Hofstra University

Analysis

Hofstra University is a registered charity in United States, based in Hempstead, NY. It received its IRS tax-exemption ruling in December 1942, 84 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 August 2023, Hofstra University reported income of $653.5m and spending of $617.4m, spending 94% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $592.9m to $653.5m (+10%), an average of +2.5% a year. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hofstra 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 NY. Charities of a similar size with the same main cause include Institute of Electrical and Electronics Engineers Inc ($650.2m), Western Governors University ($654.4m) and Saint Josephs University ($636.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 8.5% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $6.2m (1.0% of expenses). Other salaries and wages came to $209.1m. It paid $420k in professional fundraising fees. At year end it held assets of $1.47bn against liabilities of $395.0m, net assets of $1.07bn. It reported 5,677 employees.