Lafayette College
- Assets
- $1.4b
- Revenue
- $228.5m
- Investments
- $674.7m
- Employees
- 2,275
- Location
- Easton, PA
- Founding
- 12/1942
- Data as of
- 06/2020
- EIN
- 24-0795686
Organization Overview
Lafayette College is located in Easton, PA. The organization was established in 1942. 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, Lafayette College employed 2,275 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette 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 06/2020, Lafayette College generated $228.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $228.6m during the year ending 06/2020. While expenses have increased by 2.5% 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, Lafayette College has awarded 16 individual grants totaling $248,533. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF EDUCATIONAL SERVICES AS AN ACCREDITED FOUR-YEAR UNDERGRADUATE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAFAYETTE COLLEGE IS A LIBERAL ARTS COLLEGE OFFERING BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN FOUR DISCIPLINES IN HUMANITIES, ENGINEERING, NATURAL SCIENCES, AND SOCIAL SCIENCES. IN FALL 2020, THE 2,514 FULL-TIME STUDENTS CAME FROM 34 STATES AND 27 COUNTRIES. THE STUDENT-TO-FACULTY RATIO AT THE COLLEGE IS APPROXIMATELY 10 TO 1. OF THE 243 FULL-TIME FACULTY, 239 HOLD A DOCTORATE OR OTHER TERMINAL DEGREE. APPROXIMATELY 47% OF THE STUDENTS ATTENDING LAFAYETTE COLLEGE RECEIVE FINANCIAL ASSISTANCE. 604 STUDENTS WERE AWARDED AN UNDERGRADUATE DEGREE. LAFAYETTE COLLEGE HAS A FOUR-YEAR GRADUATION RATE OF 85% AND SIX-YEAR GRADUATION RATE OF 88%. APPROXIMATELY 94% OF THE COLLEGE'S GRADUATES WERE EMPLOYED, IN GRADUATE SCHOOL, OR SECURED INTERNSHIPS WITHIN 6 MONTHS AFTER GRADUATION.
AS A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS COMPLEMENT THEIR ACADEMIC SCHOLARSHIP WITH A MYRIAD OF OPPORTUNITIES TO CONNECT WITH ONE ANOTHER AND LEARN FROM THE LARGE WORLD REPRESENTED ON THE COLLEGE'S CAMPUS. AS PART OF THEIR EXPERIENCE AT A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS ARE DEEPLY ENGAGED ACADEMICALLY AND HAVE SIGNIFICANT OPPORTUNITIES TO ENGAGE IN A VAST OFFERING OF EXTRACURRICULAR AND CO-CURRICULAR POSSIBILITIES. LAFAYETTE COLLEGE OFFERS MORE THAN 250 STUDENT CLUBS AND ORGANIZATIONS, 23 NCAA DIVISION 1 ATHLETIC PROGRAMS, AND NUMEROUS EXPERIENCES IN THE FINE ARTS AND PERFORMING ARTS ALL OF WHICH ARE COMPLEMENTED BY A STRONG STUDENT LIFE PROGRAM THAT ENHANCES THE LAFAYETTE EXPERIENCE BEYOND THE CLASSROOM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alison R Byerly President | OfficerTrustee | 50 | $616,685 |
Mervin A Burton Director Of Investments | 50 | $455,192 | |
Roger A Demareski VP Finance & Admin/treasurer | Officer | 50 | $452,323 |
Joseph S Bohrer Former Officer | 50 | $345,785 | |
Saiyid A Rizvi Professor Of Economics | 50 | $342,937 | |
Leslie F Muhlfelder VP Human Resources, General Counsel | Officer | 50 | $323,864 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Management Company Dining Services | 6/29/21 | $6,767,207 |
Wohlsen Construction Construction Services | 6/29/21 | $3,159,213 |
Del Valley Properties Inc Construction | 6/29/21 | $1,983,084 |
Coordinated Health Systems Corp Medical Services | 6/29/21 | $1,708,828 |
Csi International Inc Custodial Services | 6/29/21 | $851,474 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,135,118 |
| Investment income | -$34,268,727 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $413,781 |
| Net Gain/Loss on Asset Sales | $64,044,178 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$198,022 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $228,460,340 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $56,615,668 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,097,548 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,886,794 |
| Pension plan accruals and contributions | $6,386,971 |
| Other employee benefits | $10,797,069 |
| Payroll taxes | $5,228,969 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $903,925 |
| Fees for services: Accounting | $157,779 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $163,391 |
| Fees for services: Investment Management | $612,012 |
| Fees for services: Other | $12,535,906 |
| Advertising and promotion | $75,972 |
| Office expenses | $2,177,747 |
| Information technology | $2,793,074 |
| Royalties | $0 |
| Occupancy | $4,291,465 |
| Travel | $4,570,885 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,265,126 |
| Interest | $10,294,186 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,646,141 |
| Insurance | $1,800,034 |
| All other expenses | $0 |
| Total functional expenses | $228,590,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,292 |
| Savings and temporary cash investments | $66,897,772 |
| Pledges and grants receivable | $15,032,538 |
| Accounts receivable, net | $2,468,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $659,226 |
| Prepaid expenses and deferred charges | $1,976,627 |
| Investments—publicly traded securities | $219,502,151 |
| Investments—other securities | $674,745,193 |
| Investments—program-related | $2,492,613 |
| Intangible assets | $0 |
| Other assets | $1,271,808 |
| Total assets | $1,381,563,896 |
| Accounts payable and accrued expenses | $12,142,394 |
| Grants payable | $882,491 |
| Deferred revenue | $5,520,221 |
| Tax-exempt bond liabilities | $270,592,055 |
| Escrow or custodial account liability | $3,618,441 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,429,480 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $80,077,569 |
| Total liabilities | $376,262,651 |
| 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 | $1,005,301,245 |
Grants Awarded
Over the last fiscal year, Lafayette College has awarded $75,045 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
New Haven, CT PURPOSE: NIH GRANT | $9,924 |
New Haven, CT PURPOSE: NIH GRANT | $9,924 |
New Haven, CT PURPOSE: NIH GRANT | $9,924 |
Bethlehem, PA PURPOSE: NIH GRANT | $7,967 |
Bethlehem, PA PURPOSE: NIH GRANT | $7,967 |
Bethlehem, PA PURPOSE: NIH GRANT | $7,967 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lafayette College has recieved totaling $27,500.
| Awarding Organization | Amount |
|---|---|
Jts Foundation Berwyn, PA PURPOSE: CHARITABLE ACTIVITIES | $26,500 |
Donald Janssen Sr Memorial Foundation Inc Medford, NJ PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $862,906,493 |
| Earnings | $248,378,756 |
| Net Contributions | $14,744,584 |
| Other Expense | $31,456,395 |
| Grants | $9,542,677 |
| Ending Balance | $1,085,030,761 |
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 |