2025-05-15T08:34:54-05:00 2024-06-30 263753134 CBIZ ADVISORS LLC 53 STATE STREET 17TH FLOOR BOSTON MA 02109 990 2023-07-01 041958460 WENTWORTH INSTITUTE OF TECHNOLOGY INC WENT 6179894011 550 HUNTINGTON AVENUE BOSTON MA 021155998 MATT GRUBER SR. VP, FINANCE & ADMIN. 6179894011 2025-05-14 1 1 CRAIG KLEIN P00734640 6178075000 2025-05-14 2023 2025-03-06 01:10:19Z MARK A THOMPSON 550 HUNTINGTON AVENUE BOSTON MA 021155998 277342156 0 X WWW.WIT.EDU X 1904 MA WENTWORTH INSTITUTE OF TECHNOLOGY IS A NATIONALLY RECOGNIZED PRIVATE COEDUCATIONAL AND RESIDENTIAL UNIVERSITY OF HIGHER EDUCATION WITH A MISSION TO EMPOWER, INSPIRE AND INNOVATE THROUGH EXPERIENTIAL LEARNING WITH A CORE PURPOSE OF CAREER SUCCESS. 22 21 2312 150 7369 0 12306055 5129023 177386773 193287668 3591780 1930108 183747 694720 193468355 201041519 58880132 68073820 0 0 74773934 77559229 0 0 3280916 63858913 65257546 197512979 210890595 -4044624 -9849076 493989600 499876599 221860098 219891097 272129502 279985502 WENTWORTH INSTITUTE OF TECHNOLOGY IS A NATIONALLY RECOGNIZED PRIVATE COEDUCATIONAL AND RESIDENTIAL UNIVERSITY OF HIGHER EDUCATION WITH A MISSION TO EMPOWER, INSPIRE AND INNOVATE THROUGH EXPERIENTIAL LEARNING WITH A CORE PURPOSE OF CAREER SUCCESS. 0 0 182344824 68073820 193954906 WENTWORTH INSTITUTE OF TECHNOLOGY, INC. (THE "UNIVERSITY") LOCATED IN BOSTON, MASSACHUSETTS IS A PRIVATE, COEDUCATIONAL INSTITUTION FOUNDED IN 1904 AND ACCREDITED BY THE NEW ENGLAND COMMISSION OF HIGHER EDUCATION, INC. AMONG OTHER ACCREDITING BODIES. THE UNIVERSITY PROVIDES ACADEMIC, RESIDENTIAL AND OTHER SERVICES TO A VARIED STUDENT POPULATION OF APPROXIMATELY 4,200, PREDOMINATELY FROM THE NORTHEAST REGION OF THE UNITED STATES, AS WELL AS FROM APPROXIMATELY 30 U.S. STATES AND 70 FOREIGN COUNTRIES. 182344824 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 1 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 4804 0 1 2312 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA AL AK AZ AR GA IL KS KY MD MI MN MS MO NH NJ NM NY OK OR PA RI SC TN UT VA WV WI X MATT GRUBER 6179894011 550 HUNTINGTON AVENUE BOSTON MA 021155998 MARK A THOMPSON PRESIDENT 40.00 X X 762853 0 59268 GREGORY B JANEY CHAIR 4.00 X X 0 0 0 ROSEMARIE A CONTI VICE CHAIR 4.00 X X 0 0 0 YANEL DE ANGEL TRUSTEE 4.00 X 0 0 0 NOELLE BENAVIDES TRUSTEE 4.00 X 0 0 0 DAVID C BLITTERSDORF TRUSTEE 4.00 X 0 0 0 ANTHONY BOND TRUSTEE 4.00 X 0 0 0 LLOYD A CARNEY TRUSTEE 4.00 X 0 0 0 MICHAEL CARRAGHER TRUSTEE 4.00 X 0 0 0 JEROME H CASEY TRUSTEE 4.00 X 0 0 0 DAVID CHANG TRUSTEE 4.00 X 0 0 0 PAUL CHRESTENSEN TRUSTEE 4.00 X 0 0 0 CASEY GALANTE TRUSTEE 4.00 X 0 0 0 RICK GRUNDY TRUSTEE 4.00 X 0 0 0 PAUL A GUARRACINO TRUSTEE (UNTIL 12/23) 4.00 X 0 0 0 RYAN E HUTCHINS TRUSTEE (UNTIL 9/23) 4.00 X 0 0 0 ANIL JHA TRUSTEE 4.00 X 0 0 0 DOUGLAS J KARAM SECRETARY 4.00 X X 0 0 0 LAWRENCE LAFRENIERE TREASURER (UNTIL 11/23) 4.00 X X 0 0 0 JOHN M LYNCH TRUSTEE (UNTIL 7/23) 4.00 X 0 0 0 KATHLEEN MACNEIL