MERRIMACK COLLEGE: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- MERRIMACK COLLEGE (EIN 04-2103731)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-15
- IRS object ID
- 201331359349305708
- Schema version
- 2011v1.5
- 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) |
|---|---|---|
| Timestamp | 2013-05-15T13:07:13-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 226 CAUSEWAY STREET | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 021142155 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103731 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Merrimack College | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % ALEXA ABOWITZ | InCareOfName |
| Name Control | MERR | NameControl |
| Phone | 9788375000 | Phone |
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 |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ALEXA ABOWITZ | Name |
| Title | VP OF ADMINISTRATION | Title |
| Date Signed | 2013-05-15 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LAURA J KENNEY | Name |
| Phone | 6177237900 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Christopher Hopey | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| 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 | 100772909 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.merrimack.edu | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1947 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | Merrimack's mission is to prepare students to adapt creatively to tomorrow's realities through excellence in the liberal arts, sciences, and the professions. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 22 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 21 | NbrIndependentVotingMembers |
| Total Nbr Employees | 1660 | TotalNbrEmployees |
| Total Nbr Volunteers | 35 | TotalNbrVolunteers |
| Total Gross UBI | 334004 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -346063 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 3409479 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 3525836 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 76724380 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 90224622 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1124386 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1059768 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 2933161 | OtherRevenuePriorYear |
| Other Revenue Current Year | 2825675 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 84191406 | TotalRevenuePriorYear |
| Total Revenue Current Year | 97635901 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 23542341 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 28591383 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 34483582 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 39223440 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1723765 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 26927936 | OtherExpensePriorYear |
| Other Expenses Current Year | 30060187 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 84953859 | TotalExpensesPriorYear |
| Total Expenses Current Year | 97875010 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -762453 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -239109 | RevenuesLessExpensesCY |
| Total Assets BOY | 123129389 | TotalAssetsBOY |
| Total Assets EOY | 121723369 | TotalAssetsEOY |
| Total Liabilities BOY | 53851442 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 57194584 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 69277947 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 64528785 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | 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 CHANGES IN COLLABORATIVE EFFORTS FOSTERING A JUST, PEACEFUL, AND SUSTAINABLE WORLD. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 50364909 | Expense |
| Grants | 28454925 | Grants |
| Revenue | 73012387 | Revenue |
| Description | 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 2,200 day students and 250 evening students. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 12821764 | Expense |
| Revenue | 19787792 | Revenue |
| Description | 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. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 14560590 | Expense |
| Description | 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. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 4920844 | Expense |
| Description | academic support expenditures | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 4920844 | TotalOfOtherProgramServiceExp |
| Total Program Service Expense | 82668107 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | true | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | true | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | true | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | true | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | true | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | true | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 5117 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 1 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 1660 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | true | QuidProQuoContributions |
| Quid Pro Quo Disclosure | true | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 22 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 21 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | true | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ALEXA ABOWITZ | NamePerson |
| Telephone Number | 9788375150 | TelephoneNumber |
Address US AddressUS
| 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 Form990PartVIISectionA (29 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| Christopher Hopey | |||||||
| President | 40.0 | X | X | 393738 | 0 | 53639 | |
| Brian C Mitchell | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Timothy R Murphy | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Marybeth McInnis | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Patrick B Maraghy | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev Anthony M Genovese | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev Joseph Calderone | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Tom Carroll | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Michael K Crowe | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| F Ken Duane | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev Joseph L Farrell | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev William T Garland | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev Robert P Hagan | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Paul Jordan | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Karen Kalil-Brown | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Thomas J Kinton Jr | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| William P Leahy | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Rev Gary N McCloskey | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Timothy McCoy | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| John Pasini | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Andrea Robertson | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| FATHER PETER M DONOHUE OSA | |||||||
| TRUSTEE | 1.0 | X | 0 | 0 | 0 | ||
| Mark Vadala | |||||||
| VP of Finance and CFO | 40.0 | X | 168622 | 0 | 21429 | ||
| Alexa Abowitz | |||||||
| VP of Admin & General Counsel | 40.0 | X | 161406 | 0 | 19364 | ||
| Mark Dennehy | |||||||
| Head Hockey Coach | 40.0 | 183107 | 0 | 35741 | X | ||
| Kristin Greene | |||||||
| VP of Enrollment Management | 40.0 | 166130 | 0 | 5315 | X | ||
| Josephine Modica-Napolitano | |||||||
| Provost & VP of Academic Affrs | 40.0 | 163920 | 0 | 13688 | X | ||
| Susan Thorn | |||||||
| VP for Communication/Mktg | 40.0 | 150029 | 0 | 36858 | X | ||
| James Dennis | |||||||
| VP of Advancement | 40.0 | 141718 | 0 | 35469 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1528670 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 221503 | TotalOtherCompensation |
| Number Individuals GT100 K | 26 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Grant Thornton LLP | |||||
| 226 Causeway Street 6th Floor | BOSTON | MA | 02114 | Auditing | 334469 |
| Financial Aid Services Inc | |||||
| 180 Interstate North Parkway Suite | ATLANTA | GA | 30339 | Consultant | 251972 |
| Jenzabar Inc | |||||
| PO Box 845939 | BOSTON | MA | 022845939 | IT Services | 222555 |
| Eduventures Inc | |||||
| Prudential Twr 9th Fl 800 Boylesto | BOSTON | MA | 02199 | Consultant | 205565 |
| Bingham McCutchen LLP | |||||
| PO Box 3486 | BOSTON | MA | 022413486 | Attorney | 167004 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 10 | NumberOfContractorsGT100K |
| Fundraising Events | 8530 | FundraisingEvents |
| Government Grants | 822352 | GovernmentGrants |
| All Other Contributions | 2694954 | AllOtherContributions |
| Noncash Contributions | 99120 | NoncashContributions |
| Total Contributions | 3525836 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION & FEES | 611710 | 73012387 | 73012387 |
| ROOM & BOARD | 721000 | 17212235 | 17212235 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 90224622 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1108055 | TotalRevenueColumn |
| Unrelated Business Revenue | -8862 | UnrelatedBusinessRevenue |
| Exclusion | $1,116,917 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 191 | TotalRevenueColumn |
| Exclusion | $191 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2950758 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2999236 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -48478 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -48478 | TotalRevenueColumn |
| Exclusion | -$48,478 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 45024 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 8530 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 137772 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -92748 | TotalRevenueColumn |
| Exclusion | -$92,748 | ExclusionAmount |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Total Revenue ColumnTotalRevenueColumn | Unrelated Business RevenueUnrelatedBusinessRevenue | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ICE RINK RENTALS | 342866 | 342866 | |
| CONFERENCE AND EVENT RENTALS | 645721 | 645721 | |
| CAMPS INCOME | 63805 | 63805 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1866031 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1866031 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 2918423 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 97635901 | TotalRevenueColumn |
| Related Or Exempt Function Income | 92800179 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 334004 | UnrelatedBusinessRevenue |
| Exclusion | $975,882 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27940864 | Total |
| Program Services | 27940864 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 650519 | Total |
| Program Services | 650519 | ProgramServices |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 852052 | Total |
| Management And General | 683801 | ManagementAndGeneral |
| Fundraising | 168251 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 29800241 | Total |
| Program Services | 24051119 | ProgramServices |
| Management And General | 4843834 | ManagementAndGeneral |
| Fundraising | 905288 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1524681 | Total |
| Program Services | 1196503 | ProgramServices |
| Management And General | 274955 | ManagementAndGeneral |
| Fundraising | 53223 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4937507 | Total |
| Program Services | 3874743 | ProgramServices |
| Management And General | 887620 | ManagementAndGeneral |
| Fundraising | 175144 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2108959 | Total |
| Program Services | 1657365 | ProgramServices |
| Management And General | 390897 | ManagementAndGeneral |
| Fundraising | 60697 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 204870 | Total |
| Management And General | 204870 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 354600 | Total |
| Management And General | 354600 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40888 | Total |
| Management And General | 40888 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2776532 | Total |
| Program Services | 1947235 | ProgramServices |
| Management And General | 790083 | ManagementAndGeneral |
| Fundraising | 39214 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 409292 | Total |
| Program Services | 395994 | ProgramServices |
| Management And General | 13298 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1439165 | Total |
| Program Services | 918015 | ProgramServices |
| Management And General | 421675 | ManagementAndGeneral |
| Fundraising | 99475 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 464955 | Total |
| Program Services | 115825 | ProgramServices |
| Management And General | 348063 | ManagementAndGeneral |
| Fundraising | 1067 | Fundraising |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2480335 | Total |
| Program Services | 2302027 | ProgramServices |
| Management And General | 166496 | ManagementAndGeneral |
| Fundraising | 11812 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1400219 | Total |
| Program Services | 1285497 | ProgramServices |
| Management And General | 50197 | ManagementAndGeneral |
| Fundraising | 64525 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 111379 | Total |
| Program Services | 55276 | ProgramServices |
| Management And General | 52045 | ManagementAndGeneral |
| Fundraising | 4058 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1883451 | Total |
| Program Services | 1828311 | ProgramServices |
| Management And General | 55089 | ManagementAndGeneral |
| Fundraising | 51 | Fundraising |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4896948 | Total |
| Program Services | 4376383 | ProgramServices |
| Management And General | 516898 | ManagementAndGeneral |
| Fundraising | 3667 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 624573 | Total |
| Program Services | 591460 | ProgramServices |
| Management And General | 30134 | ManagementAndGeneral |
| Fundraising | 2979 | Fundraising |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| FOOD SERVICE EXPENSE | 5540063 | 5143412 | 366875 | 29776 |
| EQUIPMENT RENTAL MAINTENANCE | 2227838 | 1218624 | 951532 | 57682 |
| LIBRARY BOOKS & PUBLICATIONS | 502681 | 501556 | 1125 | |
| MEMBERSHIP DUES | 192325 | 89210 | 97192 | 5923 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4510073 | Total |
| Program Services | 2528169 | ProgramServices |
| Management And General | 1940971 | ManagementAndGeneral |
| Fundraising | 40933 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 97875010 | Total |
| Program Services | 82668107 | ProgramServices |
| Management And General | 13483138 | ManagementAndGeneral |
| Fundraising | 1723765 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3809239 | BOY |
| EOY | 9730920 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2767167 | BOY |
| EOY | 1389541 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2031063 | BOY |
| EOY | 3036229 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1752101 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28414 | BOY |
| EOY | 11284 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2097406 | BOY |
| EOY | 2117346 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 137410104 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 73980504 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65806280 | BOY |
| EOY | 63429600 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36239020 | BOY |
| EOY | 33345680 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1739377 | BOY |
| EOY | 2195307 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6859322 | BOY |
| EOY | 6467462 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123129389 | BOY |
| EOY | 121723369 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5161309 | BOY |
| EOY | 8169386 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7088186 | BOY |
| EOY | 9521841 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 37666165 | BOY |
| EOY | 35585326 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 339569 | BOY |
| EOY | 256637 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3596213 | BOY |
| EOY | 3661394 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53851442 | BOY |
| EOY | 57194584 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39147715 | BOY |
| EOY | 36082743 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11679820 | BOY |
| EOY | 9439667 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18450412 | BOY |
| EOY | 19006375 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 69277947 | BOY |
| EOY | 64528785 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123129389 | BOY |
| EOY | 121723369 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -239109 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -4510053 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| 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) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbying | |
| Total Direct Lobbying | TotalDirectLobbying | |
| Total Lobbying Expenditures | TotalLobbyingExpenditures | |
| Other Exempt Purpose Expenditures | OtherExemptPurposeExpenditures | |
| Total Exempt Purpose Expenditures | TotalExemptPurposeExpenditures | |
| Lobbying Nontaxable | LobbyingNontaxableAmount | |
| Grassroots Nontaxable | GrassrootsNontaxableAmount | |
| Tot Lobbying Grassroot Minus Non Tx | TotLobbyingGrassrootMinusNonTx | |
| Tot Lobby Expend Mns Lobbying Nontx | TotLobbyExpendMnsLobbyingNontx | |
| Volunteers | false | Volunteers |
| Paid Staff Or Management | false | PaidStaffOrManagement |
| Media Advertisements | false | MediaAdvertisements |
| Mailings Members | false | MailingsMembers |
| Publications Or Broadcast | false | PublicationsOrBroadcast |
| Grants Other Organizations | false | GrantsOtherOrganizations |
| Direct Contact Legislators | false | DirectContactLegislators |
| Rallies Demonstrations | false | RalliesDemonstrations |
| Other Activities | true | OtherActivities |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | LOBBYING ACTIVITIES | Identifier |
| Return Reference | PART II-B, LINE 11 | ReturnReference |
| Explanation | 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. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 37192284 | BeginningOfYearBalance |
| Contributions | 576036 | Contributions |
| Investment Earnings Or Losses | 528977 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 852185 | GrantsOrScholarships |
| Other Expenditures | 2361308 | OtherExpenditures |
| End Of Year Balance | 35083804 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 30837487 | BeginningOfYearBalance |
| Contributions | 379215 | Contributions |
| Investment Earnings Or Losses | 6795911 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 820229 | GrantsOrScholarships |
| Other Expenditures | 0 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 37192384 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 28045769 | BeginningOfYearBalance |
| Contributions | 514113 | Contributions |
| Investment Earnings Or Losses | 3286043 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 878865 | GrantsOrScholarships |
| Other Expenditures | 129573 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 30837487 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 35373939 | BeginningOfYearBalance |
| Contributions | 510080 | Contributions |
| Investment Earnings Or Losses | -5885453 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 925780 | GrantsOrScholarships |
| Other Expenditures | 1027017 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 28045769 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.24000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.54000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.22000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 213318 | OtherCostOrOtherBasis |
| Book Value | 213318 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 93586217 | OtherCostOrOtherBasis |
| Depreciation | 40661954 | Depreciation |
| Book Value | 52924263 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1040656 | OtherCostOrOtherBasis |
| Depreciation | 500114 | Depreciation |
| Book Value | 540542 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 33933129 | OtherCostOrOtherBasis |
| Depreciation | 28463561 | Depreciation |
| Book Value | 5469568 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8636784 | OtherCostOrOtherBasis |
| Depreciation | 4354875 | Depreciation |
| Book Value | 4281909 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 63429600 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (3 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| DEPOSITS WITH BOND TRUSTEES | 6013593 |
| CASH SURRENDER VALUE OF SDLI | 458972 |
| OTHER ASSETS | -5103 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 6467462 | TotalBookValueOtherAssets |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | REFUNDABLE ADV. - US GOVERNMENT | Description |
| Amount | $3,661,394 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 3661394 | TotalOfAmounts |
| Total Revenue | 97635901 | TotalRevenue |
| Total Expenses | 97875010 | TotalExpenses |
| Excess Or Deficit For Year | -239109 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -478414 | NetUnrealizedGLOnInvestments |
| Prior Period Adjustments | -4031639 | PriorPeriodAdjustments |
| Total Adjustments | -4510053 | TotalAdjustments |
| Excess Or Deficit Per FS | -4749162 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 93222731 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -478414 | NetUnrealizedGainsInvestments |
| Other Revenues | -4031639 | OtherRevenues |
| Revenue Not Rptd F990 | -4510053 | RevenueNotRptdF990 |
| Revenue Subtotal | 97732784 | RevenueSubtotal |
| Investment Expenses Not Included | 40888 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | -137771 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -96883 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 97635901 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 97971893 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 137771 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 137771 | ExpensesNotRptdF990 |
| Expenses Subtotal | 97834122 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 40888 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 40888 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 97875010 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| 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. Endowment funds primarily provide for the following: student financial aid, student services, academic support, athletic programs and capital projects. All uses of endowment fund earnings are in accordance with donor intent consistent with institutional mission. |
| FIN 48- ASC 470 | Schedule D, Part X, Line 2 | The College is a not-for-profit organization that is generally exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provisions for income taxes related to tax exempt activities is recorded in the financial statements. The College recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. There have been no material changes in unrecognized benefits during the years ended June 30, 2012. It is the College's policy to record estimated interest and penalties (if any) as part of management and general expense. Management believes that the College's income tax returns for fiscal years ending prior to June 30, 2008 are no longer subject to examination by tax authorities in its major tax jurisdictions. |
| Schedule D, Part XI, Line 7 | Provision for losses- Perkins Loan Program ($2,300,000) Bequest adjustment ($1,731,639) Total ($4,031,639) | |
| Revenues included on 990 but not on financial statements | Schedule D, Part XII, Line 4b | FUNDRAISING EXPENSES INCLUDED ON PART VIII PER FORM 990 INSTRUCTIONS: $137,771 |
| Expenses Included on Financial Statements but not 990 | Schedule D, Part XIII, Line 2d | FUNDRAISING EXPENSES INCLUDED ON PART VIII PER FORM 990 INSTRUCTIONS: $137,771 |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | true | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | true | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | true | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | true | MaintRacialCompositionRecords |
| Maint Scholarships Records | true | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | true | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | true | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | false | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | false | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | false | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | false | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | false | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | false | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActy |
| Government Financial Aid Received | true | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | false | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | true | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| 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 | true | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (5 entries)
| RegionRegion | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees |
|---|---|---|---|---|---|
| Central America and the Caribbean | Program Services | Study Abroad | 20935 | ||
| East Asia and the Pacific | Program Services | Study Abroad | 184402 | 0 | 0 |
| Europe (Including Iceland and Greenland) | Program Services | Study Abroad | 1342337 | 0 | 0 |
| South America | Program Services | Study Abroad | 15690 | 0 | 0 |
| Middle East and North Africa | Program Services | Study Abroad | 22166 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 1585530 | SubtotalAmountSpent |
| Total Amount Spent | 1585530 | TotalAmountSpent |
Grants To Ind Outside US GrantsToIndOutsideUS (6 entries)
| Type Of AssistanceTypeOfAssistance | RegionRegion | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant | Manner Of Cash DisbursementMannerOfCashDisbursement |
|---|---|---|---|---|
| Scholarship Aid | East Asia/Pacific | 6 | 76710 | Acct Credit |
| Scholarship Aid | Europe/Iceland/Greenland | 49 | 433601 | Acct Credit |
| Scholarship Aid | South America | 1 | 3750 | Acct Credit |
| Meal Stipend | East Asia/Pacific | 6 | 19840 | Check |
| Meal Stipend | Europe/Iceland/Greenland | 47 | 115518 | Check |
| Meal Stipend | South America | 1 | 1100 | Check |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | true | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | false | OwnForeignCorp |
| Passive Foreign Invest Co | false | PassiveForeignInvestCo |
| Foreign Partnership | true | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Use of Grant Funds Outside U.S. | Identifier |
| Return Reference | Schedule F, Part I, Line 2 | ReturnReference |
| Explanation | 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. | Explanation |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | Reunion | NameOfEvent1 |
| Gross Receipts Event1 | 28738 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 4185 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 24553 | GrossRevenueEvent1 |
| Cash Prizes Event1 | 0 | CashPrizesEvent1 |
| Non Cash Prizes Event1 | 0 | NonCashPrizesEvent1 |
| Rent Facility Costs Event1 | 24515 | RentFacilityCostsEvent1 |
| Food And Beverage Event1 | 52135 | FoodAndBeverageEvent1 |
| Entertainment Event1 | 38279 | EntertainmentEvent1 |
| Other Direct Expenses Event1 | 8911 | OtherDirectExpensesEvent1 |
| Name Of Event2 | Homecoming | NameOfEvent2 |
| Gross Receipts Event2 | 17916 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 2810 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 15106 | GrossRevenueEvent2 |
| Cash Prizes Event2 | 0 | CashPrizesEvent2 |
| Non Cash Prizes Event2 | 0 | NonCashPrizesEvent2 |
| Rent Facility Costs Event2 | 0 | RentFacilityCostsEvent2 |
| Food And Beverage Event2 | 1659 | FoodAndBeverageEvent2 |
| Entertainment Event2 | 8945 | EntertainmentEvent2 |
| Other Direct Expenses Event2 | 2590 | OtherDirectExpensesEvent2 |
| Total Number Of Other Events | 1 | TotalNumberOfOtherEvents |
| Gross Receipts Other Events | 6900 | GrossReceiptsOtherEvents |
| Charitable Contrib Other Events | 1535 | CharitableContribOtherEvents |
