Assumption University

Analysis

Assumption University is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in July 1953, 73 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 May 2023, Assumption University reported income of $116.9m and spending of $122.0m, spending 104% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $112.1m to $116.9m (+4.2%), an average of +1.0% a year. The sharpest change came in the year to May 2021, when income rose by 26%. 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, Assumption University sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Moody Bible Institute of Chicago ($116.7m), Gateway Community Charters ($117.1m) and Saint Peters University ($116.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 6.9% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $1.7m (1.4% of expenses). Other salaries and wages came to $28.3m. It paid $18k in professional fundraising fees. At year end it held assets of $237.8m against liabilities of $47.6m, net assets of $190.2m. It reported 1,107 employees.