Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1949.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
77 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
33 people listed on the 990; $2.5M paid to officers and key staff (Part VII, Section A).
Sandra Doran’s $514K as President is at the 39th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Carol Leary | — | — | — | $242,298 | $1,442,549 | — |
| Sandra Doran | $514,138 | $468,000 | $455,780 | $444,216 | $238,512 | — |
| Dr Carol a Leary | — | — | — | — | — | $494,510 |
| Michael Giampietro | $280,137 | $251,867 | $260,334 | $232,009 | $222,694 | $224,856 |
| John Caron | — | $244,688 | — | — | — | — |
| Kathleen Bourque | $240,708 | $214,533 | $224,139 | $186,981 | $190,114 | $188,646 |
| Frank Rojas | $240,088 | $227,835 | $227,513 | — | — | — |
| Melissa Morriss-Olsen | $191,179 | $187,555 | $181,410 | $177,731 | — | $236,518 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Bay Path University executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides higher education and campus services to empower undergraduate women and graduate students for leadership roles in their careers and communities.
Questions for Bay Path University
Your first name shows with your question. Bay Path University answers here, for everyone.
The University provides instruction, academic support, student services, and student financial aid to carry out its exempt purposes, serving approximately 3,400 students.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-2103865) · Dispute this lineAuxiliary enterprises provide services for the convenience of the students, faculty, and staff. This includes dining services, student housing, the bookstore, and other miscellaneous services. The University served approximately 3,400 students, including approximately 300 resident students.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 04-2103865) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
Plus 8 smaller programs.
The auditor reported 3 findings: a weakness in money controls, questioned costs.
Plus 7 smaller programs.
The auditor reported 2 findings: a weakness in money controls.
Plus 6 smaller programs.
The auditor reported 2 findings: a weakness in money controls.
Plus 4 smaller programs.
The auditor reported 20 findings.
Grants and contracts made straight to it, by federal fiscal year (Oct to Sep). Money that came through a state or another group is not counted here.
Estimate: about 6% of its revenue in 2025 came from these federal awards ($6.2M of $104.0M). The federal year and the group's own year do not line up, and one award can pay out over several years.
By the numbers
The FY2025 990, line by line.
Download 990
| Line | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| End of yearLn 1g | $89.3M | $74.4M | $67.3M | $63.5M | $74.1M |
| AddedLn 1b | $10.0M | $1.2M | $979K | $576K | $854K |
| SpentLn 1d–1f | $4.9M | $2.2M | $534K | $331K | $313K |
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $6.6M | $13.6M |
| InvestmentsLn 11–13 | $91.5M | $105.2M |
| Land, buildings, equipmentLn 10c | $28.3M | $28.2M |
| Total assetsLn 16 | $134.4M | $165.2M |
| LiabilitiesLn 26 | $23.0M | $30.3M |
| Net assetsLn 32 | $111.4M | $134.9M |
| Line | FY25 | FY24 |
|---|---|---|
| Gross | −$6K | $1K |
| Net | −$6K | $1K |
| Tax | $0 | $46 |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $25K | $25K | ||
| Grants to domestic individualsLn 2 | $17.7M | $17.7M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $1.8M | $581K | $1.2M | |
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $32.4M | $26.1M | $5.6M | $607K |
| Pension plan contributionsLn 8 | $1.5M | $1.2M | $363K | $31K |
| Other employee benefitsLn 9 | $2.1M | $1.5M | $488K | $42K |
| Payroll taxesLn 10 | $2.6M | $1.9M | $608K | $52K |
| Management feesLn 11a | $149K | $146K | $3K | |
| Legal feesLn 11b | $335K | $335K | ||
| Accounting feesLn 11c | $228K | $13K | $215K | |
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $16K | $16K | ||
| Investment management feesLn 11f | $0 | |||
| Other fees for servicesLn 11g | $6.2M | $3.7M | $2.3M | $140K |
| Advertising and promotionLn 12 | $4.0M | $2.4M | $1.6M | |
| Office expensesLn 13 | $371K | $207K | $157K | $7K |
| Information technologyLn 14 | $1.5M | $785K | $740K | |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $615K | $331K | $284K | |
| TravelLn 17 | $250K | $199K | $50K | $1K |
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $115K | $92K | $24K | |
| InterestLn 20 | $425K | $320K | $105K | |
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $3.4M | $2.0M | $1.4M | |
| InsuranceLn 23 | $629K | $629K | ||
| Other expenses (24a–d)Ln 24 | $4.9M | $3.5M | $1.4M | |
| All other expensesLn 24e | $3.2M | $2.5M | $702K | $11K |
| Total functional expensesLn 25 | $84.4M | $65.2M | $18.3M | $907K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 15, 2026 | $104.0M | $84.4M | $19.5M | $134.9M | 990 PDF |
| FY2024Filed with the IRS May 14, 2025 | $67.3M | $66.7M | $639K | $111.4M | 990 PDF |
| FY2023Filed with the IRS May 13, 2024 | $61.7M | $61.9M | −$233K | $103.6M | 990 PDF |
| FY2022Filed with the IRS May 15, 2023 | $66.6M | $64.8M | $1.9M | $98.8M | 990 PDF |
| FY2021Filed with the IRS May 11, 2022 | $73.7M | $64.7M | $8.9M | $109.0M | 990 PDF |
| FY2020Filed with the IRS May 5, 2021 | $71.7M | $68.6M | $3.0M | $89.2M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $103,964,615 revenue, 12 lines filed
Part VI · Governance 23 of 23 board members independent, no flags
Part VIII · Statement of revenue $103,964,615 across 12 lines filed
Part IX · Statement of functional expenses $84,420,066 across 31 lines filed
Part X · Balance sheet $165,249,628 assets, 30 lines filed
Part XI · Reconciliation of net assets $134,899,841 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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