2018-02-15T12:10:39-07:00 2017-06-30 990 2016-07-01 930386908 REED INSTITUTE REED 5037777505 3203 SE Woodstock Blvd Portland OR 972028199 Robert Tust Associate Treasurer and Controller 5037777505 2018-02-15 134.10.129.125 2016 2021-01-29 14:40:06Z REED COLLEGE Robert Tust 3203 SE Woodstock Blvd Portland OR 97202 158724982 0 X www.reed.edu X 1908 OR Provide education in the liberal arts and sciences 35 34 1817 907 1756485 0 30195784 13575081 84693563 85884749 28798946 4970510 0 -73998 143688293 104356342 26826137 28268227 0 0 58135192 54030519 0 0 4543101 35768091 37154617 120729420 119453363 22958873 -15097021 710474726 751616019 136339276 133643296 574135450 617972723 The mission of Reed College is to provide education in the liberal arts and sciences. 0 0 1220091 0 1220091 The Institute had 19 research grants funded with federal funds. Departments funded were Biology, Chemistry, Financial Aid, Math, Psychology, Sociology, Economics and the Reactor. 92309588 28268227 70314915 1,432 FTE Students, 301 degrees conferred 16/17. 16221009 0 14349743 Auxiliary services - students living in dorms, using dining facilities and bookstore. 0 0 0 109750688 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 1766 0 1 1817 1 1 1 0 0 0 0 0 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X X Lorraine Arvin 5037777506 Vice President and Treasurer 3203 SE Woodstock Blvd Portland OR 972028199 Konrad S Alt '81 Trustee 1 0 X 0 0 0 Stephen E Babson Trustee 1 0 X 0 0 0 Matthew P Bergman '84 Trustee 1 0 X 0 0 0 Timothy P Boyle Trustee 1 0 X 0 0 0 M Jane Buchan Trustee 1 0 X 0 0 0 Suzanne Cassidy MD '65 Trustee 1 0 X 0 0 0 C Morris Copeland '82 Trustee 1 0 X 0 0 0 Thomas O Daniel MD Trustee 1 0 X 0 0 0 Richard J Danzig '65 Trustee 1 0 X 0 0 0 Kurt D Delbene Trustee 1 0 X 0 0 0 Donald Engelman '62 Trustee 1 0 X 0 0 0 Scott E Foster '77 Trustee 1 0 X 0 0 0 Nicholas Galakatos '79 Trustee 1 0 X 0 0 0 Daniel B Greenberg '62 Trustee 1 0.1 X 0 0 0 Dennis Henner Trustee 1 0 X 0 0 0 Linda G Howard '70 Trustee 1 0 X 0 0 0 Jay M Hubert '66 Trustee 1 0 X 0 0 0 George M James '77 Trustee 1 0 X 0 0 0 Deborah D Kamali '85 Trustee 1 0 X 0 0 0 Anna Hayes Levin Trustee 1 0 X 0 0 0 Amy M Madigan Trustee 1 0 X 0 0 0 Alex J Martinez '73 Trustee 1 0 X 0 0 0 Linda H Matthews '67 Trustee 1 0 X 0 0 0 Adrienne Nelson Trustee 1 0 X 0 0 0 Peter Norton '65 Trustee 1 0 X 0 0 0 Margaret Hill Noto '75 Trustee-Secretary 1 0 X 0 0 0 Eduardo Ochoa '73 Trustee 1 0 X 0 0 0 Roger M Perlmutter MD '73 Trustee-Chairman 1 0 X 0 0 0 Gary Rieschel '79 Trustee 1 0 X 0 0 0 Dylan Rivera '95 Trustee 1 0 X 0 0 0 John P Sheehy '82 Trustee 1 0 X 0 0 0 Alice Larkin Steiner '74 Trustee 1 0 X 0 0 0 Peter C Stockman '77 Trustee 1 0 X 0 0 0 Richard H Wollenberg '75 Trustee-Vice Chairman 1 0 X 0 0 0 John R Kroger President 40 0.1 X X 433782 0 28408 Hugh Porter VP/College Relations 40 0 X 299447 0 42018 Lorraine Arvin VP and Treasurer 40 0.1 X 290732 0 28492 Nigel J Nicholson Dean of the Faculty 40 0 X 215232 0 37588 Michael Brody VP & Dean of Student Services 40 0 X 202271 0 36234 Milyon Trulove VP and Dean of Admission and Financial Aid 40 0 X 176803 0 30099 Martin Ringle Chief Tech Officer 40 0 X 172458 0 24719 James Pommersheim Professor 40 0 X 166598 0 24801 Jan E Kurtz Director of Development 40 0 X 166301 0 25664 Amanda Heaton Executive Director of Communications and Public Affairs 40 0 X 161364 0 27682 Myron Angell Director of Facilities Operations 40 0 X 159233 0 24277 2444221 0 329982 88 0 1 0 Reimers & Jolivette Inc 2344 NW 24th Ave Portland OR 972102132 Construction 4202006 Bon Appetit Suite 100 2730 Sand Hill Road Menlo Park CA 94025 Food service 3992092 Lux Construction 2828 SE Salmon St Portland OR 97214 Construction 988969 Harrassowitz 820 University Blvd South Ste 2C Mobile AL 36609 Library services 645236 Washington Roofing Co 1700 SW Hwy 18 McMinnville OR 97128 Construction 548086 20 0 0 0 0 1267194 12307887 3371057 13575081 Tuition and fees 611710 70289302 70289302 0 0 Auxiliary-dorm fees 611710 6678903 6678903 0 0 Auxiliary-cafeteria fees 611710 5968030 5968030 0 0 Auxiliary-bookstore fees 611710 1318029 1318029 0 0 Other fees 611710 1630485 1630485 0 0 0 0 0 0 85884749 795029 0 1756485 -961456 0 0 0 0 0 0 0 0 262428 0 336426 0 -73998 0 -73998 0 0 -73998 57944626 263069 53814629 217585 4129997 45484 4175481 0 0 4175481 0 0 104356342 85884749 1756485 3140027 0 28268227 28268227 0 1927640 734168 840916 352556 38502607 34201307 1775488 2525812 3377975 2987385 169230 221360 7360782 6384525 468617 507640 2861515 2477794 181987 201734 0 266839 158729 101748 6362 207641 124244 78489 4908 0 0 0 0 0 0 350000 208197 133458 8345 9973232 9466058 363987 143187 0 0 0 0 8100055 7788474 178865 132716 1549321 1512562 18942 17817 0 0 0 0 1827524 1720066 91193 16265 2184698 1746659 126603 311436 0 0 0 0 0 0 0 0 2314477 2178386 115492 20599 0 0 0 0 5468851 5147282 272896 48673 458763 348215 104042 6506 4453216 4298410 137621 17185 119453363 109750688 5159574 4543101 9256181 54533 25658964 26540251 13261236 7021910 1120446 621537 5736930 4955667 5312163 444906 228325949 94192749 135177320 134133200 86089807 101230121 427365202 474792218 1496477 1821676 710474726 751616019 6910161 7464420 1731700 1143600 78782211 77424012 0 0 93143 59502 0 48822061 47551762 136339276 133643296 X 358621571 340737944 46394677 105400313 169119202 171834466 574135450 617972723 710474726 751616019 X -15097021 57987812 0 0 0 946482 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 473219824 6691816 64132469 8584946 18674692 565377 516219094 523955818 8081620 -32241862 8226779 17788676 560297 473219824 524449466 2111505 22193246 7655882 16603559 538958 523955818 469540315 5272650 73116008 7227447 15728428 523632 524449466 426222688 8414977 55724447 6481976 13820658 519163 469540315 0.52 0.32 0.16 0 0 0 9246257 9246257 0 203903827 80348160 123555667 0 0 0 0 0 15175865 13844589 1331276 0 0 0 0 134133200 Alternative investments 474792218 F 474792218 Post retirement benefits payable 26680433 Liability for split-interest agreements 12506606 Refundable loan programs 2611364 Asset retirement obligation 3049161 Swap derivative 1325840 Other 1378358 47551762 135123228 57987812 0 0 116588 58104400 77018828 0 27337514 27337514 104356342 92950298 0 0 0 0 0 92950298 0 26503065 26503065 119453363 Schedule D, Part V, Line 1a The beginning balance in column (e) was adjusted, and applied retroactively for all periods presented, to reflect a change in accounting policy that the College elected to adopt during the year ended June 30, 2017. Schedule D, Part V, Line 4 The college's endowment funds are used for scholarships, chairs, academic support, library support, student services, and general operating support. Schedule D, Part XI, Line 2d Life income realized gains and income 116,588 Schedule D, Part XI, Line 4b Scholarships 27,318,508; Rental expenses -336,425; Investment management expenses 350,000;Odyssey income -650; Other 6,081 Schedule D, Part XII, Line 4b Scholarships 27,318,508; Odyssey -795,277; Grayco -33,741; Investment management expenses 350,000; Rental expenses -336,425 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Newspaper announcement is done once a year and statement on Admission website-http://www.reed.edu/diversity/index.html Schedule E, Part I, Line 6 Financial assistance is from SEOG, Perkins, and Title 4 financial aid. Central America and the Caribbean 0 0 Investments 20717690 Europe (including Iceland and Greenland) 0 0 Investments 481439 East Asia and the Pacific 0 0 Investments 10389793 0 0 31588922 1 0 0 1 1 0 1 Reed Grants 755 27082821 0 SEOG 224 209939 0 Oregon State Grants 14 30375 0 Other State Grants 1 850 0 Other Awards 237 944242 0 Schedule I, Part I, Line 2 The financial aid office awards grants to students based on the students financial aid application. Once classes begin, grants are disbursed to the student's account where they offset tuition charges. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 John R Kroger President 433782 0 0 0 0 0 26500 0 1908 0 462190 0 0 0 Hugh Porter VP/College Relations 299447 0 0 0 0 0 26500 0 15518 0 341465 0 0 0 Lorraine Arvin VP and Treasurer 290732 0 0 0 0 0 26500 0 1992 0 319224 0 0 0 Nigel J Nicholson Dean of the Faculty 215232 0 0 0 0 0 22133 0 15455 0 252820 0 0 Michael Brody VP & Dean of Student Services 202271 0 0 0 0 0 20825 0 15409 0 238505 0 0 0 Milyon Trulove VP and Dean of Admission and Financial Aid 176803 0 0 0 0 0 18104 0 11995 0 206902 0 0 0 Martin Ringle Chief Tech Officer 172458 0 0 0 0 0 16350 0 8369 0 197177 0 0 James Pommersheim Professor 166598 0 0 0 0 0 16660 0 8141 0 191399 0 0 0 Jan E Kurtz Director of Development 166301 0 0 0 0 0 16756 0 8908 0 191965 0 0 0 Amanda Heaton Executive Director of Communications and Public Affairs 161364 0 0 0 0 0 16473 0 11209 0 189046 0 0 0 Myron Angell Director of Facilities Operations 159233 0 0 0 0 0 15923 0 8354 0 183510 0 0 0 Schedule J, Part I, Line 1a Housing is required as a condition of employment for the President and is not considered taxable income. Residence cleaning is also provided for the President. A Oregon Facilities Authority 936001787 68608JJE2 2008-04-23 47060000 See Part VI 0 0 0 B Oregon Facilities Authority 936001787 68608JNAS 2011-03-22 40195822 See part VI 0 0 0 A 7925000 0 47060000 0 977670 0 451579 0 0 0 45622338 0 2008 1 0 1 1 B 0 0 40195822 0 0 0 615747 0 0 20004876 19575199 0 2013 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 1 0 0 1 1 UBS 13 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 Schedule K, Part I-04/23/2008 47,060,000 Oregon Facilities Authority The 2008 bonds were issued to redeem and retire bonds which were issued on June 7, 2006 and August 1, 2007. Schedule K, Part I, Column f-03/22/2011 40,195,822 Oregon Facilities Authority The 2011 bonds were issued for the refunding of the 2000 Bond issue and the planning, construction, and building of a performing arts center for the music, dance, and theater departments. The 2000 bond was issued on May 11, 2000. X 103 3371057 market value 0 0 1 0 Schedule M, Part I, Line 9 The number reported in Part I, column (b) represents the number of contributions. Form 990, Part VI, Section B, Line 11b An electronic draft of the form 990 is provided to the Audit Committee of the Board of Trustees. The committee reviews, discusses, and provides input to management. After the Audit Committee accepts the form 990, it is made available to all Trustees for review. After any further trustee questions are resolved and a final copy of the return has been provided to the entire board, the form 990 is filed. Form 990, Part VI, Section B, Line 12c Reed requires all officers and institutional trustees to complete a conflict of interest form annually. The form includes the college's conflict of interest policy and asks each individual about the existence of conflicts of interest. If a conflict of interest exists the officer or trustee is asked to describe the situation in their response. These forms are reviewed by the Vice-President and Treasurer and the Chair of the Audit Committee of the Board. Persons with a conflict are prohibited from participating in the Board and officer deliberations and decisions in those transactions. Form 990, Part VI, Section B, Line 15 The Executive Committee, which is comprised of independent Trustees and which functions as the College's compensation committee, annually reviews presidential and officer compensation data from comparable colleges along with other data provided by the Human Resources Office. They also conduct an annual performance evaluation of the President. Any changes in the President's compensation are approved by the Executive Committee, and communicated by the Chair of Board of Trustees in writing to the President. The Executive Committee review and decisions on executive compensation are documented in the minutes of the Executive Committee meetings. These reviews are completed in June of each year. Form 990, Part VI, Section C, Line 19 Governing documents are available upon request. Conflict of interest policy and financial statements are available on the College's Office of the Treasurer website. Form 990, Part XI, Line 9 Adjustment for Odyssey Property Holdings (681,936). Unrealized gains on split-interest agreements 1,628,418. Odyssey Property Holdings Inc 3203 SE Woodstock Blvd Portland OR 97202 200779531 acquire, develop, and hold title to property OR 501(c)(2) The Reed Institute 1 Grayco Resources Inc 3203 SE Woodstock Blvd Portland OR 97202 930603357 Rental Activity OR The Reed Institute C 70012 1253366 1 1 Charitable remainder trust (28) 3203 SE Woodstock Blvd Portland OR 97202 Trust OR The Reed Institute T 0 Pooled Income Fund (1) 3203 SE Woodstock Blvd Portland OR 97202 Pooled Income Fund OR The Reed Institute T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 Grayco Resources Inc k 70000 Lease agreement Grayco Resources Inc s 60000 Loan payments