2014-05-14T17:28:35-07:00 2013-06-30 990 2012-07-01 410694747 CARLETON COLLEGE CARL 5072224000 One North College Street Northfield MN 55057 Frederick A Rogers 5072224171 2014-03-01 2012 2015-11-30 17:44:51Z Frederick A Rogers One North College Street Northfield MN 55057 220201726 0 X www.carleton.edu X 1866 MN Carleton College is a small, private liberal arts college, located in Northfield, Minnesota, best known for its academic excellence and warm, welcoming campus community. Carleton offers 37 majors and 15 concentrations in the arts, humanities, natural sciences and social sciences. 42 41 2924 5100 1961670 0 19527129 24900207 103869409 108687657 18709072 42847854 3540600 4092635 145646210 180528353 30961482 32333766 0 0 68461903 69789417 0 0 4420565 52485848 56521118 151909233 158644301 -6263023 21884052 1002749927 1055244227 157705400 143494564 845044527 911749663 Carleton College's mission is to provide an exceptional undergraduate liberal arts education. The College is devoted to academic excellence, distinguished by the creative interplay of teaching, learning, and scholarship and is dedicated to a diverse residential community and extensive international engagements. 0 0 88948122 32333766 89507622 Instruction - Carleton College exists to provide a high quality liberal arts education for young women and men, preparing them for leadership in their communities, countries and the world. (1996 students). A Student-Faculty Ratio of 9:1 supports them with classroom, laboratory, off-campus study and research opportunities. Average class size is 18. 74% of the graduating class of 2013 participated in a study abroad program during their Carleton experience. Student Financial Aid Programs - Carleton meets 100% of the financial need of all admitted students to ensure affordability and accessibility; achieve cultural, racial, ethnic and socioeconomic diversity; and to fund the school's growing commitment to globalization (1272 students) 17939188 0 19180035 Auxiliary Enterprises - Carleton College maintains a rural residential campus to enhance the educational experience of the student body with room and board programs designed to encourage a spirit of collegiality and conversation beyond the classroom and laboratory (1769 students) 14540117 0 14540117 Student Services Programs: Programs designed to support the Carleton College student life experience including co-curricular and recreational opportunities (1996 students) 15231376 0 0 Academic Support programs enhance the Carleton liberal arts experience with library and information technology resources. (1996 Students) 15231376 0 0 136658803 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 444 0 1 2924 1 1 1 1 AS AU EI FR HK JA NL NZ SF SN SP SW SZ UK 0 0 0 0 1 2 1 1 1 1 0 X 42 41 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MN NH WA X X X Frederick A Rogers 5072224000 One North College Street Northfield MN 55057 Nina M Archabal 5 0 X 0 0 0 Carol A Barnett 5 0 X 0 0 0 Danielle S Bart 5 0 X 0 0 0 Alan R Bauer 5 0 X 0 0 0 Beth Boosalis Davis 5 0 X 0 0 0 Nancy Pellowe Dennis 5 0 X 0 0 0 David M Diamond 5 0 X 0 0 0 Arnold W Donald 5 0 X 0 0 0 Jack W Eugster 5 0 X 0 0 0 William A Feldt 5 0 X 0 0 0 William R Gage 5 0 X 0 0 0 Maureen G Gupta 5 0 X 0 0 0 John F Harris 5 0 X 0 0 0 Elise M Holschuh 5 0 X 0 0 0 James E Johnson 5 0 X 0 0 0 Martha H Kaemmer 5 0 X 0 0 0 Leslie B Kautz 5 0 X 0 0 0 Arthur D Kowaloff 5 0 X 0 0 0 Richard B Kracum 5 0 X 0 0 0 Marilyn M McCoy 5 0 X 0 0 0 William R McLaughlin 5 0 X 0 0 0 Bonnie J Melville 5 0 X 0 0 0 Robert W Nelson 5 0 X 0 0 0 Marc Noel 5 0 X 0 0 0 Gary T O'Brien 5 0 X 0 0 0 Catherine J Pagila 5 0 X 0 0 0 Lawrence Perlman 5 0 X 0 0 0 Pamela Kiecker Royall 5 0 X 0 0 0 Jack W Schuler 5 0 X 0 0 0 Margaret C Simms 5 0 X 0 0 0 David B Smith 5 0 X 0 0 0 Gary L Sundem 5 0 X 0 0 0 Caesar F Sweitzer 5 0 X 0 0 0 Alan C Thiel 5 0 X 0 0 0 R Kirk Weidner 5 0 X 0 0 0 Wallace R Weitz 5 0 X 0 0 0 Justin B Wender 5 0 X 0 0 0 Bonnie M Wheaton 5.00 0 X 0 0 0 Michael L Wiebolt 5 0 X 0 0 0 Mark R Williams 5 0 X 0 0 0 Sidney C Wolff 5 0 X 0 0 0 Steven G Poskanzer 60 0 X X 397959 0 164043 Frederick A Rogers 50.00 0 X 283565 0 40668 Donald A Hasseltine 50.00 0 X 297711 0 69120 Beverly Nagel 50.00 0 X 236298 0 30664 M H Wagner 40.00 0 X 181956 0 25156 Paul Thiboutot 40.00 0 X 168212 0 36259 Jason Matz 40.00 0 X 318990 0 25834 Andrew Christensen 40.00 0 X 198399 0 45902 Joel Cooper 40.00 0 X X 168174 0 24946 Joel Weisberg 40.00 0 X 166548 0 36830 Samuel Patterson 40.00 0 X 159114 0 34287 2576926 0 533709 100 1 1 0 PCL Construction Services 12200 Nicollet Ave S Burnsville MN 55337 Engineering and project management 7839941 Bon Appetit 100 Hamilton Avenue Suite 400 Palo Alto CA 94301 Food Service 7729529 McGough Construction Co Inc 2737 Faiview Avenue North St Paul MN 551131372 Construction contractor 1298174 River City Builders PO Box 7 Nerstrand MN 55053 Construction contractor 852833 Terra General Contractors LLC 21025 Commerce Blvd Rogers MN 55374 General contractor 593586 34 0 0 0 0 4023654 20876553 7359862 24900207 Comprehensive Fee 611310 108687657 108687657 0 0 0 0 0 0 108687657 1166602 0 0 1166602 745 0 0 745 141654 0 0 141654 261135 0 665179 0 -404044 0 -404044 0 8497 -412541 79757161 17845 38039937 54562 41717224 -36717 41680507 0 1751136 39929371 0 1451601 913695 537906 537906 0 0 Summer Academic Programs 611310 1180777 1180777 0 0 Wind Turbine 221000 202037 0 202037 0 Other Auxiliary Enterprises 900003 150663 150663 0 0 2283642 2283642 0 0 3817119 180528353 112840645 1961670 40825831 0 0 32333766 32333766 0 0 0 0 1587086 354595 927004 305487 0 0 0 0 51092363 43632184 4995541 2464638 4635054 3874203 495548 265303 8923792 7454631 973637 495524 3551122 2999757 367021 184344 2757918 2027182 635687 95049 46357 0 46357 0 102881 0 102881 0 0 0 0 0 0 0 4126146 0 4126146 0 0 0 0 0 76265 4639 71594 32 4716178 3510822 956456 248900 1579544 1279255 300289 0 0 0 0 0 5178483 4984129 189239 5115 7016120 6644392 199664 172064 0 0 0 0 597615 517499 60023 20093 3072378 2991120 81258 0 0 0 0 0 10432798 10308372 124426 773211 433442 339769 0 Membership Fees 361673 0 361673 0 Faculty and Staff Recruitment 388726 0 388726 0 Food Service 6692444 6692444 0 0 Off Campus Studies 5182831 5182831 0 0 3419550 1433540 1821994 164016 158644301 136658803 17564933 4420565 75887861 42670896 20776191 14660764 1514335 1935307 8054826 7649564 819471 878273 2130633 2007258 338025945 144418855 186430462 193607090 248458967 292884061 448711588 488172722 9965593 10778292 1002749927 1055244227 12051671 10613030 5378790 5337411 4336928 4782756 108424821 94507979 27513190 28253388 157705400 143494564 X 340966332 378463201 323085978 344875064 180992217 188411398 845044527 911749663 1002749927 1055244227 X 21884052 39565947 0 4126146 0 1128991 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 0 1 0 1 80645 1 0 1 350 0 80995 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 College Relations occasionally contact legislators to express the College's views on pending legislation which would affect the College. Costs incurred in connection with these activities are insignificant and no separate account is made for these costs. In addition, students participate in a volunteer activity sponsored by the Minnesota Private Council (MPCC) called "Day at the Capital" to discuss the importance of the State Grant Program with representatives. Costs incurred by the College to support this program are De minimus. Carleton College is a member of Minnesota Private College Council (MPCC), an organization described in section 501(c)(4) of the Internal Revenue Code. MPCC is an association of private nonprofit institutions of higher education that serves a variety of its members' shared needs, included, but not only, nonpartisan and non-electoral advocacy for public policy that meets students' needs and advances the interest of private higher education. Carleton College paid member dues to MPCC in the amount of $153,113 during the taxable year. MPCC has divided its expenses for its taxable year ending June 30, 2013 into two groups. Group 1 consists of those expenses that did not in any way support attempts to influence legislation within the meaning of section 501(c)(3) of the Internal Revenue Code ('lobbying"), and Group 2 consists of all other expenses. Group 2 includes many expenses such as personnel costs, that support both lobbying and nonlobbying activities. MPCC did not attempt to allocate the Group 2 expenses between lobbying and nonlobbying activities. MPCC has determined that the amount of the Group 2 expenses represents 52.67% of the amount of dues that MPCC collected in the same taxable year. Assuming that all Group 2 expenses were paid from member dues, and allocating those expenses pro rata based on the dues paid by each member, $80,645 of Carleton College's dues were used to pay Group 2 expenses. The amount of lobbying expenses paid from Carleton College's dues was significantly less than that amount. 107725 107725 0 0 X X X 0 651655398 11900109 78960412 7611873 25229420 4959966 704714660 666402763 2774503 17724826 7387060 24422145 3437489 651655398 582570193 9469250 109737985 7355446 24886524 3132695 666402763 540722300 17555876 58848146 7240689 24872470 2442970 582570193 670511423 9766908 -102669593 7585577 26245329 3055532 540722300 0.33 0.25 0.42 1 0 0 4165199 4165199 0 247852624 76964052 170888572 0 0 0 0 0 84456070 67454803 17001267 0 1552052 0 1552052 193607090 0 0 Private Equity 125618878 F Hedge Funds 234565785 F Real Assets 71202566 F Planned Gift Agreements and Other 56785493 F 488172722 0 Annuities Payable 23622201 Asset Retirement Obligation 2579474 Fair Value of Interest Rate SWAP 2051713 28253388 X 188889525 39565947 0 0 -32783649 6782298 182107227 0 -1578874 -1578874 180528353 122184389 0 0 0 0 0 122184389 4126146 32333766 36459912 158644301 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Carleton's Art Collection is for student research and study including College archives of institutionally significant treasures and Library collections. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment funds are to support grants to students and the program services at the College. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College qualifies as a tax-exempt nonprofit organization under Section 501(c)(3) of the Internal Revenue Code and similar statutes of Minnesota law. The College is subject to federal income tax only on net unrelated business income under the provisions of Section 501(c)(3) of the Internal Revenue Code. The College has evaluated its tax positions and determined it has no uncertain tax positions and has recorded no obligation for unrelated business income tax. No provisions for federal or state income taxes are required as of June 30, 2013. The College's 2009 through 2012 tax years are open for examination by federal and state taxing authorities. SchD_P11_S00_L02d Schedule D, Part XI, Line 2d Net change in Annuity & Life Income Funds -$1,322,649; Unrealized gain on Interest Rate Swap $872,766; Scholarships -$32,333,766 SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Rental Expenses $665,179; Bookstore Cost of Goods Sold $913,695 SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Scholarships 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 The College uses paper and broadcast media in solicitation of students. We publicize our nondiscriminatory policy in all printed brochures, magazines and application material and website information. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Carleton College participates in the Federal Student Financial Aid Program administered through the U.S. Department of Education. Carleton students receive funding from campus-based programs (Perkins, SEOG, and Federal Work Study) as well as Federal Pell Grants and Federal Student Loans. In addition, Carleton students receive funding via the Minnesota State Grant, Work-Study and SELF loan programs administered through the Minnesota Office of Higher Education. Central America and the Caribbean 0 0 Investments 232592464 East Asia and the Pacific 0 0 Program Services Chinese Studies-Tianjin 403584 East Asia and the Pacific 0 0 Program Services Coastal Marine Ecology-Australia 389027 East Asia and the Pacific 0 0 Program Services Studio Art-South Pacific 369485 Europe (including Iceland and Greenland) 0 0 Program Services New Media Seminar-Europe 332036 Europe (including Iceland and Greenland) 0 0 Program Services Medieval-Renaissance Rome 355177 South America 0 0 Program Services Society, Culture, Language-Peru 317507 Europe (including Iceland and Greenland) 0 0 Program Services Economics in Cambridge 271728 Europe (including Iceland and Greenland) 0 0 Program Services Cross-Cultural Psychology in Prague 252685 Europe (including Iceland and Greenland) 0 0 Program Services French Studies in Paris 210617 Europe (including Iceland and Greenland) 0 0 Program Services Spanish Studies in Madrid 203316 Sub-Saharan Africa 0 0 Program Services Conservation and Development-Tanzania & Ethiopia 182694 Middle East and North Africa 0 0 Program Services Winter Break - Dubai 29010 Central America and the Caribbean 0 0 Program Services Winter Break - Belize 25396 South Asia 0 0 Program Services Winter Break - Bangledesh 18211 Europe (including Iceland and Greenland) 0 0 Program Services Winter Break - Vienna 11860 0 0 235964797 1 0 0 0 1 1 1 City of Northfield 801 Washington Street Northfield MN 55057 416005424 75000 0 Cash 0 Annual contribution 1 0 Student Scholarships 1272 32333766 0 Financial Need SchI_P01_S00_L02 Schedule I, Part I, Line 2 Grants, scholarships, loans and work-study funds are awarded to students based on demonstrated financial need using nationally recognized needs analysis standards. X X X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 Steven G Poskanzer 379132 0 0 0 18826 0 24500 0 139543 0 562001 0 0 Frederick A Rogers 250111 0 0 0 33453 0 24500 0 16168 0 324232 0 0 0 Donald A Hasseltine 269078 0 0 0 28633 0 44500 0 24620 0 366831 0 0 0 Beverly Nagel 232266 0 0 0 4032 0 23328 0 7336 0 266962 0 0 0 M H Wagner 180896 0 0 0 1059 0 18234 0 6921 0 207110 0 0 0 Paul Thiboutot 165638 0 0 0 2574 0 17126 0 19133 0 204471 0 0 0 Jason Matz 311310 0 0 0 7680 0 24500 0 1334 0 344824 0 0 0 Andrew Christensen 197209 0 0 0 1190 0 20750 0 25152 0 244301 0 0 0 Joel Cooper 99798 0 0 0 68376 0 11390 0 13556 0 193120 0 0 0 Joel Weisberg 135513 0 0 0 31035 0 14165 0 22665 0 203378 0 0 0 Samuel Patterson 157404 0 0 0 1710 0 16271 0 18017 0 193402 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a President Poskanzer received the following nontaxable benefits: residence on campus with the fair rental value of $59,160 per year; maid/cleaning for personal portion of residence of $6,200. Vice President Rogers received taxable income of $20,540 for housing; Dean Nagel received taxable income of $3,000 for housing; Vice President Hasseltine received taxable income of $24,800 for housing. Joel Cooper received taxable income of $11,672 for a vacation balance payout and $56,016 for severance payments. Joel Weisberg received taxable income of $29,451 for a NSF Research grant. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 25 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions look took place in Spring 2012. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Joel Cooper received taxable income of $56,016 for severance payments. SchJ_P02_S00_L00 Schedule J, Part II Column (D) Nontaxable benefits includes employer paid health benefits and tuition assistance. A Minnesota Higher Education Facilities Authority Series 6D 410988525 60416HENO 2005-04-13 31460000 Retire Series 3L1 and Series 4N, new student housing 1 0 0 B Minnesota Higher Education Facilities Authority Series 6T 410988525 60416HNH3 2008-12-04 19294728 Cassat and Memorial Hall construction 0 0 0 C Minnesota Higher Education Facilities Authority Series 7D 410988525 60416HRZ9 2010-06-29 31962105 Weitz Center for Creativity rennovation and costruction 0 0 0 A 0 0 31460000 0 0 28123498 336501 0 0 3000000 0 0 2008 0 1 1 1 B 0 0 19294728 0 0 0 291550 0 0 19003178 0 0 2011 0 0 1 1 C 0 0 31962105 0 0 0 337859 0 0 31624246 0 0 2011 0 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 A 0 0 1 0 1 1 Morgan Stanley Capital Services LLC 2022 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 SchK_P03_S00_L07 Schedule K, Part III, Line 7 These are qualified 501(c)(3) bonds X 1 107725 Appraised value X 241 7120897 Market Value X 1 60000 Gift Amount X Volunteer Expense 339 71240 Actual 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b The College will retain an attorney for non cash real estate gifts and a broker for publicly traded securities, as needed. F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 In May 2013, the Board of Trustees adopted amended and restated bylaws. In article II - Membership of Board of Trustees - it states that after two successive four-year terms, Trustees must be off the Board for at least one year after which they will be eligible for re-election to the Board. In Article VII - Committees - all committee descriptions were updated. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Management presented the 2012 Form 990 in its entirety to the Audit Committee of the Board of Trustees for their review prior to submitting it to the IRS. The 2012 Form 990 is also included on the Board of Trustees website and provided with the Board materials for all members reference. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Officers, trustees, and key employees are required to annually disclose interests that could give rise to conflict. Such interests include a list of family members, substantial business or investment holdings and other transactions or affiliations with businesses or other organizations. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1) The conflicting interest is fully disclosed; 2) the person with the conflict of interest is excluded from the discussion and approval of such transaction; 3) a competitive bid for comparable valuation exists; and 4)the Audit Committee of the Board of Trustees has determined that the transaction is in the best interest of the organization. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 25 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions last took place in Spring 2013. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Carleton's governing documents, Conflict of Interest policy, and Financial Statements are available on the organization's website and are available up request. F990_P11_S00_L09 Form 990, Part XI, Line 9 Net Change in Annuity & Life Income Funds -$1,322,649, Unrealized Gain(Loss) on Interest Rate SWAP $872,766, Real Estate Expenses $665,179, Bookstore Cost of Goods Sold $913,695 Trust Name Confidential One North College Street Northfield MN 55057 Charitable Remainder Trusts MN N/A T 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 Application for Extension of Time to File an Exempt Organization Return was filed requesting a 6 month extension allowing time for management, audit committee and trustee review. The Internal Revenue Service approved this request and extended the due date to February 15, 2014.