2020-01-22T22:47:52-06:00 2019-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2018-07-01 943204136 MENLO COLLEGE MENL 6505433753 1000 EL CAMINO REAL ATHERTON CA 94027 STEVEN WEINER PRESIDENT 6505433753 2020-01-22 1 KATY BROWN P00650274 9257902600 2020-01-22 38.111.205.16 2020-01-22 10:15:38 MS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 7777A0160DD75CFDDC16105D0C842EB02EF403B0 2018 2020-09-23 17:36:50Z STEVEN WEINER 1000 EL CAMINO REAL ATHERTON CA 94027 44264701 0 X WWW.MENLO.EDU X 1994 CA TO DEVELOP FUTURE LEADERS THROUGH A LIBERAL ARTS-BASED BUSINESS EDUCATION THAT INTEGRATES ACADEMIC STUDY AND FIELDWORK IN A SILICON VALLEY ENVIRONMENT UNMATCHED IN ITS POTENTIAL FOR INNOVATION. 15 15 463 15 0 0 2797294 2295005 36742879 38562316 1521539 1587944 1200638 250000 42262350 42695265 15642336 17317265 0 0 14337976 14864059 0 0 489540 11819463 11572165 41799775 43753489 462575 -1058224 36362008 37890083 5876195 8854343 30485813 29035740 X MENLO COLLEGE WAS FOUNDED IN 1927 AS A COMPONENT OF MENLO SCHOOL AND COLLEGE. ON JULY 1, 1994, THE COLLEGE COMMENCED OPERATIONS AS A SEPARATE, NON-PROFIT, COEDUCATIONAL INSTITUTION OF HIGHER EDUCATION. THE SEPARATION BETWEEN MENLO SCHOOL AND MENLO COLLEGE WAS FINALIZED IN 2008. TODAY MENLO OPERATES AS A SMALL, INNOVATIVE, PRIVATE RESIDENTIAL COLLEGE RECOGNIZED BY U.S. NEWS & WORLD REPORT AND THE PRINCETON REVIEW FOR THE EXCELLENCE OF ITS PROGRAMS. 0 0 36276121 17317265 38562316 THE COLLEGE PROVIDES INSTRUCTION TO APPROXIMATELY 725 FULL-TIME STUDENTS IN FOUR-YEAR UNDERGRADUATE MANAGEMENT AND PSYCHOLOGY PROGRAMS. EXPENDITURES INCLUDE RESIDENCE HALLS, DINING, STUDENT UNION, AND HEALTH SERVICES. 36276121 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 98 0 1 463 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X STEVEN WEINER PRESIDENT 6505433927 1000 EL CAMINO REAL ATHERTON CA 94027 GEIR RAMLETH TRUSTEE (THROUGH 9/2018) 1.00 X 0 0 0 MICAH KANE TRUSTEE 1.00 X 0 0 0 TOM BYERS TRUSTEE 1.00 X 0 0 0 ALMA CLAYTON-PEDERSEN TRUSTEE 1.00 X 0 0 0 ANDREA CUNNINGHAM TRUSTEE 1.00 X 0 0 0 HOWARD DALLMAR TRUSTEE 1.00 X 0 0 0 JAMES A DAVLIN TRUSTEE 1.00 X 0 0 0 CHRIS GARRETT TRUSTEE 1.00 X 0 0 0 J MICHAEL GULLARD TRUSTEE 1.00 X 0 0 0 DAVID C IRMER TRUSTEE 1.00 X 0 0 0 JORDAN LONG TRUSTEE 1.00 X 0 0 0 LARRY LOPEZ TRUSTEE 1.00 X 0 0 0 LAURIE SHAW TRUSTEE (THROUGH 6/2019) 1.00 X 0 0 0 BEN WAGNER TRUSTEE 1.00 X 0 0 0 TYLER EDELSTEIN TUTTLE TRUSTEE (THROUGH 12/18) 1.00 X 0 0 0 ROXANNE MARENBERG TRUSTEE 1.00 X 0 0 0 SHIREEN UNDENKA TRUSTEE 1.00 X 0 0 0 STEVEN WEINER PRESIDENT 40.00 X 382079 0 143813 GRANDE LUM PROVOST 40.00 X 125946 0 17250 FRANK WASILEWSKI VP FOR FINANCE & ADMIN 40.00 X 125979 0 27270 TERRY GIVENS PROVOST (THROUGH 6/2019) 40.00 X 118792 0 16371 KEITH SPARTARO VP FOR ATHLETICS & ENROLL. 40.00 X 160301 0 32760 ROBERT PATON PROFESSOR 40.00 X 166396 0 16188 LESLIE SEKERKA PROFESSOR 40.00 X 150868 0 27921 SOUMENDRA DE PROFESSOR 40.00 X 163169 0 28317 ANGELA SCHMIEDE VP FOR STUDENT SUCCESS 40.00 X 155442 0 30731 RICHARD MORAN FORMER PRESIDENT (THROUGH 8/2017) 0.00 X 300000 0 0 1848972 0 340621 30 1 1 0 SODEXO INC & AFFILIATES 1000 EL CAMINO REAL ATHERTON CA 94027 DINING HALL MEALS 1887984 GENESIS BUILDING SERVICES PO BOX 25360 SAN MATEO CA 94402 JANITORIAL SERVICES 473290 GACHINA LANDSCAPE MGMT INC 1130 OBRIEN DR MENLO PARK CA 94025 LANDSCAPING SERVICES 282000 ARVAYO ELECTRIC 123 TAMBOURINE RANCH ROAD GARDERVILLE NV 89460 ELECTRICAL WORK 177096 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON ST STE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 176183 16 60341 2234664 112402 2295005 STUDENT TUITION 611600 30741966 30741966 AUXILIARY FEES 611600 7206757 7206757 OTHER PROGRAM REVENUE 611600 613593 613593 38562316 422272 422272 2735108 1569436 1165672 1165672 1165672 INSUR. REIMBURSEMENT 900099 250000 250000 250000 42695265 38562316 0 1837944 17317265 17317265 714329 233349 480980 11309956 7853135 3153186 303635 660682 432097 207955 20630 1358166 694786 633283 30097 820926 576445 224033 20448 245804 245804 70564 70564 115603 115603 980757 715051 248106 17600 580199 563749 12181 4269 360448 208238 103055 49155 485991 485991 1218391 987795 230596 1016222 992754 16118 7350 111186 87969 9436 13781 63159 63159 1583141 1503984 79157 897370 608650 288720 OPERATIONS AND MAINT. 1782578 1693449 89129 PROGRAM - OTHER 1506917 1253570 230772 22575 PROGRAM - DINING HALL 553835 553835 43753489 36276121 6987828 489540 418142 1071937 2180722 2205207 240633 285000 1022445 1437517 17414 11841 291924 454119 27963219 16657899 9251194 11305320 16430636 14448568 6226922 6201390 281976 469184 36362008 37890083 2564211 3246355 3176617 3783932 135367 1824056 5876195 8854343 X 18131646 16282779 4739163 4892144 7615004 7860817 30485813 29035740 36362008 37890083 -1058224 -391849 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11149781 115467 490808 290000 11466056 11807978 14115 654994 1327306 11149781 10380784 4565 1672629 250000 11807978 10956560 16415 -342191 250000 10380784 10980132 104666 121762 250000 10956560 0.09840 0.90160 0.00000 0 0 202500 202500 18980090 10110851 8869239 2833745 2269288 564457 5946884 4277760 1669124 11305320 FOREIGN EQUITIES 718753 F PARTNERSHIP INTERESTS 5482637 F 6201390 ANNUITY RESERVES 1824056 1824056 X 26797768 -391849 1927219 -17317265 -15781895 42579663 115602 115602 42695265 28247841 1927219 -17317265 -15390046 43637887 115602 115602 43753489 PART V, LINE 4: ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE COLLEGE MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S). AS WELL AS BOARD-DESIGNATED FUNDS, THE COLLEGE EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 5 PERCENT ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. PART X, LINE 2: THE COLLEGE HAS RECEIVED DETERMINATION LETTERS FROM THE INTERNAL REVENUE SERVICE AND THE STATE OF CALIFORNIA INDICATING THAT THE COLLEGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954, AS AMENDED AND THE REVENUE AND TAXATION CODE OF THE STATE OF CALIFORNIA, RESPECTIVELY. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 AND 2018, THE COLLEGE DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID -17,317,265. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID -17,317,265. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MENLO COLLEGE INCLUDES IN ALL REGISTRATION MATERIALS THE FOLLOWING STATEMENT REGARDING EQUAL OPPORTUNITY AND ACCESS TO ITS PROGRAMS. THE SAME STATEMENT IS PUBLISHED ON THE MENLO COLLEGE WEBSITE AS FOLLOWS: MENLO DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, GENDER, SEXUAL ORIENTATION, DISABILITY, AGE, OR OTHER ATTRIBUTES PROTECTED BY LAW IN ANY OF ITS POLICIES, PROCEDURES, OR PRACTICES. THE NONDISCRIMINATION POLICY COVERS ADMISSION AND ACCESS TO, AND TREATMENT AND EMPLOYMENT IN, THE COLLEGE'S PROGRAMS AND ACTIVITIES. MENLO COLLEGE DRAWS 69% OF STUDENTS FROM CALIFORNIA, AND 56% OF STUDENTS ARE FROM MINORITY GROUPS. SCHEDULE E, PART I, LINE 6 STUDENTS ATTENDING THE COLLEGE RECEIVE SUPPORT IN THE FORM OF SCHOLARSHIPS AND FINANCIAL AID FROM STATE AND FEDERAL GOVERNMENTS. 1 INSTITUTIONAL SCHOLARSHIPS 779 17317265 FMV DIRECT CREDIT TO STUDENT ACCOUNT PART I, LINE 2: MENLO COLLEGE REQUIRES FINANCIAL AID APPLICANTS SUBMIT EVIDENCE OF ELIGIBILITY AND MAINTAINS ONGOING RECORDS OF ATTENDANCE AND SCHOLASTIC ACHIEVEMENTS BY ALL RECIPIENTS. X X 1 1 X X 1 0 0 0 0 0 0 0 0 STEVEN WEINER PRESIDENT 297917 0 80000 0 4162 0 27000 0 116813 0 525892 0 0 0 FRANK WASILEWSKI VP FOR FINANCE & ADMIN 123645 0 1854 0 480 0 12300 0 14970 0 153249 0 0 0 KEITH SPARTARO VP FOR ATHLETICS & ENROLL. 160301 0 0 0 0 0 15750 0 17010 0 193061 0 0 0 ROBERT PATON PROFESSOR 164896 0 0 0 1500 0 14688 0 1500 0 182584 0 0 0 LESLIE SEKERKA PROFESSOR 150266 0 0 0 602 0 14400 0 13521 0 178789 0 0 0 SOUMENDRA DE PROFESSOR 163169 0 0 0 0 0 14803 0 13514 0 191486 0 0 0 ANGELA SCHMIEDE VP FOR STUDENT SUCCESS 146342 0 1500 0 7600 0 15750 0 14981 0 186173 0 0 0 RICHARD MORAN FORMER PRESIDENT (THROUGH 8/2017) 0 0 0 0 300000 0 0 0 0 0 300000 0 0 0 PART I, LINE 1A 1) AS CAMPUS HOUSING IS A CONDITION OF EMPLOYMENT AND EXLUDED UNDER SECTION 119(D), THE HOUSING ALLOWANCE IS NOT INCLUDED IN THE TAXABLE INCOME OF THE SCHOOL'S PRESIDENT. APPROXIMATE MARKET VALUE OF THE HOUSING PROVIDED IS $9,000/MONTH, AND IS INCLUDED IN THE NONTAXABLE BENEFITS LISTED IN SCHEDULE J, PART II, COLUMN (D). 2) THE SCHOOL PRESIDENT IS PROVIDED WITH TRANSPORTATION BENEFITS, THE VALUE OF WHICH IS INCLUDED IN HIS W-2 TAXABLE WAGES. PART I, LINE 4A RICHARD MORAN RECEIVED A SEVERANCE PAYMENT OF $300,000 IN 2018. SHANNON SPATARO MARRIED TO KEITH SPATARO, ONE OF TOP 5 HIGHEST COMPENSATED EMPLOYEES 77635 EMPLOYMENT-WIFE SHANNON SPATARO IS EMPLOYED AS HEAD WOMENS BASKETBALL COACH. 0 X 1 112402 FMV 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B BEFORE FILING, THE FORM 990 IS REVIEWED BY THE BOARD AUDIT COMMITTEE, AND IS THEN SHARED WITH THE FULL BOARD MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO INTERESTED PERSONS, WHICH INCLUDE ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS WHO HAVE A DIRECT OR INDIRECT FINANCIAL INTEREST IN A POTENTIAL TRANSACTION WITH MENLO COLLEGE. TRUSTEES ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST FORM DISCLOSING ANY POTENTIAL CONFLICTS AT THE OCTOBER BOARD MEETING. A PERSON WITH A POTENTIAL CONFLICT OF INTEREST MAY PRESENT MATERIAL FACTS TO THE BOARD OR COMMITTEE CONTEMPLATING THE POTENTIALLY CONFLICTED TRANSACTION. NON-INTERESTED MEMBERS THEN DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IF A CONFLICT IS DETERMINED TO EXIST, THE NON-INTERESTED BOARD OR COMMITTEE MEMBERS INVESTIGATE WHETHER THERE IS A MORE ADVANTAGEOUS OPTION AVAILABLE TO MENLO COLLEGE THAT WOULD NOT PRESENT A CONFLICT OF INTEREST. AFTER EVALUATING OPTIONS, A MAJORITY VOTE OF NON-INTERESTED MEMBERS IS NEEDED TO PROCEED WITH THE PROPOSED CONFLICTED TRANSACTION. PERSONS WITH A POTENTIAL CONFLICT OF INTEREST ARE NOT PERMITTED TO PARTICIPATE IN DISCUSSION OR VOTING ON MATTERS PERTAINING TO THE POTENTIAL CONFLICT. FAILURE TO DISCLOSE POSSIBLE OR ACTUAL CONFLICTS OF INTEREST WILL RESULT IN INVESTIGATION AND/OR APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPARABLE DATA WAS REVIEWED, AND COMPENSATION AND BENEFIT PAYMENTS WERE DETERMINED AND APPROVED BY THE BOARD AND/OR THE BOARD'S EXECUTIVE COMMITTEE, AND THE CEO. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST, THE ORGANIZATION WILL PROVIDE COPIES OF FINANCIAL STATEMENTS AND FILED TAX RETURNS. THE ORGANIZATION RELIES ON GUIDESTAR TO PUBLISH THEIR TAX RETURN ON THE INTERNET. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR MENLO SCHOOL AND MENLO COLLEGE 1000 EL CAMINO REAL ATHERTON CA 94027 941156656 HOLDS TITLE TO BUILDINGS USED BY MENLO SCHOOL AND MENLO COLLEGE CA 501(C)(3) LINE 12B, II N/A 0 POOLED INCOME FUND INVESTMENTS CA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0