2023-05-08T07:00:08-05:00 2022-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2021-07-01 042108376 WESTERN NEW ENGLAND UNIVERSITY WEST 4137821219 1215 WILBRAHAM ROAD SPRINGFIELD MA 01119 BASIL STEWART VP FINANCE & ADMIN 4137821219 2023-05-05 1 BASIL STEWART 999009999 SMITA BALIGA P01642371 6179881000 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ROBERT JOHNSON 1215 WILBRAHAM ROAD SPRINGFIELD MA 01119 175680283 0 X WWW.WNE.EDU X 1951 MA THE UNIVERSITY IS A PRIVATE EDUCATIONAL INSTITUTION WHICH AWARDS UNDERGRADUATE, MASTER, AND DOCTORAL DEGREES IN ARTS AND SCIENCES, BUSINESS, ENGINEERING, PHARMACY, LAW AND OCCUPATIONAL THERAPY. 27 25 2022 1090 0 0 6921423 10684838 152755728 157601670 2458493 3748183 1055156 1303555 163190800 173338246 55532589 62869761 0 0 69051902 66924204 44604 0 884427 36191359 40336238 160820454 170130203 2370346 3208043 275995045 259613944 125719665 121210801 150275380 138403143 X SEE SCHEDULE O 0 0 102370925 52276702 104584106 THE UNIVERSITY OFFERS FULL AND PART-TIME UNDERGRADUATE PROGRAMS ANNUALLY THAT SERVE APPROXIMATELY 2,600 STUDENTS. THE UNIVERSITY ATTRACTS STUDENTS FROM 38 STATES, U.S. VIRGIN ISLANDS, BERMUDA, AND 22 FOREIGN COUNTRIES. STUDENTS ARE OFFERED AN OPPORTUNITY TO STUDY IN APPROXIMATELY 50 UNDERGRADUATE DEGREE PROGRAMS. 29889714 10072359 32802292 IN ADDITION TO A WIDE RANGE OF UNDERGRADUATE DEGREE PROGRAMS, THE UNIVERSITY OFFERS A NUMBER OF GRADUATE PROGRAMS AND FIRST PROFESSIONAL OPPORTUNITIES IN ARTS AND SCIENCES, BUSINESS, ENGINEERING, LAW, AND PHARMACY. THE UNIVERSITY ALSO OFFERS PH.D. PROGRAMS IN BEHAVIORAL ANALYSIS AND ENGINEERING MANAGEMENT AND A DOCTORAL PROGRAM IN OCCUPATIONAL THERAPY. 18728194 520700 21103472 THE UNIVERSITY OFFERS RESIDENTIAL OPPORTUNITIES TO FULL-TIME UNDERGRADUATES AND PROFESSIONAL STUDENTS THROUGH A VARIETY OF LIVING ARRANGEMENTS VARYING FROM TRADITIONAL DORMITORY SETTINGS TO APARTMENTS AND SUITES. APPROXIMATELY 1,500 STUDENTS LIVE ON CAMPUS DURING THE ACADEMIC YEAR. 150988833 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 186 0 1 2022 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X X BASIL STEWART 4137821288 1215 WILBRAHAM ROAD SPRINGFIELD MA 01119 DR ROBERT E JOHNSON PRESIDENT 40.00 X X 655292 0 21095 WENDY A BENSON TRUSTEE 1.00 X 0 0 0 MARK L BERTHIAUME TRUSTEE (UNTIL 5/9/22) 1.00 X 0 0 0 NEVILLE S BOGLE TRUSTEE 1.00 X 0 0 0 JOHN J BRENNAN VICE CHAIRMAN 1.00 X X 0 0 0 CARMEL A CARAMAGNA TRUSTEE 1.00 X 0 0 0 RICHARD M CASSATA TRUSTEE 1.00 X 0 0 0 ROBERT W CLARKE SECRETARY 1.00 X X 0 0 0 ALEXANDER M CORL TRUSTEE 1.00 X 0 0 0 KEVIN S DELBRIDGE TRUSTEE 1.00 X 0 0 0 DIANNE F DOHERTY TRUSTEE 1.00 X 0 0 0 MICHAEL J FLYNN TRUSTEE 1.00 X 0 0 0 DENIS G GAGNON TRUSTEE 1.00 X 0 0 0 DIANE E HOLMAN TRUSTEE 1.00 X 0 0 0 STEVEN P KITROSSER TRUSTEE 1.00 X 0 0 0 STANLEY KOWALSKI III TRUSTEE 1.00 X 0 0 0 NICHOLAS LAPIER TRUSTEE 1.00 X 0 0 0 DR BARBARA A LENK TRUSTEE (UNTIL 4/24/22) 1.00 X 0 0 0 AMY B LEWIS TRUSTEE 1.00 X 0 0 0 KENNETH M RICKSON CHAIRMAN 1.00 X X 0 0 0 STEPHEN J ROURKE TRUSTEE 1.00 X 0 0 0 ROBERT E SALAD TRUSTEE 1.00 X 0 0 0 DEBORAH K SAREMI TRUSTEE 1.00 X 0 0 0 MICHAEL A SERAFINO TRUSTEE (UNTIL 10/28/21) 1.00 X 0 0 0 PETER STEINGRABER TRUSTEE 1.00 X 0 0 0 GARY F THOMAS TREASURER 1.00 X X 0 0 0 STEVEN J TREMBLAY TRUSTEE 1.00 X 0 0 0 KATHLEEN A WHITE TRUSTEE 1.00 X 0 0 0 MICHAEL GAINES TRUSTEE (AS OF 7/1/21) 1.00 X 0 0 0 ELENA GERVINO TRUSTEE (AS OF 7/1/21) 1.00 X 0 0 0 DR RICHARD A WAGNER VP FIN & ADMIN (UNTIL 06/30/21) 40.00 X 153362 0 10065 CURT HAMAKAWA INTERIM PROVOST (UNTIL 7/31/21) 40.00 X 199325 0 5966 DR S HOSSEIN CHERAGHI DEAN, COLLEGE OF ENGINEERING 40.00 X 227485 0 19489 DR LINDA E JONES PROF OF MATERIAL SCI & ENG 40.00 X 224291 0 11396 SUDHA SETTY DEAN, SCHOOL OF LAW 40.00 X 243392 0 6614 BRYAN GROSS VP FOR ENROLLMENT MGMT & MARKETING 40.00 X 236416 0 18541 CHERYL SMITH GENERAL COUNSEL (UNTIL 6/30/21) 40.00 X 247022 0 7740 2186585 0 100906 107 0 1 0 ARAMARK CORPORATIONS PO BOX 978839 DALLAS TX 753978839 FOOD SERVICES 5495016 CLINICAL RESEARCH SEQUENCING PLATFORM LL 415 MAIN STREET CAMBRIDGE MA 02142 COVID-19 TESTING SERVICE 766250 MARKET MENTORS LLC 155 BROOKSIDE DR SPRINGFIELD MA 01104 MARKETING AND ADVERTISING 652301 3 ENROLLMENT MARKETING INC 352 MAIN ST 333 ONEONTA NY 13820 ENROLLMENT MARKETING 312404 KPMG LLP PO BOX 120511 DALLAS TX 75312 AUDIT & TAX SERVICES 256698 10 42668 8889025 1753145 3713 10684838 TUITION AND FEES 611710 134003757 134003757 AUXILIARY SALES AND SE 611710 21103472 21103472 SPONSORED PROGRAMS 611710 2372631 2372631 INTEREST ON STUDENT LO 611710 121810 121810 157601670 1056021 1056021 35589 35589 55810 0 55810 55810 55810 5000897 2308735 2692162 2692162 2692162 45632 42668 33302 12330 12330 STUDENT/ALUMNI FUNDRAI 611710 466381 466381 SERVICE REVENUE 611710 225761 225761 EVENTS REGISTRATION 611710 94745 94745 412939 101313 311626 1199826 173338246 158489870 0 4163538 62026201 62026201 843560 843560 1156087 259127 868543 28417 91026 91026 50208455 42248576 7419204 540675 845092 699629 136116 9347 10574063 8739115 1699668 135280 4049481 3352460 652234 44787 447671 7836 439835 228712 228712 269235 269235 9001778 8019817 980071 1890 1488111 500063 941845 46203 3267276 2753111 489340 24825 2130167 587940 1542227 4404854 3921636 483218 1249457 1183693 52274 13490 988515 905597 76725 6193 4312291 4165144 147147 8726908 8231797 495111 766344 79226 687118 MAINTENANCE AND REPAIRS 1561306 1413577 147729 NONCAPITALIZED EQUIPMNT 453993 356579 96483 931 MEMBERSHIPS AND DUES 327095 138913 155793 32389 NONCAPITALIZED IMPRVMNT 47618 44974 2644 664907 419236 245671 170130203 150988833 18256943 884427 29692783 32019473 2245725 1956691 2182767 2212879 2190673 1727861 30337 24143 3301900 2660599 299473002 160627202 144655706 138845800 60088687 50790162 31606467 29376336 275995045 259613944 14722937 13177786 1924095 1514851 8676190 8748640 96700753 94500936 2657680 2637298 1038010 631290 125719665 121210801 X 99498401 94120361 50776979 44282782 150275380 138403143 275995045 259613944 X 3208043 -14960845 -119435 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 71333272 506338 -8466937 3592346 50461 202043 59527823 56995119 392708 17918011 3736061 41162 195343 71333272 56682994 3007111 222904 2687799 35176 194915 56995119 52938044 3478912 2842872 2379255 29085 168494 56682994 50581333 366117 4546097 2366321 24872 164310 52938044 0.39000 0.61000 0 0 4525765 4525765 230616625 108103111 122513514 63815115 52524091 11291024 515497 515497 138845800 HEDGE FUNDS 12846705 F INVESTMENTS HELD IN TRUST 759835 F REAL ESTATE FUND 6776493 F LONG/SHORT EQUITY INVEST 8993303 F 29376336 DEPOSITS 631290 631290 X 157988731 -14960845 -119435 -15080280 173069011 269235 269235 173338246 169860968 0 169860968 269235 269235 170130203 PART IV, LINE 2B: AGENCY FUNDS ARE HELD BY THE UNIVERSITY AS A CUSTODIAN OR FISCAL AGENT. FUNDS MAY BE HELD FOR STUDENT OR PARENT BASED ORGANIZATIONS AND ORIGINATE FROM THE COLLECTION OF ACTIVITY FEES, DUES OR FUNDRAISING EFFORTS. THE FUNDS ARE DEPOSITED WITH THE