Excelsior College
- Assets
- $79.0m
- Revenue
- $78.3m
- Investments
- $0.0
- Employees
- 1,215
- Location
- Albany, NY
- Founding
- 07/1998
- Data as of
- 06/2021
- EIN
- 16-1532850
Organization Overview
Excelsior College is located in Albany, NY. The organization was established in 1998. 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, Excelsior College employed 1,215 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Excelsior 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, Excelsior College generated $78.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $76.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EXCELSIOR COLLEGE PROVIDES EDUCATIONAL OPPORTUNITY TO ADULT LEARNERS WITH AN EMPHASIS ON THOSE HISTORICALLY UNDERREPRESENTED IN HIGHER EDUCATION. THE COLLEGE MEETS STUDENTS WHERE THEY ARE - ACADEMICALLY AND GEOGRAPHICALLY, OFFERING QUALITY INSTRUCTION AND THE ASSESSMENT OF PRIOR LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDERGRAD AND GRADUATE TUITION. DURING THIS PERIOD, 139,532 UNDERGRADUATE HOURS OF COURSE INSTRUCTION, AND 19,398 HOURS OF GRADUATE LEVEL COURSE INSTRUCTION WERE DELIVERED.
NURSING PERFORMANCE AND OTHER ADMINISTERED EXAMINATIONS. DURING THIS PERIOD, THE COLLEGE ADMINISTERED 5,997 CREDIT BEARING EXAMINATIONS TO STUDENTS ENROLLED IN ITS VARIOUS PROGRAMS INCLUDING NURSING, AND DELIVERED 20,792 CREDITS IN PERFORMANCE EXAMINATIONS TO STUDENTS ENROLLED IN ITS NURSING PROGRAMS.
ENROLLMENT IN HIGHER EDUCATION. DURING THIS PERIOD, 6,712 NEW STUDENTS ENROLLED IN THE COLLEGE WHILE THERE WERE 16,372 ACTIVELY ENROLLED STUDENTS AS OF 6/30/21. 5,768 DEGREES WERE AWARDED FROM JULY 1, 2020 THROUGH JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James N Baldwin President & Chief Executive Officer Until July 2020 | Officer | 37.5 | $347,602 |
John Caron Provost And Chief Academic Officer | Officer | 37.5 | $300,602 |
James C Lettko Chief Operating Officer | Officer | 37.5 | $259,589 |
Dawn F Gerrain Chief Marketing And Business Development Officer | Officer | 37.5 | $233,704 |
Mark Howe VP Of Human Resources | Officer | 37.5 | $229,837 |
David Schejbal President & Chief Executive Officer As Of Aug 2020 | Officer | 37.5 | $206,860 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Education Dynamics Advertising Services | 6/29/21 | $2,630,011 |
Milton S Eisenhower Library Johns Hopkins University Library Services | 6/29/21 | $1,370,255 |
Ellucian Company Lp Academic Online Service | 6/29/21 | $939,642 |
Charter Communications Holdings Llc Advertising Services | 6/29/21 | $840,134 |
Nuvalence Llc Flexible Pricing Engine | 6/29/21 | $715,735 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $457,354 |
| All other contributions, gifts, grants, and similar amounts not included above | $534,265 |
| Noncash contributions included in lines 1a–1f | $16,569 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $991,619 |
| Total Program Service Revenue | $75,024,031 |
| Investment income | $832,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $293,732 |
| Net Gain/Loss on Asset Sales | $1,140,503 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,298,930 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $881,051 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,983,254 |
| Compensation of current officers, directors, key employees. | $2,401,712 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,900,433 |
| Pension plan accruals and contributions | $1,860,365 |
| Other employee benefits | $3,446,954 |
| Payroll taxes | $3,274,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $331,050 |
| Fees for services: Accounting | $80,200 |
| Fees for services: Lobbying | $168,421 |
| Fees for services: Fundraising | $31,008 |
| Fees for services: Investment Management | $41,566 |
| Fees for services: Other | $9,785,741 |
| Advertising and promotion | $4,820,598 |
| Office expenses | $1,478,768 |
| Information technology | $4,203,136 |
| Royalties | $0 |
| Occupancy | $852,972 |
| Travel | $51,501 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,631 |
| Interest | $14,770 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,758,361 |
| Insurance | $233,470 |
| All other expenses | $0 |
| Total functional expenses | $76,656,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$628,759 |
| Savings and temporary cash investments | $11,099,867 |
| Pledges and grants receivable | $167,175 |
| Accounts receivable, net | $6,714,871 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,923 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,167,808 |
| Net Land, buildings, and equipment | $18,736,370 |
| Investments—publicly traded securities | $38,130,476 |
| Investments—other securities | $0 |
| Investments—program-related | $140,019 |
| Intangible assets | $0 |
| Other assets | $465,885 |
| Total assets | $78,995,635 |
| Accounts payable and accrued expenses | $9,006,640 |
| Grants payable | $0 |
| Deferred revenue | $5,952,908 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,679,424 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,945 |
| Total liabilities | $24,646,917 |
| Net assets without donor restrictions | $50,942,706 |
| Net assets with donor restrictions | $3,406,012 |
| 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 | $78,995,635 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Excelsior College has recieved totaling $72,246.
| Awarding Organization | Amount |
|---|---|
Carl E Touhey Foundation Albany, NY PURPOSE: PROVIDE EDUCATIONAL OPPORTUNITY TO ADULT LEARNERS WITH AN EMPHASIS ON THOSE HISTORICALLY UNDERREPRESENTED IN HIGHER EDUCATION, THROUGH OFFERING QUALITY INSTRUCTION AND THE ASSESSMENT OF LEARNING. | $50,000 |
Massry Charitable Foundation Inc Albany, NY PURPOSE: GENERAL | $12,500 |
Julia O Wells Memorial Education Foundation Inc Latham, NY PURPOSE: COLLEGE GRANT | $8,500 |
Price Choppers Golub Foundation Schenectady, NY PURPOSE: GENERAL SUPPORT/CAPITAL CAMPAIGN | $1,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $154 |
Ppl Foundation Allentown, PA PURPOSE: PROGRAM SUPPORT | $50 |
Endowment Analysis
| Beg. Balance | $30,443,033 |
| Earnings | $7,563,087 |
| Admin Expense | $36,952 |
| Net Contributions | $69,014 |
| Grants | $76,491 |
| Ending Balance | $37,961,691 |
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 |