TRUSTEE 4.00 X 0 0 0 TRAVIS MCCREADY TREASURER 4.00 X X 0 0 0 GARY J MILLER TRUSTEE (UNTIL 2/24) 4.00 X 0 0 0 JOHN PINI TRUSTEE (UNTIL 5/24) 4.00 X 0 0 0 MICHAEL SANTORA TRUSTEE 4.00 X 0 0 0 AL SPAGNOLO TRUSTEE 4.00 X 0 0 0 MARK STOEVER TRUSTEE 4.00 X 0 0 0 KENNETH TURNER TRUSTEE 4.00 X 0 0 0 SOPHIA A MAGGELAKIS PROVOST 40.00 X 442087 0 40297 ERIK COTE VP FOR STRATEGY & PLANNING 40.00 X 218459 0 29812 ROBERT L TOTINO VP FOR FINANCE & CFO 40.00 X 308251 0 59577 ELIZABETH HERBERT VP FOR INSTITUTIONAL ADVANCEMENT 40.00 X 298683 0 30564 LYNN MCCORMICK VP GENERAL COUNSEL 40.00 X 239292 0 36268 VISHVAS PARADKAR VP OF TECHNOLOGY & CIO 40.00 X 270804 0 50629 KRISTIN TICHENOR VP FOR ENROLLMENT MANAGEMENT 40.00 X 286526 0 52293 DAVID WAHLSTROM VP FOR BUSINESS 40.00 X 207137 0 47817 NICOLE G PRICE VP FOR INCLUSIVE EXCELLENCE 40.00 X 209645 0 47969 COURTNEY MCKENNA VP FOR STUDENT AFFAIRS 40.00 X 232955 0 34487 MASOUD OLIA PROFESSOR 40.00 X 208265 0 46927 JOSEPH MARTEL-FOLEY VICE PROVOST 40.00 X 202102 0 53756 ALI K KHABARI DEAN 40.00 X 204012 0 50217 EDWARD REED CHIEF MARKETING & COMMUNICATIONS 40.00 X 204775 0 44099 SUSAN DUFFY ASSOCIATE PROVOST 40.00 X 199919 0 32009 4495765 0 715989 186 0 1 0 GILBANE BUILDING COMPANY CORP 7 JACKSON WALKWAY PROVIDENCE RI 02903 CONSTRUCTION 24235284 SODEXO OPERATIONS LLC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 DINING SERVICES & CATERING 11615017 UG2 LLC 116 HUNTINGTON AVENUE 12TH FL BOSTON MA 02116 CUSTODIAL SERVICES 2549353 CDM SMITH INC 75 STATE ST STE 701 BOSTON MA 02109 ARCHITECTURAL SERVICES 2271200 WORKDAY INC 6110 STONERIDGE MALL ROAD PLEASANTON CA 94588 IT SERVICES 1737206 55 159850 3052118 1917055 211663 5129023 TUITION AND FEES 611310 151753239 151753239 ROOM/BOARD & RELATED 611310 41534429 41534429 193287668 3339236 -9877 3349113 74786462 46508 76242098 0 -1455636 46508 -1409128 17246 -1426374 86021 159850 58539 27482 27482 MISCELLANEOUS 900099 667238 667238 667238 201041519 193954906 7369 1950221 67965185 67965185 108635 108635 4146853 1164523 2657778 324552 59767125 50051869 7793770 1921486 4657726 3882385 625005 150336 4725874 3939189 634149 152536 4261651 3552242 571857 137552 392489 392489 202180 202180 506367 506367 5801973 3318776 2451399 31798 1818057 511267 1183473 123317 3282395 1694792 1569752 17851 1103796 86152 1017344 300 9738044 8325018 1269710 143316 2280525 2090347 132357 57821 696208 540568 139626 16014 4319766 4065628 254138 17362794 16818384 494175 50235 1183871 50121 1133750 DINING SERVICES 5919350 5037887 809020 72443 REPAIRS/MAINTENANCE 5866394 5839845 26549 EVENTS 797488 663798 85936 47754 MEMBERSHIPS 579990 318127 257616 4247 3405859 2320086 1056415 29358 210890595 182344824 25264855 3280916 19619751 17768889 8990307 9565814 4204516 3375013 6478415 6959642 1961407 1182235 4135698 5015852 525232434 250638121 256634640 274594313 89330789 106500205 63051857 56732026 39582220 18182610 493989600 499876599 12853413 19401509 21231984 19642022 168271417 161593331 19503284 19254235 221860098 219891097 X 203291447 206781414 68838055 73204088 272129502 279985502 493989600 499876599 X -9849076 16910475 794601 X 0 1 X 1 1 1 X 11754853 18685942 10581263 12306055 5129023 58457136 11754853 18685942 10581263 12306055 5129023 58457136 1448659 57008477 2657720 1965917 2238010 2353050 3349113 12563810 139632 78835 86021 304488 71325434 1052005447 0.79930 0.80540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENT INCOME - 2021 AMOUNT: $ 139,632. 2022 AMOUNT: $ 78,835. 2023 AMOUNT: $ 86,021. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 207609679 207609679 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 149625584 865509 17581471 2449691 4954121 506367 160162385 143897385 2341496 11049374 2415006 4780488 467177 149625584 149799889 15365942 -15186540 1878126 3742817 460963 143897385 116512860 4666891 34376563 1728824 3640130 387471 149799889 116142475 1812582 3792721 1465188 3411365 358365 116512860 0.61940 0.26580 0.11480 0 0 13392323 13392323 390328971 201637919 188691052 58413863 41941756 16472107 63097277 7058446 56038831 274594313 GLOBAL EQUITY FUNDS 3454949 F INTERNATIONAL EQUITY FUNDS 10598090 F HEDGED EQUITY FUNDS 16945659 F PRIVATE REAL ASSET FUNDS 2765332 F PRIVATE EQUITY AND VENTURE FUNDS 22967996 F 56732026 DEFERRED LEASE REVENUE 15000000 PERKINS AND OTHER GOVERNMENT 1082831 ACCUMULATED POSTRETIREMENT BENEFIT OBLIGATION 1222027 ASSET RETIREMENT OBLIGATIONS 1001836 OBLIGATION ON OPERATING LEASES 871169 OBLIGATION ON CHARITABLE ANNUITY AGREEMENTS 76372 19254235 X 150224947 16910475 794601 17705076 132519871 506367 68015281 68521648 201041519 142368947 58539 58539 142310408 506367 68073820 68580187 210890595 PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 214 DONOR-RESTRICTED AND 12 BOARD-RESTRICTED INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES FOR THE FURTHERANCE OF THE EDUCATIONAL MISSION OF THE UNIVERSITY. THE BOARD OF TRUSTEES HAS ESTABLISHED A SPENDING RATE OF 5% OF A TRAILING TWELVE-QUARTER AVERAGE FAIR VALUE OF THE ENDOWMENT. EARNINGS FROM THE ENDOWED FUNDS ARE PREDOMINATELY USED FOR SCHOLARSHIP, TEACHING, AND PROGRAM EXPENSES. PART X, LINE 2: THE UNIVERSITY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE UNIVERSITY HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND ITS DETERMINATIONS OVER WHICH OF ITS REVENUES ARE RELATED AND UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS. HOWEVER, THE UNIVERSITY HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE UNIVERSITY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE UNIVERSITY'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN TO EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAPS 794,601. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID - GRANTS TO INDIVIDUALS 68,073,820. EXPENSES FROM FUNDRAISING EVENT -58,539. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 58,539. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID - GRANTS TO INDIVIDUALS 68,073,820. 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'S STUDENT POPULATION IS PREDOMINATELY FROM THE NORTHEAST REGION OF THE UNITED STATES, AS WELL AS FROM APPROXIMATELY 30 OTHER U.S. STATES AND TERRITORIES AND 70 FOREIGN COUNTRIES. THE UNIVERSITY FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO ITS STUDENTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY ADMINISTERS DISBURSEMENTS OF FUNDS FOR FEDERAL PROGRAMS INCLUDING PERKINS LOANS, DIRECT LOANS, SEOG, PELL, FEDERAL WORK STUDY, THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF III) AND DISBURSEMENTS FROM VARIOUS STATE GOVERNMENTS LOCATED THROUGHOUT THE USA. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 1 1 PROGRAM SERVICES STUDY ABROAD 501190 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 108635 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 20400608 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 1026 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 27904 1 1 0 0 1 1 21039363 0 21039363 SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 19 108635 TUTITON OFFSET FMV 1 0 1 1 1 0 PART I, LINE 2: ALL GRANTS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT TO COVER A PORTION OF THE STUDENT'S TUITION. ALUMNI GOLF TOURNAMENT 245871 159850 86021 18455 27537 179 12368 245871 159850 86021 18455 27537 179 12368 58539 27482 1 SCHOLARSHIPS TO STUDENTS 3722 66509510 FMV REDUCTION TO STUDENT ACCOUNT BALANCE FOR TUITION OWED TO THE UNIVERSITY SCHOLARSHIPS TO STUDENTS 51 1455675 FMV REDUCTION TO STUDENT ACCOUNT BALANCE FOR ROOM AND BOARD OWED TO THE UNIVERSITY PART I, LINE 2: THE UNIVERSITY'S OFFICE OF FINANCIAL AID MONITORS ALL RECIPIENTS OF SCHOLARSHIP AWARDS TO DETERMINE BOTH INITIAL AND CONTINUING ELIGIBILITY BASED ON THE CRITERIA FOR EACH TYPE OF AWARD, WHICH MAY INCLUDE ACADEMIC PERFORMANCE, FINANCIAL NEED AND CRITERIA ESTABLISHED BY DONORS OF ENDOWED SCHOLARSHIP FUNDS, ETC. X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 MARK A THOMPSON PRESIDENT 580731 0 91215 0 90907 0 33000 0 26268 0 822121 0 0 0 SOPHIA A MAGGELAKIS PROVOST 390871 0 5000 0 46216 0 39197 0 1100 0 482384 0 0 0 ROBERT L TOTINO VP FOR FINANCE & CFO 300929 0 5000 0 2322 0 31458 0 28119 0 367828 0 0 0 KRISTIN TICHENOR VP FOR ENROLLMENT MANAGEMENT 279204 0 5000 0 2322 0 28973 0 23320 0 338819 0 0 0 ELIZABETH HERBERT VP FOR INSTITUTIONAL ADVANCEMENT 292441 0 5000 0 1242 0 29364 0 1200 0 329247 0 0 0 VISHVAS PARADKAR VP OF TECHNOLOGY & CIO 242062 0 5000 0 23742 0 27490 0 23139 0 321433 0 0 0 LYNN MCCORMICK VP GENERAL COUNSEL 233774 0 5000 0 518 0 24118 0 12150 0 275560 0 0 0 COURTNEY MCKENNA VP FOR STUDENT AFFAIRS 227444 0 5000 0 511 0 23324 0 11163 0 267442 0 0 0 NICOLE G PRICE VP FOR INCLUSIVE EXCELLENCE 203438 0 5000 0 1207 0 21540 0 26429 0 257614 0 0 0 JOSEPH MARTEL-FOLEY VICE PROVOST 201476 