2015-11-11T15:09:12-07:00 2015-06-30 990 2014-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 Grapevine Road Wenham MA 01984 Michael Ahearn Vice President for Finance 9788674038 2015-11-11 2014 2016-02-25 16:41:14Z D Michael Lindsay Gordon College 255 Grapevine Road Wenham MA 01984 95357018 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. 28 23 995 28 0 0 8552250 9284257 74319684 77738922 1671872 2003239 6042 134492 84549848 89160910 21763587 24006933 0 0 36118851 38180121 0 0 2800677 26695316 25990493 84577754 88177547 -27906 983363 121175236 118852324 52242822 50256374 68932414 68595950 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 58392268 23980995 59376704 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 1736 students is drawn from 41 states and 39 countries. In 2014-15, Gordon College issued 382 undergraduate degrees (with a six-year graduation rate of 71%). Gordon had a faculty to student ratio of 13 to 1 with 68% of the students from outside Massachusetts. Of the 97 full-time faculty, 88% have earned doctorates. Gordon College students can take advantage of a wide variety of off-campus programs, both domestic and abroad. During 2014-15, 162 students participated in off-campus programs and short-term international seminars. 17236469 0 16514708 Auxiliary programs related to the educational process for dormitory housing, food service, bookstore, Lavida outdoor experience, balance and mobility center, summer athletic camps and other summer programs. There were 1418 resident students in the fall semester 2014 and 1337 in the spring semester 2015. 1148118 25938 1847510 Higher Education: Gordon College has graduate programs in education and music education conferring degrees in Masters of Education and Masters of Music Education. In 2014-15, the total of unduplicated graduate students was 577 drawn from 12 states and 11 countries. Gordon College conferred 72 masters' degrees in 2014. 0 0 0 76776855 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 1 1 0 0 0 1 351 0 1 995 1 0 1 IT 0 0 0 0 0 0 0 0 X 28 23 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 Chairman of the Board 5 X 0 0 0 Herman J Smith Jr Vice Chair 5 X 0 0 0 Bradford Warner Treasurer and Clerk 5 X 0 0 0 David Beatty Trustee 2 X 0 0 0 Timothy Breene Trustee 2 X 0 0 0 David Cameron Trustee 1 X 0 0 0 Daniel Cho Trustee 1 X 0 0 0 Dr Judith M Dean Trustee 1 X 0 0 0 Laura Fastie-Grapshi Trustee 1 X 0 0 0 Lisa Forkner Trustee 2 X 0 0 0 Dr Marla Frederick Trustee 1 X 0 0 0 Dr John M Gurley Trustee 1 X 0 0 0 Gordon T Hall Trustee 1 X 0 0 0 Cherie S Harder Trustee 1 X 0 0 0 Peter Herschend Trustee 1 X 0 0 0 Dr Stuart Knechtle Trustee 1 X 0 0 0 Rev Raymond Lee Trustee 1 X 0 0 0 Bronwyn Loring Assistant Clerk 5 X 0 0 0 Rev Dr Roberto Miranda Trustee 1 X 0 0 0 Thomas L Phillips Trustee 2 X 0 0 0 Rev Samuel Schreiner III Trustee 1 X 0 0 0 Santiago Sedaca Trustee 1 X 0 0 0 Mary M Shahian Trustee 1 X 0 0 0 Aaron Shin Trustee 1 X 0 0 0 Dr Carrie Tibbles Trustee 2 X 0 0 0 Myron Ullman Trustee 1 X 0 0 0 Kirk Ware Trustee 1 X 0 0 0 Suannah Young Trustee 1 X 0 0 0 D Michael Lindsay President 60 0 X 307966 0 72012 Michael Ahearn Vice President for Finance and Administration 60 0 X 164173 0 46252 Janel Curry Provost 60 0 X 162837 0 21456 Daniel Tymann Executive Vice President 60 0 X 167085 0 27204 Stanley Gaede Scholar in Residence 60 0 X 118128 0 21922 James Pocock Counselor to the President 60 0 X 110586 0 23212 Janet Arndt Director of Graduate Program in Education 60 0 X 106753 0 14220 L Daniel Russ Academic Dean and Professor of English 60 0 X 103386 0 21710 Richard Sweeney Vice President for Marketing & Strategic Communications 60 0 X 133087 0 92732 1374001 0 340720 10 0 1 0 Nagog Real Estate Consulting Corp 530 Great Road Acton MA 01720 Building Renovation 1299200 Wellington Trust Company 75 State Street Boston MA 02109 Investment Management 212649 McLean Painting Company 10 Rainbow Terrace Unit B Danvers MA 01923 Painting contractor 199704 Tisevich Builders 56 Alderwood Avenue Stratham NH 03885 Building contractor 192608 Grant Thornton LLP 33960 Treasury Center Chicago IL 60694 Auditing 174736 6 0 0 0 0 450801 8833456 702779 9284257 Tuition & Fees 611310 60372076 60372076 0 0 Residence Hall Revenue 611310 9708312 9708312 0 0 Board Plan 611310 3852427 3852427 0 0 Summer Programs 611310 632091 632091 0 0 Balance and Mobility Center 621340 631795 631795 0 0 2542221 2542221 0 0 77738922 645041 0 0 645041 0 0 0 0 349 0 0 349 134143 0 0 0 134143 0 134143 