2016-05-16T11:30:59-05:00 2015-06-30 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2014-07-01 042103576 Benjamin Franklin Institute of Technology % MAUREEN JOYCE BENJ 6174234630 41 BERKELEY STREET BOSTON MA 02116 Maureen Joyce CFO 6174234630 2016-05-16 true Robert J Butler Jr P00037953 6177237900 2016-05-16 2014 2016-08-17 19:52:53Z ANTHONY BENOIT 41 BERKELEY ST BOSTON MA 02116 13882928 false 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. 16 15 186 16 0 2579503 1847149 9771934 10201912 469539 305174 0 0 12820976 12354235 2068426 2482268 0 0 6287218 7016980 0 0 343415 3658028 3532484 12013672 13031732 807304 -677497 8875191 9125971 2647904 3614038 6227287 5511933 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 false false 11982657 2482268 10201912 Providing college education at the level of Certificates, Associate Degrees and Bachelor's Degrees to a largely underserved urban population. in the 2014-2015 academic year the Institute enrolled about 484 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 citizenship. 11982657 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true false false false false false false true false true false false false false true true false false true 828 0 true 186 true false false false false false false false false false false X 16 15 false false false false false false false true true false false true true true true true true true false false MA X X MAUREEN JOYCE 6175881363 41 BERKELEY ST BOSTON MA 02116 ANTHONY G BENOIT PRESIDENT 35.0 0.0 X X 173719 0 31678 RYAN HUTCHINS CHAIR 5.0 0.0 X X 0 0 0 JUDY PAGLIUCA CO-VICE CHAIR 5.0 0.0 X X 0 0 0 MAUREEN POMPEO CO-VICE CHAIR 5.0 0.0 X X 0 0 0 WILLIAM a GHORMLEY TREASURER 5.0 0.0 X X 0 0 0 KATHLEEN C STONE CLERK 5.0 0.0 X X 0 0 0 FELIX ARROYO - MAYOR'S REP TRUSTEE 2.0 0.0 X 0 0 0 PETER BENTINCK-SMITH TRUSTEE 2.0 0.0 X 0 0 0 ANNE BAILEY BERMAN TRUSTEE 2.0 0.0 X 0 0 0 DANIEL BONNETTE TRUSTEE 2.0 0.0 X 0 0 0 KAYE FERRITER TRUSTEE 2.0 0.0 X 0 0 0 DAVID FISCHER TRUSTEE 2.0 0.0 X 0 0 0 AMY LEDDY TRUSTEE 2.0 0.0 X 0 0 0 CHRIStopher MORSS TRUSTEE 2.0 0.0 X 0 0 0 PATRICIA RIEMITIS TRUSTEE 2.0 0.0 X 0 0 0 JOSEPH SHAKER TRUSTEE 2.0 0.0 X 0 0 0 DANIEL WEINGER TRUSTEE 2.0 0.0 X 0 0 0 KEITH DROPKIN CHIEF FINANCIAL OFFICER 35.0 0.0 X 106699 0 24148 Brian W Bicknell Dean of Academic Affairs 35.0 0.0 X 100980 0 10311 Michael Bosco Dean of Student Affairs 35.0 0.0 X 103080 0 10521 Anne M Cademenos Chief Development Officer 35.0 0.0 X 120059 0 13478 604537 0 90136 5 false true false CMIT Solutions 119 Braintree St Ste 601 BOSTON MA 02134 it services 239862 1 120265 1726884 278708 1847149 TUITION AND FEES 611710 8913712 8913712 AUXILIARY INCOME 611710 366920 366920 STUDENT PROVISIONS 611710 921280 921280 10201912 88385 85578 0 0 0 0 0 1745482 1528693 216789 216789 216789 0 0 0 0 12354235 10201912 302367 0 2482268 2482268 0 0 296240 205240 91000 93200 46600 46600 5226047 4877479 125153 223415 371694 346888 17083 7723 625472 590206 26626 8640 404327 385720 12042 6565 0 18906 18906 63832 63832 0 0 41044 41044 188623 188623 397478 397478 186220 186220 253327 246955 300 6072 0 740096 698391 41705 13931 13931 0 16418 16418 55406 49865 5541 0 330000 297000 33000 68588 68588 STUDENT TOOLS,BOOKS,INSURANCE 555366 555366 BAD DEBT EXPENSE 250000 250000 EQUIPMENT LEASES 63982 63982 FUNCTION EXPENSES 44312 44312 244955 244955 13031732 11982657 705660 343415 104861 43594 0 0 1110000 1195616 218447 266865 0 0 0 0 0 0 0 0 47338 56658 9049729 6315469 2747954 2734260 4636591 4818978 0 0 0 0 0 0 10000 10000 8875191 9125971 925182 911651 0 0 158788 189678 0 0 0 0 0 0 468734 450709 0 0 1095200 2062000 2647904 3614038 X 1792596 898673 1422198 1598767 3012493 3014493 6227287 5511933 8875191 9125971 -677497 -37857 X false true X true true true X 0 2286651 1509337 2579503 1847149 8222640 0 0 0 2286651 1509337 2579503 1847149 8222640 1177772 7044868 0 80284 84454 85602 88385 338725 0 0 8561365 35774501 0.82287 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4636591 2000 264509 65565 18557 4818978 3787171 77450 829575 39049 18557 4636590 3224095 227525 390006 36467 17988 3787171 3091275 11185 49590 28625 3123425 2533534 166400 405341 14000 3091275 0.28066 0.62555 0.09380 false false 640413 640413 3267599 3267599 1102066 59326 1042740 3713387 2662280 1051107 2734260 0 LINE OF CREDIT 2062000 2062000 X 9793066 -37857 -37857 9830923 41044 2482268 2523312 12354235 10508420 10508420 41044 2482268 2523312 13031732 schedule d, part x, line 2 FOOTNOTE FOR UNCERTAINTY IN INCOME TAXES: 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 POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. schedule d, part xi, line 4b and part xii, line 4b UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 2,482,268 true true true true true true true false false false false false false false false true false true Publication of Racially Nondiscriminatory Policy The information is maintained on the college's website, in the catalog, and in the student handbook. true SCHOLARSHIPS FOR STUDENTS 535 2482268 Schedule I, Part I, Line 2 The college maintains detailed records in its database of all scholarships awarded. X X false false false false false false false false false ANTHONY G BENOIT PRESIDENT 173719 0 0 0 0 0 18200 0 13478 0 205397 0 0 0 Part I, line 4a The President has a severance agreement in his contract that provides severance based on annual compensation, paid only in the event of involuntary termination. No amount was paid to the President under this agreement during the calendar year ended December 31, 2014. SHELLEY DROPKIN SPOUSE OF CFO 93200 employment false Part IV, line 1 Transactions between Benjamin Franklin Institute of Technology and Shelley Dropkin were made at arm's length and in the ordinary course of business. X 5 278708 publicly traded false false false Schedule M, Part I, Line 9, Column b The amount reported on Schedule M Part I column (b) represents the number of contributions. Organization's Mission Form 990, Part III, Line 1 curricula, BFIT prepares graduates for work, life-long learning, and citizenship. Form 990 Review Process Form 990, Part VI, 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. Conflict of Interest Policy Monitoring & Enforcement Form 990 Part VI, 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 authorized by the board of trustees. Should a conflict arise, the executive committee of 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. Process for Determining Compensation Form 990, Part VI, Line 15A 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 and decision is documented in the minutes of the executive committee and board of trustees. How Documents are Made Available to the Public Form 990, Part VI, 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 MA 501(c)(3) 11-I BFIT true false false false false false false false false false false false false true true false false false false