Fairfield University

Analysis

Fairfield University is a registered charity in United States, based in Fairfield, CT. It received its IRS tax-exemption ruling in October 1943, 83 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, Fairfield University reported income of $424.5m and spending of $384.7m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $378.4m to $424.5m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fairfield University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CT. Charities of a similar size with the same main cause include Corporation of Gonzaga University ($424.2m), Indiana University Foundation ($426.1m) and Williams College ($424.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.1% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $5.6m (1.4% of expenses). Other salaries and wages came to $111.8m. It paid $147k in professional fundraising fees. At year end it held assets of $1.15bn against liabilities of $368.3m, net assets of $777.7m. It reported 3,725 employees.