President and Fellows of Middlebury College
President and Fellows of Middlebury College reported $511.3 million in revenue and $443.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $84.72 went to program services, $14.22 to management and general costs and $1.06 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 58.6% of the total. The highest compensation it reported for one person was $810,670 (President (Thru 12/31/24)). 390 people received more than $100,000 in reportable compensation. Revenue rose 28% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $444MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $511MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.7% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 14.2% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.1% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 19.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.5% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 58.6% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $810,670 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.18% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 390 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 49.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 34 of 35 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseInstruction represents the expenses for the educational programs. The programs are comprised of students who are full time on the Middlebury VT campus plus the students who are attending the study abroad and summer programs. A bachelors degree and a masters in language and English are the primary degrees granted. The Monterey CA campus offers graduate degrees in programs of study in translation, interpretation and language education and international policy management
Academic support represents sponsored activities expenses incurred in support of the educational activities for enrolled students. Grants include support to other organizations, foundations, and research institutions
Student services and financial aid represents expenses incurred in the support of the enrolled students
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President (Thru 12/31/24) Director/trustee, officer, 40.00 hrs/week | $682,905 | $0 | $127,765 | $810,670 |
| EVP Finance & Admin. Officer, 40.00 hrs/week | $424,502 | $0 | $128,307 | $552,809 |
| VP Advancement Highest compensated employee, 40.00 hrs/week | $414,422 | $0 | $102,030 | $516,452 |
| Secretary & General Counsel Officer, 40.00 hrs/week | $315,747 | $0 | $116,821 | $432,568 |
| Director of CNS Highest compensated employee, 40.00 hrs/week | $327,861 | $0 | $73,824 | $401,685 |
| Exec, Dir. Davis UWC Highest compensated employee, 40.00 hrs/week | $287,813 | $0 | $97,913 | $385,726 |
| Interim Provost Key employee, 40.00 hrs/week | $260,507 | $0 | $105,940 | $366,447 |
| VP Student Affairs Key employee, 40.00 hrs/week | $265,272 | $0 | $73,086 | $338,358 |
390 people received more than $100,000 in reportable compensation from President and Fellows of Middlebury College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.3M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b35 · 34 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 54,881
- Volunteers Part I, line 6844
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Naylor & Breen Builders Inc Construction | $30,686,486 |
| Premier Coach Co Inc Transportation | $669,201 |
| Skytrac Services Construction | $548,008 |
| Smith Alvarez & Sienkiewycz Architecture | $503,281 |
Individuals listed as contractors are left out. 60 contractors were paid more than $100,000 in all.
Private foundation grants it received
163 private foundations reported grants to President and Fellows of Middlebury College totaling $13M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from President and Fellows of Middlebury College's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for President and Fellows of Middlebury College, you can publish a response that is linked from this page.
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Of every $100 President and Fellows of Middlebury College spent in FY2025, $84.72 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Corporation of Gonzaga UniversitySpokane, WA · revenue $509M · programs 88.1% · FY2025
- The Association of University PhysiciansSeattle, WA · revenue $519M · programs 87.6% · FY2025
- High Point UniversityHigh Point, NC · revenue $502M · programs 82.4% · FY2025
- Seattle UniversitySeattle, WA · revenue $521M · programs 84.9% · FY2025
- Pomona CollegeClaremont, CA · revenue $502M · programs 88.2% · FY2025
Questions people ask
How much of President and Fellows of Middlebury College's spending goes to programs?
In the fiscal year ending June 30, 2025, President and Fellows of Middlebury College reported that 84.7% of its $443.8 million in expenses went to program services, 14.2% to management and general and 1.1% to fundraising (Form 990, Part IX).
How much does President and Fellows of Middlebury College pay its top executive?
The largest total compensation President and Fellows of Middlebury College reported for one person in the fiscal year ending June 30, 2025 was $810,670, for the role of President (Thru 12/31/24) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does President and Fellows of Middlebury College get its money?
Of $511.3 million in revenue in the fiscal year ending June 30, 2025, 19.6% came from contributions and grants (including 1.5% from government grants) and 58.6% from program service revenue (Form 990, Part VIII).
Is President and Fellows of Middlebury College a registered charity?
The IRS lists EIN 03-0179298 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202631349349300338 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541349349304844 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202411359349308291 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301359349307495 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231369349302503 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111329349302436 · read the filing
All filings for EIN 03-0179298: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.