2024-05-14T08:33:59-05:00 2023-06-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2022-07-01 042103637 WELLESLEY COLLEGE WELL 7812831000 106 CENTRAL STREET WELLESLEY MA 024818203 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS 7812831000 2024-05-10 1 PIPER ORTON 999009999 0 SHYAMALEE JOSEPH P01085371 6179881000 2024-05-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PAULA A JOHNSON 106 CENTRAL STREET WELLESLEY MA 024818203 459469216 0 X WWW.WELLESLEY.EDU X 1870 MA TO PROVIDE AN EXCELLENT LIBERAL ARTS EDUCATION FOR WOMEN WHO WILL MAKE A DIFFERENCE IN THE WORLD. 34 33 2946 0 1544315 1151175 60807794 45718423 184443403 187033270 218304861 141015186 11284572 11802952 474840630 385569831 79352912 76983234 0 0 150293912 145369352 0 0 7501844 117545198 118378418 347192022 340731004 127648608 44838827 3730562132 3757832303 629282773 610133786 3101279359 3147698517 TO PROVIDE AN EXCELLENT LIBERAL ARTS EDUCATION FOR WOMEN WHO WILL MAKE A DIFFERENCE IN THE WORLD. 0 0 175559272 0 184599148 OUTSTANDING EDUCATION: WELLESLEY COLLEGE IS COMMITTED TO ENSURING THAT OUR EXCELLENT LIBERAL ARTS CURRICULUM IS BOTH INTELLECTUALLY AND CULTURALLY BROAD TO PREPARE OUR GRADUATES FOR THEIR LIVES AFTER COLLEGE. WELLESLEY OFFERS MORE THAN 50 DEPARTMENTAL AND INTERDEPARTMENTAL MAJORS TO APPROXIMATELY 2,300 STUDENTS. THE AVERAGE CLASS SIZE IS 17 TO 20 STUDENTS WITH A 7:1 STUDENT-FACULTY RATIO. 79716172 76983234 0 WELLESLEY COLLEGE HAS A LONG TRADITION OF NEED-BLIND ADMISSION FOR U.S. CITIZENS AND PERMANENT RESIDENTS, MAKING ADMISSION DECISIONS WITHOUT REGARD TO A FAMILY'S FINANCIAL SITUATION. THROUGH ITS FINANCIAL AID PROGRAM, THE COLLEGE MEETS 100 PERCENT OF A STUDENT'S DEMONSTRATED FINANCIAL NEED. RESOURCES DEDICATED TO THE FINANCIAL AID PROGRAM ENSURE THAT WELLESLEY IS SUCCESSFUL IN RECRUITING AND ENROLLING A STRONG AND DIVERSE STUDENT BODY WITH CONTINUED ATTENTION TO ISSUES OF FINANCING AND AFFORDABILITY. APPROXIMATELY 60% OF THE STUDENT BODY RECEIVES FINANCIAL AID AND WELLESLEY IS WIDELY RECOGNIZED AS ONE OF THE TOP 10 COLLEGES IN THE COUNTRY FOR STUDENTS GRADUATING WITH THE LEAST AMOUNT OF DEBT. 12168372 0 12168372 SPONSORED RESEARCH: WELLESLEY PRIDES ITSELF ON ITS COMMITMENT TO SUPPORTING THE TEACHER-SCHOLAR IDEAL, ENABLING OUR GIFTED FACULTY MEMBERS TO INTEGRATE THEIR LOVE OF TEACHING AND WORKING CLOSELY WITH STUDENTS WITH THEIR PURSUIT OF THE ADVANCEMENT OF KNOWLEDGE THROUGH THEIR WORLD-CLASS RESEARCH. 267443816 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 496 0 1 2946 1 1 1 1 FR 0 0 0 0 0 0 0 0 1 1 X 34 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X X PIPER ORTON 7812831000 106 CENTRAL STREET WELLESLEY MA 02481 PAULA A JOHNSON PRESIDENT 60.00 0.00 X X 730275 0 152996 DEBORA DE HOYOS CHAIR 12.00 0.00 X 0 0 0 CHRISTOPHER T PASKO VICE CHAIR 10.00 0.00 X 0 0 0 TODD ABBRECHT TRUSTEE 2.00 0.00 X 0 0 0 MARTHA GOLDBERG ARONSON TRUSTEE 2.00 0.00 X 0 0 0 DOLORES L ARREDONDO TRUSTEE 2.00 0.00 X 0 0 0 M AMY BATCHELOR TRUSTEE 2.00 0.00 X 0 0 0 BRIAN C BRODERICK TRUSTEE 2.00 0.00 X 0 0 0 LAURA WOOD CANTOPHER TRUSTEE 2.00 0.00 X 0 0 0 ANNE SHEN CHAO TRUSTEE 2.00 0.00 X 0 0 0 ELYSE CHERRY TRUSTEE 2.00 