Lackawanna College
- Assets
- $71.7m
- Revenue
- $40.1m
- Investments
- $2.5m
- Employees
- 680
- Location
- Scranton, PA
- Founding
- 03/1960
- Data as of
- 06/2022
- EIN
- 24-0839402
Organization Overview
Lackawanna College is located in Scranton, PA. The organization was established in 1960. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Lackawanna College employed 680 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lackawanna College 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, Lackawanna College generated $40.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $37.0m during the year ending 06/2022. While expenses have increased by 5.6% 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
LACKAWANNA COLLEGE IS AN ACCREDITED, PRIVATE, NON-PROFIT HIGHER EDUCATIONAL INSTITUTION WHOSE MISSION IS TO PROVIDE A QUALITY EDUCATION TO ALL PERSONS WHO SEEK TO IMPROVE THEIR LIVES AND BETTER THE COMMUNITIES IN WHICH THEY LIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION AND FEES FOR UNDERGRADUATE STUDENTS. LACKAWANNA COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION. THE INSTITUTION OFFERS 23 ASSOCIATE DEGREE PROGRAMS AND 8 BACHELOR DEGREE PROGRAMS TO ITS UNDERGRADUATE STUDENT POPULATION. IN FALL 2021, LACKAWANNA ENROLLED NEARLY 1,800 UNDERGRADUATE STUDENTS.
AUXILIARY ENTERPRISE REVENUE. NINETY-NINE PERCENT (99%) OF LACKAWANNA COLLEGE'S AUXILIARY ENTERPRISE REVENUE IS GENERATED BY OFFERING HOUSING AND FOOD SERVICE TO APPROXIMATELY 300 STUDENTS IN COLLEGE-OWNED FACILITIES.
CONTINUING EDUCATION AND MISCELLANEOUS PROGRAM REVENUE. LACKAWANNA COLLEGE OPERATES A CONTINUING EDUCATION DEPARTMENT THAT ADDRESSES THE EDUCATIONAL NEEDS OF THE COMMUNITY THAT DO NOT FALL UNDER THE TRADITIONAL COLLEGE CREDIT STRUCTURE. THROUGH THE DEPARTMENT, THE COLLEGE OFFERS A DIPLOMA PROGRAM IN ITS ACT 120 POLICE ACADEMY AND VARIOUS CERTIFICATE AND WORKFORCE DEVELOPMENT PROGRAMS, INCLUDING PROGRAMS FUNDED UNDER THE TRADE ADJUSTMENT ASSISTANCE FOR WORKERS AND WORKFORCE INNOVATION AND OPPORTUNITY ACTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Bailey Trustee | Trustee | 1 | $0 |
Jody Cordaro Secretary | Trustee | 1 | $0 |
Dominick Denaples Trustee | Trustee | 1 | $0 |
Tom Depietro Trustee | Trustee | 1 | $0 |
Mark Destefano Trustee | Trustee | 1 | $0 |
Christina Curran Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Craft & Associates Inc Marketing Service | 6/29/22 | $805,890 |
Metz Culinary Management Food Service | 6/29/22 | $793,938 |
Northeast Custom Builders Llc Construction | 6/29/22 | $205,585 |
Postler & Jaeckle Corportation Mechanical Contractor | 6/29/22 | $206,683 |
Universal Protection Services Llc Security | 6/29/22 | $188,362 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,524,213 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,097,732 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,621,945 |
| Total Program Service Revenue | $29,519,306 |
| Investment income | $324,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $42,077 |
| Net Rental Income | $34,979 |
| Net Gain/Loss on Asset Sales | $495,509 |
| Net Income from Fundraising Events | $70,158 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,108,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,265,460 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $851,243 |
| Compensation of current officers, directors, key employees. | $746,263 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,799,032 |
| Pension plan accruals and contributions | $505,559 |
| Other employee benefits | $3,119,505 |
| Payroll taxes | $1,032,455 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $168,547 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $811,889 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,552,525 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $612,831 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,554,439 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $36,959,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,581,535 |
| Savings and temporary cash investments | $10,168,496 |
| Pledges and grants receivable | $344,185 |
| Accounts receivable, net | $810,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $96,939 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $708,944 |
| Net Land, buildings, and equipment | $41,478,475 |
| Investments—publicly traded securities | $11,450,299 |
| Investments—other securities | $2,475,798 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $548,846 |
| Total assets | $71,664,189 |
| Accounts payable and accrued expenses | $2,921,612 |
| Grants payable | $0 |
| Deferred revenue | $271,355 |
| 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 | $16,922,471 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,115,438 |
| Net assets without donor restrictions | $45,222,763 |
| Net assets with donor restrictions | $6,325,988 |
| 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 | $71,664,189 |