BENTLEY UNIVERSITY

EIN: 041081650 501(c)(3) Education

WALTHAM, MA

Total Revenue
$347,738,231
Total Expenses
$333,671,536
Total Assets
$753,030,083
Net Assets
$549,759,000
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Financial Trends

Organization Details

Formation Year
1917
Legal Domicile
MA
Principal Officer
E LABRENT CHRITE
Phone
7818912000
Tax Period
2022-07-01 to 2023-06-30

BENTLEY UNIVERSITY, founded in 1917, is a major nonprofit in the Education sector that reported $347.7M in total revenue in fiscal year 2022. Expenses of $333.7M left a modest 4% surplus.

Mission

FOR THE CONVENIENCE OF THE UNIVERSITY, THE UNIVERSITY PROVIDES ON CAMPUS HOUSING FOR ITS PRESIDENT. ESTIMATED RENTAL CHARGES FOR CALENDAR YEAR 2022, (01/01/2022-12/31/2022) ARE $50,443. THIS COST IS ALLOCATED TO THE PRESIDENT AS A NON TAXABLE BENEFIT IN COLUMN D. IN ADDITION, ESTIMATED PERSONAL COSTS RELATED TO HOUSE SERVICES ARE INCLUDED IN THE PRESIDENT'S TAXABLE INCOME. FROM TIME TO TIME, THE UNIVERSITY MAY PROVIDE CAR SERVICES TO THE PRESIDENT TO BE USED FOR BUSINESS PURPOSES. THE AMOUNT PAID FOR COMMERCIAL CAR SERVICES IS NOT INCLUDED IN THE PRESIDENT'S TAXABLE WAGES AS THE CAR SERVICE WAS USED ONLY TO CONDUCT UNIVERSITY BUSINESS. THE UNIVERSITY WILL OCCASIONALLY APPROVE FIRST CLASS TRAVEL FOR TRUSTEES OR OFFICERS WHEN THE TRAVEL IS WITHIN THE GUIDELINES OF THE UNIVERSITY'S TRAVEL POLICY. THE PRESIDENT'S SPOUSE TRAVELS OCCASIONALLY WITH THE PRESIDENT WHEN NECESSARY FOR BUSINESS PURPOSES. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED AS TAXABLE INCOME.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $10,288,000
Program Service Revenue $327,178,000
Investment Income $9,232,056
Other Revenue $1,040,175
TOTAL REVENUE $347,738,231

Expense Breakdown

Grants Paid $105,894,107
Salaries & Benefits $139,493,670
Fundraising Expenses $5,346,437
Program Expenses $288,725,180
Other Expenses $88,109,389
TOTAL EXPENSES $333,671,536

Year-over-Year Comparison

2022 2021 Change
Revenue $347,738,231 $351,890,044 0.0%
Expenses $333,671,536 $324,385,109 +0.0%
Net Income $14,066,695 $27,504,935 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
20
Employees
2730
Volunteers
250

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
15
$4,542,211
Total Directors
21
$973,152
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
E LABRENT CHRITE PRESIDENT/TRUSTEE 50.00
Officer Director
$840,499 $132,653 $973,152
J PAUL CONDRIN III CHAIR 8.00
Officer Director
$0 $0 $0
DAVID L GIUNTA VICE CHAIR 8.00
Officer Director
$0 $0 $0
ROBERT E ALAN TRUSTEE 2.00
Director
$0 $0 $0
THOMAS P ALBER TRUSTEE 2.00
Director
$0 $0 $0
KEVIN F ARMATA TRUSTEE 1.00
Director
$0 $0 $0
PAULINE CALLENDER HAN TRUSTEE 1.00
Director
$0 $0 $0
STEPHEN L DELVECCHIO TRUSTEE 2.00
Director
$0 $0 $0
JOYCE J ELAM TRUSTEE 2.00
Director
$0 $0 $0
DANIEL FARLEY TRUSTEE 2.00
Director
$0 $0 $0
MELANIE FOLEY TRUSTEE 2.00
Director
$0 $0 $0
STEVEN C MILLNER TRUSTEE 1.00
Director
$0 $0 $0
LEBONE C MOSES TRUSTEE 1.00
Director
$0 $0 $0
SUSAN G O'CONNELL TRUSTEE 2.00
Director
$0 $0 $0
MELANIE OTERO TRUSTEE 1.00
Director
$0 $0 $0
BILL PAPPAS TRUSTEE 2.00
Director
$0 $0 $0
GORDON E PULSIFER TRUSTEE 1.00
Director
$0 $0 $0
DEBORA L SPAR TRUSTEE 1.00
Director
$0 $0 $0
NIKOLAS STAVROPOULOS TRUSTEE 2.00
Director
$0 $0 $0
TIFFANY R WARREN TRUSTEE 1.00
Director
$0 $0 $0
BRIAN T ZINO TRUSTEE 2.00
Director
$0 $0 $0
MAUREEN FORRESTER VP, CFO/TREASURER 50.00
Officer
$420,269 $51,183 $471,452
CAROLINA FIGUEROA VP, ENROLLMENT MANAGEMENT 50.00
Officer
$345,763 $52,150 $397,913
J ANDREW SHEPARDSON VP, STUDENT AFFAIRS & DEAN 50.00
Officer
$318,400 $51,117 $369,517
JUDITH MALONE VP/GENERAL COUNSEL & SECRETARY 50.00
Officer
$311,162 $50,060 $361,222
RICK OCHES DEAN OF ARTS & SCIENCES; PROF 50.00
Officer
$320,397 $37,459 $357,856
GEORGE CANGIANO VP, HUMAN RESOURCES 50.00
Officer
$282,746 $49,085 $331,831
ELIZABETH HESS VP & CIO 50.00
Officer
$292,716 $29,332 $322,048
CHRISTOPHER J JOYCE VP, MARKETING & COMM. 50.00
Officer
$269,735 $34,447 $304,182
KATHERINE LAMPLEY VP, DIV/INCLUSION 50.00
Officer
$214,117 $21,660 $235,777
PAUL TESLUK PROVOST/VP, ACA AFF (EFF 8/22) 50.00
Officer
$189,856 $23,627 $213,483
SEAN FERGUSON VP, STRATEGY/INNOV. (EFF 9/22) 50.00
Officer
$91,893 $16,183 $108,076
CHRIS GRUGAN VP, ADVANCEMENT (EFF 11/22) 50.00
Officer
$89,684 $6,018 $95,702
M LYNNE MARKUS PROFESSOR 50.00
Highest
$405,640 $37,407 $443,047
RANI HOITASH PROFESSOR 50.00
Highest
$378,019 $51,160 $429,179
DONNA MARIA BLANCERO PROFESSOR; FORMER PROVOST 50.00
Highest
$373,792 $50,140 $423,932
MICHAEL PAGE PROFESSOR 50.00
Highest
$364,047 $37,470 $401,517
MARTIN CONYON PROFESSOR 50.00
Highest
$347,083 $50,122 $397,205
NANCY ANTUNES FORMER INTERIM CFO 50.00
$256,513 $47,946 $304,459
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $347,738,231 $333,671,536 $753,030,083 $14,066,695
2022 $351,890,044 $324,385,109 $744,363,755 $27,504,935
2021 $292,278,614 $286,716,099 $756,187,665 $5,562,515
2020 $316,624,866 $307,270,122 $681,081,992 $9,354,744
2019 $319,427,667 $313,661,106 $657,775,151 $5,766,561
2018 $315,595,570 $307,596,196 $652,580,000 $7,999,374
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