2016-11-15T10:26:51-06:00 2015-12-31 990 2015-01-01 231352008 The American College AMER 6105261000 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 Yi Tang Chief Financial & Risk Officer 6105261308 2016-11-14 2015 2017-02-10 21:41:12Z The American College of Financial Services Robert R Johnson 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 45065265 0 X www.theamericancollege.edu X 1927 PA The mission of The American College of Financial Services is to raise the level of professionalism in financial services by promoting ongoing education, ethical practices, and the pursuit of new knowledge for the benefit of society. 43 42 245 90 0 0 4218209 6231051 30064514 28956336 1555994 3402248 1633680 4266821 37472397 42856456 81137 228252 0 0 18828357 19822641 146409 121710 1928738 17010708 17739863 36066611 37912466 1405786 4943990 63883457 64599068 11130598 9810369 52752859 54788699 X The mission of The American College of Financial Services is to raise the level of professionalism in financial services by promoting ongoing education, ethical practices, and the pursuit of new knowledge for the benefit of society. 0 0 16392859 143084 22721217 The Huebner School administers the curriculum leading to the CLU, ChFC, RICP, RHU, REBC, CLF, CASL, ChHC, and ChSNC professional designations. There are approximately 19,300 students enrolled in these programs. 2016150 1618 2062602 The FSCP Program administers the curriculum leading to the FSCP and until June 30, 2015 the LUTCF professional designations. There are approximately 4,900 students enrolled in these programs. 3308454 83550 3152624 The Irwin Graduate School administers the curriculum leading to the Master of Science in Management, the Master of Science in Financial Services, the Chartered Advisor in Philanthropy (CAP) designation and Management, and the Doctoral Program in Financial and Retirement Planning. There are approximately 1,260 students enrolled in these programs. 633569 386089 The College's Customized Corporate Consulting Center provides customized training and education to client companies in the financial services arena utilizing its full-time and adjunct faculty and state-of-the-art learning center to make their employees better educated and more productive. 721236 93805 The College provides products to aid financial service professionals studying for the Chartered Financial Analyst designation. 1354805 479894 23072268 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 208 0 1 245 1 0 0 0 0 0 0 0 0 0 0 X 43 42 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CO KY MD MA MI NH NY OH OK OR WA X John G Wells 6105261510 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 David M Anderson Trustee 1.00 X 0 0 0 Wendy A Benson Trustee 1.00 X 0 0 0 Lee V Bethel Trustee 1.00 X 0 0 0 Christopher O Blunt Trustee 1.00 X 0 0 0 James J Carbone Trustee 1.00 X 0 0 0 Ron Carson Trustee 1.00 X 0 0 0 Edward W Cassidy Trustee 1.00 X 0 0 0 George I Connolly Trustee 1.00 X 0 0 0 Susan M Cooper Trustee 1.00 X 0 0 0 Michael J Corey Trustee 1.00 X 0 0 0 Ralph L Crews Trustee 1.00 X 0 0 0 J Scott Davison Trustee 1.00 X 0 0 0 Michael Doughty Trustee 1.00 X 0 0 0 Caroline Feeney Trustee 1.00 X 0 0 0 Anthony J Garcia Trustee 1.00 X 0 0 0 Campbell T Gerrish Trustee 1.00 X 0 0 0 Peter A Golato Trustee 1.00 X 0 0 0 Randall H Harbert Trustee 1.00 X 0 0 0 Thomas H Harris Trustee 1.00 X 0 0 0 Salene Hitchcock-Gear Trustee 1.00 X 0 0 0 Gary T Huffman Trustee 1.00 X 0 0 0 Fred H Jonske Trustee 1.00 X 0 0 0 Paul A LaPiana Trustee 1.00 X 0 0 0 Anna Long Trustee 1.00 X 0 0 0 Eugene F Lovasco Trustee 1.00 X 0 0 0 James J Meehan Trustee 1.00 X 0 0 0 James A Mitchell Trustee 1.00 X 0 0 0 Linda S Need Trustee 1.00 X 0 0 0 Scott R Perry Trustee 1.00 X 0 0 0 Robert B Plybon Trustee 1.00 X 0 0 0 Phillip C Richards Trustee 1.00 X 0 0 0 Albert J Schiff Trustee 1.00 X 0 0 0 Todd M Schoon Trustee 1.00 X 0 0 0 Robert D Shapiro Trustee 1.00 X 0 0 0 Frederick J Sievert Trustee 1.00 X 0 0 0 Jon S Stenberg Trustee 1.00 X 0 0 0 Thomas P Tooley Trustee 1.00 X 0 0 0 Leo C Tucker Trustee 1.00 X 0 0 0 Tina M Valenzuela Trustee 1.00 X 0 0 0 Mary A Weiss Trustee 1.00 X 0 0 0 Robert J Wernecke Trustee 1.00 X 0 0 0 Doyle J Williams Trustee 1.00 X 0 0 0 Robert R Johnson President & CEO 39.00 1.00 X 503498 0 14996 Keith Hickerson Executive Vice President & COO 39.00 1.00 X 379346 0 20435 Neal R Fegely Chief Financial & Risk Officer 39.00 1.00 X 386087 0 36309 John G Wells Treasurer & Controller 40.00 X 108688 0 10208 Charles T Cronin Senior Vice President - Advancement 39.00 1.00 X 245142 0 14533 Jack Hondros Chief Marketing Officer 40.00 X 328437 0 27635 Edward McEvoy Chief Technology Officer 40.00 X 260509 0 16897 Walter Woerheide Chief Academic Officer 40.00 X 269848 0 35372 Craig Lemoine Associate Professor of financial Planning 40.00 X 288510 0 20219 David Littell Profession of Taxation 40.00 X 264192 0 17074 Paul Tanella Vice President - Sales 40.00 X 265885 0 12714 Kevin Lynch Assistant Professor of Insurance 40.00 X 251397 0 21411 Glenn Boseman Dean - Graduate School 40.00 X 255637 0 21287 3807176 0 269090 50 0 1 0 ARC Intermedia LLC 1150 First Avenue Suite 501 King of Prussia PA 19406 Marketing consulting 259295 Sloan & Company 7 Times Square tower New York NY 10036 Public Relations consulting 185436 Sierra-Cedar Inc PO Box 402521 Atlanta GA 303842521 Systems Consulting 151165 Harris Connect LLC PO Box 29920 New York NY 100879920 Fundraising Solicitation 116049 Mercer Inc 21875 Network Place Chicago IL 606731218 Investment Consulting 115000 6 267000 5964051 14536 6231051 Solomon S. Huebner Sch 611310 22721217 22721217 Richard D. Irwin Gradu 611310 3152624 3152624 FSCP and LUTC Programs 611310 2602602 2602602 Customized Corporate C 611310 386089 386089 Chartered Financial An 611310 93804 93804 28956336 1048547 1048547 4418894 2065193 2353701 2353701 2353701 40700 267000 143616 -102916 -102916 PACE Fees 611310 1590598 1590598 Knowledge Summit 611310 1577320 1577320 Sale of CFA content 611310 350000 350000 851819 851819 4369737 42856456 33326073 0 3299332 228252 228252 2921182 262215 2405588 253379 13337743 10304556 2438275 594912 92384 92384 2350842 2580329 -417729 188242 1120490 1120490 354839 244073 94146 16620 86004 86004 121710 121710 1259958 756381 417446 86131 1470928 1351313 43325 76290 769974 332732 408258 28984 1148624 1057880 90569 175 25192 25192 1780811 63546 1717265 719242 462982 205594 50666 5957039 4265954 1389255 301830 1022491 1022491 435581 243053 192528 Printing and Publicatio 824385 784653 30352 9380 Bad Debt Expense 747115 91121 655994 0 Bank Service Charges 453542 0 453542 0 Professional Developmen 179721 83325 93933 2463 504417 177764 321225 5428 37912466 23072268 12911460 1928738 3703552 5508648 3359266 4377421 3783526 3033278 379623 284533 617435 984170 19387676 16815438 3042675 2572238 46294602 45557137 2702778 2281643 63883457 64599068 5491432 5450587 1319255 1014207 4319911 3345575 11130598 9810369 X 39740661 38664133 13012198 16124566 52752859 54788699 63883457 64599068 X 4943990 -4269276 1361126 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 7319 8242 971 0 16532 250000 250000 250000 250000 1000000 1500000 52954618 8759660 -837681 2029030 58847567 49808428 2977808 1120383 952001 52954618 43310907 3540277 3952710 0 50803894 34956582 5642329 3687000 975004 43310907 34827356 1711521 -301942 1280353 34956582 0.40520 0.48140 0.11340 0 1 1 4934608 3355765 1578843 14453068 13459673 993395 2572238 University City Science Center stock 1000 F Investment portfolio 45556137 F 45557137 Accrued pension costs 3267765 Annuity obligations 77810 3345575 X 39974570 -4269276 1387390 -2881886 42856456 0 42856456 37912466 0 37912466 0 37912466 Part V, Line 4: Endowment funds are solicited and managed by the American College Foundation - EIN 23-3015130 - in support of the mission of the American College subject to Donor/fund restrictions. Part X, Line 2: The Internal Revenue Service has classified The American College and the Foundation as exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code ("Code"); as organizations, contributions to which are deductable under Section 170(c) of the Code; and as organizations that are not private foundations as defined in Section 509(a) of the Code. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken and recognize a tax liability, if the College has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax position taken by the College and has concluded that as of December 31, 2015 and 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The College recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax related interest and penalties recorded for the years ended December 31, 2015 and 2014. Part XI, Line 2d - Other Adjustments: Transfers from the American College Foundation - EIN 23-3015130 1808992. Net decrease in life insurance cash surrender value -421602. 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The non-discrimination policy is published in our brochures, on our admission an matriculation forms, and appears on the College's website as part of its privacy policy. Schedule E, Part I, Line 4 The American College neither requests nor requires ethnic or gender information from students who are matriculating or enrolling for courses at the graduate or designation level. The American College neither requests nor requires ethnic or gender information from students who are applying for scholarships to its graduate or designation programs. X X X 1 Harris Connect 1511 Rt 22 - Suite C-25 Brewster NY 10509 Phone solicitation 0 84659 114310 -29651 Schultz & Williams Inc 5 Chestnut St Suite 700 Philadelphia PA 191062422 Campaign consulting 0 0 7400 -7400 84659 121710 -37051 AL AK AZ AR CO CT FL GA HI IL KS KY LA MN MD ME MA MI MO MS NH NM NJ NY NC ND OH OK OR PA RI DC TN UT VA WA WV WI CA Veteran's Center Clambake 307700 267000 40700 120616 23000 307700 267000 40700 120616 23000 143616 -102916 1 Tuition assistance 79 228252 Part I, Line 2: The College awards scholarships from restricted funds to veterans who enroll in its degree or designation programs. These amounts are deducted directly from student accounts as they register for covered courses. X 1 0 X X X X 0 0 0 1 0 1 0 0 0 Robert R Johnson President & CEO 450000 0 0 0 53498 0 5761 0 9235 0 518494 0 0 0 Keith Hickerson Executive Vice President & COO 300000 0 60000 0 19346 0 17225 0 3210 0 399781 0 0 0 Neal R Fegely Chief Financial & Risk Officer 288500 0 25000 0 72587 0 20534 0 15775 0 422396 0 0 0 Charles T Cronin Senior Vice President - Advancement 188846 0 50000 0 6296 0 12275 0 2258 0 259675 0 0 0 Jack Hondros Chief Marketing Officer 220000 0 55000 0 53437 0 12015 0 15620 0 356072 0 0 0 Edward McEvoy Chief Technology Officer 193846 0 50000 0 16663 0 15508 0 1389 0 277406 0 0 0 Walter Woerheide Chief Academic Officer 177490 0 0 0 92358 0 12418 0 22954 0 305220 0 0 0 Craig Lemoine Associate Professor of financial Pla 124213 0 0 0 164297 0 7497 0 12722 0 308729 0 0 0 David Littell Profession of Taxation 118861 0 2433 0 142898 0 8679 0 8395 0 281266 0 0 0 Paul Tanella Vice President - Sales 159933 0 85175 0 20777 0 10396 0 2318 0 278599 0 0 0 Kevin Lynch Assistant Professor of Insurance 104967 0 0 0 146430 0 8055 0 13356 0 272808 0 0 0 Glenn Boseman Dean - Graduate School 182314 0 0 0 73323 0 13824 0 7463 0 276924 0 0 0 Part I, Line 1a The President & CEO's spouse accompanies him on trips to Board meetings and other events where she entertains trustee spouses, holding breakfasts, lunches, and leading tours and other outings. The President & CEO must obtain approval from the Board chairman each time his spouse accompanies him. Part I, Line 3 The College's Compensation Committee, composed of Board members, determines the base compensation and annual incentive award of the President & CEO. They also review and approve the President & CEO's recommendations for other members of the College's senior leadership team. The award amounts are tied to individual performance and based on a qualitative evaluation of the accomplishment of goals that are determined at the beginning of the year. Part I, Line 5 The President & CEO, the Executive Vice President & Chief Operating Officer (EVP & COO), the Chief Financial & Risk Officer (CFRO), the Chief Marketing Officer (CMO), and the Chief Technology Officer(CTO) each had a two-year performance incentive that ran from January 1, 2014 through December 31, 2015. The plan consisted of five distinct elements and included meeting consolidated revenue and operating margin targets (including both the College and the American College Foundation EIN 23-3015130) as two of the criteria which were weighted between 10% and 30% of the elements of the plan. The covered individuals were required to be on staff as of December 31, 2015 in order to be eligible for the award that is payable in one-third installments between 2016 and 2018. Part I, Line 6 The President & CEO, the Executive Vice President & Chief Operating Officer (EVP & COO), the Chief Financial & Risk Officer (CFRO), the Chief Marketing Officer (CMO), and the Chief Technology Officer(CTO) each had a two-year performance incentive that ran from January 1, 2014 through December 31, 2015. The plan consisted of five distinct elements and included meeting consolidated revenue and operating margin targets (including both the College and the American College Foundation EIN 23-3015130) as two of the criteria which were weighted between 10% and 30% of the elements of the plan. The covered individuals were required to be on staff as of December 31, 2015 in order to be eligible for the award that is payable in one-third installments between 2016 and 2018. Albert J Schiff Trustee 20125 Trustee is an officer of a firm that was engaged to perform consulting services for the Human Resources Department at the College.Before the services were performed this was discussed with the Board and the trustee received approval to perform the requested services. 0 Form 990, Part VI, Section A, line 2 Three trustees on the College's Board have an equity interest in an organization that makes contributions to the College but does not otherwise conduct business with the College. Form 990, Part VI, Section B, line 11 The Form 990 is completed by Finance staff and reviewed by the Chief Finance & Risk Officer for accuracy and completeness. It is then reviewed by the College's independent auditors. Once these steps are completed, it is presented to the College's Board of Trustees for their review. This process involves sending the completed Form electronically with time for addressing any questions prior to filing. Form 990, Part VI, Section B, line 12c All members of the College's Board of Trustees and defined administrative employees are required to complete the conflict of interest form annually. The returned forms are tabulated to ensure 100% response. The results of the responses are communicated to the Audit & Risk Committee by the Chief Financial & Risk Officer. Any positive responses are reviewed by the Audit & Risk Committee and independent auditors and appropriate action is recommended. Form 990, Part VI, Section B, line 15 The College has a relationship with an independent compensation consultant who provides information as requested by the Compensation Committee for deliberation. Annually, the Compensation Committee will approve the compensation of the President & CEO and select leadership staff with input from the independent consultant. The President & CEO will recommend and obtain Board (Compensation Committee) approval for the compensation for the key employees/disqualified persons. Historically, the data is compared with data provided by the compensation consultant. If there are any concerns, the Committee would contact the compensation consultant. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Form 990, Part XI, line 9: Transfers from The American College Foundation EIN 23-3015130 1808992. Increase in minimum pension liability -26264. Decrease in life insurance cash surrender value -421602. Form 990, Part XII, Line 2c: The Audit & Risk Committee is responsible for the oversight of the audit and the selection of the indepedent accountant. This process remains unchanged from the prior year. The American College Foundation 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 233015130 Solicit and manage funds for the benefit of The American College PA 501(c)(3) Line 11a, I The American college 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1