Totals
- Total revenue
- $95,658,452
- Total expenses
- $106,905,694
- Contributions and grants received
- $5,165,602
- Grants paid
- $39,323,644
- Program service revenue
- $80,266,370
- Investment income
- $7,904,705
- Other revenue
- $2,321,775
- Total assets, end of year
- $195,408,845
- Total liabilities, end of year
- $63,713,978
- Net assets or fund balances, end of year
- $131,694,867
- Program services expenses (Part IX)
- $93,161,313
- Management and general expenses
- $11,580,528
- Fundraising expenses
- $2,163,853
- Program service expenses (Part III)
- $93,161,313
Program services were 87.1% 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)
$1,999,312
-
1f · All other contributions, gifts and grants
$3,166,290
-
1g · Noncash contributions included above
$130,253
-
2a · Program service revenue: TUITION AND FEES
total $61,468,561 · related or exempt $61,468,561
-
2b · Program service revenue: RESIDENCE AND DINNING
total $16,266,582 · related or exempt $16,266,582
-
2c · Program service revenue: SPECIAL EVENTS
total $834,823 · excluded $834,823
-
2d · Program service revenue: BOOK STORE
total $727,404 · excluded $727,404
-
2e · Program service revenue: OTHER AUXIL
total $338,538 · related or exempt $338,538
-
2f · All other program service revenue
total $630,462 · related or exempt $630,462
-
3 · Investment income
total $3,450,762 · unrelated business -$148,096 · excluded $3,598,858
-
6a · Gross rents
real property $195,594
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $195,594
-
6d · Net rental income or loss
total $195,594 · excluded $195,594
-
7a · Gross sales of assets other than inventory
securities $18,877,997 · other assets $966,598
-
7b · Less cost or other basis and sales expenses
securities $15,390,652 · other assets $0
-
7c · Gain or loss
securities $3,487,345 · other assets $966,598
-
7d · Net gain or loss
total $4,453,943 · unrelated business $196,992 · excluded $4,256,951
-
11a · Other revenue: GAIN ON BOND REFUNDING
total $1,463,806 · excluded $1,463,806
-
11b · Other revenue: OTHER OPERATING INCOME
total $662,375 · excluded $662,375
-
11e · Other revenue, total
$2,126,181
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,000 · program services $10,000
-
2 · Grants to domestic individuals
total $38,736,376 · program services $38,736,376
-
3 · Grants to foreign organizations and individuals
total $577,268 · program services $577,268
-
5 · Compensation of officers, directors and key employees
total $1,510,442 · program services $651,665 · management and general $422,617 · fundraising $436,160
-
7 · Other salaries and wages
total $25,316,229 · program services $21,173,063 · management and general $3,342,131 · fundraising $801,035
-
8 · Pension plan contributions
total $572,968 · program services $482,128 · management and general $76,821 · fundraising $14,019
-
9 · Other employee benefits
total $5,902,830 · program services $4,921,485 · management and general $816,001 · fundraising $165,344
-
10 · Payroll taxes
total $1,871,078 · program services $1,528,416 · management and general $260,331 · fundraising $82,331
-
11b · Fees: legal
total $216,765 · management and general $216,765
-
11c · Fees: accounting
total $187,550 · management and general $187,550
-
11d · Fees: lobbying
total $1,558 · management and general $1,558
-
11e · Fees: professional fundraising services
total $215,776 · fundraising $215,776
-
11f · Fees: investment management
total $444,713 · management and general $444,713
-
12 · Advertising and promotion
total $1,678,706 · program services $1,063,640 · management and general $615,008 · fundraising $58
-
13 · Office expenses
total $4,736,419 · program services $3,262,450 · management and general $1,342,846 · fundraising $131,123
-
14 · Information technology
total $1,918,564 · program services $927,958 · management and general $934,799 · fundraising $55,807
-
16 · Occupancy
total $4,576,063 · program services $4,448,117 · management and general $127,946
-
17 · Travel
total $1,992,356 · program services $1,734,695 · management and general $177,150 · fundraising $80,511
-
20 · Interest
total $1,934,107 · program services $1,925,645 · management and general $8,462
-
22 · Depreciation, depletion and amortization
total $6,457,772 · program services $5,900,601 · management and general $557,171
-
23 · Insurance
total $704,853 · program services $641,134 · management and general $63,686 · fundraising $33
-
24a · Other expenses: CATERING/LECTURER/OTHER
total $7,343,301 · program services $5,176,672 · management and general $1,984,973 · fundraising $181,656
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $15,389,501 · end of year $5,941,981
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $2,547,292 · end of year $1,693,646
-
4 · Accounts receivable
beginning of year $1,800,827 · end of year $1,516,740
-
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 $2,319,230 · end of year $1,587,508
-
8 · Inventories for sale or use
beginning of year $324,661 · end of year $336,480
-
9 · Prepaid expenses and deferred charges
beginning of year $2,383,867 · end of year $2,347,205
-
10a · Land, buildings and equipment: cost or other basis
$223,343,963
-
10b · Land, buildings and equipment: accumulated depreciation
$148,591,753
-
10c · Land, buildings and equipment, net
beginning of year $77,962,397 · end of year $74,752,210
-
11 · Investments: publicly traded securities
beginning of year $50,603,596 · end of year $47,340,582
-
12 · Investments: other securities
beginning of year $47,009,196 · end of year $59,619,242
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $262,219 · end of year $273,251
-
17 · Accounts payable and accrued expenses
beginning of year $3,637,087 · end of year $3,458,884
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $2,954,395 · end of year $2,526,885
-
20 · Tax-exempt bond liabilities
beginning of year $45,482,453 · end of year $53,820,616
-
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 $5,204,677 · end of year $3,907,593
-
27 · Net assets without donor restrictions
beginning of year $78,178,476 · end of year $65,787,491
-
28 · Net assets with donor restrictions
beginning of year $65,145,698 · end of year $65,907,376
Mission and programs · 2022
Mission
IT IS THE MISSION OF SAINT MICHAEL'S COLLEGE TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND TO THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH.
Activities or mission (Part I)
SEE SCHEDULE O TO CONTRIBUTE THROUGH HIGHER EDUCATION TO THE ENHANCEMENT OF THE HUMAN PERSON AND THE ADVANCEMENT OF HUMAN CULTURE IN THE LIGHT OF THE CATHOLIC FAITH.
-
ACADEMIC PROGRAM AND FINANCIAL AID, SEE SCH O
Expenses $63,479,012 · Grants $39,323,644 · Revenue $61,468,561
-
AUXILIARY ENTERPRISES, SEE SCH O
Expenses $14,556,552 · Revenue $18,797,809
-
STUDENT SERVICES, SEE SCH O
Expenses $15,125,749
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Lorraine Sterritt PhDDR LORRAINE STERRITT PHD
PRESIDENT/TRUSTEE
- Total calculated
- $487,500
- From this org
- $418,606
- From related orgs
- $0
- Other
- $68,894
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $413,008
- Bonus
- $0
- Other
- $5,598
- Deferred
- $9,150
- Nontaxable benefits
- $59,744
- Filer's total
- $487,500
-
Ms Patricia A CaseyMS PATRICIA A CASEY
CHAIR OF THE BOARD
- Total calculated
- $0
- Hours/week
- 12
-
Mr Mark S DaltonMR MARK S DALTON
VICE CHAIRS OF THE BOARD
- Total calculated
- $0
- Hours/week
- 20
-
Ms Maureen K UsiferMS MAUREEN K USIFER
VICE CHAIRS OF THE BOARD
- Total calculated
- $0
- Hours/week
- 6
-
Mr Joseph A BellissimoMR JOSEPH A BELLISSIMO
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 1
-
Rev Msgr Bernard W BourgeoisREV MSGR BERNARD W BOURGEOIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr George M BowenMR GEORGE M BOWEN
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 1
-
Mr Patrick N Brown PhDMR PATRICK N BROWN PHD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Gregory F BrucatoDR GREGORY F BRUCATO
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 1
-
Mr Garrett ClarkMR GARRETT CLARK
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 8
-
Very Rev David G Cray SseVERY REV DAVID G CRAY SSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Rev Stanley M Deresienski SseREV STANLEY M DERESIENSKI SSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Mr Timothy E FordMR TIMOTHY E FORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Rev Patrick J FormanREV PATRICK J FORMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mr William H GallagherMR WILLIAM H GALLAGHER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mr Joseph P GarrityMR JOSEPH P GARRITY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Rev Thomas F X Hoar PhD SseREV THOMAS F X HOAR PHD SSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr George C Keady IIIMR GEORGE C KEADY III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Mr Brian G LaceyMR BRIAN G LACEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Anthony J MaginnisMR ANTHONY J MAGINNIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Chad D McEachernMR CHAD D MCEACHERN
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 3
-
Mr Philip F McGovern Jr EsqMR PHILIP F MCGOVERN JR ESQ
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 1
-
Rev Richard M Myhalyk SseREV RICHARD M MYHALYK SSE
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 1
-
Mr Robert T NoonanMR ROBERT T NOONAN
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 6
-
Dr Celine R PaquetteDR CELINE R PAQUETTE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Mr James F PhalenMR JAMES F PHALEN
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 4
-
Rev Marcel Rainville SseREV MARCEL RAINVILLE SSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 40
-
Dr Tracy A Romano PhDDR TRACY A ROMANO PHD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ms Elaine StokesMS ELAINE STOKES
TRUSTEE (AS OF 7/1/22)
- Total calculated
- $0
- Hours/week
- 2
-
Robert RobinsonROBERT ROBINSON
VP FOR FINANCE/TREASURER
- Total calculated
- $218,178
- From this org
- $178,404
- From related orgs
- $0
- Other
- $39,774
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $178,404
- Bonus
- $0
- Other
- $0
- Deferred
- $5,613
- Nontaxable benefits
- $34,161
- Filer's total
- $218,178
-
Kristen McAndrewKRISTEN MCANDREW
VP ENROLLMENT/MARKETING
- Total calculated
- $212,659
- From this org
- $195,240
- From related orgs
- $0
- Other
- $17,419
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $195,240
- Bonus
- $0
- Other
- $0
- Deferred
- $5,875
- Nontaxable benefits
- $11,544
- Filer's total
- $212,659
-
Dawn M EllinwoodDAWN M ELLINWOOD
VP FOR STUDENT AFFAIRS
- Total calculated
- $222,218
- From this org
- $181,169
- From related orgs
- $0
- Other
- $41,049
- Hours/week
- 40 + 1.5 related
Schedule J breakdown matched by us
- Base
- $181,169
- Bonus
- $0
- Other
- $0
- Deferred
- $5,603
- Nontaxable benefits
- $35,446
- Filer's total
- $222,218
-
Jeffery TrumbowerJEFFERY TRUMBOWER
VP ACADEMIC AFFAIRS
- Total calculated
- $212,327
- From this org
- $179,247
- From related orgs
- $0
- Other
- $33,080
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $179,247
- Bonus
- $0
- Other
- $0
- Deferred
- $5,566
- Nontaxable benefits
- $27,514
- Filer's total
- $212,327
-
Krystyna Davenport BrownKRYSTYNA DAVENPORT BROWN
VP INSTITUTIONAL ADVANCEMENT
- Total calculated
- $212,526
- From this org
- $165,440
- From related orgs
- $0
- Other
- $47,086
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $165,440
- Bonus
- $0
- Other
- $0
- Deferred
- $5,365
- Nontaxable benefits
- $41,721
- Filer's total
- $212,526
-
Sarah HastingSARAH HASTING
PROFESSOR PSYCHOLOGY
- Total calculated
- $146,278
- From this org
- $123,811
- From related orgs
- $0
- Other
- $22,467
- Hours/week
- 40
-
Mary MasonMARY MASON
NURSE PRACTITIONER
- Total calculated
- $152,590
- From this org
- $121,181
- From related orgs
- $0
- Other
- $31,409
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,181
- Bonus
- $0
- Other
- $0
- Deferred
- $3,375
- Nontaxable benefits
- $28,034
- Filer's total
- $152,590
-
Alessandro BertoniALESSANDRO BERTONI
MARKETING DIRECTOR
- Total calculated
- $154,019
- From this org
- $115,486
- From related orgs
- $0
- Other
- $38,533
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $115,486
- Bonus
- $0
- Other
- $0
- Deferred
- $3,648
- Nontaxable benefits
- $34,885
- Filer's total
- $154,019
-
Jeffrey AyersJEFFREY AYERS
PROFESSOR POLITICAL SCIENCE
- Total calculated
- $175,301
- From this org
- $158,033
- From related orgs
- $0
- Other
- $17,268
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,033
- Bonus
- $0
- Other
- $0
- Deferred
- $3,711
- Nontaxable benefits
- $13,557
- Filer's total
- $175,301
-
Michael LarsenMICHAEL LARSEN
PROFESSOR MATHEMATICS
- Total calculated
- $147,583
- From this org
- $116,129
- From related orgs
- $0
- Other
- $31,454
- Hours/week
- 40
-
Susan GokeySUSAN GOKEY
DIRECTOR OF FINANCE
- Total calculated
- $139,371
- From this org
- $120,125
- From related orgs
- $0
- Other
- $19,246
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,125
- Bonus
- $0
- Other
- $0
- Deferred
- $3,711
- Nontaxable benefits
- $15,535
- Filer's total
- $139,371
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 · Written employment contract
- 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
- COMPENSATION INFORMATION FOR BLIGIBLE EMPLOYEES, COLUMN (D) NONTAXABLE BENEFITS PRIMARILY CONSISTS OF HEALTH CARE AND DENTAL BENEFITS. DETAILS FOR AMOUNTS REPORTED IN COLUMNS B (III) AND COLUMN (D) ARE LISTED BELOW: DR. LORRAINE STERRITT - COLUMN B (III) INCLUDES PERSONAL USE OF A COLLEGE VEHICLE. COLUMN (D) INCLUDES A HOUSING ALLOWANCE OF $42,015.
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
-
SEE PART IV
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.
-
SAINT MICHAELS COLLEGE FIRE & RESCUE
501(C)(3) · FIRE & RESCUE · VT · controlled entity
Directly controlled by SMC
-
MERRILL CEMETARY ASSOCIATION INC
501(C)(13) · CEMETARY · VT · controlled entity
Directly controlled by SMC
-
GREEN MTN HIGHER EDUCATION CONSORTIUM
501(C)(3) · CONSORTIUM · VT
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401359349311220
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.