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US GOV'T 559997 LIABILITY- INTEREST RATE SWAPS 8309797 8869794 X 101299780 -2864901 -25902064 -28766965 130066745 76586 76586 130143331 86002415 86002415 76586 25373001 25449587 111452002 COLLECTIONS OF ART PART III, LINE 4 ENDICOTT COLLEGE DOES NOT HAVE A SEPARATE ART COLLECTION REPORTED IN THE FINANCIAL STATEMENT. HOWEVER, ENDICOTT'S LIBRARY HOUSES COLLECTIONS OF BOOKS, PERIODICALS, AND OTHER REFERENCE MATERIALS. WITHIN THE LIBRARY IS AN ARCHIVES & MUSEUM. THE PURPOSE OF THE ARCHIVES & MUSEUM IS TO PRESERVE, INTERPRET, AND EXHIBIT THE HISTORY OF THE COLLEGE. THIS IS ACCOMPLISHED THROUGH A PERMANENT COLLECTION THAT INCLUDES, BUT IS NOT LIMITED TO, ARCHIVAL DOCUMENTS THAT CHRONICLE THE DEVELOPMENT OF THE COLLEGE, PHOTOGRAPHS, EPHEMERA, ORAL HISTORY, AND ARTIFACTS. THE ARCHIVES & MUSEUM ENHANCES THE APPRECIATION AND UNDERSTANDING OF ENDICOTT COLLEGE'S HERITAGE, SHOWS THE EVOLUTION AND GROWTH OF THE INSTITUTION AND THE INFLUENCE THE INSTITUTION HAS WITHIN THE EXTENDED COMMUNITY. ENDOWMENT FUNDS PART V, LINE 4 ENDICOTT'S ENDOWMENT INCLUDES 94 FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS, ACADEMIC PROGRAMS, AND ASSISTANCE TO STUDENTS WITH DISABILITIES. FUNDS RESTRICTED TO SCHOLARSHIPS ARE AWARDED BASED ON A COMBINATION OF FINANCIAL NEED AND OTHER DONOR-SPECIFIED CRITERIA. APPROXIMATELY 90% OF THE ENDOWMENT IS UNRESTRICTED. INCOME AND DIVIDENDS ARE REINVESTED, AND APPROPRIATIONS (DRAWS) ARE MADE ONLY FOR DONOR-STIPULATED PURPOSES; THAT AMOUNT IS TYPICALLY LESS THAN 1% OF THE ENDOWMENT. GENERALLY, THE MAXIMUM DRAW IS NO GREATER THAN 5% OF THE AVERAGE FAIR VALUE OF EACH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT. DUE TO MOST ENDOWMENT FUNDS CONTINUING THEIR RECOVERY FROM PRIOR MARKET LOSSES, IN 2015 ONLY $245,189 WAS APPROPRIATED. ENDICOTT EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE GREATER THAN PLANNED PAYOUTS. THE COLLEGE TRANSFERS OPERATING FUNDS ON AN ANNUAL BASIS IN ORDER TO HELP BUILD THE ENDOWMENT. IN FISCAL 2015 A TOTAL OF $2,426,760 WAS ADDED. UNCERTAIN TAX POSITIONS PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. THE COLLEGE GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IN THE EVENT OF AN EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, THE COLLEGE MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE "MORE LIKELY THAN NOT" THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. THE COLLEGE HAS ANALYZED ALL OPEN TAX YEARS, DEFINED BY STATUTES OF LIMITATIONS, FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR JURISDICTIONS FOR THE COLLEGE INCLUDE FEDERAL AND THE STATE OF MASSACHUSETTS. AS OF JUNE 30, 2015, OPEN FEDERAL AND MASSACHUSETTS TAX YEARS FOR THE COLLEGE INCLUDE THE TAX YEARS ENDED JUNE 30, 2011, THROUGH JUNE 30, 2014. THE COLLEGE HAS NO EXAMINATIONS IN PROGRESS. THE COLLEGE BELIEVES IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUE INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON RETURN PART XI, LINE 2D CHANGE IN LIABILITY FOR INTEREST RATE SWAP ($529,063) SCHOLARSHIPS ($25,373,001) ------------- TOTAL ($25,902,064) OTHER EXPENSES INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XII, LINE 4B SCHOLARSHIPS $25,373,001 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY PART I, LINE 3 ENDICOTT'S STATEMENTS ON NONDISCRIMINATION CAN BE FOUND IN ALL