2012-04-16T11:28:24-05:00 2011-06-30 RIBIS JONES & MARESCA PA 10500 LITTLE PATUXENT PARKWAY SUITE COLUMBIA MD 21044 990 2010-07-01 520591608 HOOD COLLEGE OF FREDERICK MD HOOD 3016963131 401 ROSEMONT AVE FREDERICK MD 21701 CHARLES G MANN 3016963131 2012-04-16 1 DAVID JONES 4108840220 2010 2016-02-24 21:20:13Z RONALD J VOLPE 401 ROSEMONT AVE FREDERICK MD 21701 106440334 0 X WWW.HOOD.EDU X 1893 MD HOOD COLLEGE PREPARES STUDENTS TO EXCEL IN MEETING THE PERSONAL, PROFESSIONAL AND GLOBAL CHALLENGES OF THE FUTURE. HOOD IS COMMITTED TO THE INTEGRATION OF THE LIBERAL ARTS, THE PROFESSIONS AND TECHNOLOGY, TO THE EXPLORATION OF VALUES, A SENSE OF COMMUNITY AND TO THE PREPARATION OF STUDENTS FOR LIVES OF RESPONSIBILITY AND LEADERSHIP. 19 19 1269 0 211497 -190803 8800301 9411244 47842522 51743850 1712456 1583067 0 0 58355279 62738161 18701557 22087076 0 0 19150695 20148533 0 0 1361177 17107367 17150775 54959619 59386384 3395660 3351777 109643582 130392096 18413047 28034442 91230535 102357654 X HOOD COLLEGE PREPARES STUDENTS TO EXCEL IN MEETING THE PERSONAL, PROFESSIONAL AND GLOBAL CHALLENGES OF THE FUTURE. HOOD IS COMMITTED TO THE INTEGRATION OF THE LIBERAL ARTS, THE PROFESSIONS AND TECHNOLOGY, TO THE EXPLORATION OF VALUES, A SENSE OF COMMUNITY AND TO THE PREPARATION OF STUDENTS FOR LIVES OF RESPONSIBILITY AND LEADERSHIP. 0 0 47872414 22087076 51743850 HIGHER EDUCATION-FOUNDED IN 1893, HOOD COLLEGE IS A PRIVATE INSTITUTION OF HIGHER LEARNING WITH AN ESTABLISHED TRADITION OF PROVIDING A COMPREHENSIVE ACADEMIC PROGRAM IN THE LIBERAL ARTS AND PROFESSIONAL STUDIES. HOOD PROVIDES ITS STUDENTS WITH THE OPPORTUNITY TO PURSUE TWENTY-SEVEN MAJOR FIELDS OF STUDY TOWARDS BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES, 14 MASTER'S DEGREES AND 5 POST-BACCALAUREATE CERTIFICATE PROGRAMS AND CERTIFICATION PROGRAMS IN EDUCATION. IN FALL 2010, TOTAL ENROLLMENT WAS 2448 STUDENTS COMPRISED OF 1,486 UNDERGRADUATE AND 962 STUDENTS SEEKING MASTER'S DEGREES, CERTIFICATES OR CERTIFICATION. 47872414 1 1 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 3249 0 1 1269 0 1 1 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X DARIAN SCHULZE 3016963883 401 ROSEMONT AVE FREDERICK MD 21701 CHERYL BROWN DREILING 2.00 X 0 0 0 PHILIP A BERKHEIMER 2.00 X 0 0 0 M RICHARD ADAMS 2.00 X 0 0 0 JANET H COTTON 2.00 X 0 0 0 MARGERY LESSER ELFIN 2.00 X 0 0 0 JOAN ESSELEN FOOT 2.00 X 0 0 0 J BRIAN GAENG 2.00 X 0 0 0 GAIL L GAMBLE 2.00 X 0 0 0 EVA TEIG HARDY 2.00 X 0 0 0 ROBERT G HOOPER 2.00 X 0 0 0 KEVIN C JACKSON 2.00 X 0 0 0 GEORGE E LEWIS JR 2.00 X 0 0 0 JACOB RAY RAMSBURG 2.00 X 0 0 0 JANET SPAULDING NUNN 2.00 X 0 0 0 MALINDA B SMALL 2.00 X 0 0 0 JUDITH MESSINA 2.00 X 0 0 0 EARLENE H THORNTON 2.00 X 0 0 0 LAURA LEE MILLER 2.00 X 0 0 0 NEAL WILSON 2.00 X 0 0 0 RONALD VOLPE 60.00 X 266520 0 223795 CHARLES MANN 40.00 X 158427 0 50697 DIANE K WISE 40.00 X 56026 0 17928 DARIAN SCHULZE 40.00 X 83194 0 26622 KATHLEEN C BANDS 40.00 X 114090 0 36509 NANCY GILLECE 40.00 X 131345 0 42030 OLIVIA WHITE 40.00 X 116903 0 37409 CORNELIUS R FAY 40.00 X 109287 0 34972 1035792 0 469962 6 0 1 0 KBE BUILDING CORPORATION 8661 ROBERTS FULTON DRIVE 190 COLUMBIA MD 21046 CONSTRUCTION ENGINEERING SERVICES 8393164 WARNER CONSTRUCTION 50 CITIZENS WAY SUITE 201 FREDERICK MD 21701 GENERAL CONTRACTING 6270101 ARAMARK CORP 24818 NETWORK PLACE CHICAGO IL 60673 FACILITIES MANAGEMENT 3882084 ARAMARK SERVICES 5271 ELLIOT ROAD BUTLER PA 160018105 FOOD SERVICES 2254121 BUSHMAN DREYFUS ARCHITECTS 820-B EAST HIGH STREET CHARLOTTSVILLE VA 22902 ARCHITECTURAL SERVICES 1328159 42 2154101 7257143 9411244 GROSS TUITION AND FEES 611600 43756419 43756419 AUXILIARY ENTERPRISES 713990 7211318 6999821 211497 OTHER EDUCATION AND GE 611600 776113 776113 51743850 1336125 1336125 43949115 43702173 246942 246942 246942 62738161 51532353 211497 1583067 22087076 22087076 1035791 718548 279312 37931 14745446 10229195 3976264 539987 574653 398648 154961 21044 2656800 1843072 716434 97294 1135843 787956 306292 41595 55126 38242 14865 2019 147575 102376 39795 5404 129588 129588 7236158 5019860 1951306 264992 185926 128980 50137 6809 1266708 878739 341581 46388 1730936 1200783 466765 63388 236843 164302 63868 8673 1853699 1285946 499869 67884 267835 185802 72225 9808 OTHER 4040381 2802889 1089531 147961 59386384 47872414 10152793 1361177 1536493 135825 74912 78966 1112425 418874 3681314 3806979 5495424 82712 192945 467011 96095888 46594332 36958407 49501556 19594948 33753017 24390098 30792144 16606616 11355012 109643582 130392096 5276897 8129253 411110 244930 106000 8571748 6030406 4719929 6588634 6368582 18413047 28034442 X 36440452 38018379 17607047 24103314 37183036 40235961 91230535 102357654 109643582 130392096 X 3351777 7775342 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51630273 4570822 9387527 2148192 63440430 47488121 1062827 5416867 2337542 51630273 59084921 269907 -9372947 1561958 931802 47488121 0.09110 0.63290 0.27600 1 0 265048 265048 61398255 28849060 32549195 5514180 2045636 3468544 16281896 15213509 1068387 12636509 486127 12150382 49501556 BONDS 17009572 F REAL ESTATE 1562551 F HEDGE FUNDS 12220021 F 30792144 INTEREST HELD IN TRUST BY OTHERS 8391855 CASH AND SHORT TERM INVESTMENTS 2936426 LIFE INSURANCE 26731 11355012 SPLIT INTEREST AGREEMENTS 2384892 REFUNDABLE ADVANCES FROM GOVT-PERKINS 2444659 CONDITIONAL ASSET RETIREMENT OBLIGATIONS 1539031 6368582 62738161 59386384 3351777 8444430 -669088 7775342 11127119 50860233 8444430 -668287 7776143 43084090 129588 19524483 19654071 62738161 39732977 0 39732977 129588 19523819 19653407 59386384 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO BE USED PRIMARILY FOR