Goucher College FY2024 filing

Tax-deductible

Baltimore, MD501(c)(3)Since 1885Colleges & UniversitiesEIN 52-0591613Revenue $139.6M in FY2024

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.
83¢ of each $1 spent went to programs.
$2.5M 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

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
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
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
$2.5M
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
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
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
$125.5M
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 32 voting members
Looks good: 31 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$139.6M
+65% vs prior year
Spent
$110.9M
To programs
83%
Net assets
$352.0M
By yearFY2020–FY2025
Revenue
$139.6M
FY2024▲ +65%
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
$110.9M
FY2024▲ +2%
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
$352.0M
FY2024▲ +16%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Sep 1931.

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% · $91.5M Management & general 15% · $16.8M Fundraising 2% · $2.6M

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

43 people listed on the 990; $2.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$450,411Pt VII · Sec A
VP for Advancement
$236,567Pt VII · Sec A
$230,583Pt VII · Sec A
VP for Enrollment Management
$204,511Pt VII · Sec A
VP for Campus Operations
$194,276Pt VII · Sec A
Associate VP of Finance and Controller
$188,699Pt VII · Sec A
Vice President of Student Affairs
$185,289Pt VII · Sec A
Associate VP for Human Resources
$181,122Pt 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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3 programs · $91.5M · in their own filed words · FY2023
01

The College provided an Undergraduate Arts and Sciences education to 965 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…

$84.3Mprogram expense
02

The College provided a graduate education to 536 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…

$6.8Mprogram expense
03

The College provided credit and non-credit continuing studies course work for 601 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.

$427Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$139.6M
Ln 12
Gifts and grantsLn 1h$67.5M
Fees for servicesLn 2g$66.2M
Investment incomeLn 3$5.3M
Money outPt IX
$110.9M
Ln 25
Programscol B$91.5M
Managementcol C$16.8M
Fundraisingcol D$2.6M
Owns and owesPt X
$352.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$477.5M
LiabilitiesLn 26$125.5M
PeoplePt VI, VII
43
listed · VII A
PaidVII A12
Voting boardVI 1a32
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$67.5M
Government grantsLn 1e$5.5M
Noncash giftsLn 1g$459K
Fundraising eventsLn 1c$33K
Fees for servicesLn 2g$66.2M
Investment incomeLn 3$5.3M
Other incomeLn 4–11$620K
Gains on assetsLn 7$3.3M
Total revenueLn 12$139.6M
Assets in detailPt X, end of year
CashLn 1$2.2M
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$3.4M
InvestmentsLn 11–13$277.5M
Land, buildings, equipmentLn 10c$155.4M
Other assetsLn 15$33.1M
Total assetsLn 16$477.5M
LiabilitiesLn 26$125.5M
Net assetsLn 32$352.0M
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 FY24End FY24
Cash and savingsLn 1–2$5.7M$3.4M
InvestmentsLn 11–13$246.0M$277.5M
Land, buildings, equipmentLn 10c$162.0M$155.4M
Total assetsLn 16$430.3M$477.5M
LiabilitiesLn 26$127.5M$125.5M
Net assetsLn 32$302.8M$352.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$34.8M$34.8M
Grants and assistance to foreign recipientsLn 3$116K$116K
Pay of current officers, directors and key staffLn 5$1.6M$569K$613K$369K
Pay of disqualified personsLn 6$0$0$0
Other salaries and wagesLn 7$30.6M$22.2M$7.1M$1.3M
Pension plan contributionsLn 8$1.2M$803K$382K$49K
Other employee benefitsLn 9$3.2M$2.2M$851K$81K
Payroll taxesLn 10$2.3M$1.6M$559K$120K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$234K$121K$110K$4K
Accounting feesLn 11c$135K$135K
Lobbying feesLn 11d$14K$14K
Investment management feesLn 11f$1.1M$1.1M
Other fees for servicesLn 11g$5.4M$3.7M$1.5M$282K
Advertising and promotionLn 12$549K$130K$360K$60K
Office expensesLn 13$2.3M$1.9M$313K$41K
Information technologyLn 14$1.6M$147K$1.4M$25K
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$3.9M$3.6M$201K$55K
TravelLn 17$1.1M$970K$49K$31K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$210K$181K$21K$7K
InterestLn 20$4.0M$3.7M$286K$23K
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$8.9M$8.4M$447K$89K
InsuranceLn 23$988K$988K
Other expenses (24a–d)Ln 24$6.8M$6.4M$334K$69K
Total functional expensesLn 25$110.9M$91.5M$16.8M$2.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $117.3M$114.2M$3.1M$367.5M 990 PDF
FY2024 Viewing $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 FY2024 990 (6 parts)
Part I · Summary $139,553,594 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,779,121$67,499,783
I-9 Program service revenuePrior year $67,118,512$66,180,376
I-10 Investment incomePrior year $2,890,618$5,252,955
I-11 Other revenuePrior year $797,314$620,480
I-12 Total revenuePrior year $84,585,565$139,553,594
I-13 Grants and similar amounts paidPrior year $34,254,562$34,892,743
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $37,075,544$38,873,199
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $36,928,954$37,151,903
I-18 Total expensesPrior year $108,259,060$110,917,845
I-19 Revenue less expensesPrior year −$23,673,495$28,635,749
Part VI · Governance 31 of 32 board members independent, no flags
VI-1a Voting members of the governing body32
VI-1b Independent voting members31
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 $139,553,594 across 16 lines filed
Lines not itemized here account for $748,323 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$33,357
VIII-1d Related organizations$0
VIII-1e Government grants$5,526,860
VIII-1f All other contributions, gifts and grants$61,939,566
VIII-1g Noncash contributions (included above)$458,780
VIII-1h Total contributions, gifts and grants$67,499,783
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $66,180,376 · Unrelated business $0 · Excluded from tax $0$66,180,376
VIII-3 Investment incomeRelated to mission $0 · Unrelated business −$322,774 · Excluded from tax $2,154,708$1,831,934
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 −$254,561 · Excluded from tax $17,121−$237,440
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $7,879 · Excluded from tax $3,264,426$3,272,305
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$24,307−$24,307
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $282,620 · Excluded from tax $0$282,620
VIII-12 Total revenueRelated to mission $66,180,376 · Unrelated business −$286,836 · Excluded from tax $6,160,271$139,553,594
Part IX · Statement of functional expenses $110,917,845 across 27 lines filed
IX-2 Grants to domestic individualsPrograms $34,777,179$34,777,179
IX-3 Grants and assistance to foreign recipientsPrograms $115,564$115,564
IX-5 Pay of current officers, directors and key staffPrograms $568,750 · Management $613,412 · Fundraising $368,912$1,551,074
IX-6 Pay of disqualified personsPrograms $0 · Management $0$0
IX-7 Other salaries and wagesPrograms $22,194,465 · Management $7,132,169 · Fundraising $1,317,842$30,644,476
IX-8 Pension plan contributionsPrograms $802,923 · Management $382,496 · Fundraising $49,190$1,234,609
IX-9 Other employee benefitsPrograms $2,236,083 · Management $851,386 · Fundraising $81,414$3,168,883
IX-10 Payroll taxesPrograms $1,594,929 · Management $559,148 · Fundraising $120,080$2,274,157
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $120,501 · Management $109,650 · Fundraising $4,276$234,427
IX-11c Accounting feesManagement $134,721$134,721
IX-11d Lobbying feesManagement $14,013$14,013
IX-11f Investment management feesManagement $1,115,072$1,115,072
IX-11g Other fees for servicesPrograms $3,656,182 · Management $1,460,195 · Fundraising $282,467$5,398,844
IX-12 Advertising and promotionPrograms $129,891 · Management $359,980 · Fundraising $59,615$549,486
IX-13 Office expensesPrograms $1,927,427 · Management $312,803 · Fundraising $41,193$2,281,423
IX-14 Information technologyPrograms $147,117 · Management $1,400,812 · Fundraising $25,000$1,572,929
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $3,597,749 · Management $201,289 · Fundraising $55,184$3,854,222
IX-17 TravelPrograms $969,771 · Management $49,476 · Fundraising $31,173$1,050,420
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $181,269 · Management $21,465 · Fundraising $7,226$209,960
IX-20 InterestPrograms $3,704,727 · Management $285,926 · Fundraising $23,048$4,013,701
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $8,406,156 · Management $447,136 · Fundraising $89,427$8,942,719
IX-23 InsuranceManagement $987,887$987,887
IX-24 Other expenses (24a–d)Programs $6,389,466 · Management $333,835 · Fundraising $68,778$6,792,079
IX-25 Total functional expensesPrograms $91,520,149 · Management $16,772,871 · Fundraising $2,624,825$110,917,845
Part X · Balance sheet $477,504,242 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $4,490,874$2,211,241
X-2 Savings and temporary cash investmentsStart of year $1,215,008$1,220,711
X-3 Pledges and grants receivableStart of year $2,126,762$3,236,135
X-4 Accounts receivableStart of year $2,482,373$2,427,873
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $2,484,493$2,406,886
X-10c Land, buildings and equipment, netStart of year $162,025,564$155,441,287
X-11 Publicly traded securitiesStart of year $160,064,820$188,388,418
X-12 Other securitiesStart of year $80,353,956$83,338,499
X-13 Program-related investmentsStart of year $5,612,428$5,735,254
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $9,469,016$33,097,938
X-16 Total assetsStart of year $430,325,294$477,504,242
X-17 Accounts payable and accrued expensesStart of year $7,036,176$5,636,195
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,300,278$2,496,053
X-20 Tax-exempt bond liabilitiesStart of year $106,162,762$106,145,277
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $9,239,371$8,387,115
X-26 Total liabilitiesStart of year $127,538,587$125,464,640
X-27 Net assets without donor restrictionsStart of year $79,499,935$68,052,974
X-28 Net assets with donor restrictionsStart of year $223,286,772$283,986,628
X-32 Total net assets or fund balancesStart of year $302,786,707$352,039,602
X-33 Total liabilities and net assetsStart of year $430,325,294$477,504,242
Part XI · Reconciliation of net assets $352,039,602 net assets at year end
XI-1 Total revenue$139,553,594
XI-2 Total expenses$110,917,845
XI-3 Revenue less expenses$28,635,749
XI-4 Net assets at start of year$302,786,707
XI-5 Net unrealized gains (losses) on investments$19,742,760
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$874,386
XI-10 Net assets at end of year$352,039,602

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

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