2012-05-15T14:49:46-05:00 2011-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2010-07-01 042104847 WILLIAMS COLLEGE WILL 4135974412 HOPKINS HALL PO BOX 67 WILLIAMSTOWN MA 01267 FREDERICK W PUDDESTER 2012-05-15 6175305000 2010 2016-02-24 21:20:13Z ADAM F FALK HOPKINS HALL PO BOX 67 WILLIAMSTOWN MA 01267 238865402 false X www.williams.edu X 1793 MA SEE SCHEDULE O 23 22 3299 3386 -750044 -2664073 30854258 51244721 107717074 109464389 40043565 76479180 1581649 1677112 180196546 238865402 42341530 43509051 0 99192654 100811891 1250 0 5612963 66456209 67079262 207991643 211400204 -27795097 27465198 2082417011 2374027960 352636428 398969115 1729780583 1975058845 X SEE SCHEDULE O false false 180187506 43509051 109464389 SEE SCHEDULE O 180187506 true true false true false false true true true true true false false true false true false true true true false false false false false false true true true true false false false false false true false false true false true true false false false true true true false false true 3831 0 3299 true true true true UK false false false false false false false false X 23 22 false false false false false false false true true false false false true true true true false true true false CA MA X X SUSAN HOGAN 4135974204 PO BOX 67 WILLIAMSTOWN MA 01267 X GREGORY M AVIS 6.0 X 0 0 0 BARBARA A AUSTELL 4.0 X 0 0 0 THOMAS M BALDERSTON 4.0 X 0 0 0 PATRICK F BASSETT 4.0 X 0 0 0 DAVID C BOWEN 4.0 X 0 0 0 VALDA CLARK CHRISTIAN 4.0 X 0 0 0 ERIC L COCHRAN 4.0 X 0 0 0 MICHAEL R EISENSON 4.0 X 0 0 0 YVONNE HAO 4.0 X 0 0 0 STEPHEN HARTY 4.0 X 0 0 0 JOEY SHAISTA HORN 4.0 X 0 0 0 MICHAEL B KEATING 4.0 X 0 0 0 JONATHAN A KRAFT 4.0 X 0 0 0 FEDERICK M LAWRENCE 4.0 X 0 0 0 GLENN D LOWRY 4.0 X 0 0 0 ROBIN POWELL MANDJES 4.0 X 0 0 0 FRED NATHAN JR 4.0 X 0 0 0 KATHERINE L QUEENEY 4.0 X 0 0 0 ROBERT G SCOTT 4.0 X 0 0 0 WILLIAM E SIMON JR 4.0 X 0 0 0 A CLAYTON SPENCER 4.0 X 0 0 0 LAURIE J THOMSEN 4.0 X 0 0 0 SARAH KEOHANE WILLIAMSON 4.0 X 0 0 0 ADAM FALK 40.0 X X 345042 0 72203 COLLETTE D CHILTON 40.0 X 569943 0 150487 KELI A KAEGI 40.0 X 127352 0 32403 STEPHEN P KLASS 40.0 X 280586 0 71609 WILLIAM J LENHART 40.0 X 201990 0 42834 ANDREA DANYLUK 40.0 X 137372 0 44963 WILLIAM G WAGNER 40.0 X 191368 0 41166 SHAWN DONOVAN 40.0 X 279297 0 75126 HOK L JOENG 40.0 X 285373 0 72868 PAUL KARABINOS 40.0 X 280435 0 32126 MICHAEL E REED 40.0 X 223118 0 64430 BRADFORD B WAKEMAN 40.0 X 294486 0 83926 THOMAS A KOHUT 40.0 X 185266 0 47965 3401628 0 832106 198 true true false FOUR SEASONS HEATING COOLING INC 134 EAST HOUSATONIC STREET DALTON MA 01227 CONSTRUCTION 1444373 BARR AND BARR INC 260 COCHITUATE ROAD 2ND FLOOR FRAMINGHAM MA 01701 CONSTRUCTION 480392 ALLEGRONE CONSTRUCTION CO INC 273 NEWELL STREET PITTSFIELD MA 01201 CONSTRUCTION 643177 ANN BEHA ARCHITECTS INC 33 KINGSTON STREET BOSTON MA 02111 CONSTRUCTION 517029 CONSIGLI CONSTRUCTION CO INC 72 SUMMER STREET MILFORD MA 01757 CONSTRUCTION 476697 37 2906101 48338620 19436083 51244721 TUITION, FEES, ROOM AND BOARD 900099 105539150 105539150 AUXILIARY REVENUE 721110 3618855 541766 3077089 OTHER PROGRAM REVENUE 900099 306384 306384 109464389 2767784 -1395160 4162944 945 945 0 1573762 1573762 1573762 1573762 73710451 73710451 73710451 73710451 0 0 0 MISCELLANEOUS 713940 103350 103350 103350 238865402 105845534 -750044 82525191 629976 629976 42879075 42879075 0 0 1965773 144078 1414333 407362 133063 133063 74091667 63081515 8491045 2519107 6689774 5475960 996156 217658 12580649 10601579 1641073 337997 5350965 4380068 796798 174099 0 313306 1355 311951 232053 5075 226978 0 0 0 12253758 7934803 3829259 489696 132035 84225 47338 472 6572994 5936402 523479 113113 2940274 2911615 14698 13961 0 0 3713589 3085220 359118 269251 0 163071 141453 13203 8415 7384758 6044843 1099645 240270 0 19026023 15573880 2833114 619029 915691 436114 467192 12385 FELLOWSHIPS, STUDENT AWARDS 2767916 2767916 EQUIPMENT RENTAL AND MAINTANCE 5178268 3144450 2022252 11566 UTILITIES 5485526 4927904 379040 178582 211400204 180187506 25599735 5612963 8537619 14747026 41099326 32317907 68816638 61523003 647200 755384 174918 161593 17981493 16479992 558885 422099 28890333 5903117 606086580 244044691 370923077 362041889 451761995 519303657 1093115527 1298802787 61569505 2082417011 2374027960 41210828 39422807 3367043 3643795 254832519 300301843 49780445 52182894 3445593 3417776 352636428 398969115 X 268462549 323426872 988418383 1146489478 472899651 505142495 1729780583 1975058845 2082417011 2374027960 X 27465198 217813064 X X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 26022 26022 LOBBYING ACTIVITY EXPLANATION SCHEDULE C, PART II-B, LINE 1I THE ORGANIZATION PAYS MEMBERSHIP DUES TO MEMBER ORGANIZATIONS INCLUDING NACUBO AND AICUM WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES. 568610 36009572 X X X X false false true 1456675029 24762586 292928636 13178824 14107392 5063067 1742016968 1356383537 7662899 158826639 11848782 49030707 5318557 1456675029 1741168587 14722390 -320754718 15677010 53911305 9164407 1356383537 0.12640 0.25820 0.61540 false false 43728354 43728354 456471795 198039371 258432424 59024727 33396324 25628403 46861704 12608996 34252708 362041889 REAL ASSET COMMINGLED FUNDS 48155410 F REAL ESTATE PARTNERSHIPS 100626923 F REAL ESTATE MUTUAL FUNDS 1358887 F PRIVATE EQUITY PARTNERSHIPS 346140573 F PRIVATE FIXED INCOME FUNDS 81518640 F REAL ASSET PARTNERSHIPS 39044213 F EQUITY HEDGE FUNDS 386296548 F ABSOLUTE RETURN HEDGE FUNDS 247369146 F REAL ASSET HEDGE FUNDS 47250621 F REAL ASSETS ART 1041826 F 1298802787 0 US GOVERNMENT ADVANCES FOR STUDENTS 3417776 3417776 238865402 211400204 27465198 231922879 -14109815 217813064 245278262 413799391 231922879 -56988890 174933989 238865402 238865402 168521129 168521129 42879075 42879075 211400204 FORM 990, SCHEDULE D, PART III, LINE 1A THE COLLEGE'S ART AND RARE BOOK COLLECTIONS ARE RECORDED AT COST OR APPRAISED VALUE AT THE DATE OF ACQUISITION. COLLECTIONS ARE NOT DEPRECIATED. FORM 990, SCHEDULE D, PART III, LINE 4 THE MUSEUM'S PRINCIPLE