2022-05-05T19:30:27-05:00 2021-06-30 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2020-07-01 042121659 WORCESTER POLYTECHNIC INSTITUTE WORC 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 MICHAEL HORAN EXECUTIVE VP & CFO 5088315000 2022-05-16 1 MICHAEL HORAN XXX-XX-XXXX ERIN COUTURE P01390592 6177237900 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z LAURIN LESHIN 100 INSTITUTE ROAD WORCESTER MA 01609 402846330 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 28 3944 260 -672259 0 33087495 32507077 349848582 361959356 1456013 3458369 104845 228159 384496935 398152961 99872101 109923528 0 0 179829113 164629912 365178 102453 7766698 110865892 123858726 390932284 398514619 -6435349 -361658 1164375963 1309104658 512554819 505144441 651821144 803960217 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 280779032 103186718 321125623 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 4,900 UNDERGRADUATE AND 2,000 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 1,900 STUDENTS. DURING FISCAL YEAR 2021, THE UNIVERSITY AWARDED 1,016 BACHELOR, 742 MASTER AND 62 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. 38390621 6736810 36475638 AT THE UNIVERSITY, 221 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. 5313830 0 4358095 THE UNIVERSITY'S GRADUATE STUDIES DIVISION PROVIDES TAILOR-MADE PROGRAMS TO APPROXIMATELY 370 STUDENTS, MAINLY AT CORPORATE STUDENT SITES, USING INDUSTRY EXPERTS AND DEDICATED PROGRAM SUPPORT STAFF. THIS PRACTICAL APPROACH ADDS VALUE BY PROVIDING CLIENTS WITH KNOWLEDGE AND SKILLS THAT CAN BE DIRECTLY APPLIED TO THEIR REAL-WORLD JOB CHALLENGES. ADDITIONALLY DURING FISCAL YEAR 2021, APPROXIMATELY 535 INDIVIDUALS PARTICIPATED IN ONE OR MORE PROFESSIONAL WORKSHOPS OR SHORT COURSES. 324483483 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 1 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 1 1 0 0 1 X 7746 0 1 3944 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 30 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X MICHAEL HORAN 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 X JOHN MOLLEN CHAIRMAN 2.00 0.00 X X 0 0 0 JOYCE KLINE VICE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 ANDREW ABERDALE VICE CHAIRMAN & TRUSTEE 2.00 0.00 X X 0 0 0 JOSEPH ADAMS TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL ASPINWALL TRUSTEE 2.00 0.00 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 LINWOOD BRADFORD 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 WILLIAM FITZGERALD TRUSTEE 2.00 0.00 X 0 0 0 LAURIE LESHIN PRESIDENT 40.00 1.00 X X 990672 0 163219 MARNI HALL 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 DEBORA JACKSON TRUSTEE (THRU 12/2020) 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 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 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 TREASURER, EXECUTIVE VP, CFO 40.00 1.00 X 493020 0 59483 DAVID BUNIS SECRETARY & GENERAL COUNSEL 40.00 0.00 X 449315 0 34046 PATRICK HITCHCOCK ASSOC TREASURER & CONTROLLER 40.00 1.00 X 141207 0 40761 KYLE SIEGEL ASST. SECRETARY & EXEC. DIR. 40.00 0.00 X 104365 0 31414 WINSTON SOBOYEJO PROVOST 40.00 0.00 X 443922 0 110473 PHILIP CLAY VP STUDENT AFFAIRS 40.00 0.00 X 307518 0 37402 AMY MORTON VP AND CHIEF OF STAFF 40.00 0.00 X 273603 0 48024 NIKOLAS GATSONIS PROF&DEPT HEAD AEROSPACE ENGINEERING 40.00 0.00 X 251454 0 134616 WILLIAM MCAVOY VP UNIVERSITY ADVANCEMENT 40.00 0.00 X 571124 0 46791 JEAN KING DEAN OF ARTS & SCIENCES 40.00 0.00 X 349395 0 53323 JAMAL YAGOOBI DEPT HEAD MECHANICAL ENG 40.00 0.00 X 353091 0 61668 BRAJENDRA MISHRA PROFESSOR - MECHANICAL ENG 40.00 0.00 X 330984 0 52757 STEPHEN FLAVIN FORMER VP ACAD & CORP DEV 0.00 0.00 X 207747 0 0 BRUCE BURSTEN CHEMISTRY PROFESSOR 40.00 0.00 X 241007 0 29179 MICHELLE JONES-JOHNSON VP FOR TALENT DEVELOPMENT/CDO 40.00 0.00 X 281294 0 51105 STEPHANIE PASHA FORMER AVP & CHIEF OF STAFF 40.00 0.00 X 142534 0 23027 KRISTIN TICHENOR FORMER SVP ENROL MGMT 0.00 0.00 X 247272 0 0 6179524 0 977288 416 1 1 0 CONSIGLI CONSTRUCTION COMPANY INC 72 SUMNER STREET MILFORD MA 01757 CONSTRUCTION 28185511 THE BROAD INSTITUTE 415 MAIN STREET CAMBRIDGE MA 02142 PROFESSIONAL SVCS 6734375 SHAWMUT DESIGN & CONSTRUCTION 560 HARRISON AVENUE BOSTON MA 02118 CONSTRUCTION 6001674 CUTLER ASSOCIATES INC BOX 15049 WORCESTER MA 01615 CONSTRUCTION 3560538 GENSLER 2 HARRISON STREET SUITE 400 SAN FRANSISCO CA 94105 PROFESSIONAL SVCS 2684576 105 1485000 31022077 5488907 32507077 TUITION AND FEES 611710 292045181 292045181 SPONSORED RESEARCH 611710 36475638 36475638 AUXILIARY OPERATIONS 611710 27874606 27874606 OTHER EDUC. OPERATIONS 611710 4565525 4565525 OTHER OPER. SOURCES 611710 998406 990666 7740 361959356 3447093 -679999 4127092 223551 223551 4704645 4693369 11276 11276 11276 GAIN INT RATE AGREEMNT 900099 4608 4608 4608 398152961 361951616 -672259 4366527 6798485 6798485 103105807 103105807 19236 19236 5273818 439515 3141482 1692821 193633 193633 127427152 96825189 26895329 3706634 8119743 6009347 1817207 293189 15295359 6027457 8269893 998009 8320207 6157708 1862071 300428 1721953 2429 1719524 293350 293350 189030 189030 102453 102453 1226713 1226713 23589974 21566559 1898767 124648 1157818 1013150 143106 1562 2825784 1891923 805436 128425 7042427 1102296 5786659 153472 11426002 9843291 1582711 279220 239331 36336 3553 462186 410123 50230 1833 10428604 10163066 265538 27683742 24246272 3437470 1118446 108153 1010293 REPAIRS AND MAINTENANCE 12989154 12299466 687643 2045 RESEARCH AND TRAINING 4726774 4422571 303852 351 LAB EQUIPMENT/SUPPLIES 4042447 3079934 957196 5317 BOOKS AND PERIODICALS 2452320 18178 2432193 1949 10202782 8693997 1452409 56376 398514619 324483483 66264438 7766698 45846725 58126642 31535514 32919574 4721228 7162001 15716862 15475168 7713471 7479550 803624595 338073275 433529075 465551320 246915718 78639685 271343887 573442239 107053483 70308479 1164375963 1309104658 39139857 48566941 14742957 10858282 342787988 338919319 4814287 5027157 61283880 60936349 49785850 40836393 512554819 505144441 X 299832959 360421896 351988185 443538321 651821144 803960217 1164375963 1309104658 X -361658 147483007 5017724 X 0 1 X 1 1 1 X 19151190 15469079 21267550 33087495 32507077 121482391 19151190 15469079 21267550 33087495 32507077 121482391 9089987 112392404 7305111 7358631 7215285 6508829 4350643 32738499 63465 22800 26371 112636 154333526 1668803468 0.72820 0.63380 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM GAMING - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 63,465. 2018 AMOUNT: $ 22,800. 2019 AMOUNT: $ 26,371. 2020 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 189030 189030 398325589 398514619 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 224007 291896 236805 189030 941738 250000 250000 250000 250000 1000000 1500000 SCHEDULE C, PART II-A, LINE 1B: LOBBYING EXPENDITURES ARE FOR THE PURPOSE OF IDENTIFYING FUNDING OPPORTUNITIES AT THE FEDERAL AND STATE LEVEL TO SUPPORT EDUCATIONAL AND RESEARCH PROGRAMS AND TO DEVELOP STRATEGIC RESEARCH PARTNERSHIPS WITH GOVERNMENT ORGANIZATIONS. X X 0 484367049 10106274 160615648 9447238 14726206 630915527 508521354 4302473 -9351199 9007430 10098149 484367049 500270617 9366879 21649079 8986726 13778495 508521354 484527764 6005130 33375177 9616870 14020584 500270617 453173354 6870914 48215959 9804243 13928220 484527764 0.39000 0.41900 0.19100 0 0 11464520 11464520 554395218 241571818 312823400 19348207 9599509 9748698 121328269 86901948 34426321 97088381 97088381 465551320 EQUITY FUNDS 320257126 F FIXED INCOME FUNDS 111181318 F PRIVATE EQUITY FUNDS 74619797 F REAL ESTATE 67383998 F 573442239 FUNDS UNDER BOND AGREEMENT 50611724 BENEFICIAL INTEREST IN TRUSTS 19696755 70308479 OPERATING LEASE LIABILITIES 14214995 INTEREST RATE AGREEMENTS 7530111 SPLIT INTEREST RATE AGREEMENTS 7199499 FUNDS HELD FOR OTHERS 5622245 REFUNDABLE GOVERNMENT LOAN FUNDS 5080265 ASSET RETIREMENT OBLIGATIONS 1189278 40836393 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, 2021. 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. 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 A SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN THE FORM OF 34A TITLE IV AID. 1 CENTRAL AMERICA AND THE CARIBBEAN 1 2 PROGRAM SERVICES SEE PART V 31452 EAST ASIA AND THE PACIFIC 6 4 PROGRAM SERVICES SEE PART V 53546 EUROPE (INCLUDING ICELAND & GREENLAND) 3 3 PROGRAM SERVICES SEE PART V 73191 MIDDLE EAST AND NORTH AFRICA 1 1 PROGRAM SERVICES SEE PART V 30674 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES SEE PART V 5143 SOUTH AMERICA 0 2 PROGRAM SERVICES SEE PART V 36087 SUB-SAHARAN AFRICA 0 1 PROGRAM SERVICES SEE PART V 16702 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 65842572 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 11960470 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 19236 11 13 0 0 11 13 66089367 11979706 78069073 SUPPLIES SUB-SAHARAN AFRICA 11 0 19236 MEDICAL SUPPLIES COST 1 0 1 1 1 1 PART I, LINE 2: 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. PART III ACCOUNTING METHOD: PART III: DUE TO THE COVID-19 PANDEMIC, THERE WAS NO INTERNATIONAL STUDENT TRAVEL DURING THE FISCAL YEAR JUNE 30, 2021. X X X X X 1 BENTZ WHALEY FLESSNER ASSOC 7251 OHMS LANE MINNEAPOLIC MN 55439 CAMPAIGN 0 0 102453 -102453 102453 -102453 MA 1 A123 SYSTEMS LLC (WANXIANG) 39000 SEVEN MILE ROAD LIVONIA MI 48152 611247430 11004 RESEARCH ACOUSTIC MEDSYSTEMS INC 208 BURWASH AVE SAVOY IL 61874 371365835 199916 RESEARCH ALBANY MEDICAL CENTER 47 NEW SCOTLAND AVENUE ALBANY NY 12208 141641730 501(C)(3) 150005 RESEARCH ASSISTMENTS FOUNDATION 482 SOUTHBRIDGE STREET 398 AUBURN MA 01501 834228740 501(C)(3) 1537361 RESEARCH BATTERY RESOURCERS LLC 54 ROCKDALE STREET WORCESTER MA 01606 822222893 31071 RESEARCH BOSTON ENGINEERING CORPORATION 300 BEAR HILL ROAD WALTHAM MA 02451 043271679 306329 OTHER BOSTON UNIVERSITY 25 BUICK STREET SUITE 200 BOSTON MA 02215 050258809 501(C)(3) 177400 RESEARCH BRANDEIS UNIVERSITY 415 SOUTH STREET MS-116 WALTHAM MA 02453 042103552 501(C)(3) 8396 RESEARCH CARPE DIEM TECHNOLOGIES INC 34 SAXON STREET FRANKLIN MA 02038 421685991 168661 RESEARCH DARTMOUTH-HITCHCOCK CLINIC 1 MEDICAL CENTER DRIVE LEBANON NH 03756 020222140 501(C)(3) 21275 RESEARCH GENERAL ELECTRIC COMPANY 5 NECCO STREET BOSTON MA 02210 140689340 103589 RESEARCH JOHN JAY COLLEGE OF CRIMINAL JUSTICE 524 W 59TH STREET NEW YORK NY 10019 131988190 501(C)(3) 79836 RESEARCH JOHN HOPKINS UNIVERSITY 733 N BROADWAY STE 11 BALTIMORE MD 21205 520595110 501(C)(3) 9371 RESEARCH LEHIGH UNIVERSITY 17 MEMORIAL DRIVE EAST BETHLEHEM PA 18015 240795445 501(C)(3) 84984 RESEARCH LESLEY UNIVERSITY 29 EVERETT STREET CAMBRIDGE MA 02138 042103589 501(C)(3) 254087 RESEARCH MAINSTREAM ENGINEERING 200 YELLOW PLACE ROCKLEDGE FL 32955 592744408 13503 RESEARCH MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVE CAMBRIDGE MA 02139 042103594 501(C)(3) 104944 RESEARCH MICROVAST INC 12603 SOUTHWEST FWY STE 210 STAFFORD TX 77477 205704672 47857 RESEARCH MISSOURI UNIV OF SCIENCE & TECH 300 W 12TH ST 202 CENTENIAL HALL ROLLA MO 65409 436003859 501(C)(3) 69561 RESEARCH PURDUE UNIVERSITY 2200 169TH STREET HAMMOND IN 46323 356002041 501(C)(3) 72242 RESEARCH REGENTS OF UNIV OF CALIF AT IRVINE 111 FRANKLIN STREET 6TH FLOOR ROCKLEDGE CA 94607 952226406 501(C)(3) 548640 RESEARCH RICE UNIVERSITY PO BOX 1892 MS16 HOUSTON TX 77251 741109620 501(C)(3) 79651 RESEARCH TEMPLE UNIVERSITY 1947 N 12TH STREET ROOM 815 PHILADELPHIA PA 19122 231365971 501(C)(3) 10952 RESEARCH TEXAS A&M ENGINEERING EXPERIMENT STATION MEOB217 100 MECHANICAL ENG COLLEGE STATION TX 77843 741974733 501(C)(3) 78387 RESEARCH THE LEARNING CENTER FOR THE DEAF 63 FOUNTAIN STREET SUITE 503 FRAMINGHAM MA 01702 237064431 501(C)(3) 97791 RESEARCH THE RECTOR & VISITORS OF UNIV OF VA 210 SPRIGG LN CHARLOTTESVILLE VA 22903 546001796 501(C)(3) 25903 RESEARCH UNIV OF CALIFORNIA MERCED 5200 NORTH LAKE ROAD MERCED CA 95343 270093858 501(C)(3) 92260 RESEARCH UNITED TECHNOLOGIES RESEARCH CENTER 411 SILVER LANE EAST HARTFORD CT 06118 060570975 73186 RESEARCH UNIVERSITY OF ALABAMA BOX 870104 TUSCALOOSA AL 35487 636001138 GOVT 66724 RESEARCH UNIVERSITY OF CALIFORNIA RIVERSIDE 1084 COLUMBIA AVE RIVERSIDE CA 92324 956006142 GOVT 109188 RESEARCH UNIVERSITY OF ILLINOIS 506 S WRIGHT STREET URBANA IL 61801 037600051 GOVT 229209 RESEARCH UNIVERSITY OF INDIANA 107 S INDIANA AVE BLOOMINGTON IN 47405 356001673 GOVT 142492 RESEARCH UNIVERSITY OF MAINE 312 SHIBLES HALL ORONO ME 04469 016000769 GOVT 99715 RESEARCH UNIVERSITY OF MASSACHUSETTS AMHERST 100 VENTURE WAY HADLEY MA 01035 043167352 GOVT 772570 RESEARCH UNIVERSITY OF MASSACHUSETTS DARTMOUTH 285 OLD WESTPORT RD DARTMOUTH MA 02747 043167352 GOVT 53885 RESEARCH UNIVERSITY OF MASSACHUSETTS LOWELL 220 PAWTUCKET STREET LOWELL MA 01854 043167352 GOVT 171737 RESEARCH UNIVERSITY OF MASSACHUSETTS MEDICAL 55 N LAKE AVE WORCESTER MA 01655 043167352 GOVT 51742 RESEARCH UNIVERSITY OF NEW HAMPSHIRE 51 COLLEGE ROAD DURHAM NH 03824 026000937 GOVT 63000 RESEARCH UNIVERSITY OF PENNSYLVANIA 3451 WALNUT STREET PHILADELPHIA PA 19104 246000376 GOVT 165898 RESEARCH WAYNE STATE UNIVERSITY 5057 WOODWARD AVE 13TH FLOOR DETROIT MI 48202 386028429 GOVT 12018 RESEARCH WESTAT INC 20 UNIVERSITY ROAD CAMBRIDGE MA 02138 840529566 115303 RESEARCH WESTED 400 SEAPORT COURT SUITE 222 REDWOOD CITY CA 94063 943233542 273248 RESEARCH WOODS HOLE OCEANOGRAPHIC INSTITUTION 266 WOODS HOLE ROAD WOODS HOLE MA 02543 042105850 501(C)(3) 13594 RESEARCH 32 11 SCHOLARSHIPS 4804 103105807 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 839989 0 149393 0 1290 0 31350 0 131869 0 1153891 0 134800 0 WILLIAM MCAVOY VP UNIVERSITY ADVANCEMENT 283892 0 55299 0 231933 0 28560 0 18231 0 617915 0 48555 0 WINSTON SOBOYEJO PROVOST 442632 0 0 0 1290 0 29925 0 80548 0 554395 0 0 0 JEFFREY SOLOMON TREASURER, EXECUTIVE VP, CFO 420292 0 71438 0 1290 0 29565 0 29918 0 552503 0 64460 0 DAVID BUNIS SECRETARY & GENERAL COUNSEL 389243 0 58782 0 1290 0 29010 0 5036 0 483361 0 53040 0 JAMAL YAGOOBI DEPT HEAD MECHANICAL ENG 349281 0 0 0 3810 0 27358 0 34310 0 414759 0 0 0 JEAN KING DEAN OF ARTS & SCIENCES 347415 0 0 0 1980 0 28105 0 25218 0 402718 0 0 0 NIKOLAS GATSONIS PROF&DEPT HEAD AEROSPACE ENGINEERING 250164 0 0 0 1290 0 19324 0 115292 0 386070 0 0 0 BRAJENDRA MISHRA PROFESSOR - MECHANICAL ENG 329004 0 0 0 1980 0 27620 0 25137 0 383741 0 0 0 PHILIP CLAY VP STUDENT AFFAIRS 275338 0 30200 0 1980 0 26567 0 10835 0 344920 0 27250 0 MICHELLE JONES-JOHNSON VP FOR TALENT DEVELOPMENT/CDO 254006 0 26598 0 690 0 25025 0 26080 0 332399 0 24000 0 AMY MORTON VP AND CHIEF OF STAFF 272913 0 0 0 690 0 26347 0 21677 0 321627 0 0 0 BRUCE BURSTEN CHEMISTRY PROFESSOR 192728 0 44469 0 3810 0 18582 0 10597 0 270186 0 40125 0 KRISTIN TICHENOR FORMER SVP ENROL MGMT 0 0 0 0 247272 0 0 0 0 0 247272 0 0 0 STEPHEN FLAVIN FORMER VP ACAD & CORP DEV 0 0 0 0 207747 0 0 0 0 0 207747 0 0 0 PATRICK HITCHCOCK ASSOC TREASURER & CONTROLLER 140937 0 0 0 270 0 14250 0 26511 0 181968 0 0 0 STEPHANIE PASHA FORMER AVP & CHIEF OF STAFF 142106 0 0 0 428 0 13640 0 9387 0 165561 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 THREE LISTED INDIVIDUALS FROM THE INSTITUTE, SEPARATION AGREEMENTS WERE EXECUTED WHICH INCLUDED THE PAYOUT OF CERTAIN LUMP SUM PAYMENTS, CONTINUATION OF SALARY, AND THE ABILITY TO UTILIZE CERTAIN OUTPLACEMENT SERVICES. THE PORTION OF THESE PAYMENTS TAXABLE IN CALENDAR YEAR 2020 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 2020 ARE INCLUDED ON SCHEDULE J, COLUMN (B)(II). ADDITIONAL DETAILS REGARDING THE PLAN ARE INCLUDED IN RESPONSE SCHEDULE J, PART I, LINE 7. 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 "VP RETENTION PLAN". EACH YEAR, A VICE PRESIDENT MAY EARN UP TO 12.5% OF SALARY AND EXCESS RETIREMENT CONTRIBUTIONS, SUBJECT TO A THREE YEAR RISK OF FORFEITURE. THESE AMOUNTS ARE ALL NON-FIXED PAYMENTS. SENIOR LEADERSHIP IS 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 57583UST6 2012-10-30 43369451 CONST. OF DORM/OTHER RENOVATIONS 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2014-08-28 4622000 RENOVATIONS OF EXISTING FACILITIES 0 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584XPK1 2016-06-21 49030491 REFUNDING OF SERIES 2007 BONDS 0 0 0 A 12955000 48995000 325962 19038 48650000 2008 1 0 1 1 B 43372717 1360189 530536 41481992 2015 0 0 1 1 C 1126460 4622000 61330 4560670 2016 0 0 1 1 D 49030491 471314 48559177 2016 0 1 0 1 A 0 1 1 1 1 1 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 1 1 1 0 0.00300 0.00300 0 0 1 A 0 0 0 1 1 1 DEUTSCHE & BARCLAYS 20.000000000000 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 0 0 1 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 D (SERIES 2016) WAS USED TO REFUND SERIES 2007 WHICH WAS ISSUED JUNE 28, 2007. BOND ISSUE A (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 B (SERIES 2017B) WAS USED TO REFUND SERIES 2010 WHICH WAS ISSUED JANUARY 27, 2010. SCHEDULE K, PART III, LINE 3: FOR BOND ISSUE B (SERIES 2012), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $3,267. FOR BOND ISSUE B (SERIES 2017B), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $1,345,180. FOR BOND ISSUE C (SERIES 2019), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $923,851. SCHEDULE K, PART III, COLUMN A: 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 2012), A REBATE CALCULATION WAS PERFORMED ON 10/31/2017. FOR BOND C (SERIES 2014), A REBATE CALCULATION WAS PERFORMED ON 10/07/2016. FOR BOND D (SERIES 2016), A REBATE CALCULATION WAS PERFORMED ON 6/8/2021. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584X2E0 2017-10-03 16911534 REFUNDING OF SERIES 2007 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YAP4 2017-12-28 61875371 REFUNDING OF SERIES 2010 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YVR7 2019-09-26 135463087 VARIOUS CAPITAL PROJECTS 0 0 0 A 1150000 16911534 288239 16623295 2017 1 0 1 1 B 61875371 546236 61329135 2017 0 1 0 1 C 136386938 2401316 912875 76900235 56172512 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 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 0 0 0 0 1 A 1 B 1 C 1 NA N/A 5250 SCHOLARSHIP MERIT JASMINE JONES DAUGHTER FORMER KE 50036 EMPL. COMP. 0 X 30 4694637 FAIR MARKET VALUE X 3 253489 FAIR MARKET VALUE X SUPPLIES/EQUIP 8 540781 FAIR MARKET VALUE 1 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, 2021, WASHBURN PARK INC HAD NET ASSETS OF $27,794,667; REVENUE OF $486,220; AND EXPENSES OF $2,035,932. ADDITIONALLY, ASSISTMENTS FOUNDATION HAD NET ASSETS OF $1,094,328; REVENUE OF $2,378,362; AND EXPENSES OF $1,500,473. FORM 990, PART V, LINE 1A: THE 7,746 REPORTED ON THIS LINE INCLUDES THE FOLLOWING: 1098-T'S: 7,112 1099 NEC: 318 1099 MISC: 311 1099-K'S: 5 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 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 VII, SECTION A: MICHELLE JONES-JOHNSON WAS REPORTED AS A KEY EMPLOYEE ON THE FORM 990 FOR TAX YEAR ENDED JUNE 30, 2018. SHE CONTINUED TO BE AN EMPLOYEE OF WPI THROUGH MARCH OF 2021, HOWEVER HER POSITION NO LONGER MEETS THE KEY EMPLOYEE DEFINITION FOR TAX YEAR ENDED JUNE 30, 2021. THEREFORE, SHE IS REPORTED AS A FORMER KEY EMPLOYEE. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON BENEFICIAL INTEREST IN TRUSTS 4,827,740. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -829,367. NET UNREALIZED GAIN ON SWAPS 1,019,351. GATEWAY PARK LLC 100 INSTITUTE ROAD WORCESTER MA 01609 043494779 REAL EST. DEV MA 739601 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 10460833 COST WASHBURN PARK INC A 184600 FMV ASSISTMENTS FOUNDATION B 1537361 CASH