Nichols College
- Assets
- $114.7m
- Revenue
- $60.7m
- Investments
- $0.0
- Employees
- 662
- Location
- Dudley, MA
- Founding
- 01/1943
- Data as of
- 06/2022
- EIN
- 04-2104778
Organization Overview
Nichols College is located in Dudley, MA. The organization was established in 1943. 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, Nichols College employed 662 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nichols 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, Nichols College generated $60.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $59.8m during the year ending 06/2022. While expenses have increased by 1.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NICHOLS COLLEGE IS COMMITTED TO PROVIDING THE BEST CAREER-FOCUSED BUSINESS EDUCATION IN NEW ENGLAND. MORE THAN 94 PERCENT OF GRADUATES ARE EMPLOYED IN WORK RELATED TO THEIR MAJOR.A DYNAMIC BUSINESS PROGRAM IS PARALLELED BY COMPREHENSIVE PROGRAMS IN THE LIBERAL ARTS. ON THE GRADUATE LEVEL, THIS INCLUDES NICHOLS MBA AND MASTER OF SCIENCE DEGREES IN ACCOUNTING, ORGANIZATIONAL LEADERSHIP AND COUNTERTERRORISM, IN ADDITION, ACCELERATED AND ONLINE FORMATS ARE OFFERRED TO ADULT POPULATIONS. THE FRIENDLY, NURTURING CAMPUS IN DUDLEY, MASS. OFFERS A BROAD SPECTRUM OF CO-CURRICULAR ACTIVITIES AND A FULL RANGE OF ATHLETIC OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NICHOLS COLLEGE PROVIDES EDUCATION TO APPROXIMATELY 1,055 DEGREE-SEEKING STUDENTS INCLUDING 1,037 FULL TIME STUDENTS, LEADING TO ASSOCIATES, BACHELORS, AND MASTERS DEGREES, PRIMARILY IN BUSINESS. APPROXIMATELY 748 OF THE 1,037 FULL TIME DAY STUDENTS ARE PROVIDED WITH FOOD AND HOUSING. THE COLLEGE ADDITIONALLY PROVIDES ADMISSIONS SERVICES, FINANCIAL AID SERVICES, ATHLETIC OPPORTUNITIES, RESIDENCE LIFE SUPPORT, CAREER PLACEMENT, NEW STUDENT ORIENTATIONS, HEALTH SERVICES, AND REGISTRAR SERVICES TO THE STUDENT BODY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Engelkemeyer Former President | 37.5 | $393,040 | |
Glenn Sulmasy President | Officer | 37.5 | $245,466 |
William Pieczynski VP Advancement | Officer | 37.5 | $213,714 |
William Boffi Former VP Enrollment | 37.5 | $195,604 | |
Robert Lavigne VP Of Operations | Officer | 37.5 | $174,962 |
Mauri Pelto Associate Provost & Special Advisor To Pres | Officer | 37.5 | $172,716 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lauring Construction Company Inc Construction | 6/29/22 | $3,384,376 |
American Food & Vending Corp Dining Services | 6/29/22 | $2,689,284 |
Eagle Cleaning Corp Maintenance Services | 6/29/22 | $719,775 |
Northeast Security Inc Security Services | 6/29/22 | $465,127 |
Juster Pope Frazier Llc Professional Services | 6/29/22 | $480,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,080 |
| Related organizations | $0 |
| Government grants | $2,663,387 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,854,955 |
| Noncash contributions included in lines 1a–1f | $37,471 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,538,422 |
| Total Program Service Revenue | $52,895,611 |
| Investment income | $1,281,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$364 |
| Net Income from Fundraising Events | $8,046 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,723,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,594,361 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $947,160 |
| Compensation of current officers, directors, key employees. | $947,160 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,638,375 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,368,663 |
| Payroll taxes | $1,047,579 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $290,300 |
| Fees for services: Accounting | $60,086 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,293 |
| Fees for services: Other | $636,035 |
| Advertising and promotion | $488,034 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,470,748 |
| Travel | $1,102,469 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $556,347 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,658,760 |
| Insurance | $397,564 |
| All other expenses | $905,120 |
| Total functional expenses | $59,805,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,210,008 |
| Savings and temporary cash investments | $294,529 |
| Pledges and grants receivable | $1,446,531 |
| Accounts receivable, net | $2,090,543 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,943,129 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $67,572,562 |
| Investments—publicly traded securities | $37,815,967 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,348,229 |
| Total assets | $114,721,498 |
| Accounts payable and accrued expenses | $2,428,995 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,982,162 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,749,665 |
| Total liabilities | $27,160,822 |
| Net assets without donor restrictions | $53,409,041 |
| Net assets with donor restrictions | $34,151,635 |
| 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 | $114,721,498 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Nichols College has recieved totaling $268,693.
| Awarding Organization | Amount |
|---|---|
Fred C And Katherine B Andersen Foundation Bayport, MN PURPOSE: GENERAL SUPPORT | $175,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $27,250 |
Coghlin Family Foundation Westborough, MA PURPOSE: EDUCATION | $20,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $15,034 |
Fels Family Foundation Worcester, MA PURPOSE: GENERAL | $10,000 |
Deloitte Foundation Stamford, CT PURPOSE: FY'21 MATCHING GIFTS | $7,500 |
Endowment Analysis
| Beg. Balance | $32,100,561 |
| Earnings | -$4,068,217 |
| Net Contributions | $699,994 |
| Other Expense | $1,397,622 |
| Ending Balance | $27,334,716 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain College Inc Burlington, VT | $240,784,775 | $119,718,125 |
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Curry College Milton, MA | $220,105,546 | $116,112,495 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
Regis College Weston, MA | $109,512,086 | $107,679,867 |
St Francis College Brooklyn, NY | $411,618,421 | $89,705,791 |
Utica University Utica, NY | $156,931,603 | $105,142,781 |
College Of Mount Saint Vincent Riverdale, NY | $139,449,317 | $110,010,056 |
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |