Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $479,774

• 1e · Government grants (contributions)

  $10,021,969

• 1f · All other contributions, gifts and grants

  $50,071,223

• 1g · Noncash contributions included above

  $6,485,324

• 2a · Program service revenue: TUITION AND OTHER STUDENT FEES

  total $121,697,932 · related or exempt $121,697,932

• 2b · Program service revenue: HOUSING & MEALS

  total $30,958,701 · related or exempt $30,958,701

• 2c · Program service revenue: DINING SERVICES

  total $737,784 · related or exempt $737,784

• 2d · Program service revenue: BOX OFFICE/EVENTS

  total $477,226 · related or exempt $477,226

• 2e · Program service revenue: CONSORTIUM FEES

  total $281,582 · related or exempt $281,582

• 2f · All other program service revenue

  total $1,400,378 · related or exempt $1,400,378

• 3 · Investment income

  total $30,081,110 · unrelated business $2,590,634 · excluded $27,490,476

• 5 · Royalties

  total $482,474 · excluded $482,474

• 6a · Gross rents

  real property $1,147,789

• 6b · Less rental expenses

  real property $1,236,304

• 6c · Rental income or loss

  real property -$88,515

• 6d · Net rental income or loss

  total -$88,515 · excluded -$88,515

• 7a · Gross sales of assets other than inventory

  securities $409,721,541

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

  securities $278,669,430

• 7c · Gain or loss

  securities $131,052,111

• 7d · Net gain or loss

  total $131,052,111 · unrelated business $2,600,892 · excluded $128,451,219

• 8a · Fundraising events: gross income

  $43,950

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

  $479,774

• 8b · Fundraising events: direct expenses

  $262,260

• 8c · Net income from fundraising events

  total -$218,310 · excluded -$218,310

• 11a · Other revenue: SUMMER PROGRAMS

  total $970,337 · related or exempt $955,474 · unrelated business $14,863

• 11b · Other revenue: SOLAR

  total $529,728 · excluded $529,728

• 11c · Other revenue: OTHER RESIDENCE HALL

  total $107,203 · related or exempt $107,203

• 11d · All other revenue

  total $232,372 · related or exempt $232,372

• 11e · Other revenue, total

  $1,839,640

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $454,697 · program services $454,697

• 2 · Grants to domestic individuals

  total $74,601,241 · program services $74,601,241

• 3 · Grants to foreign organizations and individuals

  total $3,572,991 · program services $3,572,991

• 5 · Compensation of officers, directors and key employees

  total $8,450,624 · program services $2,378,225 · management and general $4,542,975 · fundraising $1,529,424

• 7 · Other salaries and wages

  total $114,923,298 · program services $101,754,448 · management and general $7,574,781 · fundraising $5,594,069

• 8 · Pension plan contributions

  total $9,473,817 · program services $8,264,685 · management and general $693,131 · fundraising $516,001

• 9 · Other employee benefits

  total $18,160,186 · program services $14,480,987 · management and general $2,907,910 · fundraising $771,289

• 10 · Payroll taxes

  total $9,757,973 · program services $8,511,474 · management and general $744,748 · fundraising $501,751

• 11b · Fees: legal

  total $828,288 · program services $45,806 · management and general $782,482

• 11c · Fees: accounting

  total $468,250 · program services $10,000 · management and general $458,250

• 11d · Fees: lobbying

  total $5,445 · program services $5,445

• 11f · Fees: investment management

  total $49,907,255 · management and general $49,907,255

• 11g · Fees: other

  total $16,788,696 · program services $14,156,295 · management and general $2,279,014 · fundraising $353,387

• 12 · Advertising and promotion

  total $984,843 · program services $497,549 · management and general $364,643 · fundraising $122,651

• 13 · Office expenses

  total $4,002,303 · program services $3,168,817 · management and general $725,026 · fundraising $108,460

• 14 · Information technology

  total $5,408,918 · program services $2,776,273 · management and general $2,505,983 · fundraising $126,662

• 15 · Royalties

  total $81,452 · program services $81,452

• 16 · Occupancy

  total $11,206,693 · program services $9,915,809 · management and general $1,100,969 · fundraising $189,915

• 17 · Travel

  total $4,124,199 · program services $3,564,866 · management and general $359,137 · fundraising $200,196

• 19 · Conferences, conventions and meetings

  total $888,331 · program services $486,571 · management and general $183,729 · fundraising $218,031

• 20 · Interest

  total $20,667,141 · program services $15,480,858 · management and general $4,889,811 · fundraising $296,472

• 22 · Depreciation, depletion and amortization

  total $20,064,562 · program services $17,501,353 · management and general $2,562,133 · fundraising $1,076

• 23 · Insurance

  total $2,584,339 · program services $2,166,077 · management and general $416,644 · fundraising $1,618

• 24a · Other expenses: FOOD

  total $7,464,254 · program services $7,057,151 · management and general $319,872 · fundraising $87,231

• 24b · Other expenses: EQUIPMENT AND FURNITURE

  total $5,177,938 · program services $4,471,376 · management and general $569,994 · fundraising $136,568

• 24c · Other expenses: LIBRARY BOOKS/MEDIA

  total $3,474,240 · program services $3,474,240

• 24d · Other expenses: SPONSORED RESEARCH

  total $2,842,701 · program services $2,842,701

• 24e · All other expenses

  total $4,820,755 · program services $4,207,646 · management and general $566,532 · fundraising $46,577

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,426,645 · end of year $1,153,497

• 2 · Savings and temporary cash investments

  beginning of year $391,243,443 · end of year $320,875,436

• 3 · Pledges and grants receivable

  beginning of year $46,947,030 · end of year $49,840,066

• 4 · Accounts receivable

  beginning of year $2,577,720 · end of year $3,491,141

• 5 · Loans and receivables from officers and key people

  beginning of year $640,000 · end of year $580,000

• 7 · Other notes and loans receivable

  beginning of year $8,812,703 · end of year $8,812,703

• 8 · Inventories for sale or use

  beginning of year $176,616 · end of year $131,400

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,049,841 · end of year $2,572,574

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

  $1,080,501,353

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

  $349,434,933

• 10c · Land, buildings and equipment, net

  beginning of year $660,370,805 · end of year $731,066,420

• 11 · Investments: publicly traded securities

  beginning of year $528,483,043 · end of year $346,982,529

• 12 · Investments: other securities

  beginning of year $3,555,390,372 · end of year $3,785,280,696

• 13 · Investments: program-related

  beginning of year $1,044,016 · end of year $662,219

• 15 · Other assets

  beginning of year $49,069,877 · end of year $50,923,034

• 17 · Accounts payable and accrued expenses

  beginning of year $20,374,633 · end of year $30,711,434

• 19 · Deferred revenue

  beginning of year $1,634,406 · end of year $2,359,036

• 20 · Tax-exempt bond liabilities

  beginning of year $134,520,000 · end of year $132,140,000

• 23 · Secured mortgages and notes payable

  beginning of year $507,024,298 · end of year $503,838,834

• 25 · Other liabilities

  beginning of year $118,412,754 · end of year $104,608,323

• 27 · Net assets without donor restrictions

  beginning of year $1,491,874,460 · end of year $1,501,603,615

• 28 · Net assets with donor restrictions

  beginning of year $2,982,391,560 · end of year $3,027,110,473

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT IS REQUIRED TO MAINTAIN A PERSONAL RESIDENCE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. CERTAIN PERSONAL SERVICES ARE PROVIDED TO MAINTAIN THIS RESIDENCE. OCCASIONAL PERSONAL SERVICES PROVIDED TO THE PRESIDENT ARE CONSIDERED PERSONAL EXPENSES AND ADDED TO THE PRESIDENT'S TAXABLE COMPENSATION INCLUDING THE VALUE OF THE RELATED TAX LIABILITY. IN ACCORDANCE WITH AMHERST'S TRAVEL POLICY, FIRST CLASS AIR TRAVEL IS PERMITTED FOR A BONA FIDE BUSINESS PURPOSE FOR THE PRESIDENT AND STAFF. IT IS THE COLLEGE'S POLICY TO GROSS UP CERTAIN PAYMENTS FOR TAX PURPOSES.

PART I, LINES 4A-B

LINE 4A: ABBEY SILBERMAN FAGIN RECEIVED SEVERANCE IN THE AMOUNT OF $79,055. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). LINE 4B: THE COLLEGE ESTABLISHED A DEFERRED COMPENSATION PLAN FOR CERTAIN EMPLOYEES. THE TERMS OF EACH PLAN PROVIDE FOR THE COLLEGE TO MAKE ANNUAL SET-ASIDES AND LUMP SUM PAYOUTS AT THE VESTING DATE OF THE PLAN, PROVIDED THE EMPLOYEE REMAINS IN THEIR POSITION UNTIL THE VESTING DATE OF THEIR RESPECTIVE PLAN. MICHAEL WITMORE RECEIVED A PAYMENT IN THE AMOUNT OF $103,000. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III).

PART I, LINE 7

TO RECRUIT AND RETAIN QUALIFIED TALENT, THE INSTITUTION PERIODICALLY USES INCENTIVE COMPENSATION. THESE AMOUNTS ARE INCLUDED 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.

• COLLEGIATE CATALYST FUND LLC

  CAPTIVE INSURANCE · VT · income -$575,950 · assets $1,390,540

  Directly controlled by AMHERST

Related partnerships

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

• AMHERST INN OWNER LLC

  REAL ESTATE · MA

• AMHERST INN TENANT LLC

  NONRES. RENTAL · MA

Related corporations and trusts

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

• AMHERST INN COMPANY - DE

  C · HOSPITALITY · DE · 100% owned · share of income -$963,065 · share of assets $17,244,390 · controlled entity

  Directly controlled by TRUSTEES OF AC

• CHARITABLE UNITRUSTS - CA (4)

  T · CHARITABLE TRUST · CA · controlled entity

• CHARITABLE UNITRUSTS - CT (2)

  T · CHARITABLE TRUST · CT · controlled entity

• CHARITABLE UNITRUSTS - FL (4)

  T · CHARITABLE TRUST · FL · controlled entity

• CHARITABLE UNITRUSTS - GA (1)

  T · CHARITABLE TRUST · GA · controlled entity

• CHARITABLE UNITRUSTS - MA (109)

  T · CHARITABLE TRUST · MA · controlled entity

• CHARITABLE UNITRUSTS - MI (1)

  T · CHARITABLE TRUST · MI · controlled entity

• CHARITABLE UNITRUSTS - NC (1)

  T · CHARITABLE TRUST · NC · controlled entity

• CHARITABLE UNITRUSTS - NJ (2)

  T · CHARITABLE TRUST · NJ · controlled entity

• CHARITABLE UNITRUSTS - NY (1)

  T · CHARITABLE TRUST · NY · controlled entity

• CHARITABLE UNITRUSTS - OH (2)

  T · CHARITABLE TRUST · OH · controlled entity

• CHARITABLE UNITRUSTS - PA (2)

  T · CHARITABLE TRUST · PA · controlled entity

• CHARITABLE UNITRUSTS - TX (1)

  T · CHARITABLE TRUST · TX · controlled entity

• CHARITABLE UNITRUSTS - WA (1)

  T · CHARITABLE TRUST · WA · controlled entity