2019-12-02T16:57:31-06:00 2019-06-30 043077056 MOODY FAMIGLIETTI & ANDRONICO LLP 1 HIGHWOOD DRIVE TEWKSBURY MA 01876 990 2018-07-01 474425987 COLLEGE FOR SOCIAL INNOVATION INC COLL 6179100071 89 SOUTH STREET NO 407 BOSTON MA 02111 ERIC SCHWARZ CHIEF EXECUTIVE OFFICER 6179100071 2019-12-02 1 MATTHEW KALIL CPA MBA P01517069 9785575300 2019-12-02 64.27.39.203 2019-12-02 13:25:21 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4141E4A5C25AD619B9DECADFBF31C872A80AFA19 2018 2020-03-31 21:24:44Z ERIC SCHWARZ 89 SOUTH STREET NO 407 BOSTON MA 02111 1318248 0 X COLLEGEFORSOCIALINNOVATION.ORG X 2015 MA TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 7 6 37 131 0 0 1746653 536016 772618 782198 27 34 0 0 2519298 1318248 0 0 0 0 869968 1130187 0 0 143231 727445 747257 1597413 1877444 921885 -559196 1282400 768672 83442 128910 1198958 639762 X TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 0 0 1310376 782198 COLLEGE FOR SOCIAL INNOVATION (CFSI) IS A NEW COLLEGE PARTNERSHIP MODEL WITH A MISSION OF EDUCATING AND INSPIRING THE NEXT GENERATION OF PROBLEM SOLVERS. OUR MODEL PROVIDES OPPORTUNITIES FOR DIVERSE COHORTS OF COLLEGE STUDENTS TO EARN A FULL SEMESTER OF CREDIT FOR WELL-SUPPORTED FELLOWSHIPS IN NON-PROFITS, THE PUBLIC SECTOR, AND SOCIAL MISSION BUSINESSES. STUDENTS LEARN THROUGH ACTIVE MENTORING, JOB-RELATED ASSIGNMENTS, AND RELATED SEMINARS AND REFLECTION ACTIVITIES, ALL OF WHICH WILL HELP THEM BUILD CAREER-BASED COMPETENCIES, SOCIAL AND EMOTIONAL SKILLS AND NETWORK. STUDENTS SERVE FOUR DAYS A WEEK WITH HOST ORGANIZATIONS, WORKING UNDER A DEDICATED MENTOR, AND WILL ALSO PARTICIPATE IN A FOUNDATION COURSE OFFERED ONE EVENING, "THE SOCIAL INNOVATOR'S TOOL BOX, AND ENGAGE IN A SKILL-BUILDING AND REFLECTIVE COURSE ON FRIDAYS CALLED "BECOMING A PROBLEM SOLVER." PARTICIPATING STUDENTS EARN A FULL 16 CREDITS FROM THEIR HOME COLLEGE (OR EQUIVALENT) WITH NO ADDITIONAL TUITION OR FEES. HOST ORGANIZATIONS ARE ABLE TO INVEST IN FUTURE TALENT THROUGH THE OPPORTUNITY TO MENTOR AND DEVELOP A STUDENT FELLOW. OUR LONG-TERM GOAL IS TO CREATE A BIGGER, BETTER, AND MORE DIVERSE TALENT PIPELINE FOR THE SOCIAL SECTOR.AFTER SERVING 89 STUDENTS IN THE FIRST TWO YEARS OF THE PROGRAM, WE HOSTED 53 STUDENTS IN FY19 - 33 STUDENTS IN THE SPRING SEMESTER REPRESENTED THE LARGEST COHORT YET. TO DATE, WE HAVE PARTNERED WITH 88 UNIQUE HOST ORGANIZATIONS (NON-PROFITS, GOVERNMENT AGENCIES, AND SOCIAL MISSION BUSINESSES) AND 56% OF ORGANIZATIONS REPORTED THEY WOULD HIRE THEIR FELLOW IN A HEARTBEAT. FURTHERMORE, 86% OF STUDENTS WHO COMPLETED THE PROGRAM GAINED A BETTER UNDERSTANDING OF SOCIAL PROBLEMS, 92% OF STUDENTS GAINED MORE SKILLS SUCH AS PUBLIC SPEAKING AND HUMAN CENTERED DESIGN, AND 90% OF STUDENTS REPORTED THEY EXPANDED THEIR