2016-02-25T13:10:10-07:00 2015-06-30 990 2014-07-01 930386908 REED INSTITUTE REED 5037777505 3203 SE Woodstock Blvd Portland OR 972028199 Lorraine Arvin Vice President and Treasurer 5037777240 2016-02-25 2014 2016-08-17 19:52:53Z REED COLLEGE Lorraine Arvin 3203 SE Woodstock Blvd Portland OR 972028199 295845280 0 X www.reed.edu X 1908 OR Provide education in the liberal arts and sciences 33 31 1885 3148 -533800 -533800 15802923 12748274 77401004 78196941 14024846 26597775 10043 4768 107238816 117547758 23371779 24178363 0 0 52190565 53761570 25712 0 4429919 32272541 33192973 107860597 111132906 -621781 6414852 745731927 746367992 133801009 133220860 611930918 613147132 The mission of Reed College is to provide education in the liberal arts and sciences. 0 0 1827698 0 1827698 The Institute had 23 research grants funded with federal funds. Departments funded were Biology, Chemistry, Financial Aid, Math, Psychology, Sociology, Economics and the Reactor. 84490433 24178363 62832013 1416 FTE Students, 319 degrees conferred 14/15. 14983570 0 13537230 Auxiliary services - students living in dorms, using dining facilities and bookstore. 0 0 0 101301701 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 1722 0 1 1885 1 1 1 0 0 0 0 0 0 0 0 0 X 33 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X X Lorraine Arvin 5037777506 Vice President and Treasurer 3203 SE Woodstock Blvd Portland OR 972028199 Konrad S Alt '81 Trustee 1 0 X 0 0 0 Stephen E Babson Trustee 1 0 X 0 0 0 Matthew P Bergman '84 Trustee 1 0 X 0 0 0 Timothy Boyle Trustee 1 0 X 0 0 0 M Jane Buchan Trustee 1 0 X 0 0 0 Suzanne Cassidy MD '65 Trustee 1 0 X 0 0 0 Richard J Danzig '65 Trustee 1 0 X 0 0 0 Kurt D Delbene Trustee 1 0 X 0 0 0 Donald Engelman '62 Trustee 1 0 X 0 0 0 Daniel B Greenberg '62 Trustee 1 0.02 X 0 0 0 Dennis Henner Trustee 1 0 X 0 0 0 Linda G Howard '70 Trustee 1 0 X 0 0 0 Jay M Hubert '66 Trustee 1 0 X 0 0 0 George M James '77 Trustee 1 0 X 0 0 0 Deborah D Kamali '85 Trustee 1 0 X 0 0 0 Anna Hayes Levin Trustee 1 0 X 0 0 0 Alex J Martinez '73 Trustee 1 0 X 0 0 0 Linda H Matthews '67 Trustee 1 0 X 0 0 0 Sandra E Mintz Trustee 1 0 X 0 0 0 Adrienne Nelson Trustee 1 0 X 0 0 0 Peter Norton '65 Trustee 1 0 X 0 0 0 Margaret Hill Noto '75 Trustee-Secretary 1 0 X 0 0 0 Eduardo Ochoa '73 Trustee 1 0 X 0 0 0 Roger M Perlmutter '73 Trustee-Chairman 1 0 X 0 0 0 Gary Rieschel '79 Trustee 1 0 X 0 0 0 Dylan Rivera '95 Trustee 1 0 X 0 0 0 John P Sheehy '82 Trustee 0 0 X 0 0 0 Alice Larkin Steiner '74 Trustee 1 0 X 0 0 0 Georges C St Laurent Jr Trustee 1 0 X 0 0 0 Peter C Stockman '77 Trustee 1 0 X 0 0 0 Richard H Wollenberg '75 Trustee-Vice Chairman 1 0 X 0 0 0 Marcia Yaross '73 Trustee 1 0 X 0 0 0 John R Kroger President 40 0.02 X X 394129 0 43487 Hugh Porter VP/College Relations 40 0 X 280356 0 43352 Lorraine Arvin VP and Treasurer 40 0.02 X 237324 0 26823 Nigel J Nicholson Dean of the Faculty 40 0 X 198228 0 34452 Michael Brody VP & Dean of Student Services 40 0 X 182123 0 32527 Milyon Trulove VP and Dean of Admission and Financial Aid 40 0 X 63185 0 9698 Martin Ringle Chief Tech Officer 40 0 X 214978 0 24427 Jan E Kurtz Director of Development 40 0 X 154355 0 26076 Mary James Dean for Institutional Diversity 40 0 X 152603 0 16970 Tracy Frantel Controller 40 0 X 151204 0 22999 M Townsend Angell Director of Facilities Operations 40 0 X 145806 0 22429 Edwin O McFarlane VP/Treasurer 40 0 X 150100 0 19470 2324391 0 322710 76 1 1 0 Bon Appetit Suite 100 2730 Sand Hill Road Menlo Park CA 94025 Food service 3813874 Reimers & Jolivette Inc 2344 NW 24th Ave Portland OR 972102132 Construction 3537944 Ameresco Quantum 111 Speen St Ste 410 Framingham MA 01701 Energy services 1824088 Hoffman Construction Company 805 SW Broadway Ste 2100 Portland OR 97205 Construction 1408263 CC&L Roofing 3319 SE 92nd Portland OR 972661924 Roofing 485688 27 0 0 0 0 1902067 10846207 5181888 12748274 Tuition and fees 611710 62326717 62326717 0 0 Aux-dorm fees 611710 6512470 6512470 0 0 Aux-cafeteria fees 611710 5549659 5549659 0 0 Aux-bookstore fees 611710 1475171 1475171 0 0 Other revenue and fees 611710 2332924 2332924 0 0 0 0 0 0 78196941 748214 0 -533800 1282014 0 0 0 0 0 0 0 0 16970 0 12202 0 4768 0 4768 0 0 4768 204134881 0 178285320 0 25849561 0 25849561 0 0 25849561 0 0 117547758 78196941 -533800 27136343 24178363 24178363 1526487 463300 732356 330831 36087798 32128942 1711704 2247152 3171753 2833222 143425 195106 10250660 8913381 652646 684633 2724872 2367271 172992 184609 161374 96114 61419 3841 183051 109753 68984 4314 10380157 9744237 426520 209400 7810972 7298540 371696 140736 964204 574280 366976 22948 1920619 1824588 84507 11524 2010564 1589189 91070 330305 2068726 1965290 91024 12412 5197359 4937491 228684 31184 409307 311028 92495 5784 2086640 1966712 104788 15140 111132906 101301701 5401286 4429919 6107563 10732474 6484226 9497585 11823884 9279704 852073 3572591 5902069 5936652 4637434 4872320 219925459 83598948 134983027 136326511 136553721 110642227 436877025 453992957 1510905 1514971 745731927 746367992 6329393 5708406 0 1413955 1960120 81323608 80075410 0 0 0 0 97679 140557 0 0 44636374 45336367 133801009 133220860 X 352047752 366547724 95501981 82363062 164381185 164236346 611930918 613147132 745731927 746367992 X 6414852 -4165700 0 0 0 -1032938 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 535307303 2111505 22193246 7655882 16603559 538958 534813655 480398152 5272650 73116008 7227447 15728428 523632 535307303 437080525 8414977 55724447 6481976 13820658 519163 480398152 406008955 37901157 15898933 6108823 15145332 1474365 437080525 365593559 3425302 62757798 6143512 16265381 3358811 406008955 0.57 0.3 0.13 0 0 2488000 9246257 11734257 0 193875206 70738473 123136733 0 0 0 0 0 14315996 12860475 1455521 0 0 0 0 136326511 0 0 Alternative investments 453992957 F 453992957 Post retirement benefits payable 26532543 Liability for split interest agreements 11096869 Refundable loan programs 2698841 Asset retirement obligation 3079868 Swap derivative 1928246 45336367 89176052 -4165700 0 0 -580425 -4746125 93922177 0 23625581 23625581 117547758 88020835 0 0 0 0 0 88020835 0 23112071 23112071 111132906 Schedule D, Part V, Line 4 The college's endowment funds are used for scholarships, chairs, academic support, library support, student services, and general operating support. Schedule D, Part XI, Line 2d Life income realized gains and income 580,425 Schedule D, Part XI, Line 4b Scholarships 23,625,581 Schedule D, Part XII, Line 4b Scholarships 23,625,581; Life income -452,513; Odyssey -30,985; Grayco -30,012 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Newspaper announcement is done once a year and statement on Admission website-http://www.reed.edu/diversity/index.html. Schedule E, Part I, Line 6 Financial assistance is from SEOG, Perkins, and Title 4 financial aid. Central America and the Caribbean 0 0 Investments 44423001 Europe (including Iceland and Greenland) 0 0 Investments 698133 East Asia and the Pacific 0 0 Investments 5764932 0 0 50886066 1 0 0 1 1 0 1 Reed Grants 650 23334915 0 SEOG 261 209939 0 Oregon State Grants 41 62560 0 Other State Grants 1 700 0 Other Outside Awards 129 570249 0 Schedule I, Part I, Line 2 A budget based on the grant proposal is entered into the accounting system. Purchases are monitored and approved by the controller and assistant controller. Wages paid are supported by time and effort reports. The grants coordinator reviews grant expenditure reports monthly. Quarterly financial reports are submitted for federal grants. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 John R Kroger President 394129 0 0 0 0 0 39323 0 4164 0 437616 0 0 0 Lorraine Arvin VP and Treasurer 237324 0 0 0 0 0 23896 0 2927 0 264147 0 0 0 Hugh Porter VP/College Relations 280356 0 0 0 0 0 28466 0 14886 0 323708 0 0 0 Nigel J Nicholson Dean of the Faculty 198228 0 0 0 0 0 20427 0 14025 0 232680 0 0 0 Michael Brody VP & Dean of Student Services 182123 0 0 0 0 0 18671 0 13856 0 214650 0 0 0 Milyon Trulove VP and Dean of Admission and Financial Aid 63185 0 0 0 0 0 5833 0 3865 0 72883 0 0 0 Martin Ringle Chief Tech Officer 177978 0 0 0 37000 0 15895 0 8532 0 239405 0 0 0 Jan E Kurtz Director of Development 154355 0 0 0 0 0 15792 0 10284 0 180431 0 0 0 Mary James Dean for Institutional Diversity 152603 0 0 0 0 0 15338 0 1632 0 169573 0 0 0 Tracy Frantel Controller 151204 0 0 0 0 0 15135 0 7864 0 174203 0 0 0 M Townsend Angell Director of