Davenport University
- Assets
- $160.1m
- Revenue
- $124.3m
- Investments
- $596.9k
- Employees
- 1,685
- Location
- Grand Rapids, MI
- Founding
- 11/1971
- Data as of
- 06/2020
- EIN
- 38-1945965
Organization Overview
Davenport University is located in Grand Rapids, MI. The organization was established in 1971. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2020, Davenport University employed 1,685 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Davenport University generated $124.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $126.0m during the year ending 06/2020. While expenses have increased by 0.2% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
POST-SECONDARY EDUCATIONAL INSTITUTION PREPARING STUDENTS FOR CAREERS IN BUSINESS, HEALTH, AND TECHNOLOGY. QUALITY, CAREER-ORIENTED ACADEMIC PROGRAMS ARE OFFERED THROUGHOUT THE MAIN CAMPUS IN GRAND RAPIDS AND OTHER CAMPUSES THROUGHOUT MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATION TO APPROXIMATELY 7,000 STUDENTS AT LOCATIONS THROUGHOUT MICHIGAN, INCLUDING OVER 3,000 COURSES AT THE UNDERGRADUATE AND GRADUATE LEVELS OF POST-SECONDARY EDUCATION IN BUSINESS, HEALTH, AND TECHNOLOGY.
EDUCATING BUSINESS PROFESSIONALS THROUGH NON-CREDIT COURSES IN VARIOUS AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Pappas President | OfficerTrustee | 40 | $630,876 |
Linda Rinker Evp For Academics And Provost | Officer | 40 | $578,225 |
Michael Volk Treasurer/secretary/evp For Finance And CFO | Officer | 40 | $370,006 |
David Veneklase Evp For Organizational Development | 40 | $309,338 | |
Debra Cooper Evp For Marketing And Communications | 40 | $283,553 | |
Scott Epstein Evp For Quality And Effectiveness | 40 | $279,427 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kraft 60th Llc Building Rent | 6/29/20 | $936,014 |
Ellucian Company Lp Information Technology | 6/29/20 | $463,517 |
Rdg Livonia Llc Building Rent | 6/29/20 | $347,540 |
45 Ottawa Associates Llc Building Rent | 6/29/20 | $305,096 |
Du Apartments Llc Building Rent | 6/29/20 | $725,972 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,385,124 |
| Government grants | $3,495,722 |
| All other contributions, gifts, grants, and similar amounts not included above | $329,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,210,729 |
| Total Program Service Revenue | $111,752,751 |
| Investment income | $515,372 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,827 |
| Net Gain/Loss on Asset Sales | $308,969 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,385,694 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,297,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,200 |
| Grants and other assistance to domestic individuals. | $33,440,790 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,317,632 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,486,628 |
| Compensation of current officers, directors, key employees. | $2,486,628 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,429,325 |
| Pension plan accruals and contributions | $3,027,015 |
| Other employee benefits | $4,810,197 |
| Payroll taxes | $2,751,424 |
| Fees for services: Management | $400,087 |
| Fees for services: Legal | $105,972 |
| Fees for services: Accounting | $150,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,887 |
| Fees for services: Other | $3,809,953 |
| Advertising and promotion | $4,097,533 |
| Office expenses | $1,155,369 |
| Information technology | $3,299,519 |
| Royalties | $0 |
| Occupancy | $5,781,770 |
| Travel | $1,406,618 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $346,116 |
| Interest | $2,208,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,824,950 |
| Insurance | $1,123,589 |
| All other expenses | $1,390,357 |
| Total functional expenses | $125,977,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,538,042 |
| Savings and temporary cash investments | $3,335,369 |
| Pledges and grants receivable | $2,560,792 |
| Accounts receivable, net | $5,152,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $291,812 |
| Prepaid expenses and deferred charges | $2,882,672 |
| Net Land, buildings, and equipment | $117,015,519 |
| Investments—publicly traded securities | $21,557,588 |
| Investments—other securities | $596,903 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,165,638 |
| Total assets | $160,096,833 |
| Accounts payable and accrued expenses | $7,538,984 |
| Grants payable | $0 |
| Deferred revenue | $6,543,016 |
| Tax-exempt bond liabilities | $42,088,523 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,200,000 |
| Unsecured mortgages and notes payable | $944,616 |
| Other liabilities | $7,581,453 |
| Total liabilities | $68,896,592 |
| Net assets without donor restrictions | $89,486,859 |
| Net assets with donor restrictions | $1,713,382 |
| 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 | $160,096,833 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Davenport University has recieved totaling $50,600.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: Unrestricted | $45,600 |
Morris Communications Foundation Trust Agreement Augusta, GA PURPOSE: FUND SCHOLARSHIP | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Indiana Wesleyan University Marion, IN | $509,326,465 | $208,118,995 |
Denison University Granville, OH | $1,411,393,687 | $248,509,652 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Hillsdale College Hillsdale, MI | $1,230,310,896 | $287,422,849 |
Concordia University Inc Mequon, WI | $169,064,782 | $159,253,851 |
College Of Wooster Wooster, OH | $592,071,433 | $158,568,608 |
Hope College Holland, MI | $493,947,019 | $161,551,169 |
Kenyon College Gambier, OH | $912,598,629 | $162,469,290 |
The Cedarville University Cedarville, OH | $224,265,347 | $159,289,322 |
Ohio Northern University Ada, OH | $362,776,162 | $143,966,849 |
University Of Findlay Findlay, OH | $214,426,229 | $134,687,937 |