Form 990 for tax year 2023
Filed by MIDDLESEX COUMMUNITY COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $3,240,637
- Total expenses
- $2,580,871
- Contributions and grants received
- $2,671,589
- Grants paid
- $216,413
- Program service revenue
- $0
- Investment income
- $259,725
- Other revenue
- $309,323
- Total assets, end of year
- $10,690,435
- Total liabilities, end of year
- $1,056,433
- Net assets or fund balances, end of year
- $9,634,002
- Program services expenses (Part IX)
- $2,242,697
- Management and general expenses
- $338,174
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,242,697
Program services were 86.9% 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
$2,671,589
-
3 · Investment income
total $241,085 · excluded $241,085
-
6a · Gross rents
real property $117,242
-
6b · Less rental expenses
real property $1,717
-
6c · Rental income or loss
real property $115,525
-
6d · Net rental income or loss
total $115,525 · related or exempt $115,525
-
7a · Gross sales of assets other than inventory
securities $18,640
-
7c · Gain or loss
securities $18,640
-
7d · Net gain or loss
total $18,640 · related or exempt $18,640
-
8a · Fundraising events: gross income
$149,570
-
8b · Fundraising events: direct expenses
$122,871
-
8c · Net income from fundraising events
total $26,699
-
11a · Other revenue: LICENSE INCOME
total $167,099 · excluded $167,099
-
11e · Other revenue, total
$167,099
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $216,413 · program services $216,413
-
11c · Fees: accounting
total $34,587 · management and general $34,587
-
11f · Fees: investment management
total $20,908 · management and general $20,908
-
11g · Fees: other
total $37,849 · management and general $37,849
-
16 · Occupancy
total $238,466 · management and general $238,466
-
24a · Other expenses: PROGRAM EXPENSES
total $2,025,806 · program services $2,025,806
-
24b · Other expenses: CREDIT CARD FEES
total $3,266 · management and general $3,266
-
24c · Other expenses: BANK CHARGES
total $3,098 · management and general $3,098
-
24d · Other expenses: BAD DEBTS
total $478 · program services $478
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,815,351 · end of year $2,340,245
-
2 · Savings and temporary cash investments
beginning of year $6,663,211 · end of year $7,312,707
-
3 · Pledges and grants receivable
beginning of year $13,333 · end of year $4,500
-
4 · Accounts receivable
beginning of year $336,333
-
9 · Prepaid expenses and deferred charges
beginning of year $22,479 · end of year $29,979
-
10a · Land, buildings and equipment: cost or other basis
$571,259
-
10b · Land, buildings and equipment: accumulated depreciation
$521,097
-
10c · Land, buildings and equipment, net
beginning of year $51,879 · end of year $50,162
-
15 · Other assets
beginning of year $1,160,735 · end of year $952,842
-
17 · Accounts payable and accrued expenses
beginning of year $18,555 · end of year $3,877
-
19 · Deferred revenue
beginning of year $5,030 · end of year $5,181
-
25 · Other liabilities
beginning of year $1,494,867 · end of year $1,047,375
-
27 · Net assets without donor restrictions
beginning of year $2,796,988 · end of year $3,531,667
-
28 · Net assets with donor restrictions
beginning of year $5,747,881 · end of year $6,102,335
Mission and programs · 2023
Mission
TO ENLIST PRIVATE SECTOR SUPPORT IN FURTHERANCE OF THE EDUCATIONAL AND CHARITABLE PURPOSES OF MIDDLESEX COMMUNITY COLLEGE. IT IS THE VEHICLE FOR FUNDRAISING FROM INDIVIDUALS, CORPORATIONS, SMALL BUSINESSES AND PRIVATE FOUNDATIONS.
-
TO ENABLE MIDDLESEX COMMUNITY COLLEGE, A STATE OWNED AND OPERATED EDUCATIONAL INSTITUTION TO PROVIDE EDUCATIONAL ASSISTANCE TO MASSACHUSETTS RESIDENTS.
Expenses $2,242,697 · Grants $216,413
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
JAMES W HENDERSON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
FREDERICK CIAMPA
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
JOHN P CHEMALY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
SAMIR A DESAI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
DAVID BASILE
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 2
-
LOIS ALVES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
LURA SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CAROLE A COWAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
WILLIAM CHEMELLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
STEPHANIE J CRONIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
PETE LALLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
GAIL TUZZOLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
MARY ELLEN MATTHEOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JOSEPH C CLERMONT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JAMES D'AGOSTINO
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.
Grants on this return
-
MIDDLESEX COMMUNITY COLLEGE
$216,413
TO PROVIDE SCHOLARSH
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.
-
116 · COMMUNITY · MA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530169349301018
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