2012-04-06T12:11:56-05:00 2011-06-30 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2010-07-01 042002060 THE SISTERS OF SAINT ANN INC SIST 5088493300 50 SUNSET LANE PAXTON MA 01612 JACK CALARESO 5088493300 2012-03-29 1 BARBARA E KING 5087557107 2012-03-27 2010 2016-02-24 21:20:13Z ANNA MARIA COLLEGE JACK CALARESO PHD 50 SUNSET LANE PAXTON MA 01612 36827499 0 X WWW.ANNAMARIA.EDU X 1887 MA PROVIDE EDUCATION TO THE GENERAL PUBLIC. 27 27 222 40 37052 0 3644347 3688142 31563303 31806084 126967 208921 188032 290579 35522649 35993726 11026609 11102712 0 0 11672868 11937143 0 0 490022 9845631 11734922 32545108 34774777 2977541 1218949 34075420 50100051 18786752 33397446 15288668 16702605 X ANNA MARIA COLLEGE, A CATHOLIC INSTITUTION OF HIGHER LEARNING, RECOGNIZES ITS OBLIGATION TO SERVE ITS IMMEDIATE COMMUNITY, THE COMMONWEALTH OF MASSACHUSETTS, THE NATION AND THE WORLD THROUGH THE PROVISION OF EDUCATION, THE PRESERVATION OF LEARNING, AND THE SPONSORSHIP OF RESEARCH.ROOTED IN THE ROMAN CATHOLIC TRADITION OF HIGHER EDUCATION, ANNA MARIA COLLEGE IS MAINTAINED AND OPERATED IN CONFORMITY WITH THE VALUES OF THE JUDEO-CHRISTIAN TRADITION AND IN KEEPING WITH THE IDEALS OF ITS FOUNDRESSES, THE SISTERS OF SAINT ANNE. THESE IDEALS, WHICH REFLECT THE DEVELOPMENT OF THE TOTAL HUMAN BEING, ALSO INCLUDE INCREASING ACCESS TO QUALITY EDUCATION, EDUCATIONAL INNOVATION AND RESPECT FOR PRACTICAL SKILLS.SPECIFICALLY, ANNA MARIA COLLEGE SEES ITS MISSION TO BE THAT OF FOSTERING IN ITS STUDENTS INTELLECTUAL INVOLVEMENT, CAREER PREPARATION, SOCIAL AWARENESS, DEDICATION TO JUSTICE AND PEACE, RELIGIOUS AND MORAL SENSITIVITY, AND A LIFESTYLE CAPABLE OF SUSTAINING THESE WITHIN BALANCE. 1 0 24114637 11102712 32032536 HIGHER EDUCATION: EDUCATION, HOUSING, MEALS, EXTRA CURRICULAR ACTIVITES AND BOOKSTORE FOR APPROXIMATELY 1,600 STUDENTS AT THE UNDERGRADUATE AND GRADUATE LEVEL FOR TRADITIONAL AGED STUDENTS AS WELL AS ADULT STUDENTS. THE COLLEGE HOLDS TWO SUMMER SESSIONS, A FALL TERM, WINTER TERM, AND SPRING TERM. SOME GRADUATE COURSES ARE ACCELERATED AND HAVE TWO TERMS WITHIN THE SEMESTER. THE COLLEGE OFFERS OVER 35 UNDERGRADUATE DEGREE PROGRAMS AND OVER 22 GRADUATE AND CONTINUING EDUCATION PROGRAMS. POPULAR MAJORS INCLUDE BUSINESS, CRIMINAL JUSTICE, EDUCATION, FIRE SCIENCE, SOCIAL WORK, AND PSYCHOLOGY. THE COLLEGE ALSO OFFERS SPECIAL MAJORS SUCH AS ART THERAPY, SPORTS MANAGEMENT, AN RN-TO-BSN PROGRAM AND AN ASSOCIATE IN NURSING DEGREE PROGRAM. FIFTH-YEAR MASTER'S OPTIONS ARE AVAILABLE IN BUSINESS ADMINISTRATION, COUNSELING PSYCHOLOGY, CRIMINAL JUSTICE, EDUCATION, EMERGENCY MANAGEMENT, FIRE SCIENCE, PASTORAL STUDIES/COUNSELING, AND VISUAL ART. POPULAR GRADUATE PROGRAMS INCLUDE AN ACCELERATED MBA,CRIMINAL JUSTICE AND FIRE SCIENCE. A NEW HONORS PROGRAM WAS INTRODUCED IN THE FALL OF 2008, AS WELL AS A MASTER IN PUBLIC ADMINISTRATION AND A CERTIFICATE IN VICTIMOLOGY. OTHER ACADEMIC PROGRAMS BEING EXPLORED INCLUDE APPLIED HISTORY, VIDEO GAME DESIGN AND DANCE AND DANCE THERAPY. CO-CURRICULAR PROGRAMS ABOUND AT THE COLLEGE INCLUDING 15 COMPETITIVE SPORTS TEAMS. FIVE NEW TEAMS HAVE BEEN ADDED INCLUDING LACROSSE, TENNIS AND FOOTBALL. ITS PAXTON CAMPUS WITH NEW RESIDENCE HALLS AND EDUCATIONAL FACILITIES HAS BEEN EXPANDED TO MEET THE GROWING DEMANDS OF ITS CURRENT AND FUTURE UNDERGRADUATE STUDENTS. 24114637 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 66 0 1 222 1 0 0 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X YVONNIE MALCOLM 5088493427 ANNA MARIA COLLEGE 50 SUNSET LANE PAXTON MA 01612 YVETTE E BELLEROSE SSA 2.00 X 0 0 0 JOSEPH J BAFARO 2.00 X 0 0 0 DAVID C BROUGH 2.00 X 0 0 0 MAUREEN L COGHLIN 2.00 X 0 0 0 RITA M DEROY SSA 2.00 X 0 0 0 PAUL A DIPIERRO 2.00 X 0 0 0 BARBARA A FLYNN SSA 2.00 X 0 0 0 LLOYD L HAMM JR 2.00 X 0 0 0 MARGUERITE A ST AMAND SSA 2.00 X 0 0 0 JOHN J SPILLANE ESQ 2.00 X 0 0 0 JACK P CALARESO PHD 35.00 X X X 367149 0 20853 REV PAUL D KENNEDY 2.00 X 0 0 0 ELAINE POTVIN SSA 2.00 X 0 0 0 ELIZABETH ANN QUINN 2.00 X 0 0 0 CHERYL SLEBODA 35.00 X X 121279 0 18611 MICHELE JACQUES SSA 2.00 X 0 0 0 MADELEINE LANOUE SSA 2.00 X 0 0 0 BRIAN O'CONNELL 2.00 X 0 0 0 ALFRED A LAGAN 2.00 X 0 0 0 EDITH M LAVIGNE 2.00 X 0 0 0 ANNETTE BIBEAU SSA 2.00 X 0 0 0 MIMI KRUG 2.00 X 0 0 0 JACQUELINE LEBOEUF SSA 2.00 X 0 0 0 BARBARA A NOLDER TREMAIN 2.00 X 0 0 0 RICHARD F REIDY 2.00 X 0 0 0 488428 0 39464 2 0 1 0 CUTLER ASSOCIATES 43 HARVARD STREET WORCESTER MA 01609 CONSTRUCTION SERVICES 7137913 SODEXHO CAMPUS SERVICES 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 FOOD SERVICES 1248364 SIEMENS PUBLIC INC 333 OLD MILTON PARKWAY ALPHARETTA GA 30005 CONSTRUCTION SERVICES 1237484 LAURING CONSTRUCTION CO 33 BRIGHAM RD WORCESTER MA 01609 CONSTRUCTION SERVICES 749760 ALLAIN SITEWORK INC 53 HIGH BRIDGE RD HUBBARDSTON MA 01452 CONSTRUCTION SERVICES 327925 11 33738 2918965 735439 3688142 TUITION AND FEES 611710 26704456 26704456 ROOM AND BOARD 611710 5100648 5100648 LOAN INTEREST INCOME 611710 980 980 31806084 210106 210106 37052 37052 37052 37052 817714 818899 -1185 -1185 -1185 14874 33738 14874 0 28890 28890 28890 MISCELLANEOUS 611710 214882 214882 COMMISSIONS 611710 9755 9755 224637 35993726 32029536 37052 238996 11102712 11102712 10021497 7663875 2114111 243511 383450 275927 102000 5523 830267 597453 196530 36284 701929 505102 175792 21035 40274 40274 2258445 338402 1823820 96223 471279 186 471093 304878 122871 139356 42651 69323 69323 395012 271743 101054 22215 61228 44684 14355 2189 784538 784538 1814060 1814060 199075 199075 RECRUITING 1395198 1361165 34033 FOOD SERVICES 1044980 1044980 UTILITIES 992492 169873 822619 SUPPLIES 481595 293718 180124 7753 UNCOLLECTIBLE ACCOUNTS 365000 365000 1057545 321946 722961 12638 34774777 24114637 10170118 490022 6010938 10149098 714153 1316095 574648 409602 1797675 1587393 147035 206769 50245816 17728226 21525787 32517590 2830225 3341097 185019 300512 289940 271895 34075420 50100051 1174527 3026672 154221 395735 14125000 26643052 3333004 3331987 18786752 33397446 X 13792727 15146156 997839 963972 498102 592477 15288668 16702605 34075420 50100051 X 1218949 194988 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 2680748 62358 558218 48687 3252637 2497132 179231 74941 -70556 2680748 1392411 1356686 -223208 -28757 2497132 0.74000 0.26000 0 0 113480 113480 20499478 8364848 12134630 8216072 503283 7712789 7540006 5895032 1644974 13876780 2965063 10911717 32517590 STUDENT DEPOSITS 291472 AGENCY FUNDS 58669 ASSETS HELD FOR FEDERAL PERKINS LOAN PROGRAM 1177113 CAPITAL LEASE OBLIGATION 1804733 3331987 35993726 34774777 1218949 452675 -257687 194988 1413937 25196844 452675 -257687 194988 25001856 10991870 10991870 35993726 23782907 0 23782907 10991870 10991870 34774777 PART III, LINE 4: THE ORGANIZATION HAS A COLLECTION OF RELIGIOUS HISTORIC ARTIFACTS THAT ARE ON DISPLAY IN BUILDINGS THAT ARE OPEN TO THE PUBLIC. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF NUMEROUS FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. THE BOARD OF TRUSTEES HAS INTERPRETED STATE LAW AS ALLOWING THE UTILIZATION OF APPRECIATION ON PERMANENTLY RESTRICTED ASSETS UNLESS EXPLICIT DONOR STIPULATIONS SPECIFY HOW NET APPRECIATION MUST BE USED. AS A RESULT OF THIS INTERPRETATION, THE COLLEGE CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURES BY THE COLLEGE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE COLLEGE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE ORGANIZATION AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE ORGANIZATION; AND THE INVESTMENT POLICIES OF THE ORGANIZATION. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD-DESIGNATED AND OTHER ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE COLLEGE'S INVESTMENT COMMITTEE SHALL SEEK TO INVEST THE ENDOWMENT FUNDS IN SUCH A MANNER THAT THE INVESTMENTS WILL PROVIDE A SPENDABLE RETURN CONSISTENT WITH A LONG-TERM GOAL OF PRESERVING THE FUNDS IN REAL TERMS. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE COLLEGE HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERISIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE IT LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE COLLEGE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 5% OF THE TWELVE-QUARTER AVERAGE FAIR MARKET VALUE OF THE ENDOWMENT CALCULATED AS OF JUNE 30 PRECEDING THE YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE COLLEGE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE COLLEGE TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, DEFICIENCIES OF THIS NATURE ARE REPORTED IN UNRESTRICTED NET ASSETS. SUCH DEFICIENCIES AMOUNTED TO $879 AND $7,019 AS OF JUNE 30, 2011 AND 2010, RESPECTIVELY. IN ACCORDANCE WITH THE BOARD'S INTERPRETATION OF RELEVANT STATE LAW, APPROPRIATION OF INVESTMENT RETURN ON THESE FUNDS HAS BEEN SUSPENDED UNTIL SUCH TIME AS THE DEFICIENCY HAS BEEN RESTORED AND THE FAIR VALUE OF THE FUND EXCEEDS THE LEVEL REQUIRED TO BE RETAINED PERMANENTLY. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON HEDGING INSTRUMENT -257,687. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON HEDGING INSTRUMENT -257,687. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 10,991,870. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 10,991,870. PART X, QUESTION 2: THE COLLEGE QUALIFIES AS A TAX-EXEMPT, NON-PROFIT ORGANIZATION UNDER 501(C)(3) OF THE INTERAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAX IS REQUIRED. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE UPON THE COLLEGE'S STATEMENTS OF FINANCIAL POSITION, OR THE RELATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. 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 NOTICES OF THE SCHOOL'S DISCRIMINATION POLICY ARE MAILED TO EACH STUDENT AND ARE POSTED ON CAMPUS BULLETIN BOARDS. THE POLICY IS INCLUDED IN SCHOOL BROCHURES, SCHOOL CATALOGS, AND NEWSPAPER ADVERTISEMENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 ANNA MARIA RECEIVES CONTRIBUTIONS FROM THE GOVERNMENT IN THE FORM OF GRANTS. GOLF TOURNAMENT 48612 33738 14874 14874 48612 33738 14874 14874 14874 0 28890 0 28890 28890 MA 1 0 0 0 0 0 1 SCHOLARSHIPS 9834 11102712 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHEDULE I, PART1, LINE 2: ANNA MARIA COLLEGE PARTICIPATES IN TITLE IV FUNDING. STUDENTS MUST COMPLETE THE FAFSA FORM TO APPLY FOR AID. X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 JACK P CALARESO PHD 329466 0 0 0 37683 0 16578 0 4275 0 388002 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2007-06-21 10200000 CONSTRUCTION & REFINANCE 0 0 1 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2008-03-01 5000000 CONSTRUCTION 0 0 1 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2010-09-30 16115000 REFINANCE 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2010-09-30 10705000 CONSTRUCTION 0 0 0 10200000 2008 0 0 0 1 5000000 2009 0 0 0 1 16115000 50000 2010 1 0 1 1 10705000 67121 61208 8322780 2388113 2011 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 1 TD BANK NA 0 1 0 0 0 0 0 1 TD BANK NA 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 ANNA MARIA ADDED AN ONLINE NURSING COMPONENT TO THE DELTAK AGREEMENT. FORM 990, PART VI, SECTION B, LINE 11 THE 990 WILL BE REVIEWED BY THE AUDIT/FINANCE COMMITTEE, THE EXECUTIVE COMMITTEE, THEN WILL BE REVIEWED BY THE FULL BOARD IN FEBRUARY 2012. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO ENSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS, OFFICERS, AND EMPLOYEES ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. FORM 990, PART VI, SECTION B, LINE 15 A RECOMMENDATION IS MADE FROM THE EXECUTIVE COMMITTEE AND APPROVED BY THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE 990 IS LISTED AS PART OF THE GUIDESTAR REPORTING TOOL WHICH HAS PUBLIC ACCESS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 452,675. UNREALIZED LOSS ON HEDGING INSTRUMENT -257,687. TOTAL TO FORM 990, PART XI, LINE 5: 194,988.