The College awarded $3.35 million in scholarship aid and paid out $1.81 million in student employment. The combined total of $5.16 million represents 15% of the total operating budget.
Cash and investments combined totaled $21.2 million as of the end of the year.
The change in net assets from the FY 2022 Audited Financial Statements was $25,321. Total net assets are $23.9 million as of the end of the year.
A planned two-year project to replace the College’s exterior windows began in the Spring of 2022 and will continue through the Fall of 2023. The first phase of the project will address the South and West sides of the building. The project is being financed by $8 million in MDFA Series 2021 tax-exempt bonds. Interest only payments are due for the first three years. The interest rate is fixed at 2.44% for the first ten years.
The following are financial highlights from the year:
$45.9 million in Total Assets
$23.9 million in Net Assets
$4.90 million in Government Contracts
$3.35 million in Scholarship Aid
$1.81 million in Student Employment
For detailed information about our financial statements, please contact Daniel Brent, Vice President of Finance and Operations, at 617-564-9336 or firstname.lastname@example.org.
Please click here for a copy of our Consolidated Financial Statements for FY22.
Please click here for a copy of our Consolidated Financial Statements for FY21.
Please click here for a copy of our Consolidated Financial Statements for FY20.
Please click here for a copy of our Consolidated Financial Statements for FY19.