Keystone College FY2021 filing

La Plume, PAHigher education institutionSince 1935 EIN 24-0795441Revenue $32.3M in FY2021

On file with the IRSkeystone.eduOne College Green · La Plume, PA

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Educating students in a liberal arts tradition fostering a global perspective on life-long learning.

81¢ of each $1 spent went to programs.
$564K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
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
1 of 6
filings with a surplus
Average deficit $2.3M a year · 8% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$564K
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 $3.8M in investments, Pt X · Ln 11–13
Fine: 0.5 months of spending in cash, plus $3.8M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $700
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$22.6M
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$32.3M
-19% vs prior year
Spent
$30.1M
To programs
81%
Net assets
$13.4M
By yearFY2020–FY2025
Revenue
$32.3M
FY2021▼ -19%
Tap a bar for its year
Revenue by fiscal year
FY2020$39.7M
FY2021$32.3M
FY2022$30.1M
FY2023$23.9M
FY2024$24.8M
FY2025$24.6M
Expenses
$30.1M
FY2021▼ -27%
Tap a bar for its year
Expenses by fiscal year
FY2020$41.0M
FY2021$30.1M
FY2022$32.6M
FY2023$29.6M
FY2024$31.0M
FY2025$25.0M
Net assets
$13.4M
FY2021▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$10.8M
FY2021$13.4M
FY2022$14.0M
FY2023$9.1M
FY2024$3.5M
FY2025$0

From the FY2021 Form 990 (year ending May 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $24.5M Management & general 18% · $5.5M Fundraising 0% · $38K

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

20 people listed on the 990; $564K 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
$227,998Pt VII · Sec A
VP of Finance and Administration
$146,242Pt VII · Sec A
VP for Institutional Advancement
$124,353Pt VII · Sec A
Provost/VP for Acad. Affairs (until 6/21)
$65,814Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair Elect
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
John Pullo—$240,000$240,000———
Tracy Brundage———$227,998$227,998$201,764
John F Pullo$154,167—————
F Stuart Renda——$138,068$146,242$146,242$138,378
Tracy Brundage Terminated 7292022——$140,350———
Karen K Yarrish————$65,814$138,377
Janine Becker—————$136,288
Frances Langan—$120,000$116,916$124,353$124,353$109,145

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

Educates students in liberal arts, fostering a global perspective for lifelong learning.

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Provided by the organization

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1 program · $24.5M · in their own filed words · FY2020
01

Keystone college is a vibrant and diverse campus whereby our graduates are life-long learners who are actively engaged, contribute to their communities, and thrive in the world. Nearly 1,400 students come from nearby states such as new york, new jersey, and maryland, as well as nationally and internationally.

$24.5Mprogram 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$700
Grants paid · 11 grants · $37.8M · 2019–2024
Unitemized GrantFY2024$3,563,979
Unitemized GrantFY2023$4,703,899
Unitemized GrantFY2022$4,018,564
Unitemized GrantFY2022$2,398,008
Unitemized GrantFY2021$3,514,308
Unitemized GrantFY2020$5,489,683
Unitemized GrantFY2019$13,109,767
Unitemized GrantFY2019$736,607
Unitemized GrantFY2019$132,750
Unitemized GrantFY2019$95,089
Unitemized GrantFY2019$30,759

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$32.3M
Ln 12
Fees for servicesLn 2g$22.2M
Gifts and grantsLn 1h$7.3M
Other incomeLn 4–11$2.8M
Money outPt IX
$30.1M
Ln 25
Programscol B$24.5M
Managementcol C$5.5M
Fundraisingcol D$38K
Owns and owesPt X
$13.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$36.0M
LiabilitiesLn 26$22.6M
PeoplePt VI, VII
20
listed · VII A
PaidVII A4
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.3M
Government grantsLn 1e$6.5M
Fees for servicesLn 2g$22.2M
Investment incomeLn 3$20K
Other incomeLn 4–11$2.8M
Gains on assetsLn 7$15K
Total revenueLn 12$32.3M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$3.8M
Land, buildings, equipmentLn 10c$26.1M
Other assetsLn 15$2.8M
Total assetsLn 16$36.0M
LiabilitiesLn 26$22.6M
Net assetsLn 32$13.4M
OperationsPt I, VI
EmployeesI 5502
VolunteersI 622
Fiscal year endsHeaderMay
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 FY21End FY21
Cash and savingsLn 1–2$2.9M$1.3M
InvestmentsLn 11–13$4.8M$3.8M
Land, buildings, equipmentLn 10c$27.2M$26.1M
Total assetsLn 16$39.1M$36.0M
LiabilitiesLn 26$28.3M$22.6M
Net assetsLn 32$10.8M$13.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$5.5M$5.5M
Pay of current officers, directors and key staffLn 5$493K$384K$108K
Other salaries and wagesLn 7$8.4M$6.5M$1.8M
Pension plan contributionsLn 8$41K$32K$9K
Other employee benefitsLn 9$1.3M$1.0M$286K
Payroll taxesLn 10$1.0M$819K$231K
Legal feesLn 11b$98K$98K
Accounting feesLn 11c$78K$78K
Investment management feesLn 11f$6K$6K
Other fees for servicesLn 11g$3.0M$2.4M$666K
Advertising and promotionLn 12$288K$225K$63K
Office expensesLn 13$831K$619K$175K$38K
Information technologyLn 14$202K$157K$44K
OccupancyLn 16$2.4M$1.9M$530K
TravelLn 17$89K$70K$20K
Conferences, conventions and meetingsLn 19$9K$7K$2K
Depreciation, depletion and amortizationLn 22$2.4M$1.8M$520K
InsuranceLn 23$391K$305K$86K
Other expenses (24a–d)Ln 24$2.8M$2.2M$609K
All other expensesLn 24e$761K$593K$167K
Total functional expensesLn 25$30.1M$24.5M$5.5M$38K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $24.6M$25.0M−$451K$0 990 PDF
FY2024 $24.8M$31.0M−$6.2M$3.5M 990 PDF
FY2023 $23.9M$29.6M−$5.7M$9.1M 990 PDF
FY2022 $30.1M$32.6M−$2.6M$14.0M 990 PDF
FY2021 Viewing $32.3M$30.1M$2.2M$13.4M 990 PDF
FY2020 $39.7M$41.0M−$1.3M$10.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $32,307,027 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,791,072$7,335,848
I-9 Program service revenuePrior year $33,071,980$22,186,608
I-10 Investment incomePrior year $342,686$19,908
I-11 Other revenuePrior year $473,074$2,764,663
I-12 Total revenuePrior year $39,678,812$32,307,027
I-13 Grants and similar amounts paidPrior year $14,107,072$5,489,683
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $12,826,181$11,270,104
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,036,772$13,322,871
I-18 Total expensesPrior year $40,970,025$30,082,658
I-19 Revenue less expensesPrior year −$1,291,213$2,224,369
Part VI · Governance 15 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
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 $32,307,027 across 11 lines filed
Lines not itemized here account for $126,984 of total revenue; see the IRS return.
VIII-1a Federated campaigns$10,000
VIII-1e Government grants$6,454,381
VIII-1f All other contributions, gifts and grants$871,467
VIII-1h Total contributions, gifts and grants$7,335,848
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $22,186,608$22,186,608
VIII-3 Investment incomeExcluded from tax $4,493$4,493
VIII-6 Net rental income or lossExcluded from tax $933$933
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,415$15,415
VIII-8 Net income from fundraising eventsExcluded from tax $2,600$2,600
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,634,146$2,634,146
VIII-12 Total revenueRelated to mission $22,186,608 · Unrelated business $0 · Excluded from tax $2,784,571$32,307,027
Part IX · Statement of functional expenses $30,082,658 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $5,489,683$5,489,683
IX-5 Pay of current officers, directors and key staffPrograms $384,407 · Management $108,422$492,829
IX-7 Other salaries and wagesPrograms $6,542,466 · Management $1,845,311$8,387,777
IX-8 Pension plan contributionsPrograms $31,991 · Management $9,023$41,014
IX-9 Other employee benefitsPrograms $1,013,223 · Management $285,781$1,299,004
IX-10 Payroll taxesPrograms $818,594 · Management $230,886$1,049,480
IX-11b Legal feesManagement $98,091$98,091
IX-11c Accounting feesManagement $77,828$77,828
IX-11f Investment management feesManagement $5,838$5,838
IX-11g Other fees for servicesPrograms $2,360,322 · Management $665,732$3,026,054
IX-12 Advertising and promotionPrograms $224,947 · Management $63,446$288,393
IX-13 Office expensesPrograms $618,842 · Management $174,546 · Fundraising $37,579$830,967
IX-14 Information technologyPrograms $157,419 · Management $44,400$201,819
IX-16 OccupancyPrograms $1,878,846 · Management $529,931$2,408,777
IX-17 TravelPrograms $69,632 · Management $19,640$89,272
IX-19 Conferences, conventions and meetingsPrograms $6,908 · Management $1,949$8,857
IX-22 Depreciation, depletion and amortizationPrograms $1,844,925 · Management $520,363$2,365,288
IX-23 InsurancePrograms $304,921 · Management $86,003$390,924
IX-24 Other expenses (24a–d)Programs $2,160,804 · Management $609,457$2,770,261
IX-24e All other expensesPrograms $593,192 · Management $167,310$760,502
IX-25 Total functional expensesPrograms $24,501,122 · Management $5,543,957 · Fundraising $37,579$30,082,658
Part X · Balance sheet $35,973,065 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $2,881,493$1,286,908
X-3 Pledges and grants receivableStart of year $315,065$166,771
X-4 Accounts receivableStart of year $930,820$1,266,819
X-8 Inventories for sale or useStart of year $154,506$164,325
X-9 Prepaid expenses and deferred chargesStart of year $509,935$438,816
X-10c Land, buildings and equipment, netStart of year $27,158,830$26,123,666
X-11 Publicly traded securitiesStart of year $3,908,781$2,908,781
X-13 Program-related investmentsStart of year $879,980$848,382
X-15 Other assetsStart of year $2,407,990$2,768,597
X-16 Total assetsStart of year $39,147,400$35,973,065
X-17 Accounts payable and accrued expensesStart of year $3,420,067$2,084,420
X-19 Deferred revenueStart of year $3,999,509$4,414,148
X-24 Unsecured notes and loans payableStart of year $3,500,000$2,424,414
X-25 Other liabilitiesStart of year $3,568,154$3,404,006
X-26 Total liabilitiesStart of year $28,339,964$22,574,253
X-27 Net assets without donor restrictionsStart of year $1,539,630$3,715,372
X-28 Net assets with donor restrictionsStart of year $9,267,806$9,683,440
X-32 Total net assets or fund balancesStart of year $10,807,436$13,398,812
X-33 Total liabilities and net assetsStart of year $39,147,400$35,973,065
Part XI · Reconciliation of net assets $13,398,812 net assets at year end
XI-1 Total revenue$32,307,027
XI-2 Total expenses$30,082,658
XI-3 Revenue less expenses$2,224,369
XI-4 Net assets at start of year$10,807,436
XI-9 Other changes in net assets$367,007
XI-10 Net assets at end of year$13,398,812

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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