Hope College
- Assets
- $551.2m
- Revenue
- $188.5m
- Investments
- $171.9m
- Employees
- 2,950
- Location
- Holland, MI
- Founding
- 06/1938
- Data as of
- 06/2022
- EIN
- 38-1381271
Organization Overview
Hope College is located in Holland, MI. The organization was established in 1938. 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, Hope College employed 2,950 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope 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, Hope College generated $188.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $176.5m during the year ending 06/2022. While expenses have increased by 2.3% 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
THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH.
Describe the Organization's Program Activity:
THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 2,967 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2021 AND 2,797 IN THE SPRING OF 2022. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS.
THE ORGANIZATION IS INVOLVED IN RESEARCH TO MAINTAIN ONE OF THE TOP CHEMISTRY & BIOLOGY DEPTS IN THE COUNTRY, UTILIZE RESEARCH AS A TEACHING TOOL IN THE CLASSROOM & TO FACILITATE LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Scogin President | OfficerTrustee | 50 | $252,375 |
Dr Llena Chavis Trustee/faculty | Trustee | 40 | $77,650 |
Dr Matthew Wixson Vice Chair | OfficerTrustee | 1 | $0 |
Dr Stephen Boerigter Secretary | OfficerTrustee | 1 | $0 |
Karl Droppers Chairperson | OfficerTrustee | 1 | $0 |
Carol Vanandel Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Dining Service Food Service Management | 6/29/22 | $9,525,441 |
Lakewood Construction Company Construction Services | 6/29/22 | $2,458,177 |
Holland Superior Hospitality Llc Housing Services | 6/29/22 | $719,838 |
Cambridge Associates Investment Consultant | 6/29/22 | $596,590 |
Midwest Construction Group Inc Construction Services | 6/29/22 | $1,548,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,786,089 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,505,296 |
| Noncash contributions included in lines 1a–1f | $1,320,705 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,291,385 |
| Total Program Service Revenue | $142,220,228 |
| Investment income | $21,045,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$468,506 |
| Net Gain/Loss on Asset Sales | $79,677 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,512,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $52,402,680 |
| Grants and other assistance to Foreign Orgs/Individuals | $222,847 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,223,864 |
| Compensation of current officers, directors, key employees. | $109,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,486,773 |
| Pension plan accruals and contributions | $4,170,000 |
| Other employee benefits | $6,774,622 |
| Payroll taxes | $3,710,630 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $233,469 |
| Fees for services: Accounting | $94,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,455,344 |
| Fees for services: Other | $2,243,879 |
| Advertising and promotion | $828,743 |
| Office expenses | $6,059,820 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,690,876 |
| Travel | $2,826,419 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $136,328 |
| Interest | $1,219,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,877,176 |
| Insurance | $723,677 |
| All other expenses | $3,692,547 |
| Total functional expenses | $176,485,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $44,145,001 |
| Pledges and grants receivable | $14,241,623 |
| Accounts receivable, net | $6,937,448 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $960,098 |
| Prepaid expenses and deferred charges | $1,069,654 |
| Net Land, buildings, and equipment | $210,163,843 |
| Investments—publicly traded securities | $101,819,141 |
| Investments—other securities | $171,850,546 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $551,187,354 |
| Accounts payable and accrued expenses | $11,276,516 |
| Grants payable | $0 |
| Deferred revenue | $275,519 |
| Tax-exempt bond liabilities | $29,085,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,757,144 |
| Total liabilities | $58,394,179 |
| Net assets without donor restrictions | $233,303,383 |
| Net assets with donor restrictions | $259,489,792 |
| 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 | $551,187,354 |