Northwood University
- Assets
- $223.7m
- Revenue
- $83.7m
- Investments
- $0.0
- Employees
- 890
- Location
- Midland, MI
- Founding
- 12/1961
- Data as of
- 06/2022
- EIN
- 38-1624684
Organization Overview
Northwood University is located in Midland, MI. The organization was established in 1961. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Northwood University employed 890 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwood 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 06/2022, Northwood University generated $83.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $70.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION-WE DEVELOP FREE-ENTERPRISE LEADERS WHO DRIVE GLOBAL ECONOMIC AND SOCIAL PROGRESS
Describe the Organization's Program Activity:
INSTRUCTIONAL- PROVIDED EDUCATION TO MORE THAN 2,427 STUDENTS. ALSO PROVIDED EDUCATIONAL OPPORTUNITIES THROUGH CONTINUING EDUCATION.
STUDENT SERVICES - ATHLETICS, PLACEMENT, REGISTRAR, FINANCIAL AID, SECURITY, BUSINESS OFFICE, AND OTHER SUPPORT TO CURRENT AND FORMER STUDENTS.
AUXILIARY ENTERPRISES - PROVIDED HOUSING, MEALS TO STUDENTS AND BOOKSTORE SERVICES TO CURRENT AND FORMER STUDENTS. LIBRARY SERVICES TO STUDENTS AND THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Macdonald President & CEO | Officer | 60 | $651,385 |
Kristin Stehouwer PHD Vice President | Officer | 60 | $299,201 |
Bernard Reeves Vice President | Officer | 60 | $261,696 |
Keith A Pretty Administration | 60 | $248,829 | |
Justin Marshall Vice President | Officer | 60 | $193,121 |
Lisa Fairbairn Dean Of Rdgsm | 60 | $184,490 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Dining Services Food Service | 6/29/22 | $3,287,343 |
Ampm Marketing Services | 6/29/22 | $566,967 |
Ellucian Software Services | 6/29/22 | $443,560 |
Servpro Saginaw Damage Restoration | 6/29/22 | $244,788 |
Stt Inc Security | 6/29/22 | $712,553 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $270,389 |
| Related organizations | $0 |
| Government grants | $7,963,258 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,988,079 |
| Noncash contributions included in lines 1a–1f | $1,528,744 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,221,726 |
| Total Program Service Revenue | $58,631,575 |
| Investment income | $2,822,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,278,315 |
| Net Income from Fundraising Events | $5,421 |
| Net Income from Gaming Activities | $32,907 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,695,631 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,806,902 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,561,745 |
| Compensation of current officers, directors, key employees. | $1,561,745 |
| Compensation to disqualified persons | $18,326,352 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $946,855 |
| Other employee benefits | $3,445,228 |
| Payroll taxes | $1,405,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,124 |
| Fees for services: Accounting | $133,615 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $646,842 |
| Office expenses | $385,582 |
| Information technology | $2,026,108 |
| Royalties | $0 |
| Occupancy | $347,817 |
| Travel | $1,489,851 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,670,344 |
| Insurance | $607,302 |
| All other expenses | $6,031,848 |
| Total functional expenses | $70,059,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,479,034 |
| Pledges and grants receivable | $7,833,683 |
| Accounts receivable, net | $1,656,244 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $116,341 |
| Prepaid expenses and deferred charges | $467,968 |
| Net Land, buildings, and equipment | $78,770,533 |
| Investments—publicly traded securities | $52,210,573 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,137,756 |
| Total assets | $223,672,132 |
| Accounts payable and accrued expenses | $3,526,838 |
| Grants payable | $0 |
| Deferred revenue | $2,498,347 |
| 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 | $3,775 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,037,616 |
| Total liabilities | $11,066,576 |
| Net assets without donor restrictions | $132,879,745 |
| Net assets with donor restrictions | $79,725,811 |
| 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 | $223,672,132 |