2020-05-14T08:41:11-05:00 2019-06-30 GRANT THORNTON LLP 75 State Street Boston MA 02109 990 2018-07-01 041286950 EMERSON COLLEGE % JONATHAN PEARSALL EMER 6178248500 120 BOYLSTON STREET BOSTON MA 021164624 PAUL DWORKIS VP Admin & Finance 6178248426 2020-05-14 true Erin Couture P01390592 6177237900 69.119.147.121 04586620201355000001 2020-05-14 P A87539D75D44546F9E81755E19BD8DC508F41D5E A87539D75D44546F9E81755E19BD8DC508F41D5E 2018 2021-01-29 14:40:06Z M Lee Pelton 120 BOYLSTON STREET BOSTON MA 021164624 300597674 false X www.emerson.edu X 1880 MA TO EDUCATE STUDENTS TO BECOME LEADERS IN COMMUNICATION AND THE ARTS AND TO ADVANCE SCHOLARSHIP AND CREATIVE WORK THAT BRINGS INNOVATION, DEPTH AND DIVERSITY TO THESE DISCIPLINES. 29 28 3242 1200 655855 -438587 10444894 9744382 221173204 234725445 7444593 9811066 7249329 9862302 246312020 264143195 44356265 47992150 0 0 99532726 104230049 0 0 6966600 98018757 104159434 241907748 256381633 4404272 7761562 1035327915 1050117981 603635912 608281635 431692003 441836346 X EMERSON COLLEGE IS THE ONLY FOUR-YEAR COLLEGE IN THE UNITED STATES DEVOTED EXCLUSIVELY TO COMMUNICATION AND PERFORMING ARTS. (Continued in Schedule O) false false 164057614 47992150 200172782 EMERSON COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE PROGRAMS CHALLENGING STUDENTS TO THINK AND COMMUNICATE WITH CLARITY, SUBSTANCE AND INSIGHT. THE CURRICULUM INTEGRATES COMMUNICATION WITH LIBERAL ARTS AND EMPHASIZES A GLOBAL OUTLOOK AND PRACTICAL EXPERIENCE TO HELP DEVELOP THE INHERENT CAPACITIES OF EACH STUDENT. THE COLLEGE EDUCATES APPROXIMATELY 4,065 UNDERGRADUATE AND 804 GRADUATE STUDENTS ANNUALLY - THIS YEAR FROM 50 U.S. STATES, WASHINGTON D.C., PUERTO RICO, THE VIRGIN ISLANDS, GUAM, THE NORTHERN MARIANA ISLANDS AND 75 COUNTRIES. THE COLLEGE HAS MORE THAN 500 FULL AND PART-TIME FACULTY. 55333593 0 40835903 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR THE STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THE SERVICES INCLUDE ROOM, BOARD AND THE BOOKSTORE. 219391207 true true false true false false false false false true true false false false true true true false true true true false true false true false false false true true true false false false false false false false false true false true false false false false false false false false true 5248 0 true 3242 true true true true NL false false false true true false false false false false false X 29 28 true false true false false false false true true false false true true true true true true true true false AL AK AR CA CO CT DE DC HI ID IN IA KS ME MA MN MO MT NE NV NH NM NC ND OH RI SC SD TN TX UT VT VA WV WI WY X X X JONATHAN PEARSALL 6178248426 120 BOYLSTON STREET BOSTON MA 021164621 Jeffrey D Greenhawt Chairman 2.0 0.0 X X 0 0 0 Vincent J Di Bona Vice Chairman 2.0 0.0 X X 0 0 0 Albert M Jaffe Vice Chairman 2.0 0.0 X X 0 0 0 Steven Samuels Vice Chairman 2.0 0.0 X X 0 0 0 Michael Macwade Treasurer 2.0 0.0 X X 0 0 0 Marillyn Zacharis Secretary 2.0 0.0 X X 0 0 0 Eric Alexander Board Member 2.0 0.0 X 0 0 0 VIVAN BEARD BOARD MEMBER (AS OF 10/2018) 2.0 0.0 X 0 0 0 Kevin Bright Board Member 2.0 0.0 X 0 0 0 Bobbi Brown Board Member 2.0 0.0 X 0 0 0 Ellen Calmas Board Member 2.0 0.0 X 0 0 0 Dan Cohen Board Member 2.0 0.0 X 0 0 0 Lorenzo Di Bonaventura BOARD MEMBER (AS OF 10/2018) 2.0 0.0 X 0 0 0 Robert Friend Board Member 2.0 0.0 X 0 0 0 Ira Goldstone Board Member 2.0 0.0 X 0 0 0 Gary Grossman Board Member 2.0 0.0 X 0 0 0 Doug Herzog Board Member 2.0 0.0 X 0 0 0 Leo Hindery Jr Board Member 2.0 0.0 X 0 0 0 Douglas Holloway Board Member 2.0 0.0 X 0 0 0 Robert Miller Board Member 2.0 0.0 X 0 0 0 Andrea Montoni Board Member 2.0 0.0 X 0 0 0 Michelle Perkins Board Member 2.0 0.0 X 0 0 0 Patrica Peyton Board Member 2.0 0.0 X 0 0 0 Marc Reinganum Board Member 2.0 0.0 X 0 0 0 Linda Schwartz Board Member 2.0 0.0 X 0 0 0 Raj Sharma Board Member 2.0 0.0 X 0 0 0 Susan Nam Spencer Board Member 2.0 0.0 X 0 0 0 Cathy Weiss BOARD MEMBER (AS OF 05/2019) 2.0 0.0 X 0 0 0 M Lee Pelton President/Trustee 40.0 0.0 X X 741127 0 151229 MichaelE Whelan Provost & VP for Academic Aff. 40.0 0.0 X 312896 0 34944 Christine Hughes VP & General Counsel and Clerk 40.0 0.0 X 234526 0 32959 Maureen Murphy thru 122018 VP for Admin & Finance 40.0 0.0 X 404857 0 55954 phil shapiro as of 022019 interim VP for Admin & Finance 40.0 0.0 X 0 0 0 Ruthanne Madsen VP for Enrollment Management 40.0 0.0 X 243538 0 24823 Arthur Mombourquette SR. Assoc. VP for Real Estate 40.0 0.0 X 385117 0 51233 Ronald Korvas VP for Inst. Advancement 40.0 0.0 X 411389 0 52455 William Gilligan VP for Information Technology 40.0 0.0 X 263256 0 33421 Allison Sampson VP & Exe. Dir., L.A. program 40.0 0.0 X 275633 0 37696 SYLVIA sPEARS VP FOR EQUITY & sOCIAL jUSTICE 40.0 0.0 X 240254 0 45317 3512593 0 520031 193 false true false SODEXO INC AFFILIATES 1455 Gordon Street LOS ANGELES CA 90028 FOOD SERVICEs 8447936 Bon Appetit Management Co 2400 Yorkmont Road CHARLOTTE NC 28217 food services 4326006 Elkus Manfredi Architects LTD 25 Drydock ave BOSTON MA 02210 architects 686387 ernst young llp 200 clarendon st BOSTON MA 021165021 accounting 328317 Design Communications LTD 85 Bodwell Street AVON MA 02322 projection mapping 238500 8 53250 2744984 6946148 359323 9744382 TUTION & FEES 611710 200172782 200172782 0 0 ROOM & BOARD 611710 34397939 34397939 0 0 BOOKSTORE COMMISSION 611710 99973 99973 0 0 AUXILIARY - OTHER 611710 54751 54751 0 0 234725445 9529550 9529550 0 2604000 2604000 1259964 844242 415722 0 415722 415722 36675138 -970000 35423622 1251516 -970000 281516 281516 90100 53250 186615 -96515 -96515 0 0 0 0 0 0 THEATER REVENUE 531390 2620573 2620573 SUMMER CONFERENCE 531390 981217 325362 655855 MISCELLANEOUS 611710 3337305 3337305 6939095 264143195 241008685 655855 12734273 0 46604680 46604680 1387470 1387470 0 2690382 1853657 310250 526475 0 79468991 65076891 10892066 3500034 5126779 4176494 699029 251256 11206303 8882974 1486763 836566 5737594 4674090 782313 281191 0 2076561 2076561 183759 183759 0 0 270422 270422 4907027 4202633 703404 990 1584375 1334639 223381 26355 4190446 3373897 564697 251852 2678246 2179008 364705 134533 0 9742004 7882442 1319302 540260 4489299 3735849 625278 128172 0 347518 280611 46967 19940 13737517 11767898 1969619 0 21690841 18580912 3109929 4831905 4139130 692775 OTHER FOOD SERVICES 9244234 7823200 1309387 111647 OTHER SERVICES 9543554 8809729 733825 0 RENOVATIONS/CONTRACTS MAINT 7949706 7309915 639791 0 MISCELLANEOUS 6692020 5315088 1019603 357329 256381633 219391207 30023826 6966600 10470 8722 66112120 69429403 5824350 7958786 994833 2252192 0 0 0 0 2415219 2053847 0 0 3897485 3847769 1006560670 243132939 650091831 763427731 172157041 181073890 133077082 19254951 0 0 0 0 747484 810690 1035327915 1050117981 31433745 48071372 0 0 15263436 16475216 555302020 542098336 0 0 0 0 0 0 0 0 1636711 1636711 603635912 608281635 X 392981127 398714605 9066917 12220908 29643959 30900833 431692003 441836346 1035327915 1050117981 7761562 2382781 X false true X true true true X 9321951 7592129 7698561 10444894 9744382 44801917 0 0 9321951 7592129 7698561 10444894 9744382 44801917 6060243 38741674 6627339 6312092 6617011 6951639 13393514 39901595 0 43286 197241 77195 79060 90100 486882 85190394 1083273356 0.45477 0.45978 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true false schedule c, part ii-B SCHEDULE C, PART II REPRESENTS THE PORTION OF ANNUAL DUES INVOLVED IN LOBBYING ACTIVITIES WHICH RELATES TO THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND ITS AFFILIATES ("NACUBO"). THE AMOUNT IS NEGLIGIBLE. THIS REPRESENTS THE ONLY LOBBYING ACTIVITIES OF THE COLLEGE. 171633889 3221142 10248986 4594629 180509388 161079646 2599143 12186354 4231254 171633889 144194527 4031000 16915119 4061000 161079646 149219391 2548023 -3660131 3912756 144194527 146174009 7028768 -175992 3807394 149219391 0.78660 0.15470 0.05870 false false 76843446 76843446 696177702 212820197 483357505 5298738 3129837 2168901 30140656 27182905 2957751 198100128 198100128 763427731 0 REFUNDABLE ADVANCES GOVT GRANT 1636711 1636711 X 219294261 2382781 1030857 3413638 215880623 270422 47992150 48262572 264143195 209149918 1030857 1030857 208119061 270422 47992150 48262572 256381633 ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 150 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING DONOR RESTRICTED ENDOWMENT FUNDS DEsiGNATED BY THE BOARD OF TRusTEES TO FUNCTION AS ENDOWMENTS. THE PURPOSE OF THE COLLEGE'S ENDOWMENT FUND IS TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A RELIABLE SOURCE OF FUNDS FOR CURRENT AND FUTURE USE THROUGH QUARTERLY DRAWDOWNS. THE ENDOWMENT IS USED TO FUND SCHOLARSHIPS AND GRANTS AS WELL AS TO PROVIDE SUPPORT FOR PROGRAM SERVICES. UNDER THE COLLEGE'S CURRENT LONG-TERM INVESTMENT SPENDING POLICY, WHICH IS WITHIN THE GUIDELINES SPECIFIED UNDER STATE LAW, THE COLLEGE GENERALLY SPENDS UP TO 3% OF THE AVERAGE MARKET VALUE OF THE QUALIFYING ENDOWMENT INVESTMENT POOL AT THE END OF THE PREVIOUS FIVE CALENDAR YEARS. THE BOARD OF TRUSTEES MAY AUTHORIZE HIGHER AMOUNTS FOR CERTAIN ENDOWMENTS AND CAN INCREASE THE SPENDING RATE UP TO 5%. ASC 740 INCOME TAX FOOTNOTE SCHEDULE D, PART X, LINE 2 THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. 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 RENTAL EXPENSES 844,242 FUNDRAISING EXPENSES 186,615 ------------ TOTAL 1,030,857 ------------ SCHEDULE D, PART XI, LINE 4b STUDeNT AID-EMERSON SCHOLARSHIPS 44,860,322 STUDENT AID GRADUATE TUITION REIMBURSEMENT 3,131,828 ------------- TOTAL 47,992,150 ------------- SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSES 844,242 FUNDRAISING EXPENSES 186,615 ------------ TOTAL 1,030,857 ------------ SCHEDULE D, PART XII, LINE 4b STUDeNT AID-EMERSON SCHOLARSHIPS 44,860,322 STUDENT AID GRADUATE TUITION REIMBURSEMENT 3,131,828 ------------- TOTAL 47,992,150 ------------- true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS AVAILABLE IN THE COLLEGE'S ADMISSION CATALOG AND THE COLLEGE'S WEBSITE. EMERSON COLLEGE ADMITS QUALIFIED STUDENTS REGARDLESS OF RACE, COLOR, RELIGIOUS BELIEFS, NATIONAL AND ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, GENDER IDENTIY, AGE, OR DISABILITY TO ALL OF THE RIGHTS, Privileges, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE COLLEGE. EMERSON COLLEGE DOES NOT UNLAWFULLY DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGIOUS BELIEFS, NATIONAL AND ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, AGE, DISABILITY, OR ANY OTHER CATEGORY PROTECTED BY LAW IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC PROGRAMS, OR OTHER COLLEGE-ADMINISTRATED PROGRAMS OR ACTIVITIES. FINANCIAL AID OR ASSISTANCE SCHEDULE E, PART I, LINE 6A THE COLLEGE PARTICIPATES IN A NUMBER OF FEDERAL FINANCIAL PROGRAMS FOR ITS STUDENTS WHO HAVE FILED A FAFSA AND ARE ELIGIBLE FOR FEDERAL FINANCIAL AID. true Europe (Including Iceland and Greenland) 1 16 Program Services Semester abroad class 2669045 Central America and the Caribbean Investments 15863824 Europe (Including Iceland and Greenland) Grantmaking 1387340 1 16 1 16 19920209 19920209 Emerson College Funded Scholarships Europe (Including Iceland and Greenland) 141 1376831 0 State Scholarships Europe (Including Iceland and Greenland) 9 10639 0 false false true false false true MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. SCHEDULE F, PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATIONal PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC YEAR. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. SCHEDULE F, PART I, LINE 3, COLUMN (F) GRANTMAKING EXPENDITURES FOR SCHOLARSHIPS ARE REPORTED IN COLUMN (F) AT THEIR BOOK VALUE. AMOUNTS SHOWN IN COLUMN (F) FOR INVESTMENTS ARE REPORTED AT THEIR FAIR MARKET VALUE. EXPENDITURES FOR THE SEMESTER ABROAD CLASSES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD OF ACCOUNTING. FOREIGN FILING REQUIREMENTS SCHEDULE F, PART IV THE COLLEGE HAS CERTAIN ALTERNATIVE INVESTMENTS THAT MAY HAVE TRANSFERS TO OR GENERATE OWNERSHIP ITNERESTS IN FOREIGN CORPORATIONS OR PARTNERSHIPS. AS SUCH, SCHEDULE F PART IV REFLECTS THESE TRANSFERS AND INTERESTS. THE COLLEGE HAS REVIEWED THESE INVESTMENTS FOR ANY TRANSFERS OR Interests THAT ARE REQUIRED TO BE FURTHER REPORTED ON FORMS 926, 5471, 8621, OR 8865. Golf Tournament 117375 50250 67125 5295 26973 5321 Alumni Reunion 25975 3000 22975 89376 1802 57848 0 143350 53250 90100 5295 26973 89376 1802 63169 186615 -96515 true Emerson College Funded Scholarships 2976 46192175 0 FMV State Scholarships 185 412505 0 FMV MONITOR THE USE OF GRANT FUNDS IN THE U.S. SCHEDULE I, PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO THE STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATIONal PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC YEAR. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT, OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. X X X X true true X X X X X X false false false false false false false true false M Lee Pelton President/Trustee 680757 60370 24750 126479 892356 MichaelE Whelan Provost & VP for Academic Aff. 311309 1587 24750 0 10194 0 347840 0 Christine Hughes VP & General Counsel and Clerk 231211 3315 21206 0 11753 267485 0 Maureen Murphy thru 122018 VP for Admin & Finance 205626 199231 24750 0 31204 0 460811 0 Ruthanne Madsen VP for Enrollment Management 232653 10885 21420 0 3403 0 268361 0 Arthur Mombourquette SR. Assoc. VP for Real Estate 288507 20000 76610 23578 0 27655 0 436350 0 Ronald Korvas VP for Inst. Advancement 312437 20000 78952 24750 0 27705 0 463844 0 William Gilligan VP for Information Technology 256163 7093 30975 0 2446 0 296677 0 Allison Sampson VP & Exe. Dir., L.A. program 265931 9702 24380 0 13316 0 313329 0 SYLVIA sPEARS VP FOR EQUITY & sOCIAL jUSTICE 236809 3445 21881 0 23436 0 285571 0 SCHEDULE J, PART I, LINE 1A FIRST-CLASS TRAVEL THE PRESIDENT MAY TRAVEL VIA FIRST CLASS IN ORDER TO CARRY OUT HIS/HER DUTIES AS REQUIRED BY THE COLLEGE. THE PRESIDENT HAS THE AUTHORITY TO APPROVE FIRST CLASS TRAVEL FOR VICE PRESIDENTS WHEN WARRANTED AND WITH PRIOR APPROVAL. SUCH ACCOMMODATIONS FOR THE PRESIDENT AND VICE PRESIDENTS ARE NOT INCLUDED IN TAXABLE WAGES AS THEY ARE PROVIDED FOR THE BENEFIT OF THE COLLEGE. ONE OFFICER USED SUCH ACCOMODATIONS FOR BUSINESS PURPOSES DURING THE calendar year 2018. SCHEDULE J, PART I, LINE 1A HOUSING AND PERSONAL SERVICES IN ACCORDANCE WITH COLLEGE POLICY AND INTERNAL REVENUE CODE SECTION 119, THE COLLEGE REQUIRES THE PRESIDENT TO LIVE IN A RESIDENCE OWNED BY THE COLLEGE AS A CONDITION OF EMPLOYMENT DURING HIS TENURE. THE PRESIDENTIAL RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE AND EXTENSIVELY USED FOR BUSINESS OF THE COLLEGE. HOUSEKEEPING IS PROVIDED TO MAINTAIN THE APPEARANCE OF THE RESIDENCE FOR COLLEGE FUNCTIONS. THE VALUE OF THE PERSONAL USE OF THE HOME IS INCLUDED IN NON-TAXABLE BENEFITS REPORTED ON SCHEDULE J PART II COLUMN (D). THE VALUE OF THE HOME WAS BASED ON AN INDEPENDENT MARKET APPRAISAL. Two highly compensated individuals received a taxable housing allowance which is included in Schedule J, Part II, Column (b)(iii). SCHEDULE J, PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE COLLEGE PROVIDED CERTAIN PAYMENTS TO EMPLOYEES REPORTED ON SCHEDULE J PART II THAT WERE GROSSED UP FOR TAX PURPOSES. THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J PART II COLUMN (B)(III). SCHEDULE J, PART I, LINE 4A SEVERANCE AGREEMENTS THE PRESIDENT'S EMPLOYMENT CONTRACT INCLUDES A SEVERANCE PROVISION THAT PROVIDES FOR THE LESSER OF TWO YEARS OF SALARY OR SALARY FOR THE REMAINDER OF HIS TERM. NO AMOUNTS WERE PAID UNDER THIS PROVISION DURING THE CALENDAR YEAR 2018. A MDFA-SERIES 2010 A 043431814 57583RY74 2010-06-24 124760655 dorms/classrooms/office/theater true false false B CMFA SERIES 2011 201563466 13048tmz3 2011-12-08 55463072 LOS ANGELES BUILDING true false false C MDFA Series 2015 043431814 57583u7f9 2015-05-14 143055842 Construction of Dormitory & renova true false false D MDFA Series 2016A 043431814 57584XD57 2016-12-06 204166939 Renovation of Dorm false false false A 23890000 101880000 124760655 0 0 0 941526 0 0 7187272 14751857 0 2012 true false true true B 0 52400000 55463072 0 4837952 0 621432 0 0 50003688 0 0 2014 false false true true C 3790000 0 143055842 0 7468597 0 892053 0 0 77471533 57223749 0 2017 false true true true D 0 0 204166939 0 15397662 0 1185722 0 0 168383752 0 19199803 2019 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false true false true false false 0 false 0 false true D false true false true false false 0 false 0 false true A true B true C true D true Schedule K, Part I, Column F The Series 2010A bonds were issued to refund the Colleges outstanding Series 1999A debt. The Series 2015 bonds were issued to refund the Colleges outstanding Series 2006 debt as well as finance the construction of the 2 Boylston Place dormitory. The Series 2017A bonds were issued to advance refund the Series 2010A debt, and the College fully defeased the remainder of the Series 2010A issuance using operating cash during fiscal 2018. The Series 2017B bonds were issued to advance refund Series 2011 debt. Schedule K, Part IV, Line 2c For the Series 2010A issuance, a rebate calculation was performed as of December 31, 2014. For the Series 2011 issuance, the rebate calculation was performed as of June 30, 2016. For the Series 2015, Series 2016A, Series 2017A, and Series 2017B issuances, the rebate calculation was performed on June 30, 2018. For the Series 2018 issuance, An interim arbitrage rebate calculation was performed for the period ending 6/30/19, and showed that no rebate was due. A MDFA Series 2017A 043431814 57584XU74 2017-09-14 112429423 ADVANCE REFUND OF DEBT false false false B CMFA Series 2017B 201563466 13048t6j7 2017-09-19 62717607 ADVANCE REFUND OF DEBT false false false C MDFA Series 2018 043431814 57584yFK0 2018-04-11 24367428 WORKING CAPITAL false false false A 0 0 112429423 0 0 112429423 846841 0 0 0 111582582 0 2017 false true true true B 0 0 62717607 0 0 62717607 523293 0 0 0 62194314 0 2017 false true true true C 0 0 24367428 0 0 0 367428 0 0 0 24000000 0 2018 false false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false true false true false false 0 false 0 false true B false true false true false false 0 false 0 false true C false true false true false false 0 false 0 false true A true B true C true Jordan C Wilson Pelton DAUGHTER OF BOARD MEMBER 47746 Emerson Employee false X 11 359323 FAIR MARKET VALUE false true false PART I, COLUMN (B) AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. VOLUNTEERS FORM 990, PART I, LINE 6 THE COLLEGE IDENTIFIED THE AREAS AND DEPARTMENTS THAT USE VOLUNTEERS DURING THE TAX YEAR. THESE DEPARTMENTS WERE ASKED TO ESTIMATE THE NUMBER OF VOLUNTEERS USED FOR THE VARIOUS PROGRAMS. THE TYPES OF SERVICES PROVIDED BY THESE VOLUNTEERS INCLUDE PHONE-A-THONS, ORIENTATION, CAMPUS TOUR GUIDES, AND INFORMATION SESSIONS. THE NUMBER DOES NOT INCLUDE EMPLOYEES. MISSION (CONTINUED) FORM 990, PART III, LINE 1 THE COLLEGE IS ORGANIZED INTO TWO SCHOOLS, EACH OF WHICH OFFERS BOTH UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS: THE SCHOOL OF THE ARTS AND THE SCHOOL OF COMMUNICATION. IN ADDITION TO ITS BOSTON, MASSACHUSETTS LOCATION, THE COLLEGE MAINTAINS CAMPUSES IN LOS ANGELES, CALIFORNIA AND KASTEEL WELL, THE NETHERLANDS. NUMBER REPORTED IN BOX 3 OF FORM 1096 FORM 990, PART V, LINE 1A THE NUMBER FROM 2018 FORM 1096 BOX 3 INCLUDES 4,627 FORMS 1098-T. EXECUTIVE COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A THE BYLAWS DELEGATES GENERAL SUPERVISION OF THE ADMINISTRATION AND PROPERTY OF THE COLLEGE TO AN EXECUTIVE COMMITTEE IN BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS OF THE BOARD, THE PRESIDENT, AND A TRUSTEE ELECTED BY THE CHAIR. IN ADDITION TO GENERAL SUPERVISION BETWEEN BOARD MEETINGS, THE EXECUTIVE COMMITTEE HAS AUTHORITY TO APPROVE THE APPOINTMENT OF VICE PRESIDENTS AND DEANS OF SCHOOLS PROPOSED BY THE PRESIDENT OF THE COLLEGE; EXERCISE GENERAL OVERSIGHT OVER HUMAN RESOURCES POLICIES; AND APPOINT ACTING TREASURER AND/OR ACTING SECRETARY UNTIL THE NEXT ANNUAL MEETING. BUSINESS RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 DURING THE FISCAL YEAR ENDED JUNE 30, 2019, TRUSTEES VINCENT J. DI BONA AND GARY GROSSMAN HAD A BUSINESS RELATIONSHIP WITH ONE ANOTHER. significant changes to bylaws FORM 990, PART VI, SECTION A, LINE 4 EFFECTIVE MAY 2018 EMERSON COLLEGE AMENDED ITS BYLAWS TO REFLECT THE BELOW CHANGES: - ESTABLISHED AN INVESTMENT COMMITTEE: THE PURPOSE OF THE INVESTMENT COMMITTEE IS TO MAINTAIN THE PRUDENT AND EFFECTIVE INVESTMENT OF THE ENDOWMENT, FORMULATE INVESTMENT POLICIES, AND OVERSEE MANAGEMENT OF THE ENDOWMENT. IT IS RESPONSIBLE FOR THE ENDOWMENT, PLANNED GIFT ANNUITIES AND LIFE INCOME FUNDS, AND OTHER INVESTMENT ASSETS OF THE COLLEGE'S ENDOWMENT. EFFECTIVE FEBRUARY 2019 EMERSON COLLEGE AMENDED ITS BYLAWS TO REFLECT THE BELOW CHANGES: - TERM LENGTH: OFFICERS OF THE BOARD TERM LENGTH CHANGED FROM TWO TO THREE YEARS. THE LIMIT OF BOARD MEMBER'S CONSECUTIVE TERMS INCREASED FROM FOUR TO FIVE BEFORE A ONE YEAR COOLING-OFF PERIOD. THERE ARE SPECIAL CIRCUMSTANCES WHERE A TRUSTEE MAY SERVE ONE OR MORE ADDITIONAL TERMS RESULTING FROM EXTRAORDINARY CONTRIBUTIONS OR ENSURING CONTINUITY OF BOARD LEADERSHIP. - MAXIMUM NUMBER OF TRUSTEES WAS UPDATED FROM 31 TO 34. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. A DRAFT FORM 990 IS GIVEN TO THE AUDIT COMMITTEE FOR THEIR REVIEW. DURING THIS REVIEW, QUESTIONS REGARDING THE DRAFT FORM 990 ARE ANSWERED BY MANAGEMENT. CHANGES ARE MADE IF APPROPRIATE. THE FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY BY WAY OF A SECURE, PASSWORD PROTECTED WEBSITE ON WHICH THE ENTIRE FORM 990 AND ALL REQUIRED SCHEDULES ARE AVAILABLE FOR REVIEW. ALL TRUSTEES ARE ASKED TO REVIEW THE FILING AND FORWARD ANY COMMENTS TO MANAGEMENT FOR CONSIDERATION AND DISCUSSION IF NECESSARY WITH THE INDEPENDENT TAX RETURN PREPARER. AT THE END OF THE REVIEW PERIOD, THE FINAL RETURN, AS IT WILL BE FILED WITH THE IRS, IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS OF THE BOARD OF TRUSTEES CONTAIN A WRITTEN CONFLICT OF INTEREST POLICY. OFFICERS AND MEMBERS OF THE BOARD ANNUALLY ACKNOWLEDGE RECEIPT OF, AND FAMILIARITY WITH, THE POLICY. WHEN AN INDIVIDUAL DISCLOSES A POSSIBLE CONFLICT OF INTEREST, OR WHEN A POSSIBLE CONFLICT IS OTHERWISE IDENTIFIED, IT IS REFERRED TO THE PRESIDENT OF THE COLLEGE AND THE CHAIR OF THE BOARD OF TRUSTEES. THE CHAIR REVIEWS THE POSSIBLE CONFLICT OF INTEREST AND, IF WARRANTED, SELECTS AN AD HOC COMMITTEE TO REVIEW THE POSSIBLE CONFLICT OF INTEREST. THE PRESIDENT AND THE VICE PRESIDENT AND GENERAL COUNSEL OF THE COLLEGE PREPARE A MEMORANDUM DESCRIBING THE POTENTIAL CONFLICT OF INTEREST THAT IS SENT TO THE MEMBERS OF THE AD HOC COMMITTEE. THE MEMBERS OF THE AD HOC COMMITTEE MEET AND DETERMINE WHETHER TO PERMIT THE POTENTIAL CONFLICT OF INTEREST. IF THE TRUSTEE HAS A CONFLICT, THEY MUST RECUSE THEMSELVES FROM ANY COMMITTEES TASKED WITH MAKING A DECISION ON THE TOPIC WHERE THEY HAVE A CONFLICT. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINES 15A AND 15B DURING FISCAL YEAR 2017, THE COLLEGE REVIEWED AND REVISED THE COMPENSATION PAID TO ALL ITS OFFICERS AND KEY EMPLOYEES. THE COLLEGE WAS ASSISTED THROUGHOUT THE PROCESS BY INDEPENDENT OUTSIDE COUNSEL. VICE PRESIDENT COMPENSATION RECOMMENDATIONS ARE MADE BY THE PRESIDENT AND REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. AFTER DISCUSSION, THE COMMITTEE APPROVES RECOMMENDED COMPENSATION TO BE SUBMITTED TO THE FULL BOARD OF TRUSTEES. THE PRESIDENT AND VICE PRESIDENT COMPENSATIONS ARE THEN CONSIDERED AT A MEETING OF THE FULL BOARD OF TRUSTEES. AFTER DISCUSSION, THE BOARD OF TRUSTEES APPROVE COMPENSATION TERMS FOR THE PRESIDENT AND EACH VICE PRESIDENT. AT THE MEETINGS OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF TRUSTEES, IT IS FIRST DETERMINED THAT NO MEMBER OF THE COMMITTEE OR BOARD HAS A CONFLICT OF INTEREST. THEN, THE COMMITTEE AND BOARD CONSIDER THE RESPONSIBILITIES OF EACH POSITION, THE COLLEGE'S NEEDS AND EXPECTATIONS WITH RESPECT TO EACH POSITION, THE JOB PERFORMANCE OF EACH VICE PRESIDENT AND THE PRESIDENT, THE FINANCIAL HEALTH OF THE COLLEGE, AND COMPREHENSIVE COMPARABLE DATA PROVIDED BY AN INDEPENDENT NATIONAL COMPENSATION CONSULTING FIRM. THE ABOVE PROCESS, INCLUDING IDENTIFICATION OF THE BOARD MEMBERS WHO WERE PRESENT AND APPROVED THE COMPENSATION, WAS DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES MEETING. THESE MINUTES WERE THEN APPROVED AT THE NEXT BOARD OF TRUSTEES MEETING. AS DESCRIBED, THE COMPENSATION PROCEDURES OF THE COLLEGE MEET THE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION. PUBLIC INSPECTION FORM 990, PART VI, SECTION C, LINE 19 EMERSON COLLEGE MAKES AVAILABLE FORM 990 ON ITS WEBSITE, AND FORM 990-T UPON REQUEST. DURING THE YEAR, THE COLLEGE RECEIVES REGULAR REQUESTS FOR THE TAX DOCUMENTS AND THESE REQUESTS ARE NORMALLY FULFILLED WITHIN A DAY. THE COLLEGE MAKES AVAILABLE ITS GOVERNING DOCUMENTS (BY-LAWS) ON THE COLLEGE'S WEBSITE. THE COLLEGE MAKES AVAILABLE ON ITS WEBSITE ITS CONFLICT OF INTEREST POLICY AND ITS FINANCIAL STATEMENTS.