2023-05-05T16:05:17-05:00 2022-06-30 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2021-07-01 042121659 WORCESTER POLYTECHNIC INSTITUTE WORC 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 MICHAEL HORAN EXECUTIVE VP & CFO 5088315000 2023-05-05 1 MICHAEL HORAN XXX-XX-XXXX ERIN COUTURE P01390592 6177237900 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JINLIU WANG 100 INSTITUTE ROAD WORCESTER MA 01609 453900620 0 X WWW.WPI.EDU X 1865 MA WORCESTER POLYTECHNIC INSTITUTE WAS FOUNDED IN 1865 TO CREATE AND CONVEY (CONTINUED ON SCHEDULE O)THE LATEST SCIENCE AND ENGINEERING KNOWLEDGE IN WAYS THAT ARE MOST BENEFICIAL FOR SOCIETY. 30 29 4068 371 -195567 0 32507077 25922762 361959356 414335622 3458369 4296051 228159 317211 398152961 444871646 109923528 131407562 0 0 164629912 176218032 102453 166030 8160083 123858726 137704672 398514619 445496296 -361658 -624650 1309104658 1250809748 505144441 485190259 803960217 765619489 X THE UNIVERSITY EDUCATES TALENTED MEN AND WOMEN IN ENGINEERING, SCIENCE, MANAGEMENT, AND HUMANITIES IN PREPARATION FOR CAREERS OF PROFESSIONAL PRACTICE, CIVIC CONTRIBUTION, AND LEADERSHIP, FACILITATED BY ACTIVE LIFELONG LEARNING. (CONT. ON SCH O) THIS EDUCATIONAL PROCESS IS TRUE TO THE FOUNDERS' DIRECTIVE TO CREATE, TO DISCOVER, AND TO CONVEY KNOWLEDGE AT THE FRONTIERS OF ACADEMIC INQUIRY FOR THE BETTERMENT OF SOCIETY. KNOWLEDGE IS CREATED AND DISCOVERED IN THE SCHOLARLY ACTIVITIES OF FACULTY AND STUDENTS RANGING ACROSS EDUCATIONAL METHODOLOGY, PROFESSIONAL PRACTICE, AND BASIC RESEARCH. KNOWLEDGE IS CONVEYED THROUGH SCHOLARLY PUBLICATION AND INSTRUCTION. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML) 0 0 311546183 123261016 374293187 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 5,200 UNDERGRADUATE AND 2,000 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 2,400 STUDENTS. DURING FISCAL YEAR 2022, THE UNIVERSITY AWARDED 1,197 BACHELOR, 684 MASTER AND 69 PHD DEGREES. STUDENTS EMERGE FROM THE UNIVERSITY'S UNIQUE EXPERIENCE READY TO TAKE ON SOME OF THE MOST DIFFICULT CHALLENGES IN SCIENCE AND TECHNOLOGY. MORE IMPORTANTLY, THEY UNDERSTAND HOW THEIR WORK CAN TRULY IMPACT SOCIETY AND IMPROVE LIVES. 46211855 8146546 40042435 AT THE UNIVERSITY, 223 FACULTY AND POST DOC RESEARCHERS, AND 546 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A VARIETY OF SOURCES, PRIMARILY FROM GOVERNMENTAL ORGANIZATIONS SUCH AS THE NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES. RESEARCH AT THE UNIVERSITY HAS A DECIDEDLY APPLIED FOCUS, WITH WORK FOCUSED ON PROBLEMS THAT ARE BOTH INTERESTING AND IMPORTANT. THE RESULT IS NEW KNOWLEDGE, NEW INNOVATIONS, AND TECHNOLOGICAL ADVANCES THAT ATTACK SOME OF THE MAJOR CHALLENGES OF OUR TIME. 357758038 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 1 X 7738 0 1 4068 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 30 29 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X MICHAEL HORAN 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 LAURIE LESHIN PRESIDENT (THRU 05/2022) 40.00 1.00 X X 1905265 0 100018 WINSTON SOBOYEJO PROVOST (THRU 05/22)/INTERIM. PRES. 40.00 1.00 X X 564121 0 104990 JOHN MOLLEN CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 ANDREW ABERDALE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 WILLIAM FITZGERALD CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 MICHAEL ASPINWALL VICE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 MARNI HALL VICE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 LINWOOD BRADFORD VICE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 JAMES BAUM TRUSTEE 2.00 0.00 X 0 0 0 LORRAINE BOLSINGER TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL DOLAN TRUSTEE 2.00 0.00 X 0 0 0 HENRY FITZGERALD TRUSTEE 2.00 0.00 X 0 0 0 ROBERT HART TRUSTEE 2.00 0.00 X 0 0 0 JEREMY HITCHCOCK TRUSTEE 2.00 0.00 X 0 0 0 STUART KAZIN TRUSTEE 2.00 0.00 X 0 0 0 CARL KILMER TRUSTEE 2.00 0.00 X 0 0 0 JOYCE KLINE TRUSTEE 2.00 0.00 X 0 0 0 DAVID LAPRE TRUSTEE 2.00 0.00 X 0 0 0 FRANCESCA MALTESE TRUSTEE 2.00 0.00 X 0 0 0 ROBERT MARTIN TRUSTEE 2.00 0.00 X 0 0 0 ERICA MASON TRUSTEE 2.00 0.00 X 0 0 0 PAMELA MCCAULEY TRUSTEE 2.00 0.00 X 0 0 0 NEIL MCDONOUGH TRUSTEE 2.00 0.00 X 0 0 0 LINDA MCGOLDRICK TRUSTEE 2.00 0.00 X 0 0 0 GEORGE OLIVER TRUSTEE 2.00 0.00 X 0 0 0 MARK O'NEIL TRUSTEE 2.00 0.00 X 0 0 0 KAREN TEGAN PADIR TRUSTEE 2.00 0.00 X 0 0 0 MARK RUSSELL TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN RUSCKOWSKI TRUSTEE 2.00 0.00 X 0 0 0 JOAN BOLDUC SZKUTAK TRUSTEE 2.00 0.00 X 0 0 0 DOROTHEA WONG TRUSTEE 2.00 0.00 X 0 0 0 JEFFREY SOLOMON TREAS, EXEC VP, CFO (THRU 08/21) 40.00 1.00 X 738198 0 43552 DAVID BUNIS SECRETARY & GENERAL COUNSEL 40.00 0.00 X 608493 0 29511 MICHAEL HORAN TREAS, EXEC VP, CFO (AS OF 08/21) 40.00 1.00 X 194712 0 22211 PATRICK HITCHCOCK ASSOC TREAS&CONTROLLER (THRU 01/22) 40.00 1.00 X 148280 0 39042 KYLE SIEGEL ASST. 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SOURCES 611710 12466055 12466055 OTHER EDUC. OPERATIONS 611710 2317042 2257532 59510 414335622 6241403 -255077 6496480 312101 312101 5083622 2000000 5365612 3663362 -281990 -1663362 -1945352 -1945352 GAIN INT RATE AGREEMNT 900099 5110 5110 5110 444871646 414276112 -195567 4868339 7874649 7874649 123196015 123196015 336898 336898 6601421 481606 4431595 1688220 187754 187754 135252518 103377162 28049480 3825876 9894651 7286279 2326475 281897 15715774 8118201 6477945 1119628 8565914 6307816 2014056 244042 1341579 16502 1325077 428057 428057 185294 185294 166030 166030 1367695 1367695 20527214 17579459 2883303 64452 1900829 1630483 249125 21221 4976632 1955736 2874200 146696 9536746 772333 8566330 198083 13118347 10977768 2140579 5061475 4742719 239493 79263 2507736 1619059 844199 44478 11737403 10200833 1536558 12 31511317 25702498 5808819 1324711 124115 1200596 REPAIRS AND MAINTENANCE 14991594 14355228 609527 26839 LAB EQUIPMENT/SUPPLIES 6472824 5209001 1251966 11857 RESEARCH AND TRAINING 4801619 4566790 234829 0 BOOKS AND PERIODICALS 2700238 7162 2688413 4663 3213362 1319726 1844564 49072 445496296 357758038 79578175 8160083 58126642 9011904 32919574 32927269 7162001 10737226 15475168 16071923 7479550 9637273 875660573 369682051 465551320 505978522 78639685 109808279 573442239 530906469 70308479 25730883 1309104658 1250809748 48566941 30727668 10858282 11491013 338919319 334437037 5027157 194552 60936349 60591569 40836393 47748420 505144441 485190259 X 360421896 348631068 443538321 416988421 803960217 765619489 1309104658 1250809748 X -624650 -39373231 1657153 X 0 1 X 1 1 1 X 15469079 21267550 33087495 32507077 25922762 128253963 15469079 21267550 33087495 32507077 25922762 128253963 8624161 119629802 7358631 7215285 6508829 4350643 6808581 32241969 38254 38254 63465 22800 26371 112636 160646822 1782455872 0.74470 0.72820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM GAMING - 2017 AMOUNT: $ 63,465. 