2020-07-15T10:39:42-05:00 2019-08-31 GRANT THORNTON LLP 75 STATE ST 13 FL BOSTON MA 02109 990 2018-09-01 510163080 Cambridge College Inc % JOHN SPINARD CAMB 6178681000 500 Rutherford Avenue Boston MA 02129 JOHN SPINARD VP OF FIN & ADMIN 6178681000 2020-07-13 true Erin Couture P01390592 6177237900 2020-07-09 74.104.185.25 26377520201975000036 2020-07-15 P 76CE28031A9CA38A7CAC6E5B3DAEE8C47BFBAD26 6AF54B1178547B833F1CE08032DECD9FC80B9155 2018 2021-01-29 14:40:06Z Deborah C Jackson 500 Rutherford Avenue Boston MA 02129 94505886 false X www.cambridgecollege.edu X 1974 MA THE MISSION OF CAMBRIDGE COLLEGE IS TO PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT, AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS. 13 12 588 12 0 0 568070 1308036 22114779 22612199 1905547 2457984 124292 220259 24712688 26598478 758555 832818 0 0 19236881 18601486 36545 35169 586134 13304731 14614912 33336712 34084385 -8624024 -7485907 92483700 86138396 25328616 25366655 67155084 60771741 TO PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS FOR WHOM THOSE OPPORTUNITIES MAY HAVE BEEN LIMITED OR DENIED. false false 25969481 832818 22612199 FOR MORE THAN 45 YEARS CAMBRIDGE COLLEGE HAS BEEN A LEADER AND PIONEER IN ADULT LEARNING. WITH A MAIN CAMPUS IN BOSTON, MASSACHUSETTS, AND FOUR REGIONAL LOCATIONS NATIONWIDE, WE PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT, AND AFFORDABLE HIGHER EDUCATION TO A DIVERSE POPULATION OF ADULT LEARNERS. OUR MORE THAN 450 FULL-TIME AND PART-TIME FACULTY ARE SCHOLAR-PRACTITIONERS WHO BRING THEIR EXPERIENCE INTO THE CLASSROOM. EACH YEAR, WE ENROLL OVER 5,000 STUDENTS IN OUR UNDERGRADUATE, MASTER'S, AND DOCTORAL DEGREE PROGRAMS AND CERTIFICATE OF ADVANCED GRADUATE STUDIES PROGRAMS. 25969481 true true false false false false false false false true true false false false true true true false true false false false false true false false false false true true false false false false false false false false false false false false false false false false false true X 85 0 true 588 true false false false false false false false false false false false false X 13 12 false false false false false false false true true false false true true true true true true true false false AK CA CO MD MA MI NH NJ NY OH PR SC WA X X JOHN SPINARD 6178681000 500 RUTHERFORD AVENUE Boston MA 02129 Susan M Ifill Chair 1.5 0.0 X X 0 0 0 Allan Cohen Vice Chair 1.0 0.0 X X 0 0 0 Charles L Anderson MD Treasurer 1.0 0.0 X X 0 0 0 John K Dineen Clerk (thru 2/19) 1.0 0.0 X X 0 0 0 James Segel Clerk (as of 3/19) 1.0 0.0 X X 0 0 0 Virginia Loeb Trustee 1.0 0.0 X 0 0 0 Kevin McCall Trustee 1.0 0.0 X 0 0 0 Terence McCourt Trustee 1.0 0.0 X 0 0 0 April Ryan Trustee 1.0 0.0 X 0 0 0 Pedro Arce Trustee 1.0 0.0 X 0 0 0 Jesse Solomon Trustee 1.0 0.0 X 0 0 0 Kenneth Johnson Trustee 1.0 0.0 X 0 0 0 Stephanie Browne Trustee 1.0 0.0 X 0 0 0 Deborah C Jackson President 60.0 0.0 X X 332834 0 60704 John J Spinard VP of Finance & Administration 50.0 0.0 X 197295 0 47540 Mark S Rotondo VP of Innovation & Strategy 50.0 0.0 X 176330 0 47831 Jacqueline J Conrad VP, Marketing, Communications 50.0 0.0 X 112214 0 40921 Lauretta D Siggers VP of HR & Talent Development 50.0 0.0 X 148547 0 25195 Phillip E Page VP of Strategic Partnerships 50.0 0.0 X 102485 0 38987 Gilda G Gely Provost/VP Acad Aff(thru 4/19) 50.0 0.0 X 195918 0 36937 Robert M Goldberg Koch Chair, MBA Executive Dir 50.0 0.0 X 146899 0 42872 Niti Seth Dean School of Psych & Counsel 50.0 0.0 X 152680 0 10138 James S Lee Dean, School of Undergraduate 50.0 0.0 X 122058 0 40957 Mary Ann Joseph Dean, School of Management 50.0 0.0 X 121596 0 19825 Dorothy M Whalen Controller 50.0 0.0 X 116306 0 22223 1925162 0 434130 21 false true false Callahan Inc 80 First St BRIDGEWATER MA 02324 construction 1147026 Jenzabar PO Box 55018 BOSTON MA 02205 Software Consulting 328787 Ricoh USA Inc PO Box 41564 PHILADELPHIA PA 19101 copy/printing 315135 Ruffalo Noel Levitz PO Box 718 DES MOINES IA 50303 Consulting 309389 EBSCO PO Box 204661 DALLAS TX 75320 Subscriptions 208377 12 331518 976518 6037 1308036 TUITION AND FEES 611310 22591929 22591929 0 0 ACADEMIC RELATED INCOME 611710 20270 20270 0 0 22612199 1998609 1998609 0 0 111463 111463 0 111463 111463 68366783 67907408 459375 459375 459375 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 98250 0 0 98250 MEMORABILIA SALES 900099 10546 0 0 10546 108796 26598478 22612199 0 2678243 0 832818 832818 0 0 1598614 661565 937049 0 13829791 12198064 1256884 374843 768922 605308 136501 27113 1436375 949174 439400 47801 967784 861141 79676 26967 0 362805 362805 118704 118704 0 35169 35169 317786 317786 1409105 1104314 299769 5022 1148657 1119231 7199 22227 541502 451922 85632 3948 550649 469650 80999 0 5674432 4744450 929982 130235 107659 20671 1905 0 112313 44135 40344 27834 888481 309613 578868 0 1247442 1052945 194497 255511 139817 115694 BAD DEBT EXPENSE 583723 0 583723 0 LIBRARY COSTS 244502 244502 0 0 PROFESSIONAL MEMBERSHIPS 36185 19980 15555 650 LICENSES, PERMITS, AND FEES 62696 15586 41635 5475 930184 37607 885397 7180 34084385 25969481 7528770 586134 131630 253103 7748928 8139105 16977 223959 1942660 2128957 0 0 0 0 0 0 0 0 1044649 1040050 14134295 3902274 11293481 10232021 70082274 63911099 0 0 0 0 0 0 223101 210102 92483700 86138396 4168650 5186717 0 0 0 0 0 0 0 0 0 0 7994217 7478212 0 0 13165749 12701726 25328616 25366655 X 54534437 47992566 4974412 5008907 7646235 7770268 67155084 60771741 92483700 86138396 X -7485907 1124764 -22200 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 69647702 124033 3074439 553032 8435122 63858020 76366154 2350 1987568 584616 8123754 69647702 14926752 67797963 1161644 643810 6876395 76366154 14451700 891399 416347 0 0 14926752 14619294 1725 349871 519190 0 0 14451700 0.81520 0.06860 0.11620 false false 120522 59256 61266 9502391 1852734 7649657 2669250 1082009 1587241 1842132 908275 933857 10232021 0 LINE OF CREDIT 9300000 CAPITAL LEASE PAYABLE 2365735 TUITION DEPOSITS 980531 PERKINS FEDERAL CONTRIBUTION 55460 12701726 X 26550438 1124764 -22200 1102564 25447874 317786 832818 1150604 26598478 32933781 32933781 317786 832818 1150604 34084385 ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE COLLEGE'S ENDOWMENT CONSISTS OF 28 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS QUASI-ENDOWMENTS. THE PURPOSE OF THE ENDOWMENT FUNDS ARE TO SUPPORT THE EDUCATIONAL MISSION OF THE COLLEGE BY PROVIDING A SOURCE OF FUNDS FOR SCHOLARSHIPS AND OTHER EDUCATIONAL ACTIVITIES. ASC 740 SCHEDULE D, PART X, LINE 2 The College is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code, as amended (the "Code"), and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The College is required to assess uncertain tax positions and has determined that there were no such uncertain positions that are material to the financial statements. RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XI, LINE 2D CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT $(22,200) SCHEDULE D, PART XI, LINE 4B SCHOLARSHIPS $832,818 RECONCILIATION OF EXPENSES TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS $832,818 true true true true true true true false false false false false false false false true false true RACIALLY NON-DISCRIMINATION POLICY Schedule E, Part I, Line 3 CAMBRIDGE COLLEGE IS COMMITTED TO AN EDUCATIONAL AND WORK ENVIRONMENT IN WHICH ALL INDIVIDUALS ARE TREATED WITH RESPECT AND DIGNITY. EACH INDIVIDUAL HAS THE RIGHT TO STUDY AND WORK IN A PROFESSIONAL ATMOSPHERE THAT PROMOTES EQUAL OPPORTUNITIES AND PROHIBITS UNLAWFUL DISCRIMINATORY PRACTICES, INCLUDING HARASSMENT. THEREFORE, THE COLLEGE EXPECTS THAT ALL RELATIONSHIPS AMONG PERSONS IN THE EDUCATIONAL SETTING AND THE WORKPLACE WILL BE BUSINESS-LIKE AND FREE OF BIAS, PREJUDICE AND HARASSMENT. IT IS THE POLICY OF THE COLLEGE TO ENSURE EQUAL OPPORTUNITY WITHOUT DISCRIMINATION OR HARASSMENT ON THE BASIS OF RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, AGE, DISABILITY, MARITAL STATUS, CITIZENSHIP, NATIONAL ORIGIN, GENETICS, OR ANY OTHER CHARACTERISTIC PROTECTED BY LAW. CAMBRIDGE COLLEGE PROHIBITS ANY SUCH DISCRIMINATION OR HARASSMENT. THE COLLEGE'S NON-DISCRIMINATORY POLICY CAN BE FOUND ON ITS WEBSITE AT HTTP://WWW.CAMBRIDGECOLLEGE.EDU/NON-DISCRIMINATION-AND-HARASSMENT. FINANCIAL AID OR ASSISTANCE FROM GOVERNMENT Schedule E, Part I, Line 6a U.S. DEPARTMENT OF EDUCATION STUDENT FINANCIAL AID CLUSTER: FEDERAL WORKSTUDY PROGRAM, FEDERAL PELL GRANTS, FEDERAL SUPPLEMENTAL OPPORTUNITY GRANTS, FEDERAL PERKINS LOAN PROGRAM, FEDERAL TEACH GRANTS, FEDERAL DIRECT LOANS. X X X true Brakeley Briscoe 322 West Bellvue Ave San Mateo CA 94402 consulting false 0 35169 0 35169 AK CO MD MA MI NH NJ NY OH SC WA true SCHOLARSHIPS - SEE PART IV 63 101140 SCHOLARSHIPS - SEE PART IV 11 27279 SCHOLARSHIPS - SEE PART IV 27 71877 SCHOLARSHIPS - SEE PART IV 5 6862 SCHOLARSHIPS - SEE PART IV 2 1502 SCHOLARSHIPS - SEE PART IV 2 12933 FINANCIAL AID 141 346444 Massachusetts Grants 74 145800 Waivers, Alumni & Discounts 83 118981 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S. SCHEDULE I, PART I, LINE 2 ALL FUNDS DONATED BY INDIVIDUALS, CORPORATIONS OR FOUNDATIONS ARE RECORDED AS TEMPORARILY RESTRICTED UNTIL FUNDS ARE IDENTIFIED AS APPLICABLE TO FINANCIAL AID FOR A STUDENT. FUNDS ARE SUBSEQUENTLY CREDITED TO THE STUDENT'S ACCOUNTS. ALL AWARDS ARE UNDER THE DIRECTION OF THE FINANCIAL AID OFFICE TO ENSURE COMPLIANCE WITH DONORS' DIRECTIONS. DESCRIPTION OF GRANT OR ASSISTANCE SCHEDULE I, PART III SCHOLARSHIPS FOR WOMEN MAKING LIFE CHANGES THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 101,140 SCHOLARSHIP FOR TEACHERS AND SOCIAL SERVICES STUDENTS IN THE BOSTON AREA SEEKING TO ADVANCE THEIR CAREERS THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 27,279 SCHOLARSHIPS FOR STUDENT WORKING TOWARDS CIVIL RIGHTS AND SOCIAL JUSTICE IN THEIR PERSONAL LIVES OR EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 71,877 SCHOLARSHIPS FOR STUDENTS MAKING LIFE CHANGES THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 6,862 SCHOLARSHIPS FOR MALE PROTESTANT STUDENTS FROM BOSTON AREA SCHOOLS, PER DONOR RESTRICTIONS, AMOUNTED TO $ 1,502 STUDENTS WITH HERITAGE FROM LAOS, BURMA, CAMBODIA, AND VIETNAM AMOUNTED TO $ 12,933 THE REMAINING $611,225 IS COMPRISED OF FINANCIAL AID ($346,444), MASSACHUSETTS GRANTS ($145,800), AND WAIVERS & DISCOUNTS ($118,981). X X false true false false false false false false false Deborah C Jackson President 331310 0 0 0 1524 0 40000 0 20704 0 393538 0 0 0 John J Spinard VP of Finance & Administration 196779 0 0 0 516 0 16523 0 31017 0 244835 0 0 0 Mark S Rotondo VP of Innovation & Strategy 153861 0 0 0 22469 0 13125 0 34706 0 224161 0 0 0 Jacqueline J Conrad VP, Marketing, Communications 111938 0 0 0 276 0 9907 0 31014 0 153135 0 0 0 Lauretta D Siggers VP of HR & Talent Development 127435 0 0 0 21112 0 10302 0 14893 0 173742 0 0 0 Gilda G Gely Provost/VP Acad Aff(thru 4/19) 195642 0 0 0 276 0 16233 0 20704 0 232855 0 0 0 Robert M Goldberg Koch Chair, MBA Executive Dir 138083 0 0 0 8816 0 11855 0 31017 0 189771 0 0 0 Niti Seth Dean School of Psych & Counsel 126726 0 0 0 25954 0 10138 0 0 0 162818 0 0 0 James S Lee Dean, School of Undergraduate 112499 0 0 0 9559 0 9784 0 31173 0 163015 0 0 0 Schedule J, Part I, Line 4b Certain individuals listed in Form 990, Schedule J, Part II participate in a nonqualified deferred compensation plan. Amounts contributed to the plan are based on the discretion of the College. Contributions to the plan vest on April 30, 2021. Current year accruals of compensation associated with this plan are included in the amounts reported for such individuals in Schedule J, Part II, Column C. The following individual received a contribution under this plan: Deborah C. Jackson $18,000 The payout of these amounts in future years will be included in Schedule J, Part II, Column B(iii) and will also be reported on Schedule J, Part II, Column F FORM 1096 FORM 990, PART V, LINE 1A THE AMOUNT LISTED HAS BEEN REDUCED BY THE NUMBER OF FORMS 1098-T THAT WERE FILED. THE ORGANIZATION FILED 2,971 FORMS 1098-T. EXECUTIVE COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A THE ESTABLISHED EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRS OF ALL STANDING BOARD COMMITTEES, AS DESCRIBED IN SECTION 4.13(A), AND THE OFFICERS OF THE BOARD. THE CHAIR ACTS AS THE CHAIR OF THE EXECUTIVE COMMITTEE, AND THE VICE CHAIR ACTS AS VICE CHAIR OF THE EXECUTIVE COMMITTEE. THE PRESIDENT SERVES AS A MEMBER OF THE EXECUTIVE COMMITTEE, EX-OFFICIO, WITH VOTE. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES TO ADDRESS ROUTINE BUSINESS BETWEEN REGULAR BOARD MEETINGS; IT ASSISTS AND ADVISES THE CHAIR AND THE PRESIDENT IN THEIR RESPONSIBILITIES TO HELP THE BOARD OF TRUSTEES FUNCTION EFFECTIVELY AND EFFICIENTLY; AND HAS THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH ARE RESERVED FOR THE BOARD: SELECTION AND TERMINATION OF THE PRESIDENT; ADOPTION OF THE ANNUAL BUDGET; SELECTION AND REMOVAL OF TRUSTEES OR OFFICERS APPOINTED BY THE TRUSTEES; INCURRING OF SUBSTANTIAL INDEBTEDNESS ON BEHALF OF THE COLLEGE; CAPITAL EXPENDITURES THAT REQUIRE APPROVAL BY THE BOARD UNDER APPLICABLE BOARD OF TRUSTEES POLICY; RELOCATION OF THE COLLEGE OR MAJOR DECISIONS PERTAINING TO THE PRINCIPAL OFFICE OF THE COLLEGE; AND ANY ACTIONS WHICH REQUIRE BY LAW THE VOTE OF THE BOARD,INCLUDING AMENDMENT OF THE ARTICLES OF ORGANIZATION OR THE BYLAWS; MERGER OR CONSOLIDATION OF THE COLLEGE; DISSOLUTION OF THE COLLEGE; OR THE INITIATION OF BANKRUPTCY PROCEEDINGS. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS PREPARED AND REVIEWED BY A NATIONAL ACCOUNTING FIRM USING INFORMATION PROVIDED BY THE CONTROLLER. THE FORM IS SUBSEQUENTLY REVIEWED BY THE ASSISTANT CONTROLLER AND VP OF FINANCE AND ADMINISTRATION, AS WELL AS THE PRESIDENT. PRIOR TO FILING, A COPY OF FORM 990 WAS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE USES A CONFLICT OF INTEREST DISCLOSURE FORM TO MONITOR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. ANNUALLY, OFFICERS AND DIRECTORS ARE REQUIRED TO COMPLETE THE DISCLOSURE FORM. THE PROCESS IS ADMINISTERED BY THE TRUSTEES AND GOVERNANCE COMMITTEE WITH ASSISTANCE FROM THE OFFICE OF THE PRESIDENT. EFFECTIVE IMPLEMENTATION OF THIS POLICY REQUIRES, FIRST, THE FULL DISCLOSURE OF INDIVIDUAL INTERESTS THAT MIGHT CONFLICT WITH THE BEST INTERESTS OF THE COLLEGE. SECOND, THE TRUSTEES, OFFICERS, EMPLOYEES, AND OTHER REPRESENTATIVES WHO HAVE DISCLOSED A POTENTIAL CONFLICT OF INTEREST SHALL REFRAIN FROM PARTICIPATING IN THE COLLEGE'S CONSIDERATION OF ANY PROPOSED BUSINESS OR FINANCIAL RELATIONSHIP IN WHICH HE OR SHE IS INTERESTED, EXCEPT TO RESPOND TO QUESTIONS OR TO PROVIDE FURTHER INFORMATION. IF A TRANSACTION OR RELATIONSHIP REQUIRES A VOTE, THE INTERESTED PARTY SHOULD NOT BE PRESENT AT THE TIME OF THE VOTE. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE. WHEN DETERMINING THE PRESIDENT'S COMPENSATION, HUMAN RESOURCES PROVIDES A COMPENSATION ANALYSIS FOR SIMILARLY SITUATED PRESIDENTIAL SALARIES. A WRITTEN CONTRACT IS NEGOTIATED AND THE EMPLOYMENT AND COMPENSATION PACKAGE IS THEN APPROVED BY THE BOARD OF TRUSTEES. AVAILABILITY OF FORM 990 FOR PUBLIC INSPECTION FORM 990, PART VI, SECTION C, LINE 18 CAMBRIDGE COLLEGE'S FORM 990 IS AVAILABLE VIA REQUEST FROM THE COLLEGE. THE FORM 990 IS ALSO AVAILABLE ONLINE FROM GUIDESTAR, THE MASSACHSUETT'S ATTORNEY GENERAL'S OFFICE AND OTHER SUCH SOURCES. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, SECTION C, LINE 19 CAMBRIDGE COLLEGE MAKES AVAILABLE COPIES OF ITS BY-LAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON REQUEST. RECONCILIATION OF NET ASSETS AND FUND BALANCES FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT $(22,200)