2011-05-09T13:53:25-07:00 2010-06-30 990 2009-07-01 236002304 CORPORATION OF HAVERFORD COLLEGE CORP 6108961248 370 Lancaster Avenue Haverford PA 190411392 Kathi Ruffin 6108961249 2011-05-09 2009 2016-02-24 21:20:13Z HAVERFORD COLLEGE Stephen G Emerson President 370 Lancaster Avenue Haverford PA 190411392 206091332 0 X www.haverford.edu X 1833 PA Higher Education. Haverford College is committed to providing a liberal arts education in the broadest sense. 33 31 1943 1619 799674 0 14106232 14458844 61221888 63187282 -132735939 9803225 66479 99509 -57341340 87548860 15408909 17591742 0 0 48656352 45993168 57666 85014 4361687 31892664 29718616 96015591 93388540 -153356931 -5839680 511669463 543898843 129013002 147881034 382656461 396017809 Haverford College is committed to providing a liberal arts education in the broadest sense. This education, based on a rich academic curriculum at its core, is distinguished by a commitment to excellence and a concern for individual growth. Haverford has chosen to remain small and to foster close student/faculty relationships to achieve these objectives. The College's rigorous academic program is flexible in form and content to meet the needs of individual students, and rests on the assumption that the able students who come here will use their capacities fully. Haverford's faculty is noted for its strength in both scholarship and teaching, and its members expect to transmit to students their enthusiasm and high standards. The faculty members are teaching at an undergraduate college of arts and sciences by choice and they expect to learn, as well as to teach, in this close relationship with undergraduates. 0 0 59249381 17551742 48401889 Higher Education: Instruction (undergraduate liberal arts): academic support & research; 1283 student FTE; 143.1 faculty FTE; 291 degrees conferred in 09/10. The majority of the research awards are in the natural sciences. Federal funds support 25 grants including 8 ARRA funded grants, 10 by private foundations. The College supports the balance. Financial aid grants: 546 students (including 13 foreign students) received Haverford College grant aid totalling $16,686,647; 64 students received FSEOG grants totalling $188,242; 136 students received assistance for external internships totalling $607,343 12399796 0 14518474 Higher Education: Auxiliary enterprises (dormitories, dining center, faculty housing, conference program). The dorms housed 1158 students; 883 were on the board plan. The College provided 69 spaces for rent to faculty to foster educational interaction with students. 10898525 0 297611 Student Services Programs: Dean Registrar, Counseling, Career Development, Health Services, Athletics, Disability Services, Security and other miscellaneous services. 40000 40000 0 Higher Education: Grants paid from donor advised funds to other 501(c)(3) charities. (2 charities) 40000 40000 0 82587702 1 1 0 0 1 0 1 1 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1994 0 1 1943 1 1 1 0 0 0 0 0 0 0 0 0 0 0 33 31 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CA CO DC KY MA MD ME MI NH NJ NY OH OK OR PA SC WA WI X X G Richard Wynn 6108961248 370 Lancaster Ave Haverford PA 190411392 Charles G Beever 2 X 0 0 0 Jennifer C Boal 2 X 0 0 0 James L Boyer 2 X 0 0 0 Christopher E Dunne 2 X 0 0 0 Martha Brown Bryans 2 X 0 0 0 Stephen C Curwood 2 X 0 0 0 Jonathan Wood Evans 2 X 0 0 0 James W Friedman 2 X 0 0 0 Michael B Kim 2 X 0 0 0 Catherine P Koshland 2 X 0 0 0 Eugene A Ludwig 2 X 0 0 0 Howard W Lutnick 2 X 0 0 0 Irene E McHenry 2 X 0 0 0 John M Morse 2 X 0 0 0 Christopher K Norton 2 X 0 0 0 Carlos A Rodriguez Vidal 2 X 0 0 0 Christopher T Grant 2 X 0 0 0 Sheila K Sachs 2 X 0 0 0 Lawrence G Tint 2 X 0 0 0 Allan Richard White III 2 X 0 0 0 Peter Abramenko 2 X 0 0 0 Steven M Jaharis 2 X 0 0 0 Garry W Jenkins 2 X 0 0 0 Hunter R Rawlings III 2 X 0 0 0 Roger B Kafker 2 X 0 0 0 Jacqueline V Brady 2 X 0 0 0 Harold E Jordan 2 X 0 0 0 Dana Shanler Ladden 2 X 0 0 0 Elizabeth Enloe 2 X 0 0 0 Anjan K Chatterjee 2 X 0 0 0 Ann V Satterwaite 2 X 0 0 0 Elon E Spar 2 X 0 0 0 Stephen G Emerson 60 X X 385070 0 81446 G Richard Wynn 60 X 236758 0 40613 Linda Bell 60 X 197126 0 50248 Jess Lord 60 X 128700 0 30430 Michael Kiefer 60 X 246568 0 41725 Martha Denney 60 X 59038 0 15199 Kimberly Benston 60 X 169100 0 35602 Jerry Gollub 60 X 148807 0 22619 Ashok Gangadean 60 X 143400 0 33664 Linda Gerstein 60 X 147500 0 24706 Curtis Greene 60 X 164600 0 37029 Greg Kannerstein 60 X 160433 0 32473 2187100 0 445754 60 1 1 0 Dechert LLC P O Box 7247-6643 Philadelphia PA 191706643 Legal 203626 Charles A Higgins & Sons Inc PO Box 647 Media PA 19063 Construction 195903 Metropolitan Fire Protection 460 Parkway Broomall PA 19008 Fire Protection 174428 PriceWaterhouseCoopers LLP P O Box 7247-8001 Philadelphia PA 191708001 Auditing 168456 Joe Civitella Inc 724 Lorraine Ave Ardmore PA 19003 Construction 149700 18 0 0 0 0 3189782 11269062 635923 14458844 Tuition and fees 611310 48401889 48401889 0 0 Auxiliary enterprises 900099 14518474 13098114 507670 912690 266919 179461 0 87458 63187282 4416789 0 292004 4124785 0 0 0 0 0 0 0 0 25981 0 0 0 25981 0 25981 0 0 25981 99810176 22854180 96237975 21039945 3572201 1814235 5386436 0 0 5386436 0 0 0 0 0 0 0 0 0 0 0 0 0 1307388 1264552 42836 0 0 42836 Student events 900099 25950 25950 0 0 Quaker Library income 900099 4742 4742 0 0 0 0 0 0 30692 87548860 61710156 799674 10580186 40000 40000 16967708 16967708 584034 584034 0 0 1689999 898593 380432 410974 32897572 25253665 6007343 1636564 3125097 2375074 562517 187506 5795611 4404664 1043210 347737 2484889 1888516 447280 149093 0 0 0 0 237711 13023 220236 4452 153456 10900 142556 0 0 0 0 0 85014 85014 1027422 0 1027422 0 4362171 2760666 1431451 170054 112904 82968 29924 12 1631340 883603 567217 180520 687808 468718 175369 43721 0 0 0 0 3333041 2600371 579707 152963 1623170 1331354 91116 200700 0 0 0 0 0 0 0 0 2754728 2199486 366460 188782 0 0 0 0 6802577 6351651 297611 153315 414937 352697 41493 20747 Study away program expenses 1693034 1693034 0 0 Food Services 1633096 1307411 273885 51800 Minor equipment, auto 1300518 971455 323002 6061 Dues, subscriptions, memberships 1209215 1132427 66886 9902 Reallocate Facilities and Security 0 7274196 -7635966 361770 741488 741488 0 0 93388540 82587702 6439151 4361687 0 0 22365307 21653515 8807505 7073491 1174662 946504 489502 473287 0 0 0 0 371602 376716 1928608 565289 215452158 92806727 125479965 122645431 75713687 96385379 268479330 272935927 2377415 2265336 0 0 4481880 18577968 511669463 543898843 4111769 4416572 0 2622580 2619686 103445059 117962900 0 0 0 0 0 0 0 0 18833594 22881876 129013002 147881034 X 147746567 149218524 86914166 91400363 147995728 155398922 382656461 396017809 511669463 543898843 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 125000 15000 19796 302478 1 1 44229 4331335 0 0 X X X 0 1 628924 414048 628923 414049 0 336085820 5451420 33178648 3402225 14473951 1339414 355500298 521307851 10637065 -170364959 4977583 19515424 1001130 336085820 0.39 0.61 0 0 0 0 4481255 4481255 0 175904031 72137799 103766232 0 0 0 0 0 19846961 14953921 4893040 0 15219911 5715007 9504904 122645431 0 0 Common trust and similar funds 105470815 F Hedge funds 34995772 F Venture capital and private equity funds 117916994 F Real estate funds 14223054 F Miscellaneous 329292 F 272935927 Student loans receivable 949555 C Employee mortgages 1315781 C 2265336 Funds held in trust by others 2731581 Bond proceeds held by trustee 15415460 Accrued income receivable 429927 Other 1000 18577968 Interest rate swaption liability 11914674 Planned giving liabilities 8826810 Advances from US Government 747542 Refundable advance 614882 Asbestos ARO liability 598791 Accrued postretirement liability 179177 22881876 87548860 93388540 -5839680 20138658 0 1027422 0 -1965051 19201029 13361349 90488372 20138658 0 0 -324257 19814401 70673971 0 16874889 16874889 87548860 77127023 0 0 0 -15194095 -15194095 92321118 1027422 40000 1067422 93388540 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Special collections of art and historical treasures serve to advance scholarship and to further teaching, research and service. Special collections range from Quaker collections to college archives to rare manuscripts to fine art assets. The Quaker collection consists of manuscripts, as well as numerous photographs, artworks, artifacts, furniture and films. The College archives include records, publications and artifacts produced by offices, committees, and student groups. Rare books and manuscript collections strengths include American and English literature, history and politics. Today, the collection of fine art encompasses three areas: material in support of the College curricula, material that documents the College's history and material that documents the history of Quakerism. SchD_P04_S00_L01b Schedule D, Part IV, Line 1b The College is trustee of the William Maul Measey Trust. The College is entitled to 60% of the gross income of the Trust and includes 60% of the Trust assets in its financial statements and Form 990. The remaining 40% of the gross income is distributed to certain secondary schools for student financial aid. The 40% of Trust principal at June 30, 2010 was $18,471,375 . The 40% of Trust income distributable to the schools is reported in Lines 1c-f. The secondary schools that currently receive trust income are George School, Westtown School, Scattergood Friends School, and Olney Friends School. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College spends a prudent amount of its endowment annually to support the educational mission of the College in accordance with donor restrictions and internal designations. SchD_P10_S00_L00 Schedule D, Part X The College evaluated how uncertain tax positions taken or expected to be taken in a tax return should be recognized, measured, presented and disclosed in the financial statments. No adjustments to the financial statement were required as a result of the evaluation. The College will continue to monitor and evaluate its unrelated business income activity. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in contributions receivable $(1,786,050); Loss on bond refinancing $(219,000); Grants paid from donor advised fund $40,000; Rounding $(1). SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Change in contributions receivable $(1,786,050); Indirect cost recovery $362,242; Bookstore expensitures $1,264,552; Loss on bond refinancing $(219,000); Bookstore internal rent $54,000; Rounding $(1). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Financial aid $16,874,889 SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Financial aid $(16,874,889); Indirect cost recovery $362,242; Bookstore expenditures $1,264,552; Bookstore internal rent $54,000 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Grants paid from donor advised fund $40,000 to outside organizations 1 1 1 Such a policy is published in our catalog and other admissions literature. Also, the policy is published in newspapers or on the internet when advertising for employment. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 Financial aid or assistance from a governmental agency: FWS $170,917; FSEOG $147,014; Pell $735,083; Pell-Smart $60,000; Pell -ACG $51,850; PHEAA - FWS $14,771; PHEAA - IAG $40,768. TOTAL $1,220,403. 1 1 South Asia 0 0 Program Services Scholarships 184601 Europe (including Iceland and Greenland) 0 0 Program Services Scholarships 143441 Sub-Saharan Africa 0 0 Program Services Scholarships 77379 East Asia and the Pacific 0 0 Program Services Scholarships 79789 South America 0 0 Program Services Scholarships 45187 Middle East and North Africa 0 0 Program Services Scholarships 53637 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad program fees 484406 Central America and the Caribbean 0 0 Program Services Study abroad program fees 5025 Europe (including Iceland and Greenland) 0 0 Fundraising Five Haverford employees attended the International Council in Paris. The primary purpose was to foster greater awareness of Haverford College internationally and promote greater international emphasis in academic and outreach areas of the College. 17947 East Asia and the Pacific 0 0 Fundraising Employee travel to meet with alumni, current parents and heads of schools for our Admissions office. 15330 South Asia 0 0 Fundraising Employee travel meet with alums who can help further long-term and mutually-enriching relationships 5042 Central America and the Caribbean 0 0 Unrelated Trade or Business Endowment foreign passive investments 0 0 0 1111784 Scholarships to foreign students South Asia 4 184601 Cash payment 0 FMV Scholarships for foreign students Sub-Saharan Africa 2 77379 Cash payment 0 FMV Scholarships to foreign students Europe (including Iceland and Greenland) 3 143441 Cash payment 0 FMV Scholarships to foreign students East Asia and the Pacific 2 79789 Cash payment 0 FMV Scholarships to foreign students South America 1 45187 Cash payment 0 FMV Scholarships to foreign students Middle East and North Africa 1 53637 Cash payment 0 FMV SchF_P01_S00_L02 Schedule F, Part I, Line 2 The procedures to monitor College scholarships (grant aid) awarded to nonresident aliens are the same procedures as scholarships awarded to citizens from the United States. Haverford College scholarships are based solely on need. Haverford does not have any grant based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, fees, room and board , and other billed charges. X X X X X X 1 Grenzebach Glier and Associates Inc Campaign consultant 0 0 85014 -85014 0 85014 -85014 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MT NC ND NH NJ NM NY OH OK OR PA RI SD TN UT VA WA WI WV 1 Horace Mann School 231 West 246th Street Riverdale NY 10471 131740455 501(c)3 25000 0 FMV General support pursuant to the terms of a donor advised fund agreement 1 0 Scholarships for Haverford College students 533 16102613 0 Cost FSEOG grants for Haverford College students 64 188242 0 Cost Internships for Haverford College Students 136 676853 0 Cost SchI_P01_S00_L02 Schedule I, Part I, Line 2 Haverford College scholarships are based solely on need. Haverford does not have any grant aid based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College, and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, fees, room and board, and other billed charges. Supplemenal Education Opportunity grants are awarded based on the family contribution. Eligibility is determined by the FAFSA and the regulations determined by the U.S. Department of Education that students who receive Pell Grants be provided FSEOG funds first. Other verification forms may be required if the student is selected including the Verification Statement, parent and student tax returns and non-tax filer statements. FSEOG awards are credited directly to the students' account for tuition, fees, room and board, and other billed charges. FSEOG awards are audited annually by the College's outside auditors in conjunction with the A133 federal funds audit. Student internships are awarded through an application and review process. The internship awards are paid directly to the student. This assistance enables the students to engage in unpaid internships in a variety of domestic and international locations. Some of the areas of studies include Humanities, Global Citizenship and Entrepreneurship. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Stephen G Emerson 371000 0 0 0 14070 0 0 0 81446 0 466516 0 0 0 Michael Kiefer 246568 0 0 0 0 0 0 0 41728 0 288296 0 0 0 G Richard Wynn 236758 0 0 0 0 0 0 0 40613 0 277371 0 0 0 Linda Bell 197126 0 0 0 0 0 0 0 50249 0 247375 0 0 0 Greg Kannerstein 160433 0 0 0 0 0 0 0 32473 0 192906 0 0 0 Jess Lord 128700 0 0 0 0 0 0 0 0 0 128700 0 0 0 Kimberly Benston 169100 0 0 0 0 0 0 0 35602 0 204702 0 0 0 Curtis Greene 164600 0 0 0 0 0 0 0 37029 0 201629 0 0 0 Jerry Gollub 148807 0 0 0 0 0 0 0 22618 0 171425 0 0 0 Linda Gerstein 147500 0 0 0 0 0 0 0 24706 0 172206 0 0 0 Martha Denney 59038 0 0 0 0 0 0 0 15199 0 74237 0 0 0 Ashok Gangadean 143400 0 0 0 0 0 0 0 33664 0 177064 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a TRAVEL FOR COMPANIONS: Stephen Emerson, President, agreed in his employment contract to spousal travel. Haverford College will reimburse Stephen Emerson for reasonable and customary travel expenses when his spouse travels with him on official College business. Travel expenses are reviewed for business purpose and reimbursed according to an accountable plan. Stephen Emerson's spouse is a professor at Haverford College. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: Stephen Emerson, President, resides on Haverford College campus free of rent. Linda Bell, Provost, resides on Haverford College campus free of rent. Neither travel for companions nor residence for personal use represents taxable compensation to the listed individuals. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 President Stephen Emerson has an arrangement with the College, allowable under the IRS Code, that permits him to tax defer more of his earnings than the standard amount he would be allowed to do under the College's 403(b) plan. This additional tax deferral was done as a 457(f) Deferred Compensation Agreement. Delaware County Authority 231973437 246003LH8 2008-05-08 61000000 Cap improvements to College facilities and redemption 2003 and 2004 Bonds 0 0 Delaware County Authority 231973437 246003LX3 2010-04-29 44944290 New dorm and partial refund 2008 Bonds 0 0 61000000 0 0 0 651393 0 6798560 2009 1 0 1 1 44944290 0 0 15415460 594243 0 0 2012 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 UBS 2 0 0 1 0 0 0 0 0 1 Michael Keifer Home mortgage X 500000 473287 0 0 1 473287 Jennifer Punt Spouse of officer 116415 Employee compensation 0 Carol Solomon Souse of officer 66000 Employee compensation 0 CapGen Financial Group LP Eugene Ludwig, Board of Managers, is a director of CapGen 1714143 Investment in partnership (capital call) 0 X 13 34211 FMV X 158 Input at $1 X 90 591790 FMV X 2 501 Subject Matter Expert X 3 741 Cost X Quaker materials 22 22 Input at $1 X Electric low speed vehicle 1 8500 FMV 0 0 1 0 F990_P01_S00_L05 Form 990, Part I, Line 5 The number of empolyees includes regular faculty, administration and staff, student and temporary summer employees. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Howard Lutnick, manager, had a business relationship with the following managers: Elon Spar, Lawrence Tint, Stephen Curwood and Catherine Koshland. Catherine Koshland's business relationship ended December 2009. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Corporation of Haverford College has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers for at least six consecutive years. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Corporation of Haverford College ("the Corporation") has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers ("the Board") for at least six consecutive years. The Corporation formally elects members of the Board, including those nominated by it, by the Board and by the Alumni Association. The Corporation makes any amendments to the bylaws. The Corporation seeks by advice and example to strengthen and enrich Haverford's heritage as a Quaker educational institution. The Board has responsibility for all aspects of the operation and management of the College. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The College's Audit Committee reviewed the Form 990 before it was filed. The Form 990 was sent to all Board members before being filed, noting that it was reviewed and approved by the Audit Committee. The Form 990 will be available on the College's website. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each year a questionnaire is handed out and sent electronically to Board members, officers and key employees. The President's office tracks and ensures compliance with completing and submitting the conflict of interest questionnaire. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined after an annual review by the Board's Committee on Presidential Compensation and Review. The review along with private college executive compensation surveys help determine the President's salary. The President reports to the Board relating to the annual process for determining the compensation of other officers (VP Finance and Administration, VP Institutional Advancement, Provost, Dean of the College and Dean of Admissions). The Committee on Presidential Compensation and Review reports on both of these procedures to the Board in executive session. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College's financial statements and conflict of interest policy are available to the general public through our website, Guidestar's website and upon request. Currently, the College does not publish our governing documents, however these are available upon request. SchG_P01_S00_L02b Schedule G, Part I, Line 2b Grenzebach Glier & Associates, Inc provides professional fundraising consulting services for and on behalf of the College. It does not engage in any direct solicitations of contributions for and on behalf of the College and therefore has no custody or control on any College contributions. SchK_P02_S00_L05 Schedule K, Part II, Line 5 Issuance costs of $651,393 paid from the 2008 Bond proceeds consisted of: Costs of issuance $322,856; Underwriter's discount $132,980; Liquidity fee (1 yr in advance) $185,557