2017-11-14T13:41:47-06:00 2017-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2016-07-01 020223955 New England College NEWE 6034282211 98 Bridge St Henniker NH 03242 Paula Amato Senior Vice President and CFO 6034282211 2017-11-13 1 Barbara J McGuan CPA P00219457 2077752387 2017-11-13 69.49.157.66 2017-11-13 15:29:32 ES P 4A7A9222C8D681BBCE9F1B6E7BF5E3969F273E7D 110E64D7D7C632CB204D3607306484447A51AD6C 2016 2017-02-10 21:41:12Z Michele D Perkins 98 Bridge St Henniker NH 03242 60918797 0 X WWW.NEC.EDU X 1946 NH An independent liberal arts college offering undergraduate, graduate and professional programs. 21 20 956 30 100907 -2807 4827930 3084225 47386633 52447009 95295 547719 154896 166274 52464754 56245227 17667356 18908177 0 0 17683814 19464684 0 0 684151 14050612 15912962 49401782 54285823 3062972 1959404 52667589 54487182 19727890 18608038 32939699 35879144 X New England College emphasizes experiential learning as an essential component in the development of an enduring academic community. Building upon a strong liberal arts foundation, we challenge our students to reach their full potential through informed discourse and the pursuit of excellence in a framework of academic freedom that reflects the following values: imaginative, innovative, and creative approaches to all their endeavors; respect for self in the development of personal, social, physical and intellectual abilities; caring and collaborative relationships among members of our community; respect for the varied qualities of individuals, communities, and the world; an appreciation of beauty and elegance in the search for truth; inquiry into and the pursuit of social justice; ethical and responsible citizenship, including service to the community; the pursuit of ecological sustainability; continuous learning and a lifetime of personal achievement. 0 0 44396459 18908177 52447009 The College provides an education that develops critical and creative thinking abilities, effective communication skills, and responsible academic and social commitments; historical and comparative understanding of the humanities, social sciences, and natural sciences; responsiveness to ethical and humane concerns; respect for gender, ethnicity, generational, racial and religious identities, and an appreciation for natural environments and world cultures; and a foundation for lifelong learning. New England College offers undergraduate, graduate and professional programs leading to the degrees of Bachelor of Arts, Bachelor of Science, Master of Science, Master of Education and a doctorate in Higher Education Administration and K-12 Leadership. 44396459 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 85 0 1 956 1 1 1 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Paula Amato 6034282461 98 Bridge Street Henniker NH 032423293 William W Wyman Trustee 2.00 X 0 0 0 TJ Whitelaw Trustee, Vice Chair 2.00 X X 0 0 0 Thomas W Farmen Trustee 2.00 X 0 0 0 Stephen Ketchum Trustee 2.00 X 0 0 0 Stephen A Geremia Trustee, Vice Chair 2.00 X X 0 0 0 Scott Simpson Trustee 2.00 X 0 0 0 Robert T Hamecs Trustee 2.00 X 0 0 0 Michele D Perkins EdD President 40.00 X X 301142 0 40215 Dr Michael K Thomas Trustee 2.00 X 0 0 0 Mary V Bell Trustee 2.00 X 0 0 0 Mary Simon Streep Trustee 2.00 X 0 0 0 John Maguire PhD Trustee 2.00 X 0 0 0 Jeffrey K Towle Trustee 2.00 X 0 0 0 James Murtha PhD Board of Trustees, Chair 10.00 X X 0 0 0 Elbridge T Gerry III Trustee 2.00 X 0 0 0 Edmund C Beebe Jr Trustee 2.00 X 0 0 0 Daniel Lynch Trustee 2.00 X 0 0 0 Daniel R DeMeo Jr Trustee 2.00 X 0 0 0 Christopher Brazill Trustee 2.00 X 0 0 0 Astrid Williams Trustee 2.00 X 0 0 0 Alexander Scourby Board of Trustees, Chair Elect 2.00 X X 0 0 0 Paula A Amato CMA Senior Vice President & CFO 40.00 X 178180 0 37519 Thomas J Addonizio Vice President of School of Graduate and Professio 40.00 X 150180 0 7906 Mark T Watman Past Provost 40.00 X 134829 0 14200 Debra Nitschke-Shaw Associate Dean 35.00 X 175588 0 30501 Bradley F Poznanski Vice President for Enrollm 40.00 X 145690 0 25142 Wayne Lesperance Dean of Undergraduate Programs 35.00 X 140619 0 28306 1226228 0 183789 12 0 1 0 Chartwells (Compass) PO Box 417632 Boston MA 022417632 Food Services 2527744 Southeast Service Corporation PO Box 742268 Atlanta GA 303742268 Facility Management 1956549 Harvey Construction 10 Harvey Road Bedford NH 03110 Construction Services 927490 DSK Architects & Planners 30 Monument Services Ste 200B Concord MA 01742 Architectural Services 378704 4 620207 2464018 33462 3084225 Tuition and Fees 611710 43368340 43368340 Auxiliary Services 713990 8131119 8030212 100907 Various Other Income 611710 500806 500806 Student Services 611710 327549 327549 Commencement Income 611710 119195 119195 52447009 242573 242573 4978716 4673570 305146 305146 305146 166274 0 166274 166274 56245227 52346102 100907 713993 18908177 18908177 557056 557056 14708078 13011292 1331332 365454 316332 281086 35246 2819255 2361360 454197 3698 1063963 877457 158549 27957 441488 441488 29343 29343 85059 85059 52261 52261 1611636 395297 1177143 39196 1486803 1393384 93419 772248 734541 37707 1454511 1454511 1526173 1258645 267528 1416829 221095 1183545 12189 181634 113280 36481 31873 260249 260249 1958393 807689 1150704 24891 22500 2391 Food Service Operations 2254329 2254329 Other Organizational Op 1833914 1749610 67982 16322 Equipment Purchases 224920 224920 Athletics Fundraising 149755 149755 148526 74850 73676 54285823 44396459 9205213 684151 X 2515236 1554166 236297 246966 4824552 3482609 4670087 5111971 3268757 3473501 72530 61766 1769780 1650145 60526126 34564391 23738872 25961735 11571478 12944323 52667589 54487182 5687163 4300633 1772408 1912655 11042953 11144108 6410 0 1218956 1250642 19727890 18608038 X 13168879 15114196 12083981 12840975 7686839 7923973 32939699 35879144 52667589 54487182 1959404 980041 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 281795 X X 0 11650232 237134 1515890 255537 52262 13095457 11869486 335089 -182054 322933 49356 11650232 11915333 273086 4617 273085 50465 11869486 9274824 1275871 1659637 271203 23796 11915333 8145908 153674 1176692 153671 47779 9274824 0.31590 0.58360 0.10050 0 0 750030 750030 37069585 19883583 17186002 18515053 14680808 3834245 4191458 4191458 25961735 Refundable Advances 1250642 1250642 38264829 980041 980041 37284788 52262 18908177 18960439 56245227 35325384 0 35325384 52262 18908177 18960439 54285823 Part III, Line 4: Andy Warhol photographs are part of the College's permanent art collection and is frequently on display at the New England College Gallery in Preston Barn. The Gallery is a focal point for the visual arts in the region. In keeping with the College's mission, the Gallery is accessible, welcoming and free to the community at large. Part V, Line 4: The College's endowment primarily consists of funds established for scholarships. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. As required by U.S. generally accepted accounting principles (GAAP), net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The College has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that the College must hold in perpetuity or for a donor-specified period(s) as well as board-designated funds. Under this policy, as approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to produce results that exceed the price and yield results of appropriate market indices while assuming a moderate level of investment risk. The College's investment objectives are to provide a total return sufficient to support the College's operating budget while preserving the assets against inflation. To meet these objectives the Board seeks a total return of at least 5% greater than the rate of inflation as measured by the Consumer Price Index (U.S. CPI-U) over a long-term horizon. Total return is defined as dividends or interest income, plus or minus realized and unrealized capital appreciation or depreciation at fair market value, net of fees. The maximum amount of endowment income utilization is determined by a spending formula approved by the Board of Trustees. The amount available for spending is set at 5% of the previous three-year average market value for the years ended June 30, 2017 and 2016, respectively. The amounts available to be distributed, net of unspent endowment income, under the spending policy were $596,399 and $525,306 for the years ended June 30, 2017 and 2016, respectively. These amounts are included in change in net assets from operations. Investment income greater or less than the amounts available to be distributed under the spending policy is reported as nonoperating income. Part XI, Line 4b - Other Adjustments: Institutional Financial Aid 18,908,177. Part XII, Line 4b - Other Adjustments: Institutional Financial Aid 18,908,177. 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 prominently included in all application materials as well as on the school's web site and in other printed materials. Schedule E, Part I, Line 6 The college participates in various federal and state governmental financial aid programs. Miscellaneous Fundraising Events 166274 166274 166274 166274 166274 1 State Grant 40 48200 Federal Pell Grant 1142 4085154 Federal SEOG Grant 262 272864 Federal Work Study 182 178139 Various Scholarships 899 14223820 FMV Internal Scholarships Endowed Scholarship Recipients 55 100000 Part I, Line 2: All assistance to individuals is in the form of financial aid, grants, scholarships and tuition discounts awarded to students. Assistance is applied directly to the student's account balance. X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Michele D Perkins EdD President 299954 0 0 0 1188 0 15000 0 25215 0 341357 0 0 0 Paula A Amato CMA Senior Vice President & CFO 177791 0 0 0 389 0 9500 0 28019 0 215699 0 0 0 Thomas J Addonizio Vice President of School of Graduate 150000 0 0 0 180 0 7500 0 406 0 158086 0 0 0 Debra Nitschke-Shaw Associate Dean 175113 0 0 0 475 0 9127 0 21374 0 206089 0 0 0 Bradley F Poznanski Vice President for Enrollm 145200 0 0 0 490 0 0 0 25142 0 170832 0 0 0 Wayne Lesperance Dean of Undergraduate Programs 140581 0 0 0 38 0 7575 0 20731 0 168925 0 0 0 Part I, Line 4a Mark T. Watman received severance payment in the amount of $61,384.51. A New Hampshire Health and Education Facilities Authority 020279866 2014-02-28 3635802 Refund the outstanding principal of Series 2011 and HUD Bonds 0 0 0 B New Hampshire Health and Education Facilities Authority 020279866 2015-05-01 8196862 Construction of new academic building 0 0 0 A 688556 3635802 71279 3564523 2014 1 0 1 1 B 8196862 8196862 2015 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 X 5 6575 FMV X 3 26887 FMV X 1 3949 FMV 0 1 1 Part I, Line 32b: The organization uses a brokerage account to sell contributions of stock. Form 990, Part VI, Section B, line 11b The audit committee reviews the 990 prior to its filing. After their review and any necessary changes are made, each board member is given a copy to review. Form 990, Part VI, Section B, line 12c An annual reporting is conducted by the VP of Finance. The process involves sending out a form each year to all trustees. The form is updated by these individuals and is then reviewed by the VP of Finance to ensure that there were no note-worthy changes in the current year. Form 990, Part VI, Section B, line 15 The compensation committee reviews and approves all compensation and salary for the President. Members of the compensation committee include trustees, all of whom are independent, with both higher education and business backgrounds. The President presents all salary offers for Vice President's to the compensation committee for discussion, review, and approval. The market data is reviewed annually. In 2010, the organization engaged an outside firm to do an extensive executive compensation study for the officers. The study was used to determine the President's salary and total compensation through the 2014 salary. No further changes have been made through 2017. Form 990, Part VI, Section C, line 19 The organization includes all of these documents in the college's library - which is available to the public upon request - and in all Vice President offices. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: New England College 98 Bridge Street Henniker, NH 03242 EIN 02-0223955 New England College is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).