2012-05-14T11:57:27-04:00 2011-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2010-07-01 240795686 Lafayette College LAFA 6103305136 730 High St 202 Markle Hall Easton PA 180421779 MITCHELL L WEIN 6103305136 2012-05-14 true 2155614200 2010 2016-02-24 21:20:13Z Dr Daniel H Weiss President 730 High St 202 Markle Hall Easton PA 180421779 270581638 false X www.lafayette.edu X 1832 PA Provision of educational services as an accredited four-year undergraduate college. 34 30 2533 4542 1162916 239527 14985223 27250856 115460202 119192411 22558150 27504515 1293269 1335842 154296844 175283624 34794844 34400620 0 0 68802760 69805827 26371 28576 3409519 64046527 70896677 167670502 175131700 -13373658 151924 934713850 1014954297 265523172 263933495 669190678 751020802 X MISSION STATEMENT AS APPROVED 5/28/83 BY THE BOARD OF TRUSTEES: IN AN ENVIRONMENT THAT FOSTERS THE FREE EXCHANGE OF IDEAS, LAFAYETTE COLLEGE SEEKS TO NURTURE THE INQUIRING MIND AND TO INTEGRATE INTELLECTUAL, SOCIAL, AND PERSONAL GROWTH. THE COLLEGE STRIVES TO DEVELOP STUDENTS' SKILLS OF CRITICAL THINKING, VERBAL COMMUNICATION, AND QUANTITATIVE REASONING AND THEIR CAPACITY FOR CREATIVE ENDEAVOR: IT ENCOURAGES STUDENTS TO EXAMINE THE TRADITIONS OF THEIR OWN CULTURE AND THOSE OF OTHERS, TO DEVELOP SYSTEMS OF VALUES THAT INCLUDE AN UNDERSTANDING OF PERSONAL, SOCIAL, AND PROFESSIONAL RESPONSIBILITY, AND TO REGARD EDUCATION AS AN INDIPENSIBLE, LIFE-LONG PROCESS. false false 89517284 25000 96175559 Instruction, Research, Student Services provided for both 2,362 full-time students (Fall 2010 semester) including 2 non-degree candidates and 52 additional part-time students, including 37 non-degree candidates. Also includes site revenues and expenses for the Johns Hopkins University Center for Talented Youth Program. Public Service - Greater Easton Development Partnership for Easton Clean and Safe City program. Student Services include Enrollment Management (Admissions and Financial Aid), Registrar, Health and Counseling Centers, Dean of Students, Multicultural Affairs, Cultural Programs, Intramurals/Recreation, Intercollegiate Athletics, Religious Programs, Career Services, Student Activities and Student Organizations support. Academic Support includes services such as Libraries (2), Information Technology, Academic Counseling, Course & Curriculum Development and Faculty Recruitment. 34375620 34375620 0 Undergraduate Scholarships/Grants to Students (1,220 students, including 2 foreign exchange) through the College's Financial Aid Office ($34,062,127). Prizes, Awards and Fellowships and other awards ($148,556) to approximately 166 students and net HELP Loan Interest Subsidy Expense ($164,937) for approximately 224 Borrowers. 21936150 0 23016852 Auxiliary Services: Student Residence - Approximately 2,223 (Fall 2010 semester) resided in the College's Residence Halls, Fraternities/Sororities and College-owned off campus residences. Also includes Dining Services (all day students must participate in the Dining program). 145829054 true true false true false false true false true true true false false true true true false true true true false true true true false false true true true true false false false false false false false false false true true true false false false false false false false false true 4118 0 true 2533 true true true false false false false true true false false false false X 34 30 true true true false false false false true true false false true true true true true true true true false PA X X PAUL ZIMMERMAN CONTROLLER 6103305137 730 HIGH ST 202 MARKLE HALL Easton PA 18042 EDWARD W AHART 5.0 X 0 0 0 CARL G ANDERSON JR 2.0 X 0 0 0 MARY STENGEL AUSTIN 2.0 X 0 0 0 MARGARET G AXELROD 2.0 X 0 0 0 SUSAN B CARRAS 3.0 X 0 0 0 SAMUEL R CHAPIN 2.0 X 0 0 0 JOSEPH T COX 2.0 X 0 0 0 JEFFREY P FEATHER 2.0 X 0 0 0 JAMES R FISHER 2.0 X 0 0 0 BRENT D GLASS 2.0 X 0 0 0 ALAN R GRIFFITH 2.0 X 0 0 0 RICHARD A GROSSMAN 2.0 X 0 0 0 MARTHA A HEINZE 2.0 X 0 0 0 GEORGE M JENKINS JR 3.0 X 0 0 0 HAROLD N KAMINE 3.0 X 0 0 0 JEFFERSON W KIRBY 2.0 X 0 0 0 NANCY J KUENSTNER 5.0 X 0 0 0 BARBARA LEVY 3.0 X 0 0 0 Judson C Linville 2.0 X 0 0 0 ELISABETH H MACDONALD 3.0 X 0 0 0 BRUCE MAGGIN 3.0 X 0 0 0 PAUL F MCCURDY 2.0 X 0 0 0 ANGEL L MENDEZ 3.0 X 0 0 0 DONALD E MOREL JR 2.0 X 0 0 0 MICHAEL E MOSKOW 2.0 X 0 0 0 STEPHEN D PRYOR 5.0 X 0 0 0 J B REILLY 2.0 X 0 0 0 S KENT ROCKWELL 2.0 X 0 0 0 DAVID M ROTH 3.0 X 0 0 0 ALMA R SCOTT-BUCZAK 2.0 X 0 0 0 ROBERT E SELL 2.0 X 0 0 0 J PETER SIMON 3.0 X 0 0 0 SYLVIA DANIELS WEAVER 2.0 X 0 0 0 DANIEL H WEISS 65.0 X X 447906 0 151175 MITCHELL L WEIN 65.0 X 281794 0 46272 WENDY L HILL 75.0 X 253652 0 67369 JAMES W DICKER 55.0 X 236530 0 41772 LESLIE F MUHLFELDER 55.0 X 223127 0 43244 ROBERT J MASSA 60.0 X 216550 0 36472 JAMES F KRIVOSKI 60.0 X 173353 0 56329 SHIRLEY M RAMIREZ 55.0 X 87002 0 27218 PAUL H ZIMMERMAN 50.0 X 182530 0 35982 FRANCIS B O'HANLON 55.0 X 206118 0 41684 BRUCE A MURPHY 45.0 X 188394 0 40243 WILLIAM M CRAIN 45.0 X 184291 0 40890 JOHN KINCAID 45.0 X 180580 0 35951 JEFFREY E GOLDSTEIN 50.0 X 167947 0 38274 3029774 0 702875 103 false true false Sodexo Inc Affiliates 6081 Hamilton Blvd ALLENTOWN PA 18106 Dining Services 6265770 Whiting-Turner Contracting Co PO Box 17596 BALTIMORE MD 21297 Construction 1477052 Elliott International 40 West 57th St NEW YORK NY 10019 Investment Manager 970460 Allied Building Corp 575 Main St Suite 200 BETHLEHEM PA 18018 Construction Srvcs 839491 Archstone Partners 360 Madison Ave 20th Floor NEW YORK NY 10017 Investment Custodian 807281 62 35875 3393032 23821949 2646892 27250856 TUITION & FEES 900099 94210402 94210402 AUXILIARY SERVICES 900099 22586206 22586206 ATHLETICS/SPORTS NETWORK 900099 1284475 1284475 JOHNS HOPKINS CTY 900099 628144 628144 SUMMER DINING 900099 430646 430646 52538 52538 119192411 12906457 692753 12213704 389 389 0 643467 588020 55447 55447 55447 107426831 1600 92830762 0 14596069 1600 14597669 404086 14193583 35365 35875 38162 -2797 -2797 0 2079889 1841070 238819 41077 197742 FEES, FINES, AND COST RECOVERY 900099 551694 551694 STUDENT TELECOMMUNICATIONS 517000 230615 230615 MISCELLANEOUS 900099 262064 25000 237064 1044373 175283624 119192411 1162916 27677441 25000 25000 34123620 34123620 252000 252000 0 2033330 95680 1735750 201900 0 49449631 38374520 9342587 1732524 4336464 3142223 1037883 156358 10320063 7477966 2469989 372108 3666339 2656648 877496 132195 0 344043 689 338846 4508 272927 0 272927 0 120515 0 120515 0 28576 28576 10867907 10867907 7667205 4157049 3407365 102791 85714 40825 44889 2642670 1639079 714777 288814 1352293 1044706 307587 0 2879766 791 2878975 4706944 4156997 379730 170217 0 624669 429349 92207 103113 7703550 7509085 194465 0 13289478 12881591 407887 800404 251360 544111 4933 AUXILIARY SERVICES 10333364 10333364 0 0 NON-OFFICE SUPPLIES 2512013 1477531 1034482 0 MAINT, TAXES, BOND ISSUANCE 1078294 267827 809863 604 RECRUITING EXPENSES 817209 794975 22234 0 ALLOC OF INDIRECT OVERHEAD 0 12965049 -12965049 0 2797712 1731130 955704 110878 175131700 145829054 25893127 3409519 17820 17145 48642980 67189238 11859861 12711354 1204477 1176299 4274572 4466621 578542 647220 3058493 3015773 435788135 182868934 258866175 252919201 186169458 232212788 411885210 434224980 8156262 6373678 934713850 1014954297 47713476 44135909 2000200 2006913 6944143 6382568 171245904 170788606 134945 89907 37484504 40529592 265523172 263933495 X 211363818 238315659 211395935 249877464 246430925 262827679 669190678 751020802 934713850 1014954297 X 151924 81678200 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 120515 120515 175011185 175131700 1000000 250000 0 0 120699 120515 241214 361821 120699 120515 241214 250000 250000 500000 750000 0 0 0 PART II-A, LINE 1B A firm was engaged for the direct lobbying of congressmen and senators. 137800 2455034 X X X X false 571722078 12832458 96467560 7952953 21701572 1779684 649587887 526566830 2968035 74861818 8142053 23057047 1475505 571722078 674092733 9312825 -124340445 8848524 21990211 1659548 526566830 0.22560 0.40460 0.36980 true false 4035752 4035752 317720103 108241541 209478562 0 74256188 61556835 12699353 39776092 13070558 26705534 252919201 EQUITY INSTIT. MUTUTAL FUNDS 67209459 F EQUITY MUTUAL FUNDS 3154780 F ALTERNATIVE INSTRUMENTS 363193627 F UNITED EDU SUBSCRIBER SAVINGS 281257 C INSURANCE POL, L C IS BENEFICI 353018 C CO-OP EQUITY INTEREST (E & I) 15234 C COMMONWEALTH ANNUITY 17605 C 434224980 310719 INT RATE HEDGE/SWAP AGREEMENTS 11643035 AGENCY FUNDS 2025788 ASSET RETIREMENT OBLIGATION (F 6041111 ANNUITIES PAYABLE 20508939 40529592 175283624 175131700 151924 69917808 0 8774474 0 2985918 81678200 81830124 214579488 69917808 0 0 -30996174 38921634 175657854 2093022 -2467252 -374230 175283624 132749364 0 0 0 2467252 2467252 130282112 10867496 33982092 44849588 175131700 COLLECTIONS OF ART, HISTORICAL TREASURES, ETC. FORM 990, SCHEDULE D, PART III, LINE 4 Among the rich resources provided for students is a fine, small art collection comprised mostly of gifts from generous alumni and other donors. The collection includes eighteenth-through early twenty-first century American and European paintings, prints, and sculpture; vintage photographs; and contemporary American sculpture and paintings. Recent acquisitions build on the strength of the existing collections. The mission statement for the art collection is to document, preserve for future generations, exhibit, and make accessible the College's art collection to the students, public, and scholars through exhibitions, publications, reproductions, and by granting access for research purposes. The administration of the art collection complies with museum-field wide standards of care (see American Association of Museums, AAM). Students have curated exhibitions from the collections; When appropriate, artwork is loaned to other institutions for exhibitions of scholarly importance; images of artwork are readily available for reproduction in commercial (ex: text books) and academic-scholarly publications (generally at no charge or nominal fee.) Lafayette College's Special Collections and College Archives: The Lafayette Special Collections and College Archives are home to approximately 20,000 rare books and more than 2,000 cubic feet of manuscripts and archives. The holdings include manuscripts, rare books, prints and memorabilia relating to the Marquis de Lafayette; rare book collections on Stephen Crane, angling, miniature books, and artists' books; papers of former Treasury Secretary William E. Simon, New Jersey Governor Robert B. Meyner and Congresswoman Helen Meyner; the early records of the Easton-based Dixie Cup Company and the papers of noted illustrator and artist Howard Chandler Christy. The College Archives serves as the repository for the records of Lafayette College, dating back to the founding of the College in 1824-1826. It is charged with records management responsibilities for current College records. The Archives also includes more than 50,000 photographs, audio-visual recordings, and objects that document the College's history. ENDOWMENT INVESTMENT GUIDELINES FORM 990, SCHEDULE D, PART V The intent of the College's Investment Guidelines for its endowment is to provide a predictable stream of funding for the College's programs from the endowment while seeking to maintain the purchasing power of the endowment assets. Program and Capital Assets expenses supported from the endowment operating distribution include Student Financial Aid Grants, Prizes and Fellowships ($7,952,900). Instruction ($6,969,200), Research ($102,200), Academic Support ($746,700 - includes Libraries of $622,000), Intercollegiate Athletics ($184,300), Student Services ($1,048,600), Operation and Maintenance of Plant ($1,827,400, including Auxiliary Services). The College also utilized an additional $10,823,200 of Unrestricted Endowment Income and realized gains in support of budgeted operations. The Administrative expenses reported ($1,779,700) are primarily the required distributions of Annuity Funds principal to fund annuitant payments ($1,733,000) as reported in the non-operating section of the College's Statement of Activities for the year ended June 30, 2011. Certain restricted endowments also provide that income can be used for facilities capital projects expenses and to fund student loans. FIN 48 FOOTNOTE FORM 990, SCHEDULE D, PART X, LINE 2 The College has been granted tax exempt status as a nonprofit organization under Section 501(c)(3) of the Internal Revenue Code, and accordingly, files federal tax Form 990 (Return of Organization Exempt from Income Tax) annually. The College also files federal tax Form 990-T (Exempt Organizations Business Income Tax Return) on net income of unrelated business activities. The College estimates an income tax liability of $450,000 for the Form 990-T for the year ended June 30, 2011, of which $139,281 has been prepaid as of June 30, 2011. The College's federal and state income taxes for the year ended June 30, 2010 were $300. A tax position is recognized or derecognized by the College based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The College does not believe its financial statements include uncertain tax positions. RECONCILIATION OF CHANGE IN NET ASSETS FORM 990, PART XI, LINE 8 CHANGE IN ANNUITIES PAYABLE ESTIMATE (3,598,000) DISTRIB FROM PRINCIPAL TO FUND ANNUITIES PAYABLE (1,733,030) CHANGE IN MV OF INTEREST RATE SWAP AGREEMENTS 1,178,367 PROVISION FOR UNCOLLECTIBLE NON OP PLEDGES REC 2,873,410 LOSS ON DISPOSAL OF PROPERTY, PLANT & EQUIPMENT (339,829) GAIN ADJUSTMENT FOR EXPERIENCE OF EARLY RETIREMENT COST 4,605,000 ----------- TOTAL $2,985,918 =========== RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART XII LINE 2D: FINANCIAL AID GRANTS TO STUDENTS (34,062,127) ENDOWMENT AGENCY (57,765) CHANGE IN ANNUITIES PAYABLE ESTIMATE (3,598,000) DISTRIB FROM PRINCIPAL TO FUND ANNUITIES PAYABLE (1,733,030) CHANGE IN MV OF INTEREST RATE SWAP AGREEMENTS 1,178,367 PROVISION FOR UNCOLLECTIBLE NON OP PLEDGES REC 2,873,410 GAIN ADJUSTMENT FOR EXPERIENCE OF EARLY RETIREMENT COST 4,605,000 LOSS ON DISPOSAL OF PP&E (339,829) GIFTS IN KIND ADJUSTMENT 137,800 ------------ TOTAL LINE 2D: ($30,996,174) ============ LINE 4B: FUNDRAISING REVENUES TO EXTENT EXPENDED (38,162) RENTAL REVENUES TO EXTENT EXPENDED (588,020) COLLEGE STORE (COGS) REVENUES TO EXTENT EXPENDED (1,841,070) ----------- TOTAL LINE 4B: ($2,467,252) =========== RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XIII LINE 2D: FUNDRAISING REVENUES TO EXTENT EXPENDED 38,162 RENTAL REVENUES TO EXTENT EXPENDED 588,020 COLLEGE STORE (COGS) TO EXTENT EXPENDED 1,841,070 ----------- TOTAL LINE 2D $2,467,252 =========== LINE 4B: FINANCIAL AID GRANTS TO STUDENTS 34,062,127 ENDOWMENT AGENCY 57,765 GIFTS IN KIND ADJUSTMENT (137,800) ----------- TOTAL LINE 4B: $33,982,092 =========== true true true true true true true false false false false false false false false true false true Racial Nondiscriminatory Policy Form 990, Schedule E, Part I, Line 3 Via Website http://catalog.lafayette.edu (see Non-discrimination Policy Statement). Also on Website, see separate Diversity and Inclusiveness Statement. Financial Aid from a Governmental Agency Form 990, Schedule E, Part I, Line 6a Federal grants: Federal Pell Grant Program Federal Supplemental Educational Opportunity Grants (SEOG) Federal Work-Study Program National Science and Mathematics Access to Retain Talent/SMART Grants/ACG Program. National Science and Mathematics Access to Retain Talent/SMART Grants Federal Direct Loan Programs (Stafford & PLUS Programs) Federal Perkins Loan Program National Endowment for the Arts Commonwealth of Pennsylvania: Institutional Assistance Grant (IAG) PHEAA State Grants to Students Pa Work-Study Redevelopment Assistance Capital Program (RACP) Pa Council of the Arts PCLB Underage Drinking Research Nazareth Boro Waste Water true Europe (Including Iceland and Greenland) 0 2 Program Services INSTRUCTION 45504 197687 Europe (Including Iceland and Greenland) 0 1 Program Services INSTRUCTION 45508 420506 Europe (Including Iceland and Greenland) 0 1 Program Services INSTRUCTION 45511 495371 Europe (Including Iceland and Greenland) 0 2 Program Services INSTRUCTION 28210 139604 Europe (Including Iceland and Greenland) 0 2 Program Services INSTRUCTION 28211 75330 Europe (Including Iceland and Greenland) 0 2 Program Services INSTRUCTION 28213 100592 Europe (Including Iceland and Greenland) 0 2 Program Services INSTRUCTION 28219 70845 East Asia and the Pacific 0 2 Program Services INSTRUCTION 28223 104704 Sub-Saharan Africa 0 2 Program Services INSTRUCTION 28225 138906 Sub-Saharan Africa 0 2 Program Services INSTRUCTION 28230 28266 South America 0 2 Program Services INSTRUCTION 28231 126260 Middle East and North Africa 0 2 Program Services INSTRUCTION 28232 98196 Europe (Including Iceland and Greenland) 0 1 Fundraising 3000 Central America and the Caribbean Investments 184926457 Europe (Including Iceland and Greenland) Investments 16324607 North America Investments 51600259 South Asia Investments 15609198 0 23 0 23 270459788 270459788 STUDENTS STUDY ABROAD Europe/Iceland/Greenland 11 206700 ACCT CREDIT FMV STUDENTS STUDY ABROAD East Asia/Pacific 2 30200 ACCT CREDIT FMV STUDENTS STUDY ABROAD Cent. America/Caribbean 1 15100 ACCT CREDIT FMV true false false false true false FORM 990, SCHEDULE F, PART 1 LINE 1 The College considers the awarding of financial aid (primarily grants (scholarships), loans and work-study) to its students (including non-resident alien students) to be a U.S. Based activity. The Financial Aid Office maintains records to: 1) substantiate the amount of the grants and other financial aid awarded, 2) document each grantee's eligibility for the grant and other financial aid sources and 3) document the selection criteria used to award the grant and other financial aid. MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. FORM 990, SCHEDULE F, PART I, LINE 2 The College recruits, admits and enrolls top qualified students from all parts of the world and all Lafayette students are both encouraged and eligible to participate in numerous affiliated study-abroad (off- campus) programs for a semester, academic year and the January/May Interim Sessions. Students, who are approved to participate in these programs, are billed by Lafayette for Tuition, any related Room and Board fees and other related program charges. The student's grant and other financial aid for that term, interim or academic year are credited to the student's Lafayette College account to cover the educational related charges/expenses. It is possible that the total financial aid could exceed the billed expenses resulting in a credit balance and the possibility of the student receiving a refund check. If appropriate, the College will issue the refund