Skip to content
Nonprofiteer
← HILLSDALE COLLEGE

Form 990 for tax year 2023

Filed by HILLSDALE COLLEGE.

Totals

Total revenue
$394,153,037
Total expenses
$270,721,431
Contributions and grants received
$268,471,774
Grants paid
$38,573,011
Program service revenue
$77,413,719
Investment income
$40,261,198
Other revenue
$8,006,346
Total assets, end of year
$2,045,865,706
Total liabilities, end of year
$303,311,368
Net assets or fund balances, end of year
$1,742,554,338
Program services expenses (Part IX)
$160,914,768
Management and general expenses
$29,375,462
Fundraising expenses
$80,431,201
Program service expenses (Part III)
$160,914,768

Program services were 59.4% 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.

  • 1d · Related organizations

    $1,200,000

  • 1f · All other contributions, gifts and grants

    $267,271,774

  • 1g · Noncash contributions included above

    $70,397,997

  • 2a · Program service revenue: TUITION AND FEES

    total $60,585,491 · related or exempt $60,585,491

  • 2b · Program service revenue: AUXILIARY

    total $15,317,729 · related or exempt $15,226,348 · unrelated business $91,381

  • 2c · Program service revenue: CONFERENCE CENTER

    total $1,510,499 · related or exempt $47,806 · unrelated business $1,462,693

  • 3 · Investment income

    total $11,712,879 · unrelated business $2,941,244 · excluded $8,771,635

  • 7a · Gross sales of assets other than inventory

    securities $28,548,319

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

    securities $0

  • 7c · Gain or loss

    securities $28,548,319

  • 7d · Net gain or loss

    total $28,548,319 · excluded $28,548,319

  • 9a · Gaming: gross income

    $195,561

  • 9b · Gaming: direct expenses

    $84,672

  • 9c · Net income from gaming

    total $110,889 · excluded $110,889

  • 10a · Gross sales of inventory

    $1,921,969

  • 10b · Cost of goods sold

    $5,810,833

  • 10c · Net income from sales of inventory

    total -$3,888,864 · unrelated business $218,311 · excluded -$4,107,175

  • 11a · Other revenue: SCP REBATE

    total $5,585,474 · excluded $5,585,474

  • 11b · Other revenue: HILLSDALE HOSTEL

    total $474,067 · related or exempt $474,067

  • 11c · Other revenue: FOOD SERVICE CATERING

    total $357,922 · unrelated business $357,922

  • 11d · All other revenue

    total $5,366,858 · related or exempt $4,880,776 · unrelated business $486,082

  • 11e · Other revenue, total

    $11,784,321

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,309,428 · program services $1,309,428

  • 2 · Grants to domestic individuals

    total $36,369,058 · program services $36,369,058

  • 3 · Grants to foreign organizations and individuals

    total $894,525 · program services $894,525

  • 5 · Compensation of officers, directors and key employees

    total $3,124,375 · program services $551,221 · management and general $1,593,516 · fundraising $979,638

  • 7 · Other salaries and wages

    total $64,771,291 · program services $45,130,316 · management and general $9,381,094 · fundraising $10,259,881

  • 8 · Pension plan contributions

    total $5,130,458 · program services $3,456,245 · management and general $927,690 · fundraising $746,523

  • 9 · Other employee benefits

    total $8,427,688 · program services $6,477,722 · management and general $1,043,545 · fundraising $906,421

  • 10 · Payroll taxes

    total $4,417,708 · program services $2,968,777 · management and general $852,798 · fundraising $596,133

  • 11b · Fees: legal

    total $2,557,750 · program services $437,256 · management and general $1,985,916 · fundraising $134,578

  • 11f · Fees: investment management

    total $57,147 · management and general $57,147

  • 11g · Fees: other

    total $41,012,768 · program services $5,205,591 · management and general $1,441,857 · fundraising $34,365,320

  • 12 · Advertising and promotion

    total $18,038,006 · program services $6,286,894 · management and general $187,071 · fundraising $11,564,041

  • 13 · Office expenses

    total $33,697,594 · program services $22,220,590 · management and general $1,301,584 · fundraising $10,175,420

  • 14 · Information technology

    total $8,050,166 · program services $1,182,239 · management and general $6,203,461 · fundraising $664,466

  • 15 · Royalties

    total $2,925 · management and general $2,925

  • 16 · Occupancy

    total $5,596,746 · program services $4,759,018 · management and general $837,728

  • 17 · Travel

    total $10,952,060 · program services $6,730,252 · management and general $868,052 · fundraising $3,353,756

  • 19 · Conferences, conventions and meetings

    total $10,536,658 · program services $4,391,518 · management and general $201,691 · fundraising $5,943,449

  • 20 · Interest

    total $512,387 · program services $512,387

  • 22 · Depreciation, depletion and amortization

    total $9,161,238 · program services $7,935,274 · management and general $1,062,711 · fundraising $163,253

  • 24a · Other expenses: EQUIPMENT

    total $844,938 · program services $844,938

  • 24b · Other expenses: GRAD SCHOOL STIPENDS

    total $633,100 · program services $633,100

  • 24c · Other expenses: UBI TAX PAYMENTS

    total $370,000 · management and general $370,000

  • 24d · Other expenses: MEMBERSHIPS

    total $271,493 · program services $187,710 · management and general $22,747 · fundraising $61,036

  • 24e · All other expenses

    total $3,981,924 · program services $2,430,709 · management and general $1,033,929 · fundraising $517,286

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,001,271 · end of year $2,505,940

  • 2 · Savings and temporary cash investments

    beginning of year $121,146,440 · end of year $95,017,741

  • 3 · Pledges and grants receivable

    beginning of year $148,279,926 · end of year $138,353,793

  • 4 · Accounts receivable

    beginning of year $4,389,134 · end of year $7,399,881

  • 7 · Other notes and loans receivable

    beginning of year $31,052,035 · end of year $36,142,650

  • 8 · Inventories for sale or use

    beginning of year $1,092,290 · end of year $1,441,951

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,158,901 · end of year $4,682,242

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

    $405,282,890

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

    $135,361,993

  • 10c · Land, buildings and equipment, net

    beginning of year $234,233,151 · end of year $269,920,897

  • 11 · Investments: publicly traded securities

    beginning of year $390,791,089 · end of year $402,196,646

  • 12 · Investments: other securities

    beginning of year $915,798,986 · end of year $1,068,110,864

  • 15 · Other assets

    beginning of year $16,682,520 · end of year $20,093,101

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,028,077 · end of year $37,971,919

  • 19 · Deferred revenue

    beginning of year $1,993,848 · end of year $2,247,889

  • 20 · Tax-exempt bond liabilities

    beginning of year $5,654,120 · end of year $4,957,466

  • 23 · Secured mortgages and notes payable

    beginning of year $185,886,261 · end of year $193,895,004

  • 25 · Other liabilities

    beginning of year $56,569,568 · end of year $64,239,090

  • 27 · Net assets without donor restrictions

    beginning of year $241,977,900 · end of year $314,948,294

  • 28 · Net assets with donor restrictions

    beginning of year $1,346,515,969 · end of year $1,427,606,044

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

HILLSDALE COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE WITH APPROXIMATELY 1,500 STUDENTS. FOUNDED IN 1844, THE COLLEGE REMAINS, IN THE WORDS OF ITS ARTICLES OF ASSOCIATION, "GRATEFUL TO GOD FOR THE INESTIMABLE BLESSINGS RESULTING FROM THE PREVALENCE OF CIVIL AND RELIGIOUS LIBERTY AND INTELLIGENT PIETY" IN OUR NATION, AND DEDICATED TO "THE DIFFUSION OF SOUND LEARNING" THAT IS "ESSENTIAL TO THE PERPETUITY OF THESE BLESSINGS."

  • STUDENT INSTRUCTION HILLSDALE COLLEGE MAINTAINS ITS DEFENSE OF THE CLASSICAL LIBERAL ARTS CURRICULUM, CONVINCED THAT IT IS THE BEST PREPARATION FOR MEETING THE CHALLENGES OF MODERN LIFE AND THAT IT OFFERS TO ALL PEOPLE OF ALL BACKGROUNDS NOT ONLY AN IMPORTANT BODY OF KNOWLEDGE, BUT ALSO TIMELESS TRUTHS ABOUT THE HUMAN CONDITION. THE LIBERAL ARTS ARE DEDICATED TO STIMULATING STUDENTS' INTELLECTUAL CURIOSITY, TO ENCOURAGING THE CRITICAL, WELL-DISCIPLINED MIND, AND TO FOSTERING PERSONAL GROWTH THROUGH ACADEMIC CHALLENGE. AS SUCH, THE COLLEGE MAINTAINS A RIGOROUS CORE CURRICULUM OF 50 ACADEMIC CREDITS, INCLUDING REQUIRED COURSES IN WESTERN AND AMERICAN HISTORY, THE GREAT BOOKS, THE U.S. CONSTITUTION, LOGIC AND RHETORIC, PHILOSOPHY, THEOLOGY, MATHEMATICS, THE ARTS AND SCIENCES, AND MORE. IN ADDITION TO THE CORE CURRICULUM, STUDENTS CHOOSE FROM 30 MAJORS AND SEVEN INTERDISCIPLINARY MAJORS. SEVEN MINORS-ONLY PROGRAMS AND NINE PRE-PROFESSIONAL PROGRAMS ARE ALSO OFFERED. THE FOUR-YEAR UNDERGRADUATE COURSE OF STUDY CULMINATES IN A BACHELOR OF ARTS OR BACHELOR OF SCIENCE DEGREE. HILLSDALE COLLEGE IS CONSISTENTLY RANKED HIGH ON LISTS OF THE BEST LIBERAL ARTS COLLEGES IN THE NATION BY SUCH PUBLICATIONS AS U.S. NEWS & WORLD REPORT, THE PRINCETON REVIEW, FORBES, AND KIPLINGER'S PERSONAL FINANCE. IN ADDITION TO ITS UNDERGRADUATE PROGRAM OF INSTRUCTION, THE COLLEGE OPERATES THE VAN ANDEL GRADUATE SCHOOL OF STATESMANSHIP ON CAMPUS, OFFERING MASTER'S AND DOCTORAL DEGREES IN POLITICS; THE STEVE & AMY VAN ANDEL GRADUATE SCHOOL OF GOVERNMENT IN WASHINGTON, D.C., OFFERING A MASTER OF ARTS DEGREE IN GOVERNMENT; AND THE DIANA DAVIS SPENCER GRADUATE SCHOOL OF CLASSICAL EDUCATION OFFERING A MASTERS OF ARTS DEGREE IN CLASSICAL EDUCATION. THE COLLEGE IS COMMITTED TO THE EXCELLENCE OF ITS STUDENTS IN BOTH INTELLECT AND CHARACTER. THIS COMMITMENT IS REFLECTED IN THE STUDENT HONOR CODE, WHICH READS, "A HILLSDALE COLLEGE STUDENT IS HONORABLE IN CONDUCT, HONEST IN WORD AND DEED, DUTIFUL IN STUDY AND SERVICE, AND RESPECTFUL OF THE RIGHTS OF OTHERS. THROUGH EDUCATION THE STUDENT RISES TO SELF-GOVERNMENT." HILLSDALE BOASTS A STUDENT-FACULTY RATIO OF 8 TO 1. IT HAS 168 FULL-TIME FACULTY, 90 PERCENT OF WHOM HOLD THE HIGHEST DEGREE IN THEIR DISCIPLINES.

