NEWBURY COLLEGE INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- NEWBURY COLLEGE INC (EIN 04-2452884)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-03-28
- IRS object ID
- 201340879349300209
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-03-28T09:43:20-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043000523 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | O'CONNOR & DREW PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 25 BRAINTREE HILL OFC PK SUITE 102 | AddressLine1 |
| City | BRAINTREE | City |
| State | MA | State |
| ZIP Code | 02184 | 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 | 042452884 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEWBURY COLLEGE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NEWB | NameControl |
| Phone | 6177307000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 129 FISHER AVENUE | AddressLine1 |
| City | BROOKLINE | City |
| State | MA | State |
| ZIP Code | 024455796 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | HANNAH MCCARTHY | Name |
| Title | VICE PRESIDENT OF FINANCE &CFO | Title |
| Phone | 6177307000 | Phone |
| Date Signed | 2013-03-28 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DAVID A DIIULIS | Name |
| PTIN | P00303577 | PTIN |
| Phone | 6174711120 | Phone |
| Date Prepared | 2013-03-25 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | HANNAH MCCARTHY | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 129 FISHER AVENUE | AddressLine1 |
| City | BROOKLINE | City |
| State | MA | State |
| ZIP Code | 02445 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 29380923 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.NEWBURY.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1968 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | NEWBURY COLLEGE ENGAGES STUDENTS IN CAREER RELEVANT EDUCATION WITHIN A SUPPORTIVE LEARNING COMMUNITY RESPONSIVE TO THE NEEDS OF THE 21ST CENTURY.NEWBURY COLLEGE INTEGRATES GENERAL EDUCATION AND PROFESSIONAL EDUCATION WITH STUDENT LIFE PROGRAMMING AND EXPERIENTIAL OPPORTUNITIES TO MAXIMIZE STUDENT ACHIEVEMENT AND CREATIVITY. NEWBURY COLLEGE VALUES EXCELLENCE IN TEACHING, SUPPORTS THE PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF, AND ENCOURAGES THE REFINEMENT OF PROGRAMS AND SERVICES ESSENTIAL TO THE EVOLVING NEEDS OF ITS COMMUNITIES. NEWBURY COLLEGE ENDEAVORS TO GRADUATE STUDENTS WHO ARE PROFESSIONALLY COMPETENT, ETHICALLY AWARE, SOCIALLY RESPONSIBLE, AND PREPARED FOR LIFELONG LEARNING. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 13 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 13 | NbrIndependentVotingMembers |
| Total Nbr Employees | 463 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 373104 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 502744 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 27113302 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 28486515 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 5550 | InvestmentIncomePriorYear |
| Investment Income Current Year | 5263 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 219408 | OtherRevenuePriorYear |
| Other Revenue Current Year | 312749 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 27711364 | TotalRevenuePriorYear |
| Total Revenue Current Year | 29307271 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 8375913 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 9494959 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 7347894 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 7935258 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 9777591 | OtherExpensePriorYear |
| Other Expenses Current Year | 10420130 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 25501398 | TotalExpensesPriorYear |
| Total Expenses Current Year | 27850347 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2209966 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1456924 | RevenuesLessExpensesCY |
| Total Assets BOY | 21136718 | TotalAssetsBOY |
| Total Assets EOY | 22264316 | TotalAssetsEOY |
| Total Liabilities BOY | 12870525 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 12601049 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 8266193 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 9663267 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | NEWBURY COLLEGE IS A CHALLENGING UNDERGRADUATE EXPERIENCE DESIGNED TO ENGAGE STUDENTS IN A CAREER-FOCUSED EDUCATION. WHETHER THE GOAL IS CHOOSING THE RIGHT MAJOR, TRAINING FOR A SPECIFIC PROFESSION, OR PREPARING FOR GRADUATE SCHOOL, NEWBURY MENTORS STUDENTS TO BE SUCCESSFUL IN THEIR CHOSEN CAREER. WITH SMALL CLASSES, FACULTY ENCOURAGE DEBATE AND DISCUSSION IN A LIBERAL ARTS TRADITION THAT STRENGTHENS PROBLEM SOLVING AND CRITICAL THINKING ABILITY. INTERNSHIPS BRING STUDENTS FACE TO FACE WITH BOSTON'S BUSINESS LEADERS AND PROVIDE EXTENSIVE WORLD EXPERIENCE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 9494959 | Expense |
