2017-01-27T13:30:54-06:00 2016-06-30 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2015-07-01 222581930 Massachusetts Bay Community College Foundation Inc MASS 7812393000 50 OAKLAND STREET WELLESLEY HILLS MA 02481 KEVIN KANE DIRECTOR & CHAIR 7812393000 2017-01-20 1 EDWARD MCNEIL P00090108 6176481400 2015 2021-01-29 14:40:06Z KEVIN KANE 50 OAKLAND STREET WELLESLEY HILLS MA 02481 7469552 0 X WWW.MASSBAY. EDU X 1984 MA TO PROVIDE SCHOLARSHIPS AND COLLEGE FUNDRAISING 19 19 0 50 0 0 260903 169053 0 0 175774 162677 0 0 436677 331730 293280 218666 0 0 0 0 0 0 0 68624 116549 361904 335215 74773 -3485 5032394 4955207 5468 20016 5026926 4935191 X THE FOUNDATION BOARD ENHANCES THE VITALITY OF THE COLLEGE BY PROMOTING INVESTMENT FROM EXTERNAL SOURCES, GROWING THE ENDOWMENT, AWARDING SCHOLARSHIPS, AND CREATING PARTNERSHIPS FOR LEARNING. IN SO DOING, THE FOUNDATION SEEKS TO BE A CATALYST FOR TRANSFORMING THE COLLEGE BY SUPPORTING EDUCATIONAL EXCELLENCE AND ACHIEVEMENT. 0 0 218666 218666 AWARDS SCHOLARSHIPS TO VARIOUS STUDENTS 13700 equipment donations 71689 OTHER PROGRAM COSTS 304055 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 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 X 19 19 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X KATHLEEN KIRLEIS 7812393000 50 OAKLAND STREET WELLESLEY HILLS MA 02481 X X Annmarie McKinley MSN RN DIRECTOR 0.50 X 0 0 0 Cynthia Forrest Smith DIRECTOR 0.50 X 0 0 0 David J Himmelberger DIRECTOR 0.50 X 0 0 0 Ed Esposito DIRECTOR 0.50 X 0 0 0 Harry Wells DIRECTOR & TREASURER 0.50 X X 0 0 0 James Lehan DIRECTOR 0.50 X 0 0 0 James McKenzie DIRECTOR 0.50 X 0 0 0 Jeannette AGerald DIRECTOR 0.50 X 0 0 0 Joseph Asaya DIRECTOR 0.50 X 0 0 0 Kevin Kane DIRECTOR & CHAIR 0.50 X X 0 0 0 Kevin Maguire DIRECTOR 0.50 X 0 0 0 Laurie Carlson DIRECTOR 0.50 X 0 0 0 Melissa Lord outgoing director 0.50 X 0 0 0 Michelle Drolet DIRECTOR 0.50 X 0 0 0 Michelle Wilver DIRECTOR 0.50 X 0 0 0 Patricia Washington director 0.50 X 0 0 0 Stephen THibbard DIRECTOR 0.50 X 0 0 0 Susan Bonaiuto DIRECTOR & Vice-Chair 0.50 X X 0 0 0 Thomas M Britt DIRECTOR 0.50 X 0 0 0 William Cushing DIRECTOR 0.50 X 0 0 0 John O'Donnell outgoing president & secretary 0.50 X 0 0 0 Lynn Hunter president & secretary 0.50 X 0 0 0 Yves Salomon-Fernandez outgoing president & secretary 0.50 X 0 0 0 0 0 0 0 0 0 0 0 169053 13700 169053 80068 80068 7220431 7137822 82609 82609 82609 331730 0 0 162677 52000 52000 166666 166666 220 220 8624 8624 11807 11807 8540 8540 1342 1342 1123 1123 3418 3418 Other program costs 47321 47321 Program services 14705 14705 equipment donations 13700 13700 Books, subscription, re 5496 5496 253 253 335215 304055 31160 0 362643 252534 343711 316268 38314 27697 4287726 4358708 5032394 4955207 5468 0 20016 5468 20016 X 2467865 2461601 1319068 1176470 1239993 1297120 5026926 4935191 5032394 4955207 -3485 -88250 0 X X 0 1 X 1 0 X 267990 298705 271985 260903 169053 1268636 64190 64190 267990 298705 271985 325093 169053 1332826 433547 899279 80525 70009 69338 69433 80068 369373 1702199 0.52830 0.61700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4631437 35034 30734 2527547 2169658 4841652 325093 226841 238835 172129 4982622 2246021 2256940 707100 185173 183336 4841552 2789700 62876 325550 83653 848452 2246021 2750424 81628 3905 46257 2789700 0.58600 0.41400 0 0 0 Equity Funds 3262114 F Bond Funds 1096594 F 4358708 Due to affiliate 20016 20016 X 296759 -88250 65086 -23164 319923 11807 11807 331730 388494 65086 65086 323408 11807 11807 335215 Part V, Line 4: endowments are used to further the organizations exempt purpose. Part X, Line 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" ("MLTN") SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES, THE FOUNDATION MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. 1 MASSACHUSETTS BAY COMMUNITY COLLEGE 50 OAKLAND STREET WELLESLEY HILLS MA 02481 046002284 115 52000 FMV Science Equipment FOR USe BY THE COLLEGE'S ACADEMIC PROGRAMS 1 0 SCHOLARSHIPS 191 166666 fmv SCHOLARSHIPS part I, Line 2: GRANT FUNDS RECEIVED BY THE FOUNDATION ARE ACCOMPANIED BY A MEMORANDUM OF UNDERSTANDING, AGREEMENT, OR GRANT AWARD LETTER. IF THIS DOCUMENTATION IS NOT RECEIVED WITH THE CHECK, DOCUMENTATION OF THE UNDERSTANDING IS PREPARED AND AGREED TO BY BOTH PARTIES TO COMPILE A CLEAR UNDERSTANDING OF THE REQUIREMENTS OF THE GRANT. ALL FOUNDATION GRANTS ARE MANAGED THROUGH THE NORMAL ACCOUNTING PROCESSES AND PROCEDURES OF THE COLLEGE. REPORTING AND MONITORING OF GRANT OUTCOMES IS THE RESPONSIBILITY OF THE MASSACHUSETTS BAY COMMUNITY COLLEGE GRANTS OFFICE. FISCAL OFFICE, AND THE GRANT MANAGER, OR PRINCIPAL INVESTIGATOR ASSIGNED TO THE GRANT. Form 990, Part VI, Section A, line 7a the by-laws of the organization state that the Secretary of the organization shall be the President of the Massachusetts Bay Community College. Form 990, Part VI, Section B, line 11 The Form 990 will be reviewed by management and then, separately, by the Executive Committee. The Organization emails a copy of the Form 990 to all of its government body members for their review. Once the Form 990 have been approved by the Board of Directors, the Form 990 then can be filed with the Internal Revenue Service and the Massachusetts Attorney General's office. Form 990, Part VI, Section B, line 12c THE FOUNDATION CONDUCTS PERIODIC REVIEWS TO ENSURE THAT THE CONFLICT OF INTEREST POLICY IS BEING ADHERED TO.THESE REVIEWS ADDRESS WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULTS OF ARM'S LENGTH BARGAINING AND WHETHER PARTNERSHIP AND JOINT VENTURE ARRANGEMENTS AND ARRANGEMENTS WITH MANAGEMENT'S SERVICE ORGANIZATIONS AND WITH THE COLLEGE CONFORM TO WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE PAYMENTS FOR GOODS AND SERVICES, FURTHER THE FOUNDATION IS CHARITABLE PURPOSES, AND DO NOT RESULT IN IMPERMISSIBLE PRIVATE BENEFIT. IF THE FOUNDATION DEEMS IT NECESSARY, THEY MAY ALSO USE OUTSIDE EXPERTS TO PERFORM THESE REVIEWS . Form 990, Part VI, Section C, line 19 THE FOUNDATION MAKES ALL OF ITS GOVERNING DOCUMENTS, INCLUDING A CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THESE DOCUMENTS CAN BE REQUESTED VIA THE OFFICE OF ADMINISTRATION AND FINANCE. FORM 990, PART VII, SECTION A MASSACHUSETTS BAY COMMUNITY COLLEGE FOUNDATION HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF MASSACHUSETTS BAY COMMUNITY COLLEGE. FORM 990, PART XII, LINE 2C: FINANCE AND AUDIT COMMITTEE: THE ORGANIZATION HAS A FINANCE AND AUDIT COMMITTEE WHOSE PURPOSE IS THE OVERSIGHT AND REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.