2019-05-15T13:52:09-05:00 2018-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2017-07-01 042103865 BAY PATH UNIVERSITY BAYP 4135651219 588 LONGMEADOW STREET LONGMEADOW MA 01106 MICHAEL GIAMPIETRO VP FINANCE & ADMIN SERVICES 4135651219 2019-05-15 1 DAVID A DIIULIS P00303577 6174711120 2019-05-15 108.7.66.186 2019-05-15 10:04:51 ED P 1B2E1A561AFFFD3BBF97976B10C59320AC83D664 E27EA94F9E26D2F6CAFB6AA932DE270025BE9AD7 2017 2019-02-21 02:37:17Z MICHAEL GIAMPIETRO 588 LONGMEADOW STREET LONGMEADOW MA 01106 96270744 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 35 35 1484 184 4082 22633 4568258 4915237 62866051 64269783 1109793 3063348 777805 683418 69321907 72931786 11850203 12150686 0 0 31874976 35127371 0 0 780867 20861263 22453872 64586442 69731929 4735465 3199857 111632574 116404765 30107150 31704756 81525424 84700009 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 57963243 12150686 61159676 THE UNIVERSITY PROVIDES INSTRUCTIONS, ACADEMIC SUPPORT, STUDENT SERVICES, AND STUDENT FINANCIAL AID TO CARRY OUT ITS EXEMPT PURPOSES, SERVING APPROXIMATELY 3,400 STUDENTS 1779201 3690300 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. 59742444 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 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 205 0 1 1484 1 1 1 1 CJ 0 0 0 1 1 0 0 X 35 35 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 SUSAN DAVIS ABELLO TRUSTEE 1.00 X 0 0 0 TANIA M BARBER TRUSTEE 1.00 X 0 0 0 DELCIE D BEAN IV TRUSTEE 1.00 X 0 0 0 KAY BERNON TRUSTEE 1.00 X 0 0 0 JONATHAN F BESSE TRUSTEE 1.00 X 0 0 0 ROBERTA B BOLDUC TRUSTEE 1.00 X 0 0 0 JAMES M BRENNAN TRUSTEE 1.00 X 0 0 0 CINDY M BURKE 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 MARTIN M CAINE TRUSTEE 1.00 X 0 0 0 ANDREW DAVIS TRUSTEE 1.00 X 0 0 0 KATHLEEN A DEVLIN TRUSTEE 1.00 X 0 0 0 DIANNE FULLER DOHERTY TRUSTEE 1.00 X 0 0 0 EDWARD J FLEMING III TRUSTEE 1.00 X 0 0 0 ANN HAMMER TRUSTEE 1.00 X 0 0 0 SAMUEL HANMER TRUSTEE 1.00 X 0 0 0 JOHN F HEAPS JR TRUSTEE 1.00 X 0 0 0 STEPHEN D HOYT TRUSTEE 1.00 X 0 0 0 GEORGE KEADY TRUSTEE 1.00 X 0 0 0 ESTELA R LOPEZ PHD TRUSTEE 1.00 X 0 0 0 GRACE MAKARI-JUDSON MD TRUSTEE 1.00 X 0 0 0 CHARLENE MAZER TRUSTEE 1.00 X 0 0 0 ANGIE B MCGINNIS TRUSTEE 1.00 X 0 0 0 ROBYN A NEWHOUSE PHD TRUSTEE 1.00 X 0 0 0 LYNN PELLERANO TRUSTEE 1.00 X 0 0 0 PATRICIA J PIERCE TRUSTEE 1.00 X 0 0 0 LORI S ROOP TRUSTEE 1.00 X 0 0 0 JANE E ROULIER TRUSTEE 1.00 X 0 0 0 BARBARA SADOWSKY TRUSTEE 1.00 X 0 0 0 GLORIA SMITH TRUSTEE 1.00 X 0 0 0 MARY-ANN SPENCER CFA TRUSTEE 1.00 X 0 0 0 RICHARD B STEELE TRUSTEE 1.00 X 0 0 0 BRIAN TUOHEY TRUSTEE 1.00 X 0 0 0 HAMLINE C WILSON TRUSTEE 1.00 X 0 0 0 ANDREW LAM MD TRUSTEE 1.00 X 0 0 0 DR CAROL A LEARY PRESIDENT 55.00 X 428639 0 307533 MICHAEL GIAMPIETRO VP OF FINANCE AND ADMIN SERVICES 50.00 X 214831 0 42335 MELISSA MORRISS-OLSON PROVOST 50.00 X 229335 0 29179 KATHLEEN BOURQUE VP OF UNIVERSITY RELATIONS 50.00 X 184462 0 18003 AMANDA GOULD CHIEF ADMINISTRATIVE OFFICER 50.00 X 183295 0 17940 ELIZABETH FLEMING ASSOCIATE PROVOST AND DEAN SCHOOL OF EDUCATION 50.00 X 156463 0 27691 CARON HOBIN VP FOR STRATEGIC ALLIANCES 50.00 X 154158 0 27258 THOMAS LOPER ASSOC PROVOST AND DEAN SCHOOL OF ARTS AND SCIENCES 50.00 X 149980 0 17429 ANN DOBMEYER DEAN, DIVISION OF RESEARCH AND ACADEMIC RESOURCES 50.00 X 134917 0 22636 DIANE RANALDI DEAN OF GRADUATE AND INTERNATIONAL ADMISSIONS 50.00 X 132635 0 19875 1968715 0 529879 10 0 1 0 ARAMARK SERVICES INC 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1584386 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 94139 ADVERTISEMENT 970513 ANDREW ASSOCIATES INC 6 PEARSON WAY ENFIELD CT 06082 ADV.& MARKETING 608537 REACHLOCAL 745 BOYLSTON STREET 7TH FLOOR BOSTON MA 02116 ADVERTISEMENT 604825 THE GUILD FOR HUMAN SERVICES INC 521 VIRGINIA ROAD CONCORD MA 01742 CONSTRUCTION AND RENT 568916 33 334453 2505466 2075318 279272 4915237 TUITION 611600 60218030 60218030 RESIDENCE AND DINING 611710 3690300 3690300 WOMEN'S CONFERENCE 611710 349279 349279 THEATER DEPARTMENT 711110 12174 12174 64269783 1105449 1105449 171150 85346 85804 85804 1325 84479 25126425 22929398 239128 2197027 -239128 1957899 1994 1955905 96701 334453 84421 12280 12280 5140 665 4475 4475 OTHER 900099 287227 287227 FOOD SERVICE 624200 259604 258841 763 BOOKSTORE 451211 34028 34028 580859 72931786 64849879 4082 3162588 104808 104808 11947189 11947189 98689 98689 1517305 510475 941829 65001 27413793 23813806 3099408 500579 1939743 1685015 219308 35420 2053346 1563734 473468 16144 2203184 1913862 249092 40230 94905 94905 129750 129750 3957032 3154194 764259 38579 5853678 5099703 753975 1923982 1654147 249899 19936 842469 767487 74982 1701572 1447748 253824 511991 466140 39118 6733 141582 125130 14747 1705 574506 459605 114901 3511930 3109172 402758 211944 211944 STUDENT BOARD 1258969 1258969 MISC 1141099 136952 1004108 39 ENTERTAINMENT 426933 310679 63491 52763 MEMBERSHIPS 171530 114940 52852 3738 69731929 59742444 9208618 780867 3686650 8239837 2014299 28804 1094692 968932 5031358 6596437 2088825 1863964 38510 0 821590 977169 86314763 47379287 40968204 38935476 52520727 49107106 3367719 9687040 111632574 116404765 3444062 3860874 752904 752904 6246904 7932334 17673807 17097519 145552 133908 1843921 1927217 30107150 31704756 X 67703631 69246709 3968307 4580961 9853486 10872339 81525424 84700009 111632574 116404765 X 3199857 -20795 -4477 X X 0 1 X 1 1 1 X 3078759 3752705 4060212 4568258 4915237 20375171 3078759 3752705 4060212 4568258 4915237 20375171 20375171 696315 832007 837632 1054836 1105449 4526239 3519 7633 3297 1991 16440 5309 4585 6295 4475 20664 24938514 0.81700 0.76250 X 0 1 X 46320446 1261465 3273434 252849 23157 50579339 40824792 1171084 4575235 227107 23558 46320446 41457507 657397 -1064015 206604 19493 40824792 40865240 826440 -53727 161243 19203 41457507 35357876 583754 5399947 137567 335770 40868240 0.76790 0.20440 0.02770 1 0 6095795 6095795 786738 51059777 23443820 28402695 1577708 256084 1321624 13378562 11325561 2053001 13416183 12353822 1062361 38935476 PRIVATE EQUITY 420615 F HEDGE FUNDS 9266425 F 9687040 OTHER LONG TERM LIABILITIES 1744502 ANNUITY OBLIGATIONS 182715 1927217 X 59648479 -1612900 -12045878 -13658778 73307257 -375471 -375471 72931786 57826871 140820 140820 57686051 12045878 12045878 69731929 PART IV, LINE 2B: THE UNIVERSITY HOLDS DEPOSITS FROM STUDENTS AS SECURITY FOR RESIDENTIAL DORMITORY DAMAGE, AS WELL AS TUITION DEPOSITS. 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 -12,045,878. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -56,399. FUNDRAISING EXPENSE -84,421. RAFFLE INCOME 4,475. NET LOSS ON DISPOSITION -239,126. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL PROPERTY EXPENSE 56,399. FUNDRAISING EXPENSE 84,421. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 12,045,878. 