2021-04-15T08:34:20-05:00 2020-05-31 GRANT THORNTON LLP 75 State Street Boston MA 02109 990 2019-06-01 042199867 Curry College % DAVID ROSATI VP FINANCE & C CURR 6173332302 1071 BLUE HILL AVENUE MILTON MA 02186 DAVID ROSATI cfo 6173332302 2021-04-15 true ERIN COUTURE P01390592 6177237900 2019 2022-09-23 18:48:47Z Kenneth K Quigley Jr 1071 BLUE HILL AVENUE MILTON MA 02186 138804969 false X WWW.CURRY.EDU X 1879 MA TO EDUCATE AND GRADUATE STUDENTS PREPARED TO ENGAGE IN SUCCESSFUL CAREERS AND ACTIVE CITIZENSHIP WITH A GLOBAL PERSPECTIVE. 18 17 1636 68 0 0 731470 2879900 107289919 103686831 2440212 2903176 2208647 1726690 112670248 111196597 39355319 40973956 0 0 49410247 48469715 0 0 1035031 30506874 29101056 119272440 118544727 -6602192 -7348130 230792405 221721488 91814830 87984234 138977575 133737254 X CURRY COLLEGE IS AN INCLUSIVE COMMUNITY OF DIVERSE LEARNERS AND EDUCATORS, COMMITTED TO CONTINUING OUR LEGACY OF DEVELOPING EFFECTIVE COMMUNICATORS WITH REFLECTIVE AND CRITICAL THINKING SKILLS. false false 72706000 40809550 86945385 INSTRUCTION - FOUNDED IN 1879, CURRY COLLEGE IS A 140 YEAR OLD PRIVATE, INDEPENDENT INSTITUTUTION GRANTING UNDERGRADUATE AND GRADUATE DEGREES TO A COMBINED ENROLLMENT OF APPROXIMATELY 2,500 FULL AND PART TIME STUDENTS. THE COLLEGE OFFERS 28 UNDERGRADUATE DEGREES AND SIX MASTERS DEGREES. THE COLLEGE DRAWS ITS STUDENTS FROM 33 STATES AND 24 COUNTRIES. THE COMBINED FACULTY AND STAFF AT CURRY TOTAL APPROXIMATELY 772. 19698287 0 0 STUDENT SERVICES - CURRY COLLEGE OFFERS A WIDE VARIETY OF EXTRA AND CO-CURRICULAR ACTIVITIES. THESE INCLUDE 14 DIVISION III NCAA ATHLETIC TEAMS, INTRAMURAL SPORTS AND APPROXIMATELY 35 STUDENT CLUBS AND GROUPS. 10596819 0 16741446 AUXILIARY ENTERPRISES - CURRY COLLEGE PROVIDES HOUSING AND MEAL SERVICES TO STUDENTS. MORE THAN 1,348 STUDENTS RESIDE ON CAMPUS IN 18 DIFFERENT RESIDENCE HALLS. 6468601 164406 0 ACADEMIC SUPPORT 6468601 164406 0 109469707 true true false false false false false false false true true false false false true true true false true false true false true false true false false true true true true false false false false false false false false false false false false false false false false false false false true 3159 0 true 1636 true false false false false false true true false false false false false false X 18 17 false false false false false false false true true false false true true true true true true true true false MA X X DAVID ROSATI VP FINANCE C 6173332302 1071 BLUE HILL AVE MILTON MA 02186 KENNETH K QUIGLEY JR PRESIDENT 40.0 0.0 X X 471870 0 63462 David M Rosati VP OF FINANCE & CFO 40.0 0.0 X 334400 0 36822 DAVID SZCZERBACKI VP OF ACADEMIC AFFAIRS/PROVOST 40.0 0.0 X 254961 0 26117 Steven P Gunning PROFESSOR 40.0 0.0 X 216618 0 31582 Debra A Petrizzo Wilkins PROFESSOR 40.0 0.0 X 220531 0 25386 SUSAN W PENNINI VP OF INSTITUTIONAL PLANNING 40.0 0.0 X 198316 0 32638 Anthony J Fabrizio Jr PROFESSOR 40.0 0.0 X 181298 0 29369 MARYELLEN KILEY VP OF STUDENT AFFAIRS 40.0 0.0 X 179447 0 30624 W PATRICK HUGHES CHAIRPERSON 1.0 0.0 X X 0 0 0 KATHRYN M SARDELLA VICE CHAIR 1.0 0.0 X X 0 0 0 robert e balletto trustee/treas. (as of 10/2019) 1.0 0.0 X X 0 0 0 dr james m sullivan treasurer (thru 10/2019) 1.0 0.0 X X 0 0 0 dr john j santilli clerk 1.0 0.0 X X 0 0 0 HON ANTHONY M CAMPO esq TRUSTEE 1.0 0.0 X 0 0 0 DR RUTH ELLEN FITCH TRUSTEE 1.0 0.0 X 0 0 0 DAVID K HEMENWAY TRUSTEE 1.0 0.0 X 0 0 0 VINCENT J LOMBARDO TRUSTEE 1.0 0.0 X 0 0 0 JOHN T MAHONEY III ESQ TRUSTEE 1.0 0.0 X 0 0 0 DR JOYCE A MURPHY TRUSTEE 1.0 0.0 X 0 0 0 ROBERT M PLATT TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH P PLUNKETT iii TRUSTEE 1.0 0.0 X 0 0 0 christine a pulgini esq trustee 1.0 0.0 X 0 0 0 MITCHELL I QUAIN TRUSTEE 1.0 0.0 X 0 0 0 THOMAS J QUINLAN III TRUSTEE 1.0 0.0 X 0 0 0 kenneth wagner TRUSTEE 1.0 0.0 X 0 0 0 andrew b wrublin TRUSTEE 1.0 0.0 X 0 0 0 2057441 0 276000 90 false true false Windover Construction 66 Cherry Hill Drive BEVERLY MA 01915 Construction 4289176 Sodexo Inc and Affiliates 9801 Washington Boulevard GAITHERSBURG MD 20878 FOOD SERVICE 3936596 McGarr Service Corporation 233 Needham Street NEWTON MA 02464 JANITORIAL SERVICE 1576506 EAB Global Inc 1920 East Parham Road ROCHMOND VA 23228 enrollment MGMT. 504387 5 Horizons Digital LLC 1017 Turnpike Street suite 33 CANTON MA 02021 Marketing PRINT 436060 23 5550 1934414 939936 10135 2879900 TUITION AND FEES 900099 86945385 86945385 0 0 RESIDENCE HALLS 721000 9696739 9696739 0 0 MEAL PLANS 722320 6900751 6900751 0 0 BOOKSTORE 451211 143956 143956 0 0 103686831 1864131 1864131 56628 56628 0 0 0 0 28568776 27586359 982417 982417 982417 38880 5550 22013 16867 16867 0 0 0 0 0 0 DAYCARE 624410 600944 0 0 600944 SPORTS CAMP REVENUE 900099 398080 0 0 398080 FACILITIES REVENUE 900099 476731 0 0 476731 234068 0 0 234068 1709823 111196597 103686831 0 4629866 164406 164406 40774200 40774200 35350 35350 0 1065689 258129 807560 0 36675931 33657217 2559122 459592 2334695 2077388 228498 28809 5541162 4930470 542315 68377 2852238 2537892 279150 35196 0 181502 181502 115598 115598 0 0 389319 389319 2041883 1472118 468679 101086 1060359 1000480 27094 32785 2815153 2612535 174753 27865 1163598 1056394 104907 2297 3540 3540 4575329 4062959 459010 53360 556319 490702 55486 10131 0 1226647 1089003 86230 51414 2246227 2098348 93785 54094 0 7120801 6654787 374536 91478 580553 8676 571877 DINING 3187523 3187523 0 0 BAD DEBT EXPENSE 33020 0 33020 0 TEMP. EMPLOYMENT AGENCIES 280963 182583 84620 13760 MEMBERSHIPS 220010 220010 1302712 894997 402928 4787 118544727 109469707 8039989 1035031 1730 1730 17948485 11771513 1168775 954815 2034331 3808483 0 0 0 0 145097 120231 0 0 615695 791390 208513958 99318629 110280554 109195329 98597738 95077997 0 0 0 0 0 0 0 0 230792405 221721488 8741907 8181476 0 0 3670347 3592136 79239695 76067727 0 0 0 0 0 0 0 0 162881 142895 91814830 87984234 X 134548089 127101369 4429486 6635885 138977575 133737254 230792405 221721488 -7348130 2107809 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 93874024 550684 4362864 87463 8345826 90354283 100165348 349905 -1438322 120486 4714000 368421 93874024 103174746 641359 8916876 156466 12411167 100165348 95876423 584263 12189465 118325 5357080 103174746 94824961 2176608 -799812 86248 239086 95876423 0.94800 0.01860 0.03340 false false 2672481 2672481 158702209 60873109 97829100 825176 361357 463819 34796200 31212111 3584089 11517892 6872052 4645840 109195329 0 GOVERNMENT ADVANCES - STUDENT LOANS 142895 142895 X 76887537 2107809 4782000 6889809 69997728 389319 40809550 41198869 111196597 82127858 4782000 4782000 77345858 389319 40809550 41198869 118544727 SCHEDULE D, PART V, LINE 1e, column b line 1e, other expenditures for facilities and programs in the prior year column has been updated to include the amount for Quasi-endowment spending draw appropriation of endowment assets for expenditure and other releases. the ending balance of the endowment fund for the prior year and current year tie directly to the audited financial statements. SCHEDULE D, PART V, LINE 4 THE COLLEGE INTENDS TO USE ALL OF ITS ENDOWMENT FUNDS IN SUPPORT OF ITS EXEMPT PURPOSE. EXTERNALLY RESTRICTED FUNDS WILL BE USED IN A MANNER CONSISTENT WITH DONOR RESTRICTIONS, INCLUDING SCHOLARSHIPS, FACILITIES AND VARIOUS STUDENT SERVICES. THE SPECIFIC USE OF UNRESTRICTED FUNDS WILL BE AS APPROVED BY THE COLLEGE'S GOVERNING BOARD ON NEEDS IDENTIFIED AT THE TIME. SCHEDULE D, PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D AND PART XII, LINE 2D FOR PURPOSES OF 990 REPORTING, INCOME APPROPRIATED UNDER SPENDING POLICY OF $4,782,000 IS NOT INCLUDED ON THE STATEMENT OF REVENUES NOR THE STATEMENT OF FUNCTIONAL EXPENSES. SCHEDULE D, PART XI, LINE 4B AND PART XII, LINE 4B TOTAL REVENUE PER THE AUDITED FINANCIAL STATEMENTS IS PRESENTED NET OF INSTITUTIONAL SCHOLARSHIPS. FOR PURPOSES OF 990 REPORTING, TOTAL REVENUES AND EXPENSES ARE REPORTED GROSS. THEREFORE, A DIFFERENCE IS REFLECTED IN THE RECONCILIATION DUE TO INSTITUTIONAL SCHOLARSHIPS OF $40,809,550. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 CURRY COLLEGE IS AN INDEPENDENT NONSECTARIAN INSTITUTION THAT ADMITS STUDENTS WHO HAVE THE NECESSARY PREPARATION AND ACADEMIC BACKGROUND TO MEET THE REQUIREMENTS OF THE COLLEGE. NO STUDENT IS DENIED ADMISSION ON THE GROUNDS OF RACE, RELIGION, COLOR, SEX, AGE, ETHNIC OR NATIONAL ORIGIN OR ANCESTRY, PHYSICAL OR MENTAL DISABILITY, PREGNANCY, SEXUAL ORIENTATION, GENDER IDENTITY OR EXPRESSION, GENETIC INFORMATION, VETERAN OR MILITARY STATUS, MEMBERSHIP IN THE UNIFORMED SERVICES, OR ANY OTHER PROTECTED STATUS AND PROVIDED THAT HE OR SHE HAS THE NECESSARY PREPARATION AND ACADEMIC BACKGROUND. THIS INFORMATION IS PUBLISHED IN VARIOUS LITERATURE PROMOTING THE COLLEGE AND THE ANNUAL CURRY COLLEGE COURSE CATALOG. THE COLLEGE'S NONDISCRIMINATION POLICY CAN BE FOUND ON ITS WEBSITE AT WWW.CURRY.EDU. SCHEDULE E, PART I, LINE 6A CERTAIN STUDENTS OF THE COLLEGE RECEIVE FINANCIAL AID FROM THE STATE AND FEDERAL GOVERNMENTS IN THE FORM OF GRANTS AND LOANS UNDER THE FEDERAL PELL GRANT, WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM, FEDERAL WORK-STUDY, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT, FEDERAL PERKINS LOAN PROGRAM, AND TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION (TEACH) GRANT. true Europe (Including Iceland and Greenland) Program Services Study Abroad 49050 Europe (Including Iceland and Greenland) Grantmaking Scholarships 35350 84400 84400 CURRY SCHOLARSHIPS Europe (Including Iceland and Greenland) 3 35350 PART V false false false false false false SCHEDULE F, PART I, LINE 2 THE COLLEGE MAINTAINS A COMPUTERIZED SYSTEM WITH INTEGRATED CONTROLS TO ENSURE THAT SCHOLARSHIPS AWARDS ARE MADE IN ACCORDANCE WITH ESTABLISHED CRITERIA AS APPROVED BY SENIOR MANAGEMENT AND FEDERAL AND STATE AUTHORITIES, AS APPROPRIATE. A SERIES OF REPORTS HAVE BEEN DEVELOPED AND ARE USED BY MANAGEMENT TO IDENTIFY AND ADDRESS ANY EXCEPTIONS. ANNUALLY, THE COLLEGE'S FINANCIAL AID COMPLIANCE WITH FEDERAL GUIDELINES IS AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. THE COLLEGE ISSUES SCHOLARSHIPS TO STUDENTS WHO ARE REQUIRED TO MATRICULATE AT THE COLLEGE. THE STUDENT DOES NOT HAVE ANY DISCRETION ON HOW FUNDS ARE USED; ALL FUNDS ARE USED TO DEFRAY THE COSTS OF PARTICIPATING IN THE PROGRAM, THEREFORE, THE COLLEGE IS NOT REQUIRED TO FURTHER MONITOR THE USE OF THE FUNDS. SCHEDULE F, PART III, COLUMN (E) SCHOLARSHIP FUNDS ARE APPLIED DIRECTLY AGAINST STUDENTS' ACCOUNT BALANCES AND PAID DIRECTLY TO PARTICIPATING STUDY ABROAD PROGRAMS. NO CASH IS PROVIDED DIRECTLY TO THE STUDENTS. Football Golf 18870 5550 13320 8875 800 Hockey Golf 25560 25560 10888 1450 0 44430 5550 38880 19763 2250 22013 16867 true Town of Milton 525 Canton Ave Milton MA 02186 046001228 Gov't 110000 0 Milton Pilot Milton Library Foundation PO Box 314 Milton MA 02186 043614024 501(c)(3) 15000 0 Sponsorship Rodman Ride for Kids 10 Lincoln Road Foxboro MA 02035 465437759 501(c)(3) 10000 0 Sponsorship New England Council Inc 98 N Washington St Boston MA 02114 041661090 501(c)(6) 7500 0 Sponsorship 3 1 Curry College Institutional Scholarship 2236 40092018 0 Stipends 64 467888 0 Tuition Discounts 83 214294 0 Schedule I, Part I, Line 2 PROCESS FOR MONITORING GRANTS TO INDIVIDUALS THE COLLEGE MAINTAINS A COMPUTERIZED SYSTEM WITH INTEGRATED CONTROLS TO ENSURE THAT SCHOLARSHIPS AWARDS ARE MADE IN ACCORDANCE WITH ESTABLISHED CRITERIA AS APPROVED BY SENIOR MANAGEMENT AND FEDERAL AND STATE AUTHORITIES, AS APPROPRIATE. A SERIES OF REPORTS HAVE BEEN DEVELOPED AND ARE USED BY MANAGEMENT TO IDENTIFY AND ADDRESS ANY EXCEPTIONS. ANNUALLY, THE COLLEGES FINANCIAL AID COMPLIANCE WITH FEDERAL GUIDELINES IS AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. THE COLLEGE ISSUES SCHOLARSHIPS TO STUDENTS WHO ARE REQUIRED TO MATRICULATE AT THE COLLEGE. THE STUDENT DOES NOT HAVE ANY DISCRETION ON HOW FUNDS ARE USED; ALL FUNDS ARE USED TO DEFRAY THE COSTS OF PARTICIPATING IN THIS PROGRAM, THEREFORE, THE COLLEGE IS NOT REQUIRED TO FURTHER MONITOR THE USE OF THE FUNDS. PROCESS FOR MONITORING GRANTS TO ORGANIZATIONS GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE UNITED STATES ARE REVIEWED AND APPROVED BY THE COLLEGE'S PRESIDENT AND CHIEF FINANCIAL OFFICER. IN EACH CASE, THE COLLEGE IS AWARE OF THE CHARITABLE USE OF THE FUNDS, WHICH IS TYPICALLY FOR THE GENERAL PURSUIT OF THE RECEIVING ORGANIZATION'S EXEMPT PURPOSES AND NOT EARMARKED FOR A SPECIFIC USE. THE COLLEGE BELIEVES IN EACH INSTANCE THAT THESE FORMS OF ASSISTANCE ARE IN THE COLLEGE'S BEST INTEREST IN PROMOTING ITS IMAGE AND THE PURSUIT OF ITS EXEMPT PURPOSE. X X X X false true X X X X X false false false false false false false false false KENNETH K QUIGLEY JR PRESIDENT 457899 0 0 0 13971 0 19380 0 44082 0 535332 0 0 0 SUSAN W PENNINI VP OF INSTITUTIONAL PLANNING 197128 0 0 0 1188 0 13836 0 18802 0 230954 0 0 0 MARYELLEN KILEY VP OF STUDENT AFFAIRS 162703 0 0 0 16744 0 11822 0 18802 0 210071 0 0 0 DAVID SZCZERBACKI VP OF ACADEMIC AFFAIRS/PROVOST 252675 0 0 0 2286 0 17111 0 9006 0 281078 0 0 0 David M Rosati VP OF FINANCE & CFO 320649 0 0 0 13751 0 18020 0 18802 0 371222 0 0 0 Debra A Petrizzo Wilkins PROFESSOR 216117 0 0 0 4414 0 15809 0 9577 0 245917 0 0 0 Steven P Gunning PROFESSOR 204762 0 0 0 11856 0 12839 0 18743 0 248200 0 0 0 Anthony J Fabrizio Jr PROFESSOR 180524 0 0 0 774 0 10628 0 18741 0 210667 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE/PERSONAL SERVICES The President is required to live on campus as a condition of employment for the convenience of the College. The value of the residence is included on Schedule J, Part II, Column (D) as a nontaxable benefit. A portion of the housekeeping and insurance associated the personal use of the residence is treated as taxable and is included on Schedule J, Part II, Column (b)(iii). TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE COLLEGE PROVIDES TAX INDEMNIFICATION AND GROSS-UP PAYMENTS RELATED TO THE PERSONAL USE OF COLLEGE PROVIDED VEHICLES FOR THE VP OF INSTITUTIONAL ADVANCEMENT, DEAN OF STUDENTS, VP OF FINANCE & CFO, AND THE DEAN OF ADMISSIONS. THIS BENEFIT IS ALSO PROVIDED TO ADMISSIONS COUNSELORS. THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION FOR THESE LISTED INDIVIDUALS AND IS REPORTED ON PART II COLUMN (B)(III). SOCIAL CLUB DUES THE COLLEGE PROVIDES ITS VP FOR INSTITUTIONAL ADVANCEMENT WITH MEMBERSHIP TO A SOCIAL CLUB WHICH IS USED SOLELY FOR BUSINESS PURPOSES FOR FUNDRAISING ACTIVITY. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION FOR THIS INDIVIDUAL. SCHEDULE J, PART I, LINE 1B THE COLLEGE REIMBURSES ALL EMPLOYEES, INCLUDING ITS OFFICERS, KEY EMPLOYEES, AND SENIOR LEVEL STAFF FOR EXPENSES INCURRED WHILE CONDUCTING BUSINESS OF THE COLLEGE. REIMBURSEMENTS FOR OFFICERS, KEY EMPLOYEES, AND SENIOR LEVEL STAFF ARE REVIEWED BY THE CFO AND/OR PRESIDENT, AS APPROPRIATE. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2013-12-20 42000000 SEE DESCRIPTION IN PART VI false false false B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2015-01-30 15350000 SEE DESCRIPTION IN PART VI false false false C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2016-03-21 27700418 SEE DESCRIPTION IN PART VI false false false D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2016-06-14 9799542 SEE DESCRIPTION IN PART VI false false false A 11210000 0 42150123 0 0 0 429290 0 0 18091109 23629724 0 2016 true false true true B 3507909 0 15350000 0 0 0 140960 0 0 0 15209040 0 2008 true false true true C 2496135 0 27700418 0 0 0 165473 0 0 0 27534945 0 2008 true false true true D 926699 0 10025612 0 0 0 67253 0 0 9985359 0 0 2019 false false true true A false true true true false 0.02162 0.02162 false false false true B false true true true false 0.02650 0.02650 false false