2018-05-10T12:18:29-00:00 2017-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2016-07-01 041081650 BENTLEY UNIVERSITY BENT 7818912000 175 FOREST STREET WALTHAM MA 024524705 KENNETH B CODY VP FOR ADMINFINTREASURER 7818912887 2018-05-10 true Shyamalee Joseph 6179881000 2018-05-10 2016 2022-09-23 18:48:47Z KENNETH CODY 175 FOREST STREET WALTHAM MA 024524705 337604646 false X WWW.BENTLEY.EDU X 1917 MA TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE. 23 22 2928 325 751870 14381 8194000 8993000 271229000 278977000 6848354 7571746 1395000 1744000 287666354 297285746 75329000 78690000 0 117849498 124254628 11663 0 6263000 85424447 87292018 278614608 290236646 9051746 7049100 605339000 637582000 258825000 252106000 346514000 385476000 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 140244976 78690000 225001000 INSTRUCTION SEE SCHEDULE O 42518000 49180000 AUXILIARY ENTERPRISES - SEE SCHEDULE O 37568000 1744000 STUDENT SERVICES - SEE SCHEDULE O 18822000 4796000 239152976 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 true false true 6196 0 true 2928 true true true false false false false false false false false false false X 23 22 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 P MANFREDI CHAIRMAN 010.00 X X 0 0 0 ROBERT P BADAVAS VICE CHAIRMAN 008.00 X X 0 0 0 ROBERT E ALAN TRUSTEE 001.00 X 0 0 0 THOMAS P ALBER TRUSTEE 001.00 X 0 0 0 KEVIN F ARMATA TRUSTEE 001.00 X 0 0 0 J TERENCE CARLETON TRUSTEE 002.00 X 0 0 0 J PAUL CONDRIN III TRUSTEE 001.00 X 0 0 0 STEPHEN L DELVECCHIO TRUSTEE 001.00 X 0 0 0 CYNTHIA M DEYSHER TRUSTEE 002.00 X 0 0 0 JOYCE J ELAM TRUSTEE 001.00 X 0 0 0 WILLIAM C FREDA TRUSTEE 002.00 X 0 0 0 DAVID L GIUNTA TRUSTEE 001.00 X 0 0 0 TANYA HAIRSTON WHITNER TRUSTEE 002.00 X 0 0 0 ANDREW J HAJDUCKY III TRUSTEE 002.00 X 0 0 0 W CARL KESTER TRUSTEE 002.00 X 0 0 0 FRANCIS F KINGSLEY TRUSTEE 001.00 X 0 0 0 DEBORAH A LEITCH TRUSTEE 001.00 X 0 0 0 I NORMAN MASSRY TRUSTEE 002.00 X 0 0 0 SUSAN G O'CONNELL TRUSTEE 001.00 X 0 0 0 NICKOLAS STAVROPOULOS TRUSTEE 001.00 X 0 0 0 DAVID H WEENER TRUSTEE 001.00 X 0 0 0 BRIAN T ZINO TRUSTEE 002.00 X 0 0 0 GLORIA C LARSON PRESIDENT/TRUSTEE 065.00 X X 653329 0 93401 KENNETH B CODY VICE PRESIDENT 040.00 X 385680 0 58937 JUDITH A MALONE GENERAL COUNSEL 040.00 X 240610 0 39550 J ANDREW SHEPARDSON VICE PRESIDENT 040.00 X 259822 0 29795 WILLIAM A TORREY VICE PRESIDENT 040.00 X 439379 0 28535 ROY WIGGINS III INTERIM CO-VP/PROVOST 040.00 X 313192 0 45013 DANIEL EVERETT INTERIM CO-VP/PROVOST 040.00 X 279604 0 43769 CAROLINA FIGUEROA VICE PRESIDENT 040.00 X 59976 0 4117 JEAN BEDARD PROFESSOR 040.00 X 379408 0 44032 MARTIN CONYON PROFESSOR 040.00 X 258732 0 25585 JANE FEDORWICZ PROFESSOR 040.00 X 308427 0 41083 ROBERT GALLIERS PROFESSOR 040.00 X 437988 0 26980 RANI HOITASH PROFESSOR 040.00 X 251739 0 40763 JOANN C MCKENNA VICE PRESIDENT 040.00 X 339083 0 29669 MICHAEL J PAGE VP/PROVOST 040.00 X 390061 0 35040 4997030 586269 234 true true false GRANT THORNTON LLP 75 STATE ST BOSTON MA 02109 CONSULTANT 274435 KPMG 60 SOUTH ST BOSTON MA 02111 CONSULTANT 234725 CSL CONSULTING 30 NORTH AVE BURLINGTON MA 01803 CONSULTANT 565005 THE BOSTON CONSORTIUM 440 TOTTEN POND RD WALTHAM MA 02451 CONSULTANT 314495 INKHOUSE LLC 260 CHARLES ST WALTHAM MA 02453 CONSULTANT 260000 11 1274000 7719000 1373944 8993000 TUITION AND FEES 900099 225001000 225001000 AUXILIARY 900099 53211071 52019105 1191966 CONFERENCE SERVICES 721000 640996 640996 SWIMMING POOL USE 713990 123933 123933 278977000 3623420 -13059 3636479 118226 118226 44149000 40318900 3830100 3830100 3830100 OTHER SOURCES 900099 1744000 1744000 1744000 297285746 278764105 751870 8776771 27761 27761 75357568 75357568 3304671 3304671 0 4380415 783187 3031854 565374 0 94835149 72851529 19192036 2791584 7099915 5102799 1651022 346094 11723587 7040002 4043940 639645 6215562 4552454 1390815 272293 2059548 590030 1469518 415944 160088 255856 386040 386040 3389 3389 2326646 2326646 7237914 4801985 2435929 2794723 2461064 270127 63532 6240563 4693976 1216138 330449 0 0 13368936 13144342 221623 2971 1662117 1298065 130890 233162 0 3597489 2302791 1025433 269265 6832071 6545787 286284 0 20608403 19888006 720397 838828 67106 771722 Purchased Services 10991753 5891034 4385155 715564 Leasing and Rentals 1702181 1619142 71452 11587 Study Abroad 4334117 4334117 Student Organizations 1573364 1573364 317992 762108 -465596 21480 290236646 239152976 44820670 6263000 58829000 60058000 3187231 3541552 596255 1155986 7243000 6463000 1450104 1014371 504913000 216928000 248369000 287985000 186946198 200273695 63611802 71548305 35106410 5542091 605339000 637582000 26580000 33461000 6931000 7095000 177957000 174307000 47357000 37243000 258825000 252106000 X 241974000 271300000 56775000 63836000 47765000 50340000 346514000 385476000 605339000 637582000 X 7049100 22497900 9415000 X false true X true true true X 8241000 8412000 5741000 8194000 8993000 39581000 8241000 8412000 5741000 8194000 8993000 39581000 493940 39087060 3047645 3142884 3361580 3134178 3741646 16427933 53075 37467 90542 1705000 1570000 1386000 1395000 1744000 7800000 63899475 1311009884 0.60170 0.60010 X 0.00000 0.00000 Part II Section B Line 10 Other income is comprised of miscellaneous revenue including forfeited deposits, dorm damage fines, and other miscellaneous fees and fines. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true 3389 3389 false II-B II 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 3,389 FOR THE YEAR ENDED JUNE 30, 2017. 279965 X false 241944000 4311000 27397000 2889744 7766256 262996000 256630000 2448000 -6853000 3017346 7263654 241944000 258462000 2083000 5827000 2530302 7211698 256630000 217933000 6821000 43058000 2415681 6934319 258462000 192708000 7747000 26113000 2267487 6367513 217933000 0.60000 0.18000 0.22000 false false 31871000 31871000 398066000 172456576 225609424 48947000 44471424 4475576 26029000 26029000 287985000 Financial derivatives and other financial products Closely-held equity interests Hedge Funds 44671044 F Partnerships 26877261 F 71548305 Federal income taxes INTEREST RATE SWAP AGREEMENTS 22267000 POST RETIREMENT BENEFITS 8923000 REFUNDABLE U.S. GOVERNMENT GRANTS 6053000 37243000 X 326872000 22497900 9415000 31912900 294959100 2326646 2326646 297285746 287910000 287910000 2326646 2326646 290236646 III 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 PRESIDENTS 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. V 4 THE UNIVERSITYS 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. X 2 THE UNIVERSITY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501c3 OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501a OF THE CODE. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT FOR ACTIVITIES OUTSIDE ITS EXEMPT PURPOSE. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2017 OR 2016. XI 2D REVENUE INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON FORM 990 INCLUDES CHANGE IN FAIR VALUE OF INTEREST RATE SWAP OF 9,761,000 AND OTHER NONOPERATING ACTIVITIES 346,000. THE TOTAL FOR LINE 2D IS 9,415,000. true true true true true true true false false false false false false false false true false true 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 UNIVERSITYS POLICIES AND PRACTICES REFLECT THE UNIVERSITYS 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/OMBUDSMAN AT 781.891.2907. THE UNIVERSITY PUBLISHES ITS NONDISCRIMINATION POLICY ON ITS WEBSITE AND IN THE STUDENT HANDBOOK. 