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← PRESIDENT AND TRUSTEES OF BATES COLLEGE

Form 990 for tax year 2022

Filed by PRESIDENT AND TRUSTEES OF BATES COLLEGE.

Totals

Total revenue
$192,073,209
Total expenses
$179,471,899
Contributions and grants received
$31,562,649
Grants paid
$38,539,060
Program service revenue
$143,335,165
Investment income
$17,292,415
Other revenue
-$117,020
Total assets, end of year
$880,484,919
Total liabilities, end of year
$208,806,102
Net assets or fund balances, end of year
$671,678,817
Program services expenses (Part IX)
$154,571,081
Management and general expenses
$19,029,446
Fundraising expenses
$5,871,372
Program service expenses (Part III)
$154,571,081

Program services were 86.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $26,915

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $2,472,097

  • 1f · All other contributions, gifts and grants

    $29,063,637

  • 1g · Noncash contributions included above

    $2,266,647

  • 2a · Program service revenue: Student Tuition and Fees

    total $138,566,407 · related or exempt $138,566,407 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Other Educational Programs & Events

    total $3,235,037 · related or exempt $3,235,037 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Auxillary

    total $1,533,721 · related or exempt $1,533,721 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,195,709 · related or exempt $0 · unrelated business $1,135,146 · excluded $2,060,563

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $580,435 · personal property $0

  • 6b · Less rental expenses

    real property $696,761 · personal property $0

  • 6c · Rental income or loss

    real property -$116,326 · personal property $0

  • 6d · Net rental income or loss

    total -$116,326 · related or exempt $0 · unrelated business $0 · excluded -$116,326

  • 7a · Gross sales of assets other than inventory

    securities $82,761,996 · other assets $17,784,124

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

    securities $86,449,414 · other assets $0

  • 7c · Gain or loss

    securities -$3,687,418 · other assets $17,784,124

  • 7d · Net gain or loss

    total $14,096,706 · related or exempt $0 · unrelated business $224,754 · excluded $13,871,952

  • 8a · Fundraising events: gross income

    $49,013

  • 8a · Fundraising events: contributions included on line 1c

    $26,915

  • 8b · Fundraising events: direct expenses

    $49,707

  • 8c · Net income from fundraising events

    total -$694 · unrelated business $0 · excluded -$694

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,773 · program services $10,773

  • 2 · Grants to domestic individuals

    total $37,095,120 · program services $37,095,120

  • 3 · Grants to foreign organizations and individuals

    total $1,433,167 · program services $1,433,167

  • 5 · Compensation of officers, directors and key employees

    total $2,986,436 · program services $1,204,837 · management and general $1,424,057 · fundraising $357,542

  • 6 · Compensation of disqualified persons

    total $335,613 · program services $335,613

  • 7 · Other salaries and wages

    total $63,764,355 · program services $55,378,167 · management and general $5,640,387 · fundraising $2,745,801

  • 8 · Pension plan contributions

    total $5,702,851 · program services $5,022,177 · management and general $438,753 · fundraising $241,921

  • 9 · Other employee benefits

    total $9,711,676 · program services $8,327,536 · management and general $874,153 · fundraising $509,987

  • 10 · Payroll taxes

    total $4,428,615 · program services $3,822,050 · management and general $414,596 · fundraising $191,969

  • 11b · Fees: legal

    total $801,077 · program services $54,826 · management and general $718,514 · fundraising $27,737

  • 11c · Fees: accounting

    total $189,830 · management and general $189,830

  • 11f · Fees: investment management

    total $4,327,762 · management and general $4,327,762

  • 11g · Fees: other

    total $4,373,022 · program services $3,180,893 · management and general $1,046,466 · fundraising $145,663

  • 13 · Office expenses

    total $3,486,850 · program services $2,446,638 · management and general $738,509 · fundraising $301,703

  • 14 · Information technology

    total $4,962,614 · program services $4,019,717 · management and general $942,897

  • 16 · Occupancy

    total $6,800,262 · program services $6,645,054 · management and general $153,863 · fundraising $1,345

  • 17 · Travel

    total $2,521,199 · program services $2,200,153 · management and general $128,721 · fundraising $192,325

  • 19 · Conferences, conventions and meetings

    total $497,724 · program services $377,908 · management and general $77,033 · fundraising $42,783

  • 20 · Interest

    total $5,281,970 · program services $4,146,650 · management and general $1,135,320

  • 22 · Depreciation, depletion and amortization

    total $9,698,372 · program services $9,359,229 · management and general $339,143

  • 23 · Insurance

    total $1,181,862 · program services $1,035,311 · management and general $146,551

  • 24a · Other expenses: Food and Beverage

    total $4,044,996 · program services $3,246,877 · management and general $249,090 · fundraising $549,029

  • 24b · Other expenses: Books, Periodicals & Collections

    total $2,454,636 · program services $2,242,340 · management and general $38,876 · fundraising $173,420

  • 24c · Other expenses: Other Expenses

    total $1,897,072 · program services $1,977,855 · management and general -$299,005 · fundraising $218,222

  • 24d · Other expenses: Equipment, Rental & Maintenance

    total $1,484,045 · program services $1,008,190 · management and general $303,930 · fundraising $171,925

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $130,251 · end of year $112,807

  • 2 · Savings and temporary cash investments

    beginning of year $15,392,979 · end of year $11,988,639

  • 3 · Pledges and grants receivable

    beginning of year $53,111,160 · end of year $50,933,835

  • 4 · Accounts receivable

    beginning of year $2,181,351 · end of year $1,262,798

  • 7 · Other notes and loans receivable

    beginning of year $995,055 · end of year $702,091

  • 8 · Inventories for sale or use

    beginning of year $769,295 · end of year $804,693

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,131,001 · end of year $3,455,998

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

    $410,576,351

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

    $144,473,681

  • 10c · Land, buildings and equipment, net

    beginning of year $251,448,372 · end of year $266,102,670

  • 11 · Investments: publicly traded securities

    beginning of year $170,067,092 · end of year $204,404,292

  • 12 · Investments: other securities

    beginning of year $324,842,022 · end of year $323,437,656

  • 15 · Other assets

    beginning of year $51,106,091 · end of year $17,279,440

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,640,253 · end of year $19,291,133

  • 19 · Deferred revenue

    beginning of year $2,705,414 · end of year $2,396,812

  • 20 · Tax-exempt bond liabilities

    beginning of year $137,019,888 · end of year $134,576,243

  • 21 · Escrow or custodial account liability

    beginning of year $63,372 · end of year $75,740

  • 23 · Secured mortgages and notes payable

    beginning of year $36,000,000 · end of year $36,000,000

  • 25 · Other liabilities

    beginning of year $17,892,135 · end of year $16,466,174

  • 27 · Net assets without donor restrictions

    beginning of year $180,241,369 · end of year $195,891,593

  • 28 · Net assets with donor restrictions

    beginning of year $473,612,238 · end of year $475,787,224

Mission and programs · 2022

Mission

Bates is a college of the liberal arts and sciences, and is a coeducational, nonsectarian, residential college with special commitments to academic rigor, and to assuring in all of its efforts the dignity of each individual, and access to its programs and opportunities by qualified learners. Bates offers a curriculum and faculty that challenge students to attain intellectual achievements and to develop powers of critical assessment, analysis, expression, aesthetic sensibility, and independent thought. The College sponsors cultural, volunteer, athletic, social, and religious opportunities which are open to all students, and values participation in these activities.

Activities or mission (Part I)

Bates College is a private, highly selective, residential college devoted to undergraduate study in the traditional disciplines of the liberal arts and sciences as well as in emerging interdisciplinary programs.

  • Higher Education: Bates College offers a rigorous liberal arts education that is distinctive in its emphasis on student research, a signature thesis or capstone experience, immersive Short Term experience, Purposeful Work program, and opportunities for community-engaged learning. A 10-1 student-faculty ratio makes possible close collaborations in classroom and laboratory. A Bates education aims to prepare graduates who strive to embody the following qualities, capabilities, and inclinations: Knowledge, Problem Solving, Analytic Strength; Discernment and Persuasion; Intellectual Curiosity; Social Commitment and Integrity. Co-curricular life is rich with most students participating in one of approximately 120 student-run clubs and organizations. Typically, two-thirds of Bates' approximately 1,800 students on campus study abroad at some point during their Bates academic careers and close to 80 percent of students participate in internships. More than two-thirds of recent graduates enroll in graduate study within 10 years after graduation.

    Expenses $154,571,081 · Grants $38,539,060 · Revenue $143,335,165

As filed on the 2022 return.

Listed in Part VII

  • A Clayton Spencer

    President

    Total calculated
    $667,255
    From this org
    $534,753
    From related orgs
    $0
    Other
    $132,502
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $508,595
    Bonus
    $0
    Other
    $26,158
    Deferred
    $105,577
    Nontaxable benefits
    $37,009
    Filer's total
    $677,339

  • Geoffrey Swift

    VP Fin & Admin, Treasurer

    Total calculated
    $385,476
    From this org
    $332,185
    From related orgs
    $0
    Other
    $53,291
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $310,580
    Bonus
    $0
    Other
    $21,605
    Deferred
    $36,600
    Nontaxable benefits
    $21,405
    Filer's total
    $390,190

  • Joshua McIntosh

    VP Student Affairs, Dean of Students

    Total calculated
    $345,212
    From this org
    $288,305
    From related orgs
    $0
    Other
    $56,907
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,568
    Bonus
    $0
    Other
    $10,737
    Deferred
    $33,495
    Nontaxable benefits
    $33,160
    Filer's total
    $354,960

  • Malcolm Hill

    VP for Academic Affairs and Dean of the Faculty

    Total calculated
    $340,015
    From this org
    $274,983
    From related orgs
    $0
    Other
    $65,032
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,026
    Bonus
    $0
    Other
    $957
    Deferred
    $33,495
    Nontaxable benefits
    $41,255
    Filer's total
    $349,733

  • Sarah Pearson

    Vice President, College Advancement

    Total calculated
    $333,221
    From this org
    $294,373
    From related orgs
    $0
    Other
    $38,848
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,668
    Bonus
    $100,000
    Other
    $42,705
    Deferred
    $19,618
    Nontaxable benefits
    $28,814
    Filer's total
    $342,805

  • Eric Foushee

    Associate VP for College Advancement

    Total calculated
    $316,579
    From this org
    $244,146
    From related orgs
    $0
    Other
    $72,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,269
    Bonus
    $0
    Other
    $877
    Deferred
    $26,900
    Nontaxable benefits
    $50,168
    Filer's total
    $321,214

  • Leigh Weisenburger

    Dean of Admission and Financial Aid

    Total calculated
    $294,500
    From this org
    $219,018
    From related orgs
    $0
    Other
    $75,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,476
    Bonus
    $0
    Other
    $542
    Deferred
    $27,770
    Nontaxable benefits
    $47,934
    Filer's total
    $294,722

  • Patricia Schoknecht

    VP for Information & Library Services

    Total calculated
    $290,355
    From this org
    $225,328
    From related orgs
    $0
    Other
    $65,027
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,270
    Bonus
    $0
    Other
    $2,059
    Deferred
    $27,837
    Nontaxable benefits
    $37,893
    Filer's total
    $291,059

  • Jason Fein

    Director of Athletics

    Total calculated
    $285,635
    From this org
    $217,659
    From related orgs
    $0
    Other
    $67,976
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,948
    Bonus
    $0
    Other
    $36,711
    Deferred
    $22,731
    Nontaxable benefits
    $45,908
    Filer's total
    $286,298

  • Michael Hussey

    VP Institutional Affairs and Secretary to the Board of Trustees

    Total calculated
    $249,479
    From this org
    $183,523
    From related orgs
    $0
    Other
    $65,956
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,944
    Bonus
    $0
    Other
    $579
    Deferred
    $22,978
    Nontaxable benefits
    $43,642
    Filer's total
    $250,143

  • Christine Schwartz

    Assoc VP Dining Conferences Campus Events

    Total calculated
    $231,425
    From this org
    $185,352
    From related orgs
    $0
    Other
    $46,073
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,366
    Bonus
    $10,000
    Other
    $986
    Deferred
    $21,437
    Nontaxable benefits
    $25,288
    Filer's total
    $232,077

  • Marcus Bruce

    Professor

    Total calculated
    $228,369
    From this org
    $174,449
    From related orgs
    $0
    Other
    $53,920
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,404
    Bonus
    $0
    Other
    $22,045
    Deferred
    $21,223
    Nontaxable benefits
    $32,868
    Filer's total
    $228,540

  • Steven Dillon

    Professor

    Total calculated
    $227,268
    From this org
    $174,421
    From related orgs
    $0
    Other
    $52,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,253
    Bonus
    $0
    Other
    $12,168
    Deferred
    $20,141
    Nontaxable benefits
    $32,860
    Filer's total
    $227,422

  • Barry Lawson

    Professor

    Total calculated
    $218,952
    From this org
    $177,165
    From related orgs
    $0
    Other
    $41,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,351
    Bonus
    $0
    Other
    $3,814
    Deferred
    $20,874
    Nontaxable benefits
    $21,075
    Filer's total
    $219,114

  • Kathryn Low

    Professor

    Total calculated
    $193,615
    From this org
    $148,375
    From related orgs
    $0
    Other
    $45,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,261
    Bonus
    $0
    Other
    $3,114
    Deferred
    $17,969
    Nontaxable benefits
    $27,416
    Filer's total
    $193,760

  • Kelli J Armstrong

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Chris Barbin

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisa B Barry

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Andrea C Bueschel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Erica Bullard

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ann E Bushmiller

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Gregory A Ehret

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Katherine Segal Frekko

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John D Gillespie

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Karen A Gordon

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Evelynn M Hammonds

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Erik O Jarnryd

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stacey L Kelly

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David W Longdon III

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark D Mandel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lance Matthiesen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Judith B Miller

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Terrence J Murray

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stacey A Rizza

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Benjamin E Robinson III

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Michelle A Rosenberg

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John T Rossello Jr

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jeremy M Sclar

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Emma Sprague

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Anne K Wade

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Melissa Wilcox Yanagi

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jean P Wilson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Garth A L Timoll

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisa Utzschneider

    Board Member

    Total calculated
    $0
    Hours/week
    1

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 · 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 · 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

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
Residence for personal use - Pursuant to employment agreements as a condition of employment and for the convenience of the College, a campus residence was provided to President A. Clayton Spencer, Vice Presidents Sarah Pearson, Joshua McIntosh, and Malcolm Hill, and Athletics Director Jason Fein; all are not considered taxable income. Personal services - the College pays reasonable housekeeping costs to maintain the President's house. Expenses for housekeeping services for the President's personal use are reimbursed by the President and not included in taxable income.
Schedule J, Part I, Line 4
Line 4(b) - President A. Clayton Spencer received a non-taxable award of $68,977 pursuant to a 457(f) Supplemental Retirement Plan; the amount is included in Schedule J, Part II, column C.
Schedule J, Part I, Line 7
The Associate VP of Dining Conferences and Campus Events received a performance bonus of $10,000.

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

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 Trusts (9 total)

    T · Trust · ME · controlled entity

    Directly controlled by President and Trustees of Bates College

  • Pooled Income Trusts (2)

    T · Trust · ME · controlled entity

    Directly controlled by President and Trustees of Bates College

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349308899

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