2013-05-09T08:59:56-05:00 2012-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2011-07-01 041286950 EMERSON COLLEGE % JOHN DONOHOE EMER 6178248500 120 BOYLSTON STREET BOSTON MA 021164624 MAUREEN MURPHY 2013-05-07 6179881000 2011 2016-02-25 16:41:14Z MAUREEN MURPHY 120 Boylston Street BOSTON MA 021164624 180647574 false X WWW.EMERSON.EDU X 1880 MA EMERSON COLLEGE IS A FOUR-YEAR COLLEGE OFFERING DEGREES PRIMARILY IN THE FIELDS OF PERFORMING ARTS AND COMMUNICATIONS. 23 20 3045 1172 3679329 -1573227 7110738 4789333 154557007 164627902 2553144 2230533 5957261 5654833 170178150 177302601 28469573 30913929 0 0 62214800 65970462 0 0 1939990 72500691 70857098 163185064 167741489 6993086 9561112 588032944 647040422 239117002 291340223 348915942 355700199 EMERSON COLLEGE IS A FOUR-YEAR COLLEGE OFFERING DEGREES PRIMARILY IN THE FIELDS OF PERFORMING ARTS AND COMMUNICATIONS. false false 100500666 30913929 134019674 EMERSON COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE PROGRAMS CHALLENGING THE STUDENTS TO THINK AND COMMUNICATE WITH CLARITY, SUBSTANCE AND INSIGHT. THE CURRICULUM INTEGRATES COMMUNICATION WITH LIBERAL ARTS AND EMPHASIZES A GLOBAL OUTLOOK AND PRACTICAL EXPERIENCE TO HELP DEVELOP THE INHERENT CAPACITIES OF EACH STUDENT. 38487532 32497551 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR THE STUDENTS AND TO ENSURE IT IS APPROPRIATELY SUPPORTED. THE SERVICES INCLUDE ROOM, BOARD AND THE BOOKSTORE. 138988198 true true false false false false false false false true true false false false true true true false true true true false true false true false false false true true true false false false false false false true false false false true false false false false true true false false false true 308 0 true 3045 true true true true NL false false false true true false false false false X 23 20 false false false false false false false true true false false true true true true true false true true false CA MA X X JOHN DONOHOE 6178248515 120 BOYLSTON STREET BOSTON MA 021164624 X E ALEXANDER 2.0 X 0 0 0 K BRIGHT 20.0 X 83527 0 7500 B BROWN 2.0 X 0 0 0 V DI BONA 2.0 X 0 0 0 R FRIEND 2.0 X 0 0 0 L GERSH 2.0 X 0 0 0 T GOLDMAN 2.0 X 0 0 0 J GREENHAWT 2.0 X 0 0 0 G GROSSMAN 2.0 X 0 0 32128 D HERZOG 2.0 X 0 0 0 D HOLLOWAY 2.0 X 0 0 0 J HURET 2.0 X 0 0 0 A JAFFE 2.0 X 0 0 0 R JANSSEN 2.0 X 0 0 0 C MONTAN 2.0 X 0 0 0 M MUTCHNICK 2.0 X 0 0 0 L RASKY 2.0 X 0 0 0 S SAMUELS 2.0 X 0 0 0 L SCHWARTZ 2.0 X 0 0 0 M ZACHARIS 2.0 X 0 0 0 R COURTEMANCHE 2.0 X 0 0 0 R WALKER II 2.0 X 0 0 0 L PELTON 40.0 X X 366106 0 55414 L MOORE 40.0 X 239450 0 27931 W GILLIGAN 40.0 X 226368 0 42818 C HUGHES 40.0 X 187181 0 26919 MJ KNOLL FINN 40.0 X 189713 0 35206 A TIEDEMANN 40.0 X 182149 0 69932 M MURPHY 40.0 X 312249 0 2935 J SCHOENHERR 40.0 X 0 0 0 J DONOHOE 40.0 X 175246 0 40144 J ANDERSEN 40.0 X 172349 0 15839 R ORCHARD 40.0 X 233871 0 21031 J WACKS 40.0 X 172106 0 15503 D ROSEN 40.0 X 175207 0 29975 J LIEBERGOTT 0.0 X 567256 0 67642 D ELLIS 0.0 X 192065 0 0 R ASHTON 0.0 X 122846 0 19105 3597689 0 510022 74 true true false MORPHOSIS 2041 COLORADO AVENUE SANTA MONICA CA 90404 ARCHITECTURE 274575 GOODWIN PROCTOR LLP EXCHANGE PLACE BOSTON MA 02109 LEGAL 216659 ARMBRUSTER GOLDSMITH DELVAC LLP PO BOX 2815 CAMARILLO CA 930112815 LEGAL 220371 SILVERMAN ASSOCAITES 106 FARLOW ROAD NEWTON MA 02458 CONSULTING 459038 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 AUDIT 180850 10 97463 1606279 3085591 86275 4789333 TUITION & FEES 611710 133285458 133285458 ROOM & BOARD 611710 28464180 28464180 THEATER REVENUE 531390 2878264 2878264 164627902 1255097 -142 1255239 1924 1924 2350000 2350000 1983166 1280414 702752 702752 702752 2877318 1903806 973512 973512 973512 72304 97463 160753 -88449 -88449 0 0 BOOKSTORE COMMISSION 611710 147980 147980 SUMMER CONFERENCE 531390 801207 801207 MISCELLANEOUS 611710 1741343 1741343 2690530 177302601 163638961 3679329 5194978 0 29927279 29927279 986650 986650 0 2335770 1882631 453139 0 50289655 39704240 9556604 1028811 3163598 2549860 613738 6329989 4896316 1178518 255155 3851450 3104269 747181 0 322611 322611 198829 198829 0 0 278950 278950 4051037 3190417 767917 92703 1193724 962142 231582 2981610 2367727 569899 43984 1253957 996501 239852 17604 0 7084318 5635337 1356396 92585 2409695 1882801 453180 73714 0 0 10382512 8327014 2004269 51229 0 18353365 14719897 3543002 90466 2073844 1671518 402326 OTHER FOOD SERVICE 5374172 4331583 1042589 OTHER OUTSIDE SERVICES 6437949 5037702 1212549 187698 RENOVATIONS/CONTRACTS MAINT. 4070865 3281117 789748 ALL OTHER EXPENSES 4389660 3533197 850422 6041 167741489 138988198 26813301 1939990 0 0 16887505 32870960 2599586 2507709 1123154 2108118 0 0 0 0 2489460 2485587 0 0 297454 1284518 578134409 143983914 432547698 434150495 98548431 138420414 31490209 30662076 0 0 0 0 2049447 2550545 588032944 647040422 16207859 20074527 0 0 11613192 10778042 207341767 256533605 0 0 0 0 0 0 0 0 3954184 3954049 239117002 291340223 X 322562302 329756664 6667365 6233543 19686275 19709992 348915942 355700199 588032944 647040422 X 9561112 -2776855 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 118988122 1522529 -853654 2592092 117064905 105776357 1854285 13527183 2169703 118988122 48847969 54196824 4501104 1769540 105776357 60883032 3568050 -13415095 1715628 49320359 0.80620 0.15790 0.03590 false false 0 64709055 64709055 0 431334582 99922729 331411853 0 54721385 44061185 10660200 0 27369387 0 27369387 434150495 0 REFUNDABLE ADVANCES GOVT GRANT 1204791 CAPITAL LEASE OBLIGATION 2749258 3954049 177302601 167741489 9561112 -3055805 278950 -2776855 6784257 175687963 -3055805 1441167 -1614638 177302601 177302601 168903706 1441167 1441167 167462539 278950 278950 167741489 OTHER REVENUE INCLUDED ON RETURN NOT IN FINANCIAL STATEMENTS Schedule D Part XII Line 2d RENTAL EXPENSES $1,280,414 FUNDRAISING EXPENSES $160,753 TOTAL $1,441,167 OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT ON RETURN Schedule D Part XIII Line 2d RENTAL EXPENSES $1,280,414 FUNDRAISING EXPENSES $160,753 TOTAL $1,441,167 ENDOWMENT FUNDS Schedule D PART V Line 4 THE PURPOSE OF THE COLLEGE'S ENDOWMENT FUND IS TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A RELIABLE SOURCE OF FUNDS FOR CURRENT AND FUTURE USE THROUGH QUARTERLY DRAWDOWNS. THE ENDOWMENT IS USED TO FUND SCHOLARSHIPS AND GRANTS AS WELL AS MAINTAINING COLLEGE FACILITIES AND PROGRAM SERVICES. UNCERTAIN TAX POSITIONS Schedule D Part X Line 2 THE COLLEGE GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, THE COLLEGE MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE "MORE LIKELY-THAN-NOT" THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS PRINTED IN THE COLLEGE'S ADMISSION CATALOG AND THE COLLEGE'S WEBSITE. FINANCIAL AID OR ASSISTANCE LINE 6A THE COLLEGE PARTICIPATES IN A NUMBER OF FEDERAL FINANCIAL PROGRAMS FOR ITS STUDENTS WHO HAVE FILED A FAFSA AND ARE ELIGIBLE FOR FEDERAL FINANCIAL AID. true Europe (Including Iceland and Greenland) 1 26 Program Services SEMESTER ABROAD CLASS 2087228 Central America and the Caribbean Investments 20659730 1 26 1 26 22746958 22746958 EMERSON COLLEGE FUNDED SCHOLARSHIPS Europe/Iceland/Greenland 121 972376 FEDERAL SCHOLARSHIPS Europe/Iceland/Greenland 21 7650 STATE SCHOLARSHIPS Europe/Iceland/Greenland 12 6624 true false false false false true MONITOR THE USE OF GRANT FUNDS OUTSIDE THE U.S. PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. FEDERAL TYPES OF ASSISTANCE ARE ALSO AWARDED ON DEMONSTRATED FINANCIAL NEED. LIMITATIONS ON FUNDING LEVELS REQUIRE THE COLLEGE TO ADHERE STRICTLY TO APPLICATION DEADLINES. AWARDS INCLUDE SCHOLARSHIPS, ASSISTANTSHIPS AND SIMILAR PAYMENTS AND DISTRIBUTIONS. FEDERAL AND INSTITUTIONAL FORMULAS ARE UTILIZED IN CALCULATING A FAMILY CONTRIBUTION BASE ON INFORMATION PROVIDED ON THE PROFILES AND/OR FAFSA APPLICATIONS ALONG WITH SUPPORTING DOCUMENTATION (E.G. FEDERAL TAX RETURNS). THE EXPECTED FAMILY CONTRIBUTION IS BASED ON A REVIEW OF THE FAMILY'S RESOURCES FROM EXPECTED TAXED AND UNTAXED INCOME ALONG WITH ASSETS SUCH AS SAVINGS AND HOME EQUITY. THE FAMILY CONTRIBUTION IS DEDUCTED FROM THE STUDENT'S COST OF ATTENDANCE RESULTING IN THE FAMILY'S NEED. THE AMOUNT OF NEED A FAMILY DEMONSTRATES DETERMINES THE AMOUNT OF ASSISTANCE THEY MAY BE ELIGIBLE TO RECEIVE. STUDENTS WHO APPLY FOR FINANCIAL ASSISTANCE MUST BE MATRICULATED, DEGREE-SEEKING CANDIDATES ENROLLED AT LEAST PART-TIME (4 CREDITS). FEDERAL REGULATIONS SPECIFY THAT FEDERAL FINANCIAL AID RECIPIENTS MUST BE U.S. CITIZENS, U.S. NATIONALS, OR ELIGIBLE NON-CITIZENS (U.S. PERMANENT RESIDENTS WHO POSSESS AN ALIEN REGISTRATION CARD). ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL STUDENT AID FOR THE FIRST TIME AFTER JULY 1, 1987, MUST HAVE A MINIMUM OF A "C" (2.0) AVERAGE BY THE END OF THEIR 2ND ACADEMIC YEAR OF STUDY. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATIONS LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY ANY EDUCATIONAL LOAN. ACADEMIC SCHOLARSHIPS FUNDED BY THE COLLEGE DO NOT REQUIRE REPAYMENT. WORK STUDY IS AVAILABLE TO FULL TIME AND HALF TIME STUDENTS TO ENABLE THEM TO EARN MONEY FOR INCIDENTAL AND PERSONAL EXPENSES. GOLF TOURNAMENT 64000 33040 30960 4900 10000 4718 PLOUGHSHARES 59500 51880 7620 499 350 18568 1 46267 12543 33724 750 6160 82716 4245 27847 169767 97463 72304 750 5399 16160 87434 4595 46415 160753 -88449 true EMERSON COLLEGE FUNDED SCHOLARSHIPS 2112 28621657 FEDERAL SCHOLARSHIPS 1095 799743 STATE SCHOLARSHIPS 332 505879 MONITOR THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. FEDERAL TYPES OF ASSISTANCE ARE ALSO AWARDED ON DEMONSTRATED FINANCIAL NEED. LIMITATIONS ON FUNDING LEVELS REQUIRE THE COLLEGE TO ADHERE STRICTLY TO APPLICATION DEADLINES. AWARDS INCLUDE SCHOLARSHIPS, ASSISTANTSHIPS AND SIMILAR PAYMENTS AND DISTRIBUTIONS. FEDERAL AND INSTITUTIONAL FORMULAS ARE UTILIZED IN CALCULATING A FAMILY CONTRIBUTION BASE ON INFORMATION PROVIDED ON THE PROFILES AND/OR FAFSA APPLICATIONS ALONG WITH SUPPORTING DOCUMENTATION (E.G. FEDERAL TAX RETURNS). THE EXPECTED FAMILY CONTRIBUTION IS BASED ON A REVIEW OF THE FAMILY'S RESOURCES FROM EXPECTED TAXED AND UNTAXED INCOME ALONG WITH ASSETS SUCH AS SAVINGS AND HOME EQUITY. THE FAMILY CONTRIBUTION IS DEDUCTED FROM THE STUDENT'S COST OF ATTENDANCE RESULTING IN THE FAMILY'S NEED. THE AMOUNT OF NEED A FAMILY DEMONSTRATES DETERMINES THE AMOUNT OF ASSISTANCE THEY MAY BE ELIGIBLE TO RECEIVE. STUDENTS WHO APPLY FOR FINANCIAL ASSISTANCE MUST BE MATRICULATED, DEGREE-SEEKING CANDIDATES ENROLLED AT LEAST PART-TIME (4 CREDITS). FEDERAL REGULATIONS SPECIFY THAT FEDERAL FINANCIAL AID RECIPIENTS MUST BE U.S. CITIZENS, U.S. NATIONALS, OR ELIGIBLE NON-CITIZENS (U.S. PERMANENT RESIDENTS WHO POSSESS AN ALIEN REGISTRATION CARD). ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL STUDENT AID FOR THE FIRST TIME AFTER JULY 1, 1987, MUST HAVE A MINIMUM OF A "C" (2.0) AVERAGE BY THE END OF THEIR 2ND ACADEMIC YEAR OF STUDY. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATIONS LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY ANY EDUCATIONAL LOAN. ACADEMIC SCHOLARSHIPS FUNDED BY THE COLLEGE DO NOT REQUIRE REPAYMENT. WORK STUDY IS AVAILABLE TO FULL TIME AND HALF TIME STUDENTS TO ENABLE THEM TO EARN MONEY FOR INCIDENTAL AND PERSONAL EXPENSES. X X X X true true X X X X X X true false false false false false false false false L PELTON 322367 0 0 0 43739 0 11025 0 44389 0 421520 0 0 0 L MOORE 233053 0 0 0 6397 0 21116 0 6815 0 267381 0 0 0 W GILLIGAN 214583 0 0 0 11785 0 26319 0 16499 0 269186 0 0 0 C HUGHES 185475 0 0 0 1706 0 17104 0 9815 0 214100 0 0 0 MJ KNOLL FINN 183263 0 0 0 6450 0 17050 0 18156 0 224919 0 0 0 A TIEDEMANN 181244 0 0 0 905 0 16985 0 52947 0 252081 0 0 0 M MURPHY 248850 0 0 0 63399 0 0 0 2935 0 315184 0 0 0 J DONOHOE 164299 0 10000 0 947 0 20645 0 19499 0 215390 0 0 0 J ANDERSEN 170046 0 0 0 2303 0 15304 0 535 0 188188 0 0 0 R ORCHARD 227733 0 0 0 6138 0 20496 0 535 0 254902 0 0 0 J WACKS 170263 0 0 1843 0 0 0 15503 0 187609 0 0 0 D ROSEN 157058 0 0 18149 0 14472 0 15503 0 205182 0 0 0 J LIEBERGOTT 506004 0 0 61252 0 29400 0 38242 0 634898 0 0 0 D ELLIS 0 0 0 192065 0 0 0 0 0 192065 0 0 0 R ASHTON 100200 0 0 0 22646 0 9300 0 9805 0 141951 0 0 0 FIRST CLASS TRAVEL SCHEDULE J PART I LINE 1a IN ACCORDANCE WITH COLLEGE POLICY, SOME EMERSON EMPLOYEES TRAVELLED FIRST CLASS TRAVEL BASED ON THE LENGTH OF THE FLIGHT OR WITH PRIOR APPROVAL FROM THE PRESIDENT AND IS TREATED AS NON TAXABLE INCOME. SEVERANCE PAYMENT SCEDULE J PART I LINE 4 PER A CONTRACTUAL REQUIREMENT THERE WAS A SEVERANCE PAYMENT MADE TO D ELLIS OF $192,065. HOUSING ALLOWANCE SCHEDULE J PART I LINE 1a IN ACCORDANCE WITH COLLEGE POLICY AND AS A CONDITION OF EMPLOYMENT, THE COLLEGE REQUIRED THE PRESIDENT TO LIVE IN A RESIDENCE OWNED BY THE COLLEGE DURING HIS TENURE AS PRESIDENT. THE PRESIDENTIAL RESIDENCE IS EXTENSIVELY USED FOR COLLEGE BUSINESS AND ONLY A PORTION OF THE RESIDENCE IS USED EXCLUSIVELY BY THE PRESIDENT. THE RESIDENCE IS CLEANED FOR COLLEGE EVENTS, THE VALUE OF WHICH IS SO SMALL AS TO MAKE IT ADMINISTRATIVELY IMPRACTICAL TO ACCOUNT FOR. THE VALUE OF SUCH HOUSING FOR CALENDAR 2011 IS INCLUDED IN NON TAXABLE BENEFITS, THE VALUE OF WHICH WAS BASED ON AN INDEPENDENT MARKET APPRAISAL. TAX IDEMNIFICATIONS AND GROSS-UP PAYMENT SCHEDULE J PART 1 LINE 1a OCCASSIONALLY THE COLLEGE MAY PROVIDE CERTAIN PAYMENTS THAT HAVE BEEN GROSSED UP FOR TAX PURPOSES, WHICH ARE APPROVED BY THE BOARD OF TRUSTEES. THE BENEFIT IS TREATED AS TAXABLE COMPENSATION. MDFA-SERIES 2006 A 043431814 57584NAQ6 2006-11-30 86527038 DORMS/CLASSROOMS/OFFICE/THEATER false false false MDFA-SERIES 2010 A 043431814 57583RY74 2010-06-24 124760655 DORMS/CLASSROOMS/OFFICE/THEATER false false false CMFA-SERIES 2011 201563466 13048TMZ3 2011-12-08 55463072 DORMS/OFFICES/CLASSROOMS/PARKING false false false 11405000 0 86527038 0 0 0 687625 0 80975 85758438 0 0 2009 false false true true 0 0 124760655 0 11721000 0 941526 0 67272 92633609 14751881 4645367 2012 true false false true 0 0 55463072 0 4773867 0 621432 0 0 14098225 64085 35905463 2013 false false false true false false false false 0.00000 0.00000 0.00000 true false false false false 0.00023 0.00000 0.00023 true false false false false 0.00000 0.00000 0.00000 true true false false 0 true HYPO PUBLIC FINANCE 3. true true false false false false 0 false 0 false false false false false 0 false 0 false false X ADDITIONAL BOND INFORMATION SEE SCHEDULE O NA N/A 48192 FINANCIAL AID X 50 FAIR MARKET VALUE X 100 FAIR MARKET VALUE X 5 78125 MEAN VALUE X Equipment 1 8000 FAIR MARKET VALUE 1 false true true USE OF THIRD PARTY TO SELL NONCASH CONTRIBUTIONS PART I, 