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ObjectId: 201421329349301572 - Submission: 2014-05-12
TIN: 04-2306054
Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
Attach to Form 990.
See separate instructions.
OMB No. 1545-0047
20
12
Open to Public Inspection
Name of the organization
The American College of Greece
Employer identification number
04-2306054
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
First-class or charter travel
Housing allowance or residence for personal use
Travel for companions
Payments for business use of personal residence
Tax idemnification and gross-up payments
Health or social club dues or initiation fees
Discretionary spending account
Personal services (e.g., maid, chauffeur, chef)
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain
....
1b
Yes
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all officers,
directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a?
.......
2
Yes
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
Compensation committee
Written employment contract
Independent compensation consultant
Compensation survey or study
Form 990 of other organizations
Approval by the board or compensation committee
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment?
................
4a
Yes
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan?
.........
4b
No
c
Participate in, or receive payment from, an equity-based compensation arrangement?
.........
4c
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization?
...........................
5a
No
b
Any related organization?
.........................
5b
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization?
...........................
6a
No
b
Any related organization?
.........................
6b
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III
............
7
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III
.............................
8
Yes
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)?
.........................
9
Yes
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2012
Page 2
Schedule J (Form 990) 2012
Page
2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees.
Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note.
The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A)
Name and Title
(B)
Breakdown of W-2 and/or 1099-MISC compensation
(C)
Retirement and other deferred compensation
(D)
Nontaxable
benefits
(E)
Total of columns
(B)(i)-(D)
(F)
Compensation
reported as deferred
in prior Form 990
(i)
Base compensation
(ii)
Bonus & incentive compensation
(iii)
Other reportable compensation
(1)
DR DAVID G HORNER
PRESIDENT
(i)
(ii)
334,864
330,495
33,138
17,062
67,500
35,833
0
387,759
431,133
0
0
(2)
Kelly Morra
Vice Pres. of Finance & CFO
(i)
(ii)
225,454
0
263
0
30,000
0
21,191
0
276,908
0
0
(3)
GEORGE TRIANTARIS
VP OF DEVELOPMENT
(i)
(ii)
187,998
0
263
0
28,500
0
14,460
0
231,221
0
0
(4)
JOHN S BAILEY
FORMER CHANCELLOR
(i)
(ii)
1,219,499
831,209
0
0
0
0
1,219,499
831,209
1,219,499
831,209
Schedule J (Form 990) 2012
Page 3
Schedule J (Form 990) 2012
Page
3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Identifier
Return Reference
Explanation
RELEVANT INFORMATION REGARDING COMPENSATION BENEFITS
PART 1, LINE 1A
