Form 990 for tax year 2023

Filed by QUINNIPIAC UNIVERSITY.

Totals

Total revenue: $595,343,168
Total expenses: $537,208,272
Contributions and grants received: $16,754,906
Grants paid: $192,891,391
Program service revenue: $510,784,665
Investment income: $59,759,077
Other revenue: $8,044,520
Total assets, end of year: $1,981,792,376
Total liabilities, end of year: $508,914,300
Net assets or fund balances, end of year: $1,472,878,076
Program services expenses (Part IX): $464,180,895
Management and general expenses: $67,191,520
Fundraising expenses: $5,835,857
Program service expenses (Part III): $464,180,895

Program services were 86.4% 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)

$4,859,310
1f · All other contributions, gifts and grants

$11,895,596
1g · Noncash contributions included above

$1,138,852
2a · Program service revenue: TUITION AND FEES

total $427,228,980 · related or exempt $427,228,980
2b · Program service revenue: AUXILLIARY ENTERPRISES

total $80,385,623 · related or exempt $80,385,623
2c · Program service revenue: ATHLETICS

total $3,170,062 · related or exempt $3,170,062
3 · Investment income

total $17,503,911 · unrelated business $130,090 · excluded $17,373,821
4 · Income from investment of tax-exempt bond proceeds

total $1,474,046 · excluded $1,474,046
6a · Gross rents

real property $805,202
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $805,202
6d · Net rental income or loss

total $805,202 · unrelated business $288,387 · excluded $516,815
7a · Gross sales of assets other than inventory

securities $374,257,915 · other assets $66,320
7b · Less cost or other basis and sales expenses

securities $333,535,982 · other assets $7,133
7c · Gain or loss

securities $40,721,933 · other assets $59,187
7d · Net gain or loss

total $40,781,120 · unrelated business $44,249 · excluded $40,736,871
11a · Other revenue: INSURANCE SETTLEMENT INCOME

total $352,989 · excluded $352,989
11b · Other revenue: INDIRECT COST RECOVERY

total $290,227 · related or exempt $290,227
11c · Other revenue: SPONSORSHIP REVENUE

total $69,564 · unrelated business $69,564
11d · All other revenue

total $6,526,538 · related or exempt $3,884,404 · unrelated business $110,007 · excluded $2,532,127
11e · Other revenue, total

$7,239,318

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $186,354,016 · program services $186,354,016
3 · Grants to foreign organizations and individuals

total $6,537,375 · program services $6,537,375
5 · Compensation of officers, directors and key employees

total $2,571,219 · program services $194,934 · management and general $2,181,351 · fundraising $194,934
6 · Compensation of disqualified persons

total $180,000 · management and general $180,000
7 · Other salaries and wages

total $142,775,333 · program services $113,768,620 · management and general $26,039,572 · fundraising $2,967,141
8 · Pension plan contributions

total $9,592,897 · program services $7,503,490 · management and general $1,876,250 · fundraising $213,157
9 · Other employee benefits

total $28,886,428 · program services $22,522,634 · management and general $5,636,397 · fundraising $727,397
10 · Payroll taxes

total $10,144,806 · program services $8,068,051 · management and general $1,862,655 · fundraising $214,100
11b · Fees: legal

total $410,501 · management and general $410,501
11c · Fees: accounting

total $514,665 · management and general $514,665
11d · Fees: lobbying

total $500 · management and general $500
11f · Fees: investment management

total $4,950,904 · management and general $4,950,904
11g · Fees: other

total $13,565,939 · program services $10,217,756 · management and general $3,206,665 · fundraising $141,518
12 · Advertising and promotion

total $5,422,786 · program services $4,398,072 · management and general $1,017,687 · fundraising $7,027
13 · Office expenses

total $24,635,365 · program services $23,228,834 · management and general $1,264,476 · fundraising $142,055
14 · Information technology

total $7,656,188 · program services $3,813,729 · management and general $3,641,547 · fundraising $200,912
16 · Occupancy

total $9,255,919 · program services $8,482,866 · management and general $773,053
17 · Travel

total $5,579,404 · program services $3,962,486 · management and general $1,547,725 · fundraising $69,193
19 · Conferences, conventions and meetings

total $801,533 · program services $603,307 · management and general $193,668 · fundraising $4,558
20 · Interest

total $15,384,428 · program services $15,384,428
22 · Depreciation, depletion and amortization

total $32,364,094 · program services $29,604,672 · management and general $2,742,777 · fundraising $16,645
23 · Insurance

total $6,449,668 · program services $156,137 · management and general $6,293,531
24a · Other expenses: EVENT EXPENSE

total $6,296,984 · program services $4,629,987 · management and general $808,477 · fundraising $858,520
24b · Other expenses: MAINTENANCE AND REPAIRS

total $5,574,154 · program services $5,473,838 · management and general $100,316
24c · Other expenses: STUDENT SERVICE AWARDS

total $2,717,552 · program services $2,717,552
24d · Other expenses: UNRELATED BUSINESS INCO

total $303,026 · management and general $303,026
24e · All other expenses

total $8,282,588 · program services $6,558,111 · management and general $1,645,777 · fundraising $78,700

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $14,666,409 · end of year $15,496,878
3 · Pledges and grants receivable

beginning of year $16,181,683 · end of year $18,525,887
4 · Accounts receivable

beginning of year $8,792,461 · end of year $6,983,828
9 · Prepaid expenses and deferred charges

beginning of year $3,010,555 · end of year $4,162,463
10a · Land, buildings and equipment: cost or other basis

$1,674,779,890
10b · Land, buildings and equipment: accumulated depreciation

$520,044,039
10c · Land, buildings and equipment, net

beginning of year $1,029,253,834 · end of year $1,154,735,851
11 · Investments: publicly traded securities

beginning of year $752,534,167 · end of year $632,984,234
12 · Investments: other securities

beginning of year $61,402,455 · end of year $144,947,529
15 · Other assets

beginning of year $3,928,066 · end of year $3,955,706
17 · Accounts payable and accrued expenses

beginning of year $40,172,271 · end of year $43,968,314
19 · Deferred revenue

beginning of year $31,425,240 · end of year $17,105,898
20 · Tax-exempt bond liabilities

beginning of year $456,724,263 · end of year $439,101,710
25 · Other liabilities

beginning of year $8,715,407 · end of year $8,738,378
27 · Net assets without donor restrictions

beginning of year $1,232,438,214 · end of year $1,347,506,533
28 · Net assets with donor restrictions

beginning of year $120,294,235 · end of year $125,371,543

Mission and programs · 2023

Mission

TO BUILD THE UNIVERSITY OF THE FUTURE WITH A STRATEGY PROPELLING US FROM OUR STORIED PAST TOWARD AN AMBITIOUS, INCLUSIVE & INNOVATIVE FUTURE BY PREPARING GRADUATES AS ENLIGHTENED GLOBAL CITIZENS EQUIPPED FOR THE CHALLENGES & OPPORTUNITIES OF CAREERS OF THE FUTURE. (SCH O) WE ARE A COMMUNITY THAT EMBRACES POSITIVE CHANGE, INCLUSIVE EXCELLENCE, KINDNESS AND GENEROSITY OF SPIRIT WITH A COMMITMENT TO LIFT THE COMMUNITIES IN WHICH WE LIVE. OUR STUDENTS, FACULTY AND STAFF ARE BOLD AND CURIOUS, INNOVATORS AND EXPLORERS. WE PARTNER WITH EMPLOYERS TO UNDERSTAND AND PREPARE GRADUATES WHO MEET THEIR TALENT AND TECHNOLOGICAL NEEDS, WE EMBRACE LIFELONG LEARNING, AND WE PURSUE LEARNING AND SCHOLARSHIP THAT ASKS AND ADDRESSES SIGNIFICANT SOCIETAL AND SCIENTIFIC QUESTIONS.

Activities or mission (Part I)

PREPARE GRADUATES AS ENLIGHTENED GLOBAL CITIZENS EQUIPPED FOR CAREERS OF THE FUTURE. (SEE SCH O) QUINNIPIAC UNIVERSITY ("QU") IS A PRIVATE, COEDUCATIONAL UNIVERSITY WHERE STUDENTS ENGAGE IN AN EDUCATIONAL EXPERIENCE THAT'S BOTH PERSONAL AND CHALLENGING FROM FACULTY WHO CARE DEEPLY ABOUT STUDENT OUTCOMES. QU IS AN INSTITUTION OF HIGHER EDUCATION, WHICH IS ACCREDITED BY THE BOARD OF HIGHER EDUCATION OF THE STATE OF CONNECTICUT AND THE NEW ENGLAND COMMISSION OF HIGHER EDUCATION. ITS PURPOSE IS TO OFFER PROGRAMS OF INSTRUCTION LEADING TO BACHELORS, MASTERS AND PROFESSIONAL DOCTORATE DEGREES IN A WIDE RANGE OF PROFESSIONAL FIELDS. QU OFFERS 150 PROGRAMS TO APPROXIMATELY 6,200 UNDERGRADUATE AND 2,700 GRADUATE STUDENTS.

EDUCATIONAL PROGRAMS: INCLUDES THE PROVISION OF INSTRUCTION AS WELL AS RESEARCH ACTIVITIES. QUINNIPIAC UNIVERSITY OFFERS PROGRAMS OF INSTRUCTION LEADING TO UNDERGRADUATE AND GRADUATE DEGREES IN A WIDE RANGE OF PROFESSIONAL FIELDS RELATING TO HEALTH SCIENCES, BUSINESS LAW, AND COMMUNICATIONS, AS WELL AS IN VARIOUS THEORETICAL AND APPLIED DISCIPLINES OF ARTS AND SCIENCE. THE UNIVERSITY HAS APPROXIMATELY 6,000 FULL-TIME UNDERGRADUATE, 200 PART-TIME UNDERGRADUATE, AND 2,700 FULL-TIME AND PART-TIME GRADUATE ENROLLED STUDENTS.

Expenses $166,936,191 · Grants $192,891,391 · Revenue $427,228,980
AUXILIARY SERVICES: INCLUDES THE PROVISION OF DORMITORY AND DINING SERVICES FOR RESIDENTIAL STUDENTS AS WELL AS UPKEEP FOR STUDENT FACILITIES. STUDENTS AT QU DO MORE THAN EARN A DEGREE. THEY ARE PART OF A VIBRANT COMMUNITY WHERE STUDENTS RALLY AROUND COMMON INTERESTS, PASSIONS AND CAUSES. STUDENTS LIVE IN A DIVERSE COMMUNITY IN AN ENVIRONMENT PURPOSEFULLY DESIGNED TO CREATE A HEALTHY AND ACTIVE LIFESTYLE.

Expenses $71,525,335 · Revenue $80,385,623
STUDENT SERVICE PROGRAMS: INCLUDES THE PROVISION FOR PROGRAMS AND SERVICES SUPPORTING THE STUDENT LIFE PROGRAM AND EXPENDITURES RELATING TO STUDENT FINANCIAL AID. QUINNIPIAC UNIVERSITY HAS A VAST ARRAY OF SERVICES TO SUPPORT ITS STUDENTS INCLUDING, BUT NOT LIMITED TO, HEALTH & WELLNESS COUNSELING AND SUPPORT, FINANCIAL AID GUIDANCE, ATHLETICS AND RECREATION, CLUBS AND ACTIVITIES, SPIRITUAL AND RELIGIOUS LIFE.

Expenses $225,719,369 · Revenue $7,344,693

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

Listed in Part VII

CHARLES SAIA JR

CHAIRMAN

Total calculated

$0

Hours/week

5
BARBARA M BEEVER

SECRETARY

Total calculated

$0

Hours/week

2
CARLTON L HIGHSMITH

VICE CHAIRMAN

Total calculated

$0

Hours/week

2
JOHN C ABELLA

VICE CHAIRMAN

Total calculated

$0

Hours/week

2
WILLIAM T PLATT JR

VICE CHAIRMAN

Total calculated

$0

Hours/week

2
BRETT AMENDOLA

BOARD MEMBER

Total calculated

$0

Hours/week

2
PATRICK CHARMEL

BOARD MEMBER

Total calculated

$0

Hours/week

2
ALEXANDER CLARK

BOARD MEMBER

Total calculated

$0

Hours/week

2
ERIK CLEMONS

BOARD MEMBER

Total calculated

$0

Hours/week

2
ROBERT CONTRI

BOARD MEMBER

Total calculated

$0

Hours/week

2
DEBORAH DYETT DESIR

BOARD MEMBER

Total calculated

$0

Hours/week

2
JEANNA DOHERTY

BOARD MEMBER

Total calculated

$0

Hours/week

2
LAWRENCE HAMDAN

BOARD MEMBER

Total calculated

$0

Hours/week

2
DAVID W KEISER

BOARD MEMBER

Total calculated

$0

Hours/week

2
JAMES LOREE

BOARD MEMBER

Total calculated

$0

Hours/week

2
MARYBETH NOONAN

BOARD MEMBER

Total calculated

$0

Hours/week

2
PETER NOVAK

BOARD MEMBER

Total calculated

$0

Hours/week

2
LYNNE PANTALENA

BOARD MEMBER

Total calculated

$0

Hours/week

2
WARING PARTRIDGE

BOARD MEMBER

Total calculated

$0

Hours/week

2
ROBERT POTTER

BOARD MEMBER

Total calculated

$0

Hours/week

2
VIKRANT SAWHNEY

BOARD MEMBER

Total calculated

$0

Hours/week

2
RICHARD SILVER ESQ

BOARD MEMBER

Total calculated

$0

Hours/week

2
WILLIAM C WELDON

BOARD MEMBER

Total calculated

$0

Hours/week

2
MICHAEL ZAVODSKY

BOARD MEMBER

Total calculated

$0

Hours/week

2
JEFFREY TENGEL

BOARD MEMBER (LEFT 6/30/2023)

Total calculated

$0

Hours/week

2
CHRISTIAN SAUSKA SR

BOARD MEMBER (LEFT 6/30/2023)

Total calculated

$0

Hours/week

2
ARTHUR RICE

BOARD MEMBER (LEFT 6/30/2023)

Total calculated

$0

Hours/week

2
JUDY OLIAN

PRESIDENT

Total calculated

$1,973,167

From this org

$1,877,943

From related orgs

$0

Other

$95,224

Hours/week

40

Schedule J breakdown matched by us

Base

$851,905

Bonus

$932,520

Other

$93,518

Deferred

$70,881

Nontaxable benefits

$24,343

Filer's total

$1,973,167
MARK VARHOLAK

CFO

Total calculated

$637,270

From this org

$559,745

From related orgs

$0

Other

$77,525

Hours/week

40

Schedule J breakdown matched by us

Base

$496,119

Bonus

$36,820

Other

$26,806

Deferred

$55,500

Nontaxable benefits

$22,025

Filer's total

$637,270
RAND PECKNOLD

MEN'S ICE HOCKEY COACH

Total calculated

$917,969

From this org

$845,409

From related orgs

$0

Other

$72,560

Hours/week

40

Schedule J breakdown matched by us

Base

$579,707

Bonus

$250,000

Other

$15,702

Deferred

$33,000

Nontaxable benefits

$39,560

Filer's total

$917,969
PHILLIP BOISELLE

DEAN OF THE SCHOOL OF MEDICINE

Total calculated

$651,447

From this org

$634,947

From related orgs

$0

Other

$16,500

Hours/week

40

Schedule J breakdown matched by us

Base

$622,345

Bonus

$7,700

Other

$4,902

Deferred

$16,500

Nontaxable benefits

$0

Filer's total

$651,447
ELICIA SPEARMAN LEFT 42024

GENERAL COUNSEL AND VP OF HR

Total calculated

$687,873

From this org

$609,313

From related orgs

$0

Other

$78,560

Hours/week

40

Schedule J breakdown matched by us

Base

$415,867

Bonus

$189,282

Other

$4,164

Deferred

$39,000

Nontaxable benefits

$39,560

Filer's total

$687,873
DEBRA LIEBOWITZ

PROVOST

Total calculated

$628,669

From this org

$543,594

From related orgs

$0

Other

$85,075

Hours/week

40

Schedule J breakdown matched by us

Base

$518,272

Bonus

$20,420

Other

$4,902

Deferred

$39,000

Nontaxable benefits

$46,075

Filer's total

$628,669
PATRICIA SACCA-FABBRI

WOMEN'S BASKETBALL COACH

Total calculated

$455,650

From this org

$422,650

From related orgs

$0

Other

$33,000

Hours/week

40

Schedule J breakdown matched by us

Base

$372,138

Bonus

$24,843

Other

$25,669

Deferred

$33,000

Nontaxable benefits

$0

Filer's total

$455,650
JOHN LAHEY

FORMER PRESIDENT EMERITUS

Total calculated

$272,464

From this org

$225,121

From related orgs

$0

Other

$47,343

Hours/week

40

Schedule J breakdown matched by us

Base

$220,671

Bonus

$0

Other

$4,450

Deferred

$23,000

Nontaxable benefits

$24,343

Filer's total

$272,464

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
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

1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
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 1B: THE ABOVE WERE PAID AS PART OF STIPULATIONS WITHIN THE PRESIDENT'S CONTRACT AND NOT PART OF A UNIVERSITY POLICY.
PART I, LINE 3: THE COMPENSATION COMMITTEE OF QUINNIPIAC UNIVERSITY FACILITATES THE EVALUATION PROCESS AND SALARY REVIEW OF THE PRESIDENT OF THE UNIVERSITY. THE COMMITTEE MEETS ON A REGULAR BASIS TO EVALUATE THE PERFORMANCE OF THE PRESIDENT BASED ON THE SUCCESS OR FAILURE OF MEETING APPROVED ANNUAL GOALS AND OBJECTIVES. THE SALARY ADJUSTMENTS BASED ON MERIT ARE TIED TO THIS EVALUATION, COMPARATIVE SALARY DATA FROM SIMILIAR INSTITUTIONS AND RECOMMENDATIONS OF THE COMMITTEE. THE PRESIDENT PRESENTS EVALUATIONS OF THE LEADERSHIP TEAM TO THE COMPENSATION COMMITTEE. THE COMMITTEE HAS AUTHORITY AS DELEGATED TO IT BY THE FULL BOARD OF TRUSTEES TO EXECUTE AND AMEND THE CONTRACT FOR THE PRESIDENT OF THE UNIVERSITY.
PART I, LINE 7: JUDY OLIAN, MARK VARHOLAK, RAND PECKNOLD, DEBRA LIEBOWITZ, AND ELICIA SPEARMAN RECEIVED INCENTIVE PAYMENTS IN ACCORDANCE WITH CONTRACTUAL ARRANGEMENTS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES.

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.

IRELANDS GREAT HUNGER MUSEUM INC

501(C)(3) · MUSEUM, ARTS, LITERATURE · CT · controlled entity

Directly controlled by QUINNIPIAC UNIVERSITY

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 May 2025
IRS schema version: 2023v6.0
Source object: 202511349349307731

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