2024-05-13T14:24:07-07:00 2023-06-30 990 2022-07-01 042005934 FISHER COLLEGE FISH 6172368800 118 Beacon Street Boston MA 02116 Jeffrey Conrad Director of Accounting 6172368800 2024-05-13 Jeffrey Conrad 999009999 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Steven Rich 118 Beacon Street Boston MA 02116 26439120 0 X www.fisher.edu X 1903 MA Mission Statement: Fisher College improves lives by providing students with the knowledge and skills necessary for a lifetime of intellectual and professional pursuits. 14 12 453 50 0 0 1737670 1397363 18779732 19740421 1486394 1407005 480865 889038 22484661 23433827 0 0 0 0 12123015 13435100 0 0 330441 10188588 11715425 22311603 25150525 173058 -1716698 61143900 65998112 8911437 9508797 52232463 56489315 Fisher College enables students to earn a degree and seek a job upon graduation. Fisher College provides access to an education to approved students seeking the tools they need to achieve their goals. Dedicated, experienced, and caring educators allow Fisher College to accomplish its mission. The Fisher experience activates students to take ownership of their learning by preparing them to overcome challenges and pursue opportunities. Fisher's small-school setting allows students to form enduring and influential bonds with each other and with their professors. The Fisher community brings cultures and perspectives together in a dynamic arena. Fisher views ethical and moral development and public service as imperatives. Campus life enriches the Fisher community by offering students social and educational opportunities. 0 0 10460290 0 14260147 Educational/Instructional Services - As directed by the Fisher College Mission and its strategic goals, the academic program "changes lives" by enabling students to acquire knowledge and skills that will guide them through a lifetime of intellectual and professional pursuits. To that end, Fisher offers pragmatic and focused programs bolstered by an array of general education programs. Thus, Fisher graduates are prepared to be responsible and contributing members of society. The Fisher College Educational and Instructional Program Services are focused on the core values and objectives of higher education and the Mission of the College. 11165987 0 5480274 Housing & Student Services - The Fisher College campus, housing, student services and student resources programs define the College as much as the educational and instructional programs it offers and the people who embody its Mission. The students' experiences, and their memories of their years at Fisher College, are entwined with the campus and its offerings. Just as it safeguards the interest of its students, Fisher College is a steward of these vital and influential physical resources, programs and services, and this Program Service Accomplishment is imperative to the Mission of the College. 0 0 0 21626277 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 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 1 0 0 0 0 0 0 0 0 1 72 0 1 453 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 12 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Jeffrey Conrad 6172368800 118 Beacon Street Boston MA 02116 Steven Rich President 40 0 X 319306 0 19746 Janet Kuser-Komarnicki Vice President of Academic Affairs/Chief Academic Officer 40 0 X 167696 0 42744 Robert Melaragni Vice President of Enrollment Management 40 0 X 166664 0 29735 Jeffrey Conrad Director of Accounting 40 0 X 144848 0 23130 Nancy Pithis Dean of International Academic Operations and Curriculum Development 40 0 X 108427 0 27130 Brian Perrin Dean of Students 40 0 X 122984 0 9800 Meridith Spencer Program Director / associate professor of Sport Management 40 0 X 114605 0 17636 Marzieh Namazi Program Director / Assistant Professor IT 40 0 X 105910 0 14455 William Opava Director of Human Resources 40 0 X 102338 0 17962 Lynne Robinson Vice President of Graduate Professional Studies 40 0 X 107139 0 7454 Nancy Pedranti Program Director and Associate Professor, RN to BSN Program 40 0 X 103416 0 5883 Carolyn Smith Vice President of Finance 40 0 X 63374 0 5976 Alexandra L Bartsch Chairman of the Board 5 0 X X 0 0 0 Rebecca B Costello Vice Chair 2 0 X X 0 0 0 James Bayles Clerk 2 0 X X 0 0 0 Walter J Dillingham Treasurer 2 0 X X 0 0 0 LaVerne Brown Board Member 2 0 X 0 0 0 Stephanie Davidson Board Member 2 0 X 0 0 0 Peter C Everett Board Member 2 0 X 0 0 0 Christian C Fisher Board Member 2 0 X 0 0 0 John McDonnell Board Member 2 0 X 0 0 0 Lazaros Papadopoulos Board Member 2 0 X 0 0 0 Ashok Patel Board Member 2 0 X 0 0 0 Vikas Patel Board Member 2 0 X 0 0 0 Paul M Rowe Board Member 2 0 X 0 0 0 Dean Walton Board Member 2 0 X 0 0 0 1626707 0 221651 11 0 1 0 Mindmax PO Box 84 Duxbury MA 02331 Marketing 981200 Mike Fuller 10 Ray Street Danvers MA 01923 Plumbing 138933 2 0 0 0 0 1228104 169259 25639 1397363 Instructional Services 611310 14260147 14260147 0 0 Housing and Student Services 611310 5480274 5480274 0 0 0 0 0 0 19740421 674186 674186 0 0 0 0 0 0 0 0 0 0 919483 0 379623 0 539860 0 539860 539860 0 0 3358489 0 2625670 0 732819 0 732819 732819 0 0 0 0 0 0 0 0 Miscellaneous 611310 349178 349178 0 0 0 0 0 0 349178 23433827 22036464 0 0 0 0 0 0 0 0 0 0 1103055 663636 439419 0 0 0 0 0 10390822 9249599 1017500 123723 342550 298348 38991 5211 763198 638813 114123 10262 835475 722376 97496 15603 0 0 0 0 13699 4110 9576 13 63923 35511 28412 0 0 0 0 0 0 0 0 0 0 0 1051269 695663 313878 41728 1306880 1204230 102450 200 310051 224098 7196 78757 736002 579765 138357 17880 0 0 0 0 717319 692061 25258 0 886819 863878 22554 387 0 0 0 0 67130 66765 334 31 365370 309673 52871 2826 0 0 0 0 1451732 1218886 222259 10587 346318 290242 52339 3737 Utilities/Communication/Telephone 703319 575121 125465 2733 Materials and Supplies 500048 445864 49852 4332 Repairs/Maintenance/Sanitation 1191014 994154 187813 9047 Dining Services 1150599 1149000 100 1499 853933 704484 147564 1885 25150525 21626277 3193807 330441 589618 1592967 1913371 232373 5000 2500 149736 189058 0 0 0 0 289421 205936 0 0 671602 1253036 37770712 21477399 16201389 16293313 41323763 46228929 0 0 0 0 0 0 0 0 61143900 65998112 982569 1003666 0 0 1988817 1946988 5589310 5319656 0 0 0 0 0 1000000 0 0 350741 238487 8911437 9508797 X 52033352 56261013 199111 228302 52232463 56489315 61143900 65998112 X -1716698 5944359 0 0 0 29191 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 0 0 0 0 0 Schedule C, Part II-B, Line 1 In an expanding effort to seek adequate funding intended to further its mission, Fisher College utilized the services of internal employees to provide budget analysis and advocacy services designed to identify sources of funding based on the Fisher College profile. The College has also utilized the services of internal employees and outside consultants to assist with its community and government relations. 43017232 31164 7392109 0 2504000 83355 47853150 49653652 129479 -6685548 0 0 80351 43017232 36106972 61319 13557817 0 0 72456 49653652 34933547 60359 1186066 0 0 73000 36106972 34586670 51612 528651 0 0 233386 34933547 0.99 0.01 0 0 0 832400 4416015 5248415 6286960 22981437 19196202 10072195 0 0 0 0 49155 2955487 2081146 923496 0 249258 200051 49207 16293313 0 Refundable Advances - US Government 179009 Capital Leases 59478 238487 X 33407377 5944359 0 0 4029191 9973550 23433827 0 0 0 23433827 25150525 0 0 0 0 0 25150525 0 0 0 25150525 Schedule D, Part V, Line 4 The Fisher College quasi-endowment fund consists of certain designated unrestricted assets, held with an absence of donor-imposed restrictions, which are retained to function as an endowment fund. These funds are held as a contingency and may be used to support on-going operations, capital expenditures, or any purposes deemed appropriate which further enhance the mission of the College. Appropriations are subject to the guidelines of the fund appropriation policy and approval of the Board of Trustees. Schedule D, Part X, Line 1 Refundable Advances - US Government; Capital Leases. Schedule D, Part X, Line 2 Uncertain Tax Positions - The College accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable tax authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The College has identified its tax status as a tax exempt entity as its only significant tax position; however, the College has determined that such tax position does not result in an uncertainty requiring recognition. The College is not currently under examination by any taxing jurisdictions. The College's Federal and state tax returns are generally open for examination for three years following the date filed. Schedule D, Part XI, Line 2d Book entry only - Investment allocation - $4,000,000; Increase in assets with Donor Restrictions - $29,191. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Incorporated into its student solicitation programs, the College publicizes and provides to prospective students and the general community the following policies on Equal Education: Equal Education Opportunity - Fisher College is committed to an educational and working environment that provides equal opportunity to all members of the College community. In accordance with Federal and State law, the College prohibits unlawful discrimination on the basis of race, color, religion, national origin, gender, age, disability, citizenship, veteran status and sexual orientation. The requirement of newspaper or broadcast media does not apply, as the College draws a substantial portion of its student population from national and worldwide demographics, and follows a racially nondiscriminatory policy within the meaning of this section. The College can demonstrate that racial minority groups are enrolled in meaningful numbers. Schedule E, Part I, Line 6 In response to the pandemic, the Federal government provided to the College Higher Education Emergency Relief Funds ("HEERF") under the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, Coronavirus Response and Relief Supplemental Appropriations Act ("CRRSAA"), and American Rescue Plan Act ("ARPA"). The HEERF consisted of the student aid portion and institutional portion, and each Act requires a minimum amount to be spent on student aid. The student aid portion is required to be distributed to students as emergency grants for their expenses related to the disruption of campus operations due to coronavirus. The institutional portion can be used to cover any costs associated with significant changes to the delivery of instruction due to the coronavirus. Unless an extension is approved by the Department of Education, the student aid award and the institutional award must be spent by June 30, 2023. As of June 30, 2022, the College has expended its entire CARES, CRRSAA and ARPA awards. For the year ended June 30, 2022, the College expended $1,272,835 for emergency grants to students and $952,494 for institutional costs from the HEERF. Additionally, the College received an additional $92,835 for the year ended June 30, 2022, respectively, under the Strengthening Institutions Program provision of the CARES Act. On March 13, 2020, the President declared the COVID-19 pandemic of sufficient severity and magnitude to warrant an emergency declaration pursuant to section 501 (b) of the Stafford Act. In accordance with section 502 of the Stafford Act, eligible emergency protective measures taken to respond to the COVID-19 emergency at the direction or guidance of public health officials could be reimbursed under Category B of the agency's Public Assistance program through the Federal Emergency Management Agency (FEMA). Under the declaration, certain private non-profit organizations were declared eligible to apply for the available funding. The College applied, and was approved for, a total of $674,674 in reimbursable expenses incurred during the pandemic, and recorded the funds as Federal grant revenue for the year ended June 30, 2023. The funds were subsequently received following the close of the fiscal year. Europe (including Iceland and Greenland) Program Services Recruitment Fees 25414 South Asia Program Services Recruitment Fees 3000 North America (including Canada and Mexico, but not the United States) Program Services Higher Education Fairs 10145 0 0 38559 0 0 0 0 0 0 Schedule F, Part I, Line 3 Expenditures in region are recorded using the accrual method of accounting. X X X X 0 0 0 0 0 0 0 0 0 Steven Rich President 319306 0 0 0 0 0 15250 0 4496 0 339052 0 0 0 Janet Kuser-Komarnicki Vice President of Academic Affairs/Chief Academic Officer 167696 0 0 0 0 0 8936 0 33808 0 210440 0 0 0 Robert Melaragni Vice President of Enrollment Management 166664 0 0 0 0 0 8772 0 20962 0 196398 0 0 0 Jeffrey Conrad Director of Accounting 144848 0 0 0 0 0 7416 0 15714 0 167978 0 0 0 Schedule J, Part I, Line 3 Fisher College policy for determining compensation includes a review of comparable salaries at similar organizations in the general geographic vicinity for all positions within the college, the data of which has been researched through the Office of Human Resources. In the case of the Office of the President, this information is then formally reviewed by a committee, which subsequently makes a recommendation to the Board of Trustees. The Board deliberates and makes a final determination, and recordkeeping is maintained at each level of the process. For all other employees, comparable salaries are reviewed and determinations are made at the supervisory level, with final salary approval residing with the Office of the President; all records are maintained at each juncture of this progression. Comparable salary data is updated on an annual basis, with annual salary reviews for all employees utilizing the updated data. A Massachusetts Development Finance Agency 043431814 57584YDB2 2017-12-28 6961352 Refunding Issue 04/18/2007 0 0 0 A 0 0 6961352 0 0 0 143408 0 0 6796804 21140 0 2017 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 X 2 25639 Market Price 0 1 0 Form 990, Part VI, Section A, Line 2 Alexandra Bartsch (Board Chairman) - Sister of Christian Fisher (Board Member). Form 990, Part VI, Section A, Line 6 Certain responsibilities for institutional oversight are vested in the College's Board of Incorporators. As directed by the By-Laws of the Corporation, persons elected to serve on the Board of Incorporators shall be deemed Members of the Corporation. Form 990, Part VI, Section A, Line 7a Members, defined by the Corporation's By-Laws as Incorporators, have four responsibilities: To elect Incorporators and elect members of the Board of Trustees; To elect a Treasure for the Corporation; To elect a Clerk for the Corporation; To amend, alter, repeal or add to the Corporation By-Laws. Form 990, Part VI, Section B, Line 11b The draft Form 990 and related Schedules are reviewed by a committee consisting of members of the Board of Trustees and the Vice President of Finance. Upon successful review, an approval recommendation is made and a completed copy of the Form is made available to the full Board for final review and approval. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Policy, contained in the Fisher College Employee Handbook, is instituted and reviewed with individuals at the time of hire or beginning of service. Additionally, this policy is periodically reviewed with the College community as a whole through seminars presented by the Office of Human Resources and in conjunction with the College's employment practices attorneys. The Policy itself is regularly reviewed for compliance assessment by Human Resources and College attorneys, and updated accordingly. In the event that breach of policy were presumed or suspected, facts would be examined and evaluated, and determinations would be made as to the extent and breach of policy. Based on the extent of the breach determined, consequences may be levied, up to and including dismissal from the College or legal action. All members of the Board of Trustees are required to sign off on a Board specific Conflict of Interest Policy, and are required to update the Board on any changes in conflict status. Form 990, Part VI, Section B, Line 15 Fisher College policy for determining compensation includes a review of comparable salaries at similar organizations in the general geographic vicinity for all positions within the College, the data of which has been researched through the Office of Human Resources. In the case of the Office of the President, this information is then formally reviewed by a committee, which subsequently makes a recommendation to the Board of Trustees. The Board deliberates and makes a final determination, and recordkeeping is maintained at each level of the process. For all other employees, comparable salaries are reviewed and determinations are made at the supervisory level, with final salary approval residing with the Office of the President; all records are maintained at each juncture of this progression. Comparable salary data is updated on an annual basis, with annual salary reviews for all employees utilizing the updated data. Form 990, Part VI, Section C, Line 19 The College follows all Federal and State requirements and guidelines for open disclosure and public inspection of policies, procedures and public documents. Governing documents, conflict of interest policy and financial statements are posted to the Fisher College website or are made readily available for inspection to the general public at the offices of the College. Copies of any such documents are furnished upon request. Form 990, Part XI, Line 9 Increase in Net Assets with Donor Restrictions - $29,191 Application for Extension of Time to File an Exempt Organization Return (Form 8868) was formally approved. Under IRS Notice CP211A, the College was granted an automatic extension until May 15, 2024.