3750 0 240 0 157990 0 0 0 LAWRENCE JEROME VP FOR ADVANCEMENT 150000 0 0 0 0 0 3750 0 2573 0 156323 0 0 0 CINDY SPEAKER PROVOST AND DEAN OF THE COLLEGE 136829 0 0 0 0 0 3420 0 9937 0 150186 0 0 0 30300 TUITION REMISSION TUITION REMISSION X 39 1303786 SELLING PRICE OF PROPERT 0 1 1 PART I, LINE 32B: THE COLLEGE DIRECTS DONORS TO SEND ALL GIFTS OF STOCK DIRECTLY TO THE COLLEGE'S INVESTMENT BROKER. THE BROKER IS INSTRUCTED TO SELL ANY STOCK GIFTS RECEIVED AS QUICKLY AS POSSIBLE UPON RECEIPT. THE BROKER MUST DISCLOSE THE NAME OF THE STOCK, THE NUMBER OF SHARES, AND THE SELLING SHARE PRICE TO THE COLLEGE'S CHIEF FINANCIAL OFFICER AND OBTAIN APPROVAL PRIOR TO EXECUTING ANY SALE. THE BROKER'S COMMISSION IS TAKEN DIRECTLY FROM THE SALE PROCEEDS PRIOR TO REMITTING THE PROCEEDS TO THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE PROVIDES A DRAFT OF THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO FILING. THE FORM 990 IS ALSO POSTED ON THE TRUSTEES' PORTAL PRIOR TO FILING FOR REVIEW BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR TRUSTEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. STATEMENTS ARE REVIEWED ANNUALLY BY THE AUDIT COMMITTEE, AND THE CHAIR AND SECRETARY OF THE BOARD OF TRUSTEES, WHO MONITOR AND ASSURE COMPLIANCE WITH INSTITUTIONAL POLICIES AND PRACTICES AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A THE STARTING SALARY AND BENEFITS PACKAGE FOR THE PRESIDENT IS DETERMINED BY THE EXECUTIVE COMMITTEE AND IS PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES PERFORMANCE GOALS AND OBJECTIVES WITH RESPECT TO COMPENSATION. IF, BASED ON THE EVALUATION AND BENCHMARK DATA COMPILED, A CONTRACT CHANGE IS RECOMMENDED, IT IS VOTED ON BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GRANTED UPON WRITTEN REQUEST OF AN INDIVIDUAL. ALL FORMS ARE AVAILABLE AT THE COLLEGE'S ADMINISTRATIVE OFFICES DURING NORMAL BUSINESS HOURS. A REPRESENTATIVE FROM THE COLLEGE WILL BE PRESENT AT ALL TIMES DURING THE REVIEW. UPON REQUEST, COPIES OF THE FORMS WILL BE PROVIDED. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 109,079. CHANGE IN VALUE OF FUNDS HELD BY OTHERS 150,714. PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS 1,877,475.