Totals
- Total revenue
- $358,779,440
- Total expenses
- $324,301,654
- Contributions and grants received
- $54,837,938
- Grants paid
- $63,420,928
- Program service revenue
- $272,301,619
- Investment income
- $28,340,746
- Other revenue
- $3,299,137
- Total assets, end of year
- $1,197,853,331
- Total liabilities, end of year
- $255,409,697
- Net assets or fund balances, end of year
- $942,443,634
- Program services expenses (Part IX)
- $276,679,073
- Management and general expenses
- $34,548,878
- Fundraising expenses
- $13,073,703
- Program service expenses (Part III)
- $276,679,073
Program services were 85.3% 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.
-
1e · Government grants (contributions)
$10,823,192
-
1f · All other contributions, gifts and grants
$44,014,746
-
1g · Noncash contributions included above
$1,219,605
-
2a · Program service revenue: TUITION & FEES
total $217,236,418 · related or exempt $217,236,418
-
2b · Program service revenue: ROOM & BOARD
total $41,112,267 · related or exempt $41,112,267
-
2c · Program service revenue: ED/NON-ED PROGRAM REV.
total $13,952,934 · related or exempt $13,845,805 · unrelated business $107,129
-
3 · Investment income
total $9,364,322 · unrelated business -$770,330 · excluded $10,134,652
-
6a · Gross rents
real property $3,299,137
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $3,299,137
-
6d · Net rental income or loss
total $3,299,137 · excluded $3,299,137
-
7a · Gross sales of assets other than inventory
securities $110,400,731
-
7b · Less cost or other basis and sales expenses
securities $91,424,307
-
7c · Gain or loss
securities $18,976,424
-
7d · Net gain or loss
total $18,976,424 · unrelated business $251,171 · excluded $18,725,253
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $58,533,689 · program services $58,533,689
-
3 · Grants to foreign organizations and individuals
total $4,887,239 · program services $4,887,239
-
5 · Compensation of officers, directors and key employees
total $2,769,222 · program services $591,518 · management and general $1,632,226 · fundraising $545,478
-
6 · Compensation of disqualified persons
total $1,251,798 · program services $1,251,798
-
7 · Other salaries and wages
total $118,483,252 · program services $94,070,813 · management and general $18,160,579 · fundraising $6,251,860
-
8 · Pension plan contributions
total $8,891,328 · program services $7,059,347 · management and general $1,362,823 · fundraising $469,158
-
9 · Other employee benefits
total $15,052,398 · program services $11,950,983 · management and general $2,307,164 · fundraising $794,251
-
10 · Payroll taxes
total $7,773,573 · program services $6,171,896 · management and general $1,191,498 · fundraising $410,179
-
11b · Fees: legal
total $333,526 · management and general $333,526
-
11c · Fees: accounting
total $369,185 · program services $38,250 · management and general $330,935
-
11f · Fees: investment management
total $1,645,782 · management and general $1,645,782
-
11g · Fees: other
total $393,470 · program services $104,486 · management and general $286,969 · fundraising $2,015
-
12 · Advertising and promotion
total $7,801,435 · program services $6,732,977 · management and general $912,025 · fundraising $156,433
-
13 · Office expenses
total $8,310,553 · program services $6,737,107 · management and general $930,472 · fundraising $642,974
-
14 · Information technology
total $7,656,102 · program services $7,122,338 · management and general $307,951 · fundraising $225,813
-
16 · Occupancy
total $17,589,989 · program services $17,300,225 · management and general $223,148 · fundraising $66,616
-
17 · Travel
total $12,220,901 · program services $9,728,881 · management and general $1,384,940 · fundraising $1,107,080