UNIVERSITY FOR SAFEKEEPING AND CAN BE SUBSEQUENTLY USED OR WITHDRAWN BY THE DEPOSITOR UPON THE SUBMISSION OF PROPER AUTHORIZATION AND DOCUMENTATION. EXPENDITURES FROM THE FUND PRIMARILY SUPPORT STUDENT CLUBS AND ACTIVITIES. EACH AGENCY FUND EXISTS AS A UNIQUE COST CENTER WITHIN THE UNIVERSITY'S FINANCIAL SYSTEM AND PROVIDES A METHOD FOR ACCOUNTING FOR AND ADMINISTERING THESE FUNDS. PART V, LINE 4: THE UNIVERSITY RECEIVES DONATIONS THROUGH THE ADVANCEMENT OFFICE. IT IS THE RESPONSIBILITY OF THE ADVANCEMENT OFFICE TO CLARIFY, IN WRITING, ANY AMBIGUITY ON GIFTS TO ENSURE THAT THE DONOR'S INTENTIONS ARE ADHERED TO. ANY RESTRICTED DONATIONS ARE INDICATED AS SUCH BY THE ADVANCEMENT OFFICE AND REVIEWED BY THE CONTROLLER'S OFFICE TO ENSURE PROPER RECORDING AND THAT THE DONOR'S INTENTIONS ARE FULFILLED. APPROXIMATELY 46% OF THE UNIVERSITY'S ENDOWMENT FUND IS QUASI-ENDOWMENT FUNDS THAT HAVE BEEN ESTABLISHED THROUGH SOUND FISCAL MANAGEMENT OF THE UNIVERSITY WITH THE REMAINING FUNDS ESTABLISHED THROUGH DONOR RESTRICTED DONATIONS. THE MAJORITY OF THE PERMANENTLY RESTRICTED ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS AND AWARDS FOR UNDERGRADUATE AND LAW STUDENTS. THE BOARD-APPROVED RATE OF 5% IS APPLIED TO A 13-QUARTER ROLLING AVERAGE MARKET VALUE TO DETERMINE EACH ENDOWMENT'S DISTRIBUTABLE EARNINGS AND THE ACTUAL SPENDING RATE FOR FISCAL YEAR 2022 WAS 5.11%. PART X, LINE 2: IN NOVEMBER 1956, THE UNIVERSITY WAS GRANTED EXEMPT STATUS UNDER THE INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). UNDER IRC SECTION 501(A), THE UNIVERSITY IS GENERALLY EXEMPT FROM INCOME TAXES. THE UNIVERSITY ASSESSES UNCERTAIN TAX POSITIONS AND BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS -119,435. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WESTERN NEW ENGLAND UNVERSITY'S NONDISCRIMINATION POLICY IS SPECIFICALLY STATED IN THEIR BY-LAWS AND IS INCLUDED IN ALL PRINTED MATERIALS. THE POLICY IS POSTED TO THE UNIVERSITY'S WEBSITE WWW.WNE.EDU. SCHEDULE E, PART I, LINE 6 GOVERNMENT FINANCIAL AID AND ASSISTANCE FROM GOVERNMENTAL AGENCIES CONSISTS OF US DEPARTMENT OF EDUCATION FINANCIAL AID, STATE OF MASSACHUSETTS FINANCIAL AID, AND FEDERAL AND STATE RESEARCH AND DEVELOPMENT FUNDS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 60570 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 190430 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 290490 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 25000 NORTH AMERICA 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 50150 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 14180 SOUTH AMERICA 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 77000 SOUTH ASIA 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 83340 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES UNDERGRAD EDUCATION 52400 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12846704 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES STUDY ABROAD 158634 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES INDIVIDUAL TRIPS 2892 SUB-SAHARAN AFRICA PROGRAM SERVICES INDIVIDUAL TRIPS 2065 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES ATHLETICS TEAM TRIPS 132874 0 0 0 0 0 0 791160 13195569 13986729 INSTITUTIONAL SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 2 60570 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP EAST ASIA AND THE PACIFIC 9 190430 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 15 290490 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 2 25000 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP NORTH AMERICA 3 50150 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP RUSSIA AND NEIGHBORING STATES 1 14180 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP SOUTH AMERICA 3 77000 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP SOUTH ASIA 6 83340 ACCOUNT CREDIT INSTITUTIONAL SCHOLARSHIP SUB-SAHARAN AFRICA 5 52400 ACCOUNT CREDIT 0 0 1 1 0 1 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS OUTSIDE THE U.S. INSTITUTIONAL FINANCIAL AID GRANTS ARE AWARDED TO FOREIGN STUDENTS CONSISTENT WITH THE UNIVERSITY'S FINANCIAL AID POLICIES AND RECRUITMENT TARGETS. ALL FINANCIAL AID GRANTS ARE APPLIED DIRECTLY TO EACH RECIPIENT'S STUDENT ACCOUNT. INTERNATIONAL STUDENTS MUST BE IN GOOD STANDING TO RECEIVE AND MAINTAIN THEIR AWARDS ACCORDING TO THE TERMS, CONDITIONS AND ELIGIBILITY REQUIREMENTS ASSOCIATED WITH EACH AWARD. FINANCIAL AID ACTIVITY IS POSTED TO STUDENT ACCOUNTS AND THE GENERAL LEDGER VIA A FINANCIAL AID TRANSMITTAL PROCESS. FINANCIAL AID, STUDENT ACCOUNTS AND THE GENERAL LEDGER RECORDS ARE RECONCILED ON AN ONGOING BASIS THROUGH A COLLABORATIVE EFFORT OF STAFF FROM THE FINANCIAL AID OFFICE, BURSAR'S OFFICE AND CONTROLLER'S OFFICE. PART I, LINE 3: FOREIGN EXPENDITURES AND INVESTMENTS EXPENDITURES IN COLUMN F ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. THE VALUE OF INVESTMENTS REPORTED IN COLUMN F IS REPORTED BASED ON THE FAIR MARKET VALUE AS OF JUNE 30, 2022, IN ACCORDANCE WITH US GAAP. PART III ACCOUNTING METHOD: ALUMNI GOLF TRN 41305 16118 25187 2415 10710 6287 245 ATHLTS GOLF TRN 46995 26550 20445 2680 6708 3700 557 88300 42668 45632 5095 17418 9987 802 33302 12330 1 SEOG FEDERAL FINANCIAL AID 123 326278 FEDERAL HEERF EMERGENCY STUDENT AID 2296 3496600 INSTITUTIONAL SCHOLARSHIPS 2812 58203323 PART I, LINE 2: MONITOR THE USE OF GRANT FUNDS IN THE U.S.: ALL GRANT FUNDS ARE MONITORED BY AT LEAST TWO DIFFERENT DEPARTMENTS WHICH CREATES CHECKS AND BALANCES TO ENSURE THAT THE FUNDS ARE TRACKED, REPORTED AND USED AS REQUIRED IN THE GRANT LANGUAGE. TITLE IV GRANT FUNDS ARE AWARDED BY THE FINANCIAL AID OFFICE AND APPLIED TO THE STUDENT'S ACCOUNT VIA FINANCIAL AID TRANSMITTAL. AS STUDENTS COMPLETE THEIR REQUIREMENTS FOR RECEIVING AID, WEEKLY TRANSMITTALS ARE RUN AND STUDENTS, WITH THE PROPER CODING ARE SELECTED TO RECEIVE AID. THE TRANSMITTAL GENERATES A LISTING OF EACH AWARD, BY TYPE WITH TOTALS, AND IS USED TO RECORD THE GRANT EXPENSE TO THE GENERAL LEDGER. FEDERAL AWARDS AND GRANTS ARE VERIFIED TO A RECEIVABLE IN THE GENERAL LEDGER THAT IS RECORDED FROM AN AUTHORIZATION LETTER AND TO THE AVAILABLE BALANCE IN THE G5 PAYMENT MANAGEMENT SYSTEM. IF THE AVAILABLE BALANCE IS SUFFICIENT, THE FUNDS ARE DRAWN DOWN THROUGH THE G5 PAYMENT MANAGEMENT SYSTEM INTO THE FEDERAL FUNDS CHECKING ACCOUNT. A BANK ACH REPORT IS GENERATED TO VERIFY THAT THE FUNDS ARE RECEIVED. THE GENERAL LEDGER ACCOUNTS ARE VERIFIED TO GRANTS BY TYPE ON THE FINANCIAL AID SYSTEM AND BILLING TRANSACTIONS ON THE BILLING FILE. THESE SYSTEMS ARE RECONCILED ON A MONTHLY BASIS. PART III, LINE 3 FEDERAL HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF): EMERGENCY STUDENT AID THE UNIVERSITY RECEIVED CERTAIN FUNDING UNDER HIGHER EDUCATION EMERGENCY RELIEF FUND TO PROVIDE AID TO STUDENTS DURING THE YEARS THAT ENDED JUNE 30, 2020 AND JUNE 30, 2021. NO ADDITIONAL HEERF FUNDING WAS RECEIVED DURING THE YEAR THAT ENDED JUNE 30, 2022. THE HEERF FUNDS WERE AWARDED TO PROVIDE EMERGENCY FINANCIAL AID GRANTS TO STUDENTS