2014-07-14T09:18:04-07:00 2013-08-31 990 2012-09-01 510163080 CAMBRIDGE COLLEGE INC CAMB 6178681000 1000 Massachusetts Ave Cambridge MA 02138 Helen Ouellette 6178730689 2014-07-14 2012 2015-11-30 17:44:51Z Cambridge College 1000 Massachusetts Ave Cambridge MA 02138 39033604 0 X www.cambridgecollege.edu X 1974 MA The mission of the College is 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. 15 12 863 0 0 0 542356 422089 34324937 28536948 580748 576211 889089 635999 36337130 30171247 390206 392138 0 0 23819819 22679223 0 0 545224 13234209 11018251 37444234 34089612 -1107104 -3918365 32165229 29589226 4504823 5252513 27660406 24336713 The mission of Cambridge College is 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. 0 0 28283175 392138 30245299 The Mission of Cambridge College is to provide academically excellent, time efficient and cost effective higher education for a diverse population of working adults for whom these opportunities may have been limited or denied 0 0 0 28283175 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 104 0 1 863 1 0 0 0 0 0 0 X 15 12 1 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA GA MA PR TN VA X X Lynn Wood 6178681000 Cambridge College 1000 Massachusetts Ave Cambridge MA 02138 Derek Davis 1.5 0 X 0 0 0 Pedro Arce 0.5 0 X 0 0 0 Allan Cohen 0.5 0 X 0 0 0 John K Dineen 0.5 0 X 0 0 0 Jesse Solomon 0.5 0 X 0 0 0 Susan Ifill 1.0 0 X 0 0 0 Jonathan Larsen 1.0 0 X 0 0 0 Virginia Loeb 1.0 0 X 0 0 0 Bettis Rainford 0.5 0 X 0 0 0 Katherine Ryan 0.5 5 X 0 0 0 Thomas Snyder 0.5 0 X 0 0 0 Janet Whitla 0.5 0 X 0 0 0 Luis Yepez 0.5 0 X 0 0 0 April Ryan 0.5 0 X 0 0 0 John Fox 0.5 X 0 0 0 Don Davies 0 0 X 0 0 0 Peggy Dulany 0 0 X 0 0 0 Norma Fink 0 0 X 0 0 0 Joan Goldsmith 0 0 X 0 0 0 Ronald Homer 0 0 X 0 0 0 Elizabeth McCormack 0 0 X 0 0 0 Anne Peretz 0 0 X 0 0 0 Susan Rothenberg 0 0 X 0 0 0 Blenda Wilson 0 0 X 0 0 0 Deborah Jackson 35 0 X 316230 0 47941 Helen Ouelette 35 0 X 90059 0 0 Ruth Yvette Clark 35 0 X 149384 0 28137 Elwood Robinson 35 0 X 89987 0 4518 Ariadne Valsamis 35 0 X 43304 0 5694 Elaine Lapomardo 35 0 X 117037 0 32696 Sandra Bridwell 35 0 X 129453 0 19284 Niti Seth 35 0 X 127929 0 10222 Richard Papazian 35 0 X 118667 0 10222 James Lee 35 0 X 117428 0 25656 Nathaniel Sheppard 35 0 X 106428 0 25123 Kim Gazzola 35 0 X 74461 0 13814 Patricia Denn 35 0 X 45172 0 9307 Joe Lee 35 0 X 28412 0 1834 1553951 0 234448 13 1 1 0 IKON Managemnt Services PO BOX 534777 Atlanta GA 30353 Mail and Copying Services 246475 Longwood Security Services 429 Newbury Street Boston MA 02115 Security Services 390364 China Access 86 Green Meadow Drive Longmeadow MA 01106 Consultant 133937 Development Guild 233 Harvard Street Brookline MA 02446 Consulting 142575 Greenpages PO Box 843435 Boston MA 02284 Information Technology Support 130213 6 0 0 0 0 0 422089 0 422089 Tuition and Fees 611310 28063500 28063500 0 0 Year Up Revenue 611310 162012 162012 0 0 Educational workshops 611310 13174 13174 0 0 L2L Fees 611310 61152 61152 0 0 Other Academic Revenue 611310 237110 237110 0 0 0 0 0 0 28536948 295526 295526 0 0 0 0 0 0 0 0 0 0 1527016 0 943495 0 583521 0 583521 0 0 583521 8199547 0 7918862 0 280685 0 280685 0 0 280685 0 0 0 0 0 0 0 0 0 0 0 0 Other Income 611310 52478 52478 0 0 0 0 0 0 52478 30171247 28884952 0 864206 392138 392138 1111418 207714 716697 187007 17482351 15968443 1326175 187733 1085779 993876 83787 8116 1699836 1100226 575928 23682 1299839 1188113 97534 14192 0 92917 92917 97193 97193 1483368 916897 476681 89790 1103268 1080210 14454 8604 747525 647495 96909 3121 368187 318777 45531 3879 4099101 3987015 112086 336226 323204 12046 976 65320 29732 27575 8013 35736 29091 6645 726028 636739 89289 267505 520 266985 Bad debt Expense 700000 0 700000 0 Library Costs 243302 243302 0 0 License Permit and Fees 44964 39682 3627 1655 Professional Memberships 71890 10245 57580 4065 535721 169756 361574 4391 34089612 28283175 5261213 545224 60150 159767 5474303 1974263 1106369 946967 3021296 2504809 765087 800923 26742134 19589841 6862162 7152293 13514294 14716153 1361568 1334051 32165229 29589226 3167295 2375266 0 773968 1337528 2103279 4504823 5252513 X 16297788 12479678 3099676 3549924 8262942 8307111 27660406 24336713 32165229 29589226 X -3918365 566202 0 0 0 28470 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12203627 61075 982173 265378 0 0 12981497 11015286 147700 1099315 58674 0 0 12203627 10069687 32500 999160 86061 0 0 11015286 9323750 388078 375359 17500 0 0 10069687 8992329 1008659 -585793 91445 0 0 9323750 0.17 0.83 0 0 0 0 1394000 1394000 0 10557968 6825395 3732573 0 5592810 4528487 1064323 0 6361125 5810931 550194 0 2836231 2425028 411203 7152293 0 Line of Credit 1100000 Capital Lease Obligations 466866 Annuity Liability 263408 Tuition Deposits 215146 Perkins Loans Refundable Advance 55460 Tenant Security Deposits 2399 2103279 X 31317275 566202 0 0 -363669 202533 31114742 0 -943495 -943495 30171247 34640968 0 0 0 943495 943495 33697473 0 392139 392139 34089612 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The endowed funds are used as specified by donor restrictions. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College adopted the provisions for accounting for Uncertainty in Income Tax. The provision clarifies the accounting and reporting for income taxes where interpretation of the law may be uncertain under the provisions. The College may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The adoption of the provisions did not have any effect on the financial statements It is the College's policy to record estimated interest and penalties (if any) as part of management and general expense. Management believes that the College's income tax returns for fiscal years ending August 31, 2009 and prior are no longer subject to examination by tax authorities in its major tax jurisdictions. SchD_P11_S00_L02d Schedule D, Part XI, Line 2d Grant allocations ($392,138); Change in value of split interest agreements $28,469 SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Rental expenses SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Rental expenses SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Grant Allocations 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The College publicizes it's racially non-discrimination policy throughout the school website and catalogue. SchE_P01_S00_L06 Schedule E, Part I, Line 6 United States Department of Education Student Financial Aid Cluster: Federal Workstudy Program; Federal PELL Grants, Federal Supplemental Opportunity Grants: Federal Perkins Loan Program: Federal TEACH Grants and Federal Direct Loans East Asia and the Pacific 0 0 Program Services English Language Instruction 0 0 0 0 0 0 0 0 0 0 1 Scholarships for teachers and social services students in the Boston area seeking to advance their careers through education 53 56530 0 Per the donor directions, financial assistance for women making life changes through education 47 70844 0 Per the donor instructions, scholarships for students working toward civil rights and social justice in their personal lives or education. 14 34000 0 General scholarships, based on financial need. 193 176614 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 All funds donated by individuals, corporations or foundations are recorded as temporarily restricted until funds are identified as applicable financial aid for a student. All awards are reviewed by a committee under the direction of the Financial Aid Director and to ensure accurate criteria compliance under a donor's direction. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Deborah Jackson 274638 0 0 0 41592 0 30000 0 17149 0 363379 0 0 Ruth Yvette Clark 149204 0 0 0 180 0 12300 0 15657 0 177341 0 0 Kim Gazzola 74324 0 0 0 136 0 6135 0 7543 0 88138 0 0 Patricia Denn 44586 0 0 0 586 0 3693 0 5028 0 53893 0 0 0 Joe Lee 28285 0 0 0 127 0 1459 0 0 0 29871 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a President Deborah Jackson received $36,000 in housing allowance SchJ_P01_S00_L04 Schedule J, Part I, Line 4 President Deborah Jackson participates in a 457(f) plan. The college makes an annual contribution of $10,000 to this plan. RDC Properties-Bettis Rainsford Board of Trustee Member 251000 See Part V Statement 1 0 60 Island LLC-Luis Yepez Board of Trustee Member 155000 See Part V 0 SchL_P01_S00_L01 Schedule L, Part I, Line 1 Owner of RDC Properties, Bettis Rainsford, is a member of the Board of Trustees. The College leases it's Georgia classroom space from RDC Properties at substantially the same rate as non related parties SchL_P01_S00_L02 Schedule L, Part I, Line 2 The owner of 60 Island LLC, Luis Yepez is a member of the Board of Trustees. The college leases classroom and office space from 60 Island LLC. Luis Yepez became the owner after the College entered into the lease agreement for it's Lawrence MA site. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Two members of the Board of Trustees, John Dineen and Katherine Ryan are related. They still meet the requirements of being independent. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The 990 was prepared by the Manager of Grants, Compliance and Payroll and was reviewed by the Controller and Vice President for Finance and Administration as well as the President. In addition the 990 was reviewed by the Finance Committee of the Board of Trustees prior to filing. Subsequent to filing a copy of the Form 990 was provided to the entire Board of Trustees. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The College uses a Conflict of Interest Disclosure Form to monitor compliance with the Conflict of Interest Policy. Annually officers and trustees are required to complete the Conflict of Interest form. The process and compliance is monitored by the Office of the General Counsel. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The College used the following procedure for the hiring of it's President. The Executive Committee served as the compensation committee. Human Resources provided a compensation analysis for similarly situated Presidential salaries. The compensation of the previous President was used as a guide. A written contract was negotiated and the employment and compensation package was then approved by the Board of Trustees. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 As Requested F990_P11_S00_L09 Form 990, Part XI, Line 9 Change in Split Interest Agreement