Gannon University
- Assets
- $276.6m
- Revenue
- $153.2m
- Investments
- $263.2k
- Employees
- 1,984
- Location
- Erie, PA
- Founding
- 06/1987
- Data as of
- 06/2020
- EIN
- 25-0496976
Organization Overview
Gannon University is located in Erie, PA. The organization was established in 1987. 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, Gannon University employed 1,984 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Gannon 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, Gannon University generated $153.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $145.2m during the year ending 06/2020. While expenses have increased by 3.6% 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
GANNON UNIVERSITY IS AN INSTITUTION OF POST-SECONDARY EDUCATION WITH CAMPUSES IN ERIE, PA AND RUSKIN, FL, OFFERING OVER 100 ACADEMIC PROGRAMS, INCLUDING ONLINE AND TRADITIONAL ASSOCIATE, BACHELOR'S, MASTER'S, AND DOCTORAL DEGREES TO A FALL 2020 STUDENT ENROLLMENT OF 4,251.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND OTHER SUPPORTED PROGRAMS: GANNON UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING ASSOCIATE, BACCALAUREATE, AND GRADUATE EDUCATION TO 3,708 FTE STUDENTS. THE UNIVERSITY EMPLOYS APPROXIMATELY 238 FULL-TIME AND 214 PART-TIME FACULTY MEMBERS.
AUXILIARY ENTERPRISES: GANNON UNIVERSITY PROVIDES SERVICE TO STUDENTS AND STAFF INCLUDING PRIMARY DORMITORY ACCOMMODATIONS FOR 1220 STUDENTS AND ASSOCIATED FOOD SERVICES DURING THE ACADEMIC YEAR AND SUMMER SESSIONS.
PUBLIC SERVICE: THE UNIVERSITY SUPPORTS SEVERAL PROGRAMS WHICH BENEFIT STUDENTS AS WELL AS THE GENERAL PUBLIC. THESE SERVICES INCLUDE A SMALL BUSINESS DEVELOPMENT CENTER, A CHAMBER ORCHESTRA, A LEADERSHIP DEVELOPMENT PROGRAM, AND SEVERAL PROGRAMS WHOSE GOALS INCLUDE ENVIRONMENTAL AND SOCIAL CONCERNS.
RESEARCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Taylor President | OfficerTrustee | 40 | $464,571 |
Mahesh Aggarwal Professor-Mechanical Engineering | 40 | $231,063 | |
Walter Iwanenko VP Academic Affairs | Officer | 40 | $216,916 |
Steven Mauro VP Academic Administration | Officer | 40 | $215,272 |
William Edmondson VP Enrollment | Officer | 40 | $198,585 |
Barbara Beuscher VP University Advancement | Officer | 40 | $193,484 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hamot Anesthesia Program Education Services | 6/29/21 | $691,470 |
Ellucian Company Lp Information Technology | 6/29/21 | $458,137 |
Building Systems Inc General Contractor | 6/29/21 | $11,873,000 |
Metz And Associates Ltd Food Service Provider | 6/29/21 | $2,878,319 |
The University Financing Foundation Project Management | 6/29/21 | $389,782 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,273,807 |
| Investment income | $2,319,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,214 |
| Net Gain/Loss on Asset Sales | $689,339 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,206,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $51,167,941 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,017,025 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,024,762 |
| Pension plan accruals and contributions | $2,601,005 |
| Other employee benefits | $9,188,611 |
| Payroll taxes | $3,135,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $193,975 |
| Fees for services: Accounting | $116,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $19,520 |
| Fees for services: Investment Management | $60 |
| Fees for services: Other | $4,727,934 |
| Advertising and promotion | $805,527 |
| Office expenses | $1,836,928 |
| Information technology | $1,615,548 |
| Royalties | $0 |
| Occupancy | $3,512,170 |
| Travel | $1,647,291 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $646,945 |
| Interest | $3,519,188 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,630,618 |
| Insurance | $849,120 |
| All other expenses | $0 |
| Total functional expenses | $145,207,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,225 |
| Savings and temporary cash investments | $27,393,327 |
| Pledges and grants receivable | $2,449,201 |
| Accounts receivable, net | $7,365,395 |
| 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 | $1,203,712 |
| Investments—publicly traded securities | $84,390,372 |
| Investments—other securities | $263,228 |
| Investments—program-related | $1,722,324 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $276,609,681 |
| Accounts payable and accrued expenses | $17,525,991 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $82,689,708 |
| 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 | $2,262,218 |
| Total liabilities | $102,477,917 |
| 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 | $174,131,764 |
Grants Awarded
Over the last fiscal year, Gannon University has awarded $150,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF ERIE PURPOSE: FIRE AND EMERGENCY SUPPORT | $100,000 |
Erie, PA PURPOSE: CHARITABLE CONTRIBUTION | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 41 grants that Gannon University has recieved totaling $1,670,426.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $310,000 |
Jem Charitable Foundation Erie, PA PURPOSE: SCHOLARSHIPS | $250,000 |
Pierre And Kathryn Mccormick Family Foundation Inc Venice, FL PURPOSE: UNRESTRICTED | $250,000 |
Community Foundation Of Greater Johnstown Johnstown, PA PURPOSE: ADAPTIVE VIRTUAL FAU | $240,000 |
George I Alden Trust Worcester, MA PURPOSE: TO FURTHER EDUCATION | $110,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $74,100 |
Endowment Analysis
| Beg. Balance | $63,539,373 |
| Earnings | $21,317,237 |
| Net Contributions | $1,080,340 |
| Other Expense | $1,120,952 |
| Grants | $1,359,048 |
| Ending Balance | $83,456,950 |
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 |