0.00 X 0 0 0 CALLIE CROSSLEY TRUSTEE 2.00 0.00 X 0 0 0 OPHELIA DAHL TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH DESMOND TRUSTEE 2.00 0.00 X 0 0 0 SUZANNE FREY TRUSTEE 2.00 0.00 X 0 0 0 BETH C FRIEDMAN TRUSTEE 2.00 0.00 X 0 0 0 SARAH JANE GUNTER TRUSTEE 2.00 0.00 X 0 0 0 CHERYL HAYWOOD TRUSTEE 2.00 0.00 X 0 0 0 MAIA HEYMANN TRUSTEE 2.00 0.00 X 0 0 0 DOUGLAS W HOLLETT TRUSTEE 2.00 0.00 X 0 0 0 SANDRA HORBACH TRUSTEE 2.00 0.00 X 0 0 0 VIVIAN KAO TRUSTEE 2.00 0.00 X 0 0 0 SUSAN SALTZBART KILSBY TRUSTEE 2.00 0.00 X 0 0 0 PATRICK LEE TRUSTEE 2.00 0.00 X 0 0 0 SUSAN KOENIGSBERG LUCAS TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH F MCCORMACK TRUSTEE 2.00 0.00 X 0 0 0 TATIANA IVY MOISE TRUSTEE 2.00 0.00 X 0 0 0 PAULINA PONCE DE LEON BARIDO TRUSTEE 2.00 0.00 X 0 0 0 LIA GELIN POORVU TRUSTEE 2.00 0.00 X 0 0 0 SOPHIA SHAW TRUSTEE 2.00 0.00 X 0 0 0 JENNIFER M SMITH TRUSTEE 2.00 0.00 X 0 0 0 GRACE Y TOH TRUSTEE 2.00 0.00 X 0 0 0 PETER TUFANO TRUSTEE 2.00 0.00 X 0 0 0 SUE WAGNER TRUSTEE 2.00 0.00 X 0 0 0 DEBORAH F KUENSTNER CHIEF INVESTMENT OFFICER 60.00 0.00 X 1184564 0 61327 ANDREW SHENNAN PROVOST AND DEAN OF COLLEGE 60.00 0.00 X 373066 0 131053 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS. 60.00 0.00 X 407876 0 42625 MARY CASEY VP FOR DEVELOPMENT & PUB. AFF. 60.00 0.00 X 302935 0 20387 SHEILAH HORTON DEAN OF STUDENTS 60.00 0.00 X 276254 0 119628 MEGAN NUNEZ DEAN OF FACULTY AFFAIRS 60.00 0.00 X 240743 0 48477 MICHAEL JEFFRIES DEAN OF ACADEMIC AFF. 60.00 0.00 X 232491 0 46065 ROSE C CARPENTER MANAGING DIRECTOR TO DEPUTY CIO 60.00 0.00 X 988495 0 59834 RAY OQUENDO CHIEF OPERATING OFFICER 60.00 0.00 X 921837 0 60699 GREG ROZOLSKY INVESTMENT DIRECTOR 60.00 0.00 X 643577 0 44021 MATTHEW VEILLEUX INVESTMENT DIRECTOR 60.00 0.00 X 544287 0 40320 KAREN PETRULAKIS GENERAL COUNSEL 60.00 0.00 X 385185 0 60437 ANN VELENCHIK FORMER DEAN OF ACADEMIC AFF. 60.00 0.00 X 203140 0 44270 JOY ST JOHN DEAN-ADMISS. & STU. FIN. SVCS 60.00 0.00 X 127552 0 26058 7562277 0 958197 285 1 1 0 ELAINE CONSTRUCTION COMPANY 90 WELLS AVE NEWTON MA 02459 CONSTRUCTION 7425437 TURNER CONSTRUCTION COMPANY 2 SEAPORT LANE - 2ND FLOOR BOSTON MA 02210 CONSTRUCTION 6303439 AMERESCO INC PO BOX 419135 BOSTON MA 02241 ENGINEERING SERVICES 5023984 WALSH BROTHERS INCORPORATED 210 COMMERCIAL STREET BOSTON MA 02109 CONSTRUCTION 4352545 FISCHBACH AND MOORE ELECTRIC GROUP LLC 60 TENEAN STREET BOSTON MA 02122 ELECTRICIAN 3623958 131 5923232 39795191 1750000 45718423 STUDENT TUITION AND FEES 900099 144482496 144482496 STUDENT ROOM AND BOARD 900099 41149515 41149515 WELLESLEY CENTER FOR WOMEN 900099 1401259 1401259 187033270 21372571 -3104185 24476756 193542000 73899385 119642615 119642615 2579798 117062817 AUXILIARY ENTERPRISES 900099 3739264 3739264 NEHOIDEN GOLF CLUB 713990 2068702 2068702 5994986 5994986 11802952 385569831 196767520 1544315 141539573 70439518 70439518 6543716 6543716 3806607 1639677 2069300 97630 107290067 79222200 23726744 4341123 9400706 7648860 1455973 295873 17448981 13796305 3186685 465991 7422991 5409067 1765963 247961 6410793 33108 6374911 2774 802500 11664 790836 452068 452068 158590 158590 15837901 4999713 