2015-11-12T10:32:25-06:00 2015-06-30 263582184 CAIN BOURRET JARRY & ASSOCIATES LLC 1595 LAKEVIEW AVENUE DRACUT MA 01826 990 2014-07-01 042052723 INDEPENDENT UNIVERSITY ALUMNI ASSOCIATION AT LOWELL INDE 9784546335 PO BOX 242 LOWELL MA 01853 RICHARD H DONALDSON TREASURER 9784546335 2015-11-12 true STEVEN R BOURRET P00042047 9789571421 2015-11-12 2014 2016-02-25 16:41:14Z MARY ANN KITROSSER 788 LOWELL ROAD CARLISLE MA 01741 421591 false X WWW.IUAAL.ORG X 1947 MA THE ALUMNI ASSOCATION WAS ESTABLISHED TO BENEFIT THE STATE UNIVERSITY AND ASSIST THE UNIVERSITY IN MAINTAINING COMMUNICATION WITH FORMER ALUMNI AND THE STUDENT BODY. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY IS TO PROVIDE COLLEGE SCHOLARSHIPS AND GRANTS TO WORTHY AND NEEDY STUDENTS. THE ASSOCIATION IS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS. 16 16 1 18 0 26150 23255 0 237441 257844 68153 72738 331744 353837 130815 152615 0 57372 57831 0 1975 85948 86267 274135 296713 57609 57124 8332486 7922131 11590 13501 8320896 7908630 X THE ALUMNI ASSOCATION WAS ESTABLISHED TO BENEFIT THE STATE UNIVERSITY AND ASSIST THE UNIVERSITY IN MAINTAINING COMMUNICATION WITH FORMER ALUMNI AND THE STUDENT BODY. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY IS TO PROVIDE COLLEGE SCHOLARSHIPS AND GRANTS TO WORTHY AND NEEDY STUDENTS. THE ASSOCIATION IS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS. false false 152615 16215 257844 PROVIDING SCHOLARSHIPS TO INDIVIDUALS ATTENDING THE UNIVERSITY OF MASSACHUSETTS LOWELL WHO OTHERWISE MIGHT NOT HAVE THE FINANCIAL MEANS TO ATTEND COLLEGE. APPROXIMATELY 74 SCHOLARSHIPS AND AWARDS WERE DISBURSED WHILE ALSO PROVIDING 9 GRANTS TO THE UNIVERSITY'S COLLEGE OF MANAGEMENT, ENGINEERING, MUSIC AND PSYCHOLOGY DEPARTMENTS. 122155 95993 THESE EXPENSES HELP THE ALUMNI ASSOCIATION MAINTAIN STAFFING AND COMMUNICATIONS BETWEEN UNIVERSITY FACULTY, ALUMNI AND THE CURRENT STUDENT POPULATION. THE ALUMNI STAFF COMMUNICATES WITH ALUMNI THROUGH NEWSLETTERS AND MAILING, ALONG WITH CONDUCTING VARIOUS SOCIAL EVENTS. THE ASSOCIATION ALSO PROVIDES SHORT TERM LOANS TO STUDENTS IN NEED. 274770 true false false false false false false false false true true false false false true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false true 1 0 true 1 true false false false false false false false false false false false false X 16 16 false false false false false false false true true false false true false false false false true false MA X MARIANTHE DABEKIS 9784546335 ONE UNIVERSITY AVENUE LOWELL MA 01854 X RICHARD RUSSELL PRESIDENT 2.00 X X 0 0 0 KEVIN D SHANAHAN VICE PRESIDE 2.00 X X 0 0 0 THOMAS J VAUGHN SECRETARY 2.00 X X 0 0 0 RICHARD DONALDSON TREASURER 2.00 X X 0 0 0 MICHAEL ALPERT DIRECTOR 1.00 X 0 0 0 MARY ANN KITROSSER DIRECTOR 1.00 X 0 0 0 GEORGE L DUGGAN DIRECTOR 1.00 X 0 0 0 JOHN T O'DONNELL DIRECTOR 1.00 X 0 0 0 WALTER F DAWSON DIRECTOR 1.00 X 0 0 0 ARTHUR P MILLER DIRECTOR 1.00 X 0 0 0 THOMAS O'DONNELL DIRECTOR 1.00 X 0 0 0 JOSEPH F DIXON DIRECTOR 1.00 X 0 0 0 JAMES L SWARTZ DIRECTOR 1.00 X 0 0 0 PATRICIA GARDNER DIRECTOR 1.00 X 0 0 0 MARY GAIL JAGGERS DIRECTOR 1.00 X 0 0 0 DRUCILLA FITZGERALD DIRECTOR 1.00 X 0 0 0 false false false 16265 6990 23255 232031 232031 93567 67754 25813 25813 25813 ALUMNI GROUP INS. ROYALTIES 72403 72403 MISCELLANEOUS INCOME 335 335 72738 353837 26148 304434 16215 16215 136400 136400 40068 33657 5610 801 5921 4974 829 118 8617 7239 1206 172 3225 2708 452 65 1939 1629 271 39 9115 7657 1276 182 147 138 8 1 MANAGEMENT FEES - TRUST 48918 42069 6849 SCHOLARSHIP BANQUET 7152 7152 INSURANCE 4547 3819 637 91 OFFICE SUPPLIES AND EXPEN 4479 3762 627 90 9970 7351 2203 416 296713 274770 19968 1975 140159 110119 193137 211062 1264 1279 29231 28677 701 554 7996601 7596756 624 2361 8332486 7922131 10966 11140 624 2361 11590 13501 X 1982272 1891890 147759 156887 6190865 5859853 8320896 7908630 8332486 7922131 57124 -469390 X true X false true false X 24501 23688 21667 7665 23255 100776 24501 23688 21667 7665 23255 100776 100776 161036 174282 195047 208827 232031 971223 51515 57390 63210 67749 72403 312267 1384266 335 0.07280 0.09830 X PART II, LINE 10 ROYALTIES-USE OF MEMBERSHIP LIST 239,864 PART II, LINE 17B THE ORGANIZATION WAS ESTABLISHED IN 1947 TO SUPPORT THE OPERATIONS AND STUDENTS OF THE UNIVERSITY OF MASSACHUSETTS-LOWELL CAMPUS (FORMERLY LOWELL TECHNOLOGICAL INSTITUTE AND UNIVERSITY OF LOWELL). THE ORGANIZATION MANAGES ENDOWMENT FUNDS GENERALLY RECEIVED FROM FORMER FACULTY, STUDENTS AND BENEFACTORS OF THE UNIVERSITY. WITH THE EXCEPTION OF THE INTEREST AND DIVIDENDS EARNED ON THE ENDOWMENT FUNDS THE ORGANIZATION RECEIVES 100% OF ITS REVENUE FROM THE GENERAL PUBLIC OR FROM SOURCES DIRECTLY RELATED TO ITS CHARITABLE AND EXEMPT PURPOSE. THESE SOURCES OF REVENUE ARE FROM UNRELATED DONORS AND CONSIST OF THE ENTIRE GRADUATING CLASSES FROM 1947 TO THE PRESENT. THE GOVERNING BODY IS ELECTED BY THE CURRENT AND FORMER STUDENTS OF THE UNIVERSITY AND REPRESENT A DIVERSE BACKGROUND OF INDIVIDUALS FROM AROUND THE STATE AND COUNTRY. THE ORGANIZATION MAINTAINS DEFINITIVE PLANS ON ACCOMPLISHING ITS CHARITABLE WORK AND GOALS. ALL FORMER STUDENTS AND THE PUBLIC ARE INVITED AND WELCOME TO JOIN THE ORGANIZATION AND VOICE THEIR OPINIONS ON THE OPERATIONS OF THE ALUMNI ASSOCIATION. THE MEMBERSHIP FEE IS NOT MORE THAN 35 WHICH ENCOURAGES A BROAD CROSS SECTION OF THE INTERESTED PUBLIC TO JOIN. THE ONGOING ACTIVITY OF AWARDING SCHOLARSHIPS FOR AS MANY AS 100 STUDENTS EACH YEAR ATTRACTS ATTENTION AND COVERAGE BY THE LOCAL NEWS MEDIA. IN ADDITION, BASED ON THE FORMULA FOR DETERMINING PUBLIC SUPPORT, IT HAS ONLY BEEN IN RECENT YEARS THAT THE ORGANIZATION HAS FAILED THE 33 1/3% SUPPORT TEST. THE GOVERNING BOARD BELIEVES THIS IS DIRECTLY ATTRIBUTABLE TO THE DOWNTURN IN THE ECONOMY OVER THE LAST SEVERAL YEARS AND THEY FULLY EXPECT DONATIONS, GRANTS AND GIFTS TO REBOUND WHEN THE ECONOMY DOES. 8250604 1235 -211545 -152615 -77495 7810184 6633466 6635 1781818 -130815 -40500 8250604 5916587 6170 937243 -109050 -117484 6633466 5700313 410842 -92070 -91818 -10680 5916587 4221082 14815 1589506 -90184 -34906 5700313 false false 29231 28677 554 554 DUE TO OPERATING FUND 2361 2361 true UNIVERSITY OF MASSACHUSETTS-LOWELL COLLEGE OF MGMT & ENGINEERING DEPT ONE UNIVERSITY AVENUE LOWELL MA 01853 046002284 16215 DEPARTMENT SUPPORT COLLEGE TUITION ASSISTANC 86 136400 SCHEDULE I, PAGE 1, PART I, LINE 2 THE BOARD OF DIRECTORS IS SOLELY RESPONSIBLE FOR THE MONITORING AND DISBURSING OF ALL FUNDS. THE BOARD MEETS ON A MONTHLY BASIS TO REVIEW ALL SOURCES OF REVENUES AND EXPENSES. BASED ON ANNUAL BUDGET PROJECTIONS THE BOARD WILL AUTHORIZE CERTAIN DOLLAR AMOUNTS TO BE DISBURSED TO MEET THE STUDENT SCHOLARSHIPS. MANAGEMENT MUST REPORT TO THE BOARD MONTHLY REGARDING ALL USES OF FUNDS AND DISBURSEMENTS. THE BOARD THEN COMPARES ACTUAL VERSUS BUDGETED AMOUNTS AND VARIANCES ARE ANALYZED FOR POSSIBLY UNKNOWN DISCREPANCIES. FORM 990 - ORGANIZATION'S MISSION THE ALUMNI ASSOCATION WAS ESTABLISHED TO BENEFIT THE STATE UNIVERSITY AND ASSIST THE UNIVERSITY IN MAINTAINING COMMUNICATION WITH FORMER ALUMNI AND THE STUDENT BODY. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY IS TO PROVIDE COLLEGE SCHOLARSHIPS AND GRANTS TO WORTHY AND NEEDY STUDENTS. THE ASSOCIATION IS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE RETURN IS PROVIDED TO THE EXECUTIVE COMMITTEE, WHICH CONSISTS OF THE BOARD PRESIDENT, VICE PRESIDENT, TREASURER AND SECRETARY FOR REVIEW AND APPROVAL. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE BOARD OF DIRECTORS BASED ON CURRENT ECONOMIC CONDITIONS, JOB DESCRIPTION, LENGTH OF SERVICE AND EMPLOYEE EVALUATIONS. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION IS OPEN TO THE PUBLIC 5 DAYS A WEEK AND INDIVIDUALS DESIRING TO OBTAIN COPIES OF THE ORGANIZATION'S DOCUMENTS ARE FREE TO REQUEST THEM AT THIS OFFICE. ALSO, THE PUBLIC CAN MAKE A REQUEST THROUGH THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9 NET UNREALIZED LOSS ON INVESTMENT STOCK PORTFOLIO 469,390