2025-05-07T09:46:07-05:00 2024-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2023-07-01 042134818 LABOURE COLLEGE OF HEALTHCARE INC LABO 6173223500 303 ADAMS STREET MILTON MA 02186 DR LILY HSU PRESIDENT 6173223500 2025-05-04 1 1 KAREN LO P01434915 6179129000 2025-05-04 2023 2025-03-06 01:10:19Z DR LILY HSU 303 ADAMS STREET MILTON MA 02186 14392686 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 15 275 15 0 0 765766 178998 20550924 13662979 -135387 384955 31613 12714 21212916 14239646 658286 905837 0 0 13643506 12790428 0 0 549290 6678270 6227028 20980062 19923293 232854 -5683647 46872756 41164074 12279473 10556575 34593283 30607499 LABOURE COLLEGE PROVIDES HIGH-QUALITY EDUCATION AND PREPARES WOMEN AND MEN FOR CAREERS IN NURSING AND ALLIED HEALTH FIELDS. 0 0 15055334 905837 13662979 LABOURE COLLEGE HAS A UNIQUE AND EXTENSIVE 132 YEARS HISTORY IN THE EDUCATION OF HEALTH CARE PROFESSIONALS IN THE GREATER BOSTON AREA. APPROXIMATELY 972 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. 15055334 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 1 0 0 0 0 0 0 0 0 1 53 0 1 275 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 0.30 X 0 0 0 ROBERT DIMASE DIRECTOR 0.30 X 0 0 0 DEBRA FARRAR-PARKMAN DIRECTOR 0.30 X 0 0 0 THERESE FITZGERALD DIRECTOR 0.30 X 0 0 0 GEORGE GEARY DIRECTOR 0.30 X 0 0 0 DEIRDRE HOUTMEYERS DIRECTOR 0.30 X 0 0 0 JEANNE KELLY DIRECTOR 0.30 X 0 0 0 MARY ANNE LAGAN DIRECTOR 0.30 X 0 0 0 BILL MCGINLEY DIRECTOR 0.30 X 0 0 0 JEAN YANG DIRECTOR 0.30 X 0 0 0 JOSEPH RIZZO CHAIR 0.30 X X 0 0 0 ROBERTA COEN VICE CHAIR 0.30 X X 0 0 0 JOSHUA B SIEGEL TREASURER (AS OF 10/18/23) 0.30 X X 0 0 0 WATURA FINLEY SECRETARY (AS OF 10/18/23) 0.30 X X 0 0 0 FR ERIC CADIN DIRECTOR, SECRETARY (UNTIL 10/18/23) 0.30 X X 0 0 0 LILY S HSU EDD PRESIDENT 40.00 X 436514 0 26748 WILLIAM MCDONALD VP OF FINANCE AND ADMINISTRATION 40.00 X 224118 0 19053 MARIA ALTOBELLO VP OF ACADEMIC & STUDENT AFFAIRS 40.00 X 205009 0 27181 JEREMY SPENCER VP OF ACADEMIC & STUDENT AFFAIRS 40.00 X 173196 0 9460 KATELYN DWYER EXEC DIRECTOR OF COMMUNICATIONS & DEVELOPMENT 40.00 X 180761 0 31052 JACQUELYN POLITO NDT DEPARTMENT CHAIR 40.00 X 141365 0 6078 JO ANNE FOLEY ASSOCIATE PROFESSOR 40.00 X 180777 0 14670 WAYNE PETERSON DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 150616 0 13423 COREEN L SALMON ASSISTANT PROFESSOR 40.00 X 157926 0 11137 PAULA SANTANA-MCWILLIAM ASSOCIATE DEAN OF NURSING 40.00 X 134435 0 14423 MARILYN GARDNER FORMER VP OF INST. EXCELLENCE 0.00 X 142341 0 5372 2127058 0 178597 34 1 1 0 ASSESSMENT TECHNOLOGIES INST LLC 6277 COLLECTIONS CTR DR CHICAGO IL 60693 TESTING SVCS. 878150 SUMMIT CREW 33 UNION STREET SUITE 2 BOSTON MA 02108 DIGITAL MARKETING 386200 SSC INC 25 CONTROLS DRIVE SHELTON CT 06484 SECURITY 304814 MMI INC 885 MAIN STREET SUITE 905 BRIDGEPORT CT 06604 CUSTODIAL SERVICES 228317 JENZABAR 101 HUNTINGTON AVE SUITE 2200 BOSTON MA 02199 INFORMATION TECHNOLOGY 210044 10 178998 43100 178998 TUITION AND FEES 611310 13662979 13662979 13662979 485420 485420 52575 153040 -100465 -100465 -100465 ADMINISTRATIVE FEES 900099 8087 8087 LOAN FUND INCOME 900099 4627 4627 12714 14239646 13662979 0 397669 905837 905837 1207939 340313 800491 67135 9505996 8438066 882558 185372 244020 165625 74144 4251 1039602 826380 192014 21208 792871 624761 151411 16699 66318 66318 133893 133893 50642 50642 1479394 589546 679997 209851 812508 568459 234402 9647 625649 437726 180495 7428 1471175 941411 514164 15600 18317 18317 9028 7861 911 256 177520 124199 51213 2108 429903 300775 124024 5104 100178 100178 SUPPLIES 777155 728194 46262 2699 DUES AND MEMBERSHIPS 55863 18379 35552 1932 ACCREDITATION 19485 19485 19923293 15055334 4318669 549290 9148271 5802640 10053253 5225667 176805 105710 761983 1645499 517652 599374 15607793 4886031 11135095 10721762 10006126 11296847 4546125 5195404 435968 530571 91478 40600 46872756 41164074 1702730 1231535 2760102 1839397 7060460 6785516 756181 700127 12279473 10556575 X 30068092 26027542 4525191 4579957 34593283 30607499 46872756 41164074 -5683647 1697863 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8328352 80450 1084199 86825 9406176 7424595 262701 707356 66300 8328352 9540947 375 -1237274 879453 7424595 7805962 700 1734285 9540947 5678956 2000325 126681 7805962 0.61000 0.19000 0.20000 0 0 2000000 2000000 11443979 2930916 8513063 2163814 1955115 208699 10721762 COMMONFUND MULTI STRATEGY EQUITY FUND 3385506 F COMMONFUND MULTI STRATEGY BOND FUND 1809898 F 5195404 REFUNDABLE GOVERNMENT STUDENT LOANS 659527 LEASE LIABILITIES 40600 700127 X 14983226 1697863 -905837 792026 14191200 48446 48446 14239646 18969010 0 18969010 48446 905837 954283 19923293 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, 2024 AND 2023. 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 -905,837. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED WITH TUITION AND FEES REVENUE ON AUDITED FS 905,837. 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 323 905837 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 1 0 LILY S HSU EDD PRESIDENT 380912 0 30552 0 25050 0 9374 0 17374 0 463262 0 0 0 WILLIAM MCDONALD VP OF FINANCE AND ADMINISTRATION 212051 0 11293 0 774 0 8510 0 10543 0 243171 0 0 0 MARIA ALTOBELLO VP OF ACADEMIC & STUDENT AFFAIRS 193420 0 10401 0 1188 0 8681 0 18500 0 232190 0 0 0 KATELYN DWYER EXEC DIRECTOR OF COMMUNICATIONS & DEVELOPMENT 172292 0 8289 0 180 0 5311 0 25741 0 211813 0 0 0 JO ANNE FOLEY ASSOCIATE PROFESSOR 174297 0 5415 0 1065 0 0 0 14670 0 195447 0 0 0 JEREMY SPENCER VP OF ACADEMIC & STUDENT AFFAIRS 163899 0 8915 0 382 0 7886 0 1574 0 182656 0 0 0 COREEN L SALMON ASSISTANT PROFESSOR 153388 0 4313 0 225 0 1226 0 9911 0 169063 0 0 0 WAYNE PETERSON DIRECTOR OF INFORMATION TECHNOLOGY 142443 0 8035 0 138 0 4342 0 9081 0 164039 0 0 0 MARILYN GARDNER FORMER VP OF INST. EXCELLENCE 140487 0 0 0 1854 0 4092 0 1280 0 147713 0 0 0 PART I, LINE 7 IN SEPTEMBER 2023, ALL EMPLOYEES RECEIVED A RETENTION BONUS, EXCEPT FOR THE PRESIDENT AND THE HR DIRECTOR. THE PRESIDENT RECEIVED A DIFFERENT BONUS FROM THE BOARD, WHICH WAS INCLUDED IN HER CONTRACT. A MASSACHUSETTS DEVELOPMENT FINANCE AUTHORITY 043431814 000000000 2021-04-30 7781800 SEE PART VI 0 0 0 A 868932 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. X THERMOMETERS 520 37500 FMV X ARTICULATED SKELETON 1 3000 FMV X VENTILATOR 1 2500 FMV X GIFT CARDS 4 100 FMV 0 0 0 0 PART I, COLUMN (B): REPORTING THE NUMBER OF ITEMS RECEIVED. 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 THE DIRECTORS OF THE COLLEGE BOARD REVIEW AND DETERMINE THE COMPENSATION OF THE COLLEGE PRESIDENT. THE PRESIDENT PERFORMS A 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. THE MOST RECENT COMPENSATION REVIEW WAS CONDUCTED IN JUNE 2022. 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.