Saint Elizabeth University

EIN: 221529785 501(c)(3) Education

Morristown, NJ

Total Revenue
$40,971,752
Total Expenses
$43,938,875
Total Assets
$67,257,639
Net Assets
$38,211,091
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Financial Trends

Organization Details

Formation Year
1900
Legal Domicile
NJ
Phone
9732904000
Tax Period
2023-07-01 to 2024-06-30

Saint Elizabeth University, founded in 1900, is a mid-sized nonprofit in the Education sector that reported $41.0M in total revenue in fiscal year 2023.

Mission

The mission of the Saint Elizabeth University, sponsored by the Sisters of Charity, is to be a community of learning in the Catholic liberal arts tradition for students of diverse ages, backgrounds, and cultures. Through the vision and core values of Elizabeth Ann Seton, Vincent DePaul, and Louise De Marillac and rooted in gospel values and in Catholic social teaching, the Saint Elizabeth University affirms its solidarity with the poor and its commitment in service to the community.

Program Service Accomplishments

Program 1
Expenses: $35,065,219 Revenue: $33,273,355

Saint Elizabeth University, a not-for-profit institution of higher education, is a university in the catholic, liberal arts tradition. Founded as a liberal arts college for women in 1899 by The...

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Saint Elizabeth University, a not-for-profit institution of higher education, is a university in the catholic, liberal arts tradition. Founded as a liberal arts college for women in 1899 by The Sisters of Charity of Saint Elizabeth, the college was one of the first catholic colleges in the United States to award degrees to women. The college became incorporated under New Jersey state law in May 1900 and granted its first baccalaureate degrees in June 1903. Since then, the college has steadily developed and is now a co-educational institution classified among "Master's Colleges & Universities: Medium Programs" in the Carnegie System. The college became Saint Elizabeth University on July 1, 2020. The University offers 28 baccalaureate degree programs, 17 master's degree programs, 2 doctoral programs, and a variety of professional certifications and certificates.

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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 $4,782,177
Program Service Revenue $32,827,989
Investment Income $2,288,096
Other Revenue $1,073,490
TOTAL REVENUE $40,971,752

Expense Breakdown

Grants Paid $10,318,700
Salaries & Benefits $15,652,234
Fundraising Expenses $939,512
Program Expenses $35,065,219
Other Expenses $17,937,937
TOTAL EXPENSES $43,938,875

Year-over-Year Comparison

2023 2022 Change
Revenue $40,971,752 $40,619,565 +0.0%
Expenses $43,938,875 $43,572,263 +0.0%
Net Income $-2,967,123 $-2,952,698 +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
22
Independent Members
21
Employees
638
Volunteers
21

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
3
$556,752
Total Directors
22
$356,594
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Gary Crosby President and Treasurer 40.0
Officer Director
$300,940 $55,654 $356,594
Michael J McGovern SEU Board of Trustees Chair 1.0
Officer Director
$0 $0 $0
Craig Lathrop Trustee 1.0
Director
$0 $0 $0
David M Daly Trustee 1.0
Director
$0 $0 $0
Donna B McNamara Trustee 1.0
Director
$0 $0 $0
Father Robert Meyer Trustee 1.0
Director
$0 $0 $0
Gailon McGowen Trustee 1.0
Director
$0 $0 $0
Irena Moore Trustee 1.0
Director
$0 $0 $0
Laurence Fulton Trustee 1.0
Director
$0 $0 $0
Lois Mancuso Trustee 1.0
Director
$0 $0 $0
Marc Philippe Drouet Trustee 1.0
Director
$0 $0 $0
Marcia Y Cantarella Trustee 1.0
Director
$0 $0 $0
Nikki Sumpter Trustee 1.0
Director
$0 $0 $0
Perry Jones Trustee 1.0
Director
$0 $0 $0
Rachelle Binn Trustee 1.0
Director
$0 $0 $0
Raymond G Kunz Trustee 1.0
Director
$0 $0 $0
Reverend Alton Craig Dunn Trustee 1.0
Director
$0 $0 $0
Scott Leighty Trustee 1.0
Director
$0 $0 $0
Sister Cecilia McManus SC Trustee 1.0
Director
$0 $0 $0
Sister Maureen Dunne Trustee 1.0
Director
$0 $0 $0
Sister Patricia A Mennor SC Trustee 1.0
Director
$0 $0 $0
Sook May Ong Trustee 1.0
Director
$0 $0 $0
Aaron Aska Chief Operating and Finance Officer 40.0
Officer
$200,129 $29 $200,158
Anne Bartlett VP Academic Affairs 40.0
Highest
$187,167 $30,258 $217,425
Jeffrey Gutkin Chief Information & Innovation Officer 40.0
Highest
$149,347 $3,875 $153,222
Medea Valdez Physician Assistant Program Director 40.0
Highest
$116,607 $8,837 $125,444
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
2024 $40,971,752 $43,938,875 $67,257,639 $-2,967,123
2023 $40,619,565 $43,572,263 $68,915,503 $-2,952,698
2022 $45,508,432 $44,012,680 $71,941,705 $1,495,752
2021 $41,908,797 $38,777,210 $73,861,677 $3,131,587
2019 $37,497,333 $39,109,556 $68,829,413 $-1,612,223
2018 $46,645,613 $37,704,416 $68,788,919 $8,941,197
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