Molloy University
- Assets
- $260.7m
- Revenue
- $165.0m
- Investments
- $3.2m
- Employees
- 2,081
- Location
- Rockville Centre, NY
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 11-1797182
Organization Overview
Molloy University 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 06/2022, Molloy University employed 2,081 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Molloy 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 06/2022, Molloy University generated $165.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $164.1m during the year ending 06/2022. While expenses have increased by 4.2% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MOLLOY IS AN INDEPENDENT CATHOLIC UNIVERSITY ROOTED IN THE DOMINICAN TRADITION OF STUDY.
Describe the Organization's Program Activity:
SEE SCHEDULE OFOUNDED IN 1955 BY THE DOMINICAN SISTERS OF AMITYVILLE, MOLLOY UNIVERSITY (THE "UNIVERSITY OR "MOLLOY") IS AN INDEPENDENT CATHOLIC UNIVERSITY, 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 UNIVERSITY OFFERS 109 UNDERGRADUATE DEGREES IN CAREER AREAS, PROFESSIONAL AREAS AND IN THE LIBERAL ARTS AND SCIENCES, AS WELL AS 66 MASTER'S DEGREES AND 3 DOCTORAL DEGREES, WITH 6 DNP NURSING TRACKS, THE MOST RECENT THE ED.D. IN EDUCATIONAL LEADERSHIP FOR DIVERSE LEARNING COMMUNITIES, ADDED IN 2015. THE UNIVERSITY 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 UNIVERSITY 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 UNIVERSITY 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 |
|---|---|---|---|
James P Lentini President | OfficerTrustee | 35 | $533,368 |
John P Mcentee Chairperson | OfficerTrustee | 1 | $0 |
Phillipa G Woodriffe Vice Chairperson | OfficerTrustee | 1 | $0 |
John J Bishar Jr Trustee | Trustee | 1 | $0 |
Sammy Chu Trustee | Trustee | 1 | $0 |
Rose L Ciampa Trustee (thru 11/2021) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cutlass Industrial Inc Construction/renovation | 6/29/22 | $2,368,643 |
Austin & Williams Inc Media Services | 6/29/22 | $2,264,640 |
Lessing's Food Serv Mgmt Food Services | 6/29/22 | $1,125,358 |
Assessment Technologies Institute Proctoring Services | 6/29/22 | $746,358 |
Axis Construction Corp Construction/renovation | 6/29/22 | $555,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $286,688 |
| Related organizations | $0 |
| Government grants | $13,611,156 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,715,439 |
| Noncash contributions included in lines 1a–1f | $35,187 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,613,283 |
| Total Program Service Revenue | $145,957,857 |
| Investment income | $1,590,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,973 |
| Net Rental Income | $27,468 |
| Net Gain/Loss on Asset Sales | -$379,207 |
| Net Income from Fundraising Events | $47,334 |
| Net Income from Gaming Activities | $80,753 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $164,978,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,370 |
| Grants and other assistance to domestic individuals. | $38,655,040 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,913,424 |
| Compensation of current officers, directors, key employees. | $261,720 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,002,096 |
| Pension plan accruals and contributions | $2,292,446 |
| Other employee benefits | $11,883,515 |
| Payroll taxes | $4,963,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $420,553 |
| Fees for services: Accounting | $246,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $353,935 |
| Fees for services: Other | $6,341,047 |
| Advertising and promotion | $3,748,517 |
| Office expenses | $1,744,875 |
| Information technology | $2,442,507 |
| Royalties | $0 |
| Occupancy | $4,496,923 |
| Travel | $808,838 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,009,726 |
| Interest | $4,117,284 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,465,339 |
| Insurance | $945,618 |
| All other expenses | $3,616,611 |
| Total functional expenses | $164,146,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,754,082 |
| Savings and temporary cash investments | $41,831,277 |
| Pledges and grants receivable | $5,513,302 |
| Accounts receivable, net | $2,369,038 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,823,329 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,461,496 |
| Net Land, buildings, and equipment | $131,491,888 |
| Investments—publicly traded securities | $41,712,900 |
| Investments—other securities | $3,213,858 |
| Investments—program-related | $0 |
| Intangible assets | $131,250 |
| Other assets | $24,379,471 |
| Total assets | $260,681,891 |
| Accounts payable and accrued expenses | $13,146,619 |
| Grants payable | $1,563,009 |
| Deferred revenue | $3,679,070 |
| Tax-exempt bond liabilities | $85,658,103 |
| Escrow or custodial account liability | $3,109,185 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $154,770 |
| Other liabilities | $27,540,347 |
| Total liabilities | $134,851,103 |
| Net assets without donor restrictions | $114,774,241 |
| Net assets with donor restrictions | $11,056,547 |
| 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 | $260,681,891 |