FRANKLIN W OLIN COLLEGE OF ENGINEERING INC: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- FRANKLIN W OLIN COLLEGE OF ENGINEERING INC (EIN 06-1519057)
- Tax period
- 2009-07-01 to 2010-06-30
- Filed
- 2011-05-03
- IRS object ID
- 201141239349300004
- Schema version
- 2009v1.7
- 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 I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-05-03T09:21:17-05:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ Tofias | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 350 Massachusetts Avenue | AddressLine1 |
| City | Cambridge | City |
| State | MA | State |
| ZIP Code | 02139 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 061519057 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKLIN W OLIN COLLEGE OF ENGINEERING INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FRAN | NameControl |
| Phone | 7812922300 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | OLIN WAY | AddressLine1 |
| City | NEEDHAM | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Stephen Hannabury | Name |
| Title | executive VP & Treasurer | Title |
| Phone | 7812922401 | Phone |
| Date Signed | 2011-04-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JOSEPH M GISO MST | Name |
| Phone | 6177610600 | Phone |
| Date Prepared | 2011-04-08 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Richard K Miller | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | OLIN WAY | AddressLine1 |
| City | NEEDHAM | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 265776778 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.OLIN.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1997 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | highly selective four-year undergraduate engineering college with a unique interdisciplinary, project-based curriculum emphasizing entrepreneurship, liberal arts, and rigorous science and engineering fundamentals. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 16 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 15 | NbrIndependentVotingMembers |
| Total Nbr Employees | 320 | TotalNbrEmployees |
| Total Nbr Volunteers | 56 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -48003 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 2118420 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 2281149 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 14929362 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 16631596 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -23179659 | InvestmentIncomePriorYear |
| Investment Income Current Year | 9098376 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1052993 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1118872 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | -5078884 | TotalRevenuePriorYear |
| Total Revenue Current Year | 29129993 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 10898251 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 12132030 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12252839 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 12649073 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1006976 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 30837529 | OtherExpensePriorYear |
| Other Expenses Current Year | 23800662 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 53988619 | TotalExpensesPriorYear |
| Total Expenses Current Year | 48581765 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -59067503 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -19451772 | RevenuesLessExpensesCY |
| Total Assets BOY | 457083220 | TotalAssetsBOY |
| Total Assets EOY | 458492332 | TotalAssetsEOY |
| Total Liabilities BOY | 178035826 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 178563405 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 279047394 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 279928927 | NetAssetsOrFundBalancesEOY |
| Mission Description | Olin College prepares students to become exemplary engineering innovators who recognize needs, design solutions, and engage in creative enterprises for the good of the world. Olin College seeks to redefine engineering as a profession of innovation encompassing 1) the consideration of human and societal needs; 2) the creative design of engineering systems; and 3) the creation of value through entrepreneurial effort and philanthropy. The College is dedicated to the discovery and development of the most effective educational approaches and aspires to serve as a model for others. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 37855515 | Expense |
| Grants | 12132030 | Grants |
| Revenue | 17647484 | Revenue |
| Description | Franklin W. Olin College of Engineering, Inc. (The College) was founded in 1997 by the F.W. Olin Foundation Inc. and graduated its first class in May 2006. The College is an independent nonsectarian college offering undergraduate programs leading toward degrees in engineering. There are approximately 340 students drawn from around the world. The campus is located in Needham, Massachusetts. Every admitted student receives an eight semester full tuition merit scholarship over four years. The College is accredited by the New England Association of Schools and Colleges (NEASC) and the College's three degree programs are accredited by ABET, the accrediting organization for engineering programs. | Description |
| Total Program Service Expense | 37855515 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 1 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | 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 | 1 | 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 | 1 | 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 |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 368 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 320 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| 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 | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Nbr Voting Governing Body Members | 16 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 15 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | 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 |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | STEPHEN P HANNABURY executive VP | NamePerson |
| Telephone Number | 7812922401 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | OLIN WAY | AddressLine1 |
| City | NEEDHAM | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (28 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| William B Norden | ||||||||
| Chairman | 8.00 | X | X | 0 | 0 | 0 | ||
| Cara L Gude | ||||||||
| Vice Chair | 6.00 | X | X | 0 | 0 | 0 | ||
| Elizabeth G Armstrong | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| George R Berbeco | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Tullio Cedraschi | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Sunlin Chou | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| William R Cotter | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Tamara P Davis | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| C Scott Gibson | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Sherwin Greenblatt | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Paul C Jennings | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Robert N McBurney | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Lawrence W Milas | ||||||||
| Clerk | 4.00 | X | X | 0 | 0 | 0 | ||
| John W Prados | ||||||||
| Trustee | 4.00 | X | 0 | 0 | 0 | |||
| Douglas G Rauch | ||||||||
| Clerk | 4.00 | X | X | 0 | 0 | 0 | ||
| Richard K Miller | ||||||||
| President | 40.00 | X | X | 348000 | 0 | 113628 | ||
| Stephen P Hannabury | ||||||||
| Exec. VP & Treasurer | 40.00 | X | 246498 | 0 | 49229 | |||
| christine Kelly | ||||||||
| asst. Clerk of the board | 40.00 | X | 85529 | 0 | 15539 | |||
| Michael Moody | ||||||||
| VP Academic Affairs | 40.00 | 228976 | 0 | 74655 | X | |||
| Charles Nolan | ||||||||
| VP External Affairs | 40.00 | 213181 | 0 | 34913 | X | |||
| Joanne M Kossuth | ||||||||
| VP Operations | 40.00 | 196747 | 0 | 37050 | X | |||
| Thomas Krimmel | ||||||||
| VP Development | 40.00 | 247221 | 0 | 53126 | X | |||
| Roger Crafts | ||||||||
| Dean of Student Life | 40.00 | 155822 | 0 | 51170 | X | |||
| John Bourne | ||||||||
| Professor | 40.00 | 237588 | 0 | 35734 | X | |||
| Stephen Holt | ||||||||
| Professor | 40.00 | 177494 | 0 | 20130 | X | |||
| David V Kerns | ||||||||
| Professor | 40.00 | 164722 | 0 | 39061 | X | |||
| David Barrett | ||||||||
| Professor | 40.00 | 136521 | 0 | 12776 | X | |||
| Ronald Guerriero | ||||||||
| Dir. of Business Dev. | 40.00 | 131048 | 0 | 11073 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2569347 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 548084 | TotalOtherCompensation |
| Number Individuals GT100 K | 27 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| CommonFund | |||||
| 15 old danbury road | milton | CT | 06897 | investment services | 2518567 |
| Aramark Facilities Services | |||||
| 1101 market street | philadelphia | PA | 19107 | facility services management | 1508604 |
| Sodexo Inc & Affiliates | |||||
| 9801 washington boulevard | gaithersburg | MD | 20878 | facility services management | 1419737 |
| Babson College | |||||
| 231 forest street | babson park | MA | 02457 | shared administrative services | 869698 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| Government Grants | 378837 | GovernmentGrants |
| All Other Contributions | 1902312 | AllOtherContributions |
| Noncash Contributions | 62718 | NoncashContributions |
| Total Contributions | 2281149 | TotalContributions |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | STUDENT tuition/FEES | Description |
| Business Code | 611310 | BusinessCode |
| Total Revenue Column | 16631596 | TotalRevenueColumn |
| Related Or Exempt Function Income | 16631596 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 16631596 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 5478519 | TotalRevenueColumn |
| Exclusion | $5,478,519 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 114247 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 11263 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 102984 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 102984 | TotalRevenueColumn |
| Exclusion | $102,984 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 240241953 | Securities |
| Other | 13426 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 236635522 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 3606431 | Securities |
| Other | 13426 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3619857 | TotalRevenueColumn |
| Exclusion | $3,619,857 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OTHER INCOME | Description |
| Business Code | 611310 | BusinessCode |
| Total Revenue Column | 1015888 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1015888 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1015888 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29129993 | TotalRevenueColumn |
| Related Or Exempt Function Income | 17647484 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $9,201,360 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11586030 | Total |
| Program Services | 11586030 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 546000 | Total |
| Program Services | 546000 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1684400 | Total |
| Program Services | 542185 | ProgramServices |
| Management And General | 891986 | ManagementAndGeneral |
| Fundraising | 250229 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8480520 | Total |
| Program Services | 5973234 | ProgramServices |
| Management And General | 2090486 | ManagementAndGeneral |
| Fundraising | 416800 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 878202 | Total |
| Program Services | 543954 | ProgramServices |
| Management And General | 258394 | ManagementAndGeneral |
| Fundraising | 75854 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 935368 | Total |
| Program Services | 599905 | ProgramServices |
| Management And General | 241823 | ManagementAndGeneral |
| Fundraising | 93640 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 670583 | Total |
| Program Services | 429824 | ProgramServices |
| Management And General | 196755 | ManagementAndGeneral |
| Fundraising | 44004 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 53167 | Total |
| Management And General | 53167 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100849 | Total |
| Management And General | 100849 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2706158 | Total |
| Management And General | 2706158 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2212099 | Total |
| Program Services | 2059243 | ProgramServices |
| Management And General | 147547 | ManagementAndGeneral |
| Fundraising | 5309 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18271 | Total |
| Program Services | 12192 | ProgramServices |
| Management And General | 5554 | ManagementAndGeneral |
| Fundraising | 525 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1297669 | Total |
| Program Services | 795573 | ProgramServices |
| Management And General | 477665 | ManagementAndGeneral |
| Fundraising | 24431 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 816330 | Total |
| Program Services | 300131 | ProgramServices |
| Management And General | 514236 | ManagementAndGeneral |
| Fundraising | 1963 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 899337 | Total |
| Program Services | 837193 | ProgramServices |
| Management And General | 59986 | ManagementAndGeneral |
| Fundraising | 2158 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 572180 | Total |
| Program Services | 404326 | ProgramServices |
| Management And General | 127046 | ManagementAndGeneral |
| Fundraising | 40808 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 287714 | Total |
| Program Services | 38525 | ProgramServices |
| Management And General | 240371 | ManagementAndGeneral |
| Fundraising | 8818 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5301151 | Total |
| Program Services | 4934841 | ProgramServices |
| Management And General | 353587 | ManagementAndGeneral |
| Fundraising | 12723 | Fundraising |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 718122 | Total |
| Program Services | 244444 | ProgramServices |
| Management And General | 473678 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5407888 | Total |
| Program Services | 5034203 | ProgramServices |
| Management And General | 360706 | ManagementAndGeneral |
| Fundraising | 12979 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 142515 | Total |
| Management And General | 142515 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| Dining services | 1171122 | 1171122 | ||
| debt management fees | 713918 | 664587 | 47618 | 1713 |
| equipment rental & Main | 606496 | 564587 | 40453 | 1456 |
| books, magazines & subs | 397255 | 389639 | 4508 | 3108 |
| other expenses | 175870 | 82361 | 93504 | 5 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 202551 | Total |
| Program Services | 101416 | ProgramServices |
| Management And General | 90682 | ManagementAndGeneral |
| Fundraising | 10453 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48581765 | Total |
| Program Services | 37855515 | ProgramServices |
| Management And General | 9719274 | ManagementAndGeneral |
| Fundraising | 1006976 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1526662 | BOY |
| EOY | 1725971 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48548 | BOY |
| EOY | 57036 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 380946 | BOY |
| EOY | 1041947 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 701712 | BOY |
| EOY | 668178 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28402 | BOY |
| EOY | 52241 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 490296 | BOY |
| EOY | 769581 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 154939805 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 38780117 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 120280799 | BOY |
| EOY | 116159688 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 328660305 | BOY |
| EOY | 335557332 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4965550 | BOY |
| EOY | 2460358 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 457083220 | BOY |
| EOY | 458492332 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4173528 | BOY |
| EOY | 2760902 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 246555 | BOY |
| EOY | 240631 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148831059 | BOY |
| EOY | 148879740 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24784684 | BOY |
| EOY | 26682132 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 178035826 | BOY |
| EOY | 178563405 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11821294 | BOY |
| EOY | 12262252 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 265135062 | BOY |
| EOY | 265501657 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2091038 | BOY |
| EOY | 2165018 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 279047394 | BOY |
| EOY | 279928927 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 457083220 | BOY |
| EOY | 458492332 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 0 | DirectContactLegislators |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part II-B, Line 1i: | Identifier |
| Return Reference | Explanation of Other Lobbying Activities: | ReturnReference |
| Explanation | The College is a member of the Association of Independent Colleges and Universities in Massachusetts (AICUM). AICUM is the leading voice on public policy matters relating to independent higher education in Massachusetts. AICUM may engage in lobbying activites. Therefore, an undetermined portion of the dues paid by the College to AICUM may be attributable to lobbying activities. | Explanation |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 328660306 | BeginningOfYearBalance |
| Contributions | 174055 | Contributions |
| Investment Earnings Or Losses | 28622971 | InvestmentEarningsOrLosses |
| Other Expenditures | 21900000 | OtherExpenditures |
| End Of Year Balance | 335557332 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 469570393 | BeginningOfYearBalance |
| Contributions | 44430 | Contributions |
| Investment Earnings Or Losses | -118844517 | InvestmentEarningsOrLosses |
| Other Expenditures | 22110000 | OtherExpenditures |
| End Of Year Balance | 328660306 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.00570 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.00650 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.98780 | TermEndowmentEOYBalance |
| 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 | 14604513 | OtherCostOrOtherBasis |
| Book Value | 14604513 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 129512990 | OtherCostOrOtherBasis |
| Depreciation | 32463785 | Depreciation |
| Book Value | 97049205 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1303796 | OtherCostOrOtherBasis |
| Depreciation | 535719 | Depreciation |
| Book Value | 768077 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9504772 | OtherCostOrOtherBasis |
| Depreciation | 5780613 | Depreciation |
| Book Value | 3724159 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 13734 | OtherCostOrOtherBasis |
| Book Value | 13734 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 116159688 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (7 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| equity funds | 114339398 | F |
| non-marketable real assets | 3918186 | F |
| directional & relative value funds | 98685329 | F |
| fixed funds | 73409687 | F |
| short-term investments | 31900 | F |
| real assets | 26536506 | F |
| non-marketable equity | 18636326 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 335557332 | TotalOfBookValueSecurities |
Other Assets OtherAssets (2 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| DEPOSITS WITH BOND TRUSTEES | 94462 |
| UNAMORTIZED BOND ISSUANCE COSTS | 2365896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 2460358 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| INTEREST RATE AGREEMENT | $16,682,132 |
| Taxable Bonds | $10,000,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 26682132 | TotalOfAmounts |
| Total Revenue | 29129993 | TotalRevenue |
| Total Expenses | 48581765 | TotalExpenses |
| Excess Or Deficit For Year | -19451772 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 19524595 | NetUnrealizedGLOnInvestments |
| Investment Expenses | 2706158 | InvestmentExpenses |
| Other | -$1,897,448 | OtherAmount |
| Total Adjustments | 20333305 | TotalAdjustments |
| Excess Or Deficit Per FS | 881533 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 36533821 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 19524595 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | 19524595 | RevenueNotRptdF990 |
| Revenue Subtotal | 17009226 | RevenueSubtotal |
| Other Revenues Not Included | 12120767 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 12120767 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 29129993 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 35652288 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 1897448 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 1897448 | ExpensesNotRptdF990 |
| Expenses Subtotal | 33754840 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 2706158 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 12120767 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 14826925 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 48581765 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Part V, Line 4: | Description of Intended Use of Endowment Funds: | Most of the College's endowment is made up of the Olin Endowment, which is required to be held in perpetuity, subject to the exceptions explained below, in order to fund merit scholarships for all students. The Grant Agreement that created the Olin Endowment provides for its use in certain circumstances, such as for the payment of certain debt service should unrestricted net assets be insufficient for that purpose, and for certain capital outlays. |
| Part X: | Description of Uncertain Tax Positions Under FIN 48: | The College accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The College has identified its tax status as a tax exempt entity as a tax position; however, the College has determined that such tax position does not result in an uncertainty requiring recognition. The College is not currently under examination by any taxing jurisdictions. The College's Federal and State tax returns are generally open for examination for three years following the date filed. |
| Part XI, Line 8 - Other Adjustments: | CHANGE IN FMV INTEREST RATE AGREEMENT: -1897448. | |
| Part XII, Line 4b - Other Adjustments: | financial aid: 12132030. rental expenses : -11263. | |
| Part XIII, Line 2d - Other Adjustments: | CHANGE IN FMV INTEREST RATE AGREEMENT: 1897448. | |
| Part XIII, Line 4b - Other Adjustments: | financial aid: 12132030. rental expenses: -11263. |
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 |
| Pub Via Broadcast Media Expln | The College includes a statement of non-discrimination in all brochures and on their website. The College does not discriminate on the basis of race, color, creed, national or ethnic origin, gender, religion, disability, age, sexual orientation, disabled veteran status, veteran of the Vietnam Era status, marital or citizenship status (except in those special circumstances permitted or mandated by law). | PubViaBroadcastMediaExpln |
| 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 |
| Govt Financial Aid Explanation | FEDERAL GRANTOR/PASS-THROUGH GRANTOR/PROGRAM OR CLUSTER TITLEAND FEDERAL EXPENDITURES:TOTAL DEPARTMENT OF EDUCATION: $455,868TOTAL NATIONAL SCIENCE FOUNDATION: $233,748TOTAL NATIONAL AERONAUTICS AND SPACE ADMINISTRATION: $27,059TOTAL DEPARTMENT OF DEFENSE: $70,502TOTAL NATIONAL INSTITUTE OF STANDARDS TECHNOLOGY: $5,426TOTAL DEPARTMENT OF HEALTH AND HUMAN SERVICES: $20,844 | GovtFinancialAidExplanation |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 1 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (6 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| Central America and the Caribbean | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 36400 |
| North America | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 72800 |
| Europe (Including Iceland & Greenland) | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 72800 |
| East Asia and the Pacific | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 254800 |
| Middle East and North Africa | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 36400 |
| South Asia | 0 | 0 | grants to recipients located in region | grantmaking & scholarships | 72800 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Total Amount Spent | 546000 | TotalAmountSpent |
Grants To Ind Outside US GrantsToIndOutsideUS (6 entries)
| Type Of AssistanceTypeOfAssistance | RegionRegion | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant | Manner Of Cash DisbursementMannerOfCashDisbursement |
|---|---|---|---|---|
| scholarships | Central America and the Caribbean | 1 | 36400 | credit to account |
| scholarships | North America | 2 | 72800 | credit to account |
| scholarships | Europe (Including Iceland & Greenland) | 2 | 72800 | credit to account |
| scholarships | East Asia and the Pacific | 7 | 254800 | credit to account |
| scholarships | Middle East and North Africa | 1 | 36400 | credit to account |
| scholarships | South Asia | 2 | 72800 | credit to account |
Form990 Schedule F Part IV Form990ScheduleFPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Grants Outside the U.S.: | Identifier |
| Explanation | Schedule F, Part I, Line 2: All accepted students currently receive a full Olin tuition scholarship which is credited directly to thier student accounts. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII (4 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant |
|---|---|---|
| Olin Scholarships | 333 | 11365690 |
| Need based aid | 35 | 144849 |
| supplemental educational opportunity grant required match | 15 | 6156 |
| scholarships | 14 | 69335 |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Grants in the U.S.: | Identifier |
| Return Reference | Part I, Line 2: | ReturnReference |
| Explanation | Schedule I, Part I, Line 2: All accepted students currently receive a full Olin tuition scholarship which is credited directly to thier student accounts. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Personal Services | X | PersonalServices |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| 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 (10 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Richard K Miller | |||||||||||||
| 341492 | 0 | 0 | 0 | 6508 | 0 | 28513 | 0 | 85115 | 0 | 461628 | 0 | 0 | 0 |
| Stephen P Hannabury | |||||||||||||
| 242263 | 0 | 0 | 0 | 4235 | 0 | 47659 | 0 | 1570 | 0 | 295727 | 0 | 0 | 0 |
| Michael Moody | |||||||||||||
| 227247 | 0 | 0 | 0 | 1729 | 0 | 23179 | 0 | 51476 | 0 | 303631 | 0 | 0 | 0 |
| Charles Nolan | |||||||||||||
| 210468 | 0 | 0 | 0 | 2713 | 0 | 27737 | 0 | 7176 | 0 | 248094 | 0 | 0 | 0 |
| Joanne M Kossuth | |||||||||||||
| 195047 | 0 | 0 | 0 | 1700 | 0 | 21911 | 0 | 15139 | 0 | 233797 | 0 | 0 | 0 |
| Thomas Krimmel | |||||||||||||
| 244759 | 0 | 0 | 0 | 2462 | 0 | 28047 | 0 | 25079 | 0 | 300347 | 0 | 0 | 0 |
| Roger Crafts | |||||||||||||
| 154959 | 0 | 0 | 0 | 863 | 0 | 16931 | 0 | 34239 | 0 | 206992 | 0 | 0 | 0 |
| John Bourne | |||||||||||||
| 169712 | 0 | 0 | 0 | 67876 | 0 | 19031 | 0 | 16703 | 0 | 273322 | 0 | 0 | 0 |
| Stephen Holt | |||||||||||||
| 173691 | 0 | 0 | 0 | 3803 | 0 | 18747 | 0 | 1383 | 0 | 197624 | 0 | 0 | 0 |
| David V Kerns | |||||||||||||
| 163816 | 0 | 0 | 0 | 906 | 0 | 23918 | 0 | 15143 | 0 | 203783 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part I, Line 1a | ReturnReference |
| Explanation | The President, the VP of Academic Affairs, and the dean of student life are provided non-taxable housing as a condition of employment. The College pays for landscaping and cleaning services at the President's house, which is owned by the College, due to the fact that certain college functions are held at the President's home. The College maintains a membership at two country clubs, under the names of the President and the VP of Development. Certain officers and key employees are provided with a cell phone allowance which is grossed up. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| Massachusetts development finance agency | ||||||
| 043431814 | 57583ft84 | 2003-08-13 | 64543027 | Campus Contruction | 0 | 0 |
| massachusetts development finance agency | ||||||
| 043431814 | 57583rzG3 | 2008-09-04 | 84000000 | Refunding of series A-1 & A-2 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Total ProceedsTotalProceeds | Amount UnspentAmountUnspent | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind | Amount DefeasedAmountDefeased |
|---|---|---|---|---|---|---|---|---|---|
| 65185071 | 89642 | 2100320 | 62995109 | 2010 | 0 | 0 | 1 | 1 | |
| 84000156 | 715050 | 2004 | 1 | 0 | 1 | 1 | 83285156 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 1 | 1 | 1 | 0.00900 | 0.01100 | 0.02000 | 1 |
| 0 | 0 | 1 | 1 | 1 | 0.00000 | 0.00800 | 0.00800 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Business Name Line1NameOfGICProvider/BusinessNameLine1 | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|---|
| na | ||||||
| 0 | 0 | 0 | 0 | na | 1 | 0 |
| na | ||||||
| 0 | 1 | 0 | 0 | na | 0 | 1 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|
| Richard Miller | ||
| babson college board member | richard miller, president of franklin w. olin college of engineering, inc. also serves on the babson college board of trustees. | 0 |
| Lawrence Milas | ||
| babson college board member | lawrence milas, trustee of franklin w. olin college of engineering, inc. also serves on the babson college board of overseers. | 0 |
Schedule M IRS990ScheduleM
Clothing And Household Goods ClothingAndHouseholdGoods
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Noncash Contribs Rptd F990 | 8656 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | fmv | MethodOfDeterminingRevenues |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 5 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 51448 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | avg. high/low on date | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Description | other property | Description |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 2614 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | receipts | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section A, line 2 | Two officers of the organization have a business relationship with Babson College, a member of the Boston Consortium for Higher Education, of which Olin College is also a member. |
| Form 990, Part VI, Section A, line 4 | The Bylaws were amended at the May 2010 Board of Trustees meeting. Significant changes included: - Adding to the Board's responsibilities: "Regularly monitor the quality of the academic program and the career paths of Olin graduates" - Allowing for electronic transmission of required notifications, including notification of meetings and distribution of minutes - Clarifying term limits for Trustees - Defining the President's Council - Defining Officers of the College - Defining Terms, Authority and Responsibilities of the Other Officers - Changing the minimum number of Board meetings each year from four to three - Allowing non-trustee committee members the right to vote at committee meetings - Requiring all Committees to keep minutes of committee meetings and to distribute these to all Trustees on a regular basis - Allowing Founding Trustees to attend and vote at Executive Sessions of committee meetings except the Executive Committee meetings - Moving the responsibility for assessing the quality and effectiveness of committee work from the Executive Committee to the Governance Committee - Expanding the definition of family members for the conflict of interest policy to include other household members - Changing who appoints the committee responsible for periodic review of the Bylaws - Making various other miscellaneous changes to the wording of the Bylaws, which did not change the meaning of the affected sections |
| Form 990, Part VI, Section A, line 7a | In recognition of the establishment of the College by the F. W. Olin Foundation, Inc. and its Directors, and also to fulfill certain requirements of the Endowment Grant Agreement with the Foundation, the College has a special class of Members ("Founding Members") who have special rights and responsibilities regarding their election to the Board, the election of the Chairman of the Board, and the approval of certain changes in these Bylaws and other matters. There are currently two remaining Founding Members. The Founding Members shall remain as such until their death or resignation. |
| Form 990, Part VI, Section A, line 7b | The Founding Members, acting by a majority of their number then in office, also have the following powers: (1) to approve, in advance, any proposed amendment to the Bylaws that would in any way alter or affect Article II and Article III, or the rights and privileges of the Founding Members, Founding Trustees and Alternate Founding Trustees, as otherwise provided in the Bylaws; (2) to approve, in advance, any proposed amendment to the College's Articles of Organization, (3) to approve, in advance, any proposed merger or consolidation of the College, (4) to approve, in advance, any proposed sale of all or substantially all of the assets of the College (except endowment and other investment assets at fair market value), (5) until May 15, 2017, or until the earlier death of the survivor of the two remaining Founding Members, whichever first occurs, to elect the Chair of the Board in accordance with the Endowment Grant Agreement, and (6) by unanimous vote, must approve any changes to the Founding Precepts. |
| Form 990, Part VI, Section B, line 11 | The Form 990 is reviewed in detail with the Audit Committee prior to filing, and is posted on a secure internal web portal for all trustees to review prior to filing. |
| Form 990, Part VI, Section B, line 12c | All officers, trustees and key employees are required to disclose annually direct or indirect financial or other material interest which he or she or a family member has or reasonably expects to have in any proposed or existing contract, transaction, or arrangement with the College prior to the start of any negotiations with respect to such matter. Such disclosures are reviewed by the Chairperson and Clerk of the Board. Final review of such situations is made by the full Board, the Executive Committee, or other Board Committee having decision-making authority over the substantive matter in question. |
| Form 990, Part VI, Section B, line 15 | On an annual basis, most recently in august 2010 the Executive Committee of the Board of Trustees reviews the President's salary. As part of their review, they consider comparable market data for the President's position, based on a other engineering and liberal arts schools as reported in a salary survey published by CUPA (College and University Personnel Association). They also use data from CUPA on Boston-area private colleges and universities, and at least three other sources of data. On an annual basis, most recently in august 2010, the salaries of the Key Employees are reviewed and compared with market data. Human Resources obtains market data from a list of 13 comparable higher education institutions on an annual basis and compares the current salaries to the market data. We will make salary adjustments if necessary to bring employees to at least 80-85% of comparable market data. In addition, salaries of the Key Employees are compared to the CUPA salary survey as described above. This comparison to the CUPA data is reviewed by the Chairman of the Board to determine whether any market adjustments are necessary. Key Employees are eligible to receive merit increases most years, based on performance, with the same criteria as other employees. |
| Form 990, Part VI, Section C, line 19 | The organizing documents, conflict of interest policy and financial statements are available to the public upon request. The audited financial statements and form 990 are available via the massachusetts attorney general's website. The audited financial statements are also posted on the organization's website. The form 990 is also available on www.guidestar.org. |
| Form 990, Part XI, Line 2c: | The organization has a committee that is responsible under its governing documents or through delegation by its governing body for (i) overseeing the audit of the financial statements, and (ii) the selection of an independent accountant that audited the statements. This process has not changed from the prior year. |
| Schedule K: Part I, Line 1A, Column F: Bond Issuance paid for a portion of all buildings on campus, including the following buildings in full: East Hall Dorm and Large Project Building. Part I, Line 1b, Column F: Series A-1 and A-2 were issued on 8/13/2003 Part II, line 4, Column A: All remaining proceeds were expended by October 2010. Part II, Line 5, Column A: Includes $1,385,148 for bond issuance premium and $715,171 for other issuance costs. Part II, Line 5, Column B: Includes $42,392 for letter of credit fees and $672,658 for other issuance costs. Part II, Line 8, Column B: The project funded with the refunded bonds (a-1 and a-2) was completed in 2004. Part IV, Line 5, Column A: A rebate calculation was performed and there was no positive arbitrage. |