Corporation of Haverford College

Nonprofit profile at a glance

EIN
236002304
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Haverford, PA, USA
Phone
6108961223
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$212,487,281
Expenses
$180,746,299
Assets
$1,013,785,824
Liabilities
$154,453,548

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

48 people listed

Executive titles in this filing

  • WENDY RAYMOND (PRESIDENT)

Highest reported compensation

  • WENDY RAYMOND (PRESIDENT): $788,529 total reported compensation
  • KIMBERLY SPANG (VP, INSTITUTIONAL ADVANCE/ASST SEC.): $421,207 total reported compensation
  • NICO WASHINGTON (VP, FINANCE & ADMIN./TREASURER): $363,665 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Haverford college is committed to providing a liberal arts education in the broadest sense. This education, based on a rich academic curriculum at its core, is distinguished by a commitment to excellence and a concern for individual growth. Haverford has chosen to remain small and foster a close student/faculty relationship to achieve these objectives. The college's rigorous academic program is flexible in form and content to meet the needs of individual students, and rests on the assumption that the able students who come here will use their capabilities fully. Haverford's faculty are noted for strength in both scholarship and teaching, and its members expect to transmit to students their enthusiasm and high standards. The faculty members are teaching at an undergraduate college of arts and sciences by choice, and they expect to learn, as well as teach, in the close relationship with undergraduates.

What it reported doing in 2024

Student services: dean, registrar, counseling, career development, health services, athletics, disability services, and other miscellaneous services. While these offices support student health, development, and well-being in different ways, they all share an approach that is based on respect for student choices and a fundamental commitment to the importance of education in the decision-making process. The staff of these offices are committed to helping students achieve their potential both as individuals and as members of the community. The recent 6-year graduation rates for the college have been 89% or higher. Based on the entire class of 2024, 29% proceeded directly to graduate/professional school and 65% were employed, undertaking volunteer work or awarded a fellowship within six months of graduation. 6% were seeking employment or unknown at that point. For the 10 year period from 2012-2022, haverford college graduates earned doctorate degrees at a rate of 16.1%, which places haverford 5th among liberal arts colleges and 9th overall.

Operating model

Revenue model
Other-operating. 78% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 74
  • Accountability: 94
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: $3.99 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95.2%; rating input score 95; 35th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 96.8%; rating input score 97; 52nd 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: 14.9%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 5.61; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 91.6% of revenue deployed · 83.7% of spending went to programs
  • Governance: 30 of 31 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $151.3M in reported program spending
  • Leadership: top reported pay $789K · 48 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.4M reported
  • Consistency: 47 of 48 current checks pass · 1 finding to review
  • Schedules: 13 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.