Saint Peters University
- Assets
- $156.3m
- Revenue
- $128.5m
- Investments
- $249.1k
- Employees
- 1,259
- Location
- Jersey City, NJ
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 22-1508627
Organization Overview
Saint Peters University is located in Jersey City, NJ. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2023, Saint Peters University employed 1,259 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Saint Peters 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 06/2022, Saint Peters University generated $128.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $123.0m during the year ending 06/2022. While expenses have increased by 0.9% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE A DIVERSE COMMUNITY OF LEARNERS TO EXCEL, LEAD, SERVE AND PROMOTE JUSTICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND ACADEMIC SUPPORT - THE UNIVERSITY PROVIDES ACCREDITED COURSES AND OTHER RELATED SERVICES TO APPROXIMATELY 3,600 STUDENTS, INCLUDING BOTH DAY AND EVENING SESSIONS, FOR FULL-TIME OR PART-TIME UNDERGRADUATE (60 PROGRAMS) AND SEVERAL GRADUATE STUDY PROGRAMS. FINANCIAL AID IS AWARDED TO STUDENTS FROM INSTITUTIONAL SOURCES BASED ON ACADEMIC ACHIEVEMENT, ATHLETIC ABILITY AND NEED.
STUDENT SERVICES - INCLUDES ENROLLMENT SERVICES, REGISTRAR, HEALTH AND COUNSELING PROGRAMS, FINANCIAL AID, CAMPUS MINISTRY, STUDENT CLUBS AND ORGANIZATIONS, INTERCOLLEGIATE AND INTRAMURAL SPORTS AND ACTIVITIES, AND STUDENT HOUSING.SPONSORED PROGRAMS - INCLUDES VARIOUS PRIVATE PROGRAMS FOR THE BENEFIT OF THE STUDENT BODY, SUCH AS ACADEMIC ENRICHMENT, ACADEMIC CHAIRS, CAPITAL CAMPAIGN, AND VARIOUS ENDOWED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene Cornacchia PHD President, Trustee | OfficerTrustee | 55 | $477,500 |
Bashir Mason Men's Basketball Coach | 55 | $268,631 | |
Frederick P Bonato Provost/academic VP | Officer | 55 | $241,201 |
Leah M Leto Ed VP Advancement | Officer | 55 | $216,653 |
Elizabeth Sullivan VP Enrollment Mgmt/mktg To Jul 2022 | Officer | 55 | $209,633 |
Shaheen Holloway Men's Basketball Coach To Apr 2022 | 55 | $202,365 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Food Services & Facilities Management | 6/29/23 | $6,761,978 |
Allied Universal Facility Services | 6/29/23 | $2,015,362 |
Collins Building Services Facility Services | 6/29/23 | $1,865,855 |
Inkwell Communications Advertising Services | 6/29/23 | $1,610,215 |
Santomauro General Contracting Llc Construction Services | 6/29/23 | $1,329,011 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $548,220 |
| Related organizations | $0 |
| Government grants | $17,450,109 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,229,984 |
| Noncash contributions included in lines 1a–1f | $739,197 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,228,313 |
| Total Program Service Revenue | $93,999,738 |
| Investment income | $1,089,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,459 |
| Net Gain/Loss on Asset Sales | $7,182,039 |
| Net Income from Fundraising Events | -$71,421 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,474,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $46,489,270 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,810,398 |
| Compensation of current officers, directors, key employees. | $1,388,399 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,379,981 |
| Pension plan accruals and contributions | $903,554 |
| Other employee benefits | $3,731,091 |
| Payroll taxes | $2,023,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $348,192 |
| Fees for services: Accounting | $546,264 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $214,621 |
| Fees for services: Other | $3,357,487 |
| Advertising and promotion | $3,205,501 |
| Office expenses | $2,572,254 |
| Information technology | $463,304 |
| Royalties | $0 |
| Occupancy | $13,379,296 |
| Travel | $840,644 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,542,978 |
| Interest | $1,791,155 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,413,448 |
| Insurance | $923,540 |
| All other expenses | $936,441 |
| Total functional expenses | $122,993,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,301,695 |
| Savings and temporary cash investments | $887,404 |
| Pledges and grants receivable | $12,525,603 |
| Accounts receivable, net | $4,051,294 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,133,922 |
| Net Land, buildings, and equipment | $88,825,674 |
| Investments—publicly traded securities | $35,729,828 |
| Investments—other securities | $249,099 |
| Investments—program-related | $0 |
| Intangible assets | $621,993 |
| Other assets | $5,930,048 |
| Total assets | $156,256,560 |
| Accounts payable and accrued expenses | $7,764,204 |
| Grants payable | $0 |
| Deferred revenue | $4,802,384 |
| Tax-exempt bond liabilities | $16,609,633 |
| Escrow or custodial account liability | $3,870 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $26,657,075 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,764,197 |
| Total liabilities | $65,601,363 |
| Net assets without donor restrictions | $33,276,964 |
| Net assets with donor restrictions | $57,378,233 |
| 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 | $156,256,560 |