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Nonprofiteer
← MCPHS UNIVERSITY

Form 990 for tax year 2024

Filed by MCPHS UNIVERSITY.

Totals

Total revenue
$456,475,330
Total expenses
$303,181,639
Contributions and grants received
$3,811,906
Grants paid
$68,167,812
Program service revenue
$301,883,302
Investment income
$145,778,155
Other revenue
$5,001,967
Total assets, end of year
$2,452,106,199
Total liabilities, end of year
$143,991,684
Net assets or fund balances, end of year
$2,308,114,515
Program services expenses (Part IX)
$274,745,413
Management and general expenses
$27,328,775
Fundraising expenses
$1,107,451
Program service expenses (Part III)
$274,745,413

Program services were 90.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,767,550

  • 1f · All other contributions, gifts and grants

    $1,044,356

  • 2a · Program service revenue: TUITION AND FEES

    total $264,721,778 · related or exempt $264,721,778

  • 2b · Program service revenue: ROOM AND BOARD REVENUE

    total $20,030,317 · related or exempt $20,030,317

  • 2c · Program service revenue: RESEARCH GRANTS

    total $14,451,819 · related or exempt $14,451,819

  • 2d · Program service revenue: OTHER REVENUES

    total $2,639,776 · related or exempt $2,639,776

  • 2e · Program service revenue: CONTINUING EDUCATION

    total $39,612 · related or exempt $39,612

  • 3 · Investment income

    total $45,181,283 · unrelated business -$149,604 · excluded $45,330,887

  • 6a · Gross rents

    real property $8,209,873

  • 6b · Less rental expenses

    real property $3,207,906

  • 6c · Rental income or loss

    real property $5,001,967

  • 6d · Net rental income or loss

    total $5,001,967 · excluded $5,001,967

  • 7a · Gross sales of assets other than inventory

    securities $398,342,228

  • 7b · Less cost or other basis and sales expenses

    securities $297,745,356

  • 7c · Gain or loss

    securities $100,596,872

  • 7d · Net gain or loss

    total $100,596,872 · unrelated business $239 · excluded $100,596,633

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $68,167,812 · program services $68,167,812

  • 5 · Compensation of officers, directors and key employees

    total $6,224,469 · program services $1,492,932 · management and general $4,652,477 · fundraising $79,060

  • 7 · Other salaries and wages

    total $116,809,368 · program services $109,468,228 · management and general $6,882,058 · fundraising $459,082

  • 8 · Pension plan contributions

    total $9,004,108 · program services $8,343,406 · management and general $619,385 · fundraising $41,317

  • 9 · Other employee benefits

    total $20,072,335 · program services $17,795,123 · management and general $2,146,044 · fundraising $131,168

  • 10 · Payroll taxes

    total $8,413,953 · program services $7,538,983 · management and general $832,576 · fundraising $42,394

  • 11b · Fees: legal

    total $707,934 · management and general $707,934

  • 11c · Fees: accounting

    total $208,134 · management and general $208,134

  • 11f · Fees: investment management

    total $1,397,177 · management and general $1,397,177

  • 11g · Fees: other

    total $3,517,331 · program services $3,203,875 · management and general $284,548 · fundraising $28,908

  • 12 · Advertising and promotion

    total $1,774,114 · program services $1,774,114

  • 13 · Office expenses

    total $469,218 · program services $415,102 · management and general $43,591 · fundraising $10,525

  • 14 · Information technology

    total $6,431,270 · program services $5,893,921 · management and general $496,382 · fundraising $40,967

  • 16 · Occupancy

    total $22,331,668 · program services $20,327,889 · management and general $1,973,431 · fundraising $30,348

  • 17 · Travel

    total $1,596,814 · program services $1,488,955 · management and general $107,859

  • 19 · Conferences, conventions and meetings

    total $3,277,587 · program services $2,487,948 · management and general $692,860 · fundraising $96,779

  • 20 · Interest

    total $1,824,359 · program services $1,497,104 · management and general $314,163 · fundraising $13,092

  • 22 · Depreciation, depletion and amortization

    total $12,651,831 · program services $10,827,713 · management and general $1,738,706 · fundraising $85,412

