Albion College

Analysis

Albion College is a registered charity in United States, based in Albion, MI. It received its IRS tax-exemption ruling in June 1972, 54 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, Albion College reported income of $103.9m and spending of $124.4m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $109.4m to $103.9m (-5.1%), an average of -1.3% a year. The sharpest change came in the year to June 2023, when income dropped by 16%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Albion College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Harvard Private Capital Realty Inc ($103.8m), University of Dubuque ($104.0m) and National University Foundation ($103.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.0% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $2.1m (1.7% of expenses). Other salaries and wages came to $24.1m. At year end it held assets of $273.2m against liabilities of $76.0m, net assets of $197.2m. It reported 1,385 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.