2022-05-11T10:15:38-05:00 2021-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2020-07-01 042103865 BAY PATH UNIVERSITY BAYP 4135651219 588 LONGMEADOW STREET LONGMEADOW MA 01106 MICHAEL GIAMPIETRO VP FINANCE & ADMIN SERVICES 4135651219 2022-05-10 1 MICHAEL GIAMPIETRO 999009999 DAVID A DIIULIS P00303577 6174711120 2022-05-09 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHAEL GIAMPIETRO 588 LONGMEADOW STREET LONGMEADOW MA 01106 106767803 0 X WWW.BAYPATH.EDU X 1940 MA A BAY PATH UNIVERSITY EDUCATION EMPOWERS UNDERGRADUATE WOMEN AND GRADUATE WOMEN AND MEN TO BECOME LEADERS IN THEIR CAREERS AND COMMUNITIES WITH AN INNOVATIVE APPROACH TO LEARNING THAT PREPARES STUDENTS TO FLOURISH IN A CONSTANTLY CHANGING WORLD. 30 30 1294 189 0 0 6226327 5806972 62561894 60048643 1843646 7524744 1044244 285359 71676111 73665718 13281801 13106242 0 0 35798407 33505608 0 172000 880896 19552421 17934951 68632629 64718801 3043482 8946917 117799617 138475237 28586485 29495789 89213132 108979448 X BAY PATH UNIVERSITY EDUCATION EMPOWERS UNDERGRADUATE WOMEN AND GRADUATE WOMEN AND MEN TO BECOME LEADERS IN THEIR CAREERS AND COMMUNITIES WITH AN INNOVATIVE APPROACH TO LEARNING THAT PREPARES STUDENTS TO FLOURISH IN A CONSTANTLY CHANGING WORLD. (SEE SCH O).THE BAY PATH EXPERIENCE IS NOTHING LESS THAN TRANSFORMATIONAL. OUR WOMEN-ONLY UNDERGRADUATE PROGRAMS AND OUR COEDUCATIONAL GRADUATE PROGRAMS ARE OFFERED BOTH ON-CAMPUS AND ONLINE, PROVIDING A FLEXIBLE, 21ST-CENTURY EDUCATION FOR LEARNERS AT ALL STAGES OF LIFE AND CAREER. BAY PATH STUDENTS FIND A SUPPORTIVE AND DIVERSE COMMUNITY, CLOSE MENTORING, AND RIGOROUS PREPARATION FOR SUCCESS IN A COMPLEX AND GLOBALLY INTERDEPENDENT SOCIETY. STUDENTS GRADUATE WITH THE APPLIED KNOWLEDGE, PORTABLE SKILLSET, AND CONFIDENCE TO THRIVE IN THEIR PROFESSIONS, IDENTIFY AND REALIZE THEIR DREAMS, AND MAKE A LASTING DIFFERENCE IN THE WORLD. 0 0 52774731 13106242 72466356 THE UNIVERSITY PROVIDES INSTRUCTIONS, ACADEMIC SUPPORT, STUDENT SERVICES, AND STUDENT FINANCIAL AID TO CARRY OUT ITS EXEMPT PURPOSES, SERVING APPROXIMATELY 3,400 STUDENTS. 1096189 1199356 AUXILIARY ENTERPRISES PROVIDE SERVICES FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, AND STAFF. THIS INCLUDES DINING SERVICES, STUDENT HOUSING, THE BOOKSTORE, AND OTHER MISCELLANEOUS SERVICES. THE UNIVERSITY SERVED APPROXIMATELY 3,400 STUDENTS, INCLUDING APPROXIMATELY 300 RESIDENT STUDENTS. 53870920 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 173 0 1 1294 1 0 0 0 0 0 1 1 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X JOHN O'ROURKE III 4135651219 588 LONGMEADOW STREET LONGMEADOW MA 01106 X ANDREW ANDERLONIS TRUSTEE 1.00 X 0 0 0 KIRK ARNOLD TRUSTEE 1.00 X 0 0 0 TANIA BARBER TRUSTEE 1.00 X 0 0 0 DELCIE BEAN TRUSTEE 1.00 X 0 0 0 JONATHAN BESSE TRUSTEE 1.00 X 0 0 0 CARRIE BURR TRUSTEE 1.00 X 0 0 0 MARY BUSHNELL TRUSTEE 1.00 X 0 0 0 JULIA BYERS TRUSTEE 1.00 X 0 0 0 MARTY CAINE TRUSTEE 