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Nonprofiteer
← MCPHS UNIVERSITY

Form 990 for tax year 2022

Filed by MCPHS UNIVERSITY.

Totals

Total revenue
$342,287,085
Total expenses
$284,766,135
Contributions and grants received
$9,356,392
Grants paid
$69,673,730
Program service revenue
$296,016,435
Investment income
$32,126,619
Other revenue
$4,787,639
Total assets, end of year
$2,010,373,778
Total liabilities, end of year
$142,594,304
Net assets or fund balances, end of year
$1,867,779,474
Program services expenses (Part IX)
$257,277,663
Management and general expenses
$26,094,101
Fundraising expenses
$1,394,371
Program service expenses (Part III)
$257,277,663

Program services were 90.3% 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)

    $8,062,142

  • 1f · All other contributions, gifts and grants

    $1,294,250

  • 2a · Program service revenue: TUITION AND FEES

    total $265,652,357 · related or exempt $265,652,357

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

    total $17,975,670 · related or exempt $17,975,670

  • 2c · Program service revenue: RESEARCH GRANTS

    total $11,118,621 · related or exempt $11,118,621

  • 2d · Program service revenue: OTHER REVENUES

    total $1,211,091 · related or exempt $1,211,091

  • 2e · Program service revenue: CONTINUING EDUCATION

    total $58,696 · related or exempt $58,696

  • 3 · Investment income

    total $39,867,624 · unrelated business $237,405 · excluded $39,630,219

  • 6a · Gross rents

    real property $7,573,337

  • 6b · Less rental expenses

    real property $2,785,698

  • 6c · Rental income or loss

    real property $4,787,639

  • 6d · Net rental income or loss

    total $4,787,639 · excluded $4,787,639

  • 7a · Gross sales of assets other than inventory

    securities $300,195,604

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

    securities $307,936,609

  • 7c · Gain or loss

    securities -$7,741,005

  • 7d · Net gain or loss

    total -$7,741,005 · unrelated business $543,873 · excluded -$8,284,878

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $69,673,730 · program services $69,673,730

  • 5 · Compensation of officers, directors and key employees

    total $5,492,665 · program services $1,165,087 · management and general $4,327,578

  • 7 · Other salaries and wages

    total $104,627,540 · program services $98,744,773 · management and general $5,172,910 · fundraising $709,857

  • 8 · Pension plan contributions

    total $7,701,788 · program services $7,160,573 · management and general $475,908 · fundraising $65,307

  • 9 · Other employee benefits

    total $16,520,134 · program services $15,520,645 · management and general $899,751 · fundraising $99,738

  • 10 · Payroll taxes

    total $7,433,963 · program services $6,695,956 · management and general $686,277 · fundraising $51,730

  • 11b · Fees: legal

    total $270,895 · management and general $270,895

  • 11c · Fees: accounting

    total $207,102 · management and general $207,102

  • 11f · Fees: investment management

    total $3,737,749 · management and general $3,737,749

  • 11g · Fees: other

    total $2,852,888 · program services $2,473,425 · management and general $325,060 · fundraising $54,403

  • 12 · Advertising and promotion

    total $1,592,962 · program services $1,592,962

  • 13 · Office expenses

    total $570,673 · program services $483,292 · management and general $48,887 · fundraising $38,494

  • 14 · Information technology

    total $6,292,271 · program services $5,746,647 · management and general $470,859 · fundraising $74,765

  • 16 · Occupancy

    total $20,110,054 · program services $18,090,642 · management and general $1,986,373 · fundraising $33,039

  • 17 · Travel

    total $1,140,681 · program services $1,041,694 · management and general $93,249 · fundraising $5,738

  • 19 · Conferences, conventions and meetings

    total $2,755,642 · program services $2,204,009 · management and general $520,788 · fundraising $30,845

  • 20 · Interest

    total $2,048,260 · program services $1,730,080 · management and general $295,162 · fundraising $23,018

  • 22 · Depreciation, depletion and amortization

    total $12,049,352 · program services $10,287,359 · management and general $1,634,523 · fundraising $127,470

  • 23 · Insurance

    total $1,122,144 · management and general $1,122,144

  • 24a · Other expenses: INSTITUTIONAL STIPENDS

    total $4,978,363 · program services $4,978,363

  • 24b · Other expenses: STUDENT MEAL PLANS

    total $2,141,043 · program services $2,141,043

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

    total $1,596,142 · program services $1,596,142

  • 24d · Other expenses: CLASSROOM SUPPLIES

    total $1,393,087 · program services $1,393,087

  • 24e · All other expenses

    total $8,457,007 · program services $4,558,154 · management and general $3,818,886 · fundraising $79,967

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,199 · end of year $14,913

  • 2 · Savings and temporary cash investments

    beginning of year $42,113,761 · end of year $74,132,343

  • 3 · Pledges and grants receivable

    beginning of year $17,594 · end of year $4,512

  • 4 · Accounts receivable

    beginning of year $4,328,891 · end of year $3,964,024

  • 7 · Other notes and loans receivable

    beginning of year $9,486,326 · end of year $9,311,357

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,406,082 · end of year $6,846,458

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

    $375,794,034

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

    $196,660,144

  • 10c · Land, buildings and equipment, net

    beginning of year $185,802,639 · end of year $179,133,890

  • 11 · Investments: publicly traded securities

    beginning of year $846,693,002 · end of year $845,398,639

  • 12 · Investments: other securities

    beginning of year $665,583,634 · end of year $830,815,069

  • 15 · Other assets

    beginning of year $67,256,119 · end of year $60,752,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,955,550 · end of year $15,927,620

  • 19 · Deferred revenue

    beginning of year $17,997,993 · end of year $17,859,386

  • 20 · Tax-exempt bond liabilities

    beginning of year $58,011,492 · end of year $53,681,835

  • 25 · Other liabilities

    beginning of year $62,759,794 · end of year $55,125,463

  • 27 · Net assets without donor restrictions

    beginning of year $1,631,794,235 · end of year $1,822,923,413

  • 28 · Net assets with donor restrictions

    beginning of year $41,183,183 · end of year $44,856,061

Mission and programs · 2022

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 $241,581,131 · Grants $69,673,730 · Revenue $277,982,069

  • THE UNIVERSITY PROVIDED RESIDENCE HALL ACCOMODATIONS FOR STUDENTS.

    Expenses $15,398,667 · Revenue $17,975,670

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

    Expenses $297,865 · Revenue $58,696

As filed on the 2022 return.

Listed in Part VII

  • CAROL BRIGHT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • GAIL P BUCHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • LAURA CHAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • MARIE DYER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • CHRISTOPHER FLYNN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • MARYESTHER L FOURNIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • RICHARD E GRIFFIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • EMERY W JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • GARY J KERR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • DAVID L MAHER

    EX-OFFICIO TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • MICHAEL SEARVANCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • HEIDI SNYDER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • KAREN TUBRIDY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • LESLEY L WALLS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • RICHARD J LESSARD

    PRESIDENT

    Total calculated
    $1,550,015
    From this org
    $1,249,932
    From related orgs
    $0
    Other
    $300,083
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $817,000
    Bonus
    $405,000
    Other
    $27,932
    Deferred
    $280,500
    Nontaxable benefits
    $19,583
    Filer's total
    $1,550,015

  • CAROLINE ZEIND

    VPAA - PROVOST

    Total calculated
    $877,014
    From this org
    $714,160
    From related orgs
    $0
    Other
    $162,854
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $468,300
    Bonus
    $243,000
    Other
    $2,860
    Deferred
    $144,320
    Nontaxable benefits
    $18,534
    Filer's total
    $877,014

  • KEITH A BELLUCCI

    CHIEF FINANCIAL OFFICER

    Total calculated
    $745,406
    From this org
    $593,826
    From related orgs
    $0
    Other
    $151,580
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $390,450
    Bonus
    $202,000
    Other
    $1,376
    Deferred
    $125,180
    Nontaxable benefits
    $26,400
    Filer's total
    $745,406

  • THOMAS A SCANLON

    CHIEF INFORMATION OFFICER

    Total calculated
    $499,297
    From this org
    $451,403
    From related orgs
    $0
    Other
    $47,894
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $50,000
    Other
    $1,403
    Deferred
    $29,800
    Nontaxable benefits
    $18,094
    Filer's total
    $499,297

  • KEVIN M DOLAN

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $374,218
    From this org
    $328,536
    From related orgs
    $0
    Other
    $45,682
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $277,500
    Bonus
    $50,000
    Other
    $1,036
    Deferred
    $27,750
    Nontaxable benefits
    $17,932
    Filer's total
    $374,218

  • ROBERT DICENZO

    DEAN

    Total calculated
    $335,737
    From this org
    $312,619
    From related orgs
    $0
    Other
    $23,118
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $311,500
    Bonus
    $0
    Other
    $1,119
    Deferred
    $5,150
    Nontaxable benefits
    $17,968
    Filer's total
    $335,737

  • ASHLEIGH C JONES

    CHIEF BUSINESS OFFICER

    Total calculated
    $350,080
    From this org
    $295,970
    From related orgs
    $0
    Other
    $54,110
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $255,000
    Bonus
    $40,000
    Other
    $970
    Deferred
    $25,500
    Nontaxable benefits
    $28,610
    Filer's total
    $350,080

  • SUSAN L GORMAN

    CHIEF ADVANCEMENT OFFICER

    Total calculated
    $332,706
    From this org
    $287,278
    From related orgs
    $0
    Other
    $45,428
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $273,796
    Bonus
    $10,000
    Other
    $3,482
    Deferred
    $27,500
    Nontaxable benefits
    $17,928
    Filer's total
    $332,706

  • ERIC THOMPSON

    CHIEF ENROLLMENT OFFICER

    Total calculated
    $305,015
    From this org
    $270,937
    From related orgs
    $0
    Other
    $34,078
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $245,000
    Bonus
    $25,000
    Other
    $937
    Deferred
    $24,500
    Nontaxable benefits
    $9,578
    Filer's total
    $305,015

  • CHARLES BRECKLING

    CHIEF DIGITAL MARKETING OFFICER

    Total calculated
    $403,089
    From this org
    $344,724
    From related orgs
    $0
    Other
    $58,365
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $323,550
    Bonus
    $20,000
    Other
    $1,174
    Deferred
    $29,645
    Nontaxable benefits
    $28,720
    Filer's total
    $403,089

  • TAMMY GRAVEL

    DEAN

    Total calculated
    $338,060
    From this org
    $281,547
    From related orgs
    $0
    Other
    $56,513
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $280,500
    Bonus
    $0
    Other
    $1,047
    Deferred
    $28,050
    Nontaxable benefits
    $28,463
    Filer's total
    $338,060

  • KEVIN M MCGOVERN

    SOFTWARE DIRECTOR

    Total calculated
    $358,967
    From this org
    $311,035
    From related orgs
    $0
    Other
    $47,932
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $310,128
    Bonus
    $0
    Other
    $907
    Deferred
    $29,608
    Nontaxable benefits
    $18,324
    Filer's total
    $358,967

  • DELIA M ANDERSON

    DEAN

    Total calculated
    $327,842
    From this org
    $280,980
    From related orgs
    $0
    Other
    $46,862
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $279,935
    Bonus
    $0
    Other
    $1,045
    Deferred
    $27,994
    Nontaxable benefits
    $18,868
    Filer's total
    $327,842

  • ANNA MORIN

    ASSOCIATE PROVOST

    Total calculated
    $314,516
    From this org
    $268,877
    From related orgs
    $0
    Other
    $45,639
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $267,868
    Bonus
    $0
    Other
    $1,009
    Deferred
    $26,787
    Nontaxable benefits
    $18,852
    Filer's total
    $314,516

  • STEPHEN KERR

    FMR. INTERIM DEAN/CURRENT PROFESSOR

    Total calculated
    $278,767
    From this org
    $227,603
    From related orgs
    $0
    Other
    $51,164
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $226,721
    Bonus
    $0
    Other
    $882
    Deferred
    $22,572
    Nontaxable benefits
    $28,592
    Filer's total
    $278,767

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 AND VICE PRESIDENT 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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441369349305549

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