Franklin W Olin College of Engineering Inc

Nonprofit profile at a glance

EIN
061519057
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2015
Location
Needham, MA, USA
Phone
7812922300
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$40,842,979
Expenses
$66,181,192
Assets
$511,011,583
Liabilities
$162,886,376

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

Leadership & pay

30 people listed

Executive titles in this filing

  • GILDA BARABINO (PRESIDENT/TRUSTEE (EX-OFFICIO))
  • LAUREN TAAFFE (VICE PRESIDENT & CHIEF OF STAFF)

Highest reported compensation

  • GILDA BARABINO (PRESIDENT/TRUSTEE (EX-OFFICIO)): $792,962 total reported compensation
  • ALBERT SACCO JR (CHIEF ACADMEIC OFFICER & PROVOST): $479,916 total reported compensation
  • DONNA GOLEMME (VP FOR FINANCE & ADMINISTRATION): $384,189 total reported compensation

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

Overview

Mission

Olin college prepares students to become exemplary engineering innovators who recognize needs, design solutions, and engage in creative enterprises for the good of the world. Olin is dedicated to continual discovery and development of effective learning approaches and environments, and to co-developing educational transformation with collaborators around the globe.

What it reported doing in 2024

Founded in 1997, franklin w. Olin college of engineering, inc. (olin or the college) is an undergraduate engineering institution with a mission to transform engineering education toward a world in which engineering serves everyone. The college has approximately 387 students from around the world and has attracted 1,154 applicants for the fall 2025 entering class. Olin's innovative approach to engineering education stresses project-based, interdisciplinary learning and focuses on helping engineers understand the real-world impact of their work, as well as develop skills to tackle the world's most important problems, and be passionate about serving people, society, and the planet. Every admitted student receives an eight semester half tuition merit scholarship over four years. The college is accredited by the new england commission of higher education (formerly a part of new england association of schools and colleges) and the college's three degree programs are accredited by abet, the accrediting organization for engineering programs.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 67% for direct work, and 33% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: $2.09 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • 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; 41st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -62%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 7.72; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 78.4% of spending went to programs
  • Governance: 12 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $51.9M in reported program spending
  • Leadership: top reported pay $793K · 30 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $8.4M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

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 7/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.