2014-05-12T09:24:40-05:00 2013-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2012-07-01 240795686 Lafayette College % STEPHEN A SCHAFER LAFA 6103305136 730 High St 202 Markle Hall Suite Easton PA 180421779 Stephen Schafer 6103305136 2014-05-12 true 2155614200 2012 2015-11-30 17:44:51Z Dr Alison Byerly President 730 High St 316 Markle Hall Easton PA 180421779 317277267 false X www.lafayette.edu X 1826 PA Provision of educational services as an accredited four-year undergraduate college. 33 32 2454 3101 -2513637 -2686518 25317229 23448552 127367634 132259608 32586302 56938067 1392496 1653152 186663661 214299379 36009489 36910622 0 0 74031927 77113834 58252 93278 4030000 69426421 65996416 179526089 180114150 7137572 34185229 1006873292 1068647504 281682757 273864169 725190535 794783335 X In an environment that fosters the free exchange of ideas, Lafayette College seeks to nurture the inquiring mind and to integrate intellectual, social, and personal growth. The College strives to develop students skills of critical thinking, verbal communication, and quantitative reasoning and their capacity for creative endeavor; it encourages students to examine the traditions of their own culture and those of others; to develop systems of values that include an understanding of personal, social, and professional responsibility; and to regard education as an indispensable, lifelong process. false false 133843277 36910622 107159442 Lafayette College is a liberal arts college offering Bachelor of Arts and Bachelor of Science degrees in disciplines housed in four broad divisions - Humanities, Engineering Natural Sciences, and Social Sciences. In Fall 2012, the 2,488 students who were enrolled full time at Lafayette hailed from 44 states and over 50 countries - 92% of whom lived on campus. The College is committed to meeting 100% of demonstrated need for its families, mostly through grant-based scholarship, but also through loans and student employment. Approximately 50% of Lafayette students receive financial aid from the College. A Lafayette education includes an intimate academic experience with a published student-to-faculty ratio of less than 11 to 1. Of the 217 full-time faculty, 214 hold a doctorate or other terminal degree. 589 students were awarded an undergraduate degree in the Spring of 2013 and over 90% of students who enroll at Lafayette graduate and 89% do so within four years. In addition, 95% of the College's graduates are employed, in graduate school, or have secured internships within 6 months after graduation. More than half of the College's students (53%) have studied abroad by the senior year and 79% have participated in community service and volunteer work by the time they graduate. 21918035 0 25100166 As a residential college, Lafayette students compliment their academic scholarship with a myriad of opportunities to connect with one another and learn from the large world represented on the College's campus. Approximately 92% of the College's full time students live on campus. As part of their experience at a residential college, Lafayette students are deeply engaged academically and have significant opportunities to engage in a vast offering of extracurricular and co-curricular possibilities. Lafayette College offers more than 250 student clubs and organizations, 23 NCAA Division 1 athletic programs, and numerous experiences in the fine arts and performing arts all of which are complimented by a strong student life program that enhances the Lafayette experience beyond the classroom. 155761312 true true false false false false false true false true true true false false true true true false true false true false false true true false false true true true true false false false false false false false false true false true true false false false false false false false true 4637 0 true 2454 true true true true CJ UK false false false true true false false false false X 33 32 true false false false false false false true true false false true true true true true true true true false PA X X STEPHEN A SCHAFER 6103305136 730 HIGH ST 202 MARKLE HALL Easton PA 18042 Edward W Ahart 5.0 X 0 0 0 Stephen D Pryor 5.0 X 0 0 0 Nancy J Kuenstner 5.0 X 0 0 0 Susan B Carras 3.0 X 0 0 0 Joseph T Cox 3.0 X 0 0 0 Alan R Griffith 3.0 X 0 0 0 George M Jenkins 3.0 X 0 0 0 Harold N Kamine 3.0 X 0 0 0 Barbara Levy 3.0 X 0 0 0 Elisabeth H MacDonald 3.0 X 0 0 0 Bruce Maggin 3.0 X 0 0 0 