2022-05-04T12:12:31-05:00 2021-06-30 263753134 CBIZ MHM LLC 500 BOYLSTON STREET BOSTON MA 02116 990 2020-07-01 042103576 BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY BENJ 6174234630 41 BERKELEY STREET BOSTON MA 02116 KEVIN L HEPNER CHIEF FINANCIAL OFFICER 6174234630 2022-04-29 1 KEVIN HEPNER 999009999 BRENDA L BOOTH P01342395 6177610600 2022-04-29 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DR AISHA FRANCIS 41 BERKELEY STREET BOSTON MA 02116 17087445 0 X WWW.BFIT.EDU X 1913 MA BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY IS AN AFFORDABLE, URBAN COLLEGE SERVING THE BOSTON REGION AND COMMITTED TO STUDENT SUCCESS AND CAREER READINESS IN TECHNOLOGY FIELDS. 17 16 194 21 0 0 3912823 7902084 10472838 9142041 8628 -6883 159902 40488 14554191 17077730 2679167 3139663 0 0 9779694 7673033 0 0 844007 6438742 5932250 18897603 16744946 -4343412 332784 14257736 15070208 8313211 8774589 5944525 6295619 X BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY (BFIT) IS AN AFFORDABLE, URBAN COLLEGE SERVING THE BOSTON REGION AND COMMITTED TO STUDENT SUCCESS AND CAREER READINESS IN TECHNOLOGY FIELDS. THROUGH PERSONALIZED SUPPORT, HANDS-ON LEARNING, AND INDUSTRY-INFORMED CURRICULA, BFIT PREPARES GRADUATES FOR WORK, LIFE-LONG LEARNING, AND CITZENSHIP. 0 0 12234225 3139663 9142041 PROVIDING COLLEGE EDUCATION AT THE LEVEL OF CERTIFICATES, ASSOCIATE DEGREES AND BACHELOR'S DEGREES TO A LARGELY UNDERSERVED URBAN POPULATION. IN THE 2020-2021 ACADEMIC YEAR THE INSTITUTE ENROLLED ABOUT 600 STUDENTS, MOSTLY FULL TIME. BFIT STRIVES TO EMPOWER AND INSPIRE EVERY STUDENT TO REACH HIS OR HER FULL POTENTIAL, THROUGH INDUSTRY INFORMED CURRICULA, HANDS-ON LEARNING, AND PERSONALIZED SUPPORT, PRODUCING GRADUATES FULLY PREPARED FOR WORK, LIFE-LONG LEARNING, AND CITZENSHIP. 12234225 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 1015 0 1 194 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ALAN BLAIR 6175881363 41 BERKELEY STREET BOSTON MA 02116 ANTHONY G BENOIT PRESIDENT EMERITUS 35.00 X X 168965 0 28214 TURAHN DORSEY CHAIR 5.00 X X 0 0 0 JUDY PAGLIUCA TRUSTEE (UNTIL 6-4-21) 2.00 X 0 0 0 MAUREEN POMPEO CLERK 5.00 X X 0 0 0 JAKE GROSSMAN CLERK (UNTIL 6-4-21) 5.00 X X 0 0 0 KEVIN STONE TRUSTEE 2.00 X 0 0 0 DAVID FISCHER TRUSTEE 2.00 X 0 0 0 CHRISTOPHER MORSS TRUSTEE (UNTIL 6-4-21) 2.00 X 0 0 0 ANDREW TARSY TRUSTEE 2.00 X 0 0 0 CLAIRE WADINGTON TREASURER 5.00 X X 0 0 0 RAHUL YARALA TRUSTEE 2.00 X 0 0 0 JED NOSAL CHAIR (UNTIL 6-4-21) 5.00 X X 0 0 0 ROGER BERMAN TRUSTEE 2.00 X 0 0 0 CHRISTOPHER OSGOOD TRUSTEE 2.00 X 0 0 0 RAHKEEM MORRIS TRUSTEE 2.00 X 0 0 0 ANNA YU TRUSTEE 2.00 X 0 0 0 MARISA MELDONIAN VICE CHAIR 5.00 X X 0 0 0 MARY CHURCHILL TRUSTEE 2.00 X 0 0 0 PAUL MACRINA TRUSTEE 2.00 X 0 0 0 STETSON MARSHALL TRUSTEE 2.00 X 0 0 0 SCOTT ORAN TRUSTEE (UNTIL 6-4-21) 2.00 X 0 0 0 CHENITA DAUGHTRY TRUSTEE 2.00 X 0 0 0 AISHA FRANCIS PRESIDENT & CEO 35.00 X 149092 0 15677 SCOTT STEELE DIRECTOR OF FINANCE & OPERATIONS 35.00 X 112863 0 10301 KEVIN L HEPNER CHIEF FINANCIAL OFFICER 35.00 X 0 0 0 ANGELA JOHNSON CHIEF DEVELOPMENT OFFICER 35.00 X 141982 0 5287 MARVIN LOISEAU DEAN OF ACADEMICS & CHIEF ACADEMIC OFFICER 35.00 X 129238 0 15320 DAVID PROTANO DEPARTMENT CHAIR OF AUTOMTIVE TECHNOLOGY 35.00 X 118104 0 23788 TRACY ARVIN DEPARTMENT CHAIR ELECTRICAL TECHNOLOGY 35.00 X 114946 0 14090 KRISTEN HURLEY CHIEF STRATEGY OFFICER 35.00 X 115441 0 5031 1050631 0 117708 12 0 1 0 NEOSCOPE 1 CATE ST PORTSMOUTH NH 03801 IT CONSULTANT 301901 OVERDRIVE MARKETING COMMUNICATIONS 38 EVERETT STREET ALLSTON MA 02134 ADVERITISING 289053 LEGGAT MCCALL PROPERTIES LLC 10 POST OFFICE SQUARE BOSTON MA 02109 CONSULTANT 152470 THE VIERAS LLC 17 FERRY STREET LAWRENCE MA 01841 CONSULTING/CONTRACTRED SERVICES 128392 4 4614851 3287233 679489 7902084 TUITION AND FEES 611710 7327630 7327630 AUXILIARY INCOME 611710 1293738 1293738 STUDENT PROVISIONS 611710 520673 520673 9142041 2832 2832 40488 0 40488 40488 40488 9715 -9715 -9715 -9715 17077730 9142041 0 33605 3139663 3139663 941431 941431 5544017 5064903 337704 141410 773042 542129 212114 18799 414543 370863 33155 10525 1252506 719924 532582 105012 3682 101330 83500 83500 3160 3160 604205 598982 5223 384001 358128 22019 3854 19 19 4864 3334 1486 44 292324 292324 116819 116819 BAD DEBT EXPENSE 936163 94262 190401 651500 STUDENT PROVISIONS 525580 525580 EQUIPMENT RENTAL AND MA 274106 228579 45247 280 UTILITIES 234689 40471 194218 1115302 543725 553982 17595 16744946 12234225 3666714 844007 1757983 1693554 1448352 1308939 703808 801446 65619 18887949 8081603 9982171 10806346 274503 439923 25300 20000 14257736 15070208 1534236 1085820 1543745 869178 4779850 6819591 455380 0 8313211 8774589 X 295115 1099037 5649410 5196582 5944525 6295619 14257736 15070208 332784 18310 0 X 0 1 X 1 1 1 X 3593610 4087288 2659327 3912823 7902084 22155132 3593610 4087288 2659327 3912823 7902084 22155132 2400530 19754602 373080 415133 341277 177160 43320 1349970 23505102 51379860 0.84040 0.72890 X FORM 990, SCHEDULE A, PART I, LINE 7: THE BASIS OF BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY'S PUBLIC CHARITY STATUS HAS BEEN AND CONTINUES TO BE ITS QUALIFICATION AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). THE ORGANZIATION HAS CHECKED BOX 7 ON SCHEDULE A, PART I AND COMPLETED SCHEDULE A, PART II IN ORDER TO DEMONSTRATE ITS QUALIFICATION TO FOLLOW THE SPECIAL RULE FOR ABBREVIATED REPORTING OF CONTRIBUTIONS ON FORM 990, SCHEDULE B. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3374503 157153 8267 0 3539923 3231328 152550 -9375 3374503 3843178 96779 41371 750000 3231328 3508717 334461 2343178 4152045 111300 400370 579594 575404 3508717 0.09060 0.90940 0.00000 0 0 726832 726832 3181180 3181180 0 2767669 1759179 1008490 4043009 3141244 901765 8169259 8169259 10806346 X 15177502 18310 18310 15159192 3160 1915378 1918538 17077730 14826408 0 14826408 3160 1915378 1918538 16744946 PART V, LINE 4: THE INSTITUTE HAS NUMEROUS DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED TO FURTHER ITS EDUCATIONAL MISSION. PART X, LINE 2: THE INSTITUTE ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE INSTITUTE HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AND ITS DETERMINATIONS OF WHICH INCOME ITEMS ARE RELATED OR UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE INSTITUTE HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE INSTITUTE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS AND CONSIDERS FURTHER TAX DISCLOSURES AS NOT SIGNIFICANT. THE INSTITUTE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 1,915,378. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 1,915,378. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE INFORMATION IS MAINTAINED ON THE COLLEGE'S WEBSITE, IN THE CATALOG, AND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6 THE INSTITUTE RECEIVES FEDERAL GOVERNMENT FUNDS (TITLE IV) TO BE USED IN THE STUDENT FINANCIAL AID PROGRAM. THE FUNDS RECEIVED INCLUDE PELL GRANTS, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY AND PARTICIPATION IN THE FEDERAL DIRECT LOAN PROGRAMS (SUBSIDIZED STAFFORD, UNSUBSIDIZED STAFFORD, PARENT PLUS LOANS). ALL GRANTS ARE REVIEWED, EVALUATED AND REPORTED (A-133) BY THE INSTITUTE'S INDEPENDENT AUDITOR, MAYER HOFFMAN MCCANN PC. 1 SCHOLARSHIPS FOR STUDENTS 452 1915378 FMV REDUCTION OF STUDENT ACCOUNT PASS THROUGH OF HEERF FUNDS TO STUDENTS 854 1224285 0 PART I, LINE 2: THE INSTITUTE MAINTAINS DETAILED RECORDS IN THE STUDENT INFORMATION SYSTEM DATABASE OF ALL SCHOLARSHIPS AWARDED. X X X 0 0 0 0 0 0 0 0 0 ANTHONY G BENOIT PRESIDENT EMERITUS 168965 0 0 0 0 0 14520 0 13694 0 197179 0 0 0 AISHA FRANCIS PRESIDENT & CEO 149092 0 0 0 0 0 1927 0 13750 0 164769 0 0 0 X 12 633239 FMV X COMPUTER EQUIPMENT 1 46250 FMV 0 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED ON SCHEDULE M, PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE AND PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST DISCLOSURE ANNUALLY AND REPORT CONFLICTS IMMEDIATELY SHOULD THEY DEVELOP DURING THE YEAR. CONFLICT OF INTEREST DISCLOSURES ARE REVIEWED BY THE CHAIR OF THE GOVERNANCE COMMITTEE, AS AUTHROIZED BY THE BOARD OF TRUSTEES IS RESPONSIBLE FOR RESOLUTION, AND THE INDIVIDUAL WITH A CONFLICT IS RECUSED FROM PARTICIPATING IN THE DISCUSSION AND RESOLUTION OF THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS SUBJECT TO ANNUAL REVIEW BY A PRESIDENTIAL REVIEW SUBCOMMITTEE, AS AUTHORIZED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE SUBCOMMITTEE MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, WHO REVIEWS COMPARABLE SALARY INFORMATION PRIOR TO MAKING A RECOMMENDATION FOR APPROVAL TO THE COMPLETE BOARD OF TRUSTEES. THE REVIEW IS DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES. THE CFO'S COMPENSATION IS DETERMINED USING COMPARABILITY DATA, INCLUDING REVIEW AND APPROVAL BY INDEPENDENT PERSONS, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FRANKLIN FOUNDATION 41 BERKELEY STREET BOSTON MA 02116 222995201 SUPPORT BFIT MA 501(C)(3) LINE 12A, I BFIT 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0