Pratt Institute

What it reported doing in 2024

Student services: expenses incurred for student' activities and events by the following departments: admissions, registrar, bursar, financial aid, athletics, international affairs, health & counseling, career services and other student support. The student affairs division provides programs and services that promote student personal and professional development, fosters a campus environment that is conducive to student learning and advocates for and supports students as they meet academic and personal challenges. The office of international affairs provides services to international students from over 75 countries as well as j-1 exchange visitors, exchange students, professors, and scholars. The office is responsible to ensure the institute's compliance with requirements of the department of homeland security and department of state.institutional support: includes expenditures primarily incurred by the offices of security, strategic planning, institutional research, information technology, marketing, finance, and other general expenses of the institution.operation and maintenance of plant: includes expenses for the maintenance and upkeep of buildings, management and support of the operations of physical plant facilities, utilities, cleaning and other related functions, capital renovation and deferred maintenance projects. The institute is currently undergoing a major upgrade to its aging steam plant in order to reduce carbon emissions and comply with local carbon reduction requirements.public service: the institute plays an active role in community-based planning and research programs that empower local residents and businesses to develop robust urban centers in which to work, play and live. Community based programs include the long-running saturday art school and pratt young scholars program. Services of the spatial analysis and visualization lab are available to the community and regularly provides gis technical assistance to New York city-based nonprofit, civic, and community-based planning organizations. Savi maintains a database of spatial and informational data sets, available for public use on mostnetworked computers on the brooklyn campus. Pratt center for community development: established in 1963, the center works for a more sustainable and equitable city in partnership with community-based organizations, small businesses, and policymakers.

Financial Efficiency

• Mission deployment rate: 87.3%; rating input score 87
• Program expense ratio: 86.3%; rating input score 86
• Fundraising efficiency: $3.15 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 88%; rating input score 88; 33rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.9%; rating input score 19; 19th percentile among comparable filings
• Total-asset coverage ratio: 2.21; rating input score 65; 65th percentile among comparable filings
• Liabilities to assets ratio: 0.26; rating input score 60; 60th percentile among comparable filings
• Officer compensation ratio: 1.5%; rating input score 66; 66th percentile among comparable filings

Growth

• Program expense growth: 4.5% per year; rating input score 100; 35th percentile among comparable filings
• Revenue growth: 4.8% per year; rating input score 100; 41st percentile among comparable filings
• Asset growth: 4.1% per year; rating input score 100; 28th percentile among comparable filings