AMHERST COLLEGE TRUSTEES

EIN: 042103542 501(c)(3) Education

AMHERST, MA

Total Revenue
$379,275,079
Total Expenses
$401,185,430
Total Assets
$5,302,371,715
Net Assets
$4,528,714,088
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1821
Legal Domicile
MA
Principal Officer
MICHAEL A ELLIOTT
Phone
4135422101
Tax Period
2022-07-01 to 2023-06-30

AMHERST COLLEGE TRUSTEES, founded in 1821, is a major nonprofit in the Education sector that reported $379.3M in total revenue in fiscal year 2022. Revenue fell 37% from the prior year — a significant decline worth monitoring. Net assets of $4.5B represent 143 months of operating reserves.

Mission

THE PRESIDENT IS REQUIRED TO MAINTAIN A PERSONAL RESIDENCE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. CERTAIN PERSONAL SERVICES ARE PROVIDED TO MAINTAIN THIS RESIDENCE. OCCASIONAL PERSONAL SERVICES PROVIDED TO THE PRESIDENT ARE CONSIDERED PERSONAL EXPENSES AND ADDED TO THE PRESIDENT'S TAXABLE COMPENSATION INCLUDING THE VALUE OF THE RELATED TAX LIABILITY. IN ACCORDANCE WITH AMHERST'S TRAVEL POLICY, FIRST CLASS AIR TRAVEL IS PERMITTED FOR A BONA FIDE BUSINESS PURPOSE FOR THE PRESIDENT AND STAFF. IT IS THE COLLEGE'S POLICY TO GROSS UP CERTAIN PAYMENTS FOR TAX PURPOSES.

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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 $60,572,966
Program Service Revenue $155,553,603
Investment Income $161,133,221
Other Revenue $2,015,289
TOTAL REVENUE $379,275,079

Expense Breakdown

Grants Paid $78,628,929
Salaries & Benefits $160,765,898
Fundraising Expenses $10,801,378
Program Expenses $305,929,033
Other Expenses $161,790,603
TOTAL EXPENSES $401,185,430

Year-over-Year Comparison

2022 2021 Change
Revenue $379,275,079 $604,902,946 -0.4%
Expenses $401,185,430 $387,228,754 +0.0%
Net Income $-21,910,351 $217,674,192 -1.1%
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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Governance

Voting Members
25
Independent Members
23
Employees
3450
Volunteers
2490

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
$3,193,849
Total Directors
26
$1,210,424
Key Employees
8
$4,228,447
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THEODORE BENESKI TRUSTEE 5.00
Director
$0 $0 $0
ANDREW NUSSBAUM TRUSTEE 5.00
Director
$0 $0 $0
SIMON KRINSKY TRUSTEE 5.00
Director
$0 $0 $0
SHIRLEY TILGHMAN TRUSTEE 5.00
Director
$0 $0 $0
ARTHUR KOENIG TRUSTEE 5.00
Director
$0 $0 $0
SARAH BLOOM RASKIN TRUSTEE 5.00
Director
$0 $0 $0
CAROLYN MARTIN PRESIDENT (THRU 7/22) 40.00
Officer Director
$750,726 $55,414 $806,140
REJJI HAYES TRUSTEE 5.00
Director
$0 $0 $0
PHILLIP JACKSON TRUSTEE 5.00
Director
$0 $0 $0
PAUL SMITH TRUSTEE 5.00
Director
$0 $0 $0
NICOLAS ZERBIB TRUSTEE 5.00
Director
$0 $0 $0
ELIZABETH SHELBURNE TRUSTEE 5.00
Director
$0 $0 $0
CHANTAL KORDULA TRUSTEE 5.00
Director
$0 $0 $0
MICHAEL ELLIOTT PRESIDENT (AS OF 8/22) 40.00
Officer Director
$309,724 $94,560 $404,284
CHRISTINE NOYER SEAVER TRUSTEE 5.00
Director
$0 $0 $0
MATTHEW HULSIZER TRUSTEE 5.00
Director
$0 $0 $0
MARY ELIZABETH CISNEROS TRUSTEE 5.00
Director
$0 $0 $0
DAVID MACLENNAN TRUSTEE 5.00
Director
$0 $0 $0
DAVID NOVAK TRUSTEE 5.00
Director
$0 $0 $0
KIMBERLEE WYCHE-ETHERIDGE TRUSTEE 5.00
Director
$0 $0 $0
DOUGLAS GRISSOM TRUSTEE 5.00
Director
$0 $0 $0
JEFFERY BLEICH TRUSTEE 5.00
Director
$0 $0 $0
DWIGHT POLER TRUSTEE 5.00
Director
$0 $0 $0
EUNEI LEE TRUSTEE 5.00
Director
$0 $0 $0
NAANA FRIMPONG TRUSTEE 5.00
Director
$0 $0 $0
WILLIAM O'MALLEY TRUSTEE 5.00
Director
$0 $0 $0
STEPHEN NIGRO CONTROLLER 40.00
Officer
$166,343 $26,655 $192,998
MICHAEL WITMORE DIRECTOR OF FOLGER SHAKESPEAR LIB 40.00
Officer
$1,090,632 $63,019 $1,153,651
MICHAEL THOMAS CHIEF FIN/ADMIN OFF (AS OF 3/23) 40.00
Officer
$0 $0 $0
THOMAS DWYER INTERIM CFO (THRU 3/23) 40.00
Officer
$337,879 $64,811 $402,690
KATHLEEN PERTZBORN CHIEF OF STAFF 40.00
Officer
$193,633 $40,453 $234,086
RUTH TAYLOR-KIDD CHIEF FINANCIAL OFFICER - FOLGER 40.00
Key Emp
$240,824 $27,961 $268,785
MATTHEW MCGANN DEAN OF ADMISSION & FINANCIAL AID 40.00
Key Emp
$336,567 $36,333 $372,900
LIZ AGOSTO CHF STUD AFF/DEAN STUD (THRU 1/23) 40.00
Key Emp
$262,630 $39,351 $301,981
LETITIA JOHNSON CHIEF INVESTMENT OFFICER 40.00
Key Emp
$1,467,882 $37,284 $1,505,166
JAMES BRASSORD CHIEF OF CAMPUS OPS (THRU 3/23) 40.00
Key Emp
$282,942 $59,181 $342,123
LISA RUTHERFORD GEN COUNSEL & SR ADV TO PRES 40.00
Key Emp
$422,070 $79,490 $501,560
CATHERINE EPSTEIN PROVOST AND DEAN OF FACULT 40.00
Key Emp
$405,529 $79,929 $485,458
ELIZABETH CANNON-SMITH CHIEF ADVANCEMENT OFFICER 40.00
Key Emp
$388,466 $62,008 $450,474
ABBEY SILBERMAN FAGIN FOLGER CHIEF ADV OFF (THRU 9/22) 40.00
Highest
$339,576 $50,432 $390,008
SHANE LEVY INVESTMENT OFFICER 40.00
Highest
$345,685 $35,264 $380,949
SANDRA GENELIUS CHIEF COMMUNICATIONS OFFIC 40.00
Highest
$334,687 $61,659 $396,346
DAWN BATES DIRECTOR OF OPERATIONS-INVESTMENTS 40.00
Highest
$407,592 $28,107 $435,699
AUSTIN SARAT PROF OF POLI SCI AND LJST 40.00
Highest
$450,652 $50,023 $500,675
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 $379,275,079 $401,185,430 $5,302,371,715 $-21,910,351
2022 $604,902,946 $387,228,754 $5,256,232,111 $217,674,192
2021 $531,451,791 $359,863,522 $5,830,785,672 $171,588,269
2020 $407,702,412 $360,484,214 $4,260,760,426 $47,218,198
2019 $411,454,340 $338,253,116 $4,074,344,424 $73,201,224
2018 $413,791,121 $312,600,721 $3,963,621,671 $101,190,400
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