Mills College FY2021 filing

Oakland, CAHigher education institutionSince 1852 EIN 94-1156566Revenue $67.0M in FY2021

On file with the IRSmills.edu5000 Macarthur Boulevard · Oakland, CA

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Founded in 1852 and located in Oakland, California, in the heart of the San Francisco Bay Area, Mills College (The "College") is a Liberal Arts College for women and gender non-binary students, with graduate programs for all genders.

80¢ of each $1 spent went to programs.
$2.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $16.5M a year · 27% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.0M
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
3 mo
of spending, in cash
Plus $214.4M in investments, Pt X · Ln 11–13
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $31K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$47.0M
13% of total assets
Looks good: liabilities are 13% 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
$67.0M
-6% vs prior year
Spent
$76.2M
To programs
80%
Net assets
$303.2M
By yearFY2020–FY2022
Revenue
$67.0M
FY2021▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$70.9M
FY2021$67.0M
FY2022$43.0M
Expenses
$76.2M
FY2021▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$73.6M
FY2021$76.2M
FY2022$80.6M
Net assets
$303.2M
FY2021▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$272.5M
FY2021$303.2M
FY2022$0

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $61.3M Management & general 17% · $13.1M Fundraising 2% · $1.7M

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

36 people listed on the 990; $2.0M 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
$304,428Pt VII · Sec A
Provost & Dean of the Faculty
$212,919Pt VII · Sec A
VP for Finance and Admin / Treasurer
$188,715Pt VII · Sec A
VP for Strategic Comms & Operations
$180,845Pt VII · Sec A
Dean, Lokey School / Professor
$171,652Pt VII · Sec A
Dean, School of Educ. / Professor
$169,350Pt VII · Sec A
Associate VP of Human Resources
$163,795Pt VII · Sec A
Chief Engineer
$162,839Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2022FY2021FY2020
Elizabeth Hillman$419,349——
Elizabeth L Hillman—$304,428$300,855
Maria Cammarata$250,564$188,715$195,161
Jeffrey E Jackanicz——$231,188
Renee Jadushlever$225,360$180,845—
Julia Oparah$151,435$212,919$212,755
Audrey Tanner—$158,377$205,519
Kamala Green$205,318$163,795—

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 women and gender non-binary students in liberal arts, offering graduate programs for all.

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Provided by the organization

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2 programs · $61.3M · in their own filed words · FY2020
01

With a total enrollment of 1,050 students, representing 38 states and 12 countries, the college provides instruction, research, public service, and academic support to 657 undergraduate, 387 graduate, and 5 non-degree students.

$34.7Mprogram expense
02

The college provides auxiliary services, including student housing, food services, and other student services.

$26.6Mprogram 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 · FY2024
See all 4 funders →
Grants paid · 12 grants · $36.1M · 2019–2021
Unitemized GrantFY2021$11,020,922
Unitemized GrantFY2021$845,759
Unitemized GrantFY2021$178,514
Unitemized GrantFY2021$44,057
Unitemized GrantFY2020$10,365,705
Unitemized GrantFY2020$494,389
Unitemized GrantFY2020$162,352
Unitemized GrantFY2020$144,920
Unitemized GrantFY2019$11,889,307
Unitemized GrantFY2019$430,088
Unitemized GrantFY2019$407,483
Unitemized GrantFY2019$90,645

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$67.0M
Ln 12
Fees for servicesLn 2g$30.4M
Investment incomeLn 3$22.1M
Gifts and grantsLn 1h$12.2M
Money outPt IX
$76.2M
Ln 25
Programscol B$61.3M
Managementcol C$13.1M
Fundraisingcol D$1.7M
Owns and owesPt X
$303.2M
net assets · Ln 32
Cash and savingsLn 1–2$17.7M
Total assetsLn 16$350.1M
LiabilitiesLn 26$47.0M
PeoplePt VI, VII
36
listed · VII A
PaidVII A11
Voting boardVI 1a24
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.2M
Government grantsLn 1e$6.9M
Noncash giftsLn 1g$289K
Fees for servicesLn 2g$30.4M
Investment incomeLn 3$22.1M
Other incomeLn 4–11$2.4M
Gains on assetsLn 7$18.8M
Total revenueLn 12$67.0M
Assets in detailPt X, end of year
CashLn 1$3.5M
SavingsLn 2$14.3M
Cash and savings togetherLn 1–2$17.7M
InvestmentsLn 11–13$214.4M
Land, buildings, equipmentLn 10c$95.0M
Other assetsLn 15$3.5M
Total assetsLn 16$350.1M
LiabilitiesLn 26$47.0M
Net assetsLn 32$303.2M
OperationsPt I, VI
EmployeesI 51,330
VolunteersI 6264
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$18.4M$17.7M
InvestmentsLn 11–13$174.7M$214.4M
Land, buildings, equipmentLn 10c$99.9M$95.0M
Total assetsLn 16$315.2M$350.1M
LiabilitiesLn 26$42.8M$47.0M
Net assetsLn 32$272.5M$303.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$11.2M$11.2M
Pay of current officers, directors and key staffLn 5$1.4M$367K$983K
Other salaries and wagesLn 7$28.9M$23.1M$4.7M$1.1M
Pension plan contributionsLn 8$23K$23K
Other employee benefitsLn 9$3.2M$2.2M$798K$118K
Payroll taxesLn 10$2.0M$1.7M$283K$82K
Legal feesLn 11b$213K$2K$171K$41K
Accounting feesLn 11c$174K$174K
Investment management feesLn 11f$1.7M$1.4M$297K$39K
Other fees for servicesLn 11g$7.5M$5.8M$1.7M$47K
Advertising and promotionLn 12$173K$163K$10K$20
Office expensesLn 13$797K$606K$123K$68K
Information technologyLn 14$2.0M$692K$1.2M$43K
OccupancyLn 16$9.7M$8.5M$1.1M$57K
TravelLn 17$14K$10K$4K
Conferences, conventions and meetingsLn 19$124K$95K$27K$2K
InterestLn 20$980K$788K$169K$22K
Depreciation, depletion and amortizationLn 22$4.7M$3.8M$808K$107K
InsuranceLn 23$515K$74K$441K
Other expenses (24a–d)Ln 24$846K$811K$34K$2K
All other expensesLn 24e$114K$96K$18K
Total functional expensesLn 25$76.2M$61.3M$13.1M$1.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $43.0M$80.6M−$37.5M$0 990 PDF
FY2021 Viewing $67.0M$76.2M−$9.2M$303.2M 990 PDF
FY2020 $70.9M$73.6M−$2.7M$272.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $66,976,273 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,080,897$12,154,165
I-9 Program service revenuePrior year $42,401,733$30,402,318
I-10 Investment incomePrior year $4,039,293$22,069,767
I-11 Other revenuePrior year $4,361,923$2,350,023
I-12 Total revenuePrior year $70,883,846$66,976,273
I-13 Grants and similar amounts paidPrior year $12,817,523$11,167,366
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $37,745,785$35,475,466
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $23,014,463$29,525,039
I-18 Total expensesPrior year $73,577,771$76,167,871
I-19 Revenue less expensesPrior year −$2,693,925−$9,191,598
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 $66,976,273 across 10 lines filed
VIII-1e Government grants$6,919,270
VIII-1f All other contributions, gifts and grants$5,234,895
VIII-1g Noncash contributions (included above)$289,112
VIII-1h Total contributions, gifts and grants$12,154,165
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $30,402,318$30,402,318
VIII-3 Investment incomeUnrelated business $43,510 · Excluded from tax $3,191,349$3,234,859
VIII-6 Net rental income or lossExcluded from tax $1,245$1,245
VIII-7 Net gain or loss on sales of assetsExcluded from tax $18,834,908$18,834,908
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $446,050 · Excluded from tax $1,902,728$2,348,778
VIII-12 Total revenueRelated to mission $30,848,368 · Unrelated business $43,510 · Excluded from tax $23,930,230$66,976,273
Part IX · Statement of functional expenses $76,167,871 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $11,167,366$11,167,366
IX-5 Pay of current officers, directors and key staffPrograms $367,370 · Management $983,116$1,350,486
IX-7 Other salaries and wagesPrograms $23,082,676 · Management $4,737,948 · Fundraising $1,113,537$28,934,161
IX-8 Pension plan contributionsPrograms $22,988$22,988
IX-9 Other employee benefitsPrograms $2,235,066 · Management $797,759 · Fundraising $117,549$3,150,374
IX-10 Payroll taxesPrograms $1,652,189 · Management $283,187 · Fundraising $82,081$2,017,457
IX-11b Legal feesPrograms $1,798 · Management $170,777 · Fundraising $40,903$213,478
IX-11c Accounting feesManagement $173,633$173,633
IX-11f Investment management feesPrograms $1,381,621 · Management $296,744 · Fundraising $39,239$1,717,604
IX-11g Other fees for servicesPrograms $5,823,754 · Management $1,677,059 · Fundraising $46,769$7,547,582
IX-12 Advertising and promotionPrograms $162,853 · Management $10,065 · Fundraising $20$172,938
IX-13 Office expensesPrograms $606,219 · Management $123,282 · Fundraising $67,510$797,011
IX-14 Information technologyPrograms $691,880 · Management $1,246,091 · Fundraising $42,552$1,980,523
IX-16 OccupancyPrograms $8,454,373 · Management $1,141,212 · Fundraising $57,346$9,652,931
IX-17 TravelPrograms $10,326 · Management $3,664$13,990
IX-19 Conferences, conventions and meetingsPrograms $94,644 · Management $26,760 · Fundraising $2,160$123,564
IX-20 InterestPrograms $788,336 · Management $169,318 · Fundraising $22,390$980,044
IX-22 Depreciation, depletion and amortizationPrograms $3,761,374 · Management $807,865 · Fundraising $106,827$4,676,066
IX-23 InsurancePrograms $74,284 · Management $440,861$515,145
IX-24 Other expenses (24a–d)Programs $810,833 · Management $33,534 · Fundraising $1,707$846,074
IX-24e All other expensesPrograms $96,270 · Management $18,186$114,456
IX-25 Total functional expensesPrograms $61,286,220 · Management $13,141,061 · Fundraising $1,740,590$76,167,871
Part X · Balance sheet $350,121,466 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $2,792,571$3,480,264
X-2 Savings and temporary cash investmentsStart of year $15,618,072$14,250,223
X-3 Pledges and grants receivableStart of year $15,042,900$14,979,969
X-4 Accounts receivableStart of year $2,118,185$3,080,156
X-8 Inventories for sale or useStart of year $35,411$32,171
X-9 Prepaid expenses and deferred chargesStart of year $1,509,211$1,372,943
X-10c Land, buildings and equipment, netStart of year $99,866,786$95,006,130
X-11 Publicly traded securitiesStart of year $48,272,993$77,066,946
X-12 Other securitiesStart of year $125,699,356$136,945,312
X-13 Program-related investmentsStart of year $728,810$414,609
X-15 Other assetsStart of year $3,539,243$3,492,743
X-16 Total assetsStart of year $315,223,538$350,121,466
X-17 Accounts payable and accrued expensesStart of year $4,054,989$5,874,309
X-19 Deferred revenueStart of year $1,784,536$782,820
X-20 Tax-exempt bond liabilitiesStart of year $25,583,745$24,253,909
X-24 Unsecured notes and loans payableStart of year $1,999,800$1,999,800
X-25 Other liabilitiesStart of year $3,333,279$9,041,621
X-26 Total liabilitiesStart of year $42,756,349$46,952,459
X-27 Net assets without donor restrictionsStart of year $70,569,068$64,091,751
X-28 Net assets with donor restrictionsStart of year $201,898,121$239,077,256
X-32 Total net assets or fund balancesStart of year $272,467,189$303,169,007
X-33 Total liabilities and net assetsStart of year $315,223,538$350,121,466
Part XI · Reconciliation of net assets $303,169,007 net assets at year end
XI-1 Total revenue$66,976,273
XI-2 Total expenses$76,167,871
XI-3 Revenue less expenses−$9,191,598
XI-4 Net assets at start of year$272,467,189
XI-5 Net unrealized gains (losses) on investments$37,833,000
XI-9 Other changes in net assets$2,060,416
XI-10 Net assets at end of year$303,169,007

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

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