2023-04-18T10:19:29-05:00 2022-05-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2021-06-01 042105776 ASSUMPTION UNIVERSITY ASSU 5087677000 500 SALISBURY STREET WORCESTER MA 016091296 PETER WELLS TREASURER, VP FINANCE & ADMIN. 5087677000 2023-04-17 1 PETER WELLS 999009999 LYNNE JOHNSON P00757336 6179129000 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z GREGORY WEINER 500 SALISBURY STREET WORCESTER MA 016091296 149551963 0 X WWW.ASSUMPTION.EDU X 1904 MA HIGHER EDUCATION OF MEN AND WOMEN. ASSUMPTION UNIVERSITY STRIVES TO FORM GRADUATES KNOWN FOR CRITICAL INTELLIGENCE, THOUGHTFUL CITIZENSHIP AND COMPASSIONATE SERVICE. 27 26 1042 75 16019 13517 18060355 19897034 101000846 110374241 26809649 7930508 1174340 1580174 147045190 139781957 54038284 55571508 0 0 38412095 39898158 1856 105363 1435641 28645250 30270858 121097485 125845887 25947705 13936070 264318471 249199201 60755414 50990313 203563057 198208888 X ASSUMPTION UNIVERSITY, IS A COMPREHENSIVE, CATHOLIC LIBERAL ARTS INSTITUTION SPONSORED BY THE AUGUSTINIANS OF THE ASSUMPTION. WE AWAKEN IN STUDENTS A SENSE OF WONDER, DISCOVERY, AND PURPOSE, FORMING GRADUATES KNOWN FOR THEIR INTELLECTUAL SERIOUSNESS, THOUGHTFUL CITIZENSHIP, AND DEVOTION TO THE COMMON GOOD. OUR CURRICULAR AND CO-CURRICULAR PROGRAMS PROVIDE STUDENTS WITH AN EDUCATION THAT SHAPES THEIR SOULS, FORMS THEM INTELLECTUALLY, AND PREPARES THEM FOR MEANINGFUL CAREERS. WE ARE A DIVERSE COMMUNITY THAT WELCOMES DIFFERENT POINTS OF VIEW AND EMBRACES ALL WHO SHARE OUR MISSION. ENLIVENED BY THE CATHOLIC AFFIRMATION OF THE HARMONY OF FAITH AND REASON, AND BY THE PURSUIT OF THE TRUTH IN THE COMPANY OF FRIENDS, AN ASSUMPTION EDUCATION TRANSFORMS THE MIND AND HEARTS OF STUDENTS. 0 0 99944889 55571508 91715020 HIGHER EDUCATION TUITION: PROVIDES COLLEGE DEGREE PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVEL. THE UNIVERSITY AWARDED 543 UNDERGRADUATE DEGREES, 166 GRADUATE DEGREES, AND 1 CERTIFICATES AT COMMENCEMENT. 10958870 13310162 AUX. ENTERPRISES: PROVIDE ON CAMPUS HOUSING TO APPROXIMATELY 1,800 STUDENTS. 6716748 6913214 AUX. ENTERPRISES: PROVIDE BOARD, BOOKS, ETC. TO APPROXIMATELY 2,000 STUDENTS. 117620507 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 136 0 1 1042 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X PETER WELLS 5087677350 500 SALISBURY STREET WORCESTER MA 016091296 FRANCESCO CESAREO PRESIDENT 40.00 X X 420050 0 139836 TIMOTHY STANTON VP OF INST. ADV. (THRU 6/4/21) 40.00 X 241567 0 23491 PETER WELLS TREASURER, VP FINANCE & ADMIN 40.00 X 199951 0 41331 DEBORAH CADY MELZER VP OF STUDENT AFFAIRS 40.00 X 172630 0 50970 GREGORY WEINER VP/PROVOST 40.00 X 179767 0 40729 RAYMOND ALBERT DIRECTOR 40.00 X 194489 0 24150 JENNIFER NIECE PROFESSOR (THRU 8/31/21) 40.00 X 206319 0 5216 ANTHONY TRAYLOR PROFESSOR (THRU 8/31/21) 40.00 X 183234 0 21255 JAMES LANG PROFESSOR (THRU 8/31/21) 40.00 X 184930 0 17935 DANIEL MAHONEY PROFESSOR (THRU 5/31/21) 40.00 X 179132 0 7696 ROBERT MIRABILE VP OF ENROLLMENT MGMT (THRU 8/31/21) 40.00 X 141318 0 27560 CONWAY CAMPBELL