HULT INTERNATIONAL BUSINESS SCHOOL INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- HULT INTERNATIONAL BUSINESS SCHOOL INC (EIN 04-3348440)
- Tax period
- 2022-08-01 to 2023-07-31
- Filed
- 2024-03-14
- IRS object ID
- 202410749349300621
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule D
- Schedule E
- Schedule F
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-03-14T15:47:01-05:00 | ReturnTs |
| Tax Period End | 2023-07-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 043108635 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LEONARD MULHERIN & GREENE PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 625 GROVE STREET | AddressLine1Txt |
| City | BRAINTREE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02184 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-08-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043348440 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HULT INTERNATIONAL BUSINESS SCHOOL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HULT | BusinessNameControlTxt |
| Phone | 6177461990 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE EDUCATION STREET | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02141 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARCUS FRIBERG | PersonNm |
| Person Title | CLERK | PersonTitleTxt |
| Phone | 6177461990 | PhoneNum |
| Signature | 2024-03-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MARCUS | PersonFirstNm |
| Person Last | FRIBERG | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARK J PREZIOSI | PreparerPersonNm |
| PTIN | P00968923 | PTIN |
| Phone | 7813564800 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ABRAHAM GIORGIS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE EDUCATION STREET | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02141 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $191,323,514 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.HULT.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1996 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | HULT INTERNATIONAL BUSINESS SCHOOL IS A GLOBAL INSTITUTION THAT TRANSFORMS LIVES BY PROVIDING AN EXCEPTIONALLY VALUABLE AND ENDURING EDUCATION THAT BRINGS TOGETHER PEOPLE, CULTURES AND IDEAS FROM ALL AROUND THE WORLD. THE SCHOOL ENCOURAGES PERSONAL GROWTH, INTELLECTUAL INTEGRITY, GLOBAL SENSITIVITY, LOCAL ENGAGEMENT, AND CIVIC VALUES, SO THAT STUDENTS ARE ABLE TO FLOURISH IN THE GLOBAL ECONOMY AND ARE EMPOWERED TO CONTRIBUTE MEANINGFULLY TO THEIR BUSINESS AND COMMUNITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 511 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $179,058,503 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $189,228,813 | CYProgramServiceRevenueAmt |
| PY Investment Income | $79,017 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,094,701 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $179,137,520 | PYTotalRevenueAmt |
| CY Total Revenue | $191,323,514 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $43,623,621 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $46,282,895 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $23,629,353 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $28,407,439 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $114,464,149 | PYOtherExpensesAmt |
| CY Other Expenses | $125,481,162 | CYOtherExpensesAmt |
| PY Total Expenses | $181,717,123 | PYTotalExpensesAmt |
| CY Total Expenses | $200,171,496 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,579,603 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$8,847,982 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $109,525,506 | TotalAssetsBOYAmt |
