Rensselaer Polytechnic Institute
- Assets
- $1.6b
- Revenue
- $653.0m
- Investments
- $326.0m
- Employees
- 4,233
- Location
- Troy, NY
- Founding
- 04/1941
- Data as of
- 06/2020
- EIN
- 14-1340095
Organization Overview
Rensselaer Polytechnic Institute is located in Troy, NY. The organization was established in 1941. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Rensselaer Polytechnic Institute employed 4,233 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rensselaer Polytechnic Institute 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, Rensselaer Polytechnic Institute generated $653.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $619.3m during the year ending 06/2020. While expenses have increased by 3.0% 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 2015, Rensselaer Polytechnic Institute has awarded 310 individual grants totaling $29,890,214. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
RENSSELAER EDUCATES THE LEADERS OF TOMORROW FOR TECHNOLOGICALLY BASED CAREERS. WE CELEBRATE DISCOVERY AND THE RESPONSIBLE APPLICATION OF TECHNOLOGY TO CREATE KNOWLEDGE AND GLOBAL PROSPERITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONNUMBER OF STUDENTS ENROLLED: UNDERGRADUATE 6,265 GRADUATE 1,324
SCHOLARSHIP & FELLOWSHIPNUMBER OF UNDERGRADUATE STUDENTS ON SCHOLARSHIP: 4,775NUMBER OF GRADUATE STUDENTS ON SCHOLARSHIPS/FELLOWSHIPS: 1,276
RESEARCHNUMBER OF ACTIVE RESEARCH PROJECTS: 646
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shirley Ann Jackson President | Officer | 55 | $4,197,754 |
Curtis N Powell Vice President | Officer | 50 | $1,130,016 |
Prabhat Hajela Provost | Officer | 45 | $519,839 |
Graig Eastin Vice President | Officer | 45 | $473,393 |
Barbara Hough Vice President | Officer | 40 | $452,908 |
Jonathan Dordick Vice President | 45 | $447,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mt Ida Apartments Llc Rent | 6/29/21 | $1,022,143 |
Hv Housing Llc Rent | 6/29/21 | $1,259,882 |
Pattison Sampson Ginsberg & Griffin Legal | 6/29/21 | $767,676 |
Rc Housing 1 Llc Rent | 6/29/21 | $1,443,000 |
Murth Cullina Llp Legal | 6/29/21 | $1,291,006 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,104,177 |
| Investment income | $12,401,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $930,346 |
| Net Rental Income | $415,769 |
| Net Gain/Loss on Asset Sales | $11,256,392 |
| Net Income from Fundraising Events | -$1,169,501 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $98,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $653,047,178 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $222,741,532 |
| Grants and other assistance to Foreign Orgs/Individuals | $262,579 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,038,482 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,667,388 |
| Pension plan accruals and contributions | $10,525,096 |
| Other employee benefits | $21,491,854 |
| Payroll taxes | $10,476,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,406,043 |
| Fees for services: Accounting | $576,352 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $62,072 |
| Fees for services: Investment Management | $1,460,339 |
| Fees for services: Other | $50,282,430 |
| Advertising and promotion | $323,862 |
| Office expenses | $7,376,645 |
| Information technology | $4,023,863 |
| Royalties | $0 |
| Occupancy | $21,441,150 |
| Travel | $4,493,186 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $502,370 |
| Interest | $32,989,357 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,069,463 |
| Insurance | $6,833,959 |
| All other expenses | $0 |
| Total functional expenses | $619,342,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,760,030 |
| Pledges and grants receivable | $71,507,659 |
| Accounts receivable, net | $8,130,375 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $690,076 |
| Prepaid expenses and deferred charges | $6,873,255 |
| Investments—publicly traded securities | $415,064,257 |
| Investments—other securities | $325,991,928 |
| Investments—program-related | $18,538,342 |
| Intangible assets | $0 |
| Other assets | $45,277,377 |
| Total assets | $1,598,843,813 |
| Accounts payable and accrued expenses | $167,462,562 |
| Grants payable | $0 |
| Deferred revenue | $56,853,385 |
| Tax-exempt bond liabilities | $418,022,318 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $17,307,784 |
| Unsecured mortgages and notes payable | $322,875,470 |
| Other liabilities | $94,437,057 |
| Total liabilities | $1,076,958,576 |
| 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 | $521,885,237 |
Grants Awarded
Over the last fiscal year, Rensselaer Polytechnic Institute has awarded $8,868,181 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
Philadelphia, PA | | $778,294 |
Albany, NY PURPOSE: Research Subcontract | $714,897 |
New York, NY PURPOSE: Research Subcontract | $599,786 |
New York, NY PURPOSE: Research Subcontract | $538,097 |
Urbana, IL | | $459,584 |
New Haven, CT PURPOSE: Research Subcontract | $427,742 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Rensselaer Polytechnic Institute has recieved totaling $387,500.
| Awarding Organization | Amount |
|---|---|
The Fullgraf Foundation Wilmington, DE PURPOSE: FOR THE DR. CHARLES S. FULLGRAF ENDOWED SCHOLARSHIP FOR MECHANICAL ENGINEERING SCHOLARSHIP FUND | $350,000 |
Chau Family Charitable Foundation La Habra Hts, CA PURPOSE: CONTRIBUTE TO THE STUDENT DEVELOPMENT AND TO A VIBRANT AND ENGAGED CAMPUS COMMUNITY. | $20,000 |
The Fullgraf Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Fredric Fenstermacher Foundation Inc Ft Lauderdale, FL PURPOSE: UNRESTRICTED SUPPORT | $6,000 |
Kilkea Foundation Inc New York, NY PURPOSE: TUITION | $1,000 |
Chapman Foundation Greenville, SC PURPOSE: 501(C)(3) EDUCATIONAL INSTITUTION CONTRIBUTION | $500 |
Endowment Analysis
| Beg. Balance | $744,843,053 |
| Earnings | $337,450,522 |
| Admin Expense | $1,278,000 |
| Net Contributions | $18,891,992 |
| Other Expense | $12,867,360 |
| Grants | $19,448,640 |
| Ending Balance | $1,067,591,567 |
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 |