2016-05-13T11:45:27-00:00 2015-06-30 KPMG LLP 755 Main Street Hartford CT 06103 990 2014-07-01 042103558 Trustees of the College of the Holy Cross TRUS 5087932514 1 College Street Worcester MA 016102395 Dorothy Hauver VP and Treasurer 2016-05-13 true Mary-Evelyn Antonetti 8602976085 2016-05-13 2014 2016-08-17 19:52:53Z Philip Boroughs SJ 1 College Street Worcester MA 016102395 476408325 false X holycross.edu X MA Holy Cross is a private, Jesuit liberal arts college dedicated to the pursuit of excellence in teaching, learning, service of faith and promotion of justice. 37 33 3364 250 1365587 -77264 53747383 90605654 169793580 176433683 31659979 40518794 198925 144173 255399867 307702304 46205787 49267556 0 95406240 100904353 101138 8899167 62921225 66355544 204533252 216628591 50866615 91073713 1028055784 1088802644 192398336 185239929 835657448 903562715 FOUNDED IN 1843, COLLEGE OF THE HOLY CROSS IS A HIGHLY SELECTIVE, FOUR YEAR COLLEGE OF APPROXIMATELY 2,900 STUDENTS. ONE OF THE NATIONS LEADING LIBERAL ARTS INSTITUTIONS, HOLY CROSS OFFERS AN ACADEMICALLY CHALLENGING AND PERSONALLY FULFILLING EDUCATION IN THE JESUIT TRADITION. false false 189161530 49267556 175737909 THE COLLEGE WAS A COMMUNITY OF 2.904 STUDENTS IN 2015. THE STUDENT POPULATION IS APPROXIMATELY HALF MEN AND HALF WOMEN FOR THE CLASS OF 2019. IN 2015, THERE WERE 724 INDIVIDUALS WHO COMPLETED THEIR MATRICULATION AND RECEIVED AN A.B. DEGREE. FINANCIAL ASSISTANCE WAS PROVIDED TO 54 OF STUDENTS. THE COLLEGE ADMITS QUALIFIED STUDENTS BASED ON THEIR APPLICATION, HIGH SCHOOL REPORT, AND TEACHER REFERENCES. THE COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, SEX, AGE OR HANDICAP IN ITS EDUCATIONAL, ADMISSIONS OR FINANCIAL AID POLICIES OR PROGRAMS. 695774 695774 BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY AND BIOLOGY. THE MAJORITY OF THE RESEARCH IS FUNDED BY PRIVATE GRANTS FROM FOUNDATIONS AND THE BALANCE OF THE FUNDING IS PROVIDED BY THE U.S. GOVERNMENT. 189857304 true true false true false false true true true true true true false false true true true false true true true false true true true false false true true true true false false false false false false false false false true true false false false true true true true false false true 4422 0 true 3364 true true true true GK false false false true true false false false false X 37 33 false false false false false false false true true false false true true true true true true true true true false CA MA NH X Charles F Estaphan 5087932514 1 College Street Worcester MA 016102395 Philip L Boroughs SJ President 045.00 X X 0 0 0 Kevin T Fitzgerald SJ Trustee 003.00 X 0 0 0 Ronald Amiot SJ Trustee 003.00 X 0 0 0 Michael G Barrett Trustee 003.00 X 0 0 0 Susan F Feitelberg Trustee 003.00 X 0 0 0 Anne M Fink Trustee 003.00 X 0 0 0 Thomas H Carey Trustee 003.00 X 0 0 0 Mark S Massa SJ Trustee 003.00 X 0 0 0 Michael E Daniels Trustee 003.00 X 0 0 0 William M Doran Jr Trustee 003.00 X 0 0 0 Robert S Morrison Trustee 003.00 X 0 0 0 Brian P Kelley Trustee 003.00 X 0 0 0 John B Fisher Trustee 003.00 X 0 0 0 Maria Eugenia Ferre Rangel Trustee 003.00 X 0 0 0 Ann McElaney-Johnson Trustee 003.00 X 0 0 0 David J Grain Trustee 003.00 X 0 0 0 Susan Power Curtin Trustee 003.00 X 0 0 0 Andrew J O'Brien Trustee 003.00 X 0 0 0 Kathleen McLaughlin LaCroix Trustee 003.00 X 0 0 0 Helen W Boucher Trustee 003.00 X 0 0 0 Brian F Linnane SJ Trustee 003.00 X 0 0 0 Nicholas J Pelletier Trustee 003.00 X 0 0 0 Cornelius B Prior Jr Trustee 003.00 X 0 0 0 John J Mahoney Jr Trustee/Chair 003.00 X X 0 0 0 William J Teuber Jr Trustee 003.00 X 0 0 0 Stuart E Graham Trustee 003.00 X 0 0 0 Richard H Patterson Trustee 003.00 X 0 0 0 William J Phelan Trustee 003.00 X 0 0 0 Carolyn M Risoli Trustee 003.00 X 0 0 0 Nancy M Taylor Trustee 003.00 X 0 0 0 Mary Murphy Westover Trustee 003.00 X 0 0 0 John Baldovin SJ Trustee 003.00 X 0 0 0 Michael Greene Trustee 003.00 X 0 0 0 James F Mooney III Trustee 003.00 X 0 0 0 Robert F Moriarty Trustee 003.00 X 0 0 0 James G Gartland SJ Trustee 003.00 X 0 0 0 Douglas M Baker Jr Trustee 003.00 X 0 0 0 Michael Lochhead VP Treasurer 045.00 X 315515 0 52339 Jacqueline Peterson Dean of Students 045.00 X 191484 0 45168 Frank Vellaccio Sr. VP 045.00 X 288323 0 82252 Jane E Corr Secretary 045.00 X 114336 0 13654 Lori A Blackwell Asst Secretary 045.00 X 68693 0 3326 Timothy Jarry Chief Invest Officer 045.00 X 356045 0 158851 Dorothy Hauver VP Treasurer eff 6/1 045.00 X 176232 0 44713 Paul Harman SJ VP of Mission 045.00 X 0 0 0 Margaret Freije Vice President for Academic Affairs 045.00 X 233311 0 50253 Tracy Barlok Vice President for Advancement 045.00 X 315997 0 51488 Nathan Pine Athletic Director 045.00 X 224471 0 46301 William Gibbons Basketball Coach 040.00 X 183550 0 77625 Milan Brown Basketball Coach 040.00 X 369001 0 52339 Thomas Gilmore Football Coach 040.00 X 192585 0 51465 George Hoffmann Professor 040.00 X 217627 0 22183 3247170 751957 109 false true false Sasaki Associates Inc 64 Pleasant Street Watertown MA 02472 Architect 1768704 Lamoureux Pagano Assoc Inc 108 Grove Street Worcester MA 01605 Architect 799192 Silchester International Investors 780 Third Avenue 42nd Floor New York NY 10017 Investment Management 500589 OHO Interactive 55 Davis Square Somerville MA 02144 Website Designer 343315 Diller Scofidio Refnfro 601 W 26th Street No 1815 New York NY 10001 Architect 309527 17 368590 90237064 12175567 90605654 Tuition and fees 611600 133816698 133816698 Room and board 611710 30752516 30752516 Sales of auxiliary services 722320 5028378 1457893 3570485 Athletics 611710 1685103 1685103 Grants and student aid revenue 611710 2632115 2632115 2518873 2518873 176433683 7068894 -854362 7844218 172823 172823 172823 172823 202039000 168589100 33449900 33449900 762056 32766971 88271 368590 116921 -28650 -28650 307702304 171405305 1365587 44325847 X 199888 199888 47608059 47608059 1459609 1459609 0 2971677 545948 1784883 640846 0 71564107 61681355 6233930 3648822 6480673 5360269 790599 329805 14721970 12672177 1230372 819421 5165926 4160576 729371 275979 0 312812 312349 463 257000 257000 0 101138 101138 2001617 2001617 4148147 1986557 1738743 422847 169041 145433 23088 520 6481541 4737070 495823 1248648 2044457 1152314 711029 181114 0 9143485 8358968 672138 112379 4300456 3630140 399033 271283 0 629768 540614 61466 27688 6456388 5862819 593569 0 13141031 11806246 1334785 978247 28630 866626 82991 Study abroad program 4383627 4383627 Food and functions 5374478 4307341 346329 720808 Guarantees 25500 25500 Bad Debt 1336188 1310995 25193 5171761 7893169 -2735823 14415 216628591 189857304 17872120 8899167 X 12224 12424 44698803 56836991 31348932 80769847 285709 232218 7343086 7398484 509786 581059 307491 610487 441871284 232723848 206165231 209147436 447581563 388580515 286053989 340763092 3748970 3870091 1028055784 1088802644 24741978 23299189 4594051 5449511 144978807 137968324 1050368 746457 53435 16979697 17776448 192398336 185239929 X 400754343 405086019 257449500 306824860 177453605 191651836 835657448 903562715 1028055784 1088802644 91073713 -24101243 932797 X false true X true true true X 16812852 29655695 25142412 53747383 90605654 215963996 16812852 29655695 25142412 53747383 90605654 215963996 54418764 161545232 7128975 5926032 7899689 6619806 7241717 34816219 23459 108009 69850 36976 238294 125927 117725 143721 81493 468866 251487375 801705497 0.64240 0.69380 X 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10150 10150 35 10185 2037 509 8113 false 2037 2037 3056 185 185 9 9 14 II-A THE COLLEGE PAYS DUES TO SOME EDUCATIONAL ASSOCIATIONS. A PORTION OF THESE DUES MAY OR MAY NOT BE ATTRIBUTABLE TO LOBBYING ON BEHALF OF THE ASSOCIATIONS MEMBERS. THE COLLEGE IS UNABLE TO DETERMINE WHAT PORTION OF THESE DUES, IF ANY, IS RELATED TO LOBBYING. AMONGST THESE ORGANIZATIONS, THE COLLEGE PAID ANNUAL DUES OF 25,650.16 TO THE ASSOCIATION OF JESUIT COLLEGES AND UNIVERSITIES AND 19,920 TO THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES. II-A THE COLLEGE PAID THE AMERICAN COUNCIL ON EDUCATION 10,000 FOR PROFESSIONAL FEES ASSOCIATED WITH FEDERAL LOBBYING. X 1 false true 852905 X X X false false true X 726052159 7853248 16284080 6834421 18597329 3448012 721309725 634912204 18820480 99769028 6107435 17903295 3438823 726052159 589769388 13139372 57900198 5726411 16737983 3432360 634912204 607712688 6853564 -831072 5509500 15738086 2718206 589769388 522493344 8654234 100650889 5436053 16230869 2418857 607712688 0.48000 0.25000 0.27000 false false 3952759 3952759 335787276 161067131 174720145 58346689 48314610 10032079 43784560 23342107 20442453 209147436 Financial derivatives and other financial products Closely-held equity interests Hedge funds 208379809 F Private equity 68161669 F Real assets 63195142 F Other investments 1026472 F 340763092 Federal income taxes Interest Rate Swap 8962290 Refundable Advances 4952497 Annuity Obligations 3861661 17776448 X 233830675 -24101243 4617910 -19483333 253314008 3830636 50557660 54388296 307702304 165926148 3685853 3685853 162240295 3830636 50557660 54388296 216628591 II 9 THE COLLEGE HAS NOT RECEIVED ANY GIFT OF PROPERTY SUBJECT TO A CONSERVATION EASEMENT AND THEREFORE DOES NOT REPORT A CONSERVATION EASEMENT IN ITS REVENUE AND EXPENSE STATEMENT OR BALANCE SHEET. TWO OF THE COLLEGES BUILDINGS THAT ARE USED FOR ACADEMIC AND ADMINISTRATIVE PURPOSES WERE BUILT IN THE LATE 1800S AND ARE INCLUDED ON THE HISTORIC REGISTER. III 4 THROUGH BOTH CONTEMPORARY AND HISTORICAL EXHIBITIONS, THE IRIS AND B. GERALD CANTOR ART GALLERY AT HOLY CROSS EDUCATES THE COLLEGE AND WORCESTER COMMUNITIES ABOUT THE FUNDAMENTAL INTELLECTUAL, CULTURAL, SPIRITUAL, AND AESTHETIC ISSUES ENCOUNTERED THROUGH VISUAL ART. OPEN FREE TO THE PUBLIC, THE GALLERY SEEKS TO PROMOTE AND SUPPORT THE INTELLECTUAL AND CULTURAL LIFE OF THE COLLEGE THROUGH THE PRESENTATION AND DISCUSSION OF A DIVERSITY OF VISUAL ARTS. THE GALLERY HAS SPECIAL RESPONSIBILITY FOR INTEGRATING THE LIBERAL ARTS VALUES OF THE COLLEGE AND THE CLASSROOM BY LINKING EXHIBITIONS TO THE BROADER CURRICULUM AND COMMUNITY. IV 2B AGENCY FUNDS ARE HELD BY THE COLLEGE AS CUSTODIAN OR FISCAL AGENT. FUNDS MAY BE HELD FOR RECOGNIZED FACULTY, STAFF, STUDENT OR ALUMNI ORGANIZATIONS THAT ARE COLLECTED FROM ACTIVITY FEES, DUES OR FUNDRAISING. THE FUNDS ARE DEPOSITED WITH THE COLLEGE FOR SAFEKEEPING TO BE USED OR WITHDRAWN BY THE DEPOSITOR UPON PROPER AUTHORIZATION AND DOCUMENTATION. EXPENDITURES FROM THE FUNDS ARE USED PRIMARILY TO FUND STUDENT ACTIVITIES, TRIPS AND PROJECTS OF INTEREST TO THE STUDENTS OR TO SUPPORT COLLEGE PROGRAMS. EACH AGENCY FUND IS PROVIDED A UNIQUE COST CENTER ESTABLISHED IN THE COLLEGES FINANCIAL RECORDS. THESE COST CENTERS PROVIDE A SAFE, SECURE, AND CONVENIENT METHOD OF ACCOUNTING FOR AND ADMINSTERING THESE FUNDS. ALL CUSTODIAL FUNDS FOLLOW THE EXPENDITURE POLICIES AND PROCEDURES OUTLINED BY THE COLLEGE. V 4 THE COLLEGES ENDOWMENT CONSISTS OF APPROXIMATELY 800 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE COLLEGES ENDOWMENT FUND SUPPORTS THE FOLLOWING AREAS FINANCIAL AID FOR STUDENTS ATTENDING THE COLLEGE, TEACHING, ACADEMIC SUPPORT, STUDENT SERVICES AND ATHLETIC PROGRAMS. X 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DEFINED IN SECTION 501C3 OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501A OF THE CODE AND APPLICABLE STATE LAWS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. XI 2D OTHER ADJUSTMENTS CONSIST OF GAIN ON INTEREST RATE SWAP AGREEMENTS OF 655,802, PENSION ADJUSTMENTS OF A LOSS OF 1,587,859, INTRA-DEPARTMENTAL REVENUE OF 3,167,073, CHANGE IN LIFE INCOME OF 388,462, COST ON FUNDRAISING EXPENSES OF 116,921, AND MISCELLANEOUS OF 13,397. TOTAL LINE 2D IS 4,617,190. XI 4B OTHER ADJUSTMENTS CONSIST OF SCHOLARSHIPS NETTED AGAINST TUITION REVENUE OF 49,067,668, INCREASE IN BAD DEBT PROVISION FOR NON-OPERATING PLEDGES OF 1,279,858, LOAN FUND EXPENSES OF 152,699, AND MISCELLANEOUS OF 57,435. TOTAL LINE 4B IS 50,557,660. XII 2D OTHER ADJUSTMENTS CONSIST OF INTRA-DEPARTMENTAL REVENUE OF 3,167,073, CHANGE IN LIFE INCOME OF 388,462, COST OF FUNDRAISING EXPENSES OF 116,921, AND MISCELLANEOUS OF 13,397. TOTAL LINE 2D IS 3,685,853. XII 4B OTHER ADJUSTMENTS CONSIST OF SCHOLARSHIPS NETTED AGAINST TUITION REVENUE OF 49,067,668, INCREASE IN BAD DEBT PROVISION FOR NON-OPERATING PLEDGES OF 1,279,858, LOAN FUND EXPENSES OF 152,699, AND MISCELLANEOUS OF 57,435. TOTAL LINE 4B IS 50,557,660. true true true true true true true false false false false false false false false true false true 6 THE COLLEGE PARTICIPATES IN THE TITLE IV PROGRAM FOR CAMPUS WORK STUDY, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, THE PERKINS LOAN PROGRAM, DIRECT LENDING, AND PELL GRANTS. THE COLLEGE IS ALSO PARTICIPATING IN SEVERAL GRANTS WITH THE NATIONAL SCIENCE FOUNDATION TO PROVIDE STEM GRANTS TO STUDENTS STUDYING MATH OR SCIENCES AS A MAJOR. true Central America and the Caribbean Program services Attend College Abroad 171960 East Asia and the Pacific Program services Attend College Abroad 327416 Europe 90 Program services Attend College Abroad 5088578 South America 3 Program services Attend College Abroad 182959 Russia and the Newly Independent States Program services Attend College Abroad 16604 South Asia Program services Attend College Abroad 44288 Middle East and North Africa Program services Attend College Abroad 10173 Europe Including Iceland and Greenland Investments 4828696 Central America and the Caribbean Investments 248889912 93 93 259560586 259560586 Scholarship Europe Including Iceland and Greenland 68 1459609 Student Acct FMV true false true true true false Part I Line 2 THE COLLEGE MANAGES ALL RELATIONSHIPS WITH INTERNATIONAL HOST INSTITUTIONS DIRECTLY AND CONDUCTS PERIODIC EVALUATIONS OF THE PROGRAMS. STUDENTS ARE BILLED TUITION BY HOLY CROSS. THE COLLEGE MANAGES ALL ASPECTS OF THE PROGRAM AND ITS COSTS PROVIDING FOR ADVISORS, LINGUISITIC SUPPORT AND TUTORIAL ASSISTANCE. PROGRAM COSTS, OTHER THAN SCHOLARSHIPS, ARE TRACKED BY PROGRAM LOCATION. SCHOLARSHIPS ARE PROVIDED TO STUDENTS ATTENDING PROGRAMS ABROAD USING THE SAME METHODOLOGY THAT IS APPLIED TO STUDENTS WHO ATTEND CLASSES IN THE UNITED STATES AS DESCRIBED ON FORM 990, SCHEDULE I, PART IV. Part III Line 1 THIS AID IS PROVIDED TO RESIDENT AND NON-RESIDENT STUDENTS ATTENDING A STUDY ABROAD PROGRAM. X X X X X X X true PlusDelta Partners 6965 El Camino Real Carlsbad CA 92009 Consultant false 19400 Ronald Joyce 309 Oakwood Dr Yarmouth ME 04096 Consultant false 23679 Carter Halliday Associates 107 South St 5D Boston MA 02111 Professional Services false 58059 101138 NY COUNCIL DINNER 427660 357595 70065 86605 21071 GOLF TOURNAMENT 29201 10995 18206 4502 4743 456861 368590 88271 91107 25814 116921 -28650 Part I Fundraising payees are paid for consulting services that are not directly related to fundraising revenues. true Naismith Memorial Basketball Hall of Fame 1000 HALL OF FAME AVE Springfield MA 01105 046128892 501c3 100000 FMV Blackstone River Valley National Heritage 1 Depot Square Woonsocket RI 02895 273086245 501c3 45000 FMV Worcester Public Library Foundation 455 Main Street Worcester MA 01618 046001418 115 10000 FMV City of Worcester 455 Main Street Worcester MA 01618 046001418 115 10000 FMV Nativity School of Worcester 67 Lincoln Street Worcester MA 01605 030385377 501c3 6500 FMV Education and Hope PO BOX 486 Norwalk CT 06856 061532033 501c3 5200 FMV Loyola University 4501 N Charles Street Baltimore MD 21210 520591623 501c3 5000 FMV 7 Scholarship - Funded by Federal Government 160 630000 Scholarship - Funded by State Government 203 494500 Scholarship - Funded by College 1496 44423296 Scholarship - Funded by Private Source 109 2060263 Part I Line 2 THE COLLEGE SUPPORTS A NEED BASED FINANCIAL AID POLICY THAT IS REPRESENTATIVE OF ITS ACADEMIC AND SPIRITUAL GOALS AS AN UNDERGRADUATE, JESUIT LIBERAL ARTS COLLEGE. THE COLLEGE ACCEPTS STUDENTS REGARDLESS OF THEIR ABILITY TO PAY NEED-BLIND ADMISSIONS AND THEN MEETS 100 OF THEIR NEED, AS CALCULATED ACCORDING TO NATIONALLY RECOGNIZED FINANCIAL AID CRITERIA. Part I Line 2 THE COLLEGE USES A CONSERVATIVE NEEDS ANALYSIS, INSTITUTIONAL METHODOLOGY WHICH IS AGREED UPON BY MORE THAN 2,000 MEMBERS OF THE COLLEGE SCHOLARSHIP SERVICE ASSEMBLY. ALL STUDENTS ARE ENCOURAGED TO APPLY REGARDLESS OF THEIR SOCIO-ECONOMIC BACKGROUND. APPROXIMATELY SIXTY-ONE PERCENT OF ALL STUDENTS RECEIVE SOME FORM OF FINANCIAL ASSISTANCE. Part I Line 2 A LIST OF RECIPIENTS WHO RECEIVE FINANCIAL ASSISTANCE IS MAINTAINED BY THE COLLEGE. THERE MAY BE SOME RECIPIENTS WHO ARE RELATED TO OFFICERS, TRUSTEES, OR OTHER DISQUALIFIED PERSONS SUCH RECIPIENTS ARE SELECTED ON AN EQUAL OBJECTIVELY DETERMINED BASIS WITH OTHERS. Part I Line 2 THE COLLEGE PROVIDES GRANTS TO CERTAIN CHARITABLE ORGANIZATIONS WITHIN THE WORCESTER, MA AREA. THESE GRANTS ARE CLOSELY TIED TO PROMOTING THE COLLEGES CHARITABLE AND EDUCATIONAL MISSION AND CONTRIBUTE TO THE ENRICHMENT OF THE GREATER WORCESTER AREA. SINCE THESE GRANTS ARE MADE TO CHARITIES, THE COLLEGE DOES NOT MONITOR THE USE OF THE GRANT FUNDS. X X X true true false false false false false true false Michael Lochhead VP Treasurer 315155 360 28326 24013 367854 Jacqueline Peterson Dean of Students 189900 1584 21155 24013 236652 Frank Vellaccio Sr. VP 285275 3048 28326 53926 370575 Timothy Jarry Chief Invest Officer 302573 53256 216 134838 24013 514896 Nathan Pine Athletic Director 221478 2993 24885 21416 270772 William Gibbons Basketball Coach 182518 1032 20981 56644 261175 Milan Brown Basketball Coach 363761 5000 240 28326 24013 421340 Dorothy Hauver VP Treasurer eff 6/1 175872 360 19500 25213 220945 Thomas Gilmore Football Coach 179151 13434 20636 30829 244050 George Hoffmann Professor 59059 158568 6298 15885 239810 Margaret Freije Vice President for Academic Affairs 232279 1032 26240 24013 283564 Tracy Barlok Vice President for Advancement 275299 40698 28326 23162 367485 Part I Line 7 THE COLLEGE IMPLEMENTED A PERFORMANCE-BASED INCENTIVE PLAN TO MOTIVATE AND REWARD PERSONS WITHIN THE COLLEGES INVESTMENT OFFICE FOR ACHIEVING THE COLLEGES LONG-TERM FINANCIAL OBJECTIVES. A COMMITTEE APPOINTED BY THE PRESIDENT OF THE COLLEGE ADMINISTERS THIS INCENTIVE PLAN. THIS COMMITTEE DETERMINES EACH PARTICIPANTS ANNUAL INCENTIVE OPPORTUNITES WHICH VARIES BASED UPON ACHIEVEMENT OF SPECIFIED LEVELS OF PERFORMANCE FOR THE PLAN YEAR. FACTORS FOR DETERMINING INCENTIVE OPPORTUNITIES INCLUDE BENCHMARKING ENDOWMENT POOL RETURNS, RANKING AGAINST ENDOWMENT POOLS OF COMPARABLE ORGANIZATIONS, NET RETURN ON THE ENDOWMENT POOL, COMPLETION OF ANNUAL GOALS, LEADERSHIP COMPETENCIES, AND OVERALL PERFORMANCE IN MAJOR AREAS OF RESPONSIBILITIES. TIMOTHY JARRY RECEIVED 106,512 IN DEFERRED COMPENSATION AS PART OF THE COLLEGES INCENTIVE PLAN. Part I Line 4B, 7 THE COLLEGE HAS ESTABLISHED A VOLUNTARY EARLY RETIREMENT PROGRAM FOR TENURED FACULTY MEMBERS WHO HAVE COMPLETED FIFTEEN YEARS OF SERVICE AND ATTAINED AGE 62. ELIGIBLE FACULTY MEMBERS ARE ENTITLED TO A PERCENTAGE PAYOUT THAT DECREASES OVER TIME. IN ADDITION, ELIGIBLE FACULTY MEMBERS ARE ABLE TO REMAIN ENROLLED IN THE COLLEGES AVAILABLE MEDICAL HEALTH PLANS. GEORGE HOFFMAN RECEIVED 157,460 IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGES EARLY RETIREMENT PROGRAM. Part II MEMBERS OF THE SOCIETY OF JESUS TAKE A VOW OF POVERTY. COMPENSATION IS PAID DIRECTLY TO THEIR ORDER WHICH IS EXEMPT UNDER SECTION 501C3. UNDER REV. RUL. 77-290, MEMBERS OF A RELIGIOUS ORDER PROVIDING SERVICES TO A CATHOLIC ORGANIZATION WILL BE CONSIDERED FOR TAX PURPOSES TO BE AN AGENT OF HIS ORDER PROVIDED THE RELIGIOUS ORDER IS SUBJECT TO A VOW OF POVERTY, THE RELIGIOUS ORDER IS PROVIDING SERVICES FOR A CATHOLIC ORGANIZATION LISTED IN THE OFFICIAL CATHOLIC DIRECTORY AT THE DIRECTION OF HIS SUPERIOR AND THE FULL AMOUNT OF COMPENSATION IS REMITTED TO HIS ORDER WHICH IS EXEMPT FROM TAX. Part II CERTAIN OFFICERS AND HIGHEST PAID EMPLOYEES HAVE RECEIVED TUITION REMISSION AS PART OF THEIR OTHER REPORTABLE COMPENSATION AS REPORTED IN COLUMN B iii. Part I Line 4A MILAN BROWN WAS SEPARATING FROM THE COLLEGE IN YEAR ENDED 6/30/2015. ALL PAYMENTS RELATED TO HIS SEPARATION WERE REPORTED IN HIS 2015 FORM W-2. A Massachusetts Development Finance 2007B 043431814 57583RLM5 2007-05-03 30306021 Refunding 1998 Issue false false false B Massachusetts Development Finance 2008A 043431814 57583RUZ6 2008-05-08 45340000 Refunding 2006 Issue false false false C Massachusetts Development Finance 2008B 043431814 57583RVU6 2008-05-08 71076481 Refunding 2007 Issue false false false A 9230000 30306021 258981 169240 29877800 1998 false true true true B 6250000 45340000 181594 158406 45000000 2006 true false true true C 18120000 71076481 503481 70573000 2007 true false true true A false false true false false false false true B false false true false false 0.00910 0.00910 false false true C false true true false false 0.02810 0.02810 false false true A false false true false false false false true B false false true true true Bank of America LLC 0000000028.300000000000 false false false false true C false false true false false false false true A true B true C true Part IV Line 2C NO REBATE WAS DUE AS OF THE REBATE CALCULATION PERFORMED ON 4/22/2013 FOR MDFA 2008A. Part IV Line 2C NO REBATE WAS DUE AS OF THE REBATE CALCULATION PERFORMED ON 4/22/2013 FOR MDFA 2008B. Part IV Line 2C THE MDFA 2007B BOND WAS ISSUED A NO ARBITRAGE CERTIFICATE UNDER TREASURY REGULATION 1.148-2b2i DATED MAY 3, 2007. Part III Line 2 THE COLLEGE OF THE HOLY CROSS HAS A LEASE ARRANGEMENT WITH A BARBER WHO PROVIDES STYLING SERVICES TO STUDENTS AND STAFF ON CAMPUS. Part III Line 3A 3B THE COLLEGE OF THE HOLY CROSS HAS SERVICE CONTRACTS WITH ELEVATOR REPAIR COMPANIES AS WELL AS A CLEANING SERVICE FOR SOME OF ITS BOND-FINANCED PROPERTY. THE COLLEGE IS CONFIDENT THAT THESE CONTRACTS WILL NOT RESULT IN PRIVATE BUSINESS USE. Part III Line 4 AS INDICATED IN THE SUPPLEMENTAL INFORMATION FOR PART III LINE 2, THE COLLEGE LEASES A PORTION OF ITS DEBT-FINANCED PROPERTY TO A BARBER. THIS LEASE CONSTITUTES 0.001 OF THE COLLEGES FINANCED PROPERTY THAT IS USED IN A PRIVATE BUSINESS USE BY ENTTITES OTHER THAN A SECTION 501C3 ORGANIZATION OR A STATE OR LOCAL GOVERNMENT. Federated Advisory Companies John Fisher, Trustee 30000 Management Fee Estimated false Baupost Group LLC James Mooney, Trustee 700000 Management Incentive Fee false Skanska USA Building Inc Stuart Graham, Trustee 135000 Consulting Fee false Bowditch and Dewey Helen Boucher, Trustee 360000 Legal Fee false Part IV Line 1 CONSISTENT WITH THE POLICY DESCRIBED IN SCHEDULE O, THE FOLLOWING TRANSACTIONS HAVE BEEN REVIEWED AND ARE CONSIDERED TO BE IN THE BEST INTERESTS OF THE COLLEGE WITH TERMS ARE MADE AT ARMS LENGTH. Part IV Line 1 JOHN FISHER IS THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF FEDERATED ADVISORY COMPANIES FEDERATED. THE COLLEGES INVESTMENT BALANCES AT FEDERATED WERE 36,858,000 AS OF JUNE 30, 2015 AND FEES FOR THE YEAR ENDED WERE APPROXIMATELY 30,000. Part IV Line 2 JAMES MOONEY IS A PARTNER IN BAUPOST GROUP, LLC. THE COLLEGES INVESTMENT BALANCE AT BAUPOST GROUP, LLC WAS 51,860,000 AT JUNE 30, 2015 AND MANAGEMENT FEES PAID BY THE COLLEGE FOR THE YEAR THEN ENDED WERE APPROXIMATELY 700,000 INCLUDING BOTH MANAGEMENT FEES FOR FISCAL YEAR ENDED JUNE 30, 2015 AND INCENTIVE FEES FOR THE CALENDAR YEAR ENDED DECEMBER 31, 2014. Part IV Line 3 STUART GRAHAM IS THE NON-EXECUTIVE CHAIRMAN OF SKANSKA USA BUILDING INC. SKANSKA HAS A MULTI-YEAR CONSULTING ARRANGEMENT WITH THE COLLEGE WORTH OVER 2 MILLION. DURING FISCAL YEAR 2015, THE COLLEGE PAID FEES TO SKANSKA OF APPROXIMATELY 135,000. Part IV Line 4 HELEN BOUCHER HAS A FAMILY MEMBER WHO WAS A PARTNER AT BOWDITCH AND DEWEY. DURING FISCAL YEAR 2015, THE COLLEGE PAID FEES TO THE FIRM OF APPROXIMATELY 360,000. X 9473 X 254 12166094 4 false true false Part I Line 32B THE COLLEGE USES A REGISTERED BROKER TO SELL SECURITIES THAT ARE GIFTED TO THE COLLEGE. Part I Line 9 COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE TO THE COLLEGE. Form 990, Part IV, Section B, Line 11A MANAGEMENT OF THE COLLEGE IS RESPONSIBLE FOR DRAFTING FORM 990. THE COMPLETED DRAFT FORM 990 IS SUBMITTED FOR REVIEW TO THE COLLEGES TAX ADVISOR. RECOMMENDED CHANGES ARE DISCUSSED WITH MANAGEMENT AND INCORPORATED INTO THE RETURN. THE DRAFT FORM IS THEN PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES SUFFICIENTLY IN ADVANCE OF THE FILING DEADLINE TO ENABLE A DETAILED AND CONSCIENTIOUS REVIEW BY ALL MEMBERS OF THE COMMITTEE WITH MANAGEMENT AND THE COLLEGES TAX ADVISOR. ALL QUESTIONS AND CONCERNS OF THE AUDIT COMMITTEE MEMBERS ARE ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER THE AUDIT COMMITTEE REVIEW ALL MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH THE COMPLETED FORM 990 IN ADVANCE OF THE FILING DEADLINE VIA A DEDICATED COLLEGE WEBSITE. ALL QUESTIONS AND CONCERNS OF THE MEMBERS OF THE BOARD OF TRUSTEES WILL BE ADDRESSED BY THE TREASURER AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER ALL OF THE INPUT FROM THE BOARD OF TRUSTEES AND THE AUDIT COMMITTEE HAS BEEN APPROPRIATELY ADDRESSED, THE TREASURER OF THE COLLEGE IS AUTHORIZED TO FILE THE FORM 990. Form 990, Part VI, Section B, Line 12C ALL OFFICERS, TRUSTEES AND KEY EMPLOYEES ASSUME RESPONSIBILITY FOR CONSIDERING POSSIBLE CONFLICTS OF INTEREST THAT ARISE DURING SERVICE WITH THE COLLEGE. TO HELP OFFICERS, TRUSTEES, AND KEY EMPLOYEES IDENTIFY POSSIBLE CONFLICTS OF INTEREST, THE COLLEGE HAS DEVELOPED A DISCLOSURE FORM THAT MUST BE COMPLETED AND UPDATED AT LEAST ANNUALLY. DURING THE COURSE OF THEIR SERVICE, OFFICERS, TRUSTEES, AND KEY EMPLOYEES MUST ALSO DISCLOSE ANY CONFLICT OF INTEREST AS SOON AS THEY BECOME AWARE OF THE CONFLICT. Form 990, Part VI, Section B, Line 12C THE GENERAL COUNSEL WILL REVIEW THE DISCLOSURES AND REPORT CONFLICTS OF INTEREST TO THE CHAIRMAN OF THE BOARD AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT COMMITTEE CONSIDERS THE BEST INTERESTS OF THE COLLEGE AND THE NATURE OF THE CONFLICT. Form 990, Part VI, Section B, Line 12C THE AUDIT COMMITTEE EVALUATES THE CIRCUMSTANCES OF THE ISSUE OR TRANSACTION TO ENSURE THAT IT IS REASONABLE AND THAT THEY HAVE CONSIDERED ANY POTENTIAL IMPLICATIONS OF ENTERING INTO A TRANSACTION OR DECIDING AN ISSUE WHERE A CONFLICT EXISTS. THE AUDIT COMMITTEE MAY CONSIDER WHETHER ADVICE FROM COUNSEL OR OTHER INDEPENDENT ADVISORS IS NECESSARY IN PARTICULAR INSTANCES. Form 990, Part VI, Section B, Line 12C THE AUDIT COMMITTEE WILL DELIBERATE THE REPORTED CONFLICT AND VOTE TO MAKE ONE OF TWO DETERMINATIONS THAT NO MATERIAL CONFLICT OF INTEREST EXISTS AND THAT NO ACTION IS NECESSARY OR THAT A MATERIAL CONFLICT OF INTEREST DOES EXIST AND DETERMINE HOW TO ADDRESS THE IDENTIFIED CONFLICT. THESE FINDINGS WILL BE COMMUNICATED TO THE CHAIRMAN OF THE BOARD AND FULL BOARD OF TRUSTEES. THE MINUTES OF THE MEETING SHALL REFLECT THE NATURE OF THE CONFLICT AND THE AUDIT COMMITTEES DETERMINATION WITH RESPECT TO THE SPECIFIC PROCEDURES THE MEMBER WILL FOLLOW REGARDING THE ISSUE OR TRANSACTION. Form 990, Part VI, Section B, Line 15A B THE BYLAWS ARTICLE 2, SECTION 6 OF THE COLLEGE ESTABLISH THAT THE BOARD HAS THE AUTHORITY TO HIRE, EMPLOY, AND SET THE REMUNERATION OF THE PRESIDENT AND ALL OTHER OFFICERS OF INSTRUCTION AND ADMINISTRATION. THE EXECUTIVE COMMITTEE IS A PERMANENT COMMITTEE OF THE BOARD THAT HAS BEEN ASSIGNED THE RESPONSIBILITY FOR EVALUATING COMPENSATION REASONABLENESS FOR ALL OFFICERS OR HIGHLY PAID EMPLOYEES. THE EXECUTIVE COMMITTEE IS COMPOSED OF FIVE TO SIX MEMBERS AND INCLUDES THE PRESIDENT WHO IS EX-OFFICIO CHAIR AND A MEMBER OF THE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE ENTIRE COMPENSATION PACKAGE INCLUDING BENEFITS BY ASSESSING THE NATURE AND SCOPE OF EACH POSITION, ASSESSING THE INDIVIDUALS HOLDING EACH POSITION INCLUDING UNIQUE BACKGROUND, EXPERIENCE, PERSONAL SKILLS, PERFORMANCE, AND OBTAINING APPROPRIATE AND COMPARABLE COMPENSATION MARKET DATA FROM THE FOLLOWING SOURCES SIMILARLY SITUATED ORGANIZATIONS, BOTH FOR-PROFIT AND TAX EXEMPT FOR FUNCTIONALLY COMPARABLE POSITIONS INCLUDING COMPARATIVE DATA FROM CUPA, OTHER JESUIT COLLEGES AND UNIVERSITIES, AND THE HAYS NEW ENGLAND MARKET SURVEY INDEPENDENT COMPENSATION SURVEYS BY NATIONALLY RECOGNIZED INDEPENDENT FIRMS THE EXECUTIVE COMMITTEE WILL PERIODICALLY USE INDEPENDENT COMPENSATION CONSULTANTS TO REVIEW EXECUTIVE COMPENSATION. THE EXECUTIVE COMMITTEE DELIBERATES THE INFORMATION PROVIDED AND RELATIVE CONTRIBUTION OF EACH EXECUTIVE MEMBER BEFORE VOTING ON THE COMPENSATION PACKAGE. THE PRESIDENT IS A MEMBER OF THE SOCIETY OF JESUS. MEMBERS OF THIS RELIGIOUS ORDER TAKE A VOW OF POVERTY AND RECEIVE COMPENSATION AS AN AGENT OF THEIR RELIGIOUS ORDER. RECORDS OF THE EXECUTIVE COMMITTEE MEETING ARE ADEQUATELY DOCUMENTED. Form 990, Part VI, Section B, Line 16A THE COLLEGE PARTICIPATES IN A JOINT VENTURE, COLLABORATIVE EDUCATIONAL VENTURES OF NEW ENGLAND, LLC. CEVONE. CEVONE IS A COLLABORATIVE OF EDUCATIONAL INSTITUTIONS FORMED TO EXPLORE DEVELOP AND PROVIDE SPECIAL PURPOSE INITIATIVES WHICH MAY BE OF PARTICULAR INTEREST TO ITS PARTICIPATING MEMBER SCHOOLS, COLLEGES, AND UNIVERSITIES. Form 990, Part VI, Section C, Line 19 THE COLLEGES GOVERNING INSTRUMENTS, ARTICLES OF INCORPORATION AND BYLAWS MAY BE FOUND ON THE COLLEGE WEBSITE UNDER THE OFFICE OF THE GENERAL COUNSEL. THE COLLEGES CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE COLLEGES WEBSITE. Form 990, Part IX, Line 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE A LOSS ON INTEREST RATE SWAP AGREEMENTS OF 655,802, PENSION ADJUSTMENTS RELATING TO FINANCIAL STANDARDS ACCOUNTING NUMBER 158 WHICH IS A GAIN OF 1,587,859, AND MISCELLANEOUS OF 740. TOTAL OTHER CHANGES IN NET ASSETS OR FUND BALANCES EQUAL 932,797. Form 990, Part VI, Section A, Line 1A THE COLLEGES EXECUTIVE COMMITTEE IS SUBORDINATE AND RESPONSIBLE TO THE BOARD OF TRUSTEES. HOWEVER, BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, THE EXECUTIVE COMMITTEE HAS ALL THE POWERS AND DUTIES OF THE BOARD EXCEPT TO APPROVE OR AUTHORIZE CHANGES IN THE CHARTER OF THE CORPORATION OR THE BYLAWS TO REMOVE OR ELECT OFFICERS OF THE CORPORATION OR THE PRESIDENT OF THE COLLEGE OF THE HOLY CROSS TO EFFECT ANY MAJOR CHANGE IN THE NATURE OF THE OPERATIONS OF THE COLLEGE TO AUTHORIZE ANY MORTGAGE OR ENCUMBRANCE ON ALL OR ANY SUBSTANTIAL PART OF THE PROPERTIES OF THE CORPORATION, OR TO CONFER HONORS OR DEGREES. Form 990, Part VI, Section A, Line 1A ALL OF THE EXECUTIVE COMMITTEES MEMBERS ARE ON THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED JUNE 30, 2015 COMPRISED OF REV. PHILIP L. BOROUGHS, S.J., PRESIDENT, JOHN J. MAHONEY, JR., CHAIR, REV. JAMES GARLAND, S.J., TRUSTEE, MARY MURPHY WESTOVER, TRUSTEE, AND ANNE FINK, TRUSTEE. Form 990, Part X, Line 11 12 ON THE FORM 990, THE COLLEGE INCLUDES IN THE CATEGORY OF PUBLICLY TRADED SECURITIES CERTAIN INVESTMENT VALUED USING THE PRACTICAL EXPEDIENT NAV. WHEN THE UNDERLYING INVESTMENTS ARE PUBLICLY TRADED. THESE ASSETS MAY BE HELD IN PRIVATE EQUITY FUNDS OR OTHER SIMILAR VEHICLES. Alchemy Plan LP Trafalgar Court Les Banques St Peter Port GK GY13QL 980376083 Investing GK NA Investment 566416 7350547 true false 0.99500 false false false false false false false false false false false false false false false false false true true Alchemy Plan LP r 30878 FMV Alchemy Plan LP s 6910942 FMV Quinsigamond Village r 25000 FMV