New England College
- Assets
- $96.2m
- Revenue
- $84.1m
- Investments
- $0.0
- Employees
- 898
- Location
- Henniker, NH
- Founding
- 06/1949
- Data as of
- 06/2022
- EIN
- 02-0223955
Organization Overview
New England College is located in Henniker, NH. The organization was established in 1949. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, New England College employed 898 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New England College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, New England College generated $84.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $78.3m during the year ending 06/2022. While expenses have increased by 6.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN INDEPENDENT LIBERAL ARTS COLLEGE OFFERING UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS.
Describe the Organization's Program Activity:
THE COLLEGE PROVIDES AN EDUCATION THAT DEVELOPS CRITICAL AND CREATIVE THINKING ABILITIES, EFFECTIVE COMMUNICATION SKILLS, AND RESPONSIBLE ACADEMIC AND SOCIAL COMMITMENTS; HISTORICAL AND COMPARATIVE UNDERSTANDING OF THE HUMANITIES, SOCIAL SCIENCES, AND NATURAL SCIENCES; RESPONSIVENESS TO ETHICAL AND HUMANE CONCERNS; RESPECT FOR GENDER, ETHNICITY, GENERATIONAL, RACIAL AND RELIGIOUS IDENTITIES, AND AN APPRECIATION FOR NATURAL ENVIRONMENTS AND WORLD CULTURES; AND A FOUNDATION FOR LIFELONG LEARNING. NEW ENGLAND COLLEGE OFFERS UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS LEADING TO THE DEGREES OF BACHELOR OF ARTS, BACHELOR OF SCIENCE, MASTER OF SCIENCE, MASTER OF EDUCATION AND A DOCTORATE IN HIGHER EDUCATION ADMINISTRATION AND K-12 LEADERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele D Perkins Edd President | OfficerTrustee | 40 | $481,013 |
Paula A Amato Cma Executive Vice President & CFO | Officer | 40 | $262,661 |
Wayne F Lesperance Provost | 40 | $258,052 | |
Richard M Mitchell Program Director | 40 | $253,336 | |
James Murtha Sr. VP Of Academic Alliances | 40 | $245,652 | |
William P Deptula Vice President Of Advancement | 40 | $216,293 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southeast Service Corporation Facilities Management | 6/29/22 | $2,068,183 |
Marist College Hosting Services | 6/29/22 | $392,660 |
Chartwell's Dining Services Food Services | 6/29/22 | $2,688,284 |
Dewing Schmid Kearns Architects And Plan Architectual Services | 6/29/22 | $221,767 |
Blenderbox Hosting Services | 6/29/22 | $193,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,613,604 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,382,185 |
| Noncash contributions included in lines 1a–1f | $75,630 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,995,789 |
| Total Program Service Revenue | $68,435,886 |
| Investment income | $402,455 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,763 |
| Net Gain/Loss on Asset Sales | $2,302,140 |
| Net Income from Fundraising Events | $10,456 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,142,963 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,097,992 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $791,584 |
| Compensation of current officers, directors, key employees. | $791,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,658,709 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,979,751 |
| Payroll taxes | $1,618,304 |
| Fees for services: Management | $197,839 |
| Fees for services: Legal | $61,686 |
| Fees for services: Accounting | $93,261 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,494 |
| Fees for services: Other | $4,885,058 |
| Advertising and promotion | $1,108,974 |
| Office expenses | $1,589,937 |
| Information technology | $1,196,360 |
| Royalties | $0 |
| Occupancy | $3,678,657 |
| Travel | $565,659 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $187,557 |
| Interest | $1,044,174 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,520,047 |
| Insurance | $15,000 |
| All other expenses | $2,456,110 |
| Total functional expenses | $78,284,222 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,281,652 |
| Savings and temporary cash investments | $7,035,809 |
| Pledges and grants receivable | $3,765,185 |
| Accounts receivable, net | $1,724,774 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,090,454 |
| Inventories for sale or use | $168,150 |
| Prepaid expenses and deferred charges | $2,284,730 |
| Net Land, buildings, and equipment | $47,252,055 |
| Investments—publicly traded securities | $26,419,565 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $800,737 |
| Other assets | $400,000 |
| Total assets | $96,223,111 |
| Accounts payable and accrued expenses | $3,912,969 |
| Grants payable | $0 |
| Deferred revenue | $1,938,295 |
| Tax-exempt bond liabilities | $27,092,645 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $89,039 |
| Unsecured mortgages and notes payable | $214,442 |
| Other liabilities | $4,507,651 |
| Total liabilities | $37,755,041 |
| Net assets without donor restrictions | $21,605,113 |
| Net assets with donor restrictions | $36,862,957 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $96,223,111 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that New England College has recieved totaling $734,286.
| Awarding Organization | Amount |
|---|---|
Davis Educational Foundation Yarmouth, ME PURPOSE: Access NEC | $225,000 |
Bisk Family Foundation Inc Tampa, FL PURPOSE: TO SUPPORT EDUCATION | $206,250 |
Gladys & Roland Harriman Foundation New York, NY PURPOSE: GENERAL SUPPORT | $125,000 |
Brown Foundation Inc Houston, TX PURPOSE: ATHLETIC CAPITAL CAMPAIGN AND ART TO BE DISPLAYED IN THE LYONS CENTER | $55,000 |
New Hampshire Charitable Foundation Concord, NH PURPOSE: For designated distribution and scholarships | $27,188 |
Hahn-Block Family Foundation Garden City, NY PURPOSE: OPERATIONAL | $20,000 |
Endowment Analysis
| Beg. Balance | $32,372,160 |
| Earnings | -$4,173,712 |
| Admin Expense | $86,494 |
| Net Contributions | $2,510,142 |
| Other Expense | $837,269 |
| Ending Balance | $29,784,827 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |
Merrimack College North Andover, MA | $325,006,014 | $259,690,431 |
Bowdoin College Brunswick, ME | $3,297,186,000 | $359,057,000 |
President & Trustees Of Colby College Waterville, ME | $1,856,024,000 | $292,366,000 |
Trustees Of Mount Holyoke College South Hadley, MA | $1,407,677,265 | $296,398,601 |
President And Trustees Of Bates College Lewiston, ME | $890,076,823 | $193,955,130 |