1.00 X 0 0 0 LAMONT CLEMONS TRUSTEE 1.00 X 0 0 0 DREW DAVIS TRUSTEE 1.00 X 0 0 0 JO-ANN DAVIS TRUSTEE 1.00 X 0 0 0 LAURA GRONDIN TRUSTEE 1.00 X 0 0 0 ANN HAMMER TRUSTEE 1.00 X 0 0 0 PIA KUMAR TRUSTEE 1.00 X 0 0 0 ANDREW LAM TRUSTEE 1.00 X 0 0 0 GRACE MAKARI-JUDSON TRUSTEE 1.00 X 0 0 0 STEFANO MARTINI TRUSTEE 1.00 X 0 0 0 ANGIE MCGINNIS TRUSTEE 1.00 X 0 0 0 RODGER METZGER TRUSTEE 1.00 X 0 0 0 ROBYN NEWHOUSE TRUSTEE 1.00 X 0 0 0 STEPHANIE O'LEARY TRUSTEE 1.00 X 0 0 0 LORI ROOP TRUSTEE 1.00 X 0 0 0 MARY-ANN SPENCER TRUSTEE 1.00 X 0 0 0 BRIAN TUOHEY TRUSTEE 1.00 X 0 0 0 WAYNE WEBSTER TRUSTEE 1.00 X 0 0 0 JEANNETTE WELDON TRUSTEE 1.00 X 0 0 0 DANIELLE WILLIAMS TRUSTEE 1.00 X 0 0 0 HAMLINE WILSON TRUSTEE 1.00 X 0 0 0 MICHELLE WIRTH TRUSTEE 1.00 X 0 0 0 SANDRA DORAN PRESIDENT 55.00 X 238512 0 19413 MICHAEL GIAMPIETRO VP OF FINANCE AND ADMIN SERVICES 50.00 X 222694 0 26694 KATHLEEN BOURQUE VP FOR UNIVERSITY RELATIONS 50.00 X 190114 0 8280 AMANDA GOULD CHIEF ADMINISTRATIVE OFFICER 50.00 X 219712 0 9532 MELISSA MORRISS-OLSON PROVOST 50.00 X 209616 0 17924 ELIZABETH FLEMING ASSOCIATE PROVOST AND DEAN SCHOOL OF EDUCATION 50.00 X 193249 0 16036 CARON HOBIN VP FOR STRATEGIC ALLIANCES 50.00 X 172543 0 15235 ALLISON GEARING-KALILL VP FOR DEVELOPMENT AND PLANNED GIVING 50.00 X 165382 0 19891 THOMAS LOPER ASSOC PROVOST AND DEAN SCHOOL OF ARTS AND SCIENCES 50.00 X 163118 0 6975 KATHLEEN HALPIN-ROBBINS ASSISTANT VICE PRESIDENT AND DIRECTOR OF HUMAN RES 50.00 X 159486 0 10693 KRISTINE BARNETT VICE PROVOST FOR ACADEMIC AFFAIRS 50.00 X 149679 0 6403 CAROL LEARY PRESIDENT 55.00 X 1442549 0 60711 3526654 0 217787 25 1 1 0 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 94139 ADVERTISEMENT 1381983 BRET STERN PRODUCTIONS 18 LEONARD STREET NORWALK CT 06850 ADVERTISEMENT 1039184 ARAMARK SERVICES INC 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 685695 REACHLOCAL 745 BOYLSTON STREET 7TH FLOOR BOSTON MA 02116 ADVERTISEMENT 534224 LAMAR ADVERTISING 32 MIDLAND STREET WINSOR CT 06095 ADVERTISEMENT 460225 25 19567 4335830 1451575 72176 5806972 TUITION 611600 58832592 58832592 RESIDENCE AND DINING 611710 1199356 1199356 WOMEN'S CONFERENCE 611710 16695 16695 60048643 868987 868987 212898 109862 103036 103036 103036 39644022 32988265 6655757 6655757 6655757 0 19567 3958 -3958 -3958 OTHER 900099 168552 168552 BOOKSTORE 451211 16651 16651 FOOD SERVICE 624200 1078 1078 186281 73665718 60234924 0 7623822 82158 82158 12996024 12996024 28060 28060 2061740 429095 1632645 26493446 22536415 3445035 511996 717534 577077 127592 12865 2010375 1457172 519565 33638 2222513 1787456 395207 39850 533412 524574 8838 57822 57822 74814 74814 172000 172000 4713190 3378086 1259201 75903 4279242 4215177 64065 1122450 701786 396859 23805 927449 717282 210167 1167032 926067 240965 20874 13637 4748 2489 45369 35610 9759 514826 514826 2811602 2554149 257453 237151 237151 STUDENT BOARD 702232 702232 OTHER EXPENSES 