2021-05-17T09:37:46-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2019-07-01 030179593 MARLBORO COLLEGE MARL 8022589259 124 WASHINGTON STREET SUITE 101 FOXBOROUGH MA 02035 KEITH D LOWEY PRESIDENT 8022589259 2021-05-15 1 LAURA J KENNEY P00202198 6177170831 2021-05-15 2019 2022-09-23 18:48:47Z X KEITH D LOWEY 124 WASHINGTON STREET SUITE 101 FOXBOROUGH MA 02035 17166677 0 X WWW.MARLBORO.EDU X 1946 VT TO PROVIDE RESPONSIVE, INNOVATIVE UNDERGRADUATE AND GRADUATE EDUCATION. 18 17 308 60 -52460 0 4983980 1968463 8262628 5839064 430707 12322 259307 382359 13936622 8202208 4914461 3036403 0 0 8236980 9427828 0 0 442738 6421856 5280374 19573297 17744605 -5636675 -9542397 48906017 37753712 3836033 1516146 45069984 36237566 X PLEASE SEE SCHEDULE O FOR MARLBORO COLLEGE'S MISSION STATEMENT.THE GOAL OF THE UNDERGRADUATE PROGRAM AT MARLBORO COLLEGE IS TO TEACH STUDENTS TO THINK CLEARLY AND TO LEARN INDEPENDENTLY THROUGH ENGAGEMENT IN A STRUCTURED PROGRAM OF LIBERAL STUDIES. STUDENTS ARE EXPECTED TO DEVELOP A COMMAND OF CONCISE AND CORRECT ENGLISH AND TO STRIVE FOR ACADEMIC EXCELLENCE INFORMED BY INTELLECTUAL AND ARTISTIC CREATIVITY; THEY ARE ENCOURAGED TO ACQUIRE A PASSION FOR LEARNING, DISCERNING JUDGMENT AND A GLOBAL PERSPECTIVE. THE COLLEGE PROMOTES INDEPENDENCE BY REQUIRING STUDENTS TO PARTICIPATE IN THE PLANNING OF THEIR OWN PROGRAMS OF STUDY AND TO ACT RESPONSIBLY WITHIN A SELF-GOVERNING COMMUNITY.THE MISSION OF MARLBORO COLLEGE GRADUATE AND PROFESSIONAL STUDIES PROGRAM IS TO OFFER RESPONSIVE, INNOVATIVE EDUCATION OF THE HIGHEST STANDARD IN PROFESSIONAL STUDIES IN THE TOPIC AREAS OF MANAGEMENT, TECHNOLOGY, AND TEACHING. THE EDUCATIONAL PRACTICE OF THE GRADUATE PROGRAM FOSTERS THE DEVELOPMENT OF CRITICAL T 0 0 12951810 3036403 5839064 EDUCATION - LOCATED IN MARLBORO AND BRATTLEBORO, VERMONT, THE COLLEGE PROVIDES POST-SECONDARY UNDERGRADUATE LIBERAL ARTS STUDIES AND GRADUATE STUDIES IN MANAGEMENT, TECHNOLOGY AND TEACHING.AFTER YEAR-END, THE COLLEGE NOTIFIED THE U.S DEPARTMENT OF EDUCATION OF ITS INTENT TO CLOSE ON AUGUST 15, 2020. 12951810 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 131 0 1 308 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X ROBERT WEBBER 8022589259 2582 SOUTH ROAD FOXBOROUGH MA 02035 KEVIN F F QUIGLEY PRESIDENT 40.00 X X 245786 0 39060 RICHARD GLEJZER PROVOST 40.00 X 111083 0 33491 RENNIE WASHBURN CHIEF ADVANCEMENT OFFICER 40.00 X 102283 0 22143 ROBERT WEBBER CHIEF FINANCIAL OFFICER 40.00 X 55289 0 0 RICHARD H SAUDEK CHAIR 5.00 X X 0 0 0 KIRSTEN A NEWCOMER TRUSTEE 5.00 X X 0 0 0 JOHN W Y CHAN VICE CHAIR 5.00 X X 0 0 0 PHILIP H STECKLER TREASURER 5.00 X X 0 0 0 PETER H ZAMORE CLERK 5.00 X X 0 0 0 RODNEY BENT TRUSTEE 5.00 X 0 0 0 DENA S DAVIS TRUSTEE 5.00 X 0 0 0 KAREN DAVIS TRUSTEE 5.00 X 0 0 0 J BARTON GOODWIN TRUSTEE 5.00 X 0 0 0 DONNA HEILAND TRUSTEE 5.00 X 0 0 0 WOLF KAHN PAST TRUSTEE (3/1/2020) 5.00 X 0 0 0 KIRSTEN MALONE TRUSTEE 5.00 X 0 0 0 HEATHERJEAN MACNEIL TRUSTEE 5.00 X 0 0 0 DEAN R NICYPER TRUSTEE 5.00 X 0 0 0 MARTA WILLGOOSE SALO TRUSTEE 5.00 X 0 0 0 D EDWARD SMYTH TRUSTEE 5.00 X 0 0 0 SUSAN WEFALD TRUSTEE 5.00 X 0 0 0 MARA WILLIAMS TRUSTEE 5.00 X 0 0 0 514441 0 94694 3 0 1 0 METZ AND ASSOCIATES LTD TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 753767 ERNST & YOUNG US LLP 50 ROWES WHARF BOSTON MA 02110 