Pennsylvania Institue Of Technology
- Assets
- $8.4m
- Revenue
- $13.2m
- Investments
- $216.8k
- Employees
- 122
- Location
- Media, PA
- Founding
- 02/1976
- Data as of
- 06/2022
- EIN
- 23-1543518
Organization Overview
Pennsylvania Institue Of Technology is located in Media, PA. The organization was established in 1976. 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, Pennsylvania Institue Of Technology employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Institue 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, Pennsylvania Institue Of Technology generated $13.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $9.6m during the year ending 06/2022. 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 PROVIDE STUDENT SUCCESS BY OFFERING THE BEST COLLEGIATE EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
P.I.T.'S ACADEMIC PROGRAMS ARE ORGANIZED INTO ASSOCIATE DEGREE AND CAREER CERTIFICATE OPTIONS. MANY OF THE PROGRAMS PREPARE GRADUATES TO OBTAIN STATE OR NATIONAL INDUSTRY CERTIFICATION IN THEIR FIELD. ASSOCIATE DEGREE TECHNOLOGY PROGRAMS INCLUDE BIOMEDICAL EQUIPMENT ENGINEERING, BEHAVIORAL HEALTH, CRIMINAL JUSTICE, GENERAL STUDIES, COMPUTER SUPPORT ENGINEERING, HEALTH SCIENCE, HEALTHCARE MANAGEMENT, ENGINEERING, BUSINESS MANAGEMENT, ALLIED HEALTH, PHYSICAL THERAPIST ASSISTANT. THROUGH ITS SCHOOL OF PROFESSIONAL PROGRAMS, P.I.T. OFFERS CAREER CERTIFICATES IN PRACTICAL NURSING, MEDICAL ASSISTING, DIGITAL MEDICAL SONOGRAPHY AND CANNABIS.STUDENTS IN ASSOCIATE DEGREE PROGRAMS EARN TRANSFERABLE COLLEGE CREDITS. STUDENTS IN ALLIED HEALTH CAREER CERTIFICATE PROGRAMS, UPON GRADUATION, MAY FURTHER THEIR EDUCATION AT P.I.T. BY COMPLETING ADDITIONAL REQUIRED COURSES TO EARN AN ASSOCIATE DEGREE IN ALLIED HEALTH TECHNOLOGY. ASSOCIATE DEGREE GRADUATES MAY TRANSFER THEIR CREDITS TO ONE OF THE MANY COLLEGES AND UNIVERSITIES WITH WHOM THE COLLEGE HAS ESTABLISHED MATRICULATION AGREEMENTS.IN ADDITION TO P.I.T.'S NATIONALLY RECOGNIZED ACADEMIC DEVELOPMENTAL PROGRAM AND LIBRARY SERVICES, STUDENT SUPPORT PROGRAMS INCLUDE CAREER PLANNING, COLLEGE SUCCESS WORKSHOPS, TUTORING, ACADEMIC SUPPORT COUNSELING, AND CAREER PLACEMENT. THE COLLEGE ALSO PROVIDES FULL AND PARTIAL SCHOLARSHIPS TO MANY STUDENTS WHO WOULD OTHERWISE NOT BE FINANCIALLY ABLE TO PURSUE A COLLEGIATE TECHNICAL EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Bacon Trustee (until 5/22) | Trustee | 1 | $0 |
Dr Thomas E Mcduffie Jr Board Chairman/secretary | OfficerTrustee | 1 | $0 |
Richard H Doyle CPA Treasurer | OfficerTrustee | 1 | $0 |
Antinuke Moss JD Trustee | Trustee | 1 | $0 |
William E Schmidt MBA Trustee | Trustee | 1 | $0 |
Susan Steele Pe Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,836,503 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,587 |
| Noncash contributions included in lines 1a–1f | $100,471 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,007,090 |
| Total Program Service Revenue | $11,222,595 |
| Investment income | $10,877 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,987 |
| Net Gain/Loss on Asset Sales | $500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $59 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,243,605 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $73,335 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $408,784 |
| Compensation of current officers, directors, key employees. | $325,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,884,357 |
| Pension plan accruals and contributions | $166,037 |
| Other employee benefits | $260,345 |
| Payroll taxes | $443,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $71,895 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,369 |
| Advertising and promotion | $278,585 |
| Office expenses | $938,759 |
| Information technology | $12,864 |
| Royalties | $0 |
| Occupancy | $89,353 |
| Travel | $6,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,229 |
| Interest | $9,850 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $230,174 |
| Insurance | $122,191 |
| All other expenses | $162,995 |
| Total functional expenses | $9,626,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,158,006 |
| Savings and temporary cash investments | $505,218 |
| Pledges and grants receivable | $20,779 |
| Accounts receivable, net | $184,021 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,870 |
| Prepaid expenses and deferred charges | $244,952 |
| Net Land, buildings, and equipment | $1,964,268 |
| Investments—publicly traded securities | $1,935,432 |
| Investments—other securities | $216,810 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $67,435 |
| Total assets | $8,362,791 |
| Accounts payable and accrued expenses | $376,997 |
| Grants payable | $0 |
| Deferred revenue | $101,130 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $478,127 |
| Net assets without donor restrictions | $7,680,049 |
| Net assets with donor restrictions | $204,615 |
| 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 | $8,362,791 |