2021-05-12T16:19:06-07:00 2020-06-30 990 2019-07-01 042103638 WHEATON COLLEGE WHEA 5082868219 35 East Main Street Norton MA 02766 Dennis Hanno President 5082868208 2021-05-12 2019 2022-09-23 18:48:47Z Dennis Hanno 35 East Main Street Norton MA 02766 426534116 0 X www.wheatoncollege.edu X 1834 MA Wheaton College provides a transformative liberal arts education for intellectually curious students in a collaborative, academically vibrant residential community that values a diverse world. 36 35 1829 812 1730042 0 9297630 16742945 111848357 112830699 12726060 2643044 3871543 2443199 137743590 134659887 54634596 60824079 0 0 48081901 48414108 0 0 3891709 40145928 34803953 142862425 144042140 -5118835 -9382253 375718351 374085010 82391429 85963818 293326922 288121192 Wheaton College provides a transformative liberal arts education for intellectually curious students in a collaborative, academically vibrant residential community that values a diverse world. 0 0 129839476 60824079 114445767 Wheaton College (the "college") is a private, coeducational, liberal arts college located in Norton, Massachusetts and is accredited by the New England Commission of Higher Education, Inc. Founded as a Female Seminary in 1834 and chartered as a four-year college in 1912, the college became coeducational in 1988. The college provides academic, residential and other services to a diverse student population of more than 1,700 drawn from schools predominately in the Northeast region of the United States, as well as from many other U.S. states and territories and more than 70 countries. The College's mission is to provide a transformative liberal arts education for intellectually curious students in a collaborative, academically vibrant residential community that values a diverse world. The curriculum features more than 100 majors and minors in the arts, business, humanities, natural sciences, and social sciences. The College offers the Bachelor of Arts degree at the undergraduate level, and the Masters of Arts degree under special circumstances. 0 0 0 129839476 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 1 0 0 0 1 X 248 0 1829 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 35 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA NY X Ailish Welch 5082863523 35 East Main Street Norton MA 02766 Dennis Hanno President and ex officio Trustee 40 0 X X 410473 0 137187 Renee White Provost 40 0 X 248262 0 56986 Brian Douglas until August 2019 Exec. Vice President for Finance & Administration 40 0 X 216109 0 35093 Merritt Crowley Vice President Advancement 40 0 X 212969 0 29888 Gene Begin Vice President for Marketing & Communications 40 0 X 178966 0 40876 Kathryn McCaffrey until October2019 VP for Student Affairs & Dean of Students 40 0 X 173986 0 34749 Meghan Kass Vice President for Finance & Administration 40 0 X 167506 0 40258 Samuel Coale Professor of English 40 0 X 174020 0 28721 Michael Graca Assistant Vice President for Communications 40 0 X 155913 0 41029 John Sullivan Assistant VP of Business Services & Physical Plant 40 0 X 172306 0 18398 Joesph LaCascio Assistant VP, Information Technology Services 40 0 X 147470 0 22474 Omaira Roy Associate Vice President 40 0 X 149414 0 16429 Linda Eisenmann Professor of Education & History & Former Provost 40 0 X 109034 0 11417 Chris Hooker-Haring Interim VP Enrollment, Dean of Admissions & Student Life 0.00 0 X 104414 0 120 Walter Caffey VP Enrollment, Dean Admission & Student Aid 40 0 X 77612 0 15900 Kelsey Andrade Secretary of the Board 40 0 X 77894 0 14435 Zachary Irish Interim VP Student Affairs & Dean of College 40 0 X 70385 0 15387 Monique Lee Bahadur Trustee 2 0 X 0 0 0 Joshua S Bauchner Trustee 2 0 X 0 0 0 Anson M Beard Jr Trustee 2 0 X 0 0 0 Julie Bradley Trustee 2 0 X 0 0 0 Mary Bartlett Bryson Trustee 2 0 X 0 0 0 Nancy Carlson Trustee 2 0 X 0 0 0 Maryann E Carroll Trustee 2 0 X 0 0 0 Mirko Chardin Trustee 2 0 X 0 0 0 Rajesh Chaturvedi Trustee 2 0 X 0 0 0 Kymberlee Burrows Dwinell Trustee 2 0 X 0 0 0 Caroline Campbell Edwards Trustee 2 0 X 0 0 0 Keith J Figlioli Trustee 2 0 X 0 0 0 Henrietta Gates Trustee 2 0 X 0 0 0 Deborah Goddard Trustee 2 0 X 0 0 0 Matthew Gold Trustee 2 0 X 0 0 0 Cecilia Greene Trustee 2 0 X 0 0 0 Patricia King Trustee 2 0 X 0 0 0 Kirk D Kolenbrander Trustee 2 0 X 0 0 0 Tony Laing Trustee 2 0 X 0 0 0 Kevin Lam Trustee 2 0 X 0 0 0 Janet Lindholm Lebovitz Trustee 4.00 0 X 0 0 0 Ryan Letada Trustee 2 0 X 0 0 0 Andrew Lounder Trustee 2 0 X 0 0 0 Lisa Miller Maguire Trustee 2 0 X 0 0 0 Adrienne Bevis Mars Trustee 2 0 X 0 0 0 Christopher B Paquet Trustee 2 0 X 0 0 0 Keith J Peden Trustee 2 0 X 0 0 0 Leonard A Schlesinger Trustee 2 0 X 0 0 0 Austin Simko Trustee 2 0 X 0 0 0 Brian R Smiley Trustee 2 0 X 0 0 0 Diana Davis Spencer Trustee 2 0 X 0 0 0 John C Talanian Trustee 2 0 X 0 0 0 Eric C Tomasini Trustee 2 0 X 0 0 0 Cornelia Clifford Wareham Trustee 2 0 X 0 0 0 Benjamin Clark White Trustee 2 0 X 0 0 0 2846733 0 559347 54 1 1 0 Commodore Builders 404 Wyman Street Suite 400 Waltham MA 02451 Building contractor 14190671 Aramark 1101 Market Street Philadelphia PA 19107 Dining Services 6319953 Miller Dyer Spears Inc 99 Chauncy Street Boston MA 02111 Architect 792212 DIS Danish Institute for Study Abroad Vestergade 7 Kobenhavn DA DK-1456 Study abroad program 529250 HELIN Inc 15 Lippitt Road Kingston RI 02881 Library consortium 413105 23 0 0 47917 0 1194167 15500861 962478 16742945 Tuition and fees 611310 95619295 95619295 0 0 Room and board 611310 17076414 17076414 0 0 Education department services 611310 134990 134990 0 0 0 0 0 0 112830699 4083169 0 1626218 2456951 83970 0 0 83970 0 0 0 0 324944 0 105579 0 219365 0 219365 0 0 219365 290163832 0 291647236 40691 -1483404 -40691 -1524095 0 0 -1524095 18607 47917 80723 -62116 0 -62116 0 0 0 0 0 0 0 0 0 0 0 0 Dining Services 721000 1062137 1062137 0 0 Conference and events 451211 604440 0 103824 500616 Auxillary fees 611310 280617 280617 0 0 338756 272314 0 66442 2285950 134659887 114445767 1730042 1741133 0 59783619 59783619 1040460 1040460 0 0 2270660 1400759 452602 417299 0 0 0 0 35100898 29454734 3496040 2150124 2765947 2314526 281601 169820 5710044 4808780 548143 353121 2566559 2122625 269545 174389 0 0 0 0 294705 0 294705 0 223254 0 223254 0 0 0 0 0 0 0 3097778 2408064 689714 0 6703257 6004029 511820 187408 353431 324849 25364 3218 952841 504240 369290 79311 1156054 270360 764487 121207 0 0 0 0 2811771 2733402 78369 0 1238728 1154399 24020 60309 0 0 0 0 57429 48850 4375 4204 2088641 2088641 0 0 0 0 0 0 8036541 7443749 549177 43615 387097 0 387097 0 Program Support 2448576 2437766 8535 2275 Equipment and maintenance 1419054 1419054 0 0 Events, entertainment & food 1409380 449569 879691 80120 Library acquisitions and subscriptions 1101415 917607 170811 12997 1024001 709394 282315 32292 144042140 129839476 10310955 3891709 3850367 3397951 9984136 13511641 4393020 8234466 950011 1343414 0 0 0 0 2262240 1868898 0 0 892537 1641016 240664037 120680839 120345448 119983198 127213841 132902465 92465189 83586346 0 0 0 0 13361562 7615615 375718351 374085010 7663655 6335881 0 0 0 0 67782660 64584950 0 0 0 0 0 0 0 0 6945114 15042987 82391429 85963818 X 105382030 95381526 187944892 192739666 293326922 288121192 375718351 374085010 -9382253 4176523 0 0 0 0 X 0 1 X 1 1 1 X 8904345 11218986 11789837 9297630 16742945 57953743 0 0 0 0 0 0 0 0 0 0 0 0 8904345 11218986 11789837 9297630 16742945 57953743 5558624 52395119 2598343 3030151 3318780 4762904 4492081 18202259 0 0 0 0 1367314 1367314 1306217 1232462 -357310 776435 689487 3647291 81170607 528700779 0.64549 0.68341 X Schedule A, Part I, Line 7 The basis of Wheaton College's public charity status has been and continues to be its qualifications as a school described in Section 170(B)(1)(A)(II). The organization has checked box 7 on Schedule A, part 1 and completed Schedule A, part II in order to demonstrate its qualification to follow the special rule for abbreviated reporting of contributions on form 990, Schedule B. Schedule A, Part II, Line 10 The amount on line 10 includes conference and events revenue and resident fees. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 17000 17000 0 Schedule C, Part II-B, Line 1 The amount on line 1i reflects membership dues paid to member organizations, including NACUBO and AICUM, which may engage in lobbying activities in connection with issues that impact higher education. Therefore, a portion of the dues may be attributed to lobbying activities. The college does not directly participate in these lobbying activities. 0 808281 0 0 X X 0 212982445 5127436 6340842 4289797 6416640 3097778 210646508 211880928 3395287 12418742 4075466 6409631 4227415 212982445 205048131 5015691 16477071 3919482 6393304 4347179 211880928 184806070 6204359 27544913 3494934 6353792 3658485 205048131 194729080 3859225 -1493712 3462857 5871826 2953840 184806070 0.1887 0.5255 0.2858 0 0 0 3038198 3038198 0 205463669 99341314 106122355 0 0 0 0 0 14556978 11018232 3538746 0 17605192 10321293 7283899 119983198 0 154500 Hedged equity - developing and emerging 42098781 F Private equity 21423981 F Opportunistic credit 9091418 F Real property and commodities 7153264 F Domestic and international equity 1578530 F Fixed income 1718027 F Other 367845 F 83586346 0 Annuity and life income obligations 1349988 Government advances for student loans 2452830 Asset retirement obligations 1767770 Deposits and deferred revenue 2972357 Other liabilities - Payroll Protection Program loan 6500042 15042987 X 75972412 4176523 0 0 -59766220 -55589697 131562109 3097778 0 3097778 134659887 81178142 0 0 0 -59766220 -59766220 140944362 3097778 0 3097778 144042140 Schedule D, Part III, Line 4 The college's collection items include rare books, historical artifacts and art work that are used for scholarly research, public exhibitions and to document the history of the college. Schedule D, Part V, Line 4 The college's endowment funds provide income and support for the furtherance of the educational mission of the college in accordance with the donors' intentions. The majority of the donor restricted endowment is held for scholarship, teaching, and program expenses. Schedule D, Part X, Line 2 The college accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The college has identified its tax status as a tax exempt entity as its only significant tax position; however, the college has determined that such tax position does not result in an uncertainty requiring recognition. The college is not currently under examination by any taxing jurisdictions. The college's Federal and state tax returns are generally open for examination for three years following the date filed. Schedule D, Part XI, Line 2d Scholarship and grants provided to students of $59,952,522 is presented as a contra-revenue item in the audited financial statements and as an expense item in the Form 990. Fundraising event expenses of $80,723 and rental expenses of $105,579 are shown as an expense in the audited financial statements and as a contra-revenue item on the Form 990. Schedule D, Part XII, Line 2d Scholarship and grants provided to students of $59,952,522 is presented as a contra-revenue item in the audited financial statements and as an expense item in the Form 990. Fundraising event expenses of $80,723 and rental expenses of $105,579 are shown as an expense in the audited financial statements and as a contra-revenue item on the Form 990. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 2 Wheaton College is committed to the principles of Equal Opportunity as defined under federal and state law. The college's Notice of Nondiscrimination is available on its website at http://wheatoncollege.edu/policies/eqopp.html and referenced on its Admission webpages. Schedule E, Part I, Line 3 Wheaton College customarily draws a substantial percentage of its students from the Northeast region of the United States, as well as from many other U.S. states and territories and more than 70 foreign countries. The College follows a racially nondiscriminatory policy as to its students and enrolls students of racial minority groups in meaningful numbers. Schedule E, Part I, Line 6 Students receive financial aid from state and federal agencies based on predetermined financial and scholastic guidelines consistent with the college's educational mission. 1 Central America and the Caribbean 0 0 Investments 39340000 East Asia and the Pacific 0 0 Program Services Study abroad 218911 East Asia and the Pacific 0 0 Grantmaking 211617 East Asia and the Pacific 0 1 Program Services Admissions 10567 East Asia and the Pacific 0 1 Program Services Faculty research 1542 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad 887502 Europe (including Iceland and Greenland) 0 0 Grantmaking 654626 Europe (including Iceland and Greenland) 0 3 Program Services Admissions 12217 Europe (including Iceland and Greenland) 0 4 Program Services Faculty research 3304 Europe (including Iceland and Greenland) 0 0 Investments 6316000 Middle East and North Africa 0 1 Program Services Admissions 1486 South America 0 0 Program Services Study abroad 23215 South America 0 0 Grantmaking 23215 South Asia 0 0 Program Services Study abroad 125418 South Asia 0 0 Grantmaking 107797 South Asia 0 3 Program Services Admissions 24328 Sub-Saharan Africa 0 1 Program Services Study abroad 106715 Sub-Saharan Africa 0 0 Grantmaking 43204 Sub-Saharan Africa 0 3 Program Services Faculty research 22267 0 17 48133931 Scholarship to students East Asia and the Pacific 23 0 211617 Tuition offset Scholarship to students Europe (including Iceland and Greenland) 56 0 654627 Tuition offset Scholarship to students South America 2 0 23215 Tuition offset Scholarship to students South Asia 14 0 107797 Tuition offset Scholarship to students Sub-Saharan Africa 3 0 43204 Tuition offset 1 0 1 1 1 0 Schedule F, Part I, Line 2 The college is committed to making study abroad programs available to as wide a range of students as possible. As a result, the number of Wheaton students who study abroad is consistently high. Students generally pay the college its tuition with offsetting scholarships provided in accordance with standard college financial aid policies and procedures. The college pays the foreign schools tuition to provide instruction. Schedule F, Part I, Line 3 The study abroad programs are separately tracked in the college's general ledger system by activity and the amounts represent tuition payments for students and faculty liaisons reflected in column (f). The admissions recruiting, fundraising and faculty research amounts are tracked primarily using the college's credit card system and represent travel, meals and lodging costs for college employees conducting business in these regions. All expenses are under the accrual method of accounting. The number reported in column (c) are college employees that have temporary assignments outside of the US. Golf Tournament 47917 29310 18607 0 0 21119 0 0 5055 0 0 47917 29310 18607 0 0 21119 0 0 5055 26174 -7567 1 Scholarship to students 1753 0 59573581 Reduction of student balance for tuition owed to college Fellowship stipend 59 210038 0 Schedule I, Part I, Line 2 The college's Office of Student Financial Services is responsible for awarding and monitoring all college, federal and state grant, loan and work assistance. More than 75% of Wheaton students receive some form of financial aid and all students who demonstrate need receive aid. Financial assistance at Wheaton is awarded on the basis of demonstrated need and academic performance. "Need" is determined by the financial information that a student and his/her family provides on the Free Application for Federal Student Aid (FAFSA) and Wheaton Institutional Financial Aid Application which capture the data required to determine eligibility based on federal and/or state regulations and institutional fund eligibility guidelines. A need-based package may include a merit scholarship, grants, loans or work award. When funds are awarded, student eligibility is monitored through the college's operational system financial aid module to ensure there are no changes in status that might affect their ongoing eligibility. Total grant funds awarded are tracked to ensure compliance with budgeted amounts. X X 1 1 X X X X X X 1 0 0 0 0 0 0 1 0 Gene Begin Vice President for Marketing & Communications 178811 0 0 0 155 0 16810 0 24066 0 219842 0 0 0 Samuel Coale Professor of English 173056 0 0 0 964 0 15920 0 12801 0 202741 0 0 0 Merritt Crowley Vice President Advancement 212514 0 0 0 455 0 19308 0 10580 0 242857 0 0 0 Brian Douglas until August 2019 Exec. Vice President for Finance & Administration 200795 0 10000 0 5313 0 17157 0 17937 0 251202 0 0 0 Michael Graca Assistant Vice President for Communications 155430 0 0 0 483 0 13612 0 27417 0 196942 0 0 0 Dennis Hanno President and ex officio Trustee 388915 0 0 0 21558 0 77033 0 59654 0 547160 0 0 0 Meghan Kass VP for Finance & Administration 167272 0 0 0 234 0 16152 0 24105 0 207763 0 0 0 Joesph LaCascio Assistant Vice President, Information Technology Services 146594 0 0 0 876 0 13443 0 9031 0 169944 0 0 0 Kathryn McCaffrey until October2019 VP for Student Affairs & Dean of Students 128441 0 0 0 45545 0 15651 0 19098 0 208735 0 0 0 Omaira Roy Associate Vice President 149132 0 0 0 282 0 13635 0 2794 0 165843 0 0 0 John Sullivan Assistant Vice President of Business Services & Physical Plant 171671 0 0 0 635 0 15555 0 2843 0 190704 0 0 0 Renee White Provost 235086 0 10000 0 3176 0 21685 0 35301 0 305248 0 0 0 Schedule J, Part I, Line 1a The President, Provost and Vice President for Student Affairs and Dean of Students are provided with housing, including maintenance of such space, for the convenience of the employer on the college's premises. The value of the personal space within the housing is included as a nontaxable benefit on Schedule J. The value of the maintenance of the personal space is taxed accordingly. Schedule J, Part I, Line 3 The Wheaton College Executive Committee, an independent board, establishes compensation to ensure that the Internal Revenue Code provision of "rebuttable presumption of reasonableness" is met and "intermediate sanctions" are not incurred. The Executive Committee obtains and relies upon appropriate data regarding comparability of the compensation package prior to making its determination. Appropriate data includes compensation levels paid by similarly situated organizations, independent compensation surveys by nationally recognized independent firms, and written offers from similar institutions competing for the services of the individual. The Executive Committee documents the basis for its determinations including: the terms of the approved transaction and date approved; the members of the committee who were present during the discussion; and the data obtained and relied upon. Schedule J, Part I, Line 4 The former Vice President for Student Affairs and Dean of Student received a three-month severance starting in October 2019. She received her then current base salary and all benefits. Schedule J, Part I, Line 7 Brian Douglas and Renee White received discretionary bonuses of $10,000 during fiscal year 2020. These bonuses were approved by the Executive Committee based on performance. They were not calculated by a fixed formula or determined by a contractual agreement. A Massachusetts Development Finance Authority 043431814 57584X5L1 2017-12-21 64601213 Refunding of 2010 Series F & 2014 Series G-2 Bonds and construction of new residence hall 0 0 0 A 2670000 0 64601213 0 2398062 0 542597 0 0 27408361 31651527 2600666 1 1 0 1 A 0 0 0 0 0.0001 0.01 0.0101 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 Schedule K, Part IV, Line 2c-12/21/2017 64,601,213 Massachusetts Development Finance Authority The computations were performed for the June 30, 2020 computation date. Not applicable Not applicable 16000 Merit based scholarship Merit based scholarship X 3 194100 appraised value X 51 768378 fair market value 3 0 1 0 Schedule M, Part I, Line 33 The college is disclosing the number of contributions of publicly traded securities. These contributions may be comprised of one or more securities. Form 990, Part I, Line 1 Wheaton College provides a transformative liberal arts education for intellectually curious students in a collaborative, academically vibrant residential community that values a diverse world. Form 990, Part I, Line 4 In regards to the non-independent individuals identified: The President of the college is an ex officio member of the Board of Trustees and enjoys all rights and privileges, including voting, of term trustees except that his vote shall not be counted if such vote would have been the deciding vote for matters brought before the Board of Trustees for actions. Form 990, Part V, Line 2a The total number of employees includes faculty and staff of 729 and student employees of 1,100. Form 990, Part VI, Section A Chris Hooker-Haring was the Interim VP of Enrollment and Dean of Admissions and Student aid from July 31, 2018 until June 30, 2019. The income shown on Part VII is for the period January 1, 2019 through June 30, 2019. Mr. Haring did not work for Wheaton during fiscal year 2020, which began on July 1, 2019. Form 990, Part VI, Section B, Line 11b The college's Form 990 is prepared by the Finance Office of the college and reviewed by the Vice President for Finance and Administration. In addition, the Form 990 is reviewed and signed by an independent accounting firm. The first draft is reviewed by the Audit Committee of the Board of Trustees and any changes are incorporated into the final draft. The final draft is distributed to the full Board of Trustees via their secure website for final review prior to submission to the IRS. The draft provided to the Audit Committee of the Board of Trustees and to the full Board agrees to what was filed with the IRS with the exception of Schedule B, which was omitted. Schedule B is reviewed by the Chair of the Board, the Chair of the Audit Committee and the Chair of the Philanthropy Committee. Form 990, Part VI, Section B, Line 12c All trustees and officers of the college are covered in the Wheaton College Conflict of Interest Policy for Trustees and Officers. The policy and conflict of interest disclosure statement is sent to all officers and trustees on an annual basis. The completed forms are reviewed by the Chair of the Board of Trustees, the Vice President for Finance and Administration and the President, who determine if an actual or potential conflict exists. Officers and trustees recuse themselves from discussion and voting on any matters where a conflict exists. Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees, is composed independent members and establishes compensation for the President and other officers to ensure that the Internal Revenue Code provision of "rebuttable presumption of reasonableness" is met and "intermediate sanctions" are not incurred. The Executive Committee obtains and relies upon appropriate data regarding comparability of the compensation package prior to making its determination. Appropriate data includes compensation levels paid by similarly situated organizations, independent compensation surveys by nationally recognized independent firms, and written offers from similar institutions competing for the services of the individual. The Executive Committee documents the basis for its determinations including: the terms of the approved transaction and date approved; the members of the committee who were present during the discussions; and the data obtained and relied upon. Form 990, Part VI, Section C, Line 19 The employee conflict of interest policy is contained in the Staff Handbook, which is posted to the college's Human Resources website and available to the public. The college's audited financial statements are posted to the college's Finance website, which is available to the public. In addition, the Form 990 and the audited financials are available via the Massachusetts Attorney General's website. The governing documents and trustee conflicts of interest policy are available to the public upon request. Pooled Income Fund 35 East Main Street Norton MA 02766 Pool Income Fund MA N/A T 1 Perpetual Trust 35 Main Street Norton MA 02766 Perpetual Trust MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1