Houghton University
- Assets
- $128.7m
- Revenue
- $37.9m
- Investments
- $0.0
- Employees
- 943
- Location
- Houghton, NY
- Founding
- 05/1970
- Data as of
- 05/2022
- EIN
- 16-0743045
Organization Overview
Houghton University is located in Houghton, NY. The organization was established in 1970. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Houghton University employed 943 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Houghton 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 05/2022, Houghton University generated $37.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $34.5m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. 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
A NATIONALLY RANKED CHRISTIAN UNIVERSITY FOUNDED BY THE WESLEYAN CHURCH.
Describe the Organization's Program Activity:
INSTRUCTION:UNDERGRADUATE RESIDENTIAL EDUCATION: HOUGHTON UNIVERSITY PROVIDES AN ACADEMICALLY CHALLENGING, CHRIST-CENTERED EDUCATION IN THE LIBERAL ARTS AND SCIENCES TO APPROXIMATELY 700 TRADITIONAL UNDERGRADUATE STUDENTS IN A RURAL, RESIDENTIAL CAMPUS SETTING. APPROXIMATELY 60 MAJORS IN THE LIBERAL ARTS, NATURAL SCIENCES, AND PRE-PROFESSIONAL DEGREES ARE OFFERED. HOUGHTON FOCUSES ON PROVIDING STUDENTS OUTSTANDING EXPERIENTIAL LEARNING OPPORTUNITIES BOTH IN AND OUTSIDE THE CLASSROOM. GRADUATES OF HOUGHTON UNIVERSITY ARE EQUIPPED TO LEAD AND LABOR AS SCHOLAR-SERVANTS IN A CHANGING WORLD.ONLINE EDUCATION: HOUGHTON UNIVERSITY PROVIDES AN ACADEMICALLY CHALLENGING, CHRIST-CENTERED EDUCATION IN THE LIBERAL ARTS TO A DIVERSE STUDENT BODY FROM ROUND THE WORLD THROUGH ITS ONLINE COURSES. LEARNERS ARE OFFERED THE FLEXIBILITY TO EARN A DEGREE AT WHATEVER PACE THEY REQUIRE. HOUGHTON ONLINE STUDENTS THRIVE IN SMALL, PERSONAL ONLINE CLASSES DESIGNED TO FACILITATE CONNECTING QUICKLY WITH PROFESSIONS AND PEERS. STUDENTS ENJOY EXPERIENTIAL, PRACTITIONER-BASED LEARNING IN A DIVERSE, SPIRITUAL COMMUNITY. EIGHT UNDERGRADUATE DEGREE PROGRAMS ARE OFFERED, AS WELL AS TWO MASTER'S LEVEL PROGRAMS.LOCATION BASED EDUCATION: AS HOUGHTON UNIVERSITY SEEKS TO FULFILL ITS MISSION TO PROVIDE EDUCATION TO STUDENTS REGARDLESS OF THEIR ECONOMIC BACKGROUND, OFFSITE EDUCATIONAL PROGRAMS ARE OFFERED TO MEET THE UNIQUE NEEDS OF LEARNERS IN NEARBY COMMUNITIES.
AUXILARY ENTERPRISES: STUDENT HOUSING, FOOD SERVICES, CAMPUS STORE, AND OTHER AUXILARY ENTERPRISES.
STUDENT SERVICES: STUDENT LIFE, ATHLETICS, ADMISSIONS, AND OTHER STUDENT SERVICES.
OTHER PROGRAM EXPENSES INCLUDE GRANTS TO STUDENTS - HEERF, AS WELL AS DEPARTMENTAL PROJECTS AND STUDENT LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Wayne D Lewis Jr President (beg June 2021) | OfficerTrustee | 39 | $158,082 |
Dale Wright VP Of Finance | Officer | 38 | $126,516 |
Jason Towers VP For Enrollment | 40 | $125,962 | |
Cathy Freytag Professor | 40 | $117,619 | |
Karl Sisson VP For Advancement And External Engagement | 39 | $116,207 | |
Paul Young Dean | 40 | $103,144 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daly Paving Construction Services | 5/30/22 | $163,100 |
Kinley Corporation Of Ny Construction Services | 5/30/22 | $1,920,411 |
Metz Culinary Management Food Service | 5/30/22 | $1,893,621 |
Sodexo Inc & Affiliates (Fac Contract Custodial And Maintenance | 5/30/22 | $1,847,013 |
Sparks451 Inc Digital Media And Advertising | 5/30/22 | $218,448 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,392,023 |
| Government grants | $3,564,326 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,705,675 |
| Noncash contributions included in lines 1a–1f | $794,359 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,662,024 |
| Total Program Service Revenue | $20,692,155 |
| Investment income | $3,993,389 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $992,653 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $98,226 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,909,785 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,959,512 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $530,561 |
| Compensation of current officers, directors, key employees. | $442,235 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,066,103 |
| Pension plan accruals and contributions | $204,727 |
| Other employee benefits | $2,102,273 |
| Payroll taxes | $774,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $281,465 |
| Fees for services: Accounting | $77,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $8,400 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,768,598 |
| Advertising and promotion | $261,278 |
| Office expenses | $308,242 |
| Information technology | $392,355 |
| Royalties | $778 |
| Occupancy | $2,137,668 |
| Travel | $799,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,277 |
| Interest | $1,081,646 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,950,625 |
| Insurance | $244,555 |
| All other expenses | $2,719,380 |
| Total functional expenses | $34,454,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $617,200 |
| Savings and temporary cash investments | $5,838,821 |
| Pledges and grants receivable | $337,593 |
| Accounts receivable, net | $1,357,623 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $831,914 |
| Inventories for sale or use | $81,474 |
| Prepaid expenses and deferred charges | $509,340 |
| Net Land, buildings, and equipment | $39,636,944 |
| Investments—publicly traded securities | $69,897,053 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,622,555 |
| Total assets | $128,730,517 |
| Accounts payable and accrued expenses | $2,964,710 |
| Grants payable | $0 |
| Deferred revenue | $942,754 |
| Tax-exempt bond liabilities | $22,250,000 |
| 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 | $5,698,304 |
| Total liabilities | $31,855,768 |
| Net assets without donor restrictions | $23,069,026 |
| Net assets with donor restrictions | $73,805,723 |
| 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 | $128,730,517 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Houghton University has recieved totaling $2,200.
| Awarding Organization | Amount |
|---|---|
King Scholarship Fund Dallas, TX PURPOSE: SCHOLARSHIP | $2,200 |
Endowment Analysis
| Beg. Balance | $77,840,929 |
| Earnings | -$8,312,249 |
| Net Contributions | $2,747,441 |
| Other Expense | $1,422,579 |
| Grants | $988,465 |
| Ending Balance | $69,865,077 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain College Inc Burlington, VT | $240,784,775 | $119,718,125 |
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 |
Lebanon Valley College Annville, PA | $214,348,628 | $104,612,783 |
Seton Hill University Greensburg, PA | $189,465,294 | $99,847,300 |
Juniata College Huntingdon, PA | $246,892,473 | $100,031,718 |
Washington And Jefferson College Washington, PA | $317,857,588 | $82,152,318 |