HULT INTERNATIONAL BUSINESS SCHOOL INC: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
HULT INTERNATIONAL BUSINESS SCHOOL INC (EIN 04-3348440)
Tax period
2021-08-01 to 2022-07-31
Filed
2023-01-25
IRS object ID
202300259349301510
Schema version
2021v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-01-25T13:43:01-06:00ReturnTs
Tax Period End2022-07-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN043108635PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LEONARD MULHERIN & GREENE PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1625 GROVE STREETAddressLine1Txt
CityBRAINTREECityNm
State AbbreviationMAStateAbbreviationCd
ZIP02184ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-08-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN043348440EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HULT INTERNATIONAL BUSINESS SCHOOL INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlHULTBusinessNameControlTxt
Phone6177461990PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE EDUCATION STREETAddressLine1Txt
CityCAMBRIDGECityNm
State AbbreviationMAStateAbbreviationCd
ZIP02141ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMARCUS FRIBERGPersonNm
Person TitleCLERKPersonTitleTxt
Phone6177461990PhoneNum
Signature2022-12-07SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMARCUSPersonFirstNm
Person LastFRIBERGPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARK J PREZIOSIPreparerPersonNm
PTINP00968923PTIN
Phone7813564800PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2023-03-07 01:45:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerMARCUS FRIBERGPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE EDUCATION STREETAddressLine1Txt
CityCAMBRIDGECityNm
State AbbreviationMAStateAbbreviationCd
ZIP02141ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$179,137,520GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.HULT.EDUWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1996FormationYr
Legal Domicile StateMALegalDomicileStateCd
Activity Or MissionHULT 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 Body16VotingMembersGoverningBodyCnt
Voting Members Independent14VotingMembersIndependentCnt
Total Employee468TotalEmployeeCnt
Total Volunteers16TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$132,978,654PYProgramServiceRevenueAmt
CY Program Service Revenue$179,058,503CYProgramServiceRevenueAmt
PY Investment Income$94,255PYInvestmentIncomeAmt
CY Investment Income$79,017CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$133,072,909PYTotalRevenueAmt
CY Total Revenue$179,137,520CYTotalRevenueAmt
PY Grants And Similar Paid$36,443,217PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$43,623,621CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$18,846,425PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$23,629,353CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$73,579,535PYOtherExpensesAmt
CY Other Expenses$114,464,149CYOtherExpensesAmt
PY Total Expenses$128,869,177PYTotalExpensesAmt
CY Total Expenses$181,717,123CYTotalExpensesAmt
PY Revenues Less Expenses$4,203,732PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$2,579,603CYRevenuesLessExpensesAmt
Total Assets BOY$106,238,609TotalAssetsBOYAmt
Total Assets EOY$109,525,506TotalAssetsEOYAmt
Total Liabilities BOY$80,262,655TotalLiabilitiesBOYAmt
Total Liabilities EOY$86,129,155TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$25,975,954NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$23,396,351NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionHULT 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 Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$161,471,051ExpenseAmt
Grant$43,623,621GrantAmt
Revenue$179,058,503RevenueAmt
DescTHE 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 2022 ACADEMIC YEAR, THE SCHOOL HAD APPROXIMATELY 3,700 STUDENTS ENROLLED IN ALL PROGRAMS.Desc
Total Program Service Expenses$161,471,051TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign OfficeYes (1)ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To IndividualsYes (1)MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntYes (1)BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document37IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee468EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial AccountYes (1)ForeignFinancialAccountInd
Foreign CountryUKForeignCountryCd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members16GoverningBodyVotingMembersCnt
Independent Voting Member14IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMAStatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MARCUS FRIBERGBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6177461990PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE EDUCATION STREETAddressLine1Txt
CityCAMBRIDGECityNm
State AbbreviationMAStateAbbreviationCd
ZIP02141ZIPCd
FieldValueIRS element (for citing)
Info In Schedule O Part VIIYes (X)InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
DR STEPHEN J HODGES
PRES/DIR. THRU 6/29/222.00Yes (X)Yes (X)$0$0$389,000
MATT LILLEY
PRES/DIR. BEG. 6/30/222.00Yes (X)Yes (X)$0$0$0
EMILIE MCCARTHY
TREASURER40.00Yes (X)$0$0$274,000
MARCUS FRIBERG
CLERK/FINANCIAL MANAGER40.00Yes (X)$141,311$0$8,248
DR DAVID COLLIS
DIRECTOR2.00Yes (X)$0$0$0
JAMES SINTROS ESQ
DIRECTOR2.00Yes (X)$0$0$0
REBECCA QUINTAVALLE
DIRECTOR2.00Yes (X)$0$0$0
NICHOLAS BARBER
DIRECTOR2.00Yes (X)$0$0$0
CHRISTOPHER JEDREY
DIRECTOR2.00Yes (X)$0$0$0
PHILIP HULT
DIRECTOR2.00Yes (X)$0$0$0
ASA RANGNE BLENDOW
DIRECTOR2.00Yes (X)$0$0$0
DR BEATA SCHMID
DIRECTOR2.00Yes (X)$0$0$0
DR CRAIG BURNS
DIRECTOR2.00Yes (X)$0$0$0
CHRISTER SERENHOV
DIRECTOR2.00Yes (X)$0$0$0
DR CHRISTOPHER AHLBERG
DIRECTOR2.00Yes (X)$0$0$0
OMAR ROMERO HERNANDEZ
HULT SCHOOL PROFESSOR40.00$363,971$0$28,034Yes (X)
MANPREET DHILLON
EXECUTIVE VP OF PG & DEAN OF FACULTY40.00$327,011$0$6,700Yes (X)
LUIS ESCAMILLA ARROYO
FULL TIME FACULTY40.00$323,973$0$6,443Yes (X)
GONZALO CHAVEZ
HULT SCHOOL PROFESSOR40.00$297,266$0$28,087Yes (X)
AHMAD ASHKAR
COO GLOBAL CASE CHALLENGE40.00$281,091$0$19,780Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,734,623TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$760,292TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K44IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
KIRKLAND & ELLIS LLP
601 LEXINGTON AVENEW YORKNY10022LEGAL SERVICES$1,247,762
BRUNSWICK
245 PARK AVE 14TH FLOORNEW YORKNY10167LEGAL SERVICES$500,000
MINTZ LEVIN
ONE FINANCIAL CENTERBOSTONMA02111LEGAL SERVICES$198,123
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescPROGRAM REVENUEDesc
Business611600BusinessCd
Total Revenue Column$179,058,503TotalRevenueColumnAmt
Related Or Exempt Func Income$179,058,503RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$179,058,503TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$79,017TotalRevenueColumnAmt
Exclusion$79,017ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$179,137,520TotalRevenueColumnAmt
Related Or Exempt Func Income$179,058,503RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$79,017ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$4,160,977TotalAmt
Program Services$4,160,977ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$39,462,644TotalAmt
Program Services$39,462,644ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$162,394TotalAmt
Management And General$162,394ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$20,480,594TotalAmt
Program Services$19,403,255ProgramServicesAmt
Management And General$1,077,339ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$223,342TotalAmt
Program Services$218,989ProgramServicesAmt
Management And General$4,353ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$1,481,472TotalAmt
Program Services$1,354,654ProgramServicesAmt
Management And General$126,818ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$1,281,551TotalAmt
Program Services$1,195,794ProgramServicesAmt
Management And General$85,757ManagementAndGeneralAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$11,275,266TotalAmt
Management And General$11,275,266ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$4,145,924TotalAmt
Management And General$4,145,924ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$93,677TotalAmt
Management And General$93,677ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$3,289,544TotalAmt
Program Services$15,000ProgramServicesAmt
Management And General$3,274,544ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,000,432TotalAmt
Program Services$1,000,432ProgramServicesAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$8,095,000TotalAmt
Program Services$8,095,000ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$20,340,282TotalAmt
Program Services$20,340,282ProgramServicesAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$213,687TotalAmt
Program Services$213,687ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$660,372TotalAmt
Program Services$660,372ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
STUD. ENROLL. & MKTG.$33,288,991$33,288,991
PRODUCTION COSTS$26,113,163$26,113,163
COURSE EXPENSES$4,249,873$4,249,873
STUDENT EVENTS$633,571$633,571

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$1,064,367TotalAmt
Program Services$1,064,367ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$181,717,123TotalAmt
Program Services$161,471,051ProgramServicesAmt
Management And General$20,246,072ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$11,230,834BOYAmt
EOY$22,437,025EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$82,801,364BOYAmt
EOY$69,637,003EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$884,609BOYAmt
EOY$7,296,266EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$5,602,301BOYAmt
EOY$7,618,488EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$3,356,689LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$2,027,025LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$1,857,422BOYAmt
EOY$1,329,664EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$3,862,079BOYAmt
EOY$1,207,060EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$106,238,609BOYAmt
EOY$109,525,506EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$11,956,438BOYAmt
EOY$14,301,107EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$68,236,524BOYAmt
EOY$61,962,132EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$69,693BOYAmt
EOY$9,865,916EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$80,262,655BOYAmt
EOY$86,129,155EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$25,975,954BOYAmt
EOY$23,396,351EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$25,975,954BOYAmt
EOY$23,396,351EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$106,238,609BOYAmt
EOY$109,525,506EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$2,579,603ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$29,382OtherCostOrOtherBasisAmt
Depreciation$26,744DepreciationAmt
Book Value$2,638BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,327,307OtherCostOrOtherBasisAmt
Depreciation$2,000,281DepreciationAmt
Book Value$1,327,026BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$1,329,664TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescOTHER CURRENT LIABILITIESDesc
Amt$9,865,916Amt
FieldValueIRS element (for citing)
Total Liability$9,865,916TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$135,513,899TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$135,513,899RevenueSubtotalAmt
Other Revenues Not Included$43,623,621OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$43,623,621RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$179,137,520TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$138,093,502TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$138,093,502ExpensesSubtotalAmt
Other Expenses Not Included$43,623,621OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$43,623,621ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$181,717,123TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART XI, LINE 4B - OTHER ADJUSTMENTS:SCHOLARSHIPS AND FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 43,623,621.
PART XII, LINE 4B - OTHER ADJUSTMENTS:SCHOLARSHIPS AND FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 43,623,621.

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3THE 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 6THE 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

FieldValueIRS element (for citing)
Grant Records Maintained0GrantRecordsMaintainedInd

Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)

RegionRegionTxtOfficesOfficesCntEmployeeEmployeeCntType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
UNITED ARAB EMIRATES11PROGRAM SERVICERECRUITMENT, CURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT.$6,868,592
EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA,11PROGRAM SERVICERECRUITMENT, CURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT.$336,014
EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM11PROGRAM SERVICECURRICULUM IMPLEMENTATION, OPERATIONAL AND ADMINISTRATIVE SERVICES INCLUDING FINANCE, PAYROLL, AND FACILITIES MANAGEMENT.$18,908,558
FieldValueIRS element (for citing)
Subtotal Offices3SubtotalOfficesCnt
Subtotal Employees3SubtotalEmployeesCnt
Continuation Total Office0ContinuationTotalOfficeCnt
Continuation Total Employee0ContinuationTotalEmployeeCnt
Total Office3TotalOfficeCnt
Total Employee3TotalEmployeeCnt
Subtotal Spent$26,113,164SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$26,113,164TotalSpentAmt

Foreign Individuals Grants ForeignIndividualsGrantsGrp

FieldValueIRS element (for citing)
Type Of AssistanceSCHOLARSHIPS AND FINANCIAL AIDTypeOfAssistanceTxt
RegionVARIOUSRegionTxt
Recipient2665RecipientCnt
Manner Of Cash DisbursementBASED ON MERIT AND FINANCIAL NEEDMannerOfCashDisbursementTxt
Non Cash Assistance$39,462,644NonCashAssistanceAmt
Description Of Non Cash AsstSCHOLARSHIPS AND FINANCIAL AID PROVIDED BASED ON MERIT AND FINANCIAL NEED.DescriptionOfNonCashAsstTxt
Valuation Method UsedFAIR MARKET VALUEValuationMethodUsedDesc
FieldValueIRS element (for citing)
Transfer To Foreign Corp0TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp OwnershipYes (1)ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign Partnership0ForeignPartnershipInd
Boycott Countries0BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART III ACCOUNTING METHOD:FormAndLineReferenceDesc

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeSCHOLARSHIPS AND FINANCIAL AIDGrantTypeTxt
Recipient281RecipientCnt
Non Cash Assistance$4,160,977NonCashAssistanceAmt
Valuation Method UsedFAIR MARKET VALUEValuationMethodUsedDesc
Non Cash AssistanceSCHOLARSHIPS AND FINANCIAL AID PROVIDED BASED ON MERIT AND FINANCIAL NEED.NonCashAssistanceDesc

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE 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

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
OMAR ROMERO HERNANDEZ
HULT SCHOOL PROFESSOR$363,971$0$0$0$0$0$6,500$0$21,534$0$392,005$0$0$0
MANPREET DHILLON
EXECUTIVE VP OF PG & DEAN OF FACULTY$327,011$0$0$0$0$0$0$0$6,700$0$333,711$0$0$0
LUIS ESCAMILLA ARROYO
FULL TIME FACULTY$323,973$0$0$0$0$0$0$0$6,443$0$330,416$0$0$0
GONZALO CHAVEZ
HULT SCHOOL PROFESSOR$297,266$0$0$0$0$0$6,500$0$21,587$0$325,353$0$0$0
AHMAD ASHKAR
COO GLOBAL CASE CHALLENGE$281,091$0$0$0$0$0$3,559$0$16,221$0$300,871$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 3FormAndLineReferenceDesc
ExplanationTHE SCHOOL'S PRESIDENT (THROUGH JUNE 29, 2022) 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. STEPHEN HODGES 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 1.16 DOLLARS PER POUND. FOR CALENDAR YEAR 2021, MR. HODGES' COMPENSATION FROM HSS TOTALED $389,000 (USD), AND MS. MCCARTHY'S COMPENSATION FROM HSS TOTALED $274,000 (USD).ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionDescSharing 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
STEPHEN HODGES
MR. HODGES IS PRESIDENT AND A DIRECTOR OF HULT INTERN. BUS. SCHOOL, INC.MR. HODGES 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 (12 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6HULT 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 8BTHE 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 11BTHE 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 12CALL 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 15ATHE 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 19THE 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 VIIPLEASE SEE SCHEDULE J FOR FURTHER EXPLANATION.
FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURESCONTRACTUAL AGREEMENTS 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 $11,235,483 BY HSS DURING THE YEAR ENDED JULY 31, 2022. AT JULY 31, 2022, THE SCHOOL OWED HSS $177,550 WHICH IS INCLUDED IN "OTHER CURRENT LIABILITIES" ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. THE SCHOOL HAD A CONTRACTUAL ARRANGEMENT WITH EF INSTITUTE FOR CULTURAL EXCHANGE, INC. ("EF INSTITUTE") FOR CERTAIN LOCAL ADMINISTRATIVE SERVICES. EF INSTITUTE PROVIDED PAYROLL PROCESSING, HEALTH INSURANCE AND RETIREMENT PLAN ADMINISTRATION AND OTHER ADMINISTRATIVE SUPPORT SERVICES TO THE SCHOOL. THE SCHOOL AND EF INSTITUTE CONTRACTED THESE SERVICES UNDER AN AGREEMENT THAT EXPIRED SEPTEMBER 30, 2021. THE SCHOOL WAS CHARGED $970,312 BY EF INSTITUTE FOR THESE SERVICES DURING THE YEAR ENDED JULY 31, 2022. AT JULY 31, 2022, EF INSTITUTE OWED THE SCHOOL $646 WHICH IS INCLUDED IN "OTHER RECEIVABLES" ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. EFFECTIVE OCTOBER 1, 2021, THE SCHOOL ENTERED INTO 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 $1,497,420 BY EF SERVICES FOR THESE SERVICES DURING THE YEAR ENDED JULY 31, 2022. AT JULY 31, 2022 THE SCHOOL OWED EF SERVICES $231,114 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 $6,868,592 FOR THE YEAR ENDED JULY 31, 2022. NO AMOUNTS WERE PAYABLE TO OR RECEIVABLE FROM FZ-LLC AT JULY 31, 2022.
FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURESTHE 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 $18,908,558 FOR THE YEAR ENDED JULY 31, 2022. AT JULY 31, 2022, THE SCHOOL OWED HULT LTD. $687,329, 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, 2022 ARE AS FOLLOWS: HULT RECRUITING SERVICES, LTD. (UNITED KINGDOM) - $ 6,034,349 HULT INVESTMENTS FZ-LLC (UNITED ARAB EMIRATES) - $ 4,874,605 HULT RECRUITMENT SERVICES GMBH (SWITZERLAND) - $ 3,537,941 HULT INTERN. BUSINESS SCHOOL, LTD. (HONG KONG) - $ 2,159,577 THE AMOUNTS DUE TO/FROM THE ABOVE ENTITIES FOR STUDENT ENROLLMENT AND RECRUITMENT SERVICES AT JULY 31, 2022 ARE INCLUDED AS EITHER "OTHER CURRENT LIABILITIES OR "OTHER CURRENT RECEIVABLES" IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION.
FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURESOPERATING 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 SEPTEMBER 2024. RENT EXPENSE UNDER THE AGREEMENTS WITH EFEKTA TOTALED $15,143,070 FOR THE YEAR ENDED JULY 31, 2022. OPERATING LEASES - EF LANGUAGE SCHOOLS, INC. THE SCHOOL HAD AN AGREEMENT WITH EF LANGUAGE SCHOOLS, INC. TO LEASE SPACE IN MIAMI, FL FOR ENROLLMENT SERVICES THAT EXPIRED ON FEBRUARY 28, 2022. RENT EXPENSE PAID TO EF LANGUAGE SCHOOLS, INC. UNDER THIS AGREEMENT TOTALED $119,916 FOR THE YEAR ENDED JULY 31, 2022. 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, 2022.
FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURESLICENSE 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, 2022, THE SCHOOL INCURRED LICENSING EXPENSES TOTALING $ 8,095,000. AS OF JULY 31, 2022, THE SCHOOL OWED AG $ 8,573,000.
FORM 990, OTHER RELEVANT INFORMATION AND DISCLOSURESEXTRAORDINARY EXPENSES DURING THE YEAR ENDED JULY 31, 2022, DUE TO EXTRAORDINARY CIRCUMSTANCES, THE SCHOOL INCURRED LEGAL AND PROFESSIONAL FEES TOTALING APPROXIMATELY $ 3,800,000 FOR AN INDEPENDENT REVIEW RELATED TO THE HULT PRIZE. THE HULT PRIZE IS AN ANNUAL YEAR-LONG COMPETITION THAT THE SCHOOL SPONSORS, THAT CROWD-SOURCES IDEAS FROM POST-GRADUATE STUDENTS AFTER CHALLENGING THEM TO SOLVE A PRESSING SOCIAL ISSUE AROUND TOPICS SUCH AS FOOD SECURITY, WATER ACCESS, ENERGY AND EDUCATION.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1HULT EDUCATIONAL SERVICESINCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE EDUCATION STREETAddressLine1Txt
CityCAMBRIDGECityNm
State AbbreviationMAStateAbbreviationCd
ZIP02141ZIPCd
FieldValueIRS element (for citing)
EIN812441907EIN
Primary ActivitiesPROVIDED VARIOUS SUPPORT SERVICES TO HULT INTERNATIONAL BUSINESS SCHOOL, INCPrimaryActivitiesTxt
Legal Domicile StateMALegalDomicileStateCd
Exempt Code Section501 (C)(3)ExemptCodeSectionTxt
Public Charity Status509 (A)(3)PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1HULT INTERNATIONAL BUSINESS SCHOOL INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1HULT SUPPORT SERVICES LTDBusinessNameLine1Txt

Foreign Address ForeignAddress

FieldValueIRS element (for citing)
Address Line122 CHELSEA MANOR STREETAddressLine1Txt
CityLONDONCityNm
CountryUKCountryCd
FieldValueIRS element (for citing)
Primary ActivitiesPROVIDE VARIOUS SUPPORT SERVICES TO HULT INT. BUSINESS SCHOOL, INC.PrimaryActivitiesTxt
Legal Domicile Foreign CountryUKLegalDomicileForeignCountryCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1HULT INTERNATIONAL BUSINESS SCHOOL INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Share Of Total Income$17,620,283ShareOfTotalIncomeAmt
Share Of EOY Assets$11,961,813ShareOfEOYAssetsAmt
Ownership1.00000OwnershipPct
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (2 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
HULT SUPPORT SERVICES LTD
P$11,235,483AMOUNTS INVOICED
HULT SUPPORT SERVICES LTD
E$177,550AMOUNT DUE AT END OF YEAR

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