2011-03-14T11:56:39-05:00 2010-06-30 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2009-07-01 250965601 WASHINGTON & JEFFERSON COLLEGE WASH 7242236009 60 S LINCOLN STREET WASHINGTON PA 15301 MR DENNIS MCMASTER 7242236009 2011-03-14 1 Susan M Kirsch 4122613644 2009 2016-02-24 21:20:13Z DR TORI HARING-SMITH 60 S LINCOLN STREET WASHINGTON PA 15301 120339744 0 X WWW.WASHJEFF.EDU X 1781 PA PROMOTE EDUCATION, THE DEVELOPMENT OF SKILLS, KNOWLEDGE, AND PERSONAL QUALITIES. 40 38 1284 665 116464 0 10083370 7904456 59361486 63519052 3675095 526519 280352 339751 73400303 72289778 19305087 19705209 0 21853686 23169873 0 1725438 23346158 26823887 64504931 69698969 8895372 2590809 211179357 254285296 41651280 77185177 169528077 177100119 TO GRADUATE MEN AND WOMEN OF UNCOMMON INTEGRITY, COMPETENCE, AND MATURITY, WHO ARE EFFECTIVE LIFELONG LEARNERS AND RESPONSIBLE CITIZENS, AND WHO ARE PREPARED TO CONTRIBUTE SUBSTANTIALLY TO THE WORLD IN WHICH THEY LIVE. 0 0 56673272 19705209 63383794 FOUNDED IN 1781, W&j IS ONE OF THE OLDEST COLLEGES IN AMERICA. IT IS A FOUR-YEAR, PRIVATE, LIBERAL ARTS COLLEGE DEDICATED TO ITS STUDENTS. IT IS NATIONALLY RECOGNIZED AS AN EXCELLENT RESIDENTIAL, STUDENT-CENTERED UNDERGRADUATE INSTITUTION. 88% OF STUDENTS WHO APPLY TO LAW SCHOOLS, AND 77% WHO APPLY TO PROFESSIONAL HEALTH SCHOOLS ARE ACCEPTED. WITHIN SIX MONTHS OF COMMENCEMENT, 91% ENTER GRADUATE SCHOOL OR FIND EMPLOYMENT IN THEIR FIELD. STATISTICS - UNDERGRADUATE STUDENTS: 1505 FULL-TIME EQUIVALENT STUDENTS AND, 319 GRADUATES. 56673272 1 1 0 1 0 0 1 0 1 1 1 0 1 0 1 0 1 0 1 1 0 1 1 1 1 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 1996 0 1284 1 1 1 0 0 0 0 1 1 0 0 0 0 40 38 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X T SZEJKOASSOCIATE VP OF FINANCE 7242236009 60 S LINCOLN STREET WASHINGTON PA 15301 JERRELL ANGELL 0.50 X 0 0 0 JOHN W BEAN 0.50 X 0 0 0 ROBERT M BEAVERS JR 0.50 X 0 0 0 JAMES W CAMERON 0.50 X 0 0 0 GARY L CHURGIN 0.50 X 0 0 0 RICHARD T CLARK 0.50 X 0 0 0 JONATHAN M CONRAD 0.50 X 0 0 0 PATRICK A CORRENTYMD 0.50 X 0 0 0 SAMUEL J DAVISESQ 0.50 X 0 0 0 MCCLELLAN A DUBOIS 0.50 X 0 0 0 LYN M DYSTERPHD 0.50 X 0 0 0 LAUREN M FARRELL 0.50 X 0 0 0 WALTER FLAMENBAUM MD 0.50 X 0 0 0 JOHN E FRAZIER II MD 0.50 X 0 0 0 JAMES F GISMONDI 0.50 X 0 0 0 GRETCHEN B GOCKLEY 0.50 X 0 0 0 MELISSA A HARTESQ 0.50 X 0 0 0 ELIZABETH HURWITZ-SCHWAB 0.50 X 0 0 0 THOMAS J LEYDIG 0.50 X 0 0 0 WILLIAM N MACARTNEY III 0.50 X 0 0 0 CHARLES F MARCY 0.50 X 0 0 0 JAMES J MCCAFFREY 0.50 X 0 0 0 ALBERT G NICKEL 0.50 X 0 0 0 CHONG S PARK MD 0.50 X 0 0 0 WILLIAM S PLATT 0.50 X 0 0 0 AMICHAEL PRATTESQ 0.50 X 0 0 0 EMILES PRENTICE IIIESQ 0.50 X 0 0 0 DIANA L REEDESQ 0.50 X 0 0 0 DAVID A ROSS 0.50 X 0 0 0 LOUISE K ROSS 0.50 X 0 0 0 DAVID A STEINBERG 0.50 X 0 0 0 LEANNE TRACHOK 0.50 X 0 0 0 CRAIG A VARGAESQ 0.50 X 0 0 0 DRALBERTO W VILAR 0.00 X 0 0 0 CHARLES T NASON 5.00 X X 0 0 0 KENNETH R MELANI MD 2.50 X X 0 0 0 BARBARA R DEWITT 2.50 X X 0 0 0 B JOHN PENDLETON JR ESQ 2.50 X X 0 0 0 WILLIAM M STOUT 2.50 X X 0 0 0 JAMES J BARNESESQ 2.50 X X 0 0 0 DRTORI HARING-SMITH 55.00 X X 289270 0 171392 DENNIS MCMASTER 55.00 X 154086 0 27113 ALTON NEWELL 55.00 X 157594 0 25802 MICHAEL GRZESIAK 55.00 X 144616 0 20598 TIMOTHY MURPHY 40.00 X 139066 0 24350 JAN CZECHOWSKI 55.00 X 134380 0 14231 JOHN GREGOR 40.00 X 105798 0 20585 KAREN CRENSHAW 35.00 X 97073 0 18863 TOM SZEJKO 35.00 X 96786 0 54217 BYRON MCCRAE 55.00 X 94233 0 19483 1124810 0 304071 8 0 1 0 RYCON CONSTRUCTION 2525 LIBERTY AVENUE PITTSBURGH PA 15222 CONSTRUCTION SRVCS SCIENCE BUILDING 20237588 PARKHURST DINING SERVICE PO BOX 644091 PITTSBURGH PA 152644090 FOOD SERVICE 3333981 ARAMARK MANAGEMENT SERVICES NEWARK NJ 071880170 FACILITY MANAGEMENT 3054265 THE FIRST MARBLEHEAD CORPORATION 800 BOYLSTON STREET BOSTON MA 02199 STUDENT LOAN COLLECTIONS 694057 EINHORN YAFFEE PRESCOTT PO BOX 617 ALBANY NY 122010617 ARCHITECT./ENGINEER.CONSULTANT 483994 16 7838 1919732 5976886 2122642 7904456 TUITION AND FEES 900099 48976557 48976557 STUDENT SERVICES 900099 13463161 13463161 PROGRAMS 900099 1079334 944076 135258 63519052 1029006 -18794 1047800 26293 29709 -3416 -3416 -3416 46766113 47268600 -502487 -502487 -502487 59084 7838 28400 30684 30684 21300 5655 15645 15645 1014440 717602 296838 296838 72289778 63383794 116464 885064 270000 270000 19013906 19013906 421303 421303 1617661 841195 396864 379602 15498692 12585137 2224919 688636 1193476 914208 197678 81590 3497344 2312065 974794 210485 1362700 1103987 182267 76446 644461 3204 640669 588 17165 17165 62636 62636 54173 54173 220549 220549 3230502 3230502 183090 183090 695901 332386 222429 141086 126754 126754 2525312 579403 1945909 1258671 1030375 176734 51562 123559 21342 52663 49554 3059643 3059643 5170796 4912256 258540 447336 447336 FOOD SERVICE 2834292 2834292 BAD DEBT EXPENSE 1245789 1245789 ATHLETIC & GAME EXPENSE 926785 926785 STUDENT SERVICE EXPENSE 926128 926128 NON-CAPITAL SMALL EQUIP 688365 314933 370877 2555 2381980 2267755 70891 43334 69698969 56673272 11300259 1725438 8101309 29161926 3078326 1969539 2196352 1962611 341866 260156 1470205 1793705 326626 203690 1380053 2069553 197467264 57436583 95062588 140030681 68871359 38138254 30011007 38146051 339666 549130 211179357 254285296 5427749 5264156 3015258 1837755 27388206 64680337 5820067 5402929 41651280 77185177 X 81479447 99807363 45898920 32440105 42149710 44852651 169528077 177100119 211179357 254285296 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 54173 54173 69634796 69688969 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 75619 82811 69709 54173 282312 250000 250000 250000 250000 1000000 1500000 X X 0 75605633 4265777 8070543 2009438 2264228 83668287 101091273 1163346 -22017494 4631492 75605633 0.12700 0.53610 0.33690 1 0 10617135 10617135 148876983 34655733 114221250 24702155 17451596 7250559 13270991 5329254 7941737 140030681 DIVERSIFIED INFLATION HEDGE 7251357 F SECUR.HELD IN TRUST BY OTHERS 5312631 F CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 471247 F INVESTMENTS - REAL ESTATE 1172193 C INT'L GROWTH EQUITY FUND 7306955 F INVEST. IN OTHER HEDGE FUNDS 13135518 F INVESTMENT IN LIMITED P-SHIP 3366772 F COMMON STOCK 129378 F 38146051 ACCRUED RETIREE HEALTHCARE BENEFITS 2583739 FED.GOV ADVANCES FOR STUDENT LOANS 1838638 LIABILITIES UNDER LIFE INTEREST AGREEM. 708887 DEPOSITS HELD IN CUSTODY FOR OTHERS 271665 5402929 72289778 69698969 2590809 6972705 -1991472 4981233 7572042 60608640 6972705 -19435209 -12462504 73071144 -781366 -781366 72289778 51045126 781366 781366 50263760 19435209 19435209 69698969 Part III, Line 1a: THE COLLEGE'S COLLECTIONS INCLUDE PAINTINGS, PRINTS, PHOTOGRAPHS, SCULPTURES, DRAWINGS AND WATERCOLORS, AND DECORATIVE ARTS. THESE ITEMS ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENDITURES IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS WITH A VALUE UNDER $5,000 ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. Part V, Line 4: Description of Intended Use of Endowment Funds: CAPITAL IMPROVEMENTS, OPERATIONAL SUPPORT, AND STUDENT FINANCIAL AID, SUBJECT TO DONOR SPECIFICATIONS STATED IN ORIGINAL GIFT AGREEMENTS. Part X: Description of Uncertain Tax Positions Under FIN 48: THE COLLEGE FOLLOWS THE PROVISIONS OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. THE COLLEGE'S STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2010 AND 2009 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE COLLEGE HAS NO UNRECOGNIZED TAX BENEFITS. Part XI, Line 8 - Other Adjustments: MERGER OF WASHINGTON & JEFFERSON DEVELOPMENT CORPORATION UNRESTRICTED FUNDS: -1991472. PART XII, LINE 2D: STUDENT FINANCIAL AID: $ (19,435,209) PART XII, LINE 4B: RENTAL EXPENSES: $ (29,709) PART XII, LINE 4B: DIRECT FUNDRAISING EXPENSE: $ (34,055) PART XII, LINE 4B: COSTS OF GOODS SOLD FROM BOOKSTORE: $ (717,602) TOTAL PART XII, LINE 4B: $(791,366) PART XIII, LINE 2D: RENTAL EXPENSES: $ 29,709 PART XIII, LINE 2D: DIRECT FUNDRAISING EXPENSE: $ 34,055 PART XIII, LINE 2D: COSTS OF GOODS SOLD FROM BOOKSTORE: $ 717,602 TOTAL PART XIII LINE 2D: $ 791,366 PART XIII, LINE 4B: STUDENT FINANCIAL AID: $ 19,435,209 1 1 1 WASHINGTON AND JEFFERSON COLLEGE ACTIVELY RECRUITS STUDENTS IN 40 STATES AND WASHINGTON, D.C. IT IS THE OPINION OF THE COLLEGE THAT IT WOULD BE COST PROHIBITIVE TO PUBLICIZE THE COLLEGE'S NONDISCRIMINATION POLICY (AS TO RACE, COLOR, SEX, HANDICAP, AGE, OR NATIONAL ORIGIN) THROUGH NEWSPAPER OR BROADCAST MEDIA IN SUCH A LARGE GEOGRAPHICAL AREA. THE COLLEGE'S RACIAL NONDISCRIMINATION POLICY (AND OTHER AFOREMENTIONED NONDISCRIMINATORY POLICIES) ARE PUBLISHED IN THE COLLEGE'S CATALOGUES, PROGRAM PROFILES, FINANCIAL AID BROCHURE, APPLICATION FORM, COLLEGE PUBLICATIONS AND OTHER WRITTEN COMMUNICATIONS WHICH ARE ROUTINELY PROVIDED TO ALL PROSPECTIVE STUDENTS. THIS POLICY IS ALSO POSTED ON THE COLLEGE'S INTERNET WEBSITE. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 IN THE COURSE OF OUR BUSINESS AS A COLLEGE, THE INSTITUTION RECEIVES FEDERAL GRANTS. 1 0 EUROPE 0 0 STUDY ABROAD STUDENT AID 474749 NORTH AMERICA 0 0 STUDY ABROAD STUDENT AID 7727 EAST ASIA AND PACIFIC 0 0 STUDY ABROAD STUDENT AID 42573 CENTRAL AMERICA & CARIBBEAN 0 0 STUDY ABROAD STUDENT AID 2200 SOUTH AMERICA GRANTS TO RECIPIENTS LOCATED IN REGION STUDENT AID 23125 EAST ASIA AND THE PACIFIC GRANTS TO RECIPIENTS LOCATED IN REGION STUDENT AID 66375 MIDDLE EAST AND NORTH AFRICA GRANTS TO RECIPIENTS LOCATED IN REGION STUDENT AID 23250 EUROPE GRANTS TO RECIPIENTS LOCATED IN REGION STUDENT AID 287688 SUB-SAHARAN AFRICA GRANTS TO RECIPIENTS LOCATED IN REGION STUDENT AID 20865 CENTRAL AMERICA & CARIBBEAN INVESTMENTS N/A 0 0 948552 STUDENT AID SOUTH AMERICA 4 23125 N/A N/A N/A STUDENT AID EAST ASIA AND THE PACIFIC 11 66375 N/A N/A N/A STUDENT AID EUROPE 42 287688 N/A N/A N/A STUDENT AID SUB-SAHARAN AFRICA 2 20865 N/A N/A N/A STUDENT AID MIDDLE EAST AND NORTH AFRICA 3 23250 N/A N/A N/A GOLF OUTING 31934 7838 24096 1776 6375 4483 4373 B-BALL GOLF OUTING 10660 10660 300 1206 300 2 24328 24328 1804 2495 2820 2468 66922 7838 59084 300 3580 10076 7603 6841 28400 30684 21300 5000 655 0 21300 5000 655 5655 15645 0 0 0 0 0 0 1 CITY OF WASHINGTON PA C/O 655 WMAIDEN ST WASHINGTON PA 15301 256000886 170(b)(i)(a)(v) 190000 COMMUNITY SUPPORT CITY OF WASHINGTON PA C/O 655 WMAIDEN ST WASHINGTON PA 15301 256000886 170(b)(i)(a)(v) 80000 COMMUNITY SUPPORT 1 0 SCHOLARSHIPS AND STUDENT AID 1336 18428985 STUDENT ASSISTANCE FOR ACADEMIC SUPPORT 29 584921 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE GRANT FUNDS AWARDED TO STUDENTS ARE APPLIED DIRECTLY TO THEIR STUDENT ACCOUNTS. X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 DRTORI HARING-SMITH 274128 0 0 0 15142 0 133103 0 38289 0 460662 0 0 0 DENNIS MCMASTER 149934 0 0 0 4152 0 12000 0 15113 0 181199 0 0 0 ALTON NEWELL 153151 0 0 0 4443 0 12000 0 13802 0 183396 0 0 0 MICHAEL GRZESIAK 142452 0 0 0 2164 0 11200 0 9398 0 165214 0 0 0 TIMOTHY MURPHY 138841 0 0 0 225 0 11212 0 13138 0 163416 0 0 0 WASHINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 251437320 93859RAT4 2010-03-22 62084003 REFUNDING, CAPITAL PROJECTS 0 0 WASHINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 251437320 2009-09-01 4500000 CAPITAL PROJECTS 0 0 63375000 60607135 555812 924056 2010 1 0 1 1 4500000 44200 4455800 2015 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 1 0 0 0 0 R SANDMEYER JR STOCK GIFT BUY BACK X 426250 130078 0 1 1 RODNEY SANDMEYER STOCK GIFT BUY BACK X 426250 130078 0 1 1 260156 MARTHINSEN & SALVITTI INSURANCE GROUP FORMER TRUSTEE'S FAMILY MEMBER HAS OWNERSHIP INTEREST IN INSURANCE PROVIDER 276144 INSURANCE 0 X 1 0 N/A X 16 2062132 FMV X PLATES, PRINTS, CLOCK 1 510 FMV X CHANDELIER 1 60000 FMV X DIVING EQUIP 5 0 N/A X PLATES & FILM STRIPS 1 0 N/A X BEVERAGES 2 0 N/A 1 0 1 1 Third Party Use: Part I, Line 32b: THE COLLEGE USES AN OUTSIDE BROKER TO SELL SECURITIES RECEIVED AS CONTRIBUTIONS. Non Reporting of Revenue: Part I, Line 33: GIFTS IN KIND THAT ARE LESS THAN $5,000 ARE NOT REPORTED AS REVENUE, DUE TO LACK OF MATERIALITY. Form 990, Part VI, Section A, line 4 WASHINGTON & JEFFERSON DEVELOPMENT CORPORATION MERGED INTO THE COLLEGE ON MARCH 22, 2010. Form 990, Part VI, Section A, line 7a ALUMNI TRUSTEES ARE ELECTED BY THE ALUMNI EXECUTIVE COUNCIL. Form 990, Part VI, Section B, line 11 FORM 990 IS REVIEWED BY THE ASSOCIATE VP FOR BUSINESS AND THE CHIEF FINANCIAL OFFICER, HIGHLIGHTS OF THE FORM ARE THEN REVIEWED WITH THE PRESIDENT OF THE COLLEGE. THE FORM IS AVAILABLE TO THE BOARD ONLINE, FOR THEIR REVIEW, AND IS PRESENTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. Form 990, Part VI, Section B, line 12c THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE SENIOR STAFF OF THE COLLEGE AND BY LEGAL COUNSEL. ANNUAL DISCLOSURE STATEMENTS ARE SENT OUT TO BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES. Form 990, Part VI, Section B, line 15 -CEO: THE EMPLOYMENT CONTRACT INCLUDED A SALARY/BENEFITS REVIEW PERFORMED BY AN UNRELATED THIRD PARTY, SOLENTURE, ON BEHALF OF THE BOARD OF TRUSTEES, AND THE CONTRACT WAS APPROVED BY AN INDEPENDENT BOARD. THE PROCESS INCLUDED AN ANALYSIS OF COMPARABLE SALARY AND BENEFIT DATA. THE BOARD APPROVAL WAS DOCUMENTED IN THE MINUTES. -VP FOR BUSINESS AND FINANCE: THE COLLEGE SUBCONTRACTED TO AN UNRELATED CONSULTANT GROUP, WITT KIEFFER, FOR A SALARY AND BENEFITS REVIEW, INCLUDING AN ANALYSIS OF COMPARABLE DATA, AND ASSISTANCE WITH THE HIRING PROCESS. THE BOARD AND THE SENIOR STAFF ALSO PARTICIPATED IN THE PROCESS. Form 990, Part VI, Section C, line 19 WASHINGTON & JEFFERSON COLLEGE MAKES ITS GOVERNANCE DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST, TYPICALLY VIA EMAIL. FORM 990, PART XI, QUESTION 2C OVERSIGHT OF FINANCIAL STATEMENT AUDIT THE AUDIT COMMITTEE CHARGE IS TO MEET AND DISCUSS DIRECTLY WITH THE EXTERNAL AUDITORS ISSUES CONFRONTING THE COLLEGE ON AN ANNUAL BASIS AS PART OF THE PLANNING PHASE OF THE AUDIT. UPON COMPLETION OF THE AUDIT THE EXTERNAL AUDITORS REPORT DIRECTLY TO THE COMMITTEE ON RESULTS OF THE AUDIT. AFTER THIS REVIEW THE COMMITTEE APPROVES THE FINANCIAL STATEMENTS AS PRESENTED BY THE EXTERNAL AUDITORS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VII: EMERITUS TRUSTEES: THE FOLLOWING INDIVIDUALS SERVE AS EMERITUS TRUSTEES OF THE WASHINGTON & JEFFERSON COLLEGE WITH NO VOTING RIGHTS: EDWINA W. CAMERON, DR. WALTER COOPER, DR. JOHN R. ECHEMENT, DR. ROBERT M. ELLIOTT, RICHARD Y. HADDAD, DR. JOSEPH A. HARDY, SR., JAMES H. KNEPSHIELD, M.D., J. ROBERT MAXWELL, ESQ., JOHN L. S. NORTHROP, H. THOMAS PATTON, RONALD V. PELLEGRINI, M.D. (ENT 02/21/09), JAMES L. PHILLIPS, M.D., ANICA D. RAWNSLEY, E. RONALD SALVITTI, M.D., RONALD P. SANDMEYER, SR., DOROTHY A. SERVIS, ESQ., ROBERT B. SHUST, F. LEO WRIGHT, ESQ.