2022-05-12T10:52:23-05:00 2021-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFFICE PARK BRAINTREE MA 02184 990 2020-07-01 222536037 ROXBURY COMMUNITY COLLEGE FOUNDATION INC ROXB 6174260060 1234 COLUMBUS AVENUE NO 210 ROXBURY MA 02120 REV RAY HAMMOND BOARD CHAIR 6176356769 2022-05-11 1 REV RAY HAMMOND XXX-XX-XXXX STEVEN J COHEN P00747146 6174711120 2022-05-11 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z REV RAY HAMMOND 1234 COLUMBUS AVENUE NO 210 ROXBURY MA 02120 580123 0 X N/A X 1983 MA TO RAISE FUNDS FROM PRIVATE SOURCES TO SUPPORT THE EDUCATION OPPORTUNITIES FOR THE STUDENTS OF ROXBURY COMMUNITY COLLEGE AND SUPPORT PROGRAMS, PROJECTS AND ACTIVITIES THAT BENEFIT BOTH THE COLLEGE AND ITS STUDENTS. 11 10 0 2 0 0 492200 374279 0 0 182122 92224 -73160 -54684 601162 411819 238827 129000 0 0 0 0 100000 0 0 37945 51801 376772 180801 224390 231018 2495160 3407653 968 16656 2494192 3390997 THE FOUNDATION'S MISSION IS TO RAISE FUNDS FROM PRIVATE SOURCES TO SUPPORT THE EDUCATION OPPORTUNITIES FOR THE STUDENTS OF ROXBURY COMMUNITY COLLEGE AND SUPPORT PROGRAMS, PROJECTS AND ACTIVITIES THAT BENEFIT BOTH THE COLLEGE AND ITS STUDENTS. 0 0 100000 100000 GRANTS TO FUND PROGRAM ENHANCEMENTS, FACILITY IMPROVEMENTS, STUDENT SUPPORT SERVICES, AND MORE. 29000 29000 MERIT AND NEED-BASED SCHOLARSHIPS AWARDED TO STUDENTS OF ROXBURY COMMUNITY COLLEGE 129000 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 MA X NON PROFIT CAPITAL MANAGEMENT 7819336726 41 MAIN STREET STERLING MA 01564 REVEREND RAY HAMMOND CHAIR 1.00 X X 0 0 0 ROBERT WARD VICE-CHAIR 1.00 X X 0 0 0 STEPHANIE MONAGHAN TREASURER 1.00 X X 0 0 0 GRACE LEE CLERK 1.00 X X 0 0 0 LESLIE HARRIS MEMBER 1.00 X 0 0 0 EVA MITCHELL MEMBER 1.00 X 0 0 0 EVAN HINES MEMBER 1.00 X 0 0 0 GREGORY KING MEMBER 1.00 X 0 0 0 VALERIE ROBERSON PRESIDENT 1.00 40.00 X 0 215328 0 GERALD CHERTAVIAN MEMBER 1.00 X 0 0 0 SHERIFF STEVEN TOMPKINS MEMBER 1.00 X 0 0 0 0 215328 0 0 0 1 0 0 178251 196028 374279 29713 29713 176131 113620 62511 62511 62511 0 178251 54684 -54684 -54684 411819 0 0 37540 100000 100000 29000 29000 4932 4932 17863 17863 17862 17862 7338 7338 1762 1762 2044 2044 180801 129000 51801 0 257148 219707 45079 287754 2282 2282 1400 1400 2189251 2896510 2495160 3407653 968 16656 968 16656 X 147568 159616 2346624 3231381 2494192 3390997 2495160 3407653 231018 665787 0 X X 0 1 X 1 0 X 21430 65214 67925 492200 374279 1021048 42524 66715 86171 86171 42083 323664 63954 131929 154096 578371 416362 1344712 1344712 82451 79699 95302 95302 29713 382467 1727179 0.77860 0.70320 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1570971 712796 -129000 2412767 1700993 14478 -144500 1570971 1650739 50254 1700993 1659302 154922 -163485 1650739 1493597 292705 -127000 1659302 0.00000 0.36430 0.63570 0 0 0 X 1156511 665787 42083 54684 762554 393957 17862 17862 411819 259706 42083 54684 96767 162939 17862 17862 180801 PART V, LINE 4: ENDOWMENT FUNDS ARE RESTRICTED BY THE DONOR AGAINST ANY EXPENDITURE OF PRINCIPAL. THESE FUNDS ARE RESTRICTED FOR VARIOUS SCHOLARSHIP AND LOAN PROGRAMS AS WELL AS VARIOUS ACADEMIC PURPOSES SOLELY FOR ROXBURY COMMUNITY COLLEGE. THE FOUNDATION FOLLOWS THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (UPMIFA) GUIDELINES ON THE MANAGEMENT AND INVESTMENT OF ENDOWMENT FUNDS. THE FOUNDATION'S BOARD OF DIRECTORS ESTABLISHED A SPENDING POLICY WHICH ALLOWS FOR UP TO FIVE PERCENT OF THE THREE YEAR QUARTERLY MOVING AVERAGE MARKET VALUE OF THE INVESTMENT PORTFOLIO TO BE USED TO FUND OPERATIONS AND PROGRAMS FOR ANY GIVEN YEAR. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" (MLTN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE FOUNDATION MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. PART XI, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSE 54,684. PART XII, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSE 54,684. LEGENDS OF ROXBURY 178251 178251 54684 178251 178251 54684 54684 -54684 SCHEDULE G PART II LINE 2 THE 2021 FUNDRAISING EVENT WAS HELD AS A REMOTE EVENT DURING THE COVID-19 PANDEMIC. AS SUCH, THE PRICE OF TICKETS WERE DETERMINED BY THE FOUNDATION TO BE 100% CONTRIBUTIONS AS THERE WAS NO MEAL OR ENTERTAINMENT VALUE ASSOCIATED WTH ATTENDANCE. 1 ROXBURY COMMUNITY COLLEGE 1234 COLUMBUS AVENUE ROXBURY MA 02120 042726857 115 100000 SUPPORT OF THE COLLEGE AND ITS STUDENTS THROUGH VARIOUS GRANTS. 1 SCHOLARSHIPS TO ROXBURY COMMUNITY COLLEGE STUDENTS 49 29000 CASH VALUE PART I, LINE 2: ROXBURY COMMUNITY COLLEGE FOUNDATION MONITORS ITS USE OF GRANT FUNDS BY AWARDING THESE FUNDS TO SPECIFIC PROGRAMS OR TO SPECIFIC INDIVIDUALS TO BE USED AT THE COLLEGE AND IN ACCORDANCE WITH THE PURPOSE OF THE INDIVIDUAL GRANTS. PERIODIC FOLLOW-UP IS COMPLETED TO ENSURE THAT FUNDS ARE APPROPRIATELY USED FOR THEIR SPECIFIC PURPOSE,PROGRAM, AND SCHOLARSHIP. 0 0 0 0 0 0 0 0 0 VALERIE ROBERSON PRESIDENT 0 203800 0 0 0 11528 0 0 0 0 0 215328 0 0 WILLIAM SAPERS FORMER BOARD MEMBER 15274 DURING FISCAL YEAR 2008, THE FOUNDATION PURCHASED A $500,000 SINGLE PREMIUM IMMEDIATE ANNUITY WITH WILLIAM SAPERS, A FORMER BOARD MEMBER, AS THE ANNUITANT. THE FOUNDATION ALSO PURCHASED A $500,000 FLEXIBLE PREMIUM UNIVERSAL LIFE INSURANCE POLICY ON THE ANNUITANT'S LIFE. THE ANNUITANT AND HIS DAUGHTER EACH HAVE A 33% INTEREST IN THE INSURANCE COMPANY. IN FISCAL YEAR 2021, ANNUITY INTEREST INCOME OF $40,095 WAS RECEIVED DIRECTLY BY THE FOUNDATION, NET OF LIFE INSURANCE PREMIUM EXPENSE OF $24,821. 0 FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION UTILIZED AN EXTERNAL CONSULTANT, NON PROFIT CAPITAL MANAGEMENT, LLC. TO DO BOOKKEEPING, PROGRAM ADMINISTRATION AND FINANCIAL CONSULTING. FORM 990, PART VI, SECTION A, LINE 8B THE FOUNDATION DOES NOT HAVE ANY SUBCOMMITTIES, ONLY THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS GIVEN TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. ONCE APPROVED, THE FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION REGULARLY UPDATES AND DISTRIBUTES COPIES OF THE FINANCIAL CONTROL MANUAL AND EACH DIRECTOR IS ASKED IF THEY HAVE READ AND UNDERSTOOD IT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE FORWARDED TO THE COLLEGE AND MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE SELECTION AND RETENTION OF AUDITORS AS WELL AS OVERSIGHT OF THE AUDIT OF THE FOUNDATION. ROXBURY COMMUNITY COLLEGE 1234 COLUMBUS AVENUE ROXBURY MA 02120 042726857 TO SUPPORT THE EDUCATION OPPORTUNITIES FOR THE STUDENTS OF THE COLLEGE MA 115 N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ROXBURY COMMUNITY COLLEGE B 100000 GRANT SCHEDULE ROXBURY COMMUNITY COLLEGE O 42083 MANAGEMENT ESTIMATE