Franklin & Marshall College
- Assets
- $899.3m
- Revenue
- $209.5m
- Investments
- $428.8m
- Employees
- 2,158
- Location
- Lancaster, PA
- Founding
- 12/1934
- Data as of
- 06/2021
- EIN
- 23-1352635
Organization Overview
Franklin & Marshall College is located in Lancaster, 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 06/2022, Franklin & Marshall College employed 2,158 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin & Marshall 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, Franklin & Marshall College generated $209.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $190.2m during the year ending 06/2021. While expenses have increased by 0.5% per year over the past 7 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.
Since 2015, Franklin & Marshall College has awarded 45 individual grants totaling $1,811,168. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A RESIDENTIAL COLLEGE DEDICATED TO EXCELLENCE IN UNDERGRADUATE LIBERAL ARTS EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION: THE COLLEGE GRANTS BACHELOR OF ARTS DEGREES IN 60 FIELDS OF STUDY, WITH A FULL-TIME EQUIVALENT UNDERGRADUATE ENROLLMENT OF 1,986 DURING THE 2022 ACADEMIC YEAR. THE COLLEGE OFFERS AN INTEGRATED LEARNING ENVIRONMENT WHERE STUDENTS ENGAGE THE VALUES OF THE LIBERAL ARTS - BOTH THROUGH THE CURRICULUM AND IN THEIR LIVES OUTSIDE THE FORMAL CLASSROOM. OUR CURRENT STUDENT TO FACULTY RATIO IS 9 STUDENTS TO EVERY 1 FACULTY MEMBER, WITH AN AVERAGE CLASS SIZE OF 18 STUDENTS.
AUXILIARY OPERATIONS: ACADEMIC SUPPORT, RESEARCH, PUBLIC SERVICE, AND INSTITUTIONAL SUPPORT.
FINANCIAL AID: THE COLLEGE'S STRATEGIC PLAN INCLUDES A COMMITMENT TO MEET 100% OF EVERY STUDENT'S INSTITUTIONALLY DETERMINED NEED FOR ALL FOUR YEARS OF THEIR EDUCATION. TO THAT END, THE COLLEGE PROVIDES FINANCIAL AID TO 64.8% OF OUR STUDENTS, ALLOWING US TO RECRUIT EXTRAORDINARY TALENT FROM ALL BACKGROUNDS. THE CLASS OF 2026 ENROLLED 488 STUDENTS. THEY BOAST AN AVERAGE SAT SCORE OF 1325 AND AN AVERAGE ACT SCORE OF 30.
STUDENT SERVICES: THE COLLEGE OFFERS A VARIETY OF ACTIVITIES AND EXPERIENCES TO COMPLEMENT THE ACADEMIC PURSUITS OF OUR STUDENTS. THE OFFICE OF STUDENT ENGAGEMENT & LEADERSHIP OFFERS STUDENTS THE OPPORTUNITY TO PARTICIPATE IN DIPLOMATIC CONGRESS, CLUB COUNCIL, THE COLLEGE ENTERTAINMENT COMMITTEE, AND/OR ANY OF OVER 100 STUDENT CLUBS. STUDENTS MAY ALSO PARTICIPATE IN OVER 27 VARSITY, 5 INTRAMURAL, AND NUMEROUS CLUB SPORTS TEAMS. THE COLLEGE'S GREEK LIFE AND COLLEGE HOUSE SYSTEM PROMOTE A SENSE OF COMMUNITY AMONG ALL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricardo G Rivers Trustee | Trustee | 2 | $0 |
Paul R Brown PHD Trustee | Trustee | 2 | $0 |
Mohammed A Anjarwala Trustee | Trustee | 2 | $0 |
Matthew J Murphy Trustee | Trustee | 2 | $0 |
Akbar Hossain Trustee | Trustee | 2 | $0 |
Les J Lieberman Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Services Mgmt. | 6/29/22 | $5,289,498 |
Lancaster General Medical Grp Student Health Svcs. | 6/29/22 | $1,563,289 |
Medical Staffing Network Covid-19 Testing Administration | 6/29/22 | $560,945 |
Keeling & Associates Business Consulting | 6/29/22 | $342,075 |
Storbeck Search & Associates Executive Search Services | 6/29/22 | $263,264 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,265,935 |
| Investment income | $5,740,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $23,498 |
| Net Rental Income | $361,857 |
| Net Gain/Loss on Asset Sales | $25,801,724 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $209,519,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $55,861,540 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,826,552 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,428,595 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,532,737 |
| Pension plan accruals and contributions | $2,103,534 |
| Other employee benefits | $12,611,120 |
| Payroll taxes | $4,074,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $363,964 |
| Fees for services: Accounting | $131,820 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,922,908 |
| Fees for services: Other | $13,617,431 |
| Advertising and promotion | $200,402 |
| Office expenses | $3,288,460 |
| Information technology | $2,612,795 |
| Royalties | $0 |
| Occupancy | $3,577,178 |
| Travel | $385,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $147,319 |
| Interest | $4,733,276 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,605,184 |
| Insurance | $951,528 |
| All other expenses | $0 |
| Total functional expenses | $190,172,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$663,369 |
| Savings and temporary cash investments | $12,861,521 |
| Pledges and grants receivable | $20,012,247 |
| Accounts receivable, net | $2,773,089 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $644,485 |
| Investments—publicly traded securities | $95,821,565 |
| Investments—other securities | $428,800,432 |
| Investments—program-related | $6,770,683 |
| Intangible assets | $0 |
| Other assets | $7,634,943 |
| Total assets | $899,256,737 |
| Accounts payable and accrued expenses | $4,956,846 |
| Grants payable | $0 |
| Deferred revenue | $1,347,039 |
| Tax-exempt bond liabilities | $108,460,495 |
| Escrow or custodial account liability | $924,298 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,627,710 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $108,723,081 |
| Total liabilities | $228,039,469 |
| 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 | $671,217,268 |
Grants Awarded
Over the last fiscal year, Franklin & Marshall College has awarded $147,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LANCASTER GENERAL HEALTH FOUNDATION PURPOSE: GENERAL SUPPORT | $12,500 |
LANCASTER CITY ALLIANCE PURPOSE: LANCASTER CITY EDP | $120,000 |
LANCASTER CHAMBER OF COMMERCE PURPOSE: GENERAL SUPPORT | $7,500 |
FULTON THEATRE PURPOSE: STAGE PRODUCTIONS | $7,500 |