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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1938.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
78 cents of each dollar spent went to programs.
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
47 people listed on the 990; $4.1M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President and Trustee
$545,652Pt VII · Sec A
VP for Alumnae Affairs and Dev
$332,614Pt VII · Sec A
VP for Fin and Admin
$277,255Pt VII · Sec A
Dean of Faculty
$255,903Pt VII · Sec A
Professor of Music
$236,909Pt VII · Sec A
VP for Tech and Hr; Chief Information Officer
$234,850Pt VII · Sec A
Dean of College
$229,450Pt VII · Sec A
Professor of History
$226,345Pt VII · Sec A
Professor of Economics
$224,311Pt VII · Sec A
Dean of Str Plan and Acad Res
$216,696Pt VII · Sec A
Director of Human Resources
$213,143Pt VII · Sec A
VP for Communications
$205,837Pt VII · Sec A
Professor of English
$204,580Pt VII · Sec A
Dean of Admissions and Student Fin Services
$201,531Pt VII · Sec A
VP for Fin and Admin
$188,217Pt VII · Sec A
Controller
$150,593Pt VII · Sec A
Secretary of the Board
$117,812Pt VII · Sec A
Trustee and Committee Chair
$0Pt VII · Sec A
Trustee and Committee Chair
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee and Committee Chair
$0Pt VII · Sec A
Trustee and Committee Chair
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Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Elizabeth Howe Bradley | $722,334 | $673,418 | $641,989 | $570,677 | $545,652 | $530,528 |
| Timothy Kane | $407,033 | $364,752 | $352,350 | $332,982 | $332,614 | — |
| Bryan a Swarthout | $370,963 | $337,048 | $304,063 | $287,597 | $277,255 | — |
| Tim Kane | — | — | — | — | — | $336,464 |
| Stephen Dahnert - Through 01 2020 | — | — | — | — | $188,217 | $315,255 |
| William Hoynes | $315,064 | $289,593 | $279,365 | $261,056 | $255,903 | — |
| Carlos Leoncio Garcia - VP for | $307,200 | — | — | — | — | — |
| Carlos Alamo | $304,569 | $279,348 | $264,129 | $245,490 | $229,450 | $222,146 |
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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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
Provides a liberal education to inspire purposeful lives and engaged citizenship.
Questions for Vassar College
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Provided by the organization
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3 programs · $199.9M · in their own filed words · FY2020
01
Instruction
Vassar students choose among 30 departments, 4 interdepartmental programs, 13 multidisciplinary programs, 51 majors, and approximately 1,000 courses to chart a rigorous course of study that explores their most compelling interests.
$143.1Mprogram expense
02
Student Services
As a residential college, Vassar is committed to providing support services to help students make the most of their time at Vassar. The Office of the Dean of the College oversees and coordinates services that directly impact the quality of student life, both academic and non-academic.
$29.7Mprogram expense
03
Academic Services
Advising and support services to provide guidance to our students to help them accomplish their goals. The mission of the academic services division is to ensure and to strengthen their fulfilling experience as a Vassar student.
$27.1Mprogram 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
The Pacific View FoundationFY2025$767K
Cerimon FundFY2025$21K
Utopia FundFY2025$20K
Hispanic Scholarship FundFY2025$14K
The Ayco Charitable FoundationFY2025$13K
Cook Family FoundationFY2025$10K
Alex J Ettl FoundationFY2025$6K
Total grants receivedfrom 17 funders$868K
Grants paid · 45 grants · $440.0M · 2019–2024
Unitemized GrantFY2024$83,027,730
Unitemized GrantFY2024$874,397
Climate Vault INCIL · FY2024$101,230
Unitemized GrantFY2024$38,918
The Art Effect of the Hudson Valley INCNY · FY2024$9,000
Ulster Immigrant Defense Network INCNY · FY2024$6,610
Dutchess County Pride Center INCNY · FY2024$6,610
Brielle Grace Breast Cancer Foundation INCNY · FY2024$6,610
Angels of Light INCNY · FY2024$6,610
Unitemized GrantFY2023$73,557,040
Unitemized GrantFY2023$1,051,176
Unitemized GrantFY2023$142,846
Climate Vault INCIL · FY2023$98,770
Finish Strong Wellness Center INCNY · FY2023$9,128
Hudson River HousingNY · FY2023$8,568
Dutchess County Pride Center INCNY · FY2023$7,128
Community Matters 2 INCNY · FY2023$5,500
Unitemized GrantFY2022$70,422,205
By the numbers
The FY2021 990, line by line.
Download 990
1The main four
Money inPt VIII
$315.0M
Ln 12
Fees for servicesLn 2g$177.5M
Investment incomeLn 3$92.1M
Gifts and grantsLn 1h$43.7M
Money outPt IX
$284.0M
Ln 25
Programscol B$221.0M
Managementcol C$52.7M
Fundraisingcol D$10.3M
Owns and owesPt X
$1.6B
net assets · Ln 32
Cash and savingsLn 1–2$111.7M
Total assetsLn 16$2.0B
LiabilitiesLn 26$378.0M
PeoplePt VI, VII
47
listed · VII A
PaidVII A17
Voting boardVI 1a31
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$43.7M
Government grantsLn 1e$4.6M
Noncash giftsLn 1g$6.4M
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$177.5M
Investment incomeLn 3$92.1M
Other incomeLn 4–11$1.7M
Gains on assetsLn 7$82.0M
Total revenueLn 12$315.0M
Assets in detailPt X, end of year
CashLn 1$30.8M
SavingsLn 2$80.9M
Cash and savings togetherLn 1–2$111.7M
InvestmentsLn 11–13$1.36B
Land, buildings, equipmentLn 10c$457.7M
Other assetsLn 15$13.5M
Total assetsLn 16$2.0B
LiabilitiesLn 26$378.0M
Net assetsLn 32$1.6B
OperationsPt I, VI
EmployeesI 53,715
VolunteersI 61,425
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
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $82.0M | $111.7M |
| InvestmentsLn 11–13 | $1.08B | $1.36B |
| Land, buildings, equipmentLn 10c | $463.8M | $457.7M |
| Total assetsLn 16 | $1.66B | $1.96B |
| LiabilitiesLn 26 | $384.3M | $378.0M |
| Net assetsLn 32 | $1.28B | $1.59B |
4Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $118K | $118K | ||
| Grants to domestic individualsLn 2 | $66.8M | $66.8M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $3.5M | $2.0M | $881K | $570K |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $89.7M | $71.8M | $13.5M | $4.5M |
| Pension plan contributionsLn 8 | $7.0M | $5.8M | $871K | $349K |
| Other employee benefitsLn 9 | $24.4M | $20.2M | $3.1M | $1.2M |
| Payroll taxesLn 10 | $6.3M | $5.1M | $950K | $317K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $621K | $0 | $621K | $0 |
| Accounting feesLn 11c | $265K | $0 | $265K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $57K | $57K | ||
| Investment management feesLn 11f | $18.2M | $0 | $18.2M | $0 |
| Other fees for servicesLn 11g | $4.9M | $2.9M | $243K | $1.7M |
| Advertising and promotionLn 12 | $36K | $26K | $2K | $8K |
| Office expensesLn 13 | $7.9M | $4.8M | $2.8M | $333K |
| Information technologyLn 14 | $3.9M | $3.9M | $648 | $125 |
| RoyaltiesLn 15 | $15K | $7K | $8K | $0 |
| OccupancyLn 16 | $7.7M | $4.8M | $2.9M | $77K |
| TravelLn 17 | $926K | $574K | $102K | $250K |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $683K | $310K | $262K | $111K |
| InterestLn 20 | $11.3M | $9.0M | $2.1M | $233K |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $17.9M | $14.2M | $3.3M | $372K |
| InsuranceLn 23 | $1.1M | $235K | $700K | $164K |
| Other expenses (24a–d)Ln 24 | $9.8M | $7.9M | $1.9M | $35K |
| All other expensesLn 24e | $703K | $530K | $140K | $33K |
| Total functional expensesLn 25 | $284.0M | $221.0M | $52.7M | $10.3M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $371.1M | $352.9M | $18.1M | $1.7B | 990 PDF |
| FY2024 | $327.5M | $321.6M | $5.9M | $1.6B | 990 PDF |
| FY2023 | $284.4M | $305.4M | −$20.9M | $1.5B | 990 PDF |
| FY2022 | $307.2M | $294.8M | $12.4M | $1.4B | 990 PDF |
| FY2021 Viewing | $315.0M | $284.0M | $31.0M | $1.6B | 990 PDF |
| FY2020 | $260.0M | $277.2M | −$17.3M | $1.3B | 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
See the full FY2021 990 (6 parts)
Part I · Summary $315,019,195 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $39,748,818$43,734,745
I-9 Program service revenuePrior year $177,846,880$177,507,735
I-10 Investment incomePrior year $39,677,356$92,101,491
I-11 Other revenuePrior year $2,721,224$1,675,224
I-12 Total revenuePrior year $259,994,278$315,019,195
I-13 Grants and similar amounts paidPrior year $71,644,010$66,955,701
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $123,714,818$130,931,848
I-16a Professional fundraising feesPrior year $118,472$56,673
I-17 Other expensesPrior year $81,768,288$86,079,598
I-18 Total expensesPrior year $277,245,588$284,023,820
I-19 Revenue less expensesPrior year −$17,251,310$30,995,375
Part VI · Governance 30 of 31 board members independent, no flags
VI-1a Voting members of the governing body31
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 $315,019,195 across 16 lines filed
Lines not itemized here account for $90,285 of total revenue; see the IRS return.
VIII-1a Federated campaigns$80,685
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$4,585,849
VIII-1f All other contributions, gifts and grants$39,068,211
VIII-1g Noncash contributions (included above)$6,364,681
VIII-1h Total contributions, gifts and grants$43,734,745
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $177,507,735 · Unrelated business $0 · Excluded from tax $0$177,507,735
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $390,009 · Excluded from tax $9,753,783$10,143,792
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 $737,721$737,721
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $913,043 · Excluded from tax $81,044,656$81,957,699
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $728,355 · Unrelated business $0 · Excluded from tax $118,863$847,218
VIII-12 Total revenueRelated to mission $178,326,375 · Unrelated business $1,303,052 · Excluded from tax $91,655,023$315,019,195
Part IX · Statement of functional expenses $284,023,820 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $117,537$117,537
IX-2 Grants to domestic individualsPrograms $66,838,164$66,838,164
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $2,040,766 · Management $881,226 · Fundraising $570,331$3,492,323
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $71,766,009 · Management $13,456,127 · Fundraising $4,485,376$89,707,512
IX-8 Pension plan contributionsPrograms $5,751,598 · Management $871,454 · Fundraising $348,582$6,971,634
IX-9 Other employee benefitsPrograms $20,151,673 · Management $3,053,284 · Fundraising $1,221,314$24,426,271
IX-10 Payroll taxesPrograms $5,067,287 · Management $950,116 · Fundraising $316,705$6,334,108
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $620,852 · Fundraising $0$620,852
IX-11c Accounting feesPrograms $0 · Management $265,077 · Fundraising $0$265,077
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $56,673$56,673
IX-11f Investment management feesPrograms $0 · Management $18,218,496 · Fundraising $0$18,218,496
IX-11g Other fees for servicesPrograms $2,918,309 · Management $243,192 · Fundraising $1,702,347$4,863,848
IX-12 Advertising and promotionPrograms $26,235 · Management $1,822 · Fundraising $8,381$36,438
IX-13 Office expensesPrograms $4,815,636 · Management $2,782,850 · Fundraising $332,756$7,931,242
IX-14 Information technologyPrograms $3,917,612 · Management $648 · Fundraising $125$3,918,385
IX-15 RoyaltiesPrograms $7,071 · Management $7,628 · Fundraising $0$14,699
IX-16 OccupancyPrograms $4,794,134 · Management $2,861,016 · Fundraising $77,325$7,732,475
IX-17 TravelPrograms $573,851 · Management $101,812 · Fundraising $249,903$925,566
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $310,443 · Management $261,837 · Fundraising $110,643$682,923
IX-20 InterestPrograms $8,969,695 · Management $2,093,726 · Fundraising $232,636$11,296,057
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $14,228,673 · Management $3,348,557 · Fundraising $372,062$17,949,292
IX-23 InsurancePrograms $234,841 · Management $700,243 · Fundraising $164,403$1,099,487
IX-24 Other expenses (24a–d)Programs $7,922,329 · Management $1,864,366 · Fundraising $34,675$9,821,370
IX-24e All other expensesPrograms $529,784 · Management $140,193 · Fundraising $33,414$703,391
IX-25 Total functional expensesPrograms $220,981,647 · Management $52,724,522 · Fundraising $10,317,651$284,023,820
Part X · Balance sheet $1,964,941,927 assets, 24 lines filed
Asset lines not itemized here account for $2,087,082; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $12,819,582$30,816,978
X-2 Savings and temporary cash investmentsStart of year $69,133,148$80,924,848
X-3 Pledges and grants receivableStart of year $13,838,558$13,865,648
X-4 Accounts receivableStart of year $369,699$241,863
X-8 Inventories for sale or useStart of year $914,599$850,431
X-9 Prepaid expenses and deferred chargesStart of year $7,680,960$4,386,356
X-10c Land, buildings and equipment, netStart of year $463,836,370$457,703,743
X-11 Publicly traded securitiesStart of year $268,367,717$301,092,779
X-12 Other securitiesStart of year $815,123,177$1,059,479,340
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $8,574,052$13,492,859
X-16 Total assetsStart of year $1,663,039,023$1,964,941,927
X-17 Accounts payable and accrued expensesStart of year $22,501,414$29,778,998
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $3,870,594$3,025,075
X-20 Tax-exempt bond liabilitiesStart of year $269,929,969$268,605,955
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $87,991,665$76,597,167
X-26 Total liabilitiesStart of year $384,293,642$378,007,195
X-27 Net assets without donor restrictionsStart of year $261,041,062$340,134,264
X-28 Net assets with donor restrictionsStart of year $1,017,704,319$1,246,800,468
X-32 Total net assets or fund balancesStart of year $1,278,745,381$1,586,934,732
X-33 Total liabilities and net assetsStart of year $1,663,039,023$1,964,941,927
Part XI · Reconciliation of net assets $1,586,934,732 net assets at year end
XI-1 Total revenue$315,019,195
XI-2 Total expenses$284,023,820
XI-3 Revenue less expenses$30,995,375
XI-4 Net assets at start of year$1,278,745,381
XI-5 Net unrealized gains (losses) on investments$260,221,012
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$16,972,964
XI-10 Net assets at end of year$1,586,934,732
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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