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 746775 Europe Including Iceland and Greenland PROGRAM SERVICES STUDY ABROAD 4391612 South America PROGRAM SERVICES STUDY ABROAD 100206 Sub-Saharan Africa PROGRAM SERVICES STUDY ABROAD 167686 Central America and the Caribbean INVESTMENTS 23567775 East Asia and the Pacific INVESTMENTS 567645 Europe Including Iceland and Greenland INVESTMENTS 592326 30134025 30134025 Scholarship Assistance East Asia and the Pacific 46 588960 student account credit Scholarship Assistance Europe Including Iceland and Greenland 194 2625278 student account credit Scholarship Assistance Sub-Saharan Africa 2 29175 student account credit Scholarship Assistance South America 3 61258 student account credit true false true true true Part I Line 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS WHO WISH TO STUDY ABROAD. THESE AMOUNTS ARE APPLIED TO THE STUDENTS ACCOUNT AND ARE USED TO OFFSET HIS OR HER COST OF THE PROGRAM. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. 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 501c3 20000 SPONSORSHIP 2020 WOMEN ON BOARDS PO BOX 301095 JAMAICA PLAIN MA 02130 273272688 501c3 5261 SPONSORSHIP 2 SCHOLARSHIP ASSISTANCE 2814 75357568 Part I Line 2 THE UNIVERSITY PROVIDED FINANCIAL SUPPORT TO THE MASSACHUSETTS CONFERENCE FOR WOMEN AND 2020 WOMEN ON BOARDS. 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 PRESIDENTS 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 STUDENTS 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 INDIVIDUALS 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 508292 132500 12537 26500 66901 746730 KENNETH B CODY VICE PRESIDENT 356523 25000 4157 56211 2726 444617 JUDITH A MALONE GENERAL COUNSEL 216908 20000 3702 22528 17022 280160 JOANN C MCKENNA VICE PRESIDENT 284872 50000 4211 26500 3169 368752 MICHAEL J PAGE VP/PROVOST 361557 25000 3504 26500 8540 425101 J ANDREW SHEPARDSON VICE PRESIDENT 228577 30000 1245 23034 6761 289617 WILLIAM A TORREY VICE PRESIDENT 330547 25000 83832 26500 2035 467914 ROY WIGGINS III INTERIM CO-VP/PROVOST 280932 20000 12260 26500 18513 358205 DANIEL EVERETT INTERIM CO-VP/PROVOST 254819 20000 4785 26357 17412 323373 JEAN BEDARD PROFESSOR 304338 75070 26500 17532 423440 MARTIN CONYON PROFESSOR 247500 11232 24750 835 284317 JANE FEDORWICZ PROFESSOR 239930 68497 24594 16489 349510 ROBERT GALLIERS PROFESSOR 355790 82198 26500 480 464968 RANI HOITASH PROFESSOR 236369 15370 24719 16044 292502 Part I Line 1 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 DRY CLEANING IS 799 AND TO MAID AND CABLE SERVICES FOR THE HOUSE ARE 5,038 AND 1,808, RESPECTIVELY, WHICH ARE INCLUDED IN TAXABLE INCOME. Part I Line 1 DURING THE YEAR, THE UNIVERSITY PROVIDED A CAR SERVICE TO THE PRESIDENT TO BE USED FOR BUSINESS PURPOSES. THE AMOUNT PAID FOR CAR SERVICES DURING CALENDAR YEAR 2016 WAS 14,561 AND IS NOT INCLUDED IN THE PRESIDENTS TAXABLE WAGES AS THE CAR SERVICE IS USED ONLY TO CONDUCT UNIVERSITY BUSINESS. Part I Line 1 THE UNIVERSITY PROVIDES A HOUSING ALLOWANCE TO WILLIAM A. TORREY. THIS AMOUNT IS INCLUDED IN HIS TAXABLE INCOME. Part I Line 1 THE UNIVERSITY WILL OCCASIONALLY APPROVE FIRST CLASS TRAVEL FOR TRUSTEES OR OFFICERS WHEN THE TRAVEL IS WITHIN THE GUIDELINES OF THE UNIVERSITYS TRAVEL POLICY. 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 PRESIDENTS 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. Part I Line 7 TORREY, PAGE, CODY, MCKENNA, SHEPARDSON, MALONE, EVERETT, AND WIGGINS 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 INDIVIDUALS PERFORMANCE. WIGGINS, EVERETT, GALLIERS, CONYON, BEDARD, FEDORWICZ AND HOITASH ALL PARTICIPATED IN ADDITIONAL FACULTY ROLES AND AMOUNTS INCLUDED AS OTHER COMPENSATION ARE RELATED TO THOSE ROLES. Part II Line 1 JOANN MCKENNA LEFT HER POSITION AS VICE PRESIDENT OF ENROLLMENT MANAGEMENT AS OF 6/30/2016. CAROLINA FIGUEROA REPLACED HER AS VICE PRESIDENT OF ENROLLMENT MANAGEMENT ON 10/1/2016. Part II Line 1 MICHAEL PAGE LEFT HIS POSITION AS VICE PRESIDENT OF ACADEMIC AFFAIRS/PROVOST ON 6/30/2016. ROY WIGGINS III AND DANIEL EVERETT BECAME INTERIM CO-VICE PRESIDENTS OF ACADEMIC AFFAIRS AND CO-PROVOSTS ON 7/1/2016. 