Bates College

What it reported doing in 2024

Higher Education: Bates College offers a rigorous liberal arts education that is distinctive in its emphasis on student research, a signature thesis or capstone experience, immersive Short Term experience, Purposeful Work program, and opportunities for community-engaged learning. A 9-1 student-faculty ratio makes possible close collaborations in classroom and laboratory. A Bates education aims to prepare graduates who strive to embody the following qualities, capabilities, and inclinations: Knowledge, Problem Solving, Analytic Strength; Discernment and Persuasion; Intellectual Curiosity; Social Commitment and Integrity. Co-curricular life is rich with most students participating in one of approximately 120 student-run clubs and organizations. Typically, two-thirds of Bates' approximately 1,750 students on campus study abroad at some point during their Bates academic careers and close to 80 percent of students participate in internships. More than half of recent graduates earn a postgraduate degree within 15 years after graduation.

Financial Efficiency

• Mission deployment rate: 95.7%; rating input score 96
• Program expense ratio: 86.8%; rating input score 87
• Fundraising efficiency: $3.45 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 95%; rating input score 95; 34th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 2 of 8 controls in place; rating input score 25
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Pass
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99.9%; rating input score 100; 45th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 97%; rating input score 97; 51st percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 18.3%; rating input score 86; 86th percentile among comparable filings
• Total-asset coverage ratio: 4.64; rating input score 83; 83rd percentile among comparable filings
• Liabilities to assets ratio: 0.21; rating input score 66; 66th percentile among comparable filings
• Officer compensation ratio: 2.5%; rating input score 45; 45th percentile among comparable filings

Growth

• Program expense growth: 3.6% per year; rating input score 100; 28th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 29th percentile among comparable filings
• Asset growth: 5.8% per year; rating input score 100; 43rd percentile among comparable filings