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Nonprofiteer
← WELLESLEY COLLEGE

Form 990 for tax year 2024

Filed by WELLESLEY COLLEGE.

Totals

Total revenue
$486,737,193
Total expenses
$374,318,026
Contributions and grants received
$98,926,717
Grants paid
$79,030,421
Program service revenue
$205,917,971
Investment income
$179,405,620
Other revenue
$2,486,885
Total assets, end of year
$4,206,499,425
Total liabilities, end of year
$583,313,487
Net assets or fund balances, end of year
$3,623,185,938
Program services expenses (Part IX)
$288,788,871
Management and general expenses
$76,001,961
Fundraising expenses
$9,527,194
Program service expenses (Part III)
$288,788,871

Program services were 77.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Paula A Johnson

    President

    Total calculated
    $1,364,215
    From this org
    $1,201,442
    From related orgs
    $0
    Other
    $162,773
    Hours/week
    70

    Schedule J breakdown matched by us

    Base
    $761,542
    Bonus
    $0
    Other
    $439,900
    Deferred
    $36,225
    Nontaxable benefits
    $126,548
    Filer's total
    $1,364,215

  • Anne Shen Chao

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Beth C Friedman

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brian C Broderick

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Callie Crossley

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Cheryl Jenkins Haywood

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Christopher T Pasko

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Debora Hoyos

    Chair

    Total calculated
    $0
    Hours/week
    12

  • Dena Boronkay Rashes

    Trustee (As of 7/24)

    Total calculated
    $0
    Hours/week
    2

  • Dolores L Arredondo

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Douglas W Hollett

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Desmond

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth F McCormack

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Elyse Cherry

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Eplett Reilly

    Trustee (As of 7/24)

    Total calculated
    $0
    Hours/week
    2

  • Jennifer M Smith

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Julie H Jones

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Maia Heymann

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Martha Goldberg Aronson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mary Ann Tsao

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ophelia Dahl

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Patrick Lee

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Paulina Ponce de Len Barid

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Peter Tufano

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Sandra Horbach

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Sarah Jane Gunter

    Vice Chair

    Total calculated
    $0
    Hours/week
    10

  • Sophia Shaw

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Stephanie Hsieh

    Trustee (As of 7/24)

    Total calculated
    $0
    Hours/week
    2

  • Susan Harmon

    Trustee (As of 7/24)

    Total calculated
    $0
    Hours/week
    2

  • Susan Koenigsberg Lucas

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Susan Saltzbart Kilsby

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Suzanne Frey

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Tatiana Ivy Moise

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Vivian Kao

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Courtney Coile

    Provost and Dean of College (As of 7/24)

    Total calculated
    $273,513
    From this org
    $247,415
    From related orgs
    $0
    Other
    $26,098
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $246,846
    Bonus
    $0
    Other
    $569
    Deferred
    $26,098
    Nontaxable benefits
    $0
    Filer's total
    $273,513

  • Crystal Daugherty

    VP for Development & Pub. Aff. (Until 10/24)

    Total calculated
    $432,198
    From this org
    $410,993
    From related orgs
    $0
    Other
    $21,205
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $293,005
    Bonus
    $0
    Other
    $117,988
    Deferred
    $20,337
    Nontaxable benefits
    $868
    Filer's total
    $432,198

  • Deborah F Kuenstner

    Chief Investment Officer

    Total calculated
    $1,863,837
    From this org
    $1,797,310
    From related orgs
    $0
    Other
    $66,527
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $740,399
    Bonus
    $1,050,815
    Other
    $6,096
    Deferred
    $36,225
    Nontaxable benefits
    $30,302
    Filer's total
    $1,863,837

  • Marisa Jaffe

    VP for Development & Pub. Aff.

    Total calculated
    $239,439
    From this org
    $216,788
    From related orgs
    $0
    Other
    $22,651
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $216,308
    Bonus
    $0
    Other
    $480
    Deferred
    $22,651
    Nontaxable benefits
    $0
    Filer's total
    $239,439

  • Piper Orton

    VP for Fin. & Admin. & Treas.

    Total calculated
    $524,070
    From this org
    $476,000
    From related orgs
    $0
    Other
    $48,070
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $454,904
    Bonus
    $15,000
    Other
    $6,096
    Deferred
    $36,225
    Nontaxable benefits
    $11,845
    Filer's total
    $524,070

  • Megan Nunez

    Dean of Faculty Affairs

    Total calculated
    $401,893
    From this org
    $277,921
    From related orgs
    $0
    Other
    $123,972
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $258,318
    Bonus
    $15,000
    Other
    $4,603
    Deferred
    $30,097
    Nontaxable benefits
    $93,875
    Filer's total
    $401,893

  • Michael Jeffries

    Dean of Academic Aff.

    Total calculated
    $320,323
    From this org
    $266,117
    From related orgs
    $0
    Other
    $54,206
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $250,864
    Bonus
    $15,000
    Other
    $253
    Deferred
    $27,236
    Nontaxable benefits
    $26,970
    Filer's total
    $320,323

  • Sheilah Horton

    Dean of Students

    Total calculated
    $453,411
    From this org
    $327,852
    From related orgs
    $0
    Other
    $125,559
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $308,806
    Bonus
    $15,000
    Other
    $4,046
    Deferred
    $34,383
    Nontaxable benefits
    $91,176
    Filer's total
    $453,411

  • Theresa Peaches Valdes

    Dean of Admission & Stu. Fin. Svcs

    Total calculated
    $317,025
    From this org
    $277,192
    From related orgs
    $0
    Other
    $39,833
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $276,776
    Bonus
    $0
    Other
    $416
    Deferred
    $28,732
    Nontaxable benefits
    $11,101
    Filer's total
    $317,025

  • Christopher Parker

    Investment Director

    Total calculated
    $497,755
    From this org
    $404,265
    From related orgs
    $0
    Other
    $93,490
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $306,441
    Bonus
    $97,500
    Other
    $324
    Deferred
    $61,928
    Nontaxable benefits
    $31,562
    Filer's total
    $497,755

  • Karen Petrulakis

    General Counsel

    Total calculated
    $510,821
    From this org
    $441,570
    From related orgs
    $0
    Other
    $69,251
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $403,982
    Bonus
    $15,000
    Other
    $22,588
    Deferred
    $36,225
    Nontaxable benefits
    $33,026
    Filer's total
    $510,821

  • Matthew Veilleux

    Investment Director

    Total calculated
    $589,727
    From this org
    $508,384
    From related orgs
    $0
    Other
    $81,343
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $313,782
    Bonus
    $193,278
    Other
    $1,324
    Deferred
    $74,398
    Nontaxable benefits
    $6,945
    Filer's total
    $589,727

  • Ray Oquendo

    Chief Operating Officer

    Total calculated
    $1,027,967
    From this org
    $957,910
    From related orgs
    $0
    Other
    $70,057
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $519,742
    Bonus
    $435,000
    Other
    $3,168
    Deferred
    $36,225
    Nontaxable benefits
    $33,832
    Filer's total
    $1,027,967

  • Rose C Carpenter

    Deputy CIO

    Total calculated
    $1,200,520
    From this org
    $1,026,440
    From related orgs
    $0
    Other
    $174,080
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $575,960
    Bonus
    $450,000
    Other
    $480
    Deferred
    $141,105
    Nontaxable benefits
    $32,975
    Filer's total
    $1,200,520

  • Andrew Shennan

    Provost and Dean of College (Until 6/24)

    Total calculated
    $472,294
    From this org
    $413,832
    From related orgs
    $0
    Other
    $58,462
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $378,696
    Bonus
    $30,000
    Other
    $5,136
    Deferred
    $35,789
    Nontaxable benefits
    $22,673
    Filer's total
    $472,294

  • Ann Velenchik

    Former Dean of Academic Aff.

    Total calculated
    $246,252
    From this org
    $213,590
    From related orgs
    $0
    Other
    $32,662
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $204,835
    Bonus
    $0
    Other
    $8,755
    Deferred
    $22,632
    Nontaxable benefits
    $10,030
    Filer's total
    $246,252

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 · 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 · 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)

Schedule J, Part I, Line 1a Travel for companions
WELLESLEY COLLEGE'S POLICY IS THAT THE COLLEGE WILL NOT PAY FOR OR REIMBURSE TRAVEL, MEALS, AND EXPENSES OF THE SPOUSE/PARTNER OF AN EMPLOYEE WITH THE EXCEPTION OF THE PRESIDENT. SPECIFICALLY, WHILE PERFORMING HER OFFICIAL DUTIES IN THE AREA OF DEVELOPMENT, ALUMNAE RELATIONS, AND OTHER BUSINESS OF THE COLLEGE, THE PRESIDENT MAY BE ACCOMPANIED BY HER SPOUSE, WHO IS EXPECTED TO MAKE AN IMPORTANT CONTRIBUTION TO ACHIEVING THE PURPOSES OF THE TRAVEL OR EVENTS. IN THOSE CASES, THE COLLEGE'S POLICY IS TO AUTHORIZE THE PAYMENT OF ALL TRAVEL AND RELATED EXPENSES OF THE PRESIDENT'S SPOUSE, WHICH IS TREATED AS NONTAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
THE COLLEGE PROVIDES HOUSING TO CERTAIN EMPLOYEES AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE AND BENEFIT OF THE COLLEGE. THE PRESIDENT, VICE PRESIDENT AND DEAN OF STUDENTS EACH RECEIVE HOUSING. THE AMOUNT OF THIS HOUSING IS TREATED AS NONTAXABLE COMPENSATION UNDER IRC SECTION 119.
Schedule J, Part I, Line 1a Personal services
THE COLLEGE WILL NOT PAY FOR PERSONAL SERVICES WITH THE EXCEPTION OF THE PRESIDENT'S HOUSE. SINCE THE PRESIDENT'S HOUSE IS USED EXTENSIVELY FOR COLLEGE BUSINESS, HOUSEKEEPING SERVICES ARE PROVIDED FOR THE GENERAL SPACE. A CHEF PROVIDES MEALS AT THE PRESIDENT'S HOUSE FOR BUSINESS PURPOSE FUNCTIONS. PERSONAL SERVICES PROVIDED TO EMPLOYEES ARE APPROPRIATELY REPORTED AS TAXABLE COMPENSATION.
Schedule J, Part I, Line 4a Severance or change-of-control payment
Crystal Daugherty, Former VP for Development & Pub. Aff., received a severance payment of $95,738.
Schedule J, Part I, Line 7 Non-fixed payments
NONFIXED PAYMENTS EMPLOYEES IN THE INVESTMENT OFFICE HAVE AN INCENTIVE PERFORMANCE-RELATED BONUS SYSTEM BASED ON THE INVESTMENT PERFORMANCE OF THE WELLESLEY COLLEGE ENDOWMENT. TOTAL COMPENSATION IS REVIEWED IN COMPARISON TO MARKET DATA PROVIDED BY INDEPENDENT THIRD PARTIES AND APPROVED BY A COMMITTEE ON THE BOARD. EMPLOYEES OTHER THAN INVESTMENT OFFICE EMPLOYEES ARE ABLE TO RECEIVE MERIT-BASED BONUS COMPENSATION.
Schedule J, Part II, Column (B)(iii) DEFERRED COMPENSATION
THE COLLEGE MAINTAINS A NON-QUALIFIED DEFERRED COMPENSATION PLAN UNDER SECTION 457(F) FOR THE PRESIDENT. UNDER THE TERMS OF THE PLAN, THE COLLEGE WAS REQUIRED TO DISTRIBUTE A PORTION OF VESTED DEFERRED COMPENSATION TO THE PRESIDENT DURING FISCAL YEAR 2025.

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.

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.

  • WELLESLEY-IN-AIX

    501(c)(3) · EDUCATION · FR · controlled entity

    Directly controlled by WELLESLEY COLLEGE

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.

Disregarded entities

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

Related corporations and trusts

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

  • POOLED INCOME FUNDS (5)

    Trust · INVESTMENT · MA · controlled entity

  • CHARITABLE REMAINDER TRUSTS (2)

    Trust · INVESTMENT · MA · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.1
Source object
202601359349304805

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