2017-02-02T09:13:54-07:00 2016-06-30 990 2015-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 Grapevine Road Wenham MA 01984 Michael Ahearn Vice President for Finance 9788674038 2016-11-11 2015 2021-01-29 14:40:06Z D Michael Lindsay Gordon College 255 Grapevine Road Wenham MA 01984 106272324 0 X www.gordon.edu X 1889 MA Gordon College strives to graduate men and women distinguished by intellectual maturity and Christian character, committed to lives of service and prepared for leadership worldwide. 30 27 929 44 0 0 9284257 11216669 77738922 79247541 2003239 1457399 134492 -840582 89160910 91081027 24006933 25992557 0 0 38180121 37298364 0 0 3201863 25990493 25475597 88177547 88766518 983363 2314509 118852324 117733930 50256374 49970203 68595950 67763727 Gordon College's primary responsibility is to prepare students for the long haul, to make them spiritually, intellectually, relationally and professionally ready for a lifetime of growth - from the first job out of college and beyond, into fields not yet existing. Our mission is to the foundation of all we do as we inspire the next generation toward faithful leadership for the common good. 0 0 59308432 25944987 60051385 Higher Education: Our largest program service is providing education and instruction to individuals giving them an opportunity to earn a degree. Gordon College is the only nondenominational Christian liberal arts college in New England. It offers 38 majors and confers 3 separate undergraduate degrees; Bachelor of Arts, Bachelor of Science and Bachelor of Music. Undergraduate enrollment of approximately 1694 students is drawn from 39 states and 55 countries. In 2015-16, Gordon College issued 397 undergraduate degrees (with a six-year graduation rate of 69%). Gordon had a faculty to student ratio of 13 to 1 with 68% of the students from outside Massachusetts. Of the 101 full-time faculty, 87% have earned doctorates. Gordon College students can take advantage of a wide variety of off-campus programs, both domestic and abroad. During 2015-16, 136 students participated in off-campus programs and short-term international seminars. 17370369 0 17402707 Auxiliary programs related to the educational process for dormitory housing, food service, bookstore, La Vida outdoor experience, balance and mobility center, summer athletic camps and other summer programs. There were 1423 resident students in the fall semester 2015 and 1341 in the spring semester 2016. 1206437 47570 1793449 Higher Education: Gordon College has graduate programs in education, music education, and leadership conferring degrees in Masters of Education, Masters of Music Education, and Master of Arts in Leadership. In 2015-16, the total of unduplicated graduate students was 649 drawn from 20 states and 18 countries. Gordon College conferred 100 masters' degrees in 2015. 0 0 0 77885238 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 1 0 1 1 0 0 0 1 1 0 0 0 1 310 0 1 929 1 0 1 IT 0 0 0 1 1 0 0 0 0 X 30 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberlie Mather 9788674883 Gordon College 255 Grapevine Road Wenham MA 01984 Kurt Keilhacker Trustee 2 0 X 0 0 0 Herman J Smith Jr Chairman of the Board 5 0 X 0 0 0 Bradford Warner Treasurer and Clerk 5 0 X 0 0 0 David Beatty Trustee 2 0 X 0 0 0 Timothy Breene Trustee 2 0 X 0 0 0 David Cameron Trustee 1 0 X 0 0 0 Daniel Cho Trustee 1 0 X 0 0 0 Dr Judith M Dean Trustee 1 0 X 0 0 0 Laura Fastie-Grapshi Trustee 1 0 X 0 0 0 Lisa Forkner Trustee 2 0 X 0 0 0 Dr Marla Frederick Trustee 1 0 X 0 0 0 Dr John M Gurley Trustee 1 0 X 0 0 0 Gordon T Hall Trustee 1 0 X 0 0 0 Cherie S Harder Trustee 1 0 X 0 0 0 Peter Herschend Trustee 1 0 X 0 0 0 Dr Stuart Knechtle Trustee 1 0 X 0 0 0 Rev Raymond Lee Trustee 1 0 X 0 0 0 Bronwyn Loring Assistant Clerk 5 0 X 0 0 0 Rev Dr Roberto Miranda Trustee 1 0 X 0 0 0 Barry Rowan Trustee 1 0 X 0 0 0 Rev Samuel Schreiner III Trustee 1 0 X 0 0 0 Santiago Sedaca Trustee 1 0 X 0 0 0 Mary M Shahian Trustee 1 0 X 0 0 0 Aaron Shin Trustee 1 0 X 0 0 0 Dr Carrie Tibbles Trustee 2 0 X 0 0 0 Myron Ullman Vice Chair 5 0 X 0 0 0 Kirk Ware Trustee 1 0 X 0 0 0 Suannah Young Trustee 1 0 X 0 0 0 Foster Chase Trustee 1 0 X 0 0 0 Dr Dorothy Chappell Trustee 1 0 X 0 0 0 David Wright Trustee 1 0 X 0 0 0 Thomas Phillips Trustee 1 0 X 0 0 0 D Michael Lindsay President 60 0 X 209210 0 67505 Michael Ahearn Vice President for Finance and Administration 60 0 X 