483321 54179 429142 MEMBERSHIPS 210442 135898 69694 4850 ENTERTAINMENT 33723 18786 11437 3500 64718801 53870920 9966985 880896 8771082 13267876 2217 0 764016 491116 3421253 4109149 1194609 1117003 1183952 1384583 87992299 54041897 35965371 33950402 56070715 68666136 10426402 15488972 117799617 138475237 3946660 4007492 752904 414916 5924618 7676062 15887745 15251816 14418 14425 2060140 2131078 28586485 29495789 X 71576780 88600669 17636352 20378779 89213132 108979448 117799617 138475237 8946917 10819399 0 X X 0 1 X 1 1 1 X 4568258 4915237 3273462 6226327 5806972 24790256 4568258 4915237 3273462 6226327 5806972 24790256 1481361 23308895 1054836 1105449 1434083 1205583 868987 5668938 3297 1991 1713 0 0 7001 6295 4475 5737 4129 20636 30486831 0.76460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 55345804 854445 18235292 293716 19646 74122179 53589753 1496730 592650 311643 21686 55345804 50579337 1335902 1979791 271733 33544 53589753 46320446 1261465 3273434 252849 23157 50579339 40824792 1171084 4575235 227107 23558 46320446 0.74700 0.22450 0.02850 1 0 6252940 6252940 782618 53064241 28400161 25446698 1597037 723385 873652 13608861 12757281 851580 12686602 12161070 525532 33950402 PRIVATE EQUITY 9274457 F HEDGE FUNDS 6214515 F 15488972 OTHER LONG TERM LIABILITIES 2019475 ANNUITY OBLIGATIONS 111603 2131078 X 55243076 10810854 -13029349 -2218495 57461571 16204147 16204147 73665718 51756144 66692 66692 51689452 13029349 13029349 64718801 PART IV, LINE 2B: THE UNIVERSITY HOLDS TUITION DEPOSITS RECEIVED FROM STUDENTS. IN ADDITION, THE UNIVERSITY OWNS AND RENTS RESIDENTIAL PROPERTIES NEAR THE CAMPUS. THE TENANTS' SECURITY DEPOSITS ARE MAINTAINED IN ESCROW ACCOUNTS AT A LOCAL BANK. PART X, LINE 2: THE UNIVERSITY IS AN ORGANIZATION DESCRIBED UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND IS GENERALLY EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE CODE AND APPLICABLE STATE LAWS. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX PROVISIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -13,029,349. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET RETURN ON INVESTMENTS 16,280,505. FUNDRAISING EXPENSE -3,780. RENTAL EXPENSE -71,456. LOSS ON DISPOSITION -1,122. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL PROPERTY EXPENSE 61,790. FUNDRAISING EXEPENSE 3,780. LOSS ON DISPOSITION 1,122. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 13,029,349. SCHEDULE D, PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT FUND IS AN INVESTMENT PORTFOLIO COMPRISED OF DONOR-RESTRICTED(TRUE) AND BOARD-DESIGNATED(QUASI) ENDOWMENT FUNDS. THE INTENTIONS OF THE FUND ARE TO GENERATE A TOTAL RETURN THAT PRESERVES THE LONG-TERM REAL PURCHASING POWER OF THE ENDOWMENT FUNDS AND PROVIDES A RELATIVELY PREDICTABLE AND INCREASING REVENUE STREAM TO BE USED FOR DONOR-SPECIFIED AND BOARD-DESIGNATED PURPOSES THAT SUPPORT THE MISSIONS OF THE UNIVERSITY. FOR