2024-03-02T09:32:33-06:00 2023-06-30 222027092 WITHUM SMITH BROWN PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2022-07-01 237100537 MASSASOIT COMMUNITY COLLEGE FOUNDATION INC MASS 5085889100 ONE MASSASOIT BLVD BROCKTON MA 02302 ROBERT TERRAVECCHIA JR PRESIDENT 5085889100 2024-02-26 1 ROBERT TERRAVECCHIA JR 999009999 0 MICHAEL J COSGROVE P02127030 6174711120 2024-02-26 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT TERRAVECCHIA JR ONE MASSASOIT BLVD BROCKTON MA 02302 678390 0 X MASSASOIT.EDU/ALUMNI/MASSASOIT-FOUNDATION X 1976 MA ASSIST IN SERVING STUDENTS OF MASSASOIT COMMUNITY COLLEGE WHO ARE IN NEED OF FINANCIAL AID AND TO ENRICH OR ADD TO THE FACILITIES, SERVICES, OR PROGRAMS. 16 16 0 16 0 0 540330 331523 0 0 2391 6549 37636 21141 580357 359213 373906 182609 0 0 0 0 0 0 0 712648 76764 1086554 259373 -506197 99840 2221109 2163879 274002 24618 1947107 2139261 ASSIST IN SERVING STUDENTS OF MASSASOIT COMMUNITY COLLEGE WHO ARE IN NEED OF FINANCIAL AID AND TO ENRICH OR ADD TO THE FACILITIES, SERVICES, OR PROGRAMS. 0 0 182609 182609 FUNDS WERE PROVIDED FOR SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO NEEDY STUDENTS. 44879 THE FOUNDATION ASSISTS THE COLLEGE IN ENCOURAGING STUDENTS TO BECOME INVOLVED WITH THE ARTS. 227488 1 1 0 0 0 1 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X TERESA FRUZZETTI 5085889100 1 MASSASOIT BLVD BROCKTON MA 02302 ROBERT TERRAVECCHIA JR FOUNDATION PRESIDENT 1.00 X X 0 0 0 THOMAS CARROLL JR VICE CHAIR 1.00 X X 0 0 0 BRUCE HUGHES SECRETARY 1.00 X X 0 0 0 LISA RHEAULT-SLINEY TREASURER 1.00 X X 0 0 0 ROBERT MACINTOSH ASSISTANT TREASURER 1.00 X X 0 0 0 EVAL SILVERA DIRECTOR 0.50 X 0 0 0 MARK COLETTA DIRECTOR 0.50 X 0 0 0 LOURENCO DASILVA DIRECTOR 0.50 X 0 0 0 FRANK LANE DIRECTOR 0.50 X 0 0 0 RITA MENDES DIRECTOR 0.50 X 0 0 0 ANGELA NUSS DIRECTOR 0.50 X 0 0 0 JIMMY PEREIRA DIRECTOR 0.50 X 0 0 0 EDWARD PERRY JR DIRECTOR 0.50 X 0 0 0 PATRICK POWERS DIRECTOR 0.50 X 0 0 0 SIMONE SANTIAGO DIRECTOR 0.50 X 0 0 0 RAY DIPASQUALE COLLEGE PRESIDENT 2.00 X X 0 0 0 MICHELLE BADGER EXECUTIVE DIRECTOR 10.00 30.00 X 0 103362 11325 0 103362 11325 0 0 0 0 0 13340 318183 9990 331523 31906 31906 223297 248654 -25357 -25357 -25357 91664 13340 70523 21141 21141 359213 0 0 27690 182609 182609 65 65 15854 15854 3228 3228 410 410 8607 8607 644 644 3077 3077 OTHER PROGRAM EXPENSES 44879 44879 259373 227488 31885 0 20943 2000 1087581 920287 65000 52700 2000 3500 1045585 1185392 2221109 2163879 262002 24618 12000 0 274002 24618 X 813638 960383 1133469 1178878 1947107 2139261 2221109 2163879 99840 92314 0 X X 0 1 X 1 0 X 193715 418377 615486 540330 331523 2099431 62000 78000 78000 72000 102000 392000 255715 496377 693486 612330 433523 2491431 2491431 42998 23453 37170 27215 31906 162742 2654173 0.93870 0.93210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 866197 96417 962614 1659740 -119652 673891 866197 1502330 157410 1659740 1301092 168157 33081 1502330 1223437 26081 51574 1301092 0.74878 0.25122 0 0 0 CORPORATE EQUITY SECURITIES 768294 F US GOVERNMENT OBLIGATIONS 265650 F CORPORATE BONDS 151448 F 1185392 X 620822 92314 102000 70523 264837 355985 3228 3228 359213 428668 102000 70523 172523 256145 3228 3228 259373 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS ARE TO SUPPORT THE PROGRAMS OF THE FOUNDATION. PART X, LINE 2: THE FOUNDATION HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES, THE FOUNDATION MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES, THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM FUNDRAISING EVENTS 70,523. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM FUNDRAISING EVENTS 70,523. PART XI- LINE 2D & PART XII- LINE 2D THE OTHER ITEMS INCLUDED ON THE AUDITED FINANCIAL STATEMENTS BUT NOT ON THE FORM 990 ARE DIRECT REVENUES AND EXPENSES FROM AN EXEMPT FUNDRAISING EVENT (SEE PART XI- LINE 2D) AND UNRECOGNIZED GAINS ON INVESTMENTS (PART XII- LINE 2D). SERVICES DONATED FROM A RELATED PARTY ARE ALSO INCLUDED AS A RECONCILING ITEM. GOLF TOURNAMENT 46532 5340 41192 700 10080 5793 5478 EVENING OF CHAMPIONS 58472 8000 50472 24398 19474 250 4350 105004 13340 91664 700 34478 25267 250 9828 70523 21141 0 MASSASOIT COMMUNITY COLLEGE ONE MASSASOIT BOULEVARD BROCKTON MA 02302 046281061 115 182609 0 FMV SCHOLARSHIPS FOR ITS STUDENTS 1 FORM 990, PART VI, SECTION A, LINE 7A EXISTING MEMBERS OF THE BOARD OF DIRECTORS APPROVE NEW MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT AND ANOTHER OFFICER REVIEW THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IF THERE IS A CONFLICT OF INTEREST, THE MEMBER SHALL NOT REVIEW THAT PROSPECTIVE ITEM AND SHALL ABSTAIN FROM VOTING. ABSTENTION FROM VOTING SHALL BE RECORDED IN THE MINUTES OF THE MEETING.IN SPECIAL CIRCUMSTANCES, WITH A VOTE OF THE MAJORITY OF THE DISINTERESTED MEMBERS, THE BOARD MAY VOTE TO SUSPEND THE CONFLICT POLICY AND THEN ALLOW ALL MEMEBERS TO VOTE. THIS SPECIAL VOTE WILL ALSO BE ENTERED INTO THE MINUTES OF THE MEETING. ALL MEMEBERS SHALL PROVIDE AN ANNUAL WRITTEN SUMMARY OF ALL BUSINESS INVOLVEMENT WITH THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MASSASOIT COMMUNITY COLLEGE ONE MASSASOIT BOULEVARD BROCKTON MA 02302 046281061 HIGHER EDUCATION MA 115 N/A N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 MASSASOIT COMMUNITY COLLEGE B 182609 FMV MASSASOIT COMMUNITY COLLEGE O 102000 EST EMPLOYEES COST COLLEGE PAYS