Alma College
- Assets
- $241.3m
- Revenue
- $90.8m
- Investments
- $25.2m
- Employees
- 1,060
- Location
- Alma, MI
- Founding
- 02/1942
- Data as of
- 06/2022
- EIN
- 38-1359083
Organization Overview
Alma College is located in Alma, MI. 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, Alma College employed 1,060 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alma 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, Alma College generated $90.8m 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 $90.2m during the year ending 06/2022. While expenses have increased by 2.4% 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
ALMA COLLEGE'S MISSION IS TO PREPARE GRADUATES WHO THINK CRITICALLY, SERVE GENEROUSLY, LEAD PURPOSEFULLY, AND LIVE RESPONSIBLY AS STEWARDS
Describe the Organization's Program Activity:
SCHOLARSHIPS AND AWARDS TO STUDENTS OFFSET THE COST OF TUITION. INSTRUCTION PROVIDED TO STUDENTS BY HIGHLY QUALIFIED FACULTY AND ASSISTANTS. HOUSING AND FOOD SERVICE PROVIDED TO STUDENTS. ALMA COLLEGE IS A RESIDENTIAL LIBERALS ARTS COLLEGE WITH APPROXIMATELY 96% OF STUDENTS LIVING AND EATING ON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jeffrey Abernathy President | Officer | 60 | $404,091 |
Alan Gatlin Chief Operating Officer | Officer | 60 | $261,772 |
Amanda Slenski VP Of Enrollment And Special Assistant To The President | Officer | 60 | $231,391 |
Kathleen Dougherty Provost | Officer | 60 | $176,667 |
Damon Brown Vice President Of Student Affairs | Officer | 60 | $153,397 |
Kyle Warner It Director | 50 | $122,235 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Management Food Services | 6/29/22 | $3,896,896 |
Three Rivers Corporation Construction Manager | 6/29/22 | $2,567,096 |
Granger Construction Company Construction Manager | 6/29/22 | $3,725,980 |
National Management Resources Housekeeping And Grounds | 6/29/22 | $1,535,165 |
Scg Fields Llc Sports Field Construction | 6/29/22 | $1,181,040 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,698,668 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,000,276 |
| Noncash contributions included in lines 1a–1f | $127,385 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,698,944 |
| Total Program Service Revenue | $72,922,474 |
| Investment income | $3,749,586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $463 |
| Net Rental Income | $230,514 |
| Net Gain/Loss on Asset Sales | $6,118,688 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $33,139 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,838,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $39,085,717 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,407,448 |
| Compensation of current officers, directors, key employees. | $937,323 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,552,182 |
| Pension plan accruals and contributions | $1,149,915 |
| Other employee benefits | $3,894,497 |
| Payroll taxes | $1,309,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $131,022 |
| Fees for services: Accounting | $99,669 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $473,220 |
| Fees for services: Other | $1,881,845 |
| Advertising and promotion | $1,166,164 |
| Office expenses | $2,266,979 |
| Information technology | $551,790 |
| Royalties | $0 |
| Occupancy | $2,023,039 |
| Travel | $1,992,897 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200,741 |
| Interest | $1,239,757 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,911,439 |
| Insurance | $855,652 |
| All other expenses | $640,107 |
| Total functional expenses | $90,164,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,937,327 |
| Savings and temporary cash investments | $1,480,700 |
| Pledges and grants receivable | $8,503,553 |
| Accounts receivable, net | $2,789,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,047,782 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,204,905 |
| Net Land, buildings, and equipment | $91,441,367 |
| Investments—publicly traded securities | $105,847,350 |
| Investments—other securities | $25,243,260 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $802,185 |
| Total assets | $241,298,093 |
| Accounts payable and accrued expenses | $8,012,949 |
| Grants payable | $0 |
| Deferred revenue | $1,090,238 |
| Tax-exempt bond liabilities | $7,950,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $40,233,790 |
| Unsecured mortgages and notes payable | $1,215,621 |
| Other liabilities | $1,366,556 |
| Total liabilities | $59,869,154 |
| Net assets without donor restrictions | $42,618,816 |
| Net assets with donor restrictions | $138,810,123 |
| 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 | $241,298,093 |