2017-02-01T08:38:15-07:00 2016-05-31 990 2015-06-01 042111203 TRUSTEES OF CLARK UNIVERSITY TRUS 5087937499 950 Main Street Worcester MA 01610 Katherine Cannon Controller 5087937455 2017-02-01 2015 2021-01-29 14:40:06Z David Angel 950 Main Street Worcester MA 01610 193203441 0 X www.clarku.edu X 1887 MA Clark University's mission is to educate undergraduate and graduate students to be imaginative and contributing citizens of the world, and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. 30 30 2576 699 250340 199006 12855694 14799651 136137831 142371464 11694144 6321801 970778 1250524 161658447 164743440 58115662 61265039 0 0 64711799 67169151 58638 26876 5151577 37324071 38400590 160210170 166861656 1448277 -2118216 609697675 568383900 113138247 111432473 496559428 456951427 Clark University's mission is to educate undergraduate and graduate students to be imaginative and contributing citizens of the world, and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. Clark fosters a commitment to excellence in studying traditional academic disciplines, as well as innovation in exploring questions that cross disciplinary boundaries. 0 0 64028701 0 125501364 Instruction and academic support, with program expenditures of $64,028,701. Clark's fall 2015 enrollment consisted of 2,397 undergraduates and 1,088 graduate students. Our motto - and mission - is "Challenge Convention; Change Our World", and our faculty members work to inspire their students to utilize their liberal arts based education to make a real difference in the communities in which they live and work. We also have strong graduate programs, which include masters' level degrees and eight PhD programs. 7566930 1905306 0 Research, with program expenditures of $7,566,930 and grant contributions of $5,044,601. Clark is committed to a program of research and has a very professionally active faculty, virtually all of whom are engaged in sponsored or unsponsored research and creative activity. This includes grants to organizations of $701,140. Additionally, Clark provided funding to students to support their research and LEEP projects in the amount of $1,204,166. 59359733 59359733 0 Financial Aid, with expenditures/income offsets of $59,359,733. Clark is committed to being affordable to those students able to meet the high academic expectations of our faculty. Approximately 89% of undergraduate students receive some level of financial assistance, which is distributed on the basis of both merit and financial need. 12828092 0 14706479 Auxiliary Services includes providing high quality residence halls, food service, and book store services to Clark students. There are program expenditures of $12,828,092 and offsetting revenue of $14,706,479. 12704161 0 3183495 Student Services programs support an environment for students that encourages them to become active, involved and responsible citizens in global communities. Resources are expended to provide support to students in achieving their non-academic goals and providing a balanced and healthy social environment. 25532253 0 17889974 156487617 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 1 1 1 0 0 0 1 1 1 1 0 1 0 0 0 0 1 0 1 1 1 0 0 0 0 1 1 1 0 0 1 6062 0 1 2576 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X Julie L Dolan 5087937455 950 Main Street Worcester MA 01610 Jennifer Abrams Trustee 2 0 X 0 0 0 Dimitry Anselme Trustee 2 0 X 0 0 0 Jason M Barnett Trustee 2 0 X 0 0 0 Andrew Brandman Trustee 2 0 X 0 0 0 David Chaifetz Trustee 2 0 X 0 0 0 Kevin Cherry Trustee 2 0 X 0 0 0 Rebecca Colin Trustee 2 0 X 0 0 0 Elyse Darefsky Trustee 2 0 X 0 0 0 Mona Domosh Trustee 2 0 X 0 0 0 Catherine Dunham Trustee 2 0 X 0 0 0 Barbara Dyer Trustee 2 0 X 0 0 0 Eric Epstein Trustee 2 0 X 0 0 0 Richard Freeland Trustee 2 0 X 0 0 0 Ross Gillman Trustee 2 0 X 0 0 0 Wolfgang Hammes Trustee 2 0 X 0 0 0 Daniel Hirsch Trustee 2 0 X 0 0 0 Peter Klein Trustee 2 0 X 0 0 0 Lawrence Landry Trustee 2 0 X 0 0 0 John O'Brien Trustee 2 0 X 0 0 0 Jodi Reiskind Trustee 2 0 X 0 0 0 Vickie H Riccardo Trustee 2 0 X 0 0 0 Steven Roberts Trustee 2 0 X 0 0 0 Paul Saltzman Trustee 2 0 X 0 0 0 Linda Savitsky Trustee 2 0 X 0 0 0 Jeffrey Siegal Trustee 2 0 X 0 0 0 Robert Stevenish Trustee 2 0 X 0 0 0 Robert Stevenish II Trustee 2 0 X 0 0 0 David Strassler Trustee 2 0 X 0 0 0 Theresa Strempek Trustee 2 0 X 0 0 0 Steven Swain Trustee 10 0 X 0 0 0 Sumner Tilton Trustee 2 0 X 0 0 0 Wendi J Trilling Trustee 2 0 X 0 0 0 Ronald Walter Trustee 2 0 X 0 0 0 Cynthia Wolpert Trustee 2 0 X 0 0 0 David Angel Officer 40 0 X 361231 0 47503 Katherine Cannon Officer 40 0 X 131521 0 14080 Julie Dolan Officer 40 0 X 299757 0 45745 John Foley