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Nonprofiteer
← MGHPCC HOLYOKE INC

Form 990 for tax year 2022

Filed by MGHPCC HOLYOKE INC.

Totals

Total revenue
$145,505
Total expenses
$2,087,756
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$145,503
Investment income
$2
Other revenue
$0
Total assets, end of year
$52,156,837
Total liabilities, end of year
$2,933,716
Net assets or fund balances, end of year
$49,223,121
Program services expenses (Part IX)
$2,087,756
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,087,756

Program services were 100.0% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $145,503 · related or exempt $145,503

  • 3 · Investment income

    total $2 · excluded $2

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $2,087,756 · program services $2,087,756

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,750 · end of year $4,752

  • 10a · Land, buildings and equipment: cost or other basis

    $75,781,835

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,629,750

  • 10c · Land, buildings and equipment, net

    beginning of year $54,239,841 · end of year $52,152,085

  • 25 · Other liabilities

    beginning of year $3,078,219 · end of year $2,933,716

  • 27 · Net assets without donor restrictions

    beginning of year $51,165,372 · end of year $49,223,121

Mission and programs · 2022

Mission

TO OWN AND LEASE A FACILITY WHICH WILL HOUSE A HIGH PERFORMANCE COMPUTING CENTER TO SUPPORT, ASSIST, ENHANCE, AND ADVANCE THE SCIENTIFIC RESEARCH ACTIVITIES OF ITS MEMBER UNIVERSITIES.

Activities or mission (Part I)

MAINTAIN A FACILITY WHICH WILL HOUSE A HIGH PERFORMANCE COMPUTING CENTER TO SUPPORT, ASSIST, ENHANCE, AND ADVANCE THE SCIENTIFIC RESEARCH ACTIVITIES OF ITS MEMBER UNIVERSITIES.

  • TO DEVELOP, CONSTRUCT, OWN AND LEASE A FACILITY WHICH WILL HOUSE A HIGH PERFORMANCE COMPUTING CENTER TO SUPPORT, ASSIST, ENHANCE, AND ADVANCE THE SCIENTIFIC RESEARCH ACTIVITIES OF ITS MEMBER UNIVERSITIES.

    Expenses $2,087,756 · Revenue $145,503

As filed on the 2022 return.

Listed in Part VII

  • David Luzzi

    DIRECTOR

    Total calculated
    $747,838
    From this org
    $0
    From related orgs
    $687,010
    Other
    $60,828
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $356,829 related
    Bonus
    $0 + $75,018 related
    Other
    $0 + $255,163 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $30,328 related
    Filer's total
    $0 + $747,838 related

  • Gloria Waters

    DIRECTOR

    Total calculated
    $534,975
    From this org
    $0
    From related orgs
    $499,246
    Other
    $35,729
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $495,100 related
    Bonus
    $0
    Other
    $0 + $4,146 related
    Deferred
    $0 + $35,306 related
    Nontaxable benefits
    $0 + $423 related
    Filer's total
    $0 + $534,975 related

  • John Shaw

    DIRECTOR

    Total calculated
    $585,817
    From this org
    $0
    From related orgs
    $517,148
    Other
    $68,669
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $449,048 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $53,100 related
    Deferred
    $0 + $38,400 related
    Nontaxable benefits
    $0 + $30,269 related
    Filer's total
    $0 + $585,817 related

  • Maria Zuber

    DIRECTOR

    Total calculated
    $585,885
    From this org
    $0
    From related orgs
    $548,182
    Other
    $37,703
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $525,932 related
    Bonus
    $0
    Other
    $0 + $22,250 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $22,453 related
    Filer's total
    $0 + $585,885 related

  • Michael Malone

    DIRECTOR

    Total calculated
    $474,726
    From this org
    $0
    From related orgs
    $388,787
    Other
    $85,939
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $382,238 related
    Bonus
    $0 + $6,456 related
    Other
    $0 + $93 related
    Deferred
    $0 + $74,727 related
    Nontaxable benefits
    $0 + $11,212 related
    Filer's total
    $0 + $474,726 related

  • Christopher Simmons

    CLERK (FROM 8/20/22)

    Total calculated
    $81,208
    From this org
    $0
    From related orgs
    $74,787
    Other
    $6,421
    Hours/week
    1 + 40 related

  • John Goodhue

    PRESIDENT

    Total calculated
    $343,169
    From this org
    $0
    From related orgs
    $305,730
    Other
    $37,439
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,264 related
    Bonus
    $0
    Other
    $0 + $466 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $22,189 related
    Filer's total
    $0 + $343,169 related

  • Susan Scannell

    CLERK (THROUGH 8/19/22)

    Total calculated
    $114,871
    From this org
    $0
    From related orgs
    $102,242
    Other
    $12,629
    Hours/week
    1 + 40 related

  • Thomas Nedell

    TREASURER

    Total calculated
    $1,161,193
    From this org
    $0
    From related orgs
    $929,193
    Other
    $232,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $759,686 related
    Bonus
    $0 + $109,420 related
    Other
    $0 + $60,087 related
    Deferred
    $0 + $155,500 related
    Nontaxable benefits
    $0 + $76,500 related
    Filer's total
    $0 + $1,161,193 related

  • Christopher Stubbs

    FORMER DIRECTOR

    Total calculated
    $563,930
    From this org
    $0
    From related orgs
    $496,879
    Other
    $67,051
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $379,776 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $107,103 related
    Deferred
    $0 + $38,400 related
    Nontaxable benefits
    $0 + $28,651 related
    Filer's total
    $0 + $563,930 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION RECEIVED PROPOSALS FROM THREE DIFFERENT SEARCH FIRMS AND AFTER CAREFUL REVIEW ENGAGED KORN FERRY INTERNATIONAL OF BOSTON TO CONDUCT A NATIONAL SEARCH FOR THIS POSITION. INCLUDED IN THEIR SERVICES WAS A SALARY REVIEW AND RECOMMENDATION FOR THIS POSITION. A TEAM INCLUDING REPRESENTATION FROM MIT, HARVARD, BU, UMASS AND NORTHEASTERN WAS ASKED BY THE ADVISORY BOARD MEMBERS TO BE PART OF THE SEARCH COMMITTEE. THE SEARCH TEAM INCLUDED CIO'S FROM EACH OF THE UNIVERSITIES. THE COMPENSATION RANGE FOR THE POSITION WAS REVIEWED AND APPROVED BY THE HUMAN RESOURCES DEPARTMENT OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY, USING COMPARABILITY DATA, AND APPROVED AS A BUDGET LINE ITEM BY THE BOARD OF DIRECTORS. ALL COMPENSATION IS PAID BY RELATED ORGANIZATIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349307042

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