2011-11-09T13:14:14-06:00 2010-12-31 The American College 270 S Bryn Mawr Bryn Mawr PA 19010 990 2010-01-01 231352008 The American College AMER 6105261000 270 S Bryn Mawr Bryn Mawr PA 19010 Neal R Fegely 6105261501 2011-11-09 6105261000 2010 2016-02-24 21:20:13Z Laurence Barton 270 S Bryn Mawr Bryn Mawr PA 19010 32110449 0 X www.theamericancollege.edu X 1927 PA The American College is an independent, accredited, nonprofit educational institution providing graduate and professional educational primarily on a distance/online learning basis.The mission of The American College is to raise the level of professionalism of its students and, by extension, the financial services industry as a whole. By imparting expert knowledge and by emphasizing that such knowledge must be regularly renewed and ethically applied, The College seeks to strengthen not only its students' professionalism, but also the financial security of individuals, families, businesses, and the societies they serve. VisionAs the leader in financial services education, we will partner with companies and professionals to help them realize their full potential, creating relevant learning opportunities that: Raise expectations and standards; Build sustainable advantages for our clients; and Influence the industry and general public for the common good. 48 47 204 47 0 0 1917159 5044597 24595547 25727648 482094 652895 603707 685309 27598507 32110449 0 0 0 0 13659753 15247888 0 0 1398636 13290965 13896049 26950718 29143937 647789 2966512 38140476 45008986 12341976 12439868 25798500 32569118 X The mission of The American College is to raise the level of professionalism of its students and, by extension, the financial services industry as a whole. By imparting expert knowledge and by emphasizing that such knowledge must be regularly renewed and ethically applied, The College seeks to strengthen not only its students' professionalism, but also the financial security of individuals, families, businesses, and the societies they serve. VisionAs the leader in financial services education, we will partner with companies and professionals to help them realize their full potential, creating relevant learning opportunities that: Raise expectations and standards; Build sustainable advantages for our clients; and Influence the industry and general public for the common good. 0 0 10339302 0 18198825 Solomon S. Huebner School - The Huebner School administers the curriculum leading to the CLU, ChFC, RHU, REBC, and CLF professional designations. There are approximately 19,400 students enrolled in these programs. 2957605 0 4478778 LUTC Program - The LUTC Program administers the curriculum leading to the LUTCF and FSS professional designations. There are approximately 9,200 students enrolled in these programs. 1481793 0 2043707 Richard D. Irwin School of Management - The Irwin School administers the curriculum leading to the Master of Science degree. Specialities are offered in Financial Planning and Advanced Leadership. There are approximately 800 students in the Graduate School. 1172619 0 1006337 Custom Corporate Consulting Center - Provides customized training and education to client companies in the financial services arena utilizing the College's resources. 1172619 1006337 15951319 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 254 0 204 1 0 0 0 0 0 0 0 0 0 0 X 48 47 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AZ CO KY MD MA MI NH NY OH OK OR WA X John G Wells 6105261510 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 Michael A Bell 1.00 X 0 0 0 Lee V Bethel 1.00 X 0 0 0 Christopher O Blunt 1.00 X 0 0 0 M Jeffrey Bosco 1.00 X 0 0 0 James A Bouterse 1.00 X 0 0 0 Edward W Cassidy 1.00 X 0 0 0 Nicholas M Cecere 1.00 X 0 0 0 Susan M Cooper 1.00 X 0 0 0 Michael J Corey 1.00 X 0 0 0 Ralph L Crews 1.00 X 0 0 0 Michael C Davidson 1.00 X 0 0 0 Bryan C Dunn 1.00 X 0 0 0 Kevin C Eichner 1.00 X 0 0 0 Caroline Feeney 1.00 X 0 0 0 Lewis W Fogel 1.00 X 0 0 0 Peter A Golato 1.00 X 0 0 0 John W Greene Jr 1.00 X 0 0 0 Gary T Hoffman 1.00 X 0 0 0 Charles C Jones 1.00 X 0 0 0 Fred H Jonske 1.00 X 0 0 0 Frank Keating 1.00 X 0 0 0 Michael L Kalen 1.00 X 0 0 0 Joe Kelley 1.00 X 0 0 0 Karen Eilers Lahey 1.00 X 0 0 0 Thomas L McLeary 1.00 X 0 0 0 John W McTigue 1.00 X 0 0 0 James J Meehan 1.00 X 0 0 0 James A Mitchell 1.00 X 0 0 0 Linda S Need 1.00 X 0 0 0 William T O'Donnell 1.00 X 0 0 0 Laura Pantaleo 1.00 X 0 0 0 Bruce G Parker 1.00 X 0 0 0 Scott R Perry 1.00 X 0 0 0 Robert B Plybon 1.00 X 0 0 0 Burvin E Pugh Jr 1.00 X 0 0 0 Reginald N Rabjohns 1.00 X 0 0 0 Phillip C Richards 1.00 X 0 0 0 Michael Rosenzweig 1.00 X 0 0 0 David R Rubinowitz 1.00 X 0 0 0 Albert J Schiff 1.00 X 0 0 0 Todd M Schoon 1.00 X 0 0 0 Frederick J Sievert 1.00 X 0 0 0 Nikki L Sorum 1.00 X 0 0 0 J Eric Smith 1.00 X 0 0 0 Michael J Vietri 1.00 X 0 0 0 Robert J Wernekce 1.00 X 0 0 0 Charles R Wright 1.00 X 0 0 0 Laurence Barton 40.00 X 1211241 0 23047 Neal R Fegely 40.00 X 330265 0 29514 John G Wells 40.00 X 89430 0 8580 Walter Woerheide 40.00 X 236280 0 29273 Jack Hondros 40.00 X 278049 0 27004 Stephen D Tarr 40.00 X 204365 0 27135 Edward McEvoy 40.00 X 135215 0 11400 Charles T Cronin 40.00 X 151672 0 13216 Glenn Bosemann 32.00 X 281475 0 23209 Craig Lemoine 32.00 X 191865 0 15321 Theodore Kurlowicz 32.00 X 180769 0 14905 David Littell 32.00 X 179079 0 15558 Phillip Cubeta 32.00 X 169206 0 14506 3503696 0 241268 30 0 1 0 CedarCrestone Inc PO Box 402521 Atlanta GA 303842521 System consulting 747135 Oberon Technologies LLC 2640 Wildwood Trail Saline MI 481761675 Content management system support 183812 PaperCut Interactive Inc 748 Overbridge Lane Chattanooga TN 37405 Marketing consulting 131284 3 5044597 34796 5044597 Solomon S. Huebner Sch 611310 18198826 18198826 LUTC Program 611310 4478778 4478778 Richard D. Irwin Gradu 611310 2043707 2043707 Corporate Consulting C 611310 1006337 1006337 25727648 652895 652895 PACE fees 611310 192690 192690 Royalties 611310 191686 191686 Membership fees 611310 153000 153000 147933 147933 685309 32110449 26221271 0 844581 1416875 1416875 1069160 246124 662704 160332 9740381 6925411 2316235 498735 406039 406039 1658006 2062422 -567030 162614 957427 957427 165759 9558 138663 17538 85008 85008 1743860 623580 869287 250993 1214348 1046947 116608 50793 307486 217098 68357 22031 698602 655631 42971 48094 48094 1634651 14188 1620463 515857 247989 209555 58313 3098057 2567153 362717 168187 1771207 1771207 337622 337622 Printing and Publicatio 1069353 1060957 8396 0 Bank Service charges 386350 0 386350 0 Plant less occupancy 306326 8013 298293 20 Professional Developmen 162430 12438 149172 820 Bad Debt Expense 154130 117411 36719 0 196909 88305 100344 8260 29143937 15951319 11793982 1398636 386583 3658712 10127942 8535976 335188 3116282 1729104 3152839 359397 350847 531159 496610 16112006 11545475 6184589 4566531 16629798 19108017 1856716 2023172 38140476 45008986 5307998 5768051 1579187 2350832 5454791 4320985 12341976 12439868 X 25561513 29866771 236987 2702347 0 0 25798500 32569118 38140476 45008986 X 2966512 3804106 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 19440 19440 29124497 29143937 1000000 250000 0 0 1000000 1000000 2000000 3000000 12297 19440 31737 250000 250000 500000 750000 Organizations Direct and Indirect Political Campaign Activities: Part I-A, Line 1: The College worked with organizations including trade associations in opposition to proposed legislation that would adversly impact one or more of its designations. 