Franklin Pierce University FY2020 filing

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Franklin Pierce University embraces an education that matters: one that achieves success through the integration of liberal arts and professional programs.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$1.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $723K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.4M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $16.6M in investments, Pt X · Ln 11–13
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$46.1M
54% of total assets
Fine: liabilities are 54% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$89.9M
Spent
$87.2M
To programs
92%
Net assets
$39.5M
By yearFY2020–FY2025
Revenue
$89.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$89.9M
FY2021$91.8M
FY2022$91.0M
FY2023$85.8M
FY2024$124.8M
FY2025$127.7M
Expenses
$87.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$87.2M
FY2021$86.5M
FY2022$87.3M
FY2023$86.8M
FY2024$127.8M
FY2025$131.3M
Net assets
$39.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$39.5M
FY2021$47.1M
FY2022$47.1M
FY2023$46.2M
FY2024$44.9M
FY2025$41.7M

From the FY2020 Form 990 (year ending May 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1963.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $80.5M Management & general 7% · $5.9M Fundraising 1% · $810K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

27 people listed on the 990; $1.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President
$293,304Pt VII · Sec A
VP of Finance/CFO
$187,515Pt VII · Sec A
Dir.- Master of Phys. Assistant Prog.
$151,306Pt VII · Sec A
Director- Athletics
$126,976Pt VII · Sec A
VP of University Advancement
$123,974Pt VII · Sec A
Dean- College of Health & Nat. Sci.
$123,609Pt VII · Sec A
Dir.- Doctor Phys. Therapy Prog.
$122,130Pt VII · Sec A
Past Provost & VP Academic Affairs
$118,264Pt VII · Sec A

Dr Kim Mooney’s $449K as Past President is at the 31st percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Kim Mooney$448,886$449,523$465,160———
Kim Mooney———$406,948$292,903$293,304
Janet Waldron—$280,000$280,000$67,937——
Peter Eden$269,850—————
Eric Graage—$195,640————
Catherine Paden$193,080$186,495————
Sandra Quaye———$140,971$171,343$187,515
Catherine Padin——$178,458$84,762——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Franklin Pierce University executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Integrates liberal arts and professional programs for a successful, meaningful education.

Questions for Franklin Pierce University

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1 program · $80.5M · in their own filed words · FY2019
01

Franklin Pierce University serves traditional and nontraditional students at the undergraduate and graduate level. Awards are offered from the certificate level through the doctoral level. Credit and non-credit bearing courses are available, and many programs are available online.

$80.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$2K
Grants paid · 12 grants · $80.5M · 2019–2024
Unitemized GrantFY2024$39,696,491
Unitemized GrantFY2024$32,166,373
Unitemized GrantFY2024$2,238,972
Unitemized GrantFY2024$658,907
Unitemized GrantFY2024$199,919
Unitemized GrantFY2024$159,661
Unitemized GrantFY2022$496,525
Unitemized GrantFY2021$1,990,098
Unitemized GrantFY2021$539,364
Unitemized GrantFY2020$1,402,446
Unitemized GrantFY2020$576,330
Unitemized GrantFY2019$418,545

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending May 2025 · $44.1M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$40.4M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.3M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$848K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$239K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$213K

Plus 4 smaller programs.

The auditor reported 2 findings: a weakness in money controls.

Year ending May 2024 · $40.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$37.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.7M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.3M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$207K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$185K

Plus 3 smaller programs.

The auditor reported no findings.

Year ending May 2023 · $36.2M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$31.5M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$2.6M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.6M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$235K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$168K

Plus 1 smaller program.

The auditor reported no findings.

Year ending May 2022 · $36.2M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$27.0M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$3.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$3.2M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.5M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$266K

Plus 2 smaller programs.

The auditor reported no findings.

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$89.9M
Ln 12
Fees for servicesLn 2g$86.7M
Gifts and grantsLn 1h$2.1M
Investment incomeLn 3$1.2M
Money outPt IX
$87.2M
Ln 25
Programscol B$80.5M
Managementcol C$5.9M
Fundraisingcol D$810K
Owns and owesPt X
$39.5M
net assets · Ln 32
Cash and savingsLn 1–2$15.7M
Total assetsLn 16$85.7M
LiabilitiesLn 26$46.1M
PeoplePt VI, VII
27
listed · VII A
PaidVII A9
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Government grantsLn 1e$849K
Noncash giftsLn 1g$161K
Fundraising eventsLn 1c$46K
Fees for servicesLn 2g$86.7M
Investment incomeLn 3$1.2M
Gains on assetsLn 7$649K
Total revenueLn 12$89.9M
Assets in detailPt X, end of year
CashLn 1$15.3M
SavingsLn 2$365K
Cash and savings togetherLn 1–2$15.7M
InvestmentsLn 11–13$16.6M
Land, buildings, equipmentLn 10c$48.0M
Other assetsLn 15$318K
Total assetsLn 16$85.7M
LiabilitiesLn 26$46.1M
Net assetsLn 32$39.5M
OperationsPt I, VI
EmployeesI 51,267
VolunteersI 619
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$31.6M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$34.6M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$161K
EndowmentSch D · Pt V
LineFY20FY19FY18FY17FY16
End of yearLn 1g$17.2M$14.7M$13.3M$10.3M$7.5M
Given inLn 1b$1.7M$1.6M$2.6M$2.4M$2.5M
SpentLn 1d–1f$540K$412K$247K$246K$224K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$13.7M$15.7M
InvestmentsLn 11–13$14.0M$16.6M
Land, buildings, equipmentLn 10c$49.2M$48.0M
Total assetsLn 16$82.9M$85.7M
LiabilitiesLn 26$46.8M$46.1M
Net assetsLn 32$36.1M$39.5M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$36.7M$36.7M
Pay of current officers, directors and key staffLn 5$831K$831K
Other salaries and wagesLn 7$20.3M$18.5M$1.4M$439K
Pension plan contributionsLn 8$1.2M$1.1M$74K$26K
Other employee benefitsLn 9$4.4M$3.9M$404K$102K
Payroll taxesLn 10$1.5M$1.3M$145K$31K
Legal feesLn 11b$322K$322K
Accounting feesLn 11c$114K$114K
Professional fundraising feesLn 11e$18K$18K
Investment management feesLn 11f$201K$201K
Other fees for servicesLn 11g$4.1M$3.4M$673K$78K
Advertising and promotionLn 12$369K$365K$4K
Office expensesLn 13$1.1M$397K$723K$9K
Information technologyLn 14$405K$300K$105K
OccupancyLn 16$4.8M$4.5M$316K$11K
TravelLn 17$346K$297K$27K$22K
InterestLn 20$1.4M$1.3M$60K
Depreciation, depletion and amortizationLn 22$4.0M$3.8M$171K
InsuranceLn 23$720K$689K$31K
Other expenses (24a–d)Ln 24$4.3M$3.9M$362K$70K
Total functional expensesLn 25$87.2M$80.5M$5.9M$810K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 11, 2026 $127.7M$131.3M−$3.5M$41.7M 990 PDF
FY2024Filed with the IRS Feb 28, 2025 $124.8M$127.8M−$2.9M$44.9M 990 PDF
FY2023Filed with the IRS Mar 12, 2024 $85.8M$86.8M−$1.0M$46.2M 990 PDF
FY2022Filed with the IRS Apr 11, 2023 $91.0M$87.3M$3.7M$47.1M 990 PDF
FY2021Filed with the IRS Mar 3, 2022 $91.8M$86.5M$5.3M$47.1M 990 PDF
FY2020 ViewingFiled with the IRS Apr 12, 2021 $89.9M$87.2M$2.7M$39.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $89,944,344 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,541,341$2,064,727
I-9 Program service revenuePrior year $84,932,021$86,722,585
I-10 Investment incomePrior year $1,040,004$1,171,562
I-11 Other revenuePrior year −$17,725−$14,530
I-12 Total revenuePrior year $87,495,641$89,944,344
I-13 Grants and similar amounts paidPrior year $32,794,427$36,674,049
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $29,360,739$28,259,601
I-16a Professional fundraising feesPrior year $18,000$18,000
I-17 Other expensesPrior year $22,709,054$22,283,393
I-18 Total expensesPrior year $84,882,220$87,235,043
I-19 Revenue less expensesPrior year $2,613,421$2,709,301
Part VI · Governance 16 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $89,944,344 across 10 lines filed
VIII-1c Fundraising events$45,865
VIII-1e Government grants$849,265
VIII-1f All other contributions, gifts and grants$1,169,597
VIII-1g Noncash contributions (included above)$160,817
VIII-1h Total contributions, gifts and grants$2,064,727
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $86,366,697 · Unrelated business $355,888$86,722,585
VIII-3 Investment incomeExcluded from tax $522,201$522,201
VIII-7 Net gain or loss on sales of assetsExcluded from tax $649,361$649,361
VIII-8 Net income from fundraising eventsExcluded from tax −$14,530−$14,530
VIII-12 Total revenueRelated to mission $86,366,697 · Unrelated business $355,888 · Excluded from tax $1,157,032$89,944,344
Part IX · Statement of functional expenses $87,235,043 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $36,674,049$36,674,049
IX-5 Pay of current officers, directors and key staffManagement $830,961$830,961
IX-7 Other salaries and wagesPrograms $18,520,501 · Management $1,368,202 · Fundraising $439,022$20,327,725
IX-8 Pension plan contributionsPrograms $1,113,108 · Management $74,044 · Fundraising $26,386$1,213,538
IX-9 Other employee benefitsPrograms $3,916,683 · Management $404,291 · Fundraising $102,254$4,423,228
IX-10 Payroll taxesPrograms $1,288,741 · Management $144,849 · Fundraising $30,559$1,464,149
IX-11b Legal feesManagement $321,941$321,941
IX-11c Accounting feesManagement $114,025$114,025
IX-11e Professional fundraising feesFundraising $18,000$18,000
IX-11f Investment management feesManagement $200,876$200,876
IX-11g Other fees for servicesPrograms $3,386,898 · Management $672,847 · Fundraising $78,233$4,137,978
IX-12 Advertising and promotionPrograms $365,196 · Fundraising $3,853$369,049
IX-13 Office expensesPrograms $396,619 · Management $722,722 · Fundraising $8,859$1,128,200
IX-14 Information technologyPrograms $299,771 · Management $105,449$405,220
IX-16 OccupancyPrograms $4,517,294 · Management $315,740 · Fundraising $11,011$4,844,045
IX-17 TravelPrograms $297,058 · Management $26,867 · Fundraising $21,731$345,656
IX-20 InterestPrograms $1,330,798 · Management $59,744$1,390,542
IX-22 Depreciation, depletion and amortizationPrograms $3,815,977 · Management $171,314$3,987,291
IX-23 InsurancePrograms $689,301 · Management $30,945$720,246
IX-24 Other expenses (24a–d)Programs $3,886,452 · Management $361,612 · Fundraising $70,260$4,318,324
IX-25 Total functional expensesPrograms $80,498,446 · Management $5,926,429 · Fundraising $810,168$87,235,043
Part X · Balance sheet $85,672,978 assets, 19 lines filed
Asset lines not itemized here account for $3,274,418; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $13,098,608$15,312,569
X-2 Savings and temporary cash investmentsStart of year $561,062$364,976
X-3 Pledges and grants receivableStart of year $210,138$267,096
X-4 Accounts receivableStart of year $699,971$885,859
X-8 Inventories for sale or useStart of year $105,611$105,307
X-9 Prepaid expenses and deferred chargesStart of year $614,463$554,007
X-10c Land, buildings and equipment, netStart of year $49,201,980$47,964,304
X-11 Publicly traded securitiesStart of year $13,993,447$16,626,006
X-15 Other assetsStart of year $301,835$318,436
X-16 Total assetsStart of year $82,902,016$85,672,978
X-17 Accounts payable and accrued expensesStart of year $4,691,892$4,339,959
X-19 Deferred revenueStart of year $2,870,013$2,663,026
X-20 Tax-exempt bond liabilitiesStart of year $32,220,592$31,590,071
X-25 Other liabilitiesStart of year $6,998,691$7,546,786
X-26 Total liabilitiesStart of year $46,781,188$46,139,842
X-27 Net assets without donor restrictionsStart of year $28,181,939$30,809,203
X-28 Net assets with donor restrictionsStart of year $7,938,889$8,723,933
X-32 Total net assets or fund balancesStart of year $36,120,828$39,533,136
X-33 Total liabilities and net assetsStart of year $82,902,016$85,672,978
Part XI · Reconciliation of net assets $39,533,136 net assets at year end
XI-1 Total revenue$89,944,344
XI-2 Total expenses$87,235,043
XI-3 Revenue less expenses$2,709,301
XI-4 Net assets at start of year$36,120,828
XI-5 Net unrealized gains (losses) on investments$703,007
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$39,533,136

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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