Fairfield University
- Assets
- $941.7m
- Revenue
- $361.7m
- Investments
- $77.6m
- Employees
- 3,393
- Location
- Fairfield, CT
- Founding
- 10/1943
- Data as of
- 06/2020
- EIN
- 06-0646623
Organization Overview
Fairfield University is located in Fairfield, CT. The organization was established in 1943. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2020, Fairfield University employed 3,393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Fairfield University generated $361.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $316.2m during the year ending 06/2020. While expenses have increased by 3.4% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
FAIRFIELD'S MISSION IS TO DEVELOP THE CREATIVE INTELLECTUAL POTENTIAL OF ITS STUDENTS AND TO FOSTER IN THEM ETHICAL AND RELIGIOUS VALUES AND A SENSE OF SOCIAL RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAIRFIELD UNIVERSITY IS AN INSTITUTE OF HIGHER LEARNING WITH UNDERGRADUATE, GRADUATE, AND CONTINUING EDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS. SEE SCHEDULE O.
ROOM & BOARD. SEE SCHEDULE O.
OTHER ACTIVITIES. A VARIETY OF STUDENT SERVICES INCLUDING ARTS AND ENTERTAINMENT AT THE QUICK CENTER, STUDENT ACTIVITIES FOR CLUB SPORTS, AND OTHER ITEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark R Nemec President | OfficerTrustee | 45 | $608,862 |
Sydney Johnson Head Mbb Coach (thru 4-30-19) | 45 | $489,303 | |
Kevin Lawlor Executive Vice President | Officer | 45 | $438,315 |
Christine Siegel Provost & Sr VP Academics | Officer | 45 | $366,795 |
Zhan Li Dean, School Of Business | 45 | $353,642 | |
Walter Halas VP Of Advancement | 45 | $330,852 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gilbane Building Company Construction | 6/29/20 | $18,239,994 |
Consigli Construction Inc Construction | 6/29/20 | $8,228,671 |
Caldwell Walsh Building Construct Construction | 6/29/20 | $8,105,286 |
Sodexo Operations Llc Dining Service | 6/29/20 | $11,608,909 |
Whiting Turner Contracting Co Construction | 6/29/20 | $10,455,609 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,354 |
| Related organizations | $0 |
| Government grants | $4,946,466 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,868,567 |
| Noncash contributions included in lines 1a–1f | $7,742,607 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,818,387 |
| Total Program Service Revenue | $292,896,855 |
| Investment income | $12,887,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $401,787 |
| Net Gain/Loss on Asset Sales | $12,740,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $361,744,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $88,188,532 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,811,739 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,786,095 |
| Compensation of current officers, directors, key employees. | $1,302,329 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,795,903 |
| Pension plan accruals and contributions | $6,888,309 |
| Other employee benefits | $20,156,829 |
| Payroll taxes | $6,817,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $774,333 |
| Fees for services: Accounting | $250,655 |
| Fees for services: Lobbying | $266 |
| Fees for services: Fundraising | $133,339 |
| Fees for services: Investment Management | $204,744 |
| Fees for services: Other | $12,783,827 |
| Advertising and promotion | $1,489,861 |
| Office expenses | $6,633,823 |
| Information technology | $4,584,783 |
| Royalties | $0 |
| Occupancy | $8,011,237 |
| Travel | $4,804,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $216,393 |
| Interest | $11,425,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,282,847 |
| Insurance | $1,139,851 |
| All other expenses | $4,304,315 |
| Total functional expenses | $316,245,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318 |
| Savings and temporary cash investments | $76,579,213 |
| Pledges and grants receivable | $37,015,242 |
| Accounts receivable, net | $2,281,327 |
| 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 | $0 |
| Net Land, buildings, and equipment | $455,803,973 |
| Investments—publicly traded securities | $287,124,280 |
| Investments—other securities | $77,551,274 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,304,194 |
| Total assets | $941,659,821 |
| Accounts payable and accrued expenses | $36,842,775 |
| Grants payable | $2,049,330 |
| Deferred revenue | $17,957,569 |
| Tax-exempt bond liabilities | $265,733,563 |
| 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 | $0 |
| Total liabilities | $322,583,237 |
| Net assets without donor restrictions | $338,254,777 |
| Net assets with donor restrictions | $280,821,807 |
| 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 | $941,659,821 |
Grants Recieved
Over the last fiscal year, we have identified 48 grants that Fairfield University has recieved totaling $1,546,089.
| Awarding Organization | Amount |
|---|---|
Lavelle Fund For The Blind Inc New York, NY PURPOSE: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $544,137 |
Stephen And Palmina Pace Foundation Inc New York, NY PURPOSE: ARTWORK BY STEPHEN PACE | $346,470 |
Lavelle Fund For The Blind Inc New York, NY PURPOSE: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 4, JULY 2019 - JUNE 2024 | $242,768 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $75,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $75,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $57,512 |
Endowment Analysis
| Beg. Balance | $382,450,518 |
| Earnings | -$15,169,929 |
| Admin Expense | $141,123 |
| Net Contributions | $1,402,417 |
| Other Expense | $6,958,998 |
| Grants | $4,530,960 |
| Ending Balance | $357,051,925 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,146,125,008 | $936,054,028 |
Rochester Institute Of Technology Rochester, NY | $2,165,976,339 | $849,584,640 |
St Johns University New York Jamaica, NY | $1,490,909,375 | $810,687,746 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,235,224,804 | $592,927,157 |
Rockefeller University New York, NY | $3,879,645,094 | $455,447,251 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Brandeis University Waltham, MA | $1,638,021,472 | $457,392,877 |
Quinnipiac University Hamden, CT | $1,589,887,299 | $499,698,237 |
Johnson & Wales University Providence, RI | $913,541,997 | $403,272,641 |
Long Island University Brookville, NY | $751,317,388 | $425,246,385 |