check to the student in order to cover any related educational expenses that the College had not billed. The Office of Financial Aid maintains an itemized breakdown of the cost of attendance used to determine and award financial aid for all students (domestic and/or international.) Awards are based on the standard approved charges for the College in any given academic year as well as other eligibility criteria (enrollment, academic standing, housing status, etc.) Any costs for study abroad opportunities that may exceed Lafayette's cost of attendance must be covered by the student and family. Students are encouraged to consult with the Office of Financial Aid and Study Abroad as they evaluate their options. X X X X X X X true WASHBURN MCGOLDRICK INITIATIVE PLAN false 0 28576 -28576 0 28576 -28576 FALL MC GOLF 39410 23470 15940 4147 10544 3780 445 SPR MC GOLF 31830 12405 19425 2666 8274 6231 2075 0 71240 35875 35365 6813 18818 10011 2520 38162 -2797 FORM 990, Schedule G, Part I, Line 3 NONE- AS AN ACCREDITED, LICENSED INSTITUTION OF HIGHER EDUCATION, THE COLLEGE BELEIVES IT IS GENERALLY EXEMPT FROM THE REGISTRATION PROVISIONS THAT REQUIRE ORGANIZATIONS SOLICITING FUNDS FOR CHARITABLE PURPOSES TO REGISTER. true GREATER EASTON DEVELOPMENT 158-B NORTHAMPTON ST EASTON PA 18042 232660344 501(c)(3) 25000 1 0 UNDERGRADUATE SCHOLARSHIP GRANTS 1220 34062127 FMV CREDIT STUDENT ACCT HELP INTEREST SUBSIDY - PAID DIRECT BY COLLEGE 224 164937 FMV COLLEGE PAYS TO BANK ACADEMIC PRIZES, AWARDS, FELLOWSHIPS, INTERSHIPS 166 148556 FMV MONITORING OF GRANTS USED IN U.S. FORM 990, SCHEDULE I, PART I, LINE 2 The College awards scholarships, need-based grants, student loans and fellowships to students based on a committee and/or individual review of student aid applications. Relevant criteria include academic and/or other achievement and financial need (as supported by income tax return detail). For certain student and /or parent loans, a credit check of the student and/or parent(s) is also performed. Fellowships are awarded based on a review by the applicable academic department. The College calculates a cost of attendance that includes both the education costs billed by the College (such as Tuition, Fees, Room and Board) and educational costs not billed by the College (such as Books, Travel and Other Incidentals). Based on the student's cost of attendance and the Financial Aid Office's determination of eligibility, the student's financial aid award for the academic year is determined. This award may include scholarships/grants, loans and student employment. For scholarships/grants and student loans, that aid is credited to the student's account and is applied to billed charges. Student employment wages are paid through payroll. For the HELP Loan program interest subsidy, the College pays that expense directly to the lending bank. If a student's account has a credit balance after all applicable College charges and financial aid is posted, the College will issue a refund check to the student. If a student has a credit balance for the Fall Semester, the student may choose instead to carry that credit balance forward for application to either Interim Session or Spring semester charges. Normally, credit balance refund checks are made payable to the student. The credit balance refund check may be made payable to the parent or guardian if the credit balance resulted from applying a Parent Federal Plus Loan to the student's account. It is assumed by the College that credit balance refunds are used to pay for educational costs that were included as part of the student's cost of attendance calculation but not billed by the College X X X X false true X X X X X false true false false false false false false false DANIEL H WEISS 412819 0 5000 0 30087 0 23275 0 127900 0 599081 0 0 0 MITCHELL L WEIN 262769 0 15000 0 4025 0 23275 0 22997 0 328066 0 0 0 WENDY L HILL 244619 0 5000 0 4033 0 23275 0 44094 0 321021 0 0 0 JAMES W DICKER 191863 0 2500 0 42167 0 18900 0 22872 0 278302 0 0 0 LESLIE F MUHLFELDER 210730 0 10000 0 2397 0 20701 0 22543 0 266371 0 0 0 ROBERT J MASSA 211267 0 2500 0 2783 0 20150 0 16322 0 253022 0 0 0 JAMES F KRIVOSKI 169000 0 2000 0 2353 0 16226 0 40103 0 229682 0 0 0 PAUL H ZIMMERMAN 150809 0 10000 0 21721 0 14820 0 21162 0 218512 0 0 0 FRANCIS B O'HANLON 199219 0 1000 0 5899 0 19314 0 22370 0 247802 0 0 0 BRUCE A MURPHY 184863 0 0 0 3531 0 17846 0 22397 0 228637 0 0 0 WILLIAM M CRAIN 175456 0 0 0 8835 0 17595 0 23295 0 225181 0 0 0 JOHN KINCAID 178679 0 0 0 1901 0 17380 0 18571 0 216531 0 0 0 JEFFREY E GOLDSTEIN 161856 0 5000 0 1091 0 15770 0 22504 0 206221 0 0 0 COMPENSATION INFORMATION FORM 990, SCHEDULE J, PART I Part I, Line 1a Travel for Companions - By employment contract, in the event that the College requests President Weiss' spouse to accompany him on College-related business, her reasonable expenses will be paid by the College. While not an employee of the College, the President's spouse serves an important role at both Board and other College functions, including for example, accompanying the President for off-campus fundraising activities. For such fundraising activities, the President's spouse is assigned duties to carry out on behalf of the College in advance of such event. For calendar 2010, such estimated expenses were included as nontaxable benefits in this return. Part I, Line 1a Tax Indemnification - During calendar year 2010, James Dicker (Vice President Development and College Relations) received additional reported contract compensation of $31,995, including Tax Equalization Payments totaling $12,350. A separate 2010 payment of $3,344 for Tax Equalization of calendar 2009 compensation is also included as reportable compensation. Part I, Line 1a - Housing Allowance or Residence for Personal Use - As part of their employment contracts and for the convenience of the College, a College-owned residence was provided to Officers Daniel Weiss (President), Wendy Hill (Provost), James Krivoski (acting as both Vice President for Student Affairs and Assistant to the President) and Shirley Ramirez (Vice President for Institutional Planning and Community Engagement) during calendar 2010. This housing is located on College property and provided in conjunction with these officers' duties. The values of the housing provided and included as nontaxable benefits in this return are Weiss ($47,287, excluding housekeeper), Hill (20,391), Krivoski ($24,687) and Ramirez ($9,596 - for four months). It is the Board's policy that the President resides in the President's House (515 College Ave). The President determines if the duties of the other Officers require each Officer to reside in a College-provided facility. Part I, Line 1a - Health or Social Club Dues or Initiation Fees - During calendar year 2010, there were no Health/Social Club dues or Initiation fee items. The President cancelled membership in a local country club during calendar 2009. Part I, Line 1a - Personal Services (Maid, Chauffeur) - By employment contract, the President is required to reside in the President's House. The College provides household staff, gardening and snow removal services. The calendar 2010 salary and estimated fringe benefits for the housekeeper (.88 FTE) was $52,450 and is included as a non-taxable benefit in this return. Part I, Line 4a - Severance Payments - During calendar year 2010, there were no severance payment items. Part I, Line 4a - Non-Qualified Retirement Plan - The College provides a non-qualified Sec 457 retirement plan benefit for Officers Daniel Weiss, Mitchell Wein and Wendy Hill. For calendar 2010, the College contributions were $16,393 for Dr. Weiss, $2,138 for Mr. Wein and $351 for Dr. Hill and were included in 2010 Medicare wages. Northampton City GPA Rev Bonds Ser 2010 233007498 66353LAY3 2010-04-30 26689800 REFUND SER OF 2000, VAR CAP PR false false false NORTHAMPTON CTY GPA COL REF & REV SER 2008 233007498 66353LAX5 2008-08-21 98638389 RETIRE 97, 04, 04 2ND, NOTES, false false false NORTHAMPTON CTY GPA VAR REV SER OF 2006 233007498 66353LAG2 2006-09-14 15100000 RENOV/CONSTRUCTION/RELOCATE AT false false false NORTHAMPTON CTY GPA VAR REV REF SER 2003 233007498 66353LAA5 2003-04-02 10190000 REFUND SER OF 1993 ON 07/01/03 false false false 0 0 26690197 0 0 0 0 0 0 0 22290000 4400197 2012 true false false true 500000 0 98649998 0 0 0 0 0 696 5983857 92335000 330445 2012 true false false true 1000000 0 15312344 0 108121 0 0 0 10709 15193514 0 0 2007 false false true true 0 0 10190000 0 0 0 0 0 0 0 10190000 0 2003 false true true true false false false false 0.00000 0.00000 0.00000 true false false true false true 0.01000 0.00000 0.01000 true false false false false 0.00000 0.00000 0.00000 true 0.00000 0.00000 0.00000 false true false false false false false false false false false false false true false false false false false true false false false false Schedule K, Part I, Line 1 Series 2010 is one integrated structure as reported on IRS Form 8038. It is comprised of two sub-components, Series 2010 A & Series 2010 B. Series 2010 A was issued for the purpose of a May 2010 refunding. Series 2010 A had proceeds of $22,290,000 and is structured as variable rate debt. Series 2010 B, which was issued simultaneously with Series 2010 A and, as mentioned previously, is integrated with Series 2010 A, had total proceeds of $4,399,860. The Series 2010 B component is structured as