2015-02-05T15:33:05-06:00 2013-12-31 990 2013-01-01 231352008 The American College AMER 6105261510 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 Neal R Fegely Chief Operating Officer 6105261501 2015-02-05 2013 2016-03-07 17:11:31Z X Robert R Johnson 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 35368058 0 X www.theamericancollege.edu X 1927 PA The mission of The American College is to raise the level of professionalism of its students and, by extension, the financial services industry as a whole. By imparting expert knowledge and by emphasizing that such knowledge must be regularly renewed and ethically applied, the College seeks to strengthen not only its students' professionalism, but also the financial security of individuals, families, businesses, and the societies they serve. 47 46 271 90 0 0 2636708 2574535 28995853 29204727 700767 951929 1243329 2636867 33576657 35368058 0 83406 0 0 16182672 16289857 143810 139978 1911391 14121922 16125594 30448404 32638835 3128253 2729223 57885011 62544994 11375706 8790002 46509305 53754992 X The mission of The American College is to raise the level of professionalism of its students and, by extension, the financial services industry as a whole. By imparting expert knowledge and by emphasizing that such knowledge must be regularly renewed and ethically applied, the College seeks to strengthen not only its students' professionalism, but also the financial security of individuals, families, businesses, and the societies they serve. 0 0 14943237 29688 22794068 Solomon S. Huebner School - The Huebner School administers the curriculum leading to the CLU, ChFC, RHU, REBC, CLF, CASL, RICP, and ChHC professional designations. There are approximately 19,700 students enrolled in these programs. 2304630 1076 3333052 LUTC Program - The LUTC program administers the curriculum leading to the LUTCF and FSS professional designations. There are approximately 5,600 students enrolled in these programs. 2142351 52642 2509824 Richard D. Irwin School of Management and Doctoral Program - The Irwin School administers the curriculum leading to the Master of Science degrees. Specialities are offerred in Financial Planning and Advanced Leadership. There are approximately 900 students in the Graduate School. The Doctoral Program provides a PhD in Financial and Retirement Planning. There are currently 29 students in this program. 556849 552239 Integrated Learning Platform - Provides customized training and education to client companies in the financial services arena utilizing the College's resources. 807676 15454 Chartered Financial Analyst - The College provides products and instructor led sessions to prepare candidates for the CFA examination. There are currently 50 candidates using College provided materials and instruction to prepare for this three-part examination. 1364525 567693 20754743 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 252 0 1 271 1 0 0 0 0 0 0 0 0 0 0 X 47 46 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CO KY MD MA MI NH NY OH OK OR WA X John G Wells Treasurer 6105261510 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 David M Anderson Trustee 1.00 X 0 0 0 Michael A Bell Trustee 1.00 X 0 0 0 Wendy A Benson Trustee 1.00 X 0 0 0 Lee V Bethel Trustee 1.00 X 0 0 0 Christopher O Blunt Trustee 1.00 X 0 0 0 Peter C Browne Trustee 1.00 X 0 0 0 Edward W Cassidy Trustee 1.00 X 0 0 0 Nicholas M Cecere Trustee 1.00 X 0 0 0 George I Connolly Trustee 1.00 X 0 0 0 Susan M Cooper Trustee 1.00 X 0 0 0 Michael J Corey Trustee 1.00 X 0 0 0 Ralph L Crews Trustee 1.00 X 0 0 0 Michael C Davidson Trustee 1.00 X 0 0 0 J Scott Davison Trustee 1.00 X 0 0 0 Caroline Feeney Trustee 1.00 X 0 0 0 Anthony M Garcia Trustee 1.00 X 0 0 0 Peter A Golato Trustee 1.00 X X 0 0 0 Randall H Harbert Trustee 1.00 X 0 0 0 Thomas H Harris Trustee 1.00 X 0 0 0 John L Haver Trustee 1.00 X 0 0 0 Gary T Huffman Trustee 1.00 X 0 0 0 Fred H Jonske Trustee 1.00 X 0 0 0 Michael L Kalen Trustee 1.00 X 0 0 0 Terri R Kallsen Trustee 1.00 X 0 0 0 Paul A LaPiana Trustee 1.00 X 0 0 0 James J Meehan Trustee 1.00 X X 0 0 0 James A Mitchell Trustee 1.00 X 0 0 0 Linda S Need Trustee 1.00 X X 0 0 0 Scott R Perry Trustee 1.00 X 0 0 0 Robert B Plybon Trustee 