SCHEDULE D, UNIVERSITY CONTRIBUTIONS INCLUDE FUNDS TRANSFERRED FROM DONOR RESTRICTED FUNDS TO THE UNRESTRICTED QUASI-ENDOWMENT FUND TO SUPPORT THE DONOR-RESTRICTED SCHOLARSHIPS AWARDED DURING THE YEAR FROM LIQUID, UNRESTRICTED INVESTMENTS SCHEDULE D, PART VI, LINE 1(B), COL(A) INVESTMENTS IN DIRECT REAL ESTATE OF $782,618 ARE INCLUDED HERE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PUBLICATIONS, APPLICATIONS, REGISTRATION FORMS, NEWSPAPER ADVERTISEMENTS, AND SUMMER PROGRAMS MAKE REFERENCE TO THE UNIVERSITY'S RACIALLY NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 ALL FEDERAL AND STATE FUNDS RECEIVED ARE EXPENDED ENTIRELY FOR STUDENT FINANCIAL AID IN ACCORDANCE WITH THE U.S. OFFICE OF MANAGEMENT AND BUDGET UNIFORM GUIDANCE FOR FEDERAL FUNDS, AND WITH SPECIFIC REQUIREMENTS APPLICABLE TO THE MASSACHUSETTS OFFICE OF STUDENT FINANCIAL ASSISTANCE PROGRAMS FOR STATE FUNDS. 1 EUROPE 0 0 PROGRAM SERVICES SOFTWARE LICENSE 18420 SOUTH ASIA 0 0 PROGRAM SERVICES MARKETING SERVICES 5200 RUSSIA/INDEPENDENT STATES 0 0 GRANTS TO RECIPIENTS 19500 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS 8560 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS 6214515 0 0 0 0 0 0 6266195 0 6266195 EDUCATION RUSSIA AND NEIGHBORING STATES 1 19500 CREDIT ACCOUNT EDUCATION EAST ASIA AND THE PACIFIC 1 8560 CREDIT ACCOUNT 0 0 1 1 1 1 PART I, LINE 2: ALL GRANTS AND ASSISTANCE TO INDIVIDUALS OUTSIDE OF THE UNITED STATES ARE GIVEN AS SCHOLARSHIPS TOWARDS TUITION FOR FOREIGN STUDENTS TO ATTEND BAY PATH UNIVERSITY. THESE SCHOLARSHIPS ARE MONITORED BY THE UNIVERSITY'S FINANCIAL AID STAFF BASED ON THE STUDENT'S MERIT AND NEED. PART III ACCOUNTING METHOD: X X X X X X X 1 STEPSTONE STRATEGIC PARTNERS 4820 BETHANIA STATION ROAD WINSTONSALEM NC 27105 TEMPORARY STAFFING FOR DEVELOPMENT OF VP 0 0 172000 -172000 172000 -172000 CARPE DIEM DASH 19567 19567 25 688 100 3145 19567 19567 25 688 100 3145 3958 -3958 1 TOWN OF LONGMEADOW 20 WILLIAMS STREET LONGMEADOW MA 01106 046001204 60158 PILOT PROGRAM AND SENIOR CENTER TOWN OF EAST LONGMEADOW 60 CENTER SQUARE LONGMEADOW MA 01028 046001139 22000 PILOT PROGRAMS (TOWN, FIRE, POLICE) 2 SCHOLARSHIPS AND AID TO STUDENTS 881 12996024 FORM 990 SCHEDULE I PART (IV) BAY PATH UNIVERSITY RECEIVES GRANT MONEY FROM FEDERAL AND STATE GOVERNMENT AGENCIES FOR STUDENT FINANCIAL AID. THIS GRANT MONEY IS DISBURSED TO STUDENT ACCOUNTS AS IT IS RECEIVED BY THE UNIVERISITY. STUDENT AWARDS ARE BASED ON THE FEDERAL AND STATE GUIDELINES FOR EACH TYPE OF GRANT. GRANTS TO CHARITABLE ORGANIZATIONS ARE MADE IN ACCORDANCE WITH ESTABLISHED FINANCIAL POLICIES. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 CAROL LEARY PRESIDENT 1440847 0 0 0 1702 0 23467 0 37244 0 1503260 0 0 675000 SANDRA DORAN PRESIDENT 236775 0 0 0 1737 0 0 0 19413 0 257925 0 0 0 MICHAEL GIAMPIETRO VP OF FINANCE AND ADMIN SERVICES 222619 0 0 0 75 0 9324 0 17370 0 249388 0 0 0 AMANDA GOULD CHIEF ADMINISTRATIVE OFFICER 219637 0 0 0 75 0 9532 0 0 0 229244 0 0 0 MELISSA MORRISS-OLSON PROVOST 209541 0 0 0 75 0 10481 0 7443 0 227540 0 0 0 ELIZABETH FLEMING ASSOCIATE PROVOST AND DEAN SCHOOL OF 193174 0 0 0 75 0 8593 0 7443 0 209285 0 0 0 KATHLEEN BOURQUE VP FOR UNIVERSITY RELATIONS 190039 0 0 0 75 0 8280 0 0 0 198394 0 0 0 CARON HOBIN VP FOR STRATEGIC ALLIANCES 172468 0 0 0 75 0 7792 0 7443 0 187778 0 0 0 ALLISON GEARING-KALILL VP FOR DEVELOPMENT AND PLANNED GIVIN 165307 0 0 0 75 0 7631 0 12260 0 185273 0 0 0 KATHLEEN HALPIN-ROBBINS ASSISTANT VICE PRESIDENT AND DIRECTO 159411 0 0 0 75 0 4906 0 5787 0 170179 0 0 0 THOMAS LOPER ASSOC PROVOST AND DEAN SCHOOL OF ART 163043 0 0 0 75 0 6975 0 0 0 170093 0 0 0 KRISTINE BARNETT VICE PROVOST FOR ACADEMIC AFFAIRS 149604 0 0 0 75 0 6403 0 0 0 156082 0 0 0 PART I, LINE 1A THE PRESIDENT'S EMPLOYMENT CONTRACT ALLOWS FOR SPOUSAL TRAVEL. THE TRAVEL IS ON A LIMITED BASIS AND TYPICALLY INVOLVES THE SPOUSE'S SERVICE AS A CHAPERONE ON THE ANNUAL HONORS STUDENTS' TRIP TO A WORLD CAPITAL. THE PRESIDENTS RESIDE IN A UNIVERSITY-OWNED HOUSE NEAR THE CAMPUS AS REQUIRED IN HER CONTRACT. NUMEROUS FUNCTIONS TAKE PLACE AT THE PRESIDENT'S HOME IN SUPPORT OF THE UNIVERSITY'S MISSION. DONORS, FACULTY, STAFF, AND STUDENTS ARE WELCOMED THROUGHOUT THE YEAR. GIVEN THE VISIBILITY OF AND THE MANY EVENTS THAT TAKE PLACE AT THE PRESIDENT'S RESIDENCE, A UNIVERSITY EMPLOYEE CLEANS THE HOME AT VIRTUALLY NO EXTRA COST TO THE UNIVERSITY. THE AVAILABILITY AND APPROACHABILITY OF THE PRESIDENT IS A KEY ELEMENT TO INSTILLING THE SENSE OF COMMUNITY AND CARING THAT IS CENTRAL TO THE UNIVERSITY'S MISSION. THE VALUE OF THE PRESIDENT'S HOUSING IS $14,874 FOR THE YEAR AND IS INCLUDED IN HER SCHEDULE J,PART II, COLUMN (D) COMPENSATION. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY SERIES 2013 043431814 2013-12-23 19500000 CONSTRUC/EQUIP/REFUND 2006 0 0 0 A 100000 12108657 6734874 556469 2014 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART II, LINE 11 12/23/2013 $19,500,000 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY OTHER SPENT PROCEEDS OF $6,734,874 REPRESENTS THE AMOUNT USED TO PAY OFF THE OUTSTANDING BALANCE OF A PRIOR BOND ISSUE. X 6 72176 FMV 0 0 1 PART I, LINE 32B: THE UNIVERSITY USED A THIRD PARTY TO SELL GIFTS OF STOCK. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF THE FORM 990, A COMPLETE COPY IS REVIEWED BY THE UNIVERSITY'S VICE PRESIDENT FOR FINANCE & ADMINISTRATIVE SERVICES, AS WELL AS THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. A PUBLIC DISCLOSURE COPY IS PROVIDED, VIA THE TRUSTEES INTERNET PORTAL, TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO THE FILING DATE. AT THE JUNE MEETING OF THE FULL BOARD OF TRUSTEES, THE AUDIT COMMITTEE CHAIRPERSON DELIVERS A SUMMARY REPORT OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY FOR TRUSTEES, AS CONTAINED IN THE BOARD OF TRUSTEES BYLAWS, ALL TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE AT LEAST ANNUALLY A CONFLICT OF INTEREST QUESTIONNAIRE AND SUBMIT IT TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. ADDITIONALLY, ANY POTENTIAL CONFLICT OF INTEREST WHICH ARISES MID-TERM IS REQUIRED TO BE SUBMITTED TO THE AUDIT COMMITTEE AT THE EARLIEST PRACTICAL TIME. NO TRUSTEES OR OFFICER SHALL VOTE OR PARTICIPATE IN ANY DISCUSSION ON ANY MATTER UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE OR OFFICER HAS A CONFLICT OF INTEREST. ANY TRUSTEE OR OFFICER WHO IS UNCERTAIN WHETHER HE/SHE HAS A CONFLICT OF INTEREST MAY REQUEST THE AUDIT COMMITTEE TO MAKE A DETERMINATION IN SUCH REGARD, AND THE AUDIT COMMITTEE MAY SEEK AN OPINION FROM COUNSEL FOR THE UNIVERSITY IN SUCH MATTER. THE UNIVERSITY ALSO REQUIRES ALL EMPLOYEES TO COMPLETE ANNUALLY A CONFLICT OF INTEREST DISCLOSURE FORM AND SUBMIT IT TO THEIR RESPECTIVE DIVISIONAL VICE PRESIDENT FOR REVIEW. IF AN EMPLOYEE DICLOSES ACTIVE OR INTENDED PARTICIPATION IN AN ACTIVITY THAT IS A POTENTIAL CONFLICT OF INTEREST, THE SUPERVISOR AND DIVISIONAL VICE PRESIDENT WILL EVALUATE THE DISCLOSURE TO DETERMINE THE APPROPRIATE ACTION TO BE TAKEN. THE EMPLOYEE MAY BE ASKED TO DISCONTINUE PARTICIPATION IN THE ACTIVITY IF IT IS DETERMINED TO BE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCES AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES HAS THE RESPONSIBILITY FOR REVIEWING AND RECOMMENDING THE UNIVERSITY PRESIDENT'S AND OFFICER'S/KEY EMPLOYEES' COMPENSATION TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE HUMAN RESOURCES AND COMPENSATION COMMITTEE CONSIDERS COMPARATIVE DATA GATHERED FROM PEER INSTITUTIONS BY AN EXECUTIVE COMPENSATION CONSULTING FIRM. THE COMMITTEE ALSO REVIEWS ACCOMPLISHMENTS IN COMPARISON TO PLANNED GOALS AND OBJECTIVES. THE EXECUTIVE COMMITTEE, COMPRISED OF INDEPENDENT BOARD OF TRUSTEE MEMBERS, APPROVES THE PRESIDENT'S AND OFFICER'S/KEY EMPLOYEES' COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S FORM 990 AND 990-T ARE AVAILABLE FOR PUBLIC INSPECTION AT THE OFFICE OF THE VICE PRESIDENT FOR FINANCE & ADMINISTRATIVE SERVICES UPON WRITTEN REQUEST. ADDITIONAL, THE UNIVERSITY'S FORMS 990 AND MASSACHUSETTS PC, AS WELL AS AUDITED FINANCIAL STATEMENTS, ARE AVAILABLE ON THE WEBSITE OF THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE, PUBLIC CHARITIES DIVISION. REQUESTS FOR COPIES OF BYLAWS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE DIRECTED TO THE VICE PRESIDENT FOR FINANCE & ADMINISTRATIVE SERVICES FOR A RESPONSE. PART VII, SECTION A, LINE 1A DR. LEARY'S REPORTABLE COMPENSATION OF $1,442,459 IS COMPRISED OF $225,000 OF DEFERRED COMPENSATION EXPENSED IN THE CURRENT YEAR, $675,000 DEFERRED COMPENSATION EXPENSED IN THE PRIOR FISCAL YEAR, AND $542,549 FROM CURRENT YEAR COMPENSATION. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PART X, LINE 10 INVESTMENTS IN DIRECT REAL ESTATE OF $782,618 ARE INCLUDED HERE.