Fairfield University
- Assets
- $941.7m
- Revenue
- $361.7m
- Investments
- $77.6m
- Employees
- 3,201
- Location
- Fairfield, CT
- Founding
- 10/1943
- Data as of
- 06/2020
- EIN
- 06-0646623
Organization Overview
Fairfield University is located in Fairfield, CT. The organization was established in 1943. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Fairfield University employed 3,201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairfield 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 06/2020, Fairfield University generated $361.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $316.2m during the year ending 06/2020. While expenses have increased by 2.8% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP THE CREATIVE INTELLECTUAL POTENTIAL OF ITS STUDENTS, SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAIRFIELD UNIVERSITY IS AN INSTITUTE OF HIGHER LEARNING WITH UNDERGRADUATE, GRADUATE, AND CONTINUING EDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS. SEE SCHEDULE O.
AUXILIARY SERVICES INCLUDE THE COSTS OF ROOM AND BOARD FOR APPROXIMATELY 3,106 FULL-TIME UNDERGRADUATE STUDENTS LIVING ON CAMPUS IN RESIDENCE HALLS, TOWNHOUSES, AND APARTMENT COMPLEXES RESIDING ON A 200-ACRE CAMPUS. GRADUATE STUDENT HOUSING IS ALSO OFFERED IN INDEPENDENT OFF-CAMPUS HOUSES, AND IN AN APARTMENT STYLE RESIDENCE HALL.
OTHER ACTIVITIES. A VARIETY OF STUDENT SERVICES INCLUDING ARTS AND ENTERTAINMENT AT THE QUICK CENTER, STUDENT ACTIVITIES FOR CLUB SPORTS, AND OTHER ITEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark R Nemec President | OfficerTrustee | 45 | $518,359 |
John Young Head Mbb Coach | 45 | $425,567 | |
Kevin Lawlor Exec Vice President (thru 5-10-2021) | Officer | 45 | $382,611 |
Zhan Li Dean, School Of Business | 45 | $325,524 | |
Christine Siegel Provost & Sr VP Academics | Officer | 45 | $320,044 |
Walter Halas VP Of Advancement | 45 | $297,953 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Operations Llc Dining Services | 6/29/21 | $13,229,414 |
Pac Group Llc Construction | 6/29/21 | $3,200,388 |
Whiting Turner Contracting Co Construction | 6/29/21 | $2,441,873 |
Gilbane Building Company Construction | 6/29/21 | $12,325,286 |
Abm Industry Group Llc Janitorial | 6/29/21 | $4,407,728 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,818,387 |
| Investment income | $12,887,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $401,787 |
| Net Gain/Loss on Asset Sales | $12,740,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $361,744,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $88,188,532 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,811,739 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,786,095 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,795,903 |
| Pension plan accruals and contributions | $6,888,309 |
| Other employee benefits | $20,156,829 |
| Payroll taxes | $6,817,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $774,333 |
| Fees for services: Accounting | $250,655 |
| Fees for services: Lobbying | $266 |
| Fees for services: Fundraising | $133,339 |
| Fees for services: Investment Management | $204,744 |
| Fees for services: Other | $12,783,827 |
| Advertising and promotion | $1,489,861 |
| Office expenses | $6,633,823 |
| Information technology | $4,584,783 |
| Royalties | $0 |
| Occupancy | $8,011,237 |
| Travel | $4,804,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $216,393 |
| Interest | $11,425,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,282,847 |
| Insurance | $1,139,851 |
| All other expenses | $0 |
| Total functional expenses | $316,245,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318 |
| Savings and temporary cash investments | $76,579,213 |
| Pledges and grants receivable | $37,015,242 |
| Accounts receivable, net | $2,281,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $287,124,280 |
| Investments—other securities | $77,551,274 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,304,194 |
| Total assets | $941,659,821 |
| Accounts payable and accrued expenses | $36,842,775 |
| Grants payable | $2,049,330 |
| Deferred revenue | $17,957,569 |
| Tax-exempt bond liabilities | $265,733,563 |
| 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 | $0 |
| Total liabilities | $322,583,237 |
| 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 | $619,076,584 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Fairfield University has recieved totaling $26,500.
| Awarding Organization | Amount |
|---|---|
Sheila Reynolds Berner Foundation New York, NY PURPOSE: CHARITABLE | $15,000 |
Rahr Foundation Shakopee, MN PURPOSE: SCHOLARSHIP | $7,500 |
Whitman Family Foundation Birmingham, MI PURPOSE: FINANCIAL AID FOR LOW-INCOME STUDENTS FROM BRIDGEPORT,C T OR OTHER IN-NEED COMMUNITIES | $2,000 |
Katherine L Peck Trust Uw Fbo Educational Scholarships Dallas, TX PURPOSE: SCHOLARSHIP | $1,000 |
Early Foundation Inc Fairfield, CT PURPOSE: GENERAL FUND | $1,000 |
Endowment Analysis
| Beg. Balance | $357,051,925 |
| Earnings | $118,628,213 |
| Admin Expense | $146,449 |
| Net Contributions | $5,229,014 |
| Other Expense | $11,999,924 |
| Grants | $4,158,615 |
| Ending Balance | $464,604,164 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Quinnipiac University Hamden, CT | $1,807,258,104 | $531,949,834 |
Brandeis University Waltham, MA | $1,811,655,582 | $399,602,478 |
Johnson & Wales University Providence, RI | $913,541,997 | $403,272,641 |
Bar Ilan University In Israel New York, NY | $542,311,841 | $462,229,998 |