Civic Intelligence

Adelphi University

990 • Fiscal year 2014 • EIN 11-1630741

Sep 01, 2013 to Aug 31, 2014 • Filed on Jun 25, 2015

1 South AvenueSuite LEV 201Garden City, NY 11530-0701

(516) 877-3184

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.38x

Higher debt load relative to assets than 54% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

64th percentile

0.74x

Higher debt load relative to revenue than 64% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Net Margin

39th percentile

3.9%

Higher net margin than 39% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

86th percentile

16%

Faster asset growth than 86% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

37th percentile

2.5%

Faster revenue growth than 37% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2012 to 2014

Assets

Up

$475,522,855

Up $67,218,228 (+16%) from 2013

Net Assets

Up

$292,747,257

Up $23,410,684 (+8.7%) from 2013

Liabilities

Up

$182,775,598

Up $43,807,544 (+32%) from 2013

Revenue

Up

$246,298,314

Up $8,816,632 (+3.7%) from 2013

Expenses

Up

$236,647,280

Up $7,985,588 (+3.5%) from 2013

Net Income

Up

$9,651,034

Up $831,044 (+9.4%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $340,870,411Liabilities 2010: $129,094,025Net Assets 2010: $211,776,3862010Assets 2011: $372,945,895Liabilities 2011: $140,689,950Net Assets 2011: $232,255,9452011Assets 2012: $391,861,683Liabilities 2012: $136,235,101Net Assets 2012: $255,626,5822012Assets 2013: $408,304,627Liabilities 2013: $138,968,054Net Assets 2013: $269,336,5732013Assets 2014: $475,522,855Liabilities 2014: $182,775,598Net Assets 2014: $292,747,2572014Assets 2015: $469,627,878Liabilities 2015: $185,690,265Net Assets 2015: $283,937,6132015Assets 2016: $473,281,451Liabilities 2016: $186,744,887Net Assets 2016: $286,536,5642016Assets 2017: $485,479,975Liabilities 2017: $183,244,629Net Assets 2017: $302,235,3462017Assets 2018: $503,943,909Liabilities 2018: $185,448,257Net Assets 2018: $318,495,6522018Assets 2019: $525,520,690Liabilities 2019: $198,252,023Net Assets 2019: $327,268,6672019Assets 2020: $548,362,844Liabilities 2020: $205,645,234Net Assets 2020: $342,717,6102020Assets 2021: $595,552,292Liabilities 2021: $214,453,877Net Assets 2021: $381,098,4152021Assets 2022: $560,098,244Liabilities 2022: $198,116,429Net Assets 2022: $361,981,8152022Assets 2023: $552,495,763Liabilities 2023: $192,087,901Net Assets 2023: $360,407,8622023Assets 2024: $567,269,629Liabilities 2024: $183,266,557Net Assets 2024: $384,003,0722024

Highlighted filing

2014

Assets$475,522,855
Liabilities$182,775,598
Net Assets$292,747,257

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$300M$200M$100M$0-$100MExpenses 2010: $196,229,2602010Expenses 2011: $204,342,1372011Revenue 2012: $234,238,035Expenses 2012: $217,211,416Net Income 2012: $17,026,6192012Revenue 2013: $237,481,682Expenses 2013: $228,661,692Net Income 2013: $8,819,9902013Revenue 2014: $246,298,314Expenses 2014: $236,647,280Net Income 2014: $9,651,0342014Revenue 2015: $252,367,795Expenses 2015: $244,317,034Net Income 2015: $8,050,7612015Revenue 2016: $250,310,582Expenses 2016: $251,502,249Net Income 2016: -$1,191,6672016Revenue 2017: $276,032,236Expenses 2017: $274,148,310Net Income 2017: $1,883,9262017Revenue 2018: $298,193,439Expenses 2018: $286,294,478Net Income 2018: $11,898,9612018Revenue 2019: $320,088,329Expenses 2019: $304,465,110Net Income 2019: $15,623,2192019Revenue 2020: $331,838,879Expenses 2020: $314,512,102Net Income 2020: $17,326,7772020Revenue 2021: $319,875,949Expenses 2021: $315,918,918Net Income 2021: $3,957,0312021Revenue 2022: $329,867,300Expenses 2022: $322,408,391Net Income 2022: $7,458,9092022Revenue 2023: $317,638,536Expenses 2023: $331,591,192Net Income 2023: -$13,952,6562023Revenue 2024: $344,343,959Expenses 2024: $349,419,839Net Income 2024: -$5,075,8802024

