2014-05-01T09:27:00-05:00 2013-06-30 043243262 BERGER KATZ WEISHAUS NIKOSEY & LENZA 275 TURNPIKE ST CANTON MA 02021 990 2012-07-01 042103576 BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY BENJ 6174234630 41 BERKELEY STREET BOSTON MA 02116 ANTHONY BENOIT 6174234630 2014-04-30 1 Marc J Berger P00064665 7818216400 2012 2015-11-30 17:44:51Z ANTHONY BENOIT 41 BERKELEY ST BOSTON MA 02110 11299651 0 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, 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, though 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 "hi-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. 17 17 175 18 0 0 2286651 1509337 7238870 8561785 162137 271340 0 0 9687658 10342462 0 485468 0 0 5781884 5914096 39315 0 321017 3614296 3795003 9435495 10194567 252163 147895 7101559 7162903 2381536 2159226 4720023 5003677 X Addressing the skills gap crisis facing our country by featuring a pragmatic approach to developing curriculum that meets industry needs and ensures success through comprehensive whole-student support. The College strives to make enduring change through education and civic responsibility in our community. 0 0 9008110 485468 8561785 Providing college education at the level of Certificates, Associate Degrees, and Bachelor's Degrees to a largely underserved urban population. 9008110 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 24 0 175 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 MA X KEITH DROPKIN 6175881363 41 BERKELEY ST BOSTON MA 02116 ANNE BAILEY BERMAN 5.00 X X 0 0 0 MAUREEN POMPEO 5.00 X X 0 0 0 WILLIAM GHORMLEY 5.00 X X 0 0 0 KATHLEEN STONE 5.00 X X 0 0 0 PETER BENTINCK-SMITH 2.00 X 0 0 0 ATLAS EVANS 2.00 X 0 0 0 KAYE FERRITER 2.00 X 0 0 0 JAMES HUGHES 2.00 X 0 0 0 RYAN HUTCHINS 2.00 X 0 0 0 MICHAEL CONTOMPASIS 2.00 X 0 0 0 DAVID MILLER 2.00 X 0 0 0 CHRISTOPHER MORSS 2.00 X 0 0 0 CATHERINE O'NEIL 2.00 X 0 0 0 JUDY PAGLIUCA 2.00 X 0 0 0 PATRICIA RIEMITIS 2.00 X 0 0 0 SUSANNA SCHWEIZER 2.00 X 0 0 0 RALPH YOUNG 2.00 X 0 0 0 GEORGE CHRYSSIS 35.00 X X 209000 0 34520 KEITH DROPKIN 35.00 X 99377 0 23443 ANTHONY BENOIT 35.00 X 135000 0 5230 443377 0 63193 2 0 1 0 CMIT IT SOLUTIONS 110 BRAINTREE ST BOSTON MA 02134 COMPUTER CONSULTING 204574 1 331607 278474 899256 1509337 TUITION AND FEES 611310 7079810 7079810 AUXILARY INCOME 611310 1481975 1481975 8561785 84454 84454 1144075 957189 186886 186886 186886 10342462 8561785 0 271340 X 485468 485468 357523 178762 85027 93734 4527272 3971644 402699 152929 685964 601796 60982 23186 343337 293108 33631 16598 20858 20858 55500 55500 10463 10463 26067 26067 112401 94127 18274 279340 277519 1821 144841 116103 7242 21496 328795 312355 16440 795218 795218 24118 22441 1430 247 25902 25012 347 543 38969 38969 346763 339828 6935 118642 118642 ITEMIZED ON SCHEDULE O 488622 484758 3864 STUDENT TOOLS, BOOKS IN 437068 437068 UTILITIES 297954 291995 5959 STUDENT PROGRAM SERVICE 89198 89198 154284 152741 1543 10194567 9008110 865440 321017 591848 7541 294303 619659 8407159 5658627 2991313 2748532 3224095 3787171 7101559 7162903 764422 788017 203495 47495 1362280 1308046 51339 15668 2381536 2159226 X 1645938 1448268 1211677 1692913 1862408 1862496 4720023 5003677 7101559 7162903 147895 135759 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3224095 227525 390006 36467 17988 3787171 3091275 11185 49590 28625 3224095 2533534 166400 405341 14000 3091275 2372608 101350 84026 24450 2533534 1985452 500000 100344 12500 2372608 0.06120 0.49180 0.44700 0 0 640413 640413 3267599 3267599 0 1102066 59326 1042740 3397081 2331702 1065379 2748532 CAPITAL LEASE OBLIGATIONS 15668 15668 X 10478221 135759 135759 10342462 0 10342462 10194567 0 10194567 0 10194567 Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: FOOTNOTE M UNCERTAINTY IN INCOME TAXES:BFIT adopted the new standards for Accounting for Uncertainty in Income Taxes, which required BFIT to report any uncertain tax positions and to adjust its financial statements for the impact thereof. As of June 30, 2012, BFIT determined that it had no tax positions that did not meet the more likely than not threshold of being sustained by the applicable tax authority. BFIT files tax and information returns in the United States Federal and Massachusetts state jurisdictions. There returns are generally subject to examination by tax authorities for the last three years. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 The information is maintained on the college's website, in the catalog and in the student handbook 1 Externally funded scholarships for students attending BFIT 211 485468 The college maintains detailed records in its database of all scholarships awarded X X 0 0 0 0 0 0 0 0 1 0 GEORGE CHRYSSIS 209000 0 0 0 0 0 0 0 34520 0 243520 0 0 0 Part I, Line 8 Benjamin Franklin Institute of Technology entered into a contract with George Chryssis as President on November 17, 2010 SHELLEY DROPKIN SPOUSE OF CFO 68429 CONSULTING 0 X 1 9166 X COMPUTERS 40 20000 FAIR MARKET VALUE 0 0 0 Form 990, Part VI Section B, line 14: Benjamin Franklin Institute of Technology is in the process of developing a Document Retention & Destruction Policy Form 990, Part VI, Section B, line 11 The 990 is prepared by an outside accountant, reviewed by management, and then presented to the audit committee for their review Form 990, Part VI, Section B, line 12c Trustees are required to submit a Conflict of Interest Disclosure annually and report conflicts immediately, should they develop during the year Form 990, Part VI, Section B, line 15a Presidents employment contract was written in consultation with a search firm and approved by the board. Form 990, Part VI, Section C, line 18 UPON REQUEST Form 990, Part VI, Section C, line 19 UPON REQUEST DETAIL OF ITEMIZED EXPENSES: FORM 990 PART IX STATEMENT OF FUNCTIONAL EXPENSES DESCR Total expense Program Service Management EQUIPMENT LEASES 81,202 81,202 RECRUITING 17,750 17,750 BANK & CREDIT SERVICE FEES 38,641 34,777 3,864 BOOKS & SUBSCRIPTIONS 53,703 53,703 BAD DEBT EXPENSE 297,326 297,326 FRANKLIN INSTITUTE INC 41 BERKELEY STREET BOSTON MA 02116 222995201 FINANCIAL SUPPORT FOR BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY MA 501(C)(3) BENJAMIN FRANKLIN INSTITUTE OF TECHNOLOGY 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 FRANKLIN INST INC C 331607