2018-05-10T10:46:31-07:00 2017-06-30 990 2016-07-01 042103578 THE TRUSTEES OF MOUNT HOLYOKE COLLEGE TRUS 4135383674 50 College Street South Hadley MA 01075 Ellen Rutan Comptroller 4135382713 2018-05-10 2016 2022-09-23 18:48:47Z Mount Holyoke College Sonya Stephens 50 College Street South Hadley MA 01075 289814182 0 X www.mtholyoke.edu X 1836 MA The mission of Mount Holyoke College is to provide an intellectually adventurous education in the liberal arts and sciences through academic programs recognized internationally for their excellence and range; to draw students from all backgrounds into an exceptionally diverse and inclusive learning community with a highly accomplished, committed, and responsive faculty and staff; to continue building on the College's historic legacy of leadership in the education of women; and to prepare students, through a liberal education integrating curriculum and careers, for lives of thoughtful, effective, and purposeful engagement in the world. 31 29 3226 1396 440771 -156793 59377192 27899461 106272005 113634806 6805080 38376743 19199928 20421324 191654205 200332334 49587122 52771787 0 0 85436643 85579744 0 0 7305159 55925291 57271892 190949056 195623423 705149 4708911 971834865 1030415092 201002209 196249640 770832656 834165452 Mount Holyoke College is a highly selective, nondenominational, residential, research liberal arts college for women. The College's long, distinguished history of educating leaders arises from a powerful combination of academic excellence in a global learning environment. As the first of the Seven Sisters-the female equivalent of the once predominantly male Ivy League-Mount Holyoke has led the way in women's education, preparing students for purposeful engagement in the world. 0 0 132146035 52771787 108357376 *Instruction, Research, Academic Support and Library Services* Mount Holyoke College enrolls approximately 2,200 undergraduate students who benefit from small group instruction in a diverse college community with a student-to-faculty ratio of 9 to 1. Mount Holyoke's 200 accomplished faculty members are innovative teachers dedicated to their students. They are also active scholars, research scientists, and creative artists passionate about their disciplines. The College offers 50 departmental and interdepartmental majors. Through the liberal arts education, students explore art, literature, languages, philosophy, politics, history, mathematics and science rather than choosing one specialized track of study. The liberal arts also transcend the classroom. Students gain a complex understanding of the world in which they live through internships, study abroad, community-based learning, volunteer work and independent research. In addition to its undergraduate program, the College, through its division of Professional and Graduate Education (PAGE), offers a range of graduate degree programs, institutes, and courses to support emerging leaders, scientists and educators who want to increase their scope of impact in their respective fields. An integral part of the college community, Library and Information Technology Services facilitates the creative use of information and technology. It supports the educational priorities of the College by providing instruction, materials, staff expertise and equipment to sustain learning, teaching, research and the College's administrative functions. 28721466 13444137 *Student Services and Residential Life* Engagement, peer mentorship and self governance are the foundations of Mount Holyoke's residential program. To this end, most residence halls house members of all four classes along with vibrant Living-Learning Communities, including a residence hall dedicated exclusively to the enhancement of the first year experience. The College offers housing in many configurations to meet the developing needs of students. Each residence hall is unique in design and character. Along with being committed to academic success, Mount Holyoke cares about the overall well being of students. The College offers a range of health, counseling and public safety services to support the needs of its students. The Office of Student Programs supports more than 100 student organizations and presents a wide array of cultural, entertainment and social events, in addition to advising on event planning, new ideas, leadership skills and general student organization dynamics. 9073295 11696953 *Dining Services* At Mount Holyoke College, dining is an integral part of a student's educational experience. Students meet at mealtimes in friendly conversation, often with faculty as their invited guests. This hospitality and exchange is an important tradition on campus. Dining Services is responsible for administering a comprehensive board program in six residential dining locations, the Kendade Atrium Cafe, and the campus café, and is responsible for all campus center cash operations, vending, a bakery, and a warehouse. The qualified and experienced culinary production and service staff are committed to providing high quality and nutritious food in all dining operations. 0 0 0 169940796 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 1 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 2587 0 1 3226 1 1 1 1 CJ FR 0 0 0 1 1 0 0 0 0 X 31 29 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA X X Ellen Rutan - Comptroller 4135382713 50 College St South Hadley MA 01075 Barbara Baumann Chair, Board of Trustees 8 0.1 X 0 0 0 Casey Accardi Trustee 2 0.1 X 0 0 0 Jeanne E Amster Trustee 4 0.1 X 0 0 0 Ann Blake Alumna Trustee 2 0.1 X 0 0 0 Catherine Burke Alumna Trustee 2 0.1 X 0 0 0 Debra Martin Chase Trustee 2 0.1 X 0 0 0 Katherine E Collins Trustee 6 0.1 X 0 0 0 Carrianna Field Alumna Trustee 2 2.1 X 0 0 0 Ellen J Flannery Trustee 4 0.2 X 0 0 0 Elizabeth Cochary Gross Trustee 2 0.1 X 0 0 0 Heather Harde Trustee 2 0.1 X 0 0 0 Rhynette Hurd Alumna Trustee 2 0.1 X 0 0 0 Marcia Kropf Alumna Trustee 4 35.1 X 0 0 0 Mindy McWilliams Lewis Vice Chair, Board of Trustees 4 0.1 X 0 0 0 Chau Ly Trustee 2 0.1 X 0 0 0 David Mahoney Trustee 2 0.1 X 0 0 0 Natasha Mohanty Trustee 2 0.1 X 0 0 0 Ellen Hyde Pace Trustee 2 0.1 X 0 0 0 Elizabeth A Palmer Trustee 6 0.1 X 0 0 0 Jennifer Rochlis Trustee 2 0.1 X 0 0 0 Karena Strella Trustee 4 0.1 X 0 0 0 Mona Sutphen Trustee 2 0.1 X 0 0 0 Kaitlyn Szydlowski Trustee 2 0.1 X 0 0 0 Michelle Toh Trustee 2 0.1 X 0 0 0 Louise Wasso Trustee 4 0.1 X 0 0 0 Elizabeth Weatherman Trustee 4 0.1 X 0 0 0 Sherrie Westin Trustee 2 0.1 X 0 0 0 Elizabeth Wharff Alumna Trustee 2 0.1 X 0 0 0 David Wilson Trustee 2 0.1 X 0 0 0 Sarah Xefos Trustee 2 0.1 X 0 0 0 Sonya Stephens Acting President 40 1.0 X X 369092 0 54666 Jon Western VP for Academic Affairs & Dean of Faculty 40 0 X 157389 0 37706 Shannon D Gurek VP for Finance & Administration & Treasurer 40 1.0 X 258605 0 45575 Kassandra Jolley Vice President for Advancement 40 0 X 262825 0 38086 Christine Hutchins VP for Marketing & Communications 40 0 X 200646 0 40764 Marcella Runell Hall VP for Student Life & Dean of Students 40 0 X 135656 0 42625 Lenore Reilly Secretary of the College 40 1 X 149678 0 23248 Gail Berson VP for Enrollment & Dean of Admission 40 0 X 222429 0 36443 Eva Paus Professor of Economics & Dir of Ctr for Global Initiatives 40 0 X 177152 0 38894 Alexander Wirth-Cauchon CIO & Executive Director of Library Information & Technology Services 40 0 X 186059 0 27279 Eugene Hill Professor of English 40 0 X 208787 0 0 Lynn Pasquerella Former President 40 0 X 291078 0 17924 Cerri Banks Former VP for Student Affairs & Dean of the College 40 0 X 208824 0 25682 Christopher Benfey Former VP for Academic Affairs & Dean of Faculty 40 0 X 155839 0 35996 Sarah Sutherland Former Secretary of the College 40 0 X 116146 0 21006 3100205 0 485894 129 1 1 0 Bergmeyer Associates Inc 51 Sleeper Street Boston MA 02210 Architectural Design 2176893 Cambridge Associates LLC 100 Summer Street Boston MA 021102112 Investment Consulting 965000 Cedar Rock Capital Partners LLC 11 Broadway Suite 965 NY NY 10019 Investment Management 347794 Atlas Venture Fund 400 Technology Square 10th FL Cambridge MA 02139 Investment Management 346056 Silchester International Investors 780 Third Ave Fl 42 NY NY 10017 Investment Management 336329 25 0 0 13435 0 4512062 23373964 4580361 27899461 Tuition and Fees 611310 100264275 100264275 0 0 Room and Other Board 611310 13345626 13345626 0 0 Educational Performances 611310 24905 24905 0 0 0 0 0 0 113634806 13910195 0 -276901 14187096 113021 0 0 113021 4550 0 0 4550 558126 0 376136 0 181990 0 181990 0 0 181990 110535547 771 86182791 0 24352756 771 24353527 0 347612 24005915 6990 13435 5926 1064 0 1064 14842504 2916995 11925509 11795465 130044 0 Educational Conferences 721000 959556 762240 197316 0 Public Safety Collaborative 611310 2546653 2546653 0 0 4802002 4759302 42700 0 8308211 200332334 133498466 440771 38493636 409463 409463 40717523 40717523 11644801 11644801 2479827 798795 1346139 334893 62425871 55689921 4089789 2646161 6456807 5760117 422921 273769 9627102 8588338 630575 408189 4590137 4094861 300654 194622 631194 302759 230098 98337 181112 27357 153755 225825 1250 224575 6611070 6611070 5535246 4293922 1128682 112642 79394 44527 25518 9349 5304564 4496943 573305 234316 1173443 604753 566983 1707 7226 7210 16 3711762 3553546 68346 89870 1695222 1326226 180994 188002 303548 235522 54765 13261 5540359 5344530 76913 118916 495829 294397 149414 52018 10641032 10279157 141734 220141 3102083 2443285 649944 8854 Allocated Expenses 0 298504 -298504 Public Safety Collaborative Expenses 2490438 2490438 0 Alumnae Association Support 2178179 0 0 2178179 7364366 6192651 1049782 121933 195623423 169940796 18377468 7305159 32688562 57888049 25878144 20980722 2148599 2384728 246205 241393 811436 887962 3584714 2564367 408679379 228379743 168624388 180299636 79654745 74930819 603762824 650139514 18237332 17188827 36197916 22909075 971834865 1030415092 10744307 14086615 1319990 2096697 127944728 127247364 60993184 52818964 201002209 196249640 X 119365438 135481134 353120332 392786844 298346886 305897474 770832656 834165452 971834865 1030415092 X 4708911 53872817 0 0 0 4751068 X 0 1 X 1 1 1 X 32261711 31201331 26816781 59377192 27899461 177556476 0 0 0 0 0 0 0 0 32261711 31201331 26816781 59377192 27899461 177556476 9131442 168425034 16491701 18678782 5847935 6981924 14862793 62863135 0 0 42198 0 42198 14414990 13585210 14119224 13917952 14842504 70879880 311341689 577005365 0.54097 0.53661 X Schedule A, Part II, Line 10 Other income includes gross sales of inventory. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5000 5000 0 Schedule C, Part II-B, Line 1 The College pays membership dues to organizations that address state and federal regulatory issues for the collective benefit of member institutions. The organizations notify the College of the approximate amount of membership dues used for lobbying expense. 487118 15357447 0 0 X X X X 0 667564847 5998824 91894441 12081547 15361432 8577036 729438097 703010972 19587426 -11635853 11809408 22873279 8715011 667564847 713514514 6994177 23644106 11486690 21890807 7764328 703010972 638551662 9389782 104887988 10435055 18937619 9942244 713514514 594045152 11856126 72624207 8448417 22588075 8937331 638551662 0.15 0.39 0.46 0 0 0 27608738 27608738 0 153181046 65282132 87898914 0 89637215 54431515 35205700 0 63345679 59257865 4087814 0 74906701 49408231 25498470 180299636 Fixed Income Mutual/Comingled Funds 9915758 F Equity Mutual/Comingled Funds 287946482 F Hedge Funds 179509724 F Inflation Hedging 57647333 F Debt Related 15171907 F Venture Capital 96975294 F Other 2973016 F 650139514 Interest Rate Swap Liability 12255316 FAS 158 Pension Liability 4592810 FIN 47 Conditional Asset Retirement Obligation 11441165 457(b) Pension Liability 251314 Refundable Government Advances 4701701 Split Interest Obligation 19576658 52818964 X 259134900 53872817 0 0 1653478 55526295 203608605 0 -3276271 -3276271 200332334 195785925 0 0 0 7126704 7126704 188659221 6964202 0 6964202 195623423 Schedule D, Part III, Line 4 The College maintains more than 24,000 works of art from antiquity to the present that comprise the permanent collection of the Mount Holyoke College Art Museum. Particular strengths within this collection include ancient Mediterranean art and artifacts, paintings, sculpture, and decorative art from Europe and the United States, and modern and global contemporary art. Categories of significant depth include photography, glass, ceramics, prints and drawings, and numismatics. This culturally and chronologically diverse collection is an important teaching and learning resource for faculty and students in all disciplines, and serves as a major cultural resource for area schools and the general public. Dedicated to providing firsthand experiences with works of significant aesthetic and cultural value, the Museum develops exhibitions that aim to provide aesthetic enjoyment, stimulate inquisitive looking and encourage understanding of artistic achievements across a diversity of cultures and time periods. Selected works of art are installed in the Art Museum's ten galleries and reception hall on a rotating basis and the Museum produces three to four special exhibitions each year in addition to its display of works from the permanent collection. The Museum integrates its collections, exhibitions and scholarly research with the curriculum of the College and the interests of the general public. Schedule D, Part V, Line 1f Line 1f of Part V includes an adjustment of -1,612,834. This adjustment was needed to agree the end of year endowment fund balance to the audited financial statements. The reason for the difference is due to the College no longer reporting annuities in the Endowment section of the audited financial statements. Schedule D, Part V, Line 4 Mount Holyoke's endowment consists of more than 1,700 individual funds established for a variety of purposes, including both donor restricted endowment funds and funds designated by the College to function as endowments. About 25% of the endowment income used to support the College's operations is unrestricted. Most of the endowed funds contain specific restrictions for the support of critical functions such as financial aid for students with demonstrated need, faculty salaries, library purchases, student and faculty research, internships and departmental programming. Endowment income provides approximately 26% of the College's annual operating budget revenues. Schedule D, Part X, Line 2 The College is a tax exempt organization as described in Section 501(c)(3) of the Internal Revenue Code and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The College assesses uncertain tax positions and determined that there were no such positions that have a material effect on the financial statements for the year ended June 30, 2017. Schedule D, Part XI, Line 2d Other includes Willits Hallowell Center revenue of 1,809,481, change in value of split interest agreements of 1,944,815, endowment expenses of -6,964,202, change in FAS pension obligation of 1,648,271, and change in value of interest rate swaps of 3,215,113. Schedule D, Part XI, Line 4b Other includes cost of goods sold of -2,916,995, fundraising expenses of -5,925, and faculty housing expenses of -353,351. Schedule D, Part XII, Line 2d Other includes Willits Hallowell Center expenses of 1,919,285, cost of goods sold of 2,916,995, fundraising expenses of 5,925, faculty housing expenses of 353,351, and loss on debt refinancing of 1,931,148. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The College follows a nondiscriminatory policy toward students, faculty and staff, and with regard to students, includes this policy in most brochures and catalogues pertaining to student admissions, programs and scholarships. Mount Holyoke College has approximately 2,200 students who hail from 48 states and 57 countries. The College demonstrates its commitment to diversity by enrolling students of minority groups in meaningful numbers. The racially diverse student body consists of approximately 26% who are international citizens. Out of domestic students, 27% identify as African American, Native American, Asian, Latina or multiracial. Schedule E, Part I, Line 6 The College receives federal grants for faculty research and student scholarships. 1 Central America and the Caribbean Program Services Grant Aid 83739 Central America and the Caribbean Program Services Study Abroad 95336 Central America and the Caribbean Program Services Research 6119 Central America and the Caribbean Investments 192890470 East Asia and the Pacific Program Services Grant Aid 4339290 East Asia and the Pacific Program Services Study Abroad 57126 East Asia and the Pacific Program Services Research 10131 East Asia and the Pacific Program Services Recruitment 28592 East Asia and the Pacific Fundraising Alumnae Meetings 21818 Europe (including Iceland and Greenland) Program Services Grant Aid 636261 Europe (including Iceland and Greenland) 1 1 Program Services Study Abroad 293948 Europe (including Iceland and Greenland) Program Services Research 101463 Europe (including Iceland and Greenland) Program Services Recruitment 5897 Europe (including Iceland and Greenland) Fundraising Alumnae Meetings 37953 Europe (including Iceland and Greenland) Investments 4581621 Middle East and North Africa Program Services Grant Aid 507157 Middle East and North Africa Program Services Research 780 Middle East and North Africa Program Services Recruitment 2811 Middle East and North Africa Fundraising Alumnae Meetings 3824 North America (including Canada and Mexico, but not the United States) Program Services Grant Aid 85379 North America (including Canada and Mexico, but not the United States) Program Services Research 115346 North America (including Canada and Mexico, but not the United States) Program Services Recruitment 1918 North America (including Canada and Mexico, but not the United States) Fundraising Alumnae Meetings 1931 Russia and the newly independent States Program Services Grant Aid 330431 Russia and the newly independent States Program Services Research 4857 Russia and the newly independent States Program Services Recruitment 4674 South America Program Services Grant Aid 49116 South America Program Services Research 6894 South America Program Services Recruitment 3806 South Asia Program Services Grant Aid 3786660 South Asia Program Services Recruitment 48419 South Asia Fundraising Alumnae Meetings 8198 Sub-Saharan Africa Program Services Grant Aid 1738271 Sub-Saharan Africa Program Services Research 12273 Sub-Saharan Africa Fundraising Alumnae Meetings 3706 1 1 209906215 North America (including Canada and Mexico, but not the United States) Sub-award for grant research 88497 Check 1 0 Financial Assistance Central America and the Caribbean 2 83739 Account Credit Financial Assistance Europe (including Iceland and Greenland) 19 636261 Account Credit Financial Assistance East Asia and the Pacific 190 4339290 Account Credit Financial Assistance Middle East and North Africa 14 507157 Account Credit Financial Assistance North America (including Canada and Mexico, but not the United States) 4 85379 Account Credit Financial Assistance Russia and the newly independent States 11 330431 Account Credit Financial Assistance South America 1 49116 Account Credit Financial Assistance South Asia 111 3786660 Account Credit Financial Assistance Sub-Saharan Africa 52 1738271 Account Credit 1 0 1 1 1 1 Schedule F, Part I, Line 2 All financial aid grants and scholarships to students who are citizens of foreign countries are recorded in the financial aid management software, PowerFAIDS, by amount per semester. Student Financial Services staff determine student eligibility based on a consistently applied need analysis formula which calculates the expected family contribution (EFC). The EFC is subtracted from the total cost of attendance to equal the financial aid eligibility. The financial aid grant amount is determined based on consistently applied packaging formulas to meet the full calculated need of each student. In addition to the need based aid that the College awards, there are some grants that are awarded based on merit or other factors. Financial aid grant funds are monitored through the financial aid management software, PowerFAIDS. Staff who will be awarding financial aid grant funds are trained to adhere to these policies and procedures. The financial aid grant information is transferred from PowerFAIDS to the student information system, Ellucian Colleague, via a regularly scheduled interface. When all institutional grant disbursement requirements are met, the funds are disbursed to the student account in Colleague. The funds are credited against any billed charges that have been previously posted. If this transaction results in a credit balance, the credit may be refunded to the student in the form of a check. The student initiates this refund process by submitting a completed Disbursement Form or Credit Balance Request Form. Student eligibility is monitored throughout the period of enrollment and adjustments are made, as necessary, for changes in enrollment status according to the College's published refund policies. Friends of Athletics 20425 13435 6990 0 800 0 3802 0 1324 0 0 20425 13435 6990 0 800 0 3802 0 1324 5926 1064 1 University of Massachusetts 405 Goodell Building 140 Hicks Way Amherst MA 010039272 043167352 Government 501(c)(1) 193343 Sub-award for grant research University of New Hampshire 51 College Road Durham NH 03824 026000937 State government 20223 Sub-award for grant research Duke University Alumni and Development Records Box 90581 Durham NC 277080581 560532129 501(c)(3) 45596 Sub-award for grant research Bucknell University Office of Finance One Dent Drive Lewisburg PA 17837 240772407 501(c)(3) 19258 Sub-award for grant research Five Colleges Incorporated 97 Spring Street Amherst MA 010022324 046134696 501(c)(3) 49500 Support for the Five College Center for the Study of World Languages Town of South Hadley 116 Main Street South Hadley MA 01075 046001303 Local government 70000 Support for fire department capital equipment fund; support for initial phase of pedestrian trail project located in South Hadley; support for the Valley Bike Share project, which includes the South Hadley community and will serve students of Mount Holyoke College. WFCR Hampshire House Amherst MA 01003 046130523 501(c)(3) 11543 General support for local public radio station 7 0 Financial aid and fellowships for US citizens for tuition, room, and board expenses 1325 40717523 0 Schedule I, Part I, Line 2 All financial aid grants and scholarships to students who are United States citizens are recorded in the financial aid management software, PowerFAIDS, by amount per semester. Student Financial Services staff determine student eligibility based on a consistently applied need analysis formula which calculates the expected family contribution EFC. The EFC is subtracted from the total cost of attendance to equal the financial aid eligibility. The financial aid grant amount is determined based on consistently applied packaging formulas to meet the full calculated need of each student. In addition to the need based aid that the College awards, there are some grants that are awarded based on merit or other factors. Financial aid grant funds are monitored through the financial aid management software, PowerFAIDS. Staff who will be awarding financial aid grant funds are trained to adhere to these policies and procedures. The financial aid grant information is transferred from PowerFAIDS to the student information system, Ellucian Colleague, via a regularly scheduled interface. When all institutional grant disbursement requirements are met, the funds are disbursed to the student account in Colleague. The funds are credited against any billed charges that have been previously posted. If this transaction results in a credit balance, the credit may be refunded to the student in the form of a check. The student initiates this refund process by submitting a completed Disbursement Form or Credit Balance Request Form. Student eligibility is monitored throughout the period of enrollment and adjustments are made, as necessary, for changes in enrollment status according to the College's published refund policies. During the fiscal year, the College conducted grant-funded research. Four of the research grants included collaboration with institutions whose faculty are accomplished in their respective fields of study. Infrequently at the discretion of the President or Vice President for Finance and Administration, the College makes donations to support the town or nonprofit organizations. In these instances, the College generally does not monitor the ultimate use of the funds as these amounts are unrestricted grants to municipalities and organizations that are recognized as being described in Internal Revenue Code Section 501c3. In certain instances when the College grants funds for specified use by the town, the College maintains a written agreement that such grant will be used for the designated purpose. X X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 Sonya Stephens Acting President 322894 0 0 0 46198 0 27825 0 26841 0 423758 0 Jon Western VP for Academic Affairs & Dean of Faculty 157389 0 0 0 0 0 17256 0 20450 0 195095 0 Shannon D Gurek VP for Finance & Administration & Treasurer 258605 0 0 0 0 0 27630 0 17945 0 304180 0 Christine Hutchins VP for Marketing & Communications 200646 0 0 0 0 0 21635 0 19129 0 241410 0 Kassandra Jolley Vice President for Advancement 212825 0 0 0 50000 0 22750 0 15336 0 300911 0 Gail Berson VP for Enrollment & Dean of Admission 222429 0 0 0 0 0 25961 0 10482 0 258872 0 Marcella Runell Hall VP for Student Life & Dean of Students 135656 0 0 0 0 0 14810 0 27814 0 178280 0 Lenore Reilly Secretary of the College 149678 0 0 0 0 0 15902 0 7346 0 172926 0 Alexander Wirth-Cauchon CIO & Executive Director of Library Information & Technology Services 178059 0 0 0 8000 0 18977 0 8302 0 213338 0 Eva Paus Professor of Economics & Dir of Ctr for Global Initiatives 177152 0 0 0 0 0 19227 0 19667 0 216046 0 Eugene Hill Professor of English 0 0 0 0 208787 0 0 0 0 0 208787 0 Lynn Pasquerella Former President 275150 0 0 0 15928 0 13912 0 4012 0 309002 0 Cerri Banks Former VP for Student Affairs & Dean of the College 111405 0 0 0 97419 0 11804 0 13878 0 234506 0 Christopher Benfey Former VP for Academic Affairs & Dean of Faculty 155839 0 0 0 0 0 16930 0 19066 0 191835 0 Sarah Sutherland Former Secretary of the College 116146 0 0 0 0 0 12508 0 8498 0 137152 0 Schedule J, Part I, Line 1a The former President of the College and her spouse had domestic first class travel in calendar year 2016. The Acting President had one occasion in which she flew first class in 2016. This was due to an unexpected change in her return flight to make a required appearance at an event, causing her to be upgraded to first class since this fare class was all that was available from the original booking. *The College's Companion Travel Policy states that in occasional authorized circumstances the College will pay or reimburse for travel, meals and expenses of the spouse/partner of an officer. Specifically, while performing her official duties in the areas of advancement, alumnae relations and other business of the College, the President may be accompanied by her spouse/partner, who is expected to make an important contribution to achieving the purpose of the travel or events. In those cases, the College's policy is to authorize the payment of all travel and related expenses of the President's spouse/partner. Under the accountable travel plan of the College, all expenses must be documented and receipts provided. In addition, when companion travel is covered, the following conditions must be met in order to exclude travel costs from the taxable income of the employee: 1. The spouse/partner attends and contributes to the official function. 2. The purpose of the travel, the activities of the spouse/partner relating to College business and the expenses incurred are fully documented. Any spouse/partner travel other than that of the President must be approved, in advance, by the President. *The Board of Trustees recognizes the unique role the President and other senior administrators play in supporting alumnae and advancement activities, campus events, and other official functions. Accordingly, as a condition of employment and for the convenience of the College, College owned or leased housing is provided to the President, the Vice President for Student Life and the Dean of Students, and the former Dean of the College to fulfill these duties. Such housing provided to the President is approved by the Board of Trustees and housing provided to other senior administrators is approved by the President. For the President's house, the College provides custodial personnel and appropriate equipment and supplies necessary to keep the residence's appearance and cleanliness at acceptable standards. The cost for time spent cleaning the personal quarters of the President's house is included in the Form W-2 of the President. Schedule J, Part I, Line 3 For a description of the process used to determine the President's compensation, please refer to Schedule O, Part VI, Section B, Line 15. Schedule J, Part I, Line 4 Former Vice President for Student Affairs & Dean of the College, Cerri Banks, received a severance payment of $97,419 upon her termination of employment. This amount is included in reportable compensation in Part VII, and in other reportable compensation of Schedule J. Schedule J, Part II In March of 2014, the College offered a retirement incentive to eligible faculty members. One of the faculty members who took advantage of this plan, Eugene Hill, received his taxable retirement compensation during calendar year 2016, and this compensation is reported in Schedule J, Part II, Column B(iii) accordingly. A Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2008 043431814 57583RUS2 2008-03-27 40231354 Refund 2006 bond issue 1 0 0 B Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2011A and 2011B 043431814 57583UFU7 2011-06-09 76131942 To refund 2001 bond issue and to construct and improve campus facilities 0 0 0 C Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2011A and 2016A 043431814 000000000 2016-03-24 65305000 To reissue 2011A bond issue and to construct and improve campus facilities 0 0 0 D Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2016B 043431814 000000000 2016-11-30 33755000 To refund 2008 bond issue 0 0 0 A 7256354 30925000 40231354 0 0 0 456354 0 0 0 39775000 0 2008 1 0 1 1 B 10191942 0 76131942 0 0 0 569268 0 0 30418092 45144582 0 2014 1 0 1 1 C 0 0 65305000 0 0 0 238907 0 0 10632134 39305000 15128959 1 0 1 1 D 125000 0 33755000 0 0 0 226338 0 0 0 33528662 0 0 1 1 1 A 0 0 0 1 0 0 0.0036 0.0036 0 0 1 B 0 0 0 1 0 0 0.0035 0.0035 0 0 1 C 0 0 0 0 0 0.0011 0.0011 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 1 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part II, Line 3-03/24/2016 65,305,000 Massachusetts Development Finance Agency The Series 2011A bond was reissued on March 24, 2016 in the stated principal amount of $39,305,000, and the Series 2016A bond was issued in the stated principal amount of $26,000,000. The total of these two issues agree to the amount reported on Line 3 of Part II, Column C. Schedule K, Part II, Line 11-06/09/2011 76,131,942 Massachusetts Development Finance Agency $45,144,582 represents the portion of the bond used to refund the College's 2001 bond issue. The projects funded by the 2001 bond issue were substantially completed in 2004. Schedule K, Part III, Line 3c-03/27/2008 40,231,354 Massachusetts Development Finance Agency The College receives government grant funding for basic research for the advancement of scientific knowledge with no commercial objective. Some research takes place in campus facilities that were constructed or renovated using tax exempt bond proceeds; however, the College meets the safe harbor for reporting this research as not being private use. Schedule K, Part III, Line 3c-06/09/2011 76,131,942 Massachusetts Development Finance Agency The College receives government grant funding for basic research for the advancement of scientific knowledge with no commercial objective. Some research takes place in campus facilities that were constructed or renovated using tax exempt bond proceeds; however, the College meets the safe harbor for reporting this research as not being private use. Schedule K, Part III, Line 3d-03/27/2008 40,231,354 Massachusetts Development Finance Agency Management reviews all contracts related to bond financed facilities and has engaged bond counsel to review any agreements that are deemed significant. Schedule K, Part III, Line 3d-06/09/2011 76,131,942 Massachusetts Development Finance Agency Management reviews all contracts related to bond financed facilities and has engaged bond counsel to review any agreements that are deemed significant. Schedule K, Part IV, Line 2c-03/27/2008 40,231,354 Massachusetts Development Finance Agency The College contracted with a third party to prepare the February 28, 2017 rebate computation for the Series 2008 issue. Schedule K, Part IV, Line 2c-06/09/2011 76,131,942 Massachusetts Development Finance Agency The College contracted with a third party to prepare the June 9, 2017 rebate computations for the Series 2011A and 2011B issues. Schedule K, Part IV, Line 2c-03/24/2016 65,305,000 Massachusetts Development Finance Agency The College contracted with a third party to prepare the March 28, 2017 rebate computations for the Series 2011A and 2016A issues. Schedule K, Part IV, Line 2c-11/30/2016 33,755,000 Massachusetts Development Finance Agency The College contracted with a third party to prepare the November 30, 2017 rebate computation for the Series 2016B issue. Adage Capital Management Trustee's husband 432072 Investment Management Fees 0 Schedule L, Part IV The College has invested in Adage Capital Partners LP since October 2001. This investment was vetted by Cambridge Associates LLC, an independent advisory firm that performs due diligence and makes recommendations for investments. The husband of Trustee Elizabeth Cochary Gross is a partner at Adage Capital Management. X 6 340000 Opinions of experts X 256 4079643 Market Value X 2 147118 Opinions of experts X Riding equipment 3 13600 Sale of comparable equipment 7 0 1 1 Schedule M, Part I, Line 32b For gifts of tangible real or personal property that do not meet the College's mission objectives, the College engages the services of an auction house or real estate agent to sell the property and transfer the proceeds to the College. Form 990, Part VI, Section A, Line 7a According to the College's by-laws, five Trustees known as Alumnae Trustees, shall be elected by the alumnae in accordance with the by-laws of the Alumnae Association. One Alumna Trustee shall be elected each year to serve for a period of five years. In addition, the President of the Alumnae Association shall serve as a sixth Alumna Trustee during her term of office. The election of Trustees, other than Alumnae Trustees, may be held at any regular or special meeting provided that written notice of such election, including the names of nominees, has been made at least three days prior to the meeting. Nominations shall be made by the Nominating and Governance Committee. Form 990, Part VI, Section B, Line 11b Annual review of the College's Form 990 is delegated to the Audit Committee. The Nominating and Governance Committee is responsible for reviewing the sections of the Form 990 that pertain to compensation and reporting back to the Audit Committee. This process permits the group of Trustees (the Audit Committee) who are most knowledgeable to review the document on behalf of the entire Board. The Audit Committee reports any findings to the Board of Trustees and the complete copy of the Form 990 is provided to each Trustee prior to filing. Form 990, Part VI, Section B, Line 12c The College requires each member of the Board of Trustees to electronically transmit a Conflict of Interest Disclosure Form annually via the College's secured website. In addition, non-Trustee committee members, officers and employees with key responsibilities are asked to electronically submit Conflict of Interest Disclosure Forms annually. The Office of the President ensures that the completed forms are returned by all Trustees and the Office of Finance and Administration ensures that the completed forms are returned by all non-Trustee committee members, officers and employees with key responsibilities. The Office of Finance and Administration collects and records the submitted data from the secured website. The information on the submitted forms is summarized by the Vice President for Finance and Administration and Treasurer who provides a copy of the summary to the Audit Committee annually. The Audit Committee reviews the information disclosed and advises the President and the Chair of the Board as to potential conflicts. The Audit Committee may, at its discretion, delegate this annual review to the Chair of the Committee. By signing the Annual Conflict of Interest Disclosure Form, each individual agrees to answer any questions that Board members may have about potential conflicts. Form 990, Part VI, Section B, Line 15 Annually, the Human Resources Department assembles comparative salary data for all senior/executive positions at the College including: President and all Vice Presidents (Vice President for Academic Affairs/Dean of the Faculty, Vice President for Finance and Administration/Treasurer, Vice President for Advancement, Vice President for Student Life/Dean of Students, Vice President for Enrollment and College Relations, and Vice President for Communications and Marketing) and the Secretary of the College. This process was last undertaken in May 2017 for each of the positions mentioned above. Salary data for these executive positions is compiled from the Administrators in Higher Education Salaries Survey conducted annually by the College and University Professional Association for Human Resources (CUPA-HR) and assembled and analyzed using several views (25th and 75th percentiles, median, and mean) for salary data from all private independent institutions by comparable budget quartile as Mount Holyoke College, and from participating Consortium on Financing Higher Education (COFHE) institutions. In addition, Mount Holyoke College participates in a survey on executive total compensation which is conducted annually by a third party compensation consultant (currently conducted by Sullivan, Cotter & Associates). Twenty-seven of the College's peer institutions also participate in this survey. Salary data from this survey is analyzed in a similar fashion to the CUPA-HR data. This salary data, along with salaries of current Mount Holyoke College incumbents, is assembled and shared with the Chair of the Board of Trustees and with the Chair of the Nominating and Governance Committee. The data is then presented to the full Nominating and Governance Committee for discussion and decision on what salary adjustments, if any, will be recommended and brought to the full Board for a vote at their executive session. The Chair of the Board of Trustees is responsible for the oversight of the review of performance of the President. The President is responsible for oversight of performance management for the Vice Presidents. With regard to the President's compensation, in addition to comparative salary data, the Human Resources Department also assembles a summary report of Presidential "total" compensation. This report is also reviewed by and discussed with the Nominating and Governance Committee and shared with the entire Board at their executive session. The process for determining the compensation of the College's officers meets the three requirements of the rebuttable presumption standard. The compensation arrangements are approved in advance by the College's Nominating and Governance Committee. The Committee is appointed by the Board of Trustees for the purpose of assisting the Board in fulfilling its responsibility to the College and the community to ensure the compensation is in accordance with the College's policies. As mentioned, prior to making any compensation decisions, the Nominating and Governance Committee obtains and relies upon appropriate data as to comparability. The Committee utilizes compensation surveys that include comparable institutions to set compensation levels. Finally, the Nominating and Governance Committee adequately and timely documents the basis for setting compensation concurrently with the making of the determination. Form 990, Part VI, Section C, Line 19 The College makes its bylaws, conflict of interest policy and financial statements available to the public via the Mount Holyoke College website. In addition, the audited financial statements and Form 990 are available on the website of the Massachusetts Attorney General. Form 990, Part XI, Line 9 Other changes include Willits Hallowell Center support of -125,982, change in value of interest rate swaps of 3,215,113, change in FAS 158 pension liability of 1,648,271, change in value of split interest agreements of 1,944,814, and loss on debt refinancing of -1,931,148. Willits Hallowell Center Inc c/o Mount Holyoke College 50 College Street South Hadley MA 01075 042565823 MHC Meetings MA 501(c)(3) 12(d) The Trustees of Mount Holyoke College 1 Alumnae Association of Mount Holyoke College c/o Mount Holyoke College 50 College Street South Hadley MA 01075 042105894 Alumnae Networking MA 501(c)(3) 12(a) N/A 0 Associated Kyoto Program Inc Oberlin College Controllers Office Cox Admin Bldg 70 No Professor St Oberlin OH 44074 042996114 Educational Exchange MA 501(c)(3) 12(d) N/A 0 Center Redevelopment Corporation 17 College Street South Hadley MA 01075 042939950 Real Estate MA 501(c)(3) 12(a) The Trustees of Mount Holyoke 1 The Center Business Corporation 17 College Street South Hadley MA 01075 042983326 Small business investment MA Mount Holyoke College C -565 9677 1 1 Charitable Remainder Unitrusts (19) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Charitable Remainder Unitrusts Make Up (1) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Perpetual Trust (1) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Pooled Income Funds (2) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 Willits Hallowell Center Inc l 154135 Overhead Allocation Willits Hallowell Center Inc m 495539 Internal Sales Willits Hallowell Center Inc n 350000 Estimated fair market value of building Willits Hallowell Center Inc r 125982 Willits Hallowell Center subsidy Pooled Income Funds (2) s 968106 Mandatory Transfers Charitable Remainder Unitrusts (19) s 900726 Mandatory Transfers