PROVIDENCE COLLEGE

EIN: 050258932 501(c)(3) Education

PROVIDENCE, RI

Total Revenue
$423,738,758
Total Expenses
$409,374,731
Total Assets
$1,128,884,296
Net Assets
$768,037,545
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Financial Trends

Organization Details

Formation Year
1917
Legal Domicile
RI
Principal Officer
REV KENNETH R SICARD O
Phone
4018651000
Tax Period
2024-07-01 to 2025-06-30

PROVIDENCE COLLEGE, founded in 1917, is a major nonprofit in the Education sector that reported $423.7M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $409.4M left a modest 3% surplus.

Mission

ORGANIZATION'S MISSION PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. HISTORY PROVIDENCE COLLEGE WAS FOUNDED IN 1917 BY THE DOMINICAN FRIARS AT THE INVITATION OF BISHOP HARKINS TO PROVIDE A CATHOLIC EDUCATION IN THE ARTS AND SCIENCES. FAITH AND REASON PROVIDENCE COLLEGE IS CONFIDENT IN THE APPEAL OF REASON, BELIEVES THAT HUMAN BEINGS ARE DISPOSED TO KNOW THE TRUTH, AND TRUSTS IN THE POWER OF GRACE TO ENLIGHTEN MINDS, OPEN HEARTS, AND TRANSFORM LIVES. PROVIDENCE COLLEGE MAINTAINS THAT THE PURSUIT OF TRUTH HAS INTRINSIC VALUE, THAT FAITH AND REASON ARE COMPATIBLE AND COMPLEMENTARY MEANS TO ITS DISCOVERY, AND THAT THE SEARCH FOR TRUTH IS THE BASIS FOR DIALOGUE WITH OTHERS AND CRITICAL ENGAGEMENT WITH THE WORLD. ACADEMIC EXCELLENCE PROVIDENCE COLLEGE IS COMMITTED TO ACADEMIC EXCELLENCE, AND HOLDS ITSELF TO THE HIGHEST STANDARDS IN TEACHING, LEARNING, AND SCHOLARSHIP. ITS CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. COMMUNITY AND DIVERSITY PROVIDENCE COLLEGE SEEKS TO REFLECT THE RICH DIVERSITY OF THE HUMAN FAMILY. FOLLOWING THE EXAMPLE OF ST. DOMINIC, WHO EXTENDED A LOVING EMBRACE TO ALL, IT WELCOMES QUALIFIED MEN AND WOMEN OF EVERY BACKGROUND AND AFFIRMS THE GOD-GIVEN DIGNITY, FREEDOM, AND EQUALITY OF EACH PERSON. PROVIDENCE COLLEGE PROMOTES THE COMMON GOOD, THE HUMAN FLOURISHING OF EACH MEMBER OF THE CAMPUS COMMUNITY, AND SERVICE OF NEIGHBOURS NEAR AND FAR. VERITAS AND PROVIDENCE PROVIDENCE COLLEGE BRINGS THE EIGHT-HUNDRED-YEAR-OLD DOMINICAN IDEAL OF VERITAS TO THE ISSUES AND CHALLENGES OF TODAY. IT SEEKS TO SHARE THE FRUITS OF CONTEMPLATION IN AN INCREASINGLY GLOBAL AND DIVERSE SOCIETY, AND TO PRAISE AND BLESS ALL THAT IS GOOD AND VITAL IN HUMAN ENDEAVORS. PROVIDENCE COLLEGE SUPPORTS THE DOMINICAN MISSION OF PREACHING THE GOSPEL OF JESUS CHRIST TO A NEW GENERATION OF STUDENTS AND HELPING THEM DISCOVER GOD'S PROVIDENCE IN THEIR LIVES.

Program Service Accomplishments

Program 1
Expenses: $338,334,838 Revenue: $372,509,443

PROVIDENCE COLLEGE OFFERS UNDERGRADUATE DEGREES, GRADUATE DEGREES, AND CERTIFICATE PROGRAMS. COMMITTED TO ACADEMIC EXCELLENCE, THE COLLEGE'S CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN...

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PROVIDENCE COLLEGE OFFERS UNDERGRADUATE DEGREES, GRADUATE DEGREES, AND CERTIFICATE PROGRAMS. COMMITTED TO ACADEMIC EXCELLENCE, THE COLLEGE'S CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTANCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. THE COLLEGE OFFERS APPROXIMATELY 55 MAJOR FIELDS OF STUDY. THE STUDENT/FACULTY RATIO IS 11:1 AND THE AVERAGE CLASS SIZE IS 20. THE COLLEGE IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND THE AACSB INTERNATIONAL, AMONG OTHER ACCREDITING BODIES. APPROXIMATELY 4,950 STUDENTS WERE ENROLLED IN THE UNDERGRADUATE, GRADUATE AND CONTINUING EDUCATION PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $35,791,921
Program Service Revenue $370,543,804
Investment Income $12,687,704
Other Revenue $4,715,329
TOTAL REVENUE $423,738,758

Expense Breakdown

Grants Paid $109,942,688
Salaries & Benefits $152,189,544
Fundraising Expenses $7,514,156
Program Expenses $338,334,838
Other Expenses $147,242,499
TOTAL EXPENSES $409,374,731

Year-over-Year Comparison

2024 2023 Change
Revenue $423,738,758 $383,926,251 +0.1%
Expenses $409,374,731 $377,862,190 +0.1%
Net Income $14,364,027 $6,064,061 +1.4%
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
41
Independent Members
37
Employees
3006
Volunteers
45

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
16
$5,272,312
Total Directors
42
$652,300
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANN MANCHESTER-MOLAK EVP & TRUSTEE (THRU 1/25) 40.00
Officer Director
$491,272 $60,307 $551,579
REV KENNETH R SICARD OP PRESIDENT & TRUSTEE 40.00
Officer Director
$0 $63,959 $63,959
REV THOMAS MORE GARRETT OP EVP & COO (BEG 1/25) 40.00
Officer Director
$0 $36,762 $36,762
REV FRANCIS BELANGER TRUSTEE 2.00
Director
$0 $0 $0
DUANE M BOULIGNY BOARD SECRETARY 3.00
Officer Director
$0 $0 $0
JOSEPH M CALABRIA JR TRUSTEE 2.00
Director
$0 $0 $0
KENNETH D CANESTRARI TRUSTEE 2.00
Director
$0 $0 $0
JOHN A CERVIONE TRUSTEE 2.00
Director
$0 $0 $0
JAMES M CHIRICO JR TRUSTEE 2.00
Director
$0 $0 $0
GREGORY S CHRISTENSON TRUSTEE 2.00
Director
$0 $0 $0
ROBERT J CLARK TRUSTEE 2.00
Director
$0 $0 $0
RUDOLPH CLINE-THOMAS TRUSTEE 2.00
Director
$0 $0 $0
WILLIAM F CONCANNON TRUSTEE 2.00
Director
$0 $0 $0
MAUREEN DAVENPORT CORCORAN TRUSTEE 2.00
Director
$0 $0 $0
THOMAS P CORCORAN III TRUSTEE (BEG 7/24) 2.00
Director
$0 $0 $0
JOHN P DAWLEY JR TRUSTEE 2.00
Director
$0 $0 $0
COLLEEN M DUFFY TRUSTEE 2.00
Director
$0 $0 $0
SUSAN M ESPER BOARD V CHAIR/AUDIT COMM CHAIR 3.00
Officer Director
$0 $0 $0
HENRY C FOLEY TRUSTEE 2.00
Director
$0 $0 $0
STEPHEN GALLUCCI TRUSTEE (BEG 7/24) 2.00
Director
$0 $0 $0
MOST REV RICHARD HENNING DDSTD TRUSTEE 2.00
Director
$0 $0 $0
JOHN J HOULIHAN TRUSTEE 2.00
Director
$0 $0 $0
DENNIS J LANGWELL TRUSTEE 2.00
Director
$0 $0 $0
TERESA A LAVOIE TRUSTEE 2.00
Director
$0 $0 $0
MEGHAN C LYON TRUSTEE 2.00
Director
$0 $0 $0
MARTA V MARTINEZ TRUSTEE 2.00
Director
$0 $0 $0
REV MICHAEL A MASCARI TRUSTEE 2.00
Director
$0 $0 $0
JOHN R MCCARTHY TRUSTEE 2.00
Director
$0 $0 $0
VERY REV ALLEN MORAN TRUSTEE 2.00
Director
$0 $0 $0
ANDRE E OWENS ESQ TRUSTEE 2.00
Director
$0 $0 $0
VERY REV THOMAS PETRI OP STD TRUSTEE 2.00
Director
$0 $0 $0
KEVIN P QUIRK TRUSTEE 2.00
Director
$0 $0 $0
CHRISTOPHER K REILLY BOARD CHAIR 4.00
Officer Director
$0 $0 $0
VERY REV JORDAN SCHMIDT OP PHD TRUSTEE (BEG 7/24) 2.00
Director
$0 $0 $0
JILL M SHAH TRUSTEE (BEG 7/24) 2.00
Director
$0 $0 $0
MEGAN C SMITH TRUSTEE 2.00
Director
$0 $0 $0
SHANNON SULLIVAN TRUSTEE (BEG 7/24) 2.00
Director
$0 $0 $0
MICHAEL J TUCKER TRUSTEE 2.00
Director
$0 $0 $0
CHRISTOPHER F VIRGULAK TRUSTEE 2.00
Director
$0 $0 $0
MARK T VOLL TRUSTEE 2.00
Director
$0 $0 $0
CHRISTOPHER J WALKER TRUSTEE 2.00
Director
$0 $0 $0
MONICA DENISE WOMACK TRUSTEE 2.00
Director
$0 $0 $0
STEVEN NAPOLILLO VP & DIR OF ATHLETICS 40.00
Officer
$660,165 $63,879 $724,044
GREGORY WALDRON SR VP INSTIT. ADVANCEMENT 40.00
Officer
$553,479 $70,514 $623,993
STEVEN SEARS SR. VP STUDENT AFFAIRS 40.00
Officer
$461,258 $126,607 $587,865
JOHN SWEENEY SR VP FINANCE/CFO 40.00
Officer
$513,174 $62,814 $575,988
KYLE MCINNIS SR. ADVISOR TO PRES (THRU 12/24) 40.00
Officer
$466,643 $67,269 $533,912
SEAN REID SR VP AC. AFF./PROV (THRU 8/24) 40.00
Officer
$442,019 $69,676 $511,695
CHRISTOPHER NERONHA VP & GEN COUNSEL 40.00
Officer
$437,217 $47,903 $485,120
QUINCY BEVELY VP INSTIT. DEI 40.00
Officer
$271,514 $59,202 $330,716
CHRISTINE ROBERTI VP ADMIN & BOARD REL (BEG 1/25) 40.00
Officer
$184,313 $39,806 $224,119
REV KEVIN D ROBB OP TREASURER 40.00
Officer
$0 $22,560 $22,560
KIM ENGLISH MENS BBALL COACH 40.00
Highest
$2,970,411 $45,601 $3,016,012
NATHAN LEAMAN MENS HOCKEY COACH 40.00
Highest
$719,635 $67,781 $787,416
ERIN BATTH WOMEN'S BASKETBALL COACH 40.00
Highest
$512,824 $46,301 $559,125
SYLVIA MAXFIELD DEAN SCHOOL OF BUSINESS 40.00
Highest
$429,577 $61,234 $490,811
NATE TOMLINSON ASST MEN'S BBALL COACH (THRU 6/25) 40.00
Highest
$386,106 $56,760 $442,866
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 $423,738,758 $409,374,731 $1,128,884,296 $14,364,027
2024 No data No data No data No data
2023 $372,863,038 $349,671,951 $1,044,258,281 $23,191,087
2022 $364,064,066 $331,734,828 $896,934,054 $32,329,238
2021 $327,751,899 $301,852,279 $914,914,351 $25,899,620
2020 $299,300,711 $295,190,666 $748,292,244 $4,110,045
2019 $316,611,289 $294,015,376 $753,499,934 $22,595,913
2018 $304,863,629 $276,435,334 $745,242,649 $28,428,295
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