2023-05-15T12:14:28-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2021-07-01 042225850 COLLEGE OF OUR LADY OF THE ELMS COLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 KATIE LONGLEY VP OF FINANCE & ADMINISTRATION 4135942761 2023-05-12 1 KATIE LONGLEY 999009999 LAURA J KENNEY P00202198 6177170831 2023-05-12 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z HARRY DUMAY 291 SPRINGFIELD STREET CHICOPEE MA 01013 60060675 0 X WWW.ELMS.EDU X 1928 MA TO EDUCATE A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. 31 30 670 60 42 0 7946251 8237088 38071737 39479559 306268 4655871 122439 223942 46446695 52596460 13782249 15360818 0 0 16053991 16764338 42999 29667 609775 11531167 13695975 41410406 45850798 5036289 6745662 76626054 76384477 19625191 20112724 57000863 56271753 X THE COLLEGE OF OUR LADY OF THE ELMS, A CATHOLIC COLLEGE, EDUCATES A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. COMBINING A LIBERAL ARTS EDUCATION WITH PROFESSIONAL STUDIES, ELMS COLLEGE EMPOWERS STUDENTS TO EFFECT POSITIVE CHANGES IN THE COMMUNITY AND IN THE WORLD. AFFIRMING THE FOUNDING TRADITION OF THE SISTERS OF ST. JOSEPH, ELMS COLLEGE CHALLENGES STUDENTS TO EMBRACE CHANGE WITHOUT COMPROMISING PRINCIPLE, TO RESPOND CREATIVELY TO THE DEMANDS OF THEIR CHOSEN CAREERS, AND TO ADVOCATE FOR PEOPLE IN NEED. ELMS COLLEGE IS A COMMUNITY ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, AND RESPONSIVE TO CIVIC AND SOCIAL OBLIGATIONS. 0 0 33773635 15360818 36025833 THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY & HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. DURING THE 2021/2022 SCHOOL YEAR, WE SERVED 1,728 FULL AND PART TIME STUDENTS. 1373437 3453726 AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. 2,091 PEOPLE SERVED. 35147072 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 1 125 0 1 670 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X KATIE LONGLEY 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 PAUL M STELZER CHAIR 2.00 0.00 X X 0 0 0 KATHLEEN M KANE VICE-CHAIR 2.00 0.00 X X 0 0 0 DENNIS DUQUETTE TRUSTEE 2.00 0.00 X 0 0 0 VIRGINIA MAITLAND SSJ TRUSTEE 2.00 0.00 X 0 0 0 DIANE BRUNELLE TRUSTEE 2.00 0.00 X 0 0 0 CAROLYN JACOBS TRUSTEE 2.00 0.00 X 0 0 0 JOAN S KAGAN TRUSTEE 2.00 0.00 X 0 0 0 NANCY D MACPHERSON TRUSTEE 2.00 0.30 X 0 0 0 JEAN BOSTLEY SSJ TRUSTEE 2.00 0.00 X 0 0 0 JANE THOMAS SSJ TRUSTEE 2.00 0.00 X 0 0 0 MARK G HAMBLEY TRUSTEE 2.00 0.00 X 0 0 0 JOHN B QUINN TRUSTEE 2.00 0.00 X 0 0 0 REGINA NOONAN HITCHERY TRUSTEE 2.00 0.00 X 0 0 0 MELISSA R GILLIS TRUSTEE 2.00 0.00 X 0 0 0 PETER J HARRINGTON TRUSTEE 2.00 0.00 X 0 0 0 MARK O'CONNELL TRUSTEE 2.00 0.00 X 0 0 0 MARTHA R ROSS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL K VANN TRUSTEE 2.00 0.00 X 0 0 0 JOHN E CONNORS TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH G DINEEN TRUSTEE 2.00 0.00 X 0 0 0 JOAN RYZEWICZ SSJ TRUSTEE 2.00 0.00 X 0 0 0 EILEEN O'LEARY SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 BETH E ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 PASCALE DESIR TRUSTEE 2.00 0.00 X 0 0 0 MARK M FULCO TRUSTEE 2.00 0.00 X 0 0 0 STEVEN P GOBEL TRUSTEE 2.00 0.00 X 0 0 0 FAWWAZ HABBAL TRUSTEE 2.00 0.00 X 0 0 0 ELEANOR SPRING SSJ TRUSTEE 2.00 0.00 X 0 0 0 RICHARD K SULLIVAN JR TRUSTEE 2.00 0.00 X 0 0 0 PAUL MARCHESE TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN HAGAN TRUSTEE 2.00 0.00 X 0 0 0 JOSE R FERNANDEZ TRUSTEE (THROUGH 9/2021) 2.00 0.00 X 0 0 0 RICHARD MEELIA TRUSTEE (THROUGH 8/2021) 2.00 0.00 X 0 0 0 HARRY DUMAY PRESIDENT 35.00 0.30 X 397887 0 79650 KATIE LONGLEY VP OF FIN & ADMIN/TREASURER 35.00 0.30 X 188273 0 21699 KRISTEN E KIRWAN BOARD LIAISON 17.00 0.00 X 18592 0 0 WALTER BREAU VP OF ACADEMIC AFFAIRS 35.00 0.30 X 190124 0 17280 ANTOINETTE BONNIE CANDIA-BAILEY VP STUD AFFAIRS/CHIEF DIVERSITY OFFR 35.00 0.00 X 145867 0 5180 JANET WILLIAMS PROF. BIOLOGY 35.00 0.00 X 150583 0 4604 KIMBERLY KENNEY-ROCKWAL PROF. BUSINESS MANAGEMENT 35.00 0.00 X 152342 0 51915 JONATHAN SCULLY VP OF ENROLLMENT MANAGEMENT 35.00 0.00 X 162165 0 4734 PETER DEPERGOLA PROF. PHILOSOPHY & RELIGIOUS STUDIES 35.00 0.00 X 141628 0 4634 1547461 0 189696 25 0 1 0 ARAMARK CORPORATION PO BOX 978839 DALLAS TX 753978839 FOOD SERVICES 1145123 WFF FACILITY SERVICES 211 SO JEFFERSON AVE ST LOUIS MO 63103 FACILITIES SERVICES 1141779 FIELD TURF USA INC 175 N INDUSTRIAL BLVD NE CALHOUN GA 30701 CONSTRUCTION SERVICES 468000 ASSESSMENT TECHNOLOGIES INSTITUTE 62277 COLLECTIONS CENTER CHICAGO IL 60693 ACADEMIC TESTING SERVICES 312415 MASSLIVE MEDIA 1350 MAIN STREET SPRINGFIELD MA 01103 ADVERTISING 196186 15 5204824 3032264 105341 8237088 TUITION AND FEES 611310 36025833 36025833 ROOM, BOARD & AUXILIAR 611310 3453726 3453726 39479559 795982 42 795940 121845 0 121845 121845 121845 11324104 7464215 3859889 3859889 3859889 OTHER INCOME 611310 102097 102097 102097 52596460 39479559 42 4879771 15125949 15125949 234869 234869 1020911 189866 700414 130631 96026 96026 13379342 10824463 2300487 254392 474008 349509 110638 13861 744557 441522 286136 16899 1049494 816199 204629 28666 143593 27119 116474 116451 116451 29667 29667 35089 35089 580507 366552 213955 379796 7676 372120 1161388 945500 188085 27803 302915 49316 253599 886662 165831 720831 272646 251008 20802 836 255801 119500 126320 9981 516547 327753 178307 10487 2543666 1613974 878048 51644 EQUIPMENT RENTAL & MAIN 2175294 132652 2011542 31100 FOOD SERVICES 1152290 1152290 INSTITUTIONAL SUPPORT 638424 48812 589612 LOSS - PERKINS LOANS 225486 225486 2309420 1860686 444926 3808 45850798 35147072 10093951 609775 1777919 1107457 16279919 13207123 2617494 2334451 672974 5183715 704738 360239 562935 469799 73855952 39826331 34684442 34029621 11704754 9042005 7524043 10552231 96836 97836 76626054 76384477 3312418 2557621 1155329 2715868 14411776 14642828 184365 180114 561303 16293 19625191 20112724 X 38475565 39045754 18525298 17225999 57000863 56271753 76626054 76384477 X 6745662 -6970339 -504433 X 0 1 X 1 1 1 X 1703126 4639722 5149689 7946251 8237088 27675876 1703126 4639722 5149689 7946251 8237088 27675876 1426668 26249208 413323 397594 343733 380449 917785 2452884 30128760 200262872 0.87120 0.82670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 70870 X X X 0 0 1 X 20473525 2539831 -2956915 591578 35090 19429773 15832320 1228328 4030614 539697 78040 20473525 13737663 2459276 151204 486516 29307 15832320 12797831 656661 857811 517536 57104 13737663 11900951 599658 778460 428012 53226 12797831 0.32980 0.57850 0.09170 1 1 1 144370 144370 49594589 21144372 28450217 20718498 16328309 4390189 3398495 2353650 1044845 34029621 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2068462 F LIMITED PARTNERSHIPS 2317842 F FIXED INCOME INVESTMENTS 6165927 F 10552231 ANNUITY OBLIGATIONS 16293 16293 X 29518660 -6970339 -6970339 36488999 35089 16072372 16107461 52596460 30247770 0 30247770 35089 15567939 15603028 45850798 PART III, LINE 4: DESCRIPTION OF COLLECTION: 33" X 20" WATERCOLOR BY ENRICO TARENGHI WITH VALUE OF $14,000 AND 40 ETCHINGS BY SEARS GALLAGHER WITH TOTAL VALUE OF $34,000. THE ARTWORK PROVIDES AN EXAMPLE OF HOLISTIC ENRICHMENT FOR THE STUDENTS AND PROMOTES THE CONCEPTS SET FORTH IN A LIBERAL ARTS COLLEGE. ALUMNAE LIBRARY ALSO HAS A COLLECTION OF SOME 1000 RARE BOOKS DATING BETWEEN 1521 AND 1900, APPROXIMATELY 50 PAINTINGS BY VARIOUS HANDS, AND AN ASSORTED COLLECTION OF REGALIA FROM DIVERSE COUNTRIES. THE LIBRARY ALSO OWNS ONE MEDIEVAL MANUSCRIPT, ABOUT A HALF-DOZEN FRAMED MEDIEVAL PAGES, AND CURRENTLY HAS TWO MANUSCRIPTS ON LOAN. THE MATERIALS ARE USED SOLELY FOR DISPLAY AND SCHOLARLY RESEARCH. PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT FUNDS PLACED ON DEPOSIT BY EACH CLASS AND OTHER GROUPS WITH THE COLLEGE AS CUSTODIAN. PART X, LINE 2: UNCERTAIN TAX POSITIONS: MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE COLLEGE, THE FOUNDATION, AND FRIENDS OF ELMS TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2018. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 15,342,453. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 504,433. PERKINS LOAN LOSSES 225,486. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 15,342,453. PERKINS LOAN LOSSES 225,486. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: WE ARE A PRIVATE, CATHOLIC, COEDUCATIONAL LIBERAL ARTS COLLEGE FOUNDED IN 1928 BY THE SISTERS OF ST. JOSEPH OF SPRINGFIELD, MA. ELMS COLLEGE IS LOCATED IN CHICOPEE, MA, AND GRANTS ASSOCIATE'S, BACHELOR'S, MASTER'S, AND DOCTOR OF NURSING PRACTICE DEGREES. ELMS COLLEGE IS COMMITTED TO ENSURING THAT ALL EDUCATIONAL AND PERSONNEL ACTIONS ARE ADMINISTERED ON A NON-DISCRIMINATORY BASIS AND ALSO IDENTIFIES AND REMOVES ANY BARRIERS TO EQUAL ACCESS AND EQUAL TREATMENT FOR ALL MEMBERS OF ITS COMMUNITY. A STATEMENT OF EQUAL OPPORTUNITY IS INCLUDED IN OUR STUDENT HANDBOOK, WHICH IS GIVEN TO EVERY STUDENT AND AVAILABLE ON OUR WEBSITE. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE COLLEGE RECEIVES GOVERNMENT FINANCIAL ASSISTANCE WHICH IS AWARDED TO THE STUDENTS AS SCHOLARSHIPS AND OTHER FINANCIAL AID. THE COLLEGE RECEIVED AN EMPLOYEE RETENTION CREDIT IN THE FISCAL YEAR ENDED JUNE 30, 2022. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2315196 CENTRAL AMERICA AND THE CARIBBEAN EDUCATIONAL ASSISTANCE AND SCHOLARSHIPS EDUCATIONAL ASSISTANCE 216504 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES ASSISTANCE 18365 0 0 0 0 0 0 2550065 0 2550065 CENTRAL AMERICA AND THE CARIBBEAN IMPROVE MATERNAL AND CHILD HEALTH OUTCOMES IN HAITI 18365 WIRE 0 0 1 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 47 216504 CREDIT TO TUITION BALANCE 0 0 1 0 0 0 PART III ACCOUNTING METHOD: PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSSFA) APPLICATIONS. THE FUNDS ARE CREDITED AGAINST BILLED CHARGES IN A QUALIFYING STUDENT'S ACCOUNT. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBILITY/ENROLLMENT STATUS ARE MONITORED USING FINANCIAL AID MANAGEMENT SOFTWARE. X X X X X X 1 CHANGING OUR WORLD 1285 AVENUE OF THE AMERICAS NEW YORK NY 10019 CAMPAIGN CONSULTING 0 0 10000 0 FREDERICK MARK WHITTAKER 473 LAKEVIEW AVE HOLDEN ME 04429 CAMPAIGN CONSULTING 0 0 19667 0 29667 FL 1 SCHOLARSHIPS AND GRANTS 763 15125949 PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSSFA) APPLICATIONS. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBILITY ARE MONITORED USING FINANCIAL AID MANAGEMENT SOFTWARE. GRANTS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X 1 1 X X X 0 0 0 0 0 0 0 1 0 HARRY DUMAY PRESIDENT 320958 0 33870 0 43059 0 3293 0 76357 0 477537 0 0 0 KATIE LONGLEY VP OF FIN & ADMIN/TREASURER 173273 0 15000 0 0 0 5007 0 16692 0 209972 0 0 0 WALTER BREAU VP OF ACADEMIC AFFAIRS 181756 0 8368 0 0 0 4810 0 12470 0 207404 0 0 0 KIMBERLY KENNEY-ROCKWAL PROF. BUSINESS MANAGEMENT 147128 0 5214 0 0 0 3800 0 48115 0 204257 0 0 0 JONATHAN SCULLY VP OF ENROLLMENT MANAGEMENT 149997 0 12168 0 0 0 4065 0 669 0 166899 0 0 0 JANET WILLIAMS PROF. BIOLOGY 146767 0 3816 0 0 0 3658 0 946 0 155187 0 0 0 ANTOINETTE BONNIE CANDIA-BAILEY VP STUD AFFAIRS/CHIEF DIVERSITY OFFR 138867 0 7000 0 0 0 0 0 5180 0 151047 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS INCLUDED IN OFFICER'S W-2. PART I, LINE 3 DETERMINING COMPENSATION OF THE COLLEGE'S PRESIDENT AND SENIOR MANAGEMENT INCLUDES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S COMPENSATION IS THEN DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF TRUSTEES. SENIOR MANAGEMENT COMPENSATION IS EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. PART I, LINE 7 DISCRETIONARY BONUSES ARE PAID TO EMPLOYEES AT TIMES BASED ON PERFORMANCE. ALL BONUSES ARE APPROVED IN THE SAME WAY THAT SALARY IS APPROVED. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 NONEAVAIL 2019-12-31 14986000 RESTORATION OF HISTORIC CAMPUS BLDG, REFINANCING & OTHER CAPITAL PROJECTS 0 0 0 A 144912 14986000 216284 3213251 11556465 2020 1 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 RYAN STELZER SON OF TRUSTEE 12250 EMPLOYMENT 0 FR MARK STELZER BROTHER OF TRUSTEE 83776 EMPLOYMENT 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: RYAN STELZER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:SON OF BOARD CHAIR PAUL M. STELZER(D) DESCRIPTION OF TRANSACTION: SON OF BOARD CHAIR IS EMPLOYED BY THECOLLEGE.(A) NAME OF PERSON: FR. MARK STELZER(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:BROTHER OF BOARD CHAIR PAUL M. STELZER(D) DESCRIPTION OF TRANSACTION: BROTHER OF BOARD CHAIR IS EMPLOYED BYTHE COLLEGE. X 5 105341 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): LINE 9 - THE NUMBER OF NONCASH CONTRIBUTIONS IS BASED ON THE NUMBER OF STOCK GIFTS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE DOES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF TRUSTEES. SENIOR MANAGEMENT COMPENSATION IS EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. APPROVAL IS DOCUMENTED BY THE MEETING MINUTES. THIS PROCESS WAS LAST COMPLETED IN OCTOBER 2022. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY TAX ADVISORS OF A NATIONAL ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. THE AUDIT COMMITTEE REVIEWS THE FORM 990 IN DETAIL WITH ADMINISTRATION. THE FORM 990 AND ITS MAJOR COMPONENTS ARE SUMMARIZED AND REVIEWED WITH THE BOARD OF TRUSTEES. IT IS THEN POSTED ON AN INTERNAL TRUSTEE PORTAL AND BOARD MEMBERS ARE PROVIDED TWO WEEKS TO REVIEW THE DOCUMENT. REVIEW IS COMPLETED BEFORE THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE MADE AWARE OF THEIR DUTY TO DISCLOSE ANY CONFLICTS OF INTEREST AND THAT THEY MUST BE DISCLOSED AS SOON AS POSSIBLE ONCE THEY BECOME AWARE. IN OCTOBER 2020, ELMS COLLEGE REVISED THE CONFLICT OF INTEREST POLICY. THE REVISED POLICY APPLIES TO ALL TRUSTEES, NON-TRUSTEE MEMBERS OF COMMITTEES OR SUBCOMMITTEES, OFFICERS AND KEY EMPLOYEES OF THE COLLEGE AND REQUIRES DISCLOSURE OF ANY CONFLICTS OF INTEREST ANNUALLY OR AS SOON AS THEY BECOME AWARE OF A POTENTIAL CONFLICT. UNTIL THE PRESIDENT OR CHAIR OF THE BOARD CAN REVIEW THE POTENTIAL CONFLICT, THE PARTY MUST RECUSE THEMSELVES FROM ANY DELIBERATIONS AND DECISIONS WHICH IMPLICATE THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE DOES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF TRUSTEES. SENIOR MANAGEMENT COMPENSATION IS EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. APPROVAL IS DOCUMENTED BY THE MEETING MINUTES. THIS PROCESS WAS LAST COMPLETED IN OCTOBER 2022. FORM 990, PART VI, SECTION C, LINE 19 COLLEGE OF OUR LADY OF THE ELMS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE BUSINESS OFFICE. FORM 990, PART XI, LINE 9: NET CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -504,433. ELMS COLLEGE FOUNDATION INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 462395041 SUPPORT EDUCATIONAL MISSION OF ELMS COLLEGE MA 501(C)(3) LINE 12A, I COLLEGE OF OUR LADY OF THE ELMS 1 FRIENDS OF ELMS COLLEGE INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 208196902 SUPPORT EDUCATIONAL MISSION OF ELMS COLLEGE MA 501(C)(3) LINE 12A, I COLLEGE OF OUR LADY OF THE ELMS 1 PERPETUAL TRUST (1) C/O ELMS COLLEGE 291 SPFLD ST CHICOPEE MA 01013 CHARITABLE TRUST MA COLLEGE OF OUR LADY OF THE ELMS T 115271 1551895 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 ELMS COLLEGE FOUNDATION INC D 130000 CASH HELD FOR COLLEGE ELMS COLLEGE FOUNDATION INC S 85000 TRANSFER OF CASH HELD FOR COLLEGE