2015-05-12T15:54:25-05:00 2014-06-30 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2013-07-01 042103576 Benjamin Franklin Institute of Technology % KEITH DROPKIN BENJ 6174234630 41 BERKELEY STREET Suite BOSTON MA 02116 KEITH DROPKIN CFO 6174234630 2015-04-28 true Robert J Butler Jr P00037953 6174234630 2013 2016-04-25 22:37:26Z ANTHONY BENOIT 41 BERKELEY ST BOSTON MA 02116 12820976 false X www.bfit.edu X 1913 MA Benjamin Franklin Institute of Technology is one of New England's oldest colleges of engineering and industrial technologies. 17 16 181 19 0 1509337 2579503 8561785 9771934 271340 469539 0 0 10342462 12820976 485468 2068426 0 0 5914096 6287218 0 0 389761 3795003 3658028 10194567 12013672 147895 807304 7279907 8875191 2276230 2647904 5003677 6227287 X OUR CURRICULA FOCUSES ON TRAINING STUDENTS TO DIAGNOSE AND SOLVE PROBLEMS, WHILE BECOMING LEADERS IN TECHNOLOGY INDUSTRIES. AS HIGH-SKILLED TECHNICIANS, THEY KNOW HOW TO MAKE THINGS WORK: AS GOOD CITIZENS, THEY HERALD CIVIC RESPONSIBILITIES IN THEIR COMMUNITIES. false false 10776985 2068426 9771934 Providing college education at the level of Certificates, Associate Degrees and Bachelor's Degrees to a largely underserved urban population. 10776985 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 30 0 true 181 true false false false false false false false false false false X 17 16 false false false false false false false true true false false true true true true true true true false false MA X X KEITH DROPKIN 6175881363 41 BERKELEY ST BOSTON MA 02116 ANTHONY BENOIT PRESIDENT 35.0 X X 145810 0 20310 RYAN HUTCHINS CHAIR 5.0 X X 0 0 0 JUDY PAGLIUCA CO-VICE CHAIR 5.0 X X 0 0 0 MAUREEN POMPEO CO-VICE CHAIR 5.0 X X 0 0 0 WILLIAM GHORMLEY TREASURER 5.0 X X 0 0 0 ATLAS EVANS TREASURER - THRU 6/12/2014 5.0 X X 0 0 0 KATHLEEN C STONE CLERK 5.0 X X 0 0 0 FELIX ARROYO - MAYOR'S REP TRUSTEE 2.0 X 0 0 PETER BENTINCK-SMITH TRUSTEE 2.0 X 0 0 ANNE BAILEY BERMAN TRUSTEE 2.0 X 0 0 DANIEL BONNETTE TRUSTEE 2.0 X 0 0 MICHAEL G CONTOMPASIS-Myr Rep TRUSTEE - THRU 6/12/2014 2.0 X 0 0 KAYE FERRITER TRUSTEE 2.0 X 0 0 DAVID FISCHER TRUSTEE 2.0 X 0 0 AMY LEDDY TRUSTEE 2.0 X 0 0 DAVID MILLER TRUSTEE - THRU 6/12/2014 2.0 X 0 0 CHRIS MORSS TRUSTEE 2.0 X PATRICIA RIEMITIS TRUSTEE 2.0 X 0 0 JOSEPH SHAKER TRUSTEE 2.0 X 0 0 DANIEL WEINGER TRUSTEE 2.0 X 0 0 KEITH DROPKIN CHIEF FINANCIAL OFFICER 35.0 X 98129 0 23996 243939 0 44306 1 false true false CMIT IT SOLUTIONS 110 BRAINTREE ST BOSTON MA 02134 COMPUTER CONSULTING 195699 1 41706 2537797 93100 2579503 TUITION AND FEES 611710 8533455 8533455 AUXILIARY INCOME 611710 326696 326696 STUDENT PROVISIONS 611710 911783 911783 9771934 85602 85601 0 0 0 0 0 383937 0 383937 383937 0 0 0 0 12820976 9771934 85601 0 2068426 2068426 0 0 329152 164576 84558 80018 89558 44779 44779 4737040 4112444 400329 224267 283135 254908 27615 612 479305 405763 54048 19494 369028 306790 39718 22520 0 21415 21415 49850 49850 0 0 32610 32610 417900 357150 30000 30750 187409 183637 3772 162534 145942 8420 8172 320736 304699 16037 0 783349 778588 4761 18268 17981 230 57 0 7856 6725 1032 99 45516 45516 0 326842 320305 6537 102880 82304 20576 STUDENT TOOLS,BOOKS,INSURANCE 500488 500488 BAD DEBT EXPENSE 246122 246122 EQUIPMENT LEASES 72657 72657 STUDENT PROGRAM SERVICES 59691 59691 301905 297494 4411 12013672 10776985 846926 389761 7542 104861 0 0 125000 1110000 611662 218447 0 0 0 0 0 0 0 0 0 47338 8733423 5985469 2748532 2747954 3787171 4636591 0 0 0 0 0 0 0 10000 7279907 8875191 788017 925182 0 0 164499 158788 0 0 0 0 0 0 486068 468734 0 0 837646 1095200 2276230 2647904 X 2002374 1792596 113755 1422198 2887548 3012493 5003677 6227287 7279907 8875191 807304 416306 X false true X true true true X 0 0 2286651 1509337 2579503 6375491 0 0 0 0 2286651 1509337 2579503 6375491 1260771 5114720 0 0 80284 84454 85602 250340 0 0 6625831 25572589 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3787171 77450 829575 39049 18557 4636590 3224095 227525 390006 36467 17988 3787171 3091275 11185 49590 28625 3123425 2533534 166400 405341 14000 3091275 2372608 101350 84026 24450 2533534 0.25600 0.65000 0.09400 false false 640413 640413 3267599 3267599 1102066 59326 1042740 3397081 2332280 1064801 2747954 0 CAPITAL LEASE OBLIGATIONS 0 LINE OF CREDIT 1095200 1095200 X 11136246 416306 416306 10719940 32610 2068426 2101036 12820976 9912636 9912636 32610 2068426 2101036 12013672 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 2,068,426 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 The information is maintained on the college's website, in the catalog, and in the student handbook. true SCHOLARSHIPS FOR STUDENTS 603 2068426 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 BENOIT PRESIDENT 145810 0 0 0 0 0 6875 0 13435 0 166120 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, 2013. SHELLEY DROPKIN SPOUSE OF CFO 89558 CONSULTING 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 6 73649 publicly traded 0 false false false Form 990, Part III, Line 1 Benjamin Franklin Institute of Technology is one of New England's oldest colleges of engineering and industrial technologies, started with a bequest from Benjamin Franklin and a gift from Andrew Carnegie. Our goal is to create a career path by developing a learning environment, through industry partnerships, shared resources, and effective classroom and laboratory practices, which sets the standard for a job-oriented technical education, at both the associate and bachelor degree level. The College attracts a diverse student body, racially, ethnically and economically. Because our student body has unique needs, we offer a "high tech, high-touch" approach, caring for each student as a whole, as we create the personalized learning environment which every student needs. Because of our emphasis on student success, we provide comprehensive academic and financial support to our students, leading to a high rate of graduation and gainful employment thereafter. 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. 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. 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. Form 990, Part VI, Line 19 The organization's governing documents, conflict of interest policy, and financial statements are available upon request. Franklin Institute Inc 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 false true true false false false false