2015-05-13T13:27:34-05:00 2014-06-30 910189318 Moss Adams LLP 3121 West March Lane Suite 100 Stockton CA 95219 990 2013-07-01 951664101 Claremont McKenna College CLAR 9096218043 500 E Ninth Street Claremont CA 91711 Mia Alonzo Controller 9096218043 2015-05-11 1 Tracy S Paglia P00366884 2099556100 2013 2016-02-25 16:41:14Z Hiram Chodosh 500 E Ninth Street Claremont CA 91711 851894595 0 X www.claremontmckenna.edu X 1946 CA CMC is an independent, residential, liberal arts college whose mission is to educate its students for responsible eadership in business, government, and the professions. 45 44 1798 0 -2047601 -2137199 30956801 25735835 75337658 79424096 41286157 51133774 1303855 1300454 148884471 157594159 20743168 21137923 0 0 50891858 52799243 0 0 4507799 49871092 51136069 121506118 125073235 27378353 32520924 1150673481 1262675839 232230326 234602194 918443155 1028073645 X Claremont McKenna College is a highly selective, independent, coeducational, residential, liberal arts college. Its mission, within the mutually supportive framework of The Claremont Colleges, is to educate its students for thoughtful and productive lives and responsible leadership in business, government, and the professions, and to support faculty and student scholarship that contribute to intellectual vitality and the understanding of public policy issues. The College pursues this mission by providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 0 0 105649648 21137923 79218644 The College's primary exempt purpose achievement is providing a liberal arts education that emphasizes economics and political science, a professoriate that is dedicated to effective undergraduate teaching, a close student-teacher relationship that fosters critical inquiry, an active residential and intellectual environment that promotes responsible citizenship, and a program of research institutes and scholarly support that makes possible a faculty of teacher-scholars. 105649648 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 2137 0 1 1798 1 1 1 1 CJ EI 0 0 0 0 0 0 0 0 X 45 44 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Mia Alonzo 9096218043 101 S Mills Ave Claremont CA 91711 Abbott L Brown Trustee 1.00 X 0 0 0 Akshata N Murty Trustee 1.00 X 0 0 0 Arie Steven Crown Trustee 1.00 X 0 0 0 Barton Evans Trustee 1.00 X 0 0 0 Bruce Soll Trustee 1.00 X 0 0 0 Carolyn H Kuhl Trustee 1.00 X 0 0 0 Christine H Mann Trustee 1.00 X 0 0 0 Christopher V Walker Trustee 1.00 X 0 0 0 David Drier Trustee 1.00 X 0 0 0 David G Mgrublian Trustee 1.00 X 0 0 0 Douglas L Peterson Trustee 1.00 X 0 0 0 E David Hetz Vice Chair of the Board 1.00 X X 0 0 0 Fredric J Prager Trustee 1.00 X 0 0 0 G Jeffrey Records Jr Trustee 1.00 X 0 0 0 George R Roberts Trustee 1.00 X 0 0 0 Gregory Hinckley Trustee 1.00 X 0 0 0 Harry T McMahon Chair of the Board 1.00 1.00 X X 0 0 0 Henry R Kravis Trustee 1.00 X 0 0 0 Hiram Chodosh President 40.00 3.00 X X 234852 0 81830 James B Bemowski Trustee 1.00 X 0 0 0 James B McElwee Trustee 1.00 X 0 0 0 Jeffrey S Klein Trustee 1.00 X 0 0 0 Jill Mullen Trustee 1.00 X 0 0 0 John C Pritzlaff III Trustee 1.00 X 0 0 0 John Isaacson Trustee 1.00 X 0 0 0 John McDowell Trustee 1.00 X 0 0 0 Julie Sweet Trustee 1.00 X 0 0 0 Karl M Schade Trustee 1.00 X 0 0 0 Kenneth J Valach Trustee 1.00 X 0 0 0 Kenneth M Novack Trustee 1.00 X 0 0 0 Laura Grisolano Trustee 1.00 X 0 0 0 Michael Larson Trustee 1.00 X 0 0 0 Nancy K Falk Trustee 1.00 X 0 0 0 Perry A Lerner Trustee 1.00 X 0 0 0 Peter K Barker Vice Chair of the Board 1.00 X X 0 0 0 Rey Ramsey Trustee 1.00 X 0 0 0 Robert A Day Vice Chair of the Board 1.00 X X 0 0 0 Robert C Nakasone Trustee 1.00 X 0 0 0 Robert J Lowe Vice Chair of the Board 1.00 X X 0 0 0 Rossi Russell Trustee 1.00 X 6440 0 0 Shaw B Wagener Trustee 1.00 X 0 0 0 Steven L Eggert Trustee 1.00 X 0 0 0 Thomas B Neff Trustee 1.00 X 0 0 0 Thomas C Leppert Trustee 1.00 X 0 0 0 Thomas M Mitchell Trustee 1.00 X 0 0 0 William F Podlich Trustee 1.00 X 0 0 0 Matthew Bibbens VP, Admin & Plan, Gen; Coun, Sec of the College 40.00 1.00 X 213454 0 54476 Mia Alonzo Controller 4.00 20.00 X 0 117397 25837 Robin Aspinall VP, Business & Administration/Tresurer 40.00 1.00 X 272998 0 46810 Ernest Iseminger VP for Development and External Relations 40.00 X 340907 0 43142 James Floyd VP and Chief Investment Officer 40.00 X 257700 0 26592 Jefferson Huang VP for Stu Aff, Adm, and Fin Aid 40.00 X 223863 0 41587 John Faranda VP, Alumni and Parent Relations 40.00 X 188172 0 33577 Nicholas Warner Interim VP Acad Affairs & Dean of Faculty 40.00 X 174334 0 27122 Eric Hughson Faculty 40.00 X 316058 0 42947 Janet Smith Faculty 40.00 X 272696 0 39068 Lisa Meulbroek Faculty 40.00 X 328650 0 29302 Pamela Gann Faculty 40.00 X 511373 0 57588 Stephen Blomberg Faculty 40.00 X 294917 0 64681 Gregory Hess Former VP Acad Aff & Dean of Fac 40.00 X 186593 0 34353 3823007 117397 648912 130 1 1 0 Del Amo Construction Inc 23840 Madison Street Torrance CA 90505 Construction 16917134 Bon Appetit Inc 1000 West Temple Street Los Angeles CA 900740196 Food Service 2578884 John Friedman Alice Kimm Architects 701 E 3rd St Suite 300 Los Angeles CA 90013 Architects 2185889 Pfeiffer Partners Architects Inc 811 West 7th Street Los Angeles CA 90017 Architects 1949668 Cambridge Associates LLC PO Box 83232 Chicago IL 606910232 Consultant Services 1102826 33 278443 25457392 2122614 25735835 Tuition & fees 611600 77138760 77138760 Private contracts 900099 853972 853972 Children sch. tuition 611710 614471 614471 Fed. grants & contracts 611600 510622 510622 Rental & catering 531390 205599 147 205452 100672 100672 79424096 6287150 -2047601 8334751 200669 200669 514 514 892828 535918 356910 356910 356910 738410473 693764518 44645955 44645955 44645955 Miscellaneous income 900099 873200 873200 Vending, store & laundry 453000 69830 69830 943030 157594159 79218644 -2047601 54687281 21137923 21137923 2690713 855466 1075694 759553 208053 208053 38172931 34314524 2141653 1716754 4488537 3830931 431104 226502 4315711 3625272 416587 273852 2923298 2495940 280162 147196 471692 14230 457462 299909 299909 3468159 3468159 3125233 2443609 520371 161253 1631811 661738 715676 254397 4449739 3738503 491594 219642 1422248 1228692 79269 114287 2251367 2116040 104573 30754 3653142 3211850 187356 253936 167141 122710 35010 9421 6975678 6654538 238832 82308 7918818 5058173 2790512 70133 7986607 7528901 340396 117310 455842 152633 281642 21567 Food & housing 3113755 3020824 80900 12031 Building repair 1753992 1695733 45212 13047 Noncap equip 563743 537170 24884 1689 Books & periodicals 144965 136693 5708 2564 1282228 859502 403123 19603 125073235 105649648 14915788 4507799 1659019 732384 20118884 26540114 206532776 196766157 5217973 4957145 72757 63179 5500668 6372644 292696823 79977942 186498646 212718881 433439821 500068392 274424685 297247956 11348633 10989724 5859619 6219263 1150673481 1262675839 16123117 17818525 1289309 1752385 162349431 162158378 1072139 983030 51396330 51889876 232230326 234602194 X 211539562 244906535 413013068 475272755 293890525 307894355 918443155 1028073645 1150673481 1262675839 X 32520924 72073705 5035861 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 711903791 10404200 116565027 8065887 19829453 4095558 806882120 632470112 12135943 95707378 7539559 16752664 4117419 711903791 651200402 11476757 -922179 7393873 18066286 3824709 632470112 571947973 11786353 96375840 7340993 17689208 3879563 651200402 513512739 17195554 69610780 7184110 17251378 3935612 571947973 0.19480 0.35070 0.45450 0 0 5010328 5010328 194690307 56094176 138596131 27120936 17086711 10034225 65875252 6797055 59078197 212718881 Assets whose use is limited 5212104 F Private equity and venture capital 99093607 F Real Estate, Energy, & Timber 53125870 F Long/Short Equity 49391041 F Absolute Return Funds 90425334 F 297247956 Annuities payable 44045976 Defined benefit