Franklin & Marshall College
- Assets
- $899.3m
- Revenue
- $209.5m
- Investments
- $428.8m
- Employees
- 2,303
- 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 06/2021, Franklin & Marshall College employed 2,303 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 6 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 0.6% per year over the past 6 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 47 individual grants totaling $1,842,835. 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
990T
Mission & Program ActivityExcerpts From the 990T 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:
INSTRUCTION: THE COLLEGE GRANTS BACHELOR OF ARTS DEGREES IN 60 FIELDS OF STUDY, WITH A FULL-TIME EQUIVALENT UNDERGRADUATE ENROLLMENT OF 2,182 DURING THE 2021 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.
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 2025 ENROLLED 513 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.
AUXILIARY OPERATIONS: ACADEMIC SUPPORT, RESEARCH, PUBLIC SERVICE, AND INSTITUTIONAL SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara K Altmann PHD President | OfficerTrustee | 60 | $536,449 |
Matthew K Eynon VP For College Advancement | Officer | 60 | $355,375 |
Pierce Buller General Counsel | Officer | 60 | $293,874 |
Cameron B Wesson Provost And Dean Of The Faculty | Officer | 60 | $280,900 |
Alan Caniglia VP For Strategic Initiatives | Officer | 60 | $277,061 |
Margaret Hazlett VP And Dean Of Student Affairs | Officer | 60 | $263,838 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Poole Anderson Construction Llc Construction Svc. | 6/29/21 | $5,512,468 |
Sodexo Inc & Affiliates Food Services Mgmt. | 6/29/21 | $3,576,731 |
Lancaster General Medical Grp Student Health Svcs. | 6/29/21 | $1,448,393 |
Tiaa Kaspick Investment Management | 6/29/21 | $275,195 |
Sheet Metal Specialists Llc Construction Svc. | 6/29/21 | $1,071,657 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,858,277 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,407,658 |
| Noncash contributions included in lines 1a–1f | $4,563,170 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,265,935 |
| Total Program Service Revenue | $148,397,333 |
| 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 organizations and domestic governments. | $147,915 |
| 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 of current officers, directors, key employees. | $1,788,057 |
| 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 | $1,139,307 |
| 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 |
| Net Land, buildings, and equipment | $324,601,141 |
| 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 | $323,027,330 |
| Net assets with donor restrictions | $348,189,938 |
| 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 | $899,256,737 |
Grants Awarded
Over the last fiscal year, Franklin & Marshall College has awarded $142,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lancaster, PA PURPOSE: LANCASTER CITY EDP | $130,000 |
Lancaster, PA PURPOSE: STAGE PRODUCTIONS | $12,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Franklin & Marshall College has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Gipson Family Foundation Raleigh, NC PURPOSE: GENERAL ACTIVITIES | $25,000 |
Endowment Analysis
| Beg. Balance | $326,941,394 |
| Earnings | $129,279,816 |
| Admin Expense | $2,844,936 |
| Net Contributions | $6,268,612 |
| Other Expense | $11,765,973 |
| Grants | $6,558,470 |
| Ending Balance | $441,320,443 |
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 |