2011-11-14T12:01:06-06:00 2011-06-30 ALEXANDER ARONSON FINNING 21 EAST MAIN STREET WESTBOROUGH MA 01581 990 2010-07-01 222536037 ROXBURY COMMUNITY COLLEGE FOUNDATION C/O GMA FOUNDATIONS ROXB 6174267080 77 SUMMER STREET 8TH FLOOR BOSTON MA 021101006 SONIA ALLEYNE 6174267080 2011-11-04 1 MAUREEN STALEY CPA 5083669100 2010 2016-03-07 17:11:31Z SONIA ALLEYNE 77 SUMMER STREET 8TH FLOOR BOSTON MA 021101006 1077411 0 X N/A X 1983 MA THE FOUNDATION'S MISSION IS TO RAISE FUNDS FROM PRIVATE SOURCES TO SUPPORT THE EDUCATIONAL OPPORTUNITIES FOR THE STUDENTS OF ROXBURY COMMUNITY COLLEGE AND SUPPORT PROGRAMS, PROJECTS AND ACTIVITIES THAT BENEFIT BOTH THE COLLEGE AND ITS STUDENTS. 4 2 0 4 0 0 353088 498693 0 0 38382 70583 15946 5517 407416 574793 123397 531266 0 0 0 0 0 0 2107 64977 74109 188374 605375 219042 -30582 3033661 3433152 137969 174770 2895692 3258382 X THE FOUNDATION'S MISSION IS TO RAISE FUNDS FROM PRIVATE SOURCES TO SUPPORT THE EDUCATIONAL OPPORTUNITIES FOR THE STUDENTS OF THE ROXBURY COMMUNITY COLLEGE AND SUPPORT PROGRAMS, PROJECTS AND ACTIVITIES THAT BENEFIT BOTH THE COLLEGE AND ITS STUDENTS. 0 0 495703 492945 COLLEGE GRANTS: (1) GRANTS TO PURCHASE EQUIPMENT AND SUPPLIES FOR ROXBURY COMMUNITY COLLEGE'S LIFE SCIENCES & NURSING DEPARTMENTS AS WELL AS THE COLLEGE'S STUDENT LOUNGE AREA. (2) SUPPORT OF THE RCC SUPPLEMENTAL INSTRUCTION (SI) PROGRAM WHICH TARGETS DEVELOPMENTAL MATH STUDENTS AND PROVIDES REGULARLY SCHEDULED OUT-OF-CLASS, PEER-FACILITATED GROUP STUDY SESSIONS THAT ARE DEVOTED TO REINFORCING THE INFORMATION AND SKILLS LEARNED IN THE CLASSES. APPROXIMATELY 150 STUDENTS WERE SERVED BY THE SI PROGRAM (3) SUPPORT FOR RCC'S MENTORING FOR SUCCESS PROGRAM; AN EFFORT TO INCREASE SUPPORT FOR ROXBURY STUDENTS TO ENABLE THEM TO IMPROVE ACADEMIC PERFORMANCE, INCREASE RETENTION, GRADUATION AND MATRICULATION TO 4-YEAR INSTITUTIONS. 30799 30799 SCHOLARSHIP: TO PROVIDE SCHOLARSHIP SUPPORT TO STUDENTS IN NEED WHO HAVE ACHIEVED SCHOLARSHIP HONORS AND ARE RECOGNIZED BY THE FACULTY. IN FISCAL YEAR 2011, THIS PROGRAM SERVED 94 STUDENTS. 6805 6186 COMMUNITY EDUCATION: THE GENERAL EDUCATION DEVELOPMENT (GED) PROGRAM IS A COLLABORATIVE EFFORT WITH THE DUDLEY BRANCH LIBRARY AND THE DUDLEY LITERACY CENTER THAT WILL HELPS STUDENTS IMPROVE SKILLS IN PREPARATION OF TAKING THE GED EXAM. 1336 1336 EMERGENCY GRANTS - GRANTS MADE ON AN EMERGENCY BASIS TO THOSE WHO HAVE PROVEN NEEDS. 1336 1336 534643 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 X 4 2 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X X PAMELA MAKSY GMA FOUNDATIONS 6174267080 77 SUMMER ST BOSTON MA 021101006 X DAWN PERRY ESQ 2.50 X X 0 0 0 SONIA L ALLEYNE MPA 2.50 X X 0 0 0 ELIZABETH CLARK MED 0.50 X 0 0 0 KEITH CASTLE 0.50 X 0 0 0 JUDITH L KAHALAS 2.50 X X 0 0 0 DR TERRENCE A GOMES 0.50 X 0 0 0 0 0 0 0 0 0 0 0 5710 492983 498693 73996 73996 487374 490787 -3413 -3413 -3413 17348 5710 11831 5517 5517 574793 -3413 0 79513 499131 499131 32135 32135 65196 65196 5484 3377 2107 298 298 2414 2414 MISCELLANEOUS 717 717 605375 534643 68625 2107 45337 25714 751509 617722 80447 209258 4050 3500 1902 2016 2150416 2574942 3033661 3433152 126659 170750 11310 4020 137969 174770 X 44237 86755 1072121 1358976 1779334 1812651 2895692 3258382 3033661 3433152 X -30582 393272 X X 0 1 1 X 0 X X X 0 0 0 ROXBURY COMMUNITY COLLEGE OF ROXBURY MASSACHUSETTS 042726857 2 1 1 1 502508 1 502508 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2141253 7774 450690 46431 2553286 2020602 5000 156076 50425 2141253 2145071 193909 -305453 2925 2030602 0.02050 0.70990 0.26960 0 0 0 574793 605375 -30582 