Facilities Operations 145806 0 0 0 0 0 14581 0 7848 0 168235 0 0 0 Edwin O McFarlane VP/Treasurer 150100 0 0 0 0 0 15010 0 4460 0 169570 0 0 0 Schedule J, Part I, Line 1a Housing is required as a condition of employment for the President and is not considered taxable income. Residence cleaning is also provided for President. A Oregon Facilities Authority 936001787 68608JJE2 2008-04-23 47060000 See Part VI 0 0 0 B Oregon Facilities Authority 936001787 68608JNAS 2011-03-22 40030000 See part VI 0 0 0 A 6615000 0 47060000 0 977670 0 460000 0 0 0 45622338 0 2008 1 0 1 1 B 0 0 40030000 0 0 0 378528 0 0 20076273 19575199 0 2013 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 1 0 0 1 1 UBS 13 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 Schedule K, Part I, Column f-04/23/2008 47,060,000 Oregon Facilities Authority The 2008 Bonds were issued to provide funds need by the college to redeem and retire the 2006 and 2007 Bond issues. Schedule K, Part I, Column f-03/22/2011 40,030,000 Oregon Facilities Authority The 2011 Bonds were issued to provide funds for the refunding of the 2000 Bond issue and the planning, construction and financing of a performing arts building for the music, dance and theatre departments. Margaret Hill Noto Trustee 128440 Legal services provided by Stoel Rives 0 X 87 opinion of expert X 83 4386801 market value X 1 795000 opinion of expert 0 0 1 0 Schedule M, Part I, Line 1 The numbers reported in Part I, column (b) represent the number of items contributed. Form 990, Part VI, Section B, Line 11b An electronic draft of the form 990 is provided to the Audit Committee of the Board of Trustees. The committee reviews, discusses, and provides input to management. After the Audit Committee accepts the form 990, it is made available to all Trustees for review. After any further trustee questions are resolved and a final copy of the return has been provided to the entire board, the form 990 is filed. Form 990, Part VI, Section B, Line 12c Reed requires all officers and institutional trustees to complete a conflict of interest form annually. The form includes the college's conflict of interest policy and asks each individual about the existence of conflicts of interest. If a conflict of interest exists the officer or trustee is asked to describe the situation in their response. These forms are reviewed by the Vice-President and Treasurer and the Chair of the Audit Committee of the Board. Persons with a conflict are prohibited from participating in the Board and officer deliberations and decisions in those transactions. Form 990, Part VI, Section B, Line 15 The Executive Committee, which is comprised of independent Trustees and which functions as the College's compensation committee, annually reviews presidential and officer compensation data from comparator colleges along with other data provided by the Human Resources Office. They also conduct an annual performance evaluation of the President. Any changes in the President's compensation are approved by the Executive Committee, and communicated by the Chair of Board of Trustees in writing to the President. The Executive Committee review and decisions on executive compensation are documented in the minutes of the Executive Committee meetings. These reviews are completed in June of each year. Form 990, Part VI, Section C, Line 19 Governing documents are available upon request. Conflict of interest policy and financial statements are available on the College's Office of the Treasurer website. Form 990, Part XI, Line 9 Life Income unrealized loss of 1,032,938. Odyssey Property Holdings Inc 3203 SE Woodstock Blvd Portland OR 97202 200779531 acquiring, developing, holding title to property OR 501(c)(2) The Reed Institute 1 Grayco Resources Inc 3203 SE Woodstock Blvd Portland OR 97202 930603357 Rental Activity OR The Reed Institute S 70000 1298063 1 1 Charitable remainder trust (32) 3203 SE Woodstock Blvd Portland OR 97202 Trust OR The Reed Institute T 0 Pooled Income Fund (1) 3203 SE Woodstock Blvd Portland OR 97202 Pooled Income Fund OR The Reed Institute T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 Grayco Resources Inc k 70000 Lease agreement Grayco Resources Inc s 60000 Loan payments