Alma College
- Assets
- $267.0m
- Revenue
- $86.9m
- Investments
- $21.5m
- Employees
- 1,133
- Location
- Alma, MI
- Founding
- 02/1942
- Data as of
- 06/2021
- EIN
- 38-1359083
Organization Overview
Alma College is located in Alma, MI. 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, Alma College employed 1,133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alma 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, Alma College generated $86.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $85.6m during the year ending 06/2021. While expenses have increased by 1.9% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ALMA COLLEGE'S MISSION IS TO PREPARE GRADUATES WHO THINK CRITICALLY, SERVE GENEROUSLY, LEAD PURPOSEFULLY, AND LIVE RESPONSIBLY AS STEWARDS
Describe the Organization's Program Activity:
SCHOLARSHIPS AND AWARDS TO STUDENTS OFFSET THE COST OF TUITION. INSTRUCTION PROVIDED TO STUDENTS BY HIGHLY QUALIFIED FACULTY AND ASSISTANTS. HOUSING AND FOOD SERVICE PROVIDED TO STUDENTS. ALMA COLLEGE IS A RESIDENTIAL LIBERALS ARTS COLLEGE WITH APPROXIMATELY 96% OF STUDENTS LIVING AND EATING ON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jeffrey Abernathy President | Officer | 60 | $314,310 |
Alan Gatlin Chief Operating Officer | Officer | 60 | $253,260 |
Amanda Slenski VP Of Enrollment And Special Assistant To The President | Officer | 60 | $222,638 |
Matthew Vandenberg VP Of Advancement | Officer | 60 | $180,385 |
Kathleen Dougherty Provost | Officer | 60 | $158,638 |
Jeffrey Swears CFO | Officer | 60 | $142,684 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Management Resources Housekeeping And Grounds | 6/29/21 | $1,842,747 |
Sodexo Management Food Services | 6/29/21 | $2,537,269 |
Ark Laboratory Llc Covid Testing | 6/29/21 | $612,690 |
Eiiia Insurance | 6/29/21 | $512,579 |
Mann's Painting Painting | 6/29/21 | $474,745 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,905,004 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,078,021 |
| Noncash contributions included in lines 1a–1f | $530,167 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,983,025 |
| Total Program Service Revenue | $73,344,864 |
| Investment income | $3,385,868 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,287 |
| Net Rental Income | $125,393 |
| Net Gain/Loss on Asset Sales | -$4,134,971 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,310 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,854,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,953,170 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,240,657 |
| Compensation of current officers, directors, key employees. | $666,574 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,640,411 |
| Pension plan accruals and contributions | $1,133,431 |
| Other employee benefits | $4,120,997 |
| Payroll taxes | $1,229,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105,069 |
| Fees for services: Accounting | $98,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $427,187 |
| Fees for services: Other | $1,131,380 |
| Advertising and promotion | $2,713,297 |
| Office expenses | $1,607,508 |
| Information technology | $434,505 |
| Royalties | $0 |
| Occupancy | $1,838,014 |
| Travel | $523,986 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,362 |
| Interest | $1,866,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,921,213 |
| Insurance | $676,610 |
| All other expenses | $26,428 |
| Total functional expenses | $85,578,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,466 |
| Savings and temporary cash investments | $8,819,482 |
| Pledges and grants receivable | $8,931,102 |
| Accounts receivable, net | $1,483,258 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,618,399 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,728,259 |
| Net Land, buildings, and equipment | $86,728,545 |
| Investments—publicly traded securities | $131,147,118 |
| Investments—other securities | $21,498,448 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,058,640 |
| Total assets | $267,015,717 |
| Accounts payable and accrued expenses | $5,895,828 |
| Grants payable | $0 |
| Deferred revenue | $3,001,942 |
| Tax-exempt bond liabilities | $7,950,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $41,621,371 |
| Unsecured mortgages and notes payable | $1,917,962 |
| Other liabilities | $1,907,668 |
| Total liabilities | $62,294,771 |
| Net assets without donor restrictions | $44,431,885 |
| Net assets with donor restrictions | $160,289,061 |
| 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 | $267,015,717 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Alma College has recieved totaling $8,346.
| Awarding Organization | Amount |
|---|---|
Howard H & Ivah Sawvel Hoffmeyer Irrv Charitable Tr Ua 092085 Midland, MI PURPOSE: EDUCATIONAL | $8,346 |
Endowment Analysis
| Beg. Balance | $121,623,175 |
| Earnings | $31,900,541 |
| Admin Expense | $615,845 |
| Net Contributions | $657,663 |
| Grants | $3,165,000 |
| Ending Balance | $150,400,534 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Denison University Granville, OH | $1,502,847,785 | $275,909,448 |
Indiana Wesleyan University Marion, IN | $535,078,455 | $212,201,058 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Hillsdale College Hillsdale, MI | $1,230,310,896 | $287,422,849 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
College Of Wooster Wooster, OH | $694,683,910 | $184,916,713 |
Hope College Holland, MI | $493,947,019 | $161,551,169 |
Ohio Northern University Ada, OH | $417,060,447 | $166,164,613 |
The Cedarville University Cedarville, OH | $257,715,774 | $182,725,706 |
Kenyon College Gambier, OH | $1,026,131,356 | $159,022,032 |
Marian University Indianapolis, IN | $323,995,376 | $176,218,802 |