Civic Intelligence

Springfield College

990 • Fiscal year 2021 • EIN 04-2104329

Jul 01, 2020 to Jun 30, 2021 • Filed on May 05, 2022

Refreshing map…

263 Alden StreetSpringfield, MA 01109

(413) 748-3145

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.30x

Higher debt load relative to assets than 51% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

48th percentile

0.50x

Higher debt load relative to revenue than 48% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Net Margin

38th percentile

4.8%

Higher net margin than 38% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

41st percentile

$616,074

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Asset Growth

39th percentile

9.6%

Faster asset growth than 39% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

26th percentile

1.7%

Faster revenue growth than 26% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Assets

Up

$272,289,187

Up $23,883,905 (+9.6%) from 2020

Net Assets

Up

$190,440,844

Up $27,646,223 (+17%) from 2020

Liabilities

Down

$81,848,343

Down $3,762,318 (-4.4%) from 2020

Revenue

Up

$162,366,870

Up $2,769,052 (+1.7%) from 2020

Expenses

Down

$154,651,045

Down $8,023,827 (-4.9%) from 2020

Net Income

Up

$7,715,825

Up $10,792,879 (+351%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2011: $228,027,146Liabilities 2011: $97,601,188Net Assets 2011: $130,425,9582011Assets 2012: $237,033,609Liabilities 2012: $94,115,136Net Assets 2012: $142,918,4732012Assets 2013: $242,958,443Liabilities 2013: $90,645,454Net Assets 2013: $152,312,9892013Assets 2014: $253,155,569Liabilities 2014: $87,925,868Net Assets 2014: $165,229,7012014Assets 2015: $252,501,332Liabilities 2015: $86,132,496Net Assets 2015: $166,368,8362015Assets 2016: $259,039,670Liabilities 2016: $100,271,568Net Assets 2016: $158,768,1022016Assets 2017: $268,362,000Liabilities 2017: $99,595,634Net Assets 2017: $168,766,3662017Assets 2018: $264,700,218Liabilities 2018: $92,538,645Net Assets 2018: $172,161,5732018Assets 2019: $260,469,678Liabilities 2019: $90,342,487Net Assets 2019: $170,127,1912019Assets 2020: $248,405,282Liabilities 2020: $85,610,661Net Assets 2020: $162,794,6212020Assets 2021: $272,289,187Liabilities 2021: $81,848,343Net Assets 2021: $190,440,8442021Assets 2022: $306,479,974Liabilities 2022: $140,937,376Net Assets 2022: $165,542,5982022Assets 2023: $303,553,641Liabilities 2023: $139,136,778Net Assets 2023: $164,416,8632023Assets 2024: $291,807,069Liabilities 2024: $130,465,594Net Assets 2024: $161,341,4752024

Highlighted filing

2021

Assets$272,289,187
Liabilities$81,848,343
Net Assets$190,440,844

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2011: $143,969,0302011Expenses 2012: $147,940,4992012Revenue 2013: $157,021,987Expenses 2013: $152,835,230Net Income 2013: $4,186,7572013Revenue 2014: $157,821,326Expenses 2014: $152,663,561Net Income 2014: $5,157,7652014Revenue 2015: $160,315,701Expenses 2015: $155,917,458Net Income 2015: $4,398,2432015Revenue 2016: $161,422,846Expenses 2016: $158,061,587Net Income 2016: $3,361,2592016Revenue 2017: $161,221,190Expenses 2017: $158,142,799Net Income 2017: $3,078,3912017Revenue 2018: $165,772,168Expenses 2018: $165,046,520Net Income 2018: $725,6482018Revenue 2019: $161,586,662Expenses 2019: $161,588,890Net Income 2019: -$2,2282019Revenue 2020: $159,597,818Expenses 2020: $162,674,872Net Income 2020: -$3,077,0542020Revenue 2021: $162,366,870Expenses 2021: $154,651,045Net Income 2021: $7,715,8252021Revenue 2022: $164,550,392Expenses 2022: $165,696,200Net Income 2022: -$1,145,8082022Revenue 2023: $154,906,249Expenses 2023: $165,147,686Net Income 2023: -$10,241,4372023Revenue 2024: $158,203,206Expenses 2024: $166,197,029Net Income 2024: -$7,993,8232024

Highlighted filing

2021

Revenue$162,366,870
Expenses$154,651,045
Net Income$7,715,825
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 5, 2022
Return Version
2020v4.2
Gross Receipts
$187,532,640
Mission and Program Overview

Mission

The mission of springfield college is to educate students in spirit, mind and body for leadership in service to others by building on a foundation of the college's humanics philosophy, academic excellence, service, and student success. Springfield college is a private, coeducational institution offering bachelor, master, and doctoral degrees

The mission of springfield college is to educate students in spirit, mind and body for leadership in service to others by building on a foundation of the college's humanics philosophy, academic excellence, service, and student success. Springfield college is a private, coeducational institution offering bachelor, master, and doctoral degrees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$105,263,616$124,989,398▲ $19,725,782
Land, Buildings, and Equipment, Net$122,514,572$117,510,437▼ $5,004,135
Investments Other Securities$5,402,546$9,683,350▲ $4,280,804
Cash and Non-Interest-Bearing Accounts$3,527,593$7,527,337▲ $3,999,744
Accounts Receivable$3,364,225$3,870,528▲ $506,303
Prepaid Expenses and Deferred Charges$3,517,750$3,251,631▼ $266,119
Pledges and Grants Receivable$1,946,819$2,717,640▲ $770,821
Other Notes and Loans Receivable, Net$2,216,136$1,708,890▼ $507,246
Savings and Temporary Cash Investments$276,181$704,045▲ $427,864
Inventories for Sale or Use$374,844$325,431▼ $49,413
Receivables From Officers Etc$1,000$500▼ $500
Total Assets$248,405,282$272,289,187▲ $23,883,905
Liabilities
Tax Exempt Bond Liabilities$63,200,745$60,323,292▼ $2,877,453
Accounts Payable and Accrued Expenses$9,841,325$8,657,427▼ $1,183,898
Deferred Revenue$6,014,431$5,627,664▼ $386,767
Other Liabilities$4,745,551$4,500,651▼ $244,900
Grants Payable$3,255,003$2,739,309▼ $515,694
Total Liabilities$87,057,055$81,848,343▼ $5,208,712
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$91,822,350$99,968,519▲ $8,146,169
Net Assets With Donor Restrictions$69,525,877$90,472,325▲ $20,946,448
Total Net Assets Fund Balance$161,348,227$190,440,844▲ $29,092,617
Total Liabilities and Net Assets / Fund Balance$248,405,282$272,289,187▲ $23,883,905

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$40,218,908$64,951,470$105,170,378
Buildings$64,540,171$39,470,439$104,010,610
Equipment$5,728,423$44,387,857$50,116,280
Other Land Buildings$1,420,505$6,770,017$8,190,522
Land$5,602,430-$5,602,430

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$80,802,489$1,170,629▲ $26,595,860-$105,105,857
2019$79,000,432$5,236,284▼ $120,315-$80,802,489
2018$76,969,392$1,885,641▲ $3,289,934-$79,000,432
2017$71,422,251$3,490,979▲ $4,802,715-$76,969,392
2016$61,137,906$4,716,855▲ $8,399,090-$71,422,251
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary-beth a CooperPresidentFT$534,399$82,072$616,471
John L MailhotVP for Finance & Admin/treFT$244,066$41,023$285,089
Martha a PotvinVP for Academic Affairs/prFT$235,776$38,691$274,467
Patrick G LoveInterim VP for Student AffFT$209,864$27,884$237,748
John a WhiteExecutive Director for Corporate Par-$121,507$116,023$237,530
John a WhiteExecutive Director for Corporate PartnershipsFT$121,731$115,586$237,317
Linda K MorganVP and General Counsel/secFT$204,609$19,113$223,722
Stuart D JonesVP for Enrollment ManagemeFT$191,922$29,663$221,585
Julie Tyson ConsidineSr. Associate VP and Director of Dev-$171,281$46,106$217,387
Julie Tyson ConsidineSr. Associate VP and Director of DevelopmentFT$171,647$45,452$217,099
Kathleen a MartinChief of StaffFT$172,784$29,010$201,794
Brooke HallowellDean of Health Sciences &FT$172,778$23,737$196,515
Mary Ann CoughlinSr. Associate VP of AcademFT$166,691$25,367$192,058
Calvin R HillVP for Inclusion and CommuFT$161,189$16,790$177,979
James D HarnsbergerAssociate VP Graduate EducFT$150,899$17,638$168,537
Mary Susan GuyerDean, School of Phys Ed., Perf, Spor-$144,524$23,416$167,940
Mary Susan GuyerDean, School of Phys Ed., Perf, Sports LdrshipFT$144,881$22,913$167,794
Anthony MuttiChief Information OfficerFT$155,769$10,731$166,500
Kristian Z RhimStudent Trustee-$286-$286

Highest Paid Contractors

ContractorServicesLocationCompensation
Harvest TableDining Services2400 MARKET STREET, Philadelphia, PA 19103$3,345,313
Aramark CorporationDining Services263 ALDEN STREET, Springfield, MA 01109$2,192,254
Slam Collaborative INCArchitect80 GLASTONBURY BOULEVARD, Glastonbury, CT 06033$607,231
Carnegie Dartlet LLCMarketing210 LITTLETON ROAD SUITE 100, Westford, MA 01886$528,654
Adp INCPayroll ServicesONE ADP PLAZA, Milford, CT 06461$479,217
Revenue and Support

Revenue Composition

Contributions and Grants
$15,942,743
Program Service Revenue
$137,447,966
Investment Income
$8,752,176
Other Revenue
$223,985
All Other Contributions
$4,684,578
Change in Net Assets
$7,715,825

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded22$464,127Fair Market Value
Other Non Cash Contri Table25$25Estimated Value
Total Noncash Contributions47$464,152-

Audited Revenue Reconciliation

Revenue per Audited Statements
$162,016,914
Revenue Not Reported on Financial Statements
$349,956
Revenue Not Reported on Form 990
$-35,840,973
Total Revenue per Audited Statements
$126,175,941
Total Revenue per Form 990
$162,366,870
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$58,947,206
Salaries, Compensation, and Employee Benefits$57,489,143
Other Expenses$38,186,196
Total Fundraising Expense$2,226,495
Professional Fundraising Fees$28,500

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$58,947,206--$58,947,206
Other Salaries and Wages$39,046,158$2,387,626$1,164,604$42,598,388
Depreciation Depletion$7,456,620$787,087$41,426$8,285,133
Office Expenses$7,161,710$506,758$196,137$7,864,605
Other Employee Benefits$6,355,198$393,154$231,134$6,979,486
Occupancy$5,217,178$266,757$14,041$5,497,976
Payroll Taxes$3,201,278$213,970$105,437$3,520,685
Pension Plan Contributions$2,047,955$116,497$74,009$2,238,461
Current Officers, Directors, Trustees, and Key Employees$1,670,627$338,942$142,554$2,152,123
Information Technology$1,474,487$502,187$16,955$1,993,629
Interest$1,782,613$188,165$9,903$1,980,681
Fees for Services Other$1,570,003$286,434$5,236$1,861,673
Insurance$701,495$356,093-$1,057,588
Advertising$690,640$7,373-$698,013
Other Expenses$515,932$31,463$192,442$515,932
Fees for Service Investment Mgmnt Fees$349,956--$349,956
Travel$164,873$5,049$1,365$171,287
Fees for Services Accounting-$112,005-$112,005
Fees for Services Legal-$42,633-$42,633
Fees for Services Professional Fundraising--$28,500$28,500
Total Functional Expenses$145,546,946$6,877,604$2,226,495$154,651,045

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$154,651,045
Expenses per Audited Statements$97,083,324
Total Expenses per Audited Statements$97,083,324
Expenses Not Reported on Financial Statements$57,567,721
Other Expense Adjustments$57,217,765
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$20,130

International Compliance

Activity in boycott countries
Yes
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and GreenlandProgram ServicesEducational/research--$9,612
Russia and the Newly IndependentProgram ServicesEducational/research--$3,819
Sub-saharan AfricaProgram ServicesEducational/research--$3,294
East Asia and the PacificProgram ServicesEducational/research--$2,995
South AsiaProgram ServicesEducational/research--$410
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$28,500
Fundraising Direct Expenses$19,625
Fundraising Gross Income$15,330

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Athletics Golf Tournament$41,480$15,330$949$14,381
Total Events$41,480$15,330$19,625$-4,295
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,000$500▼ $500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Taxable Debt$2,182,262
Asset Retirement Obligations$1,691,236
Accounts Held for Others$406,913
Capital Lease Obligations$220,240

Bond Issues

BondIssuerIssuedIssue PricePurpose
BMdfa Revenue Bonds 20162016-06-23$63,125,000Refinance and construction
AMdfa Revenue Bonds 20122012-11-08$10,315,000Private placement refinancing of outstanding debt

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$63,210,360$47,516,213$9,550,144$738,512
A$10,315,000$10,136,830$3,424,171$178,170

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Irs form 990 is prepared by the controller and vice president for finance and administration. The form 990 and accompanying schedules, along with relevant supporting materials, are subsequently reviewed by an independent accounting firm. The form 990 is then provided to the audit and compliance committee of the board of trustees for review, discussion and approval. The completed and approved form 990 is then made available to the entire board of trustees prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

Conflict of interest statements for board of trustee members, officers and designated employees are completed annually and are reviewed by internal audit personnel, legal counsel and the audit and compliance committee of the board of trustees. Statements are filed in the office of the trustees. Form 990, part vi, section b, line 14: springfield college has a record retention policy; however the policy was not approved by the board of trustees as of june 30, 2021.

Form 990, Part VI, Section B, Line 15

The board of trustees reviews the president's overall compensation package in comparison to industry standards and peer institutions. Officers and key employees' salaries are determined by the president, using external bench-marking and within budget constraints established by the board.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available upon request.

FORM 990, PART VII, SECTION A, LINE 1A:

Board members are not compensated for their board service, but may receive compensation for other services, such as faculty, adjunct or student employment.

Filing and Contact Details

Filer

Filer Name
Springfield College
EIN
04-2104329
Phone
4137483145
Address
263 ALDEN STREET, SPRINGFIELD, MA 01109

Signing Officer

Name
Mary-beth Cooper
Title
President
Phone
4137483145
Signed
2022-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary-beth Cooper
Formed
1890
Legal Domicile
Ma
Voting Board Members
32
Independent Board Members
30
Employees
2,509
Volunteers
300

Preparer

Firm
Cohnreznick Llp
Address
350 CHURCH STREET 12TH FLOOR, HARTFORD, CT 06103
Preparer
Lori Rothe Yokobosky CPA
Phone
9592007000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in fair value of interest rate swap 665,825.

FORM 990, PART XII, LINE 2C:

The organization has a committee responsible for the oversight of the audit as well as the selection of the independent accountant.

Financial Statement Notes

PART III, LINE 4:

Art work was donated in 1978. Works are on display to the public in various locations on the main campus and are preserved for future use.

PART V, LINE 4:

Board designated funds are to be used as needed to fund scholarships, capital expenditures, general expenditures and provide program support. Permanent endowed funds are to be retained permanently according to donor stipulation or maupmifa. Donor restricted endowed funds are to be used according to donor stipulations.

PART X, LINE 2:

The college has been granted tax-exempt status under the internal revenue code section 501(a) as an organization described in section 501(c)(3) and, accordingly, does not provide for income taxes. However, the college is subject to unrelated business income taxes related to other program income and such taxes are included in management and general expenses in the statements of activities. The college had no uncertain tax positions at june 30, 2021 or 2020. The college's federal information returns prior to fiscal year 2018 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in fair value of swap 665,825. Financial aid to students -58,947,206. Other (cares act student portion) 1,729,441.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid to students 58,947,206. Other (cares act student portion) -1,729,441.

Raw XML AppendixShowing 400 of 1,399 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE COLLEGE EMPHASIZES THE EDUCATION OF LEADERS FOR APPROXIMATELY 45 UNDERGRADUATE MAJORS AND 11 GRADUATE PROGRAMS IN HEALTH SERVICES, HUMAN AND SOCIAL SERVICES, HUMAN PERFORMANCE AND SPORT STUDIES, AND THE ARTS AND SCIENCES, INCLUDING DOCTORAL DEGREES IN PHYSICAL EDUCATION, PHYSICAL THERAPY AND COUNSELING PSYCHOLOGY.
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