MAJOR DOCUMENTS OF THE COLLEGE INCLUDING: THE UNDERGRADUATE AND GRADUATE CATALOGS, EMPLOYEE HANDBOOK, STUDENT HANDBOOK, INTERNSHIP DIRECTORY, FACTS AND FIGURES, ANNUAL REPORT, SOUNDINGS MAGAZINE AND MANY OTHER DOCUMENTS PUBLISHED BY THE COLLEGE. THE STATEMENT IS ALSO LOCATED ON THE COLLEGE WEBSITE AND IN MANY OF ONLINE PUBLICATIONS. FINANCIAL AID OR ASSISTANCE PART I, LINE 6A ENDICOTT COLLEGE PARTICIPATES IN FEDERAL STUDENT AID PROGRAMS AS WELL AS MASSACHUSETTS STUDENT AID PROGRAMS. true Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 1347442 East Asia and the Pacific Program Services STUDY ABROAD 484995 Central America and the Caribbean Program Services STUDY ABROAD 18400 South America Program Services STUDY ABROAD 35300 Sub-Saharan Africa Program Services STUDY ABROAD 75840 Middle East and North Africa Program Services STUDY ABROAD 17250 North America 2 Program Services FOREIGN CAMPUS 177385 Central America and the Caribbean Investments 8381328 North America Investments INV IN FOREIGN CAMPUS 915467 2 2 11453407 11453407 ENDICOTT STUDENT AID Europe (Including Iceland and Greenland) 116 553266 ACCT CREDIT ENDICOTT STUDENT AID East Asia and the Pacific 46 148625 ACCT CREDIT ENDICOTT STUDENT AID Central America and the Caribbean 3 10250 ACCT CREDIT ENDICOTT STUDENT AID South America 3 14500 ACCT CREDIT ENDICOTT STUDENT AID Sub-Saharan Africa 6 16625 ACCT CREDIT true false true true false true MONITOR THE USE OF GRANT FUNDS OUTSIDE OF THE U.S. PART I, LINE 2 THE PROCEDURE FOR AWARDING SCHOLARSHIP AID TO STUDENTS STUDYING ABROAD FOLLOWS THE SAME PROCEDURE AS SCHOLARSHIP AID AWARDED TO STUDENTS STUDYING AT THE BEVERLY, MASSACHUSETTS CAMPUS. STUDENTS ARE AWARDED AID BASED ON MERIT AND/OR FINANCIAL NEED. ALL STUDENTS MUST APPLY FOR FINANCIAL AID AND SUBMIT A FREE APPLICATION FOR STUDENT AID (FAFSA). EACH APPLICANT'S FINANCIAL STATUS IS EVALUATED SO THAT AWARDS WILL ACCOMMODATE A PARTICULAR STUDENT'S NEED. STUDENTS MAY ALSO BE CONSIDERED FOR ENDICOTT PRESIDENTIAL ACADEMIC SCHOLARSHIPS. ALL STUDENT AID RECORDS ARE MAINTAINED IN THE OFFICE OF FINANCIAL AID AND ARE REVIEWED IN THE COURSE OF FINANCIAL AND A-133 AUDITS PERFORMED BY KPMG LLP. STUDENTS STUDYING ABROAD ARE BILLED TUITION AT ENDICOTT'S RATE OR THE STUDY ABROAD PROGRAM'S RATE IF IT IS HIGHER. STUDENTS ARE BILLED FOR ENDICOTT'S AVERAGE MEALS AND HOUSING COSTS AS WELL AS ANY OTHER FEES CHARGED BY THE PROGRAM. STUDENT AID AWARDS ARE POSTED TO STUDENT ACCOUNTS, THEREBY REDUCING THE AMOUNT THE FAMILY MUST REMIT TO THE COLLEGE. PAYMENT IS MADE BY THE COLLEGE TO THE STUDY ABROAD AGENCY OR UNIVERSITY UPON RECEIPT OF AN INVOICE AND DETERMINATION THAT THE STUDENT HAS PAID ENDICOTT. X X X X X X X true Celebrity Marketing Inc 180 CANAL 180 Canal Street Boston MA 02114 SEE PART IV false 120494 191000 -70506 120494 191000 -70506 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY GOLF TOURNAMENT 78698 28950 49748 9160 8969 2671 CAR SHOW 61765 24845 36920 6000 39383 1 58476 46815 11661 8580 5880 5781 198939 100610 98329 17740 20849 47835 86424 11905 FUNDRAISING ACTIVITIES PART I, LINE 2B CELEBRITY MARKETING, INC. DEVELOPED SPONSORSHIP PACKAGES FOR NAMING RIGHTS OF THE ARENA AND ASSISTED WITH EVENT PLANNING FOR THE ARENA. STATE REGISTRATION PART I, LINE 3 THE COLLEGE ENGAGED NATIONAL CORPORATE RESEARCH (NCR) TO REGISTER ENDICOTT AS A FUNDRAISER IN ALL 50 