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Wentworth Institute of Technology

 550 Huntington Avenue
 Boston, MA 02115
[P] (617) 9894000
[F] --
www.wit.edu
cochranc@wit.edu
Lori Friedman
INCORPORATED: 1904
 Printable Profile (Summary / Full)
EIN 04-1958460

LAST UPDATED: 01/04/2019
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

Wentworth Institute of Technology (Wentworth) provides a comprehensive, interdisciplinary, project-based education in engineering, technology, design, and management that integrates classroom laboratory, studio, cooperative and experiential learning and results in a career-ready, skilled professional and engaged citizen. Wentworth’s vision is to be a student-centered institution of academic excellence that offers high-quality undergraduate, graduate and lifelong-learning programs; embraces a culture of innovation and creativity; develops internal community and serves society through urban engagement; and fosters economic growth by educating students to become highly skilled professionals.

Mission Statement

Wentworth Institute of Technology (Wentworth) provides a comprehensive, interdisciplinary, project-based education in engineering, technology, design, and management that integrates classroom laboratory, studio, cooperative and experiential learning and results in a career-ready, skilled professional and engaged citizen. Wentworth’s vision is to be a student-centered institution of academic excellence that offers high-quality undergraduate, graduate and lifelong-learning programs; embraces a culture of innovation and creativity; develops internal community and serves society through urban engagement; and fosters economic growth by educating students to become highly skilled professionals.

FinancialsMORE »

Fiscal Year July 01, 2016 to June 30, 2017
Projected Income $120,334,496.00
Projected Expense $116,993,817.00

ProgramsMORE »

  • Center for Community and Learning Partnerships

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Wentworth Institute of Technology (Wentworth) provides a comprehensive, interdisciplinary, project-based education in engineering, technology, design, and management that integrates classroom laboratory, studio, cooperative and experiential learning and results in a career-ready, skilled professional and engaged citizen. Wentworth’s vision is to be a student-centered institution of academic excellence that offers high-quality undergraduate, graduate and lifelong-learning programs; embraces a culture of innovation and creativity; develops internal community and serves society through urban engagement; and fosters economic growth by educating students to become highly skilled professionals.

Background Statement

At his death in 1903, businessman Arioch Wentworth left the bulk of his estate, estimated at $7 million in value, to establish an industrial school in Boston. On September 25, 1911, Wentworth opened its doors as a technical school to 242 students. Wentworth became a degree-granting institution in 1957, awarding its first associate's degrees, and offered baccalaureate-level degrees starting in 1970. Wentworth changed from an all-commuter college to a residential campus in the 1960s with the addition of several residence halls. In 1972, the Institute admitted its first women students, with an initial male-female ratio of 353 to 1. Before 1977, the lower and upper divisions operated as two separate schools; in that year these two schools merged and Wentworth Institute of Technology was born. In 1993, Wentworth introduced a five-year electromechanical engineering program.

Within the past decade, Wentworth divided its academic structure into four distinct colleges: the College of Architecture, Design and Construction Management; the College of Arts and Sciences; the College of Engineering and Technology; and the College of Professional and Continuing Education. In November 2009, Wentworth announced that it had become a master's degree-granting institution, with the creation and accreditation of its Master of Architecture (M.Arch.) program. Currently, Wentworth offers six different master’s degree programs in Architecture, Construction Management, Facility Management, and Technology Management.


Impact Statement

The education and career success of our students and alumni are among Wentworth's highest strategic priorities. Wentworth continues to receive recognition for many of its accomplishments in these areas. For example, the Institute has been ranked by U.S. News & World Report in three categories as part of the publication’s 2017 “Best Colleges” rankings: “Regional Universities (57 out of 187);” “Best Undergraduate Engineering Programs (where doctorate not offered)(42 out of 198);” and “Best Universities (North) for Veterans (34 out of 52).” For the tenth year in a row, the Princeton Review has named Wentworth to its "Best Regional Colleges" category for the Northeastern United States.

In addition, the Brooking Institution has ranked Wentworth among the top seven in the nation in respect to alumni/ae occupational earnings power, with a value-added score of 100/100. In relation to value-added earnings, Wentworth is among the top 2% of colleges in the U.S. with a score of 92/100. CBS Money Watch lists Wentworth as a “hidden gem” among the top leaders and college superstars. Fortune Magazine noted that Wentworth is #21 in terms of the 20-year net return on investment, including both private and public (with out-of-state tuition) institutions. Most recently, the Institute was ranked in the top 5% among 866 private institutions in PayScale's 2017 College Return on Investment Report.

Wentworth has been accepted into the Colleges of Distinction, a select group of U.S. schools that have demonstrated leadership and excellence in undergraduate education. The Colleges of Distinction are recognized for providing valuable life experience through innovative programs, service learning, internships, and other experiential opportunities. During the last fiscal year, Wentworth secured gifts and commitments of more than $8.9 million from over 3,000 donors, including alumni/ae, friends, parents, trustees, corporations, foundations, and other organizations.


Needs Statement

Student access and success is our highest funding priority. In order to achieve these goals, Wentworth continually seeks funding from individuals, corporations, foundations, associations, and governmental agencies. Specifically, we seek financial support for the following priorities and initiatives: student financial aid; capital projects, including new buildings, renovations, and equipment support; programmatic support for areas including the Center for Cooperative Education and Career Development, the Center for Academic Excellence, the Center for Community and Learning Partnerships, our Study Abroad Programs, and our Student Emergency Fund; faculty and student research; as well as endowed professorships. In addition, we seek unrestricted support through the Wentworth Fund to enable the Institute to cover operational expenses or areas of pressing student and faculty needs. 

CEO Statement

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Board Chair Statement

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Geographic Area Served

NATIONAL
INTERNATIONAL
City of Boston- Citywide (Indiv. neighborhoods also listed)
GREATER BOSTON REGION, MA
Students come to Wentworth primarily from Massachusetts and other New England states. We serve students from most of the states in the country, and dozens of countries around the world.

Organization Categories

  1. Education - Higher Education
  2. -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Center for Community and Learning Partnerships

As part of its mission to educate through experiential learning, Wentworth Institute of Technology is committed to making a difference in the community with the Center for Community and Learning Partnerships (“the Center”). Since 2005, the Center has served to positively transform Boston neighborhoods by engaging neighbors, community leaders, and community organizations in a number of ways. The Center provides a forum for community voices to come forward, offers several educational and college access programming for Boston youth, and facilitates service-learning projects for faculty, staff, students, and alumni. Wentworth has a long and rich history of building capacity for community organizations and offering professional services that address neighborhood needs and solve community challenges as prioritized by community members.

Budget  $450,000.00
Category  Education, General/Other Postsecondary Education
Population Served College Aged (18-26 years) Adolescents Only (13-19 years) Poor,Economically Disadvantaged,Indigent
Program Short-Term Success 
Short term goals include the following achievements:
 
Close the test score gap for Boston students by increasing access to high-quality SAT prep courses;
Increasing the number of Boston youth who enroll in college courses for credit while in high school by preparing studetns for college through an authentic classroom experience and the opportunity to earn college credit; and
Ensure the retention and success of Boston students who choose to pursue higher education by increasing the number of Boston high school students who apply, are accepted to, and matriculate at Wentworth Institute of Technology or other colleges and universities. 
Program Long-Term Success  For high school students participating in the Boston Pipeline Initiative or other programs offered to local youth through the Center for Community and Learning Partnerships, ideal long-term goals include increasing the number of students who apply to, are accepted at, matriculate, successfully graduate from Wentworth Institute of Technology or other four year colleges and universities, and enter into the workforce or graduate school.
Program Success Monitored By  Our Director of Accreditation and Institutional Assessment continues to oversee program evaluation and assessment, oversees the development and administration of data collection and tracking instruments for formative and summative program evaluation via qualitative and quantitative data collection. We continue to track the following key indicators and outcomes: engagement/participation; program completion; student-staff interactions; improvement on practice test scores; student satisfaction; students using available campus resources; improvement in non-cognitive measures of self-efficacy and coping mechanisms; student grades, cumulative GPAs, and retention rates; college enrollment and graduation rates. Actual tools use include student surveys and interviews, test results, student grades, communication with high school teachers and counselors, as well as Wentworth faculty and staff. 
Examples of Program Success 
The following are three examples of the success of three of the Center's programs that fall under the Boston Pipeline Initiative:
 
SAT Prep Program: Since its inception in 2014, our SAT Prep program has helped students improve their test scores by an average of 110 to 130 points. This level of improvement helps students feel more confident and comfortable about their post-secondary options, overcome significant social-emotional barriers, and start to achieve their goals in college and beyond.
 
Dual Enrollment Program: Over the past two years, the Wentworth first year course pass rate for participating high school students has increased from 73% to 95%, and more than 50% of participating students have been eligible to receive college credit. 
RAMP: For our summer bridge program for underserved minority students from Boston who matriculate at Wentworth, the first to second year retention rates for these students (89%) has consistently been higher than those for all Wentworth students (84%).

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Dr. Zorica Pantic
CEO Term Start July 2006
CEO Email panticz@wit.edu
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? Yes
Name of state association Association of Independent Colleges and Universities in Massachusetts

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 481
Number of Part Time Staff 275
Number of Volunteers 0
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 28
Asian American/Pacific Islander: 31
Caucasian: 356
Hispanic/Latino: 21
Native American/American Indian: 0
Other: 48
Other (if specified): --
Gender Female: 186
Male: 298
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Yes
Organization has Strategic Plan? Yes
Years Strategic Plan Considers 5
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy --
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Mr. Michael Masterson
Board Chair Company Affiliation ALD NanoSolutions, Inc.
Board Chair Term Sept 2015 - Aug 2021
Board Co-Chair Mr. Keith J. Peden
Board Co-Chair Company Affiliation Raytheon
Board Co-Chair Term Sept 2015 - Aug 2017

Board Members

Name Company Affiliations Status
Mr. George A. Abe Emerald BioSystems Voting
Mr. Mark Bamforth Brammer Bio Voting
Mr. John W. Blaisdell United Parcel Service Voting
Mr. David Blittersdorf AllEarth Renewables Voting
Mr. Jerome H. Casey Sekisui Diagnostics Voting
Mr. Peter Davoren Turner Construction Company Voting
Mr. Daniel T. Flatley The Flatley Foundation Voting
Mr. Stephen F. Fusi New Wealth Advisors Voting
Mr. Paul A. Guarracino J.M. Electrical Company, Inc. Voting
Mr. Ryan E. Hutchins Gilbane Building Company Voting
Mr. Kenneth Isaacs Graycor Voting
Mr. Gregory B. Janey Janey Construction Management and Consulting, Inc. Voting
Mr. Anil Jha HydroNovation Voting
Mr. Douglas J. Karam KVAssociates, Inc. Voting
Ms. Christine Keville Keville Enterprises, Inc. Voting
Mr. Lawrence LaFreniere Electric Supply Center Voting
Mr. John M. Lynch Staples, Inc. Voting
Ms. Ivana Magovčević-Liebisch Teva Pharmaceutical Industries, Ltd. Voting
Mr. Gary J. Miller NELCO Worldwide Voting
Mr. Robert C. Murray BOND, Inc. Voting
Mr. Adam Palmer Wentworth Alumni Association Voting
Ms. Zorica Pantić Wentworth Institute of Technology Voting
Mr. John Pini Bentley University Voting
Ms. Sylvia T. Price Pitney Bowes Software, Inc. Voting
Ms. Michele A. Whitham Locke Lord, LLP Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 1
Caucasian: 24
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 1
Other (if specified): --
Gender Female: 5
Male: 22
Not Specified 0

Board Information

Board Term Lengths --
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 96%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation Yes

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Fiscal Year July 01, 2016 to June 30, 2017
Projected Income $120,334,496.00
Projected Expense $116,993,817.00
Form 990s

2016 Form 990

2015 Form 990

2014 Form 990

2013 Form 990

Audit Documents

2016 Audited Financials

2015 Audited Financials

2014 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 2014
Total Revenue $115,158,789 $120,538,555 $114,120,282
Total Expenses $114,481,577 $106,792,026 $99,112,837

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 2014
Foundation and
Corporation Contributions
-- -- --
Government Contributions $729,256 $675,516 $589,819
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $729,256 $675,516 $589,819
Individual Contributions $5,204,709 $10,484,947 $2,443,137
Indirect Public Support -- -- --
Earned Revenue $114,835,270 $110,298,340 $98,609,597
Investment Income, Net of Losses $-6,436,382 $-1,144,978 $12,238,689
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind -- -- --
Other $825,936 $224,730 $239,040

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 2014
Program Expense $89,143,550 $84,049,157 $77,789,507
Administration Expense $22,000,004 $20,011,194 $19,142,884
Fundraising Expense $3,338,023 $2,731,675 $2,180,446
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.01 1.13 1.15
Program Expense/Total Expenses 78% 79% 78%
Fundraising Expense/Contributed Revenue 56% 24% 72%

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 2014
Total Assets $353,326,983 $349,958,963 $335,695,129
Current Assets $52,606,652 $51,076,093 $38,783,382
Long-Term Liabilities $131,623,246 $132,373,913 $125,293,699
Current Liabilities $31,739,609 $28,298,134 $34,861,043
Total Net Assets $189,964,128 $189,286,916 $175,540,387

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 2014
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value $90,442,546.00
Spending Policy Percentage
Percentage(If selected) 5.0%
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? Anticipated In 3 Years
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? Yes

Short Term Solvency

Fiscal Year 2016 2015 2014
Current Ratio: Current Assets/Current Liabilities 1.66 1.80 1.11

Long Term Solvency

Fiscal Year 2016 2015 2014
Long-term Liabilities/Total Assets 37% 38% 37%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in charts and graphs are per the organization's audited financials. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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