2021-05-14T08:41:10-07:00 2020-06-30 990 2019-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 Noel Ward AVP for Finance and Controller 4103376132 2021-05-14 2019 2022-09-23 18:48:47Z Kent Deveraux 1021 Dulaney Valley Road Baltimore MD 21204 154215826 0 X www.goucher.edu X 1885 MD Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 37 36 1804 387 706382 0 9611723 10189472 85685427 79463432 3975756 2682013 1434764 1413311 100707670 93748228 39859894 40071471 0 0 43303305 36842948 0 0 2004863 32419084 33534282 115582283 110448701 -14874613 -16700473 412296969 394278148 135882698 134676572 276414271 259601576 Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. The College's vision is to become the model for accessible transformational education that integrates curricular and co-curricular learning to deliver graduates who can solve complex problems together with people who are not like themselves. 0 0 86898140 38637537 71489042 The College provided an Undergraduate Arts and Sciences education to 1,327 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 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. 6618343 1433934 7203791 The College provided a graduate education to 807 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. 578979 0 770599 The College provided credit and non-credit continuing studies course work for 891 participants. Goucher's Educators' Institute provides teachers and administrators innovative training on several new techniques that address issues for a diverse range of learners. 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 94095462 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 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 3864 0 1804 1 1 1 1 BD 0 0 0 1 1 0 0 0 0 0 0 X 37 36 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK FL MA MD MI NJ NY OH OK OR WA X Noel Ward 4103376132 1021 Dulaney Valley Road Baltimore MD 21204 Jose' Antonio Bowen Former President 40 0 X 326139 0 41240 Lynne Lochte Vice President for Finance and Administration 40 0 X 201834 0 16234 Bryan Coker Vice President and Dean of Students 40 0 X 169750 0 30209 Barbara Stob General Counsel 40 0 X 170043 0 13332 William Leimbach VP for Information Technology and Planning 40 0 X 165778 0 15556 Scott Sibley Acting Provost 40 0 X 155602 0 25387 Deborah Lupton Vice President for Human Resources 40 0 X 152552 0 13131 Martin Sweidel Former Sr Vice President for Strategic Initiatives 40 0 X 136368 0 27018 Robert Slocum Professor 40 0 X 134839 0 18156 Uta Larkey Professor 40 0 X 143411 0 2924 Kent Devereaux President 40 0 X X 97855 0 30601 Trishana Bowden Former Officer 40 0 X 72758 0 14641 Kimara Ahnert-Class of 91 Trustee 3 0 X 0 0 0 David I Bavar Trustee 3 0 X 0 0 0 Robert Lee Bull Jr-Class of 93 Trustee 5 0 X 0 0 0 Michael Bulnes-Class of 18 Trustee 3 0 X 0 0 0 Kara Byrne Bundy-Class of 02 Trustee 3 0 X 0 0 0 Melinda J Burdette-Class of 72 Trustee 5 0 X 0 0 0 Geoffrey Clapp-Class of 95 Trustee 3 0 X 0 0 0 Henry Cubillan Class of 97 Trustee 3 0 X 0 0 0 Richard J Davis Trustee 5 0 X 0 0 0 Elizabeth Ellers-Class of 81 Trustee 5 0 X 0 0 0 Norma Lynn Fox-Class of 76 Trustee 3 0 X 0 0 0 Elaine K Freeman-Class of 58 Trustee 3 0 X 0 0 0 Deanna Galer-Class of 17 Trustee 5 0 X 0 0 0 Jay Gilman-Class of 2009 Trustee 5 0 X 0 0 0 Beth Himmelstein Goldsmith-Class 72 Trustee 5 0 X 0 0 0 Linda K Himmelberger-Class of 74 Trustee 3 0 X 0 0 0 Miriam Brown Hutchins-Class of 73 Trustee 5 0 X 0 0 0 Miriam E Katowitz-Class of 73 Trustee 5 0 X 0 0 0 Ruth Shapiro Lenrow-Class of 74 Trustee, Chair 20 0 X 0 0 0 John Edward Nobriga-Class of 2019 Trustee 3 0 X 0 0 0 John Olszewski Jr-Class of 04 Trustee 3 0 X 0 0 0 Faye Polayes-Class of 73 Trustee 3 0 X 0 0 0 Robert J Proutt Trustee 5 0 X 0 0 0 William E Pugh II-Class of 94 Trustee, Treasurer 5 0 X 0 0 0 Dr Jocelyn Reader-Class of 02 Trustee 3 0 X 0 0 0 Jennifer Mitchell Reed-Class of 86 Trustee 3 0 X 0 0 0 Ralph M Segall Trustee 5 0 X 0 0 0 Lisa Lyden Stromberg-Class of 