Saint Elizabeth University
- Assets
- $71.9m
- Revenue
- $45.5m
- Investments
- $10.0m
- Employees
- 618
- Location
- Morristown, NJ
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 22-1529785
Organization Overview
Saint Elizabeth University is located in Morristown, NJ. The organization was established in 1946. 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, Saint Elizabeth University employed 618 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Saint Elizabeth 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, Saint Elizabeth University generated $45.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $44.0m during the year ending 06/2022. While expenses have increased by 3.5% 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
TO BE A COMMUNITY OF LEARNING IN THE CATHOLIC LIBERAL ARTS TRADITION FOR A DIVERSE STUDENT BODY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAINT ELIZABETH UNIVERSITY, A NOT-FOR-PROFIT INSTITUTION OF HIGHER EDUCATION, IS A UNIVERSITY IN THE CATHOLIC, LIBERAL ARTS TRADITION. FOUNDED AS A LIBERAL ARTS COLLEGE FOR WOMEN IN 1899 BY THE SISTERS OF CHARITY OF SAINT ELIZABETH, THE COLLEGE WAS ONE OF THE FIRST CATHOLIC COLLEGES IN THE UNITED STATES TO AWARD DEGREES TO WOMEN. THE COLLEGE BECAME INCORPORATED UNDER NEW JERSEY STATE LAW IN MAY 1900 AND GRANTED ITS FIRST BACCALAUREATE DEGREES IN JUNE 1903. SINCE THEN, THE COLLEGE HAS STEADILY DEVELOPED AND IS NOW A CO-EDUCATIONAL INSTITUTION CLASSIFIED AMONG "MASTER'S COLLEGES & UNIVERSITIES: MEDIUM PROGRAMS" IN THE CARNEGIE SYSTEM. (SEE SCH O)THE COLLEGE BECAME SAINT ELIZABETH UNIVERSITY ON JULY 1, 2020. THE UNIVERSITY OFFERS 28 BACCALAUREATE DEGREE PROGRAMS, 17 MASTER'S DEGREE PROGRAMS, 2 DOCTORAL PROGRAMS, AND A VARIETY OF PROFESSIONAL CERTIFICATIONS AND CERTIFICATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Crosby President And Treasurer | OfficerTrustee | 35 | $151,613 |
Elizabeth M Renyi Seu Board Of Trustees Co-Chair | OfficerTrustee | 1 | $0 |
Ronald H Lataille Seu Board Of Trustees Co-Chair | OfficerTrustee | 1 | $0 |
Marcia Y Cantarella Trustee | Trustee | 1 | $0 |
Sister Maureen Dunne Trustee | Trustee | 1 | $0 |
Sister Deborah Humphreys Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parkhurst Dining Food Services | 6/29/22 | $1,476,617 |
C&w Services Cleaning Services | 6/29/22 | $723,500 |
Binsky Service General Contractor | 6/29/22 | $479,729 |
William H Connolly & Co Llc Risk Management | 6/29/22 | $402,126 |
Ssc Inc Security Services | 6/29/22 | $434,661 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,611 |
| Related organizations | $5,000 |
| Government grants | $6,352,077 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,648,467 |
| Noncash contributions included in lines 1a–1f | $12,766 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,033,155 |
| Total Program Service Revenue | $31,848,810 |
| Investment income | $521,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $496,230 |
| Net Gain/Loss on Asset Sales | $1,189,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,508,432 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,067,155 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $544,800 |
| Compensation of current officers, directors, key employees. | $89,397 |
| Compensation to disqualified persons | $35,967 |
| Other salaries and wages | $12,724,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,316,662 |
| Payroll taxes | $1,366,641 |
| Fees for services: Management | $196,544 |
| Fees for services: Legal | $31,462 |
| Fees for services: Accounting | $137,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $61,001 |
| Fees for services: Investment Management | $154,947 |
| Fees for services: Other | $6,229,494 |
| Advertising and promotion | $510,408 |
| Office expenses | $790,297 |
| Information technology | $127,111 |
| Royalties | $0 |
| Occupancy | $1,907,494 |
| Travel | $194,273 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $380,012 |
| Interest | $1,077,850 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,732,782 |
| Insurance | $36,771 |
| All other expenses | $232,616 |
| Total functional expenses | $44,012,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,550,015 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,544,032 |
| Accounts receivable, net | $1,196,879 |
| 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 | $304,325 |
| Net Land, buildings, and equipment | $35,284,189 |
| Investments—publicly traded securities | $13,808,567 |
| Investments—other securities | $10,021,228 |
| Investments—program-related | $359,665 |
| Intangible assets | $0 |
| Other assets | $2,872,805 |
| Total assets | $71,941,705 |
| Accounts payable and accrued expenses | $3,794,360 |
| Grants payable | $0 |
| Deferred revenue | $1,447,453 |
| Tax-exempt bond liabilities | $21,114,274 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,663,571 |
| Unsecured mortgages and notes payable | $593,932 |
| Other liabilities | $1,143,051 |
| Total liabilities | $29,756,641 |
| Net assets without donor restrictions | $18,822,447 |
| Net assets with donor restrictions | $23,362,617 |
| 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 | $71,941,705 |