156465 0 43653 Janel Curry Provost 60 0 X 155013 0 22317 Daniel Tymann Executive Vice President 60 0 X 155532 0 24130 Paul Edwards Senior Vice President for Advancement 60 0 X 125891 0 11408 Stanley Gaede Scholar in Residence 60 0 X 119839 0 20102 James Pocock Counselor to the President 60 0 X 124797 0 21768 Janet Arndt Director of Graduate Program in Education 60 0 X 117865 0 12936 David Lee Professor of Physics 60 0 X 109735 0 22274 Richard Sweeney Vice President for Marketing & Strategic Communications 60 0 X 119544 0 91091 1393891 0 337184 14 0 1 0 Carr Enterprises LTD 10 Dearborn Road Suite 3C Peabody MA 01960 Building Renovation 1348374 Wellington Trust Company 75 State Street Boston MA 02109 Investment Management 221885 Grant Thornton LLP 33960 Treasury Center Chicago IL 60694 Auditing 141704 Ruffalo Noel Levitz LLC PO Box 718 Des Moines IA 503030718 Financial Aid Consultant 127769 Paul Edwards 5453 Wolf Point Trail Morrison CO 80465 Interim Advancement Supervision 122000 7 0 0 1679007 0 437461 9100201 3976816 11216669 Tuition and Fees 611310 61042339 61042339 0 0 Residence Hall Revenue 611310 10041430 10041430 0 0 Board 611310 3994981 3994981 0 0 Summer Programs 611310 789373 789373 0 0 Balance and Mobility Center 621340 707093 707093 0 0 2672325 2672325 0 0 79247541 792991 0 0 792991 0 0 0 0 0 0 0 0 156418 0 0 0 156418 0 156418 0 0 156418 14813135 3000 14151727 0 661408 3000 664408 0 0 664408 42570 1679007 1039570 -997000 0 -997000 0 91081027 79247541 0 616817 0 0 22891093 22891093 3101464 3101464 0 0 1056204 0 773151 283053 135996 112996 3000 20000 26959826 20336623 5121069 1502134 234087 173202 46652 14233 7029020 5081289 1479604 468127 1883231 1359501 395246 128484 0 0 0 0 234240 0 234240 0 159016 0 159016 0 0 0 0 0 0 0 220415 0 220415 0 4304187 2803209 1412911 88067 178117 74831 3114 100172 2599409 1668367 749615 181427 1382377 683749 683914 14714 0 0 0 0 4464339 4306660 131070 26609 3060763 2704166 245908 110689 0 0 0 0 33153 26262 5040 1851 0 0 0 0 0 0 0 0 5747558 5403402 311121 33035 308452 109831 195612 3009 Allocation of Physical Plant 0 4361622 -4377952 16330 Food Service 1882687 1882687 0 0 Special Events 606085 327119 80667 198299 Student Organizations 227493 227493 0 0 67306 249672 -193996 11630 88766518 77885238 7679417 3201863 1310966 721062 94232 46607 7341423 6740973 1806955 1557187 0 60000 0 0 0 0 69908 80929 826896 707587 167568373 105361964 63514514 62206409 8814526 8832002 30934958 32570187 3170575 3294110 0 0 967371 916877 118852324 117733930 1248100 1285947 0 0 2043437 1977674 36580000 35455000 365145 362038 0 0 1125295 611881 0 0 8894397 10277663 50256374 49970203 X 25880027 25287215 16616294 14453029 26099629 28023483 68595950 67763727 118852324 117733930 X 2314509 -1641055 0 0 0 -1505677 X 0 1 1 1 1 X 11043241 5511270 8552250 9284257 11216669 45607687 0 0 0 0 0 0 0 0 0 0 0 0 11043241 5511270 8552250 9284257 11216669 45607687 6152439 39455248 691323 760120 851227 779533 949409 4031612 0 0 0 0 0 0 25830 24288 25400 0 42570 118088 49757387 360515106 0.79295 0.7583 X Schedule A, Part II, Line 10 The other income is gross income from fundraising events. See Part VIII, line 8a. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 88766518 88766518 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 0 0 0 0 0 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X 0 0 1 X 44316144 1792579 -392561 1007849 542126 0 44166187 44008437 1006476 780514 964018 515265 0 44316144 37938929 1765931 5736994 956192 477225 0 44008437 35861856 289673 3213517 998888 427229 0 37938929 32872995 5090612 -694943 792960 613848 0 35861856 0.2476 0.6345 0.1179 0 0 0 1833672 1833672 0 126026541 69260068 56766473 0 0 0 0 0 28403606 25741142 2662464 0 11304554 10360754 943800 62206409 0 32570187 F 32570187 0 Conditional Asset Retirement Obligation 385994 Fair Value Interest Rate Swap 6323077 Perkins Advances 2621949 Annuity Payment Obligations 946643 10277663 X 64484673 -1641055 0 0 1227603 -413452 64898125 220415 25962487 26182902 91081027 65316896 0 0 0 2809816 2809816 62507080 220415 26039023 26259438 88766518 Schedule D, Part III, Line 1 Collections, which were acquired through purchases and contributions since the College's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Schedule D, Part III, Line 4 Occasionally the College receives gifts of art or collectibles which are put on display in various buildings throughout the campus. We also maintain library archives of College historical documents and book collections kept for posterity. Schedule D, Part IV, Line 2b The College maintains custodial or "pass through" accounts for Federal student loans, Pell grant and state grants. Funds are held in these accounts until distributed to individual students. The College also maintains custodial accounts for student government and student ministry groups and activities. Schedule D, Part V, Line 4 The intended use of endowment funds is driven by donor restrictions on our endowments. Approximately 66% of appropriated revenues this year were in scholarship awards. 18% of revenues supported general activities and physical plant. The remaining 16% was allocated to instructional activities and academic support programs. Distributions of income are made using a total return method. We use a spending rate of 4.25% of the 3 year rolling average of the fair market value of the investments. Schedule D, Part X, Line 2 FIN 48 Footnote: The College follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The College is an organization described in Section 501(c)(3) of the Internal Revenue Code, as amended (the Code), and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The College is responsible for the maintenance of its tax-exempt status; identifying and reporting unrelated income; determining its filing and tax obligations in jurisdictions for which it was nexus; and identifying and evaluating other matters that may be considered tax positions. The tax years ended June 30, 2013, 2014, and 2015 are still open to audit for federal and state purposes. The College has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Schedule D, Part XI, Line 2d This figure includes the FWS apportionment budget allocation of 188,033 included in income on the financial statements and special events expenses of 1,039,570 included in expense on the financial statements. Schedule D, Part XI, Line 4b Included here are: scholarships and grants of 25,525,026 treated as tuition discount on the financial statements; FSEOG and FWS of 437,461 treated as pass through activity on the financial statements and not reflected in income. Schedule D, Part XII, Line 2d This figure includes: FWS apportionment budget allocation of 188,033 included in income on the financial statements; special events expenses of 1,039,570 included in expense on the financial statements; change in fair value of interest rate swap agreements of 1,582,213. Schedule D, Part XII, Line 4b - Included here are: scholarships and grants of 25,525,026 treated as tuition discount on the financial statements; FSEOG and FWS of 437,461 treated as pass through activity on the financial statements and not reflected in expense; change in fair value of split interest agreements of $76,536. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Given the technology available today, we have invested in our web site as the way to reach the most students. Our racially nondiscriminatory policy is posted on our web site. Our promotional activities and recruiting efforts in each geographic area are designed to inform students of all racial segments interested in a Christian college of the availability of Gordon College. Schedule E, Part I, Line 6 Gordon College receives Title IV funds for aid to students from the Department of Education for Federal Work Study, FSEOG, Federal Pell grant and other Federal student aid grant programs. 1 Central America and the Caribbean 0 0 Grantmaking 112300 South Asia 0 0 Grantmaking 303771 Middle East and North Africa 0 0 Grantmaking 49100 Sub-Saharan Africa 0 0 Grantmaking 366802 East Asia and the Pacific 0 0 Grantmaking 1822285 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 102205 South America 0 0 Grantmaking 345001 Europe (including Iceland and Greenland) 1 26 Program Services We offer semester based programs in Italy, France and the Balkans. Expenditures are reported using accrual based accounting. Employee compensation is processed through our campus payroll system. Other program costs are managed by the program directors. Funds are wired periodically at the request of the program leaders and approved by the Global Education administrator. The program leaders pay local expenses. Expense documentation is submitted to the Controller's Office for review. Costs recorded at the time of the wires are for