Skip to content
Nonprofiteer
← WELLESLEY COLLEGE

Form 990 for tax year 2023

Filed by WELLESLEY COLLEGE.

Totals

Total revenue
$379,067,279
Total expenses
$361,700,590
Contributions and grants received
$61,979,755
Grants paid
$79,019,986
Program service revenue
$192,485,812
Investment income
$114,526,974
Other revenue
$10,074,738
Total assets, end of year
$3,899,240,908
Total liabilities, end of year
$601,833,309
Net assets or fund balances, end of year
$3,297,407,599
Program services expenses (Part IX)
$277,907,184
Management and general expenses
$75,563,174
Fundraising expenses
$8,230,232
Program service expenses (Part III)
$277,907,184

Program services were 76.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • PAULA A JOHNSON

    PRESIDENT

    Total calculated
    $928,840
    From this org
    $770,895
    From related orgs
    $0
    Other
    $157,945
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $741,193
    Bonus
    $0
    Other
    $29,702
    Deferred
    $34,650
    Nontaxable benefits
    $123,295
    Filer's total
    $928,840

  • DEBORA DE HOYOS

    CHAIR

    Total calculated
    $0
    Hours/week
    12

  • CHRISTOPHER T PASKO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    10

  • TODD ABBRECHT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARTHA GOLDBERG ARONSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DOLORES L ARREDONDO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BRIAN C BRODERICK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LAURA WOOD CANTOPHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANNE SHEN CHAO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ELYSE CHERRY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CALLIE CROSSLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • OPHELIA DAHL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH DESMOND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SUZANNE FREY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BETH C FRIEDMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SARAH JANE GUNTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CHERYL HAYWOOD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MAIA HEYMANN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DOUGLAS W HOLLETT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SANDRA HORBACH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JULIE H JONES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • VIVIAN KAO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SUSAN SALTZBART KILSBY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PATRICK LEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SUSAN KOENIGSBERG LUCAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH F MCCORMACK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • TATIANA IVY MOISE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PAULINA PONCE DE LEON BARIDO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SOPHIA SHAW

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER M SMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • GRACE Y TOH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARY ANN WAI SHENG TSAO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PETER TUFANO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DEBORAH F KUENSTNER

    CHIEF INVESTMENT OFFICER

    Total calculated
    $1,332,966
    From this org
    $1,266,732
    From related orgs
    $0
    Other
    $66,234
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $721,169
    Bonus
    $539,467
    Other
    $6,096
    Deferred
    $34,650
    Nontaxable benefits
    $31,584
    Filer's total
    $1,332,966

  • PIPER ORTON

    VP FOR FIN. & ADMIN. & TREAS.

    Total calculated
    $493,258
    From this org
    $444,647
    From related orgs
    $0
    Other
    $48,611
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $431,249
    Bonus
    $7,500
    Other
    $5,898
    Deferred
    $34,650
    Nontaxable benefits
    $13,961
    Filer's total
    $493,258

  • ANDREW SHENNAN

    PROVOST AND DEAN OF COLLEGE

    Total calculated
    $447,050
    From this org
    $388,244
    From related orgs
    $0
    Other
    $58,806
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $355,753
    Bonus
    $30,000
    Other
    $2,491
    Deferred
    $34,220
    Nontaxable benefits
    $24,586
    Filer's total
    $447,050

  • CRYSTAL DAUGHERTY - VP FOR

    DEVELOPMENT & PUB AFF (AS OF 4/23)

    Total calculated
    $279,352
    From this org
    $278,622
    From related orgs
    $0
    Other
    $730
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $247,500
    Bonus
    $30,000
    Other
    $1,122
    Deferred
    $0
    Nontaxable benefits
    $730
    Filer's total
    $279,352

  • SHEILAH HORTON

    DEAN OF STUDENTS

    Total calculated
    $435,791
    From this org
    $311,570
    From related orgs
    $0
    Other
    $124,221
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $292,094
    Bonus
    $17,500
    Other
    $1,976
    Deferred
    $33,125
    Nontaxable benefits
    $91,096
    Filer's total
    $435,791

  • MEGAN NUNEZ

    DEAN OF FACULTY AFFAIRS

    Total calculated
    $304,085
    From this org
    $252,506
    From related orgs
    $0
    Other
    $51,579
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $252,131
    Bonus
    $0
    Other
    $375
    Deferred
    $27,350
    Nontaxable benefits
    $24,229
    Filer's total
    $304,085

  • MICHAEL JEFFRIES

    DEAN OF ACADEMIC AFF.

    Total calculated
    $291,840
    From this org
    $242,687
    From related orgs
    $0
    Other
    $49,153
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $242,446
    Bonus
    $0
    Other
    $241
    Deferred
    $24,948
    Nontaxable benefits
    $24,205
    Filer's total
    $291,840

  • THERESA PEACHES VALDES

    DEAN OF ADMISSION & STU. FIN. SVCS

    Total calculated
    $287,058
    From this org
    $267,176
    From related orgs
    $0
    Other
    $19,882
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $266,779
    Bonus
    $0
    Other
    $397
    Deferred
    $9,302
    Nontaxable benefits
    $10,580
    Filer's total
    $287,058

  • ROSE C CARPENTER

    DEPUTY CIO

    Total calculated
    $1,051,604
    From this org
    $987,484
    From related orgs
    $0
    Other
    $64,120
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $547,619
    Bonus
    $439,385
    Other
    $480
    Deferred
    $34,650
    Nontaxable benefits
    $29,470
    Filer's total
    $1,051,604

  • RAY OQUENDO

    CHIEF OPERATING OFFICER

    Total calculated
    $987,652
    From this org
    $922,211
    From related orgs
    $0
    Other
    $65,441
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $491,951
    Bonus
    $427,092
    Other
    $3,168
    Deferred
    $34,650
    Nontaxable benefits
    $30,791
    Filer's total
    $987,652

  • MATTHEW VEILLEUX

    INVESTMENT DIRECTOR

    Total calculated
    $520,791
    From this org
    $484,317
    From related orgs
    $0
    Other
    $36,474
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $298,788
    Bonus
    $184,222
    Other
    $1,307
    Deferred
    $28,580
    Nontaxable benefits
    $7,894
    Filer's total
    $520,791

  • KAREN PETRULAKIS

    GENERAL COUNSEL

    Total calculated
    $512,897
    From this org
    $447,662
    From related orgs
    $0
    Other
    $65,235
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $389,623
    Bonus
    $15,000
    Other
    $43,039
    Deferred
    $34,650
    Nontaxable benefits
    $30,585
    Filer's total
    $512,897

  • DAVE CHAKRABORTY

    ASST VP FACILITIES MGMT

    Total calculated
    $335,496
    From this org
    $302,559
    From related orgs
    $0
    Other
    $32,937
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $279,733
    Bonus
    $20,000
    Other
    $2,826
    Deferred
    $31,546
    Nontaxable benefits
    $1,391
    Filer's total
    $335,496

  • ANN VELENCHIK

    FORMER DEAN OF ACADEMIC AFF.

    Total calculated
    $258,906
    From this org
    $211,867
    From related orgs
    $0
    Other
    $47,039
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $210,651
    Bonus
    $0
    Other
    $1,216
    Deferred
    $22,995
    Nontaxable benefits
    $24,044
    Filer's total
    $258,906

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
BENEFITS PROVIDED: WELLESLEY COLLEGE'S POLICY IS THAT THE COLLEGE WILL NOT PAY FOR OR REIMBURSE TRAVEL, MEALS, AND EXPENSES OF THE SPOUSE/PARTNER OF AN EMPLOYEE WITH THE EXCEPTION OF THE PRESIDENT. SPECIFICALLY, WHILE PERFORMING HER OFFICIAL DUTIES IN THE AREA OF DEVELOPMENT, ALUMNAE RELATIONS, AND OTHER BUSINESS OF THE COLLEGE, THE PRESIDENT MAY BE ACCOMPANIED BY HER SPOUSE, WHO IS EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF ALL TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE, WHICH IS TREATED AS NONTAXABLE COMPENSATION. THE COLLEGE PROVIDES HOUSING TO CERTAIN EMPLOYEES AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE AND BENEFIT OF THE COLLEGE. THE PRESIDENT, VICE PRESIDENT AND DEAN OF STUDENTS EACH RECEIVE HOUSING. THE AMOUNT OF THIS HOUSING IS TREATED AS NONTAXABLE COMPENSATION UNDER IRC SECTION 119. THE COLLEGE WILL NOT PAY FOR PERSONAL SERVICES WITH THE EXCEPTION OF THE PRESIDENT'S HOUSE. SINCE THE PRESIDENT'S HOUSE IS USED EXTENSIVELY FOR COLLEGE BUSINESS, HOUSEKEEPING SERVICES ARE PROVIDED FOR THE GENERAL SPACE. A CHEF PROVIDES MEALS AT THE PRESIDENT'S HOUSE FOR BUSINESS PURPOSE FUNCTIONS. PERSONAL SERVICES PROVIDED TO EMPLOYEES ARE APPROPRIATELY REPORTED AS TAXABLE COMPENSATION.
PART I, LINE 6
PAYMENTS CONTINGENT OF NET EARNINGS EMPLOYEES IN THE INVESTMENT OFFICE HAVE AN INCENTIVE PERFORMANCE-RELATED BONUS SYSTEM BASED ON THE INVESTMENT PERFORMANCE OF THE WELLESLEY COLLEGE ENDOWMENT. TOTAL COMPENSATION IS REVIEWED IN COMPARISON TO MARKET DATA PROVIDED BY INDEPENDENT THIRD PARTIES.
PART I, LINE 7
NONFIXED PAYMENTS EMPLOYEES OTHER THAN INVESTMENT OFFICE EMPLOYEES ARE ABLE TO RECEIVE MERIT-BASED BONUS COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • WELLESLEY-IN-AIX

    501(C)(3) · EDUCATION · FR · controlled entity

    Directly controlled by WELLESLEY

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • POOLED INCOME FUNDS (5)

    T · INVESTMENT · MA · controlled entity

  • CHARITABLE REMAINDER TRUSTS (2)

    T · INVESTMENT · MA · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202511349349304996

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.