2011-05-11T10:20:17-07:00 2010-06-30 990 2009-07-01 410694747 CARLETON COLLEGE CARL 5072224000 One North College Street Northfield MN 55057 Frederick A Rogers 5072224171 2011-02-14 2009 2016-02-24 21:20:13Z Robert A Oden One North College Street Northfield MN 55057 335171737 0 X www.carleton.edu X 1866 MN Carleton College is a small, private liberal arts college, located in Northfield, Minnesota, best known for its academic excellence and warm, welcoming campus community. Carleton offers 36 majors and 15 concentrations in the arts, humanities, natural sciences and social sciences. 45 44 2873 4070 -32167 -713880 25002335 49225028 90563523 96002650 5098271 8600620 2174158 2594668 122838287 156422966 26314046 28022026 0 0 64092412 64248034 0 0 4025840 45792003 49001207 136198461 141271267 -13360174 15151699 808319960 907853562 145375991 172833223 662943969 735020339 Carleton College's mission is to provide an exceptional undergraduate liberal arts education. The College is devoted to academic excellence, distinguished by the creative interplay of teaching, learning, and scholarship and is dedicated to a diverse residential community and extensive international engagements. 0 0 78035451 28022026 78925879 Instruction - Carleton College exists to provide a high quality liberal arts education for young women and men, preparing them for leadership in their communities, countries and the world. A Student-Faculty Ratio of 9:1 supports them with classroom, laboratory, off-campus study and research opportunities. Average class size is 18. 74% of the graduating class of 2010 participated in a study abroad program during their Carleton experience. (1950 students) Student Financial Aid Programs - Carleton meets 100% of the financial need of all admitted students to ensure affordability and accessibility; achieve cultural, racial, ethnic and socioeconomic diversity; and to fund the school's growing commitment to globalization (1650 students) 14465772 0 17076771 Auxiliary Enterprises - Carleton College maintains a rural residential campus to enhance the educational experience of the student body with room and board programs designed to encourage a spirit of collegiality and conversation beyond the classroom and laboratory. (1620 students) 15601626 0 0 Student Services Programs: Programs designed to support the Carleton College student life experience including co-curricular and recreational opportunities. (1965 students) 13192623 0 0 Academic Support programs enhance the Carleton liberal arts experience with library and information technology resources. (1950 Students) 13192623 0 0 121295472 1 1 0 1 0 0 1 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 394 0 1 2873 1 1 1 1 AS AU FR GM HK JA NL NZ SF SN SP SW SZ UK 1 1 1 0 0 1 2 1 1 45 44 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MN NH WA X X X Frederick A Rogers 5072225411 One North College Street Northfield MN 55057 Robert A Oden 60.00 X X 471920 0 186037 Michael H Armacost 5.00 X 0 0 0 Mark W Banks 5.00 X 0 0 0 Carol A Barnett 5.00 X 0 0 0 Alan R Bauer 5.00 X 0 0 0 H Kim Bottomly 5.00 X 0 0 0 William C Craine 5.00 X 0 0 0 Beth B Davis 5.00 X 0 0 0 Nancy Pellowe Dennis 5.00 X 0 0 0 David M Diamond 5.00 X 0 0 0 Arnold W Donald 5.00 X 0 0 0 Jack W Eugster 5.00 X 0 0 0 William A Feldt 5.00 X 0 0 0 Don J Frost 5.00 X 0 0 0 William R Gage 5.00 X 0 0 0 Maureen G Gupta 5.00 X 0 0 0 Sara L Hays 5.00 X 0 0 0 Elise M Holschuh 5.00 X 0 0 0 James E Johnson 5.00 X 0 0 0 David H Joo 5.00 X 0 0 0 Martha H Kaemmer 5.00 X 0 0 0 Leslie B Kautz 5.00 X 0 0 0 Richard R Kracum 5.00 X 0 0 0 Keith A Libbey 5.00 X 0 0 0 Charles W Lofgren 5.00 X 0 0 0 Marilyn McCoy 5.00 X 0 0 0 William R McLaughlin 5.00 X 0 0 0 Robert W Nelson 5.00 X 0 0 0 Marc Noel 5.00 X 0 0 0 Gary T O'Brien 5.00 X 0 0 0 Diane Harrison Ogawa 5.00 X 0 0 0 Catherine J Paglia 5.00 X 0 0 0 Elizabeth J Pennie 5.00 X 0 0 0 Lawrence Perlman 5.00 X 0 0 0 Jack W Schuler 5.00 X 0 0 0 John H Stout 5.00 X 0 0 0 Gary Sundem 5.00 X 0 0 0 Caesar F Sweitzer 5.00 X 0 0 0 Paul T Van Valkenburg 5.00 X 0 0 0 Wallace R Weitz 5.00 X 0 0 0 Justin B Wender 5.00 X 0 0 0 Bonnie M Wheaton 5.00 X 0 0 0 Mark R Williams 5.00 X 0 0 0 Sidney C Wolff 5.00 X 0 0 0 John L Youngblood 5.00 X 0 0 0 Dorothy H Broom 5.00 X 0 0 0 John D Winter 5.00 X 0 0 0 Frederick A Rogers 50 X 266692 0 41960 Kristine A Cecil 50 X 205843 0 44437 Beverly Nagel 50 X 180173 0 36157 MH Wagner 50 X 162322 0 36157 Paul Thiboutot 50 X 153093 0 38118 Jason B Matz 50 X 250714 0 28760 Seth N Greenberg 50 X 177936 0 20494 Andrew Christensen 50 X 159050 0 35567 Joel Weisberg 50 X 156823 0 35716 Leon Lunder 50 X 146289 0 29236 H Scott Bierman 50 X 147110 0 22144 2477965 0 554783 95 1 1 0 JE Dunn Construction 9855 W 78th Street Suite 270 Eden Prairie MN 55344 Construction contractor 14598579 Bon Appetit 100 Hamilton Avenue Suite 400 Palo Alto CA 94301 Food Service 6808868 Lockerby Sheet Metal & Roofing 217 Mill Street Faribault MN 55021 Construction contractor 1175132 River City Builders PO box 7 Nerstrand MN 55053 Construction contractor 876887 WL Hall Company PO Box 1575 Minneapolis MN 55480 Window contractor 540497 35 0 0 0 0 2753110 46471918 4526997 49225028 Comprehensive fee 611310 96002650 96002650 0 0 0 0 0 0 96002650 3312486 0 0 3312486 876 0 0 876 54567 0 0 54567 239075 0 670127 0 -431052 0 -431052 0 -431052 0 182367371 0 177080113 0 5287258 0 5287258 0 0 5287258 0 1543731 998531 545200 545200 0 0 Summer Academic Programs 611310 654442 0 0 654442 Wind Turbine 221000 173481 0 173481 0 Other Auxiliary Enterprises 900003 161055 0 0 161055 1436975 0 225404 1211571 2425953 156422966 96547850 -32167 10682255 28022026 28022026 1436000 330000 895000 211000 47160222 38925678 5986929 2247615 4211456 3399534 604846 207076 8158254 6387284 1301592 469378 3282102 2688112 451035 142955 1325325 1065480 246044 13801 130299 130299 69701 69701 1706948 1706948 0 102131 21562 80569 0 4628531 3453000 903223 272308 1952000 1080957 871043 0 5069062 4954548 114514 4224805 3758120 223901 242784 448635 400603 31895 16137 2754145 2616738 137407 8110638 7822131 288507 704342 339328 365014 Food Service 5979133 5979133 0 0 Off Campus Studies 4263163 4263163 0 0 Membership fees 287315 0 287315 0 Recruitement 265668 0 265668 0 Other expenses 6979366 5788075 988505 202786 0 141271267 121295472 15949955 4025840 22045473 55078144 29847411 41073523 1850181 1661692 8114877 8412078 876928 952295 1311453 1779341 271907451 126447164 140553280 145460287 585230042 617591249 18490315 35844953 808319960 907853562 14674205 11340691 5459694 5402665 9006318 6427087 92393241 122693505 0 0 0 0 0 0 0 23842533 26969275 145375991 172833223 X 212735140 249873836 284393446 310427112 165815383 174719391 662943969 735020339 808319960 907853562 X 1 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 0 1 0 0 1 0 1 350 0 350 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The President, the Vice President and Treasurer, and the Office of College Relations occasionally contact legislators to express the College's views on pending legislation which would affect the College. Costs incurred in connection with these activities are insignificant and no separate accounting is made for these costs. In addition, students participate in a volunteer activity sponsored by the Minnesota Private College Council (MPCC) called "Day at the Capital" to discuss the importance of the State Grant Program with representatives. Costs incurred by the College to support this program are De minimus. 107600 90000 0 0 X X X 0 540722300 17555876 58848146 7240689 24872470 2442970 582570193 670511423 9766908 -102669593 7585577 26245329 3055532 540722300 0.67 0.33 0 1 0 0 3561609 3561609 0 177941134 63634669 114306465 0 0 0 0 0 83379259 62812495 20566764 0 7025449 0 7025449 145460287 0 0 Cash and Cash Equivalents 28076905 F Fixed Income 38148497 F Public Equities 169679952 F Hedge Funds 195458478 F Private Equity 107091047 F Real Estate and Other Real Assets 29150029 F Planned Gift Agreements and Other 49986341 F 617591249 Deposits with Bond Trustee 27618541 Trusts Held by Others 8226412 35844953 0 Annuities Payable 21789048 Asset Retirement Obligation 2402574 Fair Value of Interest Rate Swap 2777653 26969275 156422966 141271267 15151699 56771024 0 2534031 0 -1619164 57685891 72837590 183618663 56771024 0 0 -31243984 25527040 158091623 0 -1668657 -1668657 156422966 111542293 0 0 0 0 0 111542293 1706948 28022026 29728974 141271267 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Art Collection for student research and study; College Archive of institutionally significant treasures and Library Collections to enhance the institutional catalog. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment funds are to support grants to students and the program services of the College. SchD_P10_S00_L00 Schedule D, Part X The College has adopted FASB Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, an interpretation of FAS No. 109, Accounting for Income Taxes. No adjustments to the financial statements were required as a result of the implementation of FIN 48. The College has no current obligation for unrelated business income tax. The College's federal and state tax returns are potentially open for examinations for the years 2006-2009. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Loss on Long Term Gifts and Pledges -$279,900; Net Change in Split Interest -$2,942,058; Real estate rental expenses $598,747; Bookstore Cost of Goods Sold; $1,004,047. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Loss on Long Term Gifts and Pledges -$279,900; Net Change in Split Interest $-2,942,058; Scholarships -$28,022,026. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Rental Expenses $670,127; Bookstore Cost of Goods Sold $998,531 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Scholarships $28,022,026 1 1 1 The College uses paper and broadcast media in solicitation of students. We publicize our nondiscriminatory policy in all printed brochures, magazines, and application material and website information. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 Carleton College participates in the Federal Student Financial Aid Program administered through the U.S. Department of Education. Carleton students receive funding from campus-based prgrams (Perkins, SEOG, and Federal Work Study) as well as Federal Pell Grants and Federal Student Loans. In addition, Carleton students receive funding via the Minnesota State Grant, Work-Study and SELF loan programs administered through the Minnesota Office of Higher Education. 1 East Asia and the Pacific 0 0 Program Services Coastal Ecology in Australia 275444 East Asia and the Pacific 0 0 Program Services New Zealand Geology Program 197050 Europe (including Iceland and Greenland) 0 0 Program Services Paris Program 196452 Europe (including Iceland and Greenland) 0 0 Program Services Economics in Cambridge 192547 Europe (including Iceland and Greenland) 0 0 Program Services Spanish Seminar in Madrid 174392 Europe (including Iceland and Greenland) 0 0 Program Services English and Theater in London 161952 Europe (including Iceland and Greenland) 0 0 Program Services Irish Literature in Ireland 158038 Europe (including Iceland and Greenland) 0 0 Program Services German Studies in Berlin 142848 South America 0 0 Program Services Social & Cultural Field Studies in Guatemala 111910 Sub-Saharan Africa 0 0 Program Services French Studies in Mali 132011 South America 0 0 Program Services Spanish Seminar in Mexico 98529 Russia and the newly independent States 0 0 Program Services Russian Seminar in Moscow 48125 East Asia and the Pacific Investments Europe (including Iceland and Greenland) Investments Sub-Saharan Africa Investments 0 0 1889298 1 Student Scholarships 1250 28022026 0 Financial need SchI_P01_S00_L02 Schedule I, Part I, Line 2 Grants, scholarships, loans and work-study funds are awarded to students based on demonstrated financial need using nationally recognized needs analysis standards. X X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 Robert A Oden 445726 0 0 0 26194 0 40500 0 80712 0 593132 0 0 0 Frederick A Rogers 236101 0 0 0 30591 0 24000 0 24551 0 315243 0 0 0 Kristine A Cecil 198911 0 0 0 6932 0 23210 0 38549 0 267602 0 0 0 Beverly Nagel 179822 0 0 0 351 0 19387 0 17835 0 217395 0 0 0 MH Wagner 161971 0 0 0 351 0 18200 0 17437 0 197959 0 0 0 Paul Thiboutot 152742 0 0 0 351 0 17380 0 20738 0 191211 0 0 0 Jason B Matz 250363 0 0 0 351 0 24000 0 4760 0 279474 0 0 0 Seth N Greenberg 177585 0 0 0 351 0 18570 0 1924 0 198430 0 0 0 Andrew Christensen 158699 0 0 0 351 0 16500 0 19067 0 194617 0 0 0 Joel Weisberg 156472 0 0 0 351 0 15136 0 20581 0 192540 0 0 0 Leon Lunder 146082 0 0 0 207 0 19366 0 9871 0 175526 0 0 0 H Scott Bierman 124253 0 0 0 22857 0 12720 0 9424 0 169254 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a President Oden received the following non taxable benefits: first class travel of $12,751; residence on campus with the annual fair rental value of $46,660; social club dues of $2,325; maid/cleaning for personal portion of residence of $8,870. Vice President Rogers received taxable income of $20,540 for housing. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 16 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and the Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions last took place in spring 2010. Minnesota Higher Education Facilities Authority Series 6D Series 6D 410988525 60416HENO 2005-04-13 31460000 Retire Series 3L-1 and Series 4N, Watson House demolition and property acquisitions. 