FRANKLIN W OLIN COLLEGE OF ENGINEERING INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- FRANKLIN W OLIN COLLEGE OF ENGINEERING INC (EIN 06-1519057)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-07
- IRS object ID
- 201321279349301557
- Schema version
- 2011v1.2
- 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 C
- Schedule D
- Schedule E
- Schedule F
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-07T13:14:39-07:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 061519057 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKLIN W OLIN COLLEGE OF ENGINEERING INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FRAN | NameControl |
| Phone | 7812922300 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 Olin Way | AddressLine1 |
| City | Needham | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Stephen P Hannabury | Name |
| Title | Exective VP & Treasurer | Title |
| Phone | 7812922401 | Phone |
| Date Signed | 2013-05-01 | DateSigned |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
Name Of Principal Officer Business NameOfPrincipalOfficerBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Richard K Miller | BusinessNameLine1 |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 Olin Way | AddressLine1 |
| City | Needham | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 244393576 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.olin.edu | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1997 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | Highly selective four-year undergraduate engineering college with a unique interdisciplinary, project-based curriculum emphasizing entrepreneurship, liberal arts, and rigorous science and engineering fundamentals. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 16 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 14 | NbrIndependentVotingMembers |
| Total Nbr Employees | 344 | TotalNbrEmployees |
| Total Nbr Volunteers | 66 | TotalNbrVolunteers |
| Total Gross UBI | 12573 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 2170191 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 2696186 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 17846866 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 17676824 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 24954110 | InvestmentIncomePriorYear |
| Investment Income Current Year | 7944498 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1167878 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1206924 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 46139045 | TotalRevenuePriorYear |
| Total Revenue Current Year | 29524432 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 11928097 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 10636329 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 13555306 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 14095230 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1329255 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 23478045 | OtherExpensePriorYear |
| Other Expenses Current Year | 23291159 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 48961448 | TotalExpensesPriorYear |
| Total Expenses Current Year | 48022718 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -2822403 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -18498286 | RevenuesLessExpensesCY |
| Total Assets BOY | 490219363 | TotalAssetsBOY |
| Total Assets EOY | 455084982 | TotalAssetsEOY |
| Total Liabilities BOY | 173820997 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 184381198 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 316398366 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 270703784 | NetAssetsOrFundBalancesEOY |
| Mission Description | Olin College prepares students to become exemplary engineering innovators who recognize needs, design solutions, and engage in creative enterprises for the good of the world. Olin College seeks to redefine engineering as a profession of innovation encompassing 1) the consideration of human and societal needs; 2) the creative design of engineering systems; and 3) the creation of value through entrepreneurial effort and philanthropy. The College is dedicated to the discovery and development of the most effective educational approaches and aspires to serve as a model for others. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 38370743 | Expense |
| Grants | 10636329 | Grants |
| Revenue | 18789174 | Revenue |
| Description | Franklin W. Olin College of Engineering, Inc. (the College) was founded in 1997 by the F.W. Olin Foundation Inc. and graduated its first class in May 2006. The College is an independent nonsectarian college offering undergraduate programs leading toward degrees in engineering. There are approximately 340 students drawn from around the world. The campus is located in Needham, Massachusetts. Every admitted student receives an eight semester full or half tuition merit scholarship over four years. The College is accredited by the New England Association of Schools and Colleges (NEASC) and the College's three degree programs are accredited by ABET, the accrediting organization for engineering programs. | Description |
