Elderhostel Inc
- Assets
- $135.1m
- Revenue
- $25.8m
- Investments
- $1.8m
- Employees
- 359
- Location
- Boston, MA
- Founding
- 04/1978
- Data as of
- 06/2021
- EIN
- 04-2632526
Organization Overview
Elderhostel Inc, operating under the name Road Scholar, is located in Boston, MA. The organization was established in 1978. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 06/2022, Road Scholar employed 359 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Road Scholar 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, Road Scholar generated $25.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (29.3%) each year. All expenses for the organization totaled $37.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (25.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ELDERHOSTEL INC., DOING BUSINESS AS ROAD SCHOLAR, SPONSORS, ARRANGES OR CONDUCTS EDUCATIONAL PROGRAMS AROUND THE WORLD PRIMARILY FOR ADULTS AGE 55 AND OLDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROAD SCHOLAR'S UNIQUE LIBERAL ARTS EDUCATIONAL PROGRAMS IN THE UNITED STATES AND CANADA (RANGING IN LENGTH FROM FOUR DAYS TO THREE WEEKS FOR ON-SITE PROGRAMS, AND ONE TO FIVE DAYS FOR ON-LINE PROGRAMS AND LECTURES), PROVIDE A STIMULATING ACADEMIC EXPERIENCE EXPLORING THE ARTS, LITERATURE, SCIENCES, HISTORY, CULTURE, AND ENVIRONMENT OF NORTH AMERICA. SOME PROGRAMS PROVIDE COMMUNITY SERVICE AND OTHERS ARE DESIGNED TO BE MULTI-GENERATIONAL, ALLOWING GRANDCHILDREN, OR ADULT CHILDREN AND THEIR CHILDREN, TO ATTEND. ROOM AND BOARD ARE INCLUDED IN THE COST OF UNITED STATES AND CANADA PROGRAMS. IN FISCAL YEAR 2022, 32,208 ENROLLEES PARTICIPATED IN ON-SITE PROGRAMS; AND 32,128 ENROLLEES PARTICIPATED IN VIRTUAL, WEB-BASED PROGRAMS AND LECTURES.
ROAD SCHOLAR'S EDUCATIONAL PROGRAMS HELD OUTSIDE THE UNITED STATES AND CANADA (RANGING IN LENGTH FROM ONE TO SIX WEEKS OR MORE FOR ON-SITE PROGRAMS, AND ONE TO FIVE DAYS FOR ON-LINE PROGRAMS) PROVIDE A STIMULATING ACADEMIC EXPERIENCE INTRODUCING PARTICIPANTS TO THE ARTS, HISTORY, LITERATURE, CULTURE, ARCHITECTURE AND NATURAL ENVIRONMENT OF THEIR LOCATIONS. THEY ARE DESIGNED TO FURTHER CROSS-CULTURAL UNDERSTANDING BY FORGING DIRECT CONNECTIONS BETWEEN PARTICIPANTS AND LOCAL RESIDENTS, EXPERTS AND LECTURERS. COMMUNITY SERVICE AND MULTI-GENERATIONAL PROGRAMS ARE ALSO OFFERED. ROOM, BOARD AND IN MOST CASES AIRFARE ARE INCLUDED IN THE COST OF PROGRAMS HELD OUTSIDE THE UNITED STATES. IN FISCAL YEAR 2022, 11,216 ENROLLEES PARTICIPATED IN ON-SITE PROGRAMS; 4,387 ENROLLEES PARTICIPATED IN VIRTUAL, WEB-BASED PROGRAMS AND LECTURES.
ROAD SCHOLAR'S ADVENTURES AFLOAT PROGRAMS (RANGING IN LENGTH FROM ONE WEEK TO FOUR MONTHS) ARE SHIP-BASED LEARNING ADVENTURES THAT ALLOW PARTICIPANTS TO EXPERIENCE THE EDUCATIONAL WONDERS OF BROAD REGIONS INTERCONNECTED BY THE WORLD'S OCEANS AND WATERWAYS. EXPERTS AND PROFESSORS PROVIDE STIMULATING EDUCATIONAL PROGRAMS ON BOARD, WHICH ARE ENHANCED BY FIELDTRIPS TO EXPERIENCE THE CULTURE OF LOCAL COMMUNITIES THROUGH RELATED LAND COMPONENTS AND LECTURES. MULTI-GENERATIONAL PROGRAMS ARE OFFERED, AND ROOM AND BOARD ARE INCLUDED IN THE COST, AS IS AIRFARE FOR MOST PROGRAMS OUTSIDE THE UNITED STATES. IN FISCAL YEAR 2022, 4,299 ENROLLEES PARTICIPATED IN ON-BOARD PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Moses President & CEO | Officer | 40 | $955,334 |
Lowell Partridge Ass't Treasurer & CFO | Officer | 40 | $275,899 |
Mary Marks Senior Vp, Revenue Management | Officer | 40 | $246,388 |
Eric Bird Chief Operating Officer | Officer | 40 | $223,357 |
Stuart Burke Vp, Program Accounting And Former Clerk | 40 | $222,185 | |
Maeve Hartney Chief Programs Officer | Officer | 40 | $198,635 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northern Arizona University Arrange & Conduct Edu Pgms | 6/29/22 | $1,859,026 |
Holbrook Travel Inc Arrange & Conduct Edu Pgms | 6/29/22 | $2,654,726 |
Center For Educational Advn Arrange & Conduct Edu Pgms | 6/29/22 | $2,578,970 |
G Adventures Inc Arrange & Conduct Edu Pgms | 6/29/22 | $1,961,055 |
Black Hills Ed Inst Arrange & Conduct Edu Pgms | 6/29/22 | $1,766,727 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,076,680 |
| Investment income | $1,303,826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $117,861 |
| Net Rental Income | $215,035 |
| Net Gain/Loss on Asset Sales | $14,771,306 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,807,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,247 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,709,965 |
| Compensation to disqualified persons | $186,098 |
| Other salaries and wages | $11,816,483 |
| Pension plan accruals and contributions | $724,777 |
| Other employee benefits | $2,425,330 |
| Payroll taxes | $956,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,657 |
| Fees for services: Accounting | $81,634 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $174,547 |
| Fees for services: Other | $713,300 |
| Advertising and promotion | $293,173 |
| Office expenses | $589,565 |
| Information technology | $2,909,150 |
| Royalties | $0 |
| Occupancy | $865,016 |
| Travel | $1,024 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,325 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,898,821 |
| Insurance | $248,076 |
| All other expenses | $0 |
| Total functional expenses | $37,131,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $451,159 |
| Savings and temporary cash investments | $20,998,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,020,399 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,016,033 |
| Investments—publicly traded securities | $96,948,275 |
| Investments—other securities | $1,842,767 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,390,285 |
| Total assets | $135,068,845 |
| Accounts payable and accrued expenses | $4,575,385 |
| Grants payable | $0 |
| Deferred revenue | $88,788,649 |
| Tax-exempt bond liabilities | $0 |
| 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 | $4,887,586 |
| Other liabilities | $2,425,161 |
| Total liabilities | $100,676,781 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $34,392,064 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Elderhostel Inc has recieved totaling $82,480.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $62,240 |
Aarp Washington, DC PURPOSE: General support | $20,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $140 |
Xcel Energy Foundation Minneapolis, MN PURPOSE: MATCHING EMPLOYEE DONATION | $100 |
Endowment Analysis
| Beg. Balance | $31,796,769 |
| Earnings | -$2,369,998 |
| Admin Expense | -$13,460 |
| Net Contributions | -$15,203,880 |
| Other Expense | $1,422,352 |
| Grants | $81,030 |
| Ending Balance | $12,732,969 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westchester Country Club Inc Rye, NY | $77,553,664 | $42,480,746 |
Elderhostel Inc Boston, MA | $135,068,845 | $25,807,817 |
Yale Club Of New York City New York, NY | $50,588,779 | $20,944,634 |
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |