Saint Michael's College FY2023 filing

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IT is the mission of Saint Michael's College to contribute through higher education to the enhancement of the human person and to the advancement of human culture in the light of the catholic faith.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $4.8M a year · 5% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $107.0M in investments, Pt X · Ln 11–13
Fine: 0.7 months of spending in cash, plus $107.0M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$63.7M
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
28
of 29 voting members
Looks good: 28 of 29 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$95.7M
-13% vs prior year
Spent
$106.9M
To programs
87%
Net assets
$131.7M
By yearFY2020–FY2025
Revenue
$95.7M
FY2023▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$107.0M
FY2021$111.4M
FY2022$109.4M
FY2023$95.7M
FY2024$98.4M
FY2025$94.5M
Expenses
$106.9M
FY2023▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$107.8M
FY2021$104.2M
FY2022$108.1M
FY2023$106.9M
FY2024$108.4M
FY2025$109.6M
Net assets
$131.7M
FY2023▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$123.0M
FY2021$153.1M
FY2022$143.3M
FY2023$131.7M
FY2024$128.0M
FY2025$113.6M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1973.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $93.2M Management & general 11% · $11.6M Fundraising 2% · $2.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

40 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President/Trustee
$418,606Pt VII · Sec A
VP Enrollment/Marketing
$195,240Pt VII · Sec A
VP for Student Affairs
$181,169Pt VII · Sec A
VP Academic Affairs
$179,247Pt VII · Sec A
VP for Finance/Treasurer
$178,404Pt VII · Sec A
VP Institutional Advancement
$165,440Pt VII · Sec A
Professor Political Science
$158,033Pt VII · Sec A
Professor Psychology
$123,811Pt VII · Sec A

Richard Plumb’s $384K as President/Trustee is at the 78th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
John J Neuhauser————$498,944$279,703
Dr Lorraine Sterritt PHD—$488,129$418,606$426,035$381,632$403,962
Richard Plumb$383,500—————
Lewis Thayne—$200,000————
Kristen McAndrew——$195,240$191,098$180,668—
Gretchen Galbraith$189,902—————
Dawn M Ellinwood$189,844$185,969$181,169$177,375$167,987$174,486
Patrick J Gallivan—————$188,615

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Saint Michael's College executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes human development and culture through Catholic higher education.

Questions for Saint Michael's College

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3 programs · $93.2M · in their own filed words · FY2022
01

Academic program and financial aid, see SCH o

$63.5Mprogram expense
02

Student services, see SCH o

$15.1Mprogram expense
03

Auxiliary enterprises, see SCH o

$14.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$6K
Grants paid · 37 grants · $241.8M · 2019–2024
Unitemized GrantFY2024$31,673,626
Unitemized GrantFY2024$3,578,750
Unitemized GrantFY2024$3,559,732
Unitemized GrantFY2024$358,973
Unitemized GrantFY2024$35,290
Unitemized GrantFY2023$32,981,488
Unitemized GrantFY2023$3,486,346
Unitemized GrantFY2023$3,223,317
Unitemized GrantFY2023$279,208
Unitemized GrantFY2023$18,711
Unitemized GrantFY2022$32,637,334
Unitemized GrantFY2022$3,174,499
Unitemized GrantFY2022$2,499,153
Unitemized GrantFY2022$405,336
Unitemized GrantFY2022$20,053
Unitemized GrantFY2021$35,835,025
Unitemized GrantFY2021$3,135,107
See all 37 grants →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $13.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$6.8M
Fund for the Improvement of Postsecondary EducationDepartment of Education · ALN 84.116 · Direct$3.2M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$743K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$359K

Plus 12 smaller programs.

The auditor reported 2 findings: a weakness in money controls.

Year ending Jun 2024 · $13.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$6.9M
Fund for the Improvement of Postsecondary EducationDepartment of Education · ALN 84.116 · Direct$2.3M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.6M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.2M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$307K

Plus 11 smaller programs.

The auditor reported 3 findings: a weakness in money controls.

Year ending Jun 2023 · $11.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$7.0M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Vermont and State Agricultural College$310K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$303K

Plus 11 smaller programs.

The auditor reported 5 findings: a weakness in money controls.

Year ending Jun 2022 · $15.8M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$7.7M
Covid-19 - Higher Education Emergency Relief Fund - StudentDepartment of Education · ALN 84.425 · Direct$2.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$2.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.3M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$303K

Plus 11 smaller programs.

