2014-03-10T11:39:30-05:00 2013-06-30 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2012-07-01 042108346 BECKER COLLEGE BECK 5087919241 61 SEVER STREET WORCESTER MA 01609 DAVID A ELLIS PHD 5087919241 2014-03-03 1 BARBARA E KING P00005629 5087557107 2014-01-30 2012 2015-11-30 17:44:51Z DAVID A ELLIS PHD 61 SEVER STREET WORCESTER MA 01609 55371987 0 X WWW.BECKERCOLLEGE.EDU X 1784 MA BECKER COLLEGE PROVIDES ACADEMIC AND CAREER EDUCATION INTEGRATED WITH THE LIBERAL ARTS AND SCIENCES, WHICH LEADS TO THE AWARDING OF THE ASSOCIATE IN SCIENCE DEGREES. BACCALAUREATE DEGREE PROGRAMS BUILD ON THIS STRONG LIBERAL LEARNING AND CAREER KNOWLEDGE BASE WITH ADDITIONAL COURSES AND EDUCATIONAL EXPERIENCES. WITH THE COMPLETION OF THE DEGREE, GRADUATES ARE PREPARED TO ENTER THE WORK FORCE WITHIN THEIR CHOSEN CAREER OR CONTINUE THEIR EDUCATION. STUDENTS WHO COMPLETE A DEGREE PROGRAM ARE PREARED TO ADVANCE IN THEIR PROFESSIONAL CAREERS. THROUGHOUT, OPPORTUNITIES FOR PERSONAL DEVELOPMENT ARE SUPPLEMENTED BY COLLEGE-SPONSORED ACTIVITIES, CULTURAL ENRICHMENT PROGRAMS, ATHLETICS AND COMMUNITY SERVICE PROJECTS. IN KEEPING WITH ITS MISSION, THE COLLEGE EXTENDS OPPORTUNITIES FOR EDUCATIONAL. PROFESSIONAL AND PERSONAL ADVANCEMENT THROUGH ITS ACCELERATED AND PROFESSIONAL STUDIES PROGRAMS. 20 19 976 0 0 0 2333922 1642528 47375263 51873461 89745 160516 1990 100 49800920 53676605 13481448 15743738 0 0 19596354 20742389 0 0 0 15263073 16726987 48340875 53213114 1460045 463491 39127613 40242815 19677601 20086986 19450012 20155829 X BECKER COLLEGE SERVES MORE THAN 1,700 STUDENTS FROM 18 STATES AND 12 COUNTRIES AND OFFERS OVER 25 DIVERSE, FIRST-QUALITY BACHELOR DEGREE PROGRAMS IN UNIQUE, HIGH-DEMAND CAREER NICHES RANGING FROM NURSING AND EQUINE MANAGEMENT TO COMPUTER GAME DESIGN AND A VARIETY OF ADULT LEARNING OPTIONS. WITH CAMPUSES IN WORCESTER AND LEICESTER, MA., BECKER TRACES ITS HISTORY TO 1784 AND HAS OVER 20,000 ALUMNI. 0 0 18293835 15743738 15743738 STUDENT FINANCIAL AID- FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, COLLEGE SCHOLARSHIPS AND TUITION REMISSION 8731154 28532199 INSTRUCTIONAL - FACULTY, LIBRARY & EVENING DIVISION 7129718 120294 STUDENT SERVICES - REGISTRAR'S OFFICE, STUDENT SERVICE ADMINISTRATION, STUDENT SERVICES, ADMISSIONS AND FINANCIAL AID ADMINISTRATION 6371254 7477230 AUXILIARY ENTERPRISES - DORMITORY, DINING HALLS, BOOKSTORE, STUDENT CENTER, ANIMAL HOSPITAL & CLINIC, DAYCARE CENTER, AND SNACKBAR 6371254 7477230 40525961 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4574 0 1 976 1 0 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X RICHARD N NAYLOR 5083739453 61 SEVER STREET WORCESTER MA 01609 MARY T ALEKSIEWICZ 2.00 X 0 0 0 ROBERT A BERNSTEIN 2.00 X 0 0 0 P SCOTT CONTI 2.00 X 0 0 0 THE HONORABLE MARTHA P GRACE 2.00 X 0 0 0 JOHN E GRAHAM 2.00 X 0 0 0 TIMOTHY F HORAN 2.00 X 0 0 0 W PATRICK HUGHES 2.00 X 0 0 0 JOY J MCHUGH 2.00 X 0 0 0 FRANCES E POLITO 2.00 X 0 0 0 DANIEL M PROUTY 2.00 X 0 0 0 CHRISTOPHER P PROVO 2.00 X 0 0 0 PETER J ROWDEN 2.00 X 0 0 0 DR JERRIANNE SEGER 2.00 X 0 0 0 PAOLO SINNI 2.00 X 0 0 0 JOHN L SULLIVAN MD 2.00 X 0 0 0 SARAH H WILLIAMS 2.00 X 0 0 0 ARTHUR P DIGERONIMO JR 2.00 X 0 0 0 RICHARD LPYLE 2.00 X 0 0 0 GEORGE J ISAAC CPA 2.00 X 0 0 0 JOHN H BUDD 2.00 X 0 0 0 DAVID A ELLIS PHD 37.50 X 251500 0 38580 DEAN HICKEY 37.50 X 126043 0 21703 ELIZABETH FULLER 37.50 X 145987 0 28179 COLLEEN BIELITZ 37.50 X 120864 0 16777 KEVIN MAYNE 37.50 X 174580 0 17458 NANCY CRIMMIN 37.50 X 123817 0 25662 ROBERT JOHNSON PHD 37.50 X 363008 0 38580 RICHARD FRENCH 37.50 X 155056 0 29086 LINDA ESPER 37.50 X 112994 0 24879 KEN CAMERON 37.50 X 112249 0 24805 RICHARD NAYLOR 37.50 X 107213 0 10721 1793311 0 276430 11 0 1 0 CHARTWELLS 91337 COLLECTIONS DRIVE CHICAGO IL 60693 FOOD SERVICE VENDOR 2869438 RP MASIELLO PO BOX 742 BOYLSTON MA 01505 CONSTRUCTION CONTRACTOR 1707040 ELLUCIAN 4375 FAIR LAKES CT FAIRFAX VA 22033 IT CONSULTANT 1629929 DATATEL INC 4735 FAIR LAKES COURT FAIRFAX VA 22033 IT SOLFTWARE VENDOR 316001 ALDEN T ROYS TRUST 30 HIGHLAND STREET WORCESTER MA 01609 REAL ESTATE PAYMENT 274050 6 469550 1172978 1642528 TUITION & FEES 611310 44171124 44171124 AUXILIARY ENTERPRISES 611710 7477230 7477230 STUDENT ACTIVITIES 611710 120294 120294 EDUCATIONAL SERVICES 611710 104813 104813 51873461 115384 115384 100 0 100 100 100 1740514 1695382 45132 45132 45132 53676605 51873461 0 160616 15743738 15743738 16098829 12284701 3814128 1110304 722871 387433 1771097 958030 813067 1762159 1230404 531755 202151 202151 77021 77021 838944 291751 547193 233998 16950 217048 1495406 957770 537636 3369296 2661588 707708 512021 308638 203383 477358 477358 2191779 1643833 547946 509672 1318 508354 FOOD SERVICE 2800325 2763520 36805 OUTSIDE SERVICE VENDORS 2771053 669395 2101658 OTHER EXPENSES 586280 271454 314826 COMMUNICATIONS 337635 337635 324048 324048 53213114 40525961 12687153 0 3408335 2212423 800623 482767 749653 394963 1311906 1085134 52341 52895 7344 10744 443150 478886 53674773 22184768 30046819 31490005 2049441 3786692 258001 248306 39127613 40242815 3274304 2934739 13187952 13019298 3215345 4132949 19677601 20086986 X 15189190 15566172 732989 1001315 3527833 3588342 19450012 20155829 39127613 40242815 X 463491 186511 55815 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3242559 560509 330307 165132 3968243 2374753 996836 -16425 112605 3242559 1598299 592082 250959 -66587 2374753 1498853 65228 90318 -56100 1598299 1402716 127268 25144 -56275 1498853 0.09570 0.90430 0 0 3479251 3479251 40930837 18798144 22132693 7419118 3140405 4278713 1845567 246219 1599348 31490005 FIXED INCOME FUNDS 800497 F EQUITIES 2156018 F STRUCTURED PRODUCTS 693535 F CLOSE-END FUNDS 136642 F 3786692 PREPAYMENTS AND DEPOSITS 4076460 ASSETS HELD FOR FEDERAL PERKINS LOAN PROGRAM 56489 4132949 X 38175193 186511 55815 242326 37932867 15743738 15743738 53676605 37469376 0 37469376 15743738 15743738 53213114 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. ENDOWMENT FUNDS INCLUDE INVESTED GIFTS AND CASH. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE COLLEGE CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE COLLEGE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE COLLEGE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DELATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE ORGANIZATION; AND THE INVESTMENT POLICIES OF THE ORGANIZATION. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE COLLEGE'S INVESTMENT COMMITTEE SHALL SEEK TO INVEST THE ENDOWMENT FUNDS IN SUCH A MANNER THAT THE INVESTMENTS WILL PROVIDE A SPENDABLE RETURN CONSISTENT WITH A LONG-TERM GOAL OF PRESERVING THE FUNDS IN REAL TERMS. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE COLLEGE HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE COLLEGE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AS NEEDED, AMOUNTS FOR THE PURPOSE OF SCHOLARHSIPS AND FINANCIAL AID, CAPITAL PROJECTS, AND SPECIAL PROGRAMS. IN ESTABLISHING THIS POLICY, THE COLLEGE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE COLLEGE TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, DEFICIENCIES OF THIS NATURE ARE REPORTED IN UNRESTRICTED NET ASSETS. SUCH DEFICIENCIES AMOUNTED TO $24,224 AS OF JUNE 30, 2013. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE QUALIFIES AS A TAX-EXEMPT, NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAX IS REQUIRED. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE UPON THE COLLEGE'S STATEMENTS OF FINANCIAL POSITION, OR THE RELATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. THE COLLEGE FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE COLLEGE IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS 55,815. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 15,743,738. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 15,743,738. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 2013-2014 BECKER STUDENT HANDBOOK EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 BECKER COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE GOVERNMENT THROUGH GRANTS THAT ARE PROVIDED TO THE STUDENTS TO FUND THEIR EDUCATION. X X X 1 THOMAS DOLAN 5 TOWNSEND CIRCLE WEST BOYLSTON MA 01583 DEVELOPMENT CONSULTANT 0 0 15000 -15000 15000 -15000 0 INSTITUTIONAL FINANCIAL AID 1879 15743738 X X X 1 1 0 0 0 0 0 0 0 0 0 DAVID A ELLIS PHD 251500 0 0 0 0 0 25000 0 13580 0 290080 0 0 0 ELIZABETH FULLER 145987 0 0 0 0 0 14599 0 13580 0 174166 0 0 0 KEVIN MAYNE 174580 0 0 0 0 0 17458 0 0 0 192038 0 0 0 ROBERT JOHNSON PHD 316808 0 0 0 46200 0 25000 0 13580 0 401588 0 0 0 RICHARD FRENCH 155056 0 0 0 0 0 15506 0 13580 0 184142 0 0 0 A BECKER COLLEGE 042108346 57583RHA6 2006-12-01 11445000 BUILDING ON NEW DORM & ATHLETIC FIELD RENOVATION 0 0 0 A 1020000 11445000 290838 31724 11413276 2009 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 SOVEREIGN BANK (2) 10.000000000000 0 0 0 0 1 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CFO AND THE FINANCE BOARD MEMBER, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO INSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS, OFFICERS, AND EMPLOYEES ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. FORM 990, PART VI, SECTION B, LINE 15 BENEFITS AND COMPENSATION FOR SENIOR MANAGEMENT ARE DETERMINED AFTER BENCHMARKING TOTAL COMPENSATION AT COMPARABLE INSTITUTIONS WITH SIMILAR POSITIONS. RESOURCES USED ARE THE CHRONICLE OF HIGHER EDUCATION, INSIDE HIGHER EDUCATION, COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS (NACUBO), COLLEGES OF THE WORCESTER CONSORTIUM AND THE SOUTHERN NEW ENGLAND COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION LIST SERVE. FORM 990, PART VI, SECTION C, LINE 19 INTERESTED PARTIES/QUESTIONS CONCERNING THE 990 ARE DIRECTED TO THE STATE'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS 55,815.