Liabilities / Assets
44th percentile
Higher debt load relative to assets than 44% of similar nonprofits.
EIN 01-0211810 • 501(c)3 • Biddeford, ME
Profile
The University of New England prepares students to thrive in a rapidly-changing world and, in so doing, to improve the health of people, communities, and our planet.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
44th percentile
Higher debt load relative to assets than 44% of similar nonprofits.
Liabilities / Revenue
61st percentile
Higher debt load relative to revenue than 61% of similar nonprofits.
Net Margin
73rd percentile
Higher net margin than 73% of similar nonprofits.
Top Officer Pay
58th percentile
Higher top officer pay than 58% of similar nonprofits.
Top officer pay equals 0.3% of source-year revenue.
Asset Growth
57th percentile
Faster asset growth than 57% of similar nonprofits.
Revenue Growth
41st percentile
Faster revenue growth than 41% of similar nonprofits.
Assets
Up$847,931,625
Up $59,109,835 (+7.5%) from 2024
Liabilities
Down$202,375,604
Down $977,032 (-0.5%) from 2024
Net Assets
Up$645,556,021
Up $60,086,867 (+10%) from 2024
Revenue
Up$322,835,606
Up $19,449,367 (+6.4%) from 2024
Expenses
Up$277,318,637
Up $20,881,897 (+8.1%) from 2024
Net Income
Down$45,516,969
Down $1,432,530 (-3.1%) from 2024
Most recent year
2025 • Form 990Detailed filing. Detailed filing data is available for this year.
The University of New England prepares students to thrive in a rapidly-changing world and, in so doing, to improve the health of people, communities, and our planet.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $410,642,193 | $443,070,935 | ▲ $32,428,742 |
| Land, Buildings, and Equipment, Net | $258,902,517 | $279,138,461 | ▲ $20,235,944 |
| Savings and Temporary Cash Investments | $61,206,533 | $53,493,580 | ▼ $7,712,953 |
| Pledges and Grants Receivable | $15,367,625 | $26,024,735 | ▲ $10,657,110 |
| Accounts Receivable | $7,386,086 | $7,215,829 | ▼ $170,257 |
| Prepaid Expenses and Deferred Charges | $4,449,413 | $4,277,716 | ▼ $171,697 |
| Other Notes and Loans Receivable, Net | $2,091,069 | $1,436,362 | ▼ $654,707 |
| Total Assets | $788,821,790 | $847,931,625 | ▲ $59,109,835 |
| Other Assets Total | $28,776,354 | $33,274,007 | ▲ $4,497,653 |
| Liabilities | |||
| Tax Exempt Bond Liabilities | $124,751,905 | $120,702,016 | ▼ $4,049,889 |
| Mortgage Notes Payable Secured by Investment Property | $24,613,826 | $22,750,603 | ▼ $1,863,223 |
| Deferred Revenue | $20,232,090 | $21,631,614 | ▲ $1,399,524 |
| Accounts Payable and Accrued Expenses | $20,902,675 | $20,519,671 | ▼ $383,004 |
| Other Liabilities | $12,412,501 | $15,697,890 | ▲ $3,285,389 |
| Grants Payable | $439,639 | $1,073,810 | ▲ $634,171 |
| Total Liabilities | $203,352,636 | $202,375,604 | ▼ $977,032 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $510,852,583 | $583,213,528 | ▲ $72,360,945 |
| Net Assets With Donor Restrictions | $74,616,571 | $62,342,493 | ▼ $12,274,078 |
| Total Net Assets Fund Balance | $585,469,154 | $645,556,021 | ▲ $60,086,867 |
| Total Liabilities and Net Assets / Fund Balance | $788,821,790 | $847,931,625 | ▲ $59,109,835 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $231,506,806 | $126,006,902 | $357,513,708 |
| Equipment | $17,129,638 | $19,075,165 | $36,204,803 |
| Other Land Buildings | $23,443,324 | $8,902,870 | $32,346,194 |
| Land | $7,058,693 | - | $7,058,693 |
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2025 | $330,754,456 | $79,244,753 | ▲ $28,766,267 | - | $437,030,656 |
| 2024 | $176,069,053 | $121,140,048 | ▲ $34,520,880 | - | $330,754,456 |
| 2023 | $84,452,651 | $90,683,512 | ▲ $2,115,422 | - | $176,069,053 |
| 2022 | $50,079,209 | $39,953,622 | ▼ $3,352,912 | - | $84,452,651 |
| 2021 | $39,208,629 | $563,114 | ▲ $12,503,771 | - | $50,079,209 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| James D Herbert | President | FT | $684,612 | $343,075 | $1,027,687 |
