2012-05-15T08:58:58-07:00 2011-06-30 990 2010-07-01 410694747 CARLETON COLLEGE CARL 5072224000 One North College Street Northfield MN 55057 Frederick A Rogers 5072224171 2011-12-31 2010 2016-02-24 21:20:13Z Steven Poskanzer One North College Street Northfield MN 55057 192389167 0 X www.carleton.edu X 1866 MN Carleton College is a small, private liberal arts college, located in Northfield, Minnesota, best known for its academic excellence and warm, welcoming campus community. Carleton offers 36 majors and 15 concentrations in the arts, humanities, natural sciences and social sciences. 47 46 2919 4920 200268 -80901 49225028 39227643 96002650 99567815 8600620 20231811 2594668 4128326 156422966 163155595 28022026 29572953 0 0 64248034 66251277 0 0 3646300 49001207 50308784 141271267 146133014 15151699 17022581 907853562 1020520263 172833223 167410837 735020339 853109426 Carleton College's mission is to provide an exceptional undergraduate liberal arts education. The College is devoted to academic excellence, distinguished by the creative interplay of teaching, learning, and scholarship and is dedicated to a diverse residential community and extensive international engagements. 0 0 79562909 29572953 81791972 Instruction - Carleton College exists to provide a high quality liberal arts education for young women and men, preparing them for leadership in their communities, countries and the world. A Student-Faculty Ratio of 9:1 supports them with classroom, laboratory, off-campus study and research opportunities. Average class size is 18. 74% of the graduation class of 2011 participated in a study abroad program during their Carleton experience. (1956 students) Student Financial Aid Programs - Carleton meets 100% of the financial need of all admitted students to ensure affordability and accessibility; achieve cultural, racial, ethnic and socioeconomic diversity; and to fund the school's growing commitment to globalization (1227 students) 17960311 0 17775843 Auxiliary Enterprises - Carleton College maintains a rural residential campus to enhance the educational experience of the student body with room and board programs designed to encourage a spirit of collegiality and conversation beyond the classroom and laboratory (1741 students) 14513427 0 0 Student Services Programs: Programs designed to support the Carleton College student life experience including co-curricular and recreational opportunities (1950 students) 13742612 0 0 Academic Support programs enhance the Carleton liberal arts experience with library and information technology resources. (1956 Students) 13742612 0 0 125779259 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 494 0 1 2919 1 1 1 1 AS AU EI FR HK JA NL NZ SF SN SP SW SZ UK 1 1 1 0 0 X 47 46 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MN NH WA X X X Frederick A Rogers 5072225411 One North College Street Northfield MN 55057 X Steven G Poskanzer 60 X X 154565 0 0 Mark W Banks 5 X 0 0 0 Carol A Barnett 5 X 0 0 0 Danielle Bart 5 X 0 0 0 Alan R Bauer 5 X 0 0 0 William C Craine 5 X 0 0 0 Beth B Davis 5 X 0 0 0 Nancy Pellowe Dennis 5 X 0 0 0 David M Diamond 5 X 0 0 0 Arnold W Donald 5 X 0 0 0 Jack W Eugster 5 X 0 0 0 William A Feldt 5 X 0 0 0 Don J Frost Jr 5 X 0 0 0 William R Gage 5 X 0 0 0 Maureen G Gupta 5 X 0 0 0 John Harris 5 X 0 0 0 Sara L Hays 5 X 0 0 0 Elise M Holschuh 5 X 0 0 0 James E Johnson 5 X 0 0 0 Martha H Kaemmer 5 X 0 0 0 Pamela Kiecker 5 X 0 0 0 Arthur Kowaloff 5 X 0 0 0 Leslie B Kautz 5 X 0 0 0 Richard B Kracum 5 X 0 0 0 Keith A Libbey 5 X 0 0 0 Marilyn M McCoy 5 X 0 0 0 William R McLaughlin 5 X 0 0 0 Robert W Nelson 5 X 0 0 0 Mark Noel 5 X 0 0 0 Gary T O'Brien 5 X 0 0 0 Diane Harrison Ogawa 5 X 0 0 0 Catherine J Pagila 5 X 0 0 0 Elizabeth J Pennie 5 X 0 0 0 Lawrence Perlman 5 X 0 0 0 Jack W Schuler 5 X 0 0 0 Margaret Simms 5 X 0 0 0 Dave Smith 5 X 0 0 0 John H Stout 5 X 0 0 0 Gary L Sundem 5 X 0 0 0 Caesar F Sweitzer 5 X 0 0 0 Paul T Van Valkenburg 5 X 0 0 0 Kirk Weidner 5 X 0 0 0 Wallace R Weitz 5 X 0 0 0 Justin B Wender 5 X 0 0 0 Mark R Williams 5 X 0 0 0 Sidney C Wolff 5 X 0 0 0 Robert A Oden 60 X X X 556681 0 0 Frederick A Rogers 50 X 268593 0 0 Kristine A Cecil 50 X X 131653 0 0 Beverly Nagel 50 X 210358 0 0 Gayle McJunkin 50 X 152292 0 0 M H Wagner 50 X 174628 0 0 Paul Thiboutot 50 X 156016 0 0 Jason Matz 50 X 268057 0 0 Andrew Christensen 50 X 171565 0 0 Seth N Greenberg 50 X 169012 0 0 Joel Weisberg 50 X 