2013-05-08T08:10:17-07:00 2012-06-30 990 2011-07-01 010211497 PRESIDENT & TRUSTEES OF COLBY COLLEGE PRES 2078594127 4120 Mayflower Hill Waterville ME 04901 Douglas Terp 2078594770 2013-05-08 2011 2016-02-25 16:41:14Z William D Adams 4605 Mayflower Hill Waterville ME 04901 252004000 0 X www.colby.edu X 1821 ME Education 35 33 2686 2000 688000 -109422 22558000 16334000 102634000 104827000 32508000 36544000 294000 477000 157994000 158182000 24013000 25533702 0 0 60265000 61775000 0 0 4913000 51944000 51612298 136222000 138921000 21772000 19261000 1050624000 1059423000 131831000 154376000 918793000 905047000 Colby seeks to provide a unique educational experience and a broad acquaintance with human knowledge to enable each student to fulfill his or her own unique potential. 0 0 114460000 25534000 104827000 Post secondary education: Instruction of 1,815 undergraduate students in 2011/12. 472 were graduated in the 2011/12 year. This includes expenditures for faculty, dormitories and dining, student and academic support services, campus maintenance services and other related costs. 0 0 0 114460000 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 3026 1 1 2686 1 1 1 1 SP FR UK 0 0 0 1 1 0 0 0 0 X 35 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Ruben L Rivera 2078594127 4120 Mayflower Hill Waterville ME 04901 Adams William D 40 X X 414852 0 123147 Diamond Robert E 5 X 0 0 0 Uchida Richard Y 5 X 0 0 0 Alfond William L 5 X 0 0 0 Boulos Joseph F 5 X 0 0 0 Causey Julie Sands 5 X 0 0 0 Connolly Ann Marie 5 X 0 0 0 Corbett Rebecca Littleton 5 X 0 0 0 Cotter William R 5 X 0 0 0 Crawford James B 5 X 0 0 0 Devine John B 5 X 0 0 0 Gelbard Robert S 5 X 0 0 0 Goldfarb William H 5 X 0 0 0 Gordon Michael L 5 X 0 0 0 Halloran Todd W 5 X 0 0 0 Hoopes Jr Robert R 5 X 0 0 0 James Emma J 5 X 0 0 0 Khoury Colleen A 5 X 0 0 0 Krensky Harry F 5 X 0 0 0 Lawry Seth W 5 X 0 0 0 Lunder Paula Crane 5 X 0 0 0 McClain John W 5 X 0 0 0 Montgoris William 5 X 0 0 0 Morgan Betsy L 5 X 0 0 0 Oates William A 5 X 0 0 0 Papadellis Randy 5 X 0 0 0 Pugh Lawrence R 5 X 0 0 0 Pulver David 5 X 0 0 0 Reed Kathleen Pinard 5 X 0 0 0 Richardson Lou 5 X 0 0 0 Rosengren Eric 5 X 0 0 0 Siritunga Dilan 5 X 0 0 0 Snyder Edward A 5 X 0 0 0 Spillane Paul G 5 X 0 0 0 Terrell Charles 5 X 0 0 0 Walter Amy E 5 X 0 0 0 Woodfork Joshua C 5 X 0 0 0 Terp Douglas C 40 X 235297 0 57818 Cox Deborah Dutton 40 X 243421 0 34756 Cowdrey Teresa E 40 X 113126 0 10337 Beverage Parker J 40 X 160523 0 20521 Terhune James S 40 X 149817 0 34640 Baker Sally A 40 X 141256 0 25348 Kletzer Lori G 40 X 263912 0 21408 Kiser Michael D 40 X 50487 0 6894 Reinhardt Douglas E 40 X 188845 0 27585 Yeterian Edward H 40 X 211788 0 25983 Maisel L Sandy 40 X 194932 0 25208 Mackenzie G Calvin 40 X 176951 0 22136 Whitmore Richard L 40 X 194160 0 25939 Cole F Russell 40 X 160361 0 22881 Kassman Janice A 40 X 111645 0 16596 3011373 0 501197 95 1 1 0 PC Construction Company 193 Tilley Drive South Burlington VT 05403 Construction 8571611 Sodexo Operations LLC PO Box 5035 Boston MA 02107 Food Services 5730942 Consigli Construction Co Inc 15 Franklin Street Portland ME 04101 Construction 2723981 H P Cummings Construction Co Inc PO Box 297 Winthrop ME 04364 Construction 2304274 Ouellet Associates Inc 56 Bibber Parkway Brunswick ME 04011 Construction 713101 20 0 0 0 0 1909000 14425000 4295000 16334000 Tuition and fees 611310 80764000 80764000 0 0 Auxiliary 611710 22677000 22677000 0 0 Summer Programs 900099 434000 0 434000 0 Physical Fitness Facility 713940 3000 0 3000 0 949000 949000 0 0 104827000 7126000 0 0 7126000 0 0 0 0 3000 0 0 3000 102000 0 0 0 102000 0 102000 0 0 102000 68338000 54902000 64795000 29027000 3543000 25875000 29418000 0 251000 29167000 0 372000 83000 0 289000 372000 158182000 104473000 688000 36687000 350702 350702 23230000 23230000 1953000 1953000 2062888 391249 1277642 393997 0 0 0 0 44279112 36939751 5139358 2200003 2908000 2330000 418000 160000 9388000 7602000 1209000 577000 3137000 2573000 388000 176000 6597000 5750000 743000 104000 204000 87000 110000 7000 132000 0 132000 0 0 0 0 0 4609000 0 4609000 0 0 0 0 0 0 0 0 0 12284000 11275000 668000 341000 1997000 1041000 953000 3000 6099000 5378000 605000 116000 3449000 2897000 346000 206000 0 0 0 0 0 0 0 0 3054000 2723000 265000 66000 0 0 0 0 8804000 7231000 1262000 311000 1245000 1041000 190000 14000 Dues and Memberships 488000 257000 164000 67000 Staff Recruitment 404000 331000 73000 0 Miscellaneous 2246298 1079298 996000 171000 138921000 114460000 19548000 4913000 0 0 32090000 37205000 140694000 134749000 3004000 4310000 667000 650000 0 0 9744000 8096000 700000 834000 1890000 1888000 294331000 111778000 173486000 182553000 97706000 98282000 572355000 561205000 18288000 29651000 1050624000 1059423000 13120000 13000000 0 0 671000 1163000 74865000 90628000 0 0 0 0 0 0 0 0 43175000 49585000 131831000 154376000 X 299005000 303930000 289844000 266218000 329944000 334899000 918793000 905047000 1050624000 1059423000 X 19261000 -33007000 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 10000 10000 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The College paid $10,000 in dues to various organizations, some portion of which may be used for lobbying in connection with issues that impact higher education. 244000 34051000 0 0 X X X X 0 611441000 5639000 9876000 8308000 14482000 4609000 599557000 502076000 13587000 125042000 7418000 16566000 5280000 611441000 452990000 8014000 67154000 7484000 13244000 5354000 502076000 600248000 5532000 -122565000 7712000 15399000 7114000 452990000 0.294 0.316 0.39 0 0 0 194000 194000 0 217798000 96791000 121007000 0 27751000 13123000 14628000 0 1180000 629000 551000 0 47408000 1235000 46173000 182553000 Other Securities- Domestic Equity 23472000 F Other Securities- Hedge Funds 145245000 F Other Securities- Foreign Equity 12303000 F Other Securities- Real Estate 11065000 F Other Securities- Hard Asset 11533000 F Temporary Cash Investments 92334000 F Foreign Currency -70000 F Partnerships- Private Equity 146598000 F Partnerships- Foreign Equity 49938000 F Partnerships- Hedge Funds 19994000 F Partnerships- Hard Assets 12289000 F Partnerships- Real Estate 36504000 F 561205000 Government advances for student loans 5212000 Annuity obligations 12178000 Post retirement benefit obligation 27801000 Asset retirement obligation 4394000 49585000 158182000 138921000 19261000 -26655000 0 0 0 -6352000 -33007000 -13746000 126939000 -26655000 0 0 21000 -26634000 153573000 4609000 0 4609000 158182000 140010000 0 0 0 0 0 140010000 4609000 -5698000 -1089000 138921000 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Founded in 1959 and now comprising four wings, more than 7,000 works, and more than 28,000 square feet of exhibition space, the Colby College Museum of Art has built a significant permanent collection that specializes in American and contemporary art. The Museum is part of the Bixler Art and Music Center, a building named in honor of President J. Seelye Bixler (1942-1960) in recognition of his visionary support for the arts at Colby. The Museum serves both as a teaching resource for Colby College and as an active cultural institution for the residents of Maine and visitors to the state. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College's endowment funds provide income and support for the furtherance of the educational mission of the College. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax effect is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The College has a number of tax positions, none of which result in an uncertainty requiring recognition. The College is not currently under examination by any taxing jurisdictions. The College's Federal and state tax returns are generally open for examination for three years following the date filed. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Post retirement benefit cost change ($4,838,000), Accretion of asset retirement obligation $21,000, Change in annuity and life income fund ($860,000), Loss on refinancing ($675,000). SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Accretion of asset retirement obligation $21,000. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Post retirement benefit cost change ($4,838,000), Change in annuity and life income fund ($860,000). 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 Annual publication of non-discriminatory policy in the region's largest newspaper, the Boston Globe. SchE_P01_S00_L06 Schedule E, Part I, Line 6 The College receives government grants for financial aid to students, faculty research, support of various innovative academic programs and energy related projects. 1 Europe (including Iceland and Greenland) 3 7 Program Services Study Abroad Program 1301000 Central America and the Caribbean 0 2 Program Services Study Abroad Program 102000 Russia and the newly independent States 0 0 Program Services Study Abroad Program 71000 South America 0 1 Program Services Study Abroad Program 40000 South Asia 0 0 Program Services Study Abroad Program 3000 Europe (including Iceland and Greenland) 0 0 Grantmaking 1027000 East Asia and the Pacific 0 0 Grantmaking 346000 Sub-Saharan Africa 0 0 Grantmaking 189000 Central America and the Caribbean 0 0 Grantmaking 118000 South America 0 0 Grantmaking 115000 South Asia 0 0 Grantmaking 81000 Russia and the newly independent States 0 0 Grantmaking 48000 Middle East and North Africa 0 0 Grantmaking 29000 Central America and the Caribbean 0 0 Investments 37798000 Europe (including Iceland and Greenland) 0 0 Investments 3979000 3 10 45247000 Scholarships Europe (including Iceland and Greenland) 38 1027000 check 0 Scholarships East Asia and the Pacific 13 346000 check 0 Scholarships Sub-Saharan Africa 8 189000 check 0 Scholarships Central America and the Caribbean 5 118000 check 0 Scholarships South America 6 115000 check 0 Scholarships South Asia 3 81000 check 0 Scholarships Russia and the newly independent States 1 48000 check 0 Scholarships Middle East and North Africa 1 29000 check 0 1 0 1 1 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Grants to students are made in accordance with Federal and Institutional Financial Aid policies. The grant funds are used for academic course work for foreign study-abroad. The Registrar's Office determines that academic standards are met before academic credit is received by the student. 1 Waterville Public Library 73 Elm St Waterville ME 04901 010228705 16565 0 general support Maine International Film Festival 10 Railroad Square Waterville ME 04901 010419284 501(c)(3) 20000 0 general support Mid-Maine Homeless Shelter PO Box 2612 Waterville ME 04901 010425115 501(c)(3) 5004 0 general support Waterville Main Street PO Box 945 Waterville ME 04901 010544901 501(c)(3) 25000 0 general support Central Maine Growth Council 50 Elm Street Waterville ME 04901 010546258 12500 0 general support City of Waterville Inc One Common Street Waterville ME 04901 016000037 203333 0 general support Educare Central Maine 97 Warer Street Waterville ME 04901 264176872 501(c)(3) 20000 0 general support Waterville Opera House Assoc 93 Main St Waterville ME 04901 510159481 501(c)(3) 48300 0 general support 5 3 Scholarships to students 715 0 23230000 Credit to student accounts SchI_P01_S00_L02 Schedule I, Part I, Line 2 Grants to governments and organizations are made and monitored by College personnel in support of local community relations. College's Grants to individuals are made and monitored in accordance with Federal and Institutional Financial Aid policies. Amounts are applied to student accounts as credits to the bill at the bursar's office to offset academic charges. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Adams William D 396764 0 750 0 17338 0 72802 0 50345 0 537999 0 0 0 Terp Douglas C 228837 0 750 0 5710 0 21745 0 36073 0 293115 0 0 0 Cox Deborah Dutton 240316 0 750 0 2355 0 19036 0 15720 0 278177 0 0 0 Cowdrey Teresa E 113126 0 0 0 0 0 0 0 10337 0 123463 0 0 0 Beverage Parker J 157265 0 750 0 2507 0 14113 0 6408 0 181043 0 0 0 Terhune James S 148872 0 750 0 195 0 14248 0 20392 0 184457 0 0 0 Baker Sally A 140277 0 750 0 230 0 13007 0 12341 0 166605 0 0 0 Kletzer Lori G 237967 0 750 0 25195 0 0 0 21408 0 285320 0 0 0 Kiser Michael D 46662 0 0 0 3825 0 0 0 6894 0 57381 0 0 0 Reinhardt Douglas E 184510 0 750 0 3585 0 16777 0 10808 0 216430 0 0 0 Yeterian Edward H 205493 0 750 0 5545 0 18975 0 7008 0 237771 0 0 0 Maisel L Sandy 189914 0 750 0 4268 0 17507 0 7701 0 220140 0 0 0 Mackenzie G Calvin 172399 0 750 0 3802 0 15635 0 6501 0 199087 0 0 0 Whitmore Richard L 190332 0 750 0 3078 0 17611 0 8328 0 220099 0 0 0 Cole F Russell 157428 0 750 0 2183 0 13623 0 9258 0 183242 0 0 0 Kassman Janice A 110453 0 750 0 443 0 9495 0 7101 0 128242 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a First-class or charter travel- William D. Adams. The College pays a $300 membership fee which allows the traveler access to flight upgrades when seats are available. The College also pays a small upgrade fee for the upgraded flight. Travel for companions- William D. Adams. Travel for companions is solely permitted when the companion's travel is in furtherance of the College's business purposes. Housing allowance or residence- William D. Adams. Housing allowance provided as a working condition fringe benefit. All benefits were provided in accordance with written College policies. None of the benefits were treated as taxable compensation. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 President William D. Adams participates in a deferred compensation arrangement. The amount earned in fiscal year 2012 under the program totaled $25,000. SchJ_P01_S00_L07 Schedule J, Part I, Line 7 Bonus amounts reported on Schedule J, Part II, column (B)(ii) are determined by the Board of Trustees. Maine Health & Higher Educational Facilities Authority 010314384 560425UZ1 2005-08-17 18325000 Facilities 0 0 1 Maine Health & Higher Educational Facilities Authority 010314384 5604252A7 2006-09-06 14025000 Facilities 0 0 1 Maine Health & Higher Educational Facilities Authority 010314384 560425H37 2007-07-17 9260000 Facilities 0 0 1 Maine Health & Higher Educational Facilities Authority 010314384 560425T83 2007-11-01 11525000 Facilities 0 0 1 0 0 19143710 1829813 0 0 232436 0 0 17076720 4741 0 2006 0 0 1 1 0 0 14203352 1236740 0 0 178352 0 0 12788260 0 0 2007 0 0 1 1 0 0 10423507 851141 0 0 114817 0 0 9454871 2678 0 1997 1 0 1 1 0 0 11833943 860000 0 0 143259 0 0 10830141 543 0 2008 0 0 1 1 0 0 1 1 0 0.001 0 0.001 1 0 0 1 1 0 0.022 0.001 0.023 1 0 0 1 1 0 0.005 0 0.005 1 0 0 1 1 0 0.01 0 0.01 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SchK_P05_S00_L00 Schedule K, Part V The College has adopted written procedures as of June 30, 2012, to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations. The College did not check the Schedule K, Part V box because written procedures were not in effect for the full 12 months prior to June 30, 2012. Maine Health & Higher Educational Facilities Authority 010314384 560425W97 2008-06-19 12915000 Facilities 0 0 1 Maine Health & Higher Educational Facilities Authority 010314384 560427HM1 2010-06-24 7025000 Facilities 0 0 1 Maine Health & Higher Educational Facilities Authority 010314384 560427RB4 2012-01-19 27670000 Facilities 0 0 0 0 0 14117084 1095056 0 0 252037 0 0 12765505 4486 0 2009 1 0 1 1 78074 0 9173706 924051 0 0 75797 0 0 8171892 1966 0 2002 0 1 1 1 0 0 31378404 0 0 13710871 416524 0 0 5250000 0 12001009 2014 0 1 0 1 0 0 1 1 0 0.009 0.015 0.024 1 0 0 1 1 0 0.004 0.008 0.012 1 0 0 1 1 0 0.012 0 0.012 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 James S Terhune mortgage on primary residence X 245000 214000 0 1 1 Deborah Dutton Cox mortgage on primary residence X 222500 191000 0 1 1 Teresa E Cowdrey mortgage on primary residence X 250000 245000 0 1 1 650000 Martha Reinhardt spouse of key employee 15854 compensation 0 Barclays PLC Trustee Robert E Diamond 258239 Debt consulting services 0 SchL_P04_S00_L00 Schedule L, Part IV Trustee Robert E. Diamond was part of the management group at Barclays PLC but was not directly involved in providing debt consulting services to the College. X 12 244000 qualified appraisals X 101 4040000 IRS valuation on gift date X Educational Materials 45 11000 Cost of donated materials 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b The College utilizes financial services firms to assist with the sales of publicly traded securities, real estate and other similar non-cash gifts. All transactions are conducted at arms-length and for good and sufficient consideration. The amounts in Part I, column B reflect total number of contributions. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The return is reviewed by an independent accounting firm and the audit subcommittee of the Board of Trustees. The College provides an electronic copy of the full IRS Form 990 via a password protected web-site on which the form may be viewed by all voting members of the Board of Trustees prior to filing. The College notifies Board members that the Form 990 is available for review on that site. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c A Conflict of Interest questionnaire is completed annually by all members of the Board of Trustees, all Officers and all Key Employees. The completed questionnaires are reviewed by College management and any potential conflicts are discussed with the Audit Subcommittee of the Board of Trustees. The Audit Subcommittee will enforce compliance with the Conflict of Interest policy. Any individual with a conflict of interest is prohibited from participating in deliberations and decisions involving the transaction. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 For the President's compensation, a comparison to peer institutions is undertaken annually. In addition, each year an independent compensation consultant is engaged to assess the reasonableness of the compensation amount. The President's compensation amount is reviewed and approved annually by the Executive Committee of the Board of Trustees. For all other Officers and Key Employees, a comparison to peer institutions is undertaken annually. The College President will recommend the annual compensation amounts for all other Officers and Key Employees, which are reviewed and approved annually by the Executive Committee of the Board of Trustees. Compensation of the President, Officers and Key Employees is set by independent persons and documented contemporaneously. F990_P06_S0C_L17 Form 990, Part VI, Section C, Line 17 The College is not required to file Form 990 in any state. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Annual financial statement is available on Colby's public web-site. Other governing documents and the conflict of interest policy are made available to the public upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Unrealized loss on investments ($26,655,000), Post retirement benefit cost change ($4,838,000), Accretion of asset retirement obligation $21,000, Change in annuity and life income funds ($860,000), Loss on refinancing ($675,000). Colby College Charitable Trust 4120 Mayflower Hill Waterville ME 04901 010529787 supporting organization ME 501(c)(3) support org- Type II N/A 1 Mayflower Hill Broadcasting WMHB 4000 Mayflower Hill Waterville ME 04901 141876184 operation of radio station ME 501(c)(3) 7 N/A 1 Colby College UK c/o Colby College 4120 Mayflower Hill Waterville ME 04901 foreign educational program- ceased operations ME foreign exempt org. N/A 1 Charitable Remainder Trust (24) 4120 Mayflower Hill Waterville ME 04901 Charitable Remainder Unitrust ME N/A T Charitable Remainder Annuity Trust (1) 4120 Mayflower Hill Waterville ME 04901 Charitable Remainder Annuity Trust ME N/A T Colby College Pooled Income Fund B (1) 4120 Mayflower Hill Waterville ME 04901 Pooled Income Fund ME N/A T 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0