1 0 Minnesota Higher Education Facilities Authority Series 6T Series 6T 410988525 60416HNH3 2008-12-04 19294728 Cassat andMemorial Hall construction and purchase of back up generators 0 0 Minnesota Higher Education Facilties Authority Series 6Y Series 6Y 410988525 2009-06-25 10000000 Cassat and Memorial Hall construction 0 0 Minnesota Higher Education Facilities Authority Series 7D Series 7D 410988525 60416HRZ9 2010-06-29 31962105 Weitz Center for Creativity rennovation and construction 0 0 31460000 0 28123498 0 336501 0 3000000 2008 0 1 1 1 19294728 0 0 0 291550 0 19003178 2011 0 0 1 1 10000000 0 0 0 0 0 10000000 2011 0 0 1 1 31962105 0 0 31624246 337859 0 0 0 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 0 0 0 0 0 0 0 1 1 1 1 Morgan Stanley 2022 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 X 5 107600 Appraised value X 237 4089698 Market Value X 3 246576 Market Value X 1 60000 Appraised Value X Volunteer expenses 144 23123 Actual 2 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b The College will retain an attorney for non cash real estate gifts and a broker for publicly traded securities, as needed. F990_P01_S00_L06 Form 990, Part I, Line 6 Carleton alumni volunteer as Admissions representatives, Annual Fund solicitation, Reunion class agents, Parents' council and "Volunteer for Carleton," which is an annual campus-wide initiative that raises awareness of the ways that students and alumni give back to Carleton. F990_P06_S0A_L01a Form 990, Part VI, Section A, Line 1a The primary functions of the Board of Trustees are policy making and responsibility for sound resource management of the College. The Board of Trustees also determines the general, educational, and financial policies of the College. The Board of Trustees does not involve itself in the day-to-day operations of the College. The Board delegates to officers, faculty, committees, and others the authority to perform certain functions, subject to the Board's review and approval. The President of the College, as its Chief Executive Officer, has responsibility for the general active management of the College on a day-to-day basis. The faculty, with the assistance of a standing committee chaired by the Dean of the College, formulates educational policy. For 2009-10, the trustee committees included the Executive Committee, Academic Affairs, Audit Committee, Building and Grounds, Campaign Steering Committee, College Council, Development Committee, Enrollment and Admissions, External Relations, Finance and Planning, Investment, Presidential Search Committee, Student Life, Task Force on Revenue and Cost, Trustee Affairs. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 Management presented the 2009 Form 990 in its entirety to the Audit Committee of the Board of Trustees for their review prior to submitting it to the IRS. The 2009 Form 990 is also included on the Board of Trustee website and provided with the Board materials for all members reference. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Officers, trustees, and key employees are required to annually disclose interests that could give rise to conflict. Such interests include a list of family members, substantial business or investment holdings and other transactions or affiliations with businesses or other organizations. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1) The conflicting interest is fully disclosed. 2) The person with the conflict of interest is excluded from the discussion and approval of such transactions; 3) A competitive bid for comparable valuation exists; and 4) The Audit Committee of the Board of Trustees has determined that the transaction is in the best interest of the organization. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined annually by the Executive Committee of the Board of Trustees. The committee uses a consulting firm to conduct an independent review of the President's compensation package. The review compares data from 16 of the College's peer institutions, as well as utilizing various salary surveys. The College uses the same consulting firm to review the following positions: Vice President and Treasurer, Vice President of External Relations, Dean of the College, Vice President and Dean of Admissions, Vice President and Dean of Students, Chief of Staff and the Director of Investments. The President submits his salary recommendations for these positions to the Executive Committee for approval. This process takes place annually; the review of all executive positions last took place in spring 2010. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Carleton's governing documents, Conflict of Interest policy, and Financial Statements are available on the organization's website and are available upon request. Application for Extension of Time to File an Exempt Organization Return was filed requesting a 6 month extension allowing time for management, audit committee and trustee review. The Internal Revenue Service approved this request and extended the due date to 2/16/2011.