2015-05-13T15:07:56-05:00 2014-06-30 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2013-07-01 042103731 Merrimack College % WILLIAM KLINE MERR 9788375000 315 Turnpike Street Suite North Andover MA 01845 William Kline VP of Finance and CFO 9788375000 2015-02-09 true Robert J Butler jr P00037953 9788375000 2013 2016-02-25 16:41:14Z Christopher Hopey 315 Turnpike Street North Andover MA 01845 129103062 false X www.merrimack.edu X 1947 MA to prepare students to adapt creatively tomorrow's tomorrow's realities through excellence in the liberal arts, sciences, and the professions. 29 28 1711 53 1014687 -249087 3189647 4386734 98731497 116393196 1317433 2751303 3030891 3593522 106269468 127124755 32457944 38549202 0 0 42155653 45720937 0 0 1928426 30602077 36845749 105215674 121115888 1053794 6008867 155591280 168103963 89355436 90729620 66235844 77374343 X INSPIRED BY THE CATHOLIC FAITH AND THE AUGUSTINIAN TRADITION, OUR VISION IS TO: A. PREPARE STUDENTS TO ADAPT CREATIVELY TO TOMORROW'S REALITIES THROUGH EXCELLENCE IN THE LIBERAL ARTS, SCIENCES, AND THE PROFESSIONS. B. BUILD A COMMUNITY OF SCHOLARS WELCOMING AND RESPECTING A DIVERSITY OF BACKGROUNDS, EXPERIENCES, BELIEFS, AND PERSPECTIVES. C. CULTIVATE THE INTELLECTUAL, MORAL, SPIRITUAL, PHYSICAL, AND PERSONAL AWARENESS NEEDED TO MAKE WISE CHOICES FOR LIFE, CAREER, AND SERVICE. D. ENCOURAGE AND SUPPORT SCHOLARLY WORK THAT CONTRIBUTES TO THE WISDOM ON WHICH SOCIETY BASES ITS DECISIONS. E. ENGAGE OTHER EDUCATIONAL INSTITUTIONS, INDUSTRIES, AND AGENCIES OF SOCIAL CHANGE IN COLLABORATIVE EFFORTS FOSTERING A JUST, PEACEFUL, AND SUSTAINABLE WORLD. false false 65378116 38549202 93523847 Educational instruction: Merrimack college offers undergraduate degrees in the liberal arts, business, science and engineering, and education programs in addition to offering masters programs in education and a range of certificate, licensure, and degree completion offerings. The college community includes approximately 2,603 day undergraduate students, 195 evening undergraduate students, and 309 graduate students. 16252888 22869349 Auxiliary services: a primarily residential college, Merrimack houses students in a variety of living arrangements, from residence halls for first-year students to apartments for seniors. Residential life provides a living/learning environment, promoting personal growth and encouraging students to develop their whole selves. Merrimack dining service seeks to provide the finest quality meals and services to the entire Merrimack community, students, faculty, staff, and guests. The college also has athletic facilities, including baseball, softball, football, basketball, and an ice arena. 18816602 Student services: Merrimack College provides various services to the student body, including counseling, career guidance, financial aid, registrar, student activities, campus ministry, health services and athletic programs. 7658769 Academic Support Expenditures 7658769 108106375 true true false true false false false false false true true false false true true true true false true false true false true false true false false false true true true false false false false false false false false false false true false false false false false false false false true 4195 0 true 1711 true true true false false false false true true false false false false X 29 28 true true false false false false false true true false false true true true true true true true true false MA X X WILLIAM KLINE 9788375134 315 TURNPIKE STREET North Andover MA 01845 Christopher Hopey President 40.0 X X 498282 0 45205 Timothy R Murphy Chairman 1.0 X X 0 0 0 Michael K Crowe Vice Chair 1.0 X X 0 0 0 Gary N McCloskey Vice Chair 1.0 X X 0 0 0 Marybeth Mcinnis Secretary 1.0 X X 0 0 0 Patrick B Maraghy Treasurer 1.0 X X 0 0 0 Rev Anthony M Genovese Trustee 1.0 X 0 0 0 Alfred J Arcidi Trustee 1.0 X 0 0 0 Philip M Arcidi Trustee 1.0 X 0 0 0 John T Boyce Trustee 1.0 X 0 0 0 Thomas Carroll Trustee 1.0 X 0 0 0 Rev Peter M Donohue Trustee 1.0 X 0 0 0 F Ken Duane Trustee 1.0 X 0 0 0 Rev Joseph L Farrell Trustee 1.0 X 0 0 0 Mary Gorham Franco Trustee 1.0 X 0 0 0 Rev William T Garland Trustee 1.0 X 0 0 0 Paul Jordan Trustee 1.0 X 0 0 0 Karen Kalil-Brown Trustee 1.0 X 0 0 0 Thomas J Kinton Jr Trustee 1.0 X 0 0 0 William P Leahy Trustee 1.0 X 0 0 0 Timothy McCoy Trustee 1.0 X 0 0 0 Brian Mitchell Trustee 1.0 X 0 0 0 Hoffsman Opsino Trustee 1.0 X 0 0 0 Jack Pasini Trustee 1.0 X 0 0 0 Andrea Robertson Trustee 1.0 X 0 0 0 Michael E Shunney Trustee 1.0 X 0 0 0 Lee D Slattery Trustee 1.0 X 0 0 0 Martin L Smith OSA Trustee 1.0 X 0 0 0 Carlos Urbina OSA Trustee 1.0 X 0 0 0 William Kline VP of Finance and CFO 40.0 X 144644 0 26798 Alexa Abowitz VP of Admin and Legal Counsel 40.0 X 201603 0 32347 Jeffrey Doggett Chief Operating Officer 40.0 X 200623 0 18860 Josephine Modica-Napolitano Interim Provost 40.0 X 231102 0 18398 Mark Dennehy Asst Ath Dir. & Hockey Coach 40.0 X 219242 0 40391 Mark Cordano Dean Girard Business School 40.0 X 185754 0 23436 Linda Murphy Asst VP of Admin & Personnel 40.0 X 163950 0 13927 Courtney Luongo Asst VP of Individual Giving 40.0 X 154613 0 2168 1999813 0 221530 40 false true false Grant Thornton 75 State Street BOSTON MA 02109 Accounting 687763 Brothers of the Order of Hermits 196 Elm Street ANDOVER MA 01810 Adm & Instructional 383278 Jenzabar Inc PO Box 845939 BOSTON MA 02284 IT Services 244694 Holland Knight 10 St James Avenue BOSTON MA 02116 Legal 244681 Eduventures Inc 800 Boylston Street BOSTON MA 02199 Consulting 150120 13 18000 1188986 3179748 38417 4386734 TUITION AND FEES 611710 93523847 93523847 ROOM AND BOARD 721000 22869349 22869349 116393196 1375185 1375185 0 0 0 0 0 3329659 1933443 20098 1396216 -20098 1376118 1376118 34640 18000 24766 9874 9874 0 0 ATHLETIC EVENT TICKET SALES 900099 246466 246466 CONFERENCE & EVENT RENTALS 900099 389577 389577 ICE RINK RENTALS 900099 625110 625110 2322495 2322495 3583648 127124755 118962157 1014687 2761177 0 38221133 38221133 328069 328069 0 1332633 910464 145439 276730 0 34853779 30053044 3982068 818667 1979457 1644103 275568 59786 5157461 4283700 714269 159492 2397607 2032874 311709 53024 0 1127361 1127361 409839 409839 0 0 43252 43252 3123381 2368452 651939 102990 662154 651883 10271 1617930 1119400 353404 145126 723666 427808 287690 8168 0 2958986 2743563 201350 14073 1696202 1592197 35855 68150 0 167878 87557 74211 6110 2764853 2704875 59743 235 0 5596952 5309050 287741 161 872928 820915 47849 4164 FOOD SERVICE EXPENSE 6959490 6438303 395258 125929 EQUIPMENT RENTAL & MAINTENANCE 3968954 3202664 748384 17906 SPECIAL EVENT EXPENSE 836323 678636 116422 41265 LIBRARY BOOKS AND PUBLICATIONS 530945 530945 2784655 1956740 801465 26450 121115888 108106375 11081087 1928426 0 0 11317989 14039288 1102804 2404912 3227713 3152449 0 0 0 0 0 0 3048 0 963598 1025042 175353653 83603655 81957898 91749998 37602561 44288261 2350124 2808553 0 0 0 0 17065545 8635460 155591280 168103963 8640126 10536916 0 0 8058647 8887209 68784743 67388201 0 0 0 0 168990 169599 0 0 3702930 3747695 89355436 90729620 X 34261163 38983797 12059037 18160849 19915644 20229697 66235844 77374343 155591280 168103963 X 6008867 5181660 -43252 -8776 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true false LOBBYING ACTIVITIES PART II-B, LINE 1I The college is a member in certain professional organizations including the National Association of College and University Business Officers, and other regional organizations. A portion of these membership dues may be considered lobbying expenses, but the college has not made any internal allocation of such dues. 39457566 404889 7789877 1020294 67501 46564537 35083804 1169317 5378020 932851 1240724 39457566 37192284 576036 528977 852185 2361308 35083804 30837487 379215 6795911 820229 0 0 37192384 28045769 514113 3286043 878865 129573 0 30837487 0.24000 0.43000 0.33000 false false 213318 213318 129236814 47876999 81359815 1414254 635869 778385 34234909 28760885 5474024 10254358 6329902 3924456 91749998 DEPOSITS WITH BOND TRUSTEES 7574231 CASH SURRENDER VALUE OF SDLI 451229 OTHER ASSETS 610000 8635460 0 REFUNDABLE ADV. - US GOV'T GRANTS 3747695 3747695 X 132235901 5138408 -8776 5129632 127106269 43252 -24766 18486 127124755 121097402 24766 24766 121072636 43252 43252 121115888 Intended Uses of Endowment Funds Schedule D, Part V, Line 4 The College maintains and spends its endowment funds prudently under the guidelines of the laws of the Commonwealth of Massachusetts in order to maximize investment return while preserving donor corpus. All uses of endowment fund earnings are in accordance with donor intent consistent with institutional mission. Endowment funds primarily provide for the following: student financial aid, student services, academic support, athletic programs and capital projects. FIN 48- ASC 470 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. Supplemental Description - Other Schedule D, Part XI, Line 2d Net change in split interest value ($8,776) ______________ Total ($8,776) Supplemental Description - Other Schedule D, Part XI, Line 4b and Part XII, Line 2d Fundraising expenses included on Form 990, Part VIII: $24,766 true true true true true true true false false false false false false false false true false true Publication of Racially Nondiscriminatory Policy Schedule E, Part I, Line 3 Merrimack College does not discriminate in admission or access to any of its educational programs or activities. The College's nondiscriminatory policy is available on the college's website. Government Assistance Schedule E, Part I, Line 6a The college received federal title IV monies from the United States Department of Education as well as from various state agencies. true East Asia and the Pacific Program Services Study Abroad 112550 Europe (Including Iceland and Greenland) Program Services Study Abroad 1035417 1147967 1147967 Scholarship Aid East Asia and the Pacific 5 37264 Acct Credit Scholarship Aid Europe (Including Iceland and Greenland) 36 290805 Acct Credit false false false false false false Procedure for Monitoring Use of Grant Funds Outside U.S. Schedule F, Part I, Line 2 The College provides certain scholarship aid to students while participating in study abroad programs. Eligibility for the aid is determined prior to disbursement and is monitored periodically throughout the term of the grant by the College's Office of Financial Aid. Golf Tournament 52640 18000 34640 20054 56 4656 0 52640 18000 34640 20054 56 4656 24766 9874 true Student Scholarships 2605 38221133 Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 A report is run at the end of each semester to review each student's cumulative GPA and progress toward their degree. Students receiving merit awards who fail to achieve good academic standing are reviewed for alternative institutional funding. Every effort is made to find alternative funding for students not meeting good academic standing. X true true X X X X true false false false false false false false false Christopher Hopey President 492820 0 0 0 5462 0 21675 0 23530 0 543487 0 0 0 William Kline VP of Finance and CFO 143662 0 0 0 982 0 11903 0 14895 0 171442 0 0 0 Alexa Abowitz VP of Admin and Legal Counsel 201478 0 0 0 125 0 16237 0 16110 0 233950 0 0 0 Jeffrey Doggett Chief Operating Officer 200498 0 0 0 125 0 10998 0 7862 0 219483 0 0 0 Josephine Modica-Napolitano Interim Provost 230586 0 0 0 516 0 17798 0 600 0 249500 0 0 0 Mark Dennehy Asst Ath Dir. & Hockey Coach 219062 0 0 0 180 0 18063 0 22328 0 259633 0 0 0 Mark Cordano Dean Girard Business School 185466 0 0 0 288 0 15628 0 7808 0 209190 0 0 0 Linda Murphy Asst VP of Admin & Personnel 98836 0 0 0 65114 0 8554 0 5373 0 177877 0 0 0 Courtney Luongo Asst VP of Individual Giving 154500 0 0 0 113 0 2168 0 0 0 156781 0 0 0 Social Club Dues Schedule J, Part I, Line 1a Social club dues were paid for on behalf of the president. This expense was incurred for business purposes, and was not treated as taxable income. Severance or change of control Schedule J, Part I, Line 4a Linda Murphy received a severance payment totalling $64,913. The College is not obligated to pay any additional amounts in future periods. A Massachusetts Development Finance Agency 043431814 57583USE9 2012-08-13 64209436 Refund bond issue and construction false true false A 0 0 64209436 4194250 1466508 32886024 973098 0 0 24689556 0 0 2013 true false false true A false false false false 0.00000 0.00000 0.00000 false false false true A false true false false 0 false 0 false true A true X 5 28405 FMV X 1 10012 NBV false true true Third Party Assistance of Noncash Contributions Schedule M, Part I, Line 32A The college utilizes a registered investment advisor to immediately sell all gifts of stock. NUMBER OF ITEMS RECEIVED PART I, COLUMN B AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. Trustee Relationships Form 990, Part VI, Line 2 Alfred J. Arcidi and Philip M. Arcidi have a family relationship. Management Agreement Form 990, Part VI, Line 3 Merrimack College has entered into a management agreement with R Gallant Associates LLC under which R Gallant Associates LLC is responsible for managing the operation of Ice Rink premises on the College campus. In calendar year 2013, no compensation was provided by the management company to any of the College's current or former officers, directors, trustees, key employees or highest compensated employees listed in Part VII, Section A. The agreement was made at arm's length. Form 990 Review Process Form 990, Part VI, Line 11b Information for Form 990 is gathered and compiled by the department of fiscal affairs and used to populate the tax return in conjunction with tax advisors from a national accounting firm. The resulting draft tax return is forward to the President, in house legal counsel, and the audit and finance committee of the Board of Trustees for their review before filing. A copy of the Form 990 is provided to every voting board member prior to filing with the IRS. Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12c A trustee shall be considered to have conflict of interest if (A) such trustee has existing or potential financial or other interest which impairs or might reasonably appear to impair such member's independent, unbiased judgment in the discharge of their responsibilities to the college, or (B) such trustee is aware that a member of his or her family (which for purposes of this paragraph shall be a spouse or child) or any organization in which such trustee (or member of his or her family) is an officer, director, employee, member, partner, trustee, or controlling stockholder, has such existing or potential financial or other interests. All trustees shall disclose to the board any possible conflict of interest at the earliest practicable time. No trustee shall vote on any matter under consideration at a board of committee meeting in which such trustee has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the trustee having a conflict of interest abstained from voting. Any trustee who is uncertain whether they have a conflict of interest in any matter may request the board or committee to determine whether a conflict of interest exists. The board or committee shall resolve the question by majority vote. Violation of this policy may result in removal from office. Every year, the college requires the President, VP for Finance and CFO, and Board Members to complete a conflict of interest questionnaire. These documents are reviewed by the Department of Fiscal Affairs and any violations are addressed as necessary. Process for Determining Compensation Form 990, Part VI, Line 15a According to Article VII, Section 7 of the Merrimack College By-Laws, the compensation committee shall review the compensation and benefits of the officers of the corporation who are employees of the College and make recommendations for action by the board. The board of trustees' compensation committee uses a published salary survey taken from regional academic institutions comparable to Merrimack to benchmark the President's salary utilizing CUPA and other industry standards data. In addition to receiving salary data, the compensation committee conducts a presidential evaluation process in which all members of the board of trustees are asked to input their opinions regarding the President's achievement towards goals and expectations established annually by the board. Once consensus is reached regarding performance, a similar discussion is held concerning compensation relative to achievements and established objectives. IN THE ABSENCE OF THE PRESIDENT, The committee presents its recommendations to the board of trustees in executive session for review and approval. The board of trustees chair and the chair of the compensation committee then meets with the President to discuss trustees review. Compensation is also discussed for the upcoming year and documented. Process for Determining Compensation Form 990, Part VI, Line 15b The compensation committee is also responsible for working with the president in the evaluation and compensation for officers of Merrimack College. The president works with senior management to establish goals and objectives and to conduct an annual performance appraisal based on the goals set. The board of trustees compensation committee uses a published salary survey from regional academic institutions comparable to Merrimack to benchmark the officer's salary utilizing CUPA and other industry standards data. The President discusses the evaluation and compensation of officers with the compensation committee. Compensation is also discussed for the coming year and documented with the committee in regards to senior management and key employees. How Documents are made available to the Public Form 990, Part VI, Line 19 The College's governing documents, conflict of interest policy and financial statements are available upon request. The College's Form 990 is available at www.Guidestar.org and the Massachusetts Attorney General's website. Other Changes in Net Assets Form 990, Part XI, Line 9 Net Change in Split Interest Value ($8,776) ______________ Total ($8,776)