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Nonprofiteer
← BABSON COLLEGE

Form 990 for tax year 2022

Filed by BABSON COLLEGE.

Totals

Total revenue
$344,014,371
Total expenses
$305,464,086
Contributions and grants received
$48,818,122
Grants paid
$62,386,411
Program service revenue
$269,429,722
Investment income
$22,533,869
Other revenue
$3,232,658
Total assets, end of year
$1,116,080,345
Total liabilities, end of year
$249,328,947
Net assets or fund balances, end of year
$866,751,398
Program services expenses (Part IX)
$262,708,597
Management and general expenses
$31,318,538
Fundraising expenses
$11,436,951
Program service expenses (Part III)
$262,708,597

Program services were 86.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • STEPHEN SPINELLI

    PRESIDENT

    Total calculated
    $942,113
    From this org
    $831,897
    From related orgs
    $0
    Other
    $110,216
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $635,887
    Bonus
    $100,000
    Other
    $96,010
    Deferred
    $33,660
    Nontaxable benefits
    $76,556
    Filer's total
    $942,113

  • HARSHA AGADI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • CHRISTINE ANGELAKIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • PATRICK BAIRD

    TRUSTEE (UNTIL 6/30/23)

    Total calculated
    $0
    Hours/week
    1.2

  • THE HONORABLE CRAIG BENSON

    VICE CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1.2

  • ETTORE V BIAGIONI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • ANDREW J BUTLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • STEVE CANNON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • CYRIL CAMUS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • ANTHONY CHIASSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • WARREN CROSS JR

    VICE CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1.2

  • RICHELIEU DENNIS JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • DEBORAH DE SANTIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • CRAIG M DONALDSON

    TRUSTEE (UNTIL 10/21/22)

    Total calculated
    $0
    Hours/week
    1.2

  • BRETT A GORDON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • BRUCE HERRING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • ERIC JOHNSON

    VICE CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1.2

  • JOHN JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • FRED SC KIANG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • MICHAEL S LORBER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • WASI MAHI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • JEFFREY MCLANE

    TREASURER

    Total calculated
    $0
    Hours/week
    1.2

  • CHRISTOPHER MALONE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • RAMON MENDIOLA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • GEOFFREY MOLSON

    TRUSTEE (UNTIL 3/16/23)

    Total calculated
    $0
    Hours/week
    1.2

  • JEFFERY PERRY

    CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1.2

  • KENNETH G ROMANZI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • JAMES A RULLO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2 + 1.2 related

  • SOMIA FARID SILBER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • AMANDA STRONG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • DAVIDE VISCO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • ROBERT E WEISSMAN

    TRUSTEE (UNTIL 4/4/23)

    Total calculated
    $0
    Hours/week
    1.2

  • RACHEL ZELCER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.2

  • KATHERINE CRAVEN

    CHIEF ADMIN./FINANCIAL OFFICER

    Total calculated
    $565,871
    From this org
    $531,608
    From related orgs
    $0
    Other
    $34,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $435,840
    Bonus
    $76,600
    Other
    $19,168
    Deferred
    $33,660
    Nontaxable benefits
    $603
    Filer's total
    $565,871

  • KENICHI MATSUNO

    VP ACADEMIC AFFAIRS & DEAN

    Total calculated
    $443,024
    From this org
    $408,772
    From related orgs
    $0
    Other
    $34,252
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $406,000
    Bonus
    $0
    Other
    $2,772
    Deferred
    $33,660
    Nontaxable benefits
    $592
    Filer's total
    $443,024

  • MICHAEL LAYISH

    SECRETARY & CLERK

    Total calculated
    $348,816
    From this org
    $276,646
    From related orgs
    $0
    Other
    $72,170
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,512
    Bonus
    $13,876
    Other
    $3,258
    Deferred
    $29,877
    Nontaxable benefits
    $42,293
    Filer's total
    $348,816

  • JAY RAO

    PROFESSOR

    Total calculated
    $546,026
    From this org
    $483,510
    From related orgs
    $0
    Other
    $62,516
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $461,555
    Bonus
    $0
    Other
    $21,955
    Deferred
    $22,067
    Nontaxable benefits
    $40,449
    Filer's total
    $546,026

