Saint Michaels College
- Assets
- $214.9m
- Revenue
- $111.4m
- Investments
- $46.1m
- Employees
- 1,300
- Location
- Colchester, VT
- Founding
- 02/1973
- Data as of
- 06/2021
- EIN
- 03-0179403
Organization Overview
Saint Michaels College is located in Colchester, VT. The organization was established in 1973. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Saint Michaels College employed 1,300 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Saint Michaels 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, Saint Michaels College generated $111.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $104.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Saint Michaels College has awarded 16 individual grants totaling $681,205. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH.
Describe the Organization's Program Activity:
ACADEMIC PROGRAM AND FINANCIAL AID, SEE SCHEDULE O
AUXILIARY ENTERPRISES, SEE SCHEDULE O
STUDENT SERVICES, SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Neuhauser Former President/trustee | 0 | $498,944 | |
Dr Lorraine Sterritt PHD President/trustee | OfficerTrustee | 40 | $381,632 |
Kristen Mcandrew VP Enrollment/marketing | Officer | 40 | $180,668 |
Dawn M Ellinwood VP For Student Affairs | Officer | 40 | $167,987 |
Jeffery Trumbower VP Academic Affairs | Officer | 40 | $167,916 |
Robert Robinson Treasurer/vp For Finance | Officer | 40 | $150,635 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hotchalk Inc Education Consulting | 6/29/21 | $780,568 |
Competitive Computing It Consultants | 6/29/21 | $308,324 |
Kpmg Llp Audit/tax | 6/29/21 | $282,093 |
Shi International It Consultants | 6/29/21 | $196,814 |
Eab Global Recruiting | 6/29/21 | $240,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,195,318 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,152,704 |
| Noncash contributions included in lines 1a–1f | $605,311 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,348,022 |
| Total Program Service Revenue | $91,249,476 |
| Investment income | $1,504,149 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $141,302 |
| Net Gain/Loss on Asset Sales | $1,222,969 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,425,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,896 |
| Grants and other assistance to domestic individuals. | $42,375,482 |
| Grants and other assistance to Foreign Orgs/Individuals | $71,619 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,415,503 |
| Compensation of current officers, directors, key employees. | $367,678 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,723,121 |
| Pension plan accruals and contributions | $534,365 |
| Other employee benefits | $5,372,194 |
| Payroll taxes | $1,701,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147,042 |
| Fees for services: Accounting | $219,426 |
| Fees for services: Lobbying | $1,527 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $346,019 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,555,200 |
| Office expenses | $5,081,743 |
| Information technology | $1,931,730 |
| Royalties | $0 |
| Occupancy | $3,909,499 |
| Travel | $261,411 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,021,269 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,619,105 |
| Insurance | $664,432 |
| All other expenses | $6,217,744 |
| Total functional expenses | $104,245,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,293,513 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,862,471 |
| Accounts receivable, net | $1,668,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,171,509 |
| Inventories for sale or use | $353,207 |
| Prepaid expenses and deferred charges | $2,089,468 |
| Net Land, buildings, and equipment | $82,375,081 |
| Investments—publicly traded securities | $59,709,304 |
| Investments—other securities | $46,074,937 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $256,471 |
| Total assets | $214,854,575 |
| Accounts payable and accrued expenses | $3,419,956 |
| Grants payable | $0 |
| Deferred revenue | $2,724,521 |
| Tax-exempt bond liabilities | $48,162,759 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $62,000 |
| Other liabilities | $7,359,928 |
| Total liabilities | $61,729,164 |
| Net assets without donor restrictions | $83,234,461 |
| Net assets with donor restrictions | $69,890,950 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $214,854,575 |
Grants Awarded
Over the last fiscal year, Saint Michaels College has awarded $75,896 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SSE DBA SAINT ANNE'S SHRINE PURPOSE: SEE PART IV | $65,896 |
Burlington, VT PURPOSE: SEE PART IV | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Saint Michaels College has recieved totaling $49,100.
| Awarding Organization | Amount |
|---|---|
Kilkea Foundation Inc New York, NY PURPOSE: TUITION | $49,100 |
Endowment Analysis
| Beg. Balance | $77,654,938 |
| Earnings | $25,767,599 |
| Admin Expense | $353,499 |
| Net Contributions | $3,340,987 |
| Other Expense | $378,138 |
| Grants | $2,999,947 |
| Ending Balance | $103,031,940 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Brandeis University Waltham, MA | $1,811,655,582 | $399,602,478 |
Bar Ilan University In Israel New York, NY | $542,311,841 | $462,229,998 |
Long Island University Brookville, NY | $765,840,212 | $417,090,254 |
Worcester Polytechnic Institute Worcester, MA | $1,164,375,963 | $384,496,935 |