| Total Assets EOY | $135,263,308 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $86,129,155 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $120,714,939 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $23,396,351 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $14,548,369 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | HULT INTERNATIONAL BUSINESS SCHOOL IS A GLOBAL INSTITUTION THAT TRANSFORMS LIVES BY PROVIDING AN EXCEPTIONALLY VALUABLE AND ENDURING EDUCATION THAT BRINGS TOGETHER PEOPLE, CULTURES, AND IDEAS FROM ALL AROUND THE WORLD. THE SCHOOL ENCOURAGES PERSONAL GROWTH, INTELLECTUAL INTEGRITY, GLOBAL SENSITIVITY, LOCAL ENGAGEMENT, AND CIVIC VALUES, SO THAT STUDENTS ARE ABLE TO FLOURISH IN THE GLOBAL ECONOMY AND ARE EMPOWERED TO CONTRIBUTE MEANINGFULLY TO THEIR BUSINESS AND COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $181,955,653 | ExpenseAmt |
| Grant | $46,282,895 | GrantAmt |
| Revenue | $189,228,813 | RevenueAmt |
| Desc | THE SCHOOL OFFERS ONE YEAR MASTERS PROGRAMS IN BUSINESS ADMINISTRATION, FINANCE, INTERNATIONAL BUSINESS AND INTERNATIONAL MARKETING, AS WELL AS A BACHELORS PROGRAM IN BUSINESS ADMINISTRATION, TO A BROADLY-BASED INTERNATIONAL STUDENT BODY. THE SCHOOL HAS CAMPUS LOCATIONS IN CAMBRIDGE, MASSACHUSETTS, AND SAN FRANCISCO, CALIFORNIA, AND ALSO SERVICES STUDENTS IN LONDON, UNITED KINGDOM, DUBAI, UNITED ARAB EMIRATES AND SHANGHAI, CHINA. DURING THE 2023 ACADEMIC YEAR, THE SCHOOL HAD APPROXIMATELY 3,900 STUDENTS ENROLLED IN ALL PROGRAMS. | Desc |
| Total Program Service Expenses | $181,955,653 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | Yes (1) | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 39 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 511 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | UK | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ABRAHAM GIORGIS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6177461990 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE EDUCATION STREET | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02141 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| MATT LILLEY | |||||||
| PRES/DIR. BEG. 6/30/22 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $181,469 | |
| EMILIE MCCARTHY | |||||||
| TREASURER | 40.00 | Yes (X) | $0 | $0 | $300,877 | ||
| MARCUS FRIBERG | |||||||
| CLERK/FINANCIAL MANAGER | 40.00 | Yes (X) | $161,228 | $0 | $11,153 | ||
| DR DAVID COLLIS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES SINTROS ESQ | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| REBECCA QUINTAVALLE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| NICHOLAS BARBER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER JEDREY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| PHILIP HULT | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ASA RANGNE BLENDOW | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DR CRAIG BURNS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTER SERENHOV | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DR CHRISTOPHER AHLBERG | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DEMING CHEN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SHANE STEFFENS | |||||||
| HULT PRESIDENT UG PROGRAMS | 40.00 | $434,925 | $0 | $27,782 | Yes (X) | ||
| MARTA MAURI ERENA | |||||||
| REGIONAL HEAD OF ENROLLMENT | 40.00 | $372,363 | $0 | $7,004 | Yes (X) | ||
| OMAR ROMERO HERNANDEZ | |||||||
| HULT SCHOOL PROFESSOR | 40.00 | $356,352 | $0 | $29,584 | Yes (X) | ||
| JESSICA SZUBART | |||||||
| EXECUTIVE VICE PRESIDENT OF UNDERGRAD | 40.00 | $336,245 | $0 | $27,779 | Yes (X) | ||
