Pratt is an Institute, an experience, and an idea. What started as a radical experiment to expand access to creative careers is now a community of 5,137 grad and undergrad students working across 48 programs with 1,200 dedicated faculty. (continued on schedule o).

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.9M 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
4 of 6
filings with a surplus
Average surplus $16.4M a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.9M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $345.0M in investments, Pt X · Ln 11–13
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $67K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$211.0M
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 26 voting members
Looks good: 23 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$241.2M
-15% vs prior year
Spent
$246.6M
To programs
84%
Net assets
$544.0M
By yearFY2020–FY2025
Revenue
$241.2M
FY2021▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$285.4M
FY2021$241.2M
FY2022$327.2M
FY2023$337.7M
FY2024$398.1M
FY2025$364.5M
Expenses
$246.6M
FY2021▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$278.9M
FY2021$246.6M
FY2022$300.9M
FY2023$322.6M
FY2024$335.5M
FY2025$371.6M
Net assets
$544.0M
FY2021▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$437.8M
FY2021$544.0M
FY2022$516.0M
FY2023$544.7M
FY2024$588.6M
FY2025$611.4M

From the FY2021 Form 990 (year ending June 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 Jan 1935.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $206.4M Management & general 15% · $37.6M Fundraising 1% · $2.5M

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

33 people listed on the 990; $2.9M 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 and Trustee
$625,304Pt VII · Sec A
$360,151Pt VII · Sec A
VP for Finance and Administration
$326,406Pt VII · Sec A
VP of Institutional Advancement
$319,560Pt VII · Sec A
Dean of School of Architechture
$249,709Pt VII · Sec A
VP of IT and CIO
$245,123Pt VII · Sec A
Associate Provost
$237,330Pt VII · Sec A
VP for Stud. Affairs (thru 06/2021)
$228,022Pt VII · Sec A

Frances Bronet’s $821K as President and Trustee 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
Frances Bronet$820,526$955,807$881,301$735,438$625,304$797,050
Thomas F Schutte—————$426,409
Cathleen M Kenny$378,716$367,720$356,673$336,923$326,406$336,620
Donna Heiland$365,056$351,909$334,734$267,143$237,330$244,916
Kirk E Pillow$199,701$195,089$189,559$312,634$360,151$360,151
Daphne R Halpern—$290,184$350,035$322,122$319,560$313,827
Richard Longo$300,702$292,057$283,878$126,992——
Jessica Tallman—$289,362$215,392———

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 Pratt Institute executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Teaches artists and creative professionals to contribute responsibly to society.

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Provided by the organization

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3 programs · $185.4M · in their own filed words · FY2020
01

Instruction

Pratt institute is a coeducational private institution chartered and empowered to confer academic degrees by the board of regents of nys. The certificates and degrees conferred are registered by the nys department of education.

$138.2Mprogram expense
02

Academic Support

Includes all expenses incurred in support of academic and instructional programs as well as research, library and information technology services. Pratt libraries provide outstanding services and access to a resource-rich environment that facilitates critical thinking and creative teaching and learning in the pratt community.

$26.6Mprogram expense
03

Auxiliary Enterprises

The residential life and student housing expenditures are reported under auxiliary enterprises. Its mission is to efficiently and effectively administer a housing program in a learning centered environment that challenges and supports students to 1) enhance self-understanding 2) value community responsibility and 3) learn from their…

$20.6Mprogram 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
See all 4 funders →
Grants paid · 8 grants · $472.0M · 2019–2024
Unitemized GrantFY2024$93,246,536
Unitemized GrantFY2023$82,677,298
Unitemized GrantFY2022$84,087,058
Unitemized GrantFY2021$80,456,954
Unitemized GrantFY2021$3,910,477
Unitemized GrantFY2020$60,113,756
Unitemized GrantFY2020$1,723,843
Unitemized GrantFY2019$65,787,387

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$241.2M
Ln 12
Fees for servicesLn 2g$209.6M
Investment incomeLn 3$16.7M
Gifts and grantsLn 1h$14.1M
Money outPt IX
$246.6M
Ln 25
Programscol B$206.4M
Managementcol C$37.6M
Fundraisingcol D$2.5M
Owns and owesPt X
$544.0M
net assets · Ln 32
Cash and savingsLn 1–2$77.3M
Total assetsLn 16$755.0M
LiabilitiesLn 26$211.0M
PeoplePt VI, VII
33
listed · VII A
PaidVII A10
Voting boardVI 1a26
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14.1M
Government grantsLn 1e$6.7M
Noncash giftsLn 1g$61K
Fundraising eventsLn 1c$208K
Fees for servicesLn 2g$209.6M
Investment incomeLn 3$16.7M
Other incomeLn 4–11$844K
Gains on assetsLn 7$10.3M
Total revenueLn 12$241.2M
Assets in detailPt X, end of year
CashLn 1$62.8M
SavingsLn 2$14.5M
Cash and savings togetherLn 1–2$77.3M
InvestmentsLn 11–13$345.0M
Land, buildings, equipmentLn 10c$310.6M
Other assetsLn 15$3.1M
Total assetsLn 16$755.0M
LiabilitiesLn 26$211.0M
Net assetsLn 32$544.0M
OperationsPt I, VI
EmployeesI 54,490
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$24.1M$77.3M
InvestmentsLn 11–13$342.3M$345.0M
Land, buildings, equipmentLn 10c$322.4M$310.6M
Total assetsLn 16$710.6M$755.0M
LiabilitiesLn 26$272.8M$211.0M
Net assetsLn 32$437.8M$544.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$61.8M$61.8M
Pay of current officers, directors and key staffLn 5$1.8M$1.4M$352K
Other salaries and wagesLn 7$95.1M$74.3M$18.7M$2.1M
Pension plan contributionsLn 8$2.6M$2.1M$533K
Other employee benefitsLn 9$21.8M$17.4M$4.4M
Payroll taxesLn 10$6.7M$5.4M$1.4M
Legal feesLn 11b$470K$375K$95K
Accounting feesLn 11c$297K$237K$60K
Lobbying feesLn 11d$158K$158K
Investment management feesLn 11f$1.1M$1.1M
Other fees for servicesLn 11g$10.0M$8.1M$1.9M$6K
Advertising and promotionLn 12$2.3M$1.7M$434K$158K
Office expensesLn 13$9.8M$7.7M$2.0M$60K
Information technologyLn 14$1.2M$873K$221K$150K
OccupancyLn 16$4.1M$3.3M$823K$400
TravelLn 17$49K$39K$10K$925
Conferences, conventions and meetingsLn 19$45K$35K$9K$683
InterestLn 20$4.7M$3.8M$954K
Depreciation, depletion and amortizationLn 22$13.1M$10.5M$2.6M
InsuranceLn 23$1.7M$1.4M$344K
Other expenses (24a–d)Ln 24$6.5M$5.2M$1.3M$20K
All other expensesLn 24e$1.0M$820K$199K
Total functional expensesLn 25$246.6M$206.4M$37.6M$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $364.5M$371.6M−$7.0M$611.4M 990 PDF
FY2024 $398.1M$335.5M$62.5M$588.6M 990 PDF
FY2023 $337.7M$322.6M$15.1M$544.7M 990 PDF
FY2022 $327.2M$300.9M$26.3M$516.0M 990 PDF
FY2021 Viewing $241.2M$246.6M−$5.3M$544.0M 990 PDF
FY2020 $285.4M$278.9M$6.5M$437.8M 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 $241,236,103 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,013,321$14,096,414
I-9 Program service revenuePrior year $264,767,890$209,628,118
I-10 Investment incomePrior year $8,006,106$16,667,479
I-11 Other revenuePrior year $1,635,945$844,092
I-12 Total revenuePrior year $285,423,262$241,236,103
I-13 Grants and similar amounts paidPrior year $65,787,387$61,837,599
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $143,726,956$128,063,627
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $69,410,023$56,667,664
I-18 Total expensesPrior year $278,924,366$246,568,890
I-19 Revenue less expensesPrior year $6,498,896−$5,332,787
Part VI · Governance 23 of 26 board members independent, 2 to look at
VI-1a Voting members of the governing body26
VI-1b Independent voting members23
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $241,236,103 across 13 lines filed
VIII-1c Fundraising events$207,513
VIII-1e Government grants$6,721,729
VIII-1f All other contributions, gifts and grants$7,167,172
VIII-1g Noncash contributions (included above)$60,574
VIII-1h Total contributions, gifts and grants$14,096,414
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $209,628,118$209,628,118
VIII-3 Investment incomeUnrelated business −$11,917 · Excluded from tax $6,404,949$6,393,032
VIII-5 RoyaltiesExcluded from tax $27,781$27,781
VIII-6 Net rental income or lossExcluded from tax $308,264$308,264
VIII-7 Net gain or loss on sales of assetsExcluded from tax $10,274,447$10,274,447
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $508,047$508,047
VIII-12 Total revenueRelated to mission $209,628,118 · Unrelated business −$11,917 · Excluded from tax $17,523,488$241,236,103
Part IX · Statement of functional expenses $246,568,890 across 22 lines filed
IX-2 Grants to domestic individualsPrograms $61,837,599$61,837,599
IX-5 Pay of current officers, directors and key staffPrograms $1,400,980 · Management $352,421$1,753,401
IX-7 Other salaries and wagesPrograms $74,278,322 · Management $18,747,403 · Fundraising $2,081,121$95,106,846
IX-8 Pension plan contributionsPrograms $2,110,362 · Management $533,093$2,643,455
IX-9 Other employee benefitsPrograms $17,439,291 · Management $4,405,309$21,844,600
IX-10 Payroll taxesPrograms $5,361,072 · Management $1,354,253$6,715,325
IX-11b Legal feesPrograms $374,915 · Management $94,707$469,622
IX-11c Accounting feesPrograms $237,206 · Management $59,920$297,126
IX-11d Lobbying feesManagement $157,717$157,717
IX-11f Investment management feesManagement $1,130,152$1,130,152
IX-11g Other fees for servicesPrograms $8,103,666 · Management $1,906,806 · Fundraising $6,193$10,016,665
IX-12 Advertising and promotionPrograms $1,718,072 · Management $434,000 · Fundraising $157,749$2,309,821
IX-13 Office expensesPrograms $7,749,260 · Management $1,957,489 · Fundraising $60,338$9,767,087
IX-14 Information technologyPrograms $873,209 · Management $220,580 · Fundraising $150,295$1,244,084
IX-16 OccupancyPrograms $3,258,746 · Management $823,187 · Fundraising $400$4,082,333
IX-17 TravelPrograms $38,755 · Management $9,790 · Fundraising $925$49,470
IX-19 Conferences, conventions and meetingsPrograms $35,158 · Management $8,881 · Fundraising $683$44,722
IX-20 InterestPrograms $3,775,607 · Management $953,751$4,729,358
IX-22 Depreciation, depletion and amortizationPrograms $10,459,288 · Management $2,642,106$13,101,394
IX-23 InsurancePrograms $1,363,612 · Management $344,460$1,708,072
IX-24 Other expenses (24a–d)Programs $5,205,673 · Management $1,314,997 · Fundraising $20,334$6,541,004
IX-24e All other expensesPrograms $820,087 · Management $198,950$1,019,037
IX-25 Total functional expensesPrograms $206,440,880 · Management $37,649,972 · Fundraising $2,478,038$246,568,890
Part X · Balance sheet $755,027,216 assets, 20 lines filed
Asset lines not itemized here account for $9,062,455; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $7,533,973$62,845,395
X-2 Savings and temporary cash investmentsStart of year $16,588,519$14,454,523
X-3 Pledges and grants receivableStart of year $5,498,307$5,196,768
X-4 Accounts receivableStart of year $4,318,450$3,080,181
X-9 Prepaid expenses and deferred chargesStart of year $1,435,051$1,630,719
X-10c Land, buildings and equipment, netStart of year $322,436,468$310,605,799
X-11 Publicly traded securitiesStart of year $287,721,697$280,782,979
X-12 Other securitiesStart of year $54,577,161$64,226,270
X-15 Other assets$3,142,127
X-16 Total assetsStart of year $710,606,804$755,027,216
X-17 Accounts payable and accrued expensesStart of year $23,558,395$23,837,447
X-19 Deferred revenueStart of year $9,201,055$10,091,082
X-20 Tax-exempt bond liabilitiesStart of year $129,566,569$54,177,306
X-24 Unsecured notes and loans payableStart of year $10,657,905$10,245,479
X-25 Other liabilitiesStart of year $99,798,975$36,775,916
X-26 Total liabilitiesStart of year $272,782,899$210,997,589
X-27 Net assets without donor restrictionsStart of year $333,711,572$417,922,849
X-28 Net assets with donor restrictionsStart of year $104,112,333$126,106,778
X-32 Total net assets or fund balancesStart of year $437,823,905$544,029,627
X-33 Total liabilities and net assetsStart of year $710,606,804$755,027,216
Part XI · Reconciliation of net assets $544,029,627 net assets at year end
XI-1 Total revenue$241,236,103
XI-2 Total expenses$246,568,890
XI-3 Revenue less expenses−$5,332,787
XI-4 Net assets at start of year$437,823,905
XI-5 Net unrealized gains (losses) on investments$49,924,477
XI-9 Other changes in net assets$61,614,032
XI-10 Net assets at end of year$544,029,627

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

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