MONTSERRAT COLLEGE OF ART INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- MONTSERRAT COLLEGE OF ART INC (EIN 52-1859814)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-15
- IRS object ID
- 202311359349303781
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-15T09:14:28-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 043000523 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | O'CONNOR & DREW PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 25 BRAINTREE HILL OFFICE PARK SUITE | AddressLine1Txt |
| Address Line2 | 102 | AddressLine2Txt |
| City | BRAINTREE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02184 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521859814 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MONTSERRAT COLLEGE OF ART INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MONT | BusinessNameControlTxt |
| Phone | 9789214242 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 23 ESSEX STREET | AddressLine1Txt |
| City | BEVERLY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01915 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRIAN PELLINEN | PersonNm |
| Person Title | INTERIM PRESIDENT | PersonTitleTxt |
| Phone | 9789214242 | PhoneNum |
| Signature | 2023-05-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | BRIAN | PersonFirstNm |
| Person Last | PELLINEN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JEFFREY J CARUSO | PreparerPersonNm |
| PTIN | P00303577 | PTIN |
| Phone | 7817294949 | PhoneNum |
| Preparation | 2023-05-12 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BRIAN PELLINEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 23 ESSEX STREET | AddressLine1Txt |
| City | BEVERLY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01915 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $17,310,420 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MONTSERRAT.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1992 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | MONTSERRAT COLLEGE OF ART, IS A SMALL INDEPENDENT ART COLLEGE, WHICH PROVIDES AND INDIVIDUALIZED EDUCATION TO ARTISTS AND DESIGNERS THAT IS FOCUSED ON THE PROFESSIONAL AND PERSONAL SUCCESS OF EACH STUDENT. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 291 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,061,902 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,402,694 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $16,832,398 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $14,749,803 | CYProgramServiceRevenueAmt |
| PY Investment Income | $46,148 | PYInvestmentIncomeAmt |
| CY Investment Income | $39,285 | CYInvestmentIncomeAmt |
| PY Other Revenue | $32,903 | PYOtherRevenueAmt |
| CY Other Revenue | -$1,242 | CYOtherRevenueAmt |
| PY Total Revenue | $17,973,351 | PYTotalRevenueAmt |
| CY Total Revenue | $17,190,540 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $5,792,451 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,870,125 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,833,110 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,275,205 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $198,823 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,376,789 | PYOtherExpensesAmt |
| CY Other Expenses | $4,871,495 | CYOtherExpensesAmt |
| PY Total Expenses | $16,002,350 | PYTotalExpensesAmt |
| CY Total Expenses | $17,016,825 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,971,001 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $173,715 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $16,506,023 | TotalAssetsBOYAmt |
| Total Assets EOY | $17,112,239 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $6,409,986 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $7,568,261 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $10,096,037 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $9,543,978 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | FOUNDED BY WORKING CREATIVE PROFESSIONALS, MONTSERRAT COLLEGE OF ART PROVIDES AN INDIVIDUALIZED EDUCATION FOCUSED ON MAXIMIZING THE PROFESSIONAL AND PERSONAL SUCCESS OF EACH STUDENT. STRUCTURED AROUND EXPERIENTIAL LEARNING, STUDIO PRACTICE, LIBERAL ARTS, AND PROFESSIONAL PREPARATION, THE MISSION OF THE COLLEGE IS TO ENSURE THAT ITS GRADUATES LEAVE EQUIPPED WITH THE COMPETENCE, CONFIDENCE, AND HABITS OF MIND TO BUILD LIVES OF CREATIVE ENTERPRISE AND COMMUNITY ENGAGEMENT. MONTSERRAT RECOGNIZES ITS ROLE AS AN ECONOMIC DRIVER AND CULTURAL LEADER IN THE REGION. MONTSERRAT COLLEGE OF ART IS A NON-PROFIT, INDEPENDENT ART SCHOOL, ACCREDITED BY THE NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN (NASAD) AND BY THE NEW ENGLAND COMMISSION OF HIGHER EDUCATION (NECHE), THROUGH ITS COMMISSION ON INSTITUTIONS OF HIGHER EDUCATION TO AWARD THE BACHELOR OF FINE ARTS DEGREE IN 10 STUDIO CONCENTRATIONS. THE COLLEGE IS ALSO A MEMBER OF THE ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $12,938,995 | ExpenseAmt |
| Grant | $5,870,125 | GrantAmt |
| Revenue | $15,903,274 | RevenueAmt |
| Desc | MONTSERRAT HAS AN ACTIVE STUDENT BODY OF 360+ STUDENTS AS OF FALL 2021 AND EMPLOYEES 70+ FACULTY MEMBERS. ITS SMALL SIZE ALLOWS FOR MORE ACADEMIC ATTENTION TO THE PROGRESS OF EACH INDIVIDUAL STUDENT. WE BELIEVE IN PREPARING OUR STUDENTS FOR SUCCESSFUL, ENJOYABLE CAREERS IN CREATIVE FIELDS. THAT'S WHY WE INCORPORATE EXPERIENCE-BASED LEARNING INTO OUR CURRICULUM AND ASSIST STUDENTS WITH FINDING MEANINGFUL INTERNSHIPS THAT MOST COMPLETE DURING THEIR JUNIOR YEAR. MONTSERRAT COLLEGE OF ART OFFERS A WIDE VARIETY OF ART, DESIGN AND WRITING PROGRAMS IN A STUDENT-CENTERED ENVIRONMENT THAT'S RIGOROUS, AND COLLABORATIVE. | Desc |
