2017-05-15T10:32:03-05:00 2016-06-30 161131146 BONADIO & CO LLP 432 NORTH FRANKLIN STREET SYRACUSE NY 13204 990 2015-07-01 150532276 WELLS COLLEGE WELL 3153643217 170 MAIN STREET AURORA NY 13026 ROBERT CREE CHIEF FINANCIAL OFFICER 3153643217 2017-05-15 1 BETTINA LIPPHARDT P00956232 3154764004 2015 2021-01-29 14:40:06Z JONATHAN GIBRALTER 170 MAIN STREET AURORA NY 13026 72925586 0 X HTTPS://WWW.WELLS.EDU/ X 1868 NY EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. THROUGH WELLS' ACADEMIC PROGRAM, RESIDENTIAL ATMOSPHERE, AND COMMUNITY ACTIVITIES, STUDENTS LEARN AND PRACTICE THE IDEALS OF THE LIBERAL ARTS. THE WELLS EXPERIENCE PREPARES STUDENTS TO APPRECIATE COMPLEXITY AND DIFFERENCE, TO EMBRACE NEW WAYS OF KNOWING, TO BE CREATIVE, AND TO RESPOND ETHICALLY TO THE INTERDEPENDENT WORLDS TO WHICH THEY BELONG. COMMITTED TO EXCELLENCE IN ALL AREAS OF ITS REACH, WELLS COLLEGE EQUIPS STUDENTS FOR LIFELONG LEARNING AND FOR SHARING THE PRIVILEGES OF EDUCATION WITH OTHERS. 19 18 702 0 119737 0 4401082 5740625 28288425 30783949 2420121 4243615 269344 52729 35378972 40820918 11974042 13396677 0 0 11030681 11511772 0 0 949721 11159443 11392541 34164166 36300990 1214806 4519928 69595501 70689792 8173547 8113526 61421954 62576266 TO EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. 0 0 29871057 13396677 30716941 HIGHER EDUCATION - INSTRUCTIONAL COSTS INCLUDING SALARY AND BENEFITS FOR FACULTY AND EXPENSES ASSOCIATED WITH MAINTAINING EDUCATIONAL DEPARTMENTS. ALL PROGRAM EXPENSES ARE INCURRED TO FURTHER THE EDUCATION OF THE STUDENTS.(545 AVERAGE STUDENT FTES) 29871057 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 106 0 1 702 1 1 1 1 IT 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT CREE 3153643217 170 MAIN STREET AURORA NY 13026 CARRIE BOLTON CHAIR 1.00 X X 0 0 0 MARIE CHAPMAN CARROLL VICE CHAIR 1.00 X X 0 0 0 SARAH CHASE SECRETARY 1.00 X X 0 0 0 KAREN FRANKEL BLUM TRUSTEE 1.00 X 0 0 0 LISA MAZZOLA CANIA TRUSTEE 1.00 X 0 0 0 FIONA FEIN TRUSTEE 1.00 X 0 0 0 PAMELA EDGERTON FERGUSON TRUSTEE 1.00 X 0 0 0 DANIEL J FESSENDEN TRUSTEE 1.00 X 0 0 0 SARAH J JANKOWSKI TRUSTEE 1.00 X 0 0 0 JUDITH LAVELLE TRUSTEE 1.00 X 0 0 0 AMY CERAND MCNAUGHTON TRUSTEE 1.00 X 0 0 0 HON RENEE FORGENSI MINARIK TRUSTEE 1.00 X 0 0 0 ALLEN NAPLES TRUSTEE 1.00 X 0 0 0 BETTY RODRIGUEZ VISLOSKY TRUSTEE 1.00 X 0 0 0 NANCY WENNER WITMER TRUSTEE 1.00 X 0 0 0 RACHAEL WILSON RISTAU TRUSTEE 1.00 X 0 0 0 KATIE FONG TRUSTEE 1.00 X 0 0 0 CARL SGRECCI TRUSTEE 1.00 X 0 0 0 JONATHAN GIBRALTER PRESIDENT 35.00 X X 159002 0 3661 THOMAS DE WITT INTERIM PRESIDENT 35.00 X X 98329 0 2808 WALTER NEWCOMB CHIEF OPERATING OFFICER 35.00 X 158994 0 4330 CINDY SPEAKER PROVOST, DEAN OF COLLEGE 35.00 X 137197 0 13299 MICHAEL MCGREEVEY VP FOR ADVANCEMENT 35.00 X 111786 0 13041 JEN MICHAEL DEAN OF STUDENTS 35.00 X 75765 0 11775 ROBERT CREE CHIEF FINANCIAL OFFICER 35.00 X 46358 0 1364 CRAIG EVANS VP FOR ADVANCEMENT 35.00 X 0 0 0 787431 0 50278 4 0 1 0 INNS OF AURORA LLC PO BOX 272 AURORA NY 13026 FOOD SERVICE 1554644 CLARK COMPANIES PO BOX 427 41155 STATE ROUTE 10 DELHI NY 13753 CONSTRUCTION 1367745 RUFFALO NOEL LEVITZ LLC PO BOX 718 DES MOINES IA 50303 CONSULTING 308781 THE WESTERN NEW YORK FLOOR COMPANY 103 POTOMAC STREET ROCHESTER NY 14611 CONSTRUCTION 271120 GIDEON STONE DESIGN-BUILD 1672 SLATERVILLE ROAD ITHACA NY 14850 CONSTRUCTION 267197 14 200603 5540022 1655387 5740625 TUITION & FEES 611600 30217207 30217207 AUXILLIARY ENTERPRISES 611710 566742 447005 119737 30783949 646526 646526 35701757 32104668 3597089 3597089 3597089 OTHER REVENUE 611600 52729 52729 52729 40820918 30716941 119737 4243615 13396677 13396677 932938 263120 547791 122027 8630892 6330978 1885784 414130 110429 85582 20353 4494 1098721 754229 285948 58544 738792 509804 187896 41092 6000 6000 95818 95818 78600 78600 190047 190047 793424 389998 332262 71164 465780 405950 16850 42980 895636 557106 276558 61972 563382 133446 428703 1233 1229669 925192 244584 59893 588884 479864 75166 33854 129792 115335 11850 2607 150663 150663 1349293 1349293 376887 247836 120602 8449 MEALS AND ENTERTAINMENT 1891301 1832470 53763 5068 STUDY ABROAD 1143896 1143896 STUDENT AND FACULTY SER 583160 566518 13576 3066 BOOKSTORE 150780 150780 709529 232983 457398 19148 36300990 29871057 5480212 949721 2976179 2675642 47562 9607 1568881 1326429 542112 441639 836210 737319 149636 130185 65982 154690 66019301 35432946 28769908 30586355 33967166 34004908 671865 623018 69595501 70689792 1120076 1215510 246007 247767 5328599 5221968 1478865 1428281 8173547 8113526 X 20727581 21522238 3793173 3962228 36901200 37091800 61421954 62576266 69595501 70689792 X 4519928 -3132158 -233458 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38639126 278334 -1040096 37877364 38752995 791408 -905277 38639126 39805369 409854 768219 2230447 38752995 38961052 359012 586327 101022 39805369 38482287 577915 -56841 42309 38961052 0 0 779027 779027 55397948 30566210 24831738 3356661 109427 3247234 6183687 4757309 1426378 301978 301978 30586355 DEFERRED GIVING OBLIGATIONS 297282 REFUNDABLE GOVERNMENT LOAN FUNDS 737319 ASSET RETIREMENT OBLIGATIONS 393680 1428281 23933007 -3132158 -233458 -3365616 27298623 125618 13396677 13522295 40820918 22778695 0 22778695 125618 13396677 13522295 36300990 PART V, LINE 4: THE COLLEGE'S PRIMARY INVESTMENT OBJECTIVE FOR THE ENDOWMENT ASSETS IS TO PROVIDE SUPPORT FOR THE COLLEGE'S MISSION OVER THE LONG TERM. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT -184,611. CHANGE IN VALUE OF FUNDS HELD BY OTHERS -48,847. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 13,396,677. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 13,396,677. 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 RACIALLY NONDISCRIMINATORY POLICY HAS BEEN PUBLISHED IN STUDENT BROCHURES, STUDENT HANDBOOK, EMPLOYEE HANDBOOK, AND ORIENTATION MATERIALS. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID AND GOVERNMENT GRANTS FOR RESEARCH AND DEVELOPMENT OF PROFESSORS IN THE EDUCATION FIELDS. EUROPE (INCLUDING ICELAND & GREENLAND) 1 4 PROGRAM SERVICES STUDY ABROAD PROGRAM 1919000 1 4 0 0 1 4 1919000 0 1919000 0 0 0 0 0 0 1 WELLS GRANT 425 13320999 SEOG GRANT 174 75678 PART I, LINE 2: APPLICATIONS ARE RECEIVED AND GRANTS ARE AWARDED FOR NEED BASED ELIGIBLE STUDENTS AND FOR ACADEMIC PERFORMANCE. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JONATHAN GIBRALTER PRESIDENT 157251 0 0 0 1751 0 3306 0 355 0 162663 0 0 0 WALTER NEWCOMB CHIEF OPERATING OFFICER 158994 0 0 0 0 0 3975 0 355 0 163324 0 0 0 CINDY SPEAKER PROVOST, DEAN OF COLLEGE 133997 0 0 0 3200 0 3350 0 9949 0 150496 0 0 0 X 67 1655387 FMV 0 0 1 PART I, LINE 32B: THE COLLEGE DIRECTS DONORS TO SEND ALL GIFTS OF STOCK DIRECTLY TO THE COLLEGE'S INVESTMENT BROKER. THE BROKER IS INSTRUCTED TO SELL ANY STOCK GIFTS RECEIVED AS QUICKLY AS POSSIBLE UPON RECEIPT. THE BROKER MUST DISCLOSE THE NAME OF THE STOCK, THE NUMBER OF SHARES, AND THE SELLING SHARE PRICE TO THE COLLEGE'S CHIEF FINANCIAL OFFICER AND OBTAIN APPROVAL PRIOR TO EXECUTING ANY SALE. THE BROKER'S COMMISSION IS TAKEN DIRECTLY FROM THE SALE PROCEEDS PRIOR TO REMITTING THE PROCEEDS TO THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE PROVIDES A DRAFT COPY OF THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO FILING. THE IRS FORM 990 IS ALSO POSTED ON THE TRUSTEES' PORTAL PRIOR TO FILING FOR REVIEW BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. STATEMENTS ARE REVIEWED ANNUALLY BY THE PRESIDENT OF THE COLLEGE, AND THE CHAIR AND SECRETARY OF THE BOARD OF TRUSTEES, WHO MONITOR AND ASSURE COMPLIANCE WITH INSTITUTIONAL POLICIES AND PRACTICES AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE STARTING SALARY AND BENEFITS PACKAGE FOR THE PRESIDENT IS DETERMINED BY THE EXECUTIVE COMMITTEE AND IS PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES PERFORMANCE GOALS AND OBJECTIVES WITH RESPECT TO COMPENSATION. IF, BASED ON THE EVALUATION AND BENCHMARK DATA COMPILED, A CONTRACT CHANGE IS RECOMMENDED, IT IS VOTED ON BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GRANTED UPON WRITTEN REQUEST OF AN INDIVIDUAL. ALL FORMS ARE AVAILABLE AT THE COLLEGE'S ADMINISTRATIVE OFFICES DURING NORMAL BUSINESS HOURS. A REPRESENTATIVE FROM THE COLLEGE WILL BE PRESENT AT ALL TIMES DURING THE REVIEW. UPON REQUEST, COPIES OF THE FORMS WILL BE PROVIDED. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -184,611. CHANGE IN FAIR VALUE OF FUNDS HELD BY OTHERS -48,847. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS CHARGED WITH OVERSIGHT AND SELECTION OF INDEPENDENT AUDITORS.