MERRIMACK COLLEGE: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- MERRIMACK COLLEGE (EIN 04-2103731)
- Tax period
- 2013-07-01 to 2014-06-30
- Filed
- 2015-05-13
- IRS object ID
- 201531339349301728
- Schema version
- 2013v4.0
- 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 C
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-05-13T15:07:56-05:00 | ReturnTs |
| Tax Period End | 2014-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 75 STATE STREET | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02109 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103731 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Merrimack College | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % WILLIAM KLINE | InCareOfNm |
| Business Name Control | MERR | BusinessNameControlTxt |
| Phone | 9788375000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 Turnpike Street | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | North Andover | City |
| State | MA | State |
| ZIP Code | 01845 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | William Kline | PersonNm |
| Person Title | VP of Finance and CFO | PersonTitleTxt |
| Phone | 9788375000 | PhoneNum |
| Signature | 2015-02-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Robert J Butler jr | PreparerPersonNm |
| PTIN | P00037953 | PTIN |
| Phone | 9788375000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Christopher Hopey | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 Turnpike Street | AddressLine1 |
| City | North Andover | City |
| State | MA | State |
| ZIP Code | 01845 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $129,103,062 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.merrimack.edu | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1947 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | to prepare students to adapt creatively tomorrow's tomorrow's realities through excellence in the liberal arts, sciences, and the professions. | ActivityOrMissionDesc |
| Voting Members Governing Body | 29 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 28 | VotingMembersIndependentCnt |
| Total Employee | 1711 | TotalEmployeeCnt |
| Total Volunteers | 53 | TotalVolunteersCnt |
| Total Gross UBI | $1,014,687 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$249,087 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,189,647 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,386,734 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $98,731,497 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $116,393,196 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,317,433 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,751,303 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,030,891 | PYOtherRevenueAmt |
| CY Other Revenue | $3,593,522 | CYOtherRevenueAmt |
| PY Total Revenue | $106,269,468 | PYTotalRevenueAmt |
| CY Total Revenue | $127,124,755 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $32,457,944 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $38,549,202 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $42,155,653 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $45,720,937 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $1,928,426 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $30,602,077 | PYOtherExpensesAmt |
| CY Other Expenses | $36,845,749 | CYOtherExpensesAmt |
| PY Total Expenses | $105,215,674 | PYTotalExpensesAmt |
| CY Total Expenses | $121,115,888 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,053,794 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $6,008,867 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $155,591,280 | TotalAssetsBOYAmt |
| Total Assets EOY | $168,103,963 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $89,355,436 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $90,729,620 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $66,235,844 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $77,374,343 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | INSPIRED BY THE CATHOLIC FAITH AND THE AUGUSTINIAN TRADITION, OUR VISION IS TO: A. PREPARE STUDENTS TO ADAPT CREATIVELY TO TOMORROW'S REALITIES THROUGH EXCELLENCE IN THE LIBERAL ARTS, SCIENCES, AND THE PROFESSIONS. B. BUILD A COMMUNITY OF SCHOLARS WELCOMING AND RESPECTING A DIVERSITY OF BACKGROUNDS, EXPERIENCES, BELIEFS, AND PERSPECTIVES. C. CULTIVATE THE INTELLECTUAL, MORAL, SPIRITUAL, PHYSICAL, AND PERSONAL AWARENESS NEEDED TO MAKE WISE CHOICES FOR LIFE, CAREER, AND SERVICE. D. ENCOURAGE AND SUPPORT SCHOLARLY WORK THAT CONTRIBUTES TO THE WISDOM ON WHICH SOCIETY BASES ITS DECISIONS. E. ENGAGE OTHER EDUCATIONAL INSTITUTIONS, INDUSTRIES, AND AGENCIES OF SOCIAL CHANGE IN COLLABORATIVE EFFORTS FOSTERING A JUST, PEACEFUL, AND SUSTAINABLE WORLD. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $65,378,116 | ExpenseAmt |
| Grant | $38,549,202 | GrantAmt |
| Revenue | $93,523,847 | RevenueAmt |
| Desc | Educational instruction: Merrimack college offers undergraduate degrees in the liberal arts, business, science and engineering, and education programs in addition to offering masters programs in education and a range of certificate, licensure, and degree completion offerings. The college community includes approximately 2,603 day undergraduate students, 195 evening undergraduate students, and 309 graduate students. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $16,252,888 | ExpenseAmt |
| Revenue | $22,869,349 | RevenueAmt |
| Desc | Auxiliary services: a primarily residential college, Merrimack houses students in a variety of living arrangements, from residence halls for first-year students to apartments for seniors. Residential life provides a living/learning environment, promoting personal growth and encouraging students to develop their whole selves. Merrimack dining service seeks to provide the finest quality meals and services to the entire Merrimack community, students, faculty, staff, and guests. The college also has athletic facilities, including baseball, softball, football, basketball, and an ice arena. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $18,816,602 | ExpenseAmt |
| Desc | Student services: Merrimack College provides various services to the student body, including counseling, career guidance, financial aid, registrar, student activities, campus ministry, health services and athletic programs. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $7,658,769 | ExpenseAmt |
| Desc | Academic Support Expenditures | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $7,658,769 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $108,106,375 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (true) | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (true) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | Yes (true) | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (true) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 4195 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 1711 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (true) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (true) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 29 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 28 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM KLINE | PersonNm |
| Phone | 9788375134 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 315 TURNPIKE STREET | AddressLine1 |
| City | North Andover | City |
| State | MA | State |
| ZIP Code | 01845 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionAGrp (37 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| Christopher Hopey | |||||||
| President | 40.0 | Yes (X) | Yes (X) | $498,282 | $0 | $45,205 | |
| Timothy R Murphy | |||||||
| Chairman | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Michael K Crowe | |||||||
| Vice Chair | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Gary N McCloskey | |||||||
| Vice Chair | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Marybeth Mcinnis | |||||||
| Secretary | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Patrick B Maraghy | |||||||
| Treasurer | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Rev Anthony M Genovese | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Alfred J Arcidi | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Philip M Arcidi | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| John T Boyce | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Thomas Carroll | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Rev Peter M Donohue | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| F Ken Duane | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Rev Joseph L Farrell | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Mary Gorham Franco | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Rev William T Garland | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Paul Jordan | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Karen Kalil-Brown | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Thomas J Kinton Jr | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| William P Leahy | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Timothy McCoy | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Brian Mitchell | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Hoffsman Opsino | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Jack Pasini | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Andrea Robertson | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Michael E Shunney | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Lee D Slattery | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Martin L Smith OSA | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| Carlos Urbina OSA | |||||||
| Trustee | 1.0 | Yes (X) | $0 | $0 | $0 | ||
| William Kline | |||||||
| VP of Finance and CFO | 40.0 | Yes (X) | $144,644 | $0 | $26,798 | ||
| Alexa Abowitz | |||||||
| VP of Admin and Legal Counsel | 40.0 | Yes (X) | $201,603 | $0 | $32,347 | ||
| Jeffrey Doggett | |||||||
| Chief Operating Officer | 40.0 | Yes (X) | $200,623 | $0 | $18,860 | ||
| Josephine Modica-Napolitano | |||||||
| Interim Provost | 40.0 | $231,102 | $0 | $18,398 | Yes (X) | ||
| Mark Dennehy | |||||||
| Asst Ath Dir. & Hockey Coach | 40.0 | $219,242 | $0 | $40,391 | Yes (X) | ||
| Mark Cordano | |||||||
| Dean Girard Business School | 40.0 | $185,754 | $0 | $23,436 | Yes (X) | ||
| Linda Murphy | |||||||
| Asst VP of Admin & Personnel | 40.0 | $163,950 | $0 | $13,927 | Yes (X) | ||
| Courtney Luongo | |||||||
| Asst VP of Individual Giving | 40.0 | $154,613 | $0 | $2,168 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,999,813 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $221,530 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 40 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Grant Thornton | |||||
| 75 State Street | BOSTON | MA | 02109 | Accounting | $687,763 |
| Brothers of the Order of Hermits | |||||
| 196 Elm Street | ANDOVER | MA | 01810 | Adm & Instructional | $383,278 |
| Jenzabar Inc | |||||
| PO Box 845939 | BOSTON | MA | 02284 | IT Services | $244,694 |
| Holland Knight | |||||
| 10 St James Avenue | BOSTON | MA | 02116 | Legal | $244,681 |
| Eduventures Inc | |||||
| 800 Boylston Street | BOSTON | MA | 02199 | Consulting | $150,120 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $18,000 | FundraisingAmt |
| Government Grants | $1,188,986 | GovernmentGrantsAmt |
| All Other Contributions | $3,179,748 | AllOtherContributionsAmt |
| Noncash Contributions | $38,417 | NoncashContributionsAmt |
| Total Contributions | $4,386,734 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $93,523,847 | $93,523,847 |
| ROOM AND BOARD | 721000 | $22,869,349 | $22,869,349 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $116,393,196 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,375,185 | TotalRevenueColumnAmt |
| Exclusion | $1,375,185 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,329,659 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,933,443 | SecuritiesAmt |
| Other | $20,098 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,396,216 | SecuritiesAmt |
| Other | -$20,098 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,376,118 | TotalRevenueColumnAmt |
| Exclusion | $1,376,118 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $34,640 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $18,000 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $24,766 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,874 | TotalRevenueColumnAmt |
| Exclusion | $9,874 | ExclusionAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| ATHLETIC EVENT TICKET SALES | 900099 | $246,466 | $246,466 | |
| CONFERENCE & EVENT RENTALS | 900099 | $389,577 | $389,577 | |
| ICE RINK RENTALS | 900099 | $625,110 | $625,110 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,322,495 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,322,495 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $3,583,648 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $127,124,755 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $118,962,157 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,014,687 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,761,177 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,221,133 | TotalAmt |
| Program Services | $38,221,133 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $328,069 | TotalAmt |
| Program Services | $328,069 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,332,633 | TotalAmt |
| Program Services | $910,464 | ProgramServicesAmt |
| Management And General | $145,439 | ManagementAndGeneralAmt |
| Fundraising | $276,730 | FundraisingAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,853,779 | TotalAmt |
| Program Services | $30,053,044 | ProgramServicesAmt |
| Management And General | $3,982,068 | ManagementAndGeneralAmt |
| Fundraising | $818,667 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,979,457 | TotalAmt |
| Program Services | $1,644,103 | ProgramServicesAmt |
| Management And General | $275,568 | ManagementAndGeneralAmt |
| Fundraising | $59,786 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,157,461 | TotalAmt |
| Program Services | $4,283,700 | ProgramServicesAmt |
| Management And General | $714,269 | ManagementAndGeneralAmt |
| Fundraising | $159,492 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,397,607 | TotalAmt |
| Program Services | $2,032,874 | ProgramServicesAmt |
| Management And General | $311,709 | ManagementAndGeneralAmt |
| Fundraising | $53,024 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,127,361 | TotalAmt |
| Management And General | $1,127,361 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $409,839 | TotalAmt |
| Management And General | $409,839 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,252 | TotalAmt |
| Management And General | $43,252 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,123,381 | TotalAmt |
| Program Services | $2,368,452 | ProgramServicesAmt |
| Management And General | $651,939 | ManagementAndGeneralAmt |
| Fundraising | $102,990 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $662,154 | TotalAmt |
| Program Services | $651,883 | ProgramServicesAmt |
| Management And General | $10,271 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,617,930 | TotalAmt |
| Program Services | $1,119,400 | ProgramServicesAmt |
| Management And General | $353,404 | ManagementAndGeneralAmt |
| Fundraising | $145,126 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $723,666 | TotalAmt |
| Program Services | $427,808 | ProgramServicesAmt |
| Management And General | $287,690 | ManagementAndGeneralAmt |
| Fundraising | $8,168 | FundraisingAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,958,986 | TotalAmt |
| Program Services | $2,743,563 | ProgramServicesAmt |
| Management And General | $201,350 | ManagementAndGeneralAmt |
| Fundraising | $14,073 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,696,202 | TotalAmt |
| Program Services | $1,592,197 | ProgramServicesAmt |
| Management And General | $35,855 | ManagementAndGeneralAmt |
| Fundraising | $68,150 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,878 | TotalAmt |
| Program Services | $87,557 | ProgramServicesAmt |
| Management And General | $74,211 | ManagementAndGeneralAmt |
| Fundraising | $6,110 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,764,853 | TotalAmt |
| Program Services | $2,704,875 | ProgramServicesAmt |
| Management And General | $59,743 | ManagementAndGeneralAmt |
| Fundraising | $235 | FundraisingAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,596,952 | TotalAmt |
| Program Services | $5,309,050 | ProgramServicesAmt |
| Management And General | $287,741 | ManagementAndGeneralAmt |
| Fundraising | $161 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $872,928 | TotalAmt |
| Program Services | $820,915 | ProgramServicesAmt |
| Management And General | $47,849 | ManagementAndGeneralAmt |
| Fundraising | $4,164 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| FOOD SERVICE EXPENSE | $6,959,490 | $6,438,303 | $395,258 | $125,929 |
| EQUIPMENT RENTAL & MAINTENANCE | $3,968,954 | $3,202,664 | $748,384 | $17,906 |
| SPECIAL EVENT EXPENSE | $836,323 | $678,636 | $116,422 | $41,265 |
| LIBRARY BOOKS AND PUBLICATIONS | $530,945 | $530,945 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,784,655 | TotalAmt |
| Program Services | $1,956,740 | ProgramServicesAmt |
| Management And General | $801,465 | ManagementAndGeneralAmt |
| Fundraising | $26,450 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,115,888 | TotalAmt |
| Program Services | $108,106,375 | ProgramServicesAmt |
| Management And General | $11,081,087 | ManagementAndGeneralAmt |
| Fundraising | $1,928,426 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,317,989 | BOYAmt |
| EOY | $14,039,288 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,102,804 | BOYAmt |
| EOY | $2,404,912 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,227,713 | BOYAmt |
| EOY | $3,152,449 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,048 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $963,598 | BOYAmt |
| EOY | $1,025,042 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $175,353,653 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $83,603,655 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,957,898 | BOYAmt |
| EOY | $91,749,998 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,602,561 | BOYAmt |
| EOY | $44,288,261 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,350,124 | BOYAmt |
| EOY | $2,808,553 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,065,545 | BOYAmt |
| EOY | $8,635,460 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,591,280 | BOYAmt |
| EOY | $168,103,963 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,640,126 | BOYAmt |
| EOY | $10,536,916 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,058,647 | BOYAmt |
| EOY | $8,887,209 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,784,743 | BOYAmt |
| EOY | $67,388,201 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $168,990 | BOYAmt |
| EOY | $169,599 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,702,930 | BOYAmt |
| EOY | $3,747,695 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,355,436 | BOYAmt |
| EOY | $90,729,620 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,261,163 | BOYAmt |
| EOY | $38,983,797 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,059,037 | BOYAmt |
| EOY | $18,160,849 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,915,644 | BOYAmt |
| EOY | $20,229,697 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,235,844 | BOYAmt |
| EOY | $77,374,343 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,591,280 | BOYAmt |
| EOY | $168,103,963 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $6,008,867 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,181,660 | NetUnrlzdGainsLossesInvstAmt |
| Investment Expense | -$43,252 | InvestmentExpenseAmt |
| Other Changes In Net Assets | -$8,776 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbyingGrp | |
| Total Direct Lobbying | TotalDirectLobbyingGrp | |
| Total Lobbying Expend | TotalLobbyingExpendGrp | |
| Other Exempt Purpose Expend | OtherExemptPurposeExpendGrp | |
| Total Exempt Purpose Expend | TotalExemptPurposeExpendGrp | |
| Lobbying Nontaxable Amount | LobbyingNontaxableAmountGrp | |
| Grassroots Nontaxable | GrassrootsNontaxableGrp | |
| Tot Lbbyng Grassroot Mns Non Tx | TotLbbyngGrassrootMnsNonTxGrp | |
| Tot Lbby Expend Mns Lbbyng Non Tx | TotLbbyExpendMnsLbbyngNonTxGrp | |
| Volunteers | false | VolunteersInd |
| Paid Staff Or Management | false | PaidStaffOrManagementInd |
| Media Advertisements | false | MediaAdvertisementsInd |
| Mailings Members | false | MailingsMembersInd |
| Publications Or Broadcast | false | PublicationsOrBroadcastInd |
| Grants Other Organizations | false | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | false | DirectContactLegislatorsInd |
| Rallies Demonstrations | false | RalliesDemonstrationsInd |
| Other Activities | Yes (true) | OtherActivitiesInd |
| Not Described Section501c3 | false | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | LOBBYING ACTIVITIES | FormAndLineReferenceDesc |
| Explanation | PART II-B, LINE 1I The college is a member in certain professional organizations including the National Association of College and University Business Officers, and other regional organizations. A portion of these membership dues may be considered lobbying expenses, but the college has not made any internal allocation of such dues. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $39,457,566 | BeginningYearBalanceAmt |
| Contributions | $404,889 | ContributionsAmt |
| Investment Earnings Or Losses | $7,789,877 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,020,294 | GrantsOrScholarshipsAmt |
| Other Expenditures | $67,501 | OtherExpendituresAmt |
| End Year Balance | $46,564,537 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $35,083,804 | BeginningYearBalanceAmt |
| Contributions | $1,169,317 | ContributionsAmt |
| Investment Earnings Or Losses | $5,378,020 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $932,851 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,240,724 | OtherExpendituresAmt |
| End Year Balance | $39,457,566 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $37,192,284 | BeginningYearBalanceAmt |
| Contributions | $576,036 | ContributionsAmt |
| Investment Earnings Or Losses | $528,977 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $852,185 | GrantsOrScholarshipsAmt |
| Other Expenditures | $2,361,308 | OtherExpendituresAmt |
| End Year Balance | $35,083,804 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $30,837,487 | BeginningYearBalanceAmt |
| Contributions | $379,215 | ContributionsAmt |
| Investment Earnings Or Losses | $6,795,911 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $820,229 | GrantsOrScholarshipsAmt |
| Other Expenditures | $0 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $37,192,384 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $28,045,769 | BeginningYearBalanceAmt |
| Contributions | $514,113 | ContributionsAmt |
| Investment Earnings Or Losses | $3,286,043 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $878,865 | GrantsOrScholarshipsAmt |
| Other Expenditures | $129,573 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $30,837,487 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.24000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.43000 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.33000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | false | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $213,318 | InvestmentCostOrOtherBasisAmt |
| Book Value | $213,318 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $129,236,814 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $47,876,999 | DepreciationAmt |
| Book Value | $81,359,815 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,414,254 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $635,869 | DepreciationAmt |
| Book Value | $778,385 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $34,234,909 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $28,760,885 | DepreciationAmt |
| Book Value | $5,474,024 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $10,254,358 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $6,329,902 | DepreciationAmt |
| Book Value | $3,924,456 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $91,749,998 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DEPOSITS WITH BOND TRUSTEES | $7,574,231 |
| CASH SURRENDER VALUE OF SDLI | $451,229 |
| OTHER ASSETS | $610,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $8,635,460 | TotalBookValueOtherAssetsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | REFUNDABLE ADV. - US GOV'T GRANTS | Desc |
| Amt | $3,747,695 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,747,695 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $132,235,901 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $5,138,408 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$8,776 | OtherRevenueAmt |
| Revenue Not Reported | $5,129,632 | RevenueNotReportedAmt |
| Revenue Subtotal | $127,106,269 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $43,252 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$24,766 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $18,486 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $127,124,755 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $121,097,402 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $24,766 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $24,766 | ExpensesNotReportedAmt |
| Expenses Subtotal | $121,072,636 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $43,252 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $43,252 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $121,115,888 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Intended Uses of Endowment Funds | Schedule D, Part V, Line 4 The College maintains and spends its endowment funds prudently under the guidelines of the laws of the Commonwealth of Massachusetts in order to maximize investment return while preserving donor corpus. All uses of endowment fund earnings are in accordance with donor intent consistent with institutional mission. Endowment funds primarily provide for the following: student financial aid, student services, academic support, athletic programs and capital projects. |
| FIN 48- ASC 470 | 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 positions that are material to the financial statements. |
| Supplemental Description - Other | Schedule D, Part XI, Line 2d Net change in split interest value ($8,776) ______________ Total ($8,776) |
| Supplemental Description - Other | Schedule D, Part XI, Line 4b and Part XII, Line 2d Fundraising expenses included on Form 990, Part VIII: $24,766 |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (true) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Publication of Racially Nondiscriminatory Policy | Schedule E, Part I, Line 3 Merrimack College does not discriminate in admission or access to any of its educational programs or activities. The College's nondiscriminatory policy is available on the college's website. |
| Government Assistance | Schedule E, Part I, Line 6a The college received federal title IV monies from the United States Department of Education as well as from various state agencies. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (2 entries)
| RegionRegionTxt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|
| East Asia and the Pacific | Program Services | Study Abroad | $112,550 |
| Europe (Including Iceland and Greenland) | Program Services | Study Abroad | $1,035,417 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Spent | $1,147,967 | SubtotalSpentAmt |
| Total Spent | $1,147,967 | TotalSpentAmt |
Foreign Individuals Grants ForeignIndividualsGrantsGrp (2 entries)
| Type Of AssistanceTypeOfAssistanceTxt | RegionRegionTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt | Manner Of Cash DisbursementMannerOfCashDisbursementTxt |
|---|---|---|---|---|
| Scholarship Aid | East Asia and the Pacific | 5 | $37,264 | Acct Credit |
| Scholarship Aid | Europe (Including Iceland and Greenland) | 36 | $290,805 | Acct Credit |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | false | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | false | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | false | PassiveForeignInvestmestCoInd |
| Foreign Partnership | false | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Procedure for Monitoring Use of Grant Funds Outside U.S. | FormAndLineReferenceDesc |
| Explanation | Schedule F, Part I, Line 2 The College provides certain scholarship aid to students while participating in study abroad programs. Eligibility for the aid is determined prior to disbursement and is monitored periodically throughout the term of the grant by the College's Office of Financial Aid. | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | Golf Tournament | NameOfEvent1Amt |
| Gross Receipts Event1 | $52,640 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $18,000 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $34,640 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $20,054 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $56 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $4,656 | OtherDirectExpensesEvent1Amt |
| Other Events Total | 0 | OtherEventsTotalCnt |
| Gross Receipts Total | $52,640 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $18,000 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $34,640 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $20,054 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $56 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $4,656 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $24,766 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $9,874 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Student Scholarships | GrantTypeTxt |
| Recipient | 2605 | RecipientCnt |
| Cash Grant | $38,221,133 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Procedure for Monitoring Use of Grant Funds Inside U.S. | FormAndLineReferenceDesc |
| Explanation | Schedule I, Part I, Line 2 A report is run at the end of each semester to review each student's cumulative GPA and progress toward their degree. Students receiving merit awards who fail to achieve good academic standing are reviewed for alternative institutional funding. Every effort is made to find alternative funding for students not meeting good academic standing. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Christopher Hopey | ||||||||||||||
| President | $492,820 | $0 | $0 | $0 | $5,462 | $0 | $21,675 | $0 | $23,530 | $0 | $543,487 | $0 | $0 | $0 |
| William Kline | ||||||||||||||
| VP of Finance and CFO | $143,662 | $0 | $0 | $0 | $982 | $0 | $11,903 | $0 | $14,895 | $0 | $171,442 | $0 | $0 | $0 |
| Alexa Abowitz | ||||||||||||||
| VP of Admin and Legal Counsel | $201,478 | $0 | $0 | $0 | $125 | $0 | $16,237 | $0 | $16,110 | $0 | $233,950 | $0 | $0 | $0 |
| Jeffrey Doggett | ||||||||||||||
| Chief Operating Officer | $200,498 | $0 | $0 | $0 | $125 | $0 | $10,998 | $0 | $7,862 | $0 | $219,483 | $0 | $0 | $0 |
| Josephine Modica-Napolitano | ||||||||||||||
| Interim Provost | $230,586 | $0 | $0 | $0 | $516 | $0 | $17,798 | $0 | $600 | $0 | $249,500 | $0 | $0 | $0 |
| Mark Dennehy | ||||||||||||||
| Asst Ath Dir. & Hockey Coach | $219,062 | $0 | $0 | $0 | $180 | $0 | $18,063 | $0 | $22,328 | $0 | $259,633 | $0 | $0 | $0 |
| Mark Cordano | ||||||||||||||
| Dean Girard Business School | $185,466 | $0 | $0 | $0 | $288 | $0 | $15,628 | $0 | $7,808 | $0 | $209,190 | $0 | $0 | $0 |
| Linda Murphy | ||||||||||||||
| Asst VP of Admin & Personnel | $98,836 | $0 | $0 | $0 | $65,114 | $0 | $8,554 | $0 | $5,373 | $0 | $177,877 | $0 | $0 | $0 |
| Courtney Luongo | ||||||||||||||
| Asst VP of Individual Giving | $154,500 | $0 | $0 | $0 | $113 | $0 | $2,168 | $0 | $0 | $0 | $156,781 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Social Club Dues | Schedule J, Part I, Line 1a Social club dues were paid for on behalf of the president. This expense was incurred for business purposes, and was not treated as taxable income. |
| Severance or change of control | Schedule J, Part I, Line 4a Linda Murphy received a severance payment totalling $64,913. The College is not obligated to pay any additional amounts in future periods. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Massachusetts Development Finance Agency | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 043431814 | BondIssuerEIN |
| CUSIP | 57583USE9 | CUSIPNum |
| Bond Issued | 2012-08-13 | BondIssuedDt |
| Issue Price | $64,209,436 | IssuePriceAmt |
| Purpose | Refund bond issue and construction | PurposeDesc |
| Defeased | false | DefeasedInd |
| On Behalf Of Issuer | Yes (true) | OnBehalfOfIssuerInd |
| Pool Financing | false | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $0 | RetiredAmt |
| Bond Defeased | $0 | BondDefeasedAmt |
| Total Proceeds | $64,209,436 | TotalProceedsAmt |
| In Reserve Fund | $4,194,250 | InReserveFundAmt |
| Capitalized Interest | $1,466,508 | CapitalizedInterestAmt |
| Refunding Escrow | $32,886,024 | RefundingEscrowAmt |
| Issuance Costs From Proceeds | $973,098 | IssuanceCostsFromProceedsAmt |
| Credit Enhancement | $0 | CreditEnhancementAmt |
| Working Capital Expenditures | $0 | WorkingCapitalExpendituresAmt |
| Capital Expenditures | $24,689,556 | CapitalExpendituresAmt |
| Other Spent Proceeds | $0 | OtherSpentProceedsAmt |
| Unspent | $0 | UnspentAmt |
| Substantial Completion | 2013 | SubstantialCompletionYr |
| Current Refunding | Yes (true) | CurrentRefundingInd |
| Advance Refunding | false | AdvanceRefundingInd |
| Final Allocation Made | false | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (true) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | false | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | false | MgmtContractBondFincdPropInd |
| Any Research Agreements | false | AnyResearchAgreementsInd |
| Private Bus Use By Others | 0.00000 | PrivateBusUseByOthersPct |
| Private Bus Concerning UBI | 0.00000 | PrivateBusConcerningUBIPct |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUsePct |
| Bond Iss Meet Prvt Sec Pymt Test | false | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedPropInd |
| Remedial Action Taken | false | RemedialActionTakenInd |
| Procs Nonqualified Bond Remdtd | Yes (true) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiledInd |
| Rebate Not Due Yet | Yes (true) | RebateNotDueYetInd |
| Variable Rate Issue | false | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | false | HedgeIdentifiedInBksAndRecInd |
Hedge Provider Name HedgeProviderName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 0 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGICInd |
GIC Provider Name GICProviderName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 0 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Proceeds Invested | false | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (true) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (true) | ProceduresCorrectiveActionInd |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArtGrp | |
| Art Historical Treasures | ArtHistoricalTreasuresGrp | |
| Art Fractional Interest | ArtFractionalInterestGrp | |
| Books And Publications | BooksAndPublicationsGrp | |
| Clothing And Household Goods | ClothingAndHouseholdGoodsGrp | |
| Cars And Other Vehicles | CarsAndOtherVehiclesGrp | |
| Boats And Planes | BoatsAndPlanesGrp | |
| Intellectual Property | IntellectualPropertyGrp |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 5 | ContributionCnt |
| Noncash Contributions Rpt F990 | $28,405 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Securities Closely Held Stock SecuritiesCloselyHeldStockGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $10,012 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | NBV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Secur Prtnrshp Trust Intrsts | SecurPrtnrshpTrustIntrstsGrp | |
| Securities Miscellaneous | SecuritiesMiscellaneousGrp | |
| Qualified Contrib Hist Struct | QualifiedContribHistStructGrp | |
| Qualified Contrib Other | QualifiedContribOtherGrp | |
| Real Estate Residential | RealEstateResidentialGrp | |
| Real Estate Commercial | RealEstateCommercialGrp | |
| Real Estate Other | RealEstateOtherGrp | |
| Collectibles | CollectiblesGrp | |
| Food Inventory | FoodInventoryGrp | |
| Drugs And Medical Supplies | DrugsAndMedicalSuppliesGrp | |
| Taxidermy | TaxidermyGrp | |
| Historical Artifacts | HistoricalArtifactsGrp | |
| Scientific Specimens | ScientificSpecimensGrp | |
| Archaeological Artifacts | ArchaeologicalArtifactsGrp | |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (true) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Third Party Assistance of Noncash Contributions | Schedule M, Part I, Line 32A The college utilizes a registered investment advisor to immediately sell all gifts of stock. |
| NUMBER OF ITEMS RECEIVED | PART I, COLUMN B AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Trustee Relationships | Form 990, Part VI, Line 2 Alfred J. Arcidi and Philip M. Arcidi have a family relationship. |
| Management Agreement | Form 990, Part VI, Line 3 Merrimack College has entered into a management agreement with R Gallant Associates LLC under which R Gallant Associates LLC is responsible for managing the operation of Ice Rink premises on the College campus. In calendar year 2013, no compensation was provided by the management company to any of the College's current or former officers, directors, trustees, key employees or highest compensated employees listed in Part VII, Section A. The agreement was made at arm's length. |
| Form 990 Review Process | Form 990, Part VI, Line 11b Information for Form 990 is gathered and compiled by the department of fiscal affairs and used to populate the tax return in conjunction with tax advisors from a national accounting firm. The resulting draft tax return is forward to the President, in house legal counsel, and the audit and finance committee of the Board of Trustees for their review before filing. A copy of the Form 990 is provided to every voting board member prior to filing with the IRS. |
| Conflict of Interest Policy Monitoring & Enforcement | Form 990, Part VI, Line 12c A trustee shall be considered to have conflict of interest if (A) such trustee has existing or potential financial or other interest which impairs or might reasonably appear to impair such member's independent, unbiased judgment in the discharge of their responsibilities to the college, or (B) such trustee is aware that a member of his or her family (which for purposes of this paragraph shall be a spouse or child) or any organization in which such trustee (or member of his or her family) is an officer, director, employee, member, partner, trustee, or controlling stockholder, has such existing or potential financial or other interests. All trustees shall disclose to the board any possible conflict of interest at the earliest practicable time. No trustee shall vote on any matter under consideration at a board of committee meeting in which such trustee has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the trustee having a conflict of interest abstained from voting. Any trustee who is uncertain whether they have a conflict of interest in any matter may request the board or committee to determine whether a conflict of interest exists. The board or committee shall resolve the question by majority vote. Violation of this policy may result in removal from office. Every year, the college requires the President, VP for Finance and CFO, and Board Members to complete a conflict of interest questionnaire. These documents are reviewed by the Department of Fiscal Affairs and any violations are addressed as necessary. |
| Process for Determining Compensation | Form 990, Part VI, Line 15a According to Article VII, Section 7 of the Merrimack College By-Laws, the compensation committee shall review the compensation and benefits of the officers of the corporation who are employees of the College and make recommendations for action by the board. The board of trustees' compensation committee uses a published salary survey taken from regional academic institutions comparable to Merrimack to benchmark the President's salary utilizing CUPA and other industry standards data. In addition to receiving salary data, the compensation committee conducts a presidential evaluation process in which all members of the board of trustees are asked to input their opinions regarding the President's achievement towards goals and expectations established annually by the board. Once consensus is reached regarding performance, a similar discussion is held concerning compensation relative to achievements and established objectives. IN THE ABSENCE OF THE PRESIDENT, The committee presents its recommendations to the board of trustees in executive session for review and approval. The board of trustees chair and the chair of the compensation committee then meets with the President to discuss trustees review. Compensation is also discussed for the upcoming year and documented. |
| Process for Determining Compensation | Form 990, Part VI, Line 15b The compensation committee is also responsible for working with the president in the evaluation and compensation for officers of Merrimack College. The president works with senior management to establish goals and objectives and to conduct an annual performance appraisal based on the goals set. The board of trustees compensation committee uses a published salary survey from regional academic institutions comparable to Merrimack to benchmark the officer's salary utilizing CUPA and other industry standards data. The President discusses the evaluation and compensation of officers with the compensation committee. Compensation is also discussed for the coming year and documented with the committee in regards to senior management and key employees. |
| How Documents are made available to the Public | Form 990, Part VI, Line 19 The College's governing documents, conflict of interest policy and financial statements are available upon request. The College's Form 990 is available at www.Guidestar.org and the Massachusetts Attorney General's website. |
| Other Changes in Net Assets | Form 990, Part XI, Line 9 Net Change in Split Interest Value ($8,776) ______________ Total ($8,776) |