SACRED HEART UNIVERSITY
Mission Statement
Sacred Heart University is a co-educational, independent, comprehensive institution of higher learning in the Catholic intellectual tradition whose primary objective is to prepare men and women to live in and make their contributions to the human community. The University aims to assist in the development of people who are knowledgeable of self, rooted in faith, educated in mind, compassionate in heart, responsive to social and civic obligations, and able to respond to an ever-changing world. It does this by calling forth the intellectual potential of its students, nurturing each one’s spiritual growth, and deepening in them a sense of social responsibility. The University is committed to combining education for life with preparation for professional excellence. Sacred Heart University is Catholic in tradition and spirit. As a Catholic university, it seeks to play its appropriate role in the modern world. It exemplifies in its life the Judeo-Christian values of the God-given freedom and dignity of every human person. Inspired by the ecumenical spirit of the Second Vatican Council, Sacred Heart University welcomes men and women of all religious traditions and beliefs who share its concerns for truth, scholarship, the dignity of the human person, freedom, and the betterment of human society. It values religious diversity as enhancing the University community and creating opportunities for dialogue in the common search for truth. Through its curricular and co-curricular activities and campus ministry programs, the University provides the context in which students have the opportunity to appropriate in a critical fashion their own religious traditions. Sacred Heart University challenges its students to think critically, analyze carefully, evaluate with a sense of justice and proportion, and convey conclusions in an intelligible and articulate fashion. The University provides the environment in which its students can develop the aesthetic dimension of life by nurturing their abilities to imagine, create, and appreciate. It assists students to acquire a rich understanding of their own cultural and family heritages so as to assume their responsibilities as conveyers and creators of culture and family. As a community of teachers and scholars, Sacred Heart University exists for the pursuit of truth. It joins with other colleges and universities in the task of expanding human knowledge and deepening human understanding. It encourages and supports the scholarly and artistic work of its faculty and students. Further, it has a responsibility to share its resources and special gifts and talents for the betterment of the human community. All members of the University community are strongly encouraged to participate in the wider community through service to others, especially the poor. From its founding, the University has been recognized for its caring approach to students. This approach expresses the University’s belief that each student is born with a unique set of qualities and skills. It respects the personal and academic freedom of each of its members while, at the same time, fostering a genuine experience of community. By doing so, it creates the environment in which each person in the University shares in common goals and a common commitment to truth, justice, and concern for others.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
89.5% | 87.4% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
9.4% | 10.5% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
1.1% | 1.3% |
P10P90
|
Above median |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
1606.9% | 4415.8% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
21.7 mo | 20.3 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
43.4% | 27.0% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
92.7% | 84.6% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
6.7% | -2.0% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
6.2% | 5.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
16.6% | 1.3% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $509.0M | $424.6M | $767.6M | 89.5% | 5403 |
| 2022 | $476.9M | $400.0M | $665.9M | 88.7% | 5072 |
| 2021 | $421.3M | $355.4M | N/A | — | 4710 |
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