Husson University

EIN: 010271210 501(c)(3) Education

Bangor, ME

Total Revenue
$81,957,246
Total Expenses
$80,527,066
Total Assets
$149,562,202
Net Assets
$110,604,133
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1898
Legal Domicile
ME
Principal Officer
Robert Clark
Phone
2079417000
Tax Period
2022-07-01 to 2023-06-30

Husson University, founded in 1898, is a mid-sized nonprofit in the Education sector that reported $82.0M in total revenue in fiscal year 2022. Revenue decreased 5% compared to the prior year.

Mission

Husson University inspires and prepares students for professional careers in current and emerging fields within the context of an education informed by the sciences and humanities.

Program Service Accomplishments

Program 1
Expenses: $62,493,500 Revenue: $55,833,732

For more than 125 years, Husson University has prepared future leaders to address the challenges of tomorrow through innovative undergraduate and graduate degrees.With a commitment to delivering...

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For more than 125 years, Husson University has prepared future leaders to address the challenges of tomorrow through innovative undergraduate and graduate degrees.With a commitment to delivering affordable classroom, online and experiential learning opportunities, Husson University has come to represent superior value in higher education. Our Bangor campus provides advanced knowledge in business, health, pharmacy, science and humanities, as well as communication. In addition, Husson University has a robust online learning program.Continued on Schedule O According to a recent analysis of tuition and fees by U.S. News & World Report, Husson University is one of the most affordable private colleges in New England. Education at Husson University produces results. According to the most recent survey data, 96 percent of Husson University graduates are employed or enrolled in graduate school within one year of completing their degrees.Husson University is regionally accredited by the New England Council of Higher Education (NECHE). Regional accreditation applies to all programs. The University is also accredited by the International Accreditation Council for Business Education (IACBE), the Commission on Collegiate Nursing Education (CCNE), the Accreditation Council for Occupational Therapy (ACOTE), the Commission on Accreditation in Physical Therapy Education (CAPTE), the Accreditation Council for Pharmacy Education (ACPE), and the Council for Accreditation of Counseling and Related Educational Program (CACREP), with approval by the Maine Department of Education and National Board for Certified Counselors for its Teacher Education and School Counseling programs respectively.

Program 2
Expenses: $9,628,768 Revenue: $13,820,207

Auxiliary ServicesThe Auxiliary Services department provides a variety of support services designed to enhance the Husson educational and student experience for the University. Serving a diverse set...

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Auxiliary ServicesThe Auxiliary Services department provides a variety of support services designed to enhance the Husson educational and student experience for the University. Serving a diverse set of stakeholders, Auxiliary services works to ensuring the continued success of the University in a fiscally responsible manner while reducing risk for the institution.Continued on Schedule OServices provided by this department include dining, maintenance, custodial, environmental health, safety, security, grounds keeping, the bookstore, and capital facility project management.Dining services seeks to provide a variety of wholesome, nutritious foods that meet the diverse needs of the Husson University community.Husson offers a variety of housing options for over 1,000 students which includes Hart Hall, Carlisle Hall, Bell Hall, the Darling Learning Center, and the Townhouses. The Living Learning Center can house up to 240 students. Each suite in the Darling Learning Center features suite-style living for four students. Three townhouse buildings have room for 72 students. Each townhouse has six two-story fully furnished apartments. The campus also includes the Dyke Center for Family Business, Gracie Theatre, Newman Gymnasium, Swan Center, Wellness Learning Center, the Webber Pool, as well as numerous athletic fields.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $11,506,045
Program Service Revenue $69,653,939
Investment Income $338,264
Other Revenue $458,998
TOTAL REVENUE $81,957,246

Expense Breakdown

Grants Paid $19,430,548
Salaries & Benefits $37,356,336
Fundraising Expenses $1,357,420
Program Expenses $72,122,268
Other Expenses $23,740,182
TOTAL EXPENSES $80,527,066

Year-over-Year Comparison

2022 2021 Change
Revenue $81,957,246 $86,528,834 -0.1%
Expenses $80,527,066 $81,846,145 0.0%
Net Income $1,430,180 $4,682,689 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
30
Independent Members
29
Employees
1379
Volunteers
29

