2011-05-13T11:48:57-05:00 2010-06-30 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2009-07-01 042452884 Newbury College inc NEWB 6177307000 129 Fisher Avenue Brookline MA 024455796 hannah mccarthy 6177307000 2011-05-11 1 DAVID A DIIULIS 6174711120 2011-05-11 2009 2016-02-24 21:20:13Z HANNAH MCCARTHY 129 fisher avenue brookline MA 02445 25497900 0 X www.newbury.edu X 1968 MA NEWBURY COLLEGE ENGAGES STUDENTS IN CAREER RELEVANT EDUCATION WITHIN A SUPPORTIVE LEARNING COMMUNITY RESPONSIVE TO THE NEEDS OF THE 21ST CENTURY.NEWBURY COLLEGE INTEGRATES GENERAL EDUCATION AND PROFESSIONAL EDUCATION WITH STUDENT LIFE PROGRAMMING AND EXPERIENTIAL OPPORTUNITIES TO MAXIMIZE STUDENT ACHIEVEMENT AND CREATIVITY. NEWBURY COLLEGE VALUES EXCELLENCE IN TEACHING, SUPPORTS THE PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF, AND ENCOURAGES THE REFINEMENT OF PROGRAMS AND SERVICES ESSENTIAL TO THE EVOLVING NEEDS OF ITS COMMUNITIES. NEWBURY COLLEGE ENDEAVORS TO GRADUATE STUDENTS WHO ARE PROFESSIONALLY COMPETENT, ETHICALLY AWARE, SOCIALLY RESPONSIBLE, AND PREPARED FOR LIFELONG LEARNING. 13 13 490 0 0 0 678396 583207 22904662 24745745 29669 12636 131038 23612727 25472626 6973872 7399594 0 5980168 6615750 0 0 9355994 9696983 22310034 23712327 1302693 1760299 19916430 20127509 15620501 14071281 4295929 6056228 NEWBURY COLLEGE ENGAGES STUDENTS IN CAREER RELEVANT EDUCATION WITHIN A SUPPORTIVE LEARNING COMMUNITY RESPONSIVE TO THE NEEDS OF THE 21ST CENTURY.NEWBURY COLLEGE INTEGRATES GENERAL EDUCATION AND PROFESSIONAL EDUCATION WITH STUDENT LIFE PROGRAMMING AND EXPERIENTIAL OPPORTUNITIES TO MAXIMIZE STUDENT ACHIEVEMENT AND CREATIVITY. NEWBURY COLLEGE VALUES EXCELLENCE IN TEACHING, SUPPORTS THE PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF, AND ENCOURAGES THE REFINEMENT OF PROGRAMS AND SERVICES ESSENTIAL TO THE EVOLVING NEEDS OF ITS COMMUNITIES. NEWBURY COLLEGE ENDEAVORS TO GRADUATE STUDENTS WHO ARE PROFESSIONALLY COMPETENT, ETHICALLY AWARE, SOCIALLY RESPONSIBLE, AND PREPARED FOR LIFELONG LEARNING. 0 0 7399594 student financial aid expense 4682899 instructional related expense 3707814 institutional support related expense 3983694 student service related expense other program services 3983694 19774001 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 27 0 1 490 1 0 0 0 0 0 0 0 0 0 0 0 0 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X JOYCE HANLON vice president of finance & cfo 6177307074 129 Fisher Avenue Brookline MA 024455796 Kay H Hodge ESQ 1.00 X 0 0 0 DIANE R GORDON 1.00 X 0 0 0 JANE LUNDQUIST 1.00 X 0 0 0 Dr J keith motley 1.00 X 0 0 0 laWRENCE E KAPLAN 1.00 X 0 0 0 David L Blessing Jr 1.00 X 0 0 0 Linda Champion ESQ 1.00 X 0 0 0 James Davis 1.00 X 0 0 0 FRED CASINELLI 1.00 X 0 0 0 chester e Homer III 1.00 X 0 0 0 norman levenson 1.00 X 0 0 0 laurie j watson 1.00 X 0 0 0 ROGER GORDON 1.00 X 0 0 0 hannah m mccarthy 37.50 X X X 200000 0 12864 joyce hanlon 37.50 X X X 145026 0 5383 JOSEPH CHILLO 37.50 X X X 115240 0 3697 HANNAH LEVERTOV 37.50 X X 83753 0 16373 PAUL MARTIN 37.50 X X 84710 0 8133 628729 0 46450 3 1 1 0 sodexHo inc and affiliates po box 360170 PITTSBURGH PA 15251 dining services 1323737 aramark corporation 525 monroe street chicago IL 60661 facility management 1254929 longwood security services 429 newbury street boston MA 02115 security 775559 brookline manor inc c/o bb lodging 48 north beacon st allston MA 02134 student housing 711704 bay state college 122 commonwealth avenue boston MA 02116 student housing 414835 7 583207 583207 Educational & general 611710 21052920 21052920 auxiliary enterprises 611710 3692825 3692825 24745745 12636 12636 156312 25274 131038 131038 25472626 24745745 0 143674 7399594 7399594 675179 526639 148540 4755446 3820386 935060 1185125 994844 190281 43529 43529 70000 70000 175371 68666 106705 92267 88382 3885 425045 370316 54729 52461 52461 17746 14425 3321 70153 65993 4160 732422 494657 237765 657584 486489 171095 451678 451678 contracted services 3666964 2775062 891902 catering and student fo 684874 675137 9737 utilities 630895 534832 96063 postage and shipping 434022 372358 61664 miscellaneous 302041 181243 120798 1189931 852517 337414 23712327 19774001 3938326 0 63246 73022 2211332 2562166 860000 460000 1598634 1688905 688899 889032 26367746 12719459 13712016 13648287 782303 806097 19916430 20127509 1764969 1602999 510363 451370 9950000 9665000 1427404 406851 1967765 1945061 15620501 14071281 X 2190436 4083177 439110 373051 1666383 1600000 4295929 6056228 19916430 20127509 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1666383 66383 1600000 1615829 50554 1666383 1.00000 0 0 2063000 2063000 14164904 4391699 9773205 10079504 8327760 1751744 60338 60338 13648287 refundable government grant & doe payable 1465522 interest rate swap liability 479539 1945061 25472626 23712327 1760299 0 1760299 18073032 0 18073032 7399594 7399594 25472626 16312733 0 16312733 7399594 7399594 23712327 part xii line 4b: student aid $7,399,594 part xiii line 4b: student aid $7,399,594 FIN 48 Footnote Newbury College, Inc. 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 College has identified this as a tax position. However, it has determined that this tax position meets more than likely not sustainability and does not result in an uncertainty requiring recognition. 1 1 1 NEWBURY COLLEGE, A NON-PROFIT ORGANIZATION EXEMP FROM STATE AND FEDERAL TAXES, ADMITS STUDENTS OF ANY AGE, RACE, COLOR, SEXUAL ORIENTATION AND NATIONAL AND ETHNIC ORGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS OF THE COLLEGE. IT DOES NOT DISCRIMINATE ON THE BASIS OF AGE, RACE, COLOR, SEX, SEXUAL ORIENTATION, RELIGION OR CREED, NATIONAL OR ETHINIC ORGIN, OR NON-DISQUALIFYING HANDICAP IN THE ADMINSTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC AND OTHER COLLEGE-ADMINISTERED PROGRAMS, AND IN ITS EMPLOYMENT POLICIES. ANY INQUIRIES OR GREVANCES CONCERNING THESE REGULATIONS MAY BE DIRECTED TO THE VICE PRESIDENT OF FINANCE, NEWBURY COLLEGE, 129 FISHER AVENUE, BROOKLINE, MASSACHUSETTS, 024455, (617) 730-7036 AND/OR DIRECTOR OF THE OFFICE OF CIVIL RIGHTS, US DEPARTMENT OF EDUCATION. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 FINANCIAL AID FUNDS ARE AWARDED ANNUALLY BY THE US DEPARTMENT OF EDUCATION UNDER EQUITY NUMBER 10424528841 AWARDS INCLUDE FUNDING GRANTS FOR PELL, SEOG, AND CWSP PROGRAMS, THE COLLEGE HAS A DETAILED LIST OF CRITERIA FOR STUDENTS COLLECTING FINANCIAL AID. 1 AUCTION 156312 156312 25274 156312 156312 25274 25274 131038 1 financial aid 720 7399594 Other Information: Part IV: THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY, AND CHECKING COMPLIANCE WITH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT EXPENSE FALLS WITHIN THE REQUIRED CATEGORIES AND BUDGET AMOUNTS. THE COLLEGE SETS UP A SEPARATE GENERAL LEDGER ACCOUNT FOR EACH GRANT THAT IS RECEIVED IN ORDER TO PROVIDE COMPLETE DOCUMENTATION AND TRACK EXPENSES. X 1 1 X X X 0 0 0 0 0 0 0 0 0 hannah m mccarthy 200000 0 0 0 0 0 0 0 12864 0 212864 0 200000 0 joyce hanlon 145026 0 0 0 0 0 0 0 5383 0 150409 0 133745 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RP66 2009-10-01 10250000 SEE SCHEDULE O 1 0 10305936 10064494 241442 1996 1 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 1 CITIZENS BANK 3.500000000000 0 0 0 Form 990, Part VI, Section B, line 11 the board of directors will review the 990 for accuracy before it is filed Form 990, Part VI, Section B, line 12c EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY B. HAS READ AND UNDERSTANDS THE POLICY C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THAT NEWBURY IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. Form 990, Part VI, Section B, line 15 THE compensation COMMITTEE OF THE BOARD SHALL REVIEW AND APPROVE THE COMPENSATION POLICIES AND PROGRAMS OF PRINCIPAL ADMINISTRATORS. THE POLICY OF THE COLLEGE IS TO PROVIDE DIRECT COMPENSATION PROGRAMS THAT REFLECT THE RELATIVE SIZE AND TYPE OF EDUCATION CURRICULUM OF THE COLLEGE IN THE SEGMENT OF HIGHER EDUCATION INSTITUTIONS OF WHICH IT IS A PART AND WHICH ACCOMPLISH THE COLLEGE'S MISSION AND TAX-EXEMPT PURPOSE WITHOUT CAUSING ANY PART OF THE COLLEGE'S NET EARNINGS TO eNSURE TO THE PRIVATE BENEFIT OF AN INDIVIDUAL OR GROUP OF INDIVIDUALS. THE COMMITTEE WILL ACCOMPLISH THIS POLICY IN THE FOLLOWING MANNER: - DETERMINE THE RELEVANT MARKET DATA FOR THE PRINCIPAL ADMINISTRATOR POSITION IT REVIEWS BY OBTAINING RELIABLE AND COMPARABLE DATA FROM PUBLISHED SURVEYS OF BOTH TAX-EXEMPT AND FOR-PROFIT ORGANIZATIONS FOCUSING ON DATA FROM COMPARABLY ORGANIZED INSTITUTIONS WITH SIMILARLY SIZED BUDGETS. - DEVELOP A TARGET BASE PAY RANGE BUILT OFF THE MEDIAN OF THE MARKET DATA. - SET BASE SALARY BY CONSIDERING BOTH MARKET DATA AND EACH INDIVIDUAL'S BACKGROUND EXPERIENCES, SKILLS, AND MERITORIOUS CONTRIBUTION. - SET SALARY INCREASE REASSESSMENTS BASED ON EXTERNAL EQUITY, INTERNAL EQUITY, AND/OR MERIT. Form 990, Part VI, Section C, line 19 THE COLLEGE MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVALIABLE TO THE PUBLIC UPON REQUEST form 990, part x1, line 2c THE BOARD OF TRUSTEES IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND THE HIRING OF AN INDEPENDENT ACCOUNTANT SCHEDULE K, PART I, LINE A, BOX F THE PURPOSE OF THE ISSUANCE WAS TO PAY CERTAIN COSTS OF ISSUANCE OF THE 2009 BOND AND CURRENT REFUND THE SERIES 1996 BOND. THE PROCEEDS OF THE 1996 BOND WERE USED FOR THE FOLLOWING: ACQUISITION OF BUCKMINSTER HALL AND hOLLAND HALL, COSTS OF CONSTRUCTION AND IMPROVEMENTS FOR BUILDINGS ON CAMPUS AND PURCHASE OF EQUIPMENT AND FURNITURE FOR CAMPUS BUILDINGS.