2019-05-14T10:33:15-05:00 2018-06-30 990 2017-07-01 030179414 Bennington College Corporation BENN 8024404328 One College Drive Bennington VT 05201 BRIAN MURPHY TREASURER 2019-05-14 2017 2020-04-17 16:48:07Z MARIKO SILVER One College Drive Bennington VT 05201 89789246 false X WWW.BENNINGTON.EDU X 1932 VT BENNINGTON COLLEGE IS A LIBERAL ARTS EDUCATIONAL INSTITUTION LOCATED IN BENNINGTON, VERMONT. THE UNDERGRADUATE AND GRADUATE ENROLLMENT OF MORE THAN 800 STUDENTS. 24 24 1060 250 -31251 -31251 15165939 14067234 45009886 47945715 1045919 1643693 683628 961487 61905372 64618129 19610952 23046248 0 26257783 27283683 0 2951719 13589941 14256946 59458676 64586877 2446696 31252 107370752 130923368 36308396 60517060 71062356 70406308 SEE SCHEDULE O. false false 47588863 22893903 47273077 UNDERGRADUATE PROGRAM: BENNINGTON COLLEGE HOLDS A DISTINGUISHED PLACE AMONG AMERICAN COLLEGES AND UNIVERSITIES. IT WAS THE FIRST TO INCLUDE THE VISUAL AND PERFORMING ARTS IN A LIBERAL ARTS EDUCATION, AND IT IS THE ONLY COLLEGE TO REQUIRE THAT ITS STUDENTS SPEND SEVEN WEEKS - EVERY YEAR - AT WORK IN THE WORLD (FIELD WORK TERM). BENNINGTON'S CENTER FOR THE ADVANCEMENT OF PUBLIC ACTION IS AN EXPRESSION OF THE COLLEGE'S COMMITMENT TO ENGAGING THE WORLD: BY EMBEDDING IN THE CURRICULUM AN ONGOING DYNAMIC BETWEEN PUBLIC RESPONSIBILITIES AND PRIVATE AMBITIONS, BENNINGTON AIMS TO ENSURE THAT ITS GRADUATES ARE COMMITTED TO, AND CAPABLE OF, EFFECTIVE ACTION IN THE WORLD. BENNINGTON STUDENTS DRAW ON THE FULL BREADTH OF THE COLLEGE'S CURRICULUM WHICH OFFERS CLASSES IN THE HUMANITIES, NATURAL SCIENCES, MATHEMATICS, SOCIAL SCIENCE, AND VISUAL AND PERFORMING ARTS - TO DESIGN INDIVIDUAL COURSES OF STUDY THAT ARE UNIFIED AND FUELED BY THEIR INTELLECT AND IMAGINATION, GUIDED BY THEIR FACULTY, AND SHAPED BY THEIR EXPERIENCE WORKING IN THE WORLD EACH YEAR. 1119028 152345 1663395 GRADUATE PROGRAMS: BENNINGTON'S GRADUATE PROGRAMS ARE BUILT ON THE BELIEF THAT MAKING NEW WORK IS AT THE HEART OF THE EDUCATIONAL PROCESS. THE COLLEGE'S GRADUATE PROGRAMS ARE SMALL, INTENSIVE, AND SELECTIVE. BENNINGTON OFFERS TWO LOW-RESIDENCY GRADUATE PROGRAMS: A MASTER OF FINE ARTS IN WRITING, WHICH IS NATIONALLY RECOGNIZED AND A MASTER OF FINE ARTS IN PERFORMING ARTS. THE COLLEGE ALSO OFFERS A POST BACCALAUREATE PREMEDICAL PROGRAM. IN 2017-18, THESE PROGRAMS SERVED APPROXIMATELY 100 STUDENTS. 48707891 true true false true false false true false true true false false false false true true true true false true false true false false false false false true true true false false false false false false false false false false true true false false true true false false false true 152 0 true 1060 true true true false false false false true true true false false false X 24 24 false false false false false false false true true false false true true true true true true true false true true VT X BRIAN MURPHY 8024404328 One College Drive Bennington VT 05201 RICHARD ADER TRUSTEE (STARTED 12/2017) 1.0 X 0 0 0 PRISCILLA ALEXANDER TRUSTEE 1.0 X 0 0 0 TRACY KATSKY BOOMER TRUSTEE 1.0 X 0 0 0 SUSAN PARIS BORDEN TRUSTEE 1.0 X 0 0 0 SUZANNE BRUNDAGE TRUSTEE 1.0 X 0 0 0 MATTHEW CLARKE TRUSTEE 1.0 X 0 0 0 BARBARA USHKOW DEANE VICE CHAIRMAN 1.0 X 0 0 0 WILLIAM DERROUGH TRUSTEE 1.0 X 0 0 0 NARE FILIPOYSAN TRUSTEE 1.0 X 0 0 0 MICHAEL HECHT TRUSTEE 1.0 X 0 0 0 NEJLA KATICA TRUSTEE (STARTED 6/2018) 1.0 X 0 0 0 JOHN J KENNEY TRUSTEE 1.0 X 0 0 0 ALAN KORNBERG CHAIRMAN 1.0 X 0 0 0 DANIEL B ROWLAND TRUSTEE 1.0 X 0 0 0 ELLEN BESKIND SAFIR TRUSTEE (STARTED 9/2017) 1.0 X 0 0 0 MARY SCANLAN TRUSTEE (STARTED 6/2018) 1.0 X 0 0 0 CHARLENE SOLOW SCHWARTZ TRUSTEE 1.0 X 0 0 0 KIMBERLY SCOTT TRUSTEE (STARTED 12/2017) 1.0 X 0 0 0 JONATHAN MARC SHERMAN TRUSTEE (STARTED 12/2017) 1.0 X 0 0 0 JAMES SIMON TRUSTEE 1.0 X 0 0 0 BEN SIMPSON TRUSTEE (ROTATED OFF 6/2018) 1.0 X 0 0 0 NICHOLAS STEPHENS VICE CHAIRMAN 1.0 X 0 0 0 CATHARINE STIMPSON TRUSTEE 1.0 X 0 0 0 PENELOPE PERKINS WILSON TRUSTEE 1.0 X 0 0 0 MARIKO SILVER PRESIDENT (EXOFFICIO) 40.0 X 492165 0 120651 DAVID REES SENIOR VP FOR INSTITUTIONAL INITIATIVES 40.0 X 183105 0 21601 BRIAN MURPHY VP FOR FINANCE AND ADMINISTRATION 40.0 X 198692 0 27378 ISABEL ROCHE PROVOST AND DEAN OF THE COLLEGE 40.0 X 204500 0 17930 HUNG BUI VP AND DEAN OF ADMISSIONS AND FINANCIAL AID 40.0 X 184247 0 30803 MATT RIZZO VP FOR INSTITUTIONAL ADVANCEMENT 40.0 X 279693 0 38598 PAIGE BARTELS SR. VP FOR STRATEGIC PARTNERSHIPS 40.0 X 188623 0 16304 ELIZABETH BREIDINGER EXECUTIVE DIRECTOR FOR DEVELOPMENT 40.0 X 154007 0 21186 TERRY CREACH ASSOCIATE DEAN - FACULTY AFFAIRS 40.0 X 134052 0 13551 ANDREW SCHLATTER AVP FOR FACILITIES MANAGEMENT AND PLANNING 40.0 X 120972 0 14076 HEATHER FALEY DIRECTOR OF HUMAN RESOURCES 40.0 X 117303 0 9282 2257359 0 331360 20 false true false PC CONSTRUCTION 193 TILLEY DRIVE SOUTH BURLINGTON VT 05403 GNRL CONTRACTOR 8583281 Aramark Corporation PO BOX 906023 CHARLOTTE NC 28290 FOOD SERV. PROVIDER 4163240 CHRISTOFF FINIO ARCHITECTURE 250 W BROADWAY 4TH FLOOR NEW YORK NY 10013 ARCHITECT 2100705 RUSSELL CONSTRUCTION SERVICES INC 170 SOUTH MAIN ST SUITE 6 RUTLAND VT 05701 GNRL CONTRACTOR 1716132 ENVIROVANTAGE 680 STROUDWATER ST WESTBROOK ME 04092 ENVIRONMENTAL REMEDIATION 853685 20 X 519408 13547826 6393914 14067234 TUITION & FEES 611710 37407396 37407396 ROOM & BOARD 721310 9891953 9891953 ANCILLARY STUDENT SVCS 611710 646366 646366 0 0 0 0 47945715 637470 637470 625517 500815 124702 0 124702 155953 -31251 25676525 24670302 1006223 0 1006223 1006223 BOOKSTORE REVENUE 611710 221918 221918 NON-FUNDRAISING EVENT REVENUE 611710 55323 55323 EMPLOYEE FOOD SALES 611710 21808 21808 537736 537736 0 0 836785 64618129 48938453 -31251 1643693 16897225 16897225 6149023 6149023 1840231 471784 1049834 318613 20847246 14758047 4408867 1680332 1115821 754031 263118 98672 1992440 1373805 446444 172191 1487945 1017637 341797 128511 115777 1500 114277 76000 76000 99626 99626 0 0 0 0 139863 27207 112656 808201 439568 319722 48911 768381 493250 199199 75932 1379256 925760 453496 844654 664338 62230 118086 113605 51617 25017 36971 1070383 669514 400869 3374295 1488064 1886231 587399 587399 OTHER SERVICES 2889485 656918 1963330 269237 FOOD SERVICES 1675986 1596596 78111 1279 PROJECTS AND EVENTS 120659 117115 3326 218 OTHER MISCELLANEOUS EXPENSES 193376 154892 35718 2766 0 0 0 0 64586877 48707891 12927267 2951719 1684220 15302746 16800677 15662261 1100824 797765 0 0 0 144424 140320 646723 465410 116120003 42866623 61841610 73253380 22522505 21828500 48235 48235 0 2581534 3424751 107370752 130923368 5444475 4991651 4335879 4227100 24977553 51298309 0 1550489 0 36308396 60517060 X 25620764 22070370 13724985 16127566 31716607 32208372 71062356 70406308 107370752 130923368 X 31252 -144964 -542336 X false true X true true true X 5745304 14274613 18147330 15165939 14067234 67400420 0 0 5745304 14274613 18147330 15165939 14067234 67400420 0 67400420 893013 765662 808275 756821 869493 4093264 0 0 0 0 0 365310 481851 504591 628674 836785 2817211 74310895 209569217 0.9070 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 Schedule A, Part II, Line 10 Other Income DESCRIPTION - EMPLOYEE FOOD SALES, COLUMN A - 26140.0, COLUMN B - 24114.0, COLUMN C - 46745.0, COLUMN D - 15603.0, COLUMN E - 21808.0, COLUMN F - 134410.0; DESCRIPTION - BOOKSTORE REVENUE, COLUMN A - 164364.0, COLUMN B - 175513.0, COLUMN C - 217302.0, COLUMN D - 220048.0, COLUMN E - 220177.0, COLUMN F - 997404.0; DESCRIPTION - EVENT REVENUE, COLUMN A - 78260.0, COLUMN B - 55921.0, COLUMN C - 58091.0, COLUMN D - 62615.0, COLUMN E - 55323.0, COLUMN F - 310210.0; DESCRIPTION - OTHER REVENUE, COLUMN A - 96546.0, COLUMN B - 226303.0, COLUMN C - 182453.0, COLUMN D - 330408.0, COLUMN E - 539477.0, COLUMN F - 1375187.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 4013 4013 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORUMS SERVING THE INTEREST OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $4,013 Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORUMS SERVING THE INTEREST OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $4,013 X X X false 33798841 443561 1549453 244447 452498 99626 34995284 25920165 6573360 2002153 234333 369801 92703 33798841 17141596 8778873 965248 295955 551387 118210 25920165 17892664 148557 -72635 203233 500097 123660 17141596 16095407 494226 2087428 189098 465313 129986 17892664 0.0 0.921 0.079 false false 1824024 1824024 92031197 36565965 55465232 6957 522 6435 5346208 3606989 1739219 16911617 2693147 14218470 73253380 INTEREST RATE SWAPS AT FMV 0 0 X 41285770 -144964 -23087769 -23232733 64518503 99626 0 99626 64618129 41941818 500815 500815 41441003 99626 23046248 23145874 64586877 Schedule D, Part X, Line 2 THE COLLEGE GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATION WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, THE COLLEGE MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE "MORE-LIKELY-THAN-NOT" THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. THE COLLEGE HAS ANALYZED ALL OPEN TAX YEARS, AS DEFINED BY STATUTES OF LIMITATIONS, FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR TAXING AUTHORITIES FOR THE COLLEGE INCLUDE THE FEDERAL GOVERNMENT AND THE STATE OF VERMONT. AS OF JUNE 30, 2017, OPEN FEDERAL AND VERMONT TAX YEARS FOR THE COLLEGE INCLUDE THE TAX YEARS ENDED JUNE 30, 2014 THROUGH JUNE 30, 2016. THE COLLEGE HAS NO EXAMINATION IN PROGRESS. THE COLLEGE BELIEVES IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. Schedule D, Part III, Line 4 Collections of art - description of collections BENNINGTON COLLEGE WAS THE FIRST COLLEGE IN THE NATION TO INCLUDE THE VISUAL AND PERFORMING ARTS AS AN EQUAL PARTNER IN THE LIBERAL ARTS CURRICULUM. BY THE MIDDLE OF THE 20TH CENTURY, BENNINGTON WAS ALREADY PLAYING A CENTRAL ROLE IN THE AMERICAN ART SCENE - SERVING AS A LOCUS FOR MANY MAJOR FIGURES IN THE ART WORLD. BECAUSE OF ITS REMARKABLE HISTORY, BENNINGTON COLLEGE HAS ACQUIRED A UNIQUE COLLECTION OF PAINTINGS, PHOTOGRAPHS, PRINTS AND SCULPTURES - A LARGE PORTION OF THE COLLECTION CONSISTING OF WORK MADE BY ITS RENOWNED ALUMNI, FACULTY AND CAMPUS VISITORS. PRIMARILY A TEACHING COLLECTION, NEW WORK AND WORK FROM THE EXISTING COLLECTION ARE EVALUATED FOR THEIR RELEVANCE TO THE COLLECTION AS A WHOLE. SELECT WORK IS OCCASIONALLY LENT FOR NATIONAL EXHIBITIONS AND EXHIBITIONS IN THE REGION. MUCH OF THE COLLECTION IS PERMANENTLY ON DISPLAY THROUGHOUT THE CAMPUS AND IS EXHIBITED ROUTINELY THROUGH SPECIAL EXHIBITIONS IN THE COLLEGE'S USDAN GALLERY AND THE CROSSETT LIBRARY. Schedule D, Part V, Line 4 Intended uses of endowment funds THE COLLEGE'S ENDOWMENT CONSISTS OF SEVERAL DOZEN INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE COLLEGE, IF ANY, TO FUNCTION AS ENDOWMENTS. THE COLLEGE USES THE TOTAL RETURN CONCEPT, AND ITS SPENDING POLICY IS DESIGNED TO STABILIZE ANNUAL SPENDING LEVELS AND TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT ASSETS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The College generally does not provide for income taxes since it is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. ASC 740, Income Taxes, permits an entity to recognize the benefit and requires accrual of an uncertain tax position only when the position is "more likely than not" to be sustained in the event of examination by tax authorities. In evaluating whether a tax position has met the recognition threshold, the College must presume that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information. ASC 740 also provides guidance on the recognition, measurement, and classification of income tax uncertainties, along with any related interest or penalties. Tax positions deemed to meet the "more-likely than-not" threshold are recorded as a tax expense in the current year. The College has analyzed all open tax years, as defined by the statutes of limitations, for all major jurisdictions. Open tax years are generally open for exam by taxing authorities three years after filling which for the College are 2015, 2016, and 2017. Major taxing authorities for the College include the Federal government and the state of Vermont. The College has no examinations in progress. The College believes it has no significant uncertain tax positions. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF LONG-TERM INVESTMENTS - -107329 CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS - -483211 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - 48204 RENT EXPENSES - 500815 FINANCIAL AID - -23046248 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENT EXPENSE - 500815 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements FINANCIAL AID - 23046248 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY BENNINGTON COLLEGE IS COMMITTED TO A POLICY OF NON-DISCRIMINATION AS DEFINED UNDER APPLICABLE STATE AND FEDERAL LAWS. DISCRIMINATION WITH REGARD TO AGE, SEX, CREED, DISABILITY, NATIONAL ORIGIN, RACE, COLOR, SEXUAL ORIENTATION, GENDER IDENTITY, MARITAL STATUS, OR ANY OTHER LEGALLY PROTECTED CATEGORY IS PROHIBITED. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT BENNINGTON COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT FINANCIAL AID PROGRAMS AS WELL AS RECEIVES GRANTS FROM THE NATIONAL SCIENCE FOUNDATION AND, OCCASIONALLY, OTHER GOVERNMENT AGENCIES. THE COLLEGE HAS ALSO BEEN APPROVED FOR FINANCIAL SUPPORT FROM THE USDA COMMUNITY FACILITIES PROGRAM IN THE FORM OF A DIRECT LOAN AND A USDA GUARANTEE OF A COMMERCIAL LOAN. true Central America and the Caribbean 0 0 Grantmaking 323925 East Asia and the Pacific 0 0 Grantmaking 1085820 Europe (Including Iceland and Greenland) 0 0 Grantmaking 1596390 Middle East and North Africa 0 0 Grantmaking 155265 North America (Canada & Mexico only) 0 0 Grantmaking 123935 Russia and Neighboring States 0 0 Grantmaking 575243 South America 0 0 Grantmaking 378146 South Asia 0 0 Grantmaking 1445479 Sub-Saharan Africa 0 0 Grantmaking 464820 0 0 0 0 0 0 6149023 0 6149023 Bennington Grant Central America and the Caribbean 7 250925 ACCT CREDIT Bennington Grant East Asia and the Pacific 22 726070 ACCT CREDIT Bennington Grant Europe (Including Iceland and Greenland) 29 1111527 ACCT CREDIT Bennington Grant Middle East and North Africa 5 113515 ACCT CREDIT Bennington Grant North America (Canada & Mexico only) 2 88935 ACCT CREDIT Bennington Grant Russia and Neighboring States 12 467243 ACCT CREDIT Bennington Grant South America 9 308146 ACCT CREDIT Bennington Grant South Asia 27 1062354 ACCT CREDIT Bennington Grant Sub-Saharan Africa 10 339789 ACCT CREDIT Brockway Scholarship Central America and the Caribbean 5 73000 ACCT CREDIT Brockway Scholarship East Asia and the Pacific 22 359750 ACCT CREDIT Brockway Scholarship Europe (Including Iceland and Greenland) 26 484863 ACCT CREDIT Brockway Scholarship Middle East and North Africa 3 41750 ACCT CREDIT Brockway Scholarship North America (Canada & Mexico only) 2 35000 ACCT CREDIT Brockway Scholarship Russia and Neighboring States 9 108000 ACCT CREDIT Brockway Scholarship South America 7 70000 ACCT CREDIT Brockway Scholarship South Asia 24 383125 ACCT CREDIT Brockway Scholarship Sub-Saharan Africa 9 125031 ACCT CREDIT false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds ALL GRANTS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO INTERNATIONAL STUDENTS STUDYING AT THE COLLEGE'S CAMPUS IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS ALL GRANTS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO INTERNATIONAL STUDENTS STUDYING AT THE COLLEGE'S CAMPUS IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. true FEDERAL GRANTS 60 242997 BENNINGTON GRANT 368 10012081 BROCKWAY SCHOLARSHIP 453 5955685 BENNINGTON SCHOLARSHIP 1 29550 OTHER GRANTS 95 656912 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. ALL GRANTS TO INDIVIDUALS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO U.S. STUDENTS TO ATTEND THE COLLEGE IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. X X true true X X X false true false false false false false false false MARIKO SILVER PRESIDENT (EXOFFICIO) 492165 0 0 0 0 0 106413 0 14238 0 612816 0 0 0 DAVID REES SENIOR VP FOR INSTITUTIONAL INITIATIVES 183105 0 0 0 0 0 15687 0 5914 0 204706 0 0 0 BRIAN MURPHY VP FOR FINANCE AND ADMINISTRATION 198692 0 0 0 0 0 17470 0 9908 0 226070 0 0 0 ISABEL ROCHE PROVOST AND DEAN OF THE COLLEGE 204500 0 0 0 0 0 17470 0 460 0 222430 0 0 0 HUNG BUI VP AND DEAN OF ADMISSIONS AND FINANCIAL AID 184247 0 0 0 0 0 16570 0 14233 0 215050 0 0 0 MATT RIZZO VP FOR INSTITUTIONAL ADVANCEMENT 279693 0 0 0 0 0 24526 0 14072 0 318291 0 0 0 PAIGE BARTELS SR. VP FOR STRATEGIC PARTNERSHIPS 188623 0 0 0 0 0 15687 0 617 0 204927 0 0 0 ELIZABETH BREIDINGER EXECUTIVE DIRECTOR FOR DEVELOPMENT 154007 0 0 0 0 0 12824 0 8362 0 175193 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use AS A SMALL, RESIDENTIAL UNDERGRADUATE COLLEGE, BENNINGTON'S PRESIDENT IS REQUIRED TO LIVE AT THE COLLEGE OWNED RESIDENCE MAINTAINED HISTORICALLY FOR THE USE OF THE SITTING PRESIDENT. IN ADDITION TO SERVING AS THE PRESIDENT'S RESIDENCE, THE PRESIDENT'S HOUSE IS USED FOR NUMEROUS PRESIDENTIAL-LED ACTIVITIES INCLUDING TRUSTEE, FACULTY, STAFF, STUDENT AND ALUMNI MEETINGS, RECEPTIONS AND EVENTS. THE HOUSING IS A NON-TAXABLE BENEFIT PROVIDED TO THE PRESIDENT AND THE ESTIMATED AMOUNT OF THIS BENEFIT IS REPORTED ON SCHEDULE J, PART II. THE VP AND DEAN OF ADMISSIONS AND FINANCIAL AID IS ALSO PROVIDED WITH A COLLEGE OWNED RESIDENCE. THE RESIDENCE IS PROVIDED TO ASSIST IN MEETING THE ON CAMPUS DUTIES AND REQUIREMENTS OF THE POSITION. Schedule J, Part I, Line 1a Personal services A HOUSEKEEPER IS PROVIDED TO THE PRESIDENT TO FACILITATE HER ABILITY TO FOCUS ON HER DUTIES AND RESPONSIBILITIES. THE TOTAL COST OF WAGES AND BENEFITS FOR THE ASSISTANCE HAS BEEN INCLUDED IN THE PRESIDENT'S REPORTED TAXABLE WAGES. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan MARIKO SILVER, PRESIDENT OF THE COLLEGE, PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS DESCRIBED IN SECTION 457(F). THE AMOUNT ACCRUED UNDER THE PLAN FOR FY 2018 WAS $62,093, WHICH IS REPORTED ON SCHEDULE J, COLUMN C. A VT ED & HEALTH BUILDINGS FINANCE AUTHORITY 237154467 2006-11-03 3000000 CONSTRUCTION OF FACILITY true false false B VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2008-12-16 10000000 SEE PART VI true false false C VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2008-12-31 10000000 CONSTRUCTION OF FACILITY true false false D VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2009-05-06 8150000 CONSTRUCTION OF FACILITY true false false A 3000000 3128819 35480 2964520 2008 false false true true B 10000000 10034144 190000 2843756 6966244 2011 false true true true C 10000000 10135471 150000 9850000 2011 false false true true D 8150000 8250669 163000 7946250 40750 2012 false false true true A false false false false 0.0 false false false B false false false false 0.0 0.0 0.0 false false false C false false false false 0.0 0.0 0.0 false false false D false false false false 0.0 0.0 0.0 false false false A false false false true false false false false false B false false false true true true TD BANK NA 20.1 false true false false false C false false false true true true TD BANK NA 20.0 false true false false false D false false false true true true TD BANK NA 19.7 false true false false false A false B false C false D false Schedule K, Part I, Column (f) CONSTRUCTION OF FACILITY AND REFUND PRIOR TO ISSUE. OF THE AMOUNT OF PROCEEDS FROM THE BOND ISSUED 12/16/2008, $6,966,244 WAS AN ADVANCE REFUNDING OF A BOND ISSUED 10/21/1999. Schedule K, Part II, Line 3 THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. Schedule K, Part II, Line 11 OTHER SPENT PROCEEDS IN COLUMN D OF $40,750 REPRESENT BOND ISSUER FEES. Schedule K, Part IV, Line 2c NOTE REGARDING THE REBATE COMPUTATIONS: SINCE THE BOND PROCEEDS HAVE BEEN SPENT AND THE DEBT SERVICE FUNDS ARE OPERATED ON A BONA FIDE BASIS, NO FURTHER CALCULATIONS ARE NECESSARY. Schedule K, Part III, Line 9 AND PART V THERE ARE NO WRITTEN POLICIES AND PROCEDURES; HOWEVER, BENNINGTON COLLEGE COMPLIES WITH THE POLICIES AND PROCEDURES IN THE BOND DOCUMENTS. Schedule K, Part IV, Line 2c COLUMN A Issuer name: VT ED & HEALTH BUILDINGS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/22/2008 Schedule K, Part IV, Line 2c COLUMN B Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 06/16/2010 Schedule K, Part IV, Line 2c COLUMN C Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 01/01/2011 Schedule K, Part IV, Line 2c COLUMN D Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 04/30/2012 A VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2017-09-12 47575000 false false false A 0 0 47575000 11920046 2323761 0 1211267 0 0 24847398 0 9596289 2019 true false false true A false false false false 0.0 0.0 0.0 false false false A false true false false false false false false false A false X 21 569150 Market value X 44 5030400 Market value X 1 375600 Market value X OTHER 57 418764 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Miscellaneous - NUMBER OF CONTRIBUTIONS Other - OTHER NUMBER OF CONTRIBUTIONS Real estate - Other - NUMBER OF CONTRIBUTIONS Art - Works of art - NUMBER OF ITEMS RECEIVED Form 990, Part VI, Line 11b Review of form 990 by governing body ALL MEMBERS OF THE BOARD OF TRUSTEES RECEIVE A DRAFT OF THE FORM 990 FOR THEIR REVIEW AND COMMENT. AFTER RECEIPT OF THEIR COMMENTS AND QUESTIONS, CHANGES OR CORRECTIONS WERE MADE PRIOR TO SUBMISSION OF THE FINAL FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy THE CONFILICT OF INTEREST POLICY READS AS FOLLOWS: 1. TRUSTEES, OFFICERS AND KEY EMPLOYEES OF BENNINGTON COLLEGE SHALL AVOID PLACING THEMSELVES IN POSITIONS IN WHICH THERE MAY BE CONFLICT BETWEEN THEIR PERSONAL INTERESTS AND THEIR DUTIES TO BENNINGTON. 2. A CONFLICT OF INTEREST EXISTS WHEN THERE IS THE POTENTIAL THAT A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY OBTAIN A DIRECT OR INDIRECT PECUNIARY OR OTHER PERSONAL BENEFIT, OR ANY OTHER IMPROPER GAIN OR ADVANTAGE, AT THE EXPENSE OF THE INTERESTS OF THE COLLEGE, OR WHEN A TRUSTEE, OFFICER, OR KEY EMPLOYEE OF THE COLLEGE ACCEPTS A GIFT OR OTHER FAVOR UNDER CIRCUMSTANCES FROM WHICH IT MIGHT BE INFERRED THAT SUCH FIGTS WERE INTENDED TO INFLUENCE THE PERFORMANCE OF DUTIES FOR THE COLLEGE. 3. INDIVIDUALS COVERED BY THIS POLICY HAVE A DUTY TO VOLUNTARILY SELF-DISCLOSE TO THE CHAIR OF THE BOARD OF TRUSTEES (UNLESS THE DISCLOSURE IS BY THE CHAIR, IN WHICH EVENT IT SHALL BE MADE TO THE VICE CHAIR) ANY POTENTIAL CONFLICT OF INTEREST: (1) PRIOR TO ASSUMING THEIR RESPONSIBILITIES, AND (2) AT THE TIME ANY POTENTIAL CONFLICT ARISES. IN THE CASE OF DISCLOSURE BY A KEY EMPLOYEE UNRELATED TO THE PROCEEDINGS OF THE BOARD OF TRUSTEES, THE DISCLOSURE SHALL BE MADE TO THE PRESIDENT. 4. EACH PROPOSED TRANSACTION IN WHICH IT IS DISCLOSED OR OTHERWISE KNOWN TO THE BOARD OR TO MANAGEMENT THAT A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY HAVE A CONFLICT OF INTEREST SHALL BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR SUCH ACTION AS THE EXECUTIVE COMMITTEE MAY DETERMINE AND REPORTED TO THE BOARD OF TRUSTEES. 5. ANY INDIVIDUAL COVERED BY THIS POLICY SHALL NOT VOTE OR USE THAT INDIVIDUAL'S PERSONAL INFLUENCE ON ANY MATTER WITH RESPECT TO WHICH THE INDIVIDUAL BELIEVES HIM OR HERSELF TO HAVE A CONFLICT OF INTEREST, OR WITH RESPECT TO WHICH THE EXECUTIVE COMMITTEE HAS DETERMINED PURSUANT TO PARAGRAPH 4 THAT THE INDIVIDUAL HAS A CONFLICT OF INTEREST SUBJECT TO THIS POLICY. 6. ALL DISSENTING VOTES AND ABSTENTIONS FROM VOTING SHALL BE DULY NOTED IN THE MINUTES OF ALL MEETINGS OF THE BOARD AND ITS COMMITTEES. 7. EACH TRUSTEE, OFFICER OR KEY EMPLOYEE SHALL SIGN A CONFLICT OF INTEREST STATEMENT IN ACCORDANCE WITH THE STATEMENT ATTACHED HERETO. 8. THE SECRETARY OF THE CORPORATION SHALL MAINTAIN A FILE OF INFORMATION DISCLOSED BY TRUSTEES, OFFICER AND KEY EMPLOYEES. SUCH FILE OF INFORMATION SHALL BE AMENDED ANNUALLY ON SUCH DATE AS THE BOARD OF TRUSTEES SHALL DETERMINE. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE PRESIDENT'S COMPENSATION IS SET AFTER A REVIEW OF COMPENSATION DATA FROM PERTINENT INSTITUTIONS AND IN CONJUNCTION WITH AN ASSESSMENT OF PERFORMANCE. Form 990, Part VI, Line 19 Required documents available to the public BENNINGTON COLLEGE MAKES FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST, AS REQUIRED. ALL OTHER DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue OTHER REVENUE - Total Revenue: 537736, Related or Exempt Function Revenue: 537736, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF INVESTMENT RETURN ON LONG-TERM INVESTMENTS - -107329; CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS - -483211; CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - 48204; FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION BENNINGTON COLLEGE IS A LIBERAL ARTS EDUCATIONAL INSTITUTION LOCATED IN BENNINGTON, VERMONT. THE UNDERGRADUATE AND GRADUATE ENROLLMENT IS MORE THAN 800 STUDENTS. ORGANIZATION'S MISSION: THE MEN AND WOMEN WHO BROUGHT BENNINGTON COLLEGE INTO BEING SOUGHT TO CREATE A COLLEGE THAT WOULD EMPHASIZE "THE INDIVIDUAL STUDENT AND HER DEVELOPING INTERESTS," LEARNING "BY ACTIVITY AND LIVING," A COMMUNITY LIFE DESIGNED TO "BREAK DOWN ARTIFICIAL BARRIERS BETWEEN TEACHER AND STUDENT AND BETWEEN CURRICULUM AND EXTRA CURRICULUM," AND "A CONSCIOUS ELASTICITY IN EDUCATIONAL PLANS." THE PRINCIPLE OF LEARNING BY PRACTICE AND THE EMPHASIS ON THE INDIVIDUAL UNDERLIE EVERY MAJOR FEATURE OF A BENNINGTON EDUCATION: THE CLOSE WORKING RELATIONSHIP BETWEEN STUDENT AND TEACHER, THE INSISTENCE ON SELF-DETERMINATION, THE COMMITMENT TO LEARNING ACROSS THE DISCIPLINES, AND THE FIELD WORK TERM, WHICH GIVES STUDENTS WORK EXPERIENCE AND CONNECTS THEM TO THE GREATER COMMUNITY. THE PLAN PROCESS, THROUGH WHICH STUDENTS DESIGN THEIR ACADEMIC EXPERIENCES AND NAVIGATE THEIR BENNINGTON EDUCATION, EMBODIES THE COLLEGE'S MISSION. ALSO KEY TO BENNINGTON'S PHILOSOPHY IS THE CONVICTION THAT A COLLEGE EDUCATION SHOULD NOT MERELY PROVIDE PREPARATION FOR GRADUATE SCHOOL OR A CAREER, BUT SHOULD BE AN EXPERIENCE VALUABLE IN ITSELF AND THE MODEL FOR A LIFELONG HABIT OF LEARNING. A STATEMENT DESCRIBING BENNINGTON'S GUIDING IDEALS WAS READ AT THE FIRST COMMENCEMENT AND HAS BEEN PART OF EVERY COMMENCEMENT SINCE - WHICH CONTINUES TO EXPRESS THE COLLEGE'S MISSION AND PURPOSES. COMMENCEMENT STATEMENT BENNINGTON REGARDS EDUCATION AS A SENSUAL AND ETHICAL, NO LESS THAN AN INTELLECTUAL, PROCESS. IT SEEKS TO LIBERATE AND NURTURE THE INDIVIDUALITY, THE CREATIVE INTELLIGENCE, AND THE ETHICAL AND AESTHETIC SENSIBILITY OF ITS STUDENT, TO THE END THAT THEIR RICHLY VARIED NATURAL ENDOWMENTS WILL BE DIRECTED TOWARD SELF-FULFILLMENT AND TOWARD CONSTRUCTIVE SOCIAL PURPOSES. WE BELIEVE THAT THESE EDUCATIONAL GOALS ARE BEST SERVED BY DEMANDING OUR STUDENTS' ACTIVE PARTICIPATION IN THE PLANNING OF THEIR OWN PROGRAMS, AND IN THE REGULATION OF THEIR OWN LIVES ON CAMPUS. STUDENT FREEDOM IS NOT THE ABSENCE OF RESTRAINT, HOWEVER; IT IS RATHER THE FULLEST POSSIBLE SUBSTITUTION OF HABITS OF SELF-RESTRAINT FOR RESTRAINT IMPOSED BY OTHERS. THE EXERCISE OF STUDENT FREEDOM IS THE VERY CONDITION OF A MEANINGFUL EDUCATION, AND AN ESSENTIAL ASPECT OF THE NURTURE OF FREE CITIZENS, DEDICATED TO CIVILIZED VALUES AND CAPABLE OF CREATIVE AND CONSTRUCTIVE MEMBERSHIP IN MODERN SOCIETY. BC CAMPUS HOLDINGS LLC 177 CAMPUS ROAD BENNINGTON VT 05201 811952664 LEASING/FINANCING VT 332909 53102727 BENNINGTON COLLEGE CORPORATION BENNINGTON COLLEGE REST & CATERERS LTD ONE COLLEGE DRIVE BENNINGTON VT 05201 030287721 INACTIVE VT NA C Corporation 0 0 1.00 true CHARITABLE REMAINDER TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST CT NA Trust 0 0 true PERPETUAL TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST VA NA Trust 401823 411380 true PERPETUAL TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST MN NA Trust 1689208 1727855 true LEAD TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST NA Trust 0 0 true false false false false false false false false false false false false false false false false false false false