tuition, room, board and incidentals of the students. We also offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 2151944 Central America and the Caribbean 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 58611 South Asia 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 19334 Middle East and North Africa 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 153238 Sub-Saharan Africa 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 113498 East Asia and the Pacific 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 240103 South America 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 49681 Europe (including Iceland and Greenland) 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 500 East Asia and the Pacific 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 17714 Sub-Saharan Africa 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 8912 Europe (including Iceland and Greenland) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 52216 Central America and the Caribbean 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 82948 Sub-Saharan Africa 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 17884 East Asia and the Pacific 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 4828 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 19903 South America 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 1118 Russia and the newly independent States 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 500 East Asia and the Pacific 0 0 Fundraising 8271 Europe (including Iceland and Greenland) 0 0 Fundraising 55892 East Asia and the Pacific 0 0 Program Services The President traveled on behalf of the College for student recruitment and program development. 37555 South America 0 0 Program Services The President traveled on behalf of the College for student recruitment and program development. 14971 1 26 6211085 Scholarships and grants Central America and the Caribbean 5 112300 credit to student bill 0 Scholarships and grants South Asia 11 303771 credit to student bill 0 Scholarships and grants Middle East and North Africa 2 49100 credit to student bill 0 Scholarships and grants Sub-Saharan Africa 14 366802 credit to student bill 0 Scholarships and grants East Asia and the Pacific 87 1822285 credit to student bill 0 Scholarships and grants North America (including Canada and Mexico, but not the United States) 6 102205 credit to student bill 0 Scholarships and grants South America 13 345001 credit to student bill 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 Grants and scholarships to international students are treated as tuition discounts and are applied as accounting credits on each student's bill. They are not paid directly to the student. Merit scholarships are awarded based on academic criteria and are renewed annually based on satisfactory GPA requirements that are verified by the Registrar's Office. Donated scholarship funds are awarded based on criteria provided by donors. Specific eligibility is verified annually by the Registrar's Office, Admissions and the Financial Aid Office. Need based grants are awarded based on the student's determined financial need. The College uses information provided by the CSS Profile of the College Board. The grant amount is carried forward from year to year unless there is a significant change in determined financial need. X X X X X X X 1 Westfall Group Inc 1300 Peachtree Industrial Blvd STE 3216 Suwanee GA 30024 Provided event planning services such as invitation lists, printing, mailing, entertainment and presentation materials for the President's Convocation event as well as consulting on major donor strategies. 0 1027000 159400 867600 1027000 159400 867600 All States President's Convocation 1027000 1027000 0 0 0 124145 135332 139055 219946 Celebration of Faithful Leadership 694577 652007 42570 0 0 20000 105371 15000 280721 0 1721577 1679007 42570 0 0 144145 240703 154055 500667 1039570 -997000 Schedule G, Part I, Line 2b The Westfall Group Inc. contract specifically states that they will invoice separately for all travel expenses, video acquisition expenses, printing, postage, shipping, mailing and fulfillment. The College paid $39,497 in expenses to Westfall Group Inc. The contract also states that they will not at any time solicit funds, assets, or property for charitable purposes, receive or control funds, assets or property solicited for charitable purposes or employ, procure, or engage any compensated person to solicit, receive, or control funds, assets, or property for charitable purposes. Schedule G, Part II, Line 3 Schedule G, Part II, Column a, President's Convocation Event: The purpose of the President's Convocation was to introduce potential substantial donors to Gordon College and to explain our mission and vision. Potential donors were not required or obligated to pay any amount to attend the event. The amount reported $1,027,000 on Part II, Lines 1 and 2 is directly attributable to donors who attended this event and subsequently made a donation to the College. 