2024-05-06T09:32:23-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2022-07-01 042103558 TRUSTEES OF THE COLLEGE OF THE HOLY CROSS TRUS 5087933497 ONE COLLEGE STREET WORCESTER MA 016102395 DOROTHY A HAUVER SENIOR VP AND TREASURER 5087933497 2024-05-06 1 DOROTHY HAUVER XXX-XX-XXXX 0 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z COLLEGE OF THE HOLY CROSS VINCENT ROUGEAU ONE COLLEGE STREET WORCESTER MA 016102395 641801207 0 X WWW.HOLYCROSS.EDU X 1843 MA COLLEGE OF THE HOLY CROSS IS A PRIVATE, JESUIT, CATHOLIC, LIBERAL ARTS COLLEGE (SEE SCHEDULE O).DEDICATED TO THE PURSUIT OF EXCELLENCE IN TEACHING, LEARNING, SERVICE OF FAITH, AND PROMOTION OF JUSTICE. 39 38 4798 2434 860960 0 48421547 37515227 226019327 240829325 78968457 29595607 173996 282232 353583327 308222391 71510720 74712627 0 0 132683786 131835199 41042 38596 9200468 102958945 110642634 307194493 317229056 46388834 -9006665 1582228068 1609954174 309217690 287611277 1273010378 1322342897 X SEE SCHEDULE OTO EDUCATE STUDENTS WHO, AS LEADERS IN BUSINESS, PROFESSIONAL, AND CIVIC LIFE, WILL LIVE BY THE HIGHEST INTELLECTUAL AND ETHICAL STANDARDS BY CREATING AN ENVIRONMENT IN WHICH INTEGRATED LEARNING IS A SHARED RESPONSIBILITY LEADING ALL MEMBERS TO MAKE THE BEST OF THEIR OWN TALENTS, TO WORK TOGETHER, TO SERVE OTHERS, AND TO SEEK JUSTICE. 0 0 273855938 74712235 240572812 THE PRIMARY PROGRAM IS UNDERGRADUATE INSTRUCTION IN THE LIBERAL ARTS THAT LEADS TO A BACHELOR OF ARTS DEGREE. THE CURRICULUM INCLUDES PROGRAMS IN THE ARTS, SCIENCES, SOCIAL SCIENCES, AND HUMANITIES. SEE DETAIL ON SCHEDULE O. 1074354 392 256513 BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY, AND BIOLOGY. THE RESEARCH IS FUNDED BY PRIVATE GRANTS AND THE US GOVERNMENT. 274930292 1 1 0 1 0 0 1 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 1 837 0 1 4798 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 39 38 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA NH X JUSTIN CAMBRIDGE 5087933497 ONE COLLEGE STREET WORCESTER MA 016102395 VINCENT D ROUGEAU PRESIDENT 45.00 0.00 X X 727825 0 147792 MEAH S AUSTIN TRUSTEE 3.00 0.00 X 0 0 0 REV MARK G BOSCO S J TRUSTEE 3.00 0.00 X 0 0 0 HELEN W BOUCHER MD TRUSTEE/CHAIR 3.00 0.00 X X 0 0 0 J CHRISTOPHER COLLINS TRUSTEE 3.00 0.00 X 0 0 0 EMMETT J DALY TRUSTEE 3.00 0.00 X 0 0 0 LORN C DAVIS TRUSTEE 3.00 0.00 X 0 0 0 RICHARD S FLAHERTY TRUSTEE 3.00 0.00 X 0 0 0 ANDREW J GARAVEL SJ TRUSTEE 3.00 0.00 X 0 0 0 REV C KEVIN GILLESPIE S J TRUSTEE 3.00 0.00 X 0 0 0 REV MICHAEL CARL GILSON SJ TRUSTEE 3.00 0.00 X 0 0 0 LAURA CUTONE GODWIN TRUSTEE 3.00 0.00 X 0 0 0 STANLEY E GRAYSON TRUSTEE 3.00 0.00 X 0 0 0 ROBERT A HARRINGTON TRUSTEE 3.00 0.00 X 0 0 0 BRODERICK D JOHNSON TRUSTEE (THRU 01/2023) 3.00 0.00 X 0 0 0 THOMAS P JOYCE JR TRUSTEE 3.00 0.00 X 0 0 0 REV GREGORY A KALSCHEUR S J TRUSTEE 3.00 0.00 X 0 0 0 ROBERT L KEANE SJ TRUSTEE 3.00 0.00 X 0 0 0 JAMES W KEYES TRUSTEE 3.00 0.00 X 0 0 0 LINDA M LEMURA TRUSTEE 3.00 0.00 X 0 0 0 STEPHANIE COLEMAN LINNARTZ TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN A LOVELETTE TRUSTEE 3.00 0.00 X 0 0 0 CHERYL A MARTIN TRUSTEE 3.00 0.00 X 0 0 0 SHAUN P MATHEWS TRUSTEE 3.00 0.00 X 0 0 0 EDWIN J MCLAUGHLIN TRUSTEE 3.00 0.00 X 0 0 0 CHRISTOPHER M MILLARD TRUSTEE 3.00 0.00 X 0 0 0 JAMES F MOONEY III TRUSTEE/VICE CHAIR 3.00 0.00 X X 0 0 0 R MICHAEL MORAN TRUSTEE 3.00 0.00 X 0 0 0 JOHN P MULLMAN