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Goodwin University INC EIN 06-1627882

Goodwin University INC

EIN  06-1627882 Higher education institution East Hartford, CT Founded 2001
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/8/26 · see original filing: IRS
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Size
$10–100M
What they do
Provides higher education through master's, bachelor's, associate's, and certificate programs, fostering professional skills and critical thinking.
Leadership
Mark Scheinberg · President · $952K
Money in and out
$62.4M revenue, $78.8M expenses
Bottom line
-26% operating surplus

Provides higher education through master's, bachelor's, associate's, and certificate programs, fostering professional skills and critical thinking. For fiscal year 2024 it reported $62.4M in revenue, $78.8M in expenses, and $234.9M in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$62.4M
Pt VIII · Ln 12
Total expenses
$78.8M
Pt IX · Ln 25
Net assets
$234.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$16.4M
Where spending went · Part IX cols B–D
Program services $0.67 Management & general $0.33 Fundraising $0.00
Operating surplus
-26%
revenue over expenses, this legal entity▼ -340% vs prior filing year
Payroll share
43%
of this entity's spending is salaries & benefits▼ -6% vs prior filing year
Program spending
67%
of expenses reach program services▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$62.4M
FY2024▼ -6%
Expenses
$78.8M
FY2024▲ +12%
Total assets
$307.8M
FY20240%
Total liabilities
$72.8M
FY2024▲ +26%
Total revenue
$62.4M
Pt VIII · Ln 12
Total expenses
$78.8M
Pt IX · Ln 25
Net assets
$234.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$16.4M
Total assetsPt X · Ln 16$307.8M
Program-expense ratioPt IX · col B67%
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 423
Mission & Programs · Part III

Where the work happens

1 program service account for $52.5M of program spending, described in the organization's own filed words · FY2024.
01

Goodwin university is authorized to confer masters degrees, baccalaureate degrees, associate degrees and one and two-year certificate programs. To this end, goodwin university creates an educational environment that blends professional preparation with development of critical thinking skills and an appreciation of the humanities, arts…

$52.5Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGoodwin University INC
EINHdr · item D06-1627882
Principal addressHdr · item CEast Hartford, CT
WebsiteHdr · item Jwww.goodwin.edu
Year of formationHdr · item L2001
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B42)
Ruling yearIRS BMFJan 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a23
Independent voting membersPt VI · Ln 1b23
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$952,365Pt VII · Sec A
Todd Andrews
Senior VP of Economic and Strategy
$869,290Pt VII · Sec A
Daniel Noonan
Senior VP Enrollment Services
$849,937Pt VII · Sec A
Jean Mcgill-White
Senior VP Human Resources
$745,605Pt VII · Sec A
Clifford Thermer
Avp Business Development
$567,784Pt VII · Sec A
Bryant Harrell
Senior VP of Facilities & IT
$464,091Pt VII · Sec A
Edwin Meyer JR
CFO/VP Finance
$410,671Pt VII · Sec A
Michael Pardales
Provost & VP of Faculty
$245,267Pt VII · Sec A

Mark Scheinberg’s $952K as President is at the 99th percentile of top reported officer pay among 3682 $10–100M 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

NameFY2024FY2024FY2023FY2022FY2021
Mark Scheinberg$952,365$775,303$513,520$517,093$709,334
Todd Andrews$869,290$296,258$270,782$271,682$245,794
Daniel Noonan$849,937$291,264$134,525$151,525$209,124
Jean Mcgill-White$745,605$202,629$156,359$167,064$156,693
Clifford Thermer$567,784———$145,343
Bryant Harrell$464,091$244,497$213,000$223,627$195,932
Edwin Meyer JR$410,671$274,782—$255,084$181,120
Edwin Meyer——$246,896——

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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Statement of Revenue

Part VIII
Program service revenue$57.3M · 92%
Contributions & grants$6.2M · 10%
Program service revenue92%$57.3M
Contributions & grants10%$6.2M
— government grantsLn 1e$3.3M
Total revenueLn 12$62.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.33 Fundraising $0.00
Program services67%$52.5M
Management & general33%$26.0M
Fundraising$374K
Total functional expensesLn 25$78.8M

Balance Sheet

Part X · end of year
CashLn 1$28.2M
Total assetsLn 16$307.8M
Total liabilitiesLn 26$72.8M
Total net assetsLn 32$234.9M
Months of cash on handcomputed4.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $28.2M · Operating expenses/yr $78.8M
4.3 months
Where the money goes
Program services
Program services $52.5M · Total expenses $78.8M
67%
Management & General
Management & general $26.0M · Total expenses $78.8M
33%
Fundraising
Fundraising $374K · Total expenses $78.8M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $436K · Solicited contributions (3-yr avg) $2.3M
$0.19 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $6.2M · Total revenue $62.4M
10%
Government reliance
Government grants $3.3M · Total revenue $62.4M
5%
Earned-income share
Program service revenue $57.3M · Total revenue $62.4M
92%
Investment reliance
Investment income $-628K · Total revenue $62.4M
-1%
Program self-sufficiency
Program service revenue $57.3M · Total expenses $78.8M
73%
Growth & trend
Revenue growth (YoY)
This year $62.4M · Prior year $66.6M
-6%
Revenue CAGR
FY2020 $112.7M · FY2024 $62.4M
-14%
Net-asset trend (YoY)
End of year $234.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $62.4M · Expenses $78.8M
-26%
Liabilities-to-Assets
Total liabilities — · Total assets $307.8M
—
Net-asset ratio
Net assets $234.9M · Total assets $307.8M
76%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $307.8M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Mark Scheinberg · Reported title PRESIDENT · Highest reported compensation $952K · Total expenses $78.8M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $33.8M · Total expenses $78.8M
43%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 67%——
Overhead ratio 33%——
Fundraising cost ratio 6%——
Revenue growth -6%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Goodwin Foundation INCFY2024$1.9M
Maximilian E & Marion O Hoffman Foundation INCFY2024$75K
Greater Hartford Gives FoundationFY2024$35K
Glenn W Bailey Charitable TrFY2024$25K
Delta Dental Endowment Association of New Jersey INCFY2024$10K
Wheeler Clinic INCFY2024$10K
Center for Expanding Leadership and Opportunity INCFY2024$10K
Idella Stuart Hempstead Trust United Bank & Trust Co TrFY2024$5K
Total grants receivedfrom 10 funders$2.1M
See all 10 funders →
Grants paid · 3 grants · $15.8M · 2020–2024
Unitemized GrantFY2024$10,857,627
The University of Bridgeport INCCT · FY2021$545,905
The University of Bridgeport INCCT · FY2020$4,357,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$66.6M revenue · ⤓ 990 PDF
FY2023$65.6M revenue · ⤓ 990 PDF
FY2022$70.5M revenue · ⤓ 990 PDF
FY2021$112.7M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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