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Nonprofiteer
← MC DANIEL COLLEGE INC

Form 990 for tax year 2023

Filed by MC DANIEL COLLEGE INC.

Totals

Total revenue
$130,205,035
Total expenses
$130,165,145
Contributions and grants received
$15,946,597
Grants paid
$54,785,036
Program service revenue
$106,822,460
Investment income
$7,085,197
Other revenue
$350,781
Total assets, end of year
$247,790,413
Total liabilities, end of year
$49,278,521
Net assets or fund balances, end of year
$198,511,892
Program services expenses (Part IX)
$122,926,157
Management and general expenses
$4,709,247
Fundraising expenses
$2,529,741
Program service expenses (Part III)
$122,926,157

Program services were 94.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $13,411

  • 1e · Government grants (contributions)

    $7,468,295

  • 1f · All other contributions, gifts and grants

    $8,464,891

  • 1g · Noncash contributions included above

    $168,663

  • 2a · Program service revenue: TUITION & FEES - UNDERGRADUATE

    total $79,932,329 · related or exempt $79,932,329

  • 2b · Program service revenue: SALES/SVCS OF AUX. ENTERPRISES

    total $17,669,636 · related or exempt $17,130,200 · unrelated business $539,436

  • 2c · Program service revenue: TUITION & FEES - GRADUATE

    total $9,220,495 · related or exempt $9,220,495

  • 3 · Investment income

    total $3,221,241 · excluded $3,221,241

  • 6a · Gross rents

    real property $133,488

  • 6b · Less rental expenses

    real property $335,333

  • 6c · Rental income or loss

    real property -$201,845

  • 6d · Net rental income or loss

    total -$201,845 · excluded -$201,845

  • 7a · Gross sales of assets other than inventory

    securities $12,974,470

  • 7b · Less cost or other basis and sales expenses

    securities $9,110,514

  • 7c · Gain or loss

    securities $3,863,956

  • 7d · Net gain or loss

    total $3,863,956 · excluded $3,863,956

  • 8a · Fundraising events: gross income

    $18,468

  • 8a · Fundraising events: contributions included on line 1c

    $13,411

  • 8b · Fundraising events: direct expenses

    $22,274

  • 8c · Net income from fundraising events

    total -$3,806 · excluded -$3,806

  • 11a · Other revenue: PARKING FINES/FEES

    total $258,050 · excluded $258,050

  • 11b · Other revenue: BAD DEBT RECOVERY

    total $114,529 · excluded $114,529

  • 11c · Other revenue: TUITION CONTRACT FEES

    total $73,250 · excluded $73,250

  • 11d · All other revenue

    total $110,603 · excluded $110,603

  • 11e · Other revenue, total

    $556,432

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $54,762,765 · program services $54,762,765

  • 3 · Grants to foreign organizations and individuals

    total $22,271 · program services $22,271

  • 5 · Compensation of officers, directors and key employees

    total $1,861,825 · program services $434,921 · management and general $1,245,258 · fundraising $181,646

  • 7 · Other salaries and wages

    total $28,568,797 · program services $26,552,748 · management and general $623,550 · fundraising $1,392,499

  • 8 · Pension plan contributions

    total $1,062,464 · program services $980,678 · management and general $27,905 · fundraising $53,881

  • 9 · Other employee benefits

    total $4,362,453 · program services $3,963,073 · management and general $170,278 · fundraising $229,102

  • 10 · Payroll taxes

    total $2,042,234 · program services $1,865,061 · management and general $69,425 · fundraising $107,748

  • 11a · Fees: management

    total $223,365 · program services $223,365

  • 11b · Fees: legal

    total $202,573 · management and general $202,573

  • 11c · Fees: accounting

    total $99,175 · management and general $99,175

  • 11d · Fees: lobbying

    total $16,541 · management and general $16,541

  • 11f · Fees: investment management

    total $1,877,915 · management and general $1,877,915

  • 11g · Fees: other

    total $9,513,875 · program services $9,163,821 · management and general $119,991 · fundraising $230,063

  • 12 · Advertising and promotion

    total $1,945,971 · program services $1,877,936 · fundraising $68,035

  • 13 · Office expenses

    total $3,570,508 · program services $3,510,483 · management and general $21,488 · fundraising $38,537

  • 14 · Information technology

    total $451,233 · program services $451,163 · fundraising $70

  • 16 · Occupancy

    total $2,755,866 · program services $2,726,681 · management and general $29,185

  • 17 · Travel

    total $513,448 · program services $477,050 · management and general $4,603 · fundraising $31,795

  • 19 · Conferences, conventions and meetings

    total $698,402 · program services $519,187 · management and general $23,482 · fundraising $155,733

  • 20 · Interest

    total $1,598,039 · program services $1,598,039

  • 22 · Depreciation, depletion and amortization

    total $5,313,314 · program services $5,313,314

  • 23 · Insurance

    total $701,139 · program services $701,139

  • 24a · Other expenses: SPONSORED PROGRAM

    total $2,741,206 · program services $2,741,206

  • 24b · Other expenses: REPAIRS/MAINTENANCE

    total $1,833,791 · program services $1,830,693 · management and general $3,098

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,829,317 · program services $1,824,828 · management and general $4,489

  • 24d · Other expenses: STUDENT SERVICES

    total $680,808 · program services $613,194 · management and general $37,348 · fundraising $30,266

  • 24e · All other expenses

    total $915,850 · program services $772,541 · management and general $132,943 · fundraising $10,366

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,057 · end of year $28,712

  • 2 · Savings and temporary cash investments

    beginning of year $27,644,874 · end of year $26,692,370

  • 3 · Pledges and grants receivable

    beginning of year $338,204 · end of year $683,287

  • 4 · Accounts receivable

    beginning of year $810,747 · end of year $769,603

  • 8 · Inventories for sale or use

    beginning of year $455,944 · end of year $498,114

  • 9 · Prepaid expenses and deferred charges

    beginning of year $395,384 · end of year $680,876

  • 10a · Land, buildings and equipment: cost or other basis

    $195,412,249

  • 10b · Land, buildings and equipment: accumulated depreciation

    $137,596,666

  • 10c · Land, buildings and equipment, net

    beginning of year $56,732,206 · end of year $57,815,583

  • 11 · Investments: publicly traded securities

    beginning of year $78,993,897 · end of year $92,449,774

  • 12 · Investments: other securities

    beginning of year $57,310,161 · end of year $62,252,138

  • 13 · Investments: program-related

    beginning of year $546,989 · end of year $333,067

  • 15 · Other assets

    beginning of year $5,654,346 · end of year $5,586,889

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,509,107 · end of year $11,198,040

  • 19 · Deferred revenue

    beginning of year $2,459,003 · end of year $2,643,514

  • 20 · Tax-exempt bond liabilities

    beginning of year $33,856,089 · end of year $31,219,230

  • 23 · Secured mortgages and notes payable

    beginning of year $4,222,164 · end of year $3,707,572

  • 25 · Other liabilities

    beginning of year $3,852,546 · end of year $510,165

  • 27 · Net assets without donor restrictions

    beginning of year $57,396,000 · end of year $60,929,992

  • 28 · Net assets with donor restrictions

    beginning of year $119,599,900 · end of year $137,581,900

Mission and programs · 2023

Mission

MCDANIEL COLLEGE IS A DIVERSE STUDENT-CENTERED COMMUNITY COMMITTED TO EXCELLENCE IN THE LIBERAL ARTS & SCIENCES AND PROFESSIONAL STUDIES WITH CAREFUL MENTORING AND ATTENTION TO THE INDIVIDUAL, MCDANIEL CHANGES LIVES. WE CHALLENGE STUDENTS TO DEVELOP THEIR UNIQUE POTENTIAL WITH REASON, IMAGINATION, AND HUMAN CONCERN, THROUGH FLEXIBLE ACADEMIC PROGRAMS, COLLABORATIVE AND EXPERIENTIAL LEARNING, AND GLOBAL ENGAGEMENT, MCDANIEL PREPARES STUDENTS FOR SUCCESSFUL LIVES OF LEADERSHIP, SERVICE, AND SOCIAL RESPONSIBILITY,

Activities or mission (Part I)

STUDENTS ARE THE FOCUS AT MCDANIEL AND PROVIDING THE IDEAL LEARNING ENVIRONMENT IS OUR GOAL.

  • UNDERGRADUATE PROGRAM OF STUDY: 1,601 FULL TIME STUDENT EQUIVALENCY.MCDANIEL COLLEGE HAS A LONG HISTORY AS A SMALL PRIVATE COLLEGE OF THE LIBERAL ARTS, MCDANIEL OFFERS COURSES OF STUDY IN MORE THAN 70 AREAS, INCLUDING PRE-PROFESSIONAL PROGRAMS, TEACHING CERTIFICATION, AND OFF-CAMPUS PROGRAMS. STUDENTS MAY PURSUE TRADITIONAL, DUAL, OR DOUBLE MAJORS, OR DESIGN THEIR OWN COURSE OF STUDY.THE AVERAGE CLASS SIZE IS 17 STUDENTS; THE STUDENT-FACULTY RATIO IS 13:1, MCDANIEL HAS 124 FULL-TIME FACULTY; 94 PERCENT HOLD TERMINAL DEGREES IN THEIR DISCIPLINES, ALL COURSES AND LABORATORIES ARE TAUGHT BY REGULAR FACULTY MEMBERS, NOT TEACHING ASSISTANTS, THE COLLEGE OFFERS COUNTLESS OPPORTUNITIES FOR OFF-CAMPUS STUDY BOTH WITHIN THE UNITED STATES AND OVERSEAS, AMONG THEM: STUDY IN BUDAPEST, HUNGARY THROUGH AN AGREEMENT WITH COLLEGE INTERNATIONAL WHICH FOLLOWS MCDANIEL'S CURRICULUM.MCDANIEL IS ACCREDITED BY THE COMMISSION ON HIGHER EDUCATION OF THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS.

    Expenses $92,194,618 · Grants $45,472,035 · Revenue $79,932,329

  • AUXILARY SERVICES: DINING HALL SERVICES FOR 1,217 STUDENTS AND RESIDENCE HALL SERVICES FOR 1,318 STUDENTS.RESIDENCE HALL - AT MCDANIEL, FIRST, SECOND AND THIRD YEAR STUDENTS ALL LIVE ON CAMPUS, IN FACT, ALL STUDENTS ARE GUARANTEED HOUSING FOR ALL FOUR YEARS, EXCEPTIONS TO THE RESIDENCY REQUIREMENTS ARE MADE FOR THOSE WHO LIVE NEARBY WITH THEIR PARENTS, ARE MARRIED, OR ARE OVER AGE 24 OR PART TIME.YOU'LL FIND A RANGE OF OPTIONS, INCLUDING CLASSIC DORM STYLE ARRANGEMENTS AND APARTMENT SUITES, STAFFED BY FRIENDLY AND CAPABLE RESIDENT ASSISTANTS, WHO ARE SUPERVISED BY PROFESSIONAL STAFF, ALL RESIDENCES ARE WIRED FOR CABLE AND THE INTERNET.DINING HALL - AT MCDANIEL, STUDENTS HAVE A WIDE RANGE OF DINING CHOICES, CHOSEN FROM A VARIETY OF MEAL PLANS DESIGNED FOR DORM, APARTMENT, OR COMMUTER STUDENT LIVING, ALL DINING LOCATIONS ARE WITHIN WALKING DISTANCE AND OFFER EXTENSIVE HOURS.

    Expenses $19,668,185 · Grants $8,765,178 · Revenue $17,669,636

  • GRADUATE PROGRAM OF STUDY - FULL TIME STUDENT EQUIVALENCY 928.THE MISSION OF GRADUATE AND PROFESSIONAL STUDIES IS TO PREPARE CULTURALLY COMPETENT PROFESSIONALS COMMITTED TO LEADERSHIP IN THEIR FIELD, STUDENTS ARE PLACED IN THE CENTER OF A COMMUNITY RICH IN THE LIBERAL ARTS TRADITION, AN EMPHASIS ON THE FOUNDATION OF KNOWLEDGE ANDCRITICAL DECISION MAKING BASED ON CURRENT RESEARCH, THEORY AND PRACTICE ARE CENTRAL TO THE VARIOUS PROGRAMS.TWO GRADUATE DEGREES ARE GRANTED BY MCDANIEL COLLEGE: THE MASTER OF LIBERAL ARTS, AND THE MASTER OF SCIENCE. MCDANIEL COLLEGE IS ACCREDITED BY THE COMMISSION ON HIGHER EDUCATION OF THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS. THE SCHOOL IS ALSO ACCREDITED BY THE AMERICAN CHEMICAL SOCIETY, COUNCIL ON SOCIAL WORK EDUCATION, NATIONAL COUNCIL FOR ACCREDITATION OF TEACHER EDUCATION AND THE MARYLAND STATE DEPARTMENT OF EDUCATION.MCDANIEL COLLEGE GRADUATE AND PROFESSIONAL STUDIES DOES MORE THAN PREPARE TEACHERS, ADMINISTRATORS, COUNSELORS, AND A HOST OF EDUCATIONAL SPECIALISTS. AT MCDANIEL, YOU WILL FIND PROFESSIONAL PROGRAMS IN EXERCISE SCIENCE, GERONTOLOGY, AND HUMAN RESOURCE MANAGEMENT.

    Expenses $11,063,354 · Grants $547,823 · Revenue $9,220,495

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BRUCE H PRESTON

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARY LYNN DURHAM

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES BOEHLKE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM BUTZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARK CARTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RANDALL M DAY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES FRANCIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RALPH O FRITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DARRELL T GUYTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTIN KP HILL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SAM HOPKINS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVEN D KESLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KAREN LAMONT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KEITH LAWSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES E LIGHTNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JULIE LUCAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MILLARD MAZER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JILL MENNICKEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALBERT J MEZZANOTTE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VIRGINIA MILLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHARLES E MOORE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID MOSKOWITZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER C NEWMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WALTER OLSON

    TRUSTEE (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • BOB PICK

    TRUSTEE (AS OF 5/24)

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM RODGERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DEBBIE SEIDEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BARBARA SHELTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • AARON SLAUGHTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUE STEVENSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PATRICK STOKES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BARBARA A THOMAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANNE VOSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES H YATES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CARROLL L YINGLING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ERIC DEZENHALL

    TRUSTEE (UNTIL 12/23)

    Total calculated
    $0
    Hours/week
    1

  • JULIANNE JASKEN

    PRESIDENT

    Total calculated
    $470,765
    From this org
    $400,886
    From related orgs
    $0
    Other
    $69,879
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,886
    Bonus
    $0
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $53,379
    Filer's total
    $470,765

  • ERIC SIMON

    VP ADMIN & FINANCE

    Total calculated
    $264,549
    From this org
    $242,260
    From related orgs
    $0
    Other
    $22,289
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,260
    Bonus
    $0
    Other
    $0
    Deferred
    $12,409
    Nontaxable benefits
    $9,880
    Filer's total
    $264,549

  • JULIE FISHER

    TREASURER

    Total calculated
    $153,766
    From this org
    $126,366
    From related orgs
    $0
    Other
    $27,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,366
    Bonus
    $0
    Other
    $0
    Deferred
    $5,485
    Nontaxable benefits
    $21,915
    Filer's total
    $153,766

  • ANDREW CUNNINGHAM

    ASSISTANT TREASURER

    Total calculated
    $96,876
    From this org
    $75,444
    From related orgs
    $0
    Other
    $21,432
    Hours/week
    40

  • ERIN BENEVENTO

    SECRETARY

    Total calculated
    $94,598
    From this org
    $81,498
    From related orgs
    $0
    Other
    $13,100
    Hours/week
    40

  • ANDREA PHILLIPS

    ASSISTANT SECRETARY

    Total calculated
    $52,248
    From this org
    $52,121
    From related orgs
    $0
    Other
    $127
    Hours/week
    40

  • JANELLE HOLMBOE

    VP ENROLLMENT MANAGEMENT

    Total calculated
    $277,762
    From this org
    $238,211
    From related orgs
    $0
    Other
    $39,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,211
    Bonus
    $0
    Other
    $0
    Deferred
    $12,644
    Nontaxable benefits
    $26,907
    Filer's total
    $277,762

  • WENDY MORRIS

    PROVOST

    Total calculated
    $177,807
    From this org
    $156,107
    From related orgs
    $0
    Other
    $21,700
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,107
    Bonus
    $0
    Other
    $0
    Deferred
    $8,183
    Nontaxable benefits
    $13,517
    Filer's total
    $177,807

  • VICKIE MAZER

    DEAN OF GRADUATE & PROF STUDIES

    Total calculated
    $191,848
    From this org
    $173,721
    From related orgs
    $0
    Other
    $18,127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,721
    Bonus
    $0
    Other
    $0
    Deferred
    $8,750
    Nontaxable benefits
    $9,377
    Filer's total
    $191,848

  • DAVE SEARS

    VP INSTITUTIONAL ADVANCEMENT

    Total calculated
    $277,071
    From this org
    $237,516
    From related orgs
    $0
    Other
    $39,555
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,516
    Bonus
    $0
    Other
    $0
    Deferred
    $12,450
    Nontaxable benefits
    $27,105
    Filer's total
    $277,071

  • LAWRENCE JUNKIN

    SENIOR AVP OF IA

    Total calculated
    $188,738
    From this org
    $171,484
    From related orgs
    $0
    Other
    $17,254
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,484
    Bonus
    $0
    Other
    $0
    Deferred
    $8,817
    Nontaxable benefits
    $8,437
    Filer's total
    $188,738

  • CAROLYN HOJNOWSKI

    AVP OF DEVELOPMENT

    Total calculated
    $177,400
    From this org
    $147,960
    From related orgs
    $0
    Other
    $29,440
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,960
    Bonus
    $0
    Other
    $0
    Deferred
    $7,694
    Nontaxable benefits
    $21,746
    Filer's total
    $177,400

  • KEVIN MCINTYRE

    PROF. OF ECON. & BUSINESS ADMIN.

    Total calculated
    $207,877
    From this org
    $188,549
    From related orgs
    $0
    Other
    $19,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,549
    Bonus
    $0
    Other
    $0
    Deferred
    $5,842
    Nontaxable benefits
    $13,486
    Filer's total
    $207,877

  • MATTHEW RAMSEY

    GRAD. CHAIR & HUMAN SVCS COORD.

    Total calculated
    $194,746
    From this org
    $176,495
    From related orgs
    $0
    Other
    $18,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,495
    Bonus
    $0
    Other
    $0
    Deferred
    $8,398
    Nontaxable benefits
    $9,853
    Filer's total
    $194,746

  • CHRISTINE MORAN

    AVP STUDENT SUCCESS

    Total calculated
    $192,090
    From this org
    $157,419
    From related orgs
    $0
    Other
    $34,671
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,419
    Bonus
    $0
    Other
    $0
    Deferred
    $8,046
    Nontaxable benefits
    $26,625
    Filer's total
    $192,090

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
PRESIDENT JULIANNE JASKEN IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF HER EMPLOYMENT. THE HOUSING IS PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER AND THE LODGING IS FURNISHED ON THE COLLEGE CAMPUS. THE VALUE OF THE HOUSING ALLOWANCE WAS $24,000. THIS AMOUNT HAS NOT BEEN INCLUDED IN THE EMPLOYEE TAXABLE COMPENSATION. THE ABOVE HOUSING ALLOWANCE IS PART OF THE EMPLOYEE'S EMPLOYMENT CONTRACT AND IS THUS NOT SUBJECT TO SUBSTANTIATION REQUIREMENTS.
PART I, LINE 4B
THE PRESIDENT, JULIANNE JASKEN, AND VP OF ADMINISTRATION AND FINANCE, ERIC SIMON, ARE PARTICIPANTS IN A NON-QUALIFIED PLAN. THEY CONTRIBUTED $33,997.53 AND $2,600, RESPECTIVELY, TO THE PLAN DURING THE FISCAL YEAR. THESE ARE EMPLOYEE CONTRIBUTIONS TO THE PLAN, NO CONTRIBUTIONS WERE MADE BY THE COLLEGE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WMC DEVELOPMENT CORPORATION

    C · REAL ESTATE LAND LESSOR · MD · 100% owned · share of income $33,966 · share of assets $4,610,635 · controlled entity

    Directly controlled by MCDANIEL COLLEGE

  • WMC DEVELOPMENT LAND HOLDING CORPORATION

    C · LAND HOLDING COMPANY · MD · 100% owned · share of income $32,586 · share of assets $462,810 · controlled entity

    Directly controlled by WMC DEVELOPMENT CORPORATION

  • CHARITABLE REMAINDER TRUST (4)

    T · INVESTMENT TRUST · MD

Provenance

Return type
form_990
Tax year
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202520449349300922

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