2013-11-06T09:32:37-06:00 2013-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFFICE PARK SUITE 102 BRAINTREE MA 02184 990 2012-07-01 237136083 MOUNT WACHUSETT COMMUNITY COLLEGE FOUNDATION INC MOUN 9786326600 444 GREEN STREET GARDNER MA 01440 SCOT BARRETT 9786326600 2013-11-01 1 DAVID A DIIULIS P00303577 6174711120 2013-10-28 2012 2015-11-30 17:44:51Z SCOT BARRETT 444 GREEN STREET GARDNER MA 01440 469870 0 X WWW.MWCC.EDU/FOUNDATION X 1971 MA AWARDING OF GRANTS AND SCHOLARSHIPS 22 22 0 0 0 0 246260 306598 0 0 85973 75189 22899 13180 355132 394967 327893 338799 0 0 0 0 0 0 0 182808 172356 510701 511155 -155569 -116188 4413010 4658710 53546 115874 4359464 4542836 X THE MISSION OF MOUNT WACHUSETT COMMUNITY COLLEGE FOUNDATION, INC. IS TO SECURE TIME, TALENT, AND TREASURE FROM PRIVATE AND PUBLIC SOURCES THAT WILL ENABLE THE COLLEGE TO PROVIDE ACCESSIBLE, AFFORDABLE EDUCATION, AND TO IMPLEMENT, SOCIAL, ECONOMICAL AND CULTURAL INITIATIVES. 0 0 338799 338799 FOSTERING AND PROMOTING EXCELLENCE IN EDUCATION AND RESEARCH THROUGH GRANTS AND SCHOLARSHIPS AND ASSISTING IN THE GROWTH AND IMPROVEMENT OF THE COLLEGE 338799 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X CARLA DEFOSSE EXECUTIVE DIRECTOR 9786326600 444 GREEN STREET GARDNER MA 01440 CHARLES P BOWLES 0.00 X 0 0 0 PETER C ARMBRUSTER 0.00 X X 0 0 0 SCOT BARRETT 0.00 X X 0 0 0 RICHARD A CELLA 0.00 X 0 0 0 RICHARD FLANNAGAN 0.00 X 0 0 0 REGINA WIRONEN 0.00 X X 0 0 0 JAMES GARRISON 0.00 X 0 0 0 ANGELO SABATALO 0.00 X X 0 0 0 ANN MCDONALD 1.00 X 0 175925 47975 MICHAEL T GREENWOOD 1.00 X 0 90392 26650 RAYMOND MARTINO 0.00 X 0 0 0 RICHARD MOHNK 0.00 X X 0 0 0 ANTHONY A CETRONE 0.00 X 0 0 0 WINFIELD BROWN 0.00 X 0 0 0 WAYNE CANTY 0.00 X 0 0 0 WALTER J DWYER IV 0.00 X 0 0 0 RAYMOND LAFOND 0.00 X 0 0 0 ERICA LIGHT 0.00 X 0 0 0 DOUGLAS J PETERSON 0.00 X 0 0 0 LINDA RACINE 0.00 X 0 0 0 MOLLY RUBLE 0.00 X 0 0 0 STEVEN SHAREK 0.00 X 0 0 0 CARLA DEFOSSE 40.00 X 0 31790 8669 0 298107 83294 0 0 1 0 0 70175 236423 306598 73723 73723 11844 10378 1466 1466 1466 77705 70175 64525 13180 13180 394967 0 0 88369 338799 338799 137562 137562 5700 5700 12750 12750 7455 7455 2146 2146 1797 1797 DUES AND SUBSCRIPTIONS 3125 3125 MISCELLANEOUS EXPENSES 1821 1821 511155 338799 172356 0 267728 535601 792463 580699 1013 2364 3351806 3540046 4413010 4658710 30216 23534 23330 92340 53546 115874 X 2133445 2285896 1925341 1956262 300678 300678 4359464 4542836 4413010 4658710 -116188 299560 0 X X 0 1 X 1 0 X 1358300 349309 221676 246260 306598 2482143 1358300 349309 221676 246260 306598 2482143 2482143 127831 106164 97534 85423 73723 490675 2972818 392830 0.83490 0.81040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 395763 57201 7088 445876 387740 10000 6647 8624 395763 313760 13552 68078 7650 387740 277225 676 43259 7400 313760 320480 0 -34855 8400 277225 1.00000 0 0 0 CERTIFICATES OF DEPOSIT 107659 F EQUITY FUNDS 1916841 F FIXED INCOME FUNDS 1515546 F 3540046 X 759052 299560 64525 364085 394967 0 394967 575680 64525 64525 511155 0 511155 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: SCHEDULE D, PART X, LINE 2: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRACTICED IN THE UNITED STATES OF AMERICA REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A MORE LIKELY THAN NOT (MLTN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. INTEREST AND PENALTIES, IF ANY, RELATED TO ASSESSMENTS BY TAX AUTHORITIES WILL BE CLASSIFIED AS A COMPONENT OF INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY, IN THE STATEMENT OF ACTIVITIES. A TAX POSITION MAY BE CONSIDERED AS TAKEN ANY TIME A TAXPAYER CHOOSES AMONGST ALTERNATIVES THAT AFFECT THE AMOUNT OF THEIR TAX OBLIGATIONS AND INCLUDE FOR EXAMPLE: TAX EXEMPT STATUS; STATUS AS A PASS-THOUGH ENTITY (S CORPORATIONS, ETC.); DECISIONS MADE IN THE PROCESS OF CONFORMING WITH TAX LAWS; DECISIONS NOT TO FILE IN CERTAIN JURISDICTIONS; ALLOCATION OF INCOME BETWEEN JURISDICTIONS AND THE CHARACTERIZATION OF INCOME OR EXPENSES. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. THE FOUNDATION HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE FOUNDATION HAS IDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS MLTN SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EVENT COSTS 64,525. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EVENT COSTS 64,525. GOLF EVENT 48655 15905 32750 3800 17095 FOUNDATION DINNER 84495 54270 30225 32259 632 2 14730 14730 10739 147880 70175 77705 36059 28466 64525 13180 0 MOUNT WACHUSETT COMMUNITY COLLEGE 144 GREEN STREET GARDNER MA 01440 046002284 115 338799 TO FULLFILL THE MISSION OF THE FOUNDATION BY SUPPORTING MOUNT WACHUSETT COMMUNITY COLLEGE. 1 0 0 0 0 0 0 0 0 0 ANN MCDONALD 0 175925 0 0 0 0 0 0 0 47975 0 223900 0 0 FORM 990, PART VI, SECTION B, LINE 11 AS PART OF THE FORM 990 REVIEW PROCESS, THE FORM 990 NEEDS TO BE REVIEWED BY THE MOUNT WACHUSETT COMMUNITY COLLEGE FOUNDATION BOARD OF TRUSTEES OR WILL BE DELEGATED TO A SUB-COMMITTEE WHERE A MEMBER OF THE FINANCE COMMITTEE WILL BE ABLE TO REVIEW THE RETURN FOR COMPLETENESS AND ACCURACY. ONCE THE FORM 990 HAS BEEN APPROVED BY THE BOARD OF TRUSTEES OR A MEMBER OF THE FINANCE COMMITTEE IT CAN THEN BE FILED WITH THE INTERNAL REVENUE SERVICE AND THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. FORM 990, PART VI, SECTION B, LINE 12C PERSONS COVERED BY THIS POLICY WILL ANNUALLY DISCLOSE OR UPDATE TO THE CHAIRMAN OF THE BOARD OF DIRECTORS THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, SUCH AS A LIST OF FAMILY MEMBERS, SUBSTANTIAL BUSINESS OR INVESTMENTS HOLDINGS, AND OTHER TRANSACTION OR AFFILIATIONS WITH BUSINESSES AND OTHER ORGANIZATIONS OR THOSE OF FAMILY MEMBERS. THE MOUNT WACHUSSETT COMMUNITY COLLEGE FOUNDATION, INC. HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF MOUNT WACHUSSETT COMMUNITY COLLEGE. ALL SALARIES FOR THESE EMPLOYEES ARE PAID BY MOUNT WACHUSSETT COMMUNITY COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUPLIC UPON REQUEST AND THROUGH THE PUBLISHING OF PRINTED REPORTS. FORM 990, PART XII, LINE 2C: THE FOUNDATION DOES HAVE A FORMAL COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT. THE PROCESS OF OVERSEEING THE AUDIT AND THE RELATED STATEMENTS HAVE NOT CHANGED SINCE THE PRIOR YEAR. MOUNT WACHUSETT COMMUNITY COLLEGE 444 GREEN STREET GARDNER MA 01440 046002284 COMMUNITY COLLEGE - EDUCATION MA 115 N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 MOUNT WACHUSETT COMMUNITY COLLEGE B 338799 END-OF-YEAR MARKET VALUE MOUNT WACHUSETT COMMUNITY COLLEGE P 137562 END-OF-YEAR MARKET VALUE MOUNT WACHUSETT COMMUNITY COLLEGE L 64525 END-OF-YEAR MARKET VALUE