2019-05-02T16:37:25-07:00 2018-06-30 990 2017-07-01 240795460 MORAVIAN COLLEGE MORA 6108611300 1200 Main Street Bethlehem PA 18018 Mark F Reed VP of Finance & Administration 6108611312 2019-05-02 204.186.195.180 2017 2019-02-21 02:37:17Z MARK F REED 1200 MAIN STREET BETHLEHEM PA 18018 136012966 0 X www.moravian.edu X 1863 PA Moravian College's liberal arts education prepares each individual for a reflective life, fulfilling careers, and transformative leadership in a world of change. 44 39 1736 54 -43227 -52627 6836399 6317243 85392496 96167730 8538922 10617012 5394833 407317 106162650 113509302 34168347 37086352 0 0 38800035 39307656 0 0 1735156 25614272 31395018 98582654 107789026 7579996 5720276 274320203 285073771 77909413 84436949 196410790 200636822 Moravian College's revolutionary experience is focused on creating a community of learners where students work closely with professors to develop the skills and habits of the liberal arts and integrate them into professional careers through experiential learning. By focusing on the skills of communication, analysis, teamwork and leadership, ethical reasoning, global awareness and critical thinking, Moravian College prepares students with the transferable skills needed for any career. A Moravian education is unique in its use of history, skill of reflectivity and its encouragement to be producers. The founders of Moravian College were producers as well as educators, so a Moravian education focuses on the production of new knowledge, music, literature, art and technology. Students put all these skills into practice through undergraduate research, study abroad, internships, co-ops, certificates and first professional graduate degrees. 0 0 85575900 36877695 82045584 Liberal Arts College: Moravian College operates and independent, residential liberal arts college affiliated with the Moravian Church in America. The College offers undergraduate and graduate programs to prepare men and women for advanced study and continuous learning, individual achievement, and leadership and service for the common good. Moravian College and its Theological Seminary educate a diverse group of students from a variety of socioeconomic, religious, racial and ethnic backgrounds. During the year ended June 30, 2018, the College had enrollment of 2,417 full-time equivalent students in the undergraduate program and 205 full-time equivalent students in the graduate programs. 1716532 208657 816819 Theological Seminary: Moravian Theological Seminary offers graduate degrees and continuing education programs to prepare men and women for effective leadership and service in congregational, counseling, chaplaincy, teaching, and other ministries. The Seminary is rooted in the Moravian faith tradition-centered in Jesus Christ, grounded in Scripture, ecumenical in spirit, committed to community, and focused on missional leadership. Average full-time equivalent enrollment for the year ended June 30, 2018 was 44. 9032938 0 13758815 Auxiliary Enterprises: Moravian College provides textbooks, educational materials and supplies through its bookstore, living accommodations through its dormitories and provides nutritious meals through its food services to the students listed in Part III, lines 4a and 4b. 0 0 0 96325370 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 1 0 0 1 3177 0 1 1736 1 1 1 1 BD CJ 0 0 0 1 1 1 1 0 0 0 X 44 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X Rachael Lyall 6108611304 1200 Main Street Bethlehem PA 18018 Mr Curtis H Barnette College Trustee 1.5 X 0 0 0 Mr Woodrow Battle College Trustee 1.5 X 675 0 0 Mr Ray S Bishop Jr College Trustee 1.5 X X 0 0 0 Mrs Laurie R Brubaker College Trustee 1.5 X 0 0 0 Ms Melissa Cheong College Trustee 1.5 X 1057 0 0 Mr Gregory Christensen College Trustee 1.5 X 0 0 0 Mr Brian J Corvino College Trustee 1.5 X 0 0 0 Mr Craig Danielson College Trustee 1.5 X 0 0 0 Mr Michael M Ellis College Trustee 1.5 X 0 0 0 Robert Flicker College Trustee 1.5 X 0 0 0 Mr J William Reynolds College Trustee 1.5 X 0 0 0 Hilary Wandall College Trustee 1.5 X 0 0 0 Mrs Jessica Grillo College Trustee 1.5 X 0 0 0 Mr Andrew W Hart College Trustee 1.5 X 0 0 0 Dr Joyce Hinnefeld College Trustee 40 X 77101 0 9220 Mr Michael Lazari Karapetian