College Of Our Lady Of The Elms
- Assets
- $76.6m
- Revenue
- $46.4m
- Investments
- $7.5m
- Employees
- 694
- Location
- Chicopee, MA
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 04-2225850
Organization Overview
College Of Our Lady Of The Elms is located in Chicopee, MA. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, College Of Our Lady Of The Elms employed 694 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. College Of Our Lady Of The Elms 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 06/2021, College Of Our Lady Of The Elms generated $46.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $41.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE A DIVERSE GROUP OF STUDENTS IN A SUPPORTIVE, VIBRANT LEARNING COMMUNITY.
Describe the Organization's Program Activity:
THE COLLEGE IS DEVOTED TO EDUCATING STUDENTS IN A SUPPORTED, VIBRANT LEARNING COMMUNITY & HAS ADAPTED TO CHANGING TIMES BY DEVELOPING INNOVATIVE PROGRAMS DESIGNED TO PREPARE THEM FOR LEADERSHIP IN A WIDE VARIETY OF FIELDS. EDUCATIONAL PROGRAMS ARE OFFERED IN SEVEN DIFFERENT SESSIONS. DURING THE 2020/2021 SCHOOL YEAR, WE SERVED 1828 FULL AND PART TIME STUDENTS.
AUXILIARY SERVICES INCLUDE CAFETERIA, HEALTH CENTER, AND OTHER FACILITIES PROVIDED FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, ADJUNCT, AND STAFF. 2139 PEOPLE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Dumay President | Officer | 35 | $379,835 |
Walter Breau VP Of Academic Affairs | Officer | 35 | $181,682 |
Katie Longley VP Of Fin & Admin/treasurer | Officer | 35 | $173,425 |
Janet Williams Professor Of Biology | 36 | $153,909 | |
Kimberly Kenney-Rockwal Professor Of Business Management | 36 | $148,010 | |
Jonathan Scully VP Of Enrollment Management | 35 | $147,792 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western Builders Inc Construction Services | 6/29/21 | $1,412,105 |
Aramark Corporation Food Services | 6/29/21 | $997,045 |
Keiter Builders Inc Construction Services | 6/29/21 | $519,789 |
Wff Facility Services Facilities Services | 6/29/21 | $1,242,898 |
Ellucian Company Lp Software | 6/29/21 | $195,754 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,943,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,003,015 |
| Noncash contributions included in lines 1a–1f | $175,951 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,946,251 |
| Total Program Service Revenue | $38,071,737 |
| Investment income | $277,649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $102,800 |
| Net Gain/Loss on Asset Sales | $28,619 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,446,695 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,633,810 |
| Grants and other assistance to Foreign Orgs/Individuals | $148,439 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $801,154 |
| Compensation of current officers, directors, key employees. | $360,588 |
| Compensation to disqualified persons | $105,256 |
| Other salaries and wages | $13,011,582 |
| Pension plan accruals and contributions | $3,167 |
| Other employee benefits | $1,125,248 |
| Payroll taxes | $1,007,584 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111,468 |
| Fees for services: Accounting | $98,298 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $42,999 |
| Fees for services: Investment Management | $78,040 |
| Fees for services: Other | $388,776 |
| Advertising and promotion | $325,612 |
| Office expenses | $1,117,373 |
| Information technology | $358,795 |
| Royalties | $0 |
| Occupancy | $864,332 |
| Travel | $140,415 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $149,992 |
| Interest | $465,675 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,528,714 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $41,410,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,777,919 |
| Savings and temporary cash investments | $16,279,919 |
| Pledges and grants receivable | $2,617,494 |
| Accounts receivable, net | $672,974 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $704,738 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $562,935 |
| Net Land, buildings, and equipment | $34,684,442 |
| Investments—publicly traded securities | $11,704,754 |
| Investments—other securities | $7,524,043 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $96,836 |
| Total assets | $76,626,054 |
| Accounts payable and accrued expenses | $3,312,418 |
| Grants payable | $0 |
| Deferred revenue | $1,155,329 |
| Tax-exempt bond liabilities | $14,411,776 |
| Escrow or custodial account liability | $184,365 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $561,303 |
| Total liabilities | $19,625,191 |
| Net assets without donor restrictions | $38,475,565 |
| Net assets with donor restrictions | $18,525,298 |
| 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 | $76,626,054 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that College Of Our Lady Of The Elms has recieved totaling $496,383.
| Awarding Organization | Amount |
|---|---|
Chicopee Savings Bank Charitable Foundation Chicopee, MA PURPOSE: EXEMPT PURPOSE | $200,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $144,175 |
Chicopee Savings Bank Charitable Foundation Chicopee, MA PURPOSE: EXEMPT PURPOSE | $91,000 |
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: EDUCATION | $43,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,571 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 12/09/20 | $100 |
Endowment Analysis
| Beg. Balance | $15,832,320 |
| Earnings | $4,030,614 |
| Admin Expense | $78,040 |
| Net Contributions | $1,228,328 |
| Grants | $539,697 |
| Ending Balance | $20,473,525 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain College Inc Burlington, VT | $240,784,775 | $119,718,125 |
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Curry College Milton, MA | $220,105,546 | $116,112,495 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
Regis College Weston, MA | $109,512,086 | $107,679,867 |
St Francis College Brooklyn, NY | $411,618,421 | $89,705,791 |
Utica University Utica, NY | $156,931,603 | $105,142,781 |
College Of Mount Saint Vincent Riverdale, NY | $139,449,317 | $110,010,056 |
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |