2013-05-15T09:07:25-05:00 2012-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2011-07-01 041679980 NORTHEASTERN UNIVERSITY % THOMAS NEDELL NORT 6173735947 360 HUNTINGTON AVENUE BOSTON MA 02115 THOMAS NEDELL 2013-05-14 true 6175305000 2011 2016-02-24 21:20:13Z Joseph E Aoun 360 Huntington Ave Boston MA 02115 1297697068 false X www.neu.edu X 1898 MA SEE SCHEDULE O. 24 18 14498 581 9202457 -3343340 122376000 165358991 899102938 958218544 43062096 27298808 13392039 13201710 1077933073 1164078053 213798136 230900624 0 0 411987558 448490035 447593 464252 15691658 321723934 356729385 947957221 1036584296 129975852 127493757 2021019000 2101287079 1034589000 1063558111 986430000 1037728968 X SEE SCHEDULE O. false false 326711000 839697544 Instruction NORTHEASTERN ENABLES 31,066 STUDENTS TO FULFILL THEIR EDUCATIONAL GOALS BY PROVIDING TEACHING AND ADVISING THAT RESULT IN THE GRANTING OF ASSOCIATE, BACHELOR, MASTER AND DOCTORAL DEGREES IN A VARIETY OF ACADEMIC DISCIPLINES. THE UNIVERSITYS ACADEMIC AREA CONSISTS OF THE BOUVE COLLEGE OF HEALTH SCIENCE, COLLEGE OF ARTS, MEDIA AND DESIGN, COLLEGE OF BUSINESS ADMINISTRATION, COLLEGE OF COMPUTER AND INFORMATION SCIENCE, COLLEGE OF ENGINEERING, COLLEGE OF PROFESSIONAL STUDIES, COLLEGE OF SCIENCE, COLLEGE OF SOCIAL SCIENCES AND HUMANITIES, AND SCHOOL OF LAW. 215820513 215820513 Student financial aid Northeastern awards grants and scholarships to students from several sources: federal and state governments, institutionally-funded and endowment/donor funded. The Office of Student Financial Services administers financial aid and is committed to working with students to identify financial aid options that can help make a Northeastern education affordable. 106368000 118521000 Auxiliary enterprises Northeastern provides student housing in 21 residential buildings and operates conference centers mainly use for University events. 305576780 15080111 954476293 true true false true false false false false false true true true false false true false false true true false true true false true true false false true true true true false false false false false true true false true true true true false false true true true true false false true 50732 0 true 14498 true true true false false false false true true false false false false X 24 18 true false false false false true true true true false false true true true true true true true true false MA X THOMAS NEDELL 6173735374 360 HUNTINGTON AVE BOSTON MA 02115 X JOSEPH E AOUN 40.0 X X 2914488 0 207376 PETER B CAMERON 1.0 X 0 0 0 CHAD GIFFORD 1.0 X WILLIAM J COTTER 1.0 X EDMOND J ENGLISH 2.0 X WILLIAM S HOWARD 2.0 X KATHERINE S MCHUGH 2.0 X HENRY J NASELLA 2.0 X KATHRYN M NICHOLSON 1.0 X RONALD L ROSSETTI 1.0 X CAROLE J SHAPAZIAN 2.0 X ROBERT J SHILLMAN 1.0 X SEYMOUR STERNBERG 5.0 X MICHAEL J ZAMKOW 2.0 X MARGOT BOTSFORD 1.0 X NONNIE S BURNES 1.0 X VENETIA G KONTOGOURIS 1.0 X BARBARA C ALLEYNE 1.0 X Richard A D'Amore 2.0 X Edward G Galante 2.0 X Anthony R Manganaro 1.0 X ALAN S MCKIM 1.0 X RONALD L SARGENT 1.0 X Joseph M Tucci 1.0 X JOHN H MCCARTHY 40.0 X 562099 0 33458 PHILOMENA V MANTELLA 40.0 X 539439 0 42116 SAMUEL B SOLOMON 40.0 X 169388 0 36078 DIANE N MACGILLIVRAY 40.0 X 403522 0 84476 MICHAEL A ARMINI 40.0 X 295984 0 42555 STEPHEN W DIRECTOR 40.0 X 616353 0 61740 RALPH C MARTIN II 40.0 X 412767 0 365 THOMAS NEDELL 40.0 X 376026 0 42501 NANCY MAY 40.0 X 189765 0 27093 DAVID LUZZI 40.0 X 372902 0 42421 HARRY LANE 40.0 X 342746 0 42082 ALLEN SOYSTER 40.0 X 231155 0 41048 GEORGES 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The University also pays membership dues to membership organizations which may engage in lobbying activities. Lobbying activities are focused on the interests of Northeastern University (including scientific research & student aid), its students and the higher education industry. During Fiscal Year 2012, payments for these services totaled $385,898. 611478000 34072000 -280000 22502000 2353000 1491000 618924000 532487000 11705000 93060000 23780000 601000 1393000 611478000 507346000 5376000 30370000 7808000 1767000 1030000 532487000 676987000 5271000 -156021000 17982000 909000 507346000 0.63600 0.34200 0.02200 true false 23567000 23567000 1213486379 334320643 879165736 323463474 213222000 110241474 1012974210 CASH AND CASH EQUIVALENTS 6094000 F PRIVATE EQUITY 127895000 F HEDGE FUNDS 173124000 F OTHER ALTERNATIVE INVESTMENTS 30337000 F OTHER INVESTMENTS 29723000 F 367173000 0 CAPITAL LEASE 31226000 INTEREST RATE SWAP AGREEMENTS 70050000 FEDERALLY FUNDED LOANS 28925000 130201000 SCHEDULE D, PART V, LINE 4 SPENDING POLICY INCOME FROM QUASI ENDOWMENT FUNDS ARE TO BE USED AS DESIGNATED BY THE BOARD OF TRUSTEES FOR OPERATIONS. TERM ENDOWMENTS ARE TO BE USED AS PER THE DONOR WISHES UPON TERMINATION OF THE CONTRACT. SPENDING POLICY INCOME FROM TRUE ENDOWMENT FUNDS ARE TO BE USED AS SET FORTH BY THE DONOR. CURRENTLY THESE FUNDS PRIMARILY SUPPORT SCHOLARSHIPS AND PROFESSORSHIPS. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 THE UNIVERSITY PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY IN THE LEGAL NOTICE SECTION OF LOCAL NEWSPAPERS AND IN ALL UNIVERSITY PUBLICATIONS AND ADVERTISEMENTS. GOVERNMENTAL AID OR ASSISTANCE SCHEDULE E, LINE 6A THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FOR ITS FINANCIAL AID PROGRAMS FROM VARIOUS PROGRAMS OF THE DEPARTMENT OF EDUCATION AND THE DEPARTMENT OF HEALTH AND HUMAN SERVICES. IN ADDITION, CERTAIN BONDS HAve BEEN ISSUED THROUGH THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. true Central America and the Caribbean Program Services Community Service Central America and the Caribbean Program Services Conference Central America and the Caribbean Program Services Recruiting Central America and the Caribbean Program Services Study Abroad East Asia and the Pacific Program Services Alumni Relations East Asia and the Pacific Program Services Conference East Asia and the Pacific Program Services Program Development East Asia and the Pacific Program Services Teaching Abroad East Asia and the Pacific Program Services Recruiting East Asia and the Pacific Program Services Research East Asia and the Pacific Program Services Sabbatical East Asia and the Pacific Program Services Student Advising East Asia and the Pacific Program Services Study Abroad Europe (Including Iceland and Greenland) Program Services Advancement Europe (Including Iceland and Greenland) Program Services Alumni Relations Europe (Including Iceland and Greenland) Program Services Conference Europe (Including Iceland and Greenland) Program Services Co-op Job Development Europe (Including Iceland and Greenland) Program Services Internship Europe (Including Iceland and Greenland) Program Services Program Development Europe (Including Iceland and Greenland) Program Services Recruiting Europe (Including Iceland and Greenland) Program Services Research Europe (Including Iceland and Greenland) Program Services Seminar Europe (Including Iceland and Greenland) Program Services Study Abroad Europe (Including Iceland and Greenland) Program Services Teaching Abroad Europe (Including Iceland and Greenland) Program Services Team Travel Middle East and North Africa Program Services Advancement Middle East and North Africa Program Services Alumni Relations Middle East and North Africa Program Services Recruiting Middle East and North Africa Program Services Research Middle East and North Africa Program Services Study Abroad North America Program Services Conference North America Program Services Program Development North America Program Services Recruiting North America Program Services Study Abroad North America Program Services Team Travel South America Program Services Conference South America Program Services Program Development South America Program Services Recruiting South America Program Services Research South America Program Services Study Abroad South Asia Program Services Conference South Asia Program Services Program Development Sub-Saharan Africa Program Services Co-op Job Development Sub-Saharan Africa Program Services Program Development Sub-Saharan Africa Program Services Research Sub-Saharan Africa Program Services Study Abroad Central America and the Caribbean Investments 71311200 East Asia and the Pacific Investments 804338 Europe (Including Iceland and Greenland) Investments 71861152 143976690 143976690 Middle East/North Africa Sub-award 6000 CHECK East Asia/Pacific Sub-award 92749 CHECK Europe/Iceland/Greenland Sub-award 8730 CHECK Europe/Iceland/Greenland Sub-award 9945 CHECK Europe/Iceland/Greenland SUB-AWARD 70000 CHECK North America SUB-AWARD 24009 CHECK 6 true false true true true false SCHEDULE F, PART I, LINE 2 NORTHEASTERN UNIVERSITY (NU) HAS A FULL TIME EMPLOYEE TO MONITOR SUBAWARDS AND NU FOLLOWS FEDERAL REGULATIONS AS PART OF THE SUBRECIPIENT MONITORING UNDER A-133. NU REVIEWS THE FEDERAL AUDIT CLEARINGHOUSE AND INSTITUTION'S A-133 REPORTS. DESK REVIEWS ARE PERFORMED AND PRINCIPAL INVESTIGATORS APPROVE ALL INVOICES. SCHEDULE F, PART I, LINE 3, COLUMN (F) NORTHEASTERN UNIVERSITY DOES NOT CURRENTLY TRACK FOREIGN EXPENDITURES SEPARATELY. THEREFORE, PURSUANT TO IRS GUIDANCE, DISCLOSURE IN THIS COLUMN IS NOT REQUIRED IN THE CURRENT YEAR. 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501C3 5797 SUB-AWARD 72 12 STUDENT FINANCIAL AID 15836 215820513 COST TUITION OFFSET SCHEDULE I, PART I, LINE 2 GRANT FUNDING IS AWARDED TO STUDENTS BY STUDENT FINANCIAL SERVICES WITHIN ESTABLISHED BUDGET LEVELS BASED ON UNIVERSITY POLICIES. GRANT FUNDS ARE CREDITED TO INDIVIDUAL STUDENT ACCOUNTS ELECTRONICALLY. STUDENT FINANCIAL SERVICES WORKS WITH ADVANCEMENT STAFF TO ENSURE THAT RESTRICTED FUNDS ARE AWARDED WITHIN ESTABLISHED CRITERIA, AND WITH FINANCE STAFF TO DETERMINE AVAILABILITY OF FUNDS. STUDENT FINANCIAL SERVICES MAINTAINS INTERNAL POLICIES AND PROCEDURES FOR THE CORRECT AWARDING AND ADJUSTING OF INSTITUTIONAL FUNDS. ANNUAL AUDITS ARE CONDUCTED TO ASSURE COMPLIANCE WITH ALL POLICIES AND PROCEDURES. NORTHEASTERN UNIVERSITY (NU) HAS A FULL TIME EMPLOYEE TO MONITOR SUBAWARDS. - NU FOLLOWS FEDERAL REGULATIONS AS PART OF THE SUBRECIPIENT MONITORING UNDER A-133. - NU REVIEWS THE FEDERAL AUDIT CLEARINGHOUSE AND INSTITUTION'S A-133 REPORTS. - DESK REVIEWS ARE PERFORMED, AND PRINCIPAL INVESTIGATOR'S APPROVE ALL INVOICES. X X X X true true X X X X X true true false false false false false true true true JOSEPH E AOUN 674498 0 185000 0 2054990 0 94180 0 113196 0 3121864 0 0 0 JOHN H MCCARTHY 423667 0 55000 0 83432 0 24500 0 8958 0 595557 0 -40000 0 PHILOMENA V MANTELLA 358319 0 35000 0 146120 0 40125 0 1991 0 581555 0 -83334 0 SAMUEL B SOLOMON 161788 0 7500 0 100 0 17800 0 18278 0 205466 0 0 0 DIANE N MACGILLIVRAY 353455 0 35000 0 15067 0 66167 0 18309 0 487998 0 0 0 MICHAEL A ARMINI 265669 0 25000 0 5315 0 24500 0 18055 0 338539 0 0 0 STEPHEN W DIRECTOR 464331 0 55000 0 97022 0 24500 0 37240 0 678093 0 0 0 RALPH C MARTIN II 368585 0 0 0 44182 0 0 0 365 0 413132 0 0 0 THOMAS NEDELL 348156 0 15000 0 12870 0 24500 0 18001 0 418527 0 0 0 NANCY MAY 179665 0 10000 0 100 0 19350 0 7743 0 216858 0 0 0 DAVID LUZZI 318795 0 15000 0 39107 0 24500 0 17921 0 415323 0 0 0 THOMAS MOORE 157641 0 30000 0 0 0 18737 0 3394 0 209772 0 0 0 MARC H MEYER 236304 0 0 0 262657 0 24500 0 15675 0 539136 0 0 0 ALEXANDROS MAKRIYANNIS 331894 0 0 0 151766 0 24500 0 1596 0 509756 0 0 0 Albert-Laszlo Barabasi 284592 0 0 0 129230 0 24500 0 17837 0 456159 0 0 0 RICHARD M FREELAND 30000 0 0 0 209690 0 0 0 0 0 239690 0 0 0 ROBERT P WEIR 141105 0 0 0 120875 0 24500 0 15024 0 301504 0 0 0 VINCENT J LEMBO 246901 0 0 0 638 0 24500 0 19414 0 291453 0 0 0 ROBERT P GITTENS 200804 0 0 0 0 0 20612 0 15480 0 236896 0 0 0 EDWARD E KLOTZBIER 153660 0 0 0 119100 0 24137 0 18259 0 315156 0 0 0 KATHERINE N PENDERGAST 197865 0 10000 0 100 0 20722 0 2670 0 231357 0 0 0 JACK MOYNIHAN 217939 0 4000 0 100 0 22840 0 15573 0 260452 0 0 0 HARRY LANE 311085 0 0 0 31661 0 24500 0 17582 0 384828 0 0 0 ALLEN SOYSTER 231155 0 0 0 0 0 23700 0 17348 0 272203 0 0 0 GEORGES VAN DEN ABEELE 255526 0 0 0 21051 0 24500 0 6076 0 307153 0 0 0 JANE BROWN 263484 0 10000 0 3431 0 24500 0 15133 0 316548 0 0 0 WILLIAM COEN 402037 0 0 0 115910 0 24500 0 7089 0 549536 0 0 0 AHMED BUSNAINA 250404 0 0 0 223200 0 24500 0 15738 0 513842 0 0 0 STEPHEN ZOLOTH 287084 0 10000 0 5477 0 24500 0 17832 0 344893 0 0 0 SCHEDULE J, PART I, LINE 1 THE UNIVERSITY WILL APPROVE BUSINESS CLASS AIR TRAVEL (OR FIRST CLASS IF BUSINESS CLASS IS NOT AVAILABLE) BY THE PRESIDENT AS APPROPRIATE. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. THE PRESIDENT'S SPOUSE TRAVELS ON OCCASION WITH THE PRESIDENT WHEN NECESSARY FOR BUSINESS PURPOSES AND UPON APPROVAL OF THE CHAIRMAN OF THE BOARD. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. HOUSING IS PROVIDED FOR THE PRESIDENT AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER AND IS NOT INCLUDED IN TAXABLE WAGES. A HOUSING ALLOWANCE IS PROVIDED TO THE PROVOST AND IS INCLUDED IN TAXABLE WAGES. SOCIAL CLUB DUES ARE PROVIDED FOR THE PRESIDENT UPON APPROVAL OF THE COMPENSATION COMMITTEE OF THE BOARD. USE OF THE SOCIAL CLUB IS FOR BUSINESS PURPOSES ONLY AND DUES ARE NOT INCLUDED IN TAXABLE WAGES. SCHEDULE J, PART I, LINE 4A ROBERT P WEIR RECEIVED PAYMENT OF $120,875 IN 2011. EDWARD E KLOTZBIER RECEIVED PAYMENT OF $119,000 IN 2011. SCHEDULE J, PART I, LINE 4B UNDER PRESIDENT JOSEPH AOUN'S LEADERSHIP, NORTHEASTERN UNIVERSITY HAS ACHIEVED LEVELS OF EXCELLENCE THAT WERE UNIMAGINABLE WHEN HE WAS APPOINTED IN 2006. IN THE PERIOD SINCE THEN, FRESHMAN APPLICATIONS ALMOST DOUBLED TO A RECORD 47,300; AVERAGE SAT SCORES OF INCOMING STUDENTS JUMPED 160 POINTS FROM 1230 TO 1390; THE UNIVERSITY HAS MORE THAN DOUBLED ITS ANNUAL RESEARCH FUNDING FROM $48.7 TO $104.8 MILLION; THE UNIVERSITY HIRED MORE THAN 360 NEW TENURED AND TENURE TRACK FACULTY; THE UNIVERSITY RANKED 1ST IN THE US IN CAREER PLACEMENT (Princeton Review); THE UNIVERSITY JUMPED AN UNPRECEDENTED 42 PLACES FROM 98 TO 56 IN THE ANNUAL US NEWS & WORLD REPORT RANKINGS; THE UNIVERSITY RAISED OVER $320 MILLION (MORE THAN IN THE 12 YEARS PRIOR TO PRESIDENT AOUN'S ARRIVAL); AND THE UNIVERSITY'S SIGNATURE CO-OP AND EXPERIENTIAL LEARNING PROGRAMS HAVE BEEN GLOBALIZED WITH STUDENTS NOW PARTICIPATING IN 92 COUNTRIES. IN RECOGNITION OF PRESIDENT AOUN'S EXTRAORDINARY ACHIEVEMENTS, AND TO ENSURE HIS CONTINUED SERVICE AS PRESIDENT, THE BOARD OF TRUSTEES UNANIMOUSLY AGREED TO PROVIDE HIM WITH A $2.0 MILLION RETIREMENT BENEFIT THAT HE WILL RECEIVE IN FULL WHEN HE CONCLUDES HIS SERVICE AT NORTHEASTERN. THIS ELEMENT OF PRESIDENT AOUN'S COMPENSATION PACKAGE HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (B) (III) AS "OTHER REPORTABLE COMPENSATION". CERTAIN INDIVIDUALS PARTICIPATED IN LONG TERM INCENTIVE PLANS UNDER WHICH A DEFERRED PAYMENT IS AWARDED CONTINGENT ON CONTINUED EMPLOYMENT FOR THREE YEARS AND/OR ACHIEVEMENT OF CERTAIN CRITICAL UNIVERSITY GOALS. INDIVIDUALS WHO RECEIVED PAYMENTS UNDER LONG TERM INCENTIVE PLANS ARE LISTED BELOW. A PORTION OF EACH PAYMENT REFLECTED BELOW WAS REPORTED ON PRIOR YEARS' FORMS 990, SCHEDULE J, PART II COLUMN C AS DEFERRED COMPENSATION. JOHN H MCCARTHY $60,000 PHILOMENA V MANTELLA $125,000 Schedule J, Part I, Line 7 Payments which are part of a Variable pay plan are included in the SECTION ON BONUS AND INCENTIVE COMPENSATION. THIS PLAN IS BASED ON ACHIEVEMENT OF PRE-ESTABLISHED GOALS. IT IS APPROVED BY THE BOARD OF TRUSTEES FOR THE PRESIDENT AND OTHER OFFICERS. Schedule J, Part I, Line 8 THE PROVOST'S CONTRACT IS A 5 YEAR CONTRACT, EFFECTIVE JULY 1, 2008 THROUGH JUNE 30, 2013. Schedule J, Part II AS OF 7/1/2009, THE BY-LAWS OF NORTHEASTERN UNIVERSITY WERE AMENDED SUCH THAT THE VICE PRESIDENTS ARE NO LONGER CONSIDERED OFFICERS OF THE UNIVERSITY. THEREFORE, THEY ARE DISCLOSED, AS APPLICABLE, AS FORMER OFFICERS. Schedule J, Part II, COLUMN Bi & Biii AS PART OF HIS RETIREMENT AGREEMENT, NORTHEASTERN MAKES PAYMENTS TO RICHARD M. FREELAND, FORMER PRESIDENT, UNTIL HIS DEATH. MR. FREELAND WAS COMPENSATED $209,690 IN 2011. MR. FREELAND ALSO RECEIVED A PAYMENT OF $30,000 FOR TEACHING A COURSE AS AN ADJUNCT FACULTY MEMBER. MHEFA SERIES R 042456011 57586C2Z7 2008-05-22 92267988 REFUND SERIES N BONDS false false false MHEFA SERIES S 042456011 57586C3B9 2008-05-22 58747141 REFUND SERIES O BONDS false false false MHEFA SERIES T 042456011 57586CZ57 2008-05-22 210795125 REFUND SERIES P BONDS false false false MHEFA SERIES Y 042456011 57586EFE6 2009-02-05 64431595 NEW PROJECT/REFUND SERIES F,H,K, false false false 7036694 0 92267998 0 0 0 396997 0 3771000 0 88100000 0 true false true true 772141 0 58747141 0 0 0 197141 0 4050000 0 54500000 0 true false true true 104570 0 225893991 0 8470410 0 1078308 0 0 0 209716817 0 2010 true false true true 12722099 0 66093741 0 1517334 0 536194 0 0 38000000 25895401 0 2010 true false true true 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 false true true true false 0.04220 0.04220 true false true true true false 0.02780 0.00090 0.02870 true false false false 0 false false false 0 false true false false false 0 false false false 0 false true false true false 0 false false false 0 false true false false false 0 false false false 0 false true X MHEFA SERIES 2010A 042456011 57586ETH4 2010-03-18 266921019 REFUND SERIES I,Q,U,W false false false 16581688 0 266921019 0 0 0 1281074 0 34652829 0 230987116 0 true false true true 0 false false false 0 false false false 0 false true SEE SCHEDULE O 0 Stephen W Director Home Loan X 2000000 1880000 false true true 1880000 Peter Lembo BROTHER OF NU FMR OFFICER 85609 NU Employee false Ruffalo Cody TRUSTEE RICHARD D'AMORE 464252 Professional Fundraising Fees false Sally Solomon SISTER OF NU OFFICER 60273 NU Employee false CLEAN HARBORS TRUSTEES GALANTE & MCKIM 136436 CLEANING SERVICES false Blue Cross Blue Shield OFFICER RALPH MARTIN 48495252 Health Insurance false Staples TRUSTEE RONALD SARGENT 766712 Provision of Goods false Geoffrey Trussell TRUSTEE CHAD GIFFORD 191118 NU EMPLOYEE false X 3 0 X 0 X 38 991947 MARKET VALUE X EQUIPMENT 12 1852811 MARKET VALUE 4 false true true SCHEDULE M, PART I, COLUMN (B) NORTHEASTERN UNIVERSITY REPORTED THE NUMBER OF CONTRIBUTIONS. SCHEDULE M, PART I, LINE 32 NORTHEASTERN UNIVERSITY HIRES A BANK TO SELL ITS DONATED SECURITIES. SCHEDULE M, PART I, LINE 33 NORTHEASTERN UNIVERSITY'S ACCOUNTING POLICY STATES THAT NO REVENUE IS TO BE RECOGNIZED FOR GIFTS IN KIND UNLESS THERE IS AN IDENTIFIABLE USEFUL LIFE OR DETERMINABLE MARKET VALUE. ALL GIFTS IN KIND ARE REVIEWED TO DETERMINE IF THEY MEET EITHER CRITERIA. Mission Statement Form 990, Parts I and III, line 1 To educate students for a life of fulfillment and accomplishment. To create and translate knowledge to meet global and societal needs. This mission statement will inspire members of the University in whatever they do-as scholars, as teachers, as mentors, and as members of the Northeastern community. Northeastern's commitment to excellence, distinctiveness, and innovation led to the identification of five strategic themes that characterize the University's uniqueness: Experiential Learning, Interdisciplinary and Translational Research, Intellectual Life and Creative Expression, Urban Engagement, Global Opportunities. By concentrating efforts on these initiatives the University is better positioned to set priorities, make decisions, and focus resources that allow the institution to achieve its ambitions. Form 990, Part III, Line 4d Other program services consist of: Research, academic support, student services, and cooperative education. Form 990, Part VI, Line 1a Northeastern University's governing body delEgates broad authority to an executive committee, which may exercise the powerS of the board of trustees between the meetings of that body. All members of the Board of Trustees who are not appointed to serve on the Executive Committee shall be authorized to serve as alternates to the Executive Committee with full voting authority. The Secretary shall be authorized to select an alternatE whenever a member notifies the Secretary of his or her inability to attend any regular or special meeting of the Executive Committe. A majority of the members of the Executive Committee, including any alternate(s), shall constitute a quorum for any meeting of the Executive Committee. Form 990, Part VI, Line 2 Edward G. Galante Alan S. McKim Business Relationship Form 990, Part VI, Lines 7a & 7b Members of the Corporation have the responsibility of electing members of the Corporation and the Board of Trustees. Form 990, Part VI, Line 11B The University's Form 990 review process is a collaborative effort. The core Form 990 and related schedules were reviewed by four committees of the Board of Trustees, senior management, an independent compensation consultant and a paid tax preparer. All feedback from the above parties was incorporated in the form. The Form 990 as filed is provided to the full board prior to filing with the IRS. Form 990, Part VI, Line 12c The Conflict of Interest Policy For Trustees, Overseers, Officers and Other Institutional Decision-Makers applies to all voting, lifetime and honorary members of the Board of Trustees; certain members of the Corporation; all officers; and all other Institutional Decision-Makers of Northeastern University. The policy requires that all Trustees, Officers and other Governing Board Members who serve on standing committees are required to adhere to a policy which requires disclosure in advance of any conflict; non-participation in decisions regarding the potential conflict; and an annual reporting of any conflicts for personal or third party involvement. The Secretary to the Board reviews the disclosures to determine whether any disclosures are sufficiently material that they should be brought to the attention of a sub-committee of the Trusteeship Committee. The sub-committee of the Trusteeship Committee shall determine whether any disclosed matter is of such significance that it merits reporting to the Board of Trustees or the Executive Committee. If so, the sub-committee shall recommend whether the disclosure requires approval or other action by the Board of Trustees or the Executive Committee. It shall be sole prerogative of the Board of Trustees or Executive Committee to approve or take other action related to a conflicts disclosure, including determining whether or not a transaction related to a disclosure should be permitted (if the transaction has not been finalized) or continued (if the transaction has already begun). Persons covered by this policy are required to refrain from making any decision about, and from participating in any consideration of, any transaction or other matter within the letter or spirit of this policy, except that he or she may respond to requests for information by the President or any disinterested Trustee concerning the matter. The Conflict of Interest and Commitment Policy in the Faculty Handbook applies to all members of Northeastern's faculty and research staff including faculty members serving as University officers (collectively referred to as 'the Faculty.') Annually, Faculty are required to submit a Conflict of Interest and Commitment Disclosure statement that requires disclosure of any relationships that would present the appearance of a conflict. These disclosure forms are reviewed by the Director of Institutional Audit, Compliance & Risk Services to determine whether any disclosures are sufficiently material that they should be brought to the attention of the appropriate College Dean for review. The policy provides College Deans with the primary responsibility for ensuring implementation of this policy and authority to review and approve exceptions to the policy. All employees are required to submit a Conflict of Interest and Commitment Disclosure statement that requires disclosure of any significant financial interest relationship as defined and disclosure of any gift over $100 from a single third party seeking benefit from the University. These disclosure forms are reviewed by the Director of Institutional Audit, Compliance & Risk Services to determine whether any disclosures are sufficiently material that they should be brought to the attention of the appropriate unit Dean, Vice-President or Director for review. The unit Dean, Vice-President or Director are responsible for reviewing the identified conflict and for resolving those conflicts appropriately. Form 990, Part VI, Section B, Line 15a & 15b NORTHEASTERN UNIVERSITY FOLLOWS A CAREFULLY DEFINED PROCESS FOR REVIEWING SENIOR EXECUTIVE COMPENSATION LEVELS. THE POSITIONS INCLUDED IN THIS PROCESS ARE THE PRESIDENT, SENIOR VICE PRESIDENT FOR ACADEMIC AFFAIRS AND PROVOST, SENIOR VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT, SENIOR VICE PRESIDENT FOR ENROLLMENT MANAGEMENT AND STUDENT LIFE, SENIOR VICE PRESIDENT FOR ADMINISTRATION & FINANCE, VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, SENIOR VICE PRESIDENT FOR EXTERNAL AFFAIRS, THE DIRECTOR OF FINANCE & TREASURER, AND SENIOR VICE PRESIDENT & GENERAL COUNSEL. OTHER POSITIONS INCLUDING, BUT NOT LIMITED TO, DEANS MAY BE INCLUDED EACH YEAR. THIS PROCESS EMBRACES THE BEST PRACTICES UTILIZED IN THE HIGHER EDUCATION INDUSTRY. IN 2011, A COMPETITIVE PAY ASSESSMENT WAS CONDUCTED BY A THIRD PARTY INDEPENDENT COMPENSATION CONSULTING FIRM, USING MULTIPLE MARKET REFERENCES, INCLUDING SURVEYS REPRESENTING SIMILAR UNIVERSITIES AND OTHER RELEVANT LABOR MARKETS (AS APPLICABLE FOR CERTAIN POSITIONS). THE ASSESSMENT IS BASED ON PEER REFERENCES THAT REFLECT OTHER UNIVERSITIES OF SIMILAR SIZE AND PROMINENCE WITH WHICH NORTHEASTERN COMPETES FOR EXECUTIVE TALENT. THE INDEPENDENT CONSULTANT ALSO PROVIDED ADDITIONAL PROPRIETARY COMPENSATION MARKET DATA AND AN ASSESSMENT OF THE REASONABLENESS OF THE DATA. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD OF TRUSTEES, ALSO SERVING AS THE CHAIR, ALONG WITH FIVE OTHER INDEPENDENT TRUSTEE MEMBERS. THIS COMMITTEE HAS CONTINUED TO ENGAGE TOWERS WATSON AS ITS INDEPENDENT COMPENSATION CONSULTANT, WITH THE EXPECTATION THAT ITS PROCESSES AND PROCEDURES WOULD CONTINUE TO EVOLVE TO REFLECT EMERGING BEST PRACTICES. THE COMPETITIVE PAY ASSESSMENT AND INDEPENDENT CONSULTANT REVIEW WERE PROVIDED TO THE PRESIDENT FOR HIS USE IN MAKING SALARY AND BONUS RECOMMENDATIONS TO THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FOR THE POSITIONS INCLUDED IN THE PROCESS, EXCLUDING HIS OWN. THE PRESIDENT'S RECOMMENDATIONS TO THE COMPENSATION COMMITTEE TAKE INTO CONSIDERATION THE MARKET INFORMATION, AS WELL AS THE RESULTS OF A FORMAL ANNUAL PERFORMANCE ASSESSMENT PROCESS BASED ON PRE-DETERMINED GOALS AND OBJECTIVES. THE COMPENSATION COMMITTEE REVIEWED THE COMPETITIVE INFORMATION AND THE RESULTS OF THE PERFORMANCE ASSESSMENT PROCESS PRESENTED BY THE PRESIDENT, DISCUSSED POTENTIAL CHANGES, AND VOTED TO APPROVE THE FINAL RECOMMENDATIONS, WHICH WERE THEN PRESENTED TO THE FULL BOARD OF TRUSTEES. THE BOARD ALSO VOTED TO APPROVE THE RECOMMENDATIONS. THESE DISCUSSIONS AND RESULTING APPROVALS ARE DOCUMENTED IN THE MINUTES OF EACH MEETING. IN DETERMINING THE PRESIDENT'S COMPENSATION, THE INDEPENDENT CONSULTANT PROVIDED THE RESULTS OF THE MARKET PAY ASSESSMENT FOR THE PRESIDENT DIRECTLY TO THE COMMITTEE. THE COMMITTEE ALSO CONDUCTED A FORMAL PERFORMANCE ASSESSMENT OF THE PRESIDENT, UTILIZING PRE-DETERMINED GOALS AND OBJECTIVES. THE COMMITTEE THEN DISCUSSED POTENTIAL CHANGES TO THE PRESIDENT'S COMPENSATION BASED ON THE MARKET DATA AND THE RESULTS OF THE PERFORMANCE ASSESSMENT, AND PRESENTED ITS RECOMMENDATIONS TO THE FULL BOARD OF TRUSTEES FOR THEIR APPROVAL. THE BOARD VOTED TO APPROVE THE RECOMMENDATIONS. THESE DISCUSSIONS AND RESULTING APROVALS ARE DOCUMENTED IN THE MINUTES OF EACH MEETING. THE OFFICERS INCLUDED IN THIS PROCESS DURING 2011 WERE: JOSEPH E AOUN, PRESIDENT STEPHEN W DIRECTOR, SENIOR VICE PRESIDENT FOR ACADEMIC AFFAIRS AND PROVOST DIANE N MACGILLIVRAY, SENIOR VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT PHILOMENA V MANTELLA, SENIOR VICE PRESIDENT FOR ENROLLMENT MANAGEMENT AND STUDENT LIFE JOHN H MCCARTHY, SENIOR VICE PRESIDENT FOR ADMINISTRATION & FINANCE THOMAS NEDELL, VICE PRESIDENT AND CHIEF FINANCIAL OFFICER MICHAEL ARMINI, SENIOR VICE PRESIDENT FOR EXTERNAL AFFAIRS SAMUEL B SOLOMON, DIRECTOR OF FINANCE & TREASURER RALPH C MARTIN II, SENIOR VICE PRESIDENT & GENERAL COUNSEL Form 990, Part VI, Section C, Line 19 Original hard copy Financial Statements and Governing documents are available upon request. The Conflict of interest policy and the annual financial statements are available via the internet at www.NEU.EDU. Form 990, Part VII, Column (B) 40 hours constitutes a full-time equivalent employee at Northeastern University. Form 990, Part XI, Line 5 Unrealized LOSS ($20,848,528) LOSS on Swaps ($45,157,000) Change in Annuity & life income funds ($726,000) LOSS ON EXTINGUISHMENT OF DEBT ($267,000) RECLASS OF INVESTMENT MGMT EXPENSES $32,061 RELCASS OF TRUST PAYMENTS $43,684 RECLASS OF ANNUITY PAYMENTS $704,381 DE-CONSOLIDATED SUB ($9,955,665) Rounding Variance ($20,722) ____________ ($76,194,789) SCHEDULE K, PART VI PART I, LINE C, COLUMN (E) IN APRIL 2012, SERIES T-2 BONDS FOR $70,000,000 WERE CONVERTED TO FULLY REGISTERED FIXED RATE BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $66,315,000 WITH A FINAL MATURITY DATE IN OCTOBER 2037. THE BALANCE OF THE INITIAL AGGREGATE PRINCIPAL AMOUNT OF THE SERIES T-2 BONDS IN THE AMOUNT OF $3,685,000 WAS CANCELLED IN APRIL 2012. BOND ISSUANCE COSTS OF $395,335 ARE RECORDED IN PREPAID EXPENSES AND OTHER ASSETS AND WILL BE AMORTIZED OVER THE LIFE OF THE RESPECTIVE BONDS. THE SERIES T-2 BONDS WERE REMARKETED WITH A PREMIUM TOTALING $4,080,335 WHICH IS RECORDED IN LONG-TERM DEBT. THE PREMIUM WILL BE AMORTIZED USING THE EFFECTIVE INTEREST METHOD OVER THE LIFE OF THE RESPECTIVE BONDS. IN FEBRUARY 2012, SERIES T-1 BONDS FOR $70,000,000 WERE CONVERTED TO FULLY REGISTERED FIXED RATE BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $63,260,000 WITH A FINAL MATURITY DATE IN OCTOBER 2037. THE BALANCE OF THE INITIAL AGGREGATE PRINCIPAL AMOUNT