2018-05-11T07:02:40-05:00 2017-06-30 GRANT THORNTON LLP 75 STATE STREET 13TH FLOOR Boston MA 02109 990 2016-07-01 042121659 Worcester Polytechnic Institute % JEFFREY SOLOMON WORC 5088315000 100 Institute Road Worcester MA 01609 JEFFREY SOLOMON EXECUTIVE VP AND CFO 5088315000 2018-05-15 true Qi Wen Liang P01270238 6177237900 209.220.136.124 04586620181315000000 2018-05-11 P 966D30116217AB9F9A9B8CFBCD27D162A2C6FEBA 3A502745A6D85D2090DFF4FB69730E35DC59F84C 2016 2021-01-29 14:40:06Z Laurie Leshin 100 Institute Road Worcester MA 01609 328877410 false X www.wpi.edu X 1865 MA WORCESTER POLYTECHNIC INSTITUTE WAS FOUNDED IN 1865 TO CREATE AND CONVEY THE LATEST SCIENCE AND ENGINEERING KNOWLEDGE IN WAYS THAT ARE MOST BENEFICIAL FOR SOCIETY. 30 27 4017 834 -223484 -774918 61384483 19151190 293261579 300944995 3436288 5744555 -1575226 55591 356507124 325896331 83429526 82491341 0 0 135781663 146111988 0 0 5646503 97481436 100801869 316692625 329405198 39814499 -3508867 953330456 986537071 355173838 343872190 598156618 642664881 X THE UNIVERSITY EDUCATES TALENTED MEN AND WOMEN IN ENGINEERING, SCIENCE, MANAGEMENT, AND HUMANITIES IN PREPARATION FOR CAREERS OF PROFESSIONAL PRACTICE, CIVIC CONTRIBUTION, AND LEADERSHIP, FACILITATED BY ACTIVE LIFELONG LEARNING. (CONT. ON SCH O) false false 237616603 79404697 272060414 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 4,400 UNDERGRADUATE AND 2,200 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 2,000 STUDENTS. DURING FISCAL YEAR 2017, THE UNIVERSITY AWARDED 1,028 BACHELOR, 747 MASTER AND 46 PHD DEGREES. STUDENTS EMERGE FROM THE UNIVERSITY'S UNIQUE EXPERIENCE READY TO TAKE ON SOME OF THE MOST DIFFICULT CHALLENGES IN SCIENCE AND TECHNOLOGY. MORE IMPORTANTLY, THEY UNDERSTAND HOW THEIR WORK CAN TRULY IMPACT SOCIETY AND IMPROVE LIVES. 4254482 0 5778858 THE UNIVERSITY'S CORPORATE AND PROFESSIONAL EDUCATION DIVISION PROVIDES TAILOR-MADE PROGRAMS TO APPROXIMATELY 578 STUDENTS, MAINLY AT CORPORATE STUDENT SITES, USING INDUSTRY EXPERTS AND DEDICATED PROGRAM SUPPORT STAFF. THIS PRACTICAL APPROACH ADDS VALUE BY PROVIDING CLIENTS WITH KNOWLEDGE AND SKILLS THAT CAN BE DIRECTLY APPLIED TO THEIR REAL-WORLD JOB CHALLENGES. ADDITIONALLY DURING FISCAL YEAR 2017, APPROXIMATELY 769 INDIVIDUALS PARTICIPATED IN ONE OR MORE PROFESSIONAL WORKSHOPS OR SHORT COURSES. 25324453 3086644 23105723 AT THE UNIVERSITY, 112 FACULTY MEMBERS AND 326 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A VARIETY OF SOURCES, PRIMARILY FROM GOVERNMENTAL ORGANIZATIONS SUCH AS THE NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES. RESEARCH AT THE UNIVERSITY HAS A DECIDEDLY APPLIED FOCUS, WITH WORK FOCUSED ON PROBLEMS THAT ARE BOTH INTERESTING AND IMPORTANT. THE RESULT IS NEW KNOWLEDGE, NEW INNOVATIONS, AND TECHNOLOGICAL ADVANCES THAT ATTACK SOME OF THE MAJOR CHALLENGES OF OUR TIME. 267195538 true true false true false false false true false true true true false false true true false true true true true true true false false false false true true true true false false false false false false true false false false true false false false true true true true false false true 7060 0 true 4017 true true true false false false false false false false false false X 30 27 false false false false false false false true true false false true true true true true true true true false MA X X JEFFREY SOLOMON 5088315000 100 INSTITUTE ROAD Worcester MA 01609 Laurie Leshin President 40.0 1.0 X X 773438 0 221519 John Mollen Chairman 2.0 0.0 X X 0 0 0 Francesca Maltese Vice Chairman and Trustee 2.0 0.0 X X 0 0 0 George Oliver Vice Chairman and Trustee 2.0 0.0 X X 0 0 0 Andrew Aberdale Trustee 2.0 0.0 X 0 0 0 Joseph Adams Trustee 2.0 0.0 X 0 0 0 Michael Aspinwall Trustee 2.0 0.0 X 0 0 0 James Baum Trustee 2.0 0.0 X 0 0 0 Curtis Carlson Trustee 2.0 0.0 X 0 0 0 Michael Dolan Trustee 2.0 0.0 X 0 0 0 Daniel Farrar Trustee 2.0 0.0 X 0 0 0 Henry Fitzgerald Trustee 2.0 0.0 X 0 0 0 William Fitzgerald Trustee 2.0 0.0 X 0 0 0 Marni Hall Trustee 2.0 0.0 X 0 0 0 Steven Halstedt Trustee 2.0 0.0 X 0 0 0 Robert Hart Trustee 2.0 0.0 X 0 0 0 Debora Jackson Trustee 2.0 0.0 X 0 0 0 Stuart Kazin Trustee 2.0 0.0 X 0 0 0 Carl Kilmer Trustee 2.0 0.0 X 0 0 0 Joyce Kline Trustee 2.0 0.0 X 0 0 0 David Lapre Trustee 2.0 0.0 X 0 0 0 Robert Martin Trustee 2.0 0.0 X 0 0 0 Erica Mason Trustee 2.0 0.0 X 0 0 0 Neil McDonough Trustee 2.0 0.0 X 0 0 0 Linda McGoldrick Trustee 2.0 0.0 X 0 0 0 Daniel Morgan Trustee 2.0 0.0 X 0 0 0 Karen Tegan Padir Trustee 2.0 0.0 X 0 0 0 Mark Russell Trustee 2.0 0.0 X 0 0 0 Joan Bolduc Szkutak Trustee 2.0 0.0 X 0 0 0 Dorothea Wong Trustee 2.0 0.0 X 0 0 0 Jeffrey Solomon TREASURER, EXECUTIVE VP & CFO 40.0 1.0 X 495597 0 169030 Stephanie Pasha Secretary, AVP, Chief of Staff 40.0 0.0 X 133126 0 22102 Kristin Tichenor ASST SEC, SVP ENROLLMENT MGMT 40.0 0.0 X 393170 0 122190 Charlene Bellows Assc. Treas/Contr (thru 12/16) 40.0 1.0 X 147140 0 32809 Stephen Flavin VP ACADEMIC & CORPORATE DEV 40.0 0.0 X 445983 0 148070 William McAvoy VP UNIVERSITY ADVANCEMENT 40.0 0.0 X 364431 0 95593 Bruce Bursten Provost, SVP, Acad Affairs 40.0 0.0 X 381115 0 64044 Philip Clay VP STUDENT AFFAIRS 40.0 0.0 X 208064 0 56145 Michael Ginzberg Dean Foisie Business School 40.0 0.0 X 400678 0 48160 Diran Apelian Prof Mechanical Engineering 40.0 0.0 X 354245 0 51230 Karen Kashmanian Oates Dean of Arts & Sciences 40.0 0.0 X 329796 0 35269 Mark Rice Professor School of Business 40.0 0.0 X 326220 0 52991 Jamal Yagoobi Dept. Head Mechanical Eng 40.0 0.0 X 312032 0 101855 Eric Overstrom Professor of Biology and Tech 40.0 0.0 X 258708 0 41962 5323743 0 1262969 286 true true false CONSIGLI CONSTRUCTION COMPANY INC 72 SUMMER STREET MILFORD MA 017571663 CONSTRUCTION 6987244 SHAWMUT DESIGN CONSTRUCTION 560 HARRISON AVE BOSTON MA 02118 CONSTRUCTION 5034463 GENSLER 12478 COLLECTION CENTER DR CHICAGO IL 60693 CONSTRUCTION 2153928 CUTLER ASSOCIATES INC 43 HARVARD STREET WORCESTER MA 01609 CONSTRUCTION 1123876 LYRASIS PO BOX 100125 COLUMBIA SC 292023125 SUBSCRIPTIONS 906240 92 2687978 16463212 2694355 19151190 TUITION AND FEES 611710 242760467 242760467 AUXILIARY OPERATIONS 611710 28479787 28479787 SPONSORED RESEARCH 611710 23105723 23105723 OTHER OPERATING SOURCES 611710 4099007 4099007 OTHER EDUCATIONAL OPERATIONS 611710 2500011 2178724 321287 300944995 7249520 -544771 7794291 0 55591 55591 0 0 0 1476114 2981079 -1504965 -1504965 -1504965 0 0 0 0 0 0 0 0 0 0 325896331 300623708 -223484 6344917 3086644 3086644 79003138 79003138 401559 401559 0 4062256 1011580 2045535 1005141 0 111269946 86771589 21506361 2991996 9130862 6981852 1845994 303016 14776702 6931302 7608236 237164 6872222 5254798 1389363 228061 0 922892 15375 907517 231166 231166 225347 225347 0 695000 695000 12431830 9514957 2798025 118848 1265887 757177 500634 8076 3120066 1991196 915044 213826 3997611 1020374 2849850 127387 0 12129951 10732996 1396882 73 4061208 3293809 601905 165494 0 3697917 2510920 1038182 148815 9269833 8840200 429633 0 20876896 18646417 2230479 793084 696385 96699 RESEARCH AND TRAINING 10424062 10003864 387013 33185 REPAIRS AND MAINTENANCE 7939303 4704555 3234137 611 LAB EQUIPMENT/OTHER SUPPLIES 3604702 3366536 236952 1214 BOOKS AND PERIODICALS 2554564 38411 2516153 2560550 1619904 877050 63596 329405198 267195538 56563157 5646503 0 0 84130894 77305795 18453475 12798975 2772770 2910679 0 0 0 0 21284279 19672711 0 0 7218190 7765137 558412962 238564653 308918863 319848309 245286725 267349272 245101366 259364153 0 0 0 0 20163894 19522040 953330456 986537071 26976576 23812406 0 0 8161287 7903973 216642603 212996076 0 0 0 0 3766914 3771661 63417934 62661841 36208524 32726233 355173838 343872190 X 271992747 297405375 113486772 128679186 212677099 216580320 598156618 642664881 953330456 986537071 X -3508867 44095657 3921473 X false true X true true true X 26201813 18592750 31452693 61384483 19151190 156782929 0 0 26201813 18592750 31452693 61384483 19151190 156782929 37277842 119505087 4760695 4825468 4905749 5275634 