2012-05-10T15:33:18-05:00 2011-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2010-07-01 041081650 BENTLEY UNIVERSITY BENT 7818912169 175 FOREST STREET WALTHAM MA 024524705 PAUL CLEMENTE 2012-05-10 6179881000 2010 2016-02-24 21:20:13Z PAUL CLEMENTE 175 FOREST STREET WALTHAM MA 024524705 355094000 false X WWW.BENTLEY.EDU X 1917 MA THE UNIVERSITY'S MISSION IS TO CREATE NEW KNOWLEDGE WITHIN AND ACROSS BUSINESS AND THE ARTS AND SCIENCES AND TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS. 25 22 2993 40 879948 -21128 6454171 10039000 217592000 228951810 1835000 480000 1765829 1850710 227647000 241321520 55814000 60995028 0 0 102272939 102319149 0 0 4594144 72215061 73878345 230302000 237192522 -2655000 4128998 466188000 491542000 216425000 207183000 249763000 284359000 X THE UNIVERSITY'S MISSION IS TO CREATE NEW KNOWLEDGE WITHIN AND ACROSS BUSINESS AND THE ARTS AND SCIENCES AND TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS. false false 127216000 60995028 183429810 *INSTRUCTION* SEE SCHEDULE O 37636520 40090000 *AUXILIARY ENTERPRISES* SEE SCHEDULE O 27934000 1850000 *STUDENT SERVICES* SEE SCHEDULE O 11570262 5432000 204356782 true true false true false false true false true true true false false true true true false true false true false true false true false false false true true true false false false false false false true false true true true false false false false true true false false false true 8132 0 true 2993 true true true true BD CJ false false false true true false false false false X 25 22 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 KEVIN ARMATA 1.0 X 0 0 0 ROBERT P BADAVAS 1.0 X 0 0 0 DALE L CARLETON 1.0 X 0 0 0 J TERENCE CARLETON 2.0 X 0 0 0 GEORGE W CARMANY 1.0 X 0 0 0 R MARCELO CLAURE 1.0 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 1.0 X 0 0 0 WILLIAM C FREDA 1.0 X 0 0 0 ANDREW J HAJDUCKY 1.0 X 0 0 0 ROSABETH MOSS KANTER 1.0 X 0 0 0 DANIEL A KESHIAN 1.0 X 0 0 0 FRANCIS F KINGSLEY 1.0 X 0 0 0 DEBORAH A LEITCH 1.0 X 0 0 0 STEVEN MANFREDI 2.0 X 0 0 0 NORMAN I MASSRY 1.0 X 0 0 0 ELKIN B MCCALLUM 1.0 X 0 0 0 NATHAN R MILLER 1.0 X 0 0 0 OLAPERI ONIPEDE 1.0 X 0 0 0 MARK B SKALETSKY 1.0 X 0 0 0 ROBERT F SMITH 1.0 X 0 0 0 NIKOLAS STAVROPOULOS 1.0 X 0 0 0 JEROEN VAN DEN HOVEN 1.0 X 0 0 0 DAVID WEENER 1.0 X 0 0 0 TANYA HAIRSTON WHITNER 1.0 X 0 0 0 GLORIA CORDES LARSON 65.0 X X 567594 0 98531 TRACI LOGAN 40.0 X 330846 0 34427 MIKE PAGE 40.0 X 308754 0 32587 PAUL CLEMENTE 40.0 X 297241 0 42926 JOANN MCKENNA 40.0 X 281334 0 28685 JOHN MOSSER 40.0 X 259884 0 48221 KATHLEEN YORKIS 40.0 X 215467 0 41910 SANDRA KING 40.0 X 265650 0 42570 JUDY MALONE 40.0 X 191086 0 34206 ROBERT GALLIERS 40.0 X 372869 0 33094 JAMES HUNTON 40.0 X 357752 0 45783 M LYNNE MARKUS 40.0 X 314068 0 31537 JEAN BEDARD 40.0 X 290436 0 28701 PIERRE BERTHON 40.0 X 254131 0 27224 4307112 0 570402 219 false true false CONNOR ARCHITECTURE 171 MASSACHUSETTS AVENUE ARLINGTON MA 02474 ARCHITECTS 1707855 HURLEY OF AMERICA PO BOX 3157 BOSTON MA 02241 FACILITIES SERVICES 607843 ACADEMIC RISK RESOURCES 930 COMMONWEALTH AVENUE BOSTON MA 02215 INSURANCE MANAGEMENT 542780 KPMG LLP 2 FINANCIAL CENTER 60 SOUTH STREET BOSTON MA 02111 AUDITORS 188000 CAMBRIDGE ASSOCIATES 100 SUMMER STREET BOSTON MA 02110 AUDITORS 183405 5 13190 2044000 7981810 129584 10039000 TUITION AND FEES 900099 183451000 183451000 AUXILIARY 900099 44637862 43499257 1138605 CONFERENCE SERVICES 721000 760822 760822 NATATORIUM USE 713940 102126 102126 228951810 480000 17000 463000 0 0 0 0 0 0 0 113752000 0 113752000 0 0 21190 13190 20480 710 710 0 0 0 OTHER SOURCES 900099 1850000 1850000 1850000 241321520 228800257 879948 1602315 0 59543000 59543000 1452028 1452028 0 2689904 265063 2202922 221919 0 77962517 62323930 13462039 2176548 6055583 4339308 1566496 149779 10482383 8413085 1810027 259271 5128762 3917108 1084799 126855 1476673 776526 523989 176158 273429 273429 349674 349674 5373 5373 0 1521000 76050 1444950 5458896 4355974 1102922 3257306 2724977 492798 39531 5252982 4162251 812088 278643 0 0 14933445 14455022 318579 159844 1157751 895584 169952 92215 0 1161572 1100875 5781 54916 9753687 9294969 458718 0 18049900 17303679 746221 592609 51309 541300 PURCHASED SERVICES 4836398 3436396 542518 857484 STUDY ABROAD 3971284 3971284 LEASING AND RENTALS 1461622 1388385 72277 960 MISCELLANEOUS 364744 109979 254744 21 237192522 204356782 28241596 4594144 14483000 15226000 6975000 8376000 1697000 1766000 7596000 8239000 3066000 1910000 412345000 166233000 256455000 246112000 112488000 140961000 61074000 66881000 2354000 2071000 466188000 491542000 27883000 26016000 7296000 8568000 146767000 142182000 34479000 30417000 216425000 207183000 X 172530000 192576000 38613000 51258000 38620000 40525000 249763000 284359000 466188000 491542000 X 4128998 30467002 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 5373 5373 false LOBBYING EXPENSES PART II-B, LINE 1I MISCELLANEOUS LOBBYING $5,373 X false 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 321366000 118119933 203246067 58900000 48092224 10807776 208000 20843 187157 246112000 HEDGE FUNDS 44200000 F PARTNERSHIPS 22681000 F 66881000 0 INTEREST RATE SWAP AGREEMENTS 18735000 POST RETIREMENT BENEFITS 4991000 REFUNDABLE U.S. GOVERNMENT GRANTS 6691000 30417000 241321520 237192522 4128998 33056000 -2589000 30467000 34595998 271809000 33056000 -2589000 30467000 241342000 -20480 -20480 241321520 237213002 20480 20480 237192522 237192522 ENDOWMENT FUNDS PART XI, LINE 4 THE UNIVERSITY'S ENDOWMENT PROVIDES FOR SCHOLARSHIP TO STUDENTS, SUPPORT FOR ACADEMIC PROGRAMS, AND SUPPORT FOR PROGRAM ACTIVITIES. IN ADDITION, QUASI ENDOWMENT REPRESENTS 62% OF THE ENDOWMENT AND THOSE FUNDS ARE AVAILABLE FOR USE ON AN AS NEEDED BASIS WHEN APPROVED BY THE BOARD OF TRUSTEES. OTHER CHANGES IN NET ASSETS PART XI, LINE 8 THE AMOUNT REPRESENTS CHANGE IN FAIR VALUE OF INTEREST RATES WAS (+$4.140M) + CHANGE IN VALUE OF SPLIT INTERESTS (+$382K), POST RETIREMENT COSTS (+120K), LOSS ON CHANGE IN CAPITALIZATION POLICY (-$5.520M) LOSS ON DEBT REFINANCING (-$1.711M) OTHER CHANGES IN NET ASSETS PART XII, LINE 2D AMOUNT REPRESENTS CHANGE IN FAIR VALUE OF INTEREST RATE WAS (+$4.140M) + CHANGE IN VALUE OF SPLIT INTEREST (+$382K), POST RETIREMENT COSTS (+120K), LOSS ON CHANGE IN CAPITALIZATION POLICY (-$5.520M) LOSS ON DEBT REFINANCING (-$1.711M). OTHER REVENUE INCLUDED ON FORM 990, PART VIII, BUT NOT ON LINE 1 PART XII, LINE 4B RECLASS OF FUNDRAISING EXPENSES -20,480 OTHER EXPENSES ON LINE 1, BUT NOT ON FORM 990, PART IX, LINE 25 PART XIII, LINE 2D RECLASS OF FUNDRAISING EXPENSES 20,480 FINANCIAL STATEMENTS PART X, LINE 2 THE UNIVERSITY IS A TAX-EMEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE UNIVERSITY ASSESSES WHETHER UNCERTAIN TAX POSITIONS EXIST AND DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. COLLETCTIONS OF ART PART III, LINE 4 THE UNIVERSITY OWNS A MODERN COLLECTION OF ABOUT 30 PAINTINGS AND SCULPTORS THAT APPEAR IN PUBLIC COMMON AREAS THROUGHOUT THE CAMPUS, IN CONFERENCE ROOMS, AND IN THE PRESIDENT'S HOUSE. 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, NATIONAL OR ETHNIC ORIGIN, RELIGION, HANDICAP OR DISABILITY. 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. FINANCIAL AID AND GOVERNMENTAL ASSISTANCE SCHEDULE E, LINE 6A THE COLLEGE RECEIVED FEDERAL TITLE IV MONIES FROM THE UNITED STATES DEPARTMENT OF EDUCATION AS WELL AS VARIOUS STATE AGENCIES. true East Asia and the Pacific 0 0 Program Services STUDY ABROAD 1529413 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 3231857 Middle East and North Africa 0 0 Program Services STUDY ABROAD 116672 South America 0 0 Program Services STUDY ABROAD 167497 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 88500 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 55100 Central America and the Caribbean 0 0 Investments 11725485 0 0 0 0 16914524 16914524 SCHOLARSHIPS ASSISTANCE East Asia/Pacific 39 383785 ACCT CREDIT SCHOLARSHIPS ASSISTANCE Europe/Iceland/Greenland 112 1025071 ACCT CREDIT SCHOLARSHIPS ASSISTANCE Sub-Saharan Africa 4 12500 ACCT CREDIT SCHOLARSHIPS ASSISTANCE Middle East/North Africa 2 30672 ACCT CREDIT true false false true true true 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. GOLF 34380 13190 21190 0 3680 16800 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34380 13190 21190 0 3680 16800 0 0 0 20480 710 true SCHOLARSHIPS ASSISTANCE 3141 59543000 PART I LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. THESE AMOUNTS ARE APPLIED TO EACH STUDENT'S ACCOUNT. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. X X true true X X X X X true false false false false false false false false GLORIA CORDES LARSON 567594 0 0 0 0 0 24500 0 74031 0 666125 0 0 0 TRACI LOGAN 330846 0 0 0 0 0 24500 0 9927 0 365273 0 0 0 MIKE PAGE 308754 0 0 0 0 0 24500 0 8087 0 341341 0 0 0 PAUL CLEMENTE 297241 0 0 0 0 0 24500 0 18426 0 340167 0 0 0 JOANN MCKENNA 281334 0 0 0 0 0 24500 0 4185 0 310019 0 0 0 JOHN MOSSER 259884 0 0 0 0 0 24500 0 23721 0 308105 0 0 0 KATHLEEN YORKIS 215467 0 0 0 0 0 21263 0 20647 0 257377 0 0 0 SANDRA KING 198054 0 0 0 67596 0 20279 0 22291 0 308220 0 0 0 JUDY MALONE 191086 0 0 0 0 0 9616 0 24590 0 225292 0 0 0 ROBERT GALLIERS 372869 0 0 0 0 0 24500 0 8594 0 405963 0 0 0 JAMES HUNTON 357752 0 0 0 0 0 24500 0 21283 0 403535 0 0 0 M LYNNE MARKUS 314068 0 0 0 0 0 23538 0 7999 0 345605 0 0 0 JEAN BEDARD 290436 0 0 0 0 0 24159 0 4542 0 319137 0 0 0 PIERRE BERTHON 254131 0 0 0 0 0 19302 0 7922 0 281355 0 0 0 BENEFITS PART I, LINE 1A 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. IN ADDITION,ESTIMATED PERSONAL COST RELATED TO MAID SERVICE FOR THE HOUSE IS $6,240 FOR PERSONAL SERVICES. THE VALUE OF THE HOUSING AND PERSONAL SERVICE IS INCLUDED AS NONTAXABLE BENEFITS. PART I, LINE 4A VICE PRESIDENT SANDRA KING TERMINATED EMPLOYMENT ON SEPTEMBER 30,2010. SHE RECEIVED A SEVERANCE PAYMENT OF HER MONTHLY SALARY FROM OCTOBER 2010 THROUGH JUNE 2011. AMOUNTS PAID DURING THE 2010 CALENDAR YEAR FOR SEVERANCE TOTALED $67,596. GE GOVERNMENT FINANCE PRIVATE ISSUE 043431814 2008-05-15 60000000 $56.1M REFUNDING PRIOR TO DEBT;3.9 false false false MDFA 043431814 57583R2N4 2010-09-16 41816878 REFUNDING false false false 60000000 112550 3787450 2008 true false true true 41816878 454697 2010 true false true true false false false false true 0.00710 0.00710 true false true false false false false false false false false false false NA N/A 11860 SCHOLARSHIP SUE NEWELL SPOUSE OF ROBERT GALLIERS 252093 SALARY/FACULTY MEMBER false NATIONAL GRID N. STAVROPOULOS - TRUSTEE 112356 SEE PART IV false BCBS OF MASSACHUSETTS G. CORDES LARSON - PRES. 168521 SEE PART IV false BUSINESS TRANSACTIONS WITH INTERESTED PERSONS PART IV NIKOLAS STAVROPOULOS IS AN OFFICER AT NATIONAL GRID, A UTILITY COMPANY HIRED BY THE UNIVERSITY TO SUPPLY NATURAL GAS TO CAMPUS. THE HIRING OF THE COMPANY WAS AN OPEN BID PROCESS WHERE OUR PURCHASING DEPARTMENT RECEIVED THREE SEPARATE BIDS. FURTHERMORE, MR. STAVROPOULOS WAS NOT INVOLVED IN THE BIDDING PROCESS. GLORIA LARSON IS A BOARD MEMBER AT BLUE CROSS BLUE SHIELD, AN INSURANCE COMPANY THE UNIVERSITY USES TO OFFER HEALTH COVERAGE FOR ITS RETIRED EMPLOYEES ONLY. THEIR APPOINTMENT IS RENEWED ANNUALLY THRU A BID PROCESS CONDUCTED BY AN INDEPENDENT BROKER. FURTHERMORE, MS. LARSON WAS NOT INVOLVED IN THE BIDDING PROCESS. X 10 48151 FAIR MARKET VALUE X SOFTWARE 1 40000 FAIR MARKET VALUE X MISC. EVENTS/TICKETS 7 35756 FAIR MARKET VALUE X EQUIPMENT 5 5677 FAIR MARKET VALUE 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 3 BENTLEY UNIVERSITY IS ONE OF THE NATION'S LEADING BUSINESS SCHOOLS, DEDICATED TO PREPARING A NEW KIND OF BUSINESS LEADER AND ONE WITH THE DEEP TECHNICAL SKILLS, THE BROAD GLOBAL PERSPECTIVE AND THE HIGH ETHICAL STANDARDS REQUIRED TO MAKE A DIFFERENCE IN AN EVER-CHANGING WORLD. TO ACHIEVE ITS GOAL, BENTLEY INFUSES ITS ADVANCED BUSINESS CURRICULUM WITH THE RICHNESS OF A LIBERAL ARTS EDUCATION. THE RESULTS ARE GRADUATES WHO ARE MAKING AN IMPACT IN THEIR CHOSEN FIELDS AND TURNING THEIR PASSIONS INTO SUCCESS STORIES. LOCATED ON A CLASSIC NEW ENGLAND CAMPUS JUST MINUTES FROM BOSTON, BENTLEY IS A DYNAMIC COMMUNITY OF LEADERS, SCHOLARS, AND CREATIVE THINKERS. TODAY, THE CHALLENGES OF A RAPIDLY CHANGING WORLD HAVE MADE BUSINESS SKILLS AND EXPERIENCES HOT COMMODITIES. MORE STUDENTS ARE CONSIDERING BUSINESS AS THE FOUNDATION OF THEIR HIGHER EDUCATION EXPERIENCE, AND CONSIDERING BENTLEY IN THE PROCESS. WITH ITS UNIQUE BLEND OF BUSINESS, TECHNOLOGY, AND THE LIBERAL ARTS, BENTLEY PROVIDES STUDENTS WITH RELEVANT, PRACTICAL, AND TRANSFERABLE SKILLS. BENTLEY BLENDS THE BREADTH AND TECHNOLOGICAL STRENGTH OF A LARGE UNIVERSITY WITH THE VALUES AND STUDENT FOCUS OF A SMALL COLLEGE. STUDENTS INTERESTED IN BUSINESS PROFESSIONS CHOOSE FROM A WIDE RANGE OF PROGRAMS THAT ADDRESS ALL FUNCTIONAL AREAS INCLUDING ACCOUNTANCY, FINANCE, MARKETING, MANAGEMENT, AND LIBERAL ARTS - ALL ANCHORED IN TECHNOLOGY. BENTLEY GRADUATES EXCEL IN COMPLEX AND DYNAMIC ENVIRONMENTS THROUGH THEIR CAPACITY TO INITIATE, LEAD, AND EFFECT VALUE-CREATING CHANGE. AS RESPONSIBLE AND ETHICAL INDIVIDUALS, THEY RECOGNIZE AND TAKE INTO ACCOUNT THE BROADER SOCIAL, POLITICAL, AND ENVIRONMENTAL CONTEXT WITHIN WHICH ALL ORGANIZATIONS OPERATE. AS A BUSINESS UNIVERSITY, BENTLEY UNIVERSITY DISTINCTIVELY INTEGRATES BUSINESS AND THE LIBERAL ARTS AND IS INTERNATIONALLY KNOWN FOR THE QUALITY AND IMPACT OF ITS EDUCATIONAL PROGRAMS AND RESEARCH. BENTLEY IS A LEADER IN PROMOTING ETHICAL AND SOCIALLY RESPONSIBLE ENTERPRISE AND THE CRITICAL ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY IN ACHIEVING SUSTAINABLE HIGH PERFORMANCE. BENTLEY UNIVERSITY OFFERS BACHELOR OF SCIENCE DEGREES IN 11 BUSINESS FIELDS AND BACHELOR OF ARTS DEGREES IN FIVE ARTS AND SCIENCES DISCIPLINES. THE GRADUATE SCHOOL EMPHASIZES THE IMPACT OF TECHNOLOGY ON BUSINESS PRACTICE AND OFFERS PHD PROGRAMS IN BUSINESS AND ACCOUNTANCY, AN MBA WITH 17 AREAS OF CONCENTRATION, AN INTEGRATED MS+MBA, SEVEN MASTER OF SCIENCE DEGREES, AND CUSTOM EXECUTIVE EDUCATION PROGRAMS. BENTLEY UNIVERSITY ENJOYS A STRONG POSITION IN MANY MAJOR RANKINGS INCLUDING U.S. NEWS WORLD REPORT, BUSINESSWEEK, THE PRINCETON REVIEW, AND MANY OTHERS. THE UNIVERSITY'S UNDERGRADUATE AND GRADUATE PROGRAMS ARE ACCREDITED BY AACSB INTERNATIONAL AND THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS. BENTLEY IS ALSO ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND IN THE U.S. TO EARN EUROPEAN QUALITY IMPROVEMENT SYSTEM (EQUIS) ACCREDITATION. PROGRAM SERVICES FORM 990, PART III, LINES 4A-4D LINE 4A INSTRUCTION BENTLEY UNIVERSITY EDUCATES STUDENTS AND GENERATES NEW KNOWLEDGE BY UNITING THE RIGOR, RELEVANCE, CREATIVITY AND INTELLECTUAL DYNAMICS OF BUSINESS AND THE LIBERAL ARTS. OUR GRADUATES ARE TALENTED, ETHICAL INDIVIDUALS WHO MAKE SIGNIFICANT CONTRIBUTIONS TO THEIR ORGANIZATIONS AND THE BROADER SOCIETY, THROUGH THEIR ABILITY TO: o EXAMINE SITUATIONS FROM MULTIPLE PERSPECTIVES o UNDERSTAND AND APPLY INFORMATION TO DECISION-MAKING o FULLY UTILIZE TECHNOLOGY o CONNECT PEOPLE AND IDEAS o OPERATE COMFORTABLY WITH AMBIGUITY AND RISK o WORK EFFECTIVELY WITH DIVERSE INDIVIDUALS AND GROUPS THE UNDERGRADUATE UNIVERSITY PREPARES STUDENTS FOR CAREERS AND FOR LIFE, EDUCATING GRADUATES WHO ARE PROFESSIONALLY SKILLED, CULTURALLY LITERATE, CREATIVE AND SOCIALLY RESPONSIBLE THROUGH: o INNOVATION AND INTEGRATED BUSINESS, AND ARTS AND SCIENCES CURRICULA, ENABLED AND ENHANCED BY TECHNOLOGY; o COURSES AND PROGRAMS THROUGHOUT THE CURRICULUM THAT INTERWEAVE THE ARTS AND SCIENCES, AND BUSINESS; o CO-AND-EXTRA-CURRICULAR ACTIVITIES THAT EMPHASIZE GLOBAL EXPERIENCES, COMMUNITY SERVICE, CREATIVE ENDEAVOR, AND ENGAGEMENT IN THE REAL WORLD OF PROFESSIONAL PRACTICE; o A DYNAMIC CAMPUS LIFE FULL OF INTELLECTUAL, SOCIAL, CREATIVE, AND ATHLETIC OPPORTUNITIES, AND INFUSED WITH CULTURAL DIVERSITY AND COMMUNITY SPIRIT. THE MCCALLUM GRADUATE SCHOOL PREPARES STUDENTS FOR CAREERS IN SERVICES- ORIENTED, INFORMATION-INTENSIVE PROFESSIONS THROUGH: o A SUITE OF MBA PROGRAMS, INCLUDING THE BENTLEY MBA, A UNIQUELY DIFFERENT APPROACH TO GRADUATE MANAGEMENT EDUCATION THAT USES A STUDIO MODEL APPROACH TO ASSIST STUDENTS TO INNOVATE, APPLY TEAMWORK SKILLS, AND PROMOTE CREATIVITY. o A DISTINCTIVE ARRAY OF MS PROGRAMS, EACH OFFERING THE DEPTH, SOPHISTICATION, AND ORIENTATION TO EMERGING PRACTICE NECESSARY TO LAUNCH AND ADVANCE CAREERS IN THE KNOWLEDGEBASED, SERVICE PROFESSIONS o A SCHOOL-WIDE EMPHASIS ON ETHICS AND SOCIAL RESPONSIBILITY o EXTENSIVE OPPORTUNITIES TO INTERACT WITH THE BUSINESS COMMUNITY THROUGH FIELD-BASED COURSEWORK, CONSULTING PROJECTS, WORK EXPERIENCES AND CAREER ADVISING. THE UNIVERSITY ALSO OFFERS TWO BENTLEY PHD PROGRAMS (IN ACCOUNTANCY AND BUSINESS) WHICH ARE BOTH THEMATICALLY FOCUSED AROUND BUSINESS, SOCIETY AND TECHNOLOGY. OUR 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 YOU RECEIVE A BROAD LIBERAL EDUCATION, AS WELL AS ACQUIRING DEPTH IN A PARTICULAR FIELD OF STUDY. WE BELIEVE A BROAD YET DEEP EDUCATION BETTER EQUIPS YOU FOR A CAREER IN EITHER ACADEMIA OR BUSINESS. LINE 4B AUXILIARY ENTERPRISES THE MAIN PURPOSE OF THE UNIVERSITY'S AUXILIARY ENTERPRISES IS TO PROVIDE ROOM AND BOARD CAPABILITIES FOR THE STUDENTS WHO CHOOSE TO LIVE ON CAMPUS. ABOUT 80 PERCENT OF FULL-TIME BENTLEY UNDERGRADUATES LIVE ON CAMPUS - AND AMONG FRESHMEN, THAT FIGURE IS APPROXIMATELY 98 PERCENT. FRESHMEN LIVE IN TRADITIONAL DORMITORY RESIDENCE HALLS WITH DOUBLE, TRIPLE, OR QUAD OCCUPANCY. UPPERCLASSMEN 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 ROOMS. 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. SECURITY IS IMPORTANT TOO: STUDENTS MUST USE THEIR PERSONAL ID CARDS TO GAIN ENTRANCE TO EACH BUILDING. AT BENTLEY, THERE'S PLENTY TO CHOOSE FROM WHEN YOU'RE HUNGRY. DINING SERVICES OFFERS A RANGE OF DELICIOUS AND CONVENIENT DINING OPTIONS FROM SEASONS DINING ROOM, OUR MAIN DINING HALL ON CAMPUS, TO THE MAD FALCON FEATURING YELLA'S SANDWICHES, WHICH IS THE PERFECT PLACE TO GRAB A MIDNIGHT SNACK. FOUR DIFFERENT DINING PLANS ARE TAILORED TO MAKE SURE STUDENTS GET THE BEST VALUE. LINE 4C STUDENT SERVICES THE BENTLEY CAMPUS IS HOME TO MORE THAN 100 STUDENT CLUBS AND ORGANIZATIONS AND AN ACTIVE FRATERNITY AND SORORITY LIFE. WHETHER YOU'RE INTERESTED IN BILLIARDS, DANCE, ENTREPRENEURSHIP, FASHION, FILM, POKER,OR SKIING AND SNOWBOARDING, BENTLEY HAS A GROUP FOR IT HERE - AND FOR EVERYTHING IN BETWEEN. BY PARTICIPATING IN ONE OF THE UNIVERSITY'S STUDENT ORGANIZATIONS, A STUDENT LEARNS VALUABLE SKILLS IN LEADERSHIP, TEAMWORK AND COLLABORATION. BENTLEY BELIEVES YOU'RE NOT GETTING A FULL EDUCATION UNLESS THE ARTS AND CULTURAL OPPORTUNITIES ARE INCLUDED. THAT'S WHY STUDENTS ARE ENCOURAGED TO COMPLEMENT THEIR BUSINESS AND TECHNOLOGY SKILLS WITH EXPLORATION OF THE ARTS, FROM MUSIC AND PHOTOGRAPHY TO THEATER, FILM AND DRAWING. THE UNIVERSITY'S DIVERSE AND GLOBAL COMMUNITY IS WELL REPRESENTED ON CAMPUS THROUGH STUDENT CULTURAL ASSOCIATIONS; RELIGIOUS AND SPIRITUAL ACTIVITIES; AND SPECIAL EVENTS, LECTURES AND WORKSHOPS. THE PAYOFF IS GRADUATES WHO ARE INTERESTING, WELL-ROUNDED PEOPLE. THROUGH THE CENTER FOR HEALTH AND WELLNESS, BENTLEY OFFERS A RANGE OF QUALITY HEALTH CARE SERVICES AND HEALTH EDUCATION PROGRAMS, HELPING ENSURE STUDENTS ARE ALWAYS READY TO PERFORM AT YOUR BEST. IF EXERCISE AND GETTING FIT ARE A STUDENT'S AIM, THE TOP-NOTCH DANA ATHLETIC CENTER AND INTRAMURAL SPORTS PROGRAMS PUTS THESE GOALS WITHIN EASY REACH. WHILE ON CAMPUS, BENTLEY IS DEDICATED TO CREATING A SAFE, CIVIL, AND INCLUSIVE ENVIRONMENT THANKS IN LARGE PART TO THE UNIVERSITY'S POLICE DEPARTMENT. OFFICERS TAKE A PROACTIVE APPROACH TO SAFEGUARDING THE CAMPUS COMMUNITY AND PROMOTING SECURITY AWARENESS THROUGH EDUCATIONAL PROGRAMS, A SAFETY ESCORT SERVICE, TRAINING IN CPR AND FIRST AID, AND REGULAR PATROLS. LINE 4D OTHER PROGRAM SERVICES OTHER PROGRAM SERVICES INCLUDE PROVIDING SUPPORT FOR THE STATE OF THE ART LIBRARY, THE ACADEMIC TECHNOLOGY CENTER, ENTERPRISE INFRASTRUCTURE, CLIENT COMPUTER SERVICES AND OTHER SIMILAR ACADEMIC SERVICES. 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 TO THE UNIVERSITY'S TRUSTEE AUDIT COMMITTEE IN MID APRIL FOR ITS REVIEW. UPON COMPLETION OF THAT REVIEW, THE COMPLETE FORM 990 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 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS SALARY AND BENEFIT COMPENSATION FOR OUR PRESIDENT AND ALL OFFICERS. THIS INCLUDES REVIEW OF OTHER NON-PROFIT ORGANIZATION'S FORM 990, GENERAL SALARY SURVEYS AND STUDIES, AND REQUIRES APPROVAL BY THE FULL BOARD. IN ADDITION, THE PRESIDENT SIGNS A WRITTEN EMPLOYMENT CONTRACT. 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 AVAILABLE TO THE PUBLIC. THE UNIVERSITY'S FINANCIAL STATEMENTS ARE POSTED ON OUR WEBSITE FOR PUBLIC VIEWING. REGARDING CONFLICT OF INTEREST, THE INDIVIDUAL FORMS SIGNED BY TRUSTEES AND OFFICERS ARE NOT AVAILABLE FOR PUBLIC INSPECTION BUT THE FOLLOWING INFORMATION IS CONTAINED IN THE UNIVERSITY'S FINANCIAL STATEMENTS: MEMBERS OF THE UNIVERSITY 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 WRITTEN A 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 ARM'S 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. THE UNIVERSITY'S FORM 990 AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE AT THE WEBSITE OF THE ATTORNEY GENERAL. OTHER CHANGES IN NET ASSETS OR FUND BALANCES 990, PART XI, LINE 5 UNREALIZED GAIN ON INVESTMENTS 33,056,002 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 4,140,000 CHANGE IN VALUE OF SPLIT INTEREST TRUST 382,000 CHANGE IN POST-RETIREMENT OBLIGATIONS 120,000 LOSS ON CAPITALIZATION POLICY -5,520,000 LOSS ON DEBT REFINANCING -1,711,000 --------------- TOTAL 30,467,000 SR CR TRUST 175 STREETWALTHAM WALTHAM MA 02452 222717237 CRUT N/A TRUST 0 665759 0.71000 SR CR TRUST 175 FOREST STREET WALTHAM MA 02452 222717231 CRUT N/A TRUST 0 604535 0.65000 KAK CR TRUST 175 FOREST STREET WALTHAM MA 02452 206402794 CRUT N/A TRUST 0 175459 0.88000 SL CR TRUST 175 STREETWALTHAM WALTHAM MA 02452 206192588 CRAT N/A TRUST 0 63630 0.88000 CH CR TRUST 175 FOREST STREET WALTHAM MA 02452 206192568 CRAT N/A TRUST 0 63503 0.88000 WH CR TRUST 175 FOREST STREET WALTHAM MA 02452 046643408 CRAT N/A TRUST 0 3812 0.52000 LK CR TRUST 175 FOREST STREET WALTHAM MA 02452 046778665 CRUT N/A TRUST 0 20965 0.55000 LB CR TRUST 175 FOREST STREET WALTHAM MA 02452 222786971 CRUT N/A TRUST 0 15368 0.63000 HMF CR TRUST 175 FOREST STREET WALTHAM MA 02452 046797954 CRAT N/A TRUST 0 15101 0.66000 MF CR TRUST 175 FOREST STREET WALTHAM MA 02452 222716926 CRUT N/A TRUST 0 13179 0.65000 HMF CR TRUST 175 FOREST STREET WALTHAM MA 02452 046665903 CRAT N/A TRUST 0 12714 0.63000 false false false false false false false false false false false false false false false false false false