2014-01-31T14:49:15-07:00 2013-05-31 990 2012-06-01 042111203 CLARK UNIVERSITY CLAR 5087937499 950 Main Street Worcester MA 01610 Julie Dolan 5087937455 2014-01-31 2012 2015-11-30 17:44:51Z David P Angel 950 Main Street Worcester MA 01610 188633649 0 X www.clarku.edu X 1887 MA Clark University's mission is to educate undergraduate and graduate students to be imaginative and contributing citizens of the world, and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. 29 29 2506 1200 110050 0 15210416 15071513 120522222 130319142 14416323 16774383 202954 342128 150351915 162507166 48933230 52972990 0 0 59033954 61429946 63597 43429 5242406 38804596 34337536 146835377 148783901 3516538 13723265 499989821 551123297 121246459 115032148 378743362 436091149 X Clark University's mission is to educate undergraduate and graduate students to be imaginative and contributing citizens of the world, and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. Clark fosters a commitment to excellence in studying traditional academic disciplines, as well as innovation in exploring questions that cross disciplinary boundaries. (Continued on Schedule O) 0 0 57511543 0 112157922 Instruction and academic support, with program expenditures of $57,511,543. Clark's fall 2012 enrollment consisted of 2,352 undergraduates and 1,151 graduate students. Our motto - and mission - is "Challenge Convention; Change Our World", and our faculty members work to inspire their students to utilize their liberal arts based education to make a real difference in the communities in which they live and work. We also have strong graduate programs, which include masters' level degrees and eight PhD programs. 7562083 526142 6175030 Research, with program expenditures of $7,562,083 and revenues from grants and contracts of $6,175,030. Clark is committed to a program of research and has a very professionally active faculty, virtually all of whom are engaged in sponsored or unsponsored research and creative activity. 52446848 52446848 0 Financial Aid, with expenditures/income offsets of $52,446,848. Clark is committed to being affordable to those students able to meet the high academic expectations of our faculty. Over 86% of all students receive some level of financial assistance, which is distributed on the basis of both merit and financial need. 12457492 0 14250535 Auxiliary Services includes providing high quality residence halls, food service, and book store services to Clark students. There are program expenditures of $12,457,492 and offsetting revenue of $14,250,535 10506146 0 894093 Student Services program supports an environment for students that encourages them to become active, involved and responsible citizens in global communities. Resources are expended to provide students support in achieving their non-academic goals and providing a balanced and healthy social environment. 22963638 0 15144628 140484112 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 1 1 1 0 0 0 1 1 1 1 0 1 0 0 0 0 1 0 1 1 1 0 0 0 0 1 0 0 0 1 6646 0 1 2506 1 1 1 1 LU 0 0 0 0 0 0 0 0 X 29 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X Julie L Dolan 5087937455 950 Main Street Worcester MA 01610 Jennifer Abrams 2 0 X 0 0 0 Dimitry Anselme 2 0 X 0 0 0 Jay Ash 2 0 X 0 0 0 Marla Byrnes 2 0 X 0 0 0 David Chaifetz 2 0 X 0 0 0 Elyse Darefsky 2 0 X 0 0 0 Gregory Degermajian 2 0 X 0 0 0 Dennis Dimitri 2 0 X 0 0 0 George DiRado 2 0 X 0 0 0 Catherine Dunham 2 0 X 0 0 0 Barbara Dyer 2 0 X 0 0 0 Eric Epstein 2 0 X 0 0 0 Mark Fishman 2 0 X 0 0 0 Richard Freeland 2 0 X 0 0 0 Ross Gillman 2 0 X 0 0 0 Wolfgang Hammes 2 0 X 0 0 0 Lawrence Hershoff 2 0 X 0 0 0 John Jeppson 2 0 X 0 0 0 Peter Klein 15 0 X 0 0 0 Lawrence Landry 2 0 X 0 0 0 Lowell Potiker 2 0 X 0 0 0 Jodi Reiskind 2 0 X 0 0 0 Steven Roberts 2 0 X 0 0 0 Linda Savitsky 2 0 X 0 0 0 Jeffrey Siegal 2 0 X 0 0 0 Robert Stevenish 2 0 X 0 0 0 Robert Stevenish II 2 0 X 0 0 0 David Strassler 2 0 X 0 0 0 Theresa Strempek 2 0 X 0 0 0 Steven Swain 2 0 X 0 0 0 Sumner Tilton 2 0 X 0 0 0 Ronald Walter 2 0 X 0 0 0 David Angel 40 0 X 301104 0 67357 Katherine Cannon 40 0 X 115833 0 21667 James Collins 30 0 X 185166 0 44955 John Foley 40 0 X 140957 0 36508 Davis Baird 40 0 X 220965 0 21897 Nancy Budwig 40 0 X 157938 0 26269 Paula David 40 0 X 221379 0 31708 William Fisher 40 0 X 173179 0 17991 Donald Honeman 40 0 X 166535 0 17394 Andrew McGadney 40 0 X 243132 0 27261 Andrea Michaels 40 0 X 166865 0 35047 Pennie Turgeon 40 0 X 165686 0 36594 Deborah Dwork 40 0 X 154546 0 27429 Ronald Eastman 40 0 X 157617 0 38908 James Gomes 40 0 X 156326 0 94828 Robert Johnston 40 0 X 171170 0 34515 Joseph Sarkis 40 0 X 157249 0 22599 3055647 0 602927 68 0 1 0 Sodexo Inc Affiliates 9801 Washington Blvd Gaithersburg MD 20878 Food service management 5357380 Consigli Construction Co Inc 72 Summer Street Milford MA 01757 Construction Management 6877557 CIEE-Council International Study Programs Inc 300 Fore Street Portland ME 04101 International Program Management 965282 Baupost Group LLC 10 St James Ave Suite 1700 Boston MA 02116 Investment Management 538802 UMASS Memorial Med Community Practices 108 Belmont Street Worcester MA 01610 Health Service Provider 339760 24 0 0 0 0 4706215 10365298 500694 15071513 Tuition and fees 611310 113052015 113052015 0 0 Geographic Software 443120 671537 671537 0 0 Auxiliary 611710 13827409 13827409 0 0 Student Loan 522291 190002 190002 0 0 All Other 900099 2578179 2578179 0 0 0 0 0 0 130319142 4903645 0 0 4903645 170 0 0 170 168321 168321 0 0 423126 0 249319 0 173807 0 173807 0 0 173807 22881072 14866660 16464360 9412804 6416712 5453856 11870568 0 110050 11760518 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 162507166 130487463 110050 16838140 376988 376988 52410827 52410827 185175 185175 0 0 2698301 839925 1582805 275571 0 0 0 0 46744761 37821230 6850276 2073255 3352698 2710171 494305 148222 5420430 4346393 840998 233039 3213756 2597857 473820 142079 726362 525771 193786 6805 45418 34124 10864 430 131108 0 131108 0 18000 0 18000 0 43429 43429 0 0 0 0 1484647 1311431 119994 53222 782333 499184 186478 96671 3545065 2537637 581880 425548 1664970 1433251 86986 144733 0 0 0 0 4674353 1015852 3643624 14877 2237643 1941122 105608 190913 0 0 0 0 1367169 1066019 76263 224887 1585781 1503750 80453 1578 0 0 0 0 7341122 6434344 808299 98479 451812 2224 447033 2555 Study Abroad/Off Campus 2120077 1945446 173894 737 Food service-Auxiliary 4075497 4075497 0 0 Library Acquisitions 1601784 1601784 0 0 Misc 1193727 5122508 -4048626 119845 -709332 8145602 -9800465 945531 148783901 140484112 3057383 5242406 13302052 25517758 28095932 16363907 4987372 5505050 673806 613113 0 0 0 0 109646 95728 575000 191361 1757224 1258722 214342985 94565109 116038735 119777876 60918771 71893999 266926492 303381683 5738633 5381584 0 0 866158 1142516 499989821 551123297 12967067 10275906 0 0 8970249 9768487 83970293 78575596 0 0 0 0 0 0 3125 750000 15335725 15662159 121246459 115032148 X 99882891 115787024 153812455 192056994 125048016 128247131 378743362 436091149 499989821 551123297 X 13723265 46120478 0 -1896437 0 -599519 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 31359 0 0 31359 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 Gerald D'Amico works with the University to make us aware of federal and state programs, the funding of which may be of assistance to Clark programs. A small portion of the President's and VP for Community and Government Relations' time is spent meeting with and calling government officials. 0 0 X X X 0 299286423 12123813 58133097 4478668 8725193 1465662 354873810 316926482 1812063 -5223151 8446464 4360313 1422194 299286423 263602730 5629721 61478734 4246716 8161429 1376558 316926482 214649752 17220794 45363929 4387849 7946652 1297244 263602730 290401100 2275475 -64998855 4292563 7552362 1183043 214649752 0.14 0.86 0 1 0 0 13844829 13844829 0 185463463 86482744 98980719 0 145834 87012 58822 0 13285208 7995353 5289855 0 1603651 0 1603651 119777876 0 F 0 F Other 319140 F Partnerships/Alternative Investments 303062543 F 303381683 0 Annuities payable 7494893 Perkins federal liability contra 5502823 PILOT liability 1400537 Conditional Asset Retirement Obligation 1090699 FIN 48 liability 89495 Capital lease obligation 43175 Deferred compensation-VP 28852 UBI tax liability 10476 Equipment financing payable 1209 15662159 X 154977001 46120478 0 0 -52003525 -5883047 160860048 1896437 -249319 1647118 162507166 97629214 0 0 0 249319 249319 97379895 0 51404006 51404006 148783901 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The University houses certain collections of works of art, literary works and artifacts. These collections are protected and preserved for public exhibition, education, research, and the furtherance of public service. They are neither disposed of for financial gain nor encumbered in any manner. Accordingly, these collections are not recorded or capitalized for financial statement purposes. SchD_P03_S00_L04 Schedule D, Part III, Line 4 Clark University has art and book collections that are used by students and faculty to enhance the curriculum. On occasion, these works have been accessed for scholarly research. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The University has adopted an endowment investment philosophy, which combined with the spending rate, attempts to provide a predictable stream of returns thereby making funds available to programs that are supported by its endowment, while at the same time seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that the organization must hold in perpetuity or for donor-specified periods. Under the University's Investment Policy and spending rate, both of which are approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to produce an inflation-adjusted return in excess of the spending rate over a long period of time. The use of the distribution is for mission related activities including student scholarships, library acquisitions, research, academic support, student loans, and instruction. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The University is a not-for-profit organization that is generally exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code except for certain unrelated business activities. Accordingly, no provision for income taxes related to tax exempt activities is recorded in the financial statements. With respect to unrelated business activities, the University recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for temporary differences between the accounting bases and the tax bases of the University's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. Deferred tax expense or benefit is the result of changes in deferred tax assets and liabilities. A valuation allowance is recorded against deferred tax assets for the portion of the asset that management believes is not more-likely-than-not to be realized. The University recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. There have been no material changes in unrecognized benefits since adoption. It is the University's policy to record estimated interest and penalties (if any) as part of general and institutional expense. Management believes that the University's income tax returns for fiscal years ending May 31, 2009 and prior are no longer subject to examination by tax authorities in its major tax jurisdictions. As of May 31, 2013 and 2012, the University has net operating loss carry-forwards of $221,000 and $331,000 respectively, resulting from certain investment activity that is considered unrelated business activity. The University has gross deferred tax assets of $89,000 and $132,000 as of May 31, 2013 and 2012 respectively, arising from the net operating loss carry-forwards that do not meet the more-likely-than-not standard; there was a full valuation reserve against these deferred tax assets at May 31, 2013 and 2012. SchD_P11_S00_L02d Schedule D, Part XI, Line 2d Reclass tuition remissions ($51,404,006); Annuity and unitrust obligation expense ($1,293,151); change in value of interest rate swap $768,773; change in value of other assets ($351,500); change in value of beneficial interest in outside trust $276,359 SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Reclass rental property expense $249,319. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Reclass of rental property expense to revenue $249,319. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Reclass tuition and fee discounts to expense $51,404,006. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Policy is printed in student handbooks, is available on the school website, and is referenced in all print media. SchE_P01_S00_L06 Schedule E, Part I, Line 6 To provide financial assistance to our students, the University participates in the Title IV program for Campus Work Study, Supplemental Opportunity Grant, and the Perkins Loan programs. 1 Central America and the Caribbean 0 0 Grantmaking grants 41500 East Asia and the Pacific 0 0 Grantmaking Grants 44509 Europe (including Iceland and Greenland) 0 0 Grantmaking Grants 163598 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Grants 1076 South America 0 0 Grantmaking Grants 21046 South Asia 0 0 Grantmaking Grants 3634 Sub-Saharan Africa 0 0 Grantmaking Grants 7121 East Asia and the Pacific 0 0 Fundraising 638 Central America and the Caribbean 0 0 Program Services Conferences 4018 East Asia and the Pacific 0 0 Program Services Conferences 46158 Europe (including Iceland and Greenland) 0 0 Program Services Conferences 65507 Middle East and North Africa 0 0 Program Services Conferences 3116 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Conferences 9709 Russia and the newly independent States 0 0 Program Services Conferences 4231 South America 0 0 Program Services Conferences 4796 South Asia 0 0 Program Services Conferences 2552 Sub-Saharan Africa 0 0 Program Services Conferences 1500 Central America and the Caribbean 0 0 Program Services Instruction 24376 East Asia and the Pacific 0 0 Program Services Instruction 27291 Europe (including Iceland and Greenland) 0 0 Program Services Instruction 100322 Russia and the newly independent States 0 0 Program Services Instruction 2115 South America 0 0 Program Services Instruction 3493 South Asia 0 0 Program Services Instruction 375 Sub-Saharan Africa 0 0 Program Services Instruction 1453 Middle East and North Africa 0 0 Program Services Professional Development 449 Central America and the Caribbean 0 0 Program Services Program Development 3065 East Asia and the Pacific 0 0 Program Services Program development 22871 Europe (including Iceland and Greenland) 0 0 Program Services Program Development 55943 Middle East and North Africa 0 0 Program Services Program Development 12207 Russia and the newly independent States 0 0 Program Services Program Development 20415 South America 0 0 Program Services Program Development 1198 Sub-Saharan Africa 0 0 Program Services Program Development 7233 Central America and the Caribbean 0 0 Program Services Student Recruitment 14562 East Asia and the Pacific 0 0 Program Services Student Recruitment 18445 Europe (including Iceland and Greenland) 0 0 Program Services Student Recruitment 9180 Middle East and North Africa 0 0 Program Services Student Recruitment 12754 Russia and the newly independent States 0 0 Program Services Student Recruitment 1730 South America 0 0 Program Services Student Recruitment 368 South Asia 0 0 Program Services Student Recruitment 10065 Sub-Saharan Africa 0 0 Program Services Student Recruitment 2503 Europe (including Iceland and Greenland) 0 0 Program Services Research 2481 Sub-Saharan Africa 0 0 Program Services Research 2672 Central America and the Caribbean 0 0 Investments 6978405 0 0 7760680 Europe (including Iceland and Greenland) Research 13920 wire transfer 0 North America (including Canada and Mexico, but not the United States) Research 39232 check 0 South Asia Research 26054 check 0 South America Research 22126 wire transfer 0 South America Research 22126 wire transfer 0 South America Research 8280 wire transfer 0 2 4 Scholarships Central America and the Caribbean 1 5093 check 0 Scholarships East Asia and the Pacific 1 9478 check 0 Scholarships Europe (including Iceland and Greenland) 8 21451 check 0 1 0 0 1 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 PRE-AWARD SUBRECIPIENT MONITOR: Federal awards are identified by informing each subrecipient of CFDA title and number, award name and number, award year, and name of Federal agency. If any of this information is not available, the pass-through entity shall provide the best information available to describe the Federal award. The subrecipient is advised of requirements imposed by governing laws, regulations, and provisions of contracts or grant agreements and supplemental requirements imposed by the pass-through entity. The subrecipients activities are monitored to ensure awards are used for authorized purposes in compliance with laws, regulations, and the provisions of contracts or grant agreements and performance goals are achieved. Assurance is ascertained that any subrecipient expending $500,000 or more in Federal awards during the subrecipient's fiscal year must meet the audit requirements of OMB A-133. A management decision on audit findings must be issued within six months after receipt of the subrecipient's audit report and ensure that the subrecipient takes appropriate and timely corrective action. A determination is made as to whether subrecipient audits necessitate adjustment of the pass-through entity's own records. Each subrecipient is required to permit the pass-through entity and auditors to have access to the records and financial statements as necessary for the pass-through entity to comply with this part. POST-AWARD SUBRECIPIENT MONITORING: The Principal Investigator (PI) or Program Director (PD) is responsible for monitoring the activities. The subrecipient will submit progress reports, technical reports and other deliverables to the PI/PD by specified due dates. The PI/PD is responsible for forwarding copies of the subrecipient's report(s) to the Office of Research and Sponsored Programs (ORSP). Subrecipient invoices submitted to the university must contain the following information: invoice must be on subcontractor's letterhead, date of invoice, invoice number, period of performance covered by the invoice, itemized description of services and backup documentation, current period costs, including cost sharing, cumulative project costs, including cost sharing, subrecipient contact person with respect to invoice, invoice must be signed by an authorized official of the subcontractor, invoice must contain a certification that all payments requested are for appropriate purposes and in accordance with the agreements set forth in the application and award documents. The PI/PD is responsible for reviewing and approving invoices from subrecipient(s) for adherence to the budget. The signature of the PI/PD on the invoice indicates that the review has taken place and that the invoice adheres to budget. Grant Accounting reviews the subrecipient's invoice(s) for the following: period of performance is within the contract period, appropriate invoice format and level of detail, signatures of the PI/PD, certification of signature by authorized subrecipient representatives, funds are available in contract, and cost share documentation is provided, if applicable. Grant Accounting is responsible for ensuring that subrecipients that expend $500,000 or more of federal funds each fiscal year submit an A133 Audit Certification Letter. The following is required to close out a subrecipient award: receipt of final invoice, receipt of cost share documentation, if applicable, time and effort certifications, final progress and technical reports, annual A133 certification letter. Grant Accounting is responsible for tracking payments made to individuals or organizations where payments are made when out of the US as required by the Schedules F and I - Form 990." EDUCATIONAL ASSISTANCE: Educational assistance is awarded based on financial need and merit. Need based assistance is awarded after review of the student's FAFSA, tax return transcripts, W-2 statements, and other relevant financial documents. Students are required to maintain satisfactory academic progress in order to continue to be eligible for need based assistance. Students' Grade Point Averages and earned units are reviewed each academic year to ensure satisfactory academic progress is achieved. Merit based educational assistance is awarded to students via Committee. Students who are awarded merit based assistance are required to maintain satisfactory academic progress in accordance with the terms of the assistance received. Need and merit based educational assistance are funded directly to the student's accounts receivable balance to offset tuition, fees, and room and board. Any resulting refunds are issued to the student. Students are granted research awards by their academic departments and work with faculty advisors who monitor the research performed by the student. X X X X X X 1 Washburn and McGoldrick Inc 950 New Loundon Street Latham NY 12110 Campaign consulting 0 0 20929 -20929 Kristin V Rehder and Associates 336 N Christian Street Lancaster PA 17602 Campaign consulting 0 0 22500 -22500 0 43429 -43429 MA 1 UGA Research Foundation Inc 475 North Lumpkin Rd Athens GA 30602 581353149 501c3 192323 0 Research University of Maryland Box 775 Cambridge MD 21613 526002033 501c3 55217 0 Resesarch San Diego State University Foundation 5250 Campanile Drive San Diego CA 92182 956042721 501c3 45306 0 Research National Oceanic and Atmospheric Administration PO Box 979008 St Louis MO 63197 061834875 government org 30564 0 Research Bridgewater State University Boyden Hall Room 204 Bridgewater MA 02325 043010428 government org 20180 0 Research Louisiana State University PO Box 25203 Baton Rouge LA 70803 726000848 501c3 18650 0 Research University of New Hampshire Service Building Room 109 Durham NH 03824 026000937 501c3 6775 0 Research 7 0 Undergraduate scholarships 1993 36590571 0 Graduate scholarships 113 150533 0 Graduate remissions 821 13688197 0 Undergraduate remissions 164 909114 0 Graduate awards 104 657985 0 Undergraduate awards 178 414426 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 PRE-AWARD SUBRECIPIENT MONITOR: Federal awards are identified by informing each subrecipient of CFDA title and number, award name and number, award year, and name of Federal agency. If any of this information is not available, the pass-through entity shall provide the best information available to describe the Federal award. The subrecipient is advised of requirements imposed by governing laws, regulations, and provisions of contracts or grant agreements and supplemental requirements imposed by the pass-through entity. The subrecipients activities are monitored to ensure awards are used for authorized purposes in compliance with laws, regulations, and the provisions of contracts or grant agreements and performance goals are achieved. Assurance is ascertained that any subrecipient expending $500,000 or more in Federal awards during the subrecipient's fiscal year must meet the audit requirements of OMB A-133. A management decision on audit findings must be issued within six months after receipt of the subrecipient's audit report and ensure that the subrecipient takes appropriate and timely corrective action. A determination is made as to whether subrecipient audits necessitate adjustment of the pass-through entity's own records. Each subrecipient is required to permit the pass-through entity and auditors to have access to the records and financial statements as necessary for the pass-through entity to comply with this part. POST-AWARD SUBRECIPIENT MONITORING: The Principal Investigator (PI) or Program Director (PD) is responsible for monitoring the activities. The subrecipient will submit progress reports, technical reports and other deliverables to the PI/PD by specified due dates. The PI/PD is responsible for forwarding copies of the subrecipient's report(s) to the Office of Research and Sponsored Programs (ORSP). Subrecipient invoices submitted to the university must contain the following information: invoice must be on subcontractor's letterhead, date of invoice, invoice number, period of performance covered by the invoice, itemized description of services and backup documentation, current period costs, including cost sharing, cumulative project costs, including cost sharing, subrecipient contact person with respect to invoice, invoice must be signed by an authorized official of the subcontractor, invoice must contain a certification that all payments requested are for appropriate purposes and in accordance with the agreements set forth in the application and award documents. The PI/PD is responsible for reviewing and approving invoices from subrecipient(s) for adherence to the budget. The signature of the PI/PD on the invoice indicates that the review has taken place and that the invoice adheres to budget. Grant Accounting reviews the subrecipient's invoice(s) for the following: period of performance is within the contract period, appropriate invoice format and level of detail, signatures of the PI/PD, certification of signature by authorized subrecipient representatives, funds are available in contract, and cost share documentation is provided, if applicable. Grant Accounting is responsible for ensuring that subrecipients that expend $500,000 or more of federal funds each fiscal year submit an A133 Audit Certification Letter. The following is required to close out a subrecipient award: receipt of final invoice, receipt of cost share documentation, if applicable, time and effort certifications, final progress and technical reports, annual A133 certification letter. Grant Accounting is responsible for tracking payments made to individuals or organizations where payments are made when out of the US as required by the Schedules F and I - Form 990." EDUCATIONAL ASSISTANCE: Educational assistance is awarded based on financial need and merit. Need based assistance is awarded after review of the student's FAFSA, tax return transcripts, W-2 statements, and other relevant financial documents. Students are required to maintain satisfactory academic progress in order to continue to be eligible for need based assistance. Students' Grade Point Averages and earned units are reviewed each academic year to ensure satisfactory academic progress is achieved. Merit based educational assistance is awarded to students via Committee. Students who are awarded merit based assistance are required to maintain satisfactory academic progress in accordance with the terms of the assistance received. Need and merit based educational assistance are funded directly to the student's accounts receivable balance to offset tuition, fees, and room and board. Any resulting refunds are issued to the student. Students are granted research awards by their academic departments and work with faculty advisors who monitor the research performed by the student. X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 David Angel 270104 0 31000 0 0 0 25000 0 42849 0 368953 0 0 0 Davis Baird 220965 0 0 0 0 0 21897 0 492 0 243354 0 0 0 Nancy Budwig 157938 0 0 0 0 0 15944 0 10717 0 184599 0 0 0 James Collins 160656 0 24510 0 0 0 31519 0 13894 0 230579 0 0 0 Paula David 221379 0 0 0 0 0 22392 0 9807 0 253578 0 0 0 William Fisher 173179 0 0 0 0 0 17273 0 1143 0 191595 0 0 0 John Foley 140957 0 0 0 0 0 13977 0 22874 0 177808 0 0 0 Donald Honeman 166535 0 0 0 0 0 16721 0 1084 0 184340 0 0 0 Andrew McGadney 239622 0 0 0 3510 0 23896 0 3857 0 270885 0 0 0 Andrea Michaels 166865 0 0 0 0 0 17164 0 18305 0 202334 0 0 0 Pennie Turgeon 165686 0 0 0 0 0 16611 0 20391 0 202688 0 0 0 Deborah Dwork 164546 0 0 0 0 0 16330 0 11501 0 192377 0 0 0 Ronald Eastman 157617 0 0 0 0 0 16716 0 22603 0 196936 0 0 0 James Gomes 156326 0 0 0 0 0 15880 0 79339 0 251545 0 0 0 Robert Johnston 171170 0 0 0 0 0 17682 0 17268 0 206120 0 0 0 Joseph Sarkis 157249 0 0 0 0 0 15950 0 7041 0 180240 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Jocelyne Bauduy, wife of President David Angel, travels on bona fide business trips in her postion as Special Assistant to the President. President David Angel is required to live in a house owned by the University. No value was included in compensation. David Angel, Davis Baird, and Andrew McGadney have memberships at the Worcester Club for the purpose of University related entertaining. Appropriate business expenses are paid by the University. A Massachusetts Development Finance Agency 043431814 57583REQ4 2005-11-03 20000000 Refund MIFA96 (OID 5/2/96) Construct & Equip residence hall 0 0 0 B Massachusetts Development Finance Agency 043431814 57583RUU7 2008-04-07 50255000 Refund MDFA (OID: 11/2/00), Refund MDFA02A (OID:11/26/2002), Refund MDFA02B (OID: 11/26/2002) Constr 0 0 0 C Massachusetts Development Finance Agency 043431814 57583UJY5 2011-12-01 20098799 Refund MDFA98 (OID 11/10/98), Finance the construction, renovation and/or equipping of certain faci 0 0 0 A 3520000 0 21554838 0 1319559 0 253854 241643 0 16430547 3309235 0 2008 0 1 1 1 B 7310000 719566 50334445 0 0 0 273558 78412 0 10080875 39901600 0 2009 1 0 1 1 C 755000 0 20099208 0 0 0 253048 0 0 5616353 14229806 0 2013 1 0 1 1 A 0 0 0 0 0 0 0 1 0 1 B 0 0 1 0 1 0 0.0023 0 0.0023 1 0 1 C 0 0 0 0 0 0 0 1 0 1 A 1 0 0 0 0 1 B 0 0 1 0 1 1 Barclay's 30 0 0 0 0 0 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SchK_P02_S00_L03 Schedule K, Part II, Line 3 Total proceeds include investment earnings and issue preimium/discounts. SchK_P04_S00_L02c Schedule K, Part IV, Line 2c Clark has engaged AMTEC to perform the arbitrage rebate computations for the MDFA Series 2011. Their computations covered the period from December 1, 2011 through December 31, 2012 with activity future valued to December 1, 2016 - the end of the fifth Bond Year and Computation Date. The report, dated February 25, 2013, provided their calculation and conclusion that no rebate liabillity existed and reporting to the IRS was not required at that time. FERPA - 1 Student FERPA -Excluded 12000 Student achievement grant educational grant Eric Epstein Trustee who is a director of Davidson Kempner 6000000 Clark has invested $6,000,000 in Davidson Kempner 0 Cathy Lasry Former trustee and wife of Marc Lasry who has ownership interest in excess of 5% in Avenue Capital 756000 Clark had invested in Avenue Capital Investment and had divested in total by the end of FY13. 0 William S Mosakowski Former trustee,substantial contributor,ownership interest in excess of 5% in Public Consulting Group 360112 Public Consulting Group purchases educational programs from Clark's Graduate School of Management for their employees. Mr. Mosakowski has an ownership interest in excess of 5% in PCG. 0 Christopher Cannon Employee is son of officer, K. Cannon 43603 Compensation for position of Mail and Delivery Assistant 0 Jocelyne Bauduy Employee is wife of President, David Angel 22535 Compensation for position of Special Assistant to the President 0 X 40 500694 market value 0 0 1 0 F990_P03_S00_L00a Form 990, Part III (Cont. 1) Continued from Part III......The focus of Clark's academic program is a liberal-arts education. Growth of students is enhanced by a wide variety of educational programs and extracurricular activities. Clark's academic community has long been distinguished by the pursuit of scientific inquiry and humanistic studies. The University maintains a national and international character, attracting high-caliber students and faculty. To view the University's Mission Statement in its entirety, please visit: www.clarku.edu/offices/aac/ada/mission.cfm F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Two of Clark's Trustees are related. Robert Stevenish and Robert Stevenish Junior are father and son. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The Audit Committee of the Board of Trustees was authorized and requested to review the administration's draft responses to the form 990. This was completed at the January 23,2014 meeting of the committee. The Board has authorized the submittal to the Internal Revenue Service with the approval of the Audit Committee. In addition, the reviewed draft of the 990 is posted on the trustee web page and each member is notified of the opportunity to reiview before submission. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each trustee, senior administrator and faculty member is required to complete annually a conflict of interest disclosure form. Faculty forms are reviewed by the Grants Office within the Office of Academic Affairs. Trustees and senior administrators' disclosures are reviewed by the Assistant Secretary of the Corporation and the Executive Vice President, who is also the Treasurer of the Board of Trustees. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 15 a. Historically, including the determination of fiscal '13 compensation for the President, the Chairman of the Board of Trustees requests the Vice President for Planning and Finance to provide comparable institution compensation data. Data is obtained from a combination of publicly available forms 990, information disclosed in the Chronicle of Higher Education, and from salary surveys, including those available from the College and University Personnel Association (CUPA) . These data are submitted directly without editing. The Board Chair discusses performance metrics, including a review of the objectives achieved, with both the President and the Board of Trustees. The Board Chair advises the full Board of Trustees of the compensation level of the President. During fiscal 13 the process was further improved by engaging a professional compensation consultant and establishing an Executive Compensation Committee. The Committee was charged by the full Board of Trustees with establishing the President's compensation with the assistance of the consultant, who developed appropriate performance metrics and collected the comparable institution survey data. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Clark University's governing documents, conflict of interest policy, and financial statements are all considered public documents. The governing documents, including the provisions of Jonas Clark's will, the by-laws of the University and the Articles of Incorporation are available for public viewing in Goddard Library , and are also publicly available as a result of several public debt issuances through the Massachusetts Development Finance Agency (MDFA). Financial statements are similarly available, and are also posted on the University's website and through Guidestar. The conflict of interest policy is available upon request from the Board of Trustees office and the Office of Sponsored Programs and Research. F990_P11_S00_L09 Form 990, Part XI, Line 9 Annuity and unitrust obligation expense: ($1,293,151); Change in value of interest swap $768,773; Change in value of other assets ($351,500); Change in value of beneficial interest in outside trust $276,359 Charitable Remainder Trust (27) 950 Main Street Worcester MA 01610 Charitable Trust MA N/A T 0 Lead Annuities (4) 950 Main Street Worcester MA 01610 Charitable Trust MA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 All the information necessary to submit an accurate return was not available to file by the original due date.