| Total Of Other Program Service Exp | 0 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Grnt | 0 | TotalOfOtherProgramServiceGrnt |
| Total Of Other Program Service Rev | 0 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 38370743 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | 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 | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 1 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 1 | 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 | 1 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | 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 | 396 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 344 | 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 | 16 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 14 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | 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 |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Stephen P Hannabury | BusinessNameLine1 |
| Business Name Line2 | Executive VP & Treasurer | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 7812922401 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 Olin Way | AddressLine1 |
| City | Needham | City |
| State | MA | State |
| ZIP Code | 024921200 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (27 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| William B Norden | ||||||||
| Chairman | 8 | X | X | 0 | 0 | 0 | ||
| Carla L Gude | ||||||||
| Vice Chair | 6 | X | X | 0 | 0 | 0 | ||
| Elizabeth G Armstrong | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| George R Berbeco | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Tullio Cedraschi | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Sunlin Chou | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Tamara P Davis | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| C Scott Gibson | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Sherwin Greenblatt | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Paul C Jennings | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| R Douglas Kahn | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Robert N McBurney | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Lawrence W Milas | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Douglas G Rauch | ||||||||
| Clerk | 4 | X | X | 0 | 0 | 0 | ||
| Kenneth R Stokes | ||||||||
| Trustee | 4 | X | 0 | 0 | 0 | |||
| Richard K Miller | ||||||||
| President | 40 | X | X | 379811 | 0 | 104184 | ||
| Stephen P Hannabury | ||||||||
| Exective VP & Treasurer | 40 | X | 257802 | 0 | 21157 | |||
| Christine Kelly | ||||||||
| Asst Clerk of the Board | 40 | X | 87860 | 0 | 15269 | |||
| Thomas Krimmel | ||||||||
| VP Development | 40 | 255778 | 0 | 39230 | X | |||
| Charles Nolan | ||||||||
| VP External Affairs | 40 | 220075 | 0 | 27081 | X | |||
| Joanne M Kossuth | ||||||||
| VP Operations | 40 | 207432 | 0 | 36000 | X | |||
| Roger Crafts | ||||||||
| Dean of Student Life | 40 | 161059 | 0 | 51173 | X | |||
| Stephen Holt | ||||||||
| Professor | 40 | 180889 | 0 | 15797 | X | |||
| Lynn A Stein | ||||||||
| Professor | 40 | 170786 | 0 | 11046 | X | |||
| Mark Somerville | ||||||||
| Professor & Associate Dean | 40 | 142063 | 0 | 35631 | X | |||
| Joseph McDonald | ||||||||
| Director, Facilities | 40 | 149606 | 0 | 20297 | X | |||
| Gill A Pratt | ||||||||
| Professor | 40 | 150420 | 0 | 13991 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2363581 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 390856 | TotalOtherCompensation |
| Number Individuals GT100 K | 37 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| CommonFund | |||||
| 15 Old Danbury Road | Milton | CT | 06897 | Investment services | 2001713 |
| Aramark Facilities Services | |||||
| 1101 Market Street | Philadelphia | PA | 19107 | Facility services management | 1923624 |
| Sodexo Inc and Affiliates | |||||
| 9801 Washington Boulevard | Gaithersburg | MD | 20878 | Facility services management | 1453014 |
| Babson College | |||||
| 231 Forest Street | Babson Park | MA | 02457 | Shared administrative services | 815045 |
| Royall & Co | |||||
| 1920E Parham Road | Richmond | VA | 232282206 | Admissions marketing | 207222 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 10 | NumberOfContractorsGT100K |
| Federated Campaigns | 0 | FederatedCampaigns |
| Membership Dues | 0 | MembershipDues |
| Fundraising Events | 0 | FundraisingEvents |
| Related Organizations | 0 | RelatedOrganizations |
| Government Grants | 1094546 | GovernmentGrants |
| All Other Contributions | 1601640 | AllOtherContributions |
| Noncash Contributions | 71873 | NoncashContributions |
| Total Contributions | 2696186 | TotalContributions |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Student tuition/fees | Description |
| Business Code | 611310 | BusinessCode |
| Total Revenue Column | 17676824 | TotalRevenueColumn |
| Related Or Exempt Function Income | 17676824 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 17676824 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 6323680 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 15179 | UnrelatedBusinessRevenue |
| Exclusion | $6,308,501 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 121944 | Real |
| Personal | 0 | Personal |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 27370 | Real |
| Personal | 0 | Personal |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 94574 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 94574 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -2606 | UnrelatedBusinessRevenue |
| Exclusion | $97,180 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 216319774 | Securities |
| Other | 142818 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 214698956 | Securities |
| Other | 142818 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1620818 | Securities |
| Other | 0 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1620818 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,620,818 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 0 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 0 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 0 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Gaming | 0 | GrossIncomeGaming |
| Gaming Direct Expenses | 0 | GamingDirectExpenses |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 0 | GrossSalesOfInventory |
| Cost Of Goods Sold | 0 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Other income | Description |
| Business Code | 611310 | BusinessCode |
| Total Revenue Column | 1112350 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1112350 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1112350 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29524432 | TotalRevenueColumn |
| Related Or Exempt Function Income | 18789174 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 12573 | UnrelatedBusinessRevenue |
| Exclusion | $8,026,499 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12974 | Total |
| Program Services | 12974 | ProgramServices |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10223605 | Total |
| Program Services | 10223605 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 399750 | Total |
| Program Services | 399750 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1966632 | Total |
| Program Services | 406328 | ProgramServices |
| Management And General | 1014058 | ManagementAndGeneral |
| Fundraising | 546246 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9813019 | Total |
| Program Services | 7208913 | ProgramServices |
| Management And General | 2110659 | ManagementAndGeneral |
| Fundraising | 493447 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 569703 | Total |
| Program Services | 418520 | ProgramServices |
| Management And General | 122536 | ManagementAndGeneral |
| Fundraising | 28647 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 990899 | Total |
| Program Services | 727942 | ProgramServices |
| Management And General | 213130 | ManagementAndGeneral |
| Fundraising | 49827 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 754977 | Total |
| Program Services | 500255 | ProgramServices |
| Management And General | 205166 | ManagementAndGeneral |
| Fundraising | 49556 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69016 | Total |
| Management And General | 69016 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 93885 | Total |
| Management And General | 93885 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2001713 | Total |
| Management And General | 2001713 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4132523 | Total |
| Program Services | 3860190 | ProgramServices |
| Management And General | 262415 | ManagementAndGeneral |
| Fundraising | 9918 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25081 | Total |
| Program Services | 12299 | ProgramServices |
| Management And General | 12782 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1169880 | Total |
| Program Services | 844428 | ProgramServices |
| Management And General | 299782 | ManagementAndGeneral |
| Fundraising | 25670 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 869735 | Total |
| Program Services | 335946 | ProgramServices |
| Management And General | 533789 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 846372 | Total |
| Program Services | 791381 | ProgramServices |
| Management And General | 52958 | ManagementAndGeneral |
| Fundraising | 2033 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 804480 | Total |
| Program Services | 604238 | ProgramServices |
| Management And General | 109339 | ManagementAndGeneral |
| Fundraising | 90903 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 188687 | Total |
| Program Services | 42729 | ProgramServices |
| Management And General | 144298 | ManagementAndGeneral |
| Fundraising | 1660 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4765104 | Total |
| Program Services | 4451084 | ProgramServices |
| Management And General | 302584 | ManagementAndGeneral |
| Fundraising | 11436 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5339106 | Total |
| Program Services | 4987259 | ProgramServices |
| Management And General | 339033 | ManagementAndGeneral |
| Fundraising | 12814 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 148386 | Total |
| Management And General | 148386 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| Dining services | 1224870 | 1224870 | 0 | 0 |
| Debt management fees | 598532 | 559089 | 38007 | 1436 |
| Books, magazines, and subscriptions | 476183 | 464400 | 8122 | 3661 |
| Dues and Membership | 176729 | 53757 | 121262 | 1710 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 360877 | Total |
| Program Services | 240786 | ProgramServices |
| Management And General | 119800 | ManagementAndGeneral |
| Fundraising | 291 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48022718 | Total |
| Program Services | 38370743 | ProgramServices |
| Management And General | 8322720 | ManagementAndGeneral |
| Fundraising | 1329255 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1525374 | BOY |
| EOY | 1781533 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57168 | BOY |
| EOY | 0 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1018987 | BOY |
| EOY | 779390 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691379 | BOY |
| EOY | 750846 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28636 | BOY |
| EOY | 29856 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1101441 | BOY |
| EOY | 1033977 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 154923268 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 48305586 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111340218 | BOY |
| EOY | 106617682 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 370458650 | BOY |
| EOY | 340192711 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3997510 | BOY |
| EOY | 3898987 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 490219363 | BOY |
| EOY | 455084982 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4259134 | BOY |
| EOY | 4648190 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 353460 | BOY |
| EOY | 399058 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148928422 | BOY |
| EOY | 148977104 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20279981 | BOY |
| EOY | 30356846 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 173820997 | BOY |
| EOY | 184381198 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13168647 | BOY |
| EOY | 12492078 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 300968921 | BOY |
| EOY | 255935553 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2260798 | BOY |
| EOY | 2276153 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 316398366 | BOY |
| EOY | 270703784 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 490219363 | BOY |
| EOY | 455084982 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -18498286 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -27196296 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 0 | DirectContactLegislators |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
| Other Activities | $0 | OtherActivitiesAmount |
| Total Lobbying Expenditures IIB | 0 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | 0 | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SchC_P2B_S00_L01 | Identifier |
| Return Reference | Schedule C, Part II-B, Line 1 | ReturnReference |
| Explanation | The College is a member of the Association of Independent Colleges and Universities in Massachusetts (AICUM). AICUM is the leading voice on public policy matters relating to independent higher education in Massachusetts. AICUM may engage in lobbying activites. Therefore, an undetermined portion of the dues paid by the College to AICUM may be attributable to lobbying activities. | Explanation |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 369064795 | BeginningOfYearBalance |
| Contributions | 14462 | Contributions |
| Investment Earnings Or Losses | -11203019 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 19663840 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 338212398 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 335557332 | BeginningOfYearBalance |
| Contributions | 96048 | Contributions |
| Investment Earnings Or Losses | 55402008 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 21990593 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 369064795 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 328660306 | BeginningOfYearBalance |
| Contributions | 174055 | Contributions |
| Investment Earnings Or Losses | 28622971 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 21900000 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 335557332 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 469570393 | BeginningOfYearBalance |
| Contributions | 44430 | Contributions |
| Investment Earnings Or Losses | -118844517 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 22110000 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 328660306 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.0092 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.0067 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.9841 | TermEndowmentEOYBalance |
| 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 | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 14604513 | OtherCostOrOtherBasis |
| Book Value | 14604513 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 129512591 | OtherCostOrOtherBasis |
