CARLOW UNIVERSITY

EIN: 250965438 501(c)(3) Education

PITTSBURGH, PA

Total Revenue
$76,145,615
Total Expenses
$81,752,309
Total Assets
$121,909,309
Net Assets
$76,338,252
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Financial Trends

Organization Details

Formation Year
1929
Legal Domicile
PA
Principal Officer
DR KATHY HUMPHREY
Phone
4125786000
Tax Period
2023-07-01 to 2024-06-30

CARLOW UNIVERSITY, founded in 1929, is a mid-sized nonprofit in the Education sector that reported $76.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

CARLOW UNIVERSITY, ROOTED IN ITS CATHOLIC IDENTITY AND EMBODYING THE HERITAGE AND VALUES OF THE SISTERS OF MERCY, OFFERS TRANSFORMATIONAL EDUCATIONAL OPPORTUNITIES FOR A DIVERSE COMMUNITY OF LEARNERS AND EMPOWERS THEM TO EXCEL IN THEIR CHOSEN WORK AS COMPASSIONATE, RESPONSIBLE LEADERS IN THE CREATION OF A JUST AND MERCIFUL WORLD.

Program Service Accomplishments

Program 1
Expenses: $69,361,346 Revenue: $64,545,401

AT CARLOW UNIVERSITY, WE STRIVE TO CREATE AN EXPERIENCE THAT IS NOT ONLY LIFE-CHANGING, BUT WORLD-CHANGING. CARLOW GRADUATES ARE PREPARED TO BE PIONEERS IN WORKFORCE DEVELOPMENT, HEALTHCARE...

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AT CARLOW UNIVERSITY, WE STRIVE TO CREATE AN EXPERIENCE THAT IS NOT ONLY LIFE-CHANGING, BUT WORLD-CHANGING. CARLOW GRADUATES ARE PREPARED TO BE PIONEERS IN WORKFORCE DEVELOPMENT, HEALTHCARE, EDUCATION, BUSINESS, THE ARTS, AND MORE. THEY ARE PART OF A NEARLY ONE HUNDRED-YEAR TRADITION OF ETHICAL LEADERS WITH THE EMPATHY AND SPIRIT TO CREATE MEANINGFUL SOCIETAL CHANGE. ROOTED IN UNITY AND LED BY COMPASSION, WE ARE REDEFINING WHAT A LEADER LOOKS LIKE-AND IT LOOKS LIKE A CARLOW GRADUATE. SEE CONTINUATION ON SCHEDULE O.HERE, OUR WORLD-CLASS FACULTY HELPS STUDENTS GROW INTO HIGH-ACHIEVING, COMPASSIONATE LEADERS IN THEIR RESPECTIVE FIELDS. OUR STUDENTS ARE SHAPED INTELLECTUALLY, SOCIALLY, AND SPIRITUALLY THROUGH A SERVICE-CENTERED BRAND OF EDUCATION, PREPARING THEM TO ETHICALLY PROSPER IN OUR EVER-CHANGING WORLD. CARLOW UNIVERSITY REMAINS DEDICATED TO SUPPORTING AND INCREASING ACCESS TO HIGHER EDUCATION. FOR THE 2023-24 ACADEMIC YEAR, 41% OF CARLOW'S UNDERGRADUATE STUDENTS ARE PELL GRANT RECIPIENTS, AND 31% IDENTIFY AS STUDENTS OF COLOR. OUR STUDENT BODY CONTINUES TO REFLECT THE UNIVERSITY'S COMMITMENT TO EDUCATING STUDENTS OF ALL AGES AND BACKGROUNDS. OUR OLDEST STUDENT THIS YEAR IS 72. THE SUCCESS OF CARLOW STUDENTS IS EVIDENT IN THEIR POST-GRADUATION ACHIEVEMENTS. AMONG GRADUATES FROM THE 2022-23 ACADEMIC YEAR, WE HAVE AN IMPRESSIVE 89% KNOWLEDGE RATE. OF THOSE SEEKING EMPLOYMENT, 95% OF BACHELOR'S DEGREE RECIPIENTS, 99% OF MASTER'S GRADUATES, AND 100% OF DOCTORAL GRADUATES SECURED POSITIVE PROFESSIONAL PLACEMENTS. ADDITIONALLY, 97% OF BACHELOR'S GRADUATES PURSUING FURTHER EDUCATION AND 100% OF MASTER'S GRADUATES CONTINUING THEIR STUDIES REPORTED SUCCESSFUL TRANSITIONS. THESE STRONG OUTCOMES HIGHLIGHT THE EFFECTIVENESS OF CARLOW'S ACADEMIC PROGRAMS AND THE UNIVERSITY'S DEDICATION TO PREPARING GRADUATES FOR MEANINGFUL CAREERS AND ADVANCED STUDY. CARLOW UNIVERSITY RANKED STRONGLY IN THE U.S. NEWS AND WORLD REPORT LIST OF TOP PERFORMERS ON SOCIAL MOBILITY FOR 2024. CARLOW NOW RANKS #23 IN THE CATEGORY, MAKING IT THE HIGHEST-RANKING INSTITUTION IN THE PITTSBURGH REGION. WHETHER THROUGH ADVANCING SOCIAL MOBILITY, CHAMPIONING COMMUNITY, OR SIMPLY SUPPORTING PEOPLE, EVERY INITIATIVE REFLECTS CARLOW'S MISSION TO BE A FORCE FOR POSITIVE GOOD. WE BELIEVE IN THE POWER OF CONNECTION AND GROWTH, ENSURING THAT EVERY VOICE FINDS SUPPORT AND EVERY EFFORT INSPIRES CHANGE. TOGETHER, WE'RE CREATING A BRIGHTER FUTURE - A MORE JUST AND MERCIFUL WORLD.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,216,193
Program Service Revenue $64,545,401
Investment Income $2,319,968
Other Revenue $64,053
TOTAL REVENUE $76,145,615

Expense Breakdown

Grants Paid $17,049,257
Salaries & Benefits $35,178,765
Fundraising Expenses $1,385,675
Program Expenses $69,361,346
Other Expenses $29,524,287
TOTAL EXPENSES $81,752,309

Year-over-Year Comparison

2023 2022 Change
Revenue $76,145,615 $84,318,254 -0.1%
Expenses $81,752,309 $78,038,341 +0.0%
Net Income $-5,606,694 $6,279,913 -1.9%
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
26
Independent Members
25
Employees
1118
Volunteers
76

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
12
$1,357,878
Total Directors
32
$593,436
Key Employees
1
$218,795
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHY W HUMPHREY PHD PRESIDENT 50.00
Officer Director
$518,069 $75,367 $593,436
JESSICA PRISELAC TRUSTEE (THRU 6/24), SECRETARY (AS OF 6/24) 2.00
Officer Director
$0 $0 $0
MARCIA MARTIN SECRETARY (EXIT 6/24) 2.00
Officer Director
$0 $0 $0
JAMES H MCTIERNAN TREASURER 2.00
Officer Director
$0 $0 $0
SISTER JULIA UPTON RSM PHD MPH VICE CHAIR 2.00
Officer Director
$0 $0 $0
SISTER HELEN MARIE BURNS RSM VICE CHAIR, MISSION 2.00
Officer Director
$0 $0 $0
BRYAN DILUCENTE CHAIR 2.00
Officer Director
$0 $0 $0
MARGARET MEIS ARMEN JD TRUSTEE (EXIT 6/24) 2.00
Director
$0 $0 $0
DEBRA CAPLAN TRUSTEE (ENTER 2/24) 2.00
Director
$0 $0 $0
ANITA COURCOULAS TRUSTEE 2.00
Director
$0 $0 $0
JOHN DENNY TRUSTEE 2.00
Director
$0 $0 $0
PATRICIA G DONOHOE TRUSTEE 2.00
Director
$0 $0 $0
AMIE DOWNS TRUSTEE 2.00
Director
$0 $0 $0
SISTER MARY M FANNING RSM PHD TRUSTEE 2.00
Director
$0 $0 $0
BART GABLER JD MBA TRUSTEE 2.00
Director
$0 $0 $0
MARTIN LAMAR TRUSTEE (EXIT 6/24) 2.00
Director
$0 $0 $0
STEVEN MASSARO TRUSTEE 2.00
Director
$0 $0 $0
CAITLIN MCLAUGHLIN TRUSTEE 2.00
Director
$0 $0 $0
MARIBETH MCLAUGHLIN TRUSTEE 2.00
Director
$0 $0 $0
NORM MITRY TRUSTEE 2.00
Director
$0 $0 $0
JO ELLEN PARKER TRUSTEE (ENTER 2/24) 2.00
Director
$0 $0 $0
ALEX RODRIGUEZ TRUSTEE 2.00
Director
$0 $0 $0
DEBORAH L RICE-JOHNSON TRUSTEE (EXIT 6/24) 2.00
Director
$0 $0 $0
LOURDES SANCHEZ RIDGE ESQ TRUSTEE 2.00
Director
$0 $0 $0
MORTON STANFIELD JR TRUSTEE (EXIT 6/24) 2.00
Director
$0 $0 $0
ANNA BAMONTE TORRANCE ESQ TRUSTEE 2.00
Director
$0 $0 $0
CAROLINA VELEZ JD TRUSTEE 2.00
Director
$0 $0 $0
LARA WASHINGTON TRUSTEE 2.00
Director
$0 $0 $0
SISTER SUSAN J WELSH RSM TRUSTEE 2.00
Director
$0 $0 $0
SISTER LINDA WERTHMAN RSM PHD TRUSTEE 2.00
Director
$0 $0 $0
REPRESENTATIVE JAKE WHEATLEYJR TRUSTEE (EXIT 6/24) 2.00
Director
$0 $0 $0
LATASHA WILSON-BATCH TRUSTEE 2.00
Director
$0 $0 $0
RHONDA MANEVAL DEAN COLLEGE OF NURSING, INTERIM PROVOST (6/24) 50.00
Officer
$219,613 $12,394 $232,007
SIBDAS GHOSH VPPROVOST (THRU 9/23), ADJUNCT (AS OF 10/23) 40.00
Officer
$180,039 $16,764 $196,803
MATTHEW GORDLEY DEAN COLLEGE OF ARTS, INTERIM PROVOST (6/24) 50.00
Officer
$154,410 $38,891 $193,301
JOHN LEA VP OF FINANCE & BUS. DEV./UNIV. TREAS. 50.00
Officer
$131,712 $773 $132,485
ERRIKA FEARBRY JONES AS OF 11/23) CHIEF OF STAFF/UNIVERSITY SEC. 50.00
Officer
$9,846 $0 $9,846
CARALYNN KASSABOV VP FOR ADVANCEMENT 40.00
Key Emp
$177,197 $41,598 $218,795
JAMES SANTUCCI OPERATIONS SERGEANT 40.00
Highest
$193,871 $33,754 $227,625
THOMAS FOUSE ADMINISTRATIVE SERGEANT 40.00
Highest
$176,536 $29,999 $206,535
MARY CERCERE VP FOR ENROLLMENT MGMT 40.00
Highest
$148,357 $54,532 $202,889
TIMOTHY PHILLIPS VP OF STUDENT AFFAIRS 40.00
Highest
$143,361 $35,006 $178,367
JOHN CARDONE VP OF MARKETING & COMMUNICATION 40.00
Highest
$136,682 $723 $137,405
DAVID MEADOWS FORMER OFFICER 0.00
$132,439 $27,831 $160,270
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 $76,145,615 $81,752,309 $121,909,309 $-5,606,694
2023 $84,318,254 $78,038,341 $126,780,809 $6,279,913
2022 $75,353,671 $69,957,559 $105,056,716 $5,396,112
2021 $61,205,389 $63,181,144 $109,959,970 $-1,975,755
2020 $62,596,783 $62,901,752 $105,247,078 $-304,969
2019 $60,486,364 $59,850,188 $107,730,337 $636,176
2018 $59,766,776 $58,950,846 $100,824,689 $815,930
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