Totals
- Total revenue
- $86,163,480
- Total expenses
- $80,555,688
- Contributions and grants received
- $11,393,764
- Grants paid
- $22,045,483
- Program service revenue
- $60,071,463
- Investment income
- $1,692,242
- Other revenue
- $13,006,011
- Total assets, end of year
- $175,053,841
- Total liabilities, end of year
- $48,042,397
- Net assets or fund balances, end of year
- $127,011,444
- Program services expenses (Part IX)
- $69,746,647
- Management and general expenses
- $9,868,183
- Fundraising expenses
- $940,858
- Program service expenses (Part III)
- $69,746,647
Program services were 86.6% 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
$136,101
-
1e · Government grants (contributions)
$9,205,825
-
1f · All other contributions, gifts and grants
$2,051,838
-
2a · Program service revenue: Tuition and Fee Income
total $50,769,378 · related or exempt $50,769,378
-
2b · Program service revenue: Dormitories, Food, Service, Campus Store
total $6,913,490 · related or exempt $6,913,490
-
2c · Program service revenue: Elementary School - Pre K to Grade 8
total $1,708,430 · related or exempt $1,708,430
-
2d · Program service revenue: Food Services Revenue
total $363,420 · related or exempt $363,420
-
2e · Program service revenue: Other Program Service Revenue
total $316,745 · related or exempt $316,745
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,232,921 · unrelated business $19,692 · excluded $1,213,229
-
6a · Gross rents
real property $7,200
-
6b · Less rental expenses
real property $17,067
-
6c · Rental income or loss
real property -$9,867 · personal property $0
-
6d · Net rental income or loss
total -$9,867 · excluded -$9,867
-
7a · Gross sales of assets other than inventory
securities $17,247,561 · other assets $12,875
-
7b · Less cost or other basis and sales expenses
securities $16,788,240 · other assets $12,875
-
7c · Gain or loss
securities $459,321 · other assets $0
-
7d · Net gain or loss
total $459,321 · excluded $459,321
-
8a · Fundraising events: gross income
$52,984
-
8a · Fundraising events: contributions included on line 1c
$136,101
-
8b · Fundraising events: direct expenses
$98,627
-
8c · Net income from fundraising events
total -$45,643 · excluded -$45,643
-
11a · Other revenue: INVESTMENT SPENDING DESIGNATED FOR CURRENT OPERATIONS
total $13,000,000 · excluded $13,000,000
-
11b · Other revenue: SUMMER AND SPORTS CAMPS
total $61,521 · related or exempt $61,521
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$13,061,521
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $22,045,483 · program services $22,045,483
-
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 $888,350 · program services $0 · management and general $888,350 · fundraising $0
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $22,584,848 · program services $18,792,563 · management and general $3,203,705 · fundraising $588,580
-
8 · Pension plan contributions
total $814,023 · program services $651,704 · management and general $141,908 · fundraising $20,411
-
9 · Other employee benefits
total $3,639,221 · program services $2,913,548 · management and general $634,421 · fundraising $91,252
-
10 · Payroll taxes
total $1,900,903 · program services $1,521,857 · management and general $331,382 · fundraising $47,664
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $96,120 · program services $0 · management and general $96,120 · fundraising $0
-
11c · Fees: accounting
total $142,633 · program services $0 · management and general $142,633 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $163,367 · program services $0 · management and general $163,367 · fundraising $0
-
11g · Fees: other
total $5,936,630 · program services $4,797,013 · management and general $1,004,617 · fundraising $135,000
-
12 · Advertising and promotion
total $584,018 · program services $431,258 · management and general $126,860 · fundraising $25,900
-
13 · Office expenses
total $883,616 · program services $598,386 · management and general $266,726 · fundraising $18,504
-
14 · Information technology
total $1,160,326 · program services $445,271 · management and general $715,055 · fundraising $0
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $2,458,659 · program services $2,289,624 · management and general $169,035 · fundraising $0
-
17 · Travel
total $475,742 · program services $361,437 · management and general $106,379 · fundraising $7,926
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $82,585 · program services $59,287 · management and general $17,677 · fundraising $5,621
-
20 · Interest
total $1,672,558 · program services $1,618,721 · management and general $53,837 · fundraising $0
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $8,009,492 · program services $7,645,694 · management and general $363,798 · fundraising $0
-
23 · Insurance
total $704,684 · program services $417,357 · management and general $287,327 · fundraising $0
