2015-05-12T14:12:20-07:00 2014-06-30 990 2013-07-01 042103578 THE TRUSTEES OF MOUNT HOLYOKE COLLEGE TRUS 4135382641 50 College Street South Hadley MA 01075 Ellen Rutan Comptroller 4135382713 2015-05-13 2013 2016-02-25 16:41:14Z Mount Holyoke College Lynn Pasquerella 50 College Street South Hadley MA 01075 235852857 0 X www.mtholyoke.edu X 1836 MA The mission of Mount Holyoke College is to provide an intellectually adventurous education in the liberal arts and sciences through academic programs recognized internationally for their excellence and range; to draw students from all backgrounds into an exceptionally diverse and inclusive learning community with a highly accomplished, committed, and responsive faculty and staff; to continue building on the College's historic legacy of leadership in the education of women; and to prepare students, through a liberal education integrating curriculum and careers, for lives of thoughtful, effective, and purposeful engagement in the world. 31 28 3314 1531 911444 0 32261711 31201331 108300873 102236167 46799323 52629877 19115219 18682899 206477126 204750274 52616725 48670778 0 0 77932242 79128412 0 0 7852230 56628887 58525436 187177854 186324626 19299272 18425648 907370870 977370169 173833362 168899829 733537508 808470340 Mount Holyoke College is a highly selective, nondenominational, residential, research liberal arts college for women. The College's long, distinguished history of educating leaders arises from a powerful combination of academic excellence in a global learning environment. As the first of the Seven Sisters-the female equivalent of the once predominantly male Ivy League-Mount Holyoke has led the way in women's education, preparing students for purposeful engagement in the world. 0 0 122483609 48670778 98296532 *Instruction, Research, Academic Support and Library Services* Mount Holyoke College enrolls approximately 2,200 undergraduate students who benefit from small group instruction in a diverse college community with a student-to-faculty ratio of 10 to 1. Mount Holyoke's 200 accomplished faculty members are innovative teachers dedicated to their students. They are also active scholars, research scientists, and creative artists passionate about their disciplines. The College offers 50 departmental and interdepartmental majors. Through the liberal arts education, students explore art, literature, languages, philosophy, politics, history, mathematics and science rather than choosing one specialized track of study. The liberal arts also transcend the classroom. Students gain a complex understanding of the world in which they live through internships, study abroad, community-based learning, volunteer work and independent research. An integral part of the college community, Library and Information Technology Services facilitates the creative use of information and technology. It supports the educational priorities of the College by providing instruction, materials, staff expertise and equipment to sustain learning, teaching, research and the College's administrative functions. 26053778 0 12116971 *Student Services and Residential Life* Engagement, peer mentorship and self governance are the foundations of Mount Holyoke's residential program. To this end, most residence halls house members of all four classes. Approximately one-fourth of the rooms in each residence hall are for entering students. The result is an interesting blend of experience within each residence hall. The College offers housing in many configurations to meet the developing needs of students. Each residence hall is unique in design and character. Along with being committed to academic success, Mount Holyoke cares about the overall well being of students. The College offers a range of health, counseling and public safety services to support the needs of its students. The Office of Student Programs supports 150 student organizations and presents a wide array of cultural, entertainment and social events, in addition to advising on event planning, new ideas, leadership skills and general student organization dynamics. 9502857 0 10173524 *Dining Services* At Mount Holyoke College, dining is an integral part of a student's educational experience. Students meet at mealtimes in friendly conversation, often with faculty as their invited guests. This hospitality and exchange is an important tradition on campus. Dining Services is responsible for administering a comprehensive board program in six residential dining locations, the Kendade Atrium Cafe, and the campus café, and is responsible for all campus center cash operations, vending, a bakery, and a warehouse. The qualified and experienced culinary production and service staff are committed to providing high quality and nutritious food in all dining operations. 