2021-05-14T12:59:32-05:00 2020-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2019-07-01 042103558 TRUSTEES OF THE COLLEGE OF THE HOLY CROSS TRUS 5087932514 ONE COLLEGE STREET WORCESTER MA 016102395 DOROTHY A HAUVER VP AND TREASURER 5087932514 2021-05-12 1 ERIN COUTURE P01390592 6177237900 2019 2022-09-23 18:48:47Z COLLEGE OF THE HOLY CROSS DOROTHY A HAUVER ONE COLLEGE STREET WORCESTER MA 016102395 537552788 0 X WWW.HOLYCROSS.EDU X 1843 MA COLLEGE OF THE HOLY CROSS IS A PRIVATE, JESUIT, LIBERAL ARTS COLLEGE (SEE SCHEDULE O). DEDICATED TO THE PURSUIT OF EXCELLENCE IN TEACHING, LEARNING, AND SERVICE OF FAITH AND PROMOTION OF JUSTICE. 45 43 3500 2700 1708273 0 34981534 44461765 214371906 208858523 16480248 11765735 161813 155282 265995501 265241305 66189902 67624653 0 0 113409649 115192531 388663 119548 8313243 79085158 78446591 259073372 261383323 6922129 3857982 1257371030 1320181892 220377960 297846852 1036993070 1022335040 X TO EDUCATE STUDENTS WHO, AS LEADERS IN BUSINESS, PROFESSIONAL, AND CIVIC LIFE, WILL LIVE BY THE HIGHEST INTELLECTUAL AND ETHICAL STANDARDS BY CREATING AN ENVIRONMENT IN WHICH INTEGRATED LEARNING IS A SHARED RESPONSIBILITY LEADING ALL MEMBERS TO MAKE THE BEST OF THEIR OWN TALENTS, TO WORK TOGETHER, TO SERVE OTHERS, AND TO SEEK JUSTICE. 0 0 223515569 67611300 208805555 THE PRIMARY PROGRAM IS UNDERGRADUATE INSTRUCTION IN THE LIBERAL ARTS THAT LEADS TO A BACHELOR OF ARTS DEGREE. THE CURRICULUM INCLUDES PROGRAMS IN THE ARTS, SCIENCES, SOCIAL SCIENCES AND HUMANITIES. SEE DETAIL ON SCHEDULE O. 447312 13353 52968 BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY AND BIOLOGY. THE RESEARCH IS FUNDED BY PRIVATE GRANTS AND THE US GOVERNMENT. 223962881 1 1 0 1 0 0 1 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 4698 0 1 3500 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 45 43 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA NH X CHARLENE BELLOWS 5087933497 ONE COLLEGE STREET WORCESTER MA 016102395 DOROTHY A HAUVER VICE PRESIDENT AND TREASURER 45.00 0.00 X 358245 0 158349 TRACY BARLOK VICE PRESIDENT FOR ADVANCEMENT 45.00 0.00 X 351411 0 63009 TIMOTHY JARRY CHIEF INVEST. OFFICER (THRU 03/2020) 45.00 0.00 X 351878 0 59614 MARGARET FREIJE PROVOST & DEAN OF THE COLLEGE 45.00 0.00 X 302110 0 87212 ALAN AVERY-PECK PROFESSOR 45.00 0.00 X 226533 0 89919 ELIZABETH SMALL GENERAL COUNSEL 45.00 0.00 X 255216 0 56329 WILLIAM CARMODY HEAD BASKETBALL COACH (THRU 10/2019) 45.00 0.00 X 268172 0 42228 MICHELE MURRAY VICE PRESIDENT STUDENT AFFAIRS 45.00 0.00 X 225927 0 47825 THOMAS MARTIN PROFESSOR 45.00 0.00 X 236789 0 36930 FRANK VELLACCIO SENIOR VICE PRESIDENT EMERITUS 45.00 0.00 X 212444 0 56205 BAOZHANG HE PROFESSOR (THRU 09/2019) 45.00 0.00 X 240919 0 13362 JANE E CORR CHIEF OF STAFF & SECRETARY 45.00 0.00 X 192468 0 21569 DANIEL KIM VP COMMUNICATION (THRU 08/2019) 45.00 0.00 X 172668 0 35015 DANIEL RICCIARDI INT. CIO & ASST TREAS(AS OF 03/2020) 45.00 0.00 X 151287 0 48829 MARISA GREGG INT. VP COMM. (AS OF 09/2019) 45.00 0.00 X 155784 0 16122 ELLEN GEORGE BRACKLEY EXEC ASST & ASST SECRETARY 45.00 0.00 X 69112 0 26505 DOUGLAS M BAKER JR TRUSTEE 3.00 0.00 X 0 0 0 MICHAEL G BARRETT TRUSTEE 3.00 0.00 X 0 0 0 REV PHILIP L BOROUGHS SJ PRESIDENT 45.00 0.00 X X 0 0 0 REV MARK G BOSCO SJ TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 HELEN W BOUCHER MD TRUSTEE 3.00 0.00 X 0 0 0 SUSAN POWER CURTIN TRUSTEE 3.00 0.00 X 0 0 0 BRIAN P DUGGAN TRUSTEE (THRU 09/2019) 3.00 0.00 X 0 0 0 SUSAN F FEITELBERG TRUSTEE (THRU 09/2019) 3.00 0.00 X 0 0 0 ANNE M FINK TRUSTEE (THRU 09/2019) 3.00 0.00 X 0 0 0 RICHARD S FLAHERTY TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 REV JAMES G GARTLAND SJ TRUSTEE/VICE CHAIR 3.00 0.00 X X 0 0 0 REV C KEVIN GILLESPIE SJ TRUSTEE 3.00 0.00 X 0 0 0 REV MICHAEL CARL GILSON SJ TRUSTEE 3.00 0.00 X 0 0 0 STUART E GRAHAM TRUSTEE 3.00 0.00 X 0 0 0 STANLEY E GRAYSON TRUSTEE 3.00 0.00 X 0 0 0 MICHAEL GREENE TRUSTEE 3.00 0.00 X 0 0 0 ROBERT A HARRINGTON TRUSTEE 3.00 0.00 X 0 0 0 LOUIS A HURTADO TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 BRODERICK D JOHNSON TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 THOMAS P JOYCE JR TRUSTEE 3.00 0.00 X 0 0 0 REV GREGORY A KALSCHEUR SJ TRUSTEE 3.00 0.00 X 0 0 0 BRIAN P KELLEY TRUSTEE 3.00 0.00 X 0 0 0 JAMES W KEYES TRUSTEE 3.00 0.00 X 0 0 0 LINDA M LEMURA TRUSTEE 3.00 0.00 X 0 0 0 STEPHANIE COLEMAN LINNARTZ TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN A LOVELETTE TRUSTEE 3.00 0.00 X 0 0 0 CHERYL A MARTIN TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 REV MARK S MASSA SJ TRUSTEE (THRU 09/2019) 3.00 0.00 X 0 0 0 SHAUN P MATHEWS TRUSTEE 3.00 0.00 X 0 0 0 ANN MCELANEY-JOHNSON PHD TRUSTEE 3.00 0.00 X 0 0 0 EDWIN J MCLAUGHLIN TRUSTEE 3.00 0.00 X 0 0 0 CHRISTOPHER M MILLARD TRUSTEE 3.00 0.00 X 0 0 0 JAMES F MOONEY III TRUSTEE 3.00 0.00 X 0 0 0 VISAURY MORETA TRUSTEE 3.00 0.00 X 0 0 0 ROBERT F MORIARTY TRUSTEE 3.00 0.00 X 0 0 0 JOHN P MULLMAN TRUSTEE 3.00 0.00 X 0 0 0 REV PETER NGUYEN SJ TRUSTEE 3.00 0.00 X 0 0 0 ANDREW J O'BRIEN TRUSTEE 3.00 0.00 X 0 0 0 RICHARD H PATTERSON TRUSTEE/CHAIR 3.00 0.00 X X 0 0 0 WILLIAM J PHELAN TRUSTEE 3.00 0.00 X 0 0 0 CORNELIUS B PRIOR JR TRUSTEE 3.00 0.00 X 0 0 0 CAROLYN M RISOLI TRUSTEE 3.00 0.00 X 0 0 0 SR BARBARA J ROGERS RSCJ TRUSTEE 3.00 0.00 X 0 0 0 FRANCINE ROSADO-CRUZ TRUSTEE 3.00 0.00 X 0 0 0 MICHAEL H SHANAHAN TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 STEPHEN P SKINNER TRUSTEE 3.00 0.00 X 0 0 0 SUZANNE K STREETER TRUSTEE (AS OF 09/2019) 3.00 0.00 X 0 0 0 JOHN J SUYDAM TRUSTEE 3.00 0.00 X 0 0 0 SEAN TEEBAGY TRUSTEE (THRU 09/2019) 3.00 0.00 X 0 0 0 HON HARRY K THOMAS JR TRUSTEE 3.00 0.00 X 0 0 0 3770963 0 859022 216 0 1 0 DILLER SCOFIDIO RENFRO LLC 601 W 26TH STREET NO 1815 NEW YORK NY 10001 ARCHITECTS 1343781 SKANSKA USA BUILDING INC 389 INTERFACE PKWY 5TH FLOOR PARSIPPANY NJ 07054 CONSTRUCTION MANAGEMENT 736405 CANNON DESIGN 99 SUMMER STREET 600 BOSTON MA 02110 ARCHITECTS 468311 HOLLAND & KNIGHT LLP 10 ST JAMES AVENUE 11TH FLOOR BOSTON MA 02116 LEGAL SERVICES 405223 HIRSCH ROBERTS WEINSTEIN LLP 24 FEDERAL STREET 12TH FLOOR BOSTON MA 02110 INVESTIGATION SERVICES 381529 18 175153 3690168 40596444 19728741 44461765 TUITION AND FEES 611600 172407213 172407213 ROOM AND BOARD 611710 28749061 28749061 SALES OF AUXILLIARY SERVICES 722320 4292459 3582088 710371 ATHLETICS 611710 2255009 2242665 12344 ALL OTHER 611710 1154781 1154781 208858523 4907237 985558 3921679 191382 0 191382 191382 191382 279002476 272143978 6858498 6858498 6858498 131405 175153 167505 -36100 -36100 265241305 208135808 1708273 10935459 75353 75353 64452347 64452347 3096953 3096953 3114206 646245 2073592 394369 136617 136617 83119052 71818532 7269618 4030902 5023121 4345264 441552 236305 17155064 14452145 1773723 929196 6644471 5563072 743352 338047 1740951 6159 1732794 1998 297370 297370 119548 119548 3607488 3607488 4065871 2328741 1420444 316686 220945 171103 44362 5480 7690057 5879652 948370 862035 3660831 1669252 1778813 212766 8606741 7653869 836389 116483 3814157 3341358 246076 226723 605681 559057 34905 11719 6162877 5681633 481244 17757737 16282728 1475009 3426077 51398 3143016 231663 STUDY ABROAD EXPENSES 5182005 5182005 FOOD FOR DINING OPER. 4082889 3629586 194926 