| Description | STUDENT FINANCIAL AID EXPENSE | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 6574341 | Expense |
| Description | INSTRUCTIONAL RELATED EXPENSE | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 4270303 | Expense |
| Description | STUDENT SERVICES RELATED EXPENSE | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 3777508 | Expense |
| Description | INSTITUTIONAL SUPPORT RELATED EXPENSE | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 3777508 | TotalOfOtherProgramServiceExp |
| Total Program Service Expense | 24117111 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 29 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 463 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Excess Business Holdings | 0 | ExcessBusinessHoldings |
| Taxable Distributions | 0 | TaxableDistributions |
| Distribution To Donor | 0 | DistributionToDonor |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 13 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 13 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOYCE HANLON VICE PRESIDENT OF FINANCE & CFO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6177307000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 129 FISHER AVENUE | AddressLine1 |
| City | BROOKLINE | City |
| State | MA | State |
| ZIP Code | 024455796 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Institutional TrusteeInstitutionalTrustee | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| KAY H HODGE ESQ | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JANE LUNDQUIST | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| DR J KEITH MOTLEY | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| LAWRENCE E KAPLAN | ||||||||
| CHAIRMAN/TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| RICHARD MOREAU | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| MARGARET WINSLOW | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JAMES DAVIS | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| NORMAN LEVENSON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ROGER E GORDON ESQ | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| DIANE GORDON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| FRED CASINELLI | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JOAN BARRY-HYDE | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| LAURIE J WATSON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| HANNAH M MCCARTHY | ||||||||
| PRESIDENT | 37.50 | 256062 | 0 | 56877 | X | X | X | |
| JOYCE HANLON | ||||||||
| VICE PRESIDENT OF FINANCE & CFO | 37.50 | 158647 | 0 | 5064 | X | X | X | |
| JOSEPH CHILLO | ||||||||
| VICE PRESIDENT OF ENROLLMENT | 37.50 | 132693 | 0 | 3981 | X | X | ||
| HANNAH LEVERTOV | ||||||||
| VP OF ACADEMIC AFFAIRS | 37.50 | 101129 | 0 | 16680 | X | X | ||
| CLARE MCCULLY | ||||||||
| VICE PRESIDENT OF DEVELOPMENT | 37.50 | 120000 | 0 | 7371 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 768531 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 89973 | TotalOtherCompensation |
| Number Individuals GT100 K | 5 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| SODEXO OPERATIONS LLC | |||||
| PO BOX 360170 | PITTSBURG | PA | 15251 | DINING SERVICES | 1447023 |
| ARAMARK CORPORATION | |||||
| 525 MONROE STREET | CHICAGO | IL | 60661 | FACILITY MANAGEMENT | 1282809 |
| B AND B LODGING HOUSES LLC | |||||
| 48 NORTH BEACON STREET | ALLSTON | MA | 02134 | STUDENT HOUSING | 1045785 |
| LONGWOOD SECURITY SERVICES | |||||
| 429 NEWBURY STREET | BOSTON | MA | 02115 | SECURITY | 811080 |
| FIREBIRD BUILDERS LLC | |||||
| 27 STANDISH STREET | DUXBURY | MA | 02332 | CONTRACTING SERVICES | 559687 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 13 | NumberOfContractorsGT100K |
| All Other Contributions | 502744 | AllOtherContributions |
| Noncash Contributions | 45600 | NoncashContributions |
| Total Contributions | 502744 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| EDUCATIONAL & GENERAL | 611710 | 24432181 | 24432181 |
| AUXILIARY ENTERPRISES | 611710 | 4054334 | 4054334 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 28486515 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5263 | TotalRevenueColumn |
| Exclusion | $5,263 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 386401 | GrossIncomeFundraisingEvents |
| Fundraising Direct Expenses | 73652 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 312749 | TotalRevenueColumn |
| Exclusion | $312,749 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29307271 | TotalRevenueColumn |
| Related Or Exempt Function Income | 28486515 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $318,012 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9494959 | Total |
| Program Services | 9494959 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 858504 | Total |
| Program Services | 815579 | ProgramServices |
| Management And General | 42925 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5788151 | Total |
| Program Services | 4300959 | ProgramServices |
| Management And General | 1487192 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1288603 | Total |
| Program Services | 1053595 | ProgramServices |
| Management And General | 235008 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13621 | Total |
| Management And General | 13621 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68575 | Total |
| Management And General | 68575 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2057189 | Total |
| Program Services | 1261173 | ProgramServices |
| Management And General | 796016 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 608748 | Total |
| Program Services | 598638 | ProgramServices |
| Management And General | 10110 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 181242 | Total |
| Program Services | 159817 | ProgramServices |
| Management And General | 21425 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 280734 | Total |
| Program Services | 140367 | ProgramServices |
| Management And General | 140367 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1942883 | Total |
| Program Services | 1919236 | ProgramServices |
| Management And General | 23647 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 86031 | Total |
| Program Services | 78205 | ProgramServices |
| Management And General | 7826 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39649 | Total |
| Program Services | 33445 | ProgramServices |
| Management And General | 6204 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 415276 | Total |
| Program Services | 394512 | ProgramServices |
| Management And General | 20764 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 980612 | Total |
| Program Services | 914916 | ProgramServices |
| Management And General | 65696 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 263042 | Total |
| Program Services | 9416 | ProgramServices |
| Management And General | 253626 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| STUDENT FOOD/CATERING | 1429257 | 1417611 | 11646 |
| MISCELLANEOUS | 525105 | 127694 | 397411 |
| RENTAL AND MAINTENANCE | 442361 | 421685 | 20676 |
| STUDENT SERVICES | 140293 | 140293 | 0 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 945512 | Total |
| Program Services | 835011 | ProgramServices |
| Management And General | 110501 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27850347 | Total |
| Program Services | 24117111 | ProgramServices |
| Management And General | 3733236 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1251565 | BOY |
| EOY | 1409862 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1713596 | BOY |
| EOY | 2326435 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 360000 | BOY |
| EOY | 360000 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2052556 | BOY |
| EOY | 2065178 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 894415 | BOY |
| EOY | 895957 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 28292757 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 13944212 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14031398 | BOY |
| EOY | 14348545 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 833188 | BOY |
| EOY | 858339 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21136718 | BOY |
| EOY | 22264316 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1613330 | BOY |
| EOY | 1555968 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 406847 | BOY |
| EOY | 377882 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9060000 | BOY |
| EOY | 8435000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 129627 | BOY |
| EOY | 663934 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1660721 | BOY |
| EOY | 1568265 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12870525 | BOY |
| EOY | 12601049 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6275082 | BOY |
| EOY | 7688793 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 391111 | BOY |
| EOY | 374474 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1600000 | BOY |
| EOY | 1600000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8266193 | BOY |
| EOY | 9663267 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21136718 | BOY |
| EOY | 22264316 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 1456924 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -59850 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | 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 D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1600000 | BeginningOfYearBalance |
| End Of Year Balance | 1600000 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1600000 | BeginningOfYearBalance |
| End Of Year Balance | 1600000 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1666383 | BeginningOfYearBalance |
| Other Expenditures | 66383 | OtherExpenditures |
| End Of Year Balance | 1600000 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1615829 | BeginningOfYearBalance |
| Contributions | 50554 | Contributions |
| End Of Year Balance | 1666383 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 1.00000 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2063000 | OtherCostOrOtherBasis |
| Book Value | 2063000 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 15591812 | OtherCostOrOtherBasis |
| Depreciation | 5128398 | Depreciation |
| Book Value | 10463414 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10629460 | OtherCostOrOtherBasis |
| Depreciation | 8815814 | Depreciation |
| Book Value | 1813646 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8485 | OtherCostOrOtherBasis |
| Book Value | 8485 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 14348545 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| REFUNDABLE GOVERNMENT GRANT & DOE PAYABLE | $1,149,156 |
| INTEREST RATE SWAP LIABILITY | $419,109 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1568265 | TotalOfAmounts |
| Total Revenue | 29307271 | TotalRevenue |
| Total Expenses | 27850347 | TotalExpenses |
| Excess Or Deficit For Year | 1456924 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -59850 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -59850 | TotalAdjustments |
| Excess Or Deficit Per FS | 1397074 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 19812312 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 19812312 | RevenueSubtotal |
| Other Revenues Not Included | 9494959 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 9494959 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 29307271 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 18415238 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 59850 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 59850 | ExpensesNotRptdF990 |
| Expenses Subtotal | 18355388 | ExpensesSubtotal |
| Other Expenses Not Included | 9494959 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 9494959 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 27850347 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | PART XII LINE 4B: STUDENT AID $9,494,959 PART XIII LINE 2D: NET UNREALIZED LOSSES $59,850 PART XIII LINE 4B: STUDENT AID $9,494,959 FIN 48 FOOTNOTE NEWBURY COLLEGE, INC. HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE COLLEGE HAS IDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS MORE THAN LIKELY NOT SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. | Explanation |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | NEWBURY COLLEGE, A NON-PROFIT ORGANIZATION EXEMPT FROM STATE AND FEDERAL TAXES, ADMITS STUDENTS OF ANY AGE, RACE, COLOR, SEXUAL ORIENTATION AND NATIONAL OR ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS OF THE COLLEGE. IT DOES NOT DISCRIMINATE ON THE BASIS OF AGE, RACE, COLOR SEX, SEXUAL ORIENTATION, RELIGION OR CREED, NATIONAL OR ETHNIC ORIGIN, OR NON DISQUALIFYING HANDICAP IN THE ADMINISTRATION AND LOAN PROGRAMS, ATHLETIC AND OTHER COLLEGE ADMINISTERED PROGRAMS, AND IN ITS EMPLOYMENT POLICIES. ANY INQUIRES OR GRIEVANCES CONCERNING THESE REGULATIONS MAY BE DIRECTED TO THE VICE PRESIDENT OF FINANCE, NEWBURY COLLEGE, 129 FISHER AVE BROOKLINE, MA 02445, (617) 730-7036 AND/OR DIRECTOR OF THE OFFICE OF CIVIL RIGHTS, US DEPARTMENT OF EDUCATION. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | FINANCIAL AID FUNDS ARE AWARDED ANNUALLY BY THE US DEPARTMENT OF EDUCATION UNDER EQUITY NUMBER 10424528841. AWARDS INCLUDE FUNDING GRANTS FOR PELL, SEOG, AND CWSP PROGRAMS. THE COLLEGE HAS A DETAILED LIST OF CRITERIA FOR STUDENTS COLLECTING FINANCIAL AID. |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | AUCTION | NameOfEvent1 |
| Gross Receipts Event1 | 386401 | GrossReceiptsEvent1 |
| Gross Revenue Event1 | 386401 | GrossRevenueEvent1 |
| Other Direct Expenses Event1 | 73652 | OtherDirectExpensesEvent1 |
| Gross Receipts Total | 386401 | GrossReceiptsTotal |
| Gross Revenue Total Events | 386401 | GrossRevenueTotalEvents |
| Other Direct Expenses Total Events | 73652 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 73652 | DirectExpenseSummaryEvents |
| Net Income Summary | 312749 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | FINANCIAL AID | TypeOfGrant |
| Number Of Recipients | 887 | NumberOfRecipients |
| Amount Of Cash Grant | 9494959 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY AND CHECKING COMPLIANCE WITH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT EXPENSE FALLS WITHIN THE REQUIRED CATEGORIES AND BUDGET AMOUNTS. THE COLLEGE SETS UP A SEPARATE GENERAL LEDGER ACCOUNT FOR EACH GRANT THAT IS RECEIVED IN ORDER TO PROVIDE COMPLETE DOCUMENTATION AND TRACK EXPENSES. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HANNAH M MCCARTHY | |||||||||||||
| 236154 | 0 | 15000 | 0 | 4908 | 0 | 7085 | 0 | 49792 | 0 | 312939 | 0 | 0 | 0 |
| JOYCE HANLON | |||||||||||||
| 148647 | 0 | 10000 | 0 | 0 | 0 | 4460 | 0 | 604 | 0 | 163711 | 0 | 0 | 0 |
| JOSEPH CHILLO | |||||||||||||
| HANNAH LEVERTOV | |||||||||||||
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 |
| CUSIP Number | 57583RP66 | CUSIPNumber |
| Date Issued | 2009-10-01 | DateIssued |
| Issue Price | 10250000 | IssuePrice |
| Description Of Purpose | SEE SCHEDULE O | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Proceeds | 10064494 | TotalProceeds |
| Issuance Costs From Proceeds | 185506 | IssuanceCostsFromProceeds |
| Capital Expenditures | 9950000 | CapitalExpenditures |
| Other Spent Proceeds | 114494 | OtherSpentProceeds |
| Year Of Subst Completion | 1996 | YearOfSubstCompletion |
| Current Refunding | 0 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Post Issuance Compliance Procdrs | 1 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CITIZENS BANK | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 5.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule M IRS990ScheduleM
Other Non Cash Contributions Table OtherNonCashContributionsTable (4 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | CATERING SERVICES | 1 | 18750 | FAIR MARKET VALUE OF SERVICES |
| X | ADVERTISING SERVICES | 1 | 11000 | FAIR MARKET VALUE OF SERVICES |
| X | CLOTHING & ACCESSORIES | 1 | 10000 | FAIR MARKET VALUE OF ITEMS |
| X | CATERING, EQUIPMENT & SUPPLIES | 1 | 5000 | FAIR MARKET VALUE OF SERVICES |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD OF DIRECTORS WILL REVIEW THE 990 FOR ACCURACY BEFORE IT IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY B. HAS READ AND UNDERSTANDS THE POLICY C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THAT NEWBURY IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION COMMITTEE OF THE BOARD SHALL REVIEW AND APPROVE THE COMPENSATION POLICIES AND PROGRAMS OF PRINCIPAL ADMINISTRATORS. THE POLICY OF THE COLLEGE IS TO PROVIDE DIRECT COMPENSATION PROGRAMS THAT REFLECT THE RELATIVE SIZE AND TYPE OF EDUCATION CURRICULUM OF THE COLLEGE IN THE SEGMENT OF HIGHER EDUCATION INSTITUTIONS OF WHICH IT IS A PART AND WHICH ACCOMPLISH THE COLLEGE'S MISSION AND TAX-EXEMPT PURPOSE WITHOUT CAUSING ANY PART OF THE COLLEGE'S NET EARNINGS TO ENSURE TO THE PRIVATE BENEFIT OF AN INDIVIDUAL OR GROUP OF INDIVIDUALS. THE COMMITTEE WILL ACCOMPLISH THIS POLICY IN THE FOLLOWING MANNER: - DETERMINE THE RELEVANT MARKET DATA FOR THE PRINCIPAL ADMINISTRATOR POSITION IT REVIEWS BY OBTAINING RELIABLE AND COMPARABLE DATA FROM PUBLISHED SURVEYS OF BOTH TAX-EXEMPT AND FOR-PROFIT ORGANIZATIONS FOCUSING ON DATA FROM COMPARABLY ORGANIZED INSTITUTIONS WITH SIMILARLY SIZED BUDGETS. - DEVELOP A TARGET BASE PAY RANGE BUILT OFF THE MEDIAN OF THE MARKET DATA. - SET BASE SALARY BY CONSIDERING BOTH MARKET DATA AND EACH INDIVIDUAL'S BACKGROUND EXPERIENCES, SKILLS, AND MERITORIOUS CONTRIBUTION. - SET SALARY INCREASE REASSESSMENTS BASED ON EXTERNAL EQUITY, INTERNAL EQUITY, AND/OR MERIT. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVALIABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, LINE 2C | THE BOARD OF TRUSTEES IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND THE HIRING OF AN INDEPENDENT ACCOUNTANT. |
| FORM 990, PART XI, LINE 5 | NET UNREALIZED LOSSES OF $59,850. |
| SCHEDULE K, PART I, LINE A, BOX F | THE PURPOSE OF THE ISSUANCE WAS TO PAY CERTAIN COSTS OF ISSUANCE OF THE 2009 BOND AND REFINANCE THE SERIES 1996 BOND. THE PROCEEDS OF THE 1996 BOND WERE USED FOR THE FOLLOWING: ACQUISITION OF BUCKMINSTER HALL AND HOLLAND HALL, COSTS OF CONSTRUCTION AND IMPROVEMENTS FOR BUILDINGS ON CAMPUS AND PURCHASE OF EQUIPMENT AND FURNITURE FOR CAMPUS BUILDINGS. |