2017-07-17T07:05:23-05:00 2016-08-31 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2015-09-01 510163080 Cambridge College Inc % JOHN SPINARD CAMB 9788681000 1000 Massachusetts Ave Cambridge MA 02138 JOHN SPINARD VP OF FIN & ADMIN 6178681000 2017-07-14 true Robert J Butler Jr P00037953 6177237900 2017-07-14 2015 2021-01-29 14:40:06Z Deborah C Jackson 1000 Massachusetts Ave Cambridge MA 02138 56650417 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. 15 14 647 15 0 653357 839996 23594334 25508914 1885049 2964157 854669 869574 26987409 30182641 727639 2810391 0 0 18683727 18512424 0 0 610875 8306615 8432400 27717981 29755215 -730572 427426 29351009 30919846 8554661 11407023 20796348 19512823 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 24192280 2810391 25698667 For more than 40 years Cambridge College has been a leader and pioneer in adult learning. With a main campus in Cambridge, 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- 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, masters, and doctoral degree programs; and certificate and Certificate of Advanced Graduate Studies programs. 24192280 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true false false false false false false false false false false false false false false false false false true 3343 0 true 647 true false false false false false false false false false false X 15 14 false false false false false false false true true false false true true true true true true true false false CA MA PR X X JOHN SPINARD 6178681000 1000 MASSACHUSETTS AVE Cambridge MA 02138 Susan M Ifill Chair 1.5 0.0 X X 0 0 0 Charles L Anderson MD Treasurer 1.0 0.0 X X 0 0 0 Pedro Arce Trustee 1.0 0.0 X 0 0 0 Allan Cohen Vice Chair 1.0 0.0 X X 0 0 0 John K Dineen Clerk 1.0 0.0 X 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 1.0 0.0 X 0 0 0 Jesse Solomon Trustee 1.0 0.0 X 0 0 0 Janet Whitla Trustee (Chair 10/15 - 1/16) 1.0 0.0 X X 0 0 0 Luis E Yepez Jr Trustee 1.0 0.0 X 0 0 0 Derek Davis Chair (thru 10/15) 1.0 0.0 X X 0 0 0 Deborah C Jackson President 60.0 0.0 X X 315781 0 49683 Anna Catherine Koverola Provost 50.0 0.0 X 73806 0 11691 John J Spinard V. P. for Finance and Admin 50.0 0.0 X 154543 0 37310 Mark S Rotondo V. P. of Innovation & Strategy 50.0 0.0 X 157399 0 35049 Carson Berglund V. P. for Inst. Advancement 50.0 0.0 X 56546 0 11793 Jacqueline J Conrad V.P. Marketing, Communications 50.0 0.0 X 89988 0 36321 Phillip E Page V. P. of Strategic Partnership 50.0 0.0 X 84220 0 36210 James S Lee Dean School of Undergraduate 50.0 0.0 X 124783 0 31621 Niti Seth Dean, School of Psy. & counsel 50.0 0.0 X 129081 0 9453 Sheila Wright Dean, School of Education 50.0 0.0 X 119891 0 19714 Cynthia Y Ker Core Faculty 50.0 0.0 X 129841 0 23681 Richard Seymour Core Faculty 50.0 0.0 X 126929 0 17771 1562808 0 320297 27 false true false DONE RIGHT BUILDING SERVICES 4 Copley Place Suite 125 BOSTON MA 02116 CLEANING SERVICE 331761 HUNTER PROTECTIVE SERVICES 10 Mall Road Suite 125 BURLINGTON MA 01803 SECURITY SERVICES 221180 RICOH USA INC PO Box 534777 ATLANTA GA 30353 MAIL AND COPY SERV. 188781 ADP INC P O Box 842875 BOSTON MA 02284 PAYROLL SERVICES 149958 ROSE CHINITZ ROSE One Beacon Street 23rd Floor BOSTON MA 02108 LEGAL SERVICES 115163 6 64201 775795 5140 839996 TUITION AND FEES 611310 25275714 25275714 OTHER ACADEMIC RELATED INCOME 611310 233200 233200 25508914 503266 503266 0 0 1734557 937995 796562 0 796562 796562 27873931 25413040 2460891 2460891 2460891 64201 116741 -116741 -116741 0 0 OTHER INCOME 611310 189753 189753 189753 30182641 25698667 3643978 0 2810391 2810391 0 0 1301804 494103 639165 168536 0 14060070 12567513 1226207 266350 765067 662170 88362 14535 1346246 919233 395077 31936 1039237 930353 89737 19147 0 434718 434718 109863 109863 0 0 148518 148518 976935 576781 343464 56690 1223768 1196356 4727 22685 502415 435940 61811 4664 455520 393957 61563 0 2151686 2101644 50042 219635 191373 25843 2419 0 117199 70864 36524 9811 188560 39980 148580 0 532550 510649 21901 160979 463 160516 BAD DEBT EXPENSE 445950 445950 LIBRARY COSTS 216693 216693 PROFESSIONAL MEMBERSHIPS 59196 15560 42787 849 LICENSE PERMITS AND FEES 21496 1192 19514 790 466719 57065 397191 12463 29755215 24192280 4952060 610875 375012 185474 517526 846125 896785 844265 1967019 2406545 0 0 0 0 0 0 0 0 737732 815098 24506156 18701246 5888438 5804910 17896103 19021678 0 0 0 0 0 0 1072394 995751 29351009 30919846 1803543 2289398 0 0 0 0 0 0 0 0 0 0 642210 571144 0 0 6108908 8546481 8554661 11407023 X 8316320 6711541 4568203 4885360 7911825 7915922 20796348 19512823 29351009 30919846 X 427426 -1689048 -21903 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14451700 891399 416347 0 0 14926752 14619294 1725 349871 519190 0 0 14451700 12450266 484370 1920289 235631 0 0 14619294 12203627 61075 982173 265378 0 0 12981497 11015286 147700 1099315 58674 0 0 12203627 0.22350 0.50940 0.26710 false false 1394000 1394000 10865563 7596940 3268623 2419409 2103626 315783 7366249 7229246 137003 2460935 1771434 689501 5804910 0 LINE OF CREDIT 6750000 TUITION DEPOSITS 1243750 CAPITAL LEASE PAYABLE 497271 PERKINS FEDERAL REFUNDABLE ADVANCE 55460 8546481 X 26567517 -1689048 1032833 -656215 27223732 148518 2810391 2958909 30182641 27851042 1054736 1054736 26796306 148518 2810391 2958909 29755215 ENDOWMENT FUNDS Schedule D, Part V, Line 4 The Colleges 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 responsible for the maintenance of its tax-exempt status; identifying and reporting unrelated income; determining its filing and tax obligations in jurisdictions for which it has nexus; and identifying and evaluating other matters that may be considered tax positions. The College is required to assess uncertain tax positions and has determined that there were no such positions that are material to the financial statements. It is the Colleges policy to record estimated interest and penalties (if any) as part of management and general expense. RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS Schedule D, Part XI, Line 2d Rental Expense $ 937,995 Fundraising Expense $ 116,741 Loss on Split Interest Agreement $ (21,903) ----------- $ 1,032,833 Schedule D, Parts XI and XII, Line 4B SCHOLARSHIPS $ 2,810,391 RECONCILIATION OF EXPENSES TO AUDITED FINANCIAL STATEMENTS Schedule D, Part XII, Line 2D RENTAL EXPENSE $ 937,995 Fundraising Expense $ 116,741 ----------- $ 1,054,736 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 colleges 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 US 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. 45th gala 64201 64201 9213 58260 850 48418 0 64201 64201 9213 58260 850 48418 116741 -116741 true SCHOLARSHIPS - SEE PART IV 36 57868 SCHOLARSHIPS - SEE PART IV 18 31354 SCHOLARSHIPS - SEE PART IV 11 23000 SCHOLARSHIPS - SEE PART IV 3 6034 SCHOLARSHIPS - SEE PART IV 3 18002 SCHOLARSHIPS - SEE PART IV 3 16891 FINANCIAL AID 185 281293 MASSACHUSETTS GRANTS 87 165650 WAIVERS, ALUMNI, & DISCOUNTS 68 107264 YEAR-UP WAIVERS 155 2103035 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 fund are identified as applicable to financial aid for a student. 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 $57,868. Scholarship for teachers and social services students in the Boston area seeking to advance their careers through education, per donor restrictions, amounted to $31,354. Scholarships for students working towards civil rights and social justice in their personal lives or education, per donor restrictions, amounted to $23,000. Scholarships for students making life changes through education, per donor restrictions, amounted to $6,034. Scholarships for male protestant students from Boston area schools, per donor restrictions, amounted to $18,002. Students with heritage from Laos, Burma, Cambodia, Vietnam amounnted to $16,891. The remaining $2,657,242 is comprised of financial aid ($281,293), Mass Grants ($165,650), waivers & discounts ($107,264), and Year-Up Waivers ($2,103,635). X true true X X X true true false false false false false false false Deborah C Jackson President 274189 0 0 0 41592 0 31200 0 18483 0 365464 0 0 0 John J Spinard V. P. for Finance and Admin 154027 0 0 0 516 0 9618 0 27692 0 191853 0 0 0 Mark S Rotondo V. P. of Innovation & Strategy 157220 0 0 0 179 0 11920 0 23129 0 192448 0 0 0 James S Lee Dean School of Undergraduate 124603 0 0 0 180 0 9123 0 22498 0 156404 0 0 0 Cynthia Y Ker Core Faculty 63642 0 0 0 66199 0 13181 0 10500 0 153522 0 0 0 Housing allowance or residence for personal use Schedule J, Part I, Line 1a President Jackson received a housing allowance of $36,000. This benefit is included in taxable wages reported on Schedule J, Part II, column B(iii). separation payments Schedule J, Part I, Line 4a Two faculty members listed on the Form 990, Cynthia Y. Ker and Richard Seymour, participated in the Retirement Incentive Program. The program provided a gross payment of $65,000. Payments made under the program were included in taxable compensation reported on 2015 Form W-2 and are reported on Schedule J Part II column Biii supplemental nonqualified retirement plan Schedule J, Part I, Line 4b President Jackson participates in a 457(f) plan. The college makes an annual contribution of $10,000 to this plan. FORM 990 REVIEW PROCESS Form 990, Part VI, 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, 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 Office of Human Resources and compliance is monitored by the Office of the General Counsel. 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 interested trustee, officer, employee or other representative must refrain from participating in College decision making with respect to any transaction or relationship in which he or she is interested. Finally, an independent determination must be made that the transaction or relationship meets the applicable standard and should be entered into or continued. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, 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. The compensation of the previous President is also used as a guide. 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, 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 balance Form 990, Part XI, Line 9 Change in Value of Split Interest Agreement $(21,903)