NEW ENGLAND INSTITUTE OF TECHNOLOGY: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- NEW ENGLAND INSTITUTE OF TECHNOLOGY (EIN 05-0312747)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-09
- IRS object ID
- 201301299349301710
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-09T12:53:16-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 571139864 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DISANTO PRIEST & CO | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 117 METRO CENTER BOULEVARD 3000 | AddressLine1 |
| City | WARWICK | City |
| State | RI | State |
| ZIP Code | 02886 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 050312747 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW ENGLAND INSTITUTE OF TECHNOLOGY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NEWE | NameControl |
| Phone | 4014677744 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE NEW ENGLAND TECH BOULEVARD | AddressLine1 |
| City | EAST GREENWICH | City |
| State | RI | State |
| ZIP Code | 02818 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROBERT THEROUX | Name |
| Title | VICE PRESIDENT OF FINANCE | Title |
| Phone | 4014677744 | Phone |
| Date Signed | 2013-05-07 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | THOMAS N FORSYTHE CPA | Name |
| PTIN | P00007567 | PTIN |
| Phone | 4019212000 | Phone |
| Date Prepared | 2013-05-07 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | RICHARD I GOUSE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE NEW ENGLAND TECH BOULEVARD | AddressLine1 |
| City | EAST GREENWICH | City |
| State | RI | State |
| ZIP Code | 02818 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 106877820 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.NEIT.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1970 | YearFormation |
| State Legal Domicile | RI | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF NEW ENGLAND INSTITUTE OF TECHNOLOGY (NEIT) IS TO PROVIDE SPECIALIZED ASSOCIATE, BACHELOR, AND MASTER'S DEGREE PROGRAMS WHICH PREPARE STUDENTS FOR CAREERS IN TECHNOLOGY. THROUGH THE COMBINATION OF TECHNICAL COURSES AND AN INTEGRATED LIBERAL ARTS CORE, THE PROGRAMS EMPHASIZE THE RELEVANCE OF CONTINUOUS LEARNING TO PERSONAL AND PROFESSIONAL GROWTH. UPON SUCCESSFUL COMPLETION, GRADUATES ARE PREPARED TO ENTER THE WORKFORCE OR TO CONTINUE THEIR EDUCATION. AS AN EXTENSION OF THE PRIMARY MISSION, NEIT OFFERS THE OPPORTUNITY TO PURSUE TECHNOLOGICAL STUDIES TO SATISFY PERSONAL INTERESTS.AS AN INSTITUTION PRIMARILY DEVOTED TO TEACHING AND THROUGH ITS OPEN ADMISSION POLICY, NEIT PROVIDES OPPORTUNITIES FOR STUDENTS FROM DIVERSE EDUCATIONAL BACKGROUNDS AND WITH VARYING LEVELS OF ABILITY TO STUDY IN A VARIETY OF TECHNOLOGICAL FIELDS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 10 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 8 | NbrIndependentVotingMembers |
| Total Nbr Employees | 704 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 24038 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 9349 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 222401 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 323455 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 68633150 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 64647055 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1788282 | InvestmentIncomePriorYear |
| Investment Income Current Year | -628642 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 24186 | OtherRevenuePriorYear |
| Other Revenue Current Year | 37569 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 70668019 | TotalRevenuePriorYear |
| Total Revenue Current Year | 64379437 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 28976755 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 29741781 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 24137210 | OtherExpensePriorYear |
