Cambridge College Inc
- Assets
- $110.9m
- Revenue
- $35.3m
- Investments
- $0.0
- Employees
- 599
- Location
- Boston, MA
- Founding
- 09/1975
- Data as of
- 08/2023
- 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 08/2023, Cambridge College Inc employed 599 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 08/2023, Cambridge College Inc generated $35.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $39.5m during the year ending 08/2023. While expenses have increased by 3.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF CAMBRIDGE COLLEGE IS TO PROVIDE ACADEMICALLY EXCELLENT (CONTINUED ON SCHEDULE O)TIME-EFFICIENT, AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR MORE THAN 50 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 330 FULL-TIME AND PART-TIME FACULTY ARE SCHOLAR-PRACTITIONERS WHO BRING THEIR EXPERIENCE INTO THE CLASSROOM. EACH YEAR, WE ENROLL OVER 3,500 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 | $369,052 |
Kevin Mccall Chair | OfficerTrustee | 1.5 | $0 |
Susan M Ifill Chair (thru 12/2022) | OfficerTrustee | 1.5 | $0 |
Stephanie Browne Vice Chair | OfficerTrustee | 1 | $0 |
Allan Cohen Vice Chair (thru 10/2022) | OfficerTrustee | 1 | $0 |
Charles L Anderson MD Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focus Edusolutions Inc Consulting | 8/30/23 | $949,737 |
Jenzabar Inc Software Consulting | 8/30/23 | $264,710 |
Iheart Media Inc Advertising | 8/30/23 | $206,947 |
Judith R Sizer Legal | 8/30/23 | $197,356 |
Planet Professional Llc Staffing | 8/30/23 | $150,180 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $427,055 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,612,305 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,039,360 |
| Total Program Service Revenue | $19,491,118 |
| Investment income | $908,961 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,560 |
| Net Gain/Loss on Asset Sales | -$1,234,309 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,337,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,044,638 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,245,564 |
| Compensation of current officers, directors, key employees. | $1,140,166 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,676,809 |
| Pension plan accruals and contributions | $784,993 |
| Other employee benefits | $1,116,422 |
| Payroll taxes | $1,121,744 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $359,174 |
| Fees for services: Accounting | $170,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $147,770 |
| Fees for services: Investment Management | $200,733 |
| Fees for services: Other | $3,788,879 |
| Advertising and promotion | $1,858,815 |
| Office expenses | $538,973 |
| Information technology | $792,687 |
| Royalties | $0 |
| Occupancy | $6,747,546 |
| Travel | $44,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,877 |
| Interest | $1,421,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,006,545 |
| Insurance | $312,683 |
| All other expenses | $31,957 |
| Total functional expenses | $39,512,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,215 |
| Savings and temporary cash investments | $8,135,642 |
| Pledges and grants receivable | $253,365 |
| Accounts receivable, net | $2,063,777 |
| 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 | $960,144 |
| Net Land, buildings, and equipment | $6,527,079 |
| Investments—publicly traded securities | $49,057,935 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,091,525 |
| Other assets | $42,715,115 |
| Total assets | $110,868,797 |
| Accounts payable and accrued expenses | $3,359,682 |
| Grants payable | $0 |
| Deferred revenue | $2,437,136 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,802,650 |
| Total liabilities | $72,599,468 |
| Net assets without donor restrictions | $19,797,969 |
| Net assets with donor restrictions | $18,471,360 |
| 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 | $110,868,797 |