Civic Intelligence

Felician University

990 • Fiscal year 2020 • EIN 22-1912028

Jul 01, 2019 to Jun 30, 2020 • Filed on May 13, 2021

262 South Main StreetLodi, NJ 07644

(201) 559-6000

Siviq Scores

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

Liabilities / Assets

71st percentile

0.42x

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

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.54x

Higher debt load relative to revenue than 57% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Net Margin

37th percentile

0.5%

Higher net margin than 37% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

65th percentile

$397,605

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Asset Growth

76th percentile

8.1%

Faster asset growth than 76% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

76th percentile

13%

Faster revenue growth than 76% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Up

$95,245,746

Up $7,107,755 (+8.1%) from 2019

Net Assets

Up

$54,838,869

Up $68,803 (+0.1%) from 2019

Liabilities

Up

$40,406,877

Up $7,038,952 (+21%) from 2019

Revenue

Up

$74,280,465

Up $8,663,496 (+13%) from 2019

Expenses

Up

$73,945,390

Up $7,911,423 (+12%) from 2019

Net Income

Up

$335,075

Up $752,073 (+180%) from 2019

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $54,706,876Liabilities 2010: $14,686,409Net Assets 2010: $40,020,4672010Assets 2011: $59,756,678Liabilities 2011: $13,684,144Net Assets 2011: $46,072,5342011Assets 2012: $61,784,272Liabilities 2012: $12,872,545Net Assets 2012: $48,911,7272012Assets 2013: $65,352,605Liabilities 2013: $15,382,336Net Assets 2013: $49,970,2692013Assets 2014: $67,735,699Liabilities 2014: $17,170,153Net Assets 2014: $50,565,5462014Assets 2015: $75,466,008Liabilities 2015: $21,949,660Net Assets 2015: $53,516,3482015Assets 2016: $87,089,890Liabilities 2016: $34,305,536Net Assets 2016: $52,784,3542016Assets 2017: $89,734,299Liabilities 2017: $35,306,204Net Assets 2017: $54,428,0952017Assets 2018: $90,264,861Liabilities 2018: $35,049,143Net Assets 2018: $55,215,7182018Assets 2019: $88,137,991Liabilities 2019: $33,367,925Net Assets 2019: $54,770,0662019Assets 2020: $95,245,746Liabilities 2020: $40,406,877Net Assets 2020: $54,838,8692020Assets 2021: $102,314,365Liabilities 2021: $42,924,080Net Assets 2021: $59,390,2852021Assets 2022: $100,210,159Liabilities 2022: $37,493,484Net Assets 2022: $62,716,6752022Assets 2023: $95,461,155Liabilities 2023: $35,323,246Net Assets 2023: $60,137,9092023Assets 2024: $92,151,909Liabilities 2024: $37,671,061Net Assets 2024: $54,480,8482024

Highlighted filing

2020

Assets$95,245,746
Liabilities$40,406,877
Net Assets$54,838,869

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $43,052,7122010Expenses 2011: $49,283,4672011Expenses 2012: $53,347,3122012Expenses 2013: $52,716,2932013Revenue 2014: $53,023,349Expenses 2014: $53,002,001Net Income 2014: $21,3482014Revenue 2015: $57,063,637Expenses 2015: $53,736,996Net Income 2015: $3,326,6412015Revenue 2016: $56,980,226Expenses 2016: $57,345,764Net Income 2016: -$365,5382016Revenue 2017: $61,585,063Expenses 2017: $60,413,174Net Income 2017: $1,171,8892017Revenue 2018: $62,979,736Expenses 2018: $62,280,311Net Income 2018: $699,4252018Revenue 2019: $65,616,969Expenses 2019: $66,033,967Net Income 2019: -$416,9982019Revenue 2020: $74,280,465Expenses 2020: $73,945,390Net Income 2020: $335,0752020Revenue 2021: $75,735,327Expenses 2021: $73,394,988Net Income 2021: $2,340,3392021Revenue 2022: $92,318,482Expenses 2022: $85,186,367Net Income 2022: $7,132,1152022Revenue 2023: $81,691,778Expenses 2023: $85,503,550Net Income 2023: -$3,811,7722023Revenue 2024: $80,306,644Expenses 2024: $87,253,022Net Income 2024: -$6,946,3782024

Highlighted filing

2020

Revenue$74,280,465
Expenses$73,945,390
Net Income$335,075
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 13, 2021
Return Version
2019v5.2
Gross Receipts
$86,689,281
Mission and Program Overview

Mission

Felician college is the catholic franciscan college of new jersey, sponsored by the felician sisters with the mission of educating a diverse student population within a liberal arts framework. The college provides learning experiences through multiple modalities, reinforced with strong student development programs to optimize student success.

Felician university is the catholic franciscan university of new jersey, sponsored by the congregation of the sisters of st. Felix of cantalice, our lady of hope province, (the "congregation") with the mission of educating a diverse student population within a liberal arts framework. The university provides learning experiences through multiple modalities, reinforced with strong student development programs to optimize student success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$59,494,477$59,864,940▲ $370,463
Investments in Publicly Traded Securities$14,046,357$14,747,183▲ $700,826
Cash and Non-Interest-Bearing Accounts$1,585,972$6,604,536▲ $5,018,564
Other Notes and Loans Receivable, Net$6,136,234$4,449,503▼ $1,686,731
Accounts Receivable$3,189,814$4,003,692▲ $813,878
Savings and Temporary Cash Investments$1,455,766$2,725,176▲ $1,269,410
Pledges and Grants Receivable$1,112,673$1,497,873▲ $385,200
Prepaid Expenses and Deferred Charges$875,566$1,127,801▲ $252,235
Inventories for Sale or Use$15,261$9,425▼ $5,836
Total Assets$88,137,991$95,245,746▲ $7,107,755
Other Assets Total$225,871$215,617▼ $10,254
Liabilities
Mortgage Notes Payable Secured by Investment Property$28,412,208$31,824,991▲ $3,412,783
Accounts Payable and Accrued Expenses$2,337,921$6,285,323▲ $3,947,402
Deferred Revenue$1,792,210$1,474,358▼ $317,852
Tax Exempt Bond Liabilities$653,812$603,308▼ $50,504
Other Liabilities$171,774$218,897▲ $47,123
Total Liabilities$33,367,925$40,406,877▲ $7,038,952
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$42,764,350$42,342,046▼ $422,304
Net Assets With Donor Restrictions$12,005,716$12,496,823▲ $491,107
Total Net Assets Fund Balance$54,770,066$54,838,869▲ $68,803
Total Liabilities and Net Assets / Fund Balance$88,137,991$95,245,746▲ $7,107,755

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$43,496,897$26,343,771$69,840,668
Equipment$6,960,754$12,292,265$19,253,019
Other Land Buildings$8,045,344$4,601,682$12,647,026
Land$1,361,945-$1,361,945

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$14,102,821$224,437▲ $1,088,575$597,685$14,818,148
2018$13,706,268$2,583▲ $984,077$590,107$14,102,821
2017$12,698,538$435,184▲ $1,142,613$570,067$13,706,268
2016$11,354,834$320,609▲ $1,521,377$498,282$12,698,538
2015$11,387,960$286,033▼ $65,895$253,265$11,354,834
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Anne PriscoOutgoing PresidentFT$340,515$57,090$397,605
Francine AndreaVice President, AdministrationFT$184,622$26,708$211,330
Thomas TruchanCFO & VP of FinanceFT$174,281$28,850$203,131
David TuriAssociate Dean, SobFT$174,365$13,546$187,911
Stephanie McgowanDean, SoeFT$151,363$29,894$181,257
Christine MihalDean of School of NursingFT$147,523$25,740$173,263
John Charles BurkeExecutive Director of IcadreFT$141,414$30,595$172,009
Sylvia McgearyActing PresidentFT$128,636$13,826$142,462

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Dining ServicesDining Sevices2 INTERNATIONAL DR, Rye Brook, NY 10573$2,003,360
C&w Facility Services INCFacility Services140 KENDRICK STREET BUILDING C WEST, Needham, MA 02494$852,043
Del-sano Contracting CorpContractor Services40 STATE ROUTE 36, West Long Branch, NJ 07764$629,217
Assessment Technologies InstituteEducational Services11161 VOERBROOK RD, Leawood, KS 66211$465,719
Asset Protection Group LLCFinancial ServicesPO BOX 2152, Ellijay, GA 30540$334,549
Revenue and Support

Revenue Composition

Contributions and Grants
$1,800,451
Program Service Revenue
$70,491,804
Investment Income
$1,354,847
Other Revenue
$633,363
All Other Contributions
$685,621
Change in Net Assets
$335,075

Audited Revenue Reconciliation

Revenue per Audited Statements
$74,295,374
Revenue Not Reported on Financial Statements
$-14,909
Revenue Not Reported on Form 990
$-26,975,213
Other Revenue Adjustments
$-14,909
Total Revenue per Audited Statements
$47,320,161
Total Revenue per Form 990
$74,280,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$27,122,086
Grants and Similar Amounts Paid$26,708,941
Other Expenses$20,023,677
Total Fundraising Expense$1,384,327
Professional Fundraising Fees$90,686

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$26,708,941--$26,708,941
Other Salaries and Wages$17,812,657$2,969,068$502,939$21,284,664
Occupancy$3,775,751$435,496$144,992$4,356,239
Office Expenses$3,326,216$465,371$77,445$3,869,032
Depreciation Depletion$3,071,179$529,929$120,438$3,721,546
Other Employee Benefits$2,353,348$406,068$92,288$2,851,704
Payroll Taxes$1,437,486$248,037$56,372$1,741,895
Information Technology$802,338$132,702$37,063$972,103
Current Officers, Directors, Trustees, and Key Employees$598,287$99,915$17,251$715,453
Advertising$614,485$10,105$11,516$636,106
Interest$450,261$79,246$18,010$547,517
Pension Plan Contributions$436,034$75,237$17,099$528,370
Fees for Services Other$243,942$249,160$2,596$495,698
Fees for Services Management$174,710$178,724$133,766$487,200
Travel$437,885$21,524$172$459,581
Insurance$374,865$64,683$14,701$454,249
Other Expenses$322,970$137,351$8,163$322,970
Fees for Services Legal$168,024$22,274$2,160$192,458
Fees for Services Accounting-$110,270-$110,270
Fees for Service Investment Mgmnt Fees-$107,735-$107,735
Conferences and Meetings$70,779$19,013$989$90,781
Fees for Services Professional Fundraising--$90,686$90,686
Payments to Affiliates$88,432--$88,432
Total Functional Expenses$66,001,374$6,559,689$1,384,327$73,945,390

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$73,945,390
Total Expenses per Audited Statements$47,251,358
Expenses per Audited Statements$47,236,449
Expenses Not Reported on Financial Statements$26,708,941
Other Expense Adjustments$26,708,941
Expenses Not Reported on Form 990$14,909
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$90,686
Fundraising Gross Income$20,368
Fundraising Direct Expenses$14,909

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Beefsteak Dinner$30,761$18,291-$18,291
Hall of Fame$13,817$2,077$5,028$-2,951
Total Events$44,578$20,368$14,909$5,459
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Provident Bank Bus Loan$91,490
State Aid Payable$64,907
Credit Line Provident Bank$50,000
Security Deposits$12,500

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Jersey Educational Facilities Authority2014-05-01$1,000,000Capital improvement bonds
BNew Jersey Educational Facilities Authority2016-12-01$250,000Capital improvement bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$465,517$465,517$85,348-
B$250,000$250,000$26,861-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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 35% controlled entity
No
Business relationship with family members
No
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

In june of 2020, as a result of the corona virus pandemic, the board delegate to the special 2020 summer/fall committee of the board (the "special committee") complete power and authority to act on behalf of the full board during the period june 24, 2020, and october 12, 2020 (the "2020 summer/fall period") for purposes of making quick decisions relating to the operations and administration of felician without sufficient time to convene a meeting of the full board relating to such decisions.

Form 990, Part VI, Section A, Line 6

The university has a sole member, felician services, inc.

Form 990, Part VI, Section A, Line 7A

The university's board of trustees is comprised of 21 trustees of which 4 are representatives of the congregation of the sisters of st. Felix of cantalice, our lady of hope province, (the "congregation"). The corporation's sole member holds a set of reserved powers that are found in the board's bylaws.

Form 990, Part VI, Section A, Line 7B

The university's board of trustees is comprised of 21 trustees of which 4 are representatives of the congregation of the sisters of st. Felix of cantalice, our lady of hope province, (the "congregation"). The corporation's sole member holds a set of reserved powers that are found in the board's bylaws.

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

The university provides a completed form 990 to all trustees with a sufficient amount of time to review prior to submission to the irs.

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

Each trustee annually signs a statement which affirms that such person has received a copy of the conflict of interest policy, read and understands the policy and has agreed to comply with the policy.

Form 990, Part VI, Section B, Line 15

The president determines the salary for all the officers and top management subject to confirmation by the compensation committee that the salaries are reasonable taking into account salaries at peer institutions and data provided by a compensation consultant for each employment position.

Form 990, Part VI, Section C, Line 19

The university maintains a procedure where any person requesting information on the university's governing documents, conflict of interest policy, or financial statements will be referred to the office of the vice president for administration, enrollment and planning. The vice president for administration, enrollment and planning will document the request and within a reasonable amount of time, make copies available to the requestor if appropriate.

Filing and Contact Details

Filer

Filer Name
Felician University
EIN
22-1912028
Phone
2015596000
Address
262 SOUTH MAIN STREET, LODI, NJ 07644

Signing Officer

Name
Tom Truchan
Title
VP of Finance
Phone
2015596094
Signed
2021-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Anne Prisco
Formed
1942
Legal Domicile
Nj
Voting Board Members
21
Independent Board Members
20
Employees
818
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Lori Rothe Yokobosky CPA
Phone
9732283500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has a committee of the board responsible for the oversight of the audit as well as selection of the independent accountant.

Financial Statement Notes

PART V, LINE 4:

Endowments are used to futher the organization's exempt purpose.

PART X, LINE 2:

The university has no unrecognized tax benefits at june 30, 2020 and 2019. The university's federal and state tax filings prior to fiscal year 2017 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. The university recognizes interest and penalties associated with tax matters as operating expenses and includes accrued interest and penalties with accrued expenses in the statements of financial position. There were no interest and penalties paid for the years ended june 30, 2020 and 2019.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Scholarship expense -26,708,941.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Direct fundraising expenses -14,909.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising expenses 14,909.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarship expense 26,708,941.

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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/Desc0FELICIAN CONTINUES TO ENROLL STUDENTS THROUGHOUT THE TRI-STATE REGION AND WITH THE GROWTH OF ON-LINE EDUCATIONAL PROGRAMS ACROSS THE NATION AND THE WORLD. ACADEMIC PROGRAM DIVERSITY IN AREAS SUCH AS NURSING, EDUCATION, CYBERSECURITY, AND THE 5 YEAR MBA PROGRAM AS WELL AS THE ADDITION OF DOCTORAL PROGRAMS ARE ATTRACTING AN INCREASINGLY DIVERSIFIED STUDENT POPULATION. THE UNIVERSITY ENROLLED 5,125 STUDENTS IN THE 2019-20 ACADEMIC YEAR. REFURBISHED RESIDENCE HALLS, STATE OF THE ART SCIENCE LABORATORIES AND THE MODIFICATIONS TO THE STUDENT CENTER ON THE RUTHERFORD CAMPUS HAVE EXPANDED STUDENT LIFE ACTIVITIES WHICH HAVE RESULTED IN A STRONG INCREASE IN CAMPUS COMMUNITY AND RETENTION.
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IRS990/Form990PartVIISectionAGrp/PersonNm2CHARLENE BROWN
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IRS990/Form990PartVIISectionAGrp/PersonNm25FRANCINE ANDREA
IRS990/Form990PartVIISectionAGrp/PersonNm26JOHN CHARLES BURKE
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6OUTGOING PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20ACTING PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22CFO & VP OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt23DEAN OF SCHOOL OF NURSING
IRS990/Form990PartVIISectionAGrp/TitleTxt24ASSOCIATE DEAN, SOB
IRS990/Form990PartVIISectionAGrp/TitleTxt25VICE PRESIDENT, ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR OF ICADRE
IRS990/Form990PartVIISectionAGrp/TitleTxt27DEAN, SOE
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$92.2$37.7$54.5$80.3$87.3$6.95
2023Detailed filing. Detailed filing data is available for this year.$95.5$35.3$60.1$81.7$85.5$3.81
2022Detailed filing. Detailed filing data is available for this year.$100$37.5$62.7$92.3$85.2$7.13
2021Detailed filing. Detailed filing data is available for this year.$102$42.9$59.4$75.7$73.4$2.34
2020Detailed filing. Detailed filing data is available for this year.$95.2$40.4$54.8$74.3$73.9$0.34
2019Detailed filing. Detailed filing data is available for this year.$88.1$33.4$54.8$65.6$66.0$0.42
2018Detailed filing. Detailed filing data is available for this year.$90.3$35.0$55.2$63.0$62.3$0.70
2017Detailed filing. Detailed filing data is available for this year.$89.7$35.3$54.4$61.6$60.4$1.17
2016Summary only. Only limited summary data is available for this year.$87.1$34.3$52.8$57.0$57.3$0.37
2015Detailed filing. Detailed filing data is available for this year.$75.5$21.9$53.5$57.1$53.7$3.33
2014Detailed filing. Detailed filing data is available for this year.$67.7$17.2$50.6$53.0$53.0$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.4$15.4$50.0$52.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.8$12.9$48.9$53.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.8$13.7$46.1$49.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.7$14.7$40.0$43.1