0 0 0 158040244 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 1 0 0 1 2693 0 1 3314 1 1 1 1 CH CJ EI FR 0 0 0 1 1 1 1 0 0 0 X 31 28 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA X X Ellen Rutan - Comptroller 4135382713 50 College St South Hadley MA 01075 X Mary Graham Davis Chair, Board of Trustees 8 0.10 X 0 0 0 Jeanne E Amster Trustee 4 0.10 X 0 0 0 Susan Bateson Trustee 2 0.10 X 0 0 0 Ann Blake Alumna Trustee 2 2.10 X 500 0 0 Catherine Burke Alumna Trustee 2 0.10 X 0 0 0 Barbara Moakler Byrne Trustee 6 0.10 X 0 0 0 Debra Martin Chase Trustee 2 0.10 X 0 0 0 Katherine E Collins Trustee 2 0.10 X 0 0 0 Ellen M Cosgrove Trustee 2 0.10 X 0 0 0 Sarah Miller Coulson Trustee 2 0.10 X 0 0 0 Helen Gannon Drinan Trustee 2 0.10 X 0 0 0 Ellen J Flannery Trustee 2 0.10 X 0 0 0 Elizabeth Onyemelukwe Garner Alumna Trustee 2 0.10 X 0 0 0 Suzanne A George Alumna Trustee 2 0.10 X 0 0 0 Elizabeth Cochary Gross Trustee 2 0.10 X 0 0 0 Heather Harde Trustee 2 0.10 X 0 0 0 Mindy McWilliams Lewis Trustee 4 0.10 X 0 0 0 Chau Ly Trustee 2 0.10 X 0 0 0 Guy R Martin Trustee 4 0.10 X 0 0 0 Richard E Neal Trustee 2 0.10 X 0 0 0 Ellen Hyde Pace Alumna Trustee 2 0.10 X 0 0 0 Elizabeth A Palmer Trustee 6 0.10 X 0 0 0 Cynthia L Reed Alumna Trustee 4 35.10 X 0 0 0 James Streibich Trustee 2 0.10 X 0 0 0 Karena Strella Trustee 2 0.10 X 0 0 0 Kaitlyn Szydlowski Trustee 2 0.10 X 0 0 0 Marija Tesla Trustee 2 0.10 X 0 0 0 David Wilson Trustee 2 0.10 X 0 0 0 Margaret L Wolff Vice Chair, Board of Trustees 6 0.10 X 0 0 0 Sarah Xefos Trustee 2 0.10 X 0 0 0 Lynn Pasquerella President 40 1.0 X X 423106 0 98984 MaryAnne Young Vice President for Advancement 40 0 X 202000 0 73095 Diane Anci VP for Enrollment & Dean of Admission 40 0 X 185098 0 44511 Cerri Banks VP for Student Affairs & Dean of the College 40 0 X 183849 0 30908 Sonya Stephens VP for Academic Affairs & Dean of Faculty 40 0 X 121280 0 21848 Lenore Reilly Secretary of the College 40 1.0 X 111079 0 18148 Shannon D Gurek VP for Finance & Administration & Treasurer 40 1.0 X 95833 0 10063 Christine Hutchins VP for Marketing & Communications 40 0 X 0 0 0 Eva Paus Professor of Economics & Dir of Ctr for Global Initiatives 40 0 X 162928 0 36115 John Stomberg Director of Art Museum 40 0 X 162001 0 15012 Janice Gifford Professor of Statistics & Assoc. Dean of Faculty 40 0 X 150858 0 22688 Charles Ramsay Director Principal Gifts and International Advancement 40 0 X 149145 0 32739 Melinda Darby Dyar Professor & Chair of Astronomy 40 0 X 148254 0 11652 Christopher Benfey Former VP for Academic Affairs & Dean of Faculty 40 0 X 183032 0 36559 Sarah Sutherland Former Secretary of the College 40 0 X 122409 0 20032 Benjamin Hammond Former VP for Finance & Administration & Treasurer 40 0 X 105458 0 23214 2506830 0 495568 102 1 1 0 Cambridge Associates LLC 100 Summer Street Boston MA 021102112 Investment Consulting 1123783 LS Power Equity Partners PIE I 1700 Broadway 35th Floor New York NY 10019 Investment Management 547525 Mindpower Inc 337 Georgia Avenue SE Atlanta GA 30312 Web Design Consulting 381482 Cedar Rock Capital Partners LLC 11 Broadway Suite 965 NY NY 10019 Investment Management 303497 Silchester International Investors 780 Third Ave Fl 42 NY NY 10017 Investment Management 258475 15 0 0 13720 0 4286138 26901473 4674035 31201331 Tuition and Fees 611310 90152893 90152893 0 0 Room and Other Board 611310 12070170 12070170 0 0 Educational Performances 611310 13104 13104 0 0 0 0 0 0 102236167 17870909 0 -247374 18118283 129652 0 0 129652 166 0 0 166 430681 0 386171 0 44510 0 44510 0 0 44510 62000753 47689 27419126 0 34581627 47689 34629316 0 872457 33756859 7670 13720 6668 1002 0 1002 13585210 3290618 10294592 10220325 74267 0 Educational Conferences 721000 1054042 885803 168239 0 Public Safety Collaborative 611310 2474762 2474762 0 0 4813825 4769970 43855 0 8342629 204750274 120587027 911444 52050472 169141 169141 35160376 35160376 13341261 13341261 0 0 1983104 758862 1005046 219196 0 0 0 0 58521863 50884128 4683357 2954378 5605560 4874034 448445 283081 8716378 7578891 697310 440177 4301507 3740160 344121 217226 488994 416879 46058 26057 234754 9693 224869 192 210875 10750 200125 0 0 0 0 0 9802869 0 9802869 0 4527301 3491158 908055 128088 95757 50137 41706 3914 5263507 4594425 315743 353339 1620047 1054274 551826 13947 9129 8779 350 0 4779770 4419762 148420 211588 1860036 1454268 159526 246242 222002 178164 25787 18051 5530439 5321388 74661 134390 531106 277363 181793 71950 10754033 10381655 132992 239386 2789187 2202204 567648 19335 Allocated expenses 0 534294 -534294 0 Public Safety Collaborative Expenses 2349573 2349573 0 0 Alumnae Association Support 2127832 0 0 2127832 5328225 4778625 405739 143861 186324626 158040244 20432152 7852230 30435017 43258140 21699799 20088005 1956557 2886377 0 0 368344 343231 786873 744105 1699053 2891071 373413866 196517959 177318783 176895907 114260087 142451084 518880827 559824165 18814874 18723370 0 21150656 9264714 907370870 977370169 10144923 9134975 0 0 1813600 1900927 111090889 108157169 0 0 0 0 50783950 49706758 173833362 168899829 X 117865390 131760341 348498684 401739487 267173434 274970512 733537508 808470340 907370870 977370169 X 18425648 52565010 0 0 0 3942174 X 0 1 X 1 1 1 X 22564052 23250197 25438887 32261711 31201331 134716178 0 0 0 0 0 0 0 0 0 0 0 0 22564052 23250197 25438887 32261711 31201331 134716178 1117958 133598220 15490216 7972892 17972845 16491701 18678782 76606436 0 2105778 0 0 0 2105778 13111089 13705939 14361829 14414990 13585210 69179057 282607449 559569076 0.47273 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5000 5000 0 Schedule C, Part II-B, Line 1 The College pays membership dues to organizations that address state and federal regulatory issues for the collective benefit of member institutions. The organizations notify the College of the approximate amount of membership dues used for lobbying expense. 