2024-04-11T17:06:26-05:00 2023-05-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2022-06-01 042105776 ASSUMPTION UNIVERSITY ASSU 5087677000 500 SALISBURY STREET WORCESTER MA 016091296 PETER WELLS TREASURER, VP FINANCE & ADMIN. 5087677000 2024-04-11 1 PETER WELLS 999009999 0 KRISTIN ANDERSON P01231300 6179129000 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z GREGORY WEINER 500 SALISBURY STREET WORCESTER MA 016091296 123258461 0 X WWW.ASSUMPTION.EDU X 1904 MA HIGHER EDUCATION OF MEN AND WOMEN. ASSUMPTION UNIVERSITY STRIVES TO FORM GRADUATES KNOWN FOR CRITICAL INTELLIGENCE, THOUGHTFUL CITIZENSHIP AND COMPASSIONATE SERVICE. 23 23 1107 75 28401 24661 19897034 8062333 110374241 103836251 7930508 3141912 1580174 1867336 139781957 116907832 55571508 51014359 0 0 39898158 41212373 105363 17979 1366836 30270858 29750820 125845887 121995531 13936070 -5087699 249199201 237826109 50990313 47624036 198208888 190202073 X ASSUMPTION UNIVERSITY IS A COMPREHENSIVE, CATHOLIC LIBERAL ARTS INSTITUTION SPONSORED BY THE AUGUSTINIANS OF THE ASSUMPTION. WE AWAKEN IN STUDENTS A SENSE OF WONDER, DISCOVERY, AND PURPOSE, FORMING GRADUATES KNOWN FOR THEIR INTELLECTUAL SERIOUSNESS, THOUGHTFUL CITIZENSHIP, AND DEVOTION TO THE COMMON GOOD. OUR CURRICULAR AND CO-CURRICULAR PROGRAMS PROVIDE STUDENTS WITH AN EDUCATION THAT SHAPES THEIR SOULS, FORMS THEM INTELLECTUALLY, AND PREPARES THEM FOR MEANINGFUL CAREERS. WE ARE A DIVERSE COMMUNITY THAT WELCOMES DIFFERENT POINTS OF VIEW AND EMBRACES ALL WHO SHARE OUR MISSION. ENLIVENED BY THE CATHOLIC AFFIRMATION OF THE HARMONY OF FAITH AND REASON, AND BY THE PURSUIT OF THE TRUTH IN THE COMPANY OF FRIENDS, AN ASSUMPTION EDUCATION TRANSFORMS THE MIND AND HEARTS OF STUDENTS. 0 0 98605896 51014359 85675905 HIGHER EDUCATION: PROVIDES COLLEGE DEGREE PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVEL. THE UNIVERSITY AWARDED 450 UNDERGRADUATE DEGREES AND 148 GRADUATE DEGREES AT ITS 2023 COMMENCEMENT. 9528649 12834919 AUXILIARY ENTERPRISES: PROVIDED ON CAMPUS HOUSING TO APPROXIMATELY 1,800 STUDENTS. 6987356 7164362 AUXILIARY ENTERPRISES: PROVIDED BOARD, BOOKS, ETC. TO APPROXIMATELY 2,000 STUDENTS. 115121901 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 170 0 1 1107 1 1 1 1 IT 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X PETER WELLS 5087677000 500 SALISBURY STREET WORCESTER MA 016091296 FRANCESCO CESAREO PRESIDENT (THRU 6/30/22) 40.00 X X 662266 0 69762 SUZANNE M BESNIA ESQ TRUSTEE (AS OF 10/1/22) 2.00 X 0 0 0 RICHARD P BURKE JR TRUSTEE 2.00 X 0 0 0 SHARON BROVELLI TRUSTEE 2.00 X 0 0 0 CARL M CAFARO TRUSTEE 2.00 X 0 0 0 REV ALEX A CASTRO AA TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 MAJ GENERAL ROBERT G CATALANOTTI, TRUSTEE 2.00 X 0 0 0 RICHARD J CATRAMBONE TRUSTEE 2.00 X 0 0 0 CAROLYN M CLANCY TRUSTEE 2.00 X 0 0 0 EDDA COLON-IRIZZARY TRUSTEE 2.00 X 0 0 0 REV JOHN L FRANCK AA TRUSTEE 2.00 X 0 0 0 CHRISTINA GRAZIANO ESQ TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 MICHEAL J KELLY PHD TRUSTEE 2.00 X 0 0 0 JAMES KRUKONES TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 FR RICHARD LAMOUREUX TRUSTEE (AS OF 5/6/23) 2.00 X 0 0 0 EMMANUEL LARBI TRUSTEE 2.00 X 0 0 0 REV VINCENT LECLERCQ AA TRUSTEE 2.00 X 0 0 0 HARRIS MACNEILL TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 CHRISTINE C MARCKS TRUSTEE 2.00 X 0 0 0 LILLIAM MILLER TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 REV MARCEL POIRIER AA TRUSTEE 2.00 X 0 0 0 REV PETER R PRECOURT AA TRUSTEE 2.00 X 0 0 0 REV EDWARD SHATOV AA TRUSTEE 2.00 X 0 0 0 STEPHEN T SKOLY JR DMD TRUSTEE 2.00 X 0 0 0 JOSEPH SPILLANE TRUSTEE (THRU 5/6/23) 2.00 X 0 0 0 SR CLARE TERESA TJADER RA TRUSTEE 2.00 X 0 0 0 ANDREW S VIENS TRUSTEE 2.00 X 0 0 0 JON WEAVER TRUSTEE 2.00 X 0 0 0 CANDACE A RACE CHAIR OF THE BOARD (AS OF 5/6/23) 2.00 X X 0 0 0 FRANCIS BEDARD CHAIR OF THE BOARD (THRU 5/6/23) 2.00 X X 0 0 0 FR CHI AI NGUYEN VICE CHAIR, TRUSTEE (AS OF 5/6/23) 2.00 X X 0 0 0 REV DENNIS M GALLAGHER VICE CHAIR, TRUSTEE (THRU 5/6/23) 2.00 X X 0 0 0 GREG S WEINER PHD INTERIM PRES., PRESIDENT (AS OF 10/17/22) 40.00 X 370014 0 61253 PETER D WELLS MBA CPA TREASURER, VP FINANCE & ADMIN 40.00 X 244409 0 62810 CONWAY CAMPBELL SR EDD VICE PRESIDENT OF STUDENT SUCCESS 40.00 X 176505 0 54837 WILLIAM BOFFI VP OF ENROLLMENT MANAGEMENT 40.00 X 167479 0 46572 PAUL DOUILLARD INTERIM PROVOST 40.00 X 150062 0 11096 MELANIE DEMARAIS INTERIM VP OF ADVMT (THRU 4/30/23) 40.00 X 125405 0 27546 DEBORAH CADY MELZER VP OF STUDENT AFFAIRS (THRU 8/31/22) 40.00 X 105996 0 40074 MICHAEL RUBINO SEC OF THE BOARD, GENERAL COUNSEL & VP STRATEGY 40.00 X 94844 0 47097 LINDA ROSENLUND INTERIM VP OF ADVMT (THRU 8/31/22) 40.00 X 76752 0 14877 JILL WIERBICKI VP FOR INST. ADVANC. (AS OF 4/17/23) 40.00 X 0 0 0 LAURA PENA PANTANO VP OF STUDENT AFFS. (AS OF 3/27/23) 40.00 X 0 0 0 JOSEPH FOLEY PROFESSOR (THRU 5/31/2022) 40.00 X 273473 0 13114 RAYMOND ALBERT DIRECTOR 40.00 X 201783 0 34005 ROBERT AMRIEN ASSISTANT PROFESSOR (THRU 1/18/2023) 40.00 X 181595 0 14719 CAITLIN STOVER DEAN 40.00 X 178937 0 16013 CHRISTOPHER FERREIRA DEAN 40.00 X 139067 0 33371 3148587 0 547146 40 0 1 0 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 DINING AND FACILITIES SERVICES 6987357 DYNAMIC CAMPUS SOLUTIONS 2806 FLINTROCK TRACE STE A205 AUSTIN TX 78738 INFORMATION TECH SERVICES 2405142 JJBAFARO INC PO BOX 943 WORCESTER MA 01613 CONSTRUCTION 471912 3 ENROLLMENT MARKETING 352 MAIN ST ONEONTA NY 13820 ENROLLMENT AND MARKETING 460785 SETTER ADVERTISING 73 FAIRWAY CIRCLE NATICK MA 01760 MARKETING 365028 16 6242661 1819672 676960 8062333 TUITION AND FEES 611310 85675905 85675905 AUXILIARY 611310 18160346 18131945 28401 103836251 2993053 2993053 6499488 6350629 148859 148859 148859 ATHLETIC PROGRAMS 611310 929716 929716 EXTRACURRICULAR ACTIVITIES 611310 278719 278719 GLOBAL INITIATIVE PROGRAM 611310 166950 166950 491951 491951 1867336 116907832 105675186 28401 3141912 300000 300000 50714359 50714359 1667492 982445 397936 287111 28296278 25927573 2081046 287659 1739288 1513181 193061 33046 7356343 6260434 956139 139770 2152972 1873086 238980 40906 11622496 11208396 368949 45151 139905 117535 22370 128598 128598 17979 17979 124088 105475 18613 871138 678680 83325 109133 1057119 926125 129421 1573 630059 543368 69306 17385 3488302 3141935 241718 104649 1944571 1829841 69985 44745 428765 405266 20444 3055 650590 596981 36434 17175 682522 642269 36968 3285 4924829 4634377 201452 89000 1073289 1028056 42933 2300 EVENTS 1878089 1692519 169116 16454 CAPITAL CAMPAIGN 106460 106460 121995531 115121901 5506794 1366836 6255256 86795 17806561 15836595 4388433 3203880 994398 968595 513840 219526 1554136 1457252 192477733 85889176 106094342 106588557 95478820 91564695 14394794 15831439 1718621 2068775 249199201 237826109 7396438 6566604 5832769 5502573 35662870 33376707 2098236 2178152 50990313 47624036 X 148404289 143168074 49804599 47033999 198208888 190202073 249199201 237826109 X -5087699 -2873935 -45181 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1207696 X X 0 108227034 2833592 243572 1396769 7113454 102793975 101791191 19616560 -9712555 3468162 108227034 82904251 564179 22664982 998357 3343864 101791191 102942073 479172 3149005 5665999 18000000 82904251 108439232 716515 -1580936 4632738 102942073 0.59000 0.41000 0.00000 0 0 2250548 2250548 165343580 73595854 91747726 22040709 12293322 9747387 2842896 2842896 106588557 ALTERNATIVE INVESTMENTS 15831439 F 15831439 ANNUITY OBIGATIONS 513027 ASSET RETIREMENT OBLIGATION 281450 REFUNDABLE GOVERNMENT STUDENT LOANS 994613 OPERATING LEASE LIABILITY 389062 2178152 X 63274357 -2873935 -50759540 -53633475 116907832 0 116907832 71281172 0 71281172 50714359 50714359 121995531 PART III, LINE 4: ST. JOHN'S BIBLE, FR. D'ALZON STATUE, SAINT AUGUSTINE STATUE, CHRIST THE HEALER STATUE AND STAINED GLASS WINDOWS ARE LOCATED ON CAMPUS AS PART OF OUR MISSION AS A CATHOLIC INSTITUTION. IN ADDITION, THERE IS A BOOK COLLECTION FROM FR. TAVARD IN THE UNIVERSITY'S LIBRARY. PART V, LINE 4: THE INTENDED USES OF THE UNIVERSTY'S ENDOWMENT FUNDS ARE FOR FINANCIAL ASSISTANCE AND SCHOLARSHIPS FOR STUDENTS ATTENDING THE UNIVERSITY, AND FOR ADDITIONAL FACILITIES AND FACULTY DEVELOPMENT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. THE UNIVERSITY RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. THE UNIVERSITY WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS -50,714,359. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -6,273. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST -38,908. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 50,714,359. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NOTICE OF NON DISCRIMINATION POLICY IS MAILED TO EACH STUDENT. IN ADDITION NOTICES ARE POSTED ON CAMPUS BULLETIN BOARDS AND UNIVERSITY WEBSITE. THE UNIVERSITY CATALOG ALSO CONTAINS THE COMPLETE POLICY. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY IS AWARDED FEDERALLY FUNDED AID TO DISBURSE TO QUALIFIED STUDENTS. THE UNIVERSITY RECEIVED FUNDING FROM GOVERNMENTAL AGENCIES IN THE FORM OF PELL GRANTS OF $1,648,101, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT OF $471,835, FEDERAL WORK STUDY OF $232,885, DEPRATMENT OF EDUCATION OF $186,453, FEDRAL EMERGENCY MANAGEMENT AGENCY OF $2,186,189 AND OTHER FEDERAL & STATE GRANT REVENUE OF $1,517,198. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 11048866 EUROPE 1 1 PROGRAM SERVICES STUDY ABROAD CAMPUS AND PROGRAM 407944 1 1 0 0 1 1 11456810 0 11456810 1 0 1 1 0 0 PART III ACCOUNTING METHOD: X X X X X X 0 BENTZ WHALEY FLESSNER 70 XERXES AVE SOUTH MINNEAPOLIS MN 55431 POST CAMPAIGN ASSESSMENT AND PLANNING 0 0 17979 0 17979 MA 1 THE AUGUSTINIANS OF THE ASSUMPTION 330 MARKET STREET BRIGHTON MA 02135 501(C)(3) 300000 0 GENERAL PURPOSE 1 0 INSTITUTIONAL & ENDOWED GRANTS/SCHOLARSHIPS 1827 46802089 BOOK CREDIT TO STUDENT ACCOUNTS PELL 377 1648101 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 193 471835 MA AND OTHER STATE SCHOLARSHIPS 359 1307027 FEDERAL WORK STUDY 160 311033 DEPARTMENT OF EDUCATION RC GRANT 13 174274 PART I, LINE 2: THE UNIVERSITY'S FINANCIAL AID OFFICE FOLLOWS ALL REGULATIONS WHEN AWARDING GRANTS AND SCHOLARSHIPS. STUDENT'S ELIGIBILITY IS REVIEWED EACH TERM TO ENSURE COMPLIANCE WITH AWARDING INSTITUTIONAL, FEDERAL AND STATE AID WITH POLICIES AND PROCEDURES. THE UNIVERSITY ALSO FILES ANNUAL STATE GRANT YEAR END REPORTING, FISAP AND IPEDS DATA. STUDENT ELIGIBILITY IS BASED ON THEIR PER TERM STANDING AND AID IS EVALUATED BASED ON THEIR ENROLLMENT. X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 FRANCESCO CESAREO PRESIDENT (THRU 6/30/22) 246990 0 0 0 415276 0 18450 0 51312 0 732028 0 197254 0 GREG S WEINER PHD INTERIM PRES., PRESIDENT (AS OF 10/17/22) 368082 0 0 0 1932 0 20113 0 41140 0 431267 0 0 0 PETER D WELLS MBA CPA TREASURER, VP FINANCE & ADMIN 240797 0 0 0 3612 0 22345 0 40465 0 307219 0 0 0 JOSEPH FOLEY PROFESSOR (THRU 5/31/2022) 86178 0 0 0 187295 0 6534 0 6580 0 286587 0 0 0 RAYMOND ALBERT DIRECTOR 200595 0 0 0 1188 0 17819 0 16186 0 235788 0 0 0 CONWAY CAMPBELL SR EDD VICE PRESIDENT OF STUDENT SUCCESS 174959 0 0 0 1546 0 14420 0 40417 0 231342 0 0 0 WILLIAM BOFFI VP OF ENROLLMENT MANAGEMENT 164770 0 0 0 2709 0 15525 0 31047 0 214051 0 0 0 ROBERT AMRIEN ASSISTANT PROFESSOR (THRU 1/18/2023) 133931 0 0 0 47664 0 14640 0 79 0 196314 0 0 0 CAITLIN STOVER DEAN 178667 0 0 0 270 0 16013 0 0 0 194950 0 0 0 CHRISTOPHER FERREIRA DEAN 138902 0 0 0 165 0 12180 0 21191 0 172438 0 0 0 PAUL DOUILLARD INTERIM PROVOST 149135 0 0 0 927 0 11070 0 26 0 161158 0 0 0 MELANIE DEMARAIS INTERIM VP OF ADVMT (THRU 4/30/23) 123119 0 0 0 2286 0 11360 0 16186 0 152951 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDED ON-CAMPUS HOUSING TO FRANCESCO CESAREO, PRESIDENT THROUGH JUNE 30, 2022. THIS BENEFIT WAS TREATED AS NOT TAXABLE PURSUANT TO IRC SEC. 119. THE VALUE OF THE HOUSING IS INCLUDED ON FORM 990, PART VII, COLUMN F AND SCHEDULE J, PART II, COLUMN D. PRESIDENTS FRANCESCO CESAREO AND GREG WEINER RECEIVED COUNTRY CLUB MEMBERSHIP DUES WHICH WAS TREATED AS NONTAXABLE AS A WORKING CONDITION FRINGE BENEFIT UNDER IRC SECTION 132. THIS AMOUNT IS INCLUDED ON FORM 990, PART VII, COLUMN F AND SCHEDULE J, PART II, COLUMN D. THE UNIVERSITY HOLDS FUNDRAISERS AT THE COUNTRY CLUB AND THE MEMBERSHIP IS USED FOR CULTIVATING DONORS AND CAPITAL CAMPAIGN RELATED FUNCTIONS. PART I, LINES 4A-B THE FOLLOWING INDIVIDUALS LEFT THEIR POSITIONS DURING THE YEAR AND RECEIVED SEVERANCE PAYMENTS REPORTED IN PART II, COLUMN (B)(III): FRANCESCO CESAREO $215,250 JOSEPH FOLEY $186,780 ROBERT AMRIEN $47,250 FRANCESCO CESAREO, PRESIDENT THROUGH 6/30/22, PARTICIPATED IN A DEFERRED COMPENSATION PLAN UNDER SEC. 457(F). HE RECEIVED A PAYMENT FROM THIS PLAN OF $197,254 IN 2022. GREG WEINER, PRESIDENT AS OF 11/14/22, ALSO PARTICIPATED IN A DEFERRED COMPENSATION PLAN UNDER SEC. 457(F). HE DID NOT RECEIVE A PAYMENT IN 2022. A MA DEVELOPMENT FINANCE AGENCY 043431814 2014-06-06 9720000 REFUNDING 2000A ISSUE 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2016-09-30 32000000 CONSTRUCTION OF NEW BUILDING AND REDEEM A PORTION OF SERIES 2012 BONDS 0 0 0 A 5175000 9720000 75300 9644700 2000 1 0 1 1 B 3005000 32000000 138850 15000000 16861150 2018 1 0 1 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 X 93 676960 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF DONATED SECURITIES IS BASED ON THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT (VP OF FINANCE/TREASURER) REVIEWS THE FORM 990 FILING IN A DRAFT FORM AND THEN DISTRIBUTES TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DURING THE FALL OF EACH YEAR, THE SECRETARY OF THE BOARD MAILS TO ALL UNIVERSITY TRUSTEES AND OFFICERS A QUESTIONNAIRE ASKING THEM TO DISCLOSE ANY RELATED PARTY TRANSACTIONS WITH THE UNIVERSITY. A TOTAL OF SEVEN QUESTIONS ARE ASKED. THE MEMORANDUM EXPLAINS THE NECESSITY OF COMPLETING THE RELATED PARTY QUESTIONNAIRE AND EMPHASIZED THE FACT THAT THE UNIVERSITY EXPECTS A 100% RESPONSE. IN ADDITION TO THE QUESTIONNAIRE AND MEMORANDUM, THE TRUSTEES AND OFFICERS ALSO RECEIVE A TWO PAGE INSTRUCTIONAL DOCUMENT WHICH EXPLAINS IN SIMPLE TERMS WHAT A CONFLICT OF INTEREST IS AND WHY FULL DISCLOSURE OF A REAL OR PERCEIVED CONFLICT OF INTEREST IS IMPORTANT. THIS DOCUMENT ALSO INCLUDES A NUMBER OF RECOMMENDATIONS ON THE SUBJECT PUT FORTH BY THE MASSACHUSETTS ATTORNEY GENERAL. ONCE COMPLETED, THE QUESTIONNAIRES ARE RETURNED TO THE SECRETARY OF THE BOARD WHO MONITORS THEIR RESPONSE AND FOLLOWS UP WITH THOSE TRUSTEES AND OFFICERS WHO ARE TARDY IN COMPLETING AND RETURNING THEIR QUESTIONNAIRES. ANY INDIVIDUAL WHO IT IS DETERMINED HAS A CONFLICT OF INTEREST CANNOT PARTICIPATE IN THE VOTE RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION COMMITTEE MADE UP OF FOUR UNIVERSITY TRUSTEES, THE CHAIR, THE VICE CHAIR, THE CHAIR OF THE FINANCE COMMITTEE, AND THE CHAIR OF THE STUDENT EXPERIENCE COMMITTEE ESTABLISHES THE COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY ON AN ANNUAL BASIS. THE COMPENSATION COMMITTEE USES COMPARABLE DATA WHICH IS PUBLISHED ANNUALLY IN THE CHRONICLE OF HIGHER EDUCATION AND REPORTS RECEIVED FROM INDEPENDENT COMPENSATION CONSULTANTS. ADDITIONALLY THE ENTIRE BOARD CONDUCTS AN ANNUAL PERFORMANCE REVIEW OF THE PRESIDENT. OTHER OFFICERS AND KEY EMPLOYEES ARE NORMALLY REVIEWED BY THE PRESIDENT OF THE UNIVERISTY WHO MAKES AN ADJUSTMENT IN THEIR SALARY BASED ON PERFORMANCE FACTORS AND ALSO BASED ON THE CHRONICLE OF HIGHER EDUCATION. THE COMPENSATION OF THE VICE PRESIDENTS IS REVIEWED BY THE COMPENSATION COMMITTEE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FOR INTERESTED THIRD PARTIES, ALL OF THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 (PUBLIC DISCLOSURE COPY) AND FINANCIAL STATEMENTS ARE AVAILABLE ON REQUEST FROM THE SECRETARY AT ASSUMPTION UNIVERSITY (500 SALISBURY STREET, WORCESTER, MA 01609) FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FOR ALL EMPLOYEES OF THE UNIVERSITY, ALL OF THE POLICIES AND PROCEDURES INCLUDING THE WHISTLEBLOWER POLICY, CONFLICT OF INTEREST POLICY AND OTHERS ARE AVAILABLE VIA OUR INTERNAL ONLINE PORTAL SYSTEM. A COPY OF THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA CANDID (FKA GUIDESTAR) AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -6,273. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST -38,908. CHARITABLE REMAINDER TRUST (1) CHARITABLE REMAINDER TRUST MA ASSUMPTION UNIVERSITY 0 CHARITABLE REMAINDER TRUST (1) CHARITABLE REMAINDER TRUST RI ASSUMPTION UNIVERSITY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0