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 06/2021, 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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
King Rose Of Ny Inc
Construction
$2,438,262
Safe Environment Business Solution
Security
$1,612,035
Tishman Construction
Construction
$1,044,507
Schindler Elevator Corp
Elevator Service
$1,116,475
Shawmut Design And Construction
Construction
$1,303,455
View All Vendors

Financial Statements

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

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Pratt Institute has recieved totaling $7,250.

Awarding OrganizationAmount
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
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$213,394,218
Earnings$64,324,393
Net Contributions$2,266,902
Grants$3,325,064
Ending Balance$276,660,449

Peer Organizations

Organization NameAssets
Fordham University
Bronx, NY
$953,892,663
Rochester Institute Of Technology
Rochester, NY
$1,071,324,345
St Johns University New York
Jamaica, NY
$798,473,536
Villanova University
Villanova, PA
$872,271,471
Rensselaer Polytechnic Institute
Troy, NY
$653,047,178
Rockefeller University
New York, NY
$535,346,959
Lehigh University
Bethlehem, PA
$713,288,867
The New School
New York, NY
$558,997,855
Hofstra University
Hempstead, NY
$606,887,297
American University Of Beirut
New York, NY
$608,300,843
Quinnipiac University
Hamden, CT
$531,949,834
Seton Hall University
South Orange, NJ
$473,034,000

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