31985325 380624 3087692 626285 34827356 25984363 2165832 5124590 1289460 31985325 32907896 124557 -6923779 1245327 24863347 0.33340 0.55360 0.11300 0 1 1 4080576 1175944 2904632 12031430 10369531 1661899 4566531 University City Science Center Stock 1000 C Investment portfolio 19107017 F 19108017 Annuity Obligations 244969 Accrued Pension Costs 4076016 4320985 32110449 29143937 2966512 1323496 2480610 3804106 6770618 35098907 1323496 1664962 2988458 32110449 0 32110449 29143937 0 29143937 0 29143937 Description of Intended Use of Endowment Funds: Part V, Line 4: To support the mission of The American College by providing for both the short-term and long-term financial health of the College. Part XI, Line 8 - Other Adjustments: Transfer of net assets from the American College Foundation EIN 23-3015130 1664962. Decrease in minimum pension liability 815648. Part XII, Line 2d - Other Adjustments: Transfer of net assets from the American College Foundation EIN 23-3015130 1664962. 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 The non-discrimination policy is published in our brochures, on our admission and matriculation forms, and appears on the College's web site as part of its privacy policy. Explanation of Document Retention Schedule E, Part I, Line 4 The American College neither requests nor requires ethnic or gender information from students who are matriculating or enrolling for courses at the graduate or designation level. X X X 1 Harris Connect 1511 Route 22 Suite C-25 Brewster NY 10509 Phone solicitation 0 107618 97228 10390 Schultz & Williams Inc 325 Chestnut Street Suite 700 Philadelphia PA 191062422 Campaign consulting 0 0 17421 -17421 107618 114649 -7031 AL AK AZ AR CA CO CT FL GA HI IL KS KY LA ME MN MD MA MI MO MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI Explanation of Fundraising Payments Schedule G, Part I, Line 2b, Column (v) The College engaged Schultz and Williams to conduct a feasibility study in 2009 and periodic consulting for an 80th Anniversary Campaign to run from 2010 to 2014. The College engaged Harris Connect to solicit unrestricted funds from specific segments of its designation holders and graduates. X X 0 0 X X X X 0 1 0 1 1 1 1 0 0 Laurence Barton 450000 0 112500 0 648741 0 13904 0 9143 0 1234288 0 0 0 Neal R Fegely 248558 0 40000 0 41707 0 15925 0 13589 0 359779 0 0 0 Walter Woerheide 177490 0 0 0 58790 0 11537 0 17736 0 265553 0 0 0 Jack Hondros 207500 0 40000 0 30549 0 13488 0 13516 0 305053 0 0 0 Stephen D Tarr 161716 0 20000 0 22649 0 12937 0 14198 0 231500 0 0 0 Charles T Cronin 147115 0 0 0 4557 0 7355 0 5861 0 164888 0 0 0 Glenn Bosemann 160822 0 0 0 120653 0 12865 0 10344 0 304684 0 0 0 Craig Lemoine 110508 0 0 0 81357 0 5526 0 9795 0 207186 0 0 0 Theodore Kurlowicz 106531 0 0 0 74238 0 8522 0 6383 0 195674 0 0 0 David Littell 100459 0 0 0 78620 0 8036 0 7522 0 194637 0 0 0 Phillip Cubeta 165761 0 0 0 3445 0 7215 0 7291 0 183712 0 0 0 Part I, Line 1a The President and CEO's spouse accompanies him on trips to Board meetings and other events where she entertains trustee spouses, holding breakfasts, lunches and leading tours and other outings. The President and CEO must obtain approval from the Board Chairman each time his spouse accompanies him. At the instruction of the Board's Compansation Committee, participants in the SERP Plan were partially grossed up to offset the tax impact of taxable distributions made in 2010. Part I, Line 4b The following employees had the respective amounts contributed to the College's Individual Supplemental Employee Retirement Plan (ISERP)in 2010: Laurence Barton - $42,343 Neal Fegely - $12,375 Stephen Tarr - $8,250 Walter Woerheide - $8,250 Jack Hondros - $8,250 Part I, Line 5 The CEO and COO have a three year performance incentive plan that runs during the period January 1, 2008 through December 31, 2010. The plan consists of 5 distinct elements and includes meeting consolidated revenue targets (including both the College and the American College Foundation EIN 23-3015130) as one of the criteria which is weighted