American College
- Assets
- $101.1m
- Revenue
- $39.8m
- Investments
- $24.1m
- Employees
- 226
- Location
- King of Prussia, PA
- Founding
- 06/1938
- Data as of
- 12/2021
- EIN
- 23-1352008
Organization Overview
American College, operating under the name The American College of Financial Se Services, is located in King of Prussia, PA. The organization was established in 1938. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 12/2021, American College of Financial Se Services employed 226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American College of Financial Se Services 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 12/2021, American College of Financial Se Services generated $39.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $41.9m during the year ending 12/2021. 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
THE MISSION OF THE AMERICAN COLLEGE OF FINANCIAL SERVICES (CONTINUED ON NEXT PAGE).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HUEBNER SCHOOL ADMINISTERS THE CURRICULUM LEADING TO THE CLU, CHFC,RICP, CLF, CHSNC, AND WMCP PROFESSIONAL DESIGNATIONS. IT ALSO PROVIDESTHE EDUCATIONAL CONTENT NEEDED TO OBTAIN THE CFP PROFESSIONALDESIGNATION. THERE ARE APPROXIMATELY 13,100 STUDENTS ENROLLED IN THESEPROGRAMS.
THE IRWIN GRADUATE SCHOOL ADMINISTERS THE CURRICULUM LEADING TO THEMASTER OF SCIENCE IN MANAGEMENT, THE MASTER OF SCIENCE IN FINANCIALSERVICES, THE CHARTERED ADVISOR IN PHILANTHROPY (CAP) DESIGNATION, ANDTHE DOCTORAL PROGRAM IN FINANCIAL AND RETIREMENT PLANNING. THERE AREAPPROXIMATELY 1,120 STUDENTS ENROLLED IN THESE PROGRAMS.
THE FSCP PROGRAM ADMINISTERS THE CURRICULUM LEADING TO THE FSCPPROFESSIONAL DESIGNATION. THERE ARE APPROXIMATELY 1,100 STUDENTS ENROLLEDIN THIS PROGRAM.
INCLUDES PROFESSIONAL RECERTIFICATION PROGRAM (PRP) FEES OF 2,863,875.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Nichols III President & CEO | OfficerTrustee | 40 | $1,088,258 |
David Stoeffel SVP Business Development | Officer | 40 | $486,452 |
Larry Patrizi Thru June 2021 Evp And Provost | Officer | 40 | $472,417 |
Stephen Grourke SVP Advancement | Officer | 40 | $377,942 |
Gwen Hall Eff June 2021 Evp And Provost | Officer | 40 | $349,916 |
Deborah Glenn Chief Human Resources Officer | Officer | 40 | $313,162 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Torch Enterprises Consulting | 12/30/21 | $380,566 |
Sloane And Company Llc Public Relations Consulting | 12/30/21 | $240,000 |
Seer Interactive Advertising And Marketing | 12/30/21 | $194,729 |
Stephen Parrish Program Consulting | 12/30/21 | $132,067 |
Dechert Llp Legal Services | 12/30/21 | $130,229 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $858,250 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,431,813 |
| Noncash contributions included in lines 1a–1f | $18,283 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,290,063 |
| Total Program Service Revenue | $22,831,492 |
| Investment income | $1,082,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $242,339 |
| Net Rental Income | $1,781,458 |
| Net Gain/Loss on Asset Sales | $2,690,821 |
| Net Income from Fundraising Events | -$264,055 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,801,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,530,238 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,325,966 |
| Compensation of current officers, directors, key employees. | $1,673,007 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,753,589 |
| Pension plan accruals and contributions | $1,112,835 |
| Other employee benefits | $2,799,225 |
| Payroll taxes | $1,317,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $421,180 |
| Fees for services: Accounting | $98,504 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,000 |
| Fees for services: Other | $3,799,935 |
| Advertising and promotion | $1,023,416 |
| Office expenses | $1,426,882 |
| Information technology | $462,348 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $277,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $905,283 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,862,237 |
| Insurance | $383,022 |
| All other expenses | $0 |
| Total functional expenses | $41,877,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,827,460 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,625,312 |
| Accounts receivable, net | $1,443,427 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,924 |
| Prepaid expenses and deferred charges | $1,952,363 |
| Net Land, buildings, and equipment | $29,280,154 |
| Investments—publicly traded securities | $9,907,828 |
| Investments—other securities | $24,063,362 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,989,409 |
| Total assets | $101,126,239 |
| Accounts payable and accrued expenses | $6,402,002 |
| Grants payable | $0 |
| Deferred revenue | $10,977,113 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,407,884 |
| Total liabilities | $18,786,999 |
| Net assets without donor restrictions | $22,566,933 |
| Net assets with donor restrictions | $59,772,307 |
| 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 | $101,126,239 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that American College has recieved totaling $1,585,560.
| Awarding Organization | Amount |
|---|---|
Truist Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $500,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $370,833 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $250,000 |
M Center Of Excellence Portland, OR PURPOSE: Project Title: Financial Education and Longevity in the Black Community. Focus: Black women are the gatekeepers for families and communities. Black women are the primary or co-breadwinner for 68% of Black households, make up 66% of Black baccalaureate degree holders, and are the only racial or ethnic group with more business ownership than their male peers. The American College Center for Economic Empowerment and Equality's financial education programs will empower Black women with the knowledge and resources to help narrow the wealth gap, promote generational financial literacy and lead to longer and more vibrant lives. Plan: Two certificate options will be offered. Tier one will be a participant certificate, focused on individual education and knowledge, and a tier two certificate, focused on group financial education delivery. | $125,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $75,000 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $73,937 |
Endowment Analysis
| Beg. Balance | $45,679,213 |
| Earnings | $585,320 |
| Net Contributions | $2,679,107 |
| Other Expense | $6,696,613 |
| Ending Balance | $42,247,027 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Medical College Valhalla, NY | $318,677,910 | $119,697,970 |
Lake Erie College Of Osteopathic Medicine Inc Erie, PA | $757,028,043 | $202,994,752 |
Touro University New York, NY | $83,518,573 | $93,950,601 |
New York Law School New York, NY | $345,948,911 | $82,190,230 |
Brooklyn Law School Brooklyn, NY | $395,638,685 | $73,619,300 |
Bank Street College Of Education New York, NY | $91,645,236 | $64,451,080 |
Touro University New York, NY | $112,668,496 | $69,634,843 |
Albany College Of Pharmacy And Health Sciences Albany, NY | $159,389,370 | $62,205,490 |
Salus University Elkins Park, PA | $71,855,290 | $53,963,466 |
Geisinger Commonwealth School Of Medicine Danville, PA | $148,792,015 | $48,699,077 |
American College King of Prussia, PA | $101,126,239 | $39,801,880 |
Albany Law School Albany, NY | $122,483,245 | $40,164,228 |