Angel L Mendez 3.0 X 0 0 0 David M Roth 3.0 X 0 0 0 J Peter Simon 3.0 X 0 0 0 Carl G Anderson Jr 2.0 X 0 0 0 James R Birle Jr 2.0 X 0 0 0 Samuel R Chapin 2.0 X 0 0 0 Sylvia Daniels Weaver 2.0 X 0 0 0 James R Fisher 2.0 X 0 0 0 John A Fry 2.0 X Brent D Glass 3.0 X 0 0 0 Michael C Heaney 2.0 X 0 0 0 Leo A Helmers 2.0 X 0 0 0 Judson C Linville 2.0 X 0 0 0 Douglas R Marvin Esq 2.0 X 0 0 0 Paul F McCurdy Esq 2.0 X 0 0 0 Donald E Morel Jr 2.0 X 0 0 0 J B Reilly 2.0 X 0 0 0 S Kent Rockwell 2.0 X 0 0 0 Alma R Scott-Buczak 2.0 X 0 0 0 Robert E Sell 2.0 X 0 0 0 Mary Stengel Austen 2.0 X 0 0 0 Daniel H Weiss 50.0 X X 548954 0 84207 Wendy L Hill 50.0 X 277556 0 58874 James W Dicker 50.0 X 310799 0 37950 Annette Diorio 50.0 X 120234 0 17246 Celestino J Limas 50.0 X 321906 0 47213 Robert J Massa 50.0 X 224206 0 27721 Leslie F Muhlfelder 50.0 X 236188 0 36596 Mitchell L Wein 50.0 X 329204 0 38210 Paul H Zimmerman 45.0 X 234291 0 16042 John Kincaid 45.0 X 196752 0 24976 James F Krivoski 45.0 X 180255 0 23348 Bruce A Murphy 45.0 X 197947 0 32056 Francis B O'Hanlon 45.0 X 213952 0 99135 3392244 0 543574 113 false true false Sodexo Inc Affiliates PO Box 360170 PITTSBURGH PA 15251 Dining Services 6964910 Whiting-Turner Contracting Co PO Box 17596 BALTIMORE MD 21297 Construction 4073414 Miller Miller Mclachlan Construct 1249 Newport Avenue NORTHAMPTON PA 18067 Construction 2939183 AS Gale Construction Inc 9107 N Delaware Drive BANGOR PA 18013 Construction 718319 IES 33 W Monroe Street Suite 2300 CHICAGO IL 60603 Engineering 568035 20 44901 1778196 21625455 2939942 23448552 TUITION & FEES 900099 104906204 104906204 AUXILIARY SERVICES 900099 25100166 25100166 ATHLETICS/SPORTS NETWORK 900099 1458425 1458425 JOHNS HOPKINS CTY 900099 794813 794813 132259608 9532633 -2640061 12172694 0 0 668500 619365 49135 0 49135 49135 147870367 2904 100467837 47402530 2904 47405434 71258 47334176 75871 44901 51184 24687 24687 0 1993248 1839502 153746 30166 123580 FEES, FINES AND COST RECOVERY 900099 504615 504615 MISCELLANEOUS 900099 920969 25000 895969 1425584 214299379 132259608 -2513637 61104856 102333 102333 36808289 36808289 0 0 2489761 437691 1740093 311977 0 54233519 40601022 11623530 2008967 4585622 3201570 1197015 187037 11852264 8332689 3043950 475625 3952668 2782122 1012362 158184 0 315084 312588 2496 236411 236411 0 93278 93278 2524257 2524257 9819507 6340844 3478663 134972 84020 50952 3038598 2030775 735241 272582 1344835 1255160 87520 2155 0 4766256 2234855 2531401 6282141 5303252 784519 194370 0 1018574 579895 275701 162978 7574452 7553062 17044 4346 0 13576129 13250492 325637 990270 396373 588781 5116 AUXILIARY SERVICES 7198737 7198737 NON-OFFICE SUPPLIES 3403876 1983750 1301403 118723 ALLOC OF INDIRECT OVERHEAD 12485956 -12497840 11884 OTHER EXPENSES 3772317 2798425 953610 20282 180114150 155761312 20322838 4030000 17143 11816 47162130 63850703 10389670 12813437 1646140 1358300 0 0 0 0 4502629 4143702 657972 634403 4594051 2527035 464509593 208580364 255744187 255929229 247602387 298583350 422416713 424388959 0 0 0 0 12140270 4406570 1006873292 1068647504 9748133 10512474 2024586 2040610 5732373 6767295 170331308 169874011 0 0 0 0 2866661 3274211 0 0 90979696 81395568 281682757 273864169 X 223608141 246164007 236320296 263656272 265262098 284963056 725190535 794783335 1006873292 1068647504 34185229 29917948 5489623 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 76795 2870829 X X X X false 681536166 12952840 86688907 6912692 22709903 2524257 749031061 688870101 17780488 4972499 7228214 20714321 2144387 681536166 609602972 12832458 96467560 7952953 20300252 1779684 688870101 562015101 2968035 74861818 8142053 20624424 1475505 609602972 707312579 9312825 -124340445 8848524 19761786 1659548 562015101 0.27880 0.38040 0.34080 true false 4153852 4153852 328367974 123309305 205058669 47505593 16790538 30715055 77833027 66945717 10887310 6649147 1534804 5114343 255929229 10472916 F EQUITY INSTIT. MUTUTAL FUNDS 113705067 F EVENT DRIVEN/DISTRESSED 20937202 F LONG/SHORT EQUITY 32030593 F MULTI-STRAGEGY/ABSOLUTE RETURN 108042493 F OPPORTUNISTIC FIXED INCOME 55145561 F REAL ESTATE 24187980 F PRIVATE EQUITY 59867147 F 424388959 0 INT RATE HEDGE/SWAP AGREEMENTS 14406026 ASSET RETIREMENT LIABILITY 1560618 ANNUITIES PAYABLE 19982924 POSTRETIREMENT BENEFITS 45446000 81395568 X 213013026 29917948 -31190095 -1272147 214285173 2524257 -2510051 14206 214299379 143420226 2510051 2510051 140910175 2524257 36679718 39203975 180114150 COLLECTIONS OF ART, HISTORICAL TREASURES, ETC. FORM 990, SCHEDULE D, PART III, LINE 4 Among the rich resources provided for students is a fine, small art collection. The collection includes eighteenth-through early twenty-first century American and European paintings, prints, and sculpture; vintage photographs; and contemporary American sculpture and paintings. Recent acquisitions build on the strength of the existing collections. The Mission Statement for the art collections is to document, preserve for future generations, exhibit, and make accessible the College's art collection to the students, public, and scholars through exhibitions, publications, reproductions, and by granting access for research purposes. The administration of the art collection complies with museum-field wide standards of care (see American Alliance of Museums, AAM). Students have curated exhibitions from the collections; when appropriate, artwork is loaned to other institutions for exhibitions of scholarly importance; images of artwork are readily available for reproductions in commercial (ex: text books) and academic-scholarly publications (generally at no charge or a nominal fee). The Lafayette College's special collections and college archives are home to approximately 20,000 rare books and more than 2,000 cubic feet of manuscripts and archives. The holdings include manuscripts, rare books, prints and memorabilia relating to the Marquis de Lafayette; rare book collections on Stephen Crane, angling, miniature books, and artists' books; papers of former Treasury Secretary William E. Simon, New Jersey Governor Robert B. Meyner and Congresswoman Helen Meyner; the early records of the Easton-based Dixie Cup Company and the papers of noted illustrator and artist Howard Chandler Christy. The college archives serves as the repository for the records of Lafayette College, dating back to the founding of the College in 1824-1826. It is charged with records management responsibilities for current college records. The archives also include more than 50,000 photographs, audio-visual recordings, and objects that document the college's history. LAFAYETTE COLLEGE MINERAL COLLECTION The Department of Geology and Environmental Geoscience houses the College's mineral, gem, and fossil collection that consists of more than 10,000 specimens. The collection was started over a century ago and has grown through the gift of many private collections. The collection is housed in Van Wickle Hall and a large number of specimens are on display in the Geology Museum in the center of Van Wickle Hall. The collection is managed by a professional curator who works part time to curate the collection and cycle minerals from storage through the display cases. The growth and maintenance of the collection is partially supported by an endowed fund gifted by John Pohl along with the donation of his mineral collection in 1952. The collection has grown significantly during the past 10 years donations totaling more than 1,000 specimens from several donors. The centerpiece of the collection is a two-ton piece of Orbicular Granodiorite quarried in Western Australia. The granitoid formed in a magma chamber 2.7 billion years ago and the orbicular texture earned it the informal name of, the leopard rock. The collection is enjoyed by the Lafayette community, elementary and secondary students, youth groups, and the community at large. ENDOWMENT INVESTMENT GUIDELINES FORM 990, SCHEDULE D, PART V The intent of the College's investment guidelines for its endowment is to provide a predictable stream of funding to the College's programs from the endowment while seeking to maintain the purchasing power of the endowment assets. The College's endowment consists of approximately 1,300 endowed funds that are established for a variety of purposes. Endowment contributions include gifts as well as transfers to Board designated endowment funds. Earnings on endowment funds are designated for scholarships, professorships, chairs, student loans, instructional programs, library purchases, general operations, and other designated purposes. FIN 48 FOOTNOTE FORM 990, SCHEDULE D, PART X, LINE 2 A tax position is recognized or derecognized by the College based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The College does not believe its financial statements include uncertain tax positions. RECONCILIATION OF Revenue FORM 990, SCHEDULE D, PART XI LINE 2D: FINANCIAL AID GRANTS TO STUDENTS (36,679,718) CHANGE IN ANNUITIES PAYABLE ESTIMATE 873,985 DISTRIB FROM PRINCIPAL TO FUND ANNUITIES PAYABLE (1,645,264) CHANGE IN MV OF INTEREST RATE SWAP AGREEMENTS 5,794,693 PROVISION FOR UNCOLLECTIBLE NON OP PLEDGES REC (247,891) CHANGE IN POSTRETIREMENT BENEFIT COST 2,461,000 VOLUNTARY RETIREMENT INCENTIVE - (FAC & NON FAC) (1,746,900) ---------- TOTAL LINE 2D: ($31,190,095) ============= LINE 4B: FUNDRAISING EXPENSES (51,184) RENTAL EXPENSES (619,365) COST OF GOODS SOLD (1,839,502) ----------- TOTAL LINE 4B ($2,510,051) =========== RECONCILIATION OF Expenses FORM 990, SCHEDULE D, PART XII LINE 2D: FUNDRAISING EXPENSES 51,184 RENTAL EXPENSES 619,365 COST OF GOODS SOLD 1,839,502 ---------- TOTAL LINE 2D $2,510,051 ========== LINE 4B: FINANCIAL AID GRANTS TO STUDENTS 36,679,718 ----------- TOTAL LINE 4B $36,679,718 =========== true true true true true true true false false false false false false false false true false true Racial Nondiscriminatory Policy Form 990, Schedule E, Part I, Line 3 The College's racial nondiscriminatory policy is publicized within the College's catalog which can be found at http://catalog.lafayette.edu/. In addition, the College has a separate Diversity and Inclusiveness Statement which is also included within the College's catalog at http://catalog.lafayette.edu/. Financial Aid from a Governmental Agency Form 990, Schedule E, Part I, Line 6a The College receives financial aid and assistance from various Federal and State Governmental agencies under their respective student financial aid assistance programs. Federal grant programs include Pell Grants, Direct Loan Programs, Work-Study, the Perkins Loan Program, and Federal Supplemental Educational Opportunity Grants. State programs include the Pennsylvania Higher Education Assistance Agency. In addition, the College is awarded research grants and other project grants by various Federal and State agencies. Central America and the Caribbean Investments 199598565 North America Investments 62543478 South America Investments 24484748 Central America and the Caribbean Program Services Academic Support 1575 Central America and the Caribbean Program Services Institutional Support 2035 East Asia and the Pacific Program Services Academic Support 2187 East Asia and the Pacific Program Services Instruction 17332 East Asia and the Pacific Program Services Research 2154 Europe (Including Iceland and Greenland) Program Services Academic Support 17529 Europe (Including Iceland and Greenland) Program Services Instruction 582210 Europe (Including Iceland and Greenland) Program Services Research 14192 North America Program Services Academic Support 33679 North America Program Services Institutional Support 52897 North America Program Services Instruction 44898 North America Program Services Research 7397 North America Program Services Student Services 72200 South Asia Program Services Instruction 722 287477798 287477798 true false false false true false MISCELLANEOUS INFORMATION FORM 990, SCHEDULE F, PART 1, LINE 1 The amounts reported on Part I are identified on a reasonable efforts basis where such activities were not tracked separately under the College's accounting procedures. These reasonable efforts include reviews of financial records and interviews with College personnel. The majority of the Colleges expenditures outside of the United States are associated with the College's investment activities. In addition, the College expends funds outside of the United States on various study abroad programs. Students enrolled in study abroad programs pay their tuition and fees directly to Lafayette College and the College remits payments to the overseas program on behalf of the students. Any financial aid awarded to a student that may support the costs associated with their study abroad activities are credits to the student's account at the College. X X X X X X X true WASHBURN MCGOLDRICK 950 New Loudon Road Suite 210 Latham NY 12110 Consulting false 0 38631 Harris Inc c/o iModules Software PO Box 25572 Overland Park KS 66225 Alumni Site false 0 17000 Pentera Inc 8650 Commerce Park Place Suite G Indianapolis IN 46268 Mail Marketing false 0 13010 Publishing Concepts Inc 4835 LBJ Freeway Suite 1100 Dallas TX 75244 email soliciting false 0 11167 Stockade Group Inc 650 Franklin Street Schenectady NY 12305 Phone Soliciting false 3300 6800 -3500 CBS Interactive Inc 24670 Network Place Chicago IL 606731246 Auction hosting true 35197 6670 28527 38497 93278 25027 MC Golf fall 30686 12430 18256 1937 12476 6810 2184 MC Golf Spring 22220 14961 7259 2821 10383 807 2 67866 17510 50356 7096 6670 120772 44901 75871 4758 22859 14713 8854 51184 24687 FORM 990, Schedule G, Part I, Line 3 NONE- AS AN ACCREDITED, LICENSED INSTITUTION OF HIGHER EDUCATION, THE COLLEGE BELEIVES IT IS GENERALLY EXEMPT FROM THE REGISTRATION PROVISIONS THAT REQUIRE ORGANIZATIONS SOLICITING FUNDS FOR CHARITABLE PURPOSES TO REGISTER. true Lehigh University 524 Brodhead Avenue Bethlehem PA 18015 240795445 501(c)(3) 102333 ARRA Subrecipient 1 0 Institutional Scholarship Awards 1208 36679718 FMV credit student accts ACADEMIC PRIZES, AWARDS, FELLOWSHIPS, INTERSHIPS 146 128571 MONITORING OF GRANTS USED IN U.S. FORM 990, SCHEDULE I, PART I, LINE 2 Lafayette College maintains a policy defining its procedures for monitoring the use of sponsored funds by sub-recipients who are performing a portion of a sponsored project externally awarded to Lafayette. This policy provides guidance to ensure that sub-recipients conduct their portion of sponsored projects in compliance with the laws, regulations, terms and conditions of awards and sub awards, and that reimbursement costs incurred by sub-recipients are allowed. The College considers the awarding of financial aid (Primarily grants, scholarships, loans, and work-study) to its students, including non-resident alien students to be a U.S. based activity as students of the College are deemed to be living in the United States throughout their completion of the College's academic curriculum and supporting programs. The College awards scholarships and fellowships on the basis of merit and/or financial need. The section criteria is based on the calculated expected family contribution, which is derived by using complex formulas involving families' income, assets, and household sizes, including, among other factors, dependents in college. The College's financial aid office administers and monitors these awards to help ensure that these funds are awarded to eligible recipients in accordance with applicable Federal, State, and other requirements, as well as relevant internal College policies and operational guidelines. Academic prizes, awards, fellowship, and internships are awarded based on a review by the applicable academic department. All awarded scholarships and fellowships are credited to the student's account at the College and are applied to billed charges. X X X X X true true X X X X true true false false false false false false false Daniel H Weiss 485431 0 0 0 63523 0 23750 0 60457 0 633161 0 Wendy L Hill 263181 0 10000 0 4375 0 23750 0 35124 0 336430 0 James W Dicker 257031 0 10000 0 43768 0 23750 0 14200 0 348749 0 Celestino J Limas 130507 0 0 0 191399 0 13616 0 33597 0 369119 0 Robert J Massa 220654 0 0 0 3552 0 21014 0 6707 0 251927 0 Leslie F Muhlfelder 231242 0 2500 0 2446 0 22596 0 14000 0 272784 0 Mitchell L Wein 296331 0 15000 0 17873 0 23750 0 14460 0 367414 0 Paul H Zimmerman 146021 0 5000 0 83270 0 9315 0 6727 0 250333 0 John Kincaid 194396 0 0 0 2356 0 18677 0 6299 0 221728 0 James F Krivoski 174837 0 2500 0 2918 0 16924 0 6424 0 203603 0 Bruce A Murphy 195174 0 0 0 2773 0 18865 0 13191 0 230003 0 Francis B O'Hanlon 209235 0 0 0 4717 0 20140 0 78995 0 313087 0 FORM 990, SCHEDULE J, PART I First Class Travel - In general, it is the College's policy that first class travel is not authorized for employees traveling on College business. However, in rare circumstances exceptions may be considered for an extraordinary business justification and with prior approval. In one instance during the 2012 calendar year, the College President was approved for first class travel to accommodate the need for the President to be prepared to attend directly to business upon arrival from a cross country flight and the schedule did not allow time for adequate rest. Travel for Companions - In accordance with College policy, in instances with proper documentation for the business purpose fulfilled by the companion and any required prior approvals, the College will pay for travel expenses of a companion when the companion travel is 1] For a bona fide business purpose, and 2] Important to the achievement of the College's purposes that require the travel of the employee and companion. Tax Indemnification - During calendar year 2012, Daniel Weiss (President) received tax equalization payments of $8,664 and James Dicker (Vice President of Development and College Relations) received tax equalization payments of $14,509. These payments are in accordance with employment contracts and/or authorizations from the Board of Trustees and are specific to Daniel Weiss and James Dicker. Housing Allowance - As part of their employment contract and for the convenience of the College, a College-owned residence was provided to officers Daniel Weiss (President), Wendy Hill (Provost) and Celestino Limas (Vice President for Campus Life and Senior Diversity Officer) during calendar year 2012. This housing provided is located on College property and is provided in conjunction with these officers' duties. The estimated annual value of the housing provided is included as a nontaxable benefit in this return in the amount of $45,891 for Daniel Weiss, $20,904 for Wendy Hill, and $23,317 for Celestino Limas. It is the policy of the College's Board of Trustees that the president reside on College property. The president determines if the duties of other officers require them to reside on College property. Personal services- In accordance with the policy of the College's Board of Trustees and the President's employment contract, the President of the College is required to reside on College property. The President's house serves not only as a residence, but also as a host location for many College events and the college provides staff to maintain the home. For calendar year 2012, the salary and estimated fringe benefits for the housekeeper was $55,828, of which a portion of the time, or $8,373, was determined to be for personal services and included as reportable compensation in this return. FORM 990, SCHEDULE J, PART I, Line 3 The Compensation Committee reviews data obtained from its external compensation consultant on presidential salaries from comparable institutions and updates or adjusts that data through surveys and other available resources. In addition, an annual performance review is conducted. FORM 990, SCHEDULE J, PART I, Line 4A $177,517 of payments made in connection with separation of employment were paid to Celestino J. Limas, the former VP of Campus Life and Diversity, in calendar year 2012. Form 990, Schedule J, Part I, Line 4B The college provides a nonqualified, Section 457 retirement plan benefit for highly compensated employees. For the 2102 calendar year, the college contributions were $17,000 for Daniel Weiss (President), and $1,686 for Wendy Hill (Provost), $1,444 for James Dicker (Vice President of Development and College Relations), and $4,835 for Mitchell Wein (Vice President for Finance and Administration and Treasurer). These contributions are reported as other taxable income on this return. FORM 990, SCHEDULE J, PART II Specific taxable compensation and benefit agreements, in accordance with employment contracts and/or authorizations from the Board of Trustees, are reported in this tax return for Daniel Weiss (President) in the amount of $24,036, Mitchell Wein (Vice President for Finance and Administration and Treasurer) in the amount of $10,614, and James Dicker (Vice President of Development and College Relations) in the amount of $22,219. A Northampton Cty GPA Rev Bonds Ser 2010 233007498 66353lay3 2010-04-30 26689800 Refund Ser of 2000; Var cap Projec false false false B Northampton Cty GPA Ref & Rev Ser 2008 233007498 66353lak3 2008-08-21 98638389 Retire Ser '97, 04, 04 2nd & Cap N false false false C Northampton Cty GPA Var Rev Ser 2006 233007498 66353lag2 2006-09-14 15100000 Renov, Construct & Reloc Athletic false false false D Northampton Cty GPA Var Rev Ref S 2003 233007498 66353LAA5 2003-04-02 10190000 Refund Ser of 1993 on 7/1/2003 false false false A 0 0 26690421 0 0 0 0 0 0 4400421 22290000 0 2013 true false true true B 1000000 0 98650001 0 0 0 0 0 697 6314304 92335000 0 2011 true false true true C 1000000 0 15312344 0 108121 0 0 0 10709 15193514 0 0 2007 false false true true D 0 0 10190000 0 0 0 0 0 0 0 10190000 0 2003 false false true true A false false false false false 0.00000 0.00000 0.00000 false 0.00000 false true B false false true true false 0.01000 0.00000 0.01000 false false true C false false false false false 0.00000 0.00000 0.00000 false false true D false false false false false 0.00000 0.00000 0.00000 false false true A false true true false 0 false 0 false B false true false false 0 false 0 false C false true true false 0 false 0 false D false true true false 0 false 0 false A true B true C true D true Schedule K, Part I, Supplemental Information 0 Northampton Cty GPA (Series 2010 A and B) is one integrated structure as reported on IRS Form 8038. It is comprised of two sub-components, Series 2010A which had proceeds of $22,289,379 for the purpose of retiring the Series 2000 bonds was structured as variable rate debt and Series 2010B which had proceeds of $4,400,421 for various capital projects and improvements was structured as fixed rate debt. Schedule K, Part III, Line 3, Private Use 0 The College contracts with a for-profit dining service provider for the management of the dining operations on campus. The current contract is structured such that the preponderance of fees is based on a per capita charge, and the contract has a one-year term. A small portion of the proceeds of the Series 2008 bonds were used to renovate one of the two dining venues on campus, but given its nature and term, the College, with the advice of counsel, believes the contract with the for-profit dining service provider is a qualified management contract and not subject to private use. Schedule K, Part IV, Line 3, Use of Interest Rate Hedging Contracts 0 The College has three (3) interest rate hedging contracts in place that were entered into to mitigate the College's interest rate risk inherent with variable rate structured debt. Each of the hedging contracts requires the College to pay a fixed rate in return for a variable rate that is expected to approximate the interest rate payable on the College's debt in typical markets. None of the three (3) interest rate hedging contracts are structured as "qualified" hedges on the records of the issuing authority for any of the Colleges debt issuances, which is the Northampton County General Purpose Authority. As such, none of the interest rate hedges are integrated for tax purposes with a particular debt issuance of the College. The counterparty for each of the three (3) interest rate hedging contracts is UBS and they have scheduled terms of 2023, 2030, and 2034. Schedule K, Part IV, Line 2c 0 Column B bond - Date rebate computation was performed: 6/25/2012 Column C bond - Date rebate computation was performed: 4/1/2008 Column D bond - date rebate computation was performed: 4/3/2003 James W Dicker Officer 13275 Spouse Employed Part Time false X 83 2619263 HIGH/LOW OF DAILY MV X 1 183429 Bequest - Appraisal X 449 76795 Minerals-Appraisal X EVENTS & SILENT AUCTIONS 11 16115 PAID RECEIPT X EQUIPMENT 3 29497 APPRAISAL/FMV X MISCELLANEOUS GOODS 2 2734 PAID RECEIPT X OTHER 3 12108 PAID RECEIPT 5 false true true Schedule M, Line 32a To the extent that the College receives donations of securities, its investment broker/manager is tasked with selling those securities. Form 990, Part VII, Section A, Column (B) Average hours per week Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors The hours reported are uniformly applied based on the position and it is recognized that the actual hours may be greater than noted for each individual. Form 990, Part VI, Section A, Line 2 Governance, Management, and Disclosure - Governing Body and Management Trustees Fisher and Kamine had a business relationship in FY 2012-2013. Trustee Cox and Officer Muhlfelder had a business relationship in FY 2012-2013. Form 990, Part VI, Section B, Line 11A Governance, Management, and Disclosure - Policies Process for the review of Form 990 The Form 990 return is prepared by the Colleges administration and forwarded to the Colleges outside tax advisor for review and input into electronic media. The College will discuss the return with its outside tax advisor and make revisions prior to the printing of a first draft return for review and comment by the Audit Committee. The Audit Committee reviews this draft return, recommends changes and such changes are then incorporated into a revised draft return. This revised draft return is reviewed again by the Audit Committee to ensure the Committees requested changes were appropriately made. The administration will then distribute the revised draft return to the full Board of Trustees with a request for review and comment. If any questions or comments are received from a Board Member and the return is revised as a result, the Administration will advise the full Board of the change before filing of the final return. Form 990, Part VI, Section B, Line 12 C Governance, Management, and Disclosure - Policies Monitoring and compliance with conflict of interest policy The Conflict of Interest Policy for Trustees, Board Members, Officers of the Administration, and other Key Employees of Lafayette College was approved by the College's Board of Trustees on October 27, 1979. This policy is mailed to all applicable individuals annually for their review and disclosure of both any exceptions to the Policy and any affiliations that the Policy requires disclosure for. All disclosure required under this Policy must be directed in writing to the Secretary of the Board of Trustees who shall be responsible for the administration of this Policy. Matters under this Policy concerning Trustees shall be initially reported to the Chairperson of the Board for appropriate action. Matters concerning staff will be referred initially to the President. Information disclosed to the Secretary (or Chairperson or President) will be held in confidence except when the best interest of the institution is served by disclosing the information to the Board in Executive Session. Form 990, Part VI, Section B, Line 14 Governance, Management, and Disclosure - Policies Records Retention Policy The Controller's Office maintains a written policy for the retention of financial documents including general ledger reports, financial statements, fixed asset repots, accounts payable, accounts receivable, banking, payroll, and tax filings. Other campus offices may also have specific policies for the retention of their documents that would be consistent with guidelines established for outside regulatory agencies and the office's needs. There is no formal overall campus-wide Records Retention Policy. Form 990, Part VI, Section B, Lines 15 A & B Governance, Management, and Disclosure - Policies The process for determining the compensation of the President and officers of the Administration: The compensation of the President is established by the Compensation Committee which reviews data obtained from its external compensation consultant on presidential salaries from comparable institutions and updates or adjusts that data through surveys and other available resources. In addition, an annual performance review is conducted. The compensation for officers of the College's administration (Vice-Presidents), are recommended by the President based on a written annual performance summary. The compensation for each officer is then established by the Compensation Committee which reviews data obtained from its external compensation consultant on salaries of comparable officers from comparable institutions and adjusts that data through surveys and other available resources. Form 990, Part VI, Section C, Line 19 Governance, Management, and Disclosure - Policies Availability of Documents to the Public The College's audited financial statements are made available on the College's public website. The College does not make its governing documents and Conflict of Interest Policy available to the public on its website. Requests for copies of Forms 990 and 990T are provided promptly upon request in either hard-copy or electronic forms, and the College does not charge for either copying or mailing costs. After the filing of the Form 990 return for the same tax year, the College will provide a copy to Guidestar for publication on their website. The College's financial statements (and limited operating statistics) are also available on two additional websites: 1. The Municipal Securities Rulemaking Board's Electronic Municipal Market Access (EMMA) website where the College is required to file with EMMA per our 15C2-12 requirements associated with some of its tax-exempt debt. 2.Digital Assurance Certification (DAC)'s website. The College utilizes DAC as a method of getting its documents to EMMA, but DAC also posts these documents to their own website where it is publically accessible free of charge. Users are asked to register on this site. Form 990, Part XI, Line 5 Change in Net Assets CHANGE IN ANNUITIES PAYABLE ESTIMATE 873,985 DISTRIB FROM PRINCIPAL TO FUND ANNUTITIES PAYABLE (1,645,264) CHANGE IN MV OF INTEREST RATE SWAP AGREEMENTS 5,794,693 PROVISION FOR UNCOLLECTIBLE NON OP PLEDGES REC (247,891) CHANGE IN POSTRETIREMENT BENEFIT COST 2,461,000 VOLUNTARY RETIREMENT INCENTIVE - FAC & NON FAC (1,746,900) ------------ TOTAL $ 5,489,623 =============