2026-05-11T16:44:12-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 042121659 WORCESTER POLYTECHNIC INSTITUTE WORC 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 MICHAEL HORAN EXECUTIVE VP & CFO 5088315000 2026-05-06 1 1 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z JINLIU WANG 100 INSTITUTE ROAD WORCESTER MA 01609 536998693 0 X WWW.WPI.EDU X 1865 MA WORCESTER POLYTECHNIC INSTITUTE WAS FOUNDED IN 1865 TO CREATE AND CONVEY (CONTINUED ON SCHEDULE O) THE LATEST SCIENCE AND ENGINEERING KNOWLEDGE IN WAYS THAT ARE MOST BENEFICIAL FOR SOCIETY.FORM 990, PART V, LINE 1A:THE 7,781 REPORTED ON THIS LINE INCLUDES THE FOLLOWING:1098-T'S: 7,0111099 NEC: 3971099 MISC: 3681099-K'S: 5 28 26 4536 522 9348758 0 25282069 25187739 454614577 490295589 11127022 12697778 -253769 1247888 490769899 529428994 154356495 169125759 0 0 205768366 209761386 226064 61533 9437272 144967990 160338639 505318915 539287317 -14549016 -9858323 1348178551 1434918284 497992535 533541683 850186016 901376601 WPI TRANSFORMS LIVES, TURNS KNOWLEDGE INTO ACTION TO CONFRONT GLOBAL CHALLENGES, AND REVOLUTIONIZES STEM THROUGH DISTINCTIVE AND INCLUSIVE EDUCATION, PROJECTS AND RESEARCH. (HTTP://WWW.WPI.EDU/ABOUT/MISSION.HTML) 0 0 377933360 155149656 434365675 THE UNIVERSITY PROVIDES EDUCATION IN THE FIELDS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS TO APPROXIMATELY 5,500 UNDERGRADUATE AND 2,025 GRADUATE STUDENTS. IN ADDITION, HOUSING AND BOARD AUXILIARY SERVICES ARE PROVIDED FOR APPROXIMATELY 2,410 STUDENTS. DURING FISCAL YEAR 2025, THE UNIVERSITY AWARDED 1,298 BACHELOR, 867 MASTER AND 87 PHD DEGREES. STUDENTS EMERGE FROM THE UNIVERSITY'S UNIQUE EXPERIENCE READY TO TAKE ON SOME OF THE MOST DIFFICULT CHALLENGES IN SCIENCE AND TECHNOLOGY. MORE IMPORTANTLY, THEY UNDERSTAND HOW THEIR WORK CAN TRULY IMPACT SOCIETY AND IMPROVE LIVES. 69921140 13976103 55929914 AT THE UNIVERSITY, 244 FACULTY AND POST DOC RESEARCHERS, AND 632 STUDENTS ARE ENGAGED IN CUTTING-EDGE RESEARCH ACROSS A BROAD RANGE OF DISCIPLINES. THE UNIVERSITY RECEIVES RESEARCH FUNDING FROM A VARIETY OF SOURCES, PRIMARILY FROM GOVERNMENTAL ORGANIZATIONS SUCH AS THE NATIONAL SCIENCE FOUNDATION, DEPARTMENT OF DEFENSE, NATIONAL INSTITUTE OF HEALTH AND OTHER FEDERAL AGENCIES. RESEARCH AT THE UNIVERSITY HAS A DECIDEDLY APPLIED FOCUS, WITH WORK FOCUSED ON PROBLEMS THAT ARE BOTH INTERESTING AND IMPORTANT. THE RESULT IS NEW KNOWLEDGE, NEW INNOVATIONS, AND TECHNOLOGICAL ADVANCES THAT ATTACK SOME OF THE MAJOR CHALLENGES OF OUR TIME. 447854500 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 1 0 0 1 X 7781 0 1 4536 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X MICHAEL HORAN 5088315000 100 INSTITUTE ROAD WORCESTER MA 01609 JINLIU WANG PRESIDENT 40.00 0.00 X X 995961 0 126856 WILLIAM FITZGERALD CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 JOYCE KLINE VICE CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 STEPHEN RUSCKOWSKI VICE CHAIR & TRUSTEE 2.00 0.00 X X 0 0 0 MICHAEL ASPINWALL TRUSTEE 2.00 0.00 X 0 0 0 LORRAINE BOLSINGER TRUSTEE 2.00 0.00 X 0 0 0 LINWOOD BRADFORD TRUSTEE 2.00 0.00 X 0 0 0 MARNI HALL TRUSTEE 2.00 0.00 X 0 0 0 ROBERT HART TRUSTEE 2.00 0.00 X 0 0 0 STUART KAZIN TRUSTEE 2.00 0.00 X 0 0 0 DAVID LAPRE TRUSTEE 2.00 0.00 X 0 0 0 CARLEEN MAITLAND TRUSTEE 2.00 0.00 X 0 0 0 ERICA MASON TRUSTEE 2.00 0.00 X 0 0 0 MAUREEN MCCAFFREY TRUSTEE 2.00 0.00 X 0 0 0 NEIL MCDONOUGH TRUSTEE 2.00 0.00 X 0 0 0 PATRICIA NEWCOMER-SMALL TRUSTEE 2.00 0.00 X 0 0 0 GEORGE OLIVER TRUSTEE 2.00 0.00 X 0 0 0 NATALIA PAVLOVA TRUSTEE (AS OF 11/2024) 2.00 0.00 X 0 0 0 ELIZABETH PHALEN TRUSTEE 2.00 0.00 X 0 0 0 JAMES F POLEWACZYK TRUSTEE (AS OF 11/2024) 2.00 0.00 X 0 0 0 MARK RUSSELL TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH SCHWEINSBERG TRUSTEE 2.00 0.00 X 0 0 0 NAVJOT SINGH TRUSTEE 2.00 0.00 X 0 0 0 CHARTSIRI SOPHONPANICH TRUSTEE (AS OF 05/2025) 2.00 0.00 X 0 0 0 JOAN BOLDUC SZKUTAK TRUSTEE 2.00 0.00 X 0 0 0 GREG TUCKER TRUSTEE (AS OF 05/2025) 2.00 0.00 X 0 0 0 MYLES WALTON TRUSTEE 2.00 0.00 X 0 0 0 JENNIFER WYSE TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL HORAN TREASURER, EXECUTIVE VP & CFO 40.00 0.00 X 589073 0 55294 DAVID BUNIS SEC. & GEN COUNSEL (THRU 01/2025) 40.00 0.00 X 552517 0 36619 KYLE SIEGEL AVP, CHIEF OF STAFF & DEP. SECR. 40.00 0.00 X 228255 0 39671 ELIZABETH CLAPP ASSOC TREAS. & CONTROLL (THRU 12/24) 40.00 0.00 X 193879 0 58409 MEGAN BELMORE CONTROLLER & ASST TREAS (AS OF 4/25) 40.00 0.00 X 0 0 0 PHILIP CLAY VP STUDENT AFFAIRS 40.00 0.00 X 456071 0 45285 ARTHUR HEINRICHER INTERIM PROVOST (THRU 07/2024) 40.00 0.00 X 309939 0 42502 ANDREW SEARS PROVOST (AS OF 08/2024) 40.00 0.00 X 222478 0 28069 LAUREN TURNER SVP TALENT & INCLUSION, CDO 40.00 0.00 X 551271 0 60667 DONNA STOCK VP UNIV ADV (THRU 02/2025) 40.00 0.00 X 461131 0 43498 VIJAY MENTA PRES. INFO. TECH. & CIO 40.00 0.00 X 353745 0 43841 JEAN KING DEAN OF ARTS & SCIENCES 40.00 0.00 X 364864 0 59379 BOGDAN VERNESCU VP & VICE PROV. RESEARCH & INNOV. 40.00 0.00 X 378752 0 47366 5657936 0 687456 521 0 1 0 DANIEL O'CONNELL'S SONS INC 800 KELLY WAY HOLYOKE MA 01040 CONSTRUCTION 16736752 SHAWMUT DESIGN & CONSTRUCTION 560 HARRISON AVENUE BOSTON MA 02118 CONSTRUCTION 2233769 STANTEC ARCHITECTURE & ENGINEERING PC 13 COLLECTIONS CTR DR CHICAGO IL 60693 ARCHITECTURAL 654402 GREENERU INC 307 WAVERLY OAKS ROAD STE 202 WALTHAM MA 02452 BLDG. IMPROVEMENTS 482736 DELSIGNATORE ELECTRICAL CONTRACTORS INC 849 WEST BOYLSTON ST WORCESTER MA 01606 MAINTENANCE/ELECTRICAL 443428 60 1985000 23202739 8020023 25187739 TUITION AND FEES 611710 369491327 369491327 SPONSORED RESEARCH 611710 55929915 55929915 AUXILIARY OPERATIONS 611710 55334572 45987719 9346853 OTHER OPER. SOURCES 611710 6345602 6345602 OTHER EDUC. OPERATIONS 611710 3194173 3194173 490295589 12703587 1905 12701682 1108240 1108240 7563890 7569699 -5809 -5809 -5809 GAIN INT RATE AGREEMNT 900099 139648 139648 139648 529428994 480948736 9348758 13943761 12221429 12221429 155149656 155149656 1754674 1754674 4137635 863219 2536501 737915 163767451 126964930 31479910 5322611 11423406 8800619 2293357 329430 20412638 12385542 6951179 1075917 10020256 7719630 2011661 288965 1541645 452655 1080580 8410 417850 100041 317020 789 184989 184989 61533 61533 1331988 1331988 21046647 19123346 1839743 83558 2597299 2336220 241608 19471 3491469 1962209 1359307 169953 10638038 1531594 8875702 230742 11729164 9767521 1780384 181259 8751768 8257416 376128 118224 3070204 2554780 451157 64267 18227785 12944174 5031425 252186 38277845 31150593 6622570 504682 1921405 306445 1614911 49 RESEARCH AND TRAINING 15212622 16072484 -683929 -175933 REPAIRS AND MAINTENANCE 8285950 6348919 1853284 83747 LAB EQUIPMENT/SUPPLIES 4406083 4197742 201835 6506 BOOKS AND PERIODICALS 2717765 26766 2690999 0 6488123 4861896 1553236 72991 539287317 447854500 81995545 9437272 2350802 3672438 37859979 30052751 4798335 4374405 15992928 14447368 8550475 8657607 1036280115 472378549 539074487 563901566 133144281 145914772 590830476 647375333 15576788 16522044 1348178551 1434918284 36947269 28072878 12478224 18380610 274237779 269595302 258378 46523008 98228303 93190925 75842582 77778960 497992535 533541683 X 364826323 389598990 485359693 511777611 850186016 901376601 1348178551 1434918284 X -9858323 61656345 -159755 -447682 X 0 1 X 1 1 1 X 32507077 25922762 23070174 25282069 25187739 131969821 32507077 25922762 23070174 25282069 25187739 131969821 9754346 122215475 4350643 6808581 11182633 10337945 13809922 46489724 38254 2102514 541061 0 2681829 181141374 2146724400 0.67470 0.73010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 184989 184989 539102328 539287317 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 185294 183264 180000 184989 733547 250000 250000 250000 250000 1000000 1500000 SCHEDULE C, PART II-A, LINE 1B: LOBBYING EXPENDITURES ARE FOR THE PURPOSE OF IDENTIFYING FUNDING OPPORTUNITIES AT THE FEDERAL AND STATE LEVEL TO SUPPORT EDUCATIONAL AND RESEARCH PROGRAMS AND TO DEVELOP STRATEGIC RESEARCH PARTNERSHIPS WITH GOVERNMENT ORGANIZATIONS. X X 0 679999247 10366707 69755352 11926533 16772234 731422539 628765308 6853717 71642219 11197461 16064536 679999247 587107058 7970966 59079208 10282412 15109512 628765308 630915527 12869512 -31950308 9825960 14901713 587107058 484367049 10106274 160615648 9447238 14726206 630915527 0.37900 0.29700 0.32400 0 0 25003966 25003966 820516072 332785391 487730681 20894641 14342014 6552627 166313136 125251144 41061992 3552300 3552300 563901566 EQUITY FUNDS 410203984 F FIXED INCOME FUNDS 114411761 F PRIVATE EQUITY FUNDS 75529091 F REAL ASSETS 38236048 F PRIVATE CREDIT 8994449 F 647375333 OPERATING LEASE LIABILITIES 63382186 SPLIT INTEREST RATE AGREEMENTS 5678026 FUNDS HELD FOR OTHERS 4723526 INTEREST RATE AGREEMENTS 1580034 REFUNDABLE GOVERNMENT LOAN FUNDS 1221444 ASSET RETIREMENT OBLIGATIONS 1193744 77778960 X PART III, LINE 1A: DUE TO THE IMMATERIALITY OF THE UNIVERSITY'S COLLECTIONS OF ART OR HISTORICAL TREASURES, THESE ASSETS ARE NOT DISCLOSED IN THE FINANCIAL STATEMENTS. PART III, LINE 4: THE UNIVERSITY HOLDS A CHARLES DICKENS COLLECTION, A BERNARD BRENNER SCULPTURE COLLECTION, A RARE BOOK AND MANUSCRIPT COLLECTION, AS WELL AS OTHER WORKS OF ART. THESE PIECES ARE USED BY THE FACULTY TO FURTHER THEIR RESEARCH AND CURRICULUM. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE PROGRAMS OF THE UNIVERSITY, INCLUDING SCHOLARSHIPS, FACULTY TEACHING AND RESEARCH, LIBRARY RESOURCES, AND MAINTENANCE. THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT AND SIMILAR FUNDS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE UNIVERSITY RELIES ON A TOTAL RETURN APPROACH IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED GAINS) AND CURRENT YIELD. TO ACHIEVE ITS LONG-TERM OBJECTIVES WITHIN PRUDENT RISK PARAMETERS, THE UNIVERSITY TARGETS A DIVERSIFIED ASSET ALLOCATION. THE UNIVERSITY OBSERVES A SPENDING RULE WITH RESPECT TO TOTAL RETURN (INTEREST, DIVIDENDS, AND APPRECIATION) ON INVESTMENTS OF THE ENDOWMENTS AND SIMILAR FUNDS. UNDER THE SPENDING RULE, THE UNIVERSITY APPROPRIATED 4.6% OF ITS ENDOWMENT AND SIMILAR FUNDS' AVERAGE UNIT FAIR VALUE FOR THE PREVIOUS TWELVE QUARTERS, ONE YEAR REMOVED, FOR THE YEAR ENDED JUNE 30, 2025. PART X, LINE 2: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE UNIVERSITY HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE, UPON THE UNIVERSITY'S CONSOLIDATED STATEMENT OF FINANCIAL POSITION OR THE RELATED CONSOLIDATED STATEMENTS OF ACTIVITIES OR CASH FLOWS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY MAKES ITS ANTI-DISCRIMINATION POLICY KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A NOTICE OF NON-DISCRIMINATION ON ITS WEBSITE, AND IN ALL BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. (CONTINUED BELOW LINE 6) SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN THE FORM OF 34A TITLE IV AID. LINE 3 - NONDISCRIMINATION POLICY CONTINUED: IT IS THE POLICY OF THE UNIVERSITY TO PROVIDE EACH QUALIFIED INDIVIDUAL - REGARDLESS OF RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS - THE OPPORTUNITY TO PARTICIPATE IN THE UNIVERSITY'S EDUCATIONAL AND EMPLOYMENT PROGRAMS AND ACTIVITIES, INCLUDING ADMISSIONS, IN A DISCRIMINATION AND HARASSMENT-FREE ENVIRONMENT, IN ACCORDANCE WITH STATE AND FEDERAL LAWS, INCLUDING TITLE VI AND TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, SECTION 504 OF THE REHABILITATION ACT OF 1973, TITLE IX OF THE EDUCATION AMENDMENTS OF 1972, AND THE AGE DISCRIMINATION ACT OF 1975, AND THEIR RESPECTIVE IMPLEMENTING REGULATIONS. FURTHERMORE, THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE UNLAWFUL DISCRIMINATION OR HARASSMENT. UNLAWFUL DISCRIMINATION OR HARASSMENT CONSISTS OF TREATING A PERSON DIFFERENTLY IN ANY UNIVERISTY PROGRAM OR ACTIVITY BASED ON THEIR RACE, SEX, AGE, COLOR, NATIONAL ORIGIN, RELIGION, GENETIC IDENTITY, DISABILITY, GENDER IDENTITY OR EXPRESSION, MARITAL OR PARENTAL STATUS, SEXUAL ORIENTATION, TRANSGENDER STATUS, VETERAN STATUS, OR ANY OTHER LEGALLY PROTECTED STATUS. THIS INCLUDES, FOR EXAMPLE, THE DISPLAY OR CIRCULATION OF WRITTEN OR ELECTRONIC MATERIALS OR PICTURES DEGRADING TO A PERSON'S GENDER OR TO RACIAL, ETHNIC, OR RELIGIOUS GROUPS; AND VERBAL ABUSE OR INSULTS DIRECTED AT OR MADE IN THE PRESENCE OF MEMBERS OF A RACIAL, ETHNIC, OR MINORITY GROUP. THE UNIVERSITY WILL ADMINISTER ANY COMPLAINT OF DISCRIMINATION OR HARASSMENT WITH THE UTMOST DEGREE OF PRIVACY AND CONFIDENTIALITY POSSIBLE UNDER THE CIRCUMSTANCES OF EACH MATTER AND AS PERMITTED BY LAW. FAILURE OF ANY PARTICIPANT TO RESPECT CONFIDENTIALITY, BOTH DURING OR AFTER AN INVESTIGATION PROCESS, MAY CONSTITUTE RETALIATION AND SUBJECT THE VIOLATOR TO DISCIPLINE. THE UNIVERSITY PROHIBITS AND WILL NOT TOLERATE ANY FORM OF RETALIATION AGAINST PERSONS WHO HAVE COMPLAINED ABOUT, OR PARTICIPATED IN AN INVESTIGATION OF A COMPLAINT ABOUT, UNLAWFUL DISCRIMINATION OR HARASSMENT. THE UNIVERSITY WILL MAKE AN INDEPENDENT INQUIRY INTO COMPLAINTS OF UNLAWFUL DISCRIMINATION AND HARASSMENT, ACCORDING TO APPLICABLE UNIVERSITY POLICIES AND PROCEDURES, AND VIOLATIONS BY STUDENTS/EMPLOYEES WILL BE SUBJECT TO DISCIPLINARY ACTION, INCLUDING SUSPENSION, EXPULSION, OR TERMINATION, WHERE APPROPRIATE. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 2 PROGRAM SERVICES SEE PART V 272681 EAST ASIA AND THE PACIFIC 0 5 PROGRAM SERVICES SEE PART V 1239163 EUROPE (INCLUDING ICELAND & GREENLAND) 0 9 PROGRAM SERVICES SEE PART V 1943346 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES SEE PART V 141099 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES SEE PART V 156861 SOUTH AMERICA 0 2 PROGRAM SERVICES SEE PART V 142750 SOUTH ASIA 0 0 PROGRAM SERVICES SEE PART V 560746 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES SEE PART V 349478 CENTRAL AMERICA AND THE CARIBBEAN 0 2 INVESTMENTS 75415900 EUROPE (INCLUDING ICELAND & GREENLAND) 0 9 INVESTMENTS 13692288 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 778224 SOUTH AMERICA 0 0 GRANTMAKING 283780 NORTH AMERICA 0 0 GRANTMAKING 290579 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 394961 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 7130 0 18 0 11 0 29 4806124 90862862 95668986 SOUTH AMERICA RESEARCH 109472 0 SOUTH AMERICA OTHER 174308 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 291078 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 183243 0 NORTH AMERICA RESEARCH 219510 0 NORTH AMERICA RESEARCH 35717 0 NORTH AMERICA RESEARCH 35352 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 303903 0 EAST ASIA AND THE PACIFIC RESEARCH 394961 0 8 1 PROJECT SUPPORT SUB-SAHARAN AFRICA 6371 CHECK 759 SUPPLIES FMV 1 0 1 1 1 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANTS TO ORGANIZATIONS: THE UNIVERSITY ACTIVELY MONITORS ALL FEDERALLY SPONSORED RESEARCH GRANTS THROUGH THE OFFICE OF SPONSORED PROGRAMS (OSP), THE OFFICE OF RESEARCH INTEGRITY AND COMPLIANCE (ORIC), AND ITS SPONSORED PROGRAMS ACCOUNTING OFFICE (SPA). OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND NON-FINANCIAL POST-AWARD ACTIVITIES. ORIC IS RESPONSIBLE FOR MONITORING COMPLIANCE SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, RESEARCH ETHICS AND MISCONDUCT AND RESEARCH EXPORT CONTROL AND LICENSING. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS, REVENUE AND RECEIVABLES, AND PREPARATION AND SUBMISSION OF FINANCIAL REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS: THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDENTS. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. PART I, LINE 3: FOREIGN EXPENDITURES ARE SEPARATELY IDENTIFIED IN THE INSTITUTE'S BOOKS AND RECORDS. X X X X X 1 BENTZ WHALEY FLESSNER ASSOC 7251 OHMS LANE MINNEAPOLIS MN 55439 CAMPAIGN 0 0 61533 -61533 61533 -61533 MA 1 ACOUSTIC MEDSYSTEMS INC 208 BURWASH AVE SAVOY IL 61874 371365835 0 99320 RESEARCH AM BATTERIES INC 8 FEDERAL STREET UNIT B BILLERICA MA 01821 872500260 0 2272500 RESEARCH AMERICAN INSTITUTE OF CHEMICAL ENGINEERS - AICHE 3 PARK AVE NEW YORK NY 10016 131623892 501(C)(3) 0 64275 RESEARCH APPLIED MATERIALS INC 9700 US HWY 290 EAST AUSTIN TX 78724 941655526 0 138925 RESEARCH ASL ED CENTER 133 CALAMINT HILL ROAD N PRINCETON MA 01541 854329043 0 8401 RESEARCH ASSISTMENTS FOUNDATION INC 100 INSTITUTE RD WORCESTER MA 01609 834228740 501(C)(3) 0 785539 RESEARCH BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY 426 AUDITORIUM ROAD ROOM 360 EAST LANSING MI 48824 386005984 501(C)(3) 0 255497 RESEARCH BOSTON COLLEGE 140 COMMONWEALTH AVE CHSTNUT HILL MA 02467 042103545 501(C)(3) 0 19885 RESEARCH BOSTON MEDICAL CENTER CORPORATION ONE BOSTON MEDICAL PLACE BOSTON MA 02118 043314093 501(C)(3) 0 399216 RESEARCH BUCKNELL UNIVERSITY ONE DENT DRIVE LEWISBURG PA 17837 240772407 501(C)(3) 0 16228 RESEARCH CAL POLY CORPORATION 1 GRAND AVE BUILDING 15 SAN LUIS OBISPO CA 93407 951648180 501(C)(3) 0 26533 RESEARCH CAMBRIDGE HEALTH ALLIANCE 350 MAIN STREET SUITE 31 MALDEN MA 02148 043320571 115 0 68727 RESEARCH CITRINE INFORMATICS INC 2629 BROADWAY STREET REDWOOD CITY CA 94063 464188524 0 210759 RESEARCH CITY OF WORCESTER 455 MAIN STREET WORCESTER MA 01608 046001418 115 0 815606 PUBLIC LIBRARY SUPPORT CLEMSON UNIVERSITY PO BOX 931616 ATLANTA GA 31193 576000254 501(C)(3) 0 21856 RESEARCH DREXEL UNIVERSITY 3201 ARCH STREET SUITE 420 PHILADELPHIA PA 19104 231352630 501(C)(3) 0 160751 RESEARCH ENERGY RESEARCH COMPANY 400 LELAND AVE PLAINFIELD NJ 07062 223329891 0 270135 RESEARCH FARASIS ENERGY USA INC 21363 CABOT BLVD HAYWARD CA 94545 833748440 0 53868 RESEARCH GAS TECHNOLOGY INSTITUTE 1700 SOUTH MOUNT PROSPECT ROAD DES PLAINES IL 60018 362170137 501(C)(3) 0 190936 RESEARCH GDB INTERNATIONAL INC ONE HOME NEWS ROW NEW BRUNSWICK NJ 08901 223435423 0 481902 RESEARCH GE MEDICAL SYSTEMS ULTRASOUND & PRIMARY CARE DIAGNOSTICS LLC 1 RESEARCH CIRCLE BUILDING K-1 5D7 NISKAYUNA NY 12309 391046671 0 36314 RESEARCH GENERAL ELECTRIC COMPANY 5 NECCO ST BOSTON MA 02210 140689340 0 93844 RESEARCH MASSACHUSETTS GENERAL HOSPITAL 149 13TH STREET CHARLESTOWN MA 02114 041564655 501(C)(3) 0 518830 RESEARCH MICHIGAN TECHNOLOGICAL UNIVERSITY 1400 TOWNSEND DRIVE HOUGHTON MI 49931 386005955 115 0 131851 RESEARCH MISSISSIPPI STATE UNIVERSITY 301 RESEARCH BLVD STARKVILLE MS 39759 646000819 501(C)(3) 0 166467 RESEARCH NEW MEXICO CONSORTIUM INC 4200 WEST JEMEZ ROAD SUITE 301 LOS ALAMOS NM 87544 260370262 501(C)(3) 0 6958 RESEARCH NIGHTSHADE INDUSTRIES CORPORATION 101 IASUEN COURT LOS GATOS CA 95032 990452149 0 161546 RESEARCH NORTH CAROLINA STATE UNIVERSITY CAMPUS BOX 7205 RALEIGH NC 27695 566000756 115 0 36907 RESEARCH NORTHWESTERN UNIVERSITY 737 N MICHIGAN AVENUE SUITE 1600 CHICAGO IL 60611 362167817 501(C)(3) 0 20615 RESEARCH PURDUE UNIVERSITY 2200 169TH STREET HAMMOND IN 46323 356002041 115 0 187486 RESEARCH QUINSIGAMOND COMMUNITY COLLEGE 670 WEST BOYLSTON ST WORCESTER MA 01606 042492727 115 0 9028 OTHER SAN JOSE STATE UNIVERSITY RESEARCH FOUNDATION 210 N FOURTH STREET 4TH FLOOR SAN JOSE CA 95112 946017638 501(C)(3) 0 143651 RESEARCH SIEMENS CORPORATION 300 NEW JERSEY AVE SUITE 1000 WASHINGTON DC 20001 132623356 0 82284 RESEARCH SOLVUS GLOBAL LLC 104 PRESCOTT STREET WORCESTER MA 01605 842524070 0 233361 RESEARCH SOUTHERN METHODIST UNIVERSITY 6425 BOAZ LANE DALLAS TX 75205 750800689 501(C)(3) 0 47412 RESEARCH SPAULDING REHABILITATION HOSPITAL - 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OSP IS RESPONSIBLE FOR MONITORING PRE-AWARD ACTIVITIES AND NON-FINANCIAL POST-AWARD ACTIVITIES. ORIC IS RESPONSIBLE FOR MONITORING COMPLIANCE SUCH AS HUMAN SUBJECT PARTICIPATION GUIDELINES, RESEARCH ETHICS AND MISCONDUCT AND RESEARCH EXPORT CONTROL AND LICENSING. SPA MONITORS ALL POST-AWARD FINANCIAL ACTIVITY, INCLUDING ALLOWABILITY OF COSTS, REVENUE AND RECEIVABLES, AND PREPARATION AND SUBMISSION OF FINANCIAL REPORTS ON GRANTS. PROCEDURE FOR MONITORING USE OF GRANTS TO INDIVIDUALS: THE UNIVERSITY REQUIRES ALL STUDENTS SEEKING NEED-BASED FINANCIAL AID AND SCHOLARSHIPS TO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) FORM. A CSS PROFILE IS ALSO REQUIRED FOR INCOMING STUDENTS. THE UNIVERSITY'S FINANCIAL AID STAFF ARE TRAINED IN THE REQUIREMENTS OF AWARDING TITLE IV FUNDS TO STUDENTS AND ARE REQUIRED TO ADHERE TO THESE REQUIREMENTS. THE UNIVERSITY ALSO UNDERGOES AN INDEPENDENT UNIFORM GUIDANCE SINGLE AUDIT TO ENSURE COMPLIANCE WITH THESE REQUIREMENTS. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 JINLIU WANG PRESIDENT 792271 0 165000 0 38690 0 62775 0 64081 0 1122817 0 0 0 MICHAEL HORAN TREASURER, EXECUTIVE VP & CFO 402135 0 160395 0 26543 0 32775 0 22519 0 644367 0 0 0 LAUREN TURNER SVP TALENT & INCLUSION, CDO 375331 0 150960 0 24980 0 32775 0 27892 0 611938 0 0 0 DAVID BUNIS SEC. & GEN COUNSEL (THRU 01/2025) 426590 0 120230 0 5697 0 32775 0 3844 0 589136 0 11855 0 DONNA STOCK VP UNIV ADV (THRU 02/2025) 329051 0 107100 0 24980 0 32775 0 10723 0 504629 0 0 0 PHILIP CLAY VP STUDENT AFFAIRS 377848 0 53243 0 24980 0 32775 0 12510 0 501356 0 5243 0 BOGDAN VERNESCU VP & VICE PROV. RESEARCH & INNOV. 346335 0 28607 0 3810 0 32775 0 14591 0 426118 0 0 0 JEAN KING DEAN OF ARTS & SCIENCES 361987 0 0 0 2877 0 32775 0 26604 0 424243 0 0 0 VIJAY MENTA PRES. INFO. TECH. & CIO 326565 0 25200 0 1980 0 30127 0 13714 0 397586 0 0 0 ARTHUR HEINRICHER INTERIM PROVOST (THRU 07/2024) 307545 0 0 0 2394 0 29599 0 12903 0 352441 0 0 0 KYLE SIEGEL AVP, CHIEF OF STAFF & DEP. SECR. 173111 0 54844 0 300 0 17147 0 22524 0 267926 0 0 0 ELIZABETH CLAPP ASSOC TREAS. & CONTROLL (THRU 12/24) 193579 0 0 0 300 0 18873 0 39536 0 252288 0 0 0 ANDREW SEARS PROVOST (AS OF 08/2024) 212465 0 0 0 10013 0 18802 0 9267 0 250547 0 0 0 PART I, LINE 1A THE UNIVERSITY HAS PROVIDED THESE BENEFITS PER WRITTEN POLICIES AFTER FULL SUBSTANTIATION OF THE ITEMS. THE FOLLOWING AMOUNTS ARE NOT INCLUDED IN COMPENSATION TAXABLE TO THE EMPLOYEE: THE UNIVERSITY PROVIDED HOUSING ON CAMPUS TO THE PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, INCLUDING HOUSEKEEPING TO MAINTAIN THE APPEARANCE OF THE RESIDENCE FOR UNIVERSITY FUNCTIONS. PART I, LINE 4B THE INSTITUTE HAS A LONG TERM INCENTIVE PLAN (LTIP) TO PROVIDE DEFERRED BONUSES TO CERTAIN LISTED INDIVIDUALS. AMOUNTS PAID UNDER THE LTIP IN 2024 ARE INCLUDED ON SCHEDULE J, COLUMN (B)(II). ADDITIONAL DETAILS REGARDING THE PLAN ARE INCLUDED IN RESPONSE SCHEDULE J, PART I, LINE 7. NO AMOUNTS WERE CONTRIBUTED TO THE PLAN IN CALENDAR YEAR 2024. ONE INDIVIDUAL IS SUBJECT TO A DEFERRED BONUS ARRANGEMENT. AMOUNTS ACCRUED UNDER THE ARRANGEMENT ARE INCLUDED IN SCHEDULE J, PART II, COLUMN C. PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES HAS A PAY-FOR-PERFORMANCE COMPENSATION PHILOSOPHY IN DETERMINING EXECUTIVE COMPENSATION. A PLAN THAT IS PART OF THE PHILOSOPHY IS THE EXECUTIVE INCENTIVE COMPENSATION PLAN. EXECUTIVES ARE ELIGIBLE FOR PERFORMANCE-BASED PAY. THE PAYMENT OF A PERFORMANCE BONUS IS DEPENDENT UPON ACHIEVEMENT OF DEFINED GOALS AND OBJECTIVES, APPROVED BY THE PRESIDENT AND COMPENSATION COMMITTEE. THE PRESIDENT MAY RECEIVE A PERFORMANCE-BASED INCENTIVE SUBJECT TO THE TERMS AND PROVISIONS LISTED IN THE CONTRACT. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RTX3 2008-04-09 48995000 REFUNDING OF SERIES 2003&2005 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2014-08-28 4622000 RENOVATIONS OF EXISTING FACILITIES 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584XPK1 2016-06-21 49030491 REFUNDING OF SERIES 2007 BONDS 1 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584X2E0 2017-10-03 16911534 REFUNDING OF SERIES 2007 BONDS 1 0 0 A 22180000 48995000 325962 19038 48650000 2008 1 0 1 1 B 1963000 4622000 61330 4560670 2016 0 0 1 1 C 15570000 49030491 471314 48559177 2016 0 1 1 1 D 3310000 16911534 288239 16623295 2017 1 0 1 1 A 0 1 1 1 1 1 0.16820 0.16820 0 0 1 B 0 0 0 0 0 0 1 C 0 1 1 1 0 0.00330 0.00330 0 0 1 A 0 0 0 1 1 1 DEUTSCHE & BARCLAYS 19.000000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, COLUMN F: BOND ISSUE A (SERIES 2008A) WAS USED TO REFUND THE SERIES 2003A DATED JULY 20, 2003 AND 2005A DATED AUGUST 3, 2005. BOND ISSUE C (SERIES 2016) WAS USED TO REFUND SERIES 2007 WHICH WAS ISSUED JUNE 28, 2007. BOND ISSUE D (SERIES 2017A) WAS USED TO REFUND A PORTION OF SERIES 2007, WHICH WAS ISSUED IN JUNE 28, 2007, THAT WAS ALLOCATED TO REFUND SERIES 1997-I, WHICH WAS ISSUED ON MARCH 20, 1997. BOND ISSUE A (SERIES 2017B) WAS USED TO REFUND SERIES 2010 WHICH WAS ISSUED JANUARY 27, 2010. BOND ISSUE B (SERIES 2019) WAS USED TO FUND VARIOUS CAPITAL PROJECTS. BOND ISSUE C (SERIES 2022) WAS USED TO REFUND SERIES 2012 WHICH WAS ISSUED OCTOBER 30, 2012. BOND ISSUE D (SERIES 2024) WAS ISSUED TO ACQUIRE PROPERTY AND FUND CAPITAL PROJECTS. SCHEDULE K, PART II, COLUMN A & B: ON MAY 31, 2024 THE UNIVERSITY DEFEASED $7,820,000 OF SERIES 2017B AND $21,375,000 OF SERIES 2019. SPECIFIC INFORMATION ON THE DEFEASANCE, INCLUDING CUSIPS AND PAR AMOUNTS DEFEASED, ARE FILED ON THE EMMA SYSTEM. SCHEDULE K, PART II, COLUMN C & D: ON MAY 31, 2024, THE UNIVERSITY DEFEASED $5,325,000 OF SERIES 2016 AND $700,000 OF SERIES 2019. SPECIFIC INFORMATION ON THE DEFEASANCE, INCLUDING CUSIPS AND PAR AMOUNTS DEFEASED, ARE FILED ON THE EMMA SYSTEM. SCHEDULE K PART II, LINE 11 COLUMNS A,C,D: THE OTHER SPENT PROCEEDS ARE REFUNDING PROCEEDS OF THE ISSUE NO LONGER IN ESCROW. SCHEDULE K, PART III, LINE 3: FOR BOND ISSUE A (SERIES 2017B), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $1,345,180. FOR BOND ISSUE B (SERIES 2019), TOTAL PROCEEDS OF ISSUE INCLUDE INVESTMENT EARNINGS OF $982,697. SCHEDULE K, PART III, LINE 6, COLUMN A: THE UNIVERSITY ACTIVELY MONITORS THE PRIVATE BUSINESS USE PERCENTAGE FOR EACH OF THEIR ISSUES, WHILE THE 2008A'S PERCENTAGE IS ABOVE 5% FOR THE YEAR, THE OVER THE LIFE PERCENTAGE FOR THE ISSUE WILL STILL BE UNDER THE 5% LIMITATION FOR THE ISSUE. SCHEDULE K, PART III, COLUMN D: THE SERIES 2017A ISSUE REFUND A PORTION OF SERIES 2007 ISSUE ALLOCATED TO REFUNDING THE 1997 ISSUE, ORIGINALLY ISSUED ON MARCH 20, 1997. SINCE THIS IS THE ONLY PURPOSE OF SERIES 2017A, THIS ISSUE IS EXEMPT FROM REPORTING ON PART III OF SCHEDULE K. SCHEDULE K, PART IV, LINE 2C: FOR BOND A (SERIES 2008A) A REBATE CALCULATION WAS PERFORMED ON 8/31/2018, FOR BOND B (SERIES 2014), A REBATE CALCULATION WAS PERFORMED ON 10/7/2016, FOR BOND C (SERIES 2016) A REBATE CALCULATION WAS PERFORMED ON 6/8/2021, FOR BOND D (SERIES 2017A), A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022 AND FOR BOND A (SERIES 2017B) A REBATE CALCULATIONS WAS PERFORMED ON 6/1/2022. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YAP4 2017-12-28 61875371 REFUNDING OF SERIES 2010 1 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584YVR7 2019-09-26 135463087 VARIOUS CAPITAL PROJECTS 1 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2022-06-09 42540000 REFUNDING OF SERIES 2012 0 0 0 D MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2024-09-12 20400000 FINANCE NEW CAPITAL PROJECT 0 0 0 A 12565000 61875371 546236 61329135 2017 0 1 1 1 B 21470000 136445784 12401694 912875 123131215 2022 0 0 1 1 C 3060000 42540000 42540000 2022 1 0 1 1 D 20400000 20400000 2025 0 0 1 1 A 0 1 0 0 0.00310 0.00310 0 0 1 B 0 1 1 1 0 0.00030 0.00030 0 0 1 C 0 1 1 1 0 0.00970 0.00970 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 NA N/A 7750 SCHOLARSHIP MERIT X 70 7569699 FAIR MARKET VALUE X 4 246000 FAIR MARKET VALUE X SUPPLIES/EQUIP 15 204324 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS DISCLOSED IN COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. MANAGEMENT REVIEWS THE COMPLETED FORM 990 WITH THE TAX ADVISORS. THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER APPROVAL BY THE AUDIT COMMITTEE, MANAGEMENT PROVIDES THE FORM 990, WITH THE EXCEPTION OF THE NAME AND ADDRESS OF THE DONORS LISTED ON SCHEDULE B, TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AS PART OF THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, ALL UNIVERSITY TRUSTEES, OFFICERS, AND KEY LEADERS (INCLUDING "KEY EMPLOYEES," AS DEFINED UNDER IRS RULES) ARE REQUIRED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT, IN WHICH THEY AFFIRM THAT: (A) THEY HAVE RECEIVED A COPY OF THE UNIVERSITY CONFLICT OF INTEREST POLICY; (B) THEY HAVE READ, UNDERSTAND AND AGREE TO COMPLY WITH THE UNIVERSITY CONFLICT OF INTEREST POLICY; (C) THEY UNDERSTAND THAT THE UNIVERSITY, AS A TAX-EXEMPT ORGANIZATION, MUST RESTRICT ITS ACTIVITIES PRIMARILY TO THOSE FOR WHICH ITS TAX-EXEMPT STATUS WAS GRANTED; AND (D) THE INFORMATION PROVIDED IN THE DISCLOSURE STATEMENT IS TRUE AND CORRECT TO THE BEST OF THEIR KNOWLEDGE. ADDITIONALLY, AS PART OF THE ANNUAL DISCLOSURE STATEMENT PROCESS, TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST, OR POTENTIAL CONFLICTS OF INTEREST, BASED ON THE QUESTIONS CONTAINED IN THE DISCLOSURE STATEMENT. AS MORE FULLY DESCRIBED IN THE CONFLICT OF INTEREST POLICY, THERE IS A WELL-DEFINED PROCESS FOR THE COLLECTION AND REVIEW OF RESPONSES TO THE ANNUAL DISCLOSURE STATEMENT BY THE OFFICE OF GENERAL COUNSEL AND THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES. IF, BASED ON THE DISCLOSURES, ANY CONFLICT MANAGEMENT PLANS ARE WARRANTED, THEY ARE DRAFTED BY THE OFFICE OF GENERAL COUNSEL, REVIEWED AND APPROVED BY THE AUDIT AND RISK COMMITTEE OF THE BOARD OF TRUSTEES, AND SIGNED BY THE DISCLOSER AND THE CHAIR OF THE AUDIT AND RISK COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE UNIVERSITY'S PRESIDENT AND CERTAIN OTHER OFFICERS AND KEY EMPLOYEES FOLLOWS THE REQUIREMENTS OF FEDERAL REGULATION 53.4958-6(A), WHICH ESTABLISHES A REBUTTABLE PRESUMPTION OF REASONABLE COMPENSATION. COMPENSATION IS REVIEWED AND APPROVED BY THE INDEPENDENT MEMBERS OF THE LEADERSHIP DEVELOPMENT & EXECUTIVE COMPENSATION COMMITTEE (LDEC) OF THE WPI BOARD OF TRUSTEES, IN ACCORDANCE WITH LDEC GUIDELINES AND PROCEDURES IMPLEMENTING THESE FEDERAL REQUIREMENTS. IN CONDUCTING ITS REVIEW, THE LDEC RELIES ON AN INDEPENDENT COMPENSATION CONSULTANT AND USES COMPARABLE MARKET DATA DRAWN FROM PUBLISHED SURVEYS AND THE FEDERAL FORM 990 FILINGS OF PEER INSTITUTIONS. THE COMMITTEE REVIEWS THIS COMPARABILITY DATA, SETS COMPENSATION WITHIN AN APPROPRIATE MARKET RANGE, AND DOCUMENTS ITS DELIBERATIONS AND DECISIONS IN MEETING MINUTES MAINTAINED WITH THE UNIVERSITY GOVERNANCE RECORDS. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON ITS WEBSITE (WWW.WPI.EDU). FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON BENEFICIAL INTEREST IN TRUSTS 968,937. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -909,037. NET UNREALIZED LOSS ON SWAPS -514,880. GAIN ON DISPOSAL OF ASSETS 5,225. REFUNDED GRANTS 2,073. GATEWAY PARK LLC 100 INSTITUTE ROAD WORCESTER MA 01609 043494779 REAL EST. DEV MA 0 0 WPI LANCASTER ISLAND LLC 100 INSTITUTE ROAD WORCESTER MA 01609 001108846 REAL ESTATE MA 0 0 WPI SAGAMORE GROVE LLC 100 INSTITUTE ROAD WORCESTER MA 01609 001283201 REAL ESTATE MA 0 0 WPI GROVE STREET LODGING LLC 100 INSTITUTE ROAD WORCESTER MA 01609 994240106 HOTEL OPERATIONS MA 5620308 26786025 WPI PRESCOTT STREET LODGING LLC 100 INSTITUTE ROAD WORCESTER MA 01609 994273604 HOTEL OPERATIONS MA 4517139 20033781 WPI ASSISTMENTS FOUNDATION 482 SOUTHBRIDGE ST 398 AUBURN MA 01501 834228740 EDUCATION MA 501(C)(3) LINE 12A, I WPI 1 CHARITABLE REMAINDER TRUSTS (17) 100 INSTITUTE ROAD WORCESTER MA 01609 CHAR TRUSTS MA N/A T 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ASSISTMENTS FOUNDATION B 785539 CASH