2023-05-15T11:48:59-05:00 2022-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-07-01 231352635 FRANKLIN & MARSHALL COLLEGE FRAN 7173583925 PO BOX 3003 LANCASTER PA 176043003 SEAN GALLOWAY ASST. VP, TREASURY/CONTROLLER 7173583925 2023-05-11 1 SEAN GALLOWAY 999009999 KERRI N BOGDA CPA P00760402 7177404863 2023-05-11 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z BARBARA ALTMANN PO BOX 3003 LANCASTER PA 176043003 281845467 0 X WWW.FANDM.EDU X 1787 PA A RESIDENTIAL COLLEGE DEDICATED TO EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION. 33 32 2158 1291 448412 0 27265935 24465708 148397333 157714592 31542132 10978725 2313807 2957710 209519207 196116735 60836007 64217195 0 0 75750765 70827066 0 0 5007488 53585233 54835759 190172005 189880020 19347202 6236715 899256737 830931551 228039469 221796408 671217268 609135143 X FRANKLIN & MARSHALL COLLEGE IS A RESIDENTIAL COLLEGE DEDICATED TO EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION. ITS AIMS ARE TO INSPIRE IN YOUNG PEOPLE OF HIGH PROMISE AND DIVERSE BACKGROUNDS A GENUINE AND ENDURING LOVE FOR LEARNING, TO TEACH THEM TO READ, WRITE, AND THINK CRITICALLY, TO INSTILL IN THEM THE CAPACITY FOR BOTH INDEPENDENT AND COLLABORATIVE ACTION, AND TO EDUCATE THEM TO EXPLORE AND UNDERSTAND THE NATURAL, SOCIAL, AND CULTURAL WORLDS IN WHICH THEY LIVE. IN SO DOING, THE COLLEGE SEEKS TO FOSTER IN ITS STUDENTS QUALITIES OF INTELLECT, CREATIVITY, AND CHARACTER, THAT THEY MAY LIVE FULFILLING LIVES AND CONTRIBUTE MEANINGFULLY TO THEIR OCCUPATIONS, THEIR COMMUNITIES, AND THEIR WORLD. 0 0 41017697 0 135091547 INSTRUCTION: THE COLLEGE GRANTS BACHELOR OF ARTS DEGREES IN 60 FIELDS OF STUDY, WITH A FULL-TIME EQUIVALENT UNDERGRADUATE ENROLLMENT OF 1,986 DURING THE 2022 ACADEMIC YEAR. THE COLLEGE OFFERS AN INTEGRATED LEARNING ENVIRONMENT WHERE STUDENTS ENGAGE THE VALUES OF THE LIBERAL ARTS - BOTH THROUGH THE CURRICULUM AND IN THEIR LIVES OUTSIDE THE FORMAL CLASSROOM. OUR CURRENT STUDENT TO FACULTY RATIO IS 9 STUDENTS TO EVERY 1 FACULTY MEMBER, WITH AN AVERAGE CLASS SIZE OF 18 STUDENTS. 64051328 64051328 0 FINANCIAL AID: THE COLLEGE'S STRATEGIC PLAN INCLUDES A COMMITMENT TO MEET 100% OF EVERY STUDENT'S INSTITUTIONALLY DETERMINED NEED FOR ALL FOUR YEARS OF THEIR EDUCATION. TO THAT END, THE COLLEGE PROVIDES FINANCIAL AID TO 64.8% OF OUR STUDENTS, ALLOWING US TO RECRUIT EXTRAORDINARY TALENT FROM ALL BACKGROUNDS. THE CLASS OF 2026 ENROLLED 488 STUDENTS. THEY BOAST AN AVERAGE SAT SCORE OF 1325 AND AN AVERAGE ACT SCORE OF 30. 19468900 0 0 STUDENT SERVICES: THE COLLEGE OFFERS A VARIETY OF ACTIVITIES AND EXPERIENCES TO COMPLEMENT THE ACADEMIC PURSUITS OF OUR STUDENTS. THE OFFICE OF STUDENT ENGAGEMENT & LEADERSHIP OFFERS STUDENTS THE OPPORTUNITY TO PARTICIPATE IN DIPLOMATIC CONGRESS, CLUB COUNCIL, THE COLLEGE ENTERTAINMENT COMMITTEE, AND/OR ANY OF OVER 100 STUDENT CLUBS. STUDENTS MAY ALSO PARTICIPATE IN OVER 27 VARSITY, 5 INTRAMURAL, AND NUMEROUS CLUB SPORTS TEAMS. THE COLLEGE'S GREEK LIFE AND COLLEGE HOUSE SYSTEM PROMOTE A SENSE OF COMMUNITY AMONG ALL STUDENTS. 23303390 165867 22347466 AUXILIARY OPERATIONS: ACADEMIC SUPPORT, RESEARCH, PUBLIC SERVICE, AND INSTITUTIONAL SUPPORT. 23303390 165867 22347466 147841315 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 350 0 2158 1 1 1 1 UK 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA CO DC KY MD MA MI NH NY OR PA WA X SEAN GALLOWAY ASST VP TREASURYCONTROLLER 7173584210 PO BOX 3003 LANCASTER PA 176043003 RICARDO G RIVERS TRUSTEE 2.00 X 0 0 0 PAUL R BROWN PHD TRUSTEE 2.00 X 0 0 0 MOHAMMED A ANJARWALA TRUSTEE 2.00 X 0 0 0 MATTHEW J MURPHY TRUSTEE 2.00 X 0 0 0 AKBAR HOSSAIN TRUSTEE 2.00 X 0 0 0 LES J LIEBERMAN TRUSTEE 2.00 X 0 0 0 BARBARA K ALTMANN PHD PRESIDENT 60.00 X X 503388 0 95830 PATRICIA E HARRIS TRUSTEE 2.00 X 0 0 0 SUSAN KLINE KLEHR TRUSTEE - VICE CHAIR 4.00 X X 0 0 0 BENJAMIN J WINTER TRUSTEE - VICE CHAIR 4.00 X X 0 0 0 JONATHAN E BABKOW TRUSTEE 2.00 X 0 0 0 LAWRENCE G BRAITMAN TRUSTEE 2.00 X 0 0 0 ROBERT J BROOKS SR TRUSTEE 3.00 X 0 0 0 MODIA J BUTLER TRUSTEE 2.00 X 0 0 0 MATTHEW N DESCHAMPS TRUSTEE 3.00 X 0 0 0 DR JOAN M FALLON TRUSTEE 2.00 X 0 0 0 EVELYN N FARKAS PH D TRUSTEE 2.00 X 0 0 0 ANNE W FASS TRUSTEE 2.00 X 0 0 0 JOHN W GREENE JR TRUSTEE 3.00 X 0 0 0 SHAWN M JENKINS TRUSTEE 2.00 X 0 0 0 DAVID H LEHMAN TRUSTEE 2.00 X 0 0 0 DOUGLAS J MCCORMACK ESQ TRUSTEE 2.00 X 0 0 0 KENNETH B MEHLMAN TRUSTEE 2.00 X 0 0 0 JUDITH C FISHLOW MINTER TRUSTEE 2.00 X 0 0 0 ERIC W NOLL CHAIR 14.00 X X 0 0 0 RAYMOND A SANSEVERINO TRUSTEE 3.00 X 0 0 0 MARY L SCHAPIRO LHD TRUSTEE 2.00 X 0 0 0 LAURENCE A SHADEK TRUSTEE 2.00 X 0 0 0 STUART FARWELL SMITH TRUSTEE 2.00 X 0 0 0 H ART TAYLOR ESQ TRUSTEE-VICE CHAIR 4.00 X X 0 0 0 EDWARD D VAN DOLSEN TRUSTEE 3.00 X 0 0 0 COLLEEN ROSS WEIS TRUSTEE 3.00 X 0 0 0 KATHY HAY STINE TRUSTEE 2.00 X 0 0 0 MICHAEL J TODD VP FOR FINANCE & ADMINIST. 60.00 X 320659 0 38438 GRETCHEL L HATHAWAY VP-DIVERSITY, EQUITY, INCLUSION 60.00 X 178657 0 17596 JIMMIE A FOSTER VP FOR ENROLLMENT MANAGEMENT 60.00 X 218459 0 33045 MATTHEW K EYNON VP FOR COLLEGE ADVANCEMENT 60.00 X 331959 0 48723 MARGARET HAZLETT VP AND DEAN OF STUDENT AFFAIRS 60.00 X 244616 0 34263 CYNTHIA GORMAN INTERIM VP FOR COLLEGE ADVANCEMENT 60.00 X 204589 0 19138 ALAN CANIGLIA VP FOR STRATEGIC INITIATIVES 60.00 X 194162 0 24219 CARRIE E RAMPP VP & CHIEF INFORMATION OFFICER 60.00 X 204008 0 24984 BARBARA S STAMBAUGH VP FOR COMMUNICATIONS 60.00 X 208701 0 25134 CAMERON B WESSON PROVOST AND DEAN OF THE FACULTY 60.00 X 280043 0 23791 SUSAN DICKLITCH-NELSON PROFESSOR OF GOVERNMENT 40.00 X 155064 0 19724 MALCOLM GREEN HAYNES AVP OF FINANCE 40.00 X 193056 0 14190 BETH L THRONE AVP STUDENT & POST-GRAD. DEVEL. 40.00 X 179386 0 9403 ALAN S GLAZER PROFESSOR OF BUSINESS 40.00 X 177535 0 17860 MARCUS W THOMSEN PROFESSOR OF CHEMISTRY 40.00 X 161718 0 22420 PIERCE BULLER GENERAL COUNSEL (RES. 6/21) 60.00 X 165388 0 10810 3921388 0 479568 123 1 1 0 SODEXO INC & AFFILIATES 4880 PAYSPHERE CIRCLE CHICAGO IL 606740048 FOOD SERVICES MGMT. 5289498 LANCASTER GENERAL MEDICAL GRP 1030 NEW HOLLAND AVE BUILDING 12A LANCASTER PA 176015689 STUDENT HEALTH SVCS. 1563289 MEDICAL STAFFING NETWORK 1891 SANTA BARBARA DR STE 204 LANCASTER PA 17601 COVID-19 TESTING ADMINISTRATION 560945 KEELING & ASSOCIATES 55 HARRY KEMP WAY PROVINCETOWN MA 02657 BUSINESS CONSULTING 342075 STORBECK SEARCH & ASSOCIATES 1400 N PROVIDENCE RD STE 3500 MEDIA PA 19063 EXECUTIVE SEARCH SERVICES 263264 9 5964305 18501403 4707187 24465708 TUITION & FEES 611310 135091547 135091547 AUXILIARY OPERATIONS 721310 22623045 22347466 275579 157714592 871939 99008 772931 19392 19392 1062118 652794 409324 409324 409324 94732724 450000 85030169 45769 9702555 404231 10106786 10106786 RESEARCH INCOME 900099 910147 73825 836322 INDIRECT COST RECOVERY 900099 406413 406413 INTERDEPARTMENTAL REVENUE 900099 302000 302000 910434 910434 2528994 196116735 157439013 448412 13763602 165867 165867 58936719 58936719 5114609 5114609 3673129 1161403 1569694 942032 51372423 37763109 12017304 1592010 4050131 2997264 920422 132445 7962587 5705348 1921245 335994 3768796 2730259 887112 151425 461018 16823 444195 183880 183880 1991812 1991812 12767171 10336831 2126263 304077 127964 77228 47963 2773 4447131 2095445 1813090 538596 2093399 215905 1743166 134328 3956680 2840162 1116268 250 1879708 1727679 113551 38478 211388 157028 42019 12341 4667651 123538 4544113 12998300 9241670 3177820 578810 1262413 471 1261942 REPAIRS & EQUIP. MAINT. 