Champlain College Incorporated FY2024 filing

Tax-deductible

Burlington, VT501(c)(3)Since 1878Colleges & UniversitiesEIN 03-0220266

An institution of higher education that prepares students to excel through radically pragmatic career-focused education. We are a supportive learning community that advances society by delivering uniquely future-focused academic programs, transformative hands-on experiences, and meaningful connections and collaborations that engage the passions of our students to create a better world.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$3.5M 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

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
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
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
2 of 5
years in the black
Concern: 3 of the last 5 filings show a deficit.
Pt I · Ln 19 · 5 filings
How much reaches the programs?
85%
of spending
Looks good: 85% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
What are leaders paid?
$3.5M
to officers and key staff · 3% of spending
Looks good: leaders' pay is 3% of spending; 15% or less looks good.
Pt VII · Sec A
Do they have reserves?
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 1 is a concern.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
3
named funders · $54K
Looks good: 3 funders name it on their filings; 3 or more looks good.
Funders’ Sch. I, 990-PF
Do they carry debt?
$81.0M
liabilities
Looks good: debts are 37% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
30
independent of 31 voting board members
Looks good: 30 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$136.2M
+6% vs prior year
Spent
$136.8M
To programs
85%
Net assets
$136.6M
By yearFY2020–FY2024
Revenue
$136.2M
FY2024▲ +6%
Revenue by fiscal year
FY2020$123.9M
FY2021$119.7M
FY2022$127.0M
FY2023$128.5M
FY2024$136.2M
FY2024$122.7M
Expenses
$136.8M
FY2024▲ +5%
Expenses by fiscal year
FY2020$123.3M
FY2021$124.1M
FY2022$125.8M
FY2023$129.8M
FY2024$136.8M
FY2024$126.8M
Net assets
$136.6M
FY2024▼ -1%
Net assets by fiscal year
FY2020$145.0M
FY2021$153.1M
FY2022$141.3M
FY2023$138.2M
FY2024$136.6M
FY2024$134.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CChamplain College Incorporated
EINHdr · item D03-0220266
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFApr 1968
Year of formationHdr · item L1878
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBurlington, VT
NTEE classificationIRS BMFColleges & Universities (B420)
WebsiteHdr · item Jwww.champlain.edu

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.13 Fundraising $0.02
Program services85%$116.6M
Management & general13%$18.0M
Fundraising2%$2.2M
Total functional expensesLn 25$136.8M

Financial health

Is it on solid ground?

Operating surplus
-0.4%
revenue over expenses, this legal entity
Payroll share
39%
of this entity's spending is salaries & benefits
Program spending
85%
of expenses reach program services

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$217.5M
FY2024▼ -2%
Total assets by fiscal year
FY2020$233.9M
FY2021$240.8M
FY2022$226.0M
FY2023$221.6M
FY2024$217.5M
FY2024$213.8M
Total liabilities
$81.0M
FY2024▼ -3%
Total liabilities by fiscal year
FY2020$88.9M
FY2021$87.7M
FY2022$84.7M
FY2023$83.4M
FY2024$81.0M
FY2024$78.9M
Revenue less expensesPt I · Ln 19−$542K
Total assetsPt X · Ln 16$217.5M
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 331
Independent voting membersPt I · Ln 430

Balance Sheet

Part X · end of year
CashLn 1$4.7M
Total assetsLn 16$217.5M
Total liabilitiesLn 26$81.0M
Total net assetsLn 32$136.6M
Months of cash on handcomputed0.4

Statement of Revenue

Part VIII
Program service revenue$114.2M · 84%
Contributions & grants$10.1M · 7%
Investment income$6.4M · 5%
Other revenue$5.5M · 4%
Program service revenue84%$114.2M
Contributions & grants7%$10.1M
Investment income5%$6.4M
Other revenue4%$5.5M
— government grantsLn 1e$2.4M
Total revenueLn 12$136.2M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $67.4M · Operating expenses (Pt IX) $136.8M · Less non-cash grants $235K · Cash operating expenses/yr $136.5M
5.9 months
Where the money goes
Program services
Program services $116.6M · Total expenses $136.8M
85%
Management & General
Management & general $18.0M · Total expenses $136.8M
13%
Fundraising
Fundraising $2.2M · Total expenses $136.8M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $2.0M · Solicited contributions (3-yr avg) $7.1M
$0.29 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $10.1M · Total revenue $136.2M
7%
Government reliance
Government grants $2.4M · Total revenue $136.2M
2%
Earned-income share
Program service revenue $114.2M · Total revenue $136.2M
84%
Investment reliance
Investment income $6.4M · Total revenue $136.2M
+5%
Program self-sufficiency
Program service revenue $114.2M · Total expenses $136.8M
84%
Growth & trend
Revenue growth (YoY)
This year $136.2M · Prior year $128.5M
+6%
Revenue CAGR
FY2019 $123.9M · FY2023 $136.2M
+2%
Net-asset trend (YoY)
End of year $136.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $136.2M · Expenses $136.8M
-0.4%
Liabilities-to-Assets
Total liabilities — · Total assets $217.5M
—
Net-asset ratio
Net assets $136.6M · Total assets $217.5M
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $61.0M · Other securities (Pt X, ln 12) $1.7M · Total assets (Pt X, ln 16) $217.5M
29%
People & payroll
Highest Reported Total Compensation
Individual Alejandro E Hernandez · Reported title PRESIDENT · Highest reported compensation $446K · Total expenses $136.8M
0.3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $53.5M · Total expenses $136.8M
39%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%——
Overhead ratio 13%——
Fundraising cost ratio 21%——
Revenue growth 6%——
Investment management fee ratio 0.05%——
Legal fee ratio 0.1%——
Accounting fee ratio 0.1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$446,273Pt VII · Sec A
$299,475Pt VII · Sec A
Vice President
$269,413Pt VII · Sec A
Vice President (thru 7/23)
$243,509Pt VII · Sec A
Vice President
$234,358Pt VII · Sec A
Vice President
$207,042Pt VII · Sec A
Vice President (thru 6/24)
$193,151Pt VII · Sec A
Professor
$187,125Pt VII · Sec A

Alejandro E Hernandez’s $465K as President is at the 33rd percentile of top reported officer pay among 674 $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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Benjamin Akande———$734,521$268,007—
Donald J Laackman—————$687,892
David Finney——$270,822$497,419——
Alejandro E Hernandez$465,337$446,273$322,007———
Laurie Quinn————$443,348$314,299
Paula Willoquet-Maricondi———$352,534$169,176—
Monique Taylor$299,663$299,475$294,713$134,338——
Leslie Averill$269,409$269,413$272,084$243,180$107,778—

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.

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Governance & Policies

Part VI
  • 31Voting board membersPt VI · Ln 1a
  • 30Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Educates students through undergraduate and graduate degree programs.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $116.6M of program spending, described in the organization's own filed words · FY2023.
01

See schedule o

$89.8Mprogram expense
02

See schedule o

$17.4Mprogram expense
03

See schedule o

$9.4Mprogram expense

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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 3 funders$54K
See all 3 funders →
Grants paid · 21 grants · $236.9M · 2019–2024
Unitemized GrantFY2024$38,298,939
Unitemized GrantFY2024$308,263
Unitemized GrantFY2023$41,601,596
Unitemized GrantFY2023$361,069
Unitemized GrantFY2023$73,800
Unitemized GrantFY2022$39,342,212
Unitemized GrantFY2022$308,263
Unitemized GrantFY2022$73,970
Unitemized GrantFY2021$37,084,147
Unitemized GrantFY2021$2,466,865
Unitemized GrantFY2021$322,676
Unitemized GrantFY2021$207,702
Unitemized GrantFY2020$36,994,025
Unitemized GrantFY2020$1,183,172
Unitemized GrantFY2020$522,255
Unitemized GrantFY2020$293,850
Unitemized GrantFY2019$36,554,646
Unitemized GrantFY2019$417,468
See all 21 grants →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Viewing $136.2M$136.8M+6% 990 PDF
FY2023 $128.5M$129.8M+1% 990 PDF
FY2022 $127.0M$125.8M+6% 990 PDF
FY2021 $119.7M$124.1M-3% 990 PDF
FY2020 $123.9M$123.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $136,765,367 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $42,036,465$42,036,465
IX-3 Grants and assistance to foreign recipientsPrograms $135,078$135,078
IX-5 Pay of current officers, directors and key staffPrograms $816,216 · Management $1,703,559 · Fundraising $399,134$2,918,909
IX-7 Other salaries and wagesPrograms $31,165,813 · Management $5,978,054 · Fundraising $890,544$38,034,411
IX-8 Pension plan contributionsPrograms $2,319,129 · Management $427,838 · Fundraising $62,361$2,809,328
IX-9 Other employee benefitsPrograms $5,413,482 · Management $1,144,223 · Fundraising $180,469$6,738,174
IX-10 Payroll taxesPrograms $2,331,758 · Management $543,309 · Fundraising $89,978$2,965,045
IX-11b Legal feesManagement $138,880$138,880
IX-11c Accounting feesManagement $145,700$145,700
IX-11f Investment management feesManagement $113,540$113,540
IX-12 Advertising and promotionPrograms $6,015,142 · Management $57,742 · Fundraising $1,434$6,074,318
IX-13 Office expensesPrograms $854,540 · Management $260,132 · Fundraising $12,324$1,126,996
IX-14 Information technologyPrograms $788,200 · Management $2,869,529$3,657,729
IX-16 OccupancyPrograms $5,388,329$5,388,329
IX-17 TravelPrograms $483,729 · Management $94,183 · Fundraising $44,999$622,911
IX-20 InterestPrograms $3,090,095 · Management $63,427 · Fundraising $15,857$3,169,379
IX-22 Depreciation, depletion and amortizationPrograms $4,613,908 · Management $1,391,694 · Fundraising $155,848$6,161,450
IX-23 InsurancePrograms $330,704 · Management $496,919$827,623
IX-24 Other expenses (24a–d)Programs $8,644,756 · Management $1,066,600 · Fundraising $107,067$9,818,423
IX-24e All other expensesPrograms $2,181,455 · Management $1,498,512 · Fundraising $202,712$3,882,679
IX-25 Total functional expensesPrograms $116,608,799 · Management $17,993,841 · Fundraising $2,162,727$136,765,367

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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