between 15% and 20% of the elements of the plan. The covered individuals must be on staff as of December 31, 2010 in order to be eligible for an award that will be payable in 2011 through 2013. Part I, Line 6 The CEO and COO have a three year performance incentive plan that runs during the period January 1, 2008 through December 31, 2010. The plan consists of 5 distinct elements and includes meeting consolidated operating surplus projections (including both the College and the American College Foundation EIN 23-3015130)as one of the criteria which is weighted between 15% and 20% of the elements of the plan. The covered individuals must be on staff as of December 31, 2010 in order to be eligible for an award that will be payable in 2011 through 2013. X 1 34796 Market value of stock 0 0 1 0 Form 990, Part VI, Section B, line 11 The form 990 is completed by Finance staff and reviewed by the Chief Operating Officer for accuracy and completeness. It is then reviewed by the College's independent auditors. Once these steps are completed it is presented to the Board of Trustees for their review and approval. This process involves sending the completed form along with relevant instructions and explanations and folloing up with a Board wide conference call question and answer session. Once this process has been completed the Form 990 is electronically filed. Form 990, Part VI, Section B, line 12c Members of the College's Board of Trustees and defined administrative employees are required to complete the conflict of interest form annually. The returned forms are tabluated to make sure there is 100% response. The results of the responses are communicated to the Audit Committee by the Chief Operating Officer. Any positive responses are reviewed by the Audit Committee and independent auditors and appropriate action is recommended. Form 990, Part VI, Section B, line 15 The College has historically had a relationship with an independent compensation consultant who provides information as requested by the Compensation Committee for deliberation. Annually, the Compensation Committee will approve the compensation of the Chief Executive Officer with input from the outside consultant. The Chief Executive Officer will recommend and obtain Board approval for the compensation for the key employees/disqualified persons. Historically, the data is compared with data provided by the compensation consultant. If there are any concerns, the Committee would contact the compensation consultant. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available to the public on an as requested basis. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 1323496. Transfer of net assets from the American College Foundation EIN 23-3015130 1664962. Decrease in minimum pension liability 815648. Total to Form 990, Part XI, Line 5: 3804106. Schedule J Part II Col B(iii) explanation - Laurence Barton, President & CE 1. $283,676 - 457 plan termination in 2010 of a multi-year plan funded by the College resulting in this vesting amount. 2. $72,722 - Additional compensation from teaching various programs not included in the base salary. 3. $42,343 - SERP current year funding. The SERP is the new non-qualified retirement plan replacing the 457 plan. 4. $250,000 - The payout of a multi-year retention bonus in 2010. Total Other Reportable Compensation is $648,741. The President & CEO is not compensated for his additional role as Professor of Management. He derives additional compensation for periodic teaching of courses. The American College Foundation 270 S Bryn Mawr Avenue Bryn Mawr PA 19010 233015130 Solicit and manage funds for the benefit if the American College PA 501(c)(3) N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 The American College Foundation K 457867 Solicits funds for The Foundation The American College Foundation R 1664962