Civic Intelligence

Magdalen College

990 • Fiscal year 2016 • EIN 02-0309681

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 18, 2016

511 Kearsarge Mountain RoadWarner, NH 03278-9206

(603) 456-2656

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

1.07x

Higher debt load relative to assets than 92% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

87th percentile

1.36x

Higher debt load relative to revenue than 87% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

29th percentile

-4.7%

Higher net margin than 29% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

66th percentile

$93,880

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

17th percentile

-7.1%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

82nd percentile

28%

Faster revenue growth than 82% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$4,172,048

Down $318,758 (-7.1%) from 2015

Net Assets

Down

-$273,986

Down $188,453 (-220%) from 2015

Liabilities

Down

$4,446,034

Down $130,305 (-2.8%) from 2015

Revenue

Up

$3,274,938

Up $717,832 (+28%) from 2015

Expenses

Up

$3,429,303

Up $629,215 (+22%) from 2015

Net Income

Up

-$154,365

Up $88,617 (+36%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $5,175,599Liabilities 2011: $1,817,294Net Assets 2011: $3,358,3052011Assets 2012: $4,761,370Liabilities 2012: $2,583,885Net Assets 2012: $2,177,4852012Assets 2013: $4,881,072Liabilities 2013: $3,937,962Net Assets 2013: $943,1102013Assets 2014: $4,649,278Liabilities 2014: $4,447,355Net Assets 2014: $201,9232014Assets 2015: $4,490,806Liabilities 2015: $4,576,339Net Assets 2015: -$85,5332015Assets 2016: $4,172,048Liabilities 2016: $4,446,034Net Assets 2016: -$273,9862016Assets 2017: $4,806,800Liabilities 2017: $4,519,857Net Assets 2017: $286,9432017Assets 2018: $5,284,099Liabilities 2018: $4,357,105Net Assets 2018: $926,9942018Assets 2019: $5,408,137Liabilities 2019: $4,207,599Net Assets 2019: $1,200,5382019Assets 2020: $4,719,351Liabilities 2020: $4,347,458Net Assets 2020: $371,8932020Assets 2021: $4,332,325Liabilities 2021: $3,976,133Net Assets 2021: $356,1922021Assets 2022: $4,581,565Liabilities 2022: $3,933,870Net Assets 2022: $647,6952022Assets 2023: $3,658,951Liabilities 2023: $3,774,668Net Assets 2023: -$115,7172023Assets 2024: $91,100Liabilities 2024: $28,969Net Assets 2024: $62,1312024Assets 2025: $10,899Liabilities 2025: $0Net Assets 2025: $10,8992025

Highlighted filing

2016

Assets$4,172,048
Liabilities$4,446,034
Net Assets-$273,986

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,369,2202011Expenses 2012: $2,594,2422012Revenue 2013: $1,541,471Expenses 2013: $2,742,543Net Income 2013: -$1,201,0722013Revenue 2014: $1,643,913Expenses 2014: $2,364,783Net Income 2014: -$720,8702014Revenue 2015: $2,557,106Expenses 2015: $2,800,088Net Income 2015: -$242,9822015Revenue 2016: $3,274,938Expenses 2016: $3,429,303Net Income 2016: -$154,3652016Revenue 2017: $4,248,259Expenses 2017: $3,669,846Net Income 2017: $578,4132017Revenue 2018: $3,945,076Expenses 2018: $3,311,761Net Income 2018: $633,3152018Revenue 2019: $3,830,920Expenses 2019: $3,539,758Net Income 2019: $291,1622019Revenue 2020: $3,632,564Expenses 2020: $4,437,684Net Income 2020: -$805,1202020Revenue 2021: $3,478,651Expenses 2021: $3,505,934Net Income 2021: -$27,2832021Revenue 2022: $4,198,746Expenses 2022: $3,847,635Net Income 2022: $351,1112022Revenue 2023: $2,671,615Expenses 2023: $3,422,721Net Income 2023: -$751,1062023Revenue 2024: $3,605,649Expenses 2024: $3,427,801Net Income 2024: $177,8482024Revenue 2025: $50,582Expenses 2025: $101,814Net Income 2025: -$51,2322025

Highlighted filing

2016

Revenue$3,274,938
Expenses$3,429,303
Net Income-$154,365
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 18, 2016
Return Version
2015v2.1
Gross Receipts
$3,288,388
Mission and Program Overview

Mission

Organization is a four-year liberal arts college, offering associate of arts and bachelor of arts degrees in liberal studies. Mission is to create and govern a roman catholic institution of higher learning, pursuant to the principles as set forth in the apostolic constitution on catholic universities of pope john paul ii. Its mission is accomplished through an integrated and ordered common life, directed by catholic principles and grounded in the socratic pedagogical method of inquiry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,587,161$3,362,800▼ $224,361
Other Notes and Loans Receivable, Net$349,260$357,396▲ $8,136
Loans From Officers Directors$273,000$323,000▲ $50,000
Cash and Non-Interest-Bearing Accounts$356,927$305,603▼ $51,324
Investments in Publicly Traded Securities$122,509$116,835▼ $5,674
Savings and Temporary Cash Investments$50,985--
Accounts Receivable$23,964$29,414▲ $5,450
Total Assets$4,490,806$4,172,048▼ $318,758
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,291,525$3,625,625▲ $334,100
Other Liabilities$847,280$322,222▼ $525,058
Accounts Payable and Accrued Expenses$96,152$119,272▲ $23,120
Deferred Revenue$68,382$55,915▼ $12,467
Total Liabilities$4,576,339$4,446,034▼ $130,305
Net Assets / Fund Balance
Temporarily Rstr Net Assets$59,961$88,897▲ $28,936
Permanently Rstr Net Assets$6,836$6,836→ $0
Unrestricted Net Assets$-152,330$-369,719▼ $217,389
Total Net Assets Fund Balance$-85,533$-273,986▼ $188,453
Total Liabilities and Net Assets / Fund Balance$4,490,806$4,172,048▼ $318,758

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,031,045$4,503,295$7,534,340
Equipment$73,280$672,378$745,658
Land$258,475-$258,475

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$6,836---$6,836
2014$6,836---$6,836
2013$6,836---$6,836
2012$6,836---$6,836
2011$6,836---$6,836
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
George a HarnePresident/trFT$75,000$18,880$93,880
R Daniel PetersonTreasurer/coFT$72,500-$72,500
Peter SampoTrustee-$40,000-$40,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,021,510
Program Service Revenue
$2,173,190
Investment Income
$13,822
Other Revenue
$66,416
All Other Contributions
$1,021,510
Change in Net Assets
$-154,365

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,088,144
Revenue Not Reported on Financial Statements
$1,186,794
Revenue Not Reported on Form 990
$-34,088
Other Revenue Adjustments
$1,186,794
Total Revenue per Audited Statements
$2,054,056
Total Revenue per Form 990
$3,274,938
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,186,794
Other Expenses$1,178,726
Salaries, Compensation, and Employee Benefits$1,063,783
Total Fundraising Expense$144,025
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,186,794--$1,186,794
Other Salaries and Wages$581,070$65,126$110$646,306
Depreciation Depletion$224,361--$224,361
Current Officers, Directors, Trustees, and Key Employees$40,000$147,500-$187,500
Other Employee Benefits$143,182$9,729-$152,911
All Other Expenses$92,535$10,711$49,300$152,546
Interest-$141,273-$141,273
Occupancy$101,468--$101,468
Fees for Services Other$19,549$50,073$28,674$98,296
Office Expenses$16,078$12,482$39,056$67,616
Payroll Taxes$47,553$16,187$8$63,748
Insurance-$54,600-$54,600
Travel$20,282$16,959$7,712$44,953
Other Expenses$19,903$10,621$5,098$35,622
Advertising$11,055$1,655$5,315$18,025
Pension Plan Contributions$12,060$1,258-$13,318
Fees for Services Accounting-$13,034-$13,034
Conferences and Meetings$3,930$6,177-$10,107
Fees for Services Legal-$930-$930
Total Functional Expenses$2,726,933$558,345$144,025$3,429,303

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,429,303
Expenses per Audited Statements$2,242,509
Total Expenses per Audited Statements$2,242,509
Expenses Not Reported on Financial Statements$1,186,794
Other Expense Adjustments$1,186,794
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$273,000$323,000▲ $50,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Annuity Obligation$268,401
Charitable Gift Annuity$53,821
Line of Credit-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The return is reviewed and approved by the finance committee and then forwarded to the full board of trustees for final review and approval.

Form 990, Page 6, Part VI, Line 12C

The board reviews conflict of interest compliance at each board meeting

Form 990, Page 6, Part VI, Line 15A

The president and all key employees are members of the faculty and are paid on the faculty salary scale with no adjustments for their position. The faculty scale's are reviewed and approved annually by the board of trustees.

Form 990, Page 6, Part VI, Line 19

The college makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Magdalen College
EIN
02-0309681
Phone
6034562656
Address
511 KEARSARGE MOUNTAIN ROAD, WARNER, NH 03278-9206
Doing Business As
Northeast Catholic College

Signing Officer

Name
George a Harne
Title
President/trustee
Phone
6034562656
Signed
2016-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George a Harne
Formed
1973
Legal Domicile
Nh
Voting Board Members
12
Independent Board Members
11
Employees
40

Preparer

Firm
Hession & Pare Pc
Address
62 STARK STREET, MANCHESTER, NH 03101-1970
Preparer
John a Hession CPA
Phone
6036695477
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Organization is a four-year liberal arts college, offering associate of arts and bachelor of arts degrees in liberal studies. Mission is to create and govern a roman catholic institution of higher learning, pursuant to the principles as set forth in the apostolic constitution on catholic universities of pope john paul ii. Its mission is accomplished through an integrated and ordered common life, directed by catholic principles and grounded in the socratic pedagogical method of inquiry.

Form 990, Part XI, Line 9

Change in pension liability -23,765 change in gift annuity obligations -3,234 scholarships netted against income on financial statement -1,186,794 scholarships netted against income on financial statement 1,186,794 total -26,999

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

These funds will be used to support the college's mission of offering associate and bachelor of arts degrees.

Schedule D, Page 4, Part XI, Line 2D

Change in pension liability -23,765 change in gift annuity obligations -3,234

Schedule D, Page 4, Part XI, Line 4B

Scholarships netted against income on financial statement 1,186,794

Schedule D, Page 4, Part XII, Line 4B

Scholarships netted against income on financial statement 1,186,794

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IRS990/MissionDesc0ORGANIZATION IS A FOUR-YEAR LIBERAL ARTS COLLEGE, OFFERING ASSOCIATE OF ARTS AND BACHELOR OF ARTS DEGREES IN LIBERAL STUDIES. MISSION IS TO CREATE AND GOVERN A ROMAN CATHOLIC INSTITUTION OF HIGHER LEARNING, PURSUANT TO THE PRINCIPLES AS SET FORTH IN THE APOSTOLIC CONSTITUTION ON CATHOLIC UNIVERSITIES OF POPE JOHN PAUL II. ITS MISSION IS ACCOMPLISHED THROUGH AN INTEGRATED AND ORDERED COMMON LIFE, DIRECTED BY CATHOLIC PRINCIPLES AND GROUNDED IN THE SOCRATIC PEDAGOGICAL METHOD OF INQUIRY.
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0143182
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0152911
IRS990/OtherExpensesGrp/Desc0FOOD SERVICES
IRS990/OtherExpensesGrp/Desc1PROPERTY AND OTHER TAX
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTION
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
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IRS990/OtherExpensesGrp/FundraisingAmt15098
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt030
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IRS990/OtherExpensesGrp/ProgramServicesAmt148252
IRS990/OtherExpensesGrp/ProgramServicesAmt236322
IRS990/OtherExpensesGrp/ProgramServicesAmt319903
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IRS990/PrincipalOfficerNm0GEORGE A HARNE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THESE FUNDS WILL BE USED TO SUPPORT THE COLLEGE'S MISSION OF OFFERING ASSOCIATE AND BACHELOR OF ARTS DEGREES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN PENSION LIABILITY -23,765 CHANGE IN GIFT ANNUITY OBLIGATIONS -3,234
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SCHOLARSHIPS NETTED AGAINST INCOME ON FINANCIAL STATEMENT 1,186,794
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3SCHOLARSHIPS NETTED AGAINST INCOME ON FINANCIAL STATEMENT 1,186,794
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.05$0.10$0.05
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.03$0.06$3.61$3.43$0.18
2023Detailed filing. Detailed filing data is available for this year.$3.66$3.77$0.12$2.67$3.42$0.75
2022Detailed filing. Detailed filing data is available for this year.$4.58$3.93$0.65$4.20$3.85$0.35
2021Detailed filing. Detailed filing data is available for this year.$4.33$3.98$0.36$3.48$3.51$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.72$4.35$0.37$3.63$4.44$0.81
2019Detailed filing. Detailed filing data is available for this year.$5.41$4.21$1.20$3.83$3.54$0.29
2018Detailed filing. Detailed filing data is available for this year.$5.28$4.36$0.93$3.95$3.31$0.63
2017Detailed filing. Detailed filing data is available for this year.$4.81$4.52$0.29$4.25$3.67$0.58
2016Detailed filing. Detailed filing data is available for this year.$4.17$4.45$0.27$3.27$3.43$0.15
2015Summary only. Only limited summary data is available for this year.$4.49$4.58$0.09$2.56$2.80$0.24
2014Detailed filing. Detailed filing data is available for this year.$4.65$4.45$0.20$1.64$2.36$0.72
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.88$3.94$0.94$1.54$2.74$1.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$2.58$2.18$2.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.18$1.82$3.36$2.37