UNDER THE 18004 (A) (1) CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT. THE ENTIRE REMAINING HEERF FUNDING OF $3,496,600 AS OF JUNE 30, 2021 WAS DISBURSED TO STUDENTS AS OF JUNE 30, 2022 TO ASSIST STUDENTS WITH THE ONGOING CONSEQUENCES OF THE PANDEMIC. THERE ARE NO REMAINING HEERF FUNDING AS OF JUNE 30, 2022. X 1 1 X X X X 1 0 0 0 0 0 0 1 0 DR ROBERT E JOHNSON PRESIDENT 504886 0 95000 0 55406 0 19128 0 1967 0 676387 0 0 0 BRYAN GROSS VP FOR ENROLLMENT MGMT & MARKETING 236305 0 0 0 111 0 4253 0 14288 0 254957 0 0 0 CHERYL SMITH GENERAL COUNSEL (UNTIL 6/30/21) 101819 0 0 0 145203 0 2009 0 5731 0 254762 0 0 0 SUDHA SETTY DEAN, SCHOOL OF LAW 243226 0 0 0 166 0 4574 0 2040 0 250006 0 0 0 DR S HOSSEIN CHERAGHI DEAN, COLLEGE OF ENGINEERING 226754 0 0 0 731 0 4647 0 14842 0 246974 0 0 0 DR LINDA E JONES PROF OF MATERIAL SCI & ENG 223560 0 0 0 731 0 4529 0 6867 0 235687 0 0 0 CURT HAMAKAWA INTERIM PROVOST (UNTIL 7/31/21) 198594 0 0 0 731 0 3992 0 1974 0 205291 0 0 0 DR RICHARD A WAGNER VP FIN & ADMIN (UNTIL 06/30/21) 122600 0 0 0 30762 0 2530 0 7535 0 163427 0 0 0 PART I, LINE 1A BENEFITS THROUGH HIS EMPLOYMENT CONTRACT, THE PRESIDENT RECEIVES A HOUSING ALLOWANCE. THE PRESIDENT'S HOUSING ALLOWANCE IS INCLUDED IN HIS TAXABLE COMPENSATION. ALSO, THROUGH HIS EMPLOYMENT CONTRACT, THE PRESIDENT MAY RECEIVE MEMBERSHIPS TO APPROPRIATE ORGANIZATIONS FOR THE BENEFIT OF THE INSTITUTION. REIMBURSEMENT OR PAYMENT OF MEMBERSHIPS OR ANY OTHER ELIGIBLE EXPENSES ARE REIMBURSED OR PAID BY THE UNIVERSITY PURSUANT TO ITS NORMAL EXPENSE REIMBURSEMENT POLICIES AND PROCEDURES. IN ADDITION, THROUGH HIS EMPLOYMENT CONTRACT, THE PRESIDENT RECEIVES A VEHICLE ALLOWANCE. THE VALUE OF THE VEHICLE ALLOWANCE IS INCLUDED IN THE PRESIDENT'S W-2 WAGES. THE PRESIDENT IS ELIGIBLE TO PARTICIPATE IN ALL STANDARD UNIVERSITY BENEFIT PLANS AS WELL AS ANY OTHER SUPPLEMENTAL BENEFIT PLANS PURSUANT TO HIS CONTRACT. PART I, LINE 4A LINE 4A: CHERYL SMITH RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $144,486 IN 2021 WHICH IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). RICHARD WAGNER, RECEIVED A SUPPLEMENTAL COMPENSATION PAYMENT OF $30,000 DURING CY2021 AS PART OF HIS RETIREMENT (6/30/2021) AGREEMENT, WHICH IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 PURSUANT TO HIS EMPLOYMENT CONTRACT, THE PRESIDENT IS ELIGIBLE TO RECEIVE AN ANNUAL INCENTIVE BONUS IN THE FORM OF A SUPPLEMENTAL COMPENSATION PAYMENT. THE TARGET BONUS AMOUNT, DETERMINED IN THE SOLE DISCRETION OF THE BOARD, IS EQUAL TO 20% OF THE PRESIDENT'S ANNUAL BASE SALARY. THE DETERMINATION OF WHETHER TO AWARD AN ANNUAL INCENTIVE BONUS SHALL BE INFORMED AND GUIDED, AT LEAST IN PART, BY THE PRESIDENT'S ANNUAL EVALUATION AS SPECIFIED IN HIS CONTRACT. PER THE PROVISIONS OF THE CONTRACT, THE PRESIDENT SHALL BE NOTIFIED ON OR BEFORE JUNE 1 OF THE AMOUNT, IF ANY, OF THE INCENTIVE BONUS WHICH SHALL THEN BE PAID WITHIN 14 DAYS THEREAFTER. A MDFA - SERIES 2009 - REISSUED 2012 043431814 000000000 2008-05-29 5000000 CONSTRUCTION - LAW SCHOOL ADDITION 0 0 0 B MDFA - SERIES 2015 043431814 57584XHE5 2015-12-22 39201607 REFUND ISSUE 10/19/05, NEW DINING HALL 0 0 0 C MDFA - SERIES 2018 043431814 57584YHJI 2018-06-20 61551133 REFUND ISSUE 11/09/09, 12/20/11 NEW DINING HALL 0 0 0 A 3072948 5000000 61819 4938181 2008 0 0 1 1 B 3695000 39201607 462177 8079556 30659874 2017 1 0 1 1 C 1840000 61551133 669480 18032220 42849433 2018 1 0 1 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 PART III, QUESTION 3A FOR BONDS A, B