Cambridge College Inc in Cambridge, Massachusetts (MA)

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Cambridge College Inc
Employer Identification Number (EIN)510163080
Name of OrganizationCambridge College Inc
Address1000 Mass Ave, Cambridge, MA 02138-5316
ActivitiesSchool, college, trade school, etc.
SubsectionEducational Organization
Ruling Date09/1975
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period08/2012
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$32,165,229
Amount of Income$41,929,765
Form 990 Revenue Amount$36,337,130
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2012: $41,929,765
This organization: 

 $41,929,765
Other organizations performing similar types of work: 

 $62,051,450

Assets in 2012: $32,165,229
This organization: 

 $32,165,229
Other organizations performing similar types of work: 

 $106,023,627

Expenses in 2002: $30,946,595
This organization: 

 $30,946,595
Other organizations performing similar types of work: 

 $41,301,867

Income to expenses ratio in 2002: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 49.3%
This organization: 

 49.3%
Other organizations performing similar types of work: 

 83.3%

Number of employees in 2002: 373
Cambridge College Inc: 

 373
Other organizations performing similar types of work: 

 560

Employees paid over $50,000 in 2002: 19.6%
This organization: 

 19.6%
Other organizations performing similar types of work: 

 15.6%

Grants share in income in 2002: 7.4%
This organization: 

 7.4%
Other organizations performing similar types of work: 

