2013-05-08T14:19:28-05:00 2012-06-30 161131146 BONADIO & CO LLP 115 SOLAR STREET SYRACUSE NY 13204 990 2011-07-01 150532276 WELLS COLLEGE WELL 3153643208 ROUTE 90 AURORA NY 13026 LISA MARSH RYERSON 3153643208 2013-05-08 1 BETTINA LIPPHARDT P00956232 3152147575 2013-05-08 2011 2016-02-25 16:41:14Z LISA MARSH RYERSON ROUTE 90 AURORA NY 13026 35757417 0 X WWW.WELLS.EDU X 1868 NY EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. THROUGH WELLS' ACADEMIC PROGRAM, RESIDENTIAL ATMOSPHERE, AND COMMUNITY ACTIVITIES, STUDENTS LEARN AND PRACTICE THE IDEALS OF THE LIBERAL ARTS. THE WELLS EXPERIENCE PREPARES STUDENTS TO APPRECIATE COMPLEXITY AND DIFFERENCE, TO EMBRACE NEW WAYS OF KNOWING, TO BE CREATIVE, AND TO RESPOND ETHICALLY TO THE INTERDEPENDENT WORLDS TO WHICH THEY BELONG. COMMITTED TO EXCELLENCE IN ALL AREAS OF ITS REACH, WELLS COLLEGE EQUIPS STUDENTS FOR LIFELONG LEARNING AND FOR SHARING THE PRIVILEGES OF EDUCATION WITH OTHERS. 19 18 682 20 58975 -6997 7870841 3890285 23237306 22199705 3947984 480182 493185 114747 35549316 26684919 7609380 8442935 0 0 9801323 10592266 0 0 1047193 12929416 11008369 30340119 30043570 5209197 -3358651 66555922 62749812 2919351 3791516 63636571 58958296 THE MISSION OF WELLS COLLEGE IS TO EDUCATE STUDENTS TO THINK CRITICALLY, REASON WISELY, AND ACT HUMANELY AS THEY CULTIVATE MEANINGFUL LIVES. 0 0 24145293 8442935 24145293 HIGHER EDUCATION - INSTRUCTIONAL COSTS INCLUDING SALARY AND BENEFITS FOR FACULTY AND EXPENSES ASSOCIATED WITH MAINTAINING EDUCATIONAL DEPARTMENTS. ALL PROGRAM EXPENSES ARE INCURRED TO FURTHER THE EDUCATION OF THE STUDENTS.(475 AVERAGE STUDENT FTES) 24145293 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 80 0 1 682 1 1 1 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WALTER C NEWCOMB 3153643208 ROUTE 90 AURORA NY 13026 STANLEY KOTT 1.00 X X 0 0 0 ARTHUR BELLINZONI 1.00 X 0 0 0 CARRIE BOLTON 1.00 X X 0 0 0 MARIE CARROLL 1.00 X 0 0 0 SARAH CHASE 1.00 X X 0 0 0 FIONA FEIN 1.00 X 0 0 0 PAMELA EDGERTON FERGUSON 1.00 X 0 0 0 DANIEL FESSENDEN 1.00 X 0 0 0 SARAH JANKOWSKI 1.00 X 0 0 0 DUNCAN LAWRENCE 1.00 X 0 0 0 ALAN MARCHISOTTO 1.00 X 0 0 0 LAURA MASSE 1.00 X 0 0 0 AMY CERAND MCNAUGHTON 1.00 X 0 0 0 HON RENEE FORGENSI MINARIK 1.00 X 0 0 0 JOHN ANDREW NOEL JR 1.00 X 0 0 0 LISA MARSH RYERSON 40.00 X X 224064 0 47054 GEORGE SLOCUM 1.00 X 0 0 0 STEPHEN ZABRISKIE 1.00 X 0 0 0 LESLIE MILLER-BERNAL 40.00 X 155000 0 10710 MICHAL MCGREEVEY 40.00 X 120227 0 25248 MEREDITH VANDUYNE 40.00 X 65700 0 13798 WALTER C NEWCOMB 40.00 X 146667 0 27133 CINDY SPEAKER 40.00 X 104256 0 21893 815914 0 145836 5 0 1 0 BOND SCHOENECK & KING PLLC ONE LINCOLN CENTER SYRACUSE NY 13202 LEGAL SERVICES 208673 1 195957 3694328 3890285 TUITION & FEES 611600 14842678 14842678 AUXILLIARY ENTERPRISES 611710 7357027 7298052 58975 22199705 433124 433124 9119556 9072498 47058 47058 47058 OTHER REVENUE 611600 114747 114747 114747 26684919 22255477 58975 480182 8442935 8442935 965417 965417 8179346 6144537 1549093 485716 95081 71311 18065 5705 610228 457671 115943 36614 742194 556646 141017 44531 126521 126521 81500 81500 166035 166035 778857 461293 163479 154085 541689 440054 32114 69521 1022397 642066 265080 115251 427578 122111 304671 796 1740658 1527270 158489 54899 490479 356337 97361 36781 107304 96237 8287 2780 52822 52822 1213375 1213375 267651 190516 70466 6669 MEALS AND ENTERTAINMENT 1640550 1584781 52320 3449 STUDY ABROAD 998395 998395 STUDENT AND FACULTY SER 519022 506609 10026 2387 BOOKSTORE 202465 202465 631071 130684 472378 28009 30043570 24145293 4851084 1047193 5423489 461803 41026 40486 5259750 3162715 505171 666279 795982 858005 226731 184589 54694 72802 63371406 32794508 28622642 30576898 22174910 23393176 100000 100000 3351527 3233059 66555922 62749812 1121175 1074273 183016 198986 990000 1615160 1528257 2919351 3791516 X 22734416 17609846 2419868 2387398 38482287 38961052 63636571 58958296 66555922 62749812 X -3358651 -1319624 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38482287 597915 -56841 42309 38981052 34683322 4699001 32265 866301 66000 38482287 38832506 330241 315146 4419571 375000 34683322 38840747 305751 -313992 38832506 0.00000 1.00000 0 0 58969480 28783679 30185801 4401926 4010829 391097 0 30576898 FUNDS HELD IN TRUST BY OTHERS 600980 DUE FROM AND INVESTMENT IN SUBSIDIARY 2632079 3233059 DEFERRED GIVING 376510 PERKINS LOAN FUNDS 858007 ASSET RETIREMENT OBLIGATION 293740 1528257 26684919 30043570 -3358651 -413292 -906332 -1319624 -4678275 16756325 -413292 -906332 -1319624 18075949 166035 8442935 8608970 26684919 21434600 0 21434600 166035 8442935 8608970 30043570 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S PRIMARY INVESTMENT OBJECTIVE FOR THE ENDOWMENT ASSETS IS TO PROVIDE SUPPORT FOR THE COLLEGE'S MISSION OVER THE LONG TERM. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: WELLS COLLEGE IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES AS AN ORGANIZATION QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WELLS COLLEGE HAS ALSO BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION. FOR TAX-EXEMPT ENTITIES, THEIR TAX-EXEMPT STATUS ITSELF IS DEEMED TO BE AN UNCERTAINTY, SINCE EVENTS COULD POTENTIALLY OCCUR TO JEOPARDIZE THEIR TAX-EXEMPT STATUS. AS OF JUNE 30, 2012, THE COLLEGE DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE COLLEGE FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND NEW YORK STATE. THE COLLEGE IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS THROUGH 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: INVESTMENT IN AURORA INN INC. -860,819. CHANGE IN SPLIT INTEREST AGREEMENT -27,464. CHANGE IN VALUE OF FUNDS HELD BY OTHERS -18,049. TOTAL TO SCHEDULE D, PART XI, LINE 8: -906,332. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT IN AURORA INN, INC. -860,819. CHANGE IN SPLIT INTEREST AGREEMENT -27,464. CHANGE IN VALUE OF FUNDS HELD BY OTHERS -18,049. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 8,442,935. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 8,442,935. 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 IN STUDENT BROCHURES, EMPLOYEE HANDBOOK, ORIENTATION MATERIALS EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID AND GOVERNMENT GRANTS FOR RESEARCH AND DEVELOPMENT OF PROFESSORS IN THE EDUCATION FIELDS. 1 WELLS GRANT 482 8367257 SEOG GRANT 209 75678 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: APPLICATIONS ARE RECEIVED AND GRANTS ARE AWARDED FOR NEED BASED ELIGIBLE STUDENTS AND FOR ACADEMIC PERFORMANCE. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 LISA MARSH RYERSON 224064 0 0 0 0 0 5602 0 41452 0 271118 0 0 0 LESLIE MILLER-BERNAL 51000 0 0 0 104000 0 1275 0 9435 0 165710 0 0 0 WALTER C NEWCOMB 146667 0 0 0 0 0 0 0 27133 0 173800 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE PROVIDES A DRAFT COPY OF THE IRS FORM 990 TO THE CHAIR OF THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO COMPLETION AND FILING WITH THE INTERNAL REVENUE SERVICE. THE IRS FORM 990 IS ALSO POSTED ON THE TRUSTEE WEBSITE FOR REVIEW AND APPROVAL BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. STATEMENTS ARE REVIEWED ANNUALLY BY THE BOARD CHAIR AND THE PRESIDENT OF THE COLLEGE, AND THE COLLEGE'S BOARD OF TRUSTEES' SECRETARY WHO MONITORS AND ASSURES COMPLIANCE WITH INSTITUTIONAL POLICIES AND PRACTICES AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE STARTING SALARY AND BENEFITS PACKAGE FOR THE PRESIDENT IS DETERMINED BY THE EXECUTIVE COMMITTEE AND IS PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES PERFORMANCE GOALS AND OBJECTIVES WITH RESPECT TO COMPENSATION. IF, BASED ON THE EVALUATION AND BENCHMARK DATA COMPILED, A CONTRACT CHANGE IS RECOMMENDED, IT IS VOTED ON BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GRANTED UPON WRITTEN REQUEST OF AN INDIVIDUAL. ALL FORMS ARE AVAILABLE AT THE COLLEGE'S ADMINISTRATIVE OFFICES DURING NORMAL BUSINESS HOURS. A REPRESENTATIVE FROM THE COLLEGE WILL BE PRESENT AT ALL TIMES DURING THE REVIEW. UPON REQUEST, COPIES OF THE FORMS WILL BE PROVIDED. COPIES ARE ALSO AVAILABLE AT GUIDESTAR.ORG CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -413,292. INVESTMENT IN AURORA INN INC. -860,819. CHANGE IN SPLIT INTEREST AGREEMENT -27,464. CHANGE IN VALUE OF FUNDS HELD BY OTHERS -18,049. TOTAL TO FORM 990, PART XI, LINE 5: -1,319,624. SELECTION AND OVERSIGHT OF INDEPENDENT AUDITOR FORM 990 PART XII LINE 2C THE AUDIT COMMITTEE IS CHARGED WITH OVERSIGHT AND SELECTION OF INDEPENDENT AUDITORS. AURORA INN INC 391 MAIN STREET AURORA NY 13026 150500471 RESTAURANT/INN NY C -860819 3500296 1.00000 0 0 0 1 0 0 1 0 0 0 0 0 0 0 1 0 0 0 AURORA INN INC D 11936647 BORROWINGS REQUIRED FOR OPERATION AURORA INN INC O 127075 AMOUNT PAID ON AII'S BEHALF AURORA INN INC G 1226996 FEES RELATING TO DINING SERVICES