Eastern University
- Assets
- $97.7m
- Revenue
- $80.2m
- Investments
- $0.0
- Employees
- 1,311
- Location
- St Davids, PA
- Founding
- 11/1953
- Data as of
- 06/2020
- EIN
- 23-1409675
Organization Overview
Eastern University is located in St Davids, PA. The organization was established in 1953. 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, Eastern University employed 1,311 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern 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, Eastern University generated $80.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $80.7m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EASTERN UNIVERSITY IS A DIVERSE, CHRIST-CENTERED COMMUNITY PREPARING GRADUATES TO IMPACT THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - EXPENDITURES FOR ALL ACTIVITIES THROUGH WHICH STUDENTS EARN CREDIT TOWARD POSTSECONDARY DEGREES OR CERTIFICATES, AND THE SUPPORT SERVICES FOR THE DELIVERY OF INSTRUCTION. INCLUDES EXPENDITURES FOR CURRICULUM DEVELOPMENT, DEPARTMENTAL RESEARCH, EDUCATION MATERIALS (E.G., LIBRARIES), LABORATORIES AND OTHER SERVICES THAT DIRECTLY ASSIST THE INSTITUTION'S ACADEMIC FUNCTIONS, FACULTY DEVELOPMENT, AND ACADEMIC ADMINISTRATION.
STUDENT SERVICES - FUNDS EXPENDED FOR OFFICES OF ADMISSIONS AND REGISTRAR AND THOSE ACTIVITIES THAT CONTRIBUTE TO THE EMOTIONAL AND PHYSICAL WELLBEING OF STUDENTS, AS WELL AS THEIR INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE OF THE CONTEXT OF THE FORMAL INSTRUCTIONAL ENVIRONMENT INCLUDING STUDENT ACTIVITIES, COUNSELING AND CAREER GUIDANCE, INTERCOLLEGIATE ATHLETICS, AND STUDENT ORGANIZATIONS.
AUXILIARY AND OTHER OPERATIONS - FUNDS EXPENDED FOR AUXILIARY ENTERPRISES THAT GENERALLY OPERATE AS SELF-SUPPORTING PROGRAMS BY CHARGING FEES FOR THE PROVISION OF GOODS AND SERVICES; ALSO INCLUDES EXPENDITURES FOR INSTITUTIONAL SUPPORT AND PLANT OPERATIONS ATTRIBUTABLE AND/OR ALLOCABLE TO THE PROGRAMMATIC DEPARTMENTS OF THE INSTITUTION.
ACADEMIC SUPPORT - FUNDS EXPENDED TO PROVIDE SUPPORT SERVICES FOR THE CORE, INSTRUCTIONAL MISSION OF THE UNIVERSITY INCLUDING OPERATION OF LIBRARIES AND LABORATORIES, INSTRUCTIONAL TECHNOLOGIES, ASSESSMENT, AND ACADEMIC ADMINISTRATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Matthews President | OfficerTrustee | 40 | $347,018 |
J Pernell Jones VP For Finance & Operations | Officer | 40 | $146,657 |
Kenton Sparks Provost | Officer | 40 | $134,640 |
Christine Mahan VP For Inst Research & Assessment | Officer | 40 | $134,452 |
Eric Mccloy Chief Information Officer | 40 | $128,278 | |
Albert Socci Dean - College Of Business | 40 | $120,777 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Csi International Facility Services | 6/29/21 | $786,839 |
Tustin Mechanical Service Mechanical Services | 6/29/21 | $445,498 |
Sodexo Inc Dining Services | 6/29/21 | $1,998,739 |
Whole Health Co Llc Health Care Services | 6/29/21 | $278,075 |
Blackman & Co Inc Building Construction | 6/29/21 | $441,682 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,862,154 |
| Investment income | $717,526 |
| Tax Exempt Bond Proceeds | $52,606 |
| Royalties | $0 |
| Net Rental Income | $11,601 |
| Net Gain/Loss on Asset Sales | -$458,092 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,183,384 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $29,507,218 |
| Grants and other assistance to Foreign Orgs/Individuals | $304,787 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,027,158 |
| Compensation to disqualified persons | $271,246 |
| Other salaries and wages | $21,593,610 |
| Pension plan accruals and contributions | $1,201,019 |
| Other employee benefits | $4,473,493 |
| Payroll taxes | $1,572,254 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $98,497 |
| Fees for services: Accounting | $115,203 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $11,000 |
| Fees for services: Investment Management | $30,702 |
| Fees for services: Other | $1,991,666 |
| Advertising and promotion | $1,637,592 |
| Office expenses | $1,479,551 |
| Information technology | $1,482,903 |
| Royalties | $0 |
| Occupancy | $1,954,258 |
| Travel | $1,072,386 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,686 |
| Interest | $1,403,073 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,015,756 |
| Insurance | $292,917 |
| All other expenses | $0 |
| Total functional expenses | $80,712,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,752 |
| Savings and temporary cash investments | $9,908,042 |
| Pledges and grants receivable | $58,500 |
| Accounts receivable, net | $5,558,512 |
| 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 | $1,544,337 |
| Investments—publicly traded securities | $28,619,186 |
| Investments—other securities | $0 |
| Investments—program-related | $498,015 |
| Intangible assets | $0 |
| Other assets | $10,031,272 |
| Total assets | $97,736,290 |
| Accounts payable and accrued expenses | $4,435,131 |
| Grants payable | $0 |
| Deferred revenue | $3,923,581 |
| Tax-exempt bond liabilities | $28,797,886 |
| 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 | $2,157,857 |
| Total liabilities | $39,314,455 |
| 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 | $58,421,835 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that Eastern University has recieved totaling $1,570,840.
| Awarding Organization | Amount |
|---|---|
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $1,000,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $146,100 |
Eula Mae And John Baugh Foundation Jersey Village, TX PURPOSE: CHRISTIANS FOR SOCIAL ACTION, CAMPOLO CENTER FOR MINISTRY | $86,000 |
Rockley Family Foundation Inc Golden, CO PURPOSE: Education of Students | $55,580 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $50,000 |
Robert & Sara S Comloquoy Char Fd Td 1513076670 Las Vegas, NV PURPOSE: GENERAL OPERATING | $48,800 |
Endowment Analysis
| Beg. Balance | $29,772,965 |
| Earnings | $6,060,035 |
| Net Contributions | $146,605 |
| Other Expense | $1,119,949 |
| Grants | $447,432 |
| Ending Balance | $34,412,224 |
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 |
University Of Dayton Dayton, OH | $1,782,604,426 | $747,930,230 |
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 |