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 false false false D MDFA SERIES 2016 043431814 57584XKJ9 2016-03-08 40434302 RENOVATE JENNISON RES HALLS false false false A 5150000 71143000 504913 11013906 59624181 2015 true false true true B 37157000 37157000 2013 true false true true C 11981878 41816878 454697 41362181 2010 true false true true D 4209302 40434302 434302 40000000 2017 true true A false true true true false 0.01020 0.01020 false false true B false true true true false 0.00548 0.00548 false false true D false true true true false false false true A false false false true true false false false true B false false true false true false false false true C false false true false false false false false true D false true false false true false false false true A true B true C true D true X 37 1368944 FMV X GIFTS IN KIND 1 5000 FMV false true false Part I Line 9, 25 PART I, COLUMN B THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. Form 990, Part III, Line 4d Program Service Expenses 18,822,000, Grants and allocations 0, Revenue 4,796,000 OTHER Form 990, Part III, Line 1 BENTLEY UNIVERSITY IS ONE OF THE NATIONS 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. Form 990, Part III, Line 1 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. Form 990, Part III, Line 1 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 ASSOCIATION 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. Form 990, Part III, Line 1 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. Form 990, Part III, Line 4A 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 UNIVERSITYS TEACHING MISSION. Form 990, Part III, Line 4B AUXILIARY ENTERPRISES APPROXIMATELY 80 OF BENTLEYS 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. Form 990, Part III, Line 4C 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. Form 990, Part III, Line 4D OTHER PROGRAM SERVICES BENTLEYS 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, Part VI, Section B, Line 11 FORM 990 REVIEW PROCESS A FULL AND COMPLETE COPY OF THE FORM 990 AND ALL ITS ACCOMPANYING SCHEDULES WAS SENT ELECTRONICALLY TO THE UNIVERSITYS 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. Form 990, Part VI, Section B, Line 12C CONFLICT OF INTEREST POLICY MEMBERS OF THE UNIVERSITYS 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 ARMS LENGTH, WITH TERMS THAT ARE FAIR AND REASONABLE TO THE UNIVERSITY. Form 990, Part VI, Section B, Line 12C 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. Form 990, Part VI, Section B, Line 15 COMPENSATION POLICY 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 UNIVERSITYS PRESIDENT AND ALL OFFICERS IS REASONABLE AND SATISFIES THE REBUTTABLE PRESUMPTION OF TREASURY REGULATION SECTION 53.4958-6. Form 990, Part VI, Section C, Line 19 PUBLIC DISCLOSURE THE UNIVERSITYS PRINCIPAL GOVERNING DOCUMENTS, INCLUDING THE ARTICLES OF THE INCORPORATION AND BY-LAWS, ARE FILED WITH THE MASSACHUSETTS SECRETARY OF STATE AND THEREFORE AVAILABLE TO THE PUBLIC. THE UNIVERSITYS FINANCIAL STATEMENTS ARE POSTED ON THE UNIVERSITYS WEBSITE FOR PUBLIC VIEWING. REGARDING CONFLICT OF INTEREST, THE INDIVIDUAL FORMS SIGNED BY TRUSTEES AND OFFICERS ARE NOT AVAILABLE FOR PUBLIC INSPECTION BUT THE UNIVERSITYS FINANCIAL STATEMENTS DO INCLUDE A FOOTNOTE DISCUSSING RELATED-PARTY TRANSACTIONS. THE CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE CHANGE IN FAIR VALUE OF INTEREST RATE SWAP OF 9,761,000 AND OTHER NONOPERATING ACTIVITIES 346,000. THE TOTAL FOR LINE 9 IS 9,415,000. HIGHVISTA HFS PARTNERS (OFFSHORE) PO BOX 2681GT GRAND CAYMAN CJ 981315811 INVESTMENTS CJ HIGHVISTA GP IV LP C Corp 95174 6590264 1.00000 true false false false false false false false false false false false false false false false false false true false HIGHVISTA HFS PARTNERS (OFFSHORE) r 6500000 FMV Part IV Line 3 THE UNIVERSITY IS INVESTED IN HIGHVISTA HFS PARTNERS OFFSHORE. BENTLEY UNIVERSITY HOLDS 100 OF NONVOTING STOCK IN HIGHVISTA HFS PARTNERS AND HIGHVISTA GP IV HOLDS 100 OF VOTING STOCK.