Hillsdale College
33 E College St, Hillsdale, MI · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $423,688,130 | $292,735,155 | $1,949,100,954 |
| FY2024 | $394,153,037 | $270,721,431 | $1,742,554,338 |
| FY2023 | $320,784,822 | $248,527,191 | $1,588,493,869 |
| FY2022 | $366,213,645 | $214,265,709 | $1,453,234,679 |
| FY2021 | $367,996,683 | $191,767,397 | $1,412,029,909 |
| FY2020 | $287,422,849 | $172,808,580 | $1,125,414,535 |
| FY2019 | $210,643,421 | $166,228,751 | $1,056,667,404 |
| FY2018 | $219,356,427 | $151,999,759 | $1,011,256,162 |
| FY2016 | $172,784,501 | $129,460,737 | $807,177,440 |
| FY2015 | $200,352,549 | $129,853,793 | $806,575,351 |
| FY2014 | $181,165,251 | $118,464,216 | $766,373,101 |
| FY2013 | $212,280,691 | $104,546,138 | $666,560,751 |
| FY2012 | $103,985,949 | $101,783,740 | $543,581,917 |
| FY2011 | $98,168,716 | $90,876,149 | $563,620,587 |
Form 990 filings
The returns filed by Hillsdale College (EIN 38-1374230), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $297,205,968 | 70% |
| Program service revenue | $77,452,651 | 18% |
| Other revenue | $49,029,511 | 12% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $175,649,484 | 60% |
| Management & general | $36,643,044 | 13% |
| Fundraising | $80,442,627 | 27% |
What the numbers show
- Contributions & grants made up 70% of total revenue in FY2025.
- Program services accounted for 60% of functional expenses, management & general 13%, and fundraising 27%.
- 60% of functional expenses went to program services in FY2025. That is higher than 1.6% of 63 Education organizations in MI.
- Net assets covered about 79.9 months of expenses at the end of the reporting year. That puts it in the 77th percentile among 1365 Education organizations in MI.
- Total revenue was the highest among 1396 Education organizations in MI.
- Total revenue rose from $98,168,716 in FY2011 to $423,688,130 in FY2025. Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2011 to FY2025.
- Net assets grew from $563,620,587 to $1,949,100,954 between FY2011 and FY2025.
- Contributions and grants made up 46% of revenue in FY2011 and 70% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
HILLSDALE COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE WITH APPROXIMATELY 1,500 STUDENTS.
IRS status
| Ruling year | 1943 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B420 — Education (in MI) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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