Form 990

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The College, like all 503(c) (tax-exempt not-for profit) organizations in the United States, must file a Form 990 each year. On this form is reported major spending and revenue data such as the amount spent that on legal fees, revenue from investments, value of land holdings, the salary of the President and other officers, and a wealth of other information.

Form 990s for all 503(c)s are available at GuideStar.com. The past several years' forms are also archived on Willipedia:

As an example of the type of information found on the Form 990s, consider the President's annual salary and benefits.

Year President Salary Benefits Total
1998 Payne $224,550 $49,105 $273,655
1999 Payne $232,550 $645,672 $878,222
2000 Payne $242,550 $49,007 $291,557
2001 Schapiro $290,000 $64,891 $354,891
2002 Schapiro $307,400 $84,095 $391,495
2003 Schapiro $325,844 $97,161 $423,005
2004 Schapiro $345,000 $93,257 $438,257

The large benefit payout for Payne in 1999 was associated with his abrupt departure from the College.