| Other Expenses Current Year | 24251623 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 53113965 | TotalExpensesPriorYear |
| Total Expenses Current Year | 53993404 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 17554054 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 10386033 | RevenuesLessExpensesCY |
| Total Assets BOY | 270844391 | TotalAssetsBOY |
| Total Assets EOY | 271376584 | TotalAssetsEOY |
| Total Liabilities BOY | 69641432 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 61498132 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 201202959 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 209878452 | NetAssetsOrFundBalancesEOY |
| Mission Description | GENERAL AND TECHNICAL EDUCATION SERVICES | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 53993404 | Expense |
| Revenue | 64647055 | Revenue |
| Description | GENERAL AND TECHNICAL EDUCATION SERVICES | Description |
| Total Program Service Expense | 53993404 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 30 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 704 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 10 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 8 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW ENGLAND INSTITUTE OF TECHNOLOGY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4014677744 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE NEW ENGLAND TECH BOULEVARD | AddressLine1 |
| City | EAST GREENWICH | City |
| State | RI | State |
| ZIP Code | 02818 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (21 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| DR WILLIAM CROASDALE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JOSEPH DEANGELIS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| FRANCIS X FLAHERTY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| STEVEN L MELTZER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM H RIZZINI | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ROBERT SHAPIRO | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| THOMAS J CELONA | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| PHILLIP KYDD | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| RICHARD I GOUSE | |||||||
| PRESIDENT & TRUSTEE | 55.00 | X | 624979 | 0 | 113488 | X | |
| SETH KURN | |||||||
| EXEC. VICE PRES. | 55.00 | X | 394422 | 0 | 78154 | X | |
| CHERYL C CONNORS | |||||||
| SENIOR V.P. FOR FINANCIAL AFFAIRS & TREASURER | 55.00 | 266325 | 0 | 71734 | X | ||
| ROBERT THEROUX | |||||||
| VICE PRESIDENT | 50.00 | 229901 | 0 | 65287 | X | ||
| PHILLIP PARSONS | |||||||
| VICE PRESIDENT | 45.00 | 170327 | 0 | 24961 | X | ||
| CATHERINE KENNEDY | |||||||
| VICE PRESIDENT | 45.00 | 122814 | 0 | 12629 | X | ||
| STEVEN KITCHIN | |||||||
| VICE PRESIDENT | 45.00 | 120376 | 0 | 12210 | X | ||
| THOMAS WYLIE | |||||||
| PROVOST | 50.00 | 195117 | 0 | 11173 | X | ||
| DOUGLAS SHERMAN | |||||||
| ASSOCIATE PROVOST | 45.00 | 179634 | 0 | 9216 | X | ||
| MICHAEL CARUSO | |||||||
| ASSOC. DIR. ADMISSIONS | 45.00 | 123597 | 0 | 21731 | X | ||
| STANLEY BAILEY | |||||||
| C.I.O. | 40.00 | 128252 | 0 | 7831 | X | ||
| MARK D BLONDIN | |||||||
| DIRECTOR OF ADMISSIONS | 40.00 | 107294 | 0 | 20963 | X | ||
| THOMAS THIBODEAU | |||||||
| ASSISTANT PROVOST | 40.00 | 106187 | 0 | 21800 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2769225 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 471177 | TotalOtherCompensation |
| Number Individuals GT100 K | 24 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| DENNIS LEONARDO | |||||
| 2500 GAR HIGHWAY | SWANSEA | MA | 02777 | CONSTRUCTION MANAGEMENT | 122722 |
| ADLER POLLOCK & SHEEHAN PC | |||||
| 1 CITIZENS PLAZA 8TH FLOOR | PROVIDENCE | RI | 02903 | LEGAL SERVICES | 112661 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| All Other Contributions | 323455 | AllOtherContributions |
| Noncash Contributions | 34375 | NoncashContributions |
| Total Contributions | 323455 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION INCOME | 611710 | 63166309 | 63166309 |
| BOOKS AND SUPPLIES | 611710 | 1165625 | 1165625 |
| MISC. OTHER INCOME | 611710 | 315121 | 315121 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 64647055 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 772572 | TotalRevenueColumn |
| Related Or Exempt Function Income | 748534 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 24038 | UnrelatedBusinessRevenue |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 39646858 | Securities |
| Other | 1423700 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 39955291 | Securities |
| Other | 2516481 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -308433 | Securities |
| Other | -1092781 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -1401214 | TotalRevenueColumn |
| Related Or Exempt Function Income | -1401214 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 64180 | GrossIncomeFundraisingEvents |
| Fundraising Direct Expenses | 26611 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 37569 | TotalRevenueColumn |
| Exclusion | $37,569 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 64379437 | TotalRevenueColumn |
| Related Or Exempt Function Income | 63994375 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 24038 | UnrelatedBusinessRevenue |
| Exclusion | $37,569 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2149709 | Total |
| Program Services | 2149709 | ProgramServices |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 21991543 | Total |
| Program Services | 21991543 | ProgramServices |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 724685 | Total |
| Program Services | 724685 | ProgramServices |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2882130 | Total |
| Program Services | 2882130 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1993714 | Total |
| Program Services | 1993714 | ProgramServices |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 188820 | Total |
| Program Services | 188820 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 85853 | Total |
| Program Services | 85853 | ProgramServices |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 169002 | Total |
| Program Services | 169002 | ProgramServices |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 864395 | Total |
| Program Services | 864395 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2834377 | Total |
| Program Services | 2834377 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3161195 | Total |
| Program Services | 3161195 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 531320 | Total |
| Program Services | 531320 | ProgramServices |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3870140 | Total |
| Program Services | 3870140 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 349328 | Total |
| Program Services | 349328 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2274868 | Total |
| Program Services | 2274868 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4337083 | Total |
| Program Services | 4337083 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 324488 | Total |
| Program Services | 324488 | ProgramServices |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| STUDENT SCHOLARSHIPS & | 2944884 | 2944884 |
| ENROLLMENT EXPENSES | 1099808 | 1099808 |
| TEMPORARY LABOR | 854087 | 854087 |
| DUES & SUBSCRIPTIONS | 248269 | 248269 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 113706 | Total |
| Program Services | 113706 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 53993404 | Total |
| Program Services | 53993404 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 97665765 | BOY |
| EOY | 94765983 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 135363 | BOY |
| EOY | 36377 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2861536 | BOY |
