2026-05-15T14:40:15-05:00 2025-06-30 263753134 CBIZ ADVISORS LLC 53 STATE STREET 17TH FLOOR BOSTON MA 02109 990 2024-07-01 042104700 MCPHS UNIVERSITY MCPH 6177322800 179 LONGWOOD AVENUE BOSTON MA 02115 KEITH A BELLUCCI CHIEF FINANCIAL OFFICER 6177322800 2026-05-15 1 1 CRAIG KLEIN P00734640 6178075000 2026-05-15 2024 2025-03-06 01:10:19Z RICHARD J LESSARD 179 LONGWOOD AVENUE BOSTON MA 02115 757428592 0 X WWW.MCPHS.EDU X 1852 MA MCPHS UNIVERSITY IS A PRIVATE, ACCREDITED EDUCATIONAL INSTITUTION SPECIALIZING IN PREPARING STUDENTS FOR MEDICAL CAREERS BY PROVIDING INTENSIVE PROGRAMS OF STUDY IN PHARMACY AND OTHER HEALTH SCIENCES. 14 14 3041 80 -149365 0 4668855 3811906 297242766 301883302 45225585 145778155 4762690 5001967 351899896 456475330 70878041 68167812 0 0 150361198 160524233 0 0 1107451 73916934 74489594 295156173 303181639 56743723 153293691 2232149877 2452106199 152753503 143991684 2079396374 2308114515 MCPHS UNIVERSITY PREPARES STUDENTS FOR CAREERS IN HEALTH CARE THROUGH TEACHING, SCHOLARSHIP, RESEARCH, PROFESSIONAL SERVICE AND COMMUNITY ENGAGEMENT. 0 0 258123963 68167812 281813373 THE UNIVERSITY PROVIDED EDUCATIONAL PROGRAMS TO STUDENTS PURSUING UNDERGRADUATE AND GRADUATE DEGREES IN PHARMACY AND HEALTH SCIENCE DISCIPLINES. 16237683 20030317 THE UNIVERSITY PROVIDED RESIDENCE HALL ACCOMODATIONS FOR STUDENTS. 383767 39612 THE UNIVERSITY PROVIDED CONTINUING EDUCATION COURSES AND PROGRAMS FOR PHARMACISTS AND OTHER HEALTH CARE PROFESSIONALS. 274745413 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 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 7810 0 1 3041 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 14 14 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NH X X KEITH A BELLUCCI CHIEF FINANCIAL 6177322888 179 LONGWOOD AVENUE BOSTON MA 02115 HEIDI SNYDER TRUSTEE 5.00 X 0 0 0 RICHARD E GRIFFIN TRUSTEE 5.00 X 0 0 0 MICHAEL SEARVANCE TRUSTEE 5.00 X 0 0 0 MARYESTHER L FOURNIER TRUSTEE 5.00 X 0 0 0 MARIE DYER TRUSTEE 5.00 X 0 0 0 LESLEY L WALLS TRUSTEE 5.00 X 0 0 0 LAURA CHAN TRUSTEE 5.00 X 0 0 0 CAROL BRIGHT TRUSTEE 5.00 X 0 0 0 GARY J KERR TRUSTEE 5.00 X 0 0 0 GAIL P BUCHER TRUSTEE 5.00 X 0 0 0 KAREN TUBRIDY TRUSTEE 5.00 X 0 0 0 EMERY W JOHNSON TRUSTEE 5.00 X 0 0 0 DAVID L MAHER EX-OFFICIO TRUSTEE 5.00 X 0 0 0 CHRISTOPHER FLYNN TRUSTEE 5.00 X 0 0 0 RICHARD J LESSARD PRESIDENT 55.00 X 1358888 0 431664 CAROLINE ZEIND VPAA - PROVOST 55.00 X 765817 0 182414 KEITH A BELLUCCI CHIEF FINANCIAL OFFICER 55.00 X 638935 0 171171 THOMAS A SCANLON CHIEF INFORMATION OFFICER 55.00 X 488615 0 54891 ROBERT DICENZO DEAN 55.00 X 388979 0 54794 KEVIN M DOLAN CHIEF HUMAN RESOURCES OFFICER 55.00 X 374067 0 52041 SUSAN L GORMAN CHIEF ADVANCEMENT OFFICER 55.00 X 318422 0 50841 ERIC THOMPSON CHIEF ENROLLMENT OFFICER 55.00 X 316265 0 39833 ASHLEIGH C JONES CHIEF BUSINESS OFFICER 55.00 X 337433 0 61461 CHARLES BRECKLING CHIEF DIGITAL MARKETING OFFICER 55.00 X 380620 0 67580 KEVIN M MCGOVERN SOFTWARE DIRECTOR 55.00 X 345263 0 54502 TAMMY GRAVEL DEAN 55.00 X 308916 0 64219 DELIA M ANDERSON DEAN 55.00 X 312740 0 52442 FREDERICK FRANKHAUSER PROFESSOR 55.00 X 324517 0 57837 STEPHEN KERR FMR. INTERIM DEAN/CURR. ASSOC. PROVOST 55.00 X 264399 0 48133 6923876 0 1443823 446 1 1 0 SODEXO INC & AFFILIATES 525 WILLIAM PENN PL PITTSBURGH PA 15219 DINING SERVICES 2361657 HARVARD MAINTENANCE 800 WEST CUMMINGS PARK SUITE 1850 WOBURN MA 01801 MAINTENANCE SERVICES 933065 SECURITAS SECURITY SERVICES 2 CAMPUS DRIVE PARSIPPANY NJ 07054 SECURITY SERVICES 881698 SIGNATURE PRINTING & CONSULTING 800 WEST CUMMINGS PARK SUITE 2900 WOBURN MA 01801 MEDIA CONSULTING 812042 PROFESSIONAL STAFFING GROUP 155 FEDERAL STREET BOSTON MA 02110 STAFFING SERVICES 390132 38 2767550 1044356 3811906 TUITION AND FEES 900099 264721778 264721778 ROOM AND BOARD REVENUE 531110 20030317 20030317 RESEARCH GRANTS 900099 14451819 14451819 OTHER REVENUES 900099 2639776 2639776 CONTINUING EDUCATION 900099 39612 39612 301883302 45181283 -149604 45330887 8209873 3207906 5001967 5001967 5001967 398342228 297745356 100596872 100596872 239 100596633 456475330 301883302 -149365 150929487 68167812 68167812 6224469 1492932 4652477 79060 116809368 109468228 6882058 459082 9004108 8343406 619385 41317 20072335 17795123 2146044 131168 8413953 7538983 832576 42394 707934 707934 208134 208134 1397177 1397177 3517331 3203875 284548 28908 1774114 1774114 469218 415102 43591 10525 6431270 5893921 496382 40967 22331668 20327889 1973431 30348 1596814 1488955 107859 3277587 2487948 692860 96779 1824359 1497104 314163 13092 12651831 10827713 1738706 85412 1209396 1209396 INSTITUTIONAL STIPENDS 4445144 4445144 CLASSROOM SUPPLIES 2633043 2633043 STUDENT MEAL PLANS 2346993 2346993 COVID-19 COSTS/CARES 34676 34676 7632905 4562452 3022054 48399 303181639 274745413 27328775 1107451 6586 5646 87860820 102318650 2487820 2557182 8897326 8628921 6375883 7014703 400714410 221770093 182098623 178944317 868306597 1011192319 1001960674 1074489509 74155548 66954952 2232149877 2452106199 17444142 18167062 17814617 21038462 49245178 44685522 68249566 60100638 152753503 143991684 X 2029947294 2253540305 49449080 54574210 2079396374 2308114515 2232149877 2452106199 153293691 75424450 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 302074188 302074188 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 62025272 130372 7144007 490550 684430 68124671 56302730 305091 6517576 478350 621775 62025272 51571171 250976 5585408 486175 618650 56302730 59311954 426647 -7146848 493675 526907 51571171 45034879 128573 14922351 382925 390924 59311954 0.23600 0.32500 0.43900 0 0 20841798 20841798 362139696 211966602 150173094 17732916 9803491 7929425 178944317 REAL ESTATE FUNDS 33719011 F FIXED INCOME FUNDS 157479342 F INTERNATIONAL EQUITY FUNDS 196743791 F ASSET ALLOCATION FUNDS 66722593 F INFLATION PROTECTION FUNDS 108607862 F ALTERNATIVE ASSET FUNDS 511216910 F 1074489509 GOVT ADVANCES - STUDENT LOANS 9234572 OPERATING LEASE OBLIGATIONS 50866066 60100638 X 462334791 75424450 75424450 386910341 1397177 68167812 69564989 456475330 233616650 0 233616650 1397177 68167812 69564989 303181639 PART V, LINE 4: ENDOWMENT FUNDS ARE PERPETUALLY INVESTED AND ADMINISTERED IN ACCORDANCE WITH DONOR RESTRICTION OR BOARD DESIGNATION. EARNINGS APPROPRIATED FROM ENDOWMENT FUNDS ARE DESIGNATED AND USED FOR STUDENT SCHOLARSHIPS. PART X, LINE 2: THE UNIVERSITY IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX ON ITS RELATED ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY IS ALSO GENERALLY EXEMPT FROM STATE INCOME TAXES ON SUCH RELATED ACTIVITIES. CERTAIN ACTIVITIES OF EXEMPT ORGANIZATIONS UNRELATED TO THEIR MISSION MAY GENERATE INCOME THAT IS SUBJECT TO FEDERAL AND STATE TAXATION AS UNRELATED BUSINESS INCOME. AS THE UNIVERSITY'S UNRELATED BUSINESS INCOME IS DE MINIMIS, MANAGEMENT HAS CONCLUDED THAT DISCLOSURES RELATED TO TAX PROVISIONS ARE NOT NECESSARY. THE UNIVERSITY ACCOUNTS FOR UNCERTAIN TAX POSITIONS BASED ON THE LIKELIHOOD OF POSITIONS BEING SUSTAINED ON THEIR TECHNICAL MERITS WHILE UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF TAX POSITIONS ARE DEEMED TO CARRY SIGNIFICANT UNCERTAINTY, UNRECOGNIZED TAX LIABILITIES ARE ESTIMATED FOR DISCLOSURE BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE UNIVERSITY HAS IDENTIFIED ITS TAX STATUS AS AN EXEMPT ORGANIZATION AND THE DETERMINATION OF BUSINESS INCOME AS BEING RELATED OR UNRELATED TO ITS EXEMPT PURPOSES AS ITS ONLY SIGNIFICANT TAX POSITIONS. THE UNIVERSITY HAS DETERMINED THAT SUCH POSITIONS DO NOT CONSTITUTE AN UNCERTAINTY REQUIRING RECOGNITION. THE UNIVERSITY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE UNIVERSITY'S FEDERAL AND STATE INFORMATIONAL FILINGS ARE GENERALLY OPEN TO EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES DEDUCTED FROM REVENUES IN AUDITED FINANCIAL STATEMENTS 68,167,812. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSES DEDUCTED FROM REVENUES IN AUDITED FINANCIAL STATEMENTS 68,167,812. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE PART II PART I, LINE 3: THE UNIVERSITY'S NON-DISCRIMINATORY POLICY APPEARS ON ALL APPLICATION FORMS FOR ADMISSION AND EMPLOYMENT. THE UNIVERSITY COMPLIES WITH FEDERAL AND STATE REGULATIONS REGARDING NON-DISCRIMINATION. PART I, LINE 6A: THE UNIVERSITY RECEIVED TITLE IV MONIES FROM THE UNITED STATES DEPARTMENT OF EDUCATION, AS WELL AS FUNDS FROM VARIOUS STATE AGENCIES. THESE MONIES RECEIVED WERE RESTRICTED TO AND USED FOR STUDENT FINANCIAL AID APPLIED TO TUITION AND FEES IN ACCORDANCE WITH FEDERAL AND STATE REGULATIONS. 1 STUDENT SCHOLARSHIPS 8682 68167812 SCHOLARSHIP AWARDS TUITION DISCOUNTS PART I, LINE 2: THE UNIVERSITY'S STUDENT SCHOLARSHIPS (GRANTS) ARE NON-CASH TUITION DISCOUNTS APPLIED DIRECTLY TO STUDENT ACCOUNTS AND CANNOT BE DIVERTED FROM INTENDED USES. THE NUMBER OF RECIPIENTS REPORTED ABOVE WAS COMPILED FROM SCHOLARSHIP DISBURSEMENT RECORDS FOR THE REPORTED FISCAL YEAR. THE UNIVERSITY'S FINANCIAL AID OFFICE MONITORS ALL RECIPIENTS OF SCHOLARSHIP AWARDS TO DETERMINE BOTH INITIAL AND CONTINUING ELIGIBILITY BASED UPON THE CRITERIA FOR EACH TYPE OF AWARD. CRITERIA MAY INCLUDE, BUT IS NOT LIMITED TO, ACADEMIC STANDING AND FINANCIAL NEED. X X X X X X 0 1 0 0 0 0 0 1 0 RICHARD J LESSARD PRESIDENT 901000 0 405000 0 52888 0 409500 0 22164 0 1790552 0 0 0 CAROLINE ZEIND VPAA - PROVOST 516500 0 244000 0 5317 0 160250 0 22164 0 948231 0 0 0 KEITH A BELLUCCI CHIEF FINANCIAL OFFICER 432500 0 203000 0 3435 0 139550 0 31621 0 810106 0 0 0 THOMAS A SCANLON CHIEF INFORMATION OFFICER 433500 0 50000 0 5115 0 33850 0 21041 0 543506 0 0 0 CHARLES BRECKLING CHIEF DIGITAL MARKETING OFFICER 351000 0 25000 0 4620 0 33700 0 33880 0 448200 0 0 0 ROBERT DICENZO DEAN 384010 0 0 0 4969 0 33753 0 21041 0 443773 0 0 0 KEVIN M DOLAN CHIEF HUMAN RESOURCES OFFICER 310000 0 60000 0 4067 0 31000 0 21041 0 426108 0 0 0 KEVIN M MCGOVERN SOFTWARE DIRECTOR 334612 0 0 0 10651 0 33461 0 21041 0 399765 0 0 0 ASHLEIGH C JONES CHIEF BUSINESS OFFICER 275808 0 60000 0 1625 0 27581 0 33880 0 398894 0 0 0 FREDERICK FRANKHAUSER PROFESSOR 287567 0 0 0 36950 0 23957 0 33880 0 382354 0 0 0 TAMMY GRAVEL DEAN 303389 0 0 0 5527 0 30339 0 33880 0 373135 0 0 0 SUSAN L GORMAN CHIEF ADVANCEMENT OFFICER 298000 0 15000 0 5422 0 29800 0 21041 0 369263 0 0 0 DELIA M ANDERSON DEAN 302779 0 0 0 9961 0 30278 0 22164 0 365182 0 0 0 ERIC THOMPSON CHIEF ENROLLMENT OFFICER 287500 0 25000 0 3765 0 28750 0 11083 0 356098 0 0 0 STEPHEN KERR FMR. INTERIM DEAN/CURR. ASSOC. PROVO 259692 0 0 0 4707 0 25969 0 22164 0 312532 0 0 0 PART I, LINE 4B: DURING THE YEAR, THE UNIVERSITY'S PRESIDENT, VICE PRESIDENT, AND CHIEF FINANCIAL OFFICER PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. NO AMOUNTS WERE PAID DURING THE YEAR, AND AMOUNTS ACCRUED ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. PART I, LINE 7: SEVERAL OFFICERS AND KEY EMPLOYEES RECEIVED NON-FIXED, NON-CONTRACTUAL PAYMENTS REPRESENTING PERFORMANCE PAYMENTS DETERMINED ON A DISCRETIONARY BASIS RESULTING FROM ANNUAL PERFORMANCE APPRAISAL AND COMPENSATION REVIEW. A SEE PART VI 043431814 57583UUU0 2013-02-07 27794152 ADVANCE REFUNDING 0 0 0 B SEE PART VI 043431814 57583U5H7 2015-03-25 22717475 ADVANCE REFUNDING 0 0 0 A 27794152 357421 2013 0 1 1 1 B 22717475 271256 2015 0 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (B) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2025 (B) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2025 FORM 990, PART VI, SECTION A, LINE 1A THE UNIVERSITY'S EXECUTIVE COMMITTEE MEMBERSHIP CONSISTS OF THE CHAIRMAN OF THE BOARD OF TRUSTEES AND OTHER MEMBERS OF THE BOARD OF TRUSTEES AS NOMINATED BY THE CHAIRMAN. THE FULL BOARD OF TRUSTEES HAS VOTED TO DELEGATE TO THE EXECUTIVE COMMITTEE ALL THE POWERS OF THE TRUSTEES EXCEPT THOSE POWERS WHICH BY LAW, BY THE UNIVERSITY'S CHARTER, OR THE UNIVERSITY'S BY-LAWS ARE PROHIBITED FROM DELEGATING. SUCH POWERS MAY BE EXERCISED DURING INTERVALS BETWEEN THE MEETINGS OF THE FULL BOARD, AND THE EXECUTIVE COMMITTEE SHALL REPORT THE EXERCISE OF ANY SUCH POWERS TO ALL TRUSTEES WITHIN A REASONABLE TIME THEREAFTER. FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY IS A NON-STOCK CORPORATION WITH ONE CLASS OF CORPORATION MEMBERS WHOSE RESPONSIBILITY IS TO ELECT MEMBERS OF THE BOARD OF TRUSTEES (THE "BOARD"), THE UNIVERSITY'S GOVERNING BODY. MEMBERS DO NOT APPROVE SIGNIFICANT DECISIONS OF THE BOARD. MEMBERS DO NOT RECEIVE ANY SHARE OF THE ORGANIZATION'S PROFITS OR ANY SHARE OF THE ORGANIZATION'S NET ASSETS UPON DISSOLUTION. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION FOR FORM 990, PART VI, SECTION A, LINE 6 ABOVE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE UNIVERSITY'S COMPLETED FORM 990 IS DISTRIBUTED TO ALL TRUSTEES PRIOR TO FILING. THE FORM 990 IS ALSO REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHOSE MEMBERS SUBSTANTIALLY REPRESENT THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THIS REVIEW PROVIDES FOR DETAILED OVERSIGHT AMONG INDIVIDUALS GOVERNING UNIVERSITY FINANCES AND OFFICER COMPENSATION. FORM 990 IS ALSO REVIEWED BY THE UNIVERSITY'S CHIEF FINANCIAL OFFICER, CHIEF BUSINESS OFFICER AND INDEPENDENT ADVISORS FROM A NATIONAL ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED ANNUALLY TO COMPLETE A STATEMENT DISCLOSING ALL BUSINESS AND FAMILY RELATIONSHIPS THAT COULD CREATE A CONFLICT OF INTEREST WITHIN THE UNIVERSITY. ALL POTENTIAL CONFLICTS ARE REVIEWED BY THE TRUSTEES INDEPENDENT OF THE PERSON CONCERNED, AND RESOLUTIONS ARE VOTED PRESERVING THE UNIVERSITY'S INTERESTS WHILE THE PERSON WITH THE POTENTIAL OR ACTUAL CONFLICT IS RECUSED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE UNIVERSITY'S PRESIDENT AND OTHER OFFICERS IS REVIEWED AND AUTHORIZED BY THE COMPENSATION COMMITTEE, WHOSE MEMBERS ALSO SERVE ON THE UNIVERSITY'S FINANCE COMMITTEE. NO PERSONS WITH A CONFLICT OF INTEREST WITH RESPECT TO COMPENSATION ARRANGEMENTS SERVE ON THE COMMITTEE. A COMPENSATION CONSULTANT PROVIDES THE GROUP WITH DATA AND RECOMMENDATIONS INCLUDING COMPARABLE COMPENSATION FOR QUALIFIED PERSONS IN COMPARABLE POSITIONS AT SIMILAR INSTITUTIONS. COMMITTEE MINUTES, DECISIONS, AND COMPENSATION ARRANGEMENTS ARE ALL CONTEMPORANEOUSLY DOCUMENTED. THE COMPENSATION COMMITTEE LAST COMPLETED THEIR OFFICER COMPENSATION REVIEW PROCESS IN FISCAL YEAR ENDED JUNE 30, 2025. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENT IS ITS CORPORATE CHARTER ENACTED BY MASSACHUSETTS LEGISLATURE, A COPY OF WHICH IS PROVIDED UPON REQUEST AND IS ALSO PUBLICLY AVAILABLE AT THE OFFICE OF THE SECRETARY OF MASSACHUSETTS. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES IS PART OF THE UNIVERSITY'S BY-LAWS AND IS AVAILABLE UPON REQUEST. THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE OFFICE OF THE ATTORNEY GENERAL OF MASSACHUSETTS, AS FILED ANNUALLY WITH MASSACHUSETTS FORM PC - REPORT OF PUBLIC CHARITIES. AUDITED FINANCIAL STATEMENTS ARE ALSO PROVIDED ON REQUEST.