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Nonprofiteer
← TRUSTEES OF DARTMOUTH COLLEGE

Form 990 for tax year 2022

Filed by TRUSTEES OF DARTMOUTH COLLEGE.

Totals

Total revenue
$1,603,346,438
Total expenses
$1,411,739,475
Contributions and grants received
$435,284,024
Grants paid
$245,578,795
Program service revenue
$629,112,578
Investment income
$265,659,366
Other revenue
$273,290,470
Total assets, end of year
$11,665,744,420
Total liabilities, end of year
$1,709,633,763
Net assets or fund balances, end of year
$9,956,110,657
Program services expenses (Part IX)
$1,228,068,737
Management and general expenses
$123,010,690
Fundraising expenses
$60,660,048
Program service expenses (Part III)
$1,228,068,737

Program services were 87.0% 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

    $45,600

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $131,544,323

  • 1f · All other contributions, gifts and grants

    $303,694,101

  • 1g · Noncash contributions included above

    $48,872,959

  • 2a · Program service revenue: Tuition & Fees

    total $476,132,056 · related or exempt $476,132,056 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Auxiliary Service

    total $92,724,517 · related or exempt $86,648,638 · unrelated business $6,075,879 · excluded $0

  • 2c · Program service revenue: Medical Related

    total $17,489,776 · related or exempt $17,489,776 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Other Education Related

    total $19,287,881 · related or exempt $19,287,881 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Sponsored projects

    total $6,322,101 · related or exempt $6,322,101 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $17,156,247 · related or exempt $16,874,505 · unrelated business $281,742 · excluded $0

  • 3 · Investment income

    total $119,391,293 · related or exempt $0 · unrelated business $9,067,602 · excluded $110,323,691

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

    total $251,877,057 · related or exempt $0 · unrelated business $0 · excluded $251,877,057

  • 6a · Gross rents

    real property $16,631,402 · personal property $0

  • 6b · Less rental expenses

    real property $11,565,671 · personal property $0

  • 6c · Rental income or loss

    real property $5,065,731 · personal property $0

  • 6d · Net rental income or loss

    total $5,065,731 · related or exempt $0 · unrelated business $147,196 · excluded $4,918,535

  • 7a · Gross sales of assets other than inventory

    securities $4,107,020,687 · other assets $0

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

    securities $3,960,752,614 · other assets $0

  • 7c · Gain or loss

    securities $146,268,073 · other assets $0

  • 7d · Net gain or loss

    total $146,268,073 · related or exempt $0 · unrelated business -$13,440,551 · excluded $159,708,624

  • 8a · Fundraising events: gross income

    $81,721

  • 8a · Fundraising events: contributions included on line 1c

    $45,600

  • 8b · Fundraising events: direct expenses

    $54,390

  • 8c · Net income from fundraising events

    total $27,331 · unrelated business $0 · excluded $27,331

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: Split Interest & Other Changes

    total $15,627,474 · related or exempt $0 · unrelated business $0 · excluded $15,627,474

  • 11b · Other revenue: Other income

    total $692,877 · related or exempt $0 · unrelated business $0 · excluded $692,877

  • 11c · Other revenue

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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $16,320,351

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,130,909 · program services $2,130,909

  • 2 · Grants to domestic individuals

    total $238,897,275 · program services $238,897,275

  • 3 · Grants to foreign organizations and individuals

    total $4,550,611 · program services $4,550,611

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $13,701,195 · program services $2,615,820 · management and general $9,949,277 · fundraising $1,136,098

  • 6 · Compensation of disqualified persons

    total $873,767 · program services $583,179 · management and general $290,588 · fundraising $0

  • 7 · Other salaries and wages

    total $478,466,561 · program services $397,470,101 · management and general $48,649,922 · fundraising $32,346,538

  • 8 · Pension plan contributions

    total $31,656,561 · program services $25,772,701 · management and general $3,851,374 · fundraising $2,032,486

  • 9 · Other employee benefits

    total $50,638,851 · program services $40,939,828 · management and general $6,440,067 · fundraising $3,258,956

  • 10 · Payroll taxes

    total $29,242,971 · program services $23,640,838 · management and general $3,720,241 · fundraising $1,881,892

  • 11a · Fees: management

    total $748,792 · program services $745,487 · management and general $2,300 · fundraising $1,005

  • 11b · Fees: legal

    total $7,497,443 · program services $1,062,313 · management and general $6,431,288 · fundraising $3,842

  • 11c · Fees: accounting

    total $721,498 · program services $54,903 · management and general $666,595 · fundraising $0

  • 11d · Fees: lobbying

    total $20,611 · program services $0 · management and general $20,611 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $76,691 · fundraising $76,691

  • 11f · Fees: investment management

    total $1,778,745 · program services $35,712 · management and general $1,743,033 · fundraising $0

  • 11g · Fees: other

    total $110,060,081 · program services $95,803,321 · management and general $4,585,613 · fundraising $9,671,147

  • 12 · Advertising and promotion

    total $2,507,030 · program services $1,871,511 · management and general $154,147 · fundraising $481,372

  • 13 · Office expenses

    total $21,477,858 · program services $17,617,233 · management and general $1,511,745 · fundraising $2,348,880

  • 14 · Information technology

    total $21,907,776 · program services $9,965,834 · management and general $10,773,364 · fundraising $1,168,578

  • 15 · Royalties

    total $107,690,324 · program services $107,687,773 · management and general $2,551 · fundraising $0

  • 16 · Occupancy

    total $46,573,291 · program services $44,701,860 · management and general $1,321,195 · fundraising $550,236

  • 17 · Travel

    total $30,732,491 · program services $26,960,194 · management and general $1,366,145 · fundraising $2,406,152

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $2,155,632 · program services $1,887,184 · management and general $143,924 · fundraising $124,524

  • 20 · Interest

    total $38,947,685 · program services $36,910,544 · management and general $1,826,365 · fundraising $210,776

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $74,176,704 · program services $70,972,427 · management and general $2,638,408 · fundraising $565,869

  • 23 · Insurance

    total $4,399,620 · program services $852,381 · management and general $3,517,025 · fundraising $30,214

  • 24a · Other expenses: Purchase for Resale

    total $20,872,795 · program services $20,827,038 · management and general $43,257 · fundraising $2,500

  • 24b · Other expenses: Books & Media

    total $15,181,629 · program services $14,640,514 · management and general $471,540 · fundraising $69,575

  • 24c · Other expenses: UBI Tax Expense

    total $1,864,268 · program services $1,846,479 · management and general $14,960 · fundraising $2,829

  • 24d · Other expenses: Non Cap Equipment

    total $9,492,845 · program services $9,055,492 · management and general $389,174 · fundraising $48,179

  • 24e · All other expenses

    total $42,696,965 · program services $27,969,275 · management and general $12,485,981 · fundraising $2,241,709

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,599,391 · end of year $29,921,082

  • 2 · Savings and temporary cash investments

    beginning of year $359,995,721 · end of year $567,978,415

  • 3 · Pledges and grants receivable

    beginning of year $441,605,532 · end of year $496,290,687

  • 4 · Accounts receivable

    beginning of year $37,301,067 · end of year $116,622,979

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $45,425,405 · end of year $41,322,677

  • 8 · Inventories for sale or use

    beginning of year $2,288,509 · end of year $2,811,917

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,931,322 · end of year $16,916,478

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

    $2,536,094,305

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

    $1,278,090,916

  • 10c · Land, buildings and equipment, net

    beginning of year $1,216,680,515 · end of year $1,258,003,389

  • 11 · Investments: publicly traded securities

    beginning of year $1,374,398,390 · end of year $1,348,648,745

  • 12 · Investments: other securities

    beginning of year $7,914,834,974 · end of year $7,773,430,413

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $3,401,948 · end of year $4,793,073

  • 15 · Other assets

    beginning of year $16,076,745 · end of year $9,004,565

  • 17 · Accounts payable and accrued expenses

    beginning of year $154,820,311 · end of year $219,427,333

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $41,518,250 · end of year $43,356,536

  • 20 · Tax-exempt bond liabilities

    beginning of year $477,844,999 · end of year $468,174,999

  • 21 · Escrow or custodial account liability

    beginning of year $44,928,889 · end of year $43,685,020

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $17,196,725 · end of year $15,226,061

  • 24 · Unsecured notes and loans payable

    beginning of year $500,000,000 · end of year $500,000,000

  • 25 · Other liabilities

    beginning of year $442,165,806 · end of year $419,763,814

  • 27 · Net assets without donor restrictions

    beginning of year $2,716,043,977 · end of year $2,962,194,911

  • 28 · Net assets with donor restrictions

    beginning of year $7,053,020,562 · end of year $6,993,915,746

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0

Mission and programs · 2022

Mission

Dartmouth College educates the most promising students and prepares them for a lifetime of learning and of responsible leadership, through a faculty dedicated to teaching and the creation of knowledge.

  • Education and Academic Support: A Dartmouth education is unlike any other. Through person-to-person teaching and opportunities to create and apply knowledge on campus and across the globe, we instill a love of learning and a passion for success. We educate global citizens, gifted writers and artists, wise business leaders, thoughtful doctors, and compassionate engineers. Our faculty are deeply invested in nurturing creativity as well as critical thinking. Our students can explore the cultural underpinnings and economic impacts of great works while creating their own masterpieces, all with the guidance and support of world-class masters of their crafts. Academics at Dartmouth are innovative, interdisciplinary, international, and individualized for each student. Each student's experience is distinguished by breadth, depth, and personal connections with top faculty. The institution comprises the Faculty of the Arts & Sciences, the Guarini School of Graduate and Advanced Studies, and three professional schools: the Thayer School of Engineering, the Tuck School of Business, and the Geisel School of Medicine. Dartmouth's approximately 950-person faculty teaches and guides approximately 6,700 undergraduate and graduate students. Dartmouth's library system directly supports the research and teaching mission of Dartmouth College, as well as the life-long learning needs of the Dartmouth community, by providing access to multiple types of resources, including approximately 2.2 million printed volumes, 54,000 microform volumes, 89,000 other physical formats, 421,000 network resources and 2.1 million electronic books. State-of-the-art computing resources are available to faculty and students to foster innovation and excellence in research and in the curriculum.

    Expenses $813,828,573 · Grants $228,927,665 · Revenue $495,200,692

  • Campus Life: Our close-knit community is a distinctive and enduring feature of the Dartmouth experience. For students, the process of joining and adapting to a new community can be as educationally significant as their academic work. For this reason, Dartmouth invests resources in creating a community that is both stimulating and nurturing. Approximately 90% of Dartmouth undergraduates lived on campus and Dartmouth's diverse dining facilities are an important part of campus life. Athletics at Dartmouth compliment the overall academic and intellectual growth of Dartmouth students, with more than 75% of undergraduates participating in at least one of the 35 varsity teams, 33 club sports teams and several intramural leagues. In addition, facilities such as Dartmouth Skiway and Morton Farm provide an opportunity for recreation and learning beyond the classroom. There are also approximately 380 graduate and undergraduate student groups which allow students to explore interests in diverse areas, including the arts, academics, activism, culture, politics, sustainability, and others.

    Expenses $233,601,610 · Grants $4,409,509 · Revenue $115,550,063

  • Research & Research Support: At Dartmouth, teaching and research are inextricably linked. Dartmouth offers undergraduate students a rigorous curriculum at the forefront of higher education and Dartmouth faculty pursue research at the highest levels of their disciplines. Students conduct independent study through one-on-one supervision with a faculty member or work as a member of a research group in state-of-the-art facilities. Dartmouth is home to world-class scholars in the Faculty of Arts & Sciences, the Guarini School of Graduate and Advanced Studies, the Thayer School of Engineering, the Tuck School of Business, and the Geisel School of Medicine-which has strong ties to the Dartmouth-Hitchcock Clinic and the Mary Hitchcock Memorial Hospital. Our faculty, along with students, seek answers to pressing questions about climate change, cancer immunotherapy, social justice, and cybersecurity, among many other issues central to our time. The collaborative, high-impact solution of real-world problems is integral to our teacher-scholar model, enabling students' hands-on engagement in the joys and challenges of discovery and creation. In addition, Dartmouth has more than 50 wide-ranging centers and institutes, hubs for innovation and excellence across the arts and sciences, that connect our faculty and students to each other in multidisciplinary ways with real-world impacts. During fiscal 2023, faculty and others engaged in sponsored activity received approximately $206 million in awards from external funding agencies.

    Expenses $180,638,554 · Grants $12,241,621 · Revenue $12,004,202

As filed on the 2022 return.

Listed in Part VII

  • Philip Hanlon

    President and Trustee Ex-Officio (through 6/11/2023)

    Total calculated
    $1,875,607
    From this org
    $1,645,360
    From related orgs
    $0
    Other
    $230,247
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,167,332
    Bonus
    $0
    Other
    $478,028
    Deferred
    $27,450
    Nontaxable benefits
    $202,797
    Filer's total
    $1,875,607

  • Sian Beilock

    President and Trustee Ex-Officio (beginning 6/12/2023)

    Total calculated
    $0
    Hours/week
    40

  • Carlos Rodriguez-Pastor

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Christopher Lord

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Christopher Sununu

    Trustee Ex-Officio

    Total calculated
    $0
    Hours/week
    1

  • Constance Womack Britton

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Daniel Black

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Eileen Chamberlain Donahoe

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Elizabeth Cahill Lempres

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Elizabeth Cogan Fascitelli

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Elizabeth Mahoney Loughlin

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Erica Ruliffson Schultz

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Gregg Lemkau

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Hilary C Tompkins

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • James Frank

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Jane P Novak

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Jeffrey Blackburn

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Jeffrey Crowe

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Joyce Sackey

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Neal Katyal

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Odette Harris

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Richard Lewis

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • S Caroline Kerr

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Scott Stuart

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Susan Finegan

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Susan Huang

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • David Kotz

    Provost

    Total calculated
    $837,207
    From this org
    $791,202
    From related orgs
    $0
    Other
    $46,005
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $790,242
    Bonus
    $0
    Other
    $960
    Deferred
    $27,450
    Nontaxable benefits
    $18,555
    Filer's total
    $837,207

  • Richard Mills

    Executive Vice President

    Total calculated
    $807,092
    From this org
    $770,140
    From related orgs
    $0
    Other
    $36,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $770,083
    Bonus
    $0
    Other
    $57
    Deferred
    $27,450
    Nontaxable benefits
    $9,502
    Filer's total
    $807,092

  • Robert Scott Frew

    Chief Financial Officer

    Total calculated
    $444,257
    From this org
    $402,866
    From related orgs
    $0
    Other
    $41,391
    Hours/week
    39.8 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $352,866
    Bonus
    $50,000
    Other
    $0
    Deferred
    $27,450
    Nontaxable benefits
    $13,941
    Filer's total
    $444,257

  • Alice Ruth

    Chief Executive Officer - Investment Office

    Total calculated
    $4,949,590
    From this org
    $4,905,670
    From related orgs
    $0
    Other
    $43,920
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,155,311
    Bonus
    $3,749,200
    Other
    $1,159
    Deferred
    $27,450
    Nontaxable benefits
    $16,470
    Filer's total
    $4,949,590

