Westmont College
- Assets
- $312.6m
- Revenue
- $106.5m
- Investments
- $2.2m
- Employees
- 1,256
- Location
- Santa Barbara, CA
- Founding
- 07/1941
- Data as of
- 05/2023
- EIN
- 95-1684793
Organization Overview
Westmont College is located in Santa Barbara, CA. The organization was established in 1941. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Westmont College employed 1,256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westmont 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 05/2023, Westmont College generated $106.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $114.0m during the year ending 05/2023. While expenses have increased by 4.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WESTMONT COLLEGE IS AN UNDERGRADUATE, RESIDENTIAL, CHRISTIAN, LIBERAL ARTS COMMUNITY SERVING GOD'S KINGDOM BY CULTIVATING THOUGHTFUL SCHOLARS, GRATEFUL SERVANTS AND FAITHFUL LEADERS FOR GLOBAL ENGAGEMENT WITH THE ACADEMY, CHURCH AND WORLD.
Describe the Organization's Program Activity:
INSTRUCTION. THIS PROGRAM SERVICE ENCOMPASSED A WIDE RANGE OF INSTRUCTION IN LIBERAL ARTS CURRICULUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gayle Beebe President | Officer | 40 | $350,990 |
Rick Ifland Director Of Eaton Center And Econ Professor | 40 | $253,393 | |
Douglas Jones Vice President For Finance | Officer | 40 | $228,151 |
Reed Sheard Vice President For Advancement And Cio | Officer | 40 | $219,246 |
Edith Schulze Vice President For Student Life | Officer | 40 | $195,326 |
Irene Neller Vice President For Enrollment, Marketing, And Communications | Officer | 40 | $199,967 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Outside Open Network, Servers And Cyber Security | 5/30/23 | $695,058 |
Continental Janitorial Service Janitorial Services | 5/30/23 | $566,851 |
Slingshot Lp Course Materials | 5/30/23 | $312,916 |
Jano Printing & Mailworks Printing And Mailing Services | 5/30/23 | $245,330 |
Ellucian Company Lp Erp Software | 5/30/23 | $191,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,934,347 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,107,487 |
| Noncash contributions included in lines 1a–1f | $597,499 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,041,834 |
| Total Program Service Revenue | $83,708,666 |
| Investment income | $4,270,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,053,296 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $167,199 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $106,488,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $38,466,719 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,187,577 |
| Compensation of current officers, directors, key employees. | $802,121 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,606,146 |
| Pension plan accruals and contributions | $1,498,268 |
| Other employee benefits | $5,742,406 |
| Payroll taxes | $2,061,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $182,695 |
| Fees for services: Accounting | $108,100 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,967 |
| Fees for services: Other | $10,810,665 |
| Advertising and promotion | $476,983 |
| Office expenses | $1,716,084 |
| Information technology | $619,501 |
| Royalties | $3,933 |
| Occupancy | $324,958 |
| Travel | $3,056,286 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,969,663 |
| Interest | $2,083,449 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,498,876 |
| Insurance | $2,051,253 |
| All other expenses | $1,228,740 |
| Total functional expenses | $114,003,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,329,879 |
| Pledges and grants receivable | $10,075,595 |
| Accounts receivable, net | $2,014,122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,021,353 |
| Inventories for sale or use | $604,463 |
| Prepaid expenses and deferred charges | $775,801 |
| Net Land, buildings, and equipment | $179,192,012 |
| Investments—publicly traded securities | $89,502,995 |
| Investments—other securities | $2,239,415 |
| Investments—program-related | $9,020,496 |
| Intangible assets | $0 |
| Other assets | $5,784,880 |
| Total assets | $312,561,011 |
| Accounts payable and accrued expenses | $4,991,706 |
| Grants payable | $79,800 |
| Deferred revenue | $3,663,576 |
| Tax-exempt bond liabilities | $51,631,149 |
| 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 | $17,457,871 |
| Total liabilities | $77,824,102 |
| Net assets without donor restrictions | $134,579,388 |
| Net assets with donor restrictions | $100,157,521 |
| 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 | $312,561,011 |