2024-05-10T10:23:18-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2022-07-01 042121659 WORCESTER POLYTECHNIC INSTITUTE WORC 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 MICHAEL HORAN EXECUTIVE VP & CFO 5088315000 2024-05-10 1 MICHAEL HORAN XXX-XX-XXXX 0 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JINLIU WANG 100 INSTITUTE ROAD WORCESTER MA 01609 463941563 0 X WWW.WPI.EDU X 1865 MA WORCESTER POLYTECHNIC INSTITUTE WAS FOUNDED IN 1865 TO CREATE AND CONVEY (CONTINUED ON SCHEDULE O)THE LATEST SCIENCE AND ENGINEERING KNOWLEDGE IN WAYS THAT ARE MOST BENEFICIAL FOR SOCIETY. 31 30 4445 225 2713435 0 25922762 23070174 414335622 425741934 4296051 13559221 317211 300852 444871646 462672181 131407562 137912773 0 0 176218032 192857975 166030 224389 8597072 137704672 152028273 445496296 483023410 -624650 -20351229 1250809748 1319474615 485190259 520187087 765619489 799287528 X THE UNIVERSITY 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. (CONT. ON SCH O) 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. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML) 0 0 340575019 128642002 382039615 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 5,250 UNDERGRADUATE AND 2,050 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 2,300 STUDENTS. DURING FISCAL YEAR 2023, THE UNIVERSITY AWARDED 1,088 BACHELOR, 785 MASTER AND 88 PHD DEGREES. STUDENTS EMERGE FROM THE UNIVERSITY'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 LIVES. 54865742 9270771 43702319 AT THE UNIVERSITY, 239 FACULTY AND POST DOC RESEARCHERS, AND 554 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A VARIETY OF SOURCES, PRIMARILY FROM GOVERNMENTAL ORGANIZATIONS SUCH AS THE NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES. RESEARCH AT THE UNIVERSITY 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. 395440761 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 7594 0 1 4445 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 31 30 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X MICHAEL HORAN 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 JINLIU WANG PRESIDENT (AS OF 04/2023) 40.00 1.00 X X 0 0 0 WINSTON SOBOYEJO INT. PRES(THRU 04/2023)/PROVOST 40.00 1.00 X X 726939 0 91601 WILLIAM FITZGERALD CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 JOYCE KLINE VICE CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 FRANCESCA MALTESE VICE CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 MICHAEL ASPINWALL TRUSTEE 2.00 0.00 X 0 0 0 JAMES BAUM TRUSTEE 2.00 0.00 X 0 0 0 LORRAINE BOLSINGER TRUSTEE 2.00 0.00 X 0 0 0 LINWOOD BRADFORD TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL DOLAN TRUSTEE 2.00 0.00 X 0 0 0 MARNI HALL TRUSTEE 2.00 0.00 X 0 0 0 ROBERT HART TRUSTEE 2.00 0.00 X 0 0 0 JEREMY HITCHCOCK TRUSTEE 2.00 0.00 X 0 0 0 STUART KAZIN TRUSTEE 2.00 0.00 X 0 0 0 CARL KILMER TRUSTEE 2.00 0.00 X 0 0 0 DAVID LAPRE TRUSTEE 2.00 0.00 X 0 0 0 CARLEEN MARTLAND TRUSTEE 2.00 0.00 X 0 0 0 ERICA MASON TRUSTEE 2.00 0.00 X 0 0 0 MAUREEN MCCAFFREY TRUSTEE 2.00 0.00 X 0 0 0 PAMELA MCCAULEY TRUSTEE 2.00 0.00 X 0 0 0 NEIL MCDONOUGH TRUSTEE 2.00 0.00 X 0 0 0 LINDA MCGOLDRICK TRUSTEE 2.00 0.00 X 0 0 0 PATRICIA NEWCOMER-SMALL TRUSTEE 2.00 0.00 X 0 0 0 GEORGE OLIVER TRUSTEE 2.00 0.00 X 0 0 0 MARK O'NEIL TRUSTEE (THRU 07/2022) 2.00 0.00 X 0 0 0 KAREN TEGAN PADIR TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH PHELAN TRUSTEE 2.00 0.00 X 0 0 0 MARK RUSSELL TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN RUSCKOWSKI TRUSTEE 2.00 0.00 X 0 0 0 NAVJOT SINGH TRUSTEE 2.00 0.00 X 0 0 0 JOAN BOLDUC SZKUTAK TRUSTEE 2.00 0.00 X 0 0 0 MYLES WALTON TRUSTEE 2.00 0.00 X 0 0 0 DOROTHEA WONG TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH CLAPP ASSOC TREAS. & CONTROLLER 40.00 1.00 X 115361 0 24382 DAVID BUNIS SECRETARY & GENERAL COUNSEL 40.00 0.00 X 571132 0 30099 MICHAEL HORAN TREASURER, EXECUTIVE VP & CFO 40.00 1.00 X 476179 0 52468 KYLE SIEGEL AVP, CHIEF OF STAFF & DEP. SECR. 40.00 0.00 X 149602 0 36456 PHILIP CLAY VP STUDENT AFFAIRS 40.00 0.00 X 397128 0 40069 AMY MORTON VP & CHIEF OF STAFF (THRU 07/2022) 40.00 0.00 X 432343 0 32529 ARTHUR HEINRICHER INT. PROVOST (THRU 04/2023)/DEAN UG STUDIES 40.00 0.00 X 317572 0 38932 LAUREN TURNER SVP TALENT & INCLUSION, CDO 40.00 0.00 X 425092 0 55862 JOHN MCNEIL DEAN OF ENGINEERING 40.00 0.00 X 379855 0 55325 LAURIE LESHIN FORMER PRESIDENT 0.00 0.00 X 1146542 0 62638 JEAN KING DEAN OF ARTS & SCIENCES 40.00 0.00 X 393592 0 54515 DONNA STOCK VP UNIVERSITY ADVANCEMENT 40.00 0.00 X 376760 0 43496 JEFFREY SOLOMON FORMER TREAS, EXEC VP, CFO 0.00 0.00 X 276084 0 0 BRUCE BURSTEN CHEMISTRY PROFESSOR 40.00 0.00 X 205723 0 29712 6389904 0 648084 456 1 1 0 CONSIGLI CONSTRUCTION COMPANY INC 72 SUMNER STREET MILFORD MA 01757 CONSTRUCTION 11330242 SHAWMUT DESIGN & CONSTRUCTION 560 HARRISON AVENUE BOSTON MA 02118 CONSTRUCTION 8750106 CUTLER ASSOCIATES INC 43 HARVARD STREET WORCESTER MA 01609 CONSTRUCTION 2353546 SOLVUS GLOBAL LLC 104 PRESCOTT STREET WORCESTER MA 01605 CONSULTING 1685283 BUILDER SYSTEMS INC 135 SOUTHBRIDGE ST AUBURN MA 01501 MAINTENANCE-CARPENTRY 1497645 106 1500000 21570174 1789126 23070174 TUITION AND FEES 611710 329797351 329797351 SPONSORED RESEARCH 611710 43702319 43702319 AUXILIARY OPERATIONS 611710 41255648 41255648 OTHER OPER. SOURCES 611710 8016969 8016969 OTHER EDUC. OPERATIONS 611710 2969647 2814219 155428 425741934 13565803 2558007 11007796 174837 174837 1262800 1269382 -6582 -6582 -6582 GAIN INT RATE AGREEMNT 900099 126015 126015 126015 462672181 425586506 2713435 11302066 7895804 7895804 128641150 128641150 1375819 1375819 3385048 589792 2401471 393785 470164 432581 37583 151163802 115281206 31163050 4719546 10495424 7892479 2257020 345925 18269711 10260420 7037752 971539 9073826 6823448 1951308 299070 977963 36310 941060 593 415747 90498 324600 649 183264 183264 224389 224389 1249031 1249031 21007818 18341971 2611472 54375 2166816 1697561 437294 31961 4688200 3144517 1434579 109104 9299900 2182581 6845417 271902 11065926 9551845 1379460 134621 7825107 7163407 540827 120873 3144615 2373203 704397 67015 14943087 11985844 2736649 220594 36634334 30265929 5925156 443249 1535196 143661 1391399 136 REPAIRS AND MAINTENANCE 15475397 14819409 636699 19289 LAB EQUIPMENT/SUPPLIES 10705024 8579430 2012400 113194 RESEARCH AND TRAINING 3798925 3283140 508227 7558 BOOKS AND PERIODICALS 2977272 66839 2905647 4786 3934651 2521917 1369815 42919 483023410 395440761 78985577 8597072 9011904 10891223 32927269 38738013 10737226 3780747 16071923 16581223 9637273 10004607 919042276 400523542 505978522 518518734 109808279 164550268 530906469 539936441 25730883 16473359 1250809748 1319474615 30727668 28027077 11491013 11900772 334437037 319284987 194552 205179 60591569 76629920 47748420 84139152 485190259 520187087 X 348631068 350722767 416988421 448564761 765619489 799287528 1250809748 1319474615 X -20351229 53633935 385333 X 0 1 X 1 1 1 X 21267550 33087495 32507077 25922762 23070174 135855058 21267550 33087495 32507077 25922762 23070174 135855058 8155565 127699493 7215285 6508829 4350643 6808581 11182633 36065971 38254 2102514 2140768 22800 26371 49171 174110968 1897283329 0.73340 0.74470 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM GAMING - 2018 AMOUNT: $ 22,800. 2019 AMOUNT: $ 26,371. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 183264 183264 482840146 483023410 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 236805 189030 185294 183264 794393 250000 250000 250000 250000 1000000 1500000 SCHEDULE C, PART II-A, LINE 1B: LOBBYING EXPENDITURES ARE FOR THE PURPOSE OF IDENTIFYING FUNDING OPPORTUNITIES AT THE FEDERAL AND STATE LEVEL TO SUPPORT EDUCATIONAL AND RESEARCH PROGRAMS AND TO DEVELOP STRATEGIC RESEARCH PARTNERSHIPS WITH GOVERNMENT ORGANIZATIONS. X X 0 587107058 7970966 59079208 10282412 15109512 628765308 630915527 12869512 -31950308 9825960 14901713 587107058 484367049 10106274 160615648 9447238 14726206 630915527 508521354 4302473 -9351199 9007430 10098149 484367049 500270617 9366879 21649079 8986726 13778495 508521354 0.39100 0.25700 0.35200 0 0 22759720 22759720 717189254 276064748 441124506 20815568 19755176 1060392 150717014 104703618 46013396 7560720 7560720 518518734 EQUITY FUNDS 327953365 F PRIVATE EQUITY FUNDS 100882757 F FIXED INCOME FUNDS 66537591 F REAL ESTATE 44562728 F 539936441 OPERATING LEASE LIABILITIES 67747630 SPLIT INTEREST RATE AGREEMENTS 5482039 FUNDS HELD FOR OTHERS 5380674 REFUNDABLE GOVERNMENT LOAN FUNDS 2526625 INTEREST RATE AGREEMENTS 1874564 ASSET RETIREMENT OBLIGATIONS 1127620 84139152 X PART III, LINE 1A: DUE TO THE IMMATERIALITY OF THE UNIVERSITY'S COLLECTIONS OF ART OR HISTORICAL TREASURES, THESE ASSETS ARE NOT DISCLOSED IN THE FINANCIAL STATEMENTS. PART III, LINE 4: THE UNIVERSITY 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. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE PROGRAMS OF THE UNIVERSITY, INCLUDING SCHOLARSHIPS, FACULTY TEACHING AND RESEARCH, LIBRARY RESOURCES, AND MAINTENANCE. THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT AND SIMILAR FUNDS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE UNIVERSITY RELIES ON A TOTAL RETURN APPROACH IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED GAINS) AND CURRENT YIELD. TO ACHIEVE ITS LONG-TERM OBJECTIVES WITHIN PRUDENT RISK PARAMETERS, THE UNIVERSITY TARGETS A DIVERSIFIED ASSET ALLOCATION. THE UNIVERSITY OBSERVES A SPENDING RULE WITH RESPECT TO TOTAL RETURN (INTEREST, DIVIDENDS, AND APPRECIATION) ON INVESTMENTS OF THE ENDOWMENTS AND SIMILAR FUNDS. UNDER THE SPENDING RULE, THE UNIVERSITY APPROPRIATED 4.6% OF ITS ENDOWMENT AND SIMILAR FUNDS' AVERAGE UNIT FAIR VALUE FOR THE PREVIOUS TWELVE QUARTERS, ONE YEAR REMOVED, FOR THE YEAR ENDED JUNE 30, 2023. PART X, LINE 2: 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 STATEMENT OF FINANCIAL POSITION OR THE RELATED CONSOLIDATED STATEMENTS OF ACTIVITIES OR CASH FLOWS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY MAKES ITS ANTI-DISCRIMINATION POLICY KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A NOTICE OF NON-DISCRIMINATION ON ITS WEBSITE, AND IN ALL BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. (CONTINUED BELOW LINE 6) SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN THE FORM OF 34A TITLE IV AID. LINE 3 - NONDISCRIMINATION POLICY CONTINUED: IT IS THE POLICY OF THE UNIVERSITY TO PROVIDE EACH QUALIFIED INDIVIDUAL - REGARDLESS OF RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS - THE OPPORTUNITY TO PARTICIPATE IN THE UNIVERSITY'S EDUCATIONAL AND EMPLOYMENT PROGRAMS AND ACTIVITIES, INCLUDING ADMISSIONS, IN A DISCRIMINATION AND HARASSMENT-FREE ENVIRONMENT, IN ACCORDANCE WITH STATE AND FEDERAL LAWS, INCLUDING TITLE VI AND TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, SECTION 504 OF THE REHABILITATION ACT OF 1973, TITLE IX OF THE EDUCATION AMENDMENTS OF 1972, AND THE AGE DISCRIMINATION ACT OF 1975, AND THEIR RESPECTIVE IMPLEMENTING REGULATIONS. FURTHERMORE, THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE UNLAWFUL DISCRIMINATION OR HARASSMENT. UNLAWFUL DISCRIMINATION OR HARASSMENT CONSISTS OF TREATING A PERSON DIFFERENTLY IN ANY UNIVERISTY PROGRAM OR ACTIVITY BASED ON THEIR RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS. THIS INCLUDES, FOR EXAMPLE, THE DISPLAY OR CIRCULATION OF WRITTEN OR ELECTRONIC MATERIALS OR PICTURES DEGRADING TO A PERSON'S GENDER OR TO RACIAL, ETHNIC, OR RELIGIOUS GROUPS; AND VERBAL ABUSE OR INSULTS DIRECTED AT OR MADE IN THE PRESENCE OF MEMBERS OF A RACIAL, ETHNIC, OR MINORITY GROUP. THE UNIVERSITY WILL ADMINISTER ANY COMPLAINT OF DISCRIMINATION OR HARASSMENT WITH THE UTMOST DEGREE OF PRIVACY AND CONFIDENTIALITY POSSIBLE UNDER THE CIRCUMSTANCES OF EACH MATTER AND AS PERMITTED BY LAW. FAILURE OF ANY PARTICIPANT TO RESPECT CONFIDENTIALITY, BOTH DURING OR AFTER AN INVESTIGATION PROCESS, MAY CONSTITUTE RETALIATION AND SUBJECT THE VIOLATOR TO DISCIPLINE. THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE ANY FORM OF RETALIATION AGAINST PERSONS WHO HAVE COMPLAINED ABOUT, OR PARTICIPATED IN AN INVESTIGATION OF A COMPLAINT ABOUT, UNLAWFUL DISCRIMINATION OR HARASSMENT. THE UNIVERSITY WILL MAKE AN INDEPENDENT INQUIRY INTO COMPLAINTS OF UNLAWFUL DISCRIMINATION AND HARASSMENT, ACCORDING TO APPLICABLE UNIVERSITY POLICIES AND PROCEDURES, AND VIOLATIONS BY STUDENTS/EMPLOYEES WILL BE SUBJECT TO DISCIPLINARY ACTION, INCLUDING SUSPENSION, EXPULSION, OR TERMINATION, WHERE APPROPRIATE. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 2 PROGRAM SERVICES SEE PART V 259706 EAST ASIA AND THE PACIFIC 0 3 PROGRAM SERVICES SEE PART V 688645 EUROPE (INCLUDING ICELAND & GREENLAND) 0 4 PROGRAM SERVICES SEE PART V 1183943 MIDDLE EAST AND NORTH AFRICA 0 2 PROGRAM SERVICES SEE PART V 370328 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES SEE PART V 175820 SOUTH AMERICA 0 2 PROGRAM SERVICES SEE PART V 112291 SOUTH ASIA 0 0 PROGRAM SERVICES SEE PART V 29597 SUB-SAHARAN AFRICA 0 1 PROGRAM SERVICES SEE PART V 344421 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 87226832 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 11450522 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 27978 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 693319 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 43523 SOUTH AMERICA 0 0 GRANTMAKING 221880 NORTH AMERICA - CANADA AND MEXICO 0 0 GRANTMAKING 238711 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 150409 0 14 0 0 0 14 3164751 100053174 103217925 SOUTH AMERICA RESEARCH 99536 0 NORTH AMERICA - CANADA AND MEXICO RESEARCH 127067 0 MIDDLE EAST AND NORTH AFRICA RESEARCH 43523 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 58220 0 SOUTH AMERICA RESEARCH 122344 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 115277 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 515322 0 NORTH AMERICA RESEARCH 111643 0 EAST ASIA AND THE PACIFIC RESEARCH 150409 0 8 1 PROJECT SUPPORT SUB-SAHARAN AFRICA 3 27978 CHECK PROJECT SUPPORT EUROPE (INCLUDING ICELAND & GREENLAND) 180 4500 180 ROBOTIC KITS FAIR MARKET VALUE 1 0 1 1 1 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS: THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH THE OFFICE OF SPONSORED PROGRAMS (OSP), THE OFFICE OF RESEARCH INTEGRITY AND COMPLIANCE (ORIC), AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND NON-FINANCIAL POST-AWARD ACTIVITIES. ORIC IS RESPONSIBLE FOR COMPLIANCE, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS, REVENUE AND RECEIVABLES, AND PREPARATION AND SUBMISSION OF FINANCIAL REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS : THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDENTS. 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. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. PART I, LINE 3: FOREIGN EXPENDITURES ARE SEPARATELY IDENTIFIED IN THE INSTITUTE'S BOOKS AND RECORDS. 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RESEARCH JOHN HOPKINS UNIVERSITY 733 N BROADWAY BALTIMORE MD 21205 520595110 501(C)(3) 10033 0 RESEARCH LESLEY UNIVERSITY 29 EVERETT ST CAMBRIDGE MA 02138 042103589 501(C)(3) 208114 0 RESEARCH MAINSTREAM ENGINEERING CORPORATION 200 YELLOW PLACE ROCKLEDGE FL 32955 592744408 38977 0 RESEARCH MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVE CAMBRIDGE MA 02139 042103594 501(C)(3) 187006 0 RESEARCH MCPHS UNIVERSITY 179 LONGWOOD AVE BOSTON MA 02115 042104700 501(C)(3) 11100 0 RESEARCH MICHIGAN TECHNOLOGICAL UNIVERSITY 1400 TOWNSEND DRIVE HOUGHTON MI 49931 386005955 115 93070 0 RESEARCH MICROVAST INC 12603 SOUTHWEST FWY STE 210 STAFFORD TX 77477 205704672 28274 0 RESEARCH NC A&T STATE UNIVERSITY 1601 EAST MARKET ST GREENSBORO NC 27411 566000007 115 31310 0 RESEARCH NEW MEXICO CONSORTIUM INC 4200 WEST JEMEZ RD SUITE 301 LOS ALAMOS NM 87544 260370262 501(C)(3) 6526 0 RESEARCH NEW YORK UNIVERSITY 105 EAST 17TH ST 2ND FLOOR NEW YORK NY 10003 135562308 501(C)(3) 64057 0 RESEARCH PURDUE UNIVERSITY 2200 169TH STREET HAMMOND IN 46323 356002041 501(C)(3) 151585 0 RESEARCH QUINSIGAMOND COMMUNITY COLLEGE 670 WEST BOYLSTON STREET WORCESTER MA 01606 042492727 115 23213 0 RESEARCH RECTOR AND VISITORS UNIV OF VIRGINIA 210 SPRIGG LN CHARLOTTESVILLE VA 22903 546001796 501(C)(3) 129658 0 RESEARCH REGENTS OF UNIV OF CALIF AT IRVINE 228 ALDRICH HALL IRVINE CA 926971050 952226406 501(C)(3) 432054 0 RESEARCH RICE UNIVERSITY PO BOX 1892 MS 16 HOUSTON TX 77251 741109620 501(C)(3) 32923 0 RESEARCH SAN JOSE STATE UNIV RESEARCH FOUNDATION 210 N FOURTH ST 4TH FLOOR SAN JOSE CA 95112 946017638 501(C)(3) 18131 0 RESEARCH SOLVUS GLOBAL LLC 104 PRESCOTT ST WORCESTER MA 01605 842524070 16368 0 RESEARCH SYRACUSE UNIVERSITY 640 SKYTOP ROAD SYRACUSE NY 13244 150532081 501(C)(3) 56960 0 RESEARCH TALL TIMBERS RESEARCH INC 13093 HENRY BEADEL DRIVE TALLAHASSEE FL 32312 590952956 14887 0 RESEARCH TEMPLE UNIVERSITY 1947 N 12TH ST ROOM 815 PHILADELPHIA PA 19122 231365971 501(C)(3) 6258 0 RESEARCH TEXAS A&M ENGINEERING EXPERIMENT STATION MEOB 217 100 MECH ENG OFFICE COLLEGE STATION TX 77843 741974733 501(C)(3) 85071 0 RESEARCH TEXAS A&M UNIVERSITY 600 TAMU COLLEGE STATION TX 77843 746000531 501(C)(3) 11489 0 RESEARCH THE OHIO STATE UNIVERSITY 901 WOODY HAYES DR COLUMBUS OH 43210 316025986 501(C)(3) 106226 0 RESEARCH THE PENNSYLVANIA STATE UNIVERSITY 408 OLD MAIN UNIVERSITY PARK PA 16802 246000376 115 20590 0 RESEARCH TRUSTEES UNIVERSITY OF PENNSYLVANIA 3819 CHESTNUT ST SUITE 300 PHILADELPHIA PA 19104 231352685 501(C)(3) 5901 0 RESEARCH UNIV OF MASSACHUSETTS MEDICAL SCHOOL 55 N LAKE AVE WORCESTER MA 01655 043167352 115 55874 0 RESEARCH UNIV OF GEORGIA RESEARCH FOUNDATION INC 310 E CAMPUS ROAD ATHENS GA 30602 581353149 501(C)(3) 9492 0 RESEARCH UNIVERISTY OF INDIANA 107 S INDIANA AVE BLOOMINGTON IN 47405 356001673 115 15887 0 RESEARCH UNIVERSITY OF CALIFORNIA RIVERSIDE 1084 COLUMBIA AVENUE RIVERSIDE CA 92324 956006142 115 73951 0 RESEARCH UNIVERSITY OF CALIFORNIA SAN FRANSISCO 1855 FOLSUM ST SUITE 425 SAN FRANSISCO CA 94143 946036493 501(C)(3) 21435 0 RESEARCH UNIVERSITY OF FLORIDA 207 GRINTER HALL GAINESVILLE FL 32611 596002052 115 129149 0 RESEARCH UNIVERSITY OF ILLINOIS 506 S WRIGHT STREET URBANA IL 61801 037600051 115 247594 0 RESEARCH UNIVERSITY OF MAINE 312 SHIBLES HALL ORONO ME 04469 016000769 115 75349 0 RESEARCH UNIVERSITY OF MARYLAND 7809 REGENTS DRIVE 3112 LEE BLDG COLLEGE PARK MD 20742 526002033 115 44762 0 RESEARCH UNIVERSITY OF MASSACHUSETTS AMHERST 100 VENTURE WAY HADLEY MA 01035 043167352 115 194981 0 RESEARCH UNIVERSITY OF MASSACHUSETTS DARTMOUTH 285 OLD WESTPORT RD DARTMOUTH MA 02747 043167352 115 62925 0 RESEARCH UNIVERSITY OF MASSACHUSETTS LOWELL 220 PAWTUCKET STREET LOWELL MA 01854 043167352 115 509970 0 RESEARCH UNIVERSITY OF MINNESOTA 200 OAK STREET SE MINNEAPOLIS MN 55455 416007513 115 24248 0 RESEARCH WASHINGTON UNIVERSITY 700 ROSEDALE AVE CB 1034 ST LOUIS MO 63112 430653611 501(C)(3) 58185 0 RESEARCH WEST VIRGINIA UNIVERSITY RESEARCH CORP ONE WATERFRONT PLACE PO BX 6005 MORGANTOWN WV 26506 556000842 501(C)(3) 137824 0 RESEARCH WESTAT INC 20 UNIVERSITY ROAD CAMBRIDGE MA 02138 840529566 501(C)(3) 83699 0 RESEARCH WESTED 400 SEAPORT COURT SUITE 222 REDWOOD CITY CA 94063 943233542 501(C)(3) 392232 0 RESEARCH WOODS HOLE OCEANOGRAPHIC INSTITUTION 266 WOODS HOLE ROAD WOODS HOLE MA 02543 042105850 501(C)(3) 30694 0 RESEARCH 50 12 SCHOLARSHIPS 5146 128641150 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS: THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH THE OFFICE OF SPONSORED PROGRAMS (OSP), THE OFFICE OF RESEARCH INTEGRITY AND COMPLIANCE (ORIC), AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND NON-FINANCIAL POST-AWARD ACTIVITIES. ORIC IS RESPONSIBLE FOR COMPLIANCE, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS, REVENUE AND RECEIVABLES, AND PREPARATION AND SUBMISSION OF FINANCIAL REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS: THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDENTS. 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. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. X X X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 LAURIE LESHIN FORMER PRESIDENT 349372 0 450000 0 347170 0 28975 0 33663 0 1209180 0 163163 0 WINSTON SOBOYEJO INT. PRES(THRU 04/2023)/PROVOST 515453 0 130196 0 81290 0 63933 0 27668 0 818540 0 58870 0 DAVID BUNIS SECRETARY & GENERAL COUNSEL 427126 0 142026 0 1980 0 28975 0 1124 0 601231 0 66490 0 MICHAEL HORAN TREASURER, EXECUTIVE VP & CFO 418350 0 51000 0 6829 0 28975 0 23493 0 528647 0 0 0 LAUREN TURNER SVP TALENT & INCLUSION, CDO 370277 0 53000 0 1815 0 27467 0 28395 0 480954 0 0 0 AMY MORTON VP & CHIEF OF STAFF (THRU 07/2022) 159505 0 61348 0 211490 0 19042 0 13487 0 464872 0 29000 0 JEAN KING DEAN OF ARTS & SCIENCES 353795 0 35987 0 3810 0 28975 0 25540 0 448107 0 0 0 PHILIP CLAY VP STUDENT AFFAIRS 307677 0 87471 0 1980 0 28975 0 11094 0 437197 0 29375 0 JOHN MCNEIL DEAN OF ENGINEERING 342875 0 35000 0 1980 0 28975 0 26350 0 435180 0 0 0 DONNA STOCK VP UNIVERSITY ADVANCEMENT 341780 0 33000 0 1980 0 28975 0 14521 0 420256 0 0 0 ARTHUR HEINRICHER INT. PROVOST (THRU 04/2023)/DEAN UG 291084 0 22678 0 3810 0 28009 0 10923 0 356504 0 0 0 JEFFREY SOLOMON FORMER TREAS, EXEC VP, CFO 13000 0 0 0 263084 0 0 0 0 0 276084 0 0 0 BRUCE BURSTEN CHEMISTRY PROFESSOR 196111 0 7402 0 2210 0 18986 0 10726 0 235435 0 0 0 KYLE SIEGEL AVP, CHIEF OF STAFF & DEP. SECR. 149324 0 0 0 278 0 14756 0 21700 0 186058 0 0 0 PART I, LINE 1A THE UNIVERSITY HAS PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING AMOUNTS ARE NOT INCLUDED IN COMPENSATION TAXABLE TO THE EMPLOYEE: THE PRESIDENT MAY FLY FIRST CLASS OR BUSINESS CLASS FOR TRAVEL IN EXCESS OF 3 HOURS. THE INTERIM PRESIDENT HAD ONE FIRST CLASS FLIGHT DURING CALENDAR YEAR 2022. THE UNIVERSITY PROVIDED HOUSING ON CAMPUS TO THE FORMER PRESIDENT THROUGH MAY 2022 AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, INCLUDING HOUSEKEEPING TO MAINTAIN THE APPEARANCE OF THE RESIDENCE FOR UNIVERSITY FUNCTIONS. BEGINNING JULY 2022, ONE OFFICER RESIDED IN UNIVERSITY HOUSING. THE OFFICER PAID RENT DIRECTLY TO THE UNIVERSITY. PART I, LINES 4A-B LINE 4A - IN CONNECTION WITH THE SEPARATION OF TWO LISTED INDIVIDUALS FROM THE INSTITUTE, SEPARATION AGREEMENTS WERE EXECUTED, WHICH INCLUDED THE PAYOUT OF CERTAIN LUMP SUM PAYMENTS, AND CONTINUATION OF SALARY. THE PORTION OF THESE PAYMENTS TAXABLE IN CALENDAR YEAR 2022 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (B)(III). LINE 4B - THE INSTITUTE HAS A LONG TERM INCENTIVE PLAN (LTIP) TO PROVIDE DEFERRED BONUSES TO CERTAIN LISTED INDIVIDUALS. AMOUNTS PAID UNDER THE LTIP IN 2022 ARE INCLUDED ON SCHEDULE J, COLUMN (B)(II). ADDITIONAL DETAILS REGARDING THE PLAN ARE INCLUDED IN RESPONSE SCHEDULE J, PART I, LINE 7. NO AMOUNTS WERE CONTRIBUTED TO THE PLAN IN CALENDAR YEAR 2022. ONE OFFICER IS SUBJECT TO A DEFERRED BONUS ARRANGEMENT. AMOUNTS ACCRUED UNDER THE ARRANGEMENT ARE INCLUDED IN SCHEDULE J, PART II, COLUMN C. PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES HAS A PAY-FOR-PERFORMANCE COMPENSATION PHILOSOPHY IN DETERMINING EXECUTIVE COMPENSATION. A PLAN THAT IS PART OF THE PHILOSOPHY IS THE EXECUTIVE INCENTIVE COMPENSATION PLAN. EXECUTIVES ARE ELIGIBLE FOR PERFORMANCE-BASED PAY. THE PAYMENT OF A PERFORMANCE BONUS IS DEPENDENT UPON ACHIEVEMENT OF DEFINED GOALS AND OBJECTIVES, APPROVED BY THE PRESIDENT AND COMPENSATION COMMITTEE. THE PRESIDENT MAY RECEIVE A PERFORMANCE-BASED INCENTIVE SUBJECT TO THE TERMS AND PROVISIONS LISTED IN THE CONTRACT. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RTX3 2008-04-09 48995000 REFUNDING OF SERIES 2003&2005 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2014-08-28 4622000 RENOVATIONS OF EXISTING FACILITIES 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584XPK1 2016-06-21 49030491 REFUNDING OF SERIES 2007 BONDS 0 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584X2E0 2017-10-03 16911534 REFUNDING OF SERIES 2007 BONDS 0 0 0 A 17650000 48995000 325962 19038 48650000 2008 1 0 1 1 B 1532000 4622000 61330 4560670 2016 0 0 1 1 C 4250000 49030491 471314 48559177 2016 0 1 1 1 D 2040000 16911534 288239 16623295 2017 1 0 1 1 A 0 1 1 1 1 1 0.04190 0.04190 0 0 1 B 0 0 0 0 0 0 1 C 0 1 1 1 0 0.00330 0.00330 0 0 1 A 0 0 0 1 1 1 DEUTSCHE & BARCLAYS 19.000000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, COLUMN F: BOND ISSUE A (SERIES 2008A) WAS USED TO REFUND SERIES 2003 AND 2005 WHICH WERE ISSUED JULY 20, 2003 AND AUGUST 3, 2005, RESPECTIVELY. BOND ISSUE C (SERIES 2016) WAS USED TO REFUND SERIES 2007 WHICH WAS ISSUED JUNE 28, 2007. BOND ISSUE D (SERIES 2017A) WAS USED TO REFUND A PORTION OF SERIES 2007, WHICH WAS ISSUED IN JUNE 28, 2007, THAT WAS ALLOCATED TO REFUND SERIES 1997-I, WHICH WAS ISSUED ON MARCH 20, 1997. BOND ISSUE A (SERIES 2017B) WAS USED TO REFUND SERIES 2010 WHICH WAS ISSUED JANUARY 27, 2010. BOND ISSUE B (SERIES 2019) WAS USED TO FUND VARIOUS CAPITAL PROJECTS. BOND ISSUE C (SERIES 2022) WAS USED TO REFUND SERIES 2012 WHICH WAS ISSUED OCTOBER 30, 2012. SCHEDULE K, PART III, LINE 3: FOR BOND ISSUE A (SERIES 2017B), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $1,345,180. FOR BOND ISSUE B (SERIES 2019), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $982,697. SCHEDULE K, PART III, COLUMN D: THE SERIES 2017A ISSUE REFUND A PORTION OF SERIES 2007 ISSUE ALLOCATED TO REFUNDING THE 1997 ISSUE, ORIGINALLY ISSUED ON MARCH 20, 1997. SINCE THIS IS THE ONLY PURPOSE OF SERIES 2017A, THIS ISSUE IS EXEMPT FROM REPORTING ON PART III OF SCHEDULE K. SCHEDULE K, PART III, LINE 6, COLUMN A: THE UNIVERSITY ACTIVELY MONITORS THE PRIVATE BUSINESS USE PERCENTAGE FOR EACH OF THEIR ISSUES, WHILE THE 2008A'S PERCENTAGE IS INCREASED THIS YEAR, THE OVER THE LIFE PERCENTAGE FOR THE ISSUE WILL STILL BE UNDER THE 5% LIMITATION FOR THE ISSUE. SCHEDULE K, PART IV, LINE 2C: FOR BOND A (SERIES 2008A) A REBATE CALCULATION WAS PERFORMED ON 8/31/2018, FOR BOND B (SERIES 2014), A REBATE CALCULATION WAS PERFORMED ON 10/7/2016, FOR BOND C (SERIES 2016) A REBATE CALCULATION WAS PERFORMED ON 6/8/2021, FOR BOND D (SERIES 2017A), A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022 AND FOR BOND A (SERIES 2017B) A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YAP4 2017-12-28 61875371 REFUNDING OF SERIES 2010 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YVR7 2019-09-26 135463087 VARIOUS CAPITAL PROJECTS 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2022-06-09 42540000 REFUNDING OF SERIES 2012 0 0 0 A 4745000 61875371 546236 61329135 2017 0 1 1 1 B 95000 136445784 12401694 912875 123131215 2022 0 0 0 1 C 983000 42540000 42540000 2022 1 0 1 1 A 0 0 0 0 0.00230 0.00230 0 0 1 B 0 0 0 0 0.00030 0.00030 0 0 1 C 0 1 1 1 0 0.00970 0.00970 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 X 43 1272205 FAIR MARKET VALUE X 2 31000 FAIR MARKET VALUE X SUPPLIES/EQUIP 22 485921 FAIR MARKET VALUE 5 0 1 0 PART I, LINE 32B: THE NUMBER OF CONTRIBUTIONS IS DISCLOSED IN COLUMN B. FORM 990, PART I, LINE 20: THE UNIVERSITY IS FILING FORM 990 BASED ON ITS CONSOLIDATED FINANCIAL STATEMENT NUMBERS. THE UNIVERSITY FEELS THIS IS MORE TRANSPARENT TO THE PUBLIC AND GIVES MORE ACCURATE INFORMATION ON ITS OPERATIONS AS OPPOSED TO CARVING OUT ITS SUBSIDIARIES LISTED BELOW. BOTH ORGANIZATIONS ALSO FILE FORM 990 SEPARATELY. FOR THE FISCAL YEAR ENDED JUNE 30, 2023, WASHBURN PARK INC HAD NET ASSETS OF -$5,655,690; REVENUE OF $521,755; AND EXPENSES OF $2,037,096. ADDITIONALLY, ASSISTMENTS FOUNDATION HAD NET ASSETS OF $723,416; REVENUE OF $3,337,284; AND EXPENSES OF $4,174,888. ON JUNE 28, 2023 WASHBURN PARK TRANSFERRED THE LAND, OFFICE BUILDING AND GARAGE FACILITY TO ITS PARENT ORGANIZATION, WORCESTER POLYTECHNIC INSTITUTE. FORM 990, PART V, LINE 1A: THE 7,594 REPORTED ON THIS LINE INCLUDES THE FOLLOWING: 1098-T'S: 6,721 1099 NEC: 435 1099 MISC: 433 1099-K'S: 5 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS GEORGE OLIVER, MARK RUSSELL AND DOROTHEA WONG HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. MANAGEMENT REVIEWS THE COMPLETED FORM 990 WITH THE TAX