The auditor reported 1 finding: a weakness in money controls, questioned costs.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$95.7M
Ln 12
Fees for servicesLn 2g$80.3M
Investment incomeLn 3$7.9M
Gifts and grantsLn 1h$5.2M
Money outPt IX
$106.9M
Ln 25
Programscol B$93.2M
Managementcol C$11.6M
Fundraisingcol D$2.2M
Owns and owesPt X
$131.7M
net assets · Ln 32
Cash and savingsLn 1–2$5.9M
Total assetsLn 16$195.4M
LiabilitiesLn 26$63.7M
PeoplePt VI, VII
40
listed · VII A
PaidVII A12
Voting boardVI 1a29
IndependentVI 1b28
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.2M
Government grantsLn 1e$2.0M
Noncash giftsLn 1g$130K
Fees for servicesLn 2g$80.3M
Investment incomeLn 3$7.9M
Other incomeLn 4–11$2.3M
Gains on assetsLn 7$4.5M
Total revenueLn 12$95.7M
Assets in detailPt X, end of year
CashLn 1$5.9M
Cash and savings togetherLn 1–2$5.9M
Pledges and grants receivableLn 3$1.7M
Accounts receivableLn 4$1.5M
Notes and loans receivableLn 7$1.6M
Inventories for sale or useLn 8$336K
Prepaid expenses and deferred chargesLn 9$2.3M
Land, buildings, equipmentLn 10c$74.8M
InvestmentsLn 11–13$107.0M
Other assetsLn 15$273K
Total assetsLn 16$195.4M
LiabilitiesLn 26$63.7M
Net assetsLn 32$131.7M
OperationsPt I, VI
EmployeesI 51,172
VolunteersI 61,051
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$53.8M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$56.4M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$577K
Noncash gifts receivedSch M Pt I$130K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$445K
Share of the $93.4M endowmentSch D 1g0.48%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$93.4M$94.4M$103.0M$77.7M$89.1M
Given inLn 1b$835K$1.3M$3.3M$713K$1.7M
SpentLn 1d–1f$8.7M$4.3M$3.7M$7.2M$4.9M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$15.4M$5.9M
InvestmentsLn 11–13$97.6M$107.0M
Land, buildings, equipmentLn 10c$78.0M$74.8M
Total assetsLn 16$200.6M$195.4M
LiabilitiesLn 26$57.3M$63.7M
Net assetsLn 32$143.3M$131.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K$10K
Grants to domestic individualsLn 2$38.7M$38.7M
Grants and assistance to foreign recipientsLn 3$577K$577K
Pay of current officers, directors and key staffLn 5$1.5M$652K$423K$436K
Other salaries and wagesLn 7$25.3M$21.2M$3.3M$801K
Pension plan contributionsLn 8$573K$482K$77K$14K
Other employee benefitsLn 9$5.9M$4.9M$816K$165K
Payroll taxesLn 10$1.9M$1.5M$260K$82K
Legal feesLn 11b$217K$217K
Accounting feesLn 11c$188K$188K
Lobbying feesLn 11d$2K$2K
Professional fundraising feesLn 11e$216K$216K
Investment management feesLn 11f$445K$445K
Advertising and promotionLn 12$1.7M$1.1M$615K$58
Office expensesLn 13$4.7M$3.3M$1.3M$131K
Information technologyLn 14$1.9M$928K$935K$56K
OccupancyLn 16$4.6M$4.4M$128K
TravelLn 17$2.0M$1.7M$177K$81K
InterestLn 20$1.9M$1.9M$8K
Depreciation, depletion and amortizationLn 22$6.5M$5.9M$557K
InsuranceLn 23$705K$641K$64K$33
Other expenses (24a–d)Ln 24$7.3M$5.2M$2.0M$182K
Total functional expensesLn 25$106.9M$93.2M$11.6M$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $94.5M$109.6M−$15.1M$113.6M 990 PDF
FY2024Filed with the IRS May 15, 2025 $98.4M$108.4M−$9.9M$128.0M 990 PDF
FY2023 ViewingFiled with the IRS May 14, 2024 $95.7M$106.9M−$11.2M$131.7M 990 PDF
FY2022Filed with the IRS May 10, 2023 $109.4M$108.1M$1.3M$143.3M 990 PDF
FY2021Filed with the IRS May 13, 2022 $111.4M$104.2M$7.2M$153.1M 990 PDF
FY2020Filed with the IRS May 10, 2021 $107.0M$107.8M−$798K$123.0M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $95,658,452 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,785,143$5,165,602
I-9 Program service revenuePrior year $88,968,024$80,266,370
I-10 Investment incomePrior year $6,091,478$7,904,705
I-11 Other revenuePrior year $560,751$2,321,775
I-12 Total revenuePrior year $109,405,396$95,658,452
I-13 Grants and similar amounts paidPrior year $42,966,707$39,323,644
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $32,358,803$35,173,547
I-16a Professional fundraising feesPrior year $0$215,776
I-17 Other expensesPrior year $32,778,978$32,192,727
I-18 Total expensesPrior year $108,104,488$106,905,694
I-19 Revenue less expensesPrior year $1,300,908−$11,247,242
Part VI · Governance 28 of 29 board members independent, no flags
VI-1a Voting members of the governing body29
VI-1b Independent voting members28
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $95,658,452 across 10 lines filed
Lines not itemized here account for $630,462 of total revenue; see the IRS return.
VIII-1e Government grants$1,999,312
VIII-1f All other contributions, gifts and grants$3,166,290
VIII-1g Noncash contributions (included above)$130,253
VIII-1h Total contributions, gifts and grants$5,165,602
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $78,073,681 · Excluded from tax $1,562,227$79,635,908
VIII-3 Investment incomeUnrelated business −$148,096 · Excluded from tax $3,598,858$3,450,762
VIII-6 Net rental income or lossExcluded from tax $195,594$195,594
VIII-7 Net gain or loss on sales of assetsUnrelated business $196,992 · Excluded from tax $4,256,951$4,453,943
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,126,181$2,126,181
VIII-12 Total revenueRelated to mission $78,704,143 · Unrelated business $48,896 · Excluded from tax $11,739,811$95,658,452
Part IX · Statement of functional expenses $106,905,694 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $10,000$10,000
IX-2 Grants to domestic individualsPrograms $38,736,376$38,736,376
IX-3 Grants and assistance to foreign recipientsPrograms $577,268$577,268
IX-5 Pay of current officers, directors and key staffPrograms $651,665 · Management $422,617 · Fundraising $436,160$1,510,442
IX-7 Other salaries and wagesPrograms $21,173,063 · Management $3,342,131 · Fundraising $801,035$25,316,229
IX-8 Pension plan contributionsPrograms $482,128 · Management $76,821 · Fundraising $14,019$572,968
IX-9 Other employee benefitsPrograms $4,921,485 · Management $816,001 · Fundraising $165,344$5,902,830
IX-10 Payroll taxesPrograms $1,528,416 · Management $260,331 · Fundraising $82,331$1,871,078
IX-11b Legal feesManagement $216,765$216,765
IX-11c Accounting feesManagement $187,550$187,550
IX-11d Lobbying feesManagement $1,558$1,558
IX-11e Professional fundraising feesFundraising $215,776$215,776
IX-11f Investment management feesManagement $444,713$444,713
IX-12 Advertising and promotionPrograms $1,063,640 · Management $615,008 · Fundraising $58$1,678,706
IX-13 Office expensesPrograms $3,262,450 · Management $1,342,846 · Fundraising $131,123$4,736,419
IX-14 Information technologyPrograms $927,958 · Management $934,799 · Fundraising $55,807$1,918,564
IX-16 OccupancyPrograms $4,448,117 · Management $127,946$4,576,063
IX-17 TravelPrograms $1,734,695 · Management $177,150 · Fundraising $80,511$1,992,356
IX-20 InterestPrograms $1,925,645 · Management $8,462$1,934,107
IX-22 Depreciation, depletion and amortizationPrograms $5,900,601 · Management $557,171$6,457,772
IX-23 InsurancePrograms $641,134 · Management $63,686 · Fundraising $33$704,853
IX-24 Other expenses (24a–d)Programs $5,176,672 · Management $1,984,973 · Fundraising $181,656$7,343,301
IX-25 Total functional expensesPrograms $93,161,313 · Management $11,580,528 · Fundraising $2,163,853$106,905,694
Part X · Balance sheet $195,408,845 assets, 30 lines filed
X-1 Cash, non-interest-bearingStart of year $15,389,501$5,941,981
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $2,547,292$1,693,646
X-4 Accounts receivableStart of year $1,800,827$1,516,740
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $2,319,230$1,587,508
X-8 Inventories for sale or useStart of year $324,661$336,480
X-9 Prepaid expenses and deferred chargesStart of year $2,383,867$2,347,205
X-10c Land, buildings and equipment, netStart of year $77,962,397$74,752,210
X-11 Publicly traded securitiesStart of year $50,603,596$47,340,582
X-12 Other securitiesStart of year $47,009,196$59,619,242
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $262,219$273,251
X-16 Total assetsStart of year $200,602,786$195,408,845
X-17 Accounts payable and accrued expensesStart of year $3,637,087$3,458,884
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,954,395$2,526,885
X-20 Tax-exempt bond liabilitiesStart of year $45,482,453$53,820,616
X-21 Escrow or custodial accountsStart of year $0$0
X-22 Loans from officers and insidersStart of year $0$0
X-23 Secured mortgages and notes payableStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $5,204,677$3,907,593
X-26 Total liabilitiesStart of year $57,278,612$63,713,978
X-27 Net assets without donor restrictionsStart of year $78,178,476$65,787,491
X-28 Net assets with donor restrictionsStart of year $65,145,698$65,907,376
X-32 Total net assets or fund balancesStart of year $143,324,174$131,694,867
X-33 Total liabilities and net assetsStart of year $200,602,786$195,408,845
Part XI · Reconciliation of net assets $131,694,867 net assets at year end
XI-1 Total revenue$95,658,452
XI-2 Total expenses$106,905,694
XI-3 Revenue less expenses−$11,247,242
XI-4 Net assets at start of year$143,324,174
XI-5 Net unrealized gains (losses) on investments$392,971
XI-9 Other changes in net assets−$775,036
XI-10 Net assets at end of year$131,694,867

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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