7305111 27072657 0 0 183855586 1360557519 0.64999 0.66437 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 225347 225347 328484851 328710198 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 285734 126000 209405 225347 846486 250000 250000 250000 250000 1000000 1500000 0 0 0 0 SCHEDULE C, PART II-A, LINE 1B LOBBYING EXPENDITURES ARE FOR THE PURPOSE OF IDENTIFYING FUNDING OPPORTUNITIES AT THE FEDERAL AND STATE LEVEL TO SUPPORT EDUCATIONAL AND RESEARCH PROGRAMS AND TO DEVELOP STRATEGIC RESEARCH PARTNERSHIPS WITH GOVERNMENT ORGANIZATIONS. X X false 453173354 6870914 48215959 9804243 13928220 484527764 419308857 54754960 -111677 7317938 13460848 0 453173354 416207100 16935708 5211050 6495947 12549054 0 419308857 372171561 5952523 56534087 7028961 11422110 0 416207100 345205532 6883711 37972313 5305650 12584345 0 372171561 0.38800 0.40100 0.21100 false false 9618820 9618820 431057473 181000945 250056528 16385764 5730624 10655140 78675450 51833084 26842366 22675455 22675455 319848309 REAL ESTATE 42723390 F PRIVATE EQUITY FUNDS 36386114 F FIXED INCOME SECURITIES 230691 F EQUITY FUNDS 133532850 F FIXED INCOME FUNDS 46491108 F 259364153 0 REFUNDABLE GOVERNMENT LOAN FUNDS 9272195 SPLIT INTEREST AGREEMENTS 8678643 INTEREST RATE AGREEMENTS 8282498 FUNDS HELD FOR OTHERS 4153055 ASSET RETIREMENT OBLIGATIONS 2339842 32726233 X 294508764 44095657 -75483224 -31387567 325896331 325896331 250000501 250000501 79404697 79404697 329405198 SCHEDULE D, PART III, LINE 1 DUE TO THE IMMATERIALITY OF THE UNIVERSITY'S COLLECTIONS OF ART OR HISTORICAL TREASURES, THESE ASSETS ARE NOT DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART III, LINE 4 THE UNIVERSITY HOLDS A CHARLES DICKENS COLLECTION, A BERNARD BRENNER SCULPTURE COLLECTION, A RARE BOOK AND MANUSCRIPT COLLECTION, AS WELL AS OTHER WORKS OF ART. THESE PIECES ARE USED BY THE FACULTY TO FURTHER THEIR RESEARCH AND CURRICULUM. SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE PROGRAMS OF THE UNIVERSITY, INCLUDING SCHOLARSHIPS, FACULTY TEACHING AND RESEARCH, LIBRARY RESOURCES, AND MAINTENANCE. THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT AND SIMILAR FUNDS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE UNIVERSITY RELIES ON A TOTAL RETURN APPROACH IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED GAINS) AND CURRENT YIELD. TO ACHIEVE ITS LONG-TERM OBJECTIVES WITHIN PRUDENT RISK PARAMETERS, THE UNIVERSITY TARGETS A DIVERSIFIED ASSET ALLOCATION. THE UNIVERSITY OBSERVES A SPENDING RULE WITH RESPECT TO TOTAL RETURN (INTEREST, DIVIDENDS, AND APPRECIATION) ON INVESTMENTS OF THE ENDOWMENTS AND SIMILAR FUNDS. UNDER THE SPENDING RULE, THE UNIVERSITY APPROPRIATED 4.8% OF ITS ENDOWMENT AND SIMILAR FUNDS' AVERAGE UNIT FAIR VALUE FOR THE PREVIOUS TWELVE QUARTERS, ONE YEAR REMOVED, FOR THE YEAR ENDED JUNE 30, 2017. SCHEDULE D, PART X, LINE 2 THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE UNIVERSITY HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, UPON THE UNIVERSITY'S CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS, OR THE RELATED CONSOLIDATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. SCHEDULE D, PART XI, LINE 2D NET UNREALIZED GAIN ON BENEFICIAL INTEREST IN TRUSTS $854,247 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -$681,707 NET UNREALIZED GAIN ON SWAPS $3,748,933 SCHOLARSHIPS -$79,404,697 _________________________________________________________________ TOTAL -$75,483,224 SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS $79,404,697 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONALLY AND MAKES ITS ANTI-DISCRIMINATION POLICY KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A STATEMENT ON ITS WEBSITE, AND IN ALL BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. IT IS THE POLICY OF THE UNIVERSITY TO PROVIDE EACH QUALIFIED INDIVIDUAL - REGARDLESS OF RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER PROTECTED STATUS - THE OPPORTUNITY TO PARTICIPATE IN THE UNIVERSITY'S EDUCATIONAL AND EMPLOYMENT