88670 12468785 0 0 X X X X 0 638551662 9389782 104887988 10435055 18937619 9942244 713514514 594045152 11856126 72624207 8448417 22588075 8937331 638551662 617284353 9947368 5518243 7840042 19056521 11808249 594045152 535887570 5912096 111891009 7566269 18730941 10109112 617284353 503167897 6071042 60421588 7082487 19394159 9600451 533583430 0.15 0.35 0.5 1 0 0 26618125 26618125 0 153218446 57071400 96147046 0 84224902 44407727 39817175 0 60250573 52760591 7489982 0 49101820 42278241 6823579 176895907 Fixed Income Mutual/Comingled Funds 11372081 F Equity Mutual/Comingled Funds 175123427 F Hedge Funds 189482220 F Inflation Hedging 74652695 F Debt Related 15473239 F Venture Capital 90588517 F Other 3131986 F 559824165 0 Interest Rate Swap Liability 13819427 FAS 158 Pension Liability 3669276 FIN 47 Conditional Asset Retirement Obligation 9874524 457(b) Pension Liability 532165 Refundable Government Advances 4650237 Split Interest Obligation 17161129 49706758 X 256796159 52565010 0 0 -4193032 48371978 208424181 0 -3673907 -3673907 204750274 181879297 0 0 0 5496915 5496915 176382382 9942244 0 9942244 186324626 Schedule D, Part III, Line 4 The College maintains more than 17,000 works of art from antiquity to the present that comprise the permanent collection of the Mount Holyoke College Art Museum. This culturally and chronologically diverse collection is an important teaching and learning resource for faculty and students in all disciplines, and serves as a major cultural resource for area schools and the general public. Dedicated to providing firsthand experiences with works of significant aesthetic and cultural value, the Museum develops exhibitions that aim to provide aesthetic enjoyment, stimulate inquisitive looking and encourage understanding of artistic achievements across a diversity of cultures and time periods. Selected works of art are installed in the Art Museum's ten galleries and reception hall on a rotating basis and the Museum produces two to four special exhibitions each year in addition to its display of works from the permanent collection. The Museum integrates its collections, exhibitions and scholarly research with the curriculum of the College and the interests of the general public. Schedule D, Part V, Line 4 Mount Holyoke's endowment consists of approximately 1,600 funds established for a variety of purposes, including both donor restricted endowment funds and funds designated by the College to function as endowments. About 26 % of the endowment income used to support the College's operations is unrestricted. Most of the endowed funds contain specific restrictions for the support of critical functions such as financial aid for students with demonstrated need, faculty salaries, library purchases, student and faculty research, internships and departmental programming. Endowment income provides approximately 26% of the College's annual operating budget revenues. Schedule D, Part X, Line 2 The College is a tax-exempt organization as described in 501(c)(3) of the Internal Revenue Code and is generally exempt from income taxes pursuant to 501(a) of the Code. The College assesses uncertain tax positions and determined that there were no such positions that have a material effect on the financial statements for the year ended June 30, 2014. Schedule D, Part XI, Line 2d Other includes Willits Hallowell Center revenue of 1,643,848, change in value of split interest agreements of 4,086,345, change in value of interest rate swaps of $507,379, change in FAS 158 pension benefit obligation of -488,360 and endowment expenses of -9,942,244. Schedule D, Part XI, Line 4b Other includes cost of goods sold of -3,290,618, fundraising event expenses of -6,668, and faculty housing expenses of -376,621. Schedule D, Part XII, Line 2d Other includes Willits Hallowell Center expenses of 1,823,008, cost of goods sold of 3,290,618, fundraising event expenses of 6,668, and faculty housing expenses of 376,621. 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 follows a nondiscriminatory policy toward students, faculty and staff, and with regard to students, includes this policy in most brochures and catalogues pertaining to student admissions, programs and scholarships. Mount Holyoke College has approximately 2,200 students who hail from 48 states and 80 countries. The College demonstrates its commitment to diversity by enrolling students of minority groups in meaningful numbers. The racially diverse student body consists of approximately 24% who are international citizens. Out of domestic students, 26% identify as African American, Native American, Asian American, Latina or multiracial. Schedule E, Part I, Line 6 The College receives federal grants for faculty research and student scholarships. 1 Central America and the Caribbean 0 0 Program Services Grant Aid 339759 Central America and the Caribbean 0 0 Program Services Study and Activities Abroad 160445 Central America and the Caribbean 0 0 Program Services Research 8973 Central America and the Caribbean 0 0 Investments 143972697 East Asia and the Pacific 0 0 Program Services Grant Aid 4086257 East Asia and the Pacific 0 0 Program Services Study Abroad 65627 East Asia and the Pacific 0 0 Program Services Research 19270 East Asia and the Pacific 0 0 Program Services Recruitment 23462 East Asia and the Pacific 0 0 Fundraising Alumnae Meetings 36117 Europe (including Iceland and Greenland) 0 0 Program Services Grant Aid 1265402 Europe (including Iceland and Greenland) 1 1 Program Services Study Abroad 331377 Europe (including Iceland and Greenland) 0 0 Program Services Research 94441 Europe (including Iceland and Greenland) 0 0 Program Services Recruitment 4366 Europe (including Iceland and Greenland) 0 0 Fundraising Alumnae Meetings 60191 Europe (including Iceland and Greenland) 0 0 Investments 23038503 Middle East and North Africa 0 0 Program Services Grant Aid 825334 Middle East and North Africa 0 0 Program Services Research 1141 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Grant Aid 340280 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Research 23562 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Recruitment 1628 North America (including Canada and Mexico, but not the United States) 0 0 Fundraising Alumnae Meetings 7503 Russia and the newly independent States 0 0 Program Services Grant Aid 362244 Russia and the newly independent States 0 0 Program Services Research 25057 South America 0 0 Program Services Grant Aid 103084 South America 0 0 Program Services Research 4747 South Asia 0 0 Program Services Grant Aid 3823469 South Asia 0 0 Program Services Research 1479 Sub-Saharan Africa 0 0 Program Services Grant Aid 2195433 Sub-Saharan Africa 0 0 Program Services Research 17195 1 1 181239043 Financial Assistance Central America and the Caribbean 9 339759 Account Credit Financial Assistance Europe (including Iceland and Greenland) 39 1265402 Account Credit Financial Assistance East Asia and the Pacific 185 4086257 Account Credit Financial Assistance Middle East and North Africa 24 825334 Account Credit Financial Assistance North America (including Canada and Mexico, but not the United States) 12 340280 Account Credit Financial Assistance Russia and the newly independent States 12 362244 Account Credit Financial Assistance South America 4 103084 Account Credit Financial Assistance South Asia 122 3823468 Account Credit Financial Assistance Sub-Saharan Africa 66 2195433 Account Credit 1 1 0 1 1 1 Schedule F, Part I, Line 2 All financial aid grants and scholarships to students who are foreign citizens are recorded in the financial aid management software, PowerFAIDS, by amount per semester. Student Financial Services staff determine student eligibility based on a consistently applied need analysis formula which calculates the expected family contribution (EFC). The EFC is subtracted from the total cost of attendance to equal the financial aid eligibility. The financial aid grant amount is determined based on consistently applied packaging formulas to meet the full calculated need of each student. In addition to the need based aid that the College awards, there are some grants that are awarded based on merit. Financial aid grant funds are monitored through the financial aid management software, PowerFAIDS. Staff who will be awarding financial aid grant funds are trained to adhere to these policies and procedures. The financial aid grant information is transferred from PowerFAIDS to the student information system, Ellucian Colleague, via a regularly scheduled interface. When all institutional grant disbursement requirements are met, the funds are disbursed to the student account in Colleague. The funds are credited against any billed charges that have been previously posted. If this transaction results in a credit balance, the credit may be refunded to the student in the form of a check. The student initiates this refund process by submitting a completed Disbursement Form or Credit Balance Request Form. Student eligibility is monitored throughout the period of enrollment and adjustments are made, as necessary, for changes in enrollment status according to the College's published refund policies. Friends of Athletics 21390 13720 7670 0 1025 0 3452 0 2191 0 0 21390 13720 7670 0 1025 0 3452 0 2191 6668 1002 1 University of New Hampshire 51 College Road Durham NH 03824 026000937 24215 Sub-award for grant research. Pomona College 185 E 6th Street Claremont CA 91711 951664112 44549 Sub-award for grant research. New England Public Radio Hampshire House Amherst MA 01003 046130523 501(c)(3) 11543 General support for local public radio station WAMC PO Box 66600 Albany NY 12206 222400593 501(c)(3) 60000 Support for the Academic Minute educational radio program featuring current academic research by professors throughout the world. Kaplan Educational Foundation 395 Hudson Street Fourth Floor New York NY 10014 200495155 501(c)(3) 7750 Support for programs to help low income community college students transfer to selective four year colleges throughout the United States Town of South Hadley 116 Main Street South Hadley MA 01075 046001303 20100 Support for fire department capital equipment fund 6 0 Financial aid and fellowships for US citizens for tuition, room and board expenses 1301 35160376 0 Schedule I, Part I, Line 2 All financial aid grants and scholarships to students who are United States citizens are recorded in the financial aid management software, PowerFAIDS, by amount per semester. Student Financial Services staff determine student eligibility based on a consistently applied need analysis formula which calculates the expected family contribution (EFC). The EFC is subtracted from the total cost of attendance to equal the financial aid eligibility. The financial aid grant amount is determined based on consistently applied packaging formulas to meet the full calculated need of each student. In addition to the need based aid that the College awards, there are some grants that are awarded based on merit. Financial aid grant funds are monitored through the financial aid management software, PowerFAIDS. Staff who will be awarding financial aid grant funds are trained to adhere to these policies and procedures. The financial aid grant information is transferred from PowerFAIDS to the student information system, Ellucian Colleague, via a regularly scheduled interface. When all institutional grant disbursement requirements are met, the funds are disbursed to the student account in Colleague. The funds are credited against any billed charges that have been previously posted. If this transaction results in a credit balance, the credit may be refunded to the student in the form of a check. The student initiates this refund process by submitting a completed Disbursement Form or Credit Balance Request Form. Student eligibility is monitored throughout the period of enrollment and adjustments are made, as necessary, for changes in enrollment status according to the College's published refund policies.*During the fiscal year, the College conducted grant-funded research. Two of the research grants included collaboration with institutions whose faculty are accomplished in their respective fields of study.*Infrequently at the discretion of the President or Vice President for Finance and Administration, the College makes donations to support the town or nonprofit organizations. In these instances, the College generally does not monitor the ultimate use of the funds as these amounts are unrestricted grants to municipalities and organizations that are recognized as being described in Internal Revenue Code Section 501(c)(3). In certain instances when the College grants funds for specified use by the town, the College maintains a written agreement that such grant will be used for the designated purpose. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Lynn Pasquerella President 387539 0 0 0 35567 0 91525 0 7832 0 522463 0 0 0 MaryAnne Young Vice President for Advancement 202000 0 0 0 0 0 21210 0 52258 0 275468 0 0 0 Diane Anci VP for Enrollment & Dean of Admission 185098 0 0 0 0 0 20680 0 24199 0 229977 0 0 0 Cerri Banks VP for Student Affairs & Dean of the College 183849 0 0 0 0 0 19471 0 11785 0 215105 0 0 0 Eva Paus Professor of Economics & Dir of Ctr for Global Initiatives 162928 0 0 0 0 0 17642 0 18790 0 199360 0 0 0 Charles Ramsay Director Principal Gifts and International Advancement 146648 0 0 0 2497 0 15908 0 17120 0 182173 0 0 0 John Stomberg Director of Art Museum 138975 0 0 0 23027 0 14603 0 676 0 177281 0 0 0 Janice Gifford Professor of Statistics & Assoc. Dean of Faculty 150858 0 0 0 0 0 16038 0 6886 0 173782 0 0 0 Melinda Darby Dyar Professor & Chair of Astronomy 148254 0 0 0 0 0 11652 0 342 0 160248 0 0 0 Christopher Benfey Former VP for Academic Affairs & Dean of Faculty 183032 0 0 0 0 0 19728 0 17169 0 219929 0 0 0 Sarah Sutherland Former Secretary of the College 122409 0 0 0 0 0 13083 0 7191 0 142683 0 0 0 Benjamin Hammond Former VP for Finance & Administration & Treasurer 105458 0 0 0 0 0 11652 0 11748 0 128858 0 0 0 Schedule J, Part I, Line 1a The College's Companion Travel Policy states that in occasional authorized circumstances the College will pay or reimburse for travel, meals and expenses of the spouse/partner of an officer. Specifically, while performing her official duties in the areas of advancement, alumnae relations and other business of the College, the President may be accompanied by her spouse/partner, who is expected to make an important contribution to achieving the purpose of the travel or events. In those cases, the College's policy is to authorize the payment of all travel and related expenses of the President's spouse/partner. Under the accountable travel plan of the College, all expenses must be documented and receipts provided. In addition, when companion travel is covered, the following conditions must be met in order to exclude travel costs from the taxable income of the employee: 1. The spouse/partner attends and contributes to the official function. 2. The purpose of the travel, the activities of the spouse/partner relating to College business and the expenses incurred are fully documented. Any spouse/partner travel other than that of the President must be approved, in advance, by the President.*The College has a mortgage subsidy program for eligible employees whereby the College pays the employee the interest differential between the mortgage lender's market rate of interest and the prevailing long term monthly compounded applicable federal rate (AFR). The College subsidy constitutes a taxable benefit and therefore the subsidy and a tax gross-up are included in the reportable compensation of employees who participate in the program. One of the highest paid employees participates in this subsidized mortgage benefit program. This program is no longer offered for new mortgage loans originating after June 30, 2011.*The Board of Trustees recognizes the unique role the President and other senior administrators play in supporting alumnae and advancement activities, campus events, and other official functions. Accordingly, as a condition of employment and for the convenience of the College, College owned or leased housing is provided to the President and the Dean of the College to fulfill these duties. Such housing provided to the President is approved by the Board of Trustees and housing provided to other senior administrators is approved by the President. For the President's house, the College provides custodial personnel and appropriate equipment and supplies necessary to keep the residence's appearance and cleanliness at acceptable standards. The cost of time spent cleaning the personal quarters of the President's house is included in the Form W-2 of the President. Schedule J, Part I, Line 3 For a description of the process used to determine the President's compensation, please refer to Schedule O, Part VI, Section B, Line 15. Schedule J, Part II After six years of employment, the President becomes eligible for a one year paid sabbatical. Included in the President's deferred compensation for the current year in column (C) is 1/6 of her estimated salary for the sabbatical year. To date, an additional $161,875 should be recognized as deferred compensation for the President's anticipated sabbatical year. A Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2008 043431814 57583RUS2 2008-03-27 40231354 Construct and equip campus facilities 0 0 0 B Massachusetts Development Finance Agency Mount Holyoke College Issue Series 2011A and 2011B 043431814 57583UFU7 2011-06-09 76131942 To refund 2001 bond issue and to construct and improve campus facilities 0 0 0 A 4144933 0 40231354 0 0 0 456354 0 0 39775000 0 0 2008 1 0 1 1 B 4061194 0 76131942 0 0 0 569268 0 0 30418092 45144582 0 2014 1 0 1 1 A 0 0 0 1 0 0 0.0033 0.0033 0 0 1 B 0 0 0 1 0 0 0.0036 0.0036 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 Schedule K, Part II, Line 11-06/09/2011 76,131,942 Massachusetts Development Finance Agency $45,144,582 represents the portion of the bond used to refund the College's 2001 bond issue. The projects funded by the 2001 bond issue were substantially completed in 2004. Schedule K, Part III, Line 3c-03/27/2008 40,231,354 Massachusetts Development Finance Agency The College receives government grant funding for basic research for the advancement of scientific knowledge with no commercial objective. Some research takes place in campus facilities that were constructed or renovated using tax exempt bond proceeds; however, the College meets the safe harbor for reporting this research as not being private use. Schedule K, Part III, Line 3c-06/09/2011 76,131,942 Massachusetts Development Finance Agency The College receives government grant funding for basic research for the advancement of scientific knowledge with no commercial objective. Some research takes place in campus facilities that were constructed or renovated using tax exempt bond proceeds; however, the College meets the safe harbor for reporting this research as not being private use. Schedule K, Part III, Line 3d-03/27/2008 40,231,354 Massachusetts Development Finance Agency Management reviews all contracts related to bond financed facilities and has engaged bond counsel to review any agreements that are deemed significant. Schedule K, Part III, Line 3d-06/09/2011 76,131,942 Massachusetts Development Finance Agency Management reviews all contracts related to bond financed facilities and has engaged bond counsel to review any agreements that are deemed significant. Schedule K, Part IV, Line 2c-03/27/2008 40,231,354 Massachusetts Development Finance Agency The College contracted with a third party to prepare the March 27, 2014 rebate computation for the Series 2008 issue. Schedule K, Part IV, Line 2c-06/09/2011 76,131,942 Massachusetts Development Finance Agency The College contracted with a third party to prepare the June 30, 2014 rebate computations for the Series 2011A and 2011B issues. Name not required Not required for colleges 15750 Tuition Exchange Tuition benefit for child Adage Capital Management Trustee's Husband 475297 Investment Management Fees 0 Blue Cross Blue Shield of Massachusetts Trustee 10803855 Insurance Premiums 0 Schedule L, Part IV The College has invested in Adage Capital Partners LP since October 2001. This investment was vetted by Cambridge Associates LLC, an independent advisory firm that performs due diligence and makes recommendations for investments. The husband of Trustee Elizabeth Cochary Gross is a partner at Adage Capital Management LP. * Trustee Helen Gannon Drinan is a member of the Board of Directors of Blue Cross Blue Shield Insurance Company. Through the employee benefits plan, the College offers health and dental insurance for eligible employees and their families through Blue Cross Blue Shield of Massachusetts and subsidizes the cost of insurance premiums. The amount reported above in Part IV, Line 2(c) represents both the employer and employee portions of insurance premiums paid during the fiscal year. X 4 6970 Opinions of experts X 15 81700 Opinions of experts X 256 4585365 Market value 14 0 1 1 Schedule M, Part I, Line 32b For gifts of tangible real or personal property that do not meet the College's mission objectives, the College engages the services of an auction house or real estate agent to sell the property and transfer the proceeds to the College. Form 990, Part VI, Section A, Line 4 During the fiscal year, the by-laws were amended to increase the number of potential Trustees from 31 to 34 and Term Trustees from 24 to 27 for the school years 2013-2014 and 2014-2015. Also, a new officer position was created, that of Vice President for Marketing and Communications. Form 990, Part VI, Section A, Line 7a According to the College's by-laws, five Trustees known as Alumna Trustees, shall be elected by the alumnae in accordance with the by-laws of the Alumnae Association. One Alumna Trustee shall be elected each year to serve for a period of five years. In addition, the President of the Alumnae Association shall serve as a sixth Alumna Trustee during her term of office. The election of Trustees, other than Alumnae Trustees, may be held at any regular or special meeting provided that written notice of such election, including the names of nominees, has been made at least three days prior to the meeting. Nominations shall be made by the Nominating and Governance Committee. Form 990, Part VI, Section B, Line 11b Annual review of the College's Form 990 is delegated to the Audit Committee. The Nominating and Governance Committee is responsible for reviewing the compensation sections of the Form 990 and reporting back to the Audit Committee. This process permits the group of Trustees (the Audit Committee) who are most knowledgeable to review the document on behalf of the entire Board. The Audit Committee reports any findings to the Board of Trustees and the complete copy of the Form 990 is provided to each Trustee prior to filing. Form 990, Part VI, Section B, Line 12c The College requires each member of the Board of Trustees to electronically transmit a Conflict of Interest Disclosure Form annually via the College's secured website. In addition, non-Trustee committee members, officers and employees with key responsibilities are asked to electronically submit Conflict of Interest Disclosure Forms annually. The Office of the President ensures that the completed forms are submitted by all Trustees and the Office of Finance and Administration ensures that the completed forms are submitted by all non-Trustee committee members, officers and employees with key responsibilities. The Office of Finance and Administration collects and records the submitted data from the secured website. The information on the submitted forms is summarized by the Vice President for Finance and Administration and Treasurer who provides a copy of the summary to the Audit Committee annually. The Audit Committee reviews the information disclosed and advises the President and the Chair of the Board as to potential conflicts. The Audit Committee may, at its discretion, delegate this annual review to the Chair of the Committee. By signing the Annual Conflict of Interest Disclosure Form, each individual agrees to answer any questions that Board members may have about potential conflicts. Form 990, Part VI, Section B, Line 15 Annually, the Human Resources Department assembles comparative salary data for all senior/executive positions at the College including: President and all Vice Presidents (Vice President for Academic Affairs/Dean of the Faculty, Vice President for Finance and Administration, Vice President for Advancement/Development, Vice President for Student Affairs/Dean of the College, Vice President for Enrollment and College Relations, and Vice President for Marketing and Communications) and the Secretary of the College. This process was last undertaken in May 2014 for each of the positions mentioned above. Salary data for these executive positions is compiled from the Administrators in Higher Education Salaries Survey conducted annually by the