University of Hartford

Nonprofit profile at a glance

EIN
060731360
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2012
Location
West Hartford, CT, USA
Phone
8607685691
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
University or Technological Institute

Official website

Reported finances

Revenue
$305,633,140
Expenses
$314,159,905
Assets
$423,075,521
Liabilities
$207,605,660

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

44 people listed

Executive titles in this filing

  • LAWRENCE P WARD (PRESIDENT (AS OF 07/24))
  • STEPHEN M MULREADY (INTERIM PRESIDENT (UNTIL 06/24))

Highest reported compensation

  • LAWRENCE P WARD (PRESIDENT (AS OF 07/24)): $344,163 total reported compensation
  • KATHRYN E PENDERGAST (VP DEVELOPMENT): $315,772 total reported compensation
  • KATHERINE A BLACK (PROVOST): $304,746 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dedicated to learning, personal growth, knowledge creation, and the betterment of society. The university engages students in aquiring the knowledge, skills, and values necessary to thrive in and contribute to a pluralistic, complex world.

What it reported doing in 2024

The university of hartford is an independent, co-educational, non-sectarian institution that currently enrolls approximately 5,983 full and part-time students that represent 42 u.s. States and 53 foreign countries. The university provides instruction through seven schools, offering 85 bachelor's degree majors, 43 master's degree programs, 11 associate degree programs, and 6 doctorate degrees, as well as 37 undergraduate and graduate certificates and diplomas.

Operating model

Revenue model
Earned-program. 92% 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 56% for direct work, and 44% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

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

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 83
  • Accountability: 93
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.3%; rating input score 93
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: $2.61 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95%; rating input score 95; 34th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 4 of 8 controls in place; rating input score 50
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 87.5%; rating input score 88; 34th 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: -2.8%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 93.3% of revenue deployed · 89.9% of spending went to programs
  • Governance: 21 of 24 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $282.5M in reported program spending
  • Leadership: top reported pay $344K · 44 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $39.5M reported
  • Consistency: 45 of 46 current checks pass · 1 finding to review
  • Schedules: 13 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Transparency & Controls: Foreign activity oversight: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.