PROGRAMS AND ACTIVITIES IN A DISCRIMINATION AND HARASSMENT-FREE ENVIRONMENT, IN ACCORDANCE WITH STATE AND FEDERAL LAWS, INCLUDING TITLE VI OF THE CIVIL RIGHTS ACT OF 1964, SECTION 504 OF THE REHABILITATION ACT OF 1973, TITLE IX OF THE EDUCATION AMENDMENTS OF 1972, AND THE AGE DISCRIMINATION ACT OF 1975. FURTHERMORE, THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE UNLAWFUL DISCRIMINATION OR HARASSMENT. UNLAWFUL DISCRIMINATION OR HARASSMENT CONSISTS OF TREATING A PERSON DIFFERENTLY IN ANY UNIVERSITY PROGRAM OR ACTIVITY BASED ON THEIR RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER PROTECTED STATUS. THIS INCLUDES, FOR EXAMPLE, THE DISPLAY OR CIRCULATION OF WRITTEN OR ELECTRONIC MATERIALS OR PICTURES DEGRADING TO EITHER GENDER OR TO RACIAL, ETHNIC, OR RELIGIOUS GROUPS; AND VERBAL ABUSE OR INSULTS DIRECTED AT OR MADE IN THE PRESENCE OF MEMBERS OF A RACIAL, ETHNIC, OR MINORITY GROUP. THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE ANY FORM OF RETALIATION AGAINST PERSONS WHO HAVE COMPLAINED ABOUT, OR PARTICIPATED IN AN INVESTIGATION OF A COMPLAINT ABOUT, UNLAWFUL DISCRIMINATION OR HARASSMENT. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN THE FORM OF 34A TITLE IV AID. true Central America and the Caribbean 1 1 Program Services See Part V 171000 East Asia and the Pacific 7 7 Program Services See Part V 587000 Europe (Including Iceland and Greenland) 1 Program Services See Part V 738000 Middle East and North Africa 1 1 Program Services See Part V 160000 Russia and the Newly Independent States Program Services See Part V 18000 South America 1 2 Program Services See Part V 111000 South Asia Program Services See Part V 33000 Sub-Saharan Africa Program Services See Part V 129000 Central America and the Caribbean Investments 58400000 Europe (Including Iceland and Greenland) Investments 15000000 Central America and the Caribbean Grantmaking 20974 East Asia and the Pacific Grantmaking 125500 Europe (Including Iceland and Greenland) Grantmaking 113730 Middle East and North Africa Grantmaking 14860 Russia and the Newly Independent States Grantmaking 1980 South America Grantmaking 40205 South Asia Grantmaking 36770 Sub-Saharan Africa Grantmaking 47540 10 12 10 12 75701019 47540 75748559 Scholarship East Asia and the Pacific 68 125500 CREDITED Scholarship Europe (Including Iceland and Greenland) 68 113730 Credited Scholarship Sub-Saharan Africa 28 47540 CREDITED Scholarship South America 16 40205 CREDITED Scholarship South Asia 16 36770 CREDITED Scholarship Central America and the Caribbean 19 20974 CREDITED Scholarship Middle East and North Africa 13 14860 CREDITED Scholarship Russia and the Newly Independent States 9 1980 CREDITED true false true true true false SCHEDULE F, PART I, LINE 2 PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE A FINANCIAL AID APPLICATION AND THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. SCHEDULE F, PART I, LINE 3 EUROPE (INCLUDING ICELAND AND GREENLAND) STUDENT PROJECTS IN ALBANIA, DENMARK, ENGLAND, FRANCE, GERMANY, GREECE, SWITZERLAND, AND ITALY FOCUS ON ENVIRONMENTAL, SOCIOECONOMIC, ARTISTIC, CULTURAL AND TECHNICAL CONCERNS SPECIFIC TO THE REGION. EAST ASIA AND THE PACIFIC STUDENT PROJECTS IN AUSTRALIA, CHINA, JAPAN, NEW ZEALAND AND THAILAND INVOLVE ADDRESSING PROBLEMS IMPORTANT TO THE LOCAL COMMUNITIES, INCLUDING SUSTAINABLE DEVELOPMENT, HEALTH AND HUMAN SERVICES AND ENVIRONMENTAL ISSUES. SUB-SAHARAN AFRICA STUDENT PROJECTS IN SOUTH AFRICA AND NAMIBIA FOCUS ON SUSTAINABLE DEVELOPMENT AND PUBLIC HEALTH. CENTRAL AMERICA AND THE CARIBBEAN STUDENT PROJECTS IN COSTA RICA AND PANAMA FOCUS ON ENVIRONMENTAL, SOCIOECONOMIC, CULTURAL AND TECHNICAL CONCERNS SPECIFIC TO THE REGION. MIDDLE EAST AND NORTH AFRICA STUDENT PROJECTS IN MOROCCO INVOLVE THE STUDY OF ISLAMIC HISTORY AND CULTURAL AND SOCIETAL ISSUES. STUDENT PROJECTS IN ISRAEL FOCUS ON TECHNOLOGICAL AND ENVIRONMENTAL ISSUES. SOUTH AMERICA STUDENT PROJECTS IN PARAGUAY FOCUS ON POVERTY ELIMINATION EFFORTS. STUDENT PROJECTS IN ECUADOR FOCUS ON TRANSPORTATION, CULTURAL, SOCIOECONOMIC, AND ENVIRONMENTAL ISSUES. RUSSIA AND NEIGHBORING STATES STUDENT PROJECTS IN RUSSIA HELP ADDRESS LOCAL PROBLEMS BY WORKING ON A VARIETY OF TECHNOLOGICAL, HUMAN RESOURCES, CULTURAL AND ENVIRONMENTAL PROJECTS. SOUTH ASIA STUDENT PROJECTS IN MANDI, INDIA INCLUDE COLLABORATIVE PROJECTS WITH THE INDIAN INSTITUTE OF TECHNOLOGY, A LEADER IN SCIENCE AND TECHNOLOGY EDUCATION, KNOWLEDGE, CREATION, AND INNOVATION FOR A SUSTAINABLE SOCIETY. OTHER PROJECTS INCLUDE ENGAGING COMMUNITY AGENCIES, LOCAL GOVERNMENTAL AGENCIES, AND NON-GOVERNMENTAL ORGANIZATIONS ON ISSUES PRIMARILY OF SUSTAINABILITY. SCHEDULE F, PART III SCHOLARSHIPS TO PARTICIPATE IN STUDENT PROJECTS OUTSIDE OF THE UNITED STATES ARE CREDITED TO THE STUDENTS' ACCOUNTS. true A123 Systems LLC 39000 Seven Mile Road Livonia MI 48152 611247430 56401 Research Acoustic MedSystems Inc 208 Burwash Ave Savoy IL 61874 371365835 232128 Research Albany Medical Center 47 New Scotland Avenue Albany NY 12208 141338310 501(c)(3) 15708 Research Brown University 75 Waterman Street Providence RI 02906 050258809 501(c)(3) 8392 Research College of the Holy Cross 1 College Street Worcester MA 01610 042103558 501(c)(3) 42967 Research Curators of the University of Missouri 118 University Hall Columbia MO 65211 436003859 501(c)(3) 70217 Research Dartmouth College 11 Rope Ferry Road 6210 Hanover NH 03755 020222111 501(c)(3) 25248 Research Data Driven Instruction LLC 10 Edgewood Drive Hudson MA 01749 454894325 104292 Research Deep Reach Technology Inc 14121 Cardinal Lane Houston TX 77079 274013962 237251 Research Fire Protection Research Foundation 1 Batterymatch Park Quincy MA 02169 521256543 501(c)(3) 6575 Research Framingham State University 100 State Street Framingham MA 01701 043154529 Gov't 10204 Research HF Webster Engineering Services 525 University Loop Suite 211 Rapid City SD 57701 208291879 350880 Research NJ Center for Teaching & Learning 115 Franklin Turnpike 203 Mahway NJ 07430 770667571 60900 Research Northeastern University 360 Huntington Avenue Boston MA 02115 041679980 501(c)(3) 446930 Research Ohio State University 901 Woody Hayes Drive Columbus OH 43210 316025986 Gov't 38184 Research Pennsylvania State University 408 Old Main University Park PA 16802 246000376 Gov't 325166 Research Simbex 10 Water Street Suite 410 Lebanon NH 03766 582551796 12598 Research Technology Metals Research LLC 180 S Western Ave 150 Carpentersville IL 60110 271655783 141155 Research Research Foundation for State Univ of NY PO Box 9 Albany NY 12201 141368361 501(c)(3) 103261 Research Umass Donahue Institute 100 Venture Way Hadley MA 01035 043167352 501(c)(3) 11722 Research University of Conn Health Center 263 Farmington Ave Farmington CT 06032 621722543 Gov't 106608 Research University of Connecticut 233 Glenbrok Rd U-4231 Storrs CT 06269 060772160 Gov't 69883 Research Univesity of Indiana 980 Indiana Univ Lockefield 2232 Indianapolis IN 46202 356001673 Gov't 15397 Research University of Maryland 3112 Lee Building College Park MD 20742 526002033 Gov't 95102 Research University of Massachusetts Amherst 100 Venture Way Hadley MA 01035 043167352 GOV'T 291453 Research University of Mass Medical School 55 Lake Ave North Worcester MA 01655 043167352 GOV'T 139446 Research University of Notre Dame 724 Grace Hill Notre Dame IN 46556 350868188 501(c)(3) 12467 Research Western Washington University 516 High Street Bellingham WA 98228 916000562 501(c)(3) 51234 Research 20 8 Scholarships 4111 79003197 SCHEDULE I, PART I, LINE 2 PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH BOTH ITS OFFICE OF SPONSORED PROGRAMS (OSP) AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND CERTAIN POST-AWARD ACTIVITIES, SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, ANIMAL RESEARCH GUIDELINES AND EXPORT RESTRICTIONS, AMONG OTHERS. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS AND PREPARATION AND SUBMISSION OF FEDERAL AGENCY REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE A FINANCIAL AID APPLICATION AND THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. X X X X X true true X X X X X false true false false false false false true false Laurie Leshin President 657748 0 115000 0 690 0 146875 0 74644 0 994957 0 0 0 Jeffrey Solomon TREASURER, EXECUTIVE VP & CFO 414197 0 80710 0 690 0 91960 0 77070 0 664627 0 68300 0 Stephanie Pasha Secretary, AVP, Chief of Staff 132730 0 0 0 396 0 14813 0 7289 0 155228 0 0 0 Stephen Flavin VP ACADEMIC & CORPORATE DEV 375953 0 69580 0 450 0 79800 0 68270 0 594053 0 58900 0 Kristin Tichenor ASST SEC, SVP ENROLLMENT MGMT 335141 0 57339 0 690 0 53242 0 68948 0 515360 0 48325 0 William McAvoy VP UNIVERSITY ADVANCEMENT 320499 0 41952 0 1980 0 75187 0 20406 0 460024 0 34415 0 Bruce Bursten Provost, SVP, Acad Affairs 379135 0 0 0 1980 0 56000 0 8044 0 445159 0 0 0 Philip Clay VP STUDENT AFFAIRS 206774 0 0 0 1290 0 47990 0 8155 0 264209 0 0 0 Michael Ginzberg Dean Foisie Business School 396868 0 0 0 3810 0 29150 0 19010 0 448838 0 0 0 Diran Apelian Prof Mechanical Engineering 348065 0 0 0 6180 0 29035 0 22195 0 405475 0 0 0 Karen Kashmanian Oates Dean of Arts & Sciences 325986 0 0 0 3810 0 27225 0 8044 0 365065 0 0 0 Mark Rice Professor School of Business 322410 0 0 0 3810 0 29150 0 23841 0 379211 0 0 0 Jamal Yagoobi Dept. Head Mechanical Eng 310052 0 0 0 1980 0 29150 0 72705 0 413887 0 0 0 Eric Overstrom Professor of Biology and Tech 194141 0 62587 0 1980 0 22000 0 19962 0 300670 0 53850 0 Charlene Bellows Assc. Treas/Contr (thru 12/16) 146589 0 0 0 551 0 16602 0 16207 0 179949 0 0 0 SCHEDULE J, PART I, LINE 1A THE UNIVERSITY HAS PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING AMOUNTS ARE NOT INCLUDED IN COMPENSATION TAXABLE TO THE EMPLOYEE: (A) LAURIE LESHIN: THE PRESIDENT MAY FLY FIRST CLASS OR BUSINESS CLASS FOR TRAVEL IN EXCESS OF 3 HOURS. COMPANION TRAVEL IS ALLOWED FOR BONA FIDE BUSINESS PURPOSES INCLUDING DEVELOPMENT EVENTS OR UNIVERSITY RELATED ACTIVITIES. THE UNIVERSITY PROVIDES HOUSING ON CAMPUS AS A CONDITION OF HER EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, INCLUDING HOUSEKEEPING TO MAINTAIN THE APPEARANCE OF THE RESIDENCE FOR UNIVERSITY FUNCTIONS. SOCIAL CLUB DUES ARE PAID BY THE UNIVERSITY TO PROVIDE NETWORKING OPPORTUNITIES FOR WPI EXECUTIVES FOR THE BENEFIT OF THE UNIVERSITY AND ITS NEIGHBORS IN THE CITY OF WORCESTER. SCHEDULE J, PART I, LINE 4 LINE 4A THE PRESIDENTS EMPLOYMENT CONTRACT INCLUDES A SEVERANCE PROVISION THAT PROVIDES SIX MONTHS OF BASE SALARY. NO AMOUNTS WERE PAID UNDER THIS PROVISION IN THE CURRENT YEAR. LINE 4B - THE FOLLOWING EXCESS RETIREMENT CONTRIBUTIONS (REPORTED IN SCHEDULE J, PART II, COLUMN C) WERE EARNED IN CALENDAR YEAR 2016 AND SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL 6/30/19: (A) JEFFREY SOLOMON: $16,830; (B) STEPHEN FLAVIN: $12,650; (C) KRISTIN TICHENOR: $7,920; (D) WILLIAM MCAVOY: $6,600; (E) BRUCE BURSTEN: $9,350; AND (G) LAURIE LESHIN $39,600. SCHEDULE J, PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES HAS A PAY-FOR-PERFORMANCE COMPENSATION PHILOSOPHY IN DETERMINING EXECUTIVE COMPENSATION. A PLAN THAT IS PART OF THE PHILOSOPHY IS THE "VP RETENTION PLAN". EACH YEAR, A VICE PRESIDENT MAY EARN UP TO 12.5% OF SALARY AND EXCESS RETIREMENT CONTRIBUTIONS, SUBJECT TO A THREE YEAR RISK OF FORFEITURE. THESE AMOUNTS ARE ALL NON-FIXED PAYMENTS. VP INCENTIVES EARNED DURING CALENDAR YEAR 2016 ARE INCLUDED IN DEFERRED COMPENSATION AS FOLLOWS: (A) JEFFREY SOLOMON: $45,980; (B) STEPHEN FLAVIN: 38,000; (C) KRISTIN TICHENOR: $16,850; (D) WILLIAM MCAVOY: $40,625; (E) BRUCE BURSTEN: $17,500; (F) PHILIP CLAY: $25,000; AND (G) LAURIE LESHIN: $78,125. ANY ADDITIONAL AMOUNTS FOR EXCESS RETIREMENT CONTRIBUTIONS ARE DISCLOSED ON SCHEDULE J, PART I, LINE 4B. A Massachusetts Development Finance Agency 043431814 57583rnt8 2007-06-28 86922372 Constr. of dorm/refund 1997 series false false false B Massachusetts Development Finance Agency 043431814 57583rtx3 