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
4
$571,669
Total Directors
33
$80,996
Key Employees
1
$223,486
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Daniel R Hutchins Chair 8.00
Officer Director
$0 $0 $0
Philip E Harriman Vice Chair 8.00
Officer Director
$0 $0 $0
Albert W Allen Trustee 4.00
Director
$0 $0 $0
Earl C Black Trustee 4.00
Director
$0 $0 $0
John P Boucher Trustee 4.00
Director
$0 $0 $0
Brock R Bradford Trustee 4.00
Director
$0 $0 $0
Susan A Carlisle Trustee 4.00
Director
$0 $0 $0
Daniel B Coffey Trustee 4.00
Director
$0 $0 $0
Edward O Darling Trustee 4.00
Director
$0 $0 $0
Kris A Doody Trustee 4.00
Director
$0 $0 $0
Jaclyn Fish Trustee 4.00
Director
$0 $0 $0
Arthur D Fuller Trustee 4.00
Director
$0 $0 $0
Ross Y Furman Trustee 4.00
Director
$0 $0 $0
Kenneth A Hews Trustee 4.00
Director
$0 $0 $0
Deborah Carey Johnson Trustee 4.00
Director
$0 $0 $0
Bradley Libby Trustee 4.00
Director
$0 $0 $0
Mary Prybylo Trustee 4.00
Director
$0 $0 $0
John M Rohman Trustee 4.00
Director
$0 $0 $0
Robert J Ronan Trustee 4.00
Director
$0 $0 $0
W Tom Sawyer Jr Trustee 4.00
Director
$0 $0 $0
Dr Irving Schneider Trustee 4.00
Director
$0 $0 $0
Will Taylor Trustee 4.00
Director
$0 $0 $0
Kelli L Theriault Hutchins Trustee 4.00
Director
$0 $0 $0
Richard C Trott Jr Trustee 4.00
Director
$0 $0 $0
Randy L Wadleigh Trustee 4.00
Director
$0 $0 $0
Ryan Wheelock Student Trustee 4.00
Director
$0 $0 $0
Cassandra White Trustee 4.00
Director
$0 $0 $0
Tracey L Whitten Trustee 4.00
Director
$0 $0 $0
Michael E Williamson Trustee 4.00
Director
$0 $0 $0
Michael Kamorski EdD Faculty Trustee 40.00
Director
$76,995 $4,001 $80,996
Joseph H Cyr Past Trustee 4.00
Director
$0 $0 $0
Dr Ruth B Purtilo Past Trustee 4.00
Director
$0 $0 $0
Betsy M Webb Past Trustee 4.00
Director
$0 $0 $0
R Thomas Welch VP Finance & Admin/Treasurer 40.00
Officer
$143,445 $21,313 $164,758
Dr Robert A Clark President 40.00
Officer
$351,424 $55,487 $406,911
Lynne Coy-Ogan Provost 40.00
Key Emp
$210,901 $12,585 $223,486
James Nash Dean of Health & Pharmacy 40.00
Highest
$216,141 $5,066 $221,207
Philip Taylor Dean of Science & Humanities 40.00
Highest
$188,798 $17,096 $205,894
William J Lindblad Professor of Pharmocology 40.00
Highest
$151,665 $18,831 $170,496
Sarah C Robinson VP of Advancement 40.00
Highest
$160,365 $25,922 $186,287
Marie E Hankinson Dean College of Business & NESCOM 40.00
Highest
$175,982 $18,615 $194,597
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 No data No data No data No data
2024 No data No data No data No data
2023 $81,957,246 $80,527,066 $149,562,202 $1,430,180
2022 $86,528,834 $81,846,145 $150,282,751 $4,682,689
2021 $80,358,299 $73,598,070 $155,415,813 $6,760,229
2020 $81,813,768 $72,622,401 $142,213,765 $9,191,367
2019 $73,564,487 $71,669,096 $128,036,499 $1,895,391
2018 $70,889,649 $67,465,770 $124,918,770 $3,423,879
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