-
24a · Other expenses: Elementary School
total $2,460,338 · program services $2,460,338 · management and general $0 · fundraising $0
-
24b · Other expenses: Expenditures from Restricted Funds
total $979,703 · program services $938,407 · management and general $41,296 · fundraising $0
-
24c · Other expenses: Maintenance & Repairs
total $724,349 · program services $672,217 · management and general $52,132 · fundraising $0
-
24d · Other expenses: Equipment Rental Expense
total $633,856 · program services $204,910 · management and general $428,946 · fundraising $0
-
24e · All other expenses
total $1,514,184 · program services $881,572 · management and general $632,612 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $21,886,928 · end of year $19,149,011
-
3 · Pledges and grants receivable
beginning of year $3,742,080 · end of year $11,897,068
-
4 · Accounts receivable
beginning of year $3,967,949 · end of year $4,678,200
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,693,513 · end of year $1,135,347
-
10a · Land, buildings and equipment: cost or other basis
$210,177,568
-
10b · Land, buildings and equipment: accumulated depreciation
$115,187,091
-
10c · Land, buildings and equipment, net
beginning of year $101,075,423 · end of year $94,990,477
-
11 · Investments: publicly traded securities
beginning of year $17,311,496 · end of year $20,152,641
-
12 · Investments: other securities
beginning of year $27,753,220 · end of year $19,788,389
-
13 · Investments: program-related
beginning of year $303,973 · end of year $262,683
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $3,261,337 · end of year $3,000,025
-
17 · Accounts payable and accrued expenses
beginning of year $2,950,663 · end of year $3,313,600
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $432,584 · end of year $325,552
-
20 · Tax-exempt bond liabilities
beginning of year $46,561,839 · end of year $43,858,219
-
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 $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $805,766 · end of year $545,026
-
27 · Net assets without donor restrictions
beginning of year $114,365,175 · end of year $108,601,771
-
28 · Net assets with donor restrictions
beginning of year $16,879,892 · end of year $18,409,673
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
As reflected in its motto "Doce Me Veritatem" (Teach me the Truth), Mount Saint Mary College is an independent, coeducational institution committed to providing students with a liberal arts education to prepare them for lives of leadership and service. Through a variety of majors and professional programs, students are also prepared for career entry or graduate and professional studies. Consistent with Judeo-Christian values and the Dominican tradition of education that values the inherent worth of the individual, the mission of Mount Saint Mary College is to create an environment which fosters close student-faculty interaction that enables students to reach their full potential as lifelong learners. Mount Saint Mary College strives to provide a stimulating environment that promotes the intellectual and personal growth of undergraduate, graduate and continuing education students.
Activities or mission (Part I)
The College is an independent, coeducational institution committed to providing students with a liberal arts education to prepare them for lives of leadership and service. Through a variety of majors and professional programs, students are also prepared for career entry or graduate and professional studies.
-
MOUNT SAINT MARY COLLEGE, A HIGHER EDUCATION INSTITUTION, PROVIDES UNDERGRADUATE AND GRADUATE EDUCATION FOR APPROXIMATELY 2,620 FULL AND PART TIME STUDENTS, REPRESENTING OVER 20 STATES AND 26 COUNTRIES.
Expenses $53,317,408 · Grants $22,045,483 · Revenue $50,769,378
-
ROOM AND BOARD: THE COLLEGE SEEKS TO OFFER OUR STUDENTS INCLUSIVE COMMUNITIES, SOCIAL, AND EDUCATIONAL OPPORTUNITIES, AND SAFE AND WELL-MAINTAINED RESIDENCE FACILITIES. ALL OF OUR RESIDENCE HALLS ARE NEWLY BUILT OR RECENTLY RENOVATED. APPROXIMATELY 394 STUDENTS CALL OUR RESIDENCE HALLS HOME.
Expenses $13,968,901 · Revenue $6,913,490
-
BISHOP DUNN MEMORIAL SCHOOL: ELEMENTARY SCHOOL OPERATIONS, AN ADJUNCT FACILITY ON THE MOUNT SAINT MARY COLLEGE CAMPUS, WHERE THE MOUNT'S EDUCATION STUDENTS ASSIST AND OBSERVE IN TEACHING, AND MAY COMPLETE FIELD WORK. THIS ON-CAMPUS SCHOOL IS A COMBINED ELEMENTARY SCHOOL AND MIDDLE SCHOOL FOR PRE-K THROUGH GRADE 8 STUDENTS. IT OFFERS A VARIETY OF PROGRAMS, INCLUDING ENRICHMENT FOR HONORS STUDENTS, SPECIAL EDUCATION, VIRTUAL FIELD TRIPS AND OTHER CREATIVE USES OF TECHNOLOGY. INDIVIDUALLY GIFTED PROGRAMS, ON BOTH PRIMARY AND MIDDLE LEVELS, ARE CONDUCTED HERE, AS WELL AS CLASSES FOR CHILDREN WITH LEARNING DISABILITIES.
Expenses $2,460,338 · Revenue $1,708,430
-
OTHER SOURCES OF INCOME SUCH AS COMMUNITY EDUCATION, SUMMER CAMPS, AND INDIRECT COST RECOVERY.
Revenue $741,686
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Michael Horodyski
Chair
- Total calculated
- $0
- Hours/week
- 4
-
Philip DeAngelo
Vice Chair
- Total calculated
- $0
- Hours/week
- 10
-
Anne Marie Murray PhD
Board Member
- Total calculated
- $0
- Hours/week
- 4
-
Anthony Liotti
Board Member (through January 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Beth Jennings
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Christina Bart Bilsky
Board Member
- Total calculated
- $0
- Hours/week
- 6
-
Christofer Guarino
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Claude D'Alessandro
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jake Kosack
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jeremy Smith
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jonathan H Gatsik
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Liam O'Brien Esq
Board Member (through September 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Ludwig H Bach
Board Memeber (as of March 2024)
- Total calculated
- $0
- Hours/week
- 6
-
Michael Catania Esq
Board Member (through May 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Sister Constance Kelly OP '95
Board Member
- Total calculated
- $0
- Hours/week
- 1.5
-
Sister Constance Koch OP '71
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Sister Maureen Sullivan
Board Member (through March 2024)
- Total calculated
- $0
- Hours/week
- 2
-
Sister Patricia Magee OP 88
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Sr Catherine McDonnell OP
Board Member
- Total calculated
- $0
- Hours/week
- 5
-
Stephen McCarthy
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Valerie Bryant
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
William Fioravanti
Board Member
- Total calculated
- $0
- Hours/week
- 3
-
Arthur D Glass MBA CPA
Vice President for Finance & Administration
- Total calculated
- $270,916
- From this org
- $257,198
- From related orgs
- $0
- Other
- $13,718
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $252,626
- Bonus
- $0
- Other
- $4,572
- Deferred
- $12,631
- Nontaxable benefits
- $1,087
- Filer's total
- $270,916
-
Dr Jason N Adsit PhD
President until August 2023
- Total calculated
- $403,284
- From this org
- $326,221
- From related orgs
- $0
- Other
- $77,063
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $234,708
- Bonus
- $0
- Other
- $91,513
- Deferred
- $15,005
- Nontaxable benefits
- $62,058
- Filer's total
- $403,284
-
Evan Merkhofer
Interim Vice President for Academic Affairs
- Total calculated
- $130,105
- From this org
- $99,654
- From related orgs
- $0
- Other
- $30,451
- Hours/week
- 35
-
Fr Gregoire Fluet
Interim President
- Total calculated
- $100,770
- From this org
- $86,703
- From related orgs
- $0
- Other
- $14,067
- Hours/week
- 35
-
George Abaunza PhD
Vice President for Academic Affairs until July 2023
- Total calculated
- $205,107
- From this org
- $181,123
- From related orgs
- $0
- Other
- $23,984
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $100,770
- Bonus
- $0
- Other
- $80,353
- Deferred
- $5,433
- Nontaxable benefits
- $18,551
- Filer's total
- $205,107
-
Elaine A O'Grady MBA
Vice President for Students
- Total calculated
- $180,288
- From this org
- $170,860
- From related orgs
- $0
- Other
- $9,428
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $169,364
- Bonus
- $0
- Other
- $1,496
- Deferred
- $8,500
- Nontaxable benefits
- $928
- Filer's total
- $180,288
-
Moira T Tolan
Faculty
- Total calculated
- $145,507
- From this org
- $132,283
- From related orgs
- $0
- Other
- $13,224
- Hours/week
- 35
-
Nidhi Khurana-Baugh
Vice President Advancement
- Total calculated
- $191,014
- From this org
- $157,673
- From related orgs
- $0
- Other
- $33,341
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $157,165
- Bonus
- $0
- Other
- $508
- Deferred
- $8,292
- Nontaxable benefits
- $25,049
- Filer's total
- $191,014
-
Paul D Schwartz
Faculty
- Total calculated
- $140,727
- From this org
- $133,480
- From related orgs
- $0
- Other
- $7,247
- Hours/week
- 35
-
Tiffany Gagliano
Chief of Staff until April 2024
- Total calculated
- $196,174
- From this org
- $186,817
- From related orgs
- $0
- Other
- $9,357
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $186,028
- Bonus
- $0
- Other
- $789
- Deferred
- $8,265
- Nontaxable benefits
- $1,092
- Filer's total
- $196,174
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
- 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 survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
Answered no
- 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 allowance or residence for personal use
- College provides housing for the President as part of his employment contract. Pursuant to IRC Sec. 119, Housing provided to the President is nontaxable.
- Schedule J, Part I, Line 1a Health or social club dues or initiation fees
- The College provides the President with a club membership as part of his employment contract. The club membership is used solely for business purposes and as such is nontaxable.
- Schedule J, Part I, Line 4a Severance or change-of-control payment
- Jason Adsit - $90,961 George Abaunza - $79,450
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
- 2023
- Filed
- 13 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501339349304240
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