2014-04-14T10:12:56-05:00 2013-05-31 KPMG LLP One Financial Plaza Hartford CT 061032608 990 2012-06-01 160743040 HOBART AND WILLIAM SMITH COLLEGES % Peter D Polinak HOBA 3157813337 337 Pulteney Street Suite Geneva NY 14456 Peter Polinak 3157813337 2014-04-11 true Mary Antonetti 8605223200 2012 2015-11-30 17:44:51Z Mark D Gearan 337 Pulteney Street Geneva NY 14456 260960949 false X www.hws.edu X 1943 NY HOBART AND WILLIAM SMITH COLLEGES ARE A STUDENT-CENTERED LEARNING ENVIRONMENT, GLOBALLY FOCUSED, GROUNDED IN THE VALUES OF EQUITY AND SERVICE, DEVELOPING CITIZENS WHO WILL LEAD IN THE 21ST CENTURY. 43 42 2330 4830 615261 -302225 11296472 12816153 115876406 122436683 -1166445 10273244 663168 497367 126669601 146023447 40598624 41597251 0 0 51117696 53008324 0 0 3328915 47772810 46449570 139489130 141055145 -12819529 4968302 345447995 366308043 86192272 83617475 259255723 282690568 HOBART AND WILLIAM SMITH COLLEGES ARE A STUDENT-CENTERED LEARNING ENVIRONMENT, GLOBALLY FOCUSED, GROUNDED IN THE VALUES OF EQUITY AND SERVICE, DEVELOPING CITIZENS WHO WILL LEAD IN THE 21ST CENTURY. false false 120684139 41597251 120290281 Hobart and William Smith Colleges are a student-centered learning environment in Geneva, NY -- the heart of the Finger Lakes region. The Colleges are located at the shore of Seneca Lake on a 195-acre campus. Hobart and William Smith have a combined enrollment of approximately 2,300, and employ 209 full-time faculty lines. This allows the Colleges to maintain a student-faculty ratio of 11:1. More than 40 majors and 60 minors are offered, where a student can obtain a Bachelor of Arts, Bachelor of Science, or a Master of Arts in Teaching degree. A rich interdisciplinary program and limitless opportunities for self-discovery are hallmarks of academics at the Colleges. Hobart and William Smith are also noted for an ambitious emphasis on international study and for programs in community engagement and service-learning. Nearly 60-percent of Hobart and William Smith students study abroad in more than 40 locations around the world. The Colleges view civic responsibility, community engagement, and international education as integral components of a liberal arts education. 120684139 true true false true false false false false false true true true false false true true true false true true true false false false false false false false true true true false false false false false false false false true false true true false false false true false false false true X 400 0 true 2330 true true true true BF CJ BD EI MP HK false false false true true false false false false X 43 42 false false false false false false false true true false false true true true true true true true false false NY X Peter D Polinak 3157813337 337 Pulteney Street Geneva NY 14456 Mark Gearan 60.0 X X 468049 0 99173 Richard ABBE 2.0 X 0 0 0 Linda Arrington 2.0 X 0 0 0 Thomas Bozzuto 2.0 X 0 0 0 N Harrison Buck 2.0 X 0 0 0 Calvin Carver Jr 2.0 X 0 0 0 Dr Stephen Cohen 2.0 X 0 0 0 Edward Cooper 2.0 X 0 0 0 Timothy Eden 2.0 X 0 0 0 Katherine Elliot 5.0 X X 0 0 0 Cynthia Gelsthorpe Fish 2.0 X 0 0 0 Joy Glaser MD 2.0 X 0 0 0 Aileen Gleason 2.0 X 0 0 0 William Green 2.0 X 0 0 0 J Paul Hellstrom Jr 2.0 X 0 0 0 David Lenihan 2.0 X 0 0 0 Katherine Mackinnon 2.0 X 0 0 0 William Margiloff 2.0 X 0 0 0 Loren Marshall 2.0 X 0 0 0 Megan Massey 2.0 X 0 0 0 Garrett Mathieson 2.0 X 0 0 0 Herbert McCooey 2.0 X 0 0 0 Gail McGinn 2.0 X 0 0 0 Carolyn McGuire 2.0 X 0 0 0 Andrew McMaster Jr 5.0 X X 0 0 0 Allison Morrow 2.0 X 0 0 0 Kees Nordin 2.0 X 0 0 0 Dr Deborah Pilla 2.0 X 0 0 0 Thomas Poole 2.0 X 0 0 0 Daniel Rosensweig 2.0 X 0 0 0 John Ross 2.0 X 0 0 0 Adele Schlotzhauer 2.0 X 0 0 0 Rt Rev Prince Singh 2.0 X 0 0 0 Craig Stevens 2.0 X 0 0 0 Craig Stine 2.0 X 0 0 0 Dr Richard Wasserman 2.0 X 0 0 0 Anita Weeks 2.0 X 0 0 0 Christopher Welles 2.0 X 0 0 0 William Whitaker Jr 2.0 X 0 0 0 Beth Yingling 