Franklin W Olin College Of Engineering Inc in Needham, Massachusetts (MA)

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Franklin W Olin College Of Engineering Inc
Employer Identification Number (EIN)061519057
Name of OrganizationFranklin W Olin College Of Engineering Inc
In Care of NameF W Olin Foundation Inc
Address1000 Olin Way, Needham, MA 02492-1200
ActivitiesSchool, college, trade school, etc.
SubsectionCharitable Organization
Ruling Date09/1998
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$490,219,363
Amount of Income$427,579,631
Form 990 Revenue Amount$46,139,045
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2011: $427,579,631
This organization: 

 $427,579,631
Other organizations performing similar types of work: 

 $58,786,054

Assets in 2011: $490,219,363
Franklin W Olin College Of Engineering Inc: 

 $490,219,363
Other organizations performing similar types of work: 

 $101,597,511

Expenses in 2007: $48,276,734
This organization: 

 $48,276,734
Other organizations performing similar types of work: 

 $41,301,867

Income to expenses ratio in 2007: 1.0
Franklin W Olin College Of Engineering Inc: 

 1.0
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 86.7%
Franklin W Olin College Of Engineering Inc: 

 86.7%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2007: 114
Franklin W Olin College Of Engineering Inc: 

 114
Other organizations performing similar types of work: 

 559

Employees paid over $50,000 in 2007: 71.9%
Franklin W Olin College Of Engineering Inc: 

 71.9%
Other organizations performing similar types of work: 

 15.5%

Grants share in income in 2007: 21.2%
Franklin W Olin College Of Engineering Inc: 

 21.2%
Other organizations performing similar types of work: 

