Who Profits From Springfield, MA's Springfield College--Conclusion

Like the Springfield, Massachusetts-based Western New England University [WNE], the "non-profit" Springfield College in Springfield has included on its board of trustees, in recent years an executive of the Travelers Insurance Companies.

In addition, the Springfield College board of trustees in recent years (like the board of directors of the Springfield, Massachusetts-based MassMutual) has also included on its board of trustees a former CEO of the UK's Cadbury PLC.

And also sitting next to these folks on the Springfield College board of trustees in recent years have been Wellesley College's director of athletics, the president of the Sisters of Providence Health Systems, the president of the Medshadow Foundation, a senior vice-president of Morgan Stanley, the Shields Health care Group's director of real estate and facilities, Pine Manor College's vice-president for Student Services Network, the former vice-president of State Street's Global Investors Service and the president and CEO of the Springfield, Massachusetts-based Naismith Memorial Basketball Hall of Fame, John Doleva.

According to its Form 990 financial filing for 2019, the federal tax-exempted Springfield College vocational training institution of "higher education" (or "hire education/indoctrination", depending on your philosophical/political point of view) collected over $4.3 million in investment income between July 1, 2019 and June 30, 2020, from the over $110 million it had invested in publicly-traded securities and other securities during that same period.

In addition, a real estate holding company, Hickory Street Development LCC, is indicated as a "related organization" of Springfield College.

Yet between July 1, 2019 and June 30, 2020, Springfield College's total revenues of over $159.5 million was around $3 million less than the $162.6 million which Springfield College spent. And during this same period, the net assets of Springfield College decreased from $170 million to around $163 million--although it collected $117 .6 million from student tuition and fees between July 1, 2019 and June 30, 2020, and still possessed over $80.8 million in endowment funds on June 30, 2020.

One reason Springfield College's expenses exceeded its revenues between July 1, 2019 and June 30, 2020--besides it having spent $2,264,134 of its revenues on inflated total annual compensations for its "current officers and key employees" (including the $757,004 total annual compensation it paid to Springfield College's president)--is that during this same period Springfield College paid $8,393,390 to the Aramark Corporation for "dining services" and $1,625,960 to Mountain View Landscaping & Lawn for "construction." (end of article)