College Of Our Lady Of The Elms
- Assets
- $76.4m
- Revenue
- $52.6m
- Investments
- $10.6m
- Employees
- 670
- Location
- Chicopee, MA
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 04-2225850
Organization Overview
College Of Our Lady Of The Elms is located in Chicopee, 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 06/2022, College Of Our Lady Of The Elms employed 670 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. College Of Our Lady Of The Elms 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, College Of Our Lady Of The Elms generated $52.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $45.9m during the year ending 06/2022. While expenses have increased by 0.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY.
Describe the Organization's Program Activity:
THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY & HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. DURING THE 2021/2022 SCHOOL YEAR, WE SERVED 1,728 FULL AND PART TIME STUDENTS.
AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. 2,091 PEOPLE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul M Stelzer Chair | OfficerTrustee | 2 | $0 |
Kathleen M Kane Vice-Chair | OfficerTrustee | 2 | $0 |
Dennis Duquette Trustee | Trustee | 2 | $0 |
Virginia Maitland Ssj Trustee | Trustee | 2 | $0 |
Diane Brunelle Trustee | Trustee | 2 | $0 |
Carolyn Jacobs Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corporation Food Services | 6/29/22 | $1,145,123 |
Field Turf Usa Inc Construction Services | 6/29/22 | $468,000 |
Wff Facility Services Facilities Services | 6/29/22 | $1,141,779 |
Assessment Technologies Institute Academic Testing Services | 6/29/22 | $312,415 |
Masslive Media Advertising | 6/29/22 | $196,186 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,204,824 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,032,264 |
| Noncash contributions included in lines 1a–1f | $105,341 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,237,088 |
| Total Program Service Revenue | $39,479,559 |
| Investment income | $795,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $121,845 |
| Net Gain/Loss on Asset Sales | $3,859,889 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,596,460 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,125,949 |
| Grants and other assistance to Foreign Orgs/Individuals | $234,869 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,020,911 |
| Compensation of current officers, directors, key employees. | $700,414 |
| Compensation to disqualified persons | $96,026 |
| Other salaries and wages | $13,379,342 |
| Pension plan accruals and contributions | $474,008 |
| Other employee benefits | $744,557 |
| Payroll taxes | $1,049,494 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,593 |
| Fees for services: Accounting | $116,451 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $29,667 |
| Fees for services: Investment Management | $35,089 |
| Fees for services: Other | $580,507 |
| Advertising and promotion | $379,796 |
| Office expenses | $1,161,388 |
| Information technology | $302,915 |
| Royalties | $0 |
| Occupancy | $886,662 |
| Travel | $272,646 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $255,801 |
| Interest | $516,547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,543,666 |
| Insurance | $0 |
| All other expenses | $2,309,420 |
| Total functional expenses | $45,850,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,107,457 |
| Savings and temporary cash investments | $13,207,123 |
| Pledges and grants receivable | $2,334,451 |
| Accounts receivable, net | $5,183,715 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $360,239 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $469,799 |
| Net Land, buildings, and equipment | $34,029,621 |
| Investments—publicly traded securities | $9,042,005 |
| Investments—other securities | $10,552,231 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $97,836 |
| Total assets | $76,384,477 |
| Accounts payable and accrued expenses | $2,557,621 |
| Grants payable | $0 |
| Deferred revenue | $2,715,868 |
| Tax-exempt bond liabilities | $14,642,828 |
| Escrow or custodial account liability | $180,114 |
| 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 | $16,293 |
| Total liabilities | $20,112,724 |
| Net assets without donor restrictions | $39,045,754 |
| Net assets with donor restrictions | $17,225,999 |
| 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 | $76,384,477 |