501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 7,681 volunteers and 3,351 employees.
Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
6 of 6
filings with a surplus
Average surplus $102.7M a year · 23% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$8.7M
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
8 mo
of spending, in cash
Plus $4.38B in investments, Pt X · Ln 11–13
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
19
named funders · $474K
Looks good: 19 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1B
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 25 voting members
Looks good: 24 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$528.8M
+18% vs prior year
Spent
$396.6M
To programs
89%
Net assets
$4.4B
By yearFY2020–FY2025
Revenue
$528.8M
FY2025▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$349.9M
FY2021$397.4M
FY2022$557.2M
FY2023$424.1M
FY2024$447.9M
FY2025$528.8M
Expenses
$396.6M
FY2025▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$323.5M
FY2021$310.4M
FY2022$335.6M
FY2023$357.0M
FY2024$366.1M
FY2025$396.6M
Net assets
$4.4B
FY2025▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2B
FY2021$4.4B
FY2022$3.9B
FY2023$3.9B
FY2024$4.1B
FY2025$4.4B

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1934.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $352.2M Management & general 8% · $33.5M Fundraising 3% · $11.0M

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

45 people listed on the 990; $8.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Former Chief Investment Officer (through June 30, 2023)
$1,637,836Pt VII · Sec A
President
$820,656Pt VII · Sec A
Managing Director/Investment Office
$634,016Pt VII · Sec A
Chief Investment Officer (effective July 1, 2023)
$585,520Pt VII · Sec A
VP for Finance & Operations, Treasurer
$579,806Pt VII · Sec A
Director of Investment Operations
$443,751Pt VII · Sec A
VP of College Relations
$428,086Pt VII · Sec A
Managing Dir / COO, Inv Office
$425,021Pt VII · Sec A

Collette Chilton’s $1.6M as Former Chief Investment Officer (through June 30, 2023) is at the 88th 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
Collette Chilton$1,637,836$916,166$1,207,165$1,816,881$1,530,757$1,415,408
Maud Mandel$820,656$674,852$613,569$594,552$561,604$554,405
Julia Crosby——$369,240$779,434$682,233$644,985
Bradford Wakeman$425,021$474,042$549,467$723,305$651,063—
Abigail Wattley$585,520$565,011$590,819$710,446$591,165—
Bradford B Wakeman—————$635,446
Paul Mace$634,016—————
Michael Wagner$579,806$557,196$581,305$252,221——

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 Williams College executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II4 listed

Programs and updates

Provides a comprehensive liberal arts education to undergraduate and graduate students through diverse degree programs in the humanities, social sciences, and natural sciences.

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Provided by the organization

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1 program · $352.2M · in their own filed words · FY2024
01

Williams is an independent liberal arts college for approximately 2,100 full-time undergraduate and 50 graduate students who come from all of the 50 states and countries from around the world.

$352.2Mprogram 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
See all 19 funders →
Grants paid · 102 grants · $378.8M · 2019–2024
Unitemized GrantFY2024$76,324,302
Williamstown Fire DistrictFY2024$1,033,233
Mt Greylock Regional High SchoolFY2024$190,000
Boston Foundation INCMA · FY2024$146,116
Taconic Golf Club INCFY2024$108,886
Center for Ecotechnology INCMA · FY2024$100,000
Williamstown Community ChestMA · FY2024$32,564
Community Images INCMA · FY2024$26,100
NAACP Berkshire County BranchFY2024$13,300
Willinet INCMA · FY2024$10,625
Stockbridge-Munsee CommunityFY2024$8,000
Multicultural BridgeMA · FY2024$8,000
See all 102 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$528.8M
Ln 12
Investment incomeLn 3$240.4M
Fees for servicesLn 2g$190.2M
Gifts and grantsLn 1h$98.1M
Money outPt IX
$396.6M
Ln 25
Programscol B$352.2M
Managementcol C$33.5M
Fundraisingcol D$11.0M
Owns and owesPt X
$4.4B
net assets · Ln 32
Cash and savingsLn 1–2$275.5M
Total assetsLn 16$5.5B
LiabilitiesLn 26$1.1B
PeoplePt VI, VII
45
listed · VII A
PaidVII A21
Voting boardVI 1a25
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$98.1M
Government grantsLn 1e$5.8M
Noncash giftsLn 1g$16.4M
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$190.2M
Investment incomeLn 3$240.4M
Other incomeLn 4–11$68K
Gains on assetsLn 7$226.7M
Total revenueLn 12$528.8M
Assets in detailPt X, end of year
CashLn 1$8.7M
SavingsLn 2$266.8M
Cash and savings togetherLn 1–2$275.5M
InvestmentsLn 11–13$4.38B
Land, buildings, equipmentLn 10c$738.8M
Other assetsLn 15$24.4M
Total assetsLn 16$5.5B
LiabilitiesLn 26$1.1B
Net assetsLn 32$4.4B
OperationsPt I, VI
EmployeesI 53,351
VolunteersI 67,681
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$180.3M$275.5M
InvestmentsLn 11–13$4.07B$4.38B
Land, buildings, equipmentLn 10c$696.0M$738.8M
Total assetsLn 16$5.08B$5.54B
LiabilitiesLn 26$967.0M$1.13B
Net assetsLn 32$4.11B$4.41B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.9M$1.9M
Grants to domestic individualsLn 2$76.3M$76.3M
Grants and assistance to foreign recipientsLn 3$1.8M$1.8M
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$4.2M$1.2M$1.8M$1.2M
Pay of disqualified personsLn 6$514K$475K$39K$0
Other salaries and wagesLn 7$128.8M$109.2M$13.7M$5.9M
Pension plan contributionsLn 8$11.0M$9.4M$909K$654K
Other employee benefitsLn 9$31.9M$26.9M$3.8M$1.2M
Payroll taxesLn 10$9.5M$7.9M$951K$581K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$1.1M$36K$1.0M$0
Accounting feesLn 11c$308K$272K$32K$3K
Lobbying feesLn 11d$194K$173K$15K$7K
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$24.3M$20.7M$2.9M$641K
Advertising and promotionLn 12$497K$291K$202K$5K
Office expensesLn 13$4.2M$4.0M$154K$26K
Information technologyLn 14$4.7M$4.3M$191K$183K
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$8.8M$8.6M$209K$0
TravelLn 17$7.3M$6.4M$464K$444K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$246K$202K$29K$15K
InterestLn 20$13.5M$13.5M$11K$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$28.7M$24.9M$3.7M$16K
InsuranceLn 23$2.6M$25K$2.6M$246
Other expenses (24a–d)Ln 24$25.5M$25.2M$309K$35K
All other expensesLn 24e$8.9M$8.3M$432K$89K
Total functional expensesLn 25$396.6M$352.2M$33.5M$11.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $528.8M$396.6M$132.2M$4.4B 990 PDF
FY2024 $447.9M$366.1M$81.8M$4.1B 990 PDF
FY2023 $424.1M$357.0M$67.1M$3.9B 990 PDF
FY2022 $557.2M$335.6M$221.5M$3.9B 990 PDF
FY2021 $397.4M$310.4M$87.0M$4.4B 990 PDF
FY2020 $349.9M$323.5M$26.4M$3.2B 990 PDF

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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 FY2025 990 (6 parts)
Part I · Summary $528,792,709 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,694,599$98,079,024
I-9 Program service revenuePrior year $176,518,559$190,235,968
I-10 Investment incomePrior year $184,172,321$240,409,443
I-11 Other revenuePrior year −$492,911$68,274
I-12 Total revenuePrior year $447,892,568$528,792,709
I-13 Grants and similar amounts paidPrior year $73,317,642$79,937,160
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $171,686,961$185,860,809
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $121,084,994$130,811,739
I-18 Total expensesPrior year $366,089,597$396,609,708
I-19 Revenue less expensesPrior year $81,802,971$132,183,001
Part VI · Governance 24 of 25 board members independent, 1 to look at
VI-1a Voting members of the governing body25
VI-1b Independent voting members24
VI-2 Family or business relationship among officers or directorsYes
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 $528,792,709 across 15 lines filed
Lines not itemized here account for $4,293,759 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$5,845,381
VIII-1f All other contributions, gifts and grants$92,233,643
VIII-1g Noncash contributions (included above)$16,366,726
VIII-1h Total contributions, gifts and grants$98,079,024
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $186,370,490 · Unrelated business $3,865,478 · Excluded from tax $0$190,235,968
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $9,450,237$9,450,237
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $68,274$68,274
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $59,423,208 · Excluded from tax $167,242,239$226,665,447
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $186,370,490 · Unrelated business $63,288,686 · Excluded from tax $181,054,509$528,792,709
Part IX · Statement of functional expenses $396,609,708 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $1,861,608$1,861,608
IX-2 Grants to domestic individualsPrograms $76,324,302$76,324,302
IX-3 Grants and assistance to foreign recipientsPrograms $1,751,250$1,751,250
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $1,182,128 · Management $1,817,942 · Fundraising $1,200,644$4,200,714
IX-6 Pay of disqualified personsPrograms $475,303 · Management $38,595 · Fundraising $0$513,898
IX-7 Other salaries and wagesPrograms $109,247,916 · Management $13,702,762 · Fundraising $5,877,674$128,828,352
IX-8 Pension plan contributionsPrograms $9,410,080 · Management $908,545 · Fundraising $654,043$10,972,668
IX-9 Other employee benefitsPrograms $26,919,124 · Management $3,756,047 · Fundraising $1,194,822$31,869,993
IX-10 Payroll taxesPrograms $7,943,200 · Management $951,424 · Fundraising $580,560$9,475,184
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $35,721 · Management $1,016,140 · Fundraising $0$1,051,861
IX-11c Accounting feesPrograms $272,428 · Management $32,392 · Fundraising $3,132$307,952
IX-11d Lobbying feesPrograms $172,632 · Management $14,811 · Fundraising $6,978$194,421
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $20,680,515 · Management $2,944,772 · Fundraising $641,183$24,266,470
IX-12 Advertising and promotionPrograms $290,514 · Management $201,848 · Fundraising $4,652$497,014
IX-13 Office expensesPrograms $4,046,598 · Management $153,936 · Fundraising $25,952$4,226,486
IX-14 Information technologyPrograms $4,315,397 · Management $190,705 · Fundraising $182,591$4,688,693
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $8,628,573 · Management $208,988 · Fundraising $0$8,837,561
IX-17 TravelPrograms $6,425,595 · Management $464,340 · Fundraising $443,736$7,333,671
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $202,018 · Management $28,590 · Fundraising $15,347$245,955
IX-20 InterestPrograms $13,524,507 · Management $11,042 · Fundraising $0$13,535,549
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $24,934,776 · Management $3,713,079 · Fundraising $15,617$28,663,472
IX-23 InsurancePrograms $25,289 · Management $2,562,196 · Fundraising $246$2,587,731
IX-24 Other expenses (24a–d)Programs $25,178,995 · Management $308,504 · Fundraising $35,352$25,522,851
IX-24e All other expensesPrograms $8,331,128 · Management $432,037 · Fundraising $88,887$8,852,052
IX-25 Total functional expensesPrograms $352,179,597 · Management $33,458,695 · Fundraising $10,971,416$396,609,708
Part X · Balance sheet $5,540,530,680 assets, 24 lines filed
Asset lines not itemized here account for $13,989,008; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $17,173,404$8,723,672
X-2 Savings and temporary cash investmentsStart of year $163,095,192$266,787,897
X-3 Pledges and grants receivableStart of year $63,551,891$79,950,864
X-4 Accounts receivableStart of year $1,926,859$2,043,339
X-8 Inventories for sale or useStart of year $371,789$394,237
X-9 Prepaid expenses and deferred chargesStart of year $21,779,822$24,771,702
X-10c Land, buildings and equipment, netStart of year $695,982,249$738,807,784
X-11 Publicly traded securitiesStart of year $39,724,949$39,366,536
X-12 Other securitiesStart of year $4,033,354,441$4,340,700,468
X-13 Program-related investmentsStart of year $694,900$545,310
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $24,144,390$24,449,863
X-16 Total assetsStart of year $5,075,834,072$5,540,530,680
X-17 Accounts payable and accrued expensesStart of year $65,665,286$76,473,319
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $1,397,478$832,482
X-20 Tax-exempt bond liabilitiesStart of year $355,877,919$466,021,883
X-24 Unsecured notes and loans payableStart of year $9,030,455$8,718,812
X-25 Other liabilitiesStart of year $479,514,093$524,582,902
X-26 Total liabilitiesStart of year $967,033,419$1,131,930,171
X-27 Net assets without donor restrictionsStart of year $699,391,183$740,342,583
X-28 Net assets with donor restrictionsStart of year $3,409,409,470$3,668,257,926
X-32 Total net assets or fund balancesStart of year $4,108,800,653$4,408,600,509
X-33 Total liabilities and net assetsStart of year $5,075,834,072$5,540,530,680
Part XI · Reconciliation of net assets $4,408,600,509 net assets at year end
XI-1 Total revenue$528,792,709
XI-2 Total expenses$396,609,708
XI-3 Revenue less expenses$132,183,001
XI-4 Net assets at start of year$4,108,800,653
XI-5 Net unrealized gains (losses) on investments$169,708,127
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$2,091,272
XI-10 Net assets at end of year$4,408,600,509

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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