Wagner College FY2023 filing

Tax-deductible

Staten Island, NY501(c)(3)Since 1883Colleges & UniversitiesEIN 13-5604699Revenue $120.3M in FY2023

On file with the IRSwagner.edu1 Campus Rd, 10301-4479 · Staten Island, NYTax-exempt since Apr 1948School — 170(b)(1)(A)(ii)

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Wagner College prepares students for life, as well as for careers, by emphasizing scholarship, achievement, leadership, and citizenship. Wagner College offers a comprehensive educational program that is anchored in the liberal arts, experiential and (see schedule o) (continuation) curricular learning, interculturalism, interdisciplinary studies, and service to society, and that is cultivated by a faculty dedicated to promoting individual expression, reflective practice, and integrative learning.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
2 of 6
filings with a surplus
Average deficit $3.7M a year · 3% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
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
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$149.5M
54% of total assets
Fine: liabilities are 54% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
23
of 24 voting members
Looks good: 23 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$120.3M
+4% vs prior year
Spent
$122.6M
To programs
85%
Net assets
$129.6M
By yearFY2020–FY2025
Revenue
$120.3M
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$117.1M
FY2021$116.3M
FY2022$115.7M
FY2023$120.3M
FY2024$117.0M
FY2025$132.4M
Expenses
$122.6M
FY2023▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$110.4M
FY2021$109.4M
FY2022$117.9M
FY2023$122.6M
FY2024$136.0M
FY2025$145.0M
Net assets
$129.6M
FY2023▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$127.2M
FY2021$145.7M
FY2022$125.7M
FY2023$129.6M
FY2024$125.7M
FY2025$114.6M

From the FY2023 Form 990 (year ending August 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Apr 1948.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $103.6M Management & general 13% · $16.2M Fundraising 2% · $2.8M

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

37 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President and Trustee
$392,300Pt VII · Sec A
Former President and Trustee
$361,075Pt VII · Sec A
CFO & VP of Finance
$254,557Pt VII · Sec A
VP of Intercollegiate Athletics
$202,900Pt VII · Sec A
Dean Nicolais School of Business
$187,352Pt VII · Sec A
VP Workplace Culture and Inclusion
$183,206Pt VII · Sec A
Professor
$178,702Pt VII · Sec A
VP Internat. and Campus Life
$178,093Pt VII · Sec A

Angelo Araimo’s $393K as Former President is at the 25th 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
Richard Guarasci————$453,476—
Richard Guarasci Thru 062019—————$447,986
Angelo G Araimo—$393,509$392,300$247,540$202,418$200,732
Angelo Araimo$393,120—————
Joel W Martin——$361,075$351,862$392,351$192,003
Jeffrey Doggett$286,329—————
Donald Copeland$275,383$221,573$151,527———
John a Carrescia$260,721$258,710$254,557$243,127$243,073$228,045

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

Programs and updates

Educates students for life and careers through a comprehensive curriculum.

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3 programs · $103.6M · in their own filed words · FY2022
01

Instruction and Scholarships/Fellowships

Wagner college serves 1,947 students (fall 2022 semester). Wagner offers programs in humanities, performing and visual arts, professional programs, the sciences, social sciences and interdisciplinary programs.

$63.4Mprogram expense
02

Student Services and Academic Support

Student services for 1,947 students include dean of students, academic advisement, admissions, chaplain, career planning, health services, financial aid, orientation, registrar counseling, student government, student activities board, campus life, and security, as well as athletic services consisting of 24 varsity sports teams for men…

$25.8Mprogram expense
03

Auxiliary Services

Wagner college provides residence and dining services to approximately 80% of full-time undergraduate students.

$14.3Mprogram 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$6K
Grants paid · 3 grants · $3.3M · 2019–2021
Unitemized GrantFY2021$1,850,466
Unitemized GrantFY2020$771,811
Unitemized GrantFY2019$716,449

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$120.3M
Ln 12
Fees for servicesLn 2g$103.4M
Gifts and grantsLn 1h$12.1M
Investment incomeLn 3$3.1M
Money outPt IX
$122.6M
Ln 25
Programscol B$103.6M
Managementcol C$16.2M
Fundraisingcol D$2.8M
Owns and owesPt X
$129.6M
net assets · Ln 32
Cash and savingsLn 1–2$14.2M
Total assetsLn 16$279.1M
LiabilitiesLn 26$149.5M
PeoplePt VI, VII
37
listed · VII A
PaidVII A13
Voting boardVI 1a24
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.1M
Government grantsLn 1e$670K
Noncash giftsLn 1g$145K
Fundraising eventsLn 1c$19K
Fees for servicesLn 2g$103.4M
Investment incomeLn 3$3.1M
Other incomeLn 4–11$1.6M
Gains on assetsLn 7$381K
Total revenueLn 12$120.3M
Assets in detailPt X, end of year
SavingsLn 2$14.2M
Cash and savings togetherLn 1–2$14.2M
InvestmentsLn 11–13$110.7M
Land, buildings, equipmentLn 10c$87.2M
Other assetsLn 15$59.6M
Total assetsLn 16$279.1M
LiabilitiesLn 26$149.5M
Net assetsLn 32$129.6M
OperationsPt I, VI
EmployeesI 51,131
VolunteersI 630
Fiscal year endsHeaderAugust
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 FY23End FY23
Cash and savingsLn 1–2$22.0M$14.2M
InvestmentsLn 11–13$102.9M$110.7M
Land, buildings, equipmentLn 10c$68.4M$87.2M
Total assetsLn 16$273.9M$279.1M
LiabilitiesLn 26$148.2M$149.5M
Net assetsLn 32$125.7M$129.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$45.6M$45.6M
Pay of current officers, directors and key staffLn 5$1.6M$598K$1.0M
Other salaries and wagesLn 7$27.7M$20.8M$5.5M$1.4M
Pension plan contributionsLn 8$2.3M$1.7M$452K$113K
Other employee benefitsLn 9$7.5M$5.6M$1.5M$376K
Payroll taxesLn 10$2.1M$1.6M$422K$106K
Legal feesLn 11b$243K$243K
Accounting feesLn 11c$209K$209K
Investment management feesLn 11f$332K$332K
Other fees for servicesLn 11g$1.3M$941K$251K$63K
Advertising and promotionLn 12$85K$64K$17K$4K
Office expensesLn 13$9.1M$9.1M
Information technologyLn 14$1.0M$766K$204K$51K
OccupancyLn 16$5.7M$4.2M$1.1M$283K
TravelLn 17$2.1M$1.6M$420K$105K
Conferences, conventions and meetingsLn 19$265K$199K$53K$13K
InterestLn 20$2.5M$2.5M
Depreciation, depletion and amortizationLn 22$4.6M$3.4M$911K$228K
InsuranceLn 23$1.1M$453K$680K
Other expenses (24a–d)Ln 24$7.2M$6.9M$285K$71K
Total functional expensesLn 25$122.6M$103.6M$16.2M$2.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $132.4M$145.0M−$12.6M$114.6M 990 PDF
FY2024 $117.0M$136.0M−$19.0M$125.7M 990 PDF
FY2023 Viewing $120.3M$122.6M−$2.3M$129.6M 990 PDF
FY2022 $115.7M$117.9M−$2.1M$125.7M 990 PDF
FY2021 $116.3M$109.4M$6.9M$145.7M 990 PDF
FY2020 $117.1M$110.4M$6.7M$127.2M 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 FY2023 990 (6 parts)
Part I · Summary $120,307,621 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,061,218$12,106,937
I-9 Program service revenuePrior year $100,584,184$103,444,495
I-10 Investment incomePrior year $4,583,663$3,141,978
I-11 Other revenuePrior year $494,571$1,614,211
I-12 Total revenuePrior year $115,723,636$120,307,621
I-13 Grants and similar amounts paidPrior year $44,188,212$45,611,800
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $39,753,765$41,205,286
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $33,931,567$35,743,715
I-18 Total expensesPrior year $117,873,544$122,560,801
I-19 Revenue less expensesPrior year −$2,149,908−$2,253,180
Part VI · Governance 23 of 24 board members independent, 2 to look at
VI-1a Voting members of the governing body24
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 $120,307,621 across 12 lines filed
Lines not itemized here account for $960,770 of total revenue; see the IRS return.
VIII-1c Fundraising events$18,625
VIII-1e Government grants$669,906
VIII-1f All other contributions, gifts and grants$11,418,406
VIII-1g Noncash contributions (included above)$145,422
VIII-1h Total contributions, gifts and grants$12,106,937
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $103,404,495 · Unrelated business $40,000$103,444,495
VIII-3 Investment incomeExcluded from tax $2,760,667$2,760,667
VIII-6 Net rental income or lossExcluded from tax $100,000$100,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax $381,311$381,311
VIII-8 Net income from fundraising eventsExcluded from tax −$10,109−$10,109
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $563,550$563,550
VIII-12 Total revenueRelated to mission $103,404,495 · Unrelated business $42,000 · Excluded from tax $4,754,189$120,307,621
Part IX · Statement of functional expenses $122,560,801 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $45,611,800$45,611,800
IX-5 Pay of current officers, directors and key staffPrograms $598,335 · Management $1,006,943$1,605,278
IX-7 Other salaries and wagesPrograms $20,787,086 · Management $5,543,222 · Fundraising $1,385,807$27,716,115
IX-8 Pension plan contributionsPrograms $1,695,957 · Management $452,255 · Fundraising $113,064$2,261,276
IX-9 Other employee benefitsPrograms $5,633,679 · Management $1,502,314 · Fundraising $375,579$7,511,572
IX-10 Payroll taxesPrograms $1,583,279 · Management $422,213 · Fundraising $105,553$2,111,045
IX-11b Legal feesManagement $242,802$242,802
IX-11c Accounting feesManagement $208,966$208,966
IX-11f Investment management feesManagement $332,432$332,432
IX-11g Other fees for servicesPrograms $940,577 · Management $250,820 · Fundraising $62,705$1,254,102
IX-12 Advertising and promotionPrograms $63,617 · Management $16,964 · Fundraising $4,241$84,822
IX-13 Office expensesPrograms $9,106,253$9,106,253
IX-14 Information technologyPrograms $765,994 · Management $204,265 · Fundraising $51,066$1,021,325
IX-16 OccupancyPrograms $4,243,742 · Management $1,131,665 · Fundraising $282,916$5,658,323
IX-17 TravelPrograms $1,576,536 · Management $420,410 · Fundraising $105,102$2,102,048
IX-19 Conferences, conventions and meetingsPrograms $198,936 · Management $53,049 · Fundraising $13,262$265,247
IX-20 InterestManagement $2,533,198$2,533,198
IX-22 Depreciation, depletion and amortizationPrograms $3,417,038 · Management $911,210 · Fundraising $227,803$4,556,051
IX-23 InsurancePrograms $453,428 · Management $680,142$1,133,570
IX-24 Other expenses (24a–d)Programs $6,888,177 · Management $285,118 · Fundraising $71,281$7,244,576
IX-25 Total functional expensesPrograms $103,564,434 · Management $16,197,988 · Fundraising $2,798,379$122,560,801
Part X · Balance sheet $279,087,461 assets, 19 lines filed
Asset lines not itemized here account for $952,885; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $21,965,486$14,213,684
X-3 Pledges and grants receivableStart of year $349,851$391,558
X-4 Accounts receivableStart of year $3,784,139$4,453,999
X-8 Inventories for sale or useStart of year $63,394$70,344
X-9 Prepaid expenses and deferred chargesStart of year $1,465,685$1,539,773
X-10c Land, buildings and equipment, netStart of year $68,401,070$87,150,401
X-11 Publicly traded securitiesStart of year $91,637,755$107,714,924
X-12 Other securitiesStart of year $11,214,741$2,999,329
X-15 Other assetsStart of year $73,632,468$59,600,564
X-16 Total assetsStart of year $273,891,929$279,087,461
X-17 Accounts payable and accrued expensesStart of year $4,125,592$6,756,609
X-19 Deferred revenueStart of year $17,715,344$17,555,557
X-20 Tax-exempt bond liabilitiesStart of year $115,912,515$115,824,810
X-25 Other liabilitiesStart of year $7,970,351$7,090,937
X-26 Total liabilitiesStart of year $148,219,855$149,509,330
X-27 Net assets without donor restrictionsStart of year $31,307,131$15,523,193
X-28 Net assets with donor restrictionsStart of year $94,364,943$114,054,938
X-32 Total net assets or fund balancesStart of year $125,672,074$129,578,131
X-33 Total liabilities and net assetsStart of year $273,891,929$279,087,461
Part XI · Reconciliation of net assets $129,578,131 net assets at year end
XI-1 Total revenue$120,307,621
XI-2 Total expenses$122,560,801
XI-3 Revenue less expenses−$2,253,180
XI-4 Net assets at start of year$125,672,074
XI-5 Net unrealized gains (losses) on investments$6,184,546
XI-9 Other changes in net assets−$25,309
XI-10 Net assets at end of year$129,578,131

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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