THE TRUSTEES OF THE SMITH COLLEGE

EIN: 041843040 501(c)(3) Education

NORTHAMPTON, MA

Total Revenue
$587,487,822
Total Expenses
$385,649,483
Total Assets
$3,615,699,490
Net Assets
$2,983,255,903
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Financial Trends

Organization Details

Formation Year
1871
Legal Domicile
MA
Principal Officer
KATHLEEN MCCARTNEY
Phone
4135852200
Tax Period
2022-07-01 to 2023-06-30

THE TRUSTEES OF THE SMITH COLLEGE, founded in 1871, is a major nonprofit in the Education sector that reported $587.5M in total revenue in fiscal year 2022. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $201.8M, a strong 34% operating margin.

Mission

COMPENSATION HOUSING: THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS IN THE PRESIDENT'S HOUSE AS A CONDITION OF EMPLOYMENT AND, THEREFORE, THE HOUSING ALLOWANCE IS NOT TAXABLE. THE AMOUNT IS INCLUDED IN COLUMN D OF SCHEDULE J, PART II. ONE HIGHEST COMPENSATED EMPLOYEE RECEIVES A TAXABLE RENT SUBSIDY. THE AMOUNT IS INCLUDED IN COLUMN B(III) OF SCHEDULE J, PART II. GROSS-UP PAYMENTS: IN CALENDAR YEAR 2022, THE COLLEGE AWARDED CERTAIN EMPLOYEES BONUSES THAT WERE GROSSED UP. SIX KEY EMPLOYEES, ONE FORMER KEY EMPLOYEE, FIVE OFFICERS, ONE FORMER OFFICER AND FIVE HIGHEST COMPENSATED EMPLOYEES RECEIVED A $500 BONUS AND CORRESPONDING TAX GROSS-UP. THE GROSS-UP AMOUNTS ARE INCLUDED IN COLUMN B(III) OF SCHEDULE J, PART II. SOCIAL CLUB MEMBERSHIP FEE: THE PRESIDENT'S MEMBERSHIP FEE TO THE YALE CLUB OF NEW YORK IS COVERED FOR THE PURPOSES OF CONDUCTING COLLEGE-RELATED BUSINESS, AND THEREFORE, IS NOT TAXABLE. PERSONAL SERVICES: A COLLEGE EMPLOYEE PREPARES MEALS AT THE PRESIDENT'S HOUSE FOR THE CONVENIENCE OF THE COLLEGE. A COLLEGE EMPLOYEE FROM THE FACILITIES MAINTENANCE DEPARTMENT MAINTAINS THE PRESIDENT'S HOUSE SIMILARLY TO OTHER CAMPUS FACILITIES. ANY HOUSEKEEPING OF THE PRESIDENT'S PERSONAL QUARTERS IS INCIDENTAL TO THE CLEANING OF THE PUBLIC AREAS OF THE RESIDENCE. THIS HOUSEKEEPING IS CONSIDERED TO BE OF NO ADDITIONAL COST TO THE INSTITUTION. THESE ARE NOT CONSIDERED BENEFITS TO THE PRESIDENT.

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $67,936,846
Program Service Revenue $216,879,596
Investment Income $293,848,173
Other Revenue $8,823,207
TOTAL REVENUE $587,487,822

Expense Breakdown

Grants Paid $102,401,956
Salaries & Benefits $160,574,108
Fundraising Expenses $6,281,465
Program Expenses $314,569,837
Other Expenses $122,673,419
TOTAL EXPENSES $385,649,483

Year-over-Year Comparison

2022 2021 Change
Revenue $587,487,822 $711,163,748 -0.2%
Expenses $385,649,483 $369,492,658 +0.0%
Net Income $201,838,339 $341,671,090 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
31
Independent Members
30
Employees
4306
Volunteers
6000

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
7
$4,295,684
Total Directors
31
$1,467,176
Key Employees
7
$2,335,617
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA MARIE HOWIE CHIEF INVESTMENT OFFICER 40.0
Officer
$1,501,647 $46,615 $1,548,262
KATHLEEN MCCARTNEY PRESIDENT 40.0
Officer Director
$720,740 $746,436 $1,467,176
BETH B RAFFELD VP FOR DEVELOPMENT 40.0
Key Emp
$489,307 $38,988 $528,295
DAVID C DESWERT EVP FINANCE AND ADMINISTRATION 40.0
Officer
$398,331 $46,558 $444,889
MICHAEL T THURSTON PROVOST & DEAN OF THE FACULTY 40.0
Officer
$289,110 $55,979 $345,089
LAURIE FENLASON VP FOR PUBLIC AFFAIRS 40.0
Key Emp
$298,346 $45,493 $343,839
SAMANTHA S EARP VP FOR IT 40.0
Key Emp
$286,100 $56,984 $343,084
CAROLINE THOMAS DIRECTOR OF INVESTMENTS 40.0
Highest
$326,224 $10,221 $336,445
JAMES GRAY AVP FACILITIES & OPERATIONS 40.0
Key Emp
$290,753 $44,369 $335,122
JULIA YAGER VP OF COLLEGE RELATIONS & COMM 40.0
Highest
$285,229 $48,138 $333,367
MARIANNE RM YOSHIOKA DEAN OF SSW 40.0
Highest
$279,445 $42,312 $321,757
BRIAN J DWYER DIRECTOR OPERATIONS INVESTMENT 40.0
Highest
$291,354 $21,852 $313,206
JOANNA MAY VP ENROLLMENT 40.0
Key Emp
$270,474 $41,980 $312,454
ANNE-MARIE SZMYT AVP FOR HR 40.0
Highest
$251,713 $52,568 $304,281
BAISHAKHI TAYLOR DEAN OF COLLEGE/VP CAMPUS LIFE 40.0
Key Emp
$226,041 $33,947 $259,988
ALEXANDRA L M KELLER INTERIM DEAN/VP CAMPUS LIFE 40.0
Key Emp
$172,185 $40,650 $212,835
MATTHEW MOTYKA ASSOC TREASURER & CONTROLLER 40.0
Officer
$142,011 $30,884 $172,895
ELENA J PALLADINO SECRETARY 40.0
Officer
$131,218 $36,280 $167,498
JILLIAN MCGRATH CONTROLLER 40.0
Officer
$143,230 $6,645 $149,875
ANU AIYENGAR TRUSTEE 5.0
Director
$0 $0 $0
ANDREA AUERBACH TRUSTEE 5.0
Director
$0 $0 $0
JOHAN AURIK TRUSTEE 5.0
Director
$0 $0 $0
LISA BLACK TRUSTEE 5.0
Director
$0 $0 $0
JANELLE BRADSHAW TRUSTEE 5.0
Director
$0 $0 $0
MOLLY BURKE TRUSTEE 5.0
Director
$0 $0 $0
FARAH CHAMPSI TRUSTEE 5.0
Director
$0 $0 $0
MATTIE PETERSON COMPTON TRUSTEE, VICE CHAIR 5.0
Director
$0 $0 $0
DENISE WHALEN CONWAY TRUSTEE 5.0
Director
$0 $0 $0
PAMELA CRAIG TRUSTEE 5.0
Director
$0 $0 $0
DEBORAH DECOTIS TRUSTEE 5.0
Director
$0 $0 $0
LILE GIBBONS TRUSTEE 5.0
Director
$0 $0 $0
ALICIA HAMMARSKJOLD TRUSTEE 5.0
Director
$0 $0 $0
TERRY HARTLE TRUSTEE 5.0
Director
$0 $0 $0
PEGGIE KOON TRUSTEE 5.0
Director
$0 $0 $0
PEGGY LIU TRUSTEE 5.0
Director
$0 $0 $0
CYNTHIA MEYN TRUSTEE 5.0
Director
$0 $0 $0
SUSAN MAY MOLINEAUX TRUSTEE, VICE CHAIR 5.0
Director
$0 $0 $0
BEVERLY MORGAN-WELCH TRUSTEE 5.0
Director
$0 $0 $0
MOHSEN MOSTAFAVI TRUSTEE 5.0
Director
$0 $0 $0
ALISON OVERSETH TRUSTEE, CHAIR 5.0
Director
$0 $0 $0
DAVID OXTOBY TRUSTEE 5.0
Director
$0 $0 $0
LYNN REICHENBACH TRUSTEE 5.0
Director
$0 $0 $0
PATRICIA RIBAKOFF TRUSTEE 5.0
Director
$0 $0 $0
CLAUDIA SAN PEDRO TRUSTEE 5.0
Director
$0 $0 $0
KIMBERLY SCOTT TRUSTEE 5.0
Director
$0 $0 $0
ANN SILVERMAN TRUSTEE 5.0
Director
$0 $0 $0
SARAH STAPLETON TRUSTEE 5.0
Director
$0 $0 $0
EMILY VAN AGTMAEL TRUSTEE 5.0
Director
$0 $0 $0
DEBORAH WEINBERG TRUSTEE 5.0
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 $587,487,822 $385,649,483 $3,615,699,490 $201,838,339
2022 $711,163,748 $369,492,658 $3,540,762,539 $341,671,090
2021 $481,505,110 $292,369,130 $3,541,477,640 $189,135,980
2020 $394,570,320 $330,171,482 $2,711,572,123 $64,398,838
2019 $371,877,770 $326,787,282 $2,713,474,433 $45,090,488
2018 $405,729,447 $315,774,195 $2,647,449,522 $89,955,252
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