Metropolitan College Of New York
- Assets
- $90.7m
- Revenue
- $28.0m
- Investments
- $5.1m
- Employees
- 293
- Location
- New York, NY
- Founding
- 09/1965
- Data as of
- 12/2022
- EIN
- 13-6192377
Organization Overview
Metropolitan College Of New York is located in New York, NY. The organization was established in 1965. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 12/2022, Metropolitan College Of New York employed 293 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan College Of New York 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 12/2022, Metropolitan College Of New York generated $28.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $27.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SUPERIOR, EXPERIENTIALLY-BASED EDUCATION THAT FOSTERS PERSONAL AND PROF. DEVELOP., PROMOTES SOCIAL JUSTICE, AND ENCOURAGES POSITIVE CHANGE IN WORKPLACES AND COMMUNITIES THROUGH PURPOSE CENTERED EDUC. AND CONSTRUCTIVE ACTION METHODOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SERVICES - EXPENSES RELATED TO FACILITATE STUDENT ENROLLMENT AT THE COLLEGE.
INSTRUCTION - DIRECT EXPENSE INCURRED FOR PROVIDING EDUCATION TO STUDENTS IN ACCORDANCE WITH CURRICULUM ESTABLISHED BY THE COLLEGE AND THE STATE EDUCATION DEPARTMENT.
STUDENT AID IS AWARDED BASED ON ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. THE COLLEGE EVALUATES STUDENT ELIGIBILITY AT THE END OF EACH SEMESTER FOR THE FOLLOWING TERM AND ALSO BEFORE DISBURSEMENT OF FINANCIAL AID.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Passaro President | OfficerTrustee | 40 | $375,972 |
Humphrey Crookendale VP Of Academic Affairs | 40 | $182,631 | |
Joy Colelli VP Em & VP Of Enrollment Mgmt | 40 | $192,308 | |
Adrian Harrison Smith VP Of Technology & COO | 40 | $160,858 | |
Clotilde Ibarra Dean Of Students | 40 | $129,009 | |
Kristin Curry Dir Of Admissions | 40 | $122,385 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dougherty Clifford & Wadworth Corp Marketing | 12/30/22 | $1,159,139 |
40 Rector Condominium Common Area Maintenance | 12/30/22 | $1,928,958 |
Ncheng Llp Accounting Support | 12/30/22 | $347,691 |
Asca Benefit Consolidation | 12/30/22 | $1,028,300 |
Hutch 149 Street Management Llc Common Area Maintenance | 12/30/22 | $277,120 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,455,931 |
| All other contributions, gifts, grants, and similar amounts not included above | $487,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,943,917 |
| Total Program Service Revenue | $16,035,729 |
| Investment income | $653,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,033,006 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,744,605 |
| Grants and other assistance to Foreign Orgs/Individuals | $51,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,829,966 |
| Compensation of current officers, directors, key employees. | $397,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,749,206 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,751,723 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,794 |
| Fees for services: Accounting | $88,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,171,985 |
| Advertising and promotion | $1,887,760 |
| Office expenses | $173,076 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $843,052 |
| Travel | $457 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,727 |
| Interest | $49,053 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,971,205 |
| Insurance | $347,446 |
| All other expenses | $1,030,293 |
| Total functional expenses | $27,720,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,909,034 |
| Savings and temporary cash investments | $34,096 |
| Pledges and grants receivable | $2,593,932 |
| Accounts receivable, net | $2,740,969 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $376,887 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,343,194 |
| Net Land, buildings, and equipment | $61,071,344 |
| Investments—publicly traded securities | $14,366,812 |
| Investments—other securities | $5,125,159 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $93,097 |
| Total assets | $90,654,524 |
| Accounts payable and accrued expenses | $674,945 |
| Grants payable | $0 |
| Deferred revenue | $200,069 |
| Tax-exempt bond liabilities | $63,028,870 |
| 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 | $349,153 |
| Total liabilities | $64,253,037 |
| Net assets without donor restrictions | $22,273,819 |
| Net assets with donor restrictions | $4,127,668 |
| 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 | $90,654,524 |