Centenary University FY2021 filing

Tax-deductible

Hackettstown, NJ501(c)(3)Since 1867Colleges & UniversitiesEIN 22-1500484Revenue $54.1M in FY2021

On file with the IRScentenaryuniversity.edu400 Jefferson St, 07840-2184 · Hackettstown, NJTax-exempt since May 1960School — 170(b)(1)(A)(ii)

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Centenary University delivers accredited degree programs and comprehensive learning experiences to prepare students for regional and global professions of critical thought and purposeful action within a supportive environment immersed in a culture of service.significant activities for the year included exploring new programmatic and revenue generating opportunities for the University. Centenary launched its master of arts in happiness studies in fall 2022, developed an RN to bsn program scheduled to launch in fall 2023, established a relationship with a local community college to house their students on the Centenary campus and exploring/developing academic programming for middle and high school students during the summer.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$1.2M 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $358K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
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
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
18
named funders · $421K
Looks good: 18 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$39.3M
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54.1M
-6% vs prior year
Spent
$53.1M
To programs
91%
Net assets
−$4.3M
By yearFY2020–FY2024
Revenue
$54.1M
FY2021▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$57.8M
FY2021$54.1M
FY2022$56.2M
FY2023$51.9M
FY2024$53.3M
Expenses
$53.1M
FY2021▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$53.8M
FY2021$53.1M
FY2022$57.5M
FY2023$56.5M
FY2024$54.1M
Net assets
−$4.3M
FY2021▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2020−$6.6M
FY2021−$4.3M
FY2022−$9.2M
FY2023−$13.0M
FY2024−$14.6M

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 (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1960.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $48.5M Management & general 8% · $4.2M Fundraising 1% · $491K

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

30 people listed on the 990; $1.2M 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
$306,618Pt VII · Sec A
VP Busi & Fin/CFO
$191,864Pt VII · Sec A
Pres. Emeritus/Prof of Bus
$150,040Pt VII · Sec A
VP Academic Aff/Cao
$138,764Pt VII · Sec A
VP Enrollment
$131,266Pt VII · Sec A
VP for Student Life
$129,176Pt VII · Sec A
Controller
$111,691Pt VII · Sec A
$0Pt VII · Sec A

Denton Stargel’s $197K as VP Business & Finance/CFO is at the 35th percentile of top reported officer pay among 3683 $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

NameFY2024FY2023FY2022FY2021FY2020
Bruce Murphy$178,694$336,618$336,618$306,618—
David Haney————$299,010
Denton Stargel$196,561$191,764—$191,864$191,925
Denton Stargel - VP Business——$191,864——
Dr Dale Caldwell$151,359————
Barbara Lewthwaite—$124,309—$150,040$147,384
Amy D'Olivo - VP Academic——$149,592——
Kerry Mullins-Montane$145,613$147,331$139,156$129,176$124,176

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

Offers accredited degree programs and learning experiences to prepare students for careers and service.

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Provided by the organization

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2 programs · $48.5M · in their own filed words · FY2020
01

Instructional

Centenary university is a community of learners distinguished by a diverse student body, a dedicated faculty and staff and stimulating education opportunities. The university is committed to quality liberal arts and career studies education to engage students in learning and prepare them for a satisfying career, successful lives…

$40.5Mprogram expense
02

Auxiliary services at centenary university are organized to support student activities and provide student housing and other facilities and service for the benefit of the centenary university students. University dormitories consist of 8 residence halls and provide living quarters for approximately 600 students.

$7.9Mprogram 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 · FY2024
See all 18 funders →
Grants paid · 8 grants · $103.7M · 2019–2023
Unitemized GrantFY2023$19,324,813
Unitemized GrantFY2022$19,829,295
Unitemized GrantFY2021$21,376,547
Unitemized GrantFY2021$2,042,327
Unitemized GrantFY2020$20,381,599
Unitemized GrantFY2020$811,177
Unitemized GrantFY2019$19,531,364
Unitemized GrantFY2019$408,787

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$54.1M
Ln 12
Fees for servicesLn 2g$46.9M
Gifts and grantsLn 1h$6.1M
Investment incomeLn 3$828K
Money outPt IX
$53.1M
Ln 25
Programscol B$48.5M
Managementcol C$4.2M
Fundraisingcol D$491K
Owns and owesPt X
−$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$35.0M
LiabilitiesLn 26$39.3M
PeoplePt VI, VII
30
listed · VII A
PaidVII A7
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.1M
Government grantsLn 1e$5.2M
Noncash giftsLn 1g$253K
Fees for servicesLn 2g$46.9M
Investment incomeLn 3$828K
Other incomeLn 4–11$272K
Gains on assetsLn 7$557K
Total revenueLn 12$54.1M
Assets in detailPt X, end of year
CashLn 1$382K
SavingsLn 2$691K
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$17.2M
Land, buildings, equipmentLn 10c$11.2M
Other assetsLn 15$789K
Total assetsLn 16$35.0M
LiabilitiesLn 26$39.3M
Net assetsLn 32−$4.3M
OperationsPt I, VI
EmployeesI 5640
VolunteersI 6175
Fiscal year endsHeaderJune
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$1.6M$1.1M
InvestmentsLn 11–13$11.5M$17.2M
Land, buildings, equipmentLn 10c$13.2M$11.2M
Total assetsLn 16$32.7M$35.0M
LiabilitiesLn 26$39.3M$39.3M
Net assetsLn 32−$6.6M−$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$21.2M$21.2M
Pay of current officers, directors and key staffLn 5$546K$143K$287K$116K
Other salaries and wagesLn 7$13.0M$11.5M$1.2M$246K
Other employee benefitsLn 9$1.3M$968K$293K$33K
Payroll taxesLn 10$1.4M$852K$573K$25K
Legal feesLn 11b$133K$133K
Accounting feesLn 11c$110K$110K
Investment management feesLn 11f$80K$80K
Other fees for servicesLn 11g$801K$624K$174K$3K
Advertising and promotionLn 12$1.7M$1.7M$3K
Office expensesLn 13$1.1M$857K$176K$32K
Information technologyLn 14$2.4M$1.9M$409K$35K
RoyaltiesLn 15$9K$9K
OccupancyLn 16$4.1M$3.8M$339K
TravelLn 17$46K$46K$88$45
Conferences, conventions and meetingsLn 19$5K$4K$828
InterestLn 20$213K$203K$10K
Depreciation, depletion and amortizationLn 22$1.9M$1.8M$93K
InsuranceLn 23$131K$107K$23K
Other expenses (24a–d)Ln 24$2.8M$2.6M$225K$102
All other expensesLn 24e$94K$92K$2K
Total functional expensesLn 25$53.1M$48.5M$4.2M$491K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $53.3M$54.1M−$783K−$14.6M 990 PDF
FY2023 $51.9M$56.5M−$4.6M−$13.0M 990 PDF
FY2022 $56.2M$57.5M−$1.3M−$9.2M 990 PDF
FY2021 Viewing $54.1M$53.1M$1.0M−$4.3M 990 PDF
FY2020 $57.8M$53.8M$3.9M−$6.6M 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 $54,102,047 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,903,877$6,064,509
I-9 Program service revenuePrior year $48,036,781$46,937,426
I-10 Investment incomePrior year $81,244$828,155
I-11 Other revenuePrior year $738,555$271,957
I-12 Total revenuePrior year $57,760,457$54,102,047
I-13 Grants and similar amounts paidPrior year $19,940,151$21,192,776
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $17,325,645$16,250,685
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,552,201$15,655,824
I-18 Total expensesPrior year $53,817,997$53,099,285
I-19 Revenue less expensesPrior year $3,942,460$1,002,762
Part VI · Governance 17 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $54,102,047 across 10 lines filed
VIII-1e Government grants$5,197,669
VIII-1f All other contributions, gifts and grants$866,840
VIII-1g Noncash contributions (included above)$252,699
VIII-1h Total contributions, gifts and grants$6,064,509
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $46,937,426$46,937,426
VIII-3 Investment incomeExcluded from tax $271,627$271,627
VIII-6 Net rental income or lossExcluded from tax $50,198$50,198
VIII-7 Net gain or loss on sales of assetsExcluded from tax $556,528$556,528
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $221,759$221,759
VIII-12 Total revenueRelated to mission $46,937,426 · Unrelated business $0 · Excluded from tax $1,100,112$54,102,047
Part IX · Statement of functional expenses $53,099,285 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $21,192,776$21,192,776
IX-5 Pay of current officers, directors and key staffPrograms $143,464 · Management $286,707 · Fundraising $116,148$546,319
IX-7 Other salaries and wagesPrograms $11,496,047 · Management $1,218,895 · Fundraising $245,517$12,960,459
IX-9 Other employee benefitsPrograms $968,073 · Management $292,957 · Fundraising $32,984$1,294,014
IX-10 Payroll taxesPrograms $851,680 · Management $573,068 · Fundraising $25,145$1,449,893
IX-11b Legal feesManagement $133,035$133,035
IX-11c Accounting feesManagement $109,986$109,986
IX-11f Investment management feesManagement $80,133$80,133
IX-11g Other fees for servicesPrograms $623,578 · Management $173,758 · Fundraising $3,293$800,629
IX-12 Advertising and promotionPrograms $1,733,050 · Management $3,314$1,736,364
IX-13 Office expensesPrograms $856,560 · Management $175,875 · Fundraising $32,372$1,064,807
IX-14 Information technologyPrograms $1,945,631 · Management $409,379 · Fundraising $35,357$2,390,367
IX-15 RoyaltiesPrograms $8,575$8,575
IX-16 OccupancyPrograms $3,780,938 · Management $339,173$4,120,111
IX-17 TravelPrograms $45,933 · Management $88 · Fundraising $45$46,066
IX-19 Conferences, conventions and meetingsPrograms $3,684 · Management $828$4,512
IX-20 InterestPrograms $203,120 · Management $10,357$213,477
IX-22 Depreciation, depletion and amortizationPrograms $1,841,897 · Management $92,753$1,934,650
IX-23 InsurancePrograms $107,251 · Management $23,465$130,716
IX-24 Other expenses (24a–d)Programs $2,563,596 · Management $224,885 · Fundraising $102$2,788,583
IX-24e All other expensesPrograms $92,281 · Management $1,532$93,813
IX-25 Total functional expensesPrograms $48,458,134 · Management $4,150,188 · Fundraising $490,963$53,099,285
Part X · Balance sheet $35,003,716 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $253,658$382,175
X-2 Savings and temporary cash investmentsStart of year $1,386,318$690,879
X-3 Pledges and grants receivableStart of year $3,297,558$2,524,414
X-4 Accounts receivableStart of year $1,745,512$1,631,808
X-8 Inventories for sale or useStart of year $8,597$9,090
X-9 Prepaid expenses and deferred chargesStart of year $481,474$576,223
X-10c Land, buildings and equipment, netStart of year $13,190,184$11,221,016
X-11 Publicly traded securitiesStart of year $11,528,449$17,178,633
X-15 Other assetsStart of year $789,726$789,478
X-16 Total assetsStart of year $32,681,476$35,003,716
X-17 Accounts payable and accrued expensesStart of year $2,057,270$3,387,650
X-19 Deferred revenueStart of year $2,512,234$1,652,194
X-20 Tax-exempt bond liabilitiesStart of year $97,222$24,562
X-24 Unsecured notes and loans payableStart of year $2,715,554$2,311,898
X-25 Other liabilitiesStart of year $29,311,231$29,577,524
X-26 Total liabilitiesStart of year $39,317,936$39,328,391
X-27 Net assets without donor restrictionsStart of year −$16,065,656−$16,117,624
X-28 Net assets with donor restrictionsStart of year $9,429,196$11,792,949
X-32 Total net assets or fund balancesStart of year −$6,636,460−$4,324,675
X-33 Total liabilities and net assetsStart of year $32,681,476$35,003,716
Part XI · Reconciliation of net assets −$4,324,675 net assets at year end
XI-1 Total revenue$54,102,047
XI-2 Total expenses$53,099,285
XI-3 Revenue less expenses$1,002,762
XI-4 Net assets at start of year−$6,636,460
XI-5 Net unrealized gains (losses) on investments$2,985,742
XI-9 Other changes in net assets−$1,676,719
XI-10 Net assets at end of year−$4,324,675

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

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