2015-05-13T10:06:32-07:00 2014-06-30 990 2013-07-01 042103865 Bay Path University BAYP 4135651000 588 Longmeadow Street Longmeadow MA 01106 Michael Giampietro Vice President Finance & Admin Serv 4135651251 2015-05-13 2013 2016-03-07 17:11:31Z Michael Giampietro 588 Longmeadow Street Longmeadow MA 01106 78753885 0 X www.baypath.edu X 1940 MA Distinctive, progressive, professionally-focused four-year and graduate university for undergraduate women and co-educational graduate students. 32 31 1167 159 -510 -2030 3054577 3078759 45362640 48146311 1688562 1233747 255083 550319 50360862 53009136 11435109 12080076 0 0 20808597 23512746 16857 42696 975880 12075813 15578585 44336376 51214103 6024486 1795033 77620808 99280228 14278552 29946566 63342256 69333662 A pioneer in innovative undergraduate programs for women, as well as professional graduate degrees for men and women, Bay Path University educates students to become confident and resourceful contributors to our increasingly interdependent world through its focus on leadership, communication, and technology. Students are challenged to accept the responsibilities and to experience the rewards of leadership through their education at Bay Path University. Opportunities to build and strengthen technological, analytical, and oral and written communication skills are thoroughly integrated into the curriculum. Students apply and expand their knowledge through internships, field placements, or focused projects in a wide variety of settings. The University, which values and promotes diversity, respects the needs, views, and rights of others. A dedicated community of faculty and staff fosters the social, personal, and intellectual development of all students. 0 0 41730775 12070668 43731765 The University provides instruction, academic support, student services and student financial aid to carry out its exempt purposes, serving approximately 2,360 students. 2156318 0 3986589 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 serves approximately 2,360 students, including approximately 330 resident students. 0 0 0 43887093 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 3566 0 1 1167 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X Donna Guertin 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 Susanne E Churchill PhD Trustee 1 X 0 0 0 Marvin A Coote 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 Suki Kramer Trustee 1 X 0 0 0 Estela R Lopez PhD Trustee 1 X 0 0 0 Grace Makari-Judson MD Trustee 1 X 0 0 0 Lotrecia A Marchand Trustee 1 X 0 0 0 Angie B McGinnis Trustee 1 X 0 0 0 Robyn A Newhouse PhD Trustee 1 X 0 0 0 Patricia J Pierce CFA Trustee, Board Vice Chair 2 X X 0 0 0 Jane E Roulier Trustee 1 X 0 0 0 Barbara Sadowsky Trustee 1 X 0 0 0 Gloria Smith Trustee 1 X 0 0 0 Mary Ann Spencer CFA Trustee 1 X 0 0 0 Richard B Steele Trustee 1 X 0 0 0 Katherine M Sullivan Trustee 1 X 0 0 0 Amanda W Toner Trustee 1 X 0 0 0 Brian P Tuohey Trustee 1 X 0 0 0 Ruth M Vignati Trustee 1 X 0 0 0 Courtney L Whalen Trustee 1 X 0 0 0 Jeanne G Young Trustee 1 X 0 0 0 Carol A Leary PhD President 55 X 361770 0 98383 Melissa Morriss-Olson Provost/VP for Academic Affairs 50 X 189582 0 24300 Michael Giampietro VP for Finance & Administrative Services 50 X 178321 0 32941 Barbara Kochon Secretary 50 X 90275 0 22731 David Demers Chief Operating Officer TAWC 50 X 143742 0 26224 Kathleen Bourque VP for Institutional Advancement 50 X 139696 0 14803 Lori Vaughn Chair of Occupational Therapy Department 50 X 138754 0 23786 Jennifer Hixon Director Physician Assist Program 50 X 137729 0 19119 Caron Hobin Chief Strategy Officer TAWC 50 X 133413 0 25742 1513282 0 288029 20 0 1 0 Aramark 1101 Market Street Philadelphia PA 19107 Food service 1455042 Kurtz Inc P O Box 1597 Westfield MA 01086 Construction 1169408 Crocker Building Company Inc 186 Stafford Street Springfield MA 01104 Construction 514715 Six-Point Creative Works Inc 9 Hampden Street Springfield MA 01103 Advertising and marketing creative 341729 U S International Media LLC 1201 Alta Loma Road Los Angeles CA 90069 Digital media advertising 328226 12 0 0 5805 0 1022010 2050944 782965 3078759 Tuition and fees 611310 43731765 43731765 0 0 Residence and dining 611710 3986589 3986589 0 0 Women's Conference 611710 417050 417050 0 0 Theater department 711110 10907 10907 0 0 0 0 0 0 48146311 625040 0 0 625040 0 0 0 0 0 0 0 0 143166 0 71891 0 71275 0 71275 0 0 71275 26272688 0 25663981 0 608707 0 608707 0 0 608707 5579 5805 8877 -3298 0 -3298 Foodservice 722212 233687 233142 545 0 Other revenue 900099 205731 205731 0 0 Bookstore 451211 43979 43979 0 0 -1055 0 -1055 0 482342 53009136 48629163 -510 1301724 0 0 11901472 11901472 178604 178604 0 0 1019442 221031 798411 0 0 0 0 0 18715456 15796231 2275643 643582 1205856 1000319 164056 41481 1024748 747028 240032 37688 1547244 1305874 188145 53225 0 0 0 0 34081 0 34081 0 50950 0 50950 0 0 0 0 0 42696 42696 0 0 0 0 3807601 2956391 801435 49775 2815839 2656806 159033 0 1367645 1213597 135333 18715 93704 50612 43092 0 0 0 0 0 1396292 1175577 220715 0 500870 384765 90250 25855 0 0 0 0 178894 167400 7093 4401 453246 404106 49140 0 0 0 0 0 2558641 2088925 469716 0 169671 0 169671 0 Student board 1167420 1167420 0 0 Memberships 102955 59762 40615 2578 Entertainment 536456 398343 82437 55676 344320 12830 331282 208 51214103 43887093 6351130 975880 0 0 1637827 10897516 800051 676714 901624 898440 0 0 0 0 2573535 2589092 67525 66579 650336 817315 70489332 36230811 27944146 34258521 41404618 47247130 1641146 1828921 0 0 0 0 0 0 77620808 99280228 2396908 4731481 752904 752904 2437069 3000938 6790133 19500000 174812 201738 0 0 0 0 0 0 1726726 1759505 14278552 29946566 X 53405464 58466400 3134487 3450738 6802305 7416524 63342256 69333662 77620808 99280228 1795033 4196373 0 0 0 0 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 2730 2730 0 Schedule C, Part II-B, Line 1 The University has memberships and affiliations with organizations that may conduct lobbying activities. The University pays annual 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 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 18747154 1786601 2491523 115617 0 0 22909661 0.7949 0.1805 0.0246 1 0 0 3353938 3353938 821065 39922948 18542828 22201185 0 626186 407021 219165 0 19739794 17280962 2458832 0 6025401 0 6025401 34258521 0 Asset retirement obligations 1445718 Annuity obligations 313787 1759505 X 45189577 4196373 0 0 0 4196373 40993204 0 12015932 12015932 53009136 39198872 0 0 0 55437 55437 39143435 0 12070668 12070668 51214103 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 College 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 College is generally exempt from taxes on related income. Tax positions taken or expected to be taken, including the position that the College 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, 2014 or 2013. The College records interest and penalties as part of income tax expense. No interest or penalties were recorded for the years ended June 30, 2014 or 2013. Schedule D, Part XI, Line 4b Scholarships and Grants, $12,070,668; Golf Tournament Fundraising Expenses, $(8,877); Rent Expenses, $(45,859) Schedule D, Part XII, Line 2d Golf Tournament Fundraising Expenses, $8,877; Travel Ed (wholly owned, inactive subsidiary) Expenses, $701; Rent Expenses, $45,859. 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 Europe (including Iceland and Greenland) Program Services Study abroad 45402 Europe (including Iceland and Greenland) Program Services Student travel/trip 9555 Sub-Saharan Africa Program Services Marketing 15108 Central America and the Caribbean Grantmaking 15500 East Asia and the Pacific Grantmaking 122696 Europe (including Iceland and Greenland) Grantmaking 9000 North America (including Canada and Mexico, but not the United States) Grantmaking 16500 Sub-Saharan Africa Grantmaking 5500 0 0 239261 Sub-Saharan Africa To support the Sajuka Nursery School with supplies and other aid 15108 Wire transfers 0 FMV 1 0 Student scholarships Central America and the Caribbean 1 15500 credit on billed account 0 FMV Student scholarships East Asia and the Pacific 7 122696 credit on billed account 0 FMV Student scholarships Europe (including Iceland and Greenland) 1 9000 credit on billed account 0 FMV Student scholarships North America (including Canada and Mexico, but not the United States) 1 16500 credit on billed account 0 FMV Student scholarships Sub-Saharan Africa 1 5500 credit on billed account 0 FMV 0 0 0 1 0 0 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 22270 -22270 Development Institute Inc 150 Staniford Street Boston MA 02114 Consulting 0 0 18750 -18750 0 41020 -41020 MA 1 Scholarships and aid to students 1935 11901472 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. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Carol A Leary PhD President 356192 0 0 0 5578 0 39600 0 58783 0 460153 0 0 0 Melissa Morriss-Olson Provost/VP for Academic Affairs 188880 0 0 0 702 0 16699 0 7601 0 213882 0 0 0 Michael Giampietro VP for Finance & Administrative Services 178087 0 0 0 234 0 16327 0 16614 0 211262 0 0 0 David Demers Chief Operating Officer TAWC 143587 0 0 0 155 0 13049 0 13175 0 169966 0 0 0 Kathleen Bourque VP for Institutional Advancement 139448 0 0 0 248 0 12539 0 2264 0 154499 0 0 0 Lori Vaughn Chair of Occupational Therapy Department 138705 0 0 0 49 0 8011 0 15775 0 162540 0 0 0 Jennifer Hixon Director Physician Assist Program 137264 0 0 0 465 0 12533 0 6586 0 156848 0 0 0 Caron Hobin Chief Strategy Officer TAWC 132949 0 0 0 464 0 12498 0 13244 0 159155 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 to 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. 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 3112322 6734874 9508867 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. X 28 782965 FMV 0 1 1 Schedule M, Part I, Line 32b The University uses 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. Travel Education Center 588 Longmeadow Street Longmeadow MA 01106 042589394 Travel education MA Bay Path University S -701 10282 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 The University filed Form 8868 requesting an extension of the filing due date of Form 990 to May 15 2015.