Pratt Institute

Organization Overview

Pratt Institute is located in Brooklyn, NY. The organization was established in 1935. 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, Pratt Institute employed 3,619 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pratt Institute 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, Pratt Institute generated $327.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $300.9m during the year ending 06/2022. While expenses have increased by 4.1% 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO EDUCATE ARTISTS AND CREATIVE PROFESSIONALS TO BE RESPONSIBLE CONTRIBUTORS TO SOCIETY.

Describe the Organization's Program Activity:

INSTRUCTION: PRATT INSTITUTE IS ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION, AN INSTITUTIONAL ACCREDITING AGENCY RECOGNIZED BY THE US SECRETARY OF EDUCATION AND THE COMMISSION ON RECOGNITION OF POSTSECONDARY ACCREDITATION. THE INSTITUTE OFFERS 5 ASSOCIATE, 27 UNDERGRADUATE, AND 36 GRADUATE DEGREE PROGRAMS IN ART, DESIGN, ARCHITECTURE, LIBERAL ARTS AND SCIENCES, AND INFORMATION AND LIBRARY SCIENCES (GRADUATE LEVEL ONLY). (SEE CONTINUATION IN SCHEDULE O)


STUDENT SERVICES:EXPENSES INCURRED FOR STUDENT' ACTIVITIES AND EVENTS BY THE FOLLOWING DEPARTMENTS: ADMISSIONS, REGISTRAR, BURSAR, FINANCIAL AID, ATHLETICS, INTERNATIONAL AFFAIRS, HEALTH & COUNSELING, CAREER SERVICES AND OTHER STUDENT SUPPORT. THE STUDENT AFFAIRS DIVISION PROVIDES PROGRAMS AND SERVICES THAT PROMOTE STUDENT PERSONAL AND PROFESSIONAL DEVELOPMENT, FOSTERS A CAMPUS ENVIRONMENT THAT IS CONDUCIVE TO STUDENT LEARNING AND ADVOCATES FOR AND SUPPORTS STUDENTS AS THEY MEET ACADEMIC AND PERSONAL CHALLENGES. THE OFFICE OF INTERNATIONAL AFFAIRS PROVIDES SERVICES TO INTERNATIONAL STUDENTS FROM OVER 75 COUNTRIES AS WELL AS J-1 EXCHANGE VISITORS, EXCHANGE STUDENTS, PROFESSORS, AND SCHOLARS. THE OFFICE IS RESPONSIBLE TO ENSURE THE INSTITUTE'S COMPLIANCE WITH REQUIREMENTS OF THE DEPARTMENT OF HOMELAND SECURITY AND DEPARTMENT OF STATE. INSTITUTIONAL SUPPORT:INCLUDES EXPENDITURES PRIMARILY INCURRED BY THE OFFICES OF SECURITY, STRATEGIC PLANNING, INSTITUTIONAL RESEARCH, INFORMATION TECHNOLOGY, MARKETING, FINANCE, AND OTHER GENERAL EXPENSES OF THE INSTITUTION.OPERATION AND MAINTENANCE OF PLANT: INCLUDES EXPENSES FOR THE MAINTENANCE AND UPKEEP OF BUILDINGS, MANAGEMENT AND SUPPORT OF THE OPERATIONS OF PHYSICAL PLANT FACILITIES, UTILITIES, CLEANING AND OTHER RELATED FUNCTIONS, CAPITAL RENOVATION AND DEFERRED MAINTENANCE PROJECTS. THE INSTITUTE IS CURRENTLY UNDERGOING A MAJOR UPGRADE TO ITS AGING STEAM PLANT IN ORDER TO REDUCE CARBON EMISSIONS AND COMPLY WITH LOCAL CARBON REDUCTION REQUIREMENTS. PUBLIC SERVICE:THE INSTITUTE PLAYS AN ACTIVE ROLE IN COMMUNITY-BASED PLANNING AND RESEARCH PROGRAMS THAT EMPOWER LOCAL RESIDENTS AND BUSINESSES TO DEVELOP ROBUST URBAN CENTERS IN WHICH TO WORK, PLAY AND LIVE. COMMUNITY BASED PROGRAMS INCLUDE THE LONG-RUNNING SATURDAY ART SCHOOL AND PRATT YOUNG SCHOLARS PROGRAM. SERVICES OF THE SPATIAL ANALYSIS AND VISUALIZATION LAB ARE AVAILABLE TO THE COMMUNITY AND REGULARLY PROVIDES GIS TECHNICAL ASSISTANCE TO NEW YORK CITY-BASED NONPROFIT, CIVIC, AND COMMUNITY-BASED PLANNING ORGANIZATIONS. SAVI MAINTAINS A DATABASE OF SPATIAL AND INFORMATIONAL DATA SETS, AVAILABLE FOR PUBLIC USE ON MOST NETWORKED COMPUTERS ON THE BROOKLYN CAMPUS. PRATT CENTER FOR COMMUNITY DEVELOPMENT: ESTABLISHED IN 1963, THE CENTER WORKS FOR A MORE SUSTAINABLE AND EQUITABLE CITY IN PARTNERSHIP WITH COMMUNITY-BASED ORGANIZATIONS, SMALL BUSINESSES, AND POLICYMAKERS.


ACADEMIC SUPPORT: THE INSTITUTE PROVIDES FINANCIAL SUPPORT IN THE FORM OF SCHOLARSHIPS TO OVER 80% OF STUDENTS. THIS ASSISTANCE IS VITAL TO FOSTERING THE UNIQUE ABILITIES OF THE TALENTED INDIVIDUALS ENROLLED AT PRATT, THE MAJORITY OF WHOM WOULD OTHERWISE BE UNABLE TO BENEFIT FROM THE WORLD-CLASS, CUTTING EDGE EDUCATION THE INSTITUTE OFFERS. (SEE CONTINUATION IN SCHEDULE O)


AUXILIARY ENTERPRISES: THE INSTITUTE MANAGES AND MAINTAINS MULTIPLE RESIDENCE HALLS WHICH PROVIDE HOUSING FOR PRATT STUDENTS. AUXILIARY ENTERPRISES ALSO INCLUDE MANAGEMENT OF THE STUDENT MEAL PROGRAM AND ATHLETIC CENTER ACTIVITIES WHICH ARE PRIMARILY MAINTAINED FOR THE USE AND CONVENIENCE OF STUDENTS, FACULTY AND STAFF.


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Board, Officers & Key Employees

Name (title)Compensation
Frances Bronet
President And Trustee
$735,438
Farzam Yazdanseta
Act. Assoc. Chair (as Of 07/2021)
$111,585
Maria Sieira
Faculty Trustee (as Of 07/2021)
$73,986
Richard A Sarrach
Faculty Trustee (thru 06/30/2022)
$173,569
Donna Moran
Faculty Trustee (thru 06/30/2022)
$106,510
Chanice Hughes-Greenberg
Rec. Grad Trustee (thru 06/30/2022)
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Allied Universal Security Services
Security
$2,105,804
King Rose Construction
Construction
$1,071,742
Shr Group Inc
Construction
$515,610
Cullen And Dykman Llp
Legal
$439,457
Alarmingly Affordable Inc
Security
$425,942
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$294,283
Related organizations$0
Government grants $11,146,035
All other contributions, gifts, grants, and similar amounts not included above$7,961,791
Noncash contributions included in lines 1a–1f $700,644
Total Revenue from Contributions, Gifts, Grants & Similar$19,402,109
Total Program Service Revenue$291,995,892
Investment income $3,911,727
Tax Exempt Bond Proceeds $0
Royalties $36,010
Net Rental Income $394,267
Net Gain/Loss on Asset Sales $10,127,038
Net Income from Fundraising Events -$64,651
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $327,213,974

Peer Organizations

Organization NameAssets
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Bronx, NY
$953,892,663
Rochester Institute Of Technology
Rochester, NY
$1,071,324,345
St Johns University New York
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$798,473,536
Villanova University
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$781,809,892
Lehigh University
Bethlehem, PA
$695,392,244
Rockefeller University
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$535,346,959
Rensselaer Polytechnic Institute
Troy, NY
$616,594,821
The New School
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$468,399,427
Hofstra University
Hempstead, NY
$606,887,297
Seton Hall University
South Orange, NJ
$526,525,000
American University Of Beirut
New York, NY
$608,300,843
Quinnipiac University
Hamden, CT
$533,471,085
Brandeis University
Waltham, MA
$399,602,478
Duquesne University Of The Holy Spirit
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$444,411,178
Bar Ilan University In Israel
New York, NY
$478,485,822
The Trustees Of The Stevens Institute Of Technology
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$466,449,861
Sacred Heart University
Fairfield, CT
$476,875,710
Worcester Polytechnic Institute
Worcester, MA
$398,152,961
Long Island University
Brookville, NY
$438,322,403
President & Fellows Of Middlebury College
Middlebury, VT
$387,918,222
Suffolk University
Boston, MA
$381,571,833
Yeshiva University
New York, NY
$354,803,319
Bucknell University
Lewisburg, PA
$288,902,813
Fairfield University
Fairfield, CT
$341,786,596
University Of New Haven
West Haven, CT
$344,725,446

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