The College’s fiscal year 2013 revenue totaled $1,193,865,978, a $226,161,333 increase from last year, according to Dartmouth’s 990 tax form filed yesterday. The increase is the largest since the 2010 fiscal year.
Total revenue increased by about $230 million between fiscal years 2009 and 2010.
The growth can largely be attributed to investment revenue, vice president for finance Mike Wagner said. Investment revenue jumped from $166,846,602 last fiscal year to $381,715,647.
The endowment at the end of this year was around $3.7 billion, up from around $3.5 billion last year.
Chief investment officer Pamela Peedin received a total compensation of $1,060,844, the highest of any administrator. This amount includes an incentive bonus of $562,500.
Peedin’s compensation is relatively low compared to that of chief investment officers at peer institutions, which generally have larger endowments. For example, according to Yale University’s fiscal year 2012 990 tax form, its chief investment officer David Swensen received almost $3 million in compensation.
The second highest-paid senior administrator was Geisel School of Medicine Dean Chip Souba at $899,766, followed by Tuck School of Business Dean Paul Danos at $794,155.
Former Interim College President Carol Folt was sixth on the list, receiving $699,742 in 2012. Folt served as provost for the first half of the year and interim president for the second.
Information on current College President Phil Hanlon’s compensation will be included in next year’s filing.
Former College President Jim Yong Kim received a $200,000 performance bonus in 2012.
Though the most recent 990 form shows the College’s finances from the 2013 fiscal year, salaries shown are for the 2012 calendar year.
In 2011, according to the most recent data available, the Ivy League president with the highest total compensation was Columbia University’s president Lee Bollinger, who received $2,327,344, while the lowest was David Skorton, president of Cornell University, at $865,331.
Other Ivy League universities’ filings for this year have not yet been made available.
The College determines its administrators’ compensation from various sources, including private consultants, other universities’ financial information and performance assessments, Wagner said. The rates are set with respect to those of comparable positions at peer institutions, he said.
“It’s a question of maintaining a competitive advantage,” College spokesperson Justin Anderson said. “We want to attract the best candidates for all these senior-level positions.”
He added that Dartmouth has been making efforts in the past five years to catch up with the compensation rates of other Ivy League institutions.
Due to administrative turnover and subsequent interim positions, the form included several people performing the same job for different parts of the year, Anderson said.
The College spent $478,924,633 on employee compensation and benefits, an increase from $444,510,823 last year.
Tuition and fees alone contributed a total revenue of $314,728,327 for the past fiscal year.
In 2012, Dartmouth was the only Ivy League university that did not spend money on lobbying, but it spent around $80,000 on lobbying in 2013, including meetings with legislators and White House staff on federally-funded research programs and sequestration, as well as state and local officials.
College-run businesses like the Hanover Inn and the Dartmouth Skiway contributed income totaling $15,407,679, up from $14,029,145 last year.
The College is also required to report transactions that involve potential conflicts of interest. For example, Gregg Engles, founder of Dean Foods Company, which provides milk to the College from Garelick Farms, is a member of the Board of Trustees. The College paid $193,177 to Garelick Farms for its products last year, according to the form.
Peedin did not respond to requests for comment by press time.
