2019-05-13T10:42:09-05:00 2018-06-30 410746749 CLIFTONLARSONALLEN LLP 300 CROWN COLONY DRIVE SUITE 310 QUINCY MA 02169 990 2017-07-01 030179593 MARLBORO COLLEGE MARL 8022517607 2582 SOUTH ROAD PO BOX A MARLBORO VT 05344 ROBERT WEBBER CFO 8022517607 2019-05-13 1 JUDY DALEY P01294075 6179848100 67.137.57.251 2019-05-13 10:13:43 ED P 9434206CF9E616DFA6493511BABFC6F852C175E8 40B1045984B6BD7CE0CB919AAE2F7A412AF27D98 2017 2019-02-21 02:37:17Z KEVIN FF QUIGLEY 2582 SOUTH ROAD PO BOX A MARLBORO VT 05344 24532949 0 X WWW.MARLBORO.EDU X 1946 VT TO PROVIDE RESPONSIVE, INNOVATIVE UNDERGRADUATE AND GRADUATE EDUCATION. 24 23 378 60 345846 109720 4284975 3982869 10749504 9218985 128455 1839468 342759 588391 15505693 15629713 5277558 5036883 0 0 8293858 7643139 0 0 415132 5761621 5713042 19333037 18393064 -3827344 -2763351 63153242 60514511 6045970 4059759 57107272 56454752 X PLEASE SEE SCHEDULE O FOR MARLBORO COLLEGE'S MISSION STATEMENT.THE GOAL OF THE UNDERGRADUATE PROGRAM AT MARLBORO COLLEGE IS TO TEACH STUDENTS TO THINK CLEARLY AND TO LEARN INDEPENDENTLY THROUGH ENGAGEMENT IN A STRUCTURED PROGRAM OF LIBERAL STUDIES. STUDENTS ARE EXPECTED TO DEVELOP A COMMAND OF CONCISE AND CORRECT ENGLISH AND TO STRIVE FOR ACADEMIC EXCELLENCE INFORMED BY INTELLECTUAL AND ARTISTIC CREATIVITY; THEY ARE ENCOURAGED TO ACQUIRE A PASSION FOR LEARNING, DISCERNING JUDGMENT AND A GLOBAL PERSPECTIVE. THE COLLEGE PROMOTES INDEPENDENCE BY REQUIRING STUDENTS TO PARTICIPATE IN THE PLANNING OF THEIR OWN PROGRAMS OF STUDY AND TO ACT RESPONSIBLY WITHIN A SELF-GOVERNING COMMUNITY.THE MISSION OF MARLBORO COLLEGE GRADUATE AND PROFESSIONAL STUDIES PROGRAM IS TO OFFER RESPONSIVE, INNOVATIVE EDUCATION OF THE HIGHEST STANDARD IN PROFESSIONAL STUDIES IN THE TOPIC AREAS OF MANAGEMENT, TECHNOLOGY, AND TEACHING. THE EDUCATIONAL PRACTICE OF THE GRADUATE PROGRAM FOSTERS THE DEVELOPMENT OF CRITICAL T 0 0 14389871 5036883 9470589 EDUCATION - LOCATED IN MARLBORO AND BRATTLEBORO, VERMONT, THE COLLEGE PROVIDES POST-SECONDARY UNDERGRADUATE LIBERAL ARTS STUDIES AND GRADUATE STUDIES IN MANAGEMENT, TECHNOLOGY AND TEACHING. 14389871 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 131 0 378 1 1 1 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 0 1 1 0 CA FL MA ME X X ROBERT WEBBER 8022517607 2582 SOUTH ROAD MARLBORO VT 05344 KEVIN F F QUIGLEY PRESIDENT 40.00 X X 235000 0 9210 RICHARD F SAUDEK CHAIR 5.00 X X 0 0 0 KIRSTEN A NEWCOMER VICE CHAIR 5.00 X X 0 0 0 JOHN W Y CHAN VICE CHAIR 5.00 X X 0 0 0 PHILIP H STECKLER TREASURER 5.00 X X 0 0 0 PETER H ZAMORE CLERK 5.00 X X 0 0 0 RODNEY BENT TRUSTEE 5.00 X 0 0 0 DENA S DAVIS TRUSTEE 5.00 X 0 0 0 KAREN DAVIS TRUSTEE 5.00 X 0 0 0 MICHAEL J DELAURENTIS TRUSTEE 5.00 X 0 0 0 J BARTON GOODWIN TRUSTEE 5.00 X 0 0 0 DONNA HEILAND TRUSTEE 5.00 X 0 0 0 AURTHUR HOLCOMBE TRUSTEE 5.00 X 0 0 0 WOLF KAHN TRUSTEE 5.00 X 0 0 0 PETER T MALLARY TRUSTEE 5.00 X 0 0 0 KIRSTEN MALONE TRUSTEE 5.00 X 0 0 0 HEATHERJEAN MACNEIL TRUSTEE 5.00 X 0 0 0 DEAN R NICYPER TRUSTEE 5.00 X 0 0 0 MARTA WILLGOOSE SALO TRUSTEE 5.00 X 0 0 0 D EDWARD SMYTH TRUSTEE 5.00 X 0 0 0 HONGPING TIAN TRUSTEE 5.00 X 0 0 0 SUSAN WEFALD TRUSTEE 5.00 X 0 0 0 MARA WILLIAMS TRUSTEE 5.00 X 0 0 0 EDWARD E WENDELL JR TRUSTEE 5.00 X 0 0 0 235000 0 9210 1 0 1 0 METZ AND ASSOCIATES LTD TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 702801 CHESAPEAKE ASSET MANAGEMENT LLC ONE ROCKEFELLER PLAZA NEW YORK NY 10020 INVESTMENT MANAGER 150794 2 74400 3908469 1559591 3982869 TUITION AND FEES 611310 7590187 7590187 AUXILIARY ENTERPRISES 611710 1628798 1628798 9218985 1167928 345867 822061 926584 589797 336787 336787 -21 336808 8768204 216775 8122164 191275 646040 25500 671540 671540 OTHER INCOME 900099 251604 251604 251604 15629713 9470589 345846 1830409 5036883 5036883 244210 244210 6001895 4314728 1516976 170191 129665 87264 38670 3731 852216 632935 202493 16788 415153 302330 100899 11924 152754 145370 7384 10865 2268 8597 93146 93146 100 100 383622 376620 7002 1103138 720616 306263 76259 129482 72793 55894 795 376047 251708 77999 46340 28245 7357 19566 1322 660036 462509 174156 23371 306447 260654 42684 3109 16878 13583 3295 26289 26289 883520 619090 238920 25510 231852 164187 61137 6528 FOOD EXPENSES 694710 694710 OTHER EXPENSES 430010 148866 263362 17782 SUPPLIES AND BOOKS 96217 96217 FUNCTION EXPENSE 89684 85204 4480 18393064 14389871 3588061 415132 1370095 353951 1937967 4164251 487704 10000 265799 232700 92823 102323 80550 81752 33757844 15400721 21988912 18357123 3498314 0 32916743 33684929 514335 3527482 63153242 60514511 1439658 985179 502416 460676 3890319 2388215 213577 225689 6045970 4059759 X 16483218 16656999 9568258 8736158 31055796 31061595 57107272 56454752 63153242 60514511 X -2763351 2135020 -24189 X 0 1 X 1 1 1 X 0 0 0 0 0 0 0 0 1 100 100 0 PART II-B, LINE 1: THE COLLEGE HAS PAID MEMBERSHIP DUES TO CERTAIN ORGANIZATIONS, AND A PORTION OF THE MEMBERSHIP DUES HAS BEEN ALLOCATED TO LOBBYING EXPENSES BY THE MEMBERSHIP ORGANIZATIONS. 37343600 5799 3568171 3297946 37619624 35109368 558763 4903756 3228287 37343600 39231836 65524 -687117 3500875 35109368 40420784 1372781 1727482 4289211 39231836 37168064 505057 5223639 2475976 40420784 0.00000 0.82570 0.17430 0 0 1491384 1491384 23382284 9121132 14261152 3542609 3422686 119923 5341567 2856903 2484664 18357123 ALTERNATIVE INVESTMENTS 33684929 C 33684929 INTEREST IN SPLIT-INTEREST AGREEMENTS 511764 ASSETS HELD FOR SALE 3015718 3527482 ENVIRONMENTAL REMEDIATION LIABILITY 183321 DISCOUNT FOR FUTURE INTEREST 42368 225689 X 12941027 2135020 589797 2724817 10216210 376620 5036883 5413503 15629713 13569358 589797 589797 12979561 376620 5036883 5413503 18393064 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES TO SUPPORT THE COLLEGE'S MISSION. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: THE COLLEGE IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE IRC. THE COLLEGE HAS ADOPTED A POLICY THAT CLARIFIED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO MATERIAL IMPACT ON THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE FILES AS A TAX EXEMPT ORGANIZATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES 589,797. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF SCHOLARSHIPS 5,036,883. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES 589,797. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF SCHOLARSHIPS 5,036,883. 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 NONDISCRIMINATION POLICY IS PUBLISHED IN THE COLLEGE CATALOGUE AND STUDENT HANDBOOK, AND WEBSITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL AND STATE GOVERNMENT GRANT MONEY. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 20328391 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 3383416 0 0 0 0 0 0 23711807 0 23711807 1 0 1 1 1 0 PART I, LINE 2: THE ORGANIZATION MAINTAINS RECORDS OF ITS FOREIGN ALTERNATIVE INVESTMENTS FUND WHICH IS PROFESSIONALLY MANAGED BY A THIRD PARTY. 1 SCHOLARSHIPS 213 5036883 FMV FINANCIAL AID PART I, LINE 2: THE STUDENTS MUST APPLY FOR THE GRANTS AND MEET THE REQUIREMENTS OF THE VARIOUS GRANTS. THE PROCESS BY WHICH EACH GRANT IS AWARDED AND MONITORED IS FORMALIZED IN A POLICY WHICH IS UPDATED BY THE DIRECTOR OF FINANCIAL AID. X X 0 0 0 0 0 0 0 0 0 KEVIN F F QUIGLEY PRESIDENT 205000 0 30000 0 0 0 9210 0 0 0 244210 0 0 0 X 4 1559591 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE WHICH CONSISTS OF THE CHAIRMAN AND THE TWO VICE CHAIRMEN OF THE GOVERNING BODY. THE ROLE OF THE EXECUTIVE COMMITTEE IS TO ADVISE THE PRESIDENT BETWEEN MEETINGS AND OCCASIONALLY MAKE DECISIONS ON BEHALF OF THE BOARD, WHEN THE MATTER IS URGENT AND IT IS NOT FEASIBLE FOR THE ENTIRE BOARD TO CONSIDER THE MATTER. ON FEBRUARY 5, 2011, TRUSTEES VOTED TO ALLOW THE EXECUTIVE COMMITTEE TO VOTE WITH THE PROVISION THAT ANY DECISION IS THEN CONVEYED TO THE BOARD AND THE BOARD COULD RECONSIDER IT AT THE NEXT MEETING. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE GOVERNING BOARD ARE ALSO MEMBERS OF THE ORGANIZATION, BUT THEY ARE THE ONLY MEMBERS. THE MEMBERS ANNUALLY ELECT THE GOVERNING BOARD AND ONE OFFICER: THE CLERK; ALL OTHER OFFICERS ARE ELECTED BY THE GOVERNING BOARD. THE MEMBERS HAVE NO OTHER RIGHTS, AND NEITHER MAKE ANY OTHER DECISIONS NOR HAVE ANY RIGHT TO THE ORGANIZATION'S PROFITS OR, ON LIQUIDATION, ITS NET ASSETS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE GOVERNING BOARD ARE ALSO MEMBERS OF THE ORGANIZATION, BUT THEY ARE THE ONLY MEMBERS. THE MEMBERS ANNUALLY ELECT THE GOVERNING BOARD AND ONE OFFICER: THE CLERK; ALL OTHER OFFICERS ARE ELECTED BY THE GOVERNING BOARD. THE MEMBERS HAVE NO OTHER RIGHTS, AND NEITHER MAKE ANY OTHER DECISIONS NOR HAVE ANY RIGHT TO THE ORGANIZATION'S PROFITS OR, ON LIQUIDATION, ITS NET ASSETS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - THE PRESIDENT AND CHIEF FINANCIAL OFFICER REVIEW THE FORM 990 PRIOR TO A REVIEW BY THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. ONCE THIS PROCESS IS COMPLETE, THE FORM 990 IS THEN PROVIDED TO THE GOVERNING BODY. FORM 990 PROVIDED TO THE GOVERNING BODY - THE COLLEGE HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF SCHEDULE B IN ADVANCE OF FILING THE RETURN. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE BOARD HAS DELEGATED THE AUTHORITY AND RESPONSIBILITY FOR REVIEWING THAT SCHEDULE TO THE AUDIT COMMITTEE. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A EVEN THOUGH A COPY OF FORM 990 (WITH THE EXCEPTION OF SCHEDULE B) WAS PROVIDED TO THE COMPLETE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE GOVERNING BODY AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND SIGN A DOCUMENT REGARDING COMPLIANCE WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. THE PRESIDENT'S ASSISTANT MONITORS COMPLIANCE ON BEHALF OF THE BOARD. THE BOARD IS RESPONSIBLE FOR ENFORCEMENT ACTION ON THE POLICY. SHOULD ANY CONFLICT BE IDENTIFIED, THE INDIVIDUAL WOULD NOT PARTICIPATE IN THE DISCUSSION OR VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S COMPENSATION PACKAGE AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENT -24,189. CHARITABLE REMAINDER UNITRUST (1) CHARITABLE FUNDING VT 0 POOLED INCOME FUNDS (1) CHARITABLE FUNDING VT 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0