2024-05-03T11:19:13-05:00 2023-06-30 WITHUMSMITHBROWNPC 155 SEAPORT BOULEVARD BOSTON MA 02210 990 2022-07-01 042103576 BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY % KEVIN HEPNER BENJ 6174234630 41 BERKELEY STREET BOSTON MA 02116 KEVIN L HEPNER CFO 6174234630 2024-03-22 true KEVIN L HEPNER 999009999 RICHARD L RUVELSON P00234075 6172273333 2 2022 2023-04-26 12:10:37Z DR AISHA FRANCIS 41 BERKELEY STREET BOSTON MA 02116 19474348 false X WWW.FRANKLINCUMMINGS.EDU X 1913 MA BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY'S mission is to deliver transformative technical and trade education that leads to economic advancement. 22 21 155 21 0 0 6669579 9770719 10026655 9426991 3387 7507 145753 177545 16845374 19382762 2897344 2031019 0 0 7645802 8111489 0 0 831881 6276116 6732832 16819262 16875340 26112 2507422 17195877 22696356 10874146 13872185 6321731 8824171 X BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY'S MISSION IS TO DELIVER TRANSFORMATIVE TECHNICAL AND TRADE EDUCATION THAT LEADS TO ECONOMIC ADVANCEMENT. false false 12251346 2031019 9426991 SEE SCHEDULE O 12251346 true true false true false false false false false true true false false false true true true false true false false false false false false false false false true true false false false false false false false false true false false false false true true false false false true 70 0 true 155 true false false false false false false false false false true false false false X 22 21 false false false false false false false true true false false true true true true true true true true false MA X KEVIN HEPNER 6175881376 41 BERKELEY STREET BOSTON MA 02116 X Aisha Francis President & CEO 35.0 0.0 X X 261081 0 29356 Marvin Loiseau Dean of Academics & Chief Acad 35.0 0.0 X 156342 0 14184 Courtney Roy-Branigan Chief Campaign Officer 35.0 0.0 X 145083 0 14771 Kevin Hepner Chief Financial Officer 35.0 0.0 X 147651 0 5814 Kristen Hurley Chief Strategy Officer 35.0 0.0 X 133801 0 13165 Alan Blair Controller 35.0 0.0 X 104031 0 20966 Jackie Cornog Dean of Students 35.0 0.0 X 107835 0 11889 Turahn Dorsey Chair Board of Trustees 5.0 0.0 X X 0 0 0 Rahkeem Morris Vice Chair 5.0 0.0 X X 0 0 0 Marisa Meldonian Vice Chair 5.0 0.0 X X 0 0 0 Claire Wadlington Treasurer 5.0 0.0 X X 0 0 0 Maureen Pompeo Clerk 5.0 0.0 X X 0 0 0 Trinh Nguyen City of Boston Rep 5.0 0.0 X X 0 0 0 David Fischer Director 2.0 0.0 X 0 0 0 Andrew Tarsy Director 2.0 0.0 X 0 0 0 Rahul Yarala Director 2.0 0.0 X 0 0 0 Roger Berman Director 2.0 0.0 X 0 0 0 Chenita Daughtry Director 2.0 0.0 X 0 0 0 Paul Macrina Director 2.0 0.0 X 0 0 0 Stetson Marshall Director 2.0 0.0 X 0 0 0 Adam Pase Director 1.0 0.0 X 0 0 0 Ekumene Lysonge Director 2.0 0.0 X 0 0 0 Rachel Kaprielian Director 2.0 0.0 X 0 0 0 Caroline Fay Director 2.0 0.0 X 0 0 0 Roger Brown Director 2.0 0.0 X 0 0 0 Fernando Rodriguez-Villa Director 2.0 0.0 X 0 0 0 Anna Yu director 2.0 0.0 X 0 0 0 Mary Churchill director 2.0 0.0 X 0 0 0 1055824 0 110145 7 false true false Insource Services Inc PO Box 427 NEWTON MA 02464 IT Services 826564 Arka HR Inc 200 Portland Street BOSTON MA 02114 HR and AP Support 223865 NORMAN STEIN 199 BABCOCK STREET BROOKLINE MA 02446 CONSULTING 122250 FA SOLUTIONS 600 1ST AVE NORTH 302 ST PETERSBURG FL 33701 FINCL AID SERVICES 120287 4 1714358 8056361 261434 9770719 TUITION AND FEES 611710 7266362 7266362 AUXILIARY INCOME 611710 1669618 1669618 STUDENT PROVISIONS 611710 491011 491011 9426991 6944 6944 0 0 177545 177545 0 177545 177545 92149 91586 563 563 563 0 0 0 0 0 0 0 0 0 0 19382762 9426991 185052 0 2031019 2031019 0 0 406453 320325 64708 21420 0 6401789 5218308 835029 348452 155441 93096 58039 4306 656735 381601 256134 19000 491071 413738 52463 24870 2170040 