Iona University

Analysis

Iona University is a registered charity in United States, based in New Rochelle, NY. It received its IRS tax-exemption ruling in July 2014, 12 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, Iona University reported income of $183.3m and spending of $184.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $168.8m to $183.3m (+8.6%), an average of +2.1% a year. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Iona 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 99th percentile within NY. Charities of a similar size with the same main cause include Tuskegee University ($183.1m), Oral Roberts University ($184.0m) and University of Redlands ($182.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $1.9m (1.0% of expenses). Other salaries and wages came to $51.6m. It paid $46k in professional fundraising fees. At year end it held assets of $450.9m against liabilities of $131.5m, net assets of $319.4m. It reported 1,625 employees.