Civic Intelligence

Magdalen College

990 • Fiscal year 2024 • EIN 02-0309681

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 13, 2024

Organization Profilewww.magdalen.edu
42 Kearsarge Valley RoadWilmot, NH 03287

(603) 456-2656

Siviq Scores

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

Liabilities / Assets

76th percentile

0.32x

Higher debt load relative to assets than 76% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

51st percentile

4.9%

Higher net margin than 51% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

82nd percentile

$147,841

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

1st percentile

-98%

Faster asset growth than 1% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

35%

Faster revenue growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$91,100

Down $3,567,851 (-98%) from 2023

Net Assets

Up

$62,131

Up $177,848 (+154%) from 2023

Liabilities

Down

$28,969

Down $3,745,699 (-99%) from 2023

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin51st percentile

Revenue

Up

$3,605,649

Up $934,034 (+35%) from 2023

Expenses

Up

$3,427,801

Up $5,080 (+0.1%) from 2023

Net Income

Up

$177,848

Up $928,954 (+124%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2024

Assets$91,100
Liabilities$28,969
Net Assets$62,131
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

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

2024

Revenue$3,605,649
Expenses$3,427,801
Net Income$177,848
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$4,476,621
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.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,386,623--
Investments in Publicly Traded Securities$870,972--
Other Notes and Loans Receivable, Net$242,195--
Pledges and Grants Receivable$90,614--
Cash and Non-Interest-Bearing Accounts$41,389$85,699▲ $44,310
Loans From Officers Directors$51,900--
Accounts Receivable$12,657$5,401▼ $7,256
Savings and Temporary Cash Investments$5,110--
Total Assets$3,658,951$91,100▼ $3,567,851
Other Assets Total$9,391--
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,552,462--
Other Liabilities$62,893--
Accounts Payable and Accrued Expenses$98,413$28,969▼ $69,444
Deferred Revenue$9,000--
Total Liabilities$3,774,668$28,969▼ $3,745,699
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-219,411$55,295▲ $274,706
Net Assets With Donor Restrictions$103,694$6,836▼ $96,858
Total Net Assets Fund Balance$-115,717$62,131▲ $177,848
Total Liabilities and Net Assets / Fund Balance$3,658,951$91,100▼ $3,567,851

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$6,123,420$6,123,420
Other Land Buildings-$758,739$758,739
Equipment-$117,252$117,252

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$6,836---$6,836
2022$6,836$4,996▲ $1,284-$13,116
2021$6,836---$6,836
2020$6,836---$6,836
2019$6,836---$6,836
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ryan MessmorePresident/trusteeFT$147,841$147,841

Board Members and Trustees

NameTitle
Victor PrietoChairman
Daniel SwegartTrustee
Nathan BondTrustee
Rev Michael SartoriTrustee
David CurrierSecretary
Bernard TowneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$456,777
Program Service Revenue
$1,889,450
Investment Income
$91,393
Other Revenue
$1,168,029
All Other Contributions
$452,797
Change in Net Assets
$177,848

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,552,946
Revenue Not Reported on Financial Statements
$2,052,703
Other Revenue Adjustments
$2,052,703
Total Revenue per Audited Statements
$1,552,946
Total Revenue per Form 990
$3,605,649
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,297,596
Salaries, Compensation, and Employee Benefits$1,269,936
Grants and Similar Amounts Paid$860,269
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$860,269--$860,269
Other Salaries and Wages$844,324--$844,324
All Other Expenses$58,729$373,186-$431,915
Depreciation Depletion$254,975--$254,975
Other Employee Benefits$174,503$12,895-$187,398
Occupancy$162,881$127-$163,008
Current Officers, Directors, Trustees, and Key Employees$79,570$68,271-$147,841
Insurance$78,108$23,106-$101,214
Payroll Taxes$67,721$5,004-$72,725
Office Expenses$8,256$24,475-$32,731
Other Expenses$32,188--$32,188
Pension Plan Contributions-$17,648-$17,648
Advertising$13,983$1,547-$15,530
Interest$1,011$13,298-$14,309
Travel$3,101$964-$4,065
Total Functional Expenses$2,887,280$540,521$0$3,427,801

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,427,801
Expenses per Audited Statements$2,567,532
Total Expenses per Audited Statements$2,567,532
Expenses Not Reported on Financial Statements$860,269
Other Expense Adjustments$860,269
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$51,900--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Charitable Gift Annuity-
Pension Annuity Obligation-
Financing Lease Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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, Part VI, Section B, 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, Part VII, Section B, Line 12C

“The board of trustees reviews conflict of interest compliance at each board meeting.”

Form 990, Part VI, Section B, 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 scales are reviewed and approved annually by the board of trustees.”

Form 990, Part VI, Section C, Line 19

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

Form 990, Part VIII, Line 11B

“tHE BOARD OF TRUSTEES AFTER CONTINUED LOW ENROLLMENT DECIDED THAT THE 2023-204 ACASDEMIC YEAR WOULD BE MAGDALEN COLLEGES LAST YEAR. THEY TRANSFERRED THE DEED TO THEIR FACILITIES IN LIEU OF FORECLOSURE.”

Filing and Contact Details

Filer

Filer Name
Magdalen College
EIN
02-0309681
In Care Of
% VICTOR PRIETO
Phone
6034562656
Address
42 KEARSARGE VALLEY ROAD, WILMOT, NH 03287

Signing Officer

Name
Victor Prieto
Title
Presidenttrustee
Phone
6034562656
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Victor Prieto
Formed
1973
Legal Domicile
Nh
Voting Board Members
7
Independent Board Members
6
Employees
81

Preparer

Firm
David A Kreed CPA
Address
36 North Street, Manchester, NH 03104
Preparer
David A Kreed
Phone
6036254792
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“Organization 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.”

Financial Statement Notes

V 4

“Intended uses of endowment funds will be used to support the Colleges mission of offering associate and bachelor of arts degrees.”

XI 4B

“Revenue amounts included on return are other scholarships netted against income on financial statements 860,269 and amount from disposition of investments 1,192,434.”

XII 4B

“Expense amounts included on the return - other scholarships netted against income on financial statements 860,269”

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IRS990/MissionDesc0THE 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. THE MISSION IS ACCOMPLISHED THROUGH AN ORDERED LIFE, DIRECTED BY CATHOLIC PRINCIPLES AND GROUNDED IN THE SOCRATIC PEDAGOGICAL METHOD OF INQUIRY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt03552462
IRS990/NetAssetsOrFundBalancesBOYAmt0-115717
IRS990/NetAssetsOrFundBalancesEOYAmt062131
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt082491
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt082491
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-219411
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt055295
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt0127
IRS990/OccupancyGrp/ProgramServicesAmt0162881
IRS990/OccupancyGrp/TotalAmt0163008
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt024475
IRS990/OfficeExpensesGrp/ProgramServicesAmt08256
IRS990/OfficeExpensesGrp/TotalAmt032731
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt09391
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt012895
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0174503
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0187398
IRS990/OtherExpensesGrp/Desc0FOOD SERVICE
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc3EVENTS EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt0157944
IRS990/OtherExpensesGrp/ProgramServicesAmt157238
IRS990/OtherExpensesGrp/ProgramServicesAmt232479
IRS990/OtherExpensesGrp/ProgramServicesAmt332188
IRS990/OtherExpensesGrp/TotalAmt0157944
IRS990/OtherExpensesGrp/TotalAmt157238
IRS990/OtherExpensesGrp/TotalAmt232479
IRS990/OtherExpensesGrp/TotalAmt332188
IRS990/OtherLiabilitiesGrp/BOYAmt062893
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Other Income
IRS990/OtherRevenueMiscGrp/Desc1Deed in Lieu
IRS990/OtherRevenueMiscGrp/ExclusionAmt01109943
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt058086
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt058086
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt11109943
IRS990/OtherRevenueTotalAmt01168029
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0844324
IRS990/OtherSalariesAndWagesGrp/TotalAmt0844324
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0242195
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05004
IRS990/PayrollTaxesGrp/ProgramServicesAmt067721
IRS990/PayrollTaxesGrp/TotalAmt072725
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt017648
IRS990/PensionPlanContributionsGrp/TotalAmt017648
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt090614
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0VICTOR PRIETO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0Tuition, Room and Board, Net
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01889450
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01889450
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0309110
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0988615
IRS990/PYInvestmentIncomeAmt036235
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01135113
IRS990/PYOtherRevenueAmt0407178
IRS990/PYProgramServiceRevenueAmt01919092
IRS990/PYRevenuesLessExpensesAmt0-751106
IRS990/PYSalariesCompEmpBnftPaidAmt01298993
IRS990/PYTotalExpensesAmt03422721
IRS990/PYTotalRevenueAmt02671615
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0177848
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01889450
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05110
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.09310
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06123420
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06123420
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt06836
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt06836
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt06836
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt04996
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt013116
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01284
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt06836
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt06836
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt06836
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt06836
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt06836
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt06836
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0117252
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0117252
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0860269
IRS990ScheduleD/ExpensesSubtotalAmt02567532
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherExpensesNotIncludedAmt0860269
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0758739
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0758739
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CHARITABLE GIFT ANNUITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PENSION ANNUITY OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3FINANCING LEASE LIABILITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt02052703
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.90210
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt02052703
IRS990ScheduleD/RevenueSubtotalAmt01552946
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Intended uses of endowment funds will be used to support the Colleges mission of offering associate and bachelor of arts degrees.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Revenue amounts included on return are other scholarships netted against income on financial statements 860,269 and amount from disposition of investments 1,192,434.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Expense amounts included on the return - other scholarships netted against income on financial statements 860,269
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0V 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1XI 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2XII 4b
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.01000
IRS990ScheduleD/TotalExpensesPerForm990Amt03427801
IRS990ScheduleD/TotalRevenuePerForm990Amt03605649
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01552946
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02567532
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt0860269
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0Tuition assistance
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt058
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Procedures for monitoring the use of grant funds to provided scholarships to students for tuition assistance to attend the 2023-2024 academic school year.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I Line 2
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0OPERATIONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0235000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0DAVID CURRIER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD MEMBER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RETURN IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND THEN FORWARDED TO THE FULL BOARD OF TRUSTEES FOR FINAL REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF TRUSTEES REVIEWS CONFLICT OF INTEREST COMPLIANCE AT EACH BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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 SCALES ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$91,100
Liabilities
$28,969
Net assets
$62,131
Revenue
$3,605,649
Expenses
$3,427,801
Net income
$177,848
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