2013-04-26T12:39:18-05:00 2012-06-30 042713795 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2011-07-01 042225850 COLLEGE OF OUR LADY OF THE ELMS COLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 BRIAN DOHERTY 4135942761 2013-04-10 1 RUDY M D'AGOSTINO P00962620 4135368510 2013-04-10 2011 2016-03-07 17:11:31Z BRIAN DOHERTY 291 SPRINGFIELD STREET CHICOPEE MA 01013 36288052 0 X WWW.ELMS.EDU X 1928 MA TO EDUCATE A DIVERSE GROUP OF WOMEN AND MEN IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. 25 23 760 186 87017 -106165 4317869 4155655 27759493 31428779 112233 173966 360538 529652 32550133 36288052 12641911 13825150 0 0 11495112 12339668 0 69826 813211 7536952 7976816 31673975 34211460 876158 2076592 29638860 28213914 13893608 10691626 15745252 17522288 X THE COLLEGE OF OUR LADY OF THE ELMS, A CATHOLIC COLLEGE, EDUCATES A DIVERSE GROUP OF WOMEN AND MEN IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. COMBINING A LIBERAL ARTS EDUCATION WITH PROFESSIONAL STUDIES, ELMS COLLEGE EMPOWERS STUDENTS TO EFFECT POSITIVE CHANGES IN THE COMMUNITY AND IN THE WORLD. AFFIRMING THE FOUNDING TRADITION OF THE SISTERS OF ST. JOSEPH, ELMS COLLEGE CHALLENGES STUDENTS TO EMBRACE CHANGE WITHOUT COMPROMISING PRINCIPLE, TO RESPOND CREATIVELY TO THE DEMANDS OF THEIR CHOSEN CAREERS, AND TO ADVOCATE FOR PEOPLE IN NEED. ELMS COLLEGE IS A COMMUNITY ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, AND RESPONSIVE TO CIVIC AND SOCIAL OBLIGATIONS. 0 0 25073703 13825150 27794658 THE COLLEGE IS DEVOTED TO EDUCATING MEN & WOMEN & HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. IN FY11/12, WE SERVED 1,804 FULL AND PART TIME STUDENTS. 1295287 3770562 AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. 2,121 PEOPLE COULD BE SERVICED. 26368990 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 0 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 62 0 1 760 1 1 1 0 0 0 0 0 0 0 0 0 X 25 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X BRIAN DOHERTY 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 X ANN M CALLAHAN 2.00 X X 0 0 0 LINDA KC MANSFIELD 2.00 X X 0 0 0 RICHARD BOURGEOIS 2.00 X 0 0 0 CAROLYN CONNELLY 2.00 X 0 0 0 KATHI DONAHUE 2.00 X 0 0 0 WILLIAM FRAIN 2.00 X 0 0 0 GINA M GOLASH 2.00 X 0 0 0 CATHERINE HOMROK SSJ 2.00 X 0 0 0 CAROLYN JACOBS 2.00 X 0 0 0 ATTY RICHARD J KOS 2.00 X 0 0 0 CYNTHIA LYONS 2.00 X 0 0 0 JOSEPH A MAROIS 2.00 X 0 0 0 WAYNE MCCARY 2.00 X 0 0 0 MARLENE M MUCHA SSJ 2.00 X 0 0 0 DAVID O'BRIEN 2.00 X 0 0 0 KATHLEEN RIORDAN 2.00 X 0 0 0 JOAN SCHNEIDER SSJ 2.00 X 0 0 0 PAUL M STELZER 2.00 X 0 0 0 ELLEN W FREYMAN ESQ 2.00 X 0 0 0 PATRICK CARPENTER 2.00 X 42809 0 2273 ANTHONY CIGNOLI 2.00 X 0 0 0 FRANCIS KIRLEY 2.00 X 0 0 0 GINNY MAITLAND SSJ 2.00 X 0 0 0 MAXYNE SCHNEIDER SSJ 2.00 X 0 0 0 KATHY TOBIN 2.00 X 0 0 0 MARY REAP IHM-SEE SCHEDULE O 35.00 X 0 0 33024 BRIAN DOHERTY 35.00 X 158429 0 9795 WALTER BREAU 35.00 X 130450 0 16378 KEVIN EDWARDS 35.00 X 129500 0 17496 461188 0 78966 3 0 1 0 ARAMARK CORPORATION PO BOX 33170 NEWARK NJ 07188 FOOD SERVICE 1499765 WESTERN BUILDERS 73 PLEASANT STREET PO BOX 587 GRANBY MA 01033 CONSTRUCTION COMPANY 1233334 HEALTH NEW ENGLAND PO BOX 415425 BOSTON MA 02241 HEALTH INSURANCE 1020506 MAROIS CONSTRUCTION 262 OLD LYMAN ROAD SOUTH HADLEY MA 01075 CONSTRUCTION COMPANY 256116 SISTERS SERVANT OF THE IMMACULATE HEART 2300 ADAMS AVE SCRANTON PA 18509 PURCHASED SERVICES 229231 10 2690238 1465417 108972 4155655 TUITION AND FEES 611310 27658217 27658217 ROOM, BOARD, BOOKS 611310 3770562 3770562 31428779 173966 173966 66127 0 66127 66127 4325 61802 OTHER INCOME 611310 186897 18069 1500 167328 WORK STUDY 611310 89211 89211 FITNESS CENTER:NONSTUD 713940 61247 61247 126170 29161 19945 77064 463525 36288052 31565220 87017 480160 13726294 13726294 98856 98856 223178 180369 42809 10179740 7409376 2367317 403047 372338 