Assumption University
- Assets
- $249.2m
- Revenue
- $139.8m
- Investments
- $14.4m
- Employees
- 1,042
- Location
- Worcester, MA
- Founding
- 07/1953
- Data as of
- 05/2022
- EIN
- 04-2105776
Organization Overview
Assumption University is located in Worcester, MA. The organization was established in 1953. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Assumption University employed 1,042 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Assumption 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 05/2022, Assumption University generated $139.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $125.8m during the year ending 05/2022. While expenses have increased by 2.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HIGHER EDUCATION OF MEN AND WOMEN. ASSUMPTION UNIVERSITY STRIVES TO FORM GRADUATES KNOWN FOR CRITICAL INTELLIGENCE, THOUGHTFUL CITIZENSHIP AND COMPASSIONATE SERVICE.
Describe the Organization's Program Activity:
HIGHER EDUCATION TUITION: PROVIDES COLLEGE DEGREE PROGRAMS AT THE UNDERGRADUATE AND GRADUATE LEVEL. THE UNIVERSITY AWARDED 543 UNDERGRADUATE DEGREES, 166 GRADUATE DEGREES, AND 1 CERTIFICATES AT COMMENCEMENT.
AUX. ENTERPRISES: PROVIDE ON CAMPUS HOUSING TO APPROXIMATELY 1,800 STUDENTS.
AUX. ENTERPRISES: PROVIDE BOARD, BOOKS, ETC. TO APPROXIMATELY 2,000 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francesco Cesareo President | OfficerTrustee | 40 | $420,050 |
Timothy Stanton VP Of Inst. Adv. (thru 6/4/21) | Officer | 40 | $241,567 |
Jennifer Niece Professor (thru 8/31/21) | 40 | $206,319 | |
Peter Wells Treasurer, VP Finance & Admin | Officer | 40 | $199,951 |
Raymond Albert Director | 40 | $194,489 | |
James Lang Professor (thru 8/31/21) | 40 | $184,930 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dining And Facilities Services | 5/30/22 | $5,956,141 |
Antonelli Construction Company Construction | 5/30/22 | $467,407 |
Lauring Construction Company Construction | 5/30/22 | $1,098,062 |
Dynamic Campus Solutions Information Tech Services | 5/30/22 | $2,335,042 |
Best Practice Solutions Enrollment & Fa Services | 5/30/22 | $445,583 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,638,232 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,258,802 |
| Noncash contributions included in lines 1a–1f | $485,603 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,897,034 |
| Total Program Service Revenue | $110,374,241 |
| Investment income | $4,175,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,754,793 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,781,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $305,100 |
| Grants and other assistance to domestic individuals. | $55,266,408 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,452,525 |
| Compensation of current officers, directors, key employees. | $386,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,332,688 |
| Pension plan accruals and contributions | $1,693,811 |
| Other employee benefits | $7,530,109 |
| Payroll taxes | $1,889,025 |
| Fees for services: Management | $10,685,420 |
| Fees for services: Legal | $76,823 |
| Fees for services: Accounting | $113,777 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $105,363 |
| Fees for services: Investment Management | $42,436 |
| Fees for services: Other | $2,157,396 |
| Advertising and promotion | $1,513,562 |
| Office expenses | $518,999 |
| Information technology | $3,220,491 |
| Royalties | $0 |
| Occupancy | $1,830,691 |
| Travel | $427,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $427,464 |
| Interest | $908,638 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,974,023 |
| Insurance | $1,035,105 |
| All other expenses | $0 |
| Total functional expenses | $125,845,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,255,256 |
| Savings and temporary cash investments | $17,806,561 |
| Pledges and grants receivable | $4,388,433 |
| Accounts receivable, net | $994,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $513,840 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,554,136 |
| Net Land, buildings, and equipment | $106,094,342 |
| Investments—publicly traded securities | $95,478,820 |
| Investments—other securities | $14,394,794 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,718,621 |
| Total assets | $249,199,201 |
| Accounts payable and accrued expenses | $7,396,438 |
| Grants payable | $0 |
| Deferred revenue | $5,832,769 |
| Tax-exempt bond liabilities | $35,662,870 |
| 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 | $2,098,236 |
| Total liabilities | $50,990,313 |
| Net assets without donor restrictions | $148,404,289 |
| Net assets with donor restrictions | $49,804,599 |
| 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 | $249,199,201 |
Grants Awarded
Over the last fiscal year, Assumption University has awarded $305,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE AUGUSTINIANS OF THE ASSUMPTION PURPOSE: GENERAL PURPOSE | $300,000 |
Lakewood, NJ PURPOSE: GENERAL PURPOSE | $5,100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Assumption University has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Deacon Family Foundation Inc Sparta, NJ PURPOSE: CHARITABLE GIVING | $500 |
Endowment Analysis
| Beg. Balance | $101,791,191 |
| Earnings | -$9,712,555 |
| Net Contributions | $19,616,560 |
| Grants | $3,468,162 |
| Ending Balance | $108,227,034 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Providence College Providence, RI | $748,292,244 | $299,300,711 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |