Quinnipiac University
- Assets
- $1.8b
- Revenue
- $531.9m
- Investments
- $62.4m
- Employees
- 4,343
- Location
- Hamden, CT
- Founding
- 04/1938
- Data as of
- 06/2021
- EIN
- 06-0646701
Organization Overview
Quinnipiac University is located in Hamden, CT. The organization was established in 1938. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Quinnipiac University employed 4,343 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quinnipiac 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 06/2021, Quinnipiac University generated $531.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $486.6m 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PREPARE GRADUATES AS ENLIGHTENED GLOBAL CITIZENS EQUIPPED FOR CAREERS OF THE FUTURE. (SEE SCH O) QUINNIPIAC UNIVERSITY ("QU") IS A PRIVATE, COEDUCATIONAL UNIVERSITY WHERE STUDENTS ENGAGE IN AN EDUCATIONAL EXPERIENCE THAT'S BOTH PERSONAL AND CHALLENGING FROM FACULTY WHO CARE DEEPLY ABOUT STUDENT OUTCOMES. QU IS AN INSTITUTION OF HIGHER EDUCATION, WHICH IS ACCREDITED BY THE BOARD OF HIGHER EDUCATION OF THE STATE OF CONNECTICUT AND THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES. ITS PURPOSE IS TO OFFER PROGRAMS OF INSTRUCTION LEADING TO UNDERGRADUATE AND GRADUATE DEGREES IN A WIDE RANGE OF PROFESSIONAL FIELDS. QU OFFERS 150 PROGRAMS TO APPROXIMATELY 6,800 UNDERGRADUATE AND 3,000 GRADUATE STUDENTS
Describe the Organization's Program Activity:
EDUCATIONAL PROGRAMS: INCLUDES THE PROVISION OF INSTRUCTION AS WELL AS RESEARCH ACTIVITIES. QUINNIPIAC UNIVERSITY OFFERS PROGRAMS OF INSTRUCTION LEADING TO UNDERGRADUATE AND GRADUATE DEGREES IN A WIDE RANGE OF PROFESSIONAL FIELDS RELATING TO HEALTH SCIENCES, BUSINESS LAW, AND COMMUNICATIONS, AS WELL AS IN VARIOUS THEORETICAL AND APPLIED DISCIPLINES OF ARTS AND SCIENCE. THE UNIVERSITY HAS APPROXIMATELY 6,800 FULL-TIME UNDERGRADUATE, 300 PART-TIME UNDERGRADUATE, AND 2,700 FULL-TIME AND PART-TIME GRADUATE ENROLLED STUDENTS.EFFECTIVE JULY 1, 2019, QUINNIPIAC UNIVERSITY ONLINE, INC. MERGED INTO QUINNIPIAC UNIVERSITY. THIS MERGER ENHANCED THE UNIVERSITIES ABILILITY TO PROVIDE ONLINE EDUCATION. (SEE SCHEDULE O)THIS ADDITIONAL CAPABILITY WAS ESSENTIAL TO THE EFFECTIVE FUNCTIONING OF OUR INSTITUTION DURING THE COVID-19 CRISIS.
AUXILIARY SERVICES: INCLUDES THE PROVISION OF DORMITORY AND DINING SERVICES FOR RESIDENTIAL STUDENTS AS WELL AS UPKEEP FOR STUDENT FACILITIES. STUDENTS AT QU DO MORE THAN EARN A DEGREE. THEY ARE PART OF A VIBRANT COMMUNITY WHERE STUDENTS RALLY AROUND COMMON INTERESTS, PASSIONS AND CAUSES. STUDENT'S LIVE IN A DIVERSE COMMUNITY IN AN ENVIRONMENT PURPOSEFULLY DESIGNED TO CREATE A HEALTHY AND ACTIVE LIFESTYLE. AS A RESULT OF COVID-19 PANDEMIC, THE UNIVERSITY DECIDED TO CLOSE THE RESIDENTIAL CAMPUS EFFECTIVE MARCH 15, 2020.
STUDENT SERVICE PROGRAMS: INCLUDES THE PROVISION FOR PROGRAMS AND SERVICES SUPPORTING THE STUDENT LIFE PROGRAM AND EXPENDITURES RELATING TO STUDENT FINANCIAL AID. QUINNIPIAC UNIVERSITY HAS A VAST ARRAY OF SERVICES TO SUPPORT ITS STUDENTS INCLUDING, BUT NOT LIMITED TO, HEALTH & WELLNESS COUSELING AND SUPPORT, FINANCIAL AID GUIDANCE, ATHLETICS AND RECREATION, CLUBS AND ACTIVITIES, SPIRITUAL AND RELIGIOUS LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy Olian President | OfficerTrustee | 40 | $968,042 |
William Dunleavy Head Men's Basketball Coach | 40 | $703,900 | |
Bruce Koeppen Dean Of The School Of Medicine | 40 | $559,510 | |
Rand Pecknold Men's Ice Hockey Coach | 40 | $554,664 | |
Mark Varholak CFO | Officer | 40 | $495,213 |
Patricia Sacca-Fabbri Head Women's Basketball Coach | 40 | $393,268 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiggin & Dana Lawyers | 6/29/21 | $364,645 |
Medhub Llc Program Administration | 6/29/21 | $199,350 |
Mccann Systems Llc Av Solutions, Project Management | 6/29/21 | $1,225,778 |
Centerbrook Architect | 6/29/21 | $487,691 |
Gotham Tech Group Inc Software Implementation | 6/29/21 | $211,707 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,439,120 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,909,124 |
| Noncash contributions included in lines 1a–1f | $418,029 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,348,244 |
| Total Program Service Revenue | $503,662,384 |
| Investment income | $8,751,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $268,739 |
| Net Gain/Loss on Asset Sales | $3,684,135 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $531,949,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $170,244,387 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,021,407 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,512,313 |
| Compensation of current officers, directors, key employees. | $1,321,737 |
| Compensation to disqualified persons | $82,678 |
| Other salaries and wages | $134,360,043 |
| Pension plan accruals and contributions | $9,283,776 |
| Other employee benefits | $26,461,900 |
| Payroll taxes | $9,858,516 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $437,968 |
| Fees for services: Accounting | $189,250 |
| Fees for services: Lobbying | $500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,922,951 |
| Fees for services: Other | $9,020,363 |
| Advertising and promotion | $4,937,293 |
| Office expenses | $25,681,945 |
| Information technology | $7,320,732 |
| Royalties | $0 |
| Occupancy | $7,724,733 |
| Travel | $2,446,769 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $215,977 |
| Interest | $17,273,782 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,559,718 |
| Insurance | $5,383,355 |
| All other expenses | $3,708,859 |
| Total functional expenses | $486,620,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,711,823 |
| Savings and temporary cash investments | $170,630,982 |
| Pledges and grants receivable | $9,115,160 |
| Accounts receivable, net | $8,886,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $947,335 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,984,051 |
| Net Land, buildings, and equipment | $944,271,510 |
| Investments—publicly traded securities | $591,395,203 |
| Investments—other securities | $62,383,017 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,932,788 |
| Total assets | $1,807,258,104 |
| Accounts payable and accrued expenses | $32,913,335 |
| Grants payable | $0 |
| Deferred revenue | $26,744,011 |
| Tax-exempt bond liabilities | $428,736,406 |
| 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 | $11,065,519 |
| Total liabilities | $499,459,271 |
| Net assets without donor restrictions | $1,211,413,359 |
| Net assets with donor restrictions | $96,385,474 |
| 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 | $1,807,258,104 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Quinnipiac University has recieved totaling $204,000.
| Awarding Organization | Amount |
|---|---|
Uw Harold S Geneen Charitable Tr Dallas, TX PURPOSE: SUPPORTS MULTIPLE | $140,000 |
Keiser Foundation Wilmington, DE PURPOSE: QUINNIPIAC UNIVERSITY SCHOOL OF NURSING COMMUNITY ENGAGEMENT PROGRAM | $60,000 |
Mortimer P Howard Tr U W Fleet Bank Of Massachusetts Dallas, TX PURPOSE: SCHOLARSHIP | $3,000 |
Katherine L Peck Trust Uw Fbo Educational Scholarships Dallas, TX PURPOSE: SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $545,134,316 |
| Earnings | $209,790,730 |
| Admin Expense | $3,922,951 |
| Net Contributions | $7,343,256 |
| Grants | $4,475,256 |
| Ending Balance | $753,870,095 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Quinnipiac University Hamden, CT | $1,807,258,104 | $531,949,834 |
Brandeis University Waltham, MA | $1,811,655,582 | $399,602,478 |
Johnson & Wales University Providence, RI | $913,541,997 | $403,272,641 |
Bar Ilan University In Israel New York, NY | $542,311,841 | $462,229,998 |