QUINNIPIAC UNIVERSITY

EIN: 060646701 501(c)(3) Education

HAMDEN, CT

Total Revenue
$658,577,859
Total Expenses
$578,074,454
Total Assets
$2,068,663,957
Net Assets
$1,574,942,036
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1929
Legal Domicile
CT
Principal Officer
MARIE HARDIN
Phone
2035828200
Tax Period
2024-07-01 to 2025-06-30

QUINNIPIAC UNIVERSITY, founded in 1929, is a major nonprofit in the Education sector that reported $658.6M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $578.1M left a modest 12% surplus.

Mission

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 6,500 UNDERGRADUATE AND 2,900 GRADUATE STUDENTS.

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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 $14,696,842
Program Service Revenue $557,588,406
Investment Income $77,158,194
Other Revenue $9,134,417
TOTAL REVENUE $658,577,859

Expense Breakdown

Grants Paid $210,374,717
Salaries & Benefits $204,601,154
Fundraising Expenses $6,027,587
Program Expenses $503,857,558
Other Expenses $163,098,583
TOTAL EXPENSES $578,074,454

Year-over-Year Comparison

2024 2023 Change
Revenue $658,577,859 $595,343,168 +0.1%
Expenses $578,074,454 $537,208,272 +0.1%
Net Income $80,503,405 $58,134,896 +0.4%
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
25
Independent Members
24
Employees
4687
Volunteers
25

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
7
$1,937,052
Total Directors
27
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES SAIA JR CHAIRMAN 5.00
Officer Director
$0 $0 $0
BARBARA M BEEVER SECRETARY 2.00
Officer Director
$0 $0 $0
CARLTON L HIGHSMITH VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
JOHN C ABELLA VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
WILLIAM T PLATT JR VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
BRETT AMENDOLA BOARD MEMBER 2.00
Director
$0 $0 $0
PATRICK CHARMEL BOARD MEMBER 2.00
Director
$0 $0 $0
ALEXANDER CLARK BOARD MEMBER 2.00
Director
$0 $0 $0
ERIK CLEMONS BOARD MEMBER 2.00
Director
$0 $0 $0
ROBERT CONTRI BOARD MEMBER 2.00
Director
$0 $0 $0
JEANNA DOHERTY BOARD MEMBER 2.00
Director
$0 $0 $0
BROOKE GOFF BOARD MEMBER (AS OF 11/24) 2.00
Director
$0 $0 $0
LAWRENCE HAMDAN BOARD MEMBER 2.00
Director
$0 $0 $0
ROBIN HAYES BOARD MEMBER (AS OF 11/24) 2.00
Director
$0 $0 $0
DAVID W KEISER BOARD MEMBER 2.00
Director
$0 $0 $0
JAMES LOREE BOARD MEMBER 2.00
Director
$0 $0 $0
MARYBETH NOONAN BOARD MEMBER 2.00
Director
$0 $0 $0
PETER NOVAK BOARD MEMBER 2.00
Director
$0 $0 $0
LYNNE PANTALENA BOARD MEMBER 2.00
Director
$0 $0 $0
WARING PARTRIDGE BOARD MEMBER 2.00
Director
$0 $0 $0
ROBERT POTTER BOARD MEMBER 2.00
Director
$0 $0 $0
RYAN RIZZO BOARD MEMBER (AS OF 07/24) 2.00
Director
$0 $0 $0
VIKRANT SAWHNEY BOARD MEMBER 2.00
Director
$0 $0 $0
RICHARD SILVER ESQ BOARD MEMBER 2.00
Director
$0 $0 $0
WILLIAM C WELDON BOARD MEMBER 2.00
Director
$0 $0 $0
DEBORAH DYETT DESIR BOARD MEMBER (LEFT 09/24) 2.00
Director
$0 $0 $0
MICHAEL ZAVODSKY BOARD MEMBER (LEFT 09/24) 2.00
Director
$0 $0 $0
JUDY OLIAN PRESIDENT (UNTIL 06/25) 40.00
Officer
$1,253,068 $60,159 $1,313,227
MARK VARHOLAK CFO 40.00
Officer
$566,110 $57,715 $623,825
RAND PECKNOLD MEN'S ICE HOCKEY COACH 40.00
Highest
$737,820 $76,314 $814,134
PHILLIP BOISELLE DEAN OF THE SCHOOL OF MED. 40.00
Highest
$645,229 $17,250 $662,479
DEBRA LIEBOWITZ PROVOST 40.00
Highest
$582,388 $63,698 $646,086
THOMAS PECORA MEN'S BASKETBALL COACH 40.00
Highest
$504,458 $46,719 $551,177
PATRICIA SACCA-FABBRI WOMEN'S BASKETBALL COACH 40.00
Highest
$416,638 $34,500 $451,138
JOHN LAHEY FORMER PRESIDENT EMERITUS 40.00
$224,631 $48,659 $273,290
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 $658,577,859 $578,074,454 $2,068,663,957 $80,503,405
2024 $595,343,168 $537,208,272 $1,981,792,376 $58,134,896
2023 $541,824,099 $500,797,570 $1,889,769,630 $41,026,529
2022 $533,471,085 $491,789,250 $1,727,162,039 $41,681,835
2021 $531,949,834 $486,620,067 $1,807,258,104 $45,329,767
2020 $499,698,237 $468,561,968 $1,589,887,299 $31,136,269
2019 $525,577,539 $473,353,199 $1,573,571,385 $52,224,340
2018 $576,155,570 $463,180,003 $1,547,141,912 $112,975,567
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