President And Trustees Of Bates College
- Assets
- $890.1m
- Revenue
- $194.0m
- Investments
- $351.3m
- Employees
- 2,119
- Location
- Lewiston, ME
- Founding
- 04/1993
- Data as of
- 06/2021
- EIN
- 01-0211781
Organization Overview
President And Trustees Of Bates College is located in Lewiston, ME. The organization was established in 1993. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, President And Trustees Of Bates College employed 2,119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. President And Trustees Of Bates College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, President And Trustees Of Bates College generated $194.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $162.3m during the year ending 06/2021. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BATES COLLEGE IS A PRIVATE, HIGHLY SELECTIVE, RESIDENTIAL COLLEGE DEVOTED TO UNDERGRADUATE STUDY IN THE TRADITIONAL DISCIPLINES OF THE LIBERAL ARTS AND SCIENCES AS WELL AS IN EMERGING INTERDISCIPLINARY PROGRAMS.
Describe the Organization's Program Activity:
HIGHER EDUCATION: BATES COLLEGE OFFERS A RIGOROUS LIBERAL ARTS EDUCATION THAT IS DISTINCTIVE IN ITS EMPHASIS ON STUDENT RESEARCH, A SIGNATURE THESIS OR CAPSTONE EXPERIENCE, IMMERSIVE SHORT TERM EXPERIENCE, PURPOSEFUL WORK PROGRAM, AND OPPORTUNITIES FOR COMMUNITY-ENGAGED LEARNING. A 10-1 STUDENT-FACULTY RATIO MAKES POSSIBLE CLOSE COLLABORATIONS IN CLASSROOM AND LABORATORY. A BATES EDUCATION AIMS TO PREPARE GRADUATES WHO STRIVE TO EMBODY THE FOLLOWING QUALITIES, CAPABILITIES, AND INCLINATIONS: KNOWLEDGE, PROBLEM SOLVING, ANALYTIC STRENGTH; DISCERNMENT AND PERSUASION; INTELLECTUAL CURIOSITY; AND SOCIAL COMMITMENT AND INTEGRITY. CO-CURRICULAR LIFE IS RICH WITH MOST STUDENTS PARTICIPATING IN ONE OF APPROXIMATELY 120 STUDENT-RUN CLUBS AND ORGANIZATIONS. TYPICALLY, TWO-THIRDS OF BATES' APPROXIMATELY 1,821 STUDENTS ON CAMPUS STUDY ABROAD AT SOME POINT DURING THEIR ACADEMIC CAREERS AT BATES AND CLOSE TO 80 PERCENT OF STUDENTS PARTICIPATE IN INTERNSHIPS. MORE THAN TWO-THIRDS OF RECENT GRADUATES ENROLL IN GRADUATE STUDY WITHIN 10 YEARS AFTER GRADUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Clayton Spencer President | OfficerTrustee | 40 | $621,537 |
Sarah Pearson Vice President, College Advancement | Officer | 40 | $357,082 |
Geoffrey Swift VP Fin & Admin, Treasurer | Officer | 40 | $359,195 |
Joshua Mcintosh VP Student Affairs, Dean Of Students | Officer | 40 | $301,904 |
Malcolm Hill VP For Academic Affairs And Dean Of The Faculty | Officer | 40 | $279,193 |
Michael Murray Professor | 40 | $236,796 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consigli Construction Construction | 6/29/22 | $19,479,210 |
Hall Capital Partners Llc Investment Management | 6/29/22 | $1,072,723 |
Damon Mechanical Services Inc Mechanical Contractor | 6/29/22 | $611,381 |
Lakeside Concrete Cutting Inc Concrete Contractor | 6/29/22 | $467,013 |
Randall Swan Building & Remodeling | 6/29/22 | $397,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,121,583 |
| Investment income | $4,536,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$48,032 |
| Net Gain/Loss on Asset Sales | $35,865,469 |
| Net Income from Fundraising Events | $11,904 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $193,955,130 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $35,631,769 |
| Grants and other assistance to Foreign Orgs/Individuals | $303,813 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,395,245 |
| Compensation to disqualified persons | $246,761 |
| Other salaries and wages | $56,201,210 |
| Pension plan accruals and contributions | $5,738,398 |
| Other employee benefits | $9,196,403 |
| Payroll taxes | $3,874,532 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $477,229 |
| Fees for services: Accounting | $151,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,640,272 |
| Fees for services: Other | $7,617,519 |
| Advertising and promotion | $0 |
| Office expenses | $2,736,615 |
| Information technology | $2,674,866 |
| Royalties | $0 |
| Occupancy | $5,187,990 |
| Travel | $164,177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $189,716 |
| Interest | $4,201,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,371,125 |
| Insurance | $921,137 |
| All other expenses | $0 |
| Total functional expenses | $162,267,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,545 |
| Savings and temporary cash investments | $22,638,775 |
| Pledges and grants receivable | $35,379,407 |
| Accounts receivable, net | $2,239,731 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,384,973 |
| Inventories for sale or use | $508,144 |
| Prepaid expenses and deferred charges | $3,486,892 |
| Investments—publicly traded securities | $189,230,578 |
| Investments—other securities | $351,329,444 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,308,711 |
| Total assets | $890,076,823 |
| Accounts payable and accrued expenses | $27,484,870 |
| Grants payable | $0 |
| Deferred revenue | $2,535,454 |
| Tax-exempt bond liabilities | $138,631,074 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,038,715 |
| Total liabilities | $206,690,113 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $683,386,710 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bowdoin College Brunswick, ME | $3,297,186,000 | $359,057,000 |
President & Trustees Of Colby College Waterville, ME | $2,242,751,000 | $290,124,000 |
President And Trustees Of Bates College Lewiston, ME | $890,076,823 | $193,955,130 |
Saint Anselm College Manchester, NH | $372,219,645 | $145,234,388 |
Franklin Pierce University Rindge, NH | $92,753,056 | $85,806,266 |
New England College Henniker, NH | $96,223,111 | $84,142,963 |
Unity Environmental University New Gloucester, ME | $90,752,974 | $78,824,720 |
Colby-Sawyer College New London, NH | $134,968,854 | $69,063,751 |
Thomas College Waterville, ME | $83,830,985 | $31,052,244 |
College Of The Atlantic Bar Harbor, ME | $141,928,490 | $28,002,873 |
Maine College Of Art Portland, ME | $47,873,713 | $26,110,572 |
Thomas More College Of Liberal Arts Incorporated Merrimack, NH | $7,414,400 | $5,988,598 |
Magdalen College Warner, NH | $3,658,951 | $2,671,615 |
Keene Endowment Association Keene, NH | $16,865,844 | $3,071,802 |
Maine Wesleyan Board Of Education Topsham, ME | $1,191,719 | $42,530 |
New England Baptist Bible College Bangor, ME | $0 | $0 |