2013-05-15T12:25:08-07:00 2012-06-30 990 2011-07-01 410694747 CARLETON COLLEGE CARL 5072224000 One North College Street Northfield MN 55057 Frederick A Rogers 5072224171 2013-02-15 2011 2016-02-24 21:20:13Z Steven Poskanzer One North College Street Northfield MN 55057 171981550 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. 47 47 2965 5200 271814 -562209 39227643 19527129 99567815 103869409 20231811 18709072 4128326 3540600 163155595 145646210 29572953 30961482 0 0 66251277 68461903 0 0 4063320 50308784 52485848 146133014 151909233 17022581 -6263023 1020520263 1002749927 167410837 157705400 853109426 845044527 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 84248672 31961482 85440524 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. A Student-Faculty Ratio of 9:1 supports them with classroom, laboratory, off-campus study and research opportunities. Average class size is 18. 73% of the graduation class of 2011 participated in a study abroad program during their Carleton experience. (1962 students) 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 (1239 students) 17397267 0 17397267 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 (1733 students) 14481270 0 0 Student Services Programs: Programs designed to support the Carleton College student life experience including co-curricular and recreational opportunities (1962 students) 14885229 0 0 Academic Support programs enhance the Carleton liberal arts experience with library and information technology resources. (1962 Students) 14885229 0 0 131012438 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 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 433 0 2965 1 1 1 1 AS AU EI FR HK JA NL NZ SF SN SP SW SZ UK 1 1 1 0 0 1 1 0 0 0 X 47 47 0 0 0 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 Steven G Poskanzer 60 X X 389791 0 99815 Nina M Archabal 5 X 0 0 0 Mark W Banks 5 X 0 0 0 Carol A Barnett 5 X 0 0 0 Danielle Bart 5 X 0 0 0 Alan R Bauer 5 X 0 0 0 William C Craine 5 X 0 0 0 Beth B Davis 5 X 0 0 0 Nancy Pellowe Dennis 5 X 0 0 0 David M Diamond 5 X 0 0 0 Arnold W Donald 5 X 0 0 0 Jack W Eugster 5 X 0 0 0 William A Feldt 5 X 0 0 0 Don J Frost Jr 5 X 0 0 0 William R Gage 5 X 0 0 0 Maureen G Gupta 5 X 0 0 0 John Harris 5 X 0 0 0 Sara L Hays 5 X 0 0 0 Elise M Holschuh 5 X 0 0 0 James E Johnson 5 X 0 0 0 Martha H Kaemmer 5 X 0 0 0 Leslie B Kautz 5 X 0 0 0 Arthur Kowaloff 5 X 0 0 0 Richard B Kracum 5 X 0 0 0 Keith A Libbey 5 X 0 0 0 Marilyn M McCoy 5 X 0 0 0 William R McLaughlin 5 X 0 0 0 Robert W Nelson 5 X 0 0 0 Mark Noel 5 X 0 0 0 Gary T O'Brien 5 X 0 0 0 Diane Harrison Ogawa 5 X 0 0 0 Catherine J Pagila 5 X 0 0 0 Lawrence Perlman 5 X 0 0 0 Pamela Kiecker Royall 5 X 0 0 0 Jack W Schuler 5 X 0 0 0 Margaret Simms 5 X 0 0 0 Dave Smith 5 X 0 0 0 Gary L Sundem 5 X 0 0 0 Caesar F Sweitzer 5 X 0 0 0 Alan C Thiel 5 X 0 0 0 Elizabeth Pennie Thomas 5 X 0 0 0 Kirk Weidner 5 X 0 0 0 Wallace R Weitz 5 X 0 0 0 Justin B Wender 5 X 0 0 0 Bonnie M Wheaton 5 X 0 0 0 Mark R Williams 5 X 0 0 0 Sidney C Wolff 5 X 0 0 0 Frederick A Rogers 50 X 276915 0 46993 Donald A Hasseltine 50 X 85753 0 10534 Beverly Nagel 50 X 216161 0 28722 M H Wagner 40 X 180347 0 24621 Paul Thiboutot 40 X 161784 0 38142 Gayle McJunkin 40 X 173629 0 27122 Joe A Hargis II 40 X 168242 0 42183 Jason Matz 40 X 301124 0 24583 Andrew Christensen 40 X 187075 0 43807 Joel Weisberg 40 X 164934 0 35433 Seth N Greenberg 40 X 150719 0 16068 Steven K Spehn 40 X 148169 0 11336 Robert A Oden 0 X 305853 0 32980 2910496 0 482339 98 1 1 0 McGough Construction Co Inc 2737 Faiview Avenue North St Paul MN 551131372 Construction contractor 25114066 Bon Appetit 100 Hamilton Avenue Suite 400 Palo Alto CA 94301 Food Service 7264409 Terra General Contractors LLC 21025 Commerce Blvd Rogers MN 55374 General contractor 1021587 Diversified Energy Solutions 2626 Edgewater Drive Gary SD 57237 Engineering and project management 768492 Berwald Roofing Company Inc 2440 North Charles Street North Saint Paul MN 55109 Roofing contractor 752795 36 0 0 0 0 4119782 15407347 2610791 19527129 Comprehensive fee 611310 103869409 103869409 0 0 0 0 0 0 103869409 5891392 0 0 5891392 167 0 0 167 44081 0 0 44081 270509 0 484125 0 -213616 0 -213616 0 8568 -222184 37479609 159944 24619148 202892 12860461 -42948 12817513 0 0 12817513 0 1486511 1029175 457336 457336 