College and University Professional Association for Human Resources (CUPA-HR) and assembled and analyzed using several views (25th and 75th percentiles, median, and mean) for salary data from all private independent institutions by comparable budget quartile as Mount Holyoke College, and from participating Consortium on Financing Higher Education (COFHE) institutions. In addition, Mount Holyoke College participates in a survey on executive total compensation which is conducted annually by a third party compensation consultant (currently conducted by Sullivan, Cotter & Associates). Twenty-seven of the College's peer institutions also participate in this survey. Salary data from this survey is analyzed in a similar fashion to the CUPA-HR data. This salary data, along with salaries of current Mount Holyoke College incumbents, is assembled and shared with the Chair of the Board of Trustees and with the Chair of the Nominating and Governance Committee. The data is then presented to the full Nominating and Governance Committee for discussion and decision on what salary adjustments, if any, will be recommended and brought to the full Board for a vote at their executive session. The Chair of the Board of Trustees is responsible for the oversight of the review of performance of the President. The President is responsible for oversight of performance management for the Vice Presidents. With regard to the President's compensation, in addition to comparative salary data, the Human Resources Department also assembles a summary report of Presidential "total" compensation. This report is also reviewed by and discussed with the Nominating and Governance Committee and shared with the entire Board at their executive session. The process for determining the compensation of the College's officers meets the three requirements of the rebuttable presumption standard. The compensation arrangements are approved in advance by the organization's Nominating and Governance Committee. The Committee is appointed by the Board of Trustees for the purpose of assisting the Board in fulfilling its responsibility to the College and the community to ensure the compensation is in accordance with the College's policies. As mentioned, prior to making any compensation decisions, the Nominating and Governance Committee obtains and relies upon appropriate data as to comparability. The Committee utilizes compensation surveys that include comparable institutions to set compensation levels. Finally, the Nominating and Governance Committee adequately and timely documents the basis for setting compensation concurrently with the making of the determination. Form 990, Part VI, Section C, Line 19 The College makes its by-laws, conflict of interest policy and financial statements available to the public via the Mount Holyoke College website. In addition, the audited financial statements and Form 990 are available on the website of the Massachusetts Attorney General. Form 990, Part VII, Section A, Line 1a Ann Blake, Trustee and expert on the environmental impact of chemicals in consumer products, was paid an honorarium to speak on the science and policy of chemicals in global manufacturing. This campus event was sponsored by the Miller Worley Center for the Environment and the payment she received was not for services in her capacity as Trustee. Form 990, Part XI, Line 9 Other changes include Willits Hallowell Center support of -163,189, change in value of interest rate swaps of 507,379, change in FAS 158 pension liability of -488,360, and change in value of split interest agreements of 4,086,345. Willits Hallowell Center Inc c/o Mount Holyoke College 50 College Street South Hadley MA 01075 042565823 MHC Meetings MA 501(c)(3) 11(d) The Trustees of Mount Holyoke College 1 Alumnae Association of Mount Holyoke College c/o Mount Holyoke College 50 College Street South Hadley MA 01075 042105894 Alumnae Networking MA 501(c)(3) 11(a) N/A 0 Associated Kyoto Program Inc Smith College Controllers Office College Hall Room 204 Northampton MA 01063 042996114 Educational Exchange MA 501(c)(3) 11(d) N/A 0 Center Redevelopment Corporation 17 College Street South Hadley MA 01075 042939950 Real Estate MA 501(c)(3) 11(a) N/A 0 The Center Business Corporation 17 College Street South Hadley MA 01075 042983326 Small business investment MA Mount Holyoke College C -565 11372 1 1 Charitable Remainder Unitrusts (21) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Charitable Remainder Unitrusts Make Up (1) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Perpetual Trust (1) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 Pooled Income Funds (2) c/o Mount Holyoke College 50 College Street South Hadley MA 01075 Charitable Trust MA Mount Holyoke College T 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 Willits Hallowell Center Inc l 190740 Overhead Allocation Willits Hallowell Center Inc m 533392 Internal Sales Willits Hallowell Center Inc n 350000 Estimated fair market value of building Willits Hallowell Center Inc r 163189 Willits Hallowell Center subsidy Pooled Income Funds (2) s 627250 Mandatory Transfers