Goodwin College Inc
- Assets
- $247.3m
- Revenue
- $72.7m
- Investments
- $0.0
- Employees
- 729
- Location
- East Hartford, CT
- Founding
- 01/2002
- Data as of
- 06/2019
- EIN
- 06-1627882
Organization Overview
Goodwin College Inc is located in East Hartford, CT. The organization was established in 2002. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Goodwin College Inc employed 729 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goodwin College 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 06/2019, Goodwin College Inc generated $72.7m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $67.8m during the year ending 06/2019. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 5 years. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOODWIN UNIVERSITY IS AUTHORIZED TO CONFER MASTERS DEGREES, BACCALAUREATE DEGREES, ASSOCIATE DEGREES AND ONE AND TWO-YEAR CERTIFICATE PROGRAMS. TO THIS END, GOODWIN UNIVERSITY CREATES AN EDUCATIONAL ENVIRONMENT THAT BLENDS PROFESSIONAL PREPARATION WITH DEVELOPMENT OF CRITICAL THINKING SKILLS AND AN APPRECIATION OF THE HUMANITIES, ARTS AND SCIENCES; EDUCATES STUDENTS IN AN ENVIRONMENT THAT CELEBRATES DIVERSE CULTURES, AGES, EXPERIENCES AND OPINIONS; ENRICHES OUR LOCAL AND GLOBAL COMMUNITIES BY FORMING COLLABORATIVE RELATIONSHIPS THAT CREATE EDUCATIONAL, ECONOMIC AND CULTURAL BENEFITS; AND ASSISTS OUR GRADUATES WITH IDENTIFYING AND SECURING CAREER AND GROWTH OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Scheinberg President | OfficerTrustee | 40 | $709,334 |
Todd Andrews VP Of Economic And Strateg | 45 | $245,794 | |
Danielle Wilken Provost & Dean Of Faculty | Officer | 50 | $222,031 |
Daniel Noonan VP Of Enrollment Services | 50 | $209,124 | |
Bryant Harrell VP Of Facilities & It | Officer | 50 | $195,932 |
Edwin Meyer Jr VP Of Finance | Officer | 40 | $181,120 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fip Construction Inc Construction | 6/29/21 | $6,919,121 |
Downes Construction Company Llc Construction | 6/29/21 | $1,580,226 |
Google Inc Advertising Services | 6/29/21 | $1,404,025 |
Ssc Inc Security Services | 6/29/21 | $634,829 |
Follett Higher Education Group Retail/bookstore Operation | 6/29/21 | $800,382 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,653,392 |
| Investment income | $220,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$976,243 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $79,902 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,683,426 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $14,361,844 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,316,337 |
| Compensation to disqualified persons | $43,247 |
| Other salaries and wages | $22,547,160 |
| Pension plan accruals and contributions | $452,581 |
| Other employee benefits | $1,821,488 |
| Payroll taxes | $1,942,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $224,895 |
| Fees for services: Accounting | $162,907 |
| Fees for services: Lobbying | $45,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,803,555 |
| Advertising and promotion | $3,291,046 |
| Office expenses | $678,134 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,678,144 |
| Travel | $240,078 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $632,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,499,430 |
| Insurance | $512,980 |
| All other expenses | $0 |
| Total functional expenses | $67,756,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,673,136 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,409,257 |
| Accounts receivable, net | $2,404,108 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $658,966 |
| Inventories for sale or use | $10,215 |
| Prepaid expenses and deferred charges | $1,358,898 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,370,853 |
| Total assets | $247,327,812 |
| Accounts payable and accrued expenses | $8,874,074 |
| Grants payable | $0 |
| Deferred revenue | $5,665,395 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,148,450 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,574,213 |
| Total liabilities | $35,262,132 |
| Net assets without donor restrictions | $208,071,257 |
| Net assets with donor restrictions | $3,994,423 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $212,065,680 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Goodwin College Inc has recieved totaling $238,156.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $100,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: SCHOLARSHIPS | $45,598 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $41,408 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: EDUCATION | $22,150 |
Autism Speaks Inc Princeton, NJ PURPOSE: SERVICES | $20,000 |
New Alliance Foundation Inc New Haven, CT PURPOSE: TO SUPPORT THE ENTREPRENEURIAL NETWORK (ENET), WHICH WILL TRAIN 20 ASPIRING ENTREPRENEURS TO GAIN THE SKILLS TO LAUNCH THEIR BUSINESS VENTURES, PROVIDING ADULTS FROM VULNERABLE POPULATIONS IN THE EAST HARTFORD COMMUNITY WITH NEW OPPORTUNITIES. | $5,000 |
Endowment Analysis
| Beg. Balance | $11,565,746 |
| Earnings | $2,409,943 |
| Net Contributions | $536,393 |
| Other Expense | $690,734 |
| Ending Balance | $13,821,348 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nazareth College Of Rochester Rochester, NY | $299,176,817 | $122,635,159 |
Curry College Milton, MA | $220,105,546 | $116,112,495 |
Cooper Union For The Advancement Of Science And Art New York, NY | $1,192,737,106 | $135,635,048 |
Regis College Weston, MA | $109,512,086 | $107,679,867 |
St Francis College Brooklyn, NY | $411,618,421 | $89,705,791 |
Utica University Utica, NY | $156,931,603 | $105,142,781 |
College Of Mount Saint Vincent Riverdale, NY | $139,449,317 | $110,010,056 |
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |
Daemen College Amherst, NY | $83,009,537 | $88,907,221 |
Marymount Manhattan College New York, NY | $133,739,534 | $102,629,216 |