Skidmore College
- Assets
- $987.0m
- Revenue
- $268.7m
- Investments
- $620.7m
- Employees
- 2,834
- Location
- Saratoga Springs, NY
- Founding
- 01/1939
- Data as of
- 05/2022
- EIN
- 14-1338562
Organization Overview
Skidmore College is located in Saratoga Springs, NY. The organization was established in 1939. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Skidmore College employed 2,834 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skidmore 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 05/2022, Skidmore College generated $268.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $229.3m during the year ending 05/2022. While expenses have increased by 4.9% 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.
Since 2015, Skidmore College has awarded 21 individual grants totaling $249,166. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HIGHER EDUCATION
Describe the Organization's Program Activity:
INSTRUCTION AND RESEARCH: INCLUDES ALL EXPENSES FOR ALL ACTIVITIES THAT ARE A PART OF THE COLLEGE'S INSTRUCTIONAL PROGRAM. THE COLLEGE PROVIDES LIBERAL ARTS EDUCATION TO APPROXIMATELY 2650 STUDENTS AND MAINTAINS A STUDENT TO FACULTY RATIO OF APPROXIMATELY 8:1.
STUDENT AID: INCLUDES EXPENSES FOR SCHOLARSHIPS IN THE FORM OF GRANTS TO STUDENTS, RESULTING FROM SELECTION BY THE INSTITUTION FROM A NEEDS-BASED PROGRAM. CURRENTLY, APPROXIMATELY 48% OF SKIDMORE STUDENTS ARE RECEIVING SCHOLARSHIPS, GRANTS, LOANS, AND/OR WORK AWARDS WHICH ARE OFFERED SINGLY OR IN VARIOUS COMBINATIONS.
INSTITUTIONAL SUPPORT: INCLUDES EXPENSES FOR CENTRAL ADMINISTRATIVE LEVEL ACTIVITIES CONCERNED WITH MANAGEMENT OF THE ENTIRE INSTITUTION. ORGANIZATIONAL UNITS INCLUDE FISCAL OPERATIONS, PLANNING AND BUDGETING, HUMAN RESOURCES, PURCHASING, CAMPUS SAFETY, INFORMATION TECHNOLOGY, ETC.
HIGHER EDUCATION: OTHER: INCLUDES STUDENT SERVICES, ACADEMIC SUPPORT AND OTHER AUXILIARY ENTERPRISES. STUDENT SERVICES INCLUDES EXPENSES FOR ORGANIZATIONAL UNITS THAT PROVIDE SUPPORT TO STUDENTS. THESE UNITS INCLUDE HEALTH SERVICES, COUNSELING CENTER, ATHLETICS, INTERFAITH PROGRAMS, ETC. ACADEMIC SUPPORT INCLUDES ALL EXPENSES FOR ALL ACTIVITIES THAT ARE PART OF THE COLLEGE'S ACADEMIC MISSION. AUXILIARY ENTERPRISES INCLUDES EXPENSES FOR ORGANIZATIONAL UNITS THAT EXIST TO FURNISH GOODS OR SERVICES TO STUDENTS, FACULTY AND STAFF, AND THAT CHARGE A FEE DIRECTLY RELATED TO THE COST OF THE GOODS OR SERVICES. FACILITIES INCLUDE TWELVE DORMS AND APARTMENT COMPLEXES PROVIDING HOUSING TO APPROXIMATELY 2150 STUDENTS, TWO DINING HALLS, A BOOKSTORE, SNACK BAR, CHILD CENTER, AND TELEPHONE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Conner President | OfficerTrustee | 35 | $537,853 |
Donna Ng VP For Finance/admin & Treasurer | Officer | 35 | $326,906 |
Mary Lou Bates VP & Dean Admissions & Financial Aid | Officer | 35 | $308,589 |
Cerri Banks VP For Student Affairs | Officer | 35 | $293,107 |
Philip A Glotzbach President (to June) | Officer | 35 | $270,803 |
Joshua Woodfork VP Strategic Plan/inst Diversity | Officer | 35 | $268,232 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mlb Construction Construction Management | 5/30/22 | $22,495,056 |
Payette Associates Inc Architectural Services | 5/30/22 | $1,764,133 |
Sodexo Operations Project Management | 5/30/22 | $1,657,977 |
Collins Mechanical Llc Construction Services | 5/30/22 | $967,227 |
Dis Ocse/study Abroad Tuitions | 5/30/22 | $946,520 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,750 |
| Related organizations | $0 |
| Government grants | $6,752,886 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,702,448 |
| Noncash contributions included in lines 1a–1f | $2,162,378 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,474,084 |
| Total Program Service Revenue | $198,507,964 |
| Investment income | $2,163,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,740,627 |
| Net Income from Fundraising Events | $60,085 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $268,742,242 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,000 |
| Grants and other assistance to domestic individuals. | $64,624,311 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,303,794 |
| Compensation of current officers, directors, key employees. | $1,321,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,333,097 |
| Pension plan accruals and contributions | $6,473,076 |
| Other employee benefits | $18,977,699 |
| Payroll taxes | $4,843,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $333,320 |
| Fees for services: Accounting | $91,147 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,675,200 |
| Advertising and promotion | $0 |
| Office expenses | $817,131 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,756,518 |
| Travel | $1,485,882 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $616,191 |
| Interest | $3,965,022 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,646,431 |
| Insurance | $1,345,998 |
| All other expenses | $9,180,980 |
| Total functional expenses | $229,279,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $323,025 |
| Savings and temporary cash investments | $41,853,520 |
| Pledges and grants receivable | $13,486,080 |
| Accounts receivable, net | $1,807,459 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $371,896 |
| Inventories for sale or use | $415,756 |
| Prepaid expenses and deferred charges | $2,170,873 |
| Net Land, buildings, and equipment | $305,850,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $620,749,213 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,007 |
| Total assets | $987,033,808 |
| Accounts payable and accrued expenses | $64,848,442 |
| Grants payable | $0 |
| Deferred revenue | $7,681,999 |
| Tax-exempt bond liabilities | $113,497,176 |
| 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 | $434,376 |
| Total liabilities | $186,461,993 |
| Net assets without donor restrictions | $446,661,372 |
| Net assets with donor restrictions | $353,910,443 |
| 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 | $987,033,808 |
Grants Awarded
Over the last fiscal year, Skidmore College has awarded $80,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Saratoga Springs, NY PURPOSE: COMMUNITY COLLABORATION | $25,000 |
Schenectady, NY PURPOSE: COMMUNITY COLLABORATION | $15,000 |
Rensselaer, NY PURPOSE: COMMUNITY COLLABORATION | $15,000 |
Brooklyn, NY PURPOSE: COMMUNITY COLLABORATION | $5,000 |
Ausable Chasm, NY PURPOSE: COMMUNITY COLLABORATION | $5,000 |
Greenfield Center, NY PURPOSE: COMMUNITY COLLABORATION | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Skidmore College has recieved totaling $29,500.
| Awarding Organization | Amount |
|---|---|
The@milton And Dorothy Sarnoff Raymond Foundation Williamstown, MA PURPOSE: CHARITABLE | $10,000 |
Abraham I And Jean Sherr Foundation Inc New York, NY PURPOSE: TO ENABLE THE INSTITUTION TO CONTINUE THEIR PUBLIC CHARITABLE ROLE. | $10,000 |
Chipman Coker Foundation Greenville, DE PURPOSE: FUTHERANCE OFOPERATING PROGRAMSOR CAPITAL EXPENDITURES | $5,000 |
Raymond Watkin Tr For Charities Saratoga Springs, NY PURPOSE: ART PROGRAM SCHOLARSHIPS | $3,000 |
Pirzada Family Foundation Fremont, CA PURPOSE: GENERAL & UNRESTRICTED | $1,500 |
Endowment Analysis
| Beg. Balance | $494,836,770 |
| Earnings | -$26,452,455 |
| Net Contributions | $9,005,164 |
| Other Expense | $15,076,217 |
| Grants | $7,413,214 |
| Ending Balance | $454,900,048 |
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 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
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 |