Hartwick College
- Assets
- $142.7m
- Revenue
- $76.2m
- Investments
- $0.0
- Employees
- 1,045
- Location
- Oneonta, NY
- Founding
- 11/1937
- Data as of
- 06/2020
- EIN
- 15-0533561
Organization Overview
Hartwick College is located in Oneonta, NY. The organization was established in 1937. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Hartwick College employed 1,045 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hartwick 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 06/2020, Hartwick College generated $76.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $84.2m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
HARTWICK COLLEGE, AN ENGAGED COMMUNITY, INTEGRATES A LIBERAL ARTS EDUCATION WITH EXPERIENTIAL LEARNING TO INSPIRE CURIOSITY, CRITICAL THINKING, CREATIVITY, PERSONAL COURAGE AND AN ENDURING PASSION FOR LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND RESEARCH - INSTRUCTION IS PROVIDED TO APPROXIMATELY 1,200 FULL-TIME STUDENTS BY 111 FULL-TIME FACULTY MEMBERS. STUDENT AND FACULTY RESEARCH IS CONDUCTED AS A SUPPLEMENT TO ACADEMIC PROGRAMMING.
STUDENT SERVICES - STUDENT SERVICES EXPENSES INCLUDE PRIMARILY STUDENT LIFE ACTIVITIES, INTERCOLLEGIATE ATHLETICS, THE OFFICE OF THE REGISTRAR, THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ADMISSIONS.
AUXILIARY ENTERPRISES - AUXILIARY ENTERPRISE EXPENSES INCLUDE EXPENDITURES ASSOCIATED WITH THE RESIDENCE HALLS, FOOD SERVICE AND HEALTH CENTER OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Drugovich President | OfficerTrustee | 40 | $785,838 |
Karen Mcgrath VP Admissions | 40 | $205,852 | |
Paula Lee Hobson VP College Advancement | 40 | $189,084 | |
William Ehmann Provost | 40 | $176,780 | |
Dorothy Lewis Vpfin/assttreas | 40 | $144,889 | |
Karen Zuill Vpfin/assttreas | Officer | 40 | $125,517 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Assessment Technologies Inst Llc Testing | 6/29/21 | $163,194 |
Ellucian Company Lp Software | 6/29/21 | $399,909 |
Thomas A Warger It Consultant | 6/29/21 | $140,000 |
Hickory Hill Restorations Building Contractor | 6/29/21 | $121,945 |
Hunters Rein Stable Equestrian Facilities | 6/29/21 | $110,807 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,327,015 |
| Investment income | $925,660 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $249 |
| Net Gain/Loss on Asset Sales | $3,497,727 |
| Net Income from Fundraising Events | $5,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,206,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $34,248,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,111,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,252,164 |
| Pension plan accruals and contributions | $992,159 |
| Other employee benefits | $2,433,424 |
| Payroll taxes | $1,398,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,665 |
| Fees for services: Accounting | $64,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,831 |
| Fees for services: Other | $521,405 |
| Advertising and promotion | $1,210,743 |
| Office expenses | $235,600 |
| Information technology | $1,075,388 |
| Royalties | $0 |
| Occupancy | $1,215,913 |
| Travel | $1,101,244 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $73,967 |
| Interest | $1,744,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,644,065 |
| Insurance | $898,543 |
| All other expenses | $0 |
| Total functional expenses | $84,235,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,347,704 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,040,765 |
| Accounts receivable, net | $1,633,680 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,065,659 |
| Inventories for sale or use | $209,463 |
| Prepaid expenses and deferred charges | $737,204 |
| Investments—publicly traded securities | $69,263,449 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,727,909 |
| Total assets | $142,667,541 |
| Accounts payable and accrued expenses | $4,923,128 |
| Grants payable | $0 |
| Deferred revenue | $1,579,677 |
| Tax-exempt bond liabilities | $38,284,281 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $130,981 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,276,787 |
| Total liabilities | $55,194,854 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $87,472,687 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hartwick College has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Brooks Bar-B-Que Chartiable Foundation Oneonta, NY PURPOSE: GENERAL FUND | $1,000 |
Endowment Analysis
| Beg. Balance | $69,576,602 |
| Earnings | $19,418,516 |
| Admin Expense | $108,586 |
| Net Contributions | $1,653,434 |
| Other Expense | $6,245,527 |
| Grants | $6,949,111 |
| Ending Balance | $77,345,328 |
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 |