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 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 AUSTRALIA 0 0 PROGRAM SERVICES STUDY ABROAD 9029 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MARKETING 633 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES AGENTS' COMMISSIONS 5034 EUROPE 0 0 PROGRAM SERVICES MARKETING 2850 RUSSIA/INDEPENDENT STATES 0 0 GRANTS TO RECIPIENTS 10000 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS 15000 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS 73689 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS 3980467 0 0 0 0 0 0 4096702 0 4096702 EDUCATION RUSSIA AND NEIGHBORING STATES 1 10000 CREDIT AMOUNT EDUCATION SUB-SAHARAN AFRICA 1 15000 CREDIT AMOUNT EDUCATION EAST ASIA AND THE PACIFIC 5 73689 CREDIT AMOUNT 1 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. GALA (DINNER DANCE) 431029 334453 96576 855 1500 31132 15790 35048 431029 334453 96576 855 1500 31132 15790 35048 84325 12251 1 TOWN OF LONGMEADOWN 20 WILLIAMS STREET LONGMEADOW MA 01106 046001204 62158 PILOT PROGRAM AND QUINT TRUCK TOWN OF EAST LONGMEADOW 60 CENTER SQUARE LONGMEADOW MA 01028 046001139 22000 PILOT PROGRAM AND FIRE AND POLICE 2 SCHOLARSHIPS AND AID TO STUDENTS 1727 11947189 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 X 1 1 X X X 0 0 0 0 0 0 0 1 0 DR CAROL A LEARY PRESIDENT 423469 0 0 0 5170 0 267300 0 40233 0 736172 0 0 0 MICHAEL GIAMPIETRO VP OF FINANCE AND ADMIN SERVICES 201842 0 12500 0 489 0 19403 0 22932 0 257166 0 0 0 MELISSA MORRISS-OLSON PROVOST 215572 0 12500 0 1263 0 19696 0 9483 0 258514 0 0 0 KATHLEEN BOURQUE VP OF UNIVERSITY RELATIONS 174232 0 8000 0 2230 0 15780 0 2223 0 202465 0 0 0 AMANDA GOULD CHIEF ADMINISTRATIVE OFFICER 170081 0 12500 0 714 0 15439 0 2501 0 201235 0 0 0 ELIZABETH FLEMING ASSOCIATE PROVOST AND DEAN SCHOOL OF 154990 0 0 0 1473 0 14595 0 13096 0 184154 0 0 0 CARON HOBIN VP FOR STRATEGIC ALLIANCES 152275 0 1000 0 883 0 14381 0 12877 0 181416 0 0 0 THOMAS LOPER ASSOC PROVOST AND DEAN SCHOOL OF ART 144408 0 0 0 5572 0 13292 0 4137 0 167409 0 0 0 ANN DOBMEYER DEAN, DIVISION OF RESEARCH AND ACADE 134369 0 0 0 548 0 12469 0 10167 0 157553 0 0 0 DIANE RANALDI DEAN OF GRADUATE AND INTERNATIONAL A 131893 0 0 0 742 0 12155 0 7720 0 152510 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 PRESIDENT RESIDES 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 UNIVERSITY PAYS FOR THE PRESIDENT'S MEMBERSHIP IN A LOCAL COUNTRY CLUB AND A SOCIAL CLUB, ENTIRELY FOR BUSINESS PURPOSES. THE VALUE OF THE PRESIDENT'S HOUSING IS $20,310 FOR THE YEAR AND IS INCLUDED IN HER SCHEDULE J,PART II, COLUMN (D) COMPENSATION. PART I, LINE 7 THE AMOUNTS REPORTED IN PART II, COLUMN (B)(II) REPRESENT PERFORMANCE-BASED BONUSES. IN JUNE OF EACH YEAR, IF IT IS DETERMINED THAT SUFFICIENT FUNDS ARE AVAILABLE, THE PRESIDENT HAS DISCRETION IN OFFERING CERTAIN EMPLOYEES BONUSES FOR EXTRAORDINARY WORK PERFORMANCE. EMPLOYEES ELIGIBLE FOR THESE BONUSES USUALLY INCLUDE FULL-TIME, FACULTY AND STAFF. THE PRESIDENT, WHO MAY CONSULT WITH THE DIVISIONAL VICE PRESIDENT IF NECESSARY, DETERMINES THE AMOUNT OF THE BONUSES TO BE AWARDED, SUBJECT TO RANGE LIMITS. DISCRETIONARY BONUSES WERE BETWEEN $250 AND $12,500 FOR EMPLOYEES. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY SERIES 2013 043431814 2013-12-23 19500000 CONSTRUCT/EQUIP/REFUND 2006 0 0 0 A 2284453 19500000 100000 12108657 6734874 556469 2014 1 0 0 1 A 0 0 1 1 0 0.00040 0.00040 0 0 1 A 0 1 1 0 1 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 22 279272 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 COMPENSATION SUB-COMMITTEE(SUB-COMMITTEE) OF THE EXECUTIVE 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. THE SUB-COMMITTEE CONSIDERS COMPARATIVE DATA FROM PEER INSTITUTIONS, OTHER WOMEN'S COLLEGES, AND OTHER COLLEGES IN MASSACHUSETTS IN DETERMINING THE AMOUNT OF COMPENSATION. THE SUB-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 FORM 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. FORM 990, PART XI, LINE 9: RAFFLE NET INCOME -4,477. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.