Five Colleges Incorporated
- Assets
- $34.4m
- Revenue
- $10.4m
- Investments
- $2.0k
- Employees
- 99
- Location
- Amherst, MA
- Founding
- 04/1966
- Data as of
- 06/2022
- EIN
- 04-6134696
Organization Overview
Five Colleges Incorporated is located in Amherst, MA. The organization was established in 1966. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Five Colleges Incorporated employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Five Colleges Incorporated 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, Five Colleges Incorporated generated $10.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $9.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL CONSORTIUM TO SUSTAIN AND ENRICH THE EXCELLENCE OF ITS MEMBERS-AMHERST, HAMPSHIRE, MOUNT HOLYOKE, AND SMITH COLLEGES AND THE UNIVERSITY OF MASSACHUSETTS AMHERST-THROUGH ACADEMIC AND ADMINISTRATIVE COLLABORATION. THE CONSORTIUM FACILITATES INTELLECTUAL COMMUNITIES AND BROAD CURRICULAR AND CO-CURRICULAR OFFERINGS, AFFORDING LEARNING, RESEARCH, PERFORMANCE, AND SOCIAL OPPORTUNITIES THAT COMPLEMENT THE DISTINCTIVE QUALITIES OF EACH INSTITUTION.
Describe the Organization's Program Activity:
PROVIDES COOPERATIVE PROGRAMS SUCH AS STUDENT INTERCHANGE, LIBRARY DEPOSITORY AND OPEN BORROWING AGREEMENTS, JOINT CURRICULAR PROGRAMS, AND JOINT ADMINISTRATIVE PROGRAMS FOR THE FIVE MEMBER INSTITUTIONS (30,000 STUDENTS & FACULTY).
OPERATION OF FIBER OPTIC NETWORK TO CONNECT THE FIVE CAMPUSES WITH HIGH-SPEED BROADBAND INTERNET ACCESS (30,000 STUDENTS & FACULTY SERVED).
JOINT FACULTY APPOINTMENTS AND DEVELOPMENT (30,000 STUDENTS & FACULTY SERVED).
STUDENT SERVICES PROGRAMS: THE OPERATION OF A FARE-FREE BUS & VAN SYSTEM RUN BY PVTA (990 PART IX LINE 24 C) THAT CARRIES OVER 1,000,000 PASSENGERS ANNUALLY. THIS PRIMARILY BENEFITS STUDENTS AND FACULTY OF MEMBER INSTITUTIONS (1,000,000 RIDERS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Pfatteicher Executive Director/clerk | Officer | 40 | $262,571 |
Yvette Morneau Treasurer | Officer | 40 | $127,953 |
Ruth Rauluk Director Of Risk Managment | 40 | $121,881 | |
Maria Toyofuku Dir. Of It And Enterprise Initiatives | 40 | $107,908 | |
Raymond Rennard Director Of Academic Programs | 40 | $104,513 | |
Lashonda Pettiford Assistant Treasurer | Officer | 40 | $98,825 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cutler Associates Inc Design And Construction Services | 6/29/17 | $7,036,600 |
Csl Consulting Construction Management | 6/29/17 | $165,606 |
Ernst And Young Us Llp Management Consulting | 6/29/17 | $249,038 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $74,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,109,960 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,184,295 |
| Total Program Service Revenue | $7,706,312 |
| Investment income | $471,085 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,361,692 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $496,495 |
| Compensation of current officers, directors, key employees. | $496,495 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,125,116 |
| Pension plan accruals and contributions | $222,689 |
| Other employee benefits | $263,460 |
| Payroll taxes | $204,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,239 |
| Fees for services: Accounting | $25,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,268 |
| Fees for services: Other | $645,147 |
| Advertising and promotion | $15,943 |
| Office expenses | $247,351 |
| Information technology | $627,601 |
| Royalties | $0 |
| Occupancy | $273,096 |
| Travel | $55,003 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,469 |
| Interest | $207,694 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $613,930 |
| Insurance | $85,735 |
| All other expenses | $0 |
| Total functional expenses | $9,934,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,378,302 |
| Savings and temporary cash investments | $4,876,954 |
| Pledges and grants receivable | $41,334 |
| Accounts receivable, net | $325,049 |
| 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 | $0 |
| Net Land, buildings, and equipment | $9,886,295 |
| Investments—publicly traded securities | $15,868,962 |
| Investments—other securities | $1,976 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,378,872 |
| Accounts payable and accrued expenses | $1,797,063 |
| Grants payable | $0 |
| Deferred revenue | $824,605 |
| Tax-exempt bond liabilities | $5,960,423 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,582,091 |
| Net assets without donor restrictions | $6,735,657 |
| Net assets with donor restrictions | $19,061,124 |
| 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 | $34,378,872 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Five Colleges Incorporated has recieved totaling $1,761,614.
| Awarding Organization | Amount |
|---|---|
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE EXPANSION OF AN ACADEMIC LEADERSHIP DEVELOPMENT PILOT PROGRAM WITH A FOCUS ON DIVERSITY | $810,000 |
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE EXPANSION OF AN ACADEMIC LEADERSHIP DEVELOPMENT PILOT PROGRAM WITH A FOCUS ON DIVERSITY | $810,000 |
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE STUDY OF LESS COMMONLY TAUGHT LANGUAGES | $111,614 |
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: EDUCATION | $30,000 |
Endowment Analysis
| Beg. Balance | $17,333,683 |
| Earnings | -$2,295,132 |
| Net Contributions | $868,450 |
| Other Expense | $569,721 |
| Ending Balance | $15,337,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |
Excellence Community Schools Inc Bronx, NY | $14,097,138 | $10,250,785 |
Futures In Education Brooklyn, NY | $11,663,497 | $8,970,011 |
National Center For Hebrew Language Charter School Excellence New York, NY | $4,301,333 | $7,260,290 |