Totals
- Total revenue
- $82,035,491
- Total expenses
- $83,742,711
- Contributions and grants received
- $3,959,622
- Grants paid
- $28,880,567
- Program service revenue
- $76,054,750
- Investment income
- $2,358,744
- Other revenue
- -$337,625
- Total assets, end of year
- $93,026,084
- Total liabilities, end of year
- $32,316,459
- Net assets or fund balances, end of year
- $60,709,625
- Program services expenses (Part IX)
- $70,835,224
- Management and general expenses
- $12,246,098
- Fundraising expenses
- $661,389
- Program service expenses (Part III)
- $70,835,224
Program services were 84.6% 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
$12,270
-
1e · Government grants (contributions)
$1,056,063
-
1f · All other contributions, gifts and grants
$2,891,289
-
1g · Noncash contributions included above
$631,585
-
2a · Program service revenue: Tuition and Fees
total $66,086,899 · related or exempt $66,086,899
-
2b · Program service revenue: Auxiliary Services
total $9,323,831 · related or exempt $5,268,230 · unrelated business $98,675 · excluded $3,956,926
-
2c · Program service revenue: Various Other Income
total $588,529 · related or exempt $588,529
-
2d · Program service revenue: Student Services
total $55,491 · related or exempt $55,491
-
3 · Investment income
total $710,789 · excluded $710,789
-
6a · Gross rents
real property $129,533
-
6b · Less rental expenses
real property $460,964
-
6c · Rental income or loss
real property -$331,431
-
6d · Net rental income or loss
total -$331,431 · excluded -$331,431
-
7a · Gross sales of assets other than inventory
securities $15,785,432 · other assets $4,294,013
-
7b · Less cost or other basis and sales expenses
securities $15,005,808 · other assets $3,425,682
-
7c · Gain or loss
securities $779,624 · other assets $868,331
-
7d · Net gain or loss
total $1,647,955 · excluded $1,647,955
-
8a · Fundraising events: gross income
$17,360
-
8a · Fundraising events: contributions included on line 1c
$12,270
-
8b · Fundraising events: direct expenses
$23,554
-
8c · Net income from fundraising events
total -$6,194 · excluded -$6,194
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $28,880,567 · program services $28,880,567
-
5 · Compensation of officers, directors and key employees
total $788,430 · management and general $788,430
-
7 · Other salaries and wages
total $22,649,282 · program services $19,406,481 · management and general $2,907,435 · fundraising $335,366
-
8 · Pension plan contributions
total $652,100 · program services $568,632 · management and general $73,690 · fundraising $9,778
-
9 · Other employee benefits
total $3,643,674 · program services $3,052,423 · management and general $538,765 · fundraising $52,486
-
10 · Payroll taxes
total $1,740,297 · program services $1,446,028 · management and general $269,405 · fundraising $24,864
-
11a · Fees: management
total $74,475 · program services $74,475
-
11b · Fees: legal
total $111,672 · management and general $111,672
-
11c · Fees: accounting
total $89,825 · management and general $89,825
-
11f · Fees: investment management
total $84,524 · management and general $84,524
-
11g · Fees: other
total $6,073,831 · program services $4,908,748 · management and general $1,063,119 · fundraising $101,964
-
12 · Advertising and promotion
total $2,182,607 · program services $790,095 · management and general $1,392,512
-
13 · Office expenses
total $1,124,395 · program services $320,718 · management and general $762,427 · fundraising $41,250
-
14 · Information technology
total $23,756 · program services $19,000 · management and general $4,756
-
16 · Occupancy
total $5,288,322 · program services $3,197,986 · management and general $2,090,163 · fundraising $173
-
17 · Travel
total $772,186 · program services $702,645 · management and general $49,373 · fundraising $20,168
-
19 · Conferences, conventions and meetings
total $317,387 · program services $235,123 · management and general $11,500 · fundraising $70,764
-
20 · Interest
total $874,821 · program services $766,859 · management and general $107,962
-
22 · Depreciation, depletion and amortization
total $2,727,438 · program services $1,890,401 · management and general $837,037
-
23 · Insurance
total $489,182 · management and general $489,182
-
24a · Other expenses: Food Service Operations
total $2,645,161 · program services $2,645,161
-
24b · Other expenses: All Other Expenses
total $1,688,770 · program services $1,406,712 · management and general $282,058
-
24c · Other expenses: Equipment Purchases
total $629,589 · program services $422,394 · management and general $207,195
-
24d · Other expenses: Dues and Memberships
total $190,420 · program services $100,776 · management and general $85,068 · fundraising $4,576
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,993 · end of year $1,765
-
2 · Savings and temporary cash investments
beginning of year $6,233,933 · end of year $4,047,466
-
3 · Pledges and grants receivable
beginning of year $8,139,017 · end of year $6,915,167
-
4 · Accounts receivable
beginning of year $1,857,270 · end of year $1,959,875
-
7 · Other notes and loans receivable
beginning of year $544,249 · end of year $239,231
-
8 · Inventories for sale or use
beginning of year $144,997 · end of year $163,556
-
9 · Prepaid expenses and deferred charges
beginning of year $1,857,448 · end of year $2,105,037
-
10a · Land, buildings and equipment: cost or other basis
$89,528,451
-
10b · Land, buildings and equipment: accumulated depreciation
$46,523,006
-
10c · Land, buildings and equipment, net
beginning of year $38,268,497 · end of year $43,005,445
-
11 · Investments: publicly traded securities
beginning of year $31,801,897 · end of year $33,648,271
-
14 · Intangible assets
beginning of year $489,533 · end of year $329,443
-
15 · Other assets
beginning of year $5,011,649 · end of year $610,828
-
17 · Accounts payable and accrued expenses
beginning of year $6,887,355 · end of year $7,837,587
-
19 · Deferred revenue
beginning of year $1,496,030 · end of year $1,901,356
-
20 · Tax-exempt bond liabilities
beginning of year $23,546,325 · end of year $18,836,798
-
23 · Secured mortgages and notes payable
beginning of year $62,500 · end of year $3,250,000
-
24 · Unsecured notes and loans payable
beginning of year $175,870 · end of year $161,275
-
25 · Other liabilities
beginning of year $565,533 · end of year $329,443
-
27 · Net assets without donor restrictions
beginning of year $21,705,556 · end of year $21,754,573
-
28 · Net assets with donor restrictions
beginning of year $39,912,314 · end of year $38,955,052
Mission and programs · 2024
Mission
New England College emphasizes experiential learning as an essential component in the development of an enduring academic community. Building upon a strong liberal arts foundation, we challenge our students to reach their full potential through informed discourse and the pursuit of excellence in a framework of academic freedom that reflects the following values: imaginative, innovative, and creative approaches to all their endeavors; respect for self in the development of personal, social, physical and intellectual abilities; caring and collaborative relationships among members of our community; respect for the varied qualities of individuals, communities, and the world; an appreciation of beauty and elegance in the search for truth; inquiry into and the pursuit of social justice; ethical and responsible citizenship, including service to the community; the pursuit of ecological sustainability; continuous learning and a lifetime of personal achievement.
Activities or mission (Part I)
An independent liberal arts college offering undergraduate, graduate and professional programs.
-
The College provides an education that develops critical and creative thinking abilities, effective communication skills, and responsible academic and social commitments; historical and comparative understanding of the humanities, social sciences, and natural sciences; responsiveness to ethical and humane concerns; respect for gender, ethnicity, generational, racial and religious identities, and an appreciation for natural environments and world cultures; and a foundation for lifelong learning. New England College offers undergraduate, graduate and professional programs leading to the degrees of Bachelor of Arts, Bachelor of Science, Master of Science, Master of Education and a doctorate in Higher Education Administration and K-12 Leadership.
Expenses $70,835,224 · Grants $28,880,567 · Revenue $76,054,750
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Wayne F Lesperance
President
- Total calculated
- $428,337
- From this org
- $411,087
- From related orgs
- $0
- Other
- $17,250
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $375,000
- Bonus
- $0
- Other
- $36,087
- Deferred
- $17,250
- Nontaxable benefits
- $0
- Filer's total
- $428,337
-
Alexander Scourby
Chair
- Total calculated
- $0
- Hours/week
- 10
-
TJ Whitelaw
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Astrid Williams
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Ray Apy
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Karen Backus
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Emmanuel Balogun PhD
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Peter Bordes
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Christopher Brazill
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Farmen
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Elbridge T Gerry III
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Katherine Haley PhD
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Don Hasseltine
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Adam Kapner
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Stephen Ketchum
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Jay Lucas
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Daniel Lynch
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Markey
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Eric Morgan
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Clarke Smith III
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Lori Scherer
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Mary Simon Streep
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr Michael K Thomas
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey Towle
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Bill Wyman
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Paula A Amato CMA
Executive Vice President & CFO
- Total calculated
- $360,093
- From this org
- $315,171
- From related orgs
- $0
- Other
- $44,922
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $290,171
- Bonus
- $0
- Other
- $25,000
- Deferred
- $15,000
- Nontaxable benefits
- $29,922
- Filer's total
- $360,093
-
James Murtha PhD
Sr. VP of Academic Alliances
- Total calculated
- $341,280
- From this org
- $291,906
- From related orgs
- $0
- Other
- $49,374
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $291,906
- Bonus
- $0
- Other
- $0
- Deferred
- $14,711
- Nontaxable benefits
- $34,663
- Filer's total
- $341,280
-
William P Deptula
VP of Advancement
- Total calculated
- $263,216
- From this org
- $214,524
- From related orgs
- $0
- Other
- $48,692
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $214,524
- Bonus
- $0
- Other
- $0
- Deferred
- $11,386
- Nontaxable benefits
- $37,306
- Filer's total
- $263,216
-
David M Rubin
VP of Information Technology
- Total calculated
- $235,120
- From this org
- $189,670
- From related orgs
- $0
- Other
- $45,450
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $189,670
- Bonus
- $0
- Other
- $0
- Deferred
- $10,000
- Nontaxable benefits
- $35,450
- Filer's total
- $235,120
-
Patricia M Corbett
VP of Academic Affairs
- Total calculated
- $192,734
- From this org
- $183,588
- From related orgs
- $0
- Other
- $9,146
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $183,588
- Bonus
- $0
- Other
- $0
- Deferred
- $9,146
- Nontaxable benefits
- $0
- Filer's total
- $192,734
-
Bradley F Poznanski
VP of Enrollment Management
- Total calculated
- $194,787
- From this org
- $164,579
- From related orgs
- $0
- Other
- $30,208
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $164,579
- Bonus
- $0
- Other
- $0
- Deferred
- $4,375
- Nontaxable benefits
- $25,833
- Filer's total
- $194,787
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 · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 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
Answered no
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part I, Line 4b
- During 2024, Dr. Wayne F. Lesperance and Paula A. Amato each received a disbursement of $25,000 from their respective 457(f) retirement plans.
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 25 January 2026
- IRS schema version
- 2024v5.5
- Source object
- 202630309349300613
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.