Hartwick College
- Assets
- $153.4m
- Revenue
- $87.4m
- Investments
- $0.0
- Employees
- 1,046
- Location
- Oneonta, NY
- Founding
- 11/1937
- Data as of
- 06/2021
- 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 06/2022, Hartwick College employed 1,046 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 06/2021, Hartwick College generated $87.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $88.9m during the year ending 06/2021. While expenses have increased by 1.7% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HARTWICK COLLEGE, AN ENGAGED COMMUNITY STRIVING TOWARDS INCLUSION AND EQUITY WHILE INCREASING DIVERSITY, 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 IS PROVIDED TO APPROXIMATELY 1,100 FULL-TIME STUDENTS BY 98 FULL-TIME FACULTY MEMBERS. STUDENT AND FACULTY RESEARCH IS CONDUCTED AS A SUPPLEMENT TO ACADEMIC PROGRAMMING.
INSTITUTIONAL SUPPORT EXPENSES ENCOMPASS EXPENDITURES INCURRED IN THE GENERAL ADMINISTRATION OF THE COLLEGE.ACADEMIC SUPPORT EXPENSES ENTAIL COSTS INCURRED IN THE OPERATION OF CAMPUS-BASED SERVICES WHICH ENHANCE THE ACADEMIC ENVIRONMENT.PUBLIC SERVICES EXPENSES ENCOMPASS THOSE COSTS RELATED TO PROGRAMS SPONSORED BY THE COLLEGE, PRIMARILY FOR THE BENEFIT OF RESIDENTS OF THE LOCAL COMMUNITY AND SURROUNDING AREA.
STUDENT SERVICES EXPENSES INCLUDE PRIMARILY THE STUDENT LIFE ACTIVITIES, INTERCOLLEGIATE ATHLETICS, THE OFFICE OF THE REGISTRAR, THE OFFICE OF FINANCIAL AID AND THE OFFICE OF ADMISSIONS.
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 | $462,766 |
David Long Chairman | OfficerTrustee | 1 | $0 |
Kathleen Fallon Vice Chair | OfficerTrustee | 1 | $0 |
Cathy Weeks Treasurer | OfficerTrustee | 1 | $0 |
Colleen Connery Secretary | OfficerTrustee | 1 | $0 |
George Allen Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Facilities Services Facilities Maintenance | 6/29/22 | $4,488,068 |
Ologie Llc Marketing | 6/29/22 | $1,010,137 |
Aramark Dining Services Dining | 6/29/22 | $3,441,663 |
Eab Global Inc Student Recruiting | 6/29/22 | $869,643 |
Alliance Masonry Corp Construction | 6/29/22 | $231,459 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,677,722 |
| Investment income | $839,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$161 |
| Net Gain/Loss on Asset Sales | $6,273,091 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,443,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $36,488,664 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,649,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,360,155 |
| Pension plan accruals and contributions | $1,046,150 |
| Other employee benefits | $2,524,563 |
| Payroll taxes | $1,426,476 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $215,616 |
| Fees for services: Accounting | $54,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $108,586 |
| Fees for services: Other | $917,311 |
| Advertising and promotion | $1,782,853 |
| Office expenses | $235,133 |
| Information technology | $1,393,509 |
| Royalties | $0 |
| Occupancy | $1,087,031 |
| Travel | $129,830 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,689 |
| Interest | $1,709,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,665,635 |
| Insurance | $935,973 |
| All other expenses | $0 |
| Total functional expenses | $88,853,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,249,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,326,085 |
| Accounts receivable, net | $1,309,269 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,619,321 |
| Inventories for sale or use | $208,484 |
| Prepaid expenses and deferred charges | $844,645 |
| Investments—publicly traded securities | $77,032,175 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,665,917 |
| Total assets | $153,448,262 |
| Accounts payable and accrued expenses | $5,788,264 |
| Grants payable | $0 |
| Deferred revenue | $1,255,535 |
| Tax-exempt bond liabilities | $37,464,988 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $125,932 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,461,457 |
| Total liabilities | $51,096,176 |
| 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 | $102,352,086 |