2024-11-14T12:19:19-06:00 2023-12-31 990 2023-01-01 231352008 The American College AMER 6105261000 630 Allendale Road 400 King of Prussia PA 19406 MARK MONTGOMERY CHIEF FINANCIAL AND RISK OFFICER 6105261518 2024-11-13 1 2023 2024-10-15 13:58:12Z The American College of Financial Se George Nichols III 630 Allendale Road 400 King of Prussia PA 19406 39369717 0 X www.theamericancollege.edu X 1927 PA The mission of The American College of Financial Services (continued on next page). 23 21 238 100 0 0 13794611 4241123 26306068 29390270 1185702 1330028 1478155 1471012 42764536 36432433 2589587 2069228 0 0 28204678 28941137 0 0 2303292 15579326 15581743 46373591 46592108 -3609055 -10159675 95423850 89365690 21394682 23829189 74029168 65536501 X The mission of The American College of Financial Services is to provide applied financial knowledge and education, promote life-long learning, and advocate for ethical standards for the benefit of society. 0 0 24725959 985180 20717713 The Huebner School administers the curriculum leading to the CLU, ChFC, RICP, ChLF, ChSNC, and WMCP professional designations. It also provides the educational content needed to obtain the CFP professional designation. There are approximately 15,500 students enrolled in these programs. 3964905 1014555 3322167 The Irwin Graduate School administers the curriculum leading to the Master of Science in Management, the Master of Science in Financial Planning, and the Chartered Advisor in Philanthropy designation. There are approximately 960 students enrolled in these programs. 971178 5550 813744 The Financial Services Certified Professional Program administers the curriculum leading to the FSCP professional designation. There are approximately 1,250 students enrolled in this program. 5342746 63943 4474632 The College's Other Program Services includes the Professional Recertification Program ("PRP"), the Black Executive Leadership Program, other educational partnership programs. 5342746 63943 4474632 35004788 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 222 0 1 238 1 0 0 0 0 0 0 0 0 0 0 1 0 X 23 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CO KY MD MA MI NH NY OH OK OR OK X Alexander Eom 6105261263 630 Allendale Rd Suite 400 King of Prussia PA 19406 George Nichols President & CEO 40.00 X X 1200206 0 17336 Todd Schoon EVP & Senior Advisor to the President 40.00 X X 115000 0 0 Joe Bergan Trustee 1.00 X 0 0 0 Scott Berlin Trustee 1.00 X 0 0 0 Wallace Boston Trustee 1.00 X 0 0 0 Brandon Carter Trustee 1.00 X 0 0 0 George Connolly Trustee 1.00 X 0 0 0 Susan Cooper Trustee 1.00 X 0 0 0 Scott Davison Trustee 1.00 X 0 0 0 Edward Deutschlander Trustee 1.00 X 0 0 0 Matt Foran Trustee 1.00 X 0 0 0 Timothy Gerend Trustee 1.00 X 0 0 0 Salene Hitchcock-Gear Trustee 1.00 X X 0 0 0 John Howard Trustee 1.00 X X 0 0 0 Michael James Trustee 1.00 X 0 0 0 Michelle Johnson Trustee 1.00 X 0 0 0 Fred Jonske Trustee 1.00 X 0 0 0 Cheri Lytle Trustee 1.00 X 0 0 0 Brad Montgomery Trustee 1.00 X 0 0 0 Ellen Rinaldi Trustee 1.00 X 0 0 0 Kristi Rodriguez Trustee 1.00 X 0 0 0 Michael Rosenzweig Trustee 1.00 X 0 0 0 Frederick Sievert Trustee 1.00 X 0 0 0 Mark Montgomery Chief Financial & Risk Officer 40.00 X 335548 0 47453 Gwendolyn Hall EVP & Provost 40.00 X 534035 0 25177 Deborah Glenn VP - Administration and CHRO 40.00 X 347496 0 21272 Edward McEvoy SVP & Chief Information Officer 40.00 X 355788 0 23876 Jared Trexler SVP - Chief Marketing and Strategy Officer 40.00 X 328176 0 15402 David Stoeffel SVP - Business Development 40.00 X 510626 0 20359 Kirk Trasborg term 6523 SVP - Chief Strat & Oper Officer 40.00 X 290488 0 10970 Grady Batchelor SVP - Institute for Learning Innovation 40.00 X 303496 0 13233 Stephen Grourke SVP - Advancement and Alumni Relations 40.00 X 277779 0 14197 Michael Finke Professor & Engle Chairholder 40.00 X 265321 0 19969 James Roy Exec. Dir. - Center for Military 40.00 X 267890 0 12400 Hilary Fiorella Exec. Dir. - State Farm Cntr for Women 40.00 X 268293 0 26764 Karim Hill Exec. Dir. - Cntr for Econ. Empowerment 40.00 X 211717 0 12644 Azish Filabi Exec. Dir. - Maguire Cntr for Ethics 40.00 X 230805 0 27327 5842664 0 308379 87 0 1 0 Engine Room Technology 370 E Gowen Avenue Philadelphia PA 19119 Website Consulting 531754 Faegre Drinker Biddle & Reath LLP One Logan Square Suite 2000 Philadelphia PA 19103 Legal Services 295759 LinkedIn Corporation 1000 W Maude Ave Sunnyvale CA 94085 Networking and Social Media 243795 The Bridgespan Group 2 Copley Place Suite 3700B Boston MA 02116 Nonprofit Consultant 223635 Torch Enterprises Inc 3225 Mcleod Drive Suite 100 Las Vegas NV 89121 Consulting 182616 14 860000 3381123 37343 4241123 Solomon S. Huebner 611310 20717713 20717713 Other Program Revenue 611310 4536646 4536646 Richard D. Irwin Gradu 611310 3322167 3322167 FSCP 611310 813744 813744 29390270 1044621 1044621 206844 206844 2043792 0 2043792 2043792 2043792 2000000 1714593 285407 285407 285407 319174 860000 1222691 -903517 -903517 Institutional Book Sal 611130 119359 119359 4534 4534 123893 36432433 0 0 32191310 2069228 2069228 5882605 3489282 2033645 359678 17362691 13315139 3119234 928318 142706 142706 3908853 2826126 866212 216515 1644282 1188827 364377 91078 260034 14197 242972 2865 130079 130079 4086162 3371056 581849 133257 1132985 1112238 3957 16790 623933 482181 108471 33281 1916169 1642751 136255 137163 637311 455420 130657 51234 271743 103482 99355 68906 1782143 1452498 226631 103014 438205 355427 82778 Curriculum Development 1616527 1616527 Other General Administr 1259489 1231498 0 27991 Plant Operations 792489 632524 116241 43724 Bank Service Charge 634474 1814 625960 6700 46592108 35004788 9284028 2303292 2583686 3341515 12143813 7476108 2202921 4040047 62208 38652 2483743 2558483 47904256 20476232 28204513 27428024 15240174 26889797 9440295 7541832 23062497 10051232 95423850 89365690 7329933 7045461 12602953 15658991 1461796 1124733 21394682 23829189 X 13587233 8163996 60441935 57372505 74029168 65536501 95423850 89365690 X -10159675 1493379 173629 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 142552 X X 0 42548704 2064497 877813 1544157 43946857 42247027 2211222 -554959 1354586 42548704 45679213 2679107 585320 6696613 42247027 54081458 3595469 -2721928 9275786 45679213 60983467 475259 6354378 13731646 54081458 0.16740 0.58070 0.25190 0 0 7976047 7976047 17225688 3377991 13847697 5395222 2172595 3222627 17164747 14925646 2239101 142552 142552 27428024 Schwab Treasury Obligation MO: SCOXX 7541832 F 7541832 Life Insurance CSV - Contributed Policies 10051232 10051232 Accrued Pension 140372 Loan Payable 975241 Annuities Payable 9120 1124733 X 38907882 1493379 982070 2475449 36432433 0 36432433 47814799 1222691 1222691 46592108 0 46592108 Part V, Line 4: The College's endowment funds are held in perpetuity and the investment earnings are used in accordance with the donors' intents, which ultimately align with the mission of the College. Part X, Line 2: The Internal Revenue Service has classified The American College as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code ("Code"); as organizations, contributions to which are deductable under Section 170(c) of the Code; and as organizations that are not private foundations as defined in Section 509(a) of the Code. U.S. GAAP requires management to evaluate tax positions taken and recognize a tax liability, if the College has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax position taken by the College and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: (Gain)/Loss on Life Insurance CSV -240621. Event Expenses 1222691. Part XII, Line 2d - Other Adjustments: Event Expenses moved to Statement of Revenue 1222691. Part III, Line 4 The Circular Corners Statue is prominently displayed and enhances the visual footprint of the building. The Huebner Tea Set was used by the College's founder and was contributed by his family. It is displayed in the College's Executive Suite. 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 Schedule E, Part I, Line 3 The American College offers private donor funded scholarships as educational assistance for underserved communities in line with the College's mission. Schedule E, Part I, Line 4 The American College does not require ethnic and gender information from students who are matriculating or enrolling for courses at the graduate or designation levels. The College offers students the opportunity to voluntarily provide race, gender, and other demographics on the student profiles after enrollment. The College offers private donor funded scholarships to members of underserved communities. Schedule E, Part I, Line 5 The College offers private donor funded scholarship assistance to members of underserved communities. Schedule E, Part I, Line 7 The American College of Financial Services provides equal opportunity to students and employees, regardless of race, color, and national or ethnic origin. Conference of African American Fin 821207 547500 273707 10578 228693 329026 168758 56484 Clambake 167538 155000 12538 1869 44090 56830 40211 11064 3 190429 157500 32929 11733 75669 93516 35462 58708 1179174 860000 319174 24180 348452 479372 244431 126256 1222691 -903517 1 Tuition Assistance (Scholarships) 579 2069228 X X X 1 1 X X X X 0 1 0 1 0 1 0 0 0 George Nichols President & CEO 747342 0 431300 0 21564 0 14677 0 2659 0 1217542 0 0 0 Gwendolyn Hall EVP & Provost 395911 0 115000 0 23124 0 14677 0 10500 0 559212 0 0 0 David Stoeffel SVP - Business Development 388768 0 115000 0 6858 0 16500 0 3859 0 530985 0 0 0 Mark Montgomery Chief Financial & Risk Officer 257738 0 77000 0 810 0 17770 0 29683 0 383001 0 0 0 Edward McEvoy SVP & Chief Information Officer 271566 0 77000 0 7222 0 21732 0 2144 0 379664 0 0 0 Deborah Glenn VP - Administration and CHRO 263332 0 77000 0 7164 0 18102 0 3170 0 368768 0 0 0 Jared Trexler SVP - Chief Marketing and Strategy O 258836 0 67500 0 1840 0 13258 0 2144 0 343578 0 0 0 Grady Batchelor SVP - Institute for Learning Innovat 217874 0 70000 0 15622 0 11089 0 2144 0 316729 0 0 0 Kirk Trasborg term 6523 SVP - Chief Strat & Oper Officer 149415 0 75000 0 66073 0 9653 0 1317 0 301458 0 0 0 Hilary Fiorella Exec. Dir. - State Farm Cntr for Wom 201534 0 0 0 66759 0 5863 0 20901 0 295057 0 0 0 Stephen Grourke SVP - Advancement and Alumni Relatio 187358 0 86300 0 4121 0 12000 0 2197 0 291976 0 0 0 Michael Finke Professor & Engle Chairholder 264079 0 0 0 1242 0 17225 0 2744 0 285290 0 0 0 James Roy Exec. Dir. - Center for Military 231701 0 0 0 36189 0 10339 0 2061 0 280290 0 0 0 Azish Filabi Exec. Dir. - Maguire Cntr for Ethics 200495 0 14500 0 15810 0 10555 0 16772 0 258132 0 0 0 Karim Hill Exec. Dir. - Cntr for Econ. Empowerm 209932 0 0 0 1785 0 10831 0 1813 0 224361 0 0 0 Part I, Line 1a The Executive Committee of the Board has authorized the President to travel first class air on trips over four hours. The President and certain members of the Executive Leadership team are also allowed a housing allowance and/or health or social Club dues or initiation fees as part of their employment agreements. Part I, Line 3 The College's Compensation Committee, composed of Board members, determines the base compensation and annual incentive award of the President & CEO. They also review and approve the President & CEO's recommendations for other members of the College's leadership team. The award amounts are tied to the College's goals as well as individual performance and based on a qualitative evaluation of the accomplishment of goals that are determined at the beginning of the year. Part I, Line 5: In 2019 The College implemented short and long term incentive plans for top level executives. The Short Term Incentive Plan (STIP) is offered to members of the College's Leadership with annual payouts based on the achievement of enterprise-wide goals and objectives. The first payout was made in February 2020 for the 2019 calendar year. The Long Term Incentive Plan (LTIP) is offered to The College's Executive Leadership Team and is designed to retain and reward key executives based on the achievement of The College's long-term strategic objectives. The next potential payout date is February 2028, coinciding with The College's 100 year anniversary. X 2 30884 FMV 0 1 0 Part I, Column (b): The College received 2 separate stock contributions representing new contributions. Form 990, Part VI, Section A, line 2 Todd Schoon is a College Trustee and he serves on the Board of OneAmerica where Scott Davison, also a College Trustee, is the CEO. Form 990, Part VI, Section B, line 11b The Form 990 is completed by Finance staff and reviewed by the Chief Finance & Risk Officer for accuracy and completeness. It is then reviewed by the College's independent auditors. Once these steps are completed, it is presented to the College's Finance & Investment Committee and the full Board of Trustees for their review. This process involves sending the completed Form electronically to the Committee and Board and reviewing the Form during Committee's quarterly meeting prior to filing. Form 990, Part VI, Section B, line 12c All members of the College's Board of Trustees and all employees are required to complete the conflict of interest form annually. The returned forms are tabulated to ensure 100% response. The results of the Board member's responses are communicated to the Audit and Risk Committee and independent auditors and appropriate action is recommended. The results of the employee responses are communicated to the Chief Financial & Risk Officer and independent auditors and appropriate action is taken. Form 990, Part VI, Section B, line 15 The College's Compensation Committee, composed of Board members, determines the base compensation and annual incentive award of the President & CEO. They also review and approve the President & CEO's recommendations for other members of the College's leadership team. The award amounts are tied to individual performance and based on a qualitative evaluation of the accomplishment of goals that are determined at the beginning of the year. Form 990, Part VI, Section C, line 18 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Form 990, Part XI, line 9: Increase in Minimum Pension Liability 414251. Other Changes (Change in Life insurance CSV) -240622.