2025-05-12T12:28:14-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2023-07-01 042103558 TRUSTEES OF THE COLLEGE OF THE HOLY CROSS TRUS 5087933497 ONE COLLEGE STREET WORCESTER MA 016102395 DOROTHY A GAGNON SENIOR VP AND TREASURER 5087933497 2025-05-12 1 0 ERIN COUTURE P01390592 6177237900 2023 2025-03-06 01:10:19Z COLLEGE OF THE HOLY CROSS VINCENT ROUGEAU ONE COLLEGE STREET WORCESTER MA 016102395 538339993 0 X WWW.HOLYCROSS.EDU X 1843 MA COLLEGE OF THE HOLY CROSS IS A PRIVATE, JESUIT, CATHOLIC, LIBERAL ARTS COLLEGE (SEE SCHEDULE O). 37 35 3281 2454 1049562 0 37515227 30798657 240829325 253743145 29595607 65879566 282232 337754 308222391 350759122 74712627 76466660 0 0 131835199 138253069 38596 61208 9056786 110642634 106841524 317229056 321622461 -9006665 29136661 1609954174 1667203048 287611277 267784408 1322342897 1399418640 X SEE SCHEDULE O 0 0 275737816 76466660 251681509 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. 1008133 0 1012074 BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY, AND BIOLOGY, FUNDED BY PRIVATE AND PUBLIC GRANTS. 276745949 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 4826 0 1 3281 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 37 35 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 709915 0 108785 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 CATHERINE C BURKE TRUSTEE 3.00 0.00 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 STANLEY E GRAYSON TRUSTEE 3.00 0.00 X 0 0 0 ROBERT A HARRINGTON TRUSTEE 3.00 0.00 X 0 0 0 ANNE F HARRIS TRUSTEE 3.00 0.00 X 0 0 0 CAROL DONOVAN JUEL 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 STEPHANIE COLEMAN LINNARTZ TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN A LOVELETTE TRUSTEE 3.00 0.00 X 0 0 0 SCHONE L MALLIET 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 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 REV PETER NGUYEN SJ TRUSTEE (THRU 12/2023) 3.00 0.00 X 0 0 0 DONNA MURPHY O'BRIEN TRUSTEE 3.00 0.00 X 0 0 0 PETER W OLIVER TRUSTEE 3.00 0.00 X 0 0 0 ERIN B ROBERT TRUSTEE 3.00 0.00 X 0 0 0 SR BARBARA J ROGERS RSCJ TRUSTEE 3.00 0.00 X 0 0 0 DAVID P RYAN 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 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 265778 0 56909 DOROTHY A GAGNON SVP OF ADMIN & FINANCE/TREASURER 45.00 0.00 X 508682 0 76098 HEATHER HAYES SENIOR VP & CHIEF OF STAFF 45.00 0.00 X 333227 0 30048 MELANIE MITCHELL-PUCHULU SR EXEC ASST FOR PRES. & ASST SEC. 45.00 0.00 X 94855 0 46318 DANIEL RICCIARDI AVP AND ASST TREASURER 45.00 0.00 X 185261 0 61741 MICHELE MURRAY SVP OF STUDENT AFFAIRS/DOS 45.00 0.00 X 271534 0 61485 ELLIOTT VISCONSI PROVOST & DEAN OF THE COLLEGE 45.00 0.00 X 229306 0 32141 ELIZABETH SMALL VP, GENERAL COUNSEL 45.00 0.00 X 325312 0 119412 PREDRAG CICOVACKI PROFESSOR (THRU 09/2023) 45.00 0.00 X 412745 0 23648 KOLLEEN RASK PROFESSOR (THRU 09/2023) 45.00 0.00 X 415935 0 26202 ROBERT CHESNEY HEAD FOOTBALL COACH (THRU 12/2023) 45.00 0.00 X 365435 0 69152 MARGARET FREIJE PROFESSOR 45.00 0.00 X 308147 0 62891 TRACY BARLOK FORMER VP FOR ADVANCEMENT 45.00 0.00 X 167292 0 0 4593424 0 774830 299 1 1 0 STRATEGIC INVESTMENT GROUP 1001 19TH ST NORTH 17TH FL ARLINGTON VA 22209 INVESTMENT MANAGEMENT 2344155 SILCHESTER INTERNATIONAL INVESTORS INC 780 3RD AVE 42ND FL NEW YORK NY 10017 INVESTMENT MANAGEMENT 481531 MOTH DESIGN INC 450 HARRISON AVE 303 BOSTON MA 02118 WEBSITE DESIGN 233440 SHAWMUT ADVERTISING INC 310 JUBILEE DRIVE PEABODY MA 01960 ADVERTISING 209874 CANTINA CONSULTING INC PO BOX 960926 BOSTON MA 02196 CONSULTING 203056 23 69024 1933737 28795896 1186325 30798657 TUITION AND FEES 611600 195568698 195568698 ROOM AND BOARD 611710 46431784 46431784 SALES OF AUXILIARY SERVICES 722320 5275454 4225892 1049562 ATHLETICS 611710 4278076 4278076 ALL OTHER 611710 2189133 2189133 253743145 11201334 11201334 321500 0 321500 321500 321500 242199268 187521036 54678232 54678232 54678232 76089 69024 59835 16254 16254 350759122 252693583 1049562 66217320 72708427 72708427 3758233 3758233 3349498 334077 3015421 176021 176021 100784831 86404828 10189896 4190107 8477607 7135342 989298 352967 18076902 14981505 2278304 817093 7388210 6075996 1013440 298774 428924 8705 420219 291151 291151 61208 61208 3966700 3966700 5688439 3499550 1598245 590644 416752 179367 217248 20137 8682063 6284668 1516625 880770 6003574 3087810 2442116 473648 13351277 12185165 1021339 144773 5565853 4721110 611053 233690 992414 810501 152668 29245 9380876 8674343 706533 23726140 21289725 2436415 2920997 208733 2498351 213913 OTHER COSTS 9869749 9687477 129332 52940 FOOD FOR DINING OPER. 6924766 5902517 325372 696877 STUDY ABROAD EXPENSES 6597419 6597419 LIBRARY COLLECTION 2034430 2034430 321622461 276745949 35819726 9056786 6361 90 68971038 61876293 28168484 22877543 801661 1529074 9676788 13318165 665297 653119 4188577 6058698 824575688 387975400 439808410 436600288 130300456 126411731 920011491 990119953 0 0 7355611 7758094 1609954174 1667203048 37244282 32911013 5311667 2752923 104707679 96264142 1131156 1027261 131348896 128489640 7867597 6339429 287611277 267784408 X 687712481 726077374 634630416 673341266 1322342897 1399418640 1609954174 1667203048 X 29136661 42483727 5455355 X 0 1 X 1 1 1 X 44461765 44590350 48421547 37515227 30798657 205787546 44461765 44590350 48421547 37515227 30798657 205787546 25083734 180703812 4113061 5231115 966194 6630028 11522834 28463232 1090014 1090014 44220 155169 60946 76089 336424 235677216 1108981050 0.76670 0.78280 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING ACTIVITIES - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 44,220. 2021 AMOUNT: $ 155,169. 2022 AMOUNT: $ 60,946. 2023 AMOUNT: $ 76,089. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1500 1500 0 SCHEDULE C, PART II-B THE COLLEGE PAID MEMBERSHIP DUES OF $157,926 DURING THE FISCAL YEAR TO CERTAIN ORGANIZATIONS WHICH MAY LOBBY ON ITS BEHALF. THE COLLEGE RECEIVED INFORMATION FROM ONE ASSOCIATION THAT DUES OF $1,500 WERE ATTRIBUTABLE TO LOBBYING EXPENDITURES. X 1 1 0 15500 2051165 X X X 0 0 1 X 1043310791 8440412 104128508 13573897 29453982 3587292 1109264540 992626922 18098920 77267013 12936629 27443838 4301597 1043310791 1043289368 16108656 -22279265 10342556 24719674 9429607 992626922 760298642 32439834 289366830 10342556 24282507 4190875 1043289368 785851880 4615665 4823833 9295512 21201895 4495329 760298642 0.41750 0.25950 0.32300 0 0 8410639 8410639 663844992 280037373 383807619 0 89323847 70270818 19053029 62996210 37667209 25329001 436600288 PRIVATE EQUITY 335208074 F GLOBAL EQUITY 349295457 F HEDGED FUND ABS. RETURN 244932311 F REAL ASSETS 33298649 F FIXED INCOME 23747686 F OTHER INVESTMENTS 3637776 F 990119953 ANNUITY OBLIGATIONS 2840940 INTEREST RATE SWAP 1882148 US GOVT REFUNDABLE ADVANCES 1616341 6339429 X 315369682 42483727 -73966302 -31482575 346852257 3966700 -59835 3906865 350759122 238293941 -2837657 -2837657 241131598 3966700 76524163 80490863 321622461 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 VARIETY 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, 2024 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 1,000 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 682,819. POST RETIREMENT BENEFIT CHANGES 4,772,536. INTRA-DEPARTMENTAL REVENUES 2,858,670. FINANCIAL AID RECLASS -76,466,660. BAD DEBT EXPENSE -5,962,019. AMORTIZATION OF ANNUITY OBLIGATIONS 205,857. NET MISCELLANEOUS -57,505. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -59,835. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTRA-DEPARTMENTAL REVENUES 2,858,670. FUNDRAISING EXPENSE 59,835. BAD DEBT EXPENSE -5,962,019. AMORTIZATION OF ANNUITY OBLIGATIONS 205,857. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 76,466,660. NET MISCELLANEOUS 57,503. 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. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 351217 EUROPE (INCLUDING ICELAND & GREENLAND) 0 56 PROGRAM SERVICES ATTEND COLLEGE ABROAD 4728462 SOUTH AMERICA 0 2 PROGRAM SERVICES ATTEND COLLEGE ABROAD 183395 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATTEND COLLEGE ABROAD 1111470 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 81170 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 425665 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 2901942 SOUTH AMERICA 0 0 GRANTMAKING 299556 SOUTH ASIA 0 0 GRANTMAKING 1900 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 48000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 242787849 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 20285212 0 58 0 0 0 58 10082877 263122961 273205838 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 12 81170 ACCT CREDIT 0 SCHOLARSHIP EAST ASIA AND THE PACIFIC 22 425665 ACCT CREDIT 0 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 169 2901942 ACCT CREDIT 0 SCHOLARSHIP SOUTH AMERICA 10 299556 ACCT CREDIT 0 SCHOLARSHIP SOUTH ASIA 1 1900 ACCT CREDIT 0 SCHOLARSHIP SUB-SAHARAN AFRICA 4 48000 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 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 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 ASHLEY BUDD DIGITAL STRATEGY AND DESIGN 11 ST RAYMOND CT SARATOGA SPRINGS NY 12866 STRATEGY AND DESIGN 0 0 27350 -27350 PLANNED GIVING MARKETING LLC 2115 MAGNOLIA LANE LAFAYETTE HILL PA 19444 STRATEGY AND DESIGN 0 0 21858 -21858 ILISA HUROWITZ 8 APPLETON TERRACE CAMBRIDGE MA 02138 STRATEGY 0 0 12000 -12000 61208 -61208 CA MA NH FRIENDS OF CRUSADER FOOTBALL 71100 39040 32060 18000 17258 7931 HC BANGLE 43200 11665 31535 2642 2 30813 18319 12494 200 12566 1238 145113 69024 76089 18200 29824 11811 59835 16254 1 SCHOLARSHIP 1838 72708427 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 622474 0 0 0 87441 0 67729 0 41056 0 818700 0 0 0 DOROTHY A GAGNON SVP OF ADMIN & FINANCE/TREASURER 479994 0 6225 0 22463 0 36396 0 39702 0 584780 0 0 0 ELIZABETH SMALL VP, GENERAL COUNSEL 317846 0 4395 0 3071 0 32636 0 86776 0 444724 0 0 0 KOLLEEN RASK PROFESSOR (THRU 09/2023) 100587 0 2250 0 313098 0 10396 0 15806 