Franklin Pierce University: FY2021 Nonprofit Profile & Form 990 (EIN 02-0263136)

Revenue by fiscal year
FY2020	$89.9M
FY2021	$91.8M
FY2022	$91.0M
FY2023	$85.8M
FY2024	$124.8M
FY2025	$127.7M

Expenses by fiscal year
FY2020	$87.2M
FY2021	$86.5M
FY2022	$87.3M
FY2023	$86.8M
FY2024	$127.8M
FY2025	$131.3M

Net assets by fiscal year
FY2020	$39.5M
FY2021	$47.1M
FY2022	$47.1M
FY2023	$46.2M
FY2024	$44.9M
FY2025	$41.7M

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

93 cents of each dollar spent went to programs.

93%

Program services 93% · $80.6M Management & general 6% · $5.2M Fundraising 1% · $682K

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; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Kim Mooney

President

$292,903Pt VII · Sec A

David Starrett

Provost & VP of Academic Affairs

$178,308Pt VII · Sec A

Sandra Quaye

VP of Finance/CFO

$171,343Pt VII · Sec A

Priscilla Marsicovetere

Dean Coll Heatlh & Nat Science

$155,311Pt VII · Sec A

Crystal Neuhauser

Assoc VP for Univ Advancement

$131,395Pt VII · Sec A

Sarah Dangelantonio

Exec Dean-Assess & Acad Aff

$131,211Pt VII · Sec A

Letha Zook

Department Chair/Academic Director

$129,409Pt VII · Sec A

Maria Altobello

Dean Coll Heatlh & Nat Science

$128,576Pt 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
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.

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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.

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Provided by the organization

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1 program · $80.6M · in their own filed words · FY2020

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.

$80.6Mprogram 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

Mildred E Gates Tr Uw Cl 14gFY2025$2K

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

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$91.8M

Ln 12

Fees for servicesLn 2g$82.3M

Gifts and grantsLn 1h$7.3M

Investment incomeLn 3$2.3M

Money outPt IX

$86.5M

Ln 25

Programscol B$80.6M

Managementcol C$5.2M

Fundraisingcol D$682K

Owns and owesPt X

$47.1M

net assets · Ln 32

Cash and savingsLn 1–2$20.8M

Total assetsLn 16$96.3M

LiabilitiesLn 26$49.2M

PeoplePt VI, VII

27

listed · VII A

PaidVII A8

Voting boardVI 1a16

IndependentVI 1b15

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$7.3M

Government grantsLn 1e$5.9M

Noncash giftsLn 1g$136K

Fundraising eventsLn 1c$25K

Fees for servicesLn 2g$82.3M

Investment incomeLn 3$2.3M

Gains on assetsLn 7$1.8M

Total revenueLn 12$91.8M

Assets in detailPt X, end of year

CashLn 1$20.3M

SavingsLn 2$413K

Cash and savings togetherLn 1–2$20.8M

InvestmentsLn 11–13$22.1M

Land, buildings, equipmentLn 10c$47.0M

Other assetsLn 15$336K

Total assetsLn 16$96.3M

LiabilitiesLn 26$49.2M

Net assetsLn 32$47.1M

OperationsPt I, VI

EmployeesI 51,267

VolunteersI 619

Fiscal year endsHeaderMay

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$15.7M	$20.8M
InvestmentsLn 11–13	$16.6M	$22.1M
Land, buildings, equipmentLn 10c	$48.0M	$47.0M
Total assetsLn 16	$85.7M	$96.3M
LiabilitiesLn 26	$46.1M	$49.2M
Net assetsLn 32	$39.5M	$47.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$37.1M	$37.1M
Pay of current officers, directors and key staffLn 5	$725K		$725K
Other salaries and wagesLn 7	$20.1M	$18.3M	$1.3M	$425K
Pension plan contributionsLn 8	$803K	$720K	$67K	$17K
Other employee benefitsLn 9	$3.5M	$3.1M	$312K	$73K
Payroll taxesLn 10	$1.4M	$1.2M	$136K	$29K
Legal feesLn 11b	$8K		$8K
Accounting feesLn 11c	$71K		$71K
Professional fundraising feesLn 11e	$18K			$18K
Investment management feesLn 11f	$246K		$246K
Other fees for servicesLn 11g	$4.3M	$3.7M	$471K	$68K
Advertising and promotionLn 12	$308K	$307K		$717
Office expensesLn 13	$848K	$359K	$481K	$8K
Information technologyLn 14	$566K	$456K	$110K
OccupancyLn 16	$5.1M	$4.7M	$326K	$7K
TravelLn 17	$45K	$43K	$2K	$279
InterestLn 20	$1.3M	$1.3M	$57K
Depreciation, depletion and amortizationLn 22	$3.9M	$3.8M	$169K
InsuranceLn 23	$844K	$808K	$36K
Other expenses (24a–d)Ln 24	$5.3M	$4.6M	$665K	$36K
Total functional expensesLn 25	$86.5M	$80.6M	$5.2M	$682K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$127.7M	$131.3M	−$3.5M	$41.7M	990 PDF
FY2024	$124.8M	$127.8M	−$2.9M	$44.9M	990 PDF
FY2023	$85.8M	$86.8M	−$1.0M	$46.2M	990 PDF
FY2022	$91.0M	$87.3M	$3.7M	$47.1M	990 PDF
FY2021 Viewing	$91.8M	$86.5M	$5.3M	$47.1M	990 PDF
FY2020	$89.9M	$87.2M	$2.7M	$39.5M	990 PDF

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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 FY2021 990 (6 parts)

Part I · Summary $91,825,890 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,064,727$7,282,273

I-9 Program service revenuePrior year $86,722,585$82,260,158

I-10 Investment incomePrior year $1,171,562$2,293,408

I-11 Other revenuePrior year −$14,530−$9,949

I-12 Total revenuePrior year $89,944,344$91,825,890

I-13 Grants and similar amounts paidPrior year $36,674,049$37,096,067

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $28,259,601$26,532,062

I-16a Professional fundraising feesPrior year $18,000$18,000

I-17 Other expensesPrior year $22,283,393$22,861,338

I-18 Total expensesPrior year $87,235,043$86,507,467

I-19 Revenue less expensesPrior year $2,709,301$5,318,423

Part VI · Governance 15 of 16 board members independent, no flags

VI-1a Voting members of the governing body16

VI-1b Independent voting members15

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 $91,825,890 across 10 lines filed

VIII-1c Fundraising events$24,585

VIII-1e Government grants$5,896,823

VIII-1f All other contributions, gifts and grants$1,360,865

VIII-1g Noncash contributions (included above)$135,964

VIII-1h Total contributions, gifts and grants$7,282,273

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $82,258,826 · Unrelated business $1,332$82,260,158

VIII-3 Investment incomeExcluded from tax $464,576$464,576

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,828,832$1,828,832

VIII-8 Net income from fundraising eventsExcluded from tax −$9,949−$9,949

VIII-12 Total revenueRelated to mission $82,258,826 · Unrelated business $1,332 · Excluded from tax $2,283,459$91,825,890

Part IX · Statement of functional expenses $86,507,467 across 20 lines filed

IX-2 Grants to domestic individualsPrograms $37,096,067$37,096,067

IX-5 Pay of current officers, directors and key staffManagement $725,378$725,378

IX-7 Other salaries and wagesPrograms $18,287,696 · Management $1,348,890 · Fundraising $424,547$20,061,133

IX-8 Pension plan contributionsPrograms $719,854 · Management $66,576 · Fundraising $16,711$803,141

IX-9 Other employee benefitsPrograms $3,143,173 · Management $312,145 · Fundraising $72,915$3,528,233

IX-10 Payroll taxesPrograms $1,249,600 · Management $135,578 · Fundraising $28,999$1,414,177

IX-11b Legal feesManagement $7,927$7,927

IX-11c Accounting feesManagement $71,067$71,067

IX-11e Professional fundraising feesFundraising $18,000$18,000

IX-11f Investment management feesManagement $245,505$245,505

IX-11g Other fees for servicesPrograms $3,727,681 · Management $471,486 · Fundraising $68,432$4,267,599

IX-12 Advertising and promotionPrograms $307,260 · Fundraising $717$307,977

IX-13 Office expensesPrograms $359,434 · Management $480,574 · Fundraising $8,359$848,367

IX-14 Information technologyPrograms $455,773 · Management $110,360$566,133

IX-16 OccupancyPrograms $4,738,146 · Management $325,587 · Fundraising $7,301$5,071,034

IX-17 TravelPrograms $42,574 · Management $1,768 · Fundraising $279$44,621

IX-20 InterestPrograms $1,274,100 · Management $57,199$1,331,299

IX-22 Depreciation, depletion and amortizationPrograms $3,772,707 · Management $169,371$3,942,078

IX-23 InsurancePrograms $807,723 · Management $36,262$843,985

IX-24 Other expenses (24a–d)Programs $4,613,655 · Management $664,571 · Fundraising $35,520$5,313,746

IX-25 Total functional expensesPrograms $80,595,443 · Management $5,230,244 · Fundraising $681,780$86,507,467

Part X · Balance sheet $96,302,702 assets, 19 lines filed

Asset lines not itemized here account for $2,238,337; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $15,312,569$20,342,648

X-2 Savings and temporary cash investmentsStart of year $364,976$412,912

X-3 Pledges and grants receivableStart of year $267,096$2,314,220

X-4 Accounts receivableStart of year $885,859$706,294

X-8 Inventories for sale or useStart of year $105,307$106,255

X-9 Prepaid expenses and deferred chargesStart of year $554,007$664,767

X-10c Land, buildings and equipment, netStart of year $47,964,304$47,046,532

X-11 Publicly traded securitiesStart of year $16,626,006$22,134,787

X-15 Other assetsStart of year $318,436$335,950

X-16 Total assetsStart of year $85,672,978$96,302,702

X-17 Accounts payable and accrued expensesStart of year $4,339,959$5,761,246

X-19 Deferred revenueStart of year $2,663,026$2,763,081

X-20 Tax-exempt bond liabilitiesStart of year $31,590,071$30,989,966

X-25 Other liabilitiesStart of year $7,546,786$9,665,932

X-26 Total liabilitiesStart of year $46,139,842$49,180,225

X-27 Net assets without donor restrictionsStart of year $30,809,203$36,550,586

X-28 Net assets with donor restrictionsStart of year $8,723,933$10,571,891

X-32 Total net assets or fund balancesStart of year $39,533,136$47,122,477

X-33 Total liabilities and net assetsStart of year $85,672,978$96,302,702

Part XI · Reconciliation of net assets $47,122,477 net assets at year end

XI-1 Total revenue$91,825,890

XI-2 Total expenses$86,507,467

XI-3 Revenue less expenses$5,318,423

XI-4 Net assets at start of year$39,533,136

XI-5 Net unrealized gains (losses) on investments$2,270,918

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$47,122,477

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Franklin Pierce University FY2021 filing

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