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← BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY

Form 990 for tax year 2022

Filed by BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY.

Totals

Total revenue
$19,382,762
Total expenses
$16,875,340
Contributions and grants received
$9,770,719
Grants paid
$2,031,019
Program service revenue
$9,426,991
Investment income
$7,507
Other revenue
$177,545
Total assets, end of year
$22,696,356
Total liabilities, end of year
$13,872,185
Net assets or fund balances, end of year
$8,824,171
Program services expenses (Part IX)
$12,251,346
Management and general expenses
$3,792,113
Fundraising expenses
$831,881
Program service expenses (Part III)
$12,251,346

Program services were 72.6% 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.

  • 1e · Government grants (contributions)

    $1,714,358

  • 1f · All other contributions, gifts and grants

    $8,056,361

  • 1g · Noncash contributions included above

    $261,434

  • 2a · Program service revenue: TUITION AND FEES

    total $7,266,362 · related or exempt $7,266,362

  • 2b · Program service revenue: AUXILIARY INCOME

    total $1,669,618 · related or exempt $1,669,618

  • 2c · Program service revenue: STUDENT PROVISIONS

    total $491,011 · related or exempt $491,011

  • 3 · Investment income

    total $6,944 · excluded $6,944

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $177,545

  • 6c · Rental income or loss

    real property $177,545 · personal property $0

  • 6d · Net rental income or loss

    total $177,545 · excluded $177,545

  • 7a · Gross sales of assets other than inventory

    securities $92,149

  • 7b · Less cost or other basis and sales expenses

    securities $91,586

  • 7c · Gain or loss

    securities $563

  • 7d · Net gain or loss

    total $563 · excluded $563

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $2,031,019 · program services $2,031,019

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $406,453 · program services $320,325 · management and general $64,708 · fundraising $21,420

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $6,401,789 · program services $5,218,308 · management and general $835,029 · fundraising $348,452

  • 8 · Pension plan contributions

    total $155,441 · program services $93,096 · management and general $58,039 · fundraising $4,306

  • 9 · Other employee benefits

    total $656,735 · program services $381,601 · management and general $256,134 · fundraising $19,000

  • 10 · Payroll taxes

    total $491,071 · program services $413,738 · management and general $52,463 · fundraising $24,870

  • 11a · Fees: management

    total $2,170,040 · program services $1,595,933 · management and general $503,520 · fundraising $70,587

  • 11b · Fees: legal

    total $88,743 · program services $3,510 · management and general $85,233

  • 11c · Fees: accounting

    total $70,914 · management and general $70,914

  • 11d · Fees: lobbying

    total $72,000 · management and general $72,000

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $298,300 · program services $22,915 · management and general $131,189 · fundraising $144,196

  • 12 · Advertising and promotion

    total $351,220 · program services $284,006 · management and general $63,000 · fundraising $4,214

  • 13 · Office expenses

    total $192,996 · program services $46,780 · management and general $106,231 · fundraising $39,985

  • 14 · Information technology

    total $382,596 · program services $371,836 · management and general $1,999 · fundraising $8,761

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $240,120 · program services $32,981 · management and general $207,094 · fundraising $45

  • 17 · Travel

    total $22,927 · program services $12,645 · management and general $7,007 · fundraising $3,275

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $55,561 · program services $36,957 · management and general $15,736 · fundraising $2,868

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $397,075 · management and general $397,075

  • 23 · Insurance

    total $92,056 · management and general $92,056

  • 24a · Other expenses: STUDENT SERVICES

    total $341,900 · program services $341,900

  • 24b · Other expenses: STUDENT PROVISIONS

    total $444,740 · program services $444,740

  • 24c · Other expenses: EQUIPMENT RENTAL AND MAINTENAN

    total $628,940 · program services $501,455 · management and general $127,300 · fundraising $185

  • 24d · Other expenses: BAD DEBT

    total $426,865 · management and general $426,865

  • 24e · All other expenses

    total $455,839 · program services $97,601 · management and general $218,521 · fundraising $139,717

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $726,911 · end of year $2,358,390

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $1,512,227 · end of year $2,528,473

  • 4 · Accounts receivable

    beginning of year $1,091,126 · end of year $1,615,740

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,646 · end of year $192,861

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

    $21,531,501

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

    $6,840,304

  • 10c · Land, buildings and equipment, net

    beginning of year $12,762,957 · end of year $14,691,197

  • 11 · Investments: publicly traded securities

    beginning of year $950,010 · end of year $1,270,200

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $20,000 · end of year $39,495

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,525,575 · end of year $1,502,932

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,246,435 · end of year $914,324

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $8,102,136 · end of year $11,435,155

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $19,774

  • 27 · Net assets without donor restrictions

    beginning of year $926,489 · end of year $1,191,271

  • 28 · Net assets with donor restrictions

    beginning of year $5,395,242 · end of year $7,632,900

Mission and programs · 2022

Mission

BENJAMIN FRANKLIN CUMMINGS INSTITUTE OF TECHNOLOGY'S MISSION IS TO DELIVER TRANSFORMATIVE TECHNICAL AND TRADE EDUCATION THAT LEADS TO ECONOMIC ADVANCEMENT.

  • SEE SCHEDULE O

    Expenses $12,251,346 · Grants $2,031,019 · Revenue $9,426,991

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Aisha Francis

    President & CEO

    Total calculated
    $290,437
    From this org
    $261,081
    From related orgs
    $0
    Other
    $29,356
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $261,081
    Bonus
    $0
    Other
    $0
    Deferred
    $14,318
    Nontaxable benefits
    $15,038
    Filer's total
    $290,437

  • Marvin Loiseau

    Dean of Academics & Chief Acad

    Total calculated
    $170,526
    From this org
    $156,342
    From related orgs
    $0
    Other
    $14,184
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $156,342
    Bonus
    $0
    Other
    $0
    Deferred
    $8,370
    Nontaxable benefits
    $5,814
    Filer's total
    $170,526

  • Courtney Roy-Branigan

    Chief Campaign Officer

    Total calculated
    $159,854
    From this org
    $145,083
    From related orgs
    $0
    Other
    $14,771
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $145,083
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,771
    Filer's total
    $159,854

  • Kevin Hepner

    Chief Financial Officer

    Total calculated
    $153,465
    From this org
    $147,651
    From related orgs
    $0
    Other
    $5,814
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $147,651
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $5,814
    Filer's total
    $153,465

  • Kristen Hurley

    Chief Strategy Officer

    Total calculated
    $146,966
    From this org
    $133,801
    From related orgs
    $0
    Other
    $13,165
    Hours/week
    35

  • Alan Blair

    Controller

    Total calculated
    $124,997
    From this org
    $104,031
    From related orgs
    $0
    Other
    $20,966
    Hours/week
    35

  • Jackie Cornog

    Dean of Students

    Total calculated
    $119,724
    From this org
    $107,835
    From related orgs
    $0
    Other
    $11,889
    Hours/week
    35

  • Turahn Dorsey

    Chair Board of Trustees

    Total calculated
    $0
    Hours/week
    5

  • Rahkeem Morris

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Marisa Meldonian

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Claire Wadlington

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Maureen Pompeo

    Clerk

    Total calculated
    $0
    Hours/week
    5

  • Trinh Nguyen

    City of Boston Rep

    Total calculated
    $0
    Hours/week
    5

  • David Fischer

    Director

    Total calculated
    $0
    Hours/week
    2

  • Andrew Tarsy

    Director

    Total calculated
    $0
    Hours/week
    2

  • Rahul Yarala

    Director

    Total calculated
    $0
    Hours/week
    2

  • Roger Berman

    Director

    Total calculated
    $0
    Hours/week
    2

  • Chenita Daughtry

    Director

    Total calculated
    $0
    Hours/week
    2

  • Paul Macrina

    Director

    Total calculated
    $0
    Hours/week
    2

  • Stetson Marshall

    Director

    Total calculated
    $0
    Hours/week
    2

  • Adam Pase

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ekumene Lysonge

    Director

    Total calculated
    $0
    Hours/week
    2

  • Rachel Kaprielian

    Director

    Total calculated
    $0
    Hours/week
    2

  • Caroline Fay

    Director

    Total calculated
    $0
    Hours/week
    2

  • Roger Brown

    Director

    Total calculated
    $0
    Hours/week
    2

  • Fernando Rodriguez-Villa

    Director

    Total calculated
    $0
    Hours/week
    2

  • Anna Yu

    director

    Total calculated
    $0
    Hours/week
    2

  • Mary Churchill

    director

    Total calculated
    $0
    Hours/week
    2

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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

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
22 March 2024
IRS schema version
2022v5.0
Source object
202411249349301321

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