plan payable 746282 Funds held in trust 3127854 Government advance for student loans 3240704 Asset Retirement Obligation 729060 51889876 X 210345470 72073705 5571779 77645484 132699986 4095324 20798849 24894173 157594159 100714980 535918 535918 100179062 4095324 20798849 24894173 125073235 Part V, Line 4: The College uses the earnings of its endowment funds in accordance with donor restrictions. Where no donor intent is specified, the earnings fund the general operations of the College. Part X, Line 2: The College had no unrecognized tax benefits and/or obligations at June 30, 2014 and 2013. Part XI, Line 2d - Other Adjustments: Rental expenses reclassified to Form 990, part VIII, line 6b 535,918. Actuarial adjustment 4,742,241. Staff retirement plan comprehensive loss 293,620. Part XI, Line 4b - Other Adjustments: Student aid, reclassified to expenses 20,798,849. Part XII, Line 2d - Other Adjustments: Rental expenses reclassified to Form 990, part VIII, line 6b 535,918. Part XII, Line 4b - Other Adjustments: Student aid, reclassified to expenses 20,798,849. 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 College's Non-Discrimination Policy is publicized in brochures, the catalog, and is accessible on the college website. Schedule E, Part I, Line 6 Claremont McKenna College participates in the Pell Grant, Supplemental Educational Opportunity Grant, College Work-Study, and Perkins Loan programs. Central America and the Caribbean 0 0 Investments 197344888 Europe 0 0 Investments 63177154 North America 0 0 Investments 533686 Sub-Saharan Africa 0 0 Investments 120319 0 0 0 0 0 0 261176047 0 261176047 1 0 0 1 1 0 1 Financial Aid 703 21137923 Part I, Line 2: The College monitors the use of grant funds by verifying student enrollment records maintained by the Office of the Registrar and the office of Student Accounts. Enrollment verification is performed prior to awarding of grant funds and throughout the academic year. The Office of Financial Aid monitors the College's compliance with grant agreement requirements throughout the academic year, and keeps current of compliance requirements by participating in professional development workshops and reviewing federal compliance updates from the Department of Education and NASFAA. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Hiram Chodosh President 207477 0 0 0 27375 0 23612 0 58218 0 316682 0 0 0 Matthew Bibbens VP, Admin & Plan, Gen; Coun, Sec of 212464 0 0 0 990 0 24549 0 29927 0 267930 0 0 0 Robin Aspinall VP, Business & Administration/Tresur 270700 0 0 0 2298 0 28326 0 18484 0 319808 0 0 0 Ernest Iseminger VP for Development and External Rela 312150 0 25000 0 3757 0 28326 0 14816 0 384049 0 0 0 James Floyd VP and Chief Investment Officer 234500 0 22000 0 1200 0 25566 0 1026 0 284292 0 0 0 Jefferson Huang VP for Stu Aff, Adm, and Fin Aid 221961 0 0 0 1902 0 25063 0 16524 0 265450 0 0 0 John Faranda VP, Alumni and Parent Relations 187372 0 0 0 800 0 20835 0 12742 0 221749 0 0 0 Nicholas Warner Interim VP Acad Affairs & Dean of Fa 171523 0 0 0 2811 0 18590 0 8532 0 201456 0 0 0 Eric Hughson Faculty 315218 0 0 0 840 0 28326 0 14621 0 359005 0 0 0 Janet Smith Faculty 269575 0 0 0 3121 0 28326 0 10742 0 311764 0 0 0 Lisa Meulbroek Faculty 320759 0 0 0 7891 0 28326 0 976 0 357952 0 0 0 Pamela Gann Faculty 455954 0 0 0 55419 0 28326 0 29262 0 568961 0 0 0 Stephen Blomberg Faculty 288068 0 0 0 6849 0 28326 0 36355 0 359598 0 0 0 Gregory Hess Former VP Acad Aff & Dean of Fac 147055 0 0 0 39538 0 20673 0 13680 0 220946 0 0 0 Part I, Line 1a - Travel for Companions - The College pays for expenses for the President's spouse's travel as covered per contract with valid business reason. - Housing allowance or residence for personal use - The College provides housing to the president as a condition of employment. - Health or social club dues - The College pays dues for the California Club for the sole purpose of conducting college business; no personal social activities are allowed. The value of the employer provided housing has been determined to meet the criteria of Sec 119 and is therefore reported as a non-taxable benefit. Because no personal social activities are conducted, the dues are not included in taxable compensation. Part I, Line 4b Pamela Gann participates in a nonqualified deferred compensation plan under section 457(f). A distribution of $32,133.08 was made from the plan during the year. Hiram Chodosh participates in a nonqualified deferred compensation plan under section 457(f). No distributions were made during the year. Part I, Line 7 Ernest Iseminger and James Floyd received a one-time performance-related bonus. A California Educational Facilities Authority 521705592 130178RU2 2009-01-22 80338739 See Part VI 0 0 0 B California Educational Facilities Authority 521705592 130178HT6 2007-05-31 42697442 See Part VI 0 0 0 C California Educational Facilities Authority 521705592 130178C95 2011-07-07 5908645 See Part VI 0 0 0 D California Educational Facilities Authority 521705592 130178T48 2012-11-28 34197474 See Part VI 0 0 0 A 82498201 1005307 75464033 5932608 2012 0 0 1 1 B 1485000 44443284 595011 30007312 12132532 2009 1 1 1 1 C 5908645 116290 5908645 2012 1 0 1 1 D 255000 34240027 1144871 459038 25348353 7964062 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 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 1 Hypo Public Finance 5.100000000000 1 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Date Rebate Computation Performed Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 02/21/2012 Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 05/31/2009 Issuer Name: California Educational Facilities Authority Date the Rebate Computation was Performed: 07/07/2011 Schedule K Supplental Information Part I, column (f) Description of Purpose: Bond (a) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (b) - Finance the cost of acquisition/construction of new educational facilities. Bond (c) - Refund a portion of Authority's Series 1999 bonds & pay certain bond costs. Bond (d) - Finance the cost of acquisition/construction of new educational facilities & refunding of bonds. Bond (e) - Finance the cost of acquisition/construction/improvement of new and existing educational facilities. Part II, line 3, column (D): The difference between part II, line 3 and issue price in part I is due to investment income. Part II, line 3, 2013 bond: The College entered into an agerement to borrow up to $25,000,000 in a non-revolving term loan from First Republic Bank, issued through the California Municipal Finance Authority (CMFA). First Republic Bank will disburse, from time to time, loan proceeds as requested by the College. As of June 30, 2014, the College had borrowed approximately $1,000,000 for the purposes of financing the cost of acquisition and construction of new educational facilities. Schedule K, Part III, line 3a, column C: Euclid Management manages the College's single-family rental home inventory for its rental program to faculty and staff, however, it was determined there is no private business issue due to safe harbor rules. A California Municipal Finance Authority 201563466 2013-12-11 24937500 See Part VI 0 0 0 A 9491 1124591 124591 1000000 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Jefferson Huang VP for Student Affairs, Admission & Financial Aid Housing Assistance X 100000 63179 0 1 1 63179 Mary Spellman Family Member of Julie T. Spellman Sweet, Trustee 132057 Employment 0 Amy Bibbens Family Member of Matthew Bibbens, Officer 75996 Employment 0 Lora Hess Family Member of Gregory Hess, Key Employee 18428 Employment 0 Catherine Huang Family Member of Jefferson Huang, Key Employee 31906 Employment 0 X 31 1155016 FMV X 1 401500 FMV X 2 540000 FMV X Supplies 13 26098 FMV 5 0 1 0 Form 990, Part VI, Section A, line 2 Henry R. Kravis and George R. Roberts are partners of Kohlberg Kravis Robert & Co. Form 990, Part VI, Section B, line 11 The College utilizes a process for review of the IRS Form 990, "Return of Organization Exempt from Income Tax", that involves multiple layers of management as well as governing board members. The College has engaged an outside accounting firm to prepare the 990 using information provided by the College's Treasurer's Office and Claremont University Consortium's Office of Financial Services. Once a draft has been prepared, it is reviewed by individuals in the Office of Financial Services, the Office of Human Resources, and the College's Treasurer's Office, and changes are made as needed. Once a revised draft is available, it is reviewed by the Controller and the Vice President for Business and Administration/Treasurer. After this review and any resulting changes are complete, the revised draft is provided to members of the College's Audit Committee for questions and comments. Once questions and comments from the Audit Committee are fielded and issues resolved, the 990 is provided to all voting members of the Board of Trustees prior to filing. Form 990, Part VI, Section B, line 12c Officers, trustees, and key employees are required to annually sign and submit to the Treasurer a statement disclosing all material financial interests of the individual or immediate family member in any outside entity in which the College has or is considering a transaction or other business relationship. The Treasurer creates a summary report of these and any other known conflict of interest disclosures for review by the Audit Committee. All transactions in which the Audit Committee has determined that a conflict exists are approved or ratified by the Board of Trustees. Form 990, Part VI, Section B, line 15 The College's process for determining compensation of all corporate officers, key employees, and disqualified persons is performed on an annual basis and includes the following elements: 1) use of data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations, 2) review of comparable compensation data and approval of compensation arrangements by a Compensation Subcommittee of the Executive Committee of the Board of Trustees, and 3) contemporaneous documentation with respect to deliberations and decisions regarding compensation arrangements. Data as to comparable compensation is derived from one or more of the following sources: a) Information compiled from IRS Form 990 reports, b) other regional or national compensation surveys, including an annual compensation survey published by the College and University Professional Association for Human Resources, and c) external consultant surveys and/or databases. Form 990, Part VI, Section C, line 19 -Financial statements and conflict of interest policy are available on the College website. -Governing/organizing documents are not available to the public. Form 990, Part XI, line 9: Actuarial adjustment 4,742,241. Staff retirement plan comprehensive loss 293,620. Claremont University Consortium 101 S Mills Ave Claremont CA 91711 954786748 Supporting Organization CA 501(c)(3) 11a, type I N/A 0 Claremont McKenna College Foundation 500 E 9th Street Claremont CA 91711 330735781 Supporting Organization CA 501(c)(3) 11a, type I Claremont McKenna College 1 Milosz Institute & Archives 850 Columbia Ave Adams Hall 208 Claremont CA 91711 270402963 Archive and Research CA 501(c)(3) 11a, type I Claremont McKenna College 1 Children's Education Center of Claremont 500 E 9th Street Claremont CA 91711 954508952 Preschool and Elementary School CA 501(c)(3) Line 2 Claremont McKenna College 1 Pooled Income Fund (1) 101 South Mills Ave Claremont CA 91711 Holdings CA N/A T 0 Pre-69 Trusts (5) 101 South Mills Ave Claremont CA 91711 Holdings CA N/A T 0 Charitable Remainder Unitrust (16) 101 South Mills Ave Claremont CA 91711 Holdings CA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0