The Boston Consortium was established in the fall of 1995 by the Chief Financial Officers of 11 Boston-area colleges and universities. The Consortium is currently comprised of 18 institutions: Babson College, Bentley University, Berklee College of Music, Boston College, Boston University, Brandeis University, Brown University, College of the Holy Cross, Emerson College, Harvard University, Massachusetts Institute of Technology, Northeastern University, Olin College, Rhode Island School of Design, Suffolk University, Tufts University, Wellesley College, and Wheaton College.
The institutions’ diversity is reflected in their operating budgets, which range from approximately $35 million to $1.8 billion, and annual research expenditures, which range from $0 to about $418 million. The combined payroll of TBC Members is $6.3 billion, and the total employee count is approximately 144,000, making the group one of the largest employers in the area. The total student headcount is approximately 185,000. This group’s diversity also stems from the differences in academic focus (business, liberal arts, music, and the arts), student body (single sex, coed), location (rural, suburban, urban), and the age of the institutions (ranging up to almost 400 years old).
A consortium is a group formed to foster collaboration and cooperation in order to maximize the development of business and undertake a cause beyond the resources of any one member; an association of institutions for the purpose of improved and expanded collaboration to achieve mutually beneficial goals.