  • Duane Compton

    Dean, Geisel School of Medicine

    Total calculated
    $868,669
    From this org
    $827,970
    From related orgs
    $0
    Other
    $40,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $827,844
    Bonus
    $0
    Other
    $126
    Deferred
    $27,450
    Nontaxable benefits
    $13,249
    Filer's total
    $868,669

  • Elizabeth Smith

    Dean of Faculty

    Total calculated
    $607,285
    From this org
    $575,579
    From related orgs
    $0
    Other
    $31,706
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $574,127
    Bonus
    $0
    Other
    $1,452
    Deferred
    $27,450
    Nontaxable benefits
    $4,256
    Filer's total
    $607,285

  • Joshua Keniston

    Senior VP Campus Planning & Campus Operations

    Total calculated
    $396,935
    From this org
    $370,342
    From related orgs
    $0
    Other
    $26,593
    Hours/week
    39.8 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $370,342
    Bonus
    $0
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $5,243
    Filer's total
    $396,935

  • Matthew Slaughter

    Dean, Tuck School of Business

    Total calculated
    $952,106
    From this org
    $913,507
    From related orgs
    $0
    Other
    $38,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $911,734
    Bonus
    $0
    Other
    $1,773
    Deferred
    $27,450
    Nontaxable benefits
    $11,149
    Filer's total
    $952,106

  • Robert Lasher

    Sr. Vice President for Advancement

    Total calculated
    $951,473
    From this org
    $916,946
    From related orgs
    $0
    Other
    $34,527
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $731,366
    Bonus
    $185,515
    Other
    $65
    Deferred
    $27,450
    Nontaxable benefits
    $7,077
    Filer's total
    $951,473

  • Sandhya Iyer

    General Counsel and Secretary to the Board of Trustees

    Total calculated
    $685,948
    From this org
    $639,095
    From related orgs
    $0
    Other
    $46,853
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $639,095
    Bonus
    $0
    Other
    $0
    Deferred
    $27,450
    Nontaxable benefits
    $19,403
    Filer's total
    $685,948

  • Jessica Jones

    Managing Director, Investment Office

    Total calculated
    $1,208,266
    From this org
    $1,163,510
    From related orgs
    $0
    Other
    $44,756
    Hours/week
    39.8 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $447,589
    Bonus
    $714,762
    Other
    $1,159
    Deferred
    $27,450
    Nontaxable benefits
    $17,306
    Filer's total
    $1,208,266

  • Kelsey Morgan

    Chief Investment Officer

    Total calculated
    $1,953,503
    From this org
    $1,907,604
    From related orgs
    $0
    Other
    $45,899
    Hours/week
    39.8 + 0.2 related

    Schedule J breakdown matched by us

    Base
    $796,445
    Bonus
    $1,110,000
    Other
    $1,159
    Deferred
    $27,450
    Nontaxable benefits
    $18,449
    Filer's total
    $1,953,503

  • Michael Sullivan

    Managing Director, Investment Office

    Total calculated
    $1,562,055
    From this org
    $1,515,285
    From related orgs
    $0
    Other
    $46,770
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $514,126
    Bonus
    $1,000,000
    Other
    $1,159
    Deferred
    $27,450
    Nontaxable benefits
    $19,320
    Filer's total
    $1,562,055

  • Steven Leach

    Director, Norris Cotton Cancer Center

    Total calculated
    $944,020
    From this org
    $911,986
    From related orgs
    $0
    Other
    $32,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $861,906
    Bonus
    $50,000
    Other
    $80
    Deferred
    $27,450
    Nontaxable benefits
    $4,584
    Filer's total
    $944,020

  • Vijay Govindarajan

    Professor

    Total calculated
    $886,374
    From this org
    $845,225
    From related orgs
    $0
    Other
    $41,149
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $844,012
    Bonus
    $0
    Other
    $1,213
    Deferred
    $27,450
    Nontaxable benefits
    $13,699
    Filer's total
    $886,374

  • Carolyn Dever

    Former Provost

    Total calculated
    $369,798
    From this org
    $336,557
    From related orgs
    $0
    Other
    $33,241
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,557
    Bonus
    $0
    Other
    $0
    Deferred
    $27,450
    Nontaxable benefits
    $5,791
    Filer's total
    $369,798

  • Frank Roberts

    Associate VP, FOM

    Total calculated
    $260,986
    From this org
    $230,178
    From related orgs
    $0
    Other
    $30,808
    Hours/week
    39.9 + 0.1 related

    Schedule J breakdown matched by us

    Base
    $229,578
    Bonus
    $0
    Other
    $600
    Deferred
    $20,125
    Nontaxable benefits
    $10,683
    Filer's total
    $260,986

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 · Tax indemnification and gross-up payments
  • 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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 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 First-class or charter travel
Dartmouth travel policy allows for first or business class air travel for business purposes in limited circumstances. Consistent with this policy, on infrequent occasions senior officers flew first class or business class with the President's approval. The lack of a major commercial airport within 80 miles of Dartmouth requires use of charter air travel to fulfill the East Coast business travel requirements of the President. For this reason, the President and certain senior officers had access for business purposes to charter flight service, the cost of which was fully defrayed by private donations designated for this purpose. Senior officers may join the President when they are traveling to the same destination, but they may not use the charter travel on their own.
Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
The President received a taxable gross up of Medicare tax due to the timing of reported imputed income.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
Dartmouth provided housing for the President. This arrangement was for Dartmouth's convenience and a condition of employment and therefore was not taxable to the President.
Schedule J, Part I, Line 1a Personal services
Dartmouth provided housekeeping services for cleaning and maintaining the President's house. The value of services provided for personal living space was recognized as imputed income to the President.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
Dartmouth provided the President Hanlon with a nonqualified 457(f) supplemental retirement plan. The Plan provided for annual credits to the plan subject to vesting requirements based on continuation of employment through set dates. President Hanlon received $456,667 relative to the Plan during the calendar year 2022. $256,667 of the deferred compensation received had been reported in prior years, as reflected in Column F. Dartmouth provided President Beilock with a nonqualified 457(f) supplemental retirement plan. Due to the fact that President Beilock's term began in June 2023, no amounts were either paid or accrued during FY2023.
Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization
A portion of the incentive bonus for investment office employees is based on meeting certain return targets. A portion of the performance bonus for the Sr. VP of Advancement is based on achieving certain advancement goals.
Schedule J, Part I, Line 7 Non-fixed payments
Alice Ruth, Chief Executive Officer - Investment Office, received incentive compensation of $3,749,200 during calendar year 2022. Kelsey Morgan, Chief Investment Officer, received incentive compensation of $1,110,000 during calendar year 2022. Michael Sullivan, Managing Director in the Investment Office, received incentive compensation of $1,000,000 during calendar year 2022. Jessica Jones, Managing Director in the Investment Office, received incentive compensation of $714,762 during calendar year 2022. Robert Lasher, Senior Vice President for Advancement, received incentive compensation of $185,515 during calendar year 2022. Steven Leach, NCCC Director, received a performance bonus of $50,000 during calendar year 2022. Robert S. Frew, CFO, received supplemental pay of $50,000 during calendar year 2022.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Farmstead TR Holdings LLC

    Excluded · Investments · NJ · 77.12% owned · share of income $6,306,595 · share of assets $0

    Directly controlled by NA

Related corporations and trusts

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

  • Charitable Remainder Unitrusts (82)

    Trust · Fundraising/Development · NH

    Directly controlled by Trustees of Dartmouth College

  • Pooled Income Funds (3)

    Trust · Fundraising/Development · NH

    Directly controlled by Trustees of Dartmouth College

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441359349306269

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