VP OF STUDENT SUCCESS 40.00 X 127378 0 38895 LINDA ROSENLUND INTERIM VP OF INST ADV (FROM 6/1/21) 40.00 X 123698 0 19696 MICHAEL RUBINO SECRETARY TO THE BOARD 28.00 X 88876 0 32339 FRANCIS BEDARD CHAIRMAN 2.00 X X 0 0 0 SUZANNE BESNIA TRUSTEE 2.00 X 0 0 0 RICHARD BURKE JR TRUSTEE 2.00 X 0 0 0 CARL CAFARO TRUSTEE 2.00 X 0 0 0 REV ALEX A CASTRO TRUSTEE 2.00 X 0 0 0 MAJOR GENERAL RETIRED ROBERT G CATALANOTTI, TRUSTEE 2.00 X 0 0 0 RICHARD CATRAMBONE TRUSTEE 2.00 X 0 0 0 CAROLYN M CLANCY TRUSTEE 2.00 X 0 0 0 REV JOHN FRANCK TRUSTEE 2.00 X 0 0 0 REV DENNIS GALLAGHER VICE CHAIRMAN 2.00 X X 0 0 0 CHRISTINA GRAZIANO TRUSTEE (FROM 5/7/22) 2.00 X 0 0 0 DR MICHAEL KELLY TRUSTEE 2.00 X 0 0 0 JAMES KRUKONES TRUSTEE 2.00 X 0 0 0 REV VINCENT LECLERCQ TRUSTEE 2.00 X 0 0 0 HARRIS MACNEILL TRUSTEE 2.00 X 0 0 0 CHRISTINE CANNON MARCKS TRUSTEE 2.00 X 0 0 0 LILLIAM MILLER TRUSTEE 2.00 X 0 0 0 REV MARCEL POIRIER TRUSTEE 2.00 X 0 0 0 REV PETER PRECOURT TRUSTEE 2.00 X 0 0 0 REV EDWARD SHATOV TRUSTEE 2.00 X 0 0 0 DR STEPHEN SKOLY JR TRUSTEE 2.00 X 0 0 0 MICHAEL D SLEEPER TRUSTEE (THRU 5/31/22) 2.00 X 0 0 0 JOSEPH SPILLANE TRUSTEE 2.00 X 0 0 0 SR CLARE TERESA TJADER TRUSTEE 2.00 X 0 0 0 ANDREW VIENS TRUSTEE 2.00 X 0 0 0 JON WEAVER TRUSTEE 2.00 X 0 0 0 WILLIAM BOFFI VP OF ENROLLMENT MGMT (FROM 4/1/22) 40.00 X 0 0 0 2643339 0 491099 39 0 1 0 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 DINING AND FACILITIES SERVICES 5956141 DYNAMIC CAMPUS SOLUTIONS 2806 FLINTROCK TRACE STE A205 AUSTIN TX 78738 INFORMATION TECH SERVICES 2335042 LAURING CONSTRUCTION COMPANY 23 BRIGHAM ROAD WORCESTER MA 01609 CONSTRUCTION 1098062 ANTONELLI CONSTRUCTION COMPANY 21 ADAMS STREET WORCESTER MA 01613 CONSTRUCTION 467407 BEST PRACTICE SOLUTIONS 111 W JACKSON BLVD CHICAGO IL 60604 ENROLLMENT & FA SERVICES 445583 18 15638232 4258802 485603 19897034 TUITION AND FEES 611310 91715020 91715020 AUXILIARY 611310 18659221 18643202 16019 110374241 4175715 4175715 13524799 9770006 3754793 3754793 3754793 ATHLETIC PROGRAMS 611310 836513 836513 EXTRACURRICULAR ACTIVITIES 611310 240036 240036 CHAPEL 611310 66371 66371 437254 437254 1580174 139781957 111938396 16019 7930508 305100 305100 55266408 55266408 1452525 808143 386645 257737 27332688 23793640 2972281 566767 1693811 1473616 186319 33876 7530109 6551195 828312 150602 1889025 1643452 207793 37780 10685420 10279403 406017 76823 76823 113777 113777 105363 105363 42436 36071 6365 2157396 1510142 539129 108125 1513562 1422748 89615 1199 518999 441149 57090 20760 3220491 2769598 354281 96612 1830691 1720850 75058 34783 427796 397849 29221 726 427464 388992 37422 1050 908638 855434 53204 4974023 4682776 291247 1035105 993700 40779 626 EVENTS 1334604 1276608 38361 19635 COVID TESTING AND SUPPO 1003633 1003633 125845887 117620507 6789739 1435641 6255256 6255256 17826946 17806561 9983251 4388433 1029781 994398 822013 513840 1290018 1554136 188351778 82257436 107192968 106094342 102240455 95478820 15847908 14394794 1829875 1718621 264318471 249199201 5796141 7396438 7132493 5832769 37692340 35662870 