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RISK RESOURCES 930 COMMONWEALTH AVENUE BOSTON MA 02215 INSURANCE MANAGEMENT 601794 KPMG LLP 2 FINANCIAL CENTER 60 SOUTH STREET BOSTON MA 02111 AUDITORS 235775 CAMBRIDGE ASSOCIATES 100 SUMMER STREET BOSTON MA 02110 INVESTMENT ADVISORS 200903 NCM DEMOLITION REMEDIES 14 JEWEL DRIVE WILMINGTON MA 01887 FACILITIES SERVICES 149081 5 126550 2235000 3992450 126072 6354000 TUITION AND FEES 900099 186856000 186856000 AUXILIARY 900099 45165542 44119150 1046392 CONFERENCE SERVICES 721000 1023069 1023069 NATATORIUM USE 713990 96579 96579 233141190 662000 -31982 693982 0 0 52143000 52413000 -270000 -270000 -270000 32200 126550 35748 -3548 -3548 0 0 OTHER SOURCES 900099 2053000 2053000 2053000 241936642 233028150 1087666 1466826 0 0 60106475 60106475 2213525 2213525 0 0 2394770 222435 1873651 298684 0 79456312 64889609 12503255 2063448 6185146 4428655 1610396 146095 11131325 8035510 2832889 262926 5132694 4079243 932215 121236 834299 306139 398632 129528 314008 0 314008 0 342450 0 342450 0 3635 0 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 3635 3635 false LOBBYING EXPENSES PART II-B, LINE 1I TOTAL MISCELLANEOUS LOBBYING EXPENSES OF $3,635 INCLUDES DUES PAID TO AICUM AS IT RELATES TO AICUM'S LOBBYING EFFORTS. 242465 X false false 199966000 2344000 -1968000 2293506 5340494 192708000 162734000 14154000 30201000 2478770 4644230 199966000 150082000 296000 20682000 2688612 5637388 162734000 213924000 360000 -54021000 2550479 7630521 150082000 0.62000 0.20000 0.18000 true false 31871000 31871000 326780000 125612598 201167402 45625000 34430449 11194551 411000 61953 349047 244582000 HEDGE FUNDS 43833970 F PARTNERSHIPS 18194833 F 62028803 0 INTEREST RATE SWAP AGREEMENTS 34697000 POST RETIREMENT BENEFITS 5096000 REFUNDABLE U.S. GOVERNMENT GRANTS 6691000 46484000 241936642 242516642 -580000 4129000 -24561000 -20432000 -21012000 221540390 4129000 -24561000 -20432000 241972390 -35748 -35748 241936642 242552390 35748 35748 242516642 242516642 ENDOWMENT FUNDS PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT PROVIDES FOR SCHOLARSHIP TO STUDENTS, SUPPORT FOR ACADEMIC PROGRAMS, AND SUPPORT FOR PROGRAM ACTIVITIES. IN ADDITION, QUASI ENDOWMENT REPRESENTS 62% OF THE ENDOWMENT AND THOSE FUNDS ARE AVAILABLE FOR USE ON AN AS NEEDED BASIS. OTHER CHANGES IN NET ASSETS PART XI, LINE 8 THE AMOUNT REPRESENTS CHANGE IN FAIR VALUE OF INTEREST RATES SWAPS (-$15.962M) + CHANGE IN VALUE OF SPLIT INTERESTS (+$679K), POST RETIREMENT COSTS (-$2K), CHANGE IN PLEDGE VALUATIONS (-$1.943M) AND ENDOWMENT RETURN UTILIZED IN OPERATIONS (-7.333M) OTHER CHANGES IN NET ASSETS PART XII, LINE 2D AMOUNT REPRESENTS CHANGE IN FAIR VALUE OF INTEREST RATE WAS (-$15.962M) + CHANGE IN VALUE OF SPLIT INTEREST (+$679K), POST RETIREMENT COSTS (-$2K), CHANGE IN PLEDGE VALUATIONS (-$1.943M) AND ENDOWMENT RETURN UTILIZED IN OPERATIONS (-$7.333M). OTHER REVENUE INCLUDED ON FORM 990, PART VIII, BUT NOT ON LINE 1 PART XII, LINE 4B RECLASS OF FUNDRAISING EXPENSES -35,748 OTHER EXPENSES ON LINE 1, BUT NOT ON FORM 990, PART IX, LINE 25 PART XIII, LINE 2D RECLASS OF FUNDRAISING EXPENSES 35,748 FINANCIAL STATEMENTS PART X, LINE 2 THE UNIVERSITY GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). ASC 740, INCOME TAXES, PERMITS AN ENTITY TO RECOGNIZE THE BENEFIT AND REQUIRES ACCRUAL OF AN UNCERTAIN TAX POSITION ONLY WHEN THE POSITION IS "MORE LIKELY THAN NOT" TO BE SUSTAINED IN THE EVENT OF EXAMINATION BY TAX AUTHORITIES. IN EVALUATING WHETHER A TAX POSITION HAS MET THE RECOGNITION THRESHOLD, THE UNIVERSITY MUST PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. ASC 740 ALSO PROVIDES GUIDANCE ON THE RECOGNITION, MEASUREMENT, AND CLASSIFICATION OF INCOME TAX UNCERTAINTIES, ALONG WITH ANY RELATED INTEREST OR PENALTIES. TAX POSITIONS DEEMED TO MEET THE "MORE-LIKELY THAN-NOT" THRESHOLD ARE RECORDED AS TAX EXPENSE IN THE CURRENT YEAR. THERE WERE NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2012 OR 2011. COLLETCTIONS OF ART PART III, LINE 4 THE UNIVERSITY OWNS A MODERN COLLECTION OF ABOUT 30 PAINTINGS AND SCULPTORS THAT APPEAR IN PUBLIC COMMON AREAS THROUGHOUT THE CAMPUS, IN CONFERENCE ROOMS, AND IN THE PRESIDENT'S HOUSE. 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 OF EMPLOYMENT IN, ANY OF ITS EDUCATIONAL PROGRAMS OR ACTIVITIES, INCLUDING SCHOLARSHIPS, LOANS, AND ATHLETICS, ON THE BASIS OF RACE, COLOR, SEX, MARITAL OR PARENTAL STATUS, AGE, NATIONAL OR ETHNIC ORIGIN, RELIGION, HANDICAP OR DISABILITY. THE COLLEGE COMPLIES WITH THE 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 HAD EXPERIENCED ADVERSE TREATMENT MAY REGISTER A COMPLAINT WITH THE PRESIDENT'S ASSISTANT FOR EQUAL OPPORTUNITY, ROOM 306, RAUCH ADMINISTRATION CENTER, BENTLEY UNIVERSITY, 175 FOREST STREET, WALTHAM, MA 02452, TELEPHONE 781-891-2907. THE UNIVERSITY'S NONDISCRIMINATORY POLICY IS PUBLISHED IN STUDENT REGISTRATION MATERIALS, THE UNIVERSITY'S COURSE CATALOG, AND FOR THE RECRUITMENT PROCESS ON THE HUMAN RESOURCE WEBSITE. 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 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 1478675 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 3903567 Middle East and North Africa 0 0 Program Services STUDY ABROAD 94300 South America 0 0 Program Services STUDY ABROAD 322082 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 224600 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 69330 Central America and the Caribbean 0 0 Investments 14899684 0 0 0 0 20992238 20992238 SCHOLARSHIPS ASSISTANCE East Asia/Pacific 45 442929 ACCT CREDIT SCHOLARSHIPS ASSISTANCE Europe/Iceland/Greenland 147 1645111 ACCT CREDIT SCHOLARSHIPS ASSISTANCE Sub-Saharan Africa 5 49710 ACCT CREDIT SCHOLARSHIPS ASSISTANCE South America 3 75775 ACCT CREDIT true false false false true true PART I, LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS WHO WISH TO STUDY ABROAD. THESE AMOUNTS ARE APPLIED TO EACH STUDENT'S ACCOUNT AND ARE USED TO OFFSET THE COST OF THE PROGRAM. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. GOLF 158750 126550 32200 0 7368 28380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 158750 126550 32200 0 7368 28380 0 0 0 35748 -3548 true SCHOLARSHIPS ASSISTANCE 2930 60106475 PART I LINE 2 THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. THESE AMOUNTS ARE APPLIED TO EACH STUDENT'S ACCOUNT. THE STUDENT DOES NOT DIRECTLY RECEIVE THIS ASSISTANCE. X X X true true X X X X X true false false false false false false true false GLORIA C LARSON 458451 0 120000 0 4596 0 24500 0 69336 0 676883 0 0 0 TRACI LOGAN 318640 0 20000 0 0 0 24500 0 12719 0 375859 0 0 0 MIKE PAGE 332765 0 0 0 0 0 24500 0 8706 0 365971 0 0 0 PAUL CLEMENTE 292771 0 7500 0 0 0 24500 0 18652 0 343423 0 0 0 JOANN MCKENNA 269910 0 18500 0 0 0 24500 0 6339 0 319249 0 0 0 JOHN MOSSER 128372 0 0 0 128371 0 24500 0 26277 0 307520 0 0 0 JUDY MALONE 185521 0 12500 0 0 0 19472 0 26148 0 243641 0 0 0 ROBERT GALLIERS 310198 0 0 0 67375 0 24500 0 9206 0 411279 0 0 0 JAMES HUNTON 307616 0 0 0 92900 0 24500 0 22836 0 447852 0 0 0 M LYNNE MARKUS 256899 0 0 0 83310 0 24500 0 8630 0 373339 0 0 0 JEAN BEDARD 271321 0 0 0 58192 0 24500 0 4738 0 358751 0 0 0 MOHAMMED ABDOLMOHAMMADI 218469 0 0 0 39881 0 22484 0 23615 0 304449 0 0 0 KATHLEEN YORKIS 104605 0 7500 0 104604 0 21525 0 23198 0 261432 0 0 0 BENEFITS PART II, 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 NONTAXBLE BENEFIT IN COLUMN D. IN ADDITION,ESTIMATED PERSONAL COST RELATED TO MAID SERVICE FOR THE HOUSE IS $4,596 WHICH IS INCLUDED AS TAXABLE INCOME. PART I, LINE 4A VICE PRESIDENT KATHLEEN YORKIS TERMINATED EMPLOYMENT ON JUNE 30,2011. SHE RECEIVED A CHANGE OF CONTRACT PAYMENT OF HER MONTHLY SALARY FROM JULY 2011 THROUGH DECEMBER 2012. AMOUNTS PAID DURING THE 2011 CALENDAR YEAR FOR CHANGE OF CONTRACT TOTALED $104,604. VICE PRESIDENT JOHN MOSSER TERMINATED EMPLOYMENT ON JUNE 30, 2011. HE HAS RECEIVED A CHANGE OF CONTRACT PAYMENT OF HIS MONTHLY SALARY FROM JULY 2011 THROUGH APRIL 2012. AMOUNTS PAID DURING THE 2011 CALANDER YEAR FOR CHANGE OF CONTRACT TOTALED $128,371. 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. PART II, COLUMN B(III) DURING THE REPORTING PERIOD, PROFESSORS GALLIERS, HUNTON, MARKUS, BEDARD, AND ABDOLMOHAMMADI 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. GE GOVERNMENT FINANCE 043431814 999999999 2008-05-15 60000000 $56.1M REFUNDING PRIOR TO DEBT; $3 false false false MDFA 043431814 57583R2N4 2010-09-16 41816878 REFUNDING false false false 0 0 60000000 0 0 0 112550 0 0 3787450 56100000 0 2008 true false true true 0 0 41816878 0 0 0 454697 0 0 0 41362181 0 2010 true false true true false false false false true 0.01190 0.01190 true 0 true false true false 0 false 0 false false false false false 0 false 0 false false PART V SEE SCHEDULE O NA N/A 12280 SCHOLARSHIP NA N/A 21224 TUITION BCBS OF MASSACHUSETTS GLORIA LARSON - PRESIDENT 167512 SEE PART V false BUSINESS TRANSACTIONS WITH INTERESTED PERSONS PART IV LINE 2 GLORIA LARSON IS A BOARD MEMBER AT BLUE CROSS BLUE SHIELD, AN INSURANCE COMPANY THE UNIVERSITY USES TO OFFER HEALTH COVERAGE FOR ITS RETIRED EMPLOYEES ONLY. THEIR APPOINTMENT IS RENEWED ANNUALLY FOLLOWING REVIEW AND RECOMMENDATION OF PRODUCT OFFERING AND PRICING BY AN INDEPENDENT BROKER. FURTHERMORE, MS. LARSON WAS NOT INVOLVED IN THE REVIEW PROCESS. X 14 114235 FAIR MARKET VALUE X EQUIPMENT 2 5597 FAIR MARKET VALUE X MISC. EVENTS/TICKETS 3 6240 FAIR MARKET VALUE 0 false true false PART I, COLUMN B THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART I, LINE 3 BENTLEY IS ON ITS WAY TO BECOMING THE LEADING BUSINESS UNIVERSITY - MORE VIGOROUS, MORE ACCOMPLISHED, AND MORE RELEVANT TO THE WORLD OF BUSINESS AND EDUCATION THAN EVER BEFORE. TO FULLY REALIZE ITS POTENTIAL, BENTLEY WILL LEVERAGE ITS SINGULAR ATTRIBUTES AND BE MARKET-INFORMED IN DEFINING WHAT AN EXCEPTIONAL BUSINESS EDUCATION SHOULD BE NOW AND IN THE FUTURE. BENTLEY WILL CONTINUE PROVIDING THE WELL-ROUNDED, HIGHLY PERSONAL EDUCATIONAL EXPERIENCE THAT ONLY A PLACE-BASED, FACE-TO-FACE ENVIRONMENT CAN DELIVER, WHILE ENHANCING THIS EXPERIENCE WITH INNOVATIVE, TECHNOLOGY-ENABLED PLATFORMS. THE BUSINESS WORLD NEEDS GRADUATES WHO ARE SMART, NIMBLE, COMPASSIONATE MEN AND WOMEN AND WHO ARE PREPARED TO GET THINGS DONE FROM DAY ONE AND TO CONTINUE THEIR GROWTH TO BECOME HIGHLY EFFECTIVE, ETHICAL AND SOCIALLY RESPONSIBLE LEADERS AND BENTLEY INTENDS TO ACCOMPLISH THIS GOAL THROUGH: ITS FACULTY OF OUTSTANDING TEACHER-SCHOLARS WHO BALANCE GREAT TEACHING IN THE CLASSROOM WITH RELEVANT, HIGH-IMPACT RESEARCH. CONTINUED INVESTMENT IN OUR TEACHER-SCHOLAR MODEL OF EDUCATION WILL ATTRACT MORE TOP-TIER STUDENTS/FACULTY, HELP IDENTIFY MARKET CHANGES, ENGAGE MORE ACADEMIC, CORPORATE AND EXTERNAL PARTNERS, AND GROW BENTLEY'S DOMESTIC AND INTERNATIONAL REPUTATION. ITS PHYSICAL, TECHNOLOGICAL AND HUMAN ENVIRONMENT, WHICH IS DESIGNED TO MEET THE DYNAMIC, CHANGING LEARNING ENVIRONMENT THAT CHARACTERIZES HIGHER EDUCATION TODAY. CONSTANTLY UPDATING AND IMPROVING THESE ENVIRONMENTS WILL SUPPORT AND ENHANCE STUDENT LIFE AND DIVERSITY AT BENTLEY. TAKEN TOGETHER, INVESTMENTS IN THESE TARGETED AREAS WILL ENSURE THAT BENTLEY GROWS IN STATURE AS A WELL-REGARDED, MARKET-INFORMED BUSINESS UNIVERSITY - A UNIVERSITY THAT PRODUCES HIGHLY RESPECTED RESEARCH AND IDEAS AND GRADUATES GREATLY IN DEMAND WHO WILL BE RECOGNIZED AS SMART, NIMBLE, COMPASSIONATE LEADERS. BENTLEY UNIVERSITY ENJOYS A STRONG POSITION IN MANY MAJOR RANKINGS INCLUDING: - US NEWS & WORLD REPORT - RANKED # 6 AMONG REGIONAL UNIVERSITIES AND ONE OF TOP 50 BEST BUSINESS PROGRAMS IN NATION; ALSO, NAMED AMONG THE TOP 100 IN THE NATION FOR ITS GRADUATE SCHOOL OF BUSINESS, - BLOOMBERG'S BUSINESS WEEK - RANKED AMONG THE TOP 30 IN THE NATION FOR BEST UNDERGRADUATE BUSINESS SCHOOLS - ASPEN INSTITUTE - NAMED AS ONE TOP 100 WORLDWIDE FOR ITS GRADUATE SCHOOL OF BUSINESS - SELECTED FOR INCLUSION IN THE 2012 EDITION OF THE PRINCETON REVIEW GUIDE WHICH PROFILES INSTITUTIONS OF HIGHER EDUCATION THAT DEMONSTRATE A NOTABLE COMMITMENT TO SUSTAINABILITY UNDERGRADUATE AND GRADUATE BUSINESS PROGRAMS AT BENTLEY UNIVERSITY ARE ACCREDITED BY THE AACSB INTERNATIONAL (THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS). THE ACCREDITATION INDICATES THAT BENTLEY UNIVERSITY MEETS OR EXCEEDS ESTABLISHED STANDARDS, AS DETERMINED BY PERIODIC AACSB PEER GROUP REVIEW. THE AACSB QUALITY STANDARDS RELATE TO CURRICULUM, FACULTY RESOURCES, ADMISSION, DEGREE REQUIREMENTS, LIBRARY AND COMPUTER FACILITIES, FINANCIAL RESOURCES AND INTELLECTUAL CLIMATE. BENTLEY UNIVERSITY IS ONE OF ONLY TWO 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. BENTLEY UNIVERSITY IS ALSO ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES INC. (NEASC), INDICATING THAT THE SCHOOL MEETS OR EXCEEDS ESTABLISHED STANDARDS, AS DETERMINED BY A PERIODIC PEER GROUP REVIEW. AS AN ACCREDITED UNIVERSITY, BENTLEY IS JUDGED TO HAVE THE NECESSARY RESOURCES AND INSTITUTIONAL INTEGRITY TO ACHIEVE ITS STATED PURPOSE THROUGH ITS EDUCATIONAL PROGRAMS. CURRENTLY, BENTLEY OFFERS UNDERGRADUATE STUDENTS THE OPPORTUNITY TO MAJOR IN 20 DISCIPLINES IN BUSINESS AND ARTS AND SCIENCES; GRADUATE STUDENTS THE OPPORTUNITY TO MAJOR IN 11 DISCIPLINES INCLUDING AN INTEGRATED MS+MBA PROGRAM; AND PURSUE PHD PROGRAMS IN BUSINESS AND ACCOUNTANCY. PROGRAM SERVICES FORM 990, PART III, LINES 4A-4D LINE 4A INSTRUCTION: BENTLEY PLACES VITAL EMPHASIS ON THE QUALITY OF ITS TEACHER/SCHOLAR FACULTY. THE FACULTY IS COMMITTED TO ESTABLISHING EFFECTIVE TEACHING AND LEARNING RELATIONSHIPS WITH STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM WHILE PURSUING A SCHOLARLY AND RESEARCH AGENDA IN SUPPORT OF THE TEACHING MISSION. BENTLEY ENHANCES TEACHING EXCELLENCE ACROSS CAMPUS THROUGH A NUMBER OF INITIATIVES INCLUDING MENTORING ACTIVITIES, INTERNAL AND EXTERNAL DEVELOPMENT PROGRAMS, AND PROMOTING