Civic Intelligence

Goodwin College Inc

EIN 06-1627882 • 501(c)3 • East Hartford, CT

Profile

To educate a culturally diverse student population in an environment that builds bridges between education, commerce, and community.

One Riverside DriveEast Hartford, CT 06118

www.goodwin.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.19x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.87x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

18th percentile

-6.0%

Higher net margin than 18% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

48th percentile

$799,502

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

19th percentile

-1.0%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

25th percentile

1.6%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Down

$308,457,864

Down $3,272,654 (-1.0%) from 2023

Liabilities

Up

$57,922,693

Up $83,200 (+0.1%) from 2023

Net Assets

Down

$250,535,171

Down $3,355,854 (-1.3%) from 2023

Revenue

Up

$66,598,646

Up $1,032,798 (+1.6%) from 2023

Expenses

Down

$70,581,547

Down $3,081,966 (-4.2%) from 2023

Net Income

Up

-$3,982,901

Up $4,114,764 (+51%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2010: $82,479,610Liabilities 2010: $46,805,382Net Assets 2010: $35,674,2282010Assets 2011: $113,603,379Liabilities 2011: $54,357,099Net Assets 2011: $59,246,2802011Assets 2012: $127,064,044Liabilities 2012: $49,733,150Net Assets 2012: $77,330,8942012Assets 2013: $193,499,768Liabilities 2013: $58,891,388Net Assets 2013: $134,608,3802013Assets 2014: $221,840,852Liabilities 2014: $47,541,098Net Assets 2014: $174,299,7542014Assets 2015: $228,570,757Liabilities 2015: $50,408,646Net Assets 2015: $178,162,1112015Assets 2016: $236,210,647Liabilities 2016: $48,442,975Net Assets 2016: $187,767,6722016Assets 2017: $236,837,035Liabilities 2017: $43,464,089Net Assets 2017: $193,372,9462017Assets 2018: $249,376,415Liabilities 2018: $40,130,206Net Assets 2018: $209,246,2092018Assets 2019: $247,327,812Liabilities 2019: $35,262,132Net Assets 2019: $212,065,6802019Assets 2020: $260,541,446Liabilities 2020: $43,139,993Net Assets 2020: $217,401,4532020Assets 2021: $319,810,190Liabilities 2021: $59,517,470Net Assets 2021: $260,292,7202021Assets 2022: $313,398,918Liabilities 2022: $55,500,982Net Assets 2022: $257,897,9362022Assets 2023: $311,730,518Liabilities 2023: $57,839,493Net Assets 2023: $253,891,0252023Assets 2024: $308,457,864Liabilities 2024: $57,922,693Net Assets 2024: $250,535,1712024

Highlighted filing

2024

Assets$308,457,864
Liabilities$57,922,693
Net Assets$250,535,171

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $29,178,6152010Expenses 2011: $42,064,9932011Revenue 2012: $58,600,178Expenses 2012: $40,515,413Net Income 2012: $18,084,7652012Revenue 2013: $115,586,170Expenses 2013: $57,778,796Net Income 2013: $57,807,3742013Revenue 2014: $106,410,526Expenses 2014: $66,352,487Net Income 2014: $40,058,0392014Revenue 2015: $79,830,178Expenses 2015: $72,068,567Net Income 2015: $7,761,6112015Revenue 2016: $82,689,707Expenses 2016: $71,994,339Net Income 2016: $10,695,3682016Revenue 2017: $70,367,173Expenses 2017: $60,008,452Net Income 2017: $10,358,7212017Revenue 2018: $76,661,352Expenses 2018: $59,788,404Net Income 2018: $16,872,9482018Revenue 2019: $72,683,426Expenses 2019: $67,756,436Net Income 2019: $4,926,9902019Revenue 2020: $71,182,835Expenses 2020: $64,915,703Net Income 2020: $6,267,1322020Revenue 2021: $112,652,592Expenses 2021: $69,608,977Net Income 2021: $43,043,6152021Revenue 2022: $70,467,134Expenses 2022: $73,018,812Net Income 2022: -$2,551,6782022Revenue 2023: $65,565,848Expenses 2023: $73,663,513Net Income 2023: -$8,097,6652023Revenue 2024: $66,598,646Expenses 2024: $70,581,547Net Income 2024: -$3,982,9012024