4.0 X 0 0 0 Susan Yolen 2.0 X 0 0 0 Maureen Zupan 5.0 X X 0 0 0 DAVID H DEMING 5.0 X X DANIEL ACCORDINO 2.0 X LANGDON COOK 2.0 X RICHARD MILLER JR 2.0 X JANE F NAPIER 2.0 X JAMES C SPIRA 2.0 X JEREMIAH BOOREAM-PHELPS 2.0 X CAROLINE G DOSKY 2.0 X DR ROBERT H GILMAN 2.0 X SUZANNE MCCULLAGH 2.0 X 0 0 0 Peter Polinak 50.0 X 186994 0 19804 Patrick McGuire 50.0 X 132040 0 14677 Robert Murphy 50.0 X 232894 0 34900 Alfred Damiano 50.0 X 181746 0 74673 Robert FLOWERS 50.0 X 167522 0 38835 Robert O'Connor 50.0 X 156425 0 32397 1525670 0 314459 67 false true false John W Danforth Company 930 Old Dutch Road Victor NY 14564 General Contractor 1029322 Harter Secrest and Emery LLC 1600 Bausch and Lomb Place Rochester NY 14604 Legal 281303 Greco Painting 790 West Washington Street Geneva NY 14456 Painting Contractor 219282 New Future Associates LLC PO Box 454 Mendon NY 14506 RE Asset Management 202107 Colonial Consulting LLC 750 Third Avenue 20th Floor New York NY 10017 Invest. Consultant 194721 9 2932506 9883647 760019 12816153 Tuition and Fees 611600 99695121 99695121 Residence Halls 721310 11260774 11260774 Dining Services 722320 8694890 8694890 Bookstore 451211 2146402 2146402 Other Program Service Revenue 639496 639496 122436683 2981130 117522 2863608 0 0 18205 18577 -372 0 -372 -372 122211039 114918925 7292114 7292114 7292114 0 0 0 Summer Camps 439872 439872 Sport and Rec Center Memberships 57867 57867 497739 146023447 120290281 615261 12301752 0 41597251 41597251 0 0 1909830 370353 1063108 476369 51993 25996 25997 38310860 31427113 5392104 1491643 3003453 2462290 424053 117110 6710947 5374136 1035660 301151 3021241 2427603 459908 133730 0 313137 1386 311751 196718 196718 0 0 693048 693048 2895346 1194208 1564646 136492 138097 95755 41244 1098 4381057 2953219 1095911 331927 1702364 532935 1151107 18322 0 9992880 9833134 159746 2156704 1729990 293888 132826 0 234826 179205 47192 8429 1337762 1273549 64213 0 7667220 7299193 355739 12288 349594 17025 332569 Miscellaneous 2308291 108129 2058629 141533 Loss on debt reoffering 300857 300857 FOOD & FACILITIES CONTRACTS 11781669 11781669 141055145 120684139 17042091 3328915 X 0 0 23753353 23899520 6149716 8054247 1403793 2186775 0 0 0 0 2511991 2452155 554188 719010 2103087 2092317 239547061 103326548 138619343 136220513 68304245 89440653 102048184 101242853 0 0 0 0 95 0 345447995 366308043 8929848 8538157 1639377 1566510 2226854 2648182 57555028 56965428 0 0 0 0 2424000 2292000 0 0 13417165 11607198 86192272 83617475 X 95484821 103192957 45753114 58347063 118017788 121150548 259255723 282690568 345447995 366308043 X 4968302 16597916 1868627 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 990, PART IV, QUESTION IV THE COLLEGES DO NOT DIRECTLY ENGAGE IN LOBBYING ACTIVITY. HOWEVER, A PORTION OF THE DUES PAID TO PROFESSIONAL ORGANIZATIONS ARE DESIGNATED FOR LOBBYING BY THE ORGANIZATION. 161238813 2156185 26582267 2911395 4913256 364998 181787616 182833093 1839005 -14533394 2922603 4913580 1063708 161238813 165864735 3971002 20377111 3189919 5082330 -892494 182833093 140856221 7109814 17815689 3155991 4945000 -8184002 165864735 185083906 2322803 -38931685 3026888 4793512 -201597 140856221 0.14000 0.66000 0.20000 false false 3407792 3407792 155090068 56431022 98659046 13181967 4330508 8851459 46346339 30720757 15625582 21520895 11844261 9676634 136220513 Cash and cash equivalents 6810366 F Real estate 6677986 F Private equity 11899655 F Hedge funds 73882172 F Other 1972674 F 101242853 0 Refundable Advances from Government 1963838 Asset Retirement Obligations 2338835 Fair Value of Swap Agreement 7304525 11607198 X 122206823 16597916 -39728624 -23130708 145337531 693048 -7132 685916 146023447 98771979 18577 18577 98753402 693048 41608695 42301743 141055145 Schedule D, PART V, LINE 4 Endowment funds are long-term assets of the Colleges created either by donor gifts or by actions of the Board of Trustees. Their purpose is to generate, in perpetuity, operating revenue for specific activities or for the use of the Colleges. Endowment funds are invested under direction of the Board of Trustees to achieve maximum long-term total return with prudent concern for the preservation of investment capital. ASC 740 (FIN48) FOOTNOTE PART X, LINE 2 THE COLLEGES RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. THE COLLEGES BELIEVE IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. Part XI, Line 2d Financial Aid -$41,597,251 Change in fair value of swap agreement $1,868,627 TOTAL -$39,728,624 Part XI, Line 4b Rent Expense -$18,577 Loss on pledges $11,445 Total -$7,132 Part XII, Line 4b Financial Aid $41,597,251 Loss on pledges $11,444 Total $41,608,695 Part XII, Line 2d Rent Expense $18,577 true true true true true true true false false false false false false false false true false true Schedule E, LINE 3 Hobart and William Smith Colleges have publicized our racially nondiscriminatory policy in all our solicitations for students. Applicants are recruited through the aid of direct mail and electronic documents, general college publications freely accessible to the community, advertisements in regional and general interest publication and the colleges' website www.hws.edu. SCHEDULE E, LINE 6 Hobart and William Smith Colleges receive funds from the Federal Work Study program, federal supplemental Education Opportunity Grant program, Federal Pell Grant Program, federal Perkins Loan program, Federal Direct Loan program, New York State Tuition Assistance Program, New York State Bundy Aid, and New York State Higher Education Opportunity programs. Central America and the Caribbean Program Services Off campus study 66821 East Asia and the Pacific 3 Program Services Off campus study 513055 Europe (Including Iceland and Greenland) 2 Program Services Off campus study 2060960 Middle East and North Africa Program Services Off campus study 30091 Russia and the Newly Independent States Program Services Off campus study 10 South America 2 Program Services Off campus study 152994 South Asia 3 Program Services Off campus study 14339 Sub-Saharan Africa Program Services Off campus study 169246 Central America and the Caribbean Investments 51459000 East Asia and the Pacific Investments 5941000 Europe (Including Iceland and Greenland) Investments 11120000 Sub-Saharan Africa Investments 3444444 10 10 74971960 74971960 true false true true true true SCHEDULE F, PART I, LINE 3, COLUMN F EXPENDITURES ARE REPORTED USING THE ACCRUAL METHOD OF ACCOUNTING. INVESTMENTS ARE REPORTED AT THEIR FAIR MARKET VALUE. true Scholarships 1625 41597251 Schedule I, PART I, LINE 2 Hobart and William Smith Colleges offer grants to students on the basis of demonstrated financial need and/or academic achievement. Students and their families submit standardized application materials to the Office of Financial Aid, which oversees the process of awarding such grants. Eligibility criteria for the various grants is established by the Colleges. X X X true true X X X X X false false true false false false false false false Mark Gearan 437103 0 0 0 30946 0 25000 0 74173 0 567222 0 0 0 Peter Polinak 186290 0 0 0 704 0 18560 0 1244 0 206798 0 0 0 Robert Murphy 180814 0 50000 0 2080 0 18560 0 16340 0 267794 0 0 0 Alfred Damiano 181362 0 0 0 384 0 18817 0 55856 0 256419 0 0 0 Robert FLOWERS 167385 0 0 0 137 0 16389 0 22446 0 206357 0 0 0 Robert O'Connor 156291 0 0 0 134 0 16108 0 16289 0 188822 0 0 0 Schedule J, PART I, LINE 4C President Gearan participates in a frozen stock option arrangement where he may exercise the option to buy units in two specified mutual funds contained within the school endowment prior to July 1, 2016. The option price is $60,000 per fund. The value of this option increased by $54,695 during calendar year 2012. No payments to President Gearan have been made under this arrangement. SCHEDULE