2015-05-15T09:27:31-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 300 CROWN COLONY DRIVE SUITE 310 QUINCY MA 02169 990 2013-07-01 030179593 MARLBORO COLLEGE MARL 8022517607 2582 SOUTH ROAD PO BOX A MARLBORO VT 05344 ELLEN MCCULLOCH-LOVELL PRESIDENT 8022517607 2015-05-14 1 AMY HENDLEY P01300654 6179848100 2013 2016-02-25 16:41:14Z ELLEN MCCULLOCH-LOVELL 2582 SOUTH ROAD PO BOX A MARLBORO VT 05344 30978020 0 X WWW.MARLBORO.EDU X 1946 VT PROVIDE UNDERGRADUATE AND GRADUATE EDUCATION 20 19 466 22 8002 0 3406668 6372914 12787292 12711559 463149 784180 337680 522571 16994789 20391224 4285531 4432416 0 0 8766412 8871076 0 0 346617 5989366 6854657 19041309 20158149 -2046520 233075 60577964 66045757 7475657 6797876 53102307 59247881 X THE MISSION OF MARLBORO COLLEGE IS TO TEACH STUDENTS TO THINK CLEARLY AND TO LEARN INDEPENDENTLY THROUGH ENGAGEMENT IN A STRUCTURED PROGRAM OF LIBERAL STUDIES. STUDENTS ARE EXPECTED TO DEVELOP A COMMAND OF CONCISE AND CORRECT ENGLIGH AND TO STRIVE FOR ACADEMIC EXCELLENCE FORMED BY INTELLECTUAL AND ARTISTIC CREATIVITY; THEY ARE ENCOURAGED TO ACQUIRE A PASSION FOR LEARNING, DISCERNING JUDGMENT AND A GLOBAL PERSPECTIVE. THE COLLEGE PROMOTES INDEPENDENCE BY REQUIRING STUDENTS TO PARTICIPATE IN THE PLANNING OF THEIR OWN PROGRAMS OF STUDY AND TO ACT RESPONSIBLY WITHIN A SELF-GOVERNING COMMUNITY. 0 0 12305665 4432416 12711559 EDUCATIONPROVIDE POST-SECONDARY LIBERAL ARTS DEGREE PROGRAM FOR APPROXIMATLEY 255 UNDERGRADUATE STUDENTS AND 254 MASTERS OF ARTS AND SCIENCE DEGREE STUDENTS. 12305665 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 89 0 1 466 1 1 1 1 CJ BD 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ANNE PRATT 8022517607 2582 SOUTH ROAD MARLBORO VT 05344 ELLEN MCCULLOCH-LOVELL PRESIDENT 40.00 X X 207569 0 28288 DEAN NICYPER CHAIRMAN 1.00 X X 0 0 0 PHILLIP H STECKLER III TREASURER 1.00 X X 0 0 0 RICHARD H SAUDEK CLERK 1.00 X X 0 0 0 J BARTON GOODWIN DIRECTOR 1.00 X 0 0 0 JOHN W Y CHAN DIRECTOR 1.00 X 0 0 0 DENA S DAVIS DIRECTOR 1.00 X 0 0 0 KAREN DAVIS DIRECTOR 1.00 X 0 0 0 ELIZABETH DOYLE GLENSHAW DIRECTOR 1.00 X 0 0 0 PETER GALBRAITH DIRECTOR 1.00 X 0 0 0 ROBERTA HAHN DIRECTOR 1.00 X 0 0 0 GRETCHEN HOLBROOK GERZINA DIRECTOR 1.00 X 0 0 0 WOLF KAHN DIRECTOR 1.00 X 0 0 0 LINDY F LINDER DIRECTOR 1.00 X 0 0 0 PETER T MALLARY DIRECTOR 1.00 X 0 0 0 KIRSTEN MALONE DIRECTOR 1.00 X 0 0 0 ELIZABETH J MCCORMACK ARON DIRECTOR 1.00 X 0 0 0 STEPHAN MORSE DIRECTOR 1.00 X 0 0 0 KIRSTEN A NEWCOMER DIRECTOR 1.00 X 0 0 0 SUZANNE M OLBRICHT MD DIRECTOR 1.00 X 0 0 0 D EDWARD SMYTH DIRECTOR 1.00 X 0 0 0 EDWARD E WENDELL JR DIRECTOR 1.00 X 0 0 0 MARTA WILLGOOSE DIRECTOR 1.00 X 0 0 0 PETER H ZAMORE DIRECTOR 1.00 X 0 0 0 BRYANT MORGAN CHIEF BUDGET & PLANNING OFFICER 40.00 X 93134 0 23602 300703 0 51890 2 0 1 0 METZ AND ASSOCIATES LTD TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 661526 KINGDOM COUNTY PRODUCTIONS 949 SOMERS ROAD BARNET VT 05821 THEATRE PRODUCTIONS 306738 KOR GROUP LTD 374 CONGRESS STREET SUITE 503 BOSTON MA 02210 BRAND ARCHITECTURE 239069 CHESAPEAKE ASSET MANAGEMENT ONE ROCKEFELLER PLAZA NEW YORK NY 10020 INVESTMENT MANAGER 134891 4 74450 6298464 4014619 6372914 TUITION AND FEES 611600 10712759 10712759 AUXILIARY SERVICES 611710 1998800 1998800 12711559 321710 8002 313708 967304 535106 432198 432198 432198 10514160 9934391 117299 579769 -117299 462470 462470 OTHER SOURCES 900099 90373 90373 90373 20391224 12711559 8002 1298749 4432416 4432416 357958 357958 6848793 4977842 1662476 208475 210612 210612 963826 115319 842507 6000 489887 342198 133565 14124 114741 673 114068 69150 69150 702087 702087 1145821 702417 393285 50119 105683 43079 62604 478776 193628 255710 29438 28330 12110 15224 996 894745 215053 679692 370435 268111 84359 17965 23430 8796 14634 168978 168978 886808 886808 390972 390972 FOOD & LABOR 728501 699350 22161 6990 LIBRARY 55817 53400 2417 MAINTENANCE CONTRACTS 51529 3769 47760 SANITATION REMOVAL 51389 27919 23470 587465 209585 365370 12510 20158149 12305665 7505867 346617 485701 328150 4082548 7016344 153143 625432 372765 213965 28183 0 155888 161012 61601 49714 33687137 14457212 19712450 19229925 8800630 9071032 26254151 28838224 470904 511959 60577964 66045757 1424724 1469022 673590 547062 2280000 1920000 2722781 2652700 374562 209092 7475657 6797876 X 16922195 16349281 7373592 13838872 28806520 29059728 53102307 59247881 60577964 66045757 X 233075 5711575 200924 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37168064 505057 5223639 2475976 40420784 36740229 299798 4109834 3981797 37168064 40074198 324414 -1342398 2315985 36740229 34035298 1000864 6801036 1763000 40074198 28798813 2277897 4412588 1454000 34035298 0.06950 0.71890 0.21160 0 0 1359675 1359675 23379867 8838835 14541032 8507888 5618377 2889511 439707 439707 19229925 ABRAMS CAPITAL 4364484 F COMPASS VENTURE PARTNERS 13551 F DENHAM CAPITAL MANAGEMENT 286981 F DISCOVERY EQUITY PARTNERS 1853161 F GEOLOGIC RESOURCES FUND 586752 F GLENMONT CAPITAL MANAGMENT 818131 F GLENMONT ORLANDO CO-INVESTMENT PARTNERS 442203 F GMO QUALITY FUND 2631705 F ILS PARTNERS LP 44356 F JAPAN CHICKADEE 2162452 F KILTEARN GROUP 1890308 F MARBLEGATE SPEC OPP 2728930 F MERUS 316872 F NEON-LORIKEET 1785836 F OPEN PEAK INVESTMENT 200009 F OPEN PEAK V, LP 187857 F OPEN PEAK VII, LP 79285 F PRIMAVERA INVESTMENT 1152108 F RIVERWOOD 1862577 F SERVERTIS FUND 12690 F WESTWOOD GLOBAL INVESTMENTS 1902929 F ZAIS GROUP 2 F RIVERWOOD PARTNERS II 48332 F MERCED PARTNERS IV 549128 F HENGISTBURY FUND LP 511795 F G2 INVESTMENTS 1860238 F TCV INVESTMENTS 43770 F VIRGO INVESTMENT 501782 F 28838224 DISCOUNT FOR FUTURE INTEREST 47464 ENVIRONMENTAL REMEDIATION LIABILITY 161628 209092 X 15165075 5711575 21997 535106 6268678 8896397 567080 10927747 11494827 20391224 15715756 21997 535106 557103 15158653 567080 4432416 4999496 20158149 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE HAS ADOPTED A POLICY THAT CLARIFIED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO MATERIAL IMPACT ON THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE FILES AS A TAX EXEMPT ORGANIZATION. THE COLLEGE'S 2011 THROUGH 2013 TAX YEARS ARE OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 535,106. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,432,416. NON-OPERATING CONTRIBUTIONS 2,852,207. NON-OPERATING NET INVESTMENT INCOME 3,643,124. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 535,106. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,432,416. 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 NONDISCRIMINATION POLICY IS PUBLISHED IN THE COLLEGE CATALOGUE AND STUDENT HANDBOOK, AND WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL AND STATE GOVERNMENT GRANT MONEY. 1 SCHOLARSHIPS/ASSISTANCE 4432416 N/A N/A PART I, LINE 2: THE STUDENTS MUST APPLY FOR THE GRANTS AND MEET THE REQUIREMENTS OF THE VARIOUS GRANTS. THE PROCESS BY WHICH EACH GRANT IS AWARDED AND MONITORED IS FORMALIZED IN A POLICY WHICH IS UPDATED BY THE ASSOCIATE DIRECTOR OF FINANCIAL AID. X X 0 0 0 0 0 0 0 0 0 ELLEN MCCULLOCH-LOVELL PRESIDENT 155626 0 50000 0 1943 0 10823 0 17465 0 235857 0 0 0 X 9 4014619 FMV 0 0 1 0 PART I, COLUMN (B): NUMBER REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1 THE COLLEGE HAS AN EXECUTIVE COMMITTEE WHICH CONSISTS OF THE CHAIRMAN, VICE CHAIRMAN, TREASURER, AND CLERK OF THE GOVERNING BODY. THE ROLE OF THE EXECUTIVE COMMITTEE IS TO ADVISE THE PRESIDENT BETWEEN MEETINGS AND OCCASIONALLY MAKE DECISIONS ON BEHALF OF THE BOARD, WHEN THE MATTER IS URGENT AND IT IS NOT FEASIBLE FOR THE ENTIRE BOARD TO CONSIDER THE MATTER. AT THE FEBRUARY 5, 2011, MEETING TRUSTEES VOTED TO ALLOW THE EXECUTIVE COMMITTEE TO VOTE WITH THE PROVISO THAT ANY DECISION IS THEN CONVEYED TO THE BOARD AND THE BOARD COULD RECONSIDER IT AT THE NEXT MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT, FINANCIAL MANAGEMENT OFFICER AND CHIEF PLANNING AND BUDGET OFFICER REVIEW THE FORM 990 PRIOR TO A REVIEW BY THE AUDIT COMMITTEE. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE GOVERNING BODY AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND SIGN A DOCUMENT REGARDING COMPLIANCE WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. THE PRESIDENT'S ASSISTANT MONITORS COMPLIANCE ON BEHALF OF THE BOARD. THE BOARD IS RESPONSIBLE FOR ENFORCEMENT ACTION ON THE POLICY. SHOULD ANY CONFLICT BE IDENTIFIED, THE INDIVIDUAL WOULD NOT PARTICIPATE IN THE DISCUSSION OR VOTING ON THE ISSUE. A TRUSTEE WHO PLANS NOT TO ATTEND A MEETING AT WHICH HE OR SHE HAS REASON TO BELIEVE THAT THE BOARD OR COMMITTEE WILL ACT ON A MATTER IN WHICH THE PERSON HAS A CONFLICT OF INTEREST SHALL DISCLOSE TO THE CHAIR OF THE MEETING ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. THE CHAIR SHALL REPORT THE DISCLOSURE AT THE MEETING AND THE DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT COMPENSATION PACKAGE AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. THIS PROCESS TOOK PLACE IN 2012. THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION PACKAGE OF THE CHIEF BUDGET & PLANNING OFFICER AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. THIS PROCESS TOOK PLACE IN 2011. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 200,924. CHARITABLE REMAINDER UNITRUST (1) CHARITABLE FUNDING VT 0 POOLED INCOME FUNDS (1) CHARITABLE FUNDING VT 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0