2017-05-08T10:03:38-07:00 2016-06-30 990 2015-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 Lynne Lochte VP Finance and Admin. 4103376572 2017-05-08 2015 2021-01-29 14:40:06Z Jose Antonio Bowen 1021 Dulaney Valley Road Baltimore MD 21204 184241171 0 X www.goucher.edu X 1885 MD Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 36 35 1892 780 792257 0 10265011 9926402 78058658 81617725 8839029 19239488 1928325 2057907 99091023 112841522 29501817 32556459 0 0 40167341 41284077 37250 40024 2730656 32797261 31892501 102503669 105773061 -3412646 7068461 387418902 372444600 107925481 110422931 279493421 262021669 Goucher College is dedicated to a liberal arts education that prepares students within a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. 0 0 83105222 31506510 74823764 The College provided an undergraduate Arts and Sciences education to 1,478 students. 4840278 1049949 6223491 The College provided a graduate education to 699 students. 674023 0 570470 The College provided credit and non-credit continuing studies course work for 393 participants. 344311 0 385816 The College provides summer programming to a variety of constituencies. 344311 0 385816 88963834 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 1 3436 0 1 1892 1 1 1 1 BD CJ 0 0 0 1 1 0 0 0 0 X 36 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR FL MA MD MI NJ NY OH OK OR WA X Ronald Alex Antkowiak 4103376060 1021 Dulaney Valley Road Baltimore MD 21204 Kimara Ahnert-Class of 91 Trustee 2 0 X 0 0 0 Patricia K Batza-Class of 91 Trustee 2 0 X 0 0 0 David I Bavar Trustee 2 0 X 0 0 0 Melinda J Burdette-Class of 72 Trustee 2 0 X 0 0 0 William Couper-Class of 03 Parent Trustee 2 0 X 0 0 0 Richard J Davis Trustee 2 0 X 0 0 0 Joey Fink-Class of 2015 Trustee 2 0 X 0 0 0 Lynn Toby Fisher-Class of 71 Trustee 4 0 X X 0 0 0 Norma Lynn Fox-Class of 76 Trustee 3 0 X 0 0 0 Elaine K Freeman Trustee 2 0 X 0 0 0 Jon Gould-Class of 2013 Trustee 3 0 X 0 0 0 Alice Falvey Greif-Class of 51 Trustee 1 0 X 0 0 0 Todd Hawkins-Class of 2010 Trustee 2 0 X 0 0 0 Carla Diane Hayden Trustee 2 0 X 0 0 0 Sally M Herman-Class of 68 Trustee 3 0 X 0 0 0 Jessie Holland - Class of 2012 Trustee 1 0 X 0 0 0 Miriam Brown Hutchins-Class of 73 Trustee 3 0 X X 0 0 0 Miriam E Katowitz-Class of 73 Trustee 12.00 0 X X 0 0 0 Florence Beck Kurdle-Class of 61 Trustee 2 0 X 0 0 0 Ruth Shapiro Lenrow-Class of 74 Trustee 10.00 0 X X 0 0 0 Nancy Helen Marcus-Class of 72 Trustee 3 0 X 0 0 0 Jennifer Margolis Marquez -Class 01 Trustee 2 0 X 0 0 0 Rachel Martin-Class of 2014 Trustee 2 0 X 0 0 0 Percy Thomas Moore-Class of 95 Trustee 2 0 X 0 0 0 Paul Powell-Class of 2003 Trustee 2 0 X 0 0 0 Robert J Proutt Trustee 4 0 X 0 0 0 William E Pugh II-Class of 94 Trustee 3 0 X 0 0 0 Ralph Segall Trustee 3 0 X 0 0 0 Lisa Pagliaro Selz Class of 73 Trustee 2 0 X 0 0 0 Robin Fogel Shaivitz-Class of 72 Trustee 2.50 0 X 0 0 0 Stewart Thomsen Trustee 2 0 X 0 0 0 Betsy Leebron Tutelman-Class of 74 Trustee 2 0 X 0 0 0 Theodore Venetoulis Trustee 2 0 X 0 0 0 Stacy Brown Vermylen Class of 73 Trustee 3 0 X 0 0 0 Marilyn Southard Warshawsky-Class68 Trustee 2 0 X 0 0 0 Toby Wertheim-Class of 68 Trustee 3 0 X 0 0 0 Wendy S White Class of 72 Trustee 2 0 X 0 0 0 Jerrian Myers Wilson Class of 62 Trustee 2 0 X 0 0 0 Margaret Messler Winslow-Class of69 Trustee Emerita 1 0 X 0 0 0 Jose' Antonio Bowen President 40 0 X X 338320 0 54188 Trishana Bowden Vice President for Advancement 40 0 X 99692 0 14952 Bryan Coker Vice President and Dean of Students 40 0 X 135944 0 32612 Tammi Jackson VP for Finance through 9/30/2016 40 0 X 190038 0 17626 William Leimbach Vice President for Information Technology and Planning 40 0 X 159963 0 19473 Leslie Lewis Provost and Vice President for Academic Affairs 40 0 X 103416 0 11861 Lynne Lochte Vice President for Finance and Administration 40 0 X 177832 0 19481 Deborah Lupton Vice President for Human Resources 40 0 X 130612 0 17208 Margaret-Ann Radford-Wedemeyer Retired Vice President for Development and Alumni Affairs 40 0 X 140139 0 25898 Marc Roy Provost through 6/30/15 40 0 X 114421 0 19647 Barbara Stob General Counsel 40 0 X 148016 0 22644 Martin Sweidel Senior Vice President for Strategic Initiatives 40 0 X 215202 0 30287 Ali Bakhshai Retired Professor 40 0 X 188950 0 27886 George Delahunty Professor 40 0 X 134340 0 30449 Shirley Peroutka Retired Professor 40 0 X 139173 0 43158 Eric Singer Director of International Studies 40 0 X 144053 0 16440 Sanford J Ungar Past President effective 7/1/2014 0 0 X 204975 0 33645 2765086 0 437455 38 1 1 0 The Whiting-Turner Contracting Company 14900 Conference Center Drive Chantilly VA 20151 General contracting services 10875419 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 4900215 Ayers Saint Gross Inc 1040 Hull Street Suite 100 Baltimore MD 21230 Construction design services 1879364 Cisco Systems Capital Corporation 170 West Tasman Drive San Jose CA 95134 Equipment Leasing and Maintenance 584987 M Nelson Barnes & Sons 117 Church Lane Cockeysville MD 21030 Contractor and general maintenance 311533 23 0 0 149953 0 2175039 7601410 2153313 9926402 Undergraduate tuition, fees, room and board 611310 74823764 74823764 0 0 Graduate tuition, fees room and board 611310 6223491 6223491 0 0 Continuing professional education 611310 570470 570470 0 0 0 0 0 0 81617725 2358478 0 83817 2274661 0 0 0 0 0 0 0 0 13729 0 8305 0 5424 0 5424 0 0 5424 83477929 4674913 68786398 2485434 14691531 2189479 16881010 0 6318 16874692 59697 149953 119512 -59815 0 -59815 0 0 0 0 0 0 0 0 0 0 0 0 Facility rental 531120 437561 437561 0 0 Summer camps 611620 385816 0 385816 0 Pilates center 611699 291537 0 291537 0 997384 972615 24769 0 2112298 112841522 83027901 792257 19094962 0 0 32556459 32556459 0 0 0 0 2149539 686580 843304 619655 0 0 0 0 31507687 24489243 5965394 1053050 1388738 1305414 69437 13887 4009882 3195592 674644 139646 2228231 1731885 421874 74472 0 0 0 0 133544 7696 125848 0 72500 0 72500 0 13833 820 13013 0 40024 40024 959170 0 959170 0 1858926 1075721 666309 116896 580350 150830 273593 155927 2734786 1906018 728218 100550 1185570 224824 882317 78429 0 0 0 0 2987197 1837445 1133995 15757 1791441 1608602 40732 142107 0 0 0 0 541426 494223 40805 6398 2869800 2869800 0 0 0 0 0 0 8726132 8202564 436307 87261 474321 0 474321 0 Food Service Costs 4280759 4280759 0 0 Semester Abroad Expense 1804187 1804187 0 0 Miscellaneous Food 595532 449699 63674 82159 Other - administrative 283027 85473 193116 4438 105773061 88963834 14078571 2730656 15728810 9331609 0 0 1351966 1465928 1380402 1546237 0 0 0 0 2530341 2600560 0 0 240737 1027505 238525524 100450576 129614924 138074948 171827263 164944461 53299353 42534175 469900 469475 0 0 10975206 10449702 387418902 372444600 6802744 9111346 0 0 2870800 2781933 85128929 83119522 0 0 0 0 0 0 0 0 13123008 15410130 107925481 110422931 X 94559035 87233086 99985095 88745529 84949291 86043054 279493421 262021669 387418902 372444600 X 7068461 -23531143 0 0 0 -1009070 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 2265 0 1 11568 13833 0 Schedule C, Part II-B, Line 1 Members of Goucher's senior management team, faculty, staff and a select number of students participated in the annual Independent Higher Education Day on February 11, 2016. The event was sponsored by the Maryland Independent College and University Association (MICUA), of which Goucher is a member, and brought students and administrators from across the state to Maryland's capital for a briefing and visits with elected officials. In addition, members of Goucher's staff met with elected officials on behalf of the College. The associated compensation for these activities is reported on lines 1g. The organization paid membership dues of $7,003 to the National Association of Independent Colleges and Universities (NAICU) and $69,236 to the Maryland Independent Colleges and Universities Association (MICUA), both of which engage in lobbying activity. NAICU set aside 7% of the dues paid to engage in nondeductible lobbying and political expenditures. MICUA set aside 16 percent of the dues paid to engage in nondeductible lobbying and political expenditures. Accordingly, the College has reported an amount equal to 7 percent of the NAICU dues and 16 percent of the MICUA dues paid on line 1i. 0 0 X X X X X Education 0 216707000 2028000 -5460000 4324000 7469000 0 201482000 227559000 2118000 -2073000 3646000 7251000 0 216707000 197497000 3282000 35836000 2893000 6163000 0 227559000 183717000 4914000 17709000 2872000 5971000 0 197497000 188336000 3829000 788000 2889000 6347000 0 183717000 0.214 0.41 0.376 1 0 0 11713011 11713011 0 176691968 75549708 101142260 0 0 0 0 0 32948470 24900868 8047602 0 17172075 0 17172075 138074948 19800367 F 22733808 F 42534175 0 Other Long Term Liabilities 2210944 Refundable Advances from US Government 2536107 Payables under Split Interest Agreements 1476846 Asset Retirement Obligation 2321787 Obligation Under Interest Rate Swap Agreements 6864446 15410130 X 72033958 0 0 0 -22308298 -22308298 94342256 0 18499266 18499266 112841522 70782636 0 0 0 70154 70154 70712482 959170 34101409 35060579 105773061 Schedule D, Part III, Line 1 The College did not disclose its collection and related policies in its financial statements. Schedule D, Part III, Line 4 The College art collection is comprised of works of fine art, including two-dimensional and three-dimensional art objects and miscellaneous objects of value, which is owned by the College and are housed in buildings or on the campus grounds of the College, or are loaned by the College to other institutions. The collection includes sculptures, prints, photographs, drawings, paintings and other artistic objects. The collections is used for scholarly research, education and public exhibition in the furtherance of the exempt purposes of the College. Schedule D, Part V, Line 4 The endowment of Goucher College generates income to support the College both generally and in specific ways designated by our generous donors. Income, allocated across approximately 700 endowments, supports both merit and need-based scholarships of undergraduate and graduate students; undergraduate and graduate fellowships; undergraduate and graduate internships; professorships; lectureships; the College library; and the College's general operating budget. Schedule D, Part X, Line 2 The College is qualified as a not for profit organization under Section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for 2016 or 2015. Management has analyzed the tax positions taken by the College and has concluded that as of June 30, 2016 and 2015, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the accompanying financial statements. The College is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. Schedule D, Part XI, Line 2d Contra revenue of $31,940,885 related to student financial aid, $2,158,787 related to the cost of study abroad tuition, and $1,737 of bank fees were excluded from revenue and reclassified to expense (included in Part IX). In addition, Endowment assets appropriated for expenditure of $11,793,111 were excluded from revenue. Schedule D, Part XI, Line 4b Includes Endowment related gains (Realized gains of $16,534,116, interest income $2,029,880, net rental income of $5,424) included in Net realized an unrealized gains (losses) on investments in the financial statements, expenses related to fundraising events of $119,512 and reclassified contra expenses of $49,358). Schedule D, Part XII, Line 2d Direct expenses of $119,512 related to fundraising events and contra expense of $49,358 was reclassified to other revenue. Schedule D, Part XII, Line 4b Includes contra revenue of $31,940,885 related to student financial aid, $2,158,787 related to the cost of study abroad tuition, and $1,737 of bank fees. 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 racially nondiscriminatory policy is published in the College's academic catalogue, student handbook, and on the website. Schedule E, Part I, Line 6 The College participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity (SEOG), Federal Work Study Program, Perkins Loan Program, Federal Direct Student Loans, Federal Direct Parent Loans for Undergraduate Students, and Teacher Education Assistance for College and Higher Education.The College also receives grants from the Maryland State Department of Education. In addition, the College was awarded sponsored research and other program grants funded by NASA, NSF and the US Department of Education. Europe (including Iceland and Greenland) 0 1 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 868485 Central America and the Caribbean 0 0 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 157474 East Asia and the Pacific 0 1 Program Services Tuition, room, board and programming expenses for undergraduate students and staff studying abroad. 138396 South America 0 0 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 44103 Sub-Saharan Africa 0 0 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 38037 Middle East and North Africa 0 0 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 12895 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Tuition, room, board and program expenses for undergraduate students and staff studying abroad. 3057 Central America and the Caribbean 0 0 Investments 14479846 0 2 15742293 1 0 1 1 1 0 Schedule F, Part I, Line 3 The College, through its investment in various alternative assets, has interests in foreign corporations. However, the College's interest in any single foreign corporation was less than 10 percent. Accordingly, the College is not required to file Form 5471. Schedule F, Part IV, Line 1 The College is required to file Form 926 in the current year. Schedule F, Part IV, Line 4 The College, through its investment in various alternative assets and common collective trusts, was a direct or indirect shareholder of a passive foreign investment company or qualifying electing fund. In these cases, the investment manager filed Form 8621 on its investors behalf. Accordingly, the College is not required to file Form 8621. Schedule F, Part IV, Line 5 The College, through its investment in various alternative assets, had ownership in foreign partnerships. However, the College owned less than 10 percent of any foreign partnerships and it did not directly or indirectly transfer greater than $100,000 to any foreign partnership. Accordingly, the College is not required to file Form 8865. X X X X X X X 1 Nancy Landrum dba Signature Marketi 6112 Newport Terrace Frederick MD 21701 Nancy Landrum, dba Signature Marketing, is tasked with development of strategies, cultivation and solicitation of both individual and grant making organizations, administrative matters and donor stewardship in support of Goucher's Prison Education Partnership. 0 0 40024 -40024 0 40024 -40024 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY Alumni Gala 157025 117650 39375 0 308 39540 40487 5500 12533 Golf Fundraiser 35619 18415 17204 0 0 7000 10942 0 980 1 17006 13888 3118 0 0 0 0 300 1922 209650 149953 59697 0 308 46540 51429 5800 15435 119512 -59815 Schedule G, Part I, Line 2b(iv) The Goucher Prison Education Partnership received cash and pledges of $312,021 during the fiscal year. The College recognizes that the development specialist had a significant role in generating that revenue, but the College is unable to quantify the specific gross receipts allocable to the development specialist as fundraising was done in a collaborative environment at the direction and with the assistance of the Goucher Prison Education Partnership Director and the funds were receipted by the College. 1 Undergraduate and graduate student grants and scholarships made by the College 2001 0 32217841 Cash Value Tuition Credits Prizes, awards, internships and fellowships 219 338618 0 Cash Value Schedule I, Part I, Line 2 Goucher College's institutional grant funds are limited to need-based and merit-based financial assistance for attendance at the College. Goucher College's comprehensive program of need-based and merit-based financial assistance is managed by the Office of Student Financial Aid. As a member of the College Board and in keeping with the principles and practices of the College Scholarship Service, need-based financial aid is awarded to properly qualified candidates on the basis of financial need of students and their families. Financial need is determined by subtracting the Expected Family Contribution -as calculated on the Free Application for Federal Student Aid (FAFSA) and the Profile Form of the College Scholarship Service - from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with those requirements is also overseen by the Office of Student Financial Aid. X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Jose' Antonio Bowen President 318540 0 0 0 19745 0 16563 0 37625 0 392473 0 0 0 Bryan Coker Vice President and Dean of Students 135100 0 0 0 844 0 8938 0 23674 0 168556 0 0 0 Tammi Jackson VP for Finance through 9/30/2016 170750 0 0 0 19288 0 11173 0 6452 0 207663 0 0 0 William Leimbach Vice President for Information Technology and Planning 158155 0 0 0 1809 0 10138 0 9335 0 179437 0 0 Lynne Lochte Vice President for Finance and Administration 158613 0 0 0 19219 0 10625 0 8856 0 197313 0 0 0 Deborah Lupton Vice President for Human Resources 124849 0 0 0 5763 0 8288 0 8920 0 147820 0 0 0 Margaret-Ann Radford-Wedemeyer Retired Vice President for Development and Alumni Affairs 124473 0 0 0 15666 0 8861 0 17037 0 166037 0 0 0 Barbara Stob General Counsel 146644 0 0 0 1372 0 9555 0 13089 0 170660 0 0 0 Martin Sweidel Senior Vice President for Strategic Initiatives 212851 0 0 0 2351 0 12631 0 17656 0 245489 0 0 0 Ali Bakhshai Retired Professor 188564 0 0 0 386 0 11997 0 15889 0 216836 0 0 0 George Delahunty Professor 133718 0 0 0 622 0 7318 0 23131 0 164789 0 0 0 Shirley Peroutka Retired Professor 138971 0 0 0 202 0 8749 0 34409 0 182331 0 0 0 Eric Singer Director of International Studies 143329 0 0 0 724 0 8440 0 8000 0 160493 0 0 0 Sanford J Ungar Past President effective 7/1/2014 201370 0 0 0 3605 0 12951 0 20694 0 238620 0 0 0 Schedule J, Part I, Line 1a A residence and limited personal services are provided for the convenience of the President of the College. Occasionally, the College paid for transportation services for the President's spouse to attend college-related events. In addition, the College provides a de minimis gross-up payment to senior staff to cover the tax impact of long-term disability insurance. Schedule J, Part I, Line 4 The College maintains a 457(b) deferred compensation plan for certain senior staff. A MD Health and Higher Educational Facilities Authority 520936091 574218KW2 2012-08-30 22315289 Refund Series 2004 Revenue Bonds originally issued Aug. 18, 2004. 0 0 0 B MD Health and Higher Educational Facilities Authority 520936091 2012-09-26 52070000 Refund Series 1995, 1997, 1999, 2001 and 2007 Bonds 0 0 0 C MD Health and Higher Educational Facilities Authority 520936091 2012-10-18 15000000 Renovations to the former library and existing building structures. 0 0 0 A 0 0 22315289 469475 0 0 87289 0 0 0 0 0 2005 0 1 1 1 B 5435000 0 52070000 0 0 0 173610 0 0 0 0 0 2009 1 0 1 1 C 0 0 15000000 0 0 0 59001 0 0 14941000 0 0 2013 0 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 C 0 0 0 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 1 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 Schedule K, Part I, Column f-09/26/2012 52,070,000 MD Health and Higher Educational Facilities Autho Refunds Series 1995 Bonds (originally issued on 6/15/95); Series 1997 Bonds (originally issued on 9/27/97); Series 1999 Bonds (originally issued on 9/23/99); Series 2001 Bonds (originally issued on 10/1/01); and Series 2007 Bonds (originally issued on 10/31/07). Schedule K, Part III, Line 3a-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Auth The institution allocated equity to finance the cafe portion of the constructed facilities. Therefore, any management of service contracts related to the operation of the facility's cafe do not give rise to private business use since this space was not financed with proceeds of the bonds. Schedule K, Part IV, Line 6-08/30/2012 22,315,289 MD Health and Higher Educational Facilities Author Total interest earned on the proceeds held past the temporary investment period of 30 days on 2012A was less than $10. Joan Wilterdink Spouse of Officer 22721 Teaching Wages 0 Monica Sweidel Spouse of Officer 6600 Teaching Wages 0 X 2 0 Policy X 73 820833 FMV X Pledges 443 1328466 Pledge amount X Gift Annuity 1 4014 Net Present Value of Charitable Remainder X Horses and equestrian equipment 8 0 Policy 8 0 1 1 Schedule M, Part I, Line 32b Goucher College uses the services of Signature Marketing to solicit contributions directly in support of the Goucher Prison Education Partnership. Form 990, Part VI, Section B, Line 11b After review by the Audit and Governance Committee, the Form 990, excluding Schedule B (Contributor Information), and Form 990T were distributed electronically to the Board of Trustees on May 1, 2017 for a period of review and comment lasting 7 days. Schedule B was made available upon request. At the conclusion of the periods of comment and review, a meeting of the Audit and Governance Committee of the Board of Trustees was convened to review and revise (if necessary) the Forms 990 and 990T. The Forms were approved for filing by the Audit and Governance Committee of the Board of Trustees on May 8, 2017. Form 990, Part VI, Section B, Line 12c Every trustee, officer and key employee is provided a copy of the Conflict of Interest Policy each spring, and required to complete an annual disclosure form reporting any actual or potential conflicts of interest. General Counsel of the College reviews the disclosure forms and reports any disclosures to the Audit and Governance Committee of the Board of Trustees. Committee members then determine what, if any, action should be taken as to each disclosure and these actions are implemented by the General Counsel. The policy directs the committee to review and update the list of key employees, and the policy itself is reviewed on a regular basis and revised as necessary. Form 990, Part VI, Section B, Line 15 Each year the College President distributes to the Board of Trustees the President's Goals and Objectives ("Goals and Objectives") for the upcoming year, as well as provides periodic updates on current year goals. Each spring Goucher receives data from the College and University Professional Association (CUPA) on compensation at comparable institutions, including Goucher's peer group, other local colleges, and prospective overlap institutions. The Vice President for Human Resources prepares this information for review by the College President and by the Compensation Committee of the Board. In addition, each spring the Chair of the Board asks Board members to supply the Board Chair and the Chair of the Compensation Committee with any comments a Board member may have on the President's performance with respect to the Goals and Objectives. After reviewing all of these materials, the Compensation Committee meets with the President to review the President's compensation recommendations for senior staff and evaluate the President's performance. The Compensation Committee's role with respect to compensation for senior staff is to determine whether any recommendation from the President includes excess benefits. The Compensation Committee then reviews with the President the President's performance with respect to the President's Goals and Objectives, and then meets in executive session to determine its recommendation for the President's compensation. This recommendation is then considered by the Executive Committee of the Board of Trustees and final action is taken. The Compensation Committee Chair provides the General Counsel of the College with a confidential report of the deliberations of the Compensation Committee and the Executive Committee and of the Executive Committee's action. This report includes the CUPA comparability data on which the final determinations were based. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and audited financial statements are available to the public upon request. Most College policies and the audited financial statements are also available to the public on the College's website, www.goucher.edu. Form 990, Part XI, Line 9 Change in fair value of interest rate swap agreements. Pooled Income Fund (2) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (3) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity MD N/A T 0 Charitable Remainder Unitrust (1) 1021 Dulaney Valley Road Baltimore MD 21204 Annuity FL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Pooled Income Fund (2) s 52970 Transfer from Pooled Income Fund to Goucher College due to termination of annuitant contract.