2023-05-12T12:25:49-05:00 2022-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2021-07-01 010215213 BOWDOIN COLLEGE BOWD 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 REBECCA COREY CONTROLLER 2077215078 2023-05-09 1 REBECCA COREY XXX-XX-XXXX TARA KENNEY P01245482 6179881000 2023-05-03 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z CLAYTON ROSE 5400 COLLEGE STATION BRUNSWICK ME 040118445 719459000 0 X WWW.BOWDOIN.EDU X 1794 ME FOUR-YEAR PRIVATE UNDERGRADUATE LIBERAL ARTS COLLEGE. SEE SCHEDULE O 43 42 2633 2012 7679000 0 38857000 49006000 111894000 142176000 207621000 219551000 685000 1045000 359057000 411778000 47396000 55513000 0 0 114195000 123872000 15000 2000 7687000 78735000 76200000 240341000 255587000 118716000 156191000 3297186000 3102956000 378841000 436812000 2918345000 2666144000 X *SEE SCHEDULE O* 0 0 218680000 55513000 143240000 DURING FISCAL YEAR 2022, BOWDOIN ENROLLED 1,874 FULL-TIME EQUIVALENT (FTE) STUDENTS, NOT INCLUDING 74 FTE STUDENTS WHO STUDIED OFF CAMPUS; 93% COMPLETE THE DEGREE WITHIN FIVE YEARS; THE STUDENT/FACULTY RATIO IS 9:1; 100% OF FACULTY HAS A PH.D. OR EQUIVALENT. AS OF JUNE 2022, 42,434 STUDENTS HAVE MATRICULATED AT BOWDOIN COLLEGE, AND 33,918 DEGREES IN ACADEMIC PROGRAMS HAVE BEEN AWARDED. 218680000 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 1 1 1 1 0 1 0 0 0 0 1 0 1 0 1 1 0 0 1 1 1 1 0 0 1 477 0 1 2633 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 1 1 X 43 42 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X REBECCA COREY 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 PAULA VOLENT SVP/CHIEF INVESTMENT OFFICER 40.00 X 2652443 0 10549 K NILES BRYANT SVP/CHIEF INVESTMENT OFFICER 40.00 X 1550187 0 74411 SCOTT MEIKLEJOHN SVP FOR DVT & ALUMNI RELATIONS 40.00 X 377473 0 363950 CLAYTON ROSE PRESIDENT 40.00 X X 503393 0 122111 PAGE MACHLIN DIRECTOR OF INVESTMENTS 40.00 X 477221 0 44805 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 40.00 X 405450 0 66777 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 40.00 X 378721 0 85054 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 40.00 X 317824 0 70754 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 40.00 X 309858 0 67221 MICHAEL REED SVP FOR INCLUSION & DIVERSITY 40.00 X 327196 0 44815 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 40.00 X 298994 0 69879 MICHAEL ARCHIBALD VP FOR DVT & ALUMNI RELATNS 40.00 X 287933 0 65543 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 40.00 X 287298 0 54957 TAMA SPOERRI VP FOR HUMAN RESOURCES 40.00 X 262638 0 72271 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 40.00 X 265326 0 58993 JEFFREY MAHER DIRECTOR OF HEALTH SERVICES 40.00 X 263352 0 50244 PATSY DICKINSON FACULTY 40.00 X 263013 0 49665 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 40.00 X 246837 0 41953 STEPHANIE FROST SVP FOR DVT & ALUMNI RELATIONS 40.00 X 265427 0 10428 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 40.00 X 167758 0 48159 E WHITNEY SOULE SVP/DEAN ADMISSIONS & ST. AID 40.00 X 176893 0 37360 ROBERT F WHITE CHAIR 8.00 X X 0 0 0 SYDNEY ASBURY VICE CHAIR 8.00 X X 0 0 0 JENNIFER GOLDSMITH ADAMS TRUSTEE 4.00 X 0 0 0 JOSEPH ADU TRUSTEE 4.00 X 0 0 0 TEJUS AJMERA TRUSTEE 4.00 X 0 0 0 WILLIAM S ANDERSON TRUSTEE 4.00 X 0 0 0 KATIE R BENNER TRUSTEE 4.00 X 0 0 0 PETER J BERNARD TRUSTEE 4.00 X 0 0 0 ARTHUR E BLACK TRUSTEE 4.00 X 0 0 0 RONALD C BRADY TRUSTEE 4.00 X 0 0 0 DAVID G BROWN TRUSTEE 4.00 X 0 0 0 ELLEN L P CHAN TRUSTEE 4.00 X 0 0 0 RUSSELL C CRANDALL TRUSTEE 4.00 X 0 0 0 MICHELE G CYR TRUSTEE 4.00 X 0 0 0 JEFF D EMERSON TRUSTEE 4.00 X 0 0 0 ROBERT T FRIEDMAN TRUSTEE 4.00 X 0 0 0 BERTRAND GARCIA-MORENO TRUSTEE 4.00 X 0 0 0 SHELLEY A HEARNE TRUSTEE 4.00 X 0 0 0 TASHA VANDERLINDE IRVING TRUSTEE 4.00 X 0 0 0 TYREE P JONES JR TRUSTEE 4.00 X 0 0 0 ANN HAMBELTON KENYON TRUSTEE 4.00 X 0 0 0 GEORGE A KHALDUN TRUSTEE 4.00 X 0 0 0 HOLLY E MALONEY TRUSTEE 4.00 X 0 0 0 JOSEPH V MCDEVITT JR TRUSTEE 4.00 X 0 0 0 JOHN F MCQUILLAN JR TRUSTEE 4.00 X 0 0 0 DAVID A MORALES TRUSTEE 4.00 X 0 0 0 SCOTT B PERPER TRUSTEE 4.00 X 0 0 0 JANE L PINCHIN TRUSTEE 4.00 X 0 0 0 MARY HOGAN PREUSSE TRUSTEE 4.00 X 0 0 0 KIMBERLY FOSTER PRICE TRUSTEE 4.00 X 0 0 0 ALISON E RUNDLETT TRUSTEE 4.00 X 0 0 0 JOAN BENOIT SAMUELSON TRUSTEE 4.00 X 0 0 0 PHILIP W SCHILLER TRUSTEE 4.00 X 0 0 0 ANDREW E SERWER TRUSTEE 4.00 X 0 0 0 DIANA L SPAGNUOLO TRUSTEE 4.00 X 0 0 0 JAMES E STALEY TRUSTEE 4.00 X 0 0 0 R STEWART STRAWBRIDGE TRUSTEE 4.00 X 0 0 0 JOHN K L THORNDIKE TRUSTEE 4.00 X 0 0 0 KAREN N WALKER TRUSTEE 4.00 X 0 0 0 PAULA M WARDYNSKI TRUSTEE 4.00 X 0 0 0 DAVID P WHEELER TRUSTEE 4.00 X 0 0 0 MITCHELL S ZUKLIE TRUSTEE 4.00 X 0 0 0 10085235 0 1509899 242 1 1 0 CONSIGLI CONSTRUCTION CO INC 72 SUMNER STREET MILFORD MA 01757 CONST. SERVICES 4864274 BROAD INSTITUTE 415 MAIN STREET CAMBRIDGE MA 02142 COVID TESTING 1316350 GREAT FALLS CONSTRUCTION 20 MECHANIC STREET GORHAM ME 04038 CONST. SERVICES 737536 WORKDAY INC PO BOX 886106 LOS ANGELES CA 90088 SOFTWARE SERVICES 721175 ANTHEM BCBS 3350 PEACHTREE ROAD NE ATLANTA GA 30326 BENEFITS ADMIN FEES 635909 45 100000 4959000 43947000 2255000 49006000 TUITION AND FEES 611710 109186000 109186000 ROOM AND BOARD 611710 28171000 28171000 AUXILIARY ENTERPRISES 611710 3585000 3373000 212000 OFF-CAMPUS STUDY 611710 226000 226000 APPLICATION FEES 611710 172000 172000 836000 836000 142176000 9763000 3118000 6645000 2000 2000 74000 34000 40000 40000 40000 517267000 104000 307420000 163000 209847000 -59000 209788000 4349000 205439000 43000 100000 64000 -21000 -21000 OTHER REVENUE 611710 740000 740000 REUNION WEEKEND 611710 284000 284000 1024000 411778000 143028000 7679000 212065000 632000 632000 54358000 54358000 523000 523000 7161000 3151000 3363000 647000 172000 172000 87864000 72932000 10499000 4433000 8917000 7365000 1061000 491000 13234000 11045000 1490000 699000 6524000 5278000 874000 372000 1257000 1257000 424000 424000 24100 24100 2000 2000 436000 436000 8017000 4354000 3481000 182000 54000 44000 10000 6832000 4250000 2060000 522000 7294000 5136000 2152000 6000 7203000 5895000 1308000 3963000 3508000 253000 202000 934000 785000 72000 77000 12825000 12184000 641000 15050000 14008000 1042000 1002000 852000 150000 PURCHASES FOR RESALE 4177000 4177000 LIBRARY MATERIALS 3410000 3410000 FACILITIES MAINT. AND R 2840000 2726000 114000 PROV. FOR EXCISE TAXES -2252000 -2252000 2709900 2067000 588900 54000 255587000 218680000 29220000 7687000 0 0 22187000 120445000 61134000 52463000 2559000 2096000 0 0 0 0 1528000 1090000 1569000 1639000 4402000 5258000 568196000 224455000 329715000 343741000 123456000 113961000 2721811000 2435387000 0 0 0 0 28825000 26876000 3297186000 3102956000 20759000 25906000 1129000 719000 1502000 1202000 86367000 85493000 21000 26000 0 0 4284000 7500000 0 0 264779000 315966000 378841000 436812000 X 320605000 300727000 2597740000 2365417000 2918345000 2666144000 3297186000 3102956000 X 156191000 -413788000 5396000 X 0 1 X 1 1 1 X 27833000 46950000 71378000 38857000 49006000 234024000 27833000 46950000 71378000 38857000 49006000 234024000 4599722 229424278 14932000 16670000 15038000 13266000 6721000 66627000 1082000 6584000 7666000 37000 25000 43000 105000 308422000 635645000 0.74390 0.70640 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING RECEIPTS - 2017 AMOUNT: $ 37,000. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 25,000. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 43,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 24100 24100 0 PART II-B, LINE 1: LINE 1I: THE ORGANIZATION PAYS MEMBERSHIP DUES TO ASSOCIATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. X X X X 0 0 1 X 2718438000 33193000 -189622000 37956000 44283000 6952000 2472818000 1780970000 21252000 1004524000 35295000 42401000 10612000 2718438000 1743671000 18977000 99255000 32721000 39635000 8577000 1780970000 1628165000 17810000 173843000 30565000 37087000 8495000 1743671000 1455909000 16533000 225572000 28788000 34453000 6608000 1628165000 0.08422 0.91578 0 0 7265000 7265000 450786000 167703000 283083000 6397000 2398000 3999000 47853000 42624000 5229000 55895000 11730000 44165000 343741000 FIXED INCOME 29804000 F EQUITIES 454069000 F ABSOLUTE RETURN 717976000 F ALTERNATIVE INVESTMENTS 1233538000 F 2435387000 LIABILITY: POST-RETIREMENT BENEFITS 17633000 ASSET RETIREMENT OBLIGATION 1492000 LIABILITY FOR PV OF LIFE INCOME 12540000 FAIR VALUE OF INTEREST RATE SWAP 4017000 DEFERRED TAX LIABILITY 10100000 EXCISE TAX LIABILITY 2640000 TAXABLE BOND LIABILITIES 255850000 OPERATING/FINANCING LEASE LIAB 11694000 315966000 X 411000 -413788000 5396000 -408392000 408803000 6952000 -3977000 2975000 411778000 252612000 98000 98000 252514000 6952000 -3879000 3073000 255587000 PART III, LINE 1A: ORGANIZATIONS MAINTAINING COLLECTIONS: THE COLLEGE DOES NOT CAPITALIZE COLLECTIONS, PRIMARILY ART OBJECTS, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FINANCIAL GAIN. PROCEEDS FROM THE SALE OF COLLECTION ITEMS ARE USED TO ACQUIRE OTHER ITEMS FOR COLLECTION. PART III, LINE 4: ORGANIZATION'S COLLECTIONS: COLLEGE COLLECTIONS ARE PRIMARILY ART OBJECTS HELD FOR PUBLIC EXHIBITION AND EDUCATION. PART IV, LINE 2B: CUSTODIAL ACCOUNTS: THE COLLEGE HOLDS $26,000 OF SECURITY DEPOSITS ON ITS RENTAL PROPERTIES. PART V, LINE 4: ENDOWMENT FUNDS: THE COLLEGE'S ENDOWMENT IS INVESTED WITH THE INTENT OF BALANCING THE GOALS OF GENERATING A STEADY, STABLE STREAM OF FUNDS TO SUPPORT THE CURRENT OPERATIONS OF THE COLLEGE WHILE PRESERVING THE PURCHASING POWER OF THE ENDOWMENT TO SUPPORT PROGRAMS AND INITIATIVES FOR FUTURE GENERATIONS OF BOWDOIN STUDENTS. THE TOP FOUR USES OF THE ENDOWMENT FOR FY 2022 WERE AS FOLLOWS: FINANCIAL AID 48.6%; FACULTY COMPENSATION, ACADEMIC PROGRAMS AND RESEARCH 21.9%; GENERAL OPERATIONS 18.3%; LIBRARY AND MUSEUM PROGRAM SUPPORT 6.7%. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AND IS GENERALLY EXEMPT FROM INCOME TAXES AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. THE COLLEGE ASSESSES UNCERTAIN TAX POSITIONS AND HAS DETERMINED THERE WERE NO SUCH POSITIONS THAT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED GAIN ON INTEREST RATE SWAP 3,250,000. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST 2,468,000. NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS -9,000. LOSS ON ASSET RETIREMENT OBLIGATION -37,000. UNCOLLECTIBLE PLEDGES -276,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: DEFERRED & EXCISE TAX LIABILITIES -3,879,000. RENTAL DIRECT EXPENSES -34,000. FUNDRAISING ACTIVITIES DIRECT EXPENSES -64,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL DIRECT EXPENSES 34,000. FUNDRAISING ACTIVITIES DIRECT EXPENSES 64,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEFERRED & EXCISE TAX LIABILITIES -3,879,000. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION MEETS THE CRITERIA ESTABLISHED IN SECTION 4.0 REVENUE PROCEDURE 75-50. THE COLLEGE DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY. IT SATISFIES THE PUBLICITY REQUIREMENT BY INCLUDING A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IN ALL ITS BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. IT ALSO REFERENCES ITS RACIALLY NONDISCRIMINATORY POLICY IN OTHER WRITTEN ADVERTISING THAT IT USES AS A MEANS OF INFORMING PROSPECTIVE STUDENTS OF ITS PROGRAMS. SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN VARIOUS STUDENT FINANCIAL AID PROGRAMS FROM THE U.S. DEPARTMENT OF EDUCATION, INCLUDING THE FOLLOWING: PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND COLLEGE WORK STUDY PROGRAMS. 1 EUROPE (INCLUDING ICELAND AND GREENLAND) GRANTMAKING 523000 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 1127871000 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS 23779000 SUB-SAHARAN AFRICA INVESTMENTS 53101000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SEE PART V 10000 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES SEE PART V 111000 NORTH AMERICA PROGRAM SERVICES SEE PART V 5000 NORTH AMERICA 1 8 PROGRAM SERVICES SCIENTIFIC STATION 144000 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES SEE PART V 1000 SOUTH AMERICA PROGRAM SERVICES SEE PART V 7000 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES SEE PART V 7000 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES SEE PART V 4000 1 8 0 0 1 8 1205544000 19000 1205563000 FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 28 523000 WIRE TRANSF 1 0 1 1 1 0 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS: ELIGIBILITY FOR BOWDOIN GRANT ASSISTANCE IS "NEED BASED AND DETERMINED THROUGH ANALYSIS OF A FAMILY'S INCOME AND ASSETS. FAMILY INFORMATION IS COLLECTED THROUGH THE COLLEGE BOARD'S CSS/FINANCIAL AID PROFILE FORM, FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND THE FAMILY'S FEDERAL INCOME TAX RETURNS. EXCEPT FOR NATIONAL MERIT SCHOLARSHIPS, THE COLLEGE DOES NOT OFFER MERIT BASED AID. THE COLLEGE MAINTAINS A STUDENT AID OFFICE TO COUNSEL STUDENTS/FAMILIES ON HOW TO AFFORD A BOWDOIN EDUCATION AND TO ENSURE THAT AWARDS ARE IN COMPLIANCE WITH ESTABLISHED POLICIES AND PROCEDURES. PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN E: PROGRAM SERVICE ACTIVITIES: PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. PART I, LINE 3, COLUMN F: BASIS OF ACCOUNTING: THE BASIS OF ACCOUNTING ON THE FINANCIAL STATEMENTS IS ACCRUAL. GOLF TOURNAMENT 143000 100000 43000 10000 22000 31000 1000 143000 100000 43000 10000 22000 31000 1000 64000 -21000 1 TOWN OF BRUNSWICK 85 UNION STREET BRUNSWICK ME 04011 999999999 GOV'T 492000 0 CONTRIBUTION CREATIVE PORTLAND 84 FREE STREET PORTLAND ME 04101 270843775 501(C)(3) 25000 0 CONTRIBUTION BRUNSWICK DOWNTOWN ASSOCIATION PO BOX 15 BRUNSWICK ME 04011 753131242 501(C)(3) 20400 0 CONTRIBUTION TOWN OF HARPSWELL PO BOX 39 HARPSWELL ME 04079 999999999 GOV'T 20000 0 CONTRIBUTION UNITED WAY OF MID COAST MAINE 34 WING FARM PARKWAY BATH ME 04530 016004866 501(C)(3) 7500 0 CONTRIBUTION 5 0 FINANCIAL ASSISTANCE FOR UNDERGRADUATE STUDENTS 1006 50414000 STUDENT RESEARCH FELLOWSHIPS 677 2023000 GRAD. STUDENT FINANCIAL AID & POST GRAD. AWARDS 99 501000 ACADEMIC ACHIEVEMENT & OTHER STUDENT AWARDS 342 161000 COVID RELIEF - FEDERAL DISBURSEMENTS 1423 1251000 COVID RELIEF - BOWDOIN INSTITUTIONAL DISBURSEMENTS 14 8000 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS: GRANTS TO ORGANIZATIONS IN THE U.S. THE ALLOCATION OF GRANTS AND OTHER ASSISTANCE TO LOCAL ORGANIZATIONS AND MUNICIPALITIES IS DETERMINED ON AN ANNUAL BASIS BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND TREASURER. GRANTS TO INDIVIDUALS IN THE U.S. ELIGIBILITY FOR BOWDOIN GRANT ASSISTANCE IS "NEED BASED AND DETERMINED THROUGH ANALYSIS OF A FAMILY'S INCOME AND ASSETS. FAMILY INFORMATION IS COLLECTED THROUGH THE COLLEGE BOARD'S CSS/FINANCIAL AID PROFILE FORM, FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND THE FAMILY'S FEDERAL INCOME TAX RETURNS. EXCEPT FOR NATIONAL MERIT SCHOLARSHIPS, THE COLLEGE DOES NOT OFFER MERIT BASED AID. THE COLLEGE MAINTAINS A STUDENT AID OFFICE TO COUNSEL STUDENTS/FAMILIES ON HOW TO AFFORD A BOWDOIN EDUCATION AND TO ENSURE THAT AWARDS ARE IN COMPLIANCE WITH ESTABLISHED POLICIES AND PROCEDURES. X X X X 1 1 X X X X 1 0 0 0 0 0 0 1 0 PAULA VOLENT SVP/CHIEF INVESTMENT OFFICER 953992 0 1300000 0 398451 0 0 0 10549 0 2662992 0 0 0 K NILES BRYANT SVP/CHIEF INVESTMENT OFFICER 547150 0 1000000 0 3037 0 46958 0 27453 0 1624598 0 0 0 SCOTT MEIKLEJOHN SVP FOR DVT & ALUMNI RELATIONS 325050 0 0 0 52423 0 339198 0 24752 0 741423 0 0 0 CLAYTON ROSE PRESIDENT 496881 0 0 0 6512 0 65912 0 56199 0 625504 0 0 0 PAGE MACHLIN DIRECTOR OF INVESTMENTS 240417 0 235000 0 1804 0 42738 0 2067 0 522026 0 0 0 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 368576 0 0 0 36874 0 39215 0 27562 0 472227 0 0 0 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 320635 0 0 0 58086 0 46110 0 38944 0 463775 0 0 0 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 280878 0 0 0 36946 0 38880 0 31874 0 388578 0 0 0 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 303950 0 0 0 5908 0 41192 0 26029 0 377079 0 0 0 MICHAEL REED SVP FOR INCLUSION & DIVERSITY 200496 0 0 0 126700 0 34554 0 10261 0 372011 0 0 0 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 261095 0 0 0 37899 0 44209 0 25670 0 368873 0 0 0 MICHAEL ARCHIBALD VP FOR DVT & ALUMNI RELATNS 283814 0 0 0 4119 0 41819 0 23724 0 353476 0 0 0 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 247704 0 0 0 39594 0 41549 0 13408 0 342255 0 0 0 TAMA SPOERRI VP FOR HUMAN RESOURCES 227704 0 0 0 34934 0 38453 0 33818 0 334909 0 0 0 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 227605 0 0 0 37721 0 39081 0 19912 0 324319 0 0 0 JEFFREY MAHER DIRECTOR OF HEALTH SERVICES 196057 0 0 0 67295 0 33983 0 16261 0 313596 0 0 0 PATSY DICKINSON FACULTY 255906 0 0 0 7107 0 37331 0 12334 0 312678 0 0 0 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 196119 0 0 0 50718 0 31273 0 10680 0 288790 0 0 0 STEPHANIE FROST SVP FOR DVT & ALUMNI RELATIONS 154211 0 0 0 111216 0 0 0 10428 0 275855 0 0 0 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 151705 0 0 0 16053 0 23772 0 24387 0 215917 0 0 0 E WHITNEY SOULE SVP/DEAN ADMISSIONS & ST. AID 132306 0 0 0 44587 0 24830 0 12530 0 214253 0 0 0 PART I, LINE 1A BENEFITS: TRAVEL FOR COMPANIONS: SPOUSAL/PARTNER TRAVEL IS PERMISSIBLE IN INSTANCES WHERE THE PRESENCE OF A SPOUSE/PARTNER IS REQUIRED TO FURTHER A COLLEGE PURPOSE. THE AMOUNTS ARE COVERED UNDER THE COLLEGE'S EXPENSE REIMBURSEMENT POLICY. DURING THE TAX YEAR, THE ATTENDANCE OF THE PRESIDENT'S SPOUSE WAS REQUIRED AT CERTAIN COLLEGE EVENTS. RELATED TRAVEL COSTS WERE NONTAXABLE. GROSS-UP PAYMENTS: ONE KEY EMPLOYEE RECEIVED A GROSS-UP PAYMENT FOR TAX WITHHOLDING ADJUSTMENTS. ONE KEY EMPLOYEE AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED A GROSS-UP PAYMENT ON A TAXABLE GIFT CERTIFICATE. TWO KEY EMPLOYEES RECEIVED A GROSS-UP PAYMENT ON TAXABLE RETIREMENT GIFTS. ONE KEY EMPLOYEE RECEIVED A GROSS-UP PAYMENT ON TAXABLE MOVING EXPENSES. ONE OFFICER RECEIVED A GROSS-UP PAYMENT ON A TAXABLE LENGTH OF SERVICE AWARD. HOUSING ALLOWANCE: THE COLLEGE REQUIRES THE PRESIDENT TO LIVE ON CAMPUS IN COLLEGE-PROVIDED HOUSING. THE VALUE OF THE BENEFIT IS INCLUDED IN PART II, COLUMN D FOR PRESIDENT CLAYTON ROSE. SOCIAL CLUB DUES: SOCIAL CLUB DUES WERE PAID BY THE COLLEGE ON BEHALF OF A KEY EMPLOYEE DURING CALENDAR YEAR 2021. THE DUES ARE NOT INCLUDED IN THE EMPLOYEE'S TAXABLE WAGES AS THE SOCIAL CLUB WAS USED TO CONDUCT COLLEGE BUSINESS ONLY. PART I, LINE 4A SEVERANCE OR CHANGE OF CONTROL PAYMENTS: A HIGHEST COMPENSATED EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $25,935. A KEY EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $81,989. A KEY EMPLOYEE OF THE COLLEGE HAS AN EMPLOYMENT AGREEMENT WITH A CONDITIONAL SEVERANCE CLAUSE. A KEY EMPLOYEE WILL RECEIVE SUPPLEMENTAL WAGES IN CALENDAR YEARS 2022 AND 2023, IN THE AMOUNT $150,000 FOR EACH YEAR. PART I, LINE 7 NON-FIXED PAYMENTS: A KEY EMPLOYEE IN THE INVESTMENT OFFICE HAS AN INCENTIVE PERFORMANCE-RELATED BONUS BASED IN PART ON THE INVESTMENT PERFORMANCE OF THE BOWDOIN COLLEGE ENDOWMENT. A HIGHEST COMPENSATED EMPLOYEE AND A KEY EMPLOYEE RECEIVED A BONUS WHICH WAS DETERMINED AT THE DISCRETION OF A KEY EMPLOYEE. A MAINE HHEFA 010314384 NONEAVAIL 2017-04-03 20700000 REISSUE-2008 BOND 0 0 0 B MAINE HHEFA 010314384 56042RPK2 2017-12-28 35978713 ADVANCE REFUNDING 0 0 0 C MAINE HHEFA 010314384 56042RSC7 2018-11-29 32389091 CONSTRUCTION 0 0 0 A 20700000 20700000 2017 1 0 1 1 B 35978713 409145 35569568 2017 0 1 1 1 C 1000000 33121980 386973 32735007 2021 0 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 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 PART I BONDS A, B, C COLUMN (A): THE ISSUER NAME IS MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY PART I BOND A COLUMN (F): THE ISSUE IS A DIRECT PLACEMENT REMARKETING OF THE SERIES 2008 ISSUED 03/24/2008 PART I BOND B COLUMN (F): PARTIALLY ADVANCE REFUND 2009A ISSUE DATED 05/14/2009 PART I BOND C COLUMN (F): FINANCE CONSTRUCTION, RENOVATION AND EQUIPPING OF FACILITIES, OWNED OR TO BE OWNED BY THE INSTITUTION AND LOCATED ON ITS CAMPUS IN BRUNSWICK, MAINE, INCLUDING SEVERAL UPPER-CLASS HOUSING BUILDINGS AND A NEW ACADEMIC BUILDING CONTAINING LARGE FLEXIBLE CLASSROOMS, A CINEMA, AND AN EVENT SPACE. PART II LINE 11 COLUMN A,B: THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW. PART II LINE 3 COLUMN C: THE DIFFERENCE BETWEEN THE TOTAL PROCEEDS AND THE ISSUE PRICE IS DUE TO INTEREST EARNINGS ON PROJECT FUNDS IN THE AMOUNT OF $732,889. PART IV LINE 2C COLUMN A: THE CALCULATION FOR ARBITRAGE REBATE WAS COMPLETED ON 05/03/2022. NA N/A 10305 SCHOLARSHIP BENEFIT SPOUSE OF OFFICER OFFICER: M. ORLANDO 13000 COMPENSATION 0 SPOUSE OF KEY EMPLOYEE KEY EMP: S. HOOD 159000 COMPENSATION 0 SCH L, PART IV: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS AND FAMILY MEMBERS:(A) NAME OF PERSON: SPOUSE OF OFFICER(D) DESCRIPTION OF TRANSACTION: COMPENSATION(A) NAME OF PERSON: SPOUSE OF KEY EMPLOYEE(D) DESCRIPTION OF TRANSACTION: COMPENSATION X 609 SEE PART II X 131 2255000 SEE PART II 18 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 9: 128 GIFTS OF PUBLICLY TRADED SECURITIES WERE VALUED AT FAIR MARKET VALUE. 3 PLANNED GIFTS WERE VALUED AT NET PRESENT VALUE. PART I, LINE 33: ART - WORKS OF ART: THE COLLEGE DOES NOT RECOGNIZE REVENUE FOR CONTRIBUTIONS OF ART OBJECTS OR BOOKS AND PUBLICATIONS. FORM 990, PART I, LINE 1 AND PART III, LINE 1: ORGANIZATION'S MISSION: IT IS THE MISSION OF THE COLLEGE TO ENGAGE STUDENTS OF UNCOMMON PROMISE IN AN INTENSE FULL-TIME EDUCATION OF THEIR MINDS, EXPLORATION OF THEIR CREATIVE FACULTIES, AND DEVELOPMENT OF THEIR SOCIAL AND LEADERSHIP ABILITIES IN A FOUR-YEAR COURSE OF STUDY AND RESIDENCE THAT CONCLUDES WITH A BACCALAUREATE DEGREE IN THE LIBERAL ARTS. THE FULL TEXT OF THE COLLEGE'S MISSION STATEMENT IS AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.BOWDOIN.EDU/ABOUT/MISSION/INDEX.HTML. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: IN APRIL, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE PRESIDENT AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND TREASURER FOR THOROUGH REVIEW IN ADVANCE OF REGULARLY SCHEDULED BOARD OF TRUSTEES MEETINGS AND FILING WITH THE INTERNAL REVENUE SERVICE (IRS) IN MAY. SUBSEQUENT TO THIS REVIEW, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE CHAIRMAN OF THE BOARD AND THE CHAIR OF THE AUDIT, RISK, AND REPUTATION COMMITTEE. ALL OTHER TRUSTEES ARE PROVIDED A PUBLIC DISCLOSURE COPY OF FORM 990 FOR REVIEW. THE SCHEDULE B AS FILED WITH THE IRS IS AVAILABLE TO ALL TRUSTEES, UPON REQUEST ONLY, AT THE BOARD OF TRUSTEES MEETINGS IN MAY. THE FORM 990 IS FILED WITH THE IRS AFTER THE TRUSTEES REVIEW AND APPROVE THE FORM AT THESE MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: THE COLLEGE SURVEYS ANNUALLY ALL MEMBERS OF THE BOARD, ALL OFFICERS OF INSTRUCTION, AND ALL OFFICERS OF ADMINISTRATION AS TO POTENTIAL CONFLICTS OF INTEREST. SURVEYS ARE REVIEWED BY THE COLLEGE'S LEGAL OFFICER. THE RESULTS OF THE SURVEY ARE REPORTED TO THE AUDIT, RISK, AND REPUTATION COMMITTEE AND TO THE BOARD OF TRUSTEES. THE COLLEGE'S LEGAL OFFICER MANAGES ALL CONFLICTS BY APPROPRIATE MEANS, INCLUDING BUT NOT LIMITED TO, BY REQUIRING BOARD MEMBERS TO RECUSE THEMSELVES FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY: IN ACCORDANCE WITH TREASURY REGULATION 53.4958-6 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, ACTING AS A COMPENSATION COMMITTEE, ANNUALLY REVIEWS AND APPROVES THE COMPENSATION OF THE PRESIDENT AND SENIOR MANAGEMENT OFFICIALS. IN ALL CASES, THE EXECUTIVE COMMITTEE CONSIDERS COMPENSATION SURVEYS AND COMPETITIVE MARKET DATA. FOR SENIOR MANAGEMENT, THE PRESIDENT PROVIDES THE EXECUTIVE COMMITTEE WITH RECOMMENDED CHANGES TO COMPENSATION LEVELS. THE EXECUTIVE COMMITTEE DOCUMENTS SUCH DECISIONS IN ITS MINUTES WHERE APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AT WWW.BOWDOIN.EDU/FINANCE/FINANCIAL-DOCUMENTS/INDEX.HTML. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON INTEREST RATE SWAP 3,250,000. POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST 2,468,000. NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS -9,000. LOSS ON ASSET RETIREMENT OBLIGATION -37,000. UNCOLLECTIBLE PLEDGES -276,000. POLAR BEAR INVESTMENTS LLC 5400 COLLEGE STATION BRUNSWICK ME 04011 043375078 INVESTMENTS ME 4862124 200463832 BOWDOIN TP PARTNERSHIP 565 FIFTH AVENUE 19TH FL NEW YORK NY 10017 550648835 INVESTING NY N/A EXCL. 512, 513, 514 40695 0 1 0.56020 POOLED INCOME FUNDS (3) SEE PART VII BRUNSWICK ME 04011 INVESTING ME BOWDOIN T 1 CHARITABLE REMAINDER TRUSTS (14) SEE PART VII BRUNSWICK ME 04011 INVESTING ME BOWDOIN T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 POOLED INCOME FUND C S 452843 FMV PART IV: POOLED INCOME FUNDS AND CHARITABLE REMAINDER TRUSTS DOMICILED: THERE ARE 3 POOLED INCOME FUNDS REPORTED IN PART IV. ALL ARE DOMICILED IN MAINE. THERE ARE 14 CHARITABLE REMAINDER TRUSTS REPORTED IN PART IV. 9 ARE DOMICILED IN MAINE, 1 IN CONNECTICUT, 1 IN ILLINOIS, 1 IN NEW JERSEY, 1 IN NEW YORK AND 1 IN NORTH CAROLINA.