INSTRUCTION, SCHOLARSHIPS, AND ACADEMIC SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN JUNE 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED INTERPRETATION NUMBER 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (INCLUDED IN FASB ASC-740-10-INCOME TAXES - OVERALL). ASC 740-10 PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX REURN. ASC 740-10 ALSO PROVIDES RELATED GUIDANCE ON MEASUREMENT CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. AS PROVIDED IN FASB STAFF POSITION FIN 48-3, EFFECTIVE DATE OF FASB INTERPRETATION NO. 48 FOR CERTAIN NON-PUBLIC ENTERPRISES, HOOD COLLEGE HAS IMPLEMENTED ASC 740-10 FOR THE YEAR ENDED JUNE 30, 2010. THIS IMPLEMENTATION HAD NO IMPACT ON THE COLLEGE'S STATEMENT OF FINANCIAL POSITION OR STATEMENT OF ACTIVITIES, AS THERE WERE NO UNRECOGNIZED TAX BENEFITS OR LIABILTIES THAT NEEDED TO BE RECORDED. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SIA -308,576. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -360,511. ROUNDING -1. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SIA -308,576. CHANGE IN VALUE OF SWAP AGREEMENTS -360,511. CONSOLIDATING ENTRY 800. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, SCHOLARSHIPS 19,524,483. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, SCHOLARSHIPS 19,524,483. CONSOLIDATED ENTITIES EXPENSE -664. 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 NON-DISCRIMINATION POLICY IS PLACED ON ALL PUBLICATIONS & PRINTED MATERIALS. SPECIFICALLY THE POLICY APPEARS ON THE APPLICATION MATERIALS, LETTERS TO POTENTIAL STUDENTS AND ON THE ORGANIZATION'S WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 HOOD COLLEGE RECEIVES THE FOLLOWING FEDERAL ASSISTANCE: DIRECT STUDENT FINANCIAL AID FROM THE U.S. DEPARTMENT OF EDUCATION, AND U.S. DEPARTMENT OF EDUCATION PASS-THRU FUNDING FROM THE STATE OF MARYLAND. IN ADDITION, HOOD COLLEGE RECEIVED GRANT AWARDS FROM THE NATIONAL SCIENCE FOUNDATION, THE U.S. DEPARTMENT OF AGRICULTURE, U.S. DEPARTMENT OF COMMERCE, U.S. DEPARTMENT OF DEFENSE, AND THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES NATIONAL INSTITUTE OF HEALTH. 1 HOOD COLLEGE PROVIDES SCHOLARSHIP TO STUDENTS ATTENDING THE COLLEGE 1325 22087076 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL HOOD COLLEGE GRANTS, COLLEGE WORK-STUDY AWARDS, PERKINS LOANS AND MOST STAFFORD LOANS ARE BASED ON FINANCIAL NEED. HOOD SCHOLARSHIPS ARE BASED ON ACADEMIC ACHIEVEMENT AS EVALUATED THROUGH THE STUDENT'S HIGH SCHOOL RECORD AND SAT SCORES. MANY SCHOLARSHIP RECIPIENTS' TOTAL FINANCIAL AID PACKAGES ALSO INTEGRATE NEED BASED AWARDS. ALL GRANTS AND AWARDS REQUIRE REPORTING OF FUND USAGE. X 1 1 X X X 0 0 0 0 0 0 0 0 0 RONALD VOLPE 266520 0 0 0 0 0 108149 0 115646 0 490315 0 0 0 CHARLES MANN 158427 0 0 0 0 0 0 0 50697 0 209124 0 0 0 KATHLEEN C BANDS 114090 0 0 0 0 0 0 0 36509 0 150599 0 0 0 NANCY GILLECE 131345 0 0 0 0 0 0 0 42030 0 173375 0 0 0 OLIVIA WHITE 116903 0 0 0 0 0 0 0 37409 0 154312 0 0 0 COUNTY COMMISSIONERS OF FREDERICK COUNTY 526000943 2010-07-28 15800295 BUILDINGS AND STRUCTURES, LAND IMPORVEMENTS 0 0 0 8487748 219300 8487748 2011 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 PART II - PROCEEDS ISSUE PRICE OF ENTIRE ISSUE OF $15,800,295 WILL BE FULLY DRAWN-DOWN BY THE BORROWER, HOOD COLLEGE, BY MARCH 31, 2012 FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS OR A DESIGNATED REPRESENTATIVE OF THE BOARD OF DIRECTORS TO REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY OF HOOD COLLEGE IS THAT EACH MEMBER OF THE BOARD SHALL EXECUTE AND SUBMIT ON AN ANNUAL BASIS DURING HER/HIS TERM OF SERVICE A DISCLOSURE OF INTEREST STATEMENT. THE CHAIRPERSON OF THE BOARD, IN CONJUNCTION WITH THE MANAGEMENT OF THE COLLEGE, MONITORS THE SUBMISSION OF THESE FORMS ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 PER THE BYLAWS, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES HAS THE AUTHORITY TO SET THE PRESIDENT'S SALARY. DECISIONS REGARDING THE PRESIDENT'S SALARY ARE DOCUMENTED CONTEMPORANEOUSLY IN THE MINUTES OF THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES. COMPARABILITY DATA IS USED TO AID IN THE DETERMINATION OF HIRING SALARIES AS WELL AS ON-GOING ADJUSTMENTS. SALARY REVIEWS AND ADJUSTMENTS FOR ALL EMPLOYEES, EXCLUDING THE PRESIDENT, ARE PERFORMED PERIODICALLY BY SUPERVISORS. RECOMMENDATIONS ARE REVIEWED BY THE DIRECTOR OF HUMAN RESOURCES, THE BUDGET DIRECTOR, AND THE DIVISIONAL VICE PRESIDENT. SALARY ADJUSTMENTS ARE APPROVED BY THE VICE PRESIDENT OF FINANCE OR THE PRESIDENT. THE LAST SUCH SALARY REVIEW TOOK PLACE IN OCTOBER OF 2011. FORM 990, PART VI, SECTION C, LINE 19 HOOD COLLEGE MAINTAINS A COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, A COPY OF THE 990 IS AVAILABLE FOR REVIEW ON THE WEBSITE GUIDESTAR.ORG. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 8,444,430. CHANGE IN VALUE OF SIA -308,576. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -360,511. CONSOLIDATING ENTRIES, NET -1. TOTAL TO FORM 990, PART XI, LINE 5: 7,775,342. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S PROCESS FOR SELECTING INDEPENDENT AUDITORS AND FOR AUDIT OVERSIGHT HAVE NOT CHANGED FROM THE PRIOR YEAR. HOOD COLLEGE FOUNDATION 401 ROSEMONT STREET FREDERICK MD 21701 521961144 SUPPORT OF HOOD COLLEGE MD 501(C)(3) LINE 11A, I HOOD COLLEGE 1 HOOD COLLEGE LP 401 ROSEMONT AVENUE FREDERICK MD 21701 521969014 INVESTING MD HOOD COLLEGE INVESTMENT -465 0 1 0.99000 FREDERICK AIRPORT PARK ASSOCIATES LP 7600 COLSHIRE DRIVE SUITE 150 MCLEAN VA 22102 541795144 REAL ESTATE VA INVESTMENT 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 HOOD COLLEGE FOUNDATION D 4160955 ACTUAL CASH HOOD COLLEGE FOUNDATION E 4160955 ACTUAL CASH