Williams College (EIN 042104847) - Form 990 Financial Analysis & Trantor Score

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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

1793

Legal Domicile

Phone

4135974412

Tax Period

2023-07-01 to 2024-06-30

Williams College, founded in 1793, is a major nonprofit in the Education sector that reported $447.9M in total revenue in fiscal year 2023. The organization ran a surplus of $81.8M, a strong 18% operating margin.

Mission

Williams College strives to achieve educational excellence by fostering a community of learning in collaboration with students, faculty, staff, devoted alumni and parents.

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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 $87,694,599

Program Service Revenue $176,518,559

Investment Income $184,172,321

Other Revenue $-492,911

TOTAL REVENUE $447,892,568

Expense Breakdown

Grants Paid $73,317,642

Salaries & Benefits $171,686,961

Fundraising Expenses $10,449,898

Program Expenses $325,018,349

Other Expenses $121,084,994

TOTAL EXPENSES $366,089,597

Year-over-Year Comparison

	2023	2022	Change
Revenue	$447,892,568	$424,095,865	+0.1%
Expenses	$366,089,597	$357,041,990	+0.0%
Net Income	$81,802,971	$67,053,875	+0.2%

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

3544

Volunteers

6770

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

$4,655,586

Total Directors

$891,763

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAUD MANDEL	PRESIDENT	40.0	Officer Director	$674,852	$216,911	$891,763
ELIZABETH ANDERSEN	TRUSTEE	4.0	Director	$0	$0	$0
ELIZABETH ROBINSON	TRUSTEE/CHAIR	6.0	Director	$0	$0	$0
ETHAN LASSER	TRUSTEE	4.0	Director	$0	$0	$0
GEORGE CREPPY	TRUSTEE	4.0	Director	$0	$0	$0
GREGORY WOODS	TRUSTEE	4.0	Director	$0	$0	$0
GRETCHEN HOWARD	TRUSTEE	4.0	Director	$0	$0	$0
JAN VAN ECK	TRUSTEE	4.0	Director	$0	$0	$0
JEFFREY DELANEY	TRUSTEE	4.0	Director	$0	$0	$0
JEFFREY HARLESTON	TRUSTEE	4.0	Director	$0	$0	$0
JEFFREY RHODES	TRUSTEE	4.0	Director	$0	$0	$0
JONATHAN SOKOLOFF	TRUSTEE	4.0	Director	$0	$0	$0
LEILA JERE	TRUSTEE	4.0	Director	$0	$0	$0
MARK TERCEK	TRUSTEE	4.0	Director	$0	$0	$0
MARTHA HOOPES	TRUSTEE	4.0	Director	$0	$0	$0
MARTHA WILLIAMSON	TRUSTEE	4.0	Director	$0	$0	$0
MATTHEW HARRIS	TRUSTEE	4.0	Director	$0	$0	$0
MICHELE JOHNSON ROGERS	TRUSTEE	4.0	Director	$0	$0	$0
NATHAN SLEEPER	TRUSTEE	4.0	Director	$0	$0	$0
NORIKO HONDA CHEN	TRUSTEE	4.0	Director	$0	$0	$0
SARAH MOLLMAN UNDERHILL	TRUSTEE	4.0	Director	$0	$0	$0
VALERIE DIFEBO	TRUSTEE	4.0	Director	$0	$0	$0
VIDISHA PATEL	TRUSTEE	4.0	Director	$0	$0	$0
WILLIAM FOOTE	TRUSTEE	4.0	Director	$0	$0	$0
ABIGAIL WATTLEY	CHIEF INVESTMENT OFFICER (EFFECTIVE JULY 1, 2023)	40.0	Officer	$565,011	$37,586	$602,597
EIKO SINIAWER	PROVOST	40.0	Officer	$292,367	$57,547	$349,914
JAMES REISCHE	VP OF COMMUNICATIONS	40.0	Officer	$255,635	$65,205	$320,840
KELI GAIL	SECRETARY OF THE COLLEGE	40.0	Officer	$264,280	$52,299	$316,579
LARA SHORE-SHEPPARD	DEAN OF THE FACULTY (EFFECTIVE JULY 1, 2023)	40.0	Officer	$236,508	$63,997	$300,505
LETICIA SMITH-EVANS HAYNES	VP FOR INSTITUTIONAL DIVERSITY, EQUITY, AND INCLUSION	40.0	Officer	$255,361	$67,957	$323,318
MARGARET LONG	DEAN OF THE COLLEGE	40.0	Officer	$290,857	$99,510	$390,367
MEGAN MOREY	VP OF COLLEGE RELATIONS	40.0	Officer	$407,297	$119,407	$526,704
MICHAEL WAGNER	VP FOR FINANCE & OPERATIONS, TREASURER	40.0	Officer	$557,196	$75,803	$632,999
BRADFORD WAKEMAN	MANAGING DIR / COO, INV OFFICE	40.0	Highest	$474,042	$69,918	$543,960
JAMES ART	GENERAL COUNSEL	40.0	Highest	$270,339	$129,849	$400,188
JOHN KLEINER	PROFESSOR OF ENGLISH	40.0	Highest	$280,648	$36,781	$317,429
KENNETH KUTTNER	PROFESSOR OF ECONOMICS	40.0	Highest	$265,649	$79,597	$345,246
PAMELA FRANKS	DIRECTOR OF THE WILLIAMS COLLEGE MUSEUM OF ART	40.0	Highest	$269,371	$77,591	$346,962
COLLETTE CHILTON	CHIEF INVESTMENT OFFICER (THROUGH JUNE 30, 2023)	40.0		$916,166	$126,739	$1,042,905
DAVID LOVE	FORMER PROVOST, PROF OF ECONOMICS	40.0		$231,872	$58,018	$289,890
DENISE BUELL	FORMER DEAN OF THE FACULTY, PROF OF RELIGION	40.0		$174,951	$55,778	$230,729
LEE PARK	FORMER DEAN OF THE FACULTY, PROF OF CHEMISTRY	40.0		$185,399	$46,256	$231,655
MARLENE SANDSTROM	FORMER DEAN OF COLLEGE, PROF OF PSYCH	40.0		$224,335	$57,234	$281,569
PROTIK M MAJUMDER	FORMER PRESIDENT, PROF OF PHYSICS	40.0		$180,217	$59,254	$239,471
SAFA ZAKI	FORMER DEAN OF THE FACULTY, PROF OF PSYCHOLOGY	40.0		$152,232	$34,148	$186,380

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	$447,892,568	$366,089,597	$5,075,834,072	$81,802,971
2023	$424,095,865	$357,041,990	$4,819,845,872	$67,053,875
2022	$557,181,278	$335,644,814	$4,861,650,167	$221,536,464
2021	$397,351,793	$310,371,787	$5,589,417,372	$86,980,006
2020	$349,880,547	$323,526,222	$4,107,584,297	$26,354,325
2019	$469,065,898	$324,968,743	$4,124,342,736	$144,097,155
2018	$389,029,242	$303,989,041	$3,870,877,825	$85,040,201

Williams College