2021-04-20T07:57:39-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-07-01 240795686 LAFAYETTE COLLEGE LAFA 6103305136 730 SULLIVAN ROAD 030 MARQUIS HALL EASTON PA 180421778 ANDREA BOHN ASSISTANT VP AND CONTROLLER 6103303208 2021-04-19 1 KAREN GRIES P00078514 6123764500 2021-04-19 2019 2022-09-23 18:48:47Z DR ALISON BYERLY 730 SULLIVAN ROAD 030 MARQUIS HALL EASTON PA 180421778 969424566 0 X WWW.LAFAYETTE.EDU X 1826 PA PROVISION OF EDUCATIONAL SERVICES AS AN ACCREDITED FOUR-YEAR UNDERGRADUATE COLLEGE. 35 34 2628 3527 -159686 0 31281134 20135118 174963552 175394687 24186162 29775451 4250746 3155084 234681594 228460340 52048794 56678768 0 0 94698185 96397351 257388 163391 5616490 82791114 75351386 229795481 228590896 4886113 -130556 1387145011 1381563896 385773860 376262651 1001371151 1005301245 X SEE SCHEDULE O 0 0 164767590 56678767 146577636 LAFAYETTE COLLEGE IS A LIBERAL ARTS COLLEGE OFFERING BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN FOUR DISCIPLINES IN HUMANITIES, ENGINEERING, NATURAL SCIENCES, AND SOCIAL SCIENCES. IN FALL 2019, THE 2,633 FULL-TIME STUDENTS CAME FROM 31 STATES AND 27 COUNTRIES. THE STUDENT-TO-FACULTY RATIO AT THE COLLEGE IS APPROXIMATELY 10 TO 1. 240 OF THE 243 FULL-TIME FACULTY HOLD A DOCTORATE OR OTHER TERMINAL DEGREE. APPROXIMATELY 47% OF THE STUDENTS ATTENDING LAFAYETTE COLLEGE RECEIVE FINANCIAL ASSISTANCE. 642 STUDENTS WERE AWARDED AN UNDERGRADUATE DEGREE. LAFAYETTE COLLEGE HAS A FOUR-YEAR GRADUATION RATE OF 84% AND SIX-YEAR GRADUATION RATE OF 88%. APPROXIMATELY 97% OF THE COLLEGE'S GRADUATES WERE EMPLOYED, IN GRADUATE SCHOOL, OR SECURED INTERNSHIPS WITHIN 6 MONTHS AFTER GRADUATION. 30218000 0 28817051 AS A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS COMPLEMENT THEIR ACADEMIC SCHOLARSHIP WITH A MYRIAD OF OPPORTUNITIES TO CONNECT WITH ONE ANOTHER AND LEARN FROM THE LARGE WORLD REPRESENTED ON THE COLLEGE'S CAMPUS. AS PART OF THEIR EXPERIENCE AT A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS ARE DEEPLY ENGAGED ACADEMICALLY AND HAVE SIGNIFICANT OPPORTUNITIES TO ENGAGE IN A VAST OFFERING OF EXTRACURRICULAR AND CO-CURRICULAR POSSIBILITIES. LAFAYETTE COLLEGE OFFERS MORE THAN 250 STUDENT CLUBS AND ORGANIZATIONS, 23 NCAA DIVISION 1 ATHLETIC PROGRAMS, AND NUMEROUS EXPERIENCES IN THE FINE ARTS AND PERFORMING ARTS ALL OF WHICH ARE COMPLEMENTED BY A STRONG STUDENT LIFE PROGRAM THAT ENHANCES THE LAFAYETTE EXPERIENCE BEYOND THE CLASSROOM. 194985590 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 4189 0 2628 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 35 34 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X CRAIG BECKER 6103305957 730 SULLIVAN ROAD 030 MARQUIS HALL EASTON PA 180421798 ALISON R BYERLY PRESIDENT 50.00 X X 816569 0 100911 JOSEPH S BOHRER CHIEF INVESTMENT OFFICER 50.00 X 516641 0 37178 ROGER A DEMARESKI VP OF FINANCE & ADMINISTRATION/TREASURER 50.00 X 476875 0 50491 SAIYID A RIZVI PROVOST 50.00 X 454081 0 48894 MERVIN A BURTON DIRECTOR OF INVESTMENTS 50.00 X 425830 0 32048 LESLIE F MUHLFELDER VP OF HUMAN RESOURCES & GENERAL COUNSEL 50.00 X 348835 0 78530 KIMBERLY A SPANG VP OF DEVELOPMENT & COLLEGE RELATIONS 50.00 X 360966 0 60753 GREGORY V MACDONALD VP OF ENROLLMENT MANAGEMENT 50.00 X 266703 0 151542 CRAIG BECKER ASSOC VP FOR FINANCE, PLANNING & CAPITAL BUDGET 50.00 X 284410 0 49134 LI ZHAO INVESTMENT ASSOCIATE 50.00 X 278884 0 30276 BRUCE A MURPHY KIRBY PROFESSOR OF GOVERNMENT & LAW 50.00 X 258518 0 46312 JOHN E MEIER PROVOST 50.00 X 268394 0 32226 FRANCIS B O'HANLON HEAD MEN'S BASKETBALL COACH 50.00 X 253413 0 46593 JOHN KINCAID PROFESSOR/DIRECTOR OF MEYNER CENTER 50.00 X 248567 0 34571 JOHN L O'KEEFE VP & CHIEF INFORMATION OFFICER 50.00 X 233069 0 43523 ANNETTE DIORIO VP OF CAMPUS LIFE/SR. DIVERSITY OFFICER 50.00 X 231455 0 32647 MARK EYERLY VP FOR MARKETING & COMMUNICATIONS 50.00 X 221991 0 40798 ALMA SCOTT-BUCZAK ASSOC VP FOR HUMAN RESOURCES 50.00 X 200306 0 34212 ROBERT E SELL CHAIR 5.00 X X 0 0 0 LINDA ASSANTE CARRASCO VICE CHAIR 5.00 X X 0 0 0 ANGEL L MENDEZ SECRETARY 5.00 X X 0 0 0 EDWARD W AHART EXECUTIVE COMMITTEE 3.00 X 0 0 0 SAMUEL R CHAPIN EXECUTIVE COMMITTEE 3.00 X 0 0 0 ANTONIO F FERNANDEZ EXECUTIVE COMMITTEE 3.00 X 0 0 0 SUSAN L FOX EXECUTIVE COMMITTEE 3.00 X 0 0 0 LEO A HELMERS EXECUTIVE COMMITTEE 3.00 X 0 0 0 NANCY J KUENSTNER EXECUTIVE COMMITTEE 3.00 X 0 0 0 BARBARA LEVY EXECUTIVE COMMITTEE 3.00 X 0 0 0 JUDSON C LINVILLE EXECUTIVE COMMITTEE 3.00 X 0 0 0 PAMELA S PASSMAN EXECUTIVE COMMITTEE 3.00 X 0 0 0 JB REILLY EXECUTIVE COMMITTEE 3.00 X 0 0 0 JAMES L BENJAMIN TRUSTEE 2.00 X 0 0 0 JAMES R BIRLE JR TRUSTEE 2.00 X 0 0 0 HARRY S CHERKEN TRUSTEE 2.00 X 0 0 0 SEBASTIAN J CRAPANZANO TRUSTEE 2.00 X 0 0 0 TANUJA MAJUMDAR DEHNE TRUSTEE 2.00 X 0 0 0 JOHN A FRY TRUSTEE 2.00 X 0 0 0 MICHAEL C HEANEY TRUSTEE 2.00 X 0 0 0 HAROLD N KAMINE TRUSTEE 2.00 X 0 0 0 LISA J KASSEL TRUSTEE 2.00 X 0 0 0 JEFFERSON W KIRBY TRUSTEE 2.00 X 0 0 0 CLAUDINE D LILIEN TRUSTEE 2.00 X 0 0 0 KEVIN R MANDIA TRUSTEE 2.00 X 0 0 0 D CHRISTIAN MCCUMBER TRUSTEE 2.00 X 0 0 0 CYNTHIA Y PAIGE TRUSTEE 2.00 X 0 0 0 JOSE A RODRIGUEZ TRUSTEE 2.00 X 0 0 0 DAVID M ROTH ESQ TRUSTEE 2.00 X 0 0 0 PETER S RUGGIERO TRUSTEE 2.00 X 0 0 0 LAUREN A STEINITZ TRUSTEE 2.00 X 0 0 0 WYNNE A WHITMAN TRUSTEE 2.00 X 0 0 0 ALVIN M YEARWOOD TRUSTEE 2.00 X 0 0 0 6145507 0 950639 192 0 1 0 TURNER CONSTRUCTION COMPANY 1500 SPRING GARDEN STREET SUITE 22 PHILADELPHIA PA 19130 CONSTRUCTION 13409058 BON APPETIT MANAGEMENT COMPANY 2400 YORKMONT ROAD CHAROLOTTE NC 28217 DINING SERVICES 7838988 ALLIED BUILDING CORP 74 WEST BROAD STREET SUITE 200 BETHLEHEM PA 18018 CONSTRUCTION 2040517 DEL VALLEY PROPERTIES INC 11 CHASE HOLLOW ROAD HOPEWELL NJ 08525 CONSTRUCTION 1893738 MCFALL LAYMAN & JORDAN PC 134 BROADWAY BANGOR PA 180132506 LEGAL SERVICES 1827106 62 2078388 18056730 20135118 TUITION AND FEES 611710 145631686 145631686 AUXILIARY SERVICES 611710 28817051 28817051 ATHLETICS/SPORTS NETWO 611710 945950 945950 175394687 -34268727 -158062 -34110665 813399 399618 413781 413781 413781 802994010 738443100 506732 64550910 -506732 64044178 64044178 1416754 1614776 -198022 -14812 -183210 INVESTMENT INCOME, REB 900099 2308327 2308327 FEES, FINES AND COST R 900099 630998 13188 617810 2939325 228460340 175394687 -159686 33090221 63100 63100 56615668 56615668 4097548 484280 3293248 320020 69886794 58118790 8826325 2941679 6386971 5048681 1006483 331807 10797069 8512605 1718069 566395 5228969 4133321 824000 271648 903925 66594 813453 23878 157779 157779 163391 163391 612012 612012 12535906 10308684 2191232 35990 75972 65723 9449 800 2177747 1574316 361881 241550 2793074 500756 2146733 145585 4291465 3920297 371168 4570885 4133866 304941 132078 1265126 620114 277293 367719 10294186 9911919 382267 15646141 13593243 2052898 1800034 490352 1309682 AUXILIARY SERVICES 8158414 8158414 NON OFFICE SUPPLIES 2942104 2937054 5033 17 ALLOCATION OF INDIRECT 0 -655329 655329 7126616 6383142 669541 73933 228590896 194985590 27988816 5616490 56024 12292 62579195 66897772 24516328 15032538 3834603 2468595 733867 659226 2026942 1976627 666240517 269735436 381747925 396505081 236430239 219502151 653215405 674745193 2769173 2492613 19235310 1271808 1387145011 1381563896 20145066 12142394 1279224 882491 2729588 5520221 272340932 270592055 3299596 3618441 4167423 3429480 81812031 80077569 385773860 376262651 X 301029540 319043875 700341611 686257370 1001371151 1005301245 1387145011 1381563896 X -130556 -531719 4592369 X 0 1 X 1 1 1 X 27747289 40798536 33481862 31244561 20135118 153407366 27747289 40798536 33481862 31244561 20135118 153407366 11933498 141473868 9000126 9391557 23653817 1993336 -33296726 10742110 88267 88267 867269 1832825 2982683 3842479 2926137 12451393 176689136 832966295 0.80070 0.67850 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FEES FINES COST RECOVERY - 2015 AMOUNT: $ 503,417. 2016 AMOUNT: $ 418,255. 2017 AMOUNT: $ 613,962. 2018 AMOUNT: $ 615,534. 2019 AMOUNT: $ 617,810. INVESTMENT INCOME REBATES COMMISSIONS AND OTHER - 2015 AMOUNT: $ 363,852. 2016 AMOUNT: $ 1,414,570. 2017 AMOUNT: $ 2,368,721. 2018 AMOUNT: $ 3,226,945. 2019 AMOUNT: $ 2,308,327. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 1 66438 0 0 66438 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE AMERICAN COUNCIL ON EDUCATION, THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF PENNSYLVANIA, THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES AND THE LEHIGH VALLEY ASSOCIATION OF INDEPENDENT COLLEGES. THROUGH THESE ORGANIZATIONS, THE COLLEGE MAY, FROM TIME TO TIME, LOBBY THE CITY OF EASTON, THE COMMONWEALTH OF PENNSYLVANIA OR THE FEDERAL GOVERNMENT IN SUPPORT OF HIGHER EDUCATION ISSUES AND LEGISLATION OR IN THE ASSISTANCE IN PROCURING GRANTS. THE COLLEGE NEITHER EMPLOYS A LOBBYIST OR LOBBYING FIRM NOR INCURS LOBBYING EXPENSES FOR LEGISLATION ON THE COLLEGE'S BEHALF. THE COLLEGE EMPLOYS THE DELTA DEVELOPMENT GROUP FOR ASSISTANCE IN SECURING FEDERAL AND STATE GRANTS. 3031800 10521765 X X X X 0 0 1 X 861783526 18379803 26736866 8842283 32165568 2985851 862906493 870744623 18402651 16998749 8817916 32433775 3110806 861783526 833069757 21306093 59205615 8175815 31783314 2877713 870744623 774730899 11203342 88282832 8041278 30368897 2737141 833069757 809061387 13123784 -7354992 7654691 28795873 3648716 774730899 0.25260 0.45360 0.29380 1 0 10001739 10001739 490302311 178831501 311470810 66368085 32073010 34295075 80433320 58830925 21602395 19135062 19135062 396505081 EQ. INSTIT. MUTUAL FUNDS 9941723 F EVENT DRIVED/DISTRESSED 26613129 F LONG/SHORT EQUITY 412758329 F MULTI-STRAT/ABS RETURN 96767606 F REAL ESTATE 2810845 F PRIVATE EQUITY 125853561 F 674745193 DEFERRED GIVING LIABILITY 19047932 POST RETIREMENT BENEFITS 41141000 COND. ASSET RETIREMENT OBLIGATION 1935585 INT. RATE HEDGE/SWAP AGREEMENTS 17953052 80077569 X 177948548 -531719 -51382455 -51914174 229862722 612012 -2014394 -1402382 228460340 174209951 2014394 2014394 172195557 612012 55783327 56395339 228590896 PART IV, LINE 2B: THE COLLEGE MAINTAINS AGENCY FUNDS FOR THE INVESTMENT CLUB AND THE ALUMNI ASSOCIATION. PART V, LINE 4: THE INTENT OF THE COLLEGE'S INVESTMENT GUIDELINES FOR ITS ENDOWMENT IS TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO THE COLLEGE'S PROGRAMS FROM THE ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 1,300 ENDOWED FUNDS THAT ARE ESTABLISHED FOR A VARIETY OF PURPOSES. ENDOWMENT CONTRIBUTIONS INCLUDE GIFTS AS WELL AS TRANSFERS TO BOARD DESIGNATED FUNDS. EARNINGS ON ENDOWMENT FUNDS ARE DESIGNATED FOR SCHOLARSHIPS, PROFESSORSHIPS, CHAIRS, STUDENT LOANS, INSTRUCTIONAL PROGRAMS, LIBRARY PURCHASES, GENERAL OPERATIONS, AND OTHER DESIGNATED PURPOSES. PART X, LINE 2: THE COLLEGE'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE/BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON TECHNICAL MERITS. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS -55,974,824. CHANGE IN ANNUITIES PAYABLE ESTIMATE 2,868,959. CHANGE IN FV OF INTEREST RATE HEDGE/SWAP AGREEMENTS -3,687,590. CHANGE IN POST RETIREMENT BENEFIT COST 5,411,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL REVENUES TO EXTENT EXPENDED -399,618. COLLEGE STORE (COGS) REVENUES TO EXTENT EXPENDED -1,614,776. DIRECT SPECIAL EVENT EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL REVENUES TO EXTENT EXPENDED 399,618. COLLEGE STORE (COGS) REVENUES TO EXTENT EXPENDED 1,614,776. DIRECT SPECIAL EVENT EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FELLOWSHIPS 55,974,824. NONOPERATING EXPENSES -191,497. FORM 990, SCHEDULE D, PART III, LINE 4 AMONG THE RICH RESOURCES PROVIDED FOR STUDENTS IS A FINE, SMALL ART COLLECTION. THE COLLECTION INCLUDES EIGHTEENTH-THROUGH EARLY TWENTY-FIRST CENTURY AMERICAN AND EUROPEAN PAINTINGS, PRINTS, AND SCULPTURE; VINTAGE PHOTOGRAPHS; AND CONTEMPORARY AMERICAN SCULPTURE AND PAINTINGS. RECENT ACQUISITIONS BUILD ON THE STRENGTH OF THE EXISTING COLLECTIONS. THE MISSION STATEMENT FOR THE ART COLLECTIONS IS TO DOCUMENT, PRESERVE FOR FUTURE GENERATIONS, EXHIBIT, AND MAKE ACCESSIBLE THE COLLEGE'S ART COLLECTION TO THE STUDENTS, PUBLIC, AND SCHOLARS THROUGH EXHIBITIONS, PUBLICATIONS, REPRODUCTIONS, AND BY GRANTING ACCESS FOR RESEARCH PURPOSES. THE ADMINISTRATION OF THE ART COLLECTION COMPLIES WITH MUSEUM-FIELD WIDE STANDARDS OF CARE (SEE AMERICAN ALLIANCE OF MUSEUMS, AAM). STUDENTS HAVE CURATED EXHIBITIONS FROM THE COLLECTIONS; WHEN APPROPRIATE, ARTWORK IS LOANED TO OTHER INSTITUTIONS FOR EXHIBITIONS OF SCHOLARLY IMPORTANCE; IMAGES OF ARTWORK ARE READILY AVAILABLE FOR REPRODUCTIONS IN COMMERCIAL (EX: TEXT BOOKS) AND ACADEMIC-SCHOLARLY PUBLICATIONS (GENERALLY AT NO CHARGE OR A NOMINAL FEE). THE LAFAYETTE COLLEGE'S SPECIAL COLLECTIONS AND COLLEGE ARCHIVES ARE HOME TO APPROXIMATELY 20,000 RARE BOOKS AND MORE THAN 2,000 CUBIC FEET OF MANUSCRIPTS AND ARCHIVES. THE HOLDINGS INCLUDE MANUSCRIPTS, RARE BOOK COLLECTIONS ON STEPHEN CRANE, ANGLING, MINIATURE BOOKS, AND ARTISTS' BOOKS; PAPERS OF FORMER TREASURY SECRETARY WILLIAM E. SIMON, NEW JERSEY GOVERNOR ROBERT E. MEYNER AND CONGRESSWOMAN HELEN MEYNER; THE EARLY RECORDS OF THE EASTON-BASED DIXIE CUP COMPANY AND THE PAPERS OF NOTED ILLUSTRATOR AND ARTIST HOWARD CHANDLER CHRISTY. THE COLLEGE ARCHIVES SERVE AS THE REPOSITORY FOR THE RECORDS OF LAFAYETTE COLLEGE, DATING BACK TO THE FOUNDING OF THE COLLEGE IN 1824-1826. IT IS CHARGED WITH RECORDS MANAGEMENT RESPONSIBILITIES FOR CURRENT COLLEGE RECORDS. THE ARCHIVES ALSO INCLUDE MORE THAN 50,000 PHOTOGRAPHS, AUDIO-VISUAL RECORDINGS, AND OBJECTS THAT DOCUMENT THE COLLEGE'S HISTORY. THE DEPARTMENT OF GEOLOGY AND ENVIRONMENTAL GEOSCIENCE HOUSES THE COLLEGE'S MINERAL, GEM, AND FOSSIL COLLECTION THAT CONSISTS OF MORE THAN 10,000 SPECIMENS. THE COLLECTION WAS STARTED OVER A CENTURY AGO AND HAS GROWN THROUGH THE GIFTS OF MANY PRIVATE COLLECTIONS. THE COLLECTION IS HOUSED IN VAN WICKLE HALL AND A LARGE NUMBER OF SPECIMENS ARE ON DISPLAY IN THE GEOLOGY MUSEUM IN THE CENTER OF VAN WICKLE HALL. THE COLLECTION IS MANAGED BY A PROFESSIONAL CURATOR WHO WORKS PART TIME TO CURATE THE COLLECTION AND CYCLE MINERALS FROM STORAGE THROUGH THE DISPLAY CASES. THE GROWTH AND MAINTENANCE OF THE COLLECTION IS PARTIALLY SUPPORTED BY AN ENDOWED FUND GIFTED BY JOHN POHL ALONG WITH THE DONATION OF HIS MINERAL COLLECTION IN 1952. THE COLLECTION HAS GROWN SIGNIFICANTLY DURING THE PAST 10 YEARS WITH DONATIONS TOTALING MORE THAN 1,000 SPECIMENS FROM SEVERAL DONORS. THE CENTERPIECE OF THE COLLECTION IS A TWO-TON PIECE OF ORBUCULAR GRANODIORITE QUARRIED IN WESTERN AUSTRALIA. THE GRANITOID FORMED IN A MAGMA CHAMBER 2.7 BILLION YEARS AGO AND THE ORBICULAR TEXTURE EARNED IT THE INFORMAL NAME OF THE LEOPARD ROCK. THE COLLECTION IS ENJOYED BY THE LAFAYETTE COMMUNITY, ELEMENTARY AND SECONDARY STUDENTS, YOUTH GROUPS, AND THE COMMUNITY AT LARGE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE SUPPLEMENTAL PAGE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID AND ASSISTANCE FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL GRANT PROGRAMS INCLUDE PELL GRANTS, DIRECT LOAN PROGRAMS, WORK-STUDY, THE PERKINS LOAN PROGRAM, AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS. STATE PROGRAMS INCLUDE THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY. IN ADDITION, THE COLLEGE IS AWARDED RESEARCH GRANTS AND OTHER PROJECT GRANTS BY VARIOUS FEDERAL AND STATE AGENCIES. FORM 990, SCHEDULE E, PART I, LINE 3 THE COLLEGE'S RACIAL NONDISCRIMINATORY POLICY IS PUBLICIZED WITHIN THE COLLEGE'S CATALOG WHICH CAN BE FOUND AT HTTP://CATALOG.LAFAYETTE.EDU/. IN ADDITION, THE COLLEGE HAS A SEPARATE DIVERSITY AND INCLUSIVENESS STATEMENT WHICH IS ALSO INCLUDED WITHIN THE COLLEGE'S CATALOG AT HTTP://CATALOG.LAFAYETTE.EDU/. 1 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 290303914 EUROPE 0 0 INVESTMENTS 6236420 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC SUPPORT 25 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES INSTRUCTION 46072 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES RESEARCH 423 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC SUPPORT 1680 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INSTRUCTION 47724 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 3518 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT SERVICES 7282 EUROPE 0 0 PROGRAM SERVICES ACADEMIC SUPPORT 11530 EUROPE 0 0 PROGRAM SERVICES INSTRUCTION 1181966 EUROPE 0 0 PROGRAM SERVICES RESEARCH 39712 EUROPE 0 0 PROGRAM SERVICES STUDENT SERVICES 20840 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC SUPPORT 141 NORTH AMERICA 0 0 MANAGEMENT AND GENERAL INSTITUTIONAL SUPPORT 45 NORTH AMERICA 0 0 PROGRAM SERVICES INSTRUCTION 1224 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 3791 NORTH AMERICA 0 0 PROGRAM SERVICES STUDENT SERVICES 4741 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC SUPPORT 25 SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 441 SOUTH ASIA 0 0 PROGRAM SERVICES INSTRUCTION 1778 SOUTH ASIA 0 0 PROGRAM SERVICES STUDENT SERVICES 4638 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INSTRUCTION 144600 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT SERVICES 6114 0 0 0 0 0 0 296639776 1428868 298068644 1 0 1 1 1 0 PART I, LINE 2: THE AMOUNTS REPORTED ON PART I ARE IDENTIFIED ON A REASONABLE EFFORTS BASIS WHERE SUCH ACTIVITIES WERE NOT TRACKED SEPARATELY UNDER THE COLLEGE'S ACCOUNTING PROCEDURES. THESE REASONABLE EFFORTS INCLUDE REVIEWS OF FINANCIAL RECORDS AND INTERVIEWS WITH COLLEGE PERSONNEL. THE COLLEGE EXPENDS FUNDS OUTSIDE OF THE UNITED STATES ON VARIOUS STUDY ABROAD PROGRAMS. STUDENTS ENROLLED IN STUDY ABROAD PROGRAMS PAY THEIR TUITION AND FEES DIRECTLY TO LAFAYETTE COLLEGE AND THE COLLEGE REMITS PAYMENTS TO THE OVERSEAS PROGRAM ON STUDENTS' BEHALF. PART I, LINE 3: ACCRUAL PART III ACCOUNTING METHOD: X X X X X X X 1 CRESENDO INTERACTIVE INC 110 CAMINO RUIZ CAMARILLO CA 93012 GIFT LEGACY SERVICE & UPGRADE 0 0 5500 0 AMPLO (GRADUWAY) 939 WESTLAKE AVENUE N SEATTLE WA 98109 DAY OF GIVING, CROWDFUNDING PLATFORM 0 0 20000 0 WASHBURN & MCGOLDRICK 950 NEW LOUDON ROAD STE 210 LATHAM NY 12110 CAMPAIGN CONSULTING 0 0 113411 0 IMODULES SOFTWARE INC PO BOX 25671 OVERLAND PARK KS 66225 LICENSE AND CONSULTING SERVICE 0 0 24480 0 163391 CA FL NH NJ NY WA PA 1 YALE UNIVERSITY PO BOX 1873 NEW HAVEN CT 065081873 060646973 501(C)3 9924 0 N/A N/A NIH GRANT BOISE STATE UNIVERSITY 1910 UNIVERSITY DRIVE BOISE ID 83725 820290701 501(C)3 7124 0 N/A N/A NIH GRANT LEHIGH UNIVERSITY 306 S NEW STREET SUITE 451 BETHLEHEM PA 18015 240795445 501(C)3 7967 0 N/A N/A NIH GRANT 3 0 INSTITUTIONAL SCHOLARSHIP AWARDS 1260 0 55974824 FMV CREDIT TO STUDENT'S ACCOUNT ACADEMIC PRIZES, AWARDS, AND FELLOWSHIPS 223 176004 0 N/A N/A CARES ACT GRANTS TO STUDENTS 855 464840 0 N/A N/A PART I, LINE 2: LAFAYETTE COLLEGE MAINTAINS A POLICY DEFINING ITS PROCEDURES FOR MONITORING THE USE OF SPONSORED FUNDS BY SUB-RECIPIENTS WHO ARE PERFORMING A PORTION OF A SPONSORED PROJECT EXTERNALLY AWARDED TO LAFAYETTE. THIS POLICY PROVIDES GUIDANCE TO ENSURE THAT SUB-RECIPIENTS CONDUCT THEIR PORTION OF SPONSORED PROJECTS IN COMPLIANCE WITH THE LAWS, REGULATIONS, TERMS AND CONDITIONS OF AWARDS AND SUB AWARDS, AND THAT REIMBURSEMENT COSTS INCURRED BY SUB-RECIPIENTS ARE ALLOWED. PART III, LINE 1 THE COLLEGE CONSIDERS THE AWARDING OF FINANCIAL AID (PRIMARILY GRANTS, SCHOLARSHIPS, LOANS, AND WORK-STUDY) TO ITS STUDENTS, INCLUDING NON-RESIDENT ALIEN STUDENTS, TO BE A U.S. BASED ACTIVITY AS STUDENTS OF THE COLLEGE ARE DEEMED TO BE LIVING IN THE UNITED STATES THROUGHOUT THEIR COMPLETION OF THE COLLEGE'S ACADEMIC CURRICULUM AND SUPPORTING PROGRAMS. THE COLLEGE AWARDS SCHOLARSHIPS AND FELLOWSHIPS ON THE BASIS OF MERIT AND/OR FINANCIAL NEED. THE SELECTION CRITERIA ARE BASED ON THE CALCULATED EXPECTED FAMILY CONTRIBUTION, WHICH IS DERIVED BY USING COMPLEX FORMULAS INVOLVING FAMILIES' INCOME, ASSETS, AND HOUSEHOLD SIZES INCLUDING, AMONG OTHER FACTORS, DEPENDENTS IN COLLEGE. THE COLLEGE'S FINANCIAL AID OFFICE ADMINISTERS AND MONITORS THESE AWARDS TO HELP ENSURE THAT THESE FUNDS ARE AWARDED TO ELIGIBLE RECIPIENTS IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE, AND OTHER REQUIREMENTS, AS WELL AS RELEVANT INTERNAL COLLEGE POLICIES AND OPERATIONAL GUIDELINES. ACADEMIC PRIZES, AWARDS, FELLOWSHIP, AND INTERNSHIPS ARE AWARDED BASED ON A REVIEW BY THE APPLICABLE ACADEMIC DEPARTMENT. ALL AWARDED SCHOLARSHIPS ARE CREDITED TO THE STUDENT'S ACCOUNT AT THE COLLEGE AND ARE APPLIED TO BILLED CHARGES. X X X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 ALISON R BYERLY PRESIDENT 553292 0 175000 0 88277 0 26600 0 74311 0 917480 0 0 0 JOSEPH S BOHRER CHIEF INVESTMENT OFFICER 347592 0 160000 0 9049 0 26600 0 10578 0 553819 0 0 0 ROGER A DEMARESKI VP OF FINANCE & ADMINISTRATION/TREAS 380592 0 35000 0 61283 0 26600 0 23891 0 527366 0 0 0 SAIYID A RIZVI PROVOST 343650 0 100000 0 10431 0 26600 0 22294 0 502975 0 0 0 MERVIN A BURTON DIRECTOR OF INVESTMENTS 235236 0 190000 0 594 0 23079 0 8969 0 457878 0 0 0 LESLIE F MUHLFELDER VP OF HUMAN RESOURCES & GENERAL COUN 323589 0 15000 0 10246 0 26600 0 51930 0 427365 0 0 0 KIMBERLY A SPANG VP OF DEVELOPMENT & COLLEGE RELATION 306742 0 40000 0 14224 0 26600 0 34153 0 421719 0 0 0 GREGORY V MACDONALD VP OF ENROLLMENT MANAGEMENT 241112 0 20000 0 5591 0 23913 0 127629 0 418245 0 0 0 CRAIG BECKER ASSOC VP FOR FINANCE, PLANNING & CAP 238946 0 5000 0 40464 0 23708 0 25426 0 333544 0 0 0 LI ZHAO INVESTMENT ASSOCIATE 153685 0 125000 0 199 0 15329 0 14947 0 309160 0 0 0 BRUCE A MURPHY KIRBY PROFESSOR OF GOVERNMENT & LAW 252275 0 0 0 6243 0 24668 0 21644 0 304830 0 0 0 JOHN E MEIER PROVOST 256787 0 0 0 11607 0 23750 0 8476 0 300620 0 0 0 FRANCIS B O'HANLON HEAD MEN'S BASKETBALL COACH 247759 0 0 0 5654 0 24263 0 22330 0 300006 0 0 0 JOHN KINCAID PROFESSOR/DIRECTOR OF MEYNER CENTER 245249 0 0 0 3318 0 23638 0 10933 0 283138 0 0 0 JOHN L O'KEEFE VP & CHIEF INFORMATION OFFICER 231500 0 0 0 1569 0 22563 0 20960 0 276592 0 0 0 ANNETTE DIORIO VP OF CAMPUS LIFE/SR. DIVERSITY OFFI 221324 0 8000 0 2131 0 21375 0 11272 0 264102 0 0 0 MARK EYERLY VP FOR MARKETING & COMMUNICATIONS 219595 0 0 0 2396 0 21350 0 19448 0 262789 0 0 0 ALMA SCOTT-BUCZAK ASSOC VP FOR HUMAN RESOURCES 175057 0 0 0 25249 0 10188 0 24024 0 234518 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - IN ACCORDANCE WITH COLLEGE POLICY, IN LIMITED INSTANCES WITH DOCUMENTATION FOR THE BUSINESS PURPOSE FULFILLED BY THE COMPANION AND ANY REQUIRED PRIOR APPROVALS, THE COLLEGE WILL PAY FOR TRAVEL EXPENSES OF A COMPANION WHEN THE COMPANION TRAVEL IS 1] FOR A BONA FIDE BUSINESS PURPOSE, AND 2] IMPORTANT TO THE ACHIEVEMENT OF THE COLLEGE'S PURPOSES THAT REQUIRE THE TRAVEL OF THE EMPLOYEE AND COMPANION. TAX INDEMNIFICATION - DURING CALENDAR YEAR 2019, A $3,110 TAX EQUALIZATION PAYMENT WAS MADE TO ALISON BYERLY (PRESIDENT). THE PAYMENT IS IN ACCORDANCE WITH THE EMPLOYMENT CONTRACT AND/OR AUTHORIZATIONS FROM THE BOARD OF TRUSTEES AND ARE SPECIFIC TO THE PRESIDENT. HOUSING ALLOWANCE - AS PART OF THEIR EMPLOYMENT CONTRACT AND FOR THE CONVENIENCE OF THE COLLEGE, A COLLEGE-OWNED RESIDENCE WAS PROVIDED TO OFFICER ALISON BYERLY (PRESIDENT). THE HOUSING PROVIDED IS LOCATED ON COLLEGE PROPERTY AND IS IN CONJUNCTION WITH THE OFFICER'S DUTIES. THE ESTIMATED ANNUAL VALUE OF THE HOUSING PROVIDED IS INCLUDED AS A NONTAXABLE BENEFIT IN THIS RETURN IN THE AMOUNT OF $49,120 FOR PRESIDENT BYERLY. IT IS THE POLICY OF THE COLLEGE'S BOARD OF TRUSTEES THAT THE PRESIDENT RESIDE ON COLLEGE PROPERTY. THE PRESIDENT DETERMINES IF THE DUTIES OF OTHER OFFICERS REQUIRE THEM TO RESIDE ON COLLEGE PROPERTY. PERSONAL SERVICES - IN ACCORDANCE WITH THE POLICY OF THE COLLEGE'S BOARD OF TRUSTEES AND THE PRESIDENT'S EMPLOYMENT CONTRACT, THE PRESIDENT OF THE COLLEGE IS REQUIRED TO RESIDE ON COLLEGE PROPERTY. THE PRESIDENT'S HOUSE SERVES NOT ONLY AS A RESIDENCE, BUT ALSO AS A HOST LOCATION FOR MANY COLLEGE EVENTS AND THE COLLEGE PROVIDES STAFF TO MAINTAIN THE HOME. FOR CALENDAR YEAR 2019, $7,457 WAS THE PORTION OF THE HOUSEKEEPER'S SALARY DETERMINED TO BE FOR PERSONAL SERVICES AND INCLUDED AS REPORTABLE COMPENSATION. SOCIAL CLUB - THE COLLEGE MAINTAINS A SOCIAL CLUB MEMBERSHIP IN THE NAME OF THE PRESIDENT THAT IS PRIMARILY USED FOR BUSINESS PURPOSES, INCLUDING FUNDRAISING AND DONOR RELATION ACTIVITIES. PART I, LINE 3 THE COMPENSATION COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION. THE COMMITTEE REVIEWS DATA OBTAINED FROM ITS EXTERNAL COMPENSATION CONSULTANT ON PRESIDENTIAL SALARIES FROM COMPARABLE INSTITUTIONS AND UPDATES OR ADJUSTS THAT DATA THROUGH SURVEYS AND OTHER AVAILABLE RESOURCES. IN ADDITION, AN ANNUAL PERFORMANCE REVIEW IS CONDUCTED. PART I, LINE 7 FROM TIME TO TIME CERTAIN EMPLOYMENT CONTRACTS CONTAIN BONUS CLAUSES. THESE BONUSES ARE BASED ON METRICS SPECIFIC TO THE POSITION. IN ADDITION, FROM TIME TO TIME, THE GOVERNING BODY PROVIDES BONUSES TO OFFICERS, DIRECTORS, KEY EMPLOYEES, AND OTHER STAFF BASED ON PERFORMANCE THEY DEEM TO BE WORTHY OF THE AWARD. THESE BONUSES ARE COMPLETELY DISCRETIONARY. A NORTHAMPTON CITY GPA (SERIES 2013 A) 233007498 66353LCF2 2013-11-26 35146792 REFUND SERIES 98A, 98B, VAR. CAP. PROJECTS 0 0 0 B NORTHAMPTON CITY GPA (SERIES 2010 A AND B) 233007498 66353LAY3 2010-04-30 26689800 REFUND SERIES 10A, VAR. CAP. PROJECTS 0 0 0 C NORTHAMPTON CITY GPA (SERIES 2018) 233007498 66353LDL8 2018-10-02 21520883 COLLEGE REFUNDING REVENUE BONDS 0 0 0 D NORTHAMPTON CITY GPA (SERIES 2006) 233007498 66353LAG2 2006-09-14 15100000 CONSTRUCT./RENOV. ATHLETIC FACILITIES 0 0 0 A 35146792 346792 12600000 22200000 0 1 1 1 B 26690421 4400421 22290000 2013 0 1 1 1 C 21150000 21520883 370883 21150000 2018 1 0 1 1 D 4100000 15312344 108121 10709 15193514 2007 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: NORTHAMPTON CITY GPA (SERIES 2013 A) DATE THE REBATE COMPUTATION WAS PERFORMED: 06/23/2017 ISSUER NAME: NORTHAMPTON CITY GPA (SERIES 2010 A AND B) DATE THE REBATE COMPUTATION WAS PERFORMED: 02/13/2015 ISSUER NAME: NORTHAMPTON CITY GPA (SERIES 2006) DATE THE REBATE COMPUTATION WAS PERFORMED: 03/13/2015 ISSUER NAME: NORTHAMPTON CITY GPA (SERIES 2003) DATE THE REBATE COMPUTATION WAS PERFORMED: 03/16/2015 FORM 990, SCHEDULE K, PART I, SUPPLEMENTAL INFORMATION: NORTHAMPTON COUNTY GPA (SERIES 2010 A AND B) IS ONE INTEGRATED STRUCTURE AS REPORTED ON IRS FORM 8038. IT IS COMPRISED OF TWO SUB-COMPONENTS, SERIES 2010 A WHICH HAD PROCEEDS OF $22,289,379 FOR THE PURPOSE OF RETIRING THE SERIES 2000 BONDS WAS STRUCTURED AS VARIABLE RATE DEBT AND SERIES 2010B WHICH HAD PROCEEDS OF $4,400,421 FOR VARIOUS CAPITAL PROJECTS AND IMPROVEMENTS WAS STRUCTURED AS FIXED RATE DEBT. SCHEDULE K, PART II, LINE 3: THE DIFFERENCE FROM PART I(E) IS DUE TO INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART III: THE COLLEGE CONTRACTS WITH A FOR-PROFIT DINING SERVICE PROVIDER FOR THE MANAGEMENT OF THE DINING OPERATIONS ON CAMPUS. THE CURRENT CONTRACT IS STRUCTURED SUCH THAT THE PREPONDERANCE OF FEES IS BASED ON A PER CAPITA CHARGE. A SMALL PORTION OF THE PROCEEDS OF THE SERIES 2008 BONDS WERE USED TO RENOVATE ONE OF THE SEVEN DINING VENUES ON CAMPUS, BUT GIVEN ITS NATURE, THE COLLEGE, WITH THE ADVICE OF COUNSEL, BELIEVES THE CONTRACT WITH THE FOR-PROFIT DINING SERVICE PROVIDER IS A QUALIFIED MANAGEMENT CONTRACT AND NOT SUBJECT TO PRIVATE USE. FORM 990, SCH. K, PART IV, LINE 3, USE OF INTEREST RATE HEDGING CONTRACTS: THE COLLEGE HAS THREE INTEREST RATE HEDGING CONTRACTS IN PLACE THAT WERE ENTERED INTO TO MITIGATE THE COLLEGE'S INTEREST RATE RISK INHERENT WITH VARIABLE RATE STRUCTURED DEBT. EACH OF THE HEDGING CONTRACTS REQUIRES THE COLLEGE TO PAY A FIXED RATE IN RETURN FOR A VARIABLE RATE THAT IS EXPECTED TO APPROXIMATE THE INTEREST RATE PAYABLE ON THE COLLEGE'S DEBT IN TYPICAL MARKETS. NONE OF THE INTEREST RATE HEDGING CONTRACTS ARE STRUCTURED AS "QUALIFIED" HEDGES ON THE RECORDS OF THE ISSUING AUTHORITY FOR ANY OF THE COLLEGE'S DEBT ISSUANCES, WHICH IS THE NORTHAMPTON COUNTY GENERAL PURPOSE AUTHORITY. AS SUCH, NONE OF THE INTEREST RATE HEDGES ARE INTEGRATED FOR TAX PURPOSES WITH A PARTICULAR DEBT ISSUANCE OF THE COLLEGE. A NORTHAMPTON CITY GPA (SERIES 2003) 233007498 66353LAA5 2003-04-02 10190000 REFUND SERIES 93 0 0 0 B NORTHAMPTON CITY GPA (SERIES 2017) 233007498 66353LDE4 2017-06-14 158271482 CONTRUCTION/PARTIAL ADVANCE REFUNDING PRIOR BOND 0 0 0 A 10190000 10190000 2003 0 1 1 1 B 158271482 1011988 60764690 77259495 19235310 0 1 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 X 11 3072300 APPRAISAL X 67 4478618 HIGH/LOW OF DAILY MV X 2 35912 APPRAISAL X EQUIPMENT 1 16934 FMV X GOODS/SERVICE 4 1961 FMV 12 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS PART I, LINE 32B: THE COLLEGE'S INVESTMENT BROKER/MANAGER LIQUIDATES DONATED SECURITIES SECURITIES. FORM 990, PART III, LINE 1: MISSION STATEMENT IN AN ENVIRONMENT THAT FOSTERS THE FREE EXCHANGE OF IDEAS, LAFAYETTE COLLEGE SEEKS TO NURTURE THE INQUIRING MIND AND TO INTEGRATE INTELLECTUAL, SOCIAL, AND PERSONAL GROWTH. THE COLLEGE STRIVES TO DEVELOP STUDENTS' SKILLS OF CRITICAL THINKING, VERBAL COMMUNICATION, AND QUANTITATIVE REASONING AND THEIR CAPACITY FOR CREATIVE ENDEAVOR; IT ENCOURAGES STUDENTS TO EXAMINE THE TRADITIONS OF THEIR OWN CULTURE AND THOSE OF OTHERS; TO DEVELOP SYSTEMS OF VALUES THAT INCLUDE AN UNDERSTANDING OF PERSONAL, SOCIAL, AND PROFESSIONAL RESPONSIBILITY; AND TO REGARD EDUCATION AS AN INDISPENSABLE, LIFELONG PROCESS. FORM 990, PART VI, SECTION A, LINE 1 GOVERNANCE, MANAGEMENT, AND DISCLOSURE - GOVERNING BODY AND MANAGEMENT THE EXECUTIVE COMMITTEE OF THE BOARD CONSISTS OF THE CHAIR, VICE CHAIR, AND SECRETARY OF THE BOARD, THE CHAIRS OF THE STANDING COMMITTEES OF THE BOARD, THE PRESIDENT OF THE COLLEGE, AND THE IMMEDIATE PAST CHAIR OF THE BOARD FOR THE PERIOD OF ONE YEAR NEXT ENSUING THE TERMINATION OF HIS OR HER INCUMBENCY IN THAT OFFICE IN THE EVENT HE OR SHE CONTINUES TO SERVE DURING THAT PERIOD AS A MEMBER OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE TRANSACTS SUCH BUSINESS AS MAY BE COMMITTED TO IT BY THE BOARD, AND, WHEN THE BUSINESS OF THE COLLEGE REQUIRES, IT MAY ACT FOR THE BOARD IN ALL MATTERS NOT ESPECIALLY RESERVED, SUBJECT TO APPROVAL BY THE BOARD AT ITS FIRST MEETING THEREAFTER. THE COMMITTEE HAS THE FOLLOWING RESPONSIBILITIES: DEVELOPMENT OF A LONG-RANGE MASTER PLAN FOR THE COLLEGE SUBJECT TO PERIODIC REVIEW AND REVISION; CONSIDER AND RECOMMEND POLICIES FOR FINANCIAL LONG-RANGE PLANNING, BUDGETING, PRICING AND FEES; NOMINATE CANDIDATES FOR THE BOARD. COPIES OF THE MINUTES OF ITS TRANSACTIONS ARE CIRCULATED AMONG THE MEMBERS OF THE BOARD PRIOR TO THE NEXT ENSUING MEETING OF THE BOARD, AND, WHEN APPROVED, REPORTED AS TRANSACTIONS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 GOVERNANCE, MANAGEMENT, AND DISCLOSURE - GOVERNING BODY AND MANAGEMENT FROM TIME TO TIME, VARIOUS TRUSTEES MAY HAVE RELATIONSHIPS OCCURRING IN THE NORMAL COURSE OF BUSINESS. THESE TRANSACTIONS ARE AT ARM'S LENGTH AND REPORTED TO THE COLLEGE IN COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 11B GOVERNANCE, MANAGEMENT, AND DISCLOSURE - POLICIES PROCESS FOR THE REVIEW OF FORM 990 THE FORM 990 RETURN IS PREPARED BY THE COLLEGE'S ADMINISTRATION AND FORWARDED TO THE COLLEGE'S OUTSIDE TAX ADVISOR FOR REVIEW AND INPUT INTO ELECTRONIC MEDIA. THE COLLEGE WILL DISCUSS THE RETURN WITH ITS OUTSIDE TAX ADVISOR AND MAKE REVISIONS PRIOR TO PRINTING THE FIRST DRAFT RETURN. THE AUDIT COMMITTEE REVIEWS THE FIRST DRAFT RETURN, RECOMMENDS CHANGES, WHICH ARE THEN INCORPORATED INTO A REVISED DRAFT RETURN. THE AUDIT COMMITTEE REVIEWS THE SECOND DRAFT RETURN TO ENSURE THE COMMITTEE'S REQUESTED CHANGES WERE MADE. THE ADMINISTRATION WILL THEN DISTRIBUTE THE SECOND DRAFT RETURN TO THE FULL BOARD OF TRUSTEES WITH A REQUEST FOR REVIEW AND COMMENT. IF ANY QUESTIONS OR COMMENTS ARE RECEIVED FROM A BOARD MEMBER AND THE RETURN IS REVISED AS A RESULT, THE ADMINISTRATION WILL ADVISE THE FULL BOARD OF THE CHANGE BEFORE FILING OF THE FINAL RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY FOR TRUSTEES, BOARD MEMBERS, OFFICERS OF THE ADMINISTRATION, AND OTHER KEY EMPLOYEES OF THE COLLEGE WAS APPROVED BY THE COLLEGE'S BOARD OF TRUSTEES ON OCTOBER 27, 1979. THIS POLICY IS PROVIDED TO ALL APPLICABLE INDIVIDUALS ANNUALLY FOR THEIR REVIEW AND DISCLOSURE OF BOTH ANY EXCEPTIONS TO THE POLICY AND ANY AFFILIATIONS FOR WHICH THE POLICY REQUIRES DISCLOSURE. THE COLLEGE ALSO REQUIRES THE SAME INDIVIDUALS TO PREPARE A FORM 990 DISCLOSURE ANNUALLY. ALL DISCLOSURES REQUIRED UNDER THIS POLICY MUST BE DIRECTED IN WRITING TO THE SECRETARY OF THE BOARD OF TRUSTEES WHO IS RESPONSIBLE FOR THE ADMINISTRATION OF THIS POLICY. MATTERS UNDER THIS POLICY CONCERNING TRUSTEES ARE INITIALLY REPORTED TO THE CHAIRPERSON OF THE BOARD AND THE COLLEGE'S GENERAL COUNSEL FOR ACTION. MATTERS CONCERNING STAFF ARE REFERRED INITIALLY TO THE COLLEGE'S GENERAL COUNSEL AND THEN TO THE PRESIDENT. INFORMATION DISCLOSED TO THE SECRETARY (OR CHAIRPERSON OR PRESIDENT) IS HELD IN CONFIDENCE EXCEPT WHEN THE BEST INTEREST OF THE INSTITUTION IS SERVED BY DISCLOSING THE INFORMATION TO THE BOARD IN EXECUTIVE SESSION. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION OF THE OFFICERS OF THE ADMINISTRATION: THE PRESIDENT RECOMMENDS THE COMPENSATION FOR OFFICERS (VICE-PRESIDENTS). BASED ON A WRITTEN ANNUAL PERFORMANCE SUMMARY, EACH OFFICER'S COMPENSATION IS THEN ESTABLISHED BY THE COMPENSATION COMMITTEE WHICH REVIEWS DATA OBTAINED FROM ITS EXTERNAL COMPENSATION CONSULTANT ON SALARIES OF COMPARABLE OFFICERS FROM COMPARABLE INSTITUTIONS AND ADJUSTS THAT DATA THROUGH SURVEYS AND OTHER AVAILABLE RESOURCES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S PUBLIC WEBSITE. THE COLLEGE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC ON ITS WEBSITE. REQUESTS FOR COPIES OF FORMS 990 AND 990T ARE PROVIDED PROMPTLY UPON REQUEST IN EITHER HARD-COPY OR ELECTRONIC FORMS, AND THE COLLEGE DOES NOT CHARGE FOR EITHER COPYING OR MAILING COSTS. AFTER THE FILING OF THE FORM 990 RETURN FOR THE SAME TAX YEAR, THE COLLEGE WILL PROVIDE A COPY TO GUIDESTAR FOR PUBLICATION ON THEIR WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN ESTIMATE ANNUITIES PAYABLE 2,868,959. CHANGE IN FV OF HEDGE/SWAPS -3,687,590. CHANGE IN POSTRETIREMENT BENEFITS 5,411,000. SCHAEFER BERTHA B UW BNY MELLON PO BOX 185 PITTSBURGH PA 15230 236293005 PERPETUAL TRUST PA 501(C)(3) PF LAFAYETTE COLLEGE 1 WOLFE DUMONT 1 W 4TH ST 4TH FL WINSTON SALEM NC 27101 236013820 PERPETUAL TRUST NC 501(C)(3) PF LAFAYETTE COLLEGE 1 ANNA P DENLINGER TRUST 1 W 4TH ST 4TH FL WINSTON SALEM NC 27101 226144493 PERPETUAL TRUST NC 501(C)(3) PF LAFAYETTE COLLEGE 1 CHARLES W BLAIR 10 S DEARBORN CHICAGO IL 60603 726130983 PERPETUAL TRUST IL 501(C)(3) PF LAFAYETTE COLLEGE 1 EDWARD BRINKER TR FBO CLAUDIA PO BOX 185 PITTSBURGH PA 15230 256770250 PERPETUAL TRUST PA 501(C)(3) PF LAFAYETTE COLLEGE 1 CHARITABLE REMAINDER UNITRUSTS (27) INVESTMENTS PA LAFAYETTE COLLEGE T 1.00000 1 CHARITABLE REMAINDER ANNUITY TRUSTS (2) INVESTMENTS PA LAFAYETTE COLLEGE T 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CHARITABLE REMAINDER TRUSTS S 834829 CASH VALUE