2020-07-07T08:58:05-05:00 2019-06-30 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2018-07-01 042103558 Trustees of the College of the Holy Cross % Charlene Bellows TRUS 5087932514 One College Street Worcester MA 016102395 DOROTHY A HAUVER DIR OF FINANCE 5087933497 2020-07-02 true MARY HANINK P01244578 6179881000 2020-05-10 199.206.0.5 06014420201895000001 2020-07-07 P 072F242B0F8FA55BC44C4BBFD6D81B3F0B7E1C92 5CE8C045D451A9174E08B035B8C1F7990FA45DBA 2018 2020-09-22 18:59:49Z COLLEGE OF THE HOLY CROSS DOROTHY A HAUVER One College Street Worcester MA 016102395 573818313 false X WWW.holycross.edu X 1843 MA COLLEGE OF THE HOLY CROSS IS A PRIVATE, JESUIT, LIBERAL ARTS COLLEGE DEDICATED TO THE PURSUIT OF EXCELLENCE IN TEACHING, LEARNING, AND SERVICE OF FAITH AND PROMOTION OF JUSTICE. 43 42 3442 3000 -966666 48095480 34981534 202544112 214371906 32715901 16480248 159345 161813 283514838 265995501 61467251 66189902 0 0 109220465 113409649 341446 388663 9402806 73874342 79085158 244903504 259073372 38611334 6922129 1233091689 1257371030 206571948 220377960 1026519741 1036993070 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. false false 223302813 66166900 213770434 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. 601472 23002 601472 BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY AND BIOLOGY. THE RESEARCH IS FUNDED BY PRIVATE GRANTS AND THE US GOVERNMENT. 223904285 true true false true false false true true true true true true false false true true true false true true true false true true true false false true true true true false false false false false false true false true true true false false false true true true true false false true 4783 0 true 3442 true true true true GK false false false true true false false false false false false X 43 42 false false false false false false false true true false false true true true true true true true true false CA MA NH X Charlene Bellows 5087933497 One College Street Worcester MA 016102395 Douglas M Baker Jr Trustee 3.0 0.0 X 0 0 0 Michael G Barrett Trustee 3.0 0.0 X 0 0 0 REV PHILIP L BOROUGHS SJ PRESIDENT 45.0 0.0 X X 0 0 0 Helen W Boucher MD Trustee 3.0 0.0 X 0 0 0 STEPHANIE COLEMAN LINNARTZ TRUSTEE (AS OF 9/2018) 3.0 0.0 X 0 0 0 Brian P Duggan Trustee 3.0 0.0 X 0 0 0 Susan F Feitelberg Trustee 3.0 0.0 X 0 0 0 Anne M Fink Trustee 3.0 0.0 X 0 0 0 REV JAMES G GARTLAND SJ TRUSTEE/VICE CHAIR 3.0 0.0 X X 0 0 0 Rev C Kevin Gillespie SJ Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 Rev Michael Carl Gilson SJ Trustee 3.0 0.0 X 0 0 0 Stuart E Graham Trustee 3.0 0.0 X 0 0 0 Stanley E Grayson Trustee 3.0 0.0 X 0 0 0 Michael Greene Trustee 3.0 0.0 X 0 0 0 Robert A Harrington Trustee 3.0 0.0 X 0 0 0 Thomas P Joyce Jr Trustee 3.0 0.0 X 0 0 0 Rev Gregory A Kalscheur SJ Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 Brian P Kelley Trustee 3.0 0.0 X 0 0 0 James W Keyes Trustee 3.0 0.0 X 0 0 0 Stephen A Lovelette Trustee 3.0 0.0 X 0 0 0 Linda M LeMura Trustee 3.0 0.0 X 0 0 0 Rev Mark S Massa SJ Trustee 3.0 0.0 X 0 0 0 Shaun P Mathews Trustee 3.0 0.0 X 0 0 0 Ann McElaney-Johnson PhD Trustee 3.0 0.0 X 0 0 0 Edwin J McLaughlin Trustee 3.0 0.0 X 0 0 0 Christopher M Millard Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 James F Mooney III Trustee 3.0 0.0 X 0 0 0 Visaury Moreta Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 Robert F Moriarty Trustee 3.0 0.0 X 0 0 0 John P Mullman Trustee 3.0 0.0 X 0 0 0 Rev Peter Nguyen SJ Trustee 3.0 0.0 X 0 0 0 Andrew J O'Brien Trustee 3.0 0.0 X 0 0 0 RICHARD H PATTERSON TRUSTEE/CHAIR 3.0 0.0 X X 0 0 0 William J Phelan Trustee 3.0 0.0 X 0 0 0 SUSAN POWER CURTIN TRUSTEE 3.0 0.0 X 0 0 0 Cornelius B Prior Jr Trustee 3.0 0.0 X 0 0 0 Carolyn M Risoli Trustee 3.0 0.0 X 0 0 0 Sr Barbara J Rogers RSCJ Trustee 3.0 0.0 X 0 0 0 Francine Rosado-Cruz Trustee 3.0 0.0 X 0 0 0 Stephen P Skinner Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 John J Suydam Trustee 3.0 0.0 X 0 0 0 Sean Teebagy Trustee 3.0 0.0 X 0 0 0 Hon Harry K Thomas Jr Trustee (as of 9/2018) 3.0 0.0 X 0 0 0 Rev Kevin T FitzGerald SJ Trustee (until 9/2018) 3.0 0.0 X 0 0 0 John J Mahoney Jr trustee/chair (until 9/2018) 3.0 0.0 X X 0 0 0 Robert S Morrison Trustee (until 9/2018) 3.0 0.0 X 0 0 0 Maria Eugenia Ferre Rangel Trustee (until 9/2018) 3.0 0.0 X 0 0 0 Sarah C Valente Trustee (until 9/2018) 3.0 0.0 X 0 0 0 Ellen George Brackley Exec Asst & Asst Secretary 45.0 0.0 X 65808 0 26443 Jane E Corr Chief of Staff & Secretary 45.0 0.0 X 181567 0 20947 Elizabeth Dionne Dir&Asst Treas (until 3/2019) 45.0 0.0 X 193641 0 53409 Dorothy A Hauver Vice President and Treasurer 45.0 0.0 X 358863 0 103713 Timothy Jarry Chief Investment Officer 45.0 0.0 X 340127 0 61400 Lori A Blackwell EXEC ASST TO THE PRESIDENT 45.0 0.0 X 73357 0 33690 Tracy Barlok Vice President for Advancement 45.0 0.0 X 372090 0 49393 Margaret Freije Provost & Dean of the College 45.0 0.0 X 286913 0 111360 Daniel Kim Vice President Communications 45.0 0.0 X 217486 0 53037 Michele Murray Vice President Student Affairs 45.0 0.0 X 215750 0 50051 Elizabeth Small General Counsel 45.0 0.0 X 230187 0 53411 William Carmody Head Basketball Coach 45.0 0.0 X 386291 0 66750 John Cull Professor 45.0 0.0 X 254320 0 14733 Suzanne Kirschner Professor 45.0 0.0 X 250920 0 37241 Nathan Pine Director of Athletics 45.0 0.0 X 304188 0 48765 Frank Vellaccio Senior Vice President Emeritus 45.0 0.0 X 316686 0 62791 4048194 0 847134 201 false true false Cannon Design 99 Summer Street 600 Boston MA 02110 Architects 1439291 Cambridge Associates 125 High Street Boston MA 02110 Investment services 585000 Skanska USA Building Inc 389 Interpace Pkwy 5th Floor Parsippany NJ 07054 Construction mgmt 458595 KPMG LLP 2 Financial Center 60 South Street Boston MA 02111 Audit & tax services 333704 Sasaki Associates Inc 64 Pleasant Street Watertown MA 02472 Architects 249631 17 340976 34640558 2283623 34981534 Tuition and fees 611600 164378665 164378665 Room and board 611710 37957189 37957189 Sales of auxilliary services 722320 5739182 4098006 1641176 Athletics 611710 2466387 2466387 Grant and student aid revenue 611710 2106821 2106821 1723662 1723662 214371906 4432215 -3303600 7735815 0 0 204338 204338 0 204338 204338 319629768 307581735 12048033 12048033 695758 11352275 198552 340976 241077 -42525 -42525 0 0 0 0 0 0 0 265995501 212730730 -966666 19249903 80002 80002 63406632 63406632 2703268 2703268 0 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A PORTION OF THESE DUES MAY OR MAY NOT BE ATTRIBUTABLE TO LOBBYING ON BEHALF OF THE ASSOCIATION MEMBERS. THE COLLEGE IS UNABLE TO DETERMINE WHAT PORTION OF THE DUES, IF ANY, IS RELATED TO LOBBYING. FOR THESE ORGANIZATIONS THE COLLEGE PAID ANNUAL DUES OF $28,651 TO THE ASSOCIATION OF JESUIT COLLEGES AND UNIVERSITIES, $21,849 TO THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES AND $5,473 TO THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS. X 1 1 false 1305460 X X X false false true X 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 726052159 7853248 16284080 6834421 18597329 3448012 721309725 0.46100 0.26600 0.27300 false false 5862105 5862105 478590148 208739192 269850956 71024319 57836796 13187523 48438101 29381584 19056517 307957101 GLOBAL EQUITY 385913571 F HEDGE FUND ABSOLUTE RETURN 166674896 F PRIVATE EQUITY 126635430 F REAL ASSETS 55417825 F OTHER INVESTMENTS 3406311 F 738048033 0 INTEREST RATE SWAP 8181296 US GOVT REFUNDABLE ADVANCES 4970439 ANNUITY OBLIGATIONS 3870747 ACCRUED PENSION OBLIGATION 9075142 26097624 X 202202108 14289228 -74600453 -60311225 262513333 3723245 -241077 3482168 265995501 191728779 2519057 2519057 189209722 3723245 66140405 69863650 259073372 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, 2019 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 850 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 LAWS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI LINE 2D OTHER AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990 PART VIII LINE 12: CHANGE IN INTEREST RATE SWAP AGREEMENT $(1,850,762) POST RETIREMENT BENEFIT CHANGES $(8,887,266) INTRA-DEPARTMENTAL REVENUES $2,858,591 FINANCIAL AID RECLASS $(66,109,900) BAD DEBT EXPENSE $(752,661) AMORTIZATION OF ANNUITY OBLIGATION $172,050 NET MISCELLANEOUS $(30,505) ---------------------- TOTAL LINE 2D $(74,600,453) PART XI LINE 4B OTHER AMOUNTS INCLUDED ON FORM 990 PART VIII LINE 12 BUT NOT ON LINE 1: FUNDRAISING EXPENSE $ (241,077) PART XII, LINE 2D OTHER AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990 PART IX LINE 25: INTRA-DEPARTMENTAL REVENUES $2,858,591 FUNDRAISING EXPENSE $241,077 BAD DEBT EXPENSE $(752,661) AMORTIZATION OF ANNUITY OBLIGATIONS $172,050 ---------------------- TOTAL LINE 2D $2,519,057 PART XII, LINE 4B OTHER AMOUNTS INCLUDED ON FORM 990 PART IX LINE 25 BUT NOT ON LINE 1: FINANCIAL AID RECLASS $66,109,900 NET MISCELLANEOUS $30,505 -------------------- TOTAL LINE 4B $66,140,405 true true true true true true true false false false false false false false false true false true PART I LINE 3 A SUMMARY OF THE NON-DISCRIMINATION POLICY IS INCLUDED IN PRINT AND ELECTRONIC MEDIA DESCRIBING COLLEGE ADMISSION REQUIREMENTS. PART II LINE 6A 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. true Europe (Including Iceland and Greenland) 29 Program Services attend college abroad 3416602 East Asia and the Pacific Program Services attend college abroad 637556 South America 3 Program Services attend college abroad 421340 Central America and the Caribbean Program Services attend college abroad 302935 Russia and the Newly Independent States 2 Program Services attend college abroad 53133 South Asia Program Services attend college abroad 33697 Central America and the Caribbean Investments 168923354 Europe (Including Iceland and Greenland) Program Services SCHOLARSHIP 1632279 East Asia and the Pacific Program Services SCHOLARSHIP 422250 South America Program Services SCHOLARSHIP 390848 South Asia Program Services SCHOLARSHIP 40250 Russia and the Newly Independent States Program Services SCHOLARSHIP 70450 Central America and the Caribbean Program Services SCHOLARSHIP 46250 Sub-Saharan Africa Program Services SCHOLARSHIP 100941 34 34 176491885 176491885 Scholarship Europe (Including Iceland and Greenland) 95 1632279 ACCT CREDIT FMV Scholarship East Asia and the Pacific 16 422250 ACCT CREDIT FMV Scholarship South America 16 390848 ACCT CREDIT FMV Scholarship South Asia 5 40250 ACCT CREDIT FMV Scholarship Russia and the Newly Independent States 5 70450 ACCT CREDIT FMV Scholarship Central America and the Caribbean 3 46250 ACCT CREDIT FMV Scholarship Sub-Saharan Africa 4 100941 ACCT CREDIT FMV true false true true true false 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 III LINE 1 THIS AID IS PROVIDED TO RESIDENT AND NON-RESIDENT STUDENTS ATTENDING A STUDY ABROAD PROGRAM. X X X X X X X true Marts Lundy Inc 160 Chubb Avenue Suite 303 Lyndhurst NJ 07071 Profession al services false 137135 -137135 Carter Halliday Associates 107 South Street 5D Boston MA 02111 Profession al services false 34132 -34132 Michael Grinley PO Box 611 Goshen MA 01032 Profession al services false 17958 -17958 Ronald Joyce 39 Oakwood Drive Yarmouth ME 04096 Consultant false 17473 -17473 Give Campus Inc 903 G Street Washington DC 20003 Profession al services true 3615409 181965 3433444 3615409 388663 3226746 CA MA NH NY Council 333308 242808 90500 142543 Football 87967 58312 29655 35895 6 118253 39856 78397 62639 539528 340976 198552 241077 241077 -42525 PART I LINE 2 FUNDRAISING PAYEES ARE PAID FOR CONSULTING SERVICES NOT DIRECTLY RELATED TO FUNDRAISING REVENUES. true Rensselaer Polytechnic University 110 Eight Street Troy NY 12180 141340095 501(c)3 16681 Research Town of West Boylston 127 Hartwell Street Suite 100 West Boylston MA 01583 046001348 115 12000 Library support Worcester Regional Tourism and Visitors Corp 311 Main Street Suite 200 Worcester MA 01608 041988780 115 10000 Ice rink sponsorship City of Worcester 455 Main Street Worcester MA 01608 046001418 115 10000 Summer programs Blackstone River Valley 1 Depot Square Woonsocket RI 02895 273086245 501(c)3 25000 Community visitor center 5 Scholarship 1806 63406632 FMV Account Credited 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. 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 false true false false false false false false false Jane E Corr Chief of Staff & Secretary 161449 0 0 0 20118 0 18987 0 1960 0 202514 0 0 0 Elizabeth Dionne Dir&Asst Treas (until 3/2019) 192820 0 0 0 821 0 21792 0 31617 0 247050 0 0 0 Dorothy A Hauver Vice President and Treasurer 313767 0 0 0 45096 0 30432 0 73281 0 462576 0 0 0 Timothy Jarry Chief Investment Officer 338780 0 0 0 1347 0 30432 0 30968 0 401527 0 0 0 Tracy Barlok Vice President for Advancement 318003 0 0 0 54087 0 30432 0 18961 0 421483 0 0 0 Margaret Freije Provost & Dean of the College 283070 0 0 0 3843 0 30432 0 80928 0 398273 0 0 0 Daniel Kim Vice President Communications 206537 0 0 0 10949 0 23052 0 29985 0 270523 0 0 0 Michele Murray Vice President Student Affairs 214992 0 0 0 758 0 23907 0 26144 0 265801 0 0 0 Elizabeth Small General Counsel 228719 0 0 0 1468 0 25632 0 27779 0 283598 0 0 0 William Carmody Head Basketball Coach 378693 0 0 0 7598 0 30432 0 36318 0 453041 0 0 0 John Cull Professor 87284 0 0 0 167036 0 8815 0 5918 0 269053 0 0 0 Suzanne Kirschner Professor 58421 0 0 0 192499 0 5842 0 31399 0 288161 0 0 0 Nathan Pine Director of Athletics 277984 0 25000 0 1204 0 30432 0 18333 0 352953 0 0 0 Frank Vellaccio Senior Vice President Emeritus 292039 0 0 0 24647 0 30432 0 32359 0 379477 0 0 0 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. JOHN CULL AND SUZANNE KIRSCHNER RETIRED IN AUGUST 2018 AND RECEIVED $165,285 AND $191,695, RESPECTIVELY IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGE'S EARLY RETIREMENT PROGRAM. THERE ARE NO OTHER AMOUNTS TO BE PAID. A Massachusetts Development Finance Agency 2008A 043431814 57583RUZ6 2008-05-08 45340000 Refunding 2007A Issue false false false B Massachusetts Development Finance Agency 2016A 043431814 57584XLE9 2016-04-06 42545003 Refund 2008B Issue & Construction false false false C Massachusetts Development Finance Agency 2017A 043431814 57584XR60 2017-06-06 14441700 Refunding 2007B Issue false false false D Massachusetts Development Finance Agency 2018A 043431814 57584YFT1 2018-06-07 24144512 Refunding 2008B Issue false false false A 10695000 0 45340000 0 0 0 181594 158406 0 0 45000000 0 true false true true B 0 0 42545003 0 0 0 476785 0 0 30004560 12063658 0 2018 false true true true C 1910000 0 14441700 0 0 0 208409 0 0 0 14233291 0 true false true true D 0 0 24144512 0 0 0 311467 0 0 0 23883045 0 true false true true A false true true false true false 0 0.00910 0.00910 false false false true B false true true false false 0 false false false true C 0 D 0 A false false true false true true Bank of America LLC 28.3 false false false 0 false true B false true false false false false 0 false 0 false true C false false true false false false 0 false 0 false true D false false true false false false 0 false 0 false true A true B true C true D true 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. PART III 3A AND B THE COLLEGE HAS SERVICE CONTRACTS WITH AN ELEVATOR REPAIR COMPANY AS WELL AS CLEANING SERVICES FOR SOME PROPERTY. THE ELEVATOR REPAIR CONTRACT AND THE CLEANING SERVICES CONTRACT BOTH MEET THE INCIDENTAL SERVICES EXCEPTION. PART IV LINE 2C FOR BOND ISSUES MDFA 2008A, MDFA 2017A AND MDFA 2018A, NO REBATE IS DUE AS THE REMAINING FUNDS ARE A "BONA FIDE DEBT SERVICE FUND" MEETING THE REQUIREMENTS TO BE EXEMPT FROM THE REBATE REQUIREMENTS. Student Margaret Freije, Officer 3600 Research fellowship research fellowship Kevin Blanchard Ellen G Brackley, Officer 79017 compensation to family member false Jeffrey Barlok Tracy Barlok, Key EE 59036 compensation to family member false AE Industrial Partners LP Michael Greene, Officer 727090 Investment Balance & Inv Fees false REBECCA BLACKWELL LORI BLACKWELL, OFFICER 45905 compensation to family member false PART IV LINE 1 TRUSTEE MICHAEL GREENE IS MANAGING GENERAL PARTNER FOR AE INDUSTRIAL PARTNERS, LP. THE COLLEGE HAS COMMITTED $10 MILLION TO AE INDUSTRIAL PARTNERS, LP WITH REMAINING CAPITAL TO BE CALLED OF $9.2 MILLION AT JUNE 30, 2019. THE COLLEGE'S INVESTMENT BALANCE WAS $655,090 AT JUNE 30, 2019, AND MANAGEMENT AND INCENTIVE FEES PAID BY THE COLLEGE FOR THE YEAR THEN ENDED WERE APPROXIMATELY $72,000. KEVIN BLANCHARD, AN EMPLOYEE OF THE COLLEGE IS RELATED TO AN OFFICER AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES TOTALING $79,017 DURING FISCAL YEAR 2019. REBECCA BLACKWELL, AN EMPLOYEE OF THE COLLEGE IS RELATED TO AN OFFICER AND RECEIVED COMPENSATION AND BENEFITS FOR HER SERVICES TOTALING $45,905 DURING FISCAL YEAR 2019. JEFFREY BARLOK, AN EMPLOYEE OF THE COLLEGE IS RELATED TO A KEY EMPLOYEE AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES TOTALING $59,036 DURING FISCAL YEAR 2019. X 116 2283623 AVG PRICE QUOTE 4 false true true PART I LINE 9 COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE TO THE COLLEGE. PART I LINE 32A THE COLLEGE USES A REGISTERED BROKER TO SELL SECURITIES THAT ARE GIFTED 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 7,054 STUDENTS WHO APPLIED FOR THE FIRST-YEAR CLASS THAT ENROLLED IN FALL 2018 (FISCAL 2019), THIRTY-EIGHT PERCENT (OR 2,681) WERE ADMITTED AND 868 OPTED TO ENROLL. THE ENTERING CLASS WAS EQUALLY BALANCED BETWEEN MEN AND WOMEN AND REPRESENTED STUDENTS FROM 35 STATES, TERRITORIES, THE DISTRICT OF COLUMBIA AS WELL AS 9 FOREIGN COUNTRIES. FULL-TIME ENROLLMENT TOTALED 3,102 IN FALL 2018, WITH 698 STUDENTS GRADUATING DURING THE FISCAL YEAR, NEARLY ALL IN MAY 2019. APPROXIMATELY 22 PERCENT OF THE COLLEGE'S FULL-TIME ENROLLMENT CONSISTED OF ASIAN, AFRICAN-AMERICAN, HAWAIIAN, HISPANIC, OR NATIVE-AMERICAN STUDENTS AND AN ADDITIONAL 3 PERCENT WERE INTERNATIONAL STUDENTS. FORM 990, PART VI, SECTION A, LINE 1A 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, 2019 INCLUDED; REV. PHILIP L. BOROUGHS, S.J., HELEN W. BOUCHER, M.D., ANNE M. FINK, REV. JAMES G. GARTLAND, S.J., AND RICHARD H. PATTERSON. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE 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 AUDIT COMMITTEE MEMBERS ARE ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER THE AUDIT COMMITTEE 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 AUDIT COMMITTEE 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 AUDIT COMMITTEE. THE AUDIT COMMITTEE CONSIDERS THE BEST INTERESTS OF THE COLLEGE AND THE NATURE OF THE CONFLICT. THE AUDIT COMMITTEE 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 AUDIT COMMITTEE MAY CONSIDER WHETHER ADVICE FROM LEGAL COUNSEL OR OTHER INDEPENDENT ADVISORS IS NECESSARY IN PARTICULAR INSTANCES. THE AUDIT COMMITTEE 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 AUDIT COMMITTEE'S DETERMINATION WITH RESPECT TO THE SPECIFIC PROCEDURES THE MEMBER WILL FOLLOW REGARDING THE ISSUE OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A AND B 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. 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 X, LINE 11 ON THE FORM 990, THE COLLEGE INCLUDES IN THE CATEGORY OF PUBLICLY TRADED SECURITIES CERTAIN INVESTMENTS VALUED USING NET ASSET VALUE AS THE PRACTICAL EXPEDIENT WHEN THE UNDERLYING INVESTMENTS ARE PUBLICLY TRADED. THESE ASSETS MAY BE HELD IN PRIVATE EQUITY FUNDS OR OTHER SIMILAR VEHICLES. Form 990, Part X, Lines 27, 28, and 29 THE COLLEGE HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2019 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF FORM 990, PART X, LINES 27, 28, AND 29, THE COLLEGE HAS REPORTED NET ASSETS WITHOUT DONOR RESTRICTIONS AS UNRESTRICTED NET ASSETS AND NET ASSETS WITH DONOR RESTRICTIONS AS PERMANENTLY RESTRICTED NET ASSETS AND TEMPORARILY RESTRICTED NET ASSETS, RESPECTIVELY. FORM 990, PART XI, LINE 9 POST RETIREMENT BENEFIT CHANGES $ (8,887,266) CHANGE IN INTEREST RATE SWAP AGREEMENT $ (1,850,762) ---------------- TOTAL $(10,738,028) Quinsigamond Village LLC One College Street Worcester MA 01610 464605316 Real estate MA 1190000 Holy Cross Alchemy Plan (Crusader) LP TRAFALGAR COURT LES BANQUES GK GY1 3QL 900401997 Investing GK NA 2016555 true 0 false 0.99500 Charitable remainder trusts (8) One College Street Worcester MA 01610 CHAR REMAINDE MA NA Trust false false false false false false false false false false false false false false false false false false false true Alchemy Plan LP s 610996 FMV