Hobart And William Smith Colleges
- Assets
- $410.7m
- Revenue
- $162.3m
- Investments
- $83.8m
- Employees
- 1,662
- Location
- Geneva, NY
- Founding
- 07/1946
- Data as of
- 05/2020
- EIN
- 16-0743040
Organization Overview
Hobart And William Smith Colleges is located in Geneva, NY. 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 06/2022, Hobart And William Smith Colleges employed 1,662 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hobart And William Smith Colleges 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 05/2020, Hobart And William Smith Colleges generated $162.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $162.5m during the year ending 05/2020. While expenses have increased by 0.8% per year over the past 6 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 2016, Hobart And William Smith Colleges has awarded 25 individual grants totaling $1,702,267. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
HOBART AND WILLIAM SMITH COLLEGES HAVE A MISSION OF PROVIDING A STUDENT-CENTERED RESIDENTIAL LEARNING ENVIRONMENT GROUNDED IN THE VALUES OF EQUITY AND SERVICE.
Describe the Organization's Program Activity:
THE COLLEGES ARE LOCATED AT THE SHORE OF SENECA LAKE ON A 320-ACRE CAMPUS IN GENEVA, NY, THE HEART OF THE FINGER LAKES REGION. HOBART AND WILLIAM SMITH HAVE A COMBINED ENROLLMENT OF APPROXIMATELY 1,850 STUDENTS, AND 200 FULL-TIME FACULTY LINES MAINTAINING A DESIRED 9:01 STUDENT FACULTY RATIO. MORE THAN 45 MAJORS AND 68 MINORS ARE OFFERED, WHERE A STUDENT CAN OBTAIN A BACHELOR OF ARTS, BACHELOR OF SCIENCE, OR A MASTER OF ARTS IN TEACHING DEGREE. A RICH INTERDICIPLINARY PROGRAM AND LIMITLESS OPPORTUNITIES FOR SELF-DISCOVERY ARE HALLMARKS OF ACADEMICS AT THE COLLEGES. HOBART AND WILLIAM SMITH COLLEGES ARE ALSO KNOWN FOR AN AMBITIOUS EMPHASIS ON INTERNATIONAL STUDY AND PROGRAMS IN COMMUNITY ENGAGEMENT AND SERVICE-LEARNING. MORE THAN 60-PERCENT OF HOBART AND WILLIAM SMITH STUDENTS HAVE THE OPPORTUNITY TO STUDY ABROAD IN NEARLY 50 LOCATIONS AROUND THE WORLD. THE COLLEGES VIEW CIVIC RESPONSIBILITY, COMMUNITY ENGAGEMENT, AND INTERNATIONAL EDUCATION AS INTEGRAL COMPONENTS OF A LIBERAL ARTS EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce P Jacobsen President | OfficerTrustee | 50 | $476,278 |
Carolee White VP Fin&admin & Asst. Treas. | Officer | 50 | $262,332 |
Robert O'connor VP Institutional Advancement | 50 | $239,454 | |
Mary Coffey Provost | Officer | 50 | $224,604 |
Robert Flowers VP Of Campus Life | Officer | 50 | $204,672 |
Catherine Williams VP Marketing/communication | 50 | $204,207 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc And Affiliates Dining, Facilities, And Maintenance Serv | 5/30/21 | $9,799,688 |
Gallagher Student Health & Special Risk Consulting | 5/30/21 | $590,426 |
Finger Lakes Health Nursing Services | 5/30/21 | $448,762 |
Apt Acquisition And Construction Corp Construction | 5/30/21 | $427,300 |
Oracle America Inc Software Maintenance | 5/30/21 | $335,960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,122,984 |
| Investment income | $2,182,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,434 |
| Net Gain/Loss on Asset Sales | $8,222,377 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,311,021 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $54,000,935 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,105,402 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,269,860 |
| Compensation to disqualified persons | $203,405 |
| Other salaries and wages | $41,698,678 |
| Pension plan accruals and contributions | $3,497,791 |
| Other employee benefits | $8,017,022 |
| Payroll taxes | $3,081,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $545,211 |
| Fees for services: Accounting | $417,019 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $683,827 |
| Fees for services: Other | $9,126,010 |
| Advertising and promotion | $74,698 |
| Office expenses | $1,712,021 |
| Information technology | $993,035 |
| Royalties | $0 |
| Occupancy | $12,194,885 |
| Travel | $1,669,110 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $893,629 |
| Interest | $2,623,665 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,057,294 |
| Insurance | $974,581 |
| All other expenses | $0 |
| Total functional expenses | $162,452,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,337,261 |
| Pledges and grants receivable | $4,422,125 |
| Accounts receivable, net | $1,662,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,370,007 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,851,582 |
| Investments—publicly traded securities | $136,727,980 |
| Investments—other securities | $83,784,442 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,899,829 |
| Total assets | $410,660,089 |
| Accounts payable and accrued expenses | $10,267,527 |
| Grants payable | $4,494 |
| Deferred revenue | $6,599,329 |
| Tax-exempt bond liabilities | $56,760,790 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $925,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,211,283 |
| Total liabilities | $87,768,923 |
| 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 | $322,891,166 |
Grants Awarded
Over the last fiscal year, Hobart And William Smith Colleges has awarded $201,221 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF GENEVA PURPOSE: CONTRIBUTION | $191,221 |
GENEVA FIREMATICS COMMITTEE PURPOSE: CONTRIBUTION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hobart And William Smith Colleges has recieved totaling $4,100.
| Awarding Organization | Amount |
|---|---|
Scrivan Family Foundation Wilmington, DE PURPOSE: THE ENRICHMENT PROGRAM FOR THE ARTS | $4,000 |
Lahey Foundation Naples, FL PURPOSE: ENDOWMENT | $100 |
Endowment Analysis
| Beg. Balance | $204,650,152 |
| Earnings | $83,928,844 |
| Admin Expense | $246,660 |
| Net Contributions | $5,104,823 |
| Other Expense | $5,513,717 |
| Grants | $4,192,047 |
| Ending Balance | $283,731,395 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |