Centenary University
- Assets
- $32.7m
- Revenue
- $57.8m
- Investments
- $0.0
- Employees
- 801
- Location
- Hackettstown, NJ
- Founding
- 05/1960
- Data as of
- 06/2020
- EIN
- 22-1500484
Organization Overview
Centenary University is located in Hackettstown, NJ. The organization was established in 1960. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Centenary University employed 801 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centenary 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, Centenary University generated $57.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $53.8m during the year ending 06/2020. While expenses have increased by 3.5% 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
CENTENARY UNIVERSITY DELIVERS ACCREDITED DEGREE PROGRAMS AND OTHER DYNAMIC LEARNING EXPERIENCES TO PREPARE STUDENTS FOR REGIONAL AND GLOBAL PROFESSIONS OF CRITICAL THOUGHT AND PURPOSEFUL ACTION WITHIN A SUPPORTIVE ENVIRONMENT IMMERSED IN A CULTURE OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL: CENTENARY UNIVERSITY IS A COMMUNITY OF LEARNERS DISTINGUISHED BY A DIVERSE STUDENT BODY, A DEDICATED FACULTY AND STAFF AND STIMULATING EDUCATION OPPORTUNITIES. THE UNIVERSITY IS COMMITTED TO QUALITY LIBERAL ARTS AND CAREER STUDIES EDUCATION TO ENGAGE STUDENTS IN LEARNING AND PREPARE THEM FOR A SATISFYING CAREER, SUCCESSFUL LIVES, COMMUNITY SERVICE AND LIFELONG INTELLECTUAL PURSUITS. AS THE PRIMARY EDUCATIONAL AND CULTURAL RESOURCE OF NORTHWEST NEW JERSEY, CENTENARY OFFERS A RANGE OF UNDERGRADUATE, GRADUATE AND DOCTORATE PROGRAMS, AS WELL AS NON-DEGREE COURSES FOR PROFESSIONAL AND PERSONAL DEVELOPMENT.CENTENARY RECEIVED MUCH NEEDED FEDERAL AND STATE INSTITUTIONAL FUNDING AS RESULT OF THE COVID-19 PANDEMIC. FUNDS HAVE BEEN USED TO CREATE QUARANTINE FACILITIES AND TO KEEP CENTENARY'S EMPLOYEES EMPLOYED THROUGHOUT. IN ADDITION, FUNDS WERE USED TO PURCHASE ADDITIONAL AUDIO/VISUAL TECHNOLOGY TO FACILITATE ONLINE LEARNING IN TOTALLY VIRTUAL AND HYBRID FORMATS, AS WELL AS ON GROUND. AND FUNDS FACILITATED THE UNIVERSITY'S ABILITY TO UPGRADE CAMPUS HVAC SYSTEMS TO PROVIDE BETTER, SAFER QUALITY AIRFLOW, TO PROVIDE FOR ADDITIONAL CLEANING AND DISINFECTING SUPPLIES AND STAFFING TO CLEAN AND DISINFECT ALL CAMPUS FACILITIES AND TO SUPPLY PPE TO STUDENTS AND EMPLOYEES.
AUXILIARY SERVICES AT CENTENARY UNIVERSITY ARE ORGANIZED TO SUPPORT STUDENT ACTIVITIES AND PROVIDE STUDENT HOUSING AND OTHER FACILITIES AND SERVICE FOR THE BENEFIT OF THE CENTENARY UNIVERSITY STUDENTS. UNIVERSITY DORMITORIES CONSIST OF 8 RESIDENCE HALLS AND PROVIDE LIVING QUARTERS FOR APPROXIMATELY 600 STUDENTS. AUXILIARY SERVICES ALSO PROVIDE RECREATIONAL FACILITES, INPERSON AND REMOTE EVENTS, WELLNESS AND DINING SERVICES, PARKING, AND OTHER STUDENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Murphy President | Officer | 35 | $306,618 |
Denton Stargel VP Busi & Fin/cfo | Officer | 35 | $191,864 |
Barbara Lewthwaite Pres. Emeritus/prof Of Bus | 35 | $150,040 | |
Amy D'olivo VP Academic Aff/cao | 35 | $138,764 | |
Robert Miller VP Enrollment | 35 | $131,266 | |
Kerry Mullins-Montane VP For Student Life | 35 | $129,176 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Service | 6/29/21 | $2,089,170 |
National Management Resources Maintenance Services | 6/29/21 | $1,753,915 |
Ellucian Company Lp Information Tech Services | 6/29/21 | $1,680,432 |
Eab Global Inc Recruitment Services | 6/29/21 | $1,226,129 |
Hobsons Inc Marketing | 6/29/21 | $272,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,903,877 |
| Investment income | $29,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $310 |
| Net Gain/Loss on Asset Sales | $51,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,760,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $19,940,151 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $485,786 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,926,182 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,305,058 |
| Payroll taxes | $1,608,619 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $204,632 |
| Fees for services: Accounting | $125,828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,064 |
| Fees for services: Other | $1,139,125 |
| Advertising and promotion | $1,860,322 |
| Office expenses | $960,914 |
| Information technology | $1,962,237 |
| Royalties | $26,877 |
| Occupancy | $3,883,756 |
| Travel | $220,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,431 |
| Interest | $275,163 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,018,594 |
| Insurance | $116,330 |
| All other expenses | $0 |
| Total functional expenses | $53,817,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,658 |
| Savings and temporary cash investments | $1,386,318 |
| Pledges and grants receivable | $3,297,558 |
| Accounts receivable, net | $1,745,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,597 |
| Prepaid expenses and deferred charges | $481,474 |
| Investments—publicly traded securities | $11,528,449 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $789,726 |
| Total assets | $32,681,476 |
| Accounts payable and accrued expenses | $2,057,270 |
| Grants payable | $0 |
| Deferred revenue | $2,512,234 |
| Tax-exempt bond liabilities | $97,222 |
| Escrow or custodial account liability | $124,425 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,500,000 |
| Unsecured mortgages and notes payable | $2,715,554 |
| Other liabilities | $29,311,231 |
| Total liabilities | $39,317,936 |
| 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 | -$6,636,460 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Centenary University has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Lakehurst Foundation Fort Lauderdale, FL PURPOSE: KATHLEEN COAKLEY KOCH '67 SCHOLARSHIP | $10,000 |
Endowment Analysis
| Beg. Balance | $10,722,847 |
| Earnings | $3,212,684 |
| Net Contributions | $2,856,966 |
| Grants | $455,537 |
| Ending Balance | $16,336,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
St Francis College Brooklyn, NY | $411,618,421 | $89,705,791 |
Utica University Utica, NY | $156,931,603 | $105,142,781 |
College Of Mount Saint Vincent Riverdale, NY | $139,449,317 | $110,010,056 |
Lebanon Valley College Annville, PA | $214,348,628 | $104,612,783 |
Seton Hill University Greensburg, PA | $189,465,294 | $99,847,300 |
Juniata College Huntingdon, PA | $246,892,473 | $100,031,718 |
Washington And Jefferson College Washington, PA | $317,857,588 | $82,152,318 |
Elizabethtown College Elizabethtown, PA | $232,746,641 | $88,467,618 |
Saint Vincent College Latrobe, PA | $298,895,974 | $111,303,783 |
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |