2012-03-30T15:45:49-05:00 2011-06-30 MEYERS BROTHERS KALICKA PC 330 WHITNEY AVE SUITE 800 HOLYOKE MA 01040 990 2010-07-01 042225850 COLLEGE OF OUR LADY OF THE ELMS COLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 BRIAN DOHERTY 4135942761 2012-03-30 1 RUDY M D'AGOSTINO 4135368510 2012-03-27 2010 2016-02-24 21:20:13Z BRIAN DOHERTY 291 SPRINGFIELD STREET CHICOPEE MA 01013 32550133 0 X WWW.ELMS.EDU X 1928 MA ASSIST STUDENTS IN THE PURSUIT OF ACADEMIC EXCELLENCE AND TRUTH BY OFFERING ENRICHING COURSES. 24 22 753 130 81466 -95812 5548057 4317869 25513653 27759493 181522 112233 454849 360538 31698081 32550133 10899129 12641911 0 0 10971875 11495112 0 0 1493505 7105196 7536952 28976200 31673975 2721881 876158 24078635 29638860 10577454 13893608 13501181 15745252 X THE COLLEGE OF OUR LADY OF THE ELMS, A CATHOLIC COLLEGE, EDUCATES A DIVERSE GROUP OF WOMEN AND MEN IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. COMBINING A LIBERAL ARTS EDUCATION WITH PROFESSIONAL STUDIES, ELMS COLLEGE EMPOWERS STUDENTS TO EFFECT POSITIVE CHANGES IN THE COMMUNITY AND IN THE WORLD. AFFIRMING THE FOUNDING TRADITION OF THE SISTERS OF ST. JOSEPH, ELMS COLLEGE CHALLENGES STUDENTS TO EMBRACE CHANGE WITHOUT COMPROMISING PRINCIPLE, TO RESPOND CREATIVELY TO THE DEMANDS OF THEIR CHOSEN CAREERS, AND TO ADVOCATE FOR PEOPLE IN NEED. ELMS COLLEGE IS A COMMUNITY ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, AND RESPONSIVE TO CIVIC AND SOCIAL OBLIGATIONS. 0 0 26351524 12641910 24552184 THE COLLEGE IS DEVOTED TO EDUCATING MEN & WOMEN & HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. IN FY10/11, WE SERVED 1,423 FULL AND PART TIME STUDENTS. 1273106 3338477 AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. 1,923 PEOPLE COULD BE SERVICED. 27624630 1 1 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 68 0 1 753 1 1 1 0 0 0 0 0 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X BRIAN DOHERTY 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 X ANN M CALLAHAN 2.00 X X 0 0 0 LINDA KC MANSFIELD 2.00 X X 0 0 0 RICHARD BOURGEOIS 2.00 X 0 0 0 CAROLYN CONNELLY 2.00 X 0 0 0 KATHI DONAHUE 2.00 X 0 0 0 BARBARA FAILLE SSJ 2.00 X 0 0 0 JOHN M FLYNN 2.00 X 0 0 0 WILLIAM FRAIN 2.00 X 0 0 0 GINA M GOLASH 2.00 X 0 0 0 CATHERINE HOMROK SSJ 2.00 X 0 0 0 CAROLYN JACOBS 2.00 X 0 0 0 ATTY RICHARD J KOS 2.00 X 0 0 0 CYNTHIA LYONS 2.00 X 0 0 0 JOSEPH A MAROIS 2.00 X 0 0 0 WAYNE MCCARY 2.00 X 0 0 0 MARLENE M MUCHA SSJ 2.00 X 0 0 0 ATTY THOMAS D MURPHY JR 2.00 X 0 0 0 DAVID O'BRIEN 2.00 X 0 0 0 JASON OSTRANDER 2.00 X 0 0 0 MARY QUINN SSJ 2.00 X 0 0 0 KATHLEEN RIORDAN 2.00 X 0 0 0 JOAN SCHNEIDER SSJ 2.00 X 0 0 0 PAUL M STELZER 2.00 X 0 0 0 ELLEN W FREYMAN ESQ 2.00 X 0 0 0 ANN KEEFE SSJ 2.00 X 0 0 0 MARY REAP IHM-SEE SCHEDULE O 35.00 X 0 0 33852 BRIAN DOHERTY 35.00 X 156001 0 39398 WALTER BREAU 35.00 X 124635 0 16314 280636 0 89564 2 0 1 0 ARAMARK CORPORATION PO BOX 33170 NEWARK NJ 07188 FOOD SERVICE 1197656 HEALTH NEW ENGLAND PO BOX 415425 BOSTON MA 02241 HEALTH INSURANCE 1059990 MAROIS CONSTRUCTION 262 OLD LYMAN ROAD SOUTH HADLEY MA 01075 CONSTRUCTION COMPANY 634634 SISTERS SERVANT OF THE IMMACULATE HEART 2300 ADAMS AVE SCRANTON PA 18509 PURCHASED SERVICES 221100 FOLLETT HIGHER EDUCATION 3146 SOLUTIONS CENTER CHICAGO IL 60677 BOOKSTORE MANAGEMENT 180294 9 2713024 1604845 45375 4317869 TUITION AND FEES 611310 24421016 24421016 ROOM, BOARD, BOOKS 611310 3338477 3338477 27759493 112233 112233 51848 51848 51848 3080 48768 WORK STUDY 611310 102213 102213 FITNESS CENTER:NONSTUD 713940 58863 58863 OTHER INCOME 611310 38664 7475 1848 29341 108950 21480 17675 69795 308690 32550133 27890661 81466 260137 12548951 12548951 92960 92960 230069 5078 199602 25389 9421580 7953845 645487 822248 292508 236647 29887 25974 855207 671092 94925 89190 695748 585437 57209 53102 45156 45156 74300 74300 37488 30365 6373 750 192985 164679 17337 10969 184703 86453 22728 75522 2095814 1762481 272852 60481 38400 5760 3840 28800 783162 634361 133138 15663 173160 149187 2631 21342 208107 155153 12297 40657 306077 169864 125270 10943 1264080 701564 517009 45507 156171 126499 26549 3123 EQUIPMENT RENTAL & MAIN 830823 663775 124854 42194 WORK STUDY EXPENSE 296176 246596 39187 10393 UNEMPLOYMENT/ TEMP HELP 228306 144280 80839 3187 EDUCATIONAL 131211 131211 INSTITUTIONAL SUPPORT 104735 104735 386098 253657 24370 108071 31673975 27624630 2555840 1493505 298432 3699074 2694807 1548318 348081 592074 987123 989071 342918 301845 32549174 19134163 11885283 13415011 4921929 6311606 2304300 2502081 295762 279780 24078635 29638860 1598978 2117192 1895567 1927568 1990147 4950000 216240 243273 3966502 3851919 910020 803656 10577454 13893608 X 3239519 4826226 2986681 3408243 7274981 7510783 13501181 15745252 24078635 29638860 X 876158 1367913 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48000 X X 0 0 1 7061718 182541 1386673 34293 8596639 5865540 565711 672326 41859 7061718 6995525 270332 -1379596 20721 5865540 0.87000 0.13000 1 0 109370 109370 19029982 9372964 9657018 8747076 6899369 1847707 4662746 2861830 1800916 13415011 FIXED INCOME INVESTMENTS 618893 F BENEFICIAL INTEREST IN PERPETUAL TRUSTS 495304 F LIMITED PARTNERSHIPS 1387884 F 2502081 GRANTS REFUNDABLE 665107 ANNUITY OBLIGATIONS 116172 CAPITAL LEASES 22377 803656 32550133 31673975 876158 1302657 65256 1367913 2244071 21276135 1302657 65256 1367913 19908222 12641911 12641911 32550133 19032064 0 19032064 12641911 12641911 31673975 PART III, LINE 4: DESCRIPTION OF COLLECTION: 33" X 20" WATERCOLOR BY ENRICO TARENGHI WITH VALUE OF $14,000 AND 40 ETCHINGS BY SEARS GALLAGHER WITH TOTAL VALUE OF $34,000. THE ARTWORK PROVIDES AN EXAMPLE OF HOLISTIC ENRICHMENT FOR THE STUDENTS AND PROMOTES THE CONCEPTS SET FORTH IN A LIBERAL ARTS COLLEGE. PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT FUNDS PLACED ON DEPOSIT BY EACH CLASS AND OTHER GROUPS WITH THE COLLEGE AS CUSTODIAN. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE HELD FOR STUDENT SCHOLARSHIPS, CONVOCATION AWARDS, AND TO SUPPORT LIBRARY AND EDUCATION DEPARTMENT OPERATIONS. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET CHANGE ON INVESTMENTS HELD IN TRUST BY OTHERS 65,256. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 65,256. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND AWARDS 12,641,911. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 12,641,911. PART X, LINE 2: PROFESSIONAL ACCOUNTING STANDARDS PROVIDE DETAILED GUIDANCE FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE COLLEGE'S FINANCIAL STATEMENTS, IN ACCORDANCE WITH PROFESSIONAL STANDARDS RELATED TO THE ACCOUNTING FOR INCOME TAXES. THEY REQUIRE AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. A TAX POSITION IS DEEMED TO INCLUDE SUCH THINGS AS THE COLLEGE'S TAX EXEMPT STATUS. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2008. 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 SCHOOL'S STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL APPROPRIATE SCHOOL PUBLICATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 6A: THE COLLEGE RECEIVES GOVERNMENT FINANCIAL ASSISTANCE TO PASS ON TO THE STUDENTS AS SCHOLARSHIPS. 1 SOUTH AMERICA 0 0 GRANTS 13000 EUROPE 0 0 GRANTS 12061 EAST ASIA AND THE PACIFIC 0 0 GRANTS 52399 AFRICA 0 0 GRANTS 15500 0 0 0 0 0 0 92960 0 92960 SCHOLARSHIP SOUTH AMERICA 1 13000 CREDIT TO TUITION BALANCE SCHOLARSHIP EUROPE 2 12061 CREDIT TO TUITION BALANCE SCHOLARSHIP EAST ASIA AND THE PACIFIC 4 52399 CREDIT TO TUITION BALANCE SCHOLARSHIP AFRICA 3 15500 CREDIT TO TUITION BALANCE 0 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: DIRECT PAYMENT OF TUITION 1 SCHOLARSHIPS AND GRANTS 3113 8463031 FAMILY RATE/SIBLING DISCOUNT 38 46420 TRANSFER SCHOOL 214 473000 ELMS DEANERY AWARDS 90 547951 FEDERAL SEOG 184 42153 ELMS PHI 30 160000 ELMS NON-RENEWABLE GRANT 1 1282 GOVERNMENTAL APPROPRIATIONS 904 2713024 SCHOLARSHIPS TO PUERTO RICO STUDENTS 6 102090 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSSFA) APPLICATIONS. THEY ARE MONITORED IN ACCORDANCE WITH FEDERAL REGULATIONS. X X X X 0 1 0 0 0 0 0 0 0 BRIAN DOHERTY 156001 0 0 0 0 0 39398 0 0 0 195399 0 0 0 PART I, LINE 4B BRIAN DOHERTY, $31,152 WAS ACCRUED ON HIS BEHALF. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 NONEAVAIL 2010-12-29 4950000 BUILDING RENOVATIONS, PAY OFF PREVIOUS 1999 SERIES BOND AND OTHER DEBT. 0 0 0 1943909 4950000 75855 2266488 663749 1 0 0 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 MAROIS CONSTRUCTION OWNER IS A BOARD TRUSTEE 749500 THE COLLEGE UTILIZED THE CONSTRUCTION FIRM OWNED BY A TRUSTEE. 0 CHICOPEE SAVINGS BANK BOARD MEMBERS ARE OFFICERS OF THE BANK 306273 CHICOPEE SAVINGS BANK HAS SEVERAL BANK NOTES OUSTANDING WITH COLLEGE OF OUR LADY OF THE ELMS. AMOUNT OF TRANSACTION LISTED INCLUDES INTEREST AND FEES PAID TO THE BANK. 0 X 19415 FAIR MARKET VALUE X FURNITURE 1 25960 REPLACEMENT VALUE 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE COLLEGE'S CPA FIRM PREPARES THE 990 WHICH IS SUBSEQUENTLY REVIEWED BY THE COLLEGE'S VP OF FINANCE. THE 990 IS THEN PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND THEY VOTE TO ACCEPT THE 990 FOR FILING. THE 990 IS THEN PLACED ON A SECURE WEBSITE FOR BOARD MEMBERS TO REVIEW PRIOR TO THE 990 BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C COPIES OF THE CONFLICT OF INTEREST POLICY ARE DISTRIBUTED TO ALL BOARD MEMBERS, COMMITTEE MEMBERS, AND KEY EMPLOYEES. THEY ARE REQUIRED TO MAKE A PROMPT, FULL AND FRANK DISCLOSURE OF THEIR INTEREST TO THE BOARD OR COMMITTEE PRIOR TO ITS ACTING ON ANY CONFLICTED TRANSACTION. ANY BOARD MEMBER WITH A CONFLICT OF INTEREST MUST ABSTAIN FROM VOTING ON ANY RELATED ISSUES. FORM 990, PART VI, SECTION B, LINE 15 ELMS COLLEGE'S PROCESS FOR DETERMINING COMPENSATION OF ITS PRESIDENT AND SENIOR MANAGEMENT INCLUDES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA, AS WELL AS THE DIVISION OF LABOR STATISTICS FOR SALARIES IN THE 25%-50% PERCENTILE FOR COLLEGES SIMILAR TO THE ELMS. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S SALARY IS THEN DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SENIOR MANAGEMENT SALARIES ARE EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE BUSINESS OFFICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE BUSINESS OFFICE. PART VII, LINE 1A: SISTER MARY REAP,THE COLLEGE PRESIDENT, RECEIVES A W-2 FOR HOUSING ALLOWANCE AND OTHER PERSONAL BENEFITS. SHE IS NOT DIRECTLY COMPENSATED BY THE COLLEGE IN KEEPING WITH HER VOW OF POVERTY. THE COLLEGE PAYS HER WAGE COMPENSATION TO HER ORDER, THE CONGREGATION OF THE SISTERS, SERVANTS OF IMMACULATE HEART OF MARY (IHM). CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,302,657. NET CHANGE ON INVESTMENTS HELD IN TRUST BY OTHERS 65,256. TOTAL TO FORM 990, PART XI, LINE 5: 1,367,913. PART XII- LINE 2C: THERE HAS BEEN NO CHANGE DURING THE TAX YEAR TO THE OVERSIGHT PROCESS OR SELECTION PROCESS OF AN INDEPENDENT ACCOUNTANT. THE FRIENDS OF ELMS COLLEGE INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 208196902 TO SOLICIT, HOLD AND ADMINISTER FUNDS ON BEHALF OF THE COLLEGE. MA 501(C)(3) SUPPORTING ORG 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 THE FRIENDS OF ELMS COLLEGE INC-CASH PAID ON PRIOR YEAR PLEDGE C 50000