Westminster College
- Assets
- $228.1m
- Revenue
- $82.9m
- Investments
- $106.6m
- Employees
- 1,026
- Location
- Salt Lake City, UT
- Founding
- 04/1941
- Data as of
- 06/2021
- EIN
- 87-0212470
Organization Overview
Westminster College is located in Salt Lake City, UT. The organization was established in 1941. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Westminster College employed 1,026 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 06/2021, Westminster College generated $82.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $86.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 6 years. 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
WESTMINSTER COLLEGE IS A PRIVATE COMPREHENSIVE LIBERAL ARTS COLLEGE IN SALT LAKE CITY, UT OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS.
Describe the Organization's Program Activity:
INSTRUCTION: 1,973 STUDENTS IN UNDERGRADUATE AND GRADUATE PROGRAMS677 STUDENTS GRADUATED IN THE 2020-2021 ACADEMIC YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bethami Dobkin President | OfficerTrustee | 40 | $386,350 |
Deborah Tahmassebi Provost | Officer | 40 | $267,739 |
Erica Johnson VP Enrollment | Officer | 40 | $209,004 |
Kathryn Holmes General Counsel & Cro | 40 | $204,400 | |
Daniel Lewis VP Institutional Advancement | Officer | 40 | $200,000 |
Orn Bodvarsson Dean, Business | 40 | $180,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riverpark Sugarhouse Llc Lease | 6/29/21 | $1,537,765 |
Presidio Networked Solutions Llc It Network Support | 6/29/21 | $457,038 |
Prager Co Llc Advisor Services | 6/29/21 | $330,000 |
K-j Camden Llc Lease | 6/29/21 | $213,445 |
American Mechanical Systems Maintenance & Repair | 6/29/21 | $196,106 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $675,137 |
| Government grants | $6,145,503 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,121,706 |
| Noncash contributions included in lines 1a–1f | $822,202 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,942,346 |
| Total Program Service Revenue | $64,547,791 |
| Investment income | $199,508 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $357 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,034,755 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,856,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,332,094 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,172 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,580,800 |
| Compensation of current officers, directors, key employees. | $1,228,592 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,444,427 |
| Pension plan accruals and contributions | $631,751 |
| Other employee benefits | $5,433,156 |
| Payroll taxes | $2,045,225 |
| Fees for services: Management | $8,780 |
| Fees for services: Legal | $153,992 |
| Fees for services: Accounting | $120,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,173,163 |
| Advertising and promotion | $147,376 |
| Office expenses | $2,514,056 |
| Information technology | $1,182,751 |
| Royalties | $2,760 |
| Occupancy | $1,506,436 |
| Travel | $398,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,799 |
| Interest | $2,276,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,428,205 |
| Insurance | $637,808 |
| All other expenses | $3,961,647 |
| Total functional expenses | $86,044,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,419,550 |
| Pledges and grants receivable | $10,687,224 |
| Accounts receivable, net | $1,733,990 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,045,770 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,266,890 |
| Net Land, buildings, and equipment | $78,492,165 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $106,627,858 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,867,277 |
| Total assets | $228,140,724 |
| Accounts payable and accrued expenses | $4,836,639 |
| Grants payable | $0 |
| Deferred revenue | $1,309,084 |
| Tax-exempt bond liabilities | $18,376,986 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $194,559 |
| Unsecured mortgages and notes payable | $6,762,900 |
| Other liabilities | $16,306,303 |
| Total liabilities | $47,786,471 |
| Net assets without donor restrictions | $53,261,993 |
| Net assets with donor restrictions | $127,092,260 |
| 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 | $228,140,724 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Westminster College has recieved totaling $18,000.
| Awarding Organization | Amount |
|---|---|
Decoo Academic Foundation Salt Lake City, UT PURPOSE: SUPPORT EDUCATION PROGRAM | $10,000 |
Edward L Burton Foundation Salt Lake City, UT PURPOSE: EDUCATION | $8,000 |
Endowment Analysis
| Beg. Balance | $85,358,633 |
| Earnings | $24,585,107 |
| Net Contributions | $697,048 |
| Other Expense | $13,219,486 |
| Ending Balance | $97,421,302 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Governors University Salt Lake City, UT | $621,679,021 | $1,020,118,520 |
University Of Denver Denver, CO | $1,851,080,134 | $716,746,092 |
Colorado College Th Colorado Springs, CO | $1,436,368,887 | $272,135,370 |
Colorado Christian University Lakewood, CO | $209,184,002 | $148,957,888 |
Westminster College Salt Lake City, UT | $228,140,724 | $82,856,817 |
The American University Of Paris Inc Denver, CO | $83,974,222 | $36,441,184 |
Naropa University Boulder, CO | $34,704,482 | $31,100,655 |
Prescott College Inc Prescott, AZ | $32,109,513 | $27,987,581 |
Campus Research Corporation Tucson, AZ | $42,821,356 | $14,706,755 |
Hsdl Llc Provo, UT | $2,946,169 | $10,965,696 |
Wyoming Catholic College Lander, WY | $8,783,917 | $10,070,665 |
Frank Lloyd Wright Foundation Scottsdale, AZ | $22,427,881 | $12,357,928 |