CONSULTING 475000 WHITE WHALE WEB SERVICES INC 4207 SE WOODSTOCK BLVD 226 PORTLAND OR 97206 WEB DESIGN AND MARKETING 188347 HOWARD PRINTING PO BOX 996 BRATTLEBORO VT 05302 PRINTING 157206 CHESAPEAKE ASSET MANAGEMENT LLC ONE ROCKEFELLER PLAZA NEW YORK NY 10020 INVESTMENT MANAGER 141539 6 209685 1758778 9648 1968463 TUITION AND FEES 611310 4634131 4634131 AUXILIARY ENTERPRISES 611710 1204933 1204933 5839064 146229 -52460 198689 305223 0 305223 305223 305223 8830562 8964469 -133907 -133907 -133907 OTHER INCOME 900099 77136 77136 77136 8202208 5839064 -52460 447141 3036403 3036403 523848 144575 254846 124427 7156978 5258905 1719102 178971 149875 107035 36924 5916 1049384 765392 242548 41444 547743 390027 135975 21741 472466 472466 328573 22557 306016 117668 117668 201901 201901 641458 555134 86324 2383 1029 1354 346426 227517 83202 35707 42212 1971 40241 559975 400559 159416 195559 186305 7537 1717 12274 7479 4795 91344 65234 26110 568814 406224 162590 262332 187347 74985 FOOD EXPENSES 657219 657219 OTHER EXPENSES 629838 428781 177575 23482 FUNCTION EXPENSE 107398 59583 38482 9333 SUPPLIES AND BOOKS 42534 42534 17744605 12951810 4350057 442738 455267 906336 6226613 3158745 143031 1315 69696 61097 86086 7425 23319415 11689865 11958568 11629550 29443772 21506880 522984 482364 48906017 37753712 881777 142760 445258 82291 2255205 0 253793 1291095 3836033 1516146 X 7541234 22791305 37528750 13446261 45069984 36237566 48906017 37753712 X -9542397 750599 -40620 X 0 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35733063 339 696076 10141135 26288343 37619624 2365 571113 2460039 35733063 37343600 5799 3568171 3297946 37619624 35109368 558763 4903756 3228287 37343600 39231836 65524 -687117 3500875 35109368 0.00000 0.44670 0.55330 0 0 974541 974541 15627532 6648178 8979354 3089384 2825300 264084 3627958 2216387 1411571 11629550 ALTERNATIVE INVESTMENTS 21506880 F 21506880 ENVIRONMENTAL REMEDIATION LIABILITY 206883 DISCOUNT FOR FUTURE INTEREST 84212 REFUNDABLE ADVANCE FROM US GOVERNMENT 1000000 1291095 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES TO SUPPORT THE COLLEGE'S MISSION. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS PUBLISHED IN THE COLLEGE CATALOGUE AND STUDENT HANDBOOK, AND WEBSITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL AND STATE GOVERNMENT GRANT MONEY. LINE 6 DURING FISCAL YEAR ENDED JUNE 30, 2020, THE COLLEGE RECEIVED A PAYCHECK PROTECTION PLAN LOAN GRANTED BY THE U.S. DEPARTMENT OF TREASURY THROUGH THE SMALL BUSINESS ADMINISTRATION UNDER THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT). CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 17580680 0 0 0 0 0 0 17580680 0 17580680 1 0 1 0 1 0 PART I, LINE 2: THE ORGANIZATION MAINTAINS RECORDS OF ITS FOREIGN ALTERNATIVE INVESTMENTS FUND WHICH IS PROFESSIONALLY MANAGED BY A THIRD PARTY. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 233 3036403 FMV FINANCIAL AID PART I, LINE 2: THE STUDENTS MUST APPLY FOR THE GRANTS AND MEET THE REQUIREMENTS OF THE VARIOUS GRANTS. THE PROCESS BY WHICH EACH GRANT IS AWARDED AND MONITORED IS FORMALIZED IN A POLICY WHICH IS UPDATED BY THE DIRECTOR OF FINANCIAL AID. X 0 0 X X 0 0 0 0 0 0 0 1 0 KEVIN F F QUIGLEY PRESIDENT 226500 0 17000 0 2286 0 9060 0 30000 0 284846 0 0 0 PART I, LINE 7 THE OFFICERS OF THE BOARD DETERMINED AND AWARDED A DISCRETIONARY BONUS TO THE PRESIDENT BASED ON PERFORMANCE. LINE 1A THE PRESIDENT RECEIVES HOUSING THAT IS NON-TAXABLE, AND IS REQUIRED IN ORDER TO PERFORM THE RESPONSIBILITIES OF THE POSITION. FORM 990, PART VI, SECTION A, LINE 1 THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE WHICH CONSISTS OF THE CHAIRMAN, VICE CHAIRMAN, TREASURER, AND CLERK OF THE GOVERNING BODY. THE ROLE OF THE EXECUTIVE COMMITTEE IS TO ADVISE THE PRESIDENT BETWEEN MEETINGS AND OCCASIONALLY MAKE DECISIONS ON BEHALF OF THE BOARD, WHEN THE MATTER IS URGENT AND IT IS NOT FEASIBLE FOR THE ENTIRE BOARD TO CONSIDER THE MATTER. ON FEBRUARY 5, 2011, TRUSTEES VOTED TO ALLOW THE EXECUTIVE COMMITTEE TO VOTE WITH THE PROVISION THAT ANY DECISION IS THEN CONVEYED TO THE BOARD AND THE BOARD COULD RECONSIDER IT AT THE NEXT MEETING. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE GOVERNING BOARD ARE ALSO MEMBERS OF THE ORGANIZATION, BUT THEY ARE THE ONLY MEMBERS. THE MEMBERS ANNUALLY ELECT THE GOVERNING BOARD AND ONE OFFICER: THE CLERK; ALL OTHER OFFICERS ARE ELECTED BY THE GOVERNING BOARD. THE MEMBERS HAVE NO OTHER RIGHTS, AND NEITHER MAKE ANY OTHER DECISIONS NOR HAVE ANY RIGHT TO THE ORGANIZATION'S PROFITS OR, ON LIQUIDATION, ITS NET ASSETS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE GOVERNING BOARD ARE ALSO MEMBERS OF THE ORGANIZATION, BUT THEY ARE THE ONLY MEMBERS. THE MEMBERS ANNUALLY ELECT THE GOVERNING BOARD AND ONE OFFICER: THE CLERK; ALL OTHER OFFICERS ARE ELECTED BY THE GOVERNING BOARD. THE MEMBERS HAVE NO OTHER RIGHTS, AND NEITHER MAKE ANY OTHER DECISIONS NOR HAVE ANY RIGHT TO THE ORGANIZATION'S PROFITS OR, ON LIQUIDATION, ITS NET ASSETS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - THE PRESIDENT AND CHIEF FINANCIAL OFFICER REVIEW THE FORM 990 PRIOR TO A REVIEW BY THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. ONCE THIS PROCESS IS COMPLETE, THE FORM 990 IS THEN PROVIDED TO THE GOVERNING BODY. FORM 990 PROVIDED TO THE GOVERNING BODY - THE COLLEGE HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF SCHEDULE B, (SCHEDULE OF CONTRIBUTORS), IN ADVANCE OF FILING THE RETURN. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE BOARD HAS DELEGATED THE AUTHORITY AND RESPONSIBILITY FOR REVIEWING THAT SCHEDULE TO THE AUDIT COMMITTEE. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A EVEN THOUGH A COPY OF FORM 990 (WITH THE EXCEPTION OF SCHEDULE B) WAS PROVIDED TO THE COMPLETE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE GOVERNING BODY AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND SIGN A DOCUMENT REGARDING COMPLIANCE WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. THE PRESIDENT'S ASSISTANT MONITORS COMPLIANCE ON BEHALF OF THE BOARD. THE BOARD IS RESPONSIBLE FOR ENFORCEMENT ACTION ON THE POLICY. SHOULD ANY CONFLICT BE IDENTIFIED, THE INDIVIDUAL WOULD NOT PARTICIPATE IN THE DISCUSSION OR VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S COMPENSATION PACKAGE AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. DELIBERATIONS AND DECISIONS ARE DOCUMENTED. THIS PROCESS IS COMPLETED ANNUALLY FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENT -40,620. CHARITABLE REMAINDER UNITRUST (1) CHARITABLE FUNDING VT 0 POOLED INCOME FUNDS (1) CHARITABLE FUNDING VT 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0