2018 AMOUNT: $ 22,800. 2019 AMOUNT: $ 26,371. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 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X X 0 630915527 12869512 -31950308 9825960 14901713 587107058 484367049 10106274 160615648 9447238 14726206 630915527 508521354 4302473 -9351199 9007430 10098149 484367049 500270617 9366879 21649079 8986726 13778495 508521354 484527764 6005130 33375177 9616870 14020584 500270617 0.39600 0.36600 0.23800 0 0 11464520 11464520 686487007 261366378 425120629 20591656 10733697 9857959 144210879 97581976 46628903 12906511 12906511 505978522 EQUITY FUNDS 301709353 F PRIVATE EQUITY FUNDS 98469609 F FIXED INCOME FUNDS 71135654 F REAL ESTATE 59591853 F 530906469 OPERATING LEASE LIABILITIES 27873271 SPLIT INTEREST RATE AGREEMENTS 6003334 FUNDS HELD FOR OTHERS 5601414 REFUNDABLE GOVERNMENT LOAN FUNDS 3601333 INTEREST RATE AGREEMENTS 3391371 ASSET RETIREMENT OBLIGATIONS 1277697 47748420 X PART III, LINE 1A: DUE TO THE IMMATERIALITY OF THE UNIVERSITY'S COLLECTIONS OF ART OR HISTORICAL TREASURES, THESE ASSETS ARE NOT DISCLOSED IN THE FINANCIAL STATEMENTS. PART III, LINE 4: THE UNIVERSITY HOLDS A CHARLES DICKENS COLLECTION, A BERNARD BRENNER SCULPTURE COLLECTION, A RARE BOOK AND MANUSCRIPT COLLECTION, AS WELL AS OTHER WORKS OF ART. THESE PIECES ARE USED BY THE FACULTY TO FURTHER THEIR RESEARCH AND CURRICULUM. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE PROGRAMS OF THE UNIVERSITY, INCLUDING SCHOLARSHIPS, FACULTY TEACHING AND RESEARCH, LIBRARY RESOURCES, AND MAINTENANCE. THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT AND SIMILAR FUNDS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE UNIVERSITY RELIES ON A TOTAL RETURN APPROACH IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED GAINS) AND CURRENT YIELD. TO ACHIEVE ITS LONG-TERM OBJECTIVES WITHIN PRUDENT RISK PARAMETERS, THE UNIVERSITY TARGETS A DIVERSIFIED ASSET ALLOCATION. THE UNIVERSITY OBSERVES A SPENDING RULE WITH RESPECT TO TOTAL RETURN (INTEREST, DIVIDENDS, AND APPRECIATION) ON INVESTMENTS OF THE ENDOWMENTS AND SIMILAR FUNDS. UNDER THE SPENDING RULE, THE UNIVERSITY APPROPRIATED 4.7% OF ITS ENDOWMENT AND SIMILAR FUNDS' AVERAGE UNIT FAIR VALUE FOR THE PREVIOUS TWELVE QUARTERS, ONE YEAR REMOVED, FOR THE YEAR ENDED JUNE 30, 2022. PART X, LINE 2: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE UNIVERSITY HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, UPON THE UNIVERSITY'S CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS, OR THE RELATED CONSOLIDATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. 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 UNIVERSITY MAKES ITS ANTI-DISCRIMINATION POLICY KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A NOTICE OF NON-DISCRIMINATION ON ITS WEBSITE, AND IN ALL BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. (CONTINUED BELOW LINE 6) SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN THE FORM OF 34A TITLE IV AID. LINE 3 - NONDISCRIMINATION POLICY CONTINUED: IT IS THE POLICY OF THE UNIVERSITY TO PROVIDE EACH QUALIFIED INDIVIDUAL - REGARDLESS OF RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS - THE OPPORTUNITY TO PARTICIPATE IN THE UNIVERSITY'S EDUCATIONAL AND EMPLOYMENT PROGRAMS AND ACTIVITIES, INCLUDING ADMISSIONS, IN A DISCRIMINATION AND HARASSMENT-FREE ENVIRONMENT, IN ACCORDANCE WITH STATE AND FEDERAL LAWS, INCLUDING TITLE VI AND TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, SECTION 