Northwood University
- Assets
- $206.6m
- Revenue
- $67.7m
- Investments
- $0.0
- Employees
- 890
- Location
- Midland, MI
- Founding
- 12/1961
- Data as of
- 06/2020
- 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 06/2021, 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 06/2020, Northwood University generated $67.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $77.5m during the year ending 06/2020. 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
2020
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:
Part 3 - Line 4a
INSTRUCTIONAL- PROVIDED EDUCATION TO MORE THAN 2,541 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 | $773,141 |
Timothy G Nash Di., Mcnair Ctr, Strategic Alliance | 30 | $380,100 | |
Keith A Pretty Administration | 60 | $313,844 | |
William Karl Stephan Vice President | Officer | 60 | $312,267 |
Kristin Stehouwer PHD Vice President | Officer | 60 | $296,210 |
Rhonda Anderson Officer | 60 | $191,542 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
John E Green Company Contractor Services | 6/29/21 | $522,124 |
Creative Dining Services Food Service | 6/29/21 | $2,736,582 |
Servpro Saginaw Damage Restoration | 6/29/21 | $3,690,000 |
Stt Inc Security | 6/29/21 | $1,064,675 |
Csrs Inc Disaster Recovery | 6/29/21 | $618,944 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,841,043 |
| Investment income | $1,369,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,993,960 |
| Net Income from Fundraising Events | $26,428 |
| Net Income from Gaming Activities | $6,863 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,719,695 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $16,443,289 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,446,478 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,343,863 |
| Pension plan accruals and contributions | $928,389 |
| Other employee benefits | $4,551,193 |
| Payroll taxes | $1,674,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,065 |
| Fees for services: Accounting | $101,849 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $873,153 |
| Office expenses | $465,228 |
| Information technology | $1,916,843 |
| Royalties | $0 |
| Occupancy | $729,053 |
| Travel | $1,383,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,919,121 |
| Insurance | $566,407 |
| All other expenses | $0 |
| Total functional expenses | $77,545,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,396,570 |
| Pledges and grants receivable | $8,861,883 |
| Accounts receivable, net | $1,528,565 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $111,914 |
| Prepaid expenses and deferred charges | $460,990 |
| Investments—publicly traded securities | $50,297,028 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,920,036 |
| Total assets | $206,640,197 |
| Accounts payable and accrued expenses | $7,929,475 |
| Grants payable | $0 |
| Deferred revenue | $3,518,000 |
| 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 | $3,010,732 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,156,428 |
| Total liabilities | $21,614,635 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $185,025,562 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northwood University has recieved totaling $38,100.
| Awarding Organization | Amount |
|---|---|
Automotive Warehouse Distributors Association Inc Bethesda, MD PURPOSE: AWDA provided grants for Leadership 2.0 and Heavy Duty Leadership courses | $38,100 |
Endowment Analysis
| Beg. Balance | $89,966,416 |
| Earnings | $28,383,919 |
| Admin Expense | $339,830 |
| Net Contributions | $751,828 |
| Other Expense | $4,420,104 |
| Ending Balance | $114,342,229 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Dayton Dayton, OH | $1,782,604,426 | $747,930,230 |
Marquette University Milwaukee, WI | $1,675,810,000 | $679,500,550 |
Butler University Indianapolis, IN | $771,199,903 | $355,703,084 |
Xavier University Cincinnati, OH | $682,170,280 | $308,233,290 |
The Lutheran University Association Inc Valparaiso, IN | $578,078,702 | $192,641,554 |
University Of Indianapolis Indianapolis, IN | $306,225,107 | $207,052,087 |
Calvin University Grand Rapids, MI | $488,669,511 | $185,893,983 |
John Carroll University University Heights, OH | $596,841,319 | $177,797,670 |
University Of Detroit Mercy Detroit, MI | $289,746,215 | $171,830,708 |
Baldwin Wallace University Berea, OH | $362,531,301 | $151,897,544 |
Ashland University Ashland, OH | $314,084,834 | $179,414,778 |
Capital University Columbus, OH | $268,714,019 | $130,364,593 |