Wellesley College
- Assets
- $4.1b
- Revenue
- $515.5m
- Investments
- $2.2b
- Employees
- 2,890
- Location
- Wellsley, MA
- Founding
- 04/1946
- Data as of
- 06/2021
- EIN
- 04-2103637
Organization Overview
Wellesley College is located in Wellsley, MA. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Wellesley College employed 2,890 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellesley 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, Wellesley College generated $515.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $323.4m during the year ending 06/2021. While expenses have increased by 2.6% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN EXCELLENT LIBERAL ARTS EDUCATION FOR WOMEN WHO WILL MAKE A DIFFERENCE IN THE WORLD.
Describe the Organization's Program Activity:
OUTSTANDING EDUCATION: WELLESLEY COLLEGE IS COMMITTED TO ENSURING THAT OUR EXCELLENT LIBERAL ARTS CURRICULUM IS BOTH INTELLECTUALLY AND CULTURALLY BROAD TO PREPARE OUR GRADUATES FOR THEIR LIVES AFTER COLLEGE. WELLESLEY OFFERS MORE THAN 50 DEPARTMENTAL AND INTERDEPARTMENTAL MAJORS TO APPROXIMATELY 2,200 STUDENTS. THE AVERAGE CLASS SIZE IS 17 TO 20 STUDENTS WITH A 7:1 STUDENT-FACULTY RATIO.
WELLELSEY COLLEGE HAS LONG TRADITION OF NEED-BLIND ADMISSION FOR U.S. CITIZENS AND PERMANENT RESIDENTS, MAKING ADMISSION DECISIONS WITHOUT REGARD TO A FAMILY'S FINANCIAL SITUATION. THROUGH ITS FINANCIAL AID PROGRAM, THE COLLEGE MEETS 100 PERCENT OF A STUDENT'S DEMONSTRATED FINANCIAL NEED. RESOURCES DEDICATED TO THE FINANCIAL AID PROGRAM ENSURE THAT WELLESLEY IS SUCCESSFUL IN RECRUITING AND ENROLLING A STRONG AND DIVERSE STUDENT BODY WITH CONTINUED ATTENTION TO ISSUES OF FINANCING AND AFFORDABILITY. APPROXIMATELY 60 PERCENT OF THE STUDENT BODY RECEIVES FINANCIAL AID AND WELLESLEY IS WIDELY RECOGNIZED AS ONE OF THE TOP 10 COLLEGES IN THE COUNTRY FOR STUDENTS GRADUATING WITH THE LEAST AMOUNT OF DEBT.
SPONSORED RESEARCH: WELLESLEY PRIDES ITSELF ON ITS COMMITMENT TO SUPPORTING THE TEACHER-SCHOLAR IDEAL, ENABLING OUR GIFTED FACULTY MEMBERS TO INTEGRATE THEIR LOVE OF TEACHING AND WORKING CLOSELY WITH STUDENTS WITH THEIR PURSUIT OF THE ADVANCEMENT OF KNOWLEDGE THROUGH THEIR WORLD-CLASS RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah F Kuenstner Chief Investment Officer | Officer | 60 | $987,300 |
Rose C Carpenter Managing Director To Deputy Cio | 60 | $742,932 | |
Ray Oquendo Chief Operating Officer | 60 | $658,698 | |
Paula A Johnson President | OfficerTrustee | 70 | $604,385 |
Greg Rozolsky Investment Director | 60 | $363,198 | |
Karen Petrulakis General Counsel | 60 | $345,787 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Turner Construction Company Construction | 6/29/21 | $47,925,955 |
Ameresco Inc Engineering Services | 6/29/21 | $11,159,007 |
Suffolk Construction Company Inc Construction | 6/29/21 | $4,011,743 |
Dellbrook Construction Llc Construction | 6/29/21 | $3,086,545 |
Clinical Research Sequencing Platform Health&medical Serv | 6/29/21 | $2,517,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,903,375 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,280,440 |
| Noncash contributions included in lines 1a–1f | $21,274,545 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,183,815 |
| Total Program Service Revenue | $152,659,403 |
| Investment income | $6,283,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,814,974 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $515,515,442 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $64,974,222 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,943,040 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,644,859 |
| Compensation of current officers, directors, key employees. | $2,065,551 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,826,623 |
| Pension plan accruals and contributions | $11,524,311 |
| Other employee benefits | $15,427,418 |
| Payroll taxes | $7,053,082 |
| Fees for services: Management | $3,886,785 |
| Fees for services: Legal | $630,045 |
| Fees for services: Accounting | $544,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $167,873 |
| Fees for services: Other | $15,865,805 |
| Advertising and promotion | $0 |
| Office expenses | $4,906,811 |
| Information technology | $4,600,763 |
| Royalties | $2,185 |
| Occupancy | $4,957,172 |
| Travel | $842,663 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,445 |
| Interest | $15,988,420 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,740,899 |
| Insurance | $1,988,356 |
| All other expenses | $12,864,912 |
| Total functional expenses | $323,437,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $212,220,452 |
| Pledges and grants receivable | $49,226,481 |
| Accounts receivable, net | $3,861,427 |
| Loans from Officers, Directors, or Controlling Persons | $300,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,472,471 |
| Inventories for sale or use | $509,676 |
| Prepaid expenses and deferred charges | $6,250,188 |
| Net Land, buildings, and equipment | $528,787,598 |
| Investments—publicly traded securities | $1,106,045,000 |
| Investments—other securities | $2,211,855,804 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,125,529,097 |
| Accounts payable and accrued expenses | $145,889,638 |
| Grants payable | $956,822 |
| Deferred revenue | $9,350,561 |
| Tax-exempt bond liabilities | $230,495,877 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $235,713,199 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $35,321,379 |
| Total liabilities | $657,727,476 |
| Net assets without donor restrictions | $990,577,846 |
| Net assets with donor restrictions | $2,477,223,775 |
| 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 | $4,125,529,097 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Wellesley College has recieved totaling $37,756.
| Awarding Organization | Amount |
|---|---|
Favrot Fund Houston, TX PURPOSE: WELLESLEY IS AN ALL-WOMENS INSTITUTION OF HIGHER LEARNING DEVOTED TO PROVIDING AN EXCELLENT EDUCATION AND DEVELOPING LEADERSHIP SKILLS. THE PURPOSE OF THE GRANT IS TO AUGMENT THE FAVROT FINANCIAL AID FUND TO SUPPORT STUDENT SCHOLARSHIPS. | $15,000 |
Dorothy D Ruggles Trust V940 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $7,744 |
Amy And Steve Unfried Foundation Wilson, WY PURPOSE: CHARITABLE | $5,000 |
Reamer Family Foundation Boston, MA PURPOSE: EDUCATION | $5,000 |
Angelo H Vergobbi Irrev Trust Ua 7-31-79 Dallas, TX PURPOSE: SCHOLARSHIP | $2,500 |
Hyman Levine Family Foundation Ldor Vdor Beverly Hills, CA PURPOSE: CHARITY/EDUCATION | $1,000 |
Endowment Analysis
| Beg. Balance | $2,285,397,056 |
| Earnings | $1,026,472,781 |
| Net Contributions | $21,401,639 |
| Other Expense | $52,076,639 |
| Grants | $44,409,376 |
| Ending Balance | $3,236,785,461 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Providence College Providence, RI | $748,292,244 | $299,300,711 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |