Salve Regina University
89% goes to programs $43 to raise $100 Strong reserves
Salve Regina University is a 501(c)(3) organization based in Newport, Rhode Island, registered in 1946, with $136,806,510 in FY2023 revenue. CharityIndex grades it A, and it directs about 89% of spending to programs.
100 Ochre Point Ave, Newport, RI, 02840 EIN 05-0259080 Since 1946
Revenue (FY2023)
$136.8M
▲ 0.2% vs prior year
Education median: $200K
Expenses (FY2023)
$139.4M
Net assets
$179.0M
Employees
1,604
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating89% to programs · $43 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Salve Regina University: 89% to programs · $43 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating15 mo reserves · -2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Salve Regina University: 15 mo reserves · -2% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Salve Regina University: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Salve Regina University: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
As an academic community that welcomes people of all beliefs, (see schedule o for continuation) salve regina university, a catholic institution founded by the sisters of mercy, seeks wisdom and promotes universal justice. the university, through teaching and research, prepares students for responsible lives by imparting and expanding knowledge, developing skills and cultivating enduring values. through liberal arts and professional programs, students develop their abilities for thinking clearly and creatively, enhance their capacity for sound judgment, and prepare for the challenge of learning throughout their lives. in keeping with the traditions of the sisters of mercy, and recognizing that all people are stewards of god's creation, the university encourages students to work for a world that is harmonious, just and merciful.
Contact & location
- Address
- 100 Ochre Point Ave, Newport, RI, 02840
- City
- Newport
- State
- Rhode Island
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $89.3M (FY2013) to $136.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $44.8MNet assets $179.0M
Operating margin
-1.9%
Spent more than it raised in the latest fiscal year.
Total assets
$223.9M
Total liabilities
$44.8M
Net assets
$179.0M
Salaries & benefits
$49.8M
36% of expenses
Board members
30
29 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $136,806,510▲0.2% | $139,363,074▲3.0% | $179,040,169▲3.6% | $223,861,328▲0.9% | 990 |
| 2022 | $136,593,065▼4.1% | $135,367,026▲5.7% | $172,800,942▲3.7% | $221,864,570▲2.1% | 990 |
| 2021 | $142,488,013▲13.2% | $128,010,860▲7.0% | $166,698,501▲2.3% | $217,395,157▲0.6% | 990 |
| 2020 | $125,875,129▲6.0% | $119,623,702▲4.4% | $162,898,425▲18.5% | $216,016,613▲12.3% | 990 |
| 2019 | $118,742,613▲10.3% | $114,589,956▲5.9% | $137,520,842▲1.5% | $192,416,863▲1.6% | 990 |
| 2018 | $107,645,941▼4.9% | $108,248,213▼2.3% | $135,546,801▲1.5% | $189,378,218▼0.2% | 990 |
| 2017 | $113,144,336▲8.0% | $110,784,686▲7.9% | $133,491,429▲4.1% | $189,737,653▲0.4% | 990 |
| 2016 | $104,732,732▼9.9% | $102,626,717▲2.2% | $128,268,733▲5.6% | $188,954,243▲2.9% | 990 |
| 2015 | $116,192,896▲18.0% | $100,370,589▲6.1% | $121,476,201▲7.4% | $183,606,918▲2.0% | 990 |
| 2014 | $98,441,913▲10.3% | $94,635,458▲6.8% | $113,125,897 | $180,036,806▲11.5% | 990 |
| 2013 | $89,259,990 | $88,646,226▲2.0% | $113,124,852▲7.9% | $161,535,455▲5.0% | 990 |
| 2012 | — | $86,928,983▲4.5% | $104,882,599▲7.8% | $153,779,495▲4.1% | 990 |
| 2011 | — | $83,185,049▲5.3% | $97,326,610▼0.4% | $147,737,068▼3.5% | 990 |
| 2010 | — | $78,963,482▲3.7% | $97,726,934▲10.8% | $153,053,459▲4.5% | 990 |
| 2009 | — | $76,126,450 | $88,190,586 | $146,488,408 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Kelli J Armstrong — $387,113 (0.28% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kelli J Armstrong | President | 35 | $387,113 |
