Johnson & Wales University
- Assets
- $812.4m
- Revenue
- $366.4m
- Investments
- $231.2m
- Employees
- 3,354
- Location
- Providence, RI
- Founding
- 11/1965
- Data as of
- 06/2022
- EIN
- 05-0306206
Organization Overview
Johnson & Wales University is located in Providence, RI. The organization was established in 1965. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Johnson & Wales University employed 3,354 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Johnson & Wales 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, Johnson & Wales University generated $366.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $346.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Johnson & Wales University has awarded 47 individual grants totaling $989,261. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL ACTIVITIES
Describe the Organization's Program Activity:
IN FY 2022, JWU ENROLLMENT AT ITS CAMPUSES IN PROVIDENCE, RI AND CHARLOTTE, NC AND ONLINE LEARNING PROGRAM TOTALED 8,724 STUDENTS(7,481 UNDERGRADS AND 1,243 GRAD). JWU AWARDED 2,676 DEGREES INCLUDING 602 ASSOCIATE'S, 1,443 BACHELOR'S,571 GRADUATE, 28 DOCTORAL, AND 32 CERTIFICATES. JWU EMPLOYED 327 FT AND 387 PT FACULTY THROUGHOUT ITS COLLEGES OF ART & SCIENCES,COLLEGE OF BUSINESS,COLLEGE OF ENGINEERING & DESIGN,COLLEGE OF FOOD INNOVATION & TECHNOLOGY,COLLEGE OF HOSPITALITY MANAGEMENT, AND COLLEGE OF ONLINE EDUCATION. 34% OF STUDENTS WERE FIRST GENERATION COLLEGE STUDENTS OF THOSE WHO REPORTED THEIR PARENTS' EDUCATION. 98% OF UNDERGRADUATE, DAY STUDENTS RECEIVED INSTITUTIONAL AID, WITH AN AVERAGE AID OF $19,012 PER STUDENT. INSTITUTIONAL SCHOLARSHIPS EXCEEDED $109 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Minnie L Runey Chancellor, President & CEO | OfficerTrustee | 45 | $768,066 |
Maribeth N Bisienere Trustee | Trustee | 1 | $0 |
Derick Close Trustee (ended 6/22/22) | Trustee | 1 | $0 |
James H Hance Jr Chair Of Board | Trustee | 1 | $0 |
Lionel E Larochelle II Trustee | Trustee | 1 | $0 |
John Martin Trustee (ended 6/22/22) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Inc Advertising Services | 6/29/22 | $2,826,855 |
Abm Cleaning Services | 6/29/22 | $1,965,116 |
Sodexho Inc Management Services | 6/29/22 | $1,301,870 |
Dominion Diagnostics Llc Medical Services | 6/29/22 | $934,470 |
Education Dynamics Llc Marketing & Enrollment Growth | 6/29/22 | $1,010,622 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $13,236 |
| Membership dues | $0 |
| Fundraising events | $44,221 |
| Related organizations | $0 |
| Government grants | $43,388,954 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,757,752 |
| Noncash contributions included in lines 1a–1f | $462,598 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,204,163 |
| Total Program Service Revenue | $290,690,897 |
| Investment income | $2,417,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $978,622 |
| Net Gain/Loss on Asset Sales | $25,446,802 |
| Net Income from Fundraising Events | -$51,356 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $366,413,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,180 |
| Grants and other assistance to domestic individuals. | $109,392,872 |
| Grants and other assistance to Foreign Orgs/Individuals | $392,627 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,414,231 |
| Compensation of current officers, directors, key employees. | $4,193,780 |
| Compensation to disqualified persons | $364,530 |
| Other salaries and wages | $97,154,922 |
| Pension plan accruals and contributions | $6,319,595 |
| Other employee benefits | $15,798,725 |
| Payroll taxes | $7,186,952 |
| Fees for services: Management | $394,810 |
| Fees for services: Legal | $111,286 |
| Fees for services: Accounting | $139,689 |
| Fees for services: Lobbying | $114,000 |
| Fees for services: Fundraising | $266,274 |
| Fees for services: Investment Management | $1,982,881 |
| Fees for services: Other | $4,333,202 |
| Advertising and promotion | $7,240,613 |
| Office expenses | $7,134,287 |
| Information technology | $3,751,287 |
| Royalties | $285,090 |
| Occupancy | $15,649,247 |
| Travel | $2,898,668 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,964,904 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,173,585 |
| Insurance | $3,511,599 |
| All other expenses | $2,597,005 |
| Total functional expenses | $346,099,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,450 |
| Savings and temporary cash investments | $51,051,128 |
| Pledges and grants receivable | $2,266,038 |
| Accounts receivable, net | $10,604,978 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,976,511 |
| Inventories for sale or use | $1,076,646 |
| Prepaid expenses and deferred charges | $6,940,126 |
| Net Land, buildings, and equipment | $367,024,078 |
| Investments—publicly traded securities | $90,771,088 |
| Investments—other securities | $231,187,434 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,440,289 |
| Total assets | $812,364,766 |
| Accounts payable and accrued expenses | $28,211,883 |
| Grants payable | $0 |
| Deferred revenue | $24,365,292 |
| Tax-exempt bond liabilities | $54,850,084 |
| Escrow or custodial account liability | $596,751 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,117,592 |
| Other liabilities | $3,066,495 |
| Total liabilities | $116,208,097 |
| Net assets without donor restrictions | $651,839,335 |
| Net assets with donor restrictions | $44,317,334 |
| 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 | $812,364,766 |
Grants Awarded
Over the last fiscal year, Johnson & Wales University has awarded $27,907 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PROVIDENCE RESCUE MISSION PURPOSE: SUPPORT ORGANIZATION - FOOD FOR THE HUNGRY | $5,712 |
PROJECT HAND UP PURPOSE: SUPPORT ORGANIZATION - FOOD FOR THE HUNGRY | $16,355 |
HABITAT FOR HUMANITY PURPOSE: SUPPORT ORGANIZATION - TO BRING PEOPLE TOGETHER TO BUILD HOMES, COMMUNITIES AND HOPE | $5,840 |