DAVID HORNER RECEIVED A HOUSING ALLOWANCE DURING THE YEAR. THIS AMOUNT WAS INCLUDED IN TAXABLE COMPENSATION. LINE 3 THE SAME INDIVIDUALS SERVE ON BOTH ACG AND AUG COMPENSATION COMMITTEES. THE COMMITTEES REPRESENT EACH INDIVIDUAL ORGANIZATION. LINE 4A JOHN BAILEY, FORMER CHANCELLOR, RETIRED EFFECTIVE JULY 1, 2011. A RETIREMENT PAYMENT OF $2,102,584 WAS REPORTED AS DEFERRED COMPENSATION ON THE 2011 FORM 990. HIS 2012 W-2 REPORTED TOTAL COMPENSATION OF $2,050,708. THE DIFFERENCE BETWEEN THE W-2 AMOUNT AND WHAT WAS REPORTED AS DEFERRED LAST YEAR, WAS AN ADVANCE WHICH WAS ACTUALLY PAID TO HIM IN 2011. REPORTABLE COMPENSATION FROM AUG WAS REDUCED FOR THE DIFFERENCE. THE AMOUNT REPORTED IN SCHEDULE J, PART II, COLUMN B(III) REPRESENTS THE PAYMENT IN 2012 OF THE AMOUNT THAT WAS DEFERRED IN 2011. $831,209 OF THE RETIREMENT WAS FUNDED BY AUG, AND $1,219,499 WAS FUNDED BY ACG. DR. BAILEY SERVED CONTINUOUSLY AS PRESIDENT OF THE COLLEGE FOR NEARLY THIRTY-THREE (33) YEARS FROM SEPTEMBER 30, 1975 UNTIL JULY 1, 2008 AND, DURING THAT TIMEFRAME WAS AN EMPLOYEE OF THE COLLEGE BASED AT THE COLLEGE'S FACILITIES IN ATHENS, GREECE. HE SERVED CONTINUOUSLY AS CHANCELLOR OF THE COLLEGE FROM JULY 1, 2008 THROUGH JUNE 30, 2011, PURSUANT TO THE TERMS OF AN EMPLOYMENT AGREEMENT BETWEEN ACG AND DR. BAILEY, DATED JUNE 26, 2009 WITH THE EFFECTIVE DATE OF JULY 1, 2008 AND A TERMINATION DATE OF NO LATER THAN JUNE 30, 2011. THROUGHOUT HIS TENURE AS PRESIDENT, DR. BAILEY SERVED ACG AND AUG IN AN EXEMPLARY MANNER, DEVOTING HIS EFFORTS FOR APPROXIMATELY 33 YEARS TO THE INTERESTS AND SUCCESS OF THE COLLEGE. HE WAS INSTRUMENTAL IN THE GROWTH OF THE COLLEGE AND ITS EDUCATIONAL PROGRAMS DURING HIS TENURE AS PRESIDENT AND MADE INVALUABLE CONTRIBUTIONS TO THE COLLEGE AND ITS COMMUNITY THROUGHOUT HIS LONG-TERM SERVICE AND DEVOTION TO THE COLLEGE. IT IS CUSTOMARY FOR UNITED STATES-BASED COLLEGES AND UNIVERSITIES COMPARABLE TO THE COLLEGE TO PROVIDE RETIREMENT PLANS AND EMPLOYER CONTRIBUTIONS TO SUCH PLANS ON BEHALF OF THEIR PRESIDENTS. THE BOARDS OF TRUSTEES OF ACG AND AUG (COMBINED, THE "BOARDS") RESPECTIVELY DESIRED TO PROVIDE A RETIREMENT BENEFIT TO DR. BAILEY IN LIGHT OF HIS EXEMPLARY SERVICE AND CONTRIBUTIONS TO THE COLLEGE AND IN ACCORDANCE WITH CUSTOM AND PRACTICE AT COMPARABLE INSTITUTIONS. THE COLLEGE RETAINED THE SERVICES OF A COMPENSATION CONSULTANT, MR. RAYMOND D. COTTON, J.D., M.SC., OF ML STRATEGIES, TO RENDER AN OPINION AS TO THE REASONABLENESS OF THE AMOUNT TO BE PROVIDED TO DR. BAILEY BY ACG AND AUG FOR HIS RETIREMENT PURSUANT TO THE TERMS OF THE RETIREMENT AGREEMENT, AND MR. COTTON HAS RENDERED AN OPINION THAT THE COMPENSATION TERMS OF THE RETIREMENT AGREEMENT ARE REASONABLE. THE PARTIES NEGOTIATED THIS RETIREMENT AGREEMENT WITH THE ASSISTANCE OF THEIR OWN RESPECTIVE COUNSEL AND CONCLUDED THAT THE RETIREMENT AGREEMENT WAS FAIR AND REASONABLE. REASONABLE.
AMOUNTS REPORTED PURSUANT TO A CONTRACT SUBJECT TO INITIAL CONTRACT
PART 1, LINE 8
DR. HORNER'S INITIAL CONTRACT WAS PREPARED IN CONJUNCTION WITH YAFEE & ASSOCIATES WHO SPECIALIZE IN THE FIELD OF COMPENSATION. THE BOARD OF TRUSTEES APPROVED THE FINAL CONTRACT BASED UPON THEIR EXPERIENCES AND THE RECOMMENDATIONS OF THE CONSULTANT. THE CONTRACT WAS DRAWN UP BY THE COLLEGE'S OUTSIDE ATTORNEYS.
Schedule J (Form 990) 2012
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