Civic Intelligence

Hope College

990 • Fiscal year 2024 • EIN 38-1381271

Jul 01, 2023 to Jun 30, 2024 • Filed on May 12, 2025

141 E 12th StreetHolland, MI 49423

(616) 395-7810

Siviq Scores

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

Liabilities / Assets

24th percentile

0.09x

Higher debt load relative to assets than 24% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

31st percentile

0.27x

Higher debt load relative to revenue than 31% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

18th percentile

-6.5%

Higher net margin than 18% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

21st percentile

$415,233

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

29th percentile

1.9%

Faster asset growth than 29% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

33rd percentile

4.2%

Faster revenue growth than 33% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$567,271,858

Up $10,608,723 (+1.9%) from 2023

Net Assets

Up

$516,722,984

Up $12,352,388 (+2.4%) from 2023

Liabilities

Down

$50,548,874

Down $1,743,665 (-3.3%) from 2023

Revenue

Up

$189,367,757

Up $7,697,712 (+4.2%) from 2023

Expenses

Up

$201,600,333

Up $14,428,606 (+7.7%) from 2023

Net Income

Down

-$12,232,576

Down $6,730,894 (-122%) from 2023

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $370,634,160Liabilities 2010: $105,676,421Net Assets 2010: $264,957,7392010Assets 2011: $392,694,322Liabilities 2011: $98,681,914Net Assets 2011: $294,012,4082011Assets 2012: $406,720,486Liabilities 2012: $107,623,203Net Assets 2012: $299,097,2832012Assets 2013: $433,428,447Liabilities 2013: $99,591,613Net Assets 2013: $333,836,8342013Assets 2014: $472,505,234Liabilities 2014: $98,383,185Net Assets 2014: $374,122,0492014Assets 2015: $482,846,633Liabilities 2015: $94,683,782Net Assets 2015: $388,162,8512015Assets 2016: $464,019,780Liabilities 2016: $91,670,101Net Assets 2016: $372,349,6792016Assets 2017: $478,936,261Liabilities 2017: $83,144,661Net Assets 2017: $395,791,6002017Assets 2018: $490,988,344Liabilities 2018: $74,414,564Net Assets 2018: $416,573,7802018Assets 2019: $496,373,575Liabilities 2019: $74,132,228Net Assets 2019: $422,241,3472019Assets 2020: $493,947,019Liabilities 2020: $70,872,669Net Assets 2020: $423,074,3502020Assets 2021: $580,555,530Liabilities 2021: $67,194,760Net Assets 2021: $513,360,7702021Assets 2022: $551,187,354Liabilities 2022: $58,394,179Net Assets 2022: $492,793,1752022Assets 2023: $556,663,135Liabilities 2023: $52,292,539Net Assets 2023: $504,370,5962023Assets 2024: $567,271,858Liabilities 2024: $50,548,874Net Assets 2024: $516,722,9842024

Highlighted filing

2024

Assets$567,271,858
Liabilities$50,548,874
Net Assets$516,722,984

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $120,579,9062010Expenses 2011: $122,599,0082011Expenses 2012: $126,212,3702012Revenue 2013: $150,071,399Expenses 2013: $131,467,018Net Income 2013: $18,604,3812013Revenue 2014: $170,646,891Expenses 2014: $136,952,323Net Income 2014: $33,694,5682014Revenue 2015: $169,049,806Expenses 2015: $144,182,311Net Income 2015: $24,867,4952015Revenue 2016: $150,003,655Expenses 2016: $150,252,829Net Income 2016: -$249,1742016Revenue 2017: $147,771,215Expenses 2017: $152,487,469Net Income 2017: -$4,716,2542017Revenue 2018: $163,936,373Expenses 2018: $154,921,818Net Income 2018: $9,014,5552018Revenue 2019: $161,497,476Expenses 2019: $157,849,940Net Income 2019: $3,647,5362019Revenue 2020: $161,551,169Expenses 2020: $154,963,019Net Income 2020: $6,588,1502020Revenue 2021: $186,977,836Expenses 2021: $164,101,083Net Income 2021: $22,876,7532021Revenue 2022: $188,512,497Expenses 2022: $176,485,315Net Income 2022: $12,027,1822022Revenue 2023: $181,670,045Expenses 2023: $187,171,727Net Income 2023: -$5,501,6822023Revenue 2024: $189,367,757Expenses 2024: $201,600,333Net Income 2024: -$12,232,5762024

Highlighted filing

2024

Revenue$189,367,757
Expenses$201,600,333
Net Income-$12,232,576
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$289,731,908
Mission and Program Overview

Mission

The mission of hope college is to educate students for lives of leadership and service in a global society through academic and co-curricular programs of recognized excellence in the liberal arts and in the context of the historic christian faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$211,579,179$211,910,254▲ $331,075
Investments Other Securities$178,650,337$194,196,680▲ $15,546,343
Investments in Publicly Traded Securities$113,475,367$117,251,836▲ $3,776,469
Savings and Temporary Cash Investments$30,912,525$28,568,665▼ $2,343,860
Pledges and Grants Receivable$13,297,430$9,777,587▼ $3,519,843
Accounts Receivable$6,587,668$3,118,815▼ $3,468,853
Prepaid Expenses and Deferred Charges$1,273,738$1,564,786▲ $291,048
Inventories for Sale or Use$886,891$883,235▼ $3,656
Total Assets$556,663,135$567,271,858▲ $10,608,723
Liabilities
Tax Exempt Bond Liabilities$28,510,000$27,899,481▼ $610,519
Other Liabilities$14,202,452$11,847,616▼ $2,354,836
Accounts Payable and Accrued Expenses$9,580,087$10,801,777▲ $1,221,690
Total Liabilities$52,292,539$50,548,874▼ $1,743,665
Net Assets / Fund Balance
Net Assets With Donor Restrictions$266,536,448$282,490,901▲ $15,954,453
Net Assets Without Donor Restrictions$237,834,148$234,232,083▼ $3,602,065
Total Net Assets Fund Balance$504,370,596$516,722,984▲ $12,352,388
Total Liabilities and Net Assets / Fund Balance$556,663,135$567,271,858▲ $10,608,723

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$164,612,913$140,908,894$305,521,807
Equipment$14,106,303$27,987,954$42,094,257
Land$25,751,383-$25,751,383
Other Land Buildings$7,439,655-$7,439,655
Other Securities$138,311,328--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$296,649,633$1,681,671▲ $26,566,561$14,983,149$309,914,716
2022$282,642,113$6,943,227▲ $21,235,503$14,171,210$296,649,633
2021$307,166,851$3,765,171▼ $15,566,326$12,723,583$282,642,113
2020$229,197,138$14,776,631▲ $74,671,162$11,478,080$307,166,851
2019$233,511,844$6,848,611▼ $178,786$10,985,431$229,197,138
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew ScoginPresidentFT$325,000$90,233$415,233
Richard J PuckettVP for Philanthropy - Part YearFT$241,137$42,992$284,129
Thomas BylsmaVP for Finance/CFOFT$214,382$50,509$264,891
William VanderbiltVice President - Former Key EmployeeFT$192,272$72,113$264,385
Gerald D GriffinProvostFT$204,015$59,972$263,987
Jennifer FellingerVP for Strategic - Part YearFT$193,000$39,917$232,917
Carl HeidemenDirector of Process/innovationFT$153,466$63,323$216,789
Aaron BestFacultyFT$171,228$42,096$213,324
Robert a AndersonVP of PhilanthropyFT$161,693$26,374$188,067
Nathan HavemanVP of AdmissionsFT$152,300$35,453$187,753
Brent KruegerFacultyFT$152,201$35,471$187,672
David VanwylenDirector of PossibilitiesFT$152,469$34,443$186,912
Todd SteenFacultyFT$153,986$31,269$185,255
Rebekah StarkenburgVP for Student FormationFT$157,600$27,300$184,900
Dr Jeanne PetitTrustee/facultyFT$100,753$15,962$116,715
Dr Llena ChavisTrustee/facultyFT$79,690$27,501$107,191

Highest Paid Contractors

ContractorServicesLocationCompensation
Creative Dining ServiceFood Service ManagementONE ROYAL PARK DRIVE SUITE 3, Zeeland, MI 49464$11,157,515
Lakewood Construction CompanyConstruction Services11253 JAMES ST, Holland, MI 49424$3,530,981
Amdg ArchitectsArchitectural Services25 COMMERCE AVENUE SW SUITE 300, Grand Rapids, MI 49503$2,101,524
Mikalan Roofing INCCommercial Roofing Services9458 ADAMS ST, Zeeland, MI 49464$640,232
Cambridge AssociatesInvestment Consultant4100 FAIRFAX DRIVE, Arlington, VA 22203$430,158
Revenue and Support

Revenue Composition

Contributions and Grants
$18,227,508
Program Service Revenue
$159,258,848
Investment Income
$9,333,397
Other Revenue
$2,548,004
All Other Contributions
$12,871,358
Change in Net Assets
$-12,232,576

Noncash Contribution Practices

Property subject to holding requirements
Yes
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded44$733,560Nyse - Fair Market Value (FMV)
Works of Art5$712,325Fair Market Value (FMV)
Other Non Cash Contri Table1$65,852Fair Market Value (FMV)
Other Non Cash Contri Table1$16,960Fair Market Value (FMV)
Total Noncash Contributions51$1,528,697-

Audited Revenue Reconciliation

Revenue per Audited Statements
$125,110,080
Revenue Not Reported on Financial Statements
$64,257,677
Revenue Not Reported on Form 990
$24,585,790
Other Revenue Adjustments
$58,676,062
Total Revenue per Audited Statements
$149,695,870
Total Revenue per Form 990
$189,367,757
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$80,148,085
Grants and Similar Amounts Paid$61,673,139
Other Expenses$59,779,109
Total Fundraising Expense$4,365,483
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$52,650,807$5,065,663$2,480,365$60,196,835
Grants to Domestic Individuals$58,683,500--$58,683,500
Depreciation Depletion$10,703,421$1,282,494-$11,985,915
Other Employee Benefits$7,702,915$690,682$374,486$8,768,083
Fees for Service Investment Mgmnt Fees-$5,581,616-$5,581,616
Office Expenses$4,743,985$559,000$141,102$5,444,087
Pension Plan Contributions$4,072,275$442,168$207,393$4,721,836
Travel$4,224,794$122,450$221,813$4,569,057
Payroll Taxes$3,699,518$346,856$169,174$4,215,548
Fees for Services Other$3,203,882$420,095$270,423$3,894,400
Occupancy$3,701,291$111,534$51,237$3,864,062
Foreign Grants$2,989,639--$2,989,639
Current Officers, Directors, Trustees, and Key Employees$2,085,749$110,981$49,053$2,245,783
Other Expenses$1,594,368$84,678$37,427$1,716,473
All Other Expenses$1,083,285$565,622$33,649$1,682,556
Interest$1,023,529$104,072$18,568$1,146,169
Advertising$658,182$187,729$77,995$923,906
Insurance$405,983$350,366$3,180$759,529
Fees for Services Legal$6,644$204,746-$211,390
Conferences and Meetings$159,069-$100$159,169
Fees for Services Accounting$46,750$98,280-$145,030
Total Functional Expenses$180,431,019$16,803,831$4,365,483$201,600,333

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$201,600,333
Total Expenses per Audited Statements$137,342,655
Expenses per Audited Statements$134,345,578
Expenses Not Reported on Financial Statements$67,254,755
Other Expense Adjustments$61,673,139
Expenses Not Reported on Form 990$2,997,077
International Activity

International Summary

Offices
0
Employees
0
Spending
$96,418,787

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Direct Foreign InvestmentN/a00$78,112,861
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumDirect Foreign InvestmentN/a00$14,530,912
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,ScholarshipsN/a00$907,840
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,ScholarshipsN/a00$751,844
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesOff Campus Student Enrichment, Recruitment, Research00$671,881
Sub-saharan Africa - Angola, Benin, Botswana, Burkina Faso,ScholarshipsN/a00$632,209
South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador,ScholarshipsN/a00$314,001
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumScholarshipsN/a00$141,400
Russia and Neighboring States - Armenia, Azerbijan, Belarus,ScholarshipsN/a00$126,235
North America - Canada and Mexico, But Not the United StatesScholarshipsN/a00$116,110
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Program ServicesOff Campus Student Enrichment, Recruitment00$44,469
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Program ServicesOff Campus Student Enrichment, Recruitment00$34,832
North America - Canada and Mexico, But Not the United StatesProgram ServicesOff Campus Student Enrichment, Recruitment00$24,972
Sub-saharan Africa - Angola, Benin, Botswana, Burkina Faso,Program ServicesOff Campus Student Enrichment, Recruitment00$7,249
South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador,Program ServicesOff Campus Student Enrichment, Recruitment00$1,305
Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt,Program ServicesOff Campus Student Enrichment, Recruitment00$667
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuity and Trust Payable$6,663,377
Accumulated Post-retirement Benefits$2,209,237
Refundable Federal Perkins Loan Advances$1,260,142
Early Retirement Benefit$978,362
Students and Other Deposits$683,841
Interest Rate Swap Liability$52,657

Bond Issues

BondIssuerIssuedIssue PricePurpose
BMichigan Finance Authority2023-03-01$20,940,000SEE PART VI
AMichigan Finance Authority2015-05-28$13,940,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$20,940,000$20,940,000$20,519-
A$13,940,000$13,940,000$6,960,000-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
No
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
Yes
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

Members of the protecting the mission committee of the board of trustees are provided with a reasonable opportunity to review and comment to executive leadership on the form 990 of hope college before it is filed with the internal revenue service. Further, the executive leadership of hope college provides the minutes of the protecting the mission committee form 990 review to the board of trustees showing an overview of the highlights at the next regularly scheduled board meeting following the filing of the form 990.

Form 990, Part VI, Section B, Line 12C

Members of the board of trustees prepare and sign conflict statements annually. These statements are reviewed by the protecting the mission committee, the secretary of the board, and the president to ensure compliance with the conflict policy. Members of the board with a personal involvement in a particular decision will excuse themselves from discussion leading to a decision and from the decision itself, and this disclosure and absence will be noted in the minutes of the meeting.

Form 990, Part VI, Section B, Line 15

The board of trustees (bot) reviews compensation annually and approves recommended compensation increases brought to the bot from the cfo. The compensation increase is highly correlated to the tuition increase approved for the following academic year. The rates recommended are determined by looking at the following factors: cost of living (cpi), cupa (college and university personnel association) surveys, and the lakeshore human resources management association surveys - which is a chapter of the society of human resources management (shrm). Since hope college is not a union" school we do not have deliberation but if discussion does occur during the bot approval process, it would be documented in the bot minutes for that specific meeting. The ceo's (president's) compensation is based upon a recommendation from the executive committee of the board of trustees and is then approved by the full board of trustees. Comparison data is used along with evaluation of performance in their decision.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Hope College
EIN
38-1381271
Phone
6163957810
Address
141 E 12TH STREET, HOLLAND, MI 49423

Signing Officer

Name
Thomas Bylsma
Title
Vice President, CFO
Phone
6163957810
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Bylsma
Formed
1866
Legal Domicile
Mi
Voting Board Members
24
Independent Board Members
21
Employees
3,201
Volunteers
21

Preparer

Firm
Plante & Moran Pllc
Address
750 TRADE CENTRE WAY STE 300, PORTAGE, MI 49002
Preparer
Amy Ciminello
Phone
2695674500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of split interest agreement -1,365,403. Change in value of postretirement liability 49,000. Change in value of swap agreements 245,497. Rounding adjustment -826.

FORM 990, PART XII, LINE 2C:

The oversight process for the audit has not changed since last year.

Financial Statement Notes

PART III, LINE 4:

Hope college, through the construction (2004-05) of the martha miller center for international communications, has purchased $79,000 in pieces of art that are on permanent display in this building. In fall of 2015, hope college opened the kruizenga art museum. Strategic pieces of art were purchased to put on display in the art gallery which will assist the college's art, history, and cultural heritage curriculum.

PART V, LINE 4:

The endowment fund of hope college is used to support the ongoing mission of the college by providing annual resources that assist with scholarship, faculty development, academic support, research, student services, facility maintenance, and other program support.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split interest agreement -1,365,403. Change in value of swap agreements 245,497. Change in value of postretirement liability 49,000.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Institutional scholarships & fellowships 61,673,139. Rental expense -2,997,077.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 2,997,077.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Institutional scholarships & fellowships 61,673,139.

Raw XML AppendixShowing 400 of 1,442 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 3,200 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2023 AND 3,108 IN THE SPRING OF 2024. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILIARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE/FACULTY

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$567$50.5$517$189$202$12.2
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$557$52.3$504$182$187$5.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$551$58.4$493$189$176$12.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$581$67.2$513$187$164$22.9
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$494$70.9$423$162$155$6.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$496$74.1$422$161$158$3.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$491$74.4$417$164$155$9.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$479$83.1$396$148$152$4.72
2016Detailed filing. Detailed filing data is available for this year.$464$91.7$372$150$150$0.25
2015Detailed filing. Detailed filing data is available for this year.$483$94.7$388$169$144$24.9
2014Detailed filing. Detailed filing data is available for this year.$473$98.4$374$171$137$33.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$433$99.6$334$150$131$18.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$407$108$299$126
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$393$98.7$294$123
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$371$106$265$121