Civic Intelligence

Lesley University

990 • Fiscal year 2016 • EIN 04-2103589

Jul 01, 2015 to Jun 30, 2016 • Filed on May 09, 2017

29 Everett StreetCambridge, MA 02138-2790

(617) 349-8685

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

47th percentile

0.32x

Higher debt load relative to assets than 47% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

1.08x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Net Margin

33rd percentile

0.6%

Higher net margin than 33% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

31st percentile

$558,094

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Asset Growth

20th percentile

-3.2%

Faster asset growth than 20% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

30th percentile

-2.2%

Faster revenue growth than 30% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Assets

Down

$383,034,489

Down $12,856,861 (-3.2%) from 2015

Net Assets

Down

$260,559,299

Down $6,723,488 (-2.5%) from 2015

Liabilities

Down

$122,475,190

Down $6,133,373 (-4.8%) from 2015

Revenue

Down

$113,128,556

Down $2,505,338 (-2.2%) from 2015

Expenses

Up

$112,500,490

Up $6,033,470 (+5.7%) from 2015

Net Income

Down

$628,066

Down $8,538,808 (-93%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $317,124,368Liabilities 2010: $116,485,351Net Assets 2010: $200,639,0172010Assets 2011: $343,924,145Liabilities 2011: $121,915,113Net Assets 2011: $222,009,0322011Assets 2012: $338,574,676Liabilities 2012: $120,174,549Net Assets 2012: $218,400,1272012Assets 2013: $356,431,832Liabilities 2013: $117,473,508Net Assets 2013: $238,958,3242013Assets 2014: $397,707,417Liabilities 2014: $134,879,636Net Assets 2014: $262,827,7812014Assets 2015: $395,891,350Liabilities 2015: $128,608,563Net Assets 2015: $267,282,7872015Assets 2016: $383,034,489Liabilities 2016: $122,475,190Net Assets 2016: $260,559,2992016Assets 2017: $400,262,616Liabilities 2017: $129,020,710Net Assets 2017: $271,241,9062017Assets 2018: $399,865,961Liabilities 2018: $126,304,088Net Assets 2018: $273,561,8732018Assets 2019: $422,143,910Liabilities 2019: $148,244,038Net Assets 2019: $273,899,8722019Assets 2020: $417,901,477Liabilities 2020: $158,065,377Net Assets 2020: $259,836,1002020Assets 2021: $459,682,175Liabilities 2021: $156,058,314Net Assets 2021: $303,623,8612021Assets 2022: $422,988,983Liabilities 2022: $159,140,630Net Assets 2022: $263,848,3532022Assets 2023: $422,901,748Liabilities 2023: $147,478,385Net Assets 2023: $275,423,3632023Assets 2024: $435,216,507Liabilities 2024: $133,236,041Net Assets 2024: $301,980,4662024

Highlighted filing

2016

Assets$383,034,489
Liabilities$122,475,190
Net Assets$260,559,299

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $110,217,0132010Expenses 2011: $116,710,7062011Expenses 2012: $120,838,5052012Revenue 2013: $128,750,897Expenses 2013: $123,483,722Net Income 2013: $5,267,1752013Revenue 2014: $122,147,016Expenses 2014: $119,160,401Net Income 2014: $2,986,6152014Revenue 2015: $115,633,894Expenses 2015: $106,467,020Net Income 2015: $9,166,8742015Revenue 2016: $113,128,556Expenses 2016: $112,500,490Net Income 2016: $628,0662016Revenue 2017: $124,943,990Expenses 2017: $118,057,904Net Income 2017: $6,886,0862017Revenue 2018: $122,031,534Expenses 2018: $122,787,880Net Income 2018: -$756,3462018Revenue 2019: $134,182,327Expenses 2019: $128,203,355Net Income 2019: $5,978,9722019Revenue 2020: $116,825,952Expenses 2020: $125,113,113Net Income 2020: -$8,287,1612020Revenue 2021: $126,944,351Expenses 2021: $108,405,064Net Income 2021: $18,539,2872021Revenue 2022: $114,171,327Expenses 2022: $120,096,401Net Income 2022: -$5,925,0742022Revenue 2023: $117,726,321Expenses 2023: $116,817,987Net Income 2023: $908,3342023Revenue 2024: $150,495,525Expenses 2024: $122,647,449Net Income 2024: $27,848,0762024

Highlighted filing

2016

Revenue$113,128,556
Expenses$112,500,490
Net Income$628,066
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 9, 2017
Return Version
2015v3.0
Gross Receipts
$180,749,006
Mission and Program Overview

Mission

Lesley university engages students in transformative education, through active learning, scholarly research, diverse forms of artistic expression, and the integration of rigorous academics with practical, professional experience, leading meaningful careers and continuing lifelong learning. Lesley prepares socially responsible graduates with the knowledge, skills, understanding and ethical judgment to be catalysts shaping a more just, humane, and sustainable world.

