Sacred Heart University

Analysis

Sacred Heart University is a registered charity in United States, based in Fairfield, CT. It received its IRS tax-exemption ruling in February 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, Sacred Heart University reported income of $509.0m and spending of $424.6m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $357.9m to $509.0m (+42%), an average of +9.2% a year. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sacred Heart 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 The Trustees of the Stevens Institute of Technology ($505.9m), The Big 12 Conference Inc ($510.7m) and University of Wisconsin Foundation ($490.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $4.5m (1.1% of expenses). Other salaries and wages came to $111.2m. It paid $523k in professional fundraising fees. At year end it held assets of $1.36bn against liabilities of $588.6m, net assets of $767.6m. It reported 5,403 employees.