Mercyhurst University
- Assets
- $174.9m
- Revenue
- $158.7m
- Investments
- $0.0
- Employees
- 1,744
- Location
- Erie, PA
- Founding
- 01/1960
- Data as of
- 05/2021
- EIN
- 25-0965430
Organization Overview
Mercyhurst University is located in Erie, PA. The organization was established in 1960. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Mercyhurst University employed 1,744 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercyhurst 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 05/2021, Mercyhurst University generated $158.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $151.9m during the year ending 05/2021. While expenses have increased by 1.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MERCYHURST UNIVERSITY IS A FULLY ACCREDITED, FOUR-YEAR, CATHOLIC COMPREHENSIVE INSTITUTION FOUNDED BY THE SISTERS OF MERCY IN 1926. THE ERIE (PA.) CAMPUS OFFERS SIXTY-FIVE (65) UNDERGRADUATE MAJORS WITH SEVENTY (70) MINORS, AS WELL AS UNIQUE ADULT PROGRAMS AND THIRTEEN (13) GRADUATE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT THE FALL CENSUS DATE DURING THE 2022-23 ACADEMIC YEAR THERE WERE 2814 STUDENTS ENROLLED IN UNDERGRADUATE, GRADUATE, AND ASSOCIATE DEGREE PROGRAMS AT THE MAIN CAMPUS IN ERIE (2801) AND OTHER SATELLITES (13) . THE STUDENT POPULATION WAS COMPRISED OF 2249 FULL-TIME AND 197 PART-TIME UNDERGRADUATE STUDENTS ALONG WITH 228 FULL-TIME AND 127 PART-TIME GRADUATE STUDENTS. ADDITIONALLY, THERE WERE 13 MUNICIPAL POLICE ACADEMY STUDENTS. THERE WERE 145 FULL-TIME AND 93 PART-TIME FACULTY. DURING THE ACADEMIC YEAR, 847 TOTAL DEGREES WERE CONFERRED IN THE FOLLOWING CATEGORIES: BACCALAUREATE 489, ASSOCIATE 97, MASTERS 204, UG CERTIFICATES 45 AND GRAD CERTIFICATES 12. THE UNIVERSITY OFFERED 13 GRADUATE PROGRAMS, 65 UNDERGRADUATE MAJORS WITH 70 MINORS, AND 9 ASSOCIATE DEGREE PROGRAMS.
ALL OTHER PROGRAM RELATED ACTIVITIES.
AUXILIARY SERVICES INCLUDES STUDENT HOUSING, FOODSERVICE, THE UNIVERSITY BOOKSTORE AND THE UNIVERSITY'S CONFERENCE CENTER ON THE MAIN CAMPUS. THE TOTAL STUDENT POPULATION IN UNIVERSITY HOUSING ON THE MAIN CAMPUS WAS 1,705 FOR THE 2022-23 FISCAL YEAR. 1,531 STUDENTS AT THE MAIN CAMPUS HAD PAID MEAL PLANS WHILE MANY OTHER STUDENTS AND EMPLOYEES DINE IN UNIVERSITY FACILITIES ON A PAY-AS-YOU-GO BASIS. THE UNIVERSITY MAINTAINS A BOOKSTORE ON THE MAIN CAMPUS. THE UNIVERSITY HAS A CONFERENCE CENTER FACILITY AT THE MAIN CAMPUS AND REGULARLY HOSTS OUTSIDE GROUPS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Getz Kathleen A President And Board Of Trustees | Officer | 45 | $381,212 |
Veitch Dionne N VP Of Enrollment | Officer | 45 | $122,321 |
Heller Michael E Vice President Of Finance | Officer | 45 | $169,472 |
Martin John J Cvc Hidta Executive Director | 45 | $190,045 | |
Newhook Robin L Associate Professor Of Pa Program | 45 | $125,079 | |
Hartman Gary Deputy Director Of Hidta | 45 | $181,822 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parkhurst Dining Services Dining Services | 5/30/23 | $8,488,106 |
Aramark Corporation Maintenance | 5/30/23 | $4,940,097 |
Velocity Network Managed It Services | 5/30/23 | $542,073 |
Mccreary Roofing Roofing Repairs | 5/30/23 | $422,771 |
Ellucian Software And Services | 5/30/23 | $344,317 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,329,348 |
| Investment income | $577,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $600 |
| Net Rental Income | $30,008 |
| Net Gain/Loss on Asset Sales | $825,663 |
| Net Income from Fundraising Events | $145,665 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,652,157 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $60,076,441 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,646,211 |
| Compensation to disqualified persons | $270,176 |
| Other salaries and wages | $27,149,457 |
| Pension plan accruals and contributions | $1,021,485 |
| Other employee benefits | $7,375,395 |
| Payroll taxes | $1,861,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $119,846 |
| Fees for services: Accounting | $105,386 |
| Fees for services: Lobbying | $37,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,507 |
| Fees for services: Other | $17,947,368 |
| Advertising and promotion | $522,985 |
| Office expenses | $6,347,313 |
| Information technology | $3,366,227 |
| Royalties | $0 |
| Occupancy | $3,582,389 |
| Travel | $746,002 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $299,458 |
| Interest | $3,191,402 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,533,993 |
| Insurance | $885,596 |
| All other expenses | $0 |
| Total functional expenses | $151,916,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,769,483 |
| Pledges and grants receivable | $8,503,400 |
| Accounts receivable, net | $1,430,110 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,105,046 |
| Inventories for sale or use | $310,294 |
| Prepaid expenses and deferred charges | $1,053,353 |
| Investments—publicly traded securities | $39,130,587 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $174,865,954 |
| Accounts payable and accrued expenses | $13,354,544 |
| Grants payable | $0 |
| Deferred revenue | $3,543,106 |
| Tax-exempt bond liabilities | $47,461,575 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,801,755 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,368,874 |
| Total liabilities | $67,529,854 |
| 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 | $107,336,100 |
Grants Awarded
Over the last fiscal year, Mercyhurst University has awarded $60,366 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY & ECONOMIC DEVELOPMENT DEPARTMENT PURPOSE: Support the Erie Downtown Development Corporation Fund | $50,000 |
SAFENET PURPOSE: To provide services to people victimized by domestic violence and relationship abuse. | $10,366 |