504 OF THE REHABILITATION ACT OF 1973, TITLE IX OF THE EDUCATION AMENDMENTS OF 1972, AND THE AGE DISCRIMINATION ACT OF 1975, AND THEIR RESPECTIVE IMPLEMENTING REGULATIONS. FURTHERMORE, THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE UNLAWFUL DISCRIMINATION OR HARASSMENT. UNLAWFUL DISCRIMINATION OR HARASSMENT CONSISTS OF TREATING A PERSON DIFFERENTLY IN ANY UNIVERISTY PROGRAM OR ACTIVITY BASED ON THEIR RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS. THIS INCLUDES, FOR EXAMPLE, THE DISPLAY OR CIRCULATION OF WRITTEN OR ELECTRONIC MATERIALS OR PICTURES DEGRADING TO A PERSON'S GENDER OR TO RACIAL, ETHNIC, OR RELIGIOUS GROUPS; AND VERBAL ABUSE OR INSULTS DIRECTED AT OR MADE IN THE PRESENCE OF MEMBERS OF A RACIAL, ETHNIC, OR MINORITY GROUP. THE UNIVERSITY WILL ADMINISTER ANY COMPLAINT OF DISCRIMINATION OR HARASSMENT WITH THE UTMOST DEGREE OF PRIVACY AND CONFIDENTIALITY POSSIBLE UNDER THE CIRCUMSTANCES OF EACH MATTER AND AS PERMITTED BY LAW. FAILURE OF ANY PARTICIPANT TO RESPECT CONFIDENTIALITY, BOTH DURING OR AFTER AN INVESTIGATION PROCESS, MAY CONSTITUTE RETALIATION AND SUBJECT THE VIOLATOR TO DISCIPLINE. THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE ANY FORM OF RETALIATION AGAINST PERSONS WHO HAVE COMPLAINED ABOUT, OR PARTICIPATED IN AN INVESTIGATION OF A COMPLAINT ABOUT, UNLAWFUL DISCRIMINATION OR HARASSMENT. THE UNIVERSITY WILL MAKE AN INDEPENDENT INQUIRY INTO COMPLAINTS OF UNLAWFUL DISCRIMINATION AND HARASSMENT, ACCORDING TO APPLICABLE UNIVERSITY POLICIES AND PROCEDURES, AND VIOLATIONS BY STUDENTS/EMPLOYEES WILL BE SUBJECT TO DISCIPLINARY ACTION, INCLUDING SUSPENSION, EXPULSION, OR TERMINATION, WHERE APPROPRIATE. 1 CENTRAL AMERICA AND THE CARIBBEAN 2 2 PROGRAM SERVICES SEE PART V 112336 EAST ASIA AND THE PACIFIC 2 2 PROGRAM SERVICES SEE PART V 69320 EUROPE (INCLUDING ICELAND & GREENLAND) 2 2 PROGRAM SERVICES SEE PART V 1078283 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES SEE PART V 313785 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES SEE PART V 42590 SOUTH AMERICA 2 2 PROGRAM SERVICES SEE PART V 132558 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 109169269 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 10536643 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 52128 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 83120 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 44740 SOUTH AMERICA 0 0 GRANTMAKING 89647 NORTH AMERICA - CANADA AND MEXICO 0 0 GRANTMAKING 67263 8 8 0 0 8 8 121454784 336898 121791682 SOUTH AMERICA RESEARCH 89647 0 NORTH AMERICA - CANADA AND MEXICO RESEARCH 67263 0 MIDDLE EAST AND NORTH AFRICA RESEARCH 44740 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 83120 0 4 0 SUPPLIES SUB-SAHARAN AFRICA 51 52128 MEDICAL SUPPLIES COST 1 0 1 1 1 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH BOTH ITS OFFICE OF SPONSORED PROGRAMS (OSP) AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND CERTAIN POST-AWARD ACTIVITIES, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS, AMONG OTHERS. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS AND PREPARATION AND SUBMISSION OF FEDERAL AGENCY REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDETNS. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. PART I, LINE 3: FOREIGN EXPENDITURES ARE SEPARATELY IDENTIFIED IN THE INSTITUTE'S BOOKS AND RECORDS. 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CALIFORNIA RIVERSIDE 1084 COLUMBIA AVENUE RIVERSIDE CA 92324 956006142 115 127828 0 RESEARCH UNIVERSITY OF FLORIDA 207 GRINTER HALL GAINESVILLE FL 32611 596002052 115 27439 0 RESEARCH UNIVERSITY OF ILLINOIS 506 S WRIGHT STREET URBANA IL 61801 037600051 115 356445 0 RESEARCH UNIVERSITY OF INDIANA 107 S INDIANA AVE BLOOMINGTON IN 47405 356001673 115 152515 0 RESEARCH UNIVERSITY OF MAINE 312 SHIBLES HALL ORONO ME 04469 016000769 115 142369 0 RESEARCH UNIVESITY OF MASSACUSETTS AMHERST 100 VENTURE WAY HADLEY MA 01035 043167352 115 228804 0 RESEARCH UNIVERSITY OF MASSACHUSETTS DARTMOUTH 285 OLD WESTPORT ROAD DARTMOUTH MA 02747 043167352 115 43247 0 RESEARCH UNIVERSITY OF MASSACHUSETTS MED SCHOOL 55 N LAKE AVE SHREWSBURY MA 01655 043167352 115 46579 0 RESEARCH UNIVERSITY OF NEW HAMPSHIRE 51 COLLEGE ROAD DURHAM NH 03824 026000937 115 7000 0 RESEARCH WAYNE STATE UNIVERSITY 5057 WOODWARD AVENUE 13TH FLOOR DETROIT MI 48202 386028429 115 18026 0 RESEARCH WEST VIRGINIA UNIVERSITY RESEARCH CORP ONE WATERFRONT PLACE PO BOX 6005 MORGANTOWN WV 26506 556000842 501(C)(3) 49988 0 RESEARCH WESTAT INC 20 UNIVERSITY ROAD CAMBRIDGE MA 02138 840529566 501(C)(3) 151273 0 RESEARCH WESTED 400 SEAPORT COURT SUITE 222 REDWOOD CITY CA 94063 943233542 501(C)(3) 315029 0 RESEARCH WOODS HOLE OCEANOGRAPHIC INSTITUTION 266 WOODS HOLE ROAD WOODS HOLE MA 02543 042105850 501(C)(3) 20090 0 RESEARCH 43 10 SCHOLARSHIPS 5134 123196015 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH BOTH ITS OFFICE OF SPONSORED PROGRAMS (OSP) AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND CERTAIN POST-AWARD ACTIVITIES, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS, AMONG OTHERS. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS AND PREPARATION AND SUBMISSION OF FEDERAL AGENCY REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDETNS. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. X X X X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 LAURIE LESHIN PRESIDENT (THRU 05/2022) 901231 0 1002744 0 1290 0 23200 0 76818 0 2005283 0 151875 0 JEFFREY SOLOMON TREAS, EXEC VP, CFO (THRU 08/21) 344019 0 121338 0 272841 0 24168 0 19384 0 781750 0 61620 0 WINSTON SOBOYEJO PROVOST (THRU 05/22)/INTERIM. PRES. 467831 0 95000 0 1290 0 23988 0 81002 0 669111 0 0 0 DAVID BUNIS SECRETARY & GENERAL COUNSEL 413639 0 193564 0 1290 0 24445 0 5066 0 638004 0 62210 0 PHILIP CLAY VP STUDENT AFFAIRS 298999 0 116996 0 1980 0 25300 0 10444 0 453719 0 27000 0 AMY MORTON VP AND CHIEF OF STAFF 300453 0 96268 0 690 0 25300 0 20762 0 443473 0 27000 0 JEAN KING DEAN OF ARTS & SCIENCES 347705 0 20000 0 1980 0 24897 0 24195 0 418777 0 0 0 DONNA STOCK VP UNIVERSITY ADVANCEMENT 300669 0 42000 0 1980 0 25419 0 23678 0 393746 0 0 0 JAMAL YAGOOBI DEPT HEAD MECHANICAL ENG 331253 0 0 0 3677 0 24891 0 33205 0 393026 0 0 0 JOHN MCNEIL DEAN OF ENGINEERING 312518 0 20000 0 1980 0 25358 0 25229 0 385085 0 0 0 BOGDAN VERNESCU VICE PROVOST RESEARCH 323695 0 20000 0 1980 0 25111 0 11279 0 382065 0 0 0 ARTHUR HEINRICHER INTERIM PROVOST (AS OF 05/2022) 219711 0 20000 0 3810 0 19595 0 9121 0 272237 0 0 0 WILLIAM MCAVOY FORMER VP UNIVERSITY ADVANCEMENT 0 0 0 0 230400 0 0 0 0 0 230400 0 0 0 BRUCE BURSTEN CHEMISTRY PROFESSOR 193038 0 6030 0 2477 0 17192 0 9995 0 228732 0 0 0 MICHAEL HORAN TREAS, EXEC VP, CFO (AS OF 08/21) 169060 0 0 0 25652 0 13458 0 8753 0 216923 0 0 0 PATRICK HITCHCOCK ASSOC TREAS&CONTROLLER (THRU 01/22) 143010 0 5000 0 270 0 13481 0 