Earlham College INC

Tax-deductible

Richmond, IN501(c)(3)Since 1881Colleges & UniversitiesEIN 35-0868073Revenue $86.9M in FY2024

On file with the IRSearlham.edu801 National Rd W, 47374-4021 · Richmond, INTax-exempt since Mar 1935School — 170(b)(1)(A)(ii)

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The mission of Earlham College, an independent, residential college, is to provide the highest quality undergraduate education in the liberal arts, including the sciences, shaped by the distinctive perspectives of the Religious Society of Friends (Quakers). The College provides extensive opportunities for students and faculty to learn from each other in a cooperative community, an important aspect of which is collaborative student/faculty research. At Earlham College, education is carried on with a concern for the world in which we live and for improving human society. Therefore, Earlham stresses global education, peaceful resolution of conflict, equality of persons, and high moral standards of personal conduct.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Run by 550 volunteers and 953 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $1.4M a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 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
$2.6M
to officers and key staff · 3% of spending
Top officer’s pay lower than 64% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $71K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$87.3M
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 24 voting members
Looks good: 23 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$86.9M
-15% vs prior year
Spent
$101.2M
To programs
85%
Net assets
$248.1M
By yearFY2020–FY2024
Revenue
$86.9M
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$67.0M
FY2021$128.4M
FY2022$55.3M
FY2023$73.2M
FY2024$102.3M
FY2024$86.9M
Expenses
$101.2M
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$93.6M
FY2021$80.5M
FY2022$84.7M
FY2023$84.3M
FY2024$90.1M
FY2024$101.2M
Net assets
$248.1M
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$235.5M
FY2021$285.6M
FY2022$254.1M
FY2023$243.6M
FY2024$260.3M
FY2024$248.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1935.

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% · $85.8M Management & general 13% · $13.2M Fundraising 2% · $2.2M

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

41 people listed on the 990; $2.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
Vice President of Enrollment Management
$199,721Pt VII · Sec A
VP of Student Life/Dean of Students
$189,136Pt VII · Sec A
President (until Aug 2024)
$186,839Pt VII · Sec A
Former SR VP of Finance & Admin & CFO
$182,649Pt VII · Sec A
VP for Institutional Advancement
$173,011Pt VII · Sec A
Associate VP of Human Resources, Safety and Risk (until Oct 2024), VP and COO
$172,205Pt VII · Sec A
President (beg Oct 2024)
$160,283Pt VII · Sec A
Controller, Interim CFO (until Oct 2024), VP and CFO
$153,480Pt VII · Sec A

Scot Schaeffer’s $200K as Vice President of Enrollment Management is at the 36th percentile of top reported officer pay among 3683 $10–100M 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Anne Houtman$186,839$277,925$271,249$283,124$311,849$160,389
Avis Stewart—————$230,061
Stacy L Davidson$182,649$223,888$215,167———
Stacy Lutz Davidson———$210,670$175,644—
Scot Schaeffer$199,721—————
Bonita Washington-Lacy$189,136$185,367$179,316$175,122$165,204—
Phillip Morgan—————$184,617
Kristen Lainsbury$131,024$176,564$160,361$140,223——

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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides intellectually challenging, globally engaged liberal arts education and seminary training to prepare students for socially concerned lives and careers.

Provided by the organization

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2 programs · $85.8M · in their own filed words · FY2024
01

Earlham College

Providing high quality liberal arts education for 677 students (729 including Earlham School of Religion) per IPEDS reporting. Serving the local community through arts, music, and cultural events open to the public. Students volunteer with many community service organizations.

$84.3Mprogram expense
02

Earlham School of Religion

Providing seminary training for 52 students.

$1.5Mprogram 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
See all 6 funders →
Grants paid · 14 grants · $181.8M · 2019–2024
Unitemized GrantFY2024$28,298,329
Earlham FoundationIN · FY2024$4,114,577
Unitemized GrantFY2023$25,096,182
Earlham FoundationIN · FY2023$1,953,345
Unitemized GrantFY2022$23,297,066
Earlham FoundationIN · FY2022$1,637,480
Unitemized GrantFY2021$26,445,489
Earlham FoundationIN · FY2021$3,811,681
Unitemized GrantFY2020$25,645,336
Earlham FoundationIN · FY2020$2,895,420
Unitemized GrantFY2019$34,227,080
Earlham FoundationIN · FY2019$803,801

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$86.9M
Ln 12
Fees for servicesLn 2g$45.2M
Gifts and grantsLn 1h$39.0M
Investment incomeLn 3$2.7M
Money outPt IX
$101.2M
Ln 25
Programscol B$85.8M
Managementcol C$13.2M
Fundraisingcol D$2.2M
Owns and owesPt X
$248.1M
net assets · Ln 32
Cash and savingsLn 1–2$49.4M
Total assetsLn 16$335.5M
LiabilitiesLn 26$87.3M
PeoplePt VI, VII
41
listed · VII A
PaidVII A18
Voting boardVI 1a24
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$39.0M
Government grantsLn 1e$871K
Noncash giftsLn 1g$888K
Fees for servicesLn 2g$45.2M
Investment incomeLn 3$2.7M
Gains on assetsLn 7$736K
Total revenueLn 12$86.9M
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$49.4M
Cash and savings togetherLn 1–2$49.4M
InvestmentsLn 11–13$8.5M
Land, buildings, equipmentLn 10c$120.4M
Other assetsLn 15$153.3M
Total assetsLn 16$335.5M
LiabilitiesLn 26$87.3M
Net assetsLn 32$248.1M
OperationsPt I, VI
EmployeesI 5953
VolunteersI 6550
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$51.0M$49.4M
InvestmentsLn 11–13$8.6M$8.5M
Land, buildings, equipmentLn 10c$125.1M$120.4M
Total assetsLn 16$348.8M$335.5M
LiabilitiesLn 26$88.5M$87.3M
Net assetsLn 32$260.3M$248.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.7M$7.7M
Grants to domestic individualsLn 2$28.3M$28.3M
Pay of current officers, directors and key staffLn 5$2.4M$591K$1.5M$367K
Other salaries and wagesLn 7$21.5M$16.4M$4.2M$835K
Pension plan contributionsLn 8$1.2M$880K$226K$56K
Other employee benefitsLn 9$5.1M$4.4M$502K$210K
Payroll taxesLn 10$1.5M$1.1M$280K$64K
Legal feesLn 11b$117K$2K$115K
Accounting feesLn 11c$126K$126K
Investment management feesLn 11f$2K$2K
Other fees for servicesLn 11g$4.1M$2.4M$1.5M$209K
Advertising and promotionLn 12$319K$44K$264K$12K
Office expensesLn 13$2.3M$1.8M$391K$120K
Information technologyLn 14$2.9M$1.4M$1.5M$4K
OccupancyLn 16$4.6M$4.1M$381K$105K
TravelLn 17$1.3M$1.2M$97K$75K
Conferences, conventions and meetingsLn 19$172K$126K$42K$4K
InterestLn 20$3.0M$2.4M$634K
Depreciation, depletion and amortizationLn 22$6.9M$6.6M$275K$47K
InsuranceLn 23$581K$360K$222K
Other expenses (24a–d)Ln 24$5.4M$5.0M$323K$65K
All other expensesLn 24e$1.6M$996K$577K$22K
Total functional expensesLn 25$101.2M$85.8M$13.2M$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $102.3M$90.1M$12.3M$260.3M 990 PDF
FY2023 $73.2M$84.3M−$11.0M$243.6M 990 PDF
FY2022 $55.3M$84.7M−$29.3M$254.1M 990 PDF
FY2021 $128.4M$80.5M$47.9M$285.6M 990 PDF
FY2020 $67.0M$93.6M−$26.6M$235.5M 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 FY2024 990 (6 parts)
Part I · Summary $86,888,119 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $59,923,529$38,983,855
I-9 Program service revenuePrior year $40,771,978$45,245,360
I-10 Investment incomePrior year $1,653,093$2,668,331
I-11 Other revenuePrior year −$22,246−$9,427
I-12 Total revenuePrior year $102,326,354$86,888,119
I-13 Grants and similar amounts paidPrior year $27,049,527$36,027,085
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $29,630,556$31,650,387
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $33,386,587$33,503,602
I-18 Total expensesPrior year $90,066,670$101,181,074
I-19 Revenue less expensesPrior year $12,259,684−$14,292,955
Part VI · Governance 23 of 24 board members independent, no flags
VI-1a Voting members of the governing body24
VI-1b Independent voting members23
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 $86,888,119 across 10 lines filed
VIII-1d Related organizations$27,327,898
VIII-1e Government grants$871,492
VIII-1f All other contributions, gifts and grants$10,784,465
VIII-1g Noncash contributions (included above)$888,000
VIII-1h Total contributions, gifts and grants$38,983,855
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $45,245,360$45,245,360
VIII-3 Investment incomeExcluded from tax $1,932,281$1,932,281
VIII-6 Net rental income or lossExcluded from tax −$9,427−$9,427
VIII-7 Net gain or loss on sales of assetsExcluded from tax $736,050$736,050
VIII-12 Total revenueRelated to mission $45,245,360 · Unrelated business $0 · Excluded from tax $2,658,904$86,888,119
Part IX · Statement of functional expenses $101,181,074 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $7,728,756$7,728,756
IX-2 Grants to domestic individualsPrograms $28,298,329$28,298,329
IX-5 Pay of current officers, directors and key staffPrograms $591,224 · Management $1,462,463 · Fundraising $366,719$2,420,406
IX-7 Other salaries and wagesPrograms $16,411,838 · Management $4,238,993 · Fundraising $835,151$21,485,982
IX-8 Pension plan contributionsPrograms $880,187 · Management $226,170 · Fundraising $56,054$1,162,411
IX-9 Other employee benefitsPrograms $4,377,039 · Management $502,400 · Fundraising $210,212$5,089,651
IX-10 Payroll taxesPrograms $1,147,819 · Management $279,931 · Fundraising $64,187$1,491,937
IX-11b Legal feesPrograms $2,230 · Management $114,820$117,050
IX-11c Accounting feesManagement $125,984$125,984
IX-11f Investment management feesManagement $1,823$1,823
IX-11g Other fees for servicesPrograms $2,434,842 · Management $1,505,796 · Fundraising $208,812$4,149,450
IX-12 Advertising and promotionPrograms $44,014 · Management $263,634 · Fundraising $11,645$319,293
IX-13 Office expensesPrograms $1,803,543 · Management $390,854 · Fundraising $120,314$2,314,711
IX-14 Information technologyPrograms $1,401,343 · Management $1,529,960 · Fundraising $4,494$2,935,797
IX-16 OccupancyPrograms $4,076,915 · Management $380,963 · Fundraising $104,768$4,562,646
IX-17 TravelPrograms $1,160,580 · Management $96,922 · Fundraising $75,186$1,332,688
IX-19 Conferences, conventions and meetingsPrograms $126,269 · Management $41,541 · Fundraising $4,280$172,090
IX-20 InterestPrograms $2,357,824 · Management $634,237$2,992,061
IX-22 Depreciation, depletion and amortizationPrograms $6,587,706 · Management $275,461 · Fundraising $47,258$6,910,425
IX-23 InsurancePrograms $359,805 · Management $221,646$581,451
IX-24 Other expenses (24a–d)Programs $5,004,190 · Management $323,424 · Fundraising $65,198$5,392,812
IX-24e All other expensesPrograms $996,320 · Management $577,358 · Fundraising $21,643$1,595,321
IX-25 Total functional expensesPrograms $85,790,773 · Management $13,194,380 · Fundraising $2,195,921$101,181,074
Part X · Balance sheet $335,465,324 assets, 20 lines filed
Asset lines not itemized here account for $251,036; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $9,642$12,333
X-2 Savings and temporary cash investmentsStart of year $50,955,192$49,387,433
X-3 Pledges and grants receivableStart of year $1,344,639$1,054,704
X-4 Accounts receivableStart of year $787,505$696,298
X-8 Inventories for sale or useStart of year $114,756$134,172
X-9 Prepaid expenses and deferred chargesStart of year $2,023,625$1,839,056
X-10c Land, buildings and equipment, netStart of year $125,109,770$120,350,741
X-11 Publicly traded securitiesStart of year $8,054,683$8,069,769
X-13 Program-related investmentsStart of year $574,185$405,294
X-15 Other assetsStart of year $159,603,391$153,264,488
X-16 Total assetsStart of year $348,823,703$335,465,324
X-17 Accounts payable and accrued expensesStart of year $4,186,101$4,499,044
X-19 Deferred revenueStart of year $201,037$201,037
X-20 Tax-exempt bond liabilitiesStart of year $62,578,461$61,226,321
X-25 Other liabilitiesStart of year $4,622,522$4,473,425
X-26 Total liabilitiesStart of year $88,513,031$87,334,477
X-27 Net assets without donor restrictionsStart of year $71,160,331$72,997,366
X-28 Net assets with donor restrictionsStart of year $189,150,341$175,133,481
X-32 Total net assets or fund balancesStart of year $260,310,672$248,130,847
X-33 Total liabilities and net assetsStart of year $348,823,703$335,465,324
Part XI · Reconciliation of net assets $248,130,847 net assets at year end
XI-1 Total revenue$86,888,119
XI-2 Total expenses$101,181,074
XI-3 Revenue less expenses−$14,292,955
XI-4 Net assets at start of year$260,310,672
XI-5 Net unrealized gains (losses) on investments$1,511,620
XI-9 Other changes in net assets$601,510
XI-10 Net assets at end of year$248,130,847

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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