2019-07-09T12:06:25-05:00 2018-08-31 GRANT THORNTON LLP 757 THIRD AVE 3RD FL NEW YORK NY 100172013 990 2017-09-01 510163080 Cambridge College Inc % JOHN SPINARD CAMB 9788681000 500 Rutherford Avenue Boston MA 02129 JOHN SPINARD VP OF FIN & ADMIN 6178681000 2019-07-03 true Daniel Romano P00504182 2125990100 209.220.136.124 26377520191905000009 2019-07-09 P 1C6842111608484055823DAAC3593089943D831E D8144EF21AC2D52864937695A2503175270E7152 2017 2019-02-21 02:37:17Z Deborah C Jackson 500 Rutherford Avenue Boston MA 02129 58308255 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. 14 13 610 13 0 9117 491983 568070 22486080 22114779 64251656 1905547 398482 124292 87628201 24712688 791231 758555 0 0 19450995 19236881 27591 36545 694988 11809661 13304731 32079478 33336712 55548723 -8624024 102529245 92483700 27302194 25328616 75227051 67155084 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 25226119 758555 22114779 FOR MORE THAN 40 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. 25226119 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 610 true false false false false false false false false false false X 14 13 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 1.0 0.0 X X 0 0 0 Pedro Arce Trustee 1.0 0.0 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 James Segel Trustee 1.0 0.0 X 0 0 0 Thomas F Snyder Trustee (THROUGH 3/18) 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 Janet Whitla Trustee (Through 10/17) 1.0 0.0 X 0 0 0 Deborah C Jackson President 60.0 0.0 X X 356277 0 95517 John J Spinard VP of Finance & Administration 50.0 0.0 X 186732 0 43308 Mark S Rotondo VP of Innovation & Strategy 50.0 0.0 X 179043 0 41559 Carson Berglund VP of Inst. Advt(through 3/18) 50.0 0.0 X 128518 0 39320 Jacqueline J Conrad VP, Marketing, Communications 50.0 0.0 X 119653 0 38029 Lauretta D Siggers VP of HR & Talent Development 50.0 0.0 X 128118 0 11885 Phillip E Page VP of Strategic Partnerships 50.0 0.0 X 116004 0 35434 Gilda G Gely Interim Provost/VP Acad Affars 50.0 0.0 X 144963 0 30985 Robert M Goldberg Koch Chair, MBA Executive Dir 50.0 0.0 X 150356 0 44703 Niti Seth Dean School of Psych & Counsel 50.0 0.0 X 154634 0 9915 James S Lee Dean, School of Undergraduate 50.0 0.0 X 122584 0 38024 Mary Ann Joseph Dean, School of Management 50.0 0.0 X 127679 0 19425 Dorothy M Whalen Controller 50.0 0.0 X 118396 0 19118 Anna Catherine Koverola Provost/VP of Academic Affairs 0.0 0.0 X 110681 0 23320 2143638 0 490542 24 true true false Callahan Inc 80 FIRST STREET BRIDGEWATER MA 02324 Renovation 13987209 Wilson Architects Inc 374 CONGRESS STREET SUITE 400 BOSTON MA 02210 Architectural 604825 Ricoh USA Inc PO BOX 534777 ATLANTA GA 30353 Printing/Scanning 447779 Jenzabar 101 Huntington Avenue Suite 2200 BOSTON MA 02199 software Licences 295868 Argus Communications 280 Summer street Suite 402 BOSTON MA 02210 Communications 220055 13 23750 544320 11922 568070 TUITION AND FEES 611310 22047454 22047454 ACADEMIC RELATED INCOME 611710 67325 67325 22114779 1057942 1057942 0 0 0 0 0 34443172 33595567 847605 847605 847605 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 114365 114365 MEMORABILIA SALES 900099 9927 9927 124292 24712688 22114779 2029839 0 758555 758555 0 0 1698362 630248 911640 156474 0 14254179 12129960 1825284 298935 837446 657273 165319 14854 1408570 951786 437997 18787 1038324 892565 125179 20580 0 285589 8990 276599 122097 122097 0 36545 36545 214035 214035 1253777 829031 326406 98340 1054931 1008572 25358 21001 683593 608140 71905 3548 493065 401252 91813 0 5518562 4413215 1105347 143924 136361 5416 2147 0 94180 41563 35907 16710 792611 282640 509971 0 1046024 875484 170540 225625 123847 101778 BAD DEBT EXPENSE 595865 595865 LIBRARY COSTS 238857 238857 PROFESSIONAL MEMBERSHIPS 54089 11096 39914 3079 LICENSES, PERMITS, AND FEES 10049 8860 699 490 477858 217824 256536 3498 33336712 25226119 7415605 694988 177274 131630 69440423 7748928 753885 16977 2106501 1942660 0 0 0 0 0 0 0 0 957748 1044649 14190112 2896631 8408067 11293481 20572795 70082274 0 0 0 0 0 0 112552 223101 102529245 92483700 7711573 4168650 0 0 0 0 0 0 0 0 0 0 8496253 7994217 0 0 11094368 13165749 27302194 25328616 X 62658191 54534437 4924975 4974412 7643885 7646235 75227051 67155084 102529245 92483700 X -8624024 574133 -22076 X false true X true true true X 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 12450266 484370 1920289 235631 0 0 14619294 0.82908 0.06113 0.10978 false false 120522 56243 64279 9413511 850878 8562633 2802638 957542 1845096 1853441 1031968 821473 11293481 0 LINE OF CREDIT 9300000 CAPITAL LEASE PAYABLE 2983072 TUITION DEPOSITS 827217 PERKINS FEDERAL CONTRIBUTION 55460 13165749 X 24292155 574133 -22076 552057 23740098 214035 758555 972590 24712688 32364122 32364122 214035 758555 972590 33336712 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 $(22,076) OTHER SCHEDULE D, PARTS XI AND XII, LINE 4B SCHOLARSHIPS $758,555 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 6 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 AVENUE SAN MATEO CA 94402 consulting false 0 36545 0 36545 AK CO MD MA MI NH NJ NY OH SC WA true SCHOLARSHIPS - SEE PART IV 115 101063 SCHOLARSHIPS - SEE PART IV 35 38016 SCHOLARSHIPS - SEE PART IV 28 29799 SCHOLARSHIPS - SEE PART IV 20 24900 SCHOLARSHIPS - SEE PART IV 7 5820 SCHOLARSHIPS - SEE PART IV 4 14145 FINANCIAL AID 273 339773 Massachusetts Grants 95 118599 Waivers, Alumni & Discounts 85 86440 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 $ 101,063 SCHOLARSHIP FOR TEACHERS AND SOCIAL SERVICES STUDENTS IN THE BOSTON AREA SEEKING TO ADVANCE THEIR CAREERS THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 38,016 SCHOLARSHIPS FOR STUDENT WORKING TOWARDS CIVIL RIGHTS AND SOCIAL JUSTICE IN THEIR PERSONAL LIVES OR EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 29,799 SCHOLARSHIPS FOR STUDENTS MAKING LIFE CHANGES THROUGH EDUCATION, PER DONOR RESTRICTIONS, AMOUNTED TO $ 24,900 SCHOLARSHIPS FOR MALE PROTESTANT STUDENTS FROM BOSTON AREA SCHOOLS, PER DONOR RESTRICTIONS, AMOUNTED TO $5,820 STUDENTS WITH HERITAGE FROM LAOS, BURMA, CAMBODIA, AND VIETNAM AMOUNTED TO $ 14,145 THE REMAINING $544,812 IS COMPRISED OF FINANCIAL AID ($339,773), MASSACHUSETTS GRANTS ($118,599), AND WAIVERS & DISCOUNTS ($86,440). X X false true false false false false false false false Deborah C Jackson President 344333 0 0 0 11944 0 76600 0 18917 0 451794 0 0 0 John J Spinard VP of Finance & Administration 186188 0 0 0 544 0 14969 0 28339 0 230040 0 0 0 Mark S Rotondo VP of Innovation & Strategy 178860 0 0 0 183 0 12837 0 28722 0 220602 0 0 0 Carson Berglund VP of Inst. Advt(through 3/18) 128002 0 0 0 516 0 10981 0 28339 0 167838 0 0 0 Jacqueline J Conrad VP, Marketing, Communications 119372 0 0 0 281 0 9690 0 28339 0 157682 0 0 0 Phillip E Page VP of Strategic Partnerships 115478 0 0 0 526 0 8282 0 27152 0 151438 0 0 0 Gilda G Gely Interim Provost/VP Acad Affars 144687 0 0 0 276 0 12068 0 18917 0 175948 0 0 0 Robert M Goldberg Koch Chair, MBA Executive Dir 150080 0 0 0 276 0 16364 0 28339 0 195059 0 0 0 Niti Seth Dean School of Psych & Counsel 153460 0 0 0 1174 0 9915 0 0 0 164549 0 0 0 James S Lee Dean, School of Undergraduate 122308 0 0 0 276 0 9569 0 28455 0 160608 0 0 0 Anna Catherine Koverola Provost/VP of Academic Affairs 110402 0 0 0 279 0 9249 0 14071 0 134001 0 0 0 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B THE FOLLOWING EMPLOYEE PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F): DEBORAH C. JACKSON - $55,000 THIS CONTRIBUTION TO THE NONQUALIFIED RETIREMENT PLAN IS PART OF HER TOTAL COMPENSATION AND IS INCLUDED IN COLUMN (C) OF SCHEDULE J, PART II. RELATED TO THE REASONABLENESS OF TOTAL COMPENSATION. IT IS INCLUDED IN COLUMN (C) OF SCHEDULE J, PART II. 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 BOARD OF TRUSTEES MAY CHOOSE TO ESTABLISH FROM AMONG ITS MEMBERS AN EXECUTIVE COMMITTEE. IF ESTABLISHED, THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRS OF ALL STANDING BOARD COMMITTEES, AS DESCRIBED IN SECTION 4.13(A), AND THE OFFICERS OF THE BOARD. THE CHAIR SHALL ACT AS THE CHAIR OF THE EXECUTIVE COMMITTEE, AND THE VICE CHAIR SHALL ACT AS VICE CHAIR OF THE EXECUTIVE COMMITTEE. THE PRESIDENT SHALL SERVE AS A MEMBER OF THE EXECUTIVE COMMITTEE, EX-OFFICIO, WITH VOTE. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES TO ADDRESS ROUTINE BUSINESS BETWEEN REGULAR BOARD MEETINGS; IT SHALL ASSIST AND ADVISE THE CHAIR AND THE PRESIDENT IN THEIR RESPONSIBILITIES TO HELP THE BOARD OF TRUSTEES FUNCTION EFFECTIVELY AND EFFICIENTLY; AND SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH SHALL BE 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. 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 $(22,076)