2013-10-11T12:24:49-05:00 2013-06-30 CAIN BOURRET JARRY & ASSOCIATES LLC 1595 LAKEVIEW AVENUE DRACUT MA 01826 990 2012-07-01 042052723 INDEPENDENT UNIVERSITY ALUMNI ASSOCIATION AT LOWELL INDE 9784546335 PO BOX 242 LOWELL MA 01853 RICHARD H DONALDSON 9784546335 2013-10-09 true STEVEN R BOURRET 9789571421 2013-10-11 2012 2015-11-30 17:44:51Z DRUCILLA M FITZGERALD 29 TYLER STREET SALEM NH 03079 441416 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. 17 17 1 15 0 23688 21667 0 267020 221997 57615 64197 348323 307861 92070 109050 0 63464 54066 0 1629 89416 76379 244950 239495 103373 68366 5948868 6730820 13565 11909 5935303 6718911 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 109050 12500 195048 PROVIDING SCHOLARSHIPS TO INDIVIDUALS ATTENDING THE UNIVERSITY OF MASSACHUSETTS LOWELL WHO OTHERWISE MIGHT NOT HAVE THE FINANCIAL MEANS TO ATTEND COLLEGE. APPROXIMATELY 106 SCHOLARSHIPS AND AWARDS WERE DISBURSED WHILE ALSO PROVIDING 5 GRANTS TO THE UNIVERSITY'S COLLEGE OF MANAGEMENT, ENGINEERING, MUSIC AND PSYCHOLOGY DEPARTMENTS. 111548 332872 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. 220598 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 2 0 true 1 true false false false false false false false false false false false false X 17 17 false false false false false false false true true false false false false false false false true false MA X MARIANTHE DABEKIS 9784546335 ONE UNIVERSITY AVENUE LOWELL MA 01854 X DRUCILLA M FITZGERALD 2.00 X 0 0 0 MARY ANN KITROSSER 2.00 X 0 0 0 THOMAS J VAUGHN 2.00 X 0 0 0 RICHARD DONALDSON 2.00 X 0 0 0 MICHAEL ALPERT 1.00 X 0 0 0 GEORGE L DUGGAN 1.00 X 0 0 0 JOHN T O'DONNELL 1.00 X 0 0 0 WALTER F DAWSON 1.00 X 0 0 0 RICHARD J RUSSELL 1.00 X 0 0 0 ARTHUR P MILLER 1.00 X 0 0 0 THOMAS O'DONNELL 1.00 X 0 0 0 KEVIN D SHANAHAN 1.00 X 0 0 0 JOSEPH F DIXON 1.00 X 0 0 0 JAMES L SWARTZ 1.00 X 0 0 0 PATRICIA GARDNER 1.00 X 0 0 0 MARY GAIL JAGGERS 1.00 X 0 0 0 BERNARD SHAPIRO 1.00 X 0 0 0 RAYMOND DUNN 1.00 X 0 0 0 JOHN M SHEEHAN 1.00 X 0 0 0 false false false 10979 10688 21667 195047 195047 160505 133555 26950 26950 26950 ALUMNI GROUP INS. ROYALTIES 63210 63210 MISCELLANEOUS INCOME 987 987 64197 307861 27937 258257 12500 12500 96550 96550 39407 33102 5517 788 6020 5057 843 120 8029 6744 1124 161 610 512 85 13 10114 8496 1416 202 187 178 8 1 MANAGEMENT FEES - TRUST 40757 35051 5706 SCHOLARSHIP BANQUET 5618 5618 OFFICE SUPPLIES AND EXPEN 4897 4113 686 98 INSURANCE 4208 3535 589 84 10598 9142 1294 162 239495 220598 17268 1629 30046 95508 320346 206675 1187 1224 29231 28369 1049 862 5595616 6425927 624 624 5948868 6730820 12941 11285 624 624 13565 11909 X 1382588 1587966 121990 138900 4430725 4992045 5935303 6718911 5948868 6730820 68366 715242 X true X false true false X 33936 54049 24501 23688 21667 157841 33936 54049 24501 23688 21667 157841 157841 163822 150581 161036 174282 195047 844768 34374 77612 51515 57390 63210 284101 1286710 987 0.12270 0.12930 X 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. 5916587 6170 937243 -109050 -117484 6633466 5700313 410842 -92070 -91818 -10680 5916587 4221082 14815 1589506 -90184 -34906 5700313 3749955 9300 604105 -65800 -76478 4221082 5286221 25870 -1363300 -102750 -96086 3749955 false false 29231 28369 862 862 DUE TO OPERATING FUND 624 624 true UNIVERSITY OF MASSACHUSETTS-LOWELL COLLEGE OF MGMT & ENGINEERING DEPT ONE UNIVERSITY AVENUE LOWELL MA 01853 046002284 12500 DEPARTMENT SUPPORT COLLEGE TUITION ASSISTANC 106 96550 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS INSIDE THE UNITED STATES 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. ORGANIZATION'S MISSION 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. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 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. COMPENSATION PROCESS FOR OFFICERS 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. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION 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. OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 9 NET UNREALIZED GAINS ON INVESTMENT STOCK PORTFOLIO 715,242