2013-05-15T11:03:45-07:00 2012-06-30 990 2011-07-01 236002304 CORPORATION OF HAVERFORD COLLEGE CORP 6108961248 370 Lancaster Avenue Haverford PA 190411392 Michael Gavanus 6108961249 2013-05-15 2011 2016-02-24 21:20:13Z HAVERFORD COLLEGE The Corporation of Haverford College 370 Lancaster Avenue Haverford PA 19041 149266954 0 X www.haverford.edu X 1833 PA Higher Education. Haverford College is committed to providing a liberal arts education in the broadest sense. 33 31 2007 1508 567181 -312043 17285215 27799243 66204490 69613714 48757963 19349485 87371 38623 132335039 116801065 19965895 21687247 0 0 47762714 50372626 63494 32975 5449523 35041905 36760726 102834008 108853574 29501031 7947491 598489137 587177772 150953800 157451113 447535337 429726659 Haverford College is committed to providing a liberal arts education in the broadest sense. This education, based on a rich academic curriculum at its core, is distinguished by a commitment to excellence and a concern for individual growth. Haverford has chosen to remain small and to foster close student/faculty relationships to achieve these objectives. The College's rigorous academic program is flexible in form and content to meet the needs of individual students, and rests on the assumption that the able students who come here will use their capacities fully. Haverford's faculty is noted for its strength in both scholarship and teaching, and its members expect to transmit to students their enthusiasm and high standards. The faculty members are teaching at an undergraduate college of arts and sciences by choice, and they expect to learn, as well as to teach, in this close relationship with undergraduates. 0 0 68881913 0 53311177 Instruction (undergraduate liberal arts); academic support and research; 1254 student FTE; 148.0 faculty FTE; 307 degrees conferred in 11/12. The majority of research awards are in the natural sciences. Federal funds support 27 grants including 8 ARRA grants, PA state funds support 2 grants, and 8 grants are supported by private foundations. Financial aid - 594 students received Haverford College grants totaling $20,316,931; 52 students received FSEOG grants totaling $152,577, and 166 students received $602,597 for internships awards. 12113418 0 366009 Student services - Dean, Registrar, Counseling, Career Development, Health Sevices, Athletics,Disability Services, Security and miscellaneous services. 12936391 0 15936528 Auxiliary enterprises (dorms, dining center, faculty housing, conference program). The dorms housed 1165 students; 886 were on the board plan. The College provided 69 spaces for rent to faculty to foster educational interaction with students. 40000 40000 0 Higher Education: Grants paid from donor advised funds to other 501(c)(3) charities. (5 charities) 40000 40000 0 93971722 1 1 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 1 0 1 0 1 1 0 0 1 0 0 0 0 0 1 2038 0 1 2007 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 33 31 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AZ CA CO DC HI KY MA MD MI NH NJ NY OH OK OR PA WA WI X X Michael Gavanus 6108961248 370 Lancaster Ave Haverford PA 190411392 James L Boyer 2 X 0 0 0 Christopher E Dunne 2 X 0 0 0 Stephen C Curwood 2 X 0 0 0 Jonathan Wood Evans 2 X 0 0 0 James W Friedman 2 X 0 0 0 Michael B Kim 2 X 0 0 0 Catherine P Koshland 2 X 0 0 0 Howard W Lutnick 2 X 0 0 0 Irene E McHenry 2 X 0 0 0 John M Morse 2 X 0 0 0 Christopher K Norton 2 X 0 0 0 Christopher T Gant 2 X 0 0 0 Sheila K Sachs 2 X 0 0 0 Allan Richard White III 2 X 0 0 0 Peter Abramenko 2 X 0 0 0 Steven M Jaharis 2 X 0 0 0 Garry W Jenkins 2 X 0 0 0 Hunter R Rawlings III 2 X 0 0 0 Roger B Kafker 2 X 0 0 0 Jacqueline V Brady 2 X 0 0 0 Dana Shanler Ladden 2 X 0 0 0 Elizabeth Enloe 2 X 0 0 0 Anjan K Chatterjee 2 X 0 0 0 Ann V Satterwaite 2 X 0 0 0 Elon E Spar 2 X 0 0 0 Charles G Beever 2 X 0 0 0 Jennifer C Boal 2 X 0 0 0 Joanne Creighton 60 X X 124616 0 51546 Seth P Bernstein 2 X 0 0 0 William J Marsden 2 X 0 0 0 Paul G Zoidis II 2 X 0 0 0 Stephen G Emerson 60 X X 393452 0 125311 Timur F Galen 2 X 0 0 0 G Richard Wynn 60 X 244800 0 42907 Linda Bell 60 X 198241 0 59644 Jess Lord 60 X 132535 0 31863 Michael Kiefer 60 X 257217 0 42812 Martha Denney 60 X 144592 0 28657 Joseph Spadaro 60 X 177458 0 38076 Michael H Casel 60 X X 185000 0 38033 Kimberly Benston 60 X 169650 0 37157 Jerry Gollub 60 X 212549 0 25660 Linda Gerstein 60 X 149906 0 24754 Curtis