2012-05-11T13:40:54-07:00 2011-06-30 990 2010-07-01 236002304 CORPORATION OF HAVERFORD COLLEGE CORP 6108961248 370 Lancaster Avenue Haverford PA 190411392 Kathi Ruffin 6108961249 2012-05-11 2010 2016-02-24 21:20:13Z HAVERFORD COLLEGE Joanne Creighton Interim President 370 Lancaster Avenue Haverford PA 190411392 302444578 0 X www.haverford.edu X 1833 PA Higher Education. Haverford College is committed to providing a liberal arts education in the broadest sense. 33 32 1978 2387 1572996 854506 14458844 17285215 63187282 66204490 9803225 48757963 99509 87371 87548860 132335039 17591742 19965895 0 0 45993168 47762714 85014 63494 4962223 29718616 35041905 93388540 102834008 -5839680 29501031 543898843 598489137 147881034 150953800 396017809 447535337 Haverford College is committed to providing a liberal arts education in the broadest sense. This education, based on a rich academic curriculum at its core, is distinguished by a commitment to excellence and a concern for individual growth. Haverford has chosen to remain small and to foster close student/faculty relationships to achieve these objectives. The College's rigorous academic program is flexible in form and content to meet the needs of individual students, and rests on the assumption that the able students who come here will use their capacities fully. Haverford's faculty is noted for its strength in both scholarship and teaching, and its members expect to transmit to students their enthusiasm and high standards. The faculty members are teaching at an undergraduate college of arts and sciences by choice and they expect to learn, as well as to teach, in this close relationship with undergraduates. 0 0 65652545 19950895 50680938 Higher Education: Instruction (undergraduate liberal arts): academic support and research; 1246 student FTE; 151.1 faculty FTE; 299 degrees conferred in 10/11. The majority of research awards are in the natural sciences. Federal funds support 25 grants including 8 ARRA grants, PA state funds support 2 grants, 10 are supported by private foundations. The College supports the balance. 12405661 0 15294086 Higher Education: Auxiliary enterprises (dorms, dining center, faculty housing, conference program). The dorms housed 1154 students; 902 were on the board plan. The College provided 69 spaces for rent to faculty to foster educational interaction with students. 11527950 0 249264 Student Services Programs: Dean, Registrar, Admissions, Counseling, Career Development, Advising, Health Services, Athletics, Disability Services, Security and other miscellaneous services. 15000 15000 0 Higher Education: Grants paid from donor advised funds to other 501(c)(3) charities. (4 charities) 15000 15000 0 89601156 1 1 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1994 0 1 1978 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 33 32 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CA CO DC HI KY MA MD MI NH NJ NY OH OK OR PA WA WI X X Kathi L Ruffin 6108961248 370 Lancaster Ave Haverford PA 190411392 James L Boyer 2 X 0 0 0 Christopher E Dunne 2 X 0 0 0 Martha Brown Bryans 2 X 0 0 0 Stephen C Curwood 2 X 0 0 0 Jonathan Wood Evans 2 X 0 0 0 James W Friedman 2 X 0 0 0 Michael B Kim 2 X 0 0 0 Catherine P Koshland 2 X 0 0 0 Eugene A Ludwig 2 X 0 0 0 Howard W Lutnick 2 X 0 0 0 Irene E McHenry 2 X 0 0 0 John M Morse 2 X 0 0 0 Christopher K Norton 2 X 0 0 0 Carlos A Rodriguez Vidal 2 X 0 0 0 Christopher T Grant 2 X 0 0 0 Sheila K Sachs 2 X 0 0 0 Lawrence G Tint 2 X 0 0 0 Allan Richard White III 2 X 0 0 0 Peter Abramenko 2 X 0 0 0 Steven M Jaharis 2 X 0 0 0 Garry W Jenkins 2 X 0 0 0 Hunter R Rawlings III 2 X 0 0 0 Roger B Kafker 2 X 0 0 0 Jacqueline V Brady 2 X 0 0 0 Harold E Jordan 2 X 0 0 0 Dana Shanler Ladden 2 X 0 0 0 Elizabeth Enloe 2 X 0 0 0 Anjan K Chatterjee 2 X 0 0 0 Ann V Satterwaite 2 X 0 0 0 Elon E Spar 2 X 0 0 0 Charles G Beever 2 X 0 0 0 Jennifer C Boal 2 X 0 0 0 Stephen G Emerson 60 X X 386925 0 113182 G Richard Wynn 60 X 235158 0 36183 Linda Bell 60 X 198365 0 50956 Jess Lord 60 X 129504 0 30940 Michael Kiefer 60 X 253989 0 41007 Martha Denney 60 X 143167 0 28770 Joseph Spadaro 60 X 146250 0 32585 Kimberly Benston 60 X 170596 0 34319 Jerry Gollub 60 X 197425 0 28044 Ashok Gangadean 60 X 143395 0 36565 Linda Gerstein 60 X 148115 0 24425 Curtis Greene 60 X 165286 0 27454 2318175 0 484430 61 0 1 0 Dechert LLC P O Box 7247-6643 Philadelphia PA 191706643 Legal 467519 Tod Williams Billie Tsien Architects LLP 222 Central Park South New York NY 10019 Architect 2033795 W S Cumby Inc 938 Lincoln Avenue Springfield PA 19064 Construction 