Assumption University

Overview

Mission

Assumption university is a comprehensive, catholic liberal arts institution sponsored by the augustinians of the assumption. We awaken in students a sense of wonder, discovery, and purpose, forming graduates known for their intellectual seriousness, thoughtful citizenship, and devotion to the common good. Our curricular and co-curricular programs provide students with an education that shapes their souls, forms them intellectually, and prepares them for meaningful careers. We are a diverse community that welcomes different points of view and embraces all who share our mission. Enlivened by the catholic affirmation of the harmony of faith and reason, and by the pursuit of the truth in the company of friends, an assumption education transforms the mind and hearts of students.

What it reported doing in 2024

Higher education: offers comprehensive college degree programs at both the undergraduate and graduate level. In fiscal year 2025, a total of 370 undergraduate degrees, 151 graduate degrees and 25 certificates were awarded.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
042105776
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Worcester, MA, USA
Phone
5087677000
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: $4.41 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • 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: 100%; rating input score 100; 76th 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: -6.6%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.7% of spending went to programs
  • Governance: 24 of 24 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $128.9M in reported program spending
  • Leadership: top reported pay $544K · 41 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $12.3M reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

41 people listed

Highest reported compensation

  • GREGORY WEINER (PRESIDENT): $543,851 total reported compensation
  • PETER WELLS (VP FINANCE & ADMIN (THRU 10/28/24)): $346,536 total reported compensation
  • WILLIAM BOFFI (VP ENROLLMENT): $301,407 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.