    Expenses $77,293,345 · Revenue $60,585,491

  • STUDENT SCHOLARSHIPS AND GRANTS HILLSDALE COLLEGE HAS BEEN COMMITTED TO INDEPENDENCE SINCE ITS FOUNDING IN 1844. WHEN A 1984 U.S. SUPREME COURT RULING THREATENED HILLSDALE WITH THE ENTIRE RANGE OF FEDERAL REGULATIONS BECAUSE SOME OF ITS STUDENTS RECEIVED FEDERAL FINANCIAL AID, THE COLLEGE RESOLVED THAT NOT A SINGLE HILLSDALE STUDENT WOULD ACCEPT EVEN ONE CENT OF FEDERAL GRANTS, LOANS, OR SCHOLARSHIPS. INSTEAD, HILLSDALE ESTABLISHED THE PRIVATELY FUNDED STUDENT INDEPENDENCE SCHOLARSHIP AND LOAN FUND IN PLACE OF TAXPAYER-FUNDED AID FOR DESERVING STUDENTS WHO SEEK THE KIND OF CLASSICAL LIBERAL ARTS EDUCATION OFFERED AT HILLSDALE. SINCE THE STUDENT INDEPENDENCE SCHOLARSHIP AND LOAN FUND WAS ESTABLISHED IN 1985, HILLSDALE HAS REPLACED FEDERAL AND STATE GRANTS AND LOANS WITH OVER $149 MILLION IN PRIVATE AWARDS. THE COST OF REPLACING GOVERNMENT AID WAS OVER $7.1 MILLION IN THE 2023-2024 ACADEMIC YEAR; THIS TOTAL ASSISTED 493 STUDENTS. IN ADDITION, THE COLLEGE AWARDED APPROXIMATELY $31.8 MILLION IN PRIVATE SCHOLARSHIPS THAT YEAR ON THE BASIS OF FINANCIAL NEED, ACADEMIC MERIT, CAMPUS LEADERSHIP, ATHLETIC AND MUSIC PARTICIPATION, AND OTHER QUALIFICATIONS. APPROXIMATELY 99 PERCENT OF HILLSDALE STUDENTS QUALIFY FOR AND RECEIVE SOME FORM OF INSTITUTIONAL AID.

    Expenses $37,263,583 · Grants $37,263,583

  • STUDENT SERVICES HILLSDALE'S STUDENT SERVICES INCLUDE THE ADMISSIONS OFFICE, CAREER SERVICES, ACADEMIC SERVICES, STUDENT AFFAIRS, AND HEALTH AND WELLNESS SERVICES. THE ADMISSIONS OFFICE RECEIVES AN INCREASING NUMBER AND HIGHER CALIBER OF APPLICATIONS EACH YEAR, LEADING TO A SELECTIVE ACCEPTANCE RATE OF 20 PERCENT FOR THE MOST RECENT ACADEMIC YEAR. THE OFFICE EMPHASIZES A HOLISTIC APPROACH TO APPLICATION REVIEWS AND CONDUCTS PERSONAL INTERVIEWS WITH ALMOST ALL APPLICANTS. THE CAREER SERVICES OFFICE HELPS STUDENTS DEVELOP THEIR STRENGTHS AND INTRODUCES THEM TO OPPORTUNITIES THROUGH MENTORING, NETWORK-BUILDING, JOB FAIRS, AND OTHER PROGRAMS. THE COLLEGE HAS A 98 PERCENT FIVE-YEAR GRADUATE PLACEMENT AVERAGE. A SURVEY OF THE 2023 GRADUATING CLASS SHOWED THAT 73 PERCENT WERE EMPLOYED, 25 PERCENT IN CONTINUING EDUCATION AND GRADUATE PROGRAMS, AND 2 PERCENT IN MILITARY AND VOLUNTEER SERVICE. HILLSDALE'S STUDENT AFFAIRS DEPARTMENT OVERSEES A NUMBER OF STUDENT INTEREST GROUPS, ACADEMIC HONORARIES, VOLUNTEER ORGANIZATIONS, AND THE COLLEGE'S FOUR FRATERNITIES AND THREE SORORITIES. HEALTH AND WELLNESS SERVICES PROVIDES MEDICAL AND MENTAL HEALTH SERVICES TO STUDENTS, FACULTY, AND STAFF.

    Expenses $17,522,946

  • THESE ADDITIONAL PROGRAM SERVICE EXPENSES INCLUDE, BUT ARE NOT LIMITED TO, AUXILIARY SERVICES (BOOKSTORE, RESIDENTIAL, DINING) AND PLAN AND MAINTENANCE OF CAMPUS GROUNDS AND BUILDINGS.

    Expenses $28,834,894 · Grants $1,309,428 · Revenue $20,628,997

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

Listed in Part VII

  • Larry P Arnn

    PRESIDENT

    Total calculated
    $1,291,057
    From this org
    $1,157,118
    From related orgs
    $0
    Other
    $133,939
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $599,658
    Bonus
    $554,437
    Other
    $3,023
    Deferred
    $26,464
    Nontaxable benefits
    $107,475
    Filer's total
    $1,291,057
  • Patrick L Sajak

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    4.5
  • Stephen A Van Andel

    VICE CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    4.5
  • William J Brodbeck

    TRUSTEE, CHAIRMAN EMERITUS

    Total calculated
    $0
    Hours/week
    1
  • Alice H Hanley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Bruce C Sanborn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Brian S Wesbury

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Charles S McIntyre III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Chris Chocola

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Christopher F Bachelder

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Cleves R Delp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Daniel S Peters

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • David A Durell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • David R Hough

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Donna R Ecton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Gregory C Schuler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • James J Meeks

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jeffrey H Coors

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jessica A Faubert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Kurt D Grindstaff

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Mark L Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Nena C Moss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Nersi H Nazari

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • R Mark Hamlin Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Richard E Hunter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Ronald C Nolan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Ronald D Robson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • S Gunnar Klarr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Thomas N Jordan Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Thomas C Shafer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Tobias W Buck

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Wayne R Nelson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • William A Nolan III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • William L Fraim

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Richard P Pewe

    VP OF ADMIN. AFFAIRS & SECRETARY

    Total calculated
    $379,573
    From this org
    $290,110
    From related orgs
    $0
    Other
    $89,463
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $287,441
    Bonus
    $2,000
    Other
    $669
    Deferred
    $26,637
    Nontaxable benefits
    $62,826
    Filer's total
    $379,573
  • Patrick H Flannery

    VP FOR FINANCE & TREASURER

    Total calculated
    $316,453
    From this org
    $239,283
    From related orgs
    $0
    Other
    $77,170
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $236,614
    Bonus
    $2,000
    Other
    $669
    Deferred
    $20,758
    Nontaxable benefits
    $56,412
    Filer's total
    $316,453
  • John Cervini

    VP FOR INST. ADVANCEMENT

    Total calculated
    $612,650
    From this org
    $492,021
    From related orgs
    $0
    Other
    $120,629
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $462,815
    Bonus
    $28,000
    Other
    $1,206
    Deferred
    $52,500
    Nontaxable benefits
    $68,129
    Filer's total
    $612,650
  • Christopher Van Orman

    PROVOST

    Total calculated
    $398,323
    From this org
    $319,797
    From related orgs
    $0
    Other
    $78,526
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $313,726
    Bonus
    $2,000
    Other
    $4,071
    Deferred
    $30,000
    Nontaxable benefits
    $48,526
    Filer's total
    $398,323
  • Robert Norton

    VP & GENERAL COUNSEL

    Total calculated
    $437,509
    From this org
    $345,081
    From related orgs
    $0
    Other
    $92,428
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $308,327
    Bonus
    $26,000
    Other
    $10,754
    Deferred
    $30,000
    Nontaxable benefits
    $62,428
    Filer's total
    $437,509
  • Bill Gray

    VP OF MARKETING

    Total calculated
    $353,865
    From this org
    $280,965
    From related orgs
    $0
    Other
    $72,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,754
    Bonus
    $52,836
    Other
    $375
    Deferred
    $16,901
    Nontaxable benefits
    $55,999
    Filer's total
    $353,865
  • Matthew Spalding

    VP FOR DC OPS & DEAN OF VASOG

    Total calculated
    $430,015
    From this org
    $336,644
    From related orgs
    $0
    Other
    $93,371
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $332,373
    Bonus
    $2,000
    Other
    $2,271
    Deferred
    $26,295
    Nontaxable benefits
    $67,076
    Filer's total
    $430,015
  • Doug Banbury

    VP FOR ADMISSIONS & BUS DEVELOPMENT

    Total calculated
    $356,935
    From this org
    $266,952
    From related orgs
    $0
    Other
    $89,983
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,181
    Bonus
    $2,000
    Other
    $771
    Deferred
    $30,000
    Nontaxable benefits
    $59,983
    Filer's total
    $356,935
  • Matt Schlientz

    ASSOCIATE VP OF PROGRAMS

    Total calculated
    $359,388
    From this org
    $281,284
    From related orgs
    $0
    Other
    $78,104
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,448
    Bonus
    $22,000
    Other
    $836
    Deferred
    $17,080
    Nontaxable benefits
    $61,024
    Filer's total
    $359,388
  • David Whalen

    ASSOCIATE VP FOR CURRICULUM

    Total calculated
    $332,784
    From this org
    $261,505
    From related orgs
    $0
    Other
    $71,279
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,758
    Bonus
    $2,000
    Other
    $9,747
    Deferred
    $12,951
    Nontaxable benefits
    $58,328
    Filer's total
    $332,784
  • Judy Duke

    CONSULTANT FOR MAJOR GIFTS

    Total calculated
    $344,860
    From this org
    $277,077
    From related orgs
    $0
    Other
    $67,783
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,960
    Bonus
    $44,212
    Other
    $9,905
    Deferred
    $22,277
    Nontaxable benefits
    $45,506
    Filer's total
    $344,860

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 · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1a · Payments for business use of a personal residence
  • 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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
BY THE NATURE OF THE POSITION, THE CEO IS REQUIRED TO FULFILL SEVERAL OBLIGATIONS/COMMITMENTS WHICH MAY RESULT IN TRAVELING FIRST-CLASS AND/OR CHARTER TO ACCOMMODATE REQUIRED APPOINTMENTS. FURTHER, HIS SPOUSE MAY ACCOMPANY HIM AS DICTATED BY HER REQUIRED PRESENCE FOR AN EVENT. THE CEO HAS AVAILABLE TO HIM A DISCRETIONARY FUND (BUDGETED EACH YEAR) FOR ASSISTING INDIVIDUALS AND/OR PROJECTS IN NEED OF SUPPORT. FURTHER, THE CEO IS REQUIRED TO RESIDE IN COLLEGE-OWNED HOUSING FOR THE PURPOSE OF BEING A PRESENCE ON CAMPUS AND FOR ENTERTAINMENT PURPOSES. AS THE RESULT OF LIVING IN A COLLEGE-OWNED RESIDENCE, THE COLLEGE PROVIDES, AS WITH ALL CAMPUS BUILDINGS, LIGHT HOUSEKEEPING. THE POSITION OF CEO ALSO REQUIRES MEMBERSHIP IN CERTAIN SOCIAL/ACADEMIC ORGANIZATIONS AND THEREFORE THE COLLEGE PROVIDES THE DUES/FEES ASSOCIATED WITH THAT MEMBERSHIP. FROM TIME TO TIME THE COLLEGE UTILIZES THE COLLEGE PRESIDENT'S PERSONAL RESIDENCE FOR COLLEGE EVENTS AND HOUSING OF COLLEGE GUESTS.
PART I, LINE 3
THE PRUDENTIAL COMMITTEE (EXECUTIVE COMMITTEE) OF THE BOARD OF TRUSTEES APPROVES THE CEO'S ANNUAL SALARY. THE TREASURER'S OFFICE SECURES SALARY INFORMATION SUPPLIED BY THE CHRONICLE OF HIGHER EDUCATION, IRS FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION CONSULTANTS, AND WRITTEN CONTRACT. THIS INFORMATION IS THEN PROVIDED TO THE PRUDENTIAL COMMITTEE FOR THEIR REVIEW AND EVALUATION.
PART I, LINE 4B
JOHN CERVINI CONTRIBUTED AMOUNT OF $22,500 IN 2023.
PART I, LINE 5
DEPENDING ON THE LEVELS OF GIFT REVENUE, BONUSES WERE PAID.
PART I, LINE 7
THE PRESIDENT'S BONUS IS DETERMINED BASED ON THE BOARD OF DIRECTOR'S DISCRETION.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SAGINAW RIVER HOLDINGS

    REAL ESTATE HOLDING · MI · income $0 · assets $13

    Directly controlled by HILLSDALE COLLEGE

  • 842 2ND AVENUE LLC

    REAL ESTATE INVESTMENT · NY · income $0 · assets $1,962,485

    Directly controlled by HILLSDALE COLLEGE

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501299349302420

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

The source document this was parsed from is served over the API, which is where bulk and document access live.