Wells College
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 31,801,251 | 29,289,790 | 2,511,461 | 27.2 | 28% |
| 2021 | 23,598,312 | 26,542,932 | −2,944,620 | 31.7 | 30% |
| 2022 | 30,195,610 | 29,620,091 | 575,519 | 25.8 | 29% |
| 2023 | 29,627,481 | 32,843,838 | −3,216,357 | 22.4 | 30% |
In its most recent public year (2023), this organization spent $3,216,357 more than it brought in. Its reserves stood at about 22.4 months of spending, down from 27.2 in 2020. Staff pay was 30% of spending. $40,834,665 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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