Clark University FY2021 filing

Tax-deductible

Worcester, MA501(c)(3)Since 1887Colleges & UniversitiesEIN 04-2111203Revenue $181.3M in FY2021

On file with the IRSclarku.edu950 Main St, 01610-1400 · Worcester, MATax-exempt since Dec 1937School — 170(b)(1)(A)(ii)

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Clark university's mission is to educate undergraduate and graduate (continued in schedule o)students to be imaginative and contributing citizens of the world, and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$4.6M 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

FY2021 · 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
1 of 6
filings with a surplus
Average deficit $17.9M a year · 8% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.6M
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
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $20K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$106.4M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 27 voting members
Looks good: 26 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$181.3M
-10% vs prior year
Spent
$199.5M
To programs
93%
Net assets
$612.1M
By yearFY2020–FY2025
Revenue
$181.3M
FY2021▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$200.9M
FY2021$181.3M
FY2022$198.4M
FY2023$226.9M
FY2024$249.6M
FY2025$235.5M
Expenses
$199.5M
FY2021▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$197.3M
FY2021$199.5M
FY2022$228.9M
FY2023$248.9M
FY2024$258.9M
FY2025$266.5M
Net assets
$612.1M
FY2021▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$509.5M
FY2021$612.1M
FY2022$551.1M
FY2023$527.3M
FY2024$572.2M
FY2025$577.1M

From the FY2021 Form 990 (year ending May 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Dec 1937.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $184.9M Management & general 4% · $8.9M Fundraising 3% · $5.7M

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

47 people listed on the 990; $4.6M 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
President Until June 30, 2020
$574,359Pt VII · Sec A
President Beginning July 1, 2020
$483,683Pt VII · Sec A
Vice President of Advancement
$346,666Pt VII · Sec A
$315,838Pt VII · Sec A
Asst Provost/Dean of Professional Studies
$282,317Pt VII · Sec A
Associate Provost/Dean of Research
$268,108Pt VII · Sec A
Director Mosakowski Institute
$249,545Pt VII · Sec A
Director of Clark Labs
$236,208Pt VII · Sec A

David Fithian’s $826K as President is at the 67th 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
David Fithian$826,486$893,604$989,534$859,739$483,683—
David Angel————$574,359$433,662
Jeffrey Hite Gillooly——$402,194$437,084$346,666$324,704
Danielle Manning$369,581$397,148$378,139$370,276$189,608—
Sebastian Royo$361,801$353,930$345,738$176,955——
Alan Eisner$339,589$355,638$345,434$347,126——
Davis Baird——$192,621$353,775$315,838$303,641
Kendall Isaac$321,192$343,718$335,225$72,191——

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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Educates undergraduate and graduate students while advancing global knowledge through rigorous academic scholarship, creative efforts, and collaborative, faculty-led research programs.

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3 programs · $157.6M · in their own filed words · FY2020
01

Financial Aid

Clark is committed to being affordable to those students able to meet the high academic expectations of our faculty. Approximately 88% of undergraduate students receive some level of financial assistance, which is distributed on the basis of both merit and financial need.

$73.6Mprogram expense
02

Instruction and Academic Support

Clark's Fall 2020 enrollment consisted of 2,241 undergraduates and 1,184 graduate students. Our motto - and mission - is "Challenge Convention; Change Our World", and our faculty members work to inspire their students to utilize their liberal arts based education to make a real difference in the communities in which they live and work.

$68.4Mprogram expense
03

Research

Clark is committed to a program of research and has a very professionally active faculty, virtually all of whom are engaged in sponsored or unsponsored research and creative activity. Undergraduate and graduate students participate extensively in faculty-directed research. Research is funded by both private and public grants.

$15.6Mprogram 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
Total grants receivedfrom 2 funders$20K
Grants paid · 83 grants · $520.4M · 2019–2024
Unitemized GrantFY2024$95,208,282
Virginia Polytechnic Institute and State UniversityFY2024$116,656
Southbridge Public SchoolsFY2024$86,878
Icf InternationalFY2024$43,939
Partner4workPA · FY2024$29,275
University of MiamiFL · FY2024$19,355
Unitemized GrantFY2023$95,102,912
Partner4workPA · FY2023$222,000
City of WorcesterFY2023$139,985
Washington State UniversityWA · FY2023$87,760
See all 83 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$181.3M
Ln 12
Fees for servicesLn 2g$157.3M
Gifts and grantsLn 1h$21.4M
Investment incomeLn 3$1.3M
Money outPt IX
$199.5M
Ln 25
Programscol B$184.9M
Managementcol C$8.9M
Fundraisingcol D$5.7M
Owns and owesPt X
$612.1M
net assets · Ln 32
Cash and savingsLn 1–2$62.9M
Total assetsLn 16$718.5M
LiabilitiesLn 26$106.4M
PeoplePt VI, VII
47
listed · VII A
PaidVII A19
Voting boardVI 1a27
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$21.4M
Government grantsLn 1e$10.7M
Noncash giftsLn 1g$323K
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$157.3M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$1.3M
Gains on assetsLn 7$763K
Total revenueLn 12$181.3M
Assets in detailPt X, end of year
CashLn 1$791K
SavingsLn 2$62.1M
Cash and savings togetherLn 1–2$62.9M
InvestmentsLn 11–13$526.7M
Land, buildings, equipmentLn 10c$104.0M
Other assetsLn 15$7.3M
Total assetsLn 16$718.5M
LiabilitiesLn 26$106.4M
Net assetsLn 32$612.1M
OperationsPt I, VI
EmployeesI 52,700
VolunteersI 6366
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
LineStart FY21End FY21
Cash and savingsLn 1–2$54.7M$62.9M
InvestmentsLn 11–13$430.1M$526.7M
Land, buildings, equipmentLn 10c$107.1M$104.0M
Total assetsLn 16$609.5M$718.5M
LiabilitiesLn 26$100.0M$106.4M
Net assetsLn 32$509.5M$612.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$317K$317K
Grants to domestic individualsLn 2$75.9M$75.9M
Grants and assistance to foreign recipientsLn 3$70K$70K
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$3.6M$616K$2.6M$397K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$59.7M$47.3M$9.8M$2.6M
Pension plan contributionsLn 8$4.2M$3.3M$693K$182K
Other employee benefitsLn 9$8.3M$6.6M$1.4M$358K
Payroll taxesLn 10$4.0M$3.2M$659K$173K
Management feesLn 11a$646K$646K$0$0
Legal feesLn 11b$590K$129K$461K$0
Accounting feesLn 11c$240K$0$240K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$1.2M$0$1.2M$0
Other fees for servicesLn 11g$11.7M$7.7M$4.0M$89K
Advertising and promotionLn 12$816K$139K$677K$371
Office expensesLn 13$3.2M$2.3M$528K$391K
Information technologyLn 14$2.2M$2.1M$58K$25K
RoyaltiesLn 15$1.1M$801K$214K$53K
OccupancyLn 16$4.7M$3.6M$1.0M$91K
TravelLn 17$79K$75K$3K$947
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$329K$263K$18K$47K
InterestLn 20$763K$719K$43K$1K
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$8.9M$7.8M$997K$69K
InsuranceLn 23$691K$0$684K$7K
Other expenses (24a–d)Ln 24$6.0M$10.7M−$4.8M$113K
All other expensesLn 24e$258K$10.7M−$11.6M$1.1M
Total functional expensesLn 25$199.5M$184.9M$8.9M$5.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $235.5M$266.5M−$31.0M$577.1M 990 PDF
FY2024 $249.6M$258.9M−$9.3M$572.2M 990 PDF
FY2023 $226.9M$248.9M−$21.9M$527.3M 990 PDF
FY2022 $198.4M$228.9M−$30.4M$551.1M 990 PDF
FY2021 Viewing $181.3M$199.5M−$18.2M$612.1M 990 PDF
FY2020 $200.9M$197.3M$3.6M$509.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $181,293,663 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $25,963,306$21,420,289
I-9 Program service revenuePrior year $164,140,320$157,322,538
I-10 Investment incomePrior year $9,390,489$1,283,267
I-11 Other revenuePrior year $1,453,483$1,267,569
I-12 Total revenuePrior year $200,947,598$181,293,663
I-13 Grants and similar amounts paidPrior year $77,428,841$76,312,241
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $76,957,589$79,776,831
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $42,934,695$43,410,525
I-18 Total expensesPrior year $197,321,125$199,499,597
I-19 Revenue less expensesPrior year $3,626,473−$18,205,934
Part VI · Governance 26 of 27 board members independent, no flags
VI-1a Voting members of the governing body27
VI-1b Independent voting members26
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 $181,293,663 across 16 lines filed
Lines not itemized here account for $838,343 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$10,693,629
VIII-1f All other contributions, gifts and grants$10,726,660
VIII-1g Noncash contributions (included above)$322,802
VIII-1h Total contributions, gifts and grants$21,420,289
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $157,144,300 · Unrelated business $0 · Excluded from tax $0$157,144,300
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $520,327$520,327
VIII-5 RoyaltiesRelated to mission $192,409 · Unrelated business $0 · Excluded from tax $0$192,409
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $231,880$231,880
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $1,538,587 · Excluded from tax −$775,698$762,889
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $183,226 · Unrelated business $0 · Excluded from tax $0$183,226
VIII-12 Total revenueRelated to mission $158,358,227 · Unrelated business $1,538,587 · Excluded from tax −$23,440$181,293,663
Part IX · Statement of functional expenses $199,499,597 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $316,596$316,596
IX-2 Grants to domestic individualsPrograms $75,925,387$75,925,387
IX-3 Grants and assistance to foreign recipientsPrograms $70,258$70,258
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $615,951 · Management $2,563,486 · Fundraising $397,043$3,576,480
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $47,282,454 · Management $9,823,278 · Fundraising $2,574,857$59,680,589
IX-8 Pension plan contributionsPrograms $3,335,007 · Management $692,872 · Fundraising $181,614$4,209,493
IX-9 Other employee benefitsPrograms $6,582,797 · Management $1,367,625 · Fundraising $358,479$8,308,901
IX-10 Payroll taxesPrograms $3,170,118 · Management $658,615 · Fundraising $172,635$4,001,368
IX-11a Management feesPrograms $645,645 · Management $0 · Fundraising $0$645,645
IX-11b Legal feesPrograms $129,158 · Management $460,975 · Fundraising $0$590,133
IX-11c Accounting feesPrograms $0 · Management $240,379 · Fundraising $0$240,379
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $1,200,228 · Fundraising $0$1,200,228
IX-11g Other fees for servicesPrograms $7,667,647 · Management $3,986,382 · Fundraising $89,212$11,743,241
IX-12 Advertising and promotionPrograms $139,211 · Management $676,627 · Fundraising $371$816,209
IX-13 Office expensesPrograms $2,327,472 · Management $528,060 · Fundraising $391,021$3,246,553
IX-14 Information technologyPrograms $2,091,805 · Management $58,392 · Fundraising $24,605$2,174,802
IX-15 RoyaltiesPrograms $801,405 · Management $214,199 · Fundraising $53,008$1,068,612
IX-16 OccupancyPrograms $3,607,023 · Management $1,013,943 · Fundraising $90,882$4,711,848
IX-17 TravelPrograms $75,344 · Management $3,183 · Fundraising $947$79,474
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $263,339 · Management $18,163 · Fundraising $47,177$328,679
IX-20 InterestPrograms $718,825 · Management $43,146 · Fundraising $1,027$762,998
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $7,801,320 · Management $997,293 · Fundraising $69,434$8,868,047
IX-23 InsurancePrograms $0 · Management $684,099 · Fundraising $7,066$691,165
IX-24 Other expenses (24a–d)Programs $10,684,210 · Management −$4,812,153 · Fundraising $112,905$5,984,962
IX-24e All other expensesPrograms $10,667,691 · Management −$11,554,573 · Fundraising $1,144,432$257,550
IX-25 Total functional expensesPrograms $184,918,663 · Management $8,864,219 · Fundraising $5,716,715$199,499,597
Part X · Balance sheet $718,521,244 assets, 24 lines filed
Asset lines not itemized here account for $6,934,765; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $377,010$790,674
X-2 Savings and temporary cash investmentsStart of year $54,354,674$62,107,881
X-3 Pledges and grants receivableStart of year $5,848,866$6,196,054
X-4 Accounts receivableStart of year $1,534,658$1,756,468
X-8 Inventories for sale or useStart of year $994,242$464,871
X-9 Prepaid expenses and deferred chargesStart of year $837,596$2,291,785
X-10c Land, buildings and equipment, netStart of year $107,125,409$103,973,051
X-11 Publicly traded securitiesStart of year $93,534,299$22,443,335
X-12 Other securitiesStart of year $332,914,958$501,482,343
X-13 Program-related investmentsStart of year $3,668,104$2,750,586
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $1,402,743$7,329,431
X-16 Total assetsStart of year $609,464,924$718,521,244
X-17 Accounts payable and accrued expensesStart of year $14,327,559$19,052,976
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $11,829,991$10,399,711
X-20 Tax-exempt bond liabilitiesStart of year $58,488,163$56,219,210
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $15,306,921$20,776,992
X-26 Total liabilitiesStart of year $99,952,634$106,448,889
X-27 Net assets without donor restrictionsStart of year $135,006,427$152,715,677
X-28 Net assets with donor restrictionsStart of year $374,505,863$459,356,678
X-32 Total net assets or fund balancesStart of year $509,512,290$612,072,355
X-33 Total liabilities and net assetsStart of year $609,464,924$718,521,244
Part XI · Reconciliation of net assets $612,072,355 net assets at year end
XI-1 Total revenue$181,293,663
XI-2 Total expenses$199,499,597
XI-3 Revenue less expenses−$18,205,934
XI-4 Net assets at start of year$509,512,290
XI-5 Net unrealized gains (losses) on investments$121,582,535
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$816,536
XI-10 Net assets at end of year$612,072,355

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

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