2014-05-13T07:44:34-05:00 2013-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2012-07-01 041081650 BENTLEY UNIVERSITY % JAMES FUERST BENT 7818912000 175 FOREST STREET Suite WALTHAM MA 024524705 KENNETH B CODY 7818912169 2014-05-12 true 6179881000 2012 2015-11-30 17:44:51Z KENNETH CODY 175 FOREST STREET WALTHAM MA 024524705 288242323 false X WWW.BENTLEY.EDU X 1917 MA TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE WITHIN AND ACROSS BUSINESS AND THE ARTS AND SCIENCES. SEE SCHEDULE O 23 21 2924 40 1120797 6354000 8241000 233141190 245016000 392000 3120241 2049452 1705000 241936642 258082241 62320000 67993000 0 0 104300247 106188788 0 21256 5461233 75896395 78561956 242516642 252765000 -580000 5317241 482366000 507885000 219019000 204071000 263347000 303814000 X TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE WITHIN AND ACROSS BUSINESS AND THE ARTS AND SCIENCES. false false 136748000 67993000 196434000 *INSTRUCTION* BENTLEY PLACES VITAL EMPHASIS ON THE QUALITY OF ITS TEACHER/SCHOLAR FACULTY. THE FACULTY IS COMMITTED TO ESTABLISHING EFFECTIVE TEACHING AND LEARNING RELATIONSHIPS WITH STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM WHILE PURSUING A SCHOLARLY AND RESEARCH AGENDA IN SUPPORT OF THE TEACHING MISSION. BENTLEY ENHANCES TEACHING EXCELLENCE ACROSS CAMPUS THROUGH A NUMBER OF INITIATIVES INCLUDING MENTORING ACTIVITIES, INTERNAL AND EXTERNAL DEVELOPMENT PROGRAMS, AND PROMOTING THE SCHOLARSHIP OF TEACHING AND LEARNING. CONTINUED ON SCHEDULE O 37726000 0 42443000 *AUXILIARY ENTERPRISES* THE MAIN PURPOSE OF THE UNIVERSITY'S AUXILIARY SERVICES IS TO PROVIDE ROOM AND BOARD CAPABILITIES TO THE STUDENTS WHO CHOOSE TO LIVE ON THE CAMPUS. ABOUT 80 PERCENT OF FULL-TIME BENTLEY UNDERGRADUATES LIVE ON CAMPUS - AND AMONG FRESHMEN, THAT FIGURE IS APPROXIMATELY 98 PERCENT. FRESHMAN LIVE IN TRADITIONAL DORMITORY RESIDENCE HALLS WITH DOUBLE, TRIPLE, OR QUAD OCCUPANCY. UNDERCLASSMEN OPTIONS INCLUDE SUITES AND ONE, TWO, AND THREE BEDROOM APARTMENTS WITH BATHROOMS AND KITCHENETTES. ALL STUDENTS BENEFIT FROM INDIVIDUAL ACCESS TO THE INTERNET AND THE UNIVERSITY NETWORK IN THEIR OWN ROOM. CONTINUED ON SCHEDULE O 32044000 0 1705000 *STUDENT SERVICES* BENTLEY IS DEDICATED TO CREATING A SAFE, CIVIL AND INCLUSIVE COMMUNITY. ITS STAFF STRIVES TO DEVELOP A COMFORTABLE LIVING ENVIRONMENT WHERE THE RULES AND NEEDS OF THE COMMUNITY ARE VITAL TO FOSTERING THE PERSONAL AND INTELLECTUAL GROWTH FOR ALL ITS RESIDENTIAL STUDENTS. CONTINUED ON SCHEDULE O 14549000 0 6139000 221067000 true true false true false false false true false true true true false false true true true false true false true false true true false false false false true true true false false false false false false true false false true true false false false false true true true false true 7408 0 true 2924 true true true false false false false false false false false false X 23 21 false false false false false false false true true false false true true true true true true true true false MA X X JAMES FUERST 7818912169 175 FOREST STREET WALTHAM MA 024524705 ROBERT ALAN 1.0 X 0 0 0 KEVIN F ARMATA 2.0 X 0 0 0 ROBERT P BADAVAS 8.0 X 0 0 0 DALE L CARLETON 1.0 X 0 0 0 J TERENCE CARLETON 2.0 X 0 0 0 KENNETH H COLBURN 1.0 X 0 0 0 JOHN W CUMMING 1.0 X 0 0 0 CYNTHIA M DEYSHER 2.0 X 0 0 0 WILLIAM C FREDA 2.0 X 0 0 0 ANDREW J HAJDUCKY 2.0 X 0 0 0 DANIEL A KESHIAN 3.0 X 0 0 0 WCARL KESTER 1.0 X 0 0 0 FRANCIS F KINGSLEY 1.0 X 0 0 0 DEBORAH L LEITCH 2.0 X 0 0 0 STEVEN P MANFREDI 10.0 X 0 0 0 I NORMAN MASSRY 2.0 X 0 0 0 MARK B SKALETSKY 1.0 X 0 0 0 NICKOLAS STAVROPOULOS 1.0 X 0 0 0 JEROEN VAN DEN HOVEN 1.0 X 0 0 0 DAVID H WEENER 1.0 X 0 0 0 TANYA N HAIRSTON WHITNER 2.0 X 0 0 0 BRIAN T ZINO 1.0 X 0 0 0 GLORIA C LARSON 65.0 X X 585016 0 94254 WILLIAM TORREY 40.0 X 385398 0 25235 MICHAEL J PAGE 40.0 X 361688 0 33426 TRACI A LOGAN 40.0 X 398209 0 35926 JOANN C MCKENNA 40.0 X 293303 0 30963 JUDITH A MALONE 40.0 X 202848 0 46117 KENNETH B CODY 40.0 X 62422 0 84 JAMES E HUNTON 40.0 X 394439 0 48054 ROBERT D GALLIERS 40.0 X 389801 0 38471 M LYNNE MARKUS 40.0 X 380098 0 33471 JEAN C BEDARD 40.0 X 344277 0 41291 PAUL CLEMENTE 40.0 X 320329 0 45269 KATHLEEN L YORKIS 0.0 X 210161 0 44698 4327989 0 517259 235 true true false KPMG TWO FINANCIAL CTR 60 SOUTH STREET BOSTON MA 02111 AUDITORS 248500 THE BOSTON CONSORTIUM 1763 GREAT PLAIN AVENUE NEEDHAM MA 02492 INTERNAL AUDIT 222068 CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 02110 INVESTMENT ADVISORS 205554 GLOBAL LEARNING LLC 100 TRADE CENTER SUITE G-700 WOBURN MA 01801 TRAVEL AGENT 202572 HOLLAND KNIGHT LLP 10 ST JAMES AVENUE BOSTON MA 02116 LEGAL 200529 10 1609000 6632000 298121 8241000 TUITION AND FEES 900099 196434000 196434000 AUXILIARY 900099 47478558 46262249 1216309 CONFERENCE SERVICES 721000 1011356 1011356 NATATORIUM USE 713990 92086 92086 245016000 1142000 17355 1124645 0 0 0 0 0 0 0 32138323 0 30160082 1978241 0 1978241 1978241 0 0 0 0 0 OTHER SOURCES 900099 1705000 1705000 1705000 258082241 244401249 1120797 4319195 0 65660858 65660858 2332142 2332142 0 2486303 183354 2036949 266000 0 80994193 66559422 11205243 3229528 6349687 4717091 1294000 338596 11112226 9091446 1658679 362101 5246379 4007580 991427 247372 992822 538455 433492 20875 684172 681091 3081 280645 280645 2134 2134 21256 21256 0 6154400 4776017 1378383 5338578 4920655 406928 10995 5803800 4550634 975667 277499 0 0 13733354 13366659 231213 135482 1206702 1089331 21228 96143 0 1214622 1032773 149701 32148 7852599 7516456 336143 0 18939847 18256545 683302 0 643518 25563 617955 PURCHASED SERVICES 7725713 5202031 2104758 418924 LEASING AND RENTALS 1684619 1628823 54563 1233 STUDY ABROAD 4253643 4253643 MISCELLANEOUS 2050788 1357522 693266 252765000 221067000 26236767 5461233 0 0 18890000 23025000 3057000 2627242 1062000 1011758 0 0 0 0 0 0 0 0 1538000 2610000 413627000 172190000 244582000 241437000 141029197 159720067 62028803 67340933 7976000 7903000 0 0 2203000 2210000 482366000 507885000 25818000 24049000 0 0 7517000 6615000 139200000 136006000 0 0 0 0 0 0 0 0 46484000 37401000 219019000 204071000 X 178902000 209980000 42896000 50399000 41549000 43435000 263347000 303814000 482366000 507885000 X 5317241 24140759 11009000 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 2134 2134 false LOBBYING EXPENSES PART II-B, LINE 1I TOTAL MISCELLANEOUS LOBBYING EXPENSES OF $2,134 INCLUDES DUES PAID TO THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES IN MASSACHUSETTS AS IT RELATES TO THEIR LOBBYING EFFORTS. 