2025-05-12T09:18:50+00:00 2024-06-30 135565207 KPMG LLP 60 South Street Two Financial Cente r Boston MA 02111 990 2023-07-01 010215213 Bowdoin College BOWD 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 SAFA ZAKI PRESIDENT 2025-05-12 true true TARA KENNEY P01245482 6179881000 2025-05-12 2023 2025-03-06 01:10:19Z SAFA ZAKI 5400 COLLEGE STATION BRUNSWICK ME 040118445 788661000 false X WWW.BOWDOIN.EDU X 1794 ME FOUR-YEAR PRIVATE UNDERGRADUATE LIBERAL ARTS COLLEGE. SEE PART III, LINE 1 FOR DETAILED MISSION 40 39 3102 2073 5067000 0 59085000 48332000 149509000 154470000 145388000 165689000 1266000 1285000 355248000 369776000 57711000 65651000 0 0 131370000 140221000 0 22000 8586000 86294000 90573000 275375000 296467000 79873000 73309000 3048898000 3234630000 429804000 431934000 2619094000 2802696000 SEE SCHEDULE O 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 HTTPS://WWW.BOWDOIN.EDU/ABOUT/MISSION/INDEX.HTML (ALL LOWER CASE). false false 251194000 65651000 155780000 DURING FISCAL YEAR 2024, BOWDOIN ENROLLED 1,810 FULL-TIME EQUIVALENT (FTE) STUDENTS, NOT INCLUDING 182 FTE STUDENTS WHO STUDIED OFF CAMPUS; 95% COMPLETE THE DEGREE WITHIN FIVE YEARS; THE STUDENT/FACULTY RATIO IS 9:1; 98% OF FACULTY HAS A PH.D. OR EQUIVALENT. AS OF JUNE 2024, 43,464 STUDENTS HAVE MATRICULATED AT BOWDOIN COLLEGE, AND 35,367 DEGREES IN ACADEMIC PROGRAMS HAVE BEEN AWARDED. 251194000 true true false true false false true true true true true false false true true true false true true true false true true true false false true true true true false true false false false false true false true false true true false false true true true true false false true X 617 0 true 3102 true true true true UK false false false true true false false false false true true X 40 39 false false false false false false false true true false false false true true true true true true true false X X REBECCA COREY 2077215078 5400 COLLEGE STATION BRUNSWICK ME 040118445 SAFA ZAKI PRESIDENT BEGINNING 7/1/23 40.0 X X 602398 0 48734 SCOTT B PERPER CHAIR 8.0 X X 0 0 0 SYDNEY ASBURY VICE CHAIR 8.0 X X 0 0 0 ALISON E RUNDLETT TRUSTEE 4.0 X 0 0 0 ANDREW E SERWER TRUSTEE 4.0 X 0 0 0 ANN HAMBELTON KENYON TRUSTEE 4.0 X 0 0 0 ARTHUR E BLACK TRUSTEE 4.0 X 0 0 0 BERTRAND GARCIA-MORENO TRUSTEE 4.0 X 0 0 0 DAVID G BROWN TRUSTEE 4.0 X 0 0 0 DIANA L SPAGNUOLO TRUSTEE 4.0 X 0 0 0 ELLEN L P CHAN TRUSTEE 4.0 X 0 0 0 HOLLY E MALONEY TRUSTEE 4.0 X 0 0 0 JEFF D EMERSON TRUSTEE 4.0 X 0 0 0 JENNIFER GOLDSMITH ADAMS TRUSTEE 4.0 X 0 0 0 JOAN BENOIT SAMUELSON TRUSTEE 4.0 X 0 0 0 JOHN F MCQUILLAN JR TRUSTEE 4.0 X 0 0 0 JOHN K L THORNDIKE TRUSTEE 4.0 X 0 0 0 JOSEPH ADU TRUSTEE 4.0 X 0 0 0 JOSEPH V MCDEVITT JR TRUSTEE 4.0 X 0 0 0 JULIA L DAVIDSON TRUSTEE 4.0 X 0 0 0 KAREN N WALKER TRUSTEE 4.0 X 0 0 0 KATHRYN ROCHE HOPE TRUSTEE 4.0 X 0 0 0 KATIE R BENNER TRUSTEE 4.0 X 0 0 0 KAYLA D BAKER TRUSTEE 4.0 X 0 0 0 KIMBERLY FOSTER PRICE TRUSTEE UNTIL 2/9/24 4.0 X 0 0 0 MARY HOGAN PREUSSE TRUSTEE 4.0 X 0 0 0 MICHELE G CYR TRUSTEE 4.0 X 0 0 0 MITCHELL S ZUKLIE TRUSTEE 4.0 X 0 0 0 MOLLY H KING TRUSTEE 4.0 X 0 0 0 PAULA M WARDYNSKI TRUSTEE 4.0 X 0 0 0 PETER J BERNARD TRUSTEE 4.0 X 0 0 0 PHILIP W SCHILLER TRUSTEE 4.0 X 0 0 0 R STEWART STRAWBRIDGE TRUSTEE 4.0 X 0 0 0 ROBERT T FRIEDMAN TRUSTEE 4.0 X 0 0 0 RUSSELL C CRANDALL TRUSTEE 4.0 X 0 0 0 SHELLEY A HEARNE TRUSTEE 4.0 X 0 0 0 TASHA VANDERLINDE IRVING TRUSTEE 4.0 X 0 0 0 TEJUS AJMERA TRUSTEE 4.0 X 0 0 0 TRACY R WOLSTENCROFT TRUSTEE 4.0 X 0 0 0 TYREE P JONES JR TRUSTEE 4.0 X 0 0 0 WILLIAM S ANDERSON TRUSTEE 4.0 X 0 0 0 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 40.0 X 408483 0 132076 BENJE DOUGLAS SVP FOR INCLUSION & DIVERSITY 40.0 X 230557 0 69434 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 40.0 X 165899 0 76335 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 40.0 X 262509 0 90496 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 40.0 X 251535 0 106266 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 40.0 X 304567 0 120558 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 40.0 X 375642 0 134993 K NILES BRYANT SVP/CHIEF INVESTMENTS OFFICER 40.0 X 1835626 0 62436 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 40.0 X 340129 0 127140 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 40.0 X 276212 0 92284 SCOTT MEIKLEJOHN SVP FOR DEVELOPMENT & AR 40.0 X 468487 0 82720 STEPHANIE FROST SVP FOR DEVELOPMENT & AR 40.0 X 664956 0 374221 ASHLEY LABRECK ENDOWMENT CHIEF OP OFFICER 40.0 X 451602 0 75674 BORIS RAYKIN DIRECTOR OF INVESTMENTS 40.0 X 970656 0 47366 MICHAEL ARCHIBALD VP FOR DEVELOPMENT & AR 40.0 X 251224 0 63027 PAGE MACHLIN DIRECTOR OF INVESTMENTS 40.0 X 935064 0 46603 TAMA SPOERRI VP FOR HUMAN RESOURCES 40.0 X 258552 0 109090 CLAYTON ROSE FORMER PRESIDENT UNTIL 6/30/23 40.0 X 402912 0 29047 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 40.0 X 221080 0 58452 9678090 0 1946952 286 true true false WRIGHT-RYAN CONSTRUCTION INC 10 DANFORTH STREET PORTLAND ME 04101 CONST. SERVICES 8843571 CONSIGLI CONSTRUCTION CO INC 72 SUMNER STREET MILFORD MA 01757 CONST. SERVICES 2669011 OPTIMUM CONSTRUCTION 91 AUBURN STREET PORTLAND ME 04103 CONST. SERVICES 2505807 COLLABORATIVE SOLUTIONS LLC 300 FRANK W BURR BLVD TEANECK NJ 07666 SOFTWARE SERVICES 1800266 CIGNA PO BOX 644546 PITTSBURGH PA 15264 BENEFITS ADMIN FEES 1492577 73 0 0 53000 0 3582000 44697000 2911000 48332000 TUITION AND FEES 611710 117442000 117442000 0 0 ROOM AND BOARD 611710 30448000 30448000 0 0 AUXILIARY ENTERPRISES 611710 4742000 4494000 248000 0 OFF-CAMPUS STUDY 611710 529000 529000 0 0 APPLICATION FEES 611710 171000 171000 0 0 1138000 1138000 0 0 154470000 15323000 0 2076000 13247000 0 0 0 0 4000 0 0 4000 35000 0 0 0 35000 0 35000 35000 0 0 569136000 46000 418615000 201000 150521000 -155000 150366000 0 2743000 147623000 40000 53000 69000 -29000 0 -29000 0 0 0 0 0 0 0 0 0 0 0 0 RENEWABLE ENERGY CERTIFICATES 611710 532000 532000 0 0 REUNION WEEKEND 611710 306000 306000 0 0 0 0 0 0 437000 437000 0 0 1275000 369776000 155532000 5067000 160845000 647000 647000 64111000 64111000 893000 893000 0 0 9147000 3799000 4143000 1205000 199000 0 199000 0 97952000 80097000 13446000 4409000 10089000 8046000 1556000 487000 15351000 12663000 2020000 668000 7483000 5915000 1200000 368000 0 0 0 0 1080000 0 1080000 0 436000 0 436000 0 24800 0 24800 0 22000 22000 428000 0 428000 0 7404000 4489000 2526000 389000 143000 22000 121000 0 6623000 5143000 1032000 448000 7636000 5502000 2134000 0 0 0 0 0 8180000 6517000 1663000 0 5832000 4833000 576000 423000 0 0 0 0 1239000 879000 236000 124000 14635000 13757000 878000 0 0 0 0 0 19021000 17880000 1141000 0 1107000 952000 155000 0 PURCHASES FOR RESALE 5083000 5083000 0 0 LIBRARY MATERIALS 3580000 3580000 0 0 FACILITIES, MAINT, REP 2565000 2462000 103000 0 EQP RENTAL, MAINT, REP 2404000 2052000 341000 11000 3152200 1872000 1248200 32000 296467000 251194000 36687000 8586000 0 0 115150000 75957000 50116000 47208000 3554000 2114000 0 0 0 0 796000 606000 1623000 1652000 5494000 6048000 648839000 256003000 362816000 392836000 101913000 83993000 2379518000 2595912000 0 0 0 27918000 28304000 3048898000 3234630000 25747000 26096000 366000 124000 1169000 782000 84597000 83682000 25000 29000 0 0 3000000 9458000 0 0 314900000 311763000 429804000 431934000 X 308145000 343950000 2310949000 2458746000 0 0 0 0 0 0 2619094000 2802696000 3048898000 3234630000 X 73309000 109487000 0 0 0 806000 X false true X true true true X 71378000 38857000 49006000 59085000 48332000 266658000 0 0 0 0 0 0 0 0 0 0 0 0 71378000 38857000 49006000 59085000 48332000 266658000 8394003 258263997 15038000 13266000 6721000 13648000 13286000 61959000 0 1082000 6584000 0 3625000 11291000 25000 0 43000 0 40000 108000 340016000 687694000 0.7596 0.7598 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 X 0 0 0 0 0 0 Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING RECEIPTS, COLUMN A - 25000.0, COLUMN B - 0.0, COLUMN C - 43000.0, COLUMN D - 0.0, COLUMN E - 40000.0, COLUMN F - 108000.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 24800 24800 false Schedule C, Part II-B, Line 1 LOBBYING ACTIVITIES LINE 1I: THE ORGANIZATION PAYS MEMBERSHIP DUES TO ASSOCIATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. X X X X false false true X 2422201000 25174000 259519000 50335194 64460806 8692000 2583406000 2472818000 39479000 13066000 42432000 50468000 10262000 2422201000 2718438000 33193000 -189622000 37956000 44283000 6952000 2472818000 1780970000 21252000 1004524000 35295000 42401000 10612000 2718438000 1743671000 18977000 99255000 32721000 39635000 8577000 1780970000 0.0823 0.9177 0.0 false false 7806000 7806000 510299000 191433000 318866000 6048000 3029000 3019000 57418000 46374000 11044000 67268000 15167000 52101000 392836000 FIXED INCOME 19667000 F EQUITIES 545719000 F ABSOLUTE RETURN 837179000 F ALTERNATIVE INVESTMENTS 1193347000 F 2595912000 LIABILITY: POST-RETIREMENT BENEFITS 17796000 ASSET RETIREMENT OBLIGATION 1422000 LIABILITY FOR PV OF LIFE INCOME 12756000 FAIR VALUE OF INTEREST RATE SWAP 2065000 DEFERRED TAX LIABILITY 9000000 EXCISE TAX LIABILITY 1577000 TAXABLE BOND LIABILITIES 255961000 OPERATING/FINANCING LEASE LIAB 11186000 311763000 X 471680000 109487000 0 0 806000 110293000 361387000 8692000 -303000 8389000 369776000 288078000 0 0 0 69000 69000 288009000 8692000 -234000 8458000 296467000 Schedule D, Part III, Line 1a Collections of art - financial statement footnote 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. Schedule D, Part III, Line 4 Collections of art - description of collections COLLEGE COLLECTIONS ARE PRIMARILY ART OBJECTS HELD FOR PUBLIC EXHIBITION AND EDUCATION. Schedule D, Part IV, Line 2b Explanation of escrow agreement THE COLLEGE HOLDS $29,000 OF SECURITY DEPOSITS ON ITS RENTAL PROPERTIES. Schedule D, Part V, Line 4 Intended uses of 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 2024 WERE AS FOLLOWS: FINANCIAL AID 46.9%; FACULTY COMPENSATION, ACADEMIC PROGRAMS AND RESEARCH 23.9%; GENERAL OPERATIONS 18.5%; LIBRARY AND MUSEUM PROGRAM SUPPORT 6.2%. Schedule D, 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. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 NET UNREALIZED GAIN ON INTEREST RATE SWAP - 703000 POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST - 479000 NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS - 1187000 GAIN ON ASSET RETIREMENT OBLIGATION - 150000 UNCOLLECTIBLE PLEDGES - -1713000 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements DEFERRED & EXCISE TAX LIABILITIES - -234000 FUNDRAISING ACTIVITIES DIRECT EXPENSES - -69000 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING ACTIVITIES DIRECT EXPENSES - 69000 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements DEFERRED & EXCISE TAX LIABILITIES - -234000 true true false true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY SEE PART II 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(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT 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. true Central America and the Caribbean Grantmaking 51000 East Asia and the Pacific Grantmaking 43000 Europe (Including Iceland and Greenland) Grantmaking 799000 Central America and the Caribbean Investments 1070454000 East Asia and the Pacific Investments 13000 Europe (Including Iceland and Greenland) Investments 45782000 South Asia Investments 1000 Sub-Saharan Africa Investments 51425000 Europe (Including Iceland and Greenland) Fundraising 4000 Central America and the Caribbean Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 3000 East Asia and the Pacific Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 13000 Europe (Including Iceland and Greenland) Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 99000 North America (Canada & Mexico only) Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 31000 Russia and Neighboring States Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 1000 South America Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 11000 South Asia Program Services PROGRAM SERVICES ACTIVITY INCLUDES STUDENT EDUCATION RELATED TRAVEL, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, RESEARCH, AND RELATED TRAVEL. 20000 East Asia and the Pacific Program Services STUDENT RECRUITMENT 3000 Europe (Including Iceland and Greenland) Program Services STUDENT RECRUITMENT 2000 North America (Canada & Mexico only) Program Services STUDENT RECRUITMENT 2000 North America (Canada & Mexico only) 1 13 Program Services SCIENTIFIC STATION 268000 0 0 1 13 1 13 1168750000 275000 1169025000 FINANCIAL AID Central America and the Caribbean 2 51000 WIRE TRANSFER 0 FINANCIAL AID East Asia and the Pacific 4 43000 WIRE TRANSFER 0 FINANCIAL AID Europe (Including Iceland and Greenland) 33 799000 WIRE TRANSFER 0 true false true true true false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds ELIGIBILITY FOR BOWDOIN GRANT ASSISTANCE IS "NEED BASED 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. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part III Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN -Accrual EAST ASIA AND THE PACIFIC -Accrual EUROPE (INCLUDING ICELAND AND GREENLAND) -Accrual X X X X X X X true RONALD A JOYCE FUNDRAISING CONSULTANT false 0 22000 -22000 0 22000 -22000 GOLF TOURNAMENT 93000 53000 40000 0 2000 32000 34000 0 1000 0 0 93000 53000 40000 0 2000 32000 34000 0 1000 69000 -29000 true TOWN OF BRUNSWICK 85 UNION STREET BRUNSWICK ME 04011 GOV'T 497532 0 CONTRIBUTION BRUNSWICK DOWNTOWN ASSOCIATION PO BOX 15 BRUNSWICK ME 04011 753131242 501(C)(3) 25000 0 CONTRIBUTION TEDFORD HOUSING PO BOX 958 BRUNSWICK ME 04011 010422035 501(C)(3) 22500 0 CONTRIBUTION TOWN OF HARPSWELL PO BOX 39 HARPSWELL ME 04079 GOV'T 21250 0 CONTRIBUTION UNITED WAY OF MID COAST MAINE 34 WING FARM PARKWAY BATH ME 04530 016004866 501(C)(3) 10000 0 CONTRIBUTION 5 0 FINANCIAL AID FOR UNDERGRAD ST. 1037 60508000 0 STUDENT RESEARCH FELLOWSHIPS 841 2907000 0 GRAD. STUDENT AID & POST GRAD. AWARDS 113 529000 0 ACADEMIC & OTHER STUDENT AWARDS 364 167000 0 Schedule I, Part I, Line 2 Procedures for monitoring 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 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 true true X X X X true false false false false false false true false SAFA ZAKI PRESIDENT BEGINNING 7/1/23 447277 0 70000 0 85121 0 18000 0 30734 0 651132 0 0 0 CLAYTON ROSE FORMER PRESIDENT UNTIL 6/30/23 298271 0 0 0 104641 0 822 0 28225 0 431959 0 0 0 MATTHEW ORLANDO SVP FINANCE & ADMIN/TREASURER 405908 0 0 0 2575 0 97621 0 34455 0 540559 0 0 0 ELIZABETH MCCORMACK FRMR SVP FOR ACADEMIC AFFAIRS 217591 0 0 0 3489 0 32270 0 26182 0 279532 0 0 0 K NILES BRYANT SVP/CHIEF INVESTMENTS OFFICER 633736 0 1200000 0 1890 0 43453 0 18983 0 1898062 0 0 0 STEPHANIE FROST SVP FOR DEVELOPMENT & AR 192337 0 100000 0 372619 0 359413 0 14808 0 1039177 0 0 0 SCOTT MEIKLEJOHN SVP FOR DEVELOPMENT & AR 222731 0 0 0 245756 0 81451 0 1269 0 551207 0 150000 0 JENNIFER SCANLON SVP/DEAN FOR ACADEMIC AFFAIRS 358966 0 0 0 16676 0 97621 0 37372 0 510635 0 0 0 MICHAEL CATO SVP/CHIEF INFORMATION OFFICER 336975 0 0 0 3154 0 97375 0 29765 0 467269 0 0 0 JANET LOHMANN SVP/DEAN FOR STUDENT AFFAIRS 301240 0 0 0 3327 0 96389 0 24169 0 425125 0 0 0 SCOTT HOOD SVP FOR COMM & PUBLIC AFFAIRS 271174 0 0 0 5038 0 78180 0 14104 0 368496 0 0 0 CLAUDIA MARROQUIN SVP/DEAN ADMISSIONS & ST. AID 261303 0 0 0 1206 0 71941 0 18555 0 353005 0 0 0 ELIZABETH ORLIC SVP/SPECIAL ASST TO THE PRES 248510 0 0 0 3025 0 75181 0 31085 0 357801 0 0 0 BENJE DOUGLAS SVP FOR INCLUSION & DIVERSITY 229250 0 0 0 1307 0 42254 0 27180 0 299991 0 0 0 CHRISTINA FINNERAN SVP/INSTITUTIONAL RESEARCH 164791 0 0 0 1108 0 49097 0 27238 0 242234 0 0 0 BORIS RAYKIN DIRECTOR OF INVESTMENTS 478547 0 490219 0 1890 0 43453 0 3913 0 1018022 0 0 0 PAGE MACHLIN DIRECTOR OF INVESTMENTS 461250 0 472500 0 1314 0 43453 0 3150 0 981667 0 0 0 ASHLEY LABRECK ENDOWMENT CHIEF OP OFFICER 266304 0 184275 0 1023 0 42880 0 32794 0 527276 0 0 0 TAMA SPOERRI VP FOR HUMAN RESOURCES 252025 0 0 0 6527 0 76373 0 32717 0 367642 0 0 0 MICHAEL ARCHIBALD VP FOR DEVELOPMENT & AR 248696 0 0 0 2528 0 37352 0 25675 0 314251 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel AN OFFICER TRAVELED FIRST-CLASS BY RAIL AND ONE FIRST-CLASS FLIGHT. PER THE COLLEGE'S EXPENSE REIMBURSEMENT POLICY, TRAVEL IS GENERALLY REIMBURSED FOR COACH ACCOMMODATIONS ONLY. THE POLICY PERMITS UPGRADES IN CERTAIN SITUATIONS AND WITH PRIOR APPROVAL. APPROVED UPGRADES ARE NOT INCLUDED IN TAXABLE COMPENSATION. Schedule J, Part I, Line 1a 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. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments AN OFFICER RECEIVED A GROSS-UP PAYMENT ON A TAXABLE GIFT. TWO KEY EMPLOYEES AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED A GROSS-UP PAYMENT ON A TAXABLE LENGTH OF SERVICE AWARD. Schedule J, Part I, Line 1a Housing allowance or residence for personal use 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 THE PRESIDENT. Schedule J, Part I, Line 4a Severance or change-of-control payment A KEY EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $150,000. A KEY EMPLOYEE RECEIVED SUPPLEMENTAL WAGES IN THE AMOUNT $314,500. AN OFFICER HAS AN EMPLOYMENT AGREEMENT WITH A CONDITIONAL SEVERANCE CLAUSE. Schedule J, Part I, Line 7 Non-fixed payments THREE HIGHEST COMPENSATED EMPLOYEES RECEIVED A BONUS WHICH WAS DETERMINED AT THE DISCRETION OF A KEY EMPLOYEE. A MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 010314384 NONEAVAIL 2017-04-03 20700000 REISSUE-2008 BOND false false false B MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 010314384 56042RPK2 2017-12-28 35978713 ADVANCE REFUNDING false false false C MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 010314384 56042RSC7 2018-11-29 32389091 CONSTRUCTION false false false A 20700000 20700000 2017 true false true true B 35978713 409145 35569568 2017 false true true true C 2080000 33121980 386973 32735007 2021 false false true true A false true false false 0.0 0.0 0.0 false false true B false true false false 0.0002 0.0 0.0002 false false true C false false false false 0.0 0.0 0.0 false false true A false false false true true false false false true B false false false true false false false false true C false false false true false false false false true A true B true C true Schedule K, Part I, Column (f) BOND A THE ISSUE IS A DIRECT PLACEMENT REMARKETING OF THE SERIES 2008 ISSUED 03/24/2008. Schedule K, Part I, Column (f) BOND B PARTIALLY ADVANCE REFUND 2009A ISSUED 05/14/2009. Schedule K, Part I, Column (f) BOND C 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. Schedule K, Part II, Line 11 COLUMN A, B THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW. Schedule K, 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. Schedule K, Part III, Line 4 COLUMN A THE EQUITY CONTRIBUTION TO THE PROJECT IS GREATER THAN THE THIRD PARTY USE OF THE SPACE SO THERE IS NO PRIVATE BUSINESS USE. Schedule K, Part IV, Line 2c COLUMN A Issuer name: MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 05/03/2022 Schedule K, Part IV, Line 2c COLUMN B Issuer name: MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 11/29/2021 Schedule K, Part IV, Line 2c COLUMN C Issuer name: MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY The calculation for computing no rebate due was performed on 12/28/2021 NA N/A 7650 SCHOLARSHIP BENEFIT SPOUSE OF OFFICER OFFICER: M. ORLANDO 16000 COMPENSATION false SPOUSE OF KEY EMPLOYEE KEY EMP: S. HOOD 183000 COMPENSATION false X 721 0 Other - SEE PART II X 113 2911000 Other - SEE PART II 11 false true false Schedule M, Part I, Line 9 PUBLICLY TRADED SECURITIES 112 GIFTS OF PUBLICLY TRADED SECURITIES WERE VALUED AT FAIR MARKET VALUE. 1 PLANNED GIFT WAS VALUED AT NET PRESENT VALUE. Schedule M, Part I, Line 33 WORKS OF ART THE COLLEGE DOES NOT RECOGNIZE REVENUE FOR CONTRIBUTIONS OF ART OBJECTS OR BOOKS AND PUBLICATIONS. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS CONTRIBUTED. Securities - Publicly traded - THE ORGANIZATION IS REPORTING EACH SEPARATE SECURITY GIFT AS A CONTRIBUTION. Form 990, Part VI, Line 11b Review of form 990 by governing body 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, 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, Line 15a Process to establish compensation of top management official 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, Line 19 Required documents available to the public 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 HTTPS://WWW.BOWDOIN.EDU/FINANCE/FINANCIAL-DOCUMENTS/INDEX.HTML (ALL LOWER CASE). Form 990, Part VIII, Line 2f Other Program Service Revenue ALL OTHER PROGRAM SERVICE REVENUE - Total Revenue: 1138000, Related or Exempt Function Revenue: 1138000, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 437000, Related or Exempt Function Revenue: 437000, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Form 990, Part XI, Line 9 Other changes in net assets or fund balances NET UNREALIZED GAIN ON INTEREST RATE SWAP - 703000; POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC COST - 479000; NET CHANGE IN ANNUITY AND LIFE INCOME FUNDS - 1187000; GAIN ON ASSET RETIREMENT OBLIGATION - 150000; UNCOLLECTIBLE PLEDGES - -1713000; POLAR BEAR INVESTMENTS LLC 5400 COLLEGE STATION BRUNSWICK ME 04011 043375078 INVESTMENTS ME 4061224 238813853 BOWDOIN TIGER PARTNERS 565 FIFTH AVENUE 19TH FL NEW YORK NY 10017 550648835 INVESTING NY N/A Excluded 0 40659 false true VERSO OPPORTUNITIES FUND LP 400 PACIFIC AVE FLOOR 2 SAN FRANCISCO CA 94133 874310965 INVESTING CA N/A Excluded 1157659 26677764 false false POOLED INCOME FUNDS (3) 5400 COLLEGE STATION BRUNSWICK ME 04011 INVESTING ME BOWDOIN Trust true CHARITABLE REMAINDER TRUSTS (17) 5400 COLLEGE STATION BRUNSWICK ME 04011 INVESTING ME BOWDOIN Trust true false false false false false false false false false false false false false false false false false false true POOLED INCOME FUND B S 471727 FMV POOLED INCOME FUND C S 141154 FMV Schedule R, Part IV (c) Legal domicile 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 17 CHARITABLE REMAINDER TRUSTS REPORTED IN PART IV. 11 ARE DOMICILED IN MAINE, 1 IN CALIFORNIA, 1 IN CONNECTICUT, 1 IN ILLINOIS, 1 IN NEW JERSEY, 1 IN NEW YORK AND 1 IN NORTH CAROLINA.