2026-05-12T10:37:06-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2024-07-01 042225850 COLLEGE OF OUR LADY OF THE ELMS COLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 BRETT CARROLL VP OF FINANCE & ADMINISTRATION 4135942761 2026-05-11 1 0 LAURA J KENNEY P00202198 6177170831 2026-04-28 2024 2025-03-06 01:10:19Z HARRY DUMAY 291 SPRINGFIELD STREET CHICOPEE MA 01013 49318491 0 X WWW.ELMS.EDU X 1928 MA TO EDUCATE A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. 34 31 660 70 0 0 6389626 3163279 42481803 40501650 1006885 1258138 596774 587051 50475088 45510118 18949852 18296348 0 0 19521660 19066436 17988 0 847360 11160374 12045178 49649874 49407962 825214 -3897844 82947217 81892976 18517573 19035948 64429644 62857028 X THE COLLEGE OF OUR LADY OF THE ELMS, A CATHOLIC COLLEGE, EDUCATES A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY. COMBINING A LIBERAL ARTS EDUCATION WITH PROFESSIONAL STUDIES, ELMS COLLEGE EMPOWERS STUDENTS TO EFFECT POSITIVE CHANGES IN THE COMMUNITY AND IN THE WORLD. AFFIRMING THE FOUNDING TRADITION OF THE SISTERS OF ST. JOSEPH, ELMS COLLEGE CHALLENGES STUDENTS TO EMBRACE CHANGE WITHOUT COMPROMISING PRINCIPLE, TO RESPOND CREATIVELY TO THE DEMANDS OF THEIR CHOSEN CAREERS, AND TO ADVOCATE FOR PEOPLE IN NEED. ELMS COLLEGE IS A COMMUNITY ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, AND RESPONSIVE TO CIVIC AND SOCIAL OBLIGATIONS. 0 0 35990263 18296348 37568859 THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY AND HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. DURING THE 2024/2025 SCHOOL YEAR, WE SERVED 1,633 FULL AND PART TIME STUDENTS. 1445635 2932791 AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. DURING THE YEAR 2,103 PEOPLE WERE SERVED. 37435898 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 1 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 1 1 0 0 1 150 0 1 660 1 0 0 0 0 0 0 0 0 0 0 0 0 X 34 31 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X BRETT CARROLL 4135942761 291 SPRINGFIELD STREET CHICOPEE MA 01013 PAUL M STELZER CHAIR OF BOARD 2.00 0.00 X X 0 0 0 KATHLEEN M KANE VICE CHAIR OF BOARD 2.00 0.00 X X 0 0 0 BETH E ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 KATHLEEN L BERNARDO TRUSTEE 2.00 0.00 X 0 0 0 SR JEAN R BOSTLEY TRUSTEE 2.00 0.00 X 0 0 0 PASCALE DESIR TRUSTEE 2.00 0.00 X 0 0 0 B JOHN DILL TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH G DINEEN TRUSTEE 2.00 0.00 X 0 0 0 DENNIS DUQUETTE TRUSTEE 2.00 0.00 X 0 0 0 LAWRENCE F EAGAN TRUSTEE 2.00 0.00 X 0 0 0 MARK M FULCO TRUSTEE 2.00 0.00 X 0 0 0 LINDSEY M GAMBLE TRUSTEE 2.00 0.00 X 0 0 0 MELISSA R GILLIS TRUSTEE 2.00 0.00 X 0 0 0 FAWWAZ HABBAL TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN FERRITER HAGAN TRUSTEE 2.00 0.00 X 0 0 0 PETER J HARRINGTON TRUSTEE 2.00 0.00 X 0 0 0 REGINA NOONAN HITCHERY TRUSTEE 2.00 0.00 X 0 0 0 CAROLYN JACOBS TRUSTEE 2.00 0.00 X 0 0 0 PAUL MARCHESE TRUSTEE 2.00 0.10 X 0 0 0 LYDIA MARTINEZ-ALVAREZ TRUSTEE 2.00 0.00 X 0 0 0 MARK O'CONNELL TRUSTEE 2.00 0.00 X 0 0 0 SR CATHERINE ORMOND TRUSTEE 2.00 0.00 X 0 0 0 FRANK ROBINSON TRUSTEE 2.00 0.00 X 0 0 0 MARTHA R ROSS TRUSTEE 2.00 0.00 X 0 0 0 PEDRO SANCHEZ JR TRUSTEE 2.00 0.00 X 0 0 0 SR ELEANOR M SPRING TRUSTEE 2.00 0.00 X 0 0 0 CHERYL STANLEY TRUSTEE 2.00 0.00 X 0 0 0 SR BETSY SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 EILEEN O'LEARY SULLIVAN TRUSTEE 2.00 0.00 X 0 0 0 RICHARD K SULLIVAN JR TRUSTEE 2.00 0.00 X 0 0 0 SR JANE THOMAS TRUSTEE 2.00 0.00 X 0 0 0 ASHLEY VANASSE TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL K VANN TRUSTEE 2.00 0.00 X 0 0 0 LISA WILLS TRUSTEE 2.00 0.00 X 0 0 0 BRYANT MORGAN 324 TO 1024 INTERIM VP FIN & ADMIN/TREASURER 35.00 0.10 X 0 0 0 HARRY DUMAY PRESIDENT 35.00 0.10 X 413818 0 29946 BEVIN PETERS CLERK/EXEC. ASST. TO PRES. 35.00 0.00 X 65475 0 10474 BRETT CARROLL AS OF 1024 VP OF FIN & ADMIN/ TREASURER 35.00 0.10 X 46519 0 1396 JOYCE HAMPTON VP OF ACADEMIC AFFAIRS 35.00 0.10 X 161116 0 11239 DEANA NUNES ASST CLINICAL PROFESSOR OF NURSING 35.00 0.00 X 153572 0 17569 AMANDA GARCIA DIRECTOR, MBA PROGRAM 35.00 0.00 X 171458 0 25449 PETER DEPERGOLA ASC PROF BIOETHICS & MED HUMANITIES 35.00 0.00 X 159272 0 3278 JANET WILLIAMS PROFESSOR OF BIOLOGY 35.00 0.00 X 160835 0 4395 JULIE BECK DEAN OF NURSING 35.00 0.00 X 154496 0 18392 1486561 0 122138 26 0 1 0 ELIOR INC ALADDIN FOOD MANAGEMENT SERV 4920 WESTWAY PARK BLVD STE 150 HOUSTON TX 77041 FOOD SERVICES 1140867 KEITER CORPORATION 1 INTERSTATE DRIVE WEST SPRINGFIELD MA 01089 CONSTRUCTION SERVICES 927271 TJ CONWAY COMPANY 26 PROGRESS AVENUE SPRINGFIELD MA 01101 MECHANICAL CONTRACTOR 682263 ROBERT FERRILLI LLC 4 KINGS HIGHWAY EAST HADDONFIELD NJ 08033 IT CONSULTING SERVICES 243875 ASCEND LEARNING HOLDINGS LLC 11161 OVERBROOK ROAD LEAWOOD KS 66211 SOFTWARE PROVIDER 229700 18 92000 298732 2772547 19067 3163279 TUITION AND FEES 611310 37568859 37568859 ROOM, BOARD & AUXILIAR 611310 2932791 2932791 40501650 1137132 1137132 139467 0 139467 139467 139467 3920792 3799786 121006 121006 121006 0 92000 8587 -8587 -8587 OTHER INCOME 611310 456171 456171 456171 45510118 40501650 0 1845189 31200 31200 18067944 18067944 197204 197204 961934 329573 494654 137707 143841 138068 5773 15032611 11509181 3052219 471211 309444 233833 61973 13638 1472169 533144 900286 38739 1146437 845928 267061 33448 59025 59025 160380 160380 52081 52081 1610070 447037 1163033 318478 21608 296870 896244 785904 75611 34729 545776 79319 465802 655 1024174 158018 866156 238068 226018 11956 94 540374 350543 174318 15513 492794 298779 182663 11352 2672792 1620501 990720 61571 481300 481300 FOOD SERVICES 1231631 1231631 INSTITUTIONAL SUPPORT 769594 33809 735785 EQUIPMENT RENTAL & MAIN 622093 87696 507348 27049 330304 208960 119690 1654 49407962 37435898 11124704 847360 517471 1078908 11349175 8167522 3313975 1931270 3367580 3475532 373040 202570 517012 486993 83419754 47186786 35613420 36232968 15909755 16505952 11571023 13353846 414766 457415 82947217 81892976 2490832 2167212 1549611 2510521 14056378 13746657 191287 198584 229465 412974 18517573 19035948 X 41161650 38681115 23267994 24175913 64429644 62857028 82947217 81892976 X -3897844 2144851 180377 X 0 1 X 1 1 1 X 7946251 8237088 7576912 6389626 3163279 33313156 7946251 8237088 7576912 6389626 3163279 33313156 3123394 30189762 380449 917785 930999 1096913 1276599 4602745 456171 456171 38372072 200866005 0.78680 0.82690 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2024 AMOUNT: $ 456,171. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 70870 X X X 0 0 1 X 26841133 718865 3230954 934315 52081 29804556 23194978 1404504 3095550 808069 45830 26841133 19429773 2340290 2175399 713471 37013 23194978 20473525 2539831 -2956915 591578 35090 19429773 15832320 1228328 4030614 539697 78040 20473525 0.30452 0.51597 0.17951 1 1 1 144370 144370 57640828 25663193 31977635 22800658 19213435 3587223 2833898 2310158 523740 36232968 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2617545 F ALTERNATIVE INVESTMENTS 4235878 F FIXED INCOME INVESTMENTS 6500423 F 13353846 ANNUITY OBLIGATIONS 7213 OPERATING LEASE LIABILITY 405761 412974 X 29606092 2144851 17059 188964 2350874 27255218 52081 18202819 18254900 45510118 31178708 17059 8587 25646 31153062 52081 18202819 18254900 49407962 PART III, LINE 4: DESCRIPTION OF COLLECTION: 33" X 20" WATERCOLOR BY ENRICO TARENGHI WITH VALUE OF $14,000 AND 40 ETCHINGS BY SEARS GALLAGHER WITH TOTAL VALUE OF $34,000. THE ARTWORK PROVIDES AN EXAMPLE OF HOLISTIC ENRICHMENT FOR THE STUDENTS AND PROMOTES THE CONCEPTS SET FORTH IN A LIBERAL ARTS COLLEGE. THE ALUMNAE LIBRARY ALSO HAS A COLLECTION OF SOME 1000 RARE BOOKS DATING BETWEEN 1521 AND 1900. THE LIBRARY ALSO OWNS ONE MEDIEVAL MANUSCRIPT AND ABOUT A HALF-DOZEN FRAMED MEDIEVAL PAGES. THE MATERIALS ARE USED SOLELY FOR DISPLAY AND SCHOLARLY RESEARCH. PART IV, LINE 2B: ASSETS HELD FOR OTHERS REPRESENT FUNDS PLACED ON DEPOSIT BY EACH CLASS AND OTHER GROUPS WITH THE COLLEGE AS CUSTODIAN. PART X, LINE 2: UNCERTAIN TAX POSITIONS: MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE COLLEGE, THE FOUNDATION, AND FRIENDS OF ELMS TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER JUNE 30, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 180,377. FUNDRAISING EVENT EXPENSES 8,587. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 18,202,819. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 8,587. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 18,202,819. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 OUR POLICY IS PUBLISHED ON OUR WEBSITE AND IN OUR STUDENT HANDBOOKS. WE POSTED OUR NONDISCRIMINATORY POLICY WITH REGARD TO STUDENTS ON OUR WEBSITE HOMEPAGE BY THE FILING OF THIS FORM 990. LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: ELMS COLLEGE IS A PRIVATE, CATHOLIC, COEDUCATIONAL LIBERAL ARTS COLLEGE FOUNDED IN 1928 BY THE SISTERS OF ST. JOSEPH OF SPRINGFIELD, MA. THROUGH ITS PRESIDENT AND BOARD OF TRUSTEES, THE COLLEGE REAFFIRMS A POLICY OF EQUAL OPPORTUNITY AND NON-DISCRIMINATION IN EMPLOYMENT, AS WELL AS IN THE RECRUITMENT, ADMISSIONS AND RETENTION OF STUDENTS. OUR COLLEGE IS COMMITTED TO ENSURING ALL EDUCATIONAL AND PERSONNEL ACTIONS ARE ADMINISTERED ON A NON-DISCRIMINATORY BASIS AND ASSURES THAT EACH ADMINISTRATIVE OFFICER UNDERSTANDS THEIR RESPONSIBILITY TO SUPPORT THIS POLICY. A STATEMENT OF EQUAL OPPORTUNITY IS INCLUDED IN OUR STUDENT HANDBOOK, WHICH IS GIVEN TO EVERY STUDENT AND AVAILABLE ON OUR WEBSITE. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE COLLEGE RECEIVES GOVERNMENT FINANCIAL ASSISTANCE WHICH IS AWARDED TO THE STUDENTS AS SCHOLARSHIPS AND OTHER FINANCIAL AID. 0 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 4235878 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES EDUCATIONAL ASSISTANCE 134875 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES ASSISTANCE 62329 0 0 0 0 0 0 4433082 0 4433082 CENTRAL AMERICA AND THE CARIBBEAN IMPROVE MATERNAL AND CHILD HEALTH OUTCOMES IN HAITI 55108 WIRE 7221 ACCRUED EXPENSES COST 0 1 STUDENT SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 32 134875 CREDIT TO TUITION BALANCE COST 1 0 1 1 0 0 PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FUNDS ARE CREDITED AGAINST BILLED CHARGES IN A QUALIFYING STUDENT'S ACCOUNT. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBILITY STATUS ARE MONITORED USING FINANCIAL AID MANAGEMENT SOFTWARE. GRANTS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. EXECUTIVE LEADERSHIP BREAKFAST 92000 92000 67 6740 1780 92000 92000 67 6740 1780 8587 -8587 1 SPRINGFIELD PUBLIC SCHOOLS 1550 MAIN ST PO BOX 1410 SPRINGFIELD MA 01103 046001415 115 31200 0 PROGRAM SUPPORT 1 0 SCHOLARSHIPS AND GRANTS 889 18067944 PART I, LINE 2: FINANCIAL AID DISBURSEMENTS ARE MADE TO STUDENTS QUALIFYING FOR FINANCIAL GRANTS AND ARE BASED ON DEMONSTRATED FINANCIAL NEED AS REPORTED THROUGH FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). THE FUNDS ARE CREDITED AGINST BILLED CHARGES IN A QUALIFYING STUDENT'S ACCOUNT. FINANCIAL AID GRANT FUNDS AS WELL AS STUDENT ELIGIBLITY/ENROLLMENT STATUS ARE MONITORED USING FINANCIAL AID MANAGEMENT SOFTWARE. GRANTS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X 1 1 X X X 0 0 0 0 0 0 0 1 0 HARRY DUMAY PRESIDENT 324139 0 41620 0 48059 0 6743 0 23203 0 443764 0 0 0 AMANDA GARCIA DIRECTOR, MBA PROGRAM 169272 0 2186 0 0 0 3570 0 21879 0 196907 0 0 0 JULIE BECK DEAN OF NURSING 152246 0 2250 0 0 0 3292 0 15100 0 172888 0 0 0 JOYCE HAMPTON VP OF ACADEMIC AFFAIRS 154316 0 6800 0 0 0 3252 0 7987 0 172355 0 0 0 DEANA NUNES ASST CLINICAL PROFESSOR OF NURSING 151879 0 1693 0 0 0 3463 