10134440 2098236 60755414 50990313 X 149174621 148404289 54388436 49804599 203563057 198208888 264318471 249199201 X 13936070 -19194423 -95816 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1207696 X X 0 101791191 19616560 -9712555 3468162 108227034 82904251 564179 22664982 998357 3343864 101791191 102942073 479172 3149005 5665999 18000000 82904251 108439232 716515 -1580936 4632738 102942073 102544361 483185 9290421 3878735 108439232 0.60000 0.40000 0.00000 0 0 2250548 2250548 162052964 70222104 91830860 21060782 12035332 9025450 2987484 2987484 106094342 PARTNERSHIP INVESTMENTS 14394794 F 14394794 ANNUITY OBIGATIONS 588675 ASSET RETIREMENT OBLIGATION 264895 REFUNDABLE GOVERNMENT STUDENT LOANS 1244666 2098236 X 67205061 -19194423 -53382473 -72576896 139781957 0 139781957 72559230 0 72559230 53286657 53286657 125845887 PART III, LINE 4: ST. JOHN'S BIBLE, FR. D'ALZON STATUE, SAINT AUGUSTINE STATUE, CHRIST THE HEALER STATUE AND STAIN GLASS WINDOWS ARE LOCATED ON CAMPUS AS PART OF OUR MISSION AS A CATHOLIC INSTITUTION. IN ADDITION, THERE IS A BOOK COLLECTION FROM FR. TAVARD IN THE UNIVERSITY'S LIBRARY. PART V, LINE 4: THE INTENDED USES OF THE UNIVERSTY'S ENDOWMENT FUNDS ARE FOR FINANCIAL ASSISTANCE AND SCHOLARSHIPS FOR STUDENTS ATTENDING THE UNIVERSITY, AND FOR ADDITIONAL FACILITIES AND FACULTY DEVELOPMENT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. THE UNIVERSITY 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 TAXING AUTHORITIES. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. THE UNIVERSITY WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS -53,286,657. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -180,656. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST -111,254. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 196,094. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 53,286,657. 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 NOTICE OF NON DISCRIMINATION POLICY IS MAILED TO EACH STUDENT. IN ADDITION NOTICES ARE POSTED ON CAMPUS BULLETIN BOARDS AND UNIVERSITY PORTAL SYSTEM. THE UNIVERSITY CATALOG ALSO CONTAINS THE COMPLETE POLICY. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE UNIVERSITY RECEIVED FUNDING FROM THE FEDERAL GOVERNMENT THROUGH THREE GRANTS AS PART OF THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF). THE AMOUNTS OF THE FIRST AND SECOND ROUNDS OF HEERF FUNDING WERE $1,485,031 AND $2,203,031, RESPECTIVELY, FOR A TOTAL OF $3,688,062. THE BARRIERS TO ENTITLEMENT FOR THE FIRST TWO HEERF GRANTS WERE MET DURING THE YEAR ENDED MAY 31, 2021 AND THE AMOUNTS ARE INCLUDED IN GRANT REVENUE ON THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THE TOTAL AMOUNT OF THE THIRD ROUND OF HEERF FUNDING WAS $3,944,408. THE BARRIERS TO ENTITLEMENT FOR THE THIRD ROUND OF HEERF FUNDING WERE MET DURING THE YEAR ENDED MAY 31, 2022 AND THE AMOUNT IS INCLUDED IN GRANT REVENUE FOR THE YEAR ENDED MAY 31, 2022. THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT) CONTAINED A BUSINESS RELIEF PROVISION KNOWN AS THE EMPLOYEE