| Depreciation | 41302576 | Depreciation |
| Book Value | 88210015 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 1658805 | OtherCostOrOtherBasis |
| Depreciation | 697991 | Depreciation |
| Book Value | 960814 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 9081119 | OtherCostOrOtherBasis |
| Depreciation | 6305019 | Depreciation |
| Book Value | 2776100 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 66240 | OtherCostOrOtherBasis |
| Depreciation | 0 | Depreciation |
| Book Value | 66240 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 106617682 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (7 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| Equity funds | 117921171 | F |
| Fixed funds | 54497933 | F |
| Real assets funds | 23217817 | F |
| Hedge funds | 71576828 | F |
| Private equity funds | 10205801 | F |
| Venture capital funds | 12398577 | F |
| Cash and cash equivalents | 50374584 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 340192711 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| Interest rate agreement | $20,356,846 |
| Taxable bonds | $10,000,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 30356846 | TotalOfAmounts |
| Total Revenue | 29524432 | TotalRevenue |
| Total Expenses | 48022718 | TotalExpenses |
| Excess Or Deficit For Year | -18498286 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -17119431 | NetUnrealizedGLOnInvestments |
| Donated Services And Facilities | 0 | DonatedServicesAndFacilities |
| Investment Expenses | 0 | InvestmentExpenses |
| Prior Period Adjustments | 0 | PriorPeriodAdjustments |
| Other | -$10,076,865 | OtherAmount |
| Total Adjustments | -27196296 | TotalAdjustments |
| Excess Or Deficit Per FS | -45694582 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | -10269562 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -17119431 | NetUnrealizedGainsInvestments |
| Donated Srvc And Use Of Facilities | 0 | DonatedSrvcAndUseOfFacilities |
| Recoveries Of Prior Year Grants | 0 | RecoveriesOfPriorYearGrants |
| Other Revenues | 0 | OtherRevenues |
| Revenue Not Rptd F990 | -17119431 | RevenueNotRptdF990 |
| Revenue Subtotal | 6849869 | RevenueSubtotal |
| Investment Expenses Not Included | 2001713 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 20672850 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 22674563 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 29524432 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 35425020 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 0 | DonatedServicesUseOfFacilities |
| Prior Year Adjustments | 0 | PriorYearAdjustments |
| Losses Reported | 0 | LossesReported |
| Other Expenses Included | 0 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 35425020 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 2001713 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 10595985 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 12597698 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 48022718 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SchD_P05_S00_L04 | Schedule D, Part V, Line 4 | Most of the College's endowment is made up of the Olin Endowment, which is required to be held in perpetuity, subject to the exceptions explained below, in order to fund merit scholarships for all students. The Grant Agreement that created the Olin Endowment provides for its use in certain circumstances, such as for the payment of certain debt service should unrestricted net assets be insufficient for that purpose, and for certain capital outlays. |
| SchD_P10_S00_L02 | Schedule D, Part X, Line 2 | The College accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The College has identified its tax status as a tax exempt entity as its only significant tax position; however, the College has determined that such tax position does not result in an uncertainty requiring recognition. The College is not currently under examination by any taxing jurisdictions. The College's Federal and State tax returns are generally open for examination for three years following the date filed. |
| SchD_P11_S00_L08 | Schedule D, Part XI, Line 8 | Change in FMV interest rate agreement: $10,076,865 |
| SchD_P12_S00_L04b | Schedule D, Part XII, Line 4b | Financial Aid: $10,623,355 Rental expenses: -$27,370 Change in FMV interest agreement: $10,076,865 Total to Schedule D, Part XII, Line 4b: $20,672,850. |
| SchD_P13_S00_L04b | Schedule D, Part XIII, Line 4b | Financial Aid: $10,623,355 Rental expenses: -$27,370 Total Schedule D, Part XIII, Line 4b: $10,595,985. |
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 | 0 | 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 |
|---|---|---|
| SchE_P01_S00_L03 | Schedule E, Part I, Line 3 | The College includes a statement of its racially nondiscriminatory policy in all brochures and catalogues dealing with student admissions, programs and scholarships, and on their website. Further, the College includes a reference to its racially nondiscriminatory policy in written advertising that it uses as a means of informing prospective students of its programs. The College customarily draws a substantial percentage of its students nationwide. The College demonstrates that it follows a racially nondiscriminatory policy by enrolling students of racial minority groups in meaningful numbers. |
| SchE_P01_S00_L06 | Schedule E, Part I, Line 6 | Federal grantor/pass-through grantor/program or cluster title and federal expenditures: Total Department of Education: $633,301 Total National Science Foundation: $555,196 Total National Aeronautics and Space Adminstration: $35,222 Total Department of Defense: $383,641 Total Department of Health and Human Services National Institutes of Health: $117,378 Total Institute of Museum and Library Services: $3,110 |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 1 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (12 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| South America | 0 | 0 | Grantmaking | Grants to recipients located in the region. | 39000 |
| South America | 0 | 0 | Program Services | Conference | 8886 |
| Europe (including Iceland and Greenland) | 0 | 0 | Grantmaking | Grants to recipients located in the region | 204750 |
| Europe (including Iceland and Greenland) | 0 | 0 | Program Services | Conference | 12170 |
| East Asia and the Pacific | 0 | 0 | Grantmaking | Grants to recipients located in the region | 136500 |
| East Asia and the Pacific | 0 | 0 | Program Services | Conference | 38582 |
| Middle East and North Africa | 0 | 0 | Grantmaking | Grants to recipients located in the region | 19500 |
| Middle East and North Africa | 0 | 0 | Program Services | Class project teaching locals | 30387 |
| North America (including Canada and Mexico, but not the United States) | 0 | 0 | Program Services | Conference | 7631 |
| South Asia | 0 | 0 | Program Services | Class project teaching locals | 14496 |
| Sub-Saharan Africa | 0 | 0 | Program Services | Class project teaching locals | 13857 |
| Central America and the Caribbean | 0 | 0 | Investments | 78256184 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Total Amount Spent | 78781943 | TotalAmountSpent |
Grants To Ind Outside US GrantsToIndOutsideUS (4 entries)
| Type Of AssistanceTypeOfAssistance | RegionRegion | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant | Manner Of Cash DisbursementMannerOfCashDisbursement | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Method Of ValuationMethodOfValuation |
|---|---|---|---|---|---|---|
| Scholarships | South America | 2 | 0 | Credit to account | 39000 | FMV |
| Scholarships | Europe (including Iceland and Greenland) | 9 | 0 | Credit to account | 204750 | FMV |
| Scholarships | East Asia and the Pacific | 6 | 0 | Credit to account | 136500 | FMV |
| Scholarships | Middle East and North Africa | 3 | 0 | Credit to account | 19500 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | 1 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 1 | OwnForeignCorp |
| Passive Foreign Invest Co | 1 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SchF_P01_S00_L02 | Schedule F, Part I, Line 2 | All students admitted to Olin are awarded a substantial merit scholarship. Students admitted prior to fall 2010 received a 100% scholarship, and the students admitted in or after fall 2010 receive a 50% scholarship. All scholarships are applied directly to the student's account to reduce tuition charged. Students receive the scholarship even for terms spent studying abroad. |
| SchF_P01_S00_L03 | Schedule F, Part I, Line 3 | All amounts are calculated based on Generally Accepted Accounting Principles (GAAP). |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
| No Grant More Than5000 | X | NoGrantMoreThan5000 |
Form990 Schedule I Part III Form990ScheduleIPartIII (4 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Method Of ValuationMethodOfValuation | Description Of Non Cash AssistanceDescriptionOfNonCashAssistance |
|---|---|---|---|---|---|
| Olin scholarships | 328 | 0 | 8923814 | Fair market value | Tuition discounts |
| Need based aid | 80 | 0 | 1239622 | Fair market value | Tuition discounts |
| Suplemental Educational Opportunity Grant required match | 8 | 0 | 5187 | Fair market value | Tuition discounts |
| Scholarships | 10 | 0 | 54982 | Fair market value | Tuition discounts |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SchI_P01_S00_L02 | Identifier |
| Return Reference | Schedule I, Part I, Line 2 | ReturnReference |
| Explanation | All accepted students currently received either a full or half Olin tuition scholarship which is credited directly to their student accounts. It it used only to offset tuition charges. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Personal Services | X | PersonalServices |
| 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 | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | 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 | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (11 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 K Miller | |||||||||||||
| 354321 | 0 | 0 | 0 | 25490 | 0 | 19841 | 0 | 84343 | 0 | 483995 | 0 | 0 | 0 |
| Thomas Krimmel | |||||||||||||
| 252570 | 0 | 0 | 0 | 3208 | 0 | 20248 | 0 | 18982 | 0 | 295008 | 0 | 0 | 0 |
| Stephen P Hannabury | |||||||||||||
| 238686 | 0 | 0 | 0 | 19116 | 0 | 19467 | 0 | 1690 | 0 | 278959 | 0 | 0 | 0 |
| Charles Nolan | |||||||||||||
| 217076 | 0 | 0 | 0 | 2998 | 0 | 18383 | 0 | 8698 | 0 | 247155 | 0 | 0 | 0 |
| Joanne M Kossuth | |||||||||||||
| 205429 | 0 | 0 | 0 | 2003 | 0 | 17438 | 0 | 18562 | 0 | 243432 | 0 | 0 | 0 |
| Roger Crafts | |||||||||||||
| 159322 | 0 | 0 | 0 | 1738 | 0 | 13158 | 0 | 38015 | 0 | 212233 | 0 | 0 | 0 |
| Gill A Pratt | |||||||||||||
| 150143 | 0 | 0 | 0 | 277 | 0 | 11949 | 0 | 2041 | 0 | 164410 | 0 | 0 | 0 |
| Stephen Holt | |||||||||||||
| 177850 | 0 | 0 | 0 | 3039 | 0 | 14427 | 0 | 1369 | 0 | 196685 | 0 | 0 | 0 |
| Lynn A Stein | |||||||||||||
| 126499 | 0 | 0 | 0 | 44287 | 0 | 10683 | 0 | 363 | 0 | 181832 | 0 | 0 | 0 |
| Joseph McDonald | |||||||||||||
| 62148 | 0 | 0 | 0 | 87458 | 0 | 5020 | 0 | 15277 | 0 | 169903 | 0 | 0 | 0 |
| Mark Somerville | |||||||||||||
| 103084 | 0 | 0 | 0 | 38979 | 0 | 9714 | 0 | 25917 | 0 | 177694 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SchJ_P01_S00_L01a | Schedule J, Part I, Line 1a | See Schedule O. |
| SchJ_P01_S00_L03 | Schedule J, Part I, Line 3 | On an annual basis, most recently in October 2012, the Executive Committee of the Board of Trustees reviews the President's salary. As part of their review, they consider comparable market data for the President's position, based on other engineering and liberal arts schools as reported in a salary survey published by CUPA (College and University personnel Association). They also use data from CUPA on Boston-area private colleges and universities, and at least three other sources of data. |
| SchJ_P01_S00_L04 | Schedule J, Part I, Line 4 | Paid Joseph McDonald for Severance in amount of $51,237.33. |
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 |
|---|---|---|---|---|---|---|---|
| Massachusetts Development Finance Agency | |||||||
| 043431814 | 57583FT84 | 2003-08-13 | 64543027 | Campus Construction | 0 | 0 | 0 |
| Massachusetts Development Finance Agency | |||||||
| 043431814 | 57583RZG3 | 2008-09-04 | 84000000 | Refunding of Series A-1 & A-2 | 0 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Amount RetiredAmountRetired | Amount Bond DefeasedAmountBondDefeased | Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Capitalized InterestCapitalizedInterest | Refunding EscrowRefundingEscrow | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Credit EnhancementCreditEnhancement | Working Capital ExpendituresWorkingCapitalExpenditures | Capital ExpendituresCapitalExpenditures | Other Spent ProceedsOtherSpentProceeds | Amount UnspentAmountUnspent | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 65185071 | 0 | 0 | 0 | 715172 | 1385148 | 0 | 63084751 | 0 | 0 | 2010 | 0 | 0 | 1 | 1 |
| 0 | 0 | 84000156 | 0 | 0 | 83285106 | 672658 | 42392 | 0 | 0 | 0 | 0 | 2004 | 1 | 0 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Engage Bond Counsel ContractsEngageBondCounselContracts | Any Research AgreementsAnyResearchAgreements | Engage Bond Counsel ResearchEngageBondCounselResearch | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 1 | 1 | 1 | 1 | 1 | 0.0023 | 0.011 | 0.0133 | 1 |
| 0 | 1 | 1 | 1 | 1 | 1 | 0.008 | 0.008 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 | 0 |
| 0 | 1 | 0 | 0 | 0 | 1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fed Tax Requirements Compliance | X | FedTaxRequirementsCompliance |
Form990 Schedule K Part VI Form990ScheduleKPartVI (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SchK_P02_S00_L03 | Schedule K, Part II, Line 3 | Proceeds of each issue are different than the issue price in Part I. column E, because the proceeds include interest earned. |
| SchK_P04_S00_L05 | Schedule K, Part IV, Line 5 | Column A: A rebate calculation was performed and there was no positive arbitrage. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part III Form990ScheduleLPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Interested Person | See Part V | NameOfInterestedPerson |
| Relationship With Organization | See Part V | RelationshipWithOrganization |
| Amount Of Grant | 39000 | AmountOfGrant |
| Type Of Assistance | Financial aid | TypeOfAssistance |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | SchL_P03_S00_L00 | Identifier |
| Return Reference | Schedule L, Part III | ReturnReference |
| Explanation | Amount of grant: $39,000. Type of assistance: financial aid. | Explanation |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 7 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 71873 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | ave. high/low on date sold | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| F990_P06_S0A_L06 | Form 990, Part VI, Section A, Line 6 | See responses to questions 7a and 7b. |
| F990_P06_S0A_L07a | Form 990, Part VI, Section A, Line 7a | In recognition of the establishment of the College by the F W Olin Foundation Inc and its Directors, and also to fulfill certain requirements of the Endowment Grant Agreement with the Foundation, the College has a special class of members ("Founding members") who have special rights and responsibilities regarding their election to the Board, the election of the Chairman of the Board, and the approval of certain changes in the bylaws and other matters. There are currently two remaining Founding members. The Founding members shall remain as such until their death or resignation. |
| F990_P06_S0A_L07b | Form 990, Part VI, Section A, Line 7b | The Founding members, acting by a majority of their number then in office, also have the following powers: (1) to approve, in advance, any proposed amendment to the bylaws that would in any way alter or affect article II and article III, or the rights and privileges of the Founding members, Founding Trustees and alternate Founding Trustees, as otherwise provided in the bylaws; (2) to approve, in advance, any proposed amendment to the College's articles of organization, (3) to approve, in advance, any proposed merger or consolidation of the College, (4) to approve, in advance, any proposed sale of all or substantially all of the assets of the College (except endowment and other investment assets at fair market value), (5) until May 15, 2017, or until the earlier death of the survivor of the two remaining Founding members, whichever first occurs, to elect the Chair of the Board in accordance with the Endowment Grant Agreement, and (6) by unanimous vote, must approve any changes to the Founding precepts. |
| F990_P06_S0B_L11b | Form 990, Part VI, Section B, Line 11b | The Form 990 is reviewed in detail with the Trustee Audit Committee prior to filing, and is posted on a secure internal web portal for all Trustees to review prior to filing. All Trustees are emailed a link to the internal web portal and notified that the Form 990 is available for review on that site. |
| F990_P06_S0B_L12c | Form 990, Part VI, Section B, Line 12c | All Officers, Trustees and Key Employees are required to disclose annually any direct or indirect financial or other material interest which he or she or a family member has or reasonably expects to have in any proposed or exising contract, transaction, or arrangement with the College prior to the start of any negotiations with respect to such matter. Such disclosures are reviewed by the Chairperson and Clerk of the Board. Final review of such situations is made by the full Board, the Executive Committee, or other Board committee having decision-making authority over the substantive matter in question. Any restrictions imposed on persons with a conflict would depend on the nature of the conflict. |
| F990_P06_S0B_L15 | Form 990, Part VI, Section B, Line 15 | On an annual basis, most recently in October 2012, the Executive Committee of the Board of Trustees reviews the President's salary. As part of their review, they consider comparable market data for the President's position, based on other engineering and liberal arts schools as reported in a salary survey published by CUPA (College and University Personnel Association). They also use data from CUPA on Boston-area private colleges and universities, and at least three other sources of data. On an annual basis, most recently in June 2012, the salaries of the key employees and Officers are reviewed and compared with market data. Human Resources obtains market data from a list of 13 comparable higher education institutions on an annual basis and compares the current salaries to the market data. We will make salary adjustments if necessary to bring employees to at least 80-85% of comparable market data. In addition, salaries of the key employees are compared to the CUPA salary survey as described above. This comparison to the CUPA data is reviewed by the Chairman of the Board to determine whether any market adjustments are necessary. Key employees and Officers are eligible to receive merit increases most years, based on performance, with the same criteria as other employees. The decisions regarding market adjustments are approved by independent persons, and all deliberations and decisions are substantiated contemporaneously. |
| F990_P06_S0C_L19 | Form 990, Part VI, Section C, Line 19 | The organizing documents, conflict of interest policy and financial statements are available to the public upon request. The audited financial statements and Form 990 are available via the Massachusetts Attorney General's website. The audited financial statements are also posted on the organization's website. The Form 990 is also available on www.guidestar.org. |
| F990_P07_S0A_L01a | Form 990, Part VII, Section A, Line 1a | The President, and the Dean of Student Life are provided non-taxable housing as a condition of employment. The College pays for landscaping and cleaning services at the president's house, which is owned by the College, due to the fact that certain College functions are held at the President's house. The benefit is not taxable to the President, it is part of the house maintenance. The College maintains a membership at a country club, under the name of the President. Certain officers and key employees are provided with a cell phone allowance which is grossed up. |
| F990_P11_S00_L05 | Form 990, Part XI, Line 5 | Net unrealized gains on investments: -$17,119,431 Change in FMV investment rate agreement: -$10,076,865 Total to Form 990, Part XI, Line 5: -$27,196,296 |
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