Rockford University
- Assets
- $59.3m
- Revenue
- $42.6m
- Investments
- $12.3m
- Employees
- 633
- Location
- Rockford, IL
- Founding
- 05/1937
- Data as of
- 06/2021
- EIN
- 36-2167842
Organization Overview
Rockford University is located in Rockford, IL. The organization was established in 1937. 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, Rockford University employed 633 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockford 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 06/2021, Rockford University generated $42.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $39.7m during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE MEN & WOMEN TO LEAD RESPONSIBLE LIVES BY MEANS OF A CURRICULUM GROUNDED IN LIBERAL ARTS LEARNING AND COMPLEMENTED AND EXTENDED BY PROFESSIONAL AND PRACTICAL EXPERIENCE. THROUGH THE TOTAL ACADEMIC AND CO-CURRICULAR EXPERIENCE, ROCKFORD UNIVERSITY STRIVES TO PREPARE STUDENTS FOR FULFILLING LIVES, CAREERS AND PARTICIPATION IN A MODERN AND CHANGING GLOBAL SOCIETY.
Describe the Organization's Program Activity:
FOUR YEAR GRADUATE AND UNDERGRADUATE COLLEGE IN ROCKFORD, IL.
OPERATIONS AND MAINTENANCE OF PLANT FOR FOUR YEAR GRADUATE AND UNDERGRADUATE UNIVERSITY.
AUXILIARY ENTERPRISES (RESIDENCE HALLS AND DINING SERVICES)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric W Fulcomer President | OfficerTrustee | 40 | $295,092 |
Lisa Custardo VP Finance & CFO | Officer | 40 | $143,221 |
Michael Perry Provost & VP Academic Affairs | Officer | 40 | $127,622 |
Stephen Kull VP For Advancement | Officer | 40 | $126,628 |
Randy Worden VP Student Life & Dean Of | Officer | 40 | $117,800 |
Christina Anderson Sr Vp, Professor | 40 | $105,625 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Campus Operations & Maintenance And Food | 6/29/21 | $2,732,171 |
Scandroli Construction Company Construction | 6/29/21 | $2,102,795 |
Commercial Mechanical Inc Construction | 6/29/21 | $1,102,404 |
Ruffalo Noel Levitz Enrollment Services | 6/29/21 | $381,326 |
Ceroni Piping Company Hvac & Plumbing Services | 6/29/21 | $286,716 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,140,764 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,517,185 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,657,949 |
| Total Program Service Revenue | $36,352,116 |
| Investment income | $219,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $81,295 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $158,820 |
| Net Income from Fundraising Events | $31,283 |
| Net Income from Gaming Activities | $2,415 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,582,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,913,280 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $923,797 |
| Compensation of current officers, directors, key employees. | $538,273 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,613,184 |
| Pension plan accruals and contributions | $344,212 |
| Other employee benefits | $1,189,383 |
| Payroll taxes | $737,031 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,663 |
| Fees for services: Accounting | $73,593 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,862 |
| Fees for services: Other | $2,410,741 |
| Advertising and promotion | $203,891 |
| Office expenses | $360,433 |
| Information technology | $798,194 |
| Royalties | $0 |
| Occupancy | $1,121,965 |
| Travel | $67,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,693 |
| Interest | $386,058 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,769,637 |
| Insurance | $284,570 |
| All other expenses | $0 |
| Total functional expenses | $39,679,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,614,598 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $238,499 |
| Accounts receivable, net | $1,980,691 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,909,119 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $538,968 |
| Net Land, buildings, and equipment | $19,349,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,275,435 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,385,734 |
| Total assets | $59,292,959 |
| Accounts payable and accrued expenses | $1,847,358 |
| Grants payable | $0 |
| Deferred revenue | $368,375 |
| Tax-exempt bond liabilities | $3,593,981 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,992,835 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,489,222 |
| Total liabilities | $12,291,771 |
| Net assets without donor restrictions | $6,530,881 |
| Net assets with donor restrictions | $40,470,307 |
| 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 | $59,292,959 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rockford University has recieved totaling $16,000.
| Awarding Organization | Amount |
|---|---|
Rydell Family Foundation Rockford, IL PURPOSE: EDUCATIONAL | $10,000 |
Richard G Wood Forreston High School Scholarship Fund Rockford, IL PURPOSE: SCHOLARSHIP DISTRIBUTION | $6,000 |
Endowment Analysis
| Beg. Balance | $9,322,304 |
| Earnings | $2,518,334 |
| Net Contributions | $190,947 |
| Other Expense | -$252,550 |
| Grants | $8,700 |
| Ending Balance | $12,275,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of The Cumberlands Inc Williamsburg, KY | $474,140,732 | $211,155,067 |
National-Louis University Wheeling, IL | $128,972,894 | $126,590,535 |
Carthage College Kenosha, WI | $408,772,143 | $125,157,339 |
Saint Xavier University Chicago, IL | $126,945,077 | $117,823,501 |
Rockhurst University Kansas City, MO | $176,706,478 | $126,555,115 |
Dominican University River Forest, IL | $154,609,403 | $111,703,155 |
University Of Evansville Evansville, IN | $383,851,853 | $114,850,213 |
St Ambrose University Davenport, IA | $330,550,712 | $111,513,726 |
Benedictine University Lisle, IL | $178,325,344 | $99,425,882 |
Columbia College Columbia, MO | $267,475,036 | $84,570,180 |
University Of Dubuque Dubuque, IA | $403,203,443 | $110,402,473 |
Concordia University Chicago River Forest, IL | $86,542,696 | $102,736,797 |