Goucher College

Tax-deductible

Baltimore, MD501(c)(3)Since 1885Colleges & UniversitiesEIN 52-0591613Revenue $117.3M in FY2025

On file with the IRSgoucher.edu1021 Dulaney Valley Rd, 21204-2753 · Baltimore, MDTax-exempt since Sep 1931School — 170(b)(1)(A)(ii)

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Goucher College provides an innovative liberal arts education that prepares students with a broad, humane perspective for a life of inquiry, creativity, and critical and analytical thinking. The College's vision is to become a top-100 national liberal arts college known for offering a transformational education that delivers graduates who can solve complex problems within a diverse, global community.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 226 volunteers and 1,243 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
3 of 6
filings with a surplus
Average deficit $2.0M a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.2M
to officers and key staff · 2% of spending
Top officer’s pay lower than 82% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $342K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$123.7M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 31 voting members
Looks good: 30 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$117.3M
-16% vs prior year
Spent
$114.2M
To programs
82%
Net assets
$367.5M
By yearFY2020–FY2025
Revenue
$117.3M
FY2025▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$93.7M
FY2021$93.5M
FY2022$98.2M
FY2023$84.6M
FY2024$139.6M
FY2025$117.3M
Expenses
$114.2M
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$110.4M
FY2021$89.6M
FY2022$105.4M
FY2023$108.3M
FY2024$110.9M
FY2025$114.2M
Net assets
$367.5M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$259.6M
FY2021$331.8M
FY2022$312.7M
FY2023$302.8M
FY2024$352.0M
FY2025$367.5M

From the FY2025 Form 990 (year ending June 2025) · 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: FY2025. IRS ruling in Sep 1931.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $94.2M Management & general 15% · $17.5M Fundraising 2% · $2.5M

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; $2.2M 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
$341,097Pt VII · Sec A
VP for Advancement
$249,851Pt VII · Sec A
$233,448Pt VII · Sec A
VP for Campus Operations
$196,782Pt VII · Sec A
VP of Marketing and Communications
$193,882Pt VII · Sec A
VP of Student Affairs
$192,713Pt VII · Sec A
Associate VP of Finance and Controller
$187,760Pt VII · Sec A
Associate VP for Enrollment Management
$145,686Pt VII · Sec A

Kent Devereaux’s $341K as President is at the 18th 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
Kent Devereaux$341,097$450,411$418,853$392,783$294,041$97,855
Jose' Antonio Bowen—————$326,139
David Valentine——$250,911$113,378——
Michele Y Ewing$249,851$236,567$232,308$237,181$119,800—
Elaine Meyer-Lee$233,448$230,583$226,198$236,277$121,502—
Jonathan Lindsay—$204,511$201,273$213,488$185,591—
Lynne Lochte————$62,927$201,834
Erik Thompson$196,782$194,276$190,927$194,520——

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 inquiry, creativity, and critical thinking for life.

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Provided by the organization

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3 programs · $94.2M · in their own filed words · FY2024
01

The College provided an Undergraduate Arts and Sciences education to 981 students. Goucher's academic philosophy is focused on 3Rs: relationships, resilience, and reflection, and coursework reflects the core values of a liberal arts education: proficiency in English composition and in a foreign language, solid foundations in history…

$87.7Mprogram expense
02

The College provided a graduate education to 478 students. The Welch Center for Graduate and Professional Studies offers a diverse range of academic programs, including: Master of Arts and Master of Fine Arts degrees in areas such as education, teaching, historic preservation, arts administration, cultural sustainability, digital arts…

$6.2Mprogram expense
03

The College provided credit and non-credit continuing studies course work for 510 participants. Goucher is home to the College Board's Advanced Placement (AP) Summer Institute, training teachers in AP courses from across the country and around the world.

$400Kprogram 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 7 funders →
Grants paid · 16 grants · $213.7M · 2019–2024
Unitemized GrantFY2024$37,323,856
Unitemized GrantFY2024$521,276
Unitemized GrantFY2023$34,293,177
Unitemized GrantFY2023$484,002
Unitemized GrantFY2022$33,539,777
Unitemized GrantFY2022$366,880
Unitemized GrantFY2022$258,648
Unitemized GrantFY2021$33,647,646
Unitemized GrantFY2021$1,933,101
Unitemized GrantFY2021$230,102
Unitemized GrantFY2020$30,368,806
Unitemized GrantFY2020$738,532
Unitemized GrantFY2020$248,196
Unitemized GrantFY2019$38,680,349
Unitemized GrantFY2019$787,662
Unitemized GrantFY2019$262,624

