Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,371,479

• 1f · All other contributions, gifts and grants

  $65,322,538

• 1g · Noncash contributions included above

  $26,955,261

• 2a · Program service revenue: TUITION AND FESS

  total $211,106,447 · related or exempt $211,106,447

• 2b · Program service revenue: SALES & SERVICES OF AUXILIARIES

  total $45,938,140 · related or exempt $37,557,466 · unrelated business $8,380,674

• 2c · Program service revenue: OTHER EDUCATIONAL ACTIVITIES

  total $3,871,960 · related or exempt $3,871,960

• 3 · Investment income

  total $13,252,259 · unrelated business -$147,153 · excluded $13,399,412

• 5 · Royalties

  total $76,345 · excluded $76,345

• 6a · Gross rents

  real property $854,763

• 6b · Less rental expenses

  real property $1,298,582

• 6c · Rental income or loss

  real property -$443,819

• 6d · Net rental income or loss

  total -$443,819 · excluded -$443,819

• 7a · Gross sales of assets other than inventory

  securities $441,693,432

• 7b · Less cost or other basis and sales expenses

  securities $377,713,751

• 7c · Gain or loss

  securities $63,979,681

• 7d · Net gain or loss

  total $63,979,681 · unrelated business $1,860,000 · excluded $62,119,681

• 10a · Gross sales of inventory

  $4,780,210

• 10b · Cost of goods sold

  $2,954,530

• 10c · Net income from sales of inventory

  total $1,825,680 · excluded $1,825,680

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $781,174 · program services $781,174

• 2 · Grants to domestic individuals

  total $82,215,932 · program services $82,215,932

• 3 · Grants to foreign organizations and individuals

  total $5,859,033 · program services $5,859,033

• 5 · Compensation of officers, directors and key employees

  total $5,871,545 · program services $5,871,545

• 6 · Compensation of disqualified persons

  total $487,719 · program services $487,719

• 7 · Other salaries and wages

  total $100,316,341 · program services $79,520,876 · management and general $13,946,557 · fundraising $6,848,908

• 8 · Pension plan contributions

  total $9,684,573 · program services $7,797,493 · management and general $1,264,952 · fundraising $622,128

• 9 · Other employee benefits

  total $14,624,675 · program services $11,834,229 · management and general $1,888,431 · fundraising $902,015

• 10 · Payroll taxes

  total $7,408,985 · program services $5,964,412 · management and general $968,999 · fundraising $475,574

• 11a · Fees: management

  total $9,464,380 · program services $8,443,924 · management and general $816,337 · fundraising $204,119

• 11b · Fees: legal

  total $559,761 · program services $499,408 · management and general $48,281 · fundraising $12,072

• 11c · Fees: accounting

  total $350,340 · program services $312,566 · management and general $30,218 · fundraising $7,556

• 11d · Fees: lobbying

  total $181,059 · program services $161,537 · management and general $15,617 · fundraising $3,905

• 11f · Fees: investment management

  total $1,278,187 · program services $1,140,372 · management and general $110,248 · fundraising $27,567

• 11g · Fees: other

  total $12,469,327 · program services $11,124,875 · management and general $1,075,525 · fundraising $268,927

• 14 · Information technology

  total $6,056,789 · program services $5,323,918 · management and general $545,111 · fundraising $187,760

• 16 · Occupancy

  total $1,638,152 · program services $1,638,152

• 17 · Travel

  total $12,157,409 · program services $10,744,009 · management and general $780,572 · fundraising $632,828

• 20 · Interest

  total $14,446,332 · program services $14,446,332

• 22 · Depreciation, depletion and amortization

  total $20,402,672 · program services $18,770,588 · management and general $1,491,828 · fundraising $140,256

• 23 · Insurance

  total $4,463,841 · program services $2,427,883 · management and general $1,995,337 · fundraising $40,621

• 24a · Other expenses: GENERAL OPERATING COSTS

  total $12,694,024 · program services $9,282,942 · management and general $2,331,614 · fundraising $1,079,468

• 24b · Other expenses: UTILITIES

  total $5,189,886 · program services $4,551,199 · management and general $498,684 · fundraising $140,003

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $3,483,530 · program services $3,176,235 · management and general $248,974 · fundraising $58,321

• 24d · Other expenses: LIBRARY ACQUISITIONS

  total $3,431,639 · program services $3,428,104 · management and general $2,383 · fundraising $1,152

• 24e · All other expenses

  total $2,278,895 · program services $1,331,480 · management and general $496,315 · fundraising $451,100

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,447,467 · end of year $5,910,475

• 2 · Savings and temporary cash investments

  beginning of year $64,206,255 · end of year $63,882,076

• 3 · Pledges and grants receivable

  beginning of year $39,019,443 · end of year $23,362,941

• 4 · Accounts receivable

  beginning of year $4,274,815 · end of year $5,906,282

• 5 · Loans and receivables from officers and key people

  end of year $17,998

• 7 · Other notes and loans receivable

  beginning of year $287,225 · end of year $186,788

• 8 · Inventories for sale or use

  beginning of year $2,218,321 · end of year $2,136,911

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,362,249 · end of year $4,192,018

• 10a · Land, buildings and equipment: cost or other basis

  $901,377,173

• 10b · Land, buildings and equipment: accumulated depreciation

  $353,531,174

• 10c · Land, buildings and equipment, net

  beginning of year $488,507,431 · end of year $547,845,999

• 11 · Investments: publicly traded securities

  beginning of year $599,203,683 · end of year $628,066,551

• 12 · Investments: other securities

  beginning of year $833,527,235 · end of year $847,087,358

• 15 · Other assets

  beginning of year $13,836,831 · end of year $14,671,218

• 17 · Accounts payable and accrued expenses

  beginning of year $30,816,318 · end of year $40,450,137

• 19 · Deferred revenue

  beginning of year $8,491,871 · end of year $8,181,780

• 20 · Tax-exempt bond liabilities

  beginning of year $95,258,558 · end of year $92,848,065

• 24 · Unsecured notes and loans payable

  beginning of year $311,512,121 · end of year $304,931,072

• 25 · Other liabilities

  beginning of year $44,261,174 · end of year $43,015,610

• 27 · Net assets without donor restrictions

  beginning of year $482,069,654 · end of year $523,408,652

• 28 · Net assets with donor restrictions

  beginning of year $1,082,481,259 · end of year $1,130,431,299

The filer's explanations (Part III)

PART I, LINE 1A

FIRST CLASS OR CHARTER TRAVEL: PRESIDENT CASEY WAS PERMITTED TO FLY FIRST CLASS OR CHARTER DURING THE FISCAL YEAR ON BUSINESS TRIPS. FIRST-CLASS TRAVEL ON BUSINESS TRIPS WAS NOT TREATED AS TAXABLE COMPENSATION, AND WAS NOT INCLUDED IN HIS W-2. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: HOUSING ALLOWANCES ARE GRANTED ONLY WHEN IT IS SPECIFICALLY STATED IN AN EMPLOYMENT CONTRACT. SUCH ALLOWANCES ARE APPROVED AS PART OF THE EMPLOYEE'S COMPENSATION PACKAGE. PRESIDENT CASEY, VICE PRESIDENT CLAUSS, DEAN MCLOUGHLIN, AND DEAN CUSHING WERE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF THEIR EMPLOYMENT AND FOR THE CONVENIENCE OF COLGATE, THEREFORE THEIR HOUSING AMOUNTS WERE NOT TAXABLE AND NOT INCLUDED IN THEIR W-2. THE NONTAXABLE HOUSING ALLOWANCE AMOUNTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN (D) AS NONTAXABLE BENEFITS. RENEE MADISON ALSO RECEIVED A HOUSING ALLOWANCE FOR PERSONAL USE. THIS AMOUNT WAS TREATED AS TAXABLE COMPENSATION TO HER, AS IT WAS NOT A CONDITION OF HER EMPLOYMENT. THE TAXABLE HOUSING AMOUNT WAS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). HEALTH OR SOCIAL CLUB DUES: JOSEPH HOPE WAS PROVIDED WITH A CLUB MEMBERSHIP. THE MEMBERSHIP WAS TREATED AS TAXABLE COMPENSATION AND INCLUDED IN HIS W-2. PERSONAL SERVICES: PRESIDENT CASEY RECEIVES CERTAIN PERSONAL SERVICES PROVIDED AT HIS CAMPUS RESIDENCE. SUCH SERVICES WERE STIPULATED IN THEIR EMPLOYMENT CONTRACT. THE BENEFIT IS INCLUDED IN THE INDIVIDUAL'S FORM W-2, WHERE APPROPRIATE.

PART I, LINE 7

SEVERAL INDIVIDUALS RECEIVED NON-FIXED PERFORMANCE BASED PAYMENTS. THE NON-FIXED PAYMENTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II).

Disregarded entities

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

• COLGATE INN LLC

  LODGING/FOOD · NY · income $4,666,902 · assets $8,619,265

  Directly controlled by COLGATE UNIVERSITY

• HAMILTON INITIATIVE LLC

  REAL ESTATE · NY · income $530,273 · assets $13,042,728

  Directly controlled by COLGATE UNIVERSITY

• PALACE THEATER LLC

  ARTS VENUE · NY · income $12 · assets $1,019,699

  Directly controlled by COLGATE UNIVERSITY

• HAMILTON THEATER LLC

  MOVIE THEATER · NY · income $281,742 · assets $4,745,914

  Directly controlled by COLGATE UNIVERSITY

• HAMILTON HOUSING INITIATIVE LLC

  HOUSING · NY · income $0 · assets $761,284

  Directly controlled by COLGATE UNIVERSITY

• HAMILTON HOTEL LLC

  LODGING · NY · income $2,340,430 · assets $5,694,047

  Directly controlled by COLGATE UNIVERSITY

Related corporations and trusts

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

• CHARITABLE ANNUITY TRUSTS (1)

  T · SUPPORT · NY · controlled entity

• CHARITABLE UNITRUSTS (24)

  T · SUPPORT · NY · controlled entity

• POOLED INCOME FUNDS

  T · SUPPORT · NY · controlled entity

• CRATSCRUTS - COLGATE IS NOT THE TRUSTEE

  T · SUPPORT · NY · controlled entity

• CHARITABLE REMAINDER UNITRUST

  T · SUPPORT · NY · controlled entity