TRUSTEE 3.00 0.00 X 0 0 0 REV PETER NGUYEN SJ TRUSTEE 3.00 0.00 X 0 0 0 DONNA MURPHY O'BRIEN TRUSTEE 3.00 0.00 X 0 0 0 NALANI RAMOS RUIZ TRUSTEE 3.00 0.00 X 0 0 0 SR BARBARA J ROGERS RSCJ TRUSTEE 3.00 0.00 X 0 0 0 FRANCINE ROSADO-CRUZ TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN P SKINNER TRUSTEE 3.00 0.00 X 0 0 0 BEATRIZ PINA SMITH TRUSTEE 3.00 0.00 X 0 0 0 SUZANNE K STREETER TRUSTEE 3.00 0.00 X 0 0 0 JOHN J SUYDAM TRUSTEE 3.00 0.00 X 0 0 0 BRENDAN J SWORDS TRUSTEE 3.00 0.00 X 0 0 0 TANIA TETLOW JD TRUSTEE (THRU 09/2022) 3.00 0.00 X 0 0 0 HON HARRY K THOMAS JR TRUSTEE 3.00 0.00 X 0 0 0 ELIZABETH DIONNE AVP FOR FINANCE & ASST TREASURER 45.00 0.00 X 194199 0 40589 DOROTHY A HAUVER SVP OF ADMIN & FINANCE/TREASURER 45.00 0.00 X 440248 0 98024 HEATHER HAYES SENIOR VP & CHIEF OF STAFF 45.00 0.00 X 292429 0 37220 MELANIE MITCHELL-PUCHULU SR EXEC ASST FOR PRES. & ASST SEC. 45.00 0.00 X 100537 0 43727 DANIEL RICCIARDI AVP AND ASST TREASURER 45.00 0.00 X 182669 0 58637 TRACY BARLOK VP FOR ADVANCEMENT (THRU 07/2022) 45.00 0.00 X 442510 0 42837 MARGARET FREIJE PRVST&DEAN OF COLLEGE THRU 6/22/PROF 45.00 0.00 X 324725 0 68417 MARISA GREGG VP OF COMMUNICATIONS (THRU 06/2022) 45.00 0.00 X 259978 0 11077 MICHELE MURRAY SVP OF STUDENT AFFAIRS/DOS 45.00 0.00 X 263652 0 52176 CHARLES ANDERTON PROFESSOR (THRU 09/2022) 45.00 0.00 X 292105 0 23688 ELIZABETH SMALL VP, GENERAL COUNSEL 45.00 0.00 X 305910 0 82061 ROBERT CHESNEY HEAD FOOTBALL COACH 45.00 0.00 X 300636 0 67229 DAVID CHU DIR OF CERTIFICATE PROG (THRU 07/22) 45.00 0.00 X 383593 0 24980 BRETT NELSON HEAD MEN'S BASKETBALL COACH 45.00 0.00 X 356198 0 62534 4867214 0 860988 271 1 1 0 STRATEGIC INVESTMENT GROUP 1001 19TH ST NORTH 17TH FL ARLINGTON VA 22209 INVESTMENT MANAGEMENT 2352269 DILLER SCOFIDIO & RENFRO LLC 601 WEST 26TH STREET SUITE 1815 NEW YORK NY 10001 ARCHITECTS 1219288 EYP INC 201 FULLER ROAD 5TH FLOOR ALBANY NY 12203 ARCHITECTS 1169543 COZEN O'CONNOR 200 STATE STREET SUITE 1105 BOSTON MA 02109 LEGAL 690077 DELOITTE CONSULTING LLP 1919 NORTH LYNN STREET ARLINGTON VA 22209 CONSULTANTS 581196 34 100087 5215754 32199386 1330330 37515227 TUITION AND FEES 611600 187226807 187226807 ROOM AND BOARD 611710 44083365 44083365 SALES OF AUXILLIARY SERVICES 722320 4786225 3929800 856425 ATHLETICS 611710 3522214 3517679 4535 ALL OTHER 611710 1210714 1210714 240829325 6335488 6335488 294540 0 294540 294540 294540 356765681 333505562 23260119 23260119 23260119 60946 100087 73254 -12308 -12308 308222391 239968365 860960 29877839 72085127 72085127 2627500 2627500 3636558 718335 2522320 395903 48727 48727 94388789 82281541 8041491 4065757 8089665 6828936 883986 376743 18358076 15328384 2114815 914877 7313384 6068090 912009 333285 500942 3200 497742 252868 252868 38596 38596 4696373 4696373 7072720 3850405 2729051 493264 450977 318557 119110 13310 11753023 8992047 1943832 817144 5549618 2921785 2218956 408877 12276466 11215214 924683 136569 5687893 5242714 220313 224866 753711 660719 74231 18761 9303098 8578255 724843 20904207 19089640 1814567 1975508 123161 1638411 213936 FOOD FOR DINING OPER. 6897811 5775836 440001 681974 STUDY ABROAD EXPENSES 4954693 4954693 LIBRARY COLLECTIONS 2052402 2052402 15560324 15165024 328694 66606 317229056 274930292 33098296 9200468 8184 6361 104072196 68971038 46944899 28168484 720930 801661 5070474 9676788 509401 665297 4832857 4188577 804084168 364275758 412789758 439808410 68701489 130300456 931643264 920011491 6934616 7355611 1582228068 1609954174 47389664 37244282 2880453 5311667 112928145 104707679 1056889 1131156 134123753 131348896 10838786 7867597 309217690 287611277 X 612562434 687712481 660447944 634630416 1273010378 1322342897 1582228068 1609954174 X -9006665 50328797 8010387 X 0 1 X 1 1 1 X 34981534 44461765 44590350 48421547 37515227 209970423 34981534 44461765 44590350 48421547 37515227 209970423 25062855 184907568 7940153 4113061 5231115 966194 6630028 24880551 1090014 1090014 44220 155169 60946 260335 236201323 1069018197 0.78280 0.75980 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING ACTIVITIES - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 44,220. 2021 AMOUNT: $ 155,169. 2022 AMOUNT: $ 60,946. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1460 1460 0 SCHEDULE C, PART II-B: THE COLLEGE PAID MEMBERSHIP DUES OF $87,683 DURING THE FISCAL YEAR TO CERTAIN ORGANIZATIONS WHICH MAY LOBBY ON ITS BEHALF. THE COLLEGE RECEIVED INFORMATION FROM ONE ASSOCIATION THAT DUES OF $1,460 WERE ATTRIBUTABLE TO LOBBYING EXPENDITURES. X 1 1 0 356550 2035665 X X X 0 0 1 X 992626922 18098920 77267013 12936629 27443838 4301597 1025211872 1043289368 16108656 -22279265 10342556 24719674 9429607 992626922 760298642 32439834 289366830 10342556 24282507 4190875 1043289368 785851880 4615665 4823833 9295512 21201895 4495329 760298642 783207500 6844390 29517685 9115704 21310201 3291790 785851880 0.42200 0.30900 0.26900 0 0 6530605 6530605 656917277 261909266 395008011 86070773 66499690 19571083 54565513 35866802 18698711 439808410 PRIVATE EQUITY 311915067 F GLOBAL EQUITY 274031213 F HEDGED FUND ABS. RETURN 272984556 F REAL ASSETS 36601641 F FIXED INCOME 21119597 F OTHER INVESTMENTS 3359417 F 920011491 ANNUITY OBLIGATIONS 3046797 INTEREST RATE SWAP 2564967 US GOVT REFUNDABLE ADVANCES 2255833 7867597 X 278409550 50328797 -75518519 -25189722 303599272 4696373 -73254 4623119 308222391 229077031 -8574835 -8574835 237651866 4696373 74880817 79577190 317229056 PART II, LINE 9: THE COLLEGE HAS NOT RECEIVED ANY GIFT OF PROPERTY SUBJECT TO A CONSERVATION EASEMENT AND THEREFORE DOES NOT REPORT A CONSERVATION EASEMENT IN ITS REVENUE AND EXPENSE STATEMENT OR BALANCE SHEET. TWO OF THE COLLEGE'S BUILDINGS THAT ARE USED FOR ACADEMIC AND ADMINISTRATIVE PURPOSES WERE BUILT IN THE LATE 1800'S AND ARE INCLUDED ON THE HISTORIC REGISTER. PART III, LINE 4: THROUGH BOTH CONTEMPORARY AND HISTORICAL EXHIBITIONS, THE IRIS AND B. GERALD CANTOR ART GALLERY (THE GALLERY) AT HOLY CROSS EDUCATES THE COLLEGE AND WORCESTER COMMUNITIES ABOUT THE FUNDAMENTAL INTELLECTUAL, CULTURAL, SPIRITUAL, AND AESTHETIC ISSUES ENCOUNTERED THROUGH VISUAL ART. OPEN FREE TO THE PUBLIC, THE GALLERY SEEKS TO PROMOTE AND SUPPORT THE INTELLECTUAL AND CULTURAL LIFE OF THE COLLEGE THROUGH THE PRESENTATION AND DISCUSSION OF A DIVERSITY OF VISUAL ARTS. THE GALLERY HAS SPECIAL RESPONSIBILITY FOR INTEGRATING THE LIBERAL ART VALUES OF THE COLLEGE AND THE CLASSROOM BY LINKING EXHIBITIONS TO THE BROADER CURRICULUM AND COMMUNITY. PART IV, LINE 2B: AGENCY FUNDS ARE HELD BY THE COLLEGE AS CUSTODIAN OR FISCAL AGENT. FUNDS MAY BE HELD FOR RECOGNIZED FACULTY, STAFF, STUDENT, OR ALUMNI ORGANIZATIONS THAT ARE COLLECTED FROM ACTIVITY FEES, DUES, OR FUNDRAISING. THE FUNDS ARE DEPOSITED WITH THE COLLEGE FOR SAFEKEEPING TO BE USED OR WITHDRAWN BY THE DEPOSITOR UPON PROPER AUTHORIZATION AND DOCUMENTATION. EXPENDITURES FROM THE FUND ARE USED PRIMARILY TO FUND STUDENT ACTVITIES, TRIPS, AND PROJECTS OF INTEREST TO THE STUDENTS OR TO SUPPORT COLLEGE PROGRAMS. EACH AGENCY FUND IS PROVIDED A UNIQUE COST CENTER ESTABLISHED IN THE COLLEGE FINANCIAL RECORDS. THESE COST CENTERS PROVIDE A SAFE, SECURE, AND CONVENIENT METHOD OF ACCOUNTING FOR AND ADMINISTERING THESE FUNDS. ALL CUSTODIAL FUNDS FOLLOW THE EXPENDITURE PRODECURES OUTLINED BY THE COLLEGE. PART V, LINE 2: THE COLLEGE HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2023 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, THE COLLEGE HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 975 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. THE COLLEGE'S ENDOWMENT FUND SUPPORTS THE FOLLOWING AREAS: FINANCIAL AID FOR STUDENTS, TEACHING, ACADEMIC SUPPORT, STUDENT SERVICES, AND ATHLETIC PROGRAMS. PART X, LINE 2: THE COLLEGE IS A TAX EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(A) OF THE CODE AND APPLICABLE STATE LAWS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST RATE SWAP 1,585,171. POST RETIREMENT BENEFIT CHANGES 6,425,216. INTRA-DEPARTMENTAL REVENUES 2,741,403. FINANCIAL AID RECLASS -74,712,627. BAD DEBT EXPENSE -11,518,362. AMORTIZATION OF ANNUITY OBLIGATIONS 128,870. NET MISCELLANEOUS -168,190. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -73,254. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTRA-DEPARTMENTAL REVENUES 2,741,403. FUNDRAISING EXPENSE 73,254. BAD DEBT EXPENSE -11,518,362. AMORTIZATION OF ANNUITY OBLIGATIONS 128,870. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 74,712,627. NET MISCELLANEOUS 168,190. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A SUMMARY OF THE NON-DISCRIMINATION POLICY IS INCLUDED IN PRINT, ELECTRONIC MEDIA, AND ON THE WEBSITE DESCRIBING COLLEGE ADMISSION REQUIREMENTS. SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN THE TITLE IV PROGRAM FOR CAMPUS WORK STUDY, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, DIRECT LENDING, AND PELL GRANT PROGRAMS. THE COLLEGE IS ALSO PARTICIPATING IN GRANTS WITH THE NATIONAL SCIENCE FOUNDATION AND THE NATIONAL INSTITUTES OF HEALTH TO PROVIDE STEM GRANTS TO STUDENTS STUDYING MATH OR SCIENCES AS A MAJOR. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 238177 EUROPE (INCLUDING ICELAND & GREENLAND) 0 19 PROGRAM SERVICES ATTEND COLLEGE ABROAD 3485457 SOUTH AMERICA 0 3 PROGRAM SERVICES ATTEND COLLEGE ABROAD 224071 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 647731 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 67361 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 91700 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 393145 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 1791485 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 83700 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 4550 SOUTH AMERICA 0 0 GRANTMAKING 262920 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 239061525 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 18286476 0 22 0 0 0 22 6939127 257699171 264638298 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 5 91700 ACCT CREDIT 0 SCHOLARSHIP EAST ASIA AND THE PACIFIC 23 393145 ACCT CREDIT 0 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 142 1791485 ACCT CREDIT 0 SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 3 83700 ACCT CREDIT 0 SCHOLARSHIP RUSSIA AND NEIGHBORING STATES 1 4550 ACCT CREDIT 0 SCHOLARSHIP SOUTH AMERICA 12 262920 ACCT CREDIT 0 1 0 1 1 1 0 PART I, LINE 2: THE COLLEGE MANAGES ALL RELATIONSHIPS WITH INTERNATIONAL HOST INSTITUTIONS DIRECTLY AND CONDUCTS PERIODIC EVALUATIONS OF THE PROGRAMS. STUDENTS ARE BILLED TUITION BY THE COLLEGE. THE COLLEGE MANAGES ALL ASPECTS OF THE PROGRAM AND ITS COSTS PROVIDING FOR ADVISORS, LINGUISTIC SUPPORT, AND TUTORIAL ASSISTANCE. PROGRAM COSTS, OTHER THAN SCHOLARSHIPS, ARE TRACKED BY PROGRAM LOCATION. SCHOLARSHIPS ARE PROVIDED TO STUDENTS ATTENDING PROGRAMS ABROAD USING THE SAME METHODOLOGY APPLIED TO STUDENTS WHO ATTEND CLASSES IN THE UNITED STATES AS DESCRIBED ON FORM 990, SCHEDULE I, PART IV. PART III ACCOUNTING METHOD: PART I, LINE 3: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT EXPENSES FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. PART III, LINE 1: THIS AID IS PROVIDED TO RESIDENT AND NON-RESIDENT STUDENTS ATTENDING A STUDY ABROAD PROGRAM. PART III: ACCOUNTING METHOD USED THE ACCOUNTING METHOD USED TO REPORT SCHOLARSHIPS FOLLOWS THE ACCRUAL METHOD WHICH IS ALSO THE METHOD OF THE ORGANIZATION'S BOOKS AND RECORDS. X X X X X X X 1 PLANNED GIVING MARKETING LLC 2115 MAGNOLIA LANE LAFAYETTE PA 19444 PROFESSIONAL SERVICES 0 0 32096 -32096 CARTER HALLIDAY ASSOCIATES 107 SOUTH STREET 5D BOSTON MA 02111 PROFESSIONAL SERVICES 0 0 6500 -6500 38596 -38596 CA MA NH FRIENDS OF CRUSADER FOOTBALL 94245 60455 33790 16128 13771 5389 HOCKEY GOLF OUTING 27238 12403 14835 8148 4815 1670 3 39550 27229 12321 2832 17933 2568 161033 100087 60946 27108 36519 9627 73254 -12308 1 SCHOLARSHIP 1902 72085127 0 SCHEDULE I, PART I, LINE 2: THE COLLEGE SUPPORTS A NEED BASED FINANCIAL AID POLICY THAT IS REPRESENTATIVE OF ITS ACADEMIC AND MISSION-BASED GOALS AS AN UNDERGRADUATE, JESUIT, CATHOLIC, LIBERAL ARTS COLLEGE. THE COLLEGE WILL MEET THE FULL DEMONSTRATED NEED OF EACH STUDENT AT THE TIME OF ADMISSION, AS CALCULATED ACCORDING TO NATIONALLY RECOGNIZED FINANCIAL AID CRITERIA. ALL STUDENTS ARE ENCOURAGED TO APPLY REGARDLESS OF THEIR SOCIO-ECONOMIC BACKGROUND. OVER 50% OF ALL STUDENTS ADMITTED RECEIVE SOME FORM OF FINANCIAL ASSISTANCE. STUDENTS ARE REQUIRED TO MAINTAIN SATISFACTORY ACADEMIC PROGRESS TO RECEIVE AID. X X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 VINCENT D ROUGEAU PRESIDENT 580991 0 0 0 146834 0 46993 0 100799 0 875617 0 0 0 DOROTHY A HAUVER SVP OF ADMIN & FINANCE/TREASURER 401961 0 16225 0 22062 0 33660 0 64364 0 538272 0 0 0 TRACY BARLOK VP FOR ADVANCEMENT (THRU 07/2022) 192984 0 52317 0 197209 0 20785 0 22052 0 485347 0 0 0 BRETT NELSON HEAD MEN'S BASKETBALL COACH 349529 0 5280 0 1389 0 33660 0 28874 0 418732 0 0 0 DAVID CHU DIR OF CERTIFICATE PROG (THRU 07/22) 78046 0 3245 0 302302 0 10802 0 14178 0 408573 0 0 0 MARGARET FREIJE PRVST&DEAN OF COLLEGE THRU 6/22/PROF 315680 0 4800 0 4245 0 33660 0 34757 0 393142 0 0 0 ELIZABETH SMALL VP, GENERAL COUNSEL 298704 0 4395 0 2811 0 33660 0 48401 0 387971 0 0 0 ROBERT CHESNEY HEAD FOOTBALL COACH 293709 0 4725 0 2202 0 33648 0 33581 0 367865 0 0 0 HEATHER HAYES SENIOR VP & CHIEF OF STAFF 240419 0 13825 0 38185 0 28440 0 8780 0 329649 0 0 0 MICHELE MURRAY SVP OF STUDENT AFFAIRS/DOS 258373 0 3750 0 1529 0 28260 0 23916 0 315828 0 0 0 CHARLES ANDERTON PROFESSOR (THRU 09/2022) 44428 0 2450 0 245227 0 8705 0 14983 0 315793 0 0 0 MARISA GREGG VP OF COMMUNICATIONS (THRU 06/2022) 109480 0 21437 0 129061 0 10900 0 177 0 271055 0 0 0 DANIEL RICCIARDI AVP AND ASST TREASURER 176640 0 5335 0 694 0 20100 0 38537 0 241306 0 0 0 ELIZABETH DIONNE AVP FOR FINANCE & ASST TREASURER 184943 0 8525 0 731 0 19786 0 20803 0 234788 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: THE PRESIDENT RECEIVED A HOUSING ALLOWANCE IN CALENDAR YEAR 2022. THIS AMOUNT IS INCLUDE ON SCHEDULE J, PART II, COLUMN B(III). FIRST CLASS TRAVEL: THE PRESIDENT HAD A TRAIN RIDE WHERE HE TRAVELED FIRST CLASS DURING CALENDAR YEAR 2022. PART I, LINES 4A-B LINE 4A: FORMER VICE PRESIDENT FOR ADVANCEMENT, TRACY BARLOK, SEPARATED FROM THE ORGANIZATION IN JULY OF 2022. PURSUANT TO HER AGREEMENT, SHE RECEIVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2022. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). FORMER VICE PRESIDENT FOR MARKETING AND COMMUNICATIONS, MARISA GREGG, SEPARATED FROM THE ORGANIZATION IN JULY OF 2022. PURSUANT TO HER AGREEMENT, SHE RECEIVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2022. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). THE COLLEGE HAS ESTABLISHED A VOLUNTARY EARLY RETIREMENT PROGRAM FOR TENURED FACULTY MEMBERS WHO HAVE COMPLETED FIFTEEN YEARS OF SERVICE AND ATTAINED THE AGE OF SIXTY-TWO. ELIGIBLE FACULTY MEMBERS ARE ENTITLED TO A PERCENTAGE PAYOUT THAT DECREASES WITH AGE. IN ADDITION, ELIGIBLE FACULTY MEMBERS ARE ABLE TO REMAIN ENROLLED IN THE COLLEGE'S AVAILABLE MEDICAL HEALTH PLANS. CHARLES ANDERTON RETIRED IN SEPTEMBER 2022 AND RECEIVED $204,025 IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGE'S EARLY RETIREMENT PROGRAM. DAVID CHU RETIRED IN JULY 2022 AND RECEIVED $250,879 IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGE'S EARLY RETIREMENT PROGRAM. THERE ARE NO OTHER AMOUNTS TO BE PAID. LINE 4B: THE PRESIDENT PARTICIPATES IN A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT. AMOUNTS ACCRUED UNDER THE ARRANGEMENT IN CALENDAR YEAR 2022 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. PART I, LINE 7 NON-FIXED PAYMENTS ON OCCASION CERTAIN INDIVIDUALS MAY RECEIVE BONUSES RELATED TO MERIT AND RETENTION. THESE PAYMENTS ARE REVIEWED AND APPROVED AS PART OF THE OVERALL COMPENSATION FOR EACH RESPECTIVE INDIVIDUAL. A MDFA 2008A 043431814 57583RUZ6 2008-05-08 45340000 REFUNDING 2007A ISSUE 0 0 0 B MDFA 2016A 043431814 57584XLE9 2016-04-06 42545003 REFUND 2008B ISSUE & CONSTRUCTION 0 0 0 C MDFA 2017A 043431814 57584XR60 2017-06-06 14441700 REFUNDING 2007B ISSUE 0 0 0 D MDFA 2018A 043431814 57584YFT1 2018-06-07 24144512 REFUNDING 2008B ISSUE 0 0 0 A 15890000 45340000 181594 158406 45000000 1 0 1 1 B 4550000 42545003 476785 30004560 12063658 2018 0 1 1 1 C 10390000 14441700 208409 14233291 1 0 1 1 D 9780000 24144512 311467 23833045 1 0 1 1 A 0 1 1 0 1 1 0.00000 0.00910 0.00910 0 0 1 B 0 1 1 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 BANK OF AMERICA LLC 30.000000000000 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 PART II, LINE 11: THE OTHER SPENT PROCEEDS FROM THE MDFA 2008A WAS USED TO REFUND THE 2007A BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2016A WAS USED TO REFUND THE 2008B BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2017A WAS USED TO REFUND THE 2007B BOND ISSUE. THE OTHER SPENT PROCEEDS FROM THE MDFA 2018A WAS USED TO REFUND THE 2008B BOND ISSUE. MATTHEW FREIJE KEY EE FAMILY 48727 EMPLOYMENT 0 SCHEDULE L, PART IV, LINE 2: MATTHEW FREIJE, AN EMPLOYEE OF THE COLLEGE IS RELATED TO A KEY EMPLOYEE AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES TOTALING $48,727 DURING FISCAL YEAR 2023. X 3 356550 EXPERT OPINION X 83 973780 COST 4 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE TO THE COLLEGE. FORM 990, PART III, LINE 4A: THE PRIMARY PROGRAM IS UNDERGRADUATE INSTRUCTION IN THE LIBERAL ARTS THAT LEADS TO A BACHELOR OF ARTS DEGREE. THE CURRICULUM INCLUDES PROGRAMS IN THE ARTS, SCIENCES, SOCIAL SCIENCES, AND HUMANITIES. THE PROGRAM EMPHASIZES ACADEMIC BREADTH AND DEPTH SUPPORTED BY ESSENTIAL FOUNDATIONAL SKILLS, SUCH AS CRITICAL THINKING, CLEAR COMMUNICATION, CAREFUL ANALYSIS, AND SYNTHESIS OF INFORMATION, THAT ARE RELEVANT IN EVERY LINE OF WORK AND STUDY. THE COLLEGE'S ENROLLMENT IN FALL 2022 (FISCAL 2023) WAS APPROXIMATELY 3,200 INCLUDING APPROXIMATELY 900 FIRST-YEAR STUDENTS. FORM 990, PART VI, SECTION A, LINE 1A THE COLLEGE'S EXECUTIVE COMMITTEE IS SUBORDINATE TO THE BOARD OF TRUSTEES. HOWEVER, BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, THE EXECUTIVE COMMITTEE HAS ALL THE POWERS AND DUTIES OF THE BOARD OF TRUSTEES EXCEPT TO APPROVE OR AUTHORIZE CHANGES IN THE ARTICLES OF INCORPORATION OR BYLAWS; TO REMOVE OR ELECT OFFICERS OF THE CORPORATION OR THE PRESIDENT OF THE COLLEGE; TO EFFECT ANY MAJOR CHANGE IN THE NATURE OF THE OPERATIONS OF THE COLLEGE; TO AUTHORIZE ANY MORTGAGE OR ENCUMBRANCE ON ALL OR ANY SUBSTANTIAL PART OF THE PROPERTY OF THE CORPORATION; OR TO CONFER HONORS OR DEGREES. EXECUTIVE COMMITTEE MEMBERS ARE MEMBERS OF THE BOARD OF TRUSTEES. THE COMMITTEE FOR THE YEAR ENDED JUNE 30, 2023 INCLUDED; HELEN W. BOUCHER, M.D., REV. C. KEVIN GILLESPIE, S.J., THOMAS P. JOYCE, JR., JAMES F. MOONEY III, SR. BARBARA J. ROGERS, RSCJ, AND VINCENT D. ROUGEAU. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS PROVIDED TO THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK OF THE BOARD OF TRUSTEES SUFFICIENTLY IN ADVANCE OF THE FILING DEADLINE TO ENABLE A DETAILED AND CONSCIENTIOUS REVIEW BY ALL MEMBERS OF THE COMMITTEE WITH MANAGEMENT AND THE COLLEGE'S TAX ADVISOR. ALL QUESTIONS AND CONCERNS OF THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK MEMBERS ARE ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK REVIEW, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A COMPLETE FORM 990 IN ADVANCE OF THE FILING DEADLINE VIA A DEDICATED COLLEGE WEBSITE. ALL QUESTIONS AND CONCERNS OF THE MEMBERS OF THE BOARD OF TRUSTEES ARE ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER ALL INPUT FROM THE BOARD OF TRUSTEES AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK HAS BEEN APPROPRIATELY ADDRESSED, THE TREASURER OF THE COLLEGE AUTHORIZES THE COLLEGE'S TAX ADVISOR TO FILE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ASSUME RESPONSIBILITY FOR CONSIDERING POSSIBLE CONFLICTS OF INTEREST THAT ARISE DURING SERVICE WITH THE COLLEGE. TO HELP OFFICERS, TRUSTEES, AND KEY EMPLOYEES IDENTIFY POSSIBLE CONFLICTS OF INTEREST, THE COLLEGE HAS DEVELOPED A DISCLOSURE FORM THAT MUST BE COMPLETED AND UPDATED AT LEAST ANNUALLY DURING THE COURSE OF THEIR SERVICE. OFFICERS, TRUSTEES, AND KEY EMPLOYEES MUST ALSO DISCLOSE ANY CONFLICT OF INTEREST AS SOON AS THEY BECOME AWARE OF ANY CONFLICT. THE COLLEGE'S ASSISTANT TREASURER, IN CONSULTATION WITH GENERAL COUNSEL, WILL REVIEW THE DISCLOSURES AND REPORT CONFLICTS OF INTEREST TO THE CHAIR OF THE BOARD OF TRUSTEES AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK CONSIDERS THE BEST INTEREST OF THE COLLEGE AND THE NATURE OF THE CONFLICT. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK EVALUATES THE CIRCUMSTANCES OF THE ISSUE OR TRANSACTION TO ENSURE THAT IT IS REASONABLE AND THAT THEY HAVE CONSIDERED ANY POTENTIAL IMPLICATIONS OF ENTERING INTO A TRANSACTION OR DECIDING AN ISSUE WHERE A CONFLICT EXISTS. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK MAY CONSIDER WHETHER ADVICE FROM LEGAL COUNSEL OR OTHER INDEPENDENT ADVISORS IS NECESSARY IN PARTICULAR INSTANCES. THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK WILL DELIBERATE ON THE REPORTED CONFLICT AND VOTE TO MAKE ONE OF TWO DETERMINATIONS: THAT NO MATERIAL CONFLICT OF INTEREST EXISTS AND NO ACTION IS NECESSARY OR THAT A MATERIAL CONFLICT OF INTEREST DOES EXIST AND DETERMINE HOW TO ADDRESS THE IDENTIFIED CONFLICT. THESE FINDINGS WILL BE COMMUNICATED WITH THE CHAIR OF THE BOARD OF TRUSTEES AND THE BOARD MEETING MINUTES SHALL REFLECT THE NATURE OF THE CONFLICT AND THE COMMITTEE ON AUDIT AND INSTITUTIONAL RISK'S DETERMINATION WITH RESPECT TO THE SPECIFIC PROCEDURES THE MEMBER WILL FOLLOW REGARDING THE ISSUE OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE BYLAWS (ARTICLE 2, SECTION 6) OF THE COLLEGE ESTABLISH THAT THE BOARD OF TRUSTEES HAS THE AUTHORITY TO HIRE, EMPLOY, AND SET THE REMUNERATION OF THE PRESIDENT AND OFFICERS OF THE CORPORATION. THE EXECUTIVE COMMITTEE, AN INDEPENDENT AUTHORIZED BODY OF THE BOARD OF TRUSTEES, HAS BEEN ASSIGNED THE RESPONSIBILITY FOR EVALUATING COMPENSATION REASONABLENESS FOR ALL OFFICERS AND HIGHLY PAID EMPLOYEES. THE EXECUTIVE COMMITTEE REVIEWS THE ENTIRE COMPENSATION PACKAGE INCLUDING BENEFITS BY ASSESSING THE NATURE AND SCOPE OF EACH POSITION, ASSESSING THE INDIVIDUALS HOLDING EACH POSITION INCLUDING THEIR UNIQUE BACKGROUND, EXPERIENCE, PERSONAL SKILLS, PERFORMANCE, AND BY OBTAINING APPROPRIATE AND COMPARABLE COMENSATION MARKET DATA FROM SIMILARLY SITUATED ORGANIZATIONS, BOTH FOR-PROFIT AND TAX-EXEMPT FOR FUNCTIONALLY COMPARABLE POSITIONS INCLUDING COMPARATIVE DATA FROM OTHER COLLEGES AND UNIVERSITIES, MARKET SURVEYS, AND INDEPENDENT COMPENSATION SURVEYS BY NATIONALLY RECOGNIZED INDEPENDENT FIRMS. THE EXECUTIVE COMMITTEE DELIBERATES THE INFORMATION PROVIDED AND RELATIVE CONTRIBUTION OF EACH INDIVIDUAL BEFORE VOTING ON A COMPENSATION PACKAGE. RECORDS OF THE EXECUTIVE COMMITTEE ARE ADEQUATELY DOCUMENTED. THE LAST EXTERNAL COMPENSATION STUDY WAS PERFORMED IN JUNE OF 2022. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, ARTICLES OF INCORPORATION, AND BYLAWS ARE AVAILABLE UPON REQUEST. THE CONFLICT-OF-INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. THE COLLEGE'S FINANCIAL STATEMENTS ARE POSTED ON THE COLLEGE WEBSITE UNDER THE OFFICE OF THE CONTROLLER. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST RATE SWAP AGREEMENT 1,585,171. POST RETIREMENT BENEFIT CHANGES 6,425,216. QUINSIGAMOND VILLAGE LLC ONE COLLEGE STREET WORCESTER MA 01610 464605316 REAL ESTATE MA 0 1190000 HOLY CROSS CHARITABLE REMAINDER TRUSTS (8) ONE COLLEGE STREET WORCESTER MA 01610 CHAR REMAINDE MA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0