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$117.3M
Ln 12
Fees for servicesLn 2g$70.5M
Gifts and grantsLn 1h$25.5M
Investment incomeLn 3$20.3M
Money outPt IX
$114.2M
Ln 25
Programscol B$94.2M
Managementcol C$17.5M
Fundraisingcol D$2.5M
Owns and owesPt X
$367.5M
net assets · Ln 32
Cash and savingsLn 1–2$5.5M
Total assetsLn 16$491.2M
LiabilitiesLn 26$123.7M
PeoplePt VI, VII
41
listed · VII A
PaidVII A11
Voting boardVI 1a31
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25.5M
Government grantsLn 1e$5.1M
Noncash giftsLn 1g$1.1M
Fundraising eventsLn 1c$22K
Fees for servicesLn 2g$70.5M
Investment incomeLn 3$20.3M
Other incomeLn 4–11$1.1M
Gains on assetsLn 7$16.9M
Total revenueLn 12$117.3M
Assets in detailPt X, end of year
CashLn 1$4.3M
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$5.5M
InvestmentsLn 11–13$303.2M
Land, buildings, equipmentLn 10c$155.0M
Other assetsLn 15$14.1M
Total assetsLn 16$491.2M
LiabilitiesLn 26$123.7M
Net assetsLn 32$367.5M
OperationsPt I, VI
EmployeesI 51,243
VolunteersI 6226
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$3.4M$5.5M
InvestmentsLn 11–13$277.5M$303.2M
Land, buildings, equipmentLn 10c$155.4M$155.0M
Total assetsLn 16$477.5M$491.2M
LiabilitiesLn 26$125.5M$123.7M
Net assetsLn 32$352.0M$367.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$37.8M$37.8M
Grants and assistance to foreign recipientsLn 3$321K$321K
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$1.9M$655K$875K$370K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$30.5M$22.2M$6.8M$1.5M
Pension plan contributionsLn 8$745K$439K$268K$37K
Other employee benefitsLn 9$3.4M$2.4M$941K$81K
Payroll taxesLn 10$2.3M$1.6M$550K$121K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$422K$179K$240K$3K
Accounting feesLn 11c$157K$0$157K$0
Lobbying feesLn 11d$16K$0$16K$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$2.3M$0$2.3M$0
Other fees for servicesLn 11g$3.5M$2.6M$801K$99K
Advertising and promotionLn 12$619K$113K$452K$55K
Office expensesLn 13$2.7M$2.3M$327K$38K
Information technologyLn 14$3.2M$2.0M$1.2M$83
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$2.0M$1.4M$484K$38K
TravelLn 17$886K$829K$33K$24K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$162K$143K$18K$1K
InterestLn 20$4.0M$3.7M$288K$23K
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$9.2M$8.6M$458K$92K
InsuranceLn 23$972K$0$972K$0
Other expenses (24a–d)Ln 24$7.1M$6.7M$303K$75K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$114.2M$94.2M$17.5M$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $117.3M$114.2M$3.1M$367.5M 990 PDF
FY2024 $139.6M$110.9M$28.6M$352.0M 990 PDF
FY2023 $84.6M$108.3M−$23.7M$302.8M 990 PDF
FY2022 $98.2M$105.4M−$7.2M$312.7M 990 PDF
FY2021 $93.5M$89.6M$3.9M$331.8M 990 PDF
FY2020 $93.7M$110.4M−$16.7M$259.6M 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 FY2025 990 (6 parts)
Part I · Summary $117,345,572 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $67,499,783$25,498,990
I-9 Program service revenuePrior year $66,180,376$70,481,179
I-10 Investment incomePrior year $5,252,955$20,297,623
I-11 Other revenuePrior year $620,480$1,067,780
I-12 Total revenuePrior year $139,553,594$117,345,572
I-13 Grants and similar amounts paidPrior year $34,892,743$38,166,102
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $38,873,199$38,819,673
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $37,151,903$37,226,493
I-18 Total expensesPrior year $110,917,845$114,212,268
I-19 Revenue less expensesPrior year $28,635,749$3,133,304
Part VI · Governance 30 of 31 board members independent, no flags
VI-1a Voting members of the governing body31
VI-1b Independent voting members30
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 $117,345,572 across 16 lines filed
Lines not itemized here account for $687,046 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$21,800
VIII-1d Related organizations$0
VIII-1e Government grants$5,064,147
VIII-1f All other contributions, gifts and grants$20,413,043
VIII-1g Noncash contributions (included above)$1,079,474
VIII-1h Total contributions, gifts and grants$25,498,990
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $70,481,179 · Unrelated business $0 · Excluded from tax $0$70,481,179
VIII-3 Investment incomeRelated to mission $0 · Unrelated business −$71,146 · Excluded from tax $3,240,445$3,169,299
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $58,963 · Excluded from tax $17,972$76,935
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $16,922,318$16,922,318
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$23,614−$23,614
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $333,419 · Excluded from tax $200,000$533,419
VIII-12 Total revenueRelated to mission $70,481,179 · Unrelated business $321,236 · Excluded from tax $21,044,167$117,345,572
Part IX · Statement of functional expenses $114,212,268 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $37,845,132$37,845,132
IX-3 Grants and assistance to foreign recipientsPrograms $320,970$320,970
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $654,584 · Management $875,358 · Fundraising $370,153$1,900,095
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $22,205,661 · Management $6,819,061 · Fundraising $1,452,821$30,477,543
IX-8 Pension plan contributionsPrograms $439,262 · Management $268,399 · Fundraising $36,977$744,638
IX-9 Other employee benefitsPrograms $2,408,315 · Management $941,206 · Fundraising $80,791$3,430,312
IX-10 Payroll taxesPrograms $1,596,008 · Management $550,137 · Fundraising $120,940$2,267,085
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $179,487 · Management $239,670 · Fundraising $2,972$422,129
IX-11c Accounting feesPrograms $0 · Management $157,151 · Fundraising $0$157,151
IX-11d Lobbying feesPrograms $0 · Management $15,911 · Fundraising $0$15,911
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $2,260,263 · Fundraising $0$2,260,263
IX-11g Other fees for servicesPrograms $2,600,255 · Management $801,102 · Fundraising $98,637$3,499,994
IX-12 Advertising and promotionPrograms $112,531 · Management $451,598 · Fundraising $55,140$619,269
IX-13 Office expensesPrograms $2,349,394 · Management $327,453 · Fundraising $38,345$2,715,192
IX-14 Information technologyPrograms $2,026,452 · Management $1,220,035 · Fundraising $83$3,246,570
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $1,428,798 · Management $483,613 · Fundraising $38,174$1,950,585
IX-17 TravelPrograms $828,648 · Management $33,486 · Fundraising $23,991$886,125
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $142,681 · Management $17,990 · Fundraising $1,261$161,932
IX-20 InterestPrograms $3,727,528 · Management $287,686 · Fundraising $23,190$4,038,404
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $8,613,313 · Management $458,155 · Fundraising $91,631$9,163,099
IX-23 InsurancePrograms $0 · Management $972,393 · Fundraising $0$972,393
IX-24 Other expenses (24a–d)Programs $6,738,804 · Management $303,379 · Fundraising $75,293$7,117,476
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $94,217,823 · Management $17,484,046 · Fundraising $2,510,399$114,212,268
Part X · Balance sheet $491,172,321 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $2,211,241$4,262,400
X-2 Savings and temporary cash investmentsStart of year $1,220,711$1,221,029
X-3 Pledges and grants receivableStart of year $3,236,135$8,753,566
X-4 Accounts receivableStart of year $2,427,873$2,229,642
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $2,406,886$2,367,904
X-10c Land, buildings and equipment, netStart of year $155,441,287$155,044,980
X-11 Publicly traded securitiesStart of year $188,388,418$187,289,229
X-12 Other securitiesStart of year $83,338,499$110,771,111
X-13 Program-related investmentsStart of year $5,735,254$5,135,728
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $33,097,938$14,096,732
X-16 Total assetsStart of year $477,504,242$491,172,321
X-17 Accounts payable and accrued expensesStart of year $5,636,195$6,875,035
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,496,053$2,962,718
X-20 Tax-exempt bond liabilitiesStart of year $106,145,277$105,862,637
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $8,387,115$8,006,319
X-26 Total liabilitiesStart of year $125,464,640$123,706,709
X-27 Net assets without donor restrictionsStart of year $68,052,974$53,062,696
X-28 Net assets with donor restrictionsStart of year $283,986,628$314,402,916
X-32 Total net assets or fund balancesStart of year $352,039,602$367,465,612
X-33 Total liabilities and net assetsStart of year $477,504,242$491,172,321
Part XI · Reconciliation of net assets $367,465,612 net assets at year end
XI-1 Total revenue$117,345,572
XI-2 Total expenses$114,212,268
XI-3 Revenue less expenses$3,133,304
XI-4 Net assets at start of year$352,039,602
XI-5 Net unrealized gains (losses) on investments$13,265,010
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$972,304
XI-10 Net assets at end of year$367,465,612

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

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