Officer 40 0.25 X 152129 0 15332 Davis Baird Key Employee 40 0 X 255732 0 25640 Nancy Budwig Key Employee 40 0 X 197074 0 22368 Paula David Key Employee 40 0 X 238566 0 34475 William Fisher Key Employee 40 0 X 196052 0 20419 Pennie Turgeon Key Employee 40 0 X 176245 0 63318 Jeffrey Hite Gillooly Key Employee 40 0 X 174957 0 26217 Matthew Malsky Key Employee 40 0 X 152475 0 15341 Deborah Dwork Faculty 40 0 X 199678 0 18797 Robert Johnston Faculty 40 0 X 193652 0 35336 Catherine Usoff Dean of Graduate School of Management 40 0 X 254320 0 40518 Jonathan Kappel Exec Director of Principal Gifts 40 0 X 204368 0 24180 Donald Honeman Dean of Admissions & Financial Aid 40 0 X 181450 0 18624 Denise Darrigrand VP for Student Affairs & Dean of Students 40 0 X 186089 0 19394 3555296 0 487287 95 1 1 0 Sodexo Inc Affiliates 9801 Washington Blvd Gaithersburg MD 20878 Food service management 5425082 Consigli Construction Company 72 Sumner Street Milford MA 01757 construction 2601132 RAD Corp 171 VFW Drive Rockland MA 02370 field site prep 1186800 Greener U 480 Pleasant Street Watertown MA 02472 sustainability solutions 865437 Architerra Inc 68 Long Wharf Boston MA 02110 architectural services 551811 30 0 0 0 0 3933891 10865760 3326408 14799651 Tuition and fees 611310 125987567 125987567 0 0 Geographic Software 443120 495646 495646 0 0 Housing 721310 9158973 9158973 0 0 Food Services 722310 5542106 5542106 0 0 All Other 900099 1187172 1187172 0 0 0 0 0 0 142371464 2065636 0 0 2065636 281 0 0 281 239739 239739 0 0 453290 0 222640 0 230650 0 230650 0 0 230650 4692493 27800752 1825784 26411577 2866709 1389175 4255884 0 250340 4005544 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Energy Incentives/Grants 900099 668947 668947 0 0 Workers Comp Incentive/Rebates 900099 111188 111188 0 0 0 0 0 0 780135 164743440 143391338 250340 6302111 424861 424861 60485818 60485818 354360 354360 0 0 2868967 1317337 1179463 372167 0 0 0 0 51180838 40371842 8800178 2008818 3723052 2895588 726981 100483 5840249 4339839 1282356 218054 3556045 2781594 637405 137046 1462387 1142465 182001 137921 110988 9949 97418 3621 205338 25580 175298 4460 18000 0 18000 0 26876 26876 1024164 0 1024164 0 2535760 1676118 713334 146308 461397 324919 104933 31545 3592371 2665153 551791 375427 1564323 1358329 26308 179686 6297 6297 0 0 4619548 859297 3737660 22591 2133407 1889992 92247 151168 0 0 0 0 1365523 958992 133015 273516 1416102 1322308 91643 2151 0 0 0 0 8085233 7338671 648167 98395 505534 1853 498102 5579 Study Abroad 2014963 2014963 0 0 Other Food Service-Auxiliary 4578612 4628979 -51643 1276 Other Expenses-Library Acqusitions 1460193 1460193 0 0 Other Expenses-Misc. 1069280 5958449 -5023695 134526 171170 9873871 -10422664 719963 166861656 156487617 5222462 5151577 6203045 6091831 42784588 33305148 4555249 4562728 807356 1065367 0 0 0 0 98093 6728679 222892 260457 1237322 1145085 225439620 110566718 123825362 114872902 78034996 63520568 345123419 329650265 5447610 5879084 0 0 1357743 1301786 609697675 568383900 13173653 12284890 0 0 9972238 9727507 73183263 73064459 0 0 0 0 0 0 510000 200000 16299093 16155617 113138247 111432473 X 134636588 123967405 229044014 197351814 132878826 135632208 496559428 456951427 609697675 568383900 X -2118216 -27292658 0 0 0 -10197127 X 0 1 X 1 1 1 X 15210416 15071513 14471658 12855694 14799651 72408932 0 0 0 0 0 0 0 0 0 0 0 0 15210416 15071513 14471658 12855694 14799651 72408932 374543 72034389 5407813 5245943 3595819 2747972 2536306 19533853 1083858 110050 75327 458800 250340 1978375 0 0 0 0 0 0 93921160 0 0.76697 0.58150 X Schedule A, Part II, Line 15 In FY15, the public support percentage was calculated removing those contributions exceeding 2% of one year's support instead of those exceeding 2% of the five year cumulative support.This was corrected in FY16 and resulted in a higher level of public support. Under either calculation, Clark University qualifies as a publicly supported organization. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 31611 0 0 31611 0 Schedule C, Part II-B, Line 1 Gerald D'Amico works with the University to make us aware of federal and state programs, the funding of which may be of assistance to Clark programs. A small portion of the President and VP for Community and Government Relations is spent meeting with and calling government officials. 0 0 X X X 0 403722250 3560695 -21059146 5210579 10221964 1711460 369079796 392092388 2129236 25113524 4713627 9339994 1559277 403722250 354873810 1490257 50688500 4517234 8948173 1494772 392092388 299286423 12123813 58133097 4478668 8725193 1465662 354873810 316926482 1812063 -5223151 8446464 4360313 1422194 299286423 0.15 0.34 0.51 1 0 0 16212909 16212909 202280 194649458 103490292 91361446 0 1061370 557091 504279 0 10325404 6519335 3806069 0 2988199 0 2988199 114872902 0 0 Partnerships/Alternative investments 329327407 F Other 322858 F 329650265 70196 Annuities payable 6813827 Perkins federal liability contra 5396000 PILOT liability 1159477 Conditional Asset Retirement Obligation 1079269 Interest rate swap 604398 Capital lease obligation 495284 HECCMA Agency Fund 152794 China tax liability reserve 100000 Deferred compensation-President 100000 FIN 48 liability 89495 Agency-NE Education Ins Association 38746 Cash card liability - food service 30316 Potter unitrust Salvation Army 25403 Miscellaneous tax liabilities and other 322 Payroll deduction gift clearing-RE 90 16155617 X 76562779 -27292658 0 0 -60086479 -87379137 163941916 1024164 -222640 801524 164743440 106715027 0 0 0 222640 222640 106492387 1024164 59345105 60369269 166861656 Schedule D, Part III, Line 1 The University houses certain collections of works of art, literary works and artifacts. These collections are protected and preserved for public exhibition, education, research, and the furtherance of public service. They are neither disposed of for financial gain nor encumbered in any manner. Accordingly, these collections are not recorded or capitalized for financial statement purposes. Schedule D, Part III, Line 4 Clark University has art and book collections that are used by students and faculty to enhance curriculum. On occasion, these works have been accessed for scholarly research. Schedule D, Part V, Line 4 The University has adopted an endowment investment philosophy, which combined with the spending rate, attempts to provide a predictable stream of returns thereby making funds available to programs that are supported by its endowment, while at the same time seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that the organization must hold in perpetuity or for donor-specified periods, as well as, board-designated funds. Under the University's Investment Policy and spending rate, both of which are approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to produce an inflation-adjusted return in excess of the spending rate over a long period of time. The use of the distribution is for mission related activities including student scholarships, library acquisitions, research, academic support, student loans, and instruction. Schedule D, Part X, Line 2 The University is required to assess uncertain tax positions and has determined that there were no such positions that are material to the consolidated financial statements. Schedule D, Part XI, Line 2d Re-class revenue to expense: tuition remissions -59,359,733; Re-class revenue to change in net assets: student loan net activity 3,410, change in value of post retirement health obligation -43,955, change in the value of the interest rate swap -448,343,change in value of split interest and beneficial interest in outside trust -55,957,change in annuity and unitrust obligation -220,221,gain on extinguishment of debt 84,518, capital contribution to Jonas Realty Corp. -9,516,583. Elimination of related party activity from consolidated statement 9,470,385. Schedule D, Part XI, Line 4b Re-class of rental property expense to revenue -$222,640. Schedule D, Part XII, Line 2d Re-class rent to revenue. Schedule D, Part XII, Line 4b Re-class tuition reductions from contra-revenue to expense 59,359,733. Expenses from Related Organization-Jonas Realty Corp. -14,628. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Policy is printed in student handbooks, is available on the school website, and is referenced in all print media. Schedule E, Part I, Line 6 To provide financial assistance to our students, the University participates in the Title IV program for Campus Work Study, Supplemental Education Opportunity Grants and the Perkins loan program. 1 Central America and the Caribbean 0 0 Grantmaking 3990 East Asia and the Pacific 0 0 Grantmaking 3274 Europe (including Iceland and Greenland) 0 0 Grantmaking 19307 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 14773 South America 0 0 Grantmaking 11694 Sub-Saharan Africa 0 0 Grantmaking 26247 East Asia and the Pacific 0 0 Program Services conferences 16155 Europe (including Iceland and Greenland) 0 0 Program Services conferences 73308 Middle East and North Africa 0 0 Program Services conferences 11581 North America (including Canada and Mexico, but not the United States) 0 0 Program Services conferences 20821 South America 0 0 Program Services conferences 1896 South Asia 0 0 Program Services conferences 1830 Sub-Saharan Africa 0 0 Program Services conferences 7680 Central America and the Caribbean 0 0 Program Services instruction 23701 East Asia and the Pacific 0 0 Program Services instruction 942410 Europe (including Iceland and Greenland) 0 0 Program Services instruction 667270 North America (including Canada and Mexico, but not the United States) 0 0 Program Services instruction 8298 Russia and the newly independent States 0 0 Program Services instruction 41303 South America 0 0 Program Services instruction 2000 Sub-Saharan Africa 0 0 Program Services instruction 162 East Asia and the Pacific 0 0 Program Services professional development 8902 Europe (including Iceland and Greenland) 0 0 Program Services professional development 2428 Sub-Saharan Africa 0 0 Program Services professional development 1540 Central America and the Caribbean 0 0 Program Services program development 473 East Asia and the Pacific 0 0 Program Services program development 47115 Europe (including Iceland and Greenland) 0 0 Program Services program development 56170 Middle East and North Africa 0 0 Program Services program development 2662 North America (including Canada and Mexico, but not the United States) 0 0 Program Services program development 644 Russia and the newly independent States 0 0 Program Services program development 1402 South America 0 0 Program Services program development 468 South Asia 0 0 Program Services program development 2421 Sub-Saharan Africa 0 0 Program Services program development 2285 Central America and the Caribbean 0 0 Program Services student recruitment 38895 East Asia and the Pacific 0 0 Program Services student recruitment 4287 Europe (including Iceland and Greenland) 0 0 Program Services student recruitment 19352 Middle East and North Africa 0 0 Program Services student recruitment 12432 South America 0 0 Program Services student recruitment 3883 Sub-Saharan Africa 0 0 Program Services student recruitment 16031 Central America and the Caribbean 0 0 Investments 4394608 0 0 6513698 East Asia and the Pacific Research 80530 wire transfer 0 Europe (including Iceland and Greenland) Research 110170 wire transfer 0 North America (including Canada and Mexico, but not the United States) Research 80864 check 0 5 3 Research grants Europe (including Iceland and Greenland) 3 5552 electronic funds transfer 0 Research grant Middle East and North Africa 1 1319 check 0 Scholarships East Asia and the Pacific 3 21191 check and electronic funds transfer 0 Scholarships Europe (including Iceland and Greenland) 18 40337 check and electronic funds transfer 0 Scholarships Sub-Saharan Africa 5 10682 check and electronic funds transfer 0 0 1 0 0 1 1 0 Schedule F, Part I, Line 2 PRE-AWARD SUBRECIPIENT MONITOR: Federal awards are identified by informing each subrecipient of CFDA title and number, award name and number, award year, and name of Federal agency. If any of this information is not available, the pass-through entity shall provide the best information available to describe the Federal award. The subrecipient is advised of requirements imposed by governing laws, regulations, and provisions of contracts or grant agreements and supplemental requirements imposed by the pass-through entity. The subrecipients' activities are monitored to ensure awards are used for authorized purposes in compliance with laws, regulations, and the provisions of contracts or grant agreements and performance goals are achieved. Assurance is ascertained that any sub recipient expending $750,000 or more in Federal awards during the subrecipient's fiscal year must meet the audit requirements of Uniform Grant Guidance (formerly OMB A-133). A management decision on audit findings must be issued within six months after receipt of the subrecipient's audit report and ensure that the subrecipient takes appropriate and timely corrective action. A determination is made as to whether subrecipient audits necessitate adjustment of the pass-through entity's own records. Each subrecipient is required to permit the pass-through entity and auditors to have access to the records and financial statements as necessary for the pass-through entity to comply with this part. POST-AWARD SUBRECIPIENT MONITORING: The Principal Investigator (PI) or Program Director (PD) is responsible for monitoring the activities. The subrecipient submits progress reports, technical reports and other deliverables to the PI/PD by specified due dates. The PI/PD is responsible for forwarding copies of the subrecipient's report(s) to the Office of Sponsored Programs and Research (OSPR). Subrecipient invoices submitted to the university must contain the following information: invoice must be on subcontractor's letterhead, date of