Finlandia University
- Assets
- $36.2m
- Revenue
- $18.1m
- Investments
- $4.5m
- Employees
- 254
- Location
- Hancock, MI
- Founding
- 06/1953
- Data as of
- 06/2021
- EIN
- 38-1359570
Organization Overview
Finlandia University is located in Hancock, MI. The organization was established in 1953. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Finlandia University employed 254 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finlandia University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Finlandia University generated $18.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $17.6m during the year ending 06/2021. While expenses have increased by 2.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A LEARNING COMMUNITY DEDICATED TO ACADEMIC EXCELLENCE AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DELIVERED COURSES OF STUDY IN BUSINESS, ARTS, AND SCIENCES, HEALTH SCIENCES, AND ART AND DESIGN TO APPROXIMATELY 400 STUDENTS DURING THE ACADEMIC YEAR OF 2020/21. IT ALSO CONDUCTED CO-CURRICULAR, COMMUNITY, AND OTHER AUXILIARY SERVICES THAT SUPPORT ITS MISSION TO ACCOMANY THE WHOLE STUDENT TOWARD A WHOLE LIFE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Philip Johnson President | $105,128 | ||
Jeanne Kemppainen Secretary | Officer | $0 | |
Ms Julie Badel Chair | Officer | $0 | |
Mr Daniel Niemi Trustee | Trustee | $0 | |
Dr John Niska Trustee | Trustee | $0 | |
Tiger Marcotte Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,662,531 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,662,531 |
| Total Program Service Revenue | $14,525,189 |
| Investment income | $4,213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,081,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,495,073 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,002,036 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $803,546 |
| Advertising and promotion | $49,126 |
| Office expenses | $97,302 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $461,407 |
| Travel | $165,822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,675 |
| Interest | $758,308 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $785,043 |
| Insurance | $142,917 |
| All other expenses | $757,899 |
| Total functional expenses | $17,581,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $925,184 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,305,495 |
| Accounts receivable, net | $1,283,712 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $202,967 |
| Prepaid expenses and deferred charges | $253,196 |
| Net Land, buildings, and equipment | $22,911,571 |
| Investments—publicly traded securities | $407,059 |
| Investments—other securities | $4,546,412 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $349,155 |
| Total assets | $36,184,751 |
| Accounts payable and accrued expenses | $432,531 |
| Grants payable | $204,802 |
| Deferred revenue | $26,721 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,290,024 |
| Total liabilities | $16,954,078 |
| Net assets without donor restrictions | $5,177,089 |
| Net assets with donor restrictions | $14,053,584 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $36,184,751 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Finlandia University has recieved totaling $535,435.
| Awarding Organization | Amount |
|---|---|
Community Foundation For The Fox Valley Region Inc Appleton, WI PURPOSE: B42: UNDERGRADUATE COLLEGES | $200,000 |
Portage Health Foundation Hancock, MI PURPOSE: FOOD AND SCHOLARSHIP | $148,190 |
Paloheimo Foundation South Pasadena, CA PURPOSE: FELLOWS PROGRAM | $100,000 |
Harry A & Margaret D Towsley Foundation Ann Arbor, MI PURPOSE: PROGRAM SUPPORT | $44,000 |
Boldt Family Fund Inc Appleton, WI PURPOSE: SCHOLARSHIPS & STUDENT FINANCIAL AID | $10,000 |
Ray & Peg Hirvonen Charitable Foundation Marquette, MI PURPOSE: ONGOING SUPPORT FOR SCHOLARSHIPS | $10,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baker College Flint, MI | $33,049,782 | $27,043,165 |
Baker College Flint, MI | $48,464,572 | $25,592,429 |
Baker College Flint, MI | $39,254,865 | $22,321,880 |
Holy Cross College Inc Notre Dame, IN | $53,093,799 | $27,179,393 |
Finlandia University Hancock, MI | $36,184,751 | $18,081,025 |
Christ College Of Nursing Andhealth Sciences Cincinnati, OH | $10,994,626 | $16,669,063 |
Ancilla Domini College Plymouth, IN | $0 | $14,414,276 |
Baker College Flint, MI | $17,958,758 | $9,486,714 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
The Chatfield Edge St Martin, OH | $13,777,194 | $3,802,569 |
Delta College Foundation University Center, MI | $1,992,755 | $2,619,212 |