Lesley university engages students in transformative education, through active learning, scholarly research, diverse forms of artistic expression, and the integration of rigorous academics with practical, professional experience, leading to meaningful careers and continuing lifelong learning. Lesley prepares socially responsible graduates with the knowledge, skills, understanding and ethical judgment to be catalysts shaping a more just, humane, and sustainable world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$190,391,048$186,292,921▼ $4,098,127
Investments Other Securities$176,663,836$172,728,462▼ $3,935,374
Pledges and Grants Receivable$8,531,768$5,901,202▼ $2,630,566
Accounts Receivable$6,374,900$4,928,341▼ $1,446,559
Prepaid Expenses and Deferred Charges$2,564,073$2,934,475▲ $370,402
Other Notes and Loans Receivable, Net$1,664,999$1,698,737▲ $33,738
Savings and Temporary Cash Investments$1,252,250$1,214,169▼ $38,081
Cash and Non-Interest-Bearing Accounts$562,935$-512,770▼ $1,075,705
Total Assets$395,891,350$383,034,489▼ $12,856,861
Other Assets Total$7,885,541$7,848,952▼ $36,589
Liabilities
Tax Exempt Bond Liabilities$84,627,675$82,714,569▼ $1,913,106
Mortgage Notes Payable Secured by Investment Property$16,415,182$16,218,991▼ $196,191
Deferred Revenue$11,787,445$12,107,934▲ $320,489
Accounts Payable and Accrued Expenses$14,372,675$9,999,518▼ $4,373,157
Grants Payable$1,405,586$1,434,178▲ $28,592
Total Liabilities$128,608,563$122,475,190▼ $6,133,373
Net Assets / Fund Balance
Unrestricted Net Assets$235,582,767$229,833,999▼ $5,748,768
Permanently Rstr Net Assets$14,700,884$16,072,819▲ $1,371,935
Temporarily Rstr Net Assets$16,999,136$14,652,481▼ $2,346,655
Total Net Assets Fund Balance$267,282,787$260,559,299▼ $6,723,488
Total Liabilities and Net Assets / Fund Balance$395,891,350$383,034,489▼ $12,856,861

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$106,682,164$28,638,069$135,320,233
Leasehold Improvements$57,847,567$24,319,186$82,166,753
Land$16,274,549-$16,274,549
Equipment$5,172,624$9,040,124$14,212,748
Other Land Buildings$316,017-$316,017
Other Securities$10,076,326--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$176,663,836$8,046,323▼ $3,040,776$8,566,786$172,728,456
2014$189,000,050$312,859▼ $3,307,555$9,003,416$176,663,836
2013$170,225,361$1,209,134▲ $25,487,087$7,640,722$189,000,050
2012$156,353,512$4,525,397▲ $16,594,366$6,971,886$170,225,361
2011$163,936,032$2,899,799▼ $2,452,105$7,743,796$156,353,512
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph B MoorePresidentFT$406,925$151,169$558,094
Wayne Selase WilliamsProvostFT$257,586$16,419$274,005
Mary Lou BattVP of AdministrationFT$215,900$25,224$241,124
Bernice BradinVP of Finance/CFOFT$211,680$27,142$238,822
Shirin PhilippVP & General CounselFT$201,184$18,659$219,843
Mary Lou DymskiVP of Budgeting & Financial PlanningFT$199,235$16,234$215,469
Jonathon H GilletteDean of GsoeFT$191,628$22,076$213,704
Janis M SagarinVP of AdvancementFT$173,840$37,261$211,101
Mary Patricia LohseChief of StaffFT$158,734$40,964$199,698
Richard J ZauftDean of LucadFT$176,071$13,484$189,555
Lisa IjiriAssociate ProvostFT$168,479$19,592$188,071
Irene FountasProgram Director, AfacFT$164,395$23,000$187,395
Timothy RobisonVP of Enrollment ManagementFT$160,564$22,300$182,864
George SmithDirector of Operations & Campus PlanningFT$145,253$32,893$178,146
Christopher JamesProfessor LucadFT$135,698$35,097$170,795
Anne M CollinsCenter Director, AfacFT$155,738$14,457$170,195
Jeremy a ThompsonAsst VP of Marketing & CommunicationsFT$141,287$26,182$167,469
Jeremy a ThompsonAsst VP of Marketing & Communication-$141,183$26,286$167,469
Anna C KoverolaFormer Dean of GsassFT$119,095$23,200$142,295
Stanley TreckerFormer Dean of LucadFT$104,099$10,961$115,060
Katherine McweyAssistant ClerkFT$71,604$20,773$92,377

