Babson College
- Assets
- $1.1b
- Revenue
- $304.1m
- Investments
- $240.6m
- Employees
- 2,032
- Location
- Babson Park, MA
- Founding
- 10/1923
- Data as of
- 06/2021
- EIN
- 04-2103544
Organization Overview
Babson College is located in Babson Park, MA. The organization was established in 1923. 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, Babson College employed 2,032 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Babson 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, Babson College generated $304.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $252.9m during the year ending 06/2021. While expenses have increased by 1.3% 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
BABSON COLLEGE EDUCATES ENTREPRENEURIAL LEADERS WHO CREATE GREAT ECONOMIC AND SOCIAL VALUE EVERYWHERE. BABSON COLLEGE IS A GLOBAL LEADER IN MANAGEMENT EDUCATION WITH APPROXIMATELY 2,350 UNDERGRADUATE AND NEARLY 1,000 GRADUATE ENROLLMENT. OUR INNOVATIVE CURRICULA CHALLENGE STUDENTS TO THINK CREATIVELY AND ACROSS DISCIPLINARY BOUNDARIES. WE CULTIVATE THE WILLINGNESS TO TAKE AND MANAGE RISK, THE ABILITY TO ENERGIZE OTHERS TOWARD A GOAL, AND THE COURAGE TO ACT RESPONSIBLY. OUR STUDENTS UNDERSTAND THAT LEADERSHIP REQUIRES BOTH TECHNICAL KNOWLEDGE AND A SOPHISTICATED APPRECIATION OF INSTITUTIONS, SOCIETIES, CULTURES, AND THE SELF. THEY WELCOME THE CHALLENGE OF LEARNING CONTINUOUSLY AND TAKING RESPONSIBILITY FOR THEIR CAREERS. OUR STUDENTS WILL BE KEY CONTRIBUTORS IN ESTABLISHED ENTERPRISES AS WELL AS EMERGING VENTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BABSON COLLEGE ENROLLS APPROXIMATELY 2,350 UNDERGRADUATE AND NEARLY 1,000 GRADUATE STUDENTS FROM THE UNITED STATES AND MORE THAN 80 COUNTRIES WORLDWIDE. THE COLLEGE OFFERS EDUCATION IN BUSINESS AND LIBERAL ARTS, AND IT GRANTS THE BACHELOR OF SCIENCE DEGREE THROUGH ITS UNDERGRADUATE PROGRAM. THE COLLEGE ALSO GRANTS MASTER OF BUSINESS ADMINISTRATION DEGREES AND CUSTOM MASTER OF SCIENCE DEGREES THROUGH THE F.W. OLIN GRADUATE SCHOOL OF BUSINESS AT BABSON COLLEGE. ADDITIONALLY, BABSON OFFERS DISTINCT EXECUTIVE EDUCATION PROGRAMS TO HELP COMPANIES REACH THEIR STRATEGIC GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Spinelli President | OfficerTrustee | 50 | $681,308 |
Harsha Agadi Trustee (eff. 5/13/22) | Trustee | 1.2 | $0 |
Christine Angelakis Trustee | Trustee | 1.2 | $0 |
Patrick Baird Trustee | Trustee | 1.2 | $0 |
The Honorable Craig Benson Vice Chair, Board Of Trustees | OfficerTrustee | 1.2 | $0 |
Ettore V Biagioni Trustee | Trustee | 1.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiley Edu Llc Advertising | 6/29/22 | $2,998,213 |
Aspire Technology Partners Llc It Consulting | 6/29/22 | $771,652 |
Pricewaterhousecoopers Llp Financial Services | 6/29/22 | $387,930 |
Proquest-csa Llc Database Services | 6/29/22 | $232,799 |
Academy Express Llc Transportation | 6/29/22 | $215,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,979,875 |
| Investment income | $2,997,269 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,810,677 |
| Net Gain/Loss on Asset Sales | $54,064,032 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $304,101,925 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $49,406,789 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,386,796 |
| Compensation to disqualified persons | $1,483,718 |
| Other salaries and wages | $92,486,187 |
| Pension plan accruals and contributions | $6,131,815 |
| Other employee benefits | $11,237,192 |
| Payroll taxes | $6,371,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $281,853 |
| Fees for services: Accounting | $448,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,113,672 |
| Fees for services: Other | $471,773 |
| Advertising and promotion | $4,339,057 |
| Office expenses | $6,286,603 |
| Information technology | $4,900,604 |
| Royalties | $0 |
| Occupancy | $12,601,331 |
| Travel | $1,108,075 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $687,460 |
| Interest | $6,850,881 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,031,435 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $252,934,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,124,263 |
| Savings and temporary cash investments | $5,390,145 |
| Pledges and grants receivable | $48,516,625 |
| Accounts receivable, net | $4,769,406 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,358,044 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,758,168 |
| Investments—publicly traded securities | $460,943,407 |
| Investments—other securities | $240,551,423 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,760,460 |
| Total assets | $1,084,295,364 |
| Accounts payable and accrued expenses | $32,300,113 |
| Grants payable | $0 |
| Deferred revenue | $60,815,466 |
| Tax-exempt bond liabilities | $143,851,833 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,495,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,792,047 |
| Total liabilities | $272,254,459 |
| 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 | $812,040,905 |