2017-05-11T15:47:16-05:00 2016-06-30 910189318 Moss Adams LLP 3121 West March Lane Suite 200 Stockton CA 95219 990 2015-07-01 951664101 Claremont McKenna College CLAR 9096218043 500 E Ninth Street Claremont CA 91711 Mia Alonzo Controller 9096218043 2017-05-10 1 Tracy S Paglia P00366884 2099556100 2017-05-10 2015 2021-01-29 14:40:06Z Hiram Chodosh 500 E Ninth Street Claremont CA 91711 1222951123 0 X www.claremontmckenna.edu X 1946 CA CMC is an independent, residential, liberal arts college whose mission is to educate its students for responsible leadership in business, government, and the professions. 41 40 1867 159 -2823333 -2828980 39379296 34704925 82387373 87578305 31986655 11552927 1377613 1769430 155130937 135605587 20222136 21271473 0 0 55839287 57506641 0 0 5436862 52071730 67947614 128133153 146725728 26997784 -11120141 1281590869 1241791377 259279044 269197448 1022311825 972593929 X Claremont McKenna College is a highly selective, independent, coeducational, residential, liberal arts college. Its mission, within the mutually supportive framework of The Claremont Colleges, is to educate its students for thoughtful and productive lives and responsible leadership in business, government, and the professions, and to support faculty and student scholarship that contributes to intellectual vitality and the understanding of public policy issues. The College pursues this mission by providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 0 0 125345742 21271473 87383969 The College's primary exempt purpose is providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 125345742 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 2141 0 1 1867 1 1 1 1 CJ EI 0 0 0 0 0 0 0 0 X 41 40 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Mia Alonzo 9096218043 101 S Mills Ave Claremont CA 91711 Abbott L Brown Trustee 1.00 X 0 0 0 Akshata N Murty Trustee 1.00 X 0 0 0 Bruce A Soll Trustee 1.00 X 0 0 0 Carolyn B Kuhl Trustee 1.00 X 0 0 0 C Steven McGann Trustee 1.00 X 0 0 0 Christopher V Walker Trustee 1.00 X 0 0 0 David Dreier Trustee 1.00 X 0 0 0 David G Mgrublian Chair of Board of Trustees 1.00 1.00 X X 0 0 0 Douglas L Peterson Trustee 1.00 X 0 0 0 E David Hetz Vice Chair of the Board 1.00 X X 0 0 0 Fredric J Prager Trustee 1.00 X 0 0 0 G Jeffrey Records Jr Trustee 1.00 X 0 0 0 George R Roberts Trustee 1.00 X 0 0 0 Gregory Hinckley Trustee 1.00 X 0 0 0 Harry T McMahon Vice Chair of the Board 1.00 X X 0 0 0 Henry R Kravis Trustee 1.00 X 0 0 0 Hiram Chodosh President 40.00 3.00 X X 539351 0 151072 James B Bemowski Trustee 1.00 X 0 0 0 James B McElwee Trustee 1.00 X 0 0 0 Jeffrey S Klein Trustee 1.00 X 0 0 0 Jill Mullen Trustee 1.00 X 0 0 0 John C Pritzlaff III Trustee (thru 6/16) 1.00 X 0 0 0 John M Isaacson Trustee 1.00 X 0 0 0 Julie S Sweet thru 416 Trustee 1.00 X 0 0 0 Kenneth J Valach Trustee 1.00 X 0 0 0 Kenneth M Novack Trustee 1.00 X 0 0 0 Laura Grisolano Trustee 1.00 X 0 0 0 Michael Larson Trustee 1.00 X 0 0 0 Perry A Lerner thru 616 Trustee 1.00 X 0 0 0 Peter K Barker Vice Chair of the Board 1.00 X X 0 0 0 Rey Ramsey Trustee 1.00 X 0 0 0 Richard K Chino Trustee 1.00 X 0 0 0 Robert A Day Vice Chair of the Board 1.00 X X 0 0 0 Robert C Nakasone Trustee 1.00 X 0 0 0 Rossi Russell Trustee 1.00 X 0 0 0 Sue Matteson King Trustee 1.00 X 0 0 0 Shaw B Wagener Trustee 1.00 X 0 0 0 A Steven Crown Trustee 1.00 X 0 0 0 Steven L Eggert Trustee 1.00 X 0 0 0 Susan G Mirbach thru 616 Trustee 1.00 X 0 0 0 Thomas B Neff Trustee 1.00 X 0 0 0 Thomas C Leppert Trustee 1.00 X 0 0 0 Thomas M Mitchell Trustee 1.00 X 0 0 0 William F Podlich Trustee 1.00 X 0 0 0 Elyssa M Elbaz Trustee 1.00 X 0 0 0 Matthew Bibbens VP, Admin & Plan, General Counsel 40.00 1.00 X 242028 0 51579 Mia Alonzo Controller 4.00 20.00 X 0 139409 38319 Robin Aspinall VP, Bus & Admin, Treasurer 40.00 1.00 X 295808 0 31664 Ernest Iseminger thru 1215 VP for Development and External Relations 40.00 X 374926 0 45565 James Floyd VP and CIO 40.00 X 306852 0 64249 Jefferson Huang VP for Stu Aff, Adm, and Finacial Aid 40.00 X 264457 0 48102 John Faranda VP, Alumni and Parent Relations 40.00 X 194930 0 36536 Peter Uvin VP Acad Affairs & Dean of Faculty 40.00 X 173524 0 29237 Eric Hughson Faculty 40.00 X 319378 0 46330 Fan Yu Faculty 40.00 X 314288 0 50088 Lisa Meulbroek Faculty 40.00 X 311148 0 30464 Janet Smith Faculty 40.00 X 298966 0 42964 Heather Antecol Faculty 40.00 X 266930 0 54117 Nicholas Warner thru 615 Former Interim Dean of Faculty 0.00 X 266911 0 57473 Pamela Gann thru 613 Former President 0.00 X 233088 0 40314 4402585 139409 818073 138 1 1 0 PCL Construction Services Inc 500 N Brand Blvd Ste 1500 Glendale CA 91203 Construction 30398063 Del Amo Construction Inc 23840 Madison St Torrance CA 90505 Construction 8665794 Bon Appetit Inc PO Box 50196 Los Angeles CA 900740196 Food Service 2894121 EMCOR Services 2 Cromwell Irvine CA 92618 Maintenance 655090 Cambridge Associates LLC 13528 Collection Center Drive Chicago IL 60693 Consulting Services 637500 27 288131 34416794 5279873 34704925 Tuition & fees 611600 84782473 84782473 Private contracts 900099 1170284 1170284 Children sch. tuition 611710 668324 668324 Fed. grants & contracts 611600 623709 623709 Rental & catering 531390 254360 60024 194336 79155 79155 87578305 2325841 -2823333 5149174 54 54 417 417 878450 320331 558119 558119 558119 1096252237 1087025205 9227032 9227032 9227032 Miscellaneous income 900099 1073136 1073136 Vending, store & laundry 453000 137758 137758 1210894 135605587 87383969 -2823333 16340026 21271473 21271473 3078813 733337 1404074 941402 818274 818274 41512320 36006330 3346079 2159911 4058264 3496018 366163 196083 5144413 4284195 518389 341829 2894557 2389488 332597 172472 216000 201896 10166 3938 393778 3718 390060 273383 2909 270474 2230919 2230919 4088680 2872639 1003641 212400 1021877 611927 227354 182596 3304181 2455058 562397 286726 1588757 1245279 223962 119516 3309963 3147692 122456 39815 4602265 3954111 365858 282296 1843399 1261362 364471 217566 3413778 3265331 107000 41447 9875146 6583382 3270809 20955 7979590 7525181 327536 126873 472488 407357 40277 24854 Loss on bond defeasance 15909090 15909090 Food & housing 2824700 2813686 7939 3075 Building repair 2093227 1992874 73903 26450 Change in pledge allowa 1253432 1253432 1252961 839703 376600 36658 146725728 125345742 15943124 5436862 1420188 898097 27688773 30528956 146635844 125380339 5981972 6425914 245841 217403 0 33316 7729858 5559890 379349717 95931291 249455381 283418426 502047238 492558540 329118361 285966432 10368312 9627939 899101 1176125 1281590869 1241791377 20432851 14157809 2155188 1977721 178565515 196057278 824359 1346246 57301131 55658394 259279044 269197448 X 262517609 258922500 429089052 334980357 330705164 378691072 1022311825 972593929 1281590869 1241791377 X -11120141 -37296009 -1301746 X 0 1 X 1 1 1 X 71256118 30959801 25735835 39379296 34704925 202035975 71256118 30959801 25735835 39379296 34704925 202035975 51233702 150802273 5304588 8575134 9428759 8177225 6028095 37513801 1132341 961083 943030 1072289 1210894 5319637 244869413 398717362 0.61580 0.59810 X Schedule A, Part II, Line 10, Explanation of Other Income: OTHER INCOME - 2011 Amount: $ 1,132,341. 2012 Amount: $ 961,083. 2013 Amount: $ 943,030. 2014 Amount: $ 1,072,289. 2015 Amount: $ 1,210,894. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 23861 23861 0 Part II-B, Line 1: Dues and memberships paid to organizations to lobby on the College's behalf. Also, to support the effort to reauthorize the Section 568 exemption from the anti-trust laws. 2500000 2715820 2500000 2715820 X X 0 803058963 8600608 -19499097 9349877 21109903 2959697 758740997 806882120 18075121 11151926 8802607 20261570 3986027 803058963 711903791 10404200 116565027 8065887 19829453 4095558 806882120 632470112 12135943 95707378 7539559 16752664 4117419 711903791 651200402 11476757 -922179 7393873 18066286 3824709 632470112 0.20720 0.47600 0.31680 0 0 5418978 5418978 315002290 66235656 248766634 19640659 8126925 11513734 33825086 21568710 12256376 5462704 5462704 283418426 Assets whose use is limited 3866538 F Private equity and venture capital 117506544 F Real Estate, Energy, & Timber 46792173 F Long/Short Equity 55145529 F Absolute Return Funds 62655648 F 285966432 Life income and Annuities payable 49389845 Funds held in trust 3668840 Government advance for student loans 1811847 Asset Retirement Obligation 787862 55658394 X 73955808 -37296009 -3254361 -40550370 114506178 2959697 18139712 21099409 135605587 123673695 870718 870718 122802977 2959697 20963054 23922751 146725728 Part III, Line 4: The College's works of art are held for public exhibition to enrich the teaching of art and humanities at the College. Part V, Line 4: The College uses the earnings of its endowment funds in accordance with donor restrictions. Where no donor intent is specified, the earnings fund the general operations of the College. Part X, Line 2: The College had no unrecognized tax benefits and/or obligations at June 30, 2016 and 2015. Part XI, Line 2d - Other Adjustments: Rental expenses reclassified to revenue 320,330. Actuarial adjustment -3,677,762. Staff retirement plan comprehensive loss 103,071. Part XI, Line 4b - Other Adjustments: Student aid, reclassified to expenses 20,963,045. Income from K-1's -2,823,333. Part XII, Line 2d - Other Adjustments: Rental expenses reclassified to revenue 320,330. Writeoff of pledge receivable 550,388. Part XII, Line 4b - Other Adjustments: Student aid, reclassified to expenses 20,963,045. Rounding 9. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The College's NonDiscrimination Policy is publicized in brochures and the catalog, and is accessible on the college website. Schedule E, Part I, Line 6 Claremont McKenna College participates in the Pell Grant, Supplemental Educational Opportunity Grant, College Work-Study, and Perkins Loan programs. Central America and the Caribbean 0 0 Investments 171422802 Europe 0 0 Investments 14584002 North America 0 0 Investments 281847 Sub-Saharan Africa 0 0 Investments 1837008 0 0 0 0 0 0 188125659 0 188125659 1 0 1 1 1 0 1 Financial Aid 723 21271473 Part I, Line 2: The College monitors the use of grant funds by verifying student enrollment records maintained by the Office of the Registrar and the Office of Student Accounts. Enrollment verification is performed prior to awarding of grant funds and throughout the academic year. The Office of Financial Aid monitors the College's compliance with grant agreement requirements throughout the academic year, and keeps current with compliance requirements by participating in professional development workshops and reviewing federal compliance updates from the Department of Education and NASFAA. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Hiram Chodosh President 459627 0 0 0 79724 0 64430 0 86642 0 690423 0 0 0 Matthew Bibbens VP, Admin & Plan, General Counsel 228688 0 0 0 13340 0 26377 0 25202 0 293607 0 0 0 Mia Alonzo Controller 0 133929 0 5000 0 480 0 14809 0 23510 0 177728 0 0 Robin Aspinall VP, Bus & Admin, Treasurer 290135 0 0 0 5673 0 29430 0 2234 0 327472 0 0 0 Ernest Iseminger thru 1215 VP for Development and External Rela 323575 0 0 0 51351 0 29430 0 16135 0 420491 0 0 0 James Floyd VP and CIO 304152 0 0 0 2700 0 29430 0 34819 0 371101 0 0 0 Jefferson Huang VP for Stu Aff, Adm, and Finacial Ai 253046 0 0 0 11411 0 28899 0 19203 0 312559 0 0 0 John Faranda VP, Alumni and Parent Relations 194885 0 0 0 45 0 21603 0 14933 0 231466 0 0 0 Peter Uvin VP Acad Affairs & Dean of Faculty 132991 0 0 0 40533 0 16090 0 13147 0 202761 0 0 0 Eric Hughson Faculty 310198 0 3000 0 6180 0 29430 0 16900 0 365708 0 0 0 Fan Yu Faculty 300670 0 2778 0 10840 0 29430 0 20658 0 364376 0 0 0 Lisa Meulbroek Faculty 306204 0 0 0 4944 0 29430 0 1034 0 341612 0 0 0 Janet Smith Faculty 294467 0 0 0 4499 0 29430 0 13534 0 341930 0 0 0 Heather Antecol Faculty 241901 0 19189 0 5840 0 27714 0 26403 0 321047 0 0 0 Nicholas Warner thru 615 Former Interim Dean of Faculty 233083 0 0 0 33828 0 29430 0 28043 0 324384 0 0 0 Pamela Gann thru 613 Former President 230108 0 0 0 2980 0 25344 0 14970 0 273402 0 0 0 Part I, Line 1a - Travel for Companions - The College pays for expenses for the President's spouse's travel as covered per contract with valid business reason. - Tax indemnification and gross-up payments - President's tuition remission benefits were grossed up which is allowable by his employment contract. - Housing allowance or residence for personal use - The College provides housing to the president as a condition of employment. - Health or social club dues - The College pays dues for the California Club for the sole purpose of conducting college business; no personal social activities are allowed. The value of the employer provided housing has been determined to meet the criteria of Sec 119 and is therefore reported as a non-taxable benefit. Because no personal social activities are conducted, the California Club dues are not included in taxable compensation. Part I, Line 4b Hiram Chodosh participates in a nonqualified deferred compensation plan under section 457(f). Contributions were made; however, no distributions have been made from the plan during the year. Part I, Line 7 Mia Alonzo received a one-time performance related bonus. A California Educational Facilities Authority 521705592 130179DN1 2015-12-03 123653806 See Part VI 0 0 0 B California Educational Facilities Authority 521705592 130178HT6 2007-05-31 42697442 See Part VI 0 0 0 C California Educational Facilities Authority 521705592 130178C95 2011-07-07 5908645 See Part VI 0 0 0 D California Educational Facilities Authority 521705592 130178T48 2012-11-28 34197474 See Part VI 0 0 0 A 123653806 1150406 122503400 0 1 1 1 B 2925000 25605000 44443284 595011 30007312 12132532 2009 1 1 1 1 C 500000 5908645 116290 5908645 2012 1 0 1 1 D 840000 34240036 459038 25816935 7964062 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 0 1 0 0 1 Hypo Public Finance 5.100000000000 1 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Date Rebate Computation Performed Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 05/31/2009 Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 07/07/2011 Schedule K Supplental Information Part I, column (f) Description of Purpose: Bond (a) - Refund the 2007 and 2009 bonds. Bond (b) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (c) - Refund a portion of Authority's Series 1999 bonds & pay certain bond costs. Bond (d) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (e) - Finance the cost of acquisition/construction/improvement of new and existing educational facilities. Part II, line 3, column (D): The difference between part II, line 3 and issue price in part I is due to investment income. Part II, line 3, 2013 bond: The College entered into an agerement to borrow up to $25,000,000 in a non-revolving term loan from First Republic Bank, issued through the California Municipal Finance Authority (CMFA). First Republic Bank will disburse, from time to time, loan proceeds as requested by the College. As of June 30, 2016, the College had borrowed approximately $24,800,000 for the purposes of financing the cost of acquisition and construction of new educational facilities. Schedule K, Part III, line 3a, column C: First Service Residential manages the College's single-family rental home inventory for its rental program to faculty and staff, however, it was determined there is no private business issue due to safe harbor rules. A California Municipal Finance Authority 201563466 000000000 2013-12-11 24937500 See Part VI 0 0 0 A 573672 24937570 124591 10859864 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Jefferson Huang VP for Student Affairs, Admission & Financial Aid Housing Assistance X 100000 43236 0 1 1 Matthew Bibbens VP for Administration & Planning, General Counsel, Sec. of the Corporation Housing Assistance X 100000 82500 0 1 1 Robin Aspinall VP for Business Administration, Treasurer Housing Assistance X 100000 91667 0 1 1 217403 Mary Spellman Family Member of Julie T. Spellman Sweet, Trustee 145501 Employment 0 Amy Bibbens Family Member of Matthew Bibbens, Officer 82233 Employment 0 Catherine Huang Family Member of Jefferson Huang, Key Employee 34158 Employment 0 Priya Junnar Family Member of Hiram Chodosh, Officer 103334 Employment 0 X 1 2500000 Cost of Donated Property X 116 2540575 FMV X 2 149114 Appraisal X Supplies 19 90184 FMV 6 0 1 0 Form 990, Part VI, Section A, line 2 Henry R. Kravis and George R. Roberts are Trustee members and have a family relationship. They are also partners of Kohlberg, Kravis, Roberts & Co. Form 990, Part VI, Section B, line 11 The College utilizes a process for review of the IRS Form 990, "Return of Organization Exempt from Income Tax", that involves multiple layers of management as well as governing board members. The College has engaged an outside accounting firm to prepare the 990 using information provided by the College's Treasurer's Office and Claremont University Consortium's Office of Financial Services. Once a draft has been prepared, it is reviewed by individuals in the Office of Financial Services, the Office of Human Resources, and the College's Treasurer's Office, and changes are made as needed. Once a revised draft is available, it is reviewed by the Controller and the Vice President for Business and Administration/Treasurer. After this review and any resulting changes are complete, the revised draft is provided to members of the College's Audit Committee for questions and comments. Once questions and comments from the Audit Committee are fielded and issues resolved, the 990 is provided to all voting members of the Board of Trustees prior to filing. Form 990, Part VI, Section B, line 12c Officers, trustees, and key employees are required to annually sign and submit to the Treasurer a statement disclosing all material financial interests of the individual or immediate family members in any outside entity in which the College has or is considering a transaction or other business relationship. The Treasurer creates a summary report of these and any other known conflict of interest disclosures for review by the Audit Committee. All transactions in which the Audit Committee has determined that a conflict exists are approved or ratified by the Board of Trustees. Form 990, Part VI, Section B, line 15 The College's process for determining compensation for all corporate officers, key employees, and disqualified persons is performed on an annual basis and includes the following elements: 1) use of data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations, 2) review of comparable compensation data and approval of compensation arrangements by a Compensation Subcommittee of the Executive Committee of the Board of Trustees, and 3) contemporaneous documentation with respect to deliberations and decisions regarding compensation arrangements. Data as to comparable compensation is derived from one or more of the following sources: a) Information compiled from IRS Form 990 reports, b) other regional or national compensation surveys, including an annual compensation survey published by the College and University Professional Association for Human Resources, and c) external consultant surveys and/or databases. Form 990, Part VI, Section C, line 19 -Financial statements and conflict of interest policy are available on the College website. -Governing/organizing documents are not available to the public. Form 990, Part XI, line 9: Actuarial adjustment -3,677,762. Staff retirement plan comprehensive loss 103,071. Income from K-1's 2,823,333. Writeoff of pledge receivables -550,388. Claremont University Consortium 101 S Mills Ave Claremont CA 91711 954786748 Supporting Organization CA 501(c)(3) 11a, type I N/A 0 Claremont McKenna College Foundation 500 E 9th Street Claremont CA 91711 330735781 Supporting Organization CA 501(c)(3) 11a, type I Claremont McKenna College 1 Children's Education Center of Claremont 500 E 9th Street Claremont CA 91711 954508952 Preschool and Elementary School CA 501(c)(3) Line 2 Claremont McKenna College 1 Pooled Income Fund (1) Holdings CA N/A 0 Pre-69 Trusts (3) Holdings CA N/A 0 Charitable Remainder Unitrust (19) Holdings CA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0