Form 990 for tax year 2023

Filed by COLBY-SAWYER COLLEGE.

Totals

Total revenue: $47,976,864
Total expenses: $44,319,760
Contributions and grants received: $13,758,077
Grants paid: $7,318,215
Program service revenue: $30,159,418
Investment income: $4,072,581
Other revenue: -$13,212
Total assets, end of year: $144,211,285
Total liabilities, end of year: $32,152,043
Net assets or fund balances, end of year: $112,059,242
Program services expenses (Part IX): $31,852,179
Management and general expenses: $11,516,660
Fundraising expenses: $950,921
Program service expenses (Part III): $31,852,179

Program services were 71.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1c · Fundraising events

$31,737
1e · Government grants (contributions)

$1,795,561
1f · All other contributions, gifts and grants

$11,930,779
1g · Noncash contributions included above

$924,210
2a · Program service revenue: Tuition and Fees

total $16,721,893 · related or exempt $16,721,893
2b · Program service revenue: Auxiliary Enterprises

total $12,568,437 · related or exempt $11,925,522 · unrelated business $642,915
2c · Program service revenue: Other Student Revenue

total $869,088 · related or exempt $869,088
3 · Investment income

total $3,075,975 · excluded $3,075,975
7a · Gross sales of assets other than inventory

securities $24,465,252
7b · Less cost or other basis and sales expenses

securities $23,468,646
7c · Gain or loss

securities $996,606
7d · Net gain or loss

total $996,606 · excluded $996,606
8a · Fundraising events: gross income

$17,872
8a · Fundraising events: contributions included on line 1c

$31,737
8b · Fundraising events: direct expenses

$31,084
8c · Net income from fundraising events

total -$13,212 · excluded -$13,212

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $7,318,215 · program services $7,318,215
5 · Compensation of officers, directors and key employees

total $539,681 · management and general $539,681
7 · Other salaries and wages

total $14,965,118 · program services $10,931,520 · management and general $3,356,417 · fundraising $677,181
8 · Pension plan contributions

total $431,441 · program services $333,740 · management and general $88,681 · fundraising $9,020
9 · Other employee benefits

total $3,322,418 · program services $2,495,143 · management and general $807,761 · fundraising $19,514
10 · Payroll taxes

total $1,048,564 · program services $779,660 · management and general $263,526 · fundraising $5,378
11b · Fees: legal

total $114,388 · management and general $114,388
11c · Fees: accounting

total $94,613 · management and general $94,613
11e · Fees: professional fundraising services

total $46,757 · fundraising $46,757
11f · Fees: investment management

total $85,206 · management and general $85,206
11g · Fees: other

total $4,788,310 · program services $3,586,789 · management and general $1,174,347 · fundraising $27,174
12 · Advertising and promotion

total $12,032 · program services $4,932 · management and general $7,100
13 · Office expenses

total $96,243 · program services $193 · fundraising $96,050
16 · Occupancy

total $1,664,239 · program services $3,013 · management and general $1,661,226
17 · Travel

total $165,533 · program services $142,885 · management and general $3,518 · fundraising $19,130
20 · Interest

total $978,268 · program services $847,368 · management and general $130,900
22 · Depreciation, depletion and amortization

total $2,165,915 · program services $1,904,826 · management and general $261,089
23 · Insurance

total $745,747 · program services $58,500 · management and general $687,247
24a · Other expenses: Miscellaneous

total $3,178,985 · program services $1,303,877 · management and general $1,851,708 · fundraising $23,400
24b · Other expenses: Program Fees & Supplies

total $1,274,839 · program services $858,307 · management and general $389,215 · fundraising $27,317
24c · Other expenses: Food

total $819,852 · program services $819,815 · management and general $37
24d · Other expenses: Athletics & Student Act

total $463,396 · program services $463,396

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $29,184 · end of year $77,290
2 · Savings and temporary cash investments

beginning of year $7,712,442 · end of year $2,895,510
3 · Pledges and grants receivable

beginning of year $4,498,509 · end of year $407,189
4 · Accounts receivable

beginning of year $644,003 · end of year $1,078,263
7 · Other notes and loans receivable

beginning of year $180,031 · end of year $118,231
9 · Prepaid expenses and deferred charges

beginning of year $524,732 · end of year $627,727
10a · Land, buildings and equipment: cost or other basis

$118,282,037
10b · Land, buildings and equipment: accumulated depreciation

$52,110,772
10c · Land, buildings and equipment, net

beginning of year $54,287,421 · end of year $66,171,265
11 · Investments: publicly traded securities

beginning of year $64,070,033 · end of year $69,960,311
12 · Investments: other securities

beginning of year $2,538,475 · end of year $2,551,063
14 · Intangible assets

beginning of year $484,024 · end of year $324,436
17 · Accounts payable and accrued expenses

beginning of year $3,188,923 · end of year $4,816,980
19 · Deferred revenue

beginning of year $2,339,472 · end of year $2,662,834
20 · Tax-exempt bond liabilities

beginning of year $20,392,740 · end of year $19,847,728
23 · Secured mortgages and notes payable

beginning of year $3,943,116 · end of year $3,602,326
25 · Other liabilities

beginning of year $1,553,650 · end of year $1,222,175
27 · Net assets without donor restrictions

beginning of year $36,796,295 · end of year $43,112,696
28 · Net assets with donor restrictions

beginning of year $66,754,658 · end of year $68,946,546

Mission and programs · 2023

Mission

Colby-Sawyer College is a private, independent, residential, college with a mission to offer undergraduate and graduate educational programs based in the liberal arts and health, social, and natural sciences, with a focus on vocational exploration and experiential learning, which prepare students to thrive in, and make a positive impact upon a dynamic, diverse, and interdependent world. Engaged robust partnerships will support students' academic, intellectual, personal and professional growth, align with workforce development needs, and enhance individual and community well-being and resilience. Colby-Sawyer College was founded as an academy in 1837 and has been integrated in higher education since 1928.

Activities or mission (Part I)

Institute of Higher Learning

The institution offered a comprehensive, private, liberal arts education, with degrees granted at the associates, bachelors, masters and doctorate level. Traditional undergraduate students in the bachelor degree programs completed a liberal arts core and chose from nineteen majors and twenty-six minors, many of which focused on pre-professional preparation. All traditional undergraduates were required to complete at least one internship and a senior capstone project. The Class of 2022 reported a 100 percent success rate (employed or in graduate school) six months after graduation. Many of the graduate and professional programs focused on health science related fields that supported regional workforce needs. Graduate and professional programs were offered in person as well as online. Students enrolled in the traditional and graduate nursing programs completed clinical experiences at a hospital classified as a Level 1 trauma center. The institution supported all degree programs with academic support services (library, tutoring, career development) and financial assistance through gifts, grants, endowment income and college resources, which assisted students in financing the cost of their attendance.

Expenses $26,627,122 · Grants $7,318,215 · Revenue $17,590,981
Auxiliary services provided food service and facilities to students as part of a residential institution; student services provided additional support for athletics, health and counseling, student activities, and student government.

Expenses $5,225,057 · Revenue $12,568,437

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Lisa Hogarty

Chair

Total calculated

$0

Hours/week

4
Anthony H Librot

Vice Chair

Total calculated

$0

Hours/week

2
Caroline Barry

Trustee

Total calculated

$0

Hours/week

2
Jourdain K P Bell

Trustee

Total calculated

$0

Hours/week

2
Collin D Bray

Trustee

Total calculated

$0

Hours/week

2
Wendy Carey

Trustee

Total calculated

$0

Hours/week

2
Aimee M Claiborne

Trustee

Total calculated

$0

Hours/week

2
Edwin A Cowell

Trustee

Total calculated

$0

Hours/week

2
Thomas C Csatari

Trustee

Total calculated

$0

Hours/week

2
Ann Carroll Harris

Trustee

Total calculated

$0

Hours/week

2
Mitchell E Harris

Trustee

Total calculated

$0

Hours/week

2
Amy Hedison

Trustee

Total calculated

$0

Hours/week

2
Thomas W Hoyt

Trustee

Total calculated

$0

Hours/week

2
Susan MacMichael John

Trustee

Total calculated

$0

Hours/week

2
Bruce King

Trustee

Total calculated

$0

Hours/week

2
Beth Constantinides Meurlin

Trustee

Total calculated

$0

Hours/week

2
William H Mitchell

Trustee

Total calculated

$0

Hours/week

2
JoAnn Franke Overfield

Trustee

Total calculated

$0

Hours/week

2
Susan Pomerantz

Trustee

Total calculated

$0

Hours/week

2
Sally Shaw Veitch

Trustee

Total calculated

$0

Hours/week

2
Barbara Jan-Wilson

Trustee

Total calculated

$0

Hours/week

2
Susan Stuebner

Past President

Total calculated

$370,632

From this org

$327,460

From related orgs

$0

Other

$43,172

Hours/week

40

Schedule J breakdown matched by us

Base

$318,960

Bonus

$0

Other

$8,500

Deferred

$13,098

Nontaxable benefits

$30,074

Filer's total

$370,632
Karen Bonewald

VP Finance/ Treasurer

Total calculated

$169,049

From this org

$161,517

From related orgs

$0

Other

$7,532

Hours/week

40

Schedule J breakdown matched by us

Base

$161,517

Bonus

$0

Other

$0

Deferred

$6,461

Nontaxable benefits

$1,071

Filer's total

$169,049
Laura Sykes

Interim President

Total calculated

$0

Hours/week

40
Daniel Parish

VP Advancement

Total calculated

$180,780

From this org

$173,789

From related orgs

$0

Other

$6,991

Hours/week

40

Schedule J breakdown matched by us

Base

$173,789

Bonus

$0

Other

$0

Deferred

$6,952

Nontaxable benefits

$39

Filer's total

$180,780
Eden Wales

VP Academics

Total calculated

$179,672

From this org

$170,532

From related orgs

$0

Other

$9,140

Hours/week

40

Schedule J breakdown matched by us

Base

$170,532

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$9,140

Filer's total

$179,672
Gregg Mazzola

VP Communications & Marketing

Total calculated

$168,974

From this org

$140,510

From related orgs

$0

Other

$28,464

Hours/week

40

Schedule J breakdown matched by us

Base

$140,510

Bonus

$0

Other

$0

Deferred

$5,620

Nontaxable benefits

$22,844

Filer's total

$168,974
Valerie Leclair

VP Enrollment Management

Total calculated

$169,532

From this org

$138,946

From related orgs

$0

Other

$30,586

Hours/week

40

Schedule J breakdown matched by us

Base

$138,946

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$30,586

Filer's total

$169,532
Robin Davis

VP Student Development

Total calculated

$172,394

From this org

$133,684

From related orgs

$0

Other

$38,710

Hours/week

40

Schedule J breakdown matched by us

Base

$133,684

Bonus

$0

Other

$0

Deferred

$5,347

Nontaxable benefits

$33,363

Filer's total

$172,394

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 · Tax indemnification and gross-up payments
1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee

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
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a: The College provides a housing allowance to Sue Stuebner, President of the Organization, as it is required that they live on campus as a part of their employment. During 2023, $30,000 of housing allowance was nontaxable to the president. Additionally, the College provides gross-up payments for moving expenses to cover the FICA and Medicare taxes for relocating employees.

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.

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.

Related corporations and trusts

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

Robert E Mulholland 2013 Charitable Remainder Unitrust

T · Charitable Remainder Unitrust · NY · 100% owned · share of assets $490,191 · controlled entity

Directly controlled by Colby-Sawyer College
The Richard N Thielen Charitable Remainder Unitrust

T · Charitable Remainder Unitrust · MA · 100% owned · share of assets $880,647 · controlled entity

Directly controlled by Colby-Sawyer College

Provenance

Return type: form_990
Tax year: 2023
Filed: 26 February 2025
IRS schema version: 2023v6.0
Source object: 202530599349300313

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

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