2020-07-15T09:31:23-05:00 2019-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2018-07-01 042452884 NEWBURY COLLEGE INC NEWB 6177307000 1309 BEACON STREET NO 300 BROOKLINE MA 02446 JOYCE HANLON CHIEF TRANSITION OFFICER 6177307000 2020-07-15 1 STEVEN J COHEN P00747146 6174711120 2020-07-15 108.7.66.186 2020-07-15 09:37:14 ED P FC66FA2F6FAA92178A632FCD7B72B584BEC644E9 196E4BB9757308F46869DDCA5741194DAE81A63C 2018 2021-01-29 14:40:06Z X JOYCE HANLON 1309 BEACON STREET SUITE 300 BROOKLINE MA 02446 24344321 0 X WWW.NEWBURY.EDU X 1968 MA NEWBURY COLLEGE ENGAGES STUDENTS IN A CAREER-FOCUSED EDUCATION, GROUNDED IN THE LIBERAL ARTS, WITHIN A DIVERSE AND DYNAMIC LEARNING COMMUNITY.THE COLLEGE MENTORS STUDENTS TO BECOME PROFESSIONALLY COMPETENT, ETHICALLY AWARE, SOCIALLY RESPONSIBLE, AND PREPARED FOR LIFELONG LEARNING.COMMITTED TO PERSONALIZED AND EXPERIENCE-BASED TEACHING, NEWBURY COLLEGE INSPIRES STUDENTS TO BECOME INDEPENDENT THINKERS, VALUABLE COLLABORATORS, AND GLOBAL MINDED CITIZENS. X 11 11 300 0 0 0 529732 549970 23277303 22888446 204143 -40535 6136 -16441 24017314 23381440 10912794 11070256 0 0 7098884 6269346 0 0 0 13201297 13558307 31212975 30897909 -7195661 -7516469 18185875 13948014 14503023 17781631 3682852 -3833617 X NEWBURY COLLEGE IS A CHALLENGING UNDERGRADUATE EXPERIENCE DESIGNED TO ENGAGE STUDENTS IN A CAREER-FOCUSED EDUCATION. WHETHER THE GOAL IS CHOOSING THE RIGHT MAJOR, TRAINING FOR A SPECIFIC PROFESSION, OR PREPARING FOR GRADUATE SCHOOL, NEWBURY MENTORS STUDENTS TO BE SUCCESSFUL IN THEIR CHOSEN CAREER. WITH SMALL CLASSES, FACULTY ENCOURAGE DEBATE AND DISCUSSION IN A LIBERAL ARTS TRADITION THAT STRENGTHENS PROBLEM SOLVING AND CRITICAL THINKING ABILITY. INTERNSHIPS BRING STUDENTS FACE TO FACE WITH BOSTON'S BUSINESS LEADERS AND PROVIDE EXTENSIVE WORLD EXPERIENCE. 0 1 11070256 11070256 10741653 STUDENT FINANCIAL AID 5010144 4560548 INSTRUCTIONAL 4524042 4106270 STUDENT SERVICES 3819291 3479975 INSTITUTIONAL SUPPORT 3819291 3479975 24423733 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 18 0 1 300 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X JOYCE HANLON CHIEF TRANSITION OFFICER 6177307066 1309 BEACON STREET SUITE 300 BROOKLINE MA 024455796 B NEAL HARRIS III PHD VICE CHAIR 1.00 X X 0 0 0 MARGARET WINSLOW CHAIR 1.00 X X 0 0 0 LEO M FONSECA JR TRUSTEE 1.00 X 0 0 0 NORMAN A LEVENSON TRUSTEE 1.00 X 0 0 0 KYLE C MURPHY TRUSTEE 1.00 X 0 0 0 GERALD RICHARDS TRUSTEE 1.00 X 0 0 0 JOHN MACONGA TRUSTEE 1.00 X 0 0 0 JEAN PHILIPPE ROLLET TRUSTEE 1.00 X 0 0 0 RAYMOND WITKOWSKI TRUSTEE 1.00 X 0 0 0 STEPHEN KING TRUSTEE 1.00 X 0 0 0 DANIEL LEBOWITZ TRUSTEE 1.00 X 0 0 0 JOSEPH L CHILLO LPD FORMER PRESIDENT 37.50 X 340000 0 858 LYSA TEAL FORMER VP OF ADMIN & FINANCE 37.50 X 170000 0 858 PAUL MARTIN FORMER VP & CHIEF OF STAFF 37.50 X 122500 0 9229 MARY C MCCULLY FORMER VP OF DEVELOPMENT 37.50 X 142703 0 8970 PAUL VACCARO FORMER VP OF ENROLLMENT MANAGEMENT 37.50 X 135000 0 21362 910203 0 41277 5 1 1 0 ARAMARK CORPORATION 525 MONROE STREET CHICAGO IL 60661 DINING SERVICES 1105890 PINE MANOR COLLEGE 400 HEATH ST CHESTNUT HILL MA 02467 HOUSING 791000 LONGWOOD SECURITY SERVICES 429 NEWBURY STREET BOSTON MA 02115 SECURITY SERVICES 786652 ARAMARK HIGHER ED FACILITIES 525 MONROE STREET CHICAGO IL 60661 MAINTENANCE SERVICES 731042 B&B LODGING HOUSES LLC 1047 BEACON STREET BROOKLINE MA 02446 STUDENT HOUSING 701484 5 549970 549970 EDUCATIONAL & GENERAL 611710 19408471 19408471 AUXILIARY ENTERPRISES 611710 3479975 3479975 22888446 16964 16964 874666 932165 -57499 -57499 -57499 14275 30716 -16441 -16441 23381440 22888446 0 -56976 11070256 11070256 891208 712966 178242 4526582 3355254 1171328 473755 335287 138468 377801 283351 94450 691909 691909 130595 130595 1997278 1803898 193380 270606 270606 186425 156569 29856 439893 219947 219946 2084574 2084574 39587 36344 3243 21138 20523 615 409222 239547 169675 547168 528458 18710 637033 240009 397024 STUDENT FOOD/CATERING 2238458 2231833 6625 BAD DEBT EXPENSE 1566668 90000 1476668 LOSS ON SALE OF PROPERT 1343825 1343825 RENTAL AND MAINTENANCE 304005 295703 8302 649923 448608 201315 30897909 24423733 6474176 0 432278 776784 194623 116441 1623285 0 204306 204306 21274889 8643241 14450070 12631648 874666 0 406647 218835 18185875 13948014 3557680 4453463 292739 0 5012848 4875236 5422174 8427266 217582 25666 14503023 17781631 X 3117052 -3873908 65800 40291 500000 0 3682852 -3833617 18185875 13948014 -7516469 0 X 0 0 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 574354 574354 549250 25104 574354 494226 55024 549250 495220 -994 494226 500000 -4780 495220 0.00000 0.00000 0.00000 0 0 2063000 2063000 19211889 8643241 10568648 12631648 DOE NOTE PAYABLE 25666 25666 X PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE SCHOLARSHIP FUNDS AND THE PROGRAMS OF THE COLLEGE. PART X, LINE 2: NEWBURY COLLEGE, INC. HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE COLLEGE HAS IDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS MORE THAN LIKELY NOT SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NEWBURY COLLEGE, A NON-PROFIT ORGANIZATION EXEMPT FROM STATE AND FEDERAL TAXES, ADMITS STUDENTS OF ANY AGE, RACE, COLOR, SEXUAL ORIENTATION AND NATIONAL OR ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS OF THE COLLEGE. IT DOES NOT DISCRIMINATE ON THE BASIS OF AGE, RACE, COLOR SEX, SEXUAL ORIENTATION, RELIGION OR CREED, NATIONAL OR ETHNIC ORIGIN, OR NON DISQUALIFYING HANDICAP IN THE ADMINISTRATION AND LOAN PROGRAMS, ATHLETIC AND OTHER COLLEGE ADMINISTERED PROGRAMS, AND IN ITS EMPLOYMENT POLICIES. ANY INQUIRES OR GRIEVANCES CONCERNING THESE REGULATIONS MAY BE DIRECTED TO THE CHIEF TRANSITION OFFICER, NEWBURY COLLEGE, 1309 BEACON ST, SUITE 300, BROOKLINE, MA 02446, (617) 730-7066 AND/OR DIRECTOR OF THE OFFICE OF CIVIL RIGHTS, US DEPARTMENT OF EDUCATION. SCHEDULE E, PART I, LINE 6 FINANCIAL AID FUNDS ARE AWARDED ANNUALLY BY THE US DEPARTMENT OF EDUCATION UNDER EQUITY NUMBER 10424528841. AWARDS INCLUDE FUNDING GRANTS FOR PELL, PERKINS, SEOG, AND CWSP PROGRAMS. THE COLLEGE HAS A DETAILED LIST OF CRITERIA FOR STUDENTS COLLECTING FINANCIAL AID. GOLF TOURNAMENT 14275 14275 22040 5177 3499 14275 14275 22040 5177 3499 30716 -16441 1 FINANCIAL AID 497 11070256 SCHEDULE I, PART I, LINE 2 THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY AND CHECKING COMPLIANCE WITH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT EXPENSE FALLS WITHIN THE REQUIRED CATEGORIES AND BUDGET AMOUNTS. THE COLLEGE SETS UP A SEPARATE GENERAL LEDGER ACCOUNT FOR EACH GRANT THAT IS RECEIVED IN ORDER TO PROVIDE COMPLETE DOCUMENTATION AND TRACK EXPENSES. X X X 0 0 0 0 0 0 0 0 0 JOSEPH L CHILLO LPD FORMER PRESIDENT 325000 0 0 0 15000 0 0 0 858 0 340858 0 0 0 LYSA TEAL FORMER VP OF ADMIN & FINANCE 170000 0 0 0 0 0 0 0 858 0 170858 0 0 0 PAUL MARTIN FORMER VP & CHIEF OF STAFF 122500 0 0 0 0 0 0 0 9229 0 131729 0 0 0 MARY C MCCULLY FORMER VP OF DEVELOPMENT 142703 0 0 0 0 0 0 0 8970 0 151673 0 0 0 PAUL VACCARO FORMER VP OF ENROLLMENT MANAGEMENT 135000 0 0 0 0 0 0 0 21362 0 156362 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RP66 2009-10-01 10250000 TO FURTHER FULFILL THE COLLEGE'S MISSION 0 0 0 A 10064494 185506 9950000 114494 1996 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 THE COLLEGE SOLD ITS EQUIPMENT AND FIXTURES WITH A NBV OF $1,501,618 TO THE PUBLIC FOR $230,898. 2019-06-30 230898 PROCEEDS RECEIVED FOR DISPOSAL OF EQUIPMENT AND FIXTURES VARIOUS - VARIOUS ADDRESSES 1309 BEACON STREET BROOKLINE MA 02446 0 0 0 0 0 0 0 0 0 PART I, LINE 3: NEWBURY COLLEGE CEASED ACADEMIC OPERATIONS ON MAY 12, 2019. THE COLLEGE CONTRACTED WITH A REAL ESTATE BROKER TO ASSIST IN THE SELLING OF THE LAND AND BUILDING. THE LAND AND BUILDING WERE SOLD TO AN UNRELATED THIRD PARTY DURING FISCAL YEAR 2020. FORM 990, PART III, LINE 3 ON DECEMBER 7, 2018, THE BOARD OF TRUSTEES VOTED TO CEASE ACADEMIC OPERATIONS AT THE COMPLETION OF THE 2018-2019 ACADEMIC YEAR. MAY 12, 2019 WAS THE COLLEGE'S OFFICIAL LAST DAY OF CLASSES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS WILL REVIEW THE 990 FOR ACCURACY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY B. HAS READ AND UNDERSTANDS THE POLICY C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THAT NEWBURY IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD SHALL REVIEW AND APPROVE THE COMPENSATION POLICIES AND PROGRAMS OF PRINCIPAL ADMINISTRATORS. THE POLICY OF THE COLLEGE IS TO PROVIDE DIRECT COMPENSATION PROGRAMS THAT REFLECT THE RELATIVE SIZE AND TYPE OF EDUCATION CURRICULUM OF THE COLLEGE IN THE SEGMENT OF HIGHER EDUCATION INSTITUTIONS OF WHICH IT IS A PART AND WHICH ACCOMPLISH THE COLLEGE'S MISSION AND TAX-EXEMPT PURPOSE WITHOUT CAUSING ANY PART OF THE COLLEGE'S NET EARNINGS TO ENSURE TO THE PRIVATE BENEFIT OF AN INDIVIDUAL OR GROUP OF INDIVIDUALS. THE COMMITTEE WILL ACCOMPLISH THIS POLICY IN THE FOLLOWING MANNER: - DETERMINE THE RELEVANT MARKET DATA FOR THE PRINCIPAL ADMINISTRATOR POSITION IT REVIEWS BY OBTAINING RELIABLE AND COMPARABLE DATA FROM PUBLISHED SURVEYS OF BOTH TAX-EXEMPT AND FOR-PROFIT ORGANIZATIONS FOCUSING ON DATA FROM COMPARABLY ORGANIZED INSTITUTIONS WITH SIMILARLY SIZED BUDGETS. - DEVELOP A TARGET BASE PAY RANGE BUILT OFF THE MEDIAN OF THE MARKET DATA. - SET BASE SALARY BY CONSIDERING BOTH MARKET DATA AND EACH INDIVIDUAL'S BACKGROUND EXPERIENCES, SKILLS, AND MERITORIOUS CONTRIBUTION. - SET SALARY INCREASE REASSESSMENTS BASED ON EXTERNAL EQUITY, INTERNAL EQUITY, AND/OR MERIT. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVALIABLE TO THE PUBLIC UPON REQUEST.