Husson University

Analysis

Husson University is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in August 1964, 62 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Husson University reported income of $82.0m and spending of $80.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $73.6m to $82.0m (+11%), an average of +2.7% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Husson University sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within ME. Charities of a similar size with the same main cause include Bridgewater College ($82.0m), Evans Scholars Foundation ($82.1m) and Lawrence Technological University ($81.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $876k (1.1% of expenses). Other salaries and wages came to $28.8m. At year end it held assets of $149.6m against liabilities of $39.0m, net assets of $110.6m. It reported 1,379 employees.