Civic Intelligence

Massachusetts Bay Community College Foundation

990 • Fiscal year 2019 • EIN 22-2581930

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 09, 2020

Organization ProfileWWW.MASSBAY.EDU
50 Oakland StreetWellesley Hills, MA 02481

(781) 239-3000

Siviq Scores

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

Liabilities / Assets

21st percentile

0.01x

Higher debt load relative to assets than 21% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

48th percentile

0.15x

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

22nd percentile

-7.6%

Higher net margin than 22% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

50th percentile

3.0%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

19th percentile

-12%

Faster revenue growth than 19% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$5,975,805

Up $174,281 (+3.0%) from 2018

Net Assets

Up

$5,889,305

Up $87,781 (+1.5%) from 2018

Liabilities

Up

$86,500

Up $86,500 from 2018

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin22nd percentile

Revenue

Down

$589,729

Down $81,376 (-12%) from 2018

Expenses

Up

$634,310

Up $58,498 (+10%) from 2018

Net Income

Down

-$44,581

Down $139,874 (-147%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $3,887,030Liabilities 2011: $7,817Net Assets 2011: $3,879,2132011Assets 2012: $3,889,212Liabilities 2012: $5,228Net Assets 2012: $3,883,9842012Assets 2013: $4,293,741Liabilities 2013: $59,487Net Assets 2013: $4,234,2542013Assets 2014: $4,887,846Liabilities 2014: $9,868Net Assets 2014: $4,877,9782014Assets 2015: $5,032,394Liabilities 2015: $5,468Net Assets 2015: $5,026,9262015Assets 2016: $4,955,207Liabilities 2016: $20,016Net Assets 2016: $4,935,1912016Assets 2017: $5,527,743Liabilities 2017: $500Net Assets 2017: $5,527,2432017Assets 2018: $5,801,524Liabilities 2018: $0Net Assets 2018: $5,801,5242018Assets 2019: $5,975,805Liabilities 2019: $86,500Net Assets 2019: $5,889,3052019Assets 2020: $6,766,347Liabilities 2020: $300,000Net Assets 2020: $6,466,3472020Assets 2021: $7,841,424Liabilities 2021: $183,333Net Assets 2021: $7,658,0912021Assets 2022: $6,708,548Liabilities 2022: $113,580Net Assets 2022: $6,594,9682022Assets 2023: $7,063,730Liabilities 2023: $86,174Net Assets 2023: $6,977,5562023Assets 2024: $6,952,962Liabilities 2024: $52,053Net Assets 2024: $6,900,9092024

Highlighted filing

2019

Assets$5,975,805
Liabilities$86,500
Net Assets$5,889,305
Open 2019 Filing

Operations Trend

Revenue Growth19th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $306,1372011Expenses 2012: $268,6562012Expenses 2013: $388,0692013Revenue 2014: $427,293Expenses 2014: $359,721Net Income 2014: $67,5722014Revenue 2015: $436,677Expenses 2015: $361,904Net Income 2015: $74,7732015Revenue 2016: $331,730Expenses 2016: $335,215Net Income 2016: -$3,4852016Revenue 2017: $464,990Expenses 2017: $383,962Net Income 2017: $81,0282017Revenue 2018: $671,105Expenses 2018: $575,812Net Income 2018: $95,2932018Revenue 2019: $589,729Expenses 2019: $634,310Net Income 2019: -$44,5812019Revenue 2020: $1,601,262Expenses 2020: $945,800Net Income 2020: $655,4622020Revenue 2021: $923,254Expenses 2021: $803,440Net Income 2021: $119,8142021Revenue 2022: $1,230,055Expenses 2022: $1,246,423Net Income 2022: -$16,3682022Revenue 2023: $2,585,895Expenses 2023: $2,469,831Net Income 2023: $116,0642023Revenue 2024: $1,449,428Expenses 2024: $2,119,026Net Income 2024: -$669,5982024

Highlighted filing

2019

Revenue$589,729
Expenses$634,310
Net Income-$44,581
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 9, 2020
Return Version
2018v3.1
Gross Receipts
$1,082,537
Mission and Program Overview

Mission

The foundation board enhances the vitality of the college by promoting investment from external sources, growing the endowment, awarding scholarships, and creating partnerships for learning. In so doing, the foundation seeks to be a catalyst for transforming the college by supporting educational excellence and achievement.

To provide scholarships and college fundraising

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,552,763$5,474,273▼ $78,490
Cash and Non-Interest-Bearing Accounts$248,761$458,532▲ $209,771
Accounts Receivable-$43,000-
Total Assets$5,801,524$5,975,805▲ $174,281
Liabilities
Other Liabilities$0$86,500▲ $86,500
Total Liabilities$0$86,500▲ $86,500
Net Assets / Fund Balance
Unrestricted Net Assets$2,455,738$2,226,631▼ $229,107
Temporarily Rstr Net Assets$1,787,214$2,104,102▲ $316,888
Permanently Rstr Net Assets$1,558,572$1,558,572→ $0
Total Net Assets Fund Balance$5,801,524$5,889,305▲ $87,781
Total Liabilities and Net Assets / Fund Balance$5,801,524$5,975,805▲ $174,281

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,482,046--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$3,097,025-▲ $216,881$-64,141$3,249,765
2017$3,398,803$142,218▲ $242,169$43,942$3,097,025
2016$2,877,242$138,729▲ $389,782$6,950$3,398,803
2015$4,631,437$35,034▲ $30,734$1,819,963$2,877,242
2014$4,841,652$325,093▲ $226,841$172,129$4,982,922
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
James LehanDirector & Chair
Stephen T HibbardDirector & Vice Chair
James J MckenzieDirector
Joseph AsayaDirector
Laurie CarlsonDirector
Robert DawsonDirector
Thomas M BrittDirector
Thomas W CleverdonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$333,467
Program Service Revenue
$0
Investment Income
$256,262
Other Revenue
$0
All Other Contributions
$333,467
Change in Net Assets
$-44,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$572,455
Revenue Not Reported on Financial Statements
$17,274
Revenue Not Reported on Form 990
$217,572
Total Revenue per Audited Statements
$790,027
Total Revenue per Form 990
$589,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$389,165
Grants and Similar Amounts Paid$245,145
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$245,145--$245,145
Fees for Service Investment Mgmnt Fees-$17,274-$17,274
Fees for Services Accounting-$11,603-$11,603
Travel-$3,790-$3,790
Office Expenses-$3,337-$3,337
Other Expenses$336,681$1,432-$1,432
Conferences and Meetings-$615-$615
Insurance-$500-$500
Fees for Services Legal-$145-$145
Total Functional Expenses$581,826$52,484$0$634,310

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$702,246
Total Expenses per Form 990$634,310
Expenses per Audited Statements$617,036
Expenses Not Reported on Form 990$85,210
Expenses Not Reported on Financial Statements$17,274
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$86,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“The by-laws of the organization state that the secretary of the organization shall be the president of the massachusetts bay community college.”

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

“The form 990 will be reviewed by the board of trustees or will be delegated to a sub-committee where a member of the finance and audit committee will review the return for completeness and accuracy. Once the form 990 has been approved by the board of trustees or a member of the finance and audit committee, the form 990 then can be filed with the internal revenue service and the massachusetts attorney general's office.”

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

“The foundation conducts periodic reviews to ensure that the conflict of interest policy is being adhered to.these reviews address whether compensation arrangements and benefits are reasonable and are the results of arm's length bargaining and whether partnership and joint venture arrangements and arrangements with management's service organizations and with the college conform to written policies, are properly recorded, reflect reasonable payments for goods and services, further the foundation's charitable purposes, and do not result in impermissible private benefit. If the foundation deems it necessary, they may also use outside experts to perform these reviews.”

Form 990, Part VI, Section C, Line 19

“The foundation makes all of its governing documents, including a conflict of interest policy and financial statements available to the public upon request. These documents can be requested via the office of administration and finance.”

Form 990, Part VII, Section A

“Massachusetts bay community college foundation has no employees. The foundation instead uses employees of massachusetts bay community college, a related organization. A portion of the salary for the bookkeeper was assumed by the foundation.”

Filing and Contact Details

Filer

Filer Name
Massachusetts Bay Community College
EIN
22-2581930
Phone
7812393000
Address
50 OAKLAND STREET, WELLESLEY HILLS, MA 02481

Signing Officer

Name
James Lehan
Title
Director & Chair
Phone
7812393000
Signed
2020-01-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Lehan
Formed
1984
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
70

Preparer

Firm
O'CONNOR & DREW PC
Address
25 BRAINTREE HILL OFC PK SUITE 102, BRAINTREE, MA 02184
Preparer
David Dilulis
Phone
6174711120
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“Finance and audit committee the organization has a finance and audit committee whose purpose is the oversight and review of the audited financial statements and selection of an independent accountant. The process has not been changed from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“The intended use of the foundation's endowment funds are to support the foundation's programs including, but not limited to, providing scholarships to the students of massachusetts bay community college.”

PART X, LINE 2:

“Massachusetts bay community college foundation, inc. Is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and therefore has made no provision for federal income taxes in the accompanying financial statements. Accounting principles generally accepted in the united states of america require an entity to assess the probability that a tax position has a "more likely than not" ("mltn") sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances the statute of limitations may remain open indefinitely. As a not-for-profit entity exempt from income taxes, the foundation may, however, be subject to tax on unrelated business income.”

Raw XML AppendixShowing 400 of 481 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/MissionDesc0THE FOUNDATION BOARD ENHANCES THE VITALITY OF THE COLLEGE BY PROMOTING INVESTMENT FROM EXTERNAL SOURCES, GROWING THE ENDOWMENT, AWARDING SCHOLARSHIPS, AND CREATING PARTNERSHIPS FOR LEARNING. IN SO DOING, THE FOUNDATION SEEKS TO BE A CATALYST FOR TRANSFORMING THE COLLEGE BY SUPPORTING EDUCATIONAL EXCELLENCE AND ACHIEVEMENT.
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0333467
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0374214
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0333698
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0169053
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0260903
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01471335
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt064190
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt064190
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0129955
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt097392
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0131235
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt080068
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt069433
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0508083
IRS990ScheduleA/PublicSupportCY170Pct00.75140
IRS990ScheduleA/PublicSupportPY170Pct00.76710
IRS990ScheduleA/PublicSupportTotal170Amt01535525
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0333467
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0374214
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0333698
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0169053
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0325093
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01535525
IRS990ScheduleA/TotalSupportAmt02043608
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt03097025
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt03249765
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0216881
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0-64141
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03398803
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0142218
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt03097025
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0642223
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0242169
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt043942
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02877242
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0138729
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03398803
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0389782
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt06950
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt04631437
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt035034
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02877242
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt030734
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01819963
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt04841652
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0325093
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt04982922
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0238535
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0226841
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0172129
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt085210
IRS990ScheduleD/DonatedServicesUseFcltsAmt085210
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt085210
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt017274
IRS990ScheduleD/ExpensesSubtotalAmt0617036
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt017274
IRS990ScheduleD/InvestmentExpensesNotIncldAmt017274
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0132362
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt086500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03992227
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11482046
IRS990ScheduleD/OtherSecuritiesGrp/Desc0EQUITY FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1BOND FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.43000
IRS990ScheduleD/RevenueNotReportedAmt0217572
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt017274
IRS990ScheduleD/RevenueSubtotalAmt0572455
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS ARE TO SUPPORT THE FOUNDATION'S PROGRAMS INCLUDING, BUT NOT LIMITED TO, PROVIDING SCHOLARSHIPS TO THE STUDENTS OF MASSACHUSETTS BAY COMMUNITY COLLEGE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MASSACHUSETTS BAY COMMUNITY COLLEGE FOUNDATION, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" ("MLTN") SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES, THE FOUNDATION MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.57000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt05474273
IRS990ScheduleD/TotalExpensesPerForm990Amt0634310
IRS990ScheduleD/TotalLiabilityAmt086500
IRS990ScheduleD/TotalRevenuePerForm990Amt0589729
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0790027
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0702246
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0245145
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0275
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANT FUNDS RECEIVED BY THE FOUNDATION ARE ACCOMPANIED BY A MEMORANDUM OF UNDERSTANDING, AGREEMENT, OR GRANT AWARD LETTER. IF THIS DOCUMENTATION IS NOT RECEIVED WITH THE CHECK, DOCUMENTATION OF THE UNDERSTANDING IS PREPARED AND AGREED TO BY BOTH PARTIES TO COMPILE A CLEAR UNDERSTANDING OF THE REQUIREMENTS OF THE GRANT. ALL FOUNDATION GRANTS ARE MANAGED THROUGH THE NORMAL ACCOUNTING PROCESSES AND PROCEDURES OF THE COLLEGE. REPORTING AND MONITORING OF GRANT OUTCOMES IS THE RESPONSIBILITY OF THE MASSACHUSETTS BAY COMMUNITY COLLEGE GRANTS OFFICE, FISCAL OFFICE, AND THE GRANT MANAGER, OR PRINCIPAL INVESTIGATOR ASSIGNED TO THE GRANT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BY-LAWS OF THE ORGANIZATION STATE THAT THE SECRETARY OF THE ORGANIZATION SHALL BE THE PRESIDENT OF THE MASSACHUSETTS BAY COMMUNITY COLLEGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE REVIEWED BY THE BOARD OF TRUSTEES OR WILL BE DELEGATED TO A SUB-COMMITTEE WHERE A MEMBER OF THE FINANCE AND AUDIT COMMITTEE WILL REVIEW THE RETURN FOR COMPLETENESS AND ACCURACY. ONCE THE FORM 990 HAS BEEN APPROVED BY THE BOARD OF TRUSTEES OR A MEMBER OF THE FINANCE AND AUDIT COMMITTEE, THE FORM 990 THEN CAN BE FILED WITH THE INTERNAL REVENUE SERVICE AND THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION CONDUCTS PERIODIC REVIEWS TO ENSURE THAT THE CONFLICT OF INTEREST POLICY IS BEING ADHERED TO.THESE REVIEWS ADDRESS WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULTS OF ARM'S LENGTH BARGAINING AND WHETHER PARTNERSHIP AND JOINT VENTURE ARRANGEMENTS AND ARRANGEMENTS WITH MANAGEMENT'S SERVICE ORGANIZATIONS AND WITH THE COLLEGE CONFORM TO WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE PAYMENTS FOR GOODS AND SERVICES, FURTHER THE FOUNDATION'S CHARITABLE PURPOSES, AND DO NOT RESULT IN IMPERMISSIBLE PRIVATE BENEFIT. IF THE FOUNDATION DEEMS IT NECESSARY, THEY MAY ALSO USE OUTSIDE EXPERTS TO PERFORM THESE REVIEWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION MAKES ALL OF ITS GOVERNING DOCUMENTS, INCLUDING A CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THESE DOCUMENTS CAN BE REQUESTED VIA THE OFFICE OF ADMINISTRATION AND FINANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MASSACHUSETTS BAY COMMUNITY COLLEGE FOUNDATION HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF MASSACHUSETTS BAY COMMUNITY COLLEGE, A RELATED ORGANIZATION. A PORTION OF THE SALARY FOR THE BOOKKEEPER WAS ASSUMED BY THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCE AND AUDIT COMMITTEE THE ORGANIZATION HAS A FINANCE AND AUDIT COMMITTEE WHOSE PURPOSE IS THE OVERSIGHT AND REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT BEEN CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII, SECTION A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MASSACHUSETTS BAY COMMUNITY COLLEGE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0SEC 115
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HIGHER EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt050 OAKLAND STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WELLESLEY HILLS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002481
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0245145
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt185210
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MASSACHUSETTS BAY COMMUNITY COLLEGE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MASSACHUSETTS BAY COMMUNITY COLLEGE
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01787214
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02104102
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,975,805
Liabilities
$86,500
Net assets
$5,889,305
Revenue
$589,729
Expenses
$634,310
Net income
-$44,581
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.95$0.05$6.90$1.45$2.12$0.67
2023Detailed filing. Detailed filing data is available for this year.$7.06$0.09$6.98$2.59$2.47$0.12
2022Detailed filing. Detailed filing data is available for this year.$6.71$0.11$6.59$1.23$1.25$0.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.84$0.18$7.66$0.92$0.80$0.12
2020Detailed filing. Detailed filing data is available for this year.$6.77$0.30$6.47$1.60$0.95$0.66
2019Detailed filing. Detailed filing data is available for this year.$5.98$0.09$5.89$0.59$0.63$0.04
2018Detailed filing. Detailed filing data is available for this year.$5.80$0.00$5.80$0.67$0.58$0.10
2017Detailed filing. Detailed filing data is available for this year.$5.53$0.00$5.53$0.46$0.38$0.08
2016Detailed filing. Detailed filing data is available for this year.$4.96$0.02$4.94$0.33$0.34$0.00
2015Detailed filing. Detailed filing data is available for this year.$5.03$0.01$5.03$0.44$0.36$0.07
2014Detailed filing. Detailed filing data is available for this year.$4.89$0.01$4.88$0.43$0.36$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$0.06$4.23$0.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.89$0.01$3.88$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.89$0.01$3.88$0.31