2024-11-11T11:09:46-07:00 2024-06-30 990 2023-07-01 042632526 ELDERHOSTEL INC ELDE 6174267788 PO Box 56033 Boston MA 022056033 Lowell Partridge CFO and Assistant Treasurer 6174267788 2024-11-11 1 2023 2024-10-15 13:58:12Z ROAD SCHOLAR Lowell Partridge PO Box 56033 Boston MA 022056033 421802357 0 X www.roadscholar.org X 1975 MA Elderhostel Inc., doing business as Road Scholar, sponsors, arranges or conducts educational programs around the world primarily for adults age 55 and older. 13 13 544 150 12589760 10171524 8060314 2892923 320898862 360062625 3927188 7452289 12053712 13301766 344940076 383709603 61108 118469 0 0 36942780 45976551 0 0 842634 270043409 298030739 307047297 344125759 37892779 39583844 229991445 300003397 164321320 184786870 65670125 115216527 X Elderhostel, Inc., which operates under the name Road Scholar, is a not-for-profit organization founded in 1975 and incorporated in 1977 for the purpose of sponsoring, arranging or conducting educational programs primarily for adults age 55 and older. Its mission is to inspire adults to learn, discover and travel. Road Scholar's learning adventures engage expert instructors, (Continued on Schedule O) 0 0 148717490 7448 211784666 Road Scholar's unique non ship-based educational programs held outside the United States (ranging in length from one to six weeks or more for on-site programs, and one to five days for web-based programs) provide a stimulating academic experience introducing participants to the arts, history, literature, culture, architecture and natural environment of their locations. They are designed to further cross-cultural understanding by forging direct connections between participants and local residents, experts and lecturers. Community service and multi-generational programs are also offered. Room, board and in most cases airfare are included in the cost of on-site programs. In fiscal year 2024, 40,503 enrollees participated in on-site programs, and 19,707 enrollees participated in web-based programs and lectures. 87769618 111021 107909593 Road Scholar's unique non ship-based educational programs in the United States (ranging in length from four days to three weeks for on-site programs, and one to five days for web-based programs and lectures), provide a stimulating academic experience exploring the arts, literature, sciences, history, culture, and environment of the United States. Some programs provide community service and others are designed to be multi-generational, allowing grandchildren, or adult children and their children, to attend. Room and board are included in the cost. In fiscal year 2024, 40,674 enrollees participated in on-site programs, and 23,362 enrollees participated in web-based programs and lectures. 28638457 0 40368366 Road Scholar's Adventures Afloat programs (ranging in length from one week to four months) are ship-based learning adventures that allow participants to experience the educational wonders of broad regions connected by the world's oceans and waterways. Experts and professors provide stimulating educational programs on board, which are enhanced by field trips to experience the culture of local communities through related land components and lectures. Multi-generational programs are offered, and room and board are included in the cost, as is airfare for most programs. In fiscal year 2024, 8,207 enrollees participated in Adventures Afloat programs. 25895263 0 10388 Nearly 14 million publications, including 2.5 million catalogs were produced and mailed to over 1.4 million households on Road Scholar's mailing list. Road Scholar's website, which provides program information, had 61 million page views from over 8 million unique visitors. In FY24, over 3 billion unique visitors explored numerous media sites, publications and articles where Road Scholar was mentioned. 13725078 0 185153 Over 175 workers in the United States and internationally collaborated with over 1,200 providers and vendors to develop, operate, oversee, and evaluate 4,314 departure dates of 678 unique programs, and 188 virtual programs and lectures. 11795706 0 419066 Our 110-seat Participant Services Center handled over 290,000 inbound telephone calls and made approximately 38,000 outbound telephone calls to inquirers and enrollees that resulted in over 82,000 enrollment, cancellation, transfer and contribution transactions. They also responded to over 78,000 emails. In addition, the 55-seat Travel Services Center handled over 50,000 inbound telephone calls and made over 19,000 outbound calls to enrollees who desired assistance in making, changing or cancelling their travel flight arrangements to Road Scholar programs. This team also responded to over 8,000 emails and booked over 130,000 flight segments for enrolled participants. 51416047 0 614607 316541612 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 409 0 1 544 1 1 1 1 AS CA EI NZ UK 0 0 0 0 0 0 0 0 1 0 X 13 13 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV X X Lowell Partridge Elderhostel Inc d/b/a Road Scholar 6174575411 PO Box 56033 Boston MA 022056033 X James Moses President & CEO 40.00 0.00 X 1038882 0 53055 Eric Bird Chief Operating Officer 40 0 X 438445 0 37313 Lowell Partridge Ass't Treasurer & CFO 40 0 X 418811 0 45299 Maeve Hartney Chief Programs Officer 40 0 X 375755 0 58225 Mary Marks Chief Tuition Officer 40 0 X 374846 0 54550 Stephen August VP, Marketing 40 0 X 339211 0 52985 Joseph LoDato VP, Human Resources 40 0 X 282870 0 55035 John McCarthy Chief Information Officer 40 0 X 289166 0 29613 Christopher Heppner VP, Communications 40 0 X 253359 0 50625 Stuart Burke VP, Program Accounting 40 0 X 272627 0 28936 Alexander Toth Ass't Clerk 40 0 X 130345 0 13347 Rachel Louis Hamilton Clerk 30.00 0 X 126839 0 12960 Judith Allen Ferretti Chair (thru 06/24), Vice Chair (eff 06/24) & Director 4 0 X X 0 0 0 Ralph Fuccillo Chair & Director (eff 06/24) 4 0 X X 0 0 0 Ward William Dunn Jr Vice Chair (thru 6/24) & Director 2.00 0 X X 0 0 0 George Moose Vice Chair (thru 06/24) & Director 2 0 X X 0 0 0 Sharon M Matthews Vice Chair & Director (eff 06/24) 2 0 X X 0 0 0 Sandra Willen Treasurer & Director 3 0 X X 0 0 0 Michael Crotty Director 1 0 X 0 0 0 Jennifer Elizabeth Main Director (eff 06/24) 1 0 X 0 0 0 Paul Nelson Director (eff 05/24) 1 0 X 0 0 0 Susan D Page Director 1 0 X 0 0 0 Jane Reardon Director 1 0 X 0 0 0 Kate Walker Director (eff 05/24) 1 0 X 0 0 0 Morrison DeSoto Webb Director 1 0 X 0 0 0 4341156 0 491943 73 0 1 0 Holbrook Travel Inc 3540 NW 13th St Gainesville FL 32609 Arrange & conduct edu pgms 19820275 Ontario Limited 4 Cataraqui St Kingston ON CA K7K 1Z7 Arrange & conduct edu pgms 11717752 Center for Educational Advn 106 Plantation Ridge Drive Americus GA 31709 Arrange & conduct edu pgms 7587732 Trustees of Trinity College 300 Summitt Street 86-88 Vernon Hartford CT 06106 Arrange & conduct edu pgms 7573611 Northern Arizona University PO Box 5604 Flagstaff AZ 86011 Arrange & conduct edu pgms 5790122 239 0 0 0 0 0 2892923 18979 2892923 International program revenue 611600 211784666 211784666 0 0 Domestic program revenue 611600 107909593 107909593 0 0 Adventures afloat program revenue 611600 40368366 40368366 0 0 0 0 0 0 360062625 7122236 0 0 7122236 0 0 0 0 -87169 0 0 -87169 184568 0 0 0 184568 0 184568 0 0 184568 38422807 0 38077480 15274 345327 -15274 330053 0 0 330053 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Trip protection fees/premium 520000 12236885 0 12236885 0 Marketing support 900099 322131 0 322131 0 Retail store commission 459999 30744 0 30744 0 614607 614607 0 0 13204367 383709603 360677232 12589760 7549688 0 0 118469 118469 0 0 0 0 3543111 479405 3050753 12953 0 0 0 0 33591025 24350864 8883738 356423 2426287 1640818 752227 33242 4078878 2561169 1472108 45601 2337250 1482082 828740 26428 0 0 0 0 89291 12065 77226 0 97138 0 97138 0 0 0 0 0 0 0 302099 0 302099 0 3636257 2900433 687734 48090 8660502 8660502 0 0 705440 305617 366228 33595 5097998 1099153 3984995 13850 0 0 0 0 687815 594117 88110 5588 800373 394494 389404 16475 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1082443 421348 653253 7842 2132143 1749823 382320 0 Payments to program providers and vendors 244897651 244897651 0 0 Credit card and bank fees 10337634 9414046 888392 35196 Printing, postage and mailing 9719044 9511268 28628 179148 Unrelated business income taxes 3029903 0 3029903 0 6755008 5948288 778517 28203 344125759 316541612 26741513 842634 2752414 2549561 78915957 95835996 0 0 5870650 1101055 0 0 0 0 0 0 0 0 22889581 28181991 26289834 21720736 3370965 4569098 112895993 164106334 3295885 3659362 0 0 0 0 0 0 229991445 300003397 15137389 17661892 0 0 146149820 161339721 0 0 0 0 0 0 0 0 0 0 3034111 5785257 164321320 184786870 X 61462208 110591594 4207917 4624933 65670125 115216527 229991445 300003397 X 39583844 12239661 0 0 0 -2277103 X 0 1 X 1 0 X 3370247 6076680 4238585 8060314 2892923 24638749 252206397 3269945 149017413 321379459 360677232 1086550446 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 255576644 9346625 153255998 329439773 363570155 1111189195 203845 79271 115726 260475 153972 813289 0 0 0 0 0 0 203845 79271 115726 260475 153972 813289 1110375906 4680822 1786137 4555178 7551433 7219635 25793205 0 56985 40600 3968458 8035504 12101547 4680822 1843122 4595778 11519891 15255139 37894752 0 0 0 0 0 0 0 0 0 0 0 0 260257466 11189747 157851776 340959664 378825294 1149083947 0.96631 0.96966 0.03298 0.02948 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 344125759 344125759 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 15000 0 0 0 15000 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 59288390 37913295 13053788 77258 1194686 3950 108979579 12732969 42198145 5573938 51363 1161418 3881 59288390 31796769 -15203880 -2369998 81030 1422352 -13460 12732969 22580083 4197000 6485284 15843 1589746 -139991 31796769 42797255 -19634023 1024810 63575 1512562 31822 22580083 0.96 0.04 0 0 0 0 0 0 0 0 0 0 0 42403 38163 4240 0 420395 406597 13798 0 25827036 21275976 4551060 4569098 0 Currency derivatives 2443032 Post employment obligations 1979035 Lease liabilities 986298 Obligations under split interest agreements 361384 Tenant security deposits 15508 5785257 X 395477871 12239661 0 0 0 12239661 383238210 302099 169294 471393 383709603 345931469 0 0 0 2107809 2107809 343823660 302099 0 302099 344125759 Schedule D, Part V, Line 1f The amounts disclosed on the "Administrative expenses" line are the changes in actuarially determined liability of split-interest agreements given by donors for endowment purposes. No administrative expenses are deducted from the endowment funds. Schedule D, Part V, Line 4 The Organization's endowment consists of 48 donor-restricted funds established to provide scholarships, grants and other support, and a Board-designated fund to provide operating support. Schedule D, Part X, Line 2 The Organization is a qualified tax-exempt organization under 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 Organization provides for income taxes in accordance with the Code on unrelated business activities, and in accordance with the regulations of countries in which it operates. Income tax expense totaled $3,042,677 for fiscal 2024 and $1,996,525 for fiscal 2023, which is included in administration expense in the accompanying statements of activities. The Organization received income tax refunds totaling $23,594 and $1,953,817 during fiscal 2024 and 2023 and paid income taxes of $2,968,129 and $1,083,558 during fiscal 2024 and 2023, respectively. Schedule D, Part XI, Line 4a Investment management fees of $302,099 are included in Financial Statement revenue net of interest and dividends but reported as a component of investment management expense on the Form 990. Schedule D, Part XI, Line 4b COVID-19 extraordinary revenue of $184,568 is netted against COVID-19 extraordinary expenses in the Financial Statement expenses but reported as a component of revenue on the Form 990. In addition, loss on disposal of fixed assets of $15,274 is included in Financial statement expenses but reported as a component of revenue on the Form 990. Schedule D, Part XII, Line 2d Change in fair value of currency of -$2,277,103 is included in Financial Statement expenses but reported as other changes in net assets on the Form 990. In addition, COVID-19 extraordinary revenue of $184,568 is netted against COVID-19 extraordinary expenses in the Financial Statement expenses but reported as a component of revenue on the Form 990. Finally, loss on disposal of fixed assets of $15,274 is included in Financial Statement expenses but reported as a component of revenue on the Form 990. Schedule D, Part XII, Line 4a Investment management fees of $302,099 are included in Financial Statement revenue net of interest and dividends but reported as a component of investment management expense on the Form 990. Europe (including Iceland and Greenland) 1 19 Program Services Educational programs 83231972 North America (including Canada and Mexico, but not the United States) 0 1 Program Services Educational programs 24610644 Central America and the Caribbean 0 0 Program Services Educational programs 17625332 South America 0 3 Program Services Educational programs 17493718 East Asia and the Pacific 1 42 Program Services Educational programs 15488916 Sub-Saharan Africa 0 0 Program Services Educational programs 9477305 Middle East and North Africa 0 0 Program Services Educational programs 4405071 South Asia 0 0 Program Services Educational programs 1532891 Central America and the Caribbean Investments 3659362 2 65 177525211 1 0 1 0 0 0 Schedule F, Part I, Line 3 Expenditures are reported on an accrual basis in accordance with GAAP as reported in the financial records. 1 Financial need-based assistance 87 62308 Caregiver assistance grant 55 56161 Schedule I, Part I, Line 2 Road Scholar posts awarded scholarships and grants as credits to recipients' accounts which can be applied by recipients against the cost of Road Scholar programs in the United States and Canada. Scholarships and grants are never paid in cash and expire if they are not used. Schedule I, Part III As part of a continuing mission to ensure that its educational programs are widely accessible to older adults, Road Scholar provides scholarships on a nondiscriminatory basis to those who demonstrate financial need and grants to family caregivers who provide unpaid daily care and support for an ill or disabled family member, to offset financial barriers to attend a Road Scholar program. By increasing the economic and situational diversity of participants, scholarships and grants help enrich the Road Scholar experience for all who take part in our programs. Qualified applicants, ages 50+, are entitled to financial assistance every two years. Scholarships and grants may be up to $2,000 per award and are provided for enrollment in programs in the United States and Canada. X X X X X 0 1 0 0 0 0 0 1 0 James Moses President & CEO 668769 0 344725 0 25388 0 33000 0 20055 0 1091937 0 0 0 Eric Bird Chief Operating Officer 326538 0 109979 0 1928 0 33000 0 4313 0 475758 0 0 0 Lowell Partridge Ass't Treasurer & CFO 287175 0 107993 0 23643 0 33000 0 12299 0 464110 0 0 0 Maeve Hartney Chief Programs Officer 270577 0 104083 0 1095 0 33000 0 25225 0 433980 0 0 0 Mary Marks Chief Tuition Officer 268269 0 103852 0 2725 0 33000 0 21550 0 429396 0 0 0 Stephen August VP, Marketing 214962 0 100771 0 23478 0 33000 0 19985 0 392196 0 0 0 Joseph LoDato VP, Human Resources 231538 0 50000 0 1331 0 28154 0 26881 0 337904 0 0 0 John McCarthy Chief Information Officer 237462 0 50000 0 1704 0 28585 0 1028 0 318779 0 0 0 Christopher Heppner VP, Communications 202788 0 50000 0 571 0 24803 0 25822 0 303984 0 0 0 Stuart Burke VP, Program Accounting 220154 0 50000 0 2473 0 26911 0 2025 0 301563 0 0 0 Schedule J, Part I, Line 4 In July 2022, Road Scholar established a non-qualified deferred compensation plan under Internal Revenue Code Section 457(f) for the CFO. The Plan is subject to certain vesting requirements. The amount funded in 2022 is scheduled to vest in 2025. Schedule J, Part I, Line 7 The Board and the President authorized and the Organization paid variable compensation to regular (non-seasonal) employees in 2023. Amounts were determined by role and compensation earned during 2023. Schedule J, Part II In the event of termination of employment other than for cause, Road Scholar will continue to pay the President's base salary for 24 months from date of involuntary termination and conditioned upon signing a release of claims within 21 days. In the event of voluntary termination of employment, Road Scholar will retain the President's services as a consultant for a period of two years or longer, at the discretion of the Board. In no event will consultation hours exceed 20/week or 40/month. Form 990, Part III (Cont. 1) provide extraordinary access, and stimulate discourse and friendship among people who value lifelong learning. The Organization sponsors educational programs throughout the United States and 90 other countries. The Organization publishes comprehensive program catalogs, provides extensive information on the Web about every program offered, and provides a registration system to match interested participants with available programs. During fiscal 2024, the Organization operated 4,314 on-site programs attended by 89,384 participants, 45 multi-day, on-line programs attended by 1,146 participants, and 143 on-line lectures attended by 41,923 participants. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the CFO, President/CEO, tax advisors from the national accounting firm of Grant Thornton Advisors LLC, the Audit Committee and the Board of Directors before it is filed. Changes from any of these reviews are incorporated before the 990 is reviewed at the next level and ultimately filed. Form 990, Part VI, Section B, Line 12c Road Scholar has a Conflict of Interest Policy to govern arrangements and activities between the Organization, and Road Scholar's Board of Directors, officers, senior staff, management employees and other "Interested Persons" as defined in the policy. This policy defines and identifies possible conflicts of interest, details the duty to disclose conflicts, and establishes procedures for addressing any conflict, including the recusal of directors, officers or employees from decisions regarding their potential conflict. Annually, all directors, officers, senior staff and management employees sign a statement that affirms their understanding of the policy and discloses any potential conflicts of interest. All disclosed potential conflicts are reviewed by the CEO with the Executive Committee of the Board of Directors for awareness and if necessary, for additional actions. Form 990, Part VI, Section B, Line 15 The Executive Committee serves as the Compensation Committee of the Board of Directors and votes on and approves compensation for the President/CEO annually, and reviews and approves compensation as recommended by the CEO for the senior leaders who report to the CEO. The Executive Committee reviews compensation for the CEO and senior leaders against compensation data for similarly situated organizations for functionally comparable positions. The compensation review process has been conducted annually since 2002 and data is utilized from a number of sources including compensation surveys, Forms 990 and an independent compensation consultant. The deliberation and decisions regarding compensation arrangements are contemporaneously documented and recorded in the minutes of the Executive Committee and the results are presented to the full Board. Form 990, Part VI, Section C, Line 19 Road Scholar provides its governing documents, Conflict of Interest Policy and Audited Financial Statements upon request in either print or electronic form. Form 990, Part VII, Section B, Line 1(A) The top five independent contractors reported on the Form 990 are program providers and vendors. Payments to these entities are shown on a gross basis for calendar year 2023. A substantial portion of those payments is for costs incurred in arranging and conducting Road Scholar programs including accommodations, transportation, and meals for program participants, which cannot be easily segregated. The top five independent contractors that are not program providers or vendors are as follows: Perficient, Inc. (software development) - $1,944,136; ROI Solutions, LLC (Call center outsourcing) - $1,477,756; Fry Communications, Inc. (Produce and mail catalogs and brochures) - $737,875; DS Graphics, Inc. (Produce and mail catalogs and brochures) - $684,691; and TTEC Digital, LLC (Digital media and marketing services) - $664,897. Form 990, Part XI, Line 9 Change in fair value of currency derivatives totaled -$2,277,103.