2013-05-13T17:10:07-05:00 2012-06-30 990 2011-07-01 042121659 WORCESTER POLYTECHNIC INSTITUTE WORC 5088315577 100 INSTITUTE ROAD WORCESTER MA 016092280 JEFFREY SOLOMON 5088315000 2013-05-13 2011 2016-02-24 21:20:13Z JEFFREY SOLOMON 100 INSTITUTE ROAD WORCESTER MA 01609 243185539 0 X WPI.EDU X 1865 MA POST SECONDARY EDUCATION 32 27 3367 910 -27717 -133845 24301741 21507246 202098433 217347649 5279952 4330644 0 0 231680126 243185539 60864137 67228106 0 0 98354095 106549459 0 0 5156523 64674887 65613056 223893119 239390621 7787007 3794918 740959033 745923526 263980885 274385674 476978148 471537852 X WPI EDUCATES TALENTED MEN AND WOMEN IN ENGINEERING, SCIENCE, MANAGEMENT AND HUMANITIES IN PREPARATION FOR CAREERS OF PROFESSIONAL PRACTICE, CIVIC CONTRIBUTION, AND LEADERSHIP, FACILITATED BY ACTIVE LIFELONG LEARNING. THIS EDUCATIONAL PROCESS IS TRUE TO THE FOUNDERS' DIRECTIVE TO CREATE, TO DISCOVER, AND TO CONVEY KNOWLEDGE AT THE FRONTIERS OF ACADEMIC INQUIRY FOR THE BETTERMENT OF SOCIETY. KNOWLEDGE IS CREATED AND DISCOVERED IN THE SCHOLARLY ACTIVITIES OF FACULTY AND STUDENTS RANGING ACROSS EDUCATIONAL METHODOLOGY, PROFESSIONAL PRACTICE, AND BASIC RESEARCH. KNOWLEDGE IS CONVEYED THROUGH SCHOLARLY PUBLICATION AND INSTRUCTION. ADOPTED BY THE BOARD OF TRUSTEES, MAY 22, 1987. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML) 0 0 167094626 67228106 195525557 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING & MATHEMATICS TO APPROXIMATELY 3,950 UNDERGRADUATE AND 2,000 GRADUATE STUDENTS. IN ADDITION, STUDENT HOUSING AND BOARD (AUXILIARY SERVICES) IS PROVIDED FOR APPROXIMATELY 1,700 STUDENTS. DURING FISCAL YEAR 2012, WPI AWARDED 823 BACHELOR, 551 MASTER AND 34 PHD DEGREES. STUDENTS EMERGE FROM WPI'S UNIQUE EXPERIENCE READY TO TAKE ON SOME OF THE MOST DIFFICULT CHALLENGES IN SCIENCE AND TECHNOLOGY. MORE IMPORTANTLY, THEY UNDERSTAND HOW THEIR WORK CAN TRULY IMPACT SOCIETY AND IMPROVE OUR LIVES. 5481140 7015348 THE UNIVERSITY'S CORPORATE AND PROFESSIONAL EDUCATION DIVISION PROVIDES TAILOR-MADE PROGRAMS TO APPROXIMATELY 660, MAINLY AT CORPORATE CLIENT SITES, USING INDUSTRY EXPERTS AND DEDICATED PROGRAM SUPPORT STAFF. THIS PRACTICAL APPROACH ADDS VALUE BY PROVIDING CLIENTS WITH KNOWLEDGE AND SKILLS THAT CAN BE DIRECTLY APPLIED TO THEIR REAL-WORLD JOB CHALLENGES. ADDITIONALLY DURING FY 2012, 1,000 INDIVIDUALS PARTICIPATED IN ONE OR MORE PROFESSIONAL WORKSHOPS OR SHORT COURSES. 17510253 14706007 AT WPI, 107 FACULTY MEMBERS AND 265 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. FUNDING FOR THIS RESEARCH IS MAINLY FROM THE US GOVERNMENT (NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES) AS WELL AS FROM CORPORATIONS. RESEARCH AT WPI HAS A DECIDEDLY APPLIED FOCUS, WITH WORK FOCUSED ON PROBLEMS THAT ARE BOTH INTERESTING AND IMPORTANT. THE RESULT IS NEW KNOWLEDGE, NEW INNOVATIONS, AND TECHNOLOGICAL ADVANCES THAT ATTACK SOME OF THE MAJOR CHALLENGES OF OUR TIME. 190086019 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 0 0 1 5539 0 1 3367 1 1 1 0 0 0 0 0 0 0 0 0 X 32 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X CHARLENE BELLOWS 5088315577 100 INSTITUTE ROAD WORCESTER MA 01609 JENNIFER DAVIS CAREY 2.00 X 0 0 0 CURTIS R CARLSON 2.00 X 0 0 0 RICHARD F CONNOLLY JR 2.00 X 0 0 0 MICHAEL J DOLAN 2.00 X 0 0 0 DANIEL FARRAR 2.00 X 0 0 0 WARNER S FLETCHER 2.00 X 0 0 0 STEVEN C HALSTEDT 2.00 X 0 0 0 DAVID K HEEBNER 2.00 X 0 0 0 DEBORA JACKSON 2.00 X 0 0 0 STUART C KAZIN 2.00 X 0 0 0 FRANCESCA MALTESE 2.00 X 0 0 0 ROBERT R MARTIN 2.00 X 0 0 0 LINDA MCGOLDRICK 2.00 X 0 0 0 JOHN T MOLLEN 2.00 X 0 0 0 NEIL D MCDONOUGH 2.00 X 0 0 0 PHILIP R MORGAN 2.00 X 0 0 0 JUDITH NITSCH 2.00 X 0 0 0 GEORGE R OLIVER 2.00 X 0 0 0 KAREN TEGAN PADIR 2.00 X 0 0 0 DONALD K PETERSON 2.00 X 0 0 0 SCOTT W RAMSEY 2.00 X 0 0 0 STEPHEN E RUBIN 2.00 X 0 0 0 FREDERICK D RUCKER 2.00 X 0 0 0 PHILIP B RYAN 2.00 X 0 0 0 STEPHEN SPINELLI JR 2.00 X 0 0 0 JOAN M BOLDUC SZKUTAK 2.00 X 0 0 0 SOPHIE VANDEBROEK 2.00 X 0 0 0 RICHARD D WILLETT II 2.00 X 0 0 0 DOROTHEA C WONG 2.00 X 0 0 0 GLENN YEE 2.00 X 0 0 0 MICHAEL P ZARRILLI 2.00 X 0 0 0 DENNIS D BERKEY 40.00 X X 791209 0 98667 JEFFREY S SOLOMON 40.00 X 415312 0 101723 STEPHANIE PASHA 40.00 X 104313 0 16357 A TRACY HASSETT 40.00 X 213210 0 45966 CHARLENE M BELLOWS 40.00 X 100462 0 16201 STEPHEN P FLAVIN 40.00 X 339537 0 95088 ERIC OVERSTROM 40.00 X 358908 0 48463 KRISTIN R TICHENOR 40.00 X 291843 0 75413 DIRAN APELIAN 40.00 X 299575 0 39190 SELCUK GUCERI 40.00 X 358578 0 9268 FRANCIS HOY 40.00 X 265309 0 27861 KAREN KASHMANIAN OATES 40.00 X 321001 0 37893 MARK RICE 40.00 X 422638 0 43758 JOHN ORR 40.00 X 177789 0 39909 DEXTER BAILEY 40.00 X 128386 0 17296 4588070 0 713053 192 1 1 0 GILBANE BUILDING COMPANY 7 JACKSON WALKWAY PROVIDENCE RI 02903 CONSTRUCTION MGMT 21051045 CHARTWELLSCOMPASS GROUP 100 INSTITUTE ROAD WORCESTER MA 01609 FOOD SERVICE 6185060 CUTLER ASSOCIATES INC 43 HARVARD ST WORCESTER MA 01609 CONSTRUCTION MGMT 1485206 CARDINAL CONSTRUCTION INC 89 SHREWSBURY ST WORCESTER MA 01604 CONSTRUCTION MGMT 1304450 INTEGRATION PARTNERS CORPORATION 24 HARTWELL AVENUE LEXINGTON MA 02421 NETWORK SERVICES 1103421 80 5960550 15546696 5933860 21507246 TUITION AND FEES 611600 176528363 176528363 AUXILIARY OPERATIONS 611600 21398658 21398658 SPONSORED RESEARCH CON 611600 14706007 14706007 OTHER EDUCATIONAL OPER 713940 2538494 2437757 100737 OTHER OPERATING SOURCE 611600 2176127 2176127 217347649 4328137 -128454 4456591 2507 2507 243185539 217246912 -27717 4459098 923340 923340 66304766 66304766 3518294 590319 2274771 653204 82268507 64971955 14545445 2751107 6091330 4706384 1176924 208022 9542048 5720848 3496060 325140 5129280 3963070 991043 175167 619714 3550 616164 222985 222985 270677 270677 314000 314000 9226937 7090268 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-4035327 -5199887 -9235214 -5440296 165570538 -4035327 -73579674 -77615001 243185539 0 243185539 171009469 -68381152 -68381152 239390621 0 239390621 PART III, LINE 1A: DUE TO THE IMMATERIALITY OF WPI'S COLLECTIONS OF ART OR HISTORICAL TREASURES, THESE ASSETS ARE NOT DISCLOSED IN THE FINANCIAL STATEMENTS. PART III, LINE 4: WPI HOLDS A CHARLES DICKENS COLLECTION, A BERNARD BRENNER SCULPTURE COLLECTION, A RARE BOOK AND MANUSCRIPT COLLECTION, AS WELL AS OTHER WORKS OF ART. THESE PIECES ARE USED BY THE FACULTY TO FURTHER THEIR RESEARCH AND CURRICULUM. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS ARE TO SUPPORT THE PROGRAMS OF THE UNIVERSITY, INCLUDING SCHOLARSHIPS, FACULTY TEACHING AND RESEARCH, LIBRARY RESOURCES, MAINTENANCE, ETC. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE UNIVERSITY HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, UPON THE UNIVERSITY'S CONSOLIDATED STATEMENTS OF FINANCIAL POSITION, OR THE RELATED CONSOLIDATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET UNREALIZED GAIN ON BENEFICIAL INTERESTS 1,211,630. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -441,996. NET UNREALIZED LOSS ON INTEREST RATE SWAP -5,968,156. OTHER ADJUSTMENT -1,365. TOTAL TO SCHEDULE D, PART XI, LINE 8: -5,199,887. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED GAIN ON BENEFICIAL INTERESTS 1,211,630. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -441,996. NET UNREALIZED AND REALIZED LOSS ON INTEREST RATE AGREEMENTS -8,044,542. SCHOLARSHIPS -66,304,766. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -66,304,766. NET REALIZED LOSS ON INTEREST RATE SWAP -2,076,386. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONALLY AND MAKES ITS RACIALLY NON-DISCRIMINATORY POLICY KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A STATEMENT OF ITS RACIALLY NON-DISCRIMINATORY POLICY IN ALL ITS BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE GOVERNMENT IN THE FORM OF 34A TITLE IV AID. 1 CENTRAL AMERICA & THE CARIBBEAN 2 1 PROGRAM SERVICES STUDENT PROJECTS IN PANAMA AND COSTA RICA FOCUS ON ENVIRONMENTAL AND CIVIL ENGINEERING, ENVIRONMENTAL CONSERVATION AND SUSTAINABLE DEVELOPMENT. 62000 EAST ASIA & THE PACIFIC 7 5 PROGRAM SERVICES STUDENT PROJECTS IN THAILAND, CHINA, JAPAN, NEW ZEALAND AND AUSTRALIA INVOLVE ADDRESSING PROBLEMS IMPORTANT TO THE LOCAL COMMUNITIES, INCLUDING SUSTAINABLE DEVELOPMENT, HEALTH & HUMAN SERVICES AND ENVIRONMENTAL ISSUES. 456000 EUROPE 7 1 PROGRAM SERVICES STUDENT PROJECTS IN DENMARK, FRANCE, HUNGARY, GERMANY, IRELAND, ITALY AND THE UNITED KINGDOM FOCUS ON ENVIRONMENTAL, SOCIOECONOMIC, ARTISTIC, CULTURAL AND TECHNICAL CONCERNS SPECIFIC TO THE REGION. 655000 MIDDLE EAST & NORTH AFRICA 1 0 PROGRAM SERVICES STUDENT PROJECTS IN MOROCCO INVOLVE THE STUDY OF ISLAMIC HISTORY AND CULTURAL AND SOCIETAL ISSUES. 30000 SUB-SAHARAN AFRICA 2 1 PROGRAM SERVICES IN SOUTH AFRICA AND NAMIBIA STUDENT PROJECTS FOCUS ON SUSTAINABLE DEVELOPMENT. 154000 CENTRAL AMERICA & THE CARIBBEAN 0 0 INVESTMENTS ENDOWMENT INVESTMENTS 29083000 EUROPE 0 0 INVESTMENTS ENDOWMENT INVESTMENTS 45193000 19 8 0 0 19 8 75633000 0 75633000 SCHOLARSHIP CENTRAL AMERICA & THE CARIBBEAN 29 5440 CASH SCHOLARSHIP EAST ASIA & THE PACIFIC 37 18720 CASH SCHOLARSHIP EUROPE 76 52450 CASH SCHOLARSHIP SUB-SAHARAN AFRICA 31 17700 CASH 1 0 1 1 1 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE A FINANCIAL AID APPLICATION AND COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA") FORM. TRAVEL SCHOLARSHIPS ARE PROVIDED FOR STUDENTS TO DEFRAY A PORTION OF THE EXTRA COST TO TRAVEL OFF-CAMPUS AND PARTICIPATE IN PROJECTS REQUIRED FOR GRADUATION. THE TRAVEL SCHOLARSHIP IS FUNDED DIRECTLY TO THE STUDENT'S ACCOUNTS RECEIVABLE BALANCE ONCE REGISTERED FOR A PROJECT. 1 UNIVERSITY OF WASHINGTON 1100 NE 45TH STREET SUITE 300 SEATTLE WA 98105 916001534 501( C )( 3) 262 RESEARCH TIME WISE MANAGEMENT SYSTEMS INC 10 CEDAR STREET SUITE 21 WOBURN MA 01801 042103731 30966 RESEARCH CLARK UNIVERSITY 950 MAIN ST WORCESTER MA 01606 042111203 501( C )( 3) 10000 RESEARCH RELIANT MEDICAL GROUP INC 640 LINCOLN ST WORCESTER MA 01605 042472266 501( C )( 3) 16354 RESEARCH UMASS MEMORIAL HEALTH CARE 55 LAKE AVENUE NORTH WORCESTER MA 01655 043167352 501( C )( 3) 7912 RESEARCH BROWN UNIVERSITY 75 WATERMAN ST PROVIDENCE RI 02906 050258809 501( C )( 3) 28232 RESEARCH UNIVERSITY OF MASS MEDICAL SCHOOL 55 LAKE AVE NORTH WORCESTER MA 01655 043167352 501( C )( 3) 2566 RESEARCH KENT STATE UNIVERSITY 800 E SUMMIT ST KENT OH 44240 316402079 501( C )( 3) 4100 RESEARCH RUTGERS UNIVERSITY 96 DAVIDSON ROAD PISCATAWAY NJ 08854 226001086 501( C )( 3) 21491 RESEARCH UNIVERSITY OF MASS MEDICAL SCHOOL 55 LAKE AVE NORTH WORCESTER MA 01655 043167352 501( C )( 3) 3223 RESEARCH UNIVERSITY OF MASSACHUSETTS 100 VENTURE WAY HADLEY MA 01035 043167352 501( C )( 3) 10322 RESEARCH WASHINGTON UNIVERSITY 700 ROSEDALE AVE BOX 1034 ST LOUIS MO 631121408 430653611 501( C )( 3) 190706 RESEARCH UNIVERSITY OF CENTRAL FLORIDA 4000 CENTRAL FLORIDA BLVD ORLANDO FL 32816 592924021 501( C )( 3) 55844 RESEARCH CARNEGIE MELLON UNIVERSITY 500 FORBES AVENUE PITTSBURGH PA 15213 250969449 501( C )( 3) 182177 RESEARCH SIEMENS ENERGY INC 4400 ALAFAYA TRAIN ORLANDO FL 32826 133987280 57500 RESEARCH UNIVERSITY OF NORTH DAKOTA 264 CENTENNIAL DR GRAND FORKS ND 58202 456002491 501( C )( 3) 34875 RESEARCH T3 SCIENTIFIC LLC 1839 NOBLE ROAD SAINT PAUL MN 55112 383845717 64465 RESEARCH MEMBRANE TECHNOLOGY AND RESEARCH IN 1360 WILLOW ROAD STE 103 MENLO PARK CA 94025 942795892 34432 RESEARCH SOUTHWEST RESEARCH INSTITUTE 6220 CULEBERA ROAD SAN ANTONIO TX 78228 741070544 501( C )( 3) 23395 RESEARCH SFPE EDUCATIONAL AND SCIENTIFIC FOU 7315 WISCONSIN AVENUE STE 620E BETHESDA MD 20814 046108834 501( C )( 3) 12500 RESEARCH BOARD OF REGENTS DRAWER 538 MILWAUKEE WI 532780538 396006492 501( C )( 3) 9843 RESEARCH CELT CORPORATION 65 WEST BOSTON POST ROAD MARLBOROUGH MA 01752 043439923 122175 RESEARCH 17 5 SCHOLARSHIPS 3493 66304766 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH BOTH ITS OFFICE OF SPONSORED PROGRAMS (OSP) AND ITS RESEARCH ACCOUNTING OFFICE. OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND CERTAIN POST-AWARD ACTIVITIES, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS, AMONG OTHERS. RESEARCH ACCOUNTING MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS AND PREPARATION AND SUBMITTAL OF REQUIRED FEDERAL AGENCY REPORTS ON GRANTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE A FINANCIAL AID APPLICATION AND COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA") FORM. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. X X X X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 DENNIS D BERKEY 646209 0 145000 0 0 0 27042 0 71625 0 889876 0 0 0 JEFFREY S SOLOMON 375908 0 39404 0 0 0 89420 0 12303 0 517035 0 36350 0 A TRACY HASSETT 196950 0 16260 0 0 0 39708 0 6258 0 259176 0 15000 0 STEPHEN P FLAVIN 339537 0 0 0 0 0 80185 0 14903 0 434625 0 0 0 ERIC OVERSTROM 358908 0 0 0 0 0 30733 0 17730 0 407371 0 0 0 KRISTIN R TICHENOR 268808 0 23035 0 0 0 63110 0 12303 0 367256 0 0 0 DIRAN APELIAN 299575 0 0 0 0 0 26977 0 12213 0 338765 0 0 0 SELCUK GUCERI 358578 0 0 0 0 0 0 0 9268 0 367846 0 0 0 FRANCIS HOY 265309 0 0 0 0 0 26712 0 1149 0 293170 0 0 0 KAREN KASHMANIAN OATES 321001 0 0 0 0 0 32625 0 5268 0 358894 0 0 0 MARK RICE 422638 0 0 0 0 0 31455 0 12303 0 466396 0 0 0 JOHN ORR 177789 0 0 0 0 0 17743 0 22166 0 217698 0 0 0 DEXTER BAILEY 128386 0 0 0 0 0 12478 0 4818 0 145682 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING AMOUNTS ARE NOT INCLUDED IN COMPENSATION TAXABLE TO THE EMPLOYEE. - DR. BERKEY: FIRST CLASS AIR TRAVEL $10,372, SPOUSAL TRAVEL FOR BONA FIDE BUSINESS PURPOSES $4,068, VALUE OF PERSONAL USE OF UNIVERSITY PROVIDED HOUSING $42,691 AND SOCIAL CLUB DUES $9,226. - ERIC OVERSTROM: SOCIAL CLUB DUES $5,427. PART I, LINE 4B THE FOLLOWING AMOUNTS WERE ACCRUED AND SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL 6/30/14: SOLOMON $14,850 TICHENOR 2,200 FLAVIN 10,450 PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF WPI HAS A PAY-FOR-PERFORMANCE COMPENSATION PHILOSOPHY IN DETERMINING EXECUTIVE COMPENSATION. - THE PRESIDENT IS ELIGIBLE FOR A PERFORMANCE INCENTIVE BASED ON PERFORMANCE CRITERIA SET BY THE COMMITTEE. IN 2011, THE PAYMENT WAS $145,000. - ANOTHER PLAN THAT IS PART OF THE PHILOSOPHY IS THE "VP RETENTION PLAN". EACH YEAR, A VP MAY EARN UP TO 12.5% OF SALARY AND EXCESS RETIREMENT CONTRIBUTIONS, SUBJECT TO A THREE YEAR RISK OF FORFEITURE. THESE AMOUNTS ARE ALL NON-FIXED PAYMENTS. FOR THOSE LISTED ON SCHEDULE J PART II, THE AMOUNTS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 ARE AS FOLLOWS: 6/30/11 NAME VP INCENTIVE EXCESS RETIREMENT SOLOMON $47,500 $14,850 HASSETT $18,600 0 TICHENOR $33,125 2,200 FLAVIN $42,500 10,450 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RNT8 2007-06-28 86922372 CONSTRUCTION OF A RESIDENCE HALL AND REFUNDING SERIES 1997-I AND II BONDS. 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RTX3 2008-04-09 48995000 REFUNDING OF SERIES 2003 AND SERIES 2005 BONDS 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RS48 2010-01-27 56074338 CONSTRUCTION OF A RECREATION CENTER AND MISC RENOVATIONS ON THE MAIN CAMPUS 0 0 0 3760000 86984724 1379419 43452647 1120319 1013000 40019339 2008 1 0 1 1 1340000 48995000 48650000 325962 19038 2008 1 0 1 1 56087447 5808410 603966 46303511 3371560 0 0 0 1 0 1 1 1 0 0.00520 0.00000 0.00520 1 0 1 1 1 1 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 DEUTSCHE BANK AG AND BARCLAYS BANK 26.800000000000 0 0 0 0 0 0 0 0 0 0 0 X PART II, COLUMN A, LINE 3 ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY INVESTMENT EARNING $62,352, INCLUDED IN TOTAL PROCEEDS OF ISSUE PART II, COLUMN C, LINE 3 ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY INVESTMENT EARNINGS $13,109, INCLUDED IN TOTAL PROCEEDS OF ISSUE ROBERT R MARTIN FAMILY MEMBER OF TRUSTEE 5000 SCHOLARSHIP TIAACREF MR. PETERSON IS A TRUSTEE OF WPI AND A DIRECTOR OF TIAA/CREF 9298326 TIAA/CREF HOLDS A PORTION OF THE ASSETS OF WPI'S DEFINED CONTRIBUTION RETIREMENT PLAN, INCLUDING ELECTIVE EMPLOYEE CONTRIBUTIONS 0 THE O'CONNELL COMPANIES MS. MALTESE IS A TRUSTEE OF WPI AND SHAREHOLDER OF THE O'CONNELL COMPANIES 4833451 DURING FY2012, WPI MADE PAYMENTS OF $4,914,685 TO SUBSIDIARIES OF THE O'CONNELL COMPANIES AND RECEIVED REVENUE OF $81,234. WPI PAID $4,828,346 TO DANIEL O'CONNELL'S SONS INC (DOC) FOR CONSTRUCTION SERVICES. DOC IS A SUBSIDIARY OF THE O'CONNELL COMPANIES. WPI PAID $86,339 TO 50 PRESCOTT STREET LLC FOR CONSTRUCTION SERVICES AND RECEIVED $81,234 IN LEASE REVENUE. O'CONNELL DEVELOPMENT GROUP, A SUBSIDIARY OF THE O'CONNELL COMPANIES, IS THE SOLE GENERAL MANAGER AND MEMBER OF 50 PRESCOTT STREET LLC. 0 SIMPLEX GRINNELL MR. OLIVER IS A TRUSTEE OF WPI AND PRESIDENT & CEO OF TYCO INTERNATIONAL 117624 SIMPLEX GRINNELL IS A SUBSIDIARY OF TYCO INTERNATIONAL,LTD. DURING FY 2012, WPI MADE PAYMENTS TO SIMPLEX GRINNELL FOR FIRE PROTECTION SERVICES AND SYSTEMS. 0 X 53 2818756 FAIR MARKET VALUE X 3 2762450 FAIR MARKET VALUE X LAB EQUIPMENT 15 352654 COST 1 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING FORM 990, MANAGEMENT REVIEWS THE COMPLETED FORM 990 WITH TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, MANAGEMENT PROVIDES THE FORM TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF THE WPI CONFLICT OF INTEREST POLICY, ALL WPI TRUSTEES AND KEY EMPLOYEES (AS DEFINED UNDER IRS RULES) ARE REQUIRED TO SUBMIT ANNUALLY A CONFLICT OF INTEREST ANNUAL DISCLOSURE STATEMENT, IN WHICH THEY AFFIRM THAT THEY: (A.) HAVE RECEIVED A COPY OF THE WPI CONFLICT OF INTEREST POLICY, (B.) HAVE READ AND UNDERSTAND THE POLICY, (C.) AGREE TO COMPLY WITH THE POLICY, AND (D.) UNDERSTAND THAT WPI, AS A TAX-EXEMPT ORGANIZATION, MUST RESTRICT ITS ACTIVITIES PRIMARILY TO THOSE FOR WHICH ITS TAX-EXEMPT STATUS WAS GRANTED. ADDITIONALLY, AS PART OF THE ANNUAL DISCLOSURE STATEMENT PROCESS, TRUSTEES AND KEY EMPLOYEES OF WPI ARE ASKED TO OUTLINE IN A SEPARATE LETTER ANY POSSIBLE CONFLICT OF INTEREST AND ANY SIGNIFICANT FINANCIAL INTEREST WITH WPI OR ANY WPI-RELATED ENTITY. ALL ANNUAL DISCLOSURE STATEMENTS ARE SUBMITTED TO THE UNIVERSITY COMPLIANCE OFFICER, WHO REVIEWS THEM, CONSOLIDATES THE COMMENTS AND PRESENTS A REPORT TO THE WPI AUDIT COMMITTEE. UPON RECEIPT OF THE COMPLIANCE OFFICERS REPORT, THE AUDIT COMMITTEE REVIEWS THE FINDINGS AND TAKES ANY NECESSARY AND APPROPRIATE ACTION. THE AUDIT COMMITTEE THEN REPORTS TO THE FULL BOARD ON THE FINDINGS AND ANY ACTIONS TAKEN BY THE COMMITTEE. ANY TRUSTEE WITH A CONFLICT OF INTEREST RECUSES HIMSELF OR HERSELF FROM ANY BOARD OR COMMITTEE DECISIONS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE ORGANIZATIONS CEO AND OTHER TOP MANAGEMENT IS MODELED AFTER THE REQUIREMENTS IN INTERNAL REVENUE CODE SECTION 4958 TO ESTABLISH THE PRESUMPTION OF REASONABLE COMPENSATION. COMPENSATION IS REVIEWED AND APPROVED BY A COMPENSATION COMMITTEE (THE COMMITTEE) OF THE BOARD, WHICH IS COMPRISED OF INDEPENDENT PERSONS. BY ENGAGING AN INDEPENDENT COMPENSATION CONSULTANT, THE COMMITTEE CONSIDERS COMPARABLE MARKET DATA FROM PUBLISHED SURVEYS AND FORM 990 OF COMPARABLE ORGANIZATIONS IN EVALUATING THE COMPENSATION FOR EACH INDIVIDUAL. THE COMMITTEE CONDUCTS A REVIEW OF THIS COMPARABILITY DATA AND DOCUMENTS ITS DELIBERATION AND DISCUSSION IN MINUTES THAT ARE RETAINED WITH THE OTHER GOVERNANCE MATERIALS OF THE ORGANIZATION. THE COMMITTEE FOLLOWS THE PROCESS TO ESTABLISH THE PRESUMPTION THAT COMPENSATION PAID TO THE ORGANIZATIONS CEO AND OTHER TOP MANAGEMENT FOR PURPOSES OF SECTION 4958 BY RELYING ON PROFESSIONAL ADVICE IN THE WRITTEN OPINION OF REASONABLENESS FROM THE INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON ITS WEBSITE (WWW.WPI.EDU). CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,035,327. NET UNREALIZED GAIN ON BENEFICIAL INTERESTS 1,211,630. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -441,996. NET UNREALIZED LOSS ON INTEREST RATE SWAP -5,968,156. OTHER ADJUSTMENT -1,365. TOTAL TO FORM 990, PART XI, LINE 5: -9,235,214. 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