Cambridge College Inc
- Assets
- $83.4m
- Revenue
- $41.6m
- Investments
- $0.0
- Employees
- 655
- Location
- Boston, MA
- Founding
- 09/1975
- Data as of
- 08/2021
- EIN
- 51-0163080
Organization Overview
Cambridge College Inc is located in Boston, MA. The organization was established in 1975. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 08/2021, Cambridge College Inc employed 655 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge College Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Cambridge College Inc generated $41.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $42.6m during the year ending 08/2021. While expenses have increased by 6.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF CAMBRIDGE COLLEGE IS TO PROVIDE ACADEMICALLY EXCELLENT (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR MORE THAN 45 YEARS CAMBRIDGE COLLEGE HAS BEEN A LEADER AND PIONEER IN ADULT LEARNING. WITH A MAIN CAMPUS IN BOSTON, MASSACHUSETTS, AND FOUR REGIONAL LOCATIONS NATIONWIDE, WE PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT, AND AFFORDABLE HIGHER EDUCATION TO A DIVERSE POPULATION OF ADULT LEARNERS. OUR MORE THAN 450 FULL-TIME AND PART-TIME FACULTY ARE SCHOLAR-PRACTITIONERS WHO BRING THEIR EXPERIENCE INTO THE CLASSROOM. EACH YEAR, WE ENROLL OVER 4,200 STUDENTS IN OUR UNDERGRADUATE, MASTER'S, AND DOCTORAL DEGREE PROGRAMS AND CERTIFICATE OF ADVANCED GRADUATE STUDIES PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah C Jackson President | OfficerTrustee | 60 | $347,620 |
John J Spinard VP Of Finance & Administration | Officer | 50 | $204,787 |
Mark S Rotondo VP Of Innnovation & Strategy | Officer | 50 | $186,587 |
Lauretta D Siggers VP Of Hr & Talent Development | Officer | 50 | $145,417 |
Thomas J Cahill Jr - Vp On Institutional Advancement | Officer | 50 | $140,784 |
Niti Seth - Dean School Of Psychology & Counseling | 50 | $132,909 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focus Edusolutions Inc Consulting | 8/30/21 | $466,895 |
Iron Bridge Resources Llc Temp Staff | 8/30/21 | $228,307 |
Collegiate Enterprise Solutions Llc Consulting | 8/30/21 | $341,889 |
Rose Law Partners Llp Legal | 8/30/21 | $192,549 |
Northeast Security Inc Security | 8/30/21 | $168,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,550,123 |
| All other contributions, gifts, grants, and similar amounts not included above | $749,967 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,300,090 |
| Total Program Service Revenue | $27,540,161 |
| Investment income | $1,231,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $185,551 |
| Net Gain/Loss on Asset Sales | $4,247,869 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,615,020 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,612,979 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,600,554 |
| Compensation of current officers, directors, key employees. | $1,225,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,341,132 |
| Pension plan accruals and contributions | $1,016,123 |
| Other employee benefits | $1,841,353 |
| Payroll taxes | $1,450,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $364,493 |
| Fees for services: Accounting | $140,517 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $87,964 |
| Fees for services: Investment Management | $317,356 |
| Fees for services: Other | $2,145,244 |
| Advertising and promotion | $1,360,841 |
| Office expenses | $496,784 |
| Information technology | $678,440 |
| Royalties | $0 |
| Occupancy | $5,735,605 |
| Travel | $5,891 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,875 |
| Interest | $646,900 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,358,556 |
| Insurance | $243,648 |
| All other expenses | $152,116 |
| Total functional expenses | $42,594,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,566 |
| Savings and temporary cash investments | $7,821,318 |
| Pledges and grants receivable | $267,151 |
| Accounts receivable, net | $2,627,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $959,827 |
| Net Land, buildings, and equipment | $7,912,075 |
| Investments—publicly traded securities | $62,053,600 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,426,743 |
| Other assets | $318,658 |
| Total assets | $83,415,943 |
| Accounts payable and accrued expenses | $5,014,153 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,389,970 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,805,560 |
| Total liabilities | $24,209,683 |
| Net assets without donor restrictions | $44,577,594 |
| Net assets with donor restrictions | $14,628,666 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $83,415,943 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Cambridge College Inc has recieved totaling $571,940.
| Awarding Organization | Amount |
|---|---|
Davis Educational Foundation Yarmouth, ME PURPOSE: Pillars of Online Teaching Success: Master Course Certification Program | $184,729 |
Lynch Foundation Boston, MA PURPOSE: SCHOLARSHIP SUPPORT | $125,461 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: CHARLESTOWN HIGH SCHOOL EARLY COLLEGE FOR STEM | $55,000 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: CHARLESTOWN HIGH SCHOOL EARLY COLLEGE FOR STEM | $55,000 |
Dorot Foundation Providence, RI PURPOSE: GENERAL OPERATING | $50,000 |
Dorot Foundation Providence, RI PURPOSE: GENERAL OPERATING | $50,000 |
Endowment Analysis
| Beg. Balance | $61,023,483 |
| Earnings | $6,715,343 |
| Other Expense | $9,024,746 |
| Grants | $405,776 |
| Ending Balance | $58,308,304 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain College Inc Burlington, VT | $240,784,775 | $119,718,125 |
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Curry College Milton, MA | $220,105,546 | $116,112,495 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
Regis College Weston, MA | $109,512,086 | $107,679,867 |
St Francis College Brooklyn, NY | $411,618,421 | $89,705,791 |
Utica University Utica, NY | $156,931,603 | $105,142,781 |
College Of Mount Saint Vincent Riverdale, NY | $139,449,317 | $110,010,056 |
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |