St Francis College
- Assets
- $452.8m
- Revenue
- $81.4m
- Investments
- $22.0m
- Employees
- 651
- Location
- Brooklyn, NY
- Founding
- 07/1996
- Data as of
- 06/2022
- EIN
- 11-1635105
Organization Overview
St Francis College is located in Brooklyn, NY. The organization was established in 1996. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, St Francis College employed 651 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Francis College 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 06/2022, St Francis College generated $81.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $115.2m during the year ending 06/2022. While expenses have increased by 7.0% per year over the past 7 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
ST. FRANCIS COLLEGE IS AN INDEPENDENT, COEDUCATIONAL INSTITUTION (SEE SCHEDULE O)
Describe the Organization's Program Activity:
INSTRUCTIONAL - THE COLLEGE PROVIDES DIRECT SERVICES THROUGH ITS FACULTY TO APPROXIMATELY 2,125 FULL AND 190 PART TIME STUDENTS LEADING PRIMARILY TO BACCALAUREATE AND ASSOCIATE DEGREES.STUDENT AID AND OTHER - FUNDING FOR SCHOLARSHIPS, GRANTS, AND OTHER FINANCIAL AID. THE COLLEGE AWARDS FEDERAL AND STATE GRANTS AND/OR LOANS BASED UPON FINANCIAL NEED. COLLEGE FUNDED INSTITUTIONAL AND ENDOWED GRANTS/SCHOLARSHIPS ARE AWARDED BASED UPON FINANCIAL NEED AND ACADEMIC MERIT.
ACADEMIC SUPPORT - PROVIDES FUNDING FOR SUPPORT SERVICES TO THE INSTRUCTIONAL DEPARTMENTS, ACADEMIC ENHANCEMENT AND STUDENT ORIENTATION SERVICES, HONORS PROGRAMS, AND THE LIBRARY. STUDENT SERVICES - PROVIDES FUNDING FOR THE OFFICES OF ADMISSIONS, REGISTRAR, AND OTHER STUDENT RELATED SUPPORT SERVICES AND ACTIVITIES TO ENSURE STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND DEVELOPMENT OUTSIDE THE FORMAL INSTRUCTIONAL PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denis J Salamone Trustee - Chair | OfficerTrustee | 8 | $0 |
Barbara G Koster Trustee/vice Chair | OfficerTrustee | 5 | $0 |
Eugene Donnelly Trustee - Secretary (thru 11/2021) | OfficerTrustee | 5 | $0 |
Brother William A Boslet Trustee | Trustee | 5 | $0 |
Tim Cecere Trustee | Trustee | 5 | $0 |
Edward N Constantino Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Collins Building Services Maintenance Services | 6/29/22 | $593,772 |
Cullen Dykman Legal Services | 6/29/22 | $457,943 |
Jeffrey Bethke Consulting Services | 6/29/22 | $453,840 |
Sterling Project Development Group Llc Consulting Services | 6/29/22 | $420,000 |
Squire Patton Boggs (Us) Llp Legal Services | 6/29/22 | $194,597 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $527,954 |
| Related organizations | $0 |
| Government grants | $10,243,937 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,655,412 |
| Noncash contributions included in lines 1a–1f | $65,227 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,427,303 |
| Total Program Service Revenue | $65,425,776 |
| Investment income | $337,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $322,982 |
| Net Gain/Loss on Asset Sales | $830,836 |
| Net Income from Fundraising Events | -$4,488 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,412,442 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,561,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,482,482 |
| Compensation of current officers, directors, key employees. | $1,483,929 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,067,991 |
| Pension plan accruals and contributions | $1,968,870 |
| Other employee benefits | $4,306,818 |
| Payroll taxes | $2,324,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $426,694 |
| Fees for services: Accounting | $187,200 |
| Fees for services: Lobbying | $172,841 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,035,149 |
| Advertising and promotion | $355,628 |
| Office expenses | $644,041 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,017,530 |
| Travel | $496,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $458,240 |
| Interest | $3,834,933 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,169,788 |
| Insurance | $0 |
| All other expenses | $1,325,751 |
| Total functional expenses | $115,170,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $760,743 |
| Savings and temporary cash investments | $3,777,984 |
| Pledges and grants receivable | $2,408,337 |
| Accounts receivable, net | $1,538,410 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $383,907 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,406,478 |
| Net Land, buildings, and equipment | $54,603,968 |
| Investments—publicly traded securities | $17,305,812 |
| Investments—other securities | $21,953,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $348,687,674 |
| Total assets | $452,826,805 |
| Accounts payable and accrued expenses | $12,391,659 |
| Grants payable | $0 |
| Deferred revenue | $22,856 |
| Tax-exempt bond liabilities | $116,181,803 |
| 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 | $305,757,236 |
| Total liabilities | $434,353,554 |
| Net assets without donor restrictions | -$21,398,895 |
| Net assets with donor restrictions | $39,872,146 |
| 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 | $452,826,805 |