2019-05-10T11:40:22-05:00 2018-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2017-07-01 041081650 Bentley University % NANCY ANTUNES BENT 7818912000 175 FOREST STREET WALTHAM MA 024524705 MAUREEN FORRESTER VP AND CFO/TREASURER 7818912000 2019-05-10 true SHYAMALEE JOSEPH P01085371 6179881000 2019-05-09 167.68.102.5 04502320191305000001 2019-05-10 P 1D210D884DC4702CA0C83F60B1FF5F96292C00F6 1D210D884DC4702CA0C83F60B1FF5F96292C00F6 2017 2020-04-17 16:48:07Z MAUREEN FORRESTER 175 FOREST STREET WALTHAM MA 024524705 333671196 false X WWW.BENTLEY.EDU X 1917 MA TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE. 24 23 2928 250 866082 8993000 7672000 278977000 293333000 7571746 11753570 1744000 2837000 297285746 315595570 78690000 86845980 0 0 124254628 132133014 0 17672 6424016 87292018 88599530 290236646 307596196 7049100 7999374 637582000 652580000 252106000 235799000 385476000 416781000 X TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE WITHIN AND ACROSS BUSINESS AND THE ARTS AND SCIENCES. false false 137263294 86845980 237055000 *INSTRUCTION* FOUNDED IN 1917 AS THE BENTLEY SCHOOL OF ACCOUNTING AND FINANCE, BENTLEY UNIVERSITY PLACES VITAL EMPHASIS ON THE QUALITY OF ITS FACULTY AS DEDICATED TEACHERS/SCHOLARS. ACADEMICS ACROSS ALL DEPARTMENTS ARE COMMITTED TO ESTABLISHING EFFECTIVE TEACHING AND LEARNING RELATIONSHIPS WITH STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, WHILE SIMULTANEOUSLY PURSUING SCHOLARLY RESEARCH THAT CONTRIBUTE TO THEIR KNOWLEDGE AND THAT SUPPORT THE UNIVERSITY'S TEACHING MISSION. 42421000 56278000 *AUXILIARY ENTERPRISES* APPROXIMATELY 80% OF BENTLEY'S UNDERGRADUATE STUDENTS LIVE ON CAMPUS-PROVIDED HOUSING. RESIDENCE HALLS INCLUDE SINGLE, DOUBLE, TRIPLE, AND QUADRUPLE OCCUPANCY ROOMS AS WELL AS APARTMENTS AND SUITES. ALL OF THE RESIDENCE HALLS OFFER STUDENTS MODERN DAY AMENITIES. IN ADDITION, THE UNIVERSITY OFFERS RESIDENT STUDENTS SEVERAL DIFFERENT DINING OPTIONS FROM WHICH TO CHOOSE. 38043000 2837000 *STUDENT SERVICES* OUR MORE THAN 100 STUDENT ORGANIZATIONS PROVIDE COUNTLESS OPPORTUNITIES FOR INVOLVEMENT, LEARNING AND LEADERSHIP. THE OFFICE OF STUDENT ACTIVITIES, WORKING WITH THE ASSOCIATION OF BENTLEY ACTIVITIES (ABA), HELPS RECOGNIZE, SUPPORT AND MANAGE ALL OF OUR STUDENT ORGANIZATIONS AND VIBRANT COMMUNITY OF STUDENT LEADERS. 20155000 237882294 true true false true false false false true false true true true false false true true true false true false true false true false false false false true true true true false false false false false false false false false false true false false false false true true false false true 6196 0 true 2928 true true true false false false false false false false false false X 24 23 false false false false false false false true true false false true true true true true true true true false CA MA X X NANCY ANTUNES 7818912686 175 FOREST STREET WALTHAM MA 024524705 STEVEN MANFREDI CHAIRMAN 10.0 0.0 X X 0 0 0 ROBERT P BADAVAS VICE CHAIRMAIN 8.0 0.0 X X 0 0 0 ROBERT E ALAN TRUSTEE 2.0 0.0 X 0 0 0 THOMAS P ALBER TRUSTEE 1.0 0.0 X 0 0 0 KEVIN F ARMATA TRUSTEE 1.0 0.0 X 0 0 0 J TERENCE CARLETON TRUSTEE 2.0 0.0 X 0 0 0 J PAUL CONDRIN III TRUSTEE 2.0 0.0 X 0 0 0 STEVEN L DELVECCHIO TRUSTEE 1.0 0.0 X 0 0 0 CYNTHIA M DEYSHER TRUSTEE 2.0 0.0 X 0 0 0 JOYCE J ELAM TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM C FREDA TRUSTEE 2.0 0.0 X 0 0 0 DAVID L GIUNTA TRUSTEE 1.0 0.0 X 0 0 0 TANYA HAIRSTON WHITNER TRUSTEE 2.0 0.0 X 0 0 0 ANDREW J HAJDUCKY III TRUSTEE 2.0 0.0 X 0 0 0 W CARL KESTER TRUSTEE 2.0 0.0 X 0 0 0 FRANCIS F KINGSLEY TRUSTEE 1.0 0.0 X 0 0 0 DEBORAH A LEITCH TRUSTEE 2.0 0.0 X 0 0 0 I NORMAN MASSRY TRUSTEE 1.0 0.0 X 0 0 0 SUSAN G O'CONNELL TRUSTEE 1.0 0.0 X 0 0 0 MELANIE OTERO TRUSTEE 1.0 0.0 X 0 0 0 NICKOLAS STAVROPOULAS TRUSTEE 1.0 0.0 X 0 0 0 DAVID H WEENER TRUSTEE 1.0 0.0 X 0 0 0 BRIAN T ZINO TRUSTEE 2.0 0.0 X 0 0 0 GLORIA C LARSON PRESIDENT/TRUSTEE 65.0 0.0 X X 692407 0 746693 KENNETH CODY VP FOR ADMIN & FIN/TREASURER 40.0 0.0 X 411323 0 217258 CAROLINA FIGUEROA VP FOR ENROLLMENT MANAGEMENT 40.0 0.0 X 300307 0 55933 LYNNE ROSANSKY INTERIM PROVOST/VP ACAD AFFAIR 40.0 0.0 X 235000 0 0 J ANDREW SHEPARDSON VP FOR STUDENT AFFAIRS 40.0 0.0 X 275981 0 34468 JUDITH MALONE GENERAL COUNSEL & SECRETARY 40.0 0.0 X 258126 0 46983 MAUREEN FLORES VP FOR ADVANCEMENT 40.0 0.0 X 299487 0 50819 JEAN BEDARD PROFESSOR 40.0 0.0 X 387039 0 58820 M LYNNE MARKUS PROFESSOR 40.0 0.0 X 374565 0 36697 ROBERT WITTSTEIN CHIEF INFORMATION OFFICER 40.0 0.0 X 308091 0 29070 GOPAL KRISHNAN PROFESSOR 40.0 0.0 X 305574 0 52141 KARTIK RAMAN PROFESSOR 40.0 0.0 X 302770 0 47625 ROY WIGGINS III FORMER INTERIM CO-PROVOST/DEAN 40.0 0.0 X 346329 0 45513 DANIEL EVERETT FORMER INTERIM CO-PROVOST/DEAN 40.0 0.0 X 299536 0 54842 MICHAEL PAGE FORMER VP ACAD. AFFAIRS & PROV 40.0 0.0 X 368254 0 36697 WILLIAM TORREY FORMER VP FOR ADVANCEMENT 40.0 0.0 X 403595 0 27149 5568384 0 1540708 311 true true false SIERRA-CEDAR INC 1255 ALDERMAN DR ALPHARETTA GA 30005 CONSULTING 861222 ARCHITECTURAL RESOURCES CAMBRIDGE 501 BOYLSTON ST 4101 BOSTON MA 02116 ARCHITECT 745646 INCLINE ALCHEMY 12647 ALCOSTA BLVD SUITE 240 SAN RAMON CA 94583 CONSULTING 550000 ERNST YOUNG 50 ROWES WHARF BOSTON MA 02110 CONSULTING 525478 SIMPSON GUMPERTZ HEGER INC 41 SEYON STREET BUILDING 1 SUITE WALTHAM MA 02453 CONSULTING 447189 20 1297000 6375000 970459 7672000 TUITION AND FEES 900099 237055000 237055000 AUXILIARY 900099 55479977 54260006 1219971 CONFERENCE SERVICES 721000 711928 711928 NATATORIUM USE 713940 86095 86095 293333000 2778196 4033 2774163 0 0 0 0 0 27051000 18075626 8975374 8975374 64026 8911348 0 0 0 0 0 0 0 0 0 OTHER SOURCES 900099 2837000 2837000 2837000 315595570 294152006 866082 12905482 43980 43980 83826749 83826749 2975251 2975251 0 2918965 278635 2404020 236310 0 102190557 77746268 21703719 2740570 7388350 5074134 1593809 720407 13150422 9324700 2686037 1139685 6484720 4824261 1483392 177067 1804954 494288 1310666 385081 59540 325541 271663 271663 11818 11818 17672 17672 2569196 2569196 6126530 3763056 2094108 269366 2737332 2490389 166918 80025 5929840 4392061 1369099 168680 3236407 1866662 1297677 72068 0 13862348 13475937 381245 5166 937906 661857 96061 179988 0 5364747 3896133 1223620 244994 6892067 2753050 4139017 0 21399272 9556818 11842454 771831 93168 678663 PURCHASED SERVICES 9335295 4988752 4036661 309882 LEASING 1011775 933928 73745 4102 STUDY ABROAD 3868964 3868964 OTHER 2082504 493713 1530757 58034 307596196 237882294 63289886 6424016 0 0 60058000 36634000 3541552 2836737 1155986 1189007 0 0 0 0 6463000 5621000 0 0 1014371 2018025 540378803 230298056 287985000 310080747 200273695 216808697 71548305 72786052 0 0 0 0 5542091 4605735 637582000 652580000 33461000 28634000 0 0 7095000 7077000 174307000 170679000 0 0 0 0 0 0 0 0 37243000 29409000 252106000 235799000 X 271300000 295662000 63836000 68561000 50340000 52558000 385476000 416781000 637582000 652580000 X 7999374 16436626 6869000 X false true X true true true X 8412000 5741000 8194000 8993000 7672000 39012000 0 0 8412000 5741000 8194000 8993000 7672000 39012000 950833 38061167 3142884 3361580 3134178 3741646 2774163 16154451 37467 56024 93491 1570000 1386000 1395000 1744000 2837000 8932000 64191942 1359632303 0.59293 0.60170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 11818 11818 false LOBBYING EXPENSES PART II-B, LINE 1I BENTLEY UNIVERSITY PAYS MEMBERSHIP DUES TO VARIOUS EDUCATIONAL ASSOCIATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES ON BEHALF OF THEIR MEMBERS, AND THEREFORE THE DUES CREATE INDIRECT LOBBYING EXPENSES FOR THE UNIVERSITY. THE PORTION OF MEMBERSHIP FEES ALLOCABLE TO LOBBYING ACTIVITIES WAS $11,818 FOR THE YEAR ENDED JUNE 30, 2018. 279965 X false 262996000 3228000 24826000 2871841 8453096 279725063 241944000 4311000 27397000 2889744 7766256 262996000 256630000 2448000 -6853000 3017346 7263654 241944000 258462000 2083000 5827000 2530302 7211698 256630000 217933000 6821000 43058000 2415681 6934319 258462000 0.60000 0.18000 0.22000 false false 31870765 31870765 454958801 188494222 266464579 50750815 41803834 8946981 2798422 2798422 310080747 HEDGE FUNDS 52009700 F PARTNERSHIPS 20776352 F 72786052 0 INTEREST RATE SWAP AGREEMENTS 16154000 POST RETIREMENT BENEFITS 8383000 REFUNDABLE U.S GOVERNMENT GRANTS 4872000 29409000 X 336332000 16436626 6869000 23305626 313026374 2569196 2569196 315595570 305027000 305027000 2569196 2569196 307596196 COLLECTIONS OF ART PART III, LINE 3 THE UNIVERSITY OWNS A MODERN COLLECTION OF ABOUT 30 PAINTINGS AND SCULPTURES THAT APPEAR IN PUBLIC COMMON AREAS THROUGHOUT THE CAMPUS, IN CONFERENCE ROOMS, AND IN THE PRESIDENT'S HOUSE. THE COLLECTION SEEKS TO ENRICH CAMPUS CULTURAL LIFE IN GENERAL, INCREASE THE EDUCATIONAL SCOPE AND OPPORTUNITY FOR APPRECIATION OF THE ARTS BY UNIVERSITY STUDENTS, AND CONTRIBUTE TO THE CULTURAL ENRICHMENT OF THE SURROUNDING COMMUNITY. ENDOWMENT FUNDS PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT PROVIDES FOR SCHOLARSHIPS TO STUDENTS, SUPPORT FOR ACADEMIC PROGRAMS, AND SUPPORT FOR PROGRAM ACTIVITIES. IN ADDITION, QUASI ENDOWMENT REPRESENTS 60% OF ENDOWMENT. THIS AMOUNT IS INVESTED AND THE EARNINGS ARE USED TO SUPPORT UNIVERSITY OPERATIONS. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE UNIVERSITY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2018 OR 2017. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS $6,113,000 OTHER NONOPERATING ACTIVITIES $756,000 TOTAL $6,869,000 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 BENTLEY UNIVERSITY DOES NOT DISCRIMINATE IN ADMISSION OR ACCESS TO, OR TREATMENT OR EMPLOYMENT IN ANY OF ITS EDUCATIONAL PROGRAMS OR ACTIVITIES, INCLUDING SCHOLARSHIPS, LOANS, AND ATHLETICS, ON THE BASIS OF RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY AND/OR EXPRESSION, MARITAL STATUS, AGE, NATIONAL ORIGIN, CITIZENSHIP STATUS, DISABILITY, GENETIC INFORMATION, MILITARY OR VETERAN STATUS. BENTLEY UNIVERSITY MAINTAINS AND SUPPORTS AFFIRMATIVE ACTION PLANS FOR ITS WORKPLACE IN COMPLIANCE WITH FEDERAL LAW. EQUAL OPPORTUNITY EXTENDS TO ALL ASPECTS OF THE EMPLOYMENT RELATIONSHIP, INCLUDING HIRING, PROMOTIONS, TRAINING, WORKING CONDITIONS, COMPENSATION AND BENEFITS. BENTLEY UNIVERSITY'S POLICIES AND PRACTICES REFLECT THE UNIVERSITY'S COMMITMENT TO NONDISCRIMINATION IN ALL AREAS OF EMPLOYMENT. THE UNIVERSITY COMPLIES WITH TITLE VI OF THE CIVIL RIGHTS ACT, TITLE IX OF THE EDUCATION AMENDMENTS ACT, SECTION 504 OF THE REHABILITATION ACT AND REVENUE PROCEDURE 75-50 PROHIBITING SUCH DISCRIMINATION. ANYONE BELIEVING THAT HE OR SHE HAS EXPERIENCED ADVERSE TREATMENT MAY REGISTER A COMPLAINT WITH THE SPECIAL ASSISTANT TO THE PRESIDENT, AT 781.891.2907. THE UNIVERSITY PUBLISHES ITS NONDISCRIMINATION POLICY ON ITS WEBSITE AND IN THE STUDENT HANDBOOK. FINANCIAL AID AND GOVERNMENTAL ASSISTANCE SCHEDULE E, LINE 6A THE UNIVERSITY PARTICIPATES IN THE TITLE IV PROGRAM FOR CAMPUS WORK STUDY, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, THE PERKINS LOAN PROGRAM, DIRECT LENDING, AND PELL GRANTS. THE UNIVERSITY PROVIDES FINANCIAL AID FUNDS TO THE STUDENTS BASED ON GENERALLY ACCEPTED UNIFORM NON-DISCRIMINATORY METHODOLOGY. true East Asia and the Pacific Program Services STUDY ABROAD 1219696 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 4441677 South America Program Services STUDY ABROAD 107883 Sub-Saharan Africa Program Services STUDY ABROAD 117831 Central America and the Caribbean Investments 14639144 East Asia and the Pacific Investments 608194 Europe (Including Iceland and Greenland) Investments 1563874 22698299 22698299 SCHOLARSHIP ASSISTANCE East Asia and the Pacific 49 626695 ACCT CREDIT SCHOLARSHIP ASSISTANCE Europe (Including Iceland and Greenland) 172 2274061 ACCT CREDIT SCHOLARSHIP ASSISTANCE Sub-Saharan Africa 2 40800 ACCT CREDIT SCHOLARSHIP ASSISTANCE South America 2 33695 ACCT CREDIT true false true true true true MONITORING THE USE OF GRANT FUNDS OUTSIDE THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS WHO WISH TO STUDY ABROAD. THESE AMOUNTS ARE APPLIED TO THE STUDENT'S ACCOUNT AND ARE USED TO OFFSET HIS OR HER COST OF THE PROGRAM. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. BASIS OF ACCOUNTING PART I, LINE 3 THE BASIS OF ACCOUNTING ON THE FINANCIAL STATEMENTS IS ACCRUAL. true MA CONFERENCE FOR WOMEN PO BOX 55071 BOSTON MA 02205 202699177 501(C)(3) 25000 SPONSORSHIP The Greater Boston Chamber of Commerce 265 Franklin St 1700 Boston MA 02110 041103090 501(c)(6) 14500 SPONSORSHIP 1 1 SCHOLARSHIP ASSISTANCE 3342 83826749 MONITORING THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDED FINANCIAL SUPPORT TO THE MASSACHUSETTS CONFERENCE FOR WOMEN AND THE GREATER BOSTON CHAMBER OF COMMERCE. THESE ENTITIES PROVIDE OPPORTUNITIES FOR BUSINESS NETWORKING, PROFESSIONAL DEVELOPMENT, EDUCATION, AND PERSONAL GROWTH FOR WOMEN. PART III THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. MANY SCHOLARSHIPS ARE BASED ON CRITERIA SUCH AS ACADEMIC STRENGTH, ATHLETIC ABILITY, AND LEADERSHIP OR COMMUNITY SERVICE. NON-NEED-BASED SCHOLARSHIP FUNDING IS AWARDED THROUGH THE ADMISSIONS PROCESS AND USUALLY HAS A GRADE POINT AVERAGE (GPA) OR OTHER REQUIREMENT FOR RENEWAL IN SUBSEQUENT YEARS. TYPES OF MERIT SCHOLARSHIPS INCLUDE THE TRUSTEE SCHOLARSHIP, THE PRESIDENT'S SCHOLARSHIP AND THE INTERNATIONAL SCHOLARSHIP. THE UNIVERSITY ALSO OFFERS GRANT FUNDS THAT ARE AWARDED BASED ON FINANCIAL NEED AND DO NOT HAVE TO BE REPAID. THE OFFICE OF FINANCIAL ASSISTANCE DETERMINES THE TOTAL AMOUNT OF A STUDENT'S NEED-BASED GRANT FUNDING ACCORDING TO FEDERAL AND INSTITUTIONAL FORMULAS. TYPES OF NEED BASED GRANTS INCLUDE BENTLEY SCHOLARSHIPS, AS WELL AS FEDERAL AND STATE SOURCES. ALL SCHOLARSHIP AMOUNTS ARE AUTOMATICALLY CREDITED TO THE INDIVIDUAL'S STUDENT ACCOUNT. X X X true true X X X X X X false false false false false false false true false GLORIA C LARSON PRESIDENT/TRUSTEE 540304 0 140000 0 12103 0 673728 0 72965 0 1439100 0 0 0 KENNETH CODY VP FOR ADMIN & FIN/TREASURER 377166 0 30000 0 4157 0 205990 0 11268 0 628581 0 0 0 CAROLINA FIGUEROA VP FOR ENROLLMENT MANAGEMENT 283542 0 15000 0 1765 0 27000 0 28933 0 356240 0 0 0 LYNNE ROSANSKY INTERIM PROVOST/VP ACAD AFFAIR 235000 0 0 0 0 0 0 0 0 0 235000 0 0 0 J ANDREW SHEPARDSON VP FOR STUDENT AFFAIRS 243958 0 30000 0 2023 0 24586 0 9882 0 310449 0 0 0 JUDITH MALONE GENERAL COUNSEL & SECRETARY 233735 0 20000 0 4391 0 23971 0 23012 0 305109 0 0 0 MAUREEN FLORES VP FOR ADVANCEMENT 259916 0 10000 0 29571 0 27000 0 23819 0 350306 0 0 0 ROY WIGGINS III FORMER INTERIM CO-PROVOST/DEAN 341771 0 0 0 4558 0 27000 0 18513 0 391842 0 0 0 DANIEL EVERETT FORMER INTERIM CO-PROVOST/DEAN 294142 0 0 0 5394 0 27000 0 27842 0 354378 0 0 0 MICHAEL PAGE FORMER VP ACAD. AFFAIRS & PROV 363935 0 0 0 4319 0 27000 0 9697 0 404951 0 0 0 WILLIAM TORREY FORMER VP FOR ADVANCEMENT 300000 0 30000 0 73595 0 27000 0 149 0 430744 0 0 0 JEAN BEDARD PROFESSOR 381630 0 0 0 5409 0 27000 0 31820 0 445859 0 0 0 M LYNNE MARKUS PROFESSOR 365723 0 3000 0 5842 0 27000 0 9697 0 411262 0 0 0 ROBERT WITTSTEIN CHIEF INFORMATION OFFICER 289435 0 15000 0 3656 0 27000 0 2070 0 337161 0 0 0 GOPAL KRISHNAN PROFESSOR 301761 0 0 0 3813 0 27000 0 25141 0 357715 0 0 0 KARTIK RAMAN PROFESSOR 298988 0 2000 0 1782 0 25327 0 22298 0 350395 0 0 0 PART I, LINE 1A The university provides on campus housing for its president for the convenience of the university; estimated monthly rental charge is $4,000 or $48,000 annually, and is included as a nontaxable benefit in Column D. In addition, estimated personal costs related to house cleaning and cable services for the house are $3,400 and $1,850, respectively, which are included in taxable income. During the year, the University provided a car service to the President to be used for business purposes. The amount paid for commercial car services during calendar year 2017 was $15,600 and is not included in the President's taxable wages as the car service was used only to conduct University business. The University provides a housing allowance to William Torrey. This amount is included in his taxable income. The University will occassionally approve first class travel for Trustees or Officers when the travel is within the guidelines of the University's travel policy. Non-Fixed Payments Part I, Line 7 Pursuant to her employment contract, the President shall be considered annually, by the Compensation Committee of the Board of Trustees, for a bonus with a target of 15% and a maximum of 30% of the base salary. The amount of the bonus shall be determined by the Compensation Committee based on its assessment of the President's performance and that of Bentley University against appropriate goals established annually by the Compensation Committee. The Compensation Committee, in its sole discretion may determine not to award a bonus for any given year. Cody, Figueroa, Shepardson, Malone, Flores, and Torrey received bonus payments. The bonuses are awarded based on recommendations made by the President and are approved by the Compensation Committee with the rationale based upon her assessment of the individual's performance. Markus, Wittstein and Raman also received bonus payments during the year based on recommendation made by management and approved by a Vice President. Part II During the year ended June 30, 2018, Lynne Rosansky served as Interim Provost and Vice President for Academic Affairs pursuant to a contract with Collegiate Enterprise Solutions LLC (CES), an organization specializing in the placement of high-level academic administrators on an interim basis. Amounts reported as compensation to Ms. Rosansky include only the portion of fees paid to CES directly attributable to services performed by Ms. Rosansky and do not include any additional fees to CES paid per the contract. GLORIA LARSON HAS AN ADMINISTRATIVE SABBATICAL UPON RETIREMENT IN HER EMPLOYMENT CONTRACT. MS. LARSON RETIRED AS OF JUNE 30, 2018, AT WHICH POINT THE ONE YEAR SABBATICAL BEGAN. FOR THE YEAR ENDED JUNE 30, 2018, THE AMOUNT OF THE SABBATICAL HAS BEEN REPORTED IN PART II, COLUMN C. KENNETH CODY HAS AN ADMINISTRATIVE SABBATICAL IN HIS EMPLOYMENT CONTRACT. PER AN AMENDED EMPLOYMENT AGREEMENT IN FEBRUARY 2018, THE REMAINDER OF THE ADMINISTRATIVE SABBATICAL IS REPORTED IN PART II, COLUMN C. A MDFA SERIES 2013A 043431814 000000000 2013-12-10 71143000 REFINANCING/CAPITAL PROJECTS false false false B MDFA SERIES 2013B 043431814 000000000 2013-12-10 37157000 REFINANCING false false false C MDFA SERIES 2010 043431814 57583R2N4 2010-09-16 41816878 REFUNDING SERIES J 1998 true false false D MDFA SERIES 2016 043431814 57584XKJ9 2016-03-08 40434302 RENOVATE JENNISON & RES HALLS false false false A 7000000 0 71143000 0 0 0 504913 0 0 11013906 59624181 0 2015 true false true true B 0 0 37157000 0 0 0 0 0 0 0 37157000 0 2013 true false true true C 10010000 21080000 41816878 0 0 0 454697 0 0 0 41362181 0 2010 true false true true D 0 0 40434302 0 0 0 434302 0 0 0 40000000 0 false false true true A false true true true false 0.01020 0.01020 false false false true B false true true true false 0.00550 0.00550 false false false true C 0 D false true true true false 0 false false false true A false true true false true false 0 false 0 false true B false false true false true false 0 false 0 false true C false false true false false false 0 false 0 false true D false true false false true false 0 false 0 false true A true B true C true D true PART IV, LINE 2 COLUMN A - MDFA SERIES 2013A THE MDFA SERIES 2013A WAS COMPRISED OF BOTH A PARTIAL REFUNDING AND A PARTIAL ISSUE OF NEW DEBT. THE REFUNDING PORTION OF THE BOND MEETS THE 6-MONTH EXCEPTION OF THE REBATE REQUIREMENT, AS THE GROSS PROCEEDS WERE SPENT WITHIN 6 MONTHS OF THE ISSUE DATE. THE FIRST REBATE CALCULATION FOR THE NEW MONEY PORTION IS DUE JUNE 30, 2019. COLUMN B AND C - MDFA SERIES 2013B AND MDFA SERIES 2010 THE MDFA SERIES 2013B AND MDFA SERIES 2010 BOND ISSUES MEET THE 6-MONTH EXCEPTION OF THE REBATE REQUIREMENT, AS THE GROSS PROCEEDS FROM BOTH BOND ISSUES WERE SPENT WITHIN 6 MONTHS OF THE ISSUE DATES. COLUMN D - MDFA SERIES 2016 THE FIRST REBATE CALCULATION FOR THE MDFA SERIES 2016 BOND ISSUE IS DUE JUNE 30, 2020. A MDFA SERIES 2017 043431814 57584X5U1 2017-12-21 22901422 REFUNDING MDFA SERIES 2010 false false false A 0 0 22901422 0 0 0 332544 0 0 0 22568878 0 2018 false true true true A false true true true false 0 false false false true A false true false false false false 0 false 0 false true A true X 28 970459 FMV false true false NONCASH CONTRIBUTIONS PART I, LINE 9 AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 BENTLEY UNIVERSITY IS ONE OF THE NATION'S LEADING BUSINESS SCHOOLS, DEDICATED TO PREPARING A NEW KIND OF BUSINESS LEADER AND ONE WITH THE DEEP TECHNICAL SKILLS, THE BROAD GLOBAL PERSPECTIVE AND THE HIGH ETHICAL STANDARDS REQUIRED TO MAKE A DIFFERENCE IN AN EVER-CHANGING WORLD. TO ACHIEVE OUR GOAL, WE INFUSE OUR ADVANCED BUSINESS CURRICULUM WITH THE RICHNESS OF A LIBERAL ARTS EDUCATION. THE RESULTS ARE GRADUATES WHO ARE MAKING AN IMPACT IN THEIR CHOSEN FIELDS AND TURNING THEIR PASSIONS INTO SUCCESS STORIES. LOCATED ON A CLASSIC NEW ENGLAND CAMPUS JUST MINUTES FROM BOSTON, BENTLEY IS A DYNAMIC COMMUNITY OF LEADERS, SCHOLARS AND CREATIVE THINKERS. BENTLEY UNIVERSITY ENJOYS A STRONG POSITION IN MANY MAJOR RANKINGS AND LISTS INCLUDING: U.S. NEWS & WORLD REPORT, BLOOMBERG BUSINESS WEEK, THE PRINCETON REVIEW AND MANY OTHER NATIONAL PUBLICATIONS. UNDERGRADUATE AND GRADUATE BUSINESS PROGRAMS AT BENTLEY UNIVERSITY ARE ACCREDITED BY AACSB INTERNATIONAL (THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS). THE UNIVERSITY IS ALSO ACCREDITED BY THE NEW ENGLAND ASSOCIATIONS OF SCHOOLS AND COLLEGES INC. (NEASC). THESE ACCREDITATIONS INDICATE THAT BENTLEY UNIVERSITY MEETS OR EXCEEDS ESTABLISHED STANDARDS AS DETERMINED BY PERIODIC AACSB PEER GROUP REVIEW. IN ADDITION, BENTLEY UNIVERSITY IS ONE OF ONLY THREE BUSINESS SCHOOLS IN THE U.S. AND 130 BUSINESS SCHOOLS WORLDWIDE, TO EARN EUROPEAN QUALITY IMPROVEMENT SYSTEM (EQUIS) ACCREDITATION. EQUIS IS THE LEADING INTERNATIONAL SYSTEM OF QUALITY ASSESSMENT, IMPROVEMENT, AND ACCREDITATION OF HIGHER EDUCATION INSTITUTIONS IN MANAGEMENT AND BUSINESS ADMINISTRATION. OTHER PROGRAM SERVICES PART III, LINE 4D BENTLEY'S BUSINESS-ORIENTED HIGH-TECH CENTERS AND LEARNING FACILITIES GIVE STUDENTS HANDS-ON EXPERIENCE WITH THE LATEST HARDWARE AND SOFTWARE IN FINANCE, INFORMATION SYSTEMS, MARKETING, ACCOUNTING, AND LANGUAGES. OUR ACADEMIC CENTERS ENRICH STUDENTS WITH RESOURCES AND THOUGHT LEADERSHIP IN ARTS, ETHICS, INTERNATIONAL EDUCATION, AND SERVICE OPPORTUNITIES. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 A FULL AND COMPLETE COPY OF THE FORM 990 AND ALL ITS ACCOMPANYING SCHEDULES WAS SENT ELECTRONICALLY TO THE UNIVERSITY'S TRUSTEE AUDIT COMMITTEE IN APRIL FOR ITS REVIEW. UPON COMPLETION OF THAT REVIEW IN EARLY MAY, THE COMPLETE FORM 990 WAS MADE AVAILABLE TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES AND SENIOR MANAGEMENT MAY, FROM TIME TO TIME, BE ASSOCIATED, EITHER DIRECTLY OR INDIRECTLY, WITH COMPANIES DOING BUSINESS WITH THE UNIVERSITY. THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES MAY PARTICIPATE IN ANY DECISION IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. EACH TRUSTEE IS REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AS WELL AS DISCLOSE ANY POTENTIAL RELATED-PARTY TRANSACTIONS TO THE AUDIT COMMITTEE. WHEN SUCH A RELATIONSHIP EXISTS, THE UNIVERSITY REQUIRES THAT SUCH TRANSACTIONS BE CONDUCTED AT ARM'S LENGTH, WITH TERMS THAT ARE FAIR AND REASONABLE TO THE UNIVERSITY. FOR SENIOR MANAGEMENT, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN, OR GOVERNANCE OF EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH, ENTITIES DOING BUSINESS WITH THE UNIVERSITY. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE THE ACTUAL OR PERCEIVED CONFLICT IN THE BEST INTEREST OF THE UNIVERSITY. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 SALARY AND BENEFIT COMPENSATION ARRANGEMENTS FOR THE PRESIDENT AND ALL OFFICERS ARE REVIEWED AND APPROVED IN ADVANCE OF ANY PAYMENT BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES WHO IS INDEPENDENT OF MANAGEMENT AND FREE OF ANY CONFLICTS OF INTEREST THAT WOULD INTERFERE WITH THEIR EXERCISE OF INDEPENDENT JUDGMENT. THE COMPENSATION COMMITTEE REVIEWS OTHER NON-PROFIT ORGANIZATIONS' FORMS 990, GENERAL SALARY SURVEYS AND STUDIES, AND THEN SUBMITS ITS RECOMMENDATIONS FOR APPROVAL BY THE FULL BOARD. IN ADDITION, THE UNIVERSITY PERIODICALLY ENGAGES AN INDEPENDENT PARTY THAT REVIEWS SALARY INFORMATION AND REPORTS RESULTS TO THE COMPENSATION AND BENEFITS COMMITTEE OF THE BOARD OF TRUSTEES. DETAIL OF ALL DISCUSSIONS OF THE TRUSTEE COMPENSATION COMMITTEE IS CONTEMPORANEOUSLY DOCUMENTED. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE UNIVERSITY'S PRESIDENT AND ALL OFFICERS IS REASONABLE AND SATISFIES THE REBUTTABLE PRESUMPTION OF TREASURY REGULATION SECTION 53.4958-6. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S PRINCIPAL GOVERNING DOCUMENTS, INCLUDING THE ARTICLES OF INCORPORATION AND BY-LAWS, ARE FILED WITH THE MASSACHUSETTS SECRETARY OF STATE AND THEREFORE AVAILABLE TO THE PUBLIC. THE UNIVERSITY'S FINANCIAL STATEMENTS ARE POSTED ON THE UNIVERSITY'S WEBSITE FOR PUBLIC VIEWING. REGARDING CONFLICT OF INTEREST, THE INDIVIDUAL FORMS SIGNED BY TRUSTEES AND OFFICERS ARE NOT AVAILABLE FOR PUBLIC INSPECTION BUT THE UNIVERSITY'S FINANCIAL STATEMENTS DO INCLUDE A FOOTNOTE DISCUSSING RELATED-PARTY TRANSACTIONS. THE CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. OTHER CHANGES IN NET ASSETS OR FUND BALANCES 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $6,113,000 OTHER NONOPERATING ACTIVITIES $756,000 TOTAL $6,869,000 CHARITABLE REMAINDER ANNUITY TRUST (2) 175 FOREST ST WALTHAM MA 02452 CRAT MA BENTLEY Trust true CHARITABLE REMAINDER UNITRUST (5) 175 FOREST ST WALTHAM MA 02452 CRUT MA BENTLEY Trust true HIGHVISTA PARTNERS (OFFSHORE) PO BOX 2681GT GRAND CAYMAN CJ INVESTMENTS CJ HIGHVISTA C CORP 729201 16875507 0.51100 true false false false false false false false false false false false false false false false false false false false PART IV, LINE 3 THE UNIVERSITY IS INVESTED IN HIGHVISTA HFS PARTNERS (OFFSHORE). BENTLEY UNIVERSITY HOLDS 51.1% OF NONVOTING STOCK IN HIGHVISTA HFS PARTNERS AND HIGHVISTA GP IV HOLDS 100% OF VOTING STOCK.