Saint Peters University
- Assets
- $164.5m
- Revenue
- $118.5m
- Investments
- $353.2k
- Employees
- 1,186
- Location
- Jersey City, NJ
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 22-1508627
Organization Overview
Saint Peters University is located in Jersey City, NJ. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Saint Peters University employed 1,186 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Saint Peters 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 06/2021, Saint Peters University generated $118.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $111.5m during the year ending 06/2021. While expenses have increased by 1.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SAINT PETER'S UNIVERSITY EDUCATES A DIVERSE COMMUNITY OF LEARNERS IN UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS TO EXCEL, LEAD, SERVE AND PROMOTE JUSTICE.
Describe the Organization's Program Activity:
INSTRUCTION AND ACADEMIC SUPPORT - THE UNIVERSITY PROVIDES ACCREDITED COURSES AND OTHER RELATED SERVICES TO APPROXIMATELY 3,900 STUDENTS, INCLUDING BOTH DAY AND EVENING SESSIONS, FOR FULL-TIME OR PART-TIME UNDERGRADUATE (60 PROGRAMS) AND SEVERAL GRADUATE STUDY PROGRAMS. FINANCIAL AID IS AWARDED TO STUDENTS FROM INSTITUTIONAL SOURCES BASED ON ACADEMIC ACHIEVEMENT, ATHLETIC ABILITY AND NEED.
STUDENT SERVICES - INCLUDES ENROLLMENT SERVICES, REGISTRAR, HEALTH AND COUNSELING PROGRAMS, FINANCIAL AID, CAMPUS MINISTRY, STUDENT CLUBS AND ORGANIZATIONS, INTERCOLLEGIATE AND INTRAMURAL SPORTS AND ACTIVITIES, AND STUDENT HOUSING.
SPONSORED PROGRAMS - INCLUDES VARIOUS PRIVATE PROGRAMS FOR THE BENEFIT OF THE STUDENT BODY, SUCH AS ACADEMIC ENRICHMENT, ACADEMIC CHAIRS, CAPITAL CAMPAIGN, AND VARIOUS ENDOWED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene J Cornacchia PHD Ex-Officio Trustee - President | OfficerTrustee | 55 | $366,654 |
Shaheen Holloway Mens Basketball Coach | 55 | $243,150 | |
Frederick P Bonato Provost/academic VP | Officer | 55 | $199,176 |
Elizabeth Sullivan VP Enrollment Mgmt & Mktg | Officer | 55 | $177,182 |
Hector O Paredes Vp-Fin & Bus (thru 8/21/20) | Officer | 55 | $173,350 |
Maryellen Hamilton Professor Of Psychology | 55 | $161,189 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Food Services | 6/29/21 | $3,113,717 |
Aramark Facilities Mgmt | 6/29/21 | $2,330,293 |
Collins Building Services Inc Custodial Services | 6/29/21 | $1,355,883 |
Summit Security Services Inc Security | 6/29/21 | $1,700,872 |
Ellucian Company Lp Info Tech Services | 6/29/21 | $1,015,781 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $471,876 |
| Related organizations | $0 |
| Government grants | $14,576,403 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,538,458 |
| Noncash contributions included in lines 1a–1f | $214,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,586,737 |
| Total Program Service Revenue | $95,781,813 |
| Investment income | $1,219,952 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$48,830 |
| Net Gain/Loss on Asset Sales | $2,035,426 |
| Net Income from Fundraising Events | -$51,777 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,523,321 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $45,169,180 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,528,674 |
| Compensation of current officers, directors, key employees. | $1,206,193 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,198,184 |
| Pension plan accruals and contributions | $523,096 |
| Other employee benefits | $4,335,942 |
| Payroll taxes | $1,945,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300,529 |
| Fees for services: Accounting | $231,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $50,000 |
| Fees for services: Investment Management | $202,667 |
| Fees for services: Other | $1,606,144 |
| Advertising and promotion | $2,028,257 |
| Office expenses | $2,705,584 |
| Information technology | $267,402 |
| Royalties | $0 |
| Occupancy | $11,599,191 |
| Travel | $358,984 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $403,662 |
| Interest | $1,886,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,373,291 |
| Insurance | $1,038,443 |
| All other expenses | $1,967,660 |
| Total functional expenses | $111,476,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,793,461 |
| Savings and temporary cash investments | $1,983,443 |
| Pledges and grants receivable | $13,391,553 |
| Accounts receivable, net | $3,701,176 |
| 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 | $762,806 |
| Net Land, buildings, and equipment | $92,828,637 |
| Investments—publicly traded securities | $43,805,694 |
| Investments—other securities | $353,166 |
| Investments—program-related | $0 |
| Intangible assets | $654,073 |
| Other assets | $2,202,045 |
| Total assets | $164,476,054 |
| Accounts payable and accrued expenses | $7,720,418 |
| Grants payable | $50,643 |
| Deferred revenue | $2,560,882 |
| Tax-exempt bond liabilities | $19,154,371 |
| Escrow or custodial account liability | $3,870 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $25,217,971 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,049,946 |
| Total liabilities | $65,758,101 |
| Net assets without donor restrictions | $30,781,008 |
| Net assets with donor restrictions | $67,936,945 |
| 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 | $164,476,054 |
Grants Recieved
Over the last fiscal year, we have identified 38 grants that Saint Peters University has recieved totaling $2,313,304.
| Awarding Organization | Amount |
|---|---|
Thomas & Sarah Macmahon Fam Char Fdtn Tr Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,004,700 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $567,950 |
Metro Atlantic Athletic Conference Edison, NJ PURPOSE: TO SUPPORT MEMBER INSTITUTION | $295,380 |
Sales Executive Club Of New Jersey Foundation Morristown, NJ PURPOSE: SCHOLARSHIP | $65,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $65,000 |
Independent College Fund Of Nj Trenton, NJ PURPOSE: FURTHERING EDUCATION AS AN EXEMPT PURPOSE | $48,956 |
Endowment Analysis
| Beg. Balance | $34,738,402 |
| Earnings | $7,858,322 |
| Net Contributions | $1,131,835 |
| Other Expense | $2,787,361 |
| Ending Balance | $40,941,198 |
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 |
Seton Hall University South Orange, NJ | $890,349,000 | $473,034,000 |
Duquesne University Of The Holy Spirit Pittsburgh, PA | $869,263,663 | $434,180,406 |