2023-04-13T12:29:20-05:00 2022-06-30 390859910 BAKER TILLY US LLP 1 HIGHWOOD DRIVE TEWKSBURY MA 01876 990 2021-07-01 474425987 COLLEGE FOR SOCIAL INNOVATION INC COLL 6179100071 89 SOUTH STREET 407 BOSTON MA 02111 ERIC SCHWARZ CHIEF EXECUTIVE OFFICER 6179100071 2023-04-07 1 ERIC SCHWARZ 999009999 MATTHEW KALIL CPA MBA P01517069 9785575300 2023-04-07 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ERIC SCHWARZ 89 SOUTH STREET 407 BOSTON MA 02111 2463151 0 X COLLEGEFORSOCIALINNOVATION.ORG X 2015 MA TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 8 7 50 276 0 0 971452 1130777 1049014 1330965 754 1409 0 0 2021220 2463151 0 0 0 0 1194250 1480163 0 0 91520 881443 995443 2075693 2475606 -54473 -12455 1067998 783072 351148 78677 716850 704395 X TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 0 0 2021975 1330965 COLLEGE FOR SOCIAL INNOVATION (CFSI) IS A NEW COLLEGE PARTNERSHIP MODEL WITH A MISSION OF EDUCATING AND INSPIRING THE NEXT GENERATION OF PROBLEM SOLVERS. OUR MODEL PROVIDES OPPORTUNITIES FOR DIVERSE COHORTS OF COLLEGE STUDENTS TO EARN A FULL SEMESTER OF CREDIT FOR WELL-SUPPORTED FELLOWSHIPS IN NON-PROFITS, THE PUBLIC SECTOR, AND SOCIAL MISSION BUSINESSES. STUDENTS LEARN THROUGH ACTIVE MENTORING, JOB-RELATED ASSIGNMENTS, AND RELATED SEMINARS AND REFLECTION ACTIVITIES, ALL OF WHICH WILL HELP THEM BUILD CAREER-BASED COMPETENCIES, SOCIAL AND EMOTIONAL SKILLS, AND NETWORKS. STUDENTS SERVE FOUR DAYS A WEEK WITH HOST ORGANIZATIONS, WORKING UNDER A DEDICATED MENTOR AND ALSO PARTICIPATE IN A FOUNDATION COURSE OFFERED ONE EVENING, "THE SOCIAL INNOVATOR'S TOOL BOX, AND ENGAGE IN A SKILL-BUILDING AND REFLECTIVE COURSE ON FRIDAYS CALLED "BECOMING A PROBLEM SOLVER." PARTICIPATING STUDENTS EARN A FULL 16 CREDITS (OR EQUIVALENT) FROM THEIR HOME COLLEGE WITH NO ADDITIONAL TUITION OR FEES. HOST ORGANIZATIONS ARE ABLE TO INVEST IN FUTURE TALENT THROUGH THE OPPORTUNITY TO MENTOR AND DEVELOP A STUDENT FELLOW. OUR LONG-TERM GOAL IS TO CREATE A BIGGER, BETTER PREPARED, AND MORE DIVERSE TALENT PIPELINE FOR THE SOCIAL SECTOR.AFTER AVERAGING 81 STUDENTS PER YEAR IN THE LAST THREE YEARS OF THE PROGRAM, WE ENROLLED 112 STUDENTS IN FY22 - 52 STUDENTS IN THE FALL SEMESTER AND 60 IN THE SPRING. THE 60 STUDENTS ENROLLED IN THE SPRING SEMESTER WAS THE LARGEST COHORT WE HAVE ENROLLED SINCE OUR INCEPTION AND OVER 60% OF THEM IDENTIFIED AS FIRST GENERATION, LOW-INCOME, AND/OR A STUDENT OF COLOR. TO DATE, WE HAVE PARTNERED WITH 164 UNIQUE HOST ORGANIZATIONS (NON-PROFITS, GOVERNMENT AGENCIES, AND SOCIAL MISSION BUSINESSES) AND 88% OF ORGANIZATIONS REPORTED THEY WOULD AT LEAST INTERVIEW THEIR FELLOW EMPLOYEES FOR A JOB OPENING. FURTHERMORE, 99% OF STUDENTS WHO COMPLETED THE PROGRAM REPORTED BECOMING A MORE VALUABLE EMPLOYEE, 98% OF STUDENTS GAINED MORE SKILLS SUCH AS PUBLIC SPEAKING AND HUMAN CENTERED DESIGN, AND 91% OF STUDENTS REPORTED THEY EXPANDED THEIR NETWORK, AND 96% OF ALUMNI WHO COMPLETED THE PROGRAM AND GRADUATED FROM COLLEGE ARE REPORTING THEY ARE EITHER EMPLOYED FULL-TIME, EMPLOYED PART-TIME, COMPLETING A GRADUATE DEGREE, OR ARE PARTICIPATING IN A NATIONAL SERVICE PROGRAM SIX-MONTHS AFTER COMPLETING THEIR UNDERGRADUATE DEGREE. 60% OF ALUMNI OF THE PROGRAM ARE WORKING IN THE SOCIAL SECTOR. STARTING IN THE SPRING 2021 SEMESTER, WE ALSO PILOTED A PROGRAM WITH THE UNIVERSITY OF NEW HAMPSHIRE TO ACCOMMODATE HOST ORGANIZATIONS IN THE DURHAM, NH AREA. EACH STUDENT WHO ENROLLED IN THE PROGRAM REPORTED SIMILAR, IF NOT STRONGER, RESULTS TO OUR FLAGSHIP PROGRAM BEING RUN IN BOSTON. WE ARE LEVERAGING THE LESSONS FROM THIS PILOT TO LAUNCH THE SEMESTER FOR IMPACT PROGRAM IN 2023-24, GIVING STUDENTS A CHANCE TO EARN A SEMESTER OF CREDIT THROUGH AN IMMERSIVE INTERNSHIP IN THEIR HOME COLLEGE COMMUNITY AND RELATED CLASSES. WE ALSO CONTINUE TO GROW A SUSTAINABLE ORGANIZATION BY RAISING IN FY22 MORE THAN $1,200,000 IN PHILANTHROPIC GIVING AND $1,300,000 IN EARNED REVENUE (FEES FROM COLLEGE AND HOST ORGANIZATIONS AND FROM STUDENTS TO COVER HOUSING COSTS), MOVING US A STEP TOWARD OUR GOAL OF COVERING AT LEAST 80 PERCENT OF OUR OPERATING COSTS THROUGH EARNED REVENUE. WE COVERED 57% OF OUR TOTAL COSTS WITH EARNED REVENUE IN FY22 COMPARED TO 41% PRE-PANDEMIC IN FY19. 2021975 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 4 0 1 50 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 MA X THE ORGANIZATION 6179100071 89 SOUTH STREET 407 BOSTON MA 02111 TULAINE MONTGOMERY DIRECTOR 5.00 X 0 0 0 LISA BUTLER DIRECTOR 5.00 X 0 0 0 JAMES ATWOOD DIRECTOR 5.00 X 0 0 0 ADRIA GOODSON DIRECTOR 5.00 X 0 0 0 MARQUIS TAYLOR DIRECTOR 5.00 X 0 0 0 DENNIS HANNO DIRECTOR 5.00 X 0 0 0 TOM CRAIG TREASURER 5.00 X X 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 40.00 X X 187407 0 23294 EDITH BUHS CHIEF PROGRAM OFFICER 40.00 X 116979 0 23947 304386 0 47241 2 0 1 0 0 210578 920199 90478 1130777 PROGRAM SERVICE FEES 611310 1330965 1330965 1330965 1409 1409 2463151 1330965 0 1409 377126 333653 10869 32604 898378 763622 97601 37155 104064 87399 12048 4617 100595 86384 8788 5423 35000 35000 64846 57429 4581 2836 8904 7568 1336 35970 28672 4741 2557 49326 40129 5681 3516 5852 2933 2652 267 9765 4895 4424 446 3674 2980 429 265 25781 20985 2962 1834 STUDENT HOUSING 512998 341999 170999 PROGRAM STUDENT COSTS 222989 222989 BAD DEBT 20338 20338 2475606 2021975 362111 91520 71390 104517 419511 314471 464895 275355 105203 79269 62512 53052 6999 9460 1067998 783072 86441 54185 54129 24492 210578 0 351148 78677 X 488739 561284 228111 143111 716850 704395 1067998 783072 -12455 0 X X 0 1 X 1 0 X 1746653 536016 1178644 971452 1130777 5563542 772618 782198 1126260 1049014 1330965 5061055 2519271 1318214 2304904 2020466 2461742 10624597 918926 148849 655401 209525 471654 2404355 0 918926 148849 655401 209525 471654 2404355 8220242 27 34 85 754 1409 2309 27 34 85 754 1409 2309 2519298 1318248 2304989 2021220 2463151 10626906 0.77350 0.82490 0.00020 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 62512 53052 9460 9460 X 2471331 8180 8180 2463151 0 2463151 2483786 8180 8180 2475606 0 2475606 PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON TRADE OR BUSINESS PROFITS GENERATED BY ACTIVITIES RELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. THE ORGANIZATION MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES FOR PROFITS GENERATED FROM TRADE OR BUSINESS ACTIVITIES UNRELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. AS OF JUNE 30, 2022, MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS NOT GENERATED ANY UNRELATED BUSINESS TAXABLE INCOME. THE ORGANIZATION ASSESSES THE RECORDING OF UNCERTAIN TAX POSITIONS BY EVALUATING THE MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT REQUIREMENTS A TAX POSITION MUST MEET BEFORE BEING RECOGNIZED AS A BENEFIT IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNCERTAIN TAX POSITIONS AS A COMPONENT OF INCOME TAX EXPENSE, IF ANY, IN ITS STATEMENT OF ACTIVITIES. THE ORGANIZATION HAS NOT RECOGNIZED ANY LIABILITIES FOR UNCERTAIN TAX POSITIONS OR UNRECOGNIZED BENEFITS AS OF JUNE 30, 2022. THE ORGANIZATION DOES NOT EXPECT ANY MATERIAL CHANGE IN UNCERTAIN TAX BENEFITS WITHIN THE NEXT 12 MONTHS. X X X 0 0 0 0 0 0 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 187407 0 0 0 0 0 0 0 23294 0 210701 0 0 0 X 2 90478 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FULL 990 IS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ONCE EACH CALENDAR YEAR, EMPLOYEES, BOARD MEMBERS AND ANYONE WITH FIDUCIARY DUTIES WITHIN THE ORGANIZATION THAT CAN INFLUENCE ACTIONS OF THE COLLEGE FOR SOCIAL INNOVATION (CFSI) MUST DISCLOSE POTENTIAL CONFLICT THAT MIGHT ARISE BETWEEN CFSI AND ANY POTENTIAL AREAS. FORM 990, PART VI, SECTION B, LINE 15 FOUNDING CEO ERIC SCHWARZ AND THE TWO OTHER FOUNDING MEMBERS OF THE BOARD PUT SOME CAREFUL THOUGHT INTO STARTING COMPENSATION FOR SCHWARZ, AN ACCOMPLISHED SOCIAL ENTREPRENEUR WITH APPROXIMATELY 30 YEARS OF RELEVANT EXPERIENCE. TAKEN INTO ACCOUNT WERE SEVERAL FACTORS, INCLUDING: -SCHWARZ'S PAST EXPERIENCE AND COMPENSATION AS A SOCIAL SECTOR LEADER -SCHWARZ'S LEADERSHIP AS A FULL-TIME UNCOMPENSATED VOLUNTEER FOR NINE MONTHS (LATE 2014 TO AUGUST 2015) DEVELOPING THE COLLEGE FOR SOCIAL INNOVATION IDEA AND BUSINESS PLAN -INFORMAL BENCHMARKS OF OTHER SOCIAL ENTREPRENEURS WITH TWO TO THREE DECADES OF RELEVANT EXECUTIVE EXPERIENCE STARTING NEW SOCIAL SECTOR ORGANIZATIONS -INFORMAL BENCHMARKING OF CEO COMPENSATION FOR NEW ENTREPRENEURIAL VENTURES IN THE HIGHER EDUCATION WORLD BASED ON THIS INFORMAL BENCHMARKING AND SCHWARZ'S PAST COMPENSATION AND EXPERIENCE, SCHWARZ PROPOSED A SALARY THAT WAS A 10% REDUCTION FROM HIS COMPENSATION AT CITIZEN SCHOOLS AND COMMITTED TO TAKE NO COLA OR MERIT RAISE FOR AT LEAST TWO YEARS AS THE ORGANIZATION SCALED FROM START-UP TO AN ANTICIPATED BUDGET OF APPROXIMATELY $3 MILLION IN FY18, THE ORGANIZATION'S THIRD YEAR OF OPERATIONS. OUTSIDE BOARD MEMBERS TOM CRAIG AND TULAINE MONTGOMERY DISCUSSED THE SALARY AND APPROVED IT AS PART OF APPROVING THE ORGANIZATION'S FY16 BUDGET. PRIOR TO ANY FUTURE CHANGES TO THE COMPENSATION, COLLEGE FOR SOCIAL INNOVATION PLANS TO CREATE A FORMAL FINANCE AND BUDGET COMMITTEE CHARGED WITH, AMONG OTHER THINGS, REVIEWING AND APPROVING EXECUTIVE COMPENSATION, BASED ON PERFORMANCE AND INDUSTRY NORMS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT FOR THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED DURING THE YEAR.