Rochester Institute Of Technology

Organization Overview

Rochester Institute Of Technology is located in Rochester, NY. The organization was established in 1943. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Rochester Institute Of Technology employed 10,958 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Institute Of Technology 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, Rochester Institute Of Technology generated $1.1b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $922.3m during the year ending 06/2022. While expenses have increased by 3.7% 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.

Since 2015, Rochester Institute Of Technology has awarded 147 individual grants totaling $3,270,797. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ROCHESTER INSTITUTE OF TECHNOLOGY (RIT) SHAPES THE FUTURE AND IMPROVES THE WORLD THROUGH CREATIVITY AND INNOVATION. AS AN ENGAGED, INTELLECTUALLY CURIOUS, AND SOCIALLY CONSCIOUS COMMUNITY, RIT LEVERAGES THE POWER OF TECHNOLOGY, THE ARTS, AND DESIGN FOR THE GREATER GOOD.

Describe the Organization's Program Activity:

INSTRUCTION AND ACADEMIC SUPPORT - ESTABLISHED IN 1829, RIT IS ONE OF THE WORLD'S PREMIER UNIVERSITIES WITH AN INNOVATIVE AND CREATIVE STUDENT BODY FROM ALL FIFTY STATES AND OVER 100 NATIONS. RIT TOTAL ENROLLMENT IN FALL 2021 WAS APPROXIMATELY 19,720, WHICH INCLUDED APPROXIMATELY 16,670 UNDERGRADUATE AND 3,050 GRADUATE STUDENTS. APPROXIMATELY 16,875 STUDENTS ARE ENROLLED AT RIT'S MAIN CAMPUS AND THE REMAINDER AT INTERNATIONAL LOCATIONS. RIT IS COMPRISED OF NINE COLLEGES AND TWO DEGREE-GRANTING ACADEMIC UNITS OFFERING 254 GRADUATE AND UNDERGRADUATE PROGRAMS. NTID (NATIONAL TECHNICAL INSTITUTE FOR THE DEAF), ONE OF RIT'S COLLEGES, IS THE WORLD'S FIRST AND LARGEST TECHNICAL INSTITUTE COLLEGE FOR DEAF STUDENTS WITH APPROXIMATELY 1,170 STUDENTS FROM THE UNITED STATES AND ABROAD. OVER THE PRECEDING 10 YEARS, ENROLLMENT HAS INCREASED FROM 17,652 STUDENTS IN THE FALL OF 2011 TO 19,718 STUDENTS IN THE FALL OF 2021, AN INCREASE OF 12%.


STUDENT AND AUXILIARY SERVICES - STUDENT SERVICES PROVIDE STUDENTS WITH ADDITIONAL ENRICHMENT AND EDUCATIONAL OPPORTUNITIES. SUCH SERVICES INCLUDE STUDENT HEALTH, ATHLETICS, AND OTHER RECREATIONAL ACTIVITIES. AUXILIARIES PROVIDE ESSENTIAL SERVICES TO STUDENTS IN SUPPORT OF RIT'S EDUCATIONAL MISSION. THESE SERVICES INCLUDE HOUSING OPERATIONS AND DINING SERVICES. SALES AND SERVICES OF AUXILIARY ENTERPRISES GENERATED TOTAL REVENUE OF $86 MILLION, AN INCREASE OF $18.1M FROM THE PRIOR YEAR. SURPLUSES FROM AUXILIARY SERVICES SUPPORT THE OPERATING BUDGET OF THE UNIVERSITY.


RESEARCH AND PUBLIC SUPPORT - RIT ENGAGES IN PUBLIC SERVICE ACTIVITIES THAT BENEFIT THE GENERAL COMMUNITY IN WHICH IT RESIDES, INCLUDING TRAINING, POSTSECONDARY EDUCATION FOR THE DEAF AND HARD OF HEARING, AND K-12 PROGRAMS. RIT ALSO CONDUCTS RESEARCH TO ADVANCE THE BODY OF KNOWLEDGE, ENHANCE STUDENT AND FACULTY LEARNING AND BUILD ITS REPUTATION IN THE SCIENTIFIC AND TECHNICAL COMMUNITIES IN SUPPORT OF, OR IN CONCERT WITH, THE UNIVERSITY'S EXEMPT MISSION, WHILE PROVIDING POSITIVE RETURNS TO OUR SPONSORING PARTNERS. AS ARTICULATED IN RIT'S STRATEGIC PLAN, THE UNIVERSITY CONTINUES TO PLACE EMPHASIS ON ITS REVENUE GROWTH IN THE RESEARCH PORTFOLIO.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hbt Architects Llp
Architect Services
$3,143,189
Lechase Construction Services Llc
Construction Services
$1,480,539
Bond Schoeneck & King Pllc
Legal Services
$738,337
Wheeler Joseph C (Dba Jw Renovations)
Renovation Services
$400,211
Frederico Construction & Development Llc
Construction Services
$1,090,051
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$14,715
Related organizations$0
Government grants $181,600,094
All other contributions, gifts, grants, and similar amounts not included above$32,358,701
Noncash contributions included in lines 1a–1f $11,214,558
Total Revenue from Contributions, Gifts, Grants & Similar$213,973,510
Total Program Service Revenue$742,399,043
Investment income $20,331,652
Tax Exempt Bond Proceeds $893,984
Royalties $502,941
Net Rental Income -$451,949
Net Gain/Loss on Asset Sales $87,355,225
Net Income from Fundraising Events -$8,639
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,071,324,345

Grants Awarded

Over the last fiscal year, Rochester Institute Of Technology has awarded $365,975 in support to 19 organizations.

Grant RecipientAmount

GREATER ROCHESTER ENTERPRISE INC

Org PageRecipient Profile

Rochester, NY

PURPOSE: General Support

$50,000

HENRIETTA FIRE DISTRICT

PURPOSE: General Support

$45,000

Boulder, CO

PURPOSE: Sponsorship/Event Sponsorship

$38,000

ROCHESTER REGIONAL HEALTH FOUNDATION

Org PageRecipient Profile

Rochester, NY

PURPOSE: Event Sponsorship

$25,000

ROCHESTER FRINGE FESTIVAL INC

Org PageRecipient Profile

Rochester, NY

PURPOSE: Event Sponsorship

$25,000

HOCKEY WESTERN NEW YORK LLC

PURPOSE: Sponsorship

$25,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 8 grants that Rochester Institute Of Technology has recieved totaling $222,802.

Awarding OrganizationAmount
Louis S And Molly B Wolk Foundation

Rochester, NY

PURPOSE: GLASS BOX RECEPTION

$120,000
Mccue Memorial Foundation

Rochester, NY

PURPOSE: GENERAL DONATION

$36,252
Louis S And Molly B Wolk Foundation

Rochester, NY

PURPOSE: GLASS BOX RECEPTION AREA

$30,000
Emil Muller Foundation Inc

Penfield, NY

PURPOSE: EMIL MULLER SCHOLARS SCHOLARSHIP

$30,000
King Scholarship Fund

Dallas, TX

PURPOSE: SCHOLARSHIP

$3,350
$1,650
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,302,872,685
Earnings-$21,210,360
Net Contributions$17,697,847
Other Expense$32,516,775
Grants$10,062,546
Ending Balance$1,256,780,851

Peer Organizations

Organization NameAssets
Fordham University
Bronx, NY
$953,892,663
Rochester Institute Of Technology
Rochester, NY
$1,071,324,345
St Johns University New York
Jamaica, NY
$798,473,536
Villanova University
Villanova, PA
$872,271,471
Rensselaer Polytechnic Institute
Troy, NY
$653,047,178
Rockefeller University
New York, NY
$535,346,959
Lehigh University
Bethlehem, PA
$713,288,867
The New School
New York, NY
$558,997,855
Hofstra University
Hempstead, NY
$606,887,297
American University Of Beirut
New York, NY
$608,300,843
Quinnipiac University
Hamden, CT
$531,949,834
Seton Hall University
South Orange, NJ
$473,034,000

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