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

THE UNIVERSITY PROVIDES SCHOLARSHIP ASSISTANCE TO QUALIFIED STUDENTS. MANY SCHOLARSHIPS ARE BASED ON CRITERIA SUCH AS ACADEMIC STRENGTH, ATHLETIC ABILITY, AND LEADERSHIP OR COMMUNITY SERVICE. NON-NEED-BASED SCHOLARSHIP FUNDING IS AWARDED THROUGH THE ADMISSIONS PROCESS AND USUALLY HAS A GRADE POINT AVERAGE (GPA) OR OTHER REQUIREMENT FOR RENEWAL IN SUBSEQUENT YEARS. TYPES OF MERIT SCHOLARSHIPS INCLUDE AWARDS RANGING FROM $10,000 TO $40,000 AND A LIMITED NUMBER OF FULL TUITION AWARDS. THE UNIVERSITY ALSO OFFERS NEED-BASED AID GRANT FUNDS THAT ARE AWARDED BASED ON FINANCIAL NEED AND DO NOT HAVE TO BE REPAID. THE OFFICE OF FINANCIAL ASSISTANCE DETERMINES THE TOTAL AMOUNT OF A STUDENT'S NEED-BASED GRANT FUNDING ACCORDING TO FEDERAL AND INSTITUTIONAL FORMULAS. TYPES OF NEED BASED GRANTS INCLUDE BENTLEY SCHOLARSHIPS, AS WELL AS FEDERAL AND STATE SOURCES. ALL SCHOLARSHIP AND NEED-BASED AID GRANT AMOUNTS ARE AUTOMATICALLY CREDITED TO THE INDIVIDUAL'S STUDENT ACCOUNT.

Program Service Accomplishments

Program 1
Expenses: $288,725,180 Revenue: $328,218,175

TUITION, FEES, AND AUXILIARYBENTLEY HAS BEEN EDUCATING BUSINESS-MINDED STUDENTS SINCE HARRY C. BENTLEY FIRST CONVENED 30 ACCOUNTING STUDENTS ON HUNTINGTON AVENUE IN BOSTON IN 1917. WE HAVE...

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TUITION, FEES, AND AUXILIARYBENTLEY HAS BEEN EDUCATING BUSINESS-MINDED STUDENTS SINCE HARRY C. BENTLEY FIRST CONVENED 30 ACCOUNTING STUDENTS ON HUNTINGTON AVENUE IN BOSTON IN 1917. WE HAVE CONTINUOUSLY ADAPTED TO BECOME ONE OF THE TOP BUSINESS UNIVERSITIES IN THE U.S., COMBINING BUSINESS WITH ARTS AND SCIENCE TO PREPARE SUCCESSFUL LEADERS WHO MAKE BUSINESS A FORCE FOR POSITIVE CHANGE. FACULTY ACROSS ALL DEPARTMENTS ARE COMMITTED TO ESTABLISHING EFFECTIVE TEACHING AND LEARNING RELATIONSHIPS WITH STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, WHILE SIMULTANEOUSLY PURSUING SCHOLARLY RESEARCH THAT CONTRIBUTES TO THEIR KNOWLEDGE AND THAT SUPPORTS THE UNIVERSITY'S TEACHING MISSION.SEE SCHEDULE O FOR CONTINUATIONTHE UNIVERSITY HAS MORE THAN 100 STUDENT ORGANIZATIONS THAT PROVIDE COUNTLESS OPPORTUNITIES FOR INVOLVEMENT, LEARNING AND LEADERSHIP. APPROXIMATELY 75% OF BENTLEY'S UNDERGRADUATE STUDENTS LIVE IN CAMPUS-PROVIDED HOUSING. RESIDENCE HALLS INCLUDE SINGLE, DOUBLE, TRIPLE, AND QUADRUPLE OCCUPANCY ROOMS AS WELL AS APARTMENTS AND SUITES. ALL OF THE RESIDENCE HALLS OFFER STUDENTS MODERN DAY AMENITIES. IN ADDITION, THE UNIVERSITY OFFERS RESIDENT STUDENTS SEVERAL DIFFERENT DINING OPTIONS FROM WHICH TO CHOOSE.

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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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