2012-04-13T07:34:16-05:00 2011-05-31 GRANT THORNTON LLP 226 CAUSEWAY STREET BOSTON MA 021142155 990 2010-06-01 042199867 CURRY COLLEGE CURR 6173332302 1071 BLUE HILL AVENUE MILTON MA 02186 Richard F Sullivan 2012-04-12 LAURA J KENNEY 6177237900 2012-04-11 2010 2016-02-24 21:20:13Z RICHARD F SULLIVAN 1071 BLUE HILL AVENUE MILTON MA 02186 113245560 false X WWW.CURRY.EDU X 1879 MA TO DEVELOP LIBERALLY EDUCATED PERSONS WHO ARE ABLE TO GAIN AND TO APPLY KNOWLEDGE HUMANELY, INTELLIGENTLY, AND EFFECTIVELY IN A COMPLEX, CHANGING WORLD. 17 16 1538 46 0 0 849444 1372613 83450144 86646513 1780071 2303095 1304113 1649226 87383772 91971447 15120458 16574703 0 0 38974608 39831685 0 0 884565 25149180 26683193 79244246 83089581 8139526 8881866 167805919 180553878 93335966 91763539 74469953 88790339 X TO DEVELOP LIBERALLY EDUCATED PERSONS WHO ARE ABLE TO GAIN AND TO APPLY KNOWLEDGE HUMANELY, INTELLIGENTLY, AND EFFECTIVELY IN A COMPLEX CHANGING WORLD. false false 41131274 16428353 70208000 INSTRUCTION - CURRY COLLEGE SERVES APPROXIMATELY 2,000 FULL TIME, TRADITIONAL UNDERGRADUATE STUDENTS, 1,330 CONTINUING EDUCATION STUDENTS AND 445 GRADUATE STUDENTS. CURRY OFFERS 20 MAJORS AND OVER 65 MINORS AND CONCENTRATIONS. 16902574 STUDENT SERVICES - CURRY COLLEGE OFFERS A WIDE VARIETY OF EXTRA AND CO-CURRICULAR ACTIVITIES. THESE INCLUDE THIRTEEN NCAA DIVISION III ATHLETIC TEAMS, INTRAMURAL SPORTS AND OVER 30 STUDENT CLUBS AND GROUPS. 10613725 18071223 AUXILIARY ENTERPRISES - CURRY COLLEGE PROVIDES HOUSING AND MEAL SERVICES TO STUDENTS. MORE THAN 1,300 STUDENTS RESIDE ON CAMPUS IN 18 DIFFERENT RESIDENCE HALLS. 5979300 145978 74626873 true true false false false false false true true true true false true true true true false true false false false false false true false false true true true true false false false false false false false false false false true false false false false false false false false false true 64 0 true 1538 true false false false false false true true false false false false X 17 16 false false false false false false false true true false false true true true true true true true true false MA X RICHARD F SULLIVAN CFO 6173332302 CURRY COLLEGE 1071 BLUE HILL AVE MILTON MA 02186 KENNETH K QUIGLEY JR 40.0 X X 448467 0 89744 DR SALVATORE A BALSAMO 1.0 X 0 0 0 ANTHONY M CAMPO ESQ 1.0 X 0 0 0 DR MELVIN B DRAPKIN 1.0 X 0 0 0 DAVID K HEMENWAY 1.0 X 0 0 0 JOHN W KEITH 1.0 X 0 0 0 VINCENT J LOMBARDO 1.0 X 0 0 0 JOHN T MAHONEY ESQ 1.0 X 0 0 0 DR JOYCE A MURPHY 1.0 X 0 0 0 ROBERT M PLATT 1.0 X 0 0 0 JOSEPH P PLUNKETT 1.0 X 0 0 0 MITCHELL I QUAIN 1.0 X 0 0 0 CURTIS RODMAN 1.0 X 0 0 0 DR JOHN J SANTILLI 1.0 X 0 0 0 KATHRYN M SARDELLA 1.0 X 0 0 0 JERALD S SAVAGE CPA 1.0 X 0 0 0 DR JAMES M SULLIVAN 1.0 X 0 0 0 RICHARD F SULLIVAN 40.0 X 289093 0 29139 DAVID POTASH 40.0 X 202319 0 26734 CHRISTOPHER M LAWSON 40.0 X 197826 0 26196 MARYELLEN M KILEY 40.0 X 168638 0 18735 SUSAN W PENNINI 40.0 X 157477 0 25485 DENNIS M THIBEAULT 40.0 X 156961 0 19366 JANE P FIDLER 40.0 X 157210 0 17310 1777991 0 252709 39 false true false Sodexo Inc and Affiliates 1071 Blue Hill Avenue MILTON MA 02186 DINING SERVICES 3514735 McGarr Service Corporation 367 Western Avenue BOSTON MA 02135 Cleaning Services 1323914 Cavalier Coach Corporation 905 Massachusetts Avenue BOSTON MA 02218 Transportation Svcs. 448654 Tuition Management Systems 127 John Clarke Road NEWPORT RI 02842 Web Payment Services 223732 Thompson's Electric Shop PO Box 742 252 Minot Street BOSTON MA 02124 Electrical Services 209300 8 0 0 10975 0 34345 1327293 51684 1372613 TUITION AND FEES 900099 70208000 70208000 0 0 RESIDENCE HALL 721000 9378001 0 0 9378001 BOOKSTORE 451211 146155 0 0 146155 MEAL PLANS 722320 6914357 0 0 6914357 86646513 1638057 0 0 1638057 156071 0 0 156071 0 0 0 0 0 0 0 0 0 0 0 0 0 0 21763487 0 21254520 0 508967 0 508967 0 0 508967 36110 10975 19593 16517 0 16517 0 0 0 0 0 0 0 0 0 0 0 0 SPORTS CAMP REVENUE 900099 593130 0 0 593130 DAYCARE & OTHER VENDING 624410 581917 0 0 581917 FACILITIES REVENUE 900099 445490 0 0 445490 12172 0 0 12172 1632709 91971447 70208000 0 20390834 146350 146350 16428353 16428353 0 0 0 0 1085497 222170 648043 215284 0 0 0 0 29693381 24084596 5470598 138187 1936034 1528929 384871 22234 4922118 3887106 978485 56527 2194655 1733168 436283 25204 0 0 0 0 203455 5168 198287 0 85455 0 85455 0 0 0 0 0 0 0 0 0 0 0 309120 114807 194313 0 1025434 985129 27102 13203 2893728 1193082 1691758 8888 408653 45193 363451 9 4011 4011 0 0 4100636 2374451 1716612 9573 867115 723400 134297 9418 0 0 0 0 1637417 1223258 358685 55474 4014298 3631263 250088 132947 0 0 0 0 4951692 4114654 747290 89748 572022 8098 563924 0 DINING 3652430 3652430 0 0 TEMPORARY EMPLOYMENT AGENCIES 129917 16923 108851 4143 REALLOCATION OF EXPENSES 0 7392071 -7483141 91070 OTHER CONTRACTED SERVICES 350321 115635 234686 0 BAD DEBT EXPENSE 413642 410224 3418 0 1063847 586404 464787 12656 83089581 74626873 7578143 884565 142628 186940 367089 2126568 10000 144147 811498 1266802 0 0 0 0 275504 252385 0 0 748598 749859 135485886 43527102 95282677 91958784 40632291 57522137 19099229 15914563 0 0 0 0 10436405 10431693 167805919 180553878 9437405 9774151 0 0 2203524 2176743 80765558 78859581 0 0 0 0 0 0 0 0 929479 953064 93335966 91763539 X 70476759 84300092 2541072 2994277 1452122 1495970 0 0 0 0 0 0 74469953 88790339 167805919 180553878 X 8881866 5438520 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40738024 9569256 7513959 73267 274068 57473904 29415831 6317688 5341688 57531 279652 40738024 32964568 344256 -3430548 132206 330239 29415831 0.92000 0.03000 0.05000 false false 2350857 2350857 103528118 23747834 79780284 361357 356544 4813 19360470 15121729 4238741 9885084 4300995 5584089 91958784 REPURCHASE AGREEMENT W/BANKS 15914563 F 15914563 DEBT SERVICE RESERVE 6917765 DEBT ISSUANCE COSTS, NET 3513928 10431693 0 STUDENT DEPOSITS 618149 GOVERNMENT ADVANCES - STUDENT LOANS 302784 AGENCY FUNDS 32131 953064 91971447 83089581 8881866 5438520 0 0 0 0 5438520 14320386 80981614 5438520 0 0 0 5438520 75543094 0 16428353 16428353 91971447 66661228 0 0 0 0 0 66661228 0 16428353 16428353 83089581 SCHEDULE D PART V, LINE 4 THE COLLEGE INTENDS TO USE ALL OF ITS ENDOWMENT FUNDS IN SUPPORT OF ITS EXEMPT PURPOSE. EXTERNALLY RESTRICTED FUNDS WILL BE USED IN A MANNER CONSISTENT WITH DONOR RESTRICTIONS, INCLUDING SCHOLARSHIPS, FACILITIES AND VARIOUS STUDENT SERVICES. THE SPECIFIC USE OF UNRESTRICTED FUNDS WILL BE AS APPROVED BY THE COLLEGE'S GOVERNING BOARD ON NEEDS IDENTIFIED AT THE TIME. SCHEDULE D PART X, LINE 2 U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PROVIDE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. MANAGEMENT BELIEVES THAT THE COLLEGE'S INCOME TAX RETURNS FOR FISCAL YEARS 2007 AND PRIOR ARE NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. THE COLLEGE HAD NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES AT MAY 31, 2011 AND 2010. SCHEDULE D PART XII, LINE 4B TOTAL REVENUE PER THE AUDITED FINANCIAL STATEMENTS IS PRESENTED NET OF INSTITUTIONAL SCHOLARSHIPS. FOR PURPOSES OF FORM 990 REPORTING, TOTAL REVENUE HAS BEEN GROSSED UP BY INSTITUTIONAL SCHOLARSHIPS OF $16,428,353. SCHEDULE D PART XIII, LINE 4B FOR PURPOSES OF FORM 990 REPORTING, TOTAL EXPENSES PER THE AUDITED FINANCIAL STATEMENTS OF $66,661,228 HAVE BEEN GROSSED UP BY INSTITUTIONAL SCHOLARSHIPS OF $16,428,353. ON THE AUDITED FINANCIAL STATEMENTS, THESE INSTITUTIONAL SCHOLARSHIPS ARE PRESENTED AS AN OFFSET TO STUDENT TUITION AND FEES REVENUE. true true true true true true true false false false false false false false false true false true SCHEDULE E PART 1, LINE 3: Curry College is an independent nonsectarian institution that admits students who have the necessary preparation and background to meet the requirements of the college. No student is denied admission on the grounds of race, religion, national origin, age or sex and provided that he or she has the necessary preparation and background. This information is published in various literature promoting the college and the annual Curry College Course Catalog. The College's nondiscrimination policy can be found on its website at www.curry.edu. SCHEDULE E PART 1, LINE 6a Certain students of the College receive financial aid from the state and federal government in the form of grants and