2011-09-22T09:17:23-05:00 2011-06-30 CAIN BOURRET JARRY & VAILLANCOURT LLC 1595 LAKEVIEW AVENUE DRACUT MA 01826 990 2010-07-01 042052723 INDEPENDENT UNIVERSITY ALUMNI ASSOCIATION AT LOWELL INDE 9784546335 PO BOX 242 LOWELL MA 01853 RICHARD H DONALDSON 9784546335 2011-09-19 true STEVEN R BOURRET 9789571421 2011-09-20 2010 2016-02-24 21:20:13Z DRUCILLA M DAIGLE 86 HAROLD AVENUE DRACUT MA 01826 344756 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 ASSOCIATIONIS ALSO ENTRUSTED WITH THE MANAGEMENT OF ALUMNI'S ENDOWMENT FUNDS, WHICH HAVE BEEN CONTRIBUTED BY FORMER UNIVERSITY ALUMNI TO ASSIST IN THESE ONGOING EFFORTS. 14 14 2 17 0 47791 24501 2347 1492 146021 160084 84289 50023 280448 236100 65800 90184 0 73431 72429 0 2043 77705 70754 216936 233367 63512 2733 4298105 5739468 10534 11055 4287571 5728413 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 ASSOCIATIONIS 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 120161 90184 168507 PROVIDING SCHOLARSHIPS TO INDIVIDUALS ATTENDING THE UNIVERSITY OF MASSACHUSETTS LOWELL WHO OTHERWISE MIGHT NOT HAVE THE FINANCIAL MEANS TO ATTEND COLLEGE. APPROXIMATELY 80 SCHOLARSHIPS AND AWARDS WERE DISBURSED WHILE ALSO PROVIDING 6 GRANTS TO THE UNIVERSITY'S COLLEGE OF MANAGEMENT AND COLLEGE OF ENGINEERING DEPARTMENTS. 91729 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. 211890 true false false false false false false false false true true false false false true true 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 false false 0 0 true 2 true false false false false false false false false false false false false X 14 14 false false false false false false false true true false false false false false false false true false MA X MARGARET SMITH 9784546335 ONE UNIVERSITY AVENUE LOWELL MA 01854 X DRUCILLA M DAIGLE 2.00 X 0 0 0 JOHN J CARTER 2.00 X 0 0 0 THOMAS J VAUGHN 2.00 X 0 0 0 RICHARD DONALDSON 2.00 X 0 0 0 MARY ANN KITROSSER 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 false false false 17006 5101 2394 24501 AREA MEETINGS/CHAPTERS 1492 1492 1492 161036 161036 107704 108656 -952 -952 -952 ALUMNI GROUP INS. ROYALTIES 46414 46414 ALUMNI VISA CARD ROYALTIES 3609 3609 50023 236100 -952 212551 16284 16284 73900 73900 52111 43773 7296 1042 7808 6559 1093 156 8149 6845 1141 163 4361 3663 611 87 6961 5847 975 139 24 24 417 408 8 1 MANAGEMENT FEES - TRUST 34857 29977 4880 NEWSLETTER/COMMUNICATION 5014 4212 702 100 SCHOLARSHIP BANQUET 4148 4148 INSURANCE 4102 3446 574 82 OFFICE POSTAGE 3380 2704 608 68 11851 10100 1546 205 233367 211890 19434 2043 68873 36677 177171 269952 5173 1227 1155 27912 26589 1740 1323 4043921 5429737 624 4298105 5739468 10534 10431 624 10534 11055 X 1046568 1007161 59829 91012 3181174 4630240 4287571 5728413 4298105 5739468 X 2733 1438109 X true false true X false X 26292 25496 33936 54049 24501 164274 26292 25496 33936 54049 24501 164274 164274 185991 185015 163822 150581 161036 846445 39558 32654 34374 77612 51515 235713 1246432 0.13180 0.13750 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 THEENTIRE 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. false false false false false false false 4221082 14815 1589506 -90184 -34906 5700313 3749955 9300 604105 -65800 -76478 4221082 5286221 25870 -1363300 -102750 -96086 3749955 false false false 27912 26589 1323 1323 DUE TO OPERATING FUND 624 624 LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X IN JUNE 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED ASC 740-10-55 (FORMERLY FIN 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), AN INTERPRETATION OF FASB 740-10-50 (FORMERLY SFAS 109, ACCOUNTING FOR INCOME TAXES), THAT CLARIFIES THE ACCOUNTING AND RECOGNITION FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ALUMNI ASSOCIATION'S TAX RETURNS. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ASSOCIATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR- PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. MANAGEMENT HAS EVALUATED THE TAX POSITIONS REFLECTED IN THE ASSOCIATION'S TAX FILINGS AND DOES NOT BELIEVE THAT ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST. true UNIVERSITY OF MASSACHUSETTS-LOWELL COLLEGE OF MGMT & ENGINEERING DEPT ONE UNIVERSITY AVENUE LOWELL MA 01853 046002284 GOV 16284 DEPARTMENT SUPPORT COLLEGE TUITION ASSISTANC 84 73900 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 ASSOCIATIONIS 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 NO DOCUMENTS AVAILABLE TO THE PUBLIC OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 5 IN ACCORDANCE WITH SFAS 124,ACCOUNTING FOR CERTAIN INVESTMENTS HELD BY NOT-FOR-PROFIT ORGANIZATION, THE ORGANIZATIONS RECORDS THE UNREALIZED GAINS AND LOSSES ON ITS ENDOWMENT FUNDS IN ITS ANNUAL FINANCIAL STATEMENTS. THIS CHANGE IS REPORTED AS OTHER INCREASES OR DECREASES IN NET ASSETS ON THE ANNUAL FORM 990.