2014-05-06T12:22:27-05:00 2013-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2012-07-01 250981156 WESTMINSTER COLLEGE WEST 7249467141 319 S MARKET STREET NEW WILMINGTON PA 16172 KENNETH J ROMIG 7249467141 2014-04-30 1 SUSAN M KIRSCH P00341397 4122613644 2012 2015-11-30 17:44:51Z DR RICHARD DORMAN 319 S MARKET STREET NEW WILMINGTON PA 16172 120548085 0 X WWW.WESTMINSTER.EDU X 1852 PA PROMOTE EDUCATION, THE DEVELOPMENT OF SKILLS, KNOWLEDGE, AND PERSONAL QUALITIES. 31 28 1232 578 1716 657 8929378 9351276 55869940 53149384 2202955 5973246 197916 147945 67200189 68621851 23710798 22704802 0 0 21780030 21964304 0 0 1543499 16822097 17392605 62312925 62061711 4887264 6560140 182755630 193918033 32474459 31483471 150281171 162434562 X THE MISSION OF WESTMINSTER COLLEGE IS TO HELP MEN AND WOMEN DEVELOP COMPETENCIES, COMMITMENTS, AND CHARACTERISTICS WHICH HAVE DISTINGUISHED HUMAN BEINGS AT THEIR BEST. THE LIBERAL ARTS TRADITION IS THE FOUNDATION OF THE CURRICULUM CONTINUALLY DESIGNED TO SERVE THIS MISSION IN A RAPIDLY CHANGING WORLD. THE COLLEGE SEES THE WELL-EDUCATED PERSON AS ONE WHOSE SKILLS ARE COMPLEMENTED BY EVER DEVELOPING VALUES AND IDEALS IDENTIFIED IN THE JUDEO-CHRISTIAN TRADITION. WESTMINSTER'S QUEST FOR EXCELLENCE IS A RECOGNITION THAT STEWARDSHIP OF LIFE MANDATES THE MAXIMUM POSSIBLE DEVELOPMENT OF EACH PERSON'S CAPABILITIES. 0 0 37272414 22704802 31968631 INSTRUCTIONAL - FACULTY AND RELATED EXPENDITURES FOR COURSES OF STUDY. WESTMINSTER COLLEGE OFFERS 40 MAJORS AND SERVES 1,492 UNDERGRADUATE, GRADUATE AND ADULT STUDENTS ANNUALLY, LEADING TO BACHELOR OF ARTS, BACHELOR OF SCIENCE, BACHELOR OF MUSIC AND MASTERS OF EDUCATION DEGREES. 8027496 0 6885201 STUDENT SERVICES - NON-ACADEMIC SUPPORT SERVICES PROVIDED TO THE STUDENT BODY BY THE FOLLOWING DEPARTMENTS: STUDENT AFFAIRS OFFICE, REGISTRAR, DEAN OF CHAPEL, ADMISSIONS AND FINANCIAL AID, THE CAREER CENTER, ATHLETICS, HEALTH CENTER, COUNSELING CENTER, MULTI-CULTURAL AFFAIRS, THEATRE PRODUCTIONS AND RADIO AND TV PRODUCTION. 4933293 0 4231296 ACADEMIC SUPPORT - SUPPORT FOR INSTRUCTION AND RESEARCH BY THE FOLLOWING DEPARTMENTS: DEAN OF THE COLLEGE, AUDIO VISUAL SERVICES, INFORMATION SYSTEMS, FACULTY DEVELOPMENT, ART GALLERY, LIBRARIES, HONORS PROGRAM, CHEMICAL HYGIENE, CULTURAL ARTIFACTS AND THE LEARNING CENTER. 7204233 0 10064256 EDUCATIONAL AND AUXILIARY ENTERPRISE - PROVIDE ROOM AND BOARD FOR RESIDENT STUDENTS, TELEPHONE SYSTEM, BOOKSTORE, SUMMER CAMPS AND ACTIVITIES AND TEMPORARY FACULTY HOUSING. 7204233 10064256 57437436 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 1893 0 1 1232 1 1 1 0 0 0 0 0 0 0 0 0 X 31 28 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH PA X KENNETH J ROMIG 7249467141 319 S MARKET STREET NEW WILMINGTON PA 16172 PETER M ANDINO 1.50 0.00 X 0 0 0 GEORGE R BERLIN 1.50 0.00 X 0 0 0 WHITNEY F BOHAN 1.50 0.00 X 0 0 0 GARY D BROWN 1.50 0.00 X 0 0 0 ROBERT W BUEHNER JR 1.50 0.00 X 1520 0 0 JAMES C DEWAR 1.50 0.00 X 0 0 0 DAVID M FARNER 1.50 0.00 X 0 0 0 DEBORA S FOSTER 1.50 0.00 X 0 0 0 ROBIN W GOOCH 1.50 0.00 X 0 0 0 BARBARA B GUFFEY 1.50 0.00 X 0 0 0 STEPHEN G HARTLE 1.50 0.00 X 0 0 0 WILLIAM M HAZEN 1.50 0.00 X 0 0 0 PETER Y HERCHENROETHER 1.50 0.00 X 0 0 0 RONALD E HUSTWIT 1.50 0.00 X 0 0 0 ROBERT C JACKSON 1.50 0.00 X 0 0 0 WILLIAM N JACKSON 1.50 0.00 X 0 0 0 ROBERT C JAZWINSKI 1.50 0.00 X 0 0 0 LINDA C JENKINS 1.50 0.00 X 0 0 0 CAROLYN J JONES 1.50 0.00 X 0 0 0 THOMAS S MANSELL 1.50 0.00 X 0 0 0 W KEITH MCCAULEY 1.50 0.00 X 0 0 0 STEPHEN D MCCONNELL 1.50 0.00 X 0 0 0 WAYNE A MILLER 1.50 0.00 X 0 0 0 RICHARD L NYGAARD 1.50 0.00 X 0 0 0 WILLIAM W RANKIN 1.50 0.00 X 0 0 0 LINDA W SIMPSON 1.50 0.00 X 0 0 0 GLENN H THOMPSON 1.50 0.00 X 0 0 0 JULIE A WEAGRAFF 1.50 0.00 X 0 0 0 VALERIE DAY WILDEN 1.50 0.00 X 0 0 0 THOMAS A TUPITZA 3.50 0.00 X X 0 0 0 DEBORAH P MAJORAS 2.00 0.00 X X 0 0 0 RICHARD H DORMAN 40.00 0.00 X X 269765 0 87651 KENNETH J ROMIG 40.00 0.00 X 148083 0 30114 JOEANN MILLER 40.00 0.00 X 41323 0 16428 GLORIA C CAGIGAS EXIT 213 40.00 0.00 X 131356 0 23111 JESSE T MANN 40.00 0.00 X 143531 0 29495 BRADLEY P TOKAR 40.00 0.00 X 102030 0 22494 NEAL EDMAN 40.00 0.00 X 104740 0 23732 GAIL L MILLER 40.00 0.00 X 104891 0 15158 1047239 0 248183 7 0 1 0 SODEXO INC & AFFILIATES PO BOX 905374 CHARLOTTE NC 28290 ENGINEERING AND FOOD SERVICES 3555462 BRIDGES & COMPANY INC 209 PINE CREEK ROAD WEXFORD PA 15090 CONSTRUCTION SERVICES 2135011 EBSCO PO BOX 830625 BIRMINGHAM AL 35283 ELECTRONIC SERVICES 649878 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 PROFESSIONAL FEES 257355 DOBIL LABORATORIES INC 727 BUTLER STREET PITTSBURGH PA 15223 AUDIO AND VISUAL INSTALLATION 250685 15 659710 8691566 870047 9351276 INSTRUCTIONAL 611710 31968631 31968631 EDUCATIONAL/AUXILIARY 611710 10064256 10064256 STUDENT SERVICES 900099 6885201 6885201 ACADEMIC SUPPORT 900099 4231296 4231296 53149384 4089171 1716 4087455 153221 134877 18344 18344 18344 53171899 51279928 7896 1891971 -7896 1884075 1884075 633134 503533 129601 129601 68621851 53149384 1716 6119475 22626636 22626636 78166 78166 527855 325566 57897 144392 16460295 15108287 654069 697939 876749 764393 60688 51668 2877873 2516501 196308 165064 1221532 1070846 81392 69294 29617 29617 105856 105856 138514 138514 1425976 1290530 125548 9898 167760 160872 4545 2343 3494376 2885931 411513 196932 268283 252418 5741 10124 2194791 1942311 231808 20672 1196568 1011758 121566 63244 34164 28887 3471 1806 759793 759793 2668225 2535404 123066 9755 359174 131051 228123 FOOD SERVICE 3264783 3181741 24139 58903 PLANT FACILITIES 810550 374607 435943 OTHER 474175 391738 40972 41465 62061711 57437436 3080776 1543499 771235 477469 11893992 12240321 1884279 977851 1741676 1502810 462437 484969 698499 949128 101788867 26764772 76851148 75024095 39693371 75681999 48632195 26314177 126798 265214 182755630 193918033 1321873 1446156 2837471 2542338 18385000 17895000 9930115 9599977 32474459 31483471 X 67295723 71369892 34184078 35423380 48801370 55641290 150281171 162434562 182755630 193918033 X 6560140 5390478 202773 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 165 0 0 165 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: EXPENSE ASSOCIATED WITH A MEETING WITH AN ELECTED GOVERNMENT OFFICIAL. X X X X 0 87913462 6485381 10931902 1647882 2075760 101607103 90910277 4944109 -4397082 1473300 2070542 87913462 78557979 1160761 14976165 1547958 2236670 90910277 72362333 986409 9241879 1634064 2398578 78557979 94297415 523757 -18618513 1614590 2225736 72362333 0.12920 0.54500 0.32580 1 0 302700 302700 83808157 17398216 66409941 11069628 6930548 4139080 6608382 2436008 4172374 75024095 COMMINGLED FUNDS 17390636 F FIXED INCOME 8923541 F 26314177 DEPOSITS HELD IN CUSTODY FOR OTHERS 363337 ANNUITIES PAYABLE 367843 POSTRETIREMENT BENEFIT OBLIGATIONS 6626284 GOVERNMENT STUDENT LOAN FUNDS 2242513 9599977 X 52007872 5390478 841183 6231661 45776211 138514 22707126 22845640 68621851 39854481 646306 646306 39208175 138514 22715022 22853536 62061711 PART III, LINE 1A: THE COLLEGE OWNS A NUMBER OF PIECES OF ART AND HISTORIC TREASURES, NONE OF WHICH IS RECORDED IN THE FINANCIAL STATEMENTS. THESE ITEMS WERE GIVEN TO THE COLLEGE OVER A NUMBER OF YEARS, ARE GENERALLY DISPLAYED IN VARIOUS LOCATIONS AROUND CAMPUS AND ARE INSURED. PART III, LINE 4: THE COLLEGE'S COLLECTION OF ARTIFACTS OF CULTURAL AND EDUCATIONAL SIGNIFICANCE RANGE FROM STONE TOOLS (6,000 B.C.) THROUGH CUNEIFORM TABLETS (2,000 B.C.), AN EGYPTIAN MUMMY (300 B.C.), COPTIC ITEMS (5TH CENTURY A.D.), JAPANESE SAMURAI ARMOR (18TH CENTURY A.D.) TO CURRENCY BEARING THE PORTRAIT OF SADDAM HUSSEIN (2003 A.D.). THE COLLECTION PROVIDES A CONNECTION TO THE PAST FOR STUDENTS OF HISTORY AND CULTURE, BOTH ON CAMPUS AND IN THE SURROUNDING COMMUNITY. IN ADDITION, SOME ITEMS IN THE COLLECTION HAVE BEEN LOANED TO MUSEUMS AND HISTORICAL SOCIETIES EXPANDING THEIR EDUCATIONAL REACH. SOME OF THE COLLECTION IS HIGHLIGHTED ONLINE ALONG WITH RESEARCH MATERIALS (CT SCANS, DESCRIPTIONS, EDUCATIONAL MATERIALS). A FORENSIC SCULPTOR RECONSTRUCTED A BUST OF THE 2,000+ YEAR-OLD MUMMY ALLOWING STUDENTS OF HISTORY TO SEE THE VISAGE OF A WOMAN WHO LIVED IN ANCIENT EGYPT. ALL OF THE ARTIFACTS ENCOURAGE RESEARCH AND STUDY BY BRINGING HISTORY TO LIFE AS STUDENTS SEE FIRSTHAND THE ITEMS ABOUT WHICH THEY READ IN CLASS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED FOR SUPPORT OF THE COLLEGE'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS, AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF TRUSTEES HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141). ACT 141 IS A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT ENTITY TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S PERMANENTLY RESTRICTED INVESTMENTS AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS A SPENDING RATE. ON AN ANNUAL BASIS, THE BOARD OF TRUSTEES MUST ELECT, IN WRITING, A SPENDING RATE OF BETWEEN 2% AND 7%. FOR THE YEAR ENDED JUNE 30, 2013, THE COLLEGE UTILIZED A 5% SPENDING RATE, BASED ON A THREE-YEAR MOVING AVERAGE OF HISTORICAL END-OF-QUARTER ENDOWMENT MARKET VALUES. THE LAST QUARTER USED TO DETERMINE THE TRANSFER FOR THE FISCAL YEAR ENDED JUNE 30, 2013 WAS THE QUARTER ENDED DECEMBER 31, 2011. THE COLLEGE CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS THE ORIGINAL VALUE OF GIFTS DONATED TO THE ENDOWMENT AND THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE ENDOWMENT. THE UNDISTRIBUTED AMOUNTS EARNED ARE INCLUDED IN UNRESTRICTED NET ASSETS. IN ACCORDANCE WITH ACT 141, THE COLLEGE HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT. THE COLLEGE CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND 2. PRESERVING THE SPENDING POWER OF THE ASSETS 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION 4. COMPLYING WITH APPLICABLE LAWS DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) OF 1986. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE COLLEGE ACCOUNTS FOR INCOME TAXES UNDER THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC). THIS TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR FINANCIAL STATEMENTS DISCLOSURE OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE COLLEGE HAS ASSESSED THE TAX POSITIONS IT HAS TAKEN OR EXPECTS TO TAKE IN ITS TAX RETURNS AND NO LIABILITY HAS BEEN RECORDED FOR UNCERTAIN TAX POSITIONS; FURTHER, THE COLLEGE HAS NO UNRECOGNIZED TAX BENEFITS. THE COLLEGE IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 503,533. RENTAL EXPENSES 134,877. CHANGES IN UNRECOGNIZED PENSION BENEFIT PLAN COSTS 202,773. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 22,704,802. LOSS ON ASSET DISPOSAL -7,896. BANK SERVICE FEES RECLASS 10,220. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 503,533. LOSS ON ASSET DISPOSAL 7,896. RENTAL EXPENSES 134,877. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 22,704,802. BANK SERVICE FEES RECLASS 10,220. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE WESTMINSTER COLLEGE NONDISCRIMINATION POLICY IS INCLUDED ON THE COLLEGE WEBSITE, IN OFFICIAL PUBLICATIONS, IN EMPLOYEE ADVERTISING, AND IN STUDENT RECRUITMENT MATERIALS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 IN THE COURSE OF OUR BUSINESS AS A COLLEGE, THE INSTITUTION RECEIVES FEDERAL GRANTS AND PARTICIPATES IN THE FOLLOWING GOVERNMENTAL AGENCY FINANCIAL AID OR ASSISTANCE PROGRAMS: FEDERAL PELL GRANT PROGRAM; FEDERAL PERKINS LOAN PROGRAM; FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT; FEDERAL WORK STUDY GRANT; FEDERAL DISTRICT LOAN PROGRAM; PENNSYLVANIA INSTITUTIONAL ASSISTANCE GRANT; PENNSYLVANIA NEW ECONOMY TECHNOLOGY SCHOLARSHIP (NETS); PENNSYLVANIA PARTNERSHIP FOR ACCESS TO HIGHER EDUCATION (PATH); PENNSYLVANIA; FEDERAL TEACH GRANT PROGRAM; PA STATE GRANT PROGRAM; OHIO COLLEGE OPPORTUNITY GRANT PROGRAM; WEST VIRGINIA HIGHER EDUCATION GRANT PROGRAM; MASSACHUSETTS MASS GRANT PROGRAM; PA MATCHING FUNDS PROGRAM; THE CHAFEE PROGRAM (ADMINISTERED THROUGH PHEAA); PENNSYLVANIA NATIONAL GUARD EDUCATIONAL ASSISTANCE PROGRAM (ADMINISTERED THROUGH PHEAA); AND FEDERAL VA BENEFIT PROGRAMS. 1 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES FACULTY/STAFF TRAVELING OUTSIDE OF THE U.S. 8170 SOUTH AMERICA 0 0 PROGRAM SERVICES FACULTY/STAFF TRAVELING OUTSIDE OF THE U.S. 6962 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES FACULTY AND STAFF TRAVELING OUTSIDE OF THE U.S. INCLUDING COLLABORATIVE FACULTY/STUDENT RESEARCH 13689 RUSSIA AND THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES FACULTY/STAFF TRAVELING OUTSIDE OF THE U.S. 1500 NORTH AMERICA 0 0 PROGRAM SERVICES FACULTY/STAFF TRAVELING OUTSIDE OF THE U.S. 7603 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 STUDY ABROAD PROGRAM GREECE TRAVEL COURSE 76019 RUSSIA AND THE NEWLY INDEPENDENT STATES 0 0 STUDY ABROAD PROGRAM RUSSIA TRAVEL COURSE 35454 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 EDUCATIONAL GRANTS STUDENT AID FOR FALL 2012 AND SPRING 2013 STUDY ABROAD PROGRAM PARTICIPANTS 47978 SUB-SAHARAN AFRICA 0 0 EDUCATIONAL GRANTS STUDENT AID FOR FALL 2012 AND SPRING 2013 STUDY ABROAD PROGRAM PARTICIPANTS 9138 MIDDLE EAST AND NORTH AFRICA 0 0 EDUCATIONAL GRANTS STUDENT AID FOR FALL 2012 AND SPRING 2013 STUDY ABROAD PROGRAM PARTICIPANTS 7125 CENTRAL AMERICA AND THE CARIBBEAN 0 0 EDUCATIONAL GRANTS STUDENT AID FOR FALL 2012 AND SPRING 2013 STUDY ABROAD PROGRAM PARTICIPANTS 5350 SOUTH AMERICA 0 0 EDUCATIONAL GRANTS STUDENT AID FOR FALL 2012 AND SPRING 2013 STUDY ABROAD PROGRAM PARTICIPANTS 8575 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 18099825 0 0 0 0 0 0 197375 18130013 18327388 STUDY ABROAD GRANTS AND SCHOLARSHIPS SOUTH AMERICA 3 8575 CREDIT TO STUDENTS' ACCOUNT FOR FINANCIAL AID 0 N/A FMV STUDY ABROAD GRANTS AND SCHOLARSHIPS EUROPE (INCLUDING ICELAND AND GREENLAND) 13 47978 CREDIT TO STUDENTS' ACCOUNT FOR FINANCIAL AID 0 N/A FMV STUDY ABROAD GRANTS AND SCHOLARSHIPS SUB-SAHARAN AFRICA 1 9138 CREDIT TO STUDENTS' ACCOUNT FOR FINANCIAL AID 0 N/A FMV STUDY ABROAD GRANTS AND SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 1 7125 CREDIT TO STUDENTS' ACCOUNT FOR FINANCIAL AID 0 N/A FMV STUDY ABROAD GRANTS AND SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 1 5350 CREDIT TO STUDENTS' ACCOUNT FOR FINANCIAL AID 0 N/A FMV 1 0 1 1 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: A LIST OF FINANCIAL AID AND SCHOLARSHIP RECIPIENTS IS ON FILE AT THE INSTITUTION AND IS AVAILABLE UPON REQUEST. FINANCIAL AID AND SCHOLARSHIP RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINED BASIS. ALL STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, OR OTHER SIMILAR STANDARDS. CRITERIA FOR ALL SCHOLARSHIPS IS PUBLISHED AND MADE AVAILABLE TO ALL STUDENTS AND THEIR FAMILIES. 1 ACADEMIC AND FINANCIAL ASSISTANCE/SCHOLARSHIPS 1422 22626636 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: A LIST OF FINANCIAL AID AND SCHOLARSHIP RECIPIENTS IS ON FILE AT THE INSTITUTION AND IS AVAILABLE UPON REQUEST. FINANCIAL AID AND SCHOLARSHIP RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINED BASIS. ALL STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, OR OTHER SIMILAR STANDARDS. CRITERIA FOR ALL SCHOLARSHIPS IS PUBLISHED AND MADE AVAILABLE TO