2015-05-14T10:51:18-05:00 2014-06-30 363990892 Capin Crouse LLP 972 Emerson Parkway STE A Greenwood IN 46143 990 2013-07-01 350868073 Earlham College EARL 7659831200 801 National Road West Richmond IN 47374 Sena K Landey VP Finance & Administration 7659831200 2015-05-14 1 David C Moja P00747006 3178852620 2013 2016-03-07 17:11:31Z John David Dawson 801 National Road West Richmond IN 47374 136543286 0 X www.earlham.edu X 1881 IN An intellectually challenging, globally engaged, and socially concerned liberal arts college. 24 23 1591 500 722527 0 27783989 23233405 52248510 53193558 10046257 11928352 0 0 90078756 88355315 25593779 29877345 0 0 28092041 27218265 0 0 1906931 24327467 26525028 78013287 83620638 12065469 4734677 319527943 394605977 101949500 97280847 217578443 297325130 X The mission of Earlham College, an independent, residential college, is to provide the highest quality undergraduate education in the liberal arts, including the sciences, shaped by the distinctive perspectives of the Religious Society of Friends (Quakers). The College provides extensive opportunities for students and faculty to learn from each other in a cooperative community, an important aspect of which is collaborative student/faculty research. At Earlham, College education is carried on with a concern for the world in which we live and for improving human society. Therefore, Earlham stresses global education, peaceful resolution of conflict, equality of persons, and high moral standards of personal conduct. 0 0 71462147 29550377 52712846 Earlham College - Providing high quality liberal arts education for approximately 1,000 undergraduates and 50 graduate students. Serving the local community through arts, music, and cultural events open to the public. Students volunteer with many community service organizations. Approximately 2,500 people in the local community are served in this way. 1334277 326968 480712 Earlham School of Religion - Providing seminary training for approximately 100 students. 72796424 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 1 0 1 X 1462 0 1 1591 1 1 1 1 UK GM AU JA EI FR MX SP NZ 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN X Sena K Landey 7659831200 801 National Road West Richmond IN 47374 Deborah Hull Chair 4.00 X X 0 0 0 John Young Vice Chair 2.00 X X 0 0 0 Raymond Ontko Secretary 2.00 X X 0 0 0 John David Dawson President 50.00 X X 324347 0 98772 Ellie Bewley Trustee 2.00 X 0 0 0 Gerry Cooper Trustee 2.00 X 0 0 0 William Dubois Trustee 2.00 X 0 0 0 Tom Farquhar Trustee 2.00 X 0 0 0 Barbara Gottschalk Trustee 2.00 X 0 0 0 Della Stanley-Green Trustee 2.00 X 0 0 0 Diana Hadley Trustee 2.00 X 0 0 0 Ian Henry Trustee 2.00 X 0 0 0 Peggy Hollingsworth Trustee 2.00 X 0 0 0 Steven Lopez Trustee 2.00 X 0 0 0 Fred McClure Trustee 2.00 X 0 0 0 David Matthews Trustee 2.00 X 0 0 0 Steve Mills Trustee 2.00 X 0 0 0 Virginia Mills Trustee 2.00 X 0 0 0 Karen Reed Trustee 2.00 X 0 0 0 Randall Sadler Trustee 2.00 1.00 X 0 0 0 John Scarlett Trustee 2.00 X 0 0 0 Marion Shore Trustee 2.00 1.00 X 0 0 0 David Stump Trustee 2.00 X 0 0 0 Catherine Tinsley Trustee 2.00 X 0 0 0 Gregory Mahler VP of Academic Affairs 50.00 X 166016 0 42650 Sena Landey VP of Finance & Administration 50.00 3.00 X 180019 0 26488 Laura Hutchinson VP Student Dev & Dean Students 50.00 X 137785 0 22962 Nelson Bingham Provost 50.00 X 131039 0 25337 Avis Stewart VP for Community Relations 50.00 X 118965 0 21991 Jay Marshall VP and Dean of ESR 50.00 X 138593 0 35141 James McKey VP for Advancement 50.00 X 189489 0 31114 Jonathan Stroud VP for Enrollment & Comm. 50.00 X 173688 0 32079 Phillip Morgan Chief Investment Officer 40.00 10.00 X 132604 0 21603 Stephen Angell Professor of Quaker Studies 50.00 X 101306 0 32981 1793851 0 391118 11 0 1 0 Aramark Incorporated 1101 Market St Philadelphia PA 19107 Housekeeping 1367326 Boora Architects 720 SW Washington Suite 800 Portland OR 97205 Architect/Engineer 1213261 LWC Incorporated 4440 Garwood Place Richmond IN 47374 Architect/Engineer 392004 Collaborative Inc 500 Madison Ave Toledo OH 43604 Consulting 200808 Prime Buchholz 273 Corporate Drive Suite 250 Portsmouth NH 03801 Investment Services 184265 8 11682520 940196 10610689 830371 23233405 Tuition and fees 900099 43434001 43434001 Auxiliary income 611710 8731643 8731643 Other income 900003 1027914 1027914 53193558 3120424 722527 2397897 56995899 48187971 8807928 8807928 8807928 88355315 53193558 722527 11205825 2169654 2169654 27707691 27707691 2121710 620738 1216250 284722 19168701 15167052 3115154 886495 1165777 922297 181811 61669 3380082 2914131 278969 186982 1381995 1071930 241473 68592 90481 90481 176076 176076 341240 341240 3567768 2284714 1236772 46282 100983 58685 42298 3243364 2533606 535554 174204 772209 493238 268460 10511 3420943 3408202 11228 1513 1186136 971788 141615 72733 198423 146096 47771 4556 2187993 2184816 3177 3695295 3446572 203094 45629 410566 153667 256899 Meals 3291744 3074760 192306 24678 Foreign Study 1985332 1959902 25430 Cost of Goods Sold 347993 347993 Library Purchases 320308 320308 1188174 838584 311225 38365 83620638 72796424 8917283 1906931 31267 36887 33582933 20960676 2420522 1774158 1083317 1154635 187650 130995 315846 772783 185015197 56904093 105071779 128111104 71241953 100228038 235111686 4128376 4237033 1236262 2316020 319527943 394605977 10484307 7462567 159806 83454703 81672380 8010490 7986094 101949500 97280847 X 45867692 96944484 153118164 182060294 18592587 18320352 217578443 297325130 319527943 394605977 X 4734677 26247516 48150710 613784 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 140093077 305319 38031321 10244172 -47188903 341240 215033208 120545802 21064997 1240528 277194 140093077 117265491 505382 3021460 246531 120545802 100667729 19398402 2563809 236831 117265491 90271905 12202423 1806599 100667729 0.16900 0.08520 0.74580 0 1 1 2609155 2609155 111443080 40988166 70454914 19253762 15915927 3337835 51709200 51709200 128111104 Alternative Investments 235111686 F 235111686 Deposits 522790 Amounts Held for Others 570884 Annuities Payable 2776942 Advances for Student Loans 4115478 7986094 87315907 26247516 613784 26861300 60454607 341240 27559468 27900708 88355315 55719930 0 55719930 341240 27559468 27900708 83620638 Part V, Line 4: Earlham's endowment funds are used to support the educational programs of the College. In addition to the $215,033,208 in endowed funds reported here, a related party, Earlham Foundation, holds $189,965,651 in endowed funds for the benefit of Earlham College. The consolidated endowment balance is $404,998,769. The amount reported on Line 1e represents a prior period adjustment correcting the ownership of a portion of the endowed assets. Part XI, Line 2d - Other Adjustments: Change in split interest agreements 613,784. Part XI, Line 4b - Other Adjustments: Scholarships 27,559,468. Part XII, Line 4b - Other Adjustments: Scholarships 27,559,468. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Earlham does not actively solicit students via newspaper or broadcast media. In its catalog and other general written communication available to the general public, it publicizes its racially non-discriminatory policy. Being a Quaker institution, Earlham College has had a long history of nondiscrimination. This fact is well known in the general community it serves. Schedule E, Part I, Line 6 Earlham participates in the federal Title IV financial aid program for its students. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Program Services Study abroad program 101032 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 0 0 Program Services Study abroad program 298405 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Program Services Study abroad program 804721 Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, 0 0 Program Services Study abroad program 92555 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 0 0 Program Services Study abroad program 29878 South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, 0 0 Program Services Study abroad program 82577 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, Investments 13493312 0 0 0 0 0 0 14902480 0 14902480 0 0 0 0 0 0 Part I, Line 2: Earlham leads many study abroad programs for its students each year. These programs range in duration from 2 weeks to 6 months long. We track all direct expenses for these programs separately. The expenditures reflected on Line 3 include travel, meals, lodging, cultural events, and salaries for full-time Earlham professors who lead the programs. Part I, line 3: Expenditures are accounted for using the accrual method of accounting. 1 Earlham Foundation 801 National Road West Richmond IN 47374 356014491 501 (c) 3 2169654 Hold and invest gifts 1 Scholarships and Financial Aid Awards 723 27707691 Part I, Line 2: The College awards scholarships and financial aid awards. These funds are disbursed by the College's Financial Aid Department in strict adherence to all Federal and state regulations. The College also grants money to Ealham Foundation, a related organization, to hold and invest the assets on the College's behalf. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 John David Dawson President 298543 0 0 0 25804 0 42315 0 57132 0 423794 0 0 0 Gregory Mahler VP of Academic Affairs 166016 0 0 0 0 0 18143 0 24961 0 209120 0 0 0 Sena Landey VP of Finance & Administration 180019 0 0 0 0 0 3094 0 23857 0 206970 0 0 0 Laura Hutchinson VP Student Dev & Dean Students 137785 0 0 0 0 0 620 0 22727 0 161132 0 0 0 Nelson Bingham Provost 131039 0 0 0 0 0 13448 0 12219 0 156706 0 0 0 Jay Marshall VP and Dean of ESR 138593 0 0 0 0 0 14759 0 20698 0 174050 0 0 0 James McKey VP for Advancement 186506 0 0 0 2983 0 19475 0 12121 0 221085 0 0 0 Jonathan Stroud VP for Enrollment & Comm. 150410 0 0 0 23278 0 17425 0 15031 0 206144 0 0 0 Phillip Morgan Chief Investment Officer 132604 0 0 0 0 0 0 0 21965 0 154569 0 0 0 Part I, Line 1a Earlham College provides a residence with housekeeping services for personal use to John David Dawson, the College's President. The residence is not included in taxable compensation. The annual value of the President's housing is $13,000. The residence is furnished for the convenience of Earlham College, the President was required to live in the residence as a condition of his employment, and his residence is contiguous to Earlham's campus. A IN Educational Facilities Authority 521698917 455048Y77 2004-08-06 9036370 Finance refunding/Refunding of 1991 and 1995 Bonds 0 0 0 B IN Health & Educational Facilities Authority 351611409 454795CTO 2007-06-28 15661682 Construction/Renovation/Expansion/Refunding of 1998 Bonds 0 0 0 C Indiana Finance Authority 351602316 45506DEP6 2013-01-30 62764109 Construction/Renovation/Expansion/Refunding of 1998 and 2004 Bonds 0 0 0 A 1636370 9313769 80150 5247148 3986471 2007 1 0 1 1 B 3671682 16138055 2448000 148607 13536071 5378 2010 0 1 1 1 C 4829109 62854307 2390856 11851137 498152 30245242 17846172 2014 1 1 0 1 A 0 0 0 0 0.01240 0.02410 0.03650 0 0 1 B 0 0 0 0 0.03020 0.03020 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 Date Rebate Computation Performed Issuer Name: IN Educational Facilities Authority Date the Rebate Computation was Performed: 09/01/2012 Issuer Name: IN Health & Educational Facilities Authority Date the Rebate Computation was Performed: 09/01/2012 Schedule K, Part II, line 3 The difference between the amounts reported on Part II, Line 3 and the amounts reported in Part I, column (e) is interest income. 22754 Tuition Assist. Merit-based X 17 830371 Fair market value 0 1 0 Form 990, Part VI, Section A, line 1 The Executive Committee has and may exercise all of the authority of the Board of Trustees in the management of the Corporation's affairs during intervals between the meetings of the Board of Trustees, provided that the any official action taken by the Executive Committee on behalf of Earlham or the Board (a) is consistent with existing Board policies or prior delegations of authority to it, (b) is undertaken after notice to all trustees with no trustee objecting, or (c) is reasonably required in the judgment of the Board Chair and President to protect the best interests of Earlham from prejudice. The Executive Committee shall be subject to the authority and supervision of the Board of Trustees. The Chair of the Board shall serve as the chair of the Executive Committee. The members of the Executive Committee shall also include the Vice Chair, Secretary, President, and the chairs of the Board's Standing Committees except the Investment Committee. The Chair may invite other trustees, officers of Earlham, or advisors to the Board or Earlham to participate in any meeting of the Executive Committee. Form 990, Part VI, Section A, line 7a Western Yearly Meeting of Friends appoints six trustees to the Earlham Board. The Earlham Alumni Association elects four trustees. Seven trustees are nominated by the Earlham Board of Trustees and approved by Western Yearly Meeting. Additionally, six trustees are nominated and appointed solely by the Earlham Board and the President serves ex officio. Form 990, Part VI, Section B, line 11 The Form 990 is prepared by an independent CPA firm. The Assistant Controller, Controller and VP of Finance and Administration perform a detailed review. Then, a copy of the Form 990 is provided to each member of the full governing body prior to its filing. Form 990, Part VI, Section B, line 12c Earlham's conflict of interest policy requires that officers, trustees, and key employees disclose any situations that may result in a conflict of interest or the appearance of a conflict of interest. Questionnaires must be completed annually but updated sooner if a person's situation changes. Disclosures are summarized and reviewed by the Audit Committee of the Board. If a trustee has a conflict, they will not participate in the decision-making process. Form 990, Part VI, Section B, line 15 15a - The President's compensation is reviewed and determined annually by a Committee consisting of the current and immediate past Chair of the Board of Trustees. The Committee considers compensation data from other schools from the Great Lakes Colleges Association salary comparisons while undertaking their review and documents the decision in the committee minutes. 15b - The President reviews and determines annually the compensation of Vice Presidents and Deans, taking into consideration comparability data and the approved budget for compensation increases, if any. This process is documented. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: Change in split interest agreements 613,784. Form 990, Part XII, Line 2c The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. Form 990, Part XI, Line 8 The prior period adjustment was made to properly report the correct ownership of endowment funds incorrectly reported as Earlham Foundation assets in prior year. Earlham Foundation 801 National Road West Richmond IN 47374 356014491 Support IN 501(c)(2) Earlham College 0 Charitable Remainder Trusts (7) Trust IN N/A T 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Earlham Foundation C 11682520 Book value Earlham Foundation N 6000 Book value Earlham Foundation O 151262 Book value Earlham Foundation B 2169654 Book value