CAMBRIDGE COLLEGE INC

EIN: 510163080 501(c)(3) Education

BOSTON, MA

Total Revenue
$384,361
Total Expenses
$983,244
Total Assets
$8,335,603
Net Assets
$5,164,176
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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
MA
Principal Officer
DENNIS MADIGAN
Phone
6178730449
Tax Period
2024-09-01 to 2025-08-31

CAMBRIDGE COLLEGE INC, founded in 1974, is a small nonprofit in the Education sector that reported $384K in total revenue in fiscal year 2024. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $983K exceeded revenue, resulting in a 156% operating deficit.

Mission

TO PROVIDE ACADEMICALLY EXCELLENT, TIME-EFFICIENT AND COST-EFFECTIVE HIGHER EDUCATION FOR A DIVERSE POPULATION OF WORKING ADULTS FOR WHOM THOSE OPPORTUNITIES MAY HAVE BEEN LIMITED OR DENIED.

Program Service Accomplishments

Program 1
Expenses: $52,837 Revenue: $78,288

ON JULY 1, 2024, CAMBRIDGE COLLEGE CONTRIBUTED SUBSTANTIALLY ALL OF ITS ASSETS TO BPU ACQUISITION, LLC D/B/A CAMBRIDGE COLLEGE AT BAY PATH UNIVERSITY, A MASSACHUSETTS LIMITED LIABILITY COMPANY AND...

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ON JULY 1, 2024, CAMBRIDGE COLLEGE CONTRIBUTED SUBSTANTIALLY ALL OF ITS ASSETS TO BPU ACQUISITION, LLC D/B/A CAMBRIDGE COLLEGE AT BAY PATH UNIVERSITY, A MASSACHUSETTS LIMITED LIABILITY COMPANY AND PUBLIC CHARITY THAT IS WHOLLY CONTROLLED BY THE MASSACHUSETTS NONPROFIT CORPORATION THAT OWNS AND OPERATES BAY PATH UNIVERSITY. AS A RESULT OF THIS TRANSACTION, CAMBRIDGE COLLEGE CEASED DOING BUSINESS AND IS IN THE PROCESS OF DISSOLVING THE CORPORATE LEGAL ENTITY AND WINDING UP ITS AFFAIRS. THE TRANSACTION IS SUBJECT TO FINAL REGULATORY APPROVALS OF THE DEPARTMENT OF EDUCATION AND MASSACHUSETTS ATTORNEY GENERAL, AMONG OTHERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $78,288
Investment Income $306,073
Other Revenue $0
TOTAL REVENUE $384,361

Expense Breakdown

Grants Paid $0
Salaries & Benefits $574,558
Fundraising Expenses $17,292
Program Expenses $52,837
Other Expenses $408,686
TOTAL EXPENSES $983,244

Year-over-Year Comparison

2024 2023 Change
Revenue $384,361 $19,375,287 -1.0%
Expenses $983,244 $33,701,062 -1.0%
Net Income $-598,883 $-14,325,775 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
95
Volunteers
2

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$244,670
Total Directors
3
$244,670
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENNIS MADIGAN PRESIDENT & VP OF FINANCE & ADMIN. 50.00
Officer Director
$234,996 $9,674 $244,670
KEVIN MCCALL CHAIR 1.50
Officer Director
$0 $0 $0
STEPHANIE BROWNE VICE CHAIR 1.00
Officer Director
$0 $0 $0
SANDRA D BRIDWELL PROFESSOR 0.00
Highest
$176,799 $11,600 $188,399
BARBARA K REID PROFESSOR 0.00
Highest
$160,973 $18,031 $179,004
MASSOMEH NAMAVAR PROFESSOR 0.00
Highest
$153,953 $10,902 $164,855
DEBORAH J MERRIMAN PROFESSOR 0.00
Highest
$154,611 $5,345 $159,956
LUCILIA M VALERIO PROFESSOR 0.00
Highest
$145,264 $17,727 $162,991
STEPHEN E HEALEY FORMER INTERIM PRESIDENT 0.00
$386,090 $16,856 $402,946
DEBORAH C JACKSON FORMER PRESIDENT 0.00
$335,372 $0 $335,372
LAURETTA D SIGGERS FORMER VP OF HR & TALENT DEV. 0.00
$236,069 $11,293 $247,362
NITI SETH FORMER PROVOST 0.00
$235,793 $10,358 $246,151
THOMAS J CAHILL JR - FORMER VP OF INSTITUTIONAL ADVANCEMENT 0.00
$121,705 $6,490 $128,195
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $384,361 $983,244 $8,335,603 $-598,883
2024 $19,375,287 $33,701,062 $9,490,560 $-14,325,775
2023 $35,337,289 $39,512,844 $110,868,797 $-4,175,555
2022 $31,368,471 $40,781,120 $66,113,929 $-9,412,649
2021 $41,615,020 $42,594,798 $83,415,943 $-979,778
2020 $31,052,296 $38,878,588 $85,856,712 $-7,826,292
2019 $26,598,478 $34,084,385 $86,138,396 $-7,485,907
2018 $24,712,688 $33,336,712 $92,483,700 $-8,624,024
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