2015-05-14T19:26:06-05:00 2014-06-30 KPMG LLP One Financial Plaza Hartford CT 061032608 990 2013-07-01 041286950 Emerson College % NANCY TREVETHICK EMER 6178248500 120 Boylston Street Suite Boston MA 021164624 MAUREEN MURPHY VP ADMIN & FINANCE 6178248500 2015-05-12 true MARY-EVELYN ANTONETTI P00431862 6178248500 2013 2016-02-25 16:41:14Z MAUREEN MURPHY 120 Boylston Street BOSTON MA 021164624 204010088 false X WWW.EMERSON.EDU X 1880 MA EMERSON COLLEGE IS A FOUR-YEAR COLLEGE OFFERING DEGREES PRIMARILY IN THE FIELDS OF PERFORMING ARTS AND COMMUNICATIONS. 24 22 3182 562 3194160 -1222362 6805007 5278420 173909142 187641149 2438878 3639799 5381265 3520683 188534292 200080051 32540431 34009740 0 0 73118357 79957817 0 0 3686576 70876821 75029837 176535609 188997394 11998683 11082657 666755716 685203486 288846248 280009443 377909468 405194043 EMERSON COLLEGE IS A FOUR-YEAR COLLEGE OFFERING DEGREES PRIMARILY IN THE FIELDS OF PERFORMING ARTS AND COMMUNICATIONS. false false 119228380 34009740 154128017 EMERSON COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE PROGRAMS CHALLENGING THE STUDENTS TO THINK AND COMMUNICATE WITH CLARITY, SUBSTANCE AND INSIGHT. THE CURRICULUM INTEGRATES COMMUNICATION WITH LIBERAL ARTS AND EMPHASIZES A GLOBAL OUTLOOK AND PRACTICAL EXPERIENCE TO HELP DEVELOP THE INHERENT CAPACITIES OF EACH STUDENT. 42874443 0 34274725 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR THE STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THE SERVICES INCLUDE ROOM, BOARD AND THE BOOKSTORE. 162102823 true true false false false false false false false true true false false false true true true false true true true false true false true false false false true true true false false false false false false true false false false true false false false false false false false false true 334 0 true 3182 true true true true NL false false false true true false false false false X 24 22 false false false false false false false true true false false true true true true true true true true false CA MA X NANCY TREVETHICK 6178248515 120 BOYLSTON STREET BOSTON MA 021164624 E ALEXANDER MEMBER 2.0 X 0 0 0 B BROWN MEMBER 2.0 X 0 0 0 V DI BONA VICE CHAIRMAN 2.0 X X 0 0 0 R FRIEND MEMBER 2.0 X 0 0 0 L GERSH MEMBER 2.0 X 0 0 0 J GREENHAWT CHAIRMAN 2.0 X X 0 0 0 G GROSSMAN MEMBER 2.0 X 0 0 0 D HERZOG MEMBER 2.0 X 0 0 0 D HOLLOWAY Member 2.0 X 0 0 0 J HURET MEMBER 2.0 X 0 0 0 A JAFFE MEMBER 2.0 X 0 0 0 R JANSSEN TREASURER 2.0 X X 0 0 0 M MUTCHNICK MEMBER 2.0 X 0 0 0 L RASKY VICE CHAIRMAN 2.0 X X 0 0 0 S SAMUELS VICE CHAIR 2.0 X X 0 0 0 L SCHWARTZ MEMBER 2.0 X 0 0 0 M ZACHARIS SECRETARY 2.0 X X 0 0 0 R WALKER II MEMBER 2.0 X 0 0 0 L PELTON PRESIDENT/TRUSTEE 40.0 X X 704226 0 130172 B CARTY MEMBER 2.0 X 0 0 0 L HINDERY JR MEMBER 2.0 X 0 0 0 A LEARY Member 2.0 X 0 0 0 M MACWADE MEMBER 2.0 X 0 0 0 R SHARMA MEMBER 2.0 X 0 0 0 L MOORE VP ACADEMIC AFFAIRS 40.0 X 163351 0 16072 W GILLIGAN VP INFO TECHNOLOGY 40.0 X 257771 0 48342 C HUGHES VP & GENERAL COUNSEL 40.0 X 199009 0 28245 MJ KNOLL FINN VP ENROLLMENT 40.0 X 228978 0 37253 A TIEDEMANN VP PUBLIC AFFAIRS 40.0 X 192393 0 76729 M MURPHY VP ADMIN & FINANCE 40.0 X 295199 0 29642 J SCHOENHERR VP DEVELOPMENT & ALUMNI 40.0 X 231941 0 41845 D HEILAND VP & SPECIAL ASST. TO PRES 40.0 X 218910 0 8567 S SPEARS VP DIVERSITY & INCLUSION 40.0 X 209067 0 29590 J DONOHOE AVP FOR FINANCE 40.0 X 185976 0 30213 R ORCHARD EXECUTIVE DIRECTOR 40.0 X 246487 0 24869 M INGS AVP GOVT & COMMUNITY RELATIONS 40.0 X 183383 0 19193 M GATES SR VP FINANCIAL AFFAIRS 40.0 X 212966 0 28928 D TOBIN PROFESSOR 40.0 X 182072 0 24957 J LIEBERGOTT FORMER PRESIDENT X 212180 0 33711 3923909 0 608328 93 true true false HATHAWAY DINWIDDIE CONSTRUCTION CO 811 WILSHIRE BLVD LOS ANGELES CA 90017 GENERAL CONTRACTOR 3670337 SECURITIAS SECURITY SERVICES USA 1 HARBORSIDE DRIVE EAST BOSTON MA 02128 SECURITY SERVICES 1775396 MORPHOSIS 3440 WESLEY STREET CULVER CITY CA 90232 ARCHITECTURE 1135575 CHAPMAN WATERPROOFING COMPANY 395 COLUMBIA ROAD BOSTON MA 02125 INSPECTIONS 1229921 ELKUS MANFREDI ARCHITECHTS LTD 25 DRYDOCK AVENUE BOSTON MA 02210 ARCHITECHT SERVICES 1334232 25 184261 2323576 2770583 440400 5278420 TUITION & FEES 611710 153366424 153366424 ROOM & BOARD 611710 30698858 30698858 THEATER REVENUE 531390 2609512 2609512 SUMMER CONFERENCE 531390 549318 549318 BOOKSTORE COMMISSION 611710 150415 150415 266622 231292 35330 187641149 2145000 2145000 513 513 2521332 2521332 1908048 1504438 403610 0 403610 403610 3617000 2122714 1494286 1494286 1494286 137033 184261 302885 -165852 -165852 0 0 MISCELLANEOUS 611710 761593 761593 761593 200080051 185208582 3194160 6398889 0 33173785 33173785 835955 835955 0 3018377 2016059 532190 470128 0 61579538 50174656 9751250 1653632 3570618 2909135 565572 95911 7414884 5915979 1149609 349296 4374400 3564653 692339 117408 0 463305 0 463305 0 309215 0 309215 0 0 0 383000 0 383000 0 3405233 2851127 554106 0 946321 792333 153988 0 3625510 2821020 589949 214541 2025096 1604920 329527 90649 0 7077970 5862375 1151740 63855 3635162 2783608 591520 260034 0 0 11405451 10214389 1191062 0 17858473 16579701 1278772 3042574 1941883 1100691 OTHER FOOD SERVICES 5979918 5979918 OTHER SERVICES 8571893 6875641 1394834 301418 RENOVATIONS/CONTRACTS MAINT. 3852919 3225965 626954 MISCELLANOUS 2447797 1979721 398372 69704 188997394 162102823 23207995 3686576 X 0 0 46959388 24419091 3445549 2814146 2360881 2241535 0 0 0 0 2408075 2432850 0 0 619151 875176 674214369 179984986 466798012 494229383 107261826 142471580 34419663 13348000 0 0 0 0 2483171 2371725 666755716 685203486 25403414 21488908 0 0 9467617 11087767 250021316 243479028 0 0 0 0 0 0 0 0 3953901 3953740 288846248 280009443 X 349181091 372812448 7426185 9973812 21302192 22407783 377909468 405194043 666755716 685203486 X 11082657 16131254 70664 X false true X true true true X 5001782 7110738 4789333 6805007 5278420 28985280 0 0 5001782 7110738 4789333 6805007 5278420 28985280 0 28985280 4970876 5745475 5590329 6516158 6574893 29397731 35608 0 0 0 0 35608 1371598 1579004 1889323 1544579 761593 7146097 65564716 812484686 0.44209 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 127945924 2217617 19228787 3218319 146174009 117064905 1397951 12298021 2814953 127945924 118988122 1522529 -853654 2592092 117064905 105776357 1854285 13527183 2169703 118988122 48847969 54196824 4501104 1769540 105776357 0.81000 0.19000 false false 64709055 64709055 545905296 126936935 418968361 2209811 920337 1289474 61390207 52127714 9262493 494229383 0 REFUNDABLE ADVANCES GOVT GRANT 1204791 CAPITAL LEASE OBLIGATION 2748949 3953740 X 217704936 16131254 1915806 18047060 199657876 383000 39175 422175 200080051 190421917 1807523 1807523 188614394 383000 383000 188997394 Schedule D: Part XI LINE 2D RENTAL EXPENSES $ 1,504,438 CHANGE IN PV CRT 108,483 FUNDRAISING EXPENSES 302,885 ___________ TOTAL $ 1,915,806 Schedule D Part XI Line 4b NON-STOCK, NON-CASH CONTRIBUTIONS $ 39,175 Schedule D: Part XII LINE 2D RENTAL EXPENSES $ 1,504,438 FUNDRAISING EXPENSES 302,885 ___________ TOTAL $ 1,807,323 Schedule D PART V Line 4 THE PURPOSE OF THE COLLEGE'S ENDOWMENT FUND IS TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A RELIABLE SOURCE OF FUNDS FOR CURRENT AND FUTURE USE THROUGH QUARTERLY DRAWDOWNS. THE ENDOWMENT IS USED TO FUND SCHOLARSHIPS AND GRANTS AS WELL AS MAINTAINING COLLEGE FACILITIES AND PROGRAM SERVICES. UNCERTAIN TAX POSITIONS 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 EVALUATING 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 THE STATUTES OF LIMITATIONS. OPEN TAX YEARS ARE THOSE THAT ARE OPEN FOR EXAM BY TAXING AUTHORITIES. MAJOR JURISDICTIONS FOR THE COLLEGE INCLUDE FEDERAL AND THE COMMONWEALTH OF MASSACHUSETTS. AS OF JUNE 30, 2014, OPEN FEDERAL AND MASSACHUSETTS TAX YEARS FOR THE COLLEGE INCLUDE THE TAX YEARS ENDED JUNE 30, 2010 THROUGH JUNE 30, 2013. THE COLLEGE HAS NO EXAMINIATION IN PROGRESS. THE COLLEGE BELIEVES IT HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS. true true true true true true true false false false false false false false false true false true LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS PRINTED IN THE COLLEGE'S ADMISSION CATALOG AND THE COLLEGE'S WEBSITE. LINE 6A THE COLLEGE PARTICIPATES IN A NUMBER OF FEDERAL FINANCIAL PROGRAMS FOR ITS STUDENTS WHO HAVE FILED A FAFSA AND ARE ELIGIBLE FOR FEDERAL FINANCIAL AID. true Europe (Including Iceland and Greenland) Program Services SEMESTER ABROAD CLASS 2351211 Central America and the Caribbean Investments 27546872 Europe (Including Iceland and Greenland) Grantmaking SCHOLARSHIPS 835955 30734038 30734038 EMERSON COLLEGE FUNDED SCHOLARSHIPS Europe (Including Iceland and Greenland) 831093 STATE SCHOLARSHIPS Europe (Including Iceland and Greenland) 4862 true false false false false true PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO THE STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATION PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC YEAR. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. PART I, LINE 3, (COLUMN F) GRANTMAKING EXPENDITURES FOR SCHOLARSHIPS ARE REPORTED IN COLUMN (F) AT THEIR BOOK VALUE. AMOUNTS SHOWN IN COLUMN (F) FOR INVESTMENTS ARE REPORTED AT THEIR FAIR MARKET VALUE. EXPENDITURES FOR THE SEMESTER ABROAD CLASSES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD OF ACCOUNTING. EMERSON LA GALA 178050 102550 75500 41691 35740 34086 GOLF TOURNAMENT 75800 45590 30210 340 12235 3564 1250 2578 3 67444 36121 31323 64500 72442 6108 28351 321294 184261 137033 340 118426 111746 7358 65015 302885 -165852 true EMERSON COLLEGE FUNDED SCHOLARSHIPS 1682 32677750 FEDERAL SCHOLARSHIPS 2 33569 STATE SCHOLARSHIPS 260 462466 PART I, LINE 2 EMERSON COLLEGE AWARDS INSTITUTIONAL FINANCIAL ASSISTANCE PRIMARILY ON THE BASIS OF DEMONSTRATED FINANCIAL NEED. COLLEGE MONITORING OF THE FUNDS INCLUDES DIRECTLY CREDITING AWARDS TO THE STUDENT ACCOUNTS WHICH ASSURES THAT FUNDS ARE USED FOR THE EDUCATION PURPOSE INTENDED. ALL AID RECIPIENTS MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS AS OUTLINED IN THE EMERSON COLLEGE STUDENT HANDBOOK. STUDENTS RECEIVING FEDERAL AID MUST HAVE A MINIMUM OF A "C" (2.0) GRADE POINT AVERAGE BY THE END OF THEIR SECOND ACADEMIC YEAR. FINANCIAL AID RECIPIENTS MAY NOT BE IN DEFAULT ON ANY EDUCATION LOANS, OWE A REFUND ON ANY GRANT OR DEMONSTRATE ANY UNWILLINGNESS TO REPAY AN EDUCATIONAL LOAN. X X X X X true true X X X X X X false false false false false false false false false L PELTON PRESIDENT/TRUSTEE 650000 0 0 0 54226 0 22950 0 107222 0 834398 0 0 0 L MOORE VP ACADEMIC AFFAIRS 118563 0 0 0 44788 0 11091 0 4981 0 179423 0 0 0 W GILLIGAN VP INFO TECHNOLOGY 231904 0 0 0 25867 0 27821 0 20521 0 306113 0 0 0 C HUGHES VP & GENERAL COUNSEL 197188 0 0 0 1821 0 18103 0 10142 0 227254 0 0 0 MJ KNOLL FINN VP ENROLLMENT 227250 0 0 0 1728 0 20453 0 16800 0 266231 0 0 0 A TIEDEMANN VP PUBLIC AFFAIRS 191428 0 0 0 965 0 17954 0 58775 0 269122 0 0 0 M MURPHY VP ADMIN & FINANCE 277466 0 0 0 17733 0 22950 0 6692 0 324841 0 0 0 J SCHOENHERR VP DEVELOPMENT & ALUMNI 231432 0 0 0 509 0 21309 0 20536 0 273786 0 0 0 J DONOHOE AVP FOR FINANCE 110510 0 0 0 75466 0 12377 0 17836 0 216189 0 0 0 R ORCHARD EXECUTIVE DIRECTOR 240149 0 0 0 6338 0 21613 0 3256 0 271356 0 0 0 D HEILAND VP & SPECIAL ASST. TO PRES 201500 0 0 0 17410 0 0 0 8567 0 227477 0 0 0 S SPEARS VP DIVERSITY & INCLUSION 194930 0 0 0 14137 0 11754 0 17836 0 238657 0 0 0 M INGS AVP GOVT & COMMUNITY RELATIONS 179080 0 0 0 4303 0 16117 0 3076 0 202576 0 0 0 J LIEBERGOTT FORMER PRESIDENT 0 0 0 0 212180 0 0 0 33711 0 245891 0 0 0 M GATES SR VP FINANCIAL AFFAIRS 211014 0 0 0 1952 0 19236 0 9692 0 241894 0 0 0 D TOBIN PROFESSOR 168096 0 0 0 13976 0 15129 0 9828 0 207029 0 0 0 SCHEDULE J PART I LINE 1a IN ACCORDANCE WITH COLLEGE POLICY, SOME EMERSON EMPLOYEES TRAVELLED FIRST CLASS TRAVEL BASED ON THE LENGTH OF THE FLIGHT OR WITH PRIOR APPROVAL FROM THE PRESIDENT AND IS TREATED AS NON TAXABLE INCOME. PER CONTRACTUAL ARRANGEMENT SOME TRAVEL FOR COMPANIONS IS PROVIDED. SCHEDULE J PART I LINE 1a IN ACCORDANCE WITH COLLEGE POLICY AND AS A CONDITION OF EMPLOYMENT, THE COLLEGE REQUIRES THE PRESIDENT TO LIVE IN A RESIDENCE OWNED BY THE COLLEGE DURING HIS TENURE AS PRESIDENT. THE PRESIDENTIAL RESIDENCE IS EXTENSIVELY USED FOR COLLEGE BUSINESS AND ONLY A PORTION OF THE RESIDENCE IS USED EXCLUSIVELY BY THE PRESIDENT. THE RESIDENCE IS CLEANED FOR COLLEGE EVENTS, THE VALUE OF WHICH IS SO SMALL AS TO MAKE IT ADMINISTRATIVELY IMPRACTICAL TO ACCOUNT FOR. THE VALUE OF SUCH HOUSING FOR CALENDAR 2013 IS INCLUDED IN NON TAXABLE BENEFITS, THE VALUE OF WHICH WAS BASED ON AN INDEPENDENT MARKET APPRAISAL. SCHEDULE J PART 1 LINE 1a OCCASSIONALLY THE COLLEGE MAY PROVIDE CERTAIN PAYMENTS TO OFFICERS THAT HAVE BEEN GROSSED UP FOR TAX PURPOSES, WHICH ARE APPROVED BY THE BOARD OF TRUSTEES. THE BENEFIT IS TREATED AS TAXABLE COMPENSATION. A MDFA-SERIES 2006 A 043431814 57584NAQ6 2006-11-30 86527038 DORMS/CLASSROOMS/OFFICE/THEATER false false false B MDFA-SERIES 2010 A 043431814 57583RY74 2010-06-24 124760655 DORMS/CLASSROOMS/OFFICE/THEATER false false false C CMFA-SERIES 2011 201563466 13048TMZ3 2011-12-08 55463072 LOS ANGELES BUILDING false false false A 23562038 0 86527038 0 0 0 768600 0 0 85758438 0 0 2009 false false true true B 2815000 0 124760655 0 0 0 941526 0 0 109067272 14751857 0 2012 true false true true C 0 0 55463072 0 4837952 0 621432 0 0 50003688 5459384 0 2014 false false true true A false false false false 0 false false false true B false false false false 0.00238 0.00238 false false false true C false false false false 0 false false false true A true false false false false false 0 false 0 false true B false true false false false false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true Shedule K, Part VI THE SERIES 2010A ISSUED BY THE MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY INCLUDED THE REFUNDING OF THE SERIES 1999A ISSUED 4/25/1999. PART II, LINE 11, COLUMN B THE AMOUNTS SPENT REPRESENT FUNDS USED TO REDEEM THE SERIES 1999A. 70181 SCHOLARSHIP X 6 840 ESTIMATE X 1510 DONATED VALUE X 13 401225 MEAN VALUE X 6 22456 DONATED VALUE X GIFT CARDS & CERTIFICATES 22 8547 FACE VALUE X TICKETS 12 5822 FACE VALUE false true false PART I, COLUMN (B) AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS. Part I Line 6 THE COLLEGE IDENTIFIED THE AREAS AND DEPARTMENTS THAT USE VOLUNTEERS DURING THE TAX YEAR. THESE DEPARTMENTS WERE ASKED TO ESTIMATE THE NUMBER OF VOLUNTEERS USED FOR THE VARIOUS PROGRAMS. THE TYPES OF SERVICES PROVIDED BY THESE VOLUNTEERS INCLUDE PHONE-A-THONS, ORIENTATION, CAMPUS TOUR GUIDES, AND INFORMATION SESSIONS. THE NUMBER DOES NOT INCLUDE MEMBERS OF THE GOVERNING BODY AND EMPLOYEES. PART VI, SECTION B, LINE 11B A DRAFT FORM 990 IS GIVEN TO THE AUDIT COMMITTEE FOR THEIR REVIEW. DURING THIS REVIEW, QUESTIONS REGARDING THE DRAFT FORM 990 ARE ANSWERED BY MANAGEMENT. CHANGES ARE MADE IF APPROPRIATE. THE FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE CONVENING BODY BY WAY OF A SECURE, PASSWORD PROTECTED WEBSITE ON WHICH THE ENTIRE FORM 990 AND ALL REQUIRED SCHEDULES ARE AVAILABLE FOR REVIEW. ALL TRUSTEES ARE ASKED TO REVIEW THE FILING AND FORWARD ANY COMMENTS TO MANAGEMENT FOR CONSIDERATION AND DISCUSSION IF NECESSARY WITH THE TAX RETURN PREPARER, CURRENTLY KPMG. AT THE END OF THE REVIEW PERIOD, THE FINAL RETURN, AS IT WILL BE FILED WITH THE IRS, IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. PART VI, SECTION B, LINES 12C THE BY-LAWS OF THE BOARD OF TRUSTEES CONTAIN A WRITTEN CONFLICT OF INTEREST POLICY. MEMBERS OF THE BOARD ANNUALLY ACKNOWLEDGE RECEIPT OF, AND FAMILIARITY WITH, THE POLICY. WHEN A MEMBER OF THE BOARD DISCLOSES A POSSIBLE CONFLICT OF INTEREST, OR WHEN A POSSIBLE CONFLICT IS OTHERWISE IDENTIFIED, IT IS REFERRED TO THE PRESIDENT OF THE COLLEGE AND THE CHAIR OF THE BOARD OF TRUSTEES. THE CHAIR REVIEWS THE POSSIBLE CONFLICT OF INTEREST AND, IF WARRANTED, SELECTS AN AD HOC COMMITTEE TO REVIEW THE POSSIBLE CONFLICT OF INTEREST. THE PRESIDENT AND THE VICE PRESIDENT AND GENERAL COUNSEL OF THE COLLEGE PREPARE A MEMORANDUM DESCRIBING THE POTENTIAL CONFLICT OF INTEREST THAT IS SENT TO THE MEMBERS OF THE AD HOC COMMITTEE. THE MEMBERS OF THE AD HOC COMMITTEE MEET AND DETERMINE WHETHER TO PERMIT THE POTENTIAL CONFLICT OF INTEREST. PART VI, SECTION B, LINES 15A AND 15B THE COLLEGE REVIEWED AND REVISED THE COMPENSATION PAID TO ITS PRESIDENT; VICE PRESIDENTS FOR INFORMATION TECHNOLOGY, GENERAL COUNSEL, DEVELOPMENT, PUBLIC AFFAIRS ADN ENROLLMENT MANAGEMENT. THE COLLEGE WAS ASSISTED THROUGHOUT THE PROCESS BY INDEPENDENT OUTSIDE COUNSEL EXPERIENCED WITH RESPECT TO THE APPLICABLE DUTIES AND REQUIREMENTS. AT THE OUTSET OF THE PROCESS, COUNSEL ADVISED THE BOARD MEMBERS IN WRITING AS TO THE APPLICABLE STANDARDS AND PROCEDURES. VICE PRESIDENT COMPENSATION RECOMMENDATIONS BY THE PRESIDENT WERE INITIALLY REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE AND COUNSEL FIRST DETERMINED THAT NO MEMBER OF THE COMMITTEE HAD A CONFLICT OF INTEREST. THEN, THE PRESIDENT AND THE COMMITTEE CONSIDERED THE RESPONSIBILITIES OF EACH POSITION, THE COLLEGE'S NEEDS AND EXPECTATIONS WITH RESPECT TO EACH POSITION, THE JOB PERFORMANCE OF EACH VICE PRESIDENT, THE FINANCIAL HEALTH OF THE COLLEGE, AND COMPREHENSIVE COMPARABILITY DATA PROVIDED BY AN INDEPENDENT NATIONAL COMPENSATION CONSULTING FIRM. AFTER DISCUSSION, THE COMMITTEE APPROVED RECOMMENDED COMPENSATIONS TO BE SUBMITTED TO THE FULL BOARD OF TRUSTEES. THE PRESIDENT AND VICE PRESIDENT COMPENSATIONS WERE THEN CONSIDERED AT A MEETING OF THE FULL BOARD OF TRUSTEES. FIRST, COUNSEL AND THE TRUSTEES DETERMINED THAT NO TRUSTEE PRESENT AT THE MEETING HAD A CONFLICT OF INTEREST. THEN, IN THE BOARD'S CONSIDERATION OF THE PROPOSED COMPENSATIONS, THE TRUSTEES GAVE PARTICULAR ATTENTION TO THE RESPONSIBILITIES OF THE PRESIDENT AND EACH VICE PRESIDENT POSITION, THE COLLEGE'S NEEDS AND EXPECTATIONS WITH RESPECT TO EACH POSITION, THE FINANCIAL HEALTH OF THE COLLEGE, THE JOB PERFORMANCE OF THE PRESIDENT AND EACH VICE PRESIDENT, THE RECOMMENDATIONS OF THE PRESIDENT AND THE COMPENSATION COMMITTEE, AND THE COMPREHENSIVE COMPARABILITY DATA THAT WAS ALSO CONSIDERED BY THE PRESIDENT AND THE COMPENSATION COMMITTEE. AFTER DISCUSSION, THE BOARD OF TRUSTEES APPROVED COMPENSATION TERMS FOR THE PRESIDENT AND EACH VICE PRESIDENT. THE ABOVE PROCESS, INCLUDING IDENTIFICATION OF THE BOARD MEMBERS WHO WERE PRESENT AND APPROVED THE COMPENSATIONS, WAS DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES MEETING. THESE MINUTES WERE THEN APPROVED AT THE NEXT BOARD OF TRUSTEES MEETING. THE COMPENSATION PROCEDURES OF THE COLLEGE MEET THE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION. PART VI, SECTION C, LINE 19 EMERSON COLLEGE MAKES AVAILABLE FORM 990 AND FORM 990T UPON REQUEST. DURING THE YEAR, THE COLLEGE RECEIVES REGULAR REQUESTS FOR THE TAX DOCUMENTS AND THESE REQUESTS ARE NORMALLY FULFILLED WITHIN A DAY. THE COLLEGE MAKES AVAILABLE ITS GOVERNING DOCUMENTS (BY-LAWS) ON THE COLLEGE'S WEBSITE. THE COLLEGE MAKES AVAILABLE ON ITS WEBSITE ITS CONFLICT OF INTEREST POLICY AND ITS FINANCIAL STATEMENTS. PART XI, LINE 5 CHANGE IN PV CRT $ 108,483 NON-STOCK, NON-CASH CONTRIBUTIONS ( 39,175) MISCELLANEOUS 1,356 ___________ TOTAL $ 70,664