Totals
- Total revenue
- $78,954,053
- Total expenses
- $92,945,178
- Contributions and grants received
- $3,571,383
- Grants paid
- $34,140,406
- Program service revenue
- $74,389,596
- Investment income
- $634,364
- Other revenue
- $358,710
- Total assets, end of year
- $119,807,608
- Total liabilities, end of year
- $70,780,667
- Net assets or fund balances, end of year
- $49,026,941
- Program services expenses (Part IX)
- $82,251,116
- Management and general expenses
- $7,814,848
- Fundraising expenses
- $2,879,214
- Program service expenses (Part III)
- $82,251,116
Program services were 88.5% 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)
$1,122,842
-
1f · All other contributions, gifts and grants
$2,448,541
-
1g · Noncash contributions included above
$50,753
-
2a · Program service revenue: TUITION & FEES
total $54,675,931 · related or exempt $54,675,931
-
2b · Program service revenue: ROOM & BOARD
total $15,637,917 · related or exempt $15,637,917
-
2c · Program service revenue: MGMT FEE/RENT FROM TAX-EXEMPT AFF
total $1,747,551 · related or exempt $1,747,551
-
2d · Program service revenue: CONNECTED LEARNING/ED.
total $1,297,629 · related or exempt $1,297,629
-
2e · Program service revenue: COLLABORATIONS WITH COLLEGES
total $150,000 · related or exempt $150,000
-
2f · All other program service revenue
total $880,568 · related or exempt $543,531 · excluded $337,037
-
3 · Investment income
total $1,771,850 · excluded $1,771,850
-
6a · Gross rents
real property $227,794
-
6b · Less rental expenses
real property $67,433
-
6c · Rental income or loss
real property $160,361
-
6d · Net rental income or loss
total $160,361 · excluded $160,361
-
7a · Gross sales of assets other than inventory
securities $37,713,780
-
7b · Less cost or other basis and sales expenses
securities $38,604,781 · other assets $246,485
-
7c · Gain or loss
securities -$891,001 · other assets -$246,485
-
7d · Net gain or loss
total -$1,137,486 · excluded -$1,137,486
-
8a · Fundraising events: gross income
$73,942
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $73,942 · excluded $73,942
-
10a · Gross sales of inventory
$38,810
-
10b · Cost of goods sold
$24,192
-
10c · Net income from sales of inventory
total $14,618 · excluded $14,618
-
11a · Other revenue: PUBLIC SAFETY DETAIL REVENUE
total $108,174 · related or exempt $108,174
-
11b · Other revenue: ALUMNI EVENTS
total $1,615 · related or exempt $1,615
-
11e · Other revenue, total
$109,789
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $33,696,271 · program services $33,696,271
-
3 · Grants to foreign organizations and individuals
total $444,135 · program services $444,135
-
5 · Compensation of officers, directors and key employees
total $1,409,079 · management and general $1,001,771 · fundraising $407,308
-
7 · Other salaries and wages
total $25,144,791 · program services $21,230,389 · management and general $2,502,149 · fundraising $1,412,253
-
8 · Pension plan contributions
total $1,087,993 · program services $827,509 · management and general $190,305 · fundraising $70,179
-
9 · Other employee benefits
total $3,170,273 · program services $2,536,233 · management and general $419,616 · fundraising $214,424
-
10 · Payroll taxes
total $1,799,684 · program services $1,407,010 · management and general $256,145 · fundraising $136,529
-
11b · Fees: legal
total $73,999 · management and general $73,999
-
11c · Fees: accounting
total $135,088 · management and general $135,088
-
11e · Fees: professional fundraising services
total $95,408 · fundraising $95,408
-
11f · Fees: investment management
total $159,221 · management and general $159,221
-
11g · Fees: other
total $1,961,688 · program services $1,301,677 · management and general $526,395 · fundraising $133,616
-
12 · Advertising and promotion
total $1,342,751 · program services $1,319,468 · management and general $23,283
-
13 · Office expenses
total $1,580,624 · program services $1,042,390 · management and general $357,702 · fundraising $180,532
-
14 · Information technology
total $1,546,754 · program services $316,730 · management and general $1,154,228 · fundraising $75,796
-
16 · Occupancy
