Civic Intelligence

Springfield College

990 • Fiscal year 2022 • EIN 04-2104329

Jul 01, 2021 to Jun 30, 2022 • Filed on May 04, 2023

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

64th percentile

0.46x

Higher debt load relative to assets than 64% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

71st percentile

0.86x

Higher debt load relative to revenue than 71% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Net Margin

29th percentile

-0.7%

Higher net margin than 29% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

41st percentile

$657,096

Higher top officer pay than 41% of similar nonprofits.

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

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Asset Growth

84th percentile

13%

Faster asset growth than 84% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

40th percentile

1.3%

Faster revenue growth than 40% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Up

$306,479,974

Up $34,190,787 (+13%) from 2021

Net Assets

Down

$165,542,598

Down $24,898,246 (-13%) from 2021

Liabilities

Up

$140,937,376

Up $59,089,033 (+72%) from 2021

Revenue

Up

$164,550,392

Up $2,183,522 (+1.3%) from 2021

Expenses

Up

$165,696,200

Up $11,045,155 (+7.1%) from 2021

Net Income

Down

-$1,145,808

Down $8,861,633 (-115%) from 2021

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

2022

Assets$306,479,974
Liabilities$140,937,376
Net Assets$165,542,598

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

2022

Revenue$164,550,392
Expenses$165,696,200
Net Income-$1,145,808
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 4, 2023
Return Version
2021v4.2
Gross Receipts
$174,213,487
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$124,989,398$145,437,252▲ $20,447,854
Land, Buildings, and Equipment, Net$117,510,437$123,304,642▲ $5,794,205
Investments Other Securities$9,683,350$14,221,780▲ $4,538,430
Cash and Non-Interest-Bearing Accounts$7,527,337$7,694,601▲ $167,264
Accounts Receivable$3,870,528$4,380,354▲ $509,826
Prepaid Expenses and Deferred Charges$3,251,631$3,999,902▲ $748,271
Pledges and Grants Receivable$2,717,640$2,414,643▼ $302,997
Other Notes and Loans Receivable, Net$1,708,890$1,243,957▼ $464,933
Inventories for Sale or Use$325,431--
Savings and Temporary Cash Investments$704,045$32,676▼ $671,369
Receivables From Officers Etc$500--
Total Assets$272,289,187$306,479,974▲ $34,190,787
Other Assets Total$0$3,750,167▲ $3,750,167
Liabilities
Tax Exempt Bond Liabilities$60,323,292$117,671,931▲ $57,348,639
Accounts Payable and Accrued Expenses$8,657,427$9,615,493▲ $958,066
Other Liabilities$4,500,651$5,866,157▲ $1,365,506
Deferred Revenue$5,627,664$5,512,554▼ $115,110
Grants Payable$2,739,309$2,271,241▼ $468,068
Total Liabilities$81,848,343$140,937,376▲ $59,089,033
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$99,968,519$85,376,337▼ $14,592,182
Net Assets With Donor Restrictions$90,472,325$80,166,261▼ $10,306,064
Total Net Assets Fund Balance$190,440,844$165,542,598▼ $24,898,246
Total Liabilities and Net Assets / Fund Balance$272,289,187$306,479,974▲ $34,190,787

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$37,744,200$68,964,818$106,709,018
Buildings$62,605,642$41,265,127$103,870,769
Equipment$4,617,778$44,906,805$49,524,583
Other Land Buildings$12,734,592$1,161,292$13,895,884
Land$5,602,430-$5,602,430

