North Central University
- Assets
- $48.0m
- Revenue
- $37.8m
- Investments
- $1.4m
- Employees
- 715
- Location
- Minneapolis, MN
- Founding
- 08/1964
- Data as of
- 05/2022
- EIN
- 41-0706151
Organization Overview
North Central University is located in Minneapolis, MN. The organization was established in 1964. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 05/2022, North Central University employed 715 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. North Central 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 05/2022, North Central University generated $37.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $37.6m during the year ending 05/2022. While expenses have increased by 1.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO TRAIN AND PREPARE LEADERS TO SERVE THEIR COMMUNITY, CHURCH AND WORLD ACCORDING TO THEIR VOCATION AND GIFTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTH CENTRAL UNIVERSITY (THE UNIVERSITY) IS A CHRISTIAN UNIVERSITY, WITH AN URBAN AND INTERNATIONAL FOCUS, WHOSE PURPOSE IS TO PREPARE PENTECOSTAL LEADERS TO SERVE GOD IN THE CHURCH, THEIR COMMUNITY, AND THE WORLD. THE UNIVERSITY OFFERS ABOUT SIXTY AREAS OF STUDY THROUGH ITS COLLEGE OF ARTS AND SCIENCES, COLLEGE OF FINE ARTS, AND COLLEGE OF CHURCH LEADERSHIP. THE CURRICULUM IS SUPPORTED WITH A CHRISTIAN WORLD VIEW DEVELOPED THROUGH A MEANINGFUL, INTEGRATED GENERAL EDUCATION CORE PROGRAM. THE UNIVERSITY TRAINS STUDENTS TO SERVE GOD IN A VARIETY OF WAYS ACCORDING TO THEIR VOCATION AND GIFTS. PROGRAM FOCUS AT NORTH CENTRAL IS PARTICULARLY UPON URBAN AND INTERNATIONAL SETTINGS, UTILIZING THE METROPOLITAN CONTEXT OF THE MINNEAPOLIS-ST. PAUL AREA AS A LABORATORY FOR EFFECTIVE MINISTRY AND WORK IN THE MARKETPLACE, IN ADDITION TO PROVIDING A FULL ARRAY OF CREATIVE INTERNATIONAL LEARNING OPPORTUNITIES. NORTH CENTRAL IS A COEDUCATIONAL, PRIMARILY UNDERGRADUATE RESIDENTIAL UNIVERSITY, OPERATED BY 11 ASSEMBLIES OF GOD DISTRICTS OF THE UPPER MIDWEST. FOUNDED IN 1930, THE UNIVERSITY CURRENTLY SERVES A POPULATION OF ABOUT 1,100 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Bach Dean College Of Fine Arts | 40 | $226,996 | |
Gregory Leeper VP Academic Affairs | Officer | 40 | $126,964 |
Dour Graham VP Spiritual Life | Officer | 40 | $106,308 |
Andrew Denton Executive VP (left July 2021) | Officer | 40 | $98,069 |
Scott Hagan President | Officer | 40 | $78,189 |
Peggy Dunston Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dlr Group Architectural And Design Services | 5/30/22 | $426,923 |
Sodexo Affiliates Food Services | 5/30/22 | $1,985,647 |
Synergi Partners Inc Consulting Services | 5/30/22 | $428,199 |
Wexford Commercial Construction Llc Construction Services | 5/30/22 | $128,523 |
Presidio Networked Solutions Group Llc It Services | 5/30/22 | $184,142 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $156,010 |
| Related organizations | $0 |
| Government grants | $6,753,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,568,268 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,477,538 |
| Total Program Service Revenue | $28,319,581 |
| Investment income | $367,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,973 |
| Net Income from Fundraising Events | -$87,234 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$11,261 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,778,406 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,753,832 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $607,411 |
| Compensation of current officers, directors, key employees. | $85,037 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,058,497 |
| Pension plan accruals and contributions | $244,204 |
| Other employee benefits | $1,332,621 |
| Payroll taxes | $674,924 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,397 |
| Fees for services: Accounting | $70,433 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,728 |
| Fees for services: Other | $761,539 |
| Advertising and promotion | $356,525 |
| Office expenses | $806,182 |
| Information technology | $537,047 |
| Royalties | $0 |
| Occupancy | $1,129,245 |
| Travel | $417,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $218,789 |
| Interest | $84,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,264,673 |
| Insurance | $812 |
| All other expenses | $161,807 |
| Total functional expenses | $37,591,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,716 |
| Savings and temporary cash investments | $2,980,277 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,422,221 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,787 |
| Prepaid expenses and deferred charges | $824,431 |
| Net Land, buildings, and equipment | $34,863,795 |
| Investments—publicly traded securities | $5,494,691 |
| Investments—other securities | $1,419,640 |
| Investments—program-related | $518,881 |
| Intangible assets | $0 |
| Other assets | $198,830 |
| Total assets | $48,028,269 |
| Accounts payable and accrued expenses | $944,024 |
| Grants payable | $0 |
| Deferred revenue | $2,893,463 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $29,906 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | -$24,062 |
| Unsecured mortgages and notes payable | $3,378,679 |
| Other liabilities | $1,029,399 |
| Total liabilities | $8,251,409 |
| Net assets without donor restrictions | $32,614,939 |
| Net assets with donor restrictions | $7,161,921 |
| 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 | $48,028,269 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that North Central University has recieved totaling $51,040.
| Awarding Organization | Amount |
|---|---|
Crf Affordable Housing Inc Plainfield, IN PURPOSE: GENERAL SUPPORT | $10,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $10,000 |
Marvin Buzz Oates Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Eagle Foundation Chaska, MN PURPOSE: TUITION REDUCTION | $7,500 |
Chorzempa Family Foundation Minneapolis, MN PURPOSE: SCHOLARSHIPS | $6,000 |
Culvers Vip Foundation Inc Prairie Du Sac, WI PURPOSE: SCHOLARSHIP(S) FOR RECIPIENT(S) PAID DIRECTLY TO SCHOOL | $4,500 |
Endowment Analysis
| Beg. Balance | $4,432,773 |
| Earnings | -$268,180 |
| Net Contributions | $25,240 |
| Other Expense | $40,384 |
| Ending Balance | $4,149,449 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Des Moines University Osteopathic Medical Center Des Moines, IA | $450,267,375 | $87,558,866 |
Palmer College Foundation Davenport, IA | $257,383,249 | $91,492,236 |
Mitchell Hamline School Of Law St Paul, MN | $82,186,251 | $56,266,158 |
Independent School District No 535 Health & Dental Care Rochester, MN | $8,853,710 | $33,608,097 |
North Central University Minneapolis, MN | $48,028,269 | $37,778,406 |
Northwestern Health Sciences University Bloomington, MN | $39,341,448 | $34,284,875 |
Krell Institute Inc Ames, IA | $2,185,280 | $14,305,955 |
Duluth Graduate Medical Education Council Inc Duluth, MN | $4,803,601 | $7,733,024 |
High School For Recording Arts St Paul, MN | $4,751,970 | $7,549,848 |
Iowa Medical Education Collaborative Des Moines, IA | $0 | $4,983,705 |
United Theological Seminary Of The Twin Cities St Paul, MN | $12,813,883 | $6,235,932 |
Oak Hills Fellowship Inc Bemidji, MN | $7,589,446 | $4,230,819 |