2017-05-15T12:01:07-05:00 2016-06-30 990 2015-07-01 030179414 Bennington College Corporation BENN 8024404328 One College Drive Bennington VT 05201 BRIAN MURPHY TREASURER 2017-05-15 2015 2021-01-29 14:40:06Z MARIKO SILVER One College Drive Bennington VT 05201 88025710 false X WWW.BENNINGTON.EDU X 1932 VT BENNINGTON COLLEGE IS A LIBERAL ARTS EDUCATIONAL INSTITUTION LOCATED IN BENNINGTON, VERMONT. THE UNDERGRADUATE AND GRADUATE ENROLLMENT IS MORE THAN 750 STUDENTS. 19 19 1024 250 -36037 -36038 14274613 18147330 39283342 43057123 1423574 478562 633146 631549 55614675 62314564 17379770 18798803 0 22989550 23871772 0 2059442 13018305 13353709 53387625 56024284 2227050 6290280 101036890 104475044 38587859 38351430 62449031 66123614 SEE SCHEDULE O. false false 41281226 18684313 41366873 UNDERGRADUATE PROGRAM: BENNINGTON COLLEGE HOLDS A DISTINGUISHED PLACE AMONG AMERICAN COLLEGES AND UNIVERSITIES. IT WAS THE FIRST TO INCLUDE THE VISUAL AND PERFORMING ARTS IN A LIBERAL ARTS EDUCATION, AND IT IS THE ONLY COLLEGE TO REQUIRE THAT ITS STUDENTS SPEND SEVEN WEEKS - EVERY YEAR - AT WORK IN THE WORLD (FIELD WORK TERM). BENNINGTON'S CENTER FOR THE ADVANCEMENT OF PUBLIC ACTION IS AN EXPRESSION OF THE COLLEGE'S COMMITMENT TO ENGAGING THE WORLD: BY EMBEDDING IN THE CURRICULUM AN ONGOING DYNAMIC BETWEEN PUBLIC RESPONSIBILITIES AND PRIVATE AMBITIONS, BENNINGTON AIMS TO ENSURE THAT ITS GRADUATES ARE COMMITTED TO, AND CAPABLE OF, EFFECTIVE ACTION IN THE WORLD. BENNINGTON STUDENTS DRAW ON THE FULL BREADTH OF THE COLLEGE'S CURRICULUM WHICH OFFERS CLASSES IN THE HUMANITIES, NATURAL SCIENCES, MATHEMATICS, SOCIAL SCIENCE, AND VISUAL AND PERFORMING ARTS - TO DESIGN INDIVIDUAL COURSES OF STUDY THAT ARE UNIFIED AND FUELED BY THEIR INTELLECT AND IMAGINATION, GUIDED BY THEIR FACULTY, AND SHAPED BY THEIR EXPERIENCE WORKING IN THE WORLD EACH YEAR. 960053 114490 1690250 GRADUATE PROGRAMS: BENNINGTON'S GRADUATE PROGRAMS ARE BUILT ON THE BELIEF THAT MAKING NEW WORK IS AT THE HEART OF THE EDUCATIONAL PROCESS. THE COLLEGE'S GRADUATE PROGRAMS ARE SMALL, INTENSIVE, AND SELECTIVE. BENNINGTON OFFERS TWO LOW-RESIDENCY GRADUATE PROGRAMS: A MASTER OF FINE ARTS IN WRITING, WHICH IS NATIONALLY RECOGNIZED. IN ADDITION, THE COLLEGE OFFERS A MASTER OF FINE ARTS IN PERFORMING ARTS DEGREE AND A POST BACCALAUREATE PREMEDICAL PROGRAM. IN 2015-16, THESE PROGRAMS SERVED APPROXIMATELY 125 STUDENTS. 42241279 true true false true false false false true false true true false false false true true true false true false true false true false false false false true true true true false false false false false false false false false false true false false false true true true false false false true 108 0 true 1024 true true true false false false false false false false false false false false X 19 19 false false false false false false false true true false false true true true true true true true false true true VT X BRIAN MURPHY 8024404358 One College Drive Bennington VT 05201 PRISCILLA ALEXANDER TRUSTEE 1.0 X 0 0 0 SUSAN PARIS BORDEN TRUSTEE 1.0 X 0 0 0 KAREN JOHNSON BOYD LIFE TRUSTEE (NON VOTING DECEASED 1/2016) 1.0 X 0 0 0 SUZANNE BRUNDAGE TRUSTEE 1.0 X 0 0 0 MATTHEW CLARKE TRUSTEE 1.0 X 0 0 0 BARBARA USHKOW DEANE VICE CHAIRMAN 1.0 X 0 0 0 WILLIAM DERROUGH TRUSTEE 1.0 X 0 0 0 OUSSEYNOU DIOME TRUSTEE (ROTATED OFF 6/2016) 1.0 X 0 0 0 MICHAEL HECHT TRUSTEE 1.0 X 0 0 0 TRACY KATSKY BOOMER TRUSTEE 1.0 X 0 0 0 JOHN J KENNEY TRUSTEE 1.0 X 0 0 0 BOBBIE KNABLE TRUSTEE 1.0 X 0 0 0 ALAN KORNBERG CHAIRMAN 1.0 X 0 0 0 DANIEL B ROWLAND TRUSTEE 1.0 X 0 0 0 CHARLENE SOLOW SCHWARTZ TRUSTEE 1.0 X 0 0 0 JAMES SIMON TRUSTEE 1.0 X 0 0 0 SARA STEINES TRUSTEE (RESIGNED 6/2016) 1.0 X 0 0 0 NICHOLAS STEPHENS TRUSTEE 1.0 X 0 0 0 CATHARINE STIMPSON TRUSTEE 1.0 X 0 0 0 PENELOPE PERKINS WILSON TRUSTEE 1.0 X 0 0 0 BEN SIMPSON TRUSTEE (STARTED 6/2016) 1.0 X 0 0 0 GENELL RAKIN TRUSTEE 1.0 X 0 0 0 DAVID REES SENIOR VP FOR INSTITUTIONAL INITIATIVES/SECRETARY 40.0 X 180210 0 20039 BRIAN MURPHY VP/CFO/TREASURER 40.0 X 172479 0 17565 MARIKO SILVER PRESIDENT (EXOFFICIO) 40.0 X 425513 0 110065 HUNG BUI VP AND DEAN OF ADMISSIONS AND FINANCIAL AID 40.0 X 150924 0 32724 ISABEL ROCHE PROVOST 40.0 X 177125 0 15015 MATT RIZZO VP FOR INSTITUTIONAL ADVANCEMENT (STARTED 6/2016) 40.0 X 0 0 0 JANET MARSDEN VP FOR COMMUNICATIONS 40.0 X 123000 0 9584 DUNCAN DOBBELMANN ASSOCIATE PROVOST 40.0 X 121960 0 21550 HOLLY A MCCORMACK DEAN OF FIELD WORK TERM 40.0 X 120121 0 16815 PAIGE BARTELS SR. VP FOR STRATEGIC PARTNERSHIPS 40.0 X 184630 0 15692 DAVID REKAS CONTROLLER 40.0 X 102248 0 10340 ELIZABETH COLEMAN DIR OF CTR FOR ADV OF PUB ACT 40.0 X 615905 0 12232 2374115 0 281621 17 true true true Aramark Corporation PO BOX 906023 CHARLOTTE NC 28290 FOOD SERV. PROVIDER 3660866 PITTSFIELD PIPERS INC PO BOX 1386 PITTSFIELD MA 01202 GNRL CONTRACTOR 809809 JEROME CONSTRUCTION 1545 WEST RD BENNINGTON VT 05201 GNRL CONTRACTOR 686865 CHRISTOFF FINIO ARCHITECTURE 250 W BROADWAY 4TH FLOOR NEW YORK NY 10013 ARCHITECT 321640 DEVELOPMENT GUILDDDI INC 233 HARVARD ST BROOKLINE MA 02446 CONSULTING/SEARCH SERVICES 250441 9 X 578660 17568670 2752777 18147330 TUITION & FEES 611710 33486506 33486506 ROOM & BOARD 721310 8762054 8762054 ANCILLARY STUDENT SVCS 611710 808563 808563 0 0 0 0 43057123 405219 405219 601333 474375 126958 0 126958 -36037 162995 25310114 25236771 73343 0 73343 73343 BOOKSTORE REVENUE 611710 217302 217302 NON-FUNDRAISING EVENT REVENUE 611710 58091 58091 STUDENT SNACK BAR 611710 46745 46745 182453 0 0 182453 504591 62314564 43057123 -36037 1146148 10000 10000 14778001 14778001 4010802 4010802 1143007 179375 764501 199131 17901088 13605771 3344084 951233 1245280 715726 473761 55793 2284621 1197909 958096 128616 1297776 939400 279983 78393 154395 19565 134830 86211 86211 118210 118210 33000 33000 0 0 62413 33533 28880 618644 340254 240156 38234 711222 454089 183469 73664 1736648 1165642 571006 668692 531805 53295 83592 130006 53871 41648 34487 1139851 712941 426910 3194976 1408984 1785992 544616 544616 OTHER SERVICES 2472074 551144 1517944 402986 FOOD SERVICES 1297823 1229324 61367 7132 PROJECTS AND EVENTS 166373 130987 35386 OTHER MISCELLANEOUS EXPENSES 218555 139156 73218 6181 0 0 0 0 56024284 42241279 11723563 2059442 2150669 2719491 9059207 14479864 1765379 690090 0 0 147959 156440 369997 445756 95449204 36440894 58004135 59008310 20461018 24388174 48235 48235 0 9030291 2538684 101036890 104475044 4928287 4504988 5363751 4820093 26757068 25938745 1538753 3087604 38587859 38351430 X 24265505 27280622 21865052 13846948 16318474 24996044 62449031 66123614 101036890 104475044 X 6290280 -553440 -2062257 X false true X true true true X 17919437 8636391 5745304 14274613 18147330 64723075 0 0 17919437 8636391 5745304 14274613 18147330 64723075 0 64723075 643778 373340 893013 765662 808275 3484068 0 479497 358290 365310 481851 504591 2189539 70396682 195468015 0.9194 0.9092 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 Schedule A, Part II, Line 10 Other Income DESCRIPTION - SNACK BAR REVENUE, COLUMN A - 182041.0, COLUMN B - 205838.0, COLUMN C - 26140.0, COLUMN D - 24114.0, COLUMN E - 46745.0, COLUMN F - 484878.0; DESCRIPTION - BOOKSTORE REVENUE, COLUMN A - 242846.0, COLUMN B - 152452.0, COLUMN C - 164364.0, COLUMN D - 175513.0, COLUMN E - 217302.0, COLUMN F - 952477.0; DESCRIPTION - TELEPHONE USAGE FEES, COLUMN A - 17591.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - , COLUMN F - 17591.0; DESCRIPTION - EVENT REVENUE, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 78260.0, COLUMN D - 55921.0, COLUMN E - 58091.0, COLUMN F - 192272.0; DESCRIPTION - OTHER REVENUE, COLUMN A - 37019.0, COLUMN B - 0.0, COLUMN C - 96546.0, COLUMN D - 226303.0, COLUMN E - 182453.0, COLUMN F - 542321.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false true 7002 7002 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORMS SERVING THE INTEREST OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $7,002 Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE COLLEGE IS A MEMBER OF THE ASSOCIATION OF VERMONT INDEPENDENT COLLEGES (AVIC) WHICH REPRESENTS ITS MEMBERS IN VARIOUS FORMS SERVING THE INTEREST OF HIGHER EDUCATION, INCLUDING GOVERNMENT LEGISLATION. ANNUAL MEMBERSHIP FEES PAID TO THIS ORGANIZATION WERE $7,002 X X X false 17141596 8778873 965248 295955 551387 118210 25920165 17892664 148557 -72635 203233 500097 123660 17141596 16095407 494226 2087428 189098 465313 129986 17892664 15305452 24850 1346381 167965 357978 55333 16095407 15521361 365508 -58494 151103 322042 49778 15305452 0.964 0.036 false false 1555100 1555100 85090906 31088917 54001989 0 0 0 4653512 3122867 1530645 4149686 2229110 1920576 59008310 INTEREST RATE SWAPS AT FMV 3087604 3087604 41266228 -553440 -20376686 -20930126 62196354 118210 0 118210 62314564 37591646 474375 474375 37117271 118210 18788803 18907013 56024284 Schedule D, Part X, Line 2 THE COLLEGE GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATION WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, THE COLLEGE MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE "MORE-LIKELY-THAN-NOT" THRESHOLD ARE RECORDED AS A TAX EXPENSE IN THE CURRENT YEAR. THE COLLEGE HAS ANALYZED ALL OPEN TAX YEARS, AS DEFINED BY STATUTES OF LIMITATIONS, FOR ALL MAJOR JURISDICTIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR TAXING AUTHORITIES FOR THE COLLEGE INCLUDE THE FEDERAL GOVERNMENT AND THE STATE OF VERMONT. AS OF JUNE 30, 2016, OPEN FEDERAL AND VERMONT TAX YEARS FOR THE COLLEGE INCLUDE THE TAX YEARS ENDED JUNE 30, 2013 THROUGH JUNE 30, 2015. THE COLLEGE HAS NO EXAMINATION IN PROGRESS. THE COLLEGE BELIEVES IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. Schedule D, Part III, Line 4 Collections of art - description of collections BENNINGTON COLLEGE WAS THE FIRST COLLEGE IN THE NATION TO INCLUDE THE VISUAL AND PERFORMING ARTS AS AN EQUAL PARTNER IN THE LIBERAL ARTS CURRICULUM. BY THE MIDDLE OF THE 20TH CENTURY, BENNINGTON WAS ALREADY PLAYING A CENTRAL ROLE IN THE AMERICAN ART SCENE - SERVING AS A LOCUS FOR MANY MAJOR FIGURES IN THE ART WORLD. BECAUSE OF ITS REMARKABLE HISTORY, BENNINGTON COLLEGE HAS ACQUIRED A UNIQUE COLLECTION OF PAINTINGS, PHOTOGRAPHS, PRINTS AND SCULPTURES - A LARGE PORTION OF THE COLLECTION CONSISTING OF WORK MADE BY ITS RENOWNED ALUMNI, FACULTY AND CAMPUS VISITORS. PRIMARILY A TEACHING COLLECTION, NEW WORK AND WORK FROM THE EXISTING COLLECTION ARE EVALUATED FOR THEIR RELEVANCE TO THE COLLECTION AS A WHOLE. SELECT WORK IS OCCASIONALLY LENT FOR NATIONAL EXHIBITIONS AND EXHIBITIONS IN THE REGION. MUCH OF THE COLLECTION IS PERMANENTLY ON DISPLAY THROUGHOUT THE CAMPUS AND IS EXHIBITED ROUTINELY THROUGH SPECIAL EXHIBITIONS IN THE COLLEGE'S USDAN GALLERY AND THE CROSSETT LIBRARY. Schedule D, Part V, Line 4 Intended uses of endowment funds THE COLLEGE'S ENDOWMENT CONSISTS OF SEVERAL DOZEN INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE COLLEGE, IF ANY, TO FUNCTION AS ENDOWMENTS. THE COLLEGE USES THE TOTAL RETURN CONCEPT, AND ITS SPENDING POLICY IS DESIGNED TO STABILIZE ANNUAL SPENDING LEVELS AND TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT ASSETS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF INVESTMENT RETURN ON LONG-TERM INVESTMENTS - -50408 CHANGE IN VALUE OF INTEREST RATE SWAP - -1548851 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS - -462999 RENT EXPENSE - 474375 FINANCIAL AID - -18788803 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENT EXPENSE - 474375 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements FINANCIAL AID - 18788803 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY BENNINGTON COLLEGE IS COMMITTED TO A POLICY OF NON-DISCRIMINATION AS DEFINED UNDER APPLICABLE STATE AND FEDERAL LAWS. DISCRIMINATION WITH REGARD TO AGE, SEX, CREED, DISABILITY, NATIONAL ORIGIN, RACE, COLOR, SEXUAL ORIENTATION, GENDER IDENTITY, MARITAL STATUS, OR ANY OTHER LEGALLY PROTECTED CATEGORY IS PROHIBITED. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT BENNINGTON COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT FINANCIAL AID PROGRAMS AS WELL AS RECEIVES GRANTS FROM THE NATIONAL SCIENCE FOUNDATION. true Central America and the Caribbean 0 0 Grantmaking 92500 East Asia and the Pacific 0 0 Grantmaking 457450 Europe (Including Iceland and Greenland) 0 0 Grantmaking 1220860 Middle East and North Africa 0 0 Grantmaking 135026 North America (Canada & Mexico only) 0 0 Grantmaking 96500 Russia and Neighboring States 0 0 Grantmaking 147176 South America 0 0 Grantmaking 286570 South Asia 0 0 Grantmaking 1243460 Sub-Saharan Africa 0 0 Grantmaking 331260 0 0 0 0 0 0 4010802 0 4010802 Bennington Grant Central America and the Caribbean 4 62500 ACCT CREDIT Bennington Grant East Asia and the Pacific 18 363950 ACCT CREDIT Bennington Grant Europe (Including Iceland and Greenland) 44 894110 ACCT CREDIT Bennington Grant Middle East and North Africa 6 87026 ACCT CREDIT Bennington Grant North America (Canada & Mexico only) 4 51500 ACCT CREDIT Bennington Grant Russia and Neighboring States 6 119176 ACCT CREDIT Bennington Grant South America 12 251570 ACCT CREDIT Bennington Grant South Asia 46 977210 ACCT CREDIT Bennington Grant Sub-Saharan Africa 12 257010 ACCT CREDIT Bennington Scholarship North America (Canada & Mexico only) 2 25000 ACCT CREDIT Brockway Scholarship Central America and the Caribbean 4 30000 ACCT CREDIT Brockway Scholarship East Asia and the Pacific 12 93500 ACCT CREDIT Brockway Scholarship Europe (Including Iceland and Greenland) 36 326750 ACCT CREDIT Brockway Scholarship Middle East and North Africa 6 48000 ACCT CREDIT Brockway Scholarship North America (Canada & Mexico only) 4 20000 ACCT CREDIT Brockway Scholarship Russia and Neighboring States 4 28000 ACCT CREDIT Brockway Scholarship South America 6 35000 ACCT CREDIT Brockway Scholarship South Asia 34 266250 ACCT CREDIT Brockway Scholarship Sub-Saharan Africa 10 74250 ACCT CREDIT false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds ALL GRANTS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO INTERNATIONAL STUDENTS STUDYING AT THE COLLEGE'S CAMPUS IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS ALL GRANTS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO INTERNATIONAL STUDENTS STUDYING AT THE COLLEGE'S CAMPUS IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. true PARAN RECREATIONS INC PO BOX 393 NORTH BENNINGTON VT 05257 030210869 501(c)(3) 10000 0 N/A N/A YOUTH ORGANIZATION AND ACTIVITIES 1 0 FEDERAL GRANTS 65 242997 BENNINGTON GRANT 335 7365015 BROCKWAY SCHOLARSHIP 480 5777513 BENNINGTON SCHOLARSHIP 2 54550 OTHER GRANTS 141 1337926 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. ALL GRANTS TO INDIVIDUALS REPRESENT SCHOLARSHIP/FINANCIAL ASSISTANCE TO U.S. STUDENTS TO ATTEND THE COLLEGE IN THE UNITED STATES. BENNINGTON MONITORS THE USE OF FUNDS THROUGH THE ANALYSIS OF TRANSCRIPTS, GRADES, AND WRITTEN NARRATIVES BY BOTH FACULTY AND STUDENTS. PROGRESS TOWARD THE REQUIREMENTS TO COMPLETE A DEGREE IS CLOSELY MONITORED. GRANTS ARE ONLY PROVIDED TO CURRENTLY ENROLLED STUDENTS. X X true true X X X false true false false false false false false false DAVID REES SENIOR VP FOR INSTITUTIONAL INITIATIVES/SECRETARY 180210 0 0 0 0 0 15026 0 5013 0 200249 0 0 0 BRIAN MURPHY VP/CFO/TREASURER 172479 0 0 0 0 0 8813 0 8752 0 190044 0 0 0 MARIKO SILVER PRESIDENT (EXOFFICIO) 425513 0 0 0 0 0 62982 0 47083 0 535578 0 0 0 HUNG BUI VP AND DEAN OF ADMISSIONS AND FINANCIAL AID 150924 0 0 0 0 0 13125 0 19599 0 183648 0 0 0 ISABEL ROCHE PROVOST 177125 0 0 0 0 0 14527 0 488 0 192140 0 0 0 PAIGE BARTELS SR. VP FOR STRATEGIC PARTNERSHIPS 184630 0 0 0 0 0 15026 0 666 0 200322 0 0 0 ELIZABETH COLEMAN DIR OF CTR FOR ADV OF PUB ACT 115905 0 0 0 500000 0 7875 0 4357 0 628137 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use AS A SMALL, RESIDENTIAL UNDERGRADUATE COLLEGE, BENNINGTON'S PRESIDENT IS REQUIRED TO LIVE AT THE COLLEGE OWNED RESIDENCE MAINTAINED HISTORICALLY FOR THE USE OF THE SITTING PRESIDENT. IN ADDITION TO SERVING AS THE PRESIDENT'S RESIDENCE, THE PRESIDENT'S HOUSE IS USED FOR NUMEROUS PRESIDENTIAL-LED ACTIVITIES INCLUDING TRUSTEE, FACULTY, STAFF, STUDENT AND ALUMNI MEETINGS, RECEPTIONS AND EVENTS. THE HOUSING IS A NON-TAXABLE BENEFIT PROVIDED TO THE PRESIDENT AND THE ESTIMATED AMOUNT OF THIS BENEFIT IS REPORTED ON SCHEDULE J, PART II. THE VP AND DEAN OF ADMISSIONS AND FINANCIAL AID IS ALSO PROVIDED WITH A COLLEGE OWNED RESIDENCE. THE RESIDENCE IS PROVIDED TO ASSIST IN MEETING THE ON CAMPUS DUTIES AND REQUIREMENTS OF THE POSITION. Schedule J, Part I, Line 1a Personal services A HOUSEKEEPER IS PROVIDED TO THE PRESIDENT TO FACILITATE HER ABILITY TO FOCUS ON HER DUTIES AND RESPONSIBILITIES. THE TOTAL COST OF WAGES AND BENEFITS FOR THE ASSISTANCE HAS BEEN INCLUDED IN THE PRESIDENT'S REPORTED TAXABLE WAGES. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan MARIKO SILVER, PRESIDENT OF THE COLLEGE, PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AS DESCRIBED IN SECTION 457(F). THE AMOUNT ACCRUED UNDER THE PLAN FOR 2014 WAS $26,537, WHICH IS REPORTED ON SCHEDULE J, COLUMN C. A VT ED & HEALTH BUILDINGS FINANCE AUTHORITY 237154467 2006-11-03 3000000 CONSTRUCTION OF FACILITY false false false B VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2008-12-16 10000000 SEE PART VI false false false C VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2008-12-31 10000000 CONSTRUCTION OF FACILITY false false false D VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2009-05-06 8150000 CONSTRUCTION OF FACILITY false false false A 1691150 3128819 35480 2964520 2008 false false true true B 1521053 10034144 190000 2843756 6966244 2011 false true true true C 1178382 10135471 150000 9850000 2011 false false true true D 820670 8250669 163000 7946250 40750 2012 false false true true A false false false false 0.0 false false false B false false false false 0.0 0.0 0.0 false false false C false false false false 0.0 0.0 0.0 false false false D false false false false 0.0 0.0 0.0 false false false A false false false true false false false false false B false false false true true true TD BANK NA 20.1 false false false false false C false false false true true true TD BANK NA 20.0 false false false false false D false false false true true true TD BANK NA 19.7 false false false false false A false B false C false D false Schedule K, Part I, Column (f) CONSTRUCTION OF FACILITY AND REFUND PRIOR TO ISSUE. OF THE AMOUNT OF PROCEEDS FROM THE BOND ISSUED 12/16/2008, $6,966,244 WAS AN ADVANCE REFUNDING OF A BOND ISSUED 10/21/1999. Schedule K, Part II, Line 3 THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. Schedule K, Part II, Line 11 OTHER SPENT PROCEEDS IN COLUMN D OF $40,750 REPRESENT BOND ISSUER FEES. Schedule K, Part IV, Line 2c NOTE REGARDING THE REBATE COMPUTATIONS: SINCE THE BOND PROCEEDS HAVE BEEN SPENT AND THE DEBT SERVICE FUNDS ARE OPERATED ON A BONA FIDE BASIS, NO FURTHER CALCULATIONS ARE NECESSARY. Schedule K, Part III, Line 9 AND PART V THERE ARE NO WRITTEN POLICIES AND PROCEDURES; HOWEVER, BENNINGTON COLLEGE COMPLIES WITH THE POLICIES AND PROCEDURES IN THE BOND DOCUMENTS. Schedule K, Part IV, Line 2c COLUMN A Issuer name: VT ED & HEALTH BUILDINGS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/22/2008 Schedule K, Part IV, Line 2c COLUMN B Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 06/16/2010 Schedule K, Part IV, Line 2c COLUMN C Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 01/01/2011 Schedule K, Part IV, Line 2c COLUMN D Issuer name: VERMONT ECONOMIC DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 04/30/2012 X 2101 Market value X 28 2749462 Market value X OTHER 27 1214 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Miscellaneous - NUMBER OF CONTRIBUTIONS Other - OTHER NUMBER OF CONTRIBUTIONS Form 990, Part VI, Line 11b Review of form 990 by governing body ALL MEMBERS OF THE BOARD OF TRUSTEES RECEIVE A DRAFT OF THE FORM 990 FOR THEIR REVIEW AND COMMENTS. AFTER ALL OF THEIR COMMENTS AND QUESTIONS WERE ADDRESSED, CHANGES OR CORRECTIONS WERE MADE PRIOR TO SUBMISSION OF THE FINAL FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy 1. TRUSTEES, OFFICERS AND KEY EMPLOYEES OF BENNINGTON COLLEGE SHALL AVOID PLACING THEMSELVES IN POSITIONS IN WHICH THERE MAY BE CONFLICT BETWEEN THEIR PERSONAL INTERESTS AND THEIR DUTIES TO BENNINGTON. 2. A CONFLICT OF INTEREST EXISTS WHEN THERE IS THE POTENTIAL THAT A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY OBTAIN A DIRECT OR INDIRECT PECUNIARY OR OTHER PERSONAL BENEFIT, OR ANY OTHER IMPROPER GAIN OR ADVANTAGE, AT THE EXPENSE OF THE INTERESTS OF THE COLLEGE, OR WHEN A TRUSTEE, OFFICER, OR KEY EMPLOYEE OF THE COLLEGE ACCEPTS A GIFT OR OTHER FAVOR UNDER CIRCUMSTANCES FROM WHICH IT MIGHT BE INFERRED THAT SUCH FIGTS WERE INTENDED TO INFLUENCE THE PERFORMANCE OF DUTIES FOR THE COLLEGE. 3. INDIVIDUALS COVERED BY THIS POLICY HAVE A DUTY TO VOLUNTARILY SELF-DISCLOSE TO THE CHAIR OF THE BOARD OF TRUSTEES (UNLESS THE DISCLOSURE IS BY THE CHAIR, IN WHICH EVENT IT SHALL BE MADE TO THE VICE CHAIR) ANY POTENTIAL CONFLICT OF INTEREST: (1) PRIOR TO ASSUMING THEIR RESPONSIBILITIES, AND (2) AT THE TIME ANY POTENTIAL CONFLICT ARISES. IN THE CASE OF DISCLOSURE BY A KEY EMPLOYEE UNRELATED TO THE PROCEEDINGS OF THE BOARD OF TRUSTEES, THE DISCLOSURE SHALL BE MADE TO THE PRESIDENT. 4. EACH PROPOSED TRANSACTION IN WHICH IT IS DISCLOSED OR OTHERWISE KNOWN TO THE BOARD OR TO MANAGEMENT THAT A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY HAVE A CONFLICT OF INTEREST SHALL BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR SUCH ACTION AS THE EXECUTIVE COMMITTEE MAY DETERMINE AND REPORTED TO THE BOARD OF TRUSTEES. 5. ANY INDIVIDUAL COVERED BY THIS POLICY SHALL NOT VOTE OR USE THAT INDIVIDUAL'S PERSONAL INFLUENCE ON ANY MATTER WITH RESPECT TO WHICH THE INDIVIDUAL BELIEVES HIM OR HERSELF TO HAVE A CONFLICT OF INTEREST, OR WITH RESPECT TO WHICH THE EXECUTIVE COMMITTEE HAS DETERMINED PURSUANT TO PARAGRAPH 4 THAT THE INDIVIDUAL HAS A CONFLICT OF INTEREST SUBJECT TO THIS POLICY. 6. ALL DISSENTING VOTES AND ABSTENTIONS FROM VOTING SHALL BE DULY NOTED IN THE MINUTES OF ALL MEETINGS OF THE BOARD AND ITS COMMITTEES 7. EACH TRUSTEE, OFFICER OR KEY EMPLOYEE SHALL SIGN A CONFLICT OF INTEREST STATEMENT IN ACCORDANCE WITH THE STATEMENT ATTACHED HERETO. 8. THE SECRETARY OF THE CORPORATION SHALL MAINTAIN A FILE OF INFORMATION DISCLOSED BY TRUSTEES, OFFICER AND KEY EMPLOYEES. SUCH FILE OF INFORMATION SHALL BE AMENDED ANNUALLY ON SUCH DATE AS THE BOARD OF TRUSTEES SHALL DETERMINE. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION FOR THE PRESIDENT WAS ESTABLISHED IN HER EMPLOYMENT CONTRACT, WHICH WAS ENTERED INTO IN 2013. THE COMPENSATION WAS SET AFTER A REVIEW OF DATA FROM PERTINENT INSTITUTIONS. Form 990, Part VI, Line 19 Required documents available to the public BENNINGTON COLLEGE MAKES FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST, AS REQUIRED. ALL OTHER DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 182453, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 182453; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF INVESTMENT RETURN ON LONG-TERM INVESTMENTS - -50406; CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS - -1548851; CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - -463000; PART VII - COMPENSATION SECTION A ELIZABETH COLEMAN WAS THE FORMER PRESIDENT OF THE COLLEGE. SHE THEN TRANSFERRED TO THE POSITION OF DIRECTOR OF THE CENTER FOR THE ADVANCEMENT OF PUBLIC ACTION. THE BASE COMPENSATION REPORTED REFLECTS HER COMPENSATION AS THE DIRECTOR OF THE CENTER FOR THE ADVANCEMENT OF PUBLIC ACTION. THE OTHER REPORTABLE COMPENSATION REFLECTS A ONE YEAR SABBATICAL TO WHICH SHE WAS ENTITLED BUT DID NOT TAKE, DURING HER TIME AS PRESIDENT OF THE COLLEGE. FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION BENNINGTON COLLEGE IS A LIBERAL ARTS EDUCATIONAL INSTITUTION LOCATED IN BENNINGTON, VERMONT. THE UNDERGRADUATE AND GRADUATE ENROLLMENT IS MORE THAN 750 STUDENTS. ORGANIZATION'S MISSION: THE MEN AND WOMEN WHO BROUGHT BENNINGTON COLLEGE INTO BEING SOUGHT TO CREATE A COLLEGE THAT WOULD EMPHASIZE "THE INDIVIDUAL STUDENT AND HER DEVELOPING INTERESTS," LEARNING "BY ACTIVITY AND LIVING," A COMMUNITY LIFE DESIGNED TO "BREAK DOWN ARTIFICIAL BARRIERS BETWEEN TEACHER AND STUDENT AND BETWEEN CURRICULUM AND EXTRA CURRICULUM," AND "A CONSCIOUS ELASTICITY IN EDUCATIONAL PLANS." THE PRINCIPLE OF LEARNING BY PRACTICE AND THE EMPHASIS ON THE INDIVIDUAL UNDERLIE EVERY MAJOR FEATURE OF A BENNINGTON EDUCATION: THE CLOSE WORKING RELATIONSHIP BETWEEN STUDENT AND TEACHER, THE INSISTENCE ON SELF-DETERMINATION, THE COMMITMENT TO LEARNING ACROSS THE DISCIPLINES, AND THE FIELD WORK TERM, WHICH GIVES STUDENTS WORK EXPERIENCE AND CONNECTS THEM TO THE GREATER COMMUNITY. THE PLAN PROCESS, THROUGH WHICH STUDENTS DESIGN THEIR ACADEMIC EXPERIENCES AND NAVIGATE THEIR BENNINGTON EDUCATION, EMBODIES THE COLLEGE'S MISSION. ALSO KEY TO BENNINGTON'S PHILOSOPHY IS THE CONVICTION THAT A COLLEGE EDUCATION SHOULD NOT MERELY PROVIDE PREPARATION FOR GRADUATE SCHOOL OR A CAREER, BUT SHOULD BE AN EXPERIENCE VALUABLE IN ITSELF AND THE MODEL FOR A LIFELONG HABIT OF LEARNING. IN THE 1930'S THE COLLEGE'S FIRST PRESIDENT, ROBERT DEVORE LEIGH, DEVELOPED A STATEMENT DESCRIBING BENNINGTON'S GUIDING IDEALS. THIS STATEMENT - WHICH WAS READ AT THE FIRST COMMENCEMENT IN 1936 AND HAS BEEN PART OF EVERY COMMENCEMENT SINCE - CONTINUES TO EXPRESS THE COLLEGE'S MISSION AND PURPOSES. COMMENCEMENT STATEMENT BENNINGTON REGARDS EDUCATION AS A SENSUAL AND ETHICAL, NO LESS THAN AN INTELLECTUAL, PROCESS. IT SEEKS TO LIBERATE AND NURTURE THE INDIVIDUALITY, THE CREATIVE INTELLIGENCE, AND THE ETHICAL AND AESTHETIC SENSIBILITY OF ITS STUDENT, TO THE END THAT THEIR RICHLY VARIED NATURAL ENDOWMENTS WILL BE DIRECTED TOWARD SELF-FULFILLMENT AND TOWARD CONSTRUCTIVE SOCIAL PURPOSES. WE BELIEVE THAT THESE EDUCATIONAL GOALS ARE BEST SERVED BY DEMANDING OUR STUDENTS' ACTIVE PARTICIPATION IN THE PLANNING OF THEIR OWN PROGRAMS, AND IN THE REGULATION OF THEIR OWN LIVES ON CAMPUS. STUDENT FREEDOM IS NOT THE ABSENCE OF RESTRAINT, HOWEVER; IT IS RATHER THE FULLEST POSSIBLE SUBSTITUTION OF HABITS OF SELF-RESTRAINT FOR RESTRAINT IMPOSED BY OTHERS. THE EXERCISE OF STUDENT FREEDOM IS THE VERY CONDITION OF A MEANINGFUL EDUCATION, AND AN ESSENTIAL ASPECT OF THE NURTURE OF FREE CITIZENS, DEDICATED TO CIVILIZED VALUES AND CAPABLE OF CREATIVE AND CONSTRUCTIVE MEMBERSHIP IN MODERN SOCIETY. BC CAMPUS HOLDINGS LLC (INACTIVE THROUGH 63016) 177 CAMPUS ROAD BENNINGTON VT 05201 811952664 FINANCING VT 0 0 BENNINGTON COLLEGE CORPORATION BENNINGTON COLLEGE REST & CATERERS LTD ONE COLLEGE DRIVE BENNINGTON VT 05201 030287721 INACTIVE VT NA C Corporation 1.00 true CHARITABLE REMAINDER TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST CT NA Trust 5873037 87936 true PERPETUAL TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST VA NA Trust 17814 385536 true PERPETUAL TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST MN NA Trust 83480 1558292 true LEAD TRUST (1) ONE COLLEGE DRIVE BENNINGTON VT 05201 TRUST NA Trust 51420 0 true false false false false false false false false false false false false false false false false false false false