  • 23 · Insurance

    total $1,209,396 · management and general $1,209,396

  • 24a · Other expenses: INSTITUTIONAL STIPENDS

    total $4,445,144 · program services $4,445,144

  • 24b · Other expenses: CLASSROOM SUPPLIES

    total $2,633,043 · program services $2,633,043

  • 24c · Other expenses: STUDENT MEAL PLANS

    total $2,346,993 · program services $2,346,993

  • 24d · Other expenses: COVID-19 COSTS/CARES

    total $34,676 · program services $34,676

  • 24e · All other expenses

    total $7,632,905 · program services $4,562,452 · management and general $3,022,054 · fundraising $48,399

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,586 · end of year $5,646

  • 2 · Savings and temporary cash investments

    beginning of year $87,860,820 · end of year $102,318,650

  • 4 · Accounts receivable

    beginning of year $2,487,820 · end of year $2,557,182

  • 7 · Other notes and loans receivable

    beginning of year $8,897,326 · end of year $8,628,921

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,375,883 · end of year $7,014,703

  • 10a · Land, buildings and equipment: cost or other basis

    $400,714,410

  • 10b · Land, buildings and equipment: accumulated depreciation

    $221,770,093

  • 10c · Land, buildings and equipment, net

    beginning of year $182,098,623 · end of year $178,944,317

  • 11 · Investments: publicly traded securities

    beginning of year $868,306,597 · end of year $1,011,192,319

  • 12 · Investments: other securities

    beginning of year $1,001,960,674 · end of year $1,074,489,509

  • 15 · Other assets

    beginning of year $74,155,548 · end of year $66,954,952

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,444,142 · end of year $18,167,062

  • 19 · Deferred revenue

    beginning of year $17,814,617 · end of year $21,038,462

  • 20 · Tax-exempt bond liabilities

    beginning of year $49,245,178 · end of year $44,685,522

  • 25 · Other liabilities

    beginning of year $68,249,566 · end of year $60,100,638

  • 27 · Net assets without donor restrictions

    beginning of year $2,029,947,294 · end of year $2,253,540,305

  • 28 · Net assets with donor restrictions

    beginning of year $49,449,080 · end of year $54,574,210

Mission and programs · 2024

Mission

MCPHS UNIVERSITY PREPARES STUDENTS FOR CAREERS IN HEALTH CARE THROUGH TEACHING, SCHOLARSHIP, RESEARCH, PROFESSIONAL SERVICE AND COMMUNITY ENGAGEMENT.

Activities or mission (Part I)

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.

  • THE UNIVERSITY PROVIDED EDUCATIONAL PROGRAMS TO STUDENTS PURSUING UNDERGRADUATE AND GRADUATE DEGREES IN PHARMACY AND HEALTH SCIENCE DISCIPLINES.

    Expenses $258,123,963 · Grants $68,167,812 · Revenue $281,813,373

  • THE UNIVERSITY PROVIDED RESIDENCE HALL ACCOMODATIONS FOR STUDENTS.

    Expenses $16,237,683 · Revenue $20,030,317

  • THE UNIVERSITY PROVIDED CONTINUING EDUCATION COURSES AND PROGRAMS FOR PHARMACISTS AND OTHER HEALTH CARE PROFESSIONALS.

    Expenses $383,767 · Revenue $39,612

As filed on the 2024 return.

Listed in Part VII

  • Heidi Snyder

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Richard E Griffin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Michael Searvance

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Maryesther L Fournier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Marie Dyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Lesley L Walls

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Laura Chan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Carol Bright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Gary J Kerr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Gail P Bucher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Karen Tubridy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Emery W Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • David L Maher

    EX-OFFICIO TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Christopher Flynn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Richard J Lessard

    PRESIDENT

    Total calculated
    $1,790,552
    From this org
    $1,358,888
    From related orgs
    $0
    Other
    $431,664
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $901,000
    Bonus
    $405,000
    Other
    $52,888
    Deferred
    $409,500
    Nontaxable benefits
    $22,164
    Filer's total
    $1,790,552

  • Caroline Zeind

    VPAA - PROVOST

    Total calculated
    $948,231
    From this org
    $765,817
    From related orgs
    $0
    Other
    $182,414
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $516,500
    Bonus
    $244,000
    Other
    $5,317
    Deferred
    $160,250
    Nontaxable benefits
    $22,164
    Filer's total
    $948,231

  • Keith A Bellucci

    CHIEF FINANCIAL OFFICER

    Total calculated
    $810,106
    From this org
    $638,935
    From related orgs
    $0
    Other
    $171,171
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $432,500
    Bonus
    $203,000
    Other
    $3,435
    Deferred
    $139,550
    Nontaxable benefits
    $31,621
    Filer's total
    $810,106

  • Thomas A Scanlon

    CHIEF INFORMATION OFFICER

    Total calculated
    $543,506
    From this org
    $488,615
    From related orgs
    $0
    Other
    $54,891
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $433,500
    Bonus
    $50,000
    Other
    $5,115
    Deferred
    $33,850
    Nontaxable benefits
    $21,041
    Filer's total
    $543,506

  • Robert Dicenzo

    DEAN

    Total calculated
    $443,773
    From this org
    $388,979
    From related orgs
    $0
    Other
    $54,794
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $384,010
    Bonus
    $0
    Other
    $4,969
    Deferred
    $33,753
    Nontaxable benefits
    $21,041
    Filer's total
    $443,773

  • Kevin M Dolan

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $426,108
    From this org
    $374,067
    From related orgs
    $0
    Other
    $52,041
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $310,000
    Bonus
    $60,000
    Other
    $4,067
    Deferred
    $31,000
    Nontaxable benefits
    $21,041
    Filer's total
    $426,108

  • Susan L Gorman

    CHIEF ADVANCEMENT OFFICER

    Total calculated
    $369,263
    From this org
    $318,422
    From related orgs
    $0
    Other
    $50,841
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $298,000
    Bonus
    $15,000
    Other
    $5,422
    Deferred
    $29,800
    Nontaxable benefits
    $21,041
    Filer's total
    $369,263

  • Eric Thompson

    CHIEF ENROLLMENT OFFICER

    Total calculated
    $356,098
    From this org
    $316,265
    From related orgs
    $0
    Other
    $39,833
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $287,500
    Bonus
    $25,000
    Other
    $3,765
    Deferred
    $28,750
    Nontaxable benefits
    $11,083
    Filer's total
    $356,098

  • Ashleigh C Jones

    CHIEF BUSINESS OFFICER

    Total calculated
    $398,894
    From this org
    $337,433
    From related orgs
    $0
    Other
    $61,461
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $275,808
    Bonus
    $60,000
    Other
    $1,625
    Deferred
    $27,581
    Nontaxable benefits
    $33,880
    Filer's total
    $398,894

  • Charles Breckling

    CHIEF DIGITAL MARKETING OFFICER

    Total calculated
    $448,200
    From this org
    $380,620
    From related orgs
    $0
    Other
    $67,580
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $351,000
    Bonus
    $25,000
    Other
    $4,620
    Deferred
    $33,700
    Nontaxable benefits
    $33,880
    Filer's total
    $448,200

  • Kevin M McGovern

    SOFTWARE DIRECTOR

    Total calculated
    $399,765
    From this org
    $345,263
    From related orgs
    $0
    Other
    $54,502
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $334,612
    Bonus
    $0
    Other
    $10,651
    Deferred
    $33,461
    Nontaxable benefits
    $21,041
    Filer's total
    $399,765

  • Tammy Gravel

    DEAN

    Total calculated
    $373,135
    From this org
    $308,916
    From related orgs
    $0
    Other
    $64,219
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $303,389
    Bonus
    $0
    Other
    $5,527
    Deferred
    $30,339
    Nontaxable benefits
    $33,880
    Filer's total
    $373,135

  • Delia M Anderson

    DEAN

    Total calculated
    $365,182
    From this org
    $312,740
    From related orgs
    $0
    Other
    $52,442
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $302,779
    Bonus
    $0
    Other
    $9,961
    Deferred
    $30,278
    Nontaxable benefits
    $22,164
    Filer's total
    $365,182

  • Frederick Frankhauser

    PROFESSOR

    Total calculated
    $382,354
    From this org
    $324,517
    From related orgs
    $0
    Other
    $57,837
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $287,567
    Bonus
    $0
    Other
    $36,950
    Deferred
    $23,957
    Nontaxable benefits
    $33,880
    Filer's total
    $382,354

  • Stephen Kerr

    FMR. INTERIM DEAN/CURR. ASSOC. PROVOST

    Total calculated
    $312,532
    From this org
    $264,399
    From related orgs
    $0
    Other
    $48,133
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $259,692
    Bonus
    $0
    Other
    $4,707
    Deferred
    $25,969
    Nontaxable benefits
    $22,164
    Filer's total
    $312,532

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

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.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349312001

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