Iona University
Iona University shows consistent asset growth and balanced finances over the last decade.
EIN: 133508093 · New Rochelle, NY · NTEE: B43 · Updated: 2026-03-28
Is Iona University Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iona University directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iona University
Iona University (EIN: 133508093) is a nonprofit organization based in New Rochelle, NY, classified under NTEE code B43. The organization reported total revenue of $279.5M and total assets of $479.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iona University's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iona University is a major nonprofit that has been operating for 12 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $183.3M |
| Total Expenses | $184.9M |
| Surplus / Deficit | $-1,630,249 |
| Total Assets | $450.9M |
| Total Liabilities | $131.5M |
| Net Assets | $319.4M |
| Operating Margin | -0.9% |
| Debt-to-Asset Ratio | 29.2% |
| Months of Reserves | 29.3 months |
Financial Health Grade: B
In 2023, Iona University reported a deficit of $1.6M with expenses exceeding revenue, holds 29.3 months of operating reserves (strong position), has a debt-to-asset ratio of 29.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Iona University's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.0% | +5.0% | +1.7% |
| 2022 | +8.0% | +8.0% | +4.1% |
| 2021 | +3.7% | +1.0% | +9.7% |
| 2020 | -5.9% | -1.5% | +2.4% |
| 2019 | +1.8% | +1.3% | +3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Iona University with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Iona University allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 29.2%.
Executive Compensation Analysis
The provided data consistently reports 0% for Officer Compensation across all listed periods. This indicates that either the university's officers receive no compensation, or their compensation is reported under different expense categories, which limits direct transparency on executive pay relative to the organization's substantial size and revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Iona University's IRS 990 filings:
- Lack of transparent executive compensation reporting in the provided data.
Strengths
The following positive indicators were identified for Iona University:
- Consistent growth in assets, from $233M in 2014 to $450M in 2023.
- Stable financial operations with revenues generally matching expenses.
- Healthy balance sheet with assets significantly exceeding liabilities ($450M assets vs. $131M liabilities in 2023).
- Demonstrated ability to manage expenses effectively over a decade of growth.
Frequently Asked Questions about Iona University
Is Iona University a legitimate charity?
Based on AI analysis of IRS 990 filings, Iona University (EIN: 133508093) some concerns. Mission Score: 75/100. 1 red flag identified, 4 strengths noted.
How does Iona University spend its money?
Iona University directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Iona University tax-deductible?
Iona University is registered as a tax-exempt nonprofit (EIN: 133508093). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Iona University manage to report 0% officer compensation across all filings?
The consistent reporting of 0% for officer compensation suggests that executive salaries might be categorized differently within the IRS 990 filing, or that the specific field 'Officer Comp' does not capture the full scope of executive remuneration for this organization. Further investigation into the detailed expense schedules would be needed to understand this.
What is the primary driver of Iona University's significant asset growth?
Iona University's assets have grown from $233,169,950 in 2014 to $450,915,510 in 2023. This growth is likely driven by a combination of consistent operational surpluses (even if small), investment returns on endowments, and potentially capital campaigns or donations for facility improvements and expansion.
Is Iona University financially sustainable given its near break-even operations?
While Iona University often operates near break-even, as seen in 2023 with revenues of $183,290,865 and expenses of $184,921,114, its substantial and growing asset base ($450,915,510 in 2023) and manageable liabilities ($131,549,034 in 2023) indicate strong financial sustainability and a healthy balance sheet.
Filing History
IRS 990 filing history for Iona University showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Iona University's revenue has grown by 37.8%, moving from $133.0M to $183.3M. Total assets increased by 144.9% over the same period, from $184.1M to $450.9M. Total functional expenses rose by 49%, from $124.1M to $184.9M. In its most recent filing year (2023), Iona University reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $131.5M in liabilities against $450.9M in assets (debt-to-asset ratio: 29.2%), resulting in net assets of $319.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $183.3M | $184.9M | $450.9M | $131.5M | — | — |
| 2022 | $177.9M | $176.0M | $443.2M | $136.7M | — | View 990 |
| 2021 | $164.7M | $163.0M | $425.6M | $108.9M | — | View 990 |
| 2020 | $158.8M | $161.3M | $388.0M | $117.0M | — | View 990 |
| 2019 | $168.8M | $163.8M | $378.8M | $109.3M | — | View 990 |
| 2018 | $165.8M | $161.7M | $365.4M | $110.2M | — | View 990 |
| 2017 | $185.9M | $159.6M | $353.6M | $112.1M | — | View 990 |
| 2016 | $173.1M | $147.5M | $320.9M | $118.4M | — | View 990 |
| 2015 | $151.5M | $141.0M | $291.9M | $113.7M | — | View 990 |
| 2014 | $151.4M | $138.7M | $233.2M | $64.3M | — | View 990 |
| 2013 | $138.0M | $133.2M | $201.8M | $56.6M | — | View 990 |
| 2012 | $135.4M | $131.4M | $187.7M | $51.8M | — | View 990 |
| 2011 | $133.0M | $124.1M | $184.1M | $50.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $183.3M, expenses of $184.9M, and assets of $450.9M (revenue +3.0% year-over-year).
- 2022: Revenue of $177.9M, expenses of $176.0M, and assets of $443.2M (revenue +8.0% year-over-year).
- 2021: Revenue of $164.7M, expenses of $163.0M, and assets of $425.6M (revenue +3.7% year-over-year).
- 2020: Revenue of $158.8M, expenses of $161.3M, and assets of $388.0M (revenue -5.9% year-over-year).
- 2019: Revenue of $168.8M, expenses of $163.8M, and assets of $378.8M (revenue +1.8% year-over-year).
- 2018: Revenue of $165.8M, expenses of $161.7M, and assets of $365.4M (revenue -10.8% year-over-year).
- 2017: Revenue of $185.9M, expenses of $159.6M, and assets of $353.6M (revenue +7.4% year-over-year).
- 2016: Revenue of $173.1M, expenses of $147.5M, and assets of $320.9M (revenue +14.3% year-over-year).
- 2015: Revenue of $151.5M, expenses of $141.0M, and assets of $291.9M (revenue +0.0% year-over-year).
- 2014: Revenue of $151.4M, expenses of $138.7M, and assets of $233.2M (revenue +9.7% year-over-year).
- 2013: Revenue of $138.0M, expenses of $133.2M, and assets of $201.8M (revenue +1.9% year-over-year).
- 2012: Revenue of $135.4M, expenses of $131.4M, and assets of $187.7M (revenue +1.8% year-over-year).
- 2011: Revenue of $133.0M, expenses of $124.1M, and assets of $184.1M.
Data Sources and Methodology
This transparency report for Iona University is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.