2016-05-12T15:58:49-05:00 2015-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2014-07-01 041081650 BENTLEY UNIVERSITY % NANCY ANTUNES BENT 7818912000 175 FOREST STREET WALTHAM MA 024524705 KENNETH CODY VICE PRESIDENT 7818912887 2016-05-12 true TARA D'AGOSTINO P01245482 6179881000 2016-05-09 2014 2016-08-17 19:52:53Z KENNETH CODY 175 FOREST STREET WALTHAM MA 024524705 359791650 false X WWW.BENTLEY.EDU X 1917 MA TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE. 26 25 2873 325 827030 8412000 5741000 256177000 263992650 16609234 17008765 1570000 1386000 282768234 288128415 70523000 73429900 0 0 110618699 113571625 72868 98110 6285502 79139433 82320366 260354000 269420001 22414234 18708414 565001000 570525000 213190000 212636000 351811000 357889000 X TO EDUCATE CREATIVE, ETHICAL, AND SOCIALLY RESPONSIBLE ORGANIZATIONAL LEADERS BY CREATING AND DISSEMINATING IMPACTFUL KNOWLEDGE WITHIN AND ACROSS BUSINESS AND 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2.0 0.0 X 0 0 0 KENNETH H COLBURN TRUSTEE 1.0 0.0 X 0 0 0 J PAUL CONDRIN III TRUSTEE 1.0 0.0 X 0 0 0 CYNTHIA M DEYSHER TRUSTEE 2.0 0.0 X 0 0 0 JOYCE J ELAM TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM C FREDA TRUSTEE 2.0 0.0 X 0 0 0 DAVID L GIUNTA TRUSTEE 1.0 0.0 X 0 0 0 ANDREW J HAJDUCKY TRUSTEE 2.0 0.0 X 0 0 0 DANIEL A KESHIAN TRUSTEE 2.0 0.0 X 0 0 0 W CARL KESTER TRUSTEE 2.0 0.0 X 0 0 0 FRANCIS F KINGSLEY TRUSTEE 1.0 0.0 X 0 0 0 DEBORAH L LEITCH TRUSTEE 1.0 0.0 X 0 0 0 STEVEN P MANFREDI CHAIRMAN OF BOARD 10.0 0.0 X X 0 0 0 I NORMAN MASSRY TRUSTEE 2.0 0.0 X 0 0 0 SUSAN G O'CONNELL TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL G SPERLINGA TRUSTEE 1.0 0.0 X 0 0 0 NICKOLAS STAVROPOULOS TRUSTEE 1.0 0.0 X 0 0 0 JEROEN VAN DEN HOVEN TRUSTEE 1.0 0.0 X 0 0 0 DAVID H WEENER TRUSTEE 1.0 0.0 X 0 0 0 TANYA N HAIRSTON WHITNER TRUSTEE 2.0 0.0 X 0 0 0 BRIAN T ZINO TRUSTEE 1.0 0.0 X 0 0 0 GLORIA C LARSON PRESIDENT/TRUSTEE 65.0 0.0 X X 644464 0 96073 KENNETH B CODY VICE PRESIDENT 40.0 0.0 X 375625 0 27327 JUDITH A MALONE GENERAL COUNSEL 40.0 0.0 X 220716 0 45467 JOANN C MCKENNA VICE PRESIDENT 40.0 0.0 X 318630 0 29024 MICHAEL J PAGE VICE PRESIDENT/PROVOST 40.0 0.0 X 386113 0 34629 J ANDREW SHEPARDSON VICE PRESIDENT 40.0 0.0 X 252207 0 30404 WILLIAM A TORREY VICE PRESIDENT 40.0 0.0 X 407772 0 26255 JEAN C BEDARD PROFESSOR 40.0 0.0 X 389340 0 54666 ROBERT D GALLIERS PROFESSOR 40.0 0.0 X 414926 0 34933 M LYNNE MARKUS PROFESSOR 40.0 0.0 X 375686 0 34624 DAVID PERRY CHIEF MARKETING OFFICER 40.0 0.0 X 298028 0 48053 ROY WIGGINS III DEAN OF BUSINESS 40.0 0.0 X 302314 0 50547 TRACI LOGAN FORMER VICE PRESIDENT 40.0 0.0 X 723100 0 16810 5108921 0 528812 238 true true false CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 02110 INVESTMENT ADVISORS 225328 KPMG 60 SOUTH STREET BOSTON MA 02111 AUDITORS 218400 GRANT THORNTON 33562 Treasury Center CHICAGO IL 60694 CONSULTANTS 200963 ADAGE CAPITAL MANAGEMENT 200 CLAREDON STREET 52nd FLOOR BOSTON MA 02116 INVESTMENT MGT 168931 INKHOUSE 260 CHARLES STREET SUITE 200 WALTHAM MA 02453 CONSULTANTS 168700 5 1247000 4494000 231589 5741000 TUITION AND FEES 900099 210976000 210976000 AUXILIARY 900099 51600390 50332316 1268074 CONFERENCE SERVICES 721000 605056 605056 SWIMMING POOL USE 713990 108554 108554 STUDENT ACTIVITY FEES 900099 700000 700000 2650 2650 263992650 3475000 113420 3361580 0 0 0 0 0 0 0 85197000 0 69462235 2201000 15734765 -2201000 13533765 13533765 0 0 0 0 0 OTHER SOURCES 900099 1386000 1386000 1386000 288128415 263396966 827030 18163419 43900 43900 70689565 70689565 2696435 2696435 0 2605527 319160 1981685 304682 0 87276818 82374018 1594853 3307947 6607791 4153401 2097595 356795 11523191 7469287 3607252 446652 5558298 20924 5278127 259247 2072563 1089384 878179 105000 381590 26662 354928 355000 355000 2268 2268 98110 98110 2521000 2521000 7380725 4627071 2753654 3383982 3099436 238826 45720 6227751 5067491 813521 346739 0 0 12269799 12252415 14997 2387 1537254 1449156 7098 81000 0 2885276 2225933 394855 264488 6397000 6065902 331098 0 18835134 18177056 658078 786967 53012 733955 PURCHASED SERVICES 8464101 6049152 1750645 664304 STUDY ABROAD 4846328 4846328 LEASING AND RENTALS 1598478 1559658 38820 STUDENT ORGANIZATIONS 1386512 1386512 988638 784467 201740 2431 269420001 236526325 26608174 6285502 0 0 32030000 47238000 3338391 2775845 943609 945155 0 0 0 0 8054000 7926000 0 0 2218952 1293755 433104000 190376000 236290000 242728000 191000669 191279738 77047331 74065262 0 0 0 0 14078048 2273245 565001000 570525000 24614000 26006000 0 0 5364000 6452000 145455000 141367000 0 0 0 0 0 0 0 0 37757000 38811000 213190000 212636000 X 241795000 248446000 65177000 63637000 44839000 45806000 351811000 357889000 565001000 570525000 X 18708414 -11328764 -1301650 X false true X true true true X 10039000 6354000 8241000 8412000 5741000 38787000 0 0 10039000 6354000 8241000 8412000 5741000 38787000 1833680 36953320 1984000 2178982 3047645 3142884 3361580 13715091 53075 37467 90542 1871190 2085200 1705000 1570000 1386000 8617390 61210023 1222548919 0.60371 0.68970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 2268 2268 false LOBBYING EXPENSES PART II-B, LINE 1I BENTLEY UNIVERSITY PAYS MEMBERSHIP DUES TO VARIOUS EDUCATIONAL ASSOCIATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES ON BEHALF OF THE THEIR MEMBERS, AND THEREFORE THE DUES CREATE INDIRECT LOBBYING EXPENSES FOR THE UNIVERSITY. THE PORTION OF MEMBERSHIP FEES ALLOCABLE TO LOBBYING ACTIVITIES WAS $2,268 FOR THE YEAR ENDED JUNE 30, 2015. 279965 X false 258462000 2083000 5827000 2530302 7211698 256630000 217933000 6821000 43058000 2415681 6934319 258462000 192708000 7747000 26113000 2267487 6367513 217933000 199966000 2344000 -1968000 2293506 5340494 192708000 162734000 14154000 30201000 2478770 4644230 199966000 0.61000 0.17000 0.22000 true false 31871000 31871000 355298000 152189173 203108827 44517000 38186827 6330173 1418000 0 1418000 242728000 HEDGE FUNDS 51687417 F PARTNERSHIPS 22377845 F 74065262 0 INTEREST RATE SWAP AGREEMENTS 24195000 POST RETIREMENT BENEFITS 8057000 REFUNDABLE U.S. GOVERNMENT GRANTS 6559000 38811000 X 272977001 -11328764 -1301650 -12630414 285607415 2521000 2521000 288128415 266899001 266899001 2521000 2521000 269420001 COLLECTIONS OF ART PART III, LINE 4 THE UNIVERSITY OWNS A MODERN COLLECTION OF ABOUT 30 PAINTINGS AND SCULPTURES THAT APPEAR IN PUBLIC COMMON AREAS THROUGHOUT THE CAMPUS, IN CONFERENCE ROOMS, AND IN THE PRESIDENT'S HOUSE. ENDOWMENT FUNDS PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT PROVIDES FOR SCHOLARSHIPS TO STUDENTS, SUPPORT FOR ACADEMIC PROGRAMS, AND SUPPORT FOR PROGRAM ACTIVITIES. IN ADDITION, QUASI ENDOWMENT REPRESENTS 61% OF ENDOWMENT AND THOSE FUNDS ARE AVAILABLE FOR USE ON AN AS-NEEDED BASIS PER VOTE OF THE BOARD OF TRUSTEES. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE UNIVERSITY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 OR 2014. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D CHANGE IN FAIR VALUE OF INTEREST RATE SWAP ($1,359,000) CHANGE IN VALUE OF SPLIT INTEREST TRUST ($107,400) CHANGE IN POST-RETIREMENT HEALTHCARE COSTS $164,750 TOTAL ($1,301,650) true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 BENTLEY UNIVERSITY DOES NOT DISCRIMINATE IN ADMISSION OR ACCESS TO, OR TREATMENT OR EMPLOYMENT IN ANY OF ITS EDUCATIONAL PROGRAMS OR ACTIVITIES, INCLUDING SCHOLARSHIPS, LOANS, AND ATHLETICS, ON THE BASIS OF RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY AND/OR EXPRESSION, MARITAL STATUS, AGE, NATIONAL ORIGIN, CITIZENSHIP STATUS, DISABILITY, GENETIC INFORMATION, MILITARY OR VETERAN STATUS. BENTLEY UNIVERSITY MAINTAINS AND SUPPORTS AFFIRMATIVE ACTION PLANS FOR ITS WORKPLACE IN COMPLIANCE WITH FEDERAL LAW. EQUAL OPPORTUNITY EXTENDS TO ALL ASPECTS OF THE EMPLOYMENT RELATIONSHIP, INCLUDING HIRING, PROMOTIONS, TRAINING, WORKING CONDITIONS, COMPENSATION AND BENEFITS. BENTLEY UNIVERSITY'S POLICIES AND PRACTICES REFLECT THE UNIVERSITY'S COMMITMENT TO NONDISCRIMINATION IN ALL AREAS OF EMPLOYMENT. THE UNIVERSITY COMPLIES WITH TITLE VI OF THE CIVIL RIGHTS ACT, TITLE IX OF THE EDUCATION AMENDMENTS, SECTION 504 OF THE REHABILITATION ACT AND REVENUE PROCEDURE 75-50 PROHIBITING SUCH DISCRIMINATION. ANYONE BELIEVING THAT HE OR SHE HAS EXPERIENCED ADVERSE TREATMENT MAY REGISTER A COMPLAINT WITH THE SPECIAL ASSISTANT TO THE PRESIDENT, AT 781.891.2907. FINANCIAL AID AND GOVERNMENTAL ASSISTANCE SCHEDULE E, LINE 6A THE UNIVERSITY PROVIDES FINANCIAL AID FUNDS TO THE STUDENTS BASED ON GENERALLY ACCEPTED UNIFORM NON-DISCRIMINATORY METHODOLOGY. true Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 4457777 East Asia and the Pacific Program Services STUDY ABROAD 1528219 South America Program Services STUDY ABROAD 362875 Sub-Saharan Africa Program Services STUDY ABROAD 75338 Middle East and North Africa Program Services STUDY ABROAD 72765 Central America and the Caribbean Investments 32100310 38597284 38597284 SCHOLARSHIP ASSISTANCE Europe (Including Iceland and Greenland) 173 2087839 ACCT CREDIT SCHOLARSHIP ASSISTANCE East Asia and the Pacific 44 488326 ACCT CREDIT SCHOLARSHIP ASSISTANCE South America 5 81435 ACCT CREDIT SCHOLARSHIP ASSISTANCE Sub-Saharan Africa 2 38835 ACCT CREDIT true false true true true true MONITOR THE USE OF GRANT FUNDS OUTSIDE THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS WHO WISH TO STUDY ABROAD. THESE AMOUNTS ARE APPLIED TO THE STUDENT'S ACCOUNT AND ARE USED TO OFFSET HIS OR HER COST OF THE PROGRAM. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. BASIS OF ACCOUNTING PART I, LINE 3, COLUMN F THE BASIS OF ACCOUNTING ON THE FINANCIAL STATEMENTS IS ACCRUAL. X X X X X X true MARTS LUNDY 1200 WALL ST W LYND 1200 WALL ST W LYNDHURST NJ 07071 FUNDRAISING SURVEY false 98110 -98110 98110 -98110 MA FUNDRAISER REIMBURSEMENTS PART I, LINE 2B, COLUMN V THE UNIVERSITY'S AGREEMENT WITH MARTS LUNDY PROVIDED THAT OUT OF POCKET EXPENSES WOULD BE REIMBURSED. THE AMOUNT OF OUT OF POCKET EXPENSES REIMBURSED WAS $7,358. true MASSACHUSETTS CONFERENCE FOR WOMEN PO BOX 55071 75355 BOSTON MA 022055071 202699177 501(C)(3) 34900 GREATER BOSTON CHAMBER OF COMMERCE 265 FRANKLIN STREET BOSTON MA 02110 041103090 501(C)(6) 9000 GENERAL SUPPORT 1 1 SCHOLARSHIP ASSISTANCE 2759 70689565 MONITOR THE USE OF GRANT FUNDS IN THE U.S. PART I, LINE 2 THE UNIVERSITY PROVIDED FINANCIAL SUPPORT TO THE MASSACHUSETTS CONFERENCE FOR WOMEN THAT PROVIDES CONNECTION, MOTIVATION, NETWORKING, INSPIRATION AND SKILL BUILDING FOR THOUSANDS OF ASPIRING BUSINESS WOMEN EACH YEAR. DOZENS OF EXPERT SPEAKERS LEAD WORKSHOPS AND SEMINARS ON THE ISSUES THAT MATTER MOST TO WOMEN, INCLUDING PERSONAL FINANCE, BUSINESS AND ENTREPRENEURSHIP, HEALTH, WORK/LIFE BALANCE AND MORE. THE CONFERENCE OFFERS INCREDIBLE OPPORTUNITIES FOR BUSINESS NETWORKING, PROFESSIONAL DEVELOPMENT, EDUCATION, AND PERSONAL GROWTH. THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. MANY SCHOLARSHIPS ARE BASED ON CRITERIA SUCH AS ACADEMIC STRENGTH, ATHLETIC ABILITY, LEADERSHIP, OR COMMUNITY SERVICE. NON-NEED-BASED SCHOLARSHIP FUNDING IS AWARDED THROUGH THE ADMISSIONS PROCESS AND USUALLY HAS A GRADE POINT AVERAGE (GPA) OR OTHER REQUIREMENT FOR RENEWAL IN SUBSEQUENT YEARS. TYPES OF MERIT SCHOLARSHIPS INCLUDE THE TRUSTEE SCHOLARSHIP, THE PRESIDENT'S SCHOLARSHIP AND THE INTERNATIONAL SCHOLARSHIP. THE UNIVERSITY ALSO OFFERS GRANT FUNDS THAT ARE AWARDED BASED ON FINANCIAL NEED AND DO NOT HAVE TO BE REPAID. THE OFFICE OF FINANCIAL ASSISTANCE DETERMINES THE TOTAL AMOUNT OF A STUDENT'S NEED-BASED GRANT FUNDING ACCORDING TO FEDERAL AND INSTITUTIONAL FORMULAS. TYPES OF NEED BASED GRANTS INCLUDE BENTLEY SCHOLARSHIPS, AS WELL AS FEDERAL AND STATE SOURCES. ALL SCHOLARSHIP AMOUNTS ARE AUTOMATICALLY CREDITED TO THE INDIVIDUAL'S STUDENT ACCOUNT. X X X X true true X X X X X X true false false false false false false true false GLORIA C LARSON PRESIDENT/TRUSTEE 504663 0 132500 0 7301 0 26000 0 70073 0 740537 0 0 0 KENNETH B CODY VICE PRESIDENT 353418 0 20000 0 2207 0 26000 0 1327 0 402952 0 0 0 JUDITH A MALONE GENERAL COUNSEL 202624 0 17500 0 592 0 20970 0 24497 0 266183 0 0 0 JOANN C MCKENNA VICE PRESIDENT 286617 0 30000 0 2013 0 26000 0 3024 0 347654 0 0 0 MICHAEL J PAGE VICE PRESIDENT/PROVOST 358869 0 25000 0 2244 0 26000 0 8629 0 420742 0 0 0 J ANDREW SHEPARDSON VICE PRESIDENT 226449 0 25000 0 758 0 22781 0 7623 0 282611 0 0 0 WILLIAM A TORREY VICE PRESIDENT 385938 0 20000 0 1834 0 26000 0 255 0 434027 0 0 0 JEAN C BEDARD PROFESSOR 291412 0 4000 0 93928 0 26000 0 28666 0 444006 0 0 0 ROBERT D GALLIERS PROFESSOR 339403 0 0 0 75523 0 26000 0 8933 0 449859 0 0 0 M LYNNE MARKUS PROFESSOR 293029 0 7000 0 75657 0 26000 0 8624 0 410310 0 0 0 DAVID PERRY CHIEF MARKETING OFFICER 271360 0 25000 0 1668 0 26000 0 22053 0 346081 0 0 0 ROY WIGGINS III DEAN OF BUSINESS 262297 0 15000 0 25017 0 26000 0 24547 0 352861 0 0 0 TRACI LOGAN FORMER VICE PRESIDENT 168100 0 0 0 555000 0 16810 0 0 0 739910 0 0 0 BENEFITS 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 COST RELATED TO MAID SERVICE FOR THE HOUSE IS $4,511 WHICH IS INCLUDED AS TAXABLE INCOME. 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 2014 WAS $12,130, AND IS NOT INCLUDED IN THE PRESIDENT'S TAXABLE WAGES AS THE CAR SERVICE IS USED TO CONDUCT UNIVERSITY BUSINESS. THE UNIVERSITY PROVIDED FIRST CLASS TRAVEL FOR THE PRESIDENT FOR ONE TRIP ON UNIVERSITY BUSINESS DURING THE YEAR. THE FIRST CLASS TRAVEL WAS APPROVED IN ADVANCE BY THE VP FOR ADMINISTRATION AND FINANCE DUE TO THE DURATION OF THE TRIP. SEVERANCE PAYMENT PART I, LINE 4A OTHER REPORTABLE COMPENSATION FOR TRACI LOGAN OF $555,000 REPRESENTS A RESOLUTION OF DISPUTED CLAIMS. GLORIA LARSON'S BONUS PART I, LINE 7 & PART II, COLUMN B(II) PURSUANT TO HER EMPLOYMENT CONTRACT, THE PRESIDENT SHALL BE CONSIDERED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, FOR A BONUS WITH A TARGET OF 15%, AND A MAXIMUM OF 30% OF THE BASE SALARY. THE AMOUNT OF THE BONUS SHALL BE DETERMINED BY THE COMPENSATION COMMITTEE BASED ON ITS ASSESSMENT OF THE PRESIDENT'S PERFORMANCE AND THAT OF BENTLEY UNIVERSITY AGAINST APPROPRIATE GOALS ESTABLISHED ANNUALLY BY THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE, IN ITS SOLE DISCRETION, MAY DETERMINE NOT TO AWARD A BONUS FOR ANY GIVEN YEAR. TORREY, PAGE, CODY, MCKENNA, SHEPARDSON, PERRY AND MALONE RECEIVED BONUS PAYMENTS. THE BONUSES ARE AWARDED BASED ON RECOMMENDATIONS MADE BY THE PRESIDENT AND ARE APPROVED BY THE COMPENSATION COMMITTEE WITH THE RATIONALE BASED UPON HER ASSESSMENT OF THE INDIVIDUAL'S PERFORMANCE. ADDITIONALLY, MARKUS, BEDARD, AND WIGGINS RECEIVED BONUS PAYMENTS BASED UPON RECOMMENDATIONS MADE BY THE PROVOST AND APPROVED BY THE PRESIDENT. PART II, COLUMN B(III) DURING THE REPORTING PERIOD, PROFESSORS GALLIERS, MARKUS, BEDARD AND WIGGINS ALL PARTICIPATED IN ADDITIONAL FACULTY ROLES. THE AMOUNTS IN THIS