The Trustees Of The Stevens Institute Of Technology
- Assets
- $970.7m
- Revenue
- $466.4m
- Investments
- $83.2m
- Employees
- 4,089
- Location
- Hoboken, NJ
- Founding
- 10/1986
- Data as of
- 06/2022
- EIN
- 22-1487354
Organization Overview
The Trustees Of The Stevens Institute Of Technology, operating under the name Stevens Institute Of Technology, is located in Hoboken, NJ. The organization was established in 1986. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2023, Stevens Institute Of Technology employed 4,089 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stevens Institute Of Technology 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, Stevens Institute Of Technology generated $466.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $415.4m during the year ending 06/2022. While expenses have increased by 5.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATIONAL SERVICES, SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL INSTRUCTION: IN THE ACADEMIC YEAR 2022-2023, STEVENS' ENROLLMENT WAS 4,070 UNDERGRADUATE STUDENTS AND 5,244 GRADUATE STUDENTS. 948 STUDENTS GRADUATED WITH BACHELOR OF ENGINEERING, SCIENCE, BUSINESS OR ARTS DEGREES, 2,352 STUDENTS RECEIVED MASTER'S IN ENGINEERING, SCIENCE OR BUSINESS ADMINISTRATION. 66 PHD DEGREES WERE ALSO CONFERRED. IN ADDITION, STEVENS COLLABORATED WITH NUMEROUS DOMESTIC AND INTERNATIONAL UNIVERSITIES AND OTHER EDUCATIONAL PROGRAMS TO PROVIDE COURSES AND TRAINING TO INTERNATIONAL STUDENTS. STEVENS EMPHASIZES INNOVATION AND TEACHES ENTREPRENEURSHIP THROUGHOUT ITS CURRICULUM WITH THE AIM OF ENABLING THE INTEGRATION OF TECHNOLOGICAL AND MARKET KNOWLEDGE.
STUDENT LIFE: THE UNIVERSITY MAINTAINS A 55 ACRE CAMPUS IN HOBOKEN, NEW JERSEY AND PROVIDES STUDENTS WITH ON CAMPUS AND OFF CAMPUS HOUSING AS WELL AS SEVERAL DINING FACILITIES. CLOSE INTERACTIONS BETWEEN PROFESSORS AND STUDENTS ALLOW FOR GREATER ACADEMIC AND SOCIAL DEVELOPMENT. THERE ARE OVER 173 CLUBS, ORGANIZATIONS AND VARSITY SPORTS THAT OFFER THE STUDENTS AMPLE OPPORTUNITY TO PARTICIPATE, BROADEN AND ENRICH THEIR STUDENT LIFE. THE S.C. WILLIAMS LIBRARY SERVES AS THE UNIVERSITY'S INTELLECTUAL, CULTURAL AND SOCIAL CENTER CAPITALIZING ON A RESOURCEFUL STAFF AND NEW TECHNOLOGIES TO FOSTER A STIMULATING ENVIRONMENT FOR TEACHING, LEARNING AND SCIENTIFIC DISCOVERY.
RESEARCH: RESEARCH CENTERS AND CROSS-DISCIPLINARY RESEARCH INITIATIVES WITH AFFILIATED ORGANIZATIONS AND INFRASTRUCTURE. CREATIVE AND ENTREPRENEURAL RESEARCH IS AN INTEGRAL PART OF THE STEVENS MISSION. THE INSTITUTE HAS BEEN RECOGNIZED BY BOTH THE U.S. DEPARTMENT OF DEFENSE AND THE DEPARTMENT OF HOMELAND SECURITY AS A NATIONAL CENTER OF EXCELLENCE IN THE AREAS OF SYSTEMS ENGINEERING, PORT SECURITY AND INFORMATION ASSURANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nariman Farvardin President/trustee | OfficerTrustee | 55 | $1,188,051 |
Elaine Henry Trustee/professor As Of 5/23/2023 | Trustee | 55 | $201,646 |
Mo Mansouri Trustee/assoc Prof As Of 5/23/2023 | Trustee | 55 | $187,144 |
Rainer Martini Trustee/professor To 5/23/2023 | Trustee | 55 | $194,896 |
Stephen T Boswell Chairman/trustee | OfficerTrustee | 3 | $0 |
Saleel V Awsare Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa 417632 Dining Sevices Provider | 6/29/23 | $13,356,269 |
Tishman Construction Building Contractor | 6/29/23 | $22,988,143 |
Noodle Partners Inc On-line Course Provider | 6/29/23 | $7,872,927 |
Educo Usa Inc Recruiting Services | 6/29/23 | $3,037,354 |
Ug2 Llc Cleaning Services | 6/29/23 | $5,573,097 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,685 |
| Related organizations | $0 |
| Government grants | $10,836,547 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,670,037 |
| Noncash contributions included in lines 1a–1f | $857,504 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,531,269 |
| Total Program Service Revenue | $419,310,878 |
| Investment income | $7,596,862 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $50,175 |
| Net Rental Income | $55,415 |
| Net Gain/Loss on Asset Sales | $10,126,280 |
| Net Income from Fundraising Events | $5,841 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $466,449,861 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $124,990,017 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,636,144 |
| Compensation of current officers, directors, key employees. | $4,314,214 |
| Compensation to disqualified persons | $267,918 |
| Other salaries and wages | $133,459,171 |
| Pension plan accruals and contributions | $7,439,930 |
| Other employee benefits | $14,492,480 |
| Payroll taxes | $7,866,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,175,490 |
| Fees for services: Accounting | $443,758 |
| Fees for services: Lobbying | $197,274 |
| Fees for services: Fundraising | $292,760 |
| Fees for services: Investment Management | $1,129,633 |
| Fees for services: Other | $25,390,128 |
| Advertising and promotion | $7,809,636 |
| Office expenses | $2,789,897 |
| Information technology | $7,660,182 |
| Royalties | $0 |
| Occupancy | $9,072,781 |
| Travel | $2,039,517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $561,155 |
| Interest | $4,837,486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,424,142 |
| Insurance | $2,425,481 |
| All other expenses | $9,615,194 |
| Total functional expenses | $415,420,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,330,302 |
| Savings and temporary cash investments | $88,201,222 |
| Pledges and grants receivable | $11,300,188 |
| Accounts receivable, net | $21,093,331 |
| 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 | $19,332,450 |
| Net Land, buildings, and equipment | $520,414,733 |
| Investments—publicly traded securities | $194,536,214 |
| Investments—other securities | $83,174,181 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,337,458 |
| Total assets | $970,720,079 |
| Accounts payable and accrued expenses | $40,382,676 |
| Grants payable | $0 |
| Deferred revenue | $20,917,418 |
| Tax-exempt bond liabilities | $358,679,256 |
| 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 | $14,529,451 |
| Total liabilities | $434,508,801 |
| Net assets without donor restrictions | $268,399,505 |
| Net assets with donor restrictions | $267,811,773 |
| 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 | $970,720,079 |