| MANPREET DHILLON | |||||||
| EXECUTIVE VICE PRESIDENT & PROVOST | 40.00 | $326,695 | $0 | $7,004 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,987,808 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $592,652 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 49 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| KIRKLAND & ELLIS LLP | |||||
| 300 N LASALLE DR | CHICAGO | IL | 60654 | LEGAL SERVICES | $1,885,899 |
| MINTZ LEVIN | |||||
| ONE FINANCIAL CENTER | BOSTON | MA | 02111 | LEGAL SERVICES | $245,331 |
| ALVARES & MARSHAL TAXAND LLC | |||||
| 600 MADISON AVENUE - 8TH FLOOR | NEW YORK | NY | 10022 | LEGAL SERVICES | $168,459 |
| JANE T RUSSELL | |||||
| 12 RENASISSANCE CIRCLE | SALEM | NH | 03079 | STUDENT CAREER ADVISOR | $106,330 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM REVENUE | Desc |
| Business | 611600 | BusinessCd |
| Total Revenue Column | $189,228,813 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $189,228,813 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $189,228,813 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,094,701 | TotalRevenueColumnAmt |
| Exclusion | $2,094,701 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $191,323,514 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $189,228,813 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,094,701 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,005,683 | TotalAmt |
| Program Services | $4,005,683 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,277,212 | TotalAmt |
| Program Services | $42,277,212 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,342 | TotalAmt |
| Management And General | $187,342 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,753,540 | TotalAmt |
| Program Services | $22,821,906 | ProgramServicesAmt |
| Management And General | $1,931,634 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $287,086 | TotalAmt |
| Program Services | $274,617 | ProgramServicesAmt |
| Management And General | $12,469 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,583,122 | TotalAmt |
| Program Services | $1,465,203 | ProgramServicesAmt |
| Management And General | $117,919 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,596,349 | TotalAmt |
| Program Services | $1,485,943 | ProgramServicesAmt |
| Management And General | $110,406 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,824,870 | TotalAmt |
| Management And General | $11,824,870 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $452,388 | TotalAmt |
| Management And General | $452,388 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,719 | TotalAmt |
| Management And General | $113,719 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,480,802 | TotalAmt |
| Program Services | $15,706 | ProgramServicesAmt |
| Management And General | $3,465,096 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,218,331 | TotalAmt |
| Program Services | $1,218,331 | ProgramServicesAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,739,000 | TotalAmt |
| Program Services | $8,739,000 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,056,618 | TotalAmt |
| Program Services | $22,056,618 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $268,574 | TotalAmt |
| Program Services | $268,574 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $631,935 | TotalAmt |
| Program Services | $631,935 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| STUD. ENROLL. & MKTG. | $43,434,363 | $43,434,363 |
| PRODUCTION COSTS | $26,254,802 | $26,254,802 |
| COURSE EXPENSES | $5,321,690 | $5,321,690 |
| STUDENT EVENTS | $663,112 | $663,112 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,020,958 | TotalAmt |
| Program Services | $1,020,958 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $200,171,496 | TotalAmt |
| Program Services | $181,955,653 | ProgramServicesAmt |
| Management And General | $18,215,843 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,437,025 | BOYAmt |
| EOY | $17,881,320 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,637,003 | BOYAmt |
| EOY | $62,858,648 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,296,266 | BOYAmt |
| EOY | $7,709,353 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,618,488 | BOYAmt |
| EOY | $10,358,267 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,302,972 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,217,822 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,329,664 | BOYAmt |
| EOY | $1,085,150 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,207,060 | BOYAmt |
| EOY | $35,370,570 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,525,506 | BOYAmt |
| EOY | $135,263,308 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,301,107 | BOYAmt |
| EOY | $7,459,445 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,962,132 | BOYAmt |
| EOY | $62,481,042 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,865,916 | BOYAmt |
| EOY | $50,774,452 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,129,155 | BOYAmt |
| EOY | $120,714,939 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,396,351 | BOYAmt |
| EOY | $14,548,369 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,396,351 | BOYAmt |
| EOY | $14,548,369 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,525,506 | BOYAmt |
| EOY | $135,263,308 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$8,847,982 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $67,148 | OtherCostOrOtherBasisAmt |
| Depreciation | $24,705 | DepreciationAmt |
| Book Value | $42,443 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,235,824 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,193,117 | DepreciationAmt |
| Book Value | $1,042,707 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,085,150 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| RESTRICTED DEPOSITS | $600,000 |
| OTHER RECEIVABLES | $1,290,714 |
| RIGHT-OF-USE ASSET - OPERATING ,NET ACCUMULATED AMORTIZATION | $33,479,856 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $35,370,570 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| OTHER CURRENT LIABILITIES | $16,760,987 |
| RIGHT-OF-USE LIABILITY - OPERATING | $34,013,465 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $50,774,452 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $145,040,619 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $145,040,619 | RevenueSubtotalAmt |
| Other Revenues Not Included | $46,282,895 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $46,282,895 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $191,323,514 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $153,888,601 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $153,888,601 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $46,282,895 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $46,282,895 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $200,171,496 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 46,282,895. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 46,282,895. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE HULT INTERNATIONAL BUSINESS SCHOOL, INC. INCLUDES A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICIES IN ALL OF ITS PROMOTIONAL MATERIALS AND ADVERTISING. |
