Mcphs University
- Assets
- $2.0b
- Revenue
- $374.2m
- Investments
- $673.1m
- Employees
- 2,879
- Location
- Boston, MA
- Founding
- 11/1934
- Data as of
- 06/2021
- EIN
- 04-2104700
Organization Overview
Mcphs University is located in Boston, MA. The organization was established in 1934. 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, Mcphs University employed 2,879 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcphs 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 06/2021, Mcphs University generated $374.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $247.0m during the year ending 06/2021. While expenses have increased by 5.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MCPHS UNIVERSITY IS A PRIVATE, ACCREDITED EDUCATIONAL INSTITUTION SPECIALIZING IN PREPARING STUDENTS FOR MEDICAL CAREERS BY PROVIDING INTENSIVE PROGRAMS OF STUDY IN PHARMACY AND OTHER HEALTH SCIENCES.
Describe the Organization's Program Activity:
THE UNIVERSITY PROVIDED EDUCATIONAL PROGRAMS TO STUDENTS PURSUING UNDERGRADUATE AND GRADUATE DEGREES IN PHARMACY AND HEALTH SCIENCE DISCIPLINES.
THE UNIVERSITY PROVIDED DORMITORY ACCOMODATIONS FOR STUDENTS.
THE UNIVERSITY PROVIDED CONTINUING EDUCATION COURSES AND PROGRAMS FOR PHARMACISTS AND OTHER HEALTH CARE PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles F Monahan Jr Former President | 55 | $4,487,946 | |
Richard J Lessard President | Officer | 55 | $1,238,947 |
Caroline Zeind Vpaa - Provost | Officer | 55 | $626,254 |
Marguerite Johnson Former VP For Development | 55 | $567,971 | |
Keith A Bellucci Chief Financial Officer | Officer | 55 | $431,792 |
Thomas A Scanlon Chief Info Officer | Officer | 55 | $420,974 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crsp Llc Covid-19 Testing | 6/29/21 | $3,492,500 |
Harvard Maintenance Maintenance Services | 6/29/21 | $1,201,401 |
Chartwells Dining Services Food & Catering Services | 6/29/21 | $616,865 |
Professional Staffing Group Staffing Services | 6/29/21 | $1,069,293 |
Securitas Security Services Security Services | 6/29/21 | $577,843 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $525,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $510,163 |
| Noncash contributions included in lines 1a–1f | $10,932 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,035,979 |
| Total Program Service Revenue | $294,473,107 |
| Investment income | $24,192,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,795,883 |
| Net Gain/Loss on Asset Sales | $49,703,748 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $374,201,406 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $59,865,889 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,342,553 |
| Compensation of current officers, directors, key employees. | $3,212,513 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,269,383 |
| Pension plan accruals and contributions | $6,871,337 |
| Other employee benefits | $12,144,260 |
| Payroll taxes | $7,670,873 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $196,690 |
| Fees for services: Accounting | $201,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,045,829 |
| Fees for services: Other | $1,794,719 |
| Advertising and promotion | $1,671,281 |
| Office expenses | $295,753 |
| Information technology | $3,639,903 |
| Royalties | $0 |
| Occupancy | $18,475,844 |
| Travel | $108,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $540,827 |
| Interest | $2,619,944 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,909,501 |
| Insurance | $973,755 |
| All other expenses | $6,352,364 |
| Total functional expenses | $246,961,299 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,260 |
| Savings and temporary cash investments | $49,098,536 |
| Pledges and grants receivable | $70,289 |
| Accounts receivable, net | $2,297,724 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,475,362 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,234,523 |
| Net Land, buildings, and equipment | $195,311,126 |
| Investments—publicly traded securities | $987,055,026 |
| Investments—other securities | $673,074,766 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,247,718 |
| Total assets | $1,998,877,330 |
| Accounts payable and accrued expenses | $16,506,538 |
| Grants payable | $0 |
| Deferred revenue | $19,419,678 |
| Tax-exempt bond liabilities | $62,233,150 |
| 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 | $69,763,510 |
| Total liabilities | $167,922,876 |
| Net assets without donor restrictions | $1,783,685,816 |
| Net assets with donor restrictions | $47,268,638 |
| 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 | $1,998,877,330 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Mcphs University has recieved totaling $257,967.
| Awarding Organization | Amount |
|---|---|
Artists For World Peace Inc Middletown, CT PURPOSE: IMPROVED VISION | $200,000 |
Bright Family Foundation Modesto, CA PURPOSE: EDUCATIONAL SCHOLARSHIPS | $25,000 |
The Warren C And Mary E Dole Charitable Trust - 1990 Boston, MA PURPOSE: CHARITABLE | $20,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,867 |
Norman Raab Foundation Seattle, WA PURPOSE: EDUCATION | $2,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $1,100 |
Endowment Analysis
| Beg. Balance | $45,034,879 |
| Earnings | $14,922,351 |
| Net Contributions | $128,573 |
| Other Expense | $390,924 |
| Grants | $382,925 |
| Ending Balance | $59,311,954 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern New Hampshire University Manchester, NH | $1,413,400,967 | $1,091,579,648 |
Albert Einstein College Of Medicine Bronx, NY | $1,023,925,401 | $371,509,260 |
Bentley University Waltham, MA | $681,081,992 | $316,624,866 |
Mcphs University Boston, MA | $1,998,877,330 | $374,201,406 |
Teachers College Columbia University New York, NY | $726,324,570 | $250,184,193 |
Bryant University Smithfield, RI | $506,736,315 | $218,647,857 |
Rhode Island School Of Design Providence, RI | $767,673,515 | $200,813,322 |
Feinberg Graduate School Of The Weizmann Institute Of Science New York, NY | $6,818,981 | $172,532,346 |
New York Medical College Valhalla, NY | $318,677,910 | $119,697,970 |
Touro University New York, NY | $83,518,573 | $93,950,601 |
New York Law School New York, NY | $345,948,911 | $82,190,230 |
Brooklyn Law School Brooklyn, NY | $395,638,685 | $73,619,300 |