J, PART I, LINE 1A Housing Allowance or Residence for Personal Use: President Gearan is provided housing as a condition of his employment and for the convenience of the Colleges. Health or Social Club Dues or Initiation Fees: President Gearan received memberships to two social clubs for the purposes of meeting and entertainment of alumni and other guests of the Colleges. Personal Services: President Gearan is provided housekeeping services for his campus housing to maintain it for the Colleges' related uses and the convenience of the Colleges. A City of Geneva Industrial Development Agency Multi 161266095 372175BT5 2007-12-01 31250000 Capital projects false false false B City of Geneva Development Corp Revenue 162366095 37217PAP0 2012-06-28 26695000 Bond refunding false false false A 0 0 31250000 0 0 0 917917 357585 0 29974498 0 0 2011 false false true true B 0 0 29942818 0 0 0 628042 0 0 0 29314776 0 2013 true false true true A false false true true false 0 0.01993 0.01993 false false false false B false false true true false 0 0.00386 0.00386 false false false false A false false false true true true RBC Capital Markets 30. true false false 0 true true B false true false false false false 0 false 0 true true A true B true PART III, QUESTION 9 0 The organization does not have established written procedures to ensure that all nonqualified bonds or the issue are remediated in accordance with the requirements under Regulations section 1.141-12 and 1.145-2 but the Colleges do comply with the regulations. PART IV, QUESTION 2C 0 MAY 9, 2013 FOR THE PERIOD DECEMBER 12, 2007 THROUGH DECEMBER 1, 2012. Mary Herlihy-Gearan Spouse of President 51993 Employee at the Colleges false X 8 51400 Part II X 57 707544 FMV X 1 1075 Part II X DVD 1 0 Part II false true false SCHEDULE M, PART 1, LINE1 AND LINE 25 The Colleges did not record these contributions as revenue as the values were not readily determinable and they do not have a significant impact on the financial position of the Colleges. FORM 990, PART VI, SECTION A, LINE 11B A draft of the Form 990 is prepared by the Colleges' management in conjunction with the external audit and tax advisors and provided to a trustee representative from the Audit and Compliance and the Financial Affairs Committees of the Board of Trustees. The form is reviewed and corrections or changes are made as necessary. A final form 990 is then distributed to the full board before filing it with the IRS. FORM 990, PART VI, SECTION B, LINE 12C Annually, officers, trustees, and key employees are required to disclose in writing conflicts of interest or potential conflicts of interest on a disclosure statement. At this time a rigorous process of reviewing the disclosures is undertaken by the Assistant Secretary and Assistant Treasurer's office to ensure conflicts are timely dealt with if necessary. FORM 990, PART VI, SECTION B, LINE 15 The Executive Committee of the Board of Trustees (omitting the President for this purpose) is comprised of members without a conflict of interest. This committee reviews the compensation for the president. An annual process of accessing the president's performance and reviewing comparative compensation data is performed in order to recommend compensation changes. A motion to be approved by the full board is drafted by the executive committee after the review process. The discussions of the committee and full board are contemporaneously documented in the board minutes. The Colleges meet the three requirements of the rebuttable presumption. FORM 990, PART VI, SECTION C, LINE 19 Hobart and William Smith Colleges make their governing documents, conflict of interest policy and financial statements available to the public upon request. FORM 990, PART XI, LINE 9 CHANGE IN INTEREST RATE SWAP $1,868,627 Charitable Remainder Trust (7) CRAT NY NA Trust Pooled Income Fund (1) Pooled Income NY N/A Trust Schedule R