32A THE COLLEGE USES A THIRD PARTY BROKERAGE FIRM TO SELL GIFTS OF STOCK UPON RECEIPT. NUMBER OF CONTRIBUTIONS PART I, COLUMN (B) AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS. VOLUNTEERS Part I Line 6 THE COLLEGE IDENTIFIED THE AREAS AND DEPARTMENTS THAT USE VOLUNTEERS. DURING THE TAX YEARS. THESE DEPARTMENTS WERE ASKED TO ESTIMATE THE NUMBER OF VOLUNTEERS USED FOR THE VARIOUS PROGRAMS. THE TYPES OF SERVICES PROVIDED BY THESE VOLUNTEERS INCLUDE PHONE-A-THONS, ORIENTATION, CAMPUS TOUR GUIDES, AND INFORMATION SESSIONS. THE NUMBER DOES NOT INCLUDE MEMBERS OF THE GOVERNING BODY AND EMPLOYEES. FORM 990 REVIEW PART VI, SECTION B, LINE 11A A DRAFT FORM 990 IS GIVEN TO THE AUDIT COMMITTEE FOR THEIR REVIEW. DURING THIS REVIEW, QUESTIONS REGARDING THE DRAFT FORM 990 ARE ANSWERED BY MANAGEMENT. CHANGES ARE MADE IF APPROPRIATE. THE FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY BY WAY OF A SECURE, PASSWORD PROTECTED WEBSITE ON WHICH THE ENTIRE FORM 990 AND ALL REQUIRED SCHEDULES ARE AVAILABLE FOR REVIEW. ALL TRUSTEES ARE ASKED TO REVIEW THE FILING AND FORWARD ANY COMMENTS TO MANAGEMENT FOR CONSIDERATION AND DISCUSSION IF NECESSARY WITH THE TAX RETURN PREPARER, CURRENTLY KPMG. AT THE END OF THE REVIEW PERIOD, THE FINAL RETURN, AS IT WILL BE FILED WITH THE IRS, IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINES 12C THE BY-LAWS OF THE BOARD OF TRUSTEES CONTAIN A WRITTEN CONFLICT OF INTEREST POLICY. MEMBERS OF THE BOARD ANNUALLY ACKNOWLEDGE RECEIPT OF, AND FAMILIARITY WITH, THE POLICY. WHEN A MEMBER OF THE BOARD DISCLOSES A POSSIBLE CONFLICT OF INTEREST, OR WHEN A POSSIBLE CONFLICT IS OTHERWISE IDENTIFIED, IT IS REFERRED TO THE PRESIDENT OF THE COLLEGE AND THE CHAIR OF THE BOARD OF TRUSTEES. THE CHAIR REVIEWS THE POSSIBLE CONFLICT OF INTEREST AND, IF WARRANTED, SELECTS AN AD HOC COMMITTEE TO REVIEW THE POSSIBLE CONFLICT OF INTEREST. THE PRESIDENT AND THE VICE PRESIDENT AND GENERAL COUNSEL OF THE COLLEGE PREPARE A MEMORANDUM DESCRIBING THE POTENTIAL CONFLICT OF INTEREST THAT IS SENT TO THE MEMBERS OF THE AD HOC COMMITTEE. THE MEMBERS OF THE AD HOC COMMITTEE MEET AND DETERMINE WHETHER TO PERMIT THE POTENTIAL CONFLICT OF INTEREST. COMPENSATION PART VI, SECTION B, LINE 15B THE COLLEGE REVIEWED AND REVISED THE COMPENSATION PAID TO ITS PRESIDENT; VICE PRESIDENT FOR ACADEMIC AFFAIRS; VICE PRESIDENT FOR INFORMATION TECHNOLOGY; VICE PRESIDENT AND GENERAL COUNSEL; VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT; VICE PRESIDENT FOR PUBLIC AFFAIRS; VICE PRESIDENT FOR ENROLLMENT MANAGEMENT. THE COLLEGE WAS ASSISTED THROUGHOUT THE PROCESS BY INDEPENDENT OUTSIDE COUNSEL EXPERIENCED WITH RESPECT TO THE APPLICABLE DUTIES AND REQUIREMENTS. AT THE OUTSET OF THE PROCESS, COUNSEL ADVISED THE BOARD MEMBERS IN WRITING AS TO THE APPLICABLE STANDARDS AND PROCEDURES. VICE PRESIDENT COMPENSATION RECOMMENDATIONS BY THE PRESIDENT WERE INITIALLY REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE AND COUNSEL FIRST DETERMINED THAT NO MEMBER OF THE COMMITTEE HAD A CONFLICT OF INTEREST. THEN, THE PRESIDENT AND THE COMMITTEE CONSIDERED THE RESPONSIBILITIES OF EACH POSITION, THE COLLEGE'S NEEDS AND EXPECTATIONS WITH RESPECT TO EACH POSITION, THE JOB PERFORMANCE OF EACH VICE PRESIDENT, THE FINANCIAL HEALTH OF THE COLLEGE, AND COMPREHENSIVE COMPARABILITY DATA PROVIDED BY AN INDEPENDENT NATIONAL COMPENSATION CONSULTING FIRM. AFTER DISCUSSION, THE COMMITTEE APPROVED RECOMMENDED COMPENSATIONS TO BE SUBMITTED TO THE FULL BOARD OF TRUSTEES. THE PRESIDENT AND VICE PRESIDENT COMPENSATIONS WERE THEN CONSIDERED AT A MEETING OF THE FULL BOARD OF TRUSTEES. FIRST, COUNSEL AND THE TRUSTEES DETERMINED THAT NO TRUSTEE PRESENT AT THE MEETING HAD A CONFLICT OF INTEREST. THEN, IN THE BOARD'S CONSIDERATION OF THE PROPOSED COMPENSATIONS, THE TRUSTEES GAVE PARTICULAR ATTENTION TO THE RESPONSIBILITIES OF THE PRESIDENT AND EACH VICE PRESIDENT POSITION, THE COLLEGE'S NEEDS AND EXPECTATIONS WITH RESPECT TO EACH POSITION, THE FINANCIAL HEALTH OF THE COLLEGE, THE JOB PERFORMANCE OF THE PRESIDENT AND EACH VICE PRESIDENT, THE RECOMMENDATIONS OF THE PRESIDENT AND THE COMPENSATION COMMITTEE, AND THE COMPREHENSIVE COMPARABILITY DATA THAT WAS ALSO CONSIDERED BY THE PRESIDENT AND THE COMPENSATION COMMITTEE. AFTER DISCUSSION, THE BOARD OF TRUSTEES APPROVED COMPENSATION TERMS FOR THE PRESIDENT AND EACH VICE PRESIDENT. THE ABOVE PROCESS, INCLUDING IDENTIFICATION OF THE BOARD MEMBERS WHO WERE PRESENT AND APPROVED THE COMPENSATIONS, WAS DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES MEETING. THESE MINUTES WERE THEN APPROVED AT THE NEXT BOARD OF TRUSTEES MEETING. PUBLIC DISCLOSURE PART VI, SECTION C, LINE 19 EMERSON COLLEGE MAKES AVAILABLE FORM 990 AND FORM 990T UPON REQUEST. DURING THE YEAR, THE COLLEGE RECEIVES REGULAR REQUESTS FOR THE TAX DOCUMENTS AND THESE REQUESTS ARE NORMALLY FULFILLED WITHIN A DAY. THE COLLEGE MAKES AVAILABLE ITS GOVERNING DOCUMENTS (BY-LAWS) ON THE COLLEGE'S WEBSITE. THE COLLEGE MAKES AVAILABLE ON ITS WEBSITE ITS CONFLICT OF INTEREST POLICY. THE COLLEGE DOES NOT CURRENTLY MAKE ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. OTHER CHANGES IN NET ASSETS PART XI, LINE 5 UNREALIZED LOSS ON INVESTMENTS $(2,776,855) ADDITIONAL COMPENSATION INFORMATION PART VII, SECTION A K. BRIGHT RECEIVED COMPENSATION FOR BEING A FACULTY MEMBER OF THE COLLEGE, NOT IN HIS CAPACITY AS TRUSTEE. SCHEDULE K, PART VI - SUPPLEMENTAL INFORMATION PART I, LINE B THE SERIES 2010A ISSUED BY THE MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY INCLUDED THE REFUNDING OF THE SERIES 1999A ISSUED 4/25/1999. PART II, LINE 11, COLUMN B THE AMOUNTS SPENT REPRESENT FUNDS USED TO REDEEM THE SERIES 1999A. CHARITABLE REMAINDER UNITRUST CRUT MA NA Trust 173039 0.72610 false false false false false false false false false false false false false false false false false false