Albright College
- Assets
- $196.0m
- Revenue
- $61.1m
- Investments
- $17.0m
- Employees
- 1,051
- Location
- Reading, PA
- Founding
- 11/1934
- Data as of
- 05/2023
- EIN
- 23-1352615
Organization Overview
Albright College is located in Reading, PA. The organization was established in 1934. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Albright College employed 1,051 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albright 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 05/2023, Albright College generated $61.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $81.1m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING A COMMITMENT TO LIFELONG LEARNING WITH A FOUNDATION IN THE LIBERAL ARTS.
Describe the Organization's Program Activity:
NAMED A TOP NATIONAL COLLEGE BY U.S. NEWS & WORLD REPORT, ALBRIGHT COLLEGE, READING, PA., (FOUNDED 1856) IS HOME TO ENGAGING FACULTY WHO BELIEVE THAT THE BEST ACADEMIC MOMENTS ARE WHEN STUDENTS FEEL INSPIRED AND READY TO TAKE ACTION. THE COLLEGE'S DISTINCTIVE CO-MAJOR PROGRAM ENABLES STUDENTS TO CROSS OR COMBINE DIFFERENT AREAS OF STUDY, WITHOUT TAKING LONGER TO GRADUATE. STUDY ALONGSIDE UNDERGRADUATE STUDENTS, ADULT LEARNERS AND GRADUATE STUDENTS, AND IGNITE YOUR SPARK AT ALBRIGHT COLLEGE.ALBRIGHT FACULTY BELIEVE THAT THE BEST ACADEMIC MOMENTS ARE WHEN STUDENTS FEEL INSPIRED AND READY TO TAKE ACTION. THE ALBRIGHT EXPERIENCE IS DESIGNED TO SPARK EACH STUDENT'S VISION FOR A MEANINGFUL FUTURE SO THAT THEY GRADUATE READY TO MAKE AN IMPACT ON OUR RAPIDLY CHANGING WORLD.STUDENTS ARE ENCOURAGED TO FORGE THEIR OWN PATH THROUGH STUDENT-DRIVEN LEARNING EXPERIENCES AND FOCUS THEIR FLAME BY CONNECTING YOUR PASSIONS IN FACULTY-LED EXPERIENCES. MORE THAN HALF OF ALBRIGHT STUDENTS TAKE ADVANTAGE OF THE COLLEGE'S DISTINCTIVE CO-MAJOR PROGRAM, WHICH ENABLES STUDENTS TO CROSS OR COMBINE DIFFERENT PROGRAMS, WITHOUT TAKING LONGER TO GRADUATE. IN ADDITION TO FACULTY MENTORS AND ALBRIGHT'S CAREER CENTER PROFESSIONALS, EACH STUDENT IS ASSIGNED A PERSONAL FOUR-YEAR SUCCESS COACH TO HELP THEM NAVIGATE COLLEGE AND STAY ON TRACK.AT ALBRIGHT, STUDENTS LEARN TO ASK QUESTIONS, THINK CREATIVELY, DEVELOP INNOVATIVE IDEAS AND SOLVE PROBLEMS. THEY ARE PREPARED TO BECOME AGENTS FOR CHANGE/SPARKS IN THE WORLD.ALBRIGHT IS A SUPPORTIVE, 24/7 RESIDENTIAL COMMUNITY WITH MORE THAN 70 STUDENT GROUPS, HONOR SOCIETIES, CLUBS, GREEK LIFE AND A VARIETY OF AFFINITY HOUSES - ALL OFFERING OPPORTUNITIES FOR LEADERSHIP AND SERVICE. MORE THAN A THIRD OF UNDERGRADUATES PARTICIPATE ON ALBRIGHT'S DIVISION III ATHLETIC TEAMS FOR WHICH THE QUALITY OF THE EDUCATIONAL EXPERIENCE AND SUCCESSFUL DEGREE COMPLETION ARE PRIORITIES.ALBRIGHT ALSO OFFERS ONLINE BACHELOR'S AND MASTER'S DEGREE PROGRAMS, CERTIFICATES AND PROFESSIONAL DEVELOPMENT FOR EDUCATORS. DESIGNED TO IGNITE THE SPARK OF FUTURE TEACHERS THROUGH PERSONALIZED LEARNING, ALBRIGHT COLLEGE'S NEW SCHOOL OF EDUCATIONAL INNOVATION OFFERS A RANGE OF DEEPLY EXPERIENTIAL EDUCATION DEGREES, ALL OF WHICH INCORPORATE THE GROUNDBREAKING TOTAL EXPERIENCE LEARNING METHODOLOGY, AVAILABLE ONLY AT ALBRIGHT.ALBRIGHT HAS BEEN RECOGNIZED AS ONE OF THE TOP COLLEGES IN THE COUNTRY FOR ITS SUCCESS IN ENROLLING AND SEEING ECONOMICALLY-DISADVANTAGED STUDENTS THROUGH TO GRADUATION. AFTER GRADUATION, MEDIAN INCOME LEVELS OF ALBRIGHT ALUMNI OUTPACE THE EARNINGS OF GRADUATES FROM MOST OTHER PRIVATE AND PUBLIC COLLEGES.53% PERSONALIZE DEGREES | 83% LIVE ON CAMPUS | 41% OUT-OF-STATE STUDENTS | 97% RECEIVE FINANCIAL AID | 48% NON-WHITE | 33% STUDENT-ATHLETES | 12:1 STUDENT-FACULTY RATIO | 150+ PERSONALIZED COMBINATION OF MAJORS.RECENT ACCOLADES INCLUDE:TOP NATIONAL LIBERAL ARTS COLLEGE U.S. NEWS & WORLD REPORT TOP 31 IN NATION ON SOCIAL MOBILITY U.S. NEWS & WORLD REPORT BEST COLLEGES FOR CAREER DEVELOPMENT COLLEGES OF DISTINCTION BEST MID-ATLANTIC COLLEGES PRINCETON REVIEW BEST LIBERAL ARTS COLLEGES WASHINGTON MONTHLY BEST BANG FOR THE BUCK WASHINGTON MONTHLY GRADS EARN HIGH ROI GEORGETOWN STUDY90% MED SCHOOL ACCEPTANCE RATE90% LAW SCHOOL ACCEPTANCE RATE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacquelyn S Fetrow PHD President | OfficerTrustee | 39.75 | $332,764 |
Wendy K Parsons Vp, Advancement | Officer | 40 | $170,233 |
Dwayne L Walker Vp, Enrollment Mgt | Officer | 40 | $167,325 |
Jeffrey L Strader Vp, Finance/strat. Ptn | Officer | 40 | $155,033 |
Rodney Warfield Prof. Of Education | 40 | $151,288 | |
Karen Campbell Sr. VP For Academic Affairs | Officer | 40 | $142,869 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dynamic Campus Solutions It Services | 5/30/23 | $1,614,689 |
Encoura Llc It Services | 5/30/23 | $763,987 |
Aramark Corporation Food Svc Provider | 5/30/23 | $3,228,676 |
Kimmel Bogrette Architecture Architect Services | 5/30/23 | $514,935 |
Eab Global Inc Recruiting Service | 5/30/23 | $488,729 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $98,350 |
| Related organizations | $0 |
| Government grants | $4,324,864 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,744,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,167,632 |
| Total Program Service Revenue | $46,903,766 |
| Investment income | $1,705,323 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $565,029 |
| Net Rental Income | $632,216 |
| Net Gain/Loss on Asset Sales | $2,059,122 |
| Net Income from Fundraising Events | -$4,392 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,056,362 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,886,569 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,559,549 |
| Compensation of current officers, directors, key employees. | $898,649 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,150,585 |
| Pension plan accruals and contributions | $747,685 |
| Other employee benefits | $3,762,282 |
| Payroll taxes | $1,576,926 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $332,326 |
| Fees for services: Accounting | $111,947 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,187 |
| Fees for services: Other | $4,315,095 |
| Advertising and promotion | $771,032 |
| Office expenses | $1,925,169 |
| Information technology | $681,241 |
| Royalties | $400 |
| Occupancy | $4,001,091 |
| Travel | $528,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,960 |
| Interest | $2,778,890 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,173,463 |
| Insurance | $1,019,614 |
| All other expenses | $2,923,350 |
| Total functional expenses | $81,114,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,057 |
| Savings and temporary cash investments | $3,142,319 |
| Pledges and grants receivable | $10,010,288 |
| Accounts receivable, net | $1,226,660 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $290,431 |
| Prepaid expenses and deferred charges | $1,454,219 |
| Net Land, buildings, and equipment | $73,947,215 |
| Investments—publicly traded securities | $37,152,085 |
| Investments—other securities | $16,970,543 |
| Investments—program-related | $1,998,947 |
| Intangible assets | $36,576,009 |
| Other assets | $13,069,579 |
| Total assets | $195,952,352 |
| Accounts payable and accrued expenses | $8,415,952 |
| Grants payable | $2,544,407 |
| Deferred revenue | $2,652,684 |
| Tax-exempt bond liabilities | $34,141,075 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,805,996 |
| Unsecured mortgages and notes payable | $4,692,430 |
| Other liabilities | $43,938,703 |
| Total liabilities | $105,191,247 |
| Net assets without donor restrictions | $8,273,427 |
| Net assets with donor restrictions | $82,487,678 |
| 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 | $195,952,352 |