2019-05-13T08:02:52-05:00 2018-06-30 GRANT THORNTON LLP 75 State Street Boston MA 02109 990 2017-07-01 041286950 EMERSON COLLEGE % JONATHAN PEARSALL EMER 6178248500 120 BOYLSTON STREET BOSTON MA 021164624 PHILIP SHAPIRO VP Admin & Finance 6178248426 2019-05-07 true Daniel Romano P00504182 6177237900 2019-05-10 209.220.136.124 04586620191335000000 2019-05-13 P 7D14034AF515942D2ABE7F7E27EA16D2649DB046 7D14034AF515942D2ABE7F7E27EA16D2649DB046 2017 2019-02-21 02:37:17Z M Lee Pelton 120 BOYLSTON STREET BOSTON MA 021164624 278605260 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. 27 26 3161 1200 2255938 -2693397 7698561 10444894 211993196 221173204 2050924 7444593 8563654 7249329 230306335 246312020 40292139 44356265 0 0 94312133 99532726 0 0 6569396 86465046 98018757 221069318 241907748 9237017 4404272 1012742709 1035327915 571942182 603635912 440800527 431692003 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 152480375 44356265 188047563 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 3,981 UNDERGRADUATE AND 677 GRADUATE STUDENTS ANNUALLY - THIS YEAR FROM 50 U.S. STATES, WASHINGTON D.C., PUERTO RICO, VIRGIN ISLANDS, GUAM AND 75 COUNTRIES. THE COLLEGE HAS MORE THAN 500 FULL AND PART-TIME FACULTY. 53200422 0 36743783 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR THE STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THE SERVICES INCLUDE ROOM, BOARD AND THE BOOKSTORE. 205680797 true true false true false false false false false true true true 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 5366 0 true 3161 true true true true NL false false false true true false false false false X 27 26 true false false 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 Daniel Black Board Member (thru 06/18) 2.0 0.0 X 0 0 0 Kevin Bright Board Member (AS OF 10/17) 2.0 0.0 X 0 0 0 Bobbi Brown Board Member 2.0 0.0 X 0 0 0 Ellen Calmas Board Member (AS OF 03/18) 2.0 0.0 X 0 0 0 Dan Cohen Board Member 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 Mark 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 Namm Spencer Board Member 2.0 0.0 X 0 0 0 M Lee Pelton President/Trustee 40.0 0.0 X X 780218 0 149238 MichaelE Whelan Provost & VP for Academic Aff. 40.0 0.0 X 300490 0 24803 Christine Hughes VP & General Counsel and Clerk 40.0 0.0 X 255986 0 25413 Maureen Murphy VP for Admin & Finance 40.0 0.0 X 352417 0 49971 Ruthanne Madsen VP for Enrollment Management 40.0 0.0 X 213346 0 13893 Arthur Mombourquette SR. Assoc. VP for Real Estate 40.0 0.0 X 294898 0 26683 Ronald Korvas VP for Inst. Advancement 40.0 0.0 X 403243 0 42498 William Gilligan VP for Information Technology 40.0 0.0 X 257602 0 21953 Allison Sampson VP & Exe. Dir., L.A. program 40.0 0.0 X 265748 0 26011 Marc Miller Associate VP for Finance 40.0 0.0 X 263853 0 21768 3387801 0 402231 172 false true false Elkus Manfredi Architects Ltd 25 Drydock Avenue BOSTON MA 02110 ARCHITECTURAL 2899634 Prospect Building Services Corporat 360 Pearl Street MALDEN MA 02148 CLEANING SERVICES 1022514 Bennett Communications Inc 1 Bennett Lane QUINCY MA 02169 TELECOMMUNICATIONS 384615 Connelly Partners LLC 46 Waltham Street BOSTON MA 02118 MARKETING 342582 Ernst Young LLP PO Box 91251 CHICAGO IL 60693 ACCOUNTING 313753 34 64595 4002573 6377726 526483 10444894 TUTION & FEES 611710 188047563 188047563 ROOM & BOARD 611710 32685702 32685702 AUXILIARY - OTHER 611710 330265 330265 BOOKSTORE COMMISSION 611710 109674 109674 221173204 3676306 3676306 0 2608366 2608366 666967 1739644 -1072677 0 -1072677 -1072677 34061000 21383 30314096 3746904 21383 3768287 3768287 79060 64595 239500 -160440 -160440 0 0 0 0 0 0 THEATER REVENUE 531390 2375399 493535 1881864 SUMMER CONFERENCES 531390 789637 415563 374074 MISCELLANEOUS 611710 2709044 2709044 5874080 246312020 224791346 2255938 8819842 0 43052246 43052246 1304019 1304019 0 2424459 1880863 336896 206700 47015 47015 76473062 61778073 11018519 3676470 5572642 4493642 804890 274110 9616826 8058156 1443357 115313 5398722 4353397 779770 265555 0 1278407 1278407 265382 265382 0 0 406951 406951 4724719 3991053 714867 18799 1845115 1562707 279908 2500 4336489 3270050 585723 480716 2605472 2162088 387268 56116 0 8501954 6786463 1215574 499917 4706090 3853911 690303 161876 0 432798 341414 61153 30231 13482072 11434036 2048036 0 21367406 18118030 3249376 3306389 2807616 498773 OUTSIDE SVCS & TEMP HELP 8901740 7549494 1352246 FOOD SERVICES 7953337 6628533 1187286 137518 RENOVATIONS & MAINTENANCE 7670914 7095678 575236 ROOM AND BOARD 1137189 1137189 5096333 4022139 430619 643575 241907748 205680797 29657555 6569396 X 7579 10470 75398272 66112120 3790457 5824350 594279 994833 0 0 0 0 2557723 2415219 0 0 2597430 3897485 908420849 258329018 569079001 650091831 161631329 172157041 196411304 133077082 0 0 0 0 675335 747484 1012742709 1035327915 28920271 31433745 0 0 16477123 15263436 524908077 555302020 0 0 0 0 0 0 0 0 1636711 1636711 571942182 603635912 X 405631527 392981127 8533000 9066917 26636000 29643959 440800527 431692003 1012742709 1035327915 X 4404272 5745243 -19258039 X false true X true true true X 5278420 9321951 7592129 7698561 10444894 40335955 0 0 5278420 9321951 7592129 7698561 10444894 40335955 8306322 32029633 2284893 6627339 6312092 6617011 6951639 28792974 0 137033 43286 197241 77195 79060 533815 69662744 1027473253 0.45978 0.49696 X 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. 161079646 2599143 12186354 4231254 171633889 144194527 4031000 16915119 4061000 161079646 149219391 2548023 -3660131 3912756 144194527 146174009 7028768 -175992 3807394 149219391 127945924 2217617 19228787 3218319 146174009 0.79880 0.14950 0.05170 false false 76843446 76843446 671439731 193527345 477912386 5299978 2214392 3085586 66724306 62587281 4137025 88113388 88113388 650091831 FUNDS HELD BY BOND TRUSTEE 133077082 F 133077082 0 REFUNDABLE ADVANCES GOVT GRANT 1636711 1636711 X 190015153 5745243 1979145 7724388 182290765 406951 63614304 64021255 246312020 199123677 1979145 1979145 197144532 406951 44356265 44763216 241907748 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 BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND 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 1,739,644 FUNDRAISING EXPENSES 239,501 ------------- TOTAL 1,979,145 SCHEDULE D, PART XI, LINE 4b STUDeNT AID-EMERSON SCHOLARSHIPS 41,358,847 STUDENT AID GRADUATE TUITION REIMBURSEMENT 2,997,418 loss on debt defeasance 19,258,039 ------------- TOTAL 63,614,304 ------------- SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSES 1,739,644 FUNDRAISING EXPENSES 239,501 ------------ TOTAL 1,979,145 ------------ SCHEDULE D, PART XII, LINE 4b STUDeNT AID-EMERSON SCHOLARSHIPS 41,358,847 STUDENT AID GRADUATE TUITION REIMBURSEMENT 2,997,418 ------------- TOTAL 44,356,265 ------------- 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 17 Program Services Semester abroad class 2503333 Central America and the Caribbean Investments 15564893 Europe (Including Iceland and Greenland) Grantmaking 1304019 1 17 1 17 19372245 19372245 Emerson College Funded Scholarships Europe (Including Iceland and Greenland) 141 1290769 State Scholarships Europe (Including Iceland and Greenland) 9 13250 true 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 EDUCATION 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 MAKE TRANSFERS TO OR GENERATE OWNERSHIP INTERESTS 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 119000 61650 57350 3270 18989 9344 7303 ALUMNI REUNION 24655 2945 21710 1729 123235 5300 70330 0 143655 64595 79060 4999 18989 132579 5300 77633 239500 -160440 true Emerson College Funded Scholarships 2800 42625433 FMV State Scholarships 205 426683 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 EDUCATION 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 true false false false false false false true false M Lee Pelton President/Trustee 701096 0 0 0 79122 0 24300 0 124938 0 929456 0 0 0 MichaelE Whelan Provost & VP for Academic Aff. 298972 0 0 0 1518 0 15750 0 9053 0 325293 0 0 0 Christine Hughes VP & General Counsel and Clerk 222826 0 30000 0 3160 0 11786 0 13627 0 281399 0 0 0 Maureen Murphy VP for Admin & Finance 347269 0 0 0 5148 0 18375 0 31596 0 402388 0 0 0 Ruthanne Madsen VP for Enrollment Management 212660 0 0 0 686 0 11293 0 2600 0 227239 0 0 0 Arthur Mombourquette SR. Assoc. VP for Real Estate 292318 0 0 0 2580 0 0 26683 0 321581 0 0 0 Ronald Korvas VP for Inst. Advancement 304556 0 20000 0 78687 0 16275 0 26223 0 445741 0 0 0 William Gilligan VP for Information Technology 250714 0 0 0 6888 0 17543 0 4410 0 279555 0 0 0 Allison Sampson VP & Exe. Dir., L.A. program 259136 0 0 0 6612 0 13802 0 12209 0 291759 0 0 0 Marc Miller Associate VP for Finance 179001 0 0 0 84852 0 10382 0 11386 0 285621 0 0 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 YEAR ENDED JUNE 30, 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. 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 2017. THE ASSOCIATE VP FOR FINANCE RECEIVED A SEVERANCE PAYMENT OF $65,917 DURING CALENDAR YEAR 2017. THIS AMOUNT IS INCLUDED AS TAXABLE COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN B(III). SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS During calendar 2017, Christine Hughes received a merit bonus based on performance at the direction of the president in the amount of $30,000. Additionally, Ronald Korvas received a retention bonus in accordance with his employment agreement in the amount of $20,000. 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 11110000 114660000 124760655 0 0 0 941526 0 0 109067272 14751857 0 2012 true false true true B 0 52400000 55463072 0 4837952 0 621432 0 0 50003688 4837952 0 2014 false false true true C 0 0 143055842 0 7468507 0 892053 0 0 77471533 64692256 0 2017 false true true true D 0 0 204166939 0 15397662 0 1185722 0 0 182105940 15681217 5194060 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 true false false false false 0 false 0 false true B false true false false 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. 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 0 846841 0 0 0 111582582 0 2017 false true true true B 0 0 62717607 0 0 0 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 false false false 0 false 0 false true A true B true C true Jordan C Wilson Pelton DAUGHTER OF BOARD MEMBER 46021 emerson employee false X 7 526483 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. 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, 2018, TRUSTEES VINCENT J. DI BONA AND GARY GROSSMAN HAD A BUSINESS RELATIONSHIP WITH ONE ANOTHER. 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 2016, 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), CONFLICT OF INTEREST POLICY AND ITS FINANCIAL STATEMENTS ON THE COLLEGE'S WEBSITE. PRIOR PERIOD ADJUSTMENT FORM 990, PART X, LINES 27 AND 29 DURING THE YEAR JUNE 30, 2018 THE COLLEGE IDENTIFIED $700,000 OF ENDOWED GIFTS RECEIVED PRIOR TO JUNE 30, 2016 PREVIOUSLY CLASSIFIED AS PERMANENTLY RESTRICTED THAT SHOULD HAVE BEEN CLASSIFIED AS SIMULTANEOUSLY RELEASED TEMPORARILY RESTRICTED GIFTS. THE UNRESTRICTED NET ASSETS BALANCE FOR THE YEAR ENDED JUNE 30, 2017, HAS BEEN UPDATED TO $406,331,000 FROM $405,631,000, AND THE PERMANENTLY RESTRICTED NET ASSETS BALANCE FOR THE YEAR ENDED JUNE 30, 2017, HAS BEEN UPDATED TO $25,936,000 FROM $26,636,000 TO INCORPORATE THIS REVISION. form 990, part xi, line 9 loss on debt defeasance (19,258,039)