Alvernia University

Analysis

Alvernia University is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Alvernia University reported income of $110.6m and spending of $104.7m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $87.5m to $110.6m (+26%), an average of +6.0% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Alvernia 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 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include American Musical & Dramatic Academy ($110.1m), Oda Primary Health Care Network Inc ($111.5m) and The Thresholds ($109.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $3.2m (3.0% of expenses). Other salaries and wages came to $23.2m. At year end it held assets of $219.4m against liabilities of $107.3m, net assets of $112.1m. It reported 1,423 employees.