2026-05-14T13:27:47-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 042103567 ENDICOTT COLLEGE ENDI 9782322384 376 HALE STREET BEVERLY MA 01915 ANTHONY FERULLO CFO 9782322384 2026-05-13 1 0 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z BRYAN CAIN PHD 376 HALE STREET BEVERLY MA 01915 251054577 0 X WWW.ENDICOTT.EDU X 1939 MA UNDERGRADUATE AND GRADUATE EDUCATION. (SEE SCHEDULE O)ENDICOTT INTEGRATES PROFESSIONAL AND LIBERAL ARTS WITH EXPERIENTIAL LEARNING INCLUDING INTERNSHIPS. 26 24 2430 220 12415625 120799 4601983 6419930 203290875 215733872 3889498 2915136 615266 1446479 212397622 226515417 49116064 53638390 0 0 83042349 91608112 0 0 2749209 65203348 70184497 197361761 215430999 15035861 11084418 535358364 551769836 141805655 133381635 393552709 418388201 X ENDICOTT COLLEGE OFFERS STUDENTS A VIBRANT ACADEMIC ENVIRONMENT THAT REMAINS TRUE TO ITS FOUNDING PRINCIPLE OF INTEGRATING PROFESSIONAL AND LIBERAL ARTS WITH EXPERIENTIAL LEARNING. FOR MORE INFORMATION SEE SCHEDULE O. 0 0 151218659 53471723 199481499 *EDUCATION AND AUXILIARY* SEE SCHEDULE O. *EDUCATION AND AUXILIARY*ENDICOTT'S UNDERGRADUATE COLLEGE OFFERS BACHELOR OF FINE ARTS, BACHELOR OF ART, AND BACHELOR OF SCIENCE DEGREES. TRADITIONAL UNDERGRADUATE ENROLLMENT FOR FALL 2024 WAS APPROXIMATELY 3,100 STUDENTS. ENDICOTT'S GRADUATE AND VAN LOAN PROFESSIONAL STUDIES PROGRAMS GRANT ASSOCIATE IN ARTS, ASSOCIATE IN SCIENCE, BACHELOR OF ARTS, BACHELOR OF SCIENCE, MASTER OF ARTS, MASTER OF EDUCATION, MASTER OF SCIENCE, MASTER OF BUSINESS ADMINISTRATION, DOCTOR OF EDUCATION, DOCTOR OF NURSING PRACTICE, AND DOCTOR OF PHILOSOPHY DEGREES. ENROLLMENT IN THE GRADUATE AND VAN LOAN PROFESSIONAL STUDIES PROGRAMS WAS APPROXIMATELY 1,200 STUDENTS AS OF FALL 2024, INCLUDING PROGRAMS IN BEVERLY, MASSACHUSETTS, MADRID, SPAIN, SWITZERLAND, AND ONLINE. ENDICOTT COLLEGE'S ACADEMIC OFFERINGS PROVIDE UNDERGRADUATES WITH AN ENRICHING AND CHALLENGING EDUCATIONAL EXPERIENCE. STUDENTS SELECT FROM A BROAD ARRAY OF MAJOR AND MINOR PROGRAM OFFERINGS WHICH ARE AUGMENTED BY COURSEWORK IN THE LIBERAL ARTS AND REQUIRED EXPERIENTIAL LEARNING OPPORTUNITIES WITHIN THEIR PROFESSIONAL AREAS OF STUDY.OF THE TOTAL UNDERGRADUATE ENROLLMENT, NEARLY 86% LIVE ON CAMPUS. THE COLLEGE OFFERS A LARGE VARIETY OF RESIDENCE HALL OPTIONS, RANGING FROM TRADITIONAL TO APARTMENT-STYLE HOUSING. FACILITIES CONSIST OF CONVERTED MANSIONS, SMALL HOUSES, TOWNHOUSES, AND LARGER RESIDENCE HALLS. FOR THE FALL 2024 SEMESTER, 2,861 STUDENTS WERE RESIDENTIAL STUDENTS, INCLUDING APPOXIMATELY 166 STUDENTS WHO WERE STUDYING ABROAD AND EXPECTED BACK IN THE SPRING SEMESTER. ALL RESIDENT STUDENTS ON CAMPUS MUST ENROLL IN ONE OF FOUR MEAL PLANS OFFERED DURING THE ACADEMIC YEAR. DINING OPTIONS INCLUDE A LARGE DINING HALL, TWO CAFES, AND A LODGE. 7726648 0 0 *ACADEMIC SUPPORT* SEE SCHEDULE O. *ACADEMIC SUPPORT*ENDICOTT OFFERS STUDENTS VARIOUS PROGRAMS AND FACILITIES TO ENHANCE AND ENCOURAGE THEIR ACTIVE PARTICIPATION IN THE INTELLECTUAL LIFE OF THE COLLEGE AND PROMOTE THEIR SUCCESSFUL PERFORMANCE IN THE CLASSROOM. THIS IS ACCOMPLISHED THROUGH STATE-OF-THE-ART ACADEMIC TECHNOLOGY, THE DIANE M. HALLE LIBRARY, ACADEMIC ADMINISTRATION, ACADEMIC RESOURCES AND STUDENT SUCCESS, AND THE SINGLE PARENT PROGRAM. 22059742 0 513286 *STUDENT SERVICES* SEE SCHEDULE O. *STUDENT SERVICES* STUDENT SERVICES SUPPORT THE ACADEMIC AND PERSONAL DEVELOPMENT OF EACH STUDENT THROUGH A VARIETY OF OFFICES AND PROGRAMS, INCLUDING STUDENT ACTIVITIES, PERSONAL COUNSELING, HEALTH, COMMUNITY SERVICE, AND ATHLETIC PROGRAMS. EXPERIENCE BEYOND THE CLASSROOM SETTING AFFORDS STUDENTS WITH OPPORTUNITIES TO GAIN A GREATER UNDERSTANDING AND APPRECIATION OF SELF, OTHERS, AND THE WORLD AROUND THEM. THE STUDENT AFFAIRS DIVISION IS DESIGNED TO COMPLEMENT AND SUPPLEMENT THE ACADEMIC EXPERIENCE OF EVERY STUDENT. OTHER FUNCTIONS INCLUDED IN STUDENT SERVICES INCLUDE THE ADMISSIONS, FINANCIAL AID, REGISTRAR, AND CAREER DEVELOPMENT. BOOKSTORE AND VENDING REVENUE IS CONSIDERED RELATED TO STUDENT SERVICES. 7641002 166667 17234564 CONFERENCE AND EDUCATION SERVICES/OTHER 7641002 166667 17234564 188646051 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 290 0 1 2430 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ANTHONY FERULLO 9782322384 376 HALE STREET BEVERLY MA 019152096 STEVEN R DISALVO PRESIDENT (ON LEAVE AS OF 04/2025) 60.00 0.00 X X 622413 0 160634 BRYAN CAIN - SVP STUD & EXT ENG/INTERIM PRES (AS OF 04/25) 40.00 0.00 X X 284023 0 49127 THOMAS J ALEXANDER TRUSTEE 2.00 0.00 X 0 0 0 SAMUEL CABOT III TRUSTEE 2.00 0.00 X 0 0 0 NANCY KEEFE CLARKE TRUSTEE 2.00 0.00 X 0 0 0 TIM COLLINS TRUSTEE 2.00 0.00 X 0 0 0 JAMES DEMERS TRUSTEE 2.00 0.00 X 0 0 0 ANAITA DUA TRUSTEE 2.00 0.00 X 0 0 0 DR HARRY DUMAY TRUSTEE 2.00 0.00 X 0 0 0 F SAMUEL EBERTS III TRUSTEE 2.00 0.00 X 0 0 0 PETER FLAHERTY TRUSTEE 2.00 0.00 X 0 0 0 NANCY FRATES TRUSTEE 2.00 0.00 X 0 0 0 MELISSA HEMPSTEAD TRUSTEE - CHAIR 2.00 0.00 X X 0 0 0 GALEN HO TRUSTEE 2.00 0.00 X 0 0 0 MARGARET JANES TRUSTEE 2.00 0.00 X 0 0 0 MICHELLE LABOSSIERE TRUSTEE - TREASURER 2.00 0.00 X X 0 0 0 JOHN MACNEIL TRUSTEE - CLERK 2.00 0.00 X X 0 0 0 MARSHA MCDONOUGH TRUSTEE (THRU 03/2025) 2.00 0.00 X 0 0 0 LINDA MILLEY TRUSTEE 2.00 0.00 X 0 0 0 JON PAYSON TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL ROCKETT TRUSTEE (THRU 03/2025) 2.00 0.00 X 0 0 0 JEFF SCOLA TRUSTEE (AS OF 10/2024) 2.00 0.00 X 0 0 0 JOANNA SCHULMAN TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH SCHWARTZ TRUSTEE 2.00 0.00 X X 0 0 0 DOUGLAS SEYMOUR TRUSTEE - VICE CHAIR 2.00 0.00 X X 0 0 0 MICHAEL SHEEHAN TRUSTEE 2.00 0.00 X 0 0 0 GLEN THORNBOROUGH TRUSTEE 2.00 0.00 X 0 0 0 RAVI VIG TRUSTEE 2.00 0.00 X 0 0 0 SHEILA WALSH TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY FERULLO VP OF FINANCE & COO 60.00 0.00 X 370454 0 107626 SARA QUAY PROVOST 50.00 0.00 X 294885 0 56222 MEGHAN MONACO VP ADMISSIONS & FINANCIAL AID 50.00 0.00 X 234899 0 30046 AMY SMITH DEAN, SCHOOL OF NURSING 40.00 0.00 X 262369 0 48740 PATRICK HEWETT VP INSTITUTIONAL ADVANCEMENT 40.00 0.00 X 246014 0 56098 KATE WHITE VP HUMAN RESOURCES 40.00 0.00 X 195945 0 45884 BRANDI JOHNSON VP AND CHIEF DIVERSITY OFFICER 40.00 0.00 X 206956 0 56238 RICHARD GAGNON ASSOCIATE VP, FACILITIES OPERATIONS 40.00 0.00 X 206196 0 95331 2924154 0 705946 201 0 1 0 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 152626170 FOOD SERVICES 10558889 WINDOVER CONSTRUCTION INC 66 CHERRY HILL DRIVE BEVERLY MA 019151054 CONSTRUCTION 3002776 CONSTRUCTION MANAGEMENT & BUILDERS INC 85 SAM FONZO DRIVE BEVERLY MA 01915 CONSTRUCTION 2684381 BAYSTATE SERVICES INC 480 WILDWOOD AVENUE WOBURN MA 01801 CONSTRUCTION 1942123 GS ASSOCIATES INC 190 STATE STREET 2ND FLOOR NEWBURYPORT MA 01950 CONSTRUCTION 1440902 47 113388 902106 5404436 2008364 6419930 TUITION AND FEES 611710 151069305 151069305 RESIDENCE AND DINING 721000 48412194 48412194 CONFERENCE/EDUC/AUX. SERVICES 611710 13773829 1369110 12404719 PARKING FINES 900099 658707 658707 NURSING SCHOOL REVENUE 611710 500000 500000 1319837 1319837 215733872 2006222 10906 1995316 25231925 24323011 908914 908914 908914 167151 113388 216149 -48998 -48998 PRIOR DEFERRED REVENUE 900099 1049188 1049188 BOOKSTORE COMMISSIONS 900099 441658 441658 4631 4631 1495477 226515417 204824630 12415625 2855232 166667 166667 53471723 53471723 2168497 765295 1312579 90623 177295 177295 68628844 58296471 9090385 1241988 3571151 3033498 473025 64628 12128930 10302866 1660751 165313 4933395 4190650 653464 89281 580221 23971 556250 211111 211111 711392 711392 8046004 6669518 1183166 193320 646756 248020 363552 35184 5017797 3792806 919641 305350 477729 14547 463182 5342673 5035633 307000 40 8775696 8232219 421198 122279 3668405 3457643 210762 11008947 10376446 632501 2772000 2478573 293427 FOOD SERVICE 11172657 10661269 373222 138166 SERVICE/SUPP. CONTRACTS 8630711 5307622 3291866 31223 PRINTING/PUBLICATIONS 662682 400060 147754 114868 2459716 1543259 759511 156946 215430999 188646051 24035739 2749209 23127013 11599787 3546986 4082762 6639749 7434410 1354503 1354503 498513524 139401445 346394124 359112079 112582047 120906632 39607453 43596507 2106489 3683156 535358364 551769836 12842238 10416321 12280887 9586979 60899120 58277000 53465421 52436837 2317989 2664498 141805655 133381635 X 366046560 385068755 27506149 33319446 393552709 418388201 535358364 551769836 X 11084418 13962780 -211706 X 0 1 X 1 1 1 X 7272559 9689363 9794195 4601983 6419930 37778030 7272559 9689363 9794195 4601983 6419930 37778030 559699 37218331 3323560 1157453 2724229 2631564 1995317 11832123 1181064 653982 468464 1593825 3897335 30855 52945 107013 100058 167151 458022 53965510 841090553 0.68970 0.69270 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2020 AMOUNT: $ 30,855. 2021 AMOUNT: $ 52,945. 2022 AMOUNT: $ 107,013. 2023 AMOUNT: $ 100,058. 2024 AMOUNT: $ 167,151. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 146734426 6868128 14871693 653333 4311430 163509484 130663793 6624086 14257713 613525 4197640 146734426 119158127 4963113 11005403 303197 4159653 130663793 129111878 1487216 -11049832 391135 119158127 97315820 2341045 29836330 381317 129111878 0.86980 0.09560 0.03460 0 0 10884133 10884133 441518073 126219335 315298738 43129462 12329670 30799792 2981856 852440 2129416 359112079 HEDGE FUNDS 18657000 F PRIVATE EQUITY 24939507 F 43596507 LIABILITY - INTEREST RATE SWAPS 1721448 REFUNDABLE ADVANCES - US GOV'T 943050 2664498 X 186083376 13962780 13962780 172120596 711392 53683429 54394821 226515417 161247884 0 161247884 711392 53471723 54183115 215430999 PART III, LINE 4: COLLECTIONS OF ART ENDICOTT COLLEGE DOES NOT HAVE A SEPARATE ART COLLECTION REPORTED IN THE FINANCIAL STATEMENT. HOWEVER, ENDICOTT'S HALLE LIBRARY HOUSES COLLECTIONS OF BOOKS, PERIODICALS, AND OTHER REFERENCE MATERIALS. THE ENDICOTT COLLEGE ARCHIVES ARE ALSO A PART OF HALLE LIBRARY. THE PURPOSE OF THE ARCHIVES IS TO PRESERVE AND INTERPRET THE HISTORY OF THE COLLEGE. THIS IS ACCOMPLISHED THROUGH A PERMANENT COLLECTION THAT INCLUDES, BUT IS NOT LIMITED TO, ARCHIVAL DOCUMENTS THAT CHRONICLE THE DEVELOPMENT OF THE COLLEGE, PHOTOGRAPHS, EPHEMERA, ORAL HISTORY, AND ARTIFACTS. THE ARCHIVES ENHANCE THE APPRECIATION AND UNDERSTANDING OF ENDICOTT COLLEGE'S HERITAGE, PRESERVING DOCUMENTATION OF THE EVOLUTION AND GROWTH OF THE INSTITUTION AND THE INFLUENCE THE INSTITUTION HAS WITHIN THE EXTENDED COMMUNITY. PART V, LINE 2: ENDOWMENT FUNDS ENDICOTT COLLEGE HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2025 AUDITED FINANCIAL STATEMENTS CLASSIFY THE NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, ENDICOTT COLLEGE HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT, RESPECTIVELY. PART V, LINE 4: ENDICOTT'S ENDOWMENT INCLUDES 151 FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS, ACADEMIC PROGRAMS, AND ASSISTANCE TO STUDENTS WITH DISABILITIES. FUNDS RESTRICTED TO SCHOLARSHIPS ARE AWARDED BASED ON A COMBINATION OF FINANCIAL NEED AND OTHER DONOR-SPECIFIED CRITERIA. APPROXIMATELY 87% OF THE ENDOWMENT IS UNRESTRICTED. INCOME AND DIVIDENDS ARE REINVESTED, AND APPROPRIATIONS (DRAWS) ARE MADE ONLY FOR DONOR-STIPULATED PURPOSES; THAT AMOUNT IS TYPICALLY LESS THAN 1% OF THE ENDOWMENT. GENERALLY, THE MAXIMUM DRAW IS NO GREATER THAN 5% OF THE AVERAGE FAIR VALUE OF EACH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT. IN 2025 THE AMOUNT APPROPRIATED WAS $4,964,763 ENDICOTT EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO MAINTAIN ITS PURCHASING POWER BY GROWING AT A RATE GREATER THAN PLANNED PAYOUTS. THE COLLEGE TRANSFERS OPERATING FUNDS ON AN ANNUAL BASIS IN ORDER TO HELP BUILD THE ENDOWMENT. IN FISCAL 2025 A TOTAL OF APPROXIMATELY $5,000,000 WAS ADDED. PART X, LINE 2: UNCERTAIN TAX POSITIONS THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGES IN LIABILITY FOR INTEREST SWAP 211,706. SCHOLARSHIPS 53,471,723. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 53,471,723. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ENDICOTT'S STATEMENTS ON NONDISCRIMINATION CAN BE FOUND IN ALL MAJOR DOCUMENTS OF THE COLLEGE INCLUDING: THE UNDERGRADUATE AND GRADUATE CATALOGS, EMPLOYEE HANDBOOK, STUDENT HANDBOOK, INTERNSHIP DIRECTORY, FACTS AND FIGURES, ANNUAL REPORT, SOUNDINGS MAGAZINE AND MANY OTHER DOCUMENTS PUBLISHED BY THE COLLEGE. THE STATEMENT IS ALSO LOCATED ON THE COLLEGE WEBSITE AND IN MANY ONLINE PUBLICATIONS. SCHEDULE E, PART I, LINE 6 ENDICOTT COLLEGE PARTICIPATES IN FEDERAL STUDENT AID PROGRAMS AS WELL AS MASSACHUSETTS STUDENT AID PROGRAMS. EUROPE (INCLUDING ICELAND & GREENLAND) 1 3 PROGRAM SERVICES STUDY ABROAD 5816096 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 62535 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 15478293 1 3 0 0 1 3 21356924 0 21356924 1 0 1 1 1 0 PART I, LINE 3: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. CAR SHOW 131218 25770 105448 17937 47672 32261 ENDICOTT GOLF TOURN. 100132 53018 47114 62426 0 6664 1 49189 34600 14589 42717 0 6472 280539 113388 167151 123080 47672 45397 216149 -48998 1 CITY OF BEVERLY 191 CABOT STREET BEVERLY MA 01915 115 166667 0 GENERAL SUPPORT 1 0 SCHOLARSHIPS 3097 53471723 PART I, LINE 2: MONITORING THE USE OF GRANT FUNDS IN THE U.S. IN RECOGNITION OF THE CLOSE RELATIONSHIP BETWEEN THE COLLEGE AND THE CITY OF BEVERLY, AN ANNUAL GIFT IS PRESENTED TO THE MAYOR OF THE CITY TO ASSIST IN THE FURTHERANCE OF THE CITY OF BEVERLY'S INITIATIVES. ENDICOTT COLLEGE PROVIDES SCHOLARSHIPS AND GRANT AID TO ELIGIBLE STUDENTS THROUGH ITS OWN RESOURCES, AS WELL AS FEDERAL AND STATE PROGRAMS. TO QUALIFY FOR SCHOLARSHIPS OR GRANT AID, A STUDENT MUST BE ENROLLED IN AN APPROVED PROGRAM AND BE IN GOOD ACADEMIC STANDING. MOST OF THE AID PROGRAMS REQUIRE THAT STUDENTS DEMONSTRATE FINANCIAL NEED. ENDICOTT AWARDS ARE MADE ON A FUNDS-AVAILABLE BASIS TO DESERVING STUDENTS. THE COLLEGE MAKES EVERY EFFORT TO ENSURE THAT A QUALITY EDUCATION IS AVAILABLE TO ALL STUDENTS, REGARDLESS OF INCOME LEVEL, RACE, RELIGION, DISABILITY, NATIONAL OR ETHNIC ORIGIN, AGE OR GENDER. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 STEVEN R DISALVO PRESIDENT (ON LEAVE AS OF 04/2025) 548258 0 54600 0 19555 0 86424 0 74210 0 783047 0 0 0 ANTHONY FERULLO VP OF FINANCE & COO 333082 0 15000 0 22372 0 26781 0 80845 0 478080 0 0 0 SARA QUAY PROVOST 267049 0 15000 0 12836 0 22309 0 33913 0 351107 0 0 0 BRYAN CAIN - SVP STUD & EXT ENG/INTERIM PRES (AS OF 04/25) 255803 0 15000 0 13220 0 20289 0 28838 0 333150 0 0 0 AMY SMITH DEAN, SCHOOL OF NURSING 256745 0 0 0 5624 0 15992 0 32748 0 311109 0 0 0 PATRICK HEWETT VP INSTITUTIONAL ADVANCEMENT 222506 0 10000 0 13508 0 18794 0 37304 0 302112 0 0 0 RICHARD GAGNON ASSOCIATE VP, FACILITIES OPERATIONS 192787 0 5000 0 8409 0 15706 0 79625 0 301527 0 0 0 MEGHAN MONACO VP ADMISSIONS & FINANCIAL AID 210676 0 15000 0 9223 0 17854 0 12192 0 264945 0 0 0 BRANDI JOHNSON VP AND CHIEF DIVERSITY OFFICER 179655 0 10000 0 17301 0 15356 0 40882 0 263194 0 0 0 KATE WHITE VP HUMAN RESOURCES 185793 0 10000 0 152 0 15074 0 30810 0 241829 0 0 0 PART I, LINE 1A FIRST-CLASS TRAVEL: IN 2024, THE PRESIDENT TRAVELED FIRST CLASS PER THE TERMS OF HIS CONTRACT. HOUSING ALLOWANCE: STEVEN DISALVO LIVED IN ON-CAMPUS HOUSING FOR THE CONVENIENCE OF ENDICOTT COLLEGE AND THE HOUSING IS THEREFORE NOT TAXABLE. THE RESIDENCE IS USED EXTENSIVELY FOR COLLEGE FUNCTIONS. THE VALUE OF THE HOUSING ALLOWANCE IS INCLUDED IN SCHEDULE J, PART II UNDER COLUMN (D) NONTAXABLE BENEFITS. SOCIAL DUES ENDICOTT COLLEGE PAYS CLUB MEMBERSHIP DUES ON BEHALF OF THE PRESIDENT. THE MEMBERSHIP DUES ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III). TRAVEL FOR COMPANIONS IN 2024, THE PRESIDENT'S SPOUSE TRAVELED WITH HIM FOR BUSINESS PURPOSES. THIS TRAVEL WAS NOT INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 4B THE PRESIDENT PARTICIPATES IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN. AMOUNTS ACCRUED UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). PART I, LINE 7 NON-FIXED PAYMENTS PURSUANT TO TERMS OF HIS EMPLOYMENT AGREEMENT, THE PRESIDENT MAY RECEIVE A BONUS SUBJECT TO THE APPROVAL OF A COMMITTEE OF THE BOARD OF TRUSTEES. CERTAIN LISTED INDIVIDUALS RECEIVED A ONE TIME BONUS RELATED TO THE IMPLEMENTATION OF A PROJECT APPROVED BY MANAGEMENT AND THE BOARD OF TRUSTEES. A MASS DEV FIN AGENCY SERIES 2015 043431814 000000000 2015-03-31 18000000 CONSTRUCTION 0 0 0 B MASS DEV FIN AGENCY SERIES 2017 043431814 000000000 2017-03-15 32625000 REFINANCE DEBT 0 0 0 C MASS DEV FIN AGENCY SERIES 2017B 043431815 000000000 2017-12-06 25900000 CONSTRUCTION 0 0 0 D MASS DEV FIN AGENCY SERIES 2017C 043431814 000000000 2017-12-06 8893000 REFINANCE DEBT 0 0 0 A 4337213 18000000 18000000 2015 0 0 1 1 B 10170000 32625000 176038 32448962 2017 0 1 1 1 C 3083935 25900000 196618 25703382 2019 0 0 0 1 D 2236006 8893000 68832 8824618 2017 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SAMUEL ALEXANDER FAM MEMBER-TRUSTEE 177295 FACULTYCOMP 0 X 10 2008364 FMV 0 0 0 0 SCHEDULE M, PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). FORM 990, PART III, LINE 1: ORGANIZATION'S MISSION SHAPED BY A BOLD AND ENTREPRENEURIAL SPIRIT, ENDICOTT COLLEGE OFFERS STUDENTS A VIBRANT ACADEMIC ENVIRONMENT THAT REMAINS TRUE TO ITS FOUNDING PRINCIPLE OF INTEGRATING PROFESSIONAL AND LIBERAL ARTS WITH EXPERIENTIAL LEARNING, INCLUDING INTERNSHIP OPPORTUNITIES ACROSS DISCIPLINES. THE COLLEGE FOSTERS A SPIRIT OF EXCELLENCE BY CREATING A CHALLENGING YET SUPPORTIVE ENVIRONMENT IN WHICH STUDENTS ARE ENCOURAGED TO TAKE INTELLECTUAL RISKS, PURSUE SCHOLARLY AND CREATIVE INTERESTS, CONTRIBUTE TO THE COMMUNITY, AND EXPLORE DIVERSE CAREER PATHS. ENDICOTT IS COMMITTED TO SUPPORTING THE PERSONAL AND PROFESSIONAL DEVELOPMENT OF ITS STUDENTS, PREPARING THEM TO ASSUME MEANINGFUL ROLES WITHIN THE GREATER COMMUNITY BOTH DOMESTICALLY AND INTERNATIONALLY. FORM 990, PART III, LINE 4: PROGRAM SERVICE ACCOMPLISHMENTS ENDICOTT COLLEGE WAS RANKED IN THE TOP TIER OF NORTHERN REGIONAL UNIVERSITIES AT #39 OF 165 INSTITUTIONS IN THE 2025 U.S. NEWS AND WORLD REPORT BEST COLLEGES RANKINGS. THE COLLEGE WAS RECOGNIZED AS A LEADER IN SEVERAL OTHER CATEGORIES PUBLISHED BY U.S. NEWS, INCLUDING BEST UNDERGRADUATE TEACHING PROGRAMS, BEST VALUE SCHOOLS, BEST COLLEGES FOR VETERANS, UNDERGRADUATE ENGINEERING AND NURSING PROGRAMS, TOP PERFORMERS ON SOCIAL MOBILITY, MOST INNOVATIVE, AND RANKED NATIONALLY FOR CO-OP/INTERNSHIP PROGRAMS. IN FISCAL 2025, THE OFFICE OF ADMISSION RECEIVED 5,522 APPLICATIONS FOR TRADITIONAL UNDERGRADUATE STUDENTS IN FALL 2024, ACCEPTED 71% OF THE APPLICANTS, AND ENROLLED 21% OF THOSE ACCEPTED FOR ADMISSION. THE COLLEGE AWARDED 6 ASSOCIATE DEGREES, 758 BACHELOR DEGREES, 461 MASTERS' DEGREES, 47 GRAD LEVEL CERTIFICATES AND 22 DOCTORAL DEGREES IN ACADEMIC YEAR 2024-2025. OUR GRADUATES HAD A FIRST-TIME PASS RATE ON EXTERNAL EXAMINATIONS AS FOLLOWS: 100% FOR ATHLETIC TRAINING, 100% FOR UNDERGRADUATE NURSING, AND A FINAL PASS RATE OF 86% FOR GRADUATE NURSING AND 96% FOR THE TITLE II EDUCATOR'S EXAMS. EXTERNAL LICENSURE FOR THESE PROGRAMS IS ASSESSED BY THE NATA BOARD OF CERTIFICATION LICENSURE, NATIONAL COUNCIL LICENSURE EXAMINATION, AMERICAN ASSOCIATION OF NURSE PRACTITIONERS AND THE MASSACHUSETTS DEPARTMENT OF EDUCATION LICENSURE RESPECTIVELY. ENDICOTT'S RETENTION RATE OF FRESHMAN ENTERING 2024 AND RETURNING 2025 WAS 86%. THE SIX YEAR GRADUATION RATE FOR FRESHMAN ENTERING 2019 WAS 73%. OF THE 2024 GRADUATES WHO RESPONDED TO CAREER SURVEYS, 99% REPORTED THAT THEY WERE EITHER EMPLOYED, CONTINUING EDUCATION, VOLUNTEERING, SERVING IN THE MILITARY, OR SELF-EMPLOYED WITHIN 12 MONTHS OF GRADUATION. 72% WERE EMPLOYED FULL-TIME. 89% OF THOSE WERE IN EMPLOYMENT RELATED TO THEIR MAJOR, AND 55% FOUND EMPLOYMENT THROUGH A FORMER INTERNSHIP SITE OR CONTACT. COMMUNITY SERVICE IS EMBRACED AT ENDICOTT, WITH 41% OF THE ENDICOTT STUDENT BODY PARTICIPATING IN COMMUNITY SERVICE, FOR A TOTAL OF 14,914 COMMUNITY SERVICE HOURS PERFORMED BY 1,284 STUDENTS. THE LATEST PUBLISHED NUMBERS (AS OF 2023) OF STATE AND NATIONAL AVERAGE ARE 39% AND 23%, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE TAX RETURN INFORMATION IS GATHERED FROM THE FINANCE OFFICE AND USED TO POPULATE THE FORM 990 IN CONJUNCTION WITH GRANT THORNTON ADVISORS LLC, INDEPENDENT TAX CONSULTANT. ONCE THE DRAFT TAX RETURN IS FULLY ANALYZED AND REVIEWED BY THE MANAGEMENT ENDICOTT TEAM, IT IS PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. A REPRESENTATIVE OF GRANT THORNTON'S TAX GROUP ATTENDS THE SCHEDULED MEETING TO ENSURE THAT ALL PERSONS HAVE HAD AN OPPORTUNITY TO ASK QUESTIONS AND DISCUSS THE CONTENT OF THE TAX RETURN. FOLLOWING THE FINANCE COMMITTEE REVIEW AND APPROVAL, IT IS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW, COMMENT AND APPROVAL PRIOR TO THE FILING OF THE FORM WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENDICOTT COLLEGE HAS A CONFLICT OF INTEREST POLICY THAT COVERS BOARD OF TRUSTEE MEMBERS, OFFICERS, AND KEY EMPLOYEES. THOSE COVERED IN THE POLICY ARE REQUIRED TO EXECUTE AND SUBMIT TO THE PRESIDENT AN ANNUAL STATEMENT THAT ACKNOWLEDGES THEY RECEIVED, READ, AND UNDERSTAND THE CONFLICT OF INTEREST POLICY; THEY UNDERSTAND THAT ENDICOTT COLLEGE IS A NOT-FOR-PROFIT ENTITY WHICH MUST NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS; AND THAT THE COLLEGE MUST BE OPERATED FOR THE PURPOSES STATED IN ITS BYLAWS. THEY AGREE TO COMPLY WITH THE POLICY AND ACKNOWLEDGE THAT, EXCEPT AS INDICATED IN THE SPACE PROVIDED ON THE ANNUAL STATEMENT, THEY HAVE NOTHING TO DISCLOSE THAT IS IN CONFLICT WITH THE ESTABLISHED POLICY. SHOULD ANY CHANGE OCCUR IN THEIR SITUATION, THEY WILL SUBMIT A FURTHER STATEMENT COVERING THE MATTER. THE VICE PRESIDENT OF FINANCE WILL FOLLOW THE PROCEDURES SET FORTH IN THE POLICY FOR ANY STATEMENT THAT INCLUDES A DISCLOSURE OF CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DUE DILIGENCE OF THE CHIEF EXECUTIVE OFFICER AND SENIOR MANAGEMENT'S COMPENSATION TO ASSURE THAT ENDICOTT COMPLIES WITH IRS REQUIREMENTS FOR NOT-FOR-PROFIT COMPENSATION. THE COMMITTEE REVIEWS AND DISCUSSES COMPENSATION OF COMPARABLE JOBS IN COMPARABLE COLLEGES AND UNIVERSITIES IN THE BOSTON AREA AND NEW ENGLAND. THE PRESIDENT IS COMPENSATED IN ACCORDANCE WITH A MULTI-YEAR COMPENSATION PLAN THAT IS BASED UPON RESEARCH ON COMPENSATION AWARDED TO PRESIDENTS IN SIMILAR INSTITUTIONS, TOGETHER WITH AN APPRAISAL OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT'S PERFORMANCE IS REVIEWED BY THE BOARD ON AN ANNUAL BASIS. THE CONCLUSIONS AND RECOMMENDATIONS OF THE COMPENSATION COMMITTEE ARE REVIEWED AND APPROVED REGULARLY BY THE FULL BOARD. THE MEMBERSHIP OF THE COMPENSATION COMMITTEE IS FREE OF CONFLICT OF INTEREST IN DETERMINING COMPENSATION. THE COMMITTEE ALSO REVIEWS AND GUIDES MANAGEMENT WITH RESPECT TO IMPLEMENTATION OF THE COMPENSATION POLICY FOR ALL OTHER EMPLOYEES. SALARIES ARE REVIEWED AND ADJUSTED ANNUALLY, BASED ON PERFORMANCE (AS MEASURED IN AN ANNUAL PERFORMANCE REVIEW) AND CHANGES IN RESPONSIBILITY. MINUTES OF COMPENSATION COMMITTEE MEETINGS ARE DOCUMENTED. AN INDEPENDENT COMPENSATION CONSULTANT WAS ENGAGED IN MARCH 2023 TO COMPLETE AN EXECUTIVE COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE THE ORGANIZATION'S FORM 990, GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND THE FORM 990 IS POSTED AT WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: CHANGE ON INTEREST RATE SWAP AGREEMENT -211,706.