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Nonprofiteer
← PRESIDENT & FELLOWS OF MIDDLEBURY COLLEGE

Form 990 for tax year 2022

Filed by PRESIDENT & FELLOWS OF MIDDLEBURY COLLEGE.

Totals

Total revenue
$456,039,665
Total expenses
$400,959,311
Contributions and grants received
$79,476,129
Grants paid
$91,859,871
Program service revenue
$281,301,087
Investment income
$95,069,573
Other revenue
$192,876
Total assets, end of year
$2,015,811,537
Total liabilities, end of year
$453,450,257
Net assets or fund balances, end of year
$1,562,361,280
Program services expenses (Part IX)
$341,201,504
Management and general expenses
$55,200,587
Fundraising expenses
$4,557,220
Program service expenses (Part III)
$341,201,504

Program services were 85.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Laurie L Patton

    President

    Total calculated
    $754,158
    From this org
    $646,936
    From related orgs
    $0
    Other
    $107,222
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $586,718
    Bonus
    $4,362
    Other
    $55,856
    Deferred
    $64,050
    Nontaxable benefits
    $43,172
    Filer's total
    $754,158

  • George C Lee II

    Chair - Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Karen A Stolley

    Vice Chair-Charter Trust

    Total calculated
    $0
    Hours/week
    1

  • William F Truscott

    Vice Chair-Charter Trust

    Total calculated
    $0
    Hours/week
    1

  • Belinda Badcock

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Zachary A Bourque

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joseph W Brown

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Leilani M Brown

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kirtley Horton Cameron

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Barbara G Cole

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Allan Dragone Jr

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Denver Edwards

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • Janine F Feng

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Graham C Goldsmith

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Parker Harris III

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lucienne M Ide

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carol L Jones

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Catherine Lee

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Caroline Sneath McBride

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Koby Altman

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • Alice J Murphy

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dennis D Parker

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ann D Peterson

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Reider

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Helen Riess

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Richard T Scanlon

    Charter Trustee

    Total calculated
    $0
    Hours/week
    1

  • Henry J Simonds

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth C Speers

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mark Spence

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Danielle S Virtue

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • John S Weinberg

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Larry Yarbrough

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kashif Zafar

    Term Trustee

    Total calculated
    $0
    Hours/week
    1

  • Shawn P Ryan

    Alumni Trustee

    Total calculated
    $0
    Hours/week
    1

  • David Provost

    EVP Finance & Admin.

    Total calculated
    $521,419
    From this org
    $419,521
    From related orgs
    $0
    Other
    $101,898
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $402,404
    Bonus
    $14,286
    Other
    $2,831
    Deferred
    $64,050
    Nontaxable benefits
    $37,848
    Filer's total
    $521,419

  • Hannah Ross

    Sec. & General Counsel

    Total calculated
    $404,527
    From this org
    $299,907
    From related orgs
    $0
    Other
    $104,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,504
    Bonus
    $14,286
    Other
    $1,117
    Deferred
    $64,003
    Nontaxable benefits
    $40,617
    Filer's total
    $404,527

  • Michael Thomas

    VP of Administration until 3/23

    Total calculated
    $316,077
    From this org
    $257,903
    From related orgs
    $0
    Other
    $58,174
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,688
    Bonus
    $14,286
    Other
    $929
    Deferred
    $54,159
    Nontaxable benefits
    $4,015
    Filer's total
    $316,077

  • Alberto Citarella

    AVP Finance & Asst. Treas.

    Total calculated
    $243,145
    From this org
    $200,959
    From related orgs
    $0
    Other
    $42,186
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,216
    Bonus
    $0
    Other
    $743
    Deferred
    $36,372
    Nontaxable benefits
    $5,814
    Filer's total
    $243,145

  • Susan Parsons Ritter

    Assistant Secretary

    Total calculated
    $245,457
    From this org
    $184,664
    From related orgs
    $0
    Other
    $60,793
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,522
    Bonus
    $14,286
    Other
    $1,856
    Deferred
    $39,713
    Nontaxable benefits
    $21,080
    Filer's total
    $245,457

  • Charlene M Barrett

    Assistant Secretary

    Total calculated
    $105,326
    From this org
    $78,396
    From related orgs
    $0
    Other
    $26,930
    Hours/week
    40

  • Jeffrey Cason

    Provost and EVP until 7/22

    Total calculated
    $293,074
    From this org
    $208,607
    From related orgs
    $0
    Other
    $84,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,490
    Bonus
    $14,286
    Other
    $1,831
    Deferred
    $55,831
    Nontaxable benefits
    $28,636
    Filer's total
    $293,074

  • Smita Ruzicka

    VP Student Affairs

    Total calculated
    $322,464
    From this org
    $254,259
    From related orgs
    $0
    Other
    $68,205
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,390
    Bonus
    $14,286
    Other
    $583
    Deferred
    $42,568
    Nontaxable benefits
    $25,637
    Filer's total
    $322,464

  • Michelle McCauley

    Interim Provost

    Total calculated
    $242,855
    From this org
    $184,449
    From related orgs
    $0
    Other
    $58,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,469
    Bonus
    $0
    Other
    $1,980
    Deferred
    $43,766
    Nontaxable benefits
    $14,640
    Filer's total
    $242,855

  • William C Potter

    Director of CNS

    Total calculated
    $409,455
    From this org
    $307,557
    From related orgs
    $0
    Other
    $101,898
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $304,726
    Bonus
    $0
    Other
    $2,831
    Deferred
    $64,050
    Nontaxable benefits
    $37,848
    Filer's total
    $409,455

  • Mark Peluso

    Chief Health Officer and Physician

    Total calculated
    $356,000
    From this org
    $256,635
    From related orgs
    $0
    Other
    $99,365
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,091
    Bonus
    $50,000
    Other
    $1,544
    Deferred
    $49,590
    Nontaxable benefits
    $49,775
    Filer's total
    $356,000

  • Jeff Dayton-Johnson

    VP MIIS Academic Affairs & Dean

    Total calculated
    $320,024
    From this org
    $236,208
    From related orgs
    $0
    Other
    $83,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,228
    Bonus
    $14,286
    Other
    $1,694
    Deferred
    $47,264
    Nontaxable benefits
    $36,552
    Filer's total
    $320,024

  • Philip Geier

    Exec, Dir. Davis UWC

    Total calculated
    $355,573
    From this org
    $268,144
    From related orgs
    $0
    Other
    $87,429
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,668
    Bonus
    $0
    Other
    $9,476
    Deferred
    $60,544
    Nontaxable benefits
    $26,885
    Filer's total
    $355,573

  • Vijay Menta

    VP for IT and CTO

    Total calculated
    $329,822
    From this org
    $268,180
    From related orgs
    $0
    Other
    $61,642
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,020
    Bonus
    $14,286
    Other
    $1,874
    Deferred
    $46,819
    Nontaxable benefits
    $14,823
    Filer's total
    $329,822

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

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

The filer's explanations (Part III)

Part I, Line 1a
As a condition of employment Middlebury provides the President, an officer, with a residence for the convenience of the employer. Part I, Line 7: The President's compensation is set by the Compensation Committee of the Board of Trustees. Any increases shall be within the Board's sole discretion and shall be based upon the President's performance, which will be reviewed yearly, prior to June 30 by the Chair of the Board, who will make a recommendation to the Compensation Committee for compensation. Part I, Line 8: The President's employment contract includes provisions governing the following: term of the contract, renewal/extension, duties, compensation, benefits/reimbursements, evaluation process of the president, termination, office and residence expenses, and sabbatical leave.
Part I, Line 4b
The Provost participates in a supplemental nonqualified retirement plan which is contingent upon services. Deferred compensation includes pretax contributions to the voluntary retirement plan, contributions to Middlebury's non-qualified tax advantaged deferred-compensation retirement plan (457 plan), and Middlebury contributions to the core retirement plan on the behalf of the employee.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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 trust (6) see Part VII note for Col CFG

    T · Investment Support · VT · controlled entity

  • Charitable lead trust (2) see Part VII note for Col CFG

    T · Investment Support · VT · controlled entity

  • Pooled income fund (1)

    T · Investment Support · VT · controlled entity

  • Life income fund (1)

    T · Investment Support · VT · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411359349308291

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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