Alvernia University
- Assets
- $170.6m
- Revenue
- $90.0m
- Investments
- $5.7m
- Employees
- 1,364
- Location
- Reading, PA
- Founding
- 03/1946
- Data as of
- 06/2020
- EIN
- 23-1522643
Organization Overview
Alvernia University is located in Reading, PA. 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 06/2021, Alvernia University employed 1,364 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Alvernia 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 06/2020, Alvernia University generated $90.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $89.5m during the year ending 06/2020. While expenses have increased by 3.0% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
A FAST GROWING FRANCISCAN UNIVERSITY GROUNDED IN THE CATHOLIC AND LIBERAL ARTS TRADITIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCT, OPERATE AND MAINTAIN A COLLEGE FOR THE EDUCATION, TRAINING AND SPIRITUAL GUIDANCE OF MEN AND WOMEN, WITH THE POWER TO CONFER UPON STUDENTS, WHO HAVE SUCCESSFULLY COMPLETED THE REQUIRED COURSES, THE DEGREE OF BACHELOR OF ARTS AND THE DEGREE OF BACHELOR OF SCIENCE, AND SUCH OTHER DEGREES AS MAY BE APPROVED AND AUTHORIZED BY THE DEPARTMENT OF EDUCATION OF THE COMMONWEALTH OF PENNSYLVANIA. THE COLLEGE HAS APPROXIMATELY 3,000 STUDENTS, INCLUDING UNDERGRADUATES, GRADUATES, AND PHD STUDENTS. APPROXIMATELY 33% OF THE FULL-TIME UNDERGRADUATE STUDENTS COME FROM BERKS COUNTY, PA, 43% FROM OTHER PENNSYLVANIA AREAS, AND 24% FROM OTHER STATES AND COUNTRIES.
CONDUCT, OPERATE AND MAINTAIN A COLLEGE FOR THE EDUCATION, TRAINING AND SPIRITUAL GUIDANCE OF MEN AND WOMEN, WITH THE POWER TO CONFER UPON STUDENTS, WHO HAVE SUCCESSFULLY COMPLETED THE REQUIRED COURSES, THE DEGREE OF BACHELOR OF ARTS AND THE DEGREE OF BACHELOR OF SCIENCE, AND SUCH OTHER DEGREES AS MAY BE APPROVED AND AUTHORIZED BY THE DEPARTMENT OF EDUCATION OF THE COMMONWEALTH OF PENNSYLVANIA. THE COLLEGE HAS APPROXIMATELY 3,000 STUDENTS, INCLUDING UNDERGRADUATES, GRADUATES, AND PHD STUDENTS. APPROXIMATELY 33% OF THE FULL-TIME UNDERGRADUATE STUDENTS COME FROM BERKS COUNTY, PA, 43% FROM OTHER PENNSYLVANIA AREAS, AND 24% FROM OTHER STATES AND COUNTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Loyack President | OfficerTrustee | 40 | $409,160 |
Richard Stichler Professor | 40 | $205,123 | |
Karen Ann Cameron Associate Professor | 40 | $202,172 | |
John Mccloskey Svp, Chief Of Staff, Secretary | Officer | 40 | $195,784 |
Mary-Alice Ozechoski Vp, Enrollment Management | Officer | 40 | $194,416 |
Glynis Fitzgerald Provost | Officer | 40 | $185,090 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Warfel Construction Co Construction | 6/29/21 | $7,951,107 |
Wiley Education Services Education Services | 6/29/21 | $1,081,054 |
Aladdin Food Services | 6/29/21 | $2,475,797 |
Wiley Education Services Education Services | 6/29/21 | $1,081,054 |
Aladdin Food Services | 6/29/21 | $2,475,797 |
Education Advisory Board Education Services | 6/29/21 | $709,343 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,938,043 |
| Investment income | $808,166 |
| Tax Exempt Bond Proceeds | $758 |
| Royalties | $0 |
| Net Rental Income | $12,479 |
| Net Gain/Loss on Asset Sales | $295,836 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,031,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $26,981,495 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,867,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,674,136 |
| Pension plan accruals and contributions | $1,928,588 |
| Other employee benefits | $5,324,394 |
| Payroll taxes | $1,679,778 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $352,414 |
| Fees for services: Accounting | $84,630 |
| Fees for services: Lobbying | $49,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,836 |
| Fees for services: Other | $8,313,800 |
| Advertising and promotion | $674,381 |
| Office expenses | $1,607,139 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,556,003 |
| Travel | $259,581 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $146,646 |
| Interest | $2,278,176 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,417,590 |
| Insurance | $465,914 |
| All other expenses | $0 |
| Total functional expenses | $89,491,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $795,984 |
| Savings and temporary cash investments | $4,971,742 |
| Pledges and grants receivable | $2,231,108 |
| Accounts receivable, net | $3,776,946 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $233,128 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $866,627 |
| Investments—publicly traded securities | $20,237,843 |
| Investments—other securities | $5,687,104 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,965,128 |
| Total assets | $170,646,570 |
| Accounts payable and accrued expenses | $6,861,774 |
| Grants payable | $0 |
| Deferred revenue | $1,268,706 |
| Tax-exempt bond liabilities | $72,696,466 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $642,464 |
| Unsecured mortgages and notes payable | $5,922,689 |
| Other liabilities | $4,710,149 |
| Total liabilities | $92,102,248 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $78,544,322 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Alvernia University has recieved totaling $1,812,289.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $1,621,650 |
United Way Of Berks County Reading, PA PURPOSE: ONE-TIME GRANT: OAKBROOK PHYSICAL THERAPY CLINIC | $40,000 |
Pennsylvania 30 Day Fund Inc Philadelphia, PA PURPOSE: OPAKE INSTITUTE'S STUDENT POWERED BUSINESS INCUBATOR PROGRAM | $21,000 |
Henry Janssen Foundation Wyomissing, PA PURPOSE: READING COLLEGIATE SCHOLARS | $20,000 |
Berks Alliance Llc Reading, PA PURPOSE: WORK STUDY PROGRAM | $16,713 |
Usa Triathlon Foundation Colorado Springs, CO PURPOSE: See Part IV | $15,000 |
Endowment Analysis
| Beg. Balance | $17,243,426 |
| Earnings | $5,524,884 |
| Net Contributions | $2,701 |
| Grants | $499,270 |
| Ending Balance | $22,271,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
University Of Dayton Dayton, OH | $1,782,604,426 | $747,930,230 |
Villanova University Villanova, PA | $2,287,455,797 | $872,271,471 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
Lehigh University Bethlehem, PA | $3,057,301,515 | $713,288,867 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Seton Hall University South Orange, NJ | $890,349,000 | $473,034,000 |