2016-05-05T13:19:30-07:00 2015-06-30 990 2014-07-01 042103865 Bay Path University BAYP 4135651000 588 Longmeadow Street Longmeadow MA 01106 Michael Giampietro Vice President Finance & Admin Serv 4135651251 2016-05-13 2014 2016-08-17 19:52:53Z Michael Giampietro 588 Longmeadow Street Longmeadow MA 01106 76107117 0 X www.baypath.edu X 1940 MA A Bay Path University education empowers undergraduate women and graduate women and men to become leaders in their careers and communities with an innovative approach to learning. 29 29 1261 180 3519 -216 3078759 3752705 48146311 52337399 1233747 2227006 550319 738655 53009136 59055765 12080076 10717109 0 0 23512746 27015690 42696 21277 937572 15578585 17414679 51214103 55168755 1795033 3887010 99139170 97840995 29805508 27169173 69333662 70671822 A Bay Path University education empowers undergraduate women and graduate women and men to become leaders in their careers and communities with an innovative approach to learning that prepares students to flourish in a constantly changing world. The Bay Path experience is nothing less than transformational. Our women-only undergraduate programs and our coeducational graduate programs are offered both on campus and online, providing a flexible, 21st-century education for learners at all stages of life and career. Bay Path students find a supportive and diverse community, close mentoring, and rigorous preparation for success in a complex and globally interdependent society. Students graduate with the applied knowledge, portable skillset, and confidence to thrive in their professions, identify and realize their dreams, and make a lasting difference in the world. 0 0 45093457 10696149 48156690 The University provides instruction, academic support, student services and student financial aid to carry out its exempt purposes, serving approximately 2,600 students. 2186343 0 3780972 Auxiliary enterprises provide services for the convenience of the students, faculty and staff. This includes dining services, student housing, the bookstore and other miscellaneous services. The University served approximately 2,600 students, including approximately 300 resident students. 0 0 0 47279800 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 1 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 3703 0 1 1261 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X John O'Rourke 4135651219 588 Longmeadow Street Longmeadow MA 01106 Susan Davis Abello Trustee 1 X 0 0 0 Kay Bernon Trustee 1 X 0 0 0 Jonathan F Besse Trustee 1 X 0 0 0 Roberta B Bolduc Trustee 1 X 0 0 0 James Brennan Trustee 1 X 0 0 0 Cindy M Burke Trustee 1 X 0 0 0 Carrie Burr Trustee 1 X 0 0 0 Susanne E Churchill Trustee 1 X 0 0 0 Dianne Fuller Doherty Trustee 1 X 0 0 0 Karen L Glaser Trustee 1 X 0 0 0 Ann B Hammer Trustee 1 X 0 0 0 Samuel R Hanmer Trustee 1 X 0 0 0 Stephen D Hoyt Trustee 1 X 0 0 0 George C Keady III Trustee, Board Chair 5 X X 0 0 0 Estela R Lopez Trustee 1 X 0 0 0 Grace Makari-Judson Trustee 1 X 0 0 0 Angie B McGinnis Trustee 1 X 0 0 0 Robyn A Newhouse Trustee 1 X 0 0 0 Patricia J Pierce Trustee, Board Vice Chair 2 X 0 0 0 Millie Roman-Buday Trustee 1 X 0 0 0 Lori S Roop Trustee 1 X 0 0 0 Jane E Roulier Trustee 1 X 0 0 0 Barbara Sadowsky Trustee 1 X 0 0 0 Yesenia Y Santos Trustee 1 X 0 0 0 Gloria Smith Trustee 1 X 0 0 0 Mary Ann Spencer Trustee 1 X 0 0 0 Richard B Steele Trustee 1 X 0 0 0 Katherine M Sullivan Trustee 1 X 0 0 0 Brian P Tuohey Trustee 1 X 0 0 0 Joel Vengco Trustee 1 X 0 0 0 Jeanne G Young Trustee 1 X 0 0 0 Carol A Leary President 55 X 377351 0 97294 Melissa Morriss-Olson Provost/VP for Academic Affairs 50 X 203227 0 25942 Michael Giampietro VP Finance & Administrative Services 50 X 192785 0 34799 Barbara Kochon Secretary 50 X 93512 0 22928 David Demers Chief Operating Officer TAWC 50 X 159062 0 28642 Kathleen Bourque VP for Institutional Advancement 50 X 147750 0 15583 Jennifer Hixon Director Physician Assist Program 50 X 147450 0 19097 Michael Konig Dean College of Arts & Science 50 X 146240 0 8576 Vana Nespor Chief Learning Officer 50 X 141375 0 14632 Caron Hobin Chief Strategy Officer TAWC 50 X 138794 0 28261 1747546 0 295754 22 0 1 0 Crocker Building Company Inc 186 Stafford Street Springfield MA 01104 Construction 8451157 31 Lengths LLC 15 Coolidge Avenue Rye NY 10580 Advertising and marketing creative 2103617 Aramark 1101 Market Street Philadelphia PA 19107 Food service 1510719 ReachLocal 75 Wells Avenue Suite 105 Newton MA 02459 Advertising and marketing creative 467196 Thayer Street Associates Inc 8 Coates Avenue Deerfield MA 01373 Construction 405441 13 0 0 4228 0 1461962 2286515 268648 3752705 Tuition and fees 611310 48156690 48156690 