0 14106 0 171141 0 0 0 JANET WILLIAMS PROFESSOR OF BIOLOGY 159046 0 1789 0 0 0 3337 0 1058 0 165230 0 0 0 PETER DEPERGOLA ASC PROF BIOETHICS & MED HUMANITIES 157496 0 1776 0 0 0 3200 0 78 0 162550 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS INCLUDED IN OFFICER'S W-2. PART I, LINE 3 DETERMINING COMPENSATION OF THE COLLEGE'S PRESIDENT AND SENIOR MANAGEMENT INCLUDES A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE PRESIDENT'S COMPENSATION IS THEN DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF TRUSTEES. SENIOR MANAGEMENT COMPENSATION IS EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. PART I, LINE 7 DISCRETIONARY BONUSES ARE PAID TO EMPLOYEES AT TIMES BASED ON PERFORMANCE. ALL BONUSES ARE APPROVED IN THE SAME WAY THAT SALARY IS APPROVED. DURING CALENDAR YEAR 2024, DISCRETIONARY BONUSES WERE PAID TO THE FOLLOWING INDIVIDUALS LISTED IN FORM 990 PART VII: HARRY DUMAY $41,620 BEVIN PETERS $4,300 JOYCE HAMPTON $6,800 AMANDA GARCIA $2,186 JULIE BECK $2,250 DEANA NUNES $1,693 JANET WILLIAMS $1,789 PETER DEPERGOLA $1,776 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 NONEAVAIL 2019-12-31 14986000 RESTORATION OF HISTORIC CAMPUS BLDG, REFINANCING & OTHER CAPITAL PROJECTS 0 0 0 A 1062711 14986000 216284 3213251 11556465 2020 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 20725 SCHOLARSHIPS EDUCATION FR MARK STELZER BROTHER OF TRUSTEE 92802 EMPLOYMENT 0 LYNN GAMBLE RELATIVE OF TRUSTEE 41289 EMPLOYMENT 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (1)(A) NAME OF PERSON: FR. MARK STELZER(1)(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:BROTHER OF BOARD CHAIR PAUL M. STELZER(1)(D) DESCRIPTION OF TRANSACTION: BROTHER OF BOARD CHAIR IS EMPLOYED BY THE COLLEGE.(2)(A) NAME OF PERSON: LYNN GAMBLE(2)(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:MOTHER IN LAW OF TRUSTEE LINDSEY GAMBLE(2)(D) DESCRIPTION OF TRANSACTION: MOTHER IN LAW OF TRUSTEE IS EMPLOYED BY THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 3 FROM MARCH UNTIL OCTOBER OF 2024, ELMS COLLEGE OUTSOURCED THE POSITION OF ITS INTERIM VICE PRESIDENT OF FINANCE AND ADMINISTRATION TO COLLEGIATE ENTERPRISE SOLUTIONS, FOLLOWED BY ZRG PARTNERS. THOSE COMPANIES COMPENSATED BRYANT MORGAN $156,000 IN CALENDAR YEAR 2024 TO SERVE AS ELMS COLLEGE'S INTERIM VICE PRESIDENT OF FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION A, LINE 4 THE COLLEGE AMENDED ITS ARTICLES OF ORGANIZATION AND BYLAWS. SIGNIFICANT CHANGES WERE MADE AND ARE AS FOLLOWS: THE PURPOSE OF THE COLLEGE IS RESTATED TO REFLECT ITS MISSION. AN ALTERNATE YEARS" RESTRICTION IS REMOVED CONCERNING THE BOARD'S ELECTIONS OF A CHAIR AND VICE CHAIR, SO THAT EITHER MAY BE ELECTED AT ANY BOARD MEETING. THE REMOVAL OF THE BOARD'S TREASURER OR CLERK IS DELEGATED TO THE PRESIDENT. THE SELECTION AND TERMINATION OF VICE PRESIDENTS IS DELEGATED TO THE PRESIDENT. OTHER APPROPRIATE FINANCE PERSONNEL AS DESIGNATED BY THE PRESIDENT CAN SIGN AND EXECUTE NOTES, CONTRACTS, CHECKS AND OTHER DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE ADMINISTRATION REVIEWS THE COMPLETE FORM 990 AND ACCOMPANYING SCHEDULES IN DETAIL WITH THE AUDIT COMMITTEE FOR THEIR APPROVAL. A COMPLETE COPY OF THE APPROVED FORM 990 AND ITS MAJOR COMPONENTS IS DISTRIBUTED TO THE BOARD OF TRUSTEES THROUGH AN INTERNAL TRUSTEE PORTAL PRIOR TO FILING. TRUSTEES ARE ALSO INVITED TO DIRECT ANY QUESTIONS THAT THEY HAVE ABOUT THE FORM 990 TO THE BUSINESS OFFICE PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE MADE AWARE OF THEIR DUTY TO DISCLOSE ANY CONFLICTS OF INTEREST AND THAT THEY MUST BE DISCLOSED AS SOON AS POSSIBLE ONCE THEY BECOME AWARE. ELMS COLLEGE LAST REVISED THE CONFLICT OF INTEREST POLICY IN OCTOBER 2020. THE REVISED POLICY APPLIES TO ALL TRUSTEES, NON-TRUSTEE MEMBERS OF COMMITTEES OR SUBCOMMITTEES, OFFICERS AND KEY EMPLOYEES OF THE COLLEGE AND REQUIRES DISCLOSURE OF ANY CONFLICTS OF INTEREST ANNUALLY OR AS SOON AS THEY BECOME AWARE OF A POTENTIAL CONFLICT. UNTIL THE PRESIDENT OR CHAIR OF THE BOARD CAN REVIEW THE POTENTIAL CONFLICT, THE PARTY MUST RECUSE THEMSELVES FROM ANY DELIBERATIONS AND DECISIONS WHICH IMPLICATE THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE CONDUCTS A MARKET ANALYSIS USING COMPENSATION SURVEYS FROM PROFESSIONAL ORGANIZATIONS SUCH AS CUPA. THIS INFORMATION IS COMPARED TO MANAGEMENT'S COMPENSATION BASED ON JOB TITLE, JOB DESCRIPTION, AND JOB EXPERIENCE TO DETERMINE WHETHER THE COLLEGE'S COMPENSATION IS COMPARABLE. THE EXECUTIVE COMMITTEE DETERMINES THE PRESIDENT'S COMPENSATION AND RECOMMENDS IT TO THE BOARD OF TRUSTEES, WHICH APPROVES IT. THIS PROCESS WAS LAST COMPLETED IN MARCH 2025. SENIOR MANAGEMENT COMPENSATION IS EVALUATED AND APPROVED BY THE PRESIDENT AND THEN SENT TO THE EXECUTIVE COMMITTEE FOR APPROVAL. APPROVAL IS DOCUMENTED BY THE MEETING MINUTES. THIS PROCESS WAS LAST COMPLETED IN OCTOBER 2025. FORM 990, PART VI, SECTION C, LINE 19 COLLEGE OF OUR LADY OF THE ELMS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE BUSINESS OFFICE. FORM 990, PART XI, LINE 9: NET CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 180,377. ELMS COLLEGE FOUNDATION INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 462395041 SUPPORT EDUCATIONAL MISSION OF ELMS COLLEGE MA 501(C)(3) LINE 12A, I COLLEGE OF OUR LADY OF THE ELMS 1 FRIENDS OF ELMS COLLEGE INC 291 SPRINGFIELD STREET CHICOPEE MA 01013 208196902 SUPPORT EDUCATIONAL MISSION OF ELMS COLLEGE MA 501(C)(3) LINE 12A, I COLLEGE OF OUR LADY OF THE ELMS 1 PERPETUAL TRUST (1) C/O ELMS COLLEGE 291 SPFLD ST CHICOPEE MA 01013 CHARITABLE TRUST MA COLLEGE OF OUR LADY OF THE ELMS T 92801 1897527 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 ELMS COLLEGE FOUNDATION INC D 125000 CASH HELD FOR COLLEGE ELMS COLLEGE FOUNDATION INC S 160000 TRANSFER OF CASH HELD FOR COLLEGE