  • RICHARD BLISS

    PROFESSOR

    Total calculated
    $549,346
    From this org
    $503,840
    From related orgs
    $0
    Other
    $45,506
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $496,925
    Bonus
    $0
    Other
    $6,915
    Deferred
    $28,906
    Nontaxable benefits
    $16,600
    Filer's total
    $549,346

  • D R WIDDER

    VP OF INNOVATION

    Total calculated
    $492,412
    From this org
    $428,323
    From related orgs
    $0
    Other
    $64,089
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,905
    Bonus
    $196,059
    Other
    $12,359
    Deferred
    $24,768
    Nontaxable benefits
    $39,321
    Filer's total
    $492,412

  • KELLY LYNCH

    SENIOR VICE PRESIDENT

    Total calculated
    $548,898
    From this org
    $512,455
    From related orgs
    $0
    Other
    $36,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $406,453
    Bonus
    $74,840
    Other
    $31,162
    Deferred
    $33,660
    Nontaxable benefits
    $2,783
    Filer's total
    $548,898

  • BEN CHEVRETTE

    VICE PRESIDENT, DEVELOPMENT

    Total calculated
    $451,230
    From this org
    $387,934
    From related orgs
    $0
    Other
    $63,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $292,906
    Bonus
    $51,242
    Other
    $43,786
    Deferred
    $33,660
    Nontaxable benefits
    $29,636
    Filer's total
    $451,230

  • EDWARD CHIU

    SR. VP OF ADVANCEMENT. SEE SCH. O.

    Total calculated
    $858,649
    From this org
    $767,077
    From related orgs
    $0
    Other
    $91,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $557,067
    Bonus
    $188,838
    Other
    $21,172
    Deferred
    $33,660
    Nontaxable benefits
    $57,912
    Filer's total
    $858,649

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 · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A:
HOUSING ALLOWANCE AND PERSONAL SERVICES: THE PRESIDENT IS REQUIRED TO LIVE IN CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF BABSON COLLEGE. THE FAIR MARKET VALUE OF THE HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT. HEALTH OR SOCIAL CLUB: THE PRESIDENT AND SR. VP OF ADVANCEMENT RECEIVED AN ANNUAL MEMBERSHIP TO A LOCAL COUNTRY CLUB FOR BUSINESS USE RELATED TO THE COLLEGE.
SCHEDULE J, PART I, LINE 1B:
ALL OF THE ITEMS CHECKED ABOVE ARE INCLUDED AS PART OF THE INDIVIDUAL'S EMPLOYMENT CONTRACT AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES.
SCHEDULE J, PART I, LINE 4B:
EFFECTIVE JULY 1, 2019 THE COLLEGE ENTERED INTO A NON-QUALIFIED SECTION 457(F) ARRANGEMENT WITH ITS PRESIDENT. UNDER THE TERMS OF THE PLAN, THE PRESIDENT WILL RECEIVE A CREDIT TO HIS ACCOUNT OF NO LESS THAN $52,500 FOR EACH PLAN YEAR HE HOLDS THE TITLE OF THE PRESIDENT OF THE COLLEGE ON JUNE 30TH OF SUCH PLAN YEAR. AMOUNTS AWARDED UNDER THE PLAN WERE 100% VESTED AT THE TIME OF THE AWARD. $52,500 WAS CREDITED IN 2022 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN B (III).
SCHEDULE J, PART I, LINE 7:
CERTAIN LISTED INDIVIDUALS MAY RECEIVE A NON-FIXED PAYMENT BONUS. ALL BONUSES ARE APPROVED BY THE PRESIDENT AND REVIEWED BY HUMAN RESOURCES.
SCHEDULE J, PART I, LINE 8:
STEPHEN SPINELLI, PRESIDENT AS OF 7/1/2019, IS UNDER HIS INITIAL CONTRACT WITH BABSON COLLEGE.

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.

  • BABSON GLOBAL INC

    501(C)(3) · SUPPORTING ORGANIZATION · MA · controlled entity

    Directly controlled by BABSON 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.

Related corporations and trusts

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

  • CHARITABLE REMAINDER UNITRUST (2)

    T · FUNDRAISING · MA

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411359349309786

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

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