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Menlo College FY2020 filing

Tax-deductible

Atherton, CA501(c)(3)Since 1994EIN 94-3204136Revenue $51.5M in FY2020

On file with the IRSmenlo.edu1000 El Camino Real, 94027-4300 · Atherton, CATax-exempt since Oct 1994School — 170(b)(1)(A)(ii)

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Menlo College was founded in 1927 as a component of Menlo school and College. On july 1, 1994, the College commenced operations as a separate, non-profit, coeducational institution of higher education. (continued on schedule o)the separation between Menlo school and Menlo College was finalized in 2008. Today Menlo operates as a small, innovative, private residential College recognized by the princeton review for the excellence of its programs.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$1.7M 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

FY2020 · 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 $4.1M a year · 7% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
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
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
18
named funders · $1.8M
Looks good: 18 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$7.3M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$51.5M
Spent
$49.7M
To programs
86%
Net assets
$29.5M
By yearFY2020–FY2025
Revenue
$51.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$51.5M
FY2021$52.0M
FY2022$68.8M
FY2023$56.9M
FY2024$62.6M
FY2025$60.3M
Expenses
$49.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$49.7M
FY2021$44.8M
FY2022$50.9M
FY2023$58.9M
FY2024$61.6M
FY2025$61.6M
Net assets
$29.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$29.5M
FY2021$43.1M
FY2022$58.0M
FY2023$54.1M
FY2024$56.2M
FY2025$54.7M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Oct 1994.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $42.9M Management & general 12% · $6.2M Fundraising 1% · $619K

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

25 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Steven Weiner
President
$452,172Pt VII · Sec A
Grande Lum
Provost
$249,977Pt VII · Sec A
Frank Wasilewski
VP Fin & Admin (through 1/20)
$180,280Pt VII · Sec A
Soumendra De
Professor
$169,303Pt VII · Sec A
Robert Paton
Professor
$168,588Pt VII · Sec A
Keith Spartaro
VP for Athletics & Enroll.
$166,383Pt VII · Sec A
Angela Schmiede
VP for Student Success
$160,176Pt VII · Sec A
$159,775Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Steven Weiner$432,600$465,000$529,700$471,720$452,106$452,172
Mouwafac Sidaoui$262,583$249,345$244,260$195,415——
Grande Lum——$142,188$230,205$222,647$249,977
Angela Schmiede$229,356$220,155$209,463$186,334$159,708$160,176
Keith Spataro$197,666$215,000$192,160$180,000$169,897—
Melissa Michelson$211,849$201,341$175,120———
Frank Wasilewski—————$180,280
Manish Tewari$179,678$168,875$172,703$163,704$139,497—

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

Develops future leaders with business education combining academics and fieldwork in innovative Silicon Valley.

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Provided by the organization

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1 program · $42.9M · in their own filed words · FY2019
01

The college provides instruction to approximately 828 full-time students in four-year undergraduate management and psychology programs. Expenditures include residence halls, dining, student union, and health services.

$42.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Lillian Lincoln FoundationFY2024$675K
John Pritzker Family FundFY2024$500K
Osborne Family FoundationFY2024$350K
Fidelity Investments Charitable Gift FundFY2024$55K
Morgan Stanley Global Impact Funding Trust INCFY2024$55K
The Dwoskin Family FoundationFY2024$40K
American Online Giving Foundation INCFY2024$30K
Donor Advised Charitable Giving INCFY2024$22K
Total grants receivedfrom 18 funders$1.8M
See all 18 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$51.5M
Ln 12
Fees for servicesLn 2g$45.2M
Gifts and grantsLn 1h$4.9M
Investment incomeLn 3$1.3M
Money outPt IX
$49.7M
Ln 25
Programscol B$42.9M
Managementcol C$6.2M
Fundraisingcol D$619K
Owns and owesPt X
$29.5M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$36.8M
LiabilitiesLn 26$7.3M
PeoplePt VI, VII
25
listed · VII A
PaidVII A8
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Government grantsLn 1e$2.2M
Noncash giftsLn 1g$332K
Fees for servicesLn 2g$45.2M
Investment incomeLn 3$1.3M
Gains on assetsLn 7$917K
Total revenueLn 12$51.5M
Assets in detailPt X, end of year
CashLn 1$630K
SavingsLn 2$2.9M
Cash and savings togetherLn 1–2$3.5M
InvestmentsLn 11–13$19.7M
Land, buildings, equipmentLn 10c$11.4M
Total assetsLn 16$36.8M
LiabilitiesLn 26$7.3M
Net assetsLn 32$29.5M
OperationsPt I, VI
EmployeesI 5455
VolunteersI 620
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 FY20End FY20
Cash and savingsLn 1–2$3.3M$3.5M
InvestmentsLn 11–13$20.6M$19.7M
Land, buildings, equipmentLn 10c$11.3M$11.4M
Total assetsLn 16$37.9M$36.8M
LiabilitiesLn 26$8.9M$7.3M
Net assetsLn 32$29.0M$29.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$22.0M$22.0M
Pay of current officers, directors and key staffLn 5$921K$374K$547K
Other salaries and wagesLn 7$11.7M$8.4M$2.8M$415K
Pension plan contributionsLn 8$733K$489K$212K$32K
Other employee benefitsLn 9$1.0M$674K$294K$40K
Payroll taxesLn 10$861K$629K$203K$29K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$96K$96K
Investment management feesLn 11f$104K$104K
Other fees for servicesLn 11g$900K$610K$290K
Advertising and promotionLn 12$535K$496K$18K$21K
Office expensesLn 13$299K$111K$163K$24K
Information technologyLn 14$439K$46K$345K$48K
OccupancyLn 16$2.3M$1.9M$388K
TravelLn 17$748K$719K$24K$5K
Conferences, conventions and meetingsLn 19$6K$4K$426$2K
InterestLn 20$66K$66K
Depreciation, depletion and amortizationLn 22$1.6M$1.5M$81K
InsuranceLn 23$842K$659K$183K
Other expenses (24a–d)Ln 24$4.5M$4.2M$333K$3K
Total functional expensesLn 25$49.7M$42.9M$6.2M$619K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $60.3M$61.6M−$1.3M$54.7M 990 PDF
FY2024 $62.6M$61.6M$989K$56.2M 990 PDF
FY2023 $56.9M$58.9M−$2.0M$54.1M 990 PDF
FY2022 $68.8M$50.9M$18.0M$58.0M 990 PDF
FY2021 $52.0M$44.8M$7.2M$43.1M 990 PDF
FY2020 Viewing $51.5M$49.7M$1.7M$29.5M 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 FY2020 990 (6 parts)
Part I · Summary $51,451,662 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,295,005$4,916,015
I-9 Program service revenuePrior year $38,562,316$45,205,272
I-10 Investment incomePrior year $1,587,944$1,330,375
I-11 Other revenuePrior year $250,000$0
I-12 Total revenuePrior year $42,695,265$51,451,662
I-13 Grants and similar amounts paidPrior year $17,317,265$21,986,849
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $14,864,059$15,206,114
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,572,165$12,524,666
I-18 Total expensesPrior year $43,753,489$49,717,629
I-19 Revenue less expensesPrior year −$1,058,224$1,734,033
Part VI · Governance 17 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $51,451,662 across 8 lines filed
VIII-1e Government grants$2,222,793
VIII-1f All other contributions, gifts and grants$2,693,222
VIII-1g Noncash contributions (included above)$331,710
VIII-1h Total contributions, gifts and grants$4,916,015
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $45,205,272$45,205,272
VIII-3 Investment incomeExcluded from tax $413,587$413,587
VIII-7 Net gain or loss on sales of assetsExcluded from tax $916,788$916,788
VIII-12 Total revenueRelated to mission $45,205,272 · Unrelated business $0 · Excluded from tax $1,330,375$51,451,662
Part IX · Statement of functional expenses $49,717,629 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $21,986,849$21,986,849
IX-5 Pay of current officers, directors and key staffPrograms $374,246 · Management $546,895$921,141
IX-7 Other salaries and wagesPrograms $8,441,280 · Management $2,825,558 · Fundraising $415,360$11,682,198
IX-8 Pension plan contributionsPrograms $489,297 · Management $211,806 · Fundraising $31,868$732,971
IX-9 Other employee benefitsPrograms $674,159 · Management $293,870 · Fundraising $40,350$1,008,379
IX-10 Payroll taxesPrograms $629,348 · Management $203,080 · Fundraising $28,997$861,425
IX-11b Legal feesManagement $7,682$7,682
IX-11c Accounting feesManagement $95,740$95,740
IX-11f Investment management feesManagement $103,647$103,647
IX-11g Other fees for servicesPrograms $609,708 · Management $289,839$899,547
IX-12 Advertising and promotionPrograms $496,236 · Management $17,917 · Fundraising $20,551$534,704
IX-13 Office expensesPrograms $110,865 · Management $163,480 · Fundraising $24,405$298,750
IX-14 Information technologyPrograms $46,364 · Management $344,605 · Fundraising $47,915$438,884
IX-16 OccupancyPrograms $1,932,661 · Management $387,697$2,320,358
IX-17 TravelPrograms $719,091 · Management $24,218 · Fundraising $4,605$747,914
IX-19 Conferences, conventions and meetingsPrograms $3,503 · Management $426 · Fundraising $2,044$5,973
IX-20 InterestManagement $66,180$66,180
IX-22 Depreciation, depletion and amortizationPrograms $1,534,957 · Management $80,787$1,615,744
IX-23 InsurancePrograms $658,850 · Management $183,057$841,907
IX-24 Other expenses (24a–d)Programs $4,211,449 · Management $333,130 · Fundraising $3,057$4,547,636
IX-25 Total functional expensesPrograms $42,918,863 · Management $6,179,614 · Fundraising $619,152$49,717,629
Part X · Balance sheet $36,820,361 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,071,937$630,175
X-2 Savings and temporary cash investmentsStart of year $2,205,207$2,859,868
X-3 Pledges and grants receivableStart of year $285,000$252,065
X-4 Accounts receivableStart of year $1,437,517$1,660,143
X-8 Inventories for sale or useStart of year $11,841$17,848
X-9 Prepaid expenses and deferred chargesStart of year $454,119$270,001
X-10c Land, buildings and equipment, netStart of year $11,305,320$11,408,555
X-11 Publicly traded securitiesStart of year $14,448,568$13,693,145
X-12 Other securitiesStart of year $6,201,390$6,028,561
X-16 Total assetsStart of year $37,890,083$36,820,361
X-17 Accounts payable and accrued expensesStart of year $3,246,355$1,873,405
X-19 Deferred revenueStart of year $3,783,932$3,122,109
X-25 Other liabilitiesStart of year $1,824,056$2,341,173
X-26 Total liabilitiesStart of year $8,854,343$7,336,687
X-27 Net assets without donor restrictionsStart of year $16,282,779$17,524,534
X-28 Net assets with donor restrictionsStart of year $12,752,961$11,959,140
X-32 Total net assets or fund balancesStart of year $29,035,740$29,483,674
X-33 Total liabilities and net assetsStart of year $37,890,083$36,820,361
Part XI · Reconciliation of net assets $29,483,674 net assets at year end
XI-1 Total revenue$51,451,662
XI-2 Total expenses$49,717,629
XI-3 Revenue less expenses$1,734,033
XI-4 Net assets at start of year$29,035,740
XI-5 Net unrealized gains (losses) on investments−$1,286,099
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$29,483,674

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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