1 Scholarships and grants to Gordon College students 1532 22423562 0 Federal SEOG grants 349 162460 0 Federal Work-Study Awards 363 206033 0 Federal Teach Grant 19 68968 0 Center for Faith and Inquiry Fellowship Award 4 15070 0 AJG Mission Fellowship Award 5 5000 0 Invitation to Leadership Award 3 10000 0 Schedule I, Part I, Line 2 Gordon College awards three types of grants/scholarships: merit scholarships, need-based grants and endowment funded restricted scholarships. Merit scholarships are awarded based on the incoming student's academic criteria determined by the Admissions Office. These scholarships are renewed annually by verification of the Registrar's Office that cumulative GPA requirements are met. Need-based grants are awarded based on the student's determined financial need. We determine financial need using information provided by the FAFSA. We practice level-funding of the need-based grants to future years unless there is a significant change in determined financial need. Endowment funded restricted scholarships are awarded based on criteria established by donors. The criteria information on specific eligible students is provided by the Registrar, Admissions and Financial Aid Offices. Students are evaluated annually to verify they continue to meet the donor criteria for an endowment award. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 D Michael Lindsay President 208296 0 0 0 914 0 7333 0 60172 0 276715 0 0 0 Michael Ahearn Vice President for Finance and Administration 154538 0 0 0 1927 0 5300 0 38353 0 200118 0 0 0 Daniel Tymann Executive Vice President 150829 0 0 0 4703 0 5462 0 18668 0 179662 0 0 0 Janel Curry Provost 153965 0 0 0 1048 0 5365 0 16952 0 177330 0 0 0 Richard Sweeney Vice President for Marketing & Strategic Communications 118909 0 0 0 635 0 4223 0 86868 0 210635 0 0 0 Schedule J, Part I, Line 1a Travel for companions: Occasionally spouses of officers accompany them on business trips for the College. In order to be treated as a working condition fringe benefit, the College requires substantiation of the trip as a bonafide business expense for both the officer and the spouse. If there is no business purpose for the spouse, the spousal travel is treated as taxable income to the officer or the officer reimburses the College. Housing allowance or residence for personal use: One listed person received this benefit. The President is required to live in on-campus housing for hosting purposes and 24/7 availability to the campus community. Because of this requirement, it is excluded from wages under Section 119 of the IRS code. The housing value included in non-taxable compensation was $36,836. Health or social club dues or initiation fees: One listed person received this benefit. The President is required by the Board to have a Harvard Club membership provided by the College. It was used for business purposes only and none of it was treated as taxable compensation. A Massachusetts Development Finance Agency 043431814 2013-02-19 38480000 Refund prior issue (issued 10/31/2012) 0 0 0 A 0 0 38480000 0 0 0 0 0 0 0 38480000 0 2012 1 0 1 1 A 0 0 1 1 0 0.00759 0 0.00759 0 0 1 A 0 0 1 0 1 1 RBS Citizens Bank NA 10 0 0 0 0 1 A 1 Schedule K, Part II, Line 6-02/19/2013 38,480,000 Massachusetts Development Finance Agency The balance of the escrow account was $0 as of the reporting date. An escrow account was used at the time of the issuance until 11/16/2009 per the bond agreement. Schedule K, Part IV, Line 3-02/19/2013 38,480,000 Massachusetts Development Finance Agency The College has multiple interest rate swap agreements, with terms (in years) 10, 20, 26.2, 10, and 19 for the $30,000,000 issuance and terms (in years) 10, 20, 26.2, and 10 for the $10,000,000 issuance. Gordon College put in the longest swap term in line 3c, since we are only able to input one term. Schedule K, Part V-02/19/2013 38,480,000 Massachusetts Development Finance Agency At the time of the 2009 bond issuance, written post-issuance compliance procedures had not been enacted. After June 30, 2012, the College did identify a violation of Federal tax requirements related to maintaining ownership of property purchased with bond proceeds. The College enacted post-issuance compliance procedures and subsequently went through the Voluntary Closing Agreement Program. A VCAP agreement has been approved by the IRS, thus resolving the issue. D Michael Lindsay President Premium split dollar life insurance arrangement X 60000 60000 0 1 1 60000 NA not required for colleges NA not required for colleges 184000 Scholarships and grants Merit scholarships Jonathan Tymann brother of Executive Vice President 110996 Employment compensation 0 Rebecca Lindsay Spouse of President 20000 Employment compensation 0 Schedule L, Part IV Two relatives of officers are also employed by Gordon College. X 2 0 NA X 2 0 cost of donated property X 45 1046816 fair market value on date of receipt X 4 2930000 appraisal X Piano 1 0 cost of donated property 1 0 1 0 Schedule M, Part I, Line 33 Institutional policy for works of art is to not record a gift value. We do not capitalize our collections as allowed under SFAS 116 (ASC 958-360-25). Lines 7 and 25: Revenues were not reported because the gifts were not given a value as appraisals were unavailable. Form 990, Part VI, Section A, Line 2 One of our trustees, David Beatty, is the CEO of Daintree Advisors. Another trustee, Mary Shahian is the Managing Director of Daintree Advisors. Trustee, Lisa Forkner's husband is also employed by Daintree Advisors. Form 990, Part VI, Section B, Line 11b The controller prepares the 990 and submits it for review to the Vice President for Finance and the President. The Form 990 is also reviewed by tax advisors from a national accounting firm. Once the Form 990 is approved by the President and Vice President, prior to filing with the Internal Revenue Service, the Form 990, as it will ultimately be filed, is provided to the board for review and approval. Form 990, Part VI, Section B, Line 12c An annual Disclosure Form delineating conflicts is distributed to all trustees at the annual board meeting and must be signed by each trustee. A copy is mailed to any trustee who is absent and must be signed and returned. Trustees must recuse themselves from any discussion of or vote on any issue involving conflicts of interest. Key employees and officers must also sign an annual conflict of interest form which clearly delineates conflicts of interest. The Vice President for Finance and Administration monitors and reviews the conflict of interest statements. The President's Office collects and maintains them. Form 990, Part VI, Section B, Line 15 The executive committee of the board serves as the compensation committee for the president's position. The executive committee is comprised of independent board members. CCC, CCCU and other peer institutions compensation studies of college presidents are reviewed by the committee and the salary is set by committee vote. The president has an annual review by the committee and is judged based on attainment of goals for the year. The president submits compensation comparability data to the committee for the provost, vice president for finance and executive vice president positions. Compensation increases and bonuses, if any, are based upon job performance and the independent studies. Minutes are kept of the process and the committee vote. The last review process took place in 2016. Form 990, Part VI, Section C, Line 19 Our governing documents are available upon request and on our public web site. Our conflict of interest policy is available on our public web site. Our financial statements are available upon request and copies are maintained in the College library. Form 990, Part XI, Line 9 Other changes in net assets include: Change in fair value of split interest agreements 76,536 Interest rate swap fair value adjustment (1,582,213) Gordon College Foundation 255 Grapevine Road Wenham MA 01984 222610484 Advise on land use MA 501(c)3 9 Gordon College 1 Charitable Remainder Trusts (3) NA NA NA MA 01984 Charitable gift MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0