College of Our Lady of the Elms

Analysis

College of Our Lady of the Elms is a registered charity in United States, based in Chicopee, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, College of Our Lady of the Elms reported income of $47.8m and spending of $45.1m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $46.1m to $47.8m (+3.8%), an average of +0.9% a year. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, College of Our Lady of the Elms sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Western Michigan University Foundation ($47.7m), Marshall University Foundation Incorporated ($48.1m) and University of Memphis Foundation ($47.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $1.0m (2.3% of expenses). Other salaries and wages came to $14.6m. It paid $7,250 in professional fundraising fees. At year end it held assets of $79.3m against liabilities of $18.2m, net assets of $61.1m. It reported 711 employees.