25561 0 187322 0 0 0 STEPHANIE PASHA FORMER AVP & CHIEF OF STAFF 142250 0 10000 0 661 0 12640 0 9199 0 174750 0 0 0 MICHELLE JONES-JOHNSON FORMER VP FOR TALENT DEV/CDO 50815 0 23110 0 32048 0 6603 0 6268 0 118844 0 0 0 PART I, LINE 1A THE UNIVERSITY HAS PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING AMOUNTS ARE NOT INCLUDED IN COMPENSATION TAXABLE TO THE EMPLOYEE: LAURIE LESHIN: THE PRESIDENT MAY FLY FIRST CLASS OR BUSINESS CLASS FOR TRAVEL IN EXCESS OF 3 HOURS. COMPANION TRAVEL IS ALLOWED FOR BONA FIDE BUSINESS PURPOSES INCLUDING DEVELOPMENT EVENTS OR UNIVERSITY RELATED ACTIVITIES. THE UNIVERSITY PROVIDES HOUSING ON CAMPUS AS A CONDITION OF HER EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, INCLUDING HOUSEKEEPING TO MAINTAIN THE APPEARANCE OF THE RESIDENCE FOR UNIVERSITY FUNCTIONS. PART I, LINES 4A-B LINE 4A - IN CONNECTION WITH THE SEPARATION OF TWO LISTED INDIVIDUALS FROM THE INSTITUTE, SEPARATION AGREEMENTS WERE EXECUTED WHICH INCLUDED THE PAYOUT OF CERTAIN LUMP SUM PAYMENTS, AND CONTINUATION OF SALARY. THE PORTION OF THESE PAYMENTS TAXABLE IN CALENDAR YEAR 2021 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (B)(III). LINE 4B - THE INSTITUTE HAS A LONG TERM INCENTIVE PLAN (LTIP) TO PROVIDE DEFERRED BONUSES TO CERTAIN LISTED INDIVIDUALS. AMOUNTS DEFERRED UNDER THE LTIP ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (C) AND ARE SUBJECT TO RISK OF FORFEITURE. AMOUNTS PAID UNDER THE LTIP IN 2021 ARE INCLUDED ON SCHEDULE J, COLUMN (B)(II). ADDITIONAL DETAILS REGARDING THE PLAN ARE INCLUDED IN RESPONSE SCHEDULE J, PART I, LINE 7. THERE HAVE BEEN NO ADDITIONAL AWARDS UNDER THIS PLAN SINCE JUNE 30, 2019. PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES HAS A PAY-FOR-PERFORMANCE COMPENSATION PHILOSOPHY IN DETERMINING EXECUTIVE COMPENSATION. A PLAN THAT IS PART OF THE PHILOSOPHY IS THE EXECUTIVE INCENTIVE COMPENSATION PLAN. EXECUTIVES ARE ELIGIBLE FOR PERFORMANCE-BASED PAY. THE PAYMENT OF A PERFORMANCE BONUS IS DEPENDENT UPON ACHIEVEMENT OF DEFINED GOALS AND OBJECTIVES, APPROVED BY THE PRESIDENT AND COMPENSATION COMMITTEE. THE PRESIDENT MAY RECEIVE A PERFORMANCE-BASED INCENTIVE SUBJECT TO THE TERMS AND PROVISIONS LISTED IN HER CONTRACT. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RTX3 2008-04-09 48995000 REFUNDING OF SERIES 2003&2005 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2014-08-28 4622000 RENOVATIONS OF EXISTING FACILITIES 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584XPK1 2016-06-21 49030491 REFUNDING OF SERIES 2007 BONDS 0 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584X2E0 2017-10-03 16911534 REFUNDING OF SERIES 2007 0 0 0 A 15265000 48995000 325962 19038 48650000 2008 1 0 1 1 B 1327000 4622000 61330 4560670 2016 0 0 1 1 C 49030491 471314 48559177 2016 0 1 1 1 D 1565000 16911534 288239 16623295 2017 1 0 1 1 A 0 1 1 1 1 1 0 0 1 B 0 0 0 0 0 0 1 C 0 1 1 1 0 0.00300 0.00300 0 0 1 A 0 0 0 1 1 1 DEUTSCHE & BARCLAYS 19.000000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, COLUMN F: BOND ISSUE A (SERIES 2008A) WAS USED TO REFUND SERIES 2003 AND 2005 WHICH WERE ISSUED JULY 20, 2003 AND AUGUST 3, 2005, RESPECTIVELY. BOND ISSUE C (SERIES 2016) WAS USED TO REFUND SERIES 2007 WHICH WAS ISSUED JUNE 28, 2007. BOND ISSUE D (SERIES 2017A) WAS USED TO REFUND A PORTION OF SERIES 2007, WHICH WAS ISSUED IN JUNE 28, 2007, THAT WAS ALLOCATED TO REFUND SERIES 1997-I, WHICH WAS ISSUED ON MARCH 20, 1997. BOND ISSUE