| SCHEDULE E, PART I, LINE 6 | THE SCHOOL IS APPROVED AS A TITLE IV INSTITUTION BY THE U.S. DEPARTMENT OF EDUCATION AND AS SUCH, PROCESSES FINANCIAL AID APPLICATIONS FOR U.S. CITIZENS AND PERMANENT RESIDENTS ATTENDING THE SCHOOL. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| UNITED ARAB EMIRATES | 1 | 1 | PROGRAM SERVICE | RECRUITMENT, CURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT. | $5,607,839 |
| EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, | 1 | 1 | PROGRAM SERVICE | RECRUITMENT, CURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT. | $94,741 |
| EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM | 1 | 1 | PROGRAM SERVICE | CURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT. | $20,602,899 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 3 | SubtotalOfficesCnt |
| Subtotal Employees | 3 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 3 | TotalOfficeCnt |
| Total Employee | 3 | TotalEmployeeCnt |
| Subtotal Spent | $26,305,479 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $26,305,479 | TotalSpentAmt |
Foreign Individuals Grants ForeignIndividualsGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Assistance | SCHOLARSHIPS AND FINANCIAL AID | TypeOfAssistanceTxt |
| Region | VARIOUS | RegionTxt |
| Recipient | 2818 | RecipientCnt |
| Manner Of Cash Disbursement | BASED ON MERIT AND FINANCIAL NEED | MannerOfCashDisbursementTxt |
| Non Cash Assistance | $42,277,212 | NonCashAssistanceAmt |
| Description Of Non Cash Asst | SCHOLARSHIPS AND FINANCIAL AID PROVIDED BASED ON MERIT AND FINANCIAL NEED. | DescriptionOfNonCashAsstTxt |
| Valuation Method Used | FAIR MARKET VALUE | ValuationMethodUsedDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART III ACCOUNTING METHOD: | FormAndLineReferenceDesc |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS AND FINANCIAL AID | GrantTypeTxt |
| Recipient | 267 | RecipientCnt |
| Non Cash Assistance | $4,005,683 | NonCashAssistanceAmt |
| Valuation Method Used | FAIR MARKET VALUE | ValuationMethodUsedDesc |
| Non Cash Assistance | SCHOLARSHIPS AND FINANCIAL AID PROVIDED BASED ON MERIT AND FINANCIAL NEED. | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE SCHOOL PROVIDES SCHOLARSHIPS BASED ON MERIT AND FINANCIAL AID BASED ON FINANCIAL NEED. ANNUALLY, ALL VICE PRESIDENTS OF FINANCE WORK WITH THE REGIONAL ENROLLMENT DIRECTORS TO DETERMINE THE BUDGETS AVAILABLE FOR SCHOLARSHIPS AND FINANCIAL AID. THOSE BUDGETS ARE APPROVED BY THE PRESIDENT AND CFO. ALL STUDENT APPLICATIONS ARE THEN REVIEWED AND AWARDS ARE PROVIDED TO THOSE STUDENTS WHO MEET CERTAIN CRITERIA. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARCUS FRIBERG | ||||||||||||||
| CLERK/FINANCIAL MANAGER | $161,228 | $0 | $0 | $0 | $0 | $0 | $4,065 | $0 | $7,088 | $0 | $172,381 | $0 | $0 | $0 |
| SHANE STEFFENS | ||||||||||||||
| HULT PRESIDENT UG PROGRAMS | $434,925 | $0 | $0 | $0 | $0 | $0 | $4,813 | $0 | $22,969 | $0 | $462,707 | $0 | $0 | $0 |
| MARTA MAURI ERENA | ||||||||||||||
| REGIONAL HEAD OF ENROLLMENT | $372,363 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7,004 | $0 | $379,367 | $0 | $0 | $0 |
| OMAR ROMERO HERNANDEZ | ||||||||||||||
| HULT SCHOOL PROFESSOR | $356,352 | $0 | $0 | $0 | $0 | $0 | $6,750 | $0 | $22,834 | $0 | $385,936 | $0 | $0 | $0 |
| JESSICA SZUBART | ||||||||||||||
| EXECUTIVE VICE PRESIDENT OF UNDERGRA | $336,245 | $0 | $0 | $0 | $0 | $0 | $5,125 | $0 | $22,654 | $0 | $364,024 | $0 | $0 | $0 |
| MANPREET DHILLON | ||||||||||||||
| EXECUTIVE VICE PRESIDENT & PROVOST | $326,695 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7,004 | $0 | $333,699 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE SCHOOL'S PRESIDENT IS COMPENSATED BY HULT SUPPORT SERVICES, LTD., WHICH IS A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. THE SCHOOL'S COMPENSATON AND EVALUATION COMMITTEE REVIEWS THE SCHOOL'S PRESIDENT'S COMPENSATION ANNUALLY. THE COMMITTEE BASES ITS EVALUATION AND DETERMINES COMPENSATION LEVELS ON THIRD PARTY SALARY SURVEYS AND COMPARABILITY DATA. THE COMPENSATION COMMITTEE PROPOSES THE PRESIDENT'S COMPENSATION LEVEL TO THE FULL BOARD FOR APPROVAL. A WRITTEN EMPLOYMENT AGREEMENT SETS FORTH THE TERMS AND CONDITIONS OF THE PRESIDENT'S EMPLOYMENT WITH THE SCHOOL AND ITS AFFILIATE. FOR KEY EMPLOYEES AND OFFICERS OF THE SCHOOL, COMPENSATION IS BASED ON A FIXED SUM AGREED UPON AT THE TIME OF EMPLOYMENT. THIS SUM REFLECTS AN EMPLOYEE'S LEVEL OF EXPERIENCE AND EXPERTISE WHEN (S)HE JOINS THE ORGANIZATION. SALARIES WITHIN THE ORGANIZATION ARE STRICTLY CONFIDENTIAL AND NEGOTIATED INDIVIDUALLY. MATT LILLEY AND EMILIE MCCARTHY WERE PAID IN BRITISH POUNDS BY HULT SUPPORT SERVICES, LTD., A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. THEIR SALARIES WERE CONVERTED TO AMERICAN DOLLARS FROM BRITISH POUNDS AT AN EXCHANGE RATE OF 1.21 DOLLARS PER POUND. FOR CALENDAR YEAR 2022, MR. LILLEYS' COMPENSATION FROM HSS TOTALED $181,469 (USD), AND MS. MCCARTHY'S COMPENSATION FROM HSS TOTALED $300,877 (USD). | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|
| REBECCA QUINTAVALLE | ||
| MS. QUINTAVALLE IS A BOARD MEMBER (DIR.) OF HULT INT'L BUS. SCHOOL, INC. | MS. QUINTAVALLE IS A MEMBER OF THE BOARD OF DIRECTORS OF HULT SUPPORT SERVICES, LTD, A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. | 0 |
| CHRISTOPHER AHLBERG | ||
| MR. AHLBERG IS A BOARD MEMBER (DIRECTOR) OF HULT INT'L BUS. SCHOOL, INC. | MR. AHLBERG IS A MEMBER OF THE BOARD OF DIRECTORS OF HULT SUPPORT SERVICES, LTD, A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. | 0 |
| MATT LILLEY | ||
| MR. LILLEY IS PRESIDENT AND A DIRECTOR OF HULT INTERN. BUS. SCHOOL, INC. | MR. LILLEY IS A BOARD MEMBER (DIRECTOR) OF HULT SUPPORT SERVICES, LTD., A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | HULT INTERNATIONAL BUSINESS SCHOOL, INC. HAS ONE MEMBER, HULT HOLDINGS, INC. (A MASSACHUSETTS CORPORATION). HULT HOLDINGS, INC. DOES NOT HAVE THE RIGHT TO APPOINT BOARD MEMBERS. THE BOARD OF DIRECTORS HAS THE RESPONSIBILITY OF ELECTING NEW DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION'S PRESIDENT, TREASURER AND OTHER MEMBERS OF THE BOARD OF DIRECTORS REVIEW A DRAFT OF THE FORM 990, WHICH IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANTS. ANY RESULTANT COMMENTS AND CHANGES ARE DISCUSSED WITH THE INDEPENDENT ACCOUNTANTS AND IF APPROPRIATE, INCORPORATED INTO THE FINAL VERSION OF FORM 990 PRIOR TO ITS FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL DIRECTORS, OFFICERS AND EMPLOYEES ARE PROVIDED WITH COPIES OF THE CONFLICT OF INTEREST POLICY. DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AT BOARD MEETINGS. EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST DURING THEIR ANNUAL REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE SCHOOL'S PRESIDENT IS COMPENSATED BY HULT SUPPORT SERVICES, LTD., WHICH IS A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. THE SCHOOL'S COMPENSATON AND EVALUATION COMMITTEE REVIEWS THE SCHOOL'S PRESIDENT'S COMPENSATION ANNUALLY. THE COMMITTEE BASES ITS EVALUATION AND DETERMINES COMPENSATION LEVELS ON THIRD PARTY SALARY SURVEYS AND COMPARABILITY DATA. THE COMPENSATION COMMITTEE PROPOSES THE PRESIDENT'S COMPENSATION LEVEL TO THE FULL BOARD FOR APPROVAL. A WRITTEN EMPLOYMENT AGREEMENT SETS FORTH THE TERMS AND CONDITIONS OF THE PRESIDENT'S EMPLOYMENT WITH THE SCHOOL AND ITS AFFILIATE. FOR KEY EMPLOYEES AND OFFICERS OF THE SCHOOL, COMPENSATION IS BASED ON A FIXED SUM AGREED UPON AT THE TIME OF EMPLOYMENT. THIS SUM REFLECTS AN EMPLOYEE'S LEVEL OF EXPERIENCE AND EXPERTISE WHEN (S)HE JOINS THE SCHOOL. SALARIES WITHIN THE SCHOOL ARE STRICTLY CONFIDENTIAL AND NEGOTIATED INDIVIDUALLY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE SCHOOL'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC VIA THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE AND UPON REQUEST. THE SCHOOL'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART VII | PLEASE SEE SCHEDULE J FOR FURTHER EXPLANATION. |
| FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURES | CONTRACTUAL AGREEMENTS IN CONNECTION WITH THE RECRUITMENT OF STUDENTS AND ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, IN PRIOR YEARS, THE SCHOOL ENTERED INTO VARIOUS AGREEMENTS WITH SIGNIFICANT PARTIES. EXPENSES INCURRED UNDER THE AGREEMENTS HAVE BEEN PRICED USING A FAIR MARKET VALUE ANALYSIS AS DETERMINED BY AN INDEPENDENT THIRD PARTY. ACTIVITIES WITH SIGNIFICANT PARTIES ARE DESCRIBED BELOW: THE SCHOOL HAS A MANAGEMENT SERVICES AGREEMENT WITH HULT SUPPORT SERVICES, LTD. ("HSS"), A FOR-PROFIT ENTITY OWNED BY THE SCHOOL. HSS PROVIDES ADMINISTRATIVE (LEGAL SUPPORT, CASH FLOW MANAGEMENT SUPPORT AND RISK MANAGEMENT SERVICES) AND IT SUPPORT SERVICES TO THE SCHOOL. THE SCHOOL WAS CHARGED $15,193,064 BY HSS DURING THE YEAR ENDED JULY 31, 2023. AT JULY 31, 2023, THE SCHOOL OWED HSS $515,239 WHICH IS INCLUDED IN "OTHER CURRENT LIABILITIES" ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. THE SCHOOL HAS A CONTRACTUAL AGREEMENT WITH EF SERVICES, INC. ("EF SERVICES") FOR CERTAIN LOCAL ADMINISTRATIVE SERVICES. EF SERVICES PROVIDES PAYROLL PROCESSING, HEALTH INSURANCE AND RETIREMENT PLAN ADMINISTRATION AND OTHER ADMINISTRATIVE SUPPORT SERVICES TO THE SCHOOL. THE SCHOOL AND EF SERVICES CONTRACTED THESE SERVICES UNDER AN AGREEMENT THAT IS SUBJECT TO RENEWAL ON OCTOBER 1 OF EACH YEAR. THE SCHOOL WAS CHARGED $2,747,865 BY EF SERVICES FOR THESE SERVICES DURING THE YEAR ENDED JULY 31, 2023. AT JULY 31, 2023 THE SCHOOL OWED EF SERVICES $235,068 WHICH IS INCLUDED IN "OTHER CURRENT LIABILITIES" ON THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. THE SCHOOL HAS A CONTRACTUAL AGREEMENT WITH HULT INVESTMENTS FZ-LLC ("FZ-LLC") AN LLC ORGANIZED IN THE UNITED ARAB EMIRATES, WHEREBY FZ-LLC DELIVERS ALL LOCAL OPERATIONAL AND ADMINISTRATIVE SERVICES RELATING TO THE SCHOOL'S ACADEMIC PROGRAMS IN DUBAI, INCLUDING GENERAL AND ADMINISTRATIVE SERVICES (FINANCE, PAYROLL, FACILITIES MANAGEMENT, ETC.), RECRUITMENT, AND CURRICULUM IMPLEMENTATION. SERVICE COSTS INCURRED BY THE SCHOOL WITH FZ-LLC TOTALED $5,607,839 FOR THE YEAR ENDED JULY 31, 2023. AT JULY 31, 2023 THE SCHOOL OWED FZ-LLC $769,860 WHICH IS INCLUDED IN "OTHER CURRENT LIABILITIES" ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. |
| FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURES | THE SCHOOL AND HULT INTERNATIONAL BUSINESS SCHOOL, LTD. ("HULT LTD."), A CHARITABLE ORGANIZATION IN THE UNITED KINGDOM ("UK"), HAVE A CONTRACTUAL AGREEMENT, WHEREBY HULT LTD. DELIVERS ALL LOCAL OPERATIONAL AND ADMINISTRATIVE SERVICES RELATING TO THE SCHOOL'S ACADEMIC PROGRAMS IN THE UK. THESE SERVICES INCLUDE GENERAL AND ADMINISTRATIVE SERVICES (FINANCE, PAYROLL, FACILITIES MANAGEMENT, ETC.), AND CURRICULUM IMPLEMENTATION. SERVICE COSTS INCURRED BY THE SCHOOL WITH HULT LTD. TOTALED $20,602,899 FOR THE YEAR ENDED JULY 31, 2023. AT JULY 31, 2023, THE SCHOOL OWED HULT LTD. $930,662, WHICH IS INCLUDED IN "OTHER CURRENT LIABILITIES" ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. OTHER CONTRACTUAL AGREEMENTS THE SCHOOL HAS CONTRACTUAL AGREEMENTS WITH VARIOUS SIGNIFICANT PARTIES TO PROVIDE ENROLLMENT AND RECRUITMENT SERVICES TO THE SCHOOL. AMOUNTS BILLED FOR STUDENT ENROLLMENT AND RECRUITMENT SERVICES FOR THE YEAR ENDED JULY 31, 2023 ARE AS FOLLOWS: HULT RECRUITING SERVICES, LTD. (UNITED KINGDOM)- $ 5,975,499 HULT INVESTMENTS FZ-LLC (UNITED ARAB EMIRATES) - $ 6,442,041 HULT RECRUITMENT SERVICES GMBH (SWITZERLAND) - $ 6,472,943 HULT INTERN. BUSINESS SCHOOL, LTD. (HONG KONG) - $ 2,397,038 THE AMOUNTS DUE TO/FROM THE ABOVE ENTITIES FOR STUDENT ENROLLMENT AND RECRUITMENT SERVICES AT JULY 31, 2023 ARE INCLUDED AS EITHER "OTHER CURRENT LIABILITIES OR "OTHER CURRENT RECEIVABLES" IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. |
| FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURES | OPERATING LEASES - EFEKTA THE SCHOOL HAS SEVERAL LEASE (OR SUBLEASE) AGREEMENTS WITH EFEKTA FOR CLASSROOM AND ADMINISTRATIVE SPACE, DORMITORIES AND CAMPUS FACILITIES THAT EXPIRE AT VARIOUS TIMES THROUGH JULY 2028. RENT EXPENSE UNDER THE AGREEMENTS WITH EFEKTA TOTALED $18,976,579 FOR THE YEAR ENDED JULY 31, 2023. OPERATING SUBLEASE - EF INTERNATIONAL LANGUAGE SCHOOLS, INC. EFFECTIVE AUGUST 1, 2021, THE SCHOOL BEGAN SUBLEASING A PORTION OF THE CLASSROOM AND ADMINISTRATIVE SPACE AT ITS SAN FRANCISCO LOCATION TO EF INTERNATIONAL LANGUAGE SCHOOLS, INC. AT AN ANNUAL BASE RENT OF $560,000. RENT IS PAYABLE TO THE SCHOOL IN MONTHLY INSTALLMENTS OF $46,667 AND TOTALED $ 560,000 FOR THE YEAR ENDED JULY 31, 2023. |
| FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURES | LICENSE FEES THE SCHOOL HAS A LICENSING AGREEMENT WITH HULT INTERNATIONAL BUSINESS SCHOOL AG ("AG"), A SWISS CORPORATION, THAT ALLOWS THE SCHOOL TO USE CERTAIN TRADEMARKS, LOGOS, DOMAIN NAMES AND OTHER INTANGIBLE ASSETS OWNED BY AG. DURING THE YEAR ENDED JULY 31, 2023, THE SCHOOL INCURRED LICENSING EXPENSES TOTALING $ 8,739,000. AS OF JULY 31, 2023, THE SCHOOL OWED AG $ 8,739,000. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HULT EDUCATIONAL SERVICESINC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE EDUCATION STREET | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02141 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 812441907 | EIN |
| Primary Activities | PROVIDED VARIOUS SUPPORT SERVICES TO HULT INTERNATIONAL BUSINESS SCHOOL, INC | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501 (C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 509 (A)(3) | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HULT INTERNATIONAL BUSINESS SCHOOL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HULT SUPPORT SERVICES LTD | BusinessNameLine1Txt |
Foreign Address ForeignAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 22 CHELSEA MANOR STREET | AddressLine1Txt |
| City | LONDON | CityNm |
| Country | UK | CountryCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | PROVIDE VARIOUS SUPPORT SERVICES TO HULT INT. BUSINESS SCHOOL, INC. | PrimaryActivitiesTxt |
| Legal Domicile Foreign Country | UK | LegalDomicileForeignCountryCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HULT INTERNATIONAL BUSINESS SCHOOL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Share Of Total Income | $15,976,049 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $3,290,380 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| HULT SUPPORT SERVICES LTD | ||
| P | $15,193,064 | AMOUNTS INVOICED |
| HULT SUPPORT SERVICES LTD | ||
| E | $515,239 | AMOUNT DUE AT END OF YEAR |
Comments