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Nonprofiteer
← CARLOW UNIVERSITY

Form 990 for tax year 2023

Filed by CARLOW UNIVERSITY.

Totals

Total revenue
$76,145,615
Total expenses
$81,752,309
Contributions and grants received
$9,216,193
Grants paid
$17,049,257
Program service revenue
$64,545,401
Investment income
$2,319,968
Other revenue
$64,053
Total assets, end of year
$121,909,309
Total liabilities, end of year
$45,571,057
Net assets or fund balances, end of year
$76,338,252
Program services expenses (Part IX)
$69,361,346
Management and general expenses
$11,005,288
Fundraising expenses
$1,385,675
Program service expenses (Part III)
$69,361,346

Program services were 84.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,690,053

  • 1f · All other contributions, gifts and grants

    $5,526,140

  • 2a · Program service revenue: TUITION AND FEES

    total $54,690,346 · related or exempt $54,690,346

  • 2b · Program service revenue: RESIDENCE HALLS & BOARD

    total $4,876,046 · related or exempt $4,876,046

  • 2c · Program service revenue: CARLOW CAMPUS SCHOOL

    total $2,887,999 · related or exempt $2,887,999

  • 2d · Program service revenue: ST. VINCENT NURSING PROGRAM

    total $856,458 · related or exempt $856,458

  • 2e · Program service revenue: EARLY LEARNING CENTER

    total $439,481 · related or exempt $439,481

  • 2f · All other program service revenue

    total $795,071 · related or exempt $795,071

  • 3 · Investment income

    total $2,323,395 · excluded $2,323,395

  • 6a · Gross rents

    real property $66,943

  • 6b · Less rental expenses

    real property $2,890

  • 6c · Rental income or loss

    real property $64,053

  • 6d · Net rental income or loss

    total $64,053 · excluded $64,053

  • 7a · Gross sales of assets other than inventory

    securities $6,811,141

  • 7b · Less cost or other basis and sales expenses

    securities $6,814,568

  • 7c · Gain or loss

    securities -$3,427

  • 7d · Net gain or loss

    total -$3,427 · excluded -$3,427

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $17,049,257 · program services $17,049,257

  • 5 · Compensation of officers, directors and key employees

    total $1,486,388 · program services $1,247,280 · management and general $195,159 · fundraising $43,949

  • 7 · Other salaries and wages

    total $26,706,033 · program services $22,433,068 · management and general $3,471,784 · fundraising $801,181

  • 8 · Pension plan contributions

    total $1,025,464 · program services $861,390 · management and general $133,310 · fundraising $30,764

  • 9 · Other employee benefits

    total $4,055,204 · program services $3,325,267 · management and general $648,833 · fundraising $81,104

  • 10 · Payroll taxes

    total $1,905,676 · program services $1,619,825 · management and general $228,681 · fundraising $57,170

  • 11b · Fees: legal

    total $301,918 · program services $232,477 · management and general $69,441

  • 11c · Fees: accounting

    total $116,554 · program services $89,747 · management and general $26,807

  • 11d · Fees: lobbying

    total $160,993 · management and general $160,993

  • 11f · Fees: investment management

    total $267,580 · management and general $267,580

  • 11g · Fees: other

    total $11,294,570 · program services $9,179,750 · management and general $2,078,814 · fundraising $36,006

  • 12 · Advertising and promotion

    total $494,551 · program services $380,804 · management and general $113,747

  • 13 · Office expenses

    total $1,713,531 · program services $1,268,013 · management and general $308,436 · fundraising $137,082

  • 14 · Information technology

    total $1,672,375 · program services $1,254,281 · management and general $351,199 · fundraising $66,895

  • 16 · Occupancy

    total $3,288,999 · program services $2,533,194 · management and general $755,805

  • 17 · Travel

    total $1,060,330 · program services $805,851 · management and general $201,463 · fundraising $53,016

  • 19 · Conferences, conventions and meetings

    total $125,200 · program services $80,128 · management and general $18,780 · fundraising $26,292

  • 20 · Interest

    total $1,564,574 · program services $1,204,722 · management and general $359,852

  • 22 · Depreciation, depletion and amortization

    total $4,119,733 · program services $3,172,194 · management and general $947,539

  • 23 · Insurance

    total $528,282 · program services $406,777 · management and general $121,505

  • 24a · Other expenses: AUXILIARY EXPENSES

    total $1,255,369 · program services $966,634 · management and general $288,735

  • 24b · Other expenses: BAD DEBT

    total $1,016,038 · program services $782,349 · management and general $233,689

  • 24e · All other expenses

    total $543,690 · program services $468,338 · management and general $23,136 · fundraising $52,216

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,348,834 · end of year $6,502,790

  • 2 · Savings and temporary cash investments

    beginning of year $446,121 · end of year $696,390

  • 3 · Pledges and grants receivable

    beginning of year $925,148 · end of year $1,520,670

  • 4 · Accounts receivable

    beginning of year $10,635,411 · end of year $3,866,499

  • 7 · Other notes and loans receivable

    beginning of year $1,381,142 · end of year $1,265,040

  • 9 · Prepaid expenses and deferred charges

    beginning of year $387,016 · end of year $79,146

  • 10a · Land, buildings and equipment: cost or other basis

    $119,320,933

  • 10b · Land, buildings and equipment: accumulated depreciation

    $69,382,715

  • 10c · Land, buildings and equipment, net

    beginning of year $53,734,266 · end of year $49,938,218

  • 11 · Investments: publicly traded securities

    beginning of year $53,122,980 · end of year $56,854,027

  • 15 · Other assets

    beginning of year $799,891 · end of year $1,186,529

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,810,776 · end of year $8,590,271

  • 19 · Deferred revenue

    beginning of year $2,431,489 · end of year $3,653,207

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,390,000 · end of year $6,952,556

  • 23 · Secured mortgages and notes payable

    beginning of year $28,356,365 · end of year $24,466,103

  • 25 · Other liabilities

    beginning of year $1,642,132 · end of year $1,908,920

  • 27 · Net assets without donor restrictions

    beginning of year $14,386,587 · end of year $13,867,598

  • 28 · Net assets with donor restrictions

    beginning of year $64,763,460 · end of year $62,470,654

Mission and programs · 2023

Mission

SEE SCHEDULE O.CARLOW UNIVERSITY, ROOTED IN ITS CATHOLIC IDENTITY AND EMBODYING THE HERITAGE AND VALUES OF THE SISTERS OF MERCY, OFFERS TRANSFORMATIONAL EDUCATIONAL OPPORTUNITIES FOR A DIVERSE COMMUNITY OF LEARNERS AND EMPOWERS THEM TO EXCEL IN THEIR CHOSEN WORK AS COMPASSIONATE, RESPONSIBLE LEADERS IN THE CREATION OF A JUST AND MERCIFUL WORLD.

Activities or mission (Part I)

TRANSFORMATIONAL HIGHER EDUCATIONAL OPPORTUNITIES FOR A DIVERSE COMMUNITY.

  • AT CARLOW UNIVERSITY, WE STRIVE TO CREATE AN EXPERIENCE THAT IS NOT ONLY LIFE-CHANGING, BUT WORLD-CHANGING. CARLOW GRADUATES ARE PREPARED TO BE PIONEERS IN WORKFORCE DEVELOPMENT, HEALTHCARE, EDUCATION, BUSINESS, THE ARTS, AND MORE. THEY ARE PART OF A NEARLY ONE HUNDRED-YEAR TRADITION OF ETHICAL LEADERS WITH THE EMPATHY AND SPIRIT TO CREATE MEANINGFUL SOCIETAL CHANGE. ROOTED IN UNITY AND LED BY COMPASSION, WE ARE REDEFINING WHAT A LEADER LOOKS LIKE-AND IT LOOKS LIKE A CARLOW GRADUATE. SEE CONTINUATION ON SCHEDULE O.HERE, OUR WORLD-CLASS FACULTY HELPS STUDENTS GROW INTO HIGH-ACHIEVING, COMPASSIONATE LEADERS IN THEIR RESPECTIVE FIELDS. OUR STUDENTS ARE SHAPED INTELLECTUALLY, SOCIALLY, AND SPIRITUALLY THROUGH A SERVICE-CENTERED BRAND OF EDUCATION, PREPARING THEM TO ETHICALLY PROSPER IN OUR EVER-CHANGING WORLD. CARLOW UNIVERSITY REMAINS DEDICATED TO SUPPORTING AND INCREASING ACCESS TO HIGHER EDUCATION. FOR THE 2023-24 ACADEMIC YEAR, 41% OF CARLOW'S UNDERGRADUATE STUDENTS ARE PELL GRANT RECIPIENTS, AND 31% IDENTIFY AS STUDENTS OF COLOR. OUR STUDENT BODY CONTINUES TO REFLECT THE UNIVERSITY'S COMMITMENT TO EDUCATING STUDENTS OF ALL AGES AND BACKGROUNDS. OUR OLDEST STUDENT THIS YEAR IS 72. THE SUCCESS OF CARLOW STUDENTS IS EVIDENT IN THEIR POST-GRADUATION ACHIEVEMENTS. AMONG GRADUATES FROM THE 2022-23 ACADEMIC YEAR, WE HAVE AN IMPRESSIVE 89% KNOWLEDGE RATE. OF THOSE SEEKING EMPLOYMENT, 95% OF BACHELOR'S DEGREE RECIPIENTS, 99% OF MASTER'S GRADUATES, AND 100% OF DOCTORAL GRADUATES SECURED POSITIVE PROFESSIONAL PLACEMENTS. ADDITIONALLY, 97% OF BACHELOR'S GRADUATES PURSUING FURTHER EDUCATION AND 100% OF MASTER'S GRADUATES CONTINUING THEIR STUDIES REPORTED SUCCESSFUL TRANSITIONS. THESE STRONG OUTCOMES HIGHLIGHT THE EFFECTIVENESS OF CARLOW'S ACADEMIC PROGRAMS AND THE UNIVERSITY'S DEDICATION TO PREPARING GRADUATES FOR MEANINGFUL CAREERS AND ADVANCED STUDY. CARLOW UNIVERSITY RANKED STRONGLY IN THE U.S. NEWS AND WORLD REPORT LIST OF TOP PERFORMERS ON SOCIAL MOBILITY FOR 2024. CARLOW NOW RANKS #23 IN THE CATEGORY, MAKING IT THE HIGHEST-RANKING INSTITUTION IN THE PITTSBURGH REGION. WHETHER THROUGH ADVANCING SOCIAL MOBILITY, CHAMPIONING COMMUNITY, OR SIMPLY SUPPORTING PEOPLE, EVERY INITIATIVE REFLECTS CARLOW'S MISSION TO BE A FORCE FOR POSITIVE GOOD. WE BELIEVE IN THE POWER OF CONNECTION AND GROWTH, ENSURING THAT EVERY VOICE FINDS SUPPORT AND EVERY EFFORT INSPIRES CHANGE. TOGETHER, WE'RE CREATING A BRIGHTER FUTURE - A MORE JUST AND MERCIFUL WORLD.

    Expenses $69,361,346 · Grants $17,049,257 · Revenue $64,545,401

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kathy W Humphrey PhD

    PRESIDENT

    Total calculated
    $593,436
    From this org
    $518,069
    From related orgs
    $0
    Other
    $75,367
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $459,069
    Bonus
    $25,000
    Other
    $34,000
    Deferred
    $49,365
    Nontaxable benefits
    $26,002
    Filer's total
    $593,436
  • Jessica Priselac Trustee

    (THRU 6/24), SECRETARY (AS OF 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Marcia Martin

    SECRETARY (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • James H McTiernan

    TREASURER

    Total calculated
    $0
    Hours/week
    2
  • Sister Julia Upton Rsm PhD MPH

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2
  • Sister Helen Marie Burns Rsm

    VICE CHAIR, MISSION

    Total calculated
    $0
    Hours/week
    2
  • Bryan Dilucente

    CHAIR

    Total calculated
    $0
    Hours/week
    2
  • Margaret Meis Armen JD

    TRUSTEE (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Debra Caplan

    TRUSTEE (ENTER 2/24)

    Total calculated
    $0
    Hours/week
    2
  • Anita Courcoulas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • John Denny

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Patricia G Donohoe

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Amie Downs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Sister Mary M Fanning Rsm PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Bart Gabler JD MBA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Martin Lamar

    TRUSTEE (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Steven Massaro

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Caitlin McLaughlin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Maribeth McLaughlin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Norm Mitry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Jo Ellen Parker

    TRUSTEE (ENTER 2/24)

    Total calculated
    $0
    Hours/week
    2
  • Alex Rodriguez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Deborah L Rice-Johnson

    TRUSTEE (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Lourdes Sanchez Ridge Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Morton Stanfield Jr

    TRUSTEE (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Anna Bamonte Torrance Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Carolina Velez JD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Lara Washington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Sister Susan J Welsh Rsm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Sister Linda Werthman Rsm PhD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Representative Jake Wheatleyjr

    TRUSTEE (EXIT 6/24)

    Total calculated
    $0
    Hours/week
    2
  • Latasha Wilson-Batch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2
  • Rhonda Maneval Dean College

    OF NURSING, INTERIM PROVOST (6/24)

    Total calculated
    $232,007
    From this org
    $219,613
    From related orgs
    $0
    Other
    $12,394
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,613
    Bonus
    $0
    Other
    $0
    Deferred
    $11,000
    Nontaxable benefits
    $1,394
    Filer's total
    $232,007
  • Sibdas Ghosh Vpprovost

    (THRU 9/23), ADJUNCT (AS OF 10/23)

    Total calculated
    $196,803
    From this org
    $180,039
    From related orgs
    $0
    Other
    $16,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,039
    Bonus
    $0
    Other
    $0
    Deferred
    $8,661
    Nontaxable benefits
    $8,103
    Filer's total
    $196,803
  • Matthew Gordley Dean College

    OF ARTS, INTERIM PROVOST (6/24)

    Total calculated
    $193,301
    From this org
    $154,410
    From related orgs
    $0
    Other
    $38,891
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,410
    Bonus
    $0
    Other
    $0
    Deferred
    $9,960
    Nontaxable benefits
    $28,931
    Filer's total
    $193,301
  • John Lea Vp Of

    FINANCE & BUS. DEV./UNIV. TREAS.

    Total calculated
    $132,485
    From this org
    $131,712
    From related orgs
    $0
    Other
    $773
    Hours/week
    50
  • Errika Fearbry Jones As Of

    11/23) CHIEF OF STAFF/UNIVERSITY SEC.

    Total calculated
    $9,846
    From this org
    $9,846
    From related orgs
    $0
    Other
    $0
    Hours/week
    50
  • Caralynn Kassabov

    VP FOR ADVANCEMENT

    Total calculated
    $218,795
    From this org
    $177,197
    From related orgs
    $0
    Other
    $41,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,197
    Bonus
    $0
    Other
    $0
    Deferred
    $9,427
    Nontaxable benefits
    $32,171
    Filer's total
    $218,795
  • James Santucci

    OPERATIONS SERGEANT

    Total calculated
    $227,625
    From this org
    $193,871
    From related orgs
    $0
    Other
    $33,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,871
    Bonus
    $0
    Other
    $0
    Deferred
    $3,752
    Nontaxable benefits
    $30,002
    Filer's total
    $227,625
  • Thomas Fouse

    ADMINISTRATIVE SERGEANT

    Total calculated
    $206,535
    From this org
    $176,536
    From related orgs
    $0
    Other
    $29,999
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,536
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $29,999
    Filer's total
    $206,535
  • Mary Cercere

    VP FOR ENROLLMENT MGMT

    Total calculated
    $202,889
    From this org
    $148,357
    From related orgs
    $0
    Other
    $54,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,357
    Bonus
    $0
    Other
    $0
    Deferred
    $7,845
    Nontaxable benefits
    $46,687
    Filer's total
    $202,889
  • Timothy Phillips

    VP OF STUDENT AFFAIRS

    Total calculated
    $178,367
    From this org
    $143,361
    From related orgs
    $0
    Other
    $35,006
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,361
    Bonus
    $0
    Other
    $0
    Deferred
    $7,426
    Nontaxable benefits
    $27,580
    Filer's total
    $178,367
  • John Cardone

    VP OF MARKETING & COMMUNICATION

    Total calculated
    $137,405
    From this org
    $136,682
    From related orgs
    $0
    Other
    $723
    Hours/week
    40
  • David Meadows

    FORMER OFFICER

    Total calculated
    $160,270
    From this org
    $132,439
    From related orgs
    $0
    Other
    $27,831
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $132,439
    Bonus
    $0
    Other
    $0
    Deferred
    $8,208
    Nontaxable benefits
    $19,623
    Filer's total
    $160,270

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
HOUSING ALLOWANCE IS PAID AND INCLUDED AS GROSS WAGES ON FORM W-2 FOR THE PRESIDENT ONLY. SOCIAL CLUB DUES - THE PRESIDENT BELONGS TO A LOCAL SOCIAL CLUB IN WHICH DUES ARE REQUIRED. IN ORDER THAT THE PRESIDENT MAY ENTERTAIN POTENTIAL DONORS AND OTHER BUSINESS ASSOCIATES OF THE UNIVERSITY, THE UNIVERSITY PAYS OR REIMBURSES FOR, THE PERIODIC DUES FOR MEMBERSHIP IN THE LOCAL SOCIAL CLUB. DIRECT EXPENSES FOR UTILIZATION OF THE CLUB IS THE PRESIDENT'S RESPONSIBILITY, EXCEPT WHEN ATTRIBUTABLE TO UNIVERSITY BUSINESS.
PART I, LINE 3
COMPENSATION FOR THE PRESIDENT AND THE TOP EXECUTIVES IS DETERMINED BY A COMPENSATION SUBCOMMITTEE OF THE BOARD OF TRUSTEES BASED ON INTERNAL COMPENSATION DATA BENCHMARKED AGAINST COMPENSATION STUDIES AND HIGHER EDUCATION METRICS SUCH AS AICUP AND CUPA. A WRITTEN EMPLOYMENT CONTRACT WAS ESTABLISHED UPON APPROVAL BY THE BOARD.
PART I, LINE 4B
THE PRESIDENT PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN IN FY 2024. $42,432 WAS ACCRUED ON 6/30/2024.
PART I, LINE 7
THE PRESIDENT RECEIVED A BONUS IN 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202501349349302460

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