AND C, ANY MANAGEMENT OR SERVICE CONTRACTS THAT MAY RESULT IN PRIVATE BUSINESS US OF BOND-FINANCED PROPERTY FALL WITHIN THE INCIDENTAL USE EXCEPTION. PART IV, QUESTION 2C DATE OF REBATE COMPUTATION, THE REBATE COMPUTATIONS WERE PERFORMED AS FOLLOWS: MDFA SERIES 2008 - REISSUED 2012 - CALCULATION COMPLETED ON 10/30/2017 AND THE 6 MONTH SPENDING EXCEPTION APPLIES. MDFA SERIES 2015 - INTERIM CALCULATION COMPLETED ON 12/22/2021, NOT DUE UNTIL 12/22/2025. MDFA SERIES 2018 - INTERIM CALCULATION COMPLETED ON 06/20/2022, NOT DUE UNTIL 06/20/2023. Y BOGLE SPOUSE OF TRUSTEE 91026 EMPLOYMENT COMPENSATION 0 SUBSTANTIAL CONTRIBUTOR SUBST. CONTRIBUTOR 210479 ATHLETIC APPAREL VENDOR 0 FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION WESTERN NEW ENGLAND UNIVERSITY, A COMPREHENSIVE PRIVATE INSTITUTION WITH A TRADITION OF EXCELLENCE IN TEACHING AND SCHOLARSHIP AND A COMMITMENT TO SERVICE, AWARDS UNDERGRADUATE, MASTER'S, AND DOCTORAL DEGREES IN VARIOUS DEPARTMENTS FROM AMONG OUR COLLEGES OF ARTS AND SCIENCES, BUSINESS, ENGINEERING, AND PHARMACY AND HEALTH SCIENCES, AND SCHOOL OF LAW. ONE OF ONLY A FEW U.S. COMPREHENSIVE INSTITUTIONS ENROLLING UNDER 5,000 STUDENTS RECOGNIZED WITH NATIONAL AND INTERNATIONAL ACCREDITATIONS AT THE HIGHEST LEVELS IN LAW, BUSINESS, ENGINEERING, AND SOCIAL WORK, WE SERVE STUDENTS PREDOMINANTLY FROM THE NORTHEASTERN U.S., BUT ENROLL STUDENTS FROM ACROSS THE COUNTRY AND AROUND THE WORLD. THE VAST MAJORITY OF UNDERGRADUATE STUDENTS RESIDE ON CAMPUS. OUR 215-ACRE CAMPUS IN SPRINGFIELD, MASSACHUSETTS, IS REMARKABLE FOR ITS BEAUTY, SECURITY, AND METICULOUS UPKEEP. OUR MISSION: THE HALLMARK OF THE WESTERN NEW ENGLAND UNIVERSITY EXPERIENCE IS AN UNWAVERING FOCUS ON AND ATTENTION TO EACH STUDENT'S ACADEMIC AND PERSONAL DEVELOPMENT, INCLUDING LEARNING OUTSIDE THE CLASSROOM. FACULTY, DEDICATED TO EXCELLENCE IN TEACHING AND RESEARCH, AND OFTEN NATIONALLY RECOGNIZED IN THEIR FIELDS, TEACH IN AN ENVIRONMENT OF WARMTH AND PERSONAL CONCERN WHERE SMALL CLASSES PREDOMINATE. ADMINISTRATIVE AND SUPPORT STAFF WORK COLLABORATIVELY WITH FACULTY IN ATTENDING TO STUDENT DEVELOPMENT SO THAT EACH STUDENT'S ACADEMIC AND PERSONAL POTENTIAL CAN BE REALIZED AND APPRECIATED. WESTERN NEW ENGLAND UNIVERSITY DEVELOPS LEADERS AND PROBLEM-SOLVERS FROM AMONG OUR STUDENTS, WHETHER IN ACADEMICS, INTERCOLLEGIATE ATHLETICS, EXTRACURRICULAR AND COCURRICULAR PROGRAMS, COLLABORATIVE RESEARCH PROJECTS WITH FACULTY, OR IN PARTNERSHIP WITH THE LOCAL COMMUNITY. AT WESTERN NEW ENGLAND UNIVERSITY, EXCELLENCE IN STUDENT LEARNING GOES HAND IN HAND WITH THE DEVELOPMENT OF PERSONAL VALUES SUCH AS INTEGRITY, ACCOUNTABILITY, AND CITIZENSHIP. STUDENTS ACQUIRE THE TOOLS TO SUPPORT LIFELONG LEARNING AND THE SKILLS TO SUCCEED IN THE GLOBAL WORKFORCE. EQUALLY IMPORTANT, ALL MEMBERS OF OUR COMMUNITY ARE COMMITTED TO GUIDING STUDENTS IN THEIR DEVELOPMENT TO BECOME INFORMED AND RESPONSIBLE LEADERS IN THEIR LOCAL AND GLOBAL COMMUNITIES BY PROMOTING A CAMPUS CULTURE OF RESPECT, TOLERANCE, ENVIRONMENTAL AWARENESS, AND SOCIAL RESPONSIBILITY. WE ARE POSITIONED WELL TO ACCOMPLISH THESE GOALS AS A TRULY COMPREHENSIVE INSTITUTION WHOSE FACULTY AND STAFF HAVE HISTORICALLY COLLABORATED IN OFFERING AN INTEGRATED PROGRAM OF LIBERAL AND PROFESSIONAL LEARNING IN THE DIVERSE FIELDS OF ARTS AND SCIENCES, BUSINESS, ENGINEERING, LAW, AND PHARMACY. OUR CORE VALUES: *EXCELLENCE IN TEACHING, RESEARCH, AND SCHOLARSHIP, UNDERSTANDING THAT OUR PRIMARY PURPOSE IS TO PROVIDE AN OUTSTANDING EDUCATION SUPPORTED BY FACULTY WITH THE HIGHEST ACADEMIC CREDENTIALS, AND WITH NATIONAL PROMINENCE IN THEIR FIELDS. *STUDENT-CENTERED LEARNING, PROVIDING AN INDIVIDUALIZED APPROACH TO EDUCATION WHICH INCLUDES A PROFOUND COMMITMENT TO SMALL CLASS SIZES, PERSONALIZED STUDENT-FACULTY RELATIONSHIPS, AND STUDENT ENGAGEMENT AND PERSONAL GROWTH BOTH WITHIN AND BEYOND THE CLASSROOM. *A SENSE OF COMMUNITY, TREATING EVERY INDIVIDUAL AS A VALUED MEMBER OF OUR COMMUNITY WITH A SHARED SENSE OF PURPOSE AND OWNERSHIP MADE POSSIBLE BY MUTUAL RESPECT AND SHARED GOVERNANCE. *CULTIVATION OF A PLURALISTIC SOCIETY, CELEBRATING THE DIVERSITY OF OUR COMMUNITY, LOCALLY AND GLOBALLY, AND CREATING A COMMUNITY THAT FOSTERS TOLERANCE, INTEGRITY, ACCOUNTABILITY, CITIZENSHIP, AND SOCIAL RESPONSIBILITY. *INNOVATIVE INTEGRATED LIBERAL AND PROFESSIONAL EDUCATION, CONSTITUTING THE FOUNDATION OF OUR UNDERGRADUATE AND GRADUATE CURRICULUM, PROVIDING GLOBAL EDUCATION, LEADERSHIP OPPORTUNITIES, AND CAREER PREPARATION. *COMMITMENT TO ACADEMIC, PROFESSIONAL, AND COMMUNITY SERVICE, PROMOTING OPPORTUNITIES FOR ALL CAMPUS COMMUNITY MEMBERS TO PROVIDE RESPONSIBLE SERVICE OF THE HIGHEST QUALITY TO OTHERS. *STEWARDSHIP OF OUR CAMPUS, CARING FOR THE SUSTAINABILITY AND AESTHETICS OF THE ENVIRONMENT BOTH WITHIN AND BEYOND THE CAMPUS. OUR VISION FOR APPROACHING OUR SECOND CENTURY: IN 2019 WESTERN NEW ENGLAND UNIVERSITY CELEBRATED ITS CENTENNIAL AS AN INSTITUTION OF HIGHER EDUCATION. OUR FOCUS WILL CONTINUE TO BE ON THE WHOLE STUDENT, BUT IN A TWENTY-FIRST CENTURY CONTEXT HIGHLIGHTING THE DEMANDS OF A DIVERSE AND GLOBAL SOCIETY, THE ACCELERATING PACE OF TECHNOLOGY, AND THE NECESSITY OF ATTENTION TO ENVIRONMENTAL SUSTAINABILITY. OUR NEXT DECADE WILL BE MARKED BY A CONTINUED DEDICATION TO EXCELLENCE, VISIONARY THINKING, FLEXIBILITY, AND ENTREPRENEURIAL SPIRIT. WE MUST CONTINUE TO DEVELOP AS A COMPREHENSIVE INSTITUTION OFFERING AN INTEGRATED PROGRAM OF LIBERAL AND PROFESSIONAL UNDERGRADUATE AND GRADUATE EDUCATION WHILE ESTABLISHING OURSELVES IN A POSITION OF REGIONAL LEADERSHIP AND NATIONAL RECOGNITION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE TRUSTEE AUDIT COMMITTEE REVIEWS THE FORM 990 BEFORE IT IS PASSED ON TO THE FULL BOARD REVIEW. THE AUDIT COMMITTEE'S REVIEW IS ACCOMPLISHED BY PROVIDING THE FORM AND ALL SCHEDULES AND ATTACHMENTS TO THE COMMITTEE THROUGH THE UNIVERSITY'S SECURE ONLINE WEBSITE. THE ENTIRE RETURN IS AVAILABLE THROUGH THE SECURE ONLINE WEBSITE AND THE COMMITTEE HAS THE OPPORTUNITY TO DISCUSS THE RETURN IN AN OPEN FORUM THAT IS VIEWED BY ALL. ONCE THE COMMITTEE REVIEWS THE RETURN TO ENSURE COMPLIANCE WITH FILING REQUIREMENTS, THE FULL BOARD IS GIVEN ACCESS TO THE SECURE ONLINE WEBSITE BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE UNIVERSITY ASKS BOTH TRUSTEES AS WELL AS ADMINISTRATIVE EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST STATEMENT EACH YEAR. THE TRUSTEES' STATEMENTS ARE REVIEWED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND HIS/HER DESIGNEE. IF ANY ISSUES AND/OR CONCERNS ARE FOUND, THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION BRINGS THE MATTER FORWARD, AS APPROPRIATE, TO ENSURE THAT ALL PARTIES ARE AWARE OF ANY ISSUES. AT HIS/HER DISCRETION, THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION MAY DECIDE TO ENGAGE EXTERNAL LEGAL COUNSEL TO REVIEW THE CIRCUMSTANCES OF ANY REPORTED CONFLICT AND PROVDE LEGAL ADVICE ON THE MATTER. ANY TRUSTEE WITH A CONFLICT ABSTAINS FROM ANY BOARD OR COMMITTEE VOTES AS DEEMED NECESSARY. EACH YEAR ALL ADMINISTRATIVE STAFF MUST REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A CONFLICT OF INTEREST STATEMENT. THESE STATEMENTS ARE FORWARDED TO THE HUMAN RESOURCE DEPARTMENT FOR REVIEW. ANY POTENTIAL CONFLICTS ARE BROUGHT FORWARD AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION 15A. THE COMPENSATION REVIEW PROCESS FOR THE PRESIDENT IS CONDUCTED THROUGH A COMPENSATION SUB-COMMITTEE OF TRUSTEES COMPRISED OF THE CHAIRMAN, VICE CHAIRMAN, SECRETARY AND TWO OTHER MEMBERS. THE SUB-COMMITTEE MEETS DURING THE YEAR TO REVIEW THE PRESIDENT'S PERFORMANCE RELATIVE TO THE PRIOR YEAR'S GOALS AND TO ESTABLISH THE COMING YEAR'S GOALS. THE SUB-COMMITTEE PERIODICALLY ENGAGES A THIRD PARTY TO CONDUCT AN INDEPENDENT REVIEW OF THE PRESIDENT'S COMPENSATION. THE THIRD-PARTY MAY BE ASKED TO ADVISE THE SUB-COMMITTEE OF TRENDS AND ANY OTHER PERTINENT INFORMATION WITH RESPECT TO BENCHMARKED PEER INSTITUTIONS. PEER INSTITUTIONS ARE DEFINED ACCORDING TO MEASURES UTILITIZING INSTITUTIONAL ORGANIZATIONAL COMPLEXITY SUCH AS SIZE AND BREADTH OF PROGRAMMING. ADDITIONALLY, THE SUB-COMMITTEE RELIES ON INTERNAL DATA REGARDING COMPENSATION CHANGES BEING CONSIDERED FOR OTHER UNIVERSITY POSITIONS. THE COMPENSATION SUB-COMMITTEE OF THE BOARD OF TRUSTEES RECOMMENDS TO THE EXECUTIVE COMMITTEE THE PRESIDENT'S COMPENSATION PACKAGE. ALL DOCUMENTATION IS KEPT BY THE CHAIRMAN OF THE BOARD. IN ADDITION, THE PRESIDENT'S OFFICE RETAINS A COPY OF THE PRESIDENT'S SELF-EVALULATION. THE MINUTES OF THE COMPENSATION SUB-COMMITTEE AND EXECUTIVE COMMITTEE ARE KEPT ON FILE IN THE PRESIDENT'S OFFICE. THESE MINUTES, WITH MOTIONS FOR COMPENSATION PACKAGES, ARE MAILED TO ALL TRUSTEES. THE COMPENSATION PROCESS MEETS THE REBUTTABLE PRESUMPTION STANDARD. THE COMMITTEE IS COMPRISED OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST REGARDING THE TRANSACTION, THE COMMITTEE RELIES ON APPROPRIATE INTERNAL AND EXTERNAL DATA AS TO BOTH COMPENSATION LEVEL AND COMPENSATION CHANGE PRIOR TO MAKING ITS DETERMINATION, AND THE COMMITTEE TIMELY AND ADEQUATELY DOCUMENTS THE DECISIONS REGARDING COMPENSATION. 15B. THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS MOST HEAVILY MEASURED AGAINST THE PERFORMANCE OF THE INDIVIDUALS AND CONTEMPORANEOUS PUBLISHED SALARY DATA FROM THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION'S (CUPA) SALARY LISTINGS FROM COMPARABLE INSTITUTIONS WITHIN THE SAME CARNEGIE CATEGORIES AS THE UNIVERSITY. THE PRESIDENT DETERMINES ANY INCREASES BASED ON PERFORMANCE AND COMPARABLE COMPENSATION DATA. HE REPORTS THE SALARY LEVELS OF THE KEY EMPLOYEES TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. COMPENSATION RECORDS ARE KEPT IN THE PRESIDENT'S OFFICE. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE THE IRS FORM 990 IS AVAILABLE UPON REQUEST FROM THE UNIVERSITY. IT IS POSTED, ALONG WITH THE AUDITED FINANCIAL STATEMENTS, ON THE UNIVERSITY'S WEBSITE (HTTPS://WWW1.WNE.EDU/CONTROLLER/FEDERAL%20990%20TAX%20RETURNS.CFM) AND THE WEBSITE OF THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE AT WWW.MASS.GOV. THE UNIVERSITY'S GOVERNING DOCUMENTS, ARTICLES OF INCORPORATION AND BY-LAWS MAY BE REQUESTED FROM THIS OFFICE AND ARE POSTED ON THE WEBSITE FOR THE MASSACHUSETTS SECRETARY OF STATE. THE CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE UNIVERSITY'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS -119,435. CHARITABLE REMAINDER TRUSTS (3) 1215 WILBRAHAM RD SPRINGFIELD MA 01119 CHARITABLE TR MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0