BABSON COLLEGE

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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

1919

Legal Domicile

Principal Officer

STEPHEN SPINELLI

Phone

7812395298

Tax Period

2023-07-01 to 2024-06-30

BABSON COLLEGE, founded in 1919, is a major nonprofit in the Education sector that reported $358.8M in total revenue in fiscal year 2023. Expenses of $324.3M left a modest 10% surplus.

Mission

BABSON COLLEGE EDUCATES ENTREPRENEURIAL LEADERS WHO IMPACT COMMUNITIES EVERYWHERE.

Program Service Accomplishments

Program 1

Expenses: $276,679,073 Revenue: $272,194,490

BABSON COLLEGE ENROLLS APPROXIMATELY 2,800 UNDERGRADUATE AND NEARLY 1,200 GRADUATE STUDENTS FROM THE UNITED STATES AND MORE THAN 80 COUNTRIES WORLDWIDE. THE COLLEGE OFFERS EDUCATION IN BUSINESS AND LIBERAL ARTS, AND IT GRANTS THE BACHELOR OF SCIENCE DEGREE THROUGH ITS UNDERGRADUATE PROGRAM. THE COLLEGE ALSO GRANTS MASTER OF BUSINESS ADMINISTRATION DEGREES AND CUSTOM MASTER OF SCIENCE DEGREES THROUGH THE F.W. OLIN GRADUATE SCHOOL OF BUSINESS AT BABSON COLLEGE. ADDITIONALLY, BABSON OFFERS DISTINCT EXECUTIVE EDUCATION PROGRAMS TO HELP COMPANIES REACH THEIR STRATEGIC GOALS.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $54,837,938

Program Service Revenue $272,301,619

Investment Income $28,340,746

Other Revenue $3,299,137

TOTAL REVENUE $358,779,440

Expense Breakdown

Grants Paid $63,420,928

Salaries & Benefits $154,221,571

Fundraising Expenses $13,073,703

Program Expenses $276,679,073

Other Expenses $106,659,155

TOTAL EXPENSES $324,301,654

Year-over-Year Comparison

	2023	2022	Change
Revenue	$358,779,440	$344,014,371	+0.0%
Expenses	$324,301,654	$305,464,086	+0.1%
Net Income	$34,477,786	$38,550,285	-0.1%

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

Governance

Voting Members

Independent Members

Employees

2318

Volunteers

2105

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

$2,284,110

Total Directors

$898,681

Key Employees

$991,503

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN SPINELLI	PRESIDENT	50.00	Officer Director	$780,591	$118,090	$898,681
HARSHA AGADI	TRUSTEE	1.20	Director	$0	$0	$0
CHRISTINE ANGELAKIS	TRUSTEE (UNTIL 10/16/23)	1.20	Director	$0	$0	$0
THE HONORABLE CRAIG BENSON	VICE CHAIR, BOARD OF TRUSTEES	1.20	Officer Director	$0	$0	$0
ETTORE V BIAGIONI	TRUSTEE	1.20	Director	$0	$0	$0
PHILIP H BOUTON	TRUSTEE	1.20	Director	$0	$0	$0
MARTHA BUCKLEY	TRUSTEE	1.20	Director	$0	$0	$0
ANDREW J BUTLER	TRUSTEE	1.20	Director	$0	$0	$0
STEVE CANNON	TRUSTEE (UNTIL 9/28/23)	1.20	Director	$0	$0	$0
CYRIL C CAMUS	TRUSTEE	1.20	Director	$0	$0	$0
ANTHONY CHIASSON	TRUSTEE	1.20	Director	$0	$0	$0
WARREN CROSS JR	VICE CHAIR, TRUSTEE (UNTIL OCT. 23)	1.20	Officer Director	$0	$0	$0
RICHELIEU DENNIS JR	TRUSTEE	1.20	Director	$0	$0	$0
DEBORAH DE SANTIS	VICE CHAIR, BOARD OF TRUSTEES	1.20	Officer Director	$0	$0	$0
BRETT A GORDON	TRUSTEE	1.20	Director	$0	$0	$0
BRUCE HERRING	TRUSTEE	1.20	Director	$0	$0	$0
RYUSUKE HONJO	TRUSTEE	1.20	Director	$0	$0	$0
ERIC JOHNSON	VICE CHAIR, BOARD OF TRUSTEES	1.20	Officer Director	$0	$0	$0
JOHN JOHNSON	TRUSTEE	1.20	Director	$0	$0	$0
FRED SC KIANG	TRUSTEE	1.20	Director	$0	$0	$0
MICHAEL S LORBER	TRUSTEE	1.20	Director	$0	$0	$0
WASI MAHI	TRUSTEE (UNTIL 10/20/23)	1.20	Director	$0	$0	$0
JEFFREY MCLANE	TREASURER	1.20	Officer Director	$0	$0	$0
AUDREY MCLOUGHLIN	TRUSTEE	1.20	Director	$0	$0	$0
CHRISTOPHER MALONE	TRUSTEE	1.20	Director	$0	$0	$0
RAMON MENDIOLA	TRUSTEE	1.20	Director	$0	$0	$0
COREY N O'NEILL	TRUSTEE	1.20	Director	$0	$0	$0
JEFFERY PERRY	CHAIR, BOARD OF TRUSTEES	1.20	Officer Director	$0	$0	$0
KENNETH G ROMANZI	TRUSTEE	1.20	Director	$0	$0	$0
JAMES A RULLO	TRUSTEE	1.20	Director	$0	$0	$0
SOMIA FARID SILBER	TRUSTEE	1.20	Director	$0	$0	$0
AMANDA STRONG	TRUSTEE	1.20	Director	$0	$0	$0
DAVIDE VISCO	TRUSTEE	1.20	Director	$0	$0	$0
RACHEL ZELCER	TRUSTEE (UNTIL 10/20/23)	1.20	Director	$0	$0	$0
KATHERINE CRAVEN	CHIEF ADMIN./FINANCIAL OFFICER	40.00	Officer	$479,277	$43,954	$523,231
KENICHI MATSUNO	VP ACADEMIC AFFAIRS & DEAN	40.00	Officer	$414,772	$43,859	$458,631
MICHAEL LAYISH	SECRETARY & CLERK	40.00	Officer	$314,797	$88,770	$403,567
EDWARD CHIU	SR. VP OF ADVANCEMENT	40.00	Key Emp	$903,647	$87,856	$991,503
RICHARD BLISS	PROFESSOR	40.00	Highest	$508,398	$50,435	$558,833
JAY RAO	PROFESSOR	40.00	Highest	$483,409	$74,103	$557,512
BEN CHEVRETTE	VICE PRESIDENT, DEVELOPMENT	40.00	Highest	$470,206	$77,002	$547,208
D R WIDDER	VP OF INNOVATION	40.00	Highest	$449,627	$81,803	$531,430
PHILLIP KIM	PROFESSOR	40.00	Highest	$433,196	$79,214	$512,410

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	$358,779,440	$324,301,654	$1,197,853,331	$34,477,786
2023	$344,014,371	$305,464,086	$1,116,080,345	$38,550,285
2022	$397,619,450	$280,964,776	$1,081,136,455	$116,654,674
2021	$304,101,925	$252,934,350	$1,084,295,364	$51,167,575
2020	$294,185,810	$259,126,797	$863,238,815	$35,059,013
2019	$280,741,520	$265,842,275	$817,307,765	$14,899,245
2018	$286,482,823	$251,450,725	$779,723,786	$35,032,098