| Gross Revenue Other Events | 5365 | GrossRevenueOtherEvents |
| Cash Prizes Other Events | 0 | CashPrizesOtherEvents |
| Non Cash Prizes Other Events | 0 | NonCashPrizesOtherEvents |
| Rent Facility Costs Other Events | 0 | RentFacilityCostsOtherEvents |
| Food And Beverage Other Events | 0 | FoodAndBeverageOtherEvents |
| Entertainment Other Events | 300 | EntertainmentOtherEvents |
| Other Direct Expenses Other Events | 439 | OtherDirectExpensesOtherEvents |
| Gross Receipts Total | 53554 | GrossReceiptsTotal |
| Charitable Contributions Total | 8530 | CharitableContributionsTotal |
| Gross Revenue Total Events | 45024 | GrossRevenueTotalEvents |
| Cash Prizes Total Events | 0 | CashPrizesTotalEvents |
| Non Cash Prizes Total Events | 0 | NonCashPrizesTotalEvents |
| Rent Facility Costs Total Events | 24515 | RentFacilityCostsTotalEvents |
| Food And Beverage Total Events | 53794 | FoodAndBeverageTotalEvents |
| Entertainment Total Events | 47524 | EntertainmentTotalEvents |
| Other Direct Expenses Total Events | 11940 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 137773 | DirectExpenseSummaryEvents |
| Net Income Summary | -92749 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | Student Scholarships | TypeOfGrant |
| Number Of Recipients | 2031 | NumberOfRecipients |
| Amount Of Cash Grant | 27940864 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Use of Grant Funds Inside U.S. | Identifier |
| Return Reference | Schedule I, Part I, Line 2 | ReturnReference |
| Explanation | A report is run at the end of each semester with student identification and names, fund name, and cumulative GPA. Students who fail to achieve the required cumulative GPA are notified that the award is cancelled. They are provided an opportunity to appeal the decision. Appeals are reviewed by the Financial Aid Appeals Committee. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Christopher Hopey | |||||||||||||
| 388962 | 0 | 0 | 0 | 4776 | 0 | 27970 | 0 | 25669 | 0 | 447377 | 0 | 0 | 0 |
| Mark Vadala | |||||||||||||
| 168106 | 0 | 0 | 0 | 516 | 0 | 14450 | 0 | 6979 | 0 | 190051 | 0 | 0 | 0 |
| Alexa Abowitz | |||||||||||||
| 161286 | 0 | 0 | 0 | 120 | 0 | 0 | 0 | 19364 | 0 | 180770 | 0 | 0 | 0 |
| Mark Dennehy | |||||||||||||
| 182987 | 0 | 0 | 0 | 120 | 0 | 13812 | 0 | 21929 | 0 | 218848 | 0 | 0 | 0 |
| Kristin Greene | |||||||||||||
| 110638 | 0 | 0 | 0 | 55492 | 0 | 0 | 0 | 5315 | 0 | 171445 | 0 | 0 | 0 |
| Josephine Modica-Napolitano | |||||||||||||
| 163404 | 0 | 0 | 0 | 516 | 0 | 13092 | 0 | 596 | 0 | 177608 | 0 | 0 | 0 |
| Susan Thorn | |||||||||||||
| 127787 | 0 | 0 | 0 | 22242 | 0 | 11189 | 0 | 25669 | 0 | 186887 | 0 | 0 | 0 |
| James Dennis | |||||||||||||
| 131975 | 0 | 0 | 0 | 9743 | 0 | 11939 | 0 | 23530 | 0 | 177187 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Housing allowance or residence for personal use | Schedule J, Part I, Line 1a | The President of the College was provided a housing allowance during FY 2012. The housing allowance is treated as taxable income. |
| SEVERANCE PAYMENTS | SCHEDULE J, PART I, LINE 4A | KRISTIN GREENE RECEIVED A SEVERANCE PAYMENT TOTALLING $55,383.96. THE COLLEGE IS NOT OBLIGATED TO PAY ANY ADDITIONAL AMOUNTS IN FUTURE PERIODS. SUSAN THORN RECEIVED A SEVERANCE PAYMENT TOTALLING $22,112.38. THE COLLEGE IS NOT OBLIGATED TO PAY ANY ADDITIONAL AMOUNTS IN FUTURE PERIODS. JAMES DENNIS RECEIVED A SEVERANCE PAYMENT TOTALLING $8,077.20. THE COLLEGE IS NOT OBLIGATED TO PAY ANY ADDITIONAL AMOUNTS IN FUTURE PERIODS. |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Massachusetts Development Finance Agency | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 043431814 | IssuerEIN |
| Date Issued | 2009-10-30 | DateIssued |
| Issue Price | 11500000 | IssuePrice |
| Description Of Purpose | Refund Bond Issue and Related Swap | DescriptionOfPurpose |
| Defeased | false | Defeased |
| On Behalf Of Issuer | true | OnBehalfOfIssuer |
| Pool Financing | false | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amount Retired | 316200 | AmountRetired |
| Amount Bond Defeased | 0 | AmountBondDefeased |
| Total Proceeds | 11500000 | TotalProceeds |
| Amount In Reserve Fund | 0 | AmountInReserveFund |
| Capitalized Interest | 0 | CapitalizedInterest |
| Refunding Escrow | 11270000 | RefundingEscrow |
| Issuance Costs From Proceeds | 230000 | IssuanceCostsFromProceeds |
| Credit Enhancement | 0 | CreditEnhancement |
| Working Capital Expenditures | 0 | WorkingCapitalExpenditures |
| Capital Expenditures | 0 | CapitalExpenditures |
| Other Spent Proceeds | 0 | OtherSpentProceeds |
| Amount Unspent | 0 | AmountUnspent |
| Year Of Subst Completion | 2009 | YearOfSubstCompletion |
| Current Refunding | true | CurrentRefunding |
| Advance Refunding | false | AdvanceRefunding |
| Final Allocation Made | true | FinalAllocationMade |
| Adequate Books And Recds Maintaind | true | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | false | OwningBondFinancedProperty |
| Any Lease Arrangements | false | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | false | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | false | AnyResearchAgreements |
| Prcntge Prvt Business Use By Others | 0.00000 | PrcntgePrvtBusinessUseByOthers |
| Percentage Of Prvt Business Re UBI | 0.00000 | PercentageOfPrvtBusinessReUBI |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUse |
| Post Issuance Compliance Procdrs | true | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | false | Form8038TFiled |
| Variable Rate Issue | true | VariableRateIssue |
| Hedge Identified In Books And Recds | false | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 0 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGIC |
Name Of GIC Provider NameOfGICProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 0 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Proceeds Invested | false | GrossProceedsInvested |
| Exception To Rebate | true | ExceptionToRebate |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArt | |
| Art Historical Treasures | ArtHistoricalTreasures | |
| Art Fractional Interest | ArtFractionalInterest | |
| Books And Publications | BooksAndPublications | |
| Clothing And Household Goods | ClothingAndHouseholdGoods | |
| Cars And Other Vehicles | CarsAndOtherVehicles | |
| Boats And Planes | BoatsAndPlanes | |
| Intellectual Property | IntellectualProperty |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 6 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 86095 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities Closely Held Stock | SecuritiesCloselyHeldStock | |
| Securities Prtnrshp Trust Intrsts | SecuritiesPrtnrshpTrustIntrsts | |
| Securities Miscellaneous | SecuritiesMiscellaneous | |
| Qualified Contrib Hist Struct | QualifiedContribHistStruct | |
| Qualified Contrib Other | QualifiedContribOther | |
| Real Estate Residential | RealEstateResidential | |
| Real Estate Commercial | RealEstateCommercial | |
| Real Estate Other | RealEstateOther | |
| Collectibles | Collectibles | |
| Food Inventory | FoodInventory | |
| Drugs And Medical Supplies | DrugsAndMedicalSupplies | |
| Taxidermy | Taxidermy | |
| Historical Artifacts | HistoricalArtifacts | |
| Scientific Specimens | ScientificSpecimens | |
| Archaeological Artifacts | ArchaeologicalArtifacts |
Other Non Cash Contributions Table OtherNonCashContributionsTable (2 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | Troy Silver Bars | 1 | 8750 | FMV |
| X | Gold Coins | 1 | 4275 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | true | ReviewProcessUnusualNCGifts |
| Third Parties Used | true | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Third Party Assistance of Noncash Contributions | SCHEDULE M, PART 1, LINE 32A | THE COLLEGE UTILIZES A REGISTERED INVESTMENT ADVISOR TO IMMEDIATELY SELL ALL GIFTS OF STOCK. |
| NUMBER OF ITEMS RECIEVED | PART I, COLUMN B | AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Significant Changes to Governing Documents | Form 990, Part VI, Line 4 | The By-Laws were amended on March 3, 2012 to create two new officer positions: an Immediate Past Chair Position (to be occupied by the said immediate past chair if he or she remains on the Board) and a Second Vice Chair position. |
| Significant Diversion of Assets | Form 990, Part VI, Line 5 | The College's administration discovered abnormalities in the administration of the Perkins Loan Program. It was determined that between 2000 and 2007 numerous Perkins loans had been created and assigned to students without adequate supporting documentation. The College assessed the Perkins Loan program and hired an outside forensic accounting firm during Fiscal Year 2012 to conduct a thorough review. The College has recorded a loss provision of $4.1 million. The College has been in contact and is working with the U.S. Department of Education and other federal agencies to help resolve all issues related to this situation. |
| 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 forwarded 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 VP for Administration and legal counsel, VP for Finance and CFO, President, and board members to complete a conflict of interest questionnaire. These documents are reviewed by the Department of Fiscal Affairs and Vice President for Administration and legal counsel 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. |
| Form 990, Part XI, Line 5 | Provision for losses - Perkins Loan program ($2,300,000) Bequest adjustment ($1,731,639) Unrealized loss ($478,414) Total ($4,510,053) |