Hofstra University
- Assets
- $1.5b
- Revenue
- $606.9m
- Investments
- $383.2m
- Employees
- 5,636
- 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 08/2021, Hofstra University employed 5,636 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 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $537.8m during the year ending 08/2021. While expenses have increased by 1.3% 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.
Since 2016, Hofstra University has awarded 13 individual grants totaling $269,981. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSTITUTION OF HIGHER LEARNING
Describe the Organization's Program Activity:
INSTRUCTION AND RELATED ACADEMIC SUPPORT, INCLUDING RESEARCH AND PUBLIC SERVICES, SPONSORED PROGRAMS, SCHOLARSHIPS, FELLOWSHIPS AND OTHER EXPENSES BENEFITING THE COMMUNITY. (FALL 2020 FULL-TIME EQUIVALENTS OF 9,632)
AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS AND FOOD SERVICE. (APPROXIMATELY 1,910 STUDENTS IN RESIDENCE HALLS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stuart Rabinowitz President (see Sch J Notes) | OfficerTrustee | 60 | $1,437,454 |
Lawrence Smith Dean, School Of Medicine | 60 | $689,840 | |
Catherine Hennessy SVP For Finance & Treasurer | Officer | 60 | $545,860 |
M Patricia Adamski Sr VP For Plan & Adm | Officer | 60 | $515,231 |
Dolores Fredrich SVP For Legal Affairs | Officer | 60 | $494,506 |
Joseph Mihalich Mens Basketball Coach | 60 | $489,236 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Inc Campus Food Provider | 8/30/21 | $6,715,703 |
Axis Construction Corp Construction | 8/30/21 | $11,070,796 |
Eab Global Inc Student Marketing | 8/30/21 | $4,286,819 |
Structure Tone Llc Construction | 8/30/21 | $1,634,444 |
Hlw International Llp Construction | 8/30/21 | $1,353,382 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,755,974 |
| Related organizations | $0 |
| Government grants | $21,909,844 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,694,902 |
| Noncash contributions included in lines 1a–1f | $1,043,415 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,360,720 |
| Total Program Service Revenue | $511,005,419 |
| 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 organizations and domestic governments. | $40,000 |
| 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 of current officers, directors, key employees. | $6,762,999 |
| 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 | $1,704,596 |
| 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 |
| Net Land, buildings, and equipment | $308,856,356 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,538,245,078 |
Grants Awarded
Over the last fiscal year, Hofstra University has awarded $77,667 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
VILLAGE OF HEMPSTEAD PURPOSE: Contribution | $40,000 |
Hempstead, NY PURPOSE: Contribution | $20,000 |
Kennesaw, GA PURPOSE: Contribution | $11,990 |
EAST WILLISTON FIRE DEPARTMENT PURPOSE: Contribution | $5,677 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hofstra University has recieved totaling $36,000.
| Awarding Organization | Amount |
|---|---|
Yale Art Trust New York, NY PURPOSE: EDUCATIONAL | $25,000 |
Mary D Coles Foundation Dallas, TX PURPOSE: SCHOLARSHIPS | $10,000 |
Decker Weiss Family Foundation Inc Stamford, CT PURPOSE: GENERAL | $1,000 |
Endowment Analysis
| Beg. Balance | $682,366,337 |
| Earnings | $163,958,813 |
| Admin Expense | $5,738,417 |
| Net Contributions | $83,019,727 |
| Other Expense | $9,713,591 |
| Grants | $19,566,548 |
| Ending Balance | $894,326,321 |
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 |
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 |