Rochester Institute Of Technology

Rochester Institute Of Technology 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 06/2020, Rochester Institute Of Technology employed 12,552 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 06/2020, Rochester Institute Of Technology generated $849.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $813.9m during the year ending 06/2020. While expenses have increased by 2.6% per year over the past 5 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 96 individual grants totaling $2,317,181. 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 990 Filing

TAX YEAR

2020

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:

Part 3 - Line 4a

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 COUNTRIES. RIT TOTAL ENROLLMENT IN FALL 2019 WAS APPROXIMATELY 18,900, WHICH INCLUDED APPROXIMATELY 15,750 UNDERGRADUATE AND 3,150 GRADUATE STUDENTS. APPROXIMATELY 16,460 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 1,130 STUDENTS FROM THE UNITED STATES AND ABROAD. OVER THE PRECEDING 10 YEARS, ENROLLMENT HAS INCREASED FROM 16,774 STUDENTS IN THE FALL OF 2009 TO 18,897 STUDENTS IN THE FALL OF 2019, AN INCREASE OF 13%.


STUDENT AND AUXILIARY SERVICES - STUDENT SERVICES PROVIDE STUDENTS WITH ADDITIONAL ENRICHMENT AND EDUCATIONAL OPPORTUNITIES. SUCH SERVICES INCLUDE ATHLETICS, STUDENT HEALTH AND ADMISSIONS. 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 $66.5 MILLION, A DECREASE OF $20.6M 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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Rochester Institute Of Technology Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Trustee
$0

Rochester Institute Of Technology Vendors

Vendor Name (Service)Compensation
American Campus Communities Operating Ptp Llc
Rent
$841,474
Dga Builders Llc
Construction Services
$1,648,779
Bond Schoeneck & King Pllc
Legal Services
$1,036,577
Lechase Construction Services Llc
Construction Services
$6,434,302
Frederico Construction & Development Llc
Construction Services
$2,685,230
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$2,870
Related organizations$0
Government grants $136,212,344
All other contributions, gifts, grants, and similar amounts not included above$31,944,266
Noncash contributions included in lines 1a–1f $15,822,138
Total Revenue from Contributions, Gifts, Grants & Similar$168,159,480
Total Program Service Revenue$626,051,879
Investment income $17,342,304
Tax Exempt Bond Proceeds $487
Royalties $258,750
Net Rental Income -$388,994
Net Gain/Loss on Asset Sales $30,895,527
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $849,584,640

Rochester Institute Of Technology Grants Awarded

Over the last fiscal year, Rochester Institute Of Technology has awarded $336,700 in support to 18 organizations.

Grant RecipientAmount

GREATER ROCHESTER ENTERPRISE INC

Org PageRecipient Profile

Rochester, NY

PURPOSE: Sponsorship

$50,000

HENRIETTA FIRE DISTRICT

PURPOSE: General Support

$45,000

AMERICAN SOCIETY FOR DEAF CHILDREN

Org PageRecipient Profile

Woodbine, MD

PURPOSE: Event Sponsorship

$36,000

TEXAS SCHOOL FOR THE DEAF

PURPOSE: Conference Sponsorship

$32,000

HOCKEY WESTERN NEW YORK LLC

PURPOSE: Sponsorship

$26,000

ROCHESTER REGIONAL HEALTH FOUNDATION

Org PageRecipient Profile

Rochester, NY

PURPOSE: Event Support

$20,000
View Grant Profile

Rochester Institute Of Technology Grants Recieved

Over the last fiscal year, we have identified 48 grants that Rochester Institute Of Technology has recieved totaling $809,537.

Awarding OrganizationAmount
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$133,541
Denso North America Foundation

Southfield, MI

PURPOSE: RESEARCH

$112,485
Esl Charitable Foundation Inc

Rochester, NY

PURPOSE: EMPLOYMENT

$100,000
Communication Service For The Deaf Inc

Austin, TX

PURPOSE: SUPPORT CSD STUDENT DEV. CTR & NTID

$74,817
Daniels Fund

Denver, CO

PURPOSE: SCHOLARSHIPS

$52,812
New York State Health Foundation

New York, NY

PURPOSE: PREVENTING GUN VIOLENCE USING A COMMUNITY ENGAGEMENT MODEL

$38,900
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$957,232,492
Earnings$26,304,222
Net Contributions$10,038,241
Other Expense$30,400,452
Grants$9,142,719
Ending Balance$954,031,784

Rochester Institute Of Technology Peer Organizations

Organization NameAssets
Fordham University
Bronx, NY
$936,054,028
Rochester Institute Of Technology
Rochester, NY
$849,584,640
St Johns University New York
Jamaica, NY
$810,687,746
Rensselaer Polytechnic Institute
Troy, NY
$653,047,178
Villanova University
Villanova, PA
$644,725,997
The New School
New York, NY
$558,997,855
Hofstra University
Hempstead, NY
$592,927,157
Rockefeller University
New York, NY
$455,447,251
Lehigh University
Bethlehem, PA
$506,773,429
American University Of Beirut
New York, NY
$608,300,843
Brandeis University
Waltham, MA
$457,392,877
Seton Hall University
South Orange, NJ
$456,494,000

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