641998 GSM Gooding Simpson Mackes Inc 345 South Reading Road Ephrata PA 175220476 Construction , Roofing 245178 BSI Brendan Stanton Inc 416 Stump Road Montgomeryville PA 18936 Contractor HVAC 200765 22 0 0 0 0 2499336 14785879 1376386 17285215 Tuition and fees 611310 50570175 50570175 0 0 Auxiliary enterprises 900099 15294086 14396916 501181 395989 340229 247465 0 92764 66204490 7913244 0 1071815 6841429 27573 0 0 27573 0 0 0 0 25981 0 0 0 25981 0 25981 0 0 25981 174751112 34934007 148873843 19994130 25877269 14939877 40817146 0 0 40817146 0 1283158 1241566 41592 0 0 41592 Quaker Library 611310 4298 4298 0 0 Summer Camp 900099 11500 11500 0 0 Provost Discretionary 900099 4000 4000 0 0 0 0 0 0 19798 132335039 65234354 1572996 48242474 15000 15000 19406240 19406240 544655 544655 0 0 1896236 840818 624987 430431 0 0 0 0 33671140 26005951 5807720 1857469 3276167 2489887 589710 196570 6330539 4811210 1139497 379832 2588632 1967360 465954 155318 0 0 0 0 494957 0 463605 31352 141567 0 141567 0 0 0 0 0 63494 63494 1985548 0 1985548 3869427 2506861 1175027 187539 129192 74264 54928 0 3144719 1693549 1203558 247612 1101572 869737 153575 78260 0 0 0 0 3137252 2427987 566442 142823 1767651 1407092 159012 201547 0 0 0 0 0 0 0 0 5493462 4625176 581752 286534 0 0 0 0 6821617 6364745 306104 150768 343808 292237 34381 17190 Minor equipment, auto 1329100 832040 476936 20124 Study away program expenses 2126084 2126084 0 0 Food services 1874505 1503001 305245 66259 Dues,subscriptions,memberships 1271380 1146599 71641 53140 Reallocate Facilities and Security 0 7650663 -8046624 395961 10064 0 10064 0 102834008 89601156 8270629 4962223 0 0 21653515 35101529 7073491 15675863 946504 1537328 473287 799622 0 0 0 0 376716 381144 565289 334512 221199034 99043123 122645431 122155911 96385379 83723892 272935927 320970372 2265336 2070121 0 0 18577968 15738843 543898843 598489137 4416572 4461442 2619686 3029690 117962900 123649549 0 0 0 0 0 0 0 0 22881876 19813119 147881034 150953800 X 149218524 155853095 91400363 121250805 155398922 170431437 396017809 447535337 543898843 598489137 X 29501031 22016497 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 15000 19796 302478 1 1 20196 4343610 0 0 X X X 0 1 414049 496351 414048 496352 0 355500298 6865272 61484887 3708640 14633057 2779091 402729669 336085820 5451420 33178648 3402225 14473951 1339414 355500298 521307851 10637065 -170364959 4977583 19515424 1001130 336085820 0.35 0.4 0.25 0 0 0 4213432 4213432 0 177854720 76772531 101082189 0 0 0 0 0 21149271 16258863 4890408 0 17981611 6011729 11969882 122155911 0 0 Common Trusts & similar funds 156808170 F Hedge Funds 23251624 F Venture Capital & private equity funds 108712215 F Real estate funds 30263583 F Miscellaneous funds 1934780 F 320970372 Student loans recievable 875884 C Employee mortgages 1194237 C 2070121 Accrued income receivable 1357219 Funds held in trust by others 3203356 Bond proceeds held in trust 11177268 Other assets 1000 15738843 Interest rate swaption liability 8861069 Planned giving liabilities 8995997 Advances from US Government 747542 Refundable advance 588901 Asbestos ARO liability 610611 Accrued postretirement liability 8999 19813119 132335039 102834008 29501031 12837417 0 1985548 0 7193532 22016497 51517528 134641265 12837417 0 0 8912790 21750207 112891058 0 19443981 19443981 132335039 83123793 0 0 0 -17709667 -17709667 100833460 1985548 15000 2000548 102834008 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Special collections of art and historical treasures serve to advance scholarship and to further teaching, research and service. Special collections range from Quaker collections to college archives to rare manuscripts to fine art assets. The Quaker collection consists of manuscripts, as well as numerous photographs, artworks, artifacts, furniture, and films. The College archives include records, publications and artifacts produced by offices, committees, and student groups. Rare books and manuscript collections strengths include American and English literature, history and politics. Today, the collection of fine art encompasses three areas: material in support of the College curricula, material that documents the College's history and material that documents the history of Quakerism. SchD_P04_S00_L01b Schedule D, Part IV, Line 1b The College is trustee of the William Maul Measey Trust. The College is entitled to 60% of the gross income of the Trust and includes 60% of the Trust assets in its financial statements and Form 990. The remaining 40% of the gross income is distributed to certain secondary schools for student financial aid. The 40% of Trust principal at June 30,2011 was $23,433,000 . The 40% of Trust income distributable to the schools is reported in Lines 1c-f. The secondary schools that currently receive trust income are George School, Westtown School, Scattergood Friends School and Olney Friends School. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College spends a prudent amount of its endowment annually to support the educational mission of the College in accordance with donor restrictions and internal designations. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College evaluated how uncertain tax positions taken or expected to be taken in a tax return should be recognized, measured, presented and disclosed in the financial statements. No adjustments to the financial statements were required as a result of the evaluation. The College will continue to monitor and evaluate its unrelated business income activity. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in contributions receivable $8,694,626; Loss on bond financing $(1,489,228); Grants paid from donor advised fund $15,000; Fixed assets retirements $(26,922); Miscellaneous $56. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Change in contributions receivable $8,694,626; Indirect cost recovery $438,748; Bookstore expenditures $1,241,566; Internal Bookstore rent $54,000; Loss on bond refinancing $(1,489,228); Fixed assets retirements $(26,922) SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Financial aid $19,443,981 SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Financial aid $(19,443,981); Indirect cost recovery $438,748; Bookstore expenditures $1,241,566; Internal Bookstore rent $54,000 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Grants paid from donor advised fund to outside organizations $15,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Such a policy is published in our catalog and other admissions literature. Also, the policy is published in newspapers or on the internet when advertising for employment. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Financial aid or assistance from a governmental agency: FWS $132,574; FSEOG $144,587; PELL $817,587; PELL- Smart grant $68,000; PELL- ACG $57,425; PHEAA-FWS $13,450; PHEAA-IAG $32,660. 1 Middle East and North Africa 0 0 Program Services Scholarships 2188 Sub-Saharan Africa 0 0 Program Services Scholarships 87529 South Asia 0 0 Program Services Scholarships 144109 Europe (including Iceland and Greenland) 0 0 Program Services Scholarships 182504 East Asia and the Pacific 0 0 Program Services Scholarships 128325 Europe (including Iceland and Greenland) 0 0 Program Services Study abroad program fees 696023 Central America and the Caribbean 0 0 Program Services Study Abroad program fees 9384 East Asia and the Pacific 0 0 Program Services Study Abroad program fees 22836 Europe (including Iceland and Greenland) 0 0 Fundraising Five Haverford College employees attended the International Council in London and Paris. The primary purpose was to foster greater awareness of Haverford College internationally and promote greater international emphasis in academic and outreach areas of the College. 24281 South Asia 0 0 Fundraising Employee travel to meet with alumni who can help further long-term and mutually enriching relationships. 4341 East Asia and the Pacific 0 0 Program Services Employee travel to meet with educational institutions to help further collaborative efforts. 972 Central America and the Caribbean 0 0 Investments Endowment foreign passive investments 25969805 North America (including Canada and Mexico, but not the United States) 0 0 Investments Endowment foreign passive investments 812654 0 0 28084951 Scholarships to foreign students Middle East and North Africa 1 2188 cash payment 0 FMV Scholarships to foreign students Sub-Saharan Africa 2 87529 cash payment 0 FMV Scholarships to foreign students South Asia 3 144109 cash payment FMV Scholarships to foreign students Europe (including Iceland and Greenland) 4 182504 cash payment 0 FMV Scholarships to foreign students East Asia and the Pacific 3 128325 cash payment 0 FMV 1 0 0 0 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 The procedures to monitor College scholarships (grant aid) awarded to nonresident aliens are the same procedures as scholarships awarded to citizens of the United States. Haverford College scholarships are based solely on need. Haverford does not have any grant based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. X X X X X X 1 Grezenbach Glier and Associates Inc PO Box 88277 Dept A Chicago IL 606801277 Campaign consultant 0 0 23274 -23274 Plus Delta Partners 6965 El Camino Real Suite 105-488 Carlsbad CA 92009 Campaign consultant 0 0 40220 -40220 0 63494 -63494 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV SchG_P01_S00_L02b Schedule G, Part I, Line 2b Grenzebach Glier & Associates, Inc and Plus Delta Partners provided professional fundraising consulting services for and on behalf of the College. They did not engage in any direct solicitations of contributions for and on behalf of the College and therefore have no custody or control on any College contributions. 1 Germantown Friends School 31 West Coulter Street Philadelphia PA 19144 050630018 501(c)3 6000 0 FMV General support pursuant to the terms of a donor advised fund agreement. 1 0 Scholarships for Haverford College students 578 18899326 0 Cost FSEOG grants for Haverford College students 63 176011 0 Cost Internships for Haverford College students 133 506914 0 Cost SchI_P01_S00_L02 Schedule I, Part I, Line 2 Haverford College scholarships are based solely on need. Haverford does not have any grant aid based on merit. Applicants can be asked to file the College Board Profile and the FAFSA. If eligible for federal aid, parent and student personal and business taxes must also be provided. Supplements for businesses and forms for non-custodial parents may also be required based on circumstances. College policy is reviewed in the form of appeals to the Financial Aid Committee made up of the Dean of Admissions, the Dean of the College, and the VP of Finance and Administration. Haverford scholarships are credited directly to the student's account for tuition, room, board, fees and other billed charges. Supplemental Education Opportunity grants (FSEOG) are awarded based on family contribution. Eligibility is determined by the FAFSA and the regulations determined by the U.S. Department of Education that students who receive Pell Grants be provided FSEOG funds first. Other verification forms may be required if the student is selected including the Verification Statement, parent and student tax returns and non-tax filer statements. FSEOG awards are credited directly to the student's account for tuition, room, board, and other billed charges. FSEOG awards are audited annually by the College's outside auditors in conjuction with the A133 federal funds audit. Student internships are awarded through an application and review process. The internship awards are paid directly to the student. This assistance enables the students to engage in unpaid internships in a variety of domestic and international locations. Some of the areas of studies include Humanities, Global Citizenship, Science and Entrepreneurship. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Stephen G Emerson 372855 0 0 0 14070 0 0 0 113182 0 500107 0 0 0 G Richard Wynn 235158 0 0 0 0 0 0 0 36183 0 271341 0 0 0 Michael Kiefer 253989 0 0 0 0 0 0 0 41007 0 294996 0 0 0 Linda Bell 198364 0 0 0 0 0 0 0 50956 0 249320 0 0 0 Jerry Gollub 197425 0 0 0 0 0 0 0 28044 0 225469 0 0 0 Kimberly Benston 170596 0 0 0 0 0 0 0 34319 0 204915 0 0 0 Curtis Greene 165286 0 0 0 0 0 0 0 0 0 165286 0 0 0 Linda Gerstein 148115 0 0 0 0 0 0 0 24425 0 172540 0 0 0 Joseph Spadaro 146250 0 0 0 0 0 0 0 32585 0 178835 0 0 0 Ashok Gangadean 143395 0 0 0 0 0 0 0 30565 0 173960 0 0 0 Martha Denney 143167 0 0 0 0 0 0 0 28770 0 171937 0 0 0 Jess Lord 129504 0 0 0 0 0 0 0 30940 0 160444 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a TRAVEL FOR COMPANIONS: Stephen Emerson. President, agreed in his employment contract to spousal travel. Haverford College will reimburse the President for reasonable and customary travel expenses when his spouse travels with him on official College business. Travel expenses are reviewed for business purpose and reimbursed according to an accountable plan. Stephen Emerson's spouse is a professor at Haverford College. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: Stephen Emerson, President and Linda Bell, Provost, reside on Haverford College's campus free of rent. Martha Denney, Dean of the College, resides on the College's campus at a subsidized rent. Neither travel for companions nor residence for personal use represents taxable compensation to the listed individuals. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 President Stephen Emerson has an arrangement with the College, allowable under the IRS Code, that permits him to tax defer more of his earning than the standard amount he would be allowed to do under the College's 403(b) plan. This additional tax deferral was done as a 457(f) Deferred Compensation Agreement. Delaware County Authority 231973437 246003LH8 2008-05-08 61000000 Cap improvements to College facilities and redemption 2003 0 0 0 Delaware County Authority 231973437 246003LX3 2010-04-29 44944290 New dorm and partial refund 2008 Bonds 0 0 0 Delaware County Authority 231973437 246003MG9 2010-11-15 45929465 Refund 2000 Bonds 0 0 0 31357457 0 61000000 0 0 0 651393 0 0 6798560 0 0 2009 1 0 1 1 622795 0 44944290 0 1535278 0 531618 0 0 2730419 0 11146978 1 0 1 1 584784 0 45929465 0 0 0 454538 0 0 0 24928 0 2011 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 Deutsche Bank 20 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 SchK_P04_S00_L03a Schedule K, Part IV, Line 3a Delaware County Authority Series 2008 Bond issue hedge: During 2010-11, UBS terminated the existing hedge by exercising their option to do so on 11/15/10. A new hedge agreement with Deutsche Bank was put into place on 11/15/10. Michael Keifer Home mortgage X 500000 456321 0 0 1 Joseph Spadaro Home mortgage X 320000 316535 0 0 1 Linda Bell Home renovation mortgage X 29757 26766 0 0 1 799622 Jennifer Punt Spouse of officer 110373 Employee compensation 0 Carol Solomon Spouse of officer 65700 Employee compensation 0 X 8 43235 FMV X 1821 Input at $1 X 2041 Cost X 85 1059622 FMV X 2 266253 FMV X 2 301 Cost X Archival records 11 11 Input at $1 X Equipment 1 1557 FMV 2 0 1 0 F990_P01_S00_L05 Form 990, Part I, Line 5 The number of employees includes regular faculty, administration and staff, student and temporay summer employees. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Howard Lutnick, manger, had a business relationship with the following managers: Elon Spar, Stephen Curwood and Linda Bell. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Corporation of Haverford College has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers for at least six consecutive years. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Corporation of Haverford College ("the Corporation") has one class of members who may include any member of the Religious Society of Friends, anyone who has served as President of the College or as a member of the Board of Managers (the Board") for at least six consecutive years. The Corporation formally elects members of the Board, including those nominated by it, by the Board and by the Alumni Association. The Corporation makes any amendments to the bylaws. The Corporation seeks by advice and example to strengthen and enrich Haverford's heritage as a Quaker educational institution. The Board has responsibility for all aspects of the operation and management of the College. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The College's Audit Committee reviewed the Form 990 before it was filed. The Form 990 was sent to all Board members before being filed, noting that it was reviewed and approved by the Audit Committee. The Form 990 will be available on the College's website. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each year a questionnaire is handed out and sent electronically to Board members, officers and key employees. The President's office tracks and ensures compliance with completing and submitting the conflict of interest questionnaire. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined after an annual review by the Board's Committee on Presidential Compensation and Review. The review along with private college executive compensation surveys help determine the President's salary. The President reports to the Board relating to the annual process for determining the compensation of other officers (VP Finance and Administration, VP Institutional Advancement, Provost, Dean of the College, Chief Information Officer and Dean of Admissions). The Committee on Presidential Compensation and Review reports on both of these procedures to the Board in executive session. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College's financial statements and conflict of interest policy are available to the general public through our website, Guidestar's website and upon request. Currently, the College does not publish our governing documents, however, these are available upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized gains $12,837,417; Investment expenses $1,985,548; Change in contributions receivable $8,694,626; Loss on bond refinancing $(1,489,228); Grants paid from donor advised fund $15,000; Fixed asset retirements $(26,922); Miscellaneous adjustment $56.