Highlighted filing

2024

Revenue$66,598,646
Expenses$70,581,547
Net Income-$3,982,901

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$308$57.9$251$66.6$70.6$3.98
2023Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$312$57.8$254$65.6$73.7$8.10
2022Detailed filing. Detailed filing data is available for this year.$313$55.5$258$70.5$73.0$2.55
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$320$59.5$260$113$69.6$43.0
2020Summary only. Only limited summary data is available for this year.$261$43.1$217$71.2$64.9$6.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$247$35.3$212$72.7$67.8$4.93
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$249$40.1$209$76.7$59.8$16.9
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$237$43.5$193$70.4$60.0$10.4
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$236$48.4$188$82.7$72.0$10.7
2015Detailed filing. Detailed filing data is available for this year.$229$50.4$178$79.8$72.1$7.76
2014Detailed filing. Detailed filing data is available for this year.$222$47.5$174$106$66.4$40.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$193$58.9$135$116$57.8$57.8
2012Summary only. Only limited summary data is available for this year.$127$49.7$77.3$58.6$40.5$18.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$114$54.4$59.2$42.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.5$46.8$35.7$29.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$70,955,350
Mission and Program Overview

Mission

To educate a culturally diverse student population in an environment that builds bridges between education, commerce, and community.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$269,954,626$267,567,295▼ $2,387,331
Savings and Temporary Cash Investments$14,990,735$14,068,278▼ $922,457
Cash and Non-Interest-Bearing Accounts$5,721,722$6,660,020▲ $938,298
Accounts Receivable$2,835,141$5,368,731▲ $2,533,590
Pledges and Grants Receivable$8,649,229$4,171,069▼ $4,478,160
Prepaid Expenses and Deferred Charges$1,945,765$764,849▼ $1,180,916
Total Assets$311,730,518$308,457,864▼ $3,272,654
Other Assets Total$7,633,300$9,857,622▲ $2,224,322
Liabilities
Mortgage Notes Payable Secured by Investment Property$37,012,414$35,163,371▼ $1,849,043
Accounts Payable and Accrued Expenses$11,006,471$10,830,300▼ $176,171
Deferred Revenue$6,026,566$8,179,945▲ $2,153,379
Other Liabilities$3,794,042$3,749,077▼ $44,965
Total Liabilities$57,839,493$57,922,693▲ $83,200
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$253,794,025$250,268,411▼ $3,525,614
Net Assets With Donor Restrictions$97,000$266,760▲ $169,760
Total Net Assets Fund Balance$253,891,025$250,535,171▼ $3,355,854
Total Liabilities and Net Assets / Fund Balance$311,730,518$308,457,864▼ $3,272,654

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$209,915,202$74,299,392$284,214,594
Land$46,576,908-$46,576,908
Equipment$2,896,841$14,022,172$16,919,013
Other Land Buildings$8,178,344$834,807$9,013,151

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$19,648,551$1,114,991▲ $1,913,837$629,074$22,048,305
2022$12,411,323$7,144,352▲ $1,008,188$915,312$19,648,551
2021$13,821,348$1,001,622▼ $1,778,771$632,876$12,411,323
2020$11,565,746$536,393▲ $2,409,943$690,734$13,821,348
2019$11,269,076$741,878▲ $234,504$679,712$11,565,746
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark ScheinbergPresidentFT$634,863$164,639$799,502
Edwin Meyer JrCFOFT$254,342$68,818$323,160
Todd AndrewsVP of Economic and StrategyFT$275,818$27,525$303,343
Daniel NoonanVP Enrollment ServicesFT$260,824$36,883$297,707
Bryant HarrellVP of Facilities & ItFT$224,068$25,884$249,952
Jean Mcgill-whiteVP Human ResourcesFT$182,277$60,748$243,025
Michael PardalesProvost & Dean of FacultyFT$199,984$20,803$220,787
Melissa QuinlanVP of Inst EffectivenessFT$156,195$29,402$185,597

Board Members and Trustees

NameTitle
Maria EllisOutgoing Chair
Se-min SohnVice Chair
Alvin ThompsonDirector
Anthony DifattaDirector
Edward CasaresDirector
Ethan FoxmanDirector
Frank AmodioDirector
Gregory ButlerDirector
Jackie JacobyDirector
Jeffrey HoffmanDirector
John WaltersDirector
Judith ResnickDirector
Julio MaturanaDirector
Larry GoldbergDirector
Lee HousleyDirector
MARTIN D'ERAMODirector
Mary Ann HanleyDirector
Megan MehrDirector
Merilee DejohnDirector
Michele BushDirector
Molly LoudenDirector
Richard ShechtmanDirector
Ron AngeloDirector
Wilfredo NievesDirector
Phil FoxOutgoing Director
Adam JeamelOutgoing Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
O R & L Construction CorpConstruction Services2 SUMMIT PLACE, Branford, CT 06405$3,937,047
Ellucian Company LPIt/ Software Solutions62578 COLLECTIONS CENTER DR, Chicago, IL 60693$1,577,333
Ssc INCSecurity ServicesPO BOX 135, Brattleboro, VT 05302-0135$1,078,277
Science Interactive Group LLCInstructional Supplies86475 GENE LASSERRE BLVD, Yulee, FL 32097$769,846
Google INCMarketing/communicationsPO BOX 39000 DEPT 33654, San Francisco, CA 94139$695,993
Revenue and Support

Revenue Composition

Contributions and Grants
$8,872,436
Program Service Revenue
$55,799,796
Investment Income
$-58,316
Other Revenue
$1,984,730
All Other Contributions
$1,379,307
Change in Net Assets
$-3,982,901
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$32,289,607
Other Expenses$28,190,950
Grants and Similar Amounts Paid$10,100,990
Total Fundraising Expense$467,627
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$18,104,046$6,553,890$430,334$25,088,270
Grants to Domestic Individuals$10,100,990--$10,100,990
Depreciation Depletion$7,274,502$2,424,834-$9,699,336
Advertising$263,858$3,363,739-$3,627,597
Other Employee Benefits$325,171$2,086,329-$2,411,500
All Other Expenses$1,197,171$1,193,987$3,624$2,394,782
Payroll Taxes$1,381,022$730,231$31,472$2,142,725
Fees for Services Other$291,460$1,121,164-$1,412,624
Current Officers, Directors, Trustees, and Key Employees$102,029$1,267,533-$1,369,562
Other Expenses$1,057,039$138,204-$1,195,243
Pension Plan Contributions$157,428$1,033,298-$1,190,726
Occupancy$710,434$255,767-$966,201
Insurance-$736,595-$736,595
Interest$424,659$141,553-$566,212
Office Expenses$96,392$314,002$970$411,364
Travel$221,262$142,761$1,227$365,250
Fees for Services Accounting-$179,471-$179,471
Fees for Services Legal-$157,325-$157,325
Comp Disqual Persons-$86,824-$86,824
Fees for Services Lobbying-$42,000-$42,000
Total Functional Expenses$45,503,557$24,610,363$467,627$70,581,547
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Bryant Harrell JrSon of Key EmployeeCompensationNo$86,824
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$3,749,077
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Mark scheinberg and edwin meyer share a family relationship.

Form 990, Part VI, Section B, Line 11B

The form 990 is presented to the board of directors for review and approval. The appropriate officer of the university is then informed of the approval for filing and the return is submitted to the internal revenue service.

Form 990, Part VI, Section B, Line 12C

A compliance review is conducted annually on the conflict of interest policy. The board of directors reviews all policies annually with the assistance of staff and the board liaison.

Form 990, Part VI, Section B, Line 15

The review of top management and key employees salaries are reviewed by an independent compensation committee who compares their salaries to top management and key employee's salaries of other colleges. The board approves the salaries once the compensation committee reviews them.

Form 990, Part VI, Section C, Line 19

The form 990, financial statements and governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Goodwin University Inc
EIN
06-1627882
Phone
8607276906
Address
ONE RIVERSIDE DRIVE, EAST HARTFORD, CT 06118

Signing Officer

Name
Edwin Meyer Jr
Title
CFO
Phone
8607276906
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Scheinberg
Formed
2001
Legal Domicile
Ct
Voting Board Members
26
Independent Board Members
26
Employees
731
Volunteers
26

Preparer

Firm
Cohnreznick Advisory LLC
Address
350 CHURCH STREET 12TH FLOOR, HARTFORD, CT 06103
Preparer
Laura Kielczewski
Phone
9592007000
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

Goodwin university seeks to address gaps in higher education opportunity in the state of connecticut by crafting programs and services to enable low-income and minority students to earn college degrees at a higher rate than is generally achieved at publicly-funded institutions but at a lower financial cost than other private colleges. Over half of goodwin's graduates were the first in their families to attend and complete college. Goodwin university's academic programs, which include four master's degree programs, nine baccalaureate programs and a range of associate degrees and certificates, all tied to workforce needs, helping to ensure the employability of graduates. Many of goodwin university's students thrive in a supportive academic environment, but require individualized support services to overcome obstacles to educational completion. To serve this population, goodwin provides one-on-one advising, case-management, and counseling services, as well as tutoring and peer-mentoring. One such program, the goodwin achievement program (gap), offers foundational classes at no charge to students whose reading and math skills fall below college-level proficiency. The university also supports initiatives targeted at closing the educational achievement gap, including the men of vision in education (move) and women invested in seeking education (wise), which provide financial aid, case management, and mentorship for young men and women from minority backgrounds, and summer bridge, a college readiness program for urban high school graduates. Goodwin university promotes teaching excellence among its faculty by promoting professional development and assessment. Goodwin faculty are supported in their individual research endeavors, where an emphasis is placed on those activities which best translate to student success inside and outside the classroom. To help promote a culture of teaching excellence, goodwin provides a grant program to inspire innovation and improvement in program development.

FORM 990, PART XI, LINE 9:

Loss from subsidiaries 627,047.

Financial Statement Notes

PART III, LINE 4:

The university's collections are displayed throughout the campus for the cultural enrichment of the student population.

PART V, LINE 4:

Endowment earnings residing in goodwin foundation, inc. Are primarily to be used to award scholarships to full and part-time students of goodwin university, inc.

PART X, LINE 2:

Management has analyzed the tax positions taken by the organization and has concluded that, as of june 30, 2024 and 2023, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. The organization's federal and state tax filings prior to fiscal year 2021 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. If the organization had unrelated business income taxes, it would recognize interest and penalties associated with any tax matters as part of the income tax provision and include accrued interest and penalties with the related tax liability in the consolidated statements of financial position.

Raw XML AppendixShowing 400 of 1,111 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Desc0GOODWIN UNIVERSITY IS AUTHORIZED TO CONFER MASTERS DEGREES, BACCALAUREATE DEGREES, ASSOCIATE DEGREES AND ONE AND TWO-YEAR CERTIFICATE PROGRAMS. TO THIS END, GOODWIN UNIVERSITY CREATES AN EDUCATIONAL ENVIRONMENT THAT BLENDS PROFESSIONAL PREPARATION WITH DEVELOPMENT OF CRITICAL THINKING SKILLS AND AN APPRECIATION OF THE HUMANITIES, ARTS AND SCIENCES; EDUCATES STUDENTS IN AN ENVIRONMENT THAT CELEBRATES DIVERSE CULTURES, AGES, EXPERIENCES AND OPINIONS; ENRICHES OUR LOCAL AND GLOBAL COMMUNITIES BY FORMING COLLABORATIVE RELATIONSHIPS THAT CREATE EDUCATIONAL, ECONOMIC AND CULTURAL BENEFITS; AND ASSISTS OUR GRADUATES WITH IDENTIFYING AND SECURING CAREER AND GROWTH OPPORTUNITIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16OUTGOING TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt27CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt28VP OF FACILITIES & IT
IRS990/Form990PartVIISectionAGrp/TitleTxt29VP OF ECONOMIC AND STRATEGY
IRS990/Form990PartVIISectionAGrp/TitleTxt30VP HUMAN RESOURCES
IRS990/Form990PartVIISectionAGrp/TitleTxt31VP OF INST EFFECTIVENESS
IRS990/Form990PartVIISectionAGrp/TitleTxt32PROVOST & DEAN OF FACULTY
IRS990/Form990PartVIISectionAGrp/TitleTxt33VP ENROLLMENT SERVICES
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IRS990/FormationYr02001

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