Rockford University
- Assets
- $55.7m
- Revenue
- $42.8m
- Investments
- $11.7m
- Employees
- 664
- Location
- Rockford, IL
- Founding
- 05/1937
- Data as of
- 06/2022
- EIN
- 36-2167842
Organization Overview
Rockford University is located in Rockford, IL. The organization was established in 1937. 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, Rockford University employed 664 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockford 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, Rockford University generated $42.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $42.3m during the year ending 06/2022. While expenses have increased by 2.7% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE MEN & WOMEN TO LEAD RESPONSIBLE LIVES BY MEANS OF A CURRICULUM GROUNDED IN LIBERAL ARTS LEARNING AND COMPLETED AND EXTENDED BY PROFESSIONAL AND PRACTICAL EXPERIENCE. THROUGH THE TOTAL ACADEMIC AND CO-CURRICULAR EXPERIENCE, ROCKFORD UNIVERSITY STRIVES TO PREPARE STUDENTS FOR FULFILLING LIVES, CAREERS AND PARTICIPATION IN A MODERN AND CHANGING GLOBAL SOCIETY.
Describe the Organization's Program Activity:
FOUR YEAR GRADUATE AND UNDERGRADUATE COLLEGE IN ROCKFORD, IL.
OPERATIONS AND MAINTENANCE OF PLANT FOR FOUR YEAR GRADUATE AND UNDERGRADUATE UNIVERSITY.
AUXILIARY ENTERPRISES (RESIDENCE HALLS AND DINING SERVICES)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric W Fulcomer President | OfficerTrustee | 40 | $316,133 |
Joel Moore Chair | OfficerTrustee | 1 | $0 |
L Thomas Heiser Vice Chair | OfficerTrustee | 1 | $0 |
Barbara Tanaglia Secretary | OfficerTrustee | 1 | $0 |
Jeffry Potter Treasurer | OfficerTrustee | 1 | $0 |
Aaron Potter Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Campus Operations & Maintenance And Food | 6/29/22 | $3,096,157 |
Ruffalo Noel Levitz Enrollment Services | 6/29/22 | $314,319 |
Ellucian Company Lp Software Maintenance & Service | 6/29/22 | $231,844 |
Chartwell Agency Marketing & Promotional | 6/29/22 | $180,525 |
Freeport Industrial Roofing Roofing Contractor | 6/29/22 | $211,975 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,750 |
| Related organizations | $0 |
| Government grants | $3,290,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,080,306 |
| Noncash contributions included in lines 1a–1f | $95,823 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,388,351 |
| Total Program Service Revenue | $36,547,495 |
| Investment income | $300,583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,712 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $392,137 |
| Net Income from Fundraising Events | $34,673 |
| Net Income from Gaming Activities | $2,235 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,847,892 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,306,330 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $929,853 |
| Compensation of current officers, directors, key employees. | $491,983 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,617,639 |
| Pension plan accruals and contributions | $364,695 |
| Other employee benefits | $1,290,738 |
| Payroll taxes | $733,287 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,430 |
| Fees for services: Accounting | $123,224 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,812 |
| Fees for services: Other | $2,778,252 |
| Advertising and promotion | $349,040 |
| Office expenses | $216,659 |
| Information technology | $732,521 |
| Royalties | $0 |
| Occupancy | $1,429,830 |
| Travel | $258,830 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,006 |
| Interest | $317,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,790,401 |
| Insurance | $242,018 |
| All other expenses | $2,980,875 |
| Total functional expenses | $42,286,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,467,868 |
| Savings and temporary cash investments | $1,000,001 |
| Pledges and grants receivable | $193,609 |
| Accounts receivable, net | $1,439,037 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,594,033 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $564,012 |
| Net Land, buildings, and equipment | $19,124,866 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,685,424 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,655,674 |
| Total assets | $55,724,524 |
| Accounts payable and accrued expenses | $2,923,247 |
| Grants payable | $0 |
| Deferred revenue | $368,100 |
| Tax-exempt bond liabilities | $3,373,252 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,910,990 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,843,112 |
| Total liabilities | $12,418,701 |
| Net assets without donor restrictions | $12,113,473 |
| Net assets with donor restrictions | $31,192,350 |
| 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 | $55,724,524 |