2019-05-15T15:03:23-05:00 2018-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2017-07-01 042103542 AMHERST COLLEGE TRUSTEES % Stephen Nigro AMHE 4135422101 PO Box 5000 Controllers Office Amherst MA 01002 KEVIN WEINMAN Chief Fin & Admin 4135422101 2019-05-14 true SHY JOSEPH P01085371 6179881000 2019-05-13 167.68.102.5 04502320191355000030 2019-05-15 P 2613B1AB8C15F9A33FC01311C842B6763530F59B 80CA6C2FBD69822664E77D031A6A7395B734FA74 2017 2019-02-21 02:37:17Z Carolyn Martin PO Box 5000 Amherst MA 01002 983565579 false X www.amherst.edu X 1821 MA Amherst College educates men and women of exceptional potential from all backgrounds so that they may seek, value and advance knowledge, (continued on Schedule O) 23 22 3425 3800 -4414114 -7585010 48087674 115157484 120759113 126562829 147795449 168231588 5101298 3839220 321743534 413791121 56307340 59143318 0 0 124522532 128356070 0 180345 9754524 118050415 124920988 298880287 312600721 22863247 101190400 3714434448 3963621671 657181014 641692291 3057253434 3321929380 X Amherst College educates men and women of exceptional potential from all backgrounds so that they may seek, value and advance knowledge, (continued on Schedule O) false false 220294923 57644628 126840995 Higher Education: Undergraduate Education Amherst College is an undergraduate institution with an approximate student enrollment of 1,800. 15709124 861272 3641585 Home to the world's largest Shakespeare collection, the Folger Shakespeare Library is a major center for scholarly research; a lively venue for performances, readings, exhibitions; and a national leader in humanities education. 236004047 true true false true false true false true true true true true false false true false false true true false true false true true true false false true true true true false false false false false true false false false false true true false false false true true true false true 2671 0 true 3425 true true true false false false false true true false false false false X 23 22 true false false false false false false true true false false false true true true true true true false false MA X Stephen Nigro 4135422101 PO Box 5000 Controllers Office Amherst MA 01002 X Theodore W Beneski Trustee 5.0 0.0 X 0 0 0 Jeffery L Bleich Trustee 5.0 0.0 X 0 0 0 Rafael Campo Trustee 5.0 0.0 X 0 0 0 Patrick Fitzgerald Trustee 5.0 0.0 X 0 0 0 Susannah R Grant Trustee 5.0 0.0 X 0 0 0 Douglas C Grissom Trustee 5.0 0.0 X 0 0 0 Phillip A Jackson Trustee 5.0 0.0 X 0 0 0 Arthur W Koenig Trustee 5.0 0.0 X 0 0 0 Simon C Krinsky Trustee 5.0 0.0 X 0 0 0 Kimberlyn R Leary Trustee 5.0 0.0 X 0 0 0 Christopher S Lehane Trustee 5.0 0.0 X 0 0 0 John S Middleton Trustee 5.0 0.0 X 0 0 0 Cullen Murphy Trustee/Chair 5.0 0.0 X 0 0 0 Andrew J Nussbaum Trustee 5.0 0.0 X 0 0 0 Dwight M Poler Trustee 5.0 0.0 X 0 0 0 Joseph F Quinn Trustee 5.0 0.0 X 0 0 0 Sarah Bloom Raskin Trustee 5.0 0.0 X 0 0 0 Christine Noyer Seaver Trustee 5.0 0.0 X 0 0 0 Paul M Smith Trustee 5.0 0.0 X 0 0 0 David A Sutphen Trustee 5.0 0.0 X 0 0 0 Shirley M Tilghman Trustee 5.0 0.0 X 0 0 0 Laura J Yerkovich Trustee 5.0 0.0 X 0 0 0 Carolyn Martin President 40.0 0.0 X X 1302640 0 136839 Stephen Nigro Controller 40.0 0.0 X 124710 0 19085 Bett K Schumacher Chief of Staff/Sec of Trustees 40.0 0.0 X 114111 0 11281 Kevin Weinman Chief Fin and Admin Officer 40.0 0.0 X 344446 0 61870 Michael Witmore Folger Director 40.0 0.0 X 403968 0 42168 James Brassord Chief of Campus Operations 40.0 0.0 X 253655 0 38649 Suzanne Coffey Chief of Student Affairs 40.0 0.0 X 317741 0 55497 Catherine Epstein Dean of Faculty 40.0 0.0 X 277483 0 67610 Katherine Fretwell Dean of Admiss & Fin Aid 40.0 0.0 X 204800 0 34461 Mauricia Geissler Chief Investment Officer 40.0 0.0 X 434934 0 60126 Lisa Rutherford Chief Policy Off/Gen Counsel 40.0 0.0 X 319761 0 60460 Gregory Call Professor of Mathematics 40.0 0.0 X 289074 0 40818 John Cheney A. Dean of Fac/Prof of Geology 40.0 0.0 X 261713 0 53760 Gretchen Dwyer Exec Director of Development 40.0 0.0 X 304161 0 59879 Sandra Genelius Chief COmmunications Officer 40.0 0.0 X 256563 0 23050 Austin Sarat A. Dean of Fac/Prof of Pol Sci 40.0 0.0 X 368288 0 72838 Susan Pikor Fmr Chief of Staff 0.0 0.0 X 191163 0 31885 Charri Boykin-East FMR Sr. A. Dean of Students 0.0 0.0 X 155069 0 55335 Allen Hart FMR Dean of Students 0.0 0.0 X 202283 0 54117 Elizabeth Anema FMR ED of Alum/Par Prog & Giv. 0.0 0.0 X 335682 0 0 6462245 0 979728 211 true true false Barr Barr Inc 24 Prime Parkway 301 NATICK MA 02139 Construction Service 86024056 Sequoia Capital 3000 Sand Hill Road WEST MENLO PARK CA 94025 Investment Manager 2365362 Greenhaven Associates 3 Manhattanville Road 102 PURCHASE NY 10577 Investment Manager 2338201 The Baupost Group LLC 10 Saint Avenue Suite 1700 BOSTON MA 02116 Investment Manager 2310647 Payette Associates Inc 290 Congress Street BOSTON MA 02210 Architecture Service 2013388 102 406689 3060771 111690024 7187295 115157484 Tuition and Other Student Fees 611310 96306083 96306083 Room & Board 721000 24764607 24764607 BOX OFFICE/EVENTS 711130 2155134 2150338 4796 SUMMER CONFERENCES 611710 1351483 1503299 -151816 DINING SERVICES 611600 701338 701338 1284184 1284184 126562829 20428621 -8573142 29001763 0 359026 359026 1207162 1160023 47139 0 47139 47139 716266371 568463404 147802967 147802967 4306048 143496919 70500 406689 151031 -80531 -80531 0 0 0 0 0 0 OTHER REVENUE 900099 3513586 3513586 3513586 413791121 130629600 -4414114 172418151 232309 232309 58505900 58505900 405109 405109 0 4629098 1565207 2580800 483091 259041 259041 94036130 79900383 9923317 4212430 8008986 6550463 1067535 390988 14615074 12450336 1496155 668583 6807741 5567977 907419 332345 0 967162 10070 955501 1591 352123 352123 6667 6667 180345 180345 38380951 38380951 7421249 3598667 2663491 1159091 1701252 960533 220394 520325 3614902 2883853 476891 254158 3268527 2185794 1081768 965 112177 112177 8413009 7952997 363897 96115 2709359 2228652 330094 150613 0 3014469 2221139 558672 234658 13333359 11276022 1810457 246880 0 15467133 14578098 738222 150813 1758281 1644181 84078 30022 Equipment and Vehicles 5192636 4156250 685627 350759 Food 4500142 4499493 601 48 Library Books 2904519 2904172 265 82 Sponsored Research 4229424 4229424 7573647 5378174 1904851 290622 312600721 236004047 66842150 9754524 100855547 51199599 321653769 203934115 34733843 97133880 4415460 8300102 970357 901786 0 0 8245552 8056428 411426 362018 4560947 4941725 913025568 284518569 524989793 628506999 313494650 327827798 2355682996 2586688643 1688752 1527168 0 0 42731356 44241410 3714434448 3963621671 28468709 39631928 0 0 2899800 1604835 163919000 146145000 822291 873214 0 0 334707235 332501320 0 0 126363979 120935994 657181014 641692291 X 1063694637 1187467880 1469326977 1593514782 524231820 540946718 3057253434 3321929380 3714434448 3963621671 X 101190400 150889973 12595573 X false true X true true true X 45200548 41713046 52426790 48087674 115157484 302585542 0 0 45200548 41713046 52426790 48087674 115157484 302585542 41843640 260741902 54520333 31957072 33136003 19632153 30567951 169813512 0 6524830 4560496 2675262 4182117 3513586 21456291 493855345 585442156 0.52797 0.46280 X false false false false false true 6667 false false true 0 6667 false Schedule C, Part II-B, Line 1 The Trustees of Amherst College paid McDermott Will & Emery LLP $6,667 on behalf of the Folger Shakespeare Memorial Library for lobbying activities during its fiscal year ended June 30, 2018. In addition, Amherst College pays membership fees in various organizations that may perform a limited amount of lobbying activities such as NAICU-National Association of Independent Colleges and Universities, AICUM-Association of Independent Colleges and Universities in Massachusetts and COFHE-Consortium on Financing Higher Education. 1 165426 true true X X X X false false true X 2582167326 9539445 318881870 25705466 113534651 40890814 2730457710 2335038930 6721042 419631696 24367889 116430860 38425593 2582167326 2522356738 9541532 -47269906 24194082 88159138 37236214 2335038930 2472706177 10416616 180976931 22364769 83660765 35717452 2522356738 2105519441 34254078 468227787 20877097 70301497 44116535 2472706177 0.26228 0.72626 0.01146 false false 8432348 8432348 770621468 170997610 599623858 107896211 96459906 11436305 26075541 17061053 9014488 628506999 GLOBAL EQUITIES 308854736 F FIXED INCOME 10755224 F FOREIGN EQUITIES 404264445 F PRIVATE EQUITIES 779659968 F ABSOLUTE RETURN 812362834 F R. ESTATE & NATURAL RESOURCES 255130293 F DOMESTIC EQUITIES 3794664 F OTHER SECURITIES 11866479 F 2586688643 0 LIAB. FOR LIFE INCOME OBLIGATION 36753135 POST RET. BENEFIT OBLIGATION 65663963 INTEREST SWAP AGREEMENT 9875892 ASSET RETIREMENT OBLIGATIONS 3515363 OTHER LIABILITIES 5127641 120935994 X Schedule D, Part III, Lines 1 & 4 The Trustees of Amherst College does not capitalize gifts in kind of art, historical treasures or other similar assets held for public exhibition, etc. The Folger Shakespeare Memorial Library (The Library), does capitalize purchases to its collection which is recorded at cost. The Folger Shakespeare Memorial Library holds the largest and most complete collection of Shakespeareana in the world and the largest collection of English printed books from 1475 to 1640 outside of England, as well as extensive Continental Renaissance holdings. The collection includes books, manuscripts, documents, paintings, illustrations, tapestries, furnishings, musical instruments, scores, and curios from the Renaissance and theater history. The Emily Dickinson Museum consists of two historic houses and their contents, in the center of Amherst, Massachusetts, closely associated with the poet Emily Dickinson and members of her family during the ninteenth centuries. The Mead Art Museum creates innovative and rigorous exhibitions from its diverse collection of 19,500 works including American art, Russian modernist art, French art, British portraiture, African art, Japanese art, 19th and 20th century photography, and master and modern prints and drawings. Over 150 Amherst College classes visit the Mead's two study rooms annually to learn from original works of art. The Beneski Museum of Natural History houses research collections of vertebrate and invertebrate paleontology, minerals, anthropology and modern vertebrates, as well as numerous exhibits which illustrate the evolution and ecology of major groups of animals. The College and the Library maintain policies and procedures addressing the collections' upkeep as well as other aspects of their management, including accession and deaccession policies. Schedule D, Part IV, Line 2b The Trustees of Amherst College serves as the custodian of funds owned by certain student groups. Schedule D, Part V, Line 4 The mission of the Trustees of Amherst College's endowment is to provide financial support in order that the College may provide a quality education to all admitted students as articulated in the mission statement of Amherst College. The endowment is managed for the purpose of ensuring the current and future spending requirements are supported, while also preserving the endowment fund in perpetuity. The endowment funded a substantial portion of operating revenue in this tax year. The endowment distribution is used for such purposes as financial aid, named professorships, faculty and student research, academic support, scientific equipment, athletics, internships, and fellowships/prizes. Schedule D, Part X, Line 2 The Institution is generally exempt from federal and state income taxes. Management performs an annual review for uncertain tax positions along with any related interest and penalties. Management beleives that the Institution has no uncertain tax positions that would have a material adverse effect, individually or in the aggregate, upon the Institution's Balance Sheet or the related Statement of Activities or Cash Flows. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 The following statement is in (1) the College's annual catalog, (2) admission application, (3) yearly admission report sent to all secondary schools and (4) the brochure "This is Amherst" describing the College to all interested parties: Amherst College does not discriminate in its admission or employment policies and practices on the basis of factors such as race, genetics, gender identity or gender expression, sex, sexual orientation, age, color, religion, national origin, disability, or veteran status. Schedule E, Part I, Line 6a The Trustees of Amherst College receives federal grants for research, etc. and is a pass through entity for certain federal and state financial aid. true North America Program Services Travel & Related Exp. 256694 Central America and the Caribbean Program Services Travel & Related Exp. 36117 East Asia and the Pacific Program Services Travel & Related Exp. 786604 Europe (Including Iceland and Greenland) Program Services Travel & Related Exp. 556045 Middle East and North Africa Program Services Travel & Related Exp. 27299 Russia and the Newly Independent States Program Services Travel & Related Exp. 280 Sub-Saharan Africa Program Services Travel & Related Exp. 47799 South America Program Services Travel & Related Exp. 17044 South Asia Program Services Travel & Related Exp. 51806 Central America and the Caribbean Investments 1105621972 Sub-Saharan Africa Investments 29939316 Europe (Including Iceland and Greenland) Investments 20611563 Central America and the Caribbean Investments Investment Mgmt. Fees 15005483 Sub-Saharan Africa Investments Investment Mgmt. Fees 240680 Europe (Including Iceland and Greenland) Investments Investment Mgmt. Fees 663167 North America Grantmaking EDUCATIONAL AWARDS 46465 Central America and the Caribbean Grantmaking EDUCATIONAL AWARDS 2250 East Asia and the Pacific Grantmaking EDUCATIONAL AWARDS 26114 Europe (Including Iceland and Greenland) Grantmaking EDUCATIONAL AWARDS 325750 Sub-Saharan Africa Grantmaking EDUCATIONAL AWARDS 4530 1173910584 356394 1174266978 Educational Awards North America 7 46465 Wire Educational Awards Central America and the Caribbean 1 2250 Wire Educational Awards East Asia and the Pacific 5 16557 Wire 9557 HOUSING Educational Awards Europe (Including Iceland and Greenland) 30 325750 Wire Educational Awards Sub-Saharan Africa 1 4530 Wire true false true true true true Schedule F, Part I, Line 2 Disbursements in furtherance of the institution's exempt programs are made in accordance with procedures or subject to conditions established by the institution's governing board designed to ensure that individuals and organizations receiving disbursements from the institution in furtherance of its exempt purpose are adequately investigated to ensure that they are qualifying recipients. Students receiving scholarships and fellowships are considered worthy by the institution on the basis of criteria such as academic achievement (fellowships) and financial need (scholarships and fellowships). Schedule F, Part I, Line 3, Column f & Part III Expenses reported are derived from Amherst's books and records, which are maintained on an accrual basis. X X X X X X X true REICHENBACK CONSULTING LLC 1 TYLER ROAD ITHACA NY 14850 FUNDRAISING ADVICE false 0 180345 0 0 180345 0 DC MA Folger Gala 394514 352514 42000 48874 24341 34003 Folger Night 35521 35521 1146 6000 3 47154 18654 28500 8792 6983 20892 477189 406689 70500 58812 31324 60895 151031 -80531 true Amherst Business Improvement District PO Box 339 Amherst MA 01002 455423811 501(c)(6) 20000 Support Operations Town of Amherst 4 Boltwood Avenue Amherst MA 01002 046001068 Gov. Entity 80000 Support Town Budget New England Public Radio 131 Country Circle Amherst MA 01002 046103523 501(c)(3) 11543 Support of Public Radio Woodside Children's Center 156 Woodside Avenue Amherst MA 01002 042888548 501(c)(3) 68543 37461 FMV Occupancy and Exp Support Organizations 3 1 Undergraduate Research and Internships 380 1479154 160782 FMV HOUSING Undergraduate Awards and Prizes 137 191223 Graduate Followships 175 1049627 Post Baccalaureate Fellowships 4 10801 44170 FMV HOUSING Grants Awarded to Highschool Teachers 16 51975 Grant-In Aid 94 822433 Undergraduate Amherst College Scholarships 1088 53834463 Folger Shakespeare Memorial Library Fellowship Awd 238 782434 78838 FMV Housing Schedule I, Part I, Line 2 Disbursements in furtherance of the institution's exempt programs are made in accordance with procedures or subject to conditions established by the Institution's governing board designed to ensure that individuals and organizations receiving disbursements from the institution in furtherance of its exempt purpose are adequately investigated to insure that they are qualifying recipients. Students receiving scholarships and fellowships are judged worthy by the institution on the basis of criteria such as academic achievement (fellowships) and financial need (scholarships and fellowships). X X X X X true true X X X true false false false false false false true false Carolyn Martin President 694492 0 608148 61935 74904 1439479 523500 Susan Pikor Fmr Chief of Staff 189293 1870 21060 10825 223048 Kevin Weinman Chief Fin and Admin Officer 342768 1678 35085 26785 406316 Michael Witmore Folger Director 402469 1499 35695 6473 446136 James Brassord Chief of Campus Operations 251953 1702 29014 9635 292304 Suzanne Coffey Chief of Student Affairs 305168 12573 31611 23886 373238 Catherine Epstein Dean of Faculty 275419 2064 31475 36135 345093 Katherine Fretwell Dean of Admiss & Fin Aid 203464 1336 23460 11001 239261 Mauricia Geissler Chief Investment Officer 432096 2838 36086 24040 495060 Lisa Rutherford Chief Policy Off/Gen Counsel 318341 1420 33713 26747 380221 Elizabeth Anema FMR ED of Alum/Par Prog & Giv. 335682 0 0 335682 Gregory Call Professor of Mathematics 287101 1973 29444 11374 329892 John Cheney A. Dean of Fac/Prof of Geology 256827 4886 30137 23623 315473 Gretchen Dwyer Exec Director of Development 271136 33025 35815 24064 364040 Sandra Genelius Chief COmmunications Officer 254979 0 1584 0 23050 279613 Austin Sarat A. Dean of Fac/Prof of Pol Sci 359243 9045 33107 39731 441126 Charri Boykin-East FMR Sr. A. Dean of Students 147736 7333 17034 38301 210404 Allen Hart FMR Dean of Students 200861 1422 23759 30358 256400 Schedule J, Part I, Line 1a The President is required to maintain a personal residence on campus as a condition of employment for the convenience of the employer. Certain personal services are provided to maintain this residence. Occasional personal services provided to the President are considered personal expenses and added to the President's taxable compensation including the value of the related tax liability. In accordance with Amherst's Travel Policy, first class air travel is permitted for a bonafide business purposes for the President and staff. In addition, the President and other employees have travelled by charter service per the terms of a restricted gift that is specifically designed for certain travel locations that lack direct and frequent flights. These expenses are reviewed and monitored by personnel in the Chief Financial Officer's Office. Schedule J, Part I, Line 4a Elizabeth Anema received a $335,682 payment. Schedule J, Part I, Line 7 TO RECRUIT QUALIFIED TALENT, MANAGEMENT, FROM TIME TO TIME, MAY USE INCENTIVE COMPENSATION. Schedule J, Part II Included in Part II, Column B(iii) for Carolyn Martin is deferred compensation paid during the calendar year and earned over a five year vesting period. The portion recorded in Column F represents the contributions made and reported in prior years that is included in the Column B reported amount. A MHEFA Series H 042456011 57585K4R6 2003-06-26 50000000 Construction false false false B MHEFA Series J 042456011 57586CHB4 2005-06-30 50000000 Construction false false false C MHEFA Series K-2 042456011 57586EDKA 2009-01-15 50520000 Construction false false false D MHEFA Series I 042456011 57586CHB4 2005-06-30 29700000 Advanced Refunding of Series G false false false A 25575000 0 50749858 0 0 0 400000 0 0 50349858 0 0 2005 false false true true B 0 0 50442362 0 0 0 609605 0 0 49832757 0 0 2007 false false true true C 4850000 0 50646531 0 0 0 518773 0 0 50127758 0 0 2011 false false true true D 6300000 0 29700000 0 0 0 281717 0 0 29418283 0 0 2005 false true true true A false false true true false 0 0.01700 0.01700 false false false true B false false true true false 0 0.01200 0.01200 false false false true C false false false false 0 0.01300 0.01300 false false false true D 0 A false false false true true false 0 false 0 false true B false false false true true true BofA Merrill Lynch 18. true false false 0 false true C false false false true true false 0 false 0 true true D false false false true true true BofA Merril Lynch 12. true false false 0 false true A true B true C true D true Schedule K, Part II, Line 3 The difference between total proceeds reported on Part II, Line 3 and the issue price reported on Forms 8038 is due to investment earnings on the bonds. Schedule K, Part IV, Line 2C 06/26/2003 50,000,000 MHEFA SERIES H - SERIES H MOST RECENT REQUIRED REBATE COMPUTATION PERFORMED 6/30/2017. 06/30/2005 50,000,000 MHEFA SERIES J - SERIES J MOST RECENT REQUIRED REBATE COMPUTATION PERFORMED 6/30/2014. 01/15/2009 50,520,000 MHEFA SERIES K-2 - SERIES K-2 MOST RECENT REQUIRED REBATE COMPUTATION PERFORMED 10/31/2016, FOR REISSUANCE IN BANK PURCHASE MODE. 06/30/2005 29,700,000 MHEFA SERIES I - SERIES I MOST RECENT REQUIRED REBATE COMPUTATION PERFORMED 6/30/2014. 01/15/2009 7,580,224 MHEFA SERIES K-1 - SERIES K-1 MOST RECENT REQUIRED REBATE COMPUTATION PERFORMED 1/15/2014. A MHEFA Series K-1 042456011 57586EDK4 2009-01-15 7580224 Refunding Series G false false false A 4520000 0 7580224 0 0 0 0 0 0 7580224 0 0 2004 true false true true A 0 A false false false true false false 0 false 0 false true A true Lisa Rutherford Key Employee Mortgage X 30000 8572 false true true Kevin Weinman Officer Mortgage X 30000 13214 false true true Michael Witmore Officer Mortgage X 1240000 880000 false true true 901786 X 15 0 X 0 X 217 7187295 FMV X 1 0 X Academic License 1 0 0 X Wine Collection 1 0 0 X Private Home Reception 1 0 0 X Clothing 1 0 0 X Web Domain Name 1 0 0 false true false Schedule M, Part I, Column b The Trustees of Amherst College reports the number of contributions in Part I, Column b. Mission Statement Form 990, Part I, Line 1 & Part III, Line 1 engage the world around them, and lead principled lives of consequence. Amherst brings together the most promising students, whatever their financial need, in order to promote diversity of experience and ideas within a purposefully small residential community. Working closely with faculty, staff and administrators dedicated to intellectual freedom and the highest standards of instruction in the liberal arts, Amherst undergraduates assume substantial responsibility for undertaking inquiry and for shaping their education within and beyond the curriculum. Amherst College is committed to learning through close colloquy and to expanding the realm of knowledge through scholarly research and artistic creation at the highest level. Its graduates link learning with leadership - in service to the College, to their communities, and to the world beyond. Form 990, Part I, Line 7B Unrelated Business Taxable Income From Form 990-T The amount reported on Part I, Line 7b includes certain fringe benefit expenses considered unrelated business taxable income under IRC Section 512(A)(7). These amounts are not revenue and, therefore, not reported as such on Form 990, Part VIII. Form 990, Part VI, Line 2 John Middleton and Susan Pikor are Board Members and Stephen Nigro, Kevin Weinman, James Brassord and Lisa Rutherford are officers of Amherst Inn Company. Form 990, Part VI, Line 11b The Trustees of Amherst College members of the Board of Trustees were provided a full copy of Form 990 prior to filing, with the exception of Schedule B in order to respect the wishes of the donors that gave gifts with the assumption of remaining anonymous. The review of Schedule B was conducted by the Audit Committee, Chairman of the Board of Trustees and the President of the College. Form 990, Part VI, Line 12c All individuals covered by the policy complete a Conflict of Interest Disclosure Statement with the Secretary of the Board of Trustees (the "Secretary") annually. The Secretary accumulates all disclosure statements and furnishes a summary to the Conflict of Interest Review Committee. In all instances where the Conflict of Interest Review Committee determines that a conflict of interest does exist, such conflicts, and their remedy, are disclosed to the Board of Trustees at the next meeting. The Conflict of Interest Committee reports to the Board at least annually. Form 990, Part VI, Line 14 The College has a written document retention and destruction policy that was approved by the College's senior management. Approval of this policy is not required at the full Board of Trustees level. Form 990, Part VI, Line 15 The College participated in an annual survey of comparable institutions which compared historic salaries and designated benefits for the chief executive officer and senior administrative staff. The College's President reviewed with the Board of Trustees the relevant survey information as well as senior staff performance evaluations and discussed annual salary adjustments. The Board of Trustees delegated to an ad hoc Committee on Compensation, consisting of independent trustees, authority to determine the compensation of the President. As provided in the Compensation Policy for Designated Individuals approved by the Board in May 2012, the Committee on Compensation reviewed the relevant survey information, conducted an annual evaluation of the President, determined the President's compensation and contemporaneously documented its decision. The Committee on Compensation shared its findings and compensation decision with the Board of Trustees. Form 990, Part VI, Line 19 The Trustees of Amherst College makes its annual financial statements available on its website and mails it to certain interested third parties. The conflict of interest policy is also available on the website. Form 990, Part XI, Line 9 Change in Net Value of Life Income Funds $ 3,568,907 Change in Post Retirement Benefit Obligation $ 6,610,359 Unrealized Swap Gain $ 2,416,307 Total $ 12,595,573 Amherst College Foundation Trust JPM Svcs Inc PO Box 6089 Newark DE 197146089 516522862 Support NY 501(C)(3) PF Amherst true AC Harry Elwin Harkness Class of 1898 PNC Bank NA 620 Liberty Ave Pittsburgh PA 152222705 222891327 Support PA 501(C)(3) 12 III-FI Amherst true Associated Kyoto Program Inc Controllers Office Smith College Northampton MA 01063 042996114 Support MA 501(C)(3) 12 III NA false Woodside Children's Center 155 Woodside Avenue Amherst MA 01002 042888548 Child Care MA 501(C)(3) 12 III-O Amherst true Amherst Inn Owner LLC 155 South Plesant Street Amherst MA 01002 Real Estate MA NA Amherst Inn Tenant LLC 156 South Plesant Street Amherst MA 01003 Nonres. Rental MA NA Amherst Inn Company-DE Amherst College 155 Pleasant Stree Amherst MA 01002 272334296 Real Estate DE Trustees of AC C Corp 5391974 16967362 1.00000 true Charitable Unitrusts - WA (1) PO BOX 5000 AMHERST MA 01002 Charitable Trust WA NA Trust true Charitable Unitrusts - PA (2) PO BOX 5000 AMHERST MA 01002 Charitable Trust PA NA Trust true Charitable Unitrusts - MA (3) PO BOX 5000 AMHERST MA 01002 Charitable Trust MA NA Trust true Charitable Unitrusts - CA (4) PO BOX 5000 AMHERST MA 01002 Charitable Trust CA NA Trust true Charitable Unitrusts - CT (5) PO BOX 5000 AMHERST MA 01002 Charitable Trust CT NA Trust true Charitable Unitrusts - FL (5) PO BOX 5000 AMHERST MA 01002 Charitable Trust FL NA Trust true Charitable Unitrusts - MI (1) PO BOX 5000 AMHERST MA 01002 Charitable Trust MI NA Trust true Charitable Unitrusts - GA (1) PO BOX 5000 AMHERST MA 01002 Charitable Trust GA NA Trust true Charitable Unitrusts - NY (3) PO BOX 5000 AMHERST MA 01002 Charitable Trust NY NA Trust true Charitable Unitrusts - NC (1) PO BOX 5000 AMHERST MA 01002 Charitable Trust NC NA Trust true Charitable Unitrusts - TX (1) PO BOX 5000 AMHERST MA 01002 Charitable Trust TX NA Trust true Charitable Unitrusts - NJ (2) PO BOX 5000 AMHERST MA 01002 Charitable Trust NJ NA Trust true Charitable Unitrusts - OH (3) PO BOX 5000 AMHERST MA 01002 Charitable Trust OH NA Trust true Charitable Unitrusts - MA (119) PO Box 5000 Amherst MA 01002 Charitable Trust MA NA Trust true Semper Vic Partners Offshore LTD 223 East Chestnut Street Lancaster PA 17602 Investments CJ NA C Corp 1588697 83922284 0.50000 true true true false true false false false false false true false false false false false false false false false Amherst College Foundation Trust a 750000 Cash AC Harry Elwin Harkness Class of 1898 a 65720 Cash Woodside Children's Center b 68543 Cash Amherst Inn Owner c 93252 Cash Amherst Inn Company-DE c 60000 Cash Amherst Inn Company-DE d 2958214 Cash Amherst Inn Owner d 6000000 Cash