loans. The College awards grants and loans under the Federal Pell Grant, William D. Ford Federal Direct Loan Program, Federal Work Study, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Perkins Loan Program, National Science and Mathematics Access to Retain Talent Grants (SMART), and Academic Competitiveness Grants (ACG). FOOTBALL GOLF 17555 3700 13855 0 1200 6000 1536 0 800 HOCKEY GOLF 29530 7275 22255 0 1000 7000 2057 0 0 0 0 0 0 0 0 0 0 0 0 47085 10975 36110 0 2200 13000 3593 0 800 19593 16517 true Town of Milton 525 Canton Ave Milton MA 02186 046001228 Section 115 51250 0 FMV N/A Milton PILOT Cape Cod Baseball League PO Box 266 Harwhichport MA 02646 042687718 501(c)(3) 15500 0 FMV N/A Sponsorship Rodman Ride For Kids Inc 10 Lincoln Road Foxboro MA 02035 043329283 501(c)(3) 10000 0 FMV N/A Sponsorship Milton Foundation for Education PO Box 223 Milton MA 02148 043307338 501(c)(3) 10000 0 FMV N/A Sponsorship Home for Little Wanderers 271 Huntington Ave Boston MA 02115 042104764 501(c)(3) 6000 0 FMV N/A Sponsorship 5 0 CURRY COLLEGE INSTITUTIONAL SCHOLARSHIP 2002 15852120 TUITION DISCOUNTS 57 122092 STIPENDS 79 454141 SCHEDULE I PART 1, LINE 1 THE COLLEGE ISSUES SCHOLARSHIPS TO STUDENTS WHO MATRICULATE TO THE COLLEGE. THE STUDENT DOES NOT HAVE ANY DISCRETION ON HOW THE FUNDS ARE USED; ALL FUNDS ARE USED TO DEFRAY THE COSTS OF ATTENDING CURRY COLLEGE, THEREFORE, THE COLLEGE IS NOT REQUIRED TO FURTHER MONITOR THE USE OF THE GIFTED FUNDS. THE COLLEGE MAINTAINS A COMPUTERIZED SYSTEM WITH INTEGRATED CONTROLS TO ENSURE THAT SCHOLARSHIP AWARDS ARE MADE IN ACCORDANCE WITH ESTABLISHED CRITERIA AS APPROVED BY SENIOR MANAGEMENT AND FEDERAL AND STATE AUTHORITIES, AS APPROPRIATE. A SERIES OF REPORTS HAVE BEEN DEVELOPED AND ARE USED BY MANAGEMENT TO IDENTIFY AND ADDRESS ANY EXCEPTIONS. ANNUALLY, THE COLLEGE'S FINANCIAL AID AWARDING PROCESS IS AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE UNITED STATES ARE REVIEWED AND APPROVED BY THE COLLEGE'S PRESIDENT AND CHIEF FINANCIAL OFFICER. IN EACH CASE, THE COLLEGE IS AWARE OF THE CHARITABLE USE OF THE FUNDS, WHICH IS TYPICALLY FOR THE GENERAL PURSUIT OF THE ORGANIZATION'S EXEMPT PURPOSES AND NOT EARMARKED FOR A SPECIFIC USE. X X X X X false true X X X X false false false false false false false true false KENNETH K QUIGLEY JR 360885 0 75000 0 12582 0 17150 0 72594 0 538211 0 0 0 RICHARD F SULLIVAN 197232 0 75000 0 16861 0 14337 0 14802 0 318232 0 0 0 DAVID POTASH 167049 0 35000 0 270 0 12224 0 14510 0 229053 0 0 0 CHRISTOPHER M LAWSON 155373 0 25000 0 17453 0 11407 0 14789 0 224022 0 0 0 MARYELLEN M KILEY 134873 0 15000 0 18765 0 9399 0 9336 0 187373 0 0 0 SUSAN W PENNINI 156196 0 0 0 1281 0 11000 0 14485 0 182962 0 0 0 DENNIS M THIBEAULT 141187 0 15000 0 774 0 9924 0 9442 0 176327 0 0 0 JANE P FIDLER 115210 0 30000 0 12000 0 8065 0 9245 0 174520 0 0 0 PART 1 LINE 1A ON A VERY LIMITED BASIS, THE COLLEGE PROVIDES TRAVEL FOR COMPANIONS FOR THE PRESIDENT AND OTHER SENIOR STAFF MEMBERS REQUIRED TO ATTEND CERTAIN COLLEGE RELATED EVENTS WHEN NECESSARY FOR THE EMPLOYEE TO CARRY OUT HIS/HER DUTIES. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION FOR THESE LISTED INDIVIDUALS. THE COLLEGE PROVIDES TAX INDEMNIFICATION AND GROSS-UP PAYMENTS RELATED TO THE USE OF COLLEGE PROVIDED VEHICLES FOR THE CHIEF DEVELOPMENT OFFICER, DEAN OF STUDENTS, AND THE DEAN OF ADMISSIONS. THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION FOR THESE LISTED PEOPLE. THE COLLEGE PROVIDES A RESIDENCE FOR PERSONAL USE, AS WELL AS MAINTAINS THIS RESIDENCE FOR THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE IN THIS RESIDENCE AS A CONDITION OF EMPLOYMENT. THE NON-BUSINESS RELATED PORTION OF THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT. THE COLLEGE PROVIDES ITS CHIEF DEVELOPMENT OFFICER WITH MEMBERSHIP TO A SOCIAL CLUB WHICH IS USED FOR FUNDRAISING ACTIVITY. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION FOR THIS INDIVIDUAL. PART I, LINE 1B ON A CASE BY CASE BASIS, PAYMENT AND REIMBURSEMENTS ARE APPROVED BY THE BOARD OF TRUSTEES OR THE PRESIDENT, AS APPROPRIATE. PART 1, LINE 7 ON AN ANNUAL BASIS THE BOARD OF TRUSTEES, THROUGH ITS FINANCE AND PHYSICAL FACILITIES COMMITTEE, APPROVES DISCRETIONARY BONUSES, INCLUDING THOSE REFLECTED IN FORM 990 SCHEDULE J, PART II. PURSUANT TO THE COLLEGE'S BOARD-APPROVED KEY EMPLOYEE COMPENSATION POLICY, THE AMOUNTS ARE BASED ON INDIVIDUAL PERFORMANCE AND A REVIEW OF THE EMPLOYEE'S TOTAL COMPENSATION IN COMPARISON TO THOSE IN SIMILAR ROLES AT OTHER EMPLOYERS. Massachusetts Development Finance Agency 043431814 57583FQ79 2003-06-25 9348682 CONSTRUCTION OF RESIDENCE HALL false false false Massachusetts Development Finance Agency 043431814 57583RAV7 2005-05-27 19671813 SEE DESCRIPTION IN PART V false false false Massachusetts Development Finance Agency 043431814 57583RGB5 2006-08-16 35514127 SEE DESCRIPTION IN PART V false false false 1540000 0 9502240 711574 46536 0 187967 328086 0 8228077 0 0 2003 false false true true 2385000 0 20073999 1419137 401117 0 272741 614526 0 17366478 0 0 2006 false false true true 1330000 0 38429753 2831119 782441 0 444458 622293 0 33749442 0 0 2009 false false true true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false false false false false false false false false false false false false false false false false false SEE SCHEDULE O X 5 51684 FMV 0 false false true PART I, LINE 32A THE COLLEGE MAKES A PRACTICE OF SELLING ALL NONCASH CONTRIBUTIONS OF SECURITIES UPON RECEIPT. THESE SECURITIES ARE SOLD THROUGH A REGISTERED BROKER-DEALER. PART III LINE 4D ACADEMIC SUPPORT - CURRY COLLEGE ACADEMICALLY SUPPORTS STUDENTS WITH OUR ACADEMIC ENRICHMENT CENTER AND CAMPUS LIBRARY. IN ADDITION, THE CAMPUS IS CONNECTED BY A NETWORK THAT LINKS ALL ACADEMIC FACILITIES AND RESIDENCE HALLS ENABLING STUDENTS DIRECT ACCESS TO E-MAIL, LIBRARY SOURCES AND THE INTERNET. PART VI, SECTION B, LINE 11A THE FORM 990 WAS PREPARED BY THE COLLEGE'S CONTROLLER AND REVIEWED BY THE CHIEF FINANCIAL OFFICER AS WELL AS THE COLLEGE'S OUTSIDE TAX FIRM. A COPY OF THE 990 WAS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO THE FORM 990 BEING SUBMITTED TO THE INTERNAL REVENUE SERVICE. PART VI, SECTION B, LINE 12C THE COLLEGE HAS TWO CONFLICT OF INTEREST POLICIES, ONE THAT COVERS ALL BOARD MEMBERS AND A SECOND THAT COVERS ALL EMPLOYEES. BOTH POLICIES ARE UNDER THE OVERSIGHT OF THE BOARD OF TRUSTEES. THE CFO AND/OR PRESIDENT REVIEW POTENTIAL CONFLICTS OF INTEREST BY EMPLOYEES AND ALL NON-INTERESTED TRUSTEES REVIEW POTENTIAL CONFLICTS OF INTEREST BY TRUSTEES. THE PERSON WITH THE POTENTIAL CONFLICT WOULD PROVIDE INFORMATION TO THE BOARD OR CFO/PRESIDENT AS APPLICABLE. IN THE CASE OF TRUSTEES WITH A POTENTIAL CONFLICT OF INTEREST, THEY WOULD LEAVE THE BOARD MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT WHICH RESULTED IN THE CONFLICT. PART VI, SECTION B, LINE 15 A & B THE COLLEGE HAS A COMPENSATION POLICY WHICH COVERS THE CEO (PRESIDENT), CFO, AND ALL OTHER SENIOR MANAGEMENT. FOR THE CEO AND CFO POSITIONS, AN INDEPENDENT CONSULTANT IS ENGAGED TO PREPARE A REPORT THAT COMPARES THE COMPENSATION OF THESE POSITIONS TO PEER INSTITUTIONS, OTHER NOT FOR PROFIT ORGANIZATIONS, AS WELL AS TO THE GENERAL INDUSTRY. FOR ALL OTHER SENIOR MANAGEMENT POSITIONS, THE DIRECTOR OF HUMAN RESOURCES UTILIZES SURVEY INFORMATION TO PROVIDE COMPARABILITY DATA. THE PROCESSES ARE UNDERTAKEN ON AN ANNUAL BASIS, MOST RECENTLY AUGUST 2010 AND 2011. THE COMPENSATION FOR THESE INDIVIDUALS IS APPROVED BY THE FINANCE AND PHYSICAL FACILITIES COMMITTEE OF THE BOARD OF TRUSTEES, AND THERE IS CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATION AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST. PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES REPRESENTS THE NET UNREALIZED GAINS ON THE COLLEGE'S INVESTMENTS. SCHEDULE K, PART I, LINE B, COLUMN F BONDS WERE ISSUED TO CONSTRUCT A RESIDENCE HALL, PURCHASE A NEW PIECE OF PROPERTY, CONSTRUCT AN ARTIFICIAL TURF ATHLETIC FIELD, CONSTRUCT A NEW DAYCARE FACILITY, AND OTHER CAPITAL IMPROVEMENTS. SCHEDULE K, PART I, LINE B, COLUMN F BONDS WERE ISSUED TO DEMOLISH AN EXISTING STUDENT CENTER AND CONSTRUCT A NEW STUDENT CENTER, CONSTRUCTION OF A NEW ACADEMIC BUILDING, AND EXPANSION AND RENOVATION OF AN EXISTING ADMINISTRATIVE OFFICE BUILDING.