-
19 · Conferences, conventions and meetings
total $2,877,478 · program services $2,877,478
-
20 · Interest
total $5,273,051 · program services $5,273,051
-
22 · Depreciation, depletion and amortization
total $19,196,799 · program services $18,880,772 · management and general $243,373 · fundraising $72,654
-
24a · Other expenses: FOOD & BEVERAGE SERVICE
total $13,159,690 · program services $12,426,368 · management and general $5,613 · fundraising $727,709
-
24b · Other expenses: PROFESSIONAL CONSULTING
total $7,235,361 · program services $3,726,956 · management and general $3,275,106 · fundraising $233,299
-
24c · Other expenses: BAD DEBT EXPENSE
total $1,268,270 · program services $37,189 · management and general $12,748 · fundraising $1,218,333
-
24d · Other expenses: STUDENT FEE EXPENSE
total $1,175,712 · program services $1,175,712
-
24e · All other expenses
total $151,851 · management and general $2,000 · fundraising $149,851
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $66,640,113 · end of year $58,722,811
-
2 · Savings and temporary cash investments
beginning of year $5,309,117 · end of year $5,601,815
-
3 · Pledges and grants receivable
beginning of year $71,011,576 · end of year $69,538,652
-
4 · Accounts receivable
beginning of year $4,670,983 · end of year $3,941,596
-
7 · Other notes and loans receivable
beginning of year $579,256 · end of year $389,310
-
9 · Prepaid expenses and deferred charges
beginning of year $9,539,982 · end of year $13,364,583
-
10a · Land, buildings and equipment: cost or other basis
$639,932,426
-
10b · Land, buildings and equipment: accumulated depreciation
$344,819,408
-
10c · Land, buildings and equipment, net
beginning of year $264,160,347 · end of year $295,113,018
-
11 · Investments: publicly traded securities
beginning of year $186,562,085 · end of year $174,855,632
-
12 · Investments: other securities
beginning of year $499,202,379 · end of year $566,177,554
-
15 · Other assets
beginning of year $8,404,507 · end of year $10,148,360
-
17 · Accounts payable and accrued expenses
beginning of year $38,555,299 · end of year $50,835,356
-
19 · Deferred revenue
beginning of year $56,742,942 · end of year $58,423,810
-
20 · Tax-exempt bond liabilities
beginning of year $130,322,651 · end of year $123,550,520
-
23 · Secured mortgages and notes payable
beginning of year $15,915,000 · end of year $14,550,000
-
25 · Other liabilities
beginning of year $7,793,055 · end of year $8,050,011
-
27 · Net assets without donor restrictions
beginning of year $323,593,323 · end of year $372,524,492
-
28 · Net assets with donor restrictions
beginning of year $543,158,075 · end of year $569,919,142
Mission and programs · 2023
Mission
BABSON COLLEGE EDUCATES ENTREPRENEURIAL LEADERS WHO IMPACT COMMUNITIES EVERYWHERE.
Activities or mission (Part I)
BABSON COLLEGE EDUCATES ENTREPRENEURIAL LEADERS WHO CREATE GREAT ECONOMIC AND SOCIAL VALUE EVERYWHERE. BABSON COLLEGE IS A GLOBAL LEADER IN MANAGEMENT EDUCATION WITH APPROXIMATELY 2,800 UNDERGRADUATE AND NEARLY 1,200 GRADUATE ENROLLMENT. OUR INNOVATIVE CURRICULA CHALLENGE STUDENTS TO THINK CREATIVELY AND ACROSS DISCIPLINARY BOUNDARIES. WE CULTIVATE THE WILLINGNESS TO TAKE AND MANAGE RISK, THE ABILITY TO ENERGIZE OTHERS TOWARD A GOAL, AND THE COURAGE TO ACT RESPONSIBLY. OUR STUDENTS UNDERSTAND THAT LEADERSHIP REQUIRES BOTH TECHNICAL KNOWLEDGE AND A SOPHISTICATED APPRECIATION OF INSTITUTIONS, SOCIETIES, CULTURES, AND THE SELF. THEY WELCOME THE CHALLENGE OF LEARNING CONTINUOUSLY AND TAKING RESPONSIBILITY FOR THEIR CAREERS. OUR STUDENTS WILL BE KEY CONTRIBUTORS IN ESTABLISHED ENTERPRISES AS WELL AS EMERGING VENTURES.
-
BABSON COLLEGE ENROLLS APPROXIMATELY 2,800 UNDERGRADUATE AND NEARLY 1,200 GRADUATE STUDENTS FROM THE UNITED STATES AND MORE THAN 80 COUNTRIES WORLDWIDE. THE COLLEGE OFFERS EDUCATION IN BUSINESS AND LIBERAL ARTS, AND IT GRANTS THE BACHELOR OF SCIENCE DEGREE THROUGH ITS UNDERGRADUATE PROGRAM. THE COLLEGE ALSO GRANTS MASTER OF BUSINESS ADMINISTRATION DEGREES AND CUSTOM MASTER OF SCIENCE DEGREES THROUGH THE F.W. OLIN GRADUATE SCHOOL OF BUSINESS AT BABSON COLLEGE. ADDITIONALLY, BABSON OFFERS DISTINCT EXECUTIVE EDUCATION PROGRAMS TO HELP COMPANIES REACH THEIR STRATEGIC GOALS.
Expenses $276,679,073 · Grants $63,420,928 · Revenue $272,194,490
As filed on the 2023 return.
Listed in Part VII
-
Stephen SpinelliSTEPHEN SPINELLI
PRESIDENT
- Total calculated
- $898,681
- From this org
- $780,591
- From related orgs
- $0
- Other
- $118,090
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $561,081
- Bonus
- $100,000
- Other
- $119,510
- Deferred
- $42,996
- Nontaxable benefits
- $75,094
- Filer's total
- $898,681
-
Harsha AgadiHARSHA AGADI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Christine AngelakisCHRISTINE ANGELAKIS
TRUSTEE (UNTIL 10/16/23)
- Total calculated
- $0
- Hours/week
- 1.2
-
The Honorable Craig BensonTHE HONORABLE CRAIG BENSON
VICE CHAIR, BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 1.2
-
Ettore V BiagioniETTORE V BIAGIONI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Philip H BoutonPHILIP H BOUTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Martha BuckleyMARTHA BUCKLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Andrew J ButlerANDREW J BUTLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Steve CannonSTEVE CANNON
TRUSTEE (UNTIL 9/28/23)
- Total calculated
- $0
- Hours/week
- 1.2
-
Cyril C CamusCYRIL C CAMUS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Anthony ChiassonANTHONY CHIASSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Warren Cross JrWARREN CROSS JR
VICE CHAIR, TRUSTEE (UNTIL OCT. 23)
- Total calculated
- $0
- Hours/week
- 1.2
-
Richelieu Dennis JrRICHELIEU DENNIS JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Deborah De SantisDEBORAH DE SANTIS
VICE CHAIR, BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 1.2
-
Brett A GordonBRETT A GORDON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Bruce HerringBRUCE HERRING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Ryusuke HonjoRYUSUKE HONJO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Eric JohnsonERIC JOHNSON
VICE CHAIR, BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 1.2
-
John JohnsonJOHN JOHNSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Fred Sc KiangFRED SC KIANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Michael S LorberMICHAEL S LORBER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Wasi MahiWASI MAHI
TRUSTEE (UNTIL 10/20/23)
- Total calculated
- $0
- Hours/week
- 1.2
-
Jeffrey McLaneJEFFREY MCLANE
TREASURER
- Total calculated
- $0
- Hours/week
- 1.2
-
Audrey McLoughlinAUDREY MCLOUGHLIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Christopher MaloneCHRISTOPHER MALONE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Ramon MendiolaRAMON MENDIOLA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Corey N O'NeillCOREY N O'NEILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Jeffery PerryJEFFERY PERRY
CHAIR, BOARD OF TRUSTEES
- Total calculated
- $0
- Hours/week
- 1.2
-
Kenneth G RomanziKENNETH G ROMANZI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
James A RulloJAMES A RULLO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2 + 1.2 related
-
Somia Farid SilberSOMIA FARID SILBER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Amanda StrongAMANDA STRONG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Davide ViscoDAVIDE VISCO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1.2
-
Rachel ZelcerRACHEL ZELCER
TRUSTEE (UNTIL 10/20/23)
- Total calculated
- $0
- Hours/week
- 1.2
-
Katherine CravenKATHERINE CRAVEN
CHIEF ADMIN./FINANCIAL OFFICER
- Total calculated
- $523,231
- From this org
- $479,277
- From related orgs
- $0
- Other
- $43,954
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $430,811
- Bonus
- $25,000
- Other
- $23,466
- Deferred
- $42,996
- Nontaxable benefits
- $958
- Filer's total
- $523,231
-
Kenichi MatsunoKENICHI MATSUNO
VP ACADEMIC AFFAIRS & DEAN
- Total calculated
- $458,631
- From this org
- $414,772
- From related orgs
- $0
- Other
- $43,859
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $412,000
- Bonus
- $0
- Other
- $2,772
- Deferred
- $42,996
- Nontaxable benefits
- $863
- Filer's total
- $458,631
-
Michael LayishMICHAEL LAYISH
SECRETARY & CLERK
- Total calculated
- $403,567
- From this org
- $314,797
- From related orgs
- $0
- Other
- $88,770
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $314,021
- Bonus
- $0
- Other
- $776
- Deferred
- $41,946
- Nontaxable benefits
- $46,824
- Filer's total
- $403,567
-
Edward ChiuEDWARD CHIU
SR. VP OF ADVANCEMENT
- Total calculated
- $991,503
- From this org
- $903,647
- From related orgs
- $0
- Other
- $87,856
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $650,681
- Bonus
- $240,000
- Other
- $12,966
- Deferred
- $42,996
- Nontaxable benefits
- $44,860
- Filer's total
- $991,503
-
Richard BlissRICHARD BLISS
PROFESSOR
- Total calculated
- $558,833
- From this org
- $508,398
- From related orgs
- $0
- Other
- $50,435
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $504,149
- Bonus
- $0
- Other
- $4,249
- Deferred
- $32,101
- Nontaxable benefits
- $18,334
- Filer's total
- $558,833
-
Jay RaoJAY RAO
PROFESSOR
- Total calculated
- $557,512
- From this org
- $483,409
- From related orgs
- $0
- Other
- $74,103
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $474,483
- Bonus
- $0
- Other
- $8,926
- Deferred
- $28,661
- Nontaxable benefits
- $45,442
- Filer's total
- $557,512
-
Ben ChevretteBEN CHEVRETTE
VICE PRESIDENT, DEVELOPMENT
- Total calculated
- $547,208
- From this org
- $470,206
- From related orgs
- $0
- Other
- $77,002
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $383,799
- Bonus
- $86,000
- Other
- $407
- Deferred
- $42,996
- Nontaxable benefits
- $34,006
- Filer's total
- $547,208
-
D R WidderD R WIDDER
VP OF INNOVATION
- Total calculated
- $531,430
- From this org
- $449,627
- From related orgs
- $0
- Other
- $81,803
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $291,309
- Bonus
- $157,000
- Other
- $1,318
- Deferred
- $37,651
- Nontaxable benefits
- $44,152
- Filer's total
- $531,430
-
Phillip KimPHILLIP KIM
PROFESSOR
- Total calculated
- $512,410
- From this org
- $433,196
- From related orgs
- $0
- Other
- $79,214
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $416,638
- Bonus
- $0
- Other
- $16,558
- Deferred
- $31,943
- Nontaxable benefits
- $47,271
- Filer's total
- $512,410
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 2023 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.
-
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
- 2023
- Filed
- 5 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511329349303471
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