0 0 Summer Academic Programs 611310 524607 524607 0 0 Wind Turbine 221000 111754 0 111754 0 Other Auxiliary Enterprises 900003 160316 160316 0 0 2456122 2304630 151492 0 3252799 145646210 107316298 271814 18530969 0 0 30961482 30961482 0 0 0 0 1877043 379400 1015825 481818 0 0 0 49662356 42385213 5385493 1891650 4497986 3720144 554777 223065 8961387 7408154 1156309 396924 3463131 2894875 405401 162855 1857329 1421802 357952 77575 136149 0 136149 0 87222 0 87222 0 0 0 0 0 0 0 2723115 0 2723115 0 0 0 0 0 90063 21765 68298 0 5033698 3945353 822033 266312 1996777 1260679 736098 0 0 0 0 0 5038839 4938204 100635 6795042 6309491 265785 219766 0 0 0 0 524070 431885 69567 22618 2853124 2776633 76491 0 0 0 0 0 9261231 8766913 494318 0 809974 376019 433955 0 Food Service 6598587 6598587 0 0 Off Campus Studies 5384740 5384740 0 0 Faculty and Staff Recruitment 328045 0 328045 0 Membership Fees 276535 0 276535 0 2691308 1031099 1339472 320737 151909233 131012438 16833475 4063320 96742482 75887861 33034539 20776191 1773499 1514335 8276396 8054826 788959 819471 1896202 2130633 322364085 135933623 171804859 186430462 261309540 248458967 425466325 448711588 19427462 9965593 1020520263 1002749927 18173026 12051671 5355614 5378790 4858460 4336928 110891662 108424821 28132075 27513190 167410837 157705400 X 314688013 340966332 359613387 323085978 178808026 180992217 853109426 845044527 1020520263 1002749927 X -6263023 -1801876 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 0 1 0 0 1 0 1 350 0 350 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. 151581 144285 0 0 X X X 0 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 0.32 0.26 0.42 1 0 0 3995531 3995531 0 232845120 71487539 161357581 0 0 0 0 0 82760722 64446084 18314638 0 2762712 0 2762712 186430462 0 0 Private Equity 134792031 F Hedge Funds 197258485 F Real Assets 63673740 F Planned Gift Agreement and Other 52987332 F 448711588 0 Annuities Payable 22064977 Asset Retirement Obligation 2523734 Fair Value of Interest Rate SWAP 2924479 27513190 145646210 151909233 -6263023 -4129579 0 2723115 0 -395411 -1801875 -8064898 110159737 -4129579 0 0 -32870193 -36999772 147159509 0 -1513299 -1513299 145646210 118224636 0 0 0 0 0 118224636 2723115 30961482 33684597 151909233 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 of the College. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College has adopted FASB Interpretation NO. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, an interpretation of FAS No. 109, Accounting for Income Taxes. No adjustments to the financial statements were required as a result of the implementation of FIN 48. The College has no current obligation for unrelated business income tax. The College's federal and state returns are potentially open for examinations for the years 2008-2011. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Net Change in Annuity & Life Income Funds -$1,404,431, Unrealized Loss on Interest Rate SWAP -$504,280, Real estate rental expenses $484,125, Bookstore Cost of Goods Sold $1,029,175 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Net Change in Annuity & Life Income Funds -$1,404,431; scholarships -$30,961,482; unrealized loss on interest rate SWAP -$504,280 SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Rental Expenses $484,125; Bookstore Cost of Goods Sold $1,029,174 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Scholarships $30,961,482 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. East Asia and the Pacific 0 0 Program Services Coastal Marine Ecology in Australia 393267 South America 0 0 Program Services Society, Culture and Language in Peru 322995 Europe (including Iceland and Greenland) 0 0 Program Services Geology in New Zealand 286838 Europe (including Iceland and Greenland) 0 0 Program Services Economics in Cambridge 257877 Europe (including Iceland and Greenland) 0 0 Program Services Irish Literature and Culture in Ireland 245859 Europe (including Iceland and Greenland) 0 0 Program Services French Studies in Paris 232777 East Asia and the Pacific 0 0 Program Services Japanese Linguistics and Culture in Kobe, Japan 218874 Europe (including Iceland and Greenland) 0 0 Program Services Spanish Studies in Madrid 217850 Europe (including Iceland and Greenland) 0 0 Program Services English Theater and Literature in London 215342 Sub-Saharan Africa 0 0 Program Services Francophone Studies in Mali 176463 Central America and the Caribbean 0 0 Program Services Social and Cultural Research in Guatemala 167509 Europe (including Iceland and Greenland) 0 0 Program Services German Language and Literature in Berlin 146092 Europe (including Iceland and Greenland) 0 0 Program Services Russian Language and Literature in Moscow 141612 0 0 3023355 1 0 0 0 1 0 1 Student Scholarships 1239 30961482 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 0 0 0 0 0 0 0 0 0 Steven G Poskanzer 387657 0 0 0 2134 0 24500 0 75315 0 489606 0 0 0 Frederick A Rogers 244744 0 0 0 32171 0 24500 0 22493 0 323908 0 0 0 Donald A Hasseltine 79264 0 0 0 6489 0 8279 0 2255 0 96287 0 0 0 Beverly Nagel 214686 0 0 0 1475 0 21614 0 7108 0 244883 0 0 0 M H Wagner 179264 0 0 0 1083 0 17877 0 6744 0 204968 0 0 0 Paul Thiboutot 161375 0 0 0 409 0 16463 0 21679 0 199926 0 0 0 Gayle McJunkin 172422 0 0 0 1207 0 16466 0 10656 0 200751 0 0 0 Joe A Hargis II 166991 0 0 0 1251 0 16568 0 25615 0 210425 0 0 0 Jason Matz 293773 0 0 0 7351 0 24500 0 83 0 325707 0 0 0 Andrew Christensen 186724 0 0 0 351 0 19500 0 24307 0 230882 0 0 0 Joel Weisberg 164487 0 0 0 447 0 13883 0 21550 0 200367 0 0 0 Seth N Greenberg 149651 0 0 0 1068 0 14133 0 1935 0 166787 0 0 0 Steven K Spehn 147332 0 0 0 837 0 11042 0 294 0 159505 0 0 0 Robert A Oden 288387 0 0 0 17466 0 24500 0 8480 0 338833 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a President Poskanzer received the following non taxable benefits: residence on campus with the fair rental value of $49,594 per year; maid/cleaning for personal portion of residence of $5,520. Vice President Rogers received taxable income of $20,540 for housing. Vice President Hasseltine received taxable income of $2,600 for housing. 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 16 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 the 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 2012. Minnesota Higher Education Facilities Authority Series 6D 410988525 60416HENO 2005-04-13 31460000 Retire Series 3L1 and Series 4N 1 0 0 Minnesota Higher Education Facilities Authority Series 6T 410988525 60416HNH3 2008-12-04 19294728 Cassat and Memorial Hall construction 0 0 0 Minnesota Higher Education Facilities Authority Series 7D 410988525 60416HRZ9 2010-06-29 31962105 Weitz Center for Creativity rennovation and costruction 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 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 1 1 1 Morgan Stanley Capital Services LLC 2022 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 1 75000 Appraised value X 42285 Appraised value X 238 440645295 Market value X 1 2400000 Appraised value X Jewerly 1 27000 Appraised value X Volunteer expense 303 66506 Actual 5 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, broker for publicly traded securities, and a real estate agent for representation during sale of real estate contributions, as needed. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Management presented the 2011 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 2011 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 reviewed and determined annually by the Executive Committee of the Board of Trustees. The committee review includes comparative data from 16 of the College's peer institutions, as well as various salary surveys. In addition, the committee periodically uses a consulting firm to conduct an independent review of the President's compensation package. The Executive Committee also reviews 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, Chief Investment Officer, and Director of Private Markets. Their review includes comparative data from 16 of the College's peer institutions, as well as various salary surveys. 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 2012.. 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_L05 Form 990, Part XI, Line 5 Net Realized Loss -$4129579; Investment Expenses $2,723,115; Net Change in Annuity & Life Income Funds -$1,404,431; Unrealized Loss on Interest Rate SWAP -$504,280; Rental Expenses $484,125; Bookstore Cost of Goods Sold $1,029,175; rounding $1 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 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 May 15, 2013.