Saint Michaels College
- Assets
- $200.6m
- Revenue
- $109.4m
- Investments
- $47.0m
- Employees
- 1,186
- Location
- Colchester, VT
- Founding
- 02/1973
- Data as of
- 06/2022
- 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 06/2022, Saint Michaels College employed 1,186 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 06/2022, Saint Michaels College generated $109.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $108.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 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 $623,005. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OTO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVACEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH.
Describe the Organization's Program Activity:
ACADEMIC PROGRAM AND FINANCIAL AID, SEE SCH O
AUXILIARY ENTERPRISES, SEE SCH O
STUDENT SERVICES, SEE SCH O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Lorraine Sterritt PHD President/trustee | OfficerTrustee | 40 | $426,035 |
Ms Patricia A Casey Chair Of The Board | Trustee | 7 | $0 |
Mr Mark S Dalton Vice Chairs Of The Board | Trustee | 5 | $0 |
Ms Maureen K Usifer Vice Chairs Of The Board | Trustee | 10 | $0 |
Rev Richard N Berube Sse Trustee | Trustee | 2 | $0 |
Rev Msgr Bernard W Bourgeois Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Communication Advert/marketing | 6/29/22 | $872,487 |
Casella Construction Inc Construction | 6/29/22 | $863,538 |
Integration Partners Corp Network | 6/29/22 | $484,871 |
Art & Science Group Llc Educational Consult | 6/29/22 | $356,590 |
The Royal Group Inc Facilities Security | 6/29/22 | $463,460 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,246,434 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,538,709 |
| Noncash contributions included in lines 1a–1f | $148,022 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,785,143 |
| Total Program Service Revenue | $88,968,024 |
| Investment income | $3,646,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $139,255 |
| Net Gain/Loss on Asset Sales | $2,445,057 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,405,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,000 |
| Grants and other assistance to domestic individuals. | $42,434,042 |
| Grants and other assistance to Foreign Orgs/Individuals | $490,665 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,548,056 |
| Compensation of current officers, directors, key employees. | $413,419 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,468,745 |
| Pension plan accruals and contributions | $528,104 |
| Other employee benefits | $5,037,023 |
| Payroll taxes | $1,776,875 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $165,623 |
| Fees for services: Accounting | $205,000 |
| Fees for services: Lobbying | $1,525 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $622,012 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,508,488 |
| Office expenses | $6,215,558 |
| Information technology | $1,966,166 |
| Royalties | $0 |
| Occupancy | $4,344,414 |
| Travel | $1,507,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,913,382 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,922,261 |
| Insurance | $757,368 |
| All other expenses | $6,649,454 |
| Total functional expenses | $108,104,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,389,501 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,547,292 |
| Accounts receivable, net | $1,800,827 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,319,230 |
| Inventories for sale or use | $324,661 |
| Prepaid expenses and deferred charges | $2,383,867 |
| Net Land, buildings, and equipment | $77,962,397 |
| Investments—publicly traded securities | $50,603,596 |
| Investments—other securities | $47,009,196 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $262,219 |
| Total assets | $200,602,786 |
| Accounts payable and accrued expenses | $3,637,087 |
| Grants payable | $0 |
| Deferred revenue | $2,954,395 |
| Tax-exempt bond liabilities | $45,482,453 |
| 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 | $0 |
| Other liabilities | $5,204,677 |
| Total liabilities | $57,278,612 |
| Net assets without donor restrictions | $78,178,476 |
| Net assets with donor restrictions | $65,145,698 |
| 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 | $200,602,786 |
Grants Awarded
Over the last fiscal year, Saint Michaels College has awarded $42,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SSE DBA SAINT ANNE'S SHRINE PURPOSE: SEE PART IV | $32,000 |
ANEW PLACE INC PURPOSE: SEE PART IV | $10,000 |