242465 X false 192708000 7747000 26113000 2267487 6367513 217933000 199966000 2344000 -1968000 2293506 5340494 192708000 162734000 14154000 30201000 2478770 4644230 199966000 150082000 296000 20682000 2688612 5637388 162734000 213924000 360000 -54021000 2550479 7630521 150082000 0.62000 0.19000 0.19000 true false 31871000 31871000 333549000 134412345 199136655 47574000 37652327 9921673 633000 125328 507672 241437000 HEDGE FUNDS 49837202 F PARTNERSHIPS 17503731 F 67340933 0 INTEREST RATE SWAP AGREEMENTS 23344000 POST RETIREMENT BENEFITS 7430000 REFUNDABLE U.S. GOVERNMENT GRA 6627000 37401000 X 293576000 24140759 11353000 35493759 258082241 258082241 253109000 344000 344000 252765000 252765000 COLLECTIONS OF ART PART III, LINE 4 THE UNIVERSITY OWNS A MODERN COLLECTION OF ABOUT 30 PAINTINGS AND SCULPTURES THAT APPEAR IN PUBLIC COMMON AREAS THROUGHOUT THE CAMPUS, IN CONFERENCE ROOMS, AND IN THE PRESIDENT'S HOUSE. ENDOWMENT FUNDS PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT PROVIDES FOR SCHOLARSHIPS TO STUDENTS, SUPPORT FOR ACADEMIC PROGRAMS, AND SUPPORT FOR PROGRAM ACTIVITIES. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE UNIVERSITY GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THERE WERE NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2013 OR 2012. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS $11,353,000 OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XII, LINE 2D CHANGE IN VALUE OF SPLIT INTEREST TRUST $238,000 CHANGE IN POST-RETIREMENT RETIREMENT COSTS $106,000 TOTAL $344,000 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 BENTLEY UNIVERSITY DOES NOT DISCRIMINATE IN ADMISSION OR ACCESS TO, OR TREATMENT OF EMPLOYMENT IN, ANY OF ITS EDUCATIONAL PROGRAMS OR ACTIVITIES, INCLUDING SCHOLARSHIPS, LOANS, AND ATHLETICS, ON THE BASIS OF RACE, COLOR, SEX, MARITAL OR PARENTAL STATUS, AGE, SEXUAL ORIENTATION, NATIONAL OR ETHNIC ORIGIN, RELIGION, HANDICAP, DISABILITY, OR OTHER LEGALLY PROTECTED CLASSIFICATIONS. THE COLLEGE COMPLIES WITH THE TITLE VI OF THE CIVIL RIGHTS ACT, TITLE IX OF THE EDUCATION AMENDMENTS, SECTION 504 OF THE REHABILITATION ACT AND REVENUE PROCEDURE 75-50 PROHIBITING SUCH DISCRIMINATION. ANYONE BELIEVING THAT HE OR SHE HAD EXPERIENCED ADVERSE TREATMENT MAY REGISTER A COMPLAINT WITH THE PRESIDENT'S ASSISTANT FOR EQUAL OPPORTUNITY, ROOM 306, RAUCH ADMINISTRATION CENTER, BENTLEY UNIVERSITY, 175 FOREST STREET, WALTHAM, MA 02452, TELEPHONE 781-891-2907. THE UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED IN STUDENT REGISTRATION MATERIALS, THE UNIVERSITY'S COURSE CATALOG, AND FOR THE RECRUITMENT PROCESS ON THE HUMAN RESOURCE WEBSITE. FINANCIAL AID AND GOVERNMENTAL ASSISTANCE SCHEDULE E, LINE 6A THE UNIVERSITY PROVIDES FINANCIAL AID FUNDS TO THE STUDENTS BASED ON GENERALLY ACCEPTED UNIFORM NON-DISCRIMINATORY METHODOLOGY. true East Asia and the Pacific 0 0 Program Services STUDY ABROAD 1246538 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 3094167 Middle East and North Africa 0 0 Program Services STUDY ABROAD 35905 South America 0 0 Program Services STUDY ABROAD 202575 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 149299 Central America and the Caribbean 0 0 Investments 24974799 0 0 0 0 29703283 29703283 ACCOUNT CREDIT East Asia and the Pacific 40 548100 ACCT CREDIT ACCOUNT CREDIT Europe (Including Iceland and Greenland) 130 1615798 ACCT CREDIT ACCOUNT CREDIT Sub-Saharan Africa 6 93804 ACCT CREDIT ACCOUNT CREDIT Middle East and North Africa 2 35905 ACCT CREDIT ACCOUNT CREDIT South America 3 38535 ACCT CREDIT true false true true true true MONITOR THE USE OF GRANT FUNDS OUTSIDE THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS WHO WISH TO STUDY ABROAD. THESE AMOUNTS ARE APPLIED TO EACH STUDENT'S ACCOUNT AND ARE USED TO OFFSET THE COST OF THE PROGRAM. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. BASIS OF ACCOUNTING PART I, LINE 3, COLUMN F THE BASIS OF ACCOUNTING ON THE FINANCIAL STATEMENTS IS ACCRUAL. X X X X X X true MARTS LUNDY 1200 WALL ST W LYND 1200 WALL STREET WEST LYNDHURST NJ 07071 ANALYSIS & SURVEY false 0 21256 -21256 0 21256 -21256 MA true SCHOLARSHIP ASSISTANCE 2851 65660858 MONITOR THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. MANY SCHOLARSHIPS ARE BASED ON CRITERIA SUCH AS ACADEMIC STRENGTH, ATHLETIC ABILITY, LEADERSHIP, OR COMMUNITY SERVICE. NON-NEED-BASED SCHOLARSHIP FUNDING IS AWARDED THROUGH THE ADMISSIONS PROCESS AND USUALLY HAS A GRADE POINT AVERAGE (GPA) OR OTHER REQUIREMENT FOR RENEWAL IN SUBSEQUENT YEARS. TYPES OF MERIT SCHOLARSHIPS INCLUDE THE TRUSTEE SCHOLARSHIP, THE PRESIDENT'S SCHOLARSHIP AND THE INTERNATIONAL SCHOLARSHIP. THE UNIVERSITY ALSO OFFERS GRANT FUNDS THAT ARE AWARDED BASED ON FINANCIAL NEED AND DO NOT HAVE TO BE REPAID. THE OFFICE OF FINANCIAL ASSISTANCE DETERMINES THE TOTAL AMOUNT OF A STUDENT'S NEED-BASED GRANT FUNDING ACCORDING TO FEDERAL AND INSTITUTIONAL FORMULAS. TYPES OF NEED BASED GRANTS INCLUDE BENTLEY SCHOLARSHIPS, AS WELL AS FEDERAL AND STATE SOURCES. ALL SCHOLARSHIP AMOUNTS ARE AUTOMATICALLY CREDITED TO THE INDIVIDUAL'S STUDENT ACCOUNT. X X X true true X X X X X false false false false false false false true false GLORIA C LARSON 475308 0 105000 0 4708 0 25000 0 69254 0 679270 0 0 0 WILLIAM TORREY 370398 0 15000 0 0 0 25000 0 235 0 410633 0 0 0 MICHAEL J PAGE 341688 0 20000 0 0 0 25000 0 8426 0 395114 0 0 0 TRACI A LOGAN 328209 0 15000 0 55000 0 25000 0 10926 0 434135 0 0 0 JOANN C MCKENNA 273303 0 20000 0 0 0 25000 0 5963 0 324266 0 0 0 JUDITH A MALONE 190348 0 12500 0 0 0 19959 0 26158 0 248965 0 0 0 JAMES E HUNTON 322895 0 0 0 71544 0 25000 0 23054 0 442493 0 0 0 ROBERT D GALLIERS 319057 0 0 0 70744 0 25000 0 13471 0 428272 0 0 0 M LYNNE MARKUS 278594 0 0 0 101504 0 25000 0 8471 0 413569 0 0 0 JEAN C BEDARD 281048 0 0 0 63229 0 25000 0 16291 0 385568 0 0 0 PAUL CLEMENTE 295329 0 25000 0 0 0 25000 0 20269 0 365598 0 0 0 KATHLEEN L YORKIS 210161 0 0 0 0 0 21525 0 23173 0 254859 0 0 0 BENEFITS PART II, LINE 1 THE UNIVERSITY PROVIDES ON CAMPUS HOUSING FOR ITS PRESIDENT FOR THE CONVENIENCE OF THE UNIVERSITY; ESTIMATED MONTHLY RENTAL CHARGE IS $4,000 OR $48,000 ANNUALLY, AND IS INCLUDED AS A NONTAXBLE BENEFIT IN COLUMN D. IN ADDITION, ESTIMATED PERSONAL COST RELATED TO MAID SERVICE FOR THE HOUSE IS $4,596 WHICH IS INCLUDED AS TAXABLE INCOME. GLORIA LARSON'S BONUS PART I, LINE 7 & PART II, COLUMN B(II) PURSUANT TO HER EMPLOYMENT CONTRACT, THE PRESIDENT SHALL BE CONSIDERED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, FOR A BONUS WITH A TARGET OF 15%, AND A MAXIMUM OF 30% OF THE BASE SALARY. THE AMOUNT OF THE BONUS SHALL BE DETERMINED BY THE COMPENSATION COMMITTEE BASED ON ITS ASSESSMENT OF THE PRESIDENT'S PERFORMANCE AND THAT OF BENTLEY UNIVERSITY AGAINST APPROPRIATE GOALS ESTABLISHED ANNUALLY BY THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE, IN ITS SOLE DISCRETION, MAY DETERMINE NOT TO AWARD A BONUS FOR ANY GIVEN YEAR. M. LYNNE MARKUS RECEIVED AN AWARD THAT HIGHLIGHTS A LIFETIME OF SCHOLARLY WORK DEMONSTRATED BY A DISTINGUISHED FACULTY MEMBER. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). TORREY, PAGE, LOGAN, MCKENNA, MALONE, AND CLEMENTE RECEIVED BONUS PAYMENTS. THE BONUSES ARE AWARDED BASED ON RECOMMENDATIONS MADE BY THE PRESIDENT AND ARE APPROVED BY THE COMPENSATION AND BENEFITS COMMITTEE WITH THE RATIONALE BASED UPON HER ASSESSMENT OF THE INDIVIDUAL'S PERFORMANCE. PART II, COLUMN B(III) DURING THE REPORTING PERIOD, PROFESSORS GALLIERS, HUNTON, MARKUS, AND BEDARD ALL PARTICIPATED IN ADDITIONAL FACULTY ROLES. THE AMOUNTS IN THIS COLUMN ARE NOT BONUS OR INCENTIVE COMPENSATION, BUT RATHER ADDITIONAL COMPENSATION FOR ADDITIONAL SERVICES PERFORMED. A MA DEVELOPMENT FINANCE AGENCY 043431814 2008-05-15 60000000 $56.1M REFUNDING PRIOR TO DEBT; $3 false false false B MA DEVELOPMENT FINANCE AGENCY 043431814 57583R2N4 2010-09-16 41816878 REFUNDING false false false A 7714000 0 60000000 0 0 0 112550 0 0 3787450 56100000 0 2008 true false true true B 6141878 0 41816878 0 0 0 454697 0 0 0 41362181 0 2010 true false true true A false true true true false 0.01160 0.00000 0.01160 false false false true B 0.00000 0.00000 0.00000 A false true true false 0 false 0 false true B false true false false 0 false 0 false true A true B true NA N/A 12710 SCHOLARSHIP SCHOLARSHIP BCBS OF MASSACHUSETTS GLORIA LARSON - PRESIDENT 160292 SEE PART V false BUSINESS TRANSACTIONS WITH INTERESTED PERSONS PART IV LINE 1 GLORIA LARSON IS A MEMBER OF THE BOARD OF DIRECTORS OF BLUE CROSS BLUE SHIELD, AN INSURANCE COMPANY THE UNIVERSITY USES TO OFFER HEALTH COVERAGE FOR ITS RETIRED EMPLOYEES ONLY. THEIR APPOINTMENT IS REVIEWED ANNUALLY FOLLOWING RECOMMENDATION OF PRODUCT OFFERING AND PRICING BY AN INDEPENDENT BROKER. MS. LARSON HAS NEVER BEEN INVOLVED IN THE REVIEW OR DECISION PROCESS. X 18 291859 FAIR MARKET VALUE X EQUIPMENT 2 3845 FAIR MARKET VALUE X MISC. EVENTS/TICKETS 2 2417 FAIR MARKET VALUE 0 false true false PART I, COLUMN B THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 UNDERGRADUATE PROGRAM: A BENTLEY EDUCATION IS AN UNPARALLELED FUSION OF BUSINESS AND THE ARTS AND SCIENCES. BENTLEY'S EXPANSIVE CURRICULUM, FOCUSING ON BUSINESS, TECHNOLOGY, AND THE LIBERAL ARTS, PROVIDES STUDENTS WITH NUMEROUS OPTIONS, INCLUDING A LIBERAL STUDIES MAJOR, FOR SHAPING AN ACADEMIC PROGRAM THAT FITS THEIR SKILLS, INTERESTS, AND CAREER GOALS. THE MAJORITY OF STUDENTS AT BENTLEY MAJOR IN BUSINESS, WHILE SIMULTANEOUSLY ENROLLED IN A BASIC CORE OF LIBERAL ARTS COURSES. BENTLEY ALSO OFFERS SEVERAL OUTSTANDING MAJORS IN ARTS AND SCIENCES. IN ADDITION, NEARLY 800 OF BENTLEY'S 4,000 UNDERGRADUATES DOUBLE-MAJOR IN BUSINESS AND BENTLEY'S INNOVATIVE LIBERAL STUDIES MAJOR (LSM). BENTLEY IS ONE OF THE FEW INSTITUTIONS WHERE A DOUBLE-MAJOR IN BUSINESS AND ARTS AND SCIENCES IS DESIGNED TO BE COMPLETED IN FOUR YEARS. THE UNDERGRADUATE PROGRAM AT BENTLEY OFFERS A VARIETY OF ACADEMIC STUDIES. STUDENTS MAY CHOOSE A MAJOR THAT ENABLES THEM TO DEVELOP EXPERTISE IN A SPECIFIC AREA OF BUSINESS OR PURSUE AN ARTS AND SCIENCES DEGREE, INCLUDING MAJORS IN HISTORY, GLOBAL STUDIES, LIBERAL ARTS, MATHEMATICAL SCIENCES, MEDIA AND CULTURE, OR PHILOSOPHY. IN EITHER CASE, STUDIES ARE CHARACTERIZED BY A BALANCE OF BUSINESS AND GENERAL EDUCATION SELECTIONS -- THE BEST COMBINATION FOR PREPARING TOMORROW'S PROFESSIONALS. THE BUSINESS SKILLS THAT STUDENTS DEVELOP ARE ENHANCED BY A CURRICULUM THAT INTEGRATES THE USE OF COMPUTERS AS TOOLS OF ANALYSIS, DECISION-MAKING AND MANAGEMENT. MOREOVER, STUDENTS GAIN FROM THEIR INTERACTION WITH EXPERIENCED FACULTY WHO ARE BUSINESS PROFESSIONALS AND SCHOLARS IN THEIR FIELDS. EIGHTY-THREE PERCENT HOLD DOCTORAL DEGREES. BENTLEY PROVIDES FACULTY WITH THE RESOURCES NECESSARY FOR QUALITY RESEARCH AND TEACHING. GRADUATE PROGRAM: TODAY'S BUSINESS WORLD THRIVES ON INFORMATION AND INNOVATION -- BOTH OF WHICH DRIVE MBA AND MS PROGRAMS AT THE GRADUATE SCHOOL OF BUSINESS AT BENTLEY UNIVERSITY, A LEADER AMONG BUSINESS GRADUATE SCHOOLS IN BOSTON. THE UNIVERSITY COMBINES DISTINCTIVE PROGRAMS, RESOURCES AND EXPERIENCES TO MAXIMIZE RETURN ON INVESTMENT IN PURSUING A BUSINESS GRADUATE PROGRAM IN BOSTON. THE THREE MBA PROGRAMS AND SEVEN MS PROGRAMS ARE DESIGNED TO EQUIP STUDENTS WITH BROAD-BASED SKILLS IN COMMUNICATION, LEADERSHIP AND OTHER CRUCIAL BUSINESS FUNCTIONS, WHILE ALSO ALLOWING ONE TO DEVELOP SPECIALIZED EXPERTISE IN A FIELD OF INTEREST. INDUSTRY LEADERS PLAY A KEY ROLE IN DEVELOPING MASTERS PROGRAMS IN BOSTON THAT DELIVER THE SPECIFIC SKILLS REQUIRED FOR SUCCESS IN A GIVEN FIELD. BENTLEY'S PROFESSORS ARE ACTIVE SCHOLARS AND RESEARCHERS, WHOSE OWN WORK IN BUSINESS ENRICHES COURSES AND CLASS DISCUSSIONS. STUDIES WILL BE ENHANCED THROUGH CLOSE COLLABORATION WITH CLASSMATES, WHO COME FROM ACROSS THE WORLD AND REPRESENT A CROSS-SECTION OF FIELDS AND INDUSTRIES. THIS EXPOSURE TO DIVERSE PERSPECTIVES PROVIDES ONE WITH FRESH INSIGHTS INTO BUSINESS ISSUES. TODAY'S GRADUATE STUDENTS ALSO WILL BENEFIT FROM A COLLECTION OF HIGH-TECH LEARNING LABS, WHERE EXPERIENCE USING THE LATEST SOFTWARE AND HARDWARE WILL HELP A STUDENT HIT THE GROUND RUNNING IN THE PROFESSIONAL ENVIRONMENT. THIS ARRAY OF HIGH-TECH RESOURCES, UNIQUE AMONG BUSINESS GRADUATE PROGRAMS IN BOSTON, ENSURES THAT THE DEDICATED STUDENT WILL BE ABLE TO FORGE IMMEDIATE CONNECTIONS BETWEEN YOUR CURRICULUM AND REAL-WORLD BUSINESS NEEDS AND DEMANDS. DOCTORAL PROGRAM: THE TWO BENTLEY PHD PROGRAMS (IN ACCOUNTANCY AND BUSINESS) ARE BOTH THEMATICALLY FOCUSED AROUND BUSINESS, SOCIETY AND TECHNOLOGY. THE BUSINESS-FOCUSED PHD PROGRAMS ARE ENHANCED BY CONTRIBUTIONS FROM FACULTY IN ARTS AND SCIENCES, WHO WORK ALONGSIDE FACULTY IN THE BUSINESS DISCIPLINES. THIS ENSURES THAT THE STUDENT WILL RECEIVE A BROAD LIBERAL EDUCATION, AS WELL AS ACQUIRING DEPTH IN A PARTICULAR FIELD OF STUDY. THE UNIVERSITY BELIEVES A BROAD YET DEEP EDUCATION BETTER EQUIPS ONE FOR A CAREER IN EITHER ACADEMIA OR BUSINESS. EDUCATING STUDENTS TO BE EFFECTIVE AND CREATIVE LEADERS IN A COMPLEX GLOBAL ENVIRONMENT IS CENTRAL TO BENTLEY'S MISSION. FACULTY EXCELS AT TEACHING, THE DEVELOPMENT OF INNOVATIVE CURRICULUM, AND THE DISSEMINATION OF RESEARCH AND KNOWLEDGE. BENTLEY EMPHASIZES THE IMPORTANCE OF TEACHING AND PROVIDES SUPPORT FOR PROMOTING AND RECOGNIZING FACULTY EXCELLENCE IN THE CLASSROOM. UNDERGRADUATE AND GRADUATE BUSINESS PROGRAMS AT BENTLEY UNIVERSITY ARE ACCREDITED BY THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS (AACSB). THE ACCREDITATION INDICATES THAT BENTLEY UNIVERSITY MEETS OR EXCEEDS ESTABLISHED STANDARDS, AS DETERMINED BY PERIODIC AACSB PEER GROUP REVIEW. THE AACSB QUALITY STANDARDS RELATE TO CURRICULUM, FACULTY RESOURCES, ADMISSIONS, DEGREE REQUIREMENTS, LIBRARY AND COMPUTER FACILITIES, FINANCIAL RESOURCES AND INTELLECTUAL CLIMATE. BENTLEY UNIVERSITY IS ALSO ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES INC. (NEASC), INDICATING THAT THE SCHOOL MEETS OR EXCEEDS ESTABLISHED STANDARDS, AS DETERMINED BY A PERIODIC PEER GROUP REVIEW. AS AN ACCREDITED UNIVERSITY, BENTLEY IS JUDGED TO HAVE THE NECESSARY RESOURCES AND INSTITUTIONAL INTEGRITY TO ACHIEVE ITS STATED PURPOSE THROUGH ITS EDUCATIONAL PROGRAMS. NEASC ACCREDITATION APPLIES TO BENTLEY AS A WHOLE, AND PROVIDES A REASONABLE ASSURANCE ABOUT THE QUALITY OF OPPORTUNITIES AVAILABLE TO ITS STUDENTS. AS PART OF A REGULAR TEN-YEAR CYCLE OF REVIEW BY NEASC'S COMMISSION ON INSTITUTIONS OF HIGHER EDUCATION (CIHE), BENTLEY HAS UNDERGONE A COMPREHENSIVE SELF-STUDY PROCESS WHICH CULMINATED IN A 10 YEAR ACCREDITATION IN JANUARY 2014. THIS WAS A RESULT OF A VISIT TO CAMPUS BY A TEAM OF PEER EVALUATORS IN MARCH 2013. BENTLEY UNIVERSITY IS ONE OF ONLY TWO BUSINESS SCHOOLS IN THE U.S. AND 130 BUSINESS SCHOOLS WORLDWIDE TO EARN EUROPEAN QUALITY IMPROVEMENT SYSTEM (EQUIS) ACCREDITATION. EQUIS IS THE LEADING INTERNATIONAL SYSTEM OF QUALITY ASSESSMENT, IMPROVEMENT, AND ACCREDITATION OF HIGHER EDUCATION INSTITUTIONS IN MANAGEMENT AND BUSINESS ADMINISTRATION. INSTITUTIONS ACCREDITED BY EQUIS MUST DEMONSTRATE NOT ONLY HIGH GENERAL QUALITY IN ALL DIMENSIONS OF THEIR ACTIVITIES, BUT ALSO A HIGH DEGREE OF INTERNATIONALIZATION. WITH COMPANIES RECRUITING WORLDWIDE, MORE STUDENTS CHOOSING TO OBTAIN THEIR EDUCATION OUTSIDE THEIR HOME COUNTRIES, AND SCHOOLS BUILDING ALLIANCES ACROSS BORDERS AND CONTINENTS, THERE IS A RAPIDLY GROWING NEED FOR EACH GROUP TO BE ABLE TO IDENTIFY THOSE INSTITUTIONS IN ANY OTHER COUNTRY THAT DELIVER HIGH QUALITY EDUCATION IN INTERNATIONAL MANAGEMENT, ACCORDING TO EQUIS. PROGRAM SERVICES FORM 990, PART III, LINES 4A-4D LINE 4A, INSTRUCTION (CONTINUED): TO ADVANCE THE FRONTIERS OF KNOWLEDGE, FOSTER CURRICULAR INNOVATION, ENHANCE TEACHING, AND INFORM AND IMPROVE BUSINESS PRACTICE, BENTLEY PROFESSORS PURSUE A RIGOROUS AGENDA OF SCHOLARSHIP AND APPLIED RESEARCH. MUCH OF THIS WORK IS TRANSDISCIPLINARY WITH FACULTY FROM THE BUSINESS DISCIPLINES AND THE ARTS AND SCIENCES COLLABORATING WITH ONE ANOTHER AS WELL AS WITH OUTSIDE SCHOLARS AND BUSINESS LEADERS. ACCORDINGLY, THE BENTLEY CLASSROOM BECOMES A LABORATORY FOR LEARNING WHEN HIGHLY RESPECTED SCHOLARS INTERACT WITH STIMULATED STUDENTS. LINE 4B, AUXILIARY ENTERPRISES (CONTINUED): OTHER AMENITIES INCLUDE ON-SITE LAUNDRY FACILITIES, AIR CONDITIONING, VENDING MACHINES, AND IN SOME BUILDINGS, GAME ROOMS AND WORKOUT FACILITIES. A RESIDENT ASSISTANT LIVES ON EACH FLOOR TO ASSIST STUDENTS. AT BENTLEY, DINING SERVICES OFFERS A RANGE OF DELICIOUS AND CONVENIENT DINING OPTIONS. LINE 4C, STUDENT SERVICES (CONTINUED): SAFETY AND CIVILITY ARE ACHIEVED BY THE JUDICIOUS APPLICATION OF COLLEGE RULES AND POLICIES TO PROMOTE PERSONAL ACCOUNTABILITY AND RESPONSIBILITY. PERSONAL GROWTH AND INCLUSIVENESS ARE SUPPORTED THROUGH STUDENT-CENTERED PROGRAMMING EFFORTS, HIGHLIGHTING THE IMPORTANCE OF CELEBRATING DIFFERENCES, BUILDING HEALTHY RELATIONSHIPS AND CREATING LEADERSHIP OPPORTUNITIES. INTELLECTUAL GROWTH IS ALSO STIMULATED BY CREATING RESIDENTIAL ENVIRONMENTS THAT ALLOW STUDENTS TO PURSUE THE ACADEMIC ENDEAVORS WHICH ARE NECESSARY FOR THE SUCCESSFUL COMPLETION OF A BENTLEY EDUCATION. THE RESIDENTIAL COMMUNITY OFFERS THE DIVERSE ARRAY OF STUDENTS AT BENTLEY OPPORTUNITIES FOR PERSONAL GROWTH AND DEVELOPMENT TO COMPLEMENT THEIR ACADEMIC AND PROFESSIONAL ACHIEVEMENTS. THERE ARE MORE THAN 100 UNDERGRADUATE STUDENT ORGANIZATIONS THAT OFFER OPPORTUNITIES FOR COLLABORATION AND NETWORKING, CHANCES TO CREATE, PLAN AND EXECUTE PROGRAMMING AND EVENTS, CHALLENGE AND EXPAND CURRENT VIEWS BY MEETING NEW PEOPLE AND HEARING NEW IDEAS, AND TO GAIN LEADERSHIP EXPERIENCES. BY ACHIEVING THE GOALS STATED ABOVE, THE BENTLEY RESIDENTIAL CENTER SEEKS TO COMPLEMENT THE ACADEMIC MISSION OF THE UNIVERSITY AND PREPARE STUDENTS TO BECOME VALUABLE AND CONTRIBUTING MEMBERS OF THE GLOBAL COMMUNITY. LINE 4D, OTHER PROGRAM SERVICES: BENTLEY'S BUSINESS-ORIENTED HIGH-TECH CENTERS AND LEARNING FACILITIES GIVE STUDENTS HANDS-ON EXPERIENCE WITH THE LATEST HARDWARE AND SOFTWARE IN FINANCE, INFORMATION SYSTEMS, MARKETING, ACCOUNTING AND LANGUAGES. MOST CLASSES INCORPORATE PROJECTS AND ASSIGNMENTS THAT MAKE USE OF THE SPECIALIZED SOFTWARE AVAILABLE IN THESE FACILITIES, ALLOWING STUDENTS TO APPLY CONCEPTS LEARNED IN CLASS. THE CENTERS AND LABS - ALL AMONG THE FIRST OF THEIR KIND IN HIGHER EDUCATION - FEATURE THE SAME HIGH-END HARDWARE AND SOFTWARE THAT BUSINESSES USE. OUR ACADEMIC CENTERS ENRICH STUDENTS WITH RESOURCES AND THOUGHT LEADERSHIP IN ARTS, ETHICS, INTERNATIONAL EDUCATION, AND SERVICE OPPORTUNITIES. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 A FULL AND COMPLETE COPY OF THE FORM 990 AND ALL ITS ACCOMPANYING SCHEDULES WAS SENT ELECTRONICALLY TO THE UNIVERSITY'S TRUSTEE AUDIT COMMITTEE TIMELY FOR ITS REVIEW. UPON COMPLETION OF THAT REVIEW, THE COMPLETE FORM 990 AS FILED WITH THE INTERNAL REVENUE SERVICE WAS MADE AVAILABLE TO THE FULL BOARD IN EARLY MAY PRIOR TO FILING. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES AND SENIOR MANAGEMENT MAY, FROM TIME TO TIME, BE ASSOCIATED, EITHER DIRECTLY OR INDIRECTLY, WITH COMPANIES DOING BUSINESS WITH THE UNIVERSITY. THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES MAY PARTICIPATE IN ANY DECISION IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. EACH TRUSTEE IS REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AS WELL AS DISCLOSE ANY POTENTIAL RELATED-PARTY TRANSACTIONS TO THE AUDIT COMMITTEE. WHEN SUCH A RELATIONSHIP EXISTS, THE UNIVERSITY REQUIRES THAT SUCH TRANSACTIONS BE CONDUCTED AT ARMS' LENGTH, WITH TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF THE UNIVERSITY. FOR SENIOR MANAGEMENT, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN, OR GOVERNANCE OF EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH ENTITIES DOING BUSINESS WITH THE UNIVERSITY. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE THE ACTUAL OR PERCEIVED CONFLICT IN THE BEST INTEREST OF THE UNIVERSITY. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 SALARY AND BENEFIT COMPENSATION ARRANGEMENTS FOR THE PRESIDENT AND ALL OFFICERS ARE REVIEWED AND APPROVED IN ADVANCE OF ANY PAYMENT BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES WHO IS INDEPENDENT OF MANAGEMENT AND FREE OF ANY CONFLICTS OF INTEREST THAT WOULD INTERFERE WITH THEIR EXERCISE OF INDEPENDENT JUDGMENT. THIS INCLUDES REVIEW OF OTHER NON-PROFIT ORGANIZATIONS FORM 990, GENERAL SALARY SURVEYS AND STUDIES, AND REQUIRES APPROVAL BY THE FULL BOARD. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S PRINCIPAL GOVERNING DOCUMENTS, INCLUDING THE ARTICLES OF INCORPORATION AND BY-LAWS, ARE FILED WITH THE MASSACHUSETTS SECRETARY OF STATE AND THEREFORE ARE AVAILABLE TO THE PUBLIC. THE UNIVERSITY'S FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE POSTED ON THE UNIVERSITY'S WEBSITE FOR PUBLIC VIEWING. THE UNIVERSITY'S FORM 990 AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE WEBSITE OF THE MASSACHUSETTS ATTORNEY GENERAL. OTHER CHANGES IN NET ASSETS OR FUND BALANCES 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $11,353,000 CHANGE IN VALUE OF SPLIT INTEREST TRUST $ (238,000) CHANGE IN POST-RETIREMENT RETIREMENT COSTS $ (106,000) TOTAL $11,009,000 CHARITABLE REMAINDER ANNUITY TRUST (6) CRAT MA BENTLEY TRUST true CHARITABLE REMAINDER UNITRUST (6) CRUT MA BENTLEY TRUST true true false false false false true false false false false false false false false false false false true true CRAT A 4431 ACCRUAL CRUT A 93212 ACCRUAL CRAT R 173374 ACCRUAL CRUT R 145569 ACCRUAL CRUTCRAT S 126032 ACCRUAL