BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY: Form 990, tax year 2017
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- Organization
- BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY (EIN 04-2103576)
- Tax period
- 2017-07-01 to 2018-06-30
- Filed
- 2019-05-15
- IRS object ID
- 201931359349306458
- Schema version
- 2017v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-05-15T12:41:26-05:00 | ReturnTs |
| Tax Period End | 2018-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 263753134 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ MHM LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 BOYLSTON STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103576 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BENJAMIN FRANKLIN INSTITUTE OF | BusinessNameLine1Txt |
| Business Name Line2 | TECHNOLOGY | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BENJ | BusinessNameControlTxt |
| Phone | 6174234630 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 41 BERKELEY STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MAUREEN JOYCE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6174234630 | PhoneNum |
| Signature | 2019-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BRENDA L BOOTH | PreparerPersonNm |
| PTIN | P01342395 | PTIN |
| Phone | 6177610600 | PhoneNum |
| Preparation | 2019-05-15 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 207.172.72.163 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-05-15 | IPDt |
| IP Tm | 09:17:45 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 6EBF32EC077803D5773B28E578504B4367373832 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ANTHONY BENOIT | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 41 BERKELEY STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $16,973,498 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.BFIT.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1913 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY IS AN AFFORDABLE, URBAN COLLEGE SERVING THE BOSTON REGION AND COMMITTED TO STUDENT SUCCESS AND CAREER READINESS IN TECHNOLOGY FIELDS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 16 | VotingMembersIndependentCnt |
| Total Employee | 150 | TotalEmployeeCnt |
| Total Volunteers | 16 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $27,054 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,593,610 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,087,288 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $10,002,422 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $10,971,077 | CYProgramServiceRevenueAmt |
| PY Investment Income | $138,556 | PYInvestmentIncomeAmt |
| CY Investment Income | $60,680 | CYInvestmentIncomeAmt |
| PY Other Revenue | $309,671 | PYOtherRevenueAmt |
| CY Other Revenue | $357,107 | CYOtherRevenueAmt |
| PY Total Revenue | $14,044,259 | PYTotalRevenueAmt |
| CY Total Revenue | $15,476,152 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,800,064 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,637,665 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,354,152 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $8,432,366 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $47,175 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $185,313 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,078,186 | PYOtherExpensesAmt |
| CY Other Expenses | $4,358,522 | CYOtherExpensesAmt |
| PY Total Expenses | $14,232,402 | PYTotalExpensesAmt |
| CY Total Expenses | $15,475,728 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$188,143 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $424 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,294,430 | TotalAssetsBOYAmt |
| Total Assets EOY | $8,251,404 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $4,364,979 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,213,224 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $3,929,451 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,038,180 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY (BFIT) IS AN AFFORDABLE, URBAN COLLEGE SERVING THE BOSTON REGION AND COMMITTED TO STUDENT SUCCESS AND CAREER READINESS IN TECHNOLOGY FIELDS. THROUGH PERSONALIZED SUPPORT, HANDS-ON LEARNING, AND INDUSTRY-INFORMED CURRICULA, BFIT PREPARES GRADUATES FOR WORK, LIFE-LONG LEARNING, AND CITZENSHIP. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $11,394,005 | ExpenseAmt |
| Grant | $2,637,665 | GrantAmt |
| Revenue | $10,971,077 | RevenueAmt |
| Desc | PROVIDING COLLEGE EDUCATION AT THE LEVEL OF CERTIFICATES, ASSOCIATE DEGREES AND BACHELOR'S DEGREES TO A LARGELY UNDERSERVED URBAN POPULATION. IN THE 2017-2018 ACADEMIC YEAR THE INSTITUTE ENROLLED ABOUT 834 STUDENTS, MOSTLY FULL TIME. BFIT STRIVES TO EMPOWER AND INSPIRE EVERY STUDENT TO REACH HIS OR HER FULL POTENTIAL, THROUGH INDUSTRY INFORMED CURRICULA, HANDS-ON LEARNING, AND PERSONALIZED SUPPORT, PRODUCING GRADUATES FULLY PREPARED FOR WORK, LIFE-LONG LEARNING, AND CITZENSHIP. | Desc |
