Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $6,608,404

• 1f · All other contributions, gifts and grants

  $68,868,337

• 1g · Noncash contributions included above

  $20,354,719

• 2a · Program service revenue: TUITION, FEES, ROOM AND BOARD

  total $163,518,320 · related or exempt $163,518,320

• 2b · Program service revenue: AUXILIARY REVENUE

  total $10,210,618 · related or exempt $6,791,521 · unrelated business $3,419,097

• 2f · All other program service revenue

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

• 3 · Investment income

  total $1,712,736 · unrelated business $12,026,894 · excluded -$10,314,158

• 6a · Gross rents

  real property $2,546,579

• 6b · Less rental expenses

  real property $3,487,749

• 6c · Rental income or loss

  real property -$941,170 · personal property $0

• 6d · Net rental income or loss

  total -$941,170 · excluded -$941,170

• 7a · Gross sales of assets other than inventory

  securities $690,605,850 · other assets $1,708,092

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

  securities $516,961,334 · other assets $1,233,988

• 7c · Gain or loss

  securities $173,644,516 · other assets $474,104

• 7d · Net gain or loss

  total $174,118,620 · unrelated business $6,323,253 · excluded $167,795,367

• 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 $286,464 · program services $286,464

• 2 · Grants to domestic individuals

  total $64,622,747 · program services $64,622,747

• 3 · Grants to foreign organizations and individuals

  total $817,085 · program services $817,085

• 5 · Compensation of officers, directors and key employees

  total $3,841,228 · program services $1,105,979 · management and general $1,683,911 · fundraising $1,051,338

• 6 · Compensation of disqualified persons

  total $312,172 · program services $233,961 · management and general $78,211

• 7 · Other salaries and wages

  total $119,131,095 · program services $99,994,052 · management and general $14,655,725 · fundraising $4,481,318

• 8 · Pension plan contributions

  total $9,619,011 · program services $8,035,699 · management and general $1,223,890 · fundraising $359,422

• 9 · Other employee benefits

  total $21,268,501 · program services $18,043,478 · management and general $2,568,195 · fundraising $656,828

• 10 · Payroll taxes

  total $8,444,747 · program services $7,054,721 · management and general $1,074,481 · fundraising $315,545

• 11b · Fees: legal

  total $227,430 · program services $939 · management and general $226,491

• 11c · Fees: accounting

  total $318,433 · program services $10,403 · management and general $305,970 · fundraising $2,060

• 11d · Fees: lobbying

  total $57,154 · program services $47,746 · management and general $7,272 · fundraising $2,136

• 11g · Fees: other

  total $15,600,158 · program services $13,172,027 · management and general $1,960,421 · fundraising $467,710

• 12 · Advertising and promotion

  total $242,284 · program services $105,685 · management and general $134,476 · fundraising $2,123

• 13 · Office expenses

  total $10,306,609 · program services $9,671,229 · management and general $539,064 · fundraising $96,316

• 14 · Information technology

  total $3,728,178 · program services $2,619,620 · management and general $984,623 · fundraising $123,935

• 16 · Occupancy

  total $8,385,988 · program services $7,701,485 · management and general $458,617 · fundraising $225,886

• 17 · Travel

  total $7,586,607 · program services $6,793,129 · management and general $459,882 · fundraising $333,596

• 19 · Conferences, conventions and meetings

  total $249,390 · program services $203,756 · management and general $32,748 · fundraising $12,886

• 20 · Interest

  total $10,124,582 · program services $8,458,052 · management and general $1,288,217 · fundraising $378,313

• 22 · Depreciation, depletion and amortization

  total $37,240,882 · program services $32,686,971 · management and general $3,091,882 · fundraising $1,462,029

• 23 · Insurance

  total $2,058,782 · program services $28,829 · management and general $2,029,826 · fundraising $127

• 24a · Other expenses: FELLOWSHIPS, STUDENT PRIZES

  total $4,890,587 · program services $4,851,234 · management and general $39,353

• 24b · Other expenses: EQUIPMENT RENTAL & maintenance

  total $8,219,108 · program services $7,383,910 · management and general $801,937 · fundraising $33,261

• 24c · Other expenses: NON CAPPED PLANT EXPENSES

  total $7,708,703 · program services $6,439,832 · management and general $980,829 · fundraising $288,042

• 24d · Other expenses: STUDENT ASSISTANCE

  total $11,754,065 · program services $11,754,065

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $34,553,578 · end of year $49,938,522

• 2 · Savings and temporary cash investments

  beginning of year $58,707,500 · end of year $62,626,371

• 3 · Pledges and grants receivable

  beginning of year $51,311,460 · end of year $59,331,322

• 4 · Accounts receivable

  beginning of year $3,427,077 · end of year $2,485,737

• 5 · Loans and receivables from officers and key people

  beginning of year $115,427 · end of year $159,736

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $13,758,901 · end of year $13,882,945

• 8 · Inventories for sale or use

  beginning of year $304,234 · end of year $356,484

• 9 · Prepaid expenses and deferred charges

  beginning of year $18,330,821 · end of year $15,902,445

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

  $1,255,258,040

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

  $563,110,441

• 10c · Land, buildings and equipment, net

  beginning of year $699,285,267 · end of year $692,147,599

• 11 · Investments: publicly traded securities

  beginning of year $41,338,940 · end of year $41,006,656

• 12 · Investments: other securities

  beginning of year $3,925,302,691 · end of year $3,865,198,337

• 13 · Investments: program-related

  beginning of year $1,163,477 · end of year $878,985

• 15 · Other assets

  beginning of year $14,050,794 · end of year $15,930,733

• 17 · Accounts payable and accrued expenses

  beginning of year $71,946,455 · end of year $69,035,528

• 19 · Deferred revenue

  beginning of year $1,618,657 · end of year $1,460,335

• 20 · Tax-exempt bond liabilities

  beginning of year $401,606,801 · end of year $372,756,585

• 21 · Escrow or custodial account liability

  beginning of year $59,673,636 · end of year $56,578,663

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $460,583,272 · end of year $446,694,223

• 27 · Net assets without donor restrictions

  beginning of year $619,642,008 · end of year $641,038,401

• 28 · Net assets with donor restrictions

  beginning of year $3,246,579,338 · end of year $3,232,282,137

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE PRESIDENT TRAVELED FIRST CLASS ON A BUSINESS TRIP. THIS AMOUNT WAS NOT REPORTED AS TAXABLE COMPENSATION.

Schedule J, Part I, Line 1a Travel for companions

THE BOARD OF TRUSTEES AUTHORIZED ONE LISTED OFFICER'S SPOUSE TO ACCOMPANY THE OFFICER ON VARIOUS COLLEGE BUSINESS TRIPS WHERE THE SPOUSE PARTICIPATED IN ALUMNI RELATIONS AND DEVELOPMENT EVENTS. The amounts were not reported as taxable compensation as deemed for qualified business purpose.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE PRESIDENT WAS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF THEIR EMPLOYMENT AND FOR THE CONVENIENCE OF WILLIAMS. Pursuant to section 119, the housing is excludable from income and was not treated as taxable compensation. ONE LISTED OFFICER RECEIVED A TAXABLE HOUSING ALLOWANCE. THE VALUE OF THE ALLOWANCE IS IMPUTED AS INCOME AND REPORTED ON FORM W-2. THE VALUE OF THE ALLOWANCE IS INCLUDED IN PART II, COLUMN B(III).

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

WILLIAMS PAID DUES FOR A PRIVATE ALUMNI CLUB FOR THE PRESIDENT. THE AMOUNTS were paid for qualified business purposes and not REPORTED AS TAXABLE COMPENSATION.

Schedule J, Part I, Line 1a Personal services

THE PRESIDENT RECEIVED CERTAIN PERSONAL SERVICES PROVIDED AT THEIR HOUSE. SUCH SERVICES THAT WERE NOT BUSINESS RELATED WERE REPORTED AS TAXABLE COMPENSATION ON FORM W-2. THE VALUE OF THE SERVICES IS INCLUDED IN PART II, COLUMN B(III).

Schedule J, Part I LINE 4B AND LINE 7

MEMBERS OF THE INVESTMENT OFFICE STAFF ARE ELIGIBLE TO RECEIVE AN ANNUAL BONUS UP TO A CERTAIN PERCENTAGE OF THEIR BASE SALARY. THE BONUS IS DETERMINED BY THE PERFORMANCE OF THE INVESTMENT PORTFOLIO IN RELATION TO THE PERFORMANCE OF THE POLICY BENCHMARK. THE POLICY BENCHMARK IS ESTABLISHED BY THE INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES. THE BONUS IS PAID OUT OVER TIME, REQUIRES THE INDIVIDUAL TO REMAIN EMPLOYED IN ORDER TO BE ELIGIBLE TO RECEIVE PAYMENT, AND IS SUBJECT TO NEGATIVE EARNINGS PROVISIONS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• WILLIAMS INN LLC

  HOTEL · MA · income $7,189,031 · assets $797,759

  Directly controlled by WILLIAMS COLLEGE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• POOLED INCOME FUNDS (3)

  Trust · FUNDRAISING · MA · controlled entity

  Directly controlled by WILLIAMS COLLEGE

• PERPETUAL TRUSTS (5)

  Trust · FUNDRAISING · MA · controlled entity

  Directly controlled by WILLIAMS COLLEGE

• CHAR REM TRUSTS (23) SEE PART VII

  Trust · FUNDRAISING · controlled entity

  Directly controlled by WILLIAMS COLLEGE

• BERMAN INC

  C Corporation · Art · UT · 100% owned · share of income $0 · share of assets $315,500 · controlled entity

  Directly controlled by WILLIAMS COLLEGE

• OUTSIDE CHAR REM TRSTS (44)

  Trust · FUNDRAISING · controlled entity

• WILLIAMS RENEWABLES LLC

  C Corporation · RENEWABLE ENERGY · MA · 100% owned · share of income -$119,137 · share of assets $2,118,694 · controlled entity

  Directly controlled by WILLIAMS COLLEGE