2026-03-13T06:36:07-05:00 2025-06-30 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2024-07-01 042104778 NICHOLS COLLEGE NICH 5082131560 CENTER ROAD PO BOX 5000 DUDLEY MA 015715000 JAMIE BAMBER CFO 5082132131 2026-01-30 1 0 JAMES JOHNSTON P02149189 5087557107 2026-01-30 2024 2025-03-06 01:10:19Z JAMIE BAMBER CENTER ROAD PO BOX 5000 DUDLEY MA 01571 73756505 0 X WWW.NICHOLS.EDU X 1815 MA NICHOLS COLLEGE IS COMMITTED TO PROVIDING THE BEST CAREER-FOCUSED BUSINESS EDUCATION IN NEW ENGLAND. MORE THAN 94 PERCENT OF GRADUATES ARE EMPLOYED IN WORK RELATED TO THEIR MAJOR.A DYNAMIC BUSINESS PROGRAM IS PARALLELED BY COMPREHENSIVE PROGRAMS IN THE LIBERAL ARTS. ON THE GRADUATE LEVEL, THIS INCLUDES NICHOLS MBA AND MASTER OF SCIENCE DEGREES IN ACCOUNTING, ORGANIZATIONAL LEADERSHIP AND COUNTERTERRORISM, IN ADDITION, ACCELERATED AND ONLINE FORMATS ARE OFFERRED TO ADULT POPULATIONS. THE FRIENDLY, NURTURING CAMPUS IN DUDLEY, MASS. OFFERS A BROAD SPECTRUM OF CO-CURRICULAR ACTIVITIES AND A FULL RANGE OF ATHLETIC OPPORTUNITIES. 29 29 738 110 0 0 2144858 3389002 56828568 61164492 2107139 220518 -5083 -21877 61075482 64752135 22839017 25063220 0 0 20617277 21325608 0 0 945146 22236054 21938891 65692348 68327719 -4616866 -3575584 114285033 108811740 28131733 22635109 86153300 86176631 X NICHOLS COLLEGE STRIVES TO DEVELOP TOMORROW'S LEADERS THROUGH A DYNAMIC, CAREER-FOCUSED BUSINESS EDUCATION. THE COLLEGE TRANSFORMS STUDENTS INTO SUCCESSFUL GRADUATES WHO RESPOND TO CHALLENGES, ARE EAGER FOR RESPONSIBILITY, AND ASSUME SIGNIFICANT ROLES IN THE GLOBAL ECONOMY. THE NICHOLS EXPERIENCE HAPPENS IN A WELCOMING ENVIRONMENT WHERE STUDENTS ARE ENCOURAGED TO LEARN AND GROW UNDER THE GUIDANCE OF MENTORING FACULTY AND STAFF COMMITTED TO STUDENT SUCCESS. 0 0 58531292 25063220 61164492 NICHOLS COLLEGE PROVIDES EDUCATION TO APPROXIMATELY 2,000 DEGREE-SEEKING STUDENTS INCLUDING 1,072 FULL TIME STUDENTS, LEADING TO ASSOCIATES, BACHELORS, AND MASTERS DEGREES, PRIMARILY IN BUSINESS. APPROXIMATELY 807 OF THE 1,072 FULL TIME DAY STUDENTS ARE PROVIDED WITH FOOD AND HOUSING. THE COLLEGE ADDITIONALLY PROVIDES ADMISSIONS SERVICES, FINANCIAL AID SERVICES, ATHLETIC OPPORTUNITIES, RESIDENCE LIFE SUPPORT, CAREER PLACEMENT, NEW STUDENT ORIENTATIONS, HEALTH SERVICES, AND REGISTRAR SERVICES TO THE STUDENT BODY. 58531292 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 106 0 1 738 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 29 29 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA AK AL CA CO CT FL GA HI IL KS KY ME MD MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI TN UT VA WA WV WI AR SC X JAMIE BAMBER 5082132131 NICHOLS COLLEGE DUDLEY MA 01571 RANDALL V BECKER CHAIR OF THE BOARD 2.00 X X 0 0 0 CAROLYN BURKE VICE CHAIR OF THE BOARD 2.00 X X 0 0 0 JOSEPH T BARTULIS JR SECRETARY 2.00 X X 0 0 0 WAYNE ARCHAMBO TRUSTEE 2.00 X 0 0 0 DAVID G BEDARD TRUSTEE 2.00 X 0 0 0 CYNTHIA A BEGIN TRUSTEE 2.00 X 0 0 0 JONATHAN M BIRTWELL TRUSTEE 2.00 X 0 0 0 JAMES C BROWN TRUSTEE 2.00 X 0 0 0 JENNIE L CAISSIE TRUSTEE 2.00 X 0 0 0 JAMES W COGHLIN SR TRUSTEE 2.00 X 0 0 0 JOHN H DAVIS TRUSTEE 2.00 X 0 0 0 STEPHEN A DAVIS TREASURER 2.00 X X 0 0 0 EDWIN B DONAHUE TRUSTEE 2.00 X 0 0 0 ANNA DYAKIV TRUSTEE 2.00 X 0 0 0 ASUMAN GOKSEL TRUSTEE 2.00 X 0 0 0 DAVID G HALE TRUSTEE 2.00 X 0 0 0 THOMAS J HALL TRUSTEE 2.00 X 0 0 0 ROBERT B KUPPENHEIMER TRUSTEE 2.00 X 0 0 0 THOMAS S LODGE TRUSTEE 2.00 X 0 0 0 PETER L LYNCH TRUSTEE 2.00 X 0 0 0 JOHN H MCCLUTCHY TRUSTEE 2.00 X 0 0 0 STEFANY C MENDEZ TRUSTEE 2.00 X 0 0 0 RICHARD T MOORE TRUSTEE 2.00 X 0 0 0 JAIME PARIS BOISVERT TRUSTEE 2.00 X 0 0 0 MADISON PERROTTI TRUSTEE 2.00 X 0 0 0 LINDSEY RUGG TRUSTEE 2.00 X 0 0 0 TAMMY WOLF SMYRL TRUSTEE 2.00 X 0 0 0 TAYLOR CORNELL TRUSTEE 2.00 X 0 0 0 EDMOND J LANDRY III TRUSTEE 2.00 X 0 0 0 WILLIAM PIECZYNSKI PRESIDENT 37.50 X 304294 0 32560 DANIEL BORGIA PROVOST 37.50 X 196271 0 34147 ROBERT LAVIGNE VP FOR OPERATIONS 37.50 X 199403 0 20644 JAMIE BAMBER CFO 37.50 X 49725 0 6556 KEVIN MENTZER FACULTY 37.50 X 205291 0 30035 MAURI PELTO ASSOCIATE PROVOST AND ACCR 37.50 X 156511 0 28515 DARCY VANGEL VP FOR HUMAN RESOURCES 37.50 X 178022 0 29067 JACK HAYES VP OF ATHLETICS 37.50 X 168142 0 29024 MICHAEL CROWLEY VP FOR ADMISSIONS 37.50 X 152182 0 23376 EDWARD CROWLEY FORMER CFO 37.50 X 170529 0 7698 1780370 0 241622 33 1 1 0 AMERICAN FOOD & VENDING CORP 124 METROPOLITAN PARK DRIVE SYRACUSE NY 13088 DINING SERVICES 3178874 EAGLE CLEANING CORP 997 MILLBURY STREET SUITE A WORCESTER MA 01607 MAINTENANCE SERVICES 773501 BARNES & NOBLE BOOKSELLERS 121 CENTER ROAD DUDLEY MA 01571 BOOKSTORE 459073 FOX BUS LINES 3 SILVER FOX DRIVE MILLBURY MA 01527 TRANSPORTATION 255986 R&T PRINTING INC DBA THE PRINT SHOP 2041 BOSTON ROAD WILBRAHAM MA 01095 PRINTING SERVICES 235828 8 72204 690997 2625801 35377 3389002 TUITION & RELATED FEES 611710 47063892 47063892 AUXILIARY REVENUE 611710 14100600 14100600 61164492 1023221 1023221 8146059 8400887 547875 -254828 -547875 -802703 -802703 33731 72204 55608 -21877 -21877 64752135 61164492 0 198641 25063220 25063220 920221 920221 15815351 13083103 2190097 542151 3459288 2495240 869203 94845 1130748 887598 205719 37431 107337 107337 74482 74482 106338 106338 649657 525746 119833 4078 456288 263627 192661 4985022 4656051 311902 17069 1868225 1508625 258095 101505 758247 727917 27251 3079 4557809 4375497 163807 18505 559847 115140 444707 VENDOR SERVICES 3252028 1069415 2130304 52309 FOOD SERVICE 2533641 2533641 SUPPLIES 659591 598077 56487 5027 SMALL EQUIPMENT & SOFTW 580026 209760 370266 790353 418635 302571 69147 68327719 58531292 8851281 945146 962857 553221 3653030 1392206 733184 803225 1906361 1766944 63680 35723 123191086 62962826 63826734 60228260 41732050 42526122 1407137 1506039 114285033 108811740 1155756 1224397 23766603 19192717 3209374 2217995 28131733 22635109 X 47921324 45837660 38231976 40338971 86153300 86176631 114285033 108811740 X -3575584 3594648 4267 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 60.20 0 0 0 1 0 0.00 0 31678442 597701 3246724 2014600 33508267 30234512 421965 3928325 2906360 31678442 27334716 589696 2917599 607499 30234512 32100561 699994 -4068217 1397622 27334716 21828052 4915397 5978936 621824 32100561 0.13143 0.86857 0 0 1391657 1391657 110986284 54127116 56859168 9925427 8835710 1089717 887718 887718 60228260 DEFERRED TUITION AND FEES 1939319 FINANCING LEASE LIABILITIES 278676 2217995 44197864 3594648 59875 3654523 40543341 106338 24102456 24208794 64752135 44174533 55608 55608 44118925 106338 24102456 24208794 68327719 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE COLLEGE CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE COLLEGE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE COLLEGE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE COLLEGE AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE COLLEGE; AND THE INVESTMENT POLICIES OF THE COLLEGE. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE COLLEGE'S FINANCE COMMITTEE SHALL SEEK TO INVEST THE ENDOWMENT FUNDS IN SUCH A MANNER THAT THE INVESTMENTS WILL PROVIDE A SPENDABLE RETURN CONSISTENT WITH A LONG-TERM GOAL OF PRESERVING THE FUNDS IN REAL TERMS. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE COLLEGE HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE COLLEGE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AS NEEDED, AMOUNTS FOR THE PURPOSE OF SCHOLARSHIPS AND FINANCIAL AID, SPECIAL PROGRAMS, CAPITAL IMPROVEMENTS, AND ACADEMIC AND ATHLETIC SUPPORT PROGRAMS. IN ESTABLISHING THIS POLICY, THE COLLEGE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE COLLEGE TO RETAIN AS A FUND OF PERPETUAL DURATION. THE COLLEGE MAY APPROPRIATE FOR EXPENDITURE FROM THESE UNDERWATER ENDOWMENT FUNDS IN ACCORDANCE WITH THE PRUDENT MEASURES PRESCRIBED BY STATE LAW. THERE WERE NO SUCH DEFICIENCIES AT JUNE 30, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST 4,267. FUNDRAISING EXPENSES 55,608. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 24,102,456. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 55,608. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 24,102,456. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICES OF THE SCHOOL'S DISCRIMINATION POLICY ARE POSTED ON CAMPUS BULLETIN BOARDS. THE POLICY IS INCLUDED IN SCHOOL BROCHURES, SCHOOL CATALOGS, SCHOOL WEBSITE, AND NEWSPAPER ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 NICHOLS COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE GOVERNMENT THROUGH GRANTS THAT ARE PROVIDED TO THE STUDENTS TO FUND THEIR EDUCATION. ALUMNI GOLF TOURNAMENT 38640 22350 16290 0 22839 BB GOLF TOURNAMENT 35549 33094 2455 0 20492 3 31746 16760 14986 0 12277 105935 72204 33731 55608 55608 -21877 1 INSTITUTIONAL FINANCIAL AID 1205 25063220 PART I, LINE 2: NICHOLS COLLEGE PARTICIPATES IN TITLE IV FUNDING. STUDENTS MUST COMPLETE THE FAFSA FORM TO APPLY FOR AID. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 WILLIAM PIECZYNSKI PRESIDENT 304294 0 0 0 0 0 13145 0 19415 0 336854 0 0 0 KEVIN MENTZER FACULTY 205291 0 0 0 0 0 9749 0 20286 0 235326 0 0 0 DANIEL BORGIA PROVOST 196271 0 0 0 0 0 9981 0 24166 0 230418 0 0 0 ROBERT LAVIGNE VP FOR OPERATIONS 199403 0 0 0 0 0 9829 0 10815 0 220047 0 0 0 DARCY VANGEL VP FOR HUMAN RESOURCES 178022 0 0 0 0 0 9000 0 20067 0 207089 0 0 0 JACK HAYES VP OF ATHLETICS 168142 0 0 0 0 0 8727 0 20297 0 197166 0 0 0 MAURI PELTO ASSOCIATE PROVOST AND ACCR 156511 0 0 0 0 0 8033 0 20482 0 185026 0 0 0 EDWARD CROWLEY FORMER CFO 170529 0 0 0 0 0 5721 0 1977 0 178227 0 0 0 MICHAEL CROWLEY VP FOR ADMISSIONS 152182 0 0 0 0 0 3672 0 19704 0 175558 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2021-04-01 20000000 REFINANCE DEBT, DESIGN OF NEW RESIDENCE HALL AND OTHER CAPITAL PROJECTS 0 0 0 A 20000000 202658 17273273 2726727 1 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 AMERICAN FOOD & VENDING CORP INDEPENDENT CONTRACTOR OF THE COLLEGE 3178874 DINING SERVICES 0 EAGLE CLEANING CORP INDEPENDENT CONTRACTOR OF THE COLLEGE 773501 MAINTENANCE SERVICES 0 X 7 35377 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JOHN DAVIS AND STEPHEN DAVIS ARE BROTHERS. FORM 990, PART VI, SECTION A, LINE 7A THE CHAIR AND OTHER OFFICERS OF THE COLLEGE, EXCEPT THE PRESIDENT AND ANY VICE PRESIDENTS, SHALL BE ELECTED BY THE BOARD FROM ITS MEMBERS AT ITS ANNUAL MEETING AND SHALL HOLD OFFICE UNTIL THEIR SUCCESSORS ARE DULY ELECTED AND QUALIFIED. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE FORM 990 ARE DISTRIBUTED TO THE BOARD AND QUESTIONS AND COMMENTS ARE ADDRESSED IN THE EXECUTIVE AND FULL BOARD MEETINGS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE COMPLETES AN ANNUAL CONFLICT OF INTEREST STATEMENT. REPORTED CONFLICTS ARE REVIEWED AND APPROVED (IF APPROPRIATE) BY THE BOARD'S EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES APPROVES THE SALARY FOR THE PRESIDENT ANNUALLY. THE COLLEGE UTILIZES THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO SET APPROPRIATE SALARY RANGES FOR THE OFFICERS OF THE ORGANIZATION. THE PRESIDENT DETERMINES THE ACTUAL SALARIES AS PART OF THE MERIT INCREASE/ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 ALL FORMS ARE AVAILABLE ON REQUEST FROM FINANCIAL OPERATIONS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST 4,267. DUDLEY FAIRWAYS LLC 123 CENTER ROAD DUDLEY MA 01571 821874136 REAL ESTATE MA DUDLEY LINKS OPERATIONS LLC 123 CENTER ROAD DUDLEY MA 01571 320535323 GOLF COURSE OPERATED BY OUTSIDE MGMT COMPANY MA