0 0 Residence and dining 611710 3780972 3780972 0 0 Women's Conference 611710 392790 392790 0 0 Theater department 711110 6947 6947 0 0 0 0 0 0 52337399 734711 0 0 734711 0 0 0 0 0 0 0 0 166750 0 69454 0 97296 0 97296 0 0 97296 18465028 0 16972733 0 1492295 0 1492295 0 0 1492295 5686 4228 6772 -1086 0 -1086 7702 2393 5309 0 0 5309 0 0 0 0 0 0 Foodservice 722212 251398 250088 1310 0 Bookstore 451211 43839 43839 0 0 Other revenue 900099 339690 339690 0 0 2209 0 2209 0 637136 59055765 52971016 3519 2328525 19700 19700 10528949 10528949 168460 168460 0 0 1246572 417827 828745 0 0 0 0 0 21275552 17936294 2698943 640315 1391775 1140521 209362 41892 1345378 1009812 291179 44387 1756413 1480656 222889 52868 0 0 0 0 82314 0 82314 0 106000 0 106000 0 0 0 0 0 21277 21277 0 0 0 0 4112195 3195259 878028 38908 3526720 3463961 62759 0 1487197 1294333 171526 21338 395017 372538 22479 0 0 0 0 0 1464717 1247582 217135 0 374687 328781 31094 14812 0 0 0 0 161587 129151 23016 9420 602516 482013 120503 0 0 0 0 0 2909688 2439827 469861 0 152968 0 152968 0 Student board 1178743 1178743 0 0 Memberships 120297 68874 48623 2800 Entertainment 500897 374514 77024 49359 239136 2005 236935 196 55168755 47279800 6951383 937572 0 0 10897516 2343388 676714 1137982 898440 1125715 0 0 0 0 2589092 2415750 66579 49685 676257 836298 78944919 39070958 34258521 39873961 47247130 46579715 1828921 3478501 0 0 0 0 0 0 99139170 97840995 4731481 2415618 752904 752904 3000938 2656057 19358942 19364699 201738 141743 0 0 0 0 0 0 1759505 1838152 29805508 27169173 X 58466400 58614802 3450738 3838404 7416524 8218616 69333662 70671822 99139170 97840995 X 3887010 -2300549 0 0 0 -248301 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 3573 3573 0 Schedule C, Part II-B, Line 1 The University has memberships with organizations that may conduct lobbying activities. The University pays membership dues to these organizations. For purposes of this filing, it is estimated that 4% of the total membership dues paid has been used in connection with lobbying activities. 0 1 X 40865240 826440 -53727 161243 19203 0 41457507 35354876 583754 5399947 137567 335770 0 40865240 31742637 562033 3214619 150208 14205 0 35354876 31902121 422915 -405706 156926 19767 0 31742637 22909661 4289469 4867418 147693 16734 0 31902121 0.7868 0.1925 0.0207 1 0 0 3420876 3420876 807790 53191637 20093688 33905739 0 626186 469640 156546 0 20898430 18507630 2390800 0 0 0 0 39873961 0 Asset retirement obligations 1515258 Annuity obligations 322894 1838152 X 46102636 -2300549 0 0 0 -2300549 48403185 0 10652580 10652580 59055765 44521505 0 0 0 48899 48899 44472606 0 10696149 10696149 55168755 Schedule D, Part IV, Line 2b The University holds deposits from students as security for residential dormitory damage, as well as tuition deposits. In addition, the University owns and rents residential properties near the campus. The tenants' security deposits are maintained in escrow accounts at a local bank. Schedule D, Part V, Line 4 The University's endowment fund is an investment portfolio comprised of donor-restricted (true) and board-designated (quasi) endowment funds. The intentions of the fund are to generate a total return that preserves the long-term real purchasing power of the endowment funds and provides a relatively predictable and increasing revenue stream to be used for donor-specified and board-designated purposes that support the mission of the University. For Schedule D, University contributions include funds transferred from donor restricted funds to the unrestricted quasi-endowment fund to support the donor restricted scholarships awarded during the year from liquid, unrestricted investments. Schedule D, Part X, Line 2 The University was granted an exempt status under Internal Revenue Code (IRC) Section 501(a) as an organization described under Internal Revenue Code Section 501(c)(3). Under IRC 501(a), the University is generally exempt from taxes on related income. Tax positions taken or expected to be taken, including the position that the University qualifies as a tax exempt entity, are required to be evaluated to determine whether the tax positions are "more-likely-than-not" to be upheld under regulatory review. Tax positions not deemed to meet the more-likely-than-not threshold would be accrued and disclosed in the financial statements. There are no uncertain tax positions that require accrual or disclosure at June 30, 2015 or 2014. Schedule D, Part XI, Line 4b Scholarships and grants, $10,696,149; golf tournament fundraising expenses, $(6,772); Rental property expenses, $(42,107); net income from gaming activities, $5,310 Schedule D, Part XII, Line 2d Golf tournament fundraising expenses, $6,772; rental property expenses, $42,107; gaming activity expenses, $20 Schedule D, Part XII, Line 4b Scholarships and grants 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Publications, applications, registration forms, newspaper advertisements and summer programs make reference to the University's racially nondiscriminatory policy. Schedule E, Part I, Line 6 All federal and state funds received are expended entirely for student financial aid in accordance with the U.S. Office of Management and Budget Circular A-133 for federal funds, and with specific requirements applicable to the Massachusetts Office of Student Financial Assistance Programs for state funds. 