| Maelynn Patten | Vp For Advancement | 35 | $263,665 |
| Michael Grandchamp | Vp For Operations/cfo | 35 | $245,036 |
| William Hall | Former Vp Administration/cfo | 35 | $243,775 |
| Nancy Schreiber | Provost/vp For Academic Affairs | 35 | $242,031 |
| James Fowler | Vp For Enrollment Management | 35 | $176,705 |
| James Ludes | Vp For Strategic Initiatives | 35 | $176,469 |
| Irving Bruckstein | Chief Information Officer | 35 | $174,269 |
| Michele Wood | Avp Controller | 35 | $171,332 |
| Michael Pimental | Chief of Staff | 35 | $168,675 |
| Letizia Gambrelle Boone | Vp For Student Affairs | 35 | $165,017 |
| Sandra Anthoine | Avp of Development and Planned Giving | 35 | $162,789 |
| Steven Rodenborn | Vice Provost & Dean of Undergraduate Studies | 35 | $161,039 |
| David Altounian | Vice Provost Grad.prof Pgm | 35 | $160,442 |
| Theresa Ladrigan-whelpley | Vp For Mission, Planning and Innovation | 35 | $152,155 |
| Michael Semenza | Special Assistant To the President | 35 | $148,121 |
| Anne Wallace Juge | Trustee | 1 | — |
| Bernard Mckay | Trustee | 1 | — |
| Brian Pryor | Trustee | 1 | — |
| Cheryl Mrozowski | Trustee, Chair | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Sodexo | Food/custodial Service | $7,394,606 |
| Farrar and Associates | Construction | $1,596,578 |
| I Design | Online Program Management | $1,471,147 |
| Carousel Industries | Technology Equipment | $1,364,798 |
| Carnegie Dartlett | Marketing Services | $849,742 |
Grants received · $2.2M total
78 grants to Salve Regina University totaling $2.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| The Rhode Island Community Foundation | Civ - civic life (primary) | 2024 | $136,000 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $50,000 |
| Impactassets Inc | General support | 2024 | $25,000 |
| University Impact | To support organization | 2024 | $20,000 |
| Gofundme Org | Welcome | 2024 | $20,000 |
| Community Foundation of New Jersey | Universities, graduate schools or law schools | 2024 | $17,500 |
| American Online Giving Foundation Inc | General support | 2024 | $12,238 |
| The Rhode Island Community Foundation | Other | 2023 | $142,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $129,600 |
| The Chicago Community Trust | General support for programs, operations and other charitable purposes | 2023 | $50,000 |
| Hispanic Federation Inc | Donor-advised fund | 2023 | $25,000 |
| University Impact | Ochre scholarship fund | 2023 | $20,000 |
| Donor Advised Charitable Giving | Education | 2023 | $17,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2023 | $15,000 |
| World Learning Inc | Education | 2023 | $13,460 |
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Frequently asked questions
- Is Salve Regina University a legitimate nonprofit?
- Yes. Salve Regina University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 05-0259080, based in Newport, Rhode Island. Donations are tax-deductible.
- What is Salve Regina University's EIN?
- Salve Regina University's Employer Identification Number (EIN) is 05-0259080.
- How much revenue does Salve Regina University report?
- Salve Regina University reported $136,806,510 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Salve Regina University's spending goes to programs?
- Salve Regina University spends about 89% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Salve Regina University have?
- CharityIndex grades Salve Regina University A, based on program efficiency and fundraising cost.
- How much does Salve Regina University's highest-paid employee make?
- The highest reported compensation on Salve Regina University's latest Form 990 is $387,113, paid to Kelli J Armstrong (President).
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Data for Salve Regina University (EIN 05-0259080) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.