10319530 518658 5781267 3563355 2165474 52438 3780600 3389583 230746 160271 1500 1500 5666540 311228 5352726 2586 5383362 3365354 1720296 297712 285412 231863 50806 2743 15897290 15897290 27785803 24479925 2751429 554449 3109588 3109588 BANK FEES 12744911 12735085 8143 1683 STUDY AWAY EXPENSES 5177561 5177561 EQUIPMENT RENTAL 1151034 571505 555996 23533 PRINTING & MAILING 427310 181598 55299 190413 7524388 4684553 2593829 246006 340731004 267443816 65785344 7501844 214155406 188050712 41161987 33169957 940719 743064 300000 300000 5933630 5432719 473045 666196 7074477 5507745 984687456 412148593 550111141 572538863 964243000 1088705000 1946168727 1862718047 3730562132 3757832303 122833621 113797443 1193748 1122958 14530535 13325224 225618046 222529584 233211380 230979561 31895443 28379016 629282773 610133786 X 936125244 957066000 2165154115 2190632517 3101279359 3147698517 3730562132 3757832303 X 44838827 -8126285 9846616 X 0 1 X 1 1 1 X 35590693 86543194 68183815 60807794 45718423 296843919 35590693 86543194 68183815 60807794 45718423 296843919 15052666 281791253 23975225 19899290 9992901 14893756 24476756 93237928 11652667 9372721 5575733 9371692 9734250 45707063 435788910 852409902 0.64660 0.70710 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AUXILIARY ENTERPRISES - 2018 AMOUNT: $ 4,241,133. 2019 AMOUNT: $ 4,970,992. 2020 AMOUNT: $ 3,078,229. 2021 AMOUNT: $ 2,641,956. 2022 AMOUNT: $ 3,739,264. OTHER REVENUE - 2018 AMOUNT: $ 7,006,000. 2019 AMOUNT: $ 4,166,182. 2020 AMOUNT: $ 2,493,246. 2021 AMOUNT: $ 6,729,736. 2022 AMOUNT: $ 5,994,986. WELLESLEY COLLEGE CLUB - 2018 AMOUNT: $ 405,534. 2019 AMOUNT: $ 235,547. 2020 AMOUNT: $ 4,258. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 2846864931 43749570 108025943 53816843 55954050 2888869551 3236785461 23310440 -306875113 48331934 58023923 2846864931 2285397056 21401639 1026472781 44409376 52076639 3236785461 2173415000 28649118 176478722 48838336 44307448 2285397056 2105211700 25614153 137048791 46965425 47494219 2173415000 0.29740 0.70260 0.00000 0 0 36565222 36565222 886434788 386047799 500386989 16155805 10065016 6090789 45531641 16035778 29495863 572538863 PRIVATE EQUITY 1075658000 F REAL ASSETS 173111000 F ABSOLUTE RETURN 538752000 F MISCELLANEOUS OTHER 75197047 F 1862718047 GOVERNMENT LOAN ADVANCES -302963 ANNUITIES & UNITRUSTS PAYABLE 28681979 28379016 X 297263214 -8126285 9846616 1720331 295542883 12903714 76983234 89886948 385429831 250844056 0 250844056 12903714 76983234 89886948 340731004 PART III, LINE 1A: FINANCIAL STATEMENT FOOTNOTE REGARDING ART COLLECTION WELLESLEY COLLEGE DOES NOT REPORT AS REVENUE ANY GIFTS THAT ARE WORKS OF ART. IN ADDITION, THE COLLEGE DOES NOT CAPITALIZE WORKS OF ART AS ASSETS ON ITS BALANCE SHEET. THIS TREATMENT IS PERMITTED UNDER SFAS 116. THE COLLEGE'S AUDITED FINANCIAL STATEMENTS DO NOT CONTAIN A FOOTNOTE REGARDING WORKS OF ART, HISTORICAL TREASURE, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTION THE DAVIS MUSEUM AND CULTURAL CENTER HAS A PERMANENT COLLECTION OF APPROXIMATELY 17,000 OBJECTS DATING FROM ANCIENT TIMES TO PRESENT DAY. INCLUDED ARE PAINTINGS, SCULPTURES, DECORATIVE OBJECTS, AND WORKS ON PAPER REPRESENTING CULTURES AROUND THE WORLD. THE COLLECTION OF THE MUSEUM SERVES AS A VALUED TEACHING RESOURCE FOR STUDENTS AND FACULTY IN MULTIPLE DISCIPLINES. PROFESSORS FREQUENTLY ASSIGN STUDENTS TO SEE AND WRITE ABOUT PIECES BEING SHOWN IN THE MUSEUM; THE MUSEUM ALSO MAKES AVAILABLE WORKS FROM THE PERMANENT COLLECTION TO CLASSES MEETING IN THE MUSEUM. FUNDAMENTAL TO THE SPIRIT OF THESE EXERCISES IS THE STUDENTS' ENCOUNTERS WITH ORIGINAL WORKS OF ART. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE WELLESLEY COLLEGE ENDOWMENT PROVIDES CRITICAL FUNDING THAT SUPPORTS FINANCIAL AID AND FACULTY SALARIES, MAINTAINS AND EXPANDS FACILITIES, AND UNDERWRITES NEW INITIATIVES AND PROGRAMS. THE ENDOWMENT HAS GROWN TO PROVIDE APPROXIMATELY 40% OF OPERATING REVENUE. WELLESLEY COLLEGE'S STRONG AND PRUDENT FINANCIAL MANAGEMENT ENSURES THE PURCHASING POWER OF THE ENDOWMENT FOR GENERATIONS TO COME. THE TOP USES OF THE ENDOWMENT FOR FY2023 WERE FINANCIAL AID AND FACULTY SALARIES. PART X, LINE 2: THE COLLEGE HAS NO MATERIAL UNCERTAIN TAX PROVISIONS AS OF JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 3,133,266. MINIMUM PENSION LIABILITY 6,713,350. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXCLUDING PELL GRANTS 76,983,234. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXCLUDING PELL GRANTS 76,983,234. PART V, LINE 2 WELLESLEY COLLEGE HAS ADOPTED 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 SCHEDULE D, LINE 2, WELLESLEY COLLEGE HAS REPORTED ENDOWMENT FUNDS WITHOUT DONOR RESTRICTIONS AS BOARD DESIGNATED OR QUASI-ENDOWMENT AND ENDOWMENT FUNDS WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT, RESPECTIVELY. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL COLLEGE PUBLICATIONS, INCLUDING RECRUITMENT BROCHURES AND CATALOGS, COURSE DESCRIPTION DOCUMENTS, THE COLLEGE'S WEBSITE, AND FACULTY AND STUDENT HANDBOOKS, ETC. OUTLINE THE INSTITUTION'S NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 WELLESLEY COLLEGE PARTICIPATES IN VARIOUS STUDENT FINANCIAL AID PROGRAMS FROM THE U.S. DEPARTMENT OF EDUCATION, INCLUDING THE FOLLOWING PROGRAMS: PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, PERKINS LOANS, AND COLLEGE WORK-STUDY PROGRAMS. 1 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY AWAY TUITION 43350 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY AWAY TUITION 175521 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 6 PROGRAM SERVICES STUDY AWAY TUITION 2882033 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDY AWAY TUITION 15235 NORTH AMERICA PROGRAM SERVICES STUDY AWAY TUITION 47421 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES STUDY AWAY TUITION 12750 SOUTH AMERICA PROGRAM SERVICES STUDY AWAY TUITION 89032 SOUTH ASIA PROGRAM SERVICES STUDY AWAY TUITION 79797 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY AWAY TUITION 48927 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY AWAY PROGRAM 31348 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY AWAY PROGRAM 1470 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY AWAY PROGRAM 1859001 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDY AWAY PROGRAM 73265 NORTH AMERICA PROGRAM SERVICES STUDY AWAY PROGRAM 21324 SOUTH AMERICA PROGRAM SERVICES STUDY AWAY PROGRAM 105 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES INTERNSHIPS 32750 EAST ASIA AND THE PACIFIC PROGRAM SERVICES INTERNSHIPS 115573 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES INTERNSHIPS 275118 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES INTERNSHIPS 36500 NORTH AMERICA PROGRAM SERVICES INTERNSHIPS 18750 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES INTERNSHIPS 5000 SOUTH AMERICA PROGRAM SERVICES INTERNSHIPS 60350 SOUTH ASIA PROGRAM SERVICES INTERNSHIPS 24174 SUB-SAHARAN AFRICA PROGRAM SERVICES INTERNSHIPS 62450 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES FINANCIAL AID 266285 EAST ASIA AND THE PACIFIC PROGRAM SERVICES FINANCIAL AID 754457 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES FINANCIAL AID 579346 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES FINANCIAL AID 323114 NORTH AMERICA PROGRAM SERVICES FINANCIAL AID 793224 RUSSIA AND THE NEWLY INDEPENDENT STATES PROGRAM SERVICES FINANCIAL AID 642353 SOUTH AMERICA PROGRAM SERVICES FINANCIAL AID 856532 SOUTH ASIA PROGRAM SERVICES FINANCIAL AID 621574 SUB-SAHARAN AFRICA PROGRAM SERVICES FINANCIAL AID 1706831 EAST ASIA AND THE PACIFIC INVESTMENTS INVESTMENTS 221586991 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS INVESTMENTS 317684097 MIDDLE EAST AND NORTH AFRICA INVESTMENTS INVESTMENTS 98580793 NORTH AMERICA INVESTMENTS INVESTMENTS 25963441 1 6 0 0 1 6 3345139 673025143 676370282 FINANCIAL AID CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 3 266285 CR. TO ACCT. FINANCIAL AID EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 16 754457 CR. TO ACCT. FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 7 579346 CR. TO ACCT. FINANCIAL AID MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 4 323114 CR. TO ACCT. FINANCIAL AID NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 9 793224 CR. TO ACCT. FINANCIAL AID RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 8 642353 CR. TO ACCT. FINANCIAL AID SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 10 856532 CR. TO ACCT. FINANCIAL AID SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 8 621574 CR. TO ACCT. FINANCIAL AID SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 20 1706831 CR. TO ACCT. 1 0 1 1 1 1 PART I, LINE 2: MONITORING USE OF FUNDS THE COLLEGE AWARDS AID TO MEET 100% OF A STUDENT'S DEMONSTRATED NEED. ALL AID IS CREDITED TO THE STUDENT'S ACCOUNT. IF THE STUDENT WITHDRAWS FROM WELLESLEY, THE AID IS ADJUSTED ACCORDINGLY. PAYMENTS IN CONNECTION WITH A STUDY ABROAD PROGRAM ARE MADE WHILE THE STUDENT IS LIVING OUTSIDE THE UNITED STATES. HOWEVER, AT THE TIME THE PAYMENT IS MADE, THE STUDENT IS A RESIDENT OF THE UNITED STATES. PART III ACCOUNTING METHOD: 1 FINANCIAL AID 1293 70439518 PART I, LINE 2: MONITORING USE OF FUNDS THE COLLEGE AWARDS AID TO MEET 100% OF A STUDENT'S DEMONSTRATED NEED. ALL AID IS CREDITED TO THE STUDENT'S ACCOUNT. IF THE STUDENT WITHDRAWS FROM WELLESLEY, THE AID IS ADJUSTED ACCORDINGLY. FOR INTERNSHIPS, THE COLLEGE IS IN CONTACT WITH THE ORGANIZATIONS PROVIDING THE INTERNSHIP TO ENSURE THAT HIGH-QUALITY PROGRAMS ARE PROVIDED TO THE STUDENTS. X X X 1 1 X X X X X 1 0 0 0 0 1 0 1 0 DEBORAH F KUENSTNER CHIEF INVESTMENT OFFICER 652668 0 528728 0 3168 0 32025 0 29302 0 1245891 0 0 0 ROSE C CARPENTER MANAGING DIRECTOR TO DEPUTY CIO 490568 0 497447 0 480 0 32025 0 27809 0 1048329 0 0 0 RAY OQUENDO CHIEF OPERATING OFFICER 442850 0 477000 0 1987 0 32025 0 28674 0 982536 0 0 0 PAULA A JOHNSON PRESIDENT 671500 0 0 0 58775 0 32025 0 120971 0 883271 0 0 0 GREG ROZOLSKY INVESTMENT DIRECTOR 338065 0 305419 0 93 0 32025 0 11996 0 687598 0 0 0 MATTHEW VEILLEUX INVESTMENT DIRECTOR 272009 0 271002 0 1276 0 31650 0 8670 0 584607 0 0 0 ANDREW SHENNAN PROVOST AND DEAN OF COLLEGE 340702 0 30000 0 2364 0 31789 0 99264 0 504119 0 0 0 PIPER ORTON VP FOR FIN. & ADMIN. & TREAS. 402443 0 0 0 5433 0 32025 0 10600 0 450501 0 0 0 KAREN PETRULAKIS GENERAL COUNSEL 373185 0 0 0 12000 0 32025 0 28412 0 445622 0 0 0 SHEILAH HORTON DEAN OF STUDENTS 274417 0 0 0 1837 0 29160 0 90468 0 395882 0 0 0 MARY CASEY VP FOR DEVELOPMENT & PUB. AFF. 89825 0 0 0 213110 0 12911 0 7476 0 323322 0 0 0 MEGAN NUNEZ DEAN OF FACULTY AFFAIRS 240388 0 0 0 355 0 26056 0 22421 0 289220 0 0 0 MICHAEL JEFFRIES DEAN OF ACADEMIC AFF. 232262 0 0 0 229 0 23666 0 22399 0 278556 0 0 0 ANN VELENCHIK FORMER DEAN OF ACADEMIC AFF. 186992 0 0 0 16148 0 22024 0 22246 0 247410 0 0 0 JOY ST JOHN DEAN-ADMISS. & STU. FIN. SVCS 96142 0 0 0 31410 0 13899 0 12159 0 153610 0 0 0 PART I, LINE 1A BENEFITS PROVIDED WELLESLEY COLLEGE'S POLICY IS THAT THE COLLEGE WILL NOT PAY FOR OR REIMBURSE THE TRAVEL, MEALS, OR EXPENSES OF THE SPOUSE/PARTNER OF AN EMPLOYEE WITH THE EXCEPTION OF THE PRESIDENT. SPECIFICALLY, WHILE PERFORMING HER OFFICIAL DUTIES IN THE AREA OF DEVELOPMENT, ALUMNAE RELATIONS, AND OTHER BUSINESS OF THE COLLEGE, THE PRESIDENT MAY BE ACCOMPANIED BY HER SPOUSE, WHO IS EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF ALL TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE. THE COLLEGE PROVIDES ON-CAMPUS HOUSING TO CERTAIN EMPLOYEES AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE AND BENEFIT OF THE COLLEGE. THE PRESIDENT, PROVOST AND DEAN OF COLLEGE, AND VICE PRESIDENT AND DEAN OF STUDENTS EACH RECEIVE HOUSING. THE AMOUNT OF THIS HOUSING IS NOT TAXABLE AND IS NOT INCLUDED IN THEIR W-2. THE HOUSING REQUIREMENT AS A CONDITION OF EMPLOYMENT IS DOCUMENTED IN THE EMPLOYEE'S FILES. THE COLLEGE WILL NOT PAY FOR PERSONAL SERVICES WITH THE EXCEPTION OF THE PRESIDENT'S HOUSE. SINCE THE PRESIDENT'S HOUSE IS USED EXTENSIVELY FOR COLLEGE BUSINESS, HOUSEKEEPING SERVICES ARE PROVIDED FOR THE GENERAL SPACE. A CHEF WILL BE AT THE PRESIDENT'S HOUSE TO PROVIDE MEALS FOR BUSINESS PURPOSE FUNCTIONS. PERSONAL SERVICES PROVIDED TO EMPLOYEES AREAPPROPRIATELY REPORTED AS TAXABLE COMPENSATION. PART I, LINE 4A DURING THE TAX YEAR, MARY CASEY RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $181,938, WHICH IS REPORTED ON PART II, COLUMN B(III). PART I, LINE 6 PAYMENTS CONTINGENT OF NET EARNINGS EMPLOYEES IN THE INVESTMENT OFFICE HAVE AN INCENTIVE PERFORMANCE-RELATED BONUS SYSTEM BASED ON THE INVESTMENT PERFORMANCE OF THE WELLESLEY COLLEGE ENDOWMENT. TOTAL COMPENSATION IS REVIEWED IN COMPARISON TO MARKET DATA PROVIDED BY INDEPENDENT THIRD PARTIES. PART I, LINE 7 NONFIXED PAYMENTS EMPLOYEES OTHER THAN INVESTMENT OFFICE EMPLOYEES ARE ABLE TO RECEIVE MERIT-BASED BONUS COMPENSATION. A MHEFA 2008 SERIES I 042103637 57586CP25 2008-01-28 57385000 CONSTRUCTION - REFINANCING 1999 ISSUES 0 0 0 B MDEFA 2018 SERIES L 042103637 57584YES4 2018-03-01 105663450 CONSTRUCTION - REFINANCING 1999 ISSUES 0 0 0 C MDEFA 2022 SERIES M 042103637 57584Y2L2 2022-04-01 50862192 CONSTRUCTION - REFINANCING 2012 ISSUE 0 0 0 A 57385000 530057 25447000 31407943 2010 0 1 1 1 B 6890000 96500000 832680 90842320 4825000 2020 1 0 1 1 C 44960000 491488 44398172 1 0 1 1 A 0 0 1 1 1 1 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 A 0 1 0 1 1 1 JP MORGAN 31.440000000000 0 0 0 0 1 B 0 1 0 1 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, LINE 3: COLUMN B MHEFA 2008 SERIES L THE PROCEEDS OF THE BONDS ARE USED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE SERIES E BONDS. PRINCIPAL AMOUNT OF THE BONDS $ 96,500,000 NET ORIGINAL ISSUE PREMIUM $ 9,163,450 TOTAL $105,663,450 COLUMN C MHEFA 2008 SERIES M THE PROCEEDS OF THE BONDS ARE USED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE SERIES J BONDS. PRINCIPAL AMOUNT OF THE BONDS $ 44,960,000 NET ORIGINAL ISSUE PREMIUM $ 5,902,192 TOTAL $ 50,682,192 SCHEDULE K, PART III, LINES 3C AND 3D: COLUMN A - MHEFA 2008 SERIES I THERE ARE RESEARCH AGREEMENTS THAT INVOLVE THE USE OF BOND FINANCED SPACE WHICH THE COLLEGE ROUTINELY ENGAGES BOND COUNSEL TO REVIEW WHETHER ANY RESEARCH AGREEMENTS RESULT IN PRIVATE BUSINESS USE. BASED ON REVIEW, NO KNOWN PRIVATE BUSINESS USE IS EVIDENT. SCHEDULE K, PART III, LINE 9: UNDER REGULATION SECTIONS 1.141-12 AND 1.145-2, WELLESLEY COLLEGE HAS ESTABLISHED WRITTEN PROCEDURES AS OF OCTOBER 3, 2014. SCHEDULE K, PART IV, LINE 2: COLUMN A - MHEFA 2008 SERIES I THE MHEFA 2008 SERIES I BOND ISSUE REBATE CALCULATION WAS PERFORMED FEBRUARY 3, 2023. COLUMN B - MDFA 2018 SERIES L THE FIRST REBATE CALCULATION FOR THE MDFA SERIES L BOND WAS PERFORMED AUGUST 2, 2022. COLUMN B - MDFA 2022 SERIES M THE MDFA SERIES M BOND WAS ISSUED IN FEBRUARY 2022. THE REBATE IS NOT DUE YET. ANDREW SHENNAN OFFICER MORTGAGE X 300000 300000 0 1 1 300000 X 3 0 FMV/$0 FOR TRACKING X 0 FMV/$0 FOR TRACKING X 1 1750000 SELLING PRICE/FMV X 4 0 FMV/$0 FOR TRACKING X OTHER - PIANO 1 0 FMV/$0 FOR TRACKING 0 0 1 1 PART I, COLUMN (B): WELLESLEY COLLEGE REPORTS THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). PART I, LINE 32B: USE OF THIRD PARTIES WELLESLEY COLLEGE USES A SECURITIES BROKER TO SELL ALL DONATED PUBLICLY TRADED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT FAIR MARKET VALUE. SCHEDULE M, PART I, LINE 33: ACCOUNTING FOR WORKS OF ART WELLESLEY COLLEGE DOES NOT REPORT AS REVENUE ANY GIFTS THAT ARE WORKS OF ART. IN ADDITION, THE COLLEGE DOES NOT CAPITALIZE WORKS OF ART AS ASSETS IN ITS BALANCE SHEET. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW FORM 990 WAS PREPARED BY AN OUTSIDE PUBLIC ACCOUNTING FIRM AND REVIEWED BY THE COLLEGE'S FINANCE OFFICE. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS FORM 990 AND ALL REQUIRED SCHEDULES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990 AND ALL REQUIRED SCHEDULES ARE ALSO DISTRIBUTED TO THE FULL BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY THE COLLEGE HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF DONOR INFORMATION ON SCHEDULE B. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE COLLEGE HAS CHOSEN NOT TO DISCLOSE THE IDENTITIES AND ADDRESSES OF ITS DONORS. AS SUCH, WE ARE REQUIRED TO ANSWER THE QUESTION ON LINE 11A "NO" EVEN THOUGH THE BOARD RECEIVES ALL OF FORM 990 EXCEPT FOR DONORS' NAMES AND ADDRESSES. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY CONFLICT OF INTEREST POLICIES ARE IN PLACE FOR TRUSTEES, OFFICERS, EXTERNAL INVESTMENT COMMITTEE MEMBERS, AND ALL EMPLOYEES. TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE - AT LEAST AS OFTEN AS ANNUALLY AND WHENEVER A POTENTIAL CONFLICT ISSUE ARISES - FINANCIAL OR PERSONAL INTERESTS WHICH MAY GIVE RISE TO CONFLICTS. THE CLERK OF THE BOARD OF TRUSTEES PROVIDES AN ANNUAL REPORT TO THE TRUSTEES SUMMARIZING THE CONFLICT OR POTENTIAL CONFLICTS ISSUES. AT LEAST ANNUALLY, THE TRUSTEES REVIEW THE COLLEGE'S RELATIONSHIPS WITH SIGNIFICANT VENDORS OR SERVICE PROVIDERS SERVING THE COLLEGE TO ASSURE THAT SUCH RELATIONSHIPS ARE IN THE BEST INTEREST OF THE COLLEGE AND ARE OTHERWISE CONSISTENT WITH THE TERMS OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL THE COMPENSATION OF THE PRESIDENT AND OTHER OFFICERS OF THE COLLEGE IS DETERMINED BY THE TALENT AND COMPENSATION COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF TRUSTEES. THE TALENT AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES UTILIZES INDEPENDENT EXTERNAL CONSULTANTS TO ASSIST WITH BOTH THE REVIEW OF COMPENSATION GUIDELINES AND THE GATHERING OF COMPARABILITY DATA IN DETERMINING THE REASONABLENESS OF COMPENSATION AND COMPLIANCE WITH THE PROCEDURES DESCRIBED IN TREASURY REGULATION SECTION 53.4958-6, INCLUDING CONTEMPERANEOUS DOCUMENTATION OF COMPENSATION DECISIONS. KEY EMPLOYEES ARE COMPENSATED BASED UPON THE GUIDELINES THE COLLEGE HAS FOR ADMINISTRATIVE AND FACULTY EMPLOYEES. THESE GUIDELINES INCLUDE REVIEW OF THE MARKET BY LOOKING AT SALARIES FOR COMPARABLE POSITIONS AS WELL AS A MERIT PROGRAM BASED ON PERFORMANCE. COMPENSATION DECISIONS ARE MADE BY PERSONS WHO ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM THE COMPENSATION IS BEING DETERMINED. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS A COPY OF THE BUSINESS CONDUCT POLICY WHICH INCLUDES THE CONFLICT OF INTEREST POLICY IS GIVEN TO ALL NEW EMPLOYEES UPON HIRE. BOTH THE BUSINESS CONDUCT POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEBSITE. THE COLLEGE'S ORGANIZING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 3,133,266. MINIMUM PENSION LIABILITY 6,713,350. WELLESLEY COLLEGE FOUNDATION UK LIMITED 19 NORCOTT ROAD LONDON UK N16 7EJ 981196154 EDUCATION UK -383 16479 WELLESLEY POOLED INCOME FUNDS (5) SUPPORT MA T 1 CHARITABLE REMAINDER TRUSTS (2) SUPPORT MA T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 POOLED INCOME FUNDS (5) S 130435 ACCRUAL CHARITABLE REMAINDER TRUSTS (2) S 213055 ACCRUAL