393272 393272 362690 979896 393272 393272 586624 -11831 -11831 574793 617206 11831 11831 605375 0 605375 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE RESTRICTED BY THE DONOR AGAINST ANY EXPENDITURE OF PRINCIPAL. THESE FUNDS ARE RESTRICTED FOR VARIOUS SCHOLARSHIP AND LOAN PROGRAMS AS WELL AS VARIOUS ACADEMIC PURPOSES SOLELY FOR ROXBURY COMMUNITY COLLEGE. THE FOUNDATION FOLLOWS THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (UPMIFA) GUIDELINES ON THE MANAGEMENT AND INVESTMENT OF ENDOWMENT FUNDS. THE FOUNDATION'S BOARD OF DIRECTORS ESTABLISHED A SPENDING POLICY WHICH ALLOWS FOR UP TO FIVE PERCENT OF THE THREE YEAR QUARTERLY MOVING AVERAGE MARKET VALUE OF THE INVESTMENT PORTFOLIO TO BE USED TO FUND OPERATIONS AND PROGRAMS FOR ANY GIVEN YEAR. FOR THE YEAR ENDING JUNE 30, 2011, THERE WAS A $26,500 SPENDING POLICY TRANSFER. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD WHICH REQUIRES THE FOUNDATION TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF JUNE 30, 2011, THE FOUNDATION DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. INFORMATION RETURNS FILED FOR THE YEARS ENDED JUNE 30, 2010, 2009, AND 2008, REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND MASSACHUSETTS. THE FOUNDATION DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE MONTHS. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE -11,831. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 11,831. GOLF OUTING 20580 5710 14870 1339 5770 1919 2803 20580 5710 14870 1339 5770 1919 2803 11831 3039 1 ROXBURY COMMUNITY COLLEGE 1234 COLUMBUS AVENUE ROXBURY CROSSING MA 02120 042726857 115 499131 VARIOUS GRANTS FOR THE FOLLOWING PURPOSES:-BIOTECH/LIFE SCIENCES & NURSING PROGRAMS-STUDENT LOUNGE EQUIPMENT-GED PROGRAM -LIBRARY BOOKS-MEDIA ARTS CENTER-ATHLETICS AND SUPPORT OF REGGIE LEWIS TRACK AND ATHLETIC CENTER-MENTORING FOR SUCCESS PROGRAM-STUDENT SUPPLEMENTAL INSTRUCTION PROGRAM-ALUMNI DATABASE DEVELOPMENT-EMPLOYEE & STUDENT RECOGNITION ACTIVITIES SCHOLARSHIPS 34 23250 BOOK SCHOLARSHIPS 60 6649 COLLEGE GRANTS 7 2236 WILLIAM SAPERS SEE SCHEDULE O 0 SCHEDULE L, PART IV TRANSACTIONS WITH INTERESTED PERSONS DURING FISCAL YEAR 2008, THE FOUNDATION PURCHASED A $500,000 SINGLE PREMIUM IMMEDIATE ANNUITY WITH WILLIAM SAPERS, A FORMER BOARD MEMBER, AS THE ANNUITANT. THE FOUNDATION ALSO PURCHASED A $500,000 FLEXIBLE PREMIUM UNIVERSAL LIFE INSURANCE POLICY ON THE ANNUITANT'S LIFE. THE ANNUITANT AND HIS DAUGHTER EACH HAVE A 33% INTEREST IN THE INSURANCE COMPANY. IN 2011, ANNUITY INTEREST INCOME OF $40,095 WAS RECEIVED DIRECTLY BY THE FOUNDATION, NET OF LIFE INSURANCE PREMIUM EXPENSE OF $24,821. FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION UTILIZES AN EXTERNAL CONSULTANT, GMA FOUNDATIONS TO DO BOOKKEEPING, PROGRAM ADMINISTRATION AND FINANCIAL CONSULTING. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE 990 IS REVIEWED BY THE FINANCE COMMITTEE WHO THEN FORWARDS IT TO THE THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. UPON APPROVAL, THE EXECUTIVE DIRECTOR OF THE FOUNDATION SIGNS THE 990. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION REGULARLY UPDATES AND DISTRIBUTES COPIES OF THE FINANCIAL CONTROL MANUAL AND EACH DIRECTOR IS ASKED IF THEY HAVE READ AND UNDERSTOOD IT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE FORWARDED TO THE COLLEGE AND MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 393,272. FORM 990, PART XI, LINE 2C THE FINANCE COMMITTEE AND THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR THE SELECTION AND RETENTION OF AUDITORS AS WELL AS OVERSIGHT OF THE AUDIT OF THE FOUNDATION.