Elizabethtown College
- Assets
- $232.7m
- Revenue
- $88.5m
- Investments
- $77.9m
- Employees
- 1,505
- Location
- Elizabethtown, PA
- Founding
- 04/1963
- Data as of
- 06/2022
- EIN
- 23-1352632
Organization Overview
Elizabethtown College is located in Elizabethtown, PA. The organization was established in 1963. 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, Elizabethtown College employed 1,505 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elizabethtown 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 06/2022, Elizabethtown College generated $88.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $94.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A TRANSFORMATIVE EDUCATIONAL EXPERIENCE THAT CULTIVATES STRENGTHS OF ITS STUDENTS.
Describe the Organization's Program Activity:
SEE SCHEDULE O
SEE SCHEDULE O
ELIZABETHTOWN COLLEGE LAUNCHED A HUMAN PERFORMANCE LABORATORY (HPL) LOCATED IN THE BOWERS CENTER FOR SPORTS, FITNESS & WELL-BEING ON THE CAMPUS. THE HPL SERVES AS A DYNAMIC SPACE FOR SPORTS MEDICINE AND EXERCISE SCIENCE TESTING, EVALUATION, AND PERFORMANCE AND IS OPEN TO THE PUBLIC. STUDENTS IN THE INSTITUTION'S EXERCISE SCIENCE PROGRAM WILL CONDUCT CLASSES AND RESEARCH IN THE HPL FOR EXPERIENTIAL LEARNING EXPERIENCES TO ENHANCE THE EDUCATIONAL PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecilia Mccormick President (thru 12/21) | Officer | 40 | $368,650 |
Gerald L Silberman Senior VP Admin & Finance | Officer | 40 | $229,218 |
David C Beidleman VP For Inst. Advmnt (thru 5/22) | Officer | 40 | $203,380 |
John Champoli VP Enrollment Management | Officer | 40 | $195,390 |
Elizabeth Rider Sr VP Academ; Pres (as Of 1/22) | Officer | 40 | $167,642 |
Hossein Varamini Professor Of Business | 40 | $167,042 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
High Construction Company Construction | 6/29/22 | $934,788 |
Gsm Roofing Inc Construction | 6/29/22 | $557,934 |
Zephyr Aluminum Llc Construction | 6/29/22 | $453,502 |
Target Media Marketing | 6/29/22 | $436,040 |
Davis Landscape Contractors Inc Landscape | 6/29/22 | $440,476 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $13,000 |
| Membership dues | $0 |
| Fundraising events | $8,993 |
| Related organizations | $0 |
| Government grants | $861,595 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,329,435 |
| Noncash contributions included in lines 1a–1f | $855,622 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,213,023 |
| Total Program Service Revenue | $74,038,063 |
| Investment income | $983,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $715,334 |
| Net Gain/Loss on Asset Sales | $138,050 |
| Net Income from Fundraising Events | $12,402 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $335,414 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,467,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,023,395 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,632,347 |
| Compensation of current officers, directors, key employees. | $1,030,380 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,184,868 |
| Pension plan accruals and contributions | $1,965,487 |
| Other employee benefits | $7,067,380 |
| Payroll taxes | $1,966,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $189,692 |
| Fees for services: Accounting | $118,989 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,987 |
| Fees for services: Other | $485,486 |
| Advertising and promotion | $879,274 |
| Office expenses | $1,304,476 |
| Information technology | $1,211,800 |
| Royalties | $0 |
| Occupancy | $2,488,110 |
| Travel | $212,763 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,927 |
| Interest | $1,577,853 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,511,558 |
| Insurance | $686,376 |
| All other expenses | $5,343,037 |
| Total functional expenses | $93,962,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,102,554 |
| Savings and temporary cash investments | $29,862,244 |
| Pledges and grants receivable | $2,127,658 |
| Accounts receivable, net | $1,785,831 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $357,855 |
| Inventories for sale or use | $498,115 |
| Prepaid expenses and deferred charges | $1,153,760 |
| Net Land, buildings, and equipment | $96,176,592 |
| Investments—publicly traded securities | $20,057,748 |
| Investments—other securities | $77,906,910 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,717,374 |
| Total assets | $232,746,641 |
| Accounts payable and accrued expenses | $1,986,457 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $56,783,967 |
| Escrow or custodial account liability | $3,218,915 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,717,374 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,423,675 |
| Total liabilities | $83,130,388 |
| Net assets without donor restrictions | $53,916,993 |
| Net assets with donor restrictions | $95,699,260 |
| 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 | $232,746,641 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Elizabethtown College has recieved totaling $14,000.
| Awarding Organization | Amount |
|---|---|
Putnam Family Foundation Inc Cobleskill, NY PURPOSE: EDUCATION | $10,000 |
Geraldine Diehl Wilson Charitable Foundation Of Delanco New Jersey Fort Washington, PA PURPOSE: SCHOLARSHIP ON BEHALF OF SARAH REILLY | $4,000 |
Endowment Analysis
| Beg. Balance | $109,803,173 |
| Earnings | -$2,677,823 |
| Net Contributions | $5,513,462 |
| Other Expense | $4,703,084 |
| Grants | $2,585,023 |
| Ending Balance | $105,350,705 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Skidmore College Saratoga Springs, NY | $987,033,808 | $268,742,242 |
Lafayette College Easton, PA | $1,381,563,896 | $228,460,340 |
Swarthmore College Swarthmore, PA | $3,573,029,000 | $364,464,007 |
Denison University Granville, OH | $1,502,847,785 | $275,909,448 |
Barnard College New York, NY | $934,956,587 | $267,817,606 |
Gettysburg College Gettysburg, PA | $570,755,194 | $196,773,554 |
Trustees Of Hamilton College Clinton, NY | $1,394,895,135 | $220,131,728 |