2024-04-17T12:08:41-05:00 2023-06-30 420714325 RSM US LLP 151 WEST 42ND STREET 19TH FLOOR NEW YORK NY 10036 990 2022-07-01 042134818 LABOURE COLLEGE OF HEALTHCARE INC LABO 6173223500 303 ADAMS STREET MILTON MA 02186 DR LILY HSU PRESIDENT 6173223500 2024-04-17 1 DR LILY HSU 999009999 0 KRISTIN ANDERSON P01231300 2123721000 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR LILY HSU 303 ADAMS STREET MILTON MA 02186 31106315 0 X WWW.LABOURE.EDU X 1951 MA LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS. INHERENT IN THE CATHOLIC IDENTITY OF THE COLLEGE AND OUR EDUCATIONAL MISSION IS A COMMITMENT TO JUDAEO-CHRISTIAN PRINCIPLES WHICH INFLUENCE THE ACADEMIC CURRICULA AND THE COLLEGE ENVIRONMENT. CONSISTENT WITH THESE PRINCIPLES, THE COLLEGE SEEKS TO GIVE OPPORTUNITIES TO A DIVERSE POPULATION OF STUDENTS TO CONTINUE THEIR EDUCATION AS MATURE ADULTS AND RESPONSIBLE WORLD CITIZENS. 15 15 276 20 0 0 2653233 765766 21735676 20550924 198969 -135387 5838 31613 24593716 21212916 2239610 658286 0 0 12759679 13643506 0 0 378530 6483384 6678270 21482673 20980062 3111043 232854 46254631 46872756 12774857 12279473 33479774 34593283 LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS. 0 0 16682847 658286 20582537 LABOURE COLLEGE HAS A UNIQUE AND EXTENSIVE 131 YEAR HISTORY IN THE EDUCATION OF HEALTH CARE PROFESSIONALS IN THE GREATER BOSTON AREA. APPROXIMATELY 1,200 STUDENTS, MOST PART TIME, RECEIVE AN EDUCATION WITH THE DISTINCT FOCUS OF EDUCATION FOR PRACTICE IN THE HEALTH SECTOR. WE ARE COMMITTED TO PREPARING INDIVIDUALS TO DELIVER PATIENT-CENTERED CARE AS MEMBERS OF AN INTERDISCIPLINARY TEAM. THE INDIVIDUAL PROGRAMS PROVIDE CLINICAL EDUCATION EMPHASIZING EVIDENCE-BASED PRACTICE, INCLUDING THE LATEST RESEARCH AND CLINICAL EXPERTISE. QUALITY IMPROVEMENT APPROACHES AND THE USE OF INFORMATION TECHNOLOGY ARE IMPORTANT COMPONENTS OF EACH PROGRAM. LABOURE COLLEGE AND EACH OF ITS PROGRAMS ARE REGIONALLY ACCREDITED BY NEW ENGLAND COMMISSION OF HIGHER EDUCATION. 16682847 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 54 0 1 276 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X WILLIAM MCDONALD 6173223576 303 ADAMS STREET MILTON MA 02186 KIM BASSETT DIRECTOR (AS OF 4/12/23) 0.30 X 0 0 0 ROBERT DIMASE DIRECTOR (AS OF 1/1/23) 0.30 X 0 0 0 DEBRA FARRAR-PARKMAN DIRECTOR (AS OF 11/29/22) 0.30 X 0 0 0 WATURA FINLEY DIRECTOR (AS OF 4/12/23) 0.30 X 0 0 0 THERESE FITZGERALD DIRECTOR 0.30 X 0 0 0 GEORGE GEARY DIRECTOR (AS OF 8/31/22) 0.30 X 0 0 0 DEIRDRE HOUTMEYERS DIRECTOR (AS OF 1/1/23) 0.30 X 0 0 0 DAVID J HOUSTON DIRECTOR (UNTIL 11/22/22) 0.30 X 0 0 0 JEANNE KELLY DIRECTOR 0.30 X 0 0 0 MARY ANNE LAGAN DIRECTOR (AS OF 8/31/22) 0.30 X 0 0 0 ANTOINETTE LEONEY DIRECTOR (UNTIL 12/31/22) 0.30 X 0 0 0 BILL MCGINLEY DIRECTOR 0.30 X 0 0 0 CYNTHIA M PASCIUTO DIRECTOR (UNTIL 11/04/22) 0.30 X 0 0 0 JOSHUA B SIEGEL DIRECTOR (AS OF 4/12/23) 0.30 X 0 0 0 JEAN YANG DIRECTOR (AS OF 10/5/22) 0.30 X 0 0 0 DAMIEN DEVASTO DIRECTOR & CHAIR (UNTIL 12/31/22) 0.30 X X 0 0 0 JOSEPH RIZZO DIRVICE CHAIR (UNTIL 12/31/22),CHAIR(AS OF 1/1/23) 0.30 X X 0 0 0 ROBERTA COEN DIRECTOR VICE CHAIR (AS OF 8/5/22) 0.30 X X 0 0 0 NEAL F FINNEGAN DIRECTOR & TREAS. (UNTIL 12/22/22) 0.30 X X 0 0 0 FR ERIC CADIN DIRECTOR, SECRETARY 0.30 X X 0 0 0 LILY S HSU EDD PRESIDENT 40.00 X 375494 0 30487 WILLIAM MCDONALD VP OF FINANCE AND ADMINISTRATION 40.00 X 197439 0 16407 MARILYN GARDNER VP OF INSTITUTIONAL EXCELLENCE 40.00 X 197657 0 35025 MARIA ALTOBELLO VP OF ACADEMIC & STUDENT AFFAIRS 40.00 X 186069 0 8747 JUSTIN G ROY VP OF ENROLLMENT & MARKETING (THRU 11/23/22) 40.00 X 174467 0 24072 KATELYN DWYER EXEC DIRECTOR OF COMMUNICATIONS & DEVELOPMENT 40.00 X 172472 0 31255 JEREMY SPENCER VP OF ENROLLMENT MANAGEMENT (AS OF 1/17/23) 40.00 X 0 0 0 JO ANNE FOLEY ASSOCIATE PROFESSOR 40.00 X 190241 0 18784 BONNIE ZAPOLIN ASSISTANT PROFESSOR, NURSING 40.00 X 152160 0 6017 ERIC J BUONACCORSI ASSISTANT PROFESSOR, NURSING 40.00 X 147566 0 20845 KAREN MANNING DEAN, DIVISION OF NURSING 40.00 X 137398 0 29172 KELLY ERRICO ADJUNCT PROFESSOR 40.00 X 142935 0 34910 2073898 0 255721 25 0 1 0 ASSESSMENT TECHNOLOGIES INSTITUTE LLC 6277 COLLECTIONS CENTER DRIVE CHICAGO IL 606930622 TESTING 1005023 PEPPER GANG 12 MARSHALL ST BOSTON MA 02108 DIGITAL MARKETING 340159 SSC INC 25 CONTROLS DRIVE SHELTON CT 06484 PUBLIC SAFETY 256433 MMI LLC 855 MAIN STREET SUITE 905 BRIDGEPORT CT 06604 CUSTODIAL SERVICES 210344 JENZABAR INC 101 HUNTINGTON AVENUE SUITE 2200 BOSTON MA 02199 DATABASE ADMIN. 179333 12 765766 765766 TUITION AND FEES 611310 20550924 20550924 20550924 377286 377286 9380726 9893399 -512673 -512673 -512673 MISCELLANEOUS INCOME 900099 31613 31613 31613 21212916 20550924 0 -103774 658286 658286 1327130 587790 739340 10183971 9397278 612521 174172 190640 158663 30816 1161 1111930 927004 178213 6713 829835 691141 133660 5034 79259 79259 155735 155735 6672 6672 1190214 601369 462638 126207 975565 682539 281443 11583 104364 19774 84240 350 705698 493731 203588 8379 1373461 810307 549606 13548 45213 42985 2228 19573 12938 4029 2606 183765 128568 53015 2182 434041 303669 125217 5155 128231 128231 SUPPLIES 1081524 1061337 20187 DUES AND MEMBERSHIPS 54982 20289 32171 2522 STUDENT ACTIVITIES 37961 37961 ACCREDITATION 18525 18525 83487 28693 35876 18918 20980062 16682847 3918685 378530 8591130 9148271 3102965 9538404 8430 176805 424178 761983 551529 517652 15591222 4456127 11410702 11135095 17731028 10520975 3952208 4546125 482461 435968 0 91478 46254631 46872756 1421261 1702730 3359735 2760102 7329158 7060460 664703 756181 12774857 12279473 X 29835457 30068092 3644317 4525191 33479774 34593283 46254631 46872756 232854 880655 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7424595 262701 707356 -66300 8328352 9540947 375 -1237274 -879453 7424595 7805962 700 1734285 9540947 5678956 2000325 126681 7805962 3342916 2015681 320359 5678956 0.61000 0.19000 0.20000 0 0 2000000 2000000 11443979 2644475 8799504 2141384 1811652 329732 5859 5859 11135095 COMMONFUND MULTI STRATEGY EQUITY FUND 2788488 F COMMONFUND MULTI STRATEGY BOND FUND 1757637 F 4546125 REFUNDABLE GOVERNMENT STUDENT LOANS 664703 LEASE LIABILITIES 91478 756181 X 21435285 880655 -658286 222369 21212916 0 21212916 20321776 0 20321776 658286 658286 20980062 PART V, LINE 4: ENDOWMENT FUNDS ARE PRIMARILY USED FOR SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE IS RECOGNIZED AS A NON-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE COLLEGE RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2023 AND 2022. WITH FEW EXCEPTIONS, THE COLLEGE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM FILING DATE. THE COLLEGE WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED WITH TUITION AND FEES REVENUE ON AUDITED FS -658,286. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED WITH TUITION AND FEES REVENUE ON AUDITED FS 658,286. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE PUBLICIZED ITS POLICY ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES STUDENT FINANCIAL AID FROM FEDERAL AND STATE AGENCIES. THE COLLEGE'S FINANCIAL AID OFFICE MONITORS THE GRANTS AND MAINTAINS THE GRANT RECORDS. SCHEDULE E, LINE 6B: AS A RESULT OF THE CHANGE IN CONTROL ON JUNE 30, 2013, THE COLLEGE PROVIDED TO THE US DEPARTMENT OF EDUCATION ("USDOE") VARIOUS DOCUMENTS FOR THEIR ACCEPTANCE AND APPROVAL IN ORDER TO MAINTAIN CONTINUED ELIGIBILITY IN THE TITLE IV FINANCIAL AID PROGRAMS (THE "PROGRAM"). THE USDOE HAD NOTIFIED THE COLLEGE THAT THE SUBMISSION WAS INCOMPLETE AND AS A RESULT, THE USDOE STATED THAT THE COLLEGE LOST INSTITUTIONAL ELIGIBILITY TO PARTICIPATE IN THE PROGRAM. MANAGEMENT BELIEVED THE APPLICABLE REQUIREMENTS WERE PROPERLY MET. REINSTATEMENT OF ELIGIBILITY IN THE PROGRAM WAS CONTINGENT UPON THE USDOE'S ACCEPTANCE OF THE SUBMISSION OF THE COLLEGE'S AUDITED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND AN APPROVED LETTER OF CREDIT. THE COLLEGE WAS REINSTATED BY THE USDOE IN THE PROGRAM ON NOVEMBER 27, 2013. 1 STUDENT FINANCIAL AID & SCHOLARSHIPS 305 0 658286 FMV ALL GRANTS ARE FOR FINANCIAL ASSISTANCE TO ATTEND LABOURE COLLEGE PART I, LINE 2: THE FINANCIAL AID DEPARTMENT ISSUES AND MONITORS STUDENT FINANCIAL AID AWARDS. THE FINANCE DIVISION MONITORS THE SCHOLARSHIPS AND DISCOUNTS REFLECTED ON STUDENT BILLING. STUDENT AID IS AWARDED BASED ON MEETING ESTABLISHED CRITERIA WHICH INCLUDE ACADEMIC ACHIEVEMENT AND FINANCIAL NEED. X X 0 0 0 0 0 0 0 0 0 LILY S HSU EDD PRESIDENT 373120 0 0 0 2374 0 9833 0 20654 0 405981 0 0 0 MARILYN GARDNER VP OF INSTITUTIONAL EXCELLENCE 193806 0 0 0 3851 0 9072 0 25953 0 232682 0 0 0 WILLIAM MCDONALD VP OF FINANCE AND ADMINISTRATION 196635 0 0 0 804 0 5976 0 10431 0 213846 0 0 0 JO ANNE FOLEY ASSOCIATE PROFESSOR 188598 0 0 0 1643 0 0 0 18784 0 209025 0 0 0 KATELYN DWYER EXEC DIRECTOR OF COMMUNICATIONS & DEVELOPMENT 172251 0 0 0 221 0 5410 0 25845 0 203727 0 0 0 JUSTIN G ROY VP OF ENROLLMENT & MARKETING (THRU 11/23/22) 174280 0 0 0 187 0 5241 0 18831 0 198539 0 0 0 MARIA ALTOBELLO VP OF ACADEMIC & STUDENT AFFAIRS 185265 0 0 0 804 0 6981 0 1766 0 194816 0 0 0 KELLY ERRICO ADJUNCT PROFESSOR 142750 0 0 0 185 0 9414 0 25496 0 177845 0 0 0 ERIC J BUONACCORSI ASSISTANT PROFESSOR, NURSING 147224 0 0 0 342 0 2326 0 18519 0 168411 0 0 0 KAREN MANNING DEAN, DIVISION OF NURSING 136347 0 0 0 1051 0 4017 0 25155 0 166570 0 0 0 BONNIE ZAPOLIN ASSISTANT PROFESSOR, NURSING 151698 0 0 0 462 0 2576 0 3441 0 158177 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY 043431814 000000000 2021-04-30 7781800 SEE PART VI 0 0 0 A 587457 7781800 121088 7660712 2021 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, COLUMN F: THE BOND ISSUE WAS USED TO REFINANCE THE ORIGINAL BOND THAT WAS ISSUED IN 07/18/2013. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT, IT IS THEN DISTRIBUTED TO THE FINANCE COMMITTEE AND SUBSEQUENTLY THE FULL BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT ANNUALLY GATHERS RESPONSES AND MONITORS COMPLIANCE. THE PRESIDENT, VICE PRESIDENTS, AND DIRECTORS MUST PROVIDE A STATEMENT IDENTIFYING ANY CONFLICT OF INTEREST. ANY INDIVIDUAL WHO HAS A CONFLICT OF INTEREST CANNOT PARTICIPATE IN DECISIONS RELATED TO THE CONFLICT UNTIL THE END OF THE CONFLICT OF INTEREST. THE PRESIDENT PERFORMS THE REVIEW AND DETERMINES WHETHER CONFLICTS EXIST. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, DIRECTORS OF THE COLLEGE BOARD REVIEW AND DETERMINE THE COMPENSATION OF THE COLLEGE PRESIDENT. ON AN ANNUAL BASIS, THE PRESIDENT PERFORMS AN ANNUAL REVIEW OF COMPENSATION OF OFFICERS. THE REVIEW INCLUDES COMPARISON TO INDUSTRY DATA, INDIVIDUAL PERFORMANCE DATA, INCREASES PROVIDED TO OTHER EMPLOYEES, AND OTHER FACTORS. THE BOARD DETERMINES THE COMPENSATION OF OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE FORM 990 IS AVAILABLE VIA CANDID (FKA GUIDESTAR) AND MASSACHUSETTS ATTORNEY GENERAL'S OFFICE WEBSITES.