| Gwendolyn Mahon | Provost/SVP for Academic Affairs | FT | $470,260 | $39,086 | $509,346 |
| Jane Carriero | Dean Osteopathic Med/VP Hlth Affairs | FT | $423,852 | $60,526 | $484,378 |
| James Irwin | SVP for Finance & Admin/CFO | FT | $345,064 | $60,369 | $405,433 |
| Guy DeFeo | Sr. Assoc. Dean for Clinical Educ. | FT | $277,500 | $125,352 | $402,852 |
| Nicole Kimmes | Dean of College of Dental Medicine | FT | $307,737 | $63,328 | $371,065 |
| Stacey Pierce-Talsma | Associate Dean of Academic Affairs | FT | $286,695 | $36,923 | $323,618 |
| Ronald Schneider | General Counsel/VP of Legal Affairs | FT | $295,514 | $12,869 | $308,383 |
| Philip Shapiro | Former SVP Finance/Assoc. VP Invest. | FT | $207,939 | $18,112 | $226,051 |
| Karen Pardue | Former Provost/Associate Provost | FT | $172,750 | $42,219 | $214,969 |
| Name | Title |
|---|---|
| Regan Gallagher | Board Chair |
| E Story Cleland Landis | Board Vice Chair |
| Aleister Saunders | Board Member |
| Calen B Colby | Board Member |
| Daniel P McCormack | Board Member |
| David Engle | Board Member |
| Dimitri Michaud | Board Member |
| Ford Reiche | Board Member |
| Fran Girard | Board Member |
| James Brady | Board Member |
| Jean Ginn Marvin | Board Member |
| Julie Mostov | Board Member |
| Justin H Schair | Board Member |
| Kate Snyder | Board Member |
| Lawrence Wold | Board Member |
| Mark Malone | Board Member |
| Richard Roderick | Board Member |
| Robert Leonard | Board Member |
| Stephen Shannon | Board Member |
| Suzanne Iovanna | Board Member |
| Todd Cesca | Board Member |
| George M Locarno | Past Board Member |
| Mason Irving III | Secretary |
| Cheri L Walker | Treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Ledgewood Construction | Construction | 27 Main Street, South Portland, ME 04106 | $25,962,658 |
| Eat'N Park Hospitality Group Inc | Food Services | PO Box 644091, Pittsburgh, PA 15264-4901 | $6,412,772 |
| Ellucian Company LP | ITS Services | 62578 Collections Center Drive, Chicago, IL 60693 | $5,338,421 |
| AlliedCook Construction Corp | Construction | PO Box 1568, Scarborough, ME 04074 | $2,204,177 |
| Bernstein Shur | Legal Services | 100 Middle Street PO Box 9729, Portland, ME 04104-5029 | $2,004,607 |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Securities Publicly Traded | 15 | $3,253,913 | Sale of Stock |
| Clothing and Household Goods | - | $32,102 | Fair Market Value |
| Scientific Specimens | 2 | $4,700 | Fair Market Value |
| Intellectual Property | 1 | $1 | Fair Market Value |
| Total Noncash Contributions | 18 | $3,290,716 | - |
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $136,016,154 |
| Other Expenses | $92,914,385 |
| Grants and Similar Amounts Paid | $48,388,098 |
| Total Fundraising Expense | $3,424,092 |
| Professional Fundraising Fees | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $92,209,859 | $8,776,940 | $1,618,125 | $102,604,924 |
| Grants to Domestic Individuals | $48,388,098 | - | - | $48,388,098 |
| Other Employee Benefits | $16,995,985 | $2,125,971 | $228,536 | $19,350,492 |
| Depreciation Depletion | $13,367,187 | - | - | $13,367,187 |
| Office Expenses | $6,497,810 | $65,716 | $7,831 | $6,571,357 |
| Payroll Taxes | $5,472,063 | $616,883 | $138,249 | $6,227,195 |
| Occupancy | $5,533,037 | $40,790 | $1,904 | $5,575,731 |
| Other Expenses | $5,391,040 | $4,930,657 | $5,289 | $5,391,040 |
| Pension Plan Contributions | $4,696,406 | $529,441 | $118,653 | $5,344,500 |
| Advertising | $3,137,267 | $1,558,649 | $1,034 | $4,696,950 |
| Interest | $4,139,779 | $485,099 | - | $4,624,878 |
| Travel | $2,963,407 | $176,569 | $59,686 | $3,199,662 |
| Current Officers, Directors, Trustees, and Key Employees | $140,029 | $1,633,961 | $715,053 | $2,489,043 |
| Insurance | $281,967 | $1,701,576 | - | $1,983,543 |
| Information Technology | $860,148 | $860,148 | - | $1,720,296 |
| Conferences and Meetings | $1,118,976 | - | $101,435 | $1,220,411 |
| Fees for Service Investment Mgmnt Fees | - | $762,557 | - | $762,557 |
| Fees for Services Accounting | - | $156,286 | - | $156,286 |
| Fees for Services Legal | $65,400 | $65,400 | - | $130,800 |
| Fees for Services Other | - | $455 | - | $455 |
| Total Functional Expenses | $248,570,774 | $25,323,771 | $3,424,092 | $277,318,637 |
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $277,318,637 |
| Expenses per Audited Statements | $227,682,883 |
| Total Expenses per Audited Statements | $227,682,883 |
| Expenses Not Reported on Financial Statements | $49,635,754 |
| Other Expense Adjustments | $48,873,197 |
| Expenses Not Reported on Form 990 | $0 |
| Region | Activity | Services | Offices | Employees | Spending |
|---|---|---|---|---|---|
| Middle East and North Africa | Program Services | Education | 1 | 11 | $1,655,684 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Sally McCormack Tutt | Family member of Daniel McCormack. Board Member | Employment | No | $173,323 |
| Linda Brandsma | Family member of James Herbert, President | Employment | No | $40,854 |
| Liability | Amount |
|---|---|
| Lease Obligation | $11,884,715 |
| Refundable Student Loan Programs | $2,215,136 |
| Asset Retirement Obligation | $1,598,039 |
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| C | Maine Health and Higher Education Facilities Authority | 2021-12-15 | $51,941,676 | Refund 2011C & construct academic building |
| A | Maine Health and Higher Education Facilities Authority | 2017-03-02 | $50,013,821 | Administrative & academic buildings |
| B | Maine Health and Higher Education Facilities Authority | 2017-10-11 | $44,143,459 | Refund 2008C & 2009A |
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| C | $54,485,449 | - | $2,280,000 | $424,223 |
| A | $50,161,294 | $43,716,196 | $6,265,000 | $513,821 |
| B | $44,143,532 | $11,517,452 | $9,945,000 | $427,336 |
“Prior to filing, the 990 is reviewed by the Legal Affairs and Audit Committee of the Board and is made available to each member of the Board.”
“Trustees and board officers are required to submit a conflict of interest report on an annual basis. The reports are reviewed by the Chair of the Legal Affairs and Audit Committee, who in turn, communicates any conflicts to the board officers for determination and proper resolution of the conflict if needed. Should an issue arise in which a board member has a direct conflict resulting in potential personal benefit, the individual is required to recuse themselves from any and all board activities related to the conflict. In addition, all University employees must annually complete a training module regarding codes of conflict that includes requirements to avoid and/or declare known conflicts of interest related to the positions they hold.”
“The Compensation Committee, as empowered by the Board of Trustees, engages an outside consulting firm to review and ensure that the President's compensation is reasonable in comparison to compensation for presidents at like institutions. Minutes are kept for the Compensation Committee meetings. The Compensation Committee reports its conclusions and any contract revisions to the full board prior to executing a contract. The President of the University in consultation with the Department of Human Resources and engaged search firms sets salaries for key executives and periodically reviews independent salary data from similar institutions to ensure that salaries and wages are within the appropriate range.”
“Financial statements, conflict of interest policy, and governing documents are available upon request.”
“Section 1.263(a)-3(n) Election: University of New England 11 Hills Beach Road Biddeford, ME 04005 EIN 01-0211810 University of New England is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”
“There are no revenues or costs incurred related to the University's conservation easements.”
“The University houses the Maine Women Writer's Collection of literature. In addition, art galleries are located on the Biddeford and Portland campuses that exhibit paintings and other works of art. These collections and exhibits further the liberal arts curriculum and scholarly activities.”
“The University disburses endowment funds in accordance with donor wishes. Most of the donor restricted endowments are for student scholarships. If the endowment has no restrictions or if the endowment is board designated, the funds may be used at the discretion of the Board of Trustees.”
“The University is exempt from income taxes under Internal Revenue Code (Code) Section 501(c)(3) whereby only unrelated business income, as defined by Section 512(a)(1) of the Code, is subject to income tax. The University records income tax liabilities and assets using a threshold of more likely than not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. The University does not believe that there are any unrecognized tax benefits or costs that should be recorded in the financial statements. The University is subject to audits by taxing jurisdictions and provisions for audit adjustments, if any, are included in the financial statements when estimable.”
“Scholarships 48,388,098. Constructions Bond Interest 485,099.”
“Scholarships 48,388,098. Constructions Bond Interest 485,099.”
“Included in the contribution amount are transfers of internal funds of $77,500,000 and $120,000,000 for FY25 and FY24, respectively.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 7215829 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | The University of New England prepares students to thrive in a rapidly-changing world and, in so doing, to improve the health of people, communities, and our planet. |
| IRS990/AdvertisingGrp/FundraisingAmt | 0 | 1034 |
| IRS990/AdvertisingGrp/ManagementAndGeneralAmt | 0 | 1558649 |
| IRS990/AdvertisingGrp/ProgramServicesAmt | 0 | 3137267 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 4696950 |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Biddeford |
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| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 04005 |
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| IRS990/Desc | 0 | COLLEGE OF OSTEOPATHIC MEDICINE: The College of Osteopathic Medicine is dedicated to the improvement of life through the education of Osteopathic physicians, research and service. The nationally recognized College emphasizes health, healing and primary care for the people of New England and the nation. The College is the only medical school in Maine and the only osteopathic medical school in New England. The College is housed on the Portland campus, an historic site in suburban Portland, Maine. WESTBROOK COLLEGE OF HEALTH PROFESSIONS: The Westbrook College of Health Professions offers both undergraduate and graduate programs. Undergraduate programs include dental hygiene, nursing, applied exercise science, nutrition, public health, social work, pre-pharmacy and athletic training. Graduate programs include athletic training, nurse anesthesia, occupational therapy, pharmacy, physician assistant and physical therapy. The College offers three doctorates in physical therapy, nurse anesthesia and pharmacy. The Doctorate of pharmacy has its own school (School of Pharmacy). The College has state-of-the-art educational facilities and has pioneered the model of inter-professional education, which is housed on the Portland campus, in suburban Portland, Maine. COLLEGE OF PROFESSIONAL STUDIES - UNE ONLINE: The College partners with the University's other five colleges to provide programmatic, financial and logistical support to students enrolled in online programs, while ensuring excellence in professional and graduate education and consistency in maintaining the highest academic standards. GLOBAL EDUCATION: The Global Education program develops and promotes global education and research opportunities. Students can study abroad via partnerships in Spain, France and Iceland or on our campus in Morocco. In 2014, the University opened its campus in Tangier, Morocco. The program enables students to choose from courses in the sciences, humanities, social sciences, business and the arts including lab science courses. Students gain a global perspective without experiencing any delay in the curriculum required for their major. RESEARCH: The University receives grants from a number of prestigious national sources including the National Science Foundation, U.S. Department of Health and Human Services, National Institute of Health, National Oceanic and Atmospheric Administration, U.S. Department of Agriculture, U.S. Department of the Interior, U.S. Department of Commerce, U.S. Department of Energy and National Aeronautics and Space Administration. The University has several research centers, including the Centers for Excellence focusing in Aging and Health, Collaborative Education, Public Health, Neurosciences, Digital Health, Marine Sciences, Study Pain and Sensory Function, and North Atlantic Studies. |
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| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 130800 |
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| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 455 |
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| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 762557 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 17 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 18 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 19 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 20 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 21 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 22 | Board Member |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 23 | Board Member |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 27 | Dean Osteopathic Med/VP Hlth Affairs |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 28 | Sr. Assoc. Dean for Clinical Educ. |
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