Five Colleges Incorporated
- Assets
- $35.2m
- Revenue
- $10.0m
- Investments
- $318.0
- Employees
- 111
- Location
- Amherst, MA
- Founding
- 04/1966
- Data as of
- 06/2023
- EIN
- 04-6134696
Organization Overview
Five Colleges Incorporated is located in Amherst, MA. The organization was established in 1966. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2023, Five Colleges Incorporated employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Five Colleges Incorporated 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 06/2023, Five Colleges Incorporated generated $10.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $10.3m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL CONSORTIUM TO SUSTAIN AND ENRICH THE EXCELLENCE OF ITS MEMBERS-AMHERST, HAMPSHIRE, MOUNT HOLYOKE, AND SMITH COLLEGES AND THE UNIVERSITY OF MASSACHUSETTS AMHERST-THROUGH ACADEMIC AND ADMINISTRATIVE COLLABORATION. THE CONSORTIUM FACILITATES INTELLECTUAL COMMUNITIES AND BROAD CURRICULAR AND CO-CURRICULAR OFFERINGS, AFFORDING LEARNING, RESEARCH, PERFORMANCE, AND SOCIAL OPPORTUNITIES THAT COMPLEMENT THE DISTINCTIVE QUALITIES OF EACH INSTITUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES COOPERATIVE PROGRAMS SUCH AS STUDENT INTERCHANGE, LIBRARY DEPOSITORY AND OPEN BORROWING AGREEMENTS, JOINT CURRICULAR PROGRAMS, AND JOINT ADMINISTRATIVE PROGRAMS FOR THE FIVE MEMBER INSTITUTIONS (30,000 STUDENTS & FACULTY).
STUDENT SERVICES PROGRAMS: THE OPERATION OF A FARE-FREE BUS & VAN SYSTEM RUN BY PVTA (990 PART IX LINE 24 B) THAT CARRIES OVER 1,000,000 PASSENGERS ANNUALLY. THIS PRIMARILY BENEFITS STUDENTS AND FACULTY OF MEMBER INSTITUTIONS (1,000,000 RIDERS)
OPERATION OF FIBER OPTIC NETWORK TO CONNECT THE FIVE CAMPUSES WITH HIGH-SPEED BROADBAND INTERNET ACCESS (30,000 STUDENTS & FACULTY SERVED).
JOINT FACULTY APPOINTMENTS AND DEVELOPMENT (30,000 STUDENTS & FACULTY SERVED).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Wingebach President | OfficerTrustee | 2 | $0 |
Kumble Subbaswamy Vice President | OfficerTrustee | 1 | $0 |
Michael Elliot Board Member | Trustee | 1 | $0 |
Kathleen Mccartney Board Member | Trustee | 1 | $0 |
Beverly Daniel Tatum Board Member | Trustee | 1 | $0 |
Sarah Pfatteicher Executive Director/clerk | Officer | 40 | $274,215 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cutler Associates Inc Design And Construction Services | 6/29/17 | $7,036,600 |
Csl Consulting Construction Management | 6/29/17 | $165,606 |
Ernst And Young Us Llp Management Consulting | 6/29/17 | $249,038 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,223 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,473,755 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,624,978 |
| Total Program Service Revenue | $7,849,971 |
| Investment income | $551,064 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,026,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $613,653 |
| Compensation of current officers, directors, key employees. | $613,653 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,139,509 |
| Pension plan accruals and contributions | $172,530 |
| Other employee benefits | $255,170 |
| Payroll taxes | $205,373 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,030 |
| Fees for services: Accounting | $31,359 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,573 |
| Fees for services: Other | $352,152 |
| Advertising and promotion | $3,848 |
| Office expenses | $486,468 |
| Information technology | $354,338 |
| Royalties | $0 |
| Occupancy | $372,520 |
| Travel | $174,512 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,826 |
| Interest | $192,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $604,534 |
| Insurance | $121,881 |
| All other expenses | $0 |
| Total functional expenses | $10,327,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,979,385 |
| Savings and temporary cash investments | $5,051,493 |
| Pledges and grants receivable | $41,769 |
| Accounts receivable, net | $343,272 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,321,345 |
| Investments—publicly traded securities | $17,458,454 |
| Investments—other securities | $318 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,196,036 |
| Accounts payable and accrued expenses | $2,000,572 |
| Grants payable | $0 |
| Deferred revenue | $1,037,969 |
| Tax-exempt bond liabilities | $5,496,043 |
| 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 | $0 |
| Total liabilities | $8,534,584 |
| Net assets without donor restrictions | $6,635,230 |
| Net assets with donor restrictions | $20,026,222 |
| 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 | $35,196,036 |