NETWORK. WE ARE EXCITED BY THE EXPANSION OF OUR UNIVERSITY PARTNERS TO INCLUDE 5 NEW SCHOOLS (UNIVERSITY OF VERMONT, UMASS AMHERST, UMASS DARTMOUTH, SOUTHERN NEW HAMPSHIRE UNIVERSITY, AND COLBY COLLEGE) BRINGING OUR TOTAL PARTNER SCHOOLS TO 13 MAKING OUR PROGRAM MORE ACCESSIBLE FOR STUDENTS AT COLLEGES ACROSS THE REGION AND COUNTRY TO PARTICIPATE IN A LIFE-CHANGING SEMESTER AND RECEIVE FULL ACADEMIC CREDIT. WE ALSO CONTINUE TO GROW A SUSTAINABLE ORGANIZATION BY RAISING IN FY19 MORE THAN $1,100,000 IN PHILANTHROPIC GIVING AND $780,000 IN EARNED REVENUE (FEES FROM COLLEGE AND HOST ORGANIZATIONS AND FROM STUDENTS TO COVER HOUSING COSTS), MOVING US A STEP TOWARD OUR GOAL OF FULLY COVERING OPERATING COSTS THROUGH EARNED REVENUE. 1310376 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 37 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 MA X THE ORGANIZATION 6179100071 89 SOUTH STREET NO 407 BOSTON MA 02111 TULAINE MONTGOMERY DIRECTOR 5.00 X 0 0 0 BECKY LEVIN DIRECTOR 5.00 X 0 0 0 LISA BUTLER DIRECTOR (SINCE JAN 2019) 5.00 X 0 0 0 JAMES ATWOOD DIRECTOR (SINCE MAY 2019) 5.00 X 0 0 0 ADRIA GOODSON DIRECTOR (SINCE MAY 2019) 5.00 X 0 0 0 TOM CRAIG TREASURER 5.00 X X 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 40.00 X X 250185 0 17518 ILA SHAH MANAGING DIRECTOR 40.00 X X 84083 0 0 334268 0 17518 1 0 1 0 0 536016 536016 PROGRAM SERVICE FEES 611310 782198 782198 782198 34 34 1318248 782198 0 34 337269 250388 33726 53155 642568 446245 133366 62957 73781 52671 13960 7150 76569 54454 13158 8957 13300 13300 32792 7515 25277 15587 13324 2227 36 44279 24893 19142 244 46544 35753 4994 5797 80693 69034 8384 3275 11827 8870 2957 16630 13147 1823 1660 STUDENT HOUSING 454120 302747 151373 PROGRAM STUDENT COSTS 31335 31335 BAD DEBT 150 150 1877444 1310376 423837 143231 99208 54841 223794 180293 858845 440281 3200 2863 67982 69239 49263 28108 29371 21155 1282400 768672 50729 84308 32713 44602 83442 128910 X 201113 208079 997845 431683 1198958 639762 1282400 768672 -559196 0 X X 0 1 X 1 0 X 1262231 598562 1746653 536016 4143462 536486 772618 782198 2091302 1262231 1135048 2519271 1318214 6234764 25184 160473 9497 69652 264806 0 25184 160473 9497 69652 264806 5969958 12 29 27 34 102 12 29 27 34 102 1262243 1135077 2519298 1318248 6234866 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 49263 28108 21155 21155 X 1338900 20652 20652 1318248 0 1318248 1898096 20652 20652 1877444 0 1877444 PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON TRADE OR BUSINESS PROFITS GENERATED BY ACTIVITIES RELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. THE ORGANIZATION MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES FOR PROFITS GENERATED FROM TRADE OR BUSINESS ACTIVITIES UNRELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. AS OF JUNE 30, 2019, MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS NOT GENERATED ANY UNRELATED BUSINESS TAXABLE INCOME. THE ORGANIZATION ASSESSES THE RECORDING OF UNCERTAIN TAX POSITIONS BY EVALUATING THE MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT REQUIREMENTS A TAX POSITION MUST MEET BEFORE BEING RECOGNIZED AS A BENEFIT IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNCERTAIN TAX POSITIONS AS A COMPONENT OF INCOME TAX EXPENSE, IF ANY, IN ITS STATEMENT OF ACTIVITIES. X X X 0 0 0 0 0 0 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 250185 0 0 0 0 0 0 0 17518 0 267703 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FULL 990 IS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ONCE EACH CALENDAR YEAR, EMPLOYEES, BOARD MEMBERS AND ANYONE WITH FIDUCIARY DUTIES WITHIN THE ORGANIZATION THAT CAN INFLUENCE ACTIONS OF THE COLLEGE FOR SOCIAL INNOVATION (CFSI) MUST DISCLOSE POTENTIAL CONFLICT THAT MIGHT ARISE BETWEEN CFSI AND ANY POTENTIAL AREAS. FORM 990, PART VI, SECTION B, LINE 15 FOUNDING CEO ERIC SCHWARZ AND THE TWO OTHER FOUNDING MEMBERS OF THE BOARD PUT SOME CAREFUL THOUGHT INTO STARTING COMPENSATION FOR SCHWARZ, AN ACCOMPLISHED SOCIAL ENTREPRENEUR WITH APPROXIMATELY 30 YEARS OF RELEVANT EXPERIENCE. TAKEN INTO ACCOUNT WERE SEVERAL FACTORS, INCLUDING: -SCHWARZ'S PAST EXPERIENCE AND COMPENSATION AS A SOCIAL SECTOR LEADER -SCHWARZ'S LEADERSHIP AS A FULL-TIME UNCOMPENSATED VOLUNTEER FOR NINE MONTHS (LATE 2014 TO AUGUST 2015) DEVELOPING THE COLLEGE FOR SOCIAL INNOVATION IDEA AND BUSINESS PLAN -INFORMAL BENCHMARKS OF OTHER SOCIAL ENTREPRENEURS WITH TWO TO THREE DECADES OF RELEVANT EXECUTIVE EXPERIENCE STARTING NEW SOCIAL SECTOR ORGANIZATIONS -INFORMAL BENCHMARKING OF CEO COMPENSATION FOR NEW ENTREPRENEURIAL VENTURES IN THE HIGHER EDUCATION WORLD BASED ON THIS INFORMAL BENCHMARKING AND SCHWARZ'S PAST COMPENSATION AND EXPERIENCE, SCHWARZ PROPOSED A SALARY THAT WAS A 10% REDUCTION FROM HIS COMPENSATION AT CITIZEN SCHOOLS AND COMMITTED TO TAKE NO COLA OR MERIT RAISE FOR AT LEAST TWO YEARS AS THE ORGANIZATION SCALED FROM START-UP TO AN ANTICIPATED BUDGET OF APPROXIMATELY $3 MILLION IN FY18, THE ORGANIZATION'S THIRD YEAR OF OPERATIONS. OUTSIDE BOARD MEMBERS TOM CRAIG AND TULAINE MONTGOMERY DISCUSSED THE SALARY AND APPROVED IT AS PART OF APPROVING THE ORGANIZATION'S FY16 BUDGET. PRIOR TO ANY FUTURE CHANGES TO THE COMPENSATION, COLLEGE FOR SOCIAL INNOVATION PLANS TO CREATE A FORMAL FINANCE AND BUDGET COMMITTEE CHARGED WITH, AMONG OTHER THINGS, REVIEWING AND APPROVING EXECUTIVE COMPENSATION, BASED ON PERFORMANCE AND INDUSTRY NORMS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT FOR THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED DURING THE YEAR.