University Of Puget Sound
- Assets
- $771.4m
- Revenue
- $141.2m
- Investments
- $405.6m
- Employees
- 2,226
- Location
- Tacoma, WA
- Founding
- 01/1950
- Data as of
- 06/2021
- EIN
- 91-0564961
Organization Overview
University Of Puget Sound is located in Tacoma, WA. The organization was established in 1950. 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, University Of Puget Sound employed 2,226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Puget Sound 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 06/2021, University Of Puget Sound generated $141.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $155.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION
Describe the Organization's Program Activity:
THE ONLY NATIONAL INDEPENDENT UNDERGRADUATE LIBERAL ARTS COLLEGE IN WESTERN WASHINGTON, PUGET SOUND SERVES APPROXIMATELY 2,000 STUDENTS FROM 46 STATES AND ABROAD, PROVIDING 1,200 CLASSES IN MORE THAN 50 MAJOR AREAS OF STUDY IN THE ARTS, SCIENCES, HUMANITIES, AND SOCIAL SCIENCES, INCLUDING GRADUATE PROGRAMS IN EDUCATION, OCCUPATIONAL THERAPY, PHYSICAL THERAPY, AND PUBLIC HEALTH. THE COLLEGE MAINTAINS A LOW STUDENT-FACULTY RATIO AND PLACES AN EMPHASIS ON EXCELLENCE IN TEACHING. AN ACADEMICALLY RIGOROUS RESIDENTIAL COLLEGE, PUGET SOUND OFFERS A FULL RANGE OF SERVICES TO SUPPORT THE ACADEMIC EXPERIENCE AND STUDENT SUCCESS, INCLUDING ATHLETICS, STUDY ABROAD, COMMUNITY SERVICE, INTERNSHIPS, CAREER PREPARATION, AND LEADERSHIP OPPORTUNITIES. PUGET SOUND ACTIVELY SEEKS AND SUPPORTS A DIVERSITY (SEE SCHEDULE O)OF BACKGROUNDS AND PERSPECTIVES THAT INFORM DEEP AND BROAD LIFELONG LEARNING FOR STUDENTS, FACULTY, STAFF, ALUMNI AND THE BROADER COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isiaah Crawford President & Trustee | OfficerTrustee | 40 | $404,319 |
Harry Velez-Quinones Professor | 40 | $320,889 | |
Sherry B Mondou Executive Vice President & CFO | Officer | 40 | $317,741 |
David R Beers P'11 VP For University Relations | Officer | 40 | $317,146 |
Laura L Behling Provost | Officer | 40 | $255,588 |
Joanna Carey Cleveland VP University Counsel/secretary To Board | Officer | 40 | $236,637 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jr Abbott Construction Inc Construction Services | 6/29/21 | $3,850,681 |
Orbis Cascade Alliance Library Management System | 6/29/21 | $474,927 |
Columbia Hospitality Inc Hospitality Management & Consulting | 6/29/21 | $359,833 |
Perella Weinberg Partners Capital Manage Asset Management, Consulting Services | 6/29/21 | $603,791 |
Schuchart Corporation Construction Services | 6/29/21 | $752,704 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,337,628 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,537,100 |
| Noncash contributions included in lines 1a–1f | $532,787 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,874,728 |
| Total Program Service Revenue | $116,222,578 |
| Investment income | $1,403,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,647,505 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,184,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $334,200 |
| Grants and other assistance to domestic individuals. | $54,017,565 |
| Grants and other assistance to Foreign Orgs/Individuals | $7,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,772,239 |
| Compensation of current officers, directors, key employees. | $1,539,946 |
| Compensation to disqualified persons | $143,361 |
| Other salaries and wages | $48,224,397 |
| Pension plan accruals and contributions | $3,436,100 |
| Other employee benefits | $7,824,896 |
| Payroll taxes | $3,666,417 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $211,886 |
| Fees for services: Accounting | $165,821 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $711,613 |
| Fees for services: Other | $4,356,464 |
| Advertising and promotion | $1,305,208 |
| Office expenses | $4,253,660 |
| Information technology | $2,081,005 |
| Royalties | $19,216 |
| Occupancy | $3,288,558 |
| Travel | $324,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,974 |
| Interest | $3,175,870 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,885,591 |
| Insurance | $844,583 |
| All other expenses | $845,143 |
| Total functional expenses | $155,195,070 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,704,890 |
| Savings and temporary cash investments | $57,723,054 |
| Pledges and grants receivable | $3,645,986 |
| Accounts receivable, net | $1,111,523 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,133,931 |
| Inventories for sale or use | $381,752 |
| Prepaid expenses and deferred charges | $966,636 |
| Net Land, buildings, and equipment | $192,972,721 |
| Investments—publicly traded securities | $72,907,138 |
| Investments—other securities | $405,621,241 |
| Investments—program-related | $0 |
| Intangible assets | $9,349,253 |
| Other assets | $832,422 |
| Total assets | $771,350,547 |
| Accounts payable and accrued expenses | $24,053,945 |
| Grants payable | $0 |
| Deferred revenue | $2,292,037 |
| Tax-exempt bond liabilities | $67,357,270 |
| Escrow or custodial account liability | $138,300 |
| 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 | $22,125,214 |
| Total liabilities | $115,966,766 |
| Net assets without donor restrictions | $386,263,177 |
| Net assets with donor restrictions | $269,120,604 |
| 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 | $771,350,547 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Of Puget Sound has recieved totaling $2,343.
| Awarding Organization | Amount |
|---|---|
Hazel Hodgson Charitable Foundation Kennewick, WA PURPOSE: STUDENT SERVICES | $1,343 |
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $378,613,572 |
| Earnings | $115,682,649 |
| Admin Expense | $744,841 |
| Net Contributions | $3,237,127 |
| Other Expense | $14,811,251 |
| Grants | $7,745,578 |
| Ending Balance | $474,231,678 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Corporation Of Gonzaga University Spokane, WA | $1,048,466,141 | $364,739,757 |
Seattle University Seattle, WA | $948,615,677 | $388,497,065 |
University Of Portland Portland, OR | $747,421,010 | $208,192,829 |
Seattle Pacific University Seattle, WA | $387,576,159 | $172,520,081 |
Pacific University Forest Grove, OR | $342,430,674 | $180,443,817 |
Pacific Lutheran University Inc Tacoma, WA | $250,118,186 | $157,900,838 |
Willamette University Salem, OR | $555,407,413 | $131,114,519 |
University Of Puget Sound Tacoma, WA | $771,350,547 | $141,184,806 |
Whitworth University Spokane, WA | $388,239,999 | $215,340,115 |
George Fox University Newberg, OR | $236,953,683 | $138,957,860 |
Saint Martins University Lacey, WA | $107,504,125 | $83,647,205 |
City University Of Seattle Seattle, WA | $61,927,042 | $38,289,518 |