invoice, invoice number, period of performance covered by the invoice, itemized description of services and backup documentation, current period costs, including cost sharing, cumulative project costs, sub recipient contact person with respect to invoice, invoice must be signed by an authorized official of the subcontractor, invoice must contain a certification that all payments requested are for appropriate purposes and in accordance with the agreements set forth in the application and award documents. The PI/PD is responsible for reviewing and approving invoices from subrecipient(s) for adherence to the budget. The signature of the PI/PD on the invoice indicates that the review has taken place and that the invoice adheres to budget. Grant Accounting reviews the subrecipient's invoice(s) for the following: period of performance is within the contract period, appropriate invoice format and level of detail, signatures of the PI/PD, certification of signature by authorized subrecipient representatives, funds are available in contract, and cost share documentation is provide, if applicable. Grant Accounting is responsible for ensuring that sub recipients that expend $750,000 or more of Federal funds each fiscal year submit an Audit Certification Letter. The following is required to close out a subrecipient award: receipt of final invoice, receipt of cost share documentation, if applicable, time and effort certifications, final progress and technical reports, annual audit certification letter. Grant Accounting is responsible for tracking payments made to individuals or organizations and where payments are made when out of the US as required by the Schedules F and I - Form 990. EDUCATIONAL ASSISTANCE: Educational assistance is awarded based on financial need and merit. Need based assistance is awarded after review of the student's FAFSA, tax return information, W-2 statements, and other relevant financial documents. Students are required to maintain satisfactory academic progress in order to continue to be eligible for need based assistance. Students' Grade Point Averages and earned units are reviewed each academic year to ensure satisfactory academic progress is achieved. Merit based educational assistance is awarded to students via Committee. Students who are awarded merit based assistance are required to maintain satisfactory academic progress in accordance with the terms of the assistance received. Need and merit based educational assistance are funded directly to the student's accounts receivable balance to offset tuition, fees, and room and board. Any resulting refunds are issued to the student. Students may be granted research awards by their academic departments and in such cases work with faculty advisors who monitor the research performed by the student. X X X X X X 1 Pentera Inc 8650 Commerce Park Suite G Indianapolis IN 46268 Planned giving consulting 0 0 14691 -14691 Thomas Dolan 5 Townsend Circle West Boylston MA 01583 Campaign consulting 0 0 12185 -12185 0 26876 -26876 MA Schedule G, Part I, Line 2b Paid $5,085 to Pentera for postage. This amount is invoiced separately from fundraising services. Paid $4,500 to Pentera for website and website hosting. This amount was invoiced separately. 1 Assumption College 500 Salisbury Str Worcester MA 01609 042105776 501(c)(3) 9173 0 Research University of Oklahoma 660 Parrington Oval Norman OK 73019 731377584 501(c)(3) 57381 0 Research University of Connecticut 115 North Eagleville Road Storrs CT 06269 060772160 501(c)(3) 10264 0 Research Duquesne University 600 Forbes Avenue Pittsburgh PA 15282 251035663 501(c)(3) 11502 0 Research Florida Atlantic University 777 Glades Road Boca Raton FL 33431 650385507 501(c)(3) 13361 0 Research Lawrence Berkeley National Laboratory 1 Cyclotron Road Berkeley CA 94720 942951741 501(c)(3) 9000 0 Research College of the Holy Cross 1 College Street Worcester MA 01610 042103558 501(c)(3) 11467 0 Research University of Georgia Research Foundation 150 B Coverdell Center DW Brooks Drive Athens GA 30602 581353149 501(c)(3) 18309 0 Research Worcester Polytechnic Institute 157 West Street Worcester MA 01609 042121359 501(c)(3) 23835 0 Research University of North Carolina at Chapel Hill Office of Sponsored Programs 250 East Franklin Street Chapel Hill NC 27514 566001393 501(c)(3) 73688 0 Research University of South Florida 4202 East Fowler Avenue Tampa FL 33620 593102112 501(c)(3) 112045 0 Research University of Washington 22 Odegard Seattle WA 98195 916001537 501(c)(3) 40557 0 Research Virginia Polytechnic Institute and State University 300 Turner Street NW Blacksburg VA 24061 546001805 501(c)(3) 29782 0 Research 13 0 Undergraduate scholarships 2040 44485046 0 Graduate scholarships 32 68352 0 Graduate remissions 762 13492656 0 Undergraduate remissions 170 1090946 0 Graduate awards 184 592834 0 Undergraduate awards 303 755984 0 Schedule I, Part I, Line 2 PRE-AWARD SUBRECIPIENT MONITOR: Federal awards are identified by informing each subrecipient of CFDA title and number, award name and number, award year, and name of Federal agency. If any of this information is not available, the pass-through entity shall provide the best information available to describe the Federal award. The subrecipient is advised of requirements imposed by governing laws, regulations, and provisions of contracts or grant agreements and supplemental requirements imposed by the pass-through entity. The subrecipients' activities are monitored to ensure awards are used for authorized purposes in compliance with laws, regulations, and the provisions of contracts or grant agreements and performance goals are achieved. Assurance is ascertained that any sub recipient expending $750,000 or more in Federal awards during the subrecipient's fiscal year must meet the audit requirements of Uniform Grant Guidance (formerly OMB A-133). A management decision on audit findings must be issued within six months after receipt of the subrecipient's audit report and ensure that the subrecipient takes appropriate and timely corrective action. A determination is made as to whether subrecipient audits necessitate adjustment of the pass-through entity's own records. Each subrecipient is required to permit the pass-through entity and auditors to have access to the records and financial statements as necessary for the pass-through entity to comply with this part. POST-AWARD SUBRECIPIENT MONITORING: The Principal Investigator (PI) or Program Director (PD) is responsible for monitoring the activities. The subrecipient submits progress reports, technical reports and other deliverables to the PI/PD by specified due dates. The PI/PD is responsible for forwarding copies of the subrecipient's report(s) to the Office of Sponsored Programs and Research (OSPR). Subrecipient invoices submitted to the university must contain the following information: invoice must be on subcontractor's letterhead, date of invoice, invoice number, period of performance covered by the invoice, itemized description of services and backup documentation, current period costs, including cost sharing, cumulative project costs, sub recipient contact person with respect to invoice, invoice must be signed by an authorized official of the subcontractor, invoice must contain a certification that all payments requested are for appropriate purposes and in accordance with the agreements set forth in the application and award documents. The PI/PD is responsible for reviewing and approving invoices from subrecipient(s) for adherence to the budget. The signature of the PI/PD on the invoice indicates that the review has taken place and that the invoice adheres to budget. Grant Accounting reviews the subrecipient's invoice(s) for the following: period of performance is within the contract period, appropriate invoice format and level of detail, signatures of the PI/PD, certification of signature by authorized subrecipient representatives, funds are available in contract, and cost share documentation is provide, if applicable. Grant Accounting is responsible for ensuring that sub recipients that expend $750,000 or more of Federal funds each fiscal year submit an Audit Certification Letter. The following is required to close out a subrecipient award: receipt of final invoice, receipt of cost share documentation, if applicable, time and effort certifications, final progress and technical reports, annual audit certification letter. Grant Accounting is responsible for tracking payments made to individuals or organizations and where payments are made when out of the US as required by the Schedules F and I - Form 990. EDUCATIONAL ASSISTANCE: Educational assistance is awarded based on financial need and merit. Need based assistance is awarded after review of the student's FAFSA, tax return information, W-2 statements, and other relevant financial documents. Students are required to maintain satisfactory academic progress in order to continue to be eligible for need based assistance. Students' Grade Point Averages and earned units are reviewed each academic year to ensure satisfactory academic progress is achieved. Merit based educational assistance is awarded to students via Committee. Students who are awarded merit based assistance are required to maintain satisfactory academic progress in accordance with the terms of the assistance received. Need and merit based educational assistance are funded directly to the student's accounts receivable balance to offset tuition, fees, and room and board. Any resulting refunds are issued to the student. Students may be granted research awards by their academic departments and in such cases work with faculty advisors who monitor the research performed by the student. X X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 David Angel Officer 326231 0 35000 0 0 0 26500 0 21003 0 408734 0 0 0 Julie Dolan Officer 289757 0 10000 0 0 0 26500 0 19245 0 345502 0 0 0 John Foley Officer 152129 0 0 0 0 0 15014 0 318 0 167461 0 0 0 Davis Baird Key Employee 255732 0 0 0 0 0 25216 0 424 0 281372 0 0 0 Nancy Budwig Key Employee 197074 0 0 0 0 0 6067 0 16301 0 219442 0 0 0 Paula David Key Employee 238566 0 0 0 0 0 24313 0 10162 0 273041 0 0 0 William Fisher Key Employee 196052 0 0 0 0 0 19502 0 917 0 216471 0 0 0 Jeffrey Hite Gillooly Key Employee 169805 0 0 0 5152 0 15288 0 10929 0 201174 0 0 0 Matthew Malsky Key Employee 152475 0 0 0 0 0 15132 0 209 0 167816 0 0 0 Pennie Turgeon Key Employee 176245 0 0 0 0 0 17773 0 45545 0 239563 0 0 0 Denise Darrigrand VP for Student Affairs & Dean of Students 68651 0 0 0 117439 0 6802 0 12592 0 205484 0 0 0 Deborah Dwork Faculty 199678 0 0 0 0 0 18445 0 352 0 218475 0 0 0 Robert Johnston Faculty 193653 0 0 0 0 0 17018 0 18317 0 228988 0 0 0 Jonathan Kappel Exec Director of Principal Gifts 204368 0 0 0 0 0 20569 0 3611 0 228548 0 0 0 Catherine Usoff Dean of Graduate School of Management 235887 0 18433 0 0 0 23834 0 16684 0 294838 0 0 0 Schedule J, Part I In FY15, the University entered into a deferred compensation agreement with President David Angel. Payment to President Angel is at the discretion of the Board of Trustees and payable at the conclusion of six years from the date of the agreement. If the Board approves payment, the maximum amount attributable to FY16 would be $50K. Schedule J, Part I, Line 1a Jocelyne Bauduy, wife of President David Angel, travels on bona fide business trips in her position as Special Assistant to the President. President David Angel is required to live in a house owned by the University. No value was included in compensation. David Angel, Davis Baird and Jeff Gillooly have memberships at the Worcester Club for the purpose of University related entertaining. Schedule J, Part I, Line 4 Denise Darrigrand - $117,438 Schedule J, Part I, Line 7 All bonuses listed in Schedule J are performance based. A Massachusetts Development Finance Agency 043431814 57583RUU7 2008-04-07 50255000 See Part VI. 0 0 0 B Massachusetts Development Finance Agency 043431814 57583UJY5 2011-12-01 20098799 See Part VI. 0 0 0 C Massachusetts Development Finance Agency 043431814 PRIVATE00 2015-10-01 17895000 See Part VI. 0 0 0 A 10965000 849165 50334445 0 0 0 273558 78412 0 0 0 0 2009 1 0 1 1 B 3355000 0 20099208 0 0 0 253048 0 0 5616353 14229806 0 2013 1 0 1 1 C 285000 0 17895000 0 0 0 152148 0 0 2849181 14717047 176624 0 0 0 1 A 0 0 1 0 0 0.0023 0 0.0023 1 0 1 B 0 0 0 0 0 0 0 1 0 1 C 0 0 0 0 0 0 0 1 0 1 A 0 0 1 1 1 1 Barclay's 30 0 0 0 0 0 B 0 1 0 1 0 0 0 0 0 C 0 1 0 1 0 0 0 0 0 A 1 B 1 C 1 Schedule K, Part I, Column f-04/07/2008 50,255,000 Massachusetts Development Finance Agency Refund MDFA2000 (OID: 11/2/00), refund MDFA02A (OID: 11/26/2002), refund MDFA02B (OID: 11/26/2002), construct and equip library. Schedule K, Part I, Column f-12/01/2011 20,098,799 Massachusetts Development Finance Agency Refund MDFA1998 (OID: 11/10/98), finance the construction, renovation, and/or equipping of certain facilities of the Institution and to pay the costs of issuing the bonds. Schedule K, Part I, Column f-10/01/2015 17,895,000 Massachusetts Development Finance Agency Refund MDFA2005 (OID:11/03/2005), Capital repairs and improvements to the campus, acquisition of technology and data network equipment for use on campus and payment of issuance costs. Schedule K, Part IV, Line 2c-04/07/2008 50,255,000 Massachusetts Development Finance Agency MDFA2008 rebate computation performed 4/7/16. Schedule K, Part IV, Line 2c-12/01/2011 20,098,799 Massachusetts Development Finance Agency MDFA2011 rebate calculation performed 12/01/15. Schedule K, Part IV, Line 2c-10/01/2015 17,895,000 Massachusetts Development Finance Agency MDFA2015 rebate calculation performed 8/31/16. FERPA 1 student FERPA-excluded 12000 student merit grant educational grant Christopher Cannon Employee is the son of K. Cannon, Officer. 60609 Compensation for position of Mail and Delivery Supervisor 0 Jocelyne Bauduy Employee is the wife of President David Angel 25954 Compensation for the position of Special Assistant to the President's office. 