 15.1%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$32,041,693$30,925,386$30,269,610
Contributions, gifts, grants, and similar amounts received$9,829,481$3,518,662$2,254,941
Contributions to donor advised funds
Direct public support$9,829,481$3,518,662$2,254,941
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$21,040,350$26,240,617$26,914,908
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$72,177$59,803$51,664
Dividends and interest from securities$0$0$0
Net rental income or (loss)$824,305$945,560$971,104
Gross rents$1,897,457$1,874,563$1,939,485
Less: rental expenses$1,073,152$929,003$968,381
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$124,068$-108,099$5,857
Gross amount from sales of assets other than inventory$124,068$803,710$699,170
Less: cost or other basis and sales expenses$0$911,809$693,313
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$151,312$268,843$71,136
Total expenses$24,471,163$30,185,728$30,946,595
Program services$18,341,836$23,372,145$15,264,266
Management and general$5,048,539$6,340,534$15,110,655
Fundraising$1,080,788$473,049$571,674
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$17,882,950$18,501,886$17,873,750
Excess or (deficit) for the year$7,570,530$739,658$-676,985
Net assets or fund balances at beginning of year$10,702,351$17,882,950$18,501,886
Other changes in net assets or fund balances$-389,931$-120,722$48,849
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$30,946,595$15,264,266$15,110,655$571,674
Grants paid from donor advised funds
Other grants and allocations$230,588
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,701,010$668,126$1,032,884$0
Compensation of former officers, directors, key employees, etc.
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)
Salaries and wages of employees not included above$11,848,671$7,993,280$3,510,738$344,653
Pension plan contributions not included above$827,173$475,862$327,154$24,157
Employee benefits not included above$1,000,570$250,566$701,480$48,524
Payroll taxes$1,068,789$698,899$342,019$27,871
Professional fundraising fees$0$0$0$0
Accounting fees$67,500$0$67,500$0
Legal fees$128,803$0$128,803$0
Supplies$273,979$139,095$126,229$8,655
Telephone$733,578$81,251$651,813$514
Postage and shipping$983,545$68,330$900,870$14,345
Occupancy$3,815,472$3,246,959$565,113$3,400
Equipment rental and maintenance$546,458$335,090$210,872$496
Printing and publications$1,389,997$242,035$1,110,235$37,727
Travel$476,217$287,691$186,455$2,071
Conferences, conventions, and meetings$333,944$87,701$236,862$9,381
Interest$83,185$45,171$38,014$0
Depreciation, depletion, etc.$1,207,243$0$1,207,243$0
Other expenses not covered above$4,229,873$413,622$3,766,371$49,880
Balance Sheets
200020012002
Total assets$30,962,002$34,765,783$31,773,592
Cash - non-interest-bearing$0$0$26,616
Savings and temporary cash investments$3,365,732$7,188,732$1,967,287
Accounts receivable less allowance for doubtful accounts$6,811,105$7,544,449$9,496,814
Pledges receivable less allowance for doubtful accounts$8,012,498$6,924,031$6,350,288
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$80,000
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$1,281,060$1,617,177$917,095
Investments - publicly-traded securities
Investments - other securities$1,675,856$1,468,591$2,565,730
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$9,591,100$9,781,047$10,040,082
Other assets, including program-related investments$224,651$241,756$329,680
Total liabilities$13,079,052$16,263,897$13,899,842
Accounts payable and accrued expenses$1,066,773$1,716,928$1,832,094
Grants payable$0$0$0
Deferred revenue$8,247,864$10,329,467$10,543,011
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$1,382,196$349,966$244,101
Other liabilities$2,382,219$3,867,536$1,280,636
Total liabilities and net assets/fund balances$30,962,002$34,765,783$31,773,592
Total net assets or fund balances$17,882,950$18,501,886$17,873,750
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$32,041,693$30,925,386$30,269,610
Total revenue, gains, and other support per audited financial statements$32,380,488$31,130,331$31,056,252
Other expenses$683,221$808,281$1,017,230
Net unrealized gains on investments$0$-120,722$48,849
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$683,221$929,003$968,381
Other revenue$344,426$603,336$230,588
Investment expenses$0$0$0
Other$344,426$603,336$230,588
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$24,471,163$30,185,728$30,946,595
Total expenses and losses per audited financial statements$25,199,889$30,511,395$31,684,388
Other revenue$1,073,152$929,003$968,381
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$1,073,152$929,003$968,381
Other expenses$344,426$603,336$230,588
Investment expenses$0$0$0
Other$344,426$603,336$230,588
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
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?
Does the organization have a written conflict of interest policy?
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?No
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?No
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006373
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,028,625$26,986,044
Program service revenue
Program service revenue 1000000$000$0$26,914,908
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
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)$51,664$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income from mortgaged real property owned by: a school described in section 170(b)(1)(A)(ii); a section 509(a)(3) affiliated support organization of such a school; a section 501(c)(25) organization, or by a partnership in which any of the above organizations owns an interest if the requirements of section 514(c)(9)(B)(vi) are met (section 514(c)(9))$17,146$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$953,958$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))$5,857$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$71,136
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$111,633$25,404$2,600
$98,296$23,320$2,600
$96,855$18,322$1,850
$95,000$27,583$1,850
$94,496$20,241$2,600
Total number of other employees paid over $50,00068
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
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?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter 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
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
199920002001
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$38,933,359
Contributions, Gifts, Grants and Other Similar Amounts$342,081
Program Service Revenue$37,536,994
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$272,806
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$601,843
Gross rents (Real / Personal)$1,734,497 / $0
Less: rental expenses (Real / Personal)$1,132,654 / $0
Rental income or (loss) (Real / Personal)$601,843 / $0
Net gain from sales of assets other than inventory$19,110
Gross amount from sales of assets other than inventory (Securities / Other)$2,718,146 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,699,036 / $0
Gain or (loss) (Securities / Other)$19,110 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$160,525
Statement of Functional Expenses (for 2011)
Total functional expenses$38,312,779
Compensation of current officers, directors, trustees, and key employees$1,307,444
Other salaries and wages$18,471,207
Payroll taxes$1,365,458
Professional fundraising services$0
Other$17,168,670
Balance Sheet (for 2011)
Total assets$32,736,407
Total liabilities$4,669,276
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$4,669,276
Total net assets or fund balances$28,067,131
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$31,625$0$31,625
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
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$31,625$0$31,625
Deductions Not Taken Elsewhere (for 2008)
Total deductions$10,195
Compensation of officers, directors, and trustees$0
Salaries and wages$386
Repairs and maintenance$4,236
Bad debts$0
Interest$0
Taxes and licenses$1,287
Charitable contributions$0
Depreciation$3,609
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$152
Excess exempt expenses$0
Excess readership costs$0
Other deductions$525
Unrelated business taxable income$20,430
Unrelated business taxable income before net operating loss deduction$21,430
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$21,430
Specific deduction$1,000
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Number of organizations performing similar types of work
Alabama8
Arkansas8
California17
Connecticut5
District of Columbia1
Florida12
Georgia13
Iowa16
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania37
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total443

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