1 East Asia and the Pacific 0 2 Program Services Agents' commissions 8594 Central America and the Caribbean 0 0 Grantmaking 15500 East Asia and the Pacific 0 0 Grantmaking 118200 Europe (including Iceland and Greenland) 0 0 Grantmaking 4500 Middle East and North Africa 0 0 Grantmaking 12500 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 16500 Sub-Saharan Africa 0 0 Grantmaking 1670 0 2 177464 Student scholarships Central America and the Caribbean 1 15500 credit on account 0 FMV Student scholarships East Asia and the Pacific 6 118200 credit on account 0 FMV Student scholarships Europe (including Iceland and Greenland) 1 4500 credit on account 0 FMV Student scholarships Middle East and North Africa 1 12500 credit on account 0 FMV Student scholarships North America (including Canada and Mexico, but not the United States) 1 16500 credit on account 0 FMV 0 0 0 1 0 1 Schedule F, Part I, Line 2 All grants and assistance to individuals outside of the United States are given as scholarships toward tuition for foreign students to attend Bay Path University. These scholarships are monitored by the University's Financial Aid staff based on the students' merit and need. X X X X X X X 1 Washburn & McGoldrick Inc 950 New Loudon Road Latham NY 12110 Consulting 0 0 21277 -21277 0 21277 -21277 MA 1 Town of Longmeadow 20 Williams Street Longmeadow MA 01106 046001204 10000 0 FMV Equipment purchase 1 0 Scholarship and aid to students 1733 10528949 0 FMV Schedule I, Part I, Line 2 Bay Path University receives grant money from federal and state government agencies for student financial aid. This grant money is disbursed to student accounts as it is received by the University. Student awards are based on the federal and state guidelines for each type of grant. Grants to charitable organizations are made in accordance with established financial policies and procedures. X X X X 1 1 X X X 1 0 0 0 0 0 0 0 0 Carol A Leary President 372958 0 0 0 4393 0 39500 0 57794 0 474645 0 0 0 Melissa Morriss-Olson Provost/VP for Academic Affairs 202453 0 0 0 774 0 18148 0 7794 0 229169 0 0 0 Michael Giampietro VP Finance & Administrative Services 192374 0 0 0 411 0 17878 0 16921 0 227584 0 0 0 David Demers Chief Operating Officer TAWC 158868 0 0 0 194 0 14462 0 14180 0 187704 0 0 0 Kathleen Bourque VP for Institutional Advancement 147250 0 0 0 500 0 13203 0 2380 0 163333 0 0 0 Jennifer Hixon Director Physician Assist Program 146939 0 0 0 511 0 13359 0 5738 0 166547 0 0 0 Michael Konig Dean College of Arts & Science 80509 0 0 0 65731 0 7319 0 1257 0 154816 0 0 0 Vana Nespor Chief Learning Officer 140750 0 0 0 625 0 12600 0 2032 0 156007 0 0 0 Caron Hobin Chief Strategy Officer TAWC 138298 0 0 0 496 0 13083 0 15178 0 167055 0 0 0 Schedule J, Part I, Line 1a The President's employment contract allows for spousal travel. The travel is on a limited basis and typically involves the spouse's service as a chaperone on the annual honors students' trip to a world capital. The President resides in a University-owned house near the campus as required in her contract. Numerous functions take place at the President's home in support of the University's mission. Donors, staff and students are welcomed throughout the year. Given the visibility of and the many events that take place at the President's residence, a University employee cleans the home at virtually no extra cost to the University. The availability and approachability of the President is a key element to instilling the sense of community and caring that is central to the University's mission. The University pays for the President's membership in a local country club and a social club, entirely for business purposes. Schedule J, Part I, Line 4 Michael Konig received gross compensation of $65,399 pursuant to his separation from employment. A Massachusetts Development Finance Agency 043431814 2013-12-23 19500000 Construct and equip facility; refund prior issue 0 0 0 A 0 0 19500000 0 0 0 143937 0 0 11866677 6734874 754512 2014 1 0 0 1 A 0 0 1 1 0 0 0 0 0 0 1 A 0 1 1 0 1 0 0 0 1 A 1 Schedule K, Part II, Line 11-12/23/2013 19,500,000 Massachusetts Development Finance Agency Other spent proceeds of $6,734,874 represents the amount used to pay off the outstanding balance of a prior bond issue. Crocker Building Company Inc Substantial contributor 7079693 Construction of health sciences facility 0 Health New England Substantial contributor 1036439 Group insurance premiums 0 People's Bank Substantial contributor 316373 Bond interest 0 X 18 268648 FMV 0 0 1 1 Schedule M, Part I, Line 32b The University used a third party to sell gifts of stock. Form 990, Part VI, Section B, Line 11b Prior to the filing of the Form 990, a complete copy is reviewed by the University's Vice President for Finance & Administrative Services, as well as the Audit Committee of the Board of Trustees. A public disclosure copy is provided, via the Trustees internet portal, to all members of the Board of Trustees prior to the filing date. At the June meeting of the full Board of Trustees, the Audit Committee chairperson delivers a summary report on the Form 990. Form 990, Part VI, Section B, Line 12c In accordance with the University's Conflict of Interest Policy for Trustees, as contained in the Board of Trustees Bylaws, all trustees and officers are required to complete at least annually a Conflict of Interest Questionnaire and submit it to the Audit Committee of the Board of Trustees. Additionally, any potential conflict of interest which arises mid-term is required to be submitted to the Audit Committee at the earliest practical time. No trustee or officer shall vote or participate in any discussion on any matter under consideration at a Board or committee meeting, in which such trustee or officer has a conflict of interest. Any trustee or officer who is uncertain whether he/she has a conflict of interest may request the Audit Committee to make a determination in such regard, and the Audit Committee may seek an opinion from counsel for the University in such matter. The University also requires all employees to complete annually a Conflict of Interest Disclosure Form and submit it to their respective divisional vice president for review. If an employee discloses active or intended participation in an activity that is a potential conflict of interest, the supervisor and divisional vice president will evaluate the disclosure to determine the appropriate action to be taken. The employee may be asked to discontinue participation in the activity if determined to be a conflict of interest. Form 990, Part VI, Section B, Line 15 The Compensation Sub-committee ("Sub-committee") of the Executive Committee of the Board of Trustees has the responsibility for reviewing and recommending the University President's and Officers'/Key Employees' compensation to the Executive Committee. The Sub-committee considers comparative data from peer institutions, other women's colleges and other colleges in Massachusetts in determining the amount of compensation. The Sub-committee also reviews accomplishments in comparison to planned goals and objectives. The Executive Committee, comprised of independent Board of Trustee members, approves the President's and Officers'/Key Employees' compensation. Form 990, Part VI, Section C, Line 19 The University's Forms 990 and 990-T are available for public inspection at the office of the Vice President for Finance & Administrative Services upon written request. Additionally, the University's Forms 990 and PC, as well as audited financial statements, are available on the website of the Massachusetts Attorney General's office, Public Charities Division. Requests for copies of bylaws, conflict of interest policies and financial statements are directed to the Vice President for Finance & Administrative Services for a response. Form 990, Part XI, Line 9 Net assets per this Form 990 decreased $242,971 to reflect the dissolution of the related taxable entity Travel Education Corporation. Additionally $5,330 is reflected in income from gaming activities in this Form 990 but in liabilities on the audited financial statements. Travel Education Center 588 Longmeadow Street Longmeadow MA 01106 042589394 Travel education MA Bay Path University S -565 10282 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule R, Part IV Information provided for Travel Education Center was as of and for the year ended December 31, 2014. Travel Education Center was voluntarily dissolved on March 12, 2015. The University filed Form 8868 requesting an extension of the filing due date of Form 990 to May 15 2016. Form 8868 was approved by the IRS on March 28, 2016.