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← WILLIAMSON COLLEGE OF THE TRADES

Form 990 for tax year 2022

Filed by WILLIAMSON COLLEGE OF THE TRADES.

Totals

Total revenue
$39,431,523
Total expenses
$13,794,235
Contributions and grants received
$31,799,722
Grants paid
$0
Program service revenue
$0
Investment income
$7,444,826
Other revenue
$186,975
Total assets, end of year
$241,019,068
Total liabilities, end of year
$2,838,610
Net assets or fund balances, end of year
$238,180,458
Program services expenses (Part IX)
$8,701,877
Management and general expenses
$3,459,399
Fundraising expenses
$1,632,959
Program service expenses (Part III)
$8,701,877

Program services were 63.1% 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)

    $1,857,075

  • 1f · All other contributions, gifts and grants

    $29,942,647

  • 1g · Noncash contributions included above

    $254,903

  • 3 · Investment income

    total $2,721,351 · unrelated business $79 · excluded $2,721,272

  • 6a · Gross rents

    real property $8,200

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $8,200

  • 6d · Net rental income or loss

    total $8,200 · excluded $8,200

  • 7a · Gross sales of assets other than inventory

    securities $72,196,551 · other assets $2,473

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

    securities $67,475,549 · other assets $0

  • 7c · Gain or loss

    securities $4,721,002 · other assets $2,473

  • 7d · Net gain or loss

    total $4,723,475 · excluded $4,723,475

  • 10a · Gross sales of inventory

    $74,471

  • 10b · Cost of goods sold

    $81,363

  • 10c · Net income from sales of inventory

    total -$6,892 · excluded -$6,892

  • 11a · Other revenue: OTHER INCOME

    total $185,667 · excluded $185,667

  • 11e · Other revenue, total

    $185,667

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $238,257 · program services $59,564 · management and general $59,564 · fundraising $119,129

  • 7 · Other salaries and wages

    total $4,990,884 · program services $3,236,215 · management and general $944,007 · fundraising $810,662

  • 8 · Pension plan contributions

    total $309,290 · program services $195,028 · management and general $59,311 · fundraising $54,951

  • 9 · Other employee benefits

    total $708,547 · program services $455,856 · management and general $143,921 · fundraising $108,770

  • 10 · Payroll taxes

    total $394,512 · program services $248,737 · management and general $75,669 · fundraising $70,106

  • 11b · Fees: legal

    total $24 · management and general $24

  • 11c · Fees: accounting

    total $47,714 · management and general $47,714

  • 11f · Fees: investment management

    total $358,897 · management and general $358,897

  • 13 · Office expenses

    total $184,709 · program services $48,209 · management and general $55,729 · fundraising $80,771

  • 14 · Information technology

    total $375,818 · program services $187,909 · management and general $187,909

  • 17 · Travel

    total $21,922 · program services $10,961 · management and general $10,961

  • 22 · Depreciation, depletion and amortization

    total $1,719,658 · program services $1,490,427 · management and general $182,628 · fundraising $46,603

  • 23 · Insurance

    total $302,781 · program services $262,420 · management and general $32,155 · fundraising $8,206

  • 24a · Other expenses: MAINTENANCE

    total $2,346,181 · program services $1,062,273 · management and general $1,105,503 · fundraising $178,405

  • 24b · Other expenses: INSTRUCTION AND STUDENT

    total $1,384,747 · program services $1,384,747 · management and general $0 · fundraising $0

  • 24c · Other expenses: INSITUTIONAL PURPOSE EX

    total $156,696 · program services $0 · management and general $156,696 · fundraising $0

  • 24d · Other expenses: ADVANCEMENT

    total $155,356 · program services $0 · management and general $0 · fundraising $155,356

  • 24e · All other expenses

    total $98,242 · program services $59,531 · management and general $38,711

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,865 · end of year $4,295

  • 2 · Savings and temporary cash investments

    beginning of year $5,617,417 · end of year $11,544,915

  • 3 · Pledges and grants receivable

    beginning of year $3,962,811 · end of year $10,937,563

  • 8 · Inventories for sale or use

    beginning of year $58,798 · end of year $41,684

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

    $76,739,968

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

    $20,326,629

  • 10c · Land, buildings and equipment, net

    beginning of year $42,403,452 · end of year $56,413,339

  • 11 · Investments: publicly traded securities

    beginning of year $119,486,141 · end of year $124,332,592

  • 12 · Investments: other securities

    beginning of year $16,018,315 · end of year $19,085,190

  • 15 · Other assets

    beginning of year $20,386,044 · end of year $18,659,490

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,314,722 · end of year $1,862,261

  • 19 · Deferred revenue

    beginning of year $155,230 · end of year $0

  • 25 · Other liabilities

    beginning of year $980,687 · end of year $976,349

  • 27 · Net assets without donor restrictions

    beginning of year $60,309,545 · end of year $76,577,738

  • 28 · Net assets with donor restrictions

    beginning of year $144,174,659 · end of year $161,602,720

Mission and programs · 2022

Mission

WILLIAMSON COLLEGE OF THE TRADES PREPARES DESERVING YOUNG MEN TO BE RESPECTED LEADERS AND PRODUCTIVE MEMBERS OF SOCIETY.

Activities or mission (Part I)

TO PREPARE DESERVING YOUNG MEN TO BE RESPECTED LEADERS AND PRODUCTIVE MEMBERS OF SOCIETY.

  • TO ACCOMPLISH THE MISSION, WILLIAMSON PROVIDES STUDENTS WITH ACADEMIC, TRADE, TECHNICAL, MORAL AND LEADERSHIP EDUCATION WITH A JUDEO-CHRISTIAN PERSPECTIVE THAT FOSTERS THE VALUES OF FAITH, INTEGRITY, DILIGENCE, EXCELLENCE, AND SERVICE. THROUGH A COMPREHENSIVE FINANCIAL AID PORTFOLIO, THE TUITION, ROOM, AND BOARDING NET COST FOR ALL STUDENTS IS ZERO. PROGRAM EXPENSES ARE PARTIALLY ADDRESSED BY $849,558 IN PELL FUNDING, $24,650 IN FSEOG FUNDING AND $982,867 IN PA STATE GRANT FUNDING.EXPENSES ARE INCURRED FOR EDUCATIONAL TRAINING IN TRADE AND GENERAL EDUCATION COURSES.

    Expenses $5,289,827

  • BOARD, LODGING AND HEALTH SERVICE: STUDENTS ARE REQUIRED TO LIVE ON CAMPUS. MEALS, HOUSING, AND MEDICAL FACILITIES ARE PROVIDED AT THE COLLEGE'S EXPENSE. A SIGNIFICANT PORTION IS ALLOCATED TO SALARIES FOR THESE SERVICES.

    Expenses $3,163,136

  • ACTIVITY EXPENSES: THESE EXPENSES RELATE TO SOCIAL FUNCTIONS FOR THE STUDENTS AND ATHLETIC COSTS. COSTS ARE INCURRED FOR REFRESHMENT, ENTERTAINMENT AND ATHLETIC EQUIPMENT, SUPPLIES, AND COACHING SALARIES.

    Expenses $248,914

As filed on the 2022 return.

Listed in Part VII

  • Kevin Hatch

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • William J Bonenberger

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    20

  • John Lawton

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • William B Strine

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Christopher Schell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Vincent B Mancini

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • John F Barnes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nick J Davey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Heather Hassel-Finengan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John W Stuckey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michael T Piotrowicz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Edwin B Mahoney

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas L Ott

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy M Crow

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher J Moyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James J Obermeier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Arthur J Lallo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas J Goeke

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David W Watson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richard G Clemens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Wong

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Larry L Turner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Rounds

    PRESIDENT

    Total calculated
    $233,691
    From this org
    $188,992
    From related orgs
    $0
    Other
    $44,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,614
    Bonus
    $0
    Other
    $2,378
    Deferred
    $13,019
    Nontaxable benefits
    $31,680
    Filer's total
    $233,691

  • Michelle Williams

    CAO

    Total calculated
    $109,631
    From this org
    $102,434
    From related orgs
    $0
    Other
    $7,197
    Hours/week
    40

  • Nancy Catania

    CFO

    Total calculated
    $122,300
    From this org
    $114,243
    From related orgs
    $0
    Other
    $8,057
    Hours/week
    40

  • Todd Zachary

    PROVOST

    Total calculated
    $141,377
    From this org
    $132,138
    From related orgs
    $0
    Other
    $9,239
    Hours/week
    40

  • Arlene A Snyder

    VP ADVANCEMENT

    Total calculated
    $176,461
    From this org
    $164,972
    From related orgs
    $0
    Other
    $11,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,972
    Bonus
    $0
    Other
    $0
    Deferred
    $11,489
    Nontaxable benefits
    $0
    Filer's total
    $176,461

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
  • 1a · Personal services (maid, chauffeur, chef)
  • 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

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, SOCIAL CLUB DUES, AND PERSONAL SERVICES WERE PROVIDED TO MICHAEL J. ROUNDS (PRESIDENT) STRICTLY FOR BUSINESS PURPOSES. THESE AMOUNTS WERE NOT INCLUDED 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.

Provenance

Return type
form_990
Tax year
2022
Filed
4 October 2023
IRS schema version
2022v5.0
Source object
202312789349301521

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