2026-05-15T09:04:23-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 042104258 GORDON COLLEGE GORD 9788674883 255 GRAPEVINE ROAD WENHAM MA 01984 JEFF EUBANK INTERIM VP FOR FINANCE & CFO 9788674883 2026-05-15 1 1 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z MICHAEL D HAMMOND 255 GRAPEVINE ROAD WENHAM MA 01984 96485857 0 X WWW.GORDON.EDU X 1889 MA GORDON COLLEGE STRIVES TO GRADUATE MEN & WOMEN DISTINGUISHED BY (CONTINUED ON SCHEDULE O) (CONTINUATION) INTELLECTUAL MATURITY AND CHRISTIAN CHARACTER, COMMITTED TO LIVES OF SERVICE AND PREPARED FOR LEADERSHIP WORLDWIDE. 21 19 1545 22 0 0 12566237 10694997 56896658 61010711 6564170 10437824 16385 409518 76043450 82553050 16869757 18038008 0 0 33799331 36290962 0 0 2157074 27909854 28627617 78578942 82956587 -2535492 -403537 187919534 194941393 30404411 31441970 157515123 163499423 X SEE SCHEDULE O 0 0 53055023 17955216 40748741 HIGHER EDUCATION: OUR LARGEST PROGRAM SERVICE IS PROVIDING EDUCATION AND INSTRUCTION TO INDIVIDUALS GIVING THEM AN OPPORTUNITY TO EARN AN UNDERGRADUATE DEGREE, GRADUATE DEGREE, OR GRADUATE CERTIFICATE. THE COLLEGE WELCOMES DUAL-ENROLLMENT STUDENTS AND LEARNERS PURSUING PROFESSIONAL DEVELOPMENT AFTER COLLEGE. GORDON COLLEGE IS THE ONLY NONDENOMINATIONAL CHRISTIAN LIBERAL ARTS COLLEGE IN NEW ENGLAND. IT OFFERS 35 MAJORS AND CONFERS 3 DISTINCT UNDERGRADUATE DEGREES: BACHELOR OF ARTS, BACHELOR OF SCIENCE AND BACHELOR OF MUSIC. UNDERGRADUATE ENROLLMENT OF 1,501 STUDENTS (DEGREE SEEKING AND NON-DEGREE SEEKING) IS DRAWN FROM 43 STATES AND 38 COUNTRIES. GRADUATE ENROLLMENT IN 2024-25 WAS 544 STUDENTS. (CONTINUED IN SCHEDULE O). (CONTINUATION) IN 2024-2025, GORDON COLLEGE ISSUED 317 UNDERGRADUATE DEGREES (WITH A SIX-YEAR GRADUATION RATE OF 71%). GORDON HAD A FACULTY TO STUDENT RATIO OF 11 TO 1 WITH 63% OF THE STUDENTS FROM OUTSIDE MASSACHUSETTS. OF THE 91 FULL-TIME FACULTY, 76% HAVE EARNED A DOCTORATE OR OTHER TERMINAL DEGREE. GORDON COLLEGE STUDENTS CAN TAKE ADVANTAGE OF A WIDE VARIETY OF OFF-CAMPUS PROGRAMS, BOTH DOMESTIC AND ABROAD. DURING 2024-25, 100 STUDENTS PARTICIPATED IN OFF-CAMPUS PROGRAMS AND SHORT-TERM INTERNATIONAL SEMINARS.FORM 990, PART V, LINE 2A: EMPLOYEE BREAKOUT: STAFF - 758 STUDENT - 787 TOTAL - 1545 15423259 0 17723678 AUXILIARY PROGRAMS RELATED TO THE EDUCATIONAL PROCESS FOR DORMITORY HOUSING, FOOD SERVICE, BOOKSTORE, LAVIDA OUTDOOR EXPERIENCE, BALANCE AND MOBILITY CENTER, SUMMER ATHLETIC CAMPS AND OTHER SUMMER PROGRAMS. THERE WERE 1,131 RESIDENT STUDENTS IN THE FALL SEMESTER 2024 AND 1,079 IN THE SPRING SEMESTER 2025. 1834843 82792 2538292 HIGHER EDUCATION: AS OF THE 2024-25 ACADEMIC YEAR, GORDON COLLEGE OFFERS GRADUATE PROGRAMS IN EDUCATION, MUSIC EDUCATION, CHRISTIAN LEADERSHIP, THEOLOGY, AND PUBLIC HEALTH CONFERRING DEGREES IN MASTERS OF EDUCATION, EDUCATION SPECIALIST IN EDUCATION, MASTERS OF MUSIC EDUCATION, MASTER OF ARTS IN CHRISTIAN LEADERSHIP, EDUCATION SPECIALIST IN CHRISTIAN LEADERSHIP, MASTER OF THEOLOGY FOR COMMUNITY TRANSFORMATION, AND MASTER OF PUBLIC HEALTH. THE TOTAL OF UNDUPLICATED GRADUATE STUDENTS WAS 544 DRAWN FROM 37 STATES AND 16 COUNTRIES. GORDON COLLEGE CONFERRED 100 MASTER'S DEGREES IN 2024-25. 70313125 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 0 0 0 1 0 0 1 1545 1 0 1 IT 0 0 0 0 0 0 0 0 0 0 X 21 19 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X JEFF EUBANK 9788674883 255 GRAPEVINE WENHAM MA 01984 DR CARRIE TIBBLES CHAIRMAN OF THE BOARD 5.00 0.50 X X 0 0 0 SANTIAGO SEDACA VICE CHAIR 5.00 0.50 X X 0 0 0 LISA FORKNER CLERK 5.00 0.50 X X 0 0 0 JOHN SARGENT TREASURER 5.00 0.50 X X 0 0 0 SAMUEL ACEVEDO TRUSTEE 1.00 0.00 X 0 0 0 FRANCIS BROWN II TRUSTEE 1.00 0.00 X 0 0 0 DR WILLIAM BROWN TRUSTEE 1.00 0.50 X 0 0 0 DR DOROTHY CHAPPELL TRUSTEE 1.00 0.50 X 0 0 0 FOSTER CHASE TRUSTEE 1.00 0.00 X 0 0 0 CHARLEY GEORGE TRUSTEE 1.00 0.00 X 0 0 0 PETER HERSCHEND TRUSTEE 1.00 0.50 X 0 0 0 ENOCH LIAO TRUSTEE 1.00 0.00 X 0 0 0 DOUGLAS MACGRAY TRUSTEE 1.00 0.00 X 0 0 0 REID MACLELLAN TRUSTEE 1.00 0.50 X 0 0 0 ALEXIS RAPO TRUSTEE 1.00 0.00 X 0 0 0 BALASUBRAMANIAM RAVICHANDRAN TRUSTEE 1.00 0.00 X 0 0 0 SAMUEL SCHREINER III TRUSTEE 1.00 0.50 X 0 0 0 MARY SHAHIAN TRUSTEE 1.00 0.00 X 0 0 0 MADELYN SHIELDS TRUSTEE 1.00 0.00 X 0 0 0 LORI SMITH TRUSTEE 1.00 0.00 X 0 0 0 KARON WILLIAMSON TRUSTEE 1.00 0.50 X 0 0 0 MICHAEL D HAMMOND PRESIDENT 60.00 1.00 X 398566 0 275572 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 60.00 0.00 X 187302 0 26960 TIMOTHY BREENE EXECUTIVE VP 60.00 0.00 X 143250 0 0 JEFF EUBANK INTERIM VP FIN. & CFO 60.00 0.50 X 0 0 0 BRITT CARLSON EATON VP FOR ADVANCEMENT 60.00 0.00 X 150765 0 32194 ROBERT GRINNELL PHILANTHROPIC ADVISOR 60.00 0.00 X 148735 0 32493 JON WELTY PEACHY DEAN OF ACADEMIC AFFAIRS 60.00 0.00 X 141798 0 33976 KAREN DAVIE CHIEF HUMAN RESOURCES OFFICER 60.00 0.00 X 130888 0 34826 CHRISTOPHER CARLSON CHIEF STUDENT AFFAIRS OFFICER 60.00 0.00 X 119324 0 26406 1420628 0 462427 62 0 1 0 METZ CULINARY MANAGEMENT LLC TWO WOODLAND DRIVE DALLAS PA 18612 DINING SERVICE MANAGEMENT 5724710 RESOURCE & ENERGY CONSULTING LLC PO BOX 367 NORTH ANDOVER MA 01845 CONSTRUCTION 1294987 7 WAYS INTERNATIONAL INC 404 PARADISE ROAD UNIT 3B SWAMPSCOTT MA 01907 CONSTRUCTION 723444 KINGDOM CONTRACT FLOORING LLC 9 BLOSSOM ROAD PLAISTOW NH 03865 CONSTRUCTION 674555 NARDONE ELECTRIC CORPORATION 160 OLYMPIA AVENUE WOBURN MA 01801 CONSTRUCTION 502267 29 369641 10325356 985360 10694997 TUITION FEES 611310 42639279 42639279 RESIDENCE HALL REVENUE 611310 10781192 10781192 BOARD PLAN 611310 4491693 4491693 SUMMER PROGRAMS 611310 1694891 1694891 BALANCE AND MOBILITY CENTER 611310 339911 339911 1063745 1063745 61010711 3451473 3451473 409518 0 409518 409518 409518 20919158 13931438 1369 6987720 -1369 6986351 6986351 82553050 61010711 0 10847342 15995055 15995055 2042953 2042953 1031651 214262 143250 674139 62268 25172 37096 27040817 20578459 6029259 433099 464799 347893 97605 19301 5714367 3981841 1424554 307972 1977060 1472208 423661 81191 337761 337761 161760 161760 441929 441929 7040393 6153080 759253 128060 594878 256674 337555 649 2986498 2324264 527612 134622 1612402 689200 839277 83925 5478296 5134571 343725 2767148 2627907 75211 64030 15785 12057 3728 701104 588226 112878 4760894 4638995 108593 13306 702569 74951 627618 SPECIAL EVENTS 993881 706583 130368 156930 BOND EXPENSES 8766 0 8766 0 ALLOCATION OF OPERATION 0 2473946 -2490450 16504 23553 17303 6250 82956587 70313125 10486388 2157074 622218 1837349 15387208 9228332 11315385 3329183 1371996 2860777 15752 14891 975620 1405224 191630264 148618548 42574121 43011716 114422855 126075461 528218 383671 706161 6794789 187919534 194941393 3463183 4007357 1475369 1565701 14745795 14754560 26713 137994 1477386 837954 0 1375000 9215965 8763404 30404411 31441970 X 73710572 78754407 83804551 84745016 157515123 163499423 187919534 194941393 X -403537 6323718 64119 X 0 1 X 1 1 1 X 9241739 10699827 13845084 12566237 10694997 57047884 9241739 10699827 13845084 12566237 10694997 57047884 26969933 30077951 1331357 1765725 2395399 3435756 3860991 12789228 69837112 302968310 0.43070 0.54910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 115090366 1540624 15236927 2601367 5322478 123944072 105587979 2103778 13956469 2225174 4332686 115090366 87072779 15093291 7622139 1587458 2612772 105587979 98936710 6431285 -13893319 2323844 2078053 87072779 78099186 5208842 19472316 2105789 1737845 98936710 0.42000 0.44000 0.14000 0 0 1799226 1799226 137370172 100582252 36787920 38031090 36160607 1870483 14429776 11875689 2554087 43011716 CARES ACT PPP LOAN 7046037 ADVANCES FROM US DOE 662558 ANNUITY PAYMENT OBLIGATIONS 536597 CONDITIONAL ASSET RETIREMENT OBLIGATION 518212 8763404 X PART III, LINE 1A: THE COLLEGE HOLDS CERTAIN COLLECTIONS OF WORKS OF ART AND FURNISHINGS. THESE COLLECTIONS ARE HOUSED IN A PROTECTED ENVIRONMENT AND ARE USED FOR EXHIBITION PURPOSES FOR THE PUBLIC, FOR EDUCATION AND RESEARCH, AS WELL AS FOR THE FURTHERANCE OF SERVICE TO THE PUBLIC. THESE COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAINS NOR ARE THEY ENCUMBERED IN ANY MANNER. ACCORDINGLY, THESE COLLECTIONS ARE NOT CAPITALIZED OR RECORDED FOR PURPOSES OF PREPARING THE ACCOMPANYING FINANCIAL STATEMENTS. PART III, LINE 4: OCCASIONALLY THE COLLEGE RECEIVES GIFTS OF ART OR COLLECTIBLES WHICH ARE PUT ON DISPLAY IN VARIOUS BUILDINGS THROUGHOUT THE CAMPUS. WE ALSO MAINTAIN LIBRARY ARCHIVES OF COLLEGE HISTORICAL DOCUMENTS AND BOOK COLLECTIONS KEPT FOR POSTERITY. PART IV, LINE 2B: THE COLLEGE MAINTAINS CUSTODIAL OR "PASS THROUGH" ACCOUNTS FOR FEDERALSTUDENT LOANS, PELL GRANT AND STATE GRANTS. FUNDS ARE HELD IN THESE ACCOUNTS UNTIL DISTRIBUTED TO INDIVIDUAL STUDENTS. THE COLLEGE ALSO MAINTAINS CUSTODIAL ACCOUNTS FOR STUDENT GOVERNMENT AND STUDENT MINISTRY GROUPS AND ACTIVITIES. PART V, LINE 4: THE INTENDED USE OF ENDOWMENT FUNDS IS DRIVEN BY DONOR RESTRICTIONS ON OUR ENDOWMENTS. APPROXIMATELY 37% OF APPROPRIATED REVENUES THIS YEAR WERE IN SCHOLARSHIP AWARDS. 39% OF REVENUES SUPPORTED GENERAL ACTIVITIES AND PHYSICAL PLANT. THE REMAINING 24% WAS ALLOCATED TO INSTRUCTIONAL ACTIVITIES AND ACADEMIC SUPPORT PROGRAMS. DISTRIBUTIONS OF INCOME ARE MADE USING A TOTAL RETURN METHOD. WE USED A SPENDING RATE OF 8% OF THE 3 YEAR ROLLING AVERAGE OF THE FAIR MARKET VALUE OF THE INVESTMENTS. PART X, LINE 2: FIN 48 FOOTNOTE: THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GIVEN THE TECHNOLOGY AVAILABLE TODAY, WE HAVE INVESTED IN OUR WEB SITE AS THE WAY TO REACH THE MOST STUDENTS. OUR RACIALLY NONDISCRIMINATORY POLICY IS POSTED ON OUR WEB SITE. OUR PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS IN EACH GEOGRAPHIC AREA ARE DESIGNED TO INFORM STUDENTS OF ALL RACIAL SEGMENTS INTERESTED IN A CHRISTIAN COLLEGE OF THE AVAILABILITY OF GORDON COLLEGE. SCHEDULE E, PART I, LINE 6 GORDON COLLEGE RECEIVES TITLE IV FUNDS FOR AID TO STUDENTS FROM THE DEPARTMENT OF EDUCATION FOR FEDERAL WORK STUDY, FSEOG, FEDERAL PELL GRANT AND OTHER FEDERAL STUDENT AID GRANT PROGRAMS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 4 PROGRAM SERVICES STUDY ABROAD & MISSIONS 818867 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDY ABROAD & MISSIONS 13634 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDY ABROAD & MISSIONS 62346 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLOMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDY ABROAD & MISSIONS 78247 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTMAKING 119700 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING 936361 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTMAKING 226484 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTMAKING 19790 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTMAKING 46000 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 GRANTMAKING 85216 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLOMBIA, ECUADOR, 0 0 GRANTMAKING 182229 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANTMAKING 84506 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTMAKING 342667 1 4 0 0 1 4 2275429 740618 3016047 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 7 119700 ACCOUNT CREDIT 0 SCHOLARSHIP EAST ASIA AND THE PACIFIC 58 936361 ACCOUNT CREDIT 0 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 14 226484 ACCOUNT CREDIT 0 SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 1 19790 ACCOUNT CREDIT 0 SCHOLARSHIP NORTH AMERICA 2 46000 ACCOUNT CREDIT 0 SCHOLARSHIP RUSSIA AND NEIGHBORING STATES 4 85216 ACCOUNT CREDIT 0 SCHOLARSHIP SOUTH AMERICA 13 182229 ACCOUNT CREDIT 0 SCHOLARSHIP SOUTH ASIA 4 84506 ACCOUNT CREDIT 0 SCHOLARSHIP SUB-SAHARAN AFRICA 18 342667 ACCOUNT CREDIT 0 0 0 0 0 0 0 PART I, LINE 2: GRANTS AND SCHOLARSHIPS TO INTERNATIONAL STUDENTS ARE TREATED AS TUITION DISCOUNTS AND ARE APPLIED AS ACCOUNTING CREDITS ON EACH STUDENT'S BILL. THEY ARE NOT PAID DIRECTLY TO THE STUDENT. MERIT SCHOLARSHIPS ARE AWARDED BASED ON ACADEMIC CRITERIA AND ARE RENEWED ANNUALLY BASED ON SATISFACTORY GPA REQUIREMENTS THAT ARE VERIFIED BY THE REGISTRAR'S OFFICE. DONATED SCHOLARSHIP FUNDS ARE AWARDED BASED ON CRITERIA PROVIDED BY DONORS. SPECIFIC ELIGIBILITY IS VERIFIED ANNUALLY BY THE REGISTRAR'S OFFICE, ADMISSIONS AND THE FINANCIAL AID OFFICE. NEED BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. THE COLLEGE USES INFORMATION PROVIDED BY THE CSS PROFILE OF THE COLLEGE BOARD. THE GRANT AMOUNT IS CARRIED FORWARD FROM YEAR TO YEAR UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. PART I, LINE 3: EUROPE ONLY: WE OFFER SEMESTER BASED PROGRAMS IN ITALY. EXPENDITURES ARE REPORTED USING ACCRUAL BASED ACCOUNTING. EMPLOYEE COMPENSATION IS PROCESSED THROUGH OUR CAMPUS PAYROLL SYSTEM. OTHER PROGRAM COSTS ARE MANAGED BY THE PROGRAM DIRECTORS. FUNDS ARE WIRED PERIODICALLY AT THE REQUEST OF THE PROGRAM LEADERS AND APPROVED BY THE DIRECTOR OF GLOBAL EDUCATION. THE PROGRAM LEADERS PAY LOCAL EXPENSES. EXPENSE DOCUMENTATION IS SUBMITTED TO THE CONTROLLER'S OFFICE FOR REVIEW. COSTS RECORDED AT THE TIME OF THE WIRES ARE FOR TUITION, ROOM, BOARD AND INCIDENTALS OF THE STUDENTS. WE ALSO OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 2-4 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. OTHER REGIONS: WE OFFER INTERNATIONAL SEMINAR COURSES WHICH ARE RUN FOR 1-5 WEEK PERIODS ON A SUBJECT RELATED TO THAT COUNTRY. IN COUNTRY EXPENSES ARE FOR FOOD, LODGING, TRANSPORTATION AND ENTRANCE FEES. THE GLOBAL EDUCATION OFFICE ALSO APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. THE GLOBAL EDUCATION OFFICE APPROVES STUDENTS TO ATTEND NON-GORDON PROGRAMS AT OTHER ORGANIZATIONS OR FOREIGN COLLEGES OR UNIVERSITIES. FUNDS ARE SENT ON BEHALF OF THOSE STUDENTS DIRECTLY TO THOSE PROGRAMS. MISSIONS AND SERVICE LEARNING TRIPS: GOAL OF TRIPS IS TO HELP STUDENTS SERVE OVERSEAS FOR A PERIOD OF TIME RANGING FROM 1-8 WEEKS OVER SEMESTER OR SUMMER BREAKS. THEY ARE STUDENT LED/STAFF ADVISED. IN COUNTRY COSTS ARE FOR FOOD, HOUSING, TRANSPORTATION AND SERVICE PROJECT EXPENSES. WHERE