2013-11-07T10:19:11-06:00 2013-06-30 510232399 BELFINT LYONS & SHUMAN PA 1011 CENTRE RD STE 310 WILMINGTON DE 19805 990 2012-07-01 510109178 GOLDEY-BEACOM COLLEGE INC GOLD 3029988814 4701 LIMESTONE ROAD WILMINGTON DE 19808 KRISTINE SANTOMAURO 3022256268 2013-11-06 1 MICHAEL FRENCH CPA P00297108 3022250600 2012 2016-02-25 16:41:14Z KRISTINE SANTOMAURO 4701 LIMESTONE ROAD WILMINGTON DE 19808 38251134 0 X WWW.GBC.EDU X 1951 DE TO CONFER THE ASSOCIATE, BACCALAUREATE AND GRADUATE DEGREES ON QUALIFIED STUDENTS. 10 9 283 20 0 -31 1348335 1146429 22106747 27593535 5849981 2609387 56526 44848 29361589 31394199 10498520 11671295 0 0 6810053 6785363 0 0 396217 4168197 4567125 21476770 23023783 7884819 8370416 78569503 91631885 3125001 4573390 75444502 87058495 X GOLDEY-BEACOM COLLEGE PROVIDES ACCESSIBLE EDUCATION OF THE HIGHEST QUALITY, OFFERING UNDERGRADUATE AND MASTERS-LEVEL PROGRAMS. AS A TEACHING-ORIENTED INSTITUTION OF HIGHER LEARNING, THE COLLEGE EMPHASIZES INSTRUCTIONAL EXCELLENCE IN THE CLASSROOM AND IS COMMITTED TO SUSTAINING FACULTY WHO ARE CARING, DEDICATED AND KNOWLEDGEABLE IN THEIR RESPECTIVE FIELDS; WHO MOTIVATE THEIR STUDENTS TO REALIZE THEIR FULL LEARNING POTENTIAL; AND WHO REPRESENT THE VERY BEST IN TEACHING EXCELLENCE. 0 0 15366891 10671107 26127807 PROGRAMS OF STUDY-DAY AND EVENING ACADEMIC PROGRAMS WHICH PROVIDE TRAINING AND EDUCATION TO 700 FULL-TIME STUDENTS AND 1466 PART-TIME STUDENTS. 1490407 410777 1207073 RESIDENT HALLS, FOOD SERVICE AND RELATED SUMMER PROGRAMS-MODERN APARTMENTS LOCATED ADJACENT TO THE ACADEMIC BUILDING TO PROVIDE HOUSING FOR 182 STUDENTS. FOOD SERVICE FACILITIES AND OTHER RELATED SERVICES AVAILABLE FOR STUDENTS AND SUMMER PROGRAM ATTENDEES. 385621 92507 258655 BOOKSTORE-SELLS TEXT BOOKS AND SUPPLIES TO STUDENTS FOR THEIR ACADEMIC PROGRAMS OF STUDY. 3034489 496904 SERVICES PROVIDED TO STUDENTS FOR ACTIVITIES, ATHLETICS, HEALTH & FINANCIAL AID AND SUPPORT DEPARTMENTS OF THE COLLEGE. 3034489 496904 20277408 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 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 0 0 0 0 1 13 0 1 283 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X KRISTINE SANTOMAURO 3029988814 4701 LIMESTONE ROAD WILMINGTON DE 19808 MOHAMMAD ILYAS 40.00 X X 491987 0 30264 JAVED GILANI 2.00 X 0 0 0 MARK R OLAZAGASTI 2.00 X 0 0 0 M METRINKO ROLLINS 2.00 X 0 0 0 MICHAEL S UFFNER 2.00 X 0 0 0 E THOMAS HARVEY 2.00 X 0 0 0 JOAN VERBONITZ PANIK 2.00 X 0 0 0 R JEFFREY JOHNSON 2.00 X 0 0 0 JOHN J PATTERSON III 2.00 X 0 0 0 CORNELIA N WINNER 2.00 X 0 0 0 KRISTINE SANTOMAURO 40.00 X 224004 0 35563 GARY WIRT 40.00 X 270702 0 30540 EMILY JACKSON ILYAS 40.00 X 132479 0 16802 ALISON WHITE 40.00 X 111094 0 22653 ROBERT DONNELLY 40.00 X 106837 0 19847 IBRAHIM ELSIAFY 40.00 X 104052 0 14100 HIBBATUL OMAR 40.00 X 101509 0 21832 1542664 0 191601 8 0 1 0 0 989299 157130 1146429 STUDENT TUITION & FEES 611710 26127807 26127807 RESIDENT HALL FEES 721000 1207073 1207073 BOOKSTORE REVENUE 451211 258655 258655 27593535 1754932 1754932 7701690 9700 6851213 5722 850477 3978 854455 854455 MISCELLANEOUS INCOME 900099 44848 44848 44848 31394199 27593535 0 2654235 11671295 11671295 1083060 692931 390129 4632134 3814313 511364 306457 233000 175009 43952 14039 407329 301612 85684 20033 429840 340731 65665 23444 9219 9219 57000 57000 205296 205296 59393 59393 133979 124297 9682 617558 289324 317607 10627 112391 112391 862892 807944 52253 2695 103132 101157 1731 244 820396 509365 309146 1885 126510 61585 64925 STUDENT ACTIVITIES 375225 375225 SMALL EQUIPMENT 310174 303108 7066 BOOKSTORE PURCHASES 215693 215693 EQUIPMENT MAINTENANCE 193530 176648 16882 364737 145387 202557 16793 23023783 20277408 2350158 396217 2910 2910 13477609 10813610 1149255 1931037 870975 551861 191453 62279 236398 260016 24157586 16303155 8263384 7854431 54341167 70123621 36352 32120 78569503 91631885 102602 43118 3022399 4530272 3125001 4573390 X 63415657 74059141 3460565 4389184 8568280 8610170 75444502 87058495 78569503 91631885 8370416 3243577 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53646071 86484 5617005 238568 59110992 47586681 4170231 2116072 226913 53646071 35326116 5677943 6774941 192319 47586681 31139029 159729 4264190 236832 35326116 34997200 4126855 -7718410 266616 31139029 0.78000 0.15000 0.07000 0 0 388137 388137 18435081 11778785 6656296 2720774 2348647 372127 2613594 2175723 437871 7854431 ADVANCED TUITION & FEES 3317289 STUDENT DEPOSITS 159608 ACCRUED PAYROLL 482479 OTHER LIABILITIES 26658 FEDERAL PORTION PERKINS LOAN FUND 544238 4530272 X 23760950 3243577 3243577 20517373 205296 10671530 10876826 31394199 12146957 0 12146957 205296 10671530 10876826 23023783 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: BOARD-DESIGNATED, UNRESTRICTED ENDOWMENT FUNDS ARE INTENDED FOR SCHOOL'S OPERATIONS AND DRAWS ARE MADE ACCORDING TO THE SCHOOL'S SPENDING POLICY. PERMANENTLY RESTRICTED ENDOWMENT FUNDS ARE HELD BY THE SCHOOL IN PERPETUITY, IN ACCORDANCE WITH DONOR INTENT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: INCOME NOT RELATED TO THE COLLEGE'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA IMPOSE A THRESHOLD FOR DETERMINING WHEN AN INCOME TAX BENEFIT CAN BE RECOGNIZED IN REGARD TO UNCERTAIN TAX POSITIONS. THE COLLEGE HAS DETERMINED THAT NO LIABILITY FOR UNCERTAIN TAX POSITIONS IS REQUIRED TO BE ACCRUED AND INCLUDED IN THE STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2013 AND 2012. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE -NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 10,671,530. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE -NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 10,671,530. 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 FREQUENT NEWSPAPER ADVERTISING EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID 1 SCHOLARSHIPS AND FINANCIAL AID AWARDED TO STUDENTS FOR TUITION, BOOKS AND HOUSING 2163 11671295 ACTUAL CASH VALUE OF REDUCTION FOR TUITION, FEES, HOUSING, AND BOOKS REDUCTION IN TUITION, FEES, HOUSING AND BOOKS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE'S PROCEDURES FOR MONITORING THE USE OF SCHOLARSHIPS AND FINANCIAL AID AWARDED TO STUDENTS ARE BASED UPON THE GUIDELINES PROVIDED BY THE U.S. DEPARTMENT OF EDUCATION. X 1 1 X X 0 0 0 0 0 0 0 0 0 MOHAMMAD ILYAS 454995 0 32162 0 4830 0 24750 0 5514 0 522251 0 0 0 KRISTINE SANTOMAURO 198867 0 13715 0 11422 0 21046 0 14517 0 259567 0 0 0 GARY WIRT 243716 0 16891 0 10095 0 24750 0 5790 0 301242 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FOLLOWING PROCESS WILL BE USED TO ALLOW THE TRUSTEES TO REVIEW THE FORM 990 PRIOR TO ITS SUBMISSION: 1) THE AUDITOR SUBMITS RECOMMENDED COMPLETED FORM 990 TO THE VICE PRESIDENT (VP) FOR ADMINISTRATION/FINANCE FOR REVIEW. 2) UPON THE VP'S APPROVAL OF THE COMPLETED FORM 990, THE VP ELECTRONICALLY SENDS THE RECOMMENDED COPY TO THE FULL BOARD ASKING THEM TO REVIEW THE FORM AND GET BACK TO THE VP BY A DESIGNATED DATE WITH ANY QUESTIONS THEY HAVE. 3) IF QUESTIONS ARE RECEIVED FROM THE TRUSTEES, THE VP IS RESPONSIBLE FOR OBTAINING THE ANSWERS AND REPLYING TO THE TRUSTEES PROMPTLY. 4) ONCE ALL TRUSTEE QUESTIONS HAVE BEEN ANSWERED, THE VP WILL SIGN THE FORM 990 AND INITIATE THE ELECTRONIC SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE IS REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A STATEMENT ACKNOWLEDGING THEIR UNDERSTANDING AND COMPLIANCE WITH THE POLICY. UNDER THE COLLEGE'S PERSONNEL POLICY MANUAL, PAID OFFICERS AND ALL OTHER EMPLOYEES ARE ADVISED TO AVOID ANY POTENTIAL CONFLICTS OF INTEREST AND ARE REQUIRED TO NOTIFY THE COLLEGE IMMEDIATELY SHOULD ANY SUCH CONFLICTS ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION PROCESS IS USED TO DETERMINE THE ANNUAL COMPENSATION FOR THE PRESIDENT, THE VICE PRESIDENTS, AND ANY OTHER KEY EMPLOYEE EARNING MORE THAN $150,000 PER YEAR AT GOLDEY-BEACOM COLLEGE. PRESIDENT - THE CHAIRMAN OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WHO IS ALSO ALWAYS THE CHAIR OF THE FULL BOARD, REVIEWS AND DETERMINES THE ANNUAL COMPENSATION OF THE PRESIDENT OF THE COLLEGE. IN HIS/HER DELIBERATIONS, THE CHAIRMAN GENERALLY CONSULTS WITH THE OTHER INDEPENDENT MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. THE CHAIRMAN AND ALL OTHER MEMBERS OF THE COMMITTEE, EXCLUDING THE PRESIDENT, ARE ALWAYS INDEPENDENT INDIVIDUALS WHO MUST NOT DRAW ANY BENEFITS FROM THE COLLEGE. THEY ARE ALSO REQUIRED TO SIGN A WRITTEN NO-CONFLICT-OF-INTEREST DECLARATION FOR THE RECORD. IN DETERMINING THE ANNUAL COMPENSATION OF THE PRESIDENT, THE CHAIRMAN AND HIS/HER ASSOCIATES NORMALLY TAKE INTO CONSIDERATION THE WIDELY REPORTED AND PUBLISHED DATA OF PRESIDENTIAL COMPENSATION IN SUCH PUBLICATIONS AS THE CHRONICLE OF HIGHER EDUCATION AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). AFTER FINALIZING THE DECISION, THE CHAIRMAN COMMUNICATES IT TO THE PRESIDENT IN A MEETING. VICE PRESIDENTS/KEY EMPLOYEES EARNING MORE THAN $150,000 PER YEAR - THE PRESIDENT OF THE COLLEGE INITIATES THE REVIEW OF THE COMPENSATION OF THE VICE PRESIDENTS AND ALL KEY EMPLOYEES WHO EARN MORE THAN $150,000 PER YEAR. IN HIS/HER REVIEW, THE PRESIDENT TAKES INTO CONSIDERATION THE COMPENSATION DATA PUBLISHED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). BASED ON THE COMPENSATION DATA AND THE PERFORMANCE OF THE EMPLOYEES MAKING MORE THAN $150,000, THE PRESIDENT REVIEWS AND DETERMINES THE NEW COMPENSATION FOR THESE EMPLOYEES FOR THE SUBSEQUENT YEAR. AFTER CONSULTING WITH THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE PRESIDENT COMMUNICATES THE DECISION TO THE RELEVANT EMPLOYEES ON THEIR NEW COMPENSATION IN FORMAL MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S ANNUAL AUDIT REPORT IS AVAILABLE IN THE COLLEGE LIBRARY. WHEN A SPECIFIC REQUEST IS RECEIVED FOR A COPY OF THE AUDIT OR FORM 990, A COPY IS SUPPLIED. ALSO, THE COLLEGE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC FOR REVIEW UPON REQUEST. THE CURRENT MISSION AND PHILOSOPHY STATEMENT ARE AVAILABLE ON THE COLLEGE WEBSITE AT WWW.GBC.EDU.