2018-05-14T16:20:23-05:00 2017-06-30 910189318 Moss Adams LLP 3121 West March Lane Suite 200 Stockton CA 95219 990 2016-07-01 951664101 Claremont McKenna College CLAR 9096218043 500 E Ninth Street Claremont CA 91711 Mia Alonzo Controller 9096218043 2018-05-10 1 Tracy S Paglia P00366884 2099556100 2018-05-10 2016 2022-09-23 18:48:47Z Hiram Chodosh 500 E Ninth Street Claremont CA 91711 756176929 0 X www.claremontmckenna.edu X 1946 CA CMC is an independent, residential, liberal arts college whose mission is to educate its students for responsible leadership in business, government, and the professions. 45 44 1868 240 -3813632 -3819330 34704925 26994832 87578305 90348820 11552927 25731760 1769430 2509052 135605587 145584464 21271473 21979996 0 0 57506641 58166761 0 0 4569929 67947614 59881047 146725728 140027804 -11120141 5556660 1243420477 1326170390 270826548 265395485 972593929 1060774905 X Claremont McKenna College is a highly selective, independent, coeducational, residential, liberal arts college. Its mission, within the mutually supportive framework of The Claremont Colleges, is to educate its students for thoughtful and productive lives and responsible leadership in business, government, and the professions, and to support faculty and student scholarship that contributes to intellectual vitality and the understanding of public policy issues. The College pursues this mission by providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 0 0 117955848 21979996 90348820 The College's primary exempt purpose is providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 117955848 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 2070 0 1 1868 1 1 1 1 CJ EI 0 0 0 0 1 1 0 0 0 X 45 44 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Mia Alonzo 9096218043 101 S Mills Ave Claremont CA 91711 Hiram Chodosh President 40.00 3.00 X X 538192 0 165340 David G Mgrublian Chair of Board of Trustees 1.00 1.00 X X 0 0 0 Peter K Barker Vice Chair of the Board 1.00 X X 0 0 0 James B Bemowski Trustee 1.00 X 0 0 0 Abbott L Brown Trustee 1.00 X 0 0 0 A Steven Crown Trustee 1.00 X 0 0 0 Robert A Day Vice Chair of the Board 1.00 X X 0 0 0 David Dreier Trustee 1.00 X 0 0 0 Steven Eggert Trustee 1.00 X 0 0 0 Elyssa Elbaz Trustee 1.00 X 0 0 0 Laura Grisolano Trustee 1.00 X 0 0 0 E David Hetz Vice Chair of the Board 1.00 X X 0 0 0 Greogry Hinckley Trustee 1.00 X 0 0 0 John M Isaacson Trustee 1.00 X 0 0 0 Jeffrey S Klein Trustee 1.00 X 0 0 0 Henry R Kravis Trustee 1.00 X 0 0 0 Carolyn Kuhl Trustee 1.00 X 0 0 0 Michael Larson Trustee 1.00 X 0 0 0 Thomas Leppert Trustee 1.00 X 0 0 0 Tao Li Trustee 1.00 X 0 0 0 James Mcelwee Trustee 1.00 X 0 0 0 Harry Mcmahon Vice Chair of the Board 1.00 X X 0 0 0 Thomas Mitchell Trustee 1.00 X 0 0 0 Jill Mullen Trustee 1.00 X 0 0 0 Akshata Murty Trustee 1.00 X 0 0 0 Robert Nakasone Trustee 1.00 X 0 0 0 Thomas Neff Trustee 1.00 X 0 0 0 Susan Matteson King Trustee 1.00 X 0 0 0 Kenneth M Novack Trustee 1.00 X 0 0 0 William Podlich Trustee 1.00 X 0 0 0 Douglas Peterson Trustee 1.00 X 0 0 0 Fredric J Prager Trustee 1.00 X 0 0 0 Rey Ramsey Trustee 1.00 X 0 0 0 G Jeffrey Records Jr Trustee 1.00 X 0 0 0 George R Roberts Trustee 1.00 X 0 0 0 Rossi Russell Trustee 1.00 X 0 0 0 Bruce A Soll Trustee 1.00 X 0 0 0 Kenneth J Valach Trustee 1.00 X 0 0 0 Shaw B Wagener Trustee 1.00 X 0 0 0 Christopher V Walker Trustee 1.00 X 0 0 0 Richard Chino Trustee 1.00 X 0 0 0 Laura E Lulejian Klein Trustee 1.00 X 0 0 0 C Steven Mcgann Trustee 1.00 X 0 0 0 Jennifer B Hogan Trustee 1.00 X 0 0 0 Jessica A Witt Trustee 1.00 X 0 0 0 Robin Aspinall VP Business Admin and Treasurer 40.00 1.00 X 317647 0 40549 Matthew Bibbens VP Admin and Planning, General Counsel and Secreta 40.00 1.00 X 256586 0 50026 Mia Alonzo Controller 4.00 20.00 X 0 146450 38278 Peter Uvin VP for Academic Affairs and Dean of the Faculty 40.00 X 334967 0 62066 Jefferson Huang VP for Admission and Financial Aid 40.00 X 277757 0 49030 John Faranda VP and Ambassador-At-Large for the College 40.00 X 199418 0 38868 James Floyd VP and CIO 40.00 X 320342 0 66924 Carroll Stevens VP for Advancement 40.00 X 249299 0 27660 Eric Hughson Faculty 40.00 X 353428 0 46833 Fan Yu Faculty 40.00 X 321256 0 50710 Lisa Meulbroek Faculty 40.00 X 315680 0 30464 Janet Smith Faculty 40.00 X 308729 0 43783 William Ascher Faculty 40.00 X 271286 0 53245 Pamela Gann Thru 0613 Faculty/Former President 40.00 X 213752 0 39057 Nicholas Warner Thru 615 Faculty/Former Int. Dean of Faculty 40.00 X 200579 0 29556 Ernie Iseminger Thru 1215 Former VP for Dev and Ext Relations 0.00 X 242053 0 0 4720971 146450 832389 151 1 1 0 Del Amo Construction Inc 23840 Madison St Torrance CA 90505 Construction 3102221 Bon Appetit PO Box 50196 Los Angeles CA 90074 Food Service 2894128 Montage Construction Inc 23 Mauchly Ste 100 Irvine CA 92618 Construction 948621 Cambridge Associates LLC 13528 Collection Center Drive Chicago IL 60693 Consulting 645000 O'Melveny & Myers LLP 400 South Hope Street 18th Floor Los Angeles CA 90071 Legal Counsel 632116 30 266125 26728707 6117163 26994832 Tuition & fees 611600 87707948 87707948 Fed. grants & contracts 611600 916633 916633 Private contracts 900099 707918 707918 Children sch. tuition 611710 655790 655790 Rental & catering 531390 293172 63587 229585 67359 67359 90348820 818050 -3813632 4631682 80 80 940989 749454 191535 191535 191535 633890385 866336 609162513 680498 24727872 185838 24913710 24913710 Miscellaneous income 900099 2184848 2184848 Vending, store & laundry 453000 132589 132589 2317437 145584464 90119235 -3813632 32284029 21979996 21979996 3485857 1071357 1563675 850825 801293 801293 41838056 37201156 2778712 1858188 4055806 3403963 426455 225388 5021615 4147128 525103 349384 2964134 2492379 308636 163119 39167 37592 1229 346 647381 17115 630266 302734 302734 3621974 3621974 3299743 2457126 762198 80419 868097 501478 201204 165415 3583330 2609850 859205 114275 2015566 1606751 234169 174646 3834775 3674283 136322 24170 5094635 4496661 363248 234726 1933646 1219313 658407 55926 7236755 6920029 247140 69586 9218641 6223166 2982307 13168 10604898 10056788 427688 120422 494758 421711 48833 24214 Food & housing 3069228 3065627 2810 791 Building repair 2793071 2698163 73605 21303 1222648 852923 346107 23618 140027804 117955848 17502027 4569929 898097 562510 30528956 32658190 125380339 117782147 8055014 5788980 217403 284524 33316 0 5559890 5590209 388643556 105399130 283418426 283244426 492558540 555880300 285966432 315070724 9627939 8562550 1176125 745830 1243420477 1326170390 15786909 13165145 1977721 2184680 196057278 191755704 1346246 1312702 55658394 56977254 270826548 265395485 X 258922500 295715238 334980357 374187497 378691072 390872170 972593929 1060774905 1243420477 1326170390 X 5556660 77447744 5176572 X 0 1 X 1 1 1 X 30959801 25735835 39379296 34704925 26994832 157774689 30959801 25735835 39379296 34704925 26994832 157774689 16318185 141456504 8575134 9428759 8177225 6028095 5572751 37781964 961083 943030 1072289 1210894 2317437 6504733 202061386 415076252 0.70010 0.61580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 19796 19796 0 Part II-B, Line 1: Dues and memberships paid to organizations to lobby on the College's behalf. Also, to support the effort to reauthorize the Section 568 exemption from the anti-trust laws. 4893750 7609570 X X 0 758740997 5331862 104383054 9665078 22032182 3482142 833276511 803058963 8600608 -19499097 9349877 21109903 2959697 758740997 806882120 18075121 11151926 8802607 20261570 3986027 803058963 711903791 10404200 116565027 8065887 19829453 4095558 806882120 632470112 12135943 95707378 7539559 16752664 4117419 711903791 0.21250 0.44600 0.34150 0 0 5088187 5088187 317601890 73616231 243985659 24857255 8802152 16055103 38043483 22980747 15062736 3052741 3052741 283244426 Assets whose use is limited 3432915 F Private equity and venture capital 132796850 F Real Estate, Energy, & Timber 51879177 F Long/Short Equity 58835856 F Absolute Return Funds 68125926 F 315070724 Life income and Annuities payable 50910936 Funds held in trust 3882807 Government advance for student loans 1364434 Asset Retirement Obligation 819077 56977254 X 204108258 77447744 2495165 79942909 124165349 3621974 17797141 21419115 145584464 115544511 749454 749454 114795057 3621974 21610773 25232747 140027804 Part III, Line 4: The College's works of art are held for public exhibition to enrich the teaching of art and humanities at the College. Part V, Line 4: The College uses the earnings of its endowment funds in accordance with donor restrictions. Where no donor intent is specified, the earnings fund the general operations of the College. Part X, Line 2: The College had no unrecognized tax benefits and/or obligations at June 30, 2017 and 2016. Part XI, Line 2d - Other Adjustments: Rental expenses reclassified to revenue 749,454. Actuarial adjustment 1,745,711. Part XI, Line 4b - Other Adjustments: Student aid, reclassified to expenses 21,610,773. Income from K-1's -3,813,632. Part XII, Line 2d - Other Adjustments: Rental expenses reclassified to revenue 749,454. Part XII, Line 4b - Other Adjustments: Student aid, reclassified to expenses 21,610,773. 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 College's NonDiscrimination Policy is publicized in brochures and the catalog, and is accessible on the college website. Schedule E, Part I, Line 6 Claremont McKenna College participates in the Pell Grant, Supplemental Educational Opportunity Grant, College Work-Study, and Perkins Loan programs. Central America and the Caribbean 0 0 Investments 202391446 Europe 0 0 Investments 2535840 North America 0 0 Investments 357254 Sub-Saharan Africa 0 0 Investments 3340809 0 0 0 0 0 0 0 0 208625349 0 208625349 1 0 1 1 1 0 1 Financial Aid 634 21979996 0 Part I, Line 2: The College monitors the use of grant funds by verifying student enrollment records maintained by the Office of the Registrar and the Office of Student Accounts. Enrollment verification is performed prior to awarding of grant funds and throughout the academic year. The Office of Financial Aid monitors the College's compliance with grant agreement requirements throughout the academic year, and keeps current with compliance requirements by participating in professional development workshops and reviewing federal compliance updates from the Department of Education and NASFAA. X X X X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 Hiram Chodosh President 495283 0 0 0 42909 0 70260 0 95080 0 703532 0 0 0 Robin Aspinall VP Business Admin and Treasurer 303807 0 0 0 13840 0 29430 0 11119 0 358196 0 0 0 Matthew Bibbens VP Admin and Planning, General Couns 245611 0 0 0 10975 0 28105 0 21921 0 306612 0 0 0 Mia Alonzo Controller 0 140970 0 5000 0 480 0 15640 0 22638 0 184728 0 0 Peter Uvin VP for Academic Affairs and Dean of 301127 0 25000 0 8840 0 29430 0 32636 0 397033 0 0 0 Jefferson Huang VP for Admission and Financial Aid 266223 0 0 0 11534 0 29430 0 19600 0 326787 0 0 0 John Faranda VP and Ambassador-At-Large for the C 198393 0 0 0 1025 0 22153 0 16715 0 238286 0 0 0 James Floyd VP and CIO 311998 0 0 0 8344 0 29430 0 37494 0 387266 0 0 0 Carroll Stevens VP for Advancement 246963 0 0 0 2336 0 27172 0 488 0 276959 0 0 0 Eric Hughson Faculty 331671 0 5000 0 16757 0 29430 0 17403 0 400261 0 0 0 Fan Yu Faculty 304916 0 4000 0 12340 0 29430 0 21280 0 371966 0 0 0 Lisa Meulbroek Faculty 310250 0 0 0 5430 0 29430 0 1034 0 346144 0 0 0 Janet Smith Faculty 298125 0 5000 0 5604 0 29430 0 14353 0 352512 0 0 0 William Ascher Faculty 262320 0 8689 0 277 0 29430 0 23815 0 324531 0 0 0 Pamela Gann Thru 0613 Faculty/Former President 212912 0 0 0 840 0 23265 0 15792 0 252809 0 0 0 Nicholas Warner Thru 615 Faculty/Former Int. Dean of Faculty 199739 0 0 0 840 0 21625 0 7931 0 230135 0 0 0 Ernie Iseminger Thru 1215 Former VP for Dev and Ext Relations 0 0 0 0 242053 0 0 0 0 0 242053 0 0 0 Part I, Line 1a - Travel for Companions - The College pays for expenses for the President's spouse's travel as covered per contract with valid business reason. - Housing allowance or residence for personal use - The College provides housing to the president as a condition of employment. - Health or social club dues - The College pays dues for the California Club for the sole purpose of conducting college business; no personal social activities are allowed. The value of the employer provided housing has been determined to meet the criteria of Sec 119 and is therefore reported as a non-taxable benefit. Because no personal social activities are conducted, the California Club dues are not included in taxable compensation. Part I, Lines 4a-b Ernest Iseminger received post-employment severance payments subsequent to his termination on 12/31/2015. Hiram Chodosh participates in a nonqualified deferred compensation plan under section 457(f). Contributions were made; however, no distributions have been made from the plan during the year. Part I, Line 7 Peter Uvin, Mia Alonzo, Eric Hughson, Fan Yu, Janet Smith and William Ascher received one-time performance related bonuses. A California Educational Facilities Authority 521705592 130179DN1 2015-12-03 123653806 See Part VI 0 0 0 B California Educational Facilities Authority 521705592 130178HT6 2007-05-31 42697442 See Part VI 0 0 0 C California Educational Facilities Authority 521705592 130178C95 2011-07-07 5908645 See Part VI 0 0 0 D California Educational Facilities Authority 521705592 130178T48 2012-11-28 34197474 See Part VI 0 0 0 A 1830000 123653806 1150406 122503400 0 1 1 1 B 3685000 25605000 44443284 595011 30007312 12132532 2009 1 1 1 1 C 765000 5908645 116290 5908645 2012 1 0 1 1 D 1150000 34240036 459038 25816935 7964062 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 0 0 1 0 0 1 Hypo Public Finance 5.100000000000 1 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Date Rebate Computation Performed Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 05/31/2009 Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 07/07/2011 Schedule K Supplental Information Part I, column (f) Description of Purpose: Bond (a) - Refund the 2007 and 2009 bonds. Bond (b) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (c) - Refund a portion of Authority's Series 1999 bonds & pay certain bond costs. Bond (d) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (e) - Finance the cost of acquisition/construction/improvement of new and existing educational facilities. Part II, line 3, column (D): The difference between part II, line 3 and issue price in part I is due to investment income. Part II, line 3, 2013 bond: The College entered into an agreement to borrow up to $25,000,000 in a non-revolving term loan from First Republic Bank, issued through the California Municipal Finance Authority (CMFA). First Republic Bank will disburse, from time to time, loan proceeds as requested by the College. As of June 30, 2017, the College had borrowed approximately $24,800,000 for the purposes of financing the cost of acquisition and construction of new educational facilities. A California Municipal Finance Authority 201563466 000000000 2013-12-11 24937500 See Part VI 0 0 0 A 1106697 24937570 124591 10859864 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Jefferson Huang VP for Student Affairs, Admission & Financial Aid Housing Assistance X 100000 32857 0 1 1 Matthew Bibbens VP for Administration & Planning, General Counsel, Sec. of the Corporation Housing Assistance X 100000 72500 0 1 1 Robin Aspinall VP for Business Administration, Treasurer Housing Assistance X 100000 81667 0 1 1 Peter Uvin VP for Academic Affairs and Dean of Faculty, Professor of Government Housing Assistance X 100000 97500 0 1 1 284524 Amy Bibbens Family Member of Matthew Bibbens, Officer 83204 Employment 0 Priya Junnar Family Member of Hiram Chodosh, Officer 106280 Employment 0 Minju Kim Family Member of Peter Uvin, VP for Academic Affairs and Dean of Faculty 127001 Employment 0 X 1 4893750 Cost price of donated pr X 110 1138122 FMV X 1 33133 Appraisal X Supplies 24 52158 FMV 1 0 1 0 Form 990, Part VI, Section A, line 2 Henry R. Kravis and George R. Roberts are Trustee members and have a family relationship. They are also partners of Kohlberg, Kravis, Roberts & Co. Form 990, Part VI, Section B, line 11b The College utilizes a process for review of the IRS Form 990, "Return of Organization Exempt from Income Tax", that involves multiple layers of management as well as governing board members. The College has engaged an outside accounting firm to prepare the 990 using information provided by the College's Treasurer's Office and Claremont University Consortium's Office of Financial Services. Once a draft has been prepared, it is reviewed by individuals in the Office of Financial Services, the Office of Human Resources, and the College's Treasurer's Office, and changes are made as needed. Once a revised draft is available, it is reviewed by the Controller and the Vice President for Business and Administration/Treasurer. After this review and any resulting changes are complete, the revised draft is provided to members of the College's Audit Committee for questions and comments. Once questions and comments from the Audit Committee are fielded and issues resolved, the 990 is provided to all voting members of the Board of Trustees prior to filing. Form 990, Part VI, Section B, line 12c Officers, trustees, and key employees are required to annually sign and submit to the Treasurer a statement disclosing all material financial interests of the individual or immediate family members in any outside entity in which the College has or is considering a transaction or other business relationship. The Treasurer creates a summary report of these and any other known conflict of interest disclosures for review by the Audit Committee. All transactions in which the Audit Committee has determined that a conflict exists are approved or ratified by the Board of Trustees. Form 990, Part VI, Section B, line 15 The College's process for determining compensation for all corporate officers, key employees, and disqualified persons is performed on an annual basis and includes the following elements: 1) use of data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations, 2) review of comparable compensation data and approval of compensation arrangements by a Compensation Subcommittee of the Executive Committee of the Board of Trustees, and 3) contemporaneous documentation with respect to deliberations and decisions regarding compensation arrangements. Data as to comparable compensation is derived from one or more of the following sources: a) Information compiled from IRS Form 990 reports, b) other regional or national compensation surveys, including an annual compensation survey published by the College and University Professional Association for Human Resources, and c) external consultant surveys and/or databases. Form 990, Part VI, Section C, line 19 -Financial statements and conflict of interest policy are available on the College website. -Governing/organizing documents are not available to the public. Form 990, Part XI, line 9: Actuarial adjustment 1,745,711. Income from K-1's 3,813,632. Writeoff of pledge receivables -382,780. Rounding 9. Claremont University Consortium 101 S Mills Ave Claremont CA 91711 954786748 Supporting Organization CA 501(c)(3) 12a, type I N/A 0 Claremont McKenna College Foundation 500 E 9th Street Claremont CA 91711 330735781 Supporting Organization CA 501(c)(3) 12a, type I Claremont McKenna College 1 Children's Education Center of Claremont 500 E 9th Street Claremont CA 91711 954508952 Preschool and Elementary School CA 501(c)(3) Line 2 Claremont McKenna College 1 Claremont Investment Fund 500 E 9th Street Claremont CA 91711 823049880 Supporting Organization CA 501(c)(3) 12a, type I Claremont McKenna College 1 Claremont Investment Management Company 500 E 9th Street Claremont CA 91711 823028605 Supporting Organization CA 501(c)(3) 12a, type I Claremont McKenna College 1 Pooled Income Fund (1) Holdings CA N/A 0 Pre-69 Trusts (3) Holdings CA N/A 0 Charitable Remainder Unitrust (19) Holdings CA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0