| Total Program Service Expenses | $12,938,995 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | Yes (1) | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 41 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 291 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LISA SHAWNEY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9789214242 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 23 ESSEX STREET | AddressLine1Txt |
| City | BEVERLY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01915 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| MICHAEL J BELLIVEAU PHD | |||||||
| VICE CHAIR OF ADVANCEMENT | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MERCEDES SHERROD EVANS | |||||||
| BOARD CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| BLYTH HAZEN | |||||||
| TRUSTEE FACULTY REP | 38.00 | Yes (X) | $65,400 | $0 | $8,364 | ||
| SARAH DINEEN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRIS KOEPLIN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JANUARY O'NEIL | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TONY LAING PHD | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RACHEL PERRY | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BARBARA SCHAYE | |||||||
| VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOSEPH M GISO | |||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOHN SUTYAK | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOSUE BESSIAKE | |||||||
| STUDENT TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TYSON J LYNCH ESQ | |||||||
| VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JEFF HAMILTON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KENNETH TURNER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS GRANT | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DR VELDA MCRAE-YATES | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KATHRINE B WINTERS | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LISA SHAWNEY | |||||||
| CFO | 38.00 | $57,692 | $0 | $3,640 | Yes (X) | ||
| KURT STEINBERG | |||||||
| PRESIDENT | 38.00 | $263,692 | $0 | $23,929 | Yes (X) | ||
| BRIAN PELLINEN | |||||||
| DEAN OF ACADEMIC AFFAIRS | 38.00 | $121,000 | $0 | $16,640 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $507,784 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $52,573 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| TIRO DESIGN & CONSTRUCTION | |||||
| 23 BROADWAY | BEVERLY | MA | 01915 | GENERAL CONTRACTOR | $254,773 |
| ALLIED UNIVERSAL SECURITY SERVICES | |||||
| 580 HARRISON AVENUE | BOSTON | MA | 02118 | SECURITY | $156,738 |
| FRASER ENGINEERING | |||||
| 65 COURT STREET | NEWTON | MA | 02458 | MECHANICAL CONTRACTOR | $100,898 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $115,650 | FundraisingAmt |
| Government Grants | $1,153,471 | GovernmentGrantsAmt |
| All Other Contributions | $1,133,573 | AllOtherContributionsAmt |
| Total Contributions | $2,402,694 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| UNDERGRADUATE TUITION | 611710 | $10,892,005 | $10,892,005 |
| STUDENT HOUSING | 611710 | $2,648,820 | $2,648,820 |
| STUDENT FEES | 611710 | $726,530 | $726,530 |
| CONTINUING EDUCATION | 611710 | $401,108 | $401,108 |
| STUDENT ART SUPPLIES | 611710 | $81,340 | $81,340 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $14,749,803 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,285 | TotalRevenueColumnAmt |
| Exclusion | $39,285 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $85,583 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $115,650 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $119,880 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$34,297 | TotalRevenueColumnAmt |
| Exclusion | -$34,297 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 611710 | BusinessCd |
| Total Revenue Column | $33,055 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $33,055 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $33,055 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,190,540 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,782,858 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,988 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,870,125 | TotalAmt |
| Program Services | $5,870,125 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $703,740 | TotalAmt |
| Program Services | $245,536 | ProgramServicesAmt |
| Management And General | $458,204 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,514,987 | TotalAmt |
| Program Services | $3,504,507 | ProgramServicesAmt |
| Management And General | $905,278 | ManagementAndGeneralAmt |
| Fundraising | $105,202 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $48,105 | TotalAmt |
| Program Services | $34,636 | ProgramServicesAmt |
| Management And General | $12,507 | ManagementAndGeneralAmt |
| Fundraising | $962 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $657,728 | TotalAmt |
| Program Services | $473,564 | ProgramServicesAmt |
| Management And General | $171,009 | ManagementAndGeneralAmt |
| Fundraising | $13,155 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $350,645 | TotalAmt |
| Program Services | $252,464 | ProgramServicesAmt |
| Management And General | $91,168 | ManagementAndGeneralAmt |
| Fundraising | $7,013 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,658 | TotalAmt |
| Management And General | $4,658 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,671 | TotalAmt |
| Management And General | $57,671 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $837,971 | TotalAmt |
| Program Services | $306,370 | ProgramServicesAmt |
| Management And General | $486,350 | ManagementAndGeneralAmt |
| Fundraising | $45,251 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $130,079 | TotalAmt |
| Program Services | $81,079 | ProgramServicesAmt |
| Management And General | $42,077 | ManagementAndGeneralAmt |
| Fundraising | $6,923 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $474,959 | TotalAmt |
| Program Services | $224,345 | ProgramServicesAmt |
| Management And General | $249,943 | ManagementAndGeneralAmt |
| Fundraising | $671 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $851,851 | TotalAmt |
| Program Services | $648,461 | ProgramServicesAmt |
| Management And General | $203,390 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $242,670 | TotalAmt |
| Program Services | $162,470 | ProgramServicesAmt |
| Management And General | $67,091 | ManagementAndGeneralAmt |
| Fundraising | $13,109 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $182,613 | TotalAmt |
| Program Services | $155,521 | ProgramServicesAmt |
| Management And General | $27,092 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $535,556 | TotalAmt |
| Program Services | $456,103 | ProgramServicesAmt |
| Management And General | $79,453 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,278 | TotalAmt |
| Program Services | $153,943 | ProgramServicesAmt |
| Management And General | $94,335 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| MAINTENANCE | $796,063 | $278,848 | $517,215 | |
| SECURITY | $174,240 | $174,240 | ||
| MISCELLANEOUS EXPENSES | $143,969 | $85,891 | $51,541 | $6,537 |
| CREDIT CARD AND BANK FE | $76,403 | $76,403 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,514 | TotalAmt |
| Program Services | $5,132 | ProgramServicesAmt |
| Management And General | $109,382 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,016,825 | TotalAmt |
| Program Services | $12,938,995 | ProgramServicesAmt |
| Management And General | $3,879,007 | ManagementAndGeneralAmt |
| Fundraising | $198,823 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,173,124 | BOYAmt |
| EOY | $2,839,038 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $92,080 | BOYAmt |
| EOY | $55,685 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,349 | BOYAmt |
| EOY | $70,587 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $202,875 | BOYAmt |
| EOY | $197,001 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $20,115,119 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,555,629 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,971,811 | BOYAmt |
| EOY | $10,559,490 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,007,784 | BOYAmt |
| EOY | $3,390,438 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,506,023 | BOYAmt |
| EOY | $17,112,239 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $525,931 | BOYAmt |
| EOY | $493,694 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $805,609 | BOYAmt |
| EOY | $599,467 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,968,946 | BOYAmt |
| EOY | $6,350,600 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,500 | BOYAmt |
| EOY | $124,500 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,409,986 | BOYAmt |
| EOY | $7,568,261 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,486,964 | BOYAmt |
| EOY | $7,041,972 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,609,073 | BOYAmt |
| EOY | $2,502,006 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,096,037 | BOYAmt |
| EOY | $9,543,978 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,506,023 | BOYAmt |
| EOY | $17,112,239 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $173,715 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$605,894 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$119,880 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
Collection Used Other Purposes CollectionUsedOtherPurposesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Other Purposes | Yes (X) | CollectionUsedOtherPurposesInd |
| Other Purposes | TEACHING | OtherPurposesDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Solicited Assets Sale | Yes (1) | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,079,804 | BeginningYearBalanceAmt |
| Contributions | $326,497 | ContributionsAmt |
| Investment Earnings Or Losses | -$548,125 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $2,858,176 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,367,922 | BeginningYearBalanceAmt |
| Contributions | $1,043,804 | ContributionsAmt |
| Investment Earnings Or Losses | $668,078 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $3,079,804 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $1,328,644 | BeginningYearBalanceAmt |
| Contributions | $56,000 | ContributionsAmt |
| Investment Earnings Or Losses | -$16,722 | InvestmentEarningsOrLossesAmt |
| End Year Balance | $1,367,922 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $756,411 | BeginningYearBalanceAmt |
| Contributions | $527,103 | ContributionsAmt |
| Investment Earnings Or Losses | $71,907 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $21,689 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $5,088 | AdministrativeExpensesAmt |
| End Year Balance | $1,328,644 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $729,153 | BeginningYearBalanceAmt |
| Contributions | $500 | ContributionsAmt |
| Investment Earnings Or Losses | $52,911 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $21,258 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $4,895 | AdministrativeExpensesAmt |
| End Year Balance | $756,411 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.57563 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.42437 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (1) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,129,346 | OtherCostOrOtherBasisAmt |
| Book Value | $1,129,346 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,483,316 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,816,822 | DepreciationAmt |
| Book Value | $7,666,494 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,547,445 | OtherCostOrOtherBasisAmt |
| Depreciation | $204,995 | DepreciationAmt |
| Book Value | $1,342,450 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,366,713 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,945,513 | DepreciationAmt |
| Book Value | $421,200 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $588,299 | OtherCostOrOtherBasisAmt |
| Depreciation | $588,299 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $10,559,490 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STUDENT HOUSING DEPOSITS | Desc |
| Amt | $124,500 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $124,500 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,714,521 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$605,894 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$605,894 | RevenueNotReportedAmt |
| Revenue Subtotal | $11,320,415 | RevenueSubtotalAmt |
| Other Revenues Not Included | $5,870,125 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $5,870,125 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $17,190,540 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,266,580 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $119,880 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $119,880 | ExpensesNotReportedAmt |
| Expenses Subtotal | $11,146,700 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $5,870,125 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $5,870,125 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $17,016,825 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART III, LINE 1A: | COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM DEACQUISITIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENT OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. |
| PART V, LINE 4: | THE COLLEGE INTENDED USE OF ENDOWMENT FUNDS IS TO PROVIDE A PREDICTABLE STREAM OF REVENUE TO PROGRAMS SUPPORTED BY ENDOWMENT FUNDS. |
| PART X, LINE 2: | ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" (MLTN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE COLLEGE MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 5,870,125. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING 119,880. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 5,870,125. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE COLLEGE DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM THE NORTHEASTERN REGION OF THE UNITED STATES. THE COLLEGE'S NONDISCRIMINATION POLICY IS IN ALL BROCHURES ETC. AND ON THE COLLEGE'S WEBSITE. THE WEBSITE IS A MAJOR TOOL IN RECRUITING STUDENTS WORLDWIDE. |
| SCHEDULE E, PART I, LINE 6 | THE COLLEGE RECEIVES FEDERAL AND STATE FINANCIAL AID FOR QUALIFIED STUDENTS AND DISBURSES THE FUNDS DIRECTLY TO THE QUALIFIED STUDENTS |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | AUCTION | Event1Nm |
| Gross Receipts Event1 | $201,233 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $115,650 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $85,583 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $15,800 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $40,411 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $63,669 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $201,233 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $115,650 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $85,583 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $15,800 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $40,411 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $63,669 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $119,880 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$34,297 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (4 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| NEED BASED SCHOLARSHIPS | 381 | $1,033,541 |
| MERIT BASED SCHOLARSHIPS | 347 | $4,167,336 |
| OTHER GRANTS | 50 | $531,458 |
| HOUSING GRANT | 90 | $137,790 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE COLLEGE REVIEWS AND MAKES SURE ALL STUDENTS RECEIVING GOVERNMENT GRANTS ARE ELIGIBLE TO RECEIVE THOSE GRANTS BEFORE DISBURSEMENT OF FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KURT STEINBERG | PersonNm |
| Title | PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $263,692 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $23,929 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $287,621 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS SERIES 2020A | |||||||
| A | 043431814 | 2020-02-28 | $3,595,000 | DEBT REFINANCE | 0 | 0 | 0 |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS SERIES 2020B | |||||||
| B | 043431814 | 2020-02-28 | $1,645,000 | DEBT REFINANCE | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 |
| B | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | 0 |
| B | 0 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JO BRODERICK | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | DEAN OF COLLEGE RELATIONS | RelationshipDescriptionTxt |
| Transaction | $7,093 | TransactionAmt |
| Transaction | THE KEY EMPLOYEE'S SPOUSE IS THE OWNER OF A COMPANY FROM WHICH THE COLLEGE PURCHASES PRINTING SERVICES AND SUPPLIES. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE COLLEGE'S FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE IT IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | TRUSTEES AND MANAGEMENT EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE PRESIDENT IS DETERMINED BY THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COLLEGE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. ITS AUDITED FINANCIAL STATEMENTS ARE POSTED ON ITS WEBSITE. |
| FORM 990, PART XI, LINE 9: | FUNDRAISING -119,880. |
| FORM 990, PART XII, LINE 2C | THE FINANCE COMMITTEE ASSUMES OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAD NOT CHANGED FROM PRIOR YEARS. |