2586885 1867352 718598 935 EQUIPMENT & BOOKS 1718133 1708090 9074 969 OFF CAMPUS PROGRAMS 1249690 1249690 OTHER EXPENSES 1245309 885404 304452 55453 987227 723421 77234 186572 189880020 147841315 37031217 5007488 -663369 -1341106 12861521 20100218 20012247 22861670 2773089 5807868 644485 2100708 506841240 192319507 324601141 314521733 95821565 116223195 428800432 332165947 6770683 5674084 7634943 12817234 899256737 830931551 4956846 5995521 1347039 3205422 108460495 105239354 924298 998532 3627710 3317277 108723081 103040302 228039469 221796408 X 323027330 305632147 348189938 303502996 671217268 609135143 899256737 830931551 X 6236715 -69389123 1070283 X 0 1 X 1 1 1 X 24693214 19848800 18508987 27265935 24465708 114782644 24693214 19848800 18508987 27265935 24465708 114782644 3772390 111010254 11584314 12499752 18513282 6787670 1854441 51239459 3432120 3454623 2527670 1859312 2455169 13728894 179750997 785981484 0.61760 0.59710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INTERDEPARTMENTAL REVENUE - 2019 AMOUNT: $ 363,497. 2021 AMOUNT: $ 302,000. PROGRAM FEES - 2020 AMOUNT: $ 360,645. 2021 AMOUNT: $ 36,451. ACTIVITIES FEES - 2017 AMOUNT: $ 259,523. INDIRECT COST RECOVERY - 2017 AMOUNT: $ 375,806. 2018 AMOUNT: $ 319,660. 2019 AMOUNT: $ 270,145. 2020 AMOUNT: $ 367,587. 2021 AMOUNT: $ 406,413. MEMBERSHIP INCOME - 2017 AMOUNT: $ 467,895. 2018 AMOUNT: $ 512,136. 2019 AMOUNT: $ 48,123. 2021 AMOUNT: $ 23,665. RESEARCH - 2017 AMOUNT: $ 986,929. 2018 AMOUNT: $ 1,152,088. 2019 AMOUNT: $ 1,127,194. 2020 AMOUNT: $ 839,874. 2021 AMOUNT: $ 836,322. OTHER - 2017 AMOUNT: $ 1,341,967. 2018 AMOUNT: $ 1,470,739. 2019 AMOUNT: $ 718,711. 2020 AMOUNT: $ 291,206. 2021 AMOUNT: $ 583,945. REIMBURSEMENTS - 2021 AMOUNT: $ 171,340. PERKINS LOANS - 2021 AMOUNT: $ 95,033. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 0 1 X 441320443 6910075 -52442327 6756279 11561635 1914442 375555835 326941394 6268612 129279816 6558470 11765973 2844936 441320443 330289650 4908823 10239483 5917345 11517703 1061514 326941394 326728378 5522438 16275849 5778255 11389973 1068787 330289650 310402781 8663670 26081178 5632864 11670601 1115786 326728378 0.34740 0.36310 0.28950 0 0 19562 22940407 22959969 661452 409156922 129075028 280743346 72775146 62052757 10722389 1287751 1191722 96029 314521733 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 15215867 F ALTERNATIVE INVESTMENTS 316950080 F 332165947 POSTRETIREMENT BENEFIT OBLIGATIONS 15729868 ANNUITY OBLIGATIONS 17013924 FIN 47 OBLIGATION 7241528 CONTRACT LIABILITY 1007602 CAPITAL LEASE LIABILITY 62047380 103040302 X 66711506 -69389123 -60668900 -130058023 196769529 -652794 -652794 196116735 128621602 2353441 2353441 126268161 63611859 63611859 189880020 PART III, LINE 1A: COLLECTION ITEMS CONSIST OF ARTWORKS, RARE BOOKS, AND OTHER OBJECTS THAT HAVE COME TO THE COLLEGE AND MILLPORT CONSERVANCY PRINCIPALLY THROUGH GIFTS, ALTHOUGH SOME WERE PURCHASED AND CERTAIN OF THE COLLECTIONS WERE RECEIVED IN TRUST. THE COLLECTION IS HELD FOR PUBLIC EXHIBITION AND EDUCATION AND IS PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED. EACH OF THESE ITEMS IS CATALOGUED, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS' INSURANCE - APPRAISED VALUE IS APPROXIMATELY $11,174,000. THE COLLECTIONS ARE NOT RECOGNIZED AS ASSETS IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS PERMITTED BY GAAP. PURCHASES OF COLLECTION ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS REDUCTIONS IN TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PROCEEDS FROM DEACCESSIONS ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. NO COLLECTION ITEMS WERE DEACCESSIONED IN 2022 OR 2021. PART III, LINE 4: THE COLLEGE'S COLLECTIONS CONTAIN REGIONAL AND INTERNATIONAL WORKS OF ART, RARE BOOKS, CULTURAL OBJECTS, AND HISTORICAL OBJECTS. THEY ADVANCE THE INSTRUCTIONAL, ACADEMIC SUPPORT, AND PUBLIC SERVICE PURPOSES OF THE COLLEGE BY EXHIBITION AND USE BY FACULTY, STUDENTS, AND THE COMMUNITY, VIA LOCAL AND ONLINE ACCESS. PART IV, LINE 2B: FRANKLIN & MARSHALL HOSTS A NUMBER OF CUSTODIAL ACCOUNTS FOR WHICH THE COLLEGE ACTS AS THE AGENT. THESE FUNDS ARE PRIMARILY FEDERAL PERKINS LOAN FUNDS AS WELL AS FUNDS HELD FOR THE COLLEGE'S WHOLLY-OWNED SUBSIDIARY. THE AMOUNT REPORTED ON THE BALANCE SHEET ALSO INCLUDES FUNDS HELD FOR STUDENT ORGANIZATIONS SUCH AS GREEK LIFE. PART V, LINE 4: OF THE TOTAL ENDOWMENT, 36.4% IS INTENDED FOR STUDENT AID, 33.5% FOR GENERAL UNRESTRICTED PURPOSES, 13.7% FOR OPERATIONS AND MAINTENANCE, 16.4% FOR INSTRUCTION, AND THE REMAINDER FOR MISCELLANEOUS RESTRICTED PURPOSES. PART X, LINE 2: UNDER PROVISIONS OF INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND THE APPLICABLE INCOME TAX REGULATIONS OF PENNSYLVANIA, THE COLLEGE IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. SINCE THE COLLEGE HAD NO MATERIAL NET UNRELATED BUSINESS INCOME DURING THE YEARS ENDED JUNE 30, 2022 AND 2021, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. THE COLLEGE DOES NOT BELIEVE THAT THERE ARE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR COSTS THAT SHOULD BE RECORDED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN ANNUITY OBLIGATIONS -2,032,312. CHANGES IN CASH SURRENDER VALUE 153,300. CHANGES IN PLEDGE DISCOUNTS AND ALLOWANCES -922,018. CHANGE IN POST RETIREMENT BENEFIT OBLIGATION 4,396,523. DE-CONSOLIDATION OF MILLPORT CONSERVANCY AND ASE REVENUE 1,347,466. STUDENT FINANCIAL AID -61,614,914. INVESTMENT MANAGEMENT FEES -1,996,945. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -652,794. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 652,794. DE-CONSOLIDATION OF MILLPORT CONSERVANCY AND ASE EXPENSES 1,700,647. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 1,996,945. STUDENT FINANCIAL AID 61,614,914. 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 COMPLIES WITH SECTION 4.03 BECAUSE A) STUDENTS ARE DRAWN FROM A LARGE DEMOGRAPHIC AREA, AND B) THE COLLEGE COMPLIES WITH SECTION 4.02 REQUIREMENTS. SCHEDULE E, PART I, LINE 6 THE COMMONWEALTH OF PENNSYLVANIA ANNUALLY PROVIDES AN INSTITUTIONAL ASSISTANCE GRANT TO THOSE INSTITUTIONS THAT DO NOT RECEIVE FUNDING FROM THE STATE VIA BUDGET APPROPRIATION. THIS GRANT IS BASED ON THE TOTAL NUMBER OF STUDENTS RECEIVING STATE HIGHER EDUCATION GRANTS. AS A RESPONSE TO COVID-19, THE CORONAVIRUS AID RELIEF AND ECONOMICS SECURITY (CARES) ACT WAS ENACTED AND PROVIDED BUDGETARY RELIEF TO HIGHER EDUCATION INSTITUTIONS. THE COLLEGE RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) FUNDING. 0 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ADMISSIONS RECRUITMENT 3293 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 39264 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 9116 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 352843 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 4864 NORTH AMERICA 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 4509 SOUTH AMERICA 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 18963 SOUTH ASIA 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 5886 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES CONF/RESEARCH/TRAVEL 7659 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 31775 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 31503 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 875608 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 46681 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 83486 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 18325 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 36400 CENTRAL AMERICA AND THE CARIBBEAN 0 0 FINANCIAL AID 268972 EAST ASIA AND THE PACIFIC 0 0 FINANCIAL AID 1909303 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FINANCIAL AID 959061 MIDDLE EAST AND NORTH AFRICA 0 0 FINANCIAL AID 324492 NORTH AMERICA 0 0 FINANCIAL AID 76718 RUSSIA AND NEIGHBORING STATES 0 0 FINANCIAL AID 75718 SOUTH AMERICA 0 0 FINANCIAL AID 388656 SOUTH ASIA 0 0 FINANCIAL AID 1102448 SUB-SAHARAN AFRICA 0 0 FINANCIAL AID 618132 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 23067208 0 0 0 0 0 0 438738 29922145 30360883 STUDENT SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 4 0 256972 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS EAST ASIA AND THE PACIFIC 44 0 1711018 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 17 0 871095 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 4 0 275166 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS NORTH AMERICA 1 0 70718 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 1 0 75718 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS SOUTH AMERICA 5 0 347552 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS SOUTH ASIA 18 0 978238 REDUCTION TO TUITION AND FEES BOOK STUDENT SCHOLARSHIPS SUB-SAHARAN AFRICA 9 0 528132 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS CENTRAL AMERICA AND THE CARIBBEAN 2 0 12000 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS EAST ASIA AND THE PACIFIC 33 0 198285 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS EUROPE (INCLUDING ICELAND & GREENLAND) 15 0 87966 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS MIDDLE EAST AND NORTH AFRICA 4 0 49326 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS NORTH AMERICA 1 0 6000 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS SOUTH AMERICA 4 0 41104 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS SOUTH ASIA 17 0 124210 REDUCTION TO TUITION AND FEES BOOK STUDENT LOANS SUB-SAHARAN AFRICA 8 0 90000 REDUCTION TO TUITION AND FEES BOOK 1 0 1 1 1 0 PART I, LINE 2: STUDENT SCHOLARSHIPS AND LOANS ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS. TRAVEL AND STUDENT RESEARCH GRANTS REQUIRE SUBSTANTIATION. PART III ACCOUNTING METHOD: SCHEDULE F, PART IV: THE ORGANIZATION HAS INVESTMENTS IN VARIOUS FOREIGN-DOMICILED ENTITIES, INCLUDING BOTH CORPORATIONS AND PARTNERSHIPS. THEY HAVE AN INVESTMENT IN A FOREIGN ORGANIZATION OVER WHICH THEY HAVE CONTROL AND FOR WHICH THEY FILE A FORM 5471. THEY MAY HAVE TRANSFERS WHICH EXCEED THE THRESHOLD FOR FILING FORMS 926 AND 8865. IF SO, THE NECESSARY FORMS WILL BE ATTACHED TO THIS RETURN. 1 FULTON THEATRE PO BOX 1865 LANCASTER PA 176081865 231631733 501(C)(3) 7500 0 STAGE PRODUCTIONS LANCASTER CITY ALLIANCE 354 N PRINCE STREET LANCASTER PA 176033085 463353021 501(C)(3) 120000 0 LANCASTER CITY EDP LANCASTER GENERAL HEALTH FOUNDATION 609 N CHERRY ST LANCASTER PA 176022201 231365353 501(C)(3) 12500 0 GENERAL SUPPORT LANCASTER CHAMBER OF COMMERCE 115 E KING ST LANCASTER PA 176022826 232095463 501(C)(3) 7500 0 GENERAL SUPPORT 4 PRIZES AND AWARDS 1756 143097 55819 COST NON-CASH PRIZES STUDENT RESEARCH AND TRAVEL GRANTS 64 207251 235 COST SUPPLIES, TRAVEL EXPENSE STUDENT SCHOLARSHIPS 1168 56500305 COST TUITION REDUCTIONS HEERF STUDENT AID GRANTS 1224 2030012 COST PART I, LINE 2: STUDENT SCHOLARSHIPS ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS. TRAVEL AND STUDENT RESEARCH GRANTS REQUIRE SUBSTANTIATION. ALL GRANTS TO OTHER ORGANIZATIONS ARE REVIEWED BY THE COLLEGE TO DETERMINE THAT THE RECIPIENT'S MISSION ALIGNS WITH THAT OF THE COLLEGE. COLLEGE POLICY STRICTLY PROHIBITS CONTRIBUTIONS TO POLITICAL ORGANIZATIONS OR EVENTS. PART III: ACCOUNTING FOR CASH AND NONCASH ASSISTANCE: PAYMENTS/REIMBURSEMENTS DIRECTLY TO RECIPIENTS ARE CONSIDERED CASH ASSISTANCE. PAYMENTS TO VENDORS ON BEHALF OF RECIPIENTS OR THE PURCHASE OF NONCASH ITEMS TO BE GIVEN TO RECIPIENTS ARE CONSIDERED NONCASH ASSISTANCE. PART III, COLUMN B: NUMBER OF RECIPIENTS THE NUMBER OF RECIPIENTS FOR STUDENT SCHOLARSHIPS IS BASED ON FINANCIAL AID RECORDS OF RECIPIENTS. THE NUMBER OF RECIPIENTS FOR PRIZES AND AWARDS IS ESTIMATED BASED ON THE NUMBER OF PAYEES (CASH PRIZES/AWARDS), AND THE NUMBER OF RECIPIENTS BENEFITTED OR NUMBER OF ITEMS PURCHASED (NONCASH PRIZES/AWARDS). THE NUMBER OF RECIPIENTS FOR STUDENT RESEARCH AND TRAVEL GRANTS IS ESTIMATED BASED ON THE NUMBER OF PAYEES (CASH GRANTS), AND/OR THE NUMBER OF RESEARCH PROJECTS FUNDED (CASH AND NONCASH GRANTS). X X X X 1 1 X X X 0 0 0 0 0 0 0 1 0 BARBARA K ALTMANN PHD PRESIDENT 499374 0 0 0 4014 0 51000 0 44830 0 599218 0 0 0 MATTHEW K EYNON VP FOR COLLEGE ADVANCEMENT 328160 0 0 0 3799 0 16103 0 32620 0 380682 0 0 0 MICHAEL J TODD VP FOR FINANCE & ADMINIST. 320659 0 0 0 0 0 16500 0 21938 0 359097 0 0 0 CAMERON B WESSON PROVOST AND DEAN OF THE FACULTY 280043 0 0 0 0 0 14917 0 8874 0 303834 0 0 0 MARGARET HAZLETT VP AND DEAN OF STUDENT AFFAIRS 214616 0 0 0 30000 0 10922 0 23341 0 278879 0 0 0 JIMMIE A FOSTER VP FOR ENROLLMENT MANAGEMENT 218459 0 0 0 0 0 11250 0 21795 0 251504 0 0 0 BARBARA S STAMBAUGH VP FOR COMMUNICATIONS 208701 0 0 0 0 0 10500 0 14634 0 233835 0 0 0 CARRIE E RAMPP VP & CHIEF INFORMATION OFFICER 204008 0 0 0 0 0 10350 0 14634 0 228992 0 0 0 CYNTHIA GORMAN INTERIM VP FOR COLLEGE ADVANCEMENT 204589 0 0 0 0 0 10380 0 8758 0 223727 0 0 0 ALAN CANIGLIA VP FOR STRATEGIC INITIATIVES 194162 0 0 0 0 0 10860 0 13359 0 218381 0 0 0 MALCOLM GREEN HAYNES AVP OF FINANCE 193056 0 0 0 0 0 0 0 14190 0 207246 0 0 0 GRETCHEL L HATHAWAY VP-DIVERSITY, EQUITY, INCLUSION 178657 0 0 0 0 0 9000 0 8596 0 196253 0 0 0 ALAN S GLAZER PROFESSOR OF BUSINESS 177535 0 0 0 0 0 9811 0 8049 0 195395 0 0 0 BETH L THRONE AVP STUDENT & POST-GRAD. DEVEL. 179386 0 0 0 0 0 8970 0 433 0 188789 0 0 0 MARCUS W THOMSEN PROFESSOR OF CHEMISTRY 161718 0 0 0 0 0 8436 0 13984 0 184138 0 0 0 PIERCE BULLER GENERAL COUNSEL (RES. 6/21) 165388 0 0 0 0 0 0 0 10810 0 176198 0 0 0 SUSAN DICKLITCH-NELSON PROFESSOR OF GOVERNMENT 155064 0 0 0 0 0 6590 0 13134 0 174788 0 0 0 PART I, LINE 1A PRESIDENT - COLLEGE OWNED PROPERTY HOUSING IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE AND IS A CONDITION OF EMPLOYMENT. CUSTODIAL SERVICES ARE PROVIDED TO MAINTAIN AND REFRESH THE PROPERTY FOR COLLEGE EVENTS AND ACTIVITIES HELD AT THE RESIDENCE. THE HOUSING AND CUSTODIAL SERVICES ARE NOT INCLUDED IN TAXABLE COMPENSATION. THE COLLEGE REIMBURSES HEALTH/SOCIAL CLUB DUES AND BUSINESS EXPENSES. THESE REIMBURSEMENTS ARE NOT INCLUDED IN TAXABLE COMPENSATION TO THE EXTENT THAT THEY ARE USED FOR BUSINESS PURPOSES. TAXABLE COMPENSATION IS PAID TO ACCOUNT FOR TAXES ON ADDITIONAL LIFE AND LTD INSURANCE PREMIUMS. A COLLEGE LEASED VEHICLE IS PROVIDED FOR TRAVEL RELATED ACTIVITIES. THE VEHICLE IS USED ONLY FOR BUSINESS PURPOSES. VP OF COLLEGE ADVANCEMENT - THE COLLEGE, FOR COLLEGE BUSINESS PURPOSES, REIMBURSES HEALTH/SOCIAL CLUB DUES AND BUSINESS EXPENSES. THESE REIMBURSEMENTS ARE NOT INCLUDED IN TAXABLE COMPENSATION. TAXABLE COMPENSATION IS PAID TO ACCOUNT FOR TAXES ON ADDITIONAL LIFE AND LTD INSURANCE PREMIUMS. DEAN OF STUDENT AFFAIRS: COLLEGE-OWNED HOUSING IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE AND IS A CONDITION OF EMPLOYMENT. PART I, LINE 7 THE COMPENSATION COMMITTEE, FOLLOWING THE RECOMMENDATION OF THE PRESIDENT, ESTABLISHES APPROPRIATE BONUS COMPENSATION, IF ANY, FOR SENIOR OFFICERS. THIS DETERMINATION IS MADE USING BOTH FINANCIAL AND NON-FINANCIAL MEASURES, SUCH AS PERFORMANCE REVIEWS, APPLICABLE EMPLOYMENT AGREEMENTS, AND OTHER FACTORS. A LANCASTER HIGHER EDUCATION AUTHORITY 232224897 2016-01-27 70000000 REFINANCE 5/1/2006 ISSUE AND FINANCING NEW STADIUM 0 0 0 B LANCASTER HIGHER EDUCATION AUTHORITY 232224897 2016-09-22 32830000 REFINANCE 6/19/2008 BOND ISSUE 1 0 0 C LANCASTER HIGHER EDUCATION AUTHORITY 232224897 2018-01-17 25000000 FINANCE APPROVED CAPITAL PROJECT 0 0 0 A 15025000 70000000 527626 159025 19382409 50000000 2019 1 0 1 1 B 2135000 30000000 32830000 164165 7147 2017 0 1 1 1 C 5021000 25000000 150223 24849777 2020 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 X 8 1550005 APPRAISAL X 56 3148005 NYSE X EVENT EXPENSE 18 8676 PURCHASE PRICE X MUSICAL INSTRUMENTS 2 501 APPRAISAL 4 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IN COLUMN B REPRESENTS THE FOLLOWING: THE NUMBER FOR ART OBJECTS AND MUSICAL INSTRUMENTS REPRESENTS OBJECTS RECEIVED. THE EVENT EXPENSE REPRESENTS THE NUMBER OF EVENTS SUPPORTED. THE NUMBER OF STOCK GIFTS REPRESENTS INDIVIDUAL STOCK GIFTS. PART I, LINE 32B: DURING ACCESSION AND DEACCESSION OF COLLECTION ITEMS, APPRAISERS AND AUCTION SERVICES MAY BE USED. FORM 990, PART VI, SECTION A, LINE 1A THE COLLEGE HAS AN EXECUTIVE COMMITTEE WHICH IS AUTHORIZED TO ACT IN PLACE OF THE FULL BOARD AT ALL TIMES. THE COMMITTEE IS COMPOSED OF 11 MEMBERS OF THE BOARD, INCLUDING THE PRESIDENT, DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT ASSEMBLES ALL DATA NECESSARY TO COMPLETE THE FORM 990 AND ENLISTS AN OUTSIDE PUBLIC ACCOUNTING FIRM TO PREPARE AND REVIEW THE FORM. AN INTERNAL REVIEW BY THE FINANCE ADMINISTRATION IS PERFORMED ONCE THE ACCOUNTING FIRM COMPLETES ITS WORK. THE AUDIT COMMITTEE NEXT REVIEWS THE RETURN, AND ALL COMMENTS ARE ADDRESSED TO AND ANSWERED BY BOTH THE PUBLIC ACCOUNTING FIRM AND INTERNAL PERPARERS. ONCE ALL EXTERNAL AND INTERNAL REVIEW IS COMPLETE, A COPY OF THE FORM 990 IS SUPPLIED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO THE RETURN'S FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS CIRCULATED TO OFFICERS AND TRUSTEES ANNUALLY, REQUESTING A DECLARATION AND EXPLANATION OF POTENTIAL CONFLICTS WITH PROFESSIONAL AND OTHER DUTIES, INCLUDING MEMBERSHIP ON OTHER BOARDS. THE EXECUTIVE COMMITTEE OF THE BOARD MONITORS THE POLICY THROUGH THIS ANNUAL PROCESS. OFFICERS AND TRUSTEES CANNOT PARTICIPATE IN DELIBERATIONS OR ACTIONS BY THE COLLEGE WITH RESPECT TO ANY PROPOSED TRANSACTION OR RELATIONSHIP WITH RESPECT TO WHICH THE TRUSTEE OR OFFICER HAS A FINANCIAL INTEREST OR OTHER CONFLICT OF INTERETS. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPRESSLY MENTIONED IN THE CONFLICT OF INTEREST POLICY AS BEING POSSIBLE SOURCES OF CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR, PERFORMANCE REVIEWS ARE CONDUCTED BETWEEN FEBRUARY AND MAY FOR SENIOR OFFICERS (PRESIDENT, VICE PRESIDENTS, PROVOST, AND DEAN OF THE COLLEGE). INDEPENDENTLY - GATHERED COMPARISON COMPENSATION DATA IS REVIEWED BY THE COMPENSATION COMMITTEE, AND EXECUTIVE COMPENSATION DETERMINATIONS ARE MADE BY THE COMMITTEE BASED ON PERFORMANCE AND BENCHMARK DATA THAT MAINTAIN EXECUTIVE COMPENSATION WITHIN FAIR MARKET RANGE FOR HIGHER EDUCATION. COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE COMMITTEE'S MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN ANNUITY OBLIGATIONS -2,032,312. CHANGE IN CASH SURRENDER VALUE 153,300. CHANGES TO POST-RETIREMENT BENEFITS 4,396,523. GROSS UP TO CONTRIBUTIONS FOR CHANGES TO DISCOUNTS AND ALLOWANCE -922,018. ASE -525,210. MILLPORT CONSERVANCY 737 E MILLPORT ROAD LITITZ PA 17543 222436077 NATURE PRESERVATION PA 501(C)(3) PF N/A 0 NW GATEWAY PROJECT PO BOX 3003 LANCASTER PA 17604 611625128 LAND ACQUISITION PA N/A EXCLUDED 15806187 0 1 0.50000 CHARITABLE REMAINDER UNITRUST (1) INVESTMENTS MT FRANKLIN AND MARSHALL COLLEGE T 0 CHARITABLE REMAINDER UNITRUST (1) INVESTMENTS DE FRANKLIN AND MARSHALL COLLEGE T 0 FOX ADELE W (CHARIT) C/O WILMINGTON TRUST INVESTMENT GRO BUFFALO NY 14240 256859971 INVESTMENTS PA WILMINGTON TRUST COMPANY T 123072 1402665 0.76000 0 SPLIT INTEREST TRUST (1) INVESTMENTS VA FRANKLIN AND MARSHALL COLLEGE T 0 FRENCH MARION T C/O FULTON FINANCIAL ADVISORS ONE P LANCASTER PA 19604 311604263 INVESTMENTS PA FULTON FINANCIAL ADVISORS T 15673 321494 1.00000 0 CHARITABLE REMAINDER UNITRUST (1) INVESTMENTS FL PNC BANK T 0 SPLIT INTEREST TRUST (1) INVESTMENTS TX FRANKLIN AND MARSHALL COLLEGE T 0 SPLIT INTEREST TRUST (1) INVESTMENTS FL FRANKLIN AND MARSHALL COLLEGE T 0 CHARITABLE REMAINDER UNITRUST (1) INVESTMENTS PA MORGAN STANLEYSMITH BARNEY T 0 SPLIT INTEREST TRUST (1) INVESTMENTS MN FRANKLIN AND MARSHALL COLLEGE T 0 PLANK ELSIE C/O BNY MELLON WEALTH MGMT 1735 MAR PHILADELPHIA PA 19103 236241620 INVESTMENTS PA BNY MELLON WEALTH MGT T 1.00000 0 SPLIT INTEREST TRUST (3) INVESTMENTS NJ FRANKLIN AND MARSHALL COLLEGE T 0 WALTERS ART PNC WEALTH MGMT 101 NORTH POINTE BL LANCASTER PA 17601 566624021 INVESTMENTS PA PNC WEALTH MGT T 255822 6068434 1.00000 0 ADVANCED STUDIES IN ENGLAND LTD 2 PIERREPONT STREET BATH UK STUDY ABROAD UK N/A C 545805 3458138 1.00000 0 SPLIT INTEREST TRUST (1) INVESTMENTS NC FRANKLIN AND MARSHALL COLLEGE T 0 SPLIT INTEREST TRUST (1) INVESTMENTS WA FRANKLIN AND MARSHALL COLLEGE T 0 SPLIT INTEREST TRUST (23) INVESTMENTS PA FRANKLIN AND MARSHALL COLLEGE T 0 SPLIT INTEREST TRUST (1) INVESTMENTS NJ FRANKLIN AND MARSHALL COLLEGE T 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0