Totals
- Total revenue
- $204,695,513
- Total expenses
- $158,238,547
- Contributions and grants received
- $34,644,039
- Grants paid
- $41,032,815
- Program service revenue
- $117,016,245
- Investment income
- $52,927,966
- Other revenue
- $107,263
- Total assets, end of year
- $1,135,702,740
- Total liabilities, end of year
- $180,387,429
- Net assets or fund balances, end of year
- $955,315,311
- Program services expenses (Part IX)
- $139,503,029
- Management and general expenses
- $12,714,662
- Fundraising expenses
- $6,020,856
- Program service expenses (Part III)
- $139,503,029
Program services were 88.2% 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)
$2,658,676
-
1f · All other contributions, gifts and grants
$31,985,363
-
1g · Noncash contributions included above
$16,803,352
-
2a · Program service revenue: Tuition and fees
total $97,220,960 · related or exempt $97,220,960 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Aux-Dorm fees
total $8,847,706 · related or exempt $8,847,706 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Aux-Cafeteria fees
total $7,221,145 · related or exempt $7,221,145 · unrelated business $0 · excluded $0
-
2d · Program service revenue: Aux-Bookstore fees
total $893,552 · related or exempt $893,552 · unrelated business $0 · excluded $0
-
2e · Program service revenue: Other fees
total $2,832,882 · related or exempt $2,832,882 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,903,247 · related or exempt $0 · unrelated business $4,150,026 · excluded -$1,246,779
-
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 $487,882 · personal property $0
-
6b · Less rental expenses
real property $380,619 · personal property $0
-
6c · Rental income or loss
real property $107,263 · personal property $0
-
6d · Net rental income or loss
total $107,263 · related or exempt $0 · unrelated business $0 · excluded $107,263
-
7a · Gross sales of assets other than inventory
securities $154,289,306 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $104,264,587 · other assets $0
-
7c · Gain or loss
securities $50,024,719 · other assets $0
-
7d · Net gain or loss
total $50,024,719 · related or exempt $0 · unrelated business $1,162,603 · excluded $48,862,116
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0 · unrelated business $0 · excluded $0
-
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
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0 · program services $0
-
2 · Grants to domestic individuals
total $41,032,815 · program services $41,032,815
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $2,867,566 · program services $904,649 · management and general $1,433,973 · fundraising $528,944
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $45,740,252 · program services $40,038,282 · management and general $2,671,820 · fundraising $3,030,150
-
8 · Pension plan contributions
total $4,295,453 · program services $3,618,110 · management and general $362,827 · fundraising $314,516
-
9 · Other employee benefits
total $12,539,554 · program services $10,562,212 · management and general $1,059,188 · fundraising $918,154
-
10 · Payroll taxes
total $3,528,501 · program services $2,972,097 · management and general $298,045 · fundraising $258,359
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $336,454 · program services $296,596 · management and general $27,962 · fundraising $11,896
-
11c · Fees: accounting
total $222,010 · program services $1,762 · management and general $220,248 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $42,995 · fundraising $42,995
-
11f · Fees: investment management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11g · Fees: other
total $14,945,024 · program services $13,952,973 · management and general $775,246 · fundraising $216,805
-
12 · Advertising and promotion
total $0 · program services $0 · management and general $0 · fundraising $0
-
13 · Office expenses
total $7,099,640 · program services $6,709,557 · management and general $221,612 · fundraising $168,471
-
14 · Information technology
total $2,226,251 · program services $1,977,812 · management and general $164,195 · fundraising $84,244
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $2,717,482 · program services $2,665,623 · management and general $44,027 · fundraising $7,832
-
17 · Travel
total $2,533,059 · program services $2,023,699 · management and general $188,073 · fundraising $321,287
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $0 · program services $0 · management and general $0 · fundraising $0
-
20 · Interest
total $5,030,004 · program services $4,752,759 · management and general $235,295 · fundraising $41,950
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $7,276,260 · program services $6,901,689 · management and general $317,894 · fundraising $56,677
-
23 · Insurance
total $1,612,528 · program services $648,846 · management and general $963,576 · fundraising $106
-
24e · All other expenses
total $4,192,699 · program services $443,548 · management and general $3,730,681 · fundraising $18,470
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $43,703 · end of year $35,429
-
2 · Savings and temporary cash investments
beginning of year $11,221,978 · end of year $21,400,328
-
3 · Pledges and grants receivable
beginning of year $4,163,599 · end of year $4,530,856
-
4 · Accounts receivable
beginning of year $2,607,385 · end of year $1,604,836
-
5 · Loans and receivables from officers and key people
beginning of year $45,699 · end of year $39,949
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $1,644,425 · end of year $1,488,593
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,411,946 · end of year $848,266
-
10a · Land, buildings and equipment: cost or other basis
$321,316,254
-
10b · Land, buildings and equipment: accumulated depreciation
$138,631,654
-
10c · Land, buildings and equipment, net
beginning of year $169,073,868 · end of year $182,684,600
-
11 · Investments: publicly traded securities
beginning of year $171,373,929 · end of year $144,072,996
-
12 · Investments: other securities
beginning of year $671,740,531 · end of year $775,150,072
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $7,630,414 · end of year $3,846,815
-
17 · Accounts payable and accrued expenses
beginning of year $9,354,865 · end of year $11,121,604
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $1,782,975 · end of year $1,021,431
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
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 $123,928,790 · end of year $123,966,202
-
25 · Other liabilities
beginning of year $42,598,665 · end of year $44,278,192
-
27 · Net assets without donor restrictions
beginning of year $467,513,696 · end of year $509,145,769
-
28 · Net assets with donor restrictions
beginning of year $395,778,486 · end of year $446,169,542
Mission and programs · 2023
Mission
The mission of Reed College is to provide education in the liberal arts and sciences.
Activities or mission (Part I)
Provide education in the liberal arts and sciences
-
The Institute had 34 research grants funded with federal funds. Departments funded were Biology, Chemistry, Humanities, Physics, Psychology, Math, Sociology, and the nuclear reactor.
Expenses $2,386,292 · Revenue $2,386,292
-
1,422 FTE Students as of Fall 2023, 315 degrees conferred 23/24.
Expenses $114,670,641 · Grants $41,032,815 · Revenue $97,079,537
-
Auxiliary services - students living in dorms, using dining facilities and bookstore.
Expenses $22,446,096 · Revenue $17,550,416
As filed on the 2023 return.
Listed in Part VII
-
Audrey Bilger
President
- Total calculated
- $722,346
- From this org
- $670,868
- From related orgs
- $0
- Other
- $51,478
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $586,664
- Bonus
- $0
- Other
- $84,204
- Deferred
- $33,000
- Nontaxable benefits
- $18,478
- Filer's total
- $722,346
-
Erik Bernhardt
Chief Investment Officer
- Total calculated
- $487,984
- From this org
- $431,048
- From related orgs
- $0
- Other
- $56,936
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $369,009
- Bonus
- $61,176
- Other
- $863
- Deferred
- $33,000
- Nontaxable benefits
- $23,936
- Filer's total
- $487,984
-
Hugh Porter
Vice President for College Relations and Planning
- Total calculated
- $470,680
- From this org
- $416,077
- From related orgs
- $0
- Other
- $54,603
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $414,232
- Bonus
- $0
- Other
- $1,845
- Deferred
- $33,000
- Nontaxable benefits
- $21,603
- Filer's total
- $470,680
-
Lynn Valenter
Vice President of Finance and Treasurer
- Total calculated
- $420,040
- From this org
- $368,557
- From related orgs
- $0
- Other
- $51,483
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $367,657
- Bonus
- $0
- Other
- $900
- Deferred
- $33,000
- Nontaxable benefits
- $18,483
- Filer's total
- $420,040
-
Kathryn Oleson
Dean of the Faculty
- Total calculated
- $295,931
- From this org
- $249,710
- From related orgs
- $0
- Other
- $46,221
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $249,710
- Bonus
- $0
- Other
- $0
- Deferred
- $24,971
- Nontaxable benefits
- $21,250
- Filer's total
- $295,931
-
Milyon Trulove
Vice President and Dean of Admission and Financial Aid
- Total calculated
- $290,430
- From this org
- $242,477
- From related orgs
- $0
- Other
- $47,953
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $241,577
- Bonus
- $0
- Other
- $900
- Deferred
- $24,158
- Nontaxable benefits
- $23,795
- Filer's total
- $290,430
-
Valerie Moreno
Chief Information & Security Officer
- Total calculated
- $277,337
- From this org
- $235,608
- From related orgs
- $0
- Other
- $41,729
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $235,608
- Bonus
- $0
- Other
- $0
- Deferred
- $23,561
- Nontaxable benefits
- $18,168
- Filer's total
- $277,337
-
Andrew Lonergan
Director of Investments
- Total calculated
- $272,051
- From this org
- $230,980
- From related orgs
- $0
- Other
- $41,071
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $197,054
- Bonus
- $33,086
- Other
- $840
- Deferred
- $19,705
- Nontaxable benefits
- $21,366
- Filer's total
- $272,051
-
Karnell McConnell-Black
Vice President for Student Life
- Total calculated
- $259,756
- From this org
- $226,879
- From related orgs
- $0
- Other
- $32,877
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $226,879
- Bonus
- $0
- Other
- $0
- Deferred
- $22,688
- Nontaxable benefits
- $10,189
- Filer's total
- $259,756
-
Phyllis Esposito
Vice President and Dean for Institutional Diversity
- Total calculated
- $246,155
- From this org
- $206,975
- From related orgs
- $0
- Other
- $39,180
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $206,975
- Bonus
- $0
- Other
- $0
- Deferred
- $20,698
- Nontaxable benefits
- $18,482
- Filer's total
- $246,155
-
Robert Tust
Associate Treasurer and Controller
- Total calculated
- $243,214
- From this org
- $201,741
- From related orgs
- $0
- Other
- $41,473
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,741
- Bonus
- $0
- Other
- $0
- Deferred
- $20,174
- Nontaxable benefits
- $21,299
- Filer's total
- $243,214
-
Sheena McFarland
Executive Director Public Affairs & Communications
- Total calculated
- $241,658
- From this org
- $206,667
- From related orgs
- $0
- Other
- $34,991
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,667
- Bonus
- $0
- Other
- $15,000
- Deferred
- $18,333
- Nontaxable benefits
- $16,658
- Filer's total
- $241,658
-
Sarah Panetta
Executive Director of Advancement
- Total calculated
- $236,830
- From this org
- $202,770
- From related orgs
- $0
- Other
- $34,060
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,670
- Bonus
- $0
- Other
- $1,100
- Deferred
- $20,167
- Nontaxable benefits
- $13,893
- Filer's total
- $236,830
-
Laurence 'Larry' Abramson '80
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Julia P Adams '80
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Alea Adigweme '06
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Konrad S Alt '81
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Michael S Axley '89
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Carla J Beam '76
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Peter J Bragdon
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
M Jane Buchan
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Julie JL Cheng '84
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Thomas O Daniel
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas G Galakatos '79
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Edward 'Ned' Hall '87
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Linda G Howard '70
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
George M James '77
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Deborah D Kamali '85
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Amy M Madigan
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Alex J Martinez '73
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Winthrop 'Win' McCormack
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Margaret Hill Noto '75
Trustee-Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Eduardo M Ochoa '73
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Ritankar 'Ronti' Pal '93
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Darlene D Pasieczny '01
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Roger M Perlmutter '73
Trustee-Chair
- Total calculated
- $0
- Hours/week
- 1
-
Gary Rieschel '79
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Saldana '94
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
John P Sheehy '82
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Tina Sohaili-Korbonits '07
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Susan Sokol Blosser '86
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Alice Larkin Steiner '74
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Peter C Stockman '77
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Richard 'Rick' H Wollenberg '75
Trustee-Vice Chair
- Total calculated
- $0
- Hours/week
- 1
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 · Tax indemnification and gross-up payments
- 1a · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- Housing is required as a condition of employment for the President and is provided as a taxable benefit. In limited circumstances, first-class accommodations are provided for the president and companion travel for bona-fide business purposes. The college pays membership dues to health and social clubs for use by certain officers for meetings and networking related to college business. The college does not directly indemnify individuals in regard to taxes; however, it has in some circumstances, grossed-up the benefit to offset a portion of the employee's taxable benefit.
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.
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.
-
Excluded · Holding Company · OR · 67% owned · share of income $50,039 · share of assets $223,456 · general or managing partner
Directly controlled by REED INSTITUTE
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · Rental Activity · OR · 100% owned · share of income $40,833 · share of assets $990,259 · controlled entity
Directly controlled by The Reed Institute
-
Charitable remainder trust (27)
T · Trust · OR
Directly controlled by The Reed Institute
-
Pooled Income Fund (1)
T · Pooled Income Fund · OR
Directly controlled by The Reed Institute
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 17 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531279349301508
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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