2026-06-22T14:25:31-05:00 2025-08-31 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-09-01 510163080 CAMBRIDGE COLLEGE INC CAMB 6178730449 500 RUTHERFORD AVENUE BOSTON MA 02129 DENNIS MADIGAN PRESIDENT & VP OF FIN. & ADMIN 6178681000 2026-06-22 1 1 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z DENNIS MADIGAN 500 RUTHERFORD AVENUE BOSTON MA 02129 384361 0 X WWW.CAMBRIDGECOLLEGE.EDU X 1974 MA THE MISSION OF CAMBRIDGE COLLEGE IS TO PROVIDE ACADEMICALLY EXCELLENT (CONTINUED ON SCHEDULE O)TIME-EFFICIENT, AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS. 3 2 95 2 0 0 419812 0 16937948 78288 1929032 306073 88495 0 19375287 384361 4118710 0 0 0 16186816 574558 35400 0 17292 13360136 408686 33701062 983244 -14325775 -598883 9490560 8335603 3625671 3171427 5864889 5164176 TO PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS FOR WHOM THOSE OPPORTUNITIES MAY HAVE BEEN LIMITED OR DENIED. 0 0 52837 0 78288 ON JULY 1, 2024, CAMBRIDGE COLLEGE CONTRIBUTED SUBSTANTIALLY ALL OF ITS ASSETS TO BPU ACQUISITION, LLC D/B/A CAMBRIDGE COLLEGE AT BAY PATH UNIVERSITY, A MASSACHUSETTS LIMITED LIABILITY COMPANY AND PUBLIC CHARITY THAT IS WHOLLY CONTROLLED BY THE MASSACHUSETTS NONPROFIT CORPORATION THAT OWNS AND OPERATES BAY PATH UNIVERSITY. AS A RESULT OF THIS TRANSACTION, CAMBRIDGE COLLEGE CEASED DOING BUSINESS AND IS IN THE PROCESS OF DISSOLVING THE CORPORATE LEGAL ENTITY AND WINDING UP ITS AFFAIRS. THE TRANSACTION IS SUBJECT TO FINAL REGULATORY APPROVALS OF THE DEPARTMENT OF EDUCATION AND MASSACHUSETTS ATTORNEY GENERAL, AMONG OTHERS. 52837 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 61 0 1 95 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA PR X X DENNIS MADIGAN 6178730449 500 RUTHERFORD AVENUE BOSTON MA 02129 X DENNIS MADIGAN PRESIDENT & VP OF FINANCE & ADMIN. 50.00 0.00 X X 234996 0 9674 KEVIN MCCALL CHAIR 1.50 0.00 X X 0 0 0 STEPHANIE BROWNE VICE CHAIR 1.00 0.00 X X 0 0 0 SANDRA D BRIDWELL PROFESSOR 0.00 0.00 X 176799 0 11600 BARBARA K REID PROFESSOR 0.00 0.00 X 160973 0 18031 MASSOMEH NAMAVAR PROFESSOR 0.00 0.00 X 153953 0 10902 DEBORAH J MERRIMAN PROFESSOR 0.00 0.00 X 154611 0 5345 LUCILIA M VALERIO PROFESSOR 0.00 0.00 X 145264 0 17727 STEPHEN E HEALEY FORMER INTERIM PRESIDENT 0.00 0.00 X 386090 0 16856 DEBORAH C JACKSON FORMER PRESIDENT 0.00 0.00 X 335372 0 0 LAURETTA D SIGGERS FORMER VP OF HR & TALENT DEV. 0.00 0.00 X 236069 0 11293 NITI SETH FORMER PROVOST 0.00 0.00 X 235793 0 10358 THOMAS J CAHILL JR - FORMER VP OF INSTITUTIONAL ADVANCEMENT 0.00 0.00 X 121705 0 6490 2341625 0 118276 13 1 1 0 FOCUS EDUSOLUTIONS INC 500 WEST CUMMING PARK STE 2700 WOBURN MA 01801 CONSULTING 609068 THOMPSON COBURN LLP ONE US BANK PLAZA SAINT LOUIS MO 63101 LEGAL SERVICES 546158 GRANT THORNTON LLP 445 BROADHOLLOW RD STE 300 MELVILLE NY 11747 AUDIT & TAX SERVICES 323775 AAFCPAS 50 WASHINGTON STREET WESTBOROUGH MA 01581 ACCOUNTING SERVICES 228153 IHEART MEDIA INC PO BOX 419499 BOSTON MA 02241 ADVERTISING 179611 11 TUITION AND FEES 611310 78288 78288 78288 306073 306073 384361 78288 0 306073 60000 60000 337322 337322 146004 23859 105794 16351 6243 274 5781 188 117 5 108 4 24872 1092 23031 749 27923 27573 350 255390 255390 22986 22986 20036 20036 4250 4250 10234 31 10203 52880 52880 DUES & SUBSCRIPTIONS 14987 3 14984 983244 52837 913115 17292 11062 506 2729559 2376567 1660090 939859 409147 151615 4649677 4838547 31025 28509 9490560 8335603 564709 3940 2437136 2437136 623826 730351 3625671 3171427 X 0 0 0 0 5864889 5164176 5864889 5164176 9490560 8335603 X -598883 -87330 -14500 X 0 0 0 X 4414422 93786 2038630 2469578 42938391 1222716 39746685 4414422 41492289 2843873 555104 842667 42938391 58078665 -5069876 716500 10800000 41492289 61023483 6485704 405776 9024746 58078665 0.00000 0.59770 0.40230 0 0 0 TUITION DEPOSITS 222452 DUE TO BPU ACQUISITION, LLC 507899 730351 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF FIVE INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS QUASI-ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES WHICH FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. EFFECTIVE JULY 1, 2024, THE COLLEGE TRANSFERRED ESSENTIALLY ALL OF ITS ASSETS AND CERTAIN LIABILITIES, INCLUDING ITS ENDOWMENT FUND, TO BPU ACQUISITION, LLC, PURSUANT TO AN ACQUISITION AGREEMENT. THIS TRANSFER WAS PART OF A BROADER TRANSACTION IN WHICH THE COLLEGE CEASED ITS EDUCATIONAL OPERATIONS AND BEGAN THE PROCESS OF DISSOLUTION AND WINDING UP ITS AFFAIRS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 SEE PART II LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: CAMBRIDGE COLLEGE IS COMMITTED TO AN EDUCATIONAL AND WORK ENVIRONMENT IN WHICH ALL INDIVIDUALS ARE TREATED WITH RESPECT AND DIGNITY. EACH INDIVIDUAL HAS THE RIGHT TO STUDY AND WORK IN A PROFESSIONAL ATMOSPHERE THAT PROMOTES EQUAL OPPORTUNITIES AND PROHIBITS UNLAWFUL DISCRIMINATORY PRACTICES, INCLUDING HARASSMENT. THEREFORE, THE COLLEGE EXPECTS THAT ALL RELATIONSHIPS AMONG PERSONS IN THE EDUCATIONAL SETTING AND THE WORKPLACE WILL BE BUSINESS-LIKE AND FREE OF BIAS, PREJUDICE AND HARASSMENT. IT IS THE POLICY OF THE COLLEGE TO ENSURE EQUAL OPPORTUNITY WITHOUT DISCRIMINATION OR HARASSMENT ON THE BASIS OF RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, AGE, DISABILITY, MARITAL STATUS, CITIZENSHIP, NATIONAL ORIGIN, GENETICS, OR ANY OTHER CHARACTERISTIC PROTECTED BY LAW. CAMBRIDGE COLLEGE PROHIBITS ANY SUCH DISCRIMINATION OR HARASSMENT. THE COLLEGE'S NON-DISCRIMINATORY POLICY CAN BE FOUND ON ITS WEBSITE AT HTTPS://WWW.CAMBRIDGECOLLEGE.EDU/POLICIES-PROCEDURES/STUDENT-AFFAIRS/NON -DISCRIMINATION-HARASSMENT-STUDENTS. X X 1 1 0 0 0 0 0 1 0 STEPHEN E HEALEY FORMER INTERIM PRESIDENT 210694 0 175000 0 396 0 16856 0 0 0 402946 0 0 0 DEBORAH C JACKSON FORMER PRESIDENT 0 0 0 0 335372 0 0 0 0 0 335372 0 164000 0 LAURETTA D SIGGERS FORMER VP OF HR & TALENT DEV. 125811 0 110000 0 258 0 9861 0 1432 0 247362 0 0 0 NITI SETH FORMER PROVOST 128161 0 55000 0 52632 0 10261 0 97 0 246151 0 0 0 DENNIS MADIGAN PRESIDENT & VP OF FINANCE & ADMIN. 179738 0 55000 0 258 0 9579 0 95 0 244670 0 0 0 SANDRA D BRIDWELL PROFESSOR 52422 0 0 0 124377 0 5415 0 6185 0 188399 0 0 0 BARBARA K REID PROFESSOR 52938 0 0 0 108035 0 5756 0 12275 0 179004 0 0 0 MASSOMEH NAMAVAR PROFESSOR 45444 0 0 0 108509 0 4717 0 6185 0 164855 0 0 0 LUCILIA M VALERIO PROFESSOR 47269 0 0 0 97995 0 5104 0 12623 0 162991 0 0 0 DEBORAH J MERRIMAN PROFESSOR 46102 0 0 0 108509 0 4717 0 628 0 159956 0 0 0 THOMAS J CAHILL JR - FORMER VP OF INSTITUTIONAL ADVANCEMENT 86553 0 0 0 35152 0 6467 0 23 0 128195 0 0 0 PART I, LINES 4A-B IN CONNECTION WITH THE BPU ACQUISITION, LLC TRANSACTION, THE INDIVIDUALS LISTED BELOW RECEIVED SEVERANCE, WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). NITI SETH $52,000 SANDRA D. BRIDWELL $123,141 BARBARA K. REID $107,273 MASSOMEH NAMAVAR $107,273 LUCILIA M. VALERIO $97,233 DEBORAH J. MERRIMAN $107,273 THOMAS J. CAHILL JR. $34,453 DEBORAH C. JACKSON, PRESIDENT, PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER A SECTION 457(F) PLAN. AMOUNTS ARE DETERMINED AND CONTRIBUTED IN ACCORDANCE WITH THE TERMS OF HER EMPLOYMENT AGREEMENT. DURING THE YEAR, UPON FULFILLMENT OF THE TERMS OF HER EMPLOYMENT AGREEMENT AND VESTING OF THE BENEFIT, THE COLLEGE DISTRIBUTED $335,372 TO THE PRESIDENT, REPRESENTING THE ACCUMULATED PLAN CONTRIBUTIONS AND RELATED EARNINGS. THIS AMOUNT IS INCLUDED IN TAXABLE WAGES AND REPORTED IN SCHEDULE J, PART II, COLUMN B(III). PART I, LINE 7 CERTAIN INDIVIDUALS RECEIVED A ONE-TIME RETENTION BONUS IN CALENDAR YEAR 2024, AUTHORIZED AT THE DISCRETION OF THE BOARD. THESE BONUSES ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II). FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE 990 WAS PREPARED AND REVIEWED BY A NATIONAL ADVISORY FIRM USING INFORMATION PROVIDED BY THE CONTROLLER. THE FORM IS SUBSEQUENTLY REVIEWED BY THE VP OF FINANCE AND ADMINISTRATION, AS WELL AS THE PRESIDENT. PRIOR TO FILING, A COPY OF FORM 990 WAS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT THE COLLEGE USES A CONFLICT OF INTEREST DISCLOSURE FORM TO MONITOR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. ANNUALLY, OFFICERS AND DIRECTORS ARE REQUIRED TO COMPLETE THE DISCLOSURE FORM. THE PROCESS IS ADMINISTERED BY THE TRUSTEES AND GOVERNANCE COMMITTEE WITH ASSISTANCE FROM THE OFFICE OF THE PRESIDENT. EFFECTIVE IMPLEMENTATION OF THIS POLICY REQUIRES, FIRST, THE FULL DISCLOSURE OF INDIVIDUAL INTERESTS THAT MIGHT CONFLICT WITH THE BEST INTERESTS OF THE COLLEGE. SECOND, THE TRUSTEES, OFFICERS, EMPLOYEES, AND OTHER REPRESENTATIVES WHO HAVE DISCLOSED A POTENTIAL CONFLICT OF INTEREST SHALL REFRAIN FROM PARTICIPATING IN THE COLLEGE'S CONSIDERATION OF ANY PROPOSED BUSINESS OR FINANCIAL RELATIONSHIP IN WHICH HE OR SHE IS INTERESTED, EXCEPT TO RESPOND TO QUESTIONS OR TO PROVIDE FURTHER INFORMATION. IF A TRANSACTION OR RELATIONSHIP REQUIRES A VOTE, THE INTERESTED PARTY SHOULD NOT BE PRESENT AT THE TIME OF THE VOTE. FORM 990, PART VI, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE. WHEN DETERMINING THE PRESIDENT'S COMPENSATION, HUMAN RESOURCES PROVIDES A COMPENSATION ANALYSIS FOR SIMILARLY SITUATED PRESIDENTIAL SALARIES. A WRITTEN CONTRACT IS NEGOTIATED AND THE EMPLOYMENT AND COMPENSATION PACKAGE IS THEN APPROVED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 18 AVAILABILITY OF FORM 990 FOR PUBLIC INSPECTION CAMBRIDGE COLLEGE'S FORM 990 IS AVAILABLE VIA REQUEST FROM THE COLLEGE. THE FORM 990 IS ALSO AVAILABLE ONLINE FROM GUIDESTAR, THE MASSACHSUETT'S ATTORNEY GENERAL'S OFFICE AND OTHER SUCH SOURCES. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC CAMBRIDGE COLLEGE MAKES AVAILABLE COPIES OF ITS BY-LAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION A: COMPENSATION REPORTED IN PART VII AND SCHEDULE J, PART II, REFLECTS CALENDAR YEAR 2024 COMPENSATION PER IRS INSTRUCTIONS. EFFECTIVE JULY 1, 2024, THE COLLEGE CEASED OPERATIONS, AND CERTAIN LISTED INDIVIDUALS DID NOT PROVIDE SERVICES DURING THE FISCAL YEAR BUT HAD REPORTABLE CALENDAR YEAR COMPENSATION. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS TO BPU ACQUISITION, LLC -14,500.