Clark University
- Assets
- $728.5m
- Revenue
- $226.9m
- Investments
- $451.7m
- Employees
- 2,654
- Location
- Worcester, MA
- Founding
- 12/1937
- Data as of
- 05/2023
- EIN
- 04-2111203
Organization Overview
Clark University is located in Worcester, MA. The organization was established in 1937. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Clark University employed 2,654 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark 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 05/2023, Clark University generated $226.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $248.9m during the year ending 05/2023. While expenses have increased by 5.1% per year over the past 8 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.
Since 2015, Clark University has awarded 107 individual grants totaling $7,290,769. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CLARK UNIVERSITY'S MISSION IS TO EDUCATE UNDERGRADUATE AND GRADUATE (CONTINUED ON SCHEDULE O)STUDENTS TO BE IMAGINATIVE AND CONTRIBUTING CITIZENS OF THE WORLD, AND TO ADVANCE THE FRONTIERS OF KNOWLEDGE AND UNDERSTANDING THROUGH RIGOROUS SCHOLARSHIP AND CREATIVE EFFORT.
Describe the Organization's Program Activity:
INSTRUCTION AND ACADEMIC SUPPORT: CLARK'S FALL 2022 ENROLLMENT CONSISTED OF 2,389 UNDERGRADUATES AND 1,412 GRADUATE STUDENTS. OUR MOTTO - AND MISSION - IS "CHALLENGE CONVENTION; CHANGE OUR WORLD", AND OUR FACULTY MEMBERS WORK TO INSPIRE THEIR STUDENTS TO UTILIZE THEIR LIBERAL ARTS BASED EDUCATION TO MAKE A REAL DIFFERENCE IN THE COMMUNITIES IN WHICH THEY LIVE AND WORK. WE ALSO HAVE STRONG GRADUATE PROGRAMS, WHICH INCLUDE MASTERS' LEVEL DEGREES AND EIGHT PHD PROGRAMS.
AUXILIARY SERVICES INCLUDES PROVIDING HIGH QUALITY RESIDENCE HALLS, FOOD SERVICE, AND CAMPUS STORE SERVICES TO CLARK STUDENTS.STUDENT SERVICES PROGRAMS SUPPORT AN ENVIRONMENT FOR STUDENTS THAT ENCOURAGES THEM TO BECOME ACTIVE, INVOLVED AND RESPONSIBLE CITIZENS IN GLOBAL COMMUNITIES. RESOURCES ARE EXPENDED TO PROVIDE SUPPORT TO STUDENTS IN ACHIEVING THEIR NON-ACADEMIC GOALS AND PROVIDING A BALANCED AND HEALTHY SOCIAL ENVIRONMENT.
FINANCIAL AID: CLARK IS COMMITTED TO BEING AFFORDABLE TO THOSE STUDENTS ABLE TO MEET THE HIGH ACADEMIC EXPECTATIONS OF OUR FACULTY. APPROXIMATELY 95% OF UNDERGRADUATE STUDENTS RECEIVE SOME LEVEL OF FINANCIAL ASSISTANCE, WHICH IS DISTRIBUTED ON THE BASIS OF BOTH MERIT AND FINANCIAL NEED.
RESEARCH: CLARK IS COMMITTED TO A PROGRAM OF RESEARCH AND HAS A VERY PROFESSIONALLY ACTIVE FACULTY, VIRTUALLY ALL OF WHOM ARE ENGAGED IN SPONSORED OR UNSPONSORED RESEARCH AND CREATIVE ACTIVITY. UNDERGRADUATE AND GRADUATE STUDENTS PARTICIPATE EXTENSIVELY IN FACULTY-DIRECTED RESEARCH. RESEARCH IS FUNDED BY BOTH PRIVATE AND PUBLIC GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ani Aprahamian Trustee | Trustee | 2 | $0 |
Jason M Barnett Trustee | Trustee | 2 | $0 |
Donella Brockington Trustee (as Of 07/2022) | Trustee | 2 | $0 |
Ingrid Busson-Hall Trustee | Trustee | 2 | $0 |
Anthony Cannon Trustee | Trustee | 2 | $0 |
Kevin Cherry Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Affiliates Food Services | 5/30/23 | $6,345,845 |
Consigli Construction Co Inc Construction Management-goddard Library | 5/30/23 | $2,818,780 |
Lauring Construction Co Inc Construction Management-michelson Theate | 5/30/23 | $4,410,034 |
Acella Construction Corporation Construction Management-sackler Science | 5/30/23 | $2,198,157 |
Shawmut Design And Contruction Construction Management-macd Building | 5/30/23 | $18,749,441 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,594,040 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,256,812 |
| Noncash contributions included in lines 1a–1f | $370,373 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,850,852 |
| Total Program Service Revenue | $188,308,957 |
| Investment income | $2,866,466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $210,709 |
| Net Rental Income | $368,941 |
| Net Gain/Loss on Asset Sales | -$503,467 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $226,941,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,646,144 |
| Grants and other assistance to domestic individuals. | $88,519,104 |
| Grants and other assistance to Foreign Orgs/Individuals | $182,395 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,244,444 |
| Compensation of current officers, directors, key employees. | $3,301,383 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,407,229 |
| Pension plan accruals and contributions | $4,687,505 |
| Other employee benefits | $8,584,943 |
| Payroll taxes | $4,748,575 |
| Fees for services: Management | $655,158 |
| Fees for services: Legal | $423,678 |
| Fees for services: Accounting | $270,710 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $38,596 |
| Fees for services: Investment Management | $1,293,585 |
| Fees for services: Other | $15,152,862 |
| Advertising and promotion | $772,396 |
| Office expenses | $3,994,809 |
| Information technology | $2,489,380 |
| Royalties | $1,434,132 |
| Occupancy | $7,894,895 |
| Travel | $2,670,152 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,730,720 |
| Interest | $4,399,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,436,353 |
| Insurance | $1,032,406 |
| All other expenses | $1,925,448 |
| Total functional expenses | $248,885,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,854 |
| Savings and temporary cash investments | $56,487,522 |
| Pledges and grants receivable | $8,477,856 |
| Accounts receivable, net | $1,855,270 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,460,161 |
| Prepaid expenses and deferred charges | $4,369,134 |
| Net Land, buildings, and equipment | $189,042,976 |
| Investments—publicly traded securities | $11,470,961 |
| Investments—other securities | $451,677,645 |
| Investments—program-related | $1,365,639 |
| Intangible assets | $0 |
| Other assets | $2,068,210 |
| Total assets | $728,511,228 |
| Accounts payable and accrued expenses | $23,860,351 |
| Grants payable | $0 |
| Deferred revenue | $10,492,371 |
| Tax-exempt bond liabilities | $0 |
| 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 | $154,487,366 |
| Other liabilities | $12,412,147 |
| Total liabilities | $201,252,235 |
| Net assets without donor restrictions | $132,424,916 |
| Net assets with donor restrictions | $394,834,077 |
| 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 | $728,511,228 |
Grants Awarded
Over the last fiscal year, Clark University has awarded $1,642,654 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON PRIVATE INDUSTRY COUNCIL INC PURPOSE: RESEARCH/TRAINING | $325,000 |
CAREERSOURCE TAMPA BAY PURPOSE: RESEARCH/TRAINING | $440,645 |
CITY OF GREENSBORO PURPOSE: RESEARCH/TRAINING | $26,450 |
CITY OF WORCESTER PURPOSE: RESEARCH/TRAINING | $509,188 |
FULL EMPLOYMENT COUNCIL INC PURPOSE: RESEARCH/TRAINING | $33,225 |
ICF INTERNATIONAL PURPOSE: RESEARCH | $32,619 |