POSSIBLE, FUNDS ARE WIRED FOR THESE COSTS BASED ON APPROVALS FROM THE DEAN OF CHAPEL. PER DIEM ADVANCES BASED ON STATE DEPARTMENT RATES ARE ISSUED TO TRIP LEADERS TO PAY IN COUNTRY COSTS. TRIP LEADERS MUST DOCUMENT THE EXPENSES WITH DETAILED ITINERARIES AND HAVE APPROVAL FROM THE DEAN OF CHAPEL. GLOBAL INTERNSHIPS: WE STRONGLY BELIEVE GLOBAL INTERNSHIPS PROVIDE OUR STUDENTS WITH RICH CROSS-CULTURAL EXPERIENCES, HELP THEM BUILD NETWORKS WITH GLOBAL ORGANIZATIONS IN DIVERSE AREAS OF WORK AND MINISTRY, AND POSITION THEM WELL TO MEET THE CHALLENGES IN AN INCREASINGLY COMPETITIVE WORLD. STUDENTS CAN APPLY FOR ASSISTANCE WITH TRAVEL COSTS TO INTERNATIONAL LOCATIONS THROUGH THE GLOBAL INTERNSHIP PROGRAM. THE PROGRAM IS ADMINISTERED BY THE PROVOST OFFICE AND THE CAREER SERVICES OFFICE. GLOBAL HONORS SCHOLARS: THE COLLEGE HAS DEVELOPED AN HONORS PROGRAM FROM WHICH 12 TO 15 STUDENTS ARE SELECTED EACH YEAR. IN ADDITION TO SCHOLARSHIP, IT INVOLVES TRAVEL TO AN INTERNATIONAL LOCATION AS A COHORT AND WITH FACULTY AND THE PRESIDENT OF THE COLLEGE AFTER THEIR FIRST YEAR AND AFTER THEIR SECOND YEAR FOR AN INTERNATIONAL VOCATIONAL INTERNSHIP. THE PRESIDENT TRAVELED ON BEHALF OF THE COLLEGE FOR STUDENT RECRUITMENT AND PROGRAM DEVELOPMENT. 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. 1 SCHOLARSHIPS AND GRANTS TO STUDENTS 1162 15559974 0 FSEOG GRANTS TO STUDENTS 156 162460 0 FWS GRANTS TO STUDENTS 206 247632 0 FEDERAL TEACH GRANT 10 24989 0 PART I, LINE 2: GORDON COLLEGE AWARDS THREE TYPES OF GRANTS/SCHOLARSHIPS: MERIT SCHOLARSHIPS, NEED-BASED GRANTS AND ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS. MERIT SCHOLARSHIPS ARE AWARDED BASED ON THE INCOMING STUDENT'S ACADEMIC CRITERIA DETERMINED BY THE ADMISSIONS OFFICE. THESE SCHOLARSHIPS ARE RENEWED ANNUALLY BY VERIFICATION OF THE REGISTRAR'S OFFICE THAT CUMULATIVE GPA REQUIREMENTS ARE MET. NEED-BASED GRANTS ARE AWARDED BASED ON THE STUDENT'S DETERMINED FINANCIAL NEED. WE DETERMINE FINANCIAL NEED USING INFORMATION PROVIDED BY THE FAFSA. WE PRACTICE LEVEL-FUNDING OF THE NEED-BASED GRANTS TO FUTURE YEARS UNLESS THERE IS A SIGNIFICANT CHANGE IN DETERMINED FINANCIAL NEED. ENDOWMENT FUNDED RESTRICTED SCHOLARSHIPS ARE AWARDED BASED ON CRITERIA ESTABLISHED BY DONORS. THE CRITERIA INFORMATION ON SPECIFIC ELIGIBLE STUDENTS IS PROVIDED BY THE REGISTRAR, ADMISSIONS AND FINANCIAL AID OFFICES. STUDENTS ARE EVALUATED ANNUALLY TO VERIFY THEY CONTINUE TO MEET THE DONOR CRITERIA FOR AN ENDOWMENT AWARD. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 MICHAEL D HAMMOND PRESIDENT 364253 0 30000 0 4313 0 3107 0 272465 0 674138 0 0 0 SANDRA DONESKI EVP FOR ACADEMIC AFFAIRS 176612 0 10000 0 690 0 2077 0 24883 0 214262 0 0 0 BRITT CARLSON EATON VP FOR ADVANCEMENT 140490 0 10000 0 275 0 1586 0 30608 0 182959 0 0 0 ROBERT GRINNELL PHILANTHROPIC ADVISOR 145115 0 0 0 3620 0 1576 0 30917 0 181228 0 0 0 JON WELTY PEACHY DEAN OF ACADEMIC AFFAIRS 140199 0 0 0 1599 0 1556 0 32420 0 175774 0 0 0 KAREN DAVIE CHIEF HUMAN RESOURCES OFFICER 129960 0 0 0 928 0 1406 0 33420 0 165714 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: OCCASIONALLY SPOUSES OF OFFICERS ACCOMPANY THEM ON BUSINESS TRIPS FOR THE COLLEGE. IN ORDER TO BE TREATED AS A WORKING CONDITION FRINGE BENEFIT, THE COLLEGE REQUIRES SUBSTANTIATION OF THE TRIP AS A BONAFIDE BUSINESS EXPENSE FOR BOTH THE OFFICER AND THE SPOUSE. IF THERE IS NO BUSINESS PURPOSE FOR THE SPOUSE, THE SPOUSAL TRAVEL IS TREATED AS TAXABLE INCOME TO THE OFFICER OR THE OFFICER REIMBURSES THE COLLEGE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE LISTED PERSON RECEIVED THIS BENEFIT. THE PRESIDENT IS REQUIRED TO LIVE IN ON-CAMPUS HOUSING FOR HOSTING PURPOSES AND 24/7 AVAILABILITY TO THE CAMPUS COMMUNITY. BECAUSE OF THIS REQUIREMENT, IT IS EXCLUDED FROM WAGES UNDER SECTION 119 OF THE IRS CODE. THE HOUSING VALUE INCLUDED IN NON-TAXABLE COMPENSATION WAS $102,000. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN D. ONE INDIVIDUAL RECEIVED HOUSING ASSISTANCE AS A TAXABLE BENEFIT. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 OFFICERS AND OTHER EMPLOYEES WERE GIVEN BONUSES FOR EXCEEDING THE GOALS AND EXPECTATIONS ASSIGNED TO THEM FOR THE YEAR. RECOMMENDATIONS FOR BONUSES ARE MADE BY THE PRESIDENT TO THE EXECUTIVE COMMITTEE OF THE BOARD. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND DETERMINES BONUS PAYMENTS. SUSPENSION OF QUALIFIED RETIREMENT PLAN: THE COLLEGE SUSPENDED CONTRIBUTIONS AS OF JULY 2020 TO THE DEFINED CONTRIBUTION PLAN. CONTRIBUTIONS WERE REINSTATED EFFECTIVE JULY 1, 2024, WHICH ARE REPORTED WITHIN SCHEDULE J, PART II, COLUMN C. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2023-06-29 15000000 REFUND ISSUED FOR SERIES 2020 0 0 0 A 15000000 225971 14774029 2023 1 0 1 1 A 0 0 1 1 0 0.00760 0.00760 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 NA NOT REQUIRED N/A NOT REQUIRED 70000 SCHOLARSHIP ACADEMIC MERIT SCHOLARSHIPS BASED ON STANDARD FOR 3 INTERESTED PERSONS. JENNIFER HAMMOND SPOUSE OF PRESIDENT 36900 EMPLOYMENT COMPENSATION 0 BENNETT FORKNER SON OF TRUSTEE 45806 EMPLOYMENT COMPENSATION 0 X 39 985360 FMV ON DATE RECEIVED 0 0 1 0 PART I, COLUMN (B): THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: WE BELIEVE STUDENTS SHOULD BE EQUIPPED TO FLOURISH IN AN UNCERTAIN AND CHANGING WORLD. AT GORDON COLLEGE, CAREER-FOCUSED UNDERGRADUATE ACADEMICS BLEND WITH A LIFE-GIVING FAITH COMMUNITY TO PREPARE YOUNG CHRISTIANS TO MAKE A DIFFERENCE WITH HOPE AND CONFIDENCE. THE COLLEGE ALSO WELCOMES LEARNERS INTO EDUCATION, MUSIC, AND MINISTRY GRADUATE PROGRAMS WITHIN A FAITH-INFORMED COMMUNITY. WE STRIVE TO EQUIP EVERY LEARNER FOR A LIFE OF MEANINGFUL WORK, SERVICE, AND LEADERSHIP. FORM 990, PART VI, SECTION A, LINE 3 THE CURRENT INTERIM CFO IS EMPLOYED THROUGH A MANAGEMENT COMPANY, CFO COLLEAGUE LLC. TOTAL COMPENSATION TO THE MANAGEMENT COMPANY FOR FY2025 SERVICES WAS $261,572. FORM 990, PART VI, SECTION B, LINE 11B GRANT THORNTON PREPARES THE 990 AND SUBMITS IT FOR REVIEW TO THE VICE PRESIDENT FOR FINANCE, THE PRESIDENT AND CONTROLLER. THE FORM 990 IS ALSO REVIEWED BY TAX ADVISORS FROM GRANT THORNTON. ONCE THE FORM 990 IS APPROVED BY THE PRESIDENT AND VICE PRESIDENT, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE, THE FORM 990, AS IT WILL ULTIMATELY BE FILED, IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL DISCLOSURE FORM DELINEATING CONFLICTS IS DISTRIBUTED TO ALL TRUSTEES AT THE ANNUAL BOARD MEETING AND MUST BE SIGNED BY EACH TRUSTEE. A COPY IS MAILED TO ANY TRUSTEE WHO IS ABSENT AND MUST BE SIGNED AND RETURNED. TRUSTEES MUST RECUSE THEMSELVES FROM ANY DISCUSSION OF OR VOTE ON ANY ISSUE INVOLVING CONFLICTS OF INTEREST. KEY EMPLOYEES AND OFFICERS MUST ALSO SIGN AN ANNUAL CONFLICT OF INTEREST FORM WHICH CLEARLY DELINEATES CONFLICTS OF INTEREST. THE VICE PRESIDENT FOR FINANCE MONITORS AND REVIEWS THE CONFLICT OF INTEREST STATEMENTS. THE PRESIDENT'S OFFICE COLLECTS AND MAINTAINS THEM. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD SERVES AS THE COMPENSATION COMMITTEE FOR THE PRESIDENT'S POSITION. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT BOARD MEMBERS. CCC, CCCU AND OTHER PEER INSTITUTIONS COMPENSATION STUDIES OF COLLEGE PRESIDENTS ARE REVIEWED BY THE COMMITTEE AND THE SALARY IS SET BY COMMITTEE VOTE. THE PRESIDENT HAS AN ANNUAL REVIEW BY THE COMMITTEE AND IS JUDGED BASED ON ATTAINMENT OF GOALS FOR THE YEAR. THE PRESIDENT SUBMITS COMPENSATION COMPARABILITY DATA TO THE COMMITTEE FOR THE PROVOST, VICE PRESIDENT AND CFO FOR FINANCE AND EXECUTIVE VICE PRESIDENT POSITIONS. COMPENSATION INCREASES AND BONUSES, IF ANY, ARE BASED UPON JOB PERFORMANCE AND THE INDEPENDENT STUDIES. MINUTES ARE KEPT OF THE PROCESS AND THE COMMITTEE VOTE. THE LAST REVIEW PROCESS TOOK PLACE IN FEBRUARY 2025. FORM 990, PART VI, SECTION C, LINE 19 OUR GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AND ON OUR PUBLIC WEB SITE. OUR CONFLICT OF INTEREST POLICY IS AVAILABLE ON OUR PUBLIC WEB SITE. OUR FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND COPIES ARE MAINTAINED IN THE COLLEGE LIBRARY. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENTS 64,119. GORDON COLLEGE FOUNDATION 255 GRAPEVINE ROAD WENHAM MA 01984 222610484 LAND USE MA 501(C)(3) LINE 12A, I GORDON COLLEGE 0 CHARITABLE REMAINDER TRUSTS(4) 255 GRAPEVINE ROAD WENHAM MA 01984 CHARITABLE GIFT MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0