2012-05-15T12:34:22-05:00 2011-06-30 CLIFTONLARSONALLEN LLP 300 CROWN COLONY DRIVE SUITE 310 QUINCY MA 02169 990 2010-07-01 030179593 MARLBORO COLLEGE MARL 8022517607 PO BOX A MARLBORO VT 05344 ELLEN MCCULLOCH-LOVELL 8022517607 2012-05-15 1 6179848100 2010 2016-02-24 21:20:13Z ELLEN MCCULLOCH LOVELL PO BOX A MARLBORO VT 05344 24265881 0 X WWW.MARLBORO.EDU X 1946 VT PROVIDE UNDERGRADUATE AND GRADUATE EDUCATION 22 21 471 22 -42518 -43518 2309507 2285912 13338540 13139158 661332 1138143 314545 1093025 16623924 17656238 4218032 3934545 0 0 8143194 8294313 0 0 335571 5506527 6908345 17867753 19137203 -1243829 -1480965 58329013 62615675 9044286 8769070 49284727 53846605 X THE MISSION OF MARLBORO COLLEGE IS TO TEACH STUDENTS TO THINK CLEARLY AND TO LEARN INDEPENDENTLY THROUGH ENGAGEMENT IN A STRUCTURED PROGRAM OF LIBERAL STUDIES. STUDENTS ARE EXPECTED TO DEVELOP A COMMAND OF CONCISE AND CORRECT ENGLIGH AND TO STRIVE FOR ACADEMIC EXCELLENCE FORMED BY INTELLECTUAL AND ARTISITIC CREATIVITY; THEY ARE ENCOURAGED TO ACQUIRE A PASSION FOR LEARNING, DISCERNING JUDGEMENT AND A GLOBAL PERSPECTIVE. THE COLLEGE PROMOTES INDEPENDENCE BY REQUIRING STUDENTS TO PARTICIPATE IN THE PLANNING OF THIER OWN PROGRAMS OF STUDY AND TO ACT RESPONSIBLY WITHIN A SELF-GOVERNING COMMUNITY. 0 0 10768667 3934545 13139158 EDUCATIONPROVIDE POST-SECONDARY LIBERAL ARTS DEGREE PROGRAM FOR APPROXIMATLEY 270 UNDERGRADUATE STUDENTS AND 70 MASTERS OF ARTS AND SCIENCE DEGREE STUDENTS. 10768667 1 1 0 0 0 0 0 0 1 1 1 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 1 0 0 0 0 0 0 0 0 0 1 97 0 1 471 1 1 1 1 CJ BD 0 0 0 0 1 1 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X ANNE PRATT 8022517607 2582 SOUTH ROAD MARLBORO VT 05344 ELLEN MCCULLOCH-LOVELL 40.00 X X 192035 0 16494 DEAN NICYPER 1.00 X X 0 0 0 PHILLIP STECKLER III 1.00 X X 0 0 0 RICHARD H SAUDEK 1.00 X X 0 0 0 MARK ANDERSON 1.00 X 0 0 0 JOHN CHAN 1.00 X 0 0 0 SARA E COFFEY 1.00 X 0 0 0 DENA DAVIS 1.00 X 0 0 0 KAREN DAVIS 1.00 X 0 0 0 THOMAS S DURKIN 1.00 X 0 0 0 PETER GALBRAITH 1.00 X 0 0 0 GRETCHEN GERZINA 1.00 X 0 0 0 ELIZABETH GLENSHAW 1.00 X 0 0 0 THOMAS PI GODDARD 1.00 X 0 0 0 WOLF KAHN 1.00 X 0 0 0 KIRSTEN NEWCOMER 1.00 X 0 0 0 LINDY LINDER 1.00 X 0 0 0 PETER MALLARY 1.00 X 0 0 0 STEPHAN MORSE 1.00 X 0 0 0 J BARTON GOODWIN 1.00 X 0 0 0 RICHARD H SAUDEK 1.00 X 0 0 0 EDWARD E WENDELL JR 1.00 X 0 0 0 BERNARD WHARTON 1.00 X 0 0 0 KEVIN WENCK 1.00 X 0 0 0 PETER ZAMORE 1.00 X 0 0 0 SUZANNE OLBRICHT 1.00 X 0 0 0 BRYANT MORGAN 40.00 X 97750 0 18845 289785 0 35339 1 0 1 0 METZ AND ASSOCIATES LTD TWO WOODLAND DR DALLAS PA 18612 FOOD SERVICE 492642 AL TYLER & SONS INC 175 CANAL STREET BRATTLEBORO VT 05301 ELECTRICAL CONTRACTOR 178672 WW BULDING SUPPLIES PO BOX 299 NEWFANE VT 05345 BUILDING SUPPLY 174156 THERMAL HOUSE PO BOX 8063 BRATTLEBORO VT 05304 BUILDING CONTRACTOR 139783 CHESAPEAKE ASSET MANAGEMENT 18310 MONTGOMERY VILLAGE AVENUE SUI GAITHERSBURG MD 20879 INVESTMENT MANAGEMENT 106361 5 142963 2142949 954023 2285912 TUITION AND FEES 611600 11228337 11228337 AUXILIARY SERVICES 611710 1910821 1910821 13139158 362047 362047 719095 719095 719095 719095 7182757 202982 6527854 81789 654903 121193 776096 776096 OTHER SOURCES 900099 373930 -42518 416448 373930 17656238 13139158 -42518 2273686 3934545 3934545 324984 324984 6406202 4550342 1609852 246008 193268 193268 888738 60985 827753 481121 337002 126563 17556 50160 50160 65720 65720 1212694 1212694 545070 261408 276955 6707 194466 149812 38974 5680 405723 185203 189243 31277 44448 25989 17931 528 810772 164296 646476 303577 223919 71728 7930 15723 4926 10797 157 157 1041274 1041274 312208 312208 OTHER EXPENSES 1079622 147039 917328 15255 FOOD & LABOR 637790 616946 18112 2732 MAINTENANCE CONTRACTS 60492 6897 51729 1866 SANITATION REMOVAL 52040 30228 21812 LIBRARY 45502 44165 1337 30907 24965 5910 32 19137203 10768667 8032965 335571 1150 2027330 5412321 4855269 63907 108983 230690 147208 134610 141440 158405 106224 32254921 12885796 18890380 19369125 11631867 12152702 20059408 22779009 1746275 928385 58329013 62615675 1846519 1909627 845397 862292 3195000 2895000 2916510 2854574 240860 247577 9044286 8769070 X 14683084 16561099 6630104 9272448 27971539 28013058 49284727 53846605 58329013 62615675 X -1480965 6042843 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34035298 1000864 6801036 1763000 40074198 28798813 2277897 4412588 1454000 34035298 30896588 2040843 -2653192 1485426 28798813 0.08080 0.91920 0 0 623522 623522 22320439 7034771 15285668 9310960 5851025 3459935 19369125 NEON LIBERTY 2312437 F MASTIFF 2487351 F COMPASS VENTURE PARTNERS 15221 F ABRAMS CAPITAL 5039055 F DELTA FUND INVESTMENT 2228373 F GEOLOGIC RESOURCES FUND 1663032 F GMO EMERGING CURRENCY HEDGE FUNDS 2086969 F DENHAM CAPITAL MANAGEMENT 427438 F NEON-LORIKEET 1256227 F ZAIS GROUP 760986 F SERVERTIS FUND 557746 F GLENMONT CAPITAL MANAGEMENT 227412 F GLENMONT ORLANDO CO-INVESTMENT PARTNERS 312632 F ILS PARTNERS LP 1209685 F OPEN PEAK INVESTMENT 199995 F OPEN PEAK V, LP 150000 F DISCOVERY EQUITY PARTNERS 1480304 F RIVERWOOD 364146 F 22779009 ANNUITIES 104407 ENVIRONMENTAL REMEDIATION LIABILITY 143170 247577 17656238 19137203 -1480965 5804576 238267 6042843 4561878 18551842 5804576 238267 6042843 12508999 1212694 3934545 5147239 17656238 13989964 0 13989964 1212694 3934545 5147239 19137203 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE HAS ADOPTED A POLICY THAT CLARIFIED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO MATERIAL IMPACT ON THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE FILES AS A TAX EXEMPT ORGANIZATION. THE COLLEGE'S 2008,2009 AND 2010 TAX YEARS ARE OPEN FOR EXAMINATION BY THE IRS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 238,267. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 238,267. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,934,545. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,934,545. 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 NONDISCRIMINATION POLICY IS PUBLISHED IN THE COLLEGE CATALOGUE AND STUDENT HANDBOOK. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL AND STATE GOVERNMENT GRANT MONEY. 1 SCHOLARSHIPS/ASSISTANCE 330 3934545 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE STUDENTS MUST APPLY FOR THE GRANTS AND MEET THE REQUIREMENTS OF THE VARIOUS GRANTS. THE PROCESS BY WHICH EACH GRANT IS AWARDED AND MONITORED IS FORMALIZED IN A POLICY WHICH IS UPDATED BY THE ASSOCIATE DIRECTOR OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 ELLEN MCCULLOCH-LOVELL 157035 0 35000 0 0 0 7852 0 8642 0 208529 0 0 0 X 6 954023 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE WHICH CONSISTS OF THE CHAIRMAN, VICE CHAIRMAN, TREASURER, AND CLERK OF THE GOVERNING BODY. THE ROLE OF THE EXECUTIVE COMMITTEE IS TO ADVISE THE PRESIDENT BETWEEN MEETINGS AND OCCASIONALLY MAKING DECISIONS ON BEHALF OF THE BOARD, WHEN THE MATTER IS URGENT AND IT IS NOT FEASIBLE FOR THE ENTIRE BOARD TO CONSIDER THE MATTER. AT THE FEB 5, 2011, MEETING TRUSTEES VOTED TO ALLOW THE EX COMM TO VOTE WITH THE PROVISO THAT ANY DECISION IS THEN CONVEYED TO THE BOARD AND THE BOARD COULD RECONSIDER IT AT THE NEXT MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT, FINANCIAL MANAGEMENT OFFICER AND CHIEF PLANNING AND BUDGET OFFICER REVIEW THE FORM 990 PRIOR TO A REVIEW BY THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING. ONCE THIS PROCESS IS COMPLETE, THE FORM 990 IS THEN PROVIDED TO THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE GOVERNING BODY AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND SIGN A DOCUMENT REGARDING COMPLIANCE WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. THE PRESIDENT'S ASSISTANT MONITORS COMPLIANCE ON BEHALF OF THE BOARD. THE BOARD IS RESPONSIBLE FOR ENFORCEMENT ACTION ON THE POLICY. SHOULD ANY CONFLICT BE IDENTIFIED, THE INDIVIDUAL WOULD NOT PARTICIPATE IN THE DISCUSSION OR VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT COMPENSATION PACKAGE AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION PACKAGE FOR OFFICERS AND KEY EMPLOYEES AND UTILIZES THE APPROPRIATE COMPARABILITY DATA WHEN ESTABLISHING THE COMPENSATION PACKAGE. THIS PROCESS TOOK PLACE IN 2011. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 5,804,576. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 238,267. TOTAL TO FORM 990, PART XI, LINE 5: 6,042,843.