Form 990 for tax year 2022

Filed by COLBY-SAWYER COLLEGE.

Totals

Total revenue: $69,063,751
Total expenses: $63,833,439
Contributions and grants received: $18,779,976
Grants paid: $25,692,985
Program service revenue: $49,593,147
Investment income: $698,721
Other revenue: -$8,093
Total assets, end of year: $134,968,854
Total liabilities, end of year: $31,417,901
Net assets or fund balances, end of year: $103,550,953
Program services expenses (Part IX): $51,364,111
Management and general expenses: $11,441,909
Fundraising expenses: $1,027,419
Program service expenses (Part III): $51,364,111

Program services were 80.5% 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.

1c · Fundraising events

$21,650
1e · Government grants (contributions)

$845,434
1f · All other contributions, gifts and grants

$17,912,892
1g · Noncash contributions included above

$301,610
2a · Program service revenue: Tuition and Fees

total $36,050,539 · related or exempt $36,050,539
2b · Program service revenue: Auxiliary Enterprises

total $12,945,618 · related or exempt $12,448,559 · unrelated business $497,059
2c · Program service revenue: Other Student Revenue

total $596,990 · related or exempt $596,990
3 · Investment income

total $1,460,270 · excluded $1,460,270
7a · Gross sales of assets other than inventory

securities $17,195,895
7b · Less cost or other basis and sales expenses

securities $17,957,444
7c · Gain or loss

securities -$761,549
7d · Net gain or loss

total -$761,549 · excluded -$761,549
8a · Fundraising events: gross income

$15,840
8a · Fundraising events: contributions included on line 1c

$21,650
8b · Fundraising events: direct expenses

$23,933
8c · Net income from fundraising events

total -$8,093 · excluded -$8,093

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $25,692,985 · program services $25,692,985
5 · Compensation of officers, directors and key employees

total $549,412 · management and general $549,412
7 · Other salaries and wages

total $14,695,927 · program services $11,243,011 · management and general $2,850,565 · fundraising $602,351
8 · Pension plan contributions

total $438,703 · program services $339,105 · management and general $90,433 · fundraising $9,165
9 · Other employee benefits

total $3,122,723 · program services $2,326,136 · management and general $724,144 · fundraising $72,443
10 · Payroll taxes

total $1,074,870 · program services $791,080 · management and general $249,693 · fundraising $34,097
11b · Fees: legal

total $45,844 · management and general $45,844
11c · Fees: accounting

total $86,629 · management and general $86,629
11e · Fees: professional fundraising services

total $75,754 · fundraising $75,754
11f · Fees: investment management

total $135,470 · management and general $135,470
11g · Fees: other

total $5,421,647 · program services $4,220,111 · management and general $1,153,239 · fundraising $48,297
12 · Advertising and promotion

total $82,905 · program services $74,301 · management and general $8,604
13 · Office expenses

total $118,888 · program services $21,349 · fundraising $97,539
16 · Occupancy

total $1,861,456 · program services $49,237 · management and general $1,812,219
17 · Travel

total $118,416 · program services $98,754 · management and general $6,720 · fundraising $12,942
20 · Interest

total $1,046,713 · program services $954,085 · management and general $92,628
22 · Depreciation, depletion and amortization

total $2,323,604 · program services $2,043,506 · management and general $280,098
23 · Insurance

total $893,808 · program services $38,100 · management and general $855,708
24a · Other expenses: Miscellaneous

total $3,145,009 · program services $1,057,557 · management and general $2,032,378 · fundraising $55,074
24b · Other expenses: Other Student Services

total $1,469,874 · program services $982,025 · management and general $468,092 · fundraising $19,757
24c · Other expenses: Food

total $923,921 · program services $923,888 · management and general $33
24d · Other expenses: Sports

total $508,881 · program services $508,881

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $28,671 · end of year $29,184
2 · Savings and temporary cash investments

beginning of year $6,232,551 · end of year $7,712,442
3 · Pledges and grants receivable

beginning of year $6,172,365 · end of year $4,498,509
4 · Accounts receivable

beginning of year $1,441,611 · end of year $644,003
7 · Other notes and loans receivable

beginning of year $229,941 · end of year $180,031
9 · Prepaid expenses and deferred charges

beginning of year $494,562 · end of year $524,732
10a · Land, buildings and equipment: cost or other basis

$104,232,278
10b · Land, buildings and equipment: accumulated depreciation

$49,944,857
10c · Land, buildings and equipment, net

beginning of year $51,851,416 · end of year $54,287,421
11 · Investments: publicly traded securities

beginning of year $54,271,199 · end of year $64,070,033
12 · Investments: other securities

beginning of year $2,431,464 · end of year $2,538,475
14 · Intangible assets

beginning of year $0 · end of year $484,024
17 · Accounts payable and accrued expenses

beginning of year $2,196,182 · end of year $3,188,923
19 · Deferred revenue

beginning of year $2,383,376 · end of year $2,339,472
20 · Tax-exempt bond liabilities

beginning of year $21,391,289 · end of year $20,392,740
23 · Secured mortgages and notes payable

beginning of year $4,037,105 · end of year $3,943,116
25 · Other liabilities

beginning of year $1,182,511 · end of year $1,553,650
27 · Net assets without donor restrictions

beginning of year $32,570,093 · end of year $36,796,295
28 · Net assets with donor restrictions

beginning of year $59,393,224 · end of year $66,754,658

Mission and programs · 2022

Mission

Colby-Sawyer College is a private, independent, residential, college with a mission to offer undergraduate and graduate educational programs based in the liberal arts and health, social, and natural sciences, with a focus on vocational exploration and experiential learning, which prepare students to thrive in, and make a positive impact upon a dynamic, diverse, and interdependent world. Engaged robust partnerships will support students' academic, intellectual, personal and professional growth, align with workforce development needs, and enhance individual and community well-being and resilience. Colby-Sawyer College was founded as an academy in 1837 and has been integrated in higher education since 1928.

Activities or mission (Part I)

Institute of Higher Learning

The institution offered a comprehensive, private, liberal arts education, with degrees granted at the associates, bachelors, masters and doctorate level. Traditional undergraduate students in the bachelor degree programs completed a liberal arts core and chose from nineteen majors and twenty-six minors, many of which focused on pre-professional preparation. All traditional undergraduates were required to complete at least one internship and a senior capstone project. The Class of 2022 reported a 100 percent success rate (employed or in graduate school) six months after graduation. Many of the graduate and professional programs focused on health science related fields that supported regional workforce needs. Graduate and professional programs were offered in person as well as online. Students enrolled in the traditional and graduate nursing programs completed clinical experiences at a hospital classified as a Level 1 trauma center. The institution supported all degree programs with academic support services (library, tutoring, career development) and financial assistance through gifts, grants, endowment income and college resources, which assisted students in financing the cost of their attendance.

Expenses $43,326,569 · Grants $25,692,985 · Revenue $36,647,529
Auxiliary services provided food service and facilities to students as part of a residential institution; student services provided additional support for athletics, health and counseling, student activities, and student government.

Expenses $8,037,542 · Revenue $12,945,618

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Lisa Hogarty

Chair

Total calculated

$0

Hours/week

4
Anthony H Librot

Vice Chair

Total calculated

$0

Hours/week

2
Bonita S Basnyat

Trustee

Total calculated

$0

Hours/week

2
Jourdain K P Bell

Trustee

Total calculated

$0

Hours/week

2
Steve Birge

Trustee

Total calculated

$0

Hours/week

2
Bernard N Botchway

Trustee

Total calculated

$0

Hours/week

2
Collin D Bray

Trustee

Total calculated

$0

Hours/week

2
Pamela Stanley Bright

Trustee

Total calculated

$0

Hours/week

2
Wendy Carey

Trustee

Total calculated

$0

Hours/week

2
Aimee M Claiborne

Trustee

Total calculated

$0

Hours/week

2
Deborah L Coffin

Trustee

Total calculated

$0

Hours/week

2
Edwin A Cowell

Trustee

Total calculated

$0

Hours/week

2
Thomas C Csatari

Trustee

Total calculated

$0

Hours/week

2
Mitchell E Harris

Trustee

Total calculated

$0

Hours/week

2
Ann Carroll Harris

Trustee

Total calculated

$0

Hours/week

2
Thomas W Hoyt

Trustee

Total calculated

$0

Hours/week

2
Barbara Jan-Wilson

Trustee

Total calculated

$0

Hours/week

2
Susan MacMichael John

Trustee

Total calculated

$0

Hours/week

2
Bruce King

Trustee

Total calculated

$0

Hours/week

2
Beth Constantinides Meurlin

Trustee

Total calculated

$0

Hours/week

2
William H Mitchell

Trustee

Total calculated

$0

Hours/week

2
Margaret V Mulley

Trustee

Total calculated

$0

Hours/week

2
JoAnn Franke Overfield

Trustee

Total calculated

$0

Hours/week

2
Susan Pomerantz

Trustee

Total calculated

$0

Hours/week

2
Sally Shaw Veitch

Trustee

Total calculated

$0

Hours/week

2
Andrew Lydecker

Trustee

Total calculated

$0

Hours/week

2
Susan Stuebner

President

Total calculated

$373,481

From this org

$321,152

From related orgs

$0

Other

$52,329

Hours/week

40

Schedule J breakdown matched by us

Base

$321,152

Bonus

$0

Other

$0

Deferred

$12,846

Nontaxable benefits

$39,483

Filer's total

$373,481
Karen Bonewald

VP Finance/ Treasurer

Total calculated

$175,930

From this org

$167,530

From related orgs

$0

Other

$8,400

Hours/week

40

Schedule J breakdown matched by us

Base

$167,530

Bonus

$0

Other

$0

Deferred

$6,701

Nontaxable benefits

$1,699

Filer's total

$175,930
Daniel Parish

VP Advancement

Total calculated

$193,618

From this org

$185,625

From related orgs

$0

Other

$7,993

Hours/week

40

Schedule J breakdown matched by us

Base

$185,625

Bonus

$0

Other

$0

Deferred

$7,425

Nontaxable benefits

$568

Filer's total

$193,618
Gregg Mazzola

VP Communications & Marketing

Total calculated

$176,869

From this org

$151,296

From related orgs

$0

Other

$25,573

Hours/week

40

Schedule J breakdown matched by us

Base

$151,296

Bonus

$0

Other

$0

Deferred

$6,052

Nontaxable benefits

$19,521

Filer's total

$176,869
Laura Sykes

VP Academics

Total calculated

$183,361

From this org

$157,520

From related orgs

$0

Other

$25,841

Hours/week

40

Schedule J breakdown matched by us

Base

$157,520

Bonus

$0

Other

$0

Deferred

$6,301

Nontaxable benefits

$19,540

Filer's total

$183,361
Robin Davis

VP Student Development

Total calculated

$151,799

From this org

$125,163

From related orgs

$0

Other

$26,636

Hours/week

40

Schedule J breakdown matched by us

Base

$125,163

Bonus

$0

Other

$0

Deferred

$5,007

Nontaxable benefits

$21,629

Filer's total

$151,799
Nikki Fuller

Former VP HR DEI

Total calculated

$176,013

From this org

$155,896

From related orgs

$0

Other

$20,117

Hours/week

0

Schedule J breakdown matched by us

Base

$0

Bonus

$0

Other

$155,896

Deferred

$0

Nontaxable benefits

$20,117

Filer's total

$176,013

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 · Tax indemnification and gross-up payments
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
4a · Severance or change-of-control payment

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
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a: The College provides a housing allowance for the President of the Organization, as it is required that he/she lives on campus as a part of his/her employment. Additionally, the College provides gross-up payments for moving expenses to cover the FICA and Medicare taxes for relocating employees.
Part I, Line 4a: Nikki Fuller, Former VP HR DEI, received a severance payment of $155,896 during the calendar year 2022.

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.

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.

Robert E Mulholland 2013 Charitable Remainder Unitrust

T · Charitable Remainder Unitrust · NY · 100% owned · share of assets $522,452 · controlled entity

Directly controlled by Colby-Sawyer College
The Richard N Thielen Charitable Remainder Unitrust

T · Charitable Remainder Unitrust · MA · 100% owned · share of assets $874,547 · controlled entity

Directly controlled by Colby-Sawyer College
The Mary Scheu Teach Charitable Remainder Annuity Trust

T · Charitable Remainder Unitrust · NY · 100% owned · controlled entity

Directly controlled by Colby-Sawyer College

Provenance

Return type: form_990
Tax year: 2022
Filed: 19 March 2024
IRS schema version: 2022v5.0
Source object: 202440829349300264

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

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