2011-01-03T15:11:38-07:00 2010-06-30 990 2009-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 Grapevine Road Wenham MA 01984 Michael Ahearn 9788674013 2011-01-04 2009 2016-02-24 21:20:13Z R Judson Carlberg Gordon College 255 Grapevine Road Wenham MA 01984 77264541 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. 29 28 1966 0 0 0 7115773 6616969 56413176 56720874 -2188516 381667 29848 36455 61370281 63755965 13631788 14193524 0 0 30464269 29185809 30000 30000 2105001 22137550 21906592 66263607 65315925 -4893326 -1559960 111742115 109981117 54354207 53672156 57387908 56308961 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 41925850 14179237 42908781 Higher Education: Our largest program service is providing education and instruction to individuals giving them an opprotunity to earn a degree. Gordon College is the only nondenominational Christian liberal arts college in New England. It offers 37 majors and confers 3 separate undergraduate degrees; Bachelor of Arts, Bachelor of Science and Bachelor Music. Undergraduate enrollment of approximately 1500 students is drawn from 41 states and 27 countries. In 2009-10, Gordon College issued 375 degrees and had a faculty to student ratio of 11.7 with 70% of the students from outside Massachusetts. Of the 95 full-time faculty, 76% have earned doctorates. Gordon College students can take advantage of a wide variety of off-campus programs, both domestic and abroad. During 2009-10, over 122 students participated in off-campus programs. 638465 13287 681798 Higher Education: Gordon College has graduate programs in education and music education conferring degrees in Masters of Education in Curriculum and Instruction, Masters of Arts in Teaching and Masters of Music Education. In 2009-10, the total of unduplicated graduate students was 336. Gordon College conferred 57 masters degrees in 2010. 14950666 1000 13130295 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 1327 resident students in the fall semester and 1226 in the spring semester. 0 0 0 57514981 1 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 2397 0 1 1966 1 0 1 IT 0 0 0 1 1 0 0 0 0 0 29 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberlie Mather Controller 9788674048 Gordon College Wenham MA 01984 Dr Judith M Dean 0 X 0 0 0 Rev Dr Gregory Groover 0 X 0 0 0 Bronwyn Loring III 0 X 0 0 0 Harold L Myra 0 X 0 0 0 David C Schultz 0 X 0 0 0 Herman J Smith Jr 0 X 0 0 0 Dr James E Vander Mey 0 X 0 0 0 Suannah Young 0 X 0 0 0 Dr John M Gurley MD 0 X 0 0 0 Kurt Keilhacker 0 X 0 0 0 Steven Krook 0 X 0 0 0 Ava Memmen 0 X 0 0 0 Thomas L Phillips 0 X 0 0 0 Dale Fowler 0 X 0 0 0 Kirk Ware 0 X 0 0 0 Peter Herschend 0 X 0 0 0 Rev Raymond Lee 0 X 0 0 0 Rev Dr Roberto Miranda 0 X 0 0 0 Dr Seppo E Rapo 0 X 0 0 0 Bradford H Warner 0 X 0 0 0 Mary Shahian 0 X 0 0 0 Leonard J Peterson 0 X 0 0 0 David Bock 0 X 0 0 0 Daniel Cho 0 X 0 0 0 Lisa Forkner 0 X 0 0 0 Joseph Krivickas 0 X 0 0 0 Samuel Schreiner III 0 X 0 0 0 Aaron Shin 0 X 0 0 0 Carrie Tibbles MD 0 X 0 0 0 R Judson Carlberg 60 X X X 276274 0 49715 Dr Mark Sargent 60 X X 165222 0 30801 Daniel Tymann 60 X X 126679 0 24908 Michael Ahearn 60 X 75944 0 12330 Robert Grinnell 60 X 144149 0 28346 Stanley Gaede 60 X 108449 0 20907 Stephen MacLeod 60 X 102296 0 21936 Barry Loy 60 X 108155 0 35630 Bruce Herman 60 X 105231 0 20693 James MacDonald 60 X 126768 0 76902 1339167 0 322168 11 1 1 0 Custom Paving 19 Johnson St W Peabody MA 01960 Paving contractor 194470 Wellington Trust Company NA 75 State Street Boston MA 02109 Investment Management 117505 Winslow Technology Group LLC 75 Arlington St Suite 500 Boston MA 02116 Technology services 153461 Grant Thornton LLP 33960 Treasury Center Chicago IL 606943900 Auditing services 133583 4 0 0 58672 0 628892 5929405 175741 6616969 Student Tuition and Fees 611310 42832713 42832713 0 0 Residence Hall Revenue 611310 7260404 7260404 0 0 Board Plan Revenue 611310 2606624 2606624 0 0 Summer Programs 611310 734554 734554 0 0 Student Center Fees 611310 622857 622857 0 0 2663722 2663722 0 0 56720874 899823 0 0 899823 0 0 0 0 0 0 0 0 47005 0 0 0 47005 0 47005 0 0 47005 12935030 0 12673029 780157 262001 -780157 -518156 0 0 -518156 44840 58672 55390 -10550 0 0 -10550 0 0 0 0 0 0 0 0 0 0 0 0 0 63755965 56720874 0 418122 0 0 13124044 13124044 1069480 1069480 0 0 793507 0 764521 28986 122026 62695 5968 53363 21161370 16355376 3776065 1029929 527009 400836 98166 28007 5065813 3757269 1040806 267738 1516084 1125794 309320 80970 0 0 0 0 35532 0 35532 0 122218 0 122218 0 81078 81078 0 0 30000 30000 117505 0 117505 0 2160227 1326014 810604 23609 311474 227779 1230 82465 2212994 1745543 230206 237245 1308198 638803 654170 15225 0 0 0 0 4904389 4747279 127385 29725 1824080 1610997 131072 82011 0 0 0 0 47480 47480 0 0 27154 27154 0 0 0 0 0 0 5622875 5276535 313176 33164 198050 70520 123326 4204 Allocation of Physical Plant 0 3401131 -3406066 4935 Bond Expenses 235815 0 235815 0 Food Service 1333806 1333806 0 0 Special Events 264484 199461 5223 59800 Miscellaneous Expenses 626771 510702 113523 2546 472462 375205 86178 11079 65315925 57514981 5695943 2105001 422530 1398587 248341 1880153 2054809 1565820 782107 853986 7011 0 0 0 0 0 82019 76585 274060 355234 145058895 69869456 80006753 75189439 8166885 7793209 15452552 16653731 3145724 2989991 0 0 1099324 1224382 111742115 109981117 1924022 1447370 0 0 1465783 1430125 40710000 40058308 184253 249309 0 0 332816 215099 0 0 9737333 10271945 54354207 53672156 X 34617898 32066873 6937845 6976249 15832165 17265839 57387908 56308961 111742115 109981117 X 1 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 81078 81078 65243446 65324524 1000000 250000 0 0 0 0 1000000 1000000 2000000 3000000 0 0 81099 81078 162177 0 0 250000 250000 500000 750000 0 0 0 0 0 0 1 0 0 0 0 0 39897 1 1 0 1 26526253 913915 3072574 903807 546718 0 29062217 34168996 298841 -6886186 740711 314687 0 26526253 0.1941 0.8033 0.0026 0 0 5052 854072 859124 0 113522156 45132812 68389344 0 0 0 0 0 20086415 17820978 2265437 0 10591200 6915666 3675534 75189439 16603731 F 50000 F 16653731 Federal Perkins Loans 2989991 C 2989991 Other Assets 1224382 1224382 0 Conditional asset retirement obligation 512541 Fair value of interest rate swap agreements 5776845 Perkins Loan advances US Dept of Education 2629090 Annuity payment obligations 1353469 10271945 63755965 65315925 -1559960 2299595 0 0 0 -1818582 481013 -1078947 52842223 2299595 0 0 1082245 3381840 49460383 117505 14178077 14295582 63755965 53921170 0 0 780157 2120670 2900827 51020343 117505 14178077 14295582 65315925 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 62% of appropriated revenues this year were in scholarship awards. 26% of revenues supported general activities and physical plant. The remaining 12% 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_L00 Schedule D, Part X 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 2006 and prior are no longer subject to examination by taxing authorities. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Included in this figure is the change in value of interest rate swap agreements of (1,239,551) and the change in split interest agreements of (579,031). SchD_P12_S00_L02d Schedule D, Part XII, Line 2d This figure includes the FWS apportionment budget allocation of 253,678 included in income on the financial statements, the golf tournament expenses of 48,410 included in expense on the financial statements and the loss on disposal of a leasehold improvement of 780,157. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Included here are: scholarships and grants of 13,619,483 treated as tuition discount on the financial statements; FSEOG and FWS of 558,594 treated as pass through activity on the financial statements and not reflected in income. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d This figure includes: FWS apportionment budget allocation of 253,678 included in income on the financial statements; golf tournament expenses of 48,410 included in expense on the financial statements; change in fair value of split interest agreements of 579,031; change in fair value of interest rate swap agreements of 1,239,551. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Included here are: scholarships and grants of 13,619,483 treated as tuition discount on the financial statements; FSEOG and FWS of 558,594 treated as pass through activity on the financial statements and not reflected in expense. 1 1 0 We draw a substantial percentage of our students from New England and the north eastern states and 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. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 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 1 Europe (including Iceland and Greenland) 1 8 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 the program leaders and approved by the Global Education administrator. The program leaders pay local expenses. Expense documentation is submitted to the Controller's Office which is reviewed by the assistant controller or controller. Costs recorded at the time of the wires are primarily for tuition, room, board and incidentals of the students. We also offer International Seminar courses which are run for 2-4 week periods on a particular 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 for review. 586208 Central America and the Caribbean 0 0 Program Services We also offer International Seminar courses in Sustainable Tropical Agriculture which are run for 2-4 week periods. In country expenses are for food, lodging, transportation and entrance fees. Expenses must be documented and submitted to the Controller's Office for review. 10139 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. 16645 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. 11770 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. 29616 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. 15869 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. 1900 Europe (including Iceland and Greenland) 0 0 Grantmaking 138467 Central America and the Caribbean 0 0 Grantmaking 84000 South Asia 0 0 Grantmaking 62491 Middle East and North Africa 0 0 Grantmaking 7050 Sub-Saharan Africa 0 0 Grantmaking 71894 East Asia and the Pacific 0 0 Grantmaking 553110 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 48180 South America 0 0 Grantmaking 75288 Russia and the newly independent States 0 0 Grantmaking 29000 1 8 1741627 Scholarships and grants Europe (including Iceland and Greenland) 7 138467 credit to student bill 0 Scholarships and grants Central America and the Caribbean 4 84000 credit to student bill 0 Scholarships and grants South Asia 4 62491 credit to student bill 0 Scholarships and grants Middle East and North Africa 2 7050 credit to student bill 0 Scholarships and grants Sub-Saharan Africa 4 71894 credit to student bill 0 Scholarships and grants East Asia and the Pacific 26 553110 credit to student bill 0 Scholarships and grants North America (including Canada and Mexico, but not the United States) 3 48180 credit to student bill 0 Scholarships and grants South America 3 75288 credit to student bill 0 Scholarships and grants Russia and the newly independent States 1 29000 credit to student bill 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 as well as home equity and business value. The grant amount is carried forward from year to year unless there is a significant change in determined financial need. X X X X X X X 1 David Wellbourn Consulting on development strategy 0 0 30000 -30000 0 30000 -30000 All States Highlander Golf Tournament 103512 58672 44840 0 19190 20800 10400 0 5000 0 0 103512 58672 44840 0 19190 20800 10400 0 5000 55390 -10550 1 Scholarships and grants to Gordon College students 1385 12564290 0 Federal Work Study to students 430 272859 Federal SEOG to students 188 162460 0 Federal SMART grant to students 11 41000 0 Federal Academic Competitive Grant to students 74 66275 0 Dr. Marvin Wilson Award for teaching 1 834 0 Christian Vocational Institute Award 1 126 0 Jerusalem/Athens Forum essay contest 1 200 0 Federal TEACH grant to students 4 16000 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, with the addition of home equity and business value. 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 1 0 0 0 0 0 0 0 R Judson Carlberg 235132 0 0 0 41142 0 18534 0 31181 0 325989 0 0 Dr Mark Sargent 145903 0 0 0 19319 0 11174 0 19627 0 196023 0 0 0 James MacDonald 115833 0 0 0 10934 0 9240 0 67663 0 203670 0 0 0 Robert Grinnell 127496 0 0 0 16654 0 9161 0 19185 0 172496 0 0 0 Daniel Tymann 120781 0 0 0 5898 0 8398 0 16509 0 151586 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. One officer incurred spousal travel and all the travel was treated as nontaxable. 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. Health or social club dues or initiation fees: Two listed persons 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. The Vice President of Development is required to have a College provided membership to the Myopia Hunt Club. A portion of the value was treated as taxable compensation for personal use of a working condition fringe benefit. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Some officers and highly compensated employees participated in a 457(f) deferred compensation plan. Each participant must be judged by the executive committee of the board to have attained goals at the end of the fiscal year and funds must be available in the College budget in order for a deposit to be made for the participant in the 457(f) plan. After funds are deposited, there is a substantial risk of forfeiture for a 3 year period based on continued employment by the participant. After the 3 year period, funds are disbursed to the participant. Massachusetts Development Finance Agency 043431814 2009-10-15 30000000 Refunding of prior issuances 0 0 Massachusetts Development Finance Agency 043431814 2010-01-04 10000000 Refunding of prior issuances 0 0 30000000 0 0 0 469827 0 0 1 0 1 1 10000000 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 Bank of America Citizens Bank 26 0 0 0 0 1 1 Bank of America Citizens Bank 10 0 0 0 Janice Carlberg Spouse of the President 27713 Employment compensation 0 Arlene Sargent Spouse of Provost 22033 Employment compensaton 0 Jennifer Memmen Daughter of Trustee 40512 Employment compensaton 0 Barbara Grinnell Spouse of Vice President of Development 25650 Employment compensation 0 X 0 cost of donated property X 0 cost of donated property X 8 123141 market value on date received X Scientific equipment 1 43200 Fair market value X Rounds of golf 6 4220 Fair market value X Paris vacation apartment 1 5000 Fair market value X Major league baseball tickets 1 180 Fair market value 0 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 Lines 4 and 5: Revenues were not reported because the gift was not given a value as an appraisal was unavailable. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 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. 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 A 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 that 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 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 2010. 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. Gordon College Foundation 255 Grapevine Road Wenham MA 01984 222610484 Advise on land use MA 501(c)(3) 9 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0