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Nonprofiteer
← GOODWIN UNIVERSITY INC

Form 990 for tax year 2023

Filed by GOODWIN UNIVERSITY INC.

Totals

Total revenue
$66,598,646
Total expenses
$70,581,547
Contributions and grants received
$8,872,436
Grants paid
$10,100,990
Program service revenue
$55,799,796
Investment income
-$58,316
Other revenue
$1,984,730
Total assets, end of year
$308,457,864
Total liabilities, end of year
$57,922,693
Net assets or fund balances, end of year
$250,535,171
Program services expenses (Part IX)
$45,503,557
Management and general expenses
$24,610,363
Fundraising expenses
$467,627
Program service expenses (Part III)
$45,503,557

Program services were 64.5% 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.

  • 1d · Related organizations

    $973,139

  • 1e · Government grants (contributions)

    $6,519,990

  • 1f · All other contributions, gifts and grants

    $1,379,307

  • 2a · Program service revenue: TUITION & FEES

    total $55,799,796 · related or exempt $55,799,796

  • 3 · Investment income

    total $759,487 · excluded $759,487

  • 6a · Gross rents

    real property $2,792,451

  • 6b · Less rental expenses

    real property $3,483,851

  • 6c · Rental income or loss

    real property -$691,400

  • 6d · Net rental income or loss

    total -$691,400 · unrelated business -$724,749 · excluded $33,349

  • 7a · Gross sales of assets other than inventory

    other assets $55,050

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

    other assets $872,853

  • 7c · Gain or loss

    other assets -$817,803

  • 7d · Net gain or loss

    total -$817,803 · excluded -$817,803

  • 10a · Gross sales of inventory

    $58,298

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $58,298 · related or exempt $58,298

  • 11a · Other revenue: MANAGEMENT FEE INCOME

    total $2,379,868 · related or exempt $2,379,868

  • 11b · Other revenue: REBATES/LOYALTY REWARD

    total $85,981 · related or exempt $85,981

  • 11d · All other revenue

    total $151,983 · related or exempt $151,983

  • 11e · Other revenue, total

    $2,617,832

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,100,990 · program services $10,100,990

  • 5 · Compensation of officers, directors and key employees

    total $1,369,562 · program services $102,029 · management and general $1,267,533

  • 6 · Compensation of disqualified persons

    total $86,824 · management and general $86,824

  • 7 · Other salaries and wages

    total $25,088,270 · program services $18,104,046 · management and general $6,553,890 · fundraising $430,334

  • 8 · Pension plan contributions

    total $1,190,726 · program services $157,428 · management and general $1,033,298

  • 9 · Other employee benefits

    total $2,411,500 · program services $325,171 · management and general $2,086,329

  • 10 · Payroll taxes

    total $2,142,725 · program services $1,381,022 · management and general $730,231 · fundraising $31,472

  • 11b · Fees: legal

    total $157,325 · management and general $157,325

  • 11c · Fees: accounting

    total $179,471 · management and general $179,471

  • 11d · Fees: lobbying

    total $42,000 · management and general $42,000

  • 11g · Fees: other

    total $1,412,624 · program services $291,460 · management and general $1,121,164

  • 12 · Advertising and promotion

    total $3,627,597 · program services $263,858 · management and general $3,363,739

  • 13 · Office expenses

    total $411,364 · program services $96,392 · management and general $314,002 · fundraising $970

  • 16 · Occupancy

    total $966,201 · program services $710,434 · management and general $255,767

  • 17 · Travel

    total $365,250 · program services $221,262 · management and general $142,761 · fundraising $1,227

  • 20 · Interest

    total $566,212 · program services $424,659 · management and general $141,553

  • 22 · Depreciation, depletion and amortization

    total $9,699,336 · program services $7,274,502 · management and general $2,424,834

  • 23 · Insurance

    total $736,595 · management and general $736,595

  • 24a · Other expenses: STUDENT EXPENSE

    total $3,073,028 · program services $2,853,991 · management and general $219,037

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $2,131,852 · program services $11,630 · management and general $2,120,222

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $1,232,070 · program services $930,473 · management and general $301,597

  • 24d · Other expenses: EQUIPMENT EXPENSES

    total $1,195,243 · program services $1,057,039 · management and general $138,204

  • 24e · All other expenses

    total $2,394,782 · program services $1,197,171 · management and general $1,193,987 · fundraising $3,624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,721,722 · end of year $6,660,020

  • 2 · Savings and temporary cash investments

    beginning of year $14,990,735 · end of year $14,068,278

  • 3 · Pledges and grants receivable

    beginning of year $8,649,229 · end of year $4,171,069

  • 4 · Accounts receivable

    beginning of year $2,835,141 · end of year $5,368,731

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,945,765 · end of year $764,849

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

    $356,723,666

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

    $89,156,371

  • 10c · Land, buildings and equipment, net

    beginning of year $269,954,626 · end of year $267,567,295

  • 15 · Other assets

    beginning of year $7,633,300 · end of year $9,857,622

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,006,471 · end of year $10,830,300

  • 19 · Deferred revenue

    beginning of year $6,026,566 · end of year $8,179,945

  • 23 · Secured mortgages and notes payable

    beginning of year $37,012,414 · end of year $35,163,371

  • 25 · Other liabilities

    beginning of year $3,794,042 · end of year $3,749,077

  • 27 · Net assets without donor restrictions

    beginning of year $253,794,025 · end of year $250,268,411

  • 28 · Net assets with donor restrictions

    beginning of year $97,000 · end of year $266,760

Mission and programs · 2023

Mission

THE MISSION OF GOODWIN UNIVERSITY IS TO EDUCATE A DIVERSE STUDENT POPULATION IN A DYNAMIC ENVIRONMENT THAT ALIGNS EDUCATION, COMMERCE AND COMMUNITY. OUR INNOVATIVE PROGRAMS OF STUDY PREPARE STUDENTS FOR PROFESSIONAL CAREERS WHILE PROMOTING LIFELONG LEARNING AND CIVIC RESPONSIBILITY. AS A NURTURING COLLEGE COMMUNITY WE CHALLENGE STUDENTS, FACULTY, STAFF AND ADMINISTRATION TO FULLY REALIZE THEIR HIGHEST ACADEMIC, PROFESSIONAL AND PERSONAL POTENTIAL.

Activities or mission (Part I)

SEE SCHEDULE O

  • GOODWIN 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.

    Expenses $45,503,557 · Grants $10,100,990 · Revenue $58,475,926

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

Listed in Part VII

  • FRANK AMODIO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • RON ANGELO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • MICHELE BUSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • GREGORY BUTLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • EDWARD CASARES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • MERILEE DEJOHN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.55 related

  • MARTIN D'ERAMO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ANTHONY DIFATTA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • MARIA ELLIS

    OUTGOING CHAIR

    Total calculated
    $0
    Hours/week
    2

  • PHIL FOX

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ETHAN FOXMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • LARRY GOLDBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • MARY ANN HANLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • JEFFREY HOFFMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • LEE HOUSLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.8 related

  • JACKIE JACOBY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1.05 related

  • ADAM JEAMEL

    OUTGOING TREASURER

    Total calculated
    $0
    Hours/week
    2 + 0.7 related

  • MOLLY LOUDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.6 related

  • JULIO MATURANA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MEGAN MEHR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.5 related

  • JUDITH RESNICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.6 related

  • SE-MIN SOHN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 0.7 related

  • ALVIN THOMPSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • JOHN WALTERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • WILFREDO NIEVES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.3 related

  • RICHARD SHECHTMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.6 related

  • MARK SCHEINBERG

    PRESIDENT

    Total calculated
    $799,502
    From this org
    $775,303
    From related orgs
    $0
    Other
    $24,199
    Hours/week
    40 + 9.9 related

    Schedule J breakdown matched by us

    Base
    $634,863
    Bonus
    $140,000
    Other
    $440
    Deferred
    $8,250
    Nontaxable benefits
    $15,949
    Filer's total
    $799,502

  • EDWIN MEYER JR

    CFO

    Total calculated
    $323,160
    From this org
    $274,782
    From related orgs
    $0
    Other
    $48,378
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $254,342
    Bonus
    $20,000
    Other
    $440
    Deferred
    $6,495
    Nontaxable benefits
    $41,883
    Filer's total
    $323,160

  • BRYANT HARRELL

    VP OF FACILITIES & IT

    Total calculated
    $249,952
    From this org
    $244,497
    From related orgs
    $0
    Other
    $5,455
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $224,068
    Bonus
    $20,000
    Other
    $429
    Deferred
    $5,365
    Nontaxable benefits
    $90
    Filer's total
    $249,952

  • TODD ANDREWS

    VP OF ECONOMIC AND STRATEGY

    Total calculated
    $303,343
    From this org
    $296,258
    From related orgs
    $0
    Other
    $7,085
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $275,818
    Bonus
    $20,000
    Other
    $440
    Deferred
    $6,495
    Nontaxable benefits
    $590
    Filer's total
    $303,343

  • JEAN MCGILL-WHITE

    VP HUMAN RESOURCES

    Total calculated
    $243,025
    From this org
    $202,629
    From related orgs
    $0
    Other
    $40,396
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $182,277
    Bonus
    $20,000
    Other
    $352
    Deferred
    $4,736
    Nontaxable benefits
    $35,660
    Filer's total
    $243,025

  • MELISSA QUINLAN

    VP OF INST EFFECTIVENESS

    Total calculated
    $185,597
    From this org
    $176,470
    From related orgs
    $0
    Other
    $9,127
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,195
    Bonus
    $20,000
    Other
    $275
    Deferred
    $4,037
    Nontaxable benefits
    $5,090
    Filer's total
    $185,597

  • MICHAEL PARDALES

    PROVOST & DEAN OF FACULTY

    Total calculated
    $220,787
    From this org
    $215,314
    From related orgs
    $0
    Other
    $5,473
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,984
    Bonus
    $15,000
    Other
    $330
    Deferred
    $5,383
    Nontaxable benefits
    $90
    Filer's total
    $220,787

  • DANIEL NOONAN

    VP ENROLLMENT SERVICES

    Total calculated
    $297,707
    From this org
    $291,264
    From related orgs
    $0
    Other
    $6,443
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $260,824
    Bonus
    $30,000
    Other
    $440
    Deferred
    $6,353
    Nontaxable benefits
    $90
    Filer's total
    $297,707

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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 7
PERFORMANCE-BASED BONUSES WERE DETERMINED FOR AND PAID TO ALL LISTED INDIVIDUALS, OTHER THAN THE PRESIDENT OF THE UNIVERSITY, THROUGH RECOMMENDATIONS FROM THE EXECUTIVE VICE PRESIDENT & PROVOST AND THE VICE PRESIDENT OF HUMAN RESOURCES TO THE PRESIDENT OF THE UNIVERSITY. THE PRESIDENT'S PERFORMANCE-BASED BONUS WAS DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE PRESIDENT DID NOT PARTICIPATE IN ITS DETERMINATION.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CAMPUS REALTY LLC

    RESIDENTIAL REAL ESTATE RENTALS · CT · income $1,402,068 · assets $11,361,198

    Directly controlled by GOODWIN UNIVERSITY INC

  • GOODWIN COLLEGE KING COURT LLC

    RESIDENTIAL REAL ESTATE RENTALS · CT · income $610,603 · assets $5,911,600

    Directly controlled by GOODWIN UNIVERSITY INC

  • GOODWIN COLLEGE 417 MAIN LLC

    RESIDENTIAL REAL ESTATE RENTALS · CT · income $0 · assets $0

    Directly controlled by GOODWIN UNIVERSITY INC

  • MAIN AND ENSIGN DEVELOPMENT LLC

    RESIDENTIAL REAL ESTATE RENTALS · CT · income $209,844 · assets $10,824,562

    Directly controlled by GOODWIN UNIVERSITY INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RIVER CAMPUS INC

    C · REAL ESTATE HOLDINGS · CT · 100% owned · share of assets $1,664,359 · controlled entity

    Directly controlled by GOODWIN UNIVERSITY INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349303428

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