| EOY | 3066769 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 280650 | BOY |
| EOY | 298121 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 850743 | BOY |
| EOY | 826328 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 174986100 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 42159176 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 132787192 | BOY |
| EOY | 132826924 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36262542 | BOY |
| EOY | 39499020 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 600 | BOY |
| EOY | 57062 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 270844391 | BOY |
| EOY | 271376584 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10024768 | BOY |
| EOY | 3626731 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 54605000 | BOY |
| EOY | 53245000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3970000 | BOY |
| EOY | 1985000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1041664 | BOY |
| EOY | 2641401 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 69641432 | BOY |
| EOY | 61498132 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 200102959 | BOY |
| EOY | 208778452 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1100000 | BOY |
| EOY | 1100000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 201202959 | BOY |
| EOY | 209878452 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 270844391 | BOY |
| EOY | 271376584 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 10386033 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -1710540 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1100000 | BeginningOfYearBalance |
| End Of Year Balance | 1100000 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1100000 | BeginningOfYearBalance |
| End Of Year Balance | 1100000 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 1100000 | BeginningOfYearBalance |
| End Of Year Balance | 1100000 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 0.00520 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 42089777 | InvestmentCostOrOtherBasis |
| Book Value | 42089777 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 100036381 | InvestmentCostOrOtherBasis |
| Depreciation | 19128246 | Depreciation |
| Book Value | 80908135 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 32569511 | InvestmentCostOrOtherBasis |
| Depreciation | 23030930 | Depreciation |
| Book Value | 9538581 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 290431 | InvestmentCostOrOtherBasis |
| Book Value | 290431 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 132826924 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (6 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| MUTUAL FUNDS | 4890917 | F |
| EQUITY SECURITIES | 9817901 | F |
| FIXED INCOME SECURITIES AND BONDS | 13288366 | F |
| LIMITED LIABILITY PARTNERSHIPS | 9061278 | F |
| LIMITED LIABILITY COMPANIES | 1340558 | F |
| PERMANENTLY RESTRICTED EQUITY SECURITIES | 1100000 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 39499020 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | OBLIGATION UNDER INTEREST RATE SWAP | Description |
| Amount | $2,641,401 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2641401 | TotalOfAmounts |
| Total Revenue | 64379437 | TotalRevenue |
| Total Expenses | 53993404 | TotalExpenses |
| Excess Or Deficit For Year | 10386033 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -110803 | NetUnrealizedGLOnInvestments |
| Other | -$1,599,737 | OtherAmount |
| Total Adjustments | -1710540 | TotalAdjustments |
| Excess Or Deficit Per FS | 8675493 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 64099631 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -110803 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | -110803 | RevenueNotRptdF990 |
| Revenue Subtotal | 64210434 | RevenueSubtotal |
| Investment Expenses Not Included | 169003 | InvestmentExpensesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 169003 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 64379437 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 53824401 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 53824401 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 169003 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 169003 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 53993404 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE INSTITUTE HAS AN ENDOWMENT FUND CONSISTING OF INVESTMENTS AND MONEY MARKET FUNDS OF WHICH $1,100,000 IS PERMANENTLY RESTRICTED. THE PERMANENTLY RESTRICTED PORTION OF THE ENDOWMENT FUND IS TO BE HELD INDEFINITELY, THE INCOME FROM WHICH IS EXPENDABLE TO ESTABLISH THE COMMUNITY SERVICE ENRICHMENT PROGRAM, AS A PERMANENT PART OF THE INSTITUTE'S CURRICULUM. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE INSTITUTE HAS ADOPTED THE FASB ASC TOPIC,"ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR RECOGNIZING, MEASURING, PRESENTING AND DISCLOSING IN THE CONSOLIDATED FINANCIAL STATEMENTS TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. AT JUNE 30, 2012, MANAGEMENT BELIEVES NO SUCH PROVISIONS ARE NECESSARY. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | DECREASE IN FAIR VALUE OF SWAP -1,599,737. | |
| OTHER ASSETS LISTED IN PART VI - LAND, BUILDINGS AND EQUIPMENT: CONSTRUCTION IN PROGRESS |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | NOTICE OF NONDISCRIMINATION POLICY PUBLISHED IN THE PROVIDENCE JOURNAL BULLETIN SERVING THE GREATER PROVIDENCE AREA. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | THE INSTITUTE RECEIVES AID FOR ITS STUDENTS UNDER THE PROVISIONS OF TITLE IV OF THE HIGHER EDUCATION ACT. |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | ALUMNI GOLF TOURNAMENT | NameOfEvent1 |
| Gross Receipts Event1 | 64180 | GrossReceiptsEvent1 |
| Gross Revenue Event1 | 64180 | GrossRevenueEvent1 |
| Cash Prizes Event1 | 4102 | CashPrizesEvent1 |
| Rent Facility Costs Event1 | 6770 | RentFacilityCostsEvent1 |
| Food And Beverage Event1 | 4808 | FoodAndBeverageEvent1 |
| Other Direct Expenses Event1 | 10931 | OtherDirectExpensesEvent1 |
| Gross Receipts Total | 64180 | GrossReceiptsTotal |
| Gross Revenue Total Events | 64180 | GrossRevenueTotalEvents |
| Cash Prizes Total Events | 4102 | CashPrizesTotalEvents |
| Rent Facility Costs Total Events | 6770 | RentFacilityCostsTotalEvents |
| Food And Beverage Total Events | 4808 | FoodAndBeverageTotalEvents |
| Other Direct Expenses Total Events | 10931 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 26611 | DirectExpenseSummaryEvents |
| Net Income Summary | 37569 | NetIncomeSummary |
Form990 Schedule G Part IV Form990ScheduleGPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE INSTITUTE SPONSORED AN ALUMNI GOLF TOURNAMENT TO RAISE FUNDS FOR STUDENT SCHOLARSHIPS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 1 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD I GOUSE | |||||||||||||
| 461278 | 0 | 105501 | 0 | 58200 | 0 | 98367 | 0 | 15121 | 0 | 738467 | 0 | 0 | 0 |
| SETH KURN | |||||||||||||
| 325164 | 0 | 59658 | 0 | 9600 | 0 | 63033 | 0 | 15121 | 0 | 472576 | 0 | 0 | 0 |
| CHERYL C CONNORS | |||||||||||||
| 255525 | 0 | 0 | 0 | 10800 | 0 | 71700 | 0 | 34 | 0 | 338059 | 0 | 0 | 0 |
| ROBERT THEROUX | |||||||||||||
| 220901 | 0 | 0 | 0 | 9000 | 0 | 50166 | 0 | 15121 | 0 | 295188 | 0 | 0 | 0 |
| PHILLIP PARSONS | |||||||||||||
| 163727 | 0 | 0 | 0 | 6600 | 0 | 9840 | 0 | 15121 | 0 | 195288 | 0 | 0 | 0 |
| THOMAS WYLIE | |||||||||||||
| 189117 | 0 | 0 | 0 | 6000 | 0 | 11139 | 0 | 34 | 0 | 206290 | 0 | 0 | 0 |
| DOUGLAS SHERMAN | |||||||||||||
| 173034 | 0 | 0 | 0 | 6600 | 0 | 8593 | 0 | 623 | 0 | 188850 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART I, LINE 7 | THE AWARD OF PERFORMANCE INCENTIVES ARISES FROM AN ANNUAL EVALUATIVE PROCESS BASED ON PERFORMANCE AND ON METRICS DEEMED APPROPRIATE TO EACH POSITION BY THE COMPENSATION COMMITTEE OF THE BOARD. | |
| PART III | INCLUDED IN SCHEDULE J, PART II, COLUMN B (III), OTHER REPORTABLE COMPENSATION IS A HOUSING ALLOWANCE AND AN AUTOMOBILE ALLOWANCE FOR RICHARD I. GOUSE. FOR THE REMAINING 6 INDIVIDUALS ON SCHEDULE J, PART II, INCLUDED AS OTHER REPORTABLE COMPENSATION(COLUMN B(III)), ARE AUTOMOBILE ALLOWANCES. THE INSTITUTE PROVIDES ANNUAL CONTRIBUTIONS TO A DEFINED CONTRIBUTION RETIREMENT PLAN FOR RICHARD I. GOUSE ($66,667), SETH KURN ($31,333)AND CHERYL C. CONNORS ($40,000). THE VESTING OF THE SERP BENEFITS IS CONTINGENT UPON EACH BENEFICIARY COMPLETING A SPECIFIED SERVICE PERIOD AND SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE IN ACCORDANCE WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE. DEFERRED COMPENSATION ALSO INCLUDES CONTRIBUTIONS TO A 457B DEFERRED COMPENSATION PLAN FOR RICHARD I. GOUSE, CHERYL C. CONNORS, SETH KURN AND ROBERT THEROUX. INCLUDED IN DEFERRED COMPENSATION FOR ROBERT THEROUX IS A CONTRIBUTION TO A RABBI TRUST ($20,000). | SUPPLEMENTAL INFORMATION |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| SERIES 2008 - RHODE ISLAND HEALTH AND EDUCATION BUILDING CORP | |||||||
| 521300173 | 762197CL3 | 2009-03-01 | 16120000 | SEE SCHEDULE O | 0 | 0 | 0 |
| SERIES 2010 - RHODE ISLAND HEALTH AND EDUCATION BUILDING CORP | |||||||
| 521300173 | 762197EN1 | 2010-05-25 | 40000000 | SEE SCHEDULE O | 0 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Total ProceedsTotalProceeds | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind | Amount In Reserve FundAmountInReserveFund | Capital ExpendituresCapitalExpenditures |
|---|---|---|---|---|---|---|---|
| 16120000 | 258096 | 0 | 1 | 1 | 1 | ||
| 40000000 | 490884 | 0 | 0 | 0 | 1 | 2618719 | 36853324 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 |
| 0 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Business Name Line2NameOfHedgeProvider/BusinessNameLine2 | Term Of HedgeTermOfHedge | Superintegrated HedgeSuperintegratedHedge | Hedge TerminatedHedgeTerminated | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|---|---|---|---|
| MERRILL LYNCH | |||||||||
| 0 | 1 | 1 | CAPITAL | 22.000000000000 | 1 | 0 | 0 | 0 | 0 |
| (no name) | |||||||||
| 0 | 0 | 0 | 0 | 0 | 0 | ||||
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ADLER POLLOCK SHEEHAN PC OF W | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | TRUSTEE/PARTNER - JOSEPH DEANGELIS SERVES AS TRUSTEE TO THE INSTITUTE | Relationship |
| Amount Of Transaction | 112661 | AmountOfTransaction |
| Description Of Transaction | REAL ESTATE DEVELOPMENT OF NEW CAMPUS IN EAST GREENWICH. JOSEPH DEANGELIS IS AN ATTORNEY AND PARTNER IN THE LAW FIRM OF ADLER, POLLOCK, AND SHEEHAN, P.C. THE FIRM PROVIDES LEGAL SERVICES TO THE INSTITUTE RELATED TO REAL ESTATE DEVELOPMENT OF THE NEW CAMPUS IN EAST GREENWICH. THE AMOUNT OF LEGAL FEES PERTAINS TO ALL FEES PAID FOR LEGAL SERVICES TO THE FIRM, NOT THE INDIVIDUAL. THE BOARD IS INVOLVED IN CONSIDERATION AND APPROVAL OF THE TRANSACTIONS BETWEEN THE LAW FIRM AND THE INSTITUTE AND WERE FREE OF BUSINESS OR ANY PERSONAL INTERESTS IN THE TRANSACTION AND AUTHORIZED THE TRANSACTION AFTER CONSIDERATION OF ALTERNATIVE MEANS FOR SUCH EXPERTISE. A TRUSTEE WHO SERVES ON THE BOARD HOLDS OVERSIGHT FOR THE FEES PAID FOR SUCH SERVICES. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule M IRS990ScheduleM
Other Non Cash Contributions Table OtherNonCashContributionsTable (3 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | CLASSROOM AND LAB SUPPLIES | 1 | 7550 | FMV |
| X | X-RAY EQUIPMENT | 1 | 5350 | FMV |
| X | SURGICAL INSTRUMENTS AND SUTURE KITS | 1 | 5000 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | RICHARD I. GOUSE, WHO IS SERVING AS PRESIDENT, IS THE SPOUSE OF THE CURRENT SENIOR V.P. FOR FINANCIAL AFFAIRS AND ENDOWMENT MANAGER AND TREASURER, CHERYL C. CONNORS. HE HAS NO INVOLVEMENT OR AUTHORITY IN THE EVALUATION OR COMPENSATION LEVEL ASSIGNED TO CHERYL C. CONNORS. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS PROVIDED TO THE INSTITUTE'S GOVERNING BODY(ENTIRE BOARD) PRIOR TO ITS FILING. THE PROCESS INCLUDES THE RETURN BEING PREPARED AND THEN PRESENTED TO THE INSTITUTE FOR REVIEW BY THE OFFICERS AND TRUSTEES. A DRAFT IS ALSO SENT TO THE INSTITUTE'S LEGAL REPRESENTATIVES FOR COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS REGARDING GOVERNANCE AND REPORTING OF EXECUTIVE COMPENSATION. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE INSTITUTE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE IN REGARDS TO THE WRITTEN CONFLICT OF INTEREST POLICY. THE OFFICERS AND TRUSTEES ANNUALLY REVIEW THE POLICY AND SUBMIT CONFLICT OF INTEREST DISCLOSURE FORMS, AS WELL AS TO ANNUALLY SIGN ACKNOWLEDGEMENTS OF THEIR REVIEW AND COMPLIANCE WITH THE INSTITUTE'S CONFLICT OF INTEREST POLICY. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF THE INSTITUTE'S OFFICERS IS DETERMINED THROUGH USE OF A COMPENSATION COMMITTEE OF THE BOARD, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION STUDY, AND APPROVAL OF THE COMPENSATION COMMITTEE OF THE BOARD. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE INSTITUTE HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -110,803. DECREASE IN FAIR VALUE OF SWAP -1,599,737. TOTAL TO FORM 990, PART XI, LINE 5: -1,710,540. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| SCHEDULE K, PART 1, COLUMN F | THE PURPOSE OF THE 2008 BOND ISSUANCE REGARDED THE REFUNDING OF THE SERIES 2004 BONDS AND PAYMENT OF CERTAIN EXPENSES WITH RESPECT TO THE 2008 BONDS. THE PURPOSE OF THE 2010 BOND ISSUANCE REGARDED THE REIMBURSEMENT FOR THE PURCHASE OF THE BUILDING AND THE CONSTRUCTION OF THE NEW BUILDING IN EAST GREENWICH FOR THE NEW CAMPUS. | |
| SCHEDULE J, COLUMN C | SCHEDULE J, COLUMN C, DEFERRED COMPENSATION INCLUDES AMOUNTS CONTRIBUTED UNDER A 457B DEFERRED COMPENSATION PLAN FOR RICHARD I. GOUSE, SETH KURN, CHERYL C. CONNORS, AND ROBERT THEROUX. DEFERRED COMPENSATION ALSO INCLUDES AN ANNUAL AMOUNT CONTRIBUTED TO A DEFINED CONTRIBUTION RETIREMENT PLAN FOR RICHARD I. GOUSE, SETH KURN, AND CHERYL C. CONNORS. ALSO INCLUDED IN DEFERRED COMPENSATION FOR ROBERT THEROUX IS A CONTRIBUTION TO A RABBI TRUST. | |
| SCHEDULE J, COLUMN B (II) | BONUS COMPENSATION IS SUBJECT TO GOALS SET BY THE COMPENSATION COMMITTEE OF THE BOARD. THE AWARD OF PERFORMANCE INCENTIVES ARISES FROM AN ANNUAL EVALUATIVE PROCESS BASED UPON PERFORMANCE AND ON METRICS DEEMED APPROPRIATE TO EACH POSITION BY THE COMPENSATION COMMITTEE OF THE BOARD. BONUSES FOR PERFORMANCE RELATED TO FYE 6/30/2011 WERE PAID OUT IN 11/11, SUBSEQUENT TO THE MEETING OF THE COMPENSATION COMMITTEE ON 11/01/11. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EG LAND CO LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE NEW ENGLAND TECH BOULEVARD | AddressLine1 |
| City | EAST GREENWICH | City |
| State | RI | State |
| ZIP Code | 02818 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 050515671 | EIN |
| Primary Activities | REAL ESTATE | PrimaryActivities |
| Legal Domicile State | RI | LegalDomicileState |
| EOY Assets | 11000000 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW ENGLAND INSTITUTE OF TECHNOLOGY | BusinessNameLine1 |
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW ENGLAND TECHNICAL COLLEGE | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE NEW ENGLAND TECH BOULEVARD | AddressLine1 |
| City | EAST GREENWICH | City |
| State | RI | State |
| ZIP Code | 02818 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 050459858 | EIN |
| Primary Activities | TECHNICAL EDUCATION SERVICES | PrimaryActivities |
| Legal Domicile State | RI | LegalDomicileState |
| Exempt Code Section | 170(B)(1)(A)(II) | ExemptCodeSection |
| Public Charity Status | 501(C)(3) | PublicCharityStatus |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |