2018-07-16T09:36:41-05:00 2017-08-31 GRANT THORNTON LLP 757 THIRD AVE 3RD FL NEW YORK NY 100172013 990 2016-09-01 510163080 Cambridge College Inc % JOHN SPINARD CAMB 9788681000 500 RUTHERFORD AVENUE BOSTON MA 02129 JOHN SPINARD VP OF FIN & ADMIN 6178681000 2018-07-16 true Daniel Romano P00504182 2125990100 2016 2022-09-23 18:48:47Z Deborah C Jackson 500 RUTHERFORD AVENUE BOSTON MA 02129 98977612 false X www.cambridgecollege.edu X 1974 MA THE MISSION OF CAMBRIDGE COLLEGE IS TO PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT, AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS. 14 13 599 13 0 839996 491983 25508914 22486080 2964157 64251656 869574 398482 30182641 87628201 2810391 791231 0 0 18512424 19450995 0 27591 585896 8432400 11809661 29755215 32079478 427426 55548723 30919846 102529245 11407023 27302194 19512823 75227051 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. false false 25295042 791231 22674872 FOR MORE THAN 40 YEARS CAMBRIDGE COLLEGE HAS BEEN A LEADER AND PIONEER IN ADULT LEARNING. WITH A MAIN CAMPUS IN CAMBRIDGE, MASSACHUSETTS, AND FOUR REGIONAL LOCATIONS NATIONWIDE, WE PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT, AND AFFORDABLE HIGHER EDUCATION TO A DIVERSE POPULATION OF ADULT LEARNERS. OUR MORE THAN 450 FULL-TIME AND PART-TIME FACULTY ARE SCHOLAR-PRACTITIONERS WHO BRING THEIR EXPERIENCE INTO THE CLASSROOM. EACH YEAR, WE ENROLL OVER 5,000 STUDENTS IN OUR UNDERGRADUATE, MASTERS, AND DOCTORAL DEGREE PROGRAMS AND CERTIFICATE OF ADVANCED GRADUATE STUDIES PROGRAMS. 25295042 true true false false false false false false false true true false false false true true true false true false false false false true false false false false true true false false false false false false false false false false false false false false false false false true X 73 0 true 599 true false false false false false false false false false false X 14 13 false false false false false false false true true false false true true true true true true true false false CA MA PR X X JOHN SPINARD 6178681000 500 RUTHERFORD AVENUE BOSTON MA 02129 Susan M Ifill Chair 1.5 0.0 X X 0 0 0 Allan Cohen Vice Chair 1.0 0.0 X X 0 0 0 Charles L Anderson MD Treasurer 1.0 0.0 X X 0 0 0 John K Dineen Clerk 1.0 0.0 X X 0 0 0 Pedro Arce Trustee 1.0 0.0 X 0 0 0 Virginia Loeb Trustee 1.0 0.0 X 0 0 0 Kevin McCall Trustee 1.0 0.0 X 0 0 0 Terence McCourt Trustee 1.0 0.0 X 0 0 0 April Ryan Trustee 1.0 0.0 X 0 0 0 James Segel Trustee 1.0 0.0 X 0 0 0 Thomas F Snyder Trustee 1.0 0.0 X 0 0 0 Jesse Solomon Trustee 1.0 0.0 X 0 0 0 Janet Whitla Trustee 1.0 0.0 X 0 0 0 Deborah C Jackson President 60.0 0.0 X X 355196 0 39924 Anna Catherine Koverola Provost/VP of Academic Affairs 50.0 0.0 X 193342 0 41494 Mark S Rotondo VP of Innovation & Strategy 50.0 0.0 X 161715 0 38433 John J Spinard VP of Finance & Admin 50.0 0.0 X 156513 0 41198 Carson Berglund VP of Institutional Advancem. 50.0 0.0 X 125332 0 35721 Jacqueline J Conrad VP, Marketing, Communications 50.0 0.0 X 105400 0 37128 Phillip E Page VP of Strategic Partnerships 50.0 0.0 X 103182 0 33124 Lauretta D Siggers VP of HR & Talent Development 50.0 0.0 X 113434 0 10868 Niti Seth Dean School of Psych & Counsel 50.0 0.0 X 132934 0 9666 Sheila Wright Stamm Dean, School of Education 50.0 0.0 X 122611 0 20058 Mary Ann Joseph Dean, School of Management 50.0 0.0 X 119454 0 19067 James S Lee Dean, School of Undergraduate 50.0 0.0 X 118532 0 34601 Sandra D Bridwell Professor 50.0 0.0 X 114863 0 20080 1922508 0 381362 20 false true false Wilson Architects Inc 374 Congress Street Suite 400 BOSTON MA 02210 Architect 340317 Done Right Building Services 4 Copley Place Suite 125 BOSTON MA 02116 Cleaning Service 319022 Hunter Protective Services 10 Mall Road Suite 125 BURLINGTON MA 01803 Security Services 212253 RoseChinitz Rose One Beacon Street 23rd Floor BOSTON MA 02108 Legal Services 198896 Ricoh Usa Inc PO Box 534777 ATLANTA GA 30353 Mail & Copy Srvcs 176841 7 491983 491983 TUITION AND FEES 611310 22486080 22486080 22486080 737385 737385 0 0 537498 327808 209690 0 209690 209690 5035874 69500000 4725625 6295978 310249 63204022 63514271 63514271 0 0 0 0 0 0 0 0 0 OTHER INCOME 611310 188792 188792 188792 87628201 22674872 64461346 0 791231 791231 0 0 1627191 600276 842774 184141 0 14536645 12957486 1361374 217785 840405 700946 126293 13166 1384448 1018380 348097 17971 1062306 956231 90077 15998 0 328274 328274 133312 133312 0 27591 27591 144042 144042 1102080 700177 349714 52189 1509774 1440995 31855 36924 583917 495481 85311 3125 479664 409914 69750 0 4636911 4082098 554813 137956 129696 7685 575 0 88678 45291 40977 2410 347335 41872 305463 0 637423 582742 54681 223330 8046 215284 BAD DEBT EXPENSE 638995 638995 LIBRARY COSTS 229905 229905 PROFESSIONAL MEMBERSHIPS 60090 10591 45364 4135 LICENSES, PERMITS, AND FEES 26617 8457 17270 890 501358 85227 407135 8996 32079478 25295042 6198540 585896 185474 177274 846125 69440423 844265 753885 2406545 2106501 0 0 0 0 0 0 0 0 815098 957748 16123937 7715870 5804910 8408067 19021678 20572795 0 0 0 0 0 0 995751 112552 30919846 102529245 2289398 7711573 0 0 0 0 0 0 0 0 0 0 571144 8496253 0 0 8546481 11094368 11407023 27302194 X 6711541 62658191 4885360 4924975 7915922 7643885 19512823 75227051 30919846 102529245 X 55548723 928521 -763016 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14926752 67797963 1161644 643810 6876395 76366154 14451700 891399 416347 0 0 14926752 14619294 1725 349871 519190 0 0 14451700 12450266 484370 1920289 235631 0 0 14619294 12203627 61075 982173 265378 0 0 12981497 0.84440 0.10010 0.05550 false false 120522 53230 67292 7289464 1013056 6276408 6782331 6471011 311320 1931620 178573 1753047 8408067 0 LINE OF CREDIT 9300000 CAPITAL LEASE PAYABLE 909116 TUITION DEPOSITS 829792 PERKINS FEDERAL CONTRIBUTION 55460 11094368 X 87186241 928521 -435208 493313 86692928 144042 791231 935273 87628201 31472013 327808 327808 31144205 144042 791231 935273 32079478 ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT CONSISTS OF 28 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. THE PURPOSE OF THE ENDOWMENT FUNDS ARE TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A SOURCE OF FUNDS FOR SCHOLARSHIPS AND OTHER EDUCATIONAL ACTIVITIES. ASC 740 SCHEDULE D, PART X, LINE 2 THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH UNCERTAIN POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XI, LINE 2D RENTAL EXPENSE $ 327,808 LOSS ON SPLIT INTEREST AGREEMENT $ (21,731) WRITE OFFS AND RECLASSIFICATIONS $ (741,285) ------------- TOTAL $ (435,208) OTHER SCHEDULE D, PARTS XI AND XII, LINE 4B SCHOLARSHIPS $ 791,231 RECONCILIATION OF EXPENSES TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE $ 327,808 true true true true true true true false false false false false false false false true false true RACIALLY NON-DISCRIMINATION POLICY SCHEDULE E, PART I, LINE 3 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 COLLEGES NON-DISCRIMINATORY POLICY CAN BE FOUND ON ITS WEBSITE AT HTTP://WWW.CAMBRIDGECOLLEGE.EDU/NON-DISCRIMINATION-AND-HARASSMENT. FINANCIAL AID OR ASSISTANCE FROM GOVERNMENT SCHEDULE E, PART I, LINE 6 U.S. DEPARTMENT OF EDUCATION STUDENT FINANCIAL AID CLUSTER: FEDERAL WORKSTUDY PROGRAM, FEDERAL PELL GRANTS, FEDERAL SUPPLEMENTAL OPPORTUNITY GRANTS, FEDERAL PERKINS LOAN PROGRAM, FEDERAL TEACH GRANTS, FEDERAL DIRECT LOANS. X X X true BRAKELEY BRISCOE 322 WEST BELLVUE AVENUE SAN MATEO CA 94402 CONSULTING false 0 27591 0 0 27591 0 AK CO MD MA MI NH NJ NY OH SC WA true SCHOLARSHIPS - SEE PART IV 111 168483 SCHOLARSHIPS - SEE PART IV 32 95682 SCHOLARSHIPS - SEE PART IV 2 2981 SCHOLARSHIPS - SEE PART IV 1 7500 FINANCIAL AID 179 278311 MASSACHUSETTS GRANTS 82 163150 WAIVERS, ALUMNI, & DISCOUNTS 100 75124 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S. SCHEDULE I, PART I, LINE 2 ALL FUNDS DONATED BY INDIVIDUALS, CORPORATIONS OR FOUNDATIONS ARE RECORDED AS TEMPORARILY RESTRICTED UNTIL FUNDS ARE IDENTIFIED AS APPLICABLE TO FINANCIAL AID FOR A STUDENT. FUNDS ARE SUBSEQUENTLY CREDITED TO THE STUDENT'S ACCOUNTS. ALL AWARDS ARE UNDER THE DIRECTION OF THE FINANCIAL AID OFFICE TO ENSURE COMPLIANCE WITH DONORS' DIRECTIONS. DESCRIPTION OF GRANT OR ASSISTANCE SCHEDULE I, PART III SCHOLARSHIPS FOR WOMEN MAKING LIFE CHANGES THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $168,483. SCHOLARSHIP FOR TEACHERS AND SOCIAL SERVICES STUDENTS IN THE BOSTON AREA SEEKING TO ADVANCE THEIR CAREERS THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $95,682. SCHOLARSHIPS FOR STUDENTS MAKING LIFE CHANGES THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $2,981. STUDENTS WITH HERITAGE FROM LAOS, BURMA, CAMBODIA, AND VIETNAM AMOUNTED TO $7,500. THE REMAINING $516,585 IS COMPRISED OF FINANCIAL AID ($278,311), MASSACHUSETTS GRANTS ($163,150), AND WAIVERS & DISCOUNTS ($75,124). X true true X X X false true false false false false false false false Deborah C Jackson President 280000 0 0 0 75196 0 21200 0 18724 0 395120 0 0 0 Anna Catherine Koverola Provost/VP of Academic Affairs 191451 0 0 0 1891 0 13480 0 28014 0 234836 0 0 0 Mark S Rotondo VP of Innovation & Strategy 146870 0 0 0 14845 0 12514 0 25919 0 200148 0 0 0 John J Spinard VP of Finance & Admin 154805 0 0 0 1708 0 13184 0 28014 0 197711 0 0 0 Carson Berglund VP of Institutional Advancem. 123905 0 0 0 1427 0 9821 0 25900 0 161053 0 0 0 James S Lee Dean, School of Undergraduate 107841 0 0 0 10691 0 9328 0 25273 0 153133 0 0 0 HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A PRESIDENT JACKSON RECEIVED A HOUSING ALLOWANCE OF $12,000. THIS BENEFIT IS INCLUDED IN TAXABLE WAGES REPORTED ON SCHEDULE J, PART II, COLUMN B(III). SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B THE COLLEGE PAID $65,186 TO PRESIDENT JACKSON UPON FULFILMENT OF HER ORIGINAL EMPLOYMENT CONTRACT ENDING 4/30/2016. THIS BENEFIT IS INCLUDED IN TAXABLE WAGES REPORTED IN SCHEDULE J, PART II, COLUMN B (III). FORM 1096 FORM 990, PART V, LINE 1A THE AMOUNT LISTED HAS BEEN REDUCED BY THE NUMBER OF FORMS 1098-T THAT WERE FILED. THE ORGANIZATION FILED 3,130 FORMS 1098-T. EXECUTIVE COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF TRUSTEES MAY CHOOSE TO ESTABLISH FROM AMONG ITS MEMBERS AN EXECUTIVE COMMITTEE. IF ESTABLISHED, THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRS OF ALL STANDING BOARD COMMITTEES, AS DESCRIBED IN SECTION 4.13(A), AND THE OFFICERS OF THE BOARD. THE CHAIR SHALL ACT AS THE CHAIR OF THE EXECUTIVE COMMITTEE, AND THE VICE CHAIR SHALL ACT AS VICE CHAIR OF THE EXECUTIVE COMMITTEE. THE PRESIDENT SHALL SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE, EX-OFFICIO, WITH VOTE. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES TO ADDRESS ROUTINE BUSINESS BETWEEN REGULAR BOARD MEETINGS; IT SHALL ASSIST AND ADVISE THE CHAIR AND THE PRESIDENT IN THEIR RESPONSIBILITIES TO HELP THE BOARD OF TRUSTEES FUNCTION EFFECTIVELY AND EFFICIENTLY; AND SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: SELECTION AND TERMINATION OF THE PRESIDENT; ADOPTION OF THE ANNUAL BUDGET; SELECTION AND REMOVAL OF TRUSTEES OR OFFICERS APPOINTED BY THE TRUSTEES; INCURRING OF SUBSTANTIAL INDEBTEDNESS ON BEHALF OF THE COLLEGE; CAPITAL EXPENDITURES THAT REQUIRE APPROVAL BY THE BOARD UNDER APPLICABLE BOARD OF TRUSTEES POLICY; RELOCATION OF THE COLLEGE OR MAJOR DECISIONS PERTAINING TO THE PRINCIPAL OFFICE OF THE COLLEGE; AND ANY ACTIONS WHICH REQUIRE BY LAW THE VOTE OF THE BOARD, INCLUDING AMENDMENT OF THE ARTICLES OF ORGANIZATION OR THE BYLAWS; MERGER OR CONSOLIDATION OF THE COLLEGE; DISSOLUTION OF THE COLLEGE; OR THE INITIATION OF BANKRUPTCY PROCEEDINGS. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS PREPARED AND REVIEWED BY A NATIONAL ACCOUNTING FIRM USING INFORMATION PROVIDED BY THE CONTROLLER. THE FORM IS SUBSEQUENTLY REVIEWED BY THE ASSISTANT CONTROLLER AND 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. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, SECTION B, LINE 12C 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 COMMITEE 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 FURHTER INFORMATION. IF A TRANSACTION OR RELATIONSHIP REQUIRES A VOTE, THE INTERESTED PARTY SHOULD NOT BE PRESENT AT THE TIME OF THE VOTE. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF 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. THE COMPENSATION OF THE PREVIOUS PRESIDENT IS ALSO USED AS A GUIDE. A WRITTEN CONTRACT IS NEGOTIATED AND THE EMPLOYMENT AND COMPENSATION PACKAGE IS THEN APPROVED BY THE BOARD OF TRUSTEES. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, SECTION C, LINE 19 CAMBRIDGE COLLEGE MAKES AVAILABLE COPIES OF ITS BY-LAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST. SALE OF LAND AND BUILDING FORM 990, PART VIII, LINES 7A-7C, COLUMN (II) DURING FISCAL YEAR 2017, THE COLLEGE SOLD THE LAND AND BUILDINGS ASSOCIATED WITH ITS CAMBRIDGE, MASSACHUSETTS FACILITY AND OPENED A NEW LOCATION IN BOSTON, MASSACHUSETTS. THE SALE GENERATED GROSS PROCEEDS OF APPROXIMATELY $69.5 MILLION AND THE RELATED GAIN FROM THE SALE IS REFLECTED IN THE STATEMENT OF ACTIVITIES AS GAIN ON SALE OF PROPERTY AND EQUIPMENT. NET PROCEEDS FROM THE SALE HAVE BEEN DESIGNATED BY THE BOARD OF TRUSTEES FOR CERTAIN OPERATING EXPENSES AND STRATEGIC INITIATIVES. INCLUDED IN THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED AUGUST 31, 2017 IS APPROXIMATELY $6.9 MILLION OF AMOUNTS RELEASED FROM THE BOARD DESIGNATED FUNDS. RECONCILIATION OF NET ASSETS AND FUND BALANCES FORM 990, PART XI, LINE 9 LOSS ON SPLIT INTEREST AGREEMENT $ (21,731) WRITE OFFS AND RECLASSIFICATIONS $ (741,285) ------------- TOTAL $ (763,016)