Reed Institute
- Assets
- $1.0b
- Revenue
- $135.5m
- Investments
- $750.4m
- Employees
- 1,688
- Location
- Portland, OR
- Founding
- 05/1938
- Data as of
- 06/2021
- EIN
- 93-0386908
Organization Overview
Reed Institute, operating under the name Reed College, is located in Portland, OR. The organization was established in 1938. 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, Reed College employed 1,688 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reed 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 06/2021, Reed College generated $135.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $129.6m during the year ending 06/2021. 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
PROVIDE EDUCATION IN THE LIBERAL ARTS AND SCIENCES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE HAD 26 RESEARCH GRANTS FUNDED WITH FEDERAL FUNDS. DEPARTMENTS FUNDED WERE BIOLOGY, CHEMISTRY, HUMANITIES, PHYSICS, PSYCHOLOGY, MATH, AND THE NUCLEAR REACTOR.
1,355 FTE STUDENTS AS OF FALL 2020, 328 DEGREES CONFERRED 20/21.
AUXILIARY SERVICES - STUDENTS LIVING IN DORMS, USING DINING FACILITIES AND BOOKSTORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Bilger President | OfficerTrustee | 40 | $548,014 |
Hugh Porter Vice President, College Relations | Officer | 40 | $489,316 |
Michael Brody VP & Dean Of Student Services | Officer | 40 | $457,650 |
Lorraine Arvin VP And Treasurer | Officer | 40 | $430,875 |
Nigel J Nicholson Dean Of The Faculty | Officer | 40 | $341,312 |
Erik Bernhardt Chief Investment Officer | 40 | $339,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eab Global Inc Enrollment Services | 6/29/21 | $844,784 |
Workwell Enterprises Llc Health Services | 6/29/21 | $1,465,200 |
Reimers & Jolivette Inc Construction | 6/29/21 | $1,250,004 |
Bon Appetit Food Service | 6/29/21 | $3,704,052 |
Orbis Cascade Alliance Library Services | 6/29/21 | $584,833 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,994,766 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,747,611 |
| Noncash contributions included in lines 1a–1f | $1,390,639 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,742,377 |
| Total Program Service Revenue | $93,997,871 |
| Investment income | -$182,601 |
| Tax Exempt Bond Proceeds | $7 |
| Royalties | $0 |
| Net Rental Income | -$28,956 |
| Net Gain/Loss on Asset Sales | $25,961,128 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $135,489,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,733,155 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,167,633 |
| Compensation of current officers, directors, key employees. | $953,676 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,919,534 |
| Pension plan accruals and contributions | $3,941,573 |
| Other employee benefits | $11,023,494 |
| Payroll taxes | $3,172,501 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $265,473 |
| Fees for services: Accounting | $130,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $40,700 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,922,533 |
| Advertising and promotion | $0 |
| Office expenses | $7,393,942 |
| Information technology | $1,639,232 |
| Royalties | $0 |
| Occupancy | $2,035,936 |
| Travel | $264,408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,838,093 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,399,524 |
| Insurance | $990,186 |
| All other expenses | $492,423 |
| Total functional expenses | $129,618,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,292 |
| Savings and temporary cash investments | $11,800,102 |
| Pledges and grants receivable | $7,714,531 |
| Accounts receivable, net | $1,289,738 |
| Loans from Officers, Directors, or Controlling Persons | $57,066 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,428,112 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $849,853 |
| Net Land, buildings, and equipment | $157,796,264 |
| Investments—publicly traded securities | $98,418,742 |
| Investments—other securities | $750,364,268 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,772,012 |
| Total assets | $1,033,562,980 |
| Accounts payable and accrued expenses | $7,557,312 |
| Grants payable | $0 |
| Deferred revenue | $2,798,082 |
| Tax-exempt bond liabilities | $104,807,408 |
| 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 | $0 |
| Other liabilities | $52,387,937 |
| Total liabilities | $167,550,739 |
| Net assets without donor restrictions | $467,957,107 |
| Net assets with donor restrictions | $398,055,134 |
| 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 | $1,033,562,980 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Reed Institute has recieved totaling $1,658,874.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $640,829 |
Gordon E And Betty I Moore Foundation Palo Alto, CA PURPOSE: TO SUPPORT A WELCOMING ACADEMIC ENVIRONMENT AND HANDS-ON RESEARCH EXPERIENCES IN THE PHYSICAL SCIENCES DEPARTMENT FOR STUDENTS FROM UNDERREPRESENTED MINORITIES. | $344,588 |
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $275,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $98,793 |
Oregon Community Foundation Portland, OR PURPOSE: Higher Education | $65,112 |
Arnold And Mabel Beckman Foundation Irvine, CA PURPOSE: RESEARCH, GENERAL SUPPORT & EDUCATION | $50,000 |
Endowment Analysis
| Beg. Balance | $545,093,997 |
| Earnings | $228,220,147 |
| Admin Expense | $940,225 |
| Net Contributions | $3,583,571 |
| Other Expense | $19,705,050 |
| Grants | $9,007,314 |
| Ending Balance | $747,245,126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Baptist University Riverside, CA | $602,706,322 | $400,113,733 |
Pomona College Claremont, CA | $3,932,260,494 | $235,119,844 |
Lewis And Clark College Portland, OR | $616,912,897 | $240,136,903 |
Claremont Mckenna College Claremont, CA | $1,751,055,641 | $321,560,955 |
Occidental College Los Angeles, CA | $902,945,083 | $157,427,095 |
Art Center College Of Design Pasadena, CA | $332,038,708 | $136,246,273 |
Whitman College Board Of Trustees Walla Walla, WA | $951,754,815 | $156,027,596 |
Reed Institute Portland, OR | $1,033,562,980 | $135,489,826 |
Linfield University Mcminnville, OR | $308,659,467 | $110,269,366 |
Westmont College Santa Barbara, CA | $328,569,320 | $121,110,665 |
Scripps College Claremont, CA | $617,457,507 | $98,616,217 |
California College Of The Arts San Francisco, CA | $203,468,162 | $107,701,190 |