2017-05-09T15:17:37-05:00 2016-06-30 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2015-07-01 042121659 Worcester Polytechnic Institute % JEFFREY SOLOMON WORC 5088315288 100 Institute Road Worcester MA 01609 JEFFREY SOLOMON EXECUTIVE VP AND CFO 5088315000 2017-05-09 true Robert J Butler Jr P00037953 6177237900 2017-05-09 2015 2021-01-29 14:40:06Z Laurie Leshin 100 Institute Road Worcester MA 01609 359661325 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. 29 26 3918 928 -558122 -991122 31452693 61384483 277637959 293261579 2691656 3436288 261849 -1575226 312044157 356507124 83091835 83429526 0 0 130999139 135781663 0 0 5581969 93444017 97481436 307534991 316692625 4509166 39814499 872836583 955819974 305954138 357663356 566882445 598156618 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 227776645 76235767 257293869 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 is provided for approximately 2,000 students. During fiscal year 2016, the university awarded 908 bachelor, 704 master and 35 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. 4439030 0 7325366 The university's corporate and professional education division provides tailor-made programs to approximately 636 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 2016, approximately 1,135 individuals participated in one or more professional workshops or short courses. 29645677 7193759 28642345 At the university, 124 faculty members and 338 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. 261861352 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 5931 0 true 3918 true true true false false false false false false false false false X 29 26 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 683192 0 110358 Philip Ryan 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 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 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 David Lapre Truste 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 John Mollen 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 Richard Willett II TRUSTEE 2.0 0.0 X 0 0 0 Dorothea Wong TRUSTEE 2.0 0.0 X 0 0 0 Michael Zarilli TRUSTEE 2.0 0.0 X 0 0 0 Jeffrey Solomon Treasurer, Executive VP & CFO 40.0 1.0 X 508555 0 163675 Amy Roderick thru 1015 Controller & Asst. Treasurer 40.0 0.0 X 88010 0 5145 A Tracy Hassett Asst. Sec. & VP HR (thru 9/15) 40.0 0.0 X 212057 0 21326 Stephanie Pasha Secretary, AVP, Chief of Staff 40.0 0.0 X 128841 0 22145 Stephen Flavin VP Academic & Corporate Dev 40.0 0.0 X 450151 0 107645 Kristin Tichenor Senior VP Enrollment Mgmt 40.0 0.0 X 396469 0 105583 William McAvoy VP University Advancement 40.0 0.0 X 308177 0 93978 Bruce Bursten Provost, SVP Acad Affairs 40.0 0.0 X 222790 0 24768 Philip Clay VP Student Affairs 40.0 0.0 X 181860 0 28767 Diran Apelian Professor Mechanical Enginrng 40.0 0.0 X 356667 0 51902 Joseph Sarkis Dept. Head School of Business 40.0 0.0 X 334772 0 94519 Jamal Yagoobi Dept. Head Mechanical Eng 40.0 0.0 X 326173 0 112204 Mark Rice Professor School of Business 40.0 0.0 X 325634 0 54502 Eric Overstrom Professor of Biology and Tech 40.0 0.0 X 458965 0 50755 Charlene Bellows Controller & Fmr. Asst. Treas. 40.0 1.0 X 112228 0 29710 5094541 0 1076982 274 true true false CHARTWELLS PO BOX 417632 BOSTON MA 022417632 DINING SERVICES 519387 Prime Buchholz Assoc 273 Corporate Drive Suite 250 PORTSMOUTH NH 03801 INVEST. CONSULTING 209459 PricewaterhouseCoopers LLP 185 Asylum Street Suite 2400 HARTFORD CT 06103 AUDIT 200000 ACF Solutions LLC 11800 Sunrise Valley Dr Suite 424 RESTON VA 20191 CONSULTING 194451 GOODY CLANCY ASSOC 420 Boylston Street BOSTON MA 02116 Architectural Design 168049 76 2706044 58678439 31463365 61384483 TUITION AND FEES 611710 231222505 231222505 SPONSORED RESEARCH 611710 28642345 28642345 AUXILIARY OPERATIONS 611710 27823401 27823401 OTHER OPERATING SOURCES 611710 3113975 3113975 OTHER EDUCATIONAL OPERATIONS 611710 2459353 2237244 222109 293261579 5214966 -780231 5995197 0 60668 60668 0 0 0 1375523 3154201 -1778678 -1778678 -1778678 0 0 0 LOSS ON EXTINGUISHMENT OF DEBT -1635894 -1635894 -1635894 356507124 293039470 -558122 2641293 6837735 6837735 75830208 75830208 761583 761583 0 4027436 943834 2075120 1008482 0 103796748 82845152 17964696 2986900 8580726 6699729 1575475 305522 12803973 6679932 5897825 226216 6572780 5131949 1206803 234028 0 824719 20229 804230 260 227025 227025 209405 209405 0 601000 601000 11345168 8970350 2294644 