1595933 503520 70587 88743 3510 85233 70914 70914 72000 72000 0 0 298300 22915 131189 144196 351220 284006 63000 4214 192996 46780 106231 39985 382596 371836 1999 8761 0 240120 32981 207094 45 22927 12645 7007 3275 0 55561 36957 15736 2868 0 0 397075 397075 92056 92056 STUDENT SERVICES 341900 341900 STUDENT PROVISIONS 444740 444740 EQUIPMENT RENTAL AND MAINTENAN 628940 501455 127300 185 BAD DEBT 426865 426865 455839 97601 218521 139717 16875340 12251346 3792113 831881 X 726911 2358390 0 0 1512227 2528473 1091126 1615740 0 0 0 0 0 0 0 0 132646 192861 21531501 6840304 12762957 14691197 950010 1270200 0 0 0 0 0 0 20000 39495 17195877 22696356 1525575 1502932 0 0 1246435 914324 0 0 0 0 0 0 8102136 11435155 0 0 0 19774 10874146 13872185 X 926489 1191271 5395242 7632900 6321731 8824171 17195877 22696356 2507422 -4982 X false true X true true true X 2659327 3912823 7902084 6669579 9770719 30914532 0 0 2659327 3912823 7902084 6669579 9770719 30914532 4452398 26462134 341277 177160 43320 149383 184489 895629 0 0 31810161 50039602 0.83188 0.88242 X FORM 990, SCHEDULE A, PART I, LINE 2: THE BASIS OF BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY'S PUBLIC CHARITY STATUS HAS BEEN AND CONTINUES TO BE ITS QUALIFICATION AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). THE ORGANZIATION HAS CHECKED BOX 2 ON SCHEDULE A, PART I AND COMPLETED SCHEDULE A, PART II IN ORDER TO DEMONSTRATE ITS QUALIFICATION TO FOLLOW THE SPECIAL RULE FOR ABBREVIATED REPORTING OF CONTRIBUTIONS ON FORM 990, SCHEDULE B. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 72000 false false 72000 false 3740010 7665 2525 3750200 3539923 206059 -5972 3740010 3374503 157153 8267 3539923 3231328 152550 -9375 3374503 3843178 96779 41371 750000 3231328 0.12830 0.87170 0.00000 false false 7064666 7064666 3181180 2520562 660618 4722747 3760131 962616 6562908 559611 6003297 14691197 0 OPERATING LEASE 19774 19774 X 17747594 -4982 -4982 17752576 1630186 1630186 19382762 15245154 15245154 1630186 1630186 16875340 Part X, Line 2: BFCIT accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. Franklin Cummings Tech has identified its tax status as a tax-exempt entity and its determinations of which income items are related or unrelated as its only significant tax positions; however, Franklin Cummings Tech has determined that such tax positions do not result in an uncertainty requiring recognition. Franklin Cummings Tech is not currently under examination by any taxing jurisdictions. Franklin Cummings Tech's federal and state tax returns are generally open for examination for three years following the date filed. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 1,630,186 PART XII, LINE 4B - OTHER ADJUSTMENTS: UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 1,630,186 true true true true true true true false false false false false false false false true false true Line - 3 Explanation THE INFORMATION IS MAINTAINED ON THE COLLEGE'S WEBSITE, IN THE CATALOG, AND IN THE STUDENT HANDBOOK. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE INSTITUTE RECEIVES FEDERAL GOVERNMENT FUNDS (TITLE IV) TO BE USED IN THE STUDENT FINANCIAL AID PROGRAM. THE FUNDS RECEIVED INCLUDE PELL GRANTS, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY AND PARTICIPATION IN THE FEDERAL DIRECT LOAN PROGRAMS (SUBSIDIZED STAFFORD, UNSUBSIDIZED STAFFORD, PARENT PLUS LOANS). ALL GRANTS ARE REVIEWED, EVALUATED AND REPORTED (A-133) BY THE INSTITUTE'S INDEPENDENT AUDITOR, WITHUMSMITH+BROWN, PC true SCHOLARSHIPS FOR STUDENTS 496 1630186 REDUCTION OF STUDENT Pass Through of HEERF Funds to Students 247 400833 PART I, LINE 2: THE INSTITUTE MAINTAINS DETAILED RECORDS IN THE STUDENT INFORMATION SYSTEM DATABASE OF ALL SCHOLARSHIPS AWARDED. X X X false false false false false false false false false Aisha Francis President & CEO 261081 0 0 0 0 0 14318 0 15038 0 290437 0 0 0 Marvin Loiseau Dean of Academics & Chief Acad 156342 0 0 0 0 0 8370 0 5814 0 170526 0 0 0 Courtney Roy-Branigan Chief Campaign Officer 145083 0 0 0 0 0 0 0 14771 0 159854 0 0 0 Kevin Hepner Chief Financial Officer 147651 0 0 0 0 0 0 0 5814 0 153465 0 0 0 X 4 37500 FMV X 3 92149 FMV X Equipment 2 128010 FMV X Prescription lenses 1 3525 FMV X GIFT CARD 1 250 FMV false true false SCHEDULE M, PART I, COLUMN (B): THE AMOUNT REPORTED ON SCHEDULE M, PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 4A - DESCRIPTION OF PROGRAM SERVICE ACTIVITIES: Benjamin Franklin Cummings Institute of Technology is a private nonprofit technical college founded in 1908 with a mission to deliver transformative technical and trade education that leads to economic advancement. Our special focus is to educate students in growing career fields and meet the workforce needs of high-demand industries. Along with a solid technical foundation and hands-on experience, our approach to education emphasizes team-building, problem-solving, and communication skills required to succeed in today's workforce. 76% of our students are students of color and 47% are first generation college students. During Fiscal 2022 the college served 874 students, 61% in traditional programs and 39% in strategic partnerships and continuing education programs. During the year, the College completed its comprehensive NECHE evaluation visit and in March received a continued 10-year accreditation with its next visit scheduled for 2031. The job placement rate climbed to 84% with the alumni median salary 1 year after graduation of $52,000. Degree program median annual salaries increased by $7,426 from the previous year, raising to $59,530. Professor Blair Wong, Director of Opticianry at the college was inducted into the Opticians Association of America Opticians Hall of Fame in June 2022. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: BFCIT IS AN AFFORDABLE, URBAN COLLEGE SERVING THE BOSTON REGION AND COMMITTED TO STUDENT SUCCESS AND CAREER READINESS IN TECHNOLOGY FIELDS. THROUGH PERSONALIZED SUPPORT, HANDS-ON LEARNING, AND INDUSTRY-INFORMED CURRICULA, BFCIT PREPARES GRADUATES FOR WORK, LIFE-LONG LEARNING, AND CITIZENSHIP. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE AND PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C: TRUSTEES ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST DISCLOSURE ANNUALLY AND REPORT CONFLICTS IMMEDIATELY SHOULD THEY DEVELOP DURING THE YEAR. CONFLICT OF INTEREST DISCLOSURES ARE REVIEWED BY THE CHAIR OF THE GOVERNANCE COMMITTEE, AS AUTHROIZED BY THE BOARD OF TRUSTEES IS RESPONSIBLE FOR RESOLUTION, AND THE INDIVIDUAL WITH A CONFLICT IS RECUSED FROM PARTICIPATING IN THE DISCUSSION AND RESOLUTION OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15: THE PRESIDENT'S COMPENSATION IS SUBJECT TO ANNUAL REVIEW BY A PRESIDENTIAL REVIEW SUBCOMMITTEE, AS AUTHORIZED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE SUBCOMMITTEE MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, WHO REVIEWS COMPARABLE SALARY INFORMATION PRIOR TO MAKING A RECOMMENDATION FOR APPROVAL TO THE COMPLETE BOARD OF TRUSTEES. THE REVIEW IS DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES. THE CFO'S COMPENSATION IS DETERMINED USING COMPARABILITY DATA, INCLUDING REVIEW AND APPROVAL BY INDEPENDENT PERSONS, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FRANKLIN FOUNDATION 41 BERKELEY STREET BOSTOn MA 02116 222995201 Support BFCIT MA 501(C)(3) LINE 12A, I BFCIT true false false false false false false false false false false false false false false false false false false false