Iona University

EIN: 133508093 501(c)(3) Education

NEW ROCHELLE, NY

Total Revenue
$194,178,098
Total Expenses
$198,656,772
Total Assets
$479,837,822
Net Assets
$340,895,835
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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
NY
Principal Officer
DR SEAMUS CAREY
Phone
9146332483
Tax Period
2023-07-01 to 2024-06-30

Iona University, founded in 1940, is a major nonprofit in the Education sector that reported $194.2M in total revenue in fiscal year 2023.

Mission

IONA UNIVERSITY IS A CARING ACADEMIC COMMUNITY, INSPIRED BY THE LEGACY OF BLESSED EDMUND RICE AND THE CHRISTIAN BROTHERS, WHICH EMBODIES OPPORTUNITY, JUSTICE, AND THE LIBERATING POWER OF EDUCATION. IONA UNIVERSITY'S PURPOSE IS TO FOSTER INTELLECTUAL INQUIRY, COMMUNITY ENGAGEMENT AND AN APPRECIATION FOR DIVERSITY. IN THE TRADITION OF AMERICAN CATHOLIC HIGHER EDUCATION, IONA UNIVERSITY COMMITS ITS ENERGIES AND RESOURCES TO THE DEVELOPMENT OF GRADUATES RECOGNIZED FOR THEIR ETHICS, CREATIVITY AND PROBLEM-SOLVING ABILITIES; THEIR INDEPENDENT AND ADAPTIVE THINKING; THEIR JOY IN LIFELONG LEARNING; AND THEIR ENDURING INTEGRATION OF MIND, BODY AND SPIRIT.

Program Service Accomplishments

Program 1
Expenses: $112,722,285 Revenue: $140,589,823

Tuition - FOUNDED BY THE CONGREGATION OF CHRISTIAN BROTHERS IN 1940, IONA UNIVERSITY IS CHARTERED BY THE STATE OF NEW YORK AND FULLY ACCREDITED BY THE FEDERAL DEPARTMENT OF EDUCATION APPROVED...

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Tuition - FOUNDED BY THE CONGREGATION OF CHRISTIAN BROTHERS IN 1940, IONA UNIVERSITY IS CHARTERED BY THE STATE OF NEW YORK AND FULLY ACCREDITED BY THE FEDERAL DEPARTMENT OF EDUCATION APPROVED REGIONAL ACCREDITOR, THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION (MSCHE), TO OFFER CREDIT BEARING COURSEWORK TOWARDS DEGREES AND REGISTERED CERTIFICATES AT THE UNDERGRADUATE AND GRADUATE LEVELS. IN ADDITION TO MSCHE, IONA'S ACADEMIC PROGRAMS HOLD MULTIPLE PROFESSIONAL AND SPECIAL ACCREDITATIONS FROM INDEPENDENT ACCREDITING BODIES INCLUDING THE ACCREDITATION BOARD FOR ENGINEERING AND TECHNOLOGY (ABET); ACCREDITATION COUNCIL FOR OCCUPATIONAL THERAPY EDUCATION (ACOTE); AMERICAN ASSOCIATION FOR MARRIAGE AND FAMILY THERAPY (AAMFT); AMERICAN CHEMICAL SOCIETY (ACS); ASSOCIATION FOR ADVANCING QUALITY IN EDUCATOR PREPARATION (AAQEP); ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS INTERNATIONAL (AACSB); COLLEGE READING AND LEARNING ASSOCIATION (CRLA); COMMISSION ON COLLEGIATE NURSING EDUCATION (CCNE); COUNCIL ON ACADEMIC ACCREDITATION IN AUDIOLOGY AND SPEECH-LANGUAGE PATHOLOGY (CAA); COUNCIL ON SOCIAL WORK EDUCATION (CSWE); AND NATIONAL ASSOCIATION OF SCHOOL PSYCHOLOGISTS (NASP). NOTABLY, THE SCHOOL OF BUSINESS IS ACCREDITED BY AACSB INTERNATIONAL - A HIGHLY ACCLAIMED DISTINCTION AWARDED TO JUST 6% OF BUSINESS SCHOOLS WORLDWIDE. IONA'S MAIN CAMPUS IS LOCATED ON 45 ACRES IN NEW ROCHELLE (WESTCHESTER COUNTY), NEW YORK, 20 MILES NORTH OF MIDTOWN MANHATTAN. IONA ALSO RECENTLY OPENED A NEW CAMPUS IN BRONXVILLE, NEW YORK, WHICH IS HOME TO ITS NEW SCHOOL OF HEALTH SCIENCES. IONA'S STUDENT BODY IS COMPRISED OF APPROXIMATELY 3,400 UNDERGRADUATE STUDENTS AND 600 GRADUATE STUDENTS WITH A WIDE VARIETY OF UNDERGRADUATE AND GRADUATE DEGREES IN THE SCHOOL OF ARTS AND SCIENCE, SCHOOL OF BUSINESS AND SCHOOL OF HEALTH SCIENCES. IN RECENT YEARS, THE IONA COMMUNITY HAS FOCUSED ON ADVANCING STUDENT DISTINCTION, ELEVATING THE IONA EXPERIENCE, ENHANCING ACADEMIC DISTINCTION, GROWING INFRASTRUCTURE, ADVANCING AFFORDABILITY, AND RAISING NECESSARY RESOURCES. MUCH SUCCESS HAS BEEN REALIZED INCLUDING ENHANCED ACADEMIC OFFERINGS AND INTERNATIONAL PROGRAMS, THE LAUNCH OF ACADEMIC CENTERS AND INSTITUTES, RECORD SCHOLARSHIPS AWARDED, GROWTH TO THE ENDOWMENT OF OVER 100%, AND AN INCREASE TO CAMPUS LAND HOLDINGS OF 60%. IONA UNIVERSITY OFFERS A VIBRANT EXPERIENCE FOR STUDENTS WITH STUDENT CLUBS, ORGANIZATIONS, AND GROUPS ON CAMPUS, AND AN NCAA DIVISION I ATHLETICS PROGRAM WITH 24 VARSITY TEAMS. THE SCHOOL OF ARTS AND SCIENCE, SCHOOL OF BUSINESS AND SCHOOL OF HEALTH SCIENCES SUPPORT THE MISSION OF IONA UNIVERSITY THROUGH A COMMITMENT TO FOSTERING ACADEMIC EXCELLENCE AND INTELLECTUAL INQUIRY IN THE LIBERAL ARTS TRADITION. THE SCHOOLS EMBRACE THE VALUES OF A STUDENT-CENTERED INSTITUTION ROOTED IN A RELIGIOUS TRADITION INCLUDING THE PURSUIT OF KNOWLEDGE AND TRUTH; DEVOTION TO INTEGRITY, DIVERSITY, AND FREEDOM OF INQUIRY; OPENNESS TO CHANGE, INNOVATION, AND ENTREPRENEURSHIP; APPRECIATION FOR DATA-INFORMED, OUTCOMES-ORIENTED PRACTICES THAT PROMOTE INTERNAL COLLABORATION AND EXTERNAL COMPETITIVENESS; COMMITMENT TO COMPASSION; TRANSPARENT DECISION-MAKING; AND ACCOUNTABILITY AND DEDICATION TO RESPONSIBLE STEWARDSHIP OF HUMAN, PHYSICAL, FINANCIAL, AND ENVIRONMENTAL RESOURCES. IONA UNIVERSITY HAS NEARLY 38 UNDERGRADUATE DEGREE PROGRAMS OF STUDY, OVER 49 UNDERGRADUATE MINORS, AND 27 GRADUATE PROGRAMS (16 MASTER'S DEGREE PROGRAMS AND 11 ADVANCED CERTIFICATE PROGRAMS) THROUGH THE SCHOOL OF ARTS & SCIENCE, LAPENTA SCHOOL OF BUSINESS, NEWYORK-PRESBYTERIAN IONA SCHOOL OF HEALTH SCIENCES AND HYNES INSTITUTE FOR ENTREPRENEURSHIP & INNOVATION. ON JULY 1, 2022, IONA OFFICIALLY CHANGED ITS STATUS FROM COLLEGE TO UNIVERSITY.

Program 2
Expenses: $40,757,605 Revenue: $5,466,251

STUDENT SERVICES - OTHER ACADEMIC AND STUDENT SUPPORT ACTIVITIES ARE PROVIDED FOR ENROLLED STUDENTS AND IN SUPPORT OF FACULTY SCHOLARSHIP CONSISTENT WITH STANDARDS ESTABLISHED BY THE NEW YORK STATE...

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STUDENT SERVICES - OTHER ACADEMIC AND STUDENT SUPPORT ACTIVITIES ARE PROVIDED FOR ENROLLED STUDENTS AND IN SUPPORT OF FACULTY SCHOLARSHIP CONSISTENT WITH STANDARDS ESTABLISHED BY THE NEW YORK STATE EDUCATION DEPARTMENT, THE COMMISSION OF HIGHER EDUCATION OF THE MIDDLE STATES ASSOCIATION OF SCHOOLS AND COLLEGES AND BEST PRACTICES IN AMERICAN HIGHER EDUCATION. THESE INCLUDE FULLY STAFFED AND OPERATIONAL LIBRARIES, A CAREER DEVELOPMENT CENTER, COUNSELING CENTER, HEALTH SERVICES CENTER, IT SUPPORT CENTER, FACULTY TRAINING CENTER, TUTORING AND ACADEMIC SUPPORT CENTER, CAMPUS MINISTRIES OFFICE, ATHLETICS DEPARTMENT, AND STUDENT DEVELOPMENT OFFICE SERVICING CLUBS, STUDENT GOVERNMENT, STUDENT MEDIA AND STUDENT RECREATION.

Program 3
Expenses: $24,929,612 Revenue: $22,456,101

AUXILIARY ENTERPRISES - IONA UNIVERSITY PROVIDES ANCILLARY AUXILIARY SERVICES TO BOTH ITS STUDENT POPULATION AND ITS EMPLOYEE BASE IN AN EFFORT TO SUPPORT ITS EDUCATIONAL MISSION: 1) RESIDENTIAL...

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AUXILIARY ENTERPRISES - IONA UNIVERSITY PROVIDES ANCILLARY AUXILIARY SERVICES TO BOTH ITS STUDENT POPULATION AND ITS EMPLOYEE BASE IN AN EFFORT TO SUPPORT ITS EDUCATIONAL MISSION: 1) RESIDENTIAL SERVICES - AS PART OF THE STUDENT EXPERIENCE, IONA UNIVERSITY OFFERS ON-CAMPUS RESIDENCE HALL HOUSING AND RELATED SERVICES. THE PRIMARY GOAL OF IONA'S RESIDENTIAL LIFE PROGRAM IS TO PROVIDE A SAFE, SECURE AND COMFORTABLE ENVIRONMENT WHERE ACADEMIC SUCCESS, AS WELL AS THE SOCIAL, EMOTIONAL, SPIRITUAL, PHYSICAL AND CULTURAL DEVELOPMENT OF EACH RESIDENT, IS FACILITATED. 2) BOOKSTORE - THE UNIVERSITY HAS AN ON-CAMPUS BOOKSTORE WHERE STUDENTS CAN PURCHASE TEXTBOOKS, STUDY AIDS, ELECTRONICS, SOFTWARE, STATIONERY AND RELATED HARD GOODS. 3) FOOD SERVICE/CAFETERIA - THE UNIVERSITY HAS AN ON-CAMPUS CAFETERIA THAT IS COMMITTED TO PROVIDING QUALITY AND NUTRITIOUS FOOD WITH EXCEPTIONAL SERVICE. RESIDENT STUDENTS AND COMMUTERS MAY PARTICIPATE IN THE FULL MEAL PLAN OFFERED AT IONA UNIVERSITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $22,691,699
Program Service Revenue $164,244,011
Investment Income $822,304
Other Revenue $6,420,084
TOTAL REVENUE $194,178,098

Expense Breakdown

Grants Paid $70,517,209
Salaries & Benefits $75,188,406
Fundraising Expenses $2,574,889
Program Expenses $178,409,502
Other Expenses $52,927,157
TOTAL EXPENSES $198,656,772

Year-over-Year Comparison

2023 2022 Change
Revenue $194,178,098 $183,290,865 +0.1%
Expenses $198,656,772 $184,921,114 +0.1%
Net Income $-4,478,674 $-1,630,249 +1.7%
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
32
Independent Members
31
Employees
1697
Volunteers
33

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
$2,181,082
Total Directors
32
$922,264
Key Employees
4
$1,155,284
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR SEAMUS CAREY PRESIDENT 65.0
Officer Director
$873,550 $48,714 $922,264
TOBIN ANDERSON HEAD COACH - MENS BASKETBALL 50.0
Highest
$607,057 $33,015 $640,072
TRICIA MULLIGAN PHD PROVOST&SVP, ACADEMIC AFFAIRS 50.0
Officer
$322,787 $62,616 $385,403
KAVITA DHANWADA Dean OF THE NY-PRESBYTERIAN 50.0
Key Emp
$316,555 $34,183 $350,738
KEVIN O'SULLIVAN SVP, ENROLLMENT&STUDENT AFFAIR 50.0
Highest
$306,968 $36,688 $343,656
MICHAEL SMERIGLIO VP FACILITIES AND CAMPUS OPER. 50.0
Key Emp
$320,869 $0 $320,869
NATHANIEL J KANE SVP, FINANCE & ADMINISTRATION 50.0
Officer
$295,662 $23,357 $319,019
TIMOTHY CLUESS ADVISOR TO THE PRES.&ATHLETICS 50.0
Officer
$261,965 $27,939 $289,904
Sandy A Curko General Counsel 50.0
Highest
$263,683 $22,767 $286,450
MARYELLEN CALLAGHAN SVP, STRATEGIC INIT&BOARD SEC 50.0
Officer
$240,535 $23,957 $264,492
Laura Doherty SVP, ADVN & EXTERNAL AFFAIRS 50.0
Key Emp
$241,167 $21,270 $262,437
Matthew Glovaski DIRECTOR OF ATHLETICS 50.0
Highest
$201,486 $52,546 $254,032
Joseph Stabile DEAN SCHOOL OF ARTS & SCIENCE 50.0
Highest
$219,967 $23,270 $243,237
Mary Clare Reilley SVP, Marketing & Communication 50.0
Key Emp
$206,710 $14,530 $221,240
MICHAEL HEGARTY BOARD CHAIR 2.0
Officer Director
$0 $0 $0
JAMES P HYNES BOARD VICE CHAIR 2.0
Officer Director
$0 $0 $0
KAREN ABBRUZZESE TRUSTEE 1.0
Director
$0 $0 $0
LUCILLE BOOTMAN TRUSTEE 1.0
Director
$0 $0 $0
DAVID P BROWN TRUSTEE 1.0
Director
$0 $0 $0
RONALD M DEFEO TRUSTEE 1.0
Director
$0 $0 $0
MICHAEL DOHENY TRUSTEE 1.0
Director
$0 $0 $0
ANDREW J DOLCE TRUSTEE 1.0
Director
$0 $0 $0
DAN DOYLE TRUSTEE 1.0
Director
$0 $0 $0
ANITA IACO TRUSTEE 1.0
Director
$0 $0 $0
EILEEN IVERS TRUSTEE 1.0
Director
$0 $0 $0
JOHN C JUDGE TRUSTEE 1.0
Director
$0 $0 $0
AL KELLY TRUSTEE 1.0
Director
$0 $0 $0
ROBERT V LAPENTA TRUSTEE 1.0
Director
$0 $0 $0
BARTLEY F LIVOLSI TRUSTEE 1.0
Director
$0 $0 $0
PHILLIP N MAISANO TRUSTEE 1.0
Director
$0 $0 $0
CATHY MCCABE TRUSTEE 1.0
Director
$0 $0 $0
ED MCNALLY TRUSTEE 1.0
Director
$0 $0 $0
BOB MEHMEL TRUSTEE 1.0
Director
$0 $0 $0
JOSEPH M MURPHY JR TRUSTEE 1.0
Director
$0 $0 $0
C PATRICK O'DONNELL JR TRUSTEE 1.0
Director
$0 $0 $0
STEPHEN V REITANO TRUSTEE 1.0
Director
$0 $0 $0
PETER G RIGUARDI TRUSTEE 1.0
Director
$0 $0 $0
DR ERIC ROBINSON TRUSTEE 1.0
Director
$0 $0 $0
ARMANDO RODRIGUEZ JR TRUSTEE 1.0
Director
$0 $0 $0
MATTHEW SCHNAARS TRUSTEE 1.0
Director
$0 $0 $0
KAREN SEITZ TRUSTEE 1.0
Director
$0 $0 $0
MARGARET TIMONEY TRUSTEE 1.0
Director
$0 $0 $0
RAYMOND J VERCRUYSSEE CFC TRUSTEE 1.0
Director
$0 $0 $0
BRIAN M WALSH CFC TRUSTEE 1.0
Director
$0 $0 $0
LAWRENCE I WILLS TRUSTEE 1.0
Director
$0 $0 $0
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 $194,178,098 $198,656,772 $479,837,822 $-4,478,674
2023 $183,290,865 $184,921,114 $450,915,510 $-1,630,249
2022 $177,877,196 $176,036,683 $443,220,124 $1,840,513
2021 $164,703,199 $162,970,593 $425,606,322 $1,732,606
2020 $158,822,357 $161,328,353 $387,967,528 $-2,505,996
2019 $168,780,145 $163,786,398 $378,834,737 $4,993,747
2018 $165,838,955 $161,718,971 $365,444,110 $4,119,984
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