1.00 X 0 0 0 Reginald N Rabjohns Trustee 1.00 X 0 0 0 Phillip C Richards Trustee 1.00 X 0 0 0 Michael Rosenzweig Trustee 1.00 X 0 0 0 Albert J Schiff Trustee 1.00 X 0 0 0 Todd M Schoon Trustee 1.00 X X 0 0 0 Robert D Shapiro Trustee 1.00 X 0 0 0 Frederick J Sievert Trustee 1.00 X 0 0 0 Nikki L Sorum Trustee 1.00 X 0 0 0 Jon S Stenberg Trustee 1.00 X 0 0 0 Thomas P Tooley Trustee 1.00 X 0 0 0 Leo C Tucker Trustee 1.00 X 0 0 0 Michael J Vietri Trustee 1.00 X 0 0 0 Robert J Wernecke Trustee 1.00 X 0 0 0 Doyle J Williams Trustee 1.00 X 0 0 0 Charles J Wright Trustee 1.00 X 0 0 0 Robert Wright Trustee 1.00 X 0 0 0 Laurence Barton President & CEO 39.00 1.00 X 1328548 0 27786 Neal R Fegely Chief Operating Officer 39.00 1.00 X 350404 0 27871 John G Wells Treasurer & Controller 40.00 X 104877 0 8779 Walter Woerheide Vice President and Academic Dean 40.00 X 240623 0 28206 Jack Hondros Chief Marketing Officer 40.00 X 282913 0 29540 Stephen D Tarr Senior Vice President 40.00 X 173550 0 22374 Edward McEvoy Chief Technology Officer 40.00 X 200899 0 15261 Charles Cronin Senior Vice President - Advancement 39.00 1.00 X 224888 0 13276 Glenn Boseman Dean - Graduate School 40.00 X 245372 0 19371 Paul Tanella Vice President - Sales 40.00 X 234487 0 11025 David Littell Director - New York Life Retirement Center 40.00 X 244518 0 15331 Craig Lemoine Assistant Professor of Finance 40.00 X 250654 0 12789 Phillip Cubeta Assistant Professor of Philanthropy 40.00 X 185298 0 11640 4067031 0 243249 29 0 1 0 Evans Continental LLC 3649 W Road Signal Mountain TN 37377 Strategic consulting 166166 Allen McLellan 1405 North Red Maple Way Downingtown PA 19335 Academic consulting 143808 Mercer Inc PO Box 730182 Dallas TX 753750182 Investment consulting 137500 Dechert LLP PO Box 7247-6643 Philadelphia PA 191706643 Legal services 135626 Oberon Technologies Inc PO Box 428 Saline MI 48176 Academic consulting 120086 6 2574535 63417 2574535 Solomon S. Huebner Sch 611310 22794068 22794068 LUTC Program 611310 3333052 3333052 Richard D. Irwin Schoo 611310 2509824 2509824 Customized Consulting 611310 552329 552329 Chartered Financial An 611310 15454 15454 29204727 951929 951929 PACE fees 611310 1095401 1095401 Conferment fees 611310 863312 863312 Ethics membership fees 611310 201000 201000 477154 477154 2636867 35368058 31841594 0 951929 83406 83406 1884367 1884367 1243656 268159 747221 228276 10107435 8040384 1405396 661655 1209978 1209978 853407 2206737 -1558661 205331 991014 991014 372291 186003 186288 76004 76004 139978 139978 1521282 1053700 420382 47200 1406097 1337214 14656 54227 311908 304203 -20883 28588 808138 757363 50775 116554 116554 1825009 59171 1765838 503565 263749 145116 94700 5465245 4834764 394362 236119 272 272 1030460 1030460 333149 268 133587 199294 Printing and publicatio 977993 963082 14911 0 Bank service charges 434262 0 434262 0 Bad debt expense 244186 11991 232195 0 Professional developmen 214206 121961 90900 1345 484973 146034 324261 14678 32638835 20754743 9972701 1911391 13875795 14472220 0 5456202 3866489 3361384 2962827 329097 475223 800913 709625 17944665 14844465 3037846 3100200 28550028 34259253 2473746 2699157 57885011 62544994 5631647 5869926 1396942 879473 4347117 2040603 11375706 8790002 X 37251053 43470425 9258252 10284567 46509305 53754992 57885011 62544994 X 2729223 1522643 2993821 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 8242 8242 32630593 32638835 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 19440 2937 7319 8242 37938 250000 250000 250000 250000 1000000 1500000 Part I-A, Line 1 The College worked with organizations including trade associations in opposition to proposed legislation that would adversely impact one or more of its designations. 43310907 3540277 3952710 995466 49808428 34956582 5642329 3687000 975004 43310907 34827356 1711521 -301942 1280353 34956582 31985325 380624 3087692 626285 34827356 25984363 2165832 5124590 1289460 31985325 0.35110 0.50640 0.14250 0 1 1 4454935 2570819 1884116 13489730 12273646 1216084 3100200 University City Science Center stock 1000 C Investment portfolio 34258253 F 34259253 Annuity obligation 196548 Accrued pension costs 1844055 2040603 X 38104597 1522643 1213896 2736539 35368058 0 35368058 32638835 0 32638835 0 32638835 Part X, Line 2: The American College and the Foundation are organized under Section 501(c)(3) of the Internal Revenue Code as not-for-profit organizations and are exempt from federal income taxes and from state and local taxes under comparable laws. The College follows the provisions of the Financial Accounting Standards Board's Accounting Standards Codification (ASC) Topic 740-10-05 relating to the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. Management has analyzed the tax positions taken by the College, and has concluded that as of December 31, 2013 and 2012, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The College recognizes accrued interest and penalties associated with uncertain tax positions, if any. There was no income tax related interest or penalties recorded for the years ended December 31, 2013 and 2012. The income tax returns of the College for the years ended December 31, 2010, 2011 and 2012 are subject to examination by the Internal Revenue Service and other taxing authorities, generally for three years after they were filed. Part XI, Line 2d - Other Adjustments: Transfer of net assets from the American College Foundation - EIN 23-301513 1020392. Increase in life insurance cash value 193504. 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The non-discrimination policy is published in our brochures, on our admission and matriculation forms, and appears on the College's website as part of its privacy policy. Schedule E, Part I, Line 4 The American College neither requests nor requires ethnic or gender information from students who are matriculating or enrolling for courses at the graduate or designation level. The American College neither requests nor requires ethnic or gender information from students who are applying for scholarships to its designation or graduate programs. X X X 0 Harris Connect 1511 Rt 22 - Suite C-25 Brewster NY 10509 Phone solicitation 0 77347 124463 -47116 Schultz & Williams Inc 325 Chestnut St Suite 700 Philadelphia PA 191062422 Campaign consulting 0 0 15515 -15515 77347 139978 -62631 AL AK AZ AR CO CT FL GA HI IL KS KY LA MN MD ME MA MI MO MS NH NM NJ NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI CA 1 Tuition assistance 49 83405 Part I, Line 2: The College uses Academic Works software, an excel spreadsheet, and a series of contracts within its billing system to track and maintain activity for recipients of tuition assistance. X 1 1 X X X X 0 0 0 1 0 1 0 0 0 Laurence Barton President & CEO 542308 0 150000 0 636240 0 14946 0 12840 0 1356334 0 0 0 Neal R Fegely Chief Operating Officer 288500 0 50000 0 11904 0 16575 0 11296 0 378275 0 0 0 Walter Woerheide Vice President and Academic Dean 177490 0 0 0 63133 0 14199 0 14007 0 268829 0 0 0 Jack Hondros Chief Marketing Officer 220000 0 70000 0 -7087 0 17600 0 11940 0 312453 0 0 0 Stephen D Tarr Senior Vice President 161716 0 25000 0 -13166 0 10698 0 11676 0 195924 0 0 0 Edward McEvoy Chief Technology Officer 171731 0 25000 0 4168 0 13739 0 1522 0 216160 0 0 0 Charles Cronin Senior Vice President - Advancement 180000 0 35000 0 9888 0 11700 0 1576 0 238164 0 0 0 Glenn Boseman Dean - Graduate School 174382 0 0 0 70990 0 13951 0 5420 0 264743 0 0 0 Paul Tanella Vice President - Sales 150104 0 64700 0 19683 0 9673 0 1352 0 245512 0 0 0 David Littell Director - New York Life Retirement 111077 0 0 0 133441 0 8886 0 6445 0 259849 0 0 0 Craig Lemoine Assistant Professor of Finance 115391 0 0 0 135263 0 6638 0 6151 0 263443 0 0 0 Phillip Cubeta Assistant Professor of Philanthropy 181105 0 0 0 4193 0 10055 0 1585 0 196938 0 0 0 Part I, Line 1a Part I, Line 1a; The President & CEO's spouse accompanies him on trips to Board meetings and other events where she entertains trustee spouses, holding breakfasts, lunches, and leading tours and other outings. The President & CEO must obtain approval from the Board Chairman each time his spouse accompanies him. Part I, Line 3 The College's Compensation Committee, composed of Board members, determines the base compensation and annual incentive award of the President & CEO as well as other payouts for both the President & CEO and the COO and select senior management. This process involves evaluating payments proposed by the President & CEO and using an independent compensation consultant as needed. Part I, Line 5 The President & CEO, COO, and CMO (Chief Marketing Officer) have a three year performance incentive plan that runs from January 1, 2011 through December 31, 2013. The plan consists of 7 distinct elements and includes meeting consolidated revenue and operating margin targets (including both the College and The American College Foundation EIN 23-3015130) as two of the criteria which are weighted between 15% and 30% of the elements of the plan. The covered individuals must be on staff as of December 31, 2013 in order to be eligible for an award that will be payable in 2014 through 2016. Due to special circumstances, the Compensation Committee authorized the payout of the 2011-13 performance incentive to the President & CEO in December 2013. Part I, Line 6 The President & CEO, COO, and CMO (Chief Marketing Officer) have a three year performance incentive plan that runs from January 1, 2011 through December 31, 2013. The plan consists of 7 distinct elements and includes meeting consolidated revenue and operating margin targets (including both the College and The American College Foundation EIN 23-3015130) as two of the criteria which are weighted between 15% and 30% of the elements of the plan. The covered individuals must be on staff as of December 31, 2013 in order to be eligible for an award that will be payable in 2014 through 2016. Due to special circumstances, the Compensation Committee authorized the payout of the 2011-13 performance incentive to the President & CEO in December 2013. Part II Col B (iii) explanation - Laurence Barton, President & CEO Other reportable compensation detail: 1. $629,800 - Payment for 2011-13 multi-year incentive 2. $6,440 - Additional compensation for teaching various programs not included in the base salary. Total Other Reportable Compensation is $636,240. The President & CEO is not compensated for his additional role as Professor of Management. X 3 63417 Daily pricing - NYSE 0 1 0 Form 990, Part VI, Section B, line 11 The Form 990 is completed by Finance staff and reviewed by the Chief Operating Officer for accuracy and completeness. It is then reviewed by the College's independent auditors. Once these steps are completed, it is presented to the College's Board of Trustees for their review. This process involves sending the completed form along with relevant instructions and explanations and following up with a Board-wide conference call question and answer session. Once this process has been completed, the Form 990 is electronically filed. Form 990, Part VI, Section B, line 12c All members of the College's Board of Trustees and defined administrative employees are required to complete the conflict of interest form annually. The returned forms are tabulated to ensure 100% response. The results of the responses are communicated to the Audit Committee by the Chief Operating Officer. Any positive responses are reviewed by the Audit Committee and independent auditors and appropriate action is recommended. Form 990, Part VI, Section B, line 15 The College has a relationship with an independent compensation consultant who provides information as requested by the Compensation Committee for deliberation. Annually, the Compensation Committee will approve the compensation of the President & CEO and select senior staff with input from the independent consultant. The President & CEO will recommend and obtain Board approval for the compensation for the key employees/disqualified persons. Historically, the data is compared with data provided by the compensation consultant. If there are any concerns, the Committee would contact the compensation consultant. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Form 990, Part XI, line 9: Net assets transferred from the American College Foundation - #23-3015130 1020392. Decrease in minimum pension liability 1780054. Increase in life insurance policy cash values 193375. The American College Foundation 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 233015130 Solicit and manage funds for the benefit of The American College PA 501(c)(3) Line 11a, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1