 15.2%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$33,718,223$59,145,335$266,133,016$10,901,348$53,109,335$78,815,518$33,526,678$48,176,484
Contributions, gifts, grants, and similar amounts received$33,555,835$58,999,553$265,335,936$1,640,659$36,385,415$2,589,646$2,412,865$10,198,309
Contributions to donor advised funds$0$0
Direct public support$33,204,731$58,999,553$265,335,936$190,035$35,076,813$286,696$1,435,226$8,481,413
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$351,104$0$0$1,450,624$1,308,602$2,302,950$977,639$1,716,896
Program service revenue including government fees and contracts$34,680$30,540$484,227$811,061$1,427,080$11,972,633$14,200,566$14,211,819
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$123,542$211,025$90,057
Dividends and interest from securities$60,526$91,727$221,439$7,139,038$7,751,000$8,724,424$10,071,558$8,631,208
Net rental income or (loss)$0$0$0$0$0$59,539$25,766$77,196
Gross rents$0$0$0$0$0$66,608$43,296$114,590
Less: rental expenses$0$0$0$0$0$7,069$17,530$37,394
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$48$1,123,672$7,213,668$54,528,455$5,757,501$14,136,128
Gross amount from sales of assets other than inventory$1,633,125$0$9,660$610,500,189$960,554,158$843,627,377$112,805,305$217,742,894
Less: cost or other basis and sales expenses$1,633,125$0$9,612$609,376,517$953,340,490$789,098,922$107,047,804$203,606,766
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$67,182$23,515$91,366$186,918$332,172$817,279$847,397$831,767
Total expenses$5,846,514$11,701,668$19,619,918$23,789,095$29,413,532$47,232,072$47,556,023$48,276,734
Program services$3,092,506$6,396,083$12,089,746$16,971,517$20,878,220$42,326,580$38,750,343$41,855,797
Management and general$2,752,699$5,305,585$7,530,172$6,523,116$8,124,066$4,534,871$8,263,267$5,887,325
Fundraising$1,309$0$0$294,462$411,246$370,621$542,413$533,612
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$55,298,711$102,742,378$367,671,486$387,766,391$413,599,766$417,793,099$470,008,489$435,961,529
Excess or (deficit) for the year$27,871,709$47,443,667$246,513,098$-12,887,747$23,695,803$31,583,446$-14,029,345$-100,250
Net assets or fund balances at beginning of year$27,427,002$55,298,711$102,742,378$367,671,486$387,766,391$413,599,766$417,793,099$470,008,489
Other changes in net assets or fund balances$0$0$18,416,010$32,982,652$2,137,572$-27,390,113$66,244,735$-33,946,710
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$48,276,734$41,855,797$5,887,325$533,612
Grants paid from donor advised funds$0
Other grants and allocations$10,116,722
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,036,950$290,208$550,551$196,191
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$8,318,713$6,157,390$1,957,339$203,984
Pension plan contributions not included above$701,282$519,079$165,007$17,196
Employee benefits not included above$786,685$582,293$185,102$19,290
Payroll taxes$618,421$429,184$163,764$25,473
Professional fundraising fees$0$0$0$0
Accounting fees$69,452$0$69,452$0
Legal fees$37,602$9,408$28,194$0
Supplies$803,733$533,527$257,997$12,209
Telephone$181,602$12,882$166,886$1,834
Postage and shipping$44,225$33,664$8,812$1,749
Occupancy$1,189,195$1,103,456$84,144$1,595
Equipment rental and maintenance$866,949$806,349$59,473$1,127
Printing and publications$120,284$73,727$41,806$4,751
Travel$829,974$541,058$268,342$20,574
Conferences, conventions, and meetings$56,652$39,951$16,061$640
Interest$9,421,544$8,762,978$646,318$12,248
Depreciation, depletion, etc.$5,746,429$5,344,754$394,205$7,470
Other expenses not covered above$7,330,320$6,499,167$823,872$7,281
Balance Sheets
20002001200220032004200520062007
Total assets$59,979,530$107,437,242$373,373,568$549,385,699$574,903,381$581,051,591$631,764,577$601,604,435
Cash - non-interest-bearing$300$1,294,617$903,625$2,802,944$662,393$679,727$785,300$216,452
Savings and temporary cash investments$4,044,881$3,196,757$3,496,993$131,327$1,378,730$430,298$477,289$468,576
Accounts receivable less allowance for doubtful accounts$151,517$280,857$52,428$1,474,101$845,807$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$216,059,863$81,388,193$5,000,000$5,089,776$5,069,757$189,913
Grants receivable$0$0$0$0$0$70,677$253,127$154,480
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$200,000$599,665$619,812$627,127$616,979$422,904
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$10,148$28,780$461,719$5,792,000$5,684,163$798,290$945,215$1,091,930
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$29,848,645$310,528,873$418,731,994$0$438,396,038$391,962,811
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$432,114,356$44,266,221$77,607,583
Land, buildings, and equipment less accumulated depreciation$55,772,684$102,636,231$122,350,295$129,521,291$138,131,711$134,341,269$129,657,832$124,988,523
Other assets, including program-related investments$0$0$0$17,147,305$3,848,771$6,900,071$11,296,819$4,501,263
Total liabilities$4,680,819$4,694,864$5,702,082$161,619,308$161,303,615$163,258,492$161,756,088$165,642,906
Accounts payable and accrued expenses$4,461,124$4,276,610$5,231,585$3,519,606$3,297,085$4,685,118$3,121,785$4,358,495
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$219,695$418,254$470,497$312,051$170,198$688,360$700,607$612,601
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$157,787,651$157,836,332$93,200,000$93,200,000$64,782,377
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$64,685,014$64,733,696$95,889,433
Total liabilities and net assets/fund balances$59,979,530$107,437,242$373,373,568$549,385,699$574,903,381$581,051,591$631,764,577$601,604,435
Total net assets or fund balances$55,298,711$102,742,378$367,671,486$387,766,391$413,599,766$417,793,099$470,008,489$435,961,529
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$33,718,223$59,145,335$266,133,016$10,901,348$53,109,335$78,815,518$33,526,678$48,176,484
Total revenue, gains, and other support per audited financial statements$33,718,223$59,145,335$284,549,026$43,884,000$55,246,000$39,698,041$88,884,686$37,657,467
Other expenses$0$0$18,416,010$32,982,652$2,137,572$-27,390,113$66,244,735$0
Net unrealized gains on investments$0$0$2,986,505$14,278,334$3,855,245$-25,532,674$58,895,490$0
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$0$0$15,429,505$18,704,318$-1,717,673$-1,857,439$7,349,245$0
Other revenue$0$0$0$0$907$11,727,364$10,886,727$10,519,017
Investment expenses$0$0$0$0$0$2,065,116$449,205$0
Other$0$0$0$0$907$9,662,248$10,437,522$10,519,017
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$5,846,514$11,701,668$19,619,918$23,789,095$29,413,532$47,232,072$47,556,023$48,276,734
Total expenses and losses per audited financial statements$5,846,514$11,701,668$19,619,918$23,789,095$29,413,532$35,504,708$36,669,296$71,703,918
Other revenue$0$0$0$0$0$7,069$17,530$33,983,595
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$23,080,731
Other$0$0$0$0$0$7,069$17,530$10,902,864
Other expenses$0$0$0$0$0$11,734,433$10,904,257$10,556,411
Investment expenses$0$0$0$0$0$2,065,116$449,205$0
Other$0$0$0$0$0$9,669,317$10,455,052$10,556,411
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$353,154$39,228$57,000
40$231,103$26,855$0
40$251,906$37,282$34,500
40$84,163$13,259$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings13
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?Yes
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?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?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, 2006114
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$23,024,497$14,953,678
Program service revenue
Program service revenue 1000000$000$0$13,682,819
Program service revenue 2000000$000$0$529,000
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)$90,057$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)$8,631,208$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$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)$77,196$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))$14,136,128$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$89,908$741,859
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
$238,427$28,503$0
$210,667$32,053$0
$205,020$28,061$0
$184,185$29,946$0
$177,197$19,727$0
Total number of other employees paid over $50,00073
Statements About Activities (for 2007)
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?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
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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$0
Enter 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
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Oberlin College173 West Lorain St Controllers Of, Oberlin, OH 44074OH1948-01$1,076,192,203
2Pomona College550 N College Ave, Claremont, CA 91711-4434CA1954-12$932,814,151
3Amherst College TrusteesPO BOX 5000, Amherst, MA 01002-5000MA1933-08$680,870,731
4Franklin W Olin College Of Engineering Inc1000 Olin Way, Needham, MA 02492-1200MA1998-09$427,579,631
5College Of The Holy Cross1 College St, Worcester, MA 01610-2322MA1969-06$349,683,125
6Berklee College Of Music Inc1140 Boylston St, Boston, MA 02215-3631MA1967-01$285,765,491
7Trustees Of Mount Holyoke College50 College St, South Hadley, MA 01075-1423MA1942-07$278,373,903
8Babson College231 Forest St Room 161, Wellesley, MA 02481-6834MA1923-10$259,469,699
9Williams CollegePO BOX 67, Williamstown, MA 01267-0067MA1934-06$238,865,402
10Wheaton College35 East Main Street, Norton, MA 02766MA1950-05$145,348,696
11Stonehill College Inc320 Washington St, Easton, MA 02357-7800MA1972-02$141,636,627
12Lasell College1844 Commonwealth Ave, Newton, MA 02466-2709MA1928-05$114,588,447
13Curry College1071 Blue Hill Ave, Milton, MA 02186-2302MA1936-09$113,245,560
14Assumption College500 Salisbury Street, Worcester, MA 01609-1265MA1953-07$101,199,733
15Bay Path College588 Longmeadow St, Longmeadow, MA 01106-2212MA1949-08$85,742,962
16Merrimack College315 Turnpike St, North Andover, MA 01845-5806MA1947-03$84,958,253
17Gordon College255 Grapevine Rd, Wenham, MA 01984-1813MA1941-11$84,195,755
18Nichols College Of Business AdministrationPO BOX 5000, Dudley, MA 01571-5000MA1943-01$83,999,860
19Mount Ada College, Delta UpsilonMount Ida College 777 Dedham Street, Newton, MA 02459MA1940-07$64,508,498
20Cambridge College Inc1000 Mass Ave, Cambridge, MA 02138-5316MA1975-09$50,323,707
21Wheelock College200 The Riverway, Boston, MA 02215-4176MA1940-02$49,328,198
22Regis CollegeStudent, Weston, MA 02493MA1995-05$48,722,339
23Anatolia CollegeSuite 1201, Boston, MA 02108MA1946-09$44,566,472
24College Of Our Lady Of The Elms291 Springfield St, Chicopee, MA 01013-2837MA1946-03$32,550,133
25Pine Manor College400 Heath St, Chestnut Hill, MA 02467-2332MA1965-03$26,317,775
26Fisher College118 Beacon St, Boston, MA 02116-1501MA1948-12$23,031,090
27Atlantic Union College, Payroll338 Main Street, South Lancaster, MA 01561MA1947-04$16,471,760
28Hebrew College160 Herrick Rd, Newton Centre, MA 02459-2237MA1946-12$10,791,116
29Laboure College2120 Dorchester Ave, Boston, MA 02124-5617MA1946-03$7,634,378
30Wellesley College106 Central Street, Wellesley, MA 02481-8203MA1946-04$2,630
Number of organizations performing similar types of work
Alabama8
Arkansas8
California17
Connecticut5
District of Columbia1
Florida12
Georgia14
Iowa16
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina17
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York34
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total443

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