Saint Martins University
- Assets
- $110.0m
- Revenue
- $78.0m
- Investments
- $13.4k
- Employees
- 1,061
- Location
- Lacey, WA
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 91-0564993
Organization Overview
Saint Martins University is located in Lacey, WA. 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 06/2023, Saint Martins University employed 1,061 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Saint Martins 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 06/2023, Saint Martins University generated $78.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $78.8m during the year ending 06/2023. While expenses have increased by 5.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SAINT MARTIN'S UNIVERSITY IS A CATHOLIC BENEDICTINE INSTITUTE OF HIGHER EDUCATION THAT EMPOWERS STUDENTS TO PURSUE A LIFETIME OF LEARNING AND ACCOMPLISHMENT IN ALL ARENAS OF HUMAN ENDEAVOR.
Describe the Organization's Program Activity:
HIGHER EDUCATION: STUDENT FINANCIAL AID. SAINT MARTIN'S PROVIDES TUITION ASSISTANCE TO THE MAJORITY OF ITS UNDERGRADUATE STUDENT BODY IN THE FORM OF SCHOLARSHIPS, GRANTS, AND LOANS.
HIGHER EDUCATION: AUXILIARY SERVICES INCLUDING FOOD SERVICE, BOOKSTORE, AND STUDENT HOUSING.
HIGHER EDUCATION: INSTRUCTIONAL PROGRAMS AND RELATED SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES. SAINT MARTIN'S SERVES APPROXIMATELY 1,470 STUDENTS AT OUR MAIN CAMPUS IN LACEY, WA AND 40 STUDENTS AT OUR MILITARY EXTENSIONS. SAINT MARTIN'S OFFERS DEGREES IN ENGINEERING, BUSINESS, EDUCATION, AND THE LIBERAL ARTS.
HIGHER EDUCATION: STUDENT SERVICES FOR ON-CAMPUS AND EXTENSION STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roy Heynderickx Former President (thru 6/2022) | 50 | $487,412 | |
Kathleen Boyle Thru 102022 VP Of Academic Affairs, Provost | Officer | 50 | $223,121 |
David Olwell Dean Of Engineering | 40 | $180,499 | |
Jennifer Bonds-Raacke President | OfficerTrustee | 50 | $172,110 |
Chung-Shing Lee Dean Of Business | 40 | $157,325 | |
Katie Wojke Avp Of Institutional Advancement | 50 | $128,402 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Food Services | 6/29/23 | $3,497,214 |
Eab Global Inc Consulting Services | 6/29/23 | $613,625 |
Saint Martin's Abbey Teaching Services | 6/29/23 | $438,754 |
Forma Construction Construction Services | 6/29/23 | $422,451 |
Academic Search Inc Consulting Services | 6/29/23 | $215,861 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $750,223 |
| Related organizations | $3,126,934 |
| Government grants | $1,855,227 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,154,548 |
| Noncash contributions included in lines 1a–1f | $3,887,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,886,932 |
| Total Program Service Revenue | $69,372,086 |
| Investment income | $864,143 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $124,582 |
| Net Gain/Loss on Asset Sales | -$737,189 |
| Net Income from Fundraising Events | -$538,362 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,972,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,122,424 |
| Grants and other assistance to Foreign Orgs/Individuals | $212,116 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $686,114 |
| Compensation of current officers, directors, key employees. | $686,114 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,581,360 |
| Pension plan accruals and contributions | $742,340 |
| Other employee benefits | $2,400,708 |
| Payroll taxes | $1,854,809 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $98,801 |
| Fees for services: Accounting | $122,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,888 |
| Fees for services: Other | $2,763,291 |
| Advertising and promotion | $185,100 |
| Office expenses | $630,668 |
| Information technology | $623,912 |
| Royalties | $0 |
| Occupancy | $2,183,944 |
| Travel | $1,645,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,420 |
| Interest | $1,774,458 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,319,329 |
| Insurance | $442,099 |
| All other expenses | $1,667,329 |
| Total functional expenses | $78,767,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,674,908 |
| Savings and temporary cash investments | $580,000 |
| Pledges and grants receivable | $1,756,240 |
| Accounts receivable, net | $4,541,420 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $732,929 |
| Net Land, buildings, and equipment | $56,654,277 |
| Investments—publicly traded securities | $41,724,158 |
| Investments—other securities | $13,403 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,309,785 |
| Total assets | $109,987,120 |
| Accounts payable and accrued expenses | $3,990,542 |
| Grants payable | $0 |
| Deferred revenue | $2,382,386 |
| Tax-exempt bond liabilities | $24,987,434 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,688,815 |
| Total liabilities | $34,049,177 |
| Net assets without donor restrictions | $35,578,864 |
| Net assets with donor restrictions | $40,359,079 |
| 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 | $109,987,120 |