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$105,105,857$2,403,823▼ $12,970,131-$90,887,973
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary-beth a CooperPresidentFT$514,186$143,338$657,524
Martha a PotvinVP for Academic Affairs/provostFT$219,722$43,317$263,039
Linda K MorganVP & General Counsel/secretaryFT$192,269$38,914$231,183
William GuerreroVP for Fin & Admin/treasurerFT$194,683$23,097$217,780
Patrick G LoveAssistant VP Finance & Administratio-$192,077$23,143$215,220
Patrick G LoveAssistant VP Finance & AdministrationFT$193,295$21,578$214,873
Stuart D JonesVP for Enrollment ManagementFT$187,224$25,618$212,842
John a WhiteEd for Corporate PartnershipsFT$117,543$94,859$212,402
Mary Ann CoughlinInterim VP for Academic Affairs/prov-$176,679$21,048$197,727
Mary Ann CoughlinInterim VP for Academic Affairs/provostFT$177,334$20,073$197,407
Wesley ChurchDean of School of Social Work, Behav-$152,651$38,226$190,877
Wesley ChurchDean of School of Social Work, Behavioral SciencesFT$152,955$37,548$190,503
Julie Tyson ConsidineSr. Associate VP & Director of Devel-$149,691$40,244$189,935
Julie Tyson ConsidineSr. Associate VP & Director of DevelopmentFT$150,004$39,556$189,560
Kathleen a MartinChief of StaffFT$156,152$32,911$189,063
Mark SuazoProfessorFT$147,310$40,598$187,908
Brooke HallowellDean, School of Health SciencesFT$161,914$24,055$185,969
Mary Susan GuyerDean, School of Phys Ed., Perf, Spor-$158,594$21,102$179,696
Mary Susan GuyerDean, School of Phys Ed., Perf, Sports LdrshipFT$159,162$20,160$179,322
Calvin R HillVP for Inclusion & Community Engagem-$157,331$13,301$170,632
Calvin R HillVP for Inclusion & Community EngagementFT$157,629$12,630$170,259
Stephen a RoulierVP Communications & External AffairsFT$137,560$27,031$164,591
Craig F PoissonExecutive Director AthleticsFT$142,182$21,364$163,546
Anthony MuttiChief Information OfficerFT$151,000$11,048$162,048
Sabrina WilliamsStudent Trustee-$1,078-$1,078

Highest Paid Contractors

ContractorServicesLocationCompensation
Harvest TableDining Services2400 MARKET STREET, Philadelphia, PA 19103$7,342,840
Slam Collaborative INCArchitect80 GLASTONBURY BOULEVARD, Glastonbury, CT 06033$1,583,406
Frank Capasso & Sons INCConstruction1003 MIDDLETOWN AVENUE, Northford, CT 06472$1,086,946
Ellucian Company LPSoftware/consulting2003 EDMUND HALLEY DRIVE SUITE 500, Reston, VA 20191$1,033,165
Adp INCPayroll ServicesONE ADP PLAZA, Milford, CT 06461$523,262
Revenue and Support

Revenue Composition

Contributions and Grants
$20,219,337
Program Service Revenue
$137,546,048
Investment Income
$6,548,129
Other Revenue
$236,878
All Other Contributions
$4,759,774
Change in Net Assets
$-1,145,808

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 Traded16$414,182Fair Market Value
Other Non Cash Contri Table2$1,444Fair Market Value
Food Inventory1$450Fair Market Value
Total Noncash Contributions19$416,076-

Audited Revenue Reconciliation

Revenue per Audited Statements
$164,202,534
Revenue Not Reported on Financial Statements
$347,858
Revenue Not Reported on Form 990
$-80,341,180
Total Revenue per Audited Statements
$83,861,354
Total Revenue per Form 990
$164,550,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$63,052,627
Salaries, Compensation, and Employee Benefits$58,815,288
Other Expenses$43,828,285
Total Fundraising Expense$2,608,670
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$63,052,627--$63,052,627
Other Salaries and Wages$39,584,149$2,455,790$1,367,474$43,407,413
Office Expenses$7,279,325$746,530$487,669$8,513,524
Depreciation Depletion$7,010,697$740,018$38,948$7,789,663
Other Employee Benefits$5,927,337$366,820$195,022$6,489,179
Occupancy$5,447,098$277,022$14,581$5,738,701
Payroll Taxes$2,959,309$206,950$114,046$3,280,305
Interest$2,855,412$301,390$15,863$3,172,665
Fees for Services Other$2,467,103$465,628$27,763$2,960,494
Pension Plan Contributions$2,457,063$113,428$90,756$2,661,247
Current Officers, Directors, Trustees, and Key Employees$2,107,081$449,163$68,297$2,624,541
Information Technology$1,543,317$549,621$1,000$2,093,938
Insurance$831,703$447,883-$1,279,586
Travel$911,908$25,585$41,684$979,177
Advertising$768,624$10,113-$778,737
Fees for Services Legal-$645,026-$645,026
All Other Expenses$348,902$60,216$144,921$554,039
Comp Disqual Persons$95,191$63,460$193,952$352,603
Fees for Service Investment Mgmnt Fees$347,858--$347,858
Fees for Services Accounting-$105,300-$105,300
Other Expenses$253,200$19,284$-193,909$78,575
Total Functional Expenses$155,027,053$8,060,477$2,608,670$165,696,200

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$165,696,200
Expenses per Audited Statements$106,756,742
Total Expenses per Audited Statements$106,756,742
Expenses Not Reported on Financial Statements$58,939,458
Other Expense Adjustments$58,591,600
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$375,811

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
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$330,356
East Asia and the PacificProgram ServicesEducational/research--$26,605
Europe (including Iceland and GreenlandProgram ServicesEducational/research--$18,350
Middle East and North AfricaProgram ServicesEducational/research--$500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$28,685
Fundraising Direct Expenses$27,702
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Athletics Golf Tournament$64,990$28,685$2,872$25,813
Total Events$64,990$28,685$27,702$983
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$4,137,506
Asset Retirement Obligations$1,691,602
Accounts Held for Others$37,049

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMdfa Revenue Bonds 20212021-12-01$119,999,772Refinance of existing bond & finance of building and other capital projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$120,108,754$62,690,444$800,833$2,071,719

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

In 2022 the college contracted with jlm consulting, llc to provide oversight of the finance and administration division during the absence of a vice president for finance and administration. Compensation rendered for services was $84,000.

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

Irs form 990 is prepared by the associate vice president for finance & administration/controller. 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, 2022.

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
2023-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary-beth Cooper
Formed
1890
Legal Domicile
Ma
Voting Board Members
28
Independent Board Members
27
Employees
2,421
Volunteers
300

Preparer

Firm
Cohnreznick Llp
Address
350 CHURCH STREET 12TH FLOOR, HARTFORD, CT 06103
Preparer
Laura Kielczewski
Phone
9592007000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Loss of defeasance of debt -2,294,640. Change in accounting standard 291,782.

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, 2022 or 2021. The college's federal information returns prior to fiscal year 2019 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:

Financial aid to students -63,052,627. Heerf funds student portion 4,464,842. Change in classification -3,815.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid to students 63,052,627. Heerf funds student portion -4,464,842. Change in classification 3,815.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1SLAM COLLABORATIVE INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2FRANK CAPASSO & SONS INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3ELLUCIAN COMPANY LP
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4ADP INC
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IRS990/ContractorCompensationGrp/ServicesDesc1ARCHITECT
IRS990/ContractorCompensationGrp/ServicesDesc2CONSTRUCTION
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IRS990/ContractorCompensationGrp/ServicesDesc4PAYROLL SERVICES
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IRS990/Desc0THE COLLEGE OFFERS A RANGE OF UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS IN THE FIELDS OF HEALTH SCIENCES, HUMAN & SOCIAL SERVICES, SPORT MANAGEMENT & MOVEMENT STUDIES, EDUCATION, BUSINESS, AND THE ARTS & SCIENCES. IT ALSO OFFERS DOCTORAL PROGRAMS IN PHYSICAL EDUCATION, PHYSICAL THERAPY, EDUCATIONAL LEADERSHIP, EXERCISE PHYSIOLOGY AND COUNSELING PSYCHOLOGY.
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