Hofstra University
- Assets
- $1.5b
- Revenue
- $606.9m
- Investments
- $383.2m
- Employees
- 5,677
- Location
- Hempstead, NY
- Founding
- 12/1942
- Data as of
- 08/2021
- EIN
- 11-1630906
Organization Overview
Hofstra University is located in Hempstead, NY. The organization was established in 1942. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 08/2023, Hofstra University employed 5,677 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hofstra 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 08/2021, Hofstra University generated $606.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $537.8m during the year ending 08/2021. While expenses have increased by 1.1% 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.
Since 2016, Hofstra University has awarded 15 individual grants totaling $329,828. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSTITUTION OF HIGHER LEARNING
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND RELATED ACADEMIC SUPPORT, INCLUDING RESEARCH AND PUBLIC SERVICES, SPONSORED PROGRAMS, SCHOLARSHIPS, FELLOWSHIPS AND OTHER EXPENSES BENEFITING THE COMMUNITY. (FALL 2022 FULL-TIME EQUIVALENTS OF 9,487)
AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS AND FOOD SERVICE. (APPROXIMATELY 2,582 STUDENTS IN RESIDENCE HALLS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Poser President | OfficerTrustee | 60 | $1,015,011 |
Catherine Hennessy SVP Finance/treasurer | Officer | 60 | $739,174 |
Herman Berliner Former Provost/svp To 7/2021 | 60 | $464,924 | |
Dolores Fredrich Fmr SVP Legal Affairs To 12/21 | 60 | $525,625 | |
Alan Kelly VP For Development | Officer | 60 | $498,442 |
M Patricia Adamski Former SVP Pln/adm To 8/21 | 60 | $510,257 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Structure Tone Llc Construction | 8/30/23 | $25,167,393 |
Compass Group Usa Inc Campus Food Provider | 8/30/23 | $12,660,605 |
Hlw International Llp Architect / Engineer | 8/30/23 | $1,070,951 |
Matco Service Corp Hvac Services | 8/30/23 | $812,234 |
Vtc Bus Corp Bus Transportation | 8/30/23 | $768,650 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,360,720 |
| Investment income | $12,282,555 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $288,791 |
| Net Gain/Loss on Asset Sales | $38,330,591 |
| Net Income from Fundraising Events | -$382,591 |
| Net Income from Gaming Activities | $1,812 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $606,887,297 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $173,769,513 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,880,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $182,812,464 |
| Pension plan accruals and contributions | $16,736,584 |
| Other employee benefits | $38,084,993 |
| Payroll taxes | $12,680,136 |
| Fees for services: Management | $6,065,168 |
| Fees for services: Legal | $426,653 |
| Fees for services: Accounting | $315,981 |
| Fees for services: Lobbying | $41,438 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,821,724 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,234,546 |
| Office expenses | $18,024,117 |
| Information technology | $6,210,220 |
| Royalties | $0 |
| Occupancy | $11,568,161 |
| Travel | $5,379,261 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,720 |
| Interest | $7,627,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,916,771 |
| Insurance | $4,995,554 |
| All other expenses | $0 |
| Total functional expenses | $537,791,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $197,111,686 |
| Pledges and grants receivable | $11,766,539 |
| Accounts receivable, net | $5,891,433 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,053,113 |
| Inventories for sale or use | $833 |
| Prepaid expenses and deferred charges | $7,001,520 |
| Investments—publicly traded securities | $541,817,721 |
| Investments—other securities | $383,185,429 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,560,448 |
| Total assets | $1,538,245,078 |
| Accounts payable and accrued expenses | $32,015,925 |
| Grants payable | $0 |
| Deferred revenue | $122,261,374 |
| Tax-exempt bond liabilities | $221,697,230 |
| Escrow or custodial account liability | $2,060,241 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,933,738 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,122,952 |
| Total liabilities | $424,091,460 |
| Net assets without donor restrictions | $681,458,320 |
| Net assets with donor restrictions | $432,695,298 |
| 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 | $1,114,153,618 |
Grants Awarded
Over the last fiscal year, Hofstra University has awarded $77,667 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: Contribution | $11,990 |
VILLAGE OF HEMPSTEAD PURPOSE: Contribution | $40,000 |
EAST WILLISTON FIRE DEPARTMENT PURPOSE: Contribution | $5,677 |
CENTRAL AMERICAN REFUGEE CENTER PURPOSE: Contribution | $20,000 |