College Of New Rochelle
- Assets
- $77.4m
- Revenue
- $73.1m
- Investments
- $0.0
- Employees
- 1,183
- Location
- New Rochelle, NY
- Founding
- 01/1971
- Data as of
- 06/2019
- EIN
- 13-1740447
Organization Overview
College Of New Rochelle is located in New Rochelle, NY. The organization was established in 1971. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2019, College Of New Rochelle employed 1,183 individuals. College Of New Rochelle 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, College Of New Rochelle generated $73.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $71.5m during the year ending 06/2019. 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
THE COLLEGE OF NEW ROCHELLE'S MISSION WAS TO PROVIDE ACCESS TO EDUCATION. IT EDUCATED 4,000 STUDENTS ANNUALLY BY PROVIDING BOTH UNDERGRADUATE AND GRADUATE EDUCATION. THE COLLEGE HAD FOUR SCHOOLS, SCHOOL OF ARTS & SCIENCES, SCHOOL OF NURSING & HEALTHCARE PROFESSIONS, THE SCHOOL OF NEW RESOURCES AND THE GRADUATE SCHOOL. THE COLLEGE ALSO PROVIDED ROOM AND BOARD FACILITIES FOR THOSE STUDENTS WHO CHOSE TO LIVE ON CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION. THE COLLEGE OF NEW ROCHELLE PROVIDED UNDERGRADUATE AND GRADUATE EDUCATION FOR MORE THAN 4000 STUDENTS ANNUALLY. THE STUDENTS ATTENDED THE SCHOOL OF ARTS & SCIENCES, THE SCHOOL OF NURSING & HEALTHCARE PROFESSIONS, THE SCHOOL OF NEW RESOURCES AND THE GRADUATE SCHOOL.
ROOM AND BOARD FOR STUDENTS WHO RESIDED ON CAMPUS AND OTHER ANCILLARY AND AUXILIARY RELATED ACTIVITIES FOR ALL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Cunningham VP Finance & Admin (to 5/2019) | Officer | 40 | $239,084 |
William Latimer President (4/1/18-8/9/19) | OfficerTrustee | 60 | $236,867 |
Kevin Cavanagh Exec VP Strategy & Plan (to 1/18/19) | Officer | 40 | $230,354 |
Brenna Mayer VP College Advancement (to 7/8/19) | Officer | 40 | $224,439 |
Dorothy Escribano Interim Pres (to 3/31/18) | Officer | 40 | $213,414 |
David Donnelly Sr VP Of Academic Affairs (to 8/9/19) | 40 | $175,101 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cullen And Dykmanllp Legal Services | 6/29/19 | $1,361,719 |
Spark 451 Marketing & Technology | 6/29/19 | $837,550 |
755 Co-op City Associateslp Classroom & Office Space Rental | 6/29/19 | $1,259,348 |
Culinart Food Service | 6/29/19 | $1,970,538 |
Reec West 125th Stllc Classroom & Office Space Rental | 6/29/19 | $894,465 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,996,935 |
| Investment income | $97,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,143,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $16,292,504 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $495,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,408,139 |
| Pension plan accruals and contributions | $465,178 |
| Other employee benefits | $2,403,101 |
| Payroll taxes | $1,821,159 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,939,648 |
| Fees for services: Accounting | $458,027 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,091,239 |
| Advertising and promotion | $717,463 |
| Office expenses | $164,350 |
| Information technology | $444,881 |
| Royalties | $0 |
| Occupancy | $3,819,431 |
| Travel | $246,820 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,902 |
| Interest | $2,718,689 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,774,441 |
| Insurance | $1,377,745 |
| All other expenses | $0 |
| Total functional expenses | $71,482,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,528,272 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,710,811 |
| Accounts receivable, net | $6,973,032 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,916,370 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,990,205 |
| Investments—publicly traded securities | $3,579,286 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $426,731 |
| Total assets | $77,421,794 |
| Accounts payable and accrued expenses | $5,538,363 |
| Grants payable | $0 |
| Deferred revenue | $9,516,815 |
| Tax-exempt bond liabilities | $43,883,631 |
| 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 | $4,312,088 |
| Other liabilities | $23,680,855 |
| Total liabilities | $86,931,752 |
| Net assets without donor restrictions | -$15,789,780 |
| Net assets with donor restrictions | $2,528,107 |
| Capital stock or trust principal, or current funds | $3,751,715 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$9,509,958 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that College Of New Rochelle has recieved totaling $2,674.
| Awarding Organization | Amount |
|---|---|
Ann Ahern Char Tr Uw Norwich, NY PURPOSE: SCHOLARSHIPS | $2,674 |
Endowment Analysis
| Beg. Balance | $3,376,159 |
| Earnings | $382,395 |
| Admin Expense | $800,000 |
| Ending Balance | $2,958,554 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Point Park University Pittsburgh, PA | $213,510,842 | $122,379,566 |
Desales University Center Valley, PA | $267,808,643 | $127,653,675 |
University Of The Sciences In Philadelphia Philadelphia, PA | $394,161,147 | $107,500,197 |
Moravian University Bethlehem, PA | $317,733,693 | $123,053,733 |
Ursinus College Collegeville, PA | $337,795,514 | $116,678,933 |
Saint Peters University Jersey City, NJ | $164,476,054 | $118,523,321 |
Wagner College Staten Island, NY | $223,315,881 | $116,300,889 |
Canisius College Buffalo, NY | $289,486,779 | $104,179,636 |
University Of The Arts Philadelphia, PA | $189,935,840 | $110,070,964 |
Lesley University Cambridge, MA | $459,682,175 | $126,944,351 |
Alfred University Alfred, NY | $321,880,003 | $125,818,572 |
Saint Michaels College Colchester, VT | $214,854,575 | $111,425,492 |