Molloy College
- Assets
- $237.2m
- Revenue
- $161.1m
- Investments
- $6.1m
- Employees
- 2,187
- Location
- Rockville Centre, NY
- Founding
- 03/1946
- Data as of
- 06/2020
- EIN
- 11-1797182
Organization Overview
Molloy College is located in Rockville Centre, NY. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Molloy College employed 2,187 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Molloy College 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 06/2020, Molloy College generated $161.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $154.5m during the year ending 06/2020. While expenses have increased by 3.8% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
MOLLOY COLLEGE IS AN INDEPENDENT CATHOLIC COLLEGE ROOTED IN THE DOMINICAN TRADITION OF STUDY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OFOUNDED IN 1955 BY THE DOMINICAN SISTERS OF AMITYVILLE, MOLLOY COLLEGE (THE "COLLEGE OR "MOLLOY") IS AN INDEPENDENT CATHOLIC COLLEGE, ROOTED IN THE DOMINICAN TRADITION OF STUDY, SPIRITUALITY, SERVICE, AND COMMUNITY, AND COMMITTED TO ACADEMIC EXCELLENCE WITH RESPECT FOR EACH PERSON. THROUGH TRANSFORMATIVE EDUCATION, MOLLOY PROMOTES A LIFELONG SEARCH FOR TRUTH AND THE DEVELOPMENT OF ETHICAL LEADERSHIP. WITH NEARLY 5,000 STUDENTS, MOLLOY COLLEGE OFFERS 107 UNDERGRADUATE DEGREES IN CAREER AREAS, PROFESSIONAL AREAS AND IN THE LIBERAL ARTS AND SCIENCES, AS WELL AS 58 MASTER'S DEGREES AND 3 DOCTORAL DEGREES, THE MOST RECENT THE ED.D. IN EDUCATIONAL LEADERSHIP FOR DIVERSE LEARNING COMMUNITIES, ADDED IN 2015. THE COLLEGE PROVIDES A STUDENT-CENTERED LEARNING EXPERIENCE WHICH ENHANCES THE INTELLECTUAL, ETHICAL, SPIRITUAL AND SOCIAL DEVELOPMENT OF EVERY STUDENT, AND STRIVES TO ENHANCE THE QUALITY OF ITS ACADEMIC PROGRAMS, FACULTY, AND TEACHING LEARNING ENVIRONMENT. THE COLLEGE CONTINUES TO IDENTIFY, RECRUIT AND EDUCATE STUDENTS WHO DEMONSTRATE LEADERSHIP QUALITIES, UNDERSTAND THE NEED FOR CIVIC ENGAGEMENT AND ASPIRE TO SERVE THE COMMUNITY. LOCATED IN ROCKVILLE CENTRE, NY, THE COLLEGE IS A DYNAMIC LEARNING INSTITUTION WITH OUTSTANDING FACULTY, STATE-OF-THE-ART-TECHNOLOGY AND DISTINGUISHED ACADEMIC PROGRAMS. NOTABLY, MOLLOY'S NURSING PROGRAM IS AMONG THE LARGEST NURSING PROGRAMS IN THE NORTHEAST REGION AND IN THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Bogner President Emeritus | Officer | 35 | $794,738 |
Ann Branchini Vice President Academic Affairs | Officer | 35 | $292,384 |
Susan D Williams Vice President Finance And Treasurer | Officer | 35 | $279,159 |
James P Lentini President | OfficerTrustee | 35 | $266,245 |
Edward J Thompson Vice President Office Of Advancement | Officer | 35 | $264,964 |
Marcia Gardner Dean Of Nursing | 35 | $248,306 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Austin & Williams Inc Media Services | 6/29/21 | $2,570,245 |
Mitchell Architectural Group Architectural Services | 6/29/21 | $1,352,946 |
Siemens Industry Inc Construction Services | 6/29/21 | $1,233,169 |
Cutlass Industrial Inc Construction/renovation | 6/29/21 | $938,651 |
Lessing's Food Serv Mgmt Food Services | 6/29/21 | $993,563 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,150,247 |
| Investment income | $1,522,394 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $10,745 |
| Net Rental Income | $135,545 |
| Net Gain/Loss on Asset Sales | $136,885 |
| Net Income from Fundraising Events | $94,353 |
| Net Income from Gaming Activities | $87,511 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $161,091,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $31,800,381 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,512,549 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,297,188 |
| Pension plan accruals and contributions | $3,617,043 |
| Other employee benefits | $13,597,338 |
| Payroll taxes | $4,337,741 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $529,984 |
| Fees for services: Accounting | $109,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $329,175 |
| Fees for services: Other | $845,122 |
| Advertising and promotion | $2,917,679 |
| Office expenses | $1,233,731 |
| Information technology | $2,005,395 |
| Royalties | $0 |
| Occupancy | $3,169,790 |
| Travel | $795,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $288,708 |
| Interest | $3,605,843 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,944,108 |
| Insurance | $1,598,836 |
| All other expenses | $0 |
| Total functional expenses | $154,510,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,223,686 |
| Savings and temporary cash investments | $35,001,174 |
| Pledges and grants receivable | $4,628,905 |
| Accounts receivable, net | $3,168,622 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,809,858 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,327,860 |
| Investments—publicly traded securities | $38,904,943 |
| Investments—other securities | $6,096,676 |
| Investments—program-related | $0 |
| Intangible assets | $291,750 |
| Other assets | $5,840,175 |
| Total assets | $237,160,877 |
| Accounts payable and accrued expenses | $12,972,597 |
| Grants payable | $1,945,366 |
| Deferred revenue | $4,450,265 |
| Tax-exempt bond liabilities | $90,891,694 |
| Escrow or custodial account liability | $3,140,711 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $186,988 |
| Other liabilities | $4,674,614 |
| Total liabilities | $118,262,235 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $118,898,642 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Molloy College has recieved totaling $1,747,518.
| Awarding Organization | Amount |
|---|---|
Mother Cabrini Health Foundation New York, NY PURPOSE: INCREASING ACCESS TO HEALTH SERVICES FOR VULNERABLE UNDERSERVED POPULATIONS | $1,050,000 |
Lavelle Fund For The Blind Inc New York, NY PURPOSE: SCH2014-8: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $315,818 |
Lavelle Fund For The Blind Inc New York, NY PURPOSE: SCH2019-9: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 4, JULY 2019 - JUNE 2024 | $150,000 |
The Posse Foundation Inc New York, NY PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $100,000 |
Rauch Foundation Inc Woodstock, VT PURPOSE: LEADERSHIP GRANT | $38,000 |
National Grid Foundation Hicksville, NY PURPOSE: NATIONAL GRID FOUNDATION TEACHING GREEN INSTITUTE 2021 | $30,000 |
Endowment Analysis
| Beg. Balance | $43,648,437 |
| Earnings | $8,374,430 |
| Net Contributions | $732,083 |
| Grants | $202,507 |
| Ending Balance | $52,552,443 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |