2020-07-13T12:44:20-07:00 2019-06-30 990 2018-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 Noel Ward Controller 4103376132 2020-07-13 50.202.217.171 2018 2021-01-29 14:40:06Z Kent Devereaux 1021 Dulaney Valley Road Baltimore MD 21204 194507730 0 X www.goucher.edu X 1885 MD Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 38 37 1874 459 753090 0 15901532 9611723 84041501 85685427 10425399 3975756 1325915 1434764 111694347 100707670 36830031 39859894 0 0 41948328 43303305 0 0 3042185 30313942 32419084 109092301 115582283 2602046 -14874613 427212082 412296969 140480072 135882698 286732010 276414271 Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. The College's vision is to become the model for accessible transformational education that integrates curricular and co-curricular learning to deliver graduates who can solve complex problems together with people who are not like themselves. 0 0 91442121 38381915 77862513 The College provided an Undergraduate Arts and Sciences education to 1,525 students. Goucher's academic philosophy is focused on 3Rs: relationships, resilience, and reflection, and coursework reflects the core values of a liberal arts education: proficiency in English composition and in a foreign language, solid foundations in history, abstract reasoning, scientific discovery and experimentation, problem-solving, social structures, and environmental sustainability. A highlight of Goucher's unique liberal arts curriculum is the requirement that all undergraduates must study abroad at least once before graduation, making the College the first in the nation to make such a bold move in globalized education. Goucher strives to educate the whole student and promotes a broad education over narrow career training. This gives graduates a wide range of professional options and increased ability to take advantage of new opportunities in developing fields-and even the capability to change careers. Goucher students master a range of knowledge, including the communication, critical thinking, and quantitative reasoning skills that U.S. employers overwhelmingly say they want job candidates to have. 6696811 1477979 6953637 The College provided a graduate education to 742 students. The Welch Center for Graduate and Professional Studies offers a diverse range of academic programs, including: Master of Arts and Master of Fine Arts degrees in areas such as education, teaching, historic preservation, arts administration, cultural sustainability, digital arts, nonfiction, management, and environmental sustainability, plus a post-baccalaureate premedical program. These programs are led by industry leaders who help students strengthen their skills, add to their knowledge base, and create professional opportunities wherever their passions lead. 601504 0 869277 The College provided credit and non-credit continuing studies course work for 783 participants. Goucher's Educators' Institute provides teachers and administrators innovative training on several new techniques that address issues for a diverse range of learners. Goucher is home to the College Board's Advanced Placement (AP) Summer Institute, training teachers in AP courses from across the country and around the world. The Advanced Placement Summer Institute allows teachers to earn graduate credit while gaining College Board-certified preparation in most subject areas offered through AP programs. 0 0 0 98740436 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 3620 0 1874 1 1 1 1 BD 0 0 0 1 1 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK FL MA MD MI NJ NY OH OK OR WA X Noel Ward 4103376132 1021 Dulaney Valley Road Baltimore MD 21204 Kimara Ahnert-Class of 91 Trustee 3 0 X 0 0 0 Patricia K Batza-Class of 91 Trustee 3 0 X 0 0 0 David I Bavar Trustee 3 0 X 0 0 0 Robert Lee Bull Jr-Class of 93 Trustee 3 0 X 0 0 0 Michael Bulnes-Class of 18 Trustee 3 0 X 0 0 0 Kara Byrne Bundy-Class of 02 Trustee 3 0 X 0 0 0 Melinda J Burdette-Class of 72 Trustee 5 0 X 0 0 0 Geoffrey Clapp-Class of 95 Trustee 3.00 0 X 0 0 0 Henry Cubillan Class of 97 Trustee 3 0 X 0 0 0 Richard J Davis Trustee 5 0 X 0 0 0 Elizabeth Ellers-Class of 81 Trustee 3 0 X 0 0 0 Lynn Toby Fisher-Class of 71 Trustee, Treasurer 5 0 X X 0 0 0 Norma Lynn Fox-Class of 76 Trustee 3 0 X 0 0 0 Elaine K Freeman-Class of 58 Trustee 3 0 X 0 0 0 Deanna Galer-Class of 17 Trustee 