Lasell University
- Assets
- $134.1m
- Revenue
- $87.6m
- Investments
- $133.7k
- Employees
- 989
- Location
- Newton, MA
- Founding
- 05/1928
- Data as of
- 06/2022
- EIN
- 04-2103585
Organization Overview
Lasell University is located in Newton, MA. The organization was established in 1928. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Lasell University employed 989 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lasell 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 06/2022, Lasell University generated $87.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $92.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE IMMERSE STUDENTS IN EXPERIENTIAL AND COLLABORATIVE LEARNING THAT FOSTERS LIFELONG INTELLECTUAL EXPLORATION AND SOCIAL RESPONSIBILITY.
Describe the Organization's Program Activity:
LASELL UNIVERSITY IS A COMPREHENSIVE COEDUCATIONAL UNIVERSITY WHICH OFFERS PROFESSIONALLY ORIENTED BACHELOR'S AND MASTER'S DEGREE PROGRAMS, INCLUDING MORE THAN 25 ACADEMIC MAJORS.OUR STUDENTS ARE GIVEN THE OPPORTUNITY TO PRACTICE AND PREPARE FOR THE REAL WORLD THROUGH A PROJECT-BASED AND PROBLEM-BASED APPROACH TO TEACHING, THROUGH EXPOSURE TO DIVERSE CULTURES AND PEOPLES, THROUGH THE DEVELOPMENT OF CRITICAL SKILLS SUCH AS WRITING AND SPEAKING IN FRONT OF GROUPS, AND THROUGH CONFRONTATION WITH ETHICAL AND MORAL QUESTIONS.LASELL UNIVERSITY IS KNOWN FOR HELPING STUDENTS MAKE THE CONNECTION BETWEEN CLASSROOM LESSONS AND REAL LIFE THROUGH HANDS-ON ACTIVITIES SUCH AS INTERNSHIPS, PRACTICA, SERVICE LEARNING, AND MEANINGFUL PROJECTS. CONNECTED LEARNING AT LASELL UNIVERSITY INVOLVES STUDENTS DIRECTLY AND ACTIVELY IN THE FIELDS THEY ARE LEARNING. IN ALL MAJORS, STUDENTS EXPLORE REAL ISSUES, EVENTS, PROBLEMS, AND SOLUTIONS. LASELL UNIVERSITY FACULTY ARE COMMITTED TO CREATIVELY INTEGRATING CHALLENGING COURSEWORK WITH PRACTICAL EXPERIENCE IN AN ENVIRONMENT THAT FOSTERS LIFELONG INTELLECTUAL EXPLORATION, ACTIVE CITIZENSHIP AND SOCIAL RESPONSIBILTIY.
PROVIDED MANAGEMENT AND EDUCATIONAL SERVICES AND LEASED LAND TO LASELL VILLAGE, INC., A TAX-EXEMPT AFFILIATE, FUNCTIONS THAT ARE INTEGRAL TO THE CONDUCT OF THE EXEMPT FUNCTIONS OF LASELL VILLAGE, INC.
PROVIDED FACILITIES FOR OTHER EDUCATIONAL ORGANIZATIONS TO CONDUCT EDUCATIONAL PROGRAMS AND TO PROVIDE HOUSING TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keon Holmes Trustee | Trustee | 1 | $0 |
Gerry Deroche Chair | OfficerTrustee | 1 | $0 |
Peter Schulte Treasurer | OfficerTrustee | 1 | $0 |
Lori Hindle Vice Chair | OfficerTrustee | 1 | $0 |
John Mckenna Trustee | Trustee | 1 | $0 |
Bryan Ward Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Food Services | 6/29/22 | $3,716,141 |
Abm Housekeeping Services | 6/29/22 | $1,338,774 |
Brightview Landscaping Landscaping | 6/29/22 | $691,189 |
Clinical Research Sequencing Platform Covid Testing Services | 6/29/22 | $465,734 |
Eab Marketing Services | 6/29/22 | $381,117 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,493,384 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,746,554 |
| Noncash contributions included in lines 1a–1f | $63,961 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,239,938 |
| Total Program Service Revenue | $76,681,164 |
| Investment income | $3,564,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $129,492 |
| Net Gain/Loss on Asset Sales | -$196,126 |
| Net Income from Fundraising Events | $63,564 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,122 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,640,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $35,296,515 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $947,768 |
| Compensation of current officers, directors, key employees. | $695,914 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,905,923 |
| Pension plan accruals and contributions | $1,041,570 |
| Other employee benefits | $3,511,205 |
| Payroll taxes | $1,758,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,143 |
| Fees for services: Accounting | $129,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $66,363 |
| Fees for services: Investment Management | $191,809 |
| Fees for services: Other | $2,046,517 |
| Advertising and promotion | $1,310,809 |
| Office expenses | $1,639,753 |
| Information technology | $1,624,001 |
| Royalties | $0 |
| Occupancy | $5,526,124 |
| Travel | $477,332 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,545 |
| Interest | $1,792,122 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,397,903 |
| Insurance | $611,373 |
| All other expenses | $1,014,253 |
| Total functional expenses | $92,286,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,966 |
| Savings and temporary cash investments | $3,553,368 |
| Pledges and grants receivable | $888,311 |
| Accounts receivable, net | $1,135,838 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,956 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $889,105 |
| Net Land, buildings, and equipment | $83,263,616 |
| Investments—publicly traded securities | $40,490,940 |
| Investments—other securities | $133,711 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,737,902 |
| Total assets | $134,108,713 |
| Accounts payable and accrued expenses | $5,569,592 |
| Grants payable | $0 |
| Deferred revenue | $6,085,172 |
| Tax-exempt bond liabilities | $60,131,199 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,071,390 |
| Total liabilities | $72,857,353 |
| Net assets without donor restrictions | $43,906,414 |
| Net assets with donor restrictions | $17,344,946 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $134,108,713 |