Endicott College in Beverly, Massachusetts (MA)

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Endicott College
Employer Identification Number (EIN)042103567
Name of OrganizationEndicott College
In Care of NameLynne Otoole Executive Vp
Address376 Hale St, Beverly, MA 01915-2096
ActivitiesSchool, college, trade school, etc., Other social activities, Other youth organization or activities
SubsectionEducational Organization
Ruling Date03/1942
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$215,540,763
Amount of Income$119,004,816
Form 990 Revenue Amount$114,978,001
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: University or Technological Institute


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Amount of income in 2013: $119,004,816
Endicott College: 

 $119,004,816
Other organizations performing similar types of work: 

 $136,725,850

Assets in 2013: $215,540,763
This organization: 

 $215,540,763
Other organizations performing similar types of work: 

 $239,530,668

Expenses in 2013: $97,007,660
Endicott College: 

 $97,007,660
Other organizations performing similar types of work: 

 $107,808,210

Income to expenses ratio in 2013: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 87.0%
Endicott College: 

 87.0%
Other organizations performing similar types of work: 

 85.4%

Number of employees in 2013: 1,748
This organization: 

 1,748
Other organizations performing similar types of work: 

 1,977

Employees paid over $100,000 in 2013: 2.2%
This organization: 

 2.2%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 4.3%
This organization: 

 4.3%
Other organizations performing similar types of work: 

 9.1%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?YesYes
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoYes
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?YesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096191222
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1,6841,748
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?YesYes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,918,296$2,006,994
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$449,956$412,311
Total number of individuals who received more than $100,000 of reportable compensation from the organization3535
Total number of independent contractors who received more than $100,000 of compensation from the organization33
Statement of Revenue
201120122013
Total revenue$92,316,052$107,777,810$114,978,001
Contributions, Gifts, Grants and Other Similar Amounts$1,801,811$3,750,124$4,888,247
Program Service Revenue$88,617,157$101,504,006$107,576,942
Educational Support Services$69,707,970$74,742,992
721000$25,005,879$25,738,752
Educational Support Services$6,294,095$6,555,882
900099$496,062$539,316
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,015,400$935,604$1,188,735
Income from investment of tax-exempt bond proceeds$5,973$386$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$232,646$972,234$742,476
Gross amount from sales of assets other than inventory (Securities / Other)$18,786,211 / $0$8,447,263 / $0$4,728,397 / $0
Less: cost or other basis and sales expenses (Securities / Other)$18,553,565 / $0$7,022,304 / $452,725$3,985,721 / $0
Gain or (loss) (Securities / Other)$232,646 / $0$1,424,959 / $-452,725$742,676 / $0
Net income/loss from fundraising events$0$0$0
Gross income from fundraising events$0$81,100$41,094
Less: direct expenses$0$81,100$41,094
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$643,065$615,456$581,601
Theater Companies and Dinner Theaters $69,464$68,736
900099$64,027$75,048
900099$481,965$437,817
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$82,438,696$91,428,507$97,007,660
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$18,732,647$20,942,734
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$345,983$418,024
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$1,139,558$1,208,035$1,467,497
Compensation not included above, to disqualified persons$169,188$221,785
Other salaries and wages$27,816,547$30,903,278$32,948,424
Pension plan accruals and contributions$1,897,726$1,913,522
Other employee benefits$5,445,588$5,609,937
Payroll taxes$1,972,106$2,162,252$2,315,204
Fees for services (non-employees)
Management$0$0
Legal$186,871$102,564
Accounting$160,606$98,025
Lobbying$144,000$96,000
Professional fundraising services$0$0$0
Investment management fees$67,239$76,017
Other$5,076,426$5,658,054
Advertising and promotion$497,756$503,135
Office expenses$1,788,142$1,776,976
Information technology$1,509,016$1,796,986
Royalties$0$0
Occupancy$3,508,737$3,499,781
Travel$847,227$947,869
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$2,524,455$2,426,788
Payments to affiliates$0$0
Depreciation, depletion, and amortization$4,502,536$4,887,361
Insurance$666,378$692,224
Other expenses$5,182,758$5,242,408
Other expenses$2,615,637$2,166,958
Other expenses$630,867$680,057
Other expenses$655,159$519,330
Balance Sheet
201120122013
Total assets$184,992,253$197,636,581$215,540,763
Cash - non-interest-bearing$403,739$175,359
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$2,047,083$3,506,041
Accounts receivable, net$2,521,759$2,328,858
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$1,598,522$793,860
Land, buildings, and equipment: cost or other basis$146,117,061$156,609,613
Investments - publicly traded securities$40,795,037$46,720,877
Investments - other securities$4,153,380$4,863,087
Investments - program-related$0$0
Intangible assets$0$0
Other assets$0$543,068
Total liabilities$74,655,359$77,960,925$72,379,215
Accounts payable and accrued expenses$8,025,856$5,447,356
Grants payable$0$0
Deferred revenue$6,475,136$7,376,154
Tax-exempt bond liabilities$49,968,583$48,825,908$35,084,607
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$5,233,733$2,877,361$16,122,171
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$11,756,664$8,348,927
Total net assets or fund balances$110,336,894$119,675,656$143,161,548
Unrestricted net assets$113,212,753$133,746,022
Temporarily restricted net assets$2,402,092$4,277,478
Permanently restricted net assets$4,060,811$5,138,048
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$30,772,941$36,380,056$33,194,335$45,089,190$49,899,144$56,823,637$63,485,363$70,595,385
Contributions, gifts, grants, and similar amounts received$5,014,367$6,820,160$1,849,114$1,222,820$1,644,780$2,482,184$2,693,938$2,833,936
Contributions to donor advised funds$0$0
Direct public support$4,620,680$6,402,097$1,460,074$836,205$1,282,855$2,107,164$1,951,398$2,432,947
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$393,687$418,063$389,040$386,615$361,925$375,020$742,540$400,989
Program service revenue including government fees and contracts$25,218,345$29,463,295$31,460,615$42,948,431$47,340,105$53,212,345$59,304,443$66,358,699
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$54,823$202,109$102,168$10,271$146,347$110,380$95,435$142,670
