2023-05-15T13:50:29-05:00 2022-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2021-07-01 042103637 WELLESLEY COLLEGE WELL 7812831000 106 CENTRAL STREET WELLSLEY MA 024818203 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS 7812831000 2023-05-11 1 PIPER ORTON 999009999 SMITA BALIGA P01643271 6179881000 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z PAULA A JOHNSON 106 CENTRAL STREET WELLSLEY MA 024818203 599365522 0 X WWW.WELLESLEY.EDU X 1870 MA TO PROVIDE AN EXCELLENT LIBERAL ARTS EDUCATION FOR WOMEN WHO WILL MAKE A DIFFERENCE IN THE WORLD. 33 32 2807 0 832510 430743 68183815 60807794 152659403 184443403 287098075 218304861 7574149 11284572 515515442 474840630 70917262 79352912 0 0 141142793 150293912 0 0 8723617 111043807 117545198 323103862 347192022 192411580 127648608 4125529097 3730562132 657727476 629282773 3467801621 3101279359 TO PROVIDE AN EXCELLENT LIBERAL ARTS EDUCATION FOR WOMEN WHO WILL MAKE A DIFFERENCE IN THE WORLD. 0 0 170225980 0 178393724 OUTSTANDING EDUCATION: WELLESLEY IS COMMITTED TO ENSURING THAT OUR EXCELLENT LIBERAL ARTS CURRICULUM IS BOTH INTELLECTUALLY AND CULTURALLY BROAD TO PREPARE OUR GRADUATES FOR THEIR LIVES AFTER COLLEGE. WELLESLEY OFFERS MORE THAN 50 DEPARTMENTAL AND INTERDEPARTMENTAL MAJORS TO APPROXIMATELY 2,300 STUDENTS. THE AVERAGE CLASS SIZE IS 17 TO 20 STUDENTS WITH A 7:1 STUDENT-FACULTY RATIO. 82227117 79352912 0 WELLESLEY COLLEGE HAS A LONG TRADITION OF NEED-BLIND ADMISSION FOR U.S. CITIZENS AND PERMANENT RESIDENTS, MAKING ADMISSION DECISIONS WITHOUT REGARD TO A FAMILY'S FINANCIAL SITUATION. THROUGH ITS FINANCIAL AID PROGRAM, THE COLLEGE MEETS 100 PERCENT OF A STUDENT'S DEMONSTRATED FINANCIAL NEED. RESOURCES DEDICATED TO THE FINANCIAL AID PROGRAM ENSURE THAT WELLESLEY IS SUCCESSFUL IN RECRUITING AND ENROLLING A STRONG AND DIVERSE STUDENT BODY WITH CONTINUED ATTENTION TO ISSUES OF FINANCING AND AFFORDABILITY. APROXIMATELY 60% OF THE STUDENT BODY RECEIVES FINANCIAL AID AND WELLESLEY IS WIDELY RECOGNIZED AS ONE OF THE TOP 10 COLLEGES IN THE COUNTRY FOR STUDENTS GRADUATING WITH THE LEAST AMOUNT OF DEBT. 12528966 0 12528966 SPONSORED RESEARCH: WELLESLEY PRIDES ITSELF ON ITS COMMITMENT TO SUPPORTING THE TEACHER-SCHOLAR, ENABLING OUR GIFTED FACULTY MEMBERS TO INTEGRATE THEIR LOVE OF TEACHING AND WORKING CLOSELY WITH STUDENTS WITH THEIR PURSUIT OF THE ADVANCEMENT OF KNOWLEDGE THROUGH THEIR WORLD-CLASS RESEARCH. 264982063 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 392 0 1 2807 1 1 1 1 FR 0 0 0 0 0 0 0 0 0 1 X 33 32 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X X PIPER ORTON 7812831000 106 CENTRAL STREET WELLESLEY MA 02481 DEBORA DE HOYOS CHAIR 12.00 X 0 0 0 CHRISTOPHER T PASKO VICE CHAIR 10.00 X 0 0 0 TODD ABBRECHT TRUSTEE 2.00 X 0 0 0 KENNETH G BARTELS TRUSTEE 2.00 X 0 0 0 M AMY BATCHELOR TRUSTEE 2.00 X 0 0 0 BRIAN C BRODERICK TRUSTEE 2.00 X 0 0 0 LAURA WOOD CANTOPHER TRUSTEE 2.00 X 0 0 0 ANNE SHEN CHAO TRUSTEE 2.00 X 0 0 0 ELYSE CHERRY TRUSTEE 2.00 X 0 0 0 CALLIE CROSSLEY TRUSTEE 2.00 X 0 0 0 OPHELIA DAHL TRUSTEE 2.00 X 0 0 0 ELIZABETH DESMOND TRUSTEE 2.00 X 0 0 0 SUZANNE FREY TRUSTEE 2.00 X 0 0 0 LAURA DAIGNAULT GATES TRUSTEE 2.00 X 0 0 0 SARAH JANE GUNTER TRUSTEE 2.00 X 0 0 0 CHERYL HAYWOOD TRUSTEE 2.00 X 0 0 0 AMANDA