University of New England

EIN: 010211810 501(c)(3) Education

Biddeford, ME

Total Revenue
$322,835,606
Total Expenses
$277,318,637
Total Assets
$847,931,625
Net Assets
$645,556,021
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1831
Legal Domicile
ME
Principal Officer
James D Herbert PhD
Phone
2076022312
Tax Period
2024-06-01 to 2025-05-31

University of New England, founded in 1831, is a major nonprofit in the Education sector that reported $322.8M in total revenue in fiscal year 2024. Expenses of $277.3M left a modest 14% surplus.

Mission

The University of New England prepares students to thrive in a rapidly-changing world and, in so doing, to improve the health of people, communities, and our planet.

Program Service Accomplishments

Program 1
Expenses: $220,486,332 Revenue: $227,333,101

COLLEGE OF OSTEOPATHIC MEDICINE: The College of Osteopathic Medicine is dedicated to the improvement of life through the education of Osteopathic physicians, research and service. The nationally...

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COLLEGE OF OSTEOPATHIC MEDICINE: The College of Osteopathic Medicine is dedicated to the improvement of life through the education of Osteopathic physicians, research and service. The nationally recognized College emphasizes health, healing and primary care for the people of New England and the nation. The College is the only medical school in Maine and the only osteopathic medical school in New England. The College is housed on the Portland campus, an historic site in suburban Portland, Maine. WESTBROOK COLLEGE OF HEALTH PROFESSIONS: The Westbrook College of Health Professions offers both undergraduate and graduate programs. Undergraduate programs include dental hygiene, nursing, applied exercise science, nutrition, public health, social work, pre-pharmacy and athletic training. Graduate programs include athletic training, nurse anesthesia, occupational therapy, pharmacy, physician assistant and physical therapy. The College offers three doctorates in physical therapy, nurse anesthesia and pharmacy. The Doctorate of pharmacy has its own school (School of Pharmacy). The College has state-of-the-art educational facilities and has pioneered the model of inter-professional education, which is housed on the Portland campus, in suburban Portland, Maine. COLLEGE OF PROFESSIONAL STUDIES - UNE ONLINE: The College partners with the University's other five colleges to provide programmatic, financial and logistical support to students enrolled in online programs, while ensuring excellence in professional and graduate education and consistency in maintaining the highest academic standards. GLOBAL EDUCATION: The Global Education program develops and promotes global education and research opportunities. Students can study abroad via partnerships in Spain, France and Iceland or on our campus in Morocco. In 2014, the University opened its campus in Tangier, Morocco. The program enables students to choose from courses in the sciences, humanities, social sciences, business and the arts including lab science courses. Students gain a global perspective without experiencing any delay in the curriculum required for their major. RESEARCH: The University receives grants from a number of prestigious national sources including the National Science Foundation, U.S. Department of Health and Human Services, National Institute of Health, National Oceanic and Atmospheric Administration, U.S. Department of Agriculture, U.S. Department of the Interior, U.S. Department of Commerce, U.S. Department of Energy and National Aeronautics and Space Administration. The University has several research centers, including the Centers for Excellence focusing in Aging and Health, Collaborative Education, Public Health, Neurosciences, Digital Health, Marine Sciences, Study Pain and Sensory Function, and North Atlantic Studies.

Program 2
Expenses: $28,084,442 Revenue: $33,113,523

Auxiliary services for the delivery of higher education include room and board for over 1,500 students. The mission is to work in partnership with resident students to create a healthy and positive...

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Auxiliary services for the delivery of higher education include room and board for over 1,500 students. The mission is to work in partnership with resident students to create a healthy and positive residential community that enhances academic pursuits and provides opportunities for personal, social and spiritual growth. The goal is to promote an atmosphere rooted in civility and personal responsibility, and encourage reflective thinking and active involvement. The staff strives to teach, model, and learn with the students the values of community, inquiry, integrity, and caring. Maintaining a close relationship with Student Activities creates a positive impact on campus life for the entire University. Students are encouraged to actively engage in many arenas to become more deeply involved in the University, and thereby in their own education. These experiences outside the classroom can truly enhance those experiences students have within the classroom. Additional facts: University of New England Dining Services: Using input from students through comment boards, personal contacts between students and Food Service Managers, and regular meetings with campus Dining Advisory Committees, the University's dining services is able to stay in step with the students' needs and desires. All new UNE students are encouraged to take advantage of any of the above methods of connecting in order to maintain an innovative and creative dining that meets students' diverse dietary needs.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $40,944,425
Program Service Revenue $254,610,000
Investment Income $20,108,449
Other Revenue $7,172,732
TOTAL REVENUE $322,835,606

Expense Breakdown

Grants Paid $48,388,098
Salaries & Benefits $136,016,154
Fundraising Expenses $3,424,092
Program Expenses $248,570,774
Other Expenses $92,914,385
TOTAL EXPENSES $277,318,637

Year-over-Year Comparison

2024 2023 Change
Revenue $322,835,606 $303,386,239 +0.1%
Expenses $277,318,637 $256,436,740 +0.1%
Net Income $45,516,969 $46,949,499 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
24
Independent Members
22
Employees
3178
Volunteers
24

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$1,433,120
Total Directors
25
$1,027,687
Key Employees
1
$509,346
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James D Herbert President 40.00
Officer Director
$814,381 $213,306 $1,027,687
Regan Gallagher Board Chair 5.00
Officer Director
$0 $0 $0
E Story Cleland Landis Board Vice Chair 5.00
Officer Director
$0 $0 $0
Cheri L Walker Treasurer 5.00
Officer Director
$0 $0 $0
Mason Irving III Secretary 5.00
Officer Director
$0 $0 $0
James Brady Board Member 1.00
Director
$0 $0 $0
Todd Cesca Board Member 1.00
Director
$0 $0 $0
Calen B Colby Board Member 1.00
Director
$0 $0 $0
David Engle Board Member 1.00
Director
$0 $0 $0
Fran Girard Board Member 1.00
Director
$0 $0 $0
Suzanne Iovanna Board Member 1.00
Director
$0 $0 $0
Robert Leonard Board Member 1.00
Director
$0 $0 $0
Mark Malone Board Member 1.00
Director
$0 $0 $0
Jean Ginn Marvin Board Member 1.00
Director
$0 $0 $0
Daniel P McCormack Board Member 1.00
Director
$0 $0 $0
Dimitri Michaud Board Member 1.00
Director
$0 $0 $0
Julie Mostov Board Member 1.00
Director
$0 $0 $0
Ford Reiche Board Member 1.00
Director
$0 $0 $0
Richard Roderick Board Member 1.00
Director
$0 $0 $0
Aleister Saunders Board Member 1.00
Director
$0 $0 $0
Justin H Schair Board Member 1.00
Director
$0 $0 $0
Stephen Shannon Board Member 1.00
Director
$0 $0 $0
Kate Snyder Board Member 1.00
Director
$0 $0 $0
Lawrence Wold Board Member 1.00
Director
$0 $0 $0
George M Locarno Past Board Member 1.00
Director
$0 $0 $0
James Irwin SVP for Finance & Admin/CFO 40.00
Officer
$351,352 $54,081 $405,433
Gwendolyn Mahon Provost/SVP for Academic Affairs 40.00
Key Emp
$481,440 $27,906 $509,346
Jane Carriero Dean Osteopathic Med/VP Hlth Affairs 40.00
Highest
$438,354 $46,024 $484,378
Guy DeFeo Sr. Assoc. Dean for Clinical Educ. 40.00
Highest
$289,331 $113,521 $402,852
Nicole Kimmes Dean of College of Dental Medicine 40.00
Highest
$322,260 $48,805 $371,065
Stacey Pierce-Talsma Associate Dean of Academic Affairs 40.00
Highest
$288,111 $35,507 $323,618
Ronald Schneider General Counsel/VP of Legal Affairs 40.00
Highest
$298,664 $9,719 $308,383
Philip Shapiro Former SVP Finance/Assoc. VP Invest. 40.00
$209,416 $16,635 $226,051
Karen Pardue Former Provost/Associate Provost 40.00
$172,875 $42,094 $214,969
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $322,835,606 $277,318,637 $847,931,625 $45,516,969
2024 $303,386,239 $256,436,740 $788,821,790 $46,949,499
2023 $282,092,734 $240,884,585 $727,087,320 $41,208,149
2022 $270,155,659 $228,855,187 $685,643,028 $41,300,472
2021 $272,571,933 $226,354,856 $612,979,426 $46,217,077
2020 $268,322,443 $233,688,721 $559,629,790 $34,633,722
2019 $274,356,045 $235,025,492 $526,610,714 $39,330,553
2018 $267,296,474 $230,981,584 $525,435,244 $36,314,890
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