The Medical College Of Wisconsin Inc
- Assets
- $3.1b
- Revenue
- $1.4b
- Investments
- $1.7b
- Employees
- 7,385
- Location
- Milwaukee, WI
- Founding
- 11/1968
- Data as of
- 06/2021
- EIN
- 39-0806261
Organization Overview
The Medical College Of Wisconsin Inc is located in Milwaukee, WI. The organization was established in 1968. 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, Medical College Of Wisconsin Inc employed 7,385 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical College Of Wisconsin Inc 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, Medical College Of Wisconsin Inc generated $1.4b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.3b during the year ending 06/2021. While expenses have increased by 3.8% per year over the past 7 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.
Since 2015, Medical College Of Wisconsin Inc has awarded 1,189 individual grants totaling $255,111,153. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MEDICAL COLLEGE OF WISCONSIN (MCW) IS A DISTINGUISHED LEADER AND INNOVATOR IN THE EDUCATION AND DEVELOPMENT OF THE NEXT GENERATION OF PHYSICIANS, (CONTINUED IN SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - APPROXIMATELY 1,600 STUDENTS ARE ENROLLED IN DEGREE-GRANTING EDUCATIONAL PROGRAMS AT MCW. THIS INCLUDES 1,023 MEDICAL STUDENTS, 409 GRADUATE STUDENTS, 130 PHARMACY STUDENTS, AND 53 MASTER OF SCIENCE IN ANESTHESIA STUDENTS. MCW FACULTY SUPERVISE MORE THAN 700 PHYSICIANS IN RESIDENCY TRAINING AND 200 PHYSICIANS IN FELLOWSHIP TRAINING THROUGH THE MEDICAL COLLEGE OF WISCONSIN AFFILIATED HOSPITALS, INC. (CONTINUED IN SCHEDULE O)
RESEARCH - MCW IS A MAJOR NATIONAL RESEARCH CENTER AND THE SECOND LARGEST RESEARCH INSTITUTION IN WISCONSIN. IN FISCAL YEAR 2022, MCW INVESTED $348.0 MILLION IN RESEARCH, TEACHING, TRAINING AND RELATED PURPOSES WHICH WILL LEAD TO IMPROVED PATIENT CARE AND HEALTH OUTCOMES. THIS TOTAL INCLUDES $132.3 MILLION FROM THE NATIONAL INSTITUTES OF HEALTH (NIH). MCW RANKS IN THE TOP THIRD OF U.S. MEDICAL SCHOOLS IN NIH RESEARCH SUPPORT. (CONTINUED IN SCHEDULE O)
PATIENT CARE - APPROXIMATELY 1,780 MCW PHYSICIANS AND 905 NURSE PRACTITIONERS, PHYSICIAN ASSISTANTS, AND OTHER HEALTH CARE PRACTITIONERS PROVIDE ADULT PATIENT CARE AS THE MEDICAL COLLEGE PHYSICIANS AND PEDIATRIC PATIENT CARE THROUGH CHILDREN'S SPECIALTY GROUP, A JOINT VENTURE WITH CHILDREN'S HOSPITAL AND HEALTH SYSTEM. THE MCW PHYSICIAN PRACTICE INCLUDES DOCTORS IN EVERY SPECIALTY AND SUBSPECIALTY OF MEDICINE. (CONTINUED IN SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Max C Lee MD Asst Prof-Neurosurgery | 40 | $2,996,895 | |
Viktor Hraska MD Chief, Prof-Ped Cardiac Surg | 2 | $2,867,036 | |
John R Raymond Sr MD Trustee/president And CEO | OfficerTrustee | 40 | $2,066,220 |
Joseph E Kerschnermd Trustee/provost& Exec Vp, Dean | OfficerTrustee | 39 | $1,600,660 |
Shekar N Kurpad MD Chair, Prof-Neurosurgery | 40 | $1,518,050 | |
Douglas B Evans MD Chair, Prof-Surgery | 40 | $1,514,811 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Natl Marrow Donor Program Research Subcontract | 6/29/22 | $14,507,012 |
Medical College Of Wi Affil Hosp Resident Services | 6/29/22 | $9,981,116 |
Froedtert Health Medical Group Physician/shared Svc | 6/29/22 | $15,012,525 |
Froedtert Health Inc Contractual Services | 6/29/22 | $8,313,456 |
Miron Construction Co Inc Construction Service | 6/29/22 | $6,296,942 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $240,236,197 |
| Investment income | $25,947,326 |
| Tax Exempt Bond Proceeds | $367 |
| Royalties | $1,497,162 |
| Net Rental Income | $204,533 |
| Net Gain/Loss on Asset Sales | $36,362,094 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $84,639 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,363,134,190 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $13,020,816 |
| Grants and other assistance to Foreign Orgs/Individuals | $476,806 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $13,343,108 |
| Compensation to disqualified persons | $1,865,402 |
| Other salaries and wages | $826,657,869 |
| Pension plan accruals and contributions | $45,070,934 |
| Other employee benefits | $68,815,779 |
| Payroll taxes | $43,457,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $890,205 |
| Fees for services: Accounting | $679,392 |
| Fees for services: Lobbying | $202,486 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,181,411 |
| Fees for services: Other | $51,130,171 |
| Advertising and promotion | $2,483,560 |
| Office expenses | $6,961,229 |
| Information technology | $17,704,629 |
| Royalties | $413,292 |
| Occupancy | $40,005,420 |
| Travel | $435,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,165,393 |
| Interest | $10,659,728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,350,607 |
| Insurance | $809,413 |
| All other expenses | $0 |
| Total functional expenses | $1,287,814,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,295 |
| Savings and temporary cash investments | $256,641,129 |
| Pledges and grants receivable | $86,462,668 |
| Accounts receivable, net | $106,785,439 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,267 |
| Prepaid expenses and deferred charges | $7,544,814 |
| Investments—publicly traded securities | $489,380,612 |
| Investments—other securities | $1,679,793,824 |
| Investments—program-related | $122,720,187 |
| Intangible assets | $6,692,245 |
| Other assets | $91,593,094 |
| Total assets | $3,131,610,164 |
| Accounts payable and accrued expenses | $333,764,083 |
| Grants payable | $0 |
| Deferred revenue | $30,461,388 |
| Tax-exempt bond liabilities | $305,160,888 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,522,455 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $111,898,279 |
| Total liabilities | $789,807,093 |
| 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 | $2,341,803,071 |
Grants Awarded
Over the last fiscal year, The Medical College Of Wisconsin Inc has awarded $40,530,214 in support to 155 organizations.
| Grant Recipient | Amount |
|---|---|
2 STORY CREATIVE LTD PURPOSE: ADVANCE HEALTH WI | $146,849 |
AIDS FOUNDATION OF CHICAGO PURPOSE: RESEARCH SUBAWARD | $71,733 |
AIDS RESOURCE CENTER OF WISCONSIN INC PURPOSE: RES SUB/HIV CARE | $164,780 |
16TH ST COMMUNITY HEALTH CENTER PURPOSE: RES SUB/AHW | $106,760 |
AIDS TASKFORCE OF GREATER CLEVELAND PURPOSE: RESEARCH SUBAWARD | $203,278 |
ALMA CENTER INC PURPOSE: ADVANCE HEALTH WI | $10,000 |