161354 0 0 Joel Cooper 50 X 144991 0 0 2719765 0 0 96 1 1 0 Bon Appetit 100 Hamilton Avenue Suite 400 Palo Alto CA 94301 Food Service 7032338 McGough Contruction Co Inc 2737 Faiview Avenue North St Paul MN 551131372 Construction contractor 6158519 Northfield Construction 1600 Riverview Lane Northfield MN 55057 Construction contractor 2258125 JE Dunn Construction 9855 W 78th Street Suite 270 Eden Prairie MN 55344 Construction contractor 1742208 Mavo Systems 4330 Centerville Road St Paul MN 551273676 Environmental contractor 1339058 35 0 0 0 0 3253393 35974250 263850 39227643 Comprehensive fee 611310 99567815 99567815 0 0 0 0 0 0 99567815 4204255 0 0 4204255 1939 0 0 1939 61163 0 0 61163 233264 0 532610 0 -299346 0 -299346 0 7505 -306851 41899316 1827881 27443064 258516 14456252 1569365 16025617 0 0 16025617 0 1544277 999382 544895 544895 0 0 Summer Academic Programs 611310 813373 813373 0 0 Wind Turbine 221000 192763 0 192763 0 Other Auxiliary Enterprises 900003 154636 154636 0 0 2660842 2660842 0 0 3821614 163155595 103741561 200268 19986123 0 29572953 29572953 2018435 366144 1652291 0 48004027 40492460 5386290 2125277 4403521 3571154 647183 185184 8503273 6767270 1321689 414314 3322021 2725949 463698 132374 1720939 1213594 454708 52637 97754 97754 86744 86744 2219061 2219061 0 86404 25469 58017 2918 4775480 3684613 834499 256368 1887096 1466209 420887 0 0 5178836 5105040 73796 6219640 5814919 205507 199214 489006 417668 47750 23588 2701682 2628677 73005 0 8838082 8448134 389948 612992 308105 304887 Food Service 5908433 5908433 0 0 Off Campus Studies 4010179 4010179 0 0 Membership fees 276081 0 276081 0 Faculty and staff recruitment 266669 0 266669 0 Other 4933706 3252289 1426991 254426 146133014 125779259 16707455 3646300 55078144 48884949 41073523 33034539 1661692 1773499 8412078 8276396 952295 891238 1779341 1793923 305543086 133738227 145460287 171804859 617591249 734633398 35844953 19427462 907853562 1020520263 11340691 18173026 5402665 5355614 6427087 4858460 122693505 110891662 0 0 0 26969275 28132075 172833223 167410837 X 249873836 314688013 310427112 359613387 174719391 178808026 735020339 853109426 907853562 1020520263 X 17022581 101066506 X 1 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 0 1 0 0 1 0 1 350 0 350 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 Schedule C, Part II-B, Line 1 - The President, the Vice President and Treasurer, and the Office of College Relations occasionally contact legislators to express the College's views on pending legislation which would affect the College. Costs incurred in connection with these activities are insignificant and no separate account is made for these costs. In addition, students participate in a volunteer activity sponsored by the Minnesota Private Council (MPCC) called "Day at the Capital" to discuss the importance of the State Grant Program with representatives. Costs incurred by the College to support this program are de minimus. 263890 263850 0 0 X X X 0 582570193 9469250 109737985 7355446 24886524 3132695 666402763 540722300 17555876 58848146 7240689 24872470 2442970 582570193 670511423 9766908 -102669593 7585577 26245329 3055532 540722300 0.33 0.67 0 1 0 0 3638077 3638077 0 181420098 67303750 114116348 0 0 0 0 0 86110070 66434477 19675593 0 34374841 0 34374841 171804859 0 0 Cash and Cash Equivalents 47857533 F Fixed Income 59618026 F Public Equities 201691514 F Hedge Funds 196509194 F Private Equity 131536710 F Real Estate and Other Real Assets 39988170 F Planned Gift Agreements and Other 57432251 F 734633398 0 Annuities Payable 23243923 Asset Retirement Obligation 2467953 Fair Value of Interest Rate SWAP 2420199 28132075 163155595 146133014 17022581 101181166 0 2219059 0 -2317921 101082304 118104885 232430088 101181166 0 0 -33438665 67742501 164687587 0 -1531992 -1531992 163155595 114341001 0 0 0 0 0 114341001 2219060 29572953 31792013 146133014 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Schedule D, Part III, Line 4 - Carleton's Art Collection is for student research and study including College archives of institutionally significant treasures and Library collections. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment funds are to support grants to students and the program services of the College. SchD_P10_S00_L02 Schedule D, Part X, Line 2 Schedule D, Part X - The College has adopted FASB Interpretation NO. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, an interpretation of FAS No. 109, Accounting for Income Taxes. No adjustments to the financial statements were required as a result of the implementation of FIN 48. The College has no current obligation for unrelated business income tax. The College's federal and state returns are potentially open for examinations for the years 2007-2010. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Schedule D, Part XI, Line 8 - Net Change in Annuity & Life Income Funds -$4,125,871, Unrealized Gain on Interest Rate Swap $260,159, Real estate rental expenses $548,409, Bookstore Cost of Good Sold $999,382. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Net change in Annuity & Life Income Funds -$4,125,871; scholarships -$29,572,953; Unrealized gain on Interest Rate Swap $260,159 SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Rental expenses $532,610; Bookstore Cost of Good Sold $999,381. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Scholarships $29,572,953 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 The College uses paper and broadcast media in solicitation of students. We publicize our nondiscriminatory policy in all printed brochures, magazines and application material and website information. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Carleton College participates in the Federal Student Financial Aid Program administered through the U.S. Department of Education. Carleton students receive funding from campus-based programs (Perkins, SEOG, and Federal Work Study) as well as Federal Pell Grants and Federal Student Loans. In addition, Carleton students receive funding via the Minnesota State Grant, Work-Study and SELF loan programs administered through the Minnesota Office of Higher Education. Europe (including Iceland and Greenland) 0 0 Investments 704000 East Asia and the Pacific 0 0 Program Services Studio Art in the South Pacific 411271 Europe (including Iceland and Greenland) 0 0 Program Services The Political Economy of Spain and he European Union 400237 East Asia and the Pacific 0 0 Program Services Chinese Studies in Tianjin 351713 Central America and the Caribbean 0 0 Investments 306000 Europe (including Iceland and Greenland) 0 0 Program Services Cross-cultural Psychology in Prague 297155 Europe (including Iceland and Greenland) 0 0 Program Services New Media: Theory and Practice 288893 East Asia and the Pacific 0 0 Program Services Comparative Welfare Systems and Social Safety Nets in Australia 248887 Europe (including Iceland and Greenland) 0 0 Program Services Economics in Cambridge 236069 Sub-Saharan Africa 0 0 Program Services Conservation and Development in Tanzania and Kenya 217654 Europe (including Iceland and Greenland) 0 0 Program Services French studies in Paris 211777 Europe (including Iceland and Greenland) 0 0 Program Services Spanish Studies in Madrid 209612 Europe (including Iceland and Greenland) 0 0 Program Services English Theather and Literature in London 167055 0 0 4050323 1 0 1 1 1 1 1 Student Scholarships 1250 29572953 0 Financial need SchI_P01_S00_L02 Schedule I, Part I, Line 2 Grants, scholarships, loans and work-study funds are awarded to students based on demonstrated financial need using nationally recognized needs analysis standards. X X X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 Steven G Poskanzer 152628 0 0 0 1937 0 15625 0 26545 0 196735 0 0 0 Frederick A Rogers 237702 0 0 0 30891 0 24400 0 3000 0 295993 0 0 0 Kristine A Cecil 102488 0 0 0 29165 0 13356 0 2042 0 147051 0 0 0 Beverly Nagel 210007 0 0 0 351 0 20950 0 0 0 231308 0 0 0 Gayle McJunkin 151941 0 0 0 351 0 15361 0 1500 0 169153 0 0 0 M H Wagner 174277 0 0 0 351 0 17450 0 0 0 192078 0 0 0 Paul Thiboutot 155665 0 0 0 351 0 16050 0 2000 0 174066 0 0 0 Jason Matz 267706 0 0 0 351 0 24500 0 0 0 292557 0 0 0 Andrew Christensen 171214 0 0 0 351 0 19000 0 0 0 190565 0 0 0 Seth N Greenberg 168720 0 0 0 293 0 15900 0 750 0 185663 0 0 0 Joel Weisberg 161062 0 0 0 293 0 13500 0 2800 0 177655 0 0 0 Joel Cooper 144640 0 0 0 351 0 14984 0 2100 0 162075 0 0 0 Robert A Oden 527061 0 0 0 29619 0 26950 0 60264 0 643894 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a President Oden received the following non taxable benefits: residence on campus with the fair rental value of $24,797 based on six months of residency; maid/cleaning for personal portion of residence of $8,870. President Poskanzer received the following non taxable benefits: residence on campus with the fair rental value of $20,664 based on five months of residency; maid/cleaning for personal portion of the residence of $3,696. Vice President Rogers received taxable income of $20,664 for housing. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The President's compensation id determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 16 of the College's peer institutions, as utilizing various salary surveys. The College uses the same consulting firm to review the following positions; Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and the Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions last took place in spring 2011. Minnesota Higher Education Facilities Authority Series 6D 410988525 60416HENO 2005-04-13 31460000 Retire Series 3L-1 and Series 4N 1 0 0 Minnesota Higher Education Facilities Authority Series 6T 410988525 60416HNH3 2008-12-04 19294728 Cassat and Memorial Hall construction 0 0 0 Minnesota Higher Education Facilities Authority Series 7D 410988525 60416HRZ9 2010-06-29 31962105 Weitz Center for Creativity rennovation and costruction 0 0 0 28123498 0 31460000 0 0 28123498 336501 0 0 3000000 0 0 2008 0 1 1 1 0 0 19294728 0 0 0 291550 0 0 19003178 0 0 2011 0 0 1 1 0 0 31962105 0 0 0 337859 0 0 0 31624246 0 2011 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 Morgan Stanley Capital Services LLC 2022 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 1 75000 Appraised value X 1 61750 Appraised value X 52000 Appraised value X 251 2848969 Market Value X 2 1750000 Appraised value X Volunteer expense 329 70027 Actual X Jewerly 1 75100 Appraised value 4 1 1 1 SchM_P01_S00_L30b Schedule M, Part I, Line 30b The College received jewerly that it must hold for three years from the date of the initial contribution. SchM_P01_S00_L32b Schedule M, Part I, Line 32b The College will retain an attorney for non cash real estate gifts and a broker for publicly traded securities, as needed. F990_P04_S00_L34 Form 990, Part IV, Line 34 Carleton is the beneficiary of charitable remainder trusts. The names, EIN, and addresses of the Trusts are not disclosed to protect the confidentiality of the contributor. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Management presented the 2010 Form 990 in its entirety to the Audit Committee of the Board of Trustees for their review prior to submitting it to the IRS. The 2010 Form 990 is also included on the Board of Trustees website and provided with the Board materials for all members reference. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Officers, trustees, and key employees are required to annually disclose interests that could give rise to conflict. Such interests include a list of family members, substantial business or investment holdings and other transactions or affiliations with businesses or other organizations. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1) The conflicting interest is fully disclosed; 2) the person with the conflict of interest is excluded from the discussion and approval of such transaction; 3) a competitive bid for comparable valuation exists; and 4)the Audit Committee of the Board of Trustees has determined that the transaction is in the best interest of the organization. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 16 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions look took place in Spring 2010. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Carleton's governing documents, Conflict of Interest policy, and Financial Statements are available on the organization's website and are available up request. F990_P07_S0A_L01a Form 990, Part VII, Section A, Line 1a President Poskanzer joined Carleton in August 2010. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net Realized Gain $101,181,166; Investment expenses $2,219,059, Net Change in Annuity & Life Income Funds -$4,125,871; Unrealized Gain on Interest Rate SWAP $260,159; Rental Expenses $532,610; Bookstore COGS $999,382 Trust Name Confidential One North College Street Northfield MN 55057 Charitable Remainder Trusts MN N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Application for Extension of Time to File an Exempt Organization Return was filed requesting a 6 month extension allowing time for management, audit committee and trustee review. The Internal Revenue Service approved this request and extended the due date to February 15, 2012.