0 0 134143 7543306 11000 6196108 0 1347198 11000 1358198 0 0 1358198 0 0 89160910 77738922 0 2137731 0 0 21479311 21479311 2527622 2527622 0 0 945119 0 935149 9970 161317 143199 22 18096 27070115 20212802 5466352 1390961 1069548 798099 212349 59100 7039625 5050027 1612434 377164 1894397 1366024 427056 101317 0 0 0 0 53418 0 53418 0 93962 0 93962 0 0 0 0 0 0 0 219748 0 219748 0 4334570 2394612 1868220 71738 243342 109841 1529 131972 2781972 1884206 726831 170935 1304544 749931 554393 220 0 0 0 0 4633989 4487446 118818 27725 2949576 2516418 254001 179157 0 0 0 0 40243 30254 8774 1215 0 0 0 0 0 0 0 0 5930095 5571481 324191 34423 304545 111217 191053 2275 Allocation of Physical Plant 0 4435087 -4446905 11818 Food Service 1936342 1936342 0 0 Special Events 741724 383633 161940 196151 Student Organizations 290499 290499 0 0 131924 298804 -183320 16440 88177547 76776855 8600015 2800677 946906 1310966 2083129 94232 7095986 7341423 1781228 1806955 0 0 0 0 0 0 84753 69908 613103 826896 163250580 99736066 63142889 63514514 8972907 8814526 31421428 30934958 3002505 3170575 0 0 2030402 967371 121175236 118852324 2541170 1248100 0 0 1460830 2043437 37650000 36580000 302865 365145 0 0 1567432 1125295 0 0 8720525 8894397 52242822 50256374 X 26332523 25880027 17607526 16616294 24992365 26099629 68932414 68595950 121175236 118852324 X 983363 -961427 0 0 0 -358400 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 88177547 88177547 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 1237 0 0 0 1237 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X 0 0 1 X 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 29062217 1075726 4071953 751459 585442 0 32872995 0.242 0.589 0.169 0 0 0 1194072 1194072 0 122978228 64975799 58002429 0 0 0 0 0 27773726 24485778 3287948 0 11304554 10274489 1030065 63514514 30934958 F 30934958 Conditional Asset Retirement Obligation 366627 Fair Value Interest Rate Swap 4740864 Perkins Loan Advances 2627350 Annuity Payment Obligations 1159556 8894397 X 64217773 -961427 0 0 188033 -773394 64991167 219748 23949995 24169743 89160910 64554237 0 0 0 267408 267408 64286829 219748 23670970 23890718 88177547 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, or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. 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 65% of appropriated revenues this year were in scholarship awards. 21% of revenues supported general activities and physical plant. The remaining 14% 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 4.5% of the 3 year rolling average of the fair market value of the investments. Schedule D, Part X, Line 2 The College is a not-for-profit organization as 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 required to assess uncertain tax positions and has determined that there were no such positions that are material to 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. Schedule D, Part XI, Line 4b - Included here are: scholarships and grants of 23,499,194 treated as tuition discount on the financial statements; FSEOG and FWS of 450,801 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; change in fair value of interest rate swap agreements of 79,375. Schedule D, Part XII, Line 4b Included here are: scholarships and grants of 23,499,194 treated as tuition discount on the financial statements; FSEOG and FWS of 450,801 treated as pass through activity on the financial statements and not reflected in expense; change in fair value of split interest agreements of $<279,025>. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 We draw a substantial percentage of our students from New England and the northeastern States but also draw students nationally and worldwide. We follow a racially nondiscriminatory policy as to our students. Because of this, we believe that the publicity requirement is satisfied by complying with section 4.02. Because we are an interdenominational Christian college, our market appeal is to a smaller segment of the general population. 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 Europe (including Iceland and Greenland) Grantmaking 48232 Central America and the Caribbean Grantmaking 161020 South Asia Grantmaking 230430 Sub-Saharan Africa Grantmaking 301273 East Asia and the Pacific Grantmaking 1510667 North America (including Canada and Mexico, but not the United States) Grantmaking 64000 South America Grantmaking 188000 Middle East and North Africa Grantmaking 24000 Europe (including Iceland and Greenland) 1 24 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. 1353720 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. 13460 South Asia 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. 2740 Middle East and North Africa 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. 23318 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. 113072 East Asia and the Pacific 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. 161011 South America 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. 48970 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. 28591 Central America and the Caribbean 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. 108352 South Asia 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. 51970 Middle East and North Africa 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. 2975 Sub-Saharan Africa 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. 43543 East Asia and the Pacific 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. 16025 North America (including Canada and Mexico, but not the United States) 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. 6584 East Asia and the Pacific Fundraising 19163 East Asia and the Pacific Program Services The President traveled on behalf of the College for student recruitment and program development. 60728 1 24 4581844 Scholarships and grants Europe (including Iceland and Greenland) 2 48232 credit to student bill 0 Scholarships and grants Central America and the Caribbean 8 161020 credit to student bill 0 Scholarships and grants South Asia 9 230430 credit to student bill 0 Scholarships and grants Middle East and North Africa 2 24000 credit to student bill 0 Scholarships and grants Sub-Saharan Africa 13 301273 credit to student bill 0 Scholarships and grants East Asia and the Pacific 72 1510667 credit to student bill 0 Scholarships and grants North America (including Canada and Mexico, but not the United States) 4 64000 credit to student bill 0 Scholarships and grants South America 8 188000 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. 1 Scholarships and grants to Gordon College students 1527 20999010 0 Federal SEOG Grants 327 162460 Federal Work-Study Awards 478 206033 Federal Teach Grant 25 82308 Dr Marvin Wilson Award for Teaching 1 1000 AJG Mission Fellowship Award 5 5000 Christian Vocational Institute Award 11 13500 Invitation to Leadership Award 6 10000 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 1 0 D Michael Lindsay President 272086 0 35000 0 880 0 13000 0 59012 0 379978 0 0 Michael Ahearn Vice President for Finance and Administration 151157 0 11000 0 2016 0 8334 0 37918 0 210425 0 0 0 Daniel Tymann Executive Vice President 150075 0 13000 0 4010 0 8695 0 18509 0 194289 0 0 0 Janel Curry Provost 150810 0 11000 0 1027 0 8422 0 13034 0 184293 0 0 0 Richard Sweeney Vice President for Marketing & Strategic Communications 119488 0 13000 0 599 0 6977 0 85755 0 225819 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. Schedule J, Part I, Line 7 Officers were given bonuses for exceeding the goals and expectations assigned them for the year. Recommendations for bonuses are made by the President to the executive committee of the board. The executive committee of the board reviews and approves the bonuses. 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 NA not required for colleges NA not required for colleges 120900 Scholarships and grants Merit scholarships Jonathan Tymann brother of Executive Vice President 142155 Employment compensation 0 Rebecca Lindsay spouse of President 18096 Employment compensation 0 Nagog Real Estate Consulting Corp Company more than 35% controlled by trustee 1151800 Independent contractor on renovation project 0 Schedule L, Part IV Two relatives of officers are also employed by Gordon College. Kirk Ware, one of our trustees, is an officer of Nagog Real Estate Consulting Corp and has more than 35% control. Nagog was hired by the College to renovate a campus building. X 431 0 NA X 0 cost of donated property X 0 cost of donated property X 45 702779 Fair market value on date of receipt X Generator 1 0 cost of donated property X Camera video equipment 1 0 cost of donated property 1 0 1 0 Schedule M, Part I, Line 33 Line 1: 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 4, 5 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 2015. 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 (279,025) Interest rate swap fair value adjustment (79,375) 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