fixed rate debt and was issued to fund various capital projects. Schedule K, Part III, Line 3 The College contracts with Sodexo Dining Services, a for-profit corporate entity, for the management of the dining operations on campus. The current contract is structured such that the preponderance of fees is based on a per capita charge, and the contract has a one-year term. A small portion of the proceeds of the Series 2008 Bonds were used to renovate one of the seven dining venues on campus, but given its nature and term, the College, with the advice of counsel, believes the contract with Sodexo is a Qualified Management Contract and not subject to private use. Schedule K, Part IV, Line 3 The College has three (3) interest rate hedging contracts in place. These contracts were entered into to mitigate the College's interest rate risk inherent with variable rate structured debt. Each requires the College to pay a fixed rate in return for a variable rate that is expected to approximate the interest rate payable on the College's debt in typical markets. None of the three interest rate hedging agreements are structured as "qualified" hedges on the records of the issuing authority of any of the College's bonds, which is the Northampton County General Purpose Authority. As such, none of the interest rate hedges are integrated for tax purposes with a particular debt issuance of the College. UBS is the counterparty on each of the interest rate hedges and they have scheduled expiration dates of 2023, 2030, and 2034. SAMUEL R CHAPIN OFFICER BOA MERRILL LYNCH 61957 ISSUANCE/REMKTG OF BONDS false ANGEL L MENDEZ KEY EMPL CISCO SYSTEMS 210704 COLLEGE SUPPLIER false S Kent Rockwell Principal - Prograss 74750 COLLEGE SUPPLIER false Interested Party Transacations Schedule L, Part IV Samuel R. Chapin - Trustee Chapin is an officer of Bank of America (BOA) Merrill Lynch. The College utilized BOA Merrill Lynch for the remarketing of its bonds and paid $61,957 for this service. Angel L. Mendez - Trustee Mendez is a key employee of Cisco Systems, which is a supplier to the College. During the year, no payments were made to Cisco. However, payments totaling $210,704 were made to Cisco's partners and suppliers. S. Kent Rockwell - Trustee Rockwell is a principal owner of Prograss, a supplier to the College. During the year, a payment of $74,750 was made to Prograss. X 3 131000 APPRAISAL X 22339 APPRAISAL X 53 2635926 HIGH/LOW OF DAILY MV X 1 100 APPRAISAL X EVENTS & SILENT AUCTIONS 10 10013 PAID RECEIPT X LAMP POSTS 1 57393 PAID RECEIPT X QUILT 1 946 PAID RECEIPT X GOOD, SERVICES, ADV 7 62175 PAID RECEIPT 0 false true true Schedule M, Line 32a To the extent that the College receives donations of securities, its investment broker/manager is tasked with selling those securities. OFFICER/DIRECTOR/TRUSTEE RELATIONSHIPS Form 990, Part VI, Section A, Line 2 Trustees Kamine and Fisher have a business relationship. Trustee Cox and Officer Muhlfelder have a business relationship. Management Company Details Form 990, Part VI, Section A, Line 3 The College contracts with Sodexo Dining Services to manage its academic year dining, summer dining and campus catering operations. The 2010-11 expenses incurred for the student-related program are included as part of Auxiliary Services expenses (Form 990, Part IX, Line 24b). For calendar year 2010, the College paid a total of $6,265,770 to Sodexo for these services as disclosed in Form 990, Part VII, Section B. Significant Changes to Organizational Documents Form 990, Part VI, Section A, Line 4 There was one amendment to the Statutes (Section 46H) approved during the 2010-11 tax year as summarized below: A Faculty member was added to the Committee on Audit. Form 990 Review Process Form 990, Part VI, Section B, Line 11A The Form 990 return is prepared by the College's Administration and forwarded to the College's outside tax advisor for review and input into electronic media. The College will discuss the return and make revisions prior to printing of a first draft return for review and comment by the Committee on Audit. The Committee on Audit reviews this first draft return, recommends changes and such changes are then incorporated into a revised draft return. This revised draft return is reviewed again by the Committee on Audit to ensure the Committee on Audit's requested changes were made. The Administration will then distribute the revised draft return to the full Board of Trustees with a request for review and comment. If any questions are received from a Board member and the return is revised as a result, the Administration will advise the full Board of the change before filing of the final return. Monitoring and Compliance with Conflict of Interest Policy Form 990, Part VI, Section B, Line 12C The Conflict of Interest Policy for Trustees, Board Associates, Officers of Administration and Other Key Employees of Lafayette College was approved by the College's Board of Trustees on October 27, 1979. This policy is mailed to all applicable individuals annually for their review and disclosure of both any exceptions to the policy and any affiliations that the policy requires disclosure for. All disclosure required under this policy must be directed in writing to the Secretary of the Board of Trustees who shall be responsible for the administration of this policy. Matters under this policy concerning Trustees shall be initially reported to the Chairperson of the Board for appropriate action. Matters concerning staff will be referred initially to the President. Information disclosed to the Secretary (or Chairperson or President) will be held in confidence except when the best interest if the institution is served by disclosing the information to the Board in Executive Session. Records Retention Policy Form 990, Part VI, Section B, Line 14 The Controller's Office has a written records retention policy that is posted and available for staff review. This policy is consistent with IRS record retention guidelines. Other campus offices may also have their own office policy for retention, consistent with guidelines established for outside regulatory agencies and the office's needs. There is no formal overall campus-wide records retention policy. Process for Determining Compensation of CEO and Officers of Administration Form 990, Part VI, Section B, LInes 15A & B For the CEO, the Board Chair obtains relevant data for comparable institutions by surveys and other available resources. There is also an annual performance evaluation. For Officers of Administration (Vice-Presidents), the President reviews national data from organizations such as CUPA (College and University Personnel Administration). There is a performance evaluation that includes input from applicable Trustees with whom the Officer works closely. There is also benchmarking against the salaries of comparable institutions. Document Availability to Public Form 990, Part VI, Section C, Line 19 The College's audited financial statements for fiscal years 2010-2011, 2009-2010, 2008-2009 and 2007-2008 are available on the College's website. The College does not make its governing documents and conflict of interest policy available to the public on its website. Requests for copies of Forms 990 and 990T are provided promptly upon request in either hard-copy or electronic form and the College does not charge for either copying or mailing costs. After the filing of the Form 990 return for the same tax year, the College will provide either an electronic or hard-copy version directly to Guidestar so they are available to Guidestar for uploading to the Guidestar website. Each of the last three years Form 990 returns are included on the Guidestar website. The College also cooperates with third-party organizations such as Guidestar to the extent possible if they have more detailed questions about our return. The College's financial statements (and limited operating statistics) are also available on two additional websites: 1) The Municipal Securities Rulemaking Board's Electronic Municipal Market Access (EMMA) website: http://emma.msrb.org The College is required to file with EMMA per our 15c2-12 requirements associated with some of its tax-exempt debt. 2) Digital Assurance Certification (DAC)'s website: http://www.dacbond.com/ The College utilizes DAC as a method of getting our documents to EMMA but DAC also posts these documents to their own website where it is publically accessible free of charge. Users are asked to register on this site. The College's status as an organization exempt from Federal taxes dates back to December 1942. Upon request, the College will also provide a copy of its May 25, 2004 letter received from the Internal Revenue Service reaffirming the College's exempt status. DONOR ADVISED FUNDS Form 990, Part IV, Line 6 The College is not a sponsoring organization as described in Section 170(c) Change in Net Assets Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES ON INVESTMENTS) 69,917,808 INVESTMENT EXPENSES 8,774,474 CHANGE IN ANNUITIES PAYABLE ESTIMATE (3,598,000) DISTRIB FROM PRINCIPAL TO FUND ANNUTITIES PAYABLE (1,733,030) CHANGE IN MV OF INTEREST RATE SWAP AGREEMENTS 1,178,367 PROVISION FOR UNCOLLECTIBLE NON OP PLEDGES REC 2,873,410 DISPOSAL OF PROPERTY, PLANT & EQUIPMENT (339,829) GAIN ADJUSTMENT FOR EXPERIENCE OF EARLY RETIREMENT COST 4,605,000 ----------- TOTAL $81,678,200 ===========