2019-08-06T13:49:58-05:00 2017-12-31 990 2017-01-01 231352008 The American College AMER 6105261000 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 Yi Tang Chief Financial & Risk Officer 6105261308 2019-08-06 174.201.16.63 2019-08-06 14:49:39 ED P 756EE4E4A7642B128FC6EB7CE6E6003639A3990A 756EE4E4A7642B128FC6EB7CE6E6003639A3990A 2017 2019-02-21 02:37:17Z The American College of Financial Services George Nichols III 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 46160479 0 X www.theamericancollege.edu X 1927 PA The mission of The American College of Financial Services is to raise the level of professionalism in financial services by promoting ongoing education, ethical practices, and the pursuit of new knowledge for the benefit of society. 46 45 236 0 0 0 1774771 3418124 27547078 21458755 3541537 1250497 1220822 2624932 34084208 28752308 250734 371112 0 0 23699948 22824271 111990 114766 2077342 16794031 16142345 40856703 39452494 -6772495 -10700186 58797202 69579845 9372738 24330254 49424464 45249591 X The mission of The American College of Financial Services is to raise the level of professionalism in financial services by promoting ongoing education, ethical practices, and the pursuit of new knowledge for the benefit of society. 0 0 23462486 210190 17018976 The Huebner School administers the curriculum leading to the CLU, ChFC, RICP, CLF, and ChSNC professional designations. The WMCP professional designation in wealth management was added in December 2017. It also provides the educational content needed to obtain the CFP professional designation. There are approximately 14,100 students enrolled in these programs. 1942171 4722 1267092 The FSCP Program administers the curriculum leading to the FSCP professional designation. There are approximately 2,100 students enrolled in this program. 4611549 156200 2932062 The Irwin Graduate School administers the curriculum leading to the Master of Science in Management, the Master of Science in Financial Services, the Chartered Advisor in Philanthropy (CAP) designation, and the Doctoral Program in Financial and Retirement Planning. There are approximately 900 students enrolled in these programs. 446465 240625 The College's Customized Corporate Consulting Center provides customized training and education to client companies in the financial services arena utilizing its full-time and adjunct faculty and state-of-the-art learning center to make their employees better educated and more productive. 446465 240625 30462671 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 169 0 1 236 1 0 0 0 0 0 0 0 0 0 0 X 46 45 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CO KY MD MA MI NH NY OH OK OR WA X John G Wells 6105261510 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 Andrew G Aiello Trustee 1.00 X 0 0 0 David M Anderson Trustee 1.00 X 0 0 0 Daralee S Barbera Trustee 1.00 X 0 0 0 Wendy A Benson Trustee 1.00 X 0 0 0 Scott L Berlin Trustee 1.00 X 0 0 0 Lee V Bethel Trustee 1.00 X 0 0 0 Andrew J Bucklee Trustee 1.00 X 0 0 0 James J Carbone Trustee 1.00 X 0 0 0 Ron Carson Trustee 1.00 X 0 0 0 Anurag Chandra Trustee 1.00 X 0 0 0 George I Connolly Trustee 1.00 X 0 0 0 J Scott Davison Trustee 1.00 X 0 0 0 Anthony J Domino Trustee 1.00 X 0 0 0 Michael Doughty Trustee 1.00 X 0 0 0 Caroline Feeney Trustee 1.00 X 0 0 0 Randall H Harbert Trustee 1.00 X 0 0 0 Thomas H Harris Trustee 1.00 X 0 0 0 John M Howard Trustee 1.00 X 0 0 0 Gary T Huffman Trustee 1.00 X 0 0 0 Fred H Jonske Trustee 1.00 X 0 0 0 Kevin M Kimbrough Trustee 1.00 X 0 0 0 Paul A LaPiana Trustee 1.00 X 0 0 0 Anne Long Trustee 1.00 X 0 0 0 James J Meehan Trustee 1.00 X 0 0 0 James A Mitchell Trustee 1.00 X 0 0 0 Linda S Need Trustee 1.00 X 0 0 0 Knut A Olson Trustee 1.00 X 0 0 0 Tina M Perrino Trustee 1.00 X 0 0 0 Robert B Plybon Trustee 1.00 X 0 0 0 Ron L Ransom Trustee 1.00 X 0 0 0 Tom Robinson Trustee 1.00 X 0 0 0 M Michael Rooney Trustee 1.00 X 0 0 0 Michael Rosenzweig Trustee 1.00 X 0 0 0 Albert J Schiff Trustee 1.00 X 0 0 0 Robert D Shapiro Trustee 1.00 X 0 0 0 Clara Shih Trustee 1.00 X 0 0 0 Frederick J Sievert Trustee 1.00 X 0 0 0 Jon S Stenberg Trustee 1.00 X 0 0 0 Scott Stolz Trustee 1.00 X 0 0 0 Westley V Thompson Trustee 1.00 X 0 0 0 Thomas P Tooley Trustee 1.00 X 0 0 0 Leo C Tucker Trustee 1.00 X 0 0 0 Steven J Valerius Trustee 1.00 X 0 0 0 Michael J Vietri Trustee 1.00 X 0 0 0 Mary A Weiss Trustee 1.00 X 0 0 0 Robert J Wernecke Trustee 1.00 X 0 0 0 Doyle J Williams Trustee 1.00 X 0 0 0 Robert J Johnson President & CEO 39.00 1.00 X 563010 0 28873 Keith Hickerson Chief Operating Officer 40.00 X 379791 0 19636 Yi Tang Chief Financial & Risk Officer 39.00 1.00 X 247630 0 17157 Charles T Cronin Senior Vice President - Advancement 39.00 1.00 X 178660 0 12019 Deborah Glenn Chief Human Resources Officer 40.00 X 231054 0 15627 Edward McEvoy Chief Technology Officer 40.00 X 259084 0 16642 Michael Finke Chief Academic Officer 40.00 X 310202 0 15342 Sophia Duffy Academic Dean 40.00 X 173193 0 19464 Bryan Johnson Vice President Organizational Effectiveness 40.00 X 166700 0 22737 David Eurich Vice President Product Inovation 40.00 X 197383 0 9800 Brian Kain Vice President Student Experience 40.00 X 158758 0 17363 Jack Hondros - thru 617 Chief Marketing Officer 40.00 X 253570 0 19192 Peter Frisko Chief Advancement Officer 39.00 1.00 X 120402 0 5347 Jamie Hopkins Associate Professor, Taxation 40.00 X 246338 0 13690 Glenn Boseman Professor of Leadership 40.00 X 238530 0 20419 David Littell Professor of Taxation 40.00 X 223220 0 17703 Wade Pfau Professor of Retirement Income 40.00 X 221267 0 16808 Phillip Cubeta Assistant Professor, Philanthropy 40.00 X 206889 0 14034 Neal Fegely Former Chief Financial Officer 0.00 X 141745 0 0 4517426 0 301853 54 1 1 0 The Regis Company LLC 600 12th Street Golden CO 80401 Course Design Services 786964 Sloan & Company 7 Times Square Tower New York NY 10036 Public Relations Consulting 317017 Stratus Interactive LLC 144 East Market Street West Chester PA 19382 Marketing Consulting 249516 Dechert LLP PO Box 7247-6643 Philadelphia PA 191706643 Legal Counsel 171838 Mercer INC PO Box 13793 Newark NJ 071880793 Investment/Actuarial Consulting 128886 5 232592 3185532 117890 3418124 Solomon S. Huebner Sch 611310 17018976 17018976 Richard D. Irwin Gradu 611310 2932062 2932062 FSCP Program 611310 1267092 1267092 Integrated Learning Pl 611310 240625 240625 21458755 947333 947333 73867 0 73867 73867 73867 17629325 17326161 303164 303164 303164 23290 232592 82010 -58720 -58720 Knowledge Summit Regis 611310 923369 923369 Other Miscellaneuos In 611310 704703 704703 Professional Recertifi 611310 670465 670465 311248 311248 2609785 28752308 24068540 0 1265644 371112 371112 3373141 1550811 1532756 289574 15320493 12661569 2060589 598335 23826 23826 2791423 3576826 -984483 199080 1315388 1315388 339571 208719 130852 75690 75690 114766 114766 80680 80680 1841283 1596715 58707 185861 1020579 935992 19744 64843 966707 360563 595307 10837 1124615 1094292 30323 5382 5382 1947337 1578870 226749 141718 824211 637015 131387 55809 4387507 3905288 365495 116724 78405 78405 1410834 1134339 170151 106344 405881 5203 222279 178399 Printing and Publicatio 638073 637278 710 85 Bank Service Charges 385919 1925 383744 250 Professional Developmen 169840 41751 126434 1655 Library Services 124843 119019 2810 3014 314988 40002 264938 10048 39452494 30462671 6912481 2077342 2458224 2318351 3240073 3539699 2053561 1534314 412965 236691 542848 556629 40102010 19363467 3070932 20738543 43818324 36470976 1000 1000 3199275 4183642 58797202 69579845 5308967 5861930 1091346 2450481 2972425 16017843 9372738 24330254 X 32594911 29219704 16829553 16029887 49424464 45249591 58797202 69579845 X -10700186 3674253 2851060 X 0 1 X 1 0 X 0 0 0 10000000 10000000 10000000 10000000 40000000 60000000 971 0 0 0 971 250000 250000 250000 250000 1000000 1500000 63416853 1706221 7943519 4986994 68079599 58847567 2580444 3460651 1471809 63416853 52954618 8759660 -837681 2029030 58847567 49808428 2977808 1120383 952001 52954618 43310907 3540277 3952710 995466 49808428 0.37050 0.46590 0.16360 0 1 1 7976047 7976047 10008806 128668 9880138 4934608 4257759 676849 15647079 14669164 977915 1535470 307876 1227594 20738543 Life insurance cash values 4183642 4183642 Accrued pension costs 1896282 Annuity obligations 47736 Capital lease obligation 73825 Loan Payable to the American College Foundation (23-3015130) 14000000 16017843 X 34479161 3674253 2052600 5726853 28752308 0 28752308 39452494 0 39452494 0 39452494 Part V, Line 4: Endowment funds are solicited and managed by the American College Foundation - EIN 23-3015130 - in support of the mission of the American College subject to donor/fund restrictions. Part X, Line 2: The Internal Revenue Service has classified The American College and the Foundation as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code ("Code"); as organizations, contributions to which are deductable under Section 170(c) of the Code; and as organizations that are not private foundations as defined in Section 509(a) of the Code. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken and recognize a tax liability, if the College has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax position taken by the College and has concluded that as of December 31, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The College recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax related interest and penalties recorded for either of the years ended December 31, 2017 or 2016. Part XI, Line 2d - Other Adjustments: Transfers from The American College Foundation EIN 23-3015130 1971361. Net increase in life insurance cash surrender value 81239. 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The non-discrimination policy is published in our brochures, on our admission and matriculation forms, and appears on the College's website as part of its privacy policy. Schedule E, Part I, Line 4 The American College neither requests nor requires ethnic or gender information from students who are matriculating or enrolling for courses at the graduate or designation level. The American College neither requests nor requires ethnic or gender information from students who are applying for scholarships to its graduate or designation programs. X X X X X 0 TSM Donor Engagement Team Inc 155 Commerce Drive Freedom PA 15042 Phone solicitation 0 104361 186893 -82532 Harris Connect 1511 Rt 22 - Suite C-25 Brewster NY 10509 Phone solicitation 0 0 1832 -1832 104361 188725 -84364 AL AK AZ AR CO CT FL GA HI IL KS KY LA MN MD ME MA MI MO MS NH NM NJ NY NC ND OH OK OR PA RI DC TN UT VA WA WV WI CA Veteran's Center Clambake 255882 232592 23290 4450 20500 55335 2075 255882 232592 23290 4450 20500 55335 2075 82360 -59070 0 Tuition assistance 404 371112 Part I, Line 2: The funds awarded to the students are disbursed directly to the College as the student enrolls in courses. X X 1 1 X X X X 1 1 0 1 0 1 0 0 0 Robert J Johnson President & CEO 475311 0 0 0 87699 0 13968 0 14905 0 591883 0 0 0 Keith Hickerson Chief Operating Officer 324908 0 0 0 54883 0 13831 0 5805 0 399427 0 0 0 Yi Tang Chief Financial & Risk Officer 220591 0 20000 0 7039 0 10989 0 6168 0 264787 0 0 0 Charles T Cronin Senior Vice President - Advancement 157911 0 0 0 20749 0 11181 0 838 0 190679 0 0 0 Deborah Glenn Chief Human Resources Officer 201460 0 20000 0 9594 0 10018 0 5609 0 246681 0 0 0 Edward McEvoy Chief Technology Officer 195526 0 15000 0 48558 0 15600 0 1042 0 275726 0 0 0 Michael Finke Chief Academic Officer 265713 0 20000 0 24489 0 12639 0 2703 0 325544 0 0 0 Sophia Duffy Academic Dean 165446 0 0 0 7747 0 5965 0 13499 0 192657 0 0 0 Bryan Johnson Vice President Organizational Effect 160429 0 0 0 6271 0 12800 0 9937 0 189437 0 0 0 David Eurich Vice President Product Inovation 170458 0 15000 0 11925 0 8892 0 908 0 207183 0 0 0 Brian Kain Vice President Student Experience 149437 0 0 0 9321 0 11923 0 5440 0 176121 0 0 0 Jack Hondros - thru 617 Chief Marketing Officer 110318 0 0 0 143252 0 11507 0 7685 0 272762 0 0 0 Peter Frisko Chief Advancement Officer 96412 0 12000 0 11990 0 4519 0 828 0 125749 0 0 0 Jamie Hopkins Associate Professor, Taxation 180484 0 6000 0 59854 0 9675 0 4015 0 260028 0 0 0 Glenn Boseman Professor of Leadership 188790 0 0 0 49740 0 15063 0 5356 0 258949 0 0 0 David Littell Professor of Taxation 206301 0 0 0 16919 0 16450 0 1253 0 240923 0 0 0 Wade Pfau Professor of Retirement Income 194535 0 0 0 26732 0 9701 0 7107 0 238075 0 0 0 Phillip Cubeta Assistant Professor, Philanthropy 200047 0 0 0 6842 0 12968 0 1066 0 220923 0 0 0 Neal Fegely Former Chief Financial Officer 0 0 0 0 141745 0 0 0 0 0 141745 0 0 0 Part I, Line 1a The Executive Committee of the Board has authorized the President to travel first class air on trips over four hours. The President & CEO's spouse accompanies him on trips to Board meetings and other events where she entertains trustee spouses, holding breakfasts, lunches, and leading tours and other outings. The President & CEO must obtain approval from the Board chairman each time his spouse accompanies him. Part I, Line 3 The College's Compensation Committee, composed of Board members, determines the base compensation and annual incentive award of the President & CEO. They also review and approve the President & CEO's recommendations for other members of the College's senior leadership team. The award amounts are tied to individual performance and based on a qualitative evaluation of the accomplishment of goals that are determined at the beginning of the year. Part I, Lines 4a-b Jack Hondros, Chief Marketing Officer received base salary of $220,318 including $110,000 of severance in the form of salary continuation. Neal R. Fegely, former Chief Financial & Risk Officer received a $141,745.41 payout from his 457b plan. Part I, Line 5 Under The College's former long-term incentive plan (LTIP), which covered the period 2014-2015, the first of two payments was made to three participants (the former Executive Vice President/Chief Operating Officer, former Chief Marketing Officer, and the current Chief Technology Officer) in February, 2017. The second of two payments for the LTIP covering the same period (2014-2015) was made in February, 2018 to three participants (the President & CEO, EVP/Chief Operating Officer, and Chief Technology Officer). Although there is an LTIP in place that covers the period 2016-2018, with the first pay-out scheduled for January, 2019 for participants employed through December, 2018; the stated goals (increased revenue and students served) have not been met and pay-outs are not planned. Part I, Line 6 Under The College's former long-term incentive plan (LTIP), which covered the period 2014-2015, the first of two payments was made to three participants (the former Executive Vice President/Chief Operating Officer, former Chief Marketing Officer, and the current Chief Technology Officer) in February, 2017. The second of two payments for the LTIP covering the same period (2014-2015) was made in February, 2018 to three participants (the President & CEO, EVP/Chief Operating Officer, and Chief Technology Officer). Although there is an LTIP in place that covers the period 2016-2018, with the first pay-out scheduled for January, 2019 for participants employed through December, 2018; the stated goals (increased revenue and students served) have not been met and pay-outs are not planned. Alvarez & Marsal Trustee Albert J. Schiff is an officer of the firm 5887 The firm was engaged as a result of an open bid process to perform compensation consulting services. 0 Lovasco Consulting Group Inc Partner is member of The American College Foundation Board 65000 Lovacso Consulting Group performs benefit consulting and administration services for the College. 0 X 2 117890 Daily pricing on NYSE 0 1 0 Form 990, Part VI, Section B, line 11b The Form 990 is completed by Finance staff and reviewed by the Chief Finance & Risk Officer for accuracy and completeness. It is then reviewed by the College's independent auditors and legal counsel. Once these steps are completed, it is presented to the College's Board of Trustees for their review. This process involves sending the completed Form electronically and a scheduled conference call with Board members to review the Form and address any questions prior to filing. Form 990, Part VI, Section B, line 12c All members of the College's Board of Trustees and defined administrative employees are required to complete the conflict of interest form annually. The returned forms are tabulated to ensure 100% response. The results of the responses are communicated to the Audit & Risk Committee by the Chief Financial & Risk Officer. Any positive responses are reviewed by the Audit & Risk Committee and independent auditors and appropriate action is recommended. Form 990, Part VI, Section B, line 15 The College has a relationship with an independent compensation consultant who provides information as requested by the Compensation Committee for deliberation. Annually, the Compensation Committee will approve the compensation of the President & CEO and select leadership staff with input from the independent consultant. The President & CEO will recommend and obtain Board (Compensation Committee) approval for the compensation for the key employees/disqualified persons. Historically, the data is compared with data provided by the compensation consultant. If there are any concerns, the Committee would contact the compensation consultant. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Form 990, Part XI, line 9: Transfers from The American College Foundation EIN 23-3015130 1971362. Decrease in minimum pension liability 798461. Increase in life insurance cash surrender value 81237. The American College Foundation 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 233015130 Solicit and manage funds for the benefit of The American College PA 501(c)(3) Line 12a, I The American College 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1