STATES AND THE DISTRICT OF COLUMBIA. THE STATES ARE LISTED IN PART I, LINE 3. HOWEVER, THE REGISTRATIONS (AND PAYMENT TO NCR) DID NOT TAKE PLACE UNTIL FISCAL 2016. true CITY OF BEVERLY 191 CABOT STREET BEVERLY MA 01915 999999999 GOV'T 166667 GENERAL SUPPORT BEVERLY MAIN STREETS 248 CABOT STREET BEVERLY MA 01915 562306350 501(C)(3) 60000 GENERAL SUPPORT 2 ENDICOTT YELLOW RIBBON 11 51237 ENDICOTT NEED-BASED SCHOLARSHIPS 1466 12831900 ENDICOTT MERIT/ACADEMIC SCHOLARSHIPS 1507 10830345 MEXICO TRANSFERS SCHOLARSHIP 8 88116 FEDERAL SEOG GRANT 121 117951 SPECIAL/PRESIDENT'S DISCRETIONARY SCHOLARSHIP 26 256862 MA GILBERT GRANT/MA PT STUDENT GRANT 132 159150 ENDOWED AND DONOR-RESTRICTED SCHOLARSHIPS 328 245675 ENDICOTT ROTC GRANT 9 48500 MONITORING THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 IN RECOGNITION OF THE CLOSE RELATIONSHIP BETWEEN THE COLLEGE AND THE CITY OF BEVERLY, AN ANNUAL GIFT IS PRESENTED TO THE MAYOR OF THE CITY TO ASSIST IN THE FURTHERANCE OF THE CITY OF BEVERLY'S INITIATIVES. THE COLLEGE PROVIDED BEVERLY MAIN STREETS WITH GENERAL SUPPORT TO PROMOTE AND ENHANCE DOWNTOWN BEVERLY'S ECONOMIC VITALITY, CULTURAL AND HISTORIC RESOURCES AND QUALITY OF LIFE. ENDICOTT COLLEGE PROVIDES SCHOLARSHIP AND GRANT AID TO ELIGIBLE STUDENTS THROUGH ITS OWN RESOURCES, AS WELL AS FEDERAL AND STATE PROGRAMS. TO QUALIFY FOR SCHOLARSHIP OR GRANT AID, A STUDENT MUST BE ENROLLED IN AN APPROVED PROGRAM AND BE IN GOOD ACADEMIC STANDING. MOST OF THE AID PROGRAMS REQUIRE THAT STUDENTS DEMONSTRATE FINANCIAL NEED. ENDICOTT AWARDS ARE MADE ON A FUNDS-AVAILABLE BASIS TO DESERVING STUDENTS. THE COLLEGE MAKES EVERY EFFORT TO ENSURE THAT A QUALITY EDUCATION IS AVAILABLE TO ALL STUDENTS, REGARDLESS OF INCOME LEVEL, RACE, RELIGION, DISABILITY, NATIONAL OR ETHNIC ORIGIN, AGE, OR GENDER. X X true true X X X X X false true false false false false false false false RICHARD E WYLIE PRESIDENT 406938 0 0 0 88451 0 38800 0 51779 0 585968 0 0 0 LYNNE O'TOOLE EXECUTIVE VP/ VP OF FINANCE 230214 0 0 0 51188 0 31092 0 20391 0 332885 0 0 0 THOMAS REDMAN VP ADMISSION/ FINANCIAL AID 272385 0 0 0 4436 0 34933 0 18201 0 329955 0 0 0 DENNIS MONACO DIRECTOR, PHYSICAL PLANT 170595 0 0 0 999 0 14072 0 16884 0 202550 0 0 0 LAURA ROSSI-LE VP AND DEAN OF COLLEGE 168506 0 0 0 1913 0 23122 0 24618 0 218159 0 0 0 DAVID VIGNERON VP INSTITUTIONAL ADVANCEMENT 203816 0 0 0 18549 0 16305 0 25629 0 264299 0 0 0 MARY HUEGEL VP/ DEAN GRAD AND PROF STUDIES 164340 0 0 0 928 0 22200 0 10969 0 198437 0 0 0 ANTHONY FERULLO TREASURER/FISCAL AFFAIRS 158296 0 0 0 137 0 13072 0 16033 0 187538 0 0 0 WARREN JAFERIAN DEAN, INTERNATIONAL STUDIES 154087 0 0 0 296 0 12575 0 25614 0 192572 0 0 0 KELLY FISHER DEAN, SCHOOL OF NURSING 153605 0 0 0 287 0 10172 0 24549 0 188613 0 0 0 BENEFITS PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE VP OF INSTITUTIONAL ADVANCEMENT RECEIVES A GROSS UP PAYMENT ON A TAXABLE LIFE INSURANCE POLICY THAT THE COLLEGE PROVIDED TO THIS INDIVIDUAL. HOUSING ALLOWANCE: DR. WYLIE LIVES IN ON-CAMPUS HOUSING FOR THE CONVENIENCE OF ENDICOTT COLLEGE AND THE HOUSING IS THEREFORE NOT TAXABLE. THE RESIDENCE IS USED EXTENSIVELY FOR COLLEGE FUNCTIONS. DR. WYLIE'S FAMILY HAS NEVER LIVED IN THE ON-CAMPUS RESIDENCE PROVIDED TO HIM; HE MAINTAINS A PERSONAL RESIDENCE IN ANOTHER CITY. THE VALUE OF THE HOUSING ALLOWANCE IS INCLUDED IN SCHEDULE J, PART II