Marymount Manhattan College
- Assets
- $162.4m
- Revenue
- $101.0m
- Investments
- $0.0
- Employees
- 1,001
- Location
- New York, NY
- Founding
- 06/1962
- Data as of
- 06/2022
- EIN
- 13-1628206
Organization Overview
Marymount Manhattan College is located in New York, NY. The organization was established in 1962. 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, Marymount Manhattan College employed 1,001 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marymount Manhattan 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 06/2022, Marymount Manhattan College generated $101.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $87.8m during the year ending 06/2022. While expenses have increased by 3.0% 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
MARYMOUNT MANHATTAN COLLEGE IS AN URBAN, INDEPENDENT, LIBERAL ARTS COLLEGE (SEE SCHEDULE O).
Describe the Organization's Program Activity:
INSTITUTIONAL PROGRAM ACTIVITIES: OFFERING ASSISTANCE TO STUDENTS IN NEED IS ESSENTIAL TO ACHIEVE THE COLLEGE'S GOAL TO SERVE A SOCIALLY AND ECONOMICALLY DIVERSE STUDENT BODY. MMC CURRENTLY EDUCATES OVER 1,770 FULL- AND PART-TIME STUDENTS REPRESENTING 46 STATES AND 13 COUNTRIES. APPROXIMATELY 40.6% OF OUR STUDENTS ARE MINORITIES, AND 12.4% ARE DEGREE-SEEKING RETURNING ADULTS. MMC STUDENTS CAN PURSUE DEGREES IN 36 MAJOR PROGRAMS OF STUDY, CHOOSE FROM AMONG 45 MINORS AND PRE-PROFESSIONAL PROGRAMS, HOLD INTERNSHIPS AT RENOWNED NEW YORK CITY COMPANIES, ENGAGE IN SOPHISTICATED RESEARCH PROJECTS, STUDY ABROAD, AND PARTICIPATE IN SERVICE-LEARNING OPPORTUNITIES. SEE SCHEDULE O.
AUXILIARY SERVICES: DURING FISCAL 2022, APPROXIMATELY 602 STUDENTS MADE THEIR HOME AT MMC. THE 55TH STREET RESIDENCE IS OWNED BY THE COLLEGE AND IS THE FIRST-YEAR RESIDENCE HALL. CONTINUING STUDENTS LIVE AT THE COOPER SQUARE RESIDENCE HALL. EACH HALL IS LOCATED WITHIN A 30 MINUTE COMMUTE OF THE COLLEGE AND STAFFED WITH 24-HOUR SECURITY. RESIDENCE DIRECTORS AND RESIDENT ADVISORS STRIVE TO CREATE A SENSE OF COMMUNITY BY PROVIDING EDUCATIONAL AND SOCIAL PROGRAMS. SEE SCHEDULE O.
ACADEMIC ACCESS: THE PROGRAM FOR ACADEMIC ACCESS ADDRESSES MANY FUNDAMENTAL PRINCIPLES OF MARYMOUNT MANHATTAN'S MISSION. IT IS A PROGRAM FOR STUDENTS WITH LEARNING DISABILITIES THAT ISSPECIFICALLY DESIGNED TO FOSTER ACADEMIC SUCCESS. THROUGH ACCOMMODATIONS AND MULTIFACETED SUPPORT, STUDENTS WITH LEARNING DIFFICULTIES ARE ABLE TO MANAGE THE MARYMOUNT MANHATTAN CURRICULUM ALONG WITH THEIR PEERS AND CLASSMATES. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kerry Walk President | OfficerTrustee | 35 | $374,549 |
Patricia A Agnello Trustee | Trustee | 1 | $0 |
Linda Basilice Hoerrner Trustee | Trustee | 1 | $0 |
Carol Berman Trustee | Trustee | 1 | $0 |
Valerie A Brown Trustee | Trustee | 1 | $0 |
Helen Demetrios Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shawmut Design And Construction Construction Mgmt Services | 6/29/22 | $9,070,628 |
231-235 East 55th Street Building Mgmt Services | 6/29/22 | $993,817 |
Champion Elevator Corp Elevator Maintenance | 6/29/22 | $372,147 |
Compass Group North America Food Services | 6/29/22 | $809,873 |
Dsk Dewing Schmid Kearns Architect Services | 6/29/22 | $361,311 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $43,315 |
| Related organizations | $0 |
| Government grants | $13,271,582 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,077,398 |
| Noncash contributions included in lines 1a–1f | $86,533 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,392,295 |
| Total Program Service Revenue | $72,207,752 |
| Investment income | $9,793,238 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$139,322 |
| Net Gain/Loss on Asset Sales | $539,797 |
| Net Income from Fundraising Events | -$17,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $50,328 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $101,014,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,233,652 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,565,874 |
| Compensation of current officers, directors, key employees. | $802,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,805,760 |
| Pension plan accruals and contributions | $1,933,617 |
| Other employee benefits | $3,371,510 |
| Payroll taxes | $1,954,857 |
| Fees for services: Management | $5,004,447 |
| Fees for services: Legal | $217,001 |
| Fees for services: Accounting | $239,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $88,567 |
| Fees for services: Other | $0 |
| Advertising and promotion | $968,631 |
| Office expenses | $659,491 |
| Information technology | $1,620,999 |
| Royalties | $0 |
| Occupancy | $1,948,217 |
| Travel | $105,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $421,993 |
| Interest | $2,802,031 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,369,105 |
| Insurance | $1,564,034 |
| All other expenses | $14,115 |
| Total functional expenses | $87,799,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,862,192 |
| Savings and temporary cash investments | $10,799,518 |
| Pledges and grants receivable | $7,471,263 |
| Accounts receivable, net | $2,725,215 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $71,524,240 |
| Investments—publicly traded securities | $42,597,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,398,153 |
| Total assets | $162,377,913 |
| Accounts payable and accrued expenses | $7,971,617 |
| Grants payable | $0 |
| Deferred revenue | $1,732,873 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,876,141 |
| Total liabilities | $65,580,631 |
| Net assets without donor restrictions | $38,738,944 |
| Net assets with donor restrictions | $58,058,338 |
| 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 | $162,377,913 |