Champlain College Incorporated FY2023 filing

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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.
86¢ of each $1 spent went to programs.
$3.9M 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 $1.4M a year · 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.9M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $65.9M in investments, Pt X · Ln 11–13
Fine: 0.6 months of spending in cash, plus $65.9M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $54K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$83.4M
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 32 voting members
Looks good: 30 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$128.5M
+1% vs prior year
Spent
$129.8M
To programs
86%
Net assets
$138.2M
By yearFY2020–FY2025
Revenue
$128.5M
FY2023▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$123.9M
FY2021$119.7M
FY2022$127.0M
FY2023$128.5M
FY2024$136.2M
FY2025$122.7M
Expenses
$129.8M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$123.3M
FY2021$124.1M
FY2022$125.8M
FY2023$129.8M
FY2024$136.8M
FY2025$126.8M
Net assets
$138.2M
FY2023▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$145.0M
FY2021$153.1M
FY2022$141.3M
FY2023$138.2M
FY2024$136.6M
FY2025$134.9M

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 Apr 1968.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $111.3M Management & general 13% · $16.4M 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

55 people listed on the 990; $3.9M 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
$322,007Pt VII · Sec A
$294,713Pt VII · Sec A
Vice President
$272,084Pt VII · Sec A
Trustee (as of 10/2022)
$270,822Pt VII · Sec A
Vice President
$240,071Pt VII · Sec A
Vice President
$226,284Pt VII · Sec A
Vice President
$220,466Pt VII · Sec A
Vice President (until 11/2022)
$205,175Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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.

See Champlain College Incorporated 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

Educates students through undergraduate and graduate degree programs.

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3 programs · $111.3M · in their own filed words · FY2022
01

Undergraduate program- the college has five undergraduate campus divisions, including business, communication & creative media, education & human studies, information technology & sciences, and core.

$86.1Mprogram expense
02

Champlain college online (cco) offers undergraduate and graduate programs online to adult learners with degrees in business, cybersecurity, gaming, healthcare and information technology. Cco programs are tailored to the needs of an adult student population; they take into account the value of prior education and professional experiences.

$16.5Mprogram expense
03

Auxiliary enterprises- residential life at champlain college includes 20 traditional residence halls and 9 apartment style housing complexes, each with distinctive architectural features. Each residence has a community-oriented atmosphere.

$8.7Mprogram 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 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 →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $33.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$21.6M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$5.6M
Congressionally-Identified ProjectsDepartment of Commerce · ALN 11.617 · Through Dept of Commerce$5.1M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$308K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$300K

Plus 6 smaller programs.

The auditor reported no findings.

Year ending Jun 2024 · $30.9M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$23.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.5M
Centers for Homeland SecurityDepartment of Homeland Security · ALN 97.061 · Through Dept of Homeland Security$535K
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$442K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$361K

Plus 11 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $30.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$24.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$3.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$714K
Centers for Homeland SecurityDepartment of Homeland Security · ALN 97.061 · Through George Mason$439K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$307K

Plus 9 smaller programs.

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

Year ending Jun 2022 · $36.9M federal money spent
Federal Direct Student Loans (note 2)Department of Education · ALN 84.268 · Direct$25.1M
Educational Stablization FundDepartment of Education · ALN 84.425 · Direct$4.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.GSA_MIGRATION · Direct$4.0M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.2M
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Through State of Vermont$844K

Plus 8 smaller programs.

