Kings College
- Assets
- $274.4m
- Revenue
- $118.4m
- Investments
- $114.8m
- Employees
- 1,089
- Location
- Wilkesbarre, PA
- Founding
- 08/1977
- Data as of
- 06/2021
- EIN
- 24-0804602
Organization Overview
Kings College is located in Wilkesbarre, PA. The organization was established in 1977. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Kings College employed 1,089 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings 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, Kings College generated $118.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $103.5m during the year ending 06/2021. While expenses have increased by 3.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES STUDENTS WITH A LIBERAL ARTS EDUCATION ENABLING THEM TO LEAD MEANINGFUL & SATISFYING LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KING'S COLLEGE IS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION WHICH PROVIDES UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION TO ITS STUDENTS. THE COLLEGE WAS FOUNDED IN 1946 AND WELCOMES STUDENTS INTO ITS COMMUNITY WITHOUT REGARD TO GENDER, RACE, RELIGION, DISABILITY, OR NATIONAL ORIGIN AND SEEKS TO ASSIST TALENTED STUDENTS OF MODEST FINANCIAL MEANS.THE COLLEGE HAS APPROXIMATELY 2,100 STUDENTS, OF WHICH 1,700 ARE FULL-TIME UNDERGRADUATES. APPROXIMATELY 91% OF THE COLLEGE'S PRESENT FULL-TIME UNDERGRADUATE STUDENT BODY IS COMPRISED OF RESIDENTS FROM PENNSYLVANIA, NEW YORK, AND NEW JERSEY.CONTINUED ON SCHEDULE O.DURING THE YEAR ENDED JUNE 30, 2022, THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF $35,324,270.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas R Smith Chair | OfficerTrustee | 3 | $0 |
Kathleen Mccarthy Lambert Vice Chair | OfficerTrustee | 3 | $0 |
Patricia E Sinex Secretary | OfficerTrustee | 3 | $0 |
Richard A Alley MD Director | Trustee | 1 | $0 |
Michael W Bukosky Director | Trustee | 1 | $0 |
Rev John F Denning Csc PHD Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Inc Dining Services | 6/29/22 | $4,088,291 |
Johnson Controls Inc Hvac/fire Inspection Contractor | 6/29/22 | $666,410 |
Panzitta Enterprises Inc General Construction Contractor | 6/29/22 | $572,586 |
Maserah For Educational Services Llc Recruiting Services | 6/29/22 | $417,855 |
3 Enrollment Marketing Enrollment Mgmt Consulting | 6/29/22 | $365,384 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,997,620 |
| Investment income | $926,078 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,580 |
| Net Gain/Loss on Asset Sales | $11,562,866 |
| Net Income from Fundraising Events | -$1,291 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,353,435 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $37,862,894 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,075,484 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,869,461 |
| Pension plan accruals and contributions | $1,803,017 |
| Other employee benefits | $6,539,313 |
| Payroll taxes | $1,982,911 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,933 |
| Fees for services: Accounting | $109,900 |
| Fees for services: Lobbying | $45,716 |
| Fees for services: Fundraising | $27,969 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,330,433 |
| Advertising and promotion | $581,467 |
| Office expenses | $3,314,585 |
| Information technology | $1,393,511 |
| Royalties | $0 |
| Occupancy | $2,899,476 |
| Travel | $159,592 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,140 |
| Interest | $2,560,427 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,920,629 |
| Insurance | $551,046 |
| All other expenses | $0 |
| Total functional expenses | $103,504,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,082,905 |
| Savings and temporary cash investments | $10,663,718 |
| Pledges and grants receivable | $3,268,072 |
| Accounts receivable, net | $4,563,402 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,596,045 |
| Inventories for sale or use | $2 |
| Prepaid expenses and deferred charges | $118,213 |
| Investments—publicly traded securities | $7,661,426 |
| Investments—other securities | $114,788,236 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,937,531 |
| Total assets | $274,438,730 |
| Accounts payable and accrued expenses | $8,779,216 |
| Grants payable | $0 |
| Deferred revenue | $2,454,743 |
| Tax-exempt bond liabilities | $60,128,302 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,305,048 |
| Total liabilities | $76,667,309 |
| 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 | $197,771,421 |