2016-11-10T11:55:32-06:00 2016-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFFICE PARK SUITE 102 BRAINTREE MA 02184 990 2015-07-01 237136083 MOUNT WACHUSETT COMMUNITY COLLEGE FOUNDATION INC MOUN 9786326600 444 GREEN STREET GARDNER MA 01440 SCOT BARRETT TREASURER 9786326600 2016-11-07 1 DAVID A DIIULIS P00303577 6174711120 2016-11-07 2015 2017-02-10 21:41:12Z SCOT BARRETT 444 GREEN STREET GARDNER MA 01440 2425908 0 X WWW.MWCC.EDU/FOUNDATION X 1971 MA AWARDING OF GRANTS AND SCHOLARSHIPS 22 22 0 0 0 0 583413 686314 0 0 74154 268940 4665 1028 662232 956282 699047 835662 0 0 0 0 0 0 2874 115800 106386 814847 942048 -152615 14234 6581472 6254464 53675 20448 6527797 6234016 X THE MISSION OF MOUNT WACHUSETT COMMUNITY COLLEGE FOUNDATION, INC. IS TO SECURE TIME, TALENT, AND TREASURE FROM PRIVATE AND PUBLIC SOURCES THAT WILL ENABLE THE COLLEGE TO PROVIDE ACCESSIBLE, AFFORDABLE EDUCATION, AND TO IMPLEMENT, SOCIAL, ECONOMICAL AND CULTURAL INITIATIVES. 0 0 835662 835662 FOSTERING AND PROMOTING EXCELLENCE IN EDUCATION AND RESEARCH THROUGH GRANTS AND SCHOLARSHIPS AND ASSISTING IN THE GROWTH AND IMPROVEMENT OF THE COLLEGE 835662 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MA X CARLA ZOTTOLI EXECUTIVE DIRECTOR 9786326600 444 GREEN STREET GARDNER MA 01440 CHARLES P BOWLES DIRECTOR 1.00 X 0 0 0 PETER C ARMBRUSTER CLERK 1.00 X X 0 0 0 SCOT BARRETT TREASURER 1.00 X X 0 0 0 RICHARD A CELLA DIRECTOR 1.00 X 0 0 0 RICHARD FLANNAGAN DIRECTOR 1.00 X 0 0 0 REGINA WIRONEN DIRECTOR 1.00 X 0 0 0 JAMES GARRISON DIRECTOR 1.00 X 0 0 0 ANN MCDONALD DIRECTOR 1.00 39.00 X 0 192475 59321 GAIL STEELE DIRECTOR 1.00 39.00 X 0 85507 26353 RAYMOND MARTINO CHAIRMAN 1.00 X X 0 0 0 JEANIE CONNOLLY DIRECTOR 1.00 X 0 0 0 WINFIELD BROWN DIRECTOR 1.00 X 0 0 0 WAYNE CANTY DIRECTOR 1.00 X 0 0 0 WALTER J DWYER IV VICE CHAIRMAN 1.00 X 0 0 0 RAYMOND LAFOND DIRECTOR 1.00 X 0 0 0 ROBIN DUNCAN DIRECTOR 1.00 X 0 0 0 DOUGLAS J PETERSEN DIRECTOR 1.00 X 0 0 0 LINDA RACINE DIRECTOR 1.00 X 0 0 0 MOLLY RUBLE DIRECTOR 1.00 X 0 0 0 GEORGE JONES III DIRECTOR 1.00 X 0 0 0 MARK GEOFFROY ALUMNI PRESIDENT 1.00 X 0 0 0 CARLA ZOTTOLI EXECUTIVE DIRECTOR 40.00 X 0 80898 25371 0 358880 111045 0 0 1 0 0 85727 600587 686314 81609 81609 1628840 1441509 187331 187331 187331 29145 85727 28117 1028 1028 956282 0 0 269968 835662 835662 43279 43279 17049 17049 13248 13248 5679 5679 6809 6809 2139 2139 LICENSING 11438 11438 ALUMNI EXPENSE 2874 2874 DUES AND SUBSCRIPTIONS 1473 1473 2398 2398 942048 835662 103512 2874 216626 146615 208737 174650 19303 19110 500000 4067568 3354012 2069238 2060077 6581472 6254464 53675 20448 53675 20448 X 2613748 2243650 3591601 3557918 322448 432448 6527797 6234016 6581472 6254464 X 14234 -276608 -31407 X X 0 1 X 1 0 X 246260 306598 640253 583413 686314 2462838 31000 26500 57500 246260 306598 640253 614413 712814 2520338 2520338 85423 73723 80809 70090 81609 391654 2911992 575154 0.86550 0.83270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3056890 110100 -42459 288945 2835586 2952421 20676 121443 37650 3056890 2583950 11430 473812 116771 2952421 2253650 29506 328782 27988 2583950 2230340 10000 38063 24753 2253650 0.77100 0.15300 0.07600 0 0 0 BENEFICIAL INTEREST 2026208 INTEREST RECEIVABLE 33869 2060077 X 689636 -276608 26500 -3290 -253398 943034 13248 13248 956282 983417 26500 28117 54617 928800 13248 13248 942048 PART V, LINE 4: ENDOWMENT FUNDS HELD BY THE FOUNDATION ARE RESTRICTED FOR SCHOLARSHIP AND FOR THE USE OF MOUNT WACHUSETT COMMUNITY COLLEGE. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EVENT COSTS 28,117. CHANGE IN VALUE OF BENEFICIAL INTEREST -31,407. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EVENT COSTS 28,117. MOTOWN EVENT 79051 65177 13874 7685 7188 FOUNDATION DINNER 30500 20550 9950 7013 852 1 5321 5321 5379 114872 85727 29145 14698 13419 28117 1028 0 MOUNT WACHUSETT COMMUNITY COLLEGE 144 GREEN STREET GARDNER MA 01440 046002284 115 835662 TO FULLFILL THE MISSION OF THE FOUNDATION BY SUPPORTING MOUNT WACHUSETT CC. 1 0 0 0 0 0 0 0 0 0 ANN MCDONALD DIRECTOR 0 0 0 192475 0 0 0 0 0 59321 0 251796 0 0 FORM 990, PART VI, SECTION B, LINE 11 AS PART OF THE FORM 990 REVIEW PROCESS, THE FORM 990 WILL BE DELEGATED TO A SUB-COMMITTEE WHERE A MEMBER OF THE FINANCE COMMITTEE WILL BE ABLE TO REVIEW THE RETURN FOR COMPLETENESS AND ACCURACY. ONCE THE FORM 990 HAS BEEN APPROVED BY THE FINANCE COMMITTEE IT CAN THEN BE FILED WITH THE INTERNAL REVENUE SERVICE AND THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. FORM 990, PART VI, SECTION B, LINE 12C PERSONS COVERED BY THIS POLICY WILL ANNUALLY DISCLOSE OR UPDATE TO THE CHAIRMAN OF THE BOARD OF DIRECTORS THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, SUCH AS A LIST OF FAMILY MEMBERS, SUBSTANTIAL BUSINESS OR INVESTMENTS HOLDINGS, AND OTHER TRANSACTION OR AFFILIATIONS WITH BUSINESSES AND OTHER ORGANIZATIONS OR THOSE OF FAMILY MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 THE MOUNT WACHUSSETT COMMUNITY COLLEGE FOUNDATION, INC. HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF MOUNT WACHUSSETT COMMUNITY COLLEGE. ALL SALARIES FOR THESE EMPLOYEES ARE PAID BY MOUNT WACHUSSETT COMMUNITY COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND THROUGH THE PUBLISHING OF PRINTED REPORTS. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF BENEFICIAL INTEREST -31,407. FORM 990, PART XII, LINE 2C: THE FOUNDATION DOES HAVE A FORMAL COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT. THE PROCESS OF OVERSEEING THE AUDIT AND THE RELATED STATEMENTS HAVE NOT CHANGED SINCE THE PRIOR YEAR. MOUNT WACHUSETT COMMUNITY COLLEGE 444 GREEN STREET GARDNER MA 01440 046002284 COMMUNITY COLLEGE - EDUCATION MA 115 N/A N/A 0 0 1 0 1 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 MOUNT WACHUSETT COMMUNITY COLLEGE B 835662 FMV MOUNT WACHUSETT COMMUNITY COLLEGE P 43922 FMV MOUNT WACHUSETT COMMUNITY COLLEGE L 30991 FMV MOUNT WACHUSETT COMMUNITY COLLEGE D 500000 FMV MOUNT WACHUSETT COMMUNITY COLLEGE N 0 FMV MOUNT WACHUSETT COMMUNITY COLLEGE O 26500 FMV