New England College
- Assets
- $96.2m
- Revenue
- $84.1m
- Investments
- $0.0
- Employees
- 863
- Location
- Henniker, NH
- Founding
- 06/1949
- Data as of
- 06/2022
- EIN
- 02-0223955
Organization Overview
New England College is located in Henniker, NH. The organization was established in 1949. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, New England College employed 863 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New England 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 06/2022, New England College generated $84.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $78.3m during the year ending 06/2022. While expenses have increased by 5.9% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN INDEPENDENT LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLEGE PROVIDES AN EDUCATION THAT DEVELOPS CRITICAL AND CREATIVE THINKING ABILITIES, EFFECTIVE COMMUNICATION SKILLS, AND RESPONSIBLE ACADEMIC AND SOCIAL COMMITMENTS; HISTORICAL AND COMPARATIVE UNDERSTANDING OF THE HUMANITIES, SOCIAL SCIENCES, AND NATURAL SCIENCES; RESPONSIVENESS TO ETHICAL AND HUMANE CONCERNS; RESPECT FOR GENDER, ETHNICITY, GENERATIONAL, RACIAL AND RELIGIOUS IDENTITIES, AND AN APPRECIATION FOR NATURAL ENVIRONMENTS AND WORLD CULTURES; AND A FOUNDATION FOR LIFELONG LEARNING. NEW ENGLAND COLLEGE OFFERS UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS LEADING TO THE DEGREES OF BACHELOR OF ARTS, BACHELOR OF SCIENCE, MASTER OF SCIENCE, MASTER OF EDUCATION AND A DOCTORATE IN HIGHER EDUCATION ADMINISTRATION AND K-12 LEADERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Scourby Trustee, Board Chair | OfficerTrustee | 10 | $0 |
Scott Simpson Trustee, Vice Chair | OfficerTrustee | 2 | $0 |
Tj Whitelaw Trustee, Vice Chair | OfficerTrustee | 2 | $0 |
Ray Apy Trustee | Trustee | 2 | $0 |
Peter Bordes Trustee | Trustee | 2 | $0 |
Christopher Brazill Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southeast Service Corporation Facilities Management | 6/29/23 | $2,273,476 |
Marist College Hosting Services | 6/29/23 | $379,303 |
Apogee Telecom Inc Internet Services | 6/29/23 | $631,041 |
Validated Insights Marketing Services | 6/29/23 | $476,451 |
Chartwell's Dining Services Food Services | 6/29/23 | $2,711,734 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,995,789 |
| Investment income | $402,455 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,763 |
| Net Gain/Loss on Asset Sales | $2,302,140 |
| Net Income from Fundraising Events | $10,456 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,142,963 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $27,097,992 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $791,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,658,709 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,979,751 |
| Payroll taxes | $1,618,304 |
| Fees for services: Management | $197,839 |
| Fees for services: Legal | $61,686 |
| Fees for services: Accounting | $93,261 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,494 |
| Fees for services: Other | $4,885,058 |
| Advertising and promotion | $1,108,974 |
| Office expenses | $1,589,937 |
| Information technology | $1,196,360 |
| Royalties | $0 |
| Occupancy | $3,678,657 |
| Travel | $565,659 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $187,557 |
| Interest | $1,044,174 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,520,047 |
| Insurance | $15,000 |
| All other expenses | $0 |
| Total functional expenses | $78,284,222 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,281,652 |
| Savings and temporary cash investments | $7,035,809 |
| Pledges and grants receivable | $3,765,185 |
| Accounts receivable, net | $1,724,774 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,090,454 |
| Inventories for sale or use | $168,150 |
| Prepaid expenses and deferred charges | $2,284,730 |
| Investments—publicly traded securities | $26,419,565 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $800,737 |
| Other assets | $400,000 |
| Total assets | $96,223,111 |
| Accounts payable and accrued expenses | $3,912,969 |
| Grants payable | $0 |
| Deferred revenue | $1,938,295 |
| Tax-exempt bond liabilities | $27,092,645 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $89,039 |
| Unsecured mortgages and notes payable | $214,442 |
| Other liabilities | $4,507,651 |
| Total liabilities | $37,755,041 |
| Net assets without donor restrictions | $21,605,113 |
| Net assets with donor restrictions | $36,862,957 |
| 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 | $58,468,070 |