Nazareth University
- Assets
- $285.3m
- Revenue
- $124.1m
- Investments
- $35.4m
- Employees
- 2,192
- Location
- Rochester, NY
- Founding
- 12/1963
- Data as of
- 06/2022
- EIN
- 16-0743088
Organization Overview
Nazareth University is located in Rochester, NY. The organization was established in 1963. 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, Nazareth University employed 2,192 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nazareth 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, Nazareth University generated $124.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $124.0m during the year ending 06/2022. While expenses have increased by 2.8% 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
NAZARETH COLLEGE FOSTERS INTEGRATED LEARNING THROUGH ACTION AND REFLECTION, EDUCATING WHOLE PERSONS WHO ARE GUIDED BY EMPATHY, COMMITTED TO EQUITY, AND PREPARED TO LEAD INNOVATION FOR OUR TIME.
Describe the Organization's Program Activity:
HIGHER EDUCATION INSTRUCTION-REFLECTS EXPENSES DIRECTLY RELATING TO THE DELIVERY OF QUALITY INSTRUCTIONAL PROGRAMS AT THE UNDERGRADUATE, GRADUATE, AND CONTINUING EDUCATION LEVELS. PROGRAMS OF STUDY ARE DELIVERED THROUGH THE COLLEGE OF ARTS AND SCIENCES, AND SCHOOLS OF EDUCATION, BUSINESS AND LEADERSHIP, AND HEALTH AND HUMAN SERVICES. (2,523 TOTAL STUDENT FTE'S)
ALL OTHER PROGRAM EXPENSES, INCLUDES STUDENT SERVICES, ACADEMIC SUPPORT AND ARTS CENTER. STUDENT SERVICES PERTAINS TO OFFICES SERVING STUDENTS INCLUDING REGISTRATION AND RECORDS, STUDENT DEVELOPMENT, CENTER FOR LIFE'S WORK, ENROLLMENT MANAGEMENT AND CENTER FOR STUDENT SUCCESS. ATHLETIC EXPENSES ARE ALSO INCLUDED IN THIS CATEGORY. ACADEMIC SUPPORT PERTAINS TO LIBRARY SERVICES, ACADEMIC ADVISEMENT, THE CENTER FOR INTERNATIONAL EDUCATION AND THE OFFICES OF THE DEANS, AMONG OTHERS. THE ARTS CENTER IS A PRESENTER OF EXCEPTIONAL MUSIC, THEATER AND DANCE PERFORMANCES. (2,523 TOTAL STUDENT FTE'S)
SCHOLARSHIP PROGRAMS: SCHOLARSHIPS AND GRANTS-REFLECTS THE COMPETITIVE SCHOLARSHIPS, NEED BASED AID, AND HIGHER EDUCATION OPPORTUNITY GRANTS AWARDED TO STUDENTS IN ORDER TO MAKE THE TOTAL COST OF ATTENDANCE MORE AFFORDABLE. (2,523 TOTAL STUDENT FTE'S)
AUXILIARY ENTERPRISES-PERTAINS TO THE OPERATIONS OF THE INSTITUTION THAT EXIST TO FURNISH A SERVICE TO STUDENTS, FACULTY, OR STAFF, AND THAT CHARGE A FEE THAT IS DIRECTLY RELATED TO, ALTHOUGH NOT NECESSARILY EQUAL TO, THE COST OF THE SERVICE. AUXILIARY ENTERPRISES ARE MANAGED AS ESSENTIALLY SELF-SUPPORTING ACTIVITIES. EXAMPLES ARE RESIDENCE HALLS, FOOD SERVICES, AND STUDENT HEALTH SERVICES. (2,523 TOTAL STUDENT FTE'S)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Drain Vice Chair | OfficerTrustee | 2 | $0 |
Timothy Fournier Chair | OfficerTrustee | 2 | $0 |
Jack Allocco Trustee | Trustee | 2 | $0 |
Yolanda Ramos Benitez Trustee | Trustee | 2 | $0 |
Stephen Brown Trustee | Trustee | 2 | $0 |
Brian Cooper Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harter Secrest & Emery Llp Legal Fees | 6/29/22 | $440,318 |
Swbr Architects Architects | 6/29/22 | $398,761 |
Ellucian Software | 6/29/22 | $347,562 |
Domicello Enterprises Construction | 6/29/22 | $201,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,135 |
| Related organizations | $0 |
| Government grants | $7,495,568 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,919,586 |
| Noncash contributions included in lines 1a–1f | $161,237 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,426,289 |
| Total Program Service Revenue | $108,250,411 |
| Investment income | $1,524,382 |
| Tax Exempt Bond Proceeds | $22 |
| Royalties | $0 |
| Net Rental Income | $92,805 |
| Net Gain/Loss on Asset Sales | $1,931,279 |
| Net Income from Fundraising Events | $34 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,085,026 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $39,104,056 |
| Grants and other assistance to Foreign Orgs/Individuals | $200,610 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,846,251 |
| Compensation of current officers, directors, key employees. | $660,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,883,485 |
| Pension plan accruals and contributions | $1,630,841 |
| Other employee benefits | $4,494,677 |
| Payroll taxes | $2,719,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $405,577 |
| Fees for services: Accounting | $69,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $696,815 |
| Fees for services: Other | $1,339,774 |
| Advertising and promotion | $1,648,202 |
| Office expenses | $2,004,282 |
| Information technology | $1,725,059 |
| Royalties | $10,972 |
| Occupancy | $7,909,338 |
| Travel | $803,233 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $162,581 |
| Interest | $1,938,507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,834,240 |
| Insurance | $880,418 |
| All other expenses | $0 |
| Total functional expenses | $124,046,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,923 |
| Savings and temporary cash investments | $27,591,963 |
| Pledges and grants receivable | $1,940,040 |
| Accounts receivable, net | $2,479,052 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $658,605 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,635,415 |
| Net Land, buildings, and equipment | $152,426,464 |
| Investments—publicly traded securities | $59,880,446 |
| Investments—other securities | $35,442,878 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,390,048 |
| Total assets | $285,294,834 |
| Accounts payable and accrued expenses | $7,382,404 |
| Grants payable | $0 |
| Deferred revenue | $794,181 |
| Tax-exempt bond liabilities | $44,077,731 |
| 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 | $12,651,534 |
| Total liabilities | $64,905,850 |
| Net assets without donor restrictions | $177,895,155 |
| Net assets with donor restrictions | $42,493,829 |
| 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 | $285,294,834 |