BABSON COLLEGE

EIN: 042103544 501(c)(3) Education

BABSON PARK, MA

Total Revenue
$358,779,440
Total Expenses
$324,301,654
Total Assets
$1,197,853,331
Net Assets
$942,443,634
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1919
Legal Domicile
MA
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 CREATE GREAT ECONOMIC AND SOCIAL VALUE EVERYWHERE. BABSON COLLEGE IS A GLOBAL LEADER IN MANAGEMENT EDUCATION WITH APPROXIMATELY 2,800 UNDERGRADUATE AND NEARLY 1,200 GRADUATE ENROLLMENT. OUR INNOVATIVE CURRICULA CHALLENGE STUDENTS TO THINK CREATIVELY AND ACROSS DISCIPLINARY BOUNDARIES. WE CULTIVATE THE WILLINGNESS TO TAKE AND MANAGE RISK, THE ABILITY TO ENERGIZE OTHERS TOWARD A GOAL, AND THE COURAGE TO ACT RESPONSIBLY. OUR STUDENTS UNDERSTAND THAT LEADERSHIP REQUIRES BOTH TECHNICAL KNOWLEDGE AND A SOPHISTICATED APPRECIATION OF INSTITUTIONS, SOCIETIES, CULTURES, AND THE SELF. THEY WELCOME THE CHALLENGE OF LEARNING CONTINUOUSLY AND TAKING RESPONSIBILITY FOR THEIR CAREERS. OUR STUDENTS WILL BE KEY CONTRIBUTORS IN ESTABLISHED ENTERPRISES AS WELL AS EMERGING VENTURES.

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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 (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 Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
29
Independent Members
28
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
10
$2,284,110
Total Directors
34
$898,681
Key Employees
1
$991,503
Highest Compensated
5
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
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