2015-05-11T15:13:40-05:00 2014-06-30 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2013-07-01 042103567 ENDICOTT COLLEGE % LYNNE O'TOOLE ENDI 9782322026 376 HALE STREET Suite BEVERLY MA 01915 LYNNE O'TOOLE VP OF FINANCE 9782322030 2015-05-11 true TARA D'AGOSTINO P01245482 9782322030 2013 2016-02-25 16:41:14Z RICHARD WYLIE 376 HALE ST BEVERLY MA 019150296 133628793 false X www.endicott.edu X 1939 MA Undergraduate and graduate education Endicott integrates professional and liberal arts with experiential learning including internships. 31 28 1885 150 6832509 -9834 4888247 4270396 107576942 114635200 1931211 1834869 581601 809289 114978001 121549754 21360758 23445286 0 0 44476369 47064815 0 0 1170377 31170533 33777631 97007660 104287732 17970341 17262022 215540763 248797247 72379215 82376038 143161548 166421209 X SEE SCHEDULE O false false 62932447 23278619 106557848 *EDUCATION AND AUXILIARY* SEE SCHEDULE O 11212308 *ACADEMIC SUPPORT* SEE SCHEDULE O 10906761 141110 *STUDENT SERVICES* SEE SCHEDULE O 7503185 166667 8745531 92554701 true true false false false false false true false true true false false false true true true false true true true false true false true false false true true true true false false false false false false true false true false true false false false false true true true false false true 222 0 true 1885 true true true true MX false false false true true false false false false X 31 28 true false false false false false false true true false false true true true true true true true true false MA X X LYNNE O'TOOLE 9782322030 376 HALE STREET BEVERLY Beverly MA 019152096 THOMAS J ALEXANDER CHAIRMAN 3.0 0.0 X X 0 0 0 ERIKA ANGLE TRUSTEE 1.0 0.0 X 0 0 0 E LORRAINE BAUGH TRUSTEE 1.0 0.0 X 0 0 0 MIZRA CIFRIC TRUSTEE 1.0 0.0 X 0 0 0 CHAD CRANDELL TRUSTEE 3.0 0.0 X 0 0 0 W ANDERSON DEVEREAUX TRUSTEE 2.0 0.0 X 0 0 0 ROBERT FANNING TRUSTEE 2.0 0.0 X 0 0 0 JOSEPH GRIMALDI TRUSTEE 1.0 0.0 X 0 0 0 PATRICIA HEFTLER TRUSTEE 1.0 0.0 X 0 0 0 MELISSA HEMPSTEAD VICE CHAIRMAN 2.0 0.0 X X 0 0 0 DAVID W HILLIS TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM F HOWARD TRUSTEE 3.0 0.0 X 0 0 0 CHARLIE JERABEK TRUSTEE 1.0 0.0 X 0 0 0 VIRGINIA JUDGE TRUSTEE 1.0 0.0 X 0 0 0 JOHN KAVANAGH TRUSTEE 1.0 0.0 X 0 0 0 REV DR PAUL D KENNEDY TRUSTEE 1.0 0.0 X 0 0 0 JACOB KIDDER TRUSTEE 2.0 0.0 X 0 0 0 MARIETTA CASHEN MARSH TRUSTEE 1.0 0.0 X 0 0 0 MARSHA A MCDONOUGH TRUSTEE 1.0 0.0 X 0 0 0 CYNTHIA MERKLE TRUSTEE 1.0 0.0 X 0 0 0 GAYLE PIRAINO TRUSTEE 1.0 0.0 X 0 0 0 DR RICHARD G POST TRUSTEE 1.0 0.0 X 0 0 0 MYRT HARPER ROSE TRUSTEE 1.0 0.0 X 0 0 0 SUSAN SALICE TRUSTEE 1.0 0.0 X 0 0 0 ERNEST M SANTIN TRUSTEE 2.0 0.0 X 0 0 0 JOANNA SCHULMAN TRUSTEE 1.0 0.0 X 0 0 0 JEAN SMOCK TRUSTEE 1.0 0.0 X 0 0 0 W THOMAS SPENCER JR TRUSTEE 2.0 0.0 X 0 0 0 DR LINDA EDMONDS TURNER TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM W VAN LOAN TRUSTEE 1.0 0.0 X 0 0 0 ANTHONY J VENUTI TRUSTEE 1.0 0.0 X 0 0 0 CHERYL VICKERY TRUSTEE 1.0 0.0 X 0 0 0 CHARLENE I WAX TRUSTEE 2.0 0.0 X 0 0 0 RICHARD E WYLIE PRESIDENT 60.0 0.0 X X 488968 0 89322 LYNNE O'TOOLE EXECUTIVE VP/ VP OF FINANCE 50.0 0.0 X 275696 0 50392 THOMAS REDMAN VP ADMISSION/ FINANCIAL AID 42.0 0.0 X 269036 0 52440 DENNIS MONACO DIRECTOR, PHYSICAL PLANT 45.0 0.0 X 166194 0 31337 DAVID VIGNERON VP INSTITUTIONAL ADVANCEMENT 50.0 0.0 X 217607 0 41855 LAURA ROSSI-LE VP AND DEAN OF COLLEGE 50.0 0.0 X 166204 0 88999 MARY HUEGEL VP/ DEAN GRAD AND PROF STUDIES 40.0 0.0 X 160608 0 32149 DENISE BILODEAU VP SPECIAL PROJECTS 40.0 0.0 X 159026 0 31953 WARREN JAFERIAN DEAN, INTERNATIONAL EDUCATION 40.0 0.0 X 153841 0 38147 2057180 0 456594 46 false true false KPMG LLP PO BOX 120001 DALLAS TX 053120579 ACCOUNTING 107400 LYNN BAK 20 CHANNEL POINT RD YARMOUTH MA 04096 PROGRAM MANAGEMENT 180336 2 74465 411122 3784809 111404 4270396 TUITION AND FEES 611710 79948206 79948206 RESIDENCE AND DINING 721000 26609642 26609642 CONFERENCE & EDUCATION SERVICES 611710 7101401 271922 6829479 MISCELLANEOUS 900099 975951 975951 114635200 878800 3030 875770 0 0 0 0 0 0 0 12985654 0 12029585 956069 0 956069 956069 49454 74465 49454 0 0 0 0 0 BOOKSTORE COMMISSION 900099 68545 68545 VENDING COMMISSION 900099 72565 72565 OTHER MISCELLANEOUS 900099 668179 668179 809289 121549754 108615010 6832509 1831839 166667 166667 22727003 22727003 551616 551616 0 1374072 568984 753362 51726 222885 222885 35041346 30205772 4170338 665236 2170370 1709344 439311 21715 5764523 4993474 713374 57675 2491619 2075371 391319 24929 4496091 4496091 43546 43546 122524 122524 0 0 70700 70700 1783480 1238044 445828 99608 633794 543769 90025 1904292 1450935 418706 34651 1533700 1533700 0 4028384 3894686 109876 23822 1062513 986348 49287 26878 0 0 2519428 2435440 79018 4970 0 5426792 5244444 171557 10791 764749 740913 23836 FOOD SERVICE 5706565 5622877 62989 20699 PRINTING/PUBLICATIONS 720240 554733 111565 53942 SPECIAL EVENTS 645112 338659 253446 53007 SMALL/ NON-CAPITALIZED EQUIP 623133 355867 265396 1870 1692588 1430779 242951 18858 104287732 92554701 10562654 1170377 175359 4205008 0 0 3506041 3864831 2328858 2741402 0 0 0 0 0 0 0 0 793860 600009 222798339 48246163 156609613 174552176 46720877 53620980 4863087 8762174 0 0 0 0 543068 450667 215540763 248797247 5447356 7728659 0 0 7376154 10266083 35084607 33850505 0 0 0 0 16122171 22190082 0 0 8348927 8340709 72379215 82376038 X 133746022 156240312 4277478 4662567 5138048 5518330 143161548 166421209 215540763 248797247 X 17262022 5451092 546547 X false true X true true true X 3110315 1801811 3750124 4888247 4270396 17820893 0 0 3110315 1801811 3750124 4888247 4270396 17820893 263879 17557014 593394 1021945 937146 1185559 875770 4613814 0 534401 643065 696556 622695 858743 3355460 25790167 465721787 0.68076 0.66710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 51511542 3752372 7233520 208980 62288454 44884187 2285280 4446485 104410 51511542 38696875 6245559 39456 97703 44884187 31077558 1869807 5761849 12339 38696875 21109882 7071180 2908984 12488 31077558 0.90980 0.07150 0.01870 false false 0 10884132 10884132 183821494 36647887 147173607 0 0 0 15034863 11598276 3436587 13057850 0 13057850 174552176 0 REFUNDABLE ADVANCES - US GOV'T 559975 LIABILITY- INTEREST RATE SWAPS 7780734 8340709 X 104268774 5451092 -22732072 -17280980 121549754 121549754 81009113 81009113 23278619 23278619 104287732 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 80 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 91% 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 FISCAL 2014 ONLY $208,980 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 2014 A TOTAL OF $3,752,372 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, 2014, OPEN FEDERAL AND MASSACHUSETTS TAX YEARS FOR THE COLLEGE INCLUDE THE TAX YEARS ENDED JUNE 30, 2011, THROUGH JUNE 30, 2013. 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 XII, LINE 2D CHANGE IN LIABILITY FOR INTEREST RATE SWAP 22,810 EXTINGUISHMENT OF DEBT 523,737 SCHOLARSHIPS (23,278,619) TOTAL (22,732,072) OTHER EXPENSES INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XIII, LINE 4B SCHOLARSHIPS 23,278,619 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 983954 East Asia and the Pacific Program Services STUDY ABROAD 362709 Central America and the Caribbean Program Services STUDY ABROAD 12855 South America Program Services STUDY ABROAD 32450 North America 2 Program Services FOREIGN CAMPUS 204808 Central America and the Caribbean Program Services INVESTMENTS 7190519 North America Investments INV IN FOREIGN CAMPUS 1095558 2 2 9882853 9882853 ENDICOTT STUDENT AID Europe (Including Iceland and Greenland) 116 400938 ACCT CREDIT ENDICOTT STUDENT AID East Asia and the Pacific 34 115143 ACCT CREDIT ENDICOTT STUDENT AID Central America and the Caribbean 2 12855 ACCT CREDIT ENDICOTT STUDENT AID South America 5 22680 ACCT CREDIT true false true true false false 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. GOLF TOURNAMENT 72175 57865 14310 28842 CAR SHOW 41400 16600 24800 19872 1 10344 10344 670 70 123919 74465 49454 670 48784 49454 true CITY OF BEVERLY 191 CABOT STREET BEVERLY MA 01915 999999999 GOV'T 166667 GENERAL SUPPORT 1 ENDICOTT YELLOW RIBBON 9 40030 ENDICOTT NEED-BASED SCHOLARSHIPS 1443 12510492 ENDICOTT MERIT/ACADEMIC SCHOLARSHIPS 1326 9095160 MEXICO TRANSFERS SCHOLARSHIP 14 190297 FEDERAL SEOG GRANT 105 105109 SPECIAL/PRESIDENT'S DISCRETIONARY SCHOLARSHIP 36 339345 MA GILBERT GRANT 114 142900 ENDOWED AND DONOR-RESTRICTED SCHOLARSHIPS 337 245170 ENDICOTT ROTC GRANT 11 58500 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. 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 X X true true X X X X X false true false false false false false false false RICHARD E WYLIE PRESIDENT 400507 0 0 0 88461 0 37900 0 51422 0 578290 0 0 0 LYNNE O'TOOLE EXECUTIVE VP/ VP OF FINANCE 224921 0 0 0 50775 0 29988 0 20404 0 326088 0 0 0 THOMAS REDMAN VP ADMISSION/ FINANCIAL AID 263365 0 0 0 5671 0 33867 0 18573 0 321476 0 0 0 DENNIS MONACO DIRECTOR, PHYSICAL PLANT 165233 0 0 0 961 0 13688 0 17649 0 197531 0 0 0 DAVID VIGNERON VP INSTITUTIONAL ADVANCEMENT 198785 0 0 0 18822 0 16305 0 25550 0 259462 0 0 0 LAURA ROSSI-LE VP AND DEAN OF COLLEGE 164356 0 0 0 1848 0 22252 0 66747 0 255203 0 0 0 MARY HUEGEL VP/ DEAN GRAD AND PROF STUDIES 159719 0 0 0 889 0 21074 0 11075 0 192757 0 0 0 DENISE BILODEAU VP SPECIAL PROJECTS 158153 0 0 0 873 0 20812 0 11141 0 190979 0 0 0 WARREN JAFERIAN DEAN, INTERNATIONAL EDUCATION 153554 0 0 0 287 0 12311 0 25836 0 191988 0 0 0 BENEFITS PART I, LINE 1A FIRST CLASS TRAVEL: DURING THE FISCAL YEAR, THE PRESIDENT TRAVELED ONCE BY FIRST CLASS ONE WAY ON A ROUNDTRIP FLIGHT. THE COST OF THE FLIGHT ONE WAY BY FIRST CLASS ON THE ROUNDTRIP FLIGHT COST LESS THAN ECONOMY. THE COST OF THE FLIGHT WAS NOT INCLUDED THE PRESIDENT'S TAXABLE WAGES OF FORM W-2 SINCE THE TRIP WAS ON COLLEGE BUSINESS. TRAVEL FOR COMPANIONS: THE PRESIDENT'S SPOUSE TRAVELED ONCE WITH THE PRESIDENT FOR A BONA FIDE BUSINESS PURPOSE OF THE COLLEGE. THE AMOUNT WAS NOT INCLUDED IN THE PRESIDENT'S TAXABLE WAGES OF FORM W-2. 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 2013. 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 2013 COMPENSATION IS INCLUDED IN TAXABLE WAGES. A MASSACHUSETTS DEVELOPMENT FIN AGENCY SERIES 2012 043431814 2012-08-02 26465000 REFINANCE DEBT false false false B MA HEALTH & EDUCATIONAL FAC AUTHORITY 042456011 2010-04-01 10000000 REFINANCE DEBT AND CONSTRUCTION false false false A 0 0 26465000 0 0 0 0 0 0 0 26465000 0 2006 true false true true B 0 0 10000000 0 0 0 123750 0 0 9876250 0 0 2012 false false true true A false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true B false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false true false true true BANK OF AMERICA 25. false false false 0 false true B false false false true false false 0 false false false 0 false true A true B true Schedule K THE SERIES 2012 ISSUE REFINANCES PRIOR DEBT FOR WHICH SWAP AGREEMENTS WERE ENTERED INTO WITH BANK OF AMERICA. THE PRIOR DEBT HAD FOUR SWAP AGREEMENTS ASSOCIATED WITH IT. THE SWAPS HAVE MATURITY DATES RANGING FROM 6 TO 25 YEARS. REBATE COMPUTATION DATE PART IV, LINE 2C BOND ISSUE B: 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. RELATED TO TRUSTEE RELATED TO TRUSTEE 60666 NEED BASED SCHOLARSHIP BRIAN WYLIE FAMILY MEMBER-PRES. WYLIE 145991 COMPENSATION - ATHLETIC DIR. false SAMUEL ALEXANDER FAMILY MEMBER-TRUSTEE 76894 COMPENSATION- FACULTY false X 10 111404 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. 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 #74 OF 179 INSTITUTIONS IN THE US NEWS AND WORLD BEST COLLEGES 2014 REPORT. THE COLLEGE WAS #1 OF 8 IN ITS CATEGORY OF "UP AND COMING" INSTITUTIONS. 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 2014, FOR FALL 2014 ADMISSION, THE OFFICE OF ADMISSION RECEIVED 4,016 APPLICATIONS, ACCEPTED 71% OF THE APPLICANTS, AND ENROLLED 28% OF THOSE ACCEPTED FOR ADMISSION. THE COLLEGE AWARDED 655 BACHELOR DEGREES AND 492 MASTERS DEGREES IN 2014. OUR GRADUATES HAD 100% PASS RATES ON EXTERNAL EXAMINATIONS FOR ATHLETIC TRAINING AND EDUCATION AND 75% 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, THE RESPECTIVELY. ENDICOTT'S RETENTION RATE OF FRESHMAN ENTERING 2012 AND RETURNING 2013 WAS 81%. THE SIX YEAR GRADUATION RATE FOR FRESHMAN ENTERING 2007 WAS 70%. OF THE 2013 GRADUATES WHO RESPONDED TO CAREER SURVEYS, 75% 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 THEIR INTERNSHIP SITE. 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 51% OF THE ENDICOTT STUDENT BODY PARTICIPATING IN COMMUNITY SERVICE, FOR A TOTAL OF 20,125 COMMUNITY SERVICE HOURS PERFORMED BY 1,221 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* ENDICOTT'S UNDERGRADUATE COLLEGE OFFERS BACHELOR OF FINE ARTS, BACHELOR OF ARTS, AND BACHELOR OF SCIENCE DEGREES. DAY PROGRAM ENROLLMENT FOR FALL 2013 WAS 2,414 STUDENTS, WITH ANOTHER 112 STUDENTS ENROLLED IN PRAGUE, CZECH REPUBLIC, MADRID, SPAIN, MEXICO CITY, MEXICO, LEYSIN, SWITZERLAND 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, AND PRAGUE, CZECH REPUBLIC WAS 2,849 STUDENTS AS OF FALL 2013. 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 2013 SEMESTER, 1966 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 BOARD OF BEVERLY BANK, A LOCAL FINANCIAL INSTITUTION. 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 22,810 EXTINGUISHMENT OF DEBT 523,737 TOTAL 546,547 ENDICOTT COLLEGE SC- MEXICO CITY CAMPUS RUBEN DARIO NO 30 COL RINCON DEL BOSQUE DEL. MIGUEL HIDAL MX 11580 999999999 EDUCATION MX ENDICOTT C CORP 7444 129128 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 1095558 COST