2017-05-04T13:35:42-07:00 2016-06-30 990 2015-07-01 240795460 MORAVIAN COLLEGE MORA 6108611300 1200 Main Street Bethlehem PA 18018 Mark F Reed VP of Finance & Administration 6108611312 2017-05-04 2015 2021-01-29 14:40:06Z Mark F Reed 1200 Main Street Bethlehem PA 18018 127310099 0 X www.moravian.edu X 1933 PA To operate an independent, residential and coeducational liberal arts College and Theological Seminary affiliated with the Moravian Church in America. Moravian College delivers a values-based liberal arts education in a caring environment. Located in Bethlehem, Pennsylvania, it traces its founding to 1742 and is recognized as America's sixth-oldest college. 54 44 1645 877 5137 -3730 6336999 17275715 65438210 77568342 7448099 4047327 4070118 6602593 83293426 105493977 24889590 30137253 0 0 31334463 35204878 0 0 1530876 21301346 21993243 77525399 87335374 5768027 18158603 219516721 265863447 44622794 79060072 174893927 186803375 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 69487830 29896348 69750792 Liberal Arts College: Moravian College operates an 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, 2016, the College had enrollment of 1728 full-time equivalent students in the undergraduate program, and 189 full-time equivalent students in the graduate programs. 1723401 240997 881326 Theological Seminary: Moravian College's Theological Seminary, rooted in the Moravian faith tradition, offers graduate degrees and continuing education programs to prepare men and women for effective leadership and service in congregational, counseling, teaching and other ministries. Average full-time equivalent enrollment for the year ending June 30, 2016 was 50. 5979259 0 11782981 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 Part III, line 4a and 4b. 0 0 0 77190490 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 0 1 0 1 0 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 2923 0 1 1645 1 1 1 1 BD CJ 0 0 0 1 1 1 1 0 0 0 X 54 44 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X Marie Breisch 6108611549 1200 Main Street Bethlehem PA 18018 Dr Bryon L Grigsby President/College & Seminary Trustee 40 X X 284607 0 36183 Frank L Crouch VP/Dean Theo Sem/Sem Trustee 40 X 92581 0 60096 The Rev Dr Deborah Appler Seminary Trustee 40 X 71807 0 48446 Mr Curtis H Barnette College Trustee 1.5 X 0 0 0 Rev David E Bennett College/Seminary Trustee 1.5 X X 0 0 0 The Rev Dr Elizabeth D Miller College/Seminary Trustee 1.5 X 0 0 0 Mr Gregory Christensen College Trustee 1.5 X 0 0 0 Mrs Lyn Trodahl Chynoweth College Trustee 1.5 X 0 0 0 Mr Brian J Corvino College Trustee 1.5 X 0 0 0 Mr Michael M Ellis College Trustee 1.5 X 0 0 0 Mrs Genevieve Gee College Trustee 1.5 X 0 0 0 The Rev David B Guthrie College/Seminary Trustee 1.5 X 0 0 0 Mrs Deborah McKinnon College Trustee 1.5 X X 0 0 0 Dr Parry J Miller College Trustee 1.5 X 0 0 0 Mrs Betsey Puth College Trustee 1.5 X 0 0 0 Mr Kenneth Rampolla College/Seminary Trustee 1.5 X X 0 0 0 Mr A Reed Raymond College Trustee 1.5 X 0 0 0 Mr Frederick A Reinhard College Trustee 1.5 X 0 0 0 Mr Robert J Schoenen College Trustee 1.5 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 Mrs Nancy A Taylor College Trustee 1.5 X 0 0 0 Mr Walter F Williams College Trustee 1.5 X 0 0 0 Mr Stephen Black 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 Mr F Scott Bauer Seminary Trustee 1.5 X 0 0 0 Mr J Robert Hess Seminary Trustee 1.5 X 0 0 0 Mrs Joyce Vance Seminary Trustee 1.5 X 0 0 0 The Rev Katie Van Der Linden Seminary Trustee 1.5 X 0 0 0 Mrs Heather H Vacek Seminary Trustee 1.5 X 0 0 0 The Rev Dr Janice M Young Seminary Trustee 1.5 X 0 0 0 Mr Jonathan Strauss College Trustee 1.5 X 6404 0 0 Mr Bryan Peacock College/Seminary Trustee 1.5 X 0 0 0 Ms Alyson Remsing College Trustee 40 X 46338 0 16205 Mr Ray S Bishop Jr College Trustee 1.5 X X 0 0 0 The Rt Rev M Blair Couch Seminary Trustee 1.5 X 0 0 0 Robert Flicker College Trustee 1.5 X 0 0 0 Dr Cecilia Fox College Trustee 40 X 85432 0 5224 Mr Andrew W Hart College Trustee 1.5 X 0 0 0 Ms Helen Kurczynski Seminary Trustee 1.5 X 0 0 0 The Rev Margaret Wellert Seminary Trustee 1.5 X 0 0 0 Mrs Laurie R Brubaker College Trustee 1.5 X 0 0 0 Ms Melissa Cheong College Trustee 1.5 X 462 0 0 Mrs Jessica Grillo College Trustee 1.5 X 0 0 0 Mr Robert W McKinley College Trustee 1.5 X 0 0 0 Dr James Paxton College Trustee 40 X 62953 0 13751 Dr William S Schaninger Jr College Trustee 1.5 X 0 0 0 Mr Greg Weir College Trustee 1.5 X 0 0 0 Mr Ellison D Mullis II Seminary Trustee 1.5 X 0 0 0 Bishop John R Schol Seminary Trustee 1.5 X 0 0 0 The Honorable Wilma A Lewis Seminary Trustee 1.5 0 X 0 0 0 Cynthia K Kosso Provost & Dean of Faculty 40 X 75134 0 15786 Mark F Reed VP for Finance & Administration 40 X 144175 0 32472 Gary A Carney VP Institutional Advancement 40 X 155183 0 62735 Carole Ann Reese VP for Planning & Research 40 X 126844 0 27127 Anne M Reid Associate VP of Finance 32.5 X 86574 0 26079 Ms Nicole Loyd VP Student Affairs/Dean of Students 40 X 127924 0 18599 Steven F Soba VP Enrollment 40 X 145032 0 20246 Bernardo J Cantens Professor Philosophy 40 X 114699 0 61179 Kerry H Cheever Professor Nursing 40 X 123217 0 12679 Carol A Traupman Carr Associate Provost 40 X 112128 0 37993 Scott Charles Hughes CIO 40 X 115808 0 17894 James P West Professor Economics and Business 40 X 116786 0 17683 2094088 0 530377 24 0 1 0 Sodexo Inc & Affiliates 4880 Paysphere Circle Chicago IL 60674 Contract food service management 295469 ESA 1033 Demonbreun Syreet Suite 800 Nashville TN 37203 Design and build 393034 Mindpower Inc 337 Georgia Avenue SE Atlanta GA 30312 Admissions marketing 279336 Education and Training Services 1601 N 2nd Street Suite A1 Millville NJ 08332 International student recruitment 229388 Alliance Media Group 1874 Catasauqua Road Suite 390 Allentown PA 18109 Advertising 203645 8 0 0 80079 0 714948 16480688 135009 17275715 Tuition and Fees 611310 70254570 70254570 0 0 Dormitory Fees and Rentals 611310 7116655 7116655 0 0 Athletic Receipts 611310 40846 40846 0 0 Federal Admin Reimbursement 611310 64804 64804 0 0 Misc. Education Program Fees 611310 82167 82167 0 0 9300 0 9300 0 77568342 2482823 0 0 2482823 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 21327511 41902 19754423 50486 1573088 -8584 1564504 0 0 1564504 43956 80079 85390 -41434 0 -41434 6592149 1925823 4666326 4666326 0 0 Student Fees & Fines 611310 160774 160774 0 0 Miscellaneous 611310 48048 48048 0 0 Contribution from MCHI 611310 1773042 0 0 1773042 -4163 0 -4163 0 1977701 105493977 82434190 5137 5778935 0 0 30137253 30137253 1854112 780784 875358 197970 0 0 0 0 26529609 23198042 2520744 810823 1419505 1256277 122978 40250 3540690 3088903 359334 92453 1860962 1582493 215075 63394 544535 544535 0 0 49768 3460 46308 0 95661 0 95661 0 0 0 0 0 0 0 269067 0 269067 0 202670 74013 56772 71885 321031 85827 234584 620 1565138 1126792 335937 102409 1668097 436130 1231967 0 0 0 0 0 4303348 3787584 515764 0 937566 820921 76590 40055 0 0 0 0 0 0 0 0 1448948 1173231 275717 0 6470486 5933813 536673 0 138224 108508 29716 0 Publications 334336 3794 330319 223 Student Government 440635 440635 0 0 Food Service other costs 528602 528602 0 0 Grounds Maintenance 450938 450938 0 0 2224193 1627955 485444 110794 87335374 77190490 8614008 1530876 13617 13357 5248178 8309603 765098 12264909 1222451 1551186 0 0 0 0 1000000 1000000 16276 26566 2587366 4781285 187280051 84130048 94183549 103150003 70314178 67343348 32677500 31111027 1824252 6799250 0 0 9664256 29512913 219516721 265863447 4211880 5857326 0 0 1243328 1618570 35433316 66069700 0 0 0 0 0 0 0 0 3734270 5514476 44622794 79060072 X 80720246 84749605 29946744 31582126 64226937 70471644 174893927 186803375 219516721 265863447 X 18158603 -5869149 0 0 0 -380006 X 1 X 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2410 4226632 0 0 X X X 0 100942754 2591183 -1661426 1656459 2647989 269068 97298995 101009201 2687899 1555176 1546490 2536300 226732 100942754 90483685 1746360 13237261 1621579 2650612 185914 101009201 84146237 2011902 8203490 1372978 2297544 207422 90483685 84070577 4072544 -44477 1374890 2370722 206795 84146237 0.18 0.82 0 1 0 0 5263497 5263497 0 114704321 45476525 69227796 0 0 0 0 0 36635994 25680307 10955687 0 30676239 12973216 17703023 103150003 Alternative Investments (Hedge/PE/Real Asset) 31111027 F 31111027 Deposits with Trustee 24868918 Investment Income Receivable 738721 Funds held in trust (Split interest agreeements) 3905274 29512913 Refundable federal loans 1248472 Annuity payable 1133694 Accumulated post-retirement benefits 444497 Capital lease obligations 2208876 Misc. other liabilities 478937 5514476 70849182 -5869149 0 0 -30512656 -36381805 107230987 269067 -2006077 -1737010 105493977 58940176 0 0 0 2011214 2011214 56928962 269067 30137345 30406412 87335374 Schedule D, Part III, Line 4 Moravian College's permanent collection consists of art works in varying media (painting, 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, 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 480 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 XI, Line 2d $30,137,345 Student Aid; $375,311 Change in value of split interest agreements. Schedule D, Part XI, Line 4b $1,925,823 Cost of goods sold; $85,391 special fund raising event costs; UBIT $5,137 Schedule D, Part XII, Line 2d $1,925,823 Cost of goods sold; $85,391 other fund raising costs Schedule D, Part XII, Line 4b $30,137,345 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 The Prospectus, which lists Moravian College's non-discriminatory policy in detail, is given to every prospective student who inquires about admission. Schedule E, Part I, Line 6 The College receives National Science Foundation Grants, National Endowment for the Humanities Grants and a National Security Agency Grant. Students attending the College participate in Federal Family Education Loan, Direct Student Loan, Perkins Loan, Pell Grant, Supplemental Educational Opportunity Grant, Federal work study programs, the Academic Competitiveness Grant and the National Smart Grant. Central America and the Caribbean 0 0 Program Services Educational trips 4450 East Asia and the Pacific 0 0 Program Services Study abroad 21042 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad and educational trips. 207776 South America 0 0 Program Services Study abroad 24000 Central America and the Caribbean 0 0 Investments 2839626 0 0 3096894 0 0 0 1 1 0 Schedule F, Part I, Line 3 Accounting method - Accrual; Central America and the Caribbean - Investments of $2,839,626 and Educational trips of $4,450 Moravian College Blue & Grey Golf Classic 77371 59729 17642 0 2452 19840 896 0 4569 Moravian College Night of Stars 46664 20350 26314 0 1470 10655 30647 5625 9236 0 124035 80079 43956 0 3922 30495 31543 5625 13805 85390 -41434 1 Scholarships and grants for various students 1747 30137345 Schedule I, Part I, Line 2 Moravian College follows state and federal regulations in administering scholarship and grants as well as institutional policy when administering college funds. Moravian follows federal methodology to determine financial need for awarding federal funds and institutional methodology in awarding need-based institutional funds. All students applying for financial aid follow an annual application process completing the free application for federal student aid (FAFSA) and an institutional application. Files are reviewed for conflicting information and to complete required verification of application data. Moravian credits all financial aid awards directly to students' receivable account offsetting charges for tuition and fees. 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 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Gary A Carney VP Institutional Advancement 153060 0 0 0 2123 0 11816 0 50919 0 217918 0 0 0 Dr Bryon L Grigsby President/College & Seminary Trustee 261527 0 16600 0 10480 0 20244 0 11939 0 320790 0 0 0 Mark F Reed VP for Finance & Administration 144008 0 0 0 167 0 11320 0 21152 0 176647 0 0 0 Carole Ann Reese VP for Planning & Research 126251 0 0 0 593 0 7018 0 20109 0 153971 0 0 0 Steven F Soba VP Enrollment 144185 0 0 0 847 0 11057 0 9189 0 165278 0 0 0 Carol A Traupman Carr Associate Provost 111919 0 0 0 809 0 7804 0 30189 0 150721 0 0 0 Bernardo J Cantens Professor Philosophy 114598 0 0 0 101 0 8435 0 52743 0 175877 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.Accordingly, this is not taxable income. College owned housing is also provided to the Provost of the College. This house is on campus and is provided to the Provost as a condition of employment. Accordingly, it is not taxable income. 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 reimburses 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. Schedule J, Part I, Line 4 The President participates in a supplemental 457b non-qualified pension plan. A Pennsylvania Higher Education Facilities Authority 232243852 70917N6U3 2005-06-16 4632313 Refunding of callable 1994 tax-exempt bonds 0 0 0 B Northampton County Industrial Development Authority 231971754 66353LBJ5 2011-05-19 5000000 Renovations to existing campus facilities & construction of new fitness center 0 0 0 C Northampton County General Purpose Authority 231971754 66353LBQ9 2012-04-04 22522097 Refunding of callable 1999 and 2001 tax-exempt bonds 0 0 0 D Northampton General Purpose Authority 231971754 66353LCC9 2013-01-31 9999015 Renovations to existing Hall of Science academi facility. 0 0 0 A 4632313 0 4632313 0 0 0 55694 70444 0 0 0 0 2005 1 0 1 1 B 5000000 0 50000000 0 0 0 62545 0 0 4937455 0 0 2012 0 0 1 1 C 3237097 0 22522097 2081195 0 0 0 0 0 0 20339807 0 2012 1 0 1 1 D 634015 0 9999015 0 0 0 0 0 0 9827914 0 0 2013 0 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 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 1 0 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part IV, Line 2c-06/16/2005 4,632,313 Pennsylvania Higher Education Facilities Authority PHEFA 2005 Final bond arbitrage computation performed on 7/27/15 Schedule K, Part IV, Line 2c-04/04/2012 22,522,097 Northampton County General Purpose Authority NCGPA 2012 bond arbitrage computation performed on 4/04/16 Schedule K, Part IV, Line 2c-01/31/2013 9,999,015 Northampton General Purpose Authority NCGPA 2013 bond arbitrage computation performed on 1/31/15 A Northampton County General Purpose Authority 231971754 66353LDA2 2016-02-04 31276463 Construct new turf field and health science building. Refinance 2011 issue. Purchase MCHI 0 0 0 A 0 0 31276423 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 A 0 0 1 0 0 0 0 0 1 A 1 Various individuals Trustees 73508 Financial aid Financial assistance to attend college Mark F Reed Officer/Director of Moravian College Housing Inc 4113738 Various-see Part V 0 Bryon Grigsby Officer/Director of Moravian College Housing Inc 0 Various-see Part V 0 Nicole Loyd Officer/Director of Moravian College Housing Inc 0 Various-see Part V 0 Schedule L, Part IV 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). Equity Contribution to MCHI $4,035,338; Accrued Interest on $1,000,000 note receivable $26,667; Reimbursement of expenses incurred on behalf of MCHI $26,593; Lease of classrooms $25,140 X 1 2410 FMV X 200 FMV X 5 34945 FMV X 1 68674 FMV X Equipment 6 26046 FMV X Decorations/Plants 3 1192 FMV X Supplies/Prizes 4 1542 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 A, Line 2 Michael Ellis (College Trustee) and Anne Reid (Associate VP for Finance) have a business relationship. Form 990, Part VI, Section B, Line 11b Moravian College and Theological Seminary ("Institution") recognize that the governance role of its respective Board of Trustees 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 timely filed). 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 time frame 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 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: As delegated representatives of the Joint Executive Committee of the Board of Trustees of Moravian College and Moravian Theological Seminary, the Executive Compensation Sub-Committee ("Committee") has the power, duty and responsibility to determine the institution's Executive Compensation Philosophy and to establish such guidelines, rules and procedures as necessary for the proper and efficient administration of the Executive Compensation Program (ECP"). Further, the Committee acknowledges its responsibility to ensure that the program is appropriate in view of its mission, and tax-exempt status, and that its compensation and benefits are reasonable and not excessive. 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: The Committee shall be comprised of eight (8) members appointed by the Chair of the Joint Board. All 8 members shall all be members of the Joint Executive Committee. The Chairman of the Committee shall be the Chair of the College's Finance Committee (Joint Board Treasurer). The other members shall be: 1. The Chairman of the Board of the College; The Chairman of the Board of the Seminary; The Vice Chairman of the Board of the College; The Vice Chairman of the Seminary Board; The Co-Chair of the Finance Committee of the Seminary; The Chair of the Committee on Investments; and The Chair of the Academic Committee of the College. 2. The president attends all meetings (except when the Committee meets in Executive Session) as a non-voting member. Executives: The Committee will determine the compensation of the President of the College. The executives whose compensation will be approved by the Committee currently consist of the 10 additional individuals in the following positions: - The Vice President of Finance and Administration; - The Provost and Dean of Faculty; - The Vice President of Enrollment Management; - The Vice President of Student Affairs and Dean of Students; - The Vice President of Institutional Advancement; - The Vice President and Dean of the Seminary; - Chief Human Resources Officer; - Chief Information Officer; - The Vice President for Planning and Research, and - Director of Athletics & Recreation. 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 -$375,111 Change in value of split interest agreements; -$5,137 Unrelated business income from 990T; $242 rounding MORAVIAN COLLEGE HOUSING INC 1200 MAIN STREET BETHLEHEM PA 18018 260466209 to provide housing and educational opportunities for college students PA 501 (c) (3) 9 MORAVIAN COLLEGE 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 MORAVIAN COLLEGE HOUSING INC a-i 26667 accrual MORAVIAN COLLEGE HOUSING INC b 4035338 GAAP Additional time was required for completion and governance review per stated procedures.