Greene 60 X 167633 0 27740 2557649 0 574160 66 0 1 0 Tod Williams Billie Tsien Architects LLP 222 Central Park South New York NY 10019 Architect 641092 W S Cumby Inc 938 Lincoln Avenue Springfield PA 19064 Construction 12277168 Navigator Management Consultant P O Box 183074 LB-14 Columbus OH 432183074 Software implementaion consultant 530603 Clark Companies P O Box 427 41155 State Route 10 Delhi NY 13753 Construction 369640 Steven Holl Architects 450 W 31st Street No 11 New York NY 10001 Architects consultants 255324 23 0 0 0 0 1593508 26205735 3316679 27799243 Tuition and fees 611310 52823019 52823019 0 0 Auxiliary enterprises 900099 15936528 14939620 572694 424214 854167 625045 0 229122 69613714 5257740 0 -5513 5263253 4252 4252 0 0 0 0 0 0 25981 0 0 0 25981 0 25981 0 0 25981 28395015 16892321 25044746 6155097 3350269 10737224 14087493 0 0 14087493 0 1271434 1266046 5388 0 0 5388 Quaker Library 611310 4650 4650 0 0 Summer camp 900099 2579 2579 0 0 College Arboretum 900099 25 25 0 0 0 0 0 0 7254 116801065 68399190 567181 20035451 40000 40000 21072105 21072105 575142 575142 0 0 2349003 1305392 622463 421148 0 0 0 0 35381728 26899906 6335900 2145922 3267527 2450645 588155 228727 6641329 4980997 1195439 464893 2733039 2049779 491947 191313 0 0 0 0 325473 0 311779 13694 195243 0 195243 0 0 0 32975 32975 1970141 0 1970141 0 6611602 4120636 2260438 230528 97427 43558 53869 0 2603506 1503124 838376 262006 1069453 735464 253958 80031 0 0 0 0 2892888 2208681 554285 129922 1906945 1319847 345550 241548 0 0 0 0 5147269 4310345 552370 284554 7091296 6591642 329772 169882 242852 206424 24285 12143 Minor equipment 1338420 1045435 285765 7220 Study away program expenses 2111083 2111083 0 0 Food Services 1877217 1409179 373979 94059 Dues,subscriptions and memeberships 1259735 1152364 95203 12168 20176 7839974 -8246588 426790 108853574 93971722 9432329 5449523 0 0 35101529 29850341 15675863 14203505 1537328 1133434 799622 768025 0 0 0 0 381144 449608 334512 216972 241585718 105491883 122155911 136093835 83723892 117903069 320970372 280550548 2070121 1997361 0 0 15738843 4011074 598489137 587177772 4461442 5931863 3029690 3467909 123649549 123461129 0 0 0 0 19813119 24590212 150953800 157451113 X 155853095 140449350 121250805 112755261 170431437 176522048 447535337 429726659 598489137 587177772 X 7947491 -25756169 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1695000 0 287128 15000 1435760 302478 1 1 105800 4449410 0 0 X X X 0 1 496352 494713 496352 494713 0 402729669 8035649 510412 4057851 16970936 2800868 387446075 355500298 6865272 61484887 3708640 14633057 2779091 402729669 336085820 5451420 33178648 3402225 14473951 1339414 355500298 521307851 10637065 -170364959 4977583 19515424 1001130 336085820 0.34 0.44 0.22 0 0 0 4107987 4107987 0 200476885 81468724 119008161 0 0 0 0 0 22022355 17710122 4312233 0 14978491 6313037 8665454 136093835 Common Trust & similar funds 108488031 F Hedge Funds 27946629 F Venture capital and Private equity funds 100114861 F Real estate funds 43786898 F Miscellaneous funds 214129 F 280550548 0 Interest rate swaption liability 13790832 Planned giving liabilities 8818521 Government advances for student loans 747542 Refundable advance 562920 Asbestos ARO liability 644971 Accrued post retirement liabilities 25426 24590212 116801065 108853574 7947491 -26455901 0 1970141 0 -1249345 -25735105 -17787614 69627887 0 0 0 -26128528 -26128528 95756415 0 21044650 21044650 116801065 87436572 0 0 0 -19406861 -19406861 106843433 1970141 40000 2010141 108853574 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Special collections of art and historical treasures serve to advance scholarship and to further teaching, research and service. Special collections range from Quaker collections to College archives to rare manuscripts to fine art assets. The Quaker collection consists of manuscripts, as well as numerous photographs, artworks, artifacts, furniture and films. The College archives include records, publications and artifacts produced by offices, committees and student groups. Rare book and manuscript collections strengths include American and English literature, history and politics. Today, the collection of fine art encompasses three areas: material in support of the College curricula, material that documents the College's history and material that documents the history of Quakerism. SchD_P04_S00_L01b Schedule D, Part IV, Line 1b The College is trustee of the William Maul Measey Trust. The College is entitled to 60% of the gross income of the Trust and includes 60% of the Trust assests in its financial statements and Form 990. The remaining 40% of the gross income is distributed to certain secondary schools for student financial aid. The 40% of Trust principal at June 30, 2012 was $23,946,000. The 40% of Trust income distributable to the schools is reported in Lines 1c-f. The secondary schools that currently receive trust income are George School, Westtown School, Scattergood Friends School and Olney Friends School. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College spends a prudent amount of its endowment annually to support the educational mission of the College in accordance with donor restrictions and internal designations. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College evaluated how uncertain tax positions taken or expected to be taken in a tax return should be recognized, measured, presented and disclosed in the financial statements. No adjustments to the financial statements were required as a result of the evaluation. The College will continue to monitor and evaluate its unrelated business income activity. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in contributions receivable $(1,263,145); Fixed assets retirements $(26,200); Grants paid from donor advised funds $40,000. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Unrealized losses on investments $(26,455,901); Change in contributions receivable $(1,284,216); Indirect cost recovery $317,743; Bookstore expenditures $1,266,046; Internal Bookstore rent $54,000; Fixed assets retirements $(26,200). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Financial aid $21,044,650 SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Financial aid $(21,044,650); Indirect cost recovery $317,743; Bookstore expenditures $1,266,046;Internal Bookstore rent $54,000 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Grants paid from donor advised funds to 501(c)3 organizations $40,000 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 Such a policy is published in our catalog and other admissions literature. Also, the policy is published in newspapers or on the internet when advertising for employment. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency: FWS $115,994; FSEOG $124,079; PELL $759,990; PHEAA-FWS match $16,411; PHEAA- IAG $24,024. 1 Middle East and North Africa Program Services Scholarships 53112 Sub-Saharan Africa Program Services Scholarships 142302 South Asia Program Services Scholarships 151482 Europe (including Iceland and Greenland) Program Services Scholarships 86394 East Asia and the Pacific Program Services Scholarships 189606 Europe (including Iceland and Greenland) Program Services Study abroad program fees 698498 East Asia and the Pacific Program Services Study abroad program fees 58717 Europe (including Iceland and Greenland) Fundraising Five Haverford College employees attended the International Council in London and Frankfurt. The primary purpose was to foster greater awareness of Haverford College internationally and promote greater international emphasis in academic and outreach areas of the College. 21981 Europe (including Iceland and Greenland) Fundraising Employee travel to meet with alumni who can help further long-term and mutually enriching relationships 2854 Central America and the Caribbean Investments Endowment foreign passive investments 41394412 North America (including Canada and Mexico, but not the United States) Investments Endowment foreign passive investments 3227274 Europe (including Iceland and Greenland) Fundraising Employee travel to meet with alumni who can further long-term and mutually enriching relationships. 3553 0 0 46030185 Scholarships to foreign students Middle East and North Africa 1 53112 cash payment FMV Scholarships to foreign students Sub-Saharan Africa 3 142302 cash payment FMV Scholarships to foreign students South Asia 3 151482 cash payment FMV Scholarships to foreign students Europe (including Iceland and Greenland) 2 86394 cash payment FMV Scholarships to foreign students East Asia and the Pacific 4 189606 cash payment FMV 1 0 0 0 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 The procedures to monitor College scholarships (grant aid) awarded to nonresident aliens are the same procedures as scholarships awarded to citizens of the United States. Haverford College scholarships are based solely on need. The College does not have any grant based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must alo be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. X X X X X X 1 Plus Delta Partners 6965 El Camino Real Stuite 105-488 Carlsbad CA 92009 Campaign consultant 0 0 32975 -32975 0 32975 -32975 AK AL AR AZ CA CO CT DC FL GA IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV SchG_P01_S00_L02b Schedule G, Part I, Line 2b Plus Delta Partners provided professional fundraising consulting services for and on behalf of the College. They did not engage in any direct solicitations of contributions for and on behalf of the College and therfore have no custody or control on any College contributions. 1 Germantown Friends School 31 West Coulter Street Philadephia PA 19144 050630018 501(c)3 6000 0 FMV General support pursuant to the terms of a donor advised fund agreement. Horace Mann School 231 West 245th Street Bronx NY 10471 131740455 501(c)3 25000 0 FMV General support pursuant to the terms of a donor advised fund agreement. 2 0 Scholarships for Haverford College students 581 20316931 0 Cost FSEOG grants for Haverford College students 52 152577 0 Cost Internships for Haverford College students 166 602597 0 Cost SchI_P01_S00_L02 Schedule I, Part I, Line 2 Haverford College scholarships are based solely on need. Haverford does not have any grant aid based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. Supplemental Education Opportunity grants (FSEOG) are awarded based on family contribution. Eligibility is determined by the FAFSA and the regulations determined by the U.S. Department of Education that students who receive Pell grants be provided FSEOG funds first. Other verification forms may be required if the student is selected including the Verification Statement, parent and student tax returns and non-tax filer statements. FSEOG awards are credited directly to the student's account for tuition, room, board and other billed charges. FSEOG awards are audited annually by the College's outside auditors in conjuction with the A133 federal funds audit. Student internships are awarded through an application and committee review process. The internship awards are paid directly to the student. This assistance enables the students to engage in unpaid internships in a variety of domestic and international locations. Some of the areas of studies include Humanities, Global Citizenship, Science and Entrepreneurship. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Joanne Creighton 124616 0 0 0 0 0 0 0 51546 0 176162 0 0 Michael Kiefer 257217 0 0 0 0 0 0 0 42812 0 300029 0 0 G Richard Wynn 244800 0 0 0 0 0 0 0 42907 0 287707 0 0 0 Linda Bell 198241 0 0 0 0 0 0 0 59644 0 257885 0 0 0 Joseph Spadaro 177458 0 0 0 0 0 0 0 38076 0 215534 0 0 0 Martha Denney 144592 0 0 0 0 0 0 0 28657 0 173249 0 0 0 Jess Lord 132535 0 0 0 0 0 0 0 31863 0 164398 0 0 0 Stephen G Emerson 393452 0 0 0 14350 0 0 0 125311 0 533113 0 0 0 Jerry Gollub 212549 0 0 0 0 0 0 0 25660 0 238209 0 0 0 Michael H Casel 185000 0 0 0 0 0 0 0 38033 0 223033 0 0 0 Kimberly Benston 169650 0 0 0 0 0 0 0 37157 0 206807 0 0 0 Curtis Greene 167633 0 0 0 0 0 0 0 27740 0 195373 0 0 0 Linda Gerstein 149906 0 0 0 0 0 0 0 24754 0 174660 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Travel for Companions: Joanne Creighton, Interim President, agreed in her employment contract to spousal travel. Haverford College will reimburse the Interim President for reasonable and customary travel expenses when her spouse travels with her on official College business. Travel expenses are reviewed for business purpose and reimbursed according to an accountable plan. Housing Allowance or Residence for Personal Use: Joanne Creighton, Interim President and Linda Bell, Provost, reside on Haverford College's campus free of rent. Martha Denney, Dean of the College, resides on the College's campus at a subsidized rent. Neither travel for companions nor residence for personal use represents taxable compensation to the listed individuals. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 President Emerson has an arrangement with the College, allowable under the IRS Code, that permits him to tax defer more of his earnings than the standard amount he would be allowed to do under the College's 403(b) plan. This additional tax deferral was done as a 457(f) Deferred Compensation Agreement. Delaware County Authority 231973437 246003LH8 2008-05-08 61050987 Cap improvements to College facilities and redemption 2003 0 0 0 Delaware County Authority 231973437 246003LX3 2010-04-29 44944290 New dorm and partial refund 2008 Bonds 0 0 0 Delaware County Authority 231973437 246003MG9 2010-11-15 45929465 Refund 2000 Bonds 0 0 0 31400945 0 61050987 0 0 0 651393 0 0 6725430 53674163 0 2009 1 0 1 1 690793 0 44944290 0 1533228 0 531618 0 0 12905223 29000000 974221 2012 1 0 1 1 715030 0 45929465 0 0 0 454538 0 24927 0 45450000 0 2011 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 Deutsche Bank 20 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 X Michael Keifer Home mortgage X 500000 438570 0 0 1 Joseph Spadaro X 320000 305852 0 0 1 Linda Bell Home renovation mortgage X 29757 23602 0 0 1 768024 Carol Solomon Spouse of officer and Faculty member 7199 To be used in the futherance of her faculty research through reimbursement of business expenses Carol Solomon Spouse of officer 65685 Employee compensation 0 Jenni Punt spouse of officer 121842 Employee compensation 0 X 4 60852 FMV X 22514 FMV X 83 3191736 FMV X Archival records 23 28072 FMV X Event materials 3 12764 Cost X Stationery and Gift card 21 741 Cost 1 0 1 0 F990_P01_S00_L05 Form 990, Part I, Line 5 The number of employees includes faculty, administration and staff, student and temporary summer employees. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Howard Lutnick, manager, had a business relationship with the another manager, Elon Spar. Seth Bernstein, manager, and Allan R White, manager, serve together on the Board of Directors of another company. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Corporation of Haverford College has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers for at least six consecutive years. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Corporation of Haverford College ("the Corporation") has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers ("the Board") for at least six consecutive years. The Corporation formally elects members of the Board, including those nominated by itself, by the Board and by the Alumni Association. The Corporation makes any amendments to the bylaws. The Corporation seeks by advice and example to strengthen and enrich Haverford's heritage as a Quaker educational institution. The Board has responsibility for all aspects of the operation and management of the College. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The College's Audit Committee reviewed the Form 990 before it was filed. The Form 990 was sent to all Board members before being filed, noting that it was reviewed and approved by the Audit Committee. The Form 990 will be available on the College's website. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each year a questionnaire is handed out and sent electronically to Board members, officers and key employees. The President's office tracks and ensures compliance with completing and submitting the conflict of interest questionnaire. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined after an annual review by the Board's Committee on Presidential Compensation and Review. The review along with private college executive compensation surveys help determine the President's salary. The President reports to the Board relating to the annual process for determining the compensation of other officers (VP Finance and Administration, VP Institutional Advancement, Provost, Dean of the Colleg, Chief Information Officer and Dean of Admissions.) The Committee on Presidential Compensation and Review reports on both of these procedures to the Board in executive session. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College's financial statements and conflict of interest policy are available to the general public through our website, Guidestar's website and upon request. Currently, the College does not publish our governing documents, however, these are available upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized losses $(26,455,901); Investment expenses $1,970,141; Change in contributions receivable $(1,263,145); Grants paid from donor advised fund $40,000; Fixed asset retirements $(26,200); Miscellaneous adjustment $(21,064). Haverford College Foundation (UK) Limited 19 Norcott Road London UK N16 7EJ Fundraising UK 0 0 The Corporation of Haverford College