ADVISORS. THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, MANAGEMENT PROVIDES THE FORM 990, WITH THE EXCEPTION OF THE NAME AND ADDRESS OF THE DONORS LISTED ON SCHEDULE B, TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, ALL UNIVERSITY TRUSTEES, OFFICERS, AND KEY LEADERS (INCLUDING "KEY EMPLOYEES," AS DEFINED UNDER IRS RULES) ARE REQUIRED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT, IN WHICH THEY AFFIRM THAT: (A) THEY HAVE RECEIVED A COPY OF THE UNIVERSITY CONFLICT OF INTEREST POLICY; (B) THEY HAVE READ, UNDERSTAND AND AGREE TO COMPLY WITH THE UNIVERSITY CONFLICT OF INTEREST POLICY; (C) THEY UNDERSTAND THAT THE UNIVERSITY, AS A TAX-EXEMPT ORGANIZATION, MUST RESTRICT ITS ACTIVITIES PRIMARILY TO THOSE FOR WHICH ITS TAX-EXEMPT STATUS WAS GRANTED; AND (D) THE INFORMATION PROVIDED IN THE DISCLOSURE STATEMENT IS TRUE AND CORRECT TO THE BEST OF THEIR KNOWLEDGE. ADDITIONALLY, AS PART OF THE ANNUAL DISCLOSURE STATEMENT PROCESS, TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST, OR POTENTIAL CONFLICTS OF INTEREST, BASED ON THE QUESTIONS CONTAINED IN THE DISCLOSURE STATEMENT. AS MORE FULLY DESCRIBED IN THE CONFLICT OF INTEREST POLICY, THERE IS A WELL-DEFINED PROCESS FOR THE COLLECTION AND REVIEW OF RESPONSES TO THE ANNUAL DISCLOSURE STATEMENT BY THE OFFICE OF GENERAL COUNSEL AND THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES. IF, BASED ON THE DISCLOSURES, ANY CONFLICT MANAGEMENT PLANS ARE WARRANTED, THEY ARE DRAFTED BY THE OFFICE OF GENERAL COUNSEL, REVIEWED AND APPROVED BY THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES, AND SIGNED BY THE DISCLOSER. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE UNIVERSITY'S PRESIDENT AND OTHER TOP MANAGEMENT IS MODELED AFTER THE REQUIREMENTS IN FEDERAL REGULATIONS 53.4958-6(A), REBUTTABLE PRESUMPTION THAT A TRANSACTION IS NOT AN EXCESS BENEFIT TRANSACTION, TO ESTABLISH THE PRESUMPTION OF REASONABLE COMPENSATION. COMPENSATION IS REVIEWED AND APPROVED BY THE INDEPENDENT MEMBERS OF THE LEADERSHIP DEVELOPMENT & EXECUTIVE COMPENSATION COMMITTEE (LDEC). IN REVIEWING COMPENSATION, THE LDEC UTILIZES AN INDEPENDENT COMPENSATION CONSULTANT, COMPARABLE MARKET DATA FROM PUBLISHED SURVEYS AND FEDERAL FORM 990S OF COMPARABLE ORGANIZATIONS IN EVALUATING THE COMPENSATION FOR EACH INDIVIDUAL. THE LDEC CONDUCTS A REVIEW OF THIS COMPARABILITY DATA, SETS COMPENSATION WITHIN A RANGE OF COMPARABLE ORGANIZATIONS, AND DOCUMENTS ITS DELIBERATION AND DISCUSSION IN MINUTES THAT ARE RETAINED WITH THE OTHER GOVERNANCE MATERIALS OF THE UNIVERSITY. WORKING WITH AN INDEPENDENT COMPENSATION CONSULTANT AND LDEC, WPI CONDUCTED A COMPREHENSIVE REVIEW OF EXECUTIVE COMPENSATION, INCLUDING THE DEVELOPMENT OF A NEW COHORT OF PEER INSTITUTIONS IN FALL OF 2021. RECOMMENDATIONS FROM THIS REVIEW WERE APPROVED BY LDEC IN FEBRUARY 2022. SUBSEQUENT REVIEWS THROUGHOUT 2022 AND 2023 OF EXECUTIVE COMPENSATION HAVE OCCURRED AS THERE WERE CHANGES IN LEADERSHIP APPOINTMENTS, INCLUDING INTERIM APPOINTMENTS OF PRESIDENT AND PROVOST, APPOINTMENT OF NEW PRESIDENT, ESTABLISHMENT OF NEW POSITION OF SVP FOR ENROLLMENT AND STUDENT AFFAIRS, AND INITIATION OF SEARCH FOR NEW PROVOST. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON ITS WEBSITE (WWW.WPI.EDU). FORM 990, PART XI, LINE 9: NET UNREALIZED LOSS ON BENEFICIAL INTEREST IN TRUSTS -275,459. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -236,065. NET UNREALIZED GAIN ON SWAPS 896,857. GATEWAY PARK LLC 100 INSTITUTE ROAD WORCESTER MA 01609 043494779 REAL EST. DEV MA 724649 0 WPI WASHBURN PARK INC 100 INSTITUTE ROAD WORCESTER MA 01609 271189816 INFRASTRUCTURE MA 501(C)(3) LINE 10 WPI 1 ASSISTMENTS FOUNDATION 482 SOUTHBRIDGE ST 398 AUBURN MA 01501 834228740 EDUCATION MA 501(C)(3) LINE 12A, I WPI 1 CHARITABLE REMAINDER TRUSTS (20) 100 INSTITUTE ROAD WORCESTER MA 01609 CHAR TRUSTS MA N/A T 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 WASHBURN PARK INC D 5655690 COST WASHBURN PARK INC A 184600 FMV WASHBURN PARK INC S 30390894 FMV ASSISTMENTS FOUNDATION B 1342250 CASH