Emerson College
- Assets
- $1.1b
- Revenue
- $275.7m
- Investments
- $59.9k
- Employees
- 3,600
- Location
- Boston, MA
- Founding
- 01/1959
- Data as of
- 06/2021
- EIN
- 04-1286950
Organization Overview
Emerson College is located in Boston, MA. The organization was established in 1959. 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, Emerson College employed 3,600 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Emerson 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, Emerson College generated $275.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $275.2m during the year ending 06/2021. While expenses have increased by 4.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE STUDENTS TO BECOME LEADERS IN COMMUNICATION AND THE ARTS (CONTINUED ON SCHEDULE O)AND TO ADVANCE SCHOLARSHIP AND CREATIVE WORK THAT BRINGS INNOVATION, DEPTH AND DIVERSITY TO THESE DISCIPLINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERSON COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE PROGRAMS CHALLENGING STUDENTS TO THINK AND COMMUNICATE WITH CLARITY, SUBSTANCE AND INSIGHT. THE CURRICULUM INTEGRATES COMMUNICATION WITH LIBERAL ARTS AND EMPHASIZES A GLOBAL OUTLOOK AND PRACTICAL EXPERIENCE TO HELP DEVELOP THE INHERENT CAPACITIES OF EACH STUDENT. THE COLLEGE EDUCATES APPROXIMATELY 4,100 UNDERGRADUATE AND 1,700 GRADUATE STUDENTS ANNUALLY - THIS YEAR FROM 49 U.S. STATES, WASHINGTON, D.C., PUERTO RICO, THE US VIRGIN ISLANDS, AND 73 COUNTRIES. THE COLLEGE HAS MORE THAN 500 FULL AND PART-TIME FACULTY.
AUXILIARY ENTERPRISES PROVIDE SERVICES FOR STUDENTS TO ENSURE THEY ARE APPROPRIATELY SUPPORTED. THESE SERVICES PREDOMINANTLY INCLUDE ROOM, BOARD, AND BOOKSTORE OPERATIONS. THEATRE OPERATIONS ARE ALSO CLASSIFIED AS AN AUXILIARY ENTERPRISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Gilligan Interim President | OfficerTrustee | 40 | $632,465 |
Eric Alexander Board Member(thru 08/2021)/chair | OfficerTrustee | 2 | $0 |
Vincent J Di Bona Vice Chairman | OfficerTrustee | 2 | $0 |
Albert M Jaffe Vice Chairman | OfficerTrustee | 2 | $0 |
Steven Samuels Vice Chairman | OfficerTrustee | 2 | $0 |
Kevin Bright Vice-Co Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grant Thornton Llp Audit/tax Services | 6/29/22 | $294,824 |
Storbeck Search Llc Recruiting Services | 6/29/22 | $293,354 |
Jackson Lewis Pc Legal Services | 6/29/22 | $262,179 |
Holland And Knight Llp Legal Services | 6/29/22 | $257,085 |
Real Magic Llc Artist Services | 6/29/22 | $211,075 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,669,799 |
| Investment income | $11,183,021 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,604,000 |
| Net Rental Income | -$114,935 |
| Net Gain/Loss on Asset Sales | $1,584,831 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,696,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $59,443,655 |
| Grants and other assistance to Foreign Orgs/Individuals | $186,431 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,362,938 |
| Compensation to disqualified persons | $38,102 |
| Other salaries and wages | $85,183,220 |
| Pension plan accruals and contributions | $706,003 |
| Other employee benefits | $12,657,538 |
| Payroll taxes | $6,138,341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $957,388 |
| Fees for services: Accounting | $313,613 |
| Fees for services: Lobbying | $36 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $501,898 |
| Fees for services: Other | $1,509,922 |
| Advertising and promotion | $1,334,607 |
| Office expenses | $1,176,536 |
| Information technology | $3,235,622 |
| Royalties | $0 |
| Occupancy | $8,810,265 |
| Travel | $238,878 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $680,708 |
| Interest | $22,895,195 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,252,237 |
| Insurance | $5,259,089 |
| All other expenses | $0 |
| Total functional expenses | $275,231,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,625 |
| Savings and temporary cash investments | $80,999,043 |
| Pledges and grants receivable | $4,130,576 |
| Accounts receivable, net | $2,950,003 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,371,821 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,190,297 |
| Investments—publicly traded securities | $260,155,478 |
| Investments—other securities | $59,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,989,151 |
| Total assets | $1,139,244,716 |
| Accounts payable and accrued expenses | $42,379,950 |
| Grants payable | $0 |
| Deferred revenue | $21,764,828 |
| Tax-exempt bond liabilities | $524,897,652 |
| 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 | $24,158,788 |
| Total liabilities | $613,201,218 |
| 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 | $526,043,498 |