2015-05-06T09:27:18-07:00 2014-06-30 990 2013-07-01 410694747 CARLETON COLLEGE CARL 5072224000 One North College Street Northfield MN 55057 Frederick A Rogers Vice President and Treasurer 5072224171 2015-04-06 2013 2016-02-25 16:41:14Z Frederick A Rogers One North College Street Northfield MN 55057 189167986 0 X www.carleton.edu X 1866 MN Carleton College is a small, private liberal arts college, located in Northfield, Minnesota, best known for its academic excellence and warm, welcoming campus community. Carleton offers 37 majors and 15 concentrations in the arts, humanities, natural sciences and social sciences. 37 36 3009 4741 241854 0 24900207 27893301 108687657 113314370 42847854 59319240 4092635 4377498 180528353 204904409 32333766 33983589 0 0 69789417 71715351 0 0 4451409 56521118 58559637 158644301 164258577 21884052 40645832 1055244227 1159336985 143494564 139363288 911749663 1019973697 Carleton College's mission is to provide an exceptional undergraduate liberal arts education. The College is devoted to academic excellence, distinguished by the creative interplay of teaching, learning, and scholarship and is dedicated to a diverse residential community and extensive international engagements. 0 0 91124944 33983589 93220041 Instruction - Carleton College exists to provide a high quality liberal arts education for young women and men, preparing them for leadership in their communities, countries and the world. (1994 students). A Student-Faculty Ratio of 9:1 supports them with classroom, laboratory, off-campus study and research opportunities. Average class size is 18. 75.5% of the graduating class of 2014 participated in a study abroad program during their Carleton experience. Student Financial Aid Programs - Carleton meets 100% of the financial need of all admitted students to ensure affordability and accessibility; achieve cultural, racial, ethnic and socioeconomic diversity; and to fund the school's growing commitment to globalization (1671 students) 19050076 0 20094329 Auxiliary Enterprises - Carleton College maintains a rural residential campus to enhance the educational experience of the student body with room and board programs designed to encourage a spirit of collegiality and conversation beyond the classroom and laboratory (1802 students) 15112091 0 0 Student Services Programs: Programs designed to support the Carleton College student life experience including co-curricular and recreational opportunities (1994 students) 15517134 0 0 Academic Support programs enhance the Carleton liberal arts experience with library and information technology resources. (1994 Students) 15517134 0 0 140804245 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 491 0 1 3009 1 1 1 1 AS AU EI FR HK JA NL NZ SF SN SP SW SZ UK 0 0 0 0 0 1 1 1 1 0 X 37 36 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MN NH WA X X X Frederick A Rogers 5072224000 One North College Street Northfield MN 55057 Nina M Archabal Trustee 5.00 0 X 0 0 0 Danielle S Bart Trustee 5.00 0 X 0 0 0 Alan R Bauer Trustee 5.00 0 X 0 0 0 Beth Boosalis Davis Trustee 5.00 0 X 0 0 0 Bill Craine Trustee 5.00 0 X 0 0 0 David M Diamond Trustee 5.00 0 X 0 0 0 Arnold W Donald Trustee 5.00 0 X 0 0 0 Jack W Eugster Trustee 5.00 0 X 0 0 0 Maureen G Gupta Trustee 5.00 0 X 0 0 0 John F Harris Trustee 5.00 0 X 0 0 0 Elise M Holschuh Trustee 5.00 0 X 0 0 0 James E Johnson Trustee 5.00 0 X 0 0 0 Martha H Kaemmer Trustee 5.00 0 X 0 0 0 Leslie B Kautz Trustee 5.00 0 X 0 0 0 Arthur D Kowaloff Trustee 5.00 0 X 0 0 0 Richard B Kracum Trustee 5.00 0 X 0 0 0 Marilyn M McCoy Trustee 5.00 0 X 0 0 0 William R McLaughlin Trustee 5.00 0 X 0 0 0 Bonnie J Melville Trustee 5.00 0 X 0 0 0 Marc Noel Trustee 5.00 0 X 0 0 0 Brad Nordholm Trustee 5.00 0 X 0 0 0 Gary T O'Brien Trustee 5.00 0 X 0 0 0 Catherine J Pagila Trustee 5.00 0 X 0 0 0 Pamela Kiecker Royall Trustee 5.00 0 X 0 0 0 Jack W Schuler Trustee 5.00 0 X 0 0 0 Margaret C Simms Trustee 5.00 0 X 0 0 0 David B Smith Trustee 5.00 0 X 0 0 0 Gary L Sundem Trustee 5.00 0 X 0 0 0 Caesar F Sweitzer Trustee 5.00 0 X 0 0 0 Alan C Thiel Trustee 5.00 0 X 0 0 0 R Kirk Weidner Trustee 5.00 0 X 0 0 0 Wallace R Weitz Trustee 5.00 0 X 0 0 0 Justin B Wender Trustee 5.00 0 X 0 0 0 Bonnie M Wheaton Trustee 5.00 0 X 0 0 0 Michael L Wiebolt Trustee 5.00 0 X 0 0 0 Mark R Williams Trustee 5.00 0 X 0 0 0 Steven G Poskanzer President 60 0 X 408202 0 102446 Frederick A Rogers Vice President and Treasurer 50 0 X 291063 0 40949 Gayle McJunkin Interim VP for External Relations 50 0 X 176807 0 26608 Joe A Hargis II Interim VP for External Relations 40 0 X 161594 0 54523 Beverly Nagel Dean of the College 50 0 X 238468 0 30967 M H Wagner VP Student Development and Dean of Students 40 0 X 186027 0 25840 Paul Thiboutot VP and Dean of Admission/Financial Aid 40 0 X 178173 0 32328 Jason Matz Director of Investments 40 0 X 340490 0 26825 Andrew Christensen Director of Private Markets 40 0 X 208529 0 47239 Louis E Newman Associate Dean of the College 40 0 X 192802 0 35883 Susan Singer Professor of Natural Sciences 40 0 X 177983 0 43300 Joel Weisberg Professor of Physics and Astronomy 40 0 X 173167 0 36533 Donald A Hasseltine Secretary/VP for External Relations 50 0 X 163872 0 40990 2897177 0 544431 110 1 1 0 PCL Construction Services 12200 Nicollet Ave S Burnsville MN 55337 Engineering and project management 3033589 Bon Appetit 100 Hamilton Avenue Suite 400 Palo Alto CA 94301 Food Service 8714010 River City Builders PO Box 7 Nerstrand MN 55053 Construction contractor 1713994 Terra General Contractors LLC 21025 Commerce Blvd Rogers MN 55374 General contractor 895896 Mint Roofing Inc 2285 Daniels Street Long Lake MN 55356 Roofing Contractor 757921 36 0 0 0 0 4036175 23857126 10795350 27893301 Comprehensive fee 611310 113314370 113314370 0 0 0 0 0 0 113314370 4188554 0 0 4188554 0 0 0 0 147378 0 0 147378 266258 0 785332 0 -519074 0 -519074 0 6956 -526030 37814601 0 -17316085 0 55130686 0 55130686 0 0 55130686 0 0 0 0 0 0 0 0 0 0 0 0 1379555 794330 585225 585225 0 0 Summer Academic Programs 611310 1430808 1430808 0 0 Wind Turbine 221000 234898 0 234898 0 Other Auxiliary Enterprises 900003 280533 280533 0 0 2217730 2217730 0 0 4163969 204904409 117828666 241854 58940588 0 0 33983589 33983589 0 0 0 0 1626023 367137 945679 313207 0 0 0 0 52378429 44650759 5274095 2453575 4777732 3964295 539711 273726 9286204 7938688 909687 437829 3646963 3062970 391110 192883 1904307 1266310 541298 96699 42307 0 42307 0 93906 0 93906 0 0 0 0 0 0 0 5501523 0 5501523 0 912885 912885 0 0 75620 8394 64237 2989 4782968 3542169 978630 262169 2121443 1821154 300289 0 0 0 0 6073121 5905983 166077 1061 6489397 6007238 234110 248049 0 0 0 0 454691 373891 50554 30246 3212953 3168138 44815 0 0 0 0 10614735 10287499 327236 0 820572 485738 334834 0 Food Service 6917796 6917796 0 0 Off Campus Studies 5274600 5274600 0 0 Faculty and Staff Recruitment 428158 0 428158 0 Membership fess 350121 0 350121 0 2488534 865012 1484546 138976 164258577 140804245 19002923 4451409 42670896 67752999 14660764 5023195 1935307 1864147 7649564 7835348 878273 752406 2007258 2580666 344665054 152324680 193607090 192340374 292884061 320692767 488172722 548569143 10778292 11925940 1055244227 1159336985 10613030 10968514 5337411 5234797 4782756 4060330 94507979 90806138 28253388 28293509 143494564 139363288 X 378463201 433621542 344875064 388637000 188411398 197715155 911749663 1019973697 1055244227 1159336985 X 40645832 63121777 0 5501523 0 -1045098 X 0 1 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 0 1 0 1 91505 1 0 1 350 0 91855 0 Schedule C, Part II-B, Line 1 College Relations occasionally contact legislators to express the College's views on pending legislation which would affect the College. Costs incurred in connection with these activities are insignificant and no separate account is made for these costs. In addition, students participate in a volunteer activity sponsored by the Minnesota Private Council (MPCC) called "Day at the Capital" to discuss the importance of the State Grant Program with representatives. Costs incurred by the College to support this program are De minimus. Carleton College is a member of Minnesota Private College Council (MPCC), an organization described in section 501(c)(4) of the Internal Revenue Code. MPCC is an association of private nonprofit institutions of higher education that serves a variety of its members' shared needs, included, but not only, nonpartisan and non-electoral advocacy for public policy that meets students' needs and advances the interest of private higher education. Carleton College paid member dues to MPCC in the amount of $127,890 during the taxable year. MPCC has divided its expenses for its taxable year ending June 30, 2014 into two groups. Group 1 consists of those expenses that did not in any way support attempts to influence legislation within the meaning of section 501(c)(3) of the Internal Revenue Code ('lobbying"), and Group 2 consists of all other expenses. Group 2 includes many expenses such as personnel costs that support both lobbying and nonlobbying activities. MPCC did not attempt to allocate the Group 2 expenses between lobbying and nonlobbying activities. MPCC has determined that the amount of the Group 2 expenses represents 71.55% of the amount of dues that MPCC collected in the same taxable year. Assuming that all Group 2 expenses were paid from member dues, and allocating those expenses pro rata based on the dues paid by each member, $91,505 of Carleton College's dues were used to pay Group 2 expenses. The amount of lobbying expenses paid from Carleton College's dues was significantly less than that amount. 79000 79000 0 0 X X X 0 704714660 13311856 116344123 7949318 25719295 6393849 794308177 651655398 11900109 78960412 7611873 25229420 4959966 704714660 666402763 2774503 17724826 7387060 24422145 3437489 651655398 582570193 9469250 109737985 7355446 24886524 3132695 666402763 540722300 17555876 58848146 7240689 24872470 2442970 582570193 0.34 0.43 0.23 1 0 0 4443849 4443849 0 253524489 82189472 171335017 0 0 0 0 0 85531845 70135208 15396637 0 1164871 0 1164871 192340374 0 0 Private Equity 135909683 F Hedge Funds 263484620 F Real Assets 90089738 F Planned Gift Agreements and Other 59085102 F 548569143 0 Annuities Payable 24063062 Asset Retirement Obligation 2628955 Fair Value of Interest Rate SWAP 1601492 28293509 X 232997499 63121777 0 0 -33983589 29138188 203859311 0 1045098 1045098 204904409 124773465 0 0 0 0 0 124773465 5501523 33983589 39485112 164258577 Schedule D, Part III, Line 4 Carleton's Art Collection is for student research and study including College archives of institutionally significant treasures and Library collections. Schedule D, Part V, Line 4 Endowment funds are to support grants to students and the program services of the College. Schedule D, Part X, Line 2 The College qualifies as a tax-exempt nonprofit organization under Section 501(c)(3) of the Internal Revenue Code and similar statutes of Minnesota law. The College is subject to federal income tax only on net unrelated business income under the provisions of Section 501(c)(3) of the Internal Revenue Code. The College has evaluated its tax positions and determined it has no uncertain tax positions and has recorded no obligation for unrelated business income tax. No provisions for federal or state income taxes are required as of June 30, 2014. The College's 2010 through 2013 tax years are open for examination by federal and state taxing authorities. Schedule D, Part XI, Line 2d Scholarships Schedule D, Part XI, Line 4b Net Change in Annuity & Life Income Funds $(3,074,981); Unrealized Gain on Interest Rate Swap $450,221; Rental Expenses $785,332; Bookstore COGS $794,330 Schedule D, Part XII, Line 4b Scholarships 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 uses paper and broadcast media in solicitation of students. We publicize our nondiscriminatory policy in all printed brochures, magazines and application material and website information. Schedule E, Part I, Line 6 Carleton College participates in the Federal Student Financial Aid Program administered through the U.S. Department of Education. Carleton students receive funding from campus-based programs (Perkins, SEOG, and Federal Work Study) as well as Federal Pell Grants and Federal Student Loans. In addition, Carleton students receive funding via the Minnesota State Grant, Work-Study and SELF loan programs administered through the Minnesota Office of Higher Education. Central America and the Caribbean 0 0 Investments 250502744 East Asia and the Pacific 0 0 Program Services Biology - Australia and New Zealand 378881 Europe (including Iceland and Greenland) 0 0 Program Services Identity and Belonging in the New Europe 370451 Europe (including Iceland and Greenland) 0 0 Program Services Sport and Globalization- London and Seville 315725 Europe (including Iceland and Greenland) 0 0 Program Services Geology - New Zealand 359129 Europe (including Iceland and Greenland) 0 0 Program Services English Theater and Literature - London 295762 Europe (including Iceland and Greenland) 0 0 Program Services Irish Literature and Culture - Ireland 255770 Europe (including Iceland and Greenland) 0 0 Program Services Economics in Cambridge 252238 Europe (including Iceland and Greenland) 0 0 Program Services Spanish Studies - Madrid 246350 Europe (including Iceland and Greenland) 0 0 Program Services French Studies - Paris 234741 Europe (including Iceland and Greenland) 0 0 Program Services German Language and Literature - Berlin 188713 East Asia and the Pacific 0 0 Program Services Japanese Linguistics and Culture - Kyoto, Japan 167181 Central America and the Caribbean 0 0 Program Services Social and Cultural Research - Guatemala 164234 Europe (including Iceland and Greenland) 0 0 Program Services Russian Language and Culture - Moscow 136489 0 0 253868408 1 0 0 1 1 0 1 City of Northfield 801 Washington Street Northfield MN 55057 416005424 75000 0 Cash Annual Contribution 0 0 Student Scholarships 1671 33983589 0 Financial Need Schedule I, Part I, Line 2 Grants, scholarships, loans and work-study funds are awarded to students based on demonstrated financial need using nationally recognized needs analysis standards. X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 Steven G Poskanzer President 390080 0 0 0 18122 0 25500 0 76946 0 510648 0 0 0 Frederick A Rogers Vice President and Treasurer 257406 0 0 0 33657 0 25500 0 15449 0 332012 0 0 0 Donald A Hasseltine Secretary/VP for External Relations 272528 0 0 0 17542 0 26789 0 14201 0 331060 0 0 0 Beverly Nagel Dean of the College 236884 0 0 0 1584 0 23795 0 7173 0 269436 0 0 0 M H Wagner VP Student Development and Dean of Students 180828 0 0 0 1092 0 18645 0 7194 0 207759 0 0 0 Paul Thiboutot VP and Dean of Admission/Financial Aid 175689 0 0 0 2484 0 17978 0 14349 0 210500 0 0 0 Gayle McJunkin Interim VP for External Relations 174323 0 0 0 2484 0 17784 0 8823 0 203414 0 0 0 Joe A Hargis II Interim VP for External Relations 159662 0 0 0 1932 0 16812 0 37711 0 216117 0 0 0 Jason Matz Director of Investments 331600 0 0 0 8890 0 25500 0 1325 0 367315 0 0 0 Andrew Christensen Director of Private Markets 207470 0 0 0 1059 0 21823 0 25417 0 255769 0 0 0 Louis E Newman Associate Dean of the College 191470 0 0 0 1332 0 19748 0 16135 0 228685 0 0 0 Susan Singer Professor of Natural Sciences 131999 0 0 0 45984 0 13778 0 29522 0 221283 0 0 0 Joel Weisberg Professor of Physics and Astronomy 139683 0 0 0 33484 0 14547 0 21986 0 209700 0 0 0 Schedule J, Part I, Line 1a President Poskanzer received the following nontaxable benefits: residence on campus with the fair rental value of $48,200 per year; maid/cleaning for personal portion of residence of $7,337. Vice President Rogers received taxable income of $20,540 for housing. A Minnesota Higher Education Facilities Authority Series 6D 410988525 60416HENO 2005-04-13 31460000 Retire Series 3L1 and Series 4N, new student housing 1 0 0 B Minnesota Higher Education Facilities Authority Series 6T 410988525 60416HNH3 2008-12-04 19294728 Cassat and Memorial Hall construction 0 0 0 C Minnesota Higher Education Facilities Authority Series 7D 410988525 60416HRZ9 2010-06-29 31962105 Weitz Center for Creativity rennovation and costruction 0 0 0 A 0 0 31460000 0 0 28123498 336501 0 0 3000000 0 0 2008 0 1 1 1 B 0 0 19294728 0 0 0 291550 0 0 19003178 0 0 2011 0 0 1 1 C 0 0 31962105 0 0 337859 0 0 31624246 0 0 0 2011 0 0 1 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 0 A 0 0 1 0 1 1 Morgan Stanley Capital Services LLC 2022 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 X 2 79000 Appraised Value X 244 9702750 Market Value X 1 850000 Gift Amount X Volunteer Expense 502 163600 Actual 1 0 1 1 Schedule M, Part I, Line 32b The College will retain an attorney for non cash real estate gifts and a broker for publicly traded securities, as needed. Form 990, Part VI, Section B, Line 11b Management presented the 2013 Form 990 in its entirety to the Audit Committee of the Board of Trustees for their review prior to submitting it to the IRS. The 2013 Form 990 is also included on the Board of Trustees website and provided with the Board materials for all members reference. Form 990, Part VI, Section B, Line 12c Officers, trustees, and key employees are required to annually disclose interests that could give rise to conflict. Such interests include a list of family members, substantial business or investment holdings and other transactions or affiliations with businesses or other organizations. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1) The conflicting interest is fully disclosed; 2) the person with the conflict of interest is excluded from the discussion and approval of such transaction; 3) a competitive bid for comparable valuation exists; and 4) the Audit Committee of the Board of Trustees has determined that the transaction is in the best interest of the organization. Form 990, Part VI, Section B, Line 15 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 25 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions last took place in Spring 2014. Form 990, Part VI, Section C, Line 19 Carleton's governing documents, Conflict of Interest policy, and Financial Statements are available on the organization's website and are available up request. Form 990, Part XI, Line 9 Net Change in Annuity & Life Income Funds $(3,074,981); Unrealized Gain on Interest Rate Swap $450,221; Rental Expenses $785,332; Bookstores COGS $794,330 Trust Name Confidential One North College Street Northfield MN 55057 Charitable Remainder Trusts MN N/A T 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0