Lynn University Inc
- Assets
- $204.0m
- Revenue
- $119.5m
- Investments
- $38.8m
- Employees
- 1,387
- Location
- Boca Raton, FL
- Founding
- 12/1972
- Data as of
- 06/2021
- EIN
- 59-1023117
Organization Overview
Lynn University Inc is located in Boca Raton, FL. The organization was established in 1972. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Lynn University Inc employed 1,387 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynn University Inc 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, Lynn University Inc generated $119.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $119.2m during the year ending 06/2021. While expenses have increased by 3.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LYNN UNIVERSITY IS TO PROVIDE AN INNOVATIVE, GLOBAL AND PERSONALIZED EDUCATION THAT ENABLES STUDENTS TO REALIZE THEIR POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNIVERSITY OFFERS BACHELOR'S AND MASTER'S DEGREES AND A DOCTORAL DEGREE. THE ACADEMIC PROGRAM IS DESIGNED FOR TRADITIONAL-AGED STUDENTS, AS WELL AS A GROWING POPULATION OF ADULT LEARNERS. LYNN UNIVERSITY HAS MORE THAN 3,300 STUDENTS FROM MORE THAN 100 COUNTRIES AN NEARLY ALL 50 STATES. THE UNIVERSITY OFFERS 42 UNDERGRADUATE MAJORS, 14 GRADUATE MAJORS AND 39 GRADUATE SPECIALIZATIONS. LYNN UNIVERSITY IS PROUD OF ITS TRADITION OF EDUCATING STUDENTS WHO ASSUME POSITIONS OF RESPONSIBILITY AND BECOME LEADERS IN THEIR CHOSEN PROFESSIONS. THE UNIVERSITY IS COMMITTED TO STUDENT-CENTERED LEARNING, WHERE FACULTY AND STAFF PROVIDE PERSONALIZED ATTENTION TO STUDENTS WHO HAVE VARYING LEVELS OF ACADEMIC PROFICIENCY AND ARE MOTIVATED TO EXCEL. (CONTINUED ON SCH O)
A PROGRAM OF ACTIVITIES COMPLEMENTS THE ACADEMIC CURRICULUM. STUDENTS CHOOSE THOSE ACTIVITIES THAT WILL CONTRIBUTE TO THEIR PERSONAL DEVELOPMENT AND ENJOYMENT - STUDENT GOVERNMENT, SERVICE CLUBS, SPORTS, SOCIAL FRATERNITIES, AND NUMEROUS SPECIAL INTEREST ORGANIZATIONS. SOCIAL ACTIVITIES INCLUDE GAME SHOWS, DANCES, COMEDIANS, LIVE MUSIC, INTERNATIONAL FESTIVALS, FILMS, POOL PARTIES, SPORTS DAYS, INTRAMURAL SPORTS, AWARD DINNERS AND NOVELTY ENTERTAINMENT. INDIVIDUAL INTERESTS RANGING FROM THE FINE ARTS TO PROFESSIONAL FOOTBALL, BASEBALL, BASKETBALL AND HOCKEY TO GOURMET DINING CAN BE FOUND IN SOUTH FLORIDA. LYNN UNIVERSITY HOLDS MEMBERSHIP IN THE NATIONAL COLLEGIATE ATHLETIC ASSOCIATION (NCAA), DIVISION II, AND THE SUNSHINE STATE ATHLETIC CONFERENCE. (CONTINUED ON SCH O)
THE UNIVERSITY MAINTAINS SIX RESIDENCE HALLS THAT PROVIDE FULL LIVING ACCOMMODATIONS FOR THE UNDERGRADUATE AND GRADUATE STUDENT POPULATION. EACH ROOM IS FURNISHED TO MEET STUDENTS' NEEDS, INCLUDING TV CABLE AND WIRELESS INTERNET SERVICE. MOST STUDENTS LIVING ON CAMPUS ARE REQUIRED TO BE ON THE UNIVERSITY MEAL PLAN. SODEXO IS THE FOOD SERVICE VENDOR, AND THE CULINARY EXPERIENCE INCLUDES 24/7 DINING. COMMUTER STUDENTS, FACULTY, STAFF AND VISITORS CAN PURCHASE BLOCK MEAL PLANS. THE LYNN UNIVERSITY CAMPUS STORE OFFERS SCHOOL-BRANDED CLOTHING, ACCESSORIES, AND VARIOUS OTHER SUPPLIES.
CLASSICAL MUSIC IS PROVIDED TO THE UNIVERSITY COMMUNITY AS WELL AS THE GENERAL PUBLIC BY STUDENTS AND FACULTY BY THE LYNN UNIVERSITY CONSERVATORY OF MUSIC. ADDITIONALLY, STUDENTS IN THE DRAMA B.F.A. PROGRAM AND PROFESSIONAL ACTORS AND MUSICIANS PERFORM ON CAMPUS IN THE PERFORMING ARTS CENTER. MANY OPPORTUNITIES TO SHARE CULTURE AND IDEAS ARE OFFERED THROUGH LECTURE SERIES AND COMMUNITY DISCOURSE. DURING THE SUMMER MONTHS, A PORTION OF THE UNIVERSITY'S EDUCATIONAL FACILITIES ARE USED TO PROVIDE INSTRUCTION TO CHILDREN AGED 3-13 WHO ATTEND PINE TREE CAMPS SUMMER SESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin M Ross President | OfficerTrustee | 40 | $819,632 |
Thomas Rooney CFO & Treasurer | Officer | 40 | $412,551 |
Gregory J Malfitano SVP For Development & Administration | Officer | 40 | $403,586 |
Gareth P Fowles VP For Enrollment Management | Officer | 40 | $389,279 |
Christian G Boniforti Chief Information Officer | Officer | 40 | $382,706 |
Katrina Carter-Tellison VP For Academic Affairs | Officer | 40 | $260,360 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Food Services | 6/29/22 | $5,227,738 |
Eab It Marketing Services | 6/29/22 | $1,834,090 |
Gerrits Construction Inc Construction Services | 6/29/22 | $1,229,712 |
Kaplan Inc Professional Education Svcs | 6/29/22 | $669,431 |
All Campus Llc Professional Marketing Svcs | 6/29/22 | $710,482 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,703,550 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,182,870 |
| Noncash contributions included in lines 1a–1f | $143,638 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,886,420 |
| Total Program Service Revenue | $112,144,116 |
| Investment income | $98,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $650,176 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,511,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $33,888,042 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,058,955 |
| Compensation of current officers, directors, key employees. | $2,827,504 |
| Compensation to disqualified persons | $357,272 |
| Other salaries and wages | $33,944,950 |
| Pension plan accruals and contributions | $1,633,521 |
| Other employee benefits | $5,255,944 |
| Payroll taxes | $2,894,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $193,310 |
| Fees for services: Accounting | $234,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $680,317 |
| Fees for services: Other | $734,242 |
| Advertising and promotion | $1,144,854 |
| Office expenses | $5,197,884 |
| Information technology | $2,637,608 |
| Royalties | $0 |
| Occupancy | $5,037,400 |
| Travel | $296,723 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,949 |
| Interest | $1,787,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,685,761 |
| Insurance | $2,830,534 |
| All other expenses | $3,231,606 |
| Total functional expenses | $119,200,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,840 |
| Savings and temporary cash investments | $14,454,698 |
| Pledges and grants receivable | $3,127,539 |
| Accounts receivable, net | $1,489,746 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,176,750 |
| Inventories for sale or use | $166,424 |
| Prepaid expenses and deferred charges | $328,164 |
| Net Land, buildings, and equipment | $131,023,047 |
| Investments—publicly traded securities | $4,170,647 |
| Investments—other securities | $38,790,567 |
| Investments—program-related | $0 |
| Intangible assets | $681,755 |
| Other assets | $7,537,469 |
| Total assets | $203,973,646 |
| Accounts payable and accrued expenses | $6,648,694 |
| Grants payable | $0 |
| Deferred revenue | $17,431,610 |
| Tax-exempt bond liabilities | $52,964,833 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $86,691 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,563,288 |
| Total liabilities | $80,695,116 |
| Net assets without donor restrictions | $75,144,891 |
| Net assets with donor restrictions | $48,133,639 |
| 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 | $203,973,646 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lynn University Inc has recieved totaling $99,747.
| Awarding Organization | Amount |
|---|---|
Bay Branch Foundation Boca Raton, FL PURPOSE: TO FINANCE OPERATIONS OF DONEE ORGANIZATION | $99,747 |
Endowment Analysis
| Beg. Balance | $38,790,567 |
| Earnings | -$934,061 |
| Net Contributions | $542,079 |
| Other Expense | $1,098,612 |
| Grants | $1,312,689 |
| Ending Balance | $35,987,284 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nova Southeastern University Inc Fort Lauderdale, FL | $1,812,347,063 | $836,787,691 |
Emory University Decatur, GA | $308,834,835 | $526,678,235 |
Embry-Riddle Aeronautical Daytona Beach, FL | $1,265,271,185 | $616,318,485 |
Savannah College Of Art And Design Inc Savannah, GA | $1,297,162,714 | $587,003,201 |
The Corporation Of Mercer University Macon, GA | $975,470,567 | $444,048,225 |
University Of Tampa Tampa, FL | $995,322,258 | $426,783,303 |
Stetson University Inc DeLand, FL | $684,046,890 | $288,494,091 |
Samford University Birmingham, AL | $801,305,714 | $280,325,292 |
Barry University Inc Miami Shores, FL | $233,517,210 | $207,474,088 |
Saint Leo University Inc Saint Leo, FL | $243,651,425 | $167,609,731 |
Florida Institute Of Technology Inc Melbourne, FL | $380,099,144 | $191,425,099 |
Jacksonville University Jacksonville, FL | $361,875,229 | $172,045,418 |