2023-04-13T18:01:26-05:00 2022-06-30 910189318 MOSS ADAMS LLP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2021-07-01 910567740 BOARD OF TRUSTEES OF WHITMAN COLLEGE BOAR 5095275411 345 BOYER AVENUE WALLA WALLA WA 993622067 PETER HARVEY CFO 5095275145 2023-04-06 1 PETER HARVEY XXX-XX-XXXX TRACY S PAGLIA P00366884 2099556100 2023-03-27 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SARAH BOLTON 345 BOYER AVENUE WALLA WALLA WA 993622067 403201924 0 X HTTP://WWW.WHITMAN.EDU X 1859 WA PROVIDE A RIGOROUS LIBERAL ARTS EDUCATION TO PASSIONATE, ENGAGED STUDENTS FROM DIVERSE BACKGROUNDS. 22 21 1545 875 8151609 6826840 12995979 25192899 71354082 97675433 41216176 31195807 1830242 1963457 127396479 156027596 31850406 40174163 0 0 48177952 50979638 0 0 3454906 75265872 42632137 155294230 133785938 -27897751 22241658 1131583451 951754815 123847426 115740918 1007736025 836013897 X THE MISSION OF WHITMAN COLLEGE IS TO PROVIDE A RIGOROUS LIBERAL ARTS EDUCATION OF THE HIGHEST QUALITY TO PASSIONATE AND ENGAGED STUDENTS FROM DIVERSE BACKGROUNDS. WHITMAN STUDENTS DEVELOP THEIR INTELLECTUAL AND CREATIVE CAPACITIES IN A SUPPORTIVE SCHOLARLY COMMUNITY THAT PRIORITIZES STUDENT LEARNING WITHIN AND BEYOND THE CLASSROOM. 0 0 61248728 85736833 TO PROVIDE ACADEMIC INSTRUCTION, SUPPORT AND OTHER PROGRAMS TO ALL WHITMAN COLLEGE STUDENTS, INCLUDING 1,482 FULL TIME EQUIVALENT STUDENTS AND 337 GRADUATED STUDENTS. 40174163 40174163 TO PROVIDE STUDENTS WITH SERVICES INCLUDING FINANCIAL AID ASSISTANCE, COUNSELING, INTERNSHIPS, JOB PLACEMENT, INSTRUCTIONAL SCHOLARSHIPS, AND FEDERAL LOANS OR GRANTS. DURING THE FISCAL YEAR, 1,440 STUDENTS RECEIVED INSTRUCTIONAL SCHOLARSHIPS AND 585 STUDENTS RECEIVED FEDERAL LOANS OR GRANTS. 13762248 11942155 TO PROVIDE STUDENTS WITH AUXILIARY SERVICES. DURING THE FISCAL YEAR, 758 STUDENTS WERE HOUSED IN COLLEGE-PROVIDED HOUSING AND 823 STUDENTS PARTICIPATED IN COLLEGE-PROVIDED BOARD PLANS. 115185139 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 2334 0 1 1545 1 1 1 0 0 0 0 0 1 1 0 0 0 0 1 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV AK AL AR CA X X DARLENE WILSON CONTROLLER WHITMAN COLLEGE 5095274936 345 BOYER AVENUE WALLA WALLA WA 99362 JOE DAVIS CHAIR 1.00 X X 0 0 0 DANA REID VICE CHAIR 1.00 X X 0 0 0 CHRISTINA DAWSON TRUSTEE 1.00 X 0 0 0 BARBARA FEIGIN TRUSTEE 1.00 X 0 0 0 DANIELLE GARBE RESER TRUSTEE 1.00 X 0 0 0 MARK KAJITA TRUSTEE 1.00 X 0 0 0 GORDON KEANE JR TRUSTEE 1.00 X 0 0 0 PETER LEWIS TRUSTEE 1.00 X 0 0 0 NATE MILES TRUSTEE 1.00 X 0 0 0 TRICIA MONTGOMERY TRUSTEE 1.00 X 0 0 0 JIM MOORE TRUSTEE 1.00 X 0 0 0 BILL NEFF TRUSTEE 1.00 X 0 0 0 CHARLES NELSON TRUSTEE 1.00 X 0 0 0 CHARLEY ROSENBERRY TRUSTEE 1.00 X 0 0 0 NANCY SERRURIER TRUSTEE 1.00 X 0 0 0 AKSHAY SHETTY TRUSTEE 1.00 X 0 0 0 JONATHAN SPOSATO TRUSTEE 1.00 X 0 0 0 DENISE TABBUTT TRUSTEE 1.00 X 0 0 0 JULIE TAYLOR TRUSTEE 1.00 X 0 0 0 SARAH WANG TRUSTEE 1.00 X 0 0 0 ANN WATSON TRUSTEE 1.00 X 0 0 0 COURT WYCKOFF TRUSTEE 1.00 X 0 0 0 BRAD MCMURCHIE TRUSTEE (THROUGH 08/21) 1.00 X 0 0 0 KATHLEEN MURRAY PRESIDENT 40.00 X 497750 0 68969 PETER HARVEY CHIEF FINANCIAL OFFICER 40.00 1.00 X 253349 0 50843 ALZADA TIPTON PROVOST & DEAN OF FACULTY 40.00 X 223092 0 62528 STEVEN SETCHELL VICE PRESIDENT FOR DEVELOPMENT & ALUMNI RELATION 40.00 X 251493 0 21652 KAZIPUTALIMBA JOSHUA VICE PRESIDENT FOR STUDENT AFFAIRS/DEAN OF STUDENT 40.00 X 175335 0 89253 PATRICK KEEF FACULTY 40.00 X 179318 0 17819 DAN TERRIO CHIEF INFORMATION OFFICER 40.00 X 165453 0 25654 PATRICK SPENCER FACULTY 40.00 X 162940 0 20176 SCOTT KLEINHEKSEL ASSOCIATE VICE PRESIDENT FOR DEVELOPMENT 40.00 X 158289 0 16858 DAVID SCHMITZ FACULTY 40.00 X 155031 0 16217 KIMBERLY CHANDLER FACULTY 40.00 X 147057 0 7500 2369107 0 397469 68 0 1 0 BON APPETIT PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 4093799 APOLLO MECHANICAL CONTRACTORS 1207 W COLUMBIA DR KENNEWICK WA 99336 CONSTRUCTION 492353 MORENO NELSON CONSTRUCTION CORP PO BOX 794 WALLA WALLA WA 99362 CONSTRUCTION 476910 LEONE KEEBLE INC 108 W BOONE AVENUE SPOKANE WA 99201 CONSTRUCTION 439200 MONTICELLO ASSOCIATES 1200 17TH STREET STE 2600 DENVER CO 80202 CONSULTING - INVESTMENT MANAGEMENT 250000 17 1899566 23293333 14132908 25192899 STUDENT TUITION & FEES 616000 84958229 84958229 HOUSING & MEAL SERVICES 611710 11909225 11909225 MISCELLANEOUS INCOME 900099 775049 775049 AUXILIARY 611710 32930 32930 97675433 14220072 8152412 6067660 3555 3555 3177647 1216942 1960705 1960705 1960705 262932318 245956583 16975735 16975735 16975735 803 -803 -803 156027596 97675433 8151609 25007655 X 38101174 38101174 2072989 2072989 2096070 627462 1137960 330648 36476066 30768406 4095462 1612198 5983502 5278349 301212 403941 3682436 3247013 182684 252739 2741564 2411340 145689 184535 249549 249549 126613 126613 4812 4812 2986507 2986507 14676506 13789580 703004 183922 52826 43022 7183 2621 1811547 50375 1585055 176117 2440009 2293608 146401 3366974 2596546 684104 86324 2389739 2246355 143384 8478023 7969342 508681 1307105 1307105 SUPPLIES 3521663 2868092 653571 0 COMMUNICATIONS 673660 548638 91600 33422 PRINTING & PUBLICATION 358182 119394 59697 179091 POSTAGE & SHIPPING 188422 153454 25620 9348 133785938 115185139 15145893 3454906 3352666 2585673 33175618 60868168 25165388 17907905 631846 726632 881596 0 0 649120 278358360 112671636 168608041 165686724 422347622 288232930 475138771 413312465 1022395 738496 1259508 1046702 1131583451 951754815 13559667 9729651 1275875 989264 1860883 1863212 67714221 78057872 39436780 25100919 123847426 115740918 X 390320369 334352892 617415656 501661005 1007736025 836013897 1131583451 951754815 X 22241658 -190534095 -3429692 X 0 1 X 1 1 1 X 9806004 17713622 16935784 12967899 25192899 82616208 9806004 17713622 16935784 12967899 25192899 82616208 12536878 70079330 8202302 7596764 7752681 10920679 9245307 43717733 7940743 6827840 14768583 141102524 442976909 0.49670 0.54080 X PART I, LINE 2 WHITMAN COLLEGE ALSO QUALIFIES FOR PUBLIC CHARITY STATUS AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 4812 0 0 0 4812 0 PART II-B, LINE 1: $4,812 IS THE AMOUNT OF DUES PAID TO THE INDEPENDENT COLLEGES OF WASHINGTON ALLOCATED TO LOBBYING EFFORTS FOR INDEPENDENT COLLEGES OF WASHINGTON. 595000 3178140 X X X X 0 812714816 21839774 -150533180 10110816 17116362 1333125 655461107 560653503 4121039 317706785 11241253 15403808 43121450 812714816 539398364 5906621 57202221 10691838 14777756 16384109 560653503 534871675 7022776 31313093 10009928 14438023 9361229 539398364 492753694 5616288 72799836 9827166 14509468 11961509 534871675 0.29000 0.32000 0.39000 1 0 8290119 8479089 16769208 10201811 243843396 110054839 143990368 4365805 2616797 1749008 3178140 3178140 165686724 COMMINGLED TRUSTS 42063425 F ALTERNATIVE INVESTMENTS 371249040 F 413312465 1500000 POST RETIREMENT BENEFIT OBLIGATION 4875328 SPLIT INTEREST AGREEMENTS 13911749 DEFERRED COMPENSATION 1046702 REFUNDABLE ADVANCE 2218410 MED/DENTAL INS. TERMINAL LIABILITY 560507 ASSET RETIREMENT OBLIGATION 988223 25100919 X -81096860 -190534095 3543720 -186990375 105893515 2986507 47147575 50134082 156027597 90625266 0 90625266 2986507 40174165 43160672 133785938 PART III, LINE 4: THE COLLEGE HAS COLLECTIONS OF WORKS OF ART AND RARE BOOKS THAT ARE UTILIZED BY THE STUDENTS IN THEIR STUDIES AND THE FACULTY IN THEIR RESEARCH. PART V, LINE 4: ENDOWMENT FUNDS ARE USED SOLELY TO SUPPORT THE MISSION OF WHITMAN COLLEGE FOR COSTS SUCH AS FINANCIAL AID TO STUDENTS, FACULTY SALARIES AND THE LIBRARY. PART X, LINE 2: WHITMAN COLLEGE IS A QUALIFIED NOT-FOR-PROFIT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND AS SUCH, IS GENERALLY EXEMPT FROM FEDERAL TAXATION OF INCOME. CONTRIBUTIONS TO THE COLLEGE ARE GENERALLY TAX DEDUCTIBLE. THE 21ST CENTURY TRUST IS A SEPARATE QUALIFIED 501(C)(3) TAX ENTITY THAT IS CONSOLIDATED IN THESE FINANCIAL STATEMENTS. FOR THE YEARS ENDED JUNE 30, 2022 AND 2021, MANAGEMENT ESTIMATES THAT THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME TAX FROM ITS INVESTMENT ACTIVITY OF APPROXIMATELY $8,000,000 AND $8,205,000, RESPECTIVELY, WHICH IS TAXED AT THE FEDERAL CORPORATE TAX RATE OF 21%. ALL OF THE COLLEGE'S NET OPERATING LOSSES THAT WERE CARRIED FORWARD FROM PREVIOUS FISCAL YEARS OF APPROXIMATELY $4,191,000 WERE UTILIZED AS OF JUNE 30, 2021, THUS NONE ARE AVAILABLE FOR THE YEAR ENDED JUNE 30, 2022. AS A RESULT, MANAGEMENT ESTIMATES THAT THE COLLEGE HAS INCURRED A TAX LIABILITY PLUS POTENTIAL UNDERPAYMENT PENALTIES AT JUNE 30, 2022 AND 2021 TOTALING APPROXIMATELY $1,700,000 AND $865,000, RESPECTIVELY, OF WHICH $800,000 AND $865,000, RESPECTIVELY, NET OF TAX ESTIMATES PAID, HAVE BEEN RECORDED AS FEDERAL INCOME TAXES PAYABLE ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. ON DECEMBER 22, 2017, THE TAX CUTS AND JOBS ACT (THE ACT) WAS ENACTED. THE ACT IMPACTS THE COLLEGE IN THE ADDITION OF A FEDERAL EXCISE TAX OF 1.4% ON ITS NET INVESTMENT INCOME, OF WHICH THE FISCAL YEAR ENDED JUNE 30, 2022, IS THE FIRST YEAR THAT THE COLLEGE IS PAYING THIS EXCISE TAX, DUE TO MEETING THE THRESHOLD OF ITS ENDOWMENT VALUE BEING OVER $500,000 PER TUITION PAYING STUDENT AS OF JUNE 30, 2021. THE COLLEGE RECORDS AN ESTIMATE FOR RELATED TAX EXPENSE BASED ON CURRENTLY AVAILABLE REGULATORY GUIDANCE OF THE ACT, AND CONTINUES TO EVALUATE THE IMPACT OF THE ACT ON CURRENT AND FUTURE TAX POSITIONS. AN ESTIMATE OF THE COLLEGE'S TAX LIABILITY FOR THE FEDERAL EXCISE TAX IS $700,000 AT JUNE 30, 2022, WHICH HAS BEEN RECORDED AS FEDERAL INCOME TAXES PAYABLE ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET GAIN ON RATE EXCHANGE AGREEMENTS 3,575,598. LOSS ON UNCOLLECTIBLE PLEDGES -31,878. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAINS GENERATED FROM ALTERNATIVE INVESTMENTS 8,152,412. INSTITUTIONAL AID 40,174,163. CHANGE IN SPLIT INTEREST AGREEMENTS -1,179,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL AID 40,174,165. 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 MAKES ITS POLICY OF NON-DISCRIMINATION KNOWN THROUGH THE COLLEGE WEBSITE, THE ANNUAL CATALOG, AND OTHER MATERIALS. ADDITIONALLY, THE COLLEGE PLACES AN ADVERTISEMENT WHICH DESCRIBES ITS POLICY IN A REGIONAL NEWSPAPER EACH YEAR. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDS FROM THE DEPARTMENT OF EDUCATION TO BE GIVEN TO WHITMAN STUDENTS IN THE FORMS OF GRANTS AND LOANS. THE COLLEGE ALSO RECEIVES FUNDS FROM OTHER FEDERAL AGENCIES IN THE FORM OF GRANTS FOR RESEARCH EQUIPMENT, STUDY, OR OTHER EFFORTS AS STIPULATED IN EACH INDIVIDUAL GRANT. AS PART OF THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITIES (CARES) ACT 2020, THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT 2021 (CRRSSA), AND THE AMERICAN RESCUE PLAN ACT 2021 (ARPA) PASSED BY CONGRESS AND SIGNED INTO LAW, THE COLLEGE WAS AWARDED $3,912,945 TOTAL IN COVID-19 HIGHER EDUCATION EMERGENCY RELIEF FUNDS THROUGH THE EDUCATION STABILIZATION FUND. OF THESE EMERGENCY FUNDS, $1,774,783 WERE ALLOCATED FOR DIRECT STUDENT AWARDS AND $2,138,162 WERE ALLOCATED FOR INSTITUTIONAL AID. AS OF JUNE 30, 2022, ALL AWARDED FUNDING UNDER THESE PROGRAMS HAVE BEEN FULLY UTILIZED AND RECOGNIZED AS REVENUE. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING STUDENT FINANCIAL AID 124069 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTMAKING STUDENT FINANCIAL AID 78300 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTMAKING STUDENT FINANCIAL AID 14000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTMAKING STUDENT FINANCIAL AID 1772420 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTMAKING STUDENT FINANCIAL AID 84200 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 274075257 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 87000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 24408 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 3552 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 7855 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 26988 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 12175 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 50440 SOUTH ASIA 0 0 PROGRAM SERVICES OFF CAMPUS STUDIES 2175 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 9711 SOUTH AMERICA 0 0 PROGRAM SERVICES FACULTY AND STAFF CONFERENCES AND RESEARCH 2822 0 0 0 0 0 0 276259654 115718 276375372 STUDENT FINANCIAL AID CENTRAL AMERICA AND THE CARIBBEAN 6 78300 WIRE TRANSFER OR CHECK STUDENT FINANCIAL AID EAST ASIA AND THE PACIFIC 2 124069 WIRE TRANSFER OR CHECK STUDENT FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 58 1772420 WIRE TRANSFER OR CHECK STUDENT FINANCIAL AID MIDDLE EAST AND NORTH AFRICA 2 84200 WIRE TRANSFER OR CHECK STUDENT FINANCIAL AID SUB-SAHARAN AFRICA 1 14000 WIRE TRANSFER OR CHECK 1 0 1 1 1 0 PART I, LINE 2: THE GRANTMAKING ACTIVITIES SHOWN IN PARTS I AND III INVOLVE COLLEGE FINANCIAL AID FUNDS DELIVERED TO ENROLLED STUDENTS' INDIVIDUAL ACCOUNTS. THE AID IS TO HELP DEFRAY THE COST OF CERTAIN STUDY PROGRAMS TAKING PLACE IN FOREIGN COUNTRIES. ALL SUCH PROGRAMS ARE CLOSELY VETTED BY THE COLLEGE TO ENSURE THE RECIPIENTS ARE OF HIGH ACADEMIC QUALITY AND FINANCIALLY STABLE. ANY AID DELIVERED TO SUCH STUDENTS IS GOVERNED BY THE PROCESSES OUTLINED IN SCHEDULE E. PART I, LINE 3: THE AMOUNT ON PART I, LINE 3, COLUMN (F) FOR GRANTMAKING AND PROGRAM SERVICE EXPENSES REPRESENTS ACTUAL EXPENDITURES IN THE REGION FOR A TAXPAYER ON THE ACCRUAL BASIS OF ACCOUNTING. THE AMOUNT ON PART I, LINE 3, COLUMN (F) FOR INVESTMENTS ARE BASED UPON THE FAIR MARKET VALUE OF EACH FUND. PART III ACCOUNTING METHOD: THE AMOUNT ON PART III, COLUMN (D) REPRESENTS ACTUAL EXPENDITURES IN THE REGION FOR A TAXPAYER ON THE ACCRUAL BASIS OF ACCOUNTING. INVESTMENTS IN COLUMN (D) AND COLUMN (F) ARE BASED UPON THE FAIR MARKET VALUE OF EACH FUND. 1 INSTITUTIONAL FINANCIAL AID 1371 38101174 PART I, LINE 2: THE COLLEGE AWARDS SCHOLARSHIPS USING ESTABLISHED POLICIES ON THE BASIS OF BOTH NEED AND SCHOLARSHIP MERIT. AWARDS TO STUDENTS WITH NEED ARE BASED ON THE STUDENTS' FINANCIAL INFORMATION CONTAINED IN THE FINANCIAL AID PROFILE FILED WITH THE COLLEGE SCHOLARSHIP SERVICES AND THE FREE APPLICATION FOR FINANCIAL AID FILED WITH THE FEDERAL PROCESSOR. ALL AID IS OBJECTIVELY DETERMINED AND AWARDED ON AN EQUAL BASIS TO RECIPIENTS WITH SIMILAR ATTRIBUTES. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 KATHLEEN MURRAY PRESIDENT 472804 0 0 0 24946 0 27209 0 41760 0 566719 0 0 0 PETER HARVEY CHIEF FINANCIAL OFFICER 237869 0 0 0 15480 0 13400 0 37443 0 304192 0 0 0 ALZADA TIPTON PROVOST & DEAN OF FACULTY 223092 0 0 0 0 0 12080 0 50448 0 285620 0 0 0 STEVEN SETCHELL VICE PRESIDENT FOR DEVELOPMENT & ALU 227725 0 0 0 23768 0 13000 0 8652 0 273145 0 0 0 KAZIPUTALIMBA JOSHUA VICE PRESIDENT FOR STUDENT AFFAIRS/D 155835 0 0 0 19500 0 9630 0 79623 0 264588 0 0 0 PATRICK KEEF FACULTY 179318 0 0 0 0 0 9167 0 8652 0 197137 0 0 0 DAN TERRIO CHIEF INFORMATION OFFICER 165453 0 0 0 0 0 8848 0 16806 0 191107 0 0 0 PATRICK SPENCER FACULTY 162940 0 0 0 0 0 8356 0 11820 0 183116 0 0 0 SCOTT KLEINHEKSEL ASSOCIATE VICE PRESIDENT FOR DEVELOP 158289 0 0 0 0 0 8206 0 8652 0 175147 0 0 0 DAVID SCHMITZ FACULTY 155031 0 0 0 0 0 7565 0 8652 0 171248 0 0 0 KIMBERLY CHANDLER FACULTY 147057 0 0 0 0 0 0 0 7500 0 154557 0 0 0 PART I, LINE 1A THE COLLEGE PRESIDENT AND VICE PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS WERE PROVIDED MEMBERSHIPS IN SOCIAL CLUBS BY THE COLLEGE. THE AMOUNTS PAID FOR DUES WERE INCLUDED IN THEIR W-2 AS TAXABLE COMPENSATION. THE COLLEGE PRESIDENT IS REQUIRED, AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE, TO MAINTAIN THEIR PERSONAL RESIDENCE IN A HOUSE PROVIDED BY THE COLLEGE. THIS HOUSE IS LOCATED ON THE EDGE OF THE CAMPUS AND THE PROVISION OF SUCH IS NOT CONSIDERED TAXABLE COMPENSATION. THE PRESIDENT'S PERSONAL RESIDENCE (OWNED BY THE COLLEGE) IS PROVIDED CLEANING SERVICES AND YARD CARE BY THE COLLEGE. THIS IS NOT CONSIDERED TAXABLE COMPENSATION. A WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 939781U57 2017-01-05 18303824 FACILITIES CONSTRUCTION 0 0 0 B WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY 911306482 9397815K2 2021-11-30 26143436 REFUND BOND ISSUE FROM 6/10/08 0 0 0 A 1290000 18303824 376053 325296 17602475 2019 0 0 1 1 B 22290000 26143436 21328565 323871 4491000 2021 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: WASHINGTON HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/10/2022 SCHEDULE K, PART II, PROCEEDS, LINE 10A: FOR THE FISCAL YEAR 6/30/22, PART II, LINE 10, COLUMN A WAS REDUCED BY THE CAPITALIZED INTEREST THAT IS ALREADY REPORTED ON LINE 5. CARA SETCHELL SPOUSE OF STEVE SETCHELL, THE VP FOR DEVELOPMENT AND ALUMNI RELATIONS 75182 EMPLOYMENT 0 X 2 14000 MARKET VALUE X 68 11612908 MARKET VALUE X 2 2501000 MARKET VALUE X 1 5000 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN COLUMN (B) IS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC DRAFT COPY IS PROVIDED TO THE AUDIT COMMITTEE VIA WHITMAN'S BOARD MANAGEMENT SOFTWARE CALLED ONBOARD PRIOR TO THE MEETING. THE COMMITTEE DISCUSSES AND PROVIDES INPUT TO MANAGEMENT. THE COMMITTEE NEXT ACCEPTS THE FORM 990 AND IT IS MADE AVAILABLE TO THE BOARD OF TRUSTEES FOR REVIEW. AFTER THE TRUSTEES HAVE PROVIDED THEIR INPUT AND ALL QUESTIONS ARE RESOLVED, THE FORM 990 IS THEN FILED WITH THE IRS AND POSTED ON THE COLLEGE'S WEBSITE TO BE AVAILABLE TO THE PUBLIC. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, AND KEY EMPLOYEES ARE GIVEN A QUESTIONNAIRE ANNUALLY. THE QUESTIONNAIRE INCLUDES THE COLLEGE'S CONFLICT OF INTEREST POLICY AND ASKS EACH INDIVIDUAL ABOUT THE EXISTENCE OF CONFLICTS OF INTEREST, AS WELL AS OTHER PAYMENTS OR SITUATIONS WHICH COULD BE CONSTRUED TO PRESENT A CONFLICT. IF AN INDIVIDUAL ANSWERS ANY QUESTION IN THE AFFIRMATIVE, THEY ARE ASKED TO DESCRIBE THE SITUATION IN THEIR RESPONSE. IF THERE ARE ANY CONCERNS RELATIVE TO ANY ONE INDIVIDUAL'S RESPONSE, MANAGEMENT FOLLOWS UP TO DISCUSS HOW BEST TO DEAL WITH ANY IDENTIFIED SITUATIONS. MANAGEMENT VERIFIES ALL IDENTIFIED INDIVIDUALS HAVE RESPONDED. ALL THE RESPONSES ARE RETAINED IN ACCORDANCE WITH THE COLLEGE'S FILE RETENTION POLICY. TRUSTEES ARE REMINDED OF POTENTIAL CONFLICTS AT EACH MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE TRUSTEES DELEGATED AUTHORITY FOR SETTING THE PRESIDENT'S COMPENSATION TO THE EXECUTIVE COMMITTEE OF THE BOARD. COMPARABLE DATA FROM PEER INSTITUTIONS WAS USED IN THE DISCUSSION TO SET THE PRESIDENT'S COMPENSATION. THOSE DISCUSSIONS ARE SUMMARIZED IN A MEMO FROM THE CHAIR OF THE BOARD TO THE CFO. COMPARABLE DATA FROM PEER INSTITUTIONS FOR EACH POSITION WAS USED TO SET THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. THE TRUSTEES APPROVED THE COMPENSATION PACKAGES OF THE COLLEGE'S OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE PROVIDES ACCESS TO ITS FINANCIAL STATEMENTS VIA ITS WEBSITE. THE COLLEGE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 77,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 77,500. OTHER SERVICES: PROGRAM SERVICE EXPENSES 13,712,080. MANAGEMENT AND GENERAL EXPENSES 703,004. FUNDRAISING EXPENSES 183,922. TOTAL EXPENSES 14,599,006. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE EXCHANGE AGREEMENTS 1,179,000. CHANGE IN SPLIT INTEREST AGREEMENTS 3,575,598. UBI GAIN FROM PARTNERSHIPS -8,152,412. LOSS ON UNCOLLECTIBLE PLEDGES -31,878. WHITMAN COLLEGE 21ST CENTURY TRUST 345 BOYER AVENUE WALLA WALLA WA 99362 916526001 PROVIDE SUPPORT FOR WHITMAN COLLEGE WA 501(C)(3) LINE 12A, I BOARD OF TRUSTEES OF WHITMAN COLLEGE 1 CHARITABLE LEAD ANNUITY TRUST (1) 345 BOYER AVENUE WALLA WALLA WA 99362 HOLDINGS WA N/A 0 CHARITABLE REMAINDER TRUSTS (32) 345 BOYER AVENUE WALLA WALLA WA 99362 HOLDINGS WA N/A 0 POOLED INCOME FUNDS (2) 345 BOYER AVENUE WALLA WALLA WA 99362 HOLDINGS WA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0