Lafayette College FY2020 filing

Tax-deductible

Easton, PA501(c)(3)Since 1826Colleges & UniversitiesEIN 24-0795686Revenue $228.5M in FY2020

On file with the IRSlafayette.edu730 Sullivan Rd, 18042-1760 · Easton, PATax-exempt since Dec 1942School — 170(b)(1)(A)(ii)

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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.
85¢ of each $1 spent went to programs.
$6.1M 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

FY2020 · 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
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6.1M
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
Cash reserves
4 mo
of spending, in cash
Looks good: 3.5 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
$376.3M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
34
of 35 voting members
Looks good: 34 of 35 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$228.5M
Spent
$228.6M
To programs
85%
Net assets
$1.0B
By yearFY2020–FY2025
Revenue
$228.5M
FY2020
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
$228.6M
FY2020
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
$1.0B
FY2020
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 FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Dec 1942.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $195.0M Management & general 12% · $28.0M Fundraising 2% · $5.6M

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

51 people listed on the 990; $6.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$816,569Pt VII · Sec A
Chief Investment Officer
$516,641Pt VII · Sec A
VP of Finance & Administration/Treasurer
$476,875Pt VII · Sec A
$454,081Pt VII · Sec A
Director of Investments
$425,830Pt VII · Sec A
VP of Development & College Relations
$360,966Pt VII · Sec A
VP of Human Resources & General Counsel
$348,835Pt VII · Sec A
Assoc VP for Finance, Planning & Capital Budget
$284,410Pt 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.

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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.

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2 programs · $195.0M · in their own filed words · FY2019
01

Lafayette college is a liberal arts college offering bachelor of arts and bachelor of science degrees in four disciplines in humanities, engineering, natural sciences, and social sciences. In fall 2019, the 2,633 full-time students came from 31 states and 27 countries. The student-to-faculty ratio at the college is approximately 10 to 1.

$164.8Mprogram 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.

$30.2Mprogram 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 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 FY2020 990, line by line.

1The main four
Money inPt VIII
$228.5M
Ln 12
Fees for servicesLn 2g$175.4M
Investment incomeLn 3$29.8M
Gifts and grantsLn 1h$20.1M
Money outPt IX
$228.6M
Ln 25
Programscol B$195.0M
Managementcol C$28.0M
Fundraisingcol D$5.6M
Owns and owesPt X
$1.0B
net assets · Ln 32
Cash and savingsLn 1–2$66.9M
Total assetsLn 16$1.4B
LiabilitiesLn 26$376.3M
PeoplePt VI, VII
51
listed · VII A
PaidVII A18
Voting boardVI 1a35
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20.1M
Government grantsLn 1e$2.1M
Fees for servicesLn 2g$175.4M
Investment incomeLn 3$29.8M
Other incomeLn 4–11$3.2M
Gains on assetsLn 7$64.0M
Total revenueLn 12$228.5M
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$66.9M
Cash and savings togetherLn 1–2$66.9M
InvestmentsLn 11–13$896.7M
Land, buildings, equipmentLn 10c$396.5M
Other assetsLn 15$1.3M
Total assetsLn 16$1.4B
LiabilitiesLn 26$376.3M
Net assetsLn 32$1.0B
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 FY20End FY20
Cash and savingsLn 1–2$62.6M$66.9M
InvestmentsLn 11–13$892.4M$896.7M
Land, buildings, equipmentLn 10c$381.7M$396.5M
Total assetsLn 16$1.39B$1.38B
LiabilitiesLn 26$385.8M$376.3M
Net assetsLn 32$1.00B$1.01B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$63K$63K
Grants to domestic individualsLn 2$56.6M$56.6M
Pay of current officers, directors and key staffLn 5$4.1M$484K$3.3M$320K
Other salaries and wagesLn 7$69.9M$58.1M$8.8M$2.9M
Pension plan contributionsLn 8$6.4M$5.0M$1.0M$332K
Other employee benefitsLn 9$10.8M$8.5M$1.7M$566K
Payroll taxesLn 10$5.2M$4.1M$824K$272K
Legal feesLn 11b$904K$67K$813K$24K
Accounting feesLn 11c$158K$158K
Professional fundraising feesLn 11e$163K$163K
Investment management feesLn 11f$612K$612K
Other fees for servicesLn 11g$12.5M$10.3M$2.2M$36K
Advertising and promotionLn 12$76K$66K$9K$800
Office expensesLn 13$2.2M$1.6M$362K$242K
Information technologyLn 14$2.8M$501K$2.1M$146K
OccupancyLn 16$4.3M$3.9M$371K
TravelLn 17$4.6M$4.1M$305K$132K
Conferences, conventions and meetingsLn 19$1.3M$620K$277K$368K
InterestLn 20$10.3M$9.9M$382K
Depreciation, depletion and amortizationLn 22$15.6M$13.6M$2.1M
InsuranceLn 23$1.8M$490K$1.3M
Other expenses (24a–d)Ln 24$11.1M$10.4M$660K$17
All other expensesLn 24e$7.1M$6.4M$670K$74K
Total functional expensesLn 25$228.6M$195.0M$28.0M$5.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $228.5M$228.6M−$131K$1.0B 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 FY2020 990 (6 parts)
Part I · Summary $228,460,340 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $31,281,134$20,135,118
I-9 Program service revenuePrior year $174,963,552$175,394,687
I-10 Investment incomePrior year $24,186,162$29,775,451
I-11 Other revenuePrior year $4,250,746$3,155,084
I-12 Total revenuePrior year $234,681,594$228,460,340
I-13 Grants and similar amounts paidPrior year $52,048,794$56,678,768
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $94,698,185$96,397,351
I-16a Professional fundraising feesPrior year $257,388$163,391
I-17 Other expensesPrior year $82,791,114$75,351,386
I-18 Total expensesPrior year $229,795,481$228,590,896
I-19 Revenue less expensesPrior year $4,886,113−$130,556
Part VI · Governance 34 of 35 board members independent, 1 to look at
VI-1a Voting members of the governing body35
VI-1b Independent voting members34
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 $228,460,340 across 9 lines filed
Lines not itemized here account for −$198,022 of total revenue; see the IRS return.
VIII-1e Government grants$2,078,388
VIII-1f All other contributions, gifts and grants$18,056,730
VIII-1h Total contributions, gifts and grants$20,135,118
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $175,394,687$175,394,687
VIII-3 Investment incomeUnrelated business −$158,062 · Excluded from tax −$34,110,665−$34,268,727
VIII-6 Net rental income or lossExcluded from tax $413,781$413,781
VIII-7 Net gain or loss on sales of assetsExcluded from tax $64,044,178$64,044,178
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $13,188 · Excluded from tax $2,926,137$2,939,325
VIII-12 Total revenueRelated to mission $175,394,687 · Unrelated business −$159,686 · Excluded from tax $33,090,221$228,460,340
Part IX · Statement of functional expenses $228,590,896 across 23 lines filed
IX-1 Grants to domestic organizationsPrograms $63,100$63,100
IX-2 Grants to domestic individualsPrograms $56,615,668$56,615,668
IX-5 Pay of current officers, directors and key staffPrograms $484,280 · Management $3,293,248 · Fundraising $320,020$4,097,548
IX-7 Other salaries and wagesPrograms $58,118,790 · Management $8,826,325 · Fundraising $2,941,679$69,886,794
IX-8 Pension plan contributionsPrograms $5,048,681 · Management $1,006,483 · Fundraising $331,807$6,386,971
IX-9 Other employee benefitsPrograms $8,512,605 · Management $1,718,069 · Fundraising $566,395$10,797,069
IX-10 Payroll taxesPrograms $4,133,321 · Management $824,000 · Fundraising $271,648$5,228,969
IX-11b Legal feesPrograms $66,594 · Management $813,453 · Fundraising $23,878$903,925
IX-11c Accounting feesManagement $157,779$157,779
IX-11e Professional fundraising feesFundraising $163,391$163,391
IX-11f Investment management feesManagement $612,012$612,012
IX-11g Other fees for servicesPrograms $10,308,684 · Management $2,191,232 · Fundraising $35,990$12,535,906
IX-12 Advertising and promotionPrograms $65,723 · Management $9,449 · Fundraising $800$75,972
IX-13 Office expensesPrograms $1,574,316 · Management $361,881 · Fundraising $241,550$2,177,747
IX-14 Information technologyPrograms $500,756 · Management $2,146,733 · Fundraising $145,585$2,793,074
IX-16 OccupancyPrograms $3,920,297 · Management $371,168$4,291,465
IX-17 TravelPrograms $4,133,866 · Management $304,941 · Fundraising $132,078$4,570,885
IX-19 Conferences, conventions and meetingsPrograms $620,114 · Management $277,293 · Fundraising $367,719$1,265,126
IX-20 InterestPrograms $9,911,919 · Management $382,267$10,294,186
IX-22 Depreciation, depletion and amortizationPrograms $13,593,243 · Management $2,052,898$15,646,141
IX-23 InsurancePrograms $490,352 · Management $1,309,682$1,800,034
IX-24 Other expenses (24a–d)Programs $10,440,139 · Management $660,362 · Fundraising $17$11,100,518
IX-24e All other expensesPrograms $6,383,142 · Management $669,541 · Fundraising $73,933$7,126,616
IX-25 Total functional expensesPrograms $194,985,590 · Management $27,988,816 · Fundraising $5,616,490$228,590,896
Part X · Balance sheet $1,381,563,896 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $56,024$12,292
X-2 Savings and temporary cash investmentsStart of year $62,579,195$66,897,772
X-3 Pledges and grants receivableStart of year $24,516,328$15,032,538
X-4 Accounts receivableStart of year $3,834,603$2,468,595
X-8 Inventories for sale or useStart of year $733,867$659,226
X-9 Prepaid expenses and deferred chargesStart of year $2,026,942$1,976,627
X-10c Land, buildings and equipment, netStart of year $381,747,925$396,505,081
X-11 Publicly traded securitiesStart of year $236,430,239$219,502,151
X-12 Other securitiesStart of year $653,215,405$674,745,193
X-13 Program-related investmentsStart of year $2,769,173$2,492,613
X-15 Other assetsStart of year $19,235,310$1,271,808
X-16 Total assetsStart of year $1,387,145,011$1,381,563,896
X-17 Accounts payable and accrued expensesStart of year $20,145,066$12,142,394
X-18 Grants payableStart of year $1,279,224$882,491
X-19 Deferred revenueStart of year $2,729,588$5,520,221
X-20 Tax-exempt bond liabilitiesStart of year $272,340,932$270,592,055
X-25 Other liabilitiesStart of year $81,812,031$80,077,569
X-26 Total liabilitiesStart of year $385,773,860$376,262,651
X-27 Net assets without donor restrictionsStart of year $301,029,540$319,043,875
X-28 Net assets with donor restrictionsStart of year $700,341,611$686,257,370
X-32 Total net assets or fund balancesStart of year $1,001,371,151$1,005,301,245
X-33 Total liabilities and net assetsStart of year $1,387,145,011$1,381,563,896
Part XI · Reconciliation of net assets $1,005,301,245 net assets at year end
XI-1 Total revenue$228,460,340
XI-2 Total expenses$228,590,896
XI-3 Revenue less expenses−$130,556
XI-4 Net assets at start of year$1,001,371,151
XI-5 Net unrealized gains (losses) on investments−$531,719
XI-9 Other changes in net assets$4,592,369
XI-10 Net assets at end of year$1,005,301,245

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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