Mount Allison University: Nonprofit Profile, Financials & Form 990 (EIN 98-0033473)

Revenue by fiscal year
FY2021	$71.2M
FY2022	$66.1M
FY2023	$87.5M
FY2024	$79.0M
FY2025	$68.9M

Expenses by fiscal year
FY2021	$55.9M
FY2022	$62.9M
FY2023	$63.7M
FY2024	$64.5M
FY2025	$66.6M

Net assets by fiscal year
FY2021	$231.0M
FY2022	$224.8M
FY2023	$217.0M
FY2024	$225.9M
FY2025	$234.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1979.

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

Where the money goes

88 cents of each dollar spent went to programs.

88%

Program services 88% · $58.6M Management & general 9% · $5.8M Fundraising 3% · $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

13 people listed on the 990; $1.5M 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

Sutherland Ian

President and Vice-Chancellor

$196,083Pt VII · Sec A

Inglis Robert

VP of Finance and Admin

$151,280Pt VII · Sec A

Pringle-Carver

VP, University Advancement

$140,242Pt VII · Sec A

Rogosin David

Associate Professor

$130,287Pt VII · Sec A

White Brent

Associate Professor

$127,542Pt VII · Sec A

Polegato Rosemary

Professor

$127,094Pt VII · Sec A

Ricker Laurie

Professor

$127,094Pt VII · Sec A

Wilson Andrew

Regent and Full-Time Faculty

$118,941Pt VII · Sec A

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

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Boudreau Jean-Paul	—	—	—	$235,174	$200,404
Hennessy Jeff	—	$36,375	$211,819	$149,940	$133,220
Sutherland Ian	$196,083	—	—	—	—
Mackinnon Robert	$36,200	$181,875	—	—	—
Inglis Robert	$151,280	$143,720	$136,793	$140,896	$133,085
Ollerhead Jeff	—	—	—	—	$143,818
Pringle-Carver	$140,242	$134,626	$135,430	$139,909	—
Jollymore Gloria	—	—	—	—	$139,510

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

Offers rigorous liberal education and financial aid to undergraduate students.

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Provided by the organization

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3 programs · $58.6M · in their own filed words · FY2024

01

Student Fees.

$49.9Mprogram expense

02

Ancillary Student Fees.

$8.0Mprogram expense

03

Commissions, Rebates, book sales, retail sales, sales of goods/surplus of furniture and equipment, event tickets, conference revenue, IT support/consultation.

$757Kprogram 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

Theodore R & Vivian M Johnson Scholarship Foundation INCFY2024$15K

Total grants receivedfrom 1 funder$15K

Grants paid · 1 grant · $23K · 2024–2024

Unitemized GrantFY2024$23,349

By the numbers

The FY2025 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$68.9M

Ln 12

Fees for servicesLn 2g$33.5M

Gifts and grantsLn 1h$28.3M

Investment incomeLn 3$9.0M

Money outPt IX

$66.6M

Ln 25

Programscol B$58.6M

Managementcol C$5.8M

Fundraisingcol D$2.2M

Owns and owesPt X

$234.2M

net assets · Ln 32

Cash and savingsLn 1–2$7.2M

Total assetsLn 16$342.1M

LiabilitiesLn 26$107.8M

PeoplePt VI, VII

13

listed · VII A

PaidVII A13

Voting boardVI 1a28

IndependentVI 1b28

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$28.3M

Government grantsLn 1e$22.6M

Noncash giftsLn 1g$645K

Fees for servicesLn 2g$33.5M

Investment incomeLn 3$9.0M

Gains on assetsLn 7$2.2M

Total revenueLn 12$68.9M

Assets in detailPt X, end of year

CashLn 1$6.5M

SavingsLn 2$699K

Cash and savings togetherLn 1–2$7.2M

InvestmentsLn 11–13$203.0M

Land, buildings, equipmentLn 10c$120.3M

Other assetsLn 15$8.3M

Total assetsLn 16$342.1M

LiabilitiesLn 26$107.8M

Net assetsLn 32$234.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderApril

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$6.1M	$7.2M
InvestmentsLn 11–13	$194.3M	$203.0M
Land, buildings, equipmentLn 10c	$114.0M	$120.3M
Total assetsLn 16	$325.8M	$342.1M
LiabilitiesLn 26	$99.9M	$107.8M
Net assetsLn 32	$225.9M	$234.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$0
Grants to domestic individualsLn 2	$23K	$23K
Grants and assistance to foreign recipientsLn 3	$4.2M	$4.2M
Benefits paid to or for membersLn 4	$985K	$985K
Pay of current officers, directors and key staffLn 5	$872K		$872K
Pay of disqualified personsLn 6	$0
Other salaries and wagesLn 7	$33.5M	$29.6M	$2.7M	$1.2M
Pension plan contributionsLn 8	$1.5M	$1.3M	$154K	$51K
Other employee benefitsLn 9	$659K	$567K	$69K	$23K
Payroll taxesLn 10	$1.8M	$1.5M	$189K	$62K
Management feesLn 11a	$599K	$599K
Legal feesLn 11b	$211K		$211K
Accounting feesLn 11c	$74K	$24K	$50K
Lobbying feesLn 11d	$0
Professional fundraising feesLn 11e	$0
Investment management feesLn 11f	$188K	$124K	$64K
Other fees for servicesLn 11g	$86K	$86K
Advertising and promotionLn 12	$468K	$60K	$59K	$350K
Office expensesLn 13	$8.8M	$7.6M	$787K	$391K
Information technologyLn 14	$1.1M	$994K	$57K	$13K
RoyaltiesLn 15	$0
OccupancyLn 16	$4.3M	$4.3M		$774
TravelLn 17	$1.8M	$1.3M	$357K	$98K
Travel and entertainment for public officialsLn 18	$0
Conferences, conventions and meetingsLn 19	$8K	$5K	$3K
InterestLn 20	$271K	$269K	$2K
Payments to affiliatesLn 21	$0
Depreciation, depletion and amortizationLn 22	$4.7M	$4.7M
InsuranceLn 23	$370K	$370K
Other expenses (24a–d)Ln 24	$225K		$225K
Total functional expensesLn 25	$66.6M	$58.6M	$5.8M	$2.2M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$68.9M	$66.6M	$2.3M	$234.2M	990 PDF
FY2024	$79.0M	$64.5M	$14.5M	$225.9M	990 PDF
FY2023	$87.5M	$63.7M	$23.8M	$217.0M	990 PDF
FY2022	$66.1M	$62.9M	$3.2M	$224.8M	990 PDF
FY2021	$71.2M	$55.9M	$15.3M	$231.0M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $68,850,017 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $35,800,443$28,272,038

I-9 Program service revenuePrior year $32,248,431$33,495,728

I-10 Investment incomePrior year $10,363,917$8,972,627

I-11 Other revenuePrior year $583,830−$1,890,376

I-12 Total revenuePrior year $78,996,621$68,850,017

I-13 Grants and similar amounts paidPrior year $4,333,467$4,204,883

I-14 Benefits paid to membersPrior year $1,011,909$985,359

I-15 Salaries and benefitsPrior year $37,057,447$38,315,616

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $22,118,604$23,092,681

I-18 Total expensesPrior year $64,521,427$66,598,539

I-19 Revenue less expensesPrior year $14,475,194$2,251,478

Part VI · Governance 28 of 28 board members independent, 1 to look at

VI-1a Voting members of the governing body28

VI-1b Independent voting members28

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $68,850,017 across 12 lines filed

Lines not itemized here account for $245,098 of total revenue; see the IRS return.

VIII-1e Government grants$22,571,727

VIII-1f All other contributions, gifts and grants$5,700,311

VIII-1g Noncash contributions (included above)$644,863

VIII-1h Total contributions, gifts and grants$28,272,038

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,495,728$33,495,728

VIII-3 Investment incomeExcluded from tax $6,795,156$6,795,156

VIII-5 Royalties$0

VIII-6 Net rental income or loss$0

VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,807,640$2,177,471

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)−$2,135,474

VIII-12 Total revenueRelated to mission $33,495,728 · Excluded from tax $11,847,894$68,850,017

Part IX · Statement of functional expenses $66,598,539 across 30 lines filed

IX-1 Grants to domestic organizations$0

IX-2 Grants to domestic individualsPrograms $23,349$23,349

IX-3 Grants and assistance to foreign recipientsPrograms $4,181,534$4,181,534

IX-4 Benefits paid to or for membersPrograms $985,359$985,359

IX-5 Pay of current officers, directors and key staffManagement $872,293$872,293

IX-6 Pay of disqualified persons$0

IX-7 Other salaries and wagesPrograms $29,594,393 · Management $2,734,820 · Fundraising $1,187,854$33,517,067

IX-8 Pension plan contributionsPrograms $1,263,197 · Management $153,965 · Fundraising $50,702$1,467,864

IX-9 Other employee benefitsPrograms $566,741 · Management $69,077 · Fundraising $22,748$658,566

IX-10 Payroll taxesPrograms $1,548,873 · Management $188,784 · Fundraising $62,168$1,799,826

IX-11a Management feesPrograms $599,495$599,495

IX-11b Legal feesManagement $210,607$210,607

IX-11c Accounting feesPrograms $23,999 · Management $49,594$73,594

IX-11d Lobbying fees$0

IX-11e Professional fundraising fees$0

IX-11f Investment management feesPrograms $124,278 · Management $63,625$187,903

IX-11g Other fees for servicesPrograms $86,148$86,148

IX-12 Advertising and promotionPrograms $59,708 · Management $58,519 · Fundraising $349,817$468,045

IX-13 Office expensesPrograms $7,606,915 · Management $786,920 · Fundraising $391,126$8,784,961

IX-14 Information technologyPrograms $993,646 · Management $56,878 · Fundraising $13,442$1,063,966

IX-15 Royalties$0

IX-16 OccupancyPrograms $4,309,630 · Fundraising $774$4,310,404

IX-17 TravelPrograms $1,299,097 · Management $356,718 · Fundraising $97,574$1,753,389

IX-18 Travel and entertainment for public officials$0

IX-19 Conferences, conventions and meetingsPrograms $5,252 · Management $3,084$8,336

IX-20 InterestPrograms $268,638 · Management $1,868$270,506

IX-21 Payments to affiliates$0

IX-22 Depreciation, depletion and amortizationPrograms $4,680,249$4,680,249

IX-23 InsurancePrograms $370,367$370,367

IX-24 Other expenses (24a–d)Management $224,711$224,711

IX-25 Total functional expensesPrograms $58,590,868 · Management $5,831,463 · Fundraising $2,176,205$66,598,539

Part X · Balance sheet $342,054,155 assets, 22 lines filed

X-1 Cash, non-interest-bearingStart of year $47,345$6,475,441

X-2 Savings and temporary cash investmentsStart of year $6,037,548$699,057

X-3 Pledges and grants receivableStart of year $910,766$739,536

X-4 Accounts receivableStart of year $1,994,051$1,267,972

X-8 Inventories for sale or useStart of year $368,837$351,976

X-9 Prepaid expenses and deferred chargesStart of year $1,165,423$996,905

X-10c Land, buildings and equipment, netStart of year $113,976,845$120,257,874

X-11 Publicly traded securitiesStart of year $194,278,475$203,006,798

X-12 Other securitiesStart of year $0$0

X-13 Program-related investmentsStart of year $0$0

X-14 Intangible assetsStart of year $0$0

X-15 Other assetsStart of year $6,999,303$8,258,596

X-16 Total assetsStart of year $325,778,593$342,054,155

X-17 Accounts payable and accrued expensesStart of year $7,276,803$7,867,699

X-18 Grants payableStart of year $0$0

X-19 Deferred revenueStart of year $1,816,445$1,543,821

X-20 Tax-exempt bond liabilitiesStart of year $0$0

X-24 Unsecured notes and loans payableStart of year $0$0

X-25 Other liabilitiesStart of year $90,779,857$98,404,430

X-26 Total liabilitiesStart of year $99,873,105$107,815,950

X-32 Total net assets or fund balancesStart of year $225,905,488$234,238,205

X-33 Total liabilities and net assetsStart of year $325,778,593$342,054,155

Part XI · Reconciliation of net assets $234,238,205 net assets at year end

XI-1 Total revenue$68,850,017

XI-2 Total expenses$66,598,539

XI-3 Revenue less expenses$2,251,478

XI-4 Net assets at start of year$225,905,488

XI-5 Net unrealized gains (losses) on investments$2,652,355

XI-9 Other changes in net assets$3,428,884

XI-10 Net assets at end of year$234,238,205

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

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