College Trustee 1.5 X 0 0 0 Ms Maggie Jones College Trustee 1.5 X 0 0 0 Mrs Deborah McKinnon College Trustee 1.5 X X 0 0 0 Mr Brian H Oswald College Trustee 1.5 X 0 0 0 Dr James Paxton College Trustee 40 X 68633 0 5810 Mr A Reed Raymond College Trustee 1.5 X 0 0 0 Dr William S Schaninger Jr College Trustee 1.5 X 0 0 0 Mr Robert J Schoenen College Trustee 1.5 X X 0 0 0 Dr Honnie P Spencer College Trustee 1.5 X 0 0 0 Dr Susan M Studds College Trustee 1.5 X 0 0 0 Mr Greg Weir College/Seminary Trustee 1.5 X 0 0 0 Mr David Zinczenko College Trustee 1.5 X 0 0 0 Rev David E Bennett College/Seminary Trustee 1.5 X 0 0 0 The Rev David B Guthrie College/Seminary Trustee 1.5 X 0 0 0 The Rev Dr Elizabeth D Miller College/Seminary Trustee 1.5 X 0 0 0 Mr Kenneth Rampolla College/Seminary Trustee 1.5 X X 0 0 0 Dr Bryon L Grigsby President/College & Seminary Trustee 40 X X 331842 0 40894 The Rev Dr Deborah Appler Seminary Trustee 40 X 73807 0 27538 Mr F Scott Bauer Seminary Trustee 1.5 X 0 0 0 Mr Stephen Black Seminary Trustee 1.5 X 0 0 0 The Rt Rev M Blair Couch Seminary Trustee 1.5 X 0 0 0 The Rev Brian R Dixon Seminary Trustee 1.5 X 0 0 0 The Rev Dr Eileen Edwards Seminary Trustee 1.5 X 0 0 0 The Rev Dr Amy Gohdes-Luhman Seminary Trustee 1.5 X 0 0 0 The Rev Laura Gordon Seminary Trustee 1.5 X 0 0 0 Mr Ellison D Mullis II Seminary Trustee 7 X 0 0 0 Bishop John R Schol Seminary Trustee 1.5 X 0 0 0 Mrs Heather H Vacek Seminary Trustee 1.5 X X 0 0 0 The Rev Katie Van Der Linden Seminary Trustee 1.5 X 0 0 0 Mrs Joyce Vance Seminary Trustee 1.5 X 0 0 0 The Rev F Jeffrey VanOrden Seminary Trustee 1.5 X 0 0 0 Helen Kurczynski Seminary Trustee 1.5 X 0 0 0 The Rev Dr Janice M Young Seminary Trustee 1.5 X 0 0 0 The Rev Zachary Dease Seminary Trustee 1.5 X 0 0 0 Ms Laura Hayworth Seminary Trustee 1.5 X 0 0 0 The Rev Fran Spier Saylor Seminary Trustee 1.5 X 0 0 0 Frank L Crouch VP/Dean Theo Sem/Sem Trustee 40 X 95200 0 29628 Cynthia K Kosso Provost & Dean of Faculty 40 X 168159 0 33459 Mark F Reed VP for Finance & Administration 40 X 162662 0 34728 Gary A Carney VP Institutional Advancement 40 X 162732 0 43068 Ms Nicole Loyd VP Student Affairs/Dean of Students 40 X 151364 0 21228 Kerry H Cheever Professor 40 X 122949 0 9771 James Reece Scifers Chair of Rehabilitation Sciences 40 X 137318 0 19571 Carol A Traupman-Carr Associate Provost 40 X 122470 0 23717 Diane W Husic Dean-School of Natural & Health Sciences 40 X 123188 0 19330 Bernardo J Cantens Professor 40 X 122294 0 71489 1921451 0 389451 28 0 1 0 Sodexo Inc & Affiliates 4880 Paysphere Circle Chicago IL 60674 Contract food service management 2702603 CSI International Inc 6700 North Andrews Ave Suite 400 Ft Lauderdale FL 33309 Contract custodial services 812964 SEI Investments 1 Freedom Valley Drive Oaks PA 19456 Investment management 422576 Royall & Company 1920 East Parham Road Richmond VA 23228 Admissions-Student promotion 202111 Adams Outdoor Advertising PO Box 809140 Chicago IL 60680 Advertising 197700 9 0 0 82556 0 882797 5351890 1035489 6317243 Tuition & Fees 611310 82368057 82368057 0 0 Dormitory Fees & Rentals 611310 7470140 7470140 0 0 Board Revenue 611310 6163165 6163165 0 0 Athletic Receipts 611310 23453 23453 0 0 Federal Admin Reimbursement 611310 41900 41900 0 0 101015 91615 9400 0 96167730 4682292 0 -54571 4736863 0 0 0 0 0 0 0 0 375269 0 242865 0 132404 0 132404 15176 1944 115284 28091973 28416 22158453 27216 5933520 1200 5934720 0 0 5934720 51192 82556 75130 -23938 0 -23938 0 0 0 0 0 0 0 0 0 0 0 0 Student Fees & Fines 611310 154933 154933 0 0 Miscellaneous 611310 143918 132199 0 11719 0 0 0 0 298851 113509302 96460638 -43227 10774648 0 0 37086352 37086352 0 0 0 0 1380208 477133 705427 197648 0 0 0 0 29352759 25218837 3232482 901440 1930807 1662272 211240 57295 4497957 3815083 534439 148435 2145925 1798697 271878 75350 255030 255030 0 0 75595 21014 54581 0 92804 0 92804 0 0 0 0 0 0 0 428067 0 428067 0 153911 41357 81445 31109 496363 47509 448819 35 1517639 1092681 294718 130240 1796843 663602 1133241 0 0 0 0 0 4751283 4219086 532197 0 1226797 1090182 79470 57145 0 0 0 0 0 0 0 0 2386569 2126825 259744 0 0 0 0 0 8508472 7847255 661217 0 143204 138528 4676 Food Service Expense 5034541 5034481 0 60 Student Government 473158 473158 0 0 Grounds Maintenance 464708 464708 0 0 Athletics Other Costs 366260 366260 0 0 3223774 2385320 702055 136399 107789026 96325370 9728500 1735156 15738 15514 8076684 9389883 11948003 11365239 2128916 1736521 0 0 1367817 1367817 37425 0 4543175 4853892 227488685 100054256 121796474 127434429 74541791 83204585 35027190 32337914 6688411 6577832 0 0 8148579 6790145 274320203 285073771 5172690 6730709 1694888 1891373 65137531 66015282 0 0 0 0 5904304 9799585 77909413 84436949 X 86764650 86821867 37474377 39308828 72171763 74506127 196410790 200636822 274320203 285073771 X 5720276 -1362596 0 0 0 -131648 X 1 X 1 X 1 1 1 X 0 4539425 0 0 X X X 0 106709021 2579612 8686334 1805530 2801492 428068 112939877 97298995 3169132 11043028 1736700 2764144 301290 106709021 100942754 2591183 -1661426 1656459 2647989 269068 97298995 101009201 2687899 1555176 1546490 2536300 226732 100942754 90483685 1746360 13237261 1621579 2650612 185914 101009201 0.18 0.82 0 1 0 5547722 0 5547722 138855606 0 52293098 86562508 0 0 0 0 46725824 0 32789129 13936695 36359533 0 14972029 21387504 127434429 Alternative investments (Hedge/PE/Asset) 32337914 F 32337914 Refundable federal loans 1193187 Annuity payable 1022048 Accumulated post-retirement benefits 394980 Capital lease obligations 3663644 Misc other liabilities 3525726 9799585 X 74575768 -1362596 0 0 -37218003 -38580599 113156367 428067 -75132 352935 113509302 70349736 0 0 0 75129 75129 70274607 428067 37086352 37514419 107789026 Schedule D, Part III, Line 4 Moravian College's permanent collection consists of art works in varying media (paintings, prints, sculpture, digital etc). The collection, as well as other traveling exhibitions, are displayed in the Payne Gallery of the College. The Payne Gallery promotes the power of the arts to inspire and educate people and to enrich their lives. To this purpose, the Payne Gallery builds and maintains exemplary art collections and produces a wide variety of challenging and innovative exhibitions and stimulating educational programs. As an integral part of the College, the Payne Gallery advances teaching and learning and is conceived as an extension of undergraduate students' education in art by exposing them to styles and techniques which they do not learn in the classroom. In addition, the Payne Gallery serves as a catalyst for creative engagement between the College and diverse local, state and national audiences. Schedule D, Part V, Line 4 The College's endowment consists of over 529 individual funds established for a variety of purposes. It includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. As required by authoritative guidance, net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. Schedule D, Part X, Line 2 Moravian College and MCHI qualify as tax-exempt, nonprofit organizations under Section 501(c)(3) of the Internal Revenue Code. Accordingly, there is no provision for federal or state income taxes. The College accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined that there were no tax uncertainties that met the recognition threshold at June 30, 2018 and 2017. Schedule D, Part XI, Line 2d $37,086,352 Student Aid; $131,651 Change in value of split interest agreements Schedule D, Part XI, Line 4b $75,132 special fund raising event costs Schedule D, Part XII, Line 2d $75,132 special fund raising event costs; -$3 rounding Schedule D, Part XII, Line 4b $37,086,352 Student Aid 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 There are several links to the Moravian College Non Discrimination Statement on the college's public website, www.moravian.edu, which can be viewed by anyone at any time. A link can be found on the website home page under Resources and under Institutional Policies. There is also a link to the Non-Discrimination Statement on the Student Handbook web page. Schedule E, Part I, Line 6 The College receives National Science Foundation grants, National Endowment for the Humanities grants and a NASA sub-grant through West Virginia University Research Corporation. Students attending the College participate in Federal Family Education Loans, Direct Student Loans, Perkins Loans, PELL grants, Supplemental Educational Opportunity Grants, Federal work study program, the Academic Competitiveness Grant, the National Smart Grant, US Department of Veterans Affairs and US Department of Health and Human Services programs. Central America and the Caribbean 0 0 Program Services Educational trip 10940 East Asia and the Pacific 0 0 Program Services Study abroad & educational trip 37827 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad & educational trips 153571 South America 0 0 Program Services Study abroad & educational trips 12577 Sub-Saharan Africa 0 1 Program Services Student recruiting 5488 Central America and the Caribbean 0 0 Investments Investments 19799207 0 1 20019610 0 0 0 1 1 0 Schedule F, Part I, Line 3 Accounting method - Accrual Moravian College Blue & Grey Golf Classic 74868 55656 19212 0 2055 16070 337 0 5051 Moravian College Night of Stars 58880 26900 31980 0 1540 15578 18172 5625 10702 0 133748 82556 51192 0 3595 31648 18509 5625 15753 75130 -23938 1 Scholarships and grants for various students. 1994 37086352 Schedule I, Part I, Line 2 Moravian College follows state and federal regulations in administering scholarships and grants as well as institutional policy when administering college funds. The College follows federal methodology to determine financial need for awarding federal funds and need-based institutional funds. All students applying for financial aid follow an annual application process by completing the Free Application for Federal Student Aid (FAFSA). Files are reviewed for conflicting information and to complete required verification of application data. Moravian credits all financial aid awards, except for work study, directly to students' receivable account offsetting charges for tuition, fees and campus room and board. Changes in student enrollment status are reviewed to ensure that students remain eligible for financial aid and awards are adjusted as necessary. Any refunds from student accounts are done in compliance with state and federal regulations. X X X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 Gary A Carney VP Institutional Advancement 160434 0 0 0 2299 0 13261 0 29806 0 205800 0 0 0 Bernardo J Cantens Professor 122182 0 0 0 112 0 6259 0 65230 0 193783 0 0 0 Dr Bryon L Grigsby President/College & Seminary Trustee 291774 0 39000 0 1068 0 22351 0 18543 0 372736 0 0 0 Cynthia K Kosso Provost & Dean of Faculty 168159 0 0 0 0 0 13975 0 19484 0 201618 0 0 0 Ms Nicole Loyd VP Student Affairs/Dean of Students 150569 0 0 0 795 0 12041 0 9187 0 172592 0 0 0 Mark F Reed VP for Finance & Administration 162266 0 0 0 396 0 13514 0 21214 0 197390 0 0 0 James Reece Scifers Chair of Rehabilitation Sciences 137182 0 0 0 136 0 10335 0 9235 0 156888 0 0 0 Schedule J, Part I, Line 1a Moravian College provides housing to the President of the College. The house is adjacent to the campus and the College requires, as a condition of employment, that the President reside there. Similarly, College owned housing adjacent to the campus is provided to the Provost of the College and is a condition of employment. Accordingly, it is not taxable income in either case. Also, the College maintains a social club membership in the name of the President. The social club is used by the President and any personal charges are reimbursed to the College monthly. The College provides limited housekeeping services for the President and the Provost relative to College functions. Accordingly, the social club membership and limited housekeeping services are not included in taxable income. The College paid for travel expenses for the President's companion. Schedule J, Part I, Line 4 The President participates in a supplemental 457b non-qualified plan. Schedule J, Part I, Line 7 The President's variable compensation was paid based upon criteria determined by the Board of Trustees. A Northampton County General Purpose Authority 231971754 66353LBQ9 2012-04-04 22522097 Refunding of callable 1999 and 2001 bonds 0 0 0 B Northampton County General Purpose Authority 231971754 66353LCC9 2013-01-31 9999015 Renovations to existing Hall of Science 0 0 0 C Northampton County General Purpose Authority 231971754 66353LDA2 2016-02-04 31276463 Construct new turf field and Health Science Bldg. Refinance 2011 issue. Equity purchase of MCHI. 0 0 0 A 4442097 0 22522097 2153342 0 0 0 0 0 0 20339807 0 2012 1 0 1 1 B 1089015 0 9999015 0 0 0 0 0 0 9827914 0 0 2013 0 0 1 1 C 265000 0 31276463 0 0 0 338224 0 0 27427346 3510893 0 2017 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2c-04/04/2012 22,522,097 Northampton County General Purpose Authority NCGPA 2012 bond arbitrage computation performed on 04/04/2018. Schedule K, Part IV, Line 2c-01/31/2013 9,999,015 Northampton County General Purpose Authority NCGPA 2013 bond final arbitrage computation performed on 1/31/2018. No further rebate calculations are due. Schedule K, Part IV, Line 2c-02/04/2016 31,276,463 Northampton County General Purpose Authority NCGPA 2016 bond final arbitrage computation performed on 1/17/2018. No further rebate calculations are due. Various Individuals Trustees 82622 Financial Aid Financial assistance to attend Moravian College Mark F Reed Officer of Moravian College 365279 Various - see Part V 0 Bryon Grigsby Officer/Director of Moravian College 0 Various-see Part V 0 Nicole Loyd Employee of Moravian College 0 Various-see Part V 0 Schedule L, Part IV Line 1-3 (d) The following transactions occurred between Moravian College and Moravian College Housing Inc. (MCHI). The aggregate amounts are reported once in Part IV Line 1 (c). Accrued Interest on $1,000,000 note receivable $40,000; reimbursement of expenses incurred on behalf of MCHI $275,000; lease of classrooms to Moravian College $50,279. X 1 1 FMV X 20 542005 FMV X 1 400000 FMV X Equipment 26 91891 FMV X Gifts/Prizes 2 543 FMV 0 0 1 1 Schedule M, Part I, Line 32b Moravian College hires a brokerage firm to sell all securities received in-kind upon confirmation of receipt with the College. Form 990, Part VI, Section B, Line 11b Moravian College and Theological Seminary (Institution) recognize that the governance role of the Joint Board includes the annual review of the Form 990. Accordingly, the institution requires review of the Form 990 by the Boards prior to its filing on an annual basis. The review process includes the opportunity for Board members to provide feedback and requires documented responses from management that address Board member questions and concerns. The process, as outlined below, must be completed no later than the 15th day of the 11th month following the fiscal year ending period (assuming all extensions have been filed timely). With extensions filed, for a June 30th fiscal year end, the process must be completed and the 990 must be filed no later than May 15th of the following year. A Board resolution is not required in order for the Form 990 to be filed. Process: 1. Management shall be responsible for assembling, preparing and inputting all required information necessary for filling out the online Form 990. 2. Initial Draft shall be reviewed by management for accuracy. Accuracy of the Initial Draft shall be verified by management through: * Ensuring the accuracy of the content input * Ensuring that the content input is properly reflected in the Initial Draft 3. Any changes by management to the Initial Draft shall be incorporated where appropriate, and a revised draft ("Revised Draft") of the 990 will generated. 4. Management shall ensure that changes to the Initial Draft are properly reflected in the Revised Draft and that the Revised Draft, with the accuracy of the content now verified by management, is suitable for the Board to do a proper review. 5. In a timeframe sufficiently in advance of the due date, management will make the Revised Draft available for review to all members of the Audit Committee. Management will make the 990 available to the committee members via a secure Trustee website. 6. When the committee members have had an opportunity to sufficiently review the 990, the Audit Committee shall meet with management (in person or via teleconference) to discuss content of Revised Draft and present any recommended changes. Recommended changes will be incorporated into the return as appropriate, and a final draft ("Final Draft") of the return will be completed. Any questions or recommended changes by the Audit Committee shall be documented along with management responses ("Feedback"). 7. The Audit Committee shall make the Final Draft and Feedback available for review to all members of the Boards of the College and Seminary. The Final Draft will be made available to the Board members via a secure Trustee website. Board members shall be notified of the filing date at the time the Final Draft is posted to the Trustee website. Comments from Board members must be forwarded to management no less than 7 days prior to the filing date. Recommended changes will be incorporated into the return as appropriate, and a final return ("Final Return") will be generated Changes and comments will be documented and posted to the Trustee website. 8. Upon filing with the IRS, the Final Return shall be posted to the Trustee website. Form 990, Part VI, Section B, Line 12c Conflicts of interest forms for all employees are initially submitted to the Office of Human Resources. The Chief Human Resource Officer assesses whether action or monitoring is required, soliciting the opinion of the Vice President for Finance and Administration if necessary. All conflicts that are disclosed are reported to the Audit Committee and the Governance Committee at least annually. Conflict of interest forms for trustees are submitted to, and reviewed by, the office of the President. Persons are required to comply with the Policy and disclose and announce any conflict, and abstain from involvement in any decision where the conflict would apply. Form 990, Part VI, Section B, Line 15 Purpose: The Joint Executive Committee shall determine the institution's executive compensation philosophy and establish such guidelines, rules and procedures as necessary for the proper and efficient administration of the Executive Compensation Program ("ECP"). The Joint Executive Committee shall determine that the ECP is appropriate in view of the mission and tax-exempt status of Moravian College, and that its compensation and benefits are reasonable and not excessive. It shall evaluate the President, and determine the compensation of the President, and shall review and approve all other forms of executive compensation and benefits subject to approval by the Boards, and shall report its actions in full to the Joint Board, College Board, and Seminary Board annually. To that end, the Committee shall review and approve all forms of executive compensation and benefits in a manner necessary to qualify for the "Rebuttable Presumption of Reasonableness" under the intermediate sanctions rules of section 4958 of the Internal Revenue Code. Membership: There shall be a Joint Executive Committee of the Joint Board of Trustees which shall consist of the following: the Chair and Vice Chair of the Board of College Trustees, the Chair and Vice Chair of the Board of Seminary Trustees, the President of the Corporation, the Secretary of the Corporation and the Treasurer of the Corporation; either the Northern or Southern Province President; and such additional members, if any, elected by the Joint Board (from the College Board and from the Seminary Board). The Chair of the Joint Executive Committee shall be the Chair of the College Board of Trustees and the Vice Chair shall be the Chair of the Seminary Board of Trustees. The executives whose compensation will be approved by the Committee currently consist of the 8 individuals in the following positions: - the Vice President of Finance and Administration; the Provost and Dean of Faculty; the Vice President of Student Affairs and Dean of Students; the Vice President of Development & Alumni Relations; the Vice President and Dean of the Seminary; the Vice President of Human Resources; the Chief Information Officer; and the Vice President for Planning and Research. From time to time the Committee in its discretion may amend this list to add/subtract individuals as determined by new recruitments, promotions, realignment in organizational structure and the like. Compensation Philosophy: The Committee is charged with the responsibility to establish and maintain a Compensation Package that will enable the institution to attract, retain, motivate and reward the Management Team Leadership needed to successfully accomplish the Institution's Mission and Strategic and Operational Goals. The following will provide the necessary guidelines to accomplish this objective: - A total compensation concept will be used employing a combination of base salary, benefits, deferred compensation and other perquisites as may be needed from time to time to maintain a competitive position with peer institutions. The committee also has the authority to implement other methods of compensation, e.g. variable pay, as may be necessary from time to time in order to attract and retain qualified executives. - Base Salary will be targeted as a minimum at the 50th percentile of similar positions for experienced professionals as reported annually by CUPA HR (College and University Professional Association for Human Resources) for baccalaureate institutions. Wage levels for the specific executives listed previously shall be established and maintained based upon general experience, specific performance, and overall contribution to the success of the institution. Annual reviews will take place prior to July 1 each year. - The overall goal shall be to maintain equity and fairness in compensation demonstrated through comparability with peers and through the consistent application of principles. - Deferred compensation and perquisite opportunities may be developed to optimize whatever tax deferral opportunities exist within the tax code and to be competitive with peer institutions. - This philosophy shall apply in nearly all cases, except in those very rare circumstances when it is necessary to recruit and retain highly market sensitive positions. Such exceptions will be carefully documented. Committee Responsibilities: The Committee has the responsibility to: - Set the Executive Compensation Philosophy and obtain approval from the Board of Trustees. - Implement a process for evaluation of the President and his/her Senior Staff. - The President's evaluation shall be carried out by the Chair of the Joint Board and brought to the attention of the Committee. - The President's evaluation shall include considerations of current year performance review, 360 reviews from the President's Senior Staff, and input from every board member (optional) via a standard performance evaluation form. - The President shall submit his/her current year performance evaluation of each one of the Senior Staff to the Committee. This evaluation shall be based on regular annual performance review, 360 reviews and input from each Committee Chair of the two Board(s) who annually shall submit to the President an evaluation of the Senior Staff member who supports that Committee. - The President will recommend salary adjustments for his senior staff to the Committee for review and approval. - Set, monitor and review the compensation of the President. - Approve the President's compensation recommendations of the members of his/her Senior Leadership Team. - Ensure that said compensation is reasonable and within the bounds of IRS code 4958 (Intermediate Sanctions). In reaching this judgment the Committee seeks out expert opinion, market analysis and may retain an independent consultant for this purpose. - Establish, monitor and determine accomplishment of pay award goals for the President. - Approve accomplishment of pay award goals for other executives, as applicable. - Resolve and determine all disputes or questions arising under the program, including the power to determine the rights of executives and to remedy any ambiguities, inconsistencies or omissions. - Amend or restructure the program at any time and for any reason. - Inform the Board of Trustees and the Joint Executive Committee as appropriate. - Assure compliance with IRS regulations including approval of the top five (5) paid positions. Form 990, Part VI, Section C, Line 19 Financial Statements are available on the College website (www.moravian.edu). Governing documents and conflict of interest policies are made available upon request. Form 990, Part XI, Line 9 $131,651 Change in value of split interest agreements; rounding -$3 Moravian College Housing Inc 1200 Main Street Bethlehem PA 18018 260466209 to provide housing and classroom space PA 501 (c)(3) 9 Moravian College 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 Moravian College Housing Inc a-i 40000 Accrual Moravian College Housing Inc k 50279 Actual Moravian College Housing Inc q 275000 Actual Additional time was required for completion and governance review per stated procedures.