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$128.5M
Ln 12
Fees for servicesLn 2g$109.2M
Gifts and grantsLn 1h$9.3M
Investment incomeLn 3$7.1M
Money outPt IX
$129.8M
Ln 25
Programscol B$111.3M
Managementcol C$16.4M
Fundraisingcol D$2.2M
Owns and owesPt X
$138.2M
net assets · Ln 32
Cash and savingsLn 1–2$7.0M
Total assetsLn 16$221.6M
LiabilitiesLn 26$83.4M
PeoplePt VI, VII
55
listed · VII A
PaidVII A20
Voting boardVI 1a32
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.3M
Government grantsLn 1e$1.8M
Noncash giftsLn 1g$228K
Fees for servicesLn 2g$109.2M
Investment incomeLn 3$7.1M
Other incomeLn 4–11$2.9M
Gains on assetsLn 7$4.4M
Total revenueLn 12$128.5M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$7.0M
Cash and savings togetherLn 1–2$7.0M
InvestmentsLn 11–13$65.9M
Land, buildings, equipmentLn 10c$135.7M
Other assetsLn 15$0
Total assetsLn 16$221.6M
LiabilitiesLn 26$83.4M
Net assetsLn 32$138.2M
OperationsPt I, VI
EmployeesI 51,540
VolunteersI 629
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$66.6M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$67.8M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$254K
Noncash gifts receivedSch M Pt I$228K
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$27.4M$25.3M$29.7M$23.9M$25.0M
Given inLn 1b$1.1M$278K$415K$93K$148K
SpentLn 1d–1f$1.4M$1.3M$1.2M$999K$822K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$18.9M$7.0M
InvestmentsLn 11–13$64.6M$65.9M
Land, buildings, equipmentLn 10c$133.6M$135.7M
Total assetsLn 16$226.0M$221.6M
LiabilitiesLn 26$84.7M$83.4M
Net assetsLn 32$141.3M$138.2M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$39.7M$39.7M
Grants and assistance to foreign recipientsLn 3$254K$254K
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$2.6M$764K$1.5M$385K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$36.1M$30.5M$4.8M$788K
Pension plan contributionsLn 8$2.6M$2.2M$322K$51K
Other employee benefitsLn 9$6.0M$5.0M$896K$150K
Payroll taxesLn 10$2.8M$2.3M$447K$82K
Management feesLn 11a$0
Legal feesLn 11b$99K$99K
Accounting feesLn 11c$153K$153K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$234K$234K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$4.1M$4.0M$99K$341
Office expensesLn 13$911K$656K$236K$20K
Information technologyLn 14$3.5M$725K$2.7M
RoyaltiesLn 15$0
OccupancyLn 16$5.0M$5.0M
TravelLn 17$721K$485K$146K$90K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$3.2M$3.1M$65K$16K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$6.2M$4.7M$1.3M$168K
InsuranceLn 23$826K$301K$526K
Other expenses (24a–d)Ln 24$10.6M$8.6M$1.5M$436K
All other expensesLn 24e$4.1M$2.9M$1.2M$3K
Total functional expensesLn 25$129.8M$111.3M$16.4M$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 4, 2026 $122.7M$126.8M−$4.2M$134.9M 990 PDF
FY2024Filed with the IRS May 14, 2025 $136.2M$136.8M−$542K$136.6M 990 PDF
FY2023 ViewingFiled with the IRS May 14, 2024 $128.5M$129.8M−$1.3M$138.2M 990 PDF
FY2022 $127.0M$125.8M$1.1M$141.3M 990 PDF
FY2021Filed with the IRS May 9, 2022 $119.7M$124.1M−$4.4M$153.1M 990 PDF
FY2020Filed with the IRS May 10, 2021 $123.9M$123.3M$664K$145.0M 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 $128,478,553 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,043,117$9,255,813
I-9 Program service revenuePrior year $106,534,697$109,206,737
I-10 Investment incomePrior year $5,401,048$7,103,720
I-11 Other revenuePrior year $2,005,565$2,912,283
I-12 Total revenuePrior year $126,984,427$128,478,553
I-13 Grants and similar amounts paidPrior year $40,369,872$39,978,131
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $47,512,602$50,191,368
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $37,965,857$39,657,815
I-18 Total expensesPrior year $125,848,331$129,827,314
I-19 Revenue less expensesPrior year $1,136,096−$1,348,761
Part VI · Governance 30 of 32 board members independent, no flags
VI-1a Voting members of the governing body32
VI-1b Independent voting members30
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 $128,478,553 across 12 lines filed
VIII-1e Government grants$1,800,411
VIII-1f All other contributions, gifts and grants$7,455,402
VIII-1g Noncash contributions (included above)$227,852
VIII-1h Total contributions, gifts and grants$9,255,813
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $109,206,737$109,206,737
VIII-3 Investment incomeExcluded from tax $2,747,060$2,747,060
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $178,595$178,595
VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,356,660$4,356,660
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $201,590 · Unrelated business $529,370 · Excluded from tax $2,002,728$2,733,688
VIII-12 Total revenueRelated to mission $109,408,327 · Unrelated business $529,370 · Excluded from tax $9,285,043$128,478,553
Part IX · Statement of functional expenses $129,827,314 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $39,724,445$39,724,445
IX-3 Grants and assistance to foreign recipientsPrograms $253,686$253,686
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $763,819 · Management $1,476,764 · Fundraising $385,264$2,625,847
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $30,503,834 · Management $4,843,667 · Fundraising $787,933$36,135,434
IX-8 Pension plan contributionsPrograms $2,231,107 · Management $322,154 · Fundraising $51,330$2,604,591
IX-9 Other employee benefitsPrograms $4,968,705 · Management $895,574 · Fundraising $149,813$6,014,092
IX-10 Payroll taxesPrograms $2,282,559 · Management $447,295 · Fundraising $81,550$2,811,404
IX-11a Management fees$0
IX-11b Legal feesManagement $98,751$98,751
IX-11c Accounting feesManagement $153,303$153,303
IX-11d Lobbying fees$0
IX-11f Investment management feesManagement $233,928$233,928
IX-12 Advertising and promotionPrograms $3,969,036 · Management $98,743 · Fundraising $341$4,068,120
IX-13 Office expensesPrograms $655,626 · Management $235,599 · Fundraising $19,654$910,879
IX-14 Information technologyPrograms $724,750 · Management $2,749,515$3,474,265
IX-15 Royalties$0
IX-16 OccupancyPrograms $5,048,457$5,048,457
IX-17 TravelPrograms $484,789 · Management $146,431 · Fundraising $89,895$721,115
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $3,148,360 · Management $64,570 · Fundraising $16,142$3,229,072
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $4,686,417 · Management $1,303,858 · Fundraising $167,786$6,158,061
IX-23 InsurancePrograms $300,954 · Management $525,516$826,470
IX-24 Other expenses (24a–d)Programs $8,612,520 · Management $1,537,573 · Fundraising $435,988$10,586,081
IX-24e All other expensesPrograms $2,904,041 · Management $1,242,413 · Fundraising $2,859$4,149,313
IX-25 Total functional expensesPrograms $111,263,105 · Management $16,375,654 · Fundraising $2,188,555$129,827,314
Part X · Balance sheet $221,563,269 assets, 24 lines filed
Asset lines not itemized here account for $3,718,723; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $18,875,483$7,017,188
X-3 Pledges and grants receivableStart of year $2,136,064$5,262,727
X-4 Accounts receivableStart of year $1,328,924$1,728,266
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $2,157,620$2,245,009
X-10c Land, buildings and equipment, netStart of year $133,577,733$135,727,839
X-11 Publicly traded securitiesStart of year $62,186,912$63,525,985
X-12 Other securitiesStart of year $2,424,163$2,337,532
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $225,972,098$221,563,269
X-17 Accounts payable and accrued expensesStart of year $7,671,332$7,984,340
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $5,975,634$6,094,054
X-20 Tax-exempt bond liabilitiesStart of year $66,726,482$66,639,596
X-24 Unsecured notes and loans payableStart of year $2,855,594$1,423,437
X-25 Other liabilitiesStart of year $1,340,493$1,128,979
X-26 Total liabilitiesStart of year $84,684,483$83,356,738
X-27 Net assets without donor restrictionsStart of year $110,042,161$101,485,457
X-28 Net assets with donor restrictionsStart of year $31,245,454$36,721,074
X-32 Total net assets or fund balancesStart of year $141,287,615$138,206,531
X-33 Total liabilities and net assetsStart of year $225,972,098$221,563,269
Part XI · Reconciliation of net assets $138,206,531 net assets at year end
XI-1 Total revenue$128,478,553
XI-2 Total expenses$129,827,314
XI-3 Revenue less expenses−$1,348,761
XI-4 Net assets at start of year$141,287,615
XI-5 Net unrealized gains (losses) on investments−$1,452,446
XI-9 Other changes in net assets−$279,877
XI-10 Net assets at end of year$138,206,531

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

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