Highlighted filing

2014

Revenue$246,298,314
Expenses$236,647,280
Net Income$9,651,034
Jump To
Filing Snapshot
Filing Period
Sep 1, 2013 to Aug 31, 2014
Signed
Jun 25, 2015
Return Version
2013v4.0
Gross Receipts
$318,012,946
Mission and Program Overview

Mission

To provide quality undergraduate and graduate education and to offer preparation in arts, education, business, psychology, social work, nursing and other health sciences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$192,137,064$208,779,828▲ $16,642,764
Investments in Publicly Traded Securities$166,425,099$190,116,954▲ $23,691,855
Investments Other Securities$11,187,938$16,065,981▲ $4,878,043
Savings and Temporary Cash Investments$17,710,548$13,117,464▼ $4,593,084
Investments Program Related$6,046,005$6,444,097▲ $398,092
Pledges and Grants Receivable$5,245,084$6,115,638▲ $870,554
Prepaid Expenses and Deferred Charges$4,365,292$5,490,912▲ $1,125,620
Accounts Receivable$1,650,914$1,847,799▲ $196,885
Cash and Non-Interest-Bearing Accounts$1,500$1,500→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$408,304,627$475,522,855▲ $67,218,228
Other Assets Total$3,535,183$27,542,682▲ $24,007,499
Liabilities
Tax Exempt Bond Liabilities$86,209,107$128,146,827▲ $41,937,720
Deferred Revenue$30,580,497$29,086,693▼ $1,493,804
Accounts Payable and Accrued Expenses$16,787,907$19,875,916▲ $3,088,009
Grants Payable$5,390,543$5,666,162▲ $275,619
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$138,968,054$182,775,598▲ $43,807,544
Net Assets / Fund Balance
Unrestricted Net Assets$226,266,917$243,168,940▲ $16,902,023
Permanently Rstr Net Assets$25,019,436$27,822,851▲ $2,803,415
Temporarily Rstr Net Assets$18,050,220$21,755,466▲ $3,705,246
Total Net Assets Fund Balance$269,336,573$292,747,257▲ $23,410,684
Total Liabilities and Net Assets / Fund Balance$408,304,627$475,522,855▲ $67,218,228

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$174,293,570$92,526,812$266,820,382
Equipment$8,023,970$30,827,221$38,851,192
Other Land Buildings$23,894,046-$23,894,046
Land$2,158,865-$2,158,865
Leasehold Improvements$409,376$1,562,866$1,972,242
Other Assets Org$1,024,996--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$149,312,321$2,938,232▲ $23,582,843$474,004$174,477,346
2012$136,116,979$1,122,030▲ $13,247,927$420,239$149,312,321
2011$121,107,043$5,113,468▲ $10,751,785$307,995$136,116,979
2010$105,999,399$3,584,357▲ $12,202,854$223,369$121,107,043
2009$96,823,763$4,196,535▲ $5,604,280$312,971$105,999,399
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert a ScottPresidentFT$517,510$147,191$664,701
Timothy P BurtonSenior VP & TreasurerFT$306,738$74,727$381,465
Gayle D InslerProvost and Senior VPFT$296,775$49,333$346,108
Anthony LibertellaDean, School of BusinessFT$255,324$79,184$323,294
Patrick R CoonanDean, School of NursingFT$231,185$36,156$286,066
Christian VaupelVP for University AdvancementFT$237,740$59,148$285,940
Sam L GroggDean, Arts and SciencesFT$225,549$63,879$279,028
Andrew W SafyerDean, Social WorkFT$204,224$64,319$278,683
Rakesh GuptaProfessorFT$218,149$51,023$268,190
Lori a Duggan GoldVP for CommunicationsFT$201,725$64,920$250,819
Jacques BarberDean, Iaps Derner InstituteFT$185,436$51,290$247,126
Jack P ChenChief Information OfficerFT$176,522$48,729$242,751
Robert DecarloAssociate VP and Co-treasurerFT$200,489$54,743$237,732
Robert F BornsteinProfessorFT$149,804$42,850$232,993
Richard K GarnerDean, Honors CollegeFT$181,279$40,391$231,924
Jane AshdownDean, School of EducationFT$189,222$81,963$230,846
Lauren MountyVP for Enrollment ManagementFT$148,008$63,288$203,269
Angelo B ProtoFormer Officer-see Note Sch. JFT$174,935$29,535$196,381
Ronald S FeingoldFormer Dean,see Note Sch. JFT$132,443$15,499$163,909

Highest Paid Contractors

ContractorServicesLocationCompensation
Compass Lcsllcdba Lackmann CulinaFood Service-$5,581,635
The Ballinger CompanyArchitects-$2,782,483
Damon G Douglas CoContractor-$1,639,919
Challenge Graphics Services INCPrinting Services-$521,238
Intelli-tec Security ServicesContractor-$317,092
Revenue and Support

Revenue Composition

Contributions and Grants
$8,958,063
Program Service Revenue
$224,074,833
Investment Income
$12,142,278
Other Revenue
$1,123,140
All Other Contributions
$4,565,592
Change in Net Assets
$9,651,034

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table37$1,333,820Discounted Value
Securities Publicly Traded12$244,352Market Quotation
Total Noncash Contributions49$1,578,172-

Audited Revenue Reconciliation

Revenue per Audited Statements
$196,945,507
Revenue Not Reported on Financial Statements
$49,352,807
Revenue Not Reported on Form 990
$13,774,779
Other Revenue Adjustments
$48,927,371
Total Revenue per Audited Statements
$210,720,286
Total Revenue per Form 990
$246,298,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,416,536
Other Expenses$56,258,980
Grants and Similar Amounts Paid$48,784,825
Total Fundraising Expense$2,443,629
Professional Fundraising Fees$186,939

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$87,392,126$10,170,050$1,113,207$98,675,383
Grants to Domestic Individuals$48,577,125--$48,577,125
Other Employee Benefits$12,118,127$2,315,746$167,373$14,601,246
Office Expenses$8,885,047$1,584,245$285,668$10,754,960
Occupancy$9,287,660$437,536$9,436$9,734,632
Depreciation Depletion$7,093,942$552,504-$7,646,446
Payroll Taxes$6,334,999$930,760$93,016$7,358,775
Pension Plan Contributions$5,966,117$763,752$66,294$6,796,163
Interest$4,784,259$503,806-$5,288,065
Current Officers, Directors, Trustees, and Key Employees$1,667,415$1,821,927$286,170$3,775,512
Fees for Services Other$1,811,522$913,860$59,349$2,784,731
Advertising$649,245$1,897,654-$2,546,899
Travel$2,024,135$242,290$69,915$2,336,340
Other Expenses$1,272,583$656,057$28,797$1,957,437
Information Technology$1,460,609$446,658-$1,907,267
Insurance$1,374,443$73,642$2,220$1,450,305
Conferences and Meetings$1,000,375$340,507$72,920$1,413,802
Fees for Service Investment Mgmnt Fees-$505,825-$505,825
Fees for Services Legal$34,070$375,324$2,325$411,719
Fees for Services Accounting-$333,024-$333,024
Comp Disqual Persons$207,957$1,500-$209,457
Foreign Grants$207,700--$207,700
Fees for Services Professional Fundraising--$186,939$186,939
Fees for Services Lobbying-$82,338-$82,338
Total Functional Expenses$207,877,882$26,325,769$2,443,629$236,647,280

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$236,647,280
Total Expenses per Audited Statements$187,792,561
Expenses per Audited Statements$187,294,473
Expenses Not Reported on Financial Statements$49,352,807
Other Expense Adjustments$48,927,371
Expenses Not Reported on Form 990$498,088
International Activity

International Summary

Spending
$45,238,646

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)InvestmentsTravel and Recruiting--$22,913,000
East Asia and the PacificInvestmentsTravel and Recruiting--$12,224,000
South AsiaInvestmentsStudent Study Abroad--$2,618,000
South AmericaInvestmentsTravel and Recruiting--$2,589,000
North AmericaInvestmentsTravel and Recruiting--$2,066,000
Russia and the Newly Independent StatesInvestmentsTravel and Recruiting--$753,000
Sub-Saharan AfricaInvestments---$690,000
Central America and the CaribbeanInvestmentsTravel and Recruiting--$494,000
Middle East and North AfricaInvestmentsTravel and Recruiting--$346,000
Europe (Including Iceland and Greenland)Program Services---$230,830
Europe (Including Iceland and Greenland)Program Services---$176,461
South AsiaProgram Services---$36,124
East Asia and the PacificProgram Services---$33,032
Middle East and North AfricaProgram Services---$25,738
Central America and the CaribbeanProgram Services---$17,924
North AmericaProgram Services---$16,639
South AmericaProgram Services---$8,898
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$516,170
Fundraising Direct Expenses$246,276
Professional Fundraising Fees$186,939

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$433,476$349,326$23,476$325,850
Event 2$156,251$120,179$13,719$106,460
Total Events$651,522$516,170$246,276$269,894
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
Andrew Safyer Dean of Social WorkSpouseEmployment at the UniversityNo$96,586
Timothy Burtonsenior VptreasurerDaughterEmployment at the UniversityNo$54,260
See Notes Schedule L Part V----

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
D11-27989492013-11-14$46,003,624Construction-nexus and welcome ctr
A11-60019292005-10-27$42,436,465Construction-sports/arts centers
B11-27989492009-09-30$31,807,584Construct dormitory/adv refunding
C11-27989492011-06-15$25,318,662Construct dormitory/adv.refunding

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
D$46,081,964$0$0$767,266
A$44,176,495$395,456$0$428,000
B$31,814,560$6,553,658$0$492,134
C$25,318,662$14,729,707$0$406,940

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
Yes
Corrective action procedures
Yes
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 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
Filing and Contact Details

Filer

EIN
11-1630741
In Care Of
% ROBERT DECARLO
Phone
5168773184

Signing Officer

Name
Timothy P Burton
Title
Senior VP/treasurer
Signed
2015-06-25

Organization Details

Principal Officer
Robert a Scott
Formed
1896
Legal Domicile
Ny
Voting Board Members
29
Independent Board Members
28
Employees
4,666
Supplemental Narrative

Additional Explanations

Conflict of Interest Policy

The university has a conflict of interest policy. All trustees, officers and employees of the university must sign a conflict of interest statement annually. The chairman of the university's audit committee and the chairman of the trustee affairs committee, report to the university's governing board annually regarding any potential conflicts of interest. In addition, annually in preparation of the 99o, questionnaires are completed by all trustees, officers, and key employees regarding trustees' independence; relationships among trustees, officers, and key employees; and transactions involving a potential conflict of interest. Any potential transactions or relationships are reviewed and documented on the 990 and schedule l.

Process of Determining Compensation

An independent compensation consultant has been hired by the university to review the compensation of the university's officers. The consulting firm reviews compensation of the university's officers in comparison to those officers of other colleges and universities within our supported peer group of other universities. Their recommendations and report are presented to the university's board of trustees for approval. The date of the last report of the independent consultants was december 2012. The compensation of the university's key employees is reviewed annually. Comparisons are made to salaries reported by the college and university personnel association as well as the compensation reported in other university's form 990. Compensation of key employees is presented to the university's board of trustees annually for approval. Determinations of compensation by the board are contemporaneously documented in the minutes to those meetings.

Documents Available for Public Inspection

The university's governing documents, conflicts of interest policy, and financial statements are available upon request.

REVIEW OF 990 BY UNIVERSITY'S BOARD OF TRUSTEES

Form 990 and all schedules and form 990t are prepared annually by management, reviewed by an external auditing firm, reviewed by the board of trustees audit committee and provided to the full board of trustees prior to filing the forms with the irs.

Number of Employees Reported on Form W-3

The university reported 4,666 employees on form w-3, transmittal of wage and tax statement for 2013. This includes approximately 2,000 student employees and graduate assistants who worked at the university during 2013.

Reconciliation of Net Assets

"other changes in net assets or fund balances" included in the reconcilation of of net assets totaling $482,959 is an increase in net assets for postretirement changes other than net periodic benefit costs.

Financial Statement Notes

Collections of Art

The University maintains an inventory of works of art. The works of art are primarily comprised of paintings and sculptures and are displayed throughout the campus. Under the provisions of SFAS 116, the University is not required to and does not report these items in its financial statements.

Uncertain Tax Provisions Under "FIN 48" (ACS 740)

"The University follows ASC 740-10 which clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a return, including issues relating to financial statement recognition and measurement. This section provides that the tax effects from an uncertain tax position can be recognized in the financial statement only if the position is "more likely than not" to be sustained if the position were challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The University is exempt from federal income taxation by virtue of being an organization described in Section 501(c)(3) of the Internal Revenue Code. Nevertheless, the University may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The tax years ended August 31, 2011, 2012, 2013 and 2014 are still open to audit for both federal and state purposes. Management has determined that there are no material uncertain tax positions within its consolidated financial statements."

Reconciliation of Revenue & Expenses Per 990 to Financial Statements

Rent expense totaling $498,088 is included on the 990, part viii, line 6b. Rent expense is included with expenditures in the financial statements and is shown net with revenue on the 990.

Reconciliation of Revenue & Expenses per 990 to Financial Statements

Lines 4b in parts xi and xii on schedule d show $48,927,371 as "other". This amount represents professional fundraising fees (shown net on financial statements) totaling $142,546 and scholarships (shown net on financial statements) totaling $48,784,825.

Purpose of Endowment Funds

The university's endowment is an aggregation of gifts provided by donors with the requirement they be held in perpetuity to generate earnings now and in future years to support the university's programs of instruction, research and public service, and funds designated by the board of trustees to function as endowment. Earnings from endowment investments support scholarships, chairs, professorships, fellowships, basic research as well as academic and public service programs.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$567$183$384$344$349$5.08
2023Detailed filing. Detailed filing data is available for this year.$552$192$360$318$332$14.0
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$560$198$362$330$322$7.46
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$596$214$381$320$316$3.96
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$548$206$343$332$315$17.3
2019Detailed filing. Detailed filing data is available for this year.$526$198$327$320$304$15.6
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$504$185$318$298$286$11.9
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$485$183$302$276$274$1.88
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$473$187$287$250$252$1.19
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$470$186$284$252$244$8.05
2014Detailed filing. Detailed filing data is available for this year.$476$183$293$246$237$9.65
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$408$139$269$237$229$8.82
2012Summary only. Only limited summary data is available for this year.$392$136$256$234$217$17.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$373$141$232$204
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$341$129$212$196