President & Fellows Of Middlebury College
- Assets
- $2.0b
- Revenue
- $387.9m
- Investments
- $1.3b
- Employees
- 4,369
- Location
- Middlebury, VT
- Founding
- 05/1944
- Data as of
- 06/2021
- EIN
- 03-0179298
Organization Overview
President & Fellows Of Middlebury College is located in Middlebury, VT. The organization was established in 1944. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, President & Fellows Of Middlebury College employed 4,369 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. President & Fellows Of Middlebury 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 & Fellows Of Middlebury College generated $387.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $342.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, President & Fellows Of Middlebury College has awarded 45 individual grants totaling $6,108,629. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A GLOBAL LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE, GRADUATE, AND SPECIALIZED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION REPRESENTS THE EXPENSES FOR THE EDUCATIONAL PROGRAMS. THE PROGRAMS ARE COMPRISED OF STUDENTS WHO ARE FULL TIME ON THE MIDDLEBURY VT CAMPUS PLUS THE STUDENTS WHO ARE ATTENDING THE STUDY ABROAD AND SUMMER PROGRAMS. A BACHELORS DEGREE AND A MASTERS IN LANGUAGE AND ENGLISH ARE THE PRIMARY DEGREES GRANTED. THE MONTEREY CA CAMPUS OFFERS GRADUATE DEGREES IN PROGRAMS OF STUDY IN TRANSLATION, INTERPRETATION AND LANGUAGE EDUCATION AND INTERNATIONAL POLICY MANAGEMENT.
AUXILIARY ENTERPRISES REPRESENT EXPENSES OF DORMITORIES, AND THEEXPENSES AND REVENUE FROM RECREATIONAL FACILITIES AND FOOD SERVICES.ALSO INCLUDED IS THE GRANT COMMITMENT TO SUPPORT THE BRIDGE FOR THETOWN OF MIDDLEBURY.
ACADEMIC SUPPORT REPRESENTS SPONSORED ACTIVITIES EXPENSES INCURRED IN SUPPORT OF THE EDUCATIONAL ACTIVITIES FOR ENROLLED STUDENTS. GRANTS INCLUDE SUPPORT TO OTHER ORGANIZATIONS, FOUNDATIONS, AND RESEARCH INSTITUTIONS.
STUDENT SERVICES AND FINANCIAL AID REPRESENTS EXPENSES INCURRED IN THE SUPPORT OF THE ENROLLED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie L Patton President | OfficerTrustee | 40 | $694,174 |
George C Lee II Chair - Charter Trustee | Trustee | 1 | $0 |
Karen A Stolley Vice Chair-Charter Trust | Trustee | 1 | $0 |
William F Truscott Vice Chair-Charter Trust | Trustee | 1 | $0 |
Belinda Badcock Term Trustee | Trustee | 1 | $0 |
Zachary A Bourque Alumni Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Naylor & Breen Builders Inc Construction | 6/29/22 | $11,092,163 |
Voith & Mactavish Architects Architecture | 6/29/22 | $1,524,504 |
Premier Coach Co Inc Transportation | 6/29/22 | $889,698 |
Hp Cummings Construction Co Construction | 6/29/22 | $758,129 |
Burton F Clark Inc Construction | 6/29/22 | $608,741 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,739,863 |
| Investment income | $75,482,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $41,339 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,748,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $387,918,222 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $73,964,377 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,066,660 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,188,646 |
| Compensation to disqualified persons | $108,959 |
| Other salaries and wages | $117,487,870 |
| Pension plan accruals and contributions | $13,051,382 |
| Other employee benefits | $25,720,037 |
| Payroll taxes | $7,710,243 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $322,817 |
| Fees for services: Accounting | $418,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,121,708 |
| Fees for services: Other | $0 |
| Advertising and promotion | $699,053 |
| Office expenses | $714,579 |
| Information technology | $3,049,297 |
| Royalties | $0 |
| Occupancy | $12,157,704 |
| Travel | $639,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $176,033 |
| Interest | $9,214,058 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,239,333 |
| Insurance | $2,437,609 |
| All other expenses | $0 |
| Total functional expenses | $342,014,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,347,166 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,332,419 |
| Accounts receivable, net | $4,595,260 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,546,019 |
| Inventories for sale or use | $626,836 |
| Prepaid expenses and deferred charges | $3,281,459 |
| Investments—publicly traded securities | $207,730,501 |
| Investments—other securities | $1,327,375,165 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,766,745 |
| Total assets | $1,994,350,713 |
| Accounts payable and accrued expenses | $44,104,535 |
| Grants payable | $0 |
| Deferred revenue | $15,310,363 |
| Tax-exempt bond liabilities | $283,680,693 |
| Escrow or custodial account liability | $5,323,375 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $16,845,000 |
| Other liabilities | $41,546,746 |
| Total liabilities | $406,810,712 |
| 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 | $1,587,540,001 |
Grants Awarded
Over the last fiscal year, President & Fellows Of Middlebury College has awarded $1,496,273 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SOUTHERN MAINE PURPOSE: Research Grant | $41,584 |
UNIVERSITY OF VERMONT PURPOSE: Research Grant | $24,109 |
RUTGERS UNIVERSITY PURPOSE: Research Grant | $15,492 |
ARIZONA STATE UNIVERSITY PURPOSE: Research Grant | $26,113 |
OREGON HEALTH & SCIENCE UNIVERSITY PURPOSE: Research Grant | $3,079 |
ITHRIVE GAMES PURPOSE: Research Grant | $32,652 |