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.
Direct Financial Contributions
Babson purchases a significant amount of products and services from Wellesley and Needham businesses each year. This fiscal year, including credit card sales, Babson spent $4,806,202 in Wellesley and $1,028,662 in Needham. The total spent in Wellesley includes a $75,000 payment in lieu of taxes to the town, and $50,000 toward the purchase of the new Wellesley Fire Tower 2 apparatus.
The North Hill retirement community in Needham, located on land owned by Babson, paid $617,712 in property taxes to the town of Needham.
Indirect Financial Contributions
- Babson is a Wellesley Chamber of Commerceboard member, and provides financial support to Chamber activities.
- The College contributed to the Wellesley parade.
- Babson offered support for the elimination of Town Master Box wiring program, reducing Wellesley’s annual costs.
- $875 is the estimated amount annually spent by each of the 2,100 undergraduate students on campus and in the local community.
- 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 given back to the Wellesley and Needham economies in excess of $400,000 during the 2012–2013 fiscal year:
- $189,569 services and products purchased from Needham and Wellesley businesses
- $148,458 payroll budget for residents of Needham and Wellesley
- $70,255 paid to Wellesley for room occupancy taxes, licenses, and fees
- Babson uses local vendors and contractors whenever possible:
- $9 million investment in building projects
- $13 million investment in plant maintenance
- Babson College and Wellesley College provide support to the Wellesley Community Children’s Center (WCCC), a childcare center serving families from both Needham and Wellesley communities. During the 2012–2013 fiscal year, WCCC served 14 children from Needham and 54 from Wellesley. Twenty-six 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.