2025-05-15T11:06:22-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2023-07-01 042225850 COLLEGE OF OUR LADY OF THE ELMS COLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 BRETT CARROLL VP OF FINANCE & ADMINISTRATION 4135942761 2025-05-15 1 0 LAURA J KENNEY P00202198 6177170831 2025-05-14 2023 2025-03-06 01:10:19Z HARRY DUMAY 291 SPRINGFIELD STREET CHICOPEE MA 01013 51728164 0 X WWW.ELMS.EDU X 1928 MA TO EDUCATE A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. 32 29 677 65 0 0 7576912 6389626 38234854 42481803 359603 1006885 1640842 596774 47812211 50475088 15288127 18949852 0 0 18194418 19521660 7250 17988 856794 11573658 11160374 45063453 49649874 2748758 825214 79290502 82947217 18150584 18517573 61139918 64429644 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 36994531 18949852 39003504 THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY AND 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 2023/2024 SCHOOL YEAR, WE SERVED 1,657 FULL AND PART TIME STUDENTS. 1308461 3478299 AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. DURING THE YEAR 2,217 PEOPLE WERE SERVED. 38302992 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 1 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 1 0 0 1 149 0 1 677 1 0 0 0 0 0 0 0 0 0 0 0 0 X 32 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X BRETT CARROLL 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 BETH E ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 KATHLEEN L BERNARDO TRUSTEE 2.00 0.00 X 0 0 0 JEAN R BOSTLEY SSJ TRUSTEE 2.00 0.00 X 0 0 0 PASCALE DESIR TRUSTEE 2.00 0.00 X 0 0 0 B JOHN DILL TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH G DINEEN TRUSTEE 2.00 0.00 X 0 0 0 DENNIS DUQUETTE TRUSTEE 2.00 0.00 X 0 0 0 LAWRENCE F EAGAN TRUSTEE 2.00 0.00 X 0 0 0 MARK M FULCO TRUSTEE 2.00 0.00 X 0 0 0 LINDSEY M GAMBLE TRUSTEE 2.00 0.00 X 0 0 0 MELISSA R GILLIS TRUSTEE 2.00 0.00 X 0 0 0 FAWWAZ HABBAL TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN FERRITER HAGAN TRUSTEE 2.00 0.00 X 0 0 0 PETER J HARRINGTON TRUSTEE 2.00 0.00 X 0 0 0 REGINA NOONAN HITCHERY TRUSTEE 2.00 0.00 X 0 0 0 CAROLYN JACOBS TRUSTEE 2.00 0.00 X 0 0 0 PAUL MARCHESE TRUSTEE 2.00 0.00 X 0 0 0 MARK O'CONNELL TRUSTEE 2.00 0.00 X 0 0 0 CATHERINE ORMOND SSJ TRUSTEE 2.00 0.00 X 0 0 0 FRANK ROBINSON TRUSTEE 2.00 0.00 X 0 0 0 MARTHA R ROSS TRUSTEE 2.00 0.00 X 0 0 0 ELEANOR M SPRING SSJ TRUSTEE 2.00 0.00 X 0 0 0 CHERYL STANLEY TRUSTEE 2.00 0.00 X 0 0 0 BETSY SULLIVAN SSJ TRUSTEE 2.00 0.10 X 0 0 0 EILEEN O'LEARY SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 RICHARD K SULLIVAN JR TRUSTEE 2.00 0.00 X 0 0 0 JANE THOMAS SSJ TRUSTEE 2.00 0.00 X 0 0 0 ASHLEY VANASSE TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL K VANN TRUSTEE 2.00 0.00 X 0 0 0 LISA WILLS TRUSTEE 2.00 0.00 X 0 0 0 BRYANT MORGAN 324 TO 1024 INTERIM VP FIN & ADMIN/TREASURER 35.00 0.00 X 0 0 0 HARRY DUMAY PRESIDENT 35.00 0.10 X 395610 0 36905 KATIE LONGLEY VP OF FIN & ADMIN/TREASURER 35.00 0.10 X 191931 0 29405 BEVIN PETERS BOARD LIASON/EXEC. ASST. TO PRES. 35.00 0.00 X 60041 0 11049 KRISTEN KIRWAN BOARD LIASON - THRU OCT 2023 17.00 0.00 X 16850 0 0 WALTER BREAU EXEC DEAN CE/ASC. PROF. BIOLOGY 35.00 0.10 X 162784 0 23435 AMANDA GARCIA DIRECTOR, MBA PROGRAM 35.00 0.00 X 169368 0 28135 TERESA RESKE INTERIM DEAN OF NURSING 35.00 0.00 X 156082 0 22685 PETER DEPERGOLA ASC PROF BIOETHICS & MED HUMANITIES 35.00 0.00 X 163015 0 8368 EMILY CABRERA ASC. PROF. NURSING/DIR. RN-BSN PROG 35.00 0.00 X 151756 0 27571 JANET WILLIAMS PROFESSOR OF BIOLOGY 35.00 0.00 X 162467 0 9312 1629904 0 196865 19 0 1 0 ELIOR INC ALADDIN FOOD MANAGEMENT SERV 300 S TRYON ST STE 400 CHARLOTTE NC 28202 FOOD SERVICES 1391560 KEITER CORPORATION 1 INTERSTATE DRIVE WEST SPRINGFIELD MA 01089 CONSTRUCTION SERVICES 1077206 BURTON F CLARK INC (DBA CLARK COMPANIES) 41155 STATE HIGHWAY 10 DELHI NY 13753 ATHLETIC FACILITY CONSTRUCTION SERVICES 800049 GLE LLC DBA AMITY ABATEMENT 232 AMITY RD WOODBRIDGE CT 06525 ASBESTOS MANAGEMENT SERVICES 798485 COLLINS ELECTRIC INC 53 SECOND AVENUE CHICOPEE MA 01020 ELECTRICAL CONTRACTOR 324143 21 81000 1680285 4628341 393529 6389626 TUITION AND FEES 611310 39003504 39003504 ROOM, BOARD & AUXILIAR 611310 3478299 3478299 42481803 957372 957372 139541 0 139541 139541 139541 1295056 1245543 49513 49513 49513 0 81000 7533 -7533 -7533 OTHER INCOME 611310 417841 417841 EXTRAORDINARY GAIN 611310 46925 46925 464766 50475088 42946569 0 1138893 18446642 18446642 503210 503210 1302485 655149 516663 130673 125569 125569 15194261 11703689 3019344 471228 258004 189725 56642 11637 1476739 421841 1017442 37456 1164602 877072 254552 32978 35236 35236 96999 96999 17988 17988 45830 45830 1403149 561577 841572 341933 7484 334449 842127 700213 106556 35358 432067 39402 392665 966879 110629 856250 270974 255787 14438 749 471858 295506 164049 12303 503346 313529 178136 11681 2492567 1552595 882129 57843 367554 367554 FOOD SERVICES 1213100 1213100 INSTITUTIONAL SUPPORT 1010006 63270 946736 EQUIPMENT RENTAL & MAIN 340362 75624 229286 35452 326387 191379 133560 1448 49649874 38302992 10490088 856794 469787 517471 13390251 11349175 1899126 3313975 3514009 3367580 476030 373040 438001 517012 80190530 44577110 35114886 35613420 14890434 15909755 9016204 11571023 81774 414766 79290502 82947217 1944907 2490832 1566146 1549611 14354089 14056378 232476 191287 52966 229465 18150584 18517573 X 41055293 41161650 20084625 23267994 61139918 64429644 79290502 82947217 X 825214 2234218 230294 X 0 1 X 1 1 1 X 5149689 7946251 8237088 7576912 6389626 35299566 5149689 7946251 8237088 7576912 6389626 35299566 3075602 32223964 343733 380449 917785 930999 1096913 3669879 38969445 201222121 0.82690 0.82390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 70870 X X X 0 0 1 X 23194978 1404504 3095550 808069 45830 26841133 19429773 2340290 2175399 713471 37013 23194978 20473525 2539831 -2956915 591578 35090 19429773 15832320 1228328 4030614 539697 78040 20473525 13737663 2459276 151204 486516 29307 15832320 0.31323 0.53854 0.14822 1 1 1 144370 144370 55248673 23995637 31253036 22001372 18277096 3724276 2796115 2304377 491738 35613420 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2437168 F LIMITED PARTNERSHIPS 3187990 F FIXED INCOME INVESTMENTS 5945865 F 11571023 ANNUITY OBLIGATIONS 18226 OPERATING LEASE LIABILITY 211239 229465 X 34129354 2234218 17941 237827 2489986 31639368 45830 18789890 18835720 50475088 30839628 17941 7533 25474 30814154 45830 18789890 18835720 49649874 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. THE ALUMNAE LIBRARY ALSO HAS A COLLECTION OF SOME 1000 RARE BOOKS DATING BETWEEN 1521 AND 1900. THE LIBRARY ALSO OWNS ONE MEDIEVAL MANUSCRIPT AND ABOUT A HALF-DOZEN FRAMED MEDIEVAL PAGES. 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, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 230,294. FUNDRAISING EVENT EXPENSES 7,533. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 18,789,890. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 7,533. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 18,789,890. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: ELMS COLLEGE IS A PRIVATE, CATHOLIC, COEDUCATIONAL LIBERAL ARTS COLLEGE FOUNDED IN 1928 BY THE SISTERS OF ST. JOSEPH OF SPRINGFIELD, MA. THROUGH ITS PRESIDENT AND BOARD OF TRUSTEES, THE COLLEGE REAFFIRMS A POLICY OF EQUAL OPPORTUNITY AND NON-DISCRIMINATION IN EMPLOYMENT, AS WELL AS IN THE RECRUITMENT, ADMISSIONS AND RETENTION OF STUDENTS. OUR COLLEGE IS COMMITTED TO ENSURING ALL EDUCATIONAL AND PERSONNEL ACTIONS ARE ADMINISTERED ON A NON-DISCRIMINATORY BASIS AND ASSURES THAT EACH ADMINISTRATIVE OFFICER UNDERSTANDS THEIR RESPONSIBILITY TO SUPPORT THIS POLICY. 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. 1 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 3187990 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES EDUCATIONAL ASSISTANCE 343248 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES ASSISTANCE 159962 0 0 0 0 0 0 3691200 0 3691200 CENTRAL AMERICA AND THE CARIBBEAN IMPROVE MATERNAL AND CHILD HEALTH OUTCOMES IN HAITI 52235 WIRE 107727 ACCRUED EXPENSES COST 0 1 STUDENT SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 105 343249 CREDIT TO TUITION BALANCE COST 0 0 1 0 0 0 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 FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FUNDS ARE CREDITED AGAINST BILLED CHARGES IN A QUALIFYING STUDENT'S ACCOUNT. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBILITY STATUS ARE MONITORED USING FINANCIAL AID MANAGEMENT SOFTWARE. GRANTS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X X X X X X 1 FREDERICK MARK WHITTAKER 473 LAKEVIEW AVE HOLDEN ME 04429 SENIOR PHILANTHROPIC ADVISOR SERVICES 0 0 17988 0 17988 FL EXECUTIVE LEADERSHIP BREAKFAST 81000 81000 627 5292 1614 81000 81000 627 5292 1614 7533 -7533 1 SCHOLARSHIPS AND GRANTS 851 18446642 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 FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FUNDS ARE CREDITED AGINST BILLED CHARGES IN A QUALIFYING STUDENT'S ACCOUNT. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBLITY/ENROLLMENT STATUS 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 323237 0 28545 0 43828 0 16500 0 20405 0 432515 0 0 0 KATIE LONGLEY VP OF FIN & ADMIN/TREASURER 184931 0 7000 0 0 0 10274 0 19131 0 221336 0 0 0 AMANDA GARCIA DIRECTOR, MBA PROGRAM 169368 0 0 0 0 0 9084 0 19051 0 197503 0 0 0 WALTER BREAU EXEC DEAN CE/ASC. PROF. BIOLOGY 162784 0 0 0 0 0 8923 0 14512 0 186219 0 0 0 EMILY CABRERA ASC. PROF. NURSING/DIR. RN-BSN PROG 151756 0 0 0 0 0 8099 0 19472 0 179327 0 0 0 TERESA RESKE INTERIM DEAN OF NURSING 156082 0 0 0 0 0 8458 0 14227 0 178767 0 0 0 JANET WILLIAMS PROFESSOR OF BIOLOGY 162467 0 0 0 0 0 8123 0 1189 0 171779 0 0 0 PETER DEPERGOLA ASC PROF BIOETHICS & MED HUMANITIES 163015 0 0 0 0 0 8151 0 217 0 171383 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 4 DURING CALENDAR YEAR 2023 DISCRETIONARY BONUSES WERE PAID TO THE FOLLOWING INDIVIDUALS LISTED IN FORM 990 PART VII: HARRY DUMAY $28,545 KATIE LONGLEY $7,000 BEVIN PETERS $2,000 JOYCE HAMPTON $4,000 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 745781 14986000 216284 3213251 11556465 2020 1 0 1 1 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 12000 SCHOLARSHIPS EDUCATION FR MARK STELZER BROTHER OF TRUSTEE 79737 EMPLOYMENT 0 LYNN GAMBLE RELATIVE OF TRUSTEE 39131 EMPLOYMENT 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (1)(A) NAME OF PERSON: FR. MARK STELZER(1)(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:BROTHER OF BOARD CHAIR PAUL M. STELZER(1)(D) DESCRIPTION OF TRANSACTION: BROTHER OF BOARD CHAIR IS EMPLOYED BY THE COLLEGE.(2)(A) NAME OF PERSON: LYNN GAMBLE(2)(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:MOTHER IN LAW OF TRUSTEE LINDSEY GAMBLE(2)(D) DESCRIPTION OF TRANSACTION: MOTHER IN LAW OF TRUSTEE IS EMPLOYED BY THE COLLEGE. X 3 383529 FAIR MARKET VALUE X 1 10000 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) - THE NUMBER OF NONCASH CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE ADMINISTRATION REVIEWS THE COMPLETE FORM 990 AND ACCOMPANYING SCHEDULES IN DETAIL WITH THE AUDIT COMMITTEE FOR THEIR APPROVAL. A COMPLETE COPY OF THE APPROVED FORM 990 AND ITS MAJOR COMPONENTS IS DISTRIBUTED TO THE BOARD OF TRUSTEES THROUGH AN INTERNAL TRUSTEE PORTAL PRIOR TO FILING. TRUSTEES ARE ALSO INVITED TO DIRECT ANY QUESTIONS THAT THEY HAVE ABOUT THE FORM 990 TO THE FINANCE OFFICE PRIOR TO ITS FILING. 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 CONDUCTS 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 EXECUTIVE COMMITTEE DETERMINES THE PRESIDENT'S COMPENSATION AND RECOMMENDS IT TO THE BOARD OF TRUSTEES, WHICH APPROVES IT. THIS PROCESS WAS LAST COMPLETED IN MARCH 2025. 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 SEPTEMBER 2024. 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 230,294. 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 37621 1786980 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 125000 CASH HELD FOR COLLEGE