2019-05-14T12:12:13-05:00 2018-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2017-07-01 042134818 LABOURE COLLEGE LABO 6173223500 303 ADAMS STREET MILTON MA 02186 DR DEBRA TOWNSLEY PRESIDENT 6173223500 2019-05-14 1 LYNNE JOHNSON P00757336 6179129000 100.1.170.9 2019-05-14 12:01:35 ED P 500FCEA869F3103E05957D7D3205F93DE56F9DC2 1101CBF66FFAA2599057FE7F4407BFB8CB39BD08 2017 2019-02-21 02:37:17Z DR DEBRA TOWNSLEY 303 ADAMS STREET MILTON MA 02186 17947242 0 X WWW.LABOURE.EDU X 1951 MA LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES (SEE SCH. O FOR CONTINUATION) WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS. INHERENT IN THE CATHOLIC IDENTITY OF THE COLLEGE AND OUR EDUCATIONAL MISSION IS A COMMITMENT TO JUDAEO-CHRISTIAN PRINCIPLES WHICH INFLUENCE THE ACADEMIC CURRICULA AND THE COLLEGE ENVIRONMENT. CONSISTENT WITH THESE PRINCIPLES, THE COLLEGE SEEKS TO GIVE OPPORTUNITIES TO A DIVERSE POPULATION OF STUDENTS TO CONTINUE THEIR EDUCATION AS MATURE ADULTS AND RESPONSIBLE WORLD CITIZENS. 11 11 235 12 0 0 461652 219120 15412196 17640757 55455 62053 -60724 -60322 15868579 17861608 799389 821751 0 0 10643564 10962641 0 0 166982 3712683 4601775 15155636 16386167 712943 1475441 32416643 33868279 17894763 17690493 14521880 16177786 X LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS. 0 0 9995754 821751 17651916 LABOURE COLLEGE HAS A UNIQUE AND EXTENSIVE 125+ YEAR HISTORY IN THE EDUCATION OF HEALTH CARE PROFESSIONALS IN THE GREATER BOSTON AREA. OUR STUDENT BODY NUMBERS APPROXIMATELY 800 STUDENTS, MOST OF WHOM ATTEND PART-TIME. AS A COLLEGE WITH THE DISTINCT FOCUS OF EDUCATION FOR PRACTICE IN THE HEALTH SECTOR, WE ARE COMMITTED TO PREPARING INDIVIDUALS TO DELIVER PATIENT-CENTERED CARE AS MEMBERS OF AN INTERDISCIPLINARY TEAM. THE INDIVIDUAL PROGRAMS PROVIDE CLINICAL EDUCATION EMPHASIZING EVIDENCE-BASED PRACTICE, INCLUDING THE LATEST RESEARCH AND CLINICAL EXPERTISE. QUALITY IMPROVEMENT APPROACHES AND THE USE OF INFORMATION TECHNOLOGY ARE IMPORTANT COMPONENTS OF EACH PROGRAM. WE ARE REGIONALLY ACCREDITED BY NEASC AND EACH OF OUR PROGRAMS IS ACCREDITED BY THE (CONTINUED ON SCHEDULE O) DISCIPLINE-SPECIFIC SPECIALIZED ACCREDITING BODY. WE ARE A PRIVATE, INDEPENDENT, NON-PROFIT COLLEGE LOCATED IN MILTON, MA. 9995754 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 1 235 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X DR DEBRA TOWNSLEY 6173223500 303 ADAMS STREET MILTON MA 02186 X KIM BASSETT DIRECTOR (TRUSTEE), MEMBER 0.30 X 0 0 0 DAMIAN DEVASTO DIRECTOR (TRUSTEE) 0.30 X 0 0 0 JOSEPH B GILL DIRECTOR (TRUSTEE) 0.30 X 0 0 0 NEAL F FINNEGAN DIRECTOR (TRUSTEE) 0.30 X 0 0 0 LILY S HSU DIRECTOR (TRUSTEE) 0.30 X 0 0 0 NEAL J HARTE DIRECTOR (TRUSTEE) 0.30 X 0 0 0 KEVIN W LEARY DIRECTOR (TRUSTEE) 0.30 X 0 0 0 JUDGE ANTOINETTE LEONEY DIRECTOR (TRUSTEE) 0.30 X 0 0 0 JOSEPH D MCGLINCHEY II DIRECTOR (TRUSTEE), (UNTIL 12/31/17) 0.30 X 0 0 0 REV JOHN O'DONNELL DIRECTOR (TRUSTEE), (UNTIL 3/21/18) 0.30 X 0 0 0 SR MARIE PULEO DIRECTOR (TRUSTEE), (UNTIL 5/26/18) 0.30 X 0 0 0 JOSEPH M RIZZO DIRECTOR (TRUSTEE), (FROM 12/31/17) 0.30 X 0 0 0 MARCEL VERNON DIRECTOR (TRUSTEE) 0.30 X 0 0 0 CHRISTOPHER C HARDING DIRECTOR (TRUSTEE), VICE CHAIR 0.30 X X 0 0 0 LAURA DOWNING DIR TRUSTEE CHAIR, INTERIM PRES (1/1/18-1/7/18) 2.00 X X 14711 0 134 DR JACK CALARESO PRESIDENT (1/8/18-4/13/18) 40.00 X 0 0 0 MARILYN GARDNER INTERIM PRESIDENT (FROM 4/14/18) 40.00 X 116360 0 5629 LEA JOHNSON INTERIM PRESIDENT (6/19/17-12/31/17) 40.00 X 133636 0 0 ROY SCHIFILLITI VP OF STRATEGY & ADMINISTRATION 40.00 X 188053 0 36185 CATHERINE PHILBIN VP INSTITUTIONAL 40.00 X 155499 0 27017 KATHLEEN STUBBS FACULTY 40.00 X 135851 0 12665 QUINTIN LATIN CHIEF INFORMATION OFFICER 40.00 X 132765 0 13324 KAREN MANNING CHAIR OF NURSING 40.00 X 127606 0 36130 MATTHEW GREGORY VP OF ENROLLMENT 40.00 X 124102 0 17625 DEIRDRE HAMMEL ASSISTANT CHAIR & CLINICAL COORDINATOR 40.00 X 131796 0 1201 MAUREEN A SMITH FORMER PRESIDENT 40.00 X 284215 0 17218 MARK VIRELLO FORMER CFO/TREASURER 40.00 X 159352 0 9022 ALBERT DECICCIO FORMER VP ACADEMIC AFFAIRS 40.00 X 127929 0 14427 1831875 0 190577 20 1 1 0 JENZABAR PO BOX 55018 BOSTON MA 02205 SOFTWARE MAINTENANCE 203586 SCORPION CONSTRUCTION GROUP INC PO BOX 540-176 MILLIS MA 02054 CONSTRUCTION 186072 GOV CONNECTION INC POBOX 536477 PITTSBURGH PA 152535906 CLASSROOM EQUIPMENT 140313 3 89446 129674 10000 219120 TUITION FEES 611310 17640757 17640757 17640757 62053 62053 0 89446 85634 -85634 -85634 LOAN INCOME FEE 900099 11159 11159 14153 14153 25312 17861608 17651916 0 -9428 821751 821751 680724 323718 307505 49501 8124622 6673036 1409996 41590 178761 178761 1327227 995420 306737 25070 651307 651307 64609 64609 62851 62851 11884 11884 1065609 253041 789168 23400 314994 14528 296264 4202 305254 16675 288276 303 210659 210659 350093 350093 53748 24529 29219 82212 61937 20275 300396 300396 498574 498574 121795 121795 SUPPLIES 365783 365783 BAD DEBT EXPENSE 118693 118693 STRATEGIC INITIATIVES 68600 68600 STUDENT ACTIVITIES 27051 27051 578970 418285 137769 22916 16386167 9995754 6223431 166982 9885385 12020158 76087 11129 6213699 5631478 541616 555766 271657 254664 14283485 2254104 12293130 12029381 3106604 3337238 28465 28465 32416643 33868279 1539401 1439062 192255 296856 8266088 8079915 663200 748259 7233819 7126401 17894763 17690493 X 11426416 12928580 1865398 2013540 1230066 1235666 14521880 16177786 32416643 33868279 1475441 180465 0 X 0 1 X 1 1 1 X 28465 X X 0 3106682 5600 230634 3342916 2788390 100 318192 3106682 2613359 100 6630 32000 2588089 2561252 1000 89607 38500 2613359 2169443 57900 369309 35400 2561252 0.09190 0.36960 0.53850 0 0 2000000 2000000 10989195 1219418 9769777 1294290 1034686 259604 12029381 COMMON FUND MULTI STRATEGY EQUITY FUND 2081174 F COMMON FUND MULTI STRATEGY BOND FUND 1256064 F 3337238 TUITION AND FEES BILLED IN ADVANCE 7126401 7126401 X 17294072 180465 -821751 -641286 17935358 11884 -85634 -73750 17861608 15638166 85634 85634 15552532 11884 821751 833635 16386167 PART III, LINE 4: LABOURE COLLEGE RECEIVED A COLLECTION OF 23 PIECES OF DONATED ART FROM AN ORGANIZATION KNOWN AS THE ART CONNECTION WHICH HELPS ARTISTS DONATE ORIGINAL WORKS OF ART TO SOCIAL SERVICE AGENCIES (PUBLIC AND NONPROFIT) IN THE GREATER BOSTON AREA. THE ART IS VARIOUS PAINTINGS HANGING IN AND AROUND THE COLLEGE CAMPUS. THE COLLEGE CONSIDERS THIS ART TO BE A COLLECTION. THEY ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THEY ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED, AND THEY ARE SUBJECT TO AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS OF ITEMS THAT ARE SOLD TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PART V, LINE 4: ENDOWMENT FUNDS ARE PRIMARILY USED FOR SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE IS RECOGNIZED AS A NON-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE COLLEGE RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2018 AND 2017. WITH FEW EXCEPTIONS, THE COLLEGE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2015. THE COLLEGE WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED WITH TUITION AND FEES REVENUE ON AUDITED FS -821,751. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B -85,634. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B 85,634. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED WITH TUITION AND FEES REVENUE ON AUDITED FS 821,751. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE MEETS THE GUIDELINE IDENTIFIED IN REV. PROC. 75-50, 1975-2 C.B. 587, SEC. 4.03 2(C). THEREFORE, THE COLLEGE IS NOT REQUIRED TO USE THE NEWSPAPER OR BROADCAST MEDIA. THE STATEMENT OF NONDISCRIMINATORY POLICY IS ON THE WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES STUDENT FINANCIAL AID FROM FEDERAL AND STATE AGENCIES. THE COLLEGE FINANCIAL AID OFFICE MONITORS THE GRANTS AND MAINTAINS THE GRANT RECORDS. SCHEDULE E, LINE 6B: AS A RESULT OF THE CHANGE IN CONTROL ON JUNE 30, 2013, THE COLLEGE PROVIDED TO THE US DEPARTMENT OF EDUCATION ("USDOE") VARIOUS DOCUMENTS FOR THEIR ACCEPTANCE AND APPROVAL IN ORDER TO MAINTAIN CONTINUED ELIGIBILITY IN THE TITLE IV FINANCIAL AID PROGRAMS (THE "PROGRAM"). THE USDOE HAD NOTIFIED THE COLLEGE THAT THE SUBMISSION WAS INCOMPLETE AND AS A RESULT, THE USDOE STATED THAT THE COLLEGE LOST INSTITUTIONAL ELIGIBILITY TO PARTICIPATE IN THE PROGRAM. MANAGEMENT BELIEVED THE APPLICABLE REQUIREMENTS WERE PROPERLY MET. REINSTATEMENT OF ELIGIBILITY IN THE PROGRAM WAS CONTINGENT UPON THE USDOE'S ACCEPTANCE OF THE SUBMISSION OF THE COLLEGE'S AUDITED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND AN APPROVED LETTER OF CREDIT. THE COLLEGE WAS REINSTATED BY THE USDOE IN THE PROGRAM ON NOVEMBER 27, 2013. BOSTON SPORTS LEGENDS 89446 89446 3600 4850 27430 8000 41754 89446 89446 3600 4850 27430 8000 41754 85634 -85634 1 STUDENT FINANCIAL AID 285 821751 FMV ALL GRANTS ARE FOR FINANCIAL ASSISTANCE TO ATTEND LABOURE COLLEGE PART I, LINE 2: THE FINANCIAL AID DEPARTMENT ISSUES AND MONITORS STUDENT FINANCIAL AID AWARDS. THE FINANCE DIVISION MONITORS THE SCHOLARSHIPS AND DISCOUNTS REFLECTED ON STUDENT BILLING. STUDENT AID IS AWARDED ACCORDING TO THE COLLEGE'S PROCEDURES. STUDENT AID IS AWARDED BASED ON MEETING ESTABLISHED CRITERIA WHICH INCLUDE ACADEMIC ACHIEVEMENT AND FINANCIAL NEED. X X 1 0 0 0 0 0 0 0 0 ROY SCHIFILLITI VP OF STRATEGY & ADMINISTRATION 187844 0 0 0 209 0 3733 0 32452 0 224238 0 0 0 CATHERINE PHILBIN VP INSTITUTIONAL 153829 0 0 0 1670 0 4873 0 22144 0 182516 0 0 0 KAREN MANNING CHAIR OF NURSING 126855 0 0 0 751 0 3978 0 32152 0 163736 0 0 0 MAUREEN A SMITH FORMER PRESIDENT 164942 0 0 0 119273 0 10460 0 6758 0 301433 0 0 0 MARK VIRELLO FORMER CFO/TREASURER 100830 0 0 0 58522 0 3702 0 5320 0 168374 0 0 0 ALBERT DECICCIO FORMER VP ACADEMIC AFFAIRS 89845 0 0 0 38084 0 2543 0 11884 0 142356 0 0 0 PART I, LINE 4A SEVERAL INDIVIDUALS RECEIVED SEVERANCE PAYMENTS; THE AMOUNTS ARE REPORTED ON SCHEDULE J. DUE TO CONFIDENTIALITY CONCERNS, THE NAMES OF THE INDIVIDUALS ARE NOT DISCLOSED. THE DETAILED INFORMATION IS AVAILABLE TO THE IRS UPON REQUEST. A MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY 043431814 2013-07-24 9040000 SEE PART VI 0 0 0 A 800025 9040000 204840 8835160 2013 0 0 0 1 A 0 0 0 0 0 0 1 A 0 1 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, COLUMN F: THE ACQUISITION AND RENOVATION OF THE FIVE ACRES OF LAND AND IMPROVEMENTS THEREON AT 303 ADAMS STREET, MILTON, MA. FOR THE RELOCATION OF THE BORROWER'S CAMPUS THERETO, INCLUDING CREATION OF APPROXIMATELY 130 ADDITIONAL PARKING SPACES. GENERAL REFURBISHMENT AND ADA COMPLIANCE IMPROVEMENTS; ACQUISITON AND INSTALLATION OF MISCELLANEOUS FURNITURE, FIXTURES AND EQUIPMENT AT THE ABOVE-REFERENCED PROPERTY, AND PAYING CERTAIN COSTS OF ISSUING THE BONDS AND OTHER COMMON COSTS. FORM 990, PART VI, SECTION A, LINE 6 THERE IS A SLATE OF MEMBERS. CURRENTLY THE SLATE IS COMPOSED OF THREE INDIVIDUALS. THE COLLEGE BYLAWS HAVE ALWAYS CLEARLY ENUMERATED WHAT THE MEMBERS ARE ALLOWED TO DO. FORM 990, PART VI, SECTION A, LINE 7B THE GOVERNANCE DECISIONS OF THE CURRENT SLATE OF MEMBERS ARE LIMITED TO APPROVING CHANGES TO THE ARTICLES OF ORGANIZATION; APPROVING MERGERS, DISSOLUTION, OR CONSOLIDATIONS; AND APPROVING CHANGES OF THE PURPOSE OF THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE'S AUDITORS REVIEW THE FORM 990 PRIOR TO ITS REVIEW AND APPROVAL BY THE LABOURE COLLEGE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT ANNUALLY GATHERS RESPONSES AND MONITORS COMPLIANCE. THE PRESIDENT, VICE PRESIDENTS, AND DIRECTORS MUST PROVIDE A STATEMENT IDENTIFYING ANY CONFLICT OF INTEREST. ANY INDIVIDUAL WHO HAS A CONFLICT OF INTEREST CANNOT PARTICIPATE IN DECISIONS RELATED TO THE CONFLICT UNTIL THE END OF THE CONFLICT OF INTEREST. THE PRESIDENT PERFORMS THE REVIEW AND DETERMINES WHETHER CONFLICT EXIST. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, DIRECTORS OF THE COLLEGE BOARD REVIEW AND DETERMINE THE COMPENSATION OF THE COLLEGE PRESIDENT. ON AN ANNUAL BASIS, THE PRESIDENT PERFORMS AN ANNUAL REVIEW OF COMPENSATION OF OFFICERS. THE REVIEW INCLUDES COMPARISON TO INDUSTRY DATA, INDIVIDUAL PERFORMANCE DATA, INCREASES PROVIDED TO OTHER EMPLOYEES, AND OTHER FACTORS. THE PRESIDENT DETERMINES THE COMPENSATION OF OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE FORM 990 IS AVAILABLE VIA GUIDESTAR AND MASSACHUSETTS ATTORNEY GENERAL'S OFFICE WEBSITES. FORM 990, PART VII, SECTION A LEA JOHNSON WAS HIRED THROUGH THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS. SHE WAS INTERIM PRESIDENT FROM JUNE 19, 2017 TO DECEMBER 2017. THE COLLEGE PAYS THE REGISTRY FOR HER SALARY AS WELL AS FOR SERVICE FEES. LEA'S COMPENSATION IS INCLUDED IN PART VII.