Lafayette College FY2021 filing

Tax-deductible

Easton, PA501(c)(3)Since 1826Colleges & UniversitiesEIN 24-0795686Revenue $234.2M in FY2021

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

This page gets seen. Tell your story. Claim this org.

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.
83¢ of each $1 spent went to programs.
$5.4M 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

FY2021 · 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
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5.4M
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: 4.5 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
$384.4M
24% of total assets
Looks good: liabilities are 24% 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
$234.2M
+3% vs prior year
Spent
$205.6M
To programs
83%
Net assets
$1.2B
By yearFY2020–FY2025
Revenue
$234.2M
FY2021▲ +3%
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
$205.6M
FY2021▼ -10%
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
$1.2B
FY2021▲ +22%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

Give Claim
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 ruling in Dec 1942.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $170.2M Management & general 15% · $31.1M Fundraising 2% · $4.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

52 people listed on the 990; $5.4M 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
$616,685Pt VII · Sec A
Director of Investments
$455,192Pt VII · Sec A
VP Finance & Admin/Treasurer
$452,323Pt VII · Sec A
Former Officer
$345,785Pt VII · Sec A
Professor of Economics
$342,937Pt VII · Sec A
VP Human Resources, General Counsel
$323,864Pt VII · Sec A
VP Development & College Relations
$311,948Pt VII · Sec A
Investment Associate
$309,681Pt 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 →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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

Tap to ask. Lafayette College sees how many people are interested.

Your first name shows with your question. Lafayette College answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

2 programs · $170.2M · in their own filed words · FY2020
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 2020, the 2,514 full-time students came from 34 states and 27 countries. The student-to-faculty ratio at the college is approximately 10 to 1.

$145.5Mprogram 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.

$24.7Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$234.2M
Ln 12
Fees for servicesLn 2g$148.6M
Investment incomeLn 3$64.1M
Gifts and grantsLn 1h$20.7M
Money outPt IX
$205.6M
Ln 25
Programscol B$170.2M
Managementcol C$31.1M
Fundraisingcol D$4.3M
Owns and owesPt X
$1.2B
net assets · Ln 32
Cash and savingsLn 1–2$76.8M
Total assetsLn 16$1.6B
LiabilitiesLn 26$384.4M
PeoplePt VI, VII
52
listed · VII A
PaidVII A18
Voting boardVI 1a35
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20.7M
Government grantsLn 1e$4.6M
Noncash giftsLn 1g$8.5M
Fundraising eventsLn 1c$24K
Fees for servicesLn 2g$148.6M
Investment incomeLn 3$64.1M
Other incomeLn 4–11$898K
Gains on assetsLn 7$57.3M
Total revenueLn 12$234.2M
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$76.8M
Cash and savings togetherLn 1–2$76.8M
InvestmentsLn 11–13$1.13B
Land, buildings, equipmentLn 10c$396.7M
Other assetsLn 15$1.1M
Total assetsLn 16$1.6B
LiabilitiesLn 26$384.4M
Net assetsLn 32$1.2B
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 FY21End FY21
Cash and savingsLn 1–2$66.9M$76.8M
InvestmentsLn 11–13$896.7M$1.13B
Land, buildings, equipmentLn 10c$396.5M$396.7M
Total assetsLn 16$1.38B$1.62B
LiabilitiesLn 26$376.3M$384.4M
Net assetsLn 32$1.01B$1.23B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11K$11K
Grants to domestic individualsLn 2$47.6M$47.6M
Pay of current officers, directors and key staffLn 5$3.8M$507K$3.0M$335K
Pay of disqualified personsLn 6$174K$174K
Other salaries and wagesLn 7$69.3M$54.6M$11.8M$2.8M
Pension plan contributionsLn 8$1.6M$1.4M$157K$68K
Other employee benefitsLn 9$10.5M$8.1M$1.9M$481K
Payroll taxesLn 10$4.8M$3.8M$805K$227K
Legal feesLn 11b$1.0M$9K$956K$80K
Accounting feesLn 11c$156K$156K
Professional fundraising feesLn 11e$29K$29K
Investment management feesLn 11f$656K$656K
Other fees for servicesLn 11g$8.7M$6.4M$2.3M$29K
Advertising and promotionLn 12$114K$64K$32K$18K
Office expensesLn 13$1.9M$1.3M$362K$224K
Information technologyLn 14$2.7M$349K$2.3M$16K
OccupancyLn 16$4.7M$4.1M$621K
TravelLn 17$989K$784K$192K$13K
Conferences, conventions and meetingsLn 19$353K$201K$116K$36K
InterestLn 20$10.0M$9.8M$156K
Depreciation, depletion and amortizationLn 22$15.8M$14.0M$1.8M
InsuranceLn 23$2.2M$309K$1.9M
Other expenses (24a–d)Ln 24$12.1M$11.5M$535K$152
All other expensesLn 24e$6.3M$5.2M$1.1M$5K
Total functional expensesLn 25$205.6M$170.2M$31.1M$4.3M

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 Viewing $234.2M$205.6M$28.6M$1.2B 990 PDF
FY2020 $228.5M$228.6M−$131K$1.0B 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 $234,245,342 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,135,118$20,693,664
I-9 Program service revenuePrior year $175,394,687$148,585,050
I-10 Investment incomePrior year $29,775,451$64,069,048
I-11 Other revenuePrior year $3,155,084$897,580
I-12 Total revenuePrior year $228,460,340$234,245,342
I-13 Grants and similar amounts paidPrior year $56,678,768$47,643,620
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $96,397,351$90,141,630
I-16a Professional fundraising feesPrior year $163,391$29,000
I-17 Other expensesPrior year $75,351,386$67,830,874
I-18 Total expensesPrior year $228,590,896$205,645,124
I-19 Revenue less expensesPrior year −$130,556$28,600,218
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 $234,245,342 across 12 lines filed
Lines not itemized here account for −$762,854 of total revenue; see the IRS return.
VIII-1c Fundraising events$23,742
VIII-1e Government grants$4,603,621
VIII-1f All other contributions, gifts and grants$16,066,301
VIII-1g Noncash contributions (included above)$8,451,807
VIII-1h Total contributions, gifts and grants$20,693,664
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $148,585,050$148,585,050
VIII-3 Investment incomeUnrelated business −$667,573 · Excluded from tax $7,403,106$6,735,533
VIII-6 Net rental income or lossExcluded from tax $280,638$280,638
VIII-7 Net gain or loss on sales of assetsExcluded from tax $57,333,515$57,333,515
VIII-8 Net income from fundraising eventsExcluded from tax $6,021$6,021
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,373,775$1,373,775
VIII-12 Total revenueRelated to mission $148,585,050 · Unrelated business −$973,427 · Excluded from tax $65,940,055$234,245,342
Part IX · Statement of functional expenses $205,645,124 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $11,194$11,194
IX-2 Grants to domestic individualsPrograms $47,632,426$47,632,426
IX-5 Pay of current officers, directors and key staffPrograms $507,074 · Management $2,997,561 · Fundraising $335,401$3,840,036
IX-6 Pay of disqualified personsManagement $174,201$174,201
IX-7 Other salaries and wagesPrograms $54,636,828 · Management $11,849,515 · Fundraising $2,780,362$69,266,705
IX-8 Pension plan contributionsPrograms $1,357,495 · Management $157,153 · Fundraising $68,144$1,582,792
IX-9 Other employee benefitsPrograms $8,110,687 · Management $1,886,018 · Fundraising $480,700$10,477,405
IX-10 Payroll taxesPrograms $3,768,491 · Management $804,572 · Fundraising $227,428$4,800,491
IX-11b Legal feesPrograms $9,080 · Management $956,490 · Fundraising $79,829$1,045,399
IX-11c Accounting feesManagement $156,294$156,294
IX-11e Professional fundraising feesFundraising $29,000$29,000
IX-11f Investment management feesManagement $655,840$655,840
IX-11g Other fees for servicesPrograms $6,364,007 · Management $2,346,842 · Fundraising $28,772$8,739,621
IX-12 Advertising and promotionPrograms $64,005 · Management $31,656 · Fundraising $18,269$113,930
IX-13 Office expensesPrograms $1,332,245 · Management $362,329 · Fundraising $223,524$1,918,098
IX-14 Information technologyPrograms $348,653 · Management $2,343,135 · Fundraising $15,721$2,707,509
IX-16 OccupancyPrograms $4,127,928 · Management $621,392$4,749,320
IX-17 TravelPrograms $783,700 · Management $191,672 · Fundraising $13,168$988,540
IX-19 Conferences, conventions and meetingsPrograms $200,821 · Management $116,457 · Fundraising $35,956$353,234
IX-20 InterestPrograms $9,837,816 · Management $155,525$9,993,341
IX-22 Depreciation, depletion and amortizationPrograms $14,030,427 · Management $1,750,221$15,780,648
IX-23 InsurancePrograms $308,696 · Management $1,910,526$2,219,222
IX-24 Other expenses (24a–d)Programs $11,543,736 · Management $535,127 · Fundraising $152$12,079,015
IX-24e All other expensesPrograms $5,185,659 · Management $1,140,056 · Fundraising $5,148$6,330,863
IX-25 Total functional expensesPrograms $170,160,968 · Management $31,142,582 · Fundraising $4,341,574$205,645,124
Part X · Balance sheet $1,615,001,306 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $12,292$11,608
X-2 Savings and temporary cash investmentsStart of year $66,897,772$76,815,011
X-3 Pledges and grants receivableStart of year $15,032,538$9,679,669
X-4 Accounts receivableStart of year $2,468,595$842,745
X-8 Inventories for sale or useStart of year $659,226$968,276
X-9 Prepaid expenses and deferred chargesStart of year $1,976,627$2,119,958
X-10c Land, buildings and equipment, netStart of year $396,505,081$396,686,401
X-11 Publicly traded securitiesStart of year $219,502,151$285,315,884
X-12 Other securitiesStart of year $674,745,193$839,610,153
X-13 Program-related investmentsStart of year $2,492,613$1,878,162
X-15 Other assetsStart of year $1,271,808$1,073,439
X-16 Total assetsStart of year $1,381,563,896$1,615,001,306
X-17 Accounts payable and accrued expensesStart of year $12,142,394$18,177,642
X-18 Grants payableStart of year $882,491$395,249
X-19 Deferred revenueStart of year $5,520,221$2,183,269
X-20 Tax-exempt bond liabilitiesStart of year $270,592,055$214,861,169
X-25 Other liabilitiesStart of year $80,077,569$73,776,087
X-26 Total liabilitiesStart of year $376,262,651$384,418,436
X-27 Net assets without donor restrictionsStart of year $319,043,875$373,165,842
X-28 Net assets with donor restrictionsStart of year $686,257,370$857,417,028
X-32 Total net assets or fund balancesStart of year $1,005,301,245$1,230,582,870
X-33 Total liabilities and net assetsStart of year $1,381,563,896$1,615,001,306
Part XI · Reconciliation of net assets $1,230,582,870 net assets at year end
XI-1 Total revenue$234,245,342
XI-2 Total expenses$205,645,124
XI-3 Revenue less expenses$28,600,218
XI-4 Net assets at start of year$1,005,301,245
XI-5 Net unrealized gains (losses) on investments$198,768,707
XI-9 Other changes in net assets−$2,087,300
XI-10 Net assets at end of year$1,230,582,870

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.