Form 990 for tax year 2022

Filed by TRUSTEES OF HAMILTON COLLEGE.

Totals

Total revenue: $223,903,897
Total expenses: $231,651,036
Contributions and grants received: $33,100,081
Grants paid: $52,406,824
Program service revenue: $157,511,305
Investment income: $33,174,517
Other revenue: $117,994
Total assets, end of year: $1,710,788,338
Total liabilities, end of year: $198,537,338
Net assets or fund balances, end of year: $1,512,251,000
Program services expenses (Part IX): $189,727,377
Management and general expenses: $34,907,827
Fundraising expenses: $7,015,832
Program service expenses (Part III): $189,727,377

Program services were 81.9% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$8,201,081
1f · All other contributions, gifts and grants

$24,899,000
1g · Noncash contributions included above

$2,919,753
2a · Program service revenue: Tuition and Fees

total $123,897,704 · related or exempt $123,897,704 · unrelated business $0 · excluded $0
2b · Program service revenue: Room & Board

total $30,165,403 · related or exempt $30,165,403 · unrelated business $0 · excluded $0
2c · Program service revenue: Auxiliary Operations

total $623,730 · related or exempt $623,730 · unrelated business $0 · excluded $0
2d · Program service revenue: Application Fees

total $203,612 · related or exempt $203,612 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $2,620,856 · related or exempt $2,560,358 · unrelated business $60,498 · excluded $0
3 · Investment income

total $13,692,893 · related or exempt $0 · unrelated business -$17,097 · excluded $13,709,990
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $304,222 · personal property $0
6b · Less rental expenses

real property $186,228 · personal property $0
6c · Rental income or loss

real property $117,994 · personal property $0
6d · Net rental income or loss

total $117,994 · related or exempt $0 · unrelated business $0 · excluded $117,994
7a · Gross sales of assets other than inventory

securities $84,862,000 · other assets $0
7b · Less cost or other basis and sales expenses

securities $65,380,376 · other assets $0
7c · Gain or loss

securities $19,481,624 · other assets $0
7d · Net gain or loss

total $19,481,624 · related or exempt $0 · unrelated business $0 · excluded $19,481,624
8a · Fundraising events: contributions included on line 1c

$0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $74,250 · program services $74,250
2 · Grants to domestic individuals

total $50,119,209 · program services $50,119,209
3 · Grants to foreign organizations and individuals

total $2,213,365 · program services $2,213,365
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $3,792,644 · program services $463,237 · management and general $2,927,943 · fundraising $401,464
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $68,035,814 · program services $58,564,883 · management and general $5,615,577 · fundraising $3,855,354
8 · Pension plan contributions

total $5,498,037 · program services $4,700,721 · management and general $492,549 · fundraising $304,767
9 · Other employee benefits

total $9,983,120 · program services $8,358,537 · management and general $1,074,844 · fundraising $549,739
10 · Payroll taxes

total $5,310,448 · program services $4,384,583 · management and general $614,978 · fundraising $310,887
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $472,393 · program services $21,837 · management and general $416,491 · fundraising $34,065
11c · Fees: accounting

total $546,034 · program services $40,130 · management and general $505,904 · fundraising $0
11d · Fees: lobbying

total $1,194 · program services $0 · management and general $1,194 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $12,622,893 · program services $0 · management and general $12,622,893 · fundraising $0
11g · Fees: other

total $7,732,170 · program services $3,855,633 · management and general $3,702,166 · fundraising $174,371
12 · Advertising and promotion

total $500,582 · program services $376,813 · management and general $123,769 · fundraising $0
13 · Office expenses

total $9,949,959 · program services $8,019,170 · management and general $1,715,049 · fundraising $215,740
14 · Information technology

total $3,062,045 · program services $1,684,125 · management and general $1,377,920 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $5,329,036 · program services $5,185,152 · management and general $106,581 · fundraising $37,303
17 · Travel

total $7,512,828 · program services $6,393,104 · management and general $935,452 · fundraising $184,272
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $465,126 · program services $253,522 · management and general $208,504 · fundraising $3,100
20 · Interest

total $7,166,738 · program services $6,808,401 · management and general $358,337 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $17,347,000 · program services $16,895,978 · management and general $277,552 · fundraising $173,470
23 · Insurance

total $1,574,697 · program services $9,371 · management and general $1,565,326 · fundraising $0
24a · Other expenses: Food Service

total $7,656,936 · program services $7,656,936 · management and general $0 · fundraising $0
24b · Other expenses: Special Programs and Events

total $1,042,273 · program services $227,572 · management and general $51,503 · fundraising $763,198
24c · Other expenses: Prizes and Awards

total $1,325,402 · program services $1,325,402 · management and general $0 · fundraising $0
24d · Other expenses: Resident Advisor Room Charges

total $608,300 · program services $608,300 · management and general $0 · fundraising $0
24e · All other expenses

total $1,708,543 · program services $1,487,146 · management and general $213,295 · fundraising $8,102

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $43,134,358 · end of year $54,491,551
3 · Pledges and grants receivable

beginning of year $22,176,250 · end of year $20,565,770
4 · Accounts receivable

beginning of year $1,695,356 · end of year $3,314,444
8 · Inventories for sale or use

beginning of year $780,927 · end of year $819,482
9 · Prepaid expenses and deferred charges

beginning of year $2,999,197 · end of year $3,538,935
10a · Land, buildings and equipment: cost or other basis

$608,887,937
10b · Land, buildings and equipment: accumulated depreciation

$336,975,872
10c · Land, buildings and equipment, net

beginning of year $258,863,178 · end of year $271,912,065
11 · Investments: publicly traded securities

beginning of year $479,414,920 · end of year $590,254,279
12 · Investments: other securities

beginning of year $846,120,080 · end of year $744,166,094
13 · Investments: program-related

beginning of year $32,472,103 · end of year $16,011,041
15 · Other assets

beginning of year $6,821,672 · end of year $5,714,677
17 · Accounts payable and accrued expenses

beginning of year $11,451,270 · end of year $12,149,380
20 · Tax-exempt bond liabilities

beginning of year $63,579,869 · end of year $62,582,911
24 · Unsecured notes and loans payable

beginning of year $100,623,017 · end of year $100,649,283
25 · Other liabilities

beginning of year $26,445,885 · end of year $23,155,764
27 · Net assets without donor restrictions

beginning of year $351,121,000 · end of year $356,726,000
28 · Net assets with donor restrictions

beginning of year $1,141,257,000 · end of year $1,155,525,000

Mission and programs · 2022

Mission

A liberal arts college chartered in 1812, Hamilton College has an enrollment of approximately 2,000 students, representing 48 states and 56 countries, and offers 57 areas of study in the liberal arts, science, and mathematics. Hamilton also offers pre-professional/cooperative programs in business, education, engineering, law, and medicine, and the opportunity to study abroad in numerous foreign destinations. The College's open curriculum gives students the freedom to shape their own liberal arts education within a research and writing-intensive framework. The College also sponsors 29 varsity athletic programs affiliated with the NCAA Division III, in addition to many club and intramural sports offerings. More than 125 other student clubs and organizations in a variety of interests and disciplines help to further enrich student development.

Activities or mission (Part I)

Hamilton College prepares students for lives of meaning, purpose, and active citizenship. Guided by the motto "Know Thyself," the College emphasizes intellectual growth, flexibility, and collaboration in a residential academic community. Hamilton students learn to think independently, embrace difference, write and speak persuasively, and engage issues ethically and creatively. One of America's first liberal arts colleges, Hamilton enables its students to effect positive change in the world.

Providing a liberal arts education to approximately 1927 undergraduate students, Hamilton College is committed to its tradition of being a school of opportunity and provides financial aid packages to approximately 50% of its students. The College's full time faculty was 199 and most hold the highest obtainable degree in their field. Summer recreation programs that provide opportunities for children and students to participate in team and individual sports and develop character and sportsmanship.

Expenses $189,727,377 · Grants $52,404,324 · Revenue $157,511,305

As filed on the 2022 return.

Listed in Part VII

Lauren K Jacobson

Chief Investment Officer

Total calculated

$1,166,099

From this org

$516,139

From related orgs

$0

Other

$649,960

Hours/week

40

Schedule J breakdown matched by us

Base

$98,486

Bonus

$417,423

Other

$230

Deferred

$648,391

Nontaxable benefits

$1,569

Filer's total

$1,166,099
David Wippman

President

Total calculated

$1,018,336

From this org

$674,840

From related orgs

$0

Other

$343,496

Hours/week

40

Schedule J breakdown matched by us

Base

$658,482

Bonus

$0

Other

$16,358

Deferred

$231,215

Nontaxable benefits

$112,281

Filer's total

$1,018,336
Alexander B Doucette

Director of Investments

Total calculated

$575,598

From this org

$521,751

From related orgs

$0

Other

$53,847

Hours/week

40

Schedule J breakdown matched by us

Base

$296,528

Bonus

$225,000

Other

$223

Deferred

$30,500

Nontaxable benefits

$23,347

Filer's total

$575,598
Sara T Orr

Director of Investments

Total calculated

$497,507

From this org

$464,045

From related orgs

$0

Other

$33,462

Hours/week

40

Schedule J breakdown matched by us

Base

$213,338

Bonus

$250,000

Other

$707

Deferred

$30,500

Nontaxable benefits

$2,962

Filer's total

$497,507
Karen L Leach

VP Admin & Finance

Total calculated

$495,897

From this org

$377,699

From related orgs

$0

Other

$118,198

Hours/week

40

Schedule J breakdown matched by us

Base

$364,023

Bonus

$0

Other

$13,676

Deferred

$92,618

Nontaxable benefits

$25,580

Filer's total

$495,897
Monica C Inzer

VP Enrollment Management

Total calculated

$421,191

From this org

$309,024

From related orgs

$0

Other

$112,167

Hours/week

40

Schedule J breakdown matched by us

Base

$298,934

Bonus

$0

Other

$10,090

Deferred

$79,494

Nontaxable benefits

$32,672

Filer's total

$421,190
Lori R Dennison

VP Comm & Development

Total calculated

$411,186

From this org

$327,357

From related orgs

$0

Other

$83,829

Hours/week

40

Schedule J breakdown matched by us

Base

$316,828

Bonus

$0

Other

$10,529

Deferred

$30,500

Nontaxable benefits

$53,329

Filer's total

$411,186
Melissa F Richards

VP Communications

Total calculated

$295,641

From this org

$233,633

From related orgs

$0

Other

$62,008

Hours/week

40

Schedule J breakdown matched by us

Base

$233,101

Bonus

$0

Other

$533

Deferred

$24,282

Nontaxable benefits

$37,725

Filer's total

$295,641
Frank M Anechiario

Professor

Total calculated

$294,636

From this org

$260,741

From related orgs

$0

Other

$33,895

Hours/week

40

Schedule J breakdown matched by us

Base

$258,231

Bonus

$0

Other

$2,509

Deferred

$25,950

Nontaxable benefits

$7,945

Filer's total

$294,635
Spencer Polaske

Director of Investments

Total calculated

$278,522

From this org

$237,176

From related orgs

$0

Other

$41,346

Hours/week

40

Schedule J breakdown matched by us

Base

$237,061

Bonus

$0

Other

$115

Deferred

$24,417

Nontaxable benefits

$16,930

Filer's total

$278,523
Barbara J Tewksbury

Professor

Total calculated

$272,596

From this org

$239,543

From related orgs

$0

Other

$33,053

Hours/week

40

Schedule J breakdown matched by us

Base

$237,985

Bonus

$0

Other

$1,557

Deferred

$24,146

Nontaxable benefits

$8,907

Filer's total

$272,595
Joseph M Shelley

VP for Library and Information Technology

Total calculated

$260,222

From this org

$234,048

From related orgs

$0

Other

$26,174

Hours/week

40

Schedule J breakdown matched by us

Base

$232,828

Bonus

$0

Other

$1,220

Deferred

$23,414

Nontaxable benefits

$2,760

Filer's total

$260,222
Gillian M King

Chief of Staff and Secretary

Total calculated

$229,437

From this org

$200,531

From related orgs

$0

Other

$28,906

Hours/week

40

Schedule J breakdown matched by us

Base

$199,332

Bonus

$0

Other

$1,200

Deferred

$20,150

Nontaxable benefits

$8,756

Filer's total

$229,438
Margaret Gentry

Professor, former key employee (ended 6/30/18)

Total calculated

$220,823

From this org

$192,977

From related orgs

$0

Other

$27,846

Hours/week

40

Schedule J breakdown matched by us

Base

$190,295

Bonus

$0

Other

$2,682

Deferred

$19,240

Nontaxable benefits

$8,606

Filer's total

$220,823
Suzanne P Keen

VP Academic Affairs

Total calculated

$207,990

From this org

$155,838

From related orgs

$0

Other

$52,152

Hours/week

40

Schedule J breakdown matched by us

Base

$155,198

Bonus

$0

Other

$640

Deferred

$15,995

Nontaxable benefits

$36,157

Filer's total

$207,990
Ngonidzashe Munemo

VP Academic Affiars

Total calculated

$183,189

From this org

$152,976

From related orgs

$0

Other

$30,213

Hours/week

40

Schedule J breakdown matched by us

Base

$152,756

Bonus

$0

Other

$221

Deferred

$0

Nontaxable benefits

$30,213

Filer's total

$183,190
Aditya Bhasin

Trustee

Total calculated

$0

Hours/week

2
Alexander C Sacerdote

Trustee

Total calculated

$0

Hours/week

3
Amy Owens Goodfriend

Trustee

Total calculated

$0

Hours/week

2
Aron J Ain

Trustee

Total calculated

$0

Hours/week

2
Betsy G Bacot

Trustee

Total calculated

$0

Hours/week

2
Carol T Friscia

Trustee

Total calculated

$0

Hours/week

2
Christopher P Marshall

Trustee

Total calculated

$0

Hours/week

2
Daniel Fielding

Trustee

Total calculated

$0

Hours/week

2
Daniel I Rifkin

Trustee

Total calculated

$0

Hours/week

2
Daniel T Nye

Trustee

Total calculated

$0

Hours/week

2
David M Solomon

Chair

Total calculated

$0

Hours/week

5
David P Hess

Trustee

Total calculated

$0

Hours/week

2
Eric F Grossman

Trustee

Total calculated

$0

Hours/week

2
Gregory T Hoogkamp

Trustee

Total calculated

$0

Hours/week

2
Imad I Qasim

Trustee

Total calculated

$0

Hours/week

2
Jack R Selby

Trustee

Total calculated

$0

Hours/week

2
John F Hadity

Trustee

Total calculated

$0

Hours/week

2
Julia K Cowles

Trustee

Total calculated

$0

Hours/week

2
Kathleen Corsi

Trustee

Total calculated

$0

Hours/week

2
Lea Haber Kuck

Trustee

Total calculated

$0

Hours/week

2
Linda E Johnson

Vice Chair

Total calculated

$0

Hours/week

5
Lindsey L Rotolo

Trustee

Total calculated

$0

Hours/week

2
Manal Ataya

Trustee

Total calculated

$0

Hours/week

2
Marc Randolph

Trustee

Total calculated

$0

Hours/week

2
Mark T Fedorcik

Trustee

Total calculated

$0

Hours/week

2
Mason P Ashe

Trustee

Total calculated

$0

Hours/week

2
Monique Holloway

Trustee

Total calculated

$0

Hours/week

2
Montgomery G Pooley

Trustee

Total calculated

$0

Hours/week

2
Nancy Roob

Trustee

Total calculated

$0

Hours/week

2
Peter B Coffin

Trustee

Total calculated

$0

Hours/week

2
Philip L Hawkins

Trustee

Total calculated

$0

Hours/week

2
Phyllis A Breland

Trustee

Total calculated

$0

Hours/week

2
R Christopher Regan

Trustee

Total calculated

$0

Hours/week

2
Richard Bernstein

Trustee

Total calculated

$0

Hours/week

3
Robert S Morris

Trustee

Total calculated

$0

Hours/week

2
Robert V Delaney Jr

Vice Chair

Total calculated

$0

Hours/week

5
Ronald R Pressman

Trustee

Total calculated

$0

Hours/week

2
Sharon D Madison

Trustee

Total calculated

$0

Hours/week

2
Sharon S Walker

Trustee

Total calculated

$0

Hours/week

2

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 · First-class or charter travel
1a · Travel for companions
1a · Housing allowance or residence for personal use
1a · Health or social club dues or initiation fees
1a · Personal services (maid, chauffeur, chef)
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee
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
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a: The College requires that the President, the VP for Academic Affairs and the VP for Student Affairs reside on campus as a condition of their employment; therefore, College owned housing is provided for them. In addition, the College pays for reasonable costs of housekeeping to maintain the president's residence. Business class air travel is allowed for members of senior staff only when the travel is overseas or cross-continental. The cost of travel for a companion is allowed for the president only. Other services provided to the president include payment for membership in one club in Manhattan, such as the Princeton Club or the University Club, for the purpose of meeting with College constituents, sponsoring College events and otherwise conducting College business. Because these benefits are nontaxable, they are not included in the employees' Form W-2. However, they are included in Part II, column D of Schedule J.
Schedule J, Part I, Line 7: A contractual bonus is paid to the Chief Investment Officer. A discretionary bonus is paid to the Directors of Investments as determined by the CIO and Chair of the Investment Committee based on their performance.

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

Clinton Central School

$24,000

Town Gown Grant to support local school.
Clinton Central School Foundation

$15,000

Town Gown Grant to support local school activities.
Kirkland Town Library

$10,000

Town Gown Grant to support local library.
Clinton Historical Society

$8,750

Town Gown Grant to support local historical society.
Country Pantry

$7,500

Town Gown Grant to support the local pantry.
Clinton Fire Dept

$6,500

Town Gown Grant to support local fire department.

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.

Foundation Hamilton College

Education of Spanish language and culture · SP · controlled entity

Directly controlled by Hamilton College
Hamilton in France

Education of French language and culture · FR · controlled entity

Directly controlled by Hamilton College

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.

Hamilton Property Group LLC

Rental · NY · income $296,989 · assets $711,796

Directly controlled by Trustees of Hamilton College

Related corporations and trusts

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

Pooled Income Funds (3)

T · Trust · NY · controlled entity
Charitable Remainder Annuity Trusts (3)

T · Trust · NY · controlled entity
Charitable Remainder Unitrusts (13)

T · Trust · NY · controlled entity

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202441369349304059

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