Dean College
- Assets
- $113.9m
- Revenue
- $71.4m
- Investments
- $15.3m
- Employees
- 686
- Location
- Franklin, MA
- Founding
- 09/1946
- Data as of
- 05/2023
- EIN
- 04-2104149
Organization Overview
Dean College is located in Franklin, MA. The organization was established in 1946. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Dean College employed 686 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dean 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 05/2023, Dean College generated $71.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $76.0m during the year ending 05/2023. While expenses have increased by 3.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEAN COLLEGE IS A PRIVATE, RESIDENTIAL NEW ENGLAND COLLEGE GROUNDED IN A CULTURE AND TRADITION THAT ALL STUDENTS DESERVE THE OPPORTUNITY TO DISCOVER AND EXCEED THEIR GREATEST ASPIRATIONS. A PERSONAL AND TRANSFORMATIVE COMMUNITY SINCE 1865, DEAN TIRELESSLY INSPIRES OUR STUDENTS TO UNIMAGINED HEIGHTS THROUGH PERSONALIZED SUPPORT AND INTEGRATED DELIVERY OF ACADEMIC, CO-CURRICULAR AND EXPERIENTIAL LEARNING. OUR GRADUATES ARE LIFELONG LEARNERS WHO THRIVE IN THEIR CAREERS, EMBRACE SOCIAL RESPONSIBILITY AND DEMONSTRATE LEADERSHIP.
Describe the Organization's Program Activity:
INSTRUCTION: THE COLLEGE HAD FULL TIME ENROLLMENT OF 1,111 AND PART-TIME ENROLLMENT OF 73. THE STUDENTS ARE FROM ALL OVER THE UNITED STATES AND NUMEROUS FOREIGN COUNTRIES. THE COLLEGE OFFERS 18 ASSOCIATE AND 18 BACHELOR DEGREES
ACADEMIC SUPPORT: THE COLLEGE OFFERS SEVERAL ACADEMIC SUPPORT PROGRAMS INCLUDING STRUCTURED SEMESTER PROGRAMS AS WELL INDIVIDUALIZED TUTORING PROGRAMS. THE STUDENTS ALSO HAVE ACCESS TO A FULL SERVICE LIBRARY LEARNING CENTER AND ACADEMIC COMPUTING.
STUDENT SERVICES: THE COLLEGE PROVIDES THE STUDENTS WITH AN ADVISING CENTER STAFFED BY FULL TIME ADVISORS, A ONE-STOP SHOP CENTER THAT PROVIDES REGISTRATION, BILLING AND FINANCIAL AID, AN ACTIVE CAMPUS LIFE DEPARTMENT AND AN ATHLETIC PROGRAM.
AUXILIARY SERVICES: THE COLLEGE HAS 13 RESIDENTIAL FACILITIES RANGING FROM TRADITIONAL DORMITORIES, SMALL HOUSES AND APARTMENTS. THE COLLEGE ALSO OFFERS A FULL SERVICE DINING HALL FOR THE STUDENTS. APPROXIMATELY 90% OF THE STUDENTS RESIDE ON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Boyce Chairman | OfficerTrustee | 2 | $0 |
Andres Fernandez Vice Chairman | OfficerTrustee | 2 | $0 |
Jeffrey P Cohen Trustee | Trustee | 1 | $0 |
Scott Colwell Trustee | Trustee | 1 | $0 |
Michael Costa Trustee | Trustee | 1 | $0 |
Donna Cusson Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Service | 5/30/23 | $3,278,967 |
Teamops Llc Security | 5/30/23 | $1,357,139 |
Brightview Landscapes Llc Landscaping | 5/30/23 | $995,735 |
Harvard Maintenance Llc Cleaning Services | 5/30/23 | $1,212,057 |
Inhouse Physicians Testing Services | 5/30/23 | $574,207 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $68,623 |
| Related organizations | $0 |
| Government grants | $2,305,887 |
| All other contributions, gifts, grants, and similar amounts not included above | $641,888 |
| Noncash contributions included in lines 1a–1f | $77,940 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,016,398 |
| Total Program Service Revenue | $67,726,773 |
| Investment income | $771,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,651 |
| Net Gain/Loss on Asset Sales | -$82,784 |
| Net Income from Fundraising Events | $7,900 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,441,705 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,060,469 |
| Grants and other assistance to Foreign Orgs/Individuals | $181,850 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,212,173 |
| Compensation of current officers, directors, key employees. | $911,031 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,700,999 |
| Pension plan accruals and contributions | $775,786 |
| Other employee benefits | $1,567,361 |
| Payroll taxes | $1,186,048 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,357 |
| Fees for services: Accounting | $118,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,353,679 |
| Advertising and promotion | $1,831,340 |
| Office expenses | $1,242,078 |
| Information technology | $1,994,545 |
| Royalties | $0 |
| Occupancy | $5,113,371 |
| Travel | $269,916 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,827,974 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,144,271 |
| Insurance | $647,000 |
| All other expenses | $759,688 |
| Total functional expenses | $75,965,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $709,047 |
| Savings and temporary cash investments | $540,822 |
| Pledges and grants receivable | $17,025 |
| Accounts receivable, net | $863,808 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $227,064 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,191,834 |
| Net Land, buildings, and equipment | $45,417,923 |
| Investments—publicly traded securities | $47,226,220 |
| Investments—other securities | $15,254,191 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,484,415 |
| Total assets | $113,932,349 |
| Accounts payable and accrued expenses | $4,231,066 |
| Grants payable | $0 |
| Deferred revenue | $1,050,504 |
| Tax-exempt bond liabilities | $35,040,626 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,500,000 |
| Other liabilities | $6,067,994 |
| Total liabilities | $48,890,190 |
| Net assets without donor restrictions | $47,572,336 |
| Net assets with donor restrictions | $17,469,823 |
| 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 | $113,932,349 |