2018-05-15T09:54:50-05:00 2017-06-30 263753134 CBIZ MHM LLC 500 Boylston Street Boston MA 02116 990 2016-07-01 042103576 benjamin franklin institute of technology BENJ 6174234630 41 berkeley street boston MA 02116 maureen joyce cfo 6174234630 2018-05-09 1 Brenda l booth P01342395 6177610600 2018-05-09 2016 2022-09-23 18:48:47Z anthony benoit 41 berkeley street boston MA 02116 15460709 0 X www.bfit.edu X 1913 MA 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. 17 16 185 16 0 0 1996577 3593610 9534689 10002422 24331 138556 225075 309671 11780672 14044259 2248518 2800064 0 0 7149895 7354152 0 0 156327 3898292 4078186 13296705 14232402 -1516033 -188143 7708510 8294430 3884278 4364979 3824232 3929451 X 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. 0 0 10515951 2800064 10002422 providing college education at the level of certificates, associate degrees and bachelor's degrees to a largely underserved urban population. in the 2016-2017 academic year the institute enrolled about 492 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. 10515951 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 562 0 1 185 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X maureen joyce 6175881363 41 berkeley street boston MA 02116 anthony g benoit president 35.00 X X 182858 0 14397 ryan hutchins chair 5.00 X X 0 0 0 judy pagliuca vice chair 5.00 X X 0 0 0 maureen pompeo CLERK 5.00 X X 0 0 0 jake grossman trustee 2.00 X 0 0 0 kevin stone trustee 2.00 X 0 0 0 daniel bonnette treasurer 5.00 X X 0 0 0 kaye ferriter trustee 2.00 X 0 0 0 david fischer trustee 2.00 X 0 0 0 amy leddy trustee 2.00 X 0 0 0 christopher morse trustee 2.00 X 0 0 0 joseph shaker trustee 2.00 X 0 0 0 daniel weinger trustee 2.00 X 0 0 0 erik lien trustee 2.00 X 0 0 0 rahul yarala trustee 2.00 X 0 0 0 Jed Nosal trustee 2.00 X 0 0 0 Roger Berman Trustee 2.00 X 0 0 0 maureen joyce chief financial officer 35.00 X 118948 0 452 Kimberly Freedman Chief Development Officer 35.00 X 101539 0 204 David Protano dept. chair of auto tech 35.00 X 100997 0 12963 Larson Rogers dean of faculty 35.00 X 107452 0 14156 Tracey Arvin Dept Chair of Elect. Tech 35.00 X 102175 0 5535 713969 0 47707 5 0 1 0 Apogee IT services po box 970067 boston MA 022970067 IT 262580 Goulston & Storrs 400 atlantic avenue boston MA 02110 Legal 159131 2 706246 2887364 102089 3593610 Tuition and FEES 611710 9009552 9009552 student provisions 611710 856824 856824 Auxiliary income 611710 136046 136046 10002422 63409 63409 309671 0 309671 309671 309671 1491597 1416450 75147 75147 75147 14044259 10002422 0 448227 2800064 2800064 337000 38800 220600 77600 5600890 4653948 911240 35702 369546 286225 75768 7553 620296 410661 200362 9273 426420 339466 79009 7945 204259 204259 4000 4000 31548 31548 766363 438719 324823 2821 325289 28456 296833 1860 979 881 171713 165735 499 5479 14204 13836 295 73 28735 23782 3011 1942 131207 304 130903 307861 307861 139436 500 138936 student provisions 632502 632502 0 0 supplies 275748 246850 28859 39 utilities 271211 49012 222199 equip. rental/maint. 143059 68420 74639 629191 317692 303599 7900 14232402 10515951 3560124 156327 56817 679912 0 610721 802295 180054 523177 19620 69954 9592711 6914968 2676621 2677743 4152045 3508717 12632 32632 7708510 8294430 782942 1190124 0 96394 182000 536092 2992855 2468850 0 3884278 4364979 X -192286 -1141887 908775 1852295 3107743 3219043 3824232 3929451 7708510 8294430 -188143 293362 0 X 0 1 X 1 1 1 X 1509337 2579503 1847149 1996577 3593610 11526176 1509337 2579503 1847149 1996577 3593610 11526176 3264218 8261958 84454 85602 88385 295601 373080 927122 12453298 48072742 0.66340 0.69540 X form 990, schedule a, Part I, line 7: 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4152045 111300 400370 579594 575404 3508717 4818978 93250 -183452 77457 499274 4152045 4636591 2000 264509 65565 18557 4818978 3787171 77450 829575 39409 18557 4636590 3224095 227525 390006 36467 17988 3787171 0.08260 0.91740 0.00000 0 0 726832 726832 3181180 3181180 0 2689973 1865654 824319 2994726 1868134 1126592 2677743 X 11506009 293362 293362 11212647 31548 2800064 2831612 14044259 11400790 0 11400790 31548 2800064 2831612 14232402 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 2,800,064. Part XII, Line 4b - Other Adjustments: university funded financial aid - tuition discount 2,800,064. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 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. 1 scholarships for students 799 2800064 fmv reduction of student account Schedule I, Part I, Line 2 The Institute maintains detailed records in the Student information System database of all scholarships awarded. X X X 0 0 0 0 0 0 0 0 0 anthony g benoit president 182858 0 0 0 0 0 0 0 14397 0 197255 0 0 0 X 2 102089 FMV 0 0 1 0 Part I, Column (b): the amount reported on schedule m part I column (b) represents the number of contributions. 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. franklin foundation 41 berkeley street boston MA 02116 222995201 support bfit MA 501(c)(3) Line 12a, I bfit 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0