THE SCHOLARSHIP OF TEACHING AND LEARNING. TO ADVANCE THE FRONTIERS OF KNOWLEDGE, FOSTER CURRICULAR INNOVATION, ENHANCE TEACHING, AND INFORM AND IMPROVE BUSINESS PRACTICE, BENTLEY PROFESSORS PURSUE A RIGOROUS AGENDA OF SCHOLARSHIP AND APPLIED RESEARCH. MUCH OF THIS WORK IS TRANSDISCIPLINARY WITH FACULTY FROM THE BUSINESS DISCIPLINES AND THE ARTS AND SCIENCES COLLABORATING WITH ONE ANOTHER AS WELL AS WITH OUTSIDE SCHOLARS AND BUSINESS LEADERS. ACCORDINGLY, THE BENTLEY CLASSROOM BECOMES A LABORATORY FOR LEARNING WHEN HIGHLY RESPECTED SCHOLARS INTERACT WITH STIMULATED STUDENTS. LINE 4B AUXILIARY ENTERPRISES: THE MAIN PURPOSE OF THE UNIVERSITY'S AUXILIARY SERVICES IS TO PROVIDE ROOM AND BOARD CAPABILITIES TO THE STUDENTS WHO CHOOSE TO LIVE ON THE CAMPUS. ABOUT 80 PERCENT OF FULL-TIME BENTLEY UNDERGRADUATES LIVE ON CAMPUS - AND AMONG FRESHMEN, THAT FIGURE IS APPROXIMATELY 98 PERCENT. FRESHMAN LIVE IN TRADITIONAL DORMITORY RESIDENCE HALLS WITH DOUBLE, TRIPLE, OR QUAD OCCUPANCY. UNDERCLASSMEN OPTIONS INCLUDE SUITES AND ONE, TWO, AND THREE BEDROOM APARTMENTS WITH BATHROOMS AND KITCHENETTES. ALL STUDENTS BENEFIT FROM INDIVIDUAL ACCESS TO THE INTERNET AND THE UNIVERSITY NETWORK IN THEIR OWN ROOM. OTHER AMENITIES INCLUDE ON-SITE LAUNDRY FACILITIES, AIR CONDITIONING, VENDING MACHINES, AND IN SOME BUILDINGS, GAME ROOMS AND WORKOUT FACILITIES. A RESIDENT ASSISTANT LIVES ON EACH FLOOR TO ASSIST STUDENTS. AT BENTLEY, THERE'S PLENTY FOR STUDENTS TO CHOOSE FROM WHEN HUNGRY. DINING SERVICES OFFERS A RANGE OF DELICIOUS AND CONVENIENT DINING OPTIONS FROM SEASONS DINING ROOM, OUR MAIN DINING HALL ON CAMPUS, TO SANDELLA'S FLATBREAD CAF, A NATIONAL CHAIN. LINE 4C STUDENT SERVICES: BENTLEY IS DEDICATED TO CREATING A SAFE, CIVIL AND INCLUSIVE COMMUNITY. ITS STAFF STRIVES TO DEVELOP A COMFORTABLE LIVING ENVIRONMENT WHERE THE RULES AND NEEDS OF THE COMMUNITY ARE VITAL TO FOSTERING THE PERSONAL AND INTELLECTUAL GROWTH FOR ALL ITS RESIDENTIAL STUDENTS. SAFETY AND CIVILITY ARE ACHIEVED BY THE JUDICIOUS APPLICATION OF COLLEGE RULES AND POLICIES TO PROMOTE PERSONAL ACCOUNTABILITY AND RESPONSIBILITY. PERSONAL GROWTH AND INCLUSIVENESS ARE SUPPORTED THROUGH STUDENT-CENTERED PROGRAMMING EFFORTS, HIGHLIGHTING THE IMPORTANCE OF CELEBRATING DIFFERENCES, BUILDING HEALTHY RELATIONSHIPS AND CREATING LEADERSHIP OPPORTUNITIES. INTELLECTUAL GROWTH IS ALSO STIMULATED BY CREATING RESIDENTIAL ENVIRONMENTS THAT ALLOW STUDENTS TO PURSUE THE ACADEMIC ENDEAVORS WHICH ARE NECESSARY FOR THE SUCCESSFUL COMPLETION OF A BENTLEY EDUCATION. THE RESIDENTIAL COMMUNITY OFFERS THE DIVERSE ARRAY OF STUDENTS AT BENTLEY OPPORTUNITIES FOR PERSONAL GROWTH AND DEVELOPMENT TO COMPLEMENT THEIR ACADEMIC AND PROFESSIONAL ACHIEVEMENTS. THERE ARE MORE THAN 100 UNDERGRADUATE STUDENT ORGANIZATIONS THAT OFFER OPPORTUNITIES FOR COLLABORATION AND NETWORKING, CHANCES TO CREATE, PLAN AND EXECUTE PROGRAMMING AND EVENTS, CHALLENGE AND EXPAND CURRENT VIEWS BY MEETING NEW PEOPLE AND HEARING NEW IDEAS, AND TO GAIN LEADERSHIP EXPERIENCES. BY ACHIEVING THE GOALS STATED ABOVE, THE BENTLEY RESIDENTIAL CENTER SEEKS TO COMPLEMENT THE ACADEMIC MISSION OF THE UNIVERSITY AND PREPARE STUDENTS TO BECOME VALUABLE AND CONTRIBUTING MEMBERS OF THE GLOBAL COMMUNITY. LINE 4D OTHER SERVICE ACCOMPLISHMENTS: OTHER PROGRAM SERVICES INCLUDE PROVIDING SUPPORT FOR OPERATING THE LIBRARY, THE ACADEMIC TECHNOLOGY CENTER, ENTERPRISE INFRASTRUCTURE, CLIENT COMPUTER SERVICES AND OTHER SIMILAR ACADEMIC SERVICES. 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 MID APRIL FOR ITS REVIEW. UPON COMPLETION OF THAT REVIEW, THE COMPLETE FORM 990 WAS MADE AVAILABLE TO THE FULL BOARD IN EARLY MAY 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 ARMS' LENGTH, WITH TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF 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 15C THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE SALARY AND BENEFIT COMPENSATION FOR THE PRESIDENT AND ALL OFFICERS. THIS INCLUDES REVIEW OF OTHER NON-PROFIT ORGANIZATIONS FORM 990, GENERAL SALARY SURVEYS AND STUDIES, AND REQUIRES APPROVAL BY THE FULL BOARD. 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 ARE 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 FOLLOWING INFORMATION IS CONTAINED IN THE UNIVERSITY'S FINANCIAL STATEMENTS: MEMBERS OF THE UNIVERSITY 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 WRITTEN A 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 AND FOR THE BENEFIT OF 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 OF INTEREST OF THE UNIVERSITY. THE UNIVERSITY'S FORM 990 AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE WEBSITE OF THE MASSACHUSETT'S ATTORNEY GENERAL. OTHER CHANGES IN NET ASSETS OR FUND BALANCES 990, PART XI, LINE 5 UNREALIZED GAIN ON INVESTMENTS 4,129,000 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -15,962,000 CHANGE IN VALUE OF SPLIT INTEREST TRUST 679,000 CHANGE IN POST-RETIREMENT OBLIGATIONS -2,000 CHANGE IN PLEDGE VALUATIONS -1,943,000 ENDOWMENT RETURN UTILIZED IN OPERATIONS -7,333,000 --------------- TOTAL -20,432,000 SCH. K, PART V AFTER THE CLOSE OF THE FISCAL PERIOD, THE UNIVERSITY DEVELOPED POLICIES AND PROCEDURES TO IDENTIFY AND ADDRESS ANY VIOLATIONS OF FEDERAL TAX REQUIREMENTS PURSUANT TO A VOLUNTARY CLOSING AGREEMENT PROGRAM WHERE SELF-REMEDIATION MAY BE UNAVAILABLE. CHARITABLE REMAINDER TRUSTS (13) 175 FOREST STREET WALTHAM MA 02452 CRUT/CRAT MA NA TRUST 0 0 0.00000 false false false false false false false false false false false false false false false false false false