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 06/2021, Pratt Institute employed 3,633 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 06/2021, Pratt Institute generated $241.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $246.6m during the year ending 06/2021. While expenses have increased by 1.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
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 A COEDUCATIONAL PRIVATE INSTITUTION CHARTERED AND EMPOWERED TO CONFER ACADEMIC DEGREES BY THE BOARD OF REGENTS OF NYS. THE CERTIFICATES AND DEGREES CONFERRED ARE REGISTERED BY THE NYS DEPARTMENT OF EDUCATION. PRATT IS ACCREDITED BY THE COMMISSION ON HIGHER EDUCATION OF THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS. (SEE CONTINUATION IN SCHEDULE O)
ACADEMIC SUPPORT: INCLUDES ALL EXPENSES INCURRED IN SUPPORT OF ACADEMIC AND INSTRUCTIONAL PROGRAMS AS WELL AS RESEARCH, LIBRARY AND INFORMATION TECHNOLOGY SERVICES. PRATT LIBRARIES PROVIDE OUTSTANDING SERVICES AND ACCESS TO A RESOURCE-RICH ENVIRONMENT THAT FACILITATES CRITICAL THINKING AND CREATIVE TEACHING AND LEARNING IN THE PRATT COMMUNITY. PRATT ALSO OFFERS ONGOING SUPPORT AND INITIATIVES THROUGH THE WRITING AND TUTORIAL CENTER, INTENSIVE ENGLISH PROGRAM AND WRITING ACROSS THE CURRICULUM. (SEE CONTINUATION IN SCHEDULE O)
AUXILIARY ENTERPRISES: THE RESIDENTIAL LIFE AND STUDENT HOUSING EXPENDITURES ARE REPORTED UNDER AUXILIARY ENTERPRISES. ITS MISSION IS TO EFFICIENTLY AND EFFECTIVELY ADMINISTER A HOUSING PROGRAM IN A LEARNING CENTERED ENVIRONMENT THAT CHALLENGES AND SUPPORTS STUDENTS TO 1) ENHANCE SELF-UNDERSTANDING 2) VALUE COMMUNITY RESPONSIBILITY AND 3) LEARN FROM THEIR EXPERIENCES. THE POLICIES, PROCEDURES AND PROGRAMS ESTABLISHED AND ENCOURAGED BY RESIDENTIAL LIFE ARE THOSE WHICH ENHANCE STUDENT LEARNING AND INVOLVEMENT OUTSIDE THE CLASSROOM. (SEE CONTINUATION IN SCHEDULE O)
STUDENT SERVICES:INCLUDES EXPENSES INCURRED FOR STUDENTS' ACTIVITIES AND EVENTS BY THE FOLLOWING STUDENT SUPPORT SERVICES DEPARTMENTS: ADMISSIONS, REGISTRAR, BURSAR, FINANCIAL AID, ATHLETICS, INTERNATIONAL AFFAIRS, HEALTH & COUNSELING, CAREER SERVICES AND OTHER STUDENT SERVICES DEPARTMENTS. 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 THE CHALLENGES OF THE PRATT EXPERIENCES. THE OFFICE OF INTERNATIONAL AFFAIRS PROVIDES SERVICES TO INTERNATIONAL STUDENTS FROM OVER 75 COUNTRIES AS WELL AS J1 EXCHANGE VISITORS, EXCHANGE STUDENTS, PROFESSORS AND SCHOLARS. THIS OFFICE IS RESPONSIBLE TO ENSURE PRATT'S COMPLIANCE WITH THE DEPARTMENT OF HOMELAND SECURITY AND DEPARTMENT OF STATE.INSTITUTIONAL SUPPORT:INCLUDES EXPENDITURES PRIMARILY INCURRED BY THE SECURITY OFFICE, STRATEGIC PLANNING, OFFICE OF INSTITUTIONAL RESEARCH INFORMATION TECHNOLOGY, ACADEMIC MARKETING, FINANCE, SUSTAINABILITY AND OTHER PROGRAM SERVICES RELATED GENERAL INSTITUTE EXPENSES.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 PROJECTS, ETC.FY20/21 THE 14TH STREET CAMPUS RENOVATION IN MANHATTAN CONTINUED IN FY20/21. INCLUDES THE INCREASE IN CLASS ROOMS, EXPANSION OF GALLERY SPACE AND THE UPGRADE OF THE LOBBY SPACE TO THE INSTITUTE. UPGRADED A NUMBER OF THE ELEVATORS ON CAMPUS AND CONTINUED TO UPGRADE THE ROOFS OF THE VARIOUS BUILDINGS. IN THE DESIGN PHASE TO REPLACE THE LOW PRESSURE STEAM PLANT. STARTED THE PROJECT TO CONVERT MYRTLE HALL 3RD FLOOR EAST TO AN EDUCATIONAL SPACE TO ACCOMMODATE THE DEVELOPING GAMING ARTS BFA PROGRAM UNDER THE DEPARTMENT OF DIGITAL ARTS. PUBLIC SERVICE:IN VIEW OF PRATT'S MISSION TO EDUCATE ARTISTS AND CREATIVE PROFESSIONALS TO BE RESPONSIBLE CONTRIBUTORS TO SOCIETY, PRATT 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.PRATT'S DEPARTMENT OF ART AND DESIGN EDUCATION OFFERS A VARIETY OF PROGRAMS FOR THE COMMUNITY. IT PROVIDES OPPORTUNITIES FOR ARTISTS AND DESIGNERS OF ALL AGES TO RECOGNIZE PRATT INSTITUTE OFFERS A NUMBER OF PROGRAMS, CENTERS AND INITIATIVES THAT BENEFIT THE PUBLIC ANDCOMMUNITIES. A NUMBER OF THEM ARE LISTED BELOW.THE ART EDUCATION PROGRAM:PRATT'S DEPARTMENT OF ART AND DESIGN EDUCATION OFFERS A VARIETY OF PROGRAMS FOR THE COMMUNITY. IT PROVIDES OPPORTUNITIES FOR ARTISTS AND DESIGNERS OF ALL AGES TO RECOGNIZE AND DEVELOP THEIR CREATIVE POTENTIAL. CLASSES ARE HELD ON PRATT'S CAMPUS WHERE PARTICIPANTS LEARN IN A COLLEGE ENVIRONMENT. THESE PROGRAMS PREPARE PRATT STUDENTS STUDYING ART & DESIGN EDUCATION TO WORK AS TEACHERS AND ARTISTS WHILE SIMULTANEOUSLY BRINGING ART AND DESIGN CLASSES TO THE COMMUNITY. FEATURED PROGRAMS ARE DESIGN INITIATIVE FOR COMMUNITY EMPOWERMENT (DICE), PRATT YOUNG SCHOLARS, SATURDAY ART SCHOOL, AND SUMMER DESIGN.THE SPATIAL ANALYSIS AND VISUALIZATION INITIATIVE (SAVI):SAVI AT PRATT INSTITUTE IS A GEOGRAPHIC INFORMATION SYSTEMS (GIS)-CENTERED INITIATIVE THAT PROVIDES STUDENTS AND FACULTY ACROSS DISCIPLINES ACCESS TO GIS AND VISUALIZATION RESOURCES. SAVI IS DEDICATED TO PRATT'S COMMITMENT TO BENEFIT THE GREATER COMMUNITY AND PROVIDES SERVICES AND GIS TECHNICAL ASSISTANCE TO NEW YORK CITY-BASED NONPROFIT, CIVIC, AND COMMUNITY-BASED PLANNING ORGANIZATIONS, AND OFFERS A GIS AND DESIGN CERTIFICATE PROGRAM THROUGH THE SCHOOL OF CONTINUING AND PROFESSIONAL STUDIES. SAVI MAINTAINS A DATABASE OF SPATIAL AND INFORMATIONAL DATA SETS, AVAILABLE FOR PUBLIC USE ON MOST NETWORKED COMPUTERS AT THE PRATT BROOKLYN CAMPUS.PRATT CENTER FOR COMMUNITY DEVELOPMENT:ESTABLISHED IN 1963, THE CENTER WORKS FOR A MORE SUSTAINABLE AND EQUITABLE NEW YORK CITY IN PARTNERSHIP WITH COMMUNITY-BASED ORGANIZATIONS, SMALL BUSINESSES, AND POLICYMAKERS. AS PART OF PRATT INSTITUTE, WE USE URBAN PLANNING, ARCHITECTURE, AND PUBLIC POLICY TO SUPPORT COMMUNITY-BASED ORGANIZATIONS IN THEIR EFFORTS TO IMPROVE QUALITY OF LIFE, CREATE ECONOMIC OPPORTUNITY, AND ADVANCE SUSTAINABLE DEVELOPMENT. OUR WORK IS GROUNDED IN FOUR CORE VALUES: EQUITY, SUSTAINABILITY, LOCAL KNOWLEDGE, AND DIVERSE ECONOMY. BELOW ARE THREE MAJOR GRANT PROJECTS THAT PRATT CENTER EXCHANGED IN FOR THE FISCAL YEAR:CONSORTIUM FOR RESEARCH AND ROBOTICS:THE CENTER IS A NEW MODEL FOR COLLABORATION, COMPETITION AND CREATIVITY WITH NEW YORK CITY'S LARGEST INDUSTRIAL ROBOT. OFFERING UNIQUE FACILITIES, LOCATION, PROFESSIONAL AND ACADEMIC NETWORKS, AND VARIOUS OTHER RESOURCES.BELOW IS A BRIEF DESCRIPTION OF A FEW EXAMPLES OF THE MAJOR PROGRAM AND PROJECT ACCOMPLISHMENTS FOR PRATT RELATED TO EXTERNAL FUNDER AWARDS IN FY20/21:- THE NYS DORMITORY AUTHORITY'S HIGHER EDUCATION CAPITAL MATCHING GRANT PROGRAM (HECAP) AWARDED PRATT INSTITUTE $794,333 IN CAPITAL FUNDS TO HELP RENOVATE APPROXIMATELY 21K SQ FT OF SPACE IN THE BROOKLYN NAVY YARD (BNY). WITH THESE CAPITAL FUNDS, PRATT SEEKS TO CREATE A NEW RESEARCH FACILITY, THE PRATT RESEARCH YARD, IN PARTNERSHIP WITH THE BNY AND SHARED WITH THE COMMUNITY OF NAVY YARD INDUSTRY LEADERS. - THE NYC HOUSING AUTHORITY (NYCHA) AWARDED THE PRATT CENTER FOR COMMUNITY DEVELOPMENT WITH A $400,000 CONTRACT TO WORK ON AN 18-MONTH PROJECT TO ENGAGE STAKEHOLDERS AND TO PROVIDE TECHNICAL ASSISTANCE REGARDING NYCHA'S CLIMATE ADAPTATION PLANNING. - PRATT INSTITUTE'S SCHOOL OF INFORMATION, IN PARTNERSHIP WITH THE MATH AND SCIENCE DEPARTMENT, WAS AWARDED A $299,995 GRANT THROUGH THE NATIONAL SCIENCE FOUNDATION TO LAUNCH A PILOT PROJECT TO ADDRESS THE GROWING NEED FOR A DATA LITERATE CITIZENRY WITHIN YOUNG PEOPLE. THE PROJECT WILL USE PUBLIC LIBRARIES TO PROVIDE SUPPORT AND FOSTER THE DEVELOPMENT OF THE SKILLS AND KNOWLEDGE IN ORDER FOR YOUNG PEOPLE TO TAKE CHARGE OF THEIR DATA LIVES, FROM DATA CREATION TO DATA USE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Frances Bronet President And Trustee | OfficerTrustee | 35 | $625,304 |
Kirk E Pillow Provost | Officer | 35 | $360,151 |
Cathleen M Kenny VP For Finance And Administration | Officer | 35 | $326,406 |
Daphne R Halpern VP Of Institutional Advancement | 35 | $319,560 | |
Harriet Harriss Dean Of School Of Architechture | 35 | $249,709 | |
Joseph M Hemway VP Of It And Cio | 35 | $245,123 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
King Rose Of Ny Inc Construction | 6/29/21 | $2,438,262 |
Safe Environment Business Solution Security | 6/29/21 | $1,612,035 |
Tishman Construction Construction | 6/29/21 | $1,044,507 |
Schindler Elevator Corp Elevator Service | 6/29/21 | $1,116,475 |
Shawmut Design And Construction Construction | 6/29/21 | $1,303,455 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $207,513 |
Related organizations | $0 |
Government grants | $6,721,729 |
All other contributions, gifts, grants, and similar amounts not included above | $7,167,172 |
Noncash contributions included in lines 1a–1f | $60,574 |
Total Revenue from Contributions, Gifts, Grants & Similar | $14,096,414 |
Total Program Service Revenue | $209,628,118 |
Investment income | $6,393,032 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $27,781 |
Net Rental Income | $308,264 |
Net Gain/Loss on Asset Sales | $10,274,447 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $241,236,103 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $61,837,599 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,753,401 |
Compensation of current officers, directors, key employees. | $352,421 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $95,106,846 |
Pension plan accruals and contributions | $2,643,455 |
Other employee benefits | $21,844,600 |
Payroll taxes | $6,715,325 |
Fees for services: Management | $0 |
Fees for services: Legal | $469,622 |
Fees for services: Accounting | $297,126 |
Fees for services: Lobbying | $157,717 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $1,130,152 |
Fees for services: Other | $10,016,665 |
Advertising and promotion | $2,309,821 |
Office expenses | $9,767,087 |
Information technology | $1,244,084 |
Royalties | $0 |
Occupancy | $4,082,333 |
Travel | $49,470 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $44,722 |
Interest | $4,729,358 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $13,101,394 |
Insurance | $1,708,072 |
All other expenses | $1,019,037 |
Total functional expenses | $246,568,890 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $62,845,395 |
Savings and temporary cash investments | $14,454,523 |
Pledges and grants receivable | $5,196,768 |
Accounts receivable, net | $3,080,181 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $9,062,455 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $1,630,719 |
Net Land, buildings, and equipment | $310,605,799 |
Investments—publicly traded securities | $280,782,979 |
Investments—other securities | $64,226,270 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,142,127 |
Total assets | $755,027,216 |
Accounts payable and accrued expenses | $23,837,447 |
Grants payable | $0 |
Deferred revenue | $10,091,082 |
Tax-exempt bond liabilities | $54,177,306 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $75,870,359 |
Unsecured mortgages and notes payable | $10,245,479 |
Other liabilities | $36,775,916 |
Total liabilities | $210,997,589 |
Net assets without donor restrictions | $417,922,849 |
Net assets with donor restrictions | $126,106,778 |
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 | $755,027,216 |
Over the last fiscal year, we have identified 2 grants that Pratt Institute has recieved totaling $7,250.
Awarding Organization | Amount |
---|---|
De La Cour Family Foundation Glen Cove, NY PURPOSE: TO HELP FUND THE RECIPIENTS OPERATING BUDGET | $7,000 |
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO GENERAL FUND | $250 |
Beg. Balance | $213,394,218 |
Earnings | $64,324,393 |
Net Contributions | $2,266,902 |
Grants | $3,325,064 |
Ending Balance | $276,660,449 |
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 |
Villanova University Villanova, PA | $2,287,455,797 | $872,271,471 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
Lehigh University Bethlehem, PA | $3,057,301,515 | $713,288,867 |
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 |
Seton Hall University South Orange, NJ | $890,349,000 | $473,034,000 |