2024-05-14T15:55:16-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2022-07-01 041286950 EMERSON COLLEGE EMER 6178248500 120 BOYLSTON STREET BOSTON MA 021164624 PAUL DWORKIS VP ADMINISTRATION & FINANCE 6178248500 2024-05-14 1 PAUL DWORKIS XXX-XX-XXXX 1 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JAY BERNHARDT 120 BOYLSTON STREET BOSTON MA 021164624 442397814 0 X WWW.EMERSON.EDU X 1880 MA TO EDUCATE STUDENTS TO BECOME LEADERS IN COMMUNICATION AND THE ARTS (CONTINUED ON SCHEDULE O)AND TO ADVANCE SCHOLARSHIP AND CREATIVE WORK THAT BRINGS INNOVATION, DEPTH AND DIVERSITY TO THESE DISCIPLINES. 29 28 3369 200 13927 0 25041434 8375527 296164862 310212616 3716025 5205062 6296658 8055973 331218979 331849178 70010349 71412508 0 0 113121233 121346862 0 0 5171000 124851317 126221188 307982899 318980558 23236080 12868620 1118967112 1142841556 603675149 592022004 515291963 550819552 X SEE SCHEDULE O.EMERSON COLLEGE IS INTERNATIONALLY RECOGNIZED AS A PREMIER LIBERAL ARTS INSTITUTION DEVOTED TO COMMUNICATION AND THE ARTS. THE COLLEGE IS ORGANIZED INTO TWO SCHOOLS, EACH OF WHICH OFFERS BOTH UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS: THE SCHOOL OF THE ARTS AND THE SCHOOL OF COMMUNICATION. IN ADDITION TO ITS BOSTON, MASSACHUSETTS LOCATION, THE COLLEGE MAINTAINS CAMPUSES IN LOS ANGELES, CALIFORNIA AND KASTEEL WELL, THE NETHERLANDS. 0 0 199826559 71412508 254616964 EMERSON COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE PROGRAMS CHALLENGING STUDENTS TO THINK AND COMMUNICATE WITH CLARITY, SUBSTANCE AND INSIGHT. THE CURRICULUM INTEGRATES COMMUNICATION WITH LIBERAL ARTS AND EMPHASIZES A GLOBAL OUTLOOK AND PRACTICAL EXPERIENCE TO HELP DEVELOP THE INHERENT CAPACITIES OF EACH STUDENT. THE COLLEGE EDUCATES APPROXIMATELY 4,200 UNDERGRADUATE AND 1,800 GRADUATE STUDENTS ANNUALLY - THIS YEAR FROM 50 U.S. STATES, WASHINGTON, D.C., PUERTO RICO, THE US VIRGIN ISLANDS, AND 80 COUNTRIES. THE COLLEGE HAS MORE THAN 600 FULL AND PART-TIME FACULTY. 68184000 0 59662341 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THESE SERVICES PREDOMINANTLY INCLUDE ROOM, BOARD, AND BOOKSTORE OPERATIONS. THEATRE OPERATIONS ARE ALSO CLASSIFIED AS AN AUXILIARY ENTERPRISE. 268010559 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 7019 0 1 3369 1 1 1 1 NL 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 AK CA MD MA MI NV NH ND WA X X X KRISTEN MARGARIDA COULOMBE 6178248426 120 BOYLSTON STREET BOSTON MA 021164621 WILLIAM GILLIGAN INTERIM PRESIDENT (THRU 05/2023) 40.00 0.00 X X 934593 0 63663 JAY BERNHARDT PRESIDENT (AS OF 06/2023) 40.00 0.00 X X 0 0 0 ERIC ALEXANDER CHAIR 2.00 0.00 X X 0 0 0 KEVIN BRIGHT CO-VICE CHAIR 2.00 0.00 X X 0 0 0 DOUGLAS HOLLOWAY CO-VICE CHAIR 2.00 0.00 X X 0 0 0 ELLEN CALMAS TREASURER 2.00 0.00 X X 0 0 0 ROBERT MILLER SECRETARY 2.00 0.00 X X 0 0 0 VIVIAN BEARD BOARD MEMBER 2.00 0.00 X 0 0 0 TRACI BLACKWELL BOARD MEMBER 2.00 0.00 X 0 0 0 VINCENT J DI BONA BOARD MEMBER 2.00 0.00 X 0 0 0 DENA DAVIS BOARD MEMBER 2.00 0.00 X 0 0 0 LORENZO DI BONAVENTURA BOARD MEMBER 2.00 0.00 X 0 0 0 ROBERT FRIEND BOARD MEMBER 2.00 0.00 X 0 0 0 SCOTT GOLDENBERG BOARD MEMBER (AS OF 05/2023) 2.00 0.00 X 0 0 0 IRA GOLDSTONE BOARD MEMBER 2.00 0.00 X 0 0 0 JEFFREY D GREENHAWT BOARD MEMBER 2.00 0.00 X 0 0 0 GARY GROSSMAN BOARD MEMBER (THRU 05/2023) 2.00 0.00 X 0 0 0 DOUG HERZOG BOARD MEMBER 2.00 0.00 X 0 0 0 ALBERT M JAFFE BOARD MEMBER 2.00 0.00 X 0 0 0 MICHAEL MACWADE BOARD MEMBER 2.00 0.00 X 0 0 0 MICHAEL MARA BOARD MEMBER 2.00 0.00 X 0 0 0 ANDREA MONTONI BOARD MEMBER 2.00 0.00 X 0 0 0 PATRICIA PEYTON BOARD MEMBER 2.00 0.00 X 0 0 0 NATE PUSEY BOARD MEMBER 2.00 0.00 X 0 0 0 SHEILA ROBINSON BOARD MEMBER 2.00 0.00 X 0 0 0 STEVEN SAMUELS BOARD MEMBER 2.00 0.00 X 0 0 0 RAJ SHARMA BOARD MEMBER 2.00 0.00 X 0 0 0 SUSAN NAMM SPENCER BOARD MEMBER 2.00 0.00 X 0 0 0 CATHY WEISS BOARD MEMBER 2.00 0.00 X 0 0 0 PETER ZAMORE BOARD MEMBER 2.00 0.00 X 0 0 0 MARILLYN ZACHARIS BOARD MEMBER 2.00 0.00 X 0 0 0 PAUL DWORKIS VP FOR ADMINISTRATION AND FINANCE 40.00 0.00 X 436023 0 61211 JAN ROBERTS-BRESLIN INT. PROVOST & VP FOR ACADEMIC AFF. 40.00 0.00 X 308593 0 58909 RUTHANNE MADSEN VP FOR ENROLLMENT MGT. (THRU 11/22) 40.00 0.00 X 291440 0 38734 DAVID CHRISTOPHER HOWSE VP OF THE OFFICE OF THE ARTS 40.00 0.00 X 293271 0 36864 MARGARET INGS VP, GOVT. AND COMMUNITY RELATIONS 40.00 0.00 X 307622 0 18873 ANNE SHAUGHNESSY VP AND CHIEF OF STAFF 40.00 0.00 X 251804 0 56464 SPENCER KIMBALL DIR OF POLLING CENTER/ASSOC PROF 40.00 0.00 X 247208 0 42670 ROBERT J BUTLER JR ASSOCIATE VICE PRESIDENT, FINANCE 40.00 0.00 X 245543 0 27165 MEREDITH AINBINDER FORMER GENERAL COUNSEL 40.00 0.00 X 124782 0 17267 3440879 0 421820 184 1 1 0 BON APPETIT MANAGEMENT CO 2400 YORKMONT ROAD CHARLOTTE NC 28217 FOOD SERVICES 12861202 ONE DIVERSIFIED LLC 37 MARKET STREET KENILWORTH NJ 07033 TECHNOLOGY AND ADVISORY SERVICES 2814136 CDI COMMERCIAL DEVELOPMENT INC 427 WATER STREET WAKEFIELD MA 01880 CONSTRUCTION SERVICES 2276628 COMPASS FACILITY SERVICES INC 65 JACKMAN STREET GEORGETOWN MA 01883 JANITORIAL SERVICES 2059888 NER CONSTRUCTION MANAGEMENT CORP 867 WOBURN STREET WILMINGTON MA 01887 CONSTRUCTION SERVICES 2059207 132 41500 2349866 5984161 122601 8375527 TUITION & FEES 611710 254616964 254616964 ROOM & BOARD 611710 54042496 54042496 AUXILIARY - OTHER 611710 1447184 1447184 BOOKSTORE COMMISSION 611710 105972 105972 310212616 3359982 -75460 3435442 2781677 2781677 1920995 811140 1109855 1109855 1109855 111563216 109718136 1845080 1845080 1845080 27725 41500 19360 8365 8365 MISCELLANEOUS 611710 4066689 4066689 SUMMER CONFERENCES 531390 89387 89387 4156076 331849178 314279305 13927 9180419 69267951 69267951 2144557 2144557 1766680 458569 1050213 257898 92995571 76123692 14499750 2372129 5817460 4751042 904960 161458 14362270 11416402 2174553 771315 6404881 5230781 996339 177761 932144 932144 380851 380851 38 38 715755 715755 5054107 4244363 808414 1330 2613635 2049653 390410 173572 8408619 7019299 1337009 52311 3669804 2989474 569423 110907 12176908 9740308 1855296 581304 2858275 2350001 447619 60655 983357 763942 145512 73903 22180086 18631272 3548814 20888649 17546465 3342184 7482609 6285392 1197217 OTHER FOOD SERVICES 13005289 10821037 2061150 123102 OTHER MAINT & EQUIP 12038564 10111830 1926062 672 OTHER SERVICES 6331691 5271202 1004038 56451 6500807 793327 5511248 196232 318980558 268010559 45798999 5171000 447452 426770 105462291 124900539 5505308 3914078 1858104 2343901 1117741 637520 6242195 5737946 1058628800 325172095 745563261 733456705 225429172 241286721 59940 40 0 0 27281648 30137336 1118967112 1142841556 44597739 42462895 19389528 18992150 515856413 506450174 23831469 24116785 603675149 592022004 X 440758354 471115230 74533609 79704322 515291963 550819552 1118967112 1142841556 12868620 22658969 0 X 0 1 X 1 1 1 X 9744382 8553598 14669799 25041434 8375527 66384740 9744382 8553598 14669799 25041434 8375527 66384740 1603309 64781431 13393514 7960301 14650942 7151511 8138114 51294382 90100 24310 27725 142135 117821257 1361067231 0.54980 0.54250 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2018 AMOUNT: $ 90,100. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 24,310. 2022 AMOUNT: $ 27,725. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 1 38 38 0 PART II-B, LINE 1: SCHEDULE C, PART II REPRESENTS THE PORTION OF ANNUAL DUES INVOLVED IN LOBBYING ACTIVITIES WHICH RELATES TO THE NATIONAL ASSOCIATION OF COLLEGEAND UNIVERSITY BUSINESS OFFICERS AND ITS AFFILIATES ("NACUBO"). THE AMOUNT IS NEGLIGIBLE. THIS REPRESENTS THE ONLY LOBBYING ACTIVITIES OF THE COLLEGE. X 0 224902734 1711462 22991554 8880714 240725036 259626226 1487361 -28117296 8093557 224902734 183295624 23866410 59889154 7424962 259626226 180509388 2805692 4723915 4743371 183295624 171633889 3221142 10248986 4594629 180509388 0.71390 0.19730 0.08880 0 0 76843446 76843446 932477736 285987197 646490539 5940310 5280679 659631 39176106 33904219 5271887 4191202 4191202 733456705 CAPITAL LEASE OBLIGATIONS 23809470 REFUNDABLE ADVANCES GOVT GRANT 307315 24116785 X 283210384 22658969 830500 23489469 259720915 715755 71412508 72128263 331849178 247682795 830500 830500 246852295 715755 71412508 72128263 318980558 PART III, LINE 4: THE ARCHIVES & SPECIAL COLLECTIONS AT EMERSON COLLEGE DOCUMENT THE HISTORY OF THE COLLEGE AS WELL AS THE HISTORY OF TOPICS AND ISSUES THAT COMPLEMENT THE COLLEGE'S CURRICULUM. THIS INCLUDES, BUT IS NOT LIMITED TO, COLLECTIONS RELATED TO THE HISTORY OF THEATER, JOURNALISM, AND THE VISUAL ARTS. IT IS ALSO HOME TO THE AMERICAN COMEDY ARCHIVES, WHICH HOLDS COLLECTIONS DOCUMENTING THE LIVES OF GROUNDBREAKING COMEDIC WRITERS, PRODUCERS, PERFORMERS, AND DIRECTORS. THE ITEMS WITHIN THE COLLECTIONS VARY GREATLY, FROM VIDEO GAMES TO ARTWORK. THE COLLEGE COLLECTS, PRESERVES, AND PROVIDES ACCESS TO THESE DIVERSE COLLECTIONS IN AN INCLUSIVE, EQUITABLE, AND SOCIALLY JUST MANNER, SO THAT ALL MEMBERS OF THE COLLEGE'S INTERNAL AND EXTERNAL COMMUNITIES CAN SEE THEMSELVES REFLECTED IN THE HISTORICAL RECORD. PART V, LINE 4: ENDOWMENT FUNDS THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 196 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING DONOR RESTRICTED ENDOWMENT FUNDS AND OTHERS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE PURPOSE OF THE COLLEGE'S ENDOWMENT IS TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A RELIABLE SOURCE OF FUNDS FOR CURRENT AND FUTURE USE THROUGH QUARTERLY DRAWDOWNS. THE ENDOWMENT IS USED TO FUND SCHOLARSHIPS AND GRANTS AS WELL AS TO PROVIDE SUPPORT FOR PROGRAM SERVICES. UNDER THE COLLEGE'S CURRENT LONG-TERM INVESTMENT SPENDING POLICY, WHICH IS WITHIN THE GUIDELINES SPECIFIED UNDER STATE LAW, THE COLLEGE MAY SPEND UP TO 5% OF THE AVERAGE MARKET VALUE OF THE QUALIFYING ENDOWMENT INVESTMENT POOL AT THE END OF THE PREVIOUS FIVE CALENDAR YEARS. PART X, LINE 2: ASC 740 INCOME TAX FOOTNOTE THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (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 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 811,140. FUNDRAISING EXPENSES 19,360. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID - EMERSON SCHOLARSHIPS 71,412,508. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 811,140. FUNDRAISING EXPENSES 19,360. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID - EMERSON SCHOLARSHIPS 71,412,508. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS AVAILABLE IN THE COLLEGE'S ADMISSION CATALOG AND THE COLLEGE'S WEBSITE. EMERSON COLLEGE ADMITS QUALIFIED STUDENTS REGARDLESS OF RACE, COLOR, RELIGIOUS BELIEFS, NATIONAL AND ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, GENDER IDENTIY, AGE, OR DISABILITY TO ALL OF THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE COLLEGE. EMERSON COLLEGE DOES NOT UNLAWFULLY DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGIOUS BELIEFS, NATIONAL AND ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, AGE, DISABILITY, OR ANY OTHER CATEGORY PROTECTED BY LAW IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC PROGRAMS, OR OTHER COLLEGE-ADMINISTRATED PROGRAMS OR ACTIVITIES. SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN A NUMBER OF FEDERAL FINANCIAL PROGRAMS FOR ITS STUDENTS WHO HAVE FILED A FAFSA AND ARE ELIGIBLE FOR FEDERAL FINANCIAL AID. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 1 21 PROGRAM SERVICES SEMESTER ABROAD CLASS 3291929 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 31701211 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 2144557 1 21 0 0 1 21 37137697 0 37137697 EMERSON COLLEGE FUNDEDSCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 191 2144557 1 0 1 1 1 1 PART I, LINE 2: MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATIONAL PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC YEAR. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. PART I, LINE 3: GRANTMAKING EXPENDITURES FOR SCHOLARSHIPS ARE REPORTED IN COLUMN (F) AT THEIR BOOK VALUE. AMOUNTS SHOWN IN COLUMN (F) FOR INVESTMENTS ARE REPORTED AT THEIR FAIR MARKET VALUE. EXPENDITURES FOR THE SEMESTER ABROAD CLASSES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: PART IV FOREIGN FILING REQUIREMENTS: THE COLLEGE HAS CERTAIN ALTERNATIVE INVESTMENTS THAT MAY HAVE TRANSFERS TO OR GENERATE OWNERSHIP INTERESTS IN FOREIGN COPRORATIONS OR PARTNERSHIPS. AS SUCH, SCHEDULE F PART IV REFLECTS THESE TRANSFERS AND INTERESTS. THE COLLEGE HAS REVIEWED THESE INVESTMENTS FOR ANY TRANSFERS OR INTERESTS THAT ARE REQUIRED TO BE FURTHER REPORTED ON FORMS 926, 5471, 8621, OR 8865. AK CA MD MA MI NV NH ND WA GOLF TOURNAMENT 69225 41500 27725 7334 9760 2266 69225 41500 27725 7334 9760 2266 19360 8365 1 EMERSON COLLEGE FUNDED SCHOLARSHIPS 3963 69267951 PART I, LINE 2: EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO THE STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATION PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC CAREER. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. X X X 1 1 X X X X X X 1 1 0 0 0 0 0 0 0 WILLIAM GILLIGAN INTERIM PRESIDENT (THRU 05/2023) 584223 0 0 0 350370 0 62117 0 1546 0 998256 0 0 0 PAUL DWORKIS VP FOR ADMINISTRATION AND FINANCE 406117 0 0 0 29906 0 27450 0 33761 0 497234 0 0 0 JAN ROBERTS-BRESLIN INT. PROVOST & VP FOR ACADEMIC AFF. 299906 0 0 0 8687 0 30316 0 28593 0 367502 0 0 0 RUTHANNE MADSEN VP FOR ENROLLMENT MGT. (THRU 11/22) 264351 0 0 0 27089 0 24299 0 14435 0 330174 0 0 0 DAVID CHRISTOPHER HOWSE VP OF THE OFFICE OF THE ARTS 292300 0 0 0 971 0 26766 0 10098 0 330135 0 0 0 MARGARET INGS VP, GOVT. AND COMMUNITY RELATIONS 203645 0 0 0 103977 0 18372 0 501 0 326495 0 0 0 ANNE SHAUGHNESSY VP AND CHIEF OF STAFF 228130 0 0 0 23674 0 21381 0 35083 0 308268 0 0 0 SPENCER KIMBALL DIR OF POLLING CENTER/ASSOC PROF 246557 0 0 0 651 0 7830 0 34840 0 289878 0 0 0 ROBERT J BUTLER JR ASSOCIATE VICE PRESIDENT, FINANCE 241804 0 0 0 3739 0 22290 0 4875 0 272708 0 0 0 MEREDITH AINBINDER FORMER GENERAL COUNSEL 105441 0 0 0 19341 0 9802 0 7465 0 142049 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL THE PRESIDENT MAY TRAVEL VIA FIRST CLASS IN ORDER TO CARRY OUT HIS/HER DUTIES AS REQUIRED BY THE COLLEGE. THE PRESIDENT HAS THE AUTHORITY TO APPROVE FIRST CLASS TRAVEL FOR VICE PRESIDENTS WHEN WARRANTED AND WITH PRIOR APPROVAL. SUCH ACCOMMODATIONS FOR THE PRESIDENT AND VICE PRESIDENTS ARE NOT INCLUDED IN TAXABLE WAGES AS THEY ARE PROVIDED FOR THE BENEFIT OF THE COLLEGE. HOUSING ONE LISTED INDIVIDUAL RECEIVED A TAXABLE HOUSING ALLOWANCE. THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J PART II COLUMN (B)(III). TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE COLLEGE PROVIDED CERTAIN PAYMENTS TO EMPLOYEES REPORTED ON SCHEDULE J PART II THAT WERE GROSSED UP FOR TAX PURPOSES. THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J PART II COLUMN (B)(III). PART I, LINES 4A-B LINE 4A: SEVERANCE AGREEMENTS AND PAYMENT WILLIAM GILLIGAN, VP FOR INFORMATION TECHNOLOGY, SIGNED A VOLUNTARY EARLY RETIREMENT PROGRAM AGREEMENT AND LEFT HIS POSITION IN DECEMBER 2020. MR. GILLIGAN RECEIVED $275,100 IN CALENDAR YEAR 2021 AND $137,550 IN CALENDAR YEAR 2022. SUBSEQUENT TO HIS SIGNING THE AGREEMENT, MR. GILLIGAN AGREED TO REJOIN THE COLLEGE IN JUNE 2021 AS INTERIM PRESIDENT WHILE THE COLLEGE'S PRESIDENTIAL SEARCH COMMITTEE REVIEWED POTENTIAL CANDIDATES FOR THE PERMANENT ROLE. THE PORTION OF HIS SEVERANCE PAID IN CALENDAR YEAR 2022 IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). MARGARET INGS, INTERIM VP FOR GOVERNMENT AND COMMUNITY RELATIONS, SIGNED A VOLUNTARY EARLY RETIREMENT PROGRAM AGREEMENT AND LEFT HER POSITION IN JUNE 2021. PURSUANT TO THIS AGREEMENT, MRS. INGS RECEIVED $136,308 IN CALENDAR YEAR 2021 AND $103,692 IN CALENDAR YEAR 2022. THE PORTION OF HER SEVERANCE PAID IN CALENDAR YEAR 2022 IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). LINE 4B: THE PRESIDENT PARTICIPATES IN A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT. AMOUNTS ACCRUED UNDER THE AGREEMENT IN CALENDAR YEAR 2022 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. A CMFA SERIES 2011 201563566 13048TMZ3 2011-12-08 55463072 LOS ANGELES BUILDING 1 0 0 B MDFA SERIES 2015 043431814 57583U7F9 2015-05-14 143055842 CONSTRUCTION OF DORM. & RENOV. 0 0 0 C MDFA SERIES 2016A 043431814 57584XD57 2016-12-06 204166939 RENOVATION OF DORM 0 0 0 D MDFA SERIES 2017A 043431814 57584XU74 2017-09-14 112429423 ADVANCE REFUND OF DEBT 0 0 0 A 52400000 55463072 4837952 621432 50003688 2014 0 0 1 1 B 20450000 143055842 7468507 892053 77471533 57223749 2017 0 1 1 1 C 19990000 204166939 15397662 1185722 187583555 2019 0 0 1 1 D 112429423 846841 111582582 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 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K THE SERIES 2015 BONDS WERE ISSUED TO REFUND THE COLLEGE'S OUTSTANDING SERIES 2006 DEBT AS WELL AS FINANCE THE CONSTRUCTION OF THE 2 BOYLSTON PLACE DORMITORY. THE SERIES 2017A BONDS WERE ISSUED TO ADVANCE REFUND THE SERIES 2010A DEBT, AND THE COLLEGE FULLY DEFEASED THE REMAINDER OF THE SERIES 2010A ISSUANCE USING OPERATING CASH DURING FISCAL 2018. THE SERIES 2017B BONDS WERE ISSUED TO ADVANCE REFUND SERIES 2011 DEBT. PART IV, LINE 2C FOR THE SERIES 2011 ISSUANCE, THE REBATE CALCULATION WAS PERFORMED AS OF JUNE 30, 2017. FOR THE SERIES 2015 ISSUANCE, THE REBATE CALCULATION WAS PERFORMED AS OF JUNE 30, 2018. FOR THE SERIES 2016A AND SERIES 2017A ISSUANCES, THE REBATE CALCULATION WAS PERFORMED AS OF JUNE 30, 2020. FOR THE SERIES 2017 AND SERIES 2018 ISSUANCES, THE REBATE CALCULATION WAS PERFORMED AS OF JUNE 30, 2021. FOR ALL REBATE CALCULATIONS PERFORMED, NO REBATE WAS DUE. A CMFA SERIES 2017B 201563466 13048T6J7 2017-09-19 62717607 ADVANCE REFUND OF DEBT 0 0 0 B MDFA SERIES 2018 043431814 57584YFK0 2018-04-11 24367428 WORKING CAPITAL 0 0 0 A 62717607 55416465 523293 6777849 2017 0 1 1 1 B 24367428 367428 24000000 2018 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 X 6 122601 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART I, LINE 6: THE COLLEGE IDENTIFIED THE AREAS AND DEPARTMENTS THAT USE VOLUNTEERS DURING THE TAX YEAR. THESE DEPARTMENTS WERE ASKED TO ESTIMATE THE NUMBER OF VOLUNTEERS USED FOR THE VARIOUS PROGRAMS. THE TYPES OF SERVICES PROVIDED BY THESE VOLUNTEERS INCLUDE PHONE-A-THONS, ORIENTATION, CAMPUS TOUR GUIDES, AND INFORMATION SESSIONS. THE NUMBER OF VOLUNTEERS DOES NOT INCLUDE EMPLOYEES. FORM 990, PART V, LINE 1A: THE NUMBER FROM 2022 FORM 1096 BOX 3 INCLUDES 6,524 FORMS 1098-T. FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE COMMITTEE THE BYLAWS DELEGATES GENERAL SUPERVISION OF THE ADMINISTRATION AND PROPERTY OF THE COLLEGE TO AN EXECUTIVE COMMITTEE IN BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE INCLUDES TRUSTEES DESIGNATED BY THE CHAIR. FORM 990, PART VI, SECTION A, LINE 4 DURING THE FISCAL YEAR, EMERSON COLLEGE AMENDED ITS BYLAWS, CHANGING THE TERM OF THE FACULTY REPRESENTATIVE FROM THREE TO TWO YEARS. IN ADDITION, A NEW COMMITTEE WAS ADDED AND CERTAIN RESPOSIBILITIES HAVE SHIFTED BETWEEN THE COMMITTEES OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. A DRAFT FORM 990 IS GIVEN TO THE AUDIT COMMITTEE FOR THEIR REVIEW. DURING THIS REVIEW, QUESTIONS REGARDING THE DRAFT FORM 990 ARE ANSWERED BY MANAGEMENT. CHANGES ARE MADE IF NECESSARY. THE FORM 990 IS THEN MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY BEFORE THE FORM IS ELECTRONICALLY FILED WITH THE IRS AND MADE PUBLICLY AVAILABLE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE BY-LAWS OF THE BOARD OF TRUSTEES CONTAINS A WRITTEN CONFLICT OF INTEREST POLICY. MEMBERS OF THE BOARD COMPLETE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES. A TRUSTEE SHOULD DISCLOSE AN ACTUAL/POTENTIAL CONFLICT TO THE CHAIR (OR VICE-CHAIR) AND GENERAL COUNSEL. AS A BEST PRACTICE, OFFICERS AND KEY EMPLOYEES ALSO ACKNOWLEDGE RECEIPT OF, AND FAMILIARITY WITH THE POLICY, AND COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW THE PURPOSE OF THE COMPENSATION COMMITTEE IS TO ESTABLISH A FAIR AND APPROPRIATE COMPENSATION PACKAGE FOR THE PRESIDENT. THE COMMITTEE MAY ALSO, UPON REQUEST OF THE PRESIDENT, ADVISE ON COMPENSATION OF THE OTHER HIGHLY COMPENSATED MEMBERS OF THE ADMINISTRATION. THE PRESIDENT MAY NOT ATTEND MEETINGS OF THE COMPENSATION COMMITTEE WHEN THE PRESIDENT'S COMPENSATION IS UNDER CONSIDERATION. ALL COMPENSATION AT THE COLLEGE IS BASED ON COMPARATIVE DATA AND DOCUMENTED EITHER IN BOARD MINUTES OR HUMAN RESOURCES RECORDS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC INSPECTION EMERSON COLLEGE MAKES AVAILABLE FORM 990 ON ITS WEBSITE, AND FORM 990-T UPON REQUEST. DURING THE YEAR, THE COLLEGE RECEIVES REGULAR REQUESTS FOR THE TAX DOCUMENTS AND THESE REQUESTS ARE NORMALLY FULFILLED WITHIN A DAY. THE COLLEGE MAKES AVAILABLE ITS GOVERNING DOCUMENTS (BY-LAWS) ON THE COLLEGE'S WEBSITE. THE COLLEGE MAKES AVAILABLE ON ITS WEBSITE ITS CONFLICT OF INTEREST POLICY AND ITS FINANCIAL STATEMENTS.