Alfred University
- Assets
- $321.9m
- Revenue
- $125.8m
- Investments
- $20.9m
- Employees
- 1,575
- Location
- Alfred, NY
- Founding
- 11/1937
- Data as of
- 06/2020
- EIN
- 16-0743900
Organization Overview
Alfred University is located in Alfred, NY. The organization was established in 1937. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Alfred University employed 1,575 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alfred 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 06/2020, Alfred University generated $125.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $108.4m during the year ending 06/2020. While expenses have increased by 1.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ALFRED UNIVERSITY IS TO PROVIDE EXCELLENT QUALITY AND ENDURING VALUE THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMMING THAT IS BOTH INTELLECTUALLY CHALLENGING AND PRACTICALLY RELEVANT. WE ARE CULTURALLY DIVERSE AND STUDENT-CENTERED, AND AIM TO SERVE AN EVER-CHANGING STUDENT POPULATION. WE SEEK STUDENTS WITH THE ASPIRATION AND DEDICATION TO DO WELL FOR THEMSELVES AND FOR THEIR GREATER COMMUNITIES. THUS, WE PREPARE OUR STUDENTS WITH THE KNOWLEDGE, SKILLS AND LIFE-HABITS THAT WILL ENABLE THEM TO SUCCEED, AND TO LIVE LIVES OF CONTINUOUS PERSONAL GROWTH AND SERVICE TO OTHERS. THESE OUTCOMES ARE ACHIEVED THROUGH A COMMITMENT, BY THE ENTIRE AU COMMUNITY, TO TEACHING AND RESEARCH, THE PURSUIT OF SCIENTIFIC AND TECHNICAL EXPERTISE, ARTISTIC CREATIVITY, AND HUMANISTIC LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION: ALFRED UNIVERSITY IS A COEDUCATIONAL INSTITUTION COMPRISED OF THE PRIVATELY ENDOWED COLLEGES OF LIBERAL ARTS AND SCIENCES, ENGINEERING AND BUSINESS, AND THE SCHOOL OF GRADUATE AND CONTINUING STUDIES, AS WELL AS TWO STATUTORY UNITS - THE SCHOOL OF ART AND DESIGN AND SELECTED PROGRAMS WITHIN THE SCHOOL OF ENGINEERING. WE OFFER BOTH UNDERGRADUATE AND GRADUATE DEGREES ALONG WITH UNDERGRADUATE AND GRADUATE RESEARCH OPPORTUNITIES TO APPROXIMATELY 2,000 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Zupan President | Officer | 50 | $443,051 |
Gabrielle G Gaustad Dean, School Of Engineering | 50 | $234,611 | |
Giovina Lloyd VP Business/finance & CFO | Officer | 50 | $225,995 |
Scott Misture Professor, School Of Engineering | 50 | $224,947 | |
Elizabeth Dobie Vice President & Provost | Officer | 50 | $220,244 |
Jason Amore VP For Advancement | 50 | $175,914 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Avi Foodsystems Inc Food Service Vendor | 6/29/22 | $4,188,821 |
Center For Integrated Teacher Education Professional Services | 6/29/22 | $2,562,179 |
Universal Builders Contracted Services | 6/29/22 | $1,040,840 |
Noodle Partners Inc Professional Services | 6/29/22 | $757,512 |
Pres Services Llc Contracted Services | 6/29/22 | $754,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,176,032 |
| Investment income | $3,561,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,172,508 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,818,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $33,368,825 |
| Grants and other assistance to Foreign Orgs/Individuals | $522,470 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,940,309 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,127,136 |
| Pension plan accruals and contributions | $3,461,306 |
| Other employee benefits | $6,138,116 |
| Payroll taxes | $2,094,987 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $192,202 |
| Fees for services: Accounting | $165,939 |
| Fees for services: Lobbying | $50,306 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $225,984 |
| Fees for services: Other | $8,210,970 |
| Advertising and promotion | $135,792 |
| Office expenses | $3,192,827 |
| Information technology | $773,353 |
| Royalties | $0 |
| Occupancy | $1,790,568 |
| Travel | $2,025,189 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,441 |
| Interest | $171,528 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,925,471 |
| Insurance | $538,719 |
| All other expenses | $0 |
| Total functional expenses | $108,380,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,763,324 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,397,902 |
| Accounts receivable, net | $2,652,773 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,698,484 |
| Inventories for sale or use | $314,600 |
| Prepaid expenses and deferred charges | $294,926 |
| Investments—publicly traded securities | $118,520,307 |
| Investments—other securities | $20,900,503 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,880,003 |
| Accounts payable and accrued expenses | $6,179,611 |
| Grants payable | $0 |
| Deferred revenue | $4,558,543 |
| Tax-exempt bond liabilities | $5,730,389 |
| 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 | $30,069,017 |
| Total liabilities | $46,537,560 |
| 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 | $275,342,443 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Alfred University has recieved totaling $2,150.
| Awarding Organization | Amount |
|---|---|
King Scholarship Fund Dallas, TX PURPOSE: SCHOLARSHIP | $1,150 |
Tuff Quest For The Collie Club Of America Juniors Inc Freehold, NJ PURPOSE: SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $181,447,319 |
| Earnings | -$14,535,887 |
| Net Contributions | $2,671,271 |
| Other Expense | $4,347,308 |
| Grants | $3,205,827 |
| Ending Balance | $162,029,568 |
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 |