3 0 X 0 0 0 Beth Himmelstein Goldsmith-Class 72 Trustee 3 0 X 0 0 0 Linda K Himmelberger-Class of 74 Trustee 3 0 X 0 0 0 Miriam Brown Hutchins-Class of 73 Trustee, Secretary 5 0 X X 0 0 0 Miriam E Katowitz-Class of 73 Trustee, Chair 20 0 X X 0 0 0 Ruth Shapiro Lenrow-Class of 74 Trustee, Vice Chair 15 0 X X 0 0 0 John Olszewski Jr-Class of 04 Trustee 3 0 X 0 0 0 Faye Polayes-Class of 73 Trustee 3 0 X 0 0 0 Robert J Proutt Trustee 3 0 X 0 0 0 William E Pugh II-Class of 94 Trustee 5 0 X 0 0 0 Dr Jocelyn Reader-Class of 02 Trustee 3 0 X 0 0 0 Jennifer Mitchell Reed-Class of 86 Trustee 3 0 X 0 0 0 Maxine Roberts-Class of 2016 Trustee 3 0 X 0 0 0 Ralph M Segall Trustee 5 0 X 0 0 0 Lisa Pagliaro Selz-Class of 73 Trustee 3 0 X 0 0 0 Kim Van Newkirk Shaffir-Class of 83 Trustee 3 0 X 0 0 0 Lisa Lyden Stromberg-Class of 83 Trustee 3 0 X 0 0 0 Stewart Thomsen Trustee 3 0 X 0 0 0 Theodore Venetoulis Trustee 3 0 X 0 0 0 Craig Watson Trustee 3 0.00 X 0 0 0 Toby Wertheim-Class of 68 Trustee 5 0 X 0 0 0 Jon Wexler-Class of 94 Trustee 3 0 X 0 0 0 Wendy S White-Class of 72 Trustee 5 0 X 0 0 0 Jose' Antonio Bowen President 40 0 X X 346399 0 67450 Trishana Bowden Vice President for Advancement 40 0 X 213692 0 92756 Bryan Coker Vice President and Dean of Students 40 0 X 148799 0 34496 William Leimbach VP for Information Technology and Planning 40 0 X 166073 0 21128 Lynne Lochte Vice President for Finance and Administration 40 0 X 202889 0 23572 Deborah Lupton Vice President for Human Resources 40 0 X 144657 0 18466 Martin Sweidel Senior Vice President for Strategic Initiatives 40 0 X 205862 0 33022 David Grossman Associate Professor 40 0 X 150106 0 7928 Terence McCann AVP of Facilities Management Services 40 0 X 131348 0 4357 Scott Sibley Acting Provost 40 0 X 168179 0 29830 Eric Singer Director of International Studies 40 0 X 149090 0 17286 Barbara Stob General Counsel 40 0 X 163282 0 18872 Leslie Lewis Provost 40 0 X 152926 0 20670 2343302 0 389833 20 1 1 0 Whiting-Turner Contracting Comp 14900 Conference Center Dr Chantilly VA 20151 General contracting services 15198744 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 5507055 Ayers Saint Gross Inc 1040 Hull Street Suite 100 Baltimore MD 21230 Construction design services 699956 Gaudreau Inc 810 Light St Baltimore MD 21230 Contractor & general maintnc 510086 APT Acquisition & Construction d/b/a Astroturf Corp 2680 Abutment Road Daton GA 30721 Contractor 499560 43 0 0 13409 0 3199301 6399013 685887 9611723 Undergrad Tuition, Fees, Room & Board 611310 77862513 77862513 0 0 Graduate Tuition, Fees, Room & Board 611310 6953637 6953637 0 0 Continuing Professional Education 611310 869277 869277 0 0 0 0 0 0 85685427 3138441 0 -11359 3149800 0 0 0 0 0 0 0 0 598754 0 383633 0 215121 0 215121 0 199729 15392 91066240 3144760 91701185 1672500 -634945 1472260 837315 0 17414 819901 30527 13409 42742 -12215 0 -12215 Summer Camp 611620 200867 0 176626 24241 Pilates 611699 313295 0 313295 0 Pool 713940 57385 0 57385 0 660311 0 0 660311 1231858 100707670 85685427 753090 4657430 39399567 39399567 460327 460327 1829888 561922 792442 475524 33558031 26266927 5785643 1505461 1403793 1098551 238535 66707 4186354 3104694 930360 151300 2325239 1793401 422292 109546 91277 91277 115465 115465 14803 14803 1081427 1081427 1805559 1101526 634995 69038 384892 136403 119849 128640 2962655 2328928 410199 223528 997948 129608 863308 5032 3231502 2181130 1032179 18193 1426241 1302315 31798 92128 430699 384406 31064 15229 3582421 3582421 8581882 8066969 429094 85819 517073 517073 Food Service Costs 4885174 4885174 0 0 Study abroad expense 1492307 1492307 0 0 Food 535839 398009 43045 94785 Other Administrative 281920 65851 214814 1255 115582283 98740436 13799662 3042185 1710958 2719233 1130896 1149548 6764336 2806276 2329960 2369307 0 0 0 0 0 0 0 0 1333797 1399705 307723178 118411319 183573851 189311859 171030385 148009555 48016240 55107461 5549328 3812300 0 0 5772331 5611725 427212082 412296969 15341034 8584480 0 0 3003866 2384121 105966172 107658536 0 0 0 0 0 0 0 0 16169000 17255561 140480072 135882698 X 95396710 93537760 102342639 92716221 88992661 90160290 286732010 276414271 427212082 412296969 X -14874613 4696245 969576 -1108947 X 0 1 X 1 1 1 X 10265011 9926402 11817463 15901533 9611723 57522132 0 0 0 0 0 0 0 0 0 0 0 0 10265011 9926402 11817463 15901533 9611723 57522132 16120211 41401921 2672000 2717646 2271012 2826985 3238763 13726406 235401 0 51406 0 0 286807 1016915 1122568 890711 716269 715079 4461542 75996887 415869997 0.54478 0.54166 X Schedule A, Part II, Line 10 Includes income from fundraising events and other revenue. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 2500 0 1 12303 14803 0 Schedule C, Part II-B, Line 1 Members of Goucher's senior management team, faculty, staff and a select number of students participated in the annual Independent Higher Education Day. The event was sponsored by the Maryland Independent College and University Association (MICUA), of which Goucher is a member, and brought students and administrators from across the state to Maryland's capital for a briefing and visits with elected officials. In addition, members of Goucher's staff met with elected officials on behalf of the College. The associated compensation for these activities is reported on line 1g. The organization paid membership dues of $7,822 to the National Association of Independent Colleges and Universities (NAICU) and $73,471 to the Maryland Independent Colleges and Universities Association (MICUA), both of which engage in lobbying activity. NAICU set aside approximately 7% of the dues paid to engage in non-deductible lobbying and political expenditures. MICUA set aside approximately 16% of the dues paid to engage in non-deductible lobbying and political expenditures. Accordingly, the College has reported an equal amount on line 1i. 0 0 X X X X X Education 0 214921000 1330000 7470000 4547000 15744000 0 203430000 209577000 845000 16871000 4785000 7587000 0 214921000 201482000 785000 19455000 4404000 7741000 0 209577000 216707000 2028000 -5460000 4324000 7469000 0 201482000 227559000 2118000 -2073000 3646000 7251000 0 216707000 0.173 0.423 0.404 1 0 0 12675450 12675450 0 259789855 93930484 165859371 0 0 0 0 0 31019246 24480835 6538411 0 4238627 0 4238627 189311859 Hedge Funds 25971552 F Limited partnership interests 29135909 F 55107461 0 Other long term liabilities 6407679 Obligation under interest rate swap agreement 4617734 Refundable advances from US government 2234069 Asset retirement obligation 2098708 Payables under split interest agreements 1897371 17255561 X 62647000 4696245 0 0 -41983402 -37287157 99934157 0 773513 773513 100707670 73935000 0 0 0 -773513 -773513 74708513 0 40873770 40873770 115582283 Schedule D, Part III, Line 1 The College did not disclose its collection nd related policies in its financial statements. Schedule D, Part III, Line 4 The College art collection is comprised of works of fine art, including two-dimensional and three-dimensional art objects and miscellaneous objects of value, which is owned by the College and housed in buildings or on the campus grounds of the College, or loaned by the College to other institutions. The collections include sculptures, prints, photographs, drawings, paintings, and other artistic objects. The collection is used for scholarly research, education and public exhibition in furtherance of the exempt purposes of the College. Schedule D, Part V, Line 4 The endowment of Goucher College generates income to support the College both generally and in specific ways designated by our generous donors. Income, allocated across approximately 720 endowments, supports both merit and need-based scholarships of undergraduate and graduate students; fellowships; internships; professorships; lectureships; the College library; and the College's general operating budget. Schedule D, Part X, Line 2 The College is qualified as a not for profit organization under section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for 2019 or 2018. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2019 and 2018, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the accompanying financial statements. The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. Schedule D, Part XI, Line 2d Includes SFA of 39,620,794, cost of study abroad of 1,492,307, unrealized loss of 1,108,947, net of reimbursements of expense, reclassified from revenue to expense, of 239,195 and a rounding adjustment of 549. Schedule D, Part XI, Line 4b Investment fees, less rental expenses and fundraising event expenses reclassified to revenue. Schedule D, Part XII, Line 2d Investment fees less rental expenses and fundraising event expenses reclassified from expense to revenue. Schedule D, Part XII, Line 4b Includes SFA of 39,620,794, cost of study abroad of 1,492,307, net of reimbursement of expense reclassified from revenue to expenses of 239,195 and a rounding adjustment of 136. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The racially nondiscriminatory policy is published in the College's academic catalog, student handbook and on the website. Schedule E, Part I, Line 6 The College participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity Grant Program, Federal Work Study Program, Perkins Loan Program, Federal Direct Student Loans, and Teacher Education Assistance for College and Higher Education. The College also received grants from the Maryland State Department of Education, Maryland Higher Education Commission and participates in the Maryland Sellinger Program. In addition, the College was awarded sponsored research and other program grants funded by the National Science Foundation, National Institute of Heath, National Endowment for the Humanities, US Department of State and the US Department of Education. 1 Central America and the Caribbean 0 0 Investments Investments 5206123 Central America and the Caribbean 0 0 Program Services Tuition,room,board&program 102754 East Asia and the Pacific 0 0 Program Services Tuition,room,board&program 188523 Europe (including Iceland and Greenland) 0 0 Program Services Tuition,room,board&program 1345663 Middle East and North Africa 0 0 Program Services Tuition,room,board&program 23402 Russia and the newly independent States 0 0 Program Services Tuition,room,board&program 32100 South America 0 0 Program Services Tuition,room,board&program 28359 South Asia 0 0 Program Services Tuition,room,board&program 86232 Sub-Saharan Africa 0 0 Program Services Tuition,room,board&program 183043 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Program 4488 0 0 7200687 Student Financial Aid Central America and the Caribbean 13 25548 Credit to student account Cash value Student Financial Aid East Asia and the Pacific 19 49749 Credit to student account cash value Student Financial Aid Europe (including Iceland and Greenland) 77 346780 Credit to student account Cash value Student Financial Aid Russia and the newly independent States 1 3876 Credit to student account Cash value Student Financial Aid South Asia 3 7126 Credit to student account Cash value Student Financial Aid Sub-Saharan Africa 17 27248 Credit to student account Cash value 1 0 1 1 1 0 Schedule F, Part I, Line 2 The College provides institutional grant funds limited to need-based and merit-based assistance to its students while they participate in study abroad experiences. In general, grants are credited into the student's tuition account. Financial need is determined by subtracting the expected family contribution - as calculated on the Free Application of Federal Student Aid (FAFSA) - from the student's total cost of attendance. Financial aid in awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid, in cooperation with the Office of Global Education. Schedule F, Part IV, Line 3 The College, through its investment in various alternative assets, has interests in foreign corporations. However, the College's interest in any single foreign corporation was less than 10 percent. Accordingly, the College is not required to file Form 5471. Schedule F, Part IV, Line 4 The College, through its investment in various alternative assets and common collective trusts, was a direct or indirect shareholder of a passive foreign investment company or qualifying electing fund. In these cases, the investment manager files Form 8621 on its investors' behalf. Accordingly, the College is not required to file Form 8621. Schedule F, Part IV, Line 5 The College, through its investment in various alternative assets, has ownership in foreign partnerships. However, the College owned less than 10% of any single foreign partnership and it did not directly or indirectly transfer greater than $100,000 to any foreign partnership. Accordingly, the College is not required to file Form 8865. Golf Fundraiser 40392 11815 28577 0 302 16488 0 0 583 0 0 40392 11815 28577 0 302 16488 0 0 583 17373 11204 1 Undergraduate and graduate grants and scholarships 2410 39114786 0 Cash Value Credits to students' accounts Prizes, awards, internships and fellowships 191 284781 0 Cash Value Schedule I, Part I, Line 2 Goucher College's institutional grant funds are limited to need-based and merit-based financial assistance for attendance at the College. Goucher College's comprehensive program of need-based and merit-based financial assistance is managed by the Office of Student Financial Aid. Financial need is determined by subtracting the Expected Family Contribution - as calculated on the Free Application for Federal Student Aid (FAFSA) from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Jose' Antonio Bowen President 345109 0 0 0 1290 0 17188 0 50262 0 413849 0 0 0 Trishana Bowden Vice President for Advancement 213393 0 0 0 299 0 13522 0 79234 0 306448 0 0 0 Bryan Coker Vice President and Dean of Students 148607 0 0 0 192 0 9786 0 24710 0 183295 0 0 0 William Leimbach VP for Information Technology and Planning 165130 0 0 0 943 0 10548 0 10580 0 187201 0 0 0 Leslie Lewis Provost 136940 0 0 0 15986 0 9781 0 10889 0 173596 0 0 0 Barbara Stob General Counsel 162387 0 0 0 895 0 10190 0 8682 0 182154 0 0 0 Lynne Lochte Vice President for Finance and Administration 202459 0 0 0 430 0 12878 0 10694 0 226461 0 0 0 Deborah Lupton Vice President for Human Resources 144483 0 0 0 175 0 9206 0 9259 0 163123 0 0 0 Martin Sweidel Senior Vice President for Strategic Initiatives 204594 0 0 0 1267 0 13148 0 19874 0 238883 0 0 0 David Grossman Associate Professor 149976 0 0 0 131 0 7656 0 272 0 158035 0 0 0 Terence McCann AVP of Facilities Managment Services 131250 0 0 0 97 0 4103 0 254 0 135704 0 0 0 Scott Sibley Acting Provost 167876 0 0 0 304 0 10856 0 18974 0 198010 0 0 0 Eric Singer Director of International Studies 148377 0 0 0 713 0 8781 0 8505 0 166376 0 0 0 Schedule J, Part I, Line 1a A residence and limited personal services are provided for the convenience of the President of the College. A housing allowance of $24,000 is included in the President's non-taxable compensation. Travel for the President's spouse was provided on a fundraising tour and is included in the President's taxable income. In addition, the College provides a de minimis gross-up payment to senior staff to cover the tax impact of long-term disability insurance. A MD Health and Higher Educational Facilities Authority Series 2012A 520936091 574218KW2 2012-08-30 22315289 Refund Series 2004 Revenue Bonds originally issued Aug. 18, 2004. 0 0 0 B MD Health and Higher Educational Facilities Authority Goucher College Issue Series 2017A 520936091 5742182H5 2017-06-20 60565232 Refund MHHEFA Series 2012B and 2012C bonds, dated 8/2012 0 0 0 C MD Health and Higher Education Authority Goucher Issue 2017B 520936091 2017-06-20 30000000 To finance and refinance the costs of certain capital projects to enhance residential life on campus 0 0 0 A 0 0 22315289 1069475 0 0 87289 0 0 0 22228000 0 2012 0 1 1 1 B 1860000 0 60565232 1122410 0 0 1068599 0 0 0 60488631 0 2017 1 0 1 1 C 1478000 0 30000000 0 0 0 0 0 0 30000000 0 0 2019 0 0 1 1 A 0 0 1 1 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 0 0 0 1 C 0 0 1 1 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 1 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 Schedule K, Part IV, Line 2c-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Autho BNY Mellon prepared the Goucher College MHHEFA Series 2012A rebate calculation as of 7/1/17 and determined no rebate was due. Dependent of an employee Dependent of an employee 43412 Tuition remission Tuition remission X 2 0 Policy X 58 685887 NYSE X Horse 2 0 Policy 4 0 1 0 Schedule M, Part I The number reported in column (b) represents the number of items contributed, except for line 9 - securities where all securities donated on one day by the same donor was counted as one contribution. Schedule M, Part I, Line 33 It is the policy of the College to record works of art, books, horses and other non cash gifts received at a book value of zero. Form 990, Part IV, Line 11b After review by the Audit Committee, the complete Form 990 and Form 990T were distributed electronically to all members of Board of Trustees for a period of review and comment lasting 7 days. At the conclusion of the periods of comment and review, a meeting of the Audit Committee of the Board of Trustees was convened to review and revise (if necessary) the Form 990 and 990T. The Forms were approved for Filing by the Audit and Governance Committee of the Board of Trustees on July 13, 2020. Form 990, Part VI, Section B, Line 11b After review by the Audit Committee, the complete Form 990 and Form 990T were distributed electronically to all members of Board of Trustees for a period of review and comment lasting 7 days. At the conclusion of the periods of comment and review, a meeting of the Audit Committee of the Board of Trustees was convened to review and revise (if necessary) the Form 990 and 990T. The Forms were approved for Filing by the Audit and Governance Committee of the Board of Trustees on July 13, 2020. Form 990, Part VI, Section B, Line 12c Every trustee, officer and key employee is provided a copy of the Conflict of Interest Policy each spring and required to complete an annual disclosure form reporting any known material financial or other interest of the trustee, officer or key employee or a family member in any transaction or business relationship the College has or is considering, including material financial or other interests in any outside entity involved in such transaction or relationship. General Counsel of the College reviews the disclosure forms and reports any disclosures to the Audit Committee of the Board of Trustees. Committee members then determine what, if any, action should be taken as to each disclosure and these actions are implemented by the General Counsel. The policy directs the committee to review and update the list of the key employees, and the policy itself is reviewed on a regular basis and revised as necessary. Form 990, Part VI, Section B, Line 15 Each year the College President distributes to the Board of Trustees the President's Goals and Objectives ("Goals and Objectives") for the upcoming year, as well as provides periodic updates on current year goals. Each spring Goucher receives data from the College and University Professional Association (CUPA) on compensation at comparable institutions, including Goucher's peer group, other local colleges, and prospective overlap institutions. The Vice President for Human Resources Director prepares this information for review by the College President and by the Compensation Committee of the Board. In addition, each spring the Chair of the Board asks Board members to supply the Board Chair and the Chair of the Compensation Committee with any comments a Board member may have on the President's performance with respect to the Goals and Objectives. After reviewing all of these materials, the Compensation Committee meets with the President to review the President's compensation recommendations for senior staff and evaluate the President's performance. The Compensation Committee's role with respect to compensation for senior staff is to determine whether any recommendation from the President includes excess benefits. The Compensation Committee then reviews with the President the President' s performance with respect to the President's Goals and Objectives, and then meets in executive session to determine its recommendation for the President's compensation. This recommendation is then considered by the Executive Committee of the Board of Trustees and final action is taken. Meeting minutes are maintained to document each Committee's review and action. The Compensation Committee Chair provides the General Counsel of the College with a confidential report of the deliberations of the Compensation Committee and the Executive Committee and of the Executive Committee's action. This report includes the CUPA comparability data on which the final determinations were based. A copy of this report is maintained in a confidential file kept by the General Counsel to memorialize the review. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and audited financial statements are available to the public upon request. Some policies are also available on the College website. Form 990, Part XI, Line 9 Changes in fair value of interest rate swap agreement Pooled Income Fund (2) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (4) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (1) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity FL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Schedule R, Part V, Line 1s The College received a remainder amount from a pooled income fund. Due to the COVID -19 Pandemic, the due date of the 990 was extended to July 15, 2020.