Lafayette College
- Assets
- $1.6b
- Revenue
- $266.4m
- Investments
- $843.7m
- Employees
- 2,207
- Location
- Easton, PA
- Founding
- 12/1942
- Data as of
- 06/2022
- EIN
- 24-0795686
Organization Overview
Lafayette College is located in Easton, PA. The organization was established in 1942. 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, Lafayette College employed 2,207 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette 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 06/2022, Lafayette College generated $266.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $241.2m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF EDUCATIONAL SERVICES AS AN ACCREDITED FOUR-YEAR UNDERGRADUATE COLLEGE.
Describe the Organization's Program Activity:
LAFAYETTE COLLEGE IS A LIBERAL ARTS COLLEGE OFFERING BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN FOUR DISCIPLINES IN HUMANITIES, ENGINEERING, NATURAL SCIENCES, AND SOCIAL SCIENCES. IN FALL 2021, THE 2,725 FULL-TIME STUDENTS CAME FROM 43 STATES AND 52 COUNTRIES. THE STUDENT-TO FACULTY RATIO AT THE COLLEGE IS APPROXIMATELY 10 TO 1. OF THE 243 FULL-TIME FACULTY, 239 HOLD A DOCTORATE OR OTHER TERMINAL DEGREE. APPROXIMATELY 56% OF THE STUDENTS ATTENDING LAFAYETTE COLLEGE RECEIVE FINANCIAL ASSISTANCE. 694 STUDENTS WERE AWARDED AN UNDERGRADUATE DEGREE. LAFAYETTE COLLEGE HAS A FOUR-YEAR GRADUATION RATE OF 85% AND SIX-YEAR GRADUATION RATE OF 89%. APPROXIMATELY 91% OF THE COLLEGE'S GRADUATES WERE EMPLOYED, IN GRADUATE SCHOOL, OR SECURED INTERNSHIPS WITHIN 6 MONTHS AFTER GRADUATION.
AS A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS COMPLEMENT THEIR ACADEMIC SCHOLARSHIP WITH A MYRIAD OF OPPORTUNITIES TO CONNECT WITH ONE ANOTHER AND LEARN FROM THE LARGE WORLD REPRESENTED ON THE COLLEGE'S CAMPUS. AS PART OF THEIR EXPERIENCE AT A RESIDENTIAL COLLEGE, LAFAYETTE STUDENTS ARE DEEPLY ENGAGED ACADEMICALLY AND HAVE SIGNIFICANT OPPORTUNITIES TO ENGAGE IN A VAST OFFERING OF EXTRACURRICULAR AND CO-CURRICULAR POSSIBILITIES. LAFAYETTE COLLEGE OFFERS MORE THAN 150 STUDENT CLUBS AND ORGANIZATIONS, 23 NCAA DIVISION 1 ATHLETIC PROGRAMS, AND NUMEROUS EXPERIENCES IN THE FINE ARTS AND PERFORMING ARTS ALL OF WHICH ARE COMPLEMENTED BY A STRONG STUDENT LIFE PROGRAM THAT ENHANCES THE LAFAYETTE EXPERIENCE BEYOND THE CLASSROOM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Sell Chair | OfficerTrustee | 5 | $0 |
Linda Assante Carrasco Vice Chair | OfficerTrustee | 5 | $0 |
Angel L Mendez Secretary | OfficerTrustee | 5 | $0 |
Edward W Ahart Executive Committee | Trustee | 3 | $0 |
Samuel R Chapin Executive Committee | Trustee | 3 | $0 |
Antonio F Fernandez Executive Committee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Management Company Dining Services | 6/29/22 | $12,175,614 |
Del Valley Properties Inc Construction | 6/29/22 | $11,434,578 |
Allied Building Corp Construction | 6/29/22 | $3,414,313 |
Csi International Inc Custodial Services | 6/29/22 | $1,247,099 |
Easton Coach Company Transportation Services | 6/29/22 | $790,605 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,139 |
| Related organizations | $0 |
| Government grants | $7,545,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,387,355 |
| Noncash contributions included in lines 1a–1f | $2,642,866 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,962,079 |
| Total Program Service Revenue | $191,649,866 |
| Investment income | $7,648,654 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $280,181 |
| Net Gain/Loss on Asset Sales | $31,691,314 |
| Net Income from Fundraising Events | $8,172 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $109,527 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $266,381,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $62,919,311 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,430,379 |
| Compensation of current officers, directors, key employees. | $4,439,224 |
| Compensation to disqualified persons | $1,786,170 |
| Other salaries and wages | $66,295,539 |
| Pension plan accruals and contributions | $5,893,859 |
| Other employee benefits | $10,354,350 |
| Payroll taxes | $5,166,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $497,128 |
| Fees for services: Accounting | $265,187 |
| Fees for services: Lobbying | $4,048 |
| Fees for services: Fundraising | $19,400 |
| Fees for services: Investment Management | $578,154 |
| Fees for services: Other | $8,502,892 |
| Advertising and promotion | $138,881 |
| Office expenses | $3,324,258 |
| Information technology | $2,561,034 |
| Royalties | $0 |
| Occupancy | $8,331,663 |
| Travel | $6,495,178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,885,196 |
| Interest | $9,849,244 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,596,102 |
| Insurance | $2,692,582 |
| All other expenses | $0 |
| Total functional expenses | $241,181,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,979 |
| Savings and temporary cash investments | $84,711,315 |
| Pledges and grants receivable | $13,203,290 |
| Accounts receivable, net | $2,204,240 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $245,301 |
| Prepaid expenses and deferred charges | $3,874,236 |
| Net Land, buildings, and equipment | $411,238,801 |
| Investments—publicly traded securities | $211,665,656 |
| Investments—other securities | $843,670,466 |
| Investments—program-related | $1,719,293 |
| Intangible assets | $0 |
| Other assets | $1,493,401 |
| Total assets | $1,574,043,978 |
| Accounts payable and accrued expenses | $19,906,395 |
| Grants payable | $207,540 |
| Deferred revenue | $1,899,869 |
| Tax-exempt bond liabilities | $213,185,787 |
| Escrow or custodial account liability | $4,120,227 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $81,464,404 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,082,666 |
| Total liabilities | $372,866,888 |
| Net assets without donor restrictions | $397,255,233 |
| Net assets with donor restrictions | $803,921,857 |
| 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 | $1,574,043,978 |
Grants Awarded
Over the last fiscal year, Lafayette College has awarded $25,015 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
YALE UNIVERSITY PURPOSE: NIH GRANT | $9,924 |
BOISE STATE UNIVERSITY PURPOSE: NIH GRANT | $7,124 |
LEHIGH UNIVERSITY PURPOSE: NIH GRANT | $7,967 |