Lycoming College
- Assets
- $298.8m
- Revenue
- $89.4m
- Investments
- $2.9m
- Employees
- 1,004
- Location
- Williamsport, PA
- Founding
- 08/1944
- Data as of
- 06/2022
- EIN
- 24-0795965
Organization Overview
Lycoming College is located in Williamsport, PA. The organization was established in 1944. 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, Lycoming College employed 1,004 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lycoming 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, Lycoming College generated $89.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $85.6m during the year ending 06/2022. While expenses have increased by 2.6% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES.
Describe the Organization's Program Activity:
LYCOMING COLLEGE IS A FOUR-YEAR LIBERAL ARTS BASED, CO-EDUCATIONAL, INDEPENDENT COLLEGE WHOSE PRIMARY FUNCTION IS THE PRESENTATION OF FORMAL INSTRUCTION. THE COLLEGE HAS A REGULAR FACULTY, A REGULARLY SCHEDULED CURRICULUM (CONSISTING OF FALL, SPRING, MAY AND SUMMER TERM), AND A REGULARLY ENROLLED STUDENT BODY IN ATTENDANCE AT ITS CAMPUS LOCATED IN WILLIAMSPORT, PENNSYLVANIA. THE COLLEGE'S AREAS OF CONCENTRATION INCLUDE BACHELOR OF ARTS DEGREES IN 32 MAJOR FIELDS AND BACHELOR OF SCIENCE DEGREES IN 5 MAJOR FIELDS. PROGRAM SERVICES OF THE COLLEGE INCLUDE THE COST OF INSTRUCTION, ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SUPPORT, AND SCHOLARSHIPS. CONTINUED ON SCHEDULE OTHE COST OF INSTRUCTION INCLUDES EXPENSES CONTRIBUTING DIRECTLY TO THE PRESENTATION OF FORMAL INSTRUCTION FOR THE 37 AFOREMENTIONED MAJORS.ACADEMIC SUPPORT IS ALL EXPENSES RELATED TO THOSE AREAS OF THE COLLEGE SUCH AS THE COLLEGE LIBRARY, COMPUTER CENTER, ACADEMIC RESOURCE CENTER, THE INSTITUTION FOR MANAGEMENT STUDIES, AND CENTER FOR ACADEMIC EXPERIENCES. STUDENT SERVICES ARE ALL OF THE EXPENSES SPECIFICALLY RELATED TO PROVIDING "OUR CUSTOMER", THE STUDENT, WITH A COMPLETE COLLEGE EXPERIENCE. SUCH AREAS WOULD INCLUDE THE REGISTRAR, COMMUNITY SERVICES, HEALTH SERVICES, RECREATION CENTER, ATHLETICS, COUNSELING SERVICES, ADMISSIONS, FINANCIAL AID, RELIGIOUS ACTIVITIES, OFFICE OF STUDENT PROGRAMS, AND THE DEAN OF STUDENTS. INSTITUTIONAL SUPPORT INCLUDES ALL EXPENSES OF MAINTAINING THE CAMPUS FACILITIES AND PROVIDING FOR ITS EMPLOYEES, SUCH AS BUILDINGS AND GROUNDS, SECURITY, OFFICE OF THE PRESIDENT, BUSINESS OFFICE, HUMAN RESOURCES, MAIL SERVICES, COLLEGE RELATIONS, ETC.STUDENT FINANCIAL AID FROM INTERNAL SOURCES REPRESENTED APPROXIMATELY 78% OF GROSS TUITION AND FEE REVENUE. IN ADDITION TO SOURCES OF INTERNAL AND EXTERNAL FINANCIAL AID, AND THE LYCOMING GRANT PROGRAM (NEED-BASED), LYCOMING COLLEGE OFFERS NUMEROUS SCHOLARSHIPS TO ACADEMICALLY TALENTED STUDENTS. MOST ACADEMIC SCHOLARSHIPS ARE AUTOMATICALLY RENEWED IN THEIR ORIGINAL AMOUNT FOR THE FOLLOWING YEAR PROVIDED THE STUDENT MAINTAINS SATISFACTORY ACADEMIC PROGRESS AS DEFINED IN THE COLLEGE CATALOG. ENROLLMENT FOR THE 2021-2022 ACADEMIC YEAR WAS APPROXIMATELY 1,059 FULL-TIME EQUIVALENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Mark Fultz Chairman | OfficerTrustee | 1 | $0 |
Donald W Hughes Vice Chairman | OfficerTrustee | 1 | $0 |
Ann S Pepperman ESQ Assistant Secretary | OfficerTrustee | 1 | $0 |
Leigh T Howe Secretary | OfficerTrustee | 1 | $0 |
Brian L Belz Assistant Secretary | OfficerTrustee | 1 | $0 |
Robert W Bucknam Jr Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alexander Building Construction Building Contractor | 6/29/22 | $4,636,151 |
Turnkey Construction Inc Building Contractor | 6/29/22 | $1,277,845 |
Parkhurst Dining Services Contracted Food Svcs | 6/29/22 | $4,316,283 |
R&j Ertel Inc Plumbing/heat Contractor | 6/29/22 | $903,457 |
Eab Student Marketing Svcs | 6/29/22 | $727,095 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $10,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,368,369 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,989,317 |
| Noncash contributions included in lines 1a–1f | $8,592,077 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,367,686 |
| Total Program Service Revenue | $58,566,169 |
| Investment income | $2,010,875 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,588 |
| Net Gain/Loss on Asset Sales | $4,787,712 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $50,542 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,358,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $35,006,840 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,559,315 |
| Compensation of current officers, directors, key employees. | $1,171,157 |
| Compensation to disqualified persons | $25,000 |
| Other salaries and wages | $17,195,759 |
| Pension plan accruals and contributions | $1,227,696 |
| Other employee benefits | $4,620,354 |
| Payroll taxes | $1,201,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,631 |
| Fees for services: Accounting | $141,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $194,385 |
| Fees for services: Other | $5,652,038 |
| Advertising and promotion | $1,297,345 |
| Office expenses | $4,646,463 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,611,904 |
| Travel | $740,798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,146,840 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,701,138 |
| Insurance | $878,508 |
| All other expenses | $3,197,518 |
| Total functional expenses | $85,552,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,812,504 |
| Savings and temporary cash investments | $1,032,302 |
| Pledges and grants receivable | $5,302,370 |
| Accounts receivable, net | $37,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $719,616 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $85,410,236 |
| Investments—publicly traded securities | $194,335,830 |
| Investments—other securities | $2,888,843 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,263,699 |
| Total assets | $298,802,634 |
| Accounts payable and accrued expenses | $2,539,258 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $38,240,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $761,600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,161,076 |
| Total liabilities | $49,701,934 |
| Net assets without donor restrictions | $185,588,700 |
| Net assets with donor restrictions | $63,512,000 |
| 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 | $298,802,634 |