Highest Paid Contractors

ContractorServicesLocationCompensation
John Moriarity & AssociatesConstruction3 CHURCH ST, Winchester, MA 01890$9,487,866
C&w Facility ServicesFacility Management275 GROVE ST STE 3-200, Auburndale, MA 02446-2239$4,764,989
Bon Appetit Management CoFood ServicePO BOX 417632, Boston, MA 02241$4,447,219
Securitas Security SvcsSecurity ServicesPO BOX 403412, Atlanta, GA 30384-3412$1,598,462
White Builders INCConstruction3 BREED AVENUE, Woburn, MA 01801$1,436,408
Revenue and Support

Revenue Composition

Contributions and Grants
$6,057,754
Program Service Revenue
$98,135,854
Investment Income
$7,076,395
Other Revenue
$1,858,553
All Other Contributions
$4,601,661
Change in Net Assets
$628,066

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded22$1,410,716Fair Market Value (FMV) on Date of Sale
Total Noncash Contributions22$1,410,716-

Audited Revenue Reconciliation

Revenue per Audited Statements
$112,411,576
Revenue Not Reported on Financial Statements
$716,980
Revenue Not Reported on Form 990
$-4,534,264
Total Revenue per Audited Statements
$107,877,312
Total Revenue per Form 990
$113,128,556
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$59,327,294
Other Expenses$41,931,397
Grants and Similar Amounts Paid$11,152,609
Total Fundraising Expense$1,817,455
Professional Fundraising Fees$89,190

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,639,748$4,845,515$918,728$45,403,991
Grants to Domestic Individuals$11,152,609--$11,152,609
Depreciation Depletion$6,535,286$235,334-$6,770,620
Other Employee Benefits$4,402,493$632,912$102,598$5,138,003
Occupancy$2,889,915$2,122,060$6,314$5,018,289
Interest$3,892,783$586,921-$4,479,704
Current Officers, Directors, Trustees, and Key Employees$1,213,845$1,947,244$212,336$3,373,425
Payroll Taxes$2,782,208$428,092$95,862$3,306,162
Office Expenses$2,076,654$34,819$183,914$2,295,387
Fees for Services Other$1,197,940$1,022,912$757$2,221,609
Pension Plan Contributions$1,886,928$177,489$41,296$2,105,713
Information Technology$788,826$1,105,852$47,008$1,941,686
Travel$1,522,513$284,997$71,150$1,878,660
All Other Expenses$516,196$1,074,830$-4,808$1,586,218
Other Expenses$1,053,021$92,128$46,000$1,145,149
Advertising$867,273$45,325$4,086$916,684
Fees for Service Investment Mgmnt Fees-$716,980-$716,980
Fees for Services Legal-$372,185-$372,185
Insurance-$345,851-$345,851
Conferences and Meetings$176,729$23,264$3,024$203,017
Fees for Services Accounting-$113,475-$113,475
Fees for Services Professional Fundraising--$89,190$89,190
Fees for Services Lobbying$12,000--$12,000
Total Functional Expenses$94,235,807$16,447,228$1,817,455$112,500,490

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$114,600,800
Total Expenses per Form 990$112,500,490
Expenses per Audited Statements$111,783,510
Expenses Not Reported on Form 990$2,817,290
Expenses Not Reported on Financial Statements$716,980
International Activity

International Summary

Offices
0
Employees
0
Spending
$10,860,347

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvesting-00$10,860,347
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$89,190
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Substantial ContributorFacility MaintenanceNo$4,857,301
-Spouse of TrusteePayment for Construction Services.No$1,334,072
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
CMass Health and Educational Facilities Authority2009-03-10$56,221,393Fund new capital projects
DMass Development Finance Agency2011-03-30$32,013,314Refinance existing debt and fund new capital projects
AMass Development Finance Agency2003-12-19$26,000,000Refinance exisiting debt and fund new capital projects
BMass Development Finance Agency2006-05-19$7,000,000Fund new capital projects
AMass Development Finance Agency2012-08-20$5,030,300REFINANCE EXISTING DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$56,221,393$1,672,796-$611,025
D$32,013,314--$497,603
A$26,000,000$99,726-$520,000
B$7,000,000$28,687-$35,000
A$5,030,300---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

In december 2015, the board of trustees amended the bylaws. The amendment changed the definition of quorum for meetings of committees of the board.

Form 990, Part VI, Section B, Line 11

Once management reviews the 990, it is forwarded to the audit committee for review. It is also placed on a secure website for all the trustees to review prior to filing.

Form 990, Part VI, Section B, Line 12C

Each year, each member of the board of trustees, all officers and each key employee is asked to review the university's conflict of interest policy and submit a disclosure statement regarding any conflicts of interest they may have. New trustees and key employees are asked to review the policy and submit a disclosure statement regarding any conflicts of interest they may have upon commencement of their term or their employment. The assistant clerk collects the disclosure statements. The policy describes a process for the review of potential and actual conflicts of interest by the board of trustees or a committee of the board.

Form 990, Part VI, Section B, Line 15A

President moore's employment agreement and compensation were reviewed and approved in advance by the independent members of the university's board of trustees. In making its decision, the board of trustees reviewed comparability data provided by a third-party compensation consultant. The board's decision was contemporaneously documented in the minutes of the board meeting.

Form 990, Part VI, Section C, Line 19

All governing documents and financial statements are available upon request. Our financial statements are also available on the nacubo website. Our forms 990 (current and prior three years) are also available on the official website of the attorney general of massachusetts at www.charities.ago.state.ma.us and guidestar at www2.guidestar.org. We also make our form 990, irs determination letter, form 990-t, articles of organization, and bylaws available to the public upon request. Our audited financial statements are also available on the official website of the attorney general of massachusetts at www.charities.ago.state.ma.us.

Filing and Contact Details

Filer

Filer Name
Lesley University
EIN
04-2103589
Phone
6173498685
Address
29 EVERETT STREET, CAMBRIDGE, MA 02138-2790

Signing Officer

Name
Bernice Bradin
Title
CFO, VP Finance
Phone
6173498685
Signed
2017-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Weiss
Formed
1909
Legal Domicile
Ma
Voting Board Members
26
Independent Board Members
24
Employees
2,010
Volunteers
172

Preparer

Firm
Cbiz Tofias
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Joseph M Giso
Phone
6177610600
Supplemental Narrative

Additional Explanations

LINE 4A CONTINUATION:

Core values inquiry: lesley university is devoted to academic excellence through active teaching, engaged learning, and individual student development. We design and deliver innovative, interdisciplinary academic programs that value inspired teachers, curious learners, relevant scholarship, and real-life application. Community: learning is an individual and collective endeavor that involves students, educators, families, and communities. We believe in the power of collaboration and its impact on personal and social development. Diversity: our community respects, values, and benefits from the individual, demographic and cultural differences of our students, faculty, and staff. As an academic community, our creativity, critical thinking, and problem-solving approaches are shaped by this diversity. Through their varied learning experiences, lesley students develop the tools to effectively interact with diverse populations and strive for social justice and equity. Citizenship: higher educational institutions have a responsibility to prepare their graduates to participate in the cultural, political and economic life of their community, nation and world. This democratic ideal is reflected in lesley's academic environment that encourages scholarship, freedom of expression, and the open exchange of ideas.

Financial Statement Notes

PART V, LINE 4:

The university's endowment consists of approximately 90 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the board of trustees to function as endowments. As required by gaap, net assets associated with endowment funds, including funds designated by the board of trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.

PART X, LINE 2:

The university accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The university has identified its tax status as a tax-exempt entity as its only significant tax position; however, the university has determined that such tax position does not result in an uncertainty requiring recognition. In addition, the university has identified certain minor tax positions with respect to certain of its activities that management did not consider material and, accordingly, such amounts were not recognized. The university's federal and state tax returns are generally open for examination for three years following the date filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 2,817,290.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 2,817,290.

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IRS990/ActivityOrMissionDesc0LESLEY UNIVERSITY ENGAGES STUDENTS IN TRANSFORMATIVE EDUCATION, THROUGH ACTIVE LEARNING, SCHOLARLY RESEARCH, DIVERSE FORMS OF ARTISTIC EXPRESSION, AND THE INTEGRATION OF RIGOROUS ACADEMICS WITH PRACTICAL, PROFESSIONAL EXPERIENCE, LEADING TO MEANINGFUL CAREERS AND CONTINUING LIFELONG LEARNING. LESLEY PREPARES SOCIALLY RESPONSIBLE GRADUATES WITH THE KNOWLEDGE, SKILLS, UNDERSTANDING AND ETHICAL JUDGMENT TO BE CATALYSTS SHAPING A MORE JUST, HUMANE, AND SUSTAINABLE WORLD.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$435$133$302$150$123$27.8
2023Detailed filing. Detailed filing data is available for this year.$423$147$275$118$117$0.91
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$423$159$264$114$120$5.93
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$460$156$304$127$108$18.5
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$418$158$260$117$125$8.29
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$422$148$274$134$128$5.98
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$400$126$274$122$123$0.76
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$400$129$271$125$118$6.89
2016Detailed filing. Detailed filing data is available for this year.$383$122$261$113$113$0.63
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$396$129$267$116$106$9.17
2014Detailed filing. Detailed filing data is available for this year.$398$135$263$122$119$2.99
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$356$117$239$129$123$5.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$339$120$218$121
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$344$122$222$117
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$317$116$201$110