2025-05-05T12:13:13-07:00 2024-06-30 990 2023-07-01 930386908 REED INSTITUTE REED 5037777505 3203 SE Woodstock Blvd Portland OR 972028199 Robert Tust Associate Treasurer and Controller 5037777505 2025-02-17 1 2023 2025-03-06 01:10:19Z REED COLLEGE ROBERT TUST BUSINESS OFFICE 3203 SE WOODSTOCK BLVD PORTLAND OR 97202 309340719 0 X www.reed.edu X 1908 OR Provide education in the liberal arts and sciences 32 31 1775 1027 5312629 1939304 24438552 34644039 114923252 117016245 10135189 52927966 856467 107263 150353460 204695513 37455093 41032815 0 0 68079418 68971326 0 42995 6020856 46595189 48191411 152129700 158238547 -1776240 46456966 1040957477 1135702740 177665295 180387429 863292182 955315311 The mission of Reed College is to provide education in the liberal arts and sciences. 0 0 2386292 2386292 The Institute had 34 research grants funded with federal funds. Departments funded were Biology, Chemistry, Humanities, Physics, Psychology, Math, Sociology, and the nuclear reactor. 114670641 41032815 97079537 1,422 FTE Students as of Fall 2023, 315 degrees conferred 23/24. 22446096 17550416 Auxiliary services - students living in dorms, using dining facilities and bookstore. 0 0 0 139503029 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 2086 0 1 1775 1 1 1 0 0 0 0 0 1 3 0 0 0 0 0 0 0 0 0 1 X 32 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 OR X X Lynn Valenter 5037777240 Vice President and Treasurer 3203 SE Woodstock Blvd Portland OR 972028199 Audrey Bilger President 40 0 X X 670868 0 51478 Erik Bernhardt Chief Investment Officer 40 0 X 431048 0 56936 Hugh Porter Vice President for College Relations and Planning 40 0 X 416077 0 54603 Lynn Valenter Vice President of Finance and Treasurer 40 0 X 368557 0 51483 Kathryn Oleson Dean of the Faculty 40 0 X 249710 0 46221 Milyon Trulove Vice President and Dean of Admission and Financial Aid 40 0 X 242477 0 47953 Valerie Moreno Chief Information & Security Officer 40 0 X 235608 0 41729 Andrew Lonergan Director of Investments 40 0 X 230980 0 41071 Karnell McConnell-Black Vice President for Student Life 40 0 X 226879 0 32877 Phyllis Esposito Vice President and Dean for Institutional Diversity 40 0 X 206975 0 39180 Robert Tust Associate Treasurer and Controller 40 0 X 201741 0 41473 Sheena McFarland Executive Director Public Affairs & Communications 40 0 X 206667 0 34991 Sarah Panetta Executive Director of Advancement 40 0 X 202770 0 34060 Laurence 'Larry' Abramson '80 Trustee 1 0 X 0 0 0 Julia P Adams '80 Trustee 1 0 X 0 0 0 Alea Adigweme '06 Trustee 1 0 X 0 0 0 Konrad S Alt '81 Trustee 1 0 X 0 0 0 Michael S Axley '89 Trustee 1 0 X 0 0 0 Carla J Beam '76 Trustee 1 0 X 0 0 0 Peter J Bragdon Trustee 1 0 X 0 0 0 M Jane Buchan Trustee 1 0 X 0 0 0 Julie JL Cheng '84 Trustee 1 0 X 0 0 0 Thomas O Daniel Trustee 1 0 X 0 0 0 Nicholas G Galakatos '79 Trustee 1 0 X 0 0 0 Edward 'Ned' Hall '87 Trustee 1 0 X 0 0 0 Linda G Howard '70 Trustee 1 0 X 0 0 0 George M James '77 Trustee 1 0 X 0 0 0 Deborah D Kamali '85 Trustee 1 0 X 0 0 0 Amy M Madigan Trustee 1 0 X 0 0 0 Alex J Martinez '73 Trustee 1 0 X 0 0 0 Winthrop 'Win' McCormack Trustee 1 0 X 0 0 0 Margaret Hill Noto '75 Trustee-Secretary 1 0 X X 0 0 0 Eduardo M Ochoa '73 Trustee 1 0 X 0 0 0 Ritankar 'Ronti' Pal '93 Trustee 1 0 X 0 0 0 Darlene D Pasieczny '01 Trustee 1 0 X 0 0 0 Roger M Perlmutter '73 Trustee-Chair 1 0 X X 0 0 0 Gary Rieschel '79 Trustee 1 0 X 0 0 0 Lisa Saldana '94 Trustee 1 0 X 0 0 0 John P Sheehy '82 Trustee 1 0 X 0 0 0 Tina Sohaili-Korbonits '07 Trustee 1 0 X 0 0 0 Susan Sokol Blosser '86 Trustee 1 0 X 0 0 0 Alice Larkin Steiner '74 Trustee 1 0 X 0 0 0 Peter C Stockman '77 Trustee 1 0 X 0 0 0 Richard 'Rick' H Wollenberg '75 Trustee-Vice Chair 1 0 X X 0 0 0 3890357 0 574055 144 0 1 0 Fortis Construction Inc 1705 SW Taylor St Ste 200 Portland OR 97205 Construction 16172443 Bon Appetit Suite 100 2730 Sand Hill Road Menlo Park CA 94025 Food service 5909003 Otto Harrassowitz 65174 Wiesbaden Allenmagne GM 65174 Library services and subcriptions 1850091 HMS Commercial Service Inc 4103 SE International Way Ste 303 Portland OR 97222 Construction 1473679 Reimers & Jolivette Inc 2344 NW 24th Ave Portland OR 972102132 Construction 1429183 42 0 0 0 0 2658676 31985363 16803352 34644039 Tuition and fees 611310 97220960 97220960 0 0 Aux-Dorm fees 611710 8847706 8847706 0 0 Aux-Cafeteria fees 611710 7221145 7221145 0 0 Aux-Bookstore fees 611710 893552 893552 0 0 Other fees 611310 2832882 2832882 0 0 0 0 0 0 117016245 2903247 0 4150026 -1246779 0 0 0 0 0 0 0 0 487882 0 380619 0 107263 0 107263 0 0 107263 154289306 0 104264587 0 50024719 0 50024719 0 1162603 48862116 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 204695513 117016245 5312629 47722600 0 0 41032815 41032815 0 0 0 0 2867566 904649 1433973 528944 0 0 0 0 45740252 40038282 2671820 3030150 4295453 3618110 362827 314516 12539554 10562212 1059188 918154 3528501 2972097 298045 258359 0 0 0 0 336454 296596 27962 11896 222010 1762 220248 0 0 0 0 0 42995 42995 0 0 0 0 14945024 13952973 775246 216805 0 0 0 0 7099640 6709557 221612 168471 2226251 1977812 164195 84244 0 0 0 0 2717482 2665623 44027 7832 2533059 2023699 188073 321287 0 0 0 0 0 0 0 0 5030004 4752759 235295 41950 0 0 0 0 7276260 6901689 317894 56677 1612528 648846 963576 106 4192699 443548 3730681 18470 158238547 139503029 12714662 6020856 43703 35429 11221978 21400328 4163599 4530856 2607385 1604836 45699 39949 0 0 1644425 1488593 0 0 1411946 848266 321316254 138631654 169073868 182684600 171373929 144072996 671740531 775150072 0 0 0 0 7630414 3846815 1040957477 1135702740 9354865 11121604 0 0 1782975 1021431 0 0 0 0 0 0 123928790 123966202 42598665 44278192 177665295 180387429 X 467513696 509145769 395778486 446169542 863292182 955315311 1040957477 1135702740 X 46456966 47623345 0 0 0 -2057182 X 0 1 X 1 1 1 X 28043981 15742377 24672636 24438552 34644039 127541585 0 0 0 0 0 0 0 0 0 0 0 0 28043981 15742377 24672636 24438552 34644039 127541585 13121312 114420273 3419337 182552 2591242 2113187 487882 8794200 809254 1939304 2748558 0 0 5985829 725243 0 6711072 145795415 538527292 0.78480 0.8164 X Schedule A, Part II, Line 10 Net periodic benefit cost, excluding service cost. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 70000 0 565266 0 1 1 720867118 9214767 96958900 11026716 23709891 1343056 790961122 696435203 10905209 46718662 10114676 21895500 1181780 720867118 747245126 8981442 -29276734 9254153 20216123 1044355 696435203 545093997 3583571 228220147 9007314 19705050 940225 747245126 552893342 10392051 10802125 8809045 19215535 968941 545093997 0.5 0.3 0.2 0 0 0 14777362 14777362 0 262409702 120477477 141932225 0 0 0 0 0 19919301 18154177 1765124 0 24209889 0 24209889 182684600 0 0 Alternative Investments 775150072 F 775150072 0 Postretirement benefits payable 25314420 Liability for split-interest agreements 11734777 Asset retirement obligation 6355261 Refundable loan programs 542303 Other 331431 44278192 X 211096769 47623345 0 0 0 47623345 163473424 0 41222089 41222089 204695513 119087224 0 0 0 0 0 119087224 0 39151323 39151323 158238547 Schedule D, Part V, Line 4 The college's endowment funds are used for scholarships, chairs, academic support, library support, student services, and general operating support. Schedule D, Part X, Line 2 The Internal Revenue Service has recognized Reed College as exempt from tax under provisions of Section 501(a) as an organization described under Section 501(c)(3) of the Internal Revenue Code, except to the extent of unrelated business income under Sections 511 through 515 and certain excise tax programs on investment income. Management believes that unrelated business income tax, if any, is immaterial, and therefore, no tax provision has been made. The College accounts for income taxes in accordance with FASB ASC Subtopic 740-10, Income Taxes - Overall, which clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a threshold of more likely than not for recognition of tax benefits of uncertain tax positions taken or expected to be taken in a tax return. Schedule D, Part XI, Line 4b Scholarships $39,503,142; Net periodic benefit cost, excluding service cost $2,057,182;Rental expenses -$380,619; Grayco $42,384 Schedule D, Part XII, Line 4b Scholarships $39,503,142; Rental expenses -$380,619; Grayco $28,800 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Link to Title IX policy and Diversity, Equity and Inclusion are available on the main website - https://www.reed.edu/ Schedule E, Part I, Line 6 Financial assistance is from Title IV programs. Central America and the Caribbean 0 0 Investments 22055658 Europe (including Iceland and Greenland) 0 0 Investments 8207652 East Asia and the Pacific 0 0 Investments 2138479 South Asia 0 0 Investments 1323481 0 0 33725270 1 0 1 1 1 0 X X 1 GiveCampus 99 M St SE Ste 233 Washington DC 20003 Educational fundraising platform. 1 186948 16725 170223 Ruffalo Noel Levitz PO Box 718 Des Moines IA 50303 Educational fundraising. 0 0 26270 -26270 186948 42995 143953 OR WA 1 Scholarships to students for tuition, fees, room and board 852 39503142 0 Fellowships, research grants and other awards to students 357 1212988 0 Scholarships to students for course and program fees 102 316685 0 Schedule I, Part I, Line 2 The financial aid office awards grants to students based on student financial aid application. Once classes begin, grants are disbursed to the student account where they offset tuition charges. X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Audrey Bilger President 586664 0 0 0 84204 0 33000 0 18478 0 722346 0 0 0 Erik Bernhardt Chief Investment Officer 369009 0 61176 0 863 0 33000 0 23936 0 487984 0 0 0 Hugh Porter Vice President for College Relations and Planning 414232 0 0 0 1845 0 33000 0 21603 0 470680 0 0 0 Lynn Valenter Vice President of Finance and Treasurer 367657 0 0 0 900 0 33000 0 18483 0 420040 0 0 0 Kathryn Oleson Dean of the Faculty 249710 0 0 0 0 0 24971 0 21250 0 295931 0 0 0 Milyon Trulove Vice President and Dean of Admission and Financial Aid 241577 0 0 0 900 0 24158 0 23795 0 290430 0 0 0 Valerie Moreno Chief Information & Security Officer 235608 0 0 0 0 0 23561 0 18168 0 277337 0 0 0 Andrew Lonergan Director of Investments 197054 0 33086 0 840 0 19705 0 21366 0 272051 0 0 0 Karnell McConnell-Black Vice President for Student Life 226879 0 0 0 0 0 22688 0 10189 0 259756 0 0 0 Phyllis Esposito Vice President and Dean for Institutional Diversity 206975 0 0 0 0 0 20698 0 18482 0 246155 0 0 0 Sheena McFarland Executive Director Public Affairs & Communications 191667 0 0 0 15000 0 18333 0 16658 0 241658 0 0 0 Sarah Panetta Executive Director of Advancement 201670 0 0 0 1100 0 20167 0 13893 0 236830 0 0 0 Robert Tust Associate Treasurer and Controller 201741 0 0 0 0 0 20174 0 21299 0 243214 0 0 0 Schedule J, Part I, Line 1a Housing is required as a condition of employment for the President and is provided as a taxable benefit. In limited circumstances, first-class accommodations are provided for the president and companion travel for bona-fide business purposes. The college pays membership dues to health and social clubs for use by certain officers for meetings and networking related to college business. The college does not directly indemnify individuals in regard to taxes; however, it has in some circumstances, grossed-up the benefit to offset a portion of the employee's taxable benefit. Milyon Trulove Current Officer Housing Loan X 60000 39949 0 0 1 39949 X 58 16803352 market value 0 0 1 0 Schedule M, Part I, Line 9 The number reported in Part1, column (b) represents a combination of contributions and items contributed. Form 990, Part VI, Section B, Line 11b An electronic draft of the Form 990 is provided to the Audit Committee of the Board of Trustees. The committee reviews, discusses, and provides input to management. After the Audit Committee accepts the Form 990, it is made available to all trustees for review. After any further trustee questions are resolved and a final copy of the return has been provided to the entire board, the Form 990 is filed. A summary of Schedule B rather than the full schedule was distributed to the Audit committee and the entire board to maintain donor confidentiality. Form 990, Part VI, Section B, Line 12c Reed requires all officers and institutional trustees to complete a conflict of interest form annually. The form includes the college's conflict of interest policy and asks each individual about the existence of conflicts of interest. If a conflict of interest exists the officer or trustee is asked to describe the situation in their response. These forms are reviewed by the Vice-President of Finance and Treasurer, and the Chair of the Audit Committee of the Board. Persons with a conflict are prohibited from participating in the Board and officer deliberations and decisions in those transactions. Form 990, Part VI, Section B, Line 15 The Executive Committee, which is comprised of independent Trustees and which functions as the College's compensation committee, annually reviews presidential and officer compensation data from comparable colleges along with other data provided by the Human Resources Office. They also conduct an annual performance evaluation of the President and review of salary changes proposed by the President for other officers. Any changes in the President's compensation are approved by the Executive Committee, and communicated by the Chair of the Board of Trustees in writing to the President. These reviews are completed in June of each year. Form 990, Part VI, Section C, Line 19 Governing documents are available upon request. Conflict of interest policy and financial statements are available on the College's Office of the Treasurer website. Form 990, Part XI, Line 9 Post retirement benefit, net of service cost. David Eddings Fund LLC 3203 SE Woodstock Blvd Portland OR 97202 450929229 Holding Company OR REED INSTITUTE Excluded 50039 223456 0 0 1 0.67 Grayco Resources Inc 3203 SE Woodstock Blvd Portland OR 97202 930603357 Rental Activity OR The Reed Institute C 40833 990259 1 1 Charitable remainder trust (27) 3203 SE Woodstock Blvd Portland OR 97202 Trust OR The Reed Institute T 0 Pooled Income Fund (1) 3203 SE Woodstock Blvd Portland OR 97202 Pooled Income Fund OR The Reed Institute T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 Grayco Resources Inc k 70000 Lease payments.