PRESIDENT & TRUSTEES OF COLBY COLLEGE

EIN: 010211497 501(c)(3) Education

Waterville, ME

Total Revenue
$287,466,000
Total Expenses
$284,605,000
Total Assets
$2,244,685,000
Net Assets
$1,833,349,000
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1821
Legal Domicile
ME
Principal Officer
David A Greene
Phone
2078594774
Tax Period
2022-07-01 to 2023-06-30

PRESIDENT & TRUSTEES OF COLBY COLLEGE, founded in 1821, is a major nonprofit in the Education sector that reported $287.5M in total revenue in fiscal year 2022. Revenue fell 29% from the prior year — a significant decline worth monitoring. Net assets of $1.8B represent 77 months of operating reserves.

Mission

Education

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $37,619,000
Program Service Revenue $186,429,000
Investment Income $63,347,000
Other Revenue $71,000
TOTAL REVENUE $287,466,000

Expense Breakdown

Grants Paid $58,198,926
Salaries & Benefits $104,402,021
Fundraising Expenses $9,946,151
Program Expenses $223,481,716
Other Expenses $122,004,053
TOTAL EXPENSES $284,605,000

Year-over-Year Comparison

2022 2021 Change
Revenue $287,466,000 $403,263,000 -0.3%
Expenses $284,605,000 $260,146,000 +0.1%
Net Income $2,861,000 $143,117,000 -1.0%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
34
Independent Members
32
Employees
2915
Volunteers
2000

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
14
$6,014,195
Total Directors
49
$2,628,343
Key Employees
1
$772,815
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Greene David A President 40
Officer Director
$2,255,900 $367,343 $2,623,243
Shufrin Deborah Associate VP and Chief Investment Officer 40
Key Emp
$761,250 $11,565 $772,815
Burrell-McRae Karlene A Dean of the College 40
Officer
$436,190 $74,743 $510,933
McFadden Margaret T Provost and Dean of Faculty 40
Officer
$368,400 $55,679 $424,079
Uchida Richard Y Vice President, General Counsel and Secretary of the College 40
Officer
$367,375 $54,023 $421,398
Proto Matthew T VP and Chief Institutional Advancement Officer 40
Officer
$357,520 $55,283 $412,803
Terp Douglas C Vice President for Administration and CFO 40
Officer
$335,980 $55,947 $391,927
Stent Amanda Director Davis Institute for AI 40
Highest
$336,000 $11,423 $347,423
Clark Brian J Vice President of Planning 40
Officer
$262,660 $51,049 $313,709
Terrassa Jacqueline Director, Museum of Art 40
Highest
$286,015 $14,925 $300,940
Jackson Ruth J Vice President and Chief of Staff 40
Officer
$247,500 $46,291 $293,791
Moore Barbara Dean of Students 40
Highest
$215,510 $48,026 $263,536
King D Whitney Professor 40
Highest
$213,975 $44,083 $258,058
Wisecup Michael D Vice President and Director of Athletics 40
Officer
$234,620 $21,692 $256,312
Hurney Carol Assoc Provost for Teaching & Learning 40
Highest
$210,800 $35,177 $245,977
Trufant Nicole Vice President for Administration and Chief Financial Officer 40
Officer
$228,300 $1,634 $229,934
Phillips Jane B Former VP for College and Student Advancement 40
$125,000 $24,776 $149,776
Wood Julie Vice President and Chief Human Resources Officer 40
Officer
$129,023 $7,043 $136,066
Epstein David Trustee, Part-time instructor 5
Director
$5,100 $0 $5,100
Powers Jane M Chair of the Board 5
Officer Director
$0 $0 $0
Boland Susan E Vice Chair of the Board 5
Officer Director
$0 $0 $0
O'Neill III John J Vice Chair of the Board 5
Officer Director
$0 $0 $0
Alfond William Trustee 5
Director
$0 $0 $0
Allen Brenda Trustee 5
Director
$0 $0 $0
Bengochea Armando Trustee 5
Director
$0 $0 $0
Boulos Joseph F Trustee 5
Director
$0 $0 $0
Brockelman Theresa Trustee 5
Director
$0 $0 $0
Bram Susan Trustee 5
Director
$0 $0 $0
Brunet Christian M Trustee 5
Director
$0 $0 $0
Buck Alexander K Trustee 5
Director
$0 $0 $0
Burns Sara J Trustee 5
Director
$0 $0 $0
Cotter William R Trustee 5
Director
$0 $0 $0
Crawford James B Trustee 5
Director
$0 $0 $0
Crook Jr James H Trustee 5
Director
$0 $0 $0
Dailey Coy R Trustee 5
Director
$0 $0 $0
Decosta Eric Trustee 5
Director
$0 $0 $0
Diamond Robert E Trustee 5
Director
$0 $0 $0
Dinneen Jacklyn D Trustee 5
Director
$0 $0 $0
Donahue Nancy Trustee 5
Director
$0 $0 $0
Eustis Sarah E Trustee 5
Director
$0 $0 $0
Forese James A Trustee 5
Director
$0 $0 $0
Gokgol-Kline Michael Trustee 5
Director
$0 $0 $0
Gordon Michael L Trustee 5
Director
$0 $0 $0
Haynes Tionna C Trustee 5
Director
$0 $0 $0
Hoopes Jr Robert R Trustee 5
Director
$0 $0 $0
Koester Michael E Trustee 5
Director
$0 $0 $0
Lanier Lindsay Trustee 5
Director
$0 $0 $0
Lawry Seth W Trustee 5
Director
$0 $0 $0
Leff Miguel Trustee 5
Director
$0 $0 $0
Lunder Paula Crane Trustee 5.00
Director
$0 $0 $0
Lyons John F Trustee 5.00
Director
$0 $0 $0
McVey Richard M Trustee 5.00
Director
$0 $0 $0
O'Donnell Timothy Trustee 5.00
Director
$0 $0 $0
Packman Jeffrey N Trustee 5.00
Director
$0 $0 $0
Pulver David Trustee 5.00
Director
$0 $0 $0
Rosengren Eric Trustee 5
Director
$0 $0 $0
Rothschild Marieke Trustee 5.00
Director
$0 $0 $0
Smith Carl L Trustee 5.00
Director
$0 $0 $0
Stanton Jessica D'Ercole Trustee 5.00
Director
$0 $0 $0
Tharakan Joerose Trustee 5
Director
$0 $0 $0
Tinsley Catherine Trustee 5
Director
$0 $0 $0
Walter Amy Trustee 5.00
Director
$0 $0 $0
Ward Laura P Trustee 5.00
Director
$0 $0 $0
Werlin Jason Trustee 5
Director
$0 $0 $0
Williams Tanya E Trustee 5.00
Director
$0 $0 $0
Woodfork Joshua C Trustee 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $287,466,000 $284,605,000 $2,244,685,000 $2,861,000
2022 $403,263,000 $260,146,000 $2,249,032,000 $143,117,000
2021 $290,124,000 $230,448,000 $2,242,751,000 $59,676,000
2020 $292,366,000 $212,296,000 $1,856,024,000 $80,070,000
2019 $285,005,000 $210,884,000 $1,822,747,000 $74,121,000
2018 $401,780,000 $200,996,000 $1,697,505,000 $200,784,000
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