2024-05-15T15:54:46-05:00 2023-06-30 390859910 BAKER TILLY US LLP 1 HIGHWOOD DRIVE TEWKSBURY MA 01876 990 2022-07-01 474425987 COLLEGE FOR SOCIAL INNOVATION INC COLL 6179100071 89 SOUTH STREET 407 BOSTON MA 02111 ERIC SCHWARZ CHIEF EXECUTIVE OFFICER 6179100071 2024-05-15 1 ERIC SCHWARZ 999009999 1 MATTHEW KALIL CPA MBA P01517069 9785575300 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ERIC SCHWARZ 89 SOUTH STREET 407 BOSTON MA 02111 2279825 0 X COLLEGEFORSOCIALINNOVATION.ORG X 2015 MA TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 8 7 53 241 0 0 1130777 1106357 1330965 1170215 1409 3253 0 0 2463151 2279825 0 0 0 0 1480163 1516020 0 0 129755 995443 990806 2475606 2506826 -12455 -227001 783072 2326951 78677 1849539 704395 477412 X TO EDUCATE AND INSPIRE THE NEXT GENERATION OF PROBLEM SOLVERS. 0 0 1879736 1170215 COLLEGE FOR SOCIAL INNOVATION (CFSI) IS A NEW COLLEGE PARTNERSHIP MODEL WITH A MISSION OF EDUCATING AND INSPIRING THE NEXT GENERATION OF PROBLEM SOLVERS. OUR MODEL PROVIDES OPPORTUNITIES FOR DIVERSE COHORTS OF COLLEGE STUDENTS TO EARN A FULL SEMESTER OF CREDIT FOR WELL-SUPPORTED FELLOWSHIPS IN NON-PROFITS, THE PUBLIC SECTOR, AND SOCIAL MISSION BUSINESSES. STUDENTS LEARN THROUGH ACTIVE MENTORING, JOB-RELATED ASSIGNMENTS, AND RELATED SEMINARS AND REFLECTION ACTIVITIES, ALL OF WHICH WILL HELP THEM BUILD CAREER-BASED COMPETENCIES, SOCIAL AND EMOTIONAL SKILLS, AND NETWORKS. STUDENTS SERVE FOUR DAYS A WEEK WITH HOST ORGANIZATIONS, WORKING UNDER A DEDICATED MENTOR AND ALSO PARTICIPATE IN A FOUNDATION COURSE OFFERED ONE EVENING, "THE SOCIAL INNOVATOR'S TOOL BOX, AND ENGAGE IN A SKILL-BUILDING AND REFLECTIVE COURSE ON FRIDAYS CALLED "BECOMING A PROBLEM SOLVER." PARTICIPATING STUDENTS EARN A FULL 16 CREDITS (OR EQUIVALENT) FROM THEIR HOME COLLEGE WITH NO ADDITIONAL TUITION OR FEES. HOST ORGANIZATIONS ARE ABLE TO INVEST IN FUTURE TALENT THROUGH THE OPPORTUNITY TO MENTOR AND DEVELOP A STUDENT FELLOW. OUR LONG-TERM GOAL IS TO CREATE A BIGGER, BETTER PREPARED, AND MORE DIVERSE TALENT PIPELINE FOR THE SOCIAL SECTOR.IN THE DYNAMIC LANDSCAPE OF EDUCATION AND PROFESSIONAL DEVELOPMENT, OUR STUDENT RESULTS AND MENTOR EVALUATIONS IN FISCAL YEAR 2023 SPEAK TO THE TRANSFORMATIVE IMPACT WE'VE HAD ON OUR FELLOWS AND HOST ORGANIZATIONS. DURING THE FALL OF 2022 AND SPRING OF 2023, OUR FELLOWS SHOWED SIGNIFICANT GROWTH IN 23 OUT OF 24 WORKFORCE-RELATED COMPETENCIES, THE BIGGEST IMPROVEMENTS LARGELY BEING IN SKILLS EMPLOYERS VALUE MOST, INCLUDING COMMUNICATION, CRITICAL THINKING, AND TEAMWORK ACROSS DIFFERENCES. OF OUR OWN TARGET COMPETENCIES, OUR STUDENTS SHOWED THE MOST NOTABLE GROWTH IN PERSUASIVE STORYTELLING (36% GROWTH) AND HUMAN-CENTERED PROBLEM SOLVING (21% GROWTH). THE RESULTS FROM MENTOR EVALUATIONS CONFIRMED THAT MENTORS AGREE WITH THEIR FELLOWS ON THESE GAINS 93% OF OUR FELLOWS EARNED FROM THEIR MENTORS' IMPRESSIVE GRADES OF 88% (B+) OR HIGHER ON A COMPREHENSIVE 20-PART SKILLS ASSESSMENT, SURPASSING OUR INITIAL GOAL OF 85%. ONE MENTOR'S COMMENT ILLUSTRATES THE VALUE FELLOWS BRING TO HOST ORGANIZATIONS: "THIS PROGRAM FACILITATED CAPACITY-BUILDING AND ENHANCED MY MANAGERIAL SKILLS. I WHOLEHEARTEDLY RECOMMEND IT TO ANYONE SEEKING MEANINGFUL PROFESSIONAL DEVELOPMENT." IN A LANDSCAPE WHERE ONLY 36% OF BUSINESS LEADERS BELIEVE THAT TRADITIONAL COLLEGES ADEQUATELY PREPARE GRADUATES FOR THE WORKFORCE, OUR HIGH-IMPACT EXPERIENTIAL LEARNING MODEL IS PROVIDING UNPARALLELED PROFESSIONAL DEVELOPMENT AND INDISPENSABLE LIFE SKILLS. IN THE FALL OF 2022, WE OFFICIALLY ANNOUNCED THE LAUNCH OF SEMESTER FOR IMPACT (SFI) WITH ITS FIRST INAUGURAL COHORT IN SEPTEMBER 2023. LIKE OUR FLAGSHIP PROGRAM, SEMESTER IN THE CITY (SITC), SFI OFFERS A 400-HOUR INTERNSHIP LEARNING EXPERIENCE FOR ACADEMIC CREDITS. UNLIKE SITC, STUDENTS MATCHED WITH A HOST/INTERNSHIP SITE NEAR THEIR COLLEGE CAMPUS. WE RECEIVED A $100,000 DONATION TO HELP LAUNCH THE PROGRAM BEGINNING WITH HIRING THE DIRECTOR OF SEMESTER FOR IMPACT IN AUGUST 2022 AND SUBSEQUENTLY MANAGER OF SEMESTER FOR IMPACT IN JUNE 2023. THUS FAR, WE HAVE SECURED UNIVERSITY OF CENTRAL MISSOURI, UNIVERSITY OF NEW HAMPSHIRE, UNIVERSITY OF MASSACHUSETTS DARTMOUTH, AND DELAWARE STATE UNIVERSITY AS FOUNDING PARTNERS. IN FALL 2023, WE ENROLLED 5 STUDENTS FROM THE UNIVERSITY OF VERMONT. IN MAY 2023, AMERICORPS ACCEPTED OUR APPLICATION TO BECOME A NATIONAL DIRECT RECIPIENT IN SUPPORT OF OUR MODEL AND GROWTH. THE AWARD SPANS 3 YEARS, BEGINNING JULY 1, 20243, AMOUNTING TO $2.7 MILLION TO SUPPORT 450 STUDENTS; $904,583 PER YEAR AND 150 STUDENTS PER YEAR. THE AWARD SUPPORTS STAFF SALARY AND FRINGE, STUDENTS LIVING STIPEND AND TRANSPORTATION, AND OTHER OPERATING EXPENSES SUCH AS TECHNOLOGY AND CONSULTING FEES. THE AWARD WILL CONTINUE TO BUILD FINANCIAL SUSTAINABILITY FOR COLLEGE FOR SOCIAL INNOVATION THROUGH EARNED REVENUE, PHILANTHROPY, AND GOVERNMENT AWARDS. 1879736 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 5 0 1 53 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 MA X THE ORGANIZATION 6179100071 89 SOUTH STREET 407 BOSTON MA 02111 TULAINE MONTGOMERY DIRECTOR 5.00 X 0 0 0 LISA BUTLER DIRECTOR 5.00 X 0 0 0 JAMES ATWOOD DIRECTOR 5.00 X 0 0 0 ADRIA GOODSON DIRECTOR 5.00 X 0 0 0 MARQUIS TAYLOR DIRECTOR 5.00 X 0 0 0 DENNIS HANNO DIRECTOR 5.00 X 0 0 0 TOM CRAIG TREASURER 5.00 X X 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 40.00 X X 193738 0 23475 DOLITA CATHCART CHIEF PROGRAM OFFICER (SINCE 7/5/22) 40.00 X 57401 0 690 EDITH BUHS CHIEF PROGRAM OFFICER (UNTIL 6/30/22) 40.00 X 92129 0 12246 343268 0 36411 1 0 1 0 0 1106357 89832 1106357 PROGRAM SERVICE FEES 611310 1170215 1170215 1170215 3253 3253 2279825 1170215 0 3253 337913 287439 16896 33578 974229 744975 159403 69851 110122 86018 17166 6938 93756 73727 12753 7276 27000 27000 30786 10170 16135 4481 8939 7849 1050 40 50987 21525 27782 1680 53719 47784 5732 203 7194 5884 1233 77 1233 1009 211 13 4611 3700 534 377 28564 22920 3311 2333 STUDENT HOUSING 584001 380700 200508 2793 PROGRAM STUDENT COSTS 183549 182313 1121 115 OTHER EXPENSE 6500 6500 BAD DEBT 3723 3723 2506826 1879736 497335 129755 104517 276479 314471 201105 275355 102171 79269 29348 15798 10949 9460 4849 0 1712999 783072 2326951 54185 58766 24492 44350 0 0 1746423 78677 1849539 X 561284 472412 143111 5000 704395 477412 783072 2326951 -227001 18 0 X X 0 1 X 1 0 X 536016 1178644 971452 1130777 1106357 4923246 782198 1126260 1049014 1330965 1170215 5458652 1318214 2304904 2020466 2461742 2276572 10381898 164100 576171 210451 556610 767270 2274602 0 164100 576171 210451 556610 767270 2274602 8107296 34 85 754 1409 3253 5535 34 85 754 1409 3253 5535 1318248 2304989 2021220 2463151 2279825 10387433 0.78050 0.77350 0.00050 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15798 10949 4849 4849 OPERATING LEASE LIABILITY 1746423 1746423 X 2305034 25209 25209 2279825 0 2279825 2532035 25209 25209 2506826 0 2506826 PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON TRADE OR BUSINESS PROFITS GENERATED BY ACTIVITIES RELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. THE ORGANIZATION MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES FOR PROFITS GENERATED FROM TRADE OR BUSINESS ACTIVITIES UNRELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. AS OF JUNE 30, 2023, MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS NOT GENERATED ANY UNRELATED BUSINESS TAXABLE INCOME. THE ORGANIZATION ASSESSES THE RECORDING OF UNCERTAIN TAX POSITIONS BY EVALUATING THE MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT REQUIREMENTS A TAX POSITION MUST MEET BEFORE BEING RECOGNIZED AS A BENEFIT IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNCERTAIN TAX POSITIONS AS A COMPONENT OF INCOME TAX EXPENSE, IF ANY, IN ITS STATEMENT OF ACTIVITIES. THE ORGANIZATION HAS NOT RECOGNIZED ANY LIABILITIES FOR UNCERTAIN TAX POSITIONS OR UNRECOGNIZED BENEFITS AS OF JUNE 30, 2023. THE ORGANIZATION DOES NOT EXPECT ANY MATERIAL CHANGE IN UNCERTAIN TAX BENEFITS WITHIN THE NEXT 12 MONTHS. X X X 0 0 0 0 0 0 0 0 0 ERIC SCHWARZ CEO/PRESIDENT 193738 0 0 0 0 0 0 0 23475 0 217213 0 0 0 X 1 48952 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FULL 990 IS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ONCE EACH CALENDAR YEAR, EMPLOYEES, BOARD MEMBERS AND ANYONE WITH FIDUCIARY DUTIES WITHIN THE ORGANIZATION THAT CAN INFLUENCE ACTIONS OF THE COLLEGE FOR SOCIAL INNOVATION (CFSI) MUST DISCLOSE POTENTIAL CONFLICT THAT MIGHT ARISE BETWEEN CFSI AND ANY POTENTIAL AREAS. FORM 990, PART VI, SECTION B, LINE 15 FOUNDING CEO ERIC SCHWARZ AND THE TWO OTHER FOUNDING MEMBERS OF THE BOARD PUT SOME CAREFUL THOUGHT INTO STARTING COMPENSATION FOR SCHWARZ, AN ACCOMPLISHED SOCIAL ENTREPRENEUR WITH APPROXIMATELY 30 YEARS OF RELEVANT EXPERIENCE. TAKEN INTO ACCOUNT WERE SEVERAL FACTORS, INCLUDING: -SCHWARZ'S PAST EXPERIENCE AND COMPENSATION AS A SOCIAL SECTOR LEADER -SCHWARZ'S LEADERSHIP AS A FULL-TIME UNCOMPENSATED VOLUNTEER FOR NINE MONTHS (LATE 2014 TO AUGUST 2015) DEVELOPING THE COLLEGE FOR SOCIAL INNOVATION IDEA AND BUSINESS PLAN -INFORMAL BENCHMARKS OF OTHER SOCIAL ENTREPRENEURS WITH TWO TO THREE DECADES OF RELEVANT EXECUTIVE EXPERIENCE STARTING NEW SOCIAL SECTOR ORGANIZATIONS -INFORMAL BENCHMARKING OF CEO COMPENSATION FOR NEW ENTREPRENEURIAL VENTURES IN THE HIGHER EDUCATION WORLD BASED ON THIS INFORMAL BENCHMARKING AND SCHWARZ'S PAST COMPENSATION AND EXPERIENCE, SCHWARZ PROPOSED A SALARY THAT WAS A 10% REDUCTION FROM HIS COMPENSATION AT CITIZEN SCHOOLS AND COMMITTED TO TAKE NO COLA OR MERIT RAISE FOR AT LEAST TWO YEARS AS THE ORGANIZATION SCALED FROM START-UP TO AN ANTICIPATED BUDGET OF APPROXIMATELY $3 MILLION IN FY18, THE ORGANIZATION'S THIRD YEAR OF OPERATIONS. OUTSIDE BOARD MEMBERS TOM CRAIG AND TULAINE MONTGOMERY DISCUSSED THE SALARY AND APPROVED IT AS PART OF APPROVING THE ORGANIZATION'S FY16 BUDGET. PRIOR TO ANY FUTURE CHANGES TO THE COMPENSATION, COLLEGE FOR SOCIAL INNOVATION PLANS TO CREATE A FORMAL FINANCE AND BUDGET COMMITTEE CHARGED WITH, AMONG OTHER THINGS, REVIEWING AND APPROVING EXECUTIVE COMPENSATION, BASED ON PERFORMANCE AND INDUSTRY NORMS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT FOR THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED DURING THE YEAR.