Chartered in 1826, Lafayette College is dedicated to excellence in undergraduate education. Students are engaged in a transformative educational experience that bridges the liberal arts, engineering, and interdisciplinary study. The College fosters (continued in sch o) intellectual inquiry, artistic exploration, scholarship, and personal growth in a vibrant, diverse, and inclusive community. Lafayette students become critical thinkers, creative problem-solvers, and responsible citizens of the world.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Run by 3,961 volunteers and 2,602 employees.
Mission: Form 990 Part I, line 1 · 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
4 of 6
filings with a surplus
Average surplus $13.6M a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5.9M
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
3 mo
of spending, in cash
Plus $1.23B in investments, Pt X · Ln 11–13
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $47K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$364.3M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
33
of 34 voting members
Looks good: 33 of 34 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$335.2M
+28% vs prior year
Spent
$292.3M
To programs
87%
Net assets
$1.5B
By yearFY2020–FY2025
Revenue
$335.2M
FY2025▲ +28%
Tap a bar for its year
Revenue by fiscal year
FY2020$228.5M
FY2021$234.2M
FY2022$266.4M
FY2023$259.0M
FY2024$262.5M
FY2025$335.2M
Expenses
$292.3M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$228.6M
FY2021$205.6M
FY2022$241.2M
FY2023$258.4M
FY2024$278.3M
FY2025$292.3M
Net assets
$1.5B
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.0B
FY2021$1.2B
FY2022$1.2B
FY2023$1.3B
FY2024$1.4B
FY2025$1.5B

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 Dec 1942.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $254.9M Management & general 11% · $32.7M Fundraising 2% · $4.7M

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

49 people listed on the 990; $5.9M 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
President
$1,027,882Pt VII · Sec A
Chief Investment Officer
$960,549Pt VII · Sec A
Director of Investments
$482,908Pt VII · Sec A
Dir. of Investments (thru 05/2025)
$468,437Pt VII · Sec A
EVP Finance & Administration
$413,852Pt VII · Sec A
Director of Athletics
$308,955Pt VII · Sec A
Kirby Professor of Government & Law
$287,659Pt VII · Sec A
Of Gov.& Public Svcs.
$279,876Pt VII · Sec A

Nicole F Hurd’s $1.0M as President is at the 76th 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
Alison R Byerly———$1,723,521$616,685$816,569
Nicole F Hurd$1,027,882$906,957$703,898———
Krishna Memani$960,549$939,939$838,895$714,170$84,062—
Mervin a Burton———$517,739$455,192$425,830
Joseph S Bohrer————$345,785$516,641
John R Dailey$482,908$505,701$400,623———
Roger a Demareski———$418,890$452,323$476,875
Li Zhao$468,437$462,824$385,306$350,127$309,681$278,884

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 Lafayette 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

Programs and updates

Provides a four-year undergraduate education on a residential campus, combining rigorous academics with diverse extracurriculars, athletics, and community-building opportunities.

Questions for Lafayette College

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2 programs · $254.9M · in their own filed words · FY2024
01

Lafayette college is a liberal arts college offering bachelor of arts engineering, natural sciences, and social sciences. In fall 2024, the 2,750 students came from 44 states and 47 countries. The student-to-faculty ratio at the college is approximately 10 to 1. Of the 259 full-time faculty, 252 hold a doctorate or other terminal degree.

$214.6Mprogram expense
02

As a residential college, lafayette students complement their academic. Scholarship with a myriad of opportunities to connect with one another and learn from the large world represented on the college's campus.

$40.3Mprogram 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 5 funders →
Grants paid · 24 grants · $320.9M · 2019–2024
Unitemized GrantFY2024$73,191,337
Unitemized GrantFY2024$1,080,994
South Dakota State UniversityFY2024$60,618
Unitemized GrantFY2023$70,128,753
Unitemized GrantFY2023$863,865
South Dakota State UniversityFY2023$68,810
Syracuse UniversityNY · FY2023$11,609
University of Maryland Baltimore CountyFY2023$5,985
Unitemized GrantFY2022$63,594,752
Unitemized GrantFY2022$631,904
Syracuse UniversityNY · FY2022$48,719
University of Maryland Baltimore CountyFY2022$16,919
Unitemized GrantFY2021$60,726,297
Unitemized GrantFY2021$1,786,789
Unitemized GrantFY2021$406,225
Unitemized GrantFY2020$46,515,563
Unitemized GrantFY2020$926,179
Unitemized GrantFY2020$190,684
See all 24 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$335.2M
Ln 12
Fees for servicesLn 2g$222.7M
Investment incomeLn 3$65.2M
Gifts and grantsLn 1h$43.4M
Money outPt IX
$292.3M
Ln 25
Programscol B$254.9M
Managementcol C$32.7M
Fundraisingcol D$4.7M
Owns and owesPt X
$1.5B
net assets · Ln 32
Cash and savingsLn 1–2$81.5M
Total assetsLn 16$1.8B
LiabilitiesLn 26$364.3M
PeoplePt VI, VII
49
listed · VII A
PaidVII A16
Voting boardVI 1a34
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$43.4M
Government grantsLn 1e$3.5M
Noncash giftsLn 1g$7.1M
Fundraising eventsLn 1c$31K
Fees for servicesLn 2g$222.7M
Investment incomeLn 3$65.2M
Other incomeLn 4–11$3.9M
Gains on assetsLn 7$51.8M
Total revenueLn 12$335.2M
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$81.5M
Cash and savings togetherLn 1–2$81.5M
InvestmentsLn 11–13$1.23B
Land, buildings, equipmentLn 10c$494.4M
Other assetsLn 15$9.5M
Total assetsLn 16$1.8B
LiabilitiesLn 26$364.3M
Net assetsLn 32$1.5B
OperationsPt I, VI
EmployeesI 52,602
VolunteersI 63,961
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$73.6M$81.5M
InvestmentsLn 11–13$1.15B$1.23B
Land, buildings, equipmentLn 10c$483.1M$494.4M
Total assetsLn 16$1.74B$1.84B
LiabilitiesLn 26$371.6M$364.3M
Net assetsLn 32$1.37B$1.48B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$61K$61K
Grants to domestic individualsLn 2$74.3M$74.3M
Pay of current officers, directors and key staffLn 5$5.5M$1.6M$4.0M
Pay of disqualified personsLn 6$426K$426K
Other salaries and wagesLn 7$80.0M$66.2M$11.2M$2.6M
Pension plan contributionsLn 8$7.1M$5.8M$1.1M$228K
Other employee benefitsLn 9$14.5M$11.6M$2.4M$519K
Payroll taxesLn 10$5.9M$4.7M$1.0M$180K
Legal feesLn 11b$811K$20K$783K$8K
Accounting feesLn 11c$231K$231K
Lobbying feesLn 11d$10K$10K
Professional fundraising feesLn 11e$580K$580K
Investment management feesLn 11f$343K$343K
Other fees for servicesLn 11g$18.0M$15.1M$2.9M$59K
Advertising and promotionLn 12$233K$127K$106K
Office expensesLn 13$3.5M$2.6M$696K$210K
Information technologyLn 14$3.6M$426K$3.1M$66K
OccupancyLn 16$8.1M$7.0M$1.1M
TravelLn 17$6.2M$5.4M$687K$106K
Conferences, conventions and meetingsLn 19$3.3M$1.6M$1.6M$62K
InterestLn 20$11.1M$10.4M$690K
Depreciation, depletion and amortizationLn 22$20.7M$18.8M$1.9M
InsuranceLn 23$3.6M$444K$3.2M
Other expenses (24a–d)Ln 24$17.9M$24.2M−$6.3M$85
All other expensesLn 24e$6.3M$4.6M$1.6M$84K
Total functional expensesLn 25$292.3M$254.9M$32.7M$4.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $335.2M$292.3M$43.0M$1.5B 990 PDF
FY2024 $262.5M$278.3M−$15.8M$1.4B 990 PDF
FY2023 $259.0M$258.4M$559K$1.3B 990 PDF
FY2022 $266.4M$241.2M$25.2M$1.2B 990 PDF
FY2021 $234.2M$205.6M$28.6M$1.2B 990 PDF
FY2020 $228.5M$228.6M−$131K$1.0B 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 M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $335,226,661 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $28,947,436$43,415,297
I-9 Program service revenuePrior year $212,626,962$222,680,307
I-10 Investment incomePrior year $18,488,433$65,249,617
I-11 Other revenuePrior year $2,454,477$3,881,440
I-12 Total revenuePrior year $262,517,308$335,226,661
I-13 Grants and similar amounts paidPrior year $71,079,022$74,332,949
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $107,675,640$113,419,523
I-16a Professional fundraising feesPrior year $765,702$579,805
I-17 Other expensesPrior year $98,762,265$103,939,386
I-18 Total expensesPrior year $278,282,629$292,271,663
I-19 Revenue less expensesPrior year −$15,765,321$42,954,998
Part VI · Governance 33 of 34 board members independent, 1 to look at
VI-1a Voting members of the governing body34
VI-1b Independent voting members33
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 $335,226,661 across 12 lines filed
Lines not itemized here account for −$250,697 of total revenue; see the IRS return.
VIII-1c Fundraising events$31,400
VIII-1e Government grants$3,457,108
VIII-1f All other contributions, gifts and grants$39,926,789
VIII-1g Noncash contributions (included above)$7,071,596
VIII-1h Total contributions, gifts and grants$43,415,297
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $222,670,807 · Unrelated business $9,500$222,680,307
VIII-3 Investment incomeUnrelated business −$1,372,265 · Excluded from tax $14,848,338$13,476,073
VIII-6 Net rental income or lossUnrelated business −$78,283 · Excluded from tax $463,283$385,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax $51,773,544$51,773,544
VIII-8 Net income from fundraising eventsExcluded from tax $31,009$31,009
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,716,128$3,716,128
VIII-12 Total revenueRelated to mission $222,670,807 · Unrelated business −$1,489,252 · Excluded from tax $70,629,809$335,226,661
Part IX · Statement of functional expenses $292,271,663 across 25 lines filed
IX-1 Grants to domestic organizationsPrograms $60,618$60,618
IX-2 Grants to domestic individualsPrograms $74,272,331$74,272,331
IX-5 Pay of current officers, directors and key staffPrograms $1,581,195 · Management $3,961,057$5,542,252
IX-6 Pay of disqualified personsManagement $425,610$425,610
IX-7 Other salaries and wagesPrograms $66,206,671 · Management $11,172,403 · Fundraising $2,602,658$79,981,732
IX-8 Pension plan contributionsPrograms $5,775,967 · Management $1,058,464 · Fundraising $227,640$7,062,071
IX-9 Other employee benefitsPrograms $11,566,999 · Management $2,421,278 · Fundraising $519,375$14,507,652
IX-10 Payroll taxesPrograms $4,678,819 · Management $1,041,203 · Fundraising $180,184$5,900,206
IX-11b Legal feesPrograms $20,227 · Management $783,428 · Fundraising $7,645$811,300
IX-11c Accounting feesManagement $230,780$230,780
IX-11d Lobbying feesManagement $9,743$9,743
IX-11e Professional fundraising feesFundraising $579,805$579,805
IX-11f Investment management feesManagement $342,723$342,723
IX-11g Other fees for servicesPrograms $15,063,850 · Management $2,914,933 · Fundraising $59,211$18,037,994
IX-12 Advertising and promotionPrograms $126,944 · Management $105,854$232,798
IX-13 Office expensesPrograms $2,621,621 · Management $696,288 · Fundraising $209,966$3,527,875
IX-14 Information technologyPrograms $426,096 · Management $3,058,384 · Fundraising $65,786$3,550,266
IX-16 OccupancyPrograms $7,047,440 · Management $1,083,325$8,130,765
IX-17 TravelPrograms $5,400,672 · Management $686,763 · Fundraising $106,009$6,193,444
IX-19 Conferences, conventions and meetingsPrograms $1,557,511 · Management $1,646,062 · Fundraising $61,575$3,265,148
IX-20 InterestPrograms $10,439,582 · Management $689,760$11,129,342
IX-22 Depreciation, depletion and amortizationPrograms $18,821,063 · Management $1,859,162$20,680,225
IX-23 InsurancePrograms $443,989 · Management $3,160,822$3,604,811
IX-24 Other expenses (24a–d)Programs $24,207,447 · Management −$6,331,105 · Fundraising $85$17,876,427
IX-24e All other expensesPrograms $4,588,321 · Management $1,642,970 · Fundraising $84,454$6,315,745
IX-25 Total functional expensesPrograms $254,907,363 · Management $32,659,907 · Fundraising $4,704,393$292,271,663
Part X · Balance sheet $1,841,384,079 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $15,474$12,468
X-2 Savings and temporary cash investmentsStart of year $73,620,961$81,525,760
X-3 Pledges and grants receivableStart of year $19,778,157$23,027,472
X-4 Accounts receivableStart of year $5,881,662$2,811,458
X-8 Inventories for sale or useStart of year $996,396$963,699
X-9 Prepaid expenses and deferred chargesStart of year $3,744,097$3,277,958
X-10c Land, buildings and equipment, netStart of year $483,050,030$494,367,379
X-11 Publicly traded securitiesStart of year $186,585,975$185,201,452
X-12 Other securitiesStart of year $961,538,444$1,039,453,925
X-13 Program-related investmentsStart of year $1,312,993$1,197,409
X-15 Other assetsStart of year $8,440,266$9,545,099
X-16 Total assetsStart of year $1,744,964,455$1,841,384,079
X-17 Accounts payable and accrued expensesStart of year $20,804,964$13,405,154
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,316,017$2,101,810
X-20 Tax-exempt bond liabilitiesStart of year $174,468,359$173,425,533
X-25 Other liabilitiesStart of year $45,762,342$47,022,280
X-26 Total liabilitiesStart of year $371,640,453$364,313,175
X-27 Net assets without donor restrictionsStart of year $479,781,934$520,542,545
X-28 Net assets with donor restrictionsStart of year $893,542,068$956,528,359
X-32 Total net assets or fund balancesStart of year $1,373,324,002$1,477,070,904
X-33 Total liabilities and net assetsStart of year $1,744,964,455$1,841,384,079
Part XI · Reconciliation of net assets $1,477,070,904 net assets at year end
XI-1 Total revenue$335,226,661
XI-2 Total expenses$292,271,663
XI-3 Revenue less expenses$42,954,998
XI-4 Net assets at start of year$1,373,324,002
XI-5 Net unrealized gains (losses) on investments$62,500,822
XI-9 Other changes in net assets−$1,708,918
XI-10 Net assets at end of year$1,477,070,904

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

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