Hartwick College
Hartwick College faces persistent operating deficits and declining assets over recent years.
EIN: 150533561 · Oneonta, NY · NTEE: B420 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $104.7M |
| Total Expenses | $95.3M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $80 |
| Net Assets | $66.7M |
| Transparency Score | 60/100 |
Is Hartwick College Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hartwick College directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hartwick College
Hartwick College (EIN: 150533561) is a nonprofit organization based in Oneonta, NY, classified under NTEE code B420. The organization reported total revenue of $104.7M and total assets of $105.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hartwick College's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hartwick College is a major nonprofit that has been operating for 89 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $82.9M |
| Total Expenses | $95.3M |
| Surplus / Deficit | $-12,414,504 |
| Total Assets | $114.2M |
| Total Liabilities | $47.5M |
| Net Assets | $66.7M |
| Operating Margin | -15.0% |
| Debt-to-Asset Ratio | 41.6% |
| Months of Reserves | 14.4 months |
Financial Health Grade: B
In 2023, Hartwick College reported a deficit of $12.4M with expenses exceeding revenue, holds 14.4 months of operating reserves (strong position), has a debt-to-asset ratio of 41.6% (moderate leverage).
Financial Trends
Over 12 years of filings (2011–2023), Hartwick College's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.4% | +0.3% | -13.6% |
| 2022 | +0.2% | +6.9% | -13.9% |
| 2021 | +14.7% | +5.5% | +7.6% |
| 2020 | +5.4% | +5.1% | -6.0% |
| 2019 | -0.9% | +2.9% | -3.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2700 |
| IRS Ruling Date | 1937 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hartwick College with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Hartwick College allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $12.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 41.6%.
Executive Compensation Analysis
The consistent reporting of 0% for officer compensation across all available filings is highly unusual for an institution with revenues exceeding $80 million annually, suggesting that executive compensation may be categorized differently or not fully disclosed under this specific line item, raising a transparency question.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hartwick College's IRS 990 filings:
- Consistent operating deficits, with expenses frequently exceeding revenue (e.g., $95M expenses vs. $82M revenue in 2023).
- Significant decline in total assets over the past decade, from $160,041,840 in 2015 to $114,215,151 in 2023.
- Unusual reporting of 0% for officer compensation across all filings, raising transparency concerns regarding executive pay.
- Increasing liabilities, reaching $47,486,204 in 2023, which, combined with declining assets, could indicate financial strain.
Strengths
The following positive indicators were identified for Hartwick College:
- Long and consistent history of IRS 990 filings (12 filings), indicating compliance with reporting requirements.
- Substantial revenue base, with latest reported revenue at $104,711,987, demonstrating significant operational scale.
- Maintains a substantial asset base of over $100 million, providing a foundation for operations despite recent declines.
Frequently Asked Questions about Hartwick College
Is Hartwick College a legitimate charity?
Based on AI analysis of IRS 990 filings, Hartwick College (EIN: 150533561) some concerns. Mission Score: 60/100. 4 red flags identified, 3 strengths noted.
How does Hartwick College spend its money?
Hartwick College directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hartwick College tax-deductible?
Hartwick College is registered as a tax-exempt nonprofit (EIN: 150533561). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hartwick College CEO make?
Hartwick College's highest-compensated officer earns $80 annually. The organization reported $104.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hartwick College's spending goes to programs?
Hartwick College directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hartwick College compare to similar nonprofits?
With a transparency score of 60/100 (Good), Hartwick College is above average for NTEE category B420 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hartwick College located?
Hartwick College is headquartered in Oneonta, New York and files with the IRS under EIN 150533561. It is classified under NTEE code B420.
How many years of IRS 990 filings does Hartwick College have?
Hartwick College has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $104.7M in total revenue.
What is the cause of Hartwick College's consistent operating deficits?
The filings consistently show expenses exceeding revenue, such as $95,291,688 in expenses versus $82,877,184 in revenue in 2023, indicating a structural imbalance that needs further investigation into revenue generation and cost control.
Why is officer compensation consistently reported as 0%?
It is highly improbable for an organization of Hartwick College's size and revenue to have no officer compensation. This suggests that executive salaries might be reported under other expense categories or that the provided data for 'Officer Comp' is incomplete or misleading.
What is the strategy to address the decline in assets from $160 million in 2015 to $114 million in 2023?
The significant reduction in assets over the past decade, from $160,041,840 in 2015 to $114,215,151 in 2023, indicates a need for a clear strategy to stabilize and grow the asset base, potentially through endowment growth or capital campaigns.
How are increasing liabilities being managed?
Liabilities have increased to $47,486,204 in 2023. Understanding the nature of these liabilities (e.g., debt, deferred revenue) and the plan for their management is crucial for assessing financial risk.
Filing History
IRS 990 filing history for Hartwick College showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Hartwick College's revenue has grown by 10.9%, moving from $74.7M to $82.9M. Total assets decreased by 10.2% over the same period, from $127.3M to $114.2M. Total functional expenses rose by 38.3%, from $68.9M to $95.3M. In its most recent filing year (2023), Hartwick College reported a deficit of $12.4M, with expenses exceeding revenue. The organization holds $47.5M in liabilities against $114.2M in assets (debt-to-asset ratio: 41.6%), resulting in net assets of $66.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $82.9M | $95.3M | $114.2M | $47.5M | — | — |
| 2022 | $87.6M | $95.0M | $132.2M | $50.2M | — | View 990 |
| 2021 | $87.4M | $88.9M | $153.4M | $51.1M | — | View 990 |
| 2020 | $76.2M | $84.2M | $142.7M | $55.2M | — | View 990 |
| 2019 | $72.3M | $80.2M | $151.8M | $51.3M | — | View 990 |
| 2018 | $73.0M | $77.9M | $156.6M | $51.1M | — | View 990 |
| 2017 | $78.7M | $80.4M | $158.9M | $52.2M | — | View 990 |
| 2015 | $79.3M | $81.1M | $160.0M | $52.4M | — | View 990 |
| 2014 | $81.8M | $81.7M | $137.5M | $27.6M | — | View 990 |
| 2013 | $81.6M | $75.9M | $128.9M | $29.1M | — | View 990 |
| 2012 | $74.7M | $73.8M | $124.1M | $29.8M | — | View 990 |
| 2011 | $74.7M | $68.9M | $127.3M | $32.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $82.9M, expenses of $95.3M, and assets of $114.2M (revenue -5.4% year-over-year).
- 2022: Revenue of $87.6M, expenses of $95.0M, and assets of $132.2M (revenue +0.2% year-over-year).
- 2021: Revenue of $87.4M, expenses of $88.9M, and assets of $153.4M (revenue +14.7% year-over-year).
- 2020: Revenue of $76.2M, expenses of $84.2M, and assets of $142.7M (revenue +5.4% year-over-year).
- 2019: Revenue of $72.3M, expenses of $80.2M, and assets of $151.8M (revenue -0.9% year-over-year).
- 2018: Revenue of $73.0M, expenses of $77.9M, and assets of $156.6M (revenue -7.2% year-over-year).
- 2017: Revenue of $78.7M, expenses of $80.4M, and assets of $158.9M (revenue -0.7% year-over-year).
- 2015: Revenue of $79.3M, expenses of $81.1M, and assets of $160.0M (revenue -3.1% year-over-year).
- 2014: Revenue of $81.8M, expenses of $81.7M, and assets of $137.5M (revenue +0.2% year-over-year).
- 2013: Revenue of $81.6M, expenses of $75.9M, and assets of $128.9M (revenue +9.2% year-over-year).
- 2012: Revenue of $74.7M, expenses of $73.8M, and assets of $124.1M (revenue +-0.0% year-over-year).
- 2011: Revenue of $74.7M, expenses of $68.9M, and assets of $127.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hartwick College:
Data Sources and Methodology
This transparency report for Hartwick College is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.