Westminster College
- Assets
- $236.6m
- Revenue
- $71.6m
- Investments
- $21.8m
- Employees
- 823
- Location
- New Wilmington, PA
- Founding
- 02/1934
- Data as of
- 06/2022
- EIN
- 25-0981156
Organization Overview
Westminster College is located in New Wilmington, 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 06/2023, Westminster College employed 823 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster 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, Westminster College generated $71.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $67.4m during the year ending 06/2022. While expenses have increased by 1.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE EDUCATION, THE DEVELOPMENT OF SKILLS, KNOWLEDGE, AND PERSONAL QUALITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - FACULTY AND RELATED EXPENDITURES FOR COURSES OF STUDY. WESTMINSTER COLLEGE OFFERS APPROXIMATELY 40 MAJORS AND SERVED 1188 UNDERGRADUATE AND GRADUATE STUDENTS DURING FISCAL YEAR 2023, LEADING TO BACHELOR OF ARTS, BACHELOR OF SCIENCE, BACHELOR OF SCIENCE IN NURSING, BACHELOR OF MUSIC, MASTERS OF EDUCATION, MASTERS IN CLINICAL MENTAL HEALTH COUNSELING, AND MASTERS IN BUSINESS ADMINISTRATION DEGREES.
ACADEMIC SUPPORT - SUPPORT FOR INSTRUCTION AND RESEARCH BY THE FOLLOWING DEPARTMENTS: DEAN OF THE COLLEGE, LIBRARY, INFORMATION TECHNOLOGY SERVICES, FACULTY DEVELOPMENT, ART GALLERY, HONORS PROGRAM, CHEMICAL HYGIENE, CULTURAL ARTIFACTS AND ACADEMIC SUCCESS CENTER.
STUDENT SERVICES - NON-ACADEMIC SUPPORT SERVICES PROVIDED TO THE STUDENT BODY BY THE FOLLOWING DEPARTMENTS: STUDENT AFFAIRS OFFICE, OFFICE OF FAITH AND SPIRITUALITY, REGISTRAR, ADMISSIONS, FINANCIAL AID, PROFESSIONAL DEVELOPMENT AND COMMUNITY ENGAGEMENT, ATHLETICS, WELLNESS CENTER, OFFICE OF DIVERSITY AND INCLUSION, THEATRE PRODUCTIONS AND RADIO AND TV PRODUCTION.
EDUCATIONAL AND AUXILIARY ENTERPRISE - PROVIDE FOOD AND HOUSING FOR RESIDENT STUDENTS, TELEPHONE SYSTEM, THE CAMPUS STORE, SUMMER CAMPS AND ACTIVITIES AND TEMPORARY FACULTY/STAFF HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kathy Brittain Richardson President | OfficerTrustee | 40 | $444,623 |
Ashley E Davis Vice Chair | OfficerTrustee | 2 | $0 |
Jeffrey A Mccandless Chair | OfficerTrustee | 3 | $0 |
Jennifer L Bertetto Trustee | Trustee | 1.5 | $0 |
Anthony Brown Trustee | Trustee | 1.5 | $0 |
Randall Bush Trustee | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Services | 6/29/23 | $2,963,709 |
Thomas Construction Inc Construction | 6/29/23 | $348,451 |
Slippery Rock Comm Rfg Contractors Construction | 6/29/23 | $358,470 |
Upmc Jameson School Of Nursing Instructional Services | 6/29/23 | $328,952 |
Hewlett-packard Financial Services Leased Equipment | 6/29/23 | $291,746 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,179,454 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,862,244 |
| Noncash contributions included in lines 1a–1f | $308,319 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,041,698 |
| Total Program Service Revenue | $51,138,744 |
| Investment income | $6,600,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $57,614 |
| Net Gain/Loss on Asset Sales | $588,599 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $135,611 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,562,390 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,270 |
| Grants and other assistance to domestic individuals. | $26,946,667 |
| Grants and other assistance to Foreign Orgs/Individuals | $32,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,016,344 |
| Compensation of current officers, directors, key employees. | $368,805 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,074,107 |
| Pension plan accruals and contributions | $529,288 |
| Other employee benefits | $3,082,454 |
| Payroll taxes | $1,016,404 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,136 |
| Fees for services: Accounting | $113,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $196,648 |
| Fees for services: Other | $1,527,198 |
| Advertising and promotion | $215,186 |
| Office expenses | $3,476,203 |
| Information technology | $1,059,115 |
| Royalties | $0 |
| Occupancy | $2,407,128 |
| Travel | $1,073,001 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97,241 |
| Interest | $1,378,887 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,268,593 |
| Insurance | $533,407 |
| All other expenses | $1,700,707 |
| Total functional expenses | $67,394,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,464,024 |
| Savings and temporary cash investments | $1,777,188 |
| Pledges and grants receivable | $303,160 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,416,669 |
| Inventories for sale or use | $337,697 |
| Prepaid expenses and deferred charges | $1,391,247 |
| Net Land, buildings, and equipment | $97,286,408 |
| Investments—publicly traded securities | $109,613,292 |
| Investments—other securities | $21,827,655 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $188,503 |
| Total assets | $236,605,843 |
| Accounts payable and accrued expenses | $1,448,696 |
| Grants payable | $0 |
| Deferred revenue | $1,838,791 |
| Tax-exempt bond liabilities | $29,163,665 |
| 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 | $7,563,887 |
| Total liabilities | $40,015,039 |
| Net assets without donor restrictions | $68,569,114 |
| Net assets with donor restrictions | $128,021,690 |
| 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 | $236,605,843 |
Grants Awarded
Over the last fiscal year, Westminster College has awarded $67,270 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT PURPOSE: GENERAL SUPPORT | $6,270 |
NEW WILMINGTON ECONOMIC DEVELOPMENT CORPORATION PURPOSE: BOROUGH RENOVATION/REVITALIZATION AND AMPHITHEATER SUPPORT | $61,000 |