HERNANDEZ TRUSTEE 2.00 X 0 0 0 MAIA HEYMANN TRUSTEE 2.00 X 0 0 0 DOUGLAS HOLLETT TRUSTEE 2.00 X 0 0 0 SANDRA HORBACH TRUSTEE 2.00 X 0 0 0 SUSAN SALTZBART KILSBY TRUSTEE 2.00 X 0 0 0 PATRICK LEE TRUSTEE 2.00 X 0 0 0 SUSAN KOENIGSBERG LUCAS TRUSTEE 2.00 X 0 0 0 ELLEN R MARRAM TRUSTEE 2.00 X 0 0 0 ELIZABETH F MCCORMACK TRUSTEE 2.00 X 0 0 0 LIA GELIN POORVU TRUSTEE 2.00 X 0 0 0 SOPHIA SHAW TRUSTEE 2.00 X 0 0 0 JENNIFER SMITH TRUSTEE 2.00 X 0 0 0 GRACE Y TOH TRUSTEE 2.00 X 0 0 0 PETER TUFANO TRUSTEE 2.00 X 0 0 0 SUE WAGNER TRUSTEE 2.00 X 0 0 0 ALVIA J WARDLAW TRUSTEE 2.00 X 0 0 0 PAULA A JOHNSON PRESIDENT 60.00 X X 635209 0 129570 DEBORAH F KUENSTNER CHIEF INVESTMENT OFFICER 60.00 X 990530 0 54460 ANDREW SHENNAN PROVOST AND DEAN OF COLLEGE 60.00 X 333646 0 124205 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS. 60.00 X 367064 0 32494 MARY CASEY VP FOR DEVELOPMENT & PUB. AFF. 60.00 X 352030 0 44125 SHEILAH HORTON DEAN OF STUDENTS 60.00 X 261894 0 105597 JOY ST JOHN DEAN-ADMISS. & STU. FIN. SVCS 60.00 X 237524 0 43750 MEGAN NUNEZ DEAN OF FACULTY AFFAIRS 60.00 X 233034 0 37848 MICHAEL JEFFRIES DEAN OF ACADEMIC AFF. 60.00 X 217529 0 35724 ROSE C CARPENTER MANAGING DIRECTOR TO DEPUTY CIO 60.00 X 943912 0 57804 RAY OQUENDO CHIEF OPERATING OFFICER 60.00 X 813904 0 56916 GREG ROZOLSKY INVESTMENT DIRECTOR 60.00 X 476062 0 39873 MATTHEW VEILEUX INVESTMENT DIRECTOR 60.00 X 395606 0 29355 KAREN PETRULAKIS GENERAL COUNSEL 60.00 X 365799 0 47464 ANN VELENCHIK FORMER DEAN OF ACADEMIC AFF. 60.00 X 215769 0 35778 6839512 0 874963 309 1 1 0 TURNER CONSTRUCTION COMPANY 2 SEAPORT LANE - 2ND FLOOR BOSTON MA 02210 CONSTRUCTION 28170253 AMERESCO INC PO BOX 499135 BOSTON MA 02241 ENGINEERING SERVICES 7045607 SCORPION CONSTRUCTION PO BOX 540-179 MILLIS MA 02054 CONSTRUCTION 1671902 SKIDMORE OWINGS MERRILL LLP 14 WALL ST NEW YORK NY 10005 CONSTRUCTION 1602995 LOCAL MOTION 66B ROCSAM PARK ROAD BRAINTREE MA 02184 TRANSPORTATION 1307559 121 9652437 51155357 3742610 60807794 STUDENT TUITION AND FEES 900099 142966129 142966129 STUDENT ROOM AND BOARD 900099 39948036 39948036 WELLESLEY CENTER FOR WOMEN 900099 1529238 1529238 184443403 11475794 -3417962 14893756 329849001 1504958 124199210 325682 205649791 1179276 206829067 2337592 204491475 GAIN ON DEBT EXTINGUISHMENT 900099 2892405 2892405 AUXILIARY ENTERPRISES 900099 2641956 2641956 NEHOIDEN GOLF CLUB 713990 1912880 1912880 3837331 3837331 11284572 474840630 190922690 832510 222277636 72996217 72996217 6356695 6356695 3709922 1325556 2024844 359522 106781034 75092627 26963065 4725342 16287774 14445588 1513447 328739 16393183 10579369 5382188 431626 7121999 5189453 1674429 258117 6988509 7645 6978274 2590 516071 36478 479593 632700 632700 198571 198571 11137443 3669733 6355162 1112548 5251513 3151102 1990170 110241 5441722 4963310 346395 132017 1300 1300 7239626 374711 6859393 5522 4095484 1855112 2039389 200983 37737 28275 8759 703 16065324 16065324 25130126 22309922 2327045 493159 2576003 2576003 BANK FEES 16397358 16384112 8995 4251 STUDY AWAY EXPENSES 5987635 5987635 EQUIPMENT RENTAL 1391971 704090 672591 15290 PRINTING & MAILING 366082 144093 45762 176227 8090023 737713 6985570 366740 347192022 264982063 73486342 8723617 X 212220452 214155406 49226481 41161987 3861427 940719 300000 300000 6472471 5933630 509676 473045 6250188 7074477 920378187 370267046 528787598 550111141 1106045000 964243000 2211855804 1946168727 4125529097 3730562132 145889638 122833621 956822 1193748 9350561 14530535 230495877 225618046 235713199 233211380 35321379 31895443 657727476 629282773 X 990577846 936125244 2477223775 2165154115 3467801621 3101279359 4125529097 3730562132 X 127648608 -512011977 17841107 X 0 1 X 1 1 1 X 63618206 35590693 86543194 68183815 60807794 314743702 63618206 35590693 86543194 68183815 60807794 314743702 10908707 303834995 1940884 23975225 19899290 9992901 14893756 70702056 8299040 11652667 9372721 5575733 9371692 44271853 429717611 821820233 0.70710 0.71390 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AUXILIARY ENTERPRISES - 2017 AMOUNT: $ 6,960,355. 2018 AMOUNT: $ 4,241,133. 2019 AMOUNT: $ 4,970,992. 2020 AMOUNT: $ 3,078,229. 2021 AMOUNT: $ 2,641,956. OTHER REVENUE - 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 7,006,000. 2019 AMOUNT: $ 4,166,182. 2020 AMOUNT: $ 2,493,246. 2021 AMOUNT: $ 6,729,736. WELLESLEY COLLEGE CLUB - 2017 AMOUNT: $ 1,338,685. 2018 AMOUNT: $ 405,534. 2019 AMOUNT: $ 235,547. 2020 AMOUNT: $ 4,258. 2021 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 3236785461 23310440 -306875113 48331934 58023923 2846864931 2285397056 21401639 1026472781 44409376 52076639 3236785461 2173415000 28649118 176478722 48838336 44307448 2285397056 2105211700 25614153 137048791 46965425 47494219 2173415000 1930751111 54445964 205996958 37551792 48430541 2105211700 0.30120 0.69880 0 0 35424350 35424350 839394005 361377845 478016160 14172956 8889201 5283755 31386876 31386876 550111141 PRIVATE EQUITY 1168470000 F REAL ASSETS 180382000 F ABSOLUTE RETURN 522388000 F MISCELLANEOUS OTHER 74928727 F 1946168727 GOVERNMENT LOAN ADVANCES -80270 ANNUITIES & UNITRUSTS PAYABLE 31975713 31895443 X -112483857 -512011977 17841107 -494170870 381687013 13800706 79352911 93153617 474840630 254038405 0 254038405 13800706 79352911 93153617 347192022 PART III, LINE 1A: FINANCIAL STATEMENT FOOTNOTE REGARDING ART COLLECTION WELLESLEY COLLEGE DOES NOT REPORT AS REVENUE ANY GIFTS THAT ARE WORKS OF ART. IN ADDITION, THE COLLEGE DOES NOT CAPITALIZE WORKS OF ART AS ASSETS ON ITS BALANCE SHEET. THIS TREATMENT IS PERMITTED UNDER SFAS 116. THE COLLEGE'S AUDITED FINANCIAL STATEMENTS DO NOT CONTAIN A FOOTNOTE REGARDING WORKS OF ART, HISTORICAL TREASURE, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTION THE DAVIS MUSEUM AND CULTURAL CENTER HAS A PERMANENT COLLECTION OF APPROXIMATELY 17,000 OBJECTS DATING FROM ANCIENT TIMES TO PRESENT DAY. INCLUDED ARE PAINTINGS, SCULPTURES, DECORATIVE OBJECTS, AND WORKS ON PAPER REPRESENTING CULTURES AROUND THE WORLD. THE COLLECTION OF THE MUSEUM SERVES AS A VALUED TEACHING RESOURCE FOR STUDENTS AND FACULTY IN MULTIPLE DISCIPLINES. PROFESSORS FREQUENTLY ASSIGN STUDENTS TO SEE AND WRITE ABOUT PIECES BEING SHOWN IN THE MUSEUM; THE MUSEUM ALSO MAKES AVAILABLE WORKS FROM THE PERMANENT COLLECTION TO CLASSES MEETING IN THE MUSEUM. FUNDAMENTAL TO THE SPIRIT OF THESE EXERCISES IS THE STUDENTS' ENCOUNTERS WITH ORIGINAL WORKS OF ART. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE WELLESLEY COLLEGE ENDOWMENT PROVIDES CRITICAL FUNDING THAT SUPPORTS FINANCIAL AID AND FACULTY SALARIES, MAINTAINS AND EXPANDS FACILITIES, AND UNDERWRITES NEW INITIATIVES AND PROGRAMS. THE ENDOWMENT HAS GROWN TO PROVIDE APPROXIMATELY 40% OF OPERATING REVENUE. WELLESLEY COLLEGE'S STRONG AND PRUDENT FINANCIAL MANAGEMENT ENSURES THE PURCHASING POWER OF THE ENDOWMENT FOR GENERATIONS TO COME. THE TOP USES OF THE ENDOWMENT FOR FY2022 WERE FINANCIAL AID AND FACULTY SALARIES. PART X, LINE 2: THE COLLEGE HAS NO MATERIAL UNCERTAIN TAX PROVISIONS AS OF JUNE 30, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: MINIMUM PENSION LIABILITY 7,552,762. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 10,288,345. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID INCLUDING PELL GRANTS 79,352,911. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID INCLUDING PELL GRANTS 79,352,911. PART V, LINE 2 WELLESLEY COLLEGE HAS ADOPTED ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2022 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF SCHEDULE D, LINE 2, WELLESLEY COLLEGE HAS REPORTED ENDOWMENT FUNDS WITHOUT DONOR RESTRICTIONS AS BOARD DESIGNATED OR QUASI-ENDOWMENT AND ENDOWMENT FUNDS WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT, RESPECTIVELY. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL COLLEGE PUBLICATIONS, INCLUDING RECRUITMENT BROCHURES AND CATALOGS, COURSE DESCRIPTION DOCUMENTS, THE COLLEGE'S WEBSITE, AND FACULTY AND STUDENT HANDBOOKS, ETC. OUTLINE THE INSTITUTION'S NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 WELLESLEY COLLEGE PARTICIPATES IN VARIOUS STUDENT FINANCIAL AID PROGRAMS FROM THE U.S. DEPARTMENT OF EDUCATION, INCLUDING THE FOLLOWING PROGRAMS: PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, PERKINS LOANS, AND COLLEGE WORK-STUDY PROGRAMS. 1 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY AWAY TUITION 29100 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY AWAY TUITION 58340 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 6 PROGRAM SERVICES STUDY AWAY TUITION 3367363 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDY AWAY TUITION 45422 NORTH AMERICA PROGRAM SERVICES STUDY AWAY TUITION 287738 SOUTH AMERICA PROGRAM SERVICES STUDY AWAY TUITION 34105 SOUTH ASIA PROGRAM SERVICES STUDY AWAY TUITION 19300 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY AWAY TUITION 117938 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY AWAY PROGRAM 1697400 NORTH AMERICA PROGRAM SERVICES STUDY AWAY PROGRAM 9435 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES INTERNSHIPS 250 NORTH AMERICA PROGRAM SERVICES INTERNSHIPS 19350 EAST ASIA AND THE PACIFIC PROGRAM SERVICES INTERNSHIPS 99532 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES INTERNSHIPS 229146 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES INTERNSHIPS 25750 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES INTERNSHIPS 6450 SOUTH AMERICA PROGRAM SERVICES INTERNSHIPS 20500 SOUTH ASIA PROGRAM SERVICES INTERNSHIPS 10250 SUB-SAHARAN AFRICA PROGRAM SERVICES INTERNSHIPS 44000 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES FINANCIAL AID 164076 NORTH AMERICA PROGRAM SERVICES FINANCIAL AID 819468 EAST ASIA AND THE PACIFIC PROGRAM SERVICES FINANCIAL AID 824937 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES FINANCIAL AID 603289 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES FINANCIAL AID 463072 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES FINANCIAL AID 667686 SOUTH AMERICA PROGRAM SERVICES FINANCIAL AID 748785 SOUTH ASIA PROGRAM SERVICES FINANCIAL AID 543099 SUB-SAHARAN AFRICA PROGRAM SERVICES FINANCIAL AID 1522283 EAST ASIA AND THE PACIFIC INVESTMENT INVESTMENT 181189447 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENT INVESTMENT 156891391 MIDDLE EAST AND NORTH AFRICA INVESTMENT INVESTMENT 107827886 NORTH AMERICA INVESTMENT INVESTMENT 26656671 1 6 0 0 1 6 3959306 481084153 485043459 FINANCIAL AID CENTRAL AMERICA AND THE CARIBBEAN 2 164076 CR. TO ACCT. FINANCIAL AID NORTH AMERICA 10 819468 CR. TO ACCT. FINANCIAL AID EAST ASIA AND THE PACIFIC 13 824937 CR. TO ACCT. FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 8 603289 CR. TO ACCT. FINANCIAL AID MIDDLE EAST AND NORTH AFRICA 6 463072 CR. TO ACCT. FINANCIAL AID RUSSIA AND NEWLY INDEPENDENT STATES 8 667686 CR. TO ACCT. FINANCIAL AID SOUTH AMERICA 9 748785 CR. TO ACCT. FINANCIAL AID SOUTH ASIA 8 543099 CR. TO ACCT. FINANCIAL AID SUB-SAHARAN AFRICA 19 1522283 CR. TO ACCT. 1 0 1 1 1 1 PART I, LINE 2: MONITORING USE OF FUNDS THE COLLEGE AWARDS AID TO MEET 100% OF A STUDENT'S DEMONSTRATED NEED. ALL AID IS CREDITED TO THE STUDENT'S ACCOUNT. IF THE STUDENT WITHDRAWS FROM WELLESLEY, THE AID IS ADJUSTED ACCORDINGLY. PAYMENTS IN CONNECTION WITH A STUDY ABROAD PROGRAM ARE MADE WHILE THE STUDENT IS LIVING OUTSIDE THE UNITED STATES. HOWEVER, AT THE TIME THE PAYMENT IS MADE, THE STUDENT IS A RESIDENT OF THE UNITED STATES. PART III ACCOUNTING METHOD: 1 FINANCIAL AID 1341 70458152 FINANCIAL AID - EMERGENCY RELIEF FUNDS 1329 2538065 PART I, LINE 2: MONITORING USE OF FUNDS THE COLLEGE AWARDS AID TO MEET 100% OF A STUDENT'S DEMONSTRATED NEED. ALL AID IS CREDITED TO THE STUDENT'S ACCOUNT. IF THE STUDENT WITHDRAWS FROM WELLESLEY, THE AID IS ADJUSTED ACCORDINGLY. FOR INTERNSHIPS, THE COLLEGE IS IN CONTACT WITH THE ORGANIZATIONS PROVIDING THE INTERNSHIP TO ENSURE THAT HIGH-QUALITY PROGRAMS ARE PROVIDED TO THE STUDENTS. PART III, LINE 2: HIGHER EDUCATION EMERGENCY RELIEF FUND IN FISCAL YEAR 2021, THE COLLEGE WAS AWARDED A SECOND ROUND OF FUNDING FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND II (HEERF II) UNDER SECTION 341(A)(1) OF THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT, 2021 (CRRSAA). THE COLLEGE RECEIVED $985,000 TO PROVIDE ADDITIONAL EMERGENCY FINANCIAL AID GRANTS TO STUDENTS. THE COLLEGE DISBURSED $968,000 TO STUDENTS IN FISCAL YEAR 2021, AND WILL DISBURSE THE REMAINING $17,000 TO STUDENTS IN FISCAL YEAR 2022. DURING FISCAL YEAR 2022, THE COLLEGE WAS AWARDED A THIRD ROUND OF FUNDING UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUND III (HEERF III) UNDER SECTION 2003(A)(1) OF THE AMERICAN RESCUE PLAN ACT FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS. THE COLLEGE RECEIVED A TOTAL OF $2,521,065 OF FUNDING AND DISBURSED THE ENTIRE AMOUNT TO STUDENTS DURING THE FISCAL YEAR. THE COLLEGE ALSO RECEIVED AND UTILIZED $2,521,065 OF THE INSTITUTIONAL PORTION AWARDED IN FISCAL YEAR 2022. BOTH PORTIONS OF FUNDING ARE RECORDED IN THE GOVERNMENT GRANTS SECTION OF THE STATEMENT OF ACTIVITIES. X X X 1 1 X X X X X 0 0 0 0 0 1 0 1 0 DEBORAH F KUENSTNER CHIEF INVESTMENT OFFICER 561962 0 425400 0 3168 0 26100 0 28360 0 1044990 0 0 0 ROSE C CARPENTER MANAGING DIRECTOR TO DEPUTY CIO 413462 0 530000 0 450 0 26100 0 31704 0 1001716 0 0 0 RAY OQUENDO CHIEF OPERATING OFFICER 382124 0 430000 0 1780 0 29250 0 27666 0 870820 0 0 0 PAULA A JOHNSON PRESIDENT 590203 0 1000 0 44006 0 29450 0 100120 0 764779 0 0 0 GREG ROZOLSKY INVESTMENT DIRECTOR 269587 0 206200 0 275 0 19314 0 20559 0 515935 0 0 0 ANDREW SHENNAN PROVOST AND DEAN OF COLLEGE 300601 0 31000 0 2045 0 20549 0 103656 0 457851 0 0 0 MATTHEW VEILEUX INVESTMENT DIRECTOR 226844 0 167560 0 1202 0 18125 0 11230 0 424961 0 0 0 KAREN PETRULAKIS GENERAL COUNSEL 358154 0 6000 0 1645 0 22834 0 24630 0 413263 0 0 0 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS. 361256 0 1000 0 4808 0 22306 0 10188 0 399558 0 0 0 MARY CASEY VP FOR DEVELOPMENT & PUB. AFF. 349446 0 1000 0 1584 0 22345 0 21780 0 396155 0 0 0 SHEILAH HORTON DEAN OF STUDENTS 259179 0 1000 0 1715 0 18104 0 87493 0 367491 0 0 0 JOY ST JOHN DEAN-ADMISS. & STU. FIN. SVCS 235975 0 1000 0 549 0 16611 0 27139 0 281274 0 0 0 MEGAN NUNEZ DEAN OF FACULTY AFFAIRS 231696 0 1000 0 338 0 16332 0 21516 0 270882 0 0 0 MICHAEL JEFFRIES DEAN OF ACADEMIC AFF. 216320 0 1000 0 209 0 14257 0 21467 0 253253 0 0 0 ANN VELENCHIK FORMER DEAN OF ACADEMIC AFF. 205974 0 1000 0 8795 0 14347 0 21431 0 251547 0 0 0 PART I, LINE 1A BENEFITS PROVIDED WELLESLEY COLLEGE'S POLICY IS THAT THE COLLEGE WILL NOT PAY FOR OR REIMBURSE THE TRAVEL, MEALS, OR EXPENSES OF THE SPOUSE/PARTNER OF AN EMPLOYEE WITH THE EXCEPTION OF THE PRESIDENT. SPECIFICALLY, WHILE PERFORMING HER OFFICIAL DUTIES IN THE AREA OF DEVELOPMENT, ALUMNAE RELATIONS, AND OTHER BUSINESS OF THE COLLEGE, THE PRESIDENT MAY BE ACCOMPANIED BY HER SPOUSE, WHO IS EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF ALL TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE. THE COLLEGE PROVIDES ON-CAMPUS HOUSING TO CERTAIN EMPLOYEES AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE AND BENEFIT OF THE COLLEGE. THE PRESIDENT, PROVOST AND DEAN OF COLLEGE, AND VICE PRESIDENT AND DEAN OF STUDENTS EACH RECEIVE HOUSING. THE AMOUNT OF THIS HOUSING IS NOT TAXABLE AND IS NOT INCLUDED IN THEIR W-2. THE HOUSING REQUIREMENT AS A CONDITION OF EMPLOYMENT IS DOCUMENTED IN THE EMPLOYEE'S FILES. THE COLLEGE WILL NOT PAY FOR PERSONAL SERVICES WITH THE EXCEPTION OF THE PRESIDENT'S HOUSE. SINCE THE PRESIDENT'S HOUSE IS USED EXTENSIVELY FOR COLLEGE BUSINESS, HOUSEKEEPING SERVICES ARE PROVIDED FOR THE GENERAL SPACE. A CHEF WILL BE AT THE PRESIDENT'S HOUSE TO PROVIDE MEALS FOR BUSINESS PURPOSE FUNCTIONS. PERSONAL SERVICES PROVIDED TO EMPLOYEES AREAPPROPRIATELY REPORTED AS TAXABLE COMPENSATION. PART I, LINE 6 PAYMENTS CONTINGENT OF NET EARNINGS EMPLOYEES IN THE INVESTMENT OFFICE HAVE AN INCENTIVE PERFORMANCE-RELATED BONUS SYSTEM BASED ON THE INVESTMENT PERFORMANCE OF THE WELLESLEY COLLEGE ENDOWMENT. TOTAL COMPENSATION IS REVIEWED IN COMPARISON TO MARKET DATA PROVIDED BY INDEPENDENT THIRD PARTIES. PART I, LINE 7 NONFIXED PAYMENTS EMPLOYEES OTHER THAN INVESTMENT OFFICE EMPLOYEES ARE ABLE TO RECEIVE MERIT-BASED BONUS COMPENSATION. A MHEFA 2008 SERIES I 042456011 57586CP25 2008-01-31 57385000 CONSTRUCTION - REFINANCING 1999 ISSUE 0 0 0 B MDEFA 2018 SERIES L 043431814 57584YES4 2018-03-29 105663450 CONSTRUCTION - REFINANCING 1999 ISSUE 0 0 0 C MDEFA 2022 SERIES M 043431814 57584Y2L2 2022-04-05 50862192 CONSTRUCTION - REFINANCING 2012 ISSUE 0 0 0 A 57385000 530057 25447000 31407943 2010 0 1 1 1 B 4585000 96500000 832680 90842320 4825000 2020 1 0 1 1 C 44960000 491488 44468512 1 0 1 1 A 0 0 1 1 1 1 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 A 0 0 0 1 1 1 JP MORGAN 31.440000000000 0 0 0 0 1 B 0 1 0 1 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, LINE 3: COLUMN B MHEFA 2008 SERIES L THE PROCEEDS OF THE BONDS ARE USED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE SERIES E BONDS. PRINCIPAL AMOUNT OF THE BONDS $ 96,500,000 NET ORIGINAL ISSUE PREMIUM $ 9,163,450 TOTAL $105,663,450 COLUMN C MHEFA 2008 SERIES M THE PROCEEDS OF THE BONDS ARE USED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE SERIES J BONDS. PRINCIPAL AMOUNT OF THE BONDS $ 44,960,000 NET ORIGINAL ISSUE PREMIUM $ 5,902,192 TOTAL $ 50,682,192 SCHEDULE K, PART III, LINES 3C AND 3D: COLUMN A - MHEFA 2008 SERIES I THERE ARE RESEARCH AGREEMENTS THAT INVOLVE THE USE OF BOND FINANCED SPACE WHICH THE COLLEGE ROUTINELY ENGAGES BOND COUNSEL TO REVIEW WHETHER ANY RESEARCH AGREEMENTS RESULT IN PRIVATE BUSINESS USE. BASED ON REVIEW, NO KNOWN PRIVATE BUSINESS USE IS EVIDENT. SCHEDULE K, PART III, LINE 9: UNDER REGULATION SECTIONS 1.141-12 AND 1.145-2, WELLESLEY COLLEGE HAS ESTABLISHED WRITTEN PROCEDURES AS OF OCTOBER 3, 2014. SCHEDULE K, PART IV, LINE 2: COLUMN A - MHEFA 2008 SERIES I THE MHEFA 2008 SERIES I BOND ISSUE REBATE CALCULATION WAS PERFORMED FEBRUARY 3, 2023. COLUMN B - MDFA 2018 SERIES L THE FIRST REBATE CALCULATION FOR THE MDFA SERIES L BOND WAS PERFORMED AUGUST 2, 2022. COLUMN B - MDFA 2022 SERIES M THE MDFA SERIES M BOND WAS ISSUED IN FEBRUARY 2022. THE REBATE IS NOT DUE YET. ANDREW SHENNAN OFFICER MORTGAGE X 300000 300000 0 1 1 300000 X 75 0 FMV/$0 FOR TRACKING X 0 FMV/$0 FOR TRACKING X 0 FMV/$0 FOR TRACKING X 153 3742610 SELLING PRICE/FMV X 2 0 FMV/$0 FOR TRACKING X SCIENTIFIC EQUIP. 1 0 FMV/$0 FOR TRACKING 6 0 1 1 PART I, COLUMN (B): WELLESLEY COLLEGE REPORTS THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). PART I, LINE 32B: USE OF THIRD PARTIES WELLESLEY COLLEGE USES A SECURITIES BROKER TO SELL ALL DONATED PUBLICLY TRADED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT FAIR MARKET VALUE. SCHEDULE M, PART I, LINE 33: ACCOUNTING FOR WORKS OF ART WELLESLEY COLLEGE DOES NOT REPORT AS REVENUE ANY GIFTS THAT ARE WORKS OF ART. IN ADDITION, THE COLLEGE DOES NOT CAPITALIZE WORKS OF ART AS ASSETS IN ITS BALANCE SHEET. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW FORM 990 WAS PREPARED BY AN OUTSIDE PUBLIC ACCOUNTING FIRM AND REVIEWED BY THE COLLEGE'S FINANCE OFFICE. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS FORM 990 AND ALL REQUIRED SCHEDULES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990 AND ALL REQUIRED SCHEDULES ARE ALSO DISTRIBUTED TO THE FULL BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY THE COLLEGE HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF DONOR INFORMATION ON SCHEDULE B. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE COLLEGE HAS CHOSEN NOT TO DISCLOSE THE IDENTITIES AND ADDRESSES OF ITS DONORS. AS SUCH, WE ARE REQUIRED TO ANSWER THE QUESTION ON LINE 11A "NO" EVEN THOUGH THE BOARD RECEIVES ALL OF FORM 990 EXCEPT FOR DONORS' NAMES AND ADDRESSES. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY CONFLICT OF INTEREST POLICIES ARE IN PLACE FOR TRUSTEES, OFFICERS, EXTERNAL INVESTMENT COMMITTEE MEMBERS, AND ALL EMPLOYEES. TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE - AT LEAST AS OFTEN AS ANNUALLY AND WHENEVER A POTENTIAL CONFLICT ISSUE ARISES - FINANCIAL OR PERSONAL INTERESTS WHICH MAY GIVE RISE TO CONFLICTS. THE CLERK OF THE BOARD OF TRUSTEES PROVIDES AN ANNUAL REPORT TO THE TRUSTEES SUMMARIZING THE CONFLICT OR POTENTIAL CONFLICTS ISSUES. AT LEAST ANNUALLY, THE TRUSTEES REVIEW THE COLLEGE'S RELATIONSHIPS WITH SIGNIFICANT VENDORS OR SERVICE PROVIDERS SERVING THE COLLEGE TO ASSURE THAT SUCH RELATIONSHIPS ARE IN THE BEST INTEREST OF THE COLLEGE AND ARE OTHERWISE CONSISTENT WITH THE TERMS OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL THE COMPENSATION OF THE PRESIDENT AND OTHER OFFICERS OF THE COLLEGE IS DETERMINED BY THE TALENT AND COMPENSATION COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF TRUSTEES. THE TALENT AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES UTILIZES INDEPENDENT EXTERNAL CONSULTANTS TO ASSIST WITH BOTH THE REVIEW OF COMPENSATION GUIDELINES AND THE GATHERING OF COMPARABILITY DATA IN DETERMINING THE REASONABLENESS OF COMPENSATION AND COMPLIANCE WITH THE PROCEDURES DESCRIBED IN TREASURY REGULATION SECTION 53.4958-6, INCLUDING CONTEMPERANEOUS DOCUMENTATION OF COMPENSATION DECISIONS. KEY EMPLOYEES ARE COMPENSATED BASED UPON THE GUIDELINES THE COLLEGE HAS FOR ADMINISTRATIVE AND FACULTY EMPLOYEES. THESE GUIDELINES INCLUDE REVIEW OF THE MARKET BY LOOKING AT SALARIES FOR COMPARABLE POSITIONS AS WELL AS A MERIT PROGRAM BASED ON PERFORMANCE. COMPENSATION DECISIONS ARE MADE BY PERSONS WHO ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM THE COMPENSATION IS BEING DETERMINED. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS A COPY OF THE BUSINESS CONDUCT POLICY WHICH INCLUDES THE CONFLICT OF INTEREST POLICY IS GIVEN TO ALL NEW EMPLOYEES UPON HIRE. BOTH THE BUSINESS CONDUCT POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEBSITE. THE COLLEGE'S ORGANIZING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART X, LINES 27, 28, AND 29 WELLESLEY COLLEGE HAS ADOPTED ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2022 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF FORM 990, PART X, LINES 27, 28, AND 29, WELLESLEY COLLEGE HAS REPORTED NET ASSETS WITHOUT DONOR RESTRICTIONS AS UNRESTRICTED NET ASSETS AND NET ASSETS WITH DONOR RESTRICTIONS AS PERMANANTLY RESTRICTED NET ASSETS, RESPECTIVELY. FORM 990, PART XI, LINE 9: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 7,552,762. MINIMUM PENSION LIABILITY 10,288,345. WELLESLEY COLLEGE FOUNDATION UK LIMITED 19 NORCOTT ROAD LONDON UK N16 7EJ 981196154 EDUCATION UK 249796 707 WELLESLEY POOLED INCOME FUNDS (5) SUPPORT MA T 1 CHARITABLE REMAINDER TRUSTS (2) SUPPORT MA T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 POOLED INCOME FUNDS (5) S 439828 ACCRUAL CHARITABLE REMAINDER TRUSTS (2) S 2711548 ACCRUAL