Pace University
- Assets
- $1.3b
- Revenue
- $682.6m
- Investments
- $84.0m
- Employees
- 4,945
- Location
- New York, NY
- Founding
- 04/1949
- Data as of
- 06/2023
- EIN
- 13-5562314
Organization Overview
Pace University is located in New York, NY. The organization was established in 1949. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2023, Pace University employed 4,945 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pace 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 06/2023, Pace University generated $682.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $638.1m during the year ending 06/2023. While expenses have increased by 2.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PACE UNIVERSITY CONSIDERS TEACHING AND LEARNING ITS PRIORITY. PACE IS COMMITTED TO THE NEEDS OF ITS QUALIFIED AND DIVERSE STUDENT POPULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - TO PROVIDE PERSONNEL, SUPPLIES, EQUIPMENT AND OTHER MATERIALS FOR THE INSTRUCTION OF FULL AND PART-TIME GRADUATE AND UNDERGRADUATE STUDENTS.
SCHOLARSHIPS - TO PROVIDE STUDENTS WITH ACADEMIC AND/OR NEED-BASED TUITION ASSISTANCE.
AUXILIARIES - TO MEET NON-INSTRUCTIONAL NEEDS OF STUDENTS SUCH AS DORMS AND CAFETERIA SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Krislov Trustee, President | OfficerTrustee | 40 | $761,649 |
Robert C Almon Evp & CFO | Officer | 40 | $410,602 |
Lawrence Singleton Dean, Lubin School Of Business | Officer | 40 | $362,753 |
Horace Anderson Dean, School Of Law | Officer | 40 | $351,113 |
Lauren Birney Professor | 40 | $384,414 | |
Gary Laermer VP Dev & Alum Rltns | Officer | 40 | $369,289 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Collins Building Services Cleaning | 6/29/23 | $10,928,429 |
Chartwells Dining Service Food Services | 6/29/23 | $14,992,906 |
Allied Universal Security Services Security | 6/29/23 | $7,388,641 |
Andron Construction Corp Construction | 6/29/23 | $2,503,799 |
Nycan Builders Llc Construction | 6/29/23 | $2,447,316 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,851,549 |
| Related organizations | $0 |
| Government grants | $15,880,130 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,343,238 |
| Noncash contributions included in lines 1a–1f | $1,071,630 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,074,917 |
| Total Program Service Revenue | $615,166,283 |
| Investment income | $5,880,529 |
| Tax Exempt Bond Proceeds | $104,724 |
| Royalties | $167,457 |
| Net Rental Income | $93,797 |
| Net Gain/Loss on Asset Sales | $6,224,444 |
| Net Income from Fundraising Events | -$447,167 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $682,582,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $224,885,069 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,527,392 |
| Compensation of current officers, directors, key employees. | $5,118,228 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $165,459,592 |
| Pension plan accruals and contributions | $11,010,679 |
| Other employee benefits | $28,109,180 |
| Payroll taxes | $12,153,785 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $532,398 |
| Fees for services: Accounting | $394,747 |
| Fees for services: Lobbying | $130,723 |
| Fees for services: Fundraising | $469,571 |
| Fees for services: Investment Management | $1,172,022 |
| Fees for services: Other | $12,188,263 |
| Advertising and promotion | $3,506,843 |
| Office expenses | $9,885,374 |
| Information technology | $8,578,391 |
| Royalties | $0 |
| Occupancy | $81,485,359 |
| Travel | $3,557,307 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $744,374 |
| Interest | $8,607,499 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,750,782 |
| Insurance | $3,052,649 |
| All other expenses | $7,184,059 |
| Total functional expenses | $638,143,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,301,536 |
| Pledges and grants receivable | $38,710,090 |
| Accounts receivable, net | $15,585,624 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,507,666 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,252,919 |
| Net Land, buildings, and equipment | $499,685,923 |
| Investments—publicly traded securities | $152,992,517 |
| Investments—other securities | $83,975,322 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $493,045,612 |
| Total assets | $1,300,057,209 |
| Accounts payable and accrued expenses | $64,193,971 |
| Grants payable | $6,460,423 |
| Deferred revenue | $24,702,230 |
| Tax-exempt bond liabilities | $162,233,719 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,886,131 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $567,040,057 |
| Total liabilities | $837,516,531 |
| Net assets without donor restrictions | $193,968,265 |
| Net assets with donor restrictions | $268,572,413 |
| 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 | $1,300,057,209 |