A (SERIES 2017B) WAS USED TO REFUND SERIES 2010 WHICH WAS ISSUED JANUARY 27, 2010. BOND ISSUE B (SERIES 2019) WAS USED TO FUND VARIOUS CAPITAL PROJECTS. BOND ISSUE C (SERIES 2022) WAS USED TO REFUND SERIES 2012 WHICH WAS ISSUED OCTOBER 30, 2012. SCHEDULE K, PART III, LINE 3: FOR BOND ISSUE A (SERIES 2017B), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $1,345,180. FOR BOND ISSUE B (SERIES 2019), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $950,151. SCHEDULE K, PART III, COLUMN D: THE SERIES 2017A ISSUE REFUND A PORTION OF SERIES 2007 ISSUE ALLOCATED TO REFUNDING THE 1997 ISSUE, ORIGINALLY ISSUED ON MARCH 20, 1997. SINCE THIS IS THE ONLY PURPOSE OF SERIES 2017A, THIS ISSUE IS EXEMPT FROM REPORTING ON PART III OF SCHEDULE K. SCHEDULE K, PART IV, LINE 2C: FOR BOND A (SERIES 2008A) A REBATE CALCULATION WAS PERFORMED ON 8/31/2018, FOR BOND B (SERIES 2014), A REBATE CALCULATION WAS PERFORMED ON 10/7/2016, FOR BOND C (SERIES 2016) A REBATE CALCULATION WAS PERFORMED ON 6/8/2021, FOR BOND D (SERIES 2017A), A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022 AND FOR BOND A (SERIES 2017B) A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YAP4 2017-12-28 61875371 REFUNDING OF SERIES 2010 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YVR7 2019-09-26 135463087 VARIOUS CAPITAL PROJECTS 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2022-06-09 42540000 REFUNDING OF SERIES 2012 0 0 0 A 61875371 546236 61329135 2017 0 1 1 1 B 136413238 12401694 912875 114213582 8885087 0 0 0 1 C 42540000 42540000 2022 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 1 1 1 0 0.01000 0.01000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 JASMINE JONES DAUGHTER FORMER KE 50750 EMPL. COMP. 0 X 197 5365612 FAIR MARKET VALUE X 2 555514 FAIR MARKET VALUE X SUPPLIES/EQUIP 13 129461 FAIR MARKET VALUE 2 0 1 0 PART I, LINE 32B: THE NUMBER OF CONTRIBUTIONS IS DISCLOSED IN COLUMN B. FORM 990, PART I, LINE 20: THE UNIVERSITY IS FILING FORM 990 BASED ON ITS CONSOLIDATED FINANCIAL STATEMENT NUMBERS. THE UNIVERSITY FEELS THIS IS MORE TRANSPARENT TO THE PUBLIC AND GIVES MORE ACCURATE INFORMATION ON ITS OPERATIONS AS OPPOSED TO CARVING OUT ITS SUBSIDIARIES LISTED BELOW. BOTH ORGANIZATIONS ALSO FILE FORM 990 SEPARATELY. FOR THE FISCAL YEAR ENDED JUNE 30, 2022, WASHBURN PARK INC HAD NET ASSETS OF $26,250,545; REVENUE OF $492,483; AND EXPENSES OF $2,036,605. ADDITIONALLY, ASSISTMENTS FOUNDATION HAD NET ASSETS OF $236,621; REVENUE OF $2,642,983; AND EXPENSES OF $2,819,149. FORM 990, PART V, LINE 1A: THE 7,738 REPORTED ON THIS LINE INCLUDES THE FOLLOWING: 1098-T'S: 6,971 1099 NEC : 339 1099 MISC: 422 1099-K'S: 6 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS GEORGE OLIVER AND MARK RUSSELL HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. MANAGEMENT REVIEWS THE COMPLETED FORM 990 WITH THE TAX ADVISORS. THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, MANAGEMENT PROVIDES THE FORM 990, WITH THE EXCEPTION OF THE NAME AND ADDRESS OF THE DONORS LISTED ON SCHEDULE B, TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, ALL UNIVERSITY TRUSTEES, OFFICERS, AND KEY EMPLOYEES (AS DEFINED UNDER IRS RULES) ARE REQUIRED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT, IN WHICH THEY AFFIRM THAT: (A) THEY HAVE RECEIVED A COPY OF THE UNIVERSITY CONFLICT OF INTEREST POLICY; (B) THEY HAVE READ, UNDERSTAND AND AGREE TO COMPLY WITH THE UNIVERSITY CONFLICT OF INTEREST POLICY; (C) THEY UNDERSTAND THAT THE UNIVERSITY, AS A TAX-EXEMPT ORGANIZATION, MUST RESTRICT ITS ACTIVITIES PRIMARILY TO THOSE FOR WHICH ITS TAX-EXEMPT STATUS WAS GRANTED; AND (D) THE INFORMATION PROVIDED IN THE DISCLOSURE STATEMENT IS TRUE AND CORRECT TO THE BEST OF THEIR KNOWLEDGE. ADDITIONALLY, AS PART OF THE ANNUAL DISCLOSURE STATEMENT PROCESS, TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE ASKED TO DISCLOSE ANY CONFLICTS OF INTEREST, OR POTENTIAL CONFLICTS OF INTEREST, BASED ON THE QUESTIONS CONTAINED IN THE DISCLOSURE STATEMENT. AS MORE FULLY DESCRIBED IN THE CONFLICT OF INTEREST POLICY, THERE IS A WELL-DEFINED PROCESS FOR THE COLLECTION OF RESPONSES TO THE ANNUAL DISCLOSURE STATEMENT AND A REVIEW OF THE RESPONSES BY THE OFFICE OF GENERAL COUNSEL AND THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES. ULTIMATELY, THE AUDIT AND RISK COMMMITEE MAKES A REPORT AND DETERMINATION OF WHETHER A CONFLICT EXISTS, AND, IF SO, HOW THE CONFLICT WILL BE MANAGED OR ELIMINATED. THE CHAIR OF THE AUDIT AND RISK COMMITTEE PERIODICALLY REPORT TO THE BOARD ON CONFLICTS IDENTIFIED AND THE CONFLICT MANAGEMENT MEASURES ADOPTED BY THE AUDIT AND RISK COMMITTEE. IN CASES WHERE THE CONFLICT OF INTEREST INVOLVES AN OFFICER OF THE BOARD OR THE PRESIDENT OF THE UNIVERSITY, THE DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS AND, IF SO, HOW TO MANAGE OR ELIMINATE IT, IS A DUAL EFFORT BY THE AUDIT AND RISK COMMITTEE AND THE NOMINATIONS AND GOVERNANCE COMMITTEE WITH THE BOARD OF TRUSTEES MAKING THE FINAL DETERMINATION AND PLANS FOR RESOLUTION. ANY CONFLICTED TRUSTEES ARE RECUSED FROM THE PROCESS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE UNIVERSITY'S PRESIDENT AND OTHER TOP MANAGEMENT IS MODELED AFTER THE REQUIREMENTS IN FEDERAL REGULATIONS 53.4958-6(A), REBUTTABLE PRESUMPTION THAT A TRANSACTION IS NOT AN EXCESS BENEFIT TRANSACTION, TO ESTABLISH THE PRESUMPTION OF REASONABLE COMPENSATION. COMPENSATION IS REVIEWED AND APPROVED BY THE INDEPENDENT MEMBERS OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. IN REVIEWING COMPENSATION, THE COMMITTEE UTILIZES AN INDEPENDENT COMPENSATION CONSULTANT, COMPARABLE MARKET DATA FROM PUBLISHED SURVEYS AND FEDERAL FORM 990S OF COMPARABLE ORGANIZATIONS IN EVALUATING THE COMPENSATION FOR EACH INDIVIDUAL. THE COMMITTEE CONDUCTS A REVIEW OF THIS COMPARABILITY DATA, SETS COMPENSATION WITHIN A RANGE OF COMPARABLE ORGANIZATIONS, AND DOCUMENTS ITS DELIBERATION AND DISCUSSION IN MINUTES THAT ARE RETAINED WITH THE OTHER GOVERNANCE MATERIALS OF THE UNIVERSITY. THE MOST RECENT COMPENSATION STUDY WAS CONDUCTED IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON ITS WEBSITE (WWW.WPI.EDU). FORM 990, PART XI, LINE 9: NET UNREALIZED LOSS ON BENEFICIAL INTEREST IN TRUSTS -2,391,316. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 601,979. NET UNREALIZED GAIN ON SWAPS 3,446,490. GATEWAY PARK LLC 100 INSTITUTE ROAD WORCESTER MA 01609 043494779 REAL EST. DEV MA 773254 8590000 WPI WASHBURN PARK INC 100 INSTITUTE ROAD WORCESTER MA 01609 271189816 INFRASTRUCTURE MA 501(C)(3) LINE 10 WPI 1 ASSISTMENTS FOUNDATION 482 SOUTHBRIDGE ST 398 AUBURN MA 01501 834228740 EDUCATION MA 501(C)(3) LINE 12A, I WPI 1 CHARITABLE REMAINDER TRUSTS (23) 100 INSTITUTE ROAD WORCESTER MA 01609 CHAR TRUSTS MA N/A T 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 WASHBURN PARK INC D 10848650 COST WASHBURN PARK INC A 184600 FMV ASSISTMENTS FOUNDATION B 1617574 CASH