80174 1671532 1120626 532656 18250 3237887 2087203 947809 202875 5471698 992024 4352489 127185 0 11618587 10270683 1347843 61 4026504 3336197 546934 143373 0 3569918 2497402 936707 135809 8751233 8114796 636437 0 20569887 18388151 2181736 779602 692089 87513 RESEARCH AND TRAINING 10181252 9622181 509350 49721 REPAIRS AND MAINTENANCE 5056036 4319097 735713 1226 LAB EQUIPMENT/OTHER SUPPLIES 4206401 3956907 245966 3528 BOOKS AND PERIODICALS 2512334 27081 2485222 31 2621248 1716214 846706 58328 316692625 261861352 49249304 5581969 0 0 23721721 84130894 15130329 18453475 3757298 2772770 0 0 0 0 22115858 21284279 0 0 9349348 9707708 526542876 217624013 305037933 308918863 204792102 245286725 258655056 245101366 0 0 0 0 30276938 20163894 872836583 955819974 24829518 26976576 0 0 10351175 8161287 224486812 219132121 0 0 0 0 5175305 3766914 6469028 63417934 34642300 36208524 305954138 357663356 X 276043233 271992747 118775437 113486772 172063775 212677099 566882445 598156618 872836583 955819974 X 39814499 -4620139 -3920187 X false true X true true true X 21507246 26201813 18592750 31452693 61384483 159138985 0 0 21507246 26201813 18592750 31452693 61384483 159138985 37317039 121821946 4459098 4760695 4825468 4905749 5275634 24226644 0 0 183365629 1277180723 0.66437 0.70019 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 209405 209405 315882220 316091625 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 316980 285734 126000 209405 938119 250000 250000 250000 250000 1000000 1500000 0 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 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 360262058 4575797 -926220 5507413 13198690 0 345205532 0.38300 0.42000 0.19700 false false 9618820 9618820 420207338 168331565 251875773 16229862 4932839 11297023 71120980 44359609 26761371 9365876 9365876 308918863 REAL ESTATE 40620246 F PRIVATE EQUITY FUNDS 29439581 F FIXED INCOME SECURITIES 242654 F EQUITY FUNDS 132412059 F FIXED INCOME FUNDS 42386826 F 245101366 0 INTEREST RATE AGREEMENTS 12031431 REFUNDABLE GOVERNMENT LOAN FUNDS 9261500 SPLIT INTEREST AGREEMENTS 8748013 FUNDS HELD FOR OTHERS 3840560 ASSET RETIREMENT OBLIGATIONS 2327020 36208524 X 271731031 -4620139 -80155954 -84776093 356507124 356507124 240456858 240456858 76235767 76235767 316692625 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 4.9% of its endowment and similar funds' average unit fair value for the previous twelve quarters, one year removed, for the year ended June 30, 2016. 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 position, or the related consolidated statements of activities, or cash flows. Schedule D, Part XI, Line 2d Net unrealized Loss on beneficial interest in trusts -$1,415,840 Change in value of split-interest agreements -$71,482 Net unrealized losses on SWAPS -$2,432,865 Scholarships -$76,235,767 _________________________________________________________________ total -$80,155,954 Schedule D, Part XII, Line 4b Scholarships $76,235,767 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 Europe (Including Iceland and Greenland) 2 2 Program Services See Part V 753000 East Asia and the Pacific 7 6 Program Services See Part V 446000 Sub-Saharan Africa 1 1 Program Services See Part V 131000 Central America and the Caribbean 1 1 Program Services See Part V 124000 Middle East and North Africa 1 1 Program Services See Part V 93000 South America 1 1 Program Services See Part V 44000 South Asia Program Services See Part V 31000 Russia and the Newly Independent States Program Services See Part V 3700 Central America and the Caribbean Investments 52500000 Europe (Including Iceland and Greenland) Investments 25400000 East Asia and the Pacific Grantmaking 186660 Europe (Including Iceland and Greenland) Grantmaking 451203 Sub-Saharan Africa Grantmaking 50310 Central America and the Caribbean Grantmaking 19890 Middle East and North Africa Grantmaking 17070 South America Grantmaking 15900 Russia and the Newly Independent States Grantmaking 12300 South Asia Grantmaking 8250 13 12 13 12 80279033 8250 80287283 Europe (Including Iceland and Greenland) Research 316183 WIRE 1 Scholarships East Asia and the Pacific 91 186660 CREDITED Scholarships Europe (Including Iceland and Greenland) 108 135020 CREDITED SCHOLARSHIPS Sub-Saharan Africa 33 50310 CREDITED Scholarships Central America and the Caribbean 26 19890 CREDITED Scholarships Middle East and North Africa 14 17070 CREDITED SCHOLARSHIPS South America 11 15900 CREDITED SCHOLARSHIPS Russia and the Newly Independent States 9 12300 CREDITED SCHOLARSHIPS South Asia 13 8250 credited true false true true true false Schedule F, 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 research accounting office. 