MISSION IS TO ENCOURAGE MULTIDISCIPLINARY TEACHING THROUGH ENCOUNTERS WITH ART OBJECTS THAT TRAVERSE TIME PERIODS AND CULTURES. FORM 990, SCHEDULE D, PART IV , LINE 2B WILLIAMS COLLEGE SERVES AS TRUSTEE FOR VARIOUS CHARITABLE REMAINDER TRUSTS AND MAINTAINS THE ASSETS AND CORRESPONDING RESERVE LIABILITIES ON ITS BALANCE SHEET. USE OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE ENDOWMENT MANAGES AND INVESTS TO PROVIDE CURRENT AND FUTURE SUPPORT FOR THE OPERATIONS OF THE COLLEGE. EXAMPLES OF SPECIFIC PUPOSES INCLUDE SCHOLARSHIPS FOR STUDENTS, FACILITIES UPKEEP, RESEARCH, FACULTY COMPENSATION AND OTHER ACADEMIC AND STUDENT OPERATIONS. FORM 990, SCHEDULE D, PART X, LINE 2 WILLIAMS DID NOT REPORT A FIN 48 LIABILITY. FORM 990, SCHEDULE D, PART XI, LINE 8 ACTUARIAL CHANGES AND PAYMENTS OF ANNUITIES $(4,533,154) LOSS ON DISPOSITION OF FIXED ASSETS $(9,071,117) LOSS ON FINANCIAL CONTRACTS $(505,544) TOTAL $(14,109,815) FORM 990, SCHEDULE D, PART XII, LINE 2D FINANCIAL AID $(42,879,075) LOSS ON DISPOSITION OF FIXED ASSETS $(9,071,117) ACTUARIAL CHANGES AND PAYMENTS OF ANNUITIES $(4,533,154) LOSS ON FINANCIAL CONTRACTS $(505,544) TOTAL $(56,988,890) FORM 990, SCHEDULE D, PART XIII, LINE 4B FINANCIAL AID $42,879,075 true true true true true true true false false false false false false false false true false true FORM 990, SCHEDULE E, LINE 3 WILLIAMS COLLEGE COURSE CATALOG/BULLETIN. FORM 990, SCHEDULE E, LINE 6A RECEIPT OF FEDERAL FINANCIAL AID STUDENTS AT WILLIAMS COLLEGE RECEIVE TITLE IV FEDERAL FINANCIAL AID. STUDENTS APPLY FOR AND RECEIVE FEDERAL FINANCIAL AID & PROFESSORS APPLY FOR AND RECEIVE GOVERNMENT GRANTS. true Europe (Including Iceland and Greenland) 1 1 Program Services ONE YEAR ACADEMIC PROG 700663 Europe (Including Iceland and Greenland) 0 0 Program Services Study Abroad 244330 Central America and the Caribbean Investments 501247681 Europe (Including Iceland and Greenland) Investments 11477417 Sub-Saharan Africa Investments 2177982 1 1 1 1 515848073 515848073 FELLOWSHIP Europe/Iceland/Greenland true false true true true false SCHEDULE F, PART I, COLUMN (F) ALL EXPENSES OF OUR PROGRAM IN OXFORD ARE RECORDED AS EXPENSES IN THE FINANCIAL STATEMENTS OF THE COLLEGE. SCHEDULE F, PART I, LINE 2 For the student tuition payments we remit funds directly to the institutions based on invoices received from the institutions. SCHEDULE F, PART I, LINE 3 THE REGION REPORTED IN COLUMN(A) FOR THE COLLEGE'S INVESTMENTS IS BASED ON THE LEGAL DOMICILE OF THE INVESTMENT FUND AS PROVIDED IN THE SCHEDULE F INSTRUCTIONS. THIS DOES NOT REPRESENT THE REGION OF THE UNDERLYING INVESTMENTS OR THE REGION WHERE THE INVESTMENT ACTIVITY OCCURS. true NORTHERN BERKSHIRE UNITED WAY INC P NORTH ADAMS MA 01247 042104785 501 (C) (3) 5134 PROGRAM SUPPORT VILLAGE AMBULANCE SERVICE INC 30 WATER STREET WILLIAMSTOWN MA 01267 042756911 501 (C) (3) 21000 MEDICAL SERVICES WILLIAMSTOWN COMMUNITY CHEST PO BOX 204 WILLIAMSTOWN MA 01267 046044550 501 (C) (3) 29279 CHARITABLE CONTRIBUTION IMAGES CINEMA 50 SPRING STREET WILLIAMSTOWN MA 01267 043407257 501 (C) (3) 22500 FILM EXHIBITION WILLIAMS CLUB OF NEW YORK 15 WEST 43RD STREET NEW YORK NY 10036 131475080 501 (C) (7) 472062 CLOSING COSTS MT GREYLOCK REGIONAL HIGH SCHOOL 1781 COLD SPRING ROAD WILLIAMSTOWN MA 01267 046006483 30000 COMMUNITY SUPPORT MASS MUSEUM OF CONTEMP ART 1040 MASS MOCA WAY NORTH ADAMS MA 01247 043113688 501(C)(3) 50000 PROGRAM SUPPORT 5 2 FINANCIAL AID - SCHOLARSHIPS TO STUDENTS 1170 42879075 GRANTS - EXPLANATION SCHEDULE I, PART I, LINE 2 FINANCIAL AID IS AWARDED BY FINANCIAL AID PROFESSIONALS IN ACCORDANCE WITH COLLEGE POLICIES. SCHEDULE I, PART III CASH GRANTS ARE CREDITS TO STUDENT ACCOUNTS. X X X true true X X X X X false true false false false false false true false ADAM FALK 292227 0 0 0 52815 0 18062 0 54141 0 417245 0 0 0 COLLETTE D CHILTON 368667 0 164621 0 36655 0 129942 0 20545 0 720430 0 60349 0 KELI A KAEGI 125699 0 0 0 1653 0 14054 0 18349 0 159755 0 0 0 STEPHEN P KLASS 277465 0 0 0 3121 0 27762 0 43847 0 352195 0 0 0 WILLIAM J LENHART 201497 0 0 0 493 0 23289 0 19545 0 244824 0 0 0 ANDREA DANYLUK 137339 0 0 0 33 0 15542 0 29421 0 182335 0 0 0 WILLIAM G WAGNER 191335 0 0 0 33 0 22021 0 19145 0 232534 0 0 0 SHAWN DONOVAN 214769 0 64495 0 33 0 54734 0 20392 0 354423 0 31667 0 HOK L JOENG 220878 0 64495 0 0 0 54976 0 17892 0 358241 0 24085 0 PAUL KARABINOS 140899 0 0 0 139536 0 14571 0 17555 0 312561 0 0 0 MICHAEL E REED 206618 0 0 0 16500 0 25763 0 38667 0 287548 0 0 0 BRADFORD B WAKEMAN 240514 0 53099 0 873 0 60381 0 23545 0 378412 0 19812 0 THOMAS A KOHUT 177975 0 0 0 7291 0 19139 0 28826 0 233231 0 0 0 BENEFITS Schedule J, Part I, Line 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: PRESIDENT FALK WAS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF HIS EMPLOYMENT AND FOR THE CONVENIENCE OF WILLIAMS. WILLIAMS PROVIDES HOUSING FOR EMPLOYEES WHEN THERE IS A REQUIREMENT TO LIVE IN COLLEGE HOUSING. WILLIAMS has included as nontaxable compensation in Column D the estimated rental value of the private areas of the residence. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: WILLIAMS PAID DUES FOR A GOLF COURSE MEMBERSHIP FOR PRESIDENT FALK. THE AMOUNTS WERE REPORTED AS TAXABLE COMPENSATION. PERSONAL SERVICES: PRESIDENT FALK RECEIVED CERTAIN PERSONAL SERVICES PROVIDED AT HIS HOUSE. SUCH SERVICES THAT WERE NOT BUSINESS RELATED WERE REPORTED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 4b and Line 7 Members of the investment office staff are eligible to receive an annual bonus up to a certain percentage of their base salary. The bonus is determined by the performance of the investment portfolio in relation to the performance of the policy benchmark. The policy benchmark is established by the Investment Committee of the Board of Trustees. The bonus is paid out over time, requires the individual to remain employed in order to be eligible to receive payment, and is subject to NEGATIVE EARNINGS provisions. MASS HEALTH & EDU FACILITIES AUTHORITY SERIES L 042456011 57586CQS7 2007-01-04 76536465 CONSTRC AND 1999 ADV. REFUNDING false false false MASS HEALTH & EDU FACILITIES AUTHORITY SERIES N&O 043431814 57583UAA6 2011-03-24 92077256 CONSTRC AND 2007 CURRENT REFUNDING false false false MASS HEALTH & EDU FACILITIES AUTHORITY SERIES J&K 042456011 57586CPX7 2006-04-03 73396573 1996 AND 2003 CURRENT REFUNDING false false false MASS HEALTH & EDU FACILITIES AUTHORITY SERIES H&I 042456011 57585kw79 2003-04-02 115049757 CONSTRC AND 1993 CURRENT REFUNDING false false false 806469 76536465 518260 66333146 9685059 2008 false true true true 92077256 661056 5999584 41250000 44166616 true false false 4470806 73396573 72840280 556293 2006 true false true true 53170933 115049757 644884 100699405 13705468 2005 false true true true false false false false 0.01680 0.01680 true false false false 0.01037 0.01037 true false false false false 0.01924 0.01924 true false false false false 0.01924 0.01924 true false false false true RBC CAPITAL 2. true false true false true false false false true true MORGAN STANLEY 20. false false false false false false true TRINITY 3.25 true false true Keli Kaegi MORTGAGE ON PRIM RES X 70000 36241 false true true WILLIAM LENHART MORTGAGE ON PRIM RES X 56563 19127 false true true STEPHEN KLASS MORTGAGE ON PRIM RES X 100000 86913 false true true Thomas Kohut MORTGAGE ON PRIM RES X 70000 19312 false true true 161593 WILLIAMSTOWN MEDICAL spouse of an officer 132658 MEDICAL SRVC PROVIDED TO STUD false stephanie boyd spouse of an officer 133063 williams college employee false X 13 539425 APPRAISALS X 425 18867473 FMV X BOOKS 10 29185 MARKET PRICE 0 false true true schedule m, part I, column B In column B, the college is reporting the number of contributions. ARRANGEMENTS WITH THIRD PARTIES OR RELATED ORGANIZATIONS. SCHEDULE M, PART I, LINE 32B WILLIAMS COLLEGE GENERALLY USES BNY MELLON BANK TO FACILITATE THE SALE OF PUBLICALLY TRADED STOCK. MISSION STATEMENT FORM 990, PART I, LINE 1 AND PART III, LINE 1 WILLIAMS COLLEGE (THE "COLLEGE" OR "WILLIAMS") IS A PRIVATE, NON-PROFIT, NON-SECTARIAN INSTITUTION OF HIGHER EDUCATION COMMITTED TO THE LIBERAL ARTS EDUCATION OF YOUNG MEN AND WOMEN. IT IS LOCATED IN WILLIAMSTOWN, MASSACHUSETTS, ON A CAMPUS OF APPROXIMATELY 450 ACRES. THE COLLEGE WAS FOUNDED IN 1793 AS A COLLEGE "FOR THE PURPOSE OF EDUCATING YOUTH." THE COLLEGE BECAME CO-EDUCATIONAL IN 1971. TODAY, WILLIAMS IS AN INDEPENDENT LIBERAL ARTS COLLEGE FOR APPROXIMATELY 2,000 FULL-TIME UNDERGRADUATE AND 50 GRADUATE STUDENTS WHO COME FROM ALL OF THE 50 STATES AND MANY FOREIGN COUNTRIES. THE WILLIAMS CURRICULUM OFFERS STUDY IN THE HUMANITIES, THE SOCIAL SCIENCES AND THE NATURAL SCIENCES AND COMBINES A BROAD EDUCATION WITH KNOWLEDGE OF ONE FIELD IN DEPTH. THE COLLEGE OFFERS THE BACHELOR OF ARTS DEGREE AT THE UNDERGRADUATE LEVEL. IN ADDITION, MASTER OF ARTS PROGRAMS IN POLICY ECONOMICS AND HISTORY OF ART ARE OFFERED. REVIEW PROCESS FORM 990, PART VI, LINE 11A WORKING WITH PRICEWATERHOUSECOOPERS, LLP ("PWC"), THE FORM 990 IS PREPARED FOR REVIEW BY SENIOR MANAGEMENT AND THE AUDIT COMMITTEE. PWC SIGNS THE RETURN AS PAID PREPARER. A FINAL FORM 990 excluding the nameS of 2 ANONYMOUS donorS wERE THEN DISTRIBUTED TO THE FULL BOARD BEFORE FILING WITH THE IRS. CONFLICT OF INTEREST FORM 990, PART VI, SECTION B, LINE 12C Trustees are required to file a Conflict of Interest Disclosure annually. The disclosure forms are reviewed by the Chair of the Audit Committee. Employees are required to file a Conflict of Interest Disclosure form annually. Disclosures are reviewed by Department Heads and Senior Staff. Trustees and employees are expected to report any mid-year changes to the President's Office and their supervisor respectively. Where a conflict of interest is known, the trustee recuses themself from the decision. document retention POLICY FORM 990, PART VI, SECTION B, LINE 14 Williams College does not have one overarching document retention policy. Each department has a document retention and destruction policy that is applicable to the nature of the information that they collect. Process for determining Compensation FORM 990, PART VI, SECTION B, LINE 15 WILLIAMS COLLEGE ASSIGNS THE DUTY OF SETTING EXECUTIVE COMPENSATION TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SELECTS A SUBSET OF THE COMMITTEE TO SERVE AS AN INDEPENDENT COMPENSATION COMMITTEE THAT ANNUALLY REVIEWS THE COMPENSATION OF THE PRESIDENT. THIS COMMITTEE CONSIDERS COMPENSATION SURVEYS, MARKET DATA AND ANALYSES. THE COMMITTEE'S DELIBERATIONS ARE NOTED. THE COMPENSATION OF THE ORGANIZATION'S OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT. THE PRESIDENT CONSIDERS COMPENSATION SURVEYS, MARKET DATA AND ANALYSES. GOVERNING DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 Williams College financial statements are posted on the College website. Conflict of Interest Statements and Governing Documents are on file in the President's Office and are not public. RECONCILIATION OF NET ASSETS FORM 990, PART IX, LINE 5 UNREALIZED GAIN ON INVESTMENTS $231,922,879 ACTUARIAL CHANGES AND PAYMENTS OF ANNUITIES $(4,533,154) LOSS ON DISPOSITION OF FIXED ASSETS $(9,071,117) LOSS ON FINANCIAL CONTRACTS $(505,544) TOTAL $217,813,064 STERLING & FRANCINE CLARK ART INSTITUTE 225 south street WILLIAMSTOWN MA 01267 042163004 ART MUSEUM MA 501(C)(3) 11A NA true ASSOCIATED KYOTO PROGRAM INC college hall rm 204 northampton MA 01063 042996114 EDUCATION MA 501(C)(3) 11D NA false WILLIAMS COLLEGE LAND FOUNDATION 880 main street WILLIAMSTOWN MA 01267 043158500 RE HOLDING MA 501(C)(3) N/A NA false WILLIAMS COLLEGE OXFORD PROGRAM EDUCATION UK 501(C)(3) n/a N/A true CHARITABLE REMAINDER TRUSTS (133) FUNDRAISING MA NA TRUST POOLED INCOME FUNDS (3) FUNDRAISING MA NA TRUST PERPETUAL TRUSTS (5) FUNDRAISING MA NA TRUST false false false false false false false false false false false false false false true false false false sterling & francine clark art institute O 53058 CASH WILLIAMS COLLEGE OXFORD PROGRAM O 668058 CASH