2024-05-01T17:15:53-07:00 2023-06-30 990 2022-07-01 930386908 REED INSTITUTE REED 5037777505 3203 SE Woodstock Blvd Portland OR 972028199 Robert Tust Associate Treasurer and Controller 5037777505 2024-05-13 Robert Tust 999009999 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z REED COLLEGE Robert Tust Business Office 3203 SE Woodstock Blvd Portland OR 97202 217523744 0 X www.reed.edu X 1908 OR Provide education in the liberal arts and sciences 30 29 1757 836 4959217 809254 24672636 24438552 115186295 114923252 38832631 10135189 6131447 856467 184823009 150353460 38834177 37455093 0 0 64446582 68079418 0 0 5539387 43080669 46595189 146361428 152129700 38461581 -1776240 1011067544 1040957477 181952607 177665295 829114937 863292182 The mission of Reed College is to provide education in the liberal arts and sciences. 0 0 2498707 2498707 The Institute had 32 research grants funded with federal funds. Departments funded were Biology, Chemistry, Humanities, Physics, Psychology, Math, Sociology, and the nuclear reactor. 111900179 35807729 95540959 1,506 FTE Students as of Fall 2022, 304 degrees conferred 22/23. 21735560 16883586 Auxiliary services - students living in dorms, using dining facilities and bookstore. 0 0 0 136134446 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 2039 0 1 1757 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 30 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 OR X X Lynn Valenter 5037777240 Vice President and Treasurer 3203 SE Woodstock Blvd Portland OR 972028199 Audrey Bilger President 40 0 X X 588465 0 48161 Hugh Porter Vice President for College Relations and Planning 40 0 X 393170 0 51090 Erik Bernhardt Chief Investment Officer 40 0 X 390594 0 53344 Lynn Valenter Vice President of Finance and Treasurer 40 0 X 348223 0 48161 Amanda Heaton Executive Director of Public Affairs (through 6/30/22) 40 0 X 339238 0 20310 Kathryn Oleson Dean of the Faculty 40 0 X 232559 0 43493 Milyon Trulove Vice President and Dean of Admission and Financial Aid 40 0 X 226996 0 45287 Andrew Lonergan Director of Investments 40 0 X 208694 0 38852 Karnell McConnell-Black Vice President for Student Life 40 0 X 213470 0 31043 Robert Tust Associate Treasurer and Controller 40 0 X 190542 0 41825 Sarah Panetta Executive Director of Advancement 40 0 X 189563 0 35187 Valerie Moreno Chief Information & Security Officer 40 0 X 182951 0 32165 Phyllis Esposito Vice President and Dean for Institutional Diversity 40 0 X 99967 0 18247 Laurence Abramson '80 Trustee 1 0 X 0 0 0 Dr Julia P Adams '80 Trustee 1 0 X 0 0 0 Konrad S Alt '81 Trustee 1 0 X 0 0 0 Dr Michael S Axley '89 Trustee 1 0 X 0 0 0 Carla J Beam '76 Trustee 1 0 X 0 0 0 Peter J Bragdon Trustee 1 0 X 0 0 0 M Jane Buchan Trustee 1 0 X 0 0 0 Julie J L Cheng '84 Trustee 1 0 X 0 0 0 Thomas O Daniel MD Trustee 1 0 X 0 0 0 Nicholas Galakatos '79 Trustee 1 0 X 0 0 0 Edward Hall '87 Trustee 1 0 X 0 0 0 Linda G Howard '70 Trustee 1 0 X 0 0 0 George M James '77 Trustee 1 0 X 0 0 0 Deborah D Kamali '85 Trustee 1 0 X 0 0 0 Christine E Lewis '07 Trustee (through 4/2023) 1 0 X 0 0 0 Amy M Madigan Trustee 1 0 X 0 0 0 Alex J Martinez '73 Trustee 1 0 X 0 0 0 Winthrop McCormack Trustee 1 0 X 0 0 0 Adrienne Nelson Trustee (through 4/2023) 1 0 X 0 0 0 Margaret Hill Noto '75 Trustee-Secretary 1 0 X 0 0 0 Eduardo Ochoa '73 Trustee 1 0 X 0 0 0 Ritankar Pal '93 Trustee 1 0 X 0 0 0 Roger M Perlmutter MD '73 Trustee-Chairman 1 0 X 0 0 0 Gary Rieschel '79 Trustee 1 0 X 0 0 0 Lisa Saldana '94 Trustee 1 0 X 0 0 0 John P Sheehy '82 Trustee 1 0 X 0 0 0 Tina Sohaili-Korbonits '07 Trustee 1 0 X 0 0 0 Susan Sokol Blosser MAT '67 Trustee 1 0 X 0 0 0 Alice Larkin Steiner '74 Trustee 1 0 X 0 0 0 Peter C Stockman '77 Trustee 1 0 X 0 0 0 Richard H Wollenberg '75 Trustee-Vice Chairman 1 0 X 0 0 0 3604432 0 507165 134 0 1 0 Reimers & Jolivette Inc 2344 NW 24th Ave Portland OR 972102132 Construction 7748145 Bon Appetit Suite 100 2730 Sand Hill Road Menlo Park CA 94025 Food service 5542545 Fortis Construction Inc 1705 SW Taylor St Ste 200 Portland OR 97205 Construction 3708304 Otto Harrassowitz 65174 Wiesbaden Allenmagne GM 65174 Library services and subcriptions 1842602 Zimmer Gunsul Frasca Architects LLP 1223 SW Washington St Ste 200 Portland OR 97205 Architectural services 1092288 41 0 0 0 0 3916065 20522487 5969374 24438552 Tuition and fees 611310 93928243 93928243 0 0 Aux-Dorm fees 611710 8528508 8528508 0 0 Aux-Cafeteria fees 611710 6850500 6850500 0 0 Aux-Bookstore fees 611710 951615 951615 0 0 Other fees 611310 4664386 4664386 0 0 0 0 0 0 114923252 1662915 0 4009263 -2346348 0 0 0 0 0 0 0 0 450272 0 319048 0 131224 0 131224 0 0 131224 75323510 0 66851236 0 8472274 0 8472274 0 949954 7522320 0 Post retirement benefit 900099 725243 0 0 725243 0 0 0 0 725243 150353460 114923252 4959217 6032439 X 0 0 37455093 37455093 0 0 0 0 2705013 864783 1363499 476731 0 0 0 0 45202864 39653448 2855130 2694286 4127573 3490907 363462 273204 12561580 10623994 1106136 831450 3482388 2945240 306649 230499 0 0 0 0 883318 655 882663 0 242137 1762 240375 0 0 0 0 0 0 0 0 0 0 0 16774403 15415825 1003534 355044 0 0 0 0 7468972 7070418 192545 206009 1661804 1494600 96783 70421 0 0 0 0 2529742 2485501 37547 6694 2278898 1835988 166783 276127 0 0 0 0 0 0 0 0 4982650 4708015 233080 41555 0 0 0 0 6990347 6622197 312445 55705 1821918 700491 1121406 21 Deb issuance cost 23677 23677 0 0 937323 741852 173830 21641 152129700 136134446 10455867 5539387 42182 43703 41966996 11221978 5828973 4163599 6368940 2607385 51328 45699 0 0 2052332 1644425 0 0 1126160 1411946 300541166 131467298 159518908 169073868 156104936 171373929 635272450 671740531 0 0 2734339 7630414 1011067544 1040957477 12106686 9354865 0 0 1866982 1782975 0 0 0 0 51328 45699 0 0 123840050 123883091 44087561 42598665 181952607 177665295 X 454877410 467513696 374237527 395778486 829114937 863292182 1011067544 1040957477 -1776240 35953485 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 40000 0 590028 0 1 1 696435203 10905209 46718662 10114676 21895500 1181780 720867118 747245126 8981442 -29276734 9254153 20216123 1044355 696435203 545093997 3583571 228220147 9007314 19705050 940225 747245126 552893342 10392051 10802125 8809045 19215535 968941 545093997 555583468 5887789 19616221 8653378 18923206 617552 552893342 0.51 0.29 0.2 0 0 0 14437445 14437445 0 258479018 113985397 144493621 0 0 0 0 0 19090289 17481901 1608388 0 8534414 0 8534414 169073868 0 0 Alternative Investments 671740531 F 671740531 Postretirement benefits payable 23956557 Liability for split-interest agreements 11132308 Asset retirement obligation 6241246 Refundable loan programs 677161 Other 591393 42598665 150793264 35953485 0 0 0 35953485 114839779 0 35513681 35513681 150353460 116622630 0 0 0 0 0 116622630 0 35507070 35507070 152129700 Schedule D, Part V, Line 4 The college's endowment funds are used for scholarships, chairs, academic support, library support, student services, and general operating support. Schedule D, Part XI, Line 4b Scholarship $35,807,729; Rental expenses -$319,048; Grayco $25,000 Schedule D, Part XII, Line 4b Scholarships $35,807,729; Rental expenses -$319,048; Grayco $18,389 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Link to Title IX policy and Diversity, Equity and Inclusion are available on the main website - http://www.reed.edu/ Schedule E, Part I, Line 6 Financial assistance is from TItle IV programs and Federal emergency grants (Higher Education Emergency Relief Fund and Federal Emergency Management Agency). Central America and the Caribbean 0 0 Investments 24369591 Europe (including Iceland and Greenland) 0 0 Investments 10936013 South Asia 0 0 Investments 3144706 East Asia and the Pacific 0 0 Investments 2158709 0 0 40609019 1 0 1 1 1 0 1 Scholarships to students for tuition, fees, room and board 845 35807729 0 Fellowships and research grants to students 341 1329999 0 Scholarships to students for course and program fees 111 317365 0 Schedule I, Part I, Line 2 The financial aid office awards grants to students based on the student financial aid application. Once classes begin, grants are disbursed to the student account where they offset tuition charges. X X X X X 1 1 X X X 1 0 0 0 0 0 0 0 0 Audrey Bilger President 541101 0 0 0 47364 0 30500 0 17661 0 636626 0 0 0 Hugh Porter Vice President for College Relations and Planning 391322 0 0 0 1848 0 30500 0 20590 0 444260 0 0 0 Erik Bernhardt Chief Investment Officer 348600 0 41093 0 900 0 30500 0 22844 0 443937 0 0 0 Lynn Valenter Vice President of Finance and Treasurer 347323 0 0 0 900 0 30500 0 17661 0 396384 0 0 0 Amanda Heaton Executive Director of Pulblic Affairs 116874 0 0 0 222364 0 11656 0 8654 0 359548 0 0 0 Kathryn Oleson Dean of the Faculty 232559 0 0 0 0 0 23256 0 20237 0 276052 0 0 0 Milyon Trulove Vice President and Dean of Admission and Financial Aid 226096 0 0 0 900 0 22610 0 22677 0 272283 0 0 0 Andrew Lonergan Director of Investments 186155 0 21944 0 595 0 18615 0 20237 0 247546 0 0 0 Karnell McConnell-Black Vice President for Student Life 213470 0 0 0 0 0 21347 0 9696 0 244513 0 0 0 Robert Tust Associate Treasurer and Controller 190542 0 0 0 0 0 19054 0 22771 0 232367 0 0 0 Sarah Panetta Executive Director of Advancement 188663 0 0 0 900 0 18866 0 16321 0 224750 0 0 0 Valerie Moreno Chief Information & Security Officer 182951 0 0 0 0 0 17786 0 14379 0 215116 0 0 0 Phyllis Esposito Vice President and Dean for Institutional Diversity 95197 0 0 0 4770 0 9520 0 8727 0 118214 0 0 0 Schedule J, Part I, Line 1a Housing is required as a condition of employment for the President and is provided as a taxable benefit. In limited circumstances, first-class accommodations are provided for the president and companion travel for bona-fide business purposes. The college pays membership dues to health and social clubs for use by certain officers for meetings and networking related to college business. The college does not directly indemnify individuals in regard to taxes; however, it has in some circumstances, grossed-up the benefit to offset a portion of the employee's taxable benefit. Schedule J, Part I, Line 4 Amanda Heaton received $222,364 in contractual payment. Amount was included in the individual's W-2 income and reportable compensation on schedule J. Milyon Trulove Current Officer Housing Loan X 60000 45699 0 0 1 45699 X 42 2428858 market value X 2 3540516 market value 2 0 1 0 Schedule M, Part I, Line 9 The number reported in Part 1, column (b) represents a combination of contributions and items contributed. Form 990, Part VI, Section B, Line 11b An electronic draft of the Form 990 is provided to the Audit Committee of the Board of Trustees. The committee reviews, discusses, and provides input to management. After the Audit Committee accepts the Form 990, it is made available to all trustees for review. After any further trustee questions are resolved and a final copy of the return has been provided to the entire board, the Form 990 is filed. A summary of Schedule B rather than the full schedule was distributed to the Audit committee and the entire board to maintain donor confidentiality. Form 990, Part VI, Section B, Line 12c Reed requires all officers and institutional trustees to complete a conflict of interest form annually. The form includes the college's conflict of interest policy and asks each individual about the existence of conflicts of interest. If a conflict of interest exists the officer or trustee is asked to describe the situation in their response. These forms are reviewed by the Vice-President and Treasurer and the Chair of the Audit Committee of the Board. Persons with a conflict are prohibited from participating in the Board and officer deliberations and decisions in those transactions. Form 990, Part VI, Section B, Line 15 The Executive Committee, which is comprised of independent Trustees and which functions as the College's compensation committee, annually reviews presidential and officer compensation data from comparable colleges along with other data provided by the Human Resources Office. They also conduct an annual performance evaluation of the President and review of salary changes proposed by the President for other officers. Any changes in the President's compensation are approved by the Executive Committee, and communicated by the Chair of the Board of Trustees in writing to the President. These reviews are completed in June of each year. Form 990, Part VI, Section C, Line 19 Governing documents are available upon request. Conflict of interest policy and financial statements are available on the College's Office of the Treasurer website. Form 990, Part IX, Line 11g Other fees and services by function are as follows: Auxiliary and food services $5,705,634; Construction and maintenance $2,899,217; Student services $2,293,207; Instruction $1,685,050; Institutional Support $1,292,388; Public affairs $1,184,795; Research $1,046,375; Academic support $667,737. David Eddings Fund LLC 3203 SE Woodstock Blvd Portland OR 97202 450929229 Holding Company OR REED INSTITUTE Excluded 138373 237761 0 0 1 0.67 Grayco Resources Inc 3203 SE Woodstock Blvd Portland OR 97202 930603357 Rental Activity OR The Reed Institute C 70000 1052545 1 1 Charitable remainder trust (28) 3203 SE Woodstock Blvd Portland OR 97202 Trust OR The Reed Institute T 0 Pooled Income Fund (1) 3203 SE Woodstock Blvd Portland OR 97202 Pooled Income Fund OR The Reed Institute T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 Grayco Resources Inc s 52383 Loan payments