Immaculata University: Nonprofit Profile, Financials & Form 990 (EIN 23-1352648)

Revenue by fiscal year
FY2020	$49.8M
FY2021	$52.7M
FY2022	$55.8M
FY2023	$52.0M
FY2024	$55.2M
FY2025	$61.9M

Expenses by fiscal year
FY2020	$49.1M
FY2021	$46.6M
FY2022	$51.9M
FY2023	$51.8M
FY2024	$55.8M
FY2025	$58.0M

Net assets by fiscal year
FY2020	$31.2M
FY2021	$42.2M
FY2022	$40.6M
FY2023	$41.5M
FY2024	$42.7M
FY2025	$48.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in 0000.

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

Where the money goes

77 cents of each dollar spent went to programs.

77%

22%

Program services 77% · $44.5M Management & general 22% · $12.5M Fundraising 2% · $1.0M

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; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Barbara Lettiere

President

$211,522Pt VII · Sec A

Susan Arnold

VP of Advancement

$185,960Pt VII · Sec A

Amy Bosio

VP Finance & Administratio

$182,366Pt VII · Sec A

Patricia Canterino

VP for SD & Ua

$181,968Pt VII · Sec A

Steven Kendus

VP of Marketing and Commun

$159,220Pt VII · Sec A

Angela Tekely

Professor

$142,012Pt VII · Sec A

Jean Shingle PHD

Dean of Undergraduate Academic

$130,539Pt VII · Sec A

Dawn Burdsall

Exec Director Financial Planning

$124,921Pt VII · Sec A

Barbara Lettiere’s $212K as President is at the 41st 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Barbara Lettiere	$211,522	$233,665	$261,352	$256,040	$264,783	$272,242
Bruce Friedman	—	—	—	$200,132	$200,612	$162,526
Susan Arnold	$185,960	$185,961	$193,314	$184,161	$184,082	$184,039
Amy Bosio	$182,366	$182,589	$97,580	—	—	—
Patricia Canterino	$181,968	$179,498	$179,505	$170,382	$169,539	$169,528
Steven Kendus	$159,220	$154,237	—	—	—	—
Angela Tekely	$142,012	$133,491	$156,067	$147,581	$150,028	$142,900
Kerry Jones	—	—	$142,855	$141,595	$141,469	$140,169

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

Provides meals to students.

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3 programs · $44.5M · in their own filed words · FY2024

01

To educate and provide related services to students. In the fall term of academic year 2024/2025, this program benefitted 2,532 of whom 1,065 were traditional undergraduate and 880 graduate students. This program also contributed toward the graduation of 564 students during academic year 2024/2025.

$38.2Mprogram expense

02

To provide meals to students. In the fall of 2024, this programbenefitted 583 students.

$3.4Mprogram expense

03

To provide living quarters for students. In the fall term of academicyear 2024/2025, this program benefitted 558 students.

$2.9Mprogram 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 · FY2025

John C Allen Charitable TrustFY2025$2K

Creative Financial Group Ltd Charitable FoundationFY2025$1K

Total grants receivedfrom 2 funders$3K

Grants paid · 9 grants · $74.4M · 2019–2024

Unitemized GrantFY2024$14,783,290

Unitemized GrantFY2023$13,455,955

Unitemized GrantFY2022$12,112,340

Unitemized GrantFY2021$11,770,152

Unitemized GrantFY2021$1,587,360

Unitemized GrantFY2020$10,328,519

Unitemized GrantFY2020$513,590

Unitemized GrantFY2019$9,311,483

Unitemized GrantFY2019$492,500

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$61.9M

Ln 12

Fees for servicesLn 2g$50.8M

Gifts and grantsLn 1h$8.6M

Investment incomeLn 3$2.2M

Money outPt IX

$58.0M

Ln 25

Programscol B$44.5M

Managementcol C$12.5M

Fundraisingcol D$1.0M

Owns and owesPt X

$48.2M

net assets · Ln 32

Cash and savingsLn 1–2$1.8M

Total assetsLn 16$93.8M

LiabilitiesLn 26$45.7M

PeoplePt VI, VII

37

listed · VII A

PaidVII A10

Voting boardVI 1a26

IndependentVI 1b26

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$8.6M

Government grantsLn 1e$524K

Noncash giftsLn 1g$3.7M

Fundraising eventsLn 1c$103K

Fees for servicesLn 2g$50.8M

Investment incomeLn 3$2.2M

Other incomeLn 4–11$347K

Gains on assetsLn 7$486K

Total revenueLn 12$61.9M

Assets in detailPt X, end of year

CashLn 1$1.8M

Cash and savings togetherLn 1–2$1.8M

InvestmentsLn 11–13$30.6M

Land, buildings, equipmentLn 10c$58.2M

Other assetsLn 15$81K

Total assetsLn 16$93.8M

LiabilitiesLn 26$45.7M

Net assetsLn 32$48.2M

OperationsPt I, VI

EmployeesI 5965

VolunteersI 626

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$1.9M	$1.8M
InvestmentsLn 11–13	$30.0M	$30.6M
Land, buildings, equipmentLn 10c	$52.8M	$58.2M
Total assetsLn 16	$88.6M	$93.8M
LiabilitiesLn 26	$46.0M	$45.7M
Net assetsLn 32	$42.7M	$48.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$14.8M	$14.8M
Pay of current officers, directors and key staffLn 5	$1.2M	$200K	$796K	$201K
Other salaries and wagesLn 7	$17.4M	$13.5M	$3.5M	$429K
Pension plan contributionsLn 8	$510K	$357K	$131K	$22K
Other employee benefitsLn 9	$2.4M	$1.7M	$584K	$92K
Payroll taxesLn 10	$1.3M	$1.0M	$272K	$46K
Legal feesLn 11b	$81K		$81K
Accounting feesLn 11c	$71K		$71K
Investment management feesLn 11f	$91K		$91K
Other fees for servicesLn 11g	$3.2M	$2.0M	$1.2M	$13K
Advertising and promotionLn 12	$1.1M	$115K	$929K	$47K
Office expensesLn 13	$2.8M	$2.0M	$672K	$82K
Information technologyLn 14	$2.8M		$2.8M
TravelLn 17	$202K	$196K	$1K	$5K
InterestLn 20	$1.7M	$1.4M	$344K
Depreciation, depletion and amortizationLn 22	$4.0M	$3.2M	$804K
InsuranceLn 23	$582K	$460K	$123K
Other expenses (24a–d)Ln 24	$3.3M	$3.2M	$30K	$90K
All other expensesLn 24e	$309K	$238K	$70K
Total functional expensesLn 25	$58.0M	$44.5M	$12.5M	$1.0M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$61.9M	$58.0M	$4.0M	$48.2M	990 PDF
FY2024	$55.2M	$55.8M	−$652K	$42.7M	990 PDF
FY2023	$52.0M	$51.8M	$153K	$41.5M	990 PDF
FY2022	$55.8M	$51.9M	$4.0M	$40.6M	990 PDF
FY2021	$52.7M	$46.6M	$6.1M	$42.2M	990 PDF
FY2020	$49.8M	$49.1M	$676K	$31.2M	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 FY2025 990 (6 parts)

Part I · Summary $61,924,018 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,470,171$8,578,291

I-9 Program service revenuePrior year $47,760,003$50,757,966

I-10 Investment incomePrior year $1,996,736$2,240,378

I-11 Other revenuePrior year $932,190$347,383

I-12 Total revenuePrior year $55,159,100$61,924,018

I-13 Grants and similar amounts paidPrior year $13,455,995$14,783,290

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $21,969,869$22,872,035

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $20,385,249$20,306,505

I-18 Total expensesPrior year $55,811,113$57,961,830

I-19 Revenue less expensesPrior year −$652,013$3,962,188

Part VI · Governance 26 of 26 board members independent, no flags

VI-1a Voting members of the governing body26

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 $61,924,018 across 11 lines filed

Lines not itemized here account for $173,487 of total revenue; see the IRS return.

VIII-1c Fundraising events$103,410

VIII-1e Government grants$524,299

VIII-1f All other contributions, gifts and grants$7,950,582

VIII-1g Noncash contributions (included above)$3,687,926

VIII-1h Total contributions, gifts and grants$8,578,291

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $50,757,966$50,757,966

VIII-3 Investment incomeExcluded from tax $1,641,868$1,641,868

VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,234 · Excluded from tax $487,734$485,500

VIII-8 Net income from fundraising eventsExcluded from tax $25,988$25,988

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $137,712 · Unrelated business $114,926 · Excluded from tax $8,280$260,918

VIII-12 Total revenueRelated to mission $50,953,921 · Unrelated business $114,926 · Excluded from tax $2,276,880$61,924,018

Part IX · Statement of functional expenses $57,961,830 across 19 lines filed

IX-2 Grants to domestic individualsPrograms $14,783,290$14,783,290

IX-5 Pay of current officers, directors and key staffPrograms $199,732 · Management $796,121 · Fundraising $201,019$1,196,872

IX-7 Other salaries and wagesPrograms $13,501,229 · Management $3,512,796 · Fundraising $428,530$17,442,555

IX-8 Pension plan contributionsPrograms $356,503 · Management $131,364 · Fundraising $22,255$510,122

IX-9 Other employee benefitsPrograms $1,721,569 · Management $583,570 · Fundraising $92,405$2,397,544

IX-10 Payroll taxesPrograms $1,006,493 · Management $272,106 · Fundraising $46,343$1,324,942

IX-11b Legal feesManagement $81,414$81,414

IX-11c Accounting feesManagement $70,676$70,676

IX-11f Investment management feesManagement $90,711$90,711

IX-11g Other fees for servicesPrograms $2,007,525 · Management $1,163,585 · Fundraising $12,667$3,183,777

IX-12 Advertising and promotionPrograms $114,849 · Management $929,208 · Fundraising $47,224$1,091,281

IX-13 Office expensesPrograms $2,033,017 · Management $671,736 · Fundraising $81,903$2,786,656

IX-14 Information technologyManagement $2,804,730$2,804,730

IX-17 TravelPrograms $195,942 · Management $1,344 · Fundraising $4,782$202,068

IX-20 InterestPrograms $1,399,018 · Management $344,121$1,743,139

IX-22 Depreciation, depletion and amortizationPrograms $3,226,716 · Management $803,928$4,030,644

IX-23 InsurancePrograms $459,723 · Management $122,579$582,302

IX-24 Other expenses (24a–d)Programs $3,210,866 · Management $29,922 · Fundraising $89,536$3,330,324

IX-24e All other expensesPrograms $238,350 · Management $70,433$308,783

IX-25 Total functional expensesPrograms $44,454,822 · Management $12,480,344 · Fundraising $1,026,664$57,961,830

Part X · Balance sheet $93,841,797 assets, 17 lines filed

Asset lines not itemized here account for $21,701; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $1,853,906$1,838,799

X-3 Pledges and grants receivableStart of year $2,457,457$795,666

X-4 Accounts receivableStart of year $745,409$1,318,242

X-9 Prepaid expenses and deferred chargesStart of year $634,302$1,004,386

X-10c Land, buildings and equipment, netStart of year $52,809,651$58,187,690

X-11 Publicly traded securitiesStart of year $30,003,738$30,594,042

X-15 Other assetsStart of year $74,921$81,271

X-16 Total assetsStart of year $88,610,134$93,841,797

X-17 Accounts payable and accrued expensesStart of year $2,818,060$2,958,732

X-19 Deferred revenueStart of year $2,226,885$2,309,950

X-20 Tax-exempt bond liabilitiesStart of year $34,016,261$33,164,529

X-25 Other liabilitiesStart of year $2,576,024$2,411,624

X-26 Total liabilitiesStart of year $45,956,497$45,672,413

X-27 Net assets without donor restrictionsStart of year $16,641,439$20,019,313

X-28 Net assets with donor restrictionsStart of year $26,012,198$28,150,071

X-32 Total net assets or fund balancesStart of year $42,653,637$48,169,384

X-33 Total liabilities and net assetsStart of year $88,610,134$93,841,797

Part XI · Reconciliation of net assets $48,169,384 net assets at year end

XI-1 Total revenue$61,924,018

XI-2 Total expenses$57,961,830

XI-3 Revenue less expenses$3,962,188

XI-4 Net assets at start of year$42,653,637

XI-5 Net unrealized gains (losses) on investments$1,553,559

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$48,169,384

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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