0 442137 0 0 0 PREDRAG CICOVACKI PROFESSOR (THRU 09/2023) 102199 0 2200 0 308346 0 10238 0 13410 0 436393 0 0 0 ROBERT CHESNEY HEAD FOOTBALL COACH (THRU 12/2023) 296015 0 38512 0 30908 0 33784 0 35368 0 434587 0 0 0 MARGARET FREIJE PROFESSOR 296313 0 4800 0 7034 0 33756 0 29135 0 371038 0 0 0 HEATHER HAYES SENIOR VP & CHIEF OF STAFF 251979 0 3825 0 77423 0 29599 0 449 0 363275 0 0 0 MICHELE MURRAY SVP OF STUDENT AFFAIRS/DOS 266114 0 3750 0 1670 0 29682 0 31803 0 333019 0 0 0 ELIZABETH DIONNE AVP FOR FINANCE & ASST TREASURER 258696 0 6025 0 1057 0 28296 0 28613 0 322687 0 0 0 ELLIOTT VISCONSI PROVOST & DEAN OF THE COLLEGE 161510 0 0 0 67796 0 16596 0 15545 0 261447 0 0 0 DANIEL RICCIARDI AVP AND ASST TREASURER 181673 0 2835 0 753 0 20556 0 41185 0 247002 0 0 0 TRACY BARLOK FORMER VP FOR ADVANCEMENT 0 0 0 0 167292 0 0 0 0 0 167292 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: THE PRESIDENT RECEIVED A HOUSING ALLOWANCE IN CALENDAR YEAR 2023. THIS AMOUNT IS INCLUDE ON SCHEDULE J, PART II, COLUMN B(III). SOCIAL DUES: ONE OFFICER HAS MEMBERSHIP IN SOCIAL CLUBS FOR BUSINESS PURPOSES. THE PAYMENT OF DUES IS CONSIDERED A BUSINESS EXPENSE. 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 2023. 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. PREDRAG CICOVACKI RETIRED IN SEPTEMBER 2023 AND RECEIVED $307,140 IN OTHER REPORTABLE COMPENSATION AS PART OF THE COLLEGE'S EARLY RETIREMENT PROGRAM. KOLLEEN RASK RETIRED IN SEPTEMBER 2023 AND RECEIVED $311,872 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 2023 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 2018A 043431814 57584YFT1 2018-06-07 24144512 REFUNDING 2008B ISSUE 0 0 0 A 17315000 45340000 181594 158406 45000000 1 0 1 1 B 5820000 42545003 476785 30004560 12063658 2018 0 1 1 1 C 12500000 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 A 1 B 1 C 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 2018A WAS USED TO REFUND THE 2008B BOND ISSUE. KATHRYN HAUVER OFFICER FAMILY 49047 EMPLOYMENT 0 JEFFREY OLIVER TRUSTEE FAMILY 126974 EMPLOYMENT 0 SCHEDULE L, PART IV, LINE 2: KATHRYN HAUVER, AN EMPLOYEE OF THE COLLEGE IS RELATED TO AN OFFICER AND RECEIVED COMPENSATION AND BENEFITS FOR HER SERVICES IN THE ORDINARY COURSE OF BUSINESS TOTALING $49,047 DURING FISCAL YEAR 2024. JEFFREY OLIVER, AN EMPLOYEE OF THE COLLEGE IS RELATED TO A BOARD MEMBER AND RECEIVED COMPENSATION AND BENEFITS FOR HIS SERVICES IN THE ORDINARY COURSE OF BUSINESS TOTALING $126,974 DURING FISCAL YEAR 2024. X 2 15500 FMV X 104 1170825 COST 1 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE TO THE COLLEGE. FORM 990, PART I, LINE 1 DEDICATED TO THE PURSUIT OF EXCELLENCE IN TEACHING, LEARNING, SERVICE OF FAITH, AND PROMOTION OF JUSTICE. FORM 990, PART III, LINE 1 TO 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. 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 2023 (FISCAL 2024) WAS APPROXIMATELY 3,200 INCLUDING APPROXIMATELY 830 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, 2024 INCLUDED; HELEN W. BOUCHER, M.D., EMMETT J. DALY, REV. C. KEVIN GILLESPIE, S.J., CHERYL A. MARTIN, JAMES F. MOONEY III, 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 2024. 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 682,819. POST RETIREMENT BENEFIT CHANGES 4,772,536. 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