UNDER COLUMN(D) NONTAXABLE BENEFITS. METHODS TO ESTABLISH COMPENSATION PART I, LINE 3 THE PRESIDENT IS COMPENSATED IN ACCORDANCE WITH A MULTI-YEAR COMPENSATION PLAN THAT IS BASED UPON RESEARCH ON COMPENSATION AWARDED TO PRESIDENTS IN SIMILAR INSTITUTIONS, TOGETHER WITH AN APPRAISAL OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT'S PERFORMANCE IS REVIEWED BY THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. IN AUGUST 2012 AN OUTSIDE CONSULTANT WAS ENGAGED TO COMPLETE AN EXECUTIVE COMPENSATION SURVEY. THE SURVEY INCLUDED 19 PEER COLLEGES. THE RESULTS OF THE SURVEY ESTABLISHED THE PRESIDENT'S COMPENSATION IS APPROPRIATE. NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN PART I, LINE 4B DR. RICHARD E. WYLIE, PRESIDENT, PARTICIPATES IN A NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN. DR. WYLIE RECEIVED $83,452 FROM THIS PLAN DURING CALENDAR YEAR 2014. COMPENSATION PART II LYNNE B. O'TOOLE, EXECUTIVE VICE PRESIDENT AND VICE PRESIDENT OF FINANCE, IS COMPENSATED IN ACCORDANCE WITH AN AGREEMENT THAT PROVIDES FOR A RETIREMENT/SEPARATION PAYMENT EQUAL TO $50,000 FOR EACH YEAR AFTER SEPTEMBER 1, 2009, THAT SHE HAS WORKED. THE 2014 COMPENSATION IS INCLUDED IN TAXABLE WAGES. A MMEFA - SERIES F 042456011 2010-04-01 10000000 REFINANCE DEBT AND CONSTRUCTION false false false B MASSACHUSETTS DEVELOPMENT FIN AGENCY SERIES 2012 043431814 2012-08-02 26465000 REFINANCE DEBT false false false C MASSACHUSETTS DEVELOPMENT FIN AGENCY 043431814 2015-03-31 18000000 CONSTRUCTION false false false A 726752 0 10000000 0 0 0 123750 0 0 9876250 0 0 2012 false false true true B 3170000 0 26465000 0 0 0 0 0 0 0 26465000 0 2006 true false true true C 0 0 18000000 0 0 0 0 0 0 18000000 0 0 2015 false false false true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false false false true false false 0 false 0 false true B false false true false true true BANK OF AMERICA 25. false false false 0 false true C false true false false false false 0 false 0 false true A true B true C true SCHEDULE K DURING FISCAL 2015 A TAX-EXEMPT BOND WAS ISSUED THROUGH MASSACHUSETTS DEVELOPMENT FINANCE AGENCY IN THE AMOUNT OF $18,000,000 FOR THE PURPOSE OF CONSTRUCTING NEW STUDENT HOUSING. SOME OF THE COLLEGE'S PRIOR REFINANCED DEBT HAD FOUR SWAP AGREEMENTS ASSOCIATED WITH IT. THE SWAPS HAVE MATURITY DATES RANGING FROM OCTOBER 1, 2018 THROUGH OCTOBER 1, 2037. REBATE COMPUTATION DATE PART IV, LINE 2C BOND ISSUE A MMEFA - SERIES F: THE REBATE COMPUTATION DATE WAS FEBRUARY 1, 2013. SINCE THE COLLEGE DOES NOT FUND A DEBT SERVICE PAYMENT ACCOUNT THERE ARE NO OTHER PROCEEDS SUBJECT TO THE ARBITRAGE REBATE REQUIREMENT EXCEPT FOR THE $53.08 OF BOND PROCEEDS THAT WERE UNSPENT AS OF FEBRUARY 1, 2013. UNLESS THE COLLEGE BEGINS TO FUND A DEBT SERVICE PAYMENT ACCOUNT, CASH DEFEASES THE BONDS, AND/OR THE COLLEGE SELLS ASSETS THAT WERE FINANCED BY THE PROCEEDS OF THE BONDS, THERE IS NO NEED FOR ADDITIONAL ARBITRAGE REBATE CALCULATIONS. THE BOARD OF THE TRUSTEES APPROVED A POST-ISSUANCE TAX EXEMPT BOND POLICY THAT INCLUDES PROCEDURES TO ENSURE COMPLIANCE AND REMEDIES THAT WOULD BE UNDERTAKEN IN THE EVENT A VIOLATION WAS DISCOVERED. BRIAN WYLIE FAMILY MEMBER-PRES. WYLIE 184744 COMPENSATION-ATHLETIC DIRECTOR false SAMUEL ALEXANDER FAMILY MEMBER-TRUSTEE 85877 COMPENSATION- FACULTY false X 11 153606 FMV false true false CONTRIBUTIONS PART I, COLUMN (B) THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). POLICY ON NON-CASH GIFTS PART I, LINE 31 GIFTS OTHER THAN CASH, CHECK, PAYROLL DEDUCTION OR STOCK ARE ACCEPTED AFTER A FORM IS ROUTED AND SIGNED OFF BY THE PRESIDENT, TREASURER, VP OF FINANCE, AND VP OF INSTITUTIONAL ADVANCEMENT. THE VALUE OF STOCK GIFTS REPRESENTS THE AVERAGE OF THE HIGH AND LOW VALUE ON THE DATE THE GIFT IS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 SHAPED BY A BOLD AND ENTREPRENEURIAL SPIRIT, ENDICOTT COLLEGE OFFERS STUDENTS A VIBRANT ACADEMIC ENVIRONMENT THAT REMAINS TRUE TO ITS FOUNDING PRINCIPLE OF INTEGRATING PROFESSIONAL AND LIBERAL ARTS WITH EXPERIENTIAL LEARNING, INCLUDING INTERNSHIP OPPORTUNITIES ACROSS DISCIPLINES. THE COLLEGE FOSTERS A SPIRIT OF EXCELLENCE BY CREATING A CHALLENGING YET SUPPORTIVE ENVIRONMENT IN WHICH STUDENTS ARE ENCOURAGED TO TAKE INTELLECTUAL RISKS, PURSUE SCHOLARLY AND CREATIVE INTERESTS, CONTRIBUTE TO THE COMMUNITY, AND EXPLORE DIVERSE CAREER PATHS. ENDICOTT IS COMMITTED TO SUPPORTING THE PERSONAL AND PROFESSIONAL DEVELOPMENT OF ITS STUDENTS, PREPARING THEM TO ASSUME MEANINGFUL ROLES WITHIN THE GREATER COMMUNITY BOTH DOMESTICALLY AND INTERNATIONALLY. STATEMENT OF UNDERSTANDING ENDICOTT COLLEGE IS COMMITTED TO PROVIDING AN EDUCATIONAL EXPERIENCE THAT WILL ENCOURAGE STUDENTS TO VIEW THE CONCEPT OF DIVERSITY FROM A VARIETY OF PERSPECTIVES IN ORDER TO FOSTER UNDERSTANDING AND ULTIMATELY GREATER RESPECT AND ACCEPTANCE AMONG INDIVIDUALS. EMBRACING DIVERSITY MEANS UNDERSTANDING AND RESPECTING OUR INDIVIDUAL DIFFERENCES, WHICH INCLUDES THE DIMENSIONS OF RACE, ETHNICITY, GENDER, SEXUAL ORIENTATION, SOCIO-ECONOMIC STATUS, AGE, DIFFERING ABILITIES (E.G., PHYSICAL, EMOTIONAL, AND COGNITIVE), RELIGIOUS AND POLITICAL BELIEFS. CENTRAL TO THE EXPLORATION OF THE DIFFERENCES AND SIMILARITIES AMONG INDIVIDUALS IS THE NEED TO OFFER A SAFE, POSITIVE, AND SUPPORTIVE ENVIRONMENT. THE GOAL IS TO REACH A GREATER UNDERSTANDING OF EACH OTHER AND TO MOVE BEYOND SIMPLE TOLERANCE TO EMBRACING AND CELEBRATING THE RICH DIMENSIONS OF DIVERSITY CONTAINED WITHIN EACH INDIVIDUAL. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III ENDICOTT COLLEGE WAS RANKED IN THE TOP TIER OF NORTHERN REGIONAL UNIVERSITIES AT #66 OF 183 INSTITUTIONS IN THE US NEWS AND WORLD BEST COLLEGES 2015 REPORT. THE COLLEGE WAS #50 OF 90 IN ITS CATEGORY OF "BEST COLLEGES FOR VETERANS" AND WAS INCLUDED IN A LIST OF "A+ SCHOOLS FOR B STUDENTS.". PEERS AGREE THAT ENDICOTT HAS MADE THE "MOST PROMISING AND INNOVATIVE CHANGES IN THE AREA OF ACADEMICS, FACULTY, STUDENT LIFE, CAMPUS, AND/OR FACILITIES." DURING FISCAL 2015, FOR FALL 2015 ADMISSION, THE OFFICE OF ADMISSION RECEIVED 4,201 APPLICATIONS, ACCEPTED 71% OF THE APPLICANTS, AND ENROLLED 28% OF THOSE ACCEPTED FOR ADMISSION. THE COLLEGE AWARDED 616 BACHELOR DEGREES AND 494 MASTERS DEGREES IN 2015. OUR GRADUATES HAD A FIRST-TIME PASS RATE OF 91% ON EXTERNAL EXAMINATIONS FOR ATHLETIC TRAINING, 100% FOR THE TITLE II EDUCATOR'S EXAM, AND 82% FOR NURSING. EXTERNAL LICENSURE FOR THESE PROGRAMS IS ASSESSED BY THE NATA BOARD OF CERTIFICATION LICENSURE, THE MASSACHUSETTS DEPARTMENT OF EDUCATION LICENSURE, AND NATIONAL COUNCIL LICENSURE EXAMINATION, RESPECTIVELY. ENDICOTTS RETENTION RATE OF FRESHMAN ENTERING 2013 AND RETURNING 2014 WAS 86%. THE SIX YEAR GRADUATION RATE FOR FRESHMAN ENTERING 2009 WAS 71%. OF THE 2014 GRADUATES WHO RESPONDED TO CAREER SURVEYS, 84% OF DAY DIVISION GRADUATES WERE EMPLOYED FULL-TIME WITHIN 12 MONTHS OF GRADUATION. 88% OF THOSE WERE IN EMPLOYMENT RELATED TO THEIR MAJOR, AND 39% FOUND EMPLOYMENT THROUGH A FORMER INTERNSHIP SITE OR CONTACT. ENDICOTT HAS BEEN IDENTIFIED BY AFFORDABLECOLLEGESONLINE.ORG AS ONE OF THE MASSACHUSETTS COLLEGES AND UNIVERSITIES WITH THE GREATEST LIFETIME RETURN ON INVESTMENT. GRADUATES FROM THESE SCHOOLS ENJOY THE LARGEST EARNINGS GAP BETWEEN NON-DEGREE HOLDERS OVER THIRTY YEARS AND EARN MORE ON AVERAGE THAN GRADUATES FROM OTHER MASSACHUSETTS SCHOOLS. COMMUNITY SERVICE IS EMBRACED AT ENDICOTT, WITH 54% OF THE ENDICOTT STUDENT BODY PARTICIPATING IN COMMUNITY SERVICE, FOR A TOTAL OF 21,613 COMMUNITY SERVICE HOURS PERFORMED BY 1,337 STUDENTS. THE STATE AND NATIONAL AVERAGE IS 31% AND 27%, RESPECTIVELY. PROGRAM SERVICES FORM 990, PART III, LINES 4A-4D LINE 4A *EDUCATION AND AUXILIARY* ENDICOTTS UNDERGRADUATE COLLEGE OFFERS BACHELOR OF FINE ARTS, BACHELOR OF ARTS, AND BACHELOR OF SCIENCE DEGREES. DAY PROGRAM ENROLLMENT FOR FALL 2014 WAS 2,485 STUDENTS, WITH ANOTHER 86 STUDENTS ENROLLED IN MADRID, SPAIN, AND DEVONSHIRE, BERMUDA. THE SCHOOL OF GRADUATE AND PROFESSIONAL STUDIES GRANTS ASSOCIATE IN ARTS, ASSOCIATE IN SCIENCE, BACHELOR OF ARTS, BACHELOR OF SCIENCE, MASTER OF ARTS, MASTER OF EDUCATION, MASTER OF FINE ARTS, MASTER OF SCIENCE, MASTER OF BUSINESS ADMINISTRATION, DOCTOR OF EDUCATION AND DOCTOR OF PHILOSOPHY DEGREES. ENROLLMENT IN THE SCHOOL OF GRADUATE AND PROFESSIONAL STUDIES, INCLUDING PROGRAMS BEVERLY, GLOUCESTER AND BOSTON, MASSACHUSETTS, MADRID, SPAIN, MEXICO CITY, MEXICO, DEVONSHIRE, BERMUDA, LEYSIN, SWITZERLAND, BANGKOK, THAILAND, AND PRAGUE, CZECH REPUBLIC WAS 2,171 STUDENTS AS OF FALL 2014. IN ADDITION TO DEGREE PROGRAMS, PROFESSIONAL DEVELOPMENT PROGRAMS AND CONSULTING ARE OFFERED THROUGH THE SCHOOL OF GRADUATE AND PROFESSIONAL STUDIES. ENDICOTT COLLEGE'S ACADEMIC OFFERINGS PROVIDE UNDERGRADUATES WITH AN ENRICHING AND CHALLENGING EDUCATIONAL EXPERIENCE. STUDENTS SELECT FROM A BROAD ARRAY OF MAJOR AND MINOR PROGRAM OFFERINGS WHICH ARE AUGMENTED BY COURSEWORK IN THE LIBERAL ARTS AND REQUIRED EXPERIENTIAL LEARNING OPPORTUNITIES WITHIN THEIR PROFESSIONAL AREAS OF STUDY. OF THE TOTAL UNDERGRADUATE ENROLLMENT, NEARLY 82% LIVE ON CAMPUS. THE COLLEGE OFFERS A LARGE VARIETY OF RESIDENCE HALL OPTIONS, RANGING FROM TRADITIONAL TO APARTMENT-STYLE HOUSING. FACILITIES CONSIST OF CONVERTED MANSIONS, SMALL HOUSES, TOWNHOUSES, AND LARGER RESIDENCE HALLS. FOR THE FALL 2014 SEMESTER, 2,144 STUDENTS WERE HOUSED ON CAMPUS. ALL RESIDENT STUDENTS MUST ENROLL IN ONE OF FOUR MEAL PLANS OFFERED DURING THE ACADEMIC YEAR. DINING OPTIONS INCLUDE A LARGE DINING HALL, TWO CAFES, AND A LODGE. LINE 4B *ACADEMIC SUPPORT* ENDICOTT OFFERS STUDENTS VARIOUS PROGRAMS AND FACILITIES TO ENHANCE AND ENCOURAGE THEIR ACTIVE PARTICIPATION IN THE INTELLECTUAL LIFE OF THE COLLEGE AND PROMOTE THEIR SUCCESSFUL PERFORMANCE IN THE CLASSROOM. THIS IS ACCOMPLISHED THROUGH STATE-OF-THE-ART ACADEMIC TECHNOLOGY, THE CENTER FOR TEACHING AND LEARNING, THE DIANE M. HALLE LIBRARY, THE WRITING CENTER, ACADEMIC ADMINISTRATION, AND THE KEYS TO DEGREES SINGLE PARENT PROGRAM. LINE 4C *STUDENT SERVICES* STUDENT SERVICES SUPPORT THE ACADEMIC AND PERSONAL DEVELOPMENT OF EACH STUDENT THROUGH A VARIETY OF OFFICES AND PROGRAMS, INCLUDING STUDENT ACTIVITIES, PERSONAL COUNSELING, HEALTH, COMMUNITY SERVICE, AND ATHLETIC PROGRAMS. EXPERIENCE BEYOND THE CLASSROOM SETTING AFFORDS STUDENTS WITH OPPORTUNITIES TO GAIN A GREATER UNDERSTANDING AND APPRECIATION OF SELF, OTHERS, AND THE WORLD AROUND THEM. THE STUDENT AFFAIRS DIVISION IS DESIGNED TO COMPLEMENT AND SUPPLEMENT THE ACADEMIC EXPERIENCE OF EVERY STUDENT. OTHER FUNCTIONS INCLUDED IN STUDENT SERVICES INCLUDE THE ADMISSIONS, FINANCIAL AID, REGISTRAR, AND CAREER DEVELOPMENT. BOOKSTORE AND VENDING REVENUE IS CONSIDERED RELATED TO STUDENT SERVICES. LINE 4D OTHER PROGRAM SERVICE EXPENSES INCLUDE CONFERENCE AND EDUCATION SERVICES. ENDICOTT COLLEGE PROVIDES FACILITIES AND SERVICES FOR EDUCATIONAL, BUSINESS, AND COMMUNITY EVENTS. ASSOCIATED REVENUES ARE CAREFULLY ANALYZED AND CLASSIFIED AS EITHER RELATED OR EXEMPT FUNCTION REVENUE OR AS UNRELATED BUSINESS REVENUE. IN ADDITION TO CONFERENCE AND EVENTS RELATED REVENUE, OTHER PROGRAM REVENUE INCLUDE PARKING FEES, RECOGNITION OF DEFERRED REVENUE, FORFEITED ENROLLMENT DEPOSITS AND OTHER MISCELLANEOUS RECEIPTS. TRUSTEES IN A BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 2 THOMAS J. ALEXANDER AND WILLIAM F. HOWARD, TRUSTEES FOR THE COLLEGE, AND DR. RICHARD E. WYLIE, PRESIDENT AND TRUSTEE, SERVE ON THE BOARDS OF THE NORTH SHORE CHAMBER OF COMMERCE AND BEVERLY BANK, A LOCAL FINANCIAL INSTITUTION. BOTH DR. WYLIE AND MR. HOWARD SERVE ON THE BOARD OF BEVERLY MAIN STREETS. IN ADDITION, ROBERT R. FANNING AND JOSEPH GRIMALDI, TRUSTEES FOR THE COLLEGE, SERVE ON THE BOARD OF DIRECTORS FOR THE ESSEX COUNTY COMMUNITY FOUNDATION. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11A THE TAX RETURN INFORMATION IS GATHERED FROM THE FINANCE OFFICE AND USED TO POPULATE THE FORM 990 IN CONJUNCTION WITH KPMG, LLP, INDEPENDENT TAX CONSULTANT. ONCE THE DRAFT TAX RETURN IS FULLY ANALYZED AND REVIEWED BY THE MANAGEMENT TEAM, IT IS FORWARDED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. A REPRESENTATIVE OF KPMG'S TAX GROUP ATTENDS THE SCHEDULED MEETING TO ENSURE THAT ALL PERSONS HAVE HAD AN OPPORTUNITY TO ASK QUESTIONS AND DISCUSS THE CONTENT OF THE TAX RETURN. FOLLOWING THE FINANCE COMMITTEE REVIEW AND APPROVAL, IT IS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW, COMMENT, AND APPROVAL PRIOR TO THE FILING OF THE FORM. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C IN 2010, ENDICOTT'S BOARD OF TRUSTEES APPROVED A REVISED POLICY THAT COVERS BOARD OF TRUSTEE MEMBERS, OFFICERS, AND KEY EMPLOYEES. THOSE COVERED IN THE POLICY ARE REQUIRED TO EXECUTE AND SUBMIT TO THE VICE PRESIDENT OF FINANCE AN ANNUAL STATEMENT THAT ACKNOWLEDGES THEY RECEIVED, READ, AND UNDERSTAND THE CONFLICT OF INTEREST POLICY; THEY UNDERSTAND THAT ENDICOTT COLLEGE IS A NOT-FOR-PROFIT ENTITY WHICH MUST NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS; AND THAT THE COLLEGE MUST BE OPERATED FOR THE PURPOSES STATED IN ITS BYLAWS. THEY AGREE TO COMPLY WITH THE POLICY AND ACKNOWLEDGE THAT, EXCEPT AS INDICATED IN THE SPACE PROVIDED ON THE ANNUAL STATEMENT, THEY HAVE NOTHING TO DISCLOSE THAT IS IN CONFLICT WITH THE ESTABLISHED POLICY. SHOULD ANY CHANGE OCCUR IN THEIR SITUATION, THEY WILL SUBMIT A FURTHER STATEMENT COVERING THE MATTER. THE VICE PRESIDENT OF FINANCE WILL FOLLOW THE PROCEDURES SET FORTH IN THE POLICY FOR ANY STATEMENT THAT INCLUDES A DISCLOSURE OF CONFLICT. WHISTLEBLOWER POLICY FORM 990 PART VI, LINE 13 IN 2011, ENDICOTT'S BOARD OF TRUSTEES APPROVED A WHISTLEBLOWER POLICY FOR FACULTY AND STAFF. THE POLICY DEFINES MISCONDUCT AS: ABUSE OF AUTHORITY, UNETHICAL BEHAVIOR, OR GROSS MISCONDUCT; INAPPROPRIATE OR ILLEGAL USE OF COLLEGE FUNDS, SUCH AS THEFT BY BRIBERY OR CORRUPTION; SIGNIFICANT AND SPECIFIC DANGER TO PUBLIC HEALTH OR SAFETY; A VIOLATION OF LAW. FURTHER, THE POLICY STATES THAT REPORTED VIOLATIONS WILL BE PROMPTLY INVESTIGATED AND TREATED CONFIDENTIALLY TO THE EXTENT POSSIBLE AND THE COLLEGE WILL NOT TAKE ANY PERSONNEL ACTION AS RETALIATION AGAINST AN EMPLOYEE WHO DISCLOSES INFORMATION REGARDING MISCONDUCT. EMPLOYEES ARE ENCOURAGED TO REPORT CONCERNS THROUGH AN ANONYMOUS VOICE MAIL BOX OR BY COMPLETING AN ANONYMOUS REPORTING FORM ACCESSIBLE ON THE CAMPUS SAFETY WEB PAGE. STUDENTS ARE ALSO ENCOURAGED TO REPORT ANY ACTIVITY THAT IS TAKING PLACE WITHIN THE ENDICOTT COMMUNITY THAT IS CONTRARY TO THE IDEALS AND VALUES OF THE COLLEGE. CONCERNS ARE REPORTED IN THE SAME MANNER AS FACULTY AND STAFF. COMPENSATION POLICY FORM 990 PART VI, LINE 15 THE COLLEGE'S PROCEDURES FOR DETERMINING COMPENSATION MEET THE REQUIREMENTS OF REBUTTABLE PRESUMPTION. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DUE DILIGENCE OF THE CHIEF EXECUTIVE OFFICER AND SENIOR MANAGEMENT'S COMPENSATION TO ASSURE THAT ENDICOTT COMPLIES WITH IRS REQUIREMENTS FOR NOT-FOR-PROFIT COMPENSATION. THE COMMITTEE REVIEWS AND DISCUSSES COMPENSATION OF COMPARABLE JOBS IN COMPARABLE COLLEGES AND UNIVERSITIES IN THE BOSTON AREA AND NEW ENGLAND. THE PRESIDENT IS COMPENSATED IN ACCORDANCE WITH A MULTI-YEAR COMPENSATION PLAN THAT IS BASED UPON RESEARCH ON COMPENSATION AWARDED TO PRESIDENTS IN SIMILAR INSTITUTIONS, TOGETHER WITH AN APPRAISAL OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT'S PERFORMANCE IS REVIEWED BY THE BOARD ON AN ANNUAL BASIS. THE CONCLUSIONS AND RECOMMENDATIONS OF THE COMPENSATION COMMITTEE ARE REVIEWED AND APPROVED REGULARLY BY THE FULL BOARD. THE MEMBERSHIP OF THE COMPENSATION COMMITTEE IS FREE OF CONFLICT OF INTEREST IN DETERMINING COMPENSATION. THE COMMITTEE ALSO REVIEWS AND GUIDES MANAGEMENT WITH RESPECT TO IMPLEMENTATION OF THE COMPENSATION POLICY FOR ALL OTHER EMPLOYEES. SALARIES ARE REVIEWED AND ADJUSTED ANNUALLY, BASED ON PERFORMANCE (AS MEASURED IN AN ANNUAL PERFORMANCE REVIEW) AND CHANGES IN RESPONSIBILITY. MINUTES OF COMPENSATION COMMITTEE MEETINGS ARE DOCUMENTED. THE ENGAGEMENT OF AN INDEPENDENT COMPENSATION CONSULTANT WAS DISCUSSED IN APRIL 2012, AND A FIRM WAS ENGAGED IN AUGUST 2012 TO COMPLETE AN EXECUTIVE COMPENSATION SURVEY. BASED ON THE AFOREMENTIONED, THE COLLEGE'S PROCEDURES MEET THE REQUIREMENTS OF REBUTTABLE PRESUMPTION. PUBLIC DISCLOSURE FORM 990, PART VI, LINE 19 THE ORGANIZATION'S FORM 990, GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND THE FORM 990 IS POSTED AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 CHANGE IN LIABILITY FOR INTEREST RATE SWAP ($529,063) ENDICOTT COLLEGE-MEXICO CITY CAMPUS RUBEN DARIO NO 30 COL RINCON DEL BOSQUE DEL. MIGUEL HIDAL MX 11580 999999999 EDUCATION MX ENDICOTT C Corp 27225 70390 1.00000 true false false false true false false false false false false false false false false false false false true false ENDICOTT COLLEGE SC- MEXICO CITY CAMPUS d 915467 COST