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Williams College

Williamstown, MA · EIN 04-2104847 · 501(c)(3) · School
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Williams College reported $528.8 million in revenue and $396.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $88.80 went to program services, $8.43 to management and general costs and $2.77 to fundraising. Its largest source of revenue was investment income: 45.5% of the total. The highest compensation it reported for one person was $1,646,388 (FORMER CHIEF INVESTMENT Officer (Through June 30, 2023)). 407 people received more than $100,000 in reportable compensation. Revenue rose 51% 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 $397M

Program services$88.80 $352M
Management & general$8.43 $33M
Fundraising$2.77 $11M

For 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 $529M

Contributions & grants (non-government)$17.44 $92M
Government grants$1.11 $5.8M
Program service revenue$35.98 $190M
Investment income$45.46 $240M
Other revenue$0.01 $68,274

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	88.8%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	8.4%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	2.8%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.11	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	18.5%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	1.1%	1.1%
Program service revenue share Part VIII 2g ÷ 12	36.0%	69.9%
Highest reported compensation Part VII-A, columns D–F	$1,646,388	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.42%	1.28%
People paid over $100,000 Part VII, line 2	407	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	133.4	13.3
Independent voting board members Part VI 1a–1b	24 of 25	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 expense

$352M expenses · 100.0% of program spending · grants $80M · revenue $186M

WILLIAMS IS AN INDEPENDENT LIBERAL ARTS COLLEGE FOR APPROXIMATELY 2,100 FULL-TIME UNDERGRADUATE AND 50 GRADUATE STUDENTS WHO COME FROM ALL OF THE 50 STATES and countries from around the world. THE WILLIAMS CURRICULUM OFFERS STUDY IN THE HUMANITIES, THE SOCIAL SCIENCES AND THE NATURAL SCIENCES AND COMBINES A BROAD EDUCATION WITH KNOWLEDGE OF ONE FIELD IN DEPTH. THE COLLEGE OFFERS THE BACHELOR OF ARTS DEGREE AT THE UNDERGRADUATE LEVEL. IN ADDITION, the college offers MASTER OF ARTS PROGRAMS IN POLICY ECONOMICS AND HISTORY OF ART

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
FORMER CHIEF INVESTMENT Officer (Through June 30, 2023) Former, 0.0 hrs/week	$1,637,836	$0	$8,552	$1,646,388
PRESIDENT Director/trustee, officer, 40.0 hrs/week	$820,656	$0	$172,034	$992,690
MANAGING DIRECTOR/INVESTMENT OFFICE Highest compensated employee, 40.0 hrs/week	$634,016	$0	$157,630	$791,646
VP FOR FINANCE & OPERATIONS, TREASURER Officer, 40.0 hrs/week	$579,806	$0	$79,042	$658,848
CHIEF INVESTMENT Officer (Effective July 1, 2023) Officer, 40.0 hrs/week	$585,520	$0	$39,413	$624,933
DIRECTOR OF INVESTMENT OPERATIONS Highest compensated employee, 40.0 hrs/week	$443,751	$0	$98,035	$541,786
VP OF COLLEGE RELATIONS Officer, 40.0 hrs/week	$428,086	$0	$79,103	$507,189
MANAGING DIR / COO, INV OFFICE Highest compensated employee, 40.0 hrs/week	$425,021	$0	$73,309	$498,330

407 people received more than $100,000 in reportable compensation from Williams College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.2M (Part IX, line 5).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$529M	$397M	88.8%	$4.41B	$1,646,388
FY2024 ⓘ	$448M	$366M	88.8%	$4.11B	$1,042,905
FY2023 ⓘ	$424M	$357M	87.4%	$3.87B	$1,368,816
FY2022 ⓘ	$557M	$336M	88.0%	$3.87B	$2,438,236
FY2021 ⓘ	$397M	$310M	86.4%	$4.44B	$2,151,031
FY2020 ⓘ	$350M	$324M	87.4%	$3.19B	$2,020,332

Governance 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–1b25 · 24 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 11aYes
Family or business ties among insiders Part VI 2Yes
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 26Yes
Lobbying, or a 501(h) election in effect Part IV 4Yes
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 53,351
Volunteers Part I, line 67,681

Largest outside contractors

FY2025 · Form 990, Part VII, Section B · businesses only

Suffolk Construction Company Inc Construction	$7,679,108
Consigli Construction Co Inc Construction	$4,239,310
Huron Consulting Services LLC Consulting	$3,867,302
Cannon Boston Inc Consulting	$2,110,295

Individuals listed as contractors are left out. 56 contractors were paid more than $100,000 in all.

Private foundation grants it received

155 private foundations reported grants to Williams College totaling $28M 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 Williams 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 Williams College, you can publish a response that is linked from this page.

Report a correction Respond as Williams College How this works

Similar-sized charities in this cause

Seattle University
Seattle, WA · revenue $521M · programs 84.9% · FY2025
Worcester Polytechnic Institute
Worcester, MA · revenue $529M · programs 83.0% · FY2025
The Association of University Physicians
Seattle, WA · revenue $519M · programs 87.6% · FY2025
The Trustees of the Smith College
Northampton, MA · revenue $533M · programs 82.5% · FY2025
President and Fellows of Middlebury College
Middlebury, VT · revenue $511M · programs 84.7% · FY2025

All education charities · Largest charities in Massachusetts

Questions people ask

How much of Williams College's spending goes to programs?

In the fiscal year ending June 30, 2025, Williams College reported that 88.8% of its $396.6 million in expenses went to program services, 8.4% to management and general and 2.8% to fundraising (Form 990, Part IX).

How much does Williams College pay its top executive?

The largest total compensation Williams College reported for one person in the fiscal year ending June 30, 2025 was $1,646,388, for the role of FORMER CHIEF INVESTMENT Officer (Through June 30, 2023) (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Williams College get its money?

Of $528.8 million in revenue in the fiscal year ending June 30, 2025, 18.5% came from contributions and grants (including 1.1% from government grants) and 36.0% from program service revenue (Form 990, Part VIII).

Is Williams College a registered charity?

The IRS lists EIN 04-2104847 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 202631349349302993 · read the filing
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202501349349312610 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202431359349305018 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301329349308795 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231339349307013 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101379349305700 · read the filing

All filings for EIN 04-2104847: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.