0 Eric Epstein Trustee and Director Davidson Kempner 101110 Clark has an investment in funds managed by Davidson Kempner and paid management fees of approximately $101,110 to the partnership. 0 William S Mosakowski Former trustee, contributor, ownership interest in excess of 5% in Public Consulting Group 417120 Public Consulting Group purchases educational programs from Clark's Graduate School of Management for their employees. Mr. Mosakowski has an ownership interest in excess of 5% in PCG. 0 X 30 2060111 market value X Endowment held by Community Foundation 1 1266297 Community Foundation valuation 0 0 1 0 Form 990, Part VI, Section A, Line 2 Two of Clark's Trustees are related. Robert Stevenish and Robert Stevenish II are father and son. Form 990, Part VI, Section A, Line 7a Members of the Clark University Board of Trustees are responsible for the election of trustees for vacant positions. Alumni Association members elect for the Alumni trustees positions for the University Board. Form 990, Part VI, Section B, Line 11b The Audit Committee of the Board of Trustees was authorized and requested to review the administration's draft responses to the form 990. This was completed at the January 30, 2017 meeting of the committee. The Board has authorized the submittal to the Internal Revenue Service with the approval of the Audit Committee. In addition, a draft of the 990 is posted on the trustee web page and each member is notified of the opportunity to review before submission. Form 990, Part VI, Section B, Line 12c Each trustee, senior administrator and faculty member is required to complete annually a conflict of interest disclosure form. Faculty forms are reviewed by the Grants Office within the Office of Academic Affairs. Trustees and senior administrators' disclosures are reviewed by the Assistant Secretary of the Corporation and the Executive Vice President, who is also the Treasurer of the Board of Trustees. Form 990, Part VI, Section B, Line 15 Periodically, the Chairman of the Board of Trustees requests the Executive Vice President to provide comparable institution compensation data . Data is obtained from a combination of information disclosed in the Chronicle of Higher Education and from salary surveys, including those available from the College and University Personnel Association (CUPA). These data are submitted directly without editing. The Board Chair advises the full Board of Trustees of the compensation level of the President. The University also engages a professional compensation consultant and has established an Executive Compensation Committee. The Committee, which meets annually, is charged by the full Board of Trustees with establishing the President's compensation with the assistance of the consultant, who develops appropriate performance metrics and collects comparable institutional survey data. Form 990, Part VI, Section C, Line 19 Clark University's governing documents, conflict of interest policy and financial statements are all considered public documents. The governing documents, including the provisions of Jonas Clark's will, the by-laws of the University and the Articles of Incorporation are available for viewing in Goddard Library and are also publicly available as a result of several public debt issuances through the Massachusetts Development Finance Agency (MDFA). Financial statements are similarly available and are also posted on the University's website and through Guidestar. The conflict of interest policy is available upon request from the Board of Trustees office and the Office of Sponsored Programs and Research. Form 990, Part XI, Line 9 Change in value of interest rate swap -$448,343. Change in value of split interest agreement -$220,221. Change in beneficial interest in outside trust -$55,957. Student loan activity-net $3,410. Change in post-retirement health obligation -$43,955. Change in value of other assets $84,522. Transfer capital contribution to Related Organization-Jonas Realty Corp. -$9,516,583. Jonas Realty Corp 950 Main Street Worcester MA 01610 475234687 Support the Trustees of Clark University and similar nonprofit entities under Section 501(c)(3). MA 501(c)(3) 11c III FI Trustees of Clark University 0 Charitable Remainder Trust (24) 950 Main Street Worcester MA 01610 Charitable Trust MA N/A T 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Jonas Realty Corp b 9516583 Value of assets transferred as a capital contribution. Jonas Realty Corp d 9700000 Original principal on four loans. In order to file a complete and accurate return additional time was necessary to gather and receive all information.