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Nonprofiteer
← ALBRIGHT COLLEGE

Form 990 for tax year 2023

Filed by ALBRIGHT COLLEGE.

Totals

Total revenue
$61,687,498
Total expenses
$84,379,091
Contributions and grants received
$5,539,839
Grants paid
$20,687,034
Program service revenue
$50,573,565
Investment income
$3,832,703
Other revenue
$1,741,391
Total assets, end of year
$224,581,987
Total liabilities, end of year
$153,166,555
Net assets or fund balances, end of year
$71,415,432
Program services expenses (Part IX)
$68,856,182
Management and general expenses
$13,669,938
Fundraising expenses
$1,852,971
Program service expenses (Part III)
$68,856,182

Program services were 81.6% 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

    $84,155

  • 1e · Government grants (contributions)

    $2,372,784

  • 1f · All other contributions, gifts and grants

    $3,082,900

  • 1g · Noncash contributions included above

    $183,919

  • 2a · Program service revenue: TUITION AND FEES

    total $37,952,566 · related or exempt $37,952,566

  • 2b · Program service revenue: AUX ENT - ROOM AND BOARD

    total $12,470,296 · related or exempt $12,470,296

  • 2c · Program service revenue: AUX ENT - OTHER PROGRAM INCOME

    total $94,401 · related or exempt $94,401

  • 2d · Program service revenue: STUDENT LOAN INTEREST AND FEES

    total $56,302 · related or exempt $56,302

  • 3 · Investment income

    total $2,867,189 · unrelated business $115,459 · excluded $2,751,730

  • 5 · Royalties

    total $581,977 · excluded $581,977

  • 6a · Gross rents

    real property $453,573

  • 6b · Less rental expenses

    real property $110,933

  • 6c · Rental income or loss

    real property $342,640

  • 6d · Net rental income or loss

    total $342,640 · unrelated business $51,888 · excluded $290,752

  • 7a · Gross sales of assets other than inventory

    securities $9,890,000

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

    securities $8,924,486

  • 7c · Gain or loss

    securities $965,514

  • 7d · Net gain or loss

    total $965,514 · excluded $965,514

  • 8a · Fundraising events: gross income

    $28,928

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

    $84,155

  • 8b · Fundraising events: direct expenses

    $40,050

  • 8c · Net income from fundraising events

    total -$11,122 · excluded -$11,122

  • 11a · Other revenue: TOTAL EXPERIENCE LEARNING PROGRAM

    total $292,834 · excluded $292,834

  • 11b · Other revenue: ATHLETICS AND AQUATICS PROG

    total $170,231 · related or exempt $5,702 · unrelated business $164,529

  • 11c · Other revenue: CONFERENCE ACCOMMODATIONS

    total $133,765 · unrelated business $133,765

  • 11d · All other revenue

    total $231,066 · related or exempt $32,602 · excluded $198,464

  • 11e · Other revenue, total

    $827,896

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $20,687,034 · program services $20,687,034

  • 5 · Compensation of officers, directors and key employees

    total $883,290 · program services $403,126 · management and general $394,217 · fundraising $85,947

  • 7 · Other salaries and wages

    total $21,699,801 · program services $15,976,065 · management and general $4,789,334 · fundraising $934,402

  • 8 · Pension plan contributions

    total $777,780 · program services $591,515 · management and general $151,757 · fundraising $34,508

  • 9 · Other employee benefits

    total $3,913,720 · program services $2,909,980 · management and general $826,633 · fundraising $177,107

  • 10 · Payroll taxes

    total $1,640,399 · program services $1,195,661 · management and general $370,585 · fundraising $74,153

  • 11b · Fees: legal

    total $345,703 · management and general $345,703

  • 11c · Fees: accounting

    total $116,453 · management and general $116,453

  • 11f · Fees: investment management

    total $38,684 · management and general $38,684

  • 11g · Fees: other

    total $4,488,784 · program services $1,242,067 · management and general $3,072,343 · fundraising $174,374

  • 12 · Advertising and promotion

    total $802,067 · program services $367,830 · management and general $434,237

  • 13 · Office expenses

    total $2,002,660 · program services $1,459,160 · management and general $463,874 · fundraising $79,626

  • 14 · Information technology

    total $708,662 · program services $379,969 · management and general $328,693

  • 15 · Royalties

    total $416 · program services $416

  • 16 · Occupancy

    total $4,162,142 · program services $4,051,284 · management and general $91,509 · fundraising $19,349

  • 17 · Travel

    total $549,465 · program services $463,104 · management and general $65,633 · fundraising $20,728

  • 19 · Conferences, conventions and meetings

    total $75,897 · program services $64,158 · management and general $11,739

  • 20 · Interest

    total $2,890,745 · program services $2,688,682 · management and general $166,796 · fundraising $35,267

  • 22 · Depreciation, depletion and amortization

    total $7,462,206 · program services $6,940,598 · management and general $430,569 · fundraising $91,039

  • 23 · Insurance

    total $1,060,655 · program services $991,271 · management and general $57,274 · fundraising $12,110

  • 24a · Other expenses: FOOD SERVICES

    total $3,664,087 · program services $3,664,087

  • 24b · Other expenses: MISCELLANEOUS

    total $3,041,020 · program services $1,813,885 · management and general $1,132,518 · fundraising $94,617

  • 24c · Other expenses: EMPL./STUDENT EXPENSES

    total $2,426,324 · program services $2,027,699 · management and general $381,030 · fundraising $17,595

  • 24d · Other expenses: RECRUITMENT

    total $668,113 · program services $668,113

  • 24e · All other expenses

    total $272,984 · program services $270,478 · management and general $357 · fundraising $2,149

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $114,057 · end of year $143,537

  • 2 · Savings and temporary cash investments

    beginning of year $3,142,319 · end of year $6,943,004

  • 3 · Pledges and grants receivable

    beginning of year $10,010,288 · end of year $1,399,032

  • 4 · Accounts receivable

    beginning of year $1,226,660 · end of year $765,978

  • 8 · Inventories for sale or use

    beginning of year $290,431 · end of year $222,059

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,454,219 · end of year $1,260,792

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

    $196,871,386

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

    $124,795,311

  • 10c · Land, buildings and equipment, net

    beginning of year $73,947,215 · end of year $72,076,075

  • 11 · Investments: publicly traded securities

    beginning of year $37,152,085 · end of year $39,893,811

  • 12 · Investments: other securities

    beginning of year $16,970,543 · end of year $14,788,582

  • 13 · Investments: program-related

    beginning of year $1,998,947 · end of year $1,055,743

  • 14 · Intangible assets

    beginning of year $36,576,009 · end of year $70,930,643

  • 15 · Other assets

    beginning of year $13,069,579 · end of year $15,102,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,415,952 · end of year $8,030,858

  • 18 · Grants payable

    beginning of year $2,544,407 · end of year $1,589,549

  • 19 · Deferred revenue

    beginning of year $2,652,684 · end of year $4,541,562

  • 20 · Tax-exempt bond liabilities

    beginning of year $34,141,075 · end of year $38,243,519

  • 23 · Secured mortgages and notes payable

    beginning of year $8,805,996 · end of year $16,816,621

  • 24 · Unsecured notes and loans payable

    beginning of year $4,692,430 · end of year $4,377,600

  • 25 · Other liabilities

    beginning of year $43,938,703 · end of year $79,566,846

  • 27 · Net assets without donor restrictions

    beginning of year $8,273,427 · end of year -$17,239,946

  • 28 · Net assets with donor restrictions

    beginning of year $82,487,678 · end of year $88,655,378

Mission and programs · 2023

Mission

AS A DIVERSE COMMUNITY OF LEARNERS, WE CULTIVATE INTEGRITY, CURIOSITY, CONNECTION AND RESILIENCE.

Activities or mission (Part I)

PROMOTING A COMMITMENT TO LIFELONG LEARNING WITH A FOUNDATION IN THE LIBERAL ARTS.

  • NAMED A TOP NATIONAL COLLEGE BY U.S. NEWS & WORLD REPORT, ALBRIGHT COLLEGE, READING, PA., (FOUNDED 1856) IS HOME TO ENGAGING FACULTY WHO BELIEVE THAT THE BEST ACADEMIC MOMENTS ARE WHEN STUDENTS FEEL INSPIRED AND READY TO TAKE ACTION. THE COLLEGE'S DISTINCTIVE CO-MAJOR PROGRAM ENABLES STUDENTS TO CROSS OR COMBINE DIFFERENT AREAS OF STUDY, WITHOUT TAKING LONGER TO GRADUATE. STUDY ALONGSIDE UNDERGRADUATE STUDENTS, ADULT LEARNERS AND GRADUATE STUDENTS, AND IGNITE YOUR SPARK AT ALBRIGHT COLLEGE.ALBRIGHT FACULTY BELIEVE THAT THE BEST ACADEMIC MOMENTS ARE WHEN STUDENTS FEEL INSPIRED AND READY TO TAKE ACTION. THE ALBRIGHT EXPERIENCE IS DESIGNED TO SPARK EACH STUDENT'S VISION FOR A MEANINGFUL FUTURE SO THAT THEY GRADUATE READY TO MAKE AN IMPACT ON OUR RAPIDLY CHANGING WORLD.STUDENTS ARE ENCOURAGED TO FORGE THEIR OWN PATH THROUGH STUDENT-DRIVEN LEARNING EXPERIENCES AND FOCUS THEIR FLAME BY CONNECTING YOUR PASSIONS IN FACULTY-LED EXPERIENCES. MORE THAN HALF OF ALBRIGHT STUDENTS TAKE ADVANTAGE OF THE COLLEGE'S DISTINCTIVE CO-MAJOR PROGRAM, WHICH ENABLES STUDENTS TO CROSS OR COMBINE DIFFERENT PROGRAMS, WITHOUT TAKING LONGER TO GRADUATE. IN ADDITION TO FACULTY MENTORS AND ALBRIGHT'S CAREER CENTER PROFESSIONALS, EACH STUDENT IS ASSIGNED A PERSONAL FOUR-YEAR SUCCESS COACH TO HELP THEM NAVIGATE COLLEGE AND STAY ON TRACK.AT ALBRIGHT, STUDENTS LEARN TO ASK QUESTIONS, THINK CREATIVELY, DEVELOP INNOVATIVE IDEAS AND SOLVE PROBLEMS. THEY ARE PREPARED TO BECOME AGENTS FOR CHANGE/SPARKS IN THE WORLD.ALBRIGHT IS A SUPPORTIVE, 24/7 RESIDENTIAL COMMUNITY WITH MORE THAN 70 STUDENT GROUPS, HONOR SOCIETIES, CLUBS, GREEK LIFE AND A VARIETY OF AFFINITY HOUSES - ALL OFFERING OPPORTUNITIES FOR LEADERSHIP AND SERVICE. MORE THAN A THIRD OF UNDERGRADUATES PARTICIPATE ON ALBRIGHT'S DIVISION III ATHLETIC TEAMS FOR WHICH THE QUALITY OF THE EDUCATIONAL EXPERIENCE AND SUCCESSFUL DEGREE COMPLETION ARE PRIORITIES.ALBRIGHT ALSO OFFERS ONLINE BACHELOR'S AND MASTER'S DEGREE PROGRAMS, CERTIFICATES AND PROFESSIONAL DEVELOPMENT FOR EDUCATORS. DESIGNED TO IGNITE THE SPARK OF FUTURE TEACHERS THROUGH PERSONALIZED LEARNING, ALBRIGHT COLLEGE'S NEW SCHOOL OF EDUCATIONAL INNOVATION OFFERS A RANGE OF DEEPLY EXPERIENTIAL EDUCATION DEGREES, ALL OF WHICH INCORPORATE THE GROUNDBREAKING TOTAL EXPERIENCE LEARNING METHODOLOGY, AVAILABLE ONLY AT ALBRIGHT.ALBRIGHT HAS BEEN RECOGNIZED AS ONE OF THE TOP COLLEGES IN THE COUNTRY FOR ITS SUCCESS IN ENROLLING AND SEEING ECONOMICALLY-DISADVANTAGED STUDENTS THROUGH TO GRADUATION. AFTER GRADUATION, MEDIAN INCOME LEVELS OF ALBRIGHT ALUMNI OUTPACE THE EARNINGS OF GRADUATES FROM MOST OTHER PRIVATE AND PUBLIC COLLEGES.53% PERSONALIZE DEGREES | 83% LIVE ON CAMPUS | 41% OUT-OF-STATE STUDENTS | 97% RECEIVE FINANCIAL AID | 48% NON-WHITE | 33% STUDENT-ATHLETES | 12:1 STUDENT-FACULTY RATIO | 150+ PERSONALIZED COMBINATION OF MAJORS.RECENT ACCOLADES INCLUDE:TOP NATIONAL LIBERAL ARTS COLLEGE U.S. NEWS & WORLD REPORT TOP 31 IN NATION ON SOCIAL MOBILITY U.S. NEWS & WORLD REPORT BEST COLLEGES FOR CAREER DEVELOPMENT COLLEGES OF DISTINCTION BEST MID-ATLANTIC COLLEGES PRINCETON REVIEW BEST LIBERAL ARTS COLLEGES WASHINGTON MONTHLY BEST BANG FOR THE BUCK WASHINGTON MONTHLY GRADS EARN HIGH ROI GEORGETOWN STUDY90% MED SCHOOL ACCEPTANCE RATE90% LAW SCHOOL ACCEPTANCE RATE

    Expenses $68,856,182 · Grants $20,687,034 · Revenue $50,611,869

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jacquelyn S Fetrow PhD

    PRESIDENT

    Total calculated
    $428,945
    From this org
    $401,920
    From related orgs
    $0
    Other
    $27,025
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $0
    Other
    $1,920
    Deferred
    $17,000
    Nontaxable benefits
    $10,025
    Filer's total
    $428,945
  • Ronald Scheese

    CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Tiffenia D Archie

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Stephanie Dupaul EdD

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Suzanne E Anderson Med Pcc

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Dwight Davis Mdiv

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Benedetto Franco

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Josephine A Gruber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Kristine Hazzard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Daniel B Huyett Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Rev Robin M Hynicka Mdiv

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Scott Keaton CPA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Karen A Marrongelle PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • John P McAllister

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Wc Jack Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Tami Correll Pinchiaroli

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Deborah St Clair Radwanski PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Michael H Reese

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Bjorn Reigle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Yamil Sanchez Rivera EdD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Michael D Scales

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jorge J Scheirer MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • John Schultz Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Patricia F Shermot Cme Cude

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Nancy G Shores JD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Peter D Stanislawczyk

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Susannah B Truitt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Charnita Zeigler-Johnson PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • David W Stonesifer CPA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Ted C Abrams

    TRUSTEE (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    1
  • Thomas A Chaves

    TRUSTEE (UNTIL 01/24)

    Total calculated
    $0
    Hours/week
    1
  • Kenneth S Lakin

    TRUSTEE (UNTIL 11/23)

    Total calculated
    $0
    Hours/week
    1
  • Michael D Liss CPA

    TRUSTEE (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    1
  • Jeffrey L Strader

    VP, FINANCE/STRATEGIC PARTNERSHIPS

    Total calculated
    $182,564
    From this org
    $162,138
    From related orgs
    $0
    Other
    $20,426
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $0
    Other
    $2,138
    Deferred
    $8,000
    Nontaxable benefits
    $12,426
    Filer's total
    $182,564
  • Karen Campbell

    SR. VP FOR ACADEMIC AFFAIRS

    Total calculated
    $161,569
    From this org
    $144,423
    From related orgs
    $0
    Other
    $17,146
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,563
    Bonus
    $0
    Other
    $1,860
    Deferred
    $7,121
    Nontaxable benefits
    $10,025
    Filer's total
    $161,569
  • Brenda Ingram-Wallace

    ASSOC. VP, ADVOCACY/FULL PARTIC.

    Total calculated
    $161,371
    From this org
    $144,803
    From related orgs
    $0
    Other
    $16,568
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,124
    Bonus
    $0
    Other
    $1,679
    Deferred
    $6,543
    Nontaxable benefits
    $10,025
    Filer's total
    $161,371
  • Rodney Warfield

    PROF. OF EDUCATION

    Total calculated
    $160,711
    From this org
    $145,641
    From related orgs
    $0
    Other
    $15,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,380
    Bonus
    $0
    Other
    $1,261
    Deferred
    $5,045
    Nontaxable benefits
    $10,025
    Filer's total
    $160,711
  • Lisa Wilder

    DEAN OF PROF. STUDIES

    Total calculated
    $156,356
    From this org
    $127,541
    From related orgs
    $0
    Other
    $28,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,806
    Bonus
    $0
    Other
    $735
    Deferred
    $5,507
    Nontaxable benefits
    $23,308
    Filer's total
    $156,356
  • Joshua Williamson

    COLLEGE PHYSICIAN

    Total calculated
    $157,406
    From this org
    $122,665
    From related orgs
    $0
    Other
    $34,741
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,320
    Bonus
    $0
    Other
    $345
    Deferred
    $6,030
    Nontaxable benefits
    $28,711
    Filer's total
    $157,406
  • Gertrude Eguae-Obazee

    PROF. OF ACCOUNTING

    Total calculated
    $137,852
    From this org
    $112,974
    From related orgs
    $0
    Other
    $24,878
    Hours/week
    40
  • Michael D'Errico

    ASST. PROFESSOR OF MUSIC

    Total calculated
    $138,394
    From this org
    $106,003
    From related orgs
    $0
    Other
    $32,391
    Hours/week
    40

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 · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 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)

PART I, LINE 1A
HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: A COLLEGE-OWNED HOUSE IS PROVIDED AS A RESIDENCE FOR THE PRESIDENT AND FAMILY. THE COLLEGE-OWNED HOUSING IS NOT TREATED AS A TAXABLE BENEFIT TO THE PRESIDENT SINCE IT MEETS THE DEFINITION OF 'QUALIFIED CAMPUS LODGING' UNDER INTERNAL REVENUE CODE SECTION 119(D). TRAVEL FOR COMPANIONS: TRAVEL WAS PROVIDED FOR THE PRESIDENT'S SPOUSE WHEN SUCH TRAVEL WAS NECESSARY FOR THE FURTHERANCE OF THE WORK OF THE COLLEGE. THE TRAVEL IS CONSIDERED NECESSARY FOR THE PRESIDENT'S POSITION AND IS THEREFORE NOT TREATED AS TAXABLE COMPENSATION.

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 corporations and trusts

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

  • NORTH THIRTEENTH STREET INC

    C · REAL ESTATE RENTAL · PA · 100% owned · controlled entity

    Directly controlled by ALBRIGHT COLLEGE

  • ALBRIGHT COLLEGE COSTA RICA SA

    C · LAND INVESTMENT · CS · 100% owned · share of income $77,862 · share of assets $219,155 · controlled entity

    Directly controlled by ALBRIGHT COLLEGE

Provenance

Return type
form_990
Tax year
2023
Filed
14 April 2025
IRS schema version
2023v6.0
Source object
202521059349302282

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