Benedictine University
- Assets
- $176.2m
- Revenue
- $96.1m
- Investments
- $14.6m
- Employees
- 1,087
- Location
- Lisle, IL
- Founding
- 03/1946
- Data as of
- 05/2023
- EIN
- 36-2722198
Organization Overview
Benedictine University is located in Lisle, IL. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Benedictine University employed 1,087 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benedictine 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 05/2023, Benedictine University generated $96.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $97.5m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BENEDICTINE UNIVERSITY IS AN INCLUSIVE ACADEMIC COMMUNITY DEDICATED TO TEACHING AND LEARNING, SCHOLARSHIP AND SERVICE, TRUTH AND JUSTICE, AS INSPIRED BY THE CATHOLIC INTELLECTUAL TRADITION, THE SOCIAL TEACHING OF THE CHURCH, AND THE PRINCIPLES OF WISDOM IN THE RULE OF ST. BENEDICT.
Describe the Organization's Program Activity:
BENEDICTINE UNIVERSITY BELIEVES THAT A BROAD-BASED, LIBERAL ARTS EDUCATION PROVIDES STUDENTS WITH A CONCRETE FOUNDATION FOR A LIFETIME OF CHANGE AND IS THE BEST PREPARATION FOR LIFE-LONG LEARNING. A BENEDICTINE EDUCATION PREPARES STUDENTS TO COMMUNICATE EFFECTIVELY, TO REASON AND MAKE INFORMED JUDGMENTS, TO IDENTIFY AND SOLVE PROBLEMS, TO DEVELOP A SENSE OF INTELLECTUAL CURIOSITY, TO PURSUE AND COMMUNICATE THE TRUTH, AND TO CONFRONT AND RESOLVE ETHICAL ISSUES. THE UNIVERSITY'S STUDENT-TO-FACULTY RATIO OF 11:1 PROMOTES A LEARNING ENVIRONMENT IN WHICH STUDENTS CAN FORM AND NURTURE RELATIONSHIPS WITH INSTRUCTORS AND CLASSMATES. THE UNIVERSITY OFFERS 42 MAJOR PROGRAMS, 14 MASTERS + DOCTORAL PROGRAMS, AND 8 CERTIFICATE PROGRAMS TO STUDENTS, WITH ENROLLMENT OF 3,123 UNDERGRADUATE AND GRADUATE STUDENTS DURING THE 2022-2023 ACADEMIC YEAR. THESE PROGRAMS ARE SUPPLEMENTED THROUGH THE UNIVERSITY'S 35 STUDENT ORGANIZATIONS, 8 CLUB SPORT PROGRAMS, AND 16 NCAA DIVISION III INTERCOLLEGIATE ATHLETIC PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed President | OfficerTrustee | 40 | $462,284 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Past Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiley Edu Llc Marketing & Recruting For Online Programs | 5/30/23 | $3,044,613 |
Clean Sweep Building Services Llc Property Maintenance | 5/30/23 | $726,269 |
Amar Properties Holding Llc Property Management | 5/30/23 | $327,982 |
Green Closet Creative Marketing | 5/30/23 | $311,239 |
Scholarbuys Llc It Consulting | 5/30/23 | $156,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $5,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,471,965 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,863,046 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,340,011 |
| Total Program Service Revenue | $80,919,176 |
| Investment income | $916,618 |
| Tax Exempt Bond Proceeds | $34,303 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$63,961 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,146,147 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,619,411 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $881,817 |
| Compensation of current officers, directors, key employees. | $601,180 |
| Compensation to disqualified persons | $50,000 |
| Other salaries and wages | $27,507,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,272,697 |
| Payroll taxes | $2,053,221 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $161,954 |
| Fees for services: Accounting | $170,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $168,757 |
| Fees for services: Other | $222,227 |
| Advertising and promotion | $665,316 |
| Office expenses | $1,417,770 |
| Information technology | $1,888,391 |
| Royalties | $0 |
| Occupancy | $3,572,910 |
| Travel | $1,504,492 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59,791 |
| Interest | $2,010,177 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,119,944 |
| Insurance | $702,048 |
| All other expenses | $3,454,097 |
| Total functional expenses | $97,492,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,857,021 |
| Savings and temporary cash investments | $3,111,864 |
| Pledges and grants receivable | $12,495,339 |
| Accounts receivable, net | $4,272,317 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $538,129 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $724,787 |
| Net Land, buildings, and equipment | $94,943,050 |
| Investments—publicly traded securities | $23,023,021 |
| Investments—other securities | $14,642,754 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,581,903 |
| Total assets | $176,190,185 |
| Accounts payable and accrued expenses | $8,373,652 |
| Grants payable | $0 |
| Deferred revenue | $4,466,139 |
| Tax-exempt bond liabilities | $52,612,657 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,798,152 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,346,368 |
| Total liabilities | $76,596,968 |
| Net assets without donor restrictions | $72,803,105 |
| Net assets with donor restrictions | $26,790,112 |
| 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 | $176,190,185 |