2014-05-14T12:11:15-07:00 2013-06-30 990 2012-07-01 236002304 CORPORATION OF HAVERFORD COLLEGE CORP 6108961248 370 Lancaster Avenue Haverford PA 190411392 Michael Gavanus 6108961249 2014-05-14 2012 2015-11-30 17:44:51Z HAVERFORD COLLEGE The Corporation of Haverford College 370 Lancaster Avenue Haverford PA 19041 144783098 0 X www.haverford.edu X 1833 PA Higher Education. Haverford College is committed to providing a liberal arts education in the broadest sense. 32 30 2067 1438 1088597 310552 27799243 24840617 69613714 72735384 19349485 18833788 38623 26335 116801065 116436124 21687247 22794124 0 0 50372626 52199225 32975 24361 4820570 36760726 38800788 108853574 113818498 7947491 2617626 587177772 628824043 157451113 152137927 429726659 476686116 Haverford College is committed to providing a liberal arts education in the broadest sense. This education, based on a rich academic curriculum at its core, is distinguished by a commitment to excellence and a concern for individual growth. Haverford has chosen to remain small and to foster close student/faculty relationships to achieve these objectives. The College's rigorous academic program is flexible in form and content to meet the needs of individual students, and rests on the assumption that the able students who come here will use their capacities fully. Haverford's faculty is noted for its strength in both scholarship and teaching, and its members expect to transmit to students their enthusiasm and high standards. The faculty members are teaching at an undergraduate college of arts and sciences by choice, and they expect to learn, as well as to teach, in this close relationship with undergraduates. 0 0 70691820 0 52153146 Instruction (undergraduate liberal arts): academic support, financial aid and research- 1245 student FTS; 151.6 faculty FTE; 299 degrees conferred in 12/13. The majority of research awards and in the natural sciences. Federal funds support 21 grants including 6 ARRA grants, PA state funds support 2 grants, 8 by private foundations. The College supports the balance. Financial Aid - 593 students received Haverford College grants totaling $22,036,015; 49 students received FSEOG grants totaling $143,905; and 163 students received $574,204 for internship awards. 12325865 0 405996 Student Services- Dean, Registrar, Counseling, Career Development, Health Services, Athletics, Disability Services, Security and miscellaneous services. While these offices support student health, development and well-being in different ways, they all share an approach that is based on respect for student choices and a fundamental commitment to the importance of education in the decision-making process.The staff of these offices are committed to helping students achieve their potential both as individuals and as members of a community. 15874066 0 17480960 Auxiliary Enterprises (dorms, dining center, faculty housing, conference program). Haverford College is a residential institution where most of the student body live on campus and actively and actively participates in campus life. The dorms housed 1167 students; 896 were on the board plan. The College provided 69 spaces for rent to the faculty to foster educational interaction with students. 40000 40000 0 Higher Education: Grants paid from donor advised funds to other 501(c)(3) charities. (3 charities) 40000 40000 0 98931751 1 1 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 1 0 1 0 1 1 0 0 1 0 0 0 0 1 2034 0 1 2067 1 1 1 0 0 0 0 0 0 0 0 0 X 32 30 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AZ CA CO DC HI KY MA MD MI NH NJ NY OH OK OR PA WA WI X X Michael Gavanus 6108961248 370 Lancaster Ave Haverford PA 190411392 James L Boyer 2 0 X 0 0 0 Peter Abramenko 2 0 X 0 0 0 Jonathan Wood Evans 2 0 X 0 0 0 Christopher Dunne 2 0 X 0 0 0 Michael B Kim 2 0 X 0 0 0 Catherine P Koshland 2 0 X 0 0 0 Howard W Lutnick 2 0 X 0 0 0 Irene E McHenry 2 0 X 0 0 0 John M Morse 2 0 X 0 0 0 Christopher K Norton 2 0 X 0 0 0 Christopher T Gant 2 0 X 0 0 0 Sheila K Sachs 2 0 X 0 0 0 Allan Richard White III 2 0 X 0 0 0 James Friedman 2 0 X 0 0 0 Steven M Jaharis 2 0 X 0 0 0 Garry W Jenkins 2 0 X 0 0 0 Jennifer C Boal 2 0 X 0 0 0 Roger B Kafker 2 0 X 0 0 0 Jacqueline V Brady 2 0 X 0 0 0 Dana Shanler Ladden 2 0 X 0 0 0 Elizabeth Enloe 2 0 X 0 0 0 Anjan K Chatterjee 2 0 X 0 0 0 Ann V Satterthwaite 2 0 X 0 0 0 Elon E Spar 2 0 X 0 0 0 Charles G Beever 2 0 X 0 0 0 John R Taylor 