Trustees Of The College Of The Holy Cross
- Assets
- $1.3b
- Revenue
- $265.2m
- Investments
- $697.4m
- Employees
- 3,500
- Location
- Worcester, MA
- Founding
- 06/1969
- Data as of
- 06/2020
- EIN
- 04-2103558
Organization Overview
Trustees Of The College Of The Holy Cross, operating under the name College Of The Holy Cross, is located in Worcester, MA. The organization was established in 1969. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2020, College Of The Holy Cross employed 3,500 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, College Of The Holy Cross generated $265.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $261.4m during the year ending 06/2020. While expenses have increased by 3.3% per year over the past 5 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.
Since 2015, College Of The Holy Cross has awarded 33 individual grants totaling $859,259. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
COLLEGE OF THE HOLY CROSS IS A PRIVATE, JESUIT, LIBERAL ARTS COLLEGE (SEE SCHEDULE O). DEDICATED TO THE PURSUIT OF EXCELLENCE IN TEACHING, LEARNING, AND SERVICE OF FAITH AND PROMOTION OF JUSTICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PROGRAM IS UNDERGRADUATE INSTRUCTION IN THE LIBERAL ARTS THAT LEADS TO A BACHELOR OF ARTS DEGREE. THE CURRICULUM INCLUDES PROGRAMS IN THE ARTS, SCIENCES, SOCIAL SCIENCES AND HUMANITIES. SEE DETAIL ON SCHEDULE O.
BASIC RESEARCH IN CHEMISTRY, PHYSICS, PSYCHOLOGY AND BIOLOGY. THE RESEARCH IS FUNDED BY PRIVATE GRANTS AND THE US GOVERNMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dorothy A Hauver Vice President And Treasurer | Officer | 45 | $358,245 |
Timothy Jarry Chief Invest. Officer (thru 03/2020) | Officer | 45 | $351,878 |
Tracy Barlok Vice President For Advancement | Officer | 45 | $351,411 |
Margaret Freije Provost & Dean Of The College | Officer | 45 | $302,110 |
William Carmody Head Basketball Coach (thru 10/2019) | 45 | $268,172 | |
Elizabeth Small General Counsel | Officer | 45 | $255,216 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Diller Scofidio Renfro Llc Architects | 6/29/20 | $1,343,781 |
Skanska Usa Building Inc Construction Management | 6/29/20 | $736,405 |
Cannon Design Architects | 6/29/20 | $468,311 |
Holland & Knight Llp Legal Services | 6/29/20 | $405,223 |
Hirsch Roberts Weinstein Llp Investigation Services | 6/29/20 | $381,529 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $175,153 |
| Related organizations | $0 |
| Government grants | $3,690,168 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,596,444 |
| Noncash contributions included in lines 1a–1f | $19,728,741 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,461,765 |
| Total Program Service Revenue | $208,858,523 |
| Investment income | $4,907,237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $191,382 |
| Net Gain/Loss on Asset Sales | $6,858,498 |
| Net Income from Fundraising Events | -$36,100 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $265,241,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,353 |
| Grants and other assistance to domestic individuals. | $64,452,347 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,096,953 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,114,206 |
| Compensation of current officers, directors, key employees. | $2,073,592 |
| Compensation to disqualified persons | $136,617 |
| Other salaries and wages | $83,119,052 |
| Pension plan accruals and contributions | $5,023,121 |
| Other employee benefits | $17,155,064 |
| Payroll taxes | $6,644,471 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,740,951 |
| Fees for services: Accounting | $297,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $119,548 |
| Fees for services: Investment Management | $3,607,488 |
| Fees for services: Other | $4,065,871 |
| Advertising and promotion | $220,945 |
| Office expenses | $7,690,057 |
| Information technology | $3,660,831 |
| Royalties | $0 |
| Occupancy | $8,606,741 |
| Travel | $3,814,157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $605,681 |
| Interest | $6,162,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,757,737 |
| Insurance | $3,426,077 |
| All other expenses | $4,287,147 |
| Total functional expenses | $261,383,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,234 |
| Savings and temporary cash investments | $125,938,013 |
| Pledges and grants receivable | $65,130,020 |
| Accounts receivable, net | $1,497,961 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,458,808 |
| Inventories for sale or use | $559,721 |
| Prepaid expenses and deferred charges | $489,601 |
| Net Land, buildings, and equipment | $346,692,173 |
| Investments—publicly traded securities | $70,134,841 |
| Investments—other securities | $697,431,889 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,841,631 |
| Total assets | $1,320,181,892 |
| Accounts payable and accrued expenses | $39,189,138 |
| Grants payable | $0 |
| Deferred revenue | $6,364,373 |
| Tax-exempt bond liabilities | $128,928,048 |
| Escrow or custodial account liability | $847,679 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $82,500,000 |
| Other liabilities | $40,017,614 |
| Total liabilities | $297,846,852 |
| Net assets without donor restrictions | $498,847,990 |
| Net assets with donor restrictions | $523,487,050 |
| 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 | $1,320,181,892 |
Grants Awarded
Over the last fiscal year, Trustees Of The College Of The Holy Cross has awarded $75,344 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Worcester, MA PURPOSE: WORCESTER TOGETHER: CENTRAL MASS COVID-19 FUND | $30,000 |
Troy, NY PURPOSE: RESEARCH | $13,344 |
TOWN OF WEST BOYLSTON PURPOSE: PUBLIC LIBRARY SUPPORT | $12,000 |
CITY OF WORCESTER PURPOSE: YOUTH SUMMER PROGRAMS | $10,000 |
ST JOHN'S FOOD FOR THE POOR PURPOSE: FOOD BANK SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Trustees Of The College Of The Holy Cross has recieved totaling $575,178.
| Awarding Organization | Amount |
|---|---|
Magis Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $242,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $140,936 |
Raymond James Charitable Endowment Fund St Petersburg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $128,600 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $10,846 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $10,846 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $9,875 |
Endowment Analysis
| Beg. Balance | $785,851,880 |
| Earnings | $4,823,833 |
| Admin Expense | $4,495,329 |
| Net Contributions | $4,615,665 |
| Other Expense | $21,201,895 |
| Grants | $9,295,512 |
| Ending Balance | $760,298,642 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Berklee College Of Music Inc Boston, MA | $757,790,141 | $368,578,114 |
Williams College Williamstown, MA | $4,107,584,297 | $349,880,547 |
Touro College New York, NY | $558,489,117 | $321,976,604 |
Wellesley College Wellesley, MA | $2,991,368,758 | $342,459,889 |
Providence College Providence, RI | $748,292,244 | $299,300,711 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Colgate University Treasurers Office Hamilton, NY | $1,634,406,536 | $307,542,955 |
Emerson College Boston, MA | $1,047,810,953 | $281,067,638 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $863,238,815 | $294,185,810 |