Husson University
- Assets
- $142.2m
- Revenue
- $81.8m
- Investments
- $0.0
- Employees
- 1,312
- Location
- Bangor, ME
- Founding
- 08/1964
- Data as of
- 06/2020
- EIN
- 01-0271210
Organization Overview
Husson University is located in Bangor, ME. The organization was established in 1964. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Husson University employed 1,312 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Husson University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Husson University generated $81.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $72.6m during the year ending 06/2020. While expenses have increased by 2.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL INSTITUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION / EDUCATIONAL SERVICES FOR MORE THAN 120 YEARS, HUSSON UNIVERSITY HAS PREPARED FUTURE LEADERS TO ADDRESS THE CHALLENGES OF TOMORROW THROUGH INNOVATIVE UNDERGRADUATE AND GRADUATE DEGREES.WITH A COMMITMENT TO DELIVERING AFFORDABLE CLASSROOM, ONLINE AND EXPERIENTIAL LEARNING OPPORTUNITIES, HUSSON UNIVERSITY HAS COME TO REPRESENT SUPERIOR VALUE IN HIGHER EDUCATION. HUSSON UNIVERSITY OFFERS ADVANCED KNOWLEDGE IN BUSINESS, HEALTH, PHARMACY, SCIENCE AND CONTINUED ON SCHEDULE OHUMANITIES, AS WELL AS COMMUNICATION. IN ADDITION, HUSSON UNIVERSITY HAS A ROBUST ONLINE LEARNING PROGRAM.ACCORDING TO A RECENT ANALYSIS OF TUITION AND FEES BY U.S. NEWS & WORLD REPORT, HUSSON UNIVERSITY IS ONE OF THE MOST AFFORDABLE PRIVATE COLLEGES IN NEW ENGLAND. EDUCATION AT HUSSON UNIVERSITY PRODUCES RESULTS. ACCORDING TO THE MOST RECENT SURVEY DATA, 96 PERCENT OF HUSSON UNIVERSITY GRADUATES ARE EMPLOYED OR ENROLLED IN GRADUATE SCHOOL WITHIN ONE YEAR OF COMPLETING THEIR DEGREES.HUSSON UNIVERSITY IS REGIONALLY ACCREDITED BY THE NEW ENGLAND COUNCIL OF HIGHER EDUCATION (NECHE). REGIONAL ACCREDITATION APPLIES TO ALL PROGRAMS. THE UNIVERSITY IS ALSO ACCREDITED BY THE INTERNATIONAL ACCREDITATION COUNCIL FOR BUSINESS EDUCATION (IACBE), THE COMMISSION ON COLLEGIATE NURSING EDUCATION (CCNE), THE ACCREDITATION COUNCIL FOR OCCUPATIONAL THERAPY (ACOTE), THE COMMISSION ON ACCREDITATION IN PHYSICAL THERAPY EDUCATION (CAPTE), THE ACCREDITATION COUNCIL FOR PHARMACY EDUCATION (ACPE), AND THE COUNCIL FOR ACCREDITATION OF COUNSELING AND RELATED EDUCATIONAL PROGRAM (CACREP), WITH APPROVAL BY THE MAINE DEPARTMENT OF EDUCATION AND NATIONAL BOARD FOR CERTIFIED COUNSELORS FOR ITS TEACHER EDUCATION AND SCHOOL COUNSELING PROGRAMS RESPECTIVELY.ACCORDING TO 2020 IPEDS DATA, APPROXIMATELY 2,679 UNDERGRADUATE AND 794 GRADUATE STUDENTS CURRENTLY ARE ENROLLED AT HUSSON UNIVERSITY. HUSSON OFFERS 39 DEGREE PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVEL. APPROXIMATELY 73% OF THE HUSSON STUDENT BODY COMES FROM MAINE, 42% OF ALL STUDENTS ARE PELL ELIGIBLE, AND 17% OF UNDERGRADUATE STUDENTS ARE THE FIRST GENERATION IN THEIR FAMILY TO ATTEND COLLEGE. HUSSON UNIVERSITY HAS THE LARGEST COLLEGE OF BUSINESS IN MAINE, WITH OVER 1,200 STUDENTS AND GRADUATES MORE MBAS THAN ANY OTHER INSTITUTION IN THE STATE. THE UNIVERSITY'S NURSING PROGRAM, WITH AN ENROLLMENT OF 479 STUDENTS, IS AMONG THE INSTITUTIONS OF HIGHER EDUCATION RESPONDING TO THE CALL TO GRADUATE AN ADDITIONAL 400 LICENSE-ELIGIBLE NURSING STUDENTS EACH YEAR IN THE STATE OF MAINE. A THIRD MAJOR PART OF THE UNIVERSITY'S ACADEMIC PORTFOLIO IS HEALTH SCIENCES. OUR BS IN HEALTH SCIENCES DEGREE IS SPECIFICALLY DESIGNED TO PREPARE STUDENTS FOR OUR PHARM.D. PROGRAM, AS WELL AS OTHER GRADUATE SCHOOL OPPORTUNITIES.
AUXILIARY SERVICES THE AUXILIARY SERVICES DEPARTMENT PROVIDES A VARIETY OF SUPPORT SERVICES DESIGNED TO ENHANCE THE HUSSON EDUCATIONAL AND STUDENT EXPERIENCE FOR THE UNIVERSITY. SERVING A DIVERSE SET OF STAKEHOLDERS, AUXILIARY SERVICES WORKS TO ENSURING THE CONTINUED SUCCESS OF THE UNIVERSITY IN A FISCALLY RESPONSIBLE MANNER WHILE REDUCING RISK FOR THE INSTITUTION.SERVICES PROVIDED BY THIS DEPARTMENT INCLUDE DINING, MAINTENANCE, CONTINUED ON SCHEDULE OCUSTODIAL, ENVIRONMENTAL HEALTH, SAFETY, SECURITY, GROUNDS KEEPING, THE BOOKSTORE, AND CAPITAL FACILITY PROJECT MANAGEMENT.DINING SERVICES SEEKS TO PROVIDE A VARIETY OF WHOLESOME, NUTRITIOUS FOODS THAT MEET THE DIVERSE NEEDS OF THE HUSSON UNIVERSITY COMMUNITY.HUSSON OFFERS A VARIETY OF HOUSING OPTIONS FOR OVER 1,000 STUDENTS WHICH INCLUDES HART HALL, CARLISLE HALL, BELL HALL, THE DARLING LEARNING CENTER, AND THE TOWNHOUSES. THE LIVING LEARNING CENTER CAN HOUSE UP TO 240 STUDENTS. EACH SUITE IN THE DARLING LEARNING CENTER FEATURES SUITE-STYLE LIVING FOR FOUR STUDENTS. THE GROUND FLOOR CONTAINS STATE-OF-THE-ART EXPERIENTIAL CLASSROOM SPACE AND THE RONAN CENTER FOR FINANCIAL TECHNOLOGY. THREE TOWNHOUSE BUILDINGS HAVE ROOM FOR 72 STUDENTS. EACH TOWNHOUSE HAS SIX TWO-STORY FULLY FURNISHED APARTMENTS. THE CAMPUS ALSO INCLUDES THE DYKE CENTER FOR FAMILY BUSINESS, GRACIE THEATRE, NEWMAN GYMNASIUM, SWAN CENTER, WELLNESS LEARNING CENTER, THE WEBBER POOL, AS WELL AS NUMEROUS ATHLETIC FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Robert A Clark President | OfficerTrustee | 40 | $665,257 |
Rhonda Waskiewicz Dean, College Of Health And Pharmacy | 40 | $189,504 | |
Lynne Coy-Ogan Provost | Officer | 40 | $183,226 |
Craig Hadley VP Finance & Admin/treasurer | Officer | 40 | $171,302 |
Marie Hankinson Dean, College Of Business And Nescom | 40 | $169,916 | |
Sarah Robinson Vice President Of Advancement | 40 | $154,048 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sheridan Corporation Construction Services | 6/29/21 | $2,601,279 |
Wiley Edu Llc On-line Learning | 6/29/21 | $703,495 |
Fieldturf Usa Inc Construction Services | 6/29/21 | $668,480 |
Decibel Media Llc Advertising | 6/29/21 | $636,063 |
Omada Technologies Information Technology | 6/29/21 | $277,552 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,520,158 |
| Investment income | $627,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $109,111 |
| Net Gain/Loss on Asset Sales | $527,796 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,813,768 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $18,725,139 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $949,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,283,589 |
| Pension plan accruals and contributions | $1,111,786 |
| Other employee benefits | $4,100,916 |
| Payroll taxes | $1,999,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,609 |
| Fees for services: Accounting | $39,353 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,871 |
| Fees for services: Other | $4,428,203 |
| Advertising and promotion | $0 |
| Office expenses | $1,302,673 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,769,786 |
| Travel | $1,175,823 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,309 |
| Interest | $742,074 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,696,080 |
| Insurance | $168,576 |
| All other expenses | $0 |
| Total functional expenses | $72,622,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,031 |
| Savings and temporary cash investments | $26,070,300 |
| Pledges and grants receivable | $6,037,701 |
| Accounts receivable, net | $1,162,404 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $46,767 |
| Inventories for sale or use | $37,823 |
| Prepaid expenses and deferred charges | $669,047 |
| Investments—publicly traded securities | $30,333,335 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,213,765 |
| Accounts payable and accrued expenses | $4,605,420 |
| Grants payable | $0 |
| Deferred revenue | $2,409,553 |
| Tax-exempt bond liabilities | $21,345,904 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,397,993 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,124,194 |
| Total liabilities | $50,883,064 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $91,330,701 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Husson University has recieved totaling $61,400.
| Awarding Organization | Amount |
|---|---|
Edward And Mary Ellen Darling Family Foundation Brewer, ME PURPOSE: PUBLIC SUPPORT | $30,000 |
Machias Savings Bank Community Development Foundation Machias, ME PURPOSE: PROGRAM SUPPORT GRANT | $25,000 |
Mclanathan-Phippsburg Fire And Rescue Fund Inc Phippsburg, ME PURPOSE: SCHOLARSHIP | $3,000 |
William Searls Scholarship Foundation Damariscotta, ME PURPOSE: SCHOLARSHIP | $1,200 |
Trust Uw F Roger Miller Dallas, TX PURPOSE: SCHOLARSHIP FBO CHRISTIAN | $1,000 |
Jay L Ramsdell Foundation Damariscotta, ME PURPOSE: SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $20,248,617 |
| Earnings | $5,406,561 |
| Net Contributions | $1,259,655 |
| Grants | $746,675 |
| Ending Balance | $26,168,158 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Husson University Bangor, ME | $142,213,765 | $81,813,768 |
Maine College Of Health Professions Lewiston, ME | $8,564,967 | $4,663,699 |
Faith School Of Theology Charleston, ME | $3,890,624 | $1,531,230 |
Upper Valley Graduate School Of Education Lebanon, NH | $14,499 | $224,194 |
Maine Society Of Certified Public Accountants Portland, ME | $694,076 | $207,591 |