2 0 X 0 0 0 Joanne Creighton 60 0 X X 408333 0 140402 Seth P Bernstein 2 0 X 0 0 0 William J Marsden 2 0 X 0 0 0 Paul G Zoidis II 2 0 X 0 0 0 Sarah Willie-LeBreton 2 0 X 0 0 0 Timur F Galen 2 0 X 0 0 0 G Richard Wynn 60 0 X 249683 0 43990 Jess Lord 60 0 X 139367 0 34018 Michael Kiefer 60 0 X 252630 0 37002 Martha Denney 60 0 X 149600 0 29544 Joseph Spadaro 60 0 X 181000 0 39154 Kimberly Benston 60 0 X 207940 0 42322 Michael H Casel 60 0 X X 221833 0 42966 Jerry Gollub 60 0 X 200418 0 25650 Linda Gerstein 60 0 X 152470 0 25353 Curtis Greene 60 0 X 170988 0 29423 Stephen G Emerson 60 0 X X 165651 0 68476 Linda Bell 60 0 X 201021 0 60600 2700934 0 618900 78 1 1 0 W S Cumby Inc 938 Lincoln Avenue Springfield PA 19064 Construction 6502931 Cambridge Associates LLC PO box 83232 Chicago IL 606910232 Investment advisors 277563 Pricewaterhousecoopers LLP PO Box 7247-8001 Philadelphia PA 191708001 Professional auditors 249218 Navigator Management Consultants PO Box 715564 Columbus OH 432715564 Software Implementation 219113 Tod Williams Billie Tsien Architects LLP 222 Central Park South New York NY 10019 Architect consultants 209893 15 0 0 0 0 1732527 23108090 1800434 24840617 Tuition and fees 611310 54494489 54494489 0 0 Auxiliary enterprises 900099 17480960 14944610 500299 2036051 759935 596790 0 163145 72735384 7521716 0 588298 6933418 0 0 0 0 0 0 0 0 25981 0 0 0 25981 0 25981 0 0 25981 30853045 7534596 27075569 0 3777476 7534596 11312072 0 0 11312072 0 1267546 1271405 -3859 0 0 -3859 Quaker library 611310 2246 2246 0 0 Summer volunteer program 900099 1067 1067 0 0 College Arboretum 900099 900 900 0 0 0 0 0 0 4213 116436124 70040102 1088597 20466808 40000 40000 22150936 22150936 603188 603188 0 0 2400101 1026970 933648 439483 0 0 0 0 36336462 27915727 6394367 2026368 3784415 2826958 715254 242203 6902779 5156376 1304625 441778 2775468 2073275 524563 177630 0 0 0 0 242253 9310 212852 20091 210549 0 210549 0 0 0 0 0 24361 24361 1786357 0 1786357 0 6363365 3585362 2624928 153075 74948 47674 27274 3017898 1629242 1157756 230900 1428381 992699 350026 85656 0 0 0 0 2987464 2570914 282526 134024 1643054 1093316 359303 190435 0 0 0 0 185031 114864 52678 17489 5963983 5016889 776617 170477 0 0 0 0 7259159 6743465 422869 92825 256947 218405 25695 12847 Minor Equipment 1366494 1078133 270742 17619 Study Away program expenses 2022466 2022466 0 0 Food Services 2309522 2045527 178037 85958 Dues, memberships & subscriptions 1340871 1250247 80073 10551 342046 8719808 -8624562 246800 113818498 98931751 10066177 4820570 0 0 29850341 16034279 14203505 14937280 1133434 1280231 768025 714721 0 0 0 0 449608 402554 216972 647442 247970358 109896593 136093835 138073765 117903069 113371960 280550548 338574655 1997361 1603060 0 0 4011074 3184096 587177772 628824043 5931863 3961956 0 0 3467909 3997091 123461129 123295947 0 0 0 0 0 0 0 0 24590212 20882933 157451113 152137927 X 140449350 140686405 112755261 148683140 176522048 187316571 429726659 476686116 587177772 628824043 X 2617626 42117022 0 1786357 0 438452 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1000 0 130000 10000 1306760 302478 1 1 33876 4449410 0 0 X X X 0 1 494713 612401 494592 612522 0 387446075 44644882 57977592 4466071 17467422 1873845 466261211 402729669 8035649 510412 4057851 16970936 2800868 387446075 355500298 6865272 61484887 3708640 14633057 2779091 402729669 336085820 5451420 33178648 3402225 14473951 1339414 355500298 521307851 10637065 -170364959 4977583 19515424 1001130 336085820 0.5 0.2 0.3 0 0 0 4720752 4720752 0 204584579 84083527 120501052 0 0 0 0 0 23317108 19218819 4098289 0 15347919 6594247 8753672 138073765 Equity and Fixed Income Funds 146188549 F Private Equity and Venture Capital 81268092 F Hedge and Real Estate Funds 111118014 F 338574655 Interest rate swap liability 9486434 Planned giving liabilities 9435998 Government advances for student loans 747542 Asbestos ARO liability 676020 Refundable advance 536939 20882933 X 137896756 42117022 0 0 1858416 43975438 93921318 0 22514806 22514806 116436124 90937236 0 0 0 -20505522 -20505522 111442758 1786357 589383 2375740 113818498 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Special collections of art and historical treasures serve to advance scholarship and to further teaching, research and service. Special collections range from Quaker collections to College archives to rare manuscripts to fine art assets. The Quaker collection consists of manuscripts, as well as numerous photographs, artworks, artifacts, furniture and films. The College archives include records, publications and artifacts produced by offices, committees and student groups. Rare book and manuscript collections strengths include American and English literature, history and politics. Today, the collection of fine art encompasses three areas: material in support of the College curricula, material that documents the College's history and material that documents the history of Quakerism. SchD_P04_S00_L01b Schedule D, Part IV, Line 1b The College is trustee of the William Maul Measey Trust. The College is entitled to 60% of the gross income of the Trust and includes 60% of the Trust assets in its financial statements and Form 990. The remaining 40% of the gross income is distributed to certain secondary schools for student financial aid. The 40% of Trust principal at June 30, 2013 was $29,060,799. The 40% of Trust income distributed to the schools is reported in Lines 12-f. The secondary schools that currently receive trust income are George School, Westtown School, Scattergood Friends School and Olney Friends School. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College spends a prudent amount of its endowment annually to support the educational mission of the College in accordance with donor restrictions and internal designations. SchD_P10_S00_L02 Schedule D, Part X, Line 2 Subsequent Events: Management evaluated events and transactions that occurred after the balance sheet date for potential recognition and disclosure through December 11, 2013, the date on which the financial statements were available to be issued. No significant subsequent events were noted SchD_P11_S00_L02d Schedule D, Part XI, Line 2d Change in contributions receivable $184,018; Indirect cost recovery $348,993; Bookstore expenditures $1,271,405; Bookstore rent (internal) $54,000 SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Financial aid $22,179,920; Interdepartmental revenue net of expenses $334,886 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Financial aid ($22,179,920); Indirect cost recovery $348,993; Bookstore expenditures $1,271,405; Internal bookstore rent $54,000. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Other Investment office expenses $589,382; rounding $1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Such a policy is published in our catalog and other admissions literature. Also, the policy is published in newspapers or the internet when advertising for employment. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency: FWS $105,649; FSEOG $119,655; PELL $799,939; PHEAA-FWS match $13,563; PHEAA IAG $26,656 1 Central America and the Caribbean 0 0 Investments Endowment foreign passive investments 45097931 North America (including Canada and Mexico, but not the United States) 0 0 Investments Endowment foreign passive investments 6442221 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad program fees 733557 Central America and the Caribbean 0 0 Program Services Study abroad program fees 10557 East Asia and the Pacific 0 0 Program Services Study abroad program fees 61308 East Asia and the Pacific 0 0 Fundraising Four Haverford College employees attended the International Council in Hong Kong. The primary purpose was to foster greater awareness of Haverford College internationally and promote greater international emphasis in academic and outreach areas of the College. 11295 Europe (including Iceland and Greenland) 0 0 Fundraising Employee travel to meet with alumni who can help further long-term and mutually enriching relationships. 7377 Middle East and North Africa 0 0 Program Services Scholarships to foreign students 55054 Sub-Saharan Africa 0 0 Program Services Scholarships to foreign students 205091 South Asia 0 0 Program Services Scholarships to foreign students 50629 Europe (including Iceland and Greenland) 0 0 Program Services Scholarships to foreign students 100118 East Asia and the Pacific 0 0 Program Services Scholarships to foreign students 185796 0 0 52960934 Scholarships to foreign students Middle East and North Africa 1 55054 cash payment 0 FMV Scholarships to foreign students Sub-Saharan Africa 4 205091 cash payment 0 FMV Scholarships to foreign students South Asia 1 50629 cash payment 0 FMV Scholarships to foreign students Europe (including Iceland and Greenland) 2 100118 cash payment 0 FMV Scholarships to foreign students East Asia and the Pacific 4 185796 cash payment 0 FMV 1 0 0 0 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 The procedures to monitor College scholarships (grant aid) awarded to nonresident aliens are the same procedures as scholarships awarded to citizens of the United States. Haverford College scholarships are based solely on need. The College does not have any grant aid based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College, the VP Finance and Administration and the Associate VP of Finance. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. X X X X X X 1 Plus Delta Partners 6965 El Camino Real STE 105-488 Carlsbad CA 92009 Campaign consultant 0 0 24361 -24361 0 24361 -24361 AL AR AZ CA CO CT DC FL GA IL KS KY MA MD ME MI MN MO NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV SchG_P01_S00_L02b Schedule G, Part I, Line 2b Plus Delta Partners provided professional fundraising consulting services for and on behalf of the College. They did not engage in any direct solicitations of contributions for and on behalf of the College and therefore have no custody or control on any college contributions. 1 Award of Courage Corporation 9 Winchester Ln Homdel NJ 07733 861148848 501(c)3 30000 FMV General support pursuant to the terms of a donor advised fund agreement. 1 0 Scholarships for Haverford College students 579 21432827 0 Cost FSEOG grants for Haverford College students 49 143905 0 Cost Internships for Haverford College students 163 574204 0 Cost SchI_P01_S00_L02 Schedule I, Part I, Line 2 Haverford College scholarships are based solely on need. The College does not have any grant aid based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College, the VP of Finance and Administration and the Associate VP of Finance. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. Supplemental Education Opportunity grants (FSEOG) are awarded based on family contribution. Eligibility is determined by the FAFSA and regulations determined by the U.S. Department of Educations that students who receive Pell grants be provided FSEOG funds first. Other verification forms may be required if the student is selected including the Verification Statement, parent and student tax returns and non-tax filer statements. FSEOG awards are credited directly to the student's account for tuition, room, board and other billed charges. FSEOG awards are audited annually by the College's outside auditors in conjunction with the A-133 federal funds audit. Student internships are awarded through an application and committee review process. The internship awards are paid directly to the student for travel, room, board and other fees. This assistance enables the students to engage in unpaid internships in a variety of domestic and international locations. Some of the areas of study include Humanities, Global Citizenship, Sciences and Entrepreneurship. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Joanne Creighton 408333 0 0 0 17417 0 0 0 140412 0 566162 0 0 0 Michael Kiefer 252630 0 0 0 0 0 0 0 37002 0 289632 0 0 0 G Richard Wynn 249683 0 0 0 0 0 0 0 43990 0 293673 0 0 0 Kimberly Benston 207940 0 0 0 0 0 0 0 42322 0 250262 0 0 0 Linda Bell 201021 0 0 0 0 0 0 0 60600 0 261621 0 0 0 Joseph Spadaro 181000 0 0 0 0 0 0 0 39154 0 220154 0 0 0 Martha Denney 149600 0 0 0 0 0 0 0 29544 0 179144 0 0 0 Jess Lord 139367 0 0 0 0 0 0 0 34018 0 173385 0 0 0 Michael H Casel 221833 0 0 0 0 0 0 0 42966 0 264799 0 0 0 Jerry Gollub 200418 0 0 0 0 0 0 0 25650 0 226068 0 0 0 Curtis Greene 170988 0 0 0 0 0 0 0 29423 0 200411 0 0 0 Stephen G Emerson 165651 0 0 0 0 0 0 0 68476 0 234127 0 0 0 Linda Gerstein 152470 0 0 0 0 0 0 0 25353 0 177823 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Travel for Companions: Joanne Creighton, Interim President, agreed in her employment contract to spousal travel. Haverford College will reimburse the Interim President for reasonable and customary travel expenses when her husband travels with her on official College business. Travel expenses are reviewed for business purpose and reimbursed according to an accountable plan. Housing Allowance or Residence for Personal Use: Joanne Creighton, Interim President, resides on campus free of rent. Martha Denney, Dean of the College, resides on the College's campus at a subsidized rent. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Interim President Creighton has an arrangement with the College, allowable under the IRS Code, that permits her to tax defer more of her earnings than the standard amount she would be able to do under the College's 403(b) plan. This additional tax deferral was done as a 457(f) Deferred Compensation plan. The amount deferred for 2012 was $17,417. A Delaware County Authority 231973437 246003LH8 2008-05-08 61050987 Capital improvements to College facilities and redemption 2003 0 0 0 B Delaware County Authority 231973437 246003LX3 2010-04-29 44944290 New dorm and partial refund 2008 Bonds 0 0 0 C Delaware County Authority 231973437 246003MG9 2010-11-15 45929465 Refund 2000 Bonds 0 0 0 A 31400945 0 61050987 0 0 0 651393 0 0 6725430 53674163 0 2009 1 0 1 1 B 690793 0 44944290 0 1533228 0 531618 0 0 13879444 29000000 0 2012 1 0 1 1 C 715030 0 45929465 0 0 0 454538 0 24927 0 45450000 0 2011 1 0 1 1 A 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 0 A 0 0 1 0 1 1 Deutsche Bank 20 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 1 1 1 0 0 0 0 1 A 1 B 1 C 1 SchK_P04_S00_L02c Schedule K, Part IV, Line 2c N/A Michael Keifer Officer Home mortgage X 500000 419999 0 0 1 Joseph Spadaro Officer Home mortgage X 320000 294722 0 0 1 714721 Carol Solomon Spouse of officer and Faculty member 7472 To be used in the futherance of her faculty research through reimbursement of business expenses Carol Solomon Spouse of officer 67241 Employee compensation 0 X 5 2326 FMV X 151 FMV X 105 1766558 FMV X 3 30801 FMV X Archival Records 2 2 FMV X Event Materials 3 292 Cost X Gift Card 8 304 Cost 0 0 1 0 F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Howard Lutnick, manager, had a business relationship with another manager, Elon Spar. Seth Bernstein, manager, and Allan R White, manager, serve together on the Board of Directors of another company. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Corporation of Haverford College has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers for at least six consecutive years. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Corporation of Haverford College ("the Corporation") has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers ("the Board") for at least six years. The Corporation makes any amendments to the bylaws. The Corporation seeks by advice and example to strengthen and enrich Haverford's heritage as a Quaker educational institution. The Board has responsibility for all aspects of the operation and management of the College. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The College's Audit Committee reviewed the Form 990 before it was filed. The Form 990 was sent to all Board members before being filed, noting that it was reviewed and approved by the Audit Committee. The Form 990 will be available on the College's website. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each year a questionnaire is handed out and sent electronically to Board members, officers and key employees. The President's office tracks and ensures compliance with completing and submitting the conflict of interest questionnaire. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined after an annual review by the Board's Committee on Presidential Compensation and Review. The review along with private college executive compensation surveys help determine the President's salary. The President reports to the Board relating to the annual process for determining the compensation of other officers (VP Finance and Administration, VP Institutional Advancement, Provost, Dean of the College, Chief Information Officer and Dean of Admissions). The Committee on Presidential Compensation and Review reports on both of these procedures to the Board in executive session. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College's financial statements and conflict of interest policy are available to the general public through our website, Guidestar's website and upon request. Currently, the College does not publish our governing documents, however, these are available upon request. F990_P11_S00_L09 Form 990, Part XI, Line 9 Change in contributions receivable $184,018; Interdepartmental revenue net of expenses ($334,886); Other investment office expenses $589,382; Miscellaneous adjustment ($62). Haverford College Foundation (UK) Limited 19 Norcott Road London UK N16 7EJ 236002304 Fundraising UK 1973773 503394 The Corporation of Haverford College