2008-04-09 48995000 Refunding of series 2003&2005 false false false C Massachusetts Development Finance Agency 043431814 57583rs48 2010-01-27 56074338 rec center const./other renovation false false false D massachusetts development finance agency 043431814 57583ust6 2012-10-30 43369451 const. of dorm/other renovations false false false A 12015000 51125000 86984724 0 1379419 0 1120319 1013000 0 40019339 43452647 0 2008 true false true true B 4490000 0 48995000 0 0 0 325962 19038 0 0 48650000 0 2008 true false true true C 0 0 56087447 0 5808410 0 603966 0 0 49675098 0 0 2013 false false true true D 0 0 43372717 0 1360189 0 530536 0 0 41481992 0 0 2015 false false true true A false true true true false 0.01810 0.01810 false false false true B false true true true true true 0 false false false true C false true false false 0 false false false true D false false false false 0 false false false true A false false false true false false 0 false 0 false true B false false true false true true Deutsche & Barclays 20. false false false 0 false true C false false false true false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true SCHEDULE K, PART I, COLUMN F FOR BOND ISSUE A (SERIES 2007), SERIES 1997-I AND II WERE ISSUED MARCH 20, 1997 AND JUNE 25, 1997, RESPECTIVELY. FOR BOND ISSUE B (SERIES 2008A), SERIES 2003 AND 2005 WERE ISSUED JULY 30, 2003 AND AUGUST 3, 2005, RESPECTIVELY. FOR BOND ISSUE B (SERIES 2016), SERIES 2007 WAS ISSUED JUNE 28, 2007. SCHEDULE K, PART II, LINE 3 FOR BOND ISSUE A (SERIES 2007), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $62,352. FOR BOND ISSUE C (SERIES 2010), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $13,136. FOR BOND ISSUE D (SERIES 2012), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $3,266. SCHEDULE K, PART II, LINE 11 FOR BOND ISSUE A (SERIES 2007), THE OTHER SPENT PROCEEDS ARE THE CURRENT REFUNDING PROCEEDS OF THE ISSUE. FOR BOND ISSUE B (SERIES 2008A), THE OTHER SPENT PROCEEDS ARE THE CURRENT REFUNDING PROCEEDS OF THE ISSUE. SCHEDULE K, PART IV, LINE 2C FOR BOND ISSUE A (SERIES 2007), THE REBATE CALCULATION WAS PERFORMED AS OF AUGUST 24, 2012. FOR BOND ISSUE C (SERIES 2010), THE REBATE CALCULATION WAS PERFORMED AS OF AUGUST 31, 2014. A Massachusetts Development Finance Agency 043431814 2014-08-28 4622000 Renovations of existing facilities false false false B Massachusetts Development Finance Agency 043431814 57584XPK1 2016-06-21 49030491 Refunding of Series 2007 Bonds false false false A 274125 0 4622000 0 0 0 61330 0 0 4560670 0 0 2017 false false true true B 0 0 49030491 0 0 48559177 471314 0 0 0 0 0 false true false true A false false false false 0 false false false true B false true true true false 0.01490 0.01490 false false false true A false true false false true false 0 false 0 false true B false true false false false false 0 false 0 false true A true B true NA N/A 16000 Scholarship Merit NA N/A 4500 Scholarship Merit SCHEDULE L, PART III, LINE 1 GRANTS BENEFITTING INTERESTED PERSONS THE COLLEGE GRANTED MERIT SCHOLARSHIPS TO TWO STUDENTS WHO ARE THE CHILD OF CURRENT BOARD TRUSTEES. THE COLLEGE ENSURED THE GRANTS WERE AWARDED BASED ON MERIT TO THE ELIGIBLE STUDENTS, WHO MET THE REQUIRED ACADEMIC STANDING. THE TRUSTEES DO NOT HAVE ANY INFLUENCE IN THE DECISION MAKING PROCESS FOR AWARDING SCHOLARSHIPS. X 70 1530587 Fair Market Value X 6 432090 Fair Market Value X Lab Equipment 9 227322 Fair Market Value X Lab Supplies 20 4356 Fair Market Value X Equipment 1 500000 Fair Market Value false true false Schedule M, Part I The number of contributions is disclosed in Column B. FORM 990, PART I, LINE 20 THE UNIVERSITY HAS ELECTED TO FILE FORM 990 ON A CONSOLIDATED BASIS, A BASIS CONSISTENT WITH ITS AUDITED FINANCIAL STATEMENTS, AND HAS INCLUDED THE ACTIVITY OF WASHBURN PARK INC., A SEPARATE 501(C)(3) ORGANIZATION WHICH ALSO FILED FORM 990 FOR THE YEAR ENDED JUNE 30, 2017. FOR THE FISCAL YEAR ENDED JUNE 30, 2017, WASHBURN PARK INC HAD NET ASSETS OF $31,359,263; REVENUE OF $822,795; AND EXPENSES OF $2,345,258. FORM 990, PART III, LINE 1 (CONTINUED) THIS EDUCATIONAL PROCESS IS TRUE TO THE FOUNDERS' DIRECTIVE TO CREATE, TO DISCOVER, AND TO CONVEY KNOWLEDGE AT THE FRONTIERS OF ACADEMIC INQUIRY FOR THE BETTERMENT OF SOCIETY. KNOWLEDGE IS CREATED AND DISCOVERED IN THE SCHOLARLY ACTIVITIES OF FACULTY AND STUDENTS RANGING ACROSS EDUCATIONAL METHODOLOGY, PROFESSIONAL PRACTICE, AND BASIC RESEARCH. KNOWLEDGE IS CONVEYED THROUGH SCHOLARLY PUBLICATION AND INSTRUCTION. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML) FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. MANAGEMENT REVIEWS THE COMPLETED FORM 990 WITH THE TAX ADVISORS AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, MANAGEMENT PROVIDES THE FORM TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, ALL UNIVERSITY TRUSTEES, OFFICERS, AND KEY EMPLOYEES (AS DEFINED UNDER IRS RULES) ARE REQUIRED TO SUBMIT ANNUALLY A CONFLICT OF INTEREST DISCLOSURE STATEMENT, IN WHICH THEY AFFIRM THAT THEY: (A) HAVE RECEIVED A COPY OF THE UNIVERSITY CONFLICT OF INTEREST POLICY; (B) HAVE READ AND UNDERSTOOD THE POLICY; (C) AGREE TO COMPLY WITH THE POLICY AND; (D) UNDERSTAND THAT THE UNIVERSITY, AS A TAX-EXEMPT ORGANIZATION, MUST RESTRICT ITS ACTIVITIES PRIMARILY TO THOSE FOR WHICH ITS TAX-EXEMPT STATUS WAS GRANTED. ADDITIONALLY, AS PART OF THE ANNUAL DISCLOSURE STATEMENT PROCESS, TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE ASKED TO OUTLINE IN A SEPARATE LETTER ANY POTENTIAL CONFLICTS OF INTEREST AND ANY SIGNIFICANT FINANCIAL INTEREST WITH THE UNIVERSITY OR ANY UNIVERSITY-RELATED ENTITY. ALL ANNUAL DISCLOSURE STATEMENTS ARE SUBMITTED TO THE UNIVERSITY COMPLIANCE OFFICER, WHO REVIEWS THEM, CONSOLIDATES THE COMMENTS AND PRESENTS A REPORT TO THE AUDIT COMMITTEE. UPON RECEIPT OF THE COMPLIANCE OFFICER'S REPORT, THE AUDIT COMMITTEE REVIEWS THE FINDINGS AND TAKES ANY NECESSARY AND APPROPRIATE ACTION. THE AUDIT COMMITTEE THEN REPORTS TO THE BOARD OF TRUSTEES ON THE FINDINGS AND ANY ACTIONS TAKEN BY THE COMMITTEE. ANY TRUSTEE WITH A CONFLICT OF INTEREST RECUSES HIMSELF OR HERSELF FROM ANY BOARD OR COMMITTEE DECISIONS RELATED TO THAT CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE UNIVERSITY'S PRESIDENT AND OTHER TOP MANAGEMENT IS MODELED AFTER THE REQUIREMENTS IN FEDERAL REGULATIONS 53.4958-6(A), REBUTTABLE PRESUMPTION THAT A TRANSACTION IS NOT AN EXCESS BENEFIT TRANSACTION, TO ESTABLISH THE PRESUMPTION OF REASONABLE COMPENSATION. COMPENSATION IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES COMPRISED OF INDEPENDENT PERSONS. BY ENGAGING AN INDEPENDENT COMPENSATION CONSULTANT, THE COMMITTEE CONSIDERS COMPARABLE MARKET DATA FROM PUBLISHED SURVEYS AND FEDERAL FORM 990S OF COMPARABLE ORGANIZATIONS IN EVALUATING THE COMPENSATION FOR EACH INDIVIDUAL. THE COMMITTEE CONDUCTS A REVIEW OF THIS COMPARABILITY DATA, SETS COMPENSATION WITHIN A RANGE OF COMPARABLE ORGANIZATIONS, AND DOCUMENTS ITS DELIBERATION AND DISCUSSION IN MINUTES THAT ARE RETAINED WITH THE OTHER GOVERNANCE MATERIALS OF THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON ITS WEBSITE (WWW.WPI.EDU). FORM 990, PART XI, LINE 9 NET UNREALIZED GAIN ON BENEFICIAL INTEREST IN TRUSTS $854,247 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -$681,707 NET UNREALIZED GAIN ON SWAPS $3,748,933 _________________________________________________________________ TOTAL $3,921,473 Gateway Park LLC 100 Institute Road Worcester MA 01609 043494779 Real Est. Dev MA 503161 8590000 WPI Lancaster Island LLC 100 Institute Road Worcester MA 01609 001108846 Real Est. Dev MA 0 0 Washburn Par Washburn Park Inc 100 Institute Road Worcester MA 01609 271189816 Infrastructur MA 501(c)(3) LINE 10 WPI true Charitable Remainder Trusts (29) 100 Institute Road Worcester MA 01609 Charitable Trusts MA NA Trust true false false false true false false false false false false true false false false true false false false false Washburn Park Inc D 9437395 Cost Washburn Park Inc K 450636 FMV