Albright College
- Assets
- $220.1m
- Revenue
- $65.8m
- Investments
- $13.9m
- Employees
- 984
- Location
- Reading, PA
- Founding
- 11/1934
- Data as of
- 05/2021
- EIN
- 23-1352615
Organization Overview
Albright College is located in Reading, PA. The organization was established in 1934. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Albright College employed 984 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albright 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 05/2021, Albright College generated $65.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $71.5m during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 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
PROMOTING A COMMITMENT TO LIFELONG LEARNING WITH A FOUNDATION IN THE LIBERAL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAMED A TOP NATIONAL COLLEGE BY WALL STREET JOURNAL/TIMES HIGHER EDUCATION, ALBRIGHT COLLEGE (FOUNDED 1856) IS HOME TO A DIVERSE COMMUNITY OF LEARNERS WHO CULTIVATE INTEGRITY, CURIOSITY, CONNECTION AND RESILIENCE. THROUGH LEARNING EXPERIENCES THAT ENGAGE A STUDENT'S CREATIVE AND INNOVATIVE CAPACITIES ACROSS ALL DISCIPLINES, BOTH INSIDE AND OUTSIDE OF THE CLASSROOM, AN ALBRIGHT COLLEGE EDUCATION GUARANTEES THAT EACH STUDENT LEARNS HOW TO ENGAGE THE WORLD, UNDERSTAND THE WORLD, AND IS PREPARED TO MAKE AN IMPACT ON A RAPIDLY CHANGING WORLD. LOCATED IN READING, PA., ALBRIGHT IS HOME TO UNDERGRADUATE STUDENTS, ADULT LEARNERS AND GRADUATE STUDENTS.ALBRIGHT STUDENTS ARE CHALLENGED TO SEE THE WORLD IN DIFFERENT WAYS BY PROFESSORS WHO ARE DEDICATED MENTORS AND EXPERTS IN THEIR FIELDS. AND WITH A CLOSE-KNIT COMMUNITY LIKE ALBRIGHT, PROFESSORS KNOW STUDENTS ON AN INDIVIDUAL BASIS. IN FACT, MANY STUDENTS WORK ONE-ON-ONE WITH FACULTY MENTORS THROUGH PROGRAMS LIKE THE ALBRIGHT CREATIVE RESEARCH EXPERIENCE AND FACULTY-LED TRAVEL. ALBRIGHT HAS A LONG HISTORY IN PRE-PROFESSIONAL PREPARATION, BOASTING A 90% ACCEPTANCE RATE TO MEDICAL SCHOOL.ALBRIGHT IS A SUPPORTIVE, 24/7 RESIDENTIAL COMMUNITY WITH MORE THAN 70 STUDENT GROUPS, HONOR SOCIETIES, CLUBS, GREEK LIFE AND A VARIETY OF AFFINITY HOUSES - ALL OFFERING OPPORTUNITIES FOR LEADERSHIP AND SERVICE. MORE THAN 33 PERCENT OF UNDERGRADUATES PARTICIPATE ON ALBRIGHT'S 24 VARSITY ATHLETIC TEAMS FOR WHICH THE QUALITY OF THE EDUCATIONAL EXPERIENCE AND SUCCESSFUL DEGREE COMPLETION ARE PRIORITIES. AND ALBRIGHT'S FOUR-YEAR SHARED COMMUNITY LIVING EXPERIENCE AIMS TO ENHANCE STUDENTS' SOCIAL, INTELLECTUAL AND INTERPERSONAL GROWTH, RESULTING IN BETTER GRADES AND OUTCOMES.ALBRIGHT'S SCHOOL OF PROFESSIONAL STUDIES OFFERS ACCELERATED BACHELOR'S DEGREES FOR POST-TRADITIONAL LEARNERS, ONLINE DEGREE PROGRAMS, CERTIFICATES AND MASTER'S DEGREES IN EDUCATION, BUSINESS, APPLIED PSYCHOLOGY AND ATHLETIC LEADERSHIP.AFTER GRADUATION, MEDIAN INCOME LEVELS OF ALBRIGHT ALUMNI OUTPACE THE EARNINGS OF GRADUATES FROM MOST OTHER PRIVATE AND PUBLIC COLLEGES. ALBRIGHT GRADUATES GAIN DEEP PROBLEM SOLVING SKILLS TO GO CONFIDENTLY INTO ANY CAREER AND DISCOVER THEIR FULL POTENTIAL.53% PERSONALIZE DEGREES | 83% LIVE ON CAMPUS | 41% OUT-OF-STATE STUDENTS | 97% RECEIVE FINANCIAL AID | 48% NON-WHITE | 33% STUDENT-ATHLETES | 12:1 STUDENT-FACULTY RATIO | 150+ PERSONALIZED COMBINATION OF MAJORS.RECENT ACCOLADES INCLUDE:- BEST COLLEGES IN THE NORTHEAST - PRINCETON REVIEW- TOP 14 NATIONAL LIBERAL ARTS COLLEGE PERFORMER ON SOCIAL MOBILITY - U.S. NEWS & WORLD REPORT- TOP NATIONAL LIBERAL ARTS COLLEGE - U.S. NEWS & WORLD REPORT- BEST COLLEGES FOR FINANCIAL AID - LENDEDU- TOP NATIONAL AND NORTHEAST COLLEGE - WALL STREET JOURNAL/TIMES HIGHER EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacquelyn S Fetrow PHD President | OfficerTrustee | 39.75 | $323,283 |
Wendy K Parsons Vp- Advancement | Officer | 40 | $169,556 |
Jeffrey L Strader Vp, Finance/strat. Ptn | Officer | 40 | $163,422 |
Dwayne L Walker VP - Enrollment Mgt | Officer | 40 | $162,846 |
Karen Campbell Sr. VP For Academic Affairs | Officer | 40 | $142,819 |
Samantha Wesner Sr. Vp-Stud. & Camp. Life | Officer | 40 | $129,746 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tyco Fire & Security (Us) Management In Fire And Safety | 5/30/22 | $188,032 |
Eab Global Inc Recruiting Service | 5/30/22 | $584,237 |
Weidenhammer Systems Corp It Services | 5/30/22 | $173,402 |
Kozloff Stoudt Pc Legal Services | 5/30/22 | $179,448 |
Aramark Corporation Food Svc Provider | 5/30/22 | $2,681,947 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $50,000 |
| Membership dues | $0 |
| Fundraising events | $19,539 |
| Related organizations | $0 |
| Government grants | $8,182,756 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,694,108 |
| Noncash contributions included in lines 1a–1f | $35,792 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,946,403 |
| Total Program Service Revenue | $48,748,368 |
| Investment income | $1,867,088 |
| Tax Exempt Bond Proceeds | $1,960 |
| Royalties | $532,595 |
| Net Rental Income | $588,150 |
| Net Gain/Loss on Asset Sales | $1,705,863 |
| Net Income from Fundraising Events | -$483 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,789,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,469,992 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,740,983 |
| Compensation of current officers, directors, key employees. | $1,019,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,470,583 |
| Pension plan accruals and contributions | $876,687 |
| Other employee benefits | $3,677,220 |
| Payroll taxes | $1,609,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $245,819 |
| Fees for services: Accounting | $100,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $59,556 |
| Fees for services: Other | $2,005,772 |
| Advertising and promotion | $356,559 |
| Office expenses | $895,732 |
| Information technology | $606,313 |
| Royalties | $175 |
| Occupancy | $4,350,319 |
| Travel | $110,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,594 |
| Interest | $1,053,048 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,192,360 |
| Insurance | $744,742 |
| All other expenses | $2,582,366 |
| Total functional expenses | $71,466,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,757 |
| Savings and temporary cash investments | $10,732,542 |
| Pledges and grants receivable | $3,312,098 |
| Accounts receivable, net | $1,527,270 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $328,446 |
| Prepaid expenses and deferred charges | $1,287,345 |
| Net Land, buildings, and equipment | $76,938,331 |
| Investments—publicly traded securities | $56,127,721 |
| Investments—other securities | $13,859,357 |
| Investments—program-related | $4,470,643 |
| Intangible assets | $34,586,172 |
| Other assets | $16,756,033 |
| Total assets | $220,101,715 |
| Accounts payable and accrued expenses | $10,474,595 |
| Grants payable | $2,792,214 |
| Deferred revenue | $1,120,000 |
| Tax-exempt bond liabilities | $37,134,880 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,042,530 |
| Total liabilities | $93,564,219 |
| Net assets without donor restrictions | $38,073,524 |
| Net assets with donor restrictions | $88,463,972 |
| 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 | $220,101,715 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Albright College has recieved totaling $294,235.
| Awarding Organization | Amount |
|---|---|
Henry Janssen Foundation Wyomissing, PA PURPOSE: SCIENCE RESEARCH INSTITUTE | $100,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: SPECIAL PROJECT | $49,568 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $41,336 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $32,850 |
Jewish Community Foundation Of Greater Kansas City Overland Park, KS PURPOSE: General support | $15,400 |
Henry Janssen Foundation Wyomissing, PA PURPOSE: GENERAL PURPOSE CONTRIBUTION | $10,000 |
Endowment Analysis
| Beg. Balance | $67,451,163 |
| Earnings | -$1,304,686 |
| Net Contributions | $1,103,537 |
| Other Expense | $1,298,538 |
| Grants | $2,113,872 |
| Ending Balance | $63,837,604 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
Ohio Wesleyan University Delaware, OH | $522,945,081 | $119,149,215 |
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 |
Lebanon Valley College Annville, PA | $214,348,628 | $104,612,783 |
Seton Hill University Greensburg, PA | $189,465,294 | $99,847,300 |
Wittenberg College Board Of Directors Springfield, OH | $198,135,859 | $89,178,248 |
Juniata College Huntingdon, PA | $246,892,473 | $100,031,718 |
Washington And Jefferson College Washington, PA | $317,857,588 | $82,152,318 |