COLUMN ARE NOT BONUS OR INCENTIVE COMPENSATION, BUT RATHER ADDITIONAL COMPENSATION FOR ADDITIONAL SERVICES PERFORMED. A MA DEVELOPMENT FINANCE AGENCY 043431814 2013-12-10 71143000 REFINANCING/CAPITAL PROJECTS false false false B MA DEVELOPMENT FINANCE AGENCY 043431814 2013-12-10 37157000 REFINANCING false false false C MA DEVELOPMENT FINANCE AGENCY 043431814 57583R2N4 2010-09-16 41816878 REFUNDING SERIES J 1998 false false false A 1650000 0 71143000 0 0 0 504913 0 0 11013906 59624181 0 2015 true false true true B 0 0 37157000 0 0 0 0 0 0 0 37157000 0 2013 true false true true C 8941878 0 41816878 0 0 0 454697 0 0 0 41362181 0 2010 true false true true A false true true true false 0.01784 0.01784 false false false true B false true true true false 0.00954 0.00954 false false false true C 0 A false true false false true false 0 false 0 false true B false false true false true false 0 false 0 false true C false false true false false false 0 false 0 false true A true B true C true X 25 231589 FMV false true false NONCASH CONTRIBUTIONS PART I, COLUMN B THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 BENTLEY UNIVERSITY IS ONE OF THE 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. BENTLEY UNIVERSITY ENJOYS A STRONG POSITION IN MANY MAJOR RANKINGS AND LISTS INCLUDING: U.S. NEWS & WORLD REPORT, BLOOMBERG BUSINESS WEEK, THE PRINCETON REVIEW AND MANY OTHER NATIONAL PUBLICATIONS. UNDERGRADUATE AND GRADUATE BUSINESS PROGRAMS AT BENTLEY UNIVERSITY ARE ACCREDITED BY THE AACSB INTERNATIONAL AND THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS. THE UNIVERSITY IS ALSO ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES INC. (NEASC). ALL OF THESE ACCREDITATIONS INDICATE THAT BENTLEY UNIVERSITY MEETS OR EXCEEDS ESTABLISHED STANDARDS AS DETERMINED BY PERIODIC AACSB PEER GROUP REVIEW. IN ADDITION BENTLEY UNIVERSITY IS ONE OF ONLY THREE BUSINESS SCHOOLS IN THE U.S. AND 130 BUSINESS SCHOOLS WORLDWIDE, TO EARN EUROPEAN QUALITY IMPROVEMENT SYSTEM (EQUIS) ACCREDITATION. EQUIS IS THE LEADING INTERNATIONAL SYSTEM OF QUALITY ASSESSMENT, IMPROVEMENT, AND ACCREDITATION OF HIGHER EDUCATION INSTITUTIONS IN MANAGEMENT AND BUSINESS ADMINISTRATION. PROGRAM SERVICES FORM 990, PART III, LINES 4A-4D 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 THE KNOWLEDGE AND THAT SUPPORT THE UNIVERSITY'S TEACHING MISSION. LINE 4B, AUXILIARY ENTERPRISES: APPROXIMATELY 80% OF BENTLEY'S UNDERGRADUATES 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. LINE 4C, STUDENT SERVICES: OUR MORE THAN 100 STUDENTS 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. LINE 4D, OTHER PROGRAM SERVICES: BENTLEY'S BUSINESS-ORIENTED HIGH-TECH CENTERS AND LEARNING FACILITIES GIVE STUDENTS HANDS-ON EXPERIENCE WITH THE LATEST HARDWARE AND SOFTWARE IN FINANCE, INFORMATION SYSTEMS, MARKETING, ACCOUNTING AND LANGUAGES. OUR ACADEMIC CENTERS ENRICH STUDENTS WITH RESOURCES AND THOUGHT LEADERSHIP IN ARTS, ETHICS, INTERNATIONAL EDUCATION, AND SERVICE OPPORTUNITIES. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 A FULL AND COMPLETE COPY OF THE FORM 990 AND ALL ITS ACCOMPANYING SCHEDULES WAS SENT ELECTRONICALLY TO THE UNIVERSITY'S TRUSTEE AUDIT COMMITTEE IN APRIL FOR ITS REVIEW. UPON COMPLETION OF THAT REVIEW IN EARLY MAY, THE COMPLETE FORM 990 WAS MADE AVAILABLE TO THE FULL BOARD PRIOR TO FILING. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES AND SENIOR MANAGEMENT MAY, FROM TIME TO TIME, BE ASSOCIATED, EITHER DIRECTLY OR INDIRECTLY, WITH COMPANIES DOING BUSINESS WITH THE UNIVERSITY. THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES MAY PARTICIPATE IN ANY DECISION IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. EACH TRUSTEE IS REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AS WELL AS DISCLOSE ANY POTENTIAL RELATED-PARTY TRANSACTIONS TO THE AUDIT COMMITTEE. WHEN SUCH A RELATIONSHIP EXISTS, THE UNIVERSITY REQUIRES THAT SUCH TRANSACTIONS BE CONDUCTED AT ARM'S LENGTH, WITH TERMS THAT ARE FAIR AND REASONABLE TO THE UNIVERSITY. FOR SENIOR MANAGEMENT, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN, OR GOVERNANCE OF EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH ENTITIES DOING BUSINESS WITH THE UNIVERSITY. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE THE ACTUAL OR PERCEIVED CONFLICT IN THE BEST INTEREST OF THE UNIVERSITY. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 SALARY AND BENEFIT COMPENSATION ARRANGEMENTS FOR THE PRESIDENT AND ALL OFFICERS ARE REVIEWED AND APPROVED IN ADVANCE OF ANY PAYMENT BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES WHO IS INDEPENDENT OF MANAGEMENT AND FREE OF ANY CONFLICTS OF INTEREST THAT WOULD INTERFERE WITH THEIR EXERCISE OF INDEPENDENT JUDGMENT. THE COMPENSATION COMMITTEE REVIEWS OTHER NON-PROFIT ORGANIZATIONS' FORM 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. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S PRINCIPAL GOVERNING DOCUMENTS, INCLUDING THE ARTICLES OF INCORPORATION AND BY-LAWS, ARE FILED WITH THE MASSACHUSETTS SECRETARY OF STATE AND THEREFORE AVAILABLE TO THE PUBLIC. THE UNIVERSITY'S FINANCIAL STATEMENTS ARE POSTED ON THE UNIVERSITY'S WEBSITE FOR PUBLIC VIEWING. REGARDING CONFLICT OF INTEREST, THE INDIVIDUAL FORMS SIGNED BY TRUSTEES AND OFFICERS ARE NOT AVAILABLE FOR PUBLIC INSPECTION BUT THE UNIVERSITY'S FINANCIAL STATEMENTS DO INCLUDE A FOOTNOTE DISCUSSING RELATED-PARTY TRANSACTIONS. THE CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP ($1,359,000) CHANGE IN VALUE OF SPLIT INTEREST TRUST ($107,400) CHANGE IN POST-RETIREMENT RETIREMENT COSTS $164,750 TOTAL ($1,301,650) CHARITABLE REMAINDER ANNUITY TRUST (2) 175 FOREST STREET WALTHAM MA 02452 CRAT MA BENTLEY Trust true CHARITABLE REMAINDER UNITRUST (5) 175 FOREST STREET WALTHAM MA 02452 CRUT MA BENTLEY Trust true true false false false false true false false false false false false false false false false false true true (1) - CRAT a 613 ACCRUAL (2) - CRUT a 75646 ACCRUAL