| Total Program Service Expenses | $11,394,005 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (1) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | Yes (1) | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 572 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 150 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 16 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MAUREEN JOYCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6175881363 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 41 BERKELEY STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ANTHONY G BENOIT | |||||||
| PRESIDENT | 35.00 | Yes (X) | $194,000 | $0 | $14,789 | ||
| RYAN HUTCHINS | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JUDY PAGLIUCA | |||||||
| VICE CHAIR | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| MAUREEN POMPEO | |||||||
| ASST. CLERK | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JAKE GROSSMAN | |||||||
| CLERK | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| KEVIN STONE | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DANIEL BONNETTE | |||||||
| TREASURER | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| KAYE FERRITER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID FISCHER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| AMY LEDDY | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER MORSS | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH SHAKER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARISA MELDONIAN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CLAIRE WADINGTON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| RAHUL YARALA | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JED NOSAL | |||||||
| CHAIR | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| ROGER BERMAN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MAUREEN JOYCE | |||||||
| CHIEF FINANCIAL OFFICER | 35.00 | $148,667 | $0 | $455 | Yes (X) | ||
| JACKIE CORNOG | |||||||
| DEAN OF STUDENT AFFAIRS | 35.00 | $107,559 | $0 | $5,742 | Yes (X) | ||
| DAVID PROTANO | |||||||
| DEPT. CHAIR OF AUTO TECH | 35.00 | $115,762 | $0 | $14,789 | Yes (X) | ||
| LARSON ROGERS | |||||||
| DEAN OF FACULTY | 35.00 | $131,506 | $0 | $14,789 | Yes (X) | ||
| TRACEY ARVIN | |||||||
| DEPT CHAIR OF ELECT. TECH | 35.00 | $115,587 | $0 | $5,684 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $813,081 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $56,248 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $472,938 | GovernmentGrantsAmt |
| All Other Contributions | $3,614,350 | AllOtherContributionsAmt |
| Noncash Contributions | $104,575 | NoncashContributionsAmt |
| Total Contributions | $4,087,288 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $10,079,877 | $10,079,877 |
| STUDENT PROVISIONS | 611710 | $793,743 | $793,743 |
| AUXILIARY INCOME | 611710 | $97,457 | $97,457 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $10,971,077 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $58,026 | TotalRevenueColumnAmt |
| Exclusion | $58,026 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $357,107 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $357,107 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $357,107 | TotalRevenueColumnAmt |
| Exclusion | $357,107 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,500,000 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,497,346 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,654 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,654 | TotalRevenueColumnAmt |
| Exclusion | $2,654 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,476,152 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,971,077 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $417,787 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,637,665 | TotalAmt |
| Program Services | $2,637,665 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $305,466 | TotalAmt |
| Program Services | $38,800 | ProgramServicesAmt |
| Management And General | $245,844 | ManagementAndGeneralAmt |
| Fundraising | $20,822 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,547,627 | TotalAmt |
| Program Services | $5,339,644 | ProgramServicesAmt |
| Management And General | $1,130,383 | ManagementAndGeneralAmt |
| Fundraising | $77,600 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $393,639 | TotalAmt |
| Program Services | $307,729 | ProgramServicesAmt |
| Management And General | $78,069 | ManagementAndGeneralAmt |
| Fundraising | $7,841 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $696,065 | TotalAmt |
| Program Services | $459,791 | ProgramServicesAmt |
| Management And General | $230,757 | ManagementAndGeneralAmt |
| Fundraising | $5,517 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $489,569 | TotalAmt |
| Program Services | $390,132 | ProgramServicesAmt |
| Management And General | $92,414 | ManagementAndGeneralAmt |
| Fundraising | $7,023 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,476 | TotalAmt |
| Management And General | $125,476 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,000 | TotalAmt |
| Management And General | $62,000 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,175 | TotalAmt |
| Fundraising | $47,175 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,703 | TotalAmt |
| Management And General | $28,703 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $791,414 | TotalAmt |
| Program Services | $389,680 | ProgramServicesAmt |
| Management And General | $399,350 | ManagementAndGeneralAmt |
| Fundraising | $2,384 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $563,315 | TotalAmt |
| Program Services | $48,280 | ProgramServicesAmt |
| Management And General | $515,035 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,627 | TotalAmt |
| Management And General | $18,627 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $190,898 | TotalAmt |
| Program Services | $168,080 | ProgramServicesAmt |
| Management And General | $17,914 | ManagementAndGeneralAmt |
| Fundraising | $4,904 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,230 | TotalAmt |
| Program Services | $14,749 | ProgramServicesAmt |
| Management And General | $423 | ManagementAndGeneralAmt |
| Fundraising | $58 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,379 | TotalAmt |
| Program Services | $13,417 | ProgramServicesAmt |
| Management And General | $3,627 | ManagementAndGeneralAmt |
| Fundraising | $335 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,042 | TotalAmt |
| Program Services | $1,218 | ProgramServicesAmt |
| Management And General | $164,824 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $387,153 | TotalAmt |
| Management And General | $387,153 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,323 | TotalAmt |
| Program Services | $500 | ProgramServicesAmt |
| Management And General | $131,823 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| STUDENT PROVISIONS | $635,406 | $634,906 | $500 |
| UTILITIES | $266,265 | $159 | $266,106 |
| EQUIPMENT RENTAL AND MA | $229,095 | $118,594 | $110,501 |
| BANK FEES | $211,718 | $466,152 | -$254,434 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $517,478 | TotalAmt |
| Program Services | $364,509 | ProgramServicesAmt |
| Management And General | $141,315 | ManagementAndGeneralAmt |
| Fundraising | $11,654 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,475,728 | TotalAmt |
| Program Services | $11,394,005 | ProgramServicesAmt |
| Management And General | $3,896,410 | ManagementAndGeneralAmt |
| Fundraising | $185,313 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $679,912 | BOYAmt |
| EOY | $156,401 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $802,295 | BOYAmt |
| EOY | $2,411,861 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $523,177 | BOYAmt |
| EOY | $645,360 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,954 | BOYAmt |
| EOY | $182,793 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $9,781,300 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,302,121 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,677,743 | BOYAmt |
| EOY | $2,479,179 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,508,717 | BOYAmt |
| EOY | $2,343,178 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,632 | BOYAmt |
| EOY | $32,632 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,294,430 | BOYAmt |
| EOY | $8,251,404 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,190,124 | BOYAmt |
| EOY | $993,208 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $182,000 | BOYAmt |
| EOY | $325,077 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,992,855 | BOYAmt |
| EOY | $2,894,939 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,364,979 | BOYAmt |
| EOY | $4,213,224 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$1,141,887 | BOYAmt |
| EOY | -$2,818,807 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,852,295 | BOYAmt |
| EOY | $3,637,944 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,219,043 | BOYAmt |
| EOY | $3,219,043 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,929,451 | BOYAmt |
| EOY | $4,038,180 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,294,430 | BOYAmt |
| EOY | $8,251,404 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $424 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $302,484 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$194,179 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,579,503 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,847,149 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,996,577 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,593,610 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,087,288 | CurrentTaxYearAmt |
| Total | $14,104,127 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,579,503 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,847,149 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,996,577 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,593,610 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,087,288 | CurrentTaxYearAmt |
| Total | $14,104,127 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $4,984,463 | SubstantialContributorsTotAmt |
| Public Support Total170 | $9,119,664 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $85,602 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $88,385 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $295,601 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $373,080 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $415,133 | CurrentTaxYearAmt |
| Total | $1,257,801 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $15,361,928 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $50,482,034 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.59370 | PublicSupportCY170Pct |
| Public Support PY170 | 0.66340 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE A, PART I, LINE 7: | FormAndLineReferenceDesc |
| Explanation | THE BASIS OF BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY'S PUBLIC CHARITY STATUS HAS BEEN AND CONTINUES TO BE ITS QUALIFICATION AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). THE ORGANZIATION HAS CHECKED BOX 7 ON SCHEDULE A, PART I AND COMPLETED SCHEDULE A, PART II IN ORDER TO DEMONSTRATE ITS QUALIFICATION TO FOLLOW THE SPECIAL RULE FOR ABBREVIATED REPORTING OF CONTRIBUTIONS ON FORM 990, SCHEDULE B. | ExplanationTxt |
Schedule B IRS990ScheduleB
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,508,717 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $334,461 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,500,000 | OtherExpendituresAmt |
| End Year Balance | $2,343,178 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,152,045 | BeginningYearBalanceAmt |
| Contributions | $111,300 | ContributionsAmt |
| Investment Earnings Or Losses | $400,370 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $579,594 | GrantsOrScholarshipsAmt |
| Other Expenditures | $575,404 | OtherExpendituresAmt |
| End Year Balance | $3,508,717 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,818,978 | BeginningYearBalanceAmt |
| Contributions | $93,250 | ContributionsAmt |
| Investment Earnings Or Losses | -$183,452 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $77,457 | GrantsOrScholarshipsAmt |
| Other Expenditures | $499,274 | OtherExpendituresAmt |
| End Year Balance | $4,152,045 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,636,591 | BeginningYearBalanceAmt |
| Contributions | $2,000 | ContributionsAmt |
| Investment Earnings Or Losses | $264,509 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $65,565 | GrantsOrScholarshipsAmt |
| Other Expenditures | $18,557 | OtherExpendituresAmt |
| End Year Balance | $4,818,978 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,787,171 | BeginningYearBalanceAmt |
| Contributions | $77,450 | ContributionsAmt |
| Investment Earnings Or Losses | $829,575 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $39,409 | GrantsOrScholarshipsAmt |
| Other Expenditures | $18,557 | OtherExpendituresAmt |
| End Year Balance | $4,636,590 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.13540 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.73360 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.13100 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $726,832 | OtherCostOrOtherBasisAmt |
| Book Value | $726,832 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,181,180 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,181,180 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,706,135 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,462,012 | DepreciationAmt |
| Book Value | $1,244,123 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,167,153 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,658,929 | DepreciationAmt |
| Book Value | $508,224 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,479,179 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $13,112,268 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $302,484 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $302,484 | RevenueNotReportedAmt |
| Revenue Subtotal | $12,809,784 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $28,703 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $2,637,665 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,666,368 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $15,476,152 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $13,003,539 | TotExpnsEtcAuditedFinclStmtAmt |
| Prior Year Adjustments | $194,179 | PriorYearAdjustmentsAmt |
| Expenses Not Reported | $194,179 | ExpensesNotReportedAmt |
| Expenses Subtotal | $12,809,360 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $28,703 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $2,637,665 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,666,368 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $15,475,728 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE INSTITUTE HAS NUMEROUS DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED TO FURTHER ITS EDUCATIONAL MISSION. |
| PART X, LINE 2: | THE INSTITUTE ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE INSTITUTE HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AND ITS DETERMINATIONS OF WHICH INCOME ITEMS ARE RELATED OR UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE INSTITUTE HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE INSTITUTE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS AND CONSIDERS FURTHER TAX DISCLOSURES AS NOT SIGNIFICANT. THE INSTITUTE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 2,637,665. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 2,637,665. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE INFORMATION IS MAINTAINED ON THE COLLEGE'S WEBSITE, IN THE CATALOG, AND IN THE STUDENT HANDBOOK. |
| SCHEDULE E, PART I, LINE 6 | THE INSTITUTE RECEIVES FEDERAL GOVERNMENT FUNDS (TITLE IV) TO BE USED IN THE STUDENT FINANCIAL AID PROGRAM. THE FUNDS RECEIVED INCLUDE PELL GRANTS, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY AND PARTICIPATION IN THE FEDERAL DIRECT LOAN PROGRAMS (SUBSIDIZED STAFFORD, UNSUBSIDIZED STAFFORD, PARENT PLUS LOANS). ALL GRANTS ARE REVIEWED, EVALUATED AND REPORTED (A-133) BY THE INSTITUTE'S INDEPENDENT AUDITOR, MAYER HOFFMAN MCCANN PC. |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | Yes (X) | MailSolicitationsInd |
| Email Solicitations | Yes (X) | EmailSolicitationsInd |
| Phone Solicitations | Yes (X) | PhoneSolicitationsInd |
| In Person Solicitations | Yes (X) | InPersonSolicitationsInd |
| Solicitation Of Non Govt Grants | Yes (X) | SolicitationOfNonGovtGrantsInd |
| Solicitation Of Govt Grants | Yes (X) | SolicitationOfGovtGrantsInd |
| Special Fundraising Events | Yes (X) | SpecialFundraisingEventsInd |
| Agrmt Prof Fundraising Acty | 0 | AgrmtProfFundraisingActyInd |
Fundraiser Activity Info FundraiserActivityInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HERB TOBIN | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 297 MARKED TREE ROAD | AddressLine1Txt |
| City | NEEDHAM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02492 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTING | ActivityTxt |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFundsInd |
| Gross Receipts | $0 | GrossReceiptsAmt |
| Retained By Contractor | $43,425 | RetainedByContractorAmt |
| Net To Organization | -$43,425 | NetToOrganizationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | $43,425 | TotalRetainedByContractorsAmt |
| Total Net To Organization | -$43,425 | TotalNetToOrganizationAmt |
| Licensed States | MA | LicensedStatesCd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS FOR STUDENTS | GrantTypeTxt |
| Recipient | 702 | RecipientCnt |
| Non Cash Assistance | $2,637,665 | NonCashAssistanceAmt |
| Valuation Method Used | FMV | ValuationMethodUsedDesc |
| Non Cash Assistance | REDUCTION OF STUDENT ACCOUNT | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | THE INSTITUTE MAINTAINS DETAILED RECORDS IN THE STUDENT INFORMATION SYSTEM DATABASE OF ALL SCHOLARSHIPS AWARDED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANTHONY G BENOIT | PersonNm |
| Title | PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $194,000 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $14,789 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $208,789 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 4 | ContributionCnt |
| Noncash Contributions Rpt F990 | $104,575 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE AMOUNT REPORTED ON SCHEDULE M PART I COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE AND PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 12C | TRUSTEES ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST DISCLOSURE ANNUALLY AND REPORT CONFLICTS IMMEDIATELY SHOULD THEY DEVELOP DURING THE YEAR. CONFLICT OF INTEREST DISCLOSURES ARE REVIEWED BY THE CHAIR OF THE GOVERNANCE COMMITTEE, AS AUTHROIZED BY THE BOARD OF TRUSTEES IS RESPONSIBLE FOR RESOLUTION, AND THE INDIVIDUAL WITH A CONFLICT IS RECUSED FROM PARTICIPATING IN THE DISCUSSION AND RESOLUTION OF THE CONFLICT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT'S COMPENSATION IS SUBJECT TO ANNUAL REVIEW BY A PRESIDENTIAL REVIEW SUBCOMMITTEE, AS AUTHORIZED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE SUBCOMMITTEE MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, WHO REVIEWS COMPARABLE SALARY INFORMATION PRIOR TO MAKING A RECOMMENDATION FOR APPROVAL TO THE COMPLETE BOARD OF TRUSTEES. THE REVIEW IS DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES. THE CFO'S COMPENSATION IS DETERMINED USING COMPARABILITY DATA, INCLUDING REVIEW AND APPROVAL BY INDEPENDENT PERSONS, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKLIN FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 41 BERKELEY STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 222995201 | EIN |
| Primary Activities | SUPPORT BFIT | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 12A, I | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BFIT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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