Hillsdale College
Hillsdale College reported $423.7 million in revenue and $292.7 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $60.00 went to program services, $12.52 to management and general costs and $27.48 to fundraising. Its largest source of revenue was contributions and grants: 70.1% of the total. The highest compensation it reported for one person was $1,325,414 (PRESIDENT). 191 people received more than $100,000 in reportable compensation. Revenue rose 47% 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 $293MFor 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 $424MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 60.0% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.5% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 27.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.27 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 70.1% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 18.3% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,325,414 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.45% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 191 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 79.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 33 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 expenseStudent instruction Hillsdale College maintains its defense of the classical liberal arts curriculum, convinced that it is the best preparation for meeting the challenges of modern life and that it offers to all people of all backgrounds not only an important body of knowledge, but also timeless truths about the human condition. The liberal arts are dedicated to stimulating students' intellectual curiosity, to encouraging the critical, well-disciplined mind, and to fostering personal growth through academic challenge. As such, the college maintains a rigorous core curriculum of 50 academic…
Student scholarships and grants Hillsdale College has been committed to independence since its founding in 1844. When a 1984 U.S. Supreme court ruling threatened hillsdale with the entire range of federal regulations because some of its students received federal financial aid, the college resolved that not a single hillsdale student would accept even one cent of federal grants, loans, or scholarships. Instead, hillsdale established the privately funded student independence scholarship and loan fund in place of taxpayer-funded aid for deserving students who seek the kind of classical liberal…
Student services hillsdale's student services include the admissions office, career services, academic services, student affairs, and health and wellness services. The admissions office receives an increasing number and higher caliber of applications each year, leading to a selective acceptance rate of just under 20 percent for the most recent academic year. The office emphasizes a holistic approach to application reviews and conducts personal interviews with 99 percent of applicants. The career services office helps students develop their strengths and introduces them to opportunities…
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 Director/trustee, officer, 40.00 hrs/week | $1,226,266 | $0 | $99,148 | $1,325,414 |
| EVP FOR INST. ADVANCEMENT Key employee, 40.00 hrs/week | $550,844 | $0 | $66,264 | $617,108 |
| VP & GENERAL COUNSEL Key employee, 40.00 hrs/week | $389,870 | $0 | $64,750 | $454,620 |
| VP FOR ADMISSIONS & BUS DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $341,943 | $0 | $61,894 | $403,837 |
| VP FOR DC OPS & DEAN OF VASOG Highest compensated employee, 40.00 hrs/week | $333,787 | $0 | $68,099 | $401,886 |
| VP FOR INST. ADVANCEMENT Key employee, 40.00 hrs/week | $340,811 | $0 | $58,636 | $399,447 |
| PROVOST Key employee, 40.00 hrs/week | $325,502 | $0 | $47,927 | $373,429 |
| VP OF ADMIN. AFFAIRS & SECRETARY Officer, 40.00 hrs/week | $300,477 | $0 | $64,499 | $364,976 |
191 people received more than $100,000 in reportable compensation from Hillsdale College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.8M (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 · 33 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- 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 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 26No
- 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 52,350
- Volunteers Part I, line 6905
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NEXT AFTER LLC Consulting/marketing | $28,208,572 |
| WEIGAND CONSTRUCTION Construction | $24,027,077 |
| METZ CULINARY MANAGEMENT Food services | $9,227,238 |
| FORRESTER CONSTRUCTION COMPANY Construction | $8,949,237 |
| RR DONNELLEY Printing/mailing | $6,964,403 |
Individuals listed as contractors are left out. 145 contractors were paid more than $100,000 in all.
Private foundation grants it received
640 private foundations reported grants to Hillsdale College totaling $61M 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 Hillsdale 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 Hillsdale College, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Hillsdale College spent in FY2025, $60.00 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Bucknell UniversityLewisburg, PA · revenue $421M · programs 84.4% · FY2025
- Providence CollegeProvidence, RI · revenue $424M · programs 82.6% · FY2025
- University of Cincinnati PhysiciansCincinnati, OH · revenue $418M · programs 85.0% · FY2025
- The Catholic University of AmericaWashington, DC · revenue $425M · programs 88.9% · FY2025
- Bentley UniversityWaltham, MA · revenue $414M · programs 86.5% · FY2025
Questions people ask
How much of Hillsdale College's spending goes to programs?
In the fiscal year ending June 30, 2025, Hillsdale College reported that 60.0% of its $292.7 million in expenses went to program services, 12.5% to management and general and 27.5% to fundraising (Form 990, Part IX).
How much does Hillsdale College pay its top executive?
The largest total compensation Hillsdale College reported for one person in the fiscal year ending June 30, 2025 was $1,325,414, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Hillsdale College get its money?
Of $423.7 million in revenue in the fiscal year ending June 30, 2025, 70.1% came from contributions and grants and 18.3% from program service revenue (Form 990, Part VIII).
Is Hillsdale College a registered charity?
The IRS lists EIN 38-1374230 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 202631359349308808 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202501299349302420 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441359349310364 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341329349308244 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211339349306686 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111349349301751 · read the filing
All filings for EIN 38-1374230: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.