Form 990 for tax year 2022
Filed by MASSACHUSETTS BAY COMMUNITY COLLEGE FOUNDATION.
Totals
- Total revenue
- $2,585,895
- Total expenses
- $2,469,831
- Contributions and grants received
- $2,292,599
- Grants paid
- $386,533
- Program service revenue
- $0
- Investment income
- $293,296
- Other revenue
- $0
- Total assets, end of year
- $7,063,730
- Total liabilities, end of year
- $86,174
- Net assets or fund balances, end of year
- $6,977,556
- Program services expenses (Part IX)
- $2,391,132
- Management and general expenses
- $78,699
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,391,132
Program services were 96.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$2,292,599
-
1g · Noncash contributions included above
$100,322
-
3 · Investment income
total $133,987 · excluded $133,987
-
7a · Gross sales of assets other than inventory
securities $1,031,136
-
7b · Less cost or other basis and sales expenses
securities $871,827
-
7c · Gain or loss
securities $159,309
-
7d · Net gain or loss
total $159,309 · excluded $159,309
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $386,533 · program services $386,533
-
11c · Fees: accounting
total $12,994 · management and general $12,994
-
11f · Fees: investment management
total $30,000 · management and general $30,000
-
13 · Office expenses
total $33,075 · management and general $33,075
-
19 · Conferences, conventions and meetings
total $2,630 · management and general $2,630
-
24a · Other expenses: ACADEMIC PROGRAMS AND S
total $2,004,599 · program services $2,004,599
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $637,716 · end of year $774,883
-
3 · Pledges and grants receivable
beginning of year $261,130 · end of year $79,611
-
4 · Accounts receivable
beginning of year $0 · end of year $889,666
-
12 · Investments: other securities
beginning of year $5,809,702 · end of year $5,319,570
-
25 · Other liabilities
beginning of year $113,580 · end of year $86,174
-
27 · Net assets without donor restrictions
beginning of year $1,574,234 · end of year $1,440,918
-
28 · Net assets with donor restrictions
beginning of year $5,020,734 · end of year $5,536,638
Mission and programs · 2022
Mission
THE FOUNDATION BOARD ENHANCES THE VITALITY OF THE COLLEGE BY PROMOTING INVESTMENT FROM EXTERNAL SOURCES, GROWING THE ENDOWMENT, AWARDING SCHOLARSHIPS, AND CREATING PARTNERSHIPS FOR LEARNING. IN SO DOING, THE FOUNDATION SEEKS TO BE A CATALYST FOR TRANSFORMING THE COLLEGE BY SUPPORTING EDUCATIONAL EXCELLENCE AND ACHIEVEMENT.
Activities or mission (Part I)
TO PROVIDE SCHOLARSHIPS AND COLLEGE FUNDRAISING
-
AWARDS SCHOLARSHIPS TO VARIOUS STUDENTS.
Expenses $386,533 · Grants $386,533
-
ACADEMIC PROGRAMS AND STUDENT SERVICES.
Expenses $2,004,599
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
James J McKenzieJAMES J MCKENZIE
DIRECTOR & CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Stephen T HibbardSTEPHEN T HIBBARD
DIRECTOR & VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph AsayaJOSEPH ASAYA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Chris CavalleranoCHRIS CAVALLERANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Thomas W CleverdonTHOMAS W CLEVERDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Howard FerrisHOWARD FERRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Rebecca KannamREBECCA KANNAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
David KennedyDAVID KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tony LoftisTONY LOFTIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tina Kao MylonTINA KAO MYLON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Stacy OkadaSTACY OKADA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Todd OfenlochTODD OFENLOCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
MASSACHUSETTS BAY COMMUNITY COLLEGE
$386,533
SCHOLARSHIPS
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MASSACHUSETTS BAY COMMUNITY COLLEGE
SEC 115 · HIGHER EDUCATION · MA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400339349300015
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