2024-04-19T12:31:20-05:00 2023-06-30 135565207 KPMG LLP 550 SOUTH HOPE STREET SUITE 1500 LOS ANGELES CA 90071 990 2022-07-01 260152908 UNIVERSITY OF MASSACHUSETTS GLOBAL UMAS 9493419800 16355 LAGUNA CANYON ROAD IRVINE CA 92618 DANIEL DEVINE CHIEF OPERATING OFFICER 9493417601 2024-04-05 1 DANIEL DEVINE XXX-XX-XXXX 0 X CAREY MCKEE P01281067 2139724000 2024-04-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z UMASS GLOBAL DAVID ANDREWS 16355 LAGUNA CANYON ROAD IRVINE CA 92618 149777293 0 X WWW.UMASSGLOBAL.EDU X 2007 CA THE MISSION OF UMASS GLOBAL IS TO PROVIDE STUDENTS DYNAMIC EDUCATION BASED ON EXCELLENCE AND FLEXIBILITY THAT CREATES LASTING VALUE AND RELEVANCE FOR EVOLVING CAREERS. 11 9 1852 0 0 0 72662 828621 991412 106668190 20666 5424826 9857 26102 1094597 112947739 408354 8682681 0 0 8593142 73409457 3000 25300 25300 4636770 48117821 13641266 130235259 -12546669 -17287520 117908819 61604454 175376876 135892874 -57468057 -74288420 X THE MISSION OF UMASS GLOBAL IS TO PROVIDE STUDENTS WITH AN ACCESSIBLE INCLUSIVE, AND TRANSFORMATIVE EDUCATION BASED ON EXCELLENCE AND FLEXIBILITY, CREATING LASTING VALUE AND RELEVANCE FOR A DYNAMIC WORLD. 0 0 38646662 8682681 106668190 UMASS GLOBAL'S ONLINE PROGRAMS HAVE BEEN CONSISTENTLY RECOGNIZED BY U.S. NEWS & WORLD REPORT, SINCE IT STARTED GIVING AWARDS. U.S. NEWS & WORLD REPORT AWARDS INCLUDE, BACHELORS PROGRAMS, ONLINE GRADUATE EDUCATION PROGRAMS, AND ONLINE PROGRAMS FOR VETERANS. AS A UNIVERSITY BUILT TO THE SERVE THE MILITARY IN 1958, IT'S NO WONDER THAT UMASS GLOBAL FORMERLY BRANDMAN UNIVERSITY HAS BEEN CONSISTENTLY RECEIVING THE MILITARY FRIENDLY GOLD STAR RANKING STUDENT SERVICES: TO HELP AND INCREASE STUDENT SUCCESS, UMASS GLOBAL FROM VIQTORY, AN ORGANIZATION THAT CONNECTS THE MILITARY COMMUNITY WITH CIVILIAN OPPORTUNITY. AS A NONPROFIT UNIVERSITY DEDICATED TO STUDENT SUCCESS, THE SCHOOL IS PROUD OF THE FACT THAT 93 PERCENT OF ITS ALUMNI WOULD RECOMMEND UMASS GLOBAL TO FAMILY, FRIENDS AND/OR COLLEAGUES. UMASS GLOBAL IS REGIONALLY ACCREDITED BY, AND IS A MEMBER OF, THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES (WSCUC) SENIOR COLLEGE AND UNIVERSITY COMMISSION. ITS CALIFORNIA TEACHER TRAINING AND CREDENTIAL PROGRAMS ARE ACCREDITED BY THE CALIFORNIA COMMISSION ON TEACHER CREDENTIALING (CTC) AND PROFESSIONALLY ACCREDITED BY THE COUNCIL FOR THE ACCREDITATION OF EDUCATOR PREPARATION (CAEP). EFFECTIVE NOVEMBER 7, 2011, THE BACCALAUREATE AND DNP PROGRAMS AT UMASS GLOBAL ARE ACCREDITED BY THE COMMISSION ON COLLEGIATE NURSING EDUCATION (CCNE), AND ITS BACHELOR'S IN SOCIAL WORK DEGREE IS PROFESSIONALLY ACCREDITED BY THE COUNCIL ON SOCIAL WORK EDUCATION (CSWE). UMASS GLOBAL HAS ALSO PARTNERED WITH SEVERAL LARGE AND WELL-KNOWN CORPORATE EMPLOYERS TO PROVIDE EDUCATIONAL DEGREE PROGRAMS TO THE EMPLOYEES OF WALMART INCORPORATED, THE WALT DISNEY COMPANY, AND AAA. 11386237 0 0 ACADEMIC SUPPORT: UMASS GLOBAL PROVIDES BOTH ON GROUND AND VIRTUAL OFFICE, REGISTRATION, ETC) AND ENROLLMENT COACHING. UMASS GLOBAL'S ACADEMIC ADVISING APPROACH ALLOWS STUDENTS TO MAP OUT HIS/HER ACADEMIC PROGRAM AND FACILITATES A STUDENT'S ABILITY TO GRADUATE ON TIME. EARLY ADMISSION PROGRAMS AND ARTICULATION AGREEMENTS WITH ITS COMMUNITY COLLEGE PARTNERS, AND EXCLUSIVE SCHOLARSHIP OPPORTUNITIES OFFERED TO HUNDREDS OF ORGANIZATIONS IN ITS PREMIER PARTNER NETWORK ALSO ENSURE THAT THE STUDENT'S TIME IS MAXIMIZED FOR DEGREE COMPLETION. ACCESS TO CHAPMAN UNIVERSITY'S LEATHERBY LIBRARIES, INCLUDING BOOKS, PERIODICALS, MEDIA, ONLINE DATABASES, COURSE-BASED LIBRARY INSTRUCTION AND PERSONALIZED RESEARCH ASSISTANCE FOR STUDENTS, FACULTY AND STAFF. THE INCLUDE NINE INDIVIDUALLY NAMED LIBRARIES WITH DISTINCTIVE COLLECTIONS REPRESENTING DISCIPLINARY AREAS OF THE UNIVERSITY. THE FACILITY FEATURES 15 GROUP STUDY ROOMS, 6 MULTI-MEDIA PREVIEW ROOMS, OVER 250 COMPUTERS FOR USER ACCESS, 6 COMPUTER CLASSROOMS, A LIBRARY INSTRUCTION ROOM, AN EXTENDED-HOUR STUDY COMMONS, AND MORE THAN 600 SEATS AT TABLES, CARRELS, AND LOUNGE CHAIRS. THE LEATHERBY LIBRARIES' COLLECTION CONTAINS ABOUT 265,000 VOLUMES AND 2,000 PRINT JOURNAL TITLES, IN ADDITION TO DVDS, VIDEOS, CDS, AND OTHER RESOURCES THE RINKER LAW LIBRARY CURRENTLY CONTAINS OVER 293,000 VOLUMES, INCLUDING BOOKS, MICROFORMS, AUDIO VISUAL MATERIALS, AND SERIALS. THIS FACILITY FEATURES SEATING FOR ABOUT 300 USERS WITH ACCESS TO THE INTERNET AND TO MANY ELECTRONIC RESEARCH DATABASES. UMASS GLOBAL USES THE BLACKBOARD OUTCOMES ASSESSMENT SYSTEM, A SINGLE PLATFORM FOR TEACHING, LEARNING AND ASSESSMENT. THIS SYSTEM EXTENDS THE BLACKBOARD LEARNING MANAGEMENT SYSTEM USED FOR TEACHING AND LEARNING TO ENGAGE THE INSTITUTION'S STAKEHOLDERS IN THE ASSESSMENT PROCESS. AS A RESULT, THE INSTITUTION IS WELL POSITIONED TO TRACK STUDENT LEARNING OUTCOMES AND IMPROVE PERFORMANCE AND RETENTION. 51489960 0 0 STUDENT SERVICES: TO HELP AND INCREASE STUDENT SUCCESS, UMASS GLOBAL PROUDLY PROVIDES A CULTURE OF SUPPORT. STUDENT SERVICES OPERATIONS PROVIDES SERVICES TO ALL STUDENTS INCLUDING ACADEMIC ADVISORS, ONE STOP REPRESENTATIVES FOR FINANCIAL AID, ADDITIONAL KEY SUPPORT (ACCESSIBLE EDUCATION, MILITARY AND VETERANS AFFAIRS, CAREER COACHING, BUSINESS OFFICE, REGISTRATION, ETC) AND ENROLLMENT COACHING. UMASS GLOBAL'S ACADEMIC ADVISING APPROACH ALLOWS STUDENTS TO MAP OUT HIS/HER ACADEMIC PROGRAM AND FACILITATES A STUDENT'S ABILITY TO GRADUATE ON TIME. EARLY ADMISSION PROGRAMS AND ARTICULATION AGREEMENTS WITH ITS COMMUNITY COLLEGE PARTNERS, AND EXCLUSIVE SCHOLARSHIP OPPORTUNITIES OFFERED TO HUNDREDS OF ORGANIZATIONS IN ITS PREMIER PARTNER NETWORK ALSO ENSURE THAT THE STUDENT'S TIME IS MAXIMIZED FOR DEGREE COMPLETION. 