0 0 0 626 0 21887 0 31869 0 255858 0 0 0 MASOUD OLIA PROFESSOR 205760 0 0 0 2505 0 21808 0 25119 0 255192 0 0 0 DAVID WAHLSTROM VP FOR BUSINESS 182668 0 5000 0 19469 0 21290 0 26527 0 254954 0 0 0 ALI K KHABARI DEAN 202033 0 0 0 1979 0 21616 0 28601 0 254229 0 0 0 EDWARD REED CHIEF MARKETING & COMMUNICATIONS 204096 0 0 0 679 0 21400 0 22699 0 248874 0 0 0 ERIK COTE VP FOR STRATEGY & PLANNING 213085 0 5000 0 374 0 21650 0 8162 0 248271 0 0 0 SUSAN DUFFY ASSOCIATE PROVOST 197081 0 0 0 2838 0 20455 0 11554 0 231928 0 0 0 PART I, LINE 1A PRESIDENT THOMPSON WAS PROVIDED WITH A $6,250 MONTHLY HOUSING ALLOWANCE, AND THE ENTIRE AMOUNT IS TREATED AS TAXABLE COMPENSATION. PROVOST MAGGELAKIS WAS PROVIDED WITH A $5,000 MONTHLY HOUSING ALLOWANCE, AND THE ENTIRE AMOUNT IS TREATED AS TAXABLE COMPENSATION. PART I, LINE 1B THE AMOUNT OF THE HOUSING ALLOWANCE FOR THE PRESIDENT AND PROVOST ARE INCLUDED IN WRITTEN EMPLOYMENT CONTRACTS THAT WERE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE AMOUNTS WERE DETERMINED PARTLY BASED FROM SALARY SURVEYS. PART I, LINE 7 MERIT BASED COMPENSATION MAY BE GRANTED AS EITHER A SALARY INCREASE OR A ONE-TIME BONUS. QUALIFICATIONS FOR RECEIVING A BONUS INCLUDE PERFORMANCE EXCEEDING EXPECTATIONS OR TAKING ON ADDITIONAL DUTIES DUE TO STAFF VACANCIES OR TEMPORARY ABSENCES. IN THE CASE OF EMPLOYEES BELOW THE LEVEL OF DIVISION HEADS, THE BONUS AMOUNT IS DETERMINED BY CONSULTATION BETWEEN THE DIVISION HEAD AND THE OFFICE OF EMPLOYEE RELATIONS AND ENGAGEMENT. IN THE CASE OF DIVISION HEADS AND OTHER OFFICERS, THE BONUS AMOUNT (IF ANY) IS DETERMINED VIA THE SAME PROCESS AS OTHER COMPENSATION FOR OFFICERS AND OTHER KEY EMPLOYEES INCLUDING REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2013-02-15 69865000 REFUNDING MDFA 2008 SERIES BONDS & CONSTRUCTION OF NEW RESIDENCE HALL 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2015-04-09 46280000 REFUNDING MDFA 2007 SERIES BONDS 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584XJ36 2017-02-16 45000680 CONSTRUCTION OF NEW ACADEMIC BUILDING 0 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2022-07-21 50000000 CONSTRUCTION OF ATHLETIC FIELD AND PARKING DECK 0 0 0 A 69865000 685740 44309260 24870000 2014 1 0 1 1 B 46280000 447723 45832277 2015 1 0 1 1 C 45000680 446505 44554175 2018 0 0 1 1 D 50000000 216500 34410151 103500 15269849 2023 0 0 1 1 A 0 1 1 1 0 0.00180 0.00000 0.00180 0 0 1 B 0 0 1 1 0 0.00450 0.00000 0.00450 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 WELLS FARGO AND RBS CITIZENS 31.000000000000 0 0 0 0 1 B 0 0 0 1 1 1 MORGAN STANLEY AND BANK OF NEW YORK 29.800000000000 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2023 ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2023 ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2023 ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2023 X 3 211663 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER LISTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES GREGORY B. JANEY AND RYAN E. HUTCHINS HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL PRIOR TO ITS FILING. AFTER APPROVAL BY THE AUDIT COMMITTEE, BUT BEFORE IT IS FILED, THE FORM 990 IS POSTED ON THE INSTITUTE'S SECURE WEB PORTAL FOR TRUSTEES. ALL TRUSTEES ARE SENT AN EMAIL TO LET THEM KNOW THAT THE FORM 990 IS AVAILABLE ON THE SECURE PORTAL FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY DISTRIBUTES, VIA EMAIL AND OTHER ELECTRONIC MEANS, A COPY OF THE CONFLICT OF INTEREST POLICY AND RELATED DISCLOSURE FORMS. THE UNIVERSITY MONITORS THE REPLIES TO ENSURE THAT IT RECEIVES REPLIES FROM ALL APPROPRIATE TRUSTEES, OFFICERS, FACULTY AND STAFF PER THE REQUIREMENTS OF THE POLICY. DISCLOSURES OF POTENTIAL CONFLICTS OF INTEREST ARE REPORTED TO BOTH THE EXECUTIVE AND AUDIT COMMITTEES FOR DISPOSITION. THE POLICY ALSO REMINDS ALL INDIVIDUALS THAT THEY ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY ARISE AT ANY TIME AFTER COMPLETION OF THE DISCLOSURE FORM. WHEN AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST IS FOUND TO EXIST, THE CONFLICTED INDIVIDUAL MAY BE PROHIBITED FROM PARTICIPATING IN DELIBERATIONS AND DECISIONS RELATING TO THEIR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE OFFICERS AND OTHER KEY EMPLOYEES OF THE UNIVERSITY MUST ALLOW WENTWORTH TO ATTRACT THE BEST INDIVIDUALS FOR EACH POSITION. THAT COMPENSATION SHALL BE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES TO ENSURE THAT COMPENSATION PACKAGES ARE APPROPRIATE IN THE MARKETPLACE, THAT THE UNIVERSITY HAS A REBUTTABLE PRESUMPTION OF REASONABLENESS, AND THAT THE UNIVERSITY DOES NOT VIOLATE THE INTERMEDIATE SANCTIONS PROVISIONS OF THE INTERNAL REVENUE CODE. IN ORDER TO DETERMINE MARKET VALUE, WENTWORTH HIRED COMPENSATION CONSULTANTS IN 2023 WHO CONDUCTED A MARKET ANALYSIS OF THESE POSITIONS. THIS ANALYSIS INCLUDES DATA FROM PEER INSTITUTIONS. IN ADDITION, WENTWORTH PARTICIPATES IN SEVERAL SALARY SURVEYS WHICH ARE USED TO EVALUATE THE COMPETITIVENESS OF THE UNIVERSITY'S SALARIES. ON AN ANNUAL BASIS, THE PRESIDENT SHALL PROVIDE THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ALL PROPOSED OFFICER COMPENSATION FOR THE NEW CALENDAR YEAR. THE EXECUTIVE COMMITTEE SHALL DETERMINE THE APPROPRIATENESS OF THE OFFICER SALARIES. THE SVP OF FINANCE & ADMINISTRATION WORKS WITH THE EXECUTIVE COMMITTEE TO APPROVE THE PRESIDENT'S SALARY. THE EXECUTIVE COMMITTEE SHALL DOCUMENT IN THE MINUTES OF THE MEETING ALL ACTIONS TAKEN AND DATA USED TO DETERMINE SALARY. ONCE THE EXECUTIVE COMMITTEE MAKES THE RECOMMENDATIONS FOR THE OFFICERS, THE PRESIDENT WILL INFORM THE HUMAN RESOURCES DEPARTMENT TO IMPLEMENT THE CHANGES. THE SVP OF FINANCE & ADMINISTRATION WILL SUBMIT THE SALARY RECOMMENDATIONS FOR THE PRESIDENT TO THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN OR ELECTRONIC REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAPS 794,601.