ALL STUDENTS AND THEIR FAMILIES. X X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 RICHARD H DORMAN 248570 0 0 0 21195 0 51102 0 36549 0 357416 0 0 0 KENNETH J ROMIG 147993 0 0 0 90 0 11696 0 18418 0 178197 0 0 0 GLORIA C CAGIGAS EXIT 213 130594 0 0 0 762 0 10071 0 13040 0 154467 0 0 0 JESSE T MANN 143273 0 0 0 258 0 11015 0 18480 0 173026 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: FOR THE CONVENIENCE OF THE COLLEGE, THE PRESIDENT OCCUPIES THE RESIDENCE PROVIDED (MACK MANSE) BY THE COLLEGE IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. PERSONAL SERVICES (E.G., CLEANING SERVICES): THE COLLEGE MANSE IS THE PROPERTY OF WESTMINSTER, THEREFORE IT IS MAINTAINED BY WESTMINSTER'S PHYSICAL PLANT DEPARTMENT. CLUB MEMBERSHIPS: IN ORDER THAT THE PRESIDENT MAY ENTERTAIN POTENTIAL DONORS AND OTHER BUSINESS ASSOCIATES OF THE COLLEGE, THE COLLEGE PAYS OR REIMBURSES THE PRESIDENT FOR, THE PERIODIC DUES FOR MEMBERSHIP IN THE DUQUESNE CLUB AND THE NEW CASTLE COUNTRY CLUB. DIRECT EXPENSES FOR UTILIZATION OF THE CLUBS IS THE PRESIDENT'S RESPONSIBILITY, EXCEPT WHEN ATTRIBUTABLE TO COLLEGE BUSINESS. PART I, LINE 4B RICHARD H. DORMAN $32,000 SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART II: WESTMINSTER COLLEGE ACCOUNTED FOR THE PERSONAL USE OF VEHICLE ON BEHALF OF RICHARD H. DORMAN ON HIS 2012 FORM W-2. THE AMOUNT OF THE PERSONAL USE OF THE VEHICLE WAS $1,615 FOR THE 2012 CALENDAR YEAR. A NEW WILMINGTON MUNICIPAL AUTHORITY-SERIES 2007 251739535 64920RAS2 2007-06-27 17102753 SEE PART V 0 0 0 B NEW WILMINGTON MUNICIPAL AUTHORITY-SERIES 2011 251739535 2011-04-28 3000000 SEE PART V 0 0 0 A 17102753 1301944 12302716 207525 281203 3009365 2009 1 1 1 1 B 3000000 41000 2959000 2011 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 0 B 0 SCHEDULE K PART IV, ARBITRAGE, LINE 2C DATE REBATE COMPUTATION PERFORMED ISSUER NAME: NEW WILMINGTON MUNICIPAL AUTHORITY-SERIES 2007 DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2013 SCHEDULE K SUPPLENTAL INFORMATION (A) PURPOSE: TO REPAY THE 1998 COLLEGE REVENUE BONDS AND OUTSTANDING NOTES PAYABLE, FUND A DEBT SERVICE RESERVE, PAY THE COSTS OF ISSUANCE AND FINANCE CERTAIN CAPITAL PROJECTS (B) PURPOSE: TO FUND THE CONSTRUCTION OF STUDENT HOUSING. ENROLLED STUDENT FAMILY OF BOARD MEMBER 19000 SCHOLARSHIP EDUCATIONAL X 18 868801 FAIR MARKET VALUE X ARTIFACTS 6 0 N/A X EVENT TICKETS 8 1247 FMV 0 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: THE COLLEGE OWNS A NUMBER OF PIECES OF ART AND HISTORIC TREASURES, NONE OF WHICH ARE RECORDED IN THE FINANCIAL STATEMENTS. THESE ITEMS HAVE BEEN GIVEN TO THE COLLEGE OVER A NUMBER OF YEARS, ARE GENERALLY DISPLAYED IN VARIOUS LOCATIONS AROUND CAMPUS AND ARE INSURED. THE VALUE OF NON-CASH CONTRIBUTIONS IS NOT DETERMINED BY THE COLLEGE AND NO GIFT CREDIT IS ISSUED TO THE DONOR. IN ORDER TO RECEIVE GIFT CREDIT, A DONOR MUST HAVE THE ITEM APPRAISED BY AN INDEPENDENT OUTSIDE APPRAISER. THIS PROCESS DOES NOT APPLY TO THE RECEIPT OF A STOCK GIFT. WHEN WESTMINSTER COLLEGE RECEIVES A STOCK GIFT, THE GIFT IS VALUED AT THE AVERAGE OF THE STOCK'S HIGH AND LOW TRADING PRICE, AS INDICATED IN THE WALL STREET JOURNAL, ON THE DATE OF TRANSFER TO THE COLLEGE. THIS METHOD PROVIDES AN OBJECTIVE DETERMINATION OF THE VALUE OF THE GIFT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE INVESTED WITH ALL THE POWERS OF AUTHORITY OF THE BOARD OF TRUSTEES WHEN THE BOARD IS NOT IN SESSION EXCEPT AS MAY OTHERWISE BE PROVIDED IN THESE BYLAWS, PROVIDED THAT THE EXECUTIVE COMMITTEE SHALL HAVE NO AUTHORITY TO RESCIND OR CANCEL ANY RESOLUTION THERETOFORE ADOPTED BY THE BOARD OF TRUSTEES RELATING TO THE MEMBERSHIP, POWERS OR DUTIES OF THE EXECUTIVE COMMITTEE OR TO AMEND THE ARTICLES OF INCORPORATION. THE EXECUTIVE COMMITTEE DID NOT EXERCISE THIS AUTHORITY DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION A, LINE 4 DURING THE FISCAL YEAR JUNE 30, 2013 WESTMINSTER COLLEGE AMENDED ITS BYLAWS. THE BYLAWS WERE AMENDED TO REFLECT THE FOLLOWING CHANGES: - THE PRESIDENT OF THE COLLEGE'S ALUMNI COUNCIL SHALL SERVE EX-OFFICIO AS AN ASSOCIATE TRUSTEE - THE AUDIT AND COMPLIANCE COMMITTEE WAS COMBINED WITH THE FINANCE COMMITTEE AND IS NOW TITLED FINANCE, AUDIT AND COMPLIANCE COMMITTEE - THE FOLLOWING COMMITTEES WERE ABSORBED INTO EXISTING COMMITTEES: CHURCH RELATIONS AND SPIRITUAL LIFE, DIVERSITY, LONG RANGE PLANNING, AND PROPERTY. - STUDENT AFFAIRS COMMITTEE WAS CHANGED TO STUDENT EXPERIENCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 THE WESTMINSTER FINANCIAL MANAGEMENT TEAM REVIEWS THE FORM 990 AND SEEKS INPUT REGARDING THE SAME FROM THE PRESIDENT. THE COLLEGE'S TRUSTEES ARE PROVIDED WITH ACCESS TO A SECURE WEBSITE WHERE THEY ARE ABLE TO REVIEW A DRAFT OF THE COLLEGE'S TAX RETURN FOR THE YEAR ENDED JUNE 30, 2013. THE COLLEGE'S TRUSTEES ARE INVITED TO PARTICIPATE IN A TELECONFERENCE WITH MEMBERS OF THE COLLEGE'S ADMINISTRATION WHO ARE RESPONSIBLE FOR PREPARING THE COLLEGE'S TAX RETURN. DURING THE TELECONFERENCE, THE COLLEGE'S FINANCIAL ADMINISTRATORS REVIEW THE DRAFT OF THE TAX RETURN. WEBSITE ACCESS TO A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE TRUSTEES PRIOR TO THE FILING OF THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS A FORMAL CONFLICT OF INTEREST POLICY. EVERY TRUSTEE AND OFFICER ALONG WITH EMPLOYEES WHO MEET THE CRITERIA AS DEFINED: EMPLOYEE: AN EMPLOYEE OF THE COLLEGE WHO HAS AUTHORITY TO EXPEND COLLEGE FUNDS OR TO INCUR CONTRACTUAL LIABILITY ON BEHALF OF THE COLLEGE ARE REQUIRED TO ANNUALLY (1) REVIEW THE COLLEGE'S CONFLICT OF INTEREST POLICY, (2) DISCLOSE TO THE BEST OF HIS/HER KNOWLEDGE ANY BUSINESS, PERSONAL, FAMILY AND NOT-FOR-PROFIT RELATIONSHIPS THAT COULD REASONABLY GIVE RISE TO A CONFLICT OF INTEREST, (3) SUMMARIZE IN WRITING ANY POTENTIAL CONFLICT OF INTEREST AS MAY ALREADY EXIST, AND (4) ACKNOWLEDGE BY SIGNATURE ON A DISCLOSURE FORM THAT HE OR SHE ACTED IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THE POLICY. THE EMPLOYEE DISCLOSURE FORMS ARE SUBMITTED TO THE COLLEGE'S DIRECTOR OF HUMAN RESOURCES AND THE DISCLOSURE FORMS FOR TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE SUBMITTED TO THE CHAIR OF THE COLLEGE'S FINANCE, AUDIT AND COMPLIANCE COMMITTEE. THE CHAIR OF THE BOARD OF TRUSTEES AND THE CHAIR OF THE FINANCE, AUDIT AND COMPLIANCE COMMITTEE ARE RESPONSIBLE FOR DETERMINING WHETHER OR NOT CERTAIN RELATIONSHIPS GIVE RISE TO CONFLICTS OF INTEREST. THE CHAIR OF THE FINANCE, AUDIT AND COMPLIANCE COMMITTEE DELIVERS A CONFLICT OF INTEREST REPORT TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT OF THE COLLEGE WAS DETERMINED BY A SPECIALLY APPOINTED COMMITTEE OF THE BOARD OF TRUSTEES WHO WAS EMPOWERED BY THE BOARD OF TRUSTEES TO NEGOTIATE AN EMPLOYMENT CONTRACT WITH THE PRESIDENT. THE MEMBERS OF THE SPECIAL COMPENSATION COMMITTEE WERE INDEPENDENT, NONE WERE COMPENSATED BY THE COLLEGE, NOR DOES A COMPENSATION ARRANGEMENT EXIST BETWEEN THE COLLEGE FAMILY MEMBERS OF THE COMPENSATION COMMITTEE OR ANY BUSINESS IN WHICH ANY OF THEIR FAMILY MEMBERS HAVE AN INTEREST. WHEN THE PRESIDENT'S EMPLOYMENT AGREEMENT WITH WESTMINSTER COLLEGE WAS RENEWED ON NOVEMBER 1, 2010, THE COMMITTEE REVIEWED THE COMPENSATION PAID TO THE PRESIDENTS OF THE 30 COLLEGES TO WHICH WESTMINSTER REGULARLY COMPARES ITSELF WITH RESPECT TO TUITION AND FEES, ENDOWMENT RETURNS AND OTHER METRICS. BASED ON THIS DATA, THE COMMITTEE WAS SATISFIED THAT THE COMPENSATION OFFERED TO DR. DORMAN REFLECTED THE FAIR MARKET VALUE FOR THE SERVICES TO BE RENDERED TO THE COLLEGE. THE AGREEMENT EXECUTED BETWEEN WESTMINSTER COLLEGE AND DR. DORMAN EXTENDED THE EMPLOYMENT OF DR. DORMAN TO SERVE THE COLLEGE PURSUANT TO TERMS AND CONDITIONS OF THE AGREEMENT AS PRESIDENT OF THE COLLEGE UNTIL JUNE 30, 2016. THE PRESIDENT'S BASE SALARY SHALL BE SUBJECT TO ANNUAL REVIEWS BY THE GOVERNANCE COMMITTEE OR ITS DESIGNEE, AND MAY BE INCREASED WITH THE APPROVAL OF THE EXECUTIVE COMMITTEE. FOR KEY EMPLOYEES: THE COLLEGE DETERMINES THE COMPENSATION FOR ITS KEY EMPLOYEES BASED ON THE COMPENSATION REPORTED ON FORM 990 FOR THE COLLEGE'S PEER INSTITUTIONS. THE COLLEGE HAS IDENTIFIED 30 PEER INSTITUTIONS THAT HAVE CHARACTERISTICS SUCH AS ENROLLMENT, ENDOWMENT, STUDENT BODY, ETC. THAT ARE SIMILAR TO THE COLLEGE'S CHARACTERISTICS. IN ADDITION, THE COLLEGE ALSO USES A COMPENSATION SURVEY OF HIGHER EDUCATION INSTITUTIONS WHICH PROVIDES A BROADER BASIS TO HELP ASSESS THE REASONABLENESS OF THE COMPENSATION OF THE COLLEGE'S KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. IN ADDITION, THE COLLEGE'S FINANCIAL STATEMENTS MAY BE VIEWED ON THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE AT HTTP://EMMA.MSRB.ORG/. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGES IN UNRECOGNIZED PENSION BENEFIT PLAN COSTS 202,773. FORM 990, PART XII, QUESTION 2, FINANCIAL STATEMENTS AND REPORTING: THE COLLEGE'S FINANCE, AUDIT AND COMPLIANCE COMMITTEE ASSUMES THE RESPONSIBLITY FOR OVERSIGHT OF THE AUDIT AND OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT AUDITORS. INTERESTS IN TRUSTS (8) PHILANTHROPY PA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0