2023-11-11T12:53:07-07:00 2023-06-30 990 2022-07-01 042632526 ELDERHOSTEL INC ELDE 6174267788 PO Box 56033 Boston MA 022056033 Lowell Partridge CFO and Assistant Treasurer 6174267788 2023-11-13 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z X ROAD SCHOLAR Lowell Partridge PO Box 56033 Boston MA 022056033 374241244 0 X www.roadscholar.org X 1975 MA Elderhostel Inc., doing business as Road Scholar, sponsors, arranges or conducts educational programs around the world primarily for adults age 55 and older. 8 8 525 150 8053606 5023364 4238585 8060314 148913808 320898862 1854491 3927188 2079492 12053712 157086376 344940076 47366 61108 0 0 23446142 36942780 0 0 737689 134584318 270043409 158077826 307047297 -991450 37892779 208363648 229991445 192614454 164321320 15749194 65670125 X Elderhostel, Inc., which operates under the name Road Scholar, is a not-for-profit organization founded in 1975 and incorporated in 1977 for the purpose of sponsoring, arranging or conducting educational programs primarily for adults age 55 and older. Its mission is to inspire adults to learn, discover and travel. Road Scholar's learning adventures engage expert instructors, (Continued on Schedule O) 0 0 108270733 0 149943610 Road Scholar's educational programs held outside the United States and Canada (ranging in length from one to six weeks or more for on-site programs, and one to five days for virtual web-based programs) provide a stimulating academic experience introducing participants to the arts, history, literature, culture, architecture and natural environment of their locations. They are designed to further cross-cultural understanding by forging direct connections between participants and local residents, experts and lecturers. Community service and multi-generational programs are also offered. Room, board and in most cases airfare are included in the cost of on-site programs. In fiscal year 2023, 27,621 enrollees participated in on-site programs, and 1,533 enrollees participated in virtual, web-based programs and lectures. 99954536 61108 120747054 Road Scholar's unique liberal arts educational programs in the United States and Canada (ranging in length from four days to three weeks for on-site programs, and one to five days for virtual web-based programs and lectures), provide a stimulating academic experience exploring the arts, literature, sciences, history, culture, and environment of North America. Some programs provide community service and others are designed to be multi-generational, allowing grandchildren, or adult children and their children, to attend. Room and board are included in the cost. In fiscal year 2023, 44,355 enrollees participated in on-site programs, and 35,796 enrollees participated in virtual, web-based programs and lectures. 36805025 0 50208198 Road Scholar's Adventures Afloat programs (ranging in length from one week to four months) are ship-based learning adventures that allow participants to experience the educational wonders of broad regions interconnected by the world's oceans and waterways. Experts and professors provide stimulating educational programs on board, which are enhanced by fieldtrips to experience the culture of local communities through related land components and lectures. Multi-generational programs are offered, and room and board are included in the cost, as is airfare for most programs. In fiscal year 2023, 10,203 enrollees participated in Adventures Afloat programs. 19089558 0 3596 Nearly 11.2 million publications, including 2.7 million catalogs were produced and mailed to over 1.3 million households on Road Scholar's mailing list. Road Scholar's website, which provides program information, had almost 52 million page views from over 7 million unique visitors. In FY23, Road Scholar garnered millions of media impressions. 11210262 0 138588 Over 150 workers in the United States and internationally worked with over 1,000 providers and vendors to develop, operate, oversee, and evaluate approximately 3,875 departure dates of 655 unique programs, and 219 virtual programs and lectures. 10088429 0 338413 Our 90-seat Participant Services Centers primarily located in Massachusetts and Oregon with some staff working from home in other states handled over 270,000 inbound telephone calls and made approximately 39,000 outbound telephone calls to inquirers and enrollees that resulted in over 88,000 enrollment, cancellation, transfer and contribution transactions. The centers also responded to over 90,000 emails. In addition, the 36-seat Travel Services Center primarily located in Massachusetts with some staff working from home in other states handled approximately 47,000 inbound telephone calls and made over 8,500 outbound calls to participants who desired assistance in making, changing or cancelling their travel flight arrangements to Road Scholar programs. This team also responded to over 11,000 emails. 40388249 0 480597 285418543 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 381 0 1 525 1 1 1 1 AS CA EI NZ UK 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV X X Lowell Partridge Elderhostel Inc d/b/a Road Scholar 6174575411 PO Box 56033 Boston MA 022056033 X James Moses President & CEO 40 0 X 1078191 0 35071 Lowell Partridge Ass't Treasurer & CFO 40 0 X 287584 0 240147 Eric Bird Chief Operating Officer 40 0 X 303948 0 34249 Maeve Hartney Chief Programs Officer 40 0 X 245005 0 48460 Mary Marks Senior VP, Revenue Management 40 0 X 246680 0 45321 Stephen August VP, Marketing 40 0 X 216481 0 40558 Joseph LoDato VP, Human Resources 40 0 X 204764 0 45876 John McCarthy Chief Information Officer 40 0 X 225156 0 23813 Stuart Burke VP, Program Accounting and Former Clerk 40 0 X 212956 0 23221 Christopher Heppner VP, Communications 40 0 X 167701 0 40908 Alexander Toth Ass't Clerk 40 0 X 113781 0 11848 Rachel Louis Hamilton Clerk 30 0 X 108706 0 11430 Judith Allen Ferretti Chair & Director (eff 06/23) 4 0 X X 0 0 0 Ralph Fuccillo Chair & Director (thru 06/23) 4 0 X X 0 0 0 Ward William Dunn Jr Vice Chair (eff 06/23)/Treasurer (thru 06/23) & Director 3.00 0 X X 0 0 0 George Moose Vice Chair (eff 06/23) & Director 2 0 X X 0 0 0 Sharon M Matthews Vice Chair & Director (thru 06/23) 2 0 X X 0 0 0 Paul Nelson Vice Chair & Director (thru 02/23) 2 0 X X 0 0 0 Sandra Willen Treasurer (eff 06/23) & Director 3 0 X X 0 0 0 Robert E Cowden III Director (thru 06/23) 1 0 X 0 0 0 Michael Crotty Director (eff 11/22) 1 0 X 0 0 0 Susan D Page Director 1 0 X 0 0 0 Jane Reardon Director (eff 11/22) 1 0 X 0 0 0 David G Ross Director (thru 11/22) 1 0 X 0 0 0 Kate Walker Director (thru 02/23) 1 0 X 0 0 0 Morrison DeSoto Webb Director (eff 02/23) 1 0 X 0 0 0 3410953 0 600902 47 0 1 0 Holbrook Travel Inc 3540 NW 13th St Gainesville FL 32609 Arrange & conduct edu pgms 15490695 Ontario Limited 4 Cataraqui St Kingston ON CA K7K 1Z7 Arrange & conduct edu pgms 12985216 Center for Educational Advn 106 Plantation Ridge Drive Americus GA 31709 Arrange & conduct edu pgms 7472104 Northern Arizona University PO Box 5604 Flagstaff AZ 86011 Arrange & conduct edu pgms 5777604 Black Hills Ed Inst PO Box 9778 Rapid City SD 57709 Arrange & conduct edu pgms 4391027 178 0 0 0 0 5032297 3028017 22152 8060314 International program revenue 611600 149943610 149943610 0 0 US/Canada program revenue 611600 120747054 120747054 0 0 Adventures afloat program revenue 611600 50208198 50208198 0 0 0 0 0 0 320898862 4031924 0 0 4031924 0 0 0 0 3340303 0 0 3340303 179206 0 0 0 179206 0 179206 0 0 179206 29196432 0 29301168 0 -104736 0 -104736 0 0 -104736 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Trip protection fees/premium 524298 7432604 0 7432604 0 Marketing support 900004 388061 0 388061 0 Retail store commission 453998 232941 0 232941 0 480597 480597 0 0 8534203 344940076 321379459 8053606 7446697 0 0 61108 61108 0 0 0 0 3377855 211425 3154944 11486 297687 0 297687 0 26485402 19804873 6379194 301335 1828207 1246266 551128 30813 3031641 2132622 858276 40743 1921988 1221911 677374 22703 0 0 0 0 63768 0 63768 0 118102 0 118102 0 22500 0 22500 0 0 0 216688 0 216688 0 3120235 2413952 664283 42000 5400993 5400993 0 0 643551 217430 394963 31158 4403988 913026 3477112 13850 0 0 0 0 1154463 945534 195976 12953 358910 303479 45637 9794 0 0 0 0 0 0 0 0 32991 0 32991 0 0 0 0 0 1060925 388010 664949 7966 1953022 1581606 371416 0 Payments to program providers and vendors 223897746 223897746 0 0 Printing, postage and mailing 8487866 8306184 30702 150980 Credit card and bank fees 7594258 7330991 228962 34305 Unrelated business income taxes 1989407 0 1989407 0 9523996 9041387 455006 27603 307047297 285418543 20891065 737689 1841394 2752414 79848575 78915957 0 0 9668771 5870650 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RESTRICTED 0 0 0 307024797 307024797 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 30000 15000 0 0 45000 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 12732969 42198145 5573938 51363 1161418 3881 59288390 31796769 -15203880 -2369998 81030 1422352 -13460 12732969 22580083 4197000 6485284 15843 1589746 -139991 31796769 42797255 -19634023 1024810 63575 1512562 31822 22580083 38012706 4071848 2189884 81045 1364711 31427 42797255 0.94 0.06 0 0 0 0 0 0 0 0 0 0 0 149914 137193 12721 0 840073 783982 56091 0 24023496 20721343 3302153 3370965 0 Post retirement obligations 1560350 Lease liabilities 905824 Obligations under split interest agreements 386500 Currency and commodity derivatives 165929 Tenant security deposits 15508 3034111 X 354760751 6617924 0 0 3419439 10037363 344723388 216688 0 216688 344940076 304839820 0 0 0 -1990789 -1990789 306830609 216688 0 216688 307047297 Schedule D, Part V, Line 1f The amounts disclosed on the "Administrative expenses" line are the changes in actuarially determined liability of split-interest agreements given by donors for endowment purposes. No administrative expenses are deducted from the endowment funds. Schedule D, Part V, Line 4 The Organization's endowment consists of 48 donor-restricted funds established to provide scholarships, grants and other support, and a Board-designated fund to provide operating support. Schedule D, Part X, Line 2 The Organization is a qualified tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, as amended (the "Code"), and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The Organization provides for income taxes in accordance with the Code on unrelated business activities, and in accordance with the regulations of countries in which Road Scholar operates. Income tax expense totaled $1,996,525 for fiscal 2023 and income tax benefits totaled $513,564 for fiscal 2022, which are included in administration expense in the accompanying statements of activities. The Organization received income tax refunds totaling $1,953,817 and $647,966 during fiscal 2023 and 2022 and paid income taxes of $1,083,558 and $270,100 during fiscal 2023 and 2022, respectively. Schedule D, Part XI, Line 2d COVID-19 extraordinary expenses of $1,990,789 is netted against COVID-19 extraordinary revenue in the Financial Statement revenue but reported as a component of expenses on the Form 990. In addition, currency and commodity derivatives of $5,410,228 is included in Financial Statement revenue but reported as other changes in net assets on the Form 990. Schedule D, Part XI, Line 4a Investment management fees of $216,508 are included in Financial Statement revenue net of interest and dividends but reported as a component of investment management expense on the Form 990. Schedule D, Part XII, Line 2d COVID-19 extraordinary expenses of $1,990,789 is netted against COVID-19 extraordinary revenue in the Financial Statement revenue but reported as a component of expenses on the Form 990. Schedule D, Part XII, Line 4a Investment management fees of $216,508 are included in Financial Statement revenue net of interest and dividends but reported as a component of investment management expense on the Form 990. Europe (including Iceland and Greenland) 1 21 Program Services Educational programs 78153386 North America (including Canada and Mexico, but not the United States) 0 1 Program Services Educational programs 25261432 South America 0 2 Program Services Educational programs 13788432 East Asia and the Pacific 1 2 Program Services Educational programs 12923895 Central America and the Caribbean 0 0 Program Services Educational programs 12251976 Middle East and North Africa 0 0 Program Services Educational programs 8538233 Sub-Saharan Africa 0 0 Program Services Educational programs 7208124 South Asia 0 0 Program Services Educational programs 1798235 Central America and the Caribbean Investments 3291179 2 26 163214892 1 0 1 0 0 0 Schedule F, Part I, Line 3 Expenditures are reported on an accrual basis in accordance with GAAP as reported in the financial records. 1 Financial need-based assistance 24 31092 Caregiver assistance grant 22 30016 Schedule I, Part I, Line 2 Road Scholar posts awarded scholarships and grants as credits to recipients' accounts which can be applied by recipients against the cost of Road Scholar programs in the United States. Scholarships and grants are never paid in cash and expire if they are not used. Schedule I, Part III As part of a continuing mission to ensure that its educational programs are widely accessible to older adults, Road Scholar provides scholarships on a nondiscriminatory basis to those who demonstrate financial need and grants to family caregivers who provide unpaid daily care and support for an ill or disabled family member, to offset financial barriers to attend a Road Scholar program. By increasing the economic and situational diversity of participants, scholarships and grants help enrich the Road Scholar experience for all who take part in our programs. Qualified applicants, ages 50+, are entitled to financial assistance every two years. Scholarships and grants may be up to $1,500 per award and are provided for enrollment in programs in the United States and Canada. X X X X X 0 1 0 0 0 0 0 1 0 James Moses President & CEO 577697 0 200000 0 300494 0 30500 0 4571 0 1113262 0 200000 0 Lowell Partridge Ass't Treasurer & CFO 265834 0 0 0 21751 0 228805 0 11341 0 527731 0 0 0 Eric Bird Chief Operating Officer 303158 0 0 0 791 0 30144 0 4105 0 338198 0 0 0 Maeve Hartney Chief Programs Officer 244413 0 0 0 592 0 25394 0 23067 0 293466 0 0 0 Mary Marks Senior VP, Revenue Management 244975 0 0 0 1705 0 25654 0 19666 0 292000 0 0 0 Stephen August VP, Marketing 215526 0 0 0 956 0 22458 0 18100 0 257040 0 0 0 Joseph LoDato VP, Human Resources 202978 0 0 0 1786 0 21537 0 24338 0 250639 0 0 0 John McCarthy Chief Information Officer 224692 0 0 0 464 0 22833 0 980 0 248969 0 0 0 Stuart Burke VP, Program Accounting and Former Clerk 211946 0 0 0 1010 0 21289 0 1932 0 236177 0 0 0 Christopher Heppner VP, Communications 167186 0 0 0 516 0 17731 0 23176 0 208609 0 0 0 Schedule J, Part I, Line 4 For calendar year 2022, the President and the CFO participated in a non-qualified deferred plan under Section 457(f). See Part II note below for additional information. Schedule J, Part I, Line 7 The Board authorized and paid a bonus for the President in CY2022. Schedule J, Part II In the event of termination of employment other than for cause, Road Scholar will continue to pay the President's base salary for 24 months from date of involuntary termination and conditioned upon signing a release of claims within 21 days. In the event of voluntary termination of employment, Road Scholar will retain his services as a consultant for a period of two years or longer, at the discretion of the Board. In no event will consultation hours exceed 20/week or 40/month. In June 2015 for the President and in July 2022 for the CFO, Road Scholar established a non-qualified deferred compensation plan under Internal Revenue Code Section 457(f). The Plan is subject to certain vesting requirements. During calendar year 2022, Road Scholar paid $200,000 of previously-awarded deferred compensation plus accumulated earnings to the President which are reported as taxable compensation in Column (B) (iii) and in Column (F), and awarded $200,000 to the Plan for the CFO which is reported as deferred compensation in Column (C). Form 990, Part III (Cont. 1) provide extraordinary access, and stimulate discourse and friendship among people who value lifelong learning. The Organization sponsors educational programs throughout the United States, Canada and more than 80 other countries. The Organization publishes comprehensive program catalogs, provides extensive information on the Web about every program offered, and provides a registration system to match interested participants with available programs. During fiscal 2023, the Organization operated 3,823 on-site programs attended by 82,179 participants, 52 multi-day, on-line programs attended by 1,069 participants, and 167 on-line lectures attended by 36,260 participants. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the CFO, President/CEO, tax advisors from the national accounting firm of Grant Thornton LLP, Audit Committee and the Board of Directors before it is filed. Changes from any of these reviews are incorporated before the 990 is reviewed at the next level and ultimately filed. Form 990, Part VI, Section B, Line 12c Road Scholar has a Conflict of Interest Policy to govern arrangements and activities between the Organization, and Road Scholar's Board of Directors, officers, senior staff, management employees and other "Interested Persons" as defined in the policy. This policy details the duty to disclose conflicts of interest, procedures for addressing any conflict, including the recusal of directors, officers or employees from decisions regarding their potential conflict, defines and identifies possible conflicts of interest. Annually, all directors, officers, senior staff and management employees sign a statement which affirms their understanding of the policy and discloses any potential conflicts of interest. All disclosed potential conflicts are reviewed by the CEO with the Executive Committee of the Board of Directors for awareness and if necessary, for additional actions. Form 990, Part VI, Section B, Line 15 The Executive Committee serves as the Compensation Committee of the Board of Directors and votes on and approves compensation for the President/CEO annually, and reviews and approves compensation as recommended by the CEO for the Senior Leadership employees who report to the CEO. The Executive Committee reviews compensation for the CEO and Senior Leadership employees against compensation data for similarly situated organizations for functionally comparable positions. The compensation review process has been conducted annually since 2002 and data is utilized from a number of sources including compensation surveys, Forms 990 and an independent compensation consultant. The deliberation and decisions regarding compensation arrangements are contemporaneously documented and recorded in the minutes of the Executive Committee and the results are presented to the full Board. Form 990, Part VI, Section C, Line 19 Road Scholar provides its governing documents, Conflict of Interest Policy and Audited Financial Statements upon request in either print or electronic form. Form 990, Part VII, Section B, Line 1(A) The top five independent contractors reported on the Form 990 are program providers and vendors. Payments to these entities are shown on a gross basis for calendar year 2022. A substantial portion of those payments is for costs incurred in arranging and conducting Road Scholar programs including accommodations, transportation, and meals for program participants, which Road Scholar cannot segregate. The top five independent contractors that are not program providers or vendors are as follows: Perficient, Inc. (software development) - $1,704,645; Fry Communications, Inc. (produce and mail catalogs and brochures) - $613,535; Rackspace Technology, Inc. (technology hosting and support) - $610,537; EP Graphics, Inc. (produce and mail catalogs and brochures) - $348,250; and DS Graphics, Inc. (produce and mail catalogs and brochures) - $308,131. Form 990, Part XI, Line 9 Change in fair value of currency and commodity derivatives totaled $5,410,228.