Excelsior University
- Assets
- $65.2m
- Revenue
- $71.8m
- Investments
- $0.0
- Employees
- 1,131
- Location
- Albany, NY
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 16-1532850
Organization Overview
Excelsior University is located in Albany, NY. The organization was established in 1998. 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, Excelsior University employed 1,131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Excelsior 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, Excelsior University generated $71.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $75.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 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
EXCELSIOR COLLEGE PROVIDES EDUCATIONAL OPPORTUNITY TO ADULT LEARNERS WITH AN EMPHASIS ON THOSE HISTORICALLY UNDERREPRESENTED IN HIGHER EDUCATION. THE COLLEGE MEETS STUDENTS WHERE THEY ARE - ACADEMICALLY AND GEOGRAPHICALLY, OFFERING QUALITY INSTRUCTION AND THE ASSESSMENT OF PRIOR LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDERGRAD AND GRADUATE TUITION AND FEES. DURING THIS PERIOD, 125,016 UNDERGRADUATE HOURS OF COURSE INSTRUCTION, AND 16,296 HOURS OF GRADUATE LEVEL COURSE INSTRUCTION WERE DELIVERED.
NURSING PERFORMANCE AND OTHER ADMINISTERED EXAMINATIONS. DURING THIS PERIOD, THE COLLEGE ADMINISTERED 2,295 CREDIT BEARING EXAMINATIONS TO STUDENTS ENROLLED IN ITS VARIOUS PROGRAMS INCLUDING NURSING, AND DELIVERED 5,846 CREDITS IN PERFORMANCE EXAMINATIONS TO STUDENTS ENROLLED IN ITS NURSING PROGRAMS.
ENROLLMENT IN HIGHER EDUCATION. DURING THIS PERIOD, 6,802 NEW STUDENTS ENROLLED IN THE COLLEGE WHILE THERE WERE 14,987 ACTIVELY ENROLLED STUDENTS AS OF 6/30/22. 4,450 DEGREES WERE AWARDED FROM JULY 1, 2021 THROUGH JUNE 30, 2022.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Schejbal President & Chief Executive Officer | Officer | 37.5 | $491,510 |
John Caron Provost And Chief Academic Officer Until 12/3/2021 | Officer | 37.5 | $300,367 |
James C Lettko Chief Operating Officer Until 6/30/2022 | Officer | 37.5 | $259,943 |
Dawn F Gerrain Chief Marketing And Business Development Officer Until 6/24/2022 | Officer | 37.5 | $233,540 |
Mark Howe VP Of Human Resources | Officer | 37.5 | $230,405 |
Saul Morse Chief Technology Officer Until 5/20/2022 | Officer | 37.5 | $186,902 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Education Dynamics Advertising Services | 6/29/22 | $3,367,392 |
Nuvalence Llc Flexible Pricing Engine | 6/29/22 | $986,650 |
Ellucian Company Lp Academic Online Service | 6/29/22 | $1,025,064 |
Assessment Technologies Llc Academic Technology | 6/29/22 | $650,575 |
Milton S Eisenhower Library Johns Hopkins University Library Services | 6/29/22 | $1,162,833 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,479,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $314,922 |
| Noncash contributions included in lines 1a–1f | $1,547 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,794,202 |
| Total Program Service Revenue | $65,521,228 |
| Investment income | $816,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $283,882 |
| Net Gain/Loss on Asset Sales | $1,394,501 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,809,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,926,349 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,879,302 |
| Compensation of current officers, directors, key employees. | $2,466,956 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,758,216 |
| Pension plan accruals and contributions | $1,924,730 |
| Other employee benefits | $3,462,649 |
| Payroll taxes | $3,036,341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $182,491 |
| Fees for services: Accounting | $82,650 |
| Fees for services: Lobbying | $164,371 |
| Fees for services: Fundraising | $22,334 |
| Fees for services: Investment Management | $41,865 |
| Fees for services: Other | $6,635,990 |
| Advertising and promotion | $4,634,719 |
| Office expenses | $1,253,568 |
| Information technology | $5,014,791 |
| Royalties | $0 |
| Occupancy | $1,127,804 |
| Travel | $314,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,264 |
| Interest | $7,171 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,843,143 |
| Insurance | $270,862 |
| All other expenses | $0 |
| Total functional expenses | $75,215,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$737,909 |
| Savings and temporary cash investments | $9,578,025 |
| Pledges and grants receivable | $19,112 |
| Accounts receivable, net | $6,861,578 |
| 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 | $2,879,544 |
| Net Land, buildings, and equipment | $17,092,660 |
| Investments—publicly traded securities | $28,486,292 |
| Investments—other securities | $0 |
| Investments—program-related | $122,683 |
| Intangible assets | $0 |
| Other assets | $893,996 |
| Total assets | $65,195,981 |
| Accounts payable and accrued expenses | $7,236,675 |
| Grants payable | $0 |
| Deferred revenue | $4,944,311 |
| 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 | $8,878,620 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,539 |
| Total liabilities | $21,067,145 |
| Net assets without donor restrictions | $41,035,159 |
| Net assets with donor restrictions | $3,093,677 |
| 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 | $65,195,981 |