Mount Mercy University
- Assets
- $103.9m
- Revenue
- $59.4m
- Investments
- $10.8m
- Employees
- 774
- Location
- Cedar Rapids, IA
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 42-0681046
Organization Overview
Mount Mercy University is located in Cedar Rapids, IA. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Mount Mercy University employed 774 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mount Mercy 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, Mount Mercy University generated $59.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $57.5m during the year ending 06/2022. While expenses have increased by 3.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE UNDERGRADUATE AND GRADUATE HIGHER EDUCATION FOR APPROXIMATELY 1,600 STUDENTS
Describe the Organization's Program Activity:
INSTRUCTION: PROVIDE GRADUATE AND UNDERGRADUATE HIGHER EDUCATION IN PROGRAMS INCLUDING TRADITIONAL DAYTIME FORMAT, NON TRADITIONAL EVENING FORMAT, ONLINE, AND ACCELERATED EVENING AND WEEKEND FORMAT. DEGREES GRANTED INCLUDE MFT, MSN, MBA, MSL, MA IN EDUCATION, MM, DMFT, AND DNP (GRADUATE PROGRAMS) AND BA, BS, BAS, BSN AND BBA (UNDERGRADUATE PROGRAMS). FOR FALL OF 2021, THERE WERE 1,071 TRADITIONAL, 77 ACCELERATED AND 206 GRADUATE, 142 ONLINE, AND 84 ONLINE GRADUATE STUDENTS. TOTAL UNDERGRADUATE FTE WAS 1,181; GRADUATE FTE WAS 255.
AUXILIARY SERVICES: PROVIDE RESIDENCE HALLS WITH CAPACITY OF 450 STUDENTS, MEALS (BOARD PLANS) FOR RESIDENTIAL AND NON-RESIDENTIAL STUDENTS AND BOOKSTORE FOR TEXTBOOK PURCHASES.
ACADEMIC SUPPORT: PROVIDE ACADEMIC RESOURCES TO ALL STUDENTS INCLUDING LIBRARY SERVICES, COMPUTER CENTER AND LABS, ACADEMIC ASSISTANCE AND CAMPUS MINISTRIES.
STUDENT SERVICES: ATHLETICS, HEALTH SERVICES, ADMISSIONS AND FINANCIAL AID.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Laurent Provost & VP For Academic Affairs | Officer | 40 | $211,774 |
Anne Gillespie VP For Business & Finance | Officer | 40 | $175,118 |
Brenda Haefner VP For Devel & Alumni Relations | 40 | $159,249 | |
Laurie Hamen Past President | 40 | $143,778 | |
Todd Olson President | Officer | 40 | $138,590 |
Tom Castle Assistant Vice President | 40 | $136,126 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ruffalo Noel Levitz Student Recruitment Services & Donor Eng | 6/29/22 | $1,313,491 |
Eab Global Inc Student Recruitment & Marketing Services | 6/29/22 | $682,884 |
Cedar Service Company Construction Services-roofing | 6/29/22 | $728,321 |
Rinderknecht Associates Inc Construction Services | 6/29/22 | $1,171,110 |
Aramark Corporation-campus Services Food Service | 6/29/22 | $1,645,835 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $65,750 |
| Related organizations | $0 |
| Government grants | $6,402,906 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,506,647 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,975,303 |
| Total Program Service Revenue | $48,390,916 |
| Investment income | $764,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,235,560 |
| Net Income from Fundraising Events | -$251 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $48,335 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,414,847 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,648,831 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $811,546 |
| Compensation of current officers, directors, key employees. | $730,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,028,490 |
| Pension plan accruals and contributions | $659,206 |
| Other employee benefits | $1,432,924 |
| Payroll taxes | $1,151,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,955 |
| Fees for services: Accounting | $150,303 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $111,069 |
| Fees for services: Investment Management | $105,555 |
| Fees for services: Other | $4,419,396 |
| Advertising and promotion | $909,109 |
| Office expenses | $857,414 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,039,746 |
| Travel | $752,607 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $148,331 |
| Interest | $460,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,730,141 |
| Insurance | $439,220 |
| All other expenses | $3,160,760 |
| Total functional expenses | $57,525,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,500 |
| Savings and temporary cash investments | $9,500,253 |
| Pledges and grants receivable | $897,237 |
| Accounts receivable, net | $1,223,443 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,720,805 |
| Net Land, buildings, and equipment | $49,040,134 |
| Investments—publicly traded securities | $27,629,823 |
| Investments—other securities | $10,823,523 |
| Investments—program-related | $319,693 |
| Intangible assets | $0 |
| Other assets | $2,768,887 |
| Total assets | $103,926,298 |
| Accounts payable and accrued expenses | $3,116,008 |
| Grants payable | $0 |
| Deferred revenue | $399,824 |
| Tax-exempt bond liabilities | $13,473,394 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $148,571 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $373,445 |
| Total liabilities | $17,511,242 |
| Net assets without donor restrictions | $52,565,699 |
| Net assets with donor restrictions | $33,849,357 |
| 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 | $103,926,298 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mount Mercy University has recieved totaling $10,700.
| Awarding Organization | Amount |
|---|---|
Robert L & Mary Frances Cattoi Family Foundation Rockville, MD PURPOSE: EDUCATION | $8,000 |
Mount Saint Clare Education Charitable Trust Clinton, IA PURPOSE: SCHOLARSHIPS | $2,700 |
Endowment Analysis
| Beg. Balance | $36,315,412 |
| Earnings | -$1,852,807 |
| Net Contributions | $1,029,403 |
| Other Expense | $103,014 |
| Grants | $1,030,000 |
| Ending Balance | $34,358,994 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concordia College Corporation Moorhead, MN | $403,850,675 | $127,833,637 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
College Of St Scholastica Inc Duluth, MN | $228,173,776 | $117,585,202 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
College Of St Benedict Business Off Saint Joseph, MN | $251,991,111 | $110,041,062 |
St Norbert College Inc De Pere, WI | $336,117,917 | $103,405,590 |
University Of Northwestern-St Paul St Paul, MN | $144,732,947 | $110,000,439 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |