Albion College
- Assets
- $280.6m
- Revenue
- $106.4m
- Investments
- $103.6m
- Employees
- 1,415
- Location
- Albion, MI
- Founding
- 06/1972
- Data as of
- 06/2020
- EIN
- 38-1359081
Organization Overview
Albion College is located in Albion, MI. The organization was established in 1972. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Albion College employed 1,415 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albion 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 06/2020, Albion College generated $106.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $113.9m during the year ending 06/2020. While expenses have increased by 4.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ALBION COLLEGE IS AN UNDERGRADUATE, LIBERAL ARTS INSTITUTION COMMITTED TO ACADEMIC EXCELLENCE. WE ARE LEARNING-CENTERED AND RECOGNIZE THAT VALUABLE LEARNING TAKES PLACE IN AND OUTSIDE OF THE CLASSROOM, ON AND OFF THE CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - ALBION COLLEGE IS A PRIVATE, SELECTIVE, COEDUCATIONAL, RESIDENTIAL INSTITUTION OF HIGHER EDUCATION AFFILIATED WITH THE UNITED METHODIST CHURCH, BUT NON-SECTARIAN IN PRACTICE. THE COLLEGE PRINCIPALLY OFFERS ACADEMIC COURSES AND PROGRAMS LEADING TO A BACHELORS DEGREE IN LIBERAL ARTS. APPROXIMATELY 1,425 STUDENTS ARE ENROLLED IN THE COLLEGE.
AUXILIARY - DINING SERVICES - ALBION COLLEGE IS A RESIDENTIAL INSTITUTION AND THE PRIMARY FUNCTION OF THE DINING AND HOSPITALITY SERVICES, MANAGED BY METZ MANAGEMENT COMPANY, IS TO PROVIDE FOOD FOR OUR STUDENTS, FACULTY, STAFF, AND GUESTS. WE STRIVE TO PROVIDE A WIDE SELECTION OF HIGH QUALITY PRODUCTS AND SERVICES THROUGH A VARIETY OF EXPERIENCES. THESE EXPERIENCES REFLECT OUR COMMITMENT TO BEING RESPONSIVE TO THE CHANGING NEEDS AND DESIRES OF OUR DIVERSE AUDIENCE. OPERATIONS INCLUDE AN ALL-YOU-CAN-EAT DINING HALL, QUICK-SERVE RESTAURANT, A COFFEE SHOP, LODGING, CATERING SERVICES, FACULTY/STAFF LUNCH BUFFET AND CONFERENCE AND EVENT SERVICES.
AUXILIARY - RESIDENCE HALLS - ALBION COLLEGE IS A COLLEGE COMMUNITY INSTITUTION THAT EMPHASIZES COMMUNITY AND INCLUSION THROUGH EDUCATION IN AND OUT OF THE CLASSROOM. ALBION COLLEGE STRIVES TO PROVIDE OUR STUDENTS WITH QUALITY HOUSING THAT ENHANCES A STUDENT'S LEARNING EXPERIENCE.
VARIOUS OTHER PROGRAM SERVICES RELATING TO THE ORGANIZATION'S MISSION. (KELLOGG CTR, CONF SERVICES, EQUESTRIAN CTR, W&G ROOM RENTAL)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert A Anderson VP Inst. Adv - Departed 1/15/21 | Officer | 25 | $234,648 |
Dr Mathew Johnson President | OfficerTrustee | 54 | $233,130 |
Deanna S Mccormick VP For Finance & Mgt - Former | 0 | $232,375 | |
Hernan M Bucheli VP For Enroll - Departed 5/31/21 | Officer | 23 | $203,372 |
Marc M Roy Provost, VP For Faculty - Former | 42 | $190,973 | |
Leroy Wright VP For Student Development | Officer | 46 | $168,203 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Ae Inc Construction Services | 6/29/21 | $987,794 |
Metz Culinary Management Food Service | 6/29/21 | $4,452,703 |
Cga Education Services Custodial Services | 6/29/21 | $833,562 |
Presidio Holding Inc Infrastructor Contractor | 6/29/21 | $800,510 |
Michael Kinder And Sons Inc Construction Services | 6/29/21 | $671,711 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,161,829 |
| Investment income | $3,025,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,497,630 |
| Net Income from Fundraising Events | -$3,223 |
| Net Income from Gaming Activities | $42,216 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $106,439,083 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $50,899,073 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,093,475 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,555,414 |
| Pension plan accruals and contributions | $2,371,415 |
| Other employee benefits | $4,444,043 |
| Payroll taxes | $2,049,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $986,622 |
| Fees for services: Accounting | $98,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $431,048 |
| Fees for services: Other | $10,590,770 |
| Advertising and promotion | $292,932 |
| Office expenses | $2,325,553 |
| Information technology | $787,035 |
| Royalties | $0 |
| Occupancy | $2,770,722 |
| Travel | $1,653,582 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $306,778 |
| Interest | $2,425,133 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,681,700 |
| Insurance | $447,649 |
| All other expenses | $0 |
| Total functional expenses | $113,852,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,577,009 |
| Pledges and grants receivable | $7,897,287 |
| Accounts receivable, net | $5,444,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,154,049 |
| Inventories for sale or use | $27,450 |
| Prepaid expenses and deferred charges | $684,103 |
| Investments—publicly traded securities | $55,338,755 |
| Investments—other securities | $103,585,563 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,811,017 |
| Total assets | $280,606,342 |
| Accounts payable and accrued expenses | $9,817,274 |
| Grants payable | $0 |
| Deferred revenue | $6,971,773 |
| Tax-exempt bond liabilities | $47,770,000 |
| 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 | $9,845,629 |
| Other liabilities | $3,014,974 |
| Total liabilities | $77,419,650 |
| 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 | $203,186,692 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Albion College has recieved totaling $406,201.
| Awarding Organization | Amount |
|---|---|
Alexander And Sarah Cutler Family Foundation Gates Mills, OH PURPOSE: GENERAL TAX-EXEMPT PURPOSES | $400,000 |
Fred H Harrison Trust Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $3,201 |
Myer & Lois Franklin Charitable Tr Jackson, MI PURPOSE: SCHOLARSHIP | $3,000 |
Endowment Analysis
| Beg. Balance | $162,423,187 |
| Earnings | $47,026,102 |
| Admin Expense | -$106,450 |
| Net Contributions | -$124,757 |
| Other Expense | $5,078,790 |
| Grants | $5,106,495 |
| Ending Balance | $199,245,697 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Denison University Granville, OH | $1,502,847,785 | $275,909,448 |
Indiana Wesleyan University Marion, IN | $535,078,455 | $212,201,058 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Hillsdale College Hillsdale, MI | $1,230,310,896 | $287,422,849 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
College Of Wooster Wooster, OH | $694,683,910 | $184,916,713 |
Hope College Holland, MI | $493,947,019 | $161,551,169 |
Ohio Northern University Ada, OH | $417,060,447 | $166,164,613 |
The Cedarville University Cedarville, OH | $257,715,774 | $182,725,706 |
Kenyon College Gambier, OH | $1,026,131,356 | $159,022,032 |
Marian University Indianapolis, IN | $323,995,376 | $176,218,802 |