2014-02-07T14:24:04-07:00 2013-06-30 990 2012-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 Grapevine Road Wenham MA 01984 Michael Ahearn 9788674038 2014-02-07 2012 2015-11-30 17:44:51Z D Michael Lindsay Gordon College 255 Grapevine Road Wenham MA 01984 78803619 0 X www.gordon.edu X 1889 MA Gordon College strives to graduate men and women distinguished by intellectual maturity and Christian character, committed to a lifestyle of servanthood and prepared for leadership roles in their homes, workplaces, churches and communities worldwide. Our primary activity is to provide an undergraduate liberal arts education. 30 26 940 30 0 0 11043241 5511270 62155073 67053886 716045 1133874 -2246 5455 73912113 73704485 17264607 19048373 0 0 32496826 33282431 0 0 2769662 21754588 24285773 71516021 76616577 2396092 -2912092 115801843 116329594 53624266 52261396 62177577 64068198 Gordon College strives to graduate men and women distinguished by intellectual maturity and Christian character committed to a lifestyle of servanthood and prepared for leadership roles in their homes, workplaces, churches and communities worldwide. Our primary activity is to provide an undergraduate liberal arts education. 0 0 49912019 19025498 50784971 Higher Education: Our largest program service is providing education and instruction to individuals giving them an opportunity to earn a degree. Gordon College is the only nondenominational Christian liberal arts college in New England. It offers 38 majors and confers 3 separate undergraduate degrees; Bachelor of Arts, Bachelor of Science and Bachelor of Music. Undergraduate enrollment of approximately 1707 students is drawn from 42 states and 41 countries. In 2012-13, Gordon College issued 325 undergraduate degrees (with a six-year graduation rate of 71.1%). Gordon had a faculty to student ratio of 14 to 1 with 65% of the students from outside Massachusetts. Of the 93 full-time faculty, 82.7% have earned doctorates. Gordon College students can take advantage of a wide variety of off-campus programs, both domestic and abroad. During 2012-13, 146 students participated in off-campus programs and short-term international seminars. 15540746 0 14814956 Auxiliary programs related to the educational process for dormitory housing, food service, bookstore, Lavida outdoor experience, balance and mobility center, summer athletic camps and other summer programs. There were 1367 resident students in the fall semester 2012 and 1315 in the spring semester 2013. 977793 22875 1453959 Higher Education: Gordon College has graduate programs in education and music education conferring degrees in Masters of Education in Curriculum and Instruction and Masters of Music Education. In 2012-13, the total of unduplicated graduate students was 599 drawn from 19 states and 3 countries. Gordon College conferred 58 masters degrees in 2012. 0 0 0 66430558 1 1 0 1 0 1 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 1 1 0 0 0 1 247 0 1 940 1 0 1 IT 0 0 0 1 1 0 0 0 0 X 30 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X Kimberlie Mather Controller 9788674048 Gordon College Wenham MA 01984 Judith M Dean 1 0 X 0 0 0 Harold L Myra 1 0 X 0 0 0 David C Schultz 5 0 X 0 0 0 Herman J Smith Jr 5 0 X 0 0 0 Suannah Young 1 0 X 0 0 0 John M Gurley 1 0 X 0 0 0 Kurt Keilhacker 5 0 X 0 0 0 Thomas L Phillips 2 0 X 0 0 0 Peter Herschend 1 0 X 0 0 0 Raymond Lee 1 0 X 0 0 0 Roberto Miranda 1 0 X 0 0 0 Bradford H Warner 2 0 X 0 0 0 Mary Shahian 1.5 0 X 0 0 0 Daniel Cho 2 0 X 0 0 0 Lisa Forkner 1 0 X 0 0 0 Joseph Krivickas 2 0 X 0 0 0 Samuel Schreiner III 1 0 X 0 0 0 Aaron Shin 1 0 X 0 0 0 Carrie Tibbles MD 1 0 X 0 0 0 Kirk Ware 1 0 X 0 0 0 David Beatty 1 0 X 0 0 0 Laura Fastie-Grapshi 1 0 X 0 0 0 Gordon Hall 1 0 X 0 0 0 Cherie Harder 1 0 X 0 0 0 Bronwyn E Loring 5 0 X 0 0 0 David Cameron 1 0 X 0 0 0 Dr Marla Frederick 1 0 X 0 0 0 Santiago Sedaca 1 0 X 0 0 0 Myron Ullman 1 0 X 0 0 0 Timothy Breene 1 0 X 0 0 0 D Michael Lindsay 60 0 X 285868 0 70894 Michael Ahearn 60 0 X 145926 0 10217 Daniel Tymann 60 0 X 140960 0 25792 Mark Sargent 60 0 X 51857 0 7981 Janel Curry 60 0 X 62152 0 9752 Stanley Gaede 60 0 X 110694 0 21359 Barry Loy 60 0 X 129625 0 23588 L Daniel Russ 60 0 X 122448 0 13371 C Thomas Brooks 60 0 X 104622 0 5786 Richard Sweeney 60 0 X 111523 0 22491 R Judson Carlberg 40 0 X 138126 0 17784 1403801 0 229015 11 1 1 0 Wellington Trust Company NA 75 State Street Boston MA 02109 Investment Management 144944 Grant Thornton LLP 33960 Treasury Center Chicago IL 606943900 Auditing services 158754 Nagog Real Estate Consulting Corp 530 Great Road Acton MA 01720 Building Renovation 231800 3 0 0 495309 0 407893 4608068 265161 5511270 Tuition and Fees 611310 51566934 51566934 0 0 Residence Hall Revenue 611310 8702828 8702828 0 0 Board Plan 611310 3203432 3203432 0 0 Summer Programs 611310 804460 804460 0 0 Balance and Mobility Center 621340 519532 519532 0 0 2256700 2256700 0 0 67053886 674330 0 0 674330 0 0 0 0 0 0 0 0 85790 0 0 0 85790 0 85790 0 0 85790 5454055 0 4994511 0 459544 0 459544 0 0 459544 24288 495309 104623 -80335 0 -80335 0 73704485 67053886 0 1139329 0 0 17448862 17448862 1599511 1599511 0 0 818559 0 809608 8951 137922 124652 1270 12000 23365545 17773203 4198456 1393886 941981 715448 165447 61086 6363216 4634881 1331130 397205 1655208 1213910 337642 103656 0 0 0 0 44872 0 44872 0 167707 0 167707 0 0 0 0 0 0 0 165239 0 165239 0 2692301 1823645 787197 81459 244083 122951 2082 119050 2433353 1641685 595389 196279 1366604 807319 558707 578 0 0 0 0 4251150 4115190 110237 25723 2786358 2330080 268035 188243 0 0 0 0 37618 30728 6890 0 0 0 0 0 0 0 0 0 6265766 5882694 346301 36771 212272 88534 121421 2317 Allocation of Physical Plant 0 3710323 -3717656 7333 Food Service 1596356 1596356 0 0 Bond Expenses 755994 0 755994 Special Events 354339 220655 23474 110210 911761 549931 336915 24915 76616577 66430558 7416357 2769662 893209 639404 3944447 689228 7995007 6481309 1296813 1161751 0 0 0 0 0 0 77148 76051 645335 795003 155000620 87879116 68976704 67121504 8264394 9214362 19833592 26301153 2832317 2891881 0 0 1042877 957948 115801843 116329594 1343422 1107377 0 0 1838316 1552790 38128578 38660000 391749 255705 0 0 409404 1588282 0 0 11512797 9097242 53624266 52261396 X 27168098 27138384 11630050 12992893 23379429 23936921 62177577 64068198 115801843 116329594 X -2912092 2597835 0 0 0 2204878 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 73846915 73846915 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 81078 537 1237 0 82852 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 1 0 0 0 0 0 58079 1 1 0 0 X X 0 0 1 X 35861856 289673 3213517 998888 427229 0 37938929 32872995 5090612 -694943 792960 613848 0 35861856 29062217 1075726 4071953 751459 585442 0 32872995 26526253 913915 3072574 903807 546718 0 29062217 34168996 298841 -6886186 740711 314687 0 26526253 0.14674 0.79747 0.05579 0 0 5052 1194072 1199124 0 117932607 56914366 61018241 0 0 0 0 0 24852313 21592732 3259581 0 11016576 9372018 1644558 67121504 0 26301153 F 26301153 0 Conditional Asset Retirement Obligation 373082 Fair Value of Interest Rate Swap Agreement 4642899 Perkins Loan Advances 2616064 Annuity Payment Obligations 1465197 9097242 X 57410223 2597835 0 0 295441 2893276 54516947 165239 19022299 19187538 73704485 55519603 0 0 0 488659 488659 55030944 165239 21420394 21585633 76616577 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The collections, which were acquired through purchases and contributions since the College's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired, or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. SchD_P03_S00_L04 Schedule D, Part III, Line 4 Occasionally the College receives gifts of art or collectibles which are put on display in various buildings throughout the campus. We also maintain library archives of College historical documents and book collections kept for posterity. SchD_P04_S00_L02b Schedule D, Part IV, Line 2b The College maintains custodial or "pass through" accounts for Federal student loans, Pell grant and state grants. Funds are held in these accounts until distributed to individual students. The College also maintains custodial accounts for student government and student ministry groups and activities. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The intended use of endowment funds is driven by donor restrictions on our endowments. Approximately 70% of appropriated revenues this year were in scholarship awards. 17% of revenues supported general activities and physical plant. The remaining 13% was allocated to instructional activities and academic support programs. Distributions of income are made using a total return method. We use a spending rate of 5% of the 3 year rolling average of the fair market value of the investments. SchD_P10_S00_L02 Schedule D, Part X, Line 2 FIN 48 Footnote: The College is recognized as an organization exempt from income tax under Section 501(c)(3) of the Internal Revenue Code. However, certain activities of exempt organizations, to the extent profitable, may be subject to federal and state taxation as unrelated business income. Accordingly, no provision for income taxes has been made in these financial statements. The College recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The College has applied this more-likely-than-not threshold to all tax positions for which the statute of limitations remained open and determined there were no material unrecognized tax benefits as of that date. In addition there have been no material changes in unrecognized benefits since adoption. It is the College's policy to record estimated interest and penalties (if any) as part of management and general expense. Management believes that the College's income tax returns for fiscal years 2009 and prior are no longer subject to examination by taxing authorities. SchD_P11_S00_L02d Schedule D, Part XI, Line 2d This figure includes the FWS apportionment budget allocation of 188,033 included in income on the financial statements, special events expenses of 104,623 included in expense on the financial statements and homecoming on-line payments of $2,785. SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Included here are: scholarships and grants of 18,614,405 treated as tuition discount on the financial statements; FSEOG and FWS of 407,893 treated as pass through activity on the financial statements and not reflected in income and a rounding issue of $1. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d This figure includes: FWS apportionment budget allocation of 188,033 included in income on the financial statements; special events expenses of 104,623 included in expense on the financial statements; change in fair value of split interest agreements of 193,218; homecoming on-line payments of $2,785. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Included here are: scholarships and grants of 18,614,405 treated as tuition discount on the financial statements; FSEOG and FWS of 407,893 treated as pass through activity on the financial statements and not reflected in expense; change in fair value of interest rate swap agreements of $2,398,096. 1 1 0 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 We draw a substantial percentage of our students from New England and the northeastern States but also draw students nationally and worldwide. We follow a racially nondiscriminatory policy as to our students. Because of this, we believe that the publicity requirement is satisfied by complying with section 4.02. Because we are an interdenominational Christian college, our market appeal is to a smaller segment of the general population. Given the technology available today, we have invested in our web site as the way to reach the most students. Our promotional activities and recruiting efforts in each geographic area are designed to inform students of all racial segments interested in a Christian college of the availability of Gordon College. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Gordon College receives Title IV funds for aid to students from the Department of Education for Federal Work Study, FSEOG, Federal Pell grant and other Federal student aid grant programs. 1 Europe (including Iceland and Greenland) 1 10 Program Services We offer semester based programs in Italy and France. Expenditures are reported using accrual based accounting. Employee compensation is processed through our campus payroll system. Other program costs are managed by the Program Director (Italy) and the coordinator (France). Funds are wired periodically at the request of program leaders and approved by the Global Education administrator. The program leaders pay local expenses. Expense documentation is submitted to Controller's Office for review. Costs recorded at the time of the wires are for tuition, room, board and incidentals of students. International Seminar courses are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. Expenses must be documented and submitted to the Controller's Office. The Global Ed Office also approves students to attend non-Gordon programs at other organizations or foreign colleges/universities. Funds are sent directly. 1281596 Europe (including Iceland and Greenland) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 57015 Europe (including Iceland and Greenland) 0 0 Fundraising 112701 Central America and the Caribbean 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 34996 Central America and the Caribbean 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 90557 South Asia 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 31711 South Asia 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 38175 Middle East and North Africa 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 21762 Sub-Saharan Africa 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 54119 Sub-Saharan Africa 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 36382 East Asia and the Pacific 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 220482 East Asia and the Pacific 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 27955 East Asia and the Pacific 0 0 Program Services The President traveled to China and Korea for admissions recruitment efforts and instructional program development. 39988 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 18438 South America 0 0 Program Services The Global Education Office approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 132465 South America 0 0 Program Services The President traveled to Brazil for admissions recruitment efforts and instructional program development. 14332 Europe (including Iceland and Greenland) 0 0 Grantmaking 85830 Central America and the Caribbean 0 0 Grantmaking 167640 South Asia 0 0 Grantmaking 137000 Sub-Saharan Africa 0 0 Grantmaking 153500 East Asia and the Pacific 0 0 Grantmaking 911885 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 92706 South America 0 0 Grantmaking 37450 Russia and the newly independent States 0 0 Grantmaking 13500 1 10 3812185 Scholarships and Grants Europe (including Iceland and Greenland) 6 85830 credit to student bill 0 Scholarships and Grants Central America and the Caribbean 8 167640 credit to student bill 0 Scholarships and Grants South Asia 6 137000 credit to student bill 0 Scholarships and Grants Sub-Saharan Africa 7 153500 credit to student bill 0 Scholarships and Grants East Asia and the Pacific 40 911885 credit to student bill Scholarships and Grants North America (including Canada and Mexico, but not the United States) 5 92706 credit to student bill 0 Scholarships and Grants South America 3 37450 credit to student bill 0 Scholarships and Grants Russia and the newly independent States 1 13500 credit to student bill 0 0 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Grants and scholarships to international students are treated as tuition discounts and are applied as accounting credits on each student's bill. They are not paid directly to the student. Merit scholarships are awarded based on academic criteria and are renewed annually based on satisfactory GPA requirements that are verified by the Registrar's Office. Donated scholarship funds are awarded based on criteria provided by donors. Specific eligibility is verified annually by the Registrar's Office, Admissions and the Financial Aid Office. Need based grants are awarded based on the student's determined financial need. The College uses information provided by the CSS Profile of the College Board. The grant amount is carried forward from year to year unless there is a significant change in determined financial need. Celebration of Faithful Leadership 456097 442092 14005 0 0 0 22167 825 25151 Business Leader Breakfast #1 34500 29057 5443 0 0 14130 9720 400 7818 3 29000 24160 4840 0 0 6500 8224 400 9288 519597 495309 24288 0 0 20630 40111 1625 42257 104623 -80335 1 Scholarships and Grants to Gordon College Students 1437 17038369 0 Federal SEOG Grants 254 162460 0 Federal Work Study 801 206033 0 Federal Teach Grants 16 39400 0 Dr Marvin Wilson Award for Teaching 1 1000 0 Howie Rich Award 1 1000 0 Center for Faith and Inquiry Award 1 600 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Gordon College awards three types of grants/scholarships: merit scholarships, need-based grants and endowment funded restricted scholarships. Merit scholarships are awarded based on the incoming student's academic criteria determined by the Admissions Office. These scholarships are renewed annually by verification of the Registrar's Office that cumulative GPA requirements are met. Need-based grants are awarded based on the student's determined financial need. We determine financial need using information provided by the FAFSA. We practice level-funding of the need-based grants to future years unless there is a significant change in determined financial need. Endowment funded restricted scholarships are awarded based on criteria established by donors. The criteria information on specific eligible students is provided by the Registrar, Admissions and Financial Aid Offices. Students are evaluated annually to verify they continue to meet the donor criteria for an endowment award. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 D Michael Lindsay 271363 0 0 0 14505 0 13040 0 57854 0 356762 0 0 0 Daniel Tymann 129219 0 0 0 11741 0 7384 0 18408 0 166752 0 0 Michael Ahearn 115087 0 0 0 30839 0 7398 0 2819 0 156143 0 0 0 R Judson Carlberg 126256 0 0 0 11870 0 7152 0 10632 0 155910 0 0 0 Barry Loy 108663 0 0 0 20962 0 6752 0 16836 0 153213 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Travel for companions: Occasionally spouses of officers accompany them on business trips for the College. In order to be treated as a working condition fringe benefit, the College requires substantiation of the trip as a bonafide business expense for both the officer and the spouse. If there is no business purpose for the spouse, the spousal travel is treated as taxable income to the officer or the officer reimburses the College. Housing allowance or residence for personal use: One listed person received this benefit. The President is required to live in on-campus housing for hosting purposes and 24/7 availability to the campus community. Because of this requirement, it is excluded from wages under Section 119 of the IRS code. The housing value included in non-taxable compensation was $36,836. Health or social club dues or initiation fees: One listed person received this benefit. The President is required by the Board to have a Harvard Club membership provided by the College. It was used for business purposes only and none of it was treated as taxable compensation. A Massachusetts Development Financy Agency 043431814 2013-02-19 38480000 Refund prior issue (issued 10/31/2012) 0 0 0 A 0 0 38480000 0 0 0 0 0 0 0 38480000 0 2012 1 0 1 1 A 0 0 1 1 0 0.00759 0 0.00759 0 0 1 A 0 0 1 0 1 1 RBS Citizens Bank NA 10 0 0 0 0 1 A 1 NA - not required for colleges NA - not required for colleges 40500 Scholarships Merit scholarships for academic achievement Jonathan Tymann brother of Executive Vice President 119378 Employment compensation 0 Rebecca Lindsay spouse of President 12000 Employment compensation 0 Nagog Real Estate Consulting Corp Company more than 35% controlled by trustee, Kirk Ware 240648 Independent Contractor on renovation project 0 SchL_P04_S00_L00 Schedule L, Part IV Two relatives of officers are also employed by Gordon College. Kirk Ware, one of our trustees, is an officer of Nagog Real Estate Consulting Corp and has more than 35% control. Nagog was hired by the College to renovate a campus building. X 1 0 N/A X 0 cost of donated property X 0 cost of donated property X 33 265161 Fair market value on the date of receipt 1 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b Stock gifts are received and sold by Wells Fargo Advisors, LLC, 138 Conant Street, Beverly, MA 01915. SchM_P01_S00_L33 Schedule M, Part I, Line 33 Institutional policy for works of art is not to record a gift value. We do not capitalize our collections as allowed under SFAS 116 (ASC 958-360-25). Lines 4 and 5: Revenues were not reported because the gifts were not given a value as appraisals were unavailable. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 One of our trustees, David Beatty, is the CEO of Daintree Advisors. Another trustee, Mary Shahian is the Managing Director of Daintree Advisors. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The controller prepares the 990 and submits it for review to the vice president for finance and the president. Once the 990 is approved by the president and vice president, it is provided to the board before filing. The Form 990 has also been reviewed by tax advisors from a national accounting firm. It is then signed by the vice president for finance and filed electronically. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c An annual Disclosure Form delineating conflicts is distributed to all trustees at the annual board meeting and must be signed by each trustee. A copy is mailed to any trustee who is absent and must be signed and returned. Trustees must recuse themselves from any discussion of or vote on any issue involving conflicts of interest. Key employees and officers must also sign an annual conflict of interest form which clearly delineates conflicts of interest. College counsel monitors and reviews the conflict of interest statements. The president's office collects and maintains them. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The executive committee of the board serves as the compensation committee for the president's position. CCC and CCCU compensation studies of college presidents are reviewed by the committee and the salary is set by committee vote. The president has an annual review by the committee and is judged based on attainment of goals for the year. The president submits compensation comparability data to the committee for the provost, vice president for finance and executive vice president positions. Compensation increases are based upon job performance and the independent studies. Minutes are kept of the process and the committee vote. The last review process took place in 2012. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Our governing documents are available upon request. Our conflict of interest policy is available on our public web site. Our financial statements are available upon request and copies are maintained in the College library. F990_P11_S00_L09 Form 990, Part XI, Line 9 Other changes in net assets include: Change in fair value of split interest agreements (193,218); Interest rate swap fair value adjustment 2,398,096. Gordon College Foundation 255 Grapevine Road Wenham MA 01984 222610484 Advise on land use MA 501(c)(3) 9 Gordon College 1 Charitable Remainder Trusts (3) NA NA NA MA 01984 Charitable gift MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0