Dividends and interest from securities$259,837$251,159$178,519$269,307$356,606$348,326$493,363$496,367
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$112,140$-522,532$-533,391$182,103$27,830$363,381$543,833$-6,123
Gross amount from sales of assets other than inventory$5,014,099$3,346,944$2,295,432$2,749,665$20,062,496$8,345,678$11,056,091$6,110,590
Less: cost or other basis and sales expenses$4,901,959$3,869,476$2,828,823$2,567,562$20,034,666$7,982,297$10,512,258$6,116,713
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$113,429$165,865$137,310$456,258$383,476$307,021$354,351$769,836
Total expenses$23,637,801$26,761,650$30,029,343$41,654,776$44,200,989$48,448,156$55,293,029$61,371,688
Program services$19,752,281$22,189,627$24,533,719$35,018,435$37,268,939$41,264,116$47,547,864$53,407,875
Management and general$3,390,142$4,033,481$4,807,058$5,828,655$6,172,369$6,387,606$6,924,065$7,119,304
Fundraising$495,378$538,542$688,566$807,686$759,681$796,434$821,100$844,509
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$31,908,167$40,339,964$43,401,264$47,344,578$52,031,248$63,212,126$73,361,918$78,281,527
Excess or (deficit) for the year$7,135,140$9,618,406$3,164,992$3,434,414$5,698,155$8,375,481$8,192,334$9,223,697
Net assets or fund balances at beginning of year$26,030,357$31,908,167$40,339,964$43,401,264$47,344,578$52,031,248$63,212,126$73,361,918
Other changes in net assets or fund balances$-1,257,330$-1,186,609$-103,692$508,900$-1,011,485$2,805,397$1,957,458$-4,304,088
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$61,371,688$53,407,875$7,119,304$844,509
Grants paid from donor advised funds$0
Other grants and allocations$9,871,113
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$586,717$0$586,717$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$22,296,661$19,079,480$2,727,853$489,328
Pension plan contributions not included above$1,227,401$1,020,152$192,850$14,399
Employee benefits not included above$3,590,659$3,030,553$514,776$45,330
Payroll taxes$1,405,521$1,168,196$220,837$16,488
Professional fundraising fees$0$0$0$0
Accounting fees$81,500$0$81,500$0
Legal fees$96,845$0$96,181$664
Supplies$854,414$732,197$113,657$8,560
Telephone$312,190$149,803$153,163$9,224
Postage and shipping$187,260$113,817$50,090$23,353
Occupancy$3,412,720$3,272,987$139,733$0
Equipment rental and maintenance$165,488$158,963$6,485$40
Printing and publications$573,195$397,494$132,335$43,366
Travel$531,104$421,706$90,592$18,806
Conferences, conventions, and meetings$0$0$0$0
Interest$2,121,544$2,035,240$80,920$5,384
Depreciation, depletion, etc.$3,159,953$3,030,693$121,240$8,020
Other expenses not covered above$10,897,403$8,925,481$1,810,375$161,547
Balance Sheets
20002001200220032004200520062007
Total assets$62,709,348$71,809,727$77,603,144$93,520,739$98,469,538$109,640,830$124,110,894$144,753,976
Cash - non-interest-bearing$315,523$193,612$580,482$30,398$25,112$15,024$6,660$820,454
Savings and temporary cash investments$0$0$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$1,266,630$1,321,137$1,648,718$1,811,138$1,993,154$1,754,479$1,917,922$2,141,648
Pledges receivable less allowance for doubtful accounts$2,916,306$5,221,727$3,956,283$2,600,827$1,805,355$1,986,020$2,263,927$2,831,189
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$787,907$737,956$860,907$663,825$726,027$867,457$593,558$1,148,584
Investments - publicly-traded securities$0$0
Investments - other securities$9,498,124$9,639,751$10,201,045$12,826,018$14,949,614$17,598,478$23,441,719$25,203,149
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$40,614,514$53,803,570$60,355,709$68,526,334$76,012,435$87,052,520$95,887,108$112,608,952
Other assets, including program-related investments$7,310,344$891,974$0$7,062,199$2,957,841$366,852$0$0
Total liabilities$30,801,181$31,469,763$34,201,880$46,176,161$46,438,290$46,428,704$50,748,976$66,472,449
Accounts payable and accrued expenses$1,681,213$3,410,443$4,440,012$3,476,341$3,523,142$5,127,549$6,135,796$7,293,027
Grants payable$805,216$0$0$0$0$0$0$0
Deferred revenue$3,609,752$2,892,242$4,132,135$4,413,594$5,310,321$4,729,742$4,752,453$4,960,165
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$23,305,000$22,670,000$21,805,000$33,625,000$32,625,000$31,840,000$31,025,000$42,730,000
Mortgages and other notes payable$1,400,000$1,000,000$1,500,000$2,345,000$1,500,000$3,985,041$8,044,616$8,023,918
Other liabilities$0$1,497,078$2,324,733$2,316,226$3,479,827$746,372$791,111$3,465,339
Total liabilities and net assets/fund balances$62,709,348$71,809,727$77,603,144$93,520,739$98,469,538$109,640,830$124,110,894$144,753,976
Total net assets or fund balances$31,908,167$40,339,964$43,401,264$47,344,578$52,031,248$63,212,126$73,361,918$78,281,527
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$30,772,641$36,380,056$33,194,335$45,089,190$49,899,144$56,823,637$63,485,363$70,595,385
Total revenue, gains, and other support per audited financial statements$29,515,611$35,193,447$33,096,643$38,332,235$42,980,854$49,123,182$56,495,689$56,420,184
Other expenses$-1,257,030$-1,186,609$-103,692$992,282$741,785$492,651$2,002,197$-4,304,088
Net unrealized gains on investments$-939,574$-514,853$707,479$973,298$741,785$492,651$2,002,197$-1,629,860
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$-317,456$-671,756$-811,171$18,984$0$0$0$-2,674,228
Other revenue$0$0$0$7,749,237$7,660,075$8,193,106$8,991,871$9,871,113
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$7,749,237$7,660,075$8,193,106$8,991,871$9,871,113
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$23,637,801$26,761,650$30,029,343$41,654,776$44,200,989$48,448,156$55,293,029$61,371,688
Total expenses and losses per audited financial statements$23,637,801$26,761,650$30,029,343$34,388,921$38,294,184$37,521,596$46,256,419$51,500,575
Other revenue$0$0$0$0$1,753,270$-2,733,454$-44,739$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$1,753,270$-2,733,454$-44,739$0
Other expenses$0$0$0$7,265,855$7,660,075$8,193,106$8,991,871$9,871,113
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$7,265,855$7,660,075$8,193,106$8,991,871$9,871,113
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$306,865$53,278$1,140
40$187,500$37,934$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings27
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006482
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$3,371,331$986,982$63,403,136
Program service revenue
Program service revenue 1000000$000$0$45,961,957
Program service revenue 2000000$000$0$16,202,976
Program service revenue 3Accomodation$3,371,331Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$354,068$0
Program service revenue 4000000$000$0$468,367
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$142,670$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$496,367$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-6,123$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$769,836
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$193,248$39,011$1,552
$167,067$36,190$977
$141,426$20,494$0
$128,832$21,940$0
$136,809$11,262$0
Total number of other employees paid over $50,000164
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$111,000
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$3,371,331$0$3,371,331
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$3,371,331$0$3,371,331
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$4,268,338
Compensation of officers, directors, and trustees$32,297
Salaries and wages$255,411
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$295,289
Depletion$0
Contributions to deferred compensation plans$19,713
Employee benefit programs$60,150
Excess exempt expenses$0
Excess readership costs$0
Other deductions$3,605,478
Unrelated business taxable income$-897,007
Unrelated business taxable income before net operating loss deduction$-897,007
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-897,007
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Trustees Of Tufts College, Eta Kappa Nu161 College Ave 101 Halligan Hall, Medford, MA 02155MA1932-09$1,880,302,730
2Boston College Trustees140 Commonwealth Hrsc 129 Lake, Chestnut Hill, MA 02467MA1982-12$1,686,272,257
3Massachusetts Institute Of Technology77 Massachusetts Avenue Ne 49-3131, Cambridge, MA 02139-4301MA1926-10$844,590,000
4Brandeis University415 South St Msc 110, Waltham, MA 02453-2728MA1941-09$635,577,766
5Suffolk University8 Ashburton Pl, Boston, MA 02108-2701MA1937-11$318,440,749
6Worcester Polytechnic Institute100 Institute Rd, Worcester, MA 01609-2247MA1934-08$263,984,562
7Clark University20 Downing St, Worcester, MA 01610-1434MA1937-12$226,776,633
8Springfield College263 Alden St, Springfield, MA 01109-3707MA1954-12$175,500,500
9Wentworth Institute Of Technology550 Huntington Ave, Boston, MA 02115-5901MA1929-11$154,680,919
10Simmons College300 The Fenway, Boston, MA 02115MA1938-04$151,581,997
11William Carey University498 Tuscan Ave Box 2, Hattiesburg, MS 39401-5461MS1973-03$82,693,678
12Mount Saint Vincent University166 Bedford Highway, Halifaxinternational1981-08$48,966,246
13Emory, Group Return1440 Clifton Rd Ne Whscab Ste 309, Atlanta, GA 30322-0001GA2011-06$1,342,412,951
14University Of Science & PhilosophyPO BOX 520, Waynesboro, VA 22980-0384VA1958-12$227,455
15Emory Innovations Inc201 Dowman Dr Ne 101 Admin Bldg, Atlanta, GA 30322-0001GA2011-06$0
16Emorysaint Joseph's Inc1440 Clifton Road Ne Whscab, Atlanta, GA 30322GA2011-06$0
17Great Lakes UniversityPo Box 4347, Auburn Hills, MI 48326MI2007-09$0
18Medical And Technological University Of America Foundation683 Windmill Ct, Fremont, CA 94539CA2007-11$0
19Momentum Leadership School Of Ministry Inc15 Kibbe Road, East Longmeadow, MA 01028MA2009-07$0
20Nelson Mandella Institution For Knowledge Building & Advancement1825 I St Nw Ste 400, Washington, DC 20006-5415DC2007-12$0
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas1
Arizona2
California36
Colorado5
Connecticut9
District of Columbia6
Delaware2
Florida10
Georgia10
Hawaii2
Iowa7
Illinois19
Indiana6
Kansas4
Kentucky4
Louisiana4
Massachusetts19
Maryland7
Maine2
Michigan11
Minnesota5
Missouri9
Mississippi1
North Carolina11
North Dakota1
Nebraska2
New Hampshire3
New Jersey12
New York37
Ohio20
Oklahoma5
Oregon5
Pennsylvania29
Rhode Island3
South Carolina2
Tennessee6
Texas20
Utah1
Virginia11
Vermont3
Washington9
Wisconsin8
West Virginia2
International20
Total396

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