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. The research accounting office 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. Schedule F, Part I, Line 3 Europe (including Iceland and Greenland) Student projects in Albania, Denmark, England, France, Germany, Greece, Hungary, 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 (including Hong Kong), 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. 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 HF Webster Engineering Services 525 University Loop Ste 211 SD 5 Rapid City SD 57701 208291879 1189043 Research Northeastern University 360 Huntington Avenue Boston MA 02115 041679980 501 (c) (3) 1069746 Research Technology Metals Research LLC 180 S Western Ave 150 Il 60110 Carpentersville IL 60110 271655783 953558 Research Deep Reach Technology Inc 14121 Cardinal Lane Houston TX 77079 274013962 787686 Research University of Connecticut 233 Glenbrok Rd U-4231 Storrs CT 06269 060772160 Gov't 457989 Research University of Mass Medical School 55 Lake Ave North Worcester MA 01655 043167352 501 (c) (3) 417733 Research University of Massachusetts Amherst 100 Venture Wat Hadley MA 01035 043167352 501 (c) (3) 342140 Research Acoustic MedSystems Inc 208 Burwash Avenue Savoy IL 61874 371365835 303248 Research United Technologies Research Center 200 Hogan Road Bangor ME 04401 010327434 205440 Research University of Maryland 3112 Lee Building College Park MD 20742 526002033 501 (c) (3) 127807 Research Columbia University PO Box 29789 General Post Office New York NY 10087 135598093 501 (c) (3) 103507 Research Data Driven Instruction LLC 10 Edgewood Drive Hudson MA 01749 454894325 102905 Research Brown University 75 Waterman Street Providence RI 02906 050258809 501 (c) (3) 93344 Research University of Conn Health Center 263 Farmington Ave Farmington CT 06032 621722543 Gov't 79398 Research Research Foundation for State Univ of NY PO Box 9 Albany NY 12201 141368361 501 (c) (3) 74860 Research Western Washington University 516 High Street Bellingham WA 98228 916000562 501 (c) (3) 56417 Research Thorlabs 56 Sparta Ave Newton NJ 07860 222873153 54921 Research T3 Scientific LLC 1839 Noble Road Saint Paul MN 55112 383845717 52096 Research Lowell Public Schools 375 Merrimack Street Lowell MA 01852 046001396 Gov't 51777 Research South Dakota School of Mines and Technology 501 ESaint Joseph St Rapid City SD 57701 466000364 501 (c) (3) 46715 Research College of the Holy Cross 1 College Street Worcester MA 01610 042103558 501 (c) (3) 41595 Research Pennsylvania State University 408 Old Main Univeristy Park PA 16802 246000376 Gov't 35933 Research Temple University 1938 Liacouras Walk 2nd Fl PA 191 Philadelphia PA 19122 231365971 501 (c) (3) 27297 Research Malden Public Schools 20 Pleasant Street Malden MA 02148 046001398 Gov't 25000 Research Membrane Technology & Research Inc 1360 Willow Road Ste 103 CA 94025 Menlo Park CA 94025 942795892 23193 Research Curators of the University of Missouri 118 University Hall Columbia MO 65211 436003859 501 (c) (3) 21943 Research Albany Medical Center 47 New Scotland Avenue Albany NY 12208 141338310 501 (c) (3) 16128 Research Northwestern University 633 Clark Street Evanston IL 60208 362167817 501 (c) (3) 15097 Research Umass Donahue Institute 100 Venture Way Hadley MA 01035 043167352 501 (c) (3) 14989 Research University of Notre Dame 724 Grace Hill Notre Dame IN 46556 350868188 501 (c) (3) 11993 Research A123 Systems LLC (Wanxiang) 39000 Seven Mile Road Livonia MI 48152 611247430 11335 Research Fire Protection Research Foundation 1 Batterymatch Park Quincy MA 02169 521256543 501 (c) (3) 10972 Research Rice University 6100 Main St MS-70 Houston TX 77005 741109620 501 (c) (3) 10555 Research 23 10 Scholarship 3960 75790367 REsearch 1 39841 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 research accounting office. 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. The research accounting office 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 582502 0 100000 0 690 0 29150 0 81208 0 793550 0 0 0 Jeffrey Solomon Treasurer, Executive VP & CFO 418052 0 89813 0 690 0 91960 0 71715 0 672230 0 64620 0 Charlene Bellows Controller & Fmr. Asst. Treas. 111901 0 0 0 327 0 12589 0 17121 0 141938 0 0 0 A Tracy Hassett Asst. Sec. & VP HR (thru 9/15) 181488 0 30051 0 518 0 19494 0 1832 0 233383 0 21000 0 Stephanie Pasha Secretary, AVP, Chief of Staff 128584 0 0 0 257 0 14470 0 7675 0 150986 0 0 0 Stephen Flavin VP Academic & Corporate Dev 379107 0 70594 0 450 0 79800 0 27845 0 557796 0 55925 0 Kristin Tichenor Senior VP Enrollment Mgmt 340009 0 55770 0 690 0 79195 0 26388 0 502052 0 40650 0 William McAvoy VP University Advancement 306887 0 0 0 1290 0 70751 0 23227 0 402155 0 0 0 Bruce Bursten Provost, SVP Acad Affairs 221800 0 0 0 990 0 19250 0 5518 0 247558 0 0 0 Philip Clay VP Student Affairs 180570 0 0 0 1290 0 20121 0 8646 0 210627 0 0 0 Diran Apelian Professor Mechanical Enginrng 350487 0 0 0 6180 0 28245 0 23657 0 408569 0 0 0 Joseph Sarkis Dept. Head School of Business 334082 0 0 0 690 0 29011 0 65508 0 429291 0 0 0 Jamal Yagoobi Dept. Head Mechanical Eng 324193 0 0 0 1980 0 29150 0 83054 0 438377 0 0 0 Mark Rice Professor School of Business 321824 0 0 0 3810 0 29150 0 25352 0 380136 0 0 0 Eric Overstrom Professor of Biology and Tech 392041 0 64944 0 1980 0 29150 0 21605 0 509720 0 51250 0 Schedule J, Part I, Line 1a THE UNIVERSITY HAS PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING BENEFITS 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. (B) ERIC OVERSTROM: 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 during the current year. Line 4B - The following excess retirement contributions (reported in Schedule J, Part II, column (C) were earned in calendar year 2015 and subject to a substantial risk of forfeiture until 6/30/18: (a) Jeffrey Solomon: $16,830; (b) Stephen Flavin: $12,650; (c) Kristin Tichenor: $7,920; and (d) William McAvoy: $4,224. 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 2015 are included in deferred compensation as follows: (a) Jeffrey Solomon: $45,980; (b) Stephen Flavin: $38,000; (c) Kristin Tichenor: $42,125; and (d) William McAvoy: $37,925. 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 9865000 51125000 86984724 0 1379419 0 1120319 1013000 0 40019339 43452647 0 2008 true false true true B 2980000 0 48995000 0 0 0 325962 19038 0 0 48650000 0 2008 true false true true C 0 0 56087474 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 false false false true A false true true true false 0.00500 0.00500 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 II, Line 13 FOR BOND ISSUE E (SERIES 2014), SMALLER RENOVATIONS ON THE MAIN CAMPUS WERE COMPLETED IN JUNE 2016 BUT THE PRIMARY RENOVATION PROJECT IS NOT YET SUBSTANTIALLY COMPLETE UNTIL LATE 2016. 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 72756 0 4622000 0 0 0 61330 0 0 2709527 0 1851143 false false false 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 0.00500 0.00500 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 5000 Scholarship Merit Schedule L, Part III, Line 1 THE COLLEGE GRANTED MERIT SCHOLARSHIPS TO TWO STUDENTS WHO ARE THE CHILDREN OF CURRENT MEMBERS OF THE BOARD OF TRUSTEES. THE COLLEGE ENSURES THE GRANTS WERE AWARDED BASED ON MERIT TO ELIGIBLE STUDENTS WHO MET THE REQUIRED ACADEMIC STANDING. THE TRUSTEES DO NOT HAVE ANY INFLUENCE IN THE DECISION MAKING PROCESS FOR AWARDING SCHOLARSHIPS. X 47 21369569 Fair Market Value X 6 785189 Fair Market Value X 1 6600000 Fair Market Value X 2 455452 Fair Market Value X Robot 1 2054276 Fair Market Value X Lab Equipment 3 196490 Fair Market Value X Lab Supplies 2 2389 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, 2016. For the fiscal year ended June 30, 2016, Washburn Park Inc had net assets of $32,881,726; revenue of $811,169; and expenses of $2,325,893. 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, 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 Loss on beneficial interest in trusts -$1,415,840 Change in value of split-interest agreements -$71,482 Net unrealized losses on SWAPS -$2,432,865 _________________________________________________________________ total -$3,920,187 Gateway Park LLC 100 Institute Road Worcester MA 01609 043494779 Real Est. Dev MA 498292 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 9 WPI true Charitable Remainder Trusts (29) 100 Institute Road Worcester MA 01609 Charitable Trusts MA NA T true false false false true false false false false false false true false false false true false false false false Washburn Park Inc D 5144174 Cost Washburn Park Inc K 450636 FMV