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Nonprofiteer
← LAFAYETTE COLLEGE

Form 990 for tax year 2022

Filed by LAFAYETTE COLLEGE.

Totals

Total revenue
$258,966,915
Total expenses
$258,407,731
Contributions and grants received
$33,828,877
Grants paid
$64,292,294
Program service revenue
$199,283,679
Investment income
$18,162,776
Other revenue
$7,691,583
Total assets, end of year
$1,649,595,334
Total liabilities, end of year
$376,125,566
Net assets or fund balances, end of year
$1,273,469,768
Program services expenses (Part IX)
$217,087,005
Management and general expenses
$35,482,920
Fundraising expenses
$5,837,806
Program service expenses (Part III)
$217,087,005

Program services were 84.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • NICOLE F HURD

    PRESIDENT

    Total calculated
    $869,557
    From this org
    $703,898
    From related orgs
    $0
    Other
    $165,659
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $562,500
    Bonus
    $52,500
    Other
    $88,898
    Deferred
    $88,975
    Nontaxable benefits
    $76,684
    Filer's total
    $869,557

  • ROBERT E SELL

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • LINDA ASSANTE CARRASCO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • ANGEL L MENDEZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • JAMES R BIRLE JR

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • ANTONIO F FERNANDEZ

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • SUSAN L FOX

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • JEFFERSON W KIRBY

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • LEO A HELMERS

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • JUDSON C LINVILLE

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • PAMELA S PASSMAN

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • JB REILLY

    EXECUTIVE COMMITTEE

    Total calculated
    $0
    Hours/week
    3

  • JAMES L BENJAMIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KIMBERLY W BENSTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • HARRY S CHERKEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SEBASTIAN J CRAPANZANO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • TANUJA MAJUMDAR DEHNE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LANETA J DORFLINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JONATHAN S ELLIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOHN A FRY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL C HEANEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • HAROLD N KAMINE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LISA J KASSEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BARBARA LEVY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CLAUDINE D LILIEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KAMAKA R MARTIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • D CHRISTIAN MCCUMBER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOSE A RODRIGUEZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DAVID M ROTH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PETER S RUGGIERO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM H SPENCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LAUREN A STEINITZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • WYNNE A WHITMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ALVIN M YEARWOOD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KRISHNA MEMANI

    CHIEF INVESTMENT OFFICER

    Total calculated
    $882,827
    From this org
    $838,895
    From related orgs
    $0
    Other
    $43,932
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $412,500
    Bonus
    $412,500
    Other
    $13,895
    Deferred
    $28,975
    Nontaxable benefits
    $14,957
    Filer's total
    $882,827

  • KIMBERLY A SPANG

    VP DEVELOPMENT & COLLEGE RELATIONS

    Total calculated
    $416,822
    From this org
    $352,942
    From related orgs
    $0
    Other
    $63,880
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $326,286
    Bonus
    $15,000
    Other
    $11,656
    Deferred
    $28,975
    Nontaxable benefits
    $34,905
    Filer's total
    $416,822

  • LESLIE F MUHLFELDER

    VP HUMAN RESOURCES, GENERAL COUNSEL

    Total calculated
    $407,712
    From this org
    $363,780
    From related orgs
    $0
    Other
    $43,932
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $346,320
    Bonus
    $10,000
    Other
    $7,460
    Deferred
    $28,975
    Nontaxable benefits
    $14,957
    Filer's total
    $407,712

  • JOHN E MEIER

    PROVOST

    Total calculated
    $396,139
    From this org
    $334,668
    From related orgs
    $0
    Other
    $61,471
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $311,100
    Bonus
    $20,000
    Other
    $3,568
    Deferred
    $28,975
    Nontaxable benefits
    $32,496
    Filer's total
    $396,139

  • ANNETTE DIORIO

    VP CAMPUS LIFE (THRU 12/2022)

    Total calculated
    $295,443
    From this org
    $264,254
    From related orgs
    $0
    Other
    $31,189
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $227,171
    Bonus
    $10,000
    Other
    $27,083
    Deferred
    $23,998
    Nontaxable benefits
    $7,191
    Filer's total
    $295,443

  • JOHN L O'KEEFE

    VP & CHIEF INFORMAITON OFFICER

    Total calculated
    $286,762
    From this org
    $248,764
    From related orgs
    $0
    Other
    $37,998
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $245,640
    Bonus
    $2,500
    Other
    $624
    Deferred
    $23,256
    Nontaxable benefits
    $14,742
    Filer's total
    $286,762

  • FORREST STUART

    VP ENROLLMENT MANAGEMENT

    Total calculated
    $261,931
    From this org
    $231,508
    From related orgs
    $0
    Other
    $30,423
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $210,393
    Bonus
    $20,000
    Other
    $1,115
    Deferred
    $15,870
    Nontaxable benefits
    $14,553
    Filer's total
    $261,931

  • AUDRA J KAHR

    EVP FIN AND ADMIN (AS OF 11/2022)

    Total calculated
    $37,651
    From this org
    $33,252
    From related orgs
    $0
    Other
    $4,399
    Hours/week
    50

  • CRAIG BECKER

    ASSOC VP FINANCE

    Total calculated
    $402,680
    From this org
    $363,642
    From related orgs
    $0
    Other
    $39,038
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $349,147
    Bonus
    $10,000
    Other
    $4,495
    Deferred
    $24,539
    Nontaxable benefits
    $14,499
    Filer's total
    $402,680

  • ALMA SCOTT-BUCZAK

    ASSOC VP HUMAN RESOURCES

    Total calculated
    $252,511
    From this org
    $220,643
    From related orgs
    $0
    Other
    $31,868
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,558
    Bonus
    $2,000
    Other
    $27,085
    Deferred
    $18,114
    Nontaxable benefits
    $13,754
    Filer's total
    $252,511

  • JOHN R DAILEY

    INVESTMENT DIRECTOR

    Total calculated
    $439,612
    From this org
    $400,623
    From related orgs
    $0
    Other
    $38,989
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $255,000
    Bonus
    $145,000
    Other
    $623
    Deferred
    $24,225
    Nontaxable benefits
    $14,764
    Filer's total
    $439,612

  • LI ZHAO

    INVESTMENT DIRECTOR

    Total calculated
    $408,623
    From this org
    $385,306
    From related orgs
    $0
    Other
    $23,317
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,000
    Bonus
    $170,000
    Other
    $306
    Deferred
    $20,425
    Nontaxable benefits
    $2,892
    Filer's total
    $408,623

  • JOHN D TROXELL

    HEAD COACH - FOOTBALL

    Total calculated
    $330,142
    From this org
    $291,045
    From related orgs
    $0
    Other
    $39,097
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $258,254
    Bonus
    $0
    Other
    $32,791
    Deferred
    $24,392
    Nontaxable benefits
    $14,705
    Filer's total
    $330,142

  • BRUCE A MURPHY

    KIRBY PROFESSOR OF GOVERNMENT & LAW

    Total calculated
    $312,974
    From this org
    $273,506
    From related orgs
    $0
    Other
    $39,468
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $270,175
    Bonus
    $0
    Other
    $3,331
    Deferred
    $25,667
    Nontaxable benefits
    $13,801
    Filer's total
    $312,974

  • SHERRYTA FREEMAN

    DIRECTOR OF ATHLETICS

    Total calculated
    $301,298
    From this org
    $269,985
    From related orgs
    $0
    Other
    $31,313
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $254,695
    Bonus
    $10,000
    Other
    $5,290
    Deferred
    $24,071
    Nontaxable benefits
    $7,242
    Filer's total
    $301,298

  • GREGORY V MACDONALD

    VP ENROLLMENT MGMT (THRU 04/2022)

    Total calculated
    $190,619
    From this org
    $177,488
    From related orgs
    $0
    Other
    $13,131
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $65,087
    Bonus
    $0
    Other
    $112,401
    Deferred
    $8,208
    Nontaxable benefits
    $4,923
    Filer's total
    $190,619

  • MARK EYERLY

    VP MARKETING & COMM (THRU 06/2022)

    Total calculated
    $232,103
    From this org
    $212,837
    From related orgs
    $0
    Other
    $19,266
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $113,500
    Bonus
    $0
    Other
    $99,337
    Deferred
    $12,228
    Nontaxable benefits
    $7,038
    Filer's total
    $232,103

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 · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 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 committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS - IN ACCORDANCE WITH COLLEGE POLICY, IN LIMITED INSTANCES WITH DOCUMENTATION FOR THE BUSINESS PURPOSE FULFILLED BY THE COMPANION AND ANY REQUIRED PRIOR APPROVALS, THE COLLEGE WILL PAY FOR TRAVEL EXPENSES OF A COMPANION WHEN THE COMPANION TRAVEL IS 1] FOR A BONA FIDE BUSINESS PURPOSE, AND 2] IMPORTANT TO THE ACHIEVEMENT OF THE COLLEGE'S PURPOSES THAT REQUIRE THE TRAVEL OF THE EMPLOYEE AND COMPANION. TAX INDEMNIFICATION - DURING CALENDAR YEAR 2022, A $13,596 TAX EQUALIZATION PAYMENT WAS MADE TO NICOLE FARMER HURD (PRESIDENT). THE PAYMENT IS IN ACCORDANCE WITH THE EMPLOYMENT CONTRACT AND/OR AUTHORIZATIONS FROM THE BOARD OF TRUSTEES AND ARE SPECIFIC TO THE PRESIDENT. HOUSING ALLOWANCE - AS PART OF THEIR EMPLOYMENT CONTRACT AND FOR THE CONVENIENCE OF THE COLLEGE, A COLLEGE-OWNED RESIDENCE WAS PROVIDED TO THE PRESIDENT. THE HOUSING PROVIDED IS LOCATED ON COLLEGE PROPERTY AND IS IN CONJUNCTION WITH THE OFFICER'S DUTIES. THE ESTIMATED ANNUAL VALUE OF THE HOUSING PROVIDED IS INCLUDED AS A NONTAXABLE BENEFIT IN THIS RETURN IN THE AMOUNT OF $51,639 FOR PRESIDENT NICOLE FARMER HURD. IT IS THE POLICY OF THE COLLEGE'S BOARD OF TRUSTEES THAT THE PRESIDENT RESIDE ON COLLEGE PROPERTY. THE PRESIDENT DETERMINES IF THE DUTIES OF OTHER OFFICERS REQUIRE THEM TO RESIDE ON COLLEGE PROPERTY. JOHN MEIER IS THE PROVOST FOR THE COLLEGE. AS PART OF HIS EMPLOYMENT CONTRACT HE IS REQUIRED TO RESIDE ON CAMPUS. HIS RESPONSIBILITIES AS PROVOST INCLUDE BEING AVAILABLE, IN THE ABSENCE AT ANY TIME OF THE COLLEGE'S PRESIDENT, TO STEP IN AND ASSUME THE PRESIDENT'S RESPONSIBILITIES TO HANDLE CAMPUS EMERGENCIES AND THE LIKE AS WELL AS TO FUNCTION AS THE COLLEGE'S CHIEF ACADEMIC OFFICER OVERSEEING ALL ACADEMIC DEPARTMENTS, PROGRAMS AND OPERATIONS AT THE COLLEGE. PERSONAL SERVICES - IN ACCORDANCE WITH THE POLICY OF THE COLLEGE'S BOARD OF TRUSTEES AND THE PRESIDENT'S EMPLOYMENT CONTRACT, THE PRESIDENT OF COLLEGE IS REQUIRED TO RESIDE ON COLLEGE PROPERTY. THE PRESIDENT'S HOUSE SERVES NOT ONLY AS A RESIDENCE, BUT ALSO AS A HOST LOCATION FOR MANY COLLEGE EVENTS AND THE COLLEGE PROVIDES STAFF TO MAINTAIN THE HOME. FOR CALENDAR YEAR 2022, $3,900 WAS THE PORTION OF THE HOUSEKEEPER'S SALARY DETERMINED TO BE FOR PERSONAL SERVICES AND INCLUDED AS REPORTABLE COMPENSATION. SOCIAL CLUB - THE COLLEGE MAINTAINS A SOCIAL CLUB MEMBERSHIP IN THE NAME OF THE PRESIDENT THAT IS PRIMARILY USED FOR BUSINESS PURPOSES, INCLUDING FUNDRAISING AND DONOR RELATION ACTIVITIES.
PART I, LINE 3
THE COMPENSATION COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION. THE COMMITTEE REVIEWS DATA OBTAINED FROM ITS EXTERNAL COMPENSATION CONSULTANT ON PRESIDENTIAL SALARIES FROM COMPARABLE INSTITUTIONS AND UPDATES OR ADJUSTS THAT DATA THROUGH SURVEYS AND OTHER AVAILABLE RESOURCES. IN ADDITION, AN ANNUAL PERFORMANCE REVIEW IS CONDUCTED.
PART I, LINE 4A
VP MARKETING & COMMUNICATIONS - $82,855 VP OF ENROLLMENT MANAGEMENT - $90,220
PART I, LINE 7
FROM TIME TO TIME CERTAIN EMPLOYMENT CONTRACTS CONTAIN BONUS CLAUSES. THESE BONUSES ARE BASED ON METRICS SPECIFIC TO THE POSITION. IN ADDITION, FROM TIME TO TIME, THE GOVERNING BODY PROVIDES BONUSES TO OFFICERS, DIRECTORS, KEY EMPLOYEES, AND OTHER STAFF BASED ON PERFORMANCE THEY DEEM WORTHY OF THE AWARD. THESE BONUSES ARE COMPLETELY DISCRETIONAL.

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

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 UNITRUSTS (23)

    T · INVESTMENTS · PA · 100% owned · controlled entity

    Directly controlled by LAFAYETTE COLLEGE

  • PERPETUAL TRUST (1)

    T · INVESTMENTS · NV

  • PERPETUAL TRUST (2)

    T · INVESTMENTS · NV

  • PERPETUAL TRUST (3)

    T · INVESTMENTS · PA

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202431219349301968

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