OF THE SERIES T-1 BONDS IN THE AMOUNT OF $6,740,000 WAS CANCELLED IN FEBRUARY 2012. BOND ISSUANCE COSTS OF $399,790 ARE RECORDED IN PREPAID EXPENSES AND OTHER ASSETS AND WILL BE AMORTIZED OVER THE LIFE OF THE RESPECTIVE BONDS. THE SERIES T-1 BONDS WERE REMARKETED WITH A PREMIUM TOTALING $7,139,790 WHICH IS RECORDED IN LONG-TERM DEBT. THE PREMIUM WILL BE AMORTIZED USING THE EFFECTIVE INTEREST METHOD OVER THE LIFE OF THE RESPECTIVE BONDS. PART I, LINE A, COLUMN (F) MHEFA SERIES R REFUNDED SERIES N BONDS WHICH WERE ISSUED JANUARY 23, 2003. PART I, LINE B, COLUMN (F) MHEFA SERIES S REFUNDED SERIES O BONDS WHICH WERE ISSUED FEBRUARY 10, 2005. PART I, LINE C, COLUMN (F) MHEFA SERIES T REFUNDED SERIES P BONDS WHICH WERE ISSUED JULY 18, 2007. PART I, LINE D, COLUMN (F) MHEFA SERIES Y (I) FINANCED THE CONSTRUCTION OF A DORMITORY, RENOVATIONS TO VARIOUS ACADEMIC AND ATHLETIC FACILITIES, AND MISCELLANEOUS FURNITURE AND EQUIPMENT ACQUISITIONS, AND (II) REFUNDED SERIES F, H, AND K BONDS WHICH WERE ISSUED JULY 6, 1999, JULY 9, 1998, AND JULY 11, 2000, RESPECTIVELY. PART I, LINE A, COLUMN (F) MHEFA SERIES 2010(A) REFUNDED SERIES I, Q, U, AND W. * SERIES I BONDS WERE ISSUED MAY 26, 1999 TO FINANCE VARIOUS CAPITAL PROJECTS. * SERIES Q BONDS WERE ISSUED MAY 28, 2008 FOR THE PURPOSE OF REFUNDING THE SERIES L BONDS WHICH WERE ISSUED JANUARY 25, 2001 TO FINANCE VARIOUS CAPITAL PROJECTS. * SERIES U BONDS WERE ISSUED JULY 31, 2008 FOR THE PURPOSE OF REFUNDING THE SERIES M BONDS WHICH WERE ISSUED JULY 3, 2002. SERIES M BONDS WERE ISSUED FOR THE PURPOSE OF REFUNDING THE SERIES E BONDS WHICH WERE ISSUED APRIL 1992. * SERIES W BONDS WERE ISSUED DECEMBER 17, 2008 FOR THE PURPOSE OF REFUNDING THE SERIES G BONDS WHICH WERE ISSUED APRIL 1998 TO FINANCE VARIOUS CAPITAL PROJECTS. PART II, LINE 3 - TOTAL PROCEEDS OF ISSUE MHEFA SERIES T - PROCEEDS REPORTED ON LINE 3 INCLUDES $8,470,410 OF CAPITALIZED INTEREST AND $6,628,457 OF INVESTMENT EARNINGS. ACTUAL PROCEEDS OF ISSUE IS $210,000,000. MHEFA SERIES Y - PROCEEDS REPORTED ON LINE 3 INCLUDES $1,517,334 OF CAPITALIZED INTEREST AND $144,812 OF INVESTMENT EARNINGS. ACTUAL PROCEEDS OF ISSUE IS $64,431,595. PART II, LINE 9 - WORKING CAPITAL WORKING CAPITAL CONSISTS OF BOND PROCEEDS USED TO FINANCE TERMINATION PAYMENTS DUE TO SWAP COUNTERPARTIES. PART IV, LINE 3 - HEDGE THE UNIVERSITY HAS ENTERED INTO AN INTEREST RATE SWAP AGREEMENT WITH AIG FOR BOND ISSUE MHEFA SERIES T TO MANAGE THE INTEREST COST AND VARIABLE RATE RISK ASSOCIATED WITH ITS OUTSTANDING DEBT. THE INTEREST RATE SWAP AGREEMENT WAS NOT IDENTIFIED ON THE BOOKS AND RECORDS OF THE ISSUER OR THE INSTITUTION AND WERE NOT IDENTIFIED TO BE TREATED AS A "QUALIFYING HEDGE" WITH RESPECT TO THE SERIES T BONDS. THE INTEREST RATE SWAP AGREEMENT WAS NOT ENTERED INTO FOR TRADING OR SPECULATIVE PURPOSES. UNDER THE TERMS OF THE AGREEMENT, THE UNIVERSITY PAYS A FIXED RATE, DETERMINED AT INCEPTION, TO A THIRD PARTY WHO IN TURN PAYS THE UNIVERSITY A VARIABLE RATE ON THESE RESPECTIVE NOTIONAL PRINCIPAL AMOUNTS. THERE IS NO COLLATERAL POSTING REQUIREMENT FOR THE UNIVERSITY RELATED TO THE SWAP WITH AIG. Renaissance Park Garage LLC 1209 Orange St Wilmington DE 19801 043480384 Parking svcs DE 2009214 18578941 NORTHEASTERN NU Research LLC 360 Huntington Ave Boston MA 02115 170388661 Research Ctr MA 0 259 NORTHEASTERN NU Innovation LLC 360 Huntington Ave Boston MA 02115 270388561 Research Ctr MA 0 259 NORTHEASTERN NU Housing Corporation c/o NU 716 Columbus Ave Boston MA 02120 260874402 Real Estate MA 501(c)(3) 9 NORTHEASTERN true The Mass Green High Perf Computing Ctr 77 Mass Ave Cambridge MA 02139 273014805 Research Ctr MA 501(c)(3) 11A-I NA false MGHPCC Holyoke Inc 77 Mass Ave CAMBRIDGE MA 02139 452257442 RESEARCH CTR MA 501(c)(3) 11A-I NA false Azland Inc c/o NU 360 Huntington Avenue Boston MA 02115 042454917 real estate DE na c corp 26564 221099 1.00000 Charitable Remainder Trust (1) INVESTING CA NA TRUST Charitable Remainder Trust (1) Investing LA NA TRUST Charitable Remainder Trusts (5) INVESTING MA NA TRUST Charitable Remainder Trust (1) INVESTING NH NA TRUST POOLED INCOME FUND INVESTING MA NA TRUST false false false false false false false false false false false false false false false true false true NU Housing Corporation p 2716 FMV NU Housing Corporation R 750000 FMV