Babson in the Community 2014

Financial Impact

Babson makes a significant financial impact on local communities, and is committed to partnering with community members and organizations throughout the year to create sustainable economic and social value.

$23 Million

Babson and our affiliated programs contributed nearly $23 million to the economies of Wellesley and Needham during the 2013–2014 fiscal year, including direct and indirect contributions.

Direct Financial Contributions

Babson purchases a significant amount of products and services from Wellesley and Needham businesses each year. This fiscal year, Babson spent $5,664,793 in Wellesley and $1,701,224 in Needham (including credit card sales). The total spent in Wellesley includes a $75,000 payment in lieu of taxes to the town.

The North Hill retirement community in Needham, located on land owned by Babson, paid $635,000 in property taxes to the town of Needham.

Indirect Financial Contributions

  • Babson is a Wellesley Chamber of Commerce board member and provides financial support to Chamber activities.
  • The College contributed to the Wellesley parade.
  • $1,837,500 is the estimated amount spent annually both on campus and in the local community by Babson’s 2,100 undergraduate students.
  • 02457 is the ZIP code of the full-service Babson Park Post Office (operating rent-free in a Babson-owned building).
  • Babson Executive Conference Center (BECC) has provided nearly $500,000 to the Wellesley and Needham economies during the 2013–2014 fiscal year:
    • $212,979 in services and products purchased from Needham and Wellesley businesses
    • $217,559 payroll budget for residents of Needham and Wellesley
    • $61,471 paid to Wellesley for room occupancy taxes, licenses, and fees
  • Babson uses local vendors and contractors whenever possible:
    • $18.5 million investment in building projects
    • $13.3 million investment in plant maintenance
  • Babson College and Wellesley College provide support to the Wellesley Community Children’s Center (WCCC), a child care center serving families from both the Needham and Wellesley communities. During the 2013–2014 fiscal year, WCCC served seven children from Needham and 56 from Wellesley. Seventeen children have a parent who works or studies at Babson.
  • Boston Sports Clubs (BSC) in Wellesley, a recreation facility owned by Babson and leased to Town Sports International, regularly purchases products and services from Wellesley and Needham vendors.

Babson Employees

People icons

1,340 / Total employees who patronize local businesses

99 Residents of Wellesley / 66 Residents of Needham—That equals about 12 percent of the College’s employees and $13 million of the annual payroll budget.

For a list of available positions at Babson, visit www.babson.edu/jobs

Wellesley Spelling Bee

Educational Financial Support

  • $15,000 in Wellesley town scholarships awarded to one student
  • $30,000 in Needham town scholarships awarded to five students
  • $3,750 donated to the Wellesley Education Foundation for the annual Wellesley Spelling Bee