Bentley University

“Form 990 review process 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 april for its review. Upon completion of that review in early may, the complete form 990 was made available to the full board prior to filing with the irs.”

“Conflict of interest policy 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 arm's length, with terms that are fair and reasonable to 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 compensation arrangements for the president and all officers are reviewed and approved, in advance of any payment, by the compensation and benefits committee of the board of trustees, which is independent of management and free of any conflicts of interest that would interfere with their exercise of independent judgment. The compensation and benefits committee reviews other non-profit organizations' forms 990 and general salary surveys and salaries and then submits its recommendations for approval by the full board. In addition, the university periodically engages an independent party that reviews salary information and reports results to the compensation and benefits committee of the board of trustees. Detail of all discussions of the trustee compensation and benefits committee is contemporaneously documented. The process for determining that the compensation of the university's president and all officers is reasonable and satisfies the rebuttable presumption standard of treasury regulation section 53.4958-6.”

“Public disclosure the university's principal governing documents, including the articles of incorporation and by-laws, are filed with the massachusetts secretary of state and therefore 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 university's financial statements do include a footnote discussing related-party transactions. The conflict of interest policy is also available upon request.”

“New president start date effective 6/1/2021, e. Labrent chrite became the president of the university.”

“Organization's mission bentley university changes the world with a transformative business education, integrated with arts and sciences, that inspires and prepares ethical leaders who will confront the challenges of today and shape the opportunities of tomorrow. Form 990, part iii, line 1 organization's mission bentley university is more than just one of the nation's top business schools. It is a lifelong-learning community that creates successful leaders who make business a force for positive change. With a combination of business and the arts and sciences and a flexible, personalized approach to education, bentley provides students with critical thinking and practical skills that prepare them to lead successful, rewarding careers. Founded in 1917, the university enrolls 4,000 undergraduate and 1,000 graduate and phd students and is set on 163 acres in waltham, massachusetts, 10 miles west of boston. For more information, visit www.bentley.edu. Bentley university enjoys a strong position in many major rankings and lists including u.s. News & world report, princeton review, and many other national publications. Undergraduate and graduate business programs at bentley university are accredited by aacsb international (the association to advance collegiate schools of business). The university is also accredited by the new england commission of higher education (neche). These accreditations indicate that bentley university meets or exceeds established standards as determined by periodic aacsb peer group reviews.”

“Change in fair value of interest rate swaps 7,114,000. Other non-operating activities -1,114,000.”