RETENTION CREDIT (ERC). THE UNIVERSITY DETERMINED IT WAS ELIGIBLE FOR THE PROGRAM BECAUSE IT PAID QUALIFIED WAGES DURING A PARTIAL SUSPENSION OF SERVICE DUE TO GOVERNMENT ORDERS RELATED TO COVID-19. THE UNIVERSITY CALCULATED THE AMOUNT OF THE CREDIT, TOTALING $4,435,710 FOR THE PERIOD FROM JANUARY 1, 2021 TO MAY 31, 2021, AND EXECUTED FILINGS FOR REIMBURSEMENT. SINCE THE BARRIERS TO ENTITLEMENT WERE MET DURING THE YEAR ENDED MAY 31, 2021, THE ENTIRE AMOUNT WAS INCLUDED IN OTHER INCOME ON THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS, AND IN GRANTS AND OTHER RECEIVABLES ON THE STATEMENT OF FINANCIAL POSITION. THE UNIVERSITY RECEIVED PAYMENT FOR THE FULL AMOUNT OF THE RECEIVABLE DURING THE YEAR ENDED MAY 31, 2022. IN APRIL 2020, THE UNIVERSITY RECEIVED A PAYROLL PROTECTION PROGRAM (PPP) LOAN OF $7,500,000 UNDER THE CARES ACT. THE UNIVERSITY USED THE PROCEEDS FROM THE LOAN FOR QUALIFYING EXPENSES, SUBMITTED ITS FORGIVENESS APPLICATION IN MAY 2021 TO THE SMALL BUSINESS ADMINISTRATION (SBA), AND WAS AWARDED FORGIVENESS OF THE ENTIRE AMOUNT IN JANUARY 2022. EUROPE (INCLUDING ICELAND & GREENLAND) 1 1 PROGRAM SERVICES STUDY ABROAD CAMPUS AND PROGRAM 352486 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 11313803 1 1 0 0 1 1 11666289 0 11666289 1 0 1 1 0 0 PART III ACCOUNTING METHOD: X X X X X X 0 BENTZ WHALEY FLESSNER 7251 OHMS LANE MINNEAPOLIS MN 55439 POST CAMPAIGN ASSESSMENT AND PALNNING 0 0 105363 0 105363 MA 1 KARS4KIDS INC 1805 SWARTHMORE AVE LAKEWOOD NJ 08701 223746050 501(C)(3) 0 5100 FMV 2011 FORD TRANSIT CONNECT GENERAL PURPOSE THE AUGUSTINIANS OF THE ASSUMPTION 330 MARKET STREET BRIGHTON MA 02135 501(C)(3) 300000 0 GENERAL PURPOSE 2 INSTITUTIONAL & ENDOWED GRANTS/SCHOLARSHIPS 2057 49246027 BOOK CREDIT TO STUDENT ACCOUNTS PELL 391 1860731 SEOG 174 436180 MA AND OTHER STATE SCHOLARSHIPS 385 1243501 FEDERAL WORK STUDY 152 246918 DOE RC GRANT 10 253300 HEERF STUDENT AID 935 1979751 PART I, LINE 2: THE UNIVERSITY'S FINANCIAL AID OFFICE FOLLOWS ALL REGULATIONS WHEN AWARDING GRANTS AND SCHOLARSHIPS. STUDENT'S ELIGIBILITY IS REVIEWED EACH TERM TO ENSURE COMPLIANCE WITH AWARDING INSTITUTIONAL, FEDERAL AND STATE AID WITH POLICIES AND PROCEDURES. THE UNIVERSITY ALSO FILES ANNUAL STATE GRANT YEAR END REPORTING, FISAP AND IPEDS DATA. STUDENT ELIGIBILITY IS BASED ON THEIR PER TERM STANDING AND AID IS EVALUATED BASED ON THEIR ENROLLMENT. SCHEDULE I, PART III, LINE 7: THE UNIVERSITY PROVIDED DIRECT EMERGENCY AID TO ELIGIBLE STUDENTS FOR THEIR EXPENSES RELATED TO THE DISRUPTION OF CAMPUS OPERATIONS DUE TO CORONAVIRUS. $1,979,751 WAS FUNDED BY THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) ESTABLISHED UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT). X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 FRANCESCO CESAREO PRESIDENT 414506 0 0 0 5544 0 69950 0 69886 0 559886 0 0 0 TIMOTHY STANTON VP OF INST. ADV. (THRU 6/4/21) 115794 0 0 0 125773 0 6161 0 17330 0 265058 0 0 0 PETER WELLS TREASURER, VP FINANCE & ADMIN 198019 0 0 0 1932 0 15299 0 26032 0 241282 0 0 0 DEBORAH CADY MELZER VP OF STUDENT AFFAIRS 170753 0 0 0 1877 0 13650 0 37320 0 223600 0 0 0 GREGORY WEINER VP/PROVOST 177890 0 0 0 1877 0 13800 0 26929 0 220496 0 0 0 RAYMOND ALBERT DIRECTOR 193301 0 0 0 1188 0 14076 0 10074 0 218639 0 0 0 JENNIFER NIECE PROFESSOR (THRU 8/31/21) 75910 0 0 0 130409 0 4483 0 733 0 211535 0 0 0 ANTHONY TRAYLOR PROFESSOR (THRU 8/31/21) 59164 0 0 0 124070 0 3573 0 17682 0 204489 0 0 0 JAMES LANG PROFESSOR (THRU 8/31/21) 48771 0 0 0 136159 0 3504 0 14431 0 202865 0 0 0 DANIEL MAHONEY PROFESSOR (THRU 5/31/21) 54676 0 0 0 124456 0 2751 0 4945 0 186828 0 0 0 ROBERT MIRABILE VP OF ENROLLMENT MGMT (THRU 8/31/21) 140478 0 0 0 840 0 9635 0 17925 0 168878 0 0 0 CONWAY CAMPBELL VP OF STUDENT SUCCESS 126007 0 0 0 1371 0 10133 0 28762 0 166273 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDED ON-CAMPUS HOUSING TO FRANCESCO CESAREO, PRESIDENT, WHICH IS NOT TAXABLE PURSUANT TO SEC. 119. THE VALUE OF THE HOUSING IS INCLUDED ON FORM 990, PART VII, COLUMN F AND SCHEDULE J, PART II, COLUMN D. THE PRESIDENT RECEIVED COUNTRY CLUB MEMBERSHIP DUES BENEFIT WHICH WERE TREATED AS NONTAXABLE. THEY ARE REPORTED ON FORM 990, PART VII, COLUMN F AND SCHEDULE J, PART II, COLUMN D. THE MEMBERSHIP IS A WORKING CONDITION FRINGE BENEFIT. THE UNIVERSITY HOLDS FUNDRAISERS AT THE COUNTRY CLUB AND THE PRESIDENT USES THE MEMBERSHIP FOR CULTIVATING DONORS AND CAPITAL CAMPAIGN RELATED FUNCTIONS. PART I, LINES 4A-B THE FOLLOWING INDIVIDUALS LEFT THEIR POSITIONS DURING THE YEAR AND RECEIVED SEVERANCE PAYMENTS REPORTED IN PART II, COLUMN (B)(III): TIMOTHY STANTON, VP OF INSTITUTIONAL ADVANCEMENT, RECEIVED $121,328 JENNIFER NIECE, PROFESSOR, RECEIVED $130,260 ANTHONY TRAYLOR, PROFESSOR, RECEIVED $123,674 JAMES LANG, PROFESSOR, RECEIVED $135,982 DANIEL MAHONEY, PROFESSOR, RECEIVED $123,800 THE UNIVERSITY HAS EXTENDED ITS DEFERRED COMPENSATION PLAN UNDER SECTION 457(F) FOR THE PRESIDENT OF THE UNIVERSITY. ALL ACCRUED DEFERRED COMPENSATION SHALL VEST AND BE PAYABLE ON THE EARLIEST OF DEATH, PERMANENT DISABILITY, TERMINATION WITHOUT CAUSE BY THE UNIVERSITY, RESIGNATION FOR GOOD REASON, OR COMPLETION OF THE INITIAL TERM OF THE ARRANGEMENT (JUNE 30, 2022). DURING FISCAL YEAR 2022, THE UNIVERSITY HAS CONTRIBUTED $42,000 TO THE SECTION 457(F) PLAN FOR THE PRESIDENT, AND IT IS REPORTED IN PART II, COLUMN (C). A MA DEVELOPMENT FINANCE AGENCY 043431814 2012-08-01 28610000 REFUNDING 2002 ISSUE 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2014-06-06 9720000 REFUNDING 2000A ISSUE 0 0 0 C MA DEVELOPMENT FINANCE AGENCY 043431814 2016-09-30 32000000 CONSTRUCTION OF NEW BUILDING AND REDEEM A PORTION OF SERIES 2012 BONDS 0 0 0 A 28610000 28610000 297863 28312137 2002 1 0 1 1 B 4600000 9720000 75300 9644700 2000 1 0 1 1 C 1275000 32000000 138850 15000000 16861150 2018 1 0 1 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 1 MORGAN STANLEY 20.000000000000 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 X 18 485603 FMV 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF DONATED SECURITIES IS BASED ON THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT (VP OF FINANCE/TREASURER) REVIEWS THE FORM 990 FILING IN A DRAFT FORM AND THEN DISTRIBUTES TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DURING THE FALL OF EACH YEAR, THE SECRETARY OF THE BOARD MAILS TO ALL UNIVERSITY TRUSTEES AND OFFICERS A QUESTIONNAIRE ASKING THEM TO DISCLOSE ANY RELATED PARTY TRANSACTIONS WITH THE UNIVERSITY. A TOTAL OF SEVEN QUESTIONS ARE ASKED. THE MEMORANDUM EXPLAINS THE NECESSITY OF COMPLETING THE RELATED PARTY QUESTIONNAIRE AND EMPHASIZED THE FACT THAT THE UNIVERSITY EXPECTS A 100% RESPONSE. IN ADDITION TO THE QUESTIONNAIRE AND MEMORANDUM, THE TRUSTEES AND OFFICERS ALSO RECEIVE A TWO PAGE INSTRUCTIONAL DOCUMENT WHICH EXPLAINS IN SIMPLE TERMS WHAT A CONFLICT OF INTEREST IS AND WHY FULL DISCLOSURE OF A REAL OR PERCEIVED CONFLICT OF INTEREST IS IMPORTANT. THIS DOCUMENT ALSO INCLUDES A NUMBER OF RECOMMENDATIONS ON THE SUBJECT PUT FORTH BY THE MASSACHUSETTS ATTORNEY GENERAL. ONCE COMPLETED, THE QUESTIONNAIRES ARE RETURNED TO THE SECRETARY OF THE BOARD WHO MONITORS THEIR RESPONSE AND FOLLOWS UP WITH THOSE TRUSTEES AND OFFICERS WHO ARE TARDY IN COMPLETING AND RETURNING THEIR QUESTIONNAIRES. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION COMMITTEE MADE UP OF FOUR UNIVERSITY TRUSTEES, THE CHAIR, THE VICE CHAIR, THE CHAIR OF THE FINANCE COMMITTEE, AND THE CHAIR OF THE STUDENT EXPERIENCE COMMITTEE ESTABLISHES THE COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY ON AN ANNUAL BASIS. THE COMPENSATION COMMITTEE USES COMPARABLE DATA WHICH IS PUBLISHED ANNUALLY IN THE CHRONICLE OF HIGHER EDUCATION AND REPORTS RECEIVED FROM INDEPENDENT COMPENSATION CONSULTANTS. ADDITIONALLY THE ENTIRE BOARD CONDUCTS AN ANNUAL PERFORMANCE REVIEW OF THE PRESIDENT. OTHER OFFICERS AND KEY EMPLOYEES ARE NORMALLY REVIEWED BY THE PRESIDENT OF THE UNIVERISTY WHO MAKES AN ADJUSTMENT IN THEIR SALARY BASED ON PERFORMANCE FACTORS AND ALSO BASED ON THE CHRONICLE OF HIGHER EDUCATION. THE COMPENSATION OF THE VICE PRESIDENTS IS REVIEWED BY THE COMPENSATION COMMITTEE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FOR INTERESTED THIRD PARTIES, ALL OF THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 (PUBLIC DISCLOSURE COPY) AND FINANCIAL STATEMENTS ARE AVAILABLE ON REQUEST FROM THE SECRETARY AT ASSUMPTION UNIVERSITY (500 SALISBURY STREET, WORCESTER, MA 01609) FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FOR ALL EMPLOYEES OF THE UNIVERSITY, ALL OF THE POLICIES AND PROCEDURES INCLUDING THE WHISTLEBLOWER POLICY, CONFLICT OF INTEREST POLICY AND OTHERS ARE AVAILABLE VIA OUR INTERNAL ONLINE PORTAL SYSTEM. A COPY OF THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -180,656. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUST -111,254. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 196,094. CHARITABLE REMAINDER TRUST (1) CHARITABLE REMAINDER TRUST MA ASSUMPTION UNIVERSITY 0 CHARITABLE REMAINDER TRUST (1) CHARITABLE REMAINDER TRUST RI ASSUMPTION UNIVERSITY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0