Paul Smiths College Of Arts And Sciences
- Assets
- $77.0m
- Revenue
- $40.8m
- Investments
- $295.0k
- Employees
- 705
- Location
- Paul Smiths, NY
- Founding
- 10/1946
- Data as of
- 06/2022
- EIN
- 15-0533545
Organization Overview
Paul Smiths College Of Arts And Sciences is located in Paul Smiths, NY. 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, Paul Smiths College Of Arts And Sciences employed 705 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paul Smiths College Of Arts And Sciences 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, Paul Smiths College Of Arts And Sciences generated $40.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $43.3m during the year ending 06/2022. While expenses have increased by 2.3% 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
HIGHER EDUCATION: "THE REAL VALUE OF A PSC EDUCATION IS IN THE EMPHASIS ON NOT JUST LEARNING SOMETHING, BUT IN ACTUALLY DOING IT." THE PAUL SMITH'S COLLEGE COMMUNITY PROVIDES A DYNAMIC EDUCATIONAL ENVIRONMENT WHICH ENCOURAGES STUDENTS TO BE ACTIVELY ENGAGED IN THEIR OWN LEARNING EXPERIENCE BY FOSTERING CREATIVE, ETHICAL AND INTELLECTUAL GROWTH.
Describe the Organization's Program Activity:
POSTSECONDARY EDUCATION, GENERAL/OTHER: INSTRUCTION - TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN IN THE ARTS AND SCIENCES, WITH AUTHORITY TO CONFER THE DEGREES OF ASSOCIATES IN ARTS (AA), ASSOCIATES IN APPLIED SCIENCE (AAS) AND BACHELOR OF SCIENCE (BS) IN CONFORMITY WITH THE REGENTS OF NYS AND THE COMMISSIONER OF EDUCATION. APPROXIMATELY 780 STUDENTS.
POSTSECONDARY EDUCATION, GENERAL/OTHER: AUXILLIARY ENTERPRISES - THE OPERATION AND MAINTENANCE OF THE RESIDENCE HALLS, CAFETERIA AND CAMPUS STORE THAT SERVE THE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Dzwonczyk Chairman | OfficerTrustee | 5 | $0 |
Katharine H Welling Co-Vice Chai | OfficerTrustee | 5 | $0 |
Angela Noble-Grange Co -Vice Cha | OfficerTrustee | 5 | $0 |
David Blye Treasurer | OfficerTrustee | 5 | $0 |
Karen Regen-Baum Secretary | OfficerTrustee | 5 | $0 |
Stuart H Angert Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Operations Llc Food/facilities | 6/29/22 | $3,307,840 |
Homeenergy Services Heating | 6/29/22 | $561,829 |
Eab Professional | 6/29/22 | $404,218 |
Partners By Design Llc Contracting | 6/29/22 | $204,465 |
Registry For College Univ Presid Prof Fees | 6/29/22 | $345,227 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,040,531 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,210,029 |
| Noncash contributions included in lines 1a–1f | $35,967 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,250,560 |
| Total Program Service Revenue | $30,459,628 |
| Investment income | $431,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $610,873 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $131,244 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,777,249 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,623,711 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $665,717 |
| Compensation of current officers, directors, key employees. | $532,574 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,083,290 |
| Pension plan accruals and contributions | $378,386 |
| Other employee benefits | $1,067,988 |
| Payroll taxes | $748,108 |
| Fees for services: Management | $2,625,017 |
| Fees for services: Legal | $179,469 |
| Fees for services: Accounting | $87,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $310,038 |
| Office expenses | $3,197,971 |
| Information technology | $521,821 |
| Royalties | $0 |
| Occupancy | $3,665,287 |
| Travel | $876,813 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $642,831 |
| Interest | $434,853 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,006,069 |
| Insurance | $523,938 |
| All other expenses | $169,876 |
| Total functional expenses | $43,313,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $829,863 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $307,229 |
| Accounts receivable, net | $1,916,545 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $114,419 |
| Prepaid expenses and deferred charges | $626,857 |
| Net Land, buildings, and equipment | $38,321,034 |
| Investments—publicly traded securities | $34,553,288 |
| Investments—other securities | $294,974 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $76,964,209 |
| Accounts payable and accrued expenses | $2,237,470 |
| Grants payable | $0 |
| Deferred revenue | $318,187 |
| Tax-exempt bond liabilities | $3,715,916 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,697,010 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,953,805 |
| Total liabilities | $14,922,388 |
| Net assets without donor restrictions | $34,473,034 |
| Net assets with donor restrictions | $27,568,787 |
| 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 | $76,964,209 |