Providence College
- Assets
- $914.9m
- Revenue
- $327.8m
- Investments
- $265.9m
- Employees
- 2,711
- Location
- Providence, RI
- Founding
- 12/1942
- Data as of
- 06/2021
- EIN
- 05-0258932
Organization Overview
Providence College is located in Providence, RI. The organization was established in 1942. 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, Providence College employed 2,711 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence College 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, Providence College generated $327.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $301.9m during the year ending 06/2021. While expenses have increased by 2.6% per year over the past 7 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, Providence College has awarded 35 individual grants totaling $1,013,565. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OPROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Manchester-Molak Evp & Trustee | OfficerTrustee | 40 | $360,807 |
Rev Kenneth R Sicard Op President & Trustee | OfficerTrustee | 40 | $0 |
Karl W Anderson Trustee | Trustee | 2 | $0 |
Rev Francis Belanger Trustee | Trustee | 2 | $0 |
Joseph M Calabria Jr Trustee | Trustee | 2 | $0 |
John A Cervione Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Farrar & Associates Construction Management Services | 6/29/22 | $19,607,457 |
Sodexo Inc Food Services | 6/29/22 | $12,650,424 |
Ug2 Llc Janitorial Services | 6/29/22 | $5,108,821 |
United Healthcare Insurance Co Administrative Services | 6/29/22 | $1,701,657 |
Joseph Tavone Incorporated Administrative Services | 6/29/22 | $1,545,876 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,238,417 |
| Investment income | $1,123,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $425,000 |
| Net Rental Income | $8,726 |
| Net Gain/Loss on Asset Sales | $19,473,327 |
| Net Income from Fundraising Events | -$125,609 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $327,751,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $89,240,733 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,282,364 |
| Compensation to disqualified persons | $99,065 |
| Other salaries and wages | $88,506,413 |
| Pension plan accruals and contributions | $895,993 |
| Other employee benefits | $15,392,702 |
| Payroll taxes | $6,563,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $141,395 |
| Fees for services: Accounting | $276,390 |
| Fees for services: Lobbying | $18,000 |
| Fees for services: Fundraising | $134,259 |
| Fees for services: Investment Management | $2,220,001 |
| Fees for services: Other | $8,694,289 |
| Advertising and promotion | $592,313 |
| Office expenses | $2,207,893 |
| Information technology | $3,684,110 |
| Royalties | $0 |
| Occupancy | $5,550,811 |
| Travel | $222,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,541,675 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,904,332 |
| Insurance | $1,321,566 |
| All other expenses | $0 |
| Total functional expenses | $301,852,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,488,518 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $14,250,451 |
| Accounts receivable, net | $6,964,799 |
| Loans from Officers, Directors, or Controlling Persons | $2,857 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,320,330 |
| Investments—publicly traded securities | $124,616,679 |
| Investments—other securities | $265,896,852 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,089,193 |
| Total assets | $914,914,351 |
| Accounts payable and accrued expenses | $21,361,038 |
| Grants payable | $0 |
| Deferred revenue | $15,719,599 |
| Tax-exempt bond liabilities | $201,774,986 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $315,846 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,470,400 |
| Total liabilities | $243,641,869 |
| 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 | $671,272,482 |
Grants Awarded
Over the last fiscal year, Providence College has awarded $173,050 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SPECIAL OLYMPICS RHODE ISLAND PURPOSE: GENERAL SUPPORT | $11,600 |
THE MANTON AVENUE PROJECT PURPOSE: GENERAL SUPPORT | $10,000 |
YOUTH PRIDE INC PURPOSE: GENERAL SUPPORT | $10,250 |
SOPHIA ACADEMY PURPOSE: GENERAL SUPPORT | $12,500 |
YOUNG VOICES PURPOSE: GENERAL SUPPORT | $17,500 |
CATHOLIC FOUNDATION OF RHODE ISLAND PURPOSE: GENERAL SUPPORT | $100,000 |