2018-02-12T08:31:54-07:00 2017-06-30 990 2016-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 Grapevine Road Wenham MA 01984 Michael Ahearn Vice President for Finance 9788674038 2018-02-12 74.104.222.2 2016 2021-01-29 14:40:06Z D Michael Lindsay Gordon College 255 Grapevine Road Wenham MA 01984 128392164 0 X www.gordon.edu X 1889 MA Gordon College strives to graduate men and women distinguished by intellectual maturity and Christian character, committed to lives of service and prepared for leadership worldwide. 33 29 940 38 0 0 11216669 33469811 79247541 77849880 1457399 3010440 -840582 -147700 91081027 114182431 25992557 26531529 0 0 37298364 37972985 0 72328 4056392 25475597 25255077 88766518 89831919 2314509 24350512 117733930 143824239 49970203 46787797 67763727 97036442 Gordon College's primary responsibility is to prepare students for the long haul, to make them spiritually, intellectually, relationally and professionally ready for a lifetime of growth - from the first job out of college and beyond, into fields not yet existing. Our mission is to the foundation of all we do as we inspire the next generation toward faithful leadership for the common good. 0 0 59364402 26452254 58796958 Higher Education: Our largest program service is providing education and instruction to individuals giving them an opportunity to earn a degree. Gordon College is the only nondenominational Christian liberal arts college in New England. It offers 38 majors and confers 3 separate undergraduate degrees; Bachelor of Arts, Bachelor of Science and Bachelor of Music. Undergraduate enrollment of approximately 1657 students is drawn from 44 states and 55 countries. In 2016-17, Gordon College issued 369 undergraduate degrees (with a six-year graduation rate of 71%). Gordon had a faculty to student ratio of 12 to 1 with 69% of the students from outside Massachusetts. Of the 90 full-time faculty, 86% have earned doctorates. Gordon College students can take advantage of a wide variety of off-campus programs, both domestic and abroad. During 2016-17, 135 students participated in off-campus programs and short-term international seminars. 17760986 0 17250390 Auxiliary programs related to the educational process for dormitory housing, food service, bookstore, Lavida outdoor experience, balance and mobility center, summer athletic camps and other summer programs. There were 1379 resident students in the fall semester 2016 and 1275 in the spring semester 2017. 1282027 79275 1802532 Higher Education: Gordon College has graduate programs in education, music education, and leadership conferring degrees in Masters of Education, Masters of Music Education, and Master of Arts in Leadership. In 2016-17, the total of unduplicated graduate students was 681 drawn from 22 states and 17 countries. Gordon College conferred 82 masters' degrees in 2016-17. 0 0 0 78407415 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 1 1 0 0 0 1 314 0 1 940 1 0 1 IT 0 0 0 1 1 0 0 0 0 0 0 X 33 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberlie Mather 9788674883 Gordon College 255 Grapevine Road Wenham MA 01984 Herman J Smith Jr Chairman of the Board 5 0 X 0 0 0 Bradford Warner Treasurer and Clerk 5 0 X 0 0 0 David Beatty Trustee 2 0 X 0 0 0 Timothy Breene Trustee 2 0 X 0 0 0 David Cameron Trustee 1 0 X 0 0 0 Daniel Cho Trustee 1 0 X 0 0 0 Dr Judith M Dean Trustee 1 0 X 0 0 0 Laura Fastie-Grapshi Trustee 1 0 X 0 0 0 Lisa Forkner Trustee 2 0 X 0 0 0 Dr Marla Frederick Trustee 1 0 X 0 0 0 Dr John M Gurley Trustee 1 0 X 0 0 0 Gordon T Hall Trustee 1 0 X 0 0 0 Cherie S Harder Trustee 1 0 X 0 0 0 Peter Herschend Trustee 1 0 X 0 0 0 Dr Stuart Knechtle Trustee 1 0 X 0 0 0 Rev Raymond Lee Trustee 1 0 X 0 0 0 Bronwyn Loring Assistant Clerk 5 0 X 0 0 0 Rev Dr Roberto Miranda Trustee 1 0 X 0 0 0 Barry Rowan Trustee 1 0 X 0 0 0 Rev Samuel Schreiner III Trustee 1 0 X 0 0 0 Santiago Sedaca Trustee 1 0 X 0 0 0 Mary M Shahian Trustee 1 0 X 0 0 0 Aaron Shin Trustee 1 0 X 0 0 0 Dr Carrie Tibbles Trustee 2 0 X 0 0 0 Myron Ullman Vice Chair 5 0 X 0 0 0 Suannah Young Trustee 1 0 X 0 0 0 Foster Chase Trustee 1 0 X 0 0 0 Dr Dorothy Chappell Trustee 1 0 X 0 0 0 David Wright Trustee 1 0 X 0 0 0 Dr Talal Debs Trustee 1 0 X 0 0 0 Douglas H Gilbert Trustee 1 0 X 0 0 0 Shapri LoMaglio Trustee 1 0 X 0 0 0 Mark Norman Trustee 1 0 X 0 0 0 D Michael Lindsay President 60 0 X 293614 0 60419 Paul Edwards Senior Vice President for Advancement 60 0 X 269569 0 17067 Janel Curry Provost 60 0 X 171571 0 6815 Daniel Tymann Executive Vice President 60 0 X 157093 0 18136 Michael Ahearn Vice President for Finance and Administration 60 0 X 156887 0 37380 Jennifer Jukanovich Vice President for Student Life 60 0 X 135239 0 18417 Richard Sweeney Vice President for Marketing & Strategic Communications 60 0 X 132831 0 88089 Kaye Cook Professor of Pschology 60 0 X 112335 0 15746 David Lee Professor of Physics 60 0 X 108822 0 18312 James Pocock Counselor to the President 60 0 X 116119 0 8240 1654080 0 288621 13 0 1 0 Goodwin Proctor LLP Exchange Place Boston MA 02109 Legal services 264935 Zwemke Property Service 4 Samuel Riggs Circle Gloucester MA 01930 Building contractor 257248 Sea Island PO Box 30351 Sea Island GA 31561 Host special event 244478 Carr Enterprises LTD 10 Dearborn Road Suite 3C Peabody MA 01960 Building contractor 231426 Wellington Trust Company 75 State Street Boston MA 02109 Investment Management 228090 8 0 0 769742 0 452341 32247728 2082008 33469811 Tuition and Fees 611310 60061596 60061596 0 0 Residence Hall Revenue 611310 9922897 9922897 0 0 Board Plan Revenue 611310 3980317 3980317 0 0 Summer Programs Revenue 611310 782723 782723 0 0 Balance and Mobility Center 611310 737879 737879 0 0 2364468 2364468 0 0 77849880 971113 0 0 971113 0 0 0 0 0 0 0 0 84673 0 0 0 84673 0 84673 0 0 84673 15960208 51214 13963824 8271 1996384 42943 2039327 0 0 2039327 5265 769742 237638 -232373 0 -232373 0 114182431 77849880 0 2862740 0 0 23040559 23040559 3490970 3490970 0 0 1210726 0 900548 310178 260697 229971 6976 23750 27185223 20499979 5014347 1670897 834161 611212 164110 58839 6581464 4720550 1379287 481627 1900714 1363813 395854 141047 0 0 0 0 204985 0 204985 0 185221 0 185221 0 0 0 0 0 72328 72328 240922 0 240922 0 4064292 2324334 1497449 242509 226148 144531 2230 79387 2958512 2029492 691966 237054 1350671 743367 514740 92564 0 0 0 0 4337604 4184402 127349 25853 2668947 2249899 224109 194939 0 0 0 0 32505 26232 5189 1084 0 0 0 0 0 0 0 0 5674819 5335018 307184 32617 157246 107761 47030 2455 Allocation of Physical Plant 0 4716863 -4732529 15666 Food Service 1816513 1816513 0 0 Special Events 782559 350312 80947 351300 Memberships 188228 64468 105443 18317 365905 357169 4755 3981 89831919 78407415 7368112 4056392 721062 1615883 46607 395398 6740973 28315032 1557187 1648502 60000 121593 0 0 0 0 80929 55706 707587 650706 168329475 110926327 62206409 57403148 8832002 10055033 32570187 39624977 3294110 3233361 0 0 916877 704900 117733930 143824239 1285947 1541178 0 0 1977674 2291344 35455000 33787222 362038 284662 0 0 611881 138835 0 0 10277663 8744556 49970203 46787797 X 25287215 26416028 14453029 24442622 28023483 46177792 67763727 97036442 117733930 143824239 X 24350512 2972298 0 0 0 1949905 X 0 1 X 1 1 1 X 5511270 8552250 9284257 11216669 33469811 68034257 0 0 0 0 0 0 0 0 0 0 0 0 5511270 8552250 9284257 11216669 33469811 68034257 27214683 40819574 760120 851227 779533 949409 1055786 4396075 0 0 0 0 0 0 24288 25400 0 42570 5265 97523 72527855 376205295 0.56281 0.79295 X Schedule A, Part II, Line 10 The other income is gross income from fundraising events. See Part VIII, line 8a. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 89831919 89831919 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 0 0 0 0 0 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X 0 0 1 X 44166187 2727170 5441734 1415902 976230 0 49942959 44316144 1792579 -392561 1007849 542126 0 44166187 44008437 1006476 780514 964018 515265 0 44316144 37938929 1765931 5736994 956192 477225 0 44008437 35861856 289673 3213517 998888 427229 0 37938929 0.2328 0.6166 0.1506 0 0 0 1833672 1833672 0 126195334 73510682 52684652 0 0 0 0 0 28995915 27022520 1973395 0 11304554 10393125 911429 57403148 0 39624977 F 39624977 0 Conditional Asset Retirement Obligations 399003 Fair Value of Interest Rate Swap 4149866 Perkins Advances 2643818 Annuity Payment Obligations 1551869 8744556 X 90818999 2972298 0 0 425671 3397969 87421030 240922 26520479 26761401 114182431 61546284 0 0 0 648977 648977 60897307 240922 28693690 28934612 89831919 Schedule D, Part III, Line 1 Collections, which were acquired through purchases and contributions since the College's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Schedule D, Part III, Line 4 Occasionally the College receives gifts of art or collectibles which are put on display in various buildings throughout the campus. We also maintain library archives of College historical documents and book collections kept for posterity. Schedule D, Part IV, Line 2b The College maintains custodial or "pass through" accounts for Federal student loans, Pell grant and state grants. Funds are held in these accounts until distributed to individual students. The College also maintains custodial accounts for student government and student ministry groups and activities. Schedule D, Part V, Line 4 The intended use of endowment funds is driven by donor restrictions on our endowments. Approximately 62% of appropriated revenues this year were in scholarship awards. 23% of revenues supported general activities and physical plant. The remaining 15% was allocated to instructional activities and academic support programs. Distributions of income are made using a total return method. We used a spending rate of 6% of the 3 year rolling average of the fair market value of the investments. Schedule D, Part X, Line 2 FIN 48 Footnote: The College is a not-for-profit 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 This figure includes the FWS apportionment budget allocation of 188,033 included in income on the financial statements and special events expenses of 237,638 included in expense on the financial statements. Schedule D, Part XI, Line 4b Included here are: scholarships and grants of 26,068,138 treated as tuition discount on the financial statements; FSEOG and FWS of 452,341 treated as pass through activity on the financial statements and not reflected in income. Schedule D, Part XII, Line 2d This figure includes: FWS apportionment budget allocation of 188,033 included in income on the financial statements; special events expenses of 237,638 included in expense on the financial statements; change in fair value of split interest agreements of 223,306. Schedule D, Part XII, Line 4b Included here are: scholarships and grants of 26,068,138 treated as tuition discount on the financial statements; FSEOG and FWS of 452,341 treated as pass through activity on the financial statements and not reflected in expense; change in fair value of interest rate swap agreements of 2,173,211. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Given the technology available today, we have invested in our web site as the way to reach the most students. Our racially nondiscriminatory policy is posted on our web site. Our promotional activities and recruiting efforts in each geographic area are designed to inform students of all racial segments interested in a Christian college of the availability of Gordon College. Schedule E, Part I, Line 6 Gordon College receives Title IV funds for aid to students from the Department of Education for Federal Work Study, FSEOG, Federal Pell grant and other Federal student aid grant programs. 1 Europe (including Iceland and Greenland) 0 0 Grantmaking 45000 Central America and the Caribbean 0 0 Grantmaking 60000 South Asia 0 0 Grantmaking 118772 Middle East and North Africa 0 0 Grantmaking 48000 Sub-Saharan Africa 0 0 Grantmaking 470882 East Asia and the Pacific 0 0 Grantmaking 2160530 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 82695 South America 0 0 Grantmaking 425018 Russia and the newly independent States 0 0 Grantmaking 80073 Europe (including Iceland and Greenland) 1 20 Program Services We offer semester based programs in Italy and the Balkans. Expenditures are reported using accrual based accounting. Employee compensation is processed through our campus payroll system. Other program costs are managed by the program directors. Funds are wired periodically at the request of the program leaders and approved by the Global Education administrator. The program leaders pay local expenses. Expense documentation is submitted to the Controller's Office for review. Costs recorded at the time of the wires are for tuition, room, board and incidentals of the students. We also offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 1407405 Central America and the Caribbean 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 14623 South America 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 79334 Middle East and North Africa 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 220799 Sub-Saharan Africa 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 15410 East Asia and the Pacific 0 0 Program Services We offer International Seminar courses which are run for 2-4 week periods on a subject related to that country. In country expenses are for food, lodging, transportation and entrance fees. The Global Education Office also approves students to attend non-Gordon programs at other organizations or foreign colleges or universities. Funds are sent on behalf of those students directly to those programs. 421263 Middle East and North Africa 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 500 Sub-Saharan Africa 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 1214 East Asia and the Pacific 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 3000 North America (including Canada and Mexico, but not the United States) 0 0 Program Services We strongly believe global internships provide our students with rich cross-cultural experiences, help them build networks with global organizations in diverse areas of work and ministry, and position them well to meet the challenges in an increasingly competitive world. Students can apply for assistance with travel costs to international locations through our Ava Memmen Global Internship program. The program is administered by the Executive Vice President and the Career Services office. 714 Europe (including Iceland and Greenland) 0 0 Program Services Global Education staff traveled to verify quality of various off-campus programs. 11638 East Asia and the Pacific 0 0 Program Services Global Education staff traveled to verify quality of various off-campus programs. 1000 Europe (including Iceland and Greenland) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 17484 Central America and the Caribbean 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 80272 South Asia 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 30206 Sub-Saharan Africa 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 20979 East Asia and the Pacific 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 3484 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 9401 Russia and the newly independent States 0 0 Program Services Missions and service learning trips: Goal of trips is to help students serve overseas for a period of time ranging from 3-10 weeks over semester or summer breaks. They are student led/staff advised. In country costs are for food, housing, transportation and service project expenses. Where possible, funds are wired for these costs based on approvals from the Dean of Chapel. Per Diem advances based on State Department rates are issued to trip leaders to pay in country costs. Trip leaders must document the expenses with detailed itineraries and have approval from the Dean of Chapel. 9718 Europe (including Iceland and Greenland) 0 0 Fundraising The President led a trip for friends and donors of the College for donor relationship building and cultivation. 65374 East Asia and the Pacific 0 0 Program Services The President and admissions counselors traveled on behalf of the College for student recruitment and program development. 27755 South America 0 0 Program Services The President traveled on behalf of the College for student recruitment and program development. 273 1 20 5932816 Scholarships and grants Europe (including Iceland and Greenland) 2 45000 credit to student bill 0 Scholarships and grants Central America and the Caribbean 3 60000 credit to student bill 0 Scholarships and grants South Asia 6 118772 credit to student bill 0 Scholarships and grants Middle East and North Africa 2 48000 credit to student bill 0 Scholarships and grants Sub-Saharan Africa 19 470882 credit to student bill 0 Scholarships and grants East Asia and the Pacific 106 2160530 credit to student bill 0 Scholarships and grants North America (including Canada and Mexico, but not the United States) 5 82695 credit to student bill 0 Scholarships and grants South America 17 425018 credit to student bill 0 Scholarships and grants Russia and the newly independent States 3 80073 credit to student bill 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 Grants and scholarships to international students are treated as tuition discounts and are applied as accounting credits on each student's bill. They are not paid directly to the student. Merit scholarships are awarded based on academic criteria and are renewed annually based on satisfactory GPA requirements that are verified by the Registrar's Office. Donated scholarship funds are awarded based on criteria provided by donors. Specific eligibility is verified annually by the Registrar's Office, Admissions and the Financial Aid Office. Need based grants are awarded based on the student's determined financial need. The College uses information provided by the CSS Profile of the College Board. The grant amount is carried forward from year to year unless there is a significant change in determined financial need. X X X X X X X 1 Paul Veerman 259 Grovefield Drive Fort Mill SC 29715 Individual donor gift solicitation 0 512942 72328 440614 512942 72328 440614 All States Celebration of Faithful Leadership 775007 769742 5265 0 0 9100 30023 77875 120640 0 0 775007 769742 5265 0 0 9100 30023 77875 120640 237638 -232373 Schedule G, Part I, Line 2b The Paul Veerman contract specifically states that he will invoice on a time and materials basis with an itemized listing of expenses and original receipts. The College paid $16,828 in expenses to Paul Veerman. The contract states that he will raise funds in the Southeastern Territory of the U.S. for charitable purposes to be received at Gordon College. At no time will he receive or control funds, assets or property solicited for charitable purposes or employ, procure, or engage any compensated person to solicit, receive, or control funds, assets, or property for charitable purposes. 1 Scholarships and grants to Gordon College students 1425 22577168 0 Federal SEOG grants 227 162460 0 Federal Work-Study Awards 391 206033 0 Federal Teach Grant 23 83848 0 Dr Marvin Wilson Award for Teaching 2 2000 0 Economics/Business Majors Scholar Award 5 2500 0 AJG Mission Fellowship Award 5 5000 0 Invitation to Leadership Award 1 1250 0 Gordon Medical Observership Award 1 300 0 Schedule I, Part I, Line 2 Gordon College awards three types of grants/scholarships: merit scholarships, need-based grants and endowment funded restricted scholarships. Merit scholarships are awarded based on the incoming student's academic criteria determined by the Admissions Office. These scholarships are renewed annually by verification of the Registrar's Office that cumulative GPA requirements are met. Need-based grants are awarded based on the student's determined financial need. We determine financial need using information provided by the FAFSA. We practice level-funding of the need-based grants to future years unless there is a significant change in determined financial need. Endowment funded restricted scholarships are awarded based on criteria established by donors. The criteria information on specific eligible students is provided by the Registrar, Admissions and Financial Aid Offices. Students are evaluated annually to verify they continue to meet the donor criteria for an endowment award. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 D Michael Lindsay President 292439 0 0 0 1175 0 0 0 60419 0 354033 0 0 0 Paul Edwards Senior Vice President for Advancement 245914 0 20000 0 3655 0 0 0 17067 0 286636 0 0 0 Richard Sweeney Vice President for Marketing & Strategic Communications 123251 0 9000 0 580 0 0 0 88089 0 220920 0 0 0 Michael Ahearn Vice President for Finance and Administration 155516 0 0 0 1371 0 0 0 37380 0 194267 0 0 0 Janel Curry Provost 158684 0 12000 0 887 0 0 0 6815 0 178386 0 0 0 Daniel Tymann Executive Vice President 152931 0 0 0 4162 0 0 0 18136 0 175229 0 0 0 Jennifer Jukanovich Vice President for Student Life 127939 0 7000 0 300 0 0 0 18417 0 153656 0 0 0 Schedule J, Part I, Line 1a Travel for companions: Occasionally spouses of officers accompany them on business trips for the College. In order to be treated as a working condition fringe benefit, the College requires substantiation of the trip as a bonafide business expense for both the officer and the spouse. If there is no business purpose for the spouse, the spousal travel is treated as taxable income to the officer or the officer reimburses the College. Housing allowance or residence for personal use: One listed person received this benefit. The President is required to live in on-campus housing for hosting purposes and 24/7 availability to the campus community. Because of this requirement, it is excluded from wages under Section 119 of the IRS code. The housing value included in non-taxable compensation was $36,915. Schedule J, Part I, Line 7 Certain employees were given bonuses for exceeding the goals and expectations assigned to them for the year. Recommendations for bonuses are made by the President to the executive committee of the board. The executive committee of the board reviews and approves the bonuses. A Massachusetts Development Finance Agency 043431814 2013-02-19 38480000 Refund prior issue (issued 10/31/2012) 0 0 0 A 0 0 38480000 0 0 0 0 0 0 0 38480000 0 2012 1 0 1 1 A 0 0 1 1 0 0.00759 0 0.00759 0 0 1 A 0 0 1 0 1 1 RBS Citizens Bank NA 10 0 0 0 0 1 A 1 Schedule K, Part II, Line 6-02/19/2013 38,480,000 Massachusetts Development Finance Agency The balance of the escrow account was $0 as of the reporting date. An escrow account was used at the time of the issuance until 11/16/2009 per the bond agreement. Schedule K, Part IV, Line 3-02/19/2013 38,480,000 Massachusetts Development Finance Agency The College has multiple interest rate swap agreements, with terms (in years) 10, 20, 26.2, 10, and 19 for the $30,000,000 issuance and terms (in years) 10, 20, 26.2, and 10 for the $10,000,000 issuance. Gordon College put in the longest swap term in line 3c, since we are only able to input one term. Schedule K, Part V-02/19/2013 38,480,000 Massachusetts Development Finance Agency At the time of the 2009 bond issuance, written post-issuance compliance procedures had not been enacted. After June 30, 2012, the College did identify a violation of Federal tax requirements related to maintaining ownership of property purchased with bond proceeds. The College enacted post-issuance compliance procedures and subsequently went through the Voluntary Closing Agreement Program. A VCAP agreement has been approved by the IRS, thus resolving the issue. D Michael Lindsay President Premium split dollar life insurance arrangement X 120000 121593 0 1 1 121593 NA not required for colleges NA not required for colleges 180622 Scholarships and grants Merit scholarships Jonathan Tymann brother of Executive Vice President 182852 Employment Compensation 0 Rebecca Lindsay Spouse of President 23750 Employment compensation 0 Sarah Welch Daughter of Executive Vice President 28096 Employee Compensation 0 Schedule L, Part IV Three relatives of officers are also employed by Gordon College. X 0 cost of donated property X 19 2082008 fair market value date on date received X Equipment 2 0 cost of donated property X Instrument 1 0 cost of donated property 0 0 1 0 Schedule M, Part I, Line 9 The number in Column B is the total number of contributions. Schedule M, Part I, Lines 25-28 The number in Column B for lines 25 and 26 is the total number of contributions. Schedule M, Part I, Line 33 Institutional policy for works of art is to not record a gift value. We do not capitalize our collections as allowed under SFAS 116 (ASC 958-360-25). Lines 5, 25 and 26: Revenues were not reported because the gifts were not given a value as appraisals were unavailable. Form 990, Part VI, Section A, Line 2 One of our trustees, David Beatty, is the CEO of Daintree Advisors. Another trustee, Mary Shahian is the Managing Director of Daintree Advisors. Trustee, Lisa Forkner's husband is also employed by Daintree Advisors. Form 990, Part VI, Section B, Line 11b The controller prepares the 990 and submits it for review to the Vice President for Finance and the President. The Form 990 is also reviewed by tax advisors from a national accounting firm. Once the Form 990 is approved by the President and Vice President, prior to filing with the Internal Revenue Service, the Form 990, as it will ultimately be filed, is provided to the board for review and approval. Form 990, Part VI, Section B, Line 12c An annual Disclosure Form delineating conflicts is distributed to all trustees at the annual board meeting and must be signed by each trustee. A copy is mailed to any trustee who is absent and must be signed and returned. Trustees must recuse themselves from any discussion of or vote on any issue involving conflicts of interest. Key employees and officers must also sign an annual conflict of interest form which clearly delineates conflicts of interest. The Vice President for Finance and Administration monitors and reviews the conflict of interest statements. The President's Office collects and maintains them. Form 990, Part VI, Section B, Line 15 The executive committee of the board serves as the compensation committee for the president's position. The executive committee is comprised of independent board members. CCC, CCCU and other peer institutions compensation studies of college presidents are reviewed by the committee and the salary is set by committee vote. The president has an annual review by the committee and is judged based on attainment of goals for the year. The president submits compensation comparability data to the committee for the provost, vice president for finance and executive vice president positions. Compensation increases and bonuses, if any, are based upon job performance and the independent studies. Minutes are kept of the process and the committee vote. The last review process took place in 2017. Form 990, Part VI, Section C, Line 19 Our governing documents are available upon request and on our public web site. Our conflict of interest policy is available on our public web site. Our financial statements are available upon request and copies are maintained in the College library. Form 990, Part XI, Line 9 Other changes in net assets include: Change in fair value of split interest agreements (223,306) Interest rate swap fair value adjustment 2,173,211 Gordon College Foundation 255 Grapevine Road Wenham MA 01984 222610484 Advise on land use MA 501(c)3 9 Gordon College 1 Charitable Remainder Trusts (4) NA NA NA MA 01984 Charitable gift MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0