Harcum College
- Assets
- $28.1m
- Revenue
- $27.7m
- Investments
- $0.0
- Employees
- 553
- Location
- Bryn Mawr, PA
- Founding
- 03/1954
- Data as of
- 06/2023
- EIN
- 23-1424055
Organization Overview
Harcum College is located in Bryn Mawr, PA. The organization was established in 1954. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Harcum College employed 553 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harcum 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 06/2023, Harcum College generated $27.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $32.8m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES ITS STUDENTS WITH AN OPPORTUNITY FOR OUTSTANDING ACADEMIC, CAREER AND LIFE PREPARATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARCUM COLLEGE PROVIDES ITS STUDENTS WITH AN OPPORTUNITY FOR OUTSTANDING ACADEMIC, CAREER, AND LIFE PREPARATION. WE TEACH, MENTOR, AND PREPARE STUDENTS FOR SUCCESS IN THEIR CHOSEN PROFESSIONS IN AN EXPERIENTIAL ENVIRONMENT. HARCUM'S CORE VALUES OF EXCELLENCE, CIVILITY, EMPOWERMENT, INTEGRITY, COMMUNITY SERVICE, AND RESPECT FOR DIVERSITY ASSURE THAT EVERY STUDENT IS VALUED AND SUPPORTED. HARCUM COLLEGE IS A PRIVATE, COEDUCATIONAL, FULLY ACCREDITED, RESIDENTIAL AND COMMUTER COLLEGE IN BRYN MAWR, PA WHICH OFFERS 27 CAREER-READY ASSOCIATE'S DEGREE PROGRAMS. CAREER-INFORMED PROGRAMS ARE OFFERED ON CAMPUS, ONLINE AND OFF-CAMPUS AT PARTNERSHIP SITES THROUGHOUT PENNSYLVANIA. STUDENT ATHLETES COMPETE AT THE NJCAA IN VARIOUS SPORTS. THE COLLEGE CURRENTLY SERVES APPROXIMATELY 1,200 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Alexander Klein Chairman | OfficerTrustee | 1 | $0 |
Louise Strauss Vice-Chair | OfficerTrustee | 1 | $0 |
Denis C Boyle Vice-Chair | OfficerTrustee | 1 | $0 |
Karl Thallner Secretary | OfficerTrustee | 1 | $0 |
David M Jacobson Treasurer | OfficerTrustee | 1 | $0 |
Dennis Marlo Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aloysius Butler & Clark Advertising & Marketing Services | 6/29/23 | $287,397 |
Liason International Llc Marketing Services | 6/29/23 | $131,875 |
Baker Tilly Us Llp Audit & Tax Services | 6/29/23 | $102,239 |
Razor Technology Hosting Service | 6/29/23 | $100,767 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $89,613 |
| Related organizations | $0 |
| Government grants | $1,661,622 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,080,698 |
| Noncash contributions included in lines 1a–1f | $337,611 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,831,933 |
| Total Program Service Revenue | $23,991,445 |
| Investment income | $530,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,500 |
| Net Gain/Loss on Asset Sales | -$263,125 |
| Net Income from Fundraising Events | -$4,731 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $25,779 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,732,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,633,440 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $426,578 |
| Compensation of current officers, directors, key employees. | $426,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,542,859 |
| Pension plan accruals and contributions | $247,883 |
| Other employee benefits | $1,159,523 |
| Payroll taxes | $957,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,552 |
| Fees for services: Accounting | $118,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,272 |
| Fees for services: Other | $2,409,807 |
| Advertising and promotion | $330,406 |
| Office expenses | $970,039 |
| Information technology | $414,200 |
| Royalties | $0 |
| Occupancy | $2,549,017 |
| Travel | $215,491 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,764 |
| Interest | $85,207 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $666,261 |
| Insurance | $238,366 |
| All other expenses | $365,897 |
| Total functional expenses | $32,828,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,742 |
| Savings and temporary cash investments | $84,274 |
| Pledges and grants receivable | $5,202,030 |
| Accounts receivable, net | $698,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,448 |
| Prepaid expenses and deferred charges | $628,630 |
| Net Land, buildings, and equipment | $3,867,888 |
| Investments—publicly traded securities | $13,929,208 |
| Investments—other securities | $0 |
| Investments—program-related | $1,254,128 |
| Intangible assets | $0 |
| Other assets | $2,155,404 |
| Total assets | $28,087,750 |
| Accounts payable and accrued expenses | $2,398,872 |
| Grants payable | $0 |
| Deferred revenue | $112,236 |
| 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 | $41,143 |
| Unsecured mortgages and notes payable | $2,212,315 |
| Other liabilities | $4,134,247 |
| Total liabilities | $8,898,813 |
| Net assets without donor restrictions | $16,416,108 |
| Net assets with donor restrictions | $2,772,829 |
| 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 | $28,087,750 |