EIN 16-0743140

Rochester Institute of Technology (RIT)

IRS 501(c) type
501(c)(3)
Num. employees
12,512
Year formed
1830
Most recent tax filings
2019-06
Financials as of 2019-06
Revenues
$846.3m
+$218k
0.0%
 
$621m: Prog svcs
 
$137m: Govt grants
 
$34m: Grants & donations
 
$55m: Misc other revenues
Expenses
$797.2m
+$117m
17.2%
 
$290m: Salaries, non-officers
 
$229m: Grants, US-people
 
$50m: Emp benef, other
 
$228m: Misc other expenses
Assets
$2b
+$60m
3.1%
 
$871m: Other sec
 
$657m: Bldg & equip
 
$249m: Stocks & bonds
 
$241m: Misc other assets
Liabilities
$519.4m
-$5m
-1.0%
 
$239m: Tax-exempt bonds
 
$179m: Other lia
 
$47m: Accts pay
 
$55m: Misc other liabilities
Description
Rochester Institute of Technology (RIT) is a private doctoral university located within the town of Henrietta in the Rochester, New York metropolitan area. RIT is composed of nine academic colleges, including National Technical Institute for the Deaf.

Program areas at RIT

Instruction and Academic Support - Established in 1829, RIT is one of the world's premier universities with an innovative and creative student body from all fifty states and over 100 countries. RIT total enrollment in Fall 2018 was approximately 19,050, which included approximately 15,950 undergraduate and 3,100 graduate students. Approximately 16,650 students are enrolled at RIT's main campus and the remainder at international locations. RIT is comprised of nine colleges and two degree-granting academic units offering 243 graduate and undergraduate programs. NTID (National Technical Institute for the Deaf), one of RIT's colleges, is the world's first and largest technical institute college for deaf students with approximately 1,200 students from the United States and abroad. Over the preceding 10 years, enrollment has increased from 16,496 students in the Fall of 2008 to 19,047 students in the Fall of 2018, an increase of 16%.
Research and Public Support - RIT engages in public service activities that benefit the general community in which it resides, including training, postsecondary education for the deaf and hard of hearing, and K-12 programs. RIT also conducts research to advance the body of knowledge, enhance student and faculty learning and build its reputation in the scientific and technical communities in support of, or in concert with, the University's exempt mission, while providing positive returns to our sponsoring partners. As articulated in RIT's strategic plan, the University continues to place emphasis on its revenue growth in the research portfolio.
Student and Auxiliary Services - Student services provide students with additional enrichment and educational opportunities. Such services include athletics, student health and admissions. Auxiliaries provide essential services to students in support of RIT's educational mission. These services include housing operations and dining services. Sales and services of auxiliary enterprises generated total revenue of $87.2 million, consistent with the prior year. Surpluses from auxiliary services support the operating budget of the University.

Form 990s for RIT

Fiscal year endingDate received by IRSFormPDF link
2019-062020-08-19990View PDF
2018-062019-12-27990View PDF
2017-062018-06-14990View PDF
2016-062017-10-05990View PDF
2015-062016-08-02990View PDF
...and 6 more Form 990s

Who funds Rochester Institute of Technology (RIT)

Grants from foundations and other nonprofits
GrantmakerGrantmaker tax periodDescriptionAmount
Fidelity Investments Charitable Gift Fund2019-06For Grant Recipient's Exempt Purposes$10,183,440
 Subscribe to view2016-12████$░░░,░░░
 Subscribe to view2018-12█████$░░░,░░░
...and 93 more grants received
Federal funding details
Federal agencyCFDA codeProgram nameAmount
Department of Education84.268FEDERAL DIRECT STUDENT LOANS$85,715,490
 Subscribe to view█████ ███ ██████$░░,░░░,░░░
 Subscribe to view███████ ████ ██ ███$░░,░░░,░░░
...and 160 more federal grants / contracts

Grants made by RIT

GranteeGrant descriptionGrant yearAmount
Greater Rochester Enterprise (GRE)Sponsorship2019-06$50,000
 Subscribe to view███ ██████2019-06$░░,░░░
 Subscribe to view█████ █████2019-06$░░,░░░
 Subscribe to view███ █████ █████, █████ █████2019-06$░░,░░░
 Subscribe to view████ ████, █████ ██████, ██ █████2019-06$░░,░░░
...and 9 more grants made

Financials for RIT

RevenuesFYE 06/2019
Total grants, contributions, etc.$170,205,785
Program services$620,953,039
Investment income and dividends$18,120,601
Tax-exempt bond proceeds$20,408
Royalty revenue$232,331
Net rental income$-129,192
Net gain from sale of non-inventory assets$27,659,425
Net income from fundraising events$-2,309
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$9,201,348
Total revenues$846,261,436

Personnel at RIT

NameTitleCompensationDate of data
Austin W. McChordFounder and Former Chief Executive Officer$02020-06-28
Brooks H. BowerChairman and Chief Executive Officer$02020-06-28
Donald J. TruesdaleChief Executive Officer$02020-06-28
 Subscribe to viewPresident and Chief Executive Officer$02020-06-28
 Subscribe to viewChairman and Chief Executive Officer$02020-06-28
...and 27 more key personnel

Organizations like RIT

OrganizationTypeLocationRevenue
Butler University501(c)(3)Indianapolis, IN$295,152,634
Loyola University Chicago (LUC)501(c)(3)Chicago, IL$856,981,800
The Medical College of Wisconsin (MCW)501(c)(3)Milwaukee, WI$1,258,883,721
Washington University in St. Louis (Wash. U)501(c)(3)Saint Louis, MO$4,096,488,220
Wesleyan University501(c)(3)Middletown, CT$304,957,000
Howard University501(c)(3)Washington, DC$976,883,000
Ithaca College (IC)501(c)(3)Ithaca, NY$370,878,479
Liberty University501(c)(3)Lynchburg, VA$1,159,314,971
Samford University501(c)(3)Birmingham, AL$238,137,206
New York Institute of Technology (NYIT)501(c)(3)Old Westbury, NY$327,180,390
Fairfield University501(c)(3)Fairfield, CT$378,413,525
Rensselaer Polytechnic Institute (RPI)501(c)(3)Troy, NY$591,700,082
Johnson & Wales University501(c)(3)Providence, RI$437,890,524
University of Hartford (UHart)501(c)(3)West Hartford, CT$275,809,987
Bryant University501(c)(3)Smithfield, RI$235,666,911
Northeastern University (NU)501(c)(3)Boston, MA$1,691,438,907
Lehigh University501(c)(3)Bethlehem, PA$550,336,671
Marist College501(c)(3)Poughkeepsie, NY$304,626,300
Midwestern University501(c)(3)Downers Grove, IL$481,652,089
University of Notre Dame501(c)(3)Notre Dame, IN$2,147,367,576
Wake Forest University (WFU)501(c)(3)Winstonsalem, NC$583,361,532
Texas Christian University (TCU)501(c)(3)Fort Worth, TX$904,161,249
University of Rochester501(c)(3)Rochester, NY$4,161,715,577
Illinois Institute of Technology (IIT)501(c)(3)Chicago, IL$380,049,108
University of Tulsa501(c)(3)Tulsa, OK$295,190,113
Nonprofit Types
Issues
Characteristics
Key performance indicators
Total revenues
$846,261,436
2019
Yearly growth
0%
% of revenues
n/a
Total expenses
$797,214,115
2019
Yearly growth
17.2%
% of expenses
n/a
Total assets
$2,018,540,095
2019
Yearly growth
3.1%
% of assets
n/a
Num. employees
12,512
2019
Yearly growth
-0.9%
% of total
n/a
General information
Address
46 Lomb Memorial Drive
Rochester, NY14623
Metro area
Rochester, NY
Website URL
rit.edu/ 
Phone
(585) 475-2411
IRS details
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1830
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B43: University or Technological Institute
NAICS code, primary
611310: Colleges, Universities, and Professional Schools
Parent/child status
Central organization
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