false true C false true false false 0 false false false true D false true false false 0 false false false true A false false false true true false 0 0 false true B false true true false true false 0 0 false true C false true false false true false 0 0 false true D false true false false true false 0 0 false true A true B true C true D true SCHEDULE K, PART I, LINE A, COLUMN F BONDS WERE ISSUED TO REFUND THE COLLEGE'S OUTSTANDING 1999, 2000 AND 2003 SERIES DEBT. IN ADDITION, A PORTION OF BOND PROCEEDS WERE USED TO CONSTRUCT A RESIDENCE HALL, RENOVATE AN EXISTING PROPERTY, AND OTHER CAPITAL IMPROVEMENTS. SCHEDULE K, PART I, LINE B, COLUMN F BONDS WERE ISSUED TO REFUND THE COLLEGE'S OUTSTANDING 2005 SERIES DEBT. SCHEDULE K, PART I, LINE C, COLUMN F BONDS WERE ISSUED TO REFUND THE COLLEGE'S OUTSTANDING 2006 SERIES DEBT. ADDITIONALLY, BONDS PROCEEDS WERE USED TO DEMOLISH AN EXISTING STUDENT CENTER AND CONSTRUCT A NEW STUDENT CENTER, CONSTRUCTION OF A NEW ACADEMIC BUILDING, AND EXPANSION AND RENOVATION OF AN EXISTING ADMINISTRATIVE OFFICE BUILDING. SCHEDULE K, PART I, LINE D, COLUMN F BONDS WERE ISSUED FOR THE PURPOSES OF CONSTRUCTING A NEW ACADEMIC BUILDING AND RENOVATION OF AN EXISTING ACADEMIC BUILDING. SCHEDULE K, PART II, LINE 3, COLUMNS A & D Total proceeds are higher for Bond A and D than the amount listed in Part I due to interest earned on proceeds. SCHEDULE K, PART III, LINE 4, COLUMNS A, B, C THE COLLEGE HAS ESTABLISHED PROCEDURES TO MONITOR PRIVATE BUSINESS USE ARRANGEMENTS PERTAINING TO ALL FACILITIES IT HAS FINANCED OR REFINANCED WITH TAX-EXEMPT BONDS, AND THE COLLEGE MONITORS ALL SUCH USES ON AN ANNUAL OR MORE FREQUENT BASIS. THE MONITORING IS INTENDED TO ENSURE THAT OVER THE TERM TO MATURITY OF EACH SUCH BOND ISSUE, THE COLLEGE WILL NOT EXCEED THE AGGREGATE PRIVATE BUSINESS USE LIMITATION APPLICABLE TO ANY ISSUE. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE COLLEGE PERFORMED A REBATE COMPUTATION ON THE 2013 SERIES TAX-EXEMPT BOND. THE MOST RECENT COMPUTATIONS WERE PERFORMED AS OF 12/20/16. Covid-19 Impact THE OUTBREAK OF COVID-19 HAS CAUSED DOMESTIC AND GLOBAL DISRUPTION IN OPERATIONS OF HIGHER EDUCATION INSTITUTIONS. CONSEQUENTLY, THE COLLEGE CLOSED ITS CAMPUS BEGINNING IN MID-MARCH 2020 AND TAUGHT THE REMAINDER OF THE SPRING 2020 SEMESTER ON-LINE. AS A RESULT, THE COLLEGE REFUNDED APPROXIMATELY $5,500,000 OF ROOM AND BOARD TO STUDENTS DURING FISCAL YEAR 2020. DURING FISCAL YEAR 2020, THE COLLEGE RECEIVED FUNDING FROM THE DEPARTMENT OF EDUCATION ("DOED") UNDER THE CARES ACT. THE FUNDS WERE ADMINISTERED TO HIGHER EDUCATION INSTITUTIONS BASED ON A FORMULA DEVISED BY THE DOED. THE FUNDS WERE ADMINISTERED AS THE HIGHER EDUCATION EMERGENCY RELIEF FUND ("HEERF") AND SPLIT INTO TWO EQUAL PORTIONS; ONE PORTION FOR THE INSTITUTION TO HELP DEFRAY COSTS ASSOCIATED WITH MOVING TO A REMOTE LEARNING PLATFORM, THE OTHER PORTION IS TO BE DISBURSED TO STUDENTS WHO INCURRED EXPENSES AS A RESULT OF MOVING TO REMOTE LEARNING. CURRY COLLEGE WAS AWAREDED $1,934,414, HALF OF WHICH WAS PAID OUT DIRECTLY TO STUDENTS, AND HALF THAT WAS IMMEDIATELY UTILIZED TO OFFSET LOST ROOM AND BOARD REVENUE. THE HEERF FUNDS WERE DRAWN DOWN FROM THE DOED AFTER YEAR END AND ARE INCLUDED IN OTHER RECEIVABLES IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. THE FULL IMPACT OF COVID-19 AND THE SCOPE OF ANY ADVERSE IMPACT ON THE COLLEGE'S FINANCES AND OPERATIONS CANNOT BE FULLY DETERMINED AT THIS TIME. 990, PART III, LINE 4D ACADEMIC SUPPORT - CURRY COLLEGE ACADEMICALLY SUPPORTS STUDENTS WITH OUR ACADEMIC ENRICHMENT CENTER AND CAMPUS LIBRARY. Form 990, Part V, Line 1A The number from 2019 Form 1096 Box 3 includes x,xxx Forms 1098-T. FORM 990, PART VI, LINE 11B THE FORM 990 WAS PREPARED BY THE COLLEGE'S INDEPENDENT TAX FIRM WITH INFORMATION PROVIDED BY MANAGEMENT AND REVIEWED BY THE CHIEF FINANCIAL OFFICER, THE DIRECTOR OF FINANCE, AND THE CONTROLLER. A COMPLETE COPY OF THE 990 WAS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO THE FORM 990 BEING SUBMITTED TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, LINE 12C THE COLLEGE HAS TWO CONFLICT OF INTEREST POLICIES, ONE THAT COVERS ALL BOARD MEMBERS AND A SECOND THAT COVERS ALL EMPLOYEES. BOTH POLICIES ARE UNDER THE OVERSIGHT OF THE BOARD OF TRUSTEES. THE COLLEGE DISTRIBUTES AN ANNUAL QUESTIONNAIRE TO BE COMPLETED BY OFFICERS AND THE BOARD OF TRUSTEES. THE CFO AND/OR PRESIDENT REVIEW POTENTIAL CONFLICTS OF INTEREST BY EMPLOYEES AND ALL NON-INTERESTED TRUSTEES REVIEW POTENTIAL CONFLICTS OF INTEREST BY TRUSTEES. THE PERSON WITH THE POTENTIAL CONFLICT WOULD PROVIDE INFORMATION TO THE BOARD OR CFO/PRESIDENT AS APPLICABLE. IN THE CASE OF TRUSTEES WITH A POTENTIAL CONFLICT OF INTEREST, THEY WOULD LEAVE THE BOARD MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT WHICH RESULTED IN THE CONFLICT. FORM 990, PART VI, LINES 15A & 15B Curry College maintains a compensation policy which covers all employees. When determining initial salaries, the following are considered: level of essential functions and responsibilities, required education, skills and relevant experience, both internal and external equity and budgeted amount. In reviewing salaries of existing employees, additional considerations include a substantial and permanent change in job duties, the change involves increase levels of responsibilities in terms of decision-making and problem solving, job complexity and/or additional knowledge and skills required. Changes to a position can occur as the result of organizational changes, both internal and external equity and availability of budgeted funds. The Office of Human Resources regularly reviews the external market to ensure the College is compensating positions competitively. Market data comes from a variety of generally accepted benchmarking sources. In addition, research is conducted on hiring ranges for appropriate matches at local and other higher education institutions. Different aspects of data are collected depending on the position being reviewed in order to ensure an appropriate compensation comparison. The compensation of the President is reviewed and approved by the Board of Trustees and there is contemporaneous documentation of the deliberation and decision. FORM 990, PART VI, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST.