2021-05-12T14:56:22-05:00 2020-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-07-01 042321292 PINE MANOR COLLEGE PINE 6177317098 400 HEATH STREET CHESTNUT HILL MA 02467 THOMAS O'REILLY PRESIDENT 6177317098 2021-05-12 1 THOMAS WASHBURN CPA P00537319 5083669100 2021-05-12 2019 2022-09-23 18:48:47Z THOMAS O'REILLY 400 HEATH STREET CHESTNUT HILL MA 02467 23054951 0 X WWW.PMC.EDU X 1911 MA THE MISSION OF PINE MANOR COLLEGE IS TO MAKE CERTAIN THAT ALL GRADUATES ARE PREPARED TO TAKE MEANINGFUL STEPS IN THEIR LIVES: ENGAGING IN NEW JOBS AND CAREERS, CONTINUING TO LEARN, AND POSITIVELY CONTRIBUTING TO THEIR COMMUNITIES. STUDENTS, INCLUDING THOSE WHO ARE THE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE, WHO ARE LOOKING FOR A PURPOSEFUL EDUCATION IN A PERSONALIZED AND INCLUSIVE LEARNING COMMUNITY, WILL FIND A HOME AT PINE MANOR COLLEGE. 11 10 298 20 332193 0 2266165 2675076 19045069 16189734 1325794 711523 477411 315819 23114439 19892152 5358480 5904239 0 0 8010895 8001324 0 0 415582 9660320 9109252 23029695 23014815 84744 -3122663 26586218 25101977 10060257 12113839 16525961 12988138 X THE MISSION OF PINE MANOR COLLEGE IS TO MAKE CERTAIN THAT ALL GRADUATES ARE PREPARED TO TAKE MEANINGFUL STEPS IN THEIR LIVES: ENGAGING IN NEW JOBS AND CAREERS, CONTINUING TO LEARN, AND POSITIVELY CONTRIBUTING TO THEIR COMMUNITIES. STUDENTS, INCLUDING THOSE WHO ARE THE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE, WHO ARE LOOKING FOR A PURPOSEFUL EDUCATION IN A PERSONALIZED AND INCLUSIVE LEARNING COMMUNITY, WILL FIND A HOME AT PINE MANOR COLLEGE. 0 1 18692849 5904239 16173360 THE COLLEGE PROVIDES AN UNDERGRADUATE LIBERAL ARTS EDUCATION AND A GRADUATE DEGREE IN FINE ARTS. TOTAL ENROLLMENT IS 358 STUDENTS. 18692849 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 57 0 1 298 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X THOMAS O'REILLY 6177317101 400 HEATH STREET CHESTNUT HILL MA 02467 THOMAS M O'REILLY PRESIDENT 40.00 X X 300000 0 18389 JANINE DAILEY VP ADVANCEMENT 40.00 X 140000 0 15500 DIANE MELLO-GOLDNER DEAN OF COLLEGE 40.00 X 130000 0 1250 SHELLEY DROPKIN DIRECTOR OF HUMAN RESOURCES 40.00 X 103000 0 16530 CHITRA SHARMA CHIEF FINANCIAL OFFICER 40.00 X 0 0 0 ROBERT UTZSCHNEIDER CHAIR 8.00 X X 0 0 0 LISE LEIST VICE-CHAIR 2.00 X X 0 0 0 ANDREW EVANS TREASURER 4.00 X X 0 0 0 MARGARET KRIPPENDORF SECRETARY 3.00 X X 0 0 0 PETER ALCOCK TRUSTEE 2.00 X 0 0 0 DOROTHY KEE TRUSTEE 2.00 X 0 0 0 DOROSELLA KALUMA TRUSTEE 2.00 X 0 0 0 ANDREW SHAFTER TRUSTEE 2.00 X 0 0 0 MICHELLE CODRINGTON TRUSTEE (JOINED 9/1/19) 2.00 X 0 0 0 ELIZABETH ADJEI TRUSTEE (UNTIL 8/30/19) 2.00 X 0 0 0 TIMOTHY ALLEN TRUSTEE 6.00 X 0 0 0 673000 0 51669 4 0 1 0 ALADDIN FOOD MANAGEMENT 2400 ANSYS DRIVE SUITE 404 CANONSBURG PA 15317 FOOD SERVICES 1181461 SECURITY SERVICE OF CONNECTICUT INC 25 CONTROLS DRIVE SHELTON CT 06484 CAMPUS SECURITY 542517 DTZ INC 275 GROVE STREET SUITE 3-200 AUBURNDALE MA 02466 CLEANING COMPANY 527652 LASELL COLLEGE 1844 COMMONWEALTH AVENUE NEWTON MA 02466 TECHNOLOGY SERVICES 389713 CLIFTON LARSON ALLEN LLP 131 HARTWELL AVE SUITE 300 LEXINGTON MA 02421 TEMP AGENCY 352787 5 1280147 1394929 2675076 TUITION AND FEES 611710 10314632 10314632 AUXILIARY ENTERPRISES 611710 2909283 2909283 RENTAL 532000 1726430 1726430 EDUCATIONAL SERVICES 611710 857221 857221 PRESCHOOL 624410 382168 382168 16189734 276315 276315 394655 444630 -49975 -49975 -49975 3153377 2718169 435208 435208 435208 OTHER 611710 365794 365794 365794 19892152 16173360 332193 711523 5904239 5904239 318389 191033 127356 6316659 5163213 1004572 148874 878286 735663 112209 30414 487990 400364 67071 20555 352001 352001 329757 329757 49417 49417 1430933 786010 626685 18238 40555 14781 22737 3037 418639 362176 43821 12642 2450098 2200229 222174 27695 61441 57712 3096 633 134106 20055 113799 252 367062 329622 33290 4150 186594 186594 PLACEMENT FEES 1221502 1221502 ROOM AND BOARD 1079756 1064570 15090 96 MISCELLANEOUS 263537 112313 149027 2197 BAD DEBT 220000 220000 503854 320400 164011 19443 23014815 18692849 3906384 415582 227261 368442 1095695 286584 657223 690255 122709 108160 44917044 30886993 14599077 14030051 6874219 6308450 2747487 3005237 262547 304798 26586218 25101977 2097586 3157482 990778 165464 4938948 4687314 1660897 3322473 372048 781106 10060257 12113839 X 4663529 1816775 11862432 11171363 16525961 12988138 26586218 25101977 X -3122663 -473404 58244 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10728676 150445 188702 855838 10211985 10677627 40306 662743 652000 10728676 10907923 48255 449127 727678 10677627 10967830 51636 394564 506107 10907923 10961905 58614 360311 413000 10967830 1.00000 0.00000 0 0 376268 376268 30120154 18227533 11892621 2766649 1674267 1092382 11611990 10985193 626797 41983 41983 14030051 FIXED INCOME BONDS, GOVERNMENT OBLIGATIONS AND MUTUAL FUNDS 3005237 F 3005237 ANNUITY PAYMENT OBLIGATION 43483 ASSET RETIREMENT OBLIGATION 221240 CAPITAL LEASE OBLIGATION 82595 CONDITIONAL GRANT ADVANCE 433788 781106 X 13967966 -473404 58244 -415160 14383126 49417 5459609 5509026 19892152 17505789 444630 444630 17061159 49417 5904239 5953656 23014815 PART V, LINE 4: PERMANENTLY RESTRICTED NET ASSETS REPRESENT AMOUNTS RECEIVED FROM DONORS WITH STIPULATION THAT THE PRINCIPAL WILL BE HELD IN PERPETUITY AND ONLY THE INVESTMENT INCOME CAN BE SPENT. PART X, LINE 2: UNCERTAINTY IN INCOME TAXES THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COLLEGE HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS AT JUNE 30, 2020. THE COLLEGE'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON CARRYING VALUE OF INTEREST RATE SWAP CONTRACT 58,244. PART XI, LINE 4B - OTHER ADJUSTMENTS: PINE MANOR'S PORTION OF STUDENT AID 5,904,239. DIRECT SPECIAL EVENT RENTAL EXPENSE -444,630. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENT RENTAL EXPENSE 444,630. PART XII, LINE 4B - OTHER ADJUSTMENTS: PINE MANOR'S PORTION OF STUDENT AID 5,904,239. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF PINE MANOR COLLEGE'S NONDISCRIMINATORY POLICY REGARDING STUDENTS IS CONTAINED IN THE COLLEGE'S CATALOGS, BROCHURES, ETC., WHICH ARE AVAILABLE UPON REQUEST. SCHEDULE E, PART I, LINE 6 PINE MANOR COLLEGE RECEIVES AND PARTICIPATES IN VARIOUS GOVERNMENTAL FINANCIAL AID ASSISTANCE PROGRAMS COMMON TO COLLEGES AND UNIVERSITIES SUCH AS NATIONAL DIRECT STUDY LOAN PROGRAM, TITLE II LIBRARY GRANT PROGRAM, BASIC EDUCATIONAL OPPORTUNITY GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, AND WORK STUDY PROGRAMS. 1 PINE MANOR'S PORTION OF INTERNAL AID 280 0 5904239 FMV STUDENT AID PART I, LINE 2: THE COLLEGE RECORDS AND TRACKS GRANTS AND ASSISTANCE. X X 0 0 0 0 0 0 0 0 0 THOMAS M O'REILLY PRESIDENT 300000 0 0 0 0 0 2915 0 15474 0 318389 0 0 0 JANINE DAILEY VP ADVANCEMENT 140000 0 0 0 0 0 0 0 15500 0 155500 0 0 0 PART I, LINE 3 THE WRITTEN EMPLOYMENT CONTRACT WAS APPROVED BY THE BOARD. A MASS DEVELOPMENT FINANCE AGENCY 043431814 2008-07-01 7500000 CAPITAL IMPROVEMENTS 0 0 0 A 2552693 7500000 150000 7350000 2010 0 0 1 1 A 0 0 0 0 0.03800 0.03800 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 FORM 990, PART III, LINE 3 THE COLLEGE, IN RESPONSE TO LONG-TERM FINANCIAL FRAGILITY AND THE SUDDEN IMPACT OF THE COVID-19 PANDEMIC ON AUXILIARY REVENUE STREAMS, ANNOUNCED LATE IN FISCAL YEAR 2020 THE INTENT TO INTEGRATE WITH BOSTON COLLEGE (BC). EFFECTIVE JUNE 30, 2020 AS OF 11:59 PM, THE COLLEGE ENTERED INTO AN INTEGRATION AGREEMENT WITH BC. UNDER THE TERMS OF THE AGREEMENT, TWO-THIRDS OF THE COLLEGE'S BOARD OF TRUSTEES WILL BE APPOINTED BY BC. STUDENTS OF THE COLLEGE WILL REMAIN AT THE SCHOOL IN A TEACH OUT AGREEMENT FOR AN INITIAL PERIOD UP TO TWO YEARS. COSTS OF THE TEACH OUT PERIOD WILL BE SUBSIDIZED BY BC. IN ADDITION, THE COLLEGE ENTERED INTO A LEASE AGREEMENT WITH BC EFFECTIVE JUNE 30, 2020, FOR DORMITORY SPACE AT A PREDETERMINED RATE PER AVAILABLE DORMITORY BED DURING THE INITIAL PERIOD. FORM 990, PART VI, SECTION A, LINE 7A EFFECTIVE JUNE 30, 2020 AS OF 11:59 PM, THE COLLEGE ENTERED INTO AN INTEGRATION AGREEMENT WITH BOSTON COLLEGE. UNDER THE TERMS OF THE AGREEMENT, TWO-THIRDS OF THE COLLEGE'S BOARD OF TRUSTEES WILL BE APPOINTED BY BOSTON COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED ELECTRONICALLY TO BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS AN ESTABLISHED CONFLICT OF INTEREST POLICY REQUIRING DISCLOSURE OF INDIVIDUAL, FAMILY OR A RELATED ENTITY WHICH ARE ADVERSE TO THE COLLEGE; THE PARTY IS IN A POSITION TO INFLUENCE A DECISION BENEFITING THE PARTY; DIRECT OR INDIRECT INVESTMENT INTEREST WHICH MAY IMPAIR INDEPENDENCE OR FINANCIAL INTEREST WHICH COULD BENEFIT BY A DECISION OR OPERATIONS OF THE COLLEGE. THERE IS A POLICY WHICH IS DISTRIBUTED TO OFFICERS, TRUSTEES AND KEY EMPLOYEES WHICH REQUIRES IT BEING SIGNED AND RETURNED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT HAS A CONTRACT WITH THE COLLEGE. THE EXECUTIVES RECEIVE THE SAME RATE INCREASES AS STAFF MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION, WHEN REQUESTED. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE UNIFORM GUIDANCE WEB SITE AND TAX RETURNS ARE AVAILABLE ON GUIDESTAR. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON CARRYING VALUE OF INTEREST RATE SWAP CONTRACT 58,244. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE PROCESS FROM PRIOR YEAR.