IRS form shows growth in Syracuse University’s endowment
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Syracuse University’s endowment increased more than $125 million from 2012 to 2013, according to the university’s IRS filings.
During the 2014 fiscal year, SU’s end of year endowment funds totaled $1,156,034,730 compared to the $1,028,501,282 figure filed for fiscal year 2013. This $127,533,448 increase is greater than the growth from 2011 to 2012, which totaled $111,979,618. The endowment has now more than doubled since the fund was $556,869,570 in the 2009 fiscal year.
On Tuesday, The Daily Orange obtained a copy of SU’s 2014 fiscal year Form 990, which is a document non-profit organizations file with the Internal Revenue Service each year. The financial information is based off of the 2013 fiscal year, which began on July 1, 2013 and ended on June 30, 2014. The salaries disclosed in the form are from 2012-2013.
Men’s basketball head coach Jim Boeheim was the university’s top earner, receiving $2,058,826 in reportable compensation and $85,558 more in other compensations, according to the form.
In addition to Boeheim, former chancellor Nancy Cantor saw an increase of about $24,677 in her total compensation. In 2012-2013, Cantor earned $681,768 in reportable compensation and $347,201 in other compensation, totaling $1,028,969 for the 2012-13 year.
Current Chancellor Kent Syverud was included in the list of employees on the Form 990, but no salary or compensation was reported. Kevin Quinn, the senior vice president for public affairs at SU, said in an email that because the form covers calendar year 2013 for compensation, rather than fiscal year, and Syverud officially took office in January 2014, there was nothing to report.
SU’s total legal expenses were $6,981,477 in 2013, a decrease of about 5 percent from $7,335,319 in 2012.
–News Editor Justin Mattingly, firstname.lastname@example.org, contributed reporting to this story.
Published on June 10, 2015 at 7:08 pm