83 Trustee 5 0 X 0 0 0 Stewart Thomsen Trustee 3 0 X 0 0 0 Theodore Venetoulis Trustee 3 0 X 0 0 0 Craig Watson Trustee 3 0 X 0 0 0 Betsy Weingarten-Class of 88 Trustee 3 0 X 0 0 0 Toby Wertheim-Class of 68 Trustee, Secretary 5 0 X 0 0 0 Jon Wexler-Class of 94 Trustee 3 0 X 0 0 0 Wendy S White-Class of 72 Trustee, Vice Chair 15 0 X 0 0 0 Alex O Wood Trustee 3 0 X 0 0 0 1926929 0 248429 45 1 1 0 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 4135851 SportsBuilders Inc 4401 Perkiomen Ave Reading PA 19606 Construction 1249240 Whelan Security Mid Atlantic Inc d/b/a GardaWorld Security Services 1699 S Hanley Rd Suite 350 St Louis MO 63144 Security 372068 The College Board 11955 Democracy Drive Reston VA 20190 Program and Student Information 249067 UKG Inc fka The Ultimate Software Group 1485 North Park Drive Westin FL 33326 Payroll Payment Services 242651 26 0 0 3020 0 4327521 5858931 2047725 10189472 Undergrad Tuition, Room & Board 611310 71489042 71489042 0 0 Graduation Tuition, Room & Board 611310 7203791 7203791 0 0 Continuing Professional Education 611310 770599 770599 0 0 0 0 0 0 79463432 2056535 0 -34490 2091025 0 0 0 0 0 0 0 0 366084 0 165457 0 200627 0 200627 0 95095 105532 56961447 3906823 57876350 2366442 -914903 1540381 625478 0 29072 596406 1525 3020 2347 -822 0 -822 0 0 0 0 0 0 63266 57002 6264 0 0 6264 Summer Camp 611620 418380 0 308383 109997 Pilates 611699 269971 0 269971 0 Pool 713940 38351 0 38351 0 480540 0 0 480540 1207242 93748228 79463432 706382 3388942 0 0 39730635 39730635 340836 340836 0 0 756696 208773 510917 37006 0 0 0 0 29988545 23135774 5593024 1259747 1011686 752278 214266 45142 2907166 1820451 973927 112788 2178855 1692306 395568 90981 0 0 0 0 150347 0 150347 0 129028 0 129028 0 14897 0 14897 0 0 0 1227867 0 1227867 0 3137612 2017735 1086161 33716 303554 131456 116157 55941 2898464 2255874 491909 150681 1458669 105322 1321507 31840 0 0 0 0 2607696 1781051 810331 16314 858959 807374 21092 30493 0 0 0 0 297324 266886 25143 5295 4295235 4295235 0 0 0 0 0 0 10487134 9873947 508145 105042 565328 0 565328 0 Food Service Costs 3362048 3362048 0 0 Study abroad expense 1226298 1226298 0 0 Food 285624 228810 28168 28646 Other Administrative 228198 62373 164594 1231 110448701 94095462 14348376 2004863 2719233 3779575 1149548 1171640 2806276 1051498 2369307 2304279 0 0 0 0 0 0 0 0 1399705 1288163 306363689 126571566 189311859 179792123 148009555 140361216 55107461 55467361 3812300 3471327 0 0 5611725 5590966 412296969 394278148 8584480 6545193 0 0 2384121 5364366 107658536 105382804 0 0 0 0 0 0 0 0 17255561 17384209 135882698 134676572 X 93537760 82463243 182876511 177138333 276414271 259601576 412296969 394278148 X -16700473 1334877 0 0 0 -1447099 X 0 1 X 1 1 1 X 9926402 11817463 15901533 9611723 10189472 57446593 0 0 0 0 0 0 0 0 0 0 0 0 9926402 11817463 15901533 9611723 10189472 57446593 13942361 43504232 2717646 2271012 2826985 3238763 2214272 13268678 0 51406 0 0 0 51406 1122568 890711 716269 715079 655328 4099955 74866632 426635208 0.58109 0.54478 X Schedule A, Part II, Line 10 Include income from fundraising events and other revenue. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 2500 0 1 12397 14897 0 Schedule C, Part II-B, Line 1 Members of Goucher's senior management team, faculty, staff and a select number of students participate annually in Maryland's Independent Higher Education Day. The event is sponsored by the Maryland Independent College and University Association (MICUA) and brings student 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 line 1g. The organization pays membership dues to the National Association of Independent Colleges and Universities (NAICU) and to MICUA, both of which engage in lobbying activities. NAICU and MICUA set aside a portion of their budget to engage in non-deductible lobbying and political expenditures. Accordingly, the College has reported an estimate of this amount on line 1i. 0 0 X X X X X Education 0 203430000 2548000 2599000 4658000 12541000 0 191378000 214921000 1330000 7470000 4547000 15744000 0 203430000 209577000 845000 16871000 4785000 7587000 0 214921000 201482000 785000 19455000 4404000 7741000 0 209577000 216707000 2028000 -5460000 4324000 7469000 0 201482000 0.148 0.46 0.392 1 0 0 12675450 12675450 0 259538903 101453019 158085884 0 0 0 0 0 30062720 25118547 4944173 0 4086616 0 4086616 179792123 Hedge Funds 23875081 F Limited Partnership Interests 31592280 F 55467361 0 Other long term liabilities 5959940 Obligation under interest rate swap agreement 6064833 Refundable advances from US government 1488266 Asset retirement obligation 2098708 Payables under split interest agreements 1772462 17384209 X 52476000 1334877 0 0 -41604548 -40269671 92745671 0 1002557 1002557 93748228 69289000 0 0 0 -1002252 -1002252 70291252 0 40157449 40157449 110448701 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, which is owned by the College and 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, drawing, 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 2020 or 2019. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2020 and 2019, 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 Includes student financial aid of 39,072,942, cost of study abroad of 1,226,298, unrealized loss on swap agreement of 1,447,099, net of reimbursements of expense, reclassified from revenue to expense of 141,791. Schedule D, Part XI, Line 4b Investment fees of 1,227,867, less certain expenses presented net within revenue, such as rental expenses, fundraising expense, cost of goods sold of 224,613, and a rounding adjustment of 697. Schedule D, Part XII, Line 2d Investment fees of 1,227,867, less certain expenses presented net within revenue, such as rental expenses, fundraising expense, cost of goods sold of 224,613, and a rounding adjustment of 1,002. Schedule D, Part XII, Line 4b Includes student financial aid of 39,072,942, cost of study abroad of 1,226,298, net of reimbursements of expense, reclassified from revenue to expense of 141,791. 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 Educational 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 Science Foundation and the National Institute of Health, and the US Department of Education. Schedule E, Part I, Line 6a 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 the Maryland Sellinger Program. In addition, the College was awarded sponsored research and other program grants funded by the National Science Foundation, National Institute of Health, National Endowment for the Humanities, US Department of State and the US Department of Education. 1 Central America and the Caribbean 0 0 Investments Investments 5362558 Central America and the Caribbean 0 0 Program Services Tuition,room,board&program 150816 East Asia and the Pacific 0 0 Program Services Tuition,room,board&program 218824 Europe (including Iceland and Greenland) 0 0 Program Services Tuition,room,board&program 1059948 Middle East and North Africa 0 0 Program Services Tuition,room,board&program 38000 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Program 6000 Russia and the newly independent States 0 0 Program Services Tuition,room,board&program 16500 South America 0 0 Program Services Tuition,room,board&program 47806 South Asia 0 0 Program Services Tuition,room,board&program 18441 Sub-Saharan Africa 0 0 Program Services Tuition,room,board&program 191934 0 0 7110827 Student Financial Aid Central America and the Caribbean 7 33383 Credit to student accounts Cash value Student Financial Aid East Asia and the Pacific 9 30822 Credit to student accounts Cash value Student Financial Aid Europe (including Iceland and Greenland) 54 241017 Credit to student accounts Cash value Student Financial Aid Middle East and North Africa 1 6212 Credit to student accounts Cash value Student Financial Aid Russia and the newly independent States 1 6462 Credit to student accounts Cash value Student Financial Aid South America 3 12478 Credit to student accounts Cash value Student Financial Aid South Asia 1 5060 Credit to student accounts Cash value Student Financial Aid Sub-Saharan Africa 3 5402 Credit to student accounts Cash value 1 0 1 1 1 0 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. 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 2107 38680349 0 Cash Value Prizes, awards, internships and fellowships 222 262624 0 Cash value CARES Act Student Grants 570 787662 0 Cash Value 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 Jose' Antonio Bowen Former President 324720 0 0 0 1419 0 8750 0 32490 0 367379 0 0 0 Lynne Lochte Vice President for Finance and Administration 201401 0 0 0 433 0 5151 0 11083 0 218068 0 0 0 Barbara Stob General Counsel 169140 0 0 0 903 0 4075 0 9256 0 183374 0 0 0 Bryan Coker Vice President and Dean of Students 169547 0 0 0 203 0 4250 0 25959 0 199959 0 0 0 William Leimbach VP for Information Technology and Planning 164835 0 0 0 942 0 4219 0 11337 0 181333 0 0 0 Scott Sibley Acting Provost 155295 0 0 0 307 0 4125 0 21262 0 180989 0 0 0 Deborah Lupton Vice President for Human Resources 152364 0 0 0 188 0 3875 0 9256 0 165683 0 0 0 Martin Sweidel Former Senior Vice President for Strategic Initiatives 120730 0 0 0 15637 0 6394 0 20624 0 163385 0 0 0 Robert Slocum Professor 134531 0 0 0 309 0 3981 0 14175 0 152996 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 minimis gross-up payment to senior staff to cover the tax impact of long-term disability insurance. Schedule J, Part I, Line 4 Marty Sweidel - Severance of $15,000 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 600000 0 22315289 1062725 0 0 87289 0 0 0 22228000 0 2012 0 1 1 1 B 1860000 0 60565232 1122415 0 0 1068599 0 0 0 60488631 0 2017 1 0 1 1 C 3011000 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 C 1 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 4 0 policy X 3 0 policy X 58 1992794 NYSE X Life Insurance Policy 1 54931 Cash value 4 0 1 0 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 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 A, Line 4 Several changes were made to the Bylaws of Goucher College related to board governance including adding a mandatory retirement age for trustees of 75, revising term length to three years with a four term limit, adding a new category of Charter Trustee, clarifying voting rights and Trustee Emeriti participation, and restricting committee membership to trustees only as required by Maryland state law. In addition, the Audit and Governance Committee was renamed the Audit Committee. Article VII names three officers of the College - the President, Provost and VP for Finance and Administration, whereas previously other vice presidents were named as officers. Article VIII and VII clarifies the responsibility of the president and the board in faculty appointments, promotion, tenure and termination and president's authority in non-officer, senior administrative staff appointments. Lastly, Article XI clarifies the indemnification provision to provide that the board may indemnify senior administrators and employees, in addition to trustees and officers. Form 990, Part VI, Section B, Line 11b After review by the Audit and Governance Committee, the complete Form 990 and Form 990T were distributed electronically 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 and Governance 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 and Governance Committee of the Board of Trustees on May 13, 2021. 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. General Counsel of the College reviews the disclosure forms and reports any disclosures to the Audit and Governance 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 General Counsel. 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 has begun 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 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 Unitrust (1) 1021 Dulaney Valley Road Baltimore 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