2022-05-11T08:28:13-07:00 2021-06-30 990 2020-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 Noel Ward AVP for Finance and Controller 4103376572 2022-05-11 1 11 1 AAL2 2020 2022-09-23 18:48:47Z Kent Deveraux 1021 Dulaney Valley Road Towson MD 21204 126195222 0 X www.goucher.edu X 1885 MD Goucher College provides an innovative liberal arts education that prepares students with a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 38 37 1391 363 254339 0 10189472 23481871 79463432 59811953 2682013 9933474 1413311 305666 93748228 93532964 40071471 31355534 0 0 36842948 32169206 0 0 1972748 33534282 26114723 110448701 89639463 -16700473 3893501 394278148 461840721 134676572 130023099 259601576 331817622 Goucher College provides an innovative liberal arts education that prepares students with a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. The College's vision is to become a top-100 national liberal arts college known for offering a transformational education that delivers graduates who can solve complex problems within a diverse, global community. 0 0 66841154 29981916 50778742 The College provided an Undergraduate Arts and Sciences education to 1,114 students. Goucher's academic philosophy is focused on 3Rs: relationships, resilience, and reflection, and coursework reflects the core values of a liberal arts education: proficiency in English composition and in a foreign language, solid foundations in history, abstract reasoning, scientific discovery and experimentation, problem-solving, social structures, and environmental sustainability. A highlight of Goucher's unique liberal arts curriculum is the requirement that all undergraduates must study abroad at least once before graduation, making the College among the first in the nation to make such a bold move in globalized education. Goucher strives to educate the whole student and promotes a broad education over narrow career training. This gives graduates a wide range of professional options and increased ability to take advantage of new opportunities in developing fields-and even the capability to change careers. Goucher students master a range of knowledge, including the communication, critical thinking, and quantitative reasoning skills that U.S. employers overwhelmingly say they want job candidates to have. 7048928 1373618 8128312 The College provided a graduate education to 901 students. The Welch Center for Graduate and Professional Studies offers a diverse range of academic programs, including: Master of Arts and Master of Fine Arts degrees in areas such as education, teaching, historic preservation, arts administration, cultural sustainability, digital arts, nonfiction, management, and environmental sustainability, plus a post-baccalaureate premedical program. These programs are led by industry leaders who help students strengthen their skills, add to their knowledge base, and create professional opportunities wherever their passions lead. 572917 0 904899 The College provided credit and non-credit continuing studies course work for 783 participants. Goucher is home to the College Board's Advanced Placement (AP) Summer Institute, training teachers in AP courses from across the country and around the world. The Advanced Placement Summer Institute allows teachers to earn graduate credit while gaining College Board-certified preparation in most subject areas offered through AP programs. 0 0 0 74462999 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 3773 0 1391 1 1 1 1 BD 0 0 0 0 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CO DC FL MA MD MI NH NJ NV NY OH OK OR SC WA X Noel Ward 4103376132 1021 Dulaney Valley Road Baltimore MD 21204 Kent Devereaux President 40 0 X X 294041 0 54062 Jonathan Lindsay VP for Enrollment Management 40 0 X 185591 0 24705 William Leimbach VP for Information Technology and Planning 40 X 158802 0 14308 Scott Sibley Professor 40 0 X 133688 0 10883 Barbara Stob General Counsel 40 0 X 128686 0 13330 Michele Y Ewing VP for Advancement 40 0 X 119800 0 17476 Elaine Meyer-Lee Provost 40 0 X 121502 0 11838 David Grossman Associate Professor 40 0 X 128185 0 4389 Lynne Lochte Former VP for Finance and Administration 40 0 X 62927 0 3174 Martin Sweidel Former Sr VP for Strategic Initiatives 40 0 X 16014 0 12334 Kimara Ahnert-Class of 91 Trustee 5 0.00 X 0 0 0 Patricia Batza-Class of 91 Trustee 5 0 X 0 0 0 David I Bavar Trustee 5 0.00 X 0 0 0 Robert Lee Bull Jr-Class of 93 Trustee 10.00 0 X 0 0 0 Michael Bulnes-Class of 18 Trustee 5 0 X 0 0 0 Kara Byrne Bundy-Class of 02 Trustee 5 0 X 0 0 0 Melinda J Burdette-Class of 72 Trustee 10 0 X 0 0 0 Henry Cubillan Class of 97 Trustee 5 0 X 0 0 0 Richard J Davis Trustee 5 0 X 0 0 0 Elizabeth Ellers-Class of 81 Trustee 10 0 X 0 0 0 Elaine K Freeman-Class of 58 Trustee 5 0 X 0 0 0 Norma Lynn Fox-Class of 76 Trustee 5 0 X 0 0 0 Jay Gilman-Class of 2009 Trustee 10 0 X 0 0 0 Linda K Himmelberger-Class of 74 Trustee 5 0 X 0 0 0 Miriam Brown Hutchins-Class of 73 Trustee 10 0 X 0 0 0 Miriam E Katowitz-Class of 73 Trustee 10 0 X 0 0 0 Ruth Shapiro Lenrow-Class of 74 Trustee, Chair 25.00 0 X 0 0 0 John Edward Nobriga-Class of 2019 Trustee 5 0 X 0 0 0 John Olszewski Jr-Class of 04 Trustee 5 0 X 0 0 0 Antonia Pettit - Class of 20 Trustee 5 0 X 0 0 0 Faye Polayes-Class of 73 Trustee 5 0 X 0 0 0 Robert J Proutt Trustee 5 0 X 0 0 0 William E Pugh II-Class of 94 Trustee, Treasurer 10 0 X 0 0 0 Dr Jocelyn Reader-Class of 02 Trustee 5 0 X 0 0 0 Ralph M Segall Trustee 10 0 X 0 0 0 Jodie H Slaughter-Class of 79 Trustee 5 0 X 0 0 0 Lisa Lyden Stromberg-Class of 83 Trustee 10 0 X 0 0 0 Stewart Thomsen Trustee 5 0 X 0 0 0 Theodore Venetoulis Trustee 5 0 X 0 0 0 Marilyn S Warshawsky-Class of 68 Trustee 5.00 0 X 0 0 0 Craig Watson Trustee 5 0 X 0 0 0 Betsy Weingarten-Class of 88 Trustee 5 0 X 0 0 0 Toby Wertheim-Class of 68 Trustee, Secretary 5 0 X 0 0 0 Jon Wexler-Class of 94 Trustee 10 0 X 0 0 0 Wendy S White-Class of 72 Trustee, Vice Chair 20 0 X 0 0 0 Margaret M Winslow-Class of 69 Trustee 5 0 X 0 0 0 Alex O Wood Trustee 5 0.00 X 0 0 0 1349236 0 166499 29 1 1 0 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 1197563 Whelan Security Mid Atlantic Inc d/b/a GardaWorld Security Services 1699 S Hanley Rd Suite 350 St Louis MO 63144 Security 779278 Educators Advancement Group Inc dba K-12 Teachers Alliance 20624 Abbey Woods Court North Frank Frankfort IL 60423 Program 586422 Ellucian Company LP 4375 Fair Lakes Court Fairfax VA 22033 Software Licensing 329013 Cambridge Associates LLC 100 Summer Street Boston MA 02110 Investment Advising 290600 21 0 0 0 0 13379690 10102181 810712 23481871 Undergrad Tuition, Room & Board 611310 50778742 50778742 0 0 Graduate Tuition, Room & Board 611310 8128312 8128312 0 0 Continuing Professional Education 611310 904899 904899 0 0 0 0 0 0 59811953 1374677 0 18562 1356115 0 0 0 0 0 0 0 0 53077 0 147249 0 -94172 0 -94172 0 -35261 -58911 34227241 6830911 29636214 2863141 4591027 3967770 8558797 0 20015 8538782 0 0 0 0 0 0 0 0 0 0 0 0 38422 15654 22768 0 0 22768 Summer Camp 611620 6100 0 0 6100 Pilates 611699 251744 0 251744 0 Pool 713940 -721 0 -721 0 119947 0 0 119947 377070 93532964 59811953 254339 9984801 0 0 31355534 31355534 0 0 0 0 734976 412462 273427 49087 0 0 0 0 26254853 19943167 5011528 1300158 71578 33961 35807 1810 3158101 2252272 803048 102781 1949698 1480789 371249 97660 0 0 0 0 352259 63618 285627 3014 133077 0 133077 0 16555 0 16555 0 0 0 904119 0 904119 0 3234564 2453529 683220 97815 239538 56808 53888 128842 2135168 1440212 623070 71886 1664711 210390 1453401 920 0 0 0 0 2772589 1427205 1331965 13419 37565 35213 959 1393 0 0 0 0 116937 97477 5879 13581 3840651 3840651 0 0 0 0 0 0 8895734 8361990 444787 88957 586057 0 586057 0 Food Service Cost 945404 945404 0 0 Study abroad expense -23252 -23252 0 0 Food 22631 9273 12158 1200 Other Administrative 240416 66296 173895 225 89639463 74462999 13203716 1972748 3779575 11040477 1171640 1199593 1051498 1029558 2304279 5744378 0 0 0 0 0 0 0 0 1288163 1860508 305507008 133614751 179792123 171892257 140361216 174769840 55467361 83364294 3471327 3548561 0 0 5590966 7391255 394278148 461840721 6545193 7856409 0 0 5364366 3500807 105382804 103030378 0 0 0 0 0 0 0 0 17384209 15635505 134676572 130023099 X 82463243 95430519 177138333 236387103 259601576 331817622 394278148 461840721 X 3893501 66687417 0 0 0 1635128 X 0 1 X 1 1 1 X 11817463 15901533 9611723 10189472 23481871 71002062 0 0 0 0 0 0 0 0 0 0 0 0 11817463 15901533 9611723 10189472 23481871 71002062 15029076 55972986 2271012 2826985 3238763 2214272 1389826 11940858 51406 0 0 0 0 51406 890711 716269 715079 655328 164469 3141856 86136182 406204113 0.64982 0.58109 X Schedule A, Part II, Line 10 Includes other revenue RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 4732 0 1 11823 16555 0 Schedule C, Part II-B, Line 1 Members of Goucher's senior management team and a select number of students participate in the annual Independent Higher Education Day. The event was held virtually and sponsored by the Maryland Independent College and University Associate (MICUA), of which Goucher is a member, and brought students and administrators from across the state to Maryland's capital for a briefing and visits with elected officials. In addition, members of Goucher's staff met with elected officials on behalf of the College. The associated compensation for these activities is reported on lines 1g. The organization paid membership dues to the National Association of Independent Colleges and Universities (NAICU) and to the Maryland Independent Colleges and Universities Association (MICUA), both of which engage in lobbying activity. NAICU and MICUA set aside a portion of the dues paid to engage in non-deductible lobbying and political expenditures. Accordingly, the College has reported an equal amount on line 1i. 0 0 X X X X X Education 0 191378000 73947000 5993000 4842000 7135000 0 259341000 203430000 1330000 7470000 4547000 15744000 0 191939000 214921000 1330000 7470000 4785000 15744000 0 203192000 209577000 845000 16871000 4785000 7587000 0 214921000 201482000 785000 19455000 4404000 7741000 0 209577000 0.148 0.36 0.492 1 0 0 14674905 14674905 0 259186989 108563343 150623646 0 0 0 0 0 29208841 25051408 4157433 0 2436273 0 2436273 171892257 0 0 Hedge Funds 25510334 F Limited Partnership Interest 57853960 F 83364294 0 Other long term liabilies 6132623 Obligation under interest rate swap agreement 4429705 Refundable advances from U.S. government 1268208 Asset Retirement Obligation 2098708 Payables and deferred revenues under split interest arrangements 1706261 15635505 X 130288000 66687417 0 0 -29970583 36716834 93571166 0 -38202 -38202 93532964 58071000 0 0 0 37247 37247 58033753 0 31605710 31605710 89639463 Schedule D, Part III, Line 1 The College did not disclose its collection and related policies in its financial statements. Schedule D, Part III, Line 4 The College art collection is comprised of works of fine art, including two-dimensional and three-dimensional art objects and miscellaneous objects of value. The art collection is owned by the College. Art objects are housed in buildings or on the campus grounds of the College, or are loaned by the College to other institutions. The collection includes sculptures, prints, photographs, drawings, paintings and other artistic objects. The collection is used for scholarly research, education and public exhibition in furtherance of the exempt purposes of the College. Schedule D, Part V, Line 4 The endowment of Goucher College generated income to support the College both generally and in specific ways designated by our generous donors. Income, allocated across approximately 730 endowments, supports both merit and need-based scholarships of undergraduate and graduate students; fellowships; internships; professorships; lectureships; the College library; and the College's general operating budget. Schedule D, Part X, Line 2 The College is qualified as a not for profit organization under section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for 2021 or 2020. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2021 and 2020, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the accompanying financial statements. The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. Schedule D, Part XI, Line 2d Schedule D, Part XI, Line 2d - Includes student financial aid of ($30,346,052), KTA Revenue Share of ($586,422), cost of study abroad of $23,252, investment fees ($904,119), unrealized gain on swap agreement of $1,635,128, net of reimbursements of expense, reclassified from revenue to expense of $125,556, revenue and other contra revenue of $82,072. Schedule D, Part XI, Line 4b Schedule D, Part XI, Line 4b - Expenses presented net within revenue, of ($38,202). Schedule D, Part XII, Line 2d Schedule D, Part XII, Line 2d - Expenses presented net within revenue, of $37,247. Schedule D, Part XII, Line 4b Schedule D, Part XII, Line 4b - Includes student financial aid of $30,346,052, KTA revenue share of $586,422, investment fees of $904,119, less cost of study abroad of $23,252, less certain expenses presented net within revenue, of $125,556, and other of $82,072. 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 racially nondiscriminatory policy is published in the College's academic catalog, student handbook and on the website. Schedule E, Part I, Line 6 The College participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity Grant Program, Federal Work Study Program, Perkins Loan Program, Federal Direct Student Loans, and Teacher Education Assistance for College and Higher Education. The College also received grants from the Maryland State Department of Education, Maryland Higher Education Commission and participates in Maryland Sellinger Program. In addition, the College was awarded sponsored research and other program grants funded by National Institute of Health, National Endowment for the Humanities, and the US Department of Education Schedule E, Part I, Line 6a The College participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity Grant Program, Federal Work Study Program, Perkins Loan Program, Federal Direct Student Loans, and Teacher Education Assistance for College and Higher Education. The College also received grants from the Maryland State Department of Education, Maryland Higher Education Commission and participates in the Maryland Sellinger Program. In addition, the College was awarded sponsored research and other program grants funded by the National Institute of Health, National Endowment for the Humanities, and the US Department of Education. 1 Central America and the Caribbean 0 0 Investments Investments 6029067 Central America and the Caribbean 0 0 Program Services Educational supplies 1463 East Asia and the Pacific 0 0 Program Services Educational supplies 5749 Europe (including Iceland and Greenland) 0 0 Program Services Educational supplies 7988 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Educational supplies 3469 0 0 6047736 1 0 1 1 1 0 Schedule F, Part I, Line 1 The College, through its investment in various alternative assets, has transfers to foreign corporations during the year. The College will file Forms 926 where transfers to foreign corporations exceed $100,000. Schedule F, Part I, Line 2 The College provides institutional grant funds limited to need-based and merit-based assistance to its students while they participate in study abroad experiences. In general, grants are credited into the student's tuition account. Financial need is determined by subtracting the expected family contribution - as calculated on the Free Application of Federal Student Aid (FAFSA) - from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid, in cooperation with the Office of Global Education. However, none of our students traveled abroad, therefore, foreign aid is $0. Schedule F, Part IV, Line 3 The College, through its investment in various alternative assets, has interests in foreign corporations. However, the College's interest in any single foreign corporation was less than 10 percent. Accordingly, the College is not required to file Form 5471. Schedule F, Part IV, Line 4 The College, through its investment in various alternative assets and common collective trusts, was a direct or indirect shareholder of a passive foreign investment company or qualifying electing fund; however, the College is not required to file Form 8621. Schedule F, Part IV, Line 5 The College, through its investment in various alternative assets, has ownership in foreign partnerships. However, the College owned less than 10% of any single foreign partnership and it did not directly or indirectly transfer greater than $100,000 to any foreign partnership. Accordingly, the College is not required to file Form 8865. 1 Undergraduate and graduate grants, scholarships, and discounts 1341 30368806 0 0 Prizes, awards, internships, and fellowships 201 248196 0 CRRSAA Grant 398 738532 0 Schedule I, Part I, Line 2 Schedule I, Part I, Line 2 - Goucher College's institutional grant funds are limited to need-based and merit-based financial assistance for attendance at the College. Goucher College's comprehensive program of need-based and merit-based financial assistance is managed by the Office of Student Financial Aid. Financial need is determined by subtracting the Expected Family Contribution - as calculated on the Free Application for Federal Student Aid (FAFSA) from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid. X X X 1 1 X X X 1 0 0 0 0 0 0 0 0 Kent Devereaux President 292694 0 0 0 1346 0 4875 0 49187 0 348102 0 0 0 Jonathan Lindsay VP for Enrollment Management 184502 0 0 0 1089 0 2188 0 22518 0 210297 0 0 0 William Leimbach VP for Information Technology and Planning 157555 0 0 0 1247 0 4219 0 10089 0 173110 0 0 0 Schedule J, Part I, Line 1a A residence and limited personal services are provided for the convenience of the President of the College. A housing allowance of $26,000 is included in the President's non-taxable compensation. In addition, the College provides a de minims gross-up payment to senior staff to cover the tax impact of long-term disability insurance. Schedule J, Part I, Line 4 Lynne Lochte, the former VP for Finance and Administration, received $33,408 in severance during the calendar year. A MD Health and Higher Educational Facilities Authority Series 2012A 520936091 574218KW2 2012-08-30 22315289 Refund Series 2004 Revenue Bonds originally issued Aug. 18, 2004. 0 0 0 B MD Health and Higher Educational Facilities Authority Goucher College Issue Series 2017A 520936091 5742182H5 2017-06-20 60565232 Refund MHHEFA Series 2012B and 2012C bonds, dated 8/2012 0 0 0 C MD Health and Higher Education Authority Goucher Issue 2017B 520936091 2017-06-20 30000000 To finance and refinance the costs of certain capital projects to enhance residential life on campus 0 0 0 A 1200000 0 22315289 1423732 0 0 87289 0 0 0 22228000 0 2012 0 1 1 1 B 1860000 0 60565232 1122416 0 0 1068599 0 0 0 60488631 0 2017 1 0 1 1 C 4608000 0 30000000 0 0 0 0 0 0 30000000 0 0 2019 0 0 1 1 A 0 0 1 1 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 0 0 0 1 C 0 0 1 1 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 1 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2c-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Autho Schedule K, Part IV, Line 2c-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Autho - BNY Mellon prepared the Goucher College MHHEFA Series 2012A rebate calculation as 7/1/17 and determined no rebate was due. X 2 0 policy X 47 810712 NYSE X Horse 1 0 policy 1 0 1 0 Schedule M, Part I Schedule M, Part I - The number reported in column (b) represents the number of items contributed, except for line 9 - securities where all securities donated on one day by the same donor was counted as one contribution. Schedule M, Part I, Line 33 Schedule M, Part I, Line 33 - It is the policy of the College to record works of art, books, horses and other non cash gifts received at a book value of zero. Form 990, Part VI, Section B, Line 11b After review by the Audit Committee, the complete Form 990 and Form 990T were distributed electronically to all members of the Board of Trustees for a period of review and comment lasting 7 days. At the conclusion of the periods of comment and review, a meeting of the Audit Committee of the Board of Trustees was convened to review and revise (if necessary) the Form 990 and 990T. The Forms were approved for Filing by the Audit Committee of the Board of Trustees on May 9, 2022. Form 990, Part VI, Section B, Line 12c Every trustee, officer and key employee is provided a copy of the Conflict-of-Interest Policy annually and required to complete an annual disclosure form reporting any known material financial or other interest of the trustee, officer or key employee or a family member in any transaction or business relationship the College has or is considering, including material financial or other interests in any outside entity involved in such transaction or relationship. A report of disclosures are presented to the Audit Committee of the Board of Trustees. Committee members then determine what, if any, action should be taken as to each disclosure and these actions are implemented by the CFO and VP for Finance & Administration. The policy directs the committee to review and update the list of the key employees, and the policy itself is reviewed on a regular basis and revised as necessary. Form 990, Part VI, Section B, Line 15 Goucher College uses the median of relevant markets to determine salary for positions. For exempt-level positions, the median of the market for private, independent colleges using CUPA-HR salary survey data is used. For non-exempt positions, both local market data (not higher education specific) and the median for private, independent colleges using CUPA-HR salary survey data is used. Faculty salaries have historically been determined solely by rank; however, beginning in 2021, Goucher College began looking at the median of the market for private, independent colleges using CUPA-HR salary survey data by academic discipline. This compensation philosophy was discussed and agreed to by President's Cabinet. A Presidential performance review form is used by the Board to evaluate the president's performance. A copy of the report is maintained by the Associate Vice President for Human Resources. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and audited financial statements are available to the public upon request. Some policies are also available on the College website. Form 990, Part XI, Line 9 Changes in fair value of interest rate swap agreement $1,635,128. Pooled Income Fund (2) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (3) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Trust (1) 1021 Dulaney Valley Road Baltmore MD 21204 Annuity FL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1