268582 84872 18884 825049 539252 238995 46802 739363 541450 166052 31861 43384 43384 81800 81800 69826 69826 47956 47956 193521 28924 164597 275063 120846 154217 1870031 1446138 412930 10963 48000 48000 648227 51913 596314 187149 145544 29380 12225 292944 169287 86116 37541 362211 224571 123152 14488 1401972 869221 476672 56079 161844 161844 EQUIPMENT RENTAL & MAIN 1023024 123319 873156 26549 PRINTING & PUBLICATIONS 301061 243206 48537 9318 WORK STUDY EXPENSE 282742 131970 139645 11127 UNEMPLOYMENT/ TEMP HELP 183206 183206 572681 230241 320748 21692 34211460 26368990 7029259 813211 3699074 1751180 1548318 1429561 592074 436098 989071 962463 301845 286003 35060501 20530762 13415011 14529739 6311606 6164369 2502081 2392457 279780 262044 29638860 28213914 2117192 1756662 1927568 1970745 4950000 4885478 243273 308981 3851919 937552 803656 832208 13893608 10691626 X 4826226 6564552 3408243 3400975 7510783 7556761 15745252 17522288 29638860 28213914 X 2076592 -299556 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48000 X X 0 0 1 8596639 94696 -143648 110555 52767 8384365 7061718 182541 1386673 34293 8596639 5865540 565711 672326 41859 7061718 6995525 270332 -1379596 20721 5865540 0.05300 0.90000 0.04700 1 0 144370 144370 20699665 10020372 10679293 9412603 7423716 1988887 4803863 3086674 1717189 14529739 FIXED INCOME INVESTMENTS 544626 F BENEFICIAL INTEREST IN PERPETUAL TRUSTS 466144 F LIMITED PARTNERSHIPS 1381687 F 2392457 GRANTS REFUNDABLE 660740 ANNUITY OBLIGATIONS 130036 CAPITAL LEASES 41432 832208 36288052 34211460 2076592 -270396 -29160 -299556 1777036 22163346 -270396 -29160 -299556 22462902 13825150 13825150 36288052 20386310 0 20386310 13825150 13825150 34211460 PART III, LINE 4: DESCRIPTION OF COLLECTION: 33" X 20" WATERCOLOR BY ENRICO TARENGHI WITH VALUE OF $14,000 AND 40 ETCHINGS BY SEARS GALLAGHER WITH TOTAL VALUE OF $34,000. THE ARTWORK PROVIDES AN EXAMPLE OF HOLISTIC ENRICHMENT FOR THE STUDENTS AND PROMOTES THE CONCEPTS SET FORTH IN A LIBERAL ARTS COLLEGE. PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT FUNDS PLACED ON DEPOSIT BY EACH CLASS AND OTHER GROUPS WITH THE COLLEGE AS CUSTODIAN. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE HELD FOR STUDENT SCHOLARSHIPS, CONVOCATION AWARDS, AND TO SUPPORT LIBRARY AND EDUCATION DEPARTMENT OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET CHANGE ON INVESTMENTS HELD IN TRUST BY OTHERS -29,160. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -29,160. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND AWARDS 13,825,150. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 13,825,150. 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 THE SCHOOL'S STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL APPROPRIATE SCHOOL PUBLICATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 6A: THE COLLEGE RECEIVES GOVERNMENT FINANCIAL ASSISTANCE TO PASS ON TO THE STUDENTS AS SCHOLARSHIPS. 1 SOUTH AMERICA 0 0 SCHOLARSHIPS EDUCATIONAL ASSISSTANCE 13000 EUROPE 0 0 SCHOLARSHIPS EDUCATIONAL ASSISSTANCE 12644 EAST ASIA AND THE PACIFIC 0 0 SCHOLARSHIPS EDUCATIONAL ASSISSTANCE 48812 AFRICA 0 0 SCHOLARSHIPS EDUCATIONAL ASSISSTANCE 24400 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1381687 0 0 0 0 0 0 1480543 0 1480543 SCHOLARSHIP SOUTH AMERICA 1 13000 CREDIT TO TUITION BALANCE SCHOLARSHIP EUROPE 2 12644 CREDIT TO TUITION BALANCE SCHOLARSHIP EAST ASIA AND THE PACIFIC 3 48812 CREDIT TO TUITION BALANCE SCHOLARSHIP AFRICA 4 24400 CREDIT TO TUITION BALANCE 0 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: DIRECT PAYMENT OF TUITION X X X X X 1 STALEYROBESON 12 ROOSEVELT AVE MYSTIC CT 06355 PROFESSIONAL FUNDRAISING SERVICES 0 0 69826 -69826 69826 -69826 MA 1 SCHOLARSHIPS AND GRANTS 3223 9926898 FAMILY RATE/SIBLING DISCOUNT 22 31408 TRANSFER SCHOOL 146 399500 ELMS DEANERY AWARDS 54 356700 FEDERAL SEOG 184 20400 ELMS PHI 40 184000 GOVERNMENTAL APPROPRIATIONS 897 2690238 SCHOLARSHIPS TO PUERTO RICO STUDENTS 10 117150 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSSFA) APPLICATIONS. THEY ARE MONITORED IN ACCORDANCE WITH FEDERAL REGULATIONS. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 BRIAN DOHERTY 158429 0 0 0 0 0 0 0 9795 0 168224 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS INCLUDED IN OFFICER'S W-2. PART I, LINE 3 DETERMINING COMPENSATION OF ITS PRESIDENT AND SENIOR MANAGEMENT INCLUDES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA, AS WELL AS THE DIVISION OF LABOR STATISTICS FOR SALARIES IN THE 25%-50% PERCENTILE FOR COLLEGES SIMILAR TO THE ELMS. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S SALARY IS THEN DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SENIOR MANAGEMENT SALARIES ARE EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. PART I, LINE 4B BRIAN DOHERTY, NO AMOUNT WAS ACCRUED ON HIS BEHALF THIS YEAR. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 NONEAVAIL 2010-12-29 4950000 BUILDING RENOVATIONS, PAY OFF PREVIOUS 1999 SERIES BOND AND OTHER DEBT. 0 0 0 1943909 4950000 75855 2266488 663749 2012 1 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 X CHICOPEE SAVINGS BANK A BOARD MEMBER IS AN OFFICER OF THE BANK. 357759 CHICOPEE SAVINGS BANK HAS SEVERAL BANK NOTES OUSTANDING WITH COLLEGE OF OUR LADY OF THE ELMS. AMOUNT OF TRANSACTION LISTED INCLUDES INTEREST AND FEES PAID TO THE BANK. 0 X 5770 COST VALUE X 5 68152 MARKET QUOTATIONS X 1 35000 REAL ESTATE APPRAISAL X FURNITURE 1 50 REPLACEMENT VALUE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE'S CPA FIRM PREPARES THE 990 WHICH IS SUBSEQUENTLY REVIEWED BY THE COLLEGE'S VP OF FINANCE. THE 990 IS THEN PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND THEY VOTE TO ACCEPT THE 990 FOR FILING. THE 990 IS THEN PLACED ON A SECURE WEBSITE FOR BOARD MEMBERS TO REVIEW PRIOR TO THE 990 BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C COPIES OF THE CONFLICT OF INTEREST POLICY ARE DISTRIBUTED TO ALL BOARD MEMBERS, COMMITTEE MEMBERS, AND KEY EMPLOYEES. THEY ARE REQUIRED TO MAKE A PROMPT, FULL AND FRANK DISCLOSURE OF THEIR INTEREST TO THE BOARD OR COMMITTEE PRIOR TO ITS ACTING ON ANY CONFLICTED TRANSACTION. ANY BOARD MEMBER WITH A CONFLICT OF INTEREST MUST ABSTAIN FROM VOTING ON ANY RELATED ISSUES. FORM 990, PART VI, SECTION B, LINE 15 ELMS COLLEGE'S PROCESS FOR DETERMINING COMPENSATION OF ITS PRESIDENT AND SENIOR MANAGEMENT INCLUDES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA, AS WELL AS THE DIVISION OF LABOR STATISTICS FOR SALARIES IN THE 25%-50% PERCENTILE FOR COLLEGES SIMILAR TO THE ELMS. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S SALARY IS THEN DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SENIOR MANAGEMENT SALARIES ARE EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE BUSINESS OFFICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE BUSINESS OFFICE. PART VII, LINE 1A: SISTER MARY REAP,THE COLLEGE PRESIDENT, RECEIVES A W-2 FOR HOUSING ALLOWANCE AND OTHER PERSONAL BENEFITS. SHE IS NOT DIRECTLY COMPENSATED BY THE COLLEGE IN KEEPING WITH HER VOW OF POVERTY. THE COLLEGE PAYS HER WAGE COMPENSATION TO HER ORDER, THE CONGREGATION OF THE SISTERS, SERVANTS OF IMMACULATE HEART OF MARY (IHM). CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -270,396. NET CHANGE ON INVESTMENTS HELD IN TRUST BY OTHERS -29,160. TOTAL TO FORM 990, PART XI, LINE 5: -299,556. PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE FRIENDS OF ELMS COLLEGE INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 208196902 TO SOLICIT, HOLD AND ADMINISTER FUNDS ON BEHALF OF THE COLLEGE. MA 501(C)(3) SUPPORTING ORG 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 THE FRIENDS OF ELMS COLLEGE INC-CASH PAID ON PRIOR YEAR PLEDGE C 50000