258377 LIBRARY COLLECTION 1859662 1859357 305 COST OF MERCH. SOLD 1378105 1249161 124326 4618 4287147 3831294 439525 16328 261383323 223962881 29107199 8313243 15397 7234 41475921 125938013 74542230 65130020 349499 1497961 6628830 6458808 461840 559721 1101536 489601 659556955 312864782 307957101 346692173 81392786 70134841 738048033 697431889 0 0 5397857 5841631 1257371030 1320181892 30498933 39189138 3462626 6364373 137325308 128928048 493469 847679 22500000 82500000 26097624 40017614 220377960 297846852 X 506038754 498847990 530954316 523487050 1036993070 1022335040 1257371030 1320181892 X 3857982 -5872442 -12643570 X 0 1 X 1 1 1 X 38853240 32343574 48095480 34981534 44461765 198735593 38853240 32343574 48095480 34981534 44461765 198735593 33526325 165209268 3844451 4450455 5742961 7940153 4113061 26091081 224826674 988448799 0.73480 0.67010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1187 1187 0 SCHEDULE C, PART II-B: THE COLLEGE PAID MEMBERSHIP DUES OF $79,116 DURING THE FISCAL YEAR TO CERTAIN ORGANIZATIONS WHICH MAY LOBBY ON ITS BEHALF. THE COLLEGE RECEIVED INFORMATION FROM ONE ASSOCIATION THAT DUES OF $1,187 WERE ATTRIBUTABLE TO LOBBYING EXPENDITURES. X 1 1 0 1305460 X X X 0 0 1 X 785851880 4615665 4823833 9295512 21201895 4495329 760298642 783207500 6844390 29517685 9115704 21310201 3291790 785851880 748948135 9704051 56941859 8613563 20612674 3160308 783207500 680992673 12249936 83301496 8133514 16418774 3043682 748948135 721309725 10357509 -20182207 7556453 18979029 3956872 680992673 0.45720 0.28040 0.26240 0 0 5862105 5862105 530918733 221880026 309038707 0 74000969 59932931 14068038 48775148 31051825 17723323 346692173 GLOBAL EQUITY 370508283 F HEDGE FUND ABS. RETURN 132689139 F PRIVATE EQUITY 153073343 F REAL ASSETS 37267289 F OTHER INVESTMENTS 3893835 F 697431889 INTEREST RATE SWAP 10833376 US GOVT REFUNDABLE ADVANCES 5042261 ANNUITY OBLIGATIONS 3806699 ACCRUED PENSION OBLIGATION 20335278 40017614 X 175371715 -5872442 -79204866 -85077308 260449023 4959787 -167505 4792282 265241305 190029727 1195050 1195050 188834677 4959787 67588859 72548646 261383323 PART II, LINE 9: THE COLLEGE HAS NOT RECEIVED ANY GIFT OF PROPERTY SUBJECT TO A CONSERVATION EASEMENT AND THEREFORE DOES NOT REPORT A CONSERVATION EASEMENT IN ITS REVENUE AND EXPENSE STATEMENT OR BALANCE SHEET. TWO OF THE COLLEGE'S BUILDINGS THAT ARE USED FOR ACADEMIC AND ADMINISTRATIVE PURPOSES WERE BUILT IN THE LATE 1800'S AND ARE INCLUDED ON THE HISTORIC REGISTER. PART III, LINE 4: THROUGH BOTH CONTEMPORARY AND HISTORICAL EXHIBITIONS, THE IRIS AND B. GERALD CANTOR ART GALLERY (THE GALLERY) AT HOLY CROSS EDUCATES THE COLLEGE AND WORCESTER COMMUNITIES ABOUT THE FUNDAMENTAL INTELLECTUAL, CULTURAL, SPIRITUAL AND AESTHETIC ISSUES ENCOUNTERED THROUGH VISUAL ART. OPEN FREE TO THE PUBLIC, THE GALLERY SEEKS TO PROMOTE AND SUPPORT THE INTELLECTUAL AND CULTURAL LIFE OF THE COLLEGE THROUGH THE PRESENTATION AND DISCUSSION OF A DIVERSITY OF VISUAL ARTS. THE GALLERY HAS SPECIAL RESPONSIBILITY FOR INTEGRATING THE LIBERAL ART VALUES OF THE COLLEGE AND THE CLASSROOM BY LINKING EXHIBITIONS TO THE BROADER CURRICULUM AND COMMUNITY. PART IV, LINE 2B: AGENCY FUNDS ARE HELD BY THE COLLEGE AS CUSTODIAN OR FISCAL AGENT. FUNDS MAY BE HELD FOR RECOGNIZED FACULTY, STAFF, STUDENT OR ALUMNI ORGANIZATIONS THAT ARE COLLECTED FROM ACTIVITY FEES, DUES OR FUNDRAISING. THE FUNDS ARE DEPOSITED WITH THE COLLEGE FOR SAFEKEEPING TO BE USED OR WITHDRAWN BY THE DEPOSITOR UPON PROPER AUTHORIZATION AND DOCUMENTATION. EXPENDITURES FROM THE FUND ARE USED PRIMARILY TO FUND STUDENT ACTIVITIES, TRIPS AND PROJECTS OF INTEREST TO THE STUDENTS OR TO SUPPORT COLLEGE PROGRAMS. EACH AGENCY FUND IS PROVIDED A UNIQUE COST CENTER ESTABLISHED IN THE COLLEGE FINANCIAL RECORDS. THESE COST CENTERS PROVIDE A SAFE, SECURE AND CONVENIENT METHOD OF ACCOUNTING FOR AND ADMINISTERING THESE FUNDS. ALL CUSTODIAL FUNDS FOLLOW THE EXPENDITURE PROCEDURES OUTLINED BY THE COLLEGE. PART V, LINE 2: THE COLLEGE HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2020 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, THE COLLEGE HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 860 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. THE COLLEGE'S ENDOWMENT FUND SUPPORTS THE FOLLOWING AREAS: FINANCIAL AID FOR STUDENTS, TEACHING, ACADEMIC SUPPORT, STUDENT SERVICES AND ATHLETIC PROGRAMS. PART X, LINE 2: THE COLLEGE IS A TAX EXEMPT ORGANIZATION AS DEFINED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(A) OF THE CODE AND APPLICABLE STATE LAW. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST RATE SWAP AGREEMENT -2,652,080. POST RETIREMENT BENEFIT CHANGES -9,991,472. INTRA-DEPARTMENTAL REVENUES 1,754,497. FINANCIAL AID RECLASS -67,549,300. BAD DEBT EXPENSE -891,000. AMORTIZATION OF ANNUITY OBLIGATION 164,048. NET MISCELLANEOUS -39,559. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -167,505. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTRA-DEPARTMENTAL REVENUES 1,754,497. FUNDRAISING EXPENSE 167,505. BAD DEBT EXPENSE -891,000. AMORTIZATION OF ANNUITY OBLIGATIONS 164,048. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 67,549,300. NET MISCELLANEOUS 39,559. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A SUMMARY OF THE NON-DISCRIMINATION POLICY IS INCLUDED IN PRINT, ELECTRONIC MEDIA, AND ON THE WEBSITE DESCRIBING COLLEGE ADMISSION REQUIREMENTS. SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN THE TITLE IV PROGRAM FOR CAMPUS WORK STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND THE PERKINS LOAN FUND, DIRECT LENDING AND PELL GRANT PROGRAMS. THE COLLEGE IS ALSO PARTICIPATING IN GRANTS WITH THE NATIONAL SCIENCE FOUNDATION TO PROVIDE STEM GRANTS TO STUDENTS STUDYING MATH OR SCIENCES AS A MAJOR. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 24 PROGRAM SERVICES ATTEND COLLEGE ABROAD 3209719 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 806361 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 391680 SOUTH AMERICA 0 2 PROGRAM SERVICES ATTEND COLLEGE ABROAD 292073 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 123525 RUSSIA AND NEIGHBORING STATES 0 2 PROGRAM SERVICES ATTEND COLLEGE ABROAD 40181 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 2730 SOUTH ASIA 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 480 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 3600 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 408750 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 1985478 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 82200 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 61400 SOUTH AMERICA 0 0 GRANTMAKING 511475 SOUTH ASIA 0 0 GRANTMAKING 16550 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 27500 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 110595978 0 28 0 0 0 28 4866749 113692931 118559680 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 88 1985478 0 ACCT CREDIT FMV SCHOLARSHIP SOUTH AMERICA 21 511475 0 ACCT CREDIT FMV SCHOLARSHIP EAST ASIA AND THE PACIFIC 27 408750 0 ACCT CREDIT FMV SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 4 82200 0 ACCT CREDIT FMV SCHOLARSHIP RUSSIA AND NEIGHBORING STATES 1 61400 0 ACCT CREDIT FMV SCHOLARSHIP SUB-SAHARAN AFRICA 1 27500 0 ACCT CREDIT FMV SCHOLARSHIP SOUTH ASIA 1 16550 0 ACCT CREDIT FMV SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 1 3600 0 ACCT CREDIT FMV 1 0 1 1 1 0 PART I, LINE 2: THE COLLEGE MANAGES ALL RELATIONSHIPS WITH INTERNATIONAL HOST INSTITUTIONS DIRECTLY AND CONDUCTS PERIODIC EVALUATIONS OF THE PROGRAMS. STUDENTS ARE BILLED TUITION BY THE COLLEGE. THE COLLEGE MANAGES ALL ASPECTS OF THE PROGRAM AND ITS COSTS PROVIDING FOR ADVISORS, LINGUISTIC SUPPORT AND TUTORIAL ASSISTANCE. PROGRAM COSTS, OTHER THAN SCHOLARSHIPS, ARE TRACKED BY PROGRAM LOCATION. SCHOLARSHIPS ARE PROVIDED TO STUDENTS ATTENDING PROGRAMS ABROAD USING THE SAME METHODOLOGY APPLIED TO STUDENTS WHO ATTEND CLASSES IN THE UNITED STATES AS DESCRIBED ON FORM 990, SCHEDULE I, PART IV. PART I, LINE 3: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. PART III ACCOUNTING METHOD: PART III, LINE 1: THIS AID IS PROVIDED TO RESIDENT AND NON-RESIDENT STUDENTS ATTENDING A STUDY ABROAD PROGRAM. PART III: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. X X X X X X X 1 PLANNED GIVING MARKETING LLC 620 W GERMANTOWN PIKE SUITE 440 PLYMOUTH MEETING PA 19462 PROFESSIONAL SERVICES 0 0 43129 -43129 MARTS & LUNDY INC 160 CHUBB AVE SUITE 303 LYNDHURST NJ 07071 PROFESSIONAL SERVICES 0 0 32090 -32090 CARTER HALLIDAY ASSOCIATES 107 SOUTH STREET 5D BOSTON MA 02111 PROFESSIONAL SERVICES 0 0 24500 -24500 RONALD JOYCE 39 OAKWOOD DR YARMOUTH ME 04096 PROFESSIONAL SERVICES 0 0 12329 -12329 MICHAEL GRINLEY PO BOX 611 GOSHEN MA 01032 PROFESSIONAL SERVICES 0 0 7500 -7500 119548 -119548 CA MA NH GOLF CLASSIC 155500 71750 83750 120302 MENS HOCKEY 50650 27030 23620 20591 2 100408 76373 24035 26612 306558 175153 131405 167505 167505 -36100 1 RENSSELAER POLYTECHNIC UNIVERSITY 110 EIGHT ST TROY NY 12180 141340095 501(C)(3) 13344 RESEARCH UNITED WAY OF CENTRAL MASS INC 448 MAIN ST SUITE 300 WORCESTER MA 01608 042104017 501(C)(3) 30000 WORCESTER TOGETHER: CENTRAL MASS COVID-19 FUND TOWN OF WEST BOYLSTON 127 HARTWELL ST SUITE 100 WEST BOYLSTON MA 01583 046001348 115 12000 PUBLIC LIBRARY SUPPORT CITY OF WORCESTER 455 MAIN ST WORCESTER MA 01608 046001418 115 10000 YOUTH SUMMER PROGRAMS ST JOHN'S FOOD FOR THE POOR 20 TEMPLE ST WORCESTER MA 01604 042106729 501(C)(3) 10000 FOOD BANK SUPPORT 5 SCHOLARSHIP 1862 64452347 SCHEDULE I, PART I, LINE 1: GRANTS PAID BY THE COLLEGE INCLUDE SUBAWARDS OF FEDERAL RESEARCH FUNDS AND SUPPORT OF CERTAIN CHARITABLE ORGANIZATIONS WITHIN THE WORCESTER AREA. THESE GRANTS ARE CLOSELY TIED TO PROMOTING THE COLLEGE'S CHARITABLE AND EDUCATIONAL MISSION AND CONTRIBUTE TO THE ENRICHMENT OF THE GREATER WORCESTER AREA. SCHEDULE I, PART I, LINE 2: THE COLLEGE SUPPORTS A NEED BASED FINANCIAL AID POLICY THAT IS REPRESENTATIVE OF ITS ACADEMIC AND SPIRITUAL GOALS AS AN UNDERGRADUATE, JESUIT, LIBERAL ARTS COLLEGE. THE COLLEGE WILL MEET THE FULL DEMONSTRATED NEED OF EACH STUDENT, AS CALCULATED ACCORDING TO NATIONALLY RECOGNIZED FINANCIAL AID CRITERIA. ALL STUDENTS ARE ENCOURAGED TO APPLY REGARDLESS OF THEIR SOCIO-ECONOMIC BACKGROUND. OVER 50% OF ALL STUDENTS ADMITTED RECEIVE SOME FORM OF FINANCIAL ASSISTANCE. STUDENTS ARE REQUIRED TO MAINTAIN SATISFACTORY ACADEMIC PROGRESS TO RECEIVE AID. X X X X X 0 1 0 0 0 0 0 0 0 DOROTHY A HAUVER VICE PRESIDENT AND TREASURER 337196 0 0 0 21049 0 30942 0 127407 0 516594 0 0 0 TRACY BARLOK VICE PRESIDENT FOR ADVANCEMENT 322253 0 0 0 29158 0 30942 0 32067 0 414420 0 0 0 TIMOTHY JARRY CHIEF INVEST. OFFICER (THRU 03/2020) 350531 0 0 0 1347 0 30942 0 28672 0 411492 0 0 0 MARGARET FREIJE PROVOST & DEAN OF THE COLLEGE 298119 0 0 0 3991 0 30942 0 56270 0 389322 0 0 0 ALAN AVERY-PECK PROFESSOR 202363 0 0 0 24170 0 25158 0 64761 0 316452 0 0 0 ELIZABETH SMALL GENERAL COUNSEL 253577 0 0 0 1639 0 28542 0 27787 0 311545 0 0 0 WILLIAM CARMODY HEAD BASKETBALL COACH (THRU 10/2019) 222817 0 0 0 45355 0 24907 0 17321 0 310400 0 0 0 MICHELE MURRAY VICE PRESIDENT STUDENT AFFAIRS 224789 0 0 0 1138 0 24656 0 23169 0 273752 0 0 0 THOMAS MARTIN PROFESSOR 228757 0 0 0 8032 0 24956 0 11974 0 273719 0 0 0 FRANK VELLACCIO SENIOR VICE PRESIDENT EMERITUS 193636 0 0 0 18808 0 23668 0 32537 0 268649 0 0 0 BAOZHANG HE PROFESSOR (THRU 09/2019) 64926 0 0 0 175993 0 6677 0 6685 0 254281 0 0 0 JANE E CORR CHIEF OF STAFF & SECRETARY 171790 0 0 0 20678 0 19598 0 1971 0 214037 0 0 0 DANIEL KIM VP COMMUNICATION (THRU 08/2019) 140584 0 0 0 32084 0 14811 0 20204 0 207683 0 0 0 DANIEL RICCIARDI INT. CIO & ASST TREAS(AS OF 03/2020) 150692 0 0 0 595 0 15402 0 33427 0 200116 0 0 0 MARISA GREGG INT. VP COMM. (AS OF 09/2019) 155052 0 0 0 732 0 15833 0 289 0 171906 0 0 0 SCHEDULE J, PART I, LINE 4B: THE COLLEGE HAS ESTABLISHED A VOLUNTARY EARLY RETIREMENT PROGRAM FOR TENURED FACULTY MEMBERS WHO HAVE COMPLETED FIFTEEN YEARS OF SERVICE AND ATTAINED THE AGE OF SIXTY-TWO. ELIGIBLE FACULTY MEMBERS ARE ENTITLED TO A PERCENTAGE PAYOUT THAT DECREASES WITH AGE. IN ADDITION, ELIGIBLE FACULTY MEMBERS ARE ABLE TO REMAIN ENROLLED IN THE COLLEGE'S AVAILABLE MEDICAL HEALTH PLANS. BAOZHANG HE RETIRED IN SEPTEMBER 2019 AND RECEIVED $175,280 IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGE'S EARLY RETIREMENT PROGRAM. THERE ARE NO OTHER AMOUNTS TO BE PAID. WILLIAM CARMODY SEPARATED FROM THE ORGANIZATION IN JULY 2019. AS PART OF HIS SEPARATION, HE RECEIVED A CONTINUATION OF CERTAIN BENEFITS IN THE AMOUNT OF $3,792. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). A MDFA 2008A 043431814 57583RUZ6 2008-05-08 45340000 REFUNDING 2007A ISSUE 0 0 0 B MDFA 2016A 043431814 57584XLE9 2016-04-06 42545003 REFUND 2008B ISSUE & CONSTRUCTION 0 0 0 C MDFA 2017A 043431814 57584XR60 2017-06-06 14441700 REFUNDING 2007B ISSUE 0 0 0 D MDFA 2018A 043431814 57584YFT1 2018-06-07 24144512 REFUNDING 2008B ISSUE 0 0 0 A 11915000 45340000 181594 158406 45000000 1 0 1 1 B 1120000 42545003 476785 30004560 12063658 2018 0 1 1 1 C 3880000 14441700 208409 14233291 1 0 1 1 D 2410000 24144512 311467 23833045 1 0 1 1 A 0 1 1 0 1 0 0.00910 0.00910 0 0 1 B 0 1 1 0 0 0 0 1 A 0 0 1 0 1 1 BANK OF AMERICA LLC 28.300000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MDFA 2016A DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2020 SCHEDULE K, PART II, LINE 11: THE OTHER SPENT PROCEEDS FROM THE MDFA 2008A WAS USED TO REFUND THE 2007A BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2016A WAS USED TO REFUND THE 2008B BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2017A WAS USED TO REFUND THE 2007B BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2018A WAS USED TO REFUND THE 2008B BOND ISSUE. NOT REQUIRED NOT REQUIRED 66595 SCHOLARSHIP SCHOLARSHIP KEVIN BLANCHARD OFFICER FAMILY 79371 EMPLOYMENT 0 JEFFREY BARLOK KEY EE FAMILY 57246 EMPLOYMENT 0 AE INDUSTRIAL PARTNERS LP TRUSTEE MANAG PTR. 100000 INVESTMENT & FEES 0 SCHEDULE L, PART IV, LINE 1: KEVIN BLANCHARD, AN EMPLOYEE OF THE COLLEGE IS RELATED TO AN OFFICER AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES TOTALING $79,371 DURING FISCAL YEAR 2020.JEFFREY BARLOK, AN EMPLOYEE OF THE COLLEGE IS RELATED TO A KEY EMPLOYEE AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES TOTALING $57,246 DURING FISCAL YEAR 2020. SCHEDULE L, PART IV, LINE 3: AE INDUSTRIAL PARTNERS, LP IS A 35% CONTROLLED ENTITY OF A COLLEGE TRUSTEE. MANAGEMENT AND INCENTIVE FEES PAID BY THE COLLEGE TO AE INDUSTRIAL PARTNERS, LP FOR THE YEAR ENDED 6/30/2020 WERE $100,000. X 125 19728741 COST 3 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE TO THE COLLEGE. FORM 990, PART III, LINE 4A: THE PRIMARY PROGRAM IS UNDERGRADUATE INSTRUCTION IN THE LIBERAL ARTS THAT LEADS TO A BACHELOR OF ARTS DEGREE. THE CURRICULUM INCLUDES PROGRAMS IN THE ARTS, SCIENCES, SOCIAL SCIENCES AND HUMANITIES. THE PROGRAM EMPHASIZES ACADEMIC BREADTH AND DEPTH SUPPORTED BY ESSENTIAL FOUNDATIONAL SKILLS, SUCH AS CRITICAL THINKING, CLEAR COMMUNICATION, AND CAREFUL ANALYSIS AND SYNTHESIS OF INFORMATION, THAT ARE RELEVANT IN EVERY LINE OF WORK AND STUDY. OF THE 7,200 STUDENTS WHO APPLIED FOR THE FIRST-YEAR CLASS THAT ENROLLED IN FALL 2019 (FISCAL 2020), THIRTY-FOUR PERCENT (OR 2,464) WERE ADMITTED AND 829 OPTED TO ENROLL. THE ENTERING CLASS WAS FORTY FOUR PERCENT MEN AND FIFTY SIX PERCENT WOMEN AND REPRESENTED STUDENTS FROM 38 STATES, TERRITORIES, THE DISTRICT OF COLUMBIA AS WELL AS NINE FOREIGN COUNTRIES. FULL-TIME ENROLLMENT TOTALED 3,142 IN FALL 2019, WITH 708 STUDENTS GRADUATING DURING THE FISCAL YEAR, NEARLY ALL IN MAY 2020. APPROXIMATELY TWENTY FOUR PERCENT OF THE COLLEGE'S FULL-TIME ENROLLMENT CONSISTED OF STUDENTS OF COLOR AND AN ADDITIONAL THREE PERCENT WERE INTERNATIONAL STUDENTS. FORM 990, PART VI, SECTION A, LINE 1 THE COLLEGE'S EXECUTIVE COMMITTEE IS SUBORDINATE TO THE BOARD OF TRUSTEES. HOWEVER, BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, THE EXECUTIVE COMMITTEE HAS ALL THE POWERS AND DUTIES OF THE BOARD OF TRUSTEES EXCEPT TO APPROVE OR AUTHORIZE CHANGES IN THE ARTICLES OF INCORPORATION OR BYLAWS; TO REMOVE OR ELECT OFFICERS OF THE CORPORATION OR THE PRESIDENT OF THE COLLEGE; TO EFFECT ANY MAJOR CHANGE IN THE NATURE OF THE OPERATIONS OF THE COLLEGE; TO AUTHORIZE ANY MORTGAGE OR ENCUMBRANCE ON ALL OR ANY SUBSTANTIAL PART OF THE PROPERTY OF THE CORPORATION; OR TO CONFER HONORS OR DEGREES. EXECUTIVE COMMITTEE MEMBERS ARE MEMBERS OF THE BOARD OF TRUSTEES. THE COMMITTEE FOR THE YEAR ENDED JUNE 30, 2020 INCLUDED; REV. PHILIP L. BOROUGHS, S.J., HELEN W. BOUCHER, M.D., REV. JAMES G. GARTLAND, S.J., RICHARD H. PATTERSON AND JAMES F. MOONEY III. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS PROVIDED TO THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK OF THE BOARD OF TRUSTEES SUFFICIENTLY IN ADVANCE OF THE FILING DEADLINE TO ENABLE A DETAILED AND CONSCIENTIOUS REVIEW BY ALL MEMBERS OF THE COMMITTEE WITH MANAGEMENT AND THE COLLEGE'S TAX ADVISOR. ALL QUESTIONS AND CONCERNS OF THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK MEMBERS ARE ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK REVIEW, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH THE COMPLETED FORM 990 IN ADVANCE OF THE FILING DEADLINE VIA A DEDICATED COLLEGE WEBSITE. ALL QUESTIONS AND CONCERNS OF THE MEMBERS OF THE BOARD OF TRUSTEES ARE ADDRESSED BY THE COLLEGE TREASURER AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER ALL INPUT FROM THE BOARD OF TRUSTEES AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK HAS BEEN APPROPRIATELY ADDRESSED, THE TREASURER OF THE COLLEGE AUTHORIZES THE COLLEGE'S TAX ADVISOR TO FILE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES ASSUME RESPONSIBILITY FOR CONSIDERING POSSIBLE CONFLICTS OF INTEREST THAT ARISE DURING SERVICE WITH THE COLLEGE. TO HELP OFFICERS, TRUSTEES, AND KEY EMPLOYEES IDENTIFY POSSIBLE CONFLICTS OF INTEREST, THE COLLEGE HAS DEVELOPED A DISCLOSURE FORM THAT MUST BE COMPLETED AND UPDATED AT LEAST ANNUALLY DURING THE COURSE OF THEIR SERVICE. OFFICERS, TRUSTEES, AND KEY EMPLOYEES MUST ALSO DISCLOSE ANY CONFLICT OF INTEREST AS SOON AS THEY BECOME AWARE OF ANY CONFLICT. THE COLLEGE'S GENERAL COUNSEL WILL REVIEW THE DISCLOSURES AND REPORT CONFLICTS OF INTEREST TO THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK CONSIDERS THE BEST INTERESTS OF THE COLLEGE AND THE NATURE OF THE CONFLICT. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK EVALUATES THE CIRCUMSTANCES OF THE ISSUE OR TRANSACTION TO ENSURE THAT IT IS REASONABLE AND THAT THEY HAVE CONSIDERED ANY POTENTIAL IMPLICATIONS OF ENTERING INTO A TRANSACTION OR DECIDING AN ISSUE WHERE A CONFLICT EXISTS. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK MAY CONSIDER WHETHER ADVICE FROM LEGAL COUNSEL OR OTHER INDEPENDENT ADVISORS IS NECESSARY IN PARTICULAR INSTANCES. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK WILL DELIBERATE ON THE REPORTED CONFLICT AND VOTE TO MAKE ONE OF TWO DETERMINATIONS: THAT NO MATERIAL CONFLICT OF INTEREST EXISTS AND NO ACTION IS NECESSARY OR THAT A MATERIAL CONFLICT OF INTEREST DOES EXIST AND DETERMINE HOW TO ADDRESS THE IDENTIFIED CONFLICT. THESE FINDINGS WILL BE COMMUNICATED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE BOARD MEETING MINUTES SHALL REFLECT THE NATURE OF THE CONFLICT AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK'S DETERMINATION WITH RESPECT TO THE SPECIFIC PROCEDURES THE MEMBER WILL FOLLOW REGARDING THE ISSUE OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE BYLAWS (ARTICLE 2, SECTION 6) OF THE COLLEGE ESTABLISH THAT THE BOARD OF TRUSTEES HAS THE AUTHORITY TO HIRE, EMPLOY, AND SET THE REMUNERATION OF THE PRESIDENT AND OFFICERS OF THE CORPORATION. THE EXECUTIVE COMMITTEE, AN INDEPENDENT AUTHORIZED BODY OF THE BOARD OF TRUSTEES, HAS BEEN ASSIGNED THE RESPONSIBILITY FOR EVALUATING COMPENSATION REASONABLENESS FOR ALL OFFICERS AND HIGHLY PAID EMPLOYEES. THE EXECUTIVE COMMITTEE IS COMPOSED OF FIVE TO SIX MEMBERS AND INCLUDES THE PRESIDENT WHO IS EX-OFFICIO CHAIR AND A MEMBER OF THE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE ENTIRE COMPENSATION PACKAGE INCLUDING BENEFITS BY ASSESSING THE NATURE AND SCOPE OF EACH POSITION, ASSESSING THE INDIVIDUALS HOLDING EACH POSITION INCLUDING THEIR UNIQUE BACKGROUND, EXPERIENCE, PERSONAL SKILLS, PERFORMANCE AND BY OBTAINING APPROPRIATE AND COMPARABLE COMPENSATION MARKET DATA FROM SIMILARLY SITUATED ORGANIZATIONS, BOTH FOR-PROFIT AND TAX EXEMPT FOR FUNCTIONALLY COMPARABLE POSITIONS INCLUDING COMPARATIVE DATA FROM OTHER COLLEGES AND UNIVERSITIES, MARKET SURVEYS AND INDEPENDENT COMPENSATION SURVEYS BY NATIONALLY RECOGNIZED INDEPENDENT FIRMS. IN ADDITION, THE EXECUTIVE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT ANNUALLY, TO REVIEW EXECUTIVE COMPENSATION. THE EXECUTIVE COMMITTEE DELIBERATES THE INFORMATION PROVIDED AND RELATIVE CONTRIBUTION OF EACH INDIVIDUAL BEFORE VOTING ON A COMPENSATION PACKAGE. COMPENSATION FOR THE PRESIDENT, A MEMBER OF THE SOCIETY OF JESUS, IS PAID DIRECTLY TO HIS ORDER. RECORDS OF THE EXECUTIVE COMMITTEE ARE ADEQUATELY DOCUMENTED. THE LAST COMPENSATION STUDY WAS PERFORMED IN MAY OF 2019. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. THE COLLEGE'S FINANCIAL STATEMENTS ARE POSTED ON THE COLLEGE WEBSITE UNDER THE OFFICE OF THE CONTROLLER. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST SWAP AGREEMENT -2,652,080. POST RETIREMENT BENEFIT CHANGES -9,991,472. OTHER -18. QUINSIGAMOND VILLAGE LLC ONE COLLEGE STREET WORCESTER MA 01610 464605316 REAL ESTATE MA 1190000 HOLY CROSS CHARITABLE REMAINDER TRUSTS (9) ONE COLLEGE STREET WORCESTER AL 01610 CHAR REMAINDER MA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0