101522859 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 114 0 1 1852 1 0 0 0 0 0 0 0 0 0 0 1 0 X 11 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA IN OK OR X DOUG RENNER 9493417601 16355 LAGUNA CANYON ROAD IRVINE CA 92618 MANNING ROB REGENT CHAIRMAN 1.00 1.00 X X 0 0 0 COWAN CAROLE REGENT 1.00 1.00 X 0 0 0 COWAN MO REGENT 1.00 1.00 X 0 0 0 FURMAN MARIA REGENT 1.00 1.00 X 0 0 0 GRIER ED REGENT 1.00 1.00 X 0 0 0 JEFFRIES PARIS IMARI REGENT (AS OF 11/10/22) 1.00 1.00 X 0 0 0 JULIAN JR JAMES REGENT 1.00 40.00 X 0 489817 162119 KARAM STEVE REGENT (THRU 11/1/22) 1.00 1.00 X 0 0 0 KEITH JEFF REGENT 1.00 1.00 X 0 0 0 KILBURN DON REGENT 1.00 40.00 X 0 668566 99591 LARSON GLORIA REGENT 1.00 1.00 X 0 0 0 MARTINEZ VERA REGENT (THRU 11/1/22) 1.00 1.00 X 0 0 0 NEWMAN KATHERINE REGENT (THRU 1/31/23) 1.00 40.00 X 0 494548 124583 WOOLRIDGE VICTOR REGENT 1.00 1.00 X 0 0 0 ANDREWS DAVID CHANCELLOR/CEO (AS OF12/31/22) 40.00 0.00 X 465108 0 17924 BRAHM GARY CHANCELLOR/CEO (THRU 12/30/22) 40.00 0.00 X 1208206 0 39146 DEVINE DANIEL CHIEF OPERATING OFFICER 40.00 0.00 X 241317 0 59417 DOOLITTLE PHILLIP EXEC VC CFO/TREASURER 40.00 0.00 X 488896 0 43009 KNIGHT SASKIA EXE VC OF ENROLL/STUD AFFAIRS 40.00 0.00 X 520889 0 55751 DODGE LAURIE VC OF INST ASMNT (THRU 05/23) 40.00 0.00 X 434509 0 38163 ETESAMNIA HAMID VC OF INFO TECH (THRU 8/31/22) 40.00 0.00 X 538905 0 34266 HOMER JAMES VC OF NATIONAL PARTNERSHIPS 40.00 0.00 X 288571 0 36939 JOHNSTON DEXTER CEO, CBEESC (THRU 5/2/23) 40.00 0.00 X 319868 0 42853 TARIQ KHALID ASSOC VC OF INFO SYSTEMS 40.00 0.00 X 401103 0 24158 BULLOCK CHARLES FORMER EVC ACADEMIC AFFAIRS 40.00 0.00 X 270775 0 17596 5178147 1652931 795515 139 1 1 0 GUILD EDUCATION 370 17TH ST STE 3400 DENVER CO 80202 STRATEGIC PARTNER 8377819 TIAA CREF 8500 ANDREW CARNEGIE BLVD CHARLOTTE NC 28262 RETIREMENT SERVICES 6731051 GOOGLE LLC 1600 AMPHITHEATRE PKWY MOUNTAIN VIEW CA 94043 ADVERTISING 6575628 BLUE SHIELD OF CALIFORNIA PO BOX 749415 LOS ANGELES CA 90074 HEALTH INSURANCE 5560490 INNOCEAN WORLDWIDE AMERICAS LLC 180TH 5TH STREET SUITE 200 HUNTINGTON BEACH CA 92648 ADVERTISING 4039288 79 746629 81992 828621 TUITION AND FEES 611710 106618179 106618179 AUXILIARY REVENUE 721110 50011 50011 106668190 347570 347570 19000 0 19000 19000 19000 41906810 36829554 5077256 5077256 5077256 REFUNDS AND REBATES 900099 6844 6844 MISCELLANEOUS 900099 258 258 7102 112947739 106668190 0 5450928 X 8682681 8682681 4322403 518385 3804018 54346109 47429398 6916711 3104753 2411559 693194 7420586 4896407 2524179 4215606 3498420 717186 630365 630365 297118 297118 25300 25300 10518463 9362420 1156043 18260856 18241165 19691 1939873 1382699 557174 2530644 2254812 275832 2255982 1862432 393550 109014 97945 11069 408160 310146 98014 2560149 2560149 7340075 7340075 574444 574444 LIBRARY SHARED SERVICES 285655 285655 LIBRARY ONLINE RESOURCE 256997 256997 ACCREDITATION 106984 106984 STATE REGISTRATIONS 43042 31738 11304 130235259 101522859 28687100 25300 50115598 938467 0 23445481 0 0 7867549 9654587 0 0 0 0 7000565 7871043 0 0 2668758 1590332 18737122 13006462 45392282 5730660 0 0 0 0 0 0 0 0 4864067 12373884 117908819 61604454 14935791 8861395 0 0 13878243 14431643 0 0 0 0 0 0 140786722 100624285 0 0 5776120 11975551 175376876 135892874 X -58373201 -74711162 905144 422742 -57468057 -74288420 117908819 61604454 X -17287520 467157 X 0 1 X 1 1 1 X 375322 136367 5320758 72662 828621 6733730 375322 136367 5320758 72662 828621 6733730 42103 6691627 303220 1091 185161 20666 366570 876708 23973 235452 8027 9857 7102 284411 7894849 636374195 0.84760 0.83460 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2018 AMOUNT: $ 23,973. 2019 AMOUNT: $ 235,452. 2020 AMOUNT: $ 8,027. 2021 AMOUNT: $ 9,857. 2022 AMOUNT: $ 7,102. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1161900 380642 781258 17575222 12625820 4949402 5730660 DEPOSITS 208163 LEASE ASSETS 12165721 12373884 AGENCY ASSETS HELD IN CUSTODY 129442 RIGHT OF USE LIABILITY 11846109 11975551 104265058 0 104265058 8682681 8682681 112947739 121085421 0 121085421 9149838 9149838 130235259 PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS REPORTED GROSS ON FORM 990 8,682,681. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS REPORTED GROSS ON FORM 990 8,682,681. ADJUSTMENT FOR BAD DEBT 467,157. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UMASS GLOBAL'S NON-DISCRIMINATION POLICY (BELOW) IS PROMINENT IN BOTH THE UNDERGRADUATE AND GRADUATE APPLICATIONS (BOTH ON ONLINE AND PDF VERSIONS). UMASS GLOBAL CONSIDERS ALL APPLICANTS WITHOUT REGARD TO RACE, RELIGION, COLOR, NATIONAL ORIGIN, AGE, SEX, MARITAL STATUS, DISABILITY, VETERAN STATUS OR ANY OTHER CHARACTERISTIC PROTECTED BY APPLICABLE STATE OR FEDERAL CIVIL RIGHTS LAWS. SOME INFORMATION REQUESTED IN THE APPLICATION PROCESS IS REQUESTED FOR FEDERAL REPORTING, AND IS NOT USED IN A DISCRIMINATORY MANNER. SCHEDULE E, PART I, LINE 6 UMASS GLOBAL IS AWARDED GRANTS FROM GOVERNMENT AGENCIES, SUCH AS THE DEPARTMENT OF EDUCATION AND THE CALIFORNIA STUDENT AID COMMISSION, TO PROVIDED FINANCIAL AID TO STUDENTS. X X X X 1 SARA CATZ PO BOX 18882 IRVINE CA 92623 GRANT WRITING 0 0 25300 -25300 25300 -25300 1 UMASS GLOBAL UNDERGRADUATE SCHOLARSHIPS 3521 2980808 N/A N/A UMASS GLOBAL GRADUATE SCHOLARSHIPS 2929 4233566 N/A N/A PRIVATE SCHOLARSHIPS 159 696971 N/A N/A FEDERAL SEOG 892 580444 N/A N/A SCHOLARSHIPS 108 190892 N/A N/A PART I, LINE 2: GRANTS AND OTHER ASSISTANCE REPRESENT STUDENT FINANCIAL AID. WHEN AWARDING AID, UMASS GLOBAL FOLLOWS ALL LAWS AND REGULATIONS OF FEDERAL AND STATE OF CALIFORNIA AID PROGRAMS. FOR MORE INFORMATION, VISIT OUR WEBSITE AT WWW.UMASSGLOBAL.EDU. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 BRAHM GARY CHANCELLOR/CEO (THRU 12/30/22) 737059 0 344712 0 126435 0 27450 0 11696 0 1247352 0 0 0 KILBURN DON REGENT 0 424060 0 145600 0 98906 0 56946 0 42645 0 768157 0 0 JULIAN JR JAMES REGENT 0 455123 0 0 0 34694 0 131886 0 30233 0 651936 0 0 NEWMAN KATHERINE REGENT (THRU 1/31/23) 0 361500 0 54225 0 78823 0 111634 0 12949 0 619131 0 0 KNIGHT SASKIA EXE VC OF ENROLL/STUD AFFAIRS 418015 0 80000 0 22874 0 27001 0 28750 0 576640 0 0 0 ETESAMNIA HAMID VC OF INFO TECH (THRU 8/31/22) 200121 0 29200 0 309584 0 14538 0 19728 0 573171 0 0 0 DOOLITTLE PHILLIP EXEC VC CFO/TREASURER 397476 0 70000 0 21420 0 27450 0 15559 0 531905 0 0 0 ANDREWS DAVID CHANCELLOR/CEO (AS OF12/31/22) 421275 0 0 0 43833 0 7030 0 10894 0 483032 0 0 0 DODGE LAURIE VC OF INST ASMNT (THRU 05/23) 330109 0 94038 0 10362 0 25242 0 12921 0 472672 0 0 0 TARIQ KHALID ASSOC VC OF INFO SYSTEMS 200453 0 199820 0 830 0 6213 0 17945 0 425261 0 0 0 JOHNSTON DEXTER CEO, CBEESC (THRU 5/2/23) 316483 0 0 0 3385 0 27450 0 15403 0 362721 0 0 0 HOMER JAMES VC OF NATIONAL PARTNERSHIPS 285490 0 0 0 3081 0 8850 0 28089 0 325510 0 0 0 DEVINE DANIEL CHIEF OPERATING OFFICER 238924 0 0 0 2393 0 21406 0 38011 0 300734 0 0 0 BULLOCK CHARLES FORMER EVC ACADEMIC AFFAIRS 119878 0 143750 0 7147 0 11025 0 6571 0 288371 0 0 0 PART I, LINE 1A: HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE A HOUSING ALLOWANCE OF $103,846 WAS PROVIDED TO THE CHANCELLOR (GARY BRAHM). IT IS CONSIDERED A TAXABLE BENEFIT AND AS SUCH, IS INCLUDED IN HIS W-2 EARNINGS. A HOUSING ALLOWANCE OF $30,000 WAS PROVIDED TO THE CHANCELLOR/CEO (DAVID ANDREWS). IT IS CONSIDERED A TAXABLE BENEFIT AND AS SUCH, IS INCLUDED IN HIS W-2 EARNINGS. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES CERTAIN EMPLOYEES HAVE ACCESS TO SOCIAL CLUB MEMBERSHIPS FOR THE BUSINESS PURPOSE OF CULTIVATING DONOR/TRUSTEE RELATIONSHIPS. FOR THIS FISCAL YEAR, SOCIAL CLUB DUES OF $11,075 WERE PAID FOR GARY BRAHM. THESE WERE DETERMINED TO BE NON-TAXABLE BENEFITS SINCE THEY HAD A BONA FIDE BUSINESS PURPOSE. HAMID ETESAMNIA ENTERED INTO A RETENTION BONUS AGREEMENT, EFFECTIVE MAY 27, 2020. THIS WAS AN UNFUNDED INELIGIBLE DEFERRED COMPENSATION AGREEMENT SUBJECT TO IRC SECTIONS 409(A)AND 457(F) AND OTHER APPLICABLE LAW. ALL REQUIREMENTS WERE MET AS OF JANUARY 31, 2022 AND FULL PAYMENT OF $303,680 WAS MADE TO THE PARTICIPANT AND IS REPORTED IN PART II, COLUMN B(II). FORM 990, PART I, LINES 8 THROUGH 19, PRIOR YEAR REVENUE & EXPENSES: THE PRIOR YEAR REVENUE AND EXPENSES REPORTED IN THIS SECTION DEPICT THE ONE MONTH TAX PERIOD BEGINNING JUNE 1, 2022 TO JUNE 30, 2022; THEREFORE, THIS REVENUE AND EXPENSES WILL NOT BE COMPARABLE TO THE 12 MONTHS ENDING JUNE 30, 2023. A STUB PERIOD RETURN WAS FILED IN THE PRIOR YEAR DUE TO THE CHANGE IN FISCAL YEAR END OF UMASS GLOBAL FROM MAY 31 TO JUNE 30. FORM 990, PART VI, SECTION A, LINE 6 UNIVERSITY OF MASSACHUSETTS IS THE SOLE MEMBER OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS OF UMASS GLOBAL PROVIDE THAT THE SOLE MEMBER, UNIVERSITY OF MASSACHUSETTS, HAS THE POWER TO APPOINT INTERESTED REGENTS. THE SOLE MEMBER ALSO HAS THE POWER TO APPOINT CHAIR AND VICE CHAIR OF THE REGENTS, WHO SERVE FOR A PERIOD OF THREE (3) YEARS. FORM 990, PART VI, SECTION A, LINE 7B WITHOUT AN AFFIRMATIVE VOTE OF THE SOLE CORPORATE MEMBER, UNIVERSITY OF MASSACHUSETTS, NEITHER UMASS GLOBAL NOR THE BOARD SHALL ENTER INTO ANY COMMITMENT TO: - AMEND, MODIFY OR WAIVE ANY PROVISIONS OF THE ARTICLES. - INCUR ANY INDEBTEDNESS, PLEDGE OR GRANT LIENS ON ANY ASSETS IN EXCESS OF $15 MILLION IN A SINGLE TRANSACTION OR $50 MILLION IN THE AGGREGATE AT ANY TIME OUTSTANDING. - INCUR ANY CAPITAL EXPENDITURES IN EXCESS OF $10 MILLION IN A SINGLE TRANSACTION OR SERIES OF RELATED TRANSACTIONS, OR IN EXCESS OF $2 MILLION PER MONTH. -ENTER INTO OR EFFECT ANY TRANSACTION OR SERIES OF RELATED TRANSACTIONS INVOLVING SALE, LESE, LICENSE, EXCHANGE, OR OTHER DISPOSITION OF ANY ASSETS, OTHER THAN SALES OF INVENTORY IN THE ORDINARY COURSE OF BUSINESS. -ESTABLISH ANY SUBSIDIARY OR ENTER INTO ANY JOINT VENTURE OR SIMILAR BUSINESS ARRANGEMENT. -MERGE, REORGANIZE, CONSOLIDATE, DISSOLVE, WIND-UP OR LIQUIDATE, MAKE AN ASSIGNMENT FOR THE BENEFIT OF CREDITORS OR INITIATE A BANKRUPTCY PROCEEDING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED WITH AN OUTSIDE ACCOUNTING FIRM WHO WORKS CLOSELY WITH THE UMASS GLOBAL CONTROLLER. THE FORM IS THEN REVIEWED BY THE COO AND BY THE AUDIT COMMITTEE. SUBSEQUENT TO ITS REVIEW, THE AUDIT COMMITTEE REPORTS BACK TO THE BOARD OF REGENTS REGARDING ITS OVERSIGHT OF THE FORM 990 AND THE FINAL FORM, INCLUDING ALL SCHEDULES, IS PROVIDED TO THE ENTIRE VOTING BOARD BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE COO IS CHARGED WITH MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND ADDRESSING ANY POTENTIAL OR ACTUAL CONFLICTS. PURSUANT TO THE CONFLICTS OF INTEREST POLICY, AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE, AIMED AT DETERMINING ANY FAMILY AND BUSINESS RELATIONSHIPS AND TRANSACTIONS OR OTHER TRANSACTIONS THAT MAY POSE A POTENTIAL CONFLICT, IS DISTRIBUTED TO ALL COVERED PERSONS (I.E., BOARD MEMBERS, OFFICERS AND EXECUTIVE LEADERSHIP OR KEY EMPLOYEES). COVERED PERSONS ARE REQUIRED TO DISCLOSE REAL OR POTENTIAL CONFLICTS AT THE TIME WHEN SUCH CONFLICTS ARISE. WHEN SOMEONE BECOMES A COVERED PERSON AND ANNUALLY THEREAFTER, EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT AFFIRMING THAT HE/SHE: (1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; (2) HAS READ THE POLICY AND UNDERSTANDS SAID POLICY; AND (3) AGREES TO COMPLY WITH ALL REQUIREMENTS OF THE POLICY, INCLUDING COMPLETING THE CONFLICTS OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE REVEIWED BY THE EXECUTIVE VICE CHANCELLOR OF FINANCE & ADMINISTRATION/CFO AND THE AUDIT COMMITTEE, THEN THE RESULTS ARE REPORTED TO THE FULL BOARD OF REGENTS AS DEFINED BY THE UNIVERSITY'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD APPOINTS AN EXECUTIVE COMPENSATION COMMITTEE, COMPRISED SOLELY OF INDEPENDENT DIRECTORS, NONE OF WHICH HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT, TO BE ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES, INCLUDING ANY RETENTION BONUSES, FOR THE CHANCELLOR/CEO, OTHER OFFICERS AND KEY EMPLOYEES (IF ANY). FOR THE TAX YEAR 2022, THE EXECUTIVE COMPENSATION COMMITTEE HIRED A QUALIFIED INDEPENDENT COMPENSATION AND BENEFITS CONSULTING FIRM (INDEPENDENT EXPERT) TO REVIEW, ANALYZE AND PROVIDE BENCHMARKING DATA FOR THE TOTAL COMPENSATION AND BENEFITS PACKAGE. THE COMPARABILITY DATA OBTAINED FROM THE INDEPENDENT EXPERTS, I.E., TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (PEER ANALYSIS) FOR SIMILAR JOB DUTIES, INCLUDED FORM 990 DISCLOSURES OF NOT-FOR-PROFIT PEER ORGANIZATIONS AND A NUMBER OF NATIONAL COMPENSATION AND BENEFITS SURVEYS AND REPORTS. THE INDEPENDENT EXPERTS REPORT, WAS REVIEWED BY THE EXECUTIVE COMPENSATION COMMITTEE AT ITS FEBRUARY 21, 2022 MEETING. THE EXECUTIVE COMMITTEE'S DISCUSSIONS AND DECISIONS WERE CONTEMPORANEOUSLY DOCUMENTED. DOCUMENTATION INCLUDES: THE TERMS OF THE DELIBERATIONS, MEMBERS PRESENT AND THOSE WHO VOTED ON IT, A DESCRIPTION OF THE COMPARABILITY DATA RELIED UPON AND HOW IT WAS OBTAINED, DATE APPROVED, AND ANY ACTIONS TAKEN WITH RESPECT TO ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 WHILE FEDERAL TAX LAWS DO NOT MANDATE THAT THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS BE MADE AVAILABLE FOR PUBLIC INSPECTION, THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 3,334,600. MANAGEMENT AND GENERAL EXPENSES 1,156,043. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,490,643. STRATEGIC ENROLLMENT PARTNERS : PROGRAM SERVICE EXPENSES 6,027,820. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,027,820. FORM 990, PART XI, LINE 9: BAD DEBT RECOVERY 467,157. UNIVERSITY OF MASSACHUSETTS 120 TILLSON FARM ROAD AMHERST MA 010039346 823202363 EDUCATION MA STATE OF MA N/A 0 CBE EDUCATIONAL SERVICES COMPANY INC 1875 K STREET NW 5TH FLOOR WASHINGTON DC 20006 820732306 EDUC SOFTWARE CA UMASS GLOBAL C 1333856 254252 1.00000 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 0 1 0 CBE EDUCATIONAL SERVICES COMPANY INC D 7871043 LOAN BALANCE CBE EDUCATIONAL SERVICES COMPANY INC A 270478 INTEREST PAID CBE EDUCATIONAL SERVICES COMPANY INC N 15984 AMOUNTS PAID FOR INSURANCE CBE EDUCATIONAL SERVICES COMPANY INC O 305395 COST OF SERVICE FOR EMPLOYEES CBE EDUCATIONAL SERVICES COMPANY INC P 558035 VALUE OF SERVICES PURCHASED