total $5,685,108 · program services $5,409,692 · management and general $245,482 · fundraising $29,934
-
17 · Travel
total $683,739 · program services $657,576 · management and general $8,418 · fundraising $17,745
-
19 · Conferences, conventions and meetings
total $32,948 · program services $31,838 · management and general $1,110
-
20 · Interest
total $1,782,584 · program services $1,712,924 · management and general $69,604 · fundraising $56
-
22 · Depreciation, depletion and amortization
total $4,948,100 · program services $4,606,845 · management and general $309,266 · fundraising $31,989
-
23 · Insurance
total $708,152 · program services $686,284 · management and general $17,846 · fundraising $4,022
-
24a · Other expenses: CAFETERIA FOOD SERVICE
total $3,698,053 · program services $3,698,053
-
24b · Other expenses: MEALS AND ENTERTAINMENT
total $235,291 · program services $169,041 · management and general $21,887 · fundraising $44,363
-
24c · Other expenses: ANNUITY PAYMENTS
total $44,154 · management and general $44,154
-
24d · Other expenses: PROFESSIONAL DEVELOPMEN
total $21,788 · program services $17,710 · management and general $4,031 · fundraising $47
-
24e · All other expenses
total $1,457,502 · program services $1,139,341 · management and general $293,148 · fundraising $25,013
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $12,966 · end of year $7,205
-
2 · Savings and temporary cash investments
beginning of year $3,553,368 · end of year $4,384,634
-
3 · Pledges and grants receivable
beginning of year $888,311 · end of year $695,349
-
4 · Accounts receivable
beginning of year $1,135,838 · end of year $1,545,568
-
7 · Other notes and loans receivable
beginning of year $2,956 · end of year $20
-
9 · Prepaid expenses and deferred charges
beginning of year $889,105 · end of year $677,291
-
10a · Land, buildings and equipment: cost or other basis
$164,927,178
-
10b · Land, buildings and equipment: accumulated depreciation
$84,510,929
-
10c · Land, buildings and equipment, net
beginning of year $83,263,616 · end of year $80,416,249
-
11 · Investments: publicly traded securities
beginning of year $40,490,940 · end of year $27,772,085
-
12 · Investments: other securities
beginning of year $133,711 · end of year $139,737
-
15 · Other assets
beginning of year $3,737,902 · end of year $4,169,470
-
17 · Accounts payable and accrued expenses
beginning of year $5,569,592 · end of year $6,001,112
-
19 · Deferred revenue
beginning of year $6,085,172 · end of year $5,357,322
-
20 · Tax-exempt bond liabilities
beginning of year $60,131,199 · end of year $58,754,273
-
25 · Other liabilities
beginning of year $1,071,390 · end of year $667,960
-
27 · Net assets without donor restrictions
beginning of year $43,906,414 · end of year $31,303,249
-
28 · Net assets with donor restrictions
beginning of year $17,344,946 · end of year $17,723,692
Mission and programs · 2022
Mission
WE IMMERSE STUDENTS IN EXPERIENTIAL AND COLLABORATIVE LEARNING THAT FOSTERS LIFELONG INTELLECTUAL EXPLORATION AND SOCIAL RESPONSIBILITY.
-
LASELL UNIVERSITY IS A COMPREHENSIVE COEDUCATIONAL UNIVERSITY WHICH OFFERS PROFESSIONALLY ORIENTED BACHELOR'S AND MASTER'S DEGREE PROGRAMS, INCLUDING MORE THAN 25 ACADEMIC MAJORS.OUR STUDENTS ARE GIVEN THE OPPORTUNITY TO PRACTICE AND PREPARE FOR THE REAL WORLD THROUGH A PROJECT-BASED AND PROBLEM-BASED APPROACH TO TEACHING, THROUGH EXPOSURE TO DIVERSE CULTURES AND PEOPLES, THROUGH THE DEVELOPMENT OF CRITICAL SKILLS SUCH AS WRITING AND SPEAKING IN FRONT OF GROUPS, AND THROUGH CONFRONTATION WITH ETHICAL AND MORAL QUESTIONS.LASELL UNIVERSITY IS KNOWN FOR HELPING STUDENTS MAKE THE CONNECTION BETWEEN CLASSROOM LESSONS AND REAL LIFE THROUGH HANDS-ON ACTIVITIES SUCH AS INTERNSHIPS, PRACTICA, SERVICE LEARNING, AND MEANINGFUL PROJECTS. CONNECTED LEARNING AT LASELL UNIVERSITY INVOLVES STUDENTS DIRECTLY AND ACTIVELY IN THE FIELDS THEY ARE LEARNING. IN ALL MAJORS, STUDENTS EXPLORE REAL ISSUES, EVENTS, PROBLEMS, AND SOLUTIONS. LASELL UNIVERSITY FACULTY ARE COMMITTED TO CREATIVELY INTEGRATING CHALLENGING COURSEWORK WITH PRACTICAL EXPERIENCE IN AN ENVIRONMENT THAT FOSTERS LIFELONG INTELLECTUAL EXPLORATION, ACTIVE CITIZENSHIP AND SOCIAL RESPONSIBILTIY.
Expenses $81,353,553 · Grants $34,140,406 · Revenue $71,611,477
-
PROVIDED MANAGEMENT AND EDUCATIONAL SERVICES AND LEASED LAND TO LASELL VILLAGE, INC., A TAX-EXEMPT AFFILIATE, FUNCTIONS THAT ARE INTEGRAL TO THE CONDUCT OF THE EXEMPT FUNCTIONS OF LASELL VILLAGE, INC.
Expenses $676,952 · Revenue $1,747,551
-
PROVIDED FACILITIES FOR OTHER EDUCATIONAL ORGANIZATIONS TO CONDUCT EDUCATIONAL PROGRAMS AND TO PROVIDE HOUSING TO STUDENTS.
Expenses $191,977 · Revenue $389,902
-
PROVIDED COLLABORATIVE POLICE AND INFORMATION TECHNOLOGY SERVICES WITH ANOTHER LOCAL COLLEGE, FUNCTIONS THAT ARE INTEGRAL TO THE CONDUCT OF THE EXEMPT FUNCTIONS OF THAT COLLEGE, WITH THE GOAL OF PROVIDING QUALITY SERVICES TO EACH COLLEGE CAMPUS IN A COST EFFECTIVE MANNER.
Expenses $28,634 · Revenue $413,418
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Gerry DerocheGERRY DEROCHE
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lori HindleLORI HINDLE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Peter SchultePETER SCHULTE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Karl VasiloffKARL VASILOFF
CLERK
- Total calculated
- $0
- Hours/week
- 1
-
Rena ClarkRENA CLARK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael ConnorMICHAEL CONNOR
TRUSTEE (UNTIL 9/22)
- Total calculated
- $0
- Hours/week
- 1
-
John DoranJOHN DORAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Susan DunneSUSAN DUNNE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Carlos FonsecaCARLOS FONSECA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David HillDAVID HILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Keon HolmesKEON HOLMES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Brad KatesBRAD KATES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mercedes KelemenMERCEDES KELEMEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Debby MahoneyDEBBY MAHONEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Joe MaraiaJOE MARAIA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David McInnisDAVID MCINNIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John McKennaJOHN MCKENNA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Laurie PascalLAURIE PASCAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ubin PokharelUBIN POKHAREL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Heidi RaffoneHEIDI RAFFONE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Victoria RakovVICTORIA RAKOV
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bryan WardBRYAN WARD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Judith WittenbergJUDITH WITTENBERG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael Alexander Until 62023MICHAEL ALEXANDER UNTIL 62023
PRESIDENT
- Total calculated
- $755,925
- From this org
- $703,606
- From related orgs
- $0
- Other
- $52,319
- Hours/week
- 40 + 10 related
Schedule J breakdown matched by us
- Base
- $400,553
- Bonus
- $0
- Other
- $303,053
- Deferred
- $39,192
- Nontaxable benefits
- $13,127
- Filer's total
- $755,925
-
Henry PughHENRY PUGH
ASST CLERK, EXEC ASST TO PRESIDENT
- Total calculated
- $112,178
- From this org
- $78,199
- From related orgs
- $0
- Other
- $33,979
- Hours/week
- 40 + 1 related
-
Derek PintoDEREK PINTO
ASST TREASURER, VP ADMIN. SERVICES
- Total calculated
- $226,313
- From this org
- $215,456
- From related orgs
- $0
- Other
- $10,857
- Hours/week
- 40 + 10 related
Schedule J breakdown matched by us
- Base
- $215,058
- Bonus
- $0
- Other
- $398
- Deferred
- $0
- Nontaxable benefits
- $10,857
- Filer's total
- $226,313
-
Eric KnoxERIC KNOX
ASST. TREASURER / AVPFA & CONTROLLER
- Total calculated
- $175,355
- From this org
- $162,697
- From related orgs
- $0
- Other
- $12,658
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,923
- Bonus
- $0
- Other
- $774
- Deferred
- $12,202
- Nontaxable benefits
- $456
- Filer's total
- $175,355
-
Andrew MaylorANDREW MAYLOR
ASST TREAS, VP FINANCE & OPER & CFO
- Total calculated
- $10,861
- From this org
- $10,861
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 10 related
-
Eric TurnerERIC TURNER
VP ACADEMIC AFFAIRS / PROVOST
- Total calculated
- $276,698
- From this org
- $233,401
- From related orgs
- $0
- Other
- $43,297
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $231,115
- Bonus
- $0
- Other
- $2,286
- Deferred
- $5,000
- Nontaxable benefits
- $38,297
- Filer's total
- $276,698
-
Anne E Doyle Until 102022ANNE E DOYLE UNTIL 102022
VP, UNIVERSITY / PRES., VILLAGE
- Total calculated
- $280,511
- From this org
- $264,100
- From related orgs
- $0
- Other
- $16,411
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $197,503
- Bonus
- $30,000
- Other
- $36,597
- Deferred
- $15,519
- Nontaxable benefits
- $892
- Filer's total
- $280,511
-
Chrystal PorterCHRYSTAL PORTER
VP ENROLLMENT MANAGEMENT
- Total calculated
- $258,251
- From this org
- $208,562
- From related orgs
- $0
- Other
- $49,689
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $208,292
- Bonus
- $0
- Other
- $270
- Deferred
- $16,616
- Nontaxable benefits
- $33,073
- Filer's total
- $258,251
-
Chelsea GwytherCHELSEA GWYTHER
VP DEVELOPMENT AND ALUMNI RELATIONS
- Total calculated
- $270,734
- From this org
- $233,159
- From related orgs
- $0
- Other
- $37,575
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $232,745
- Bonus
- $0
- Other
- $414
- Deferred
- $17,487
- Nontaxable benefits
- $20,088
- Filer's total
- $270,734
-
Jennifer OkeeffeJENNIFER OKEEFFE
CHIEF OF STAFF AND GENERAL COUNSEL
- Total calculated
- $214,180
- From this org
- $188,024
- From related orgs
- $0
- Other
- $26,156
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,844
- Bonus
- $0
- Other
- $180
- Deferred
- $14,329
- Nontaxable benefits
- $11,827
- Filer's total
- $214,180
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 · Form 990 of other organizations
- 3 · Written employment contract
- 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 CALENDAR YEAR ENDED DECEMBER 31, 2022 THE UNIVERSITY PAID OUT THE RETIREMENT PLAN PURSUANT TO SECTION 457(F) OF THE INTERNAL REVENUE CODE TO MICHAEL ALEXANDER IN THE AMOUNT OF $289,745. THE AMOUNT IS INCLUDED AS REPORTABLE COMPENSATION.
- PART I, LINE 7
- AS DETAILED ON SCHEDULE J, PART II, BONUSES WERE AWARDED TO CERTAIN EMPLOYEES DURING THE YEAR. BONUSES WERE AWARDED AT THE DISCRETION OF THE PRESIDENT OF THE UNIVERSITY.
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · RESIDENTIAL CARE · MA
Directly controlled by LASELL INC
-
501(C)(3) · ADMINISTRATIVE SUPPORT · MA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER TRUSTS (2)
T · INVESTMENTS · MA · controlled entity
Directly controlled by LASELL UNIVERSITY
-
TRUST
T · INVESTMENTS · MA · 100% owned · share of assets $633,629 · controlled entity
Directly controlled by LASELL UNIVERSITY
-
TRUST
T · INVESTMENTS · MA · 100% owned · share of assets $1,322,520 · controlled entity
Directly controlled by LASELL UNIVERSITY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202441349349306799
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