Midland University
- Assets
- $73.6m
- Revenue
- $62.3m
- Investments
- $0.0
- Employees
- 825
- Location
- Fremont, NE
- Founding
- 08/1963
- Data as of
- 05/2024
- EIN
- 47-0376551
Organization Overview
Midland University is located in Fremont, NE. The organization was established in 1963. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2024, Midland University employed 825 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Midland 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 05/2024, Midland University generated $62.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $62.8m during the year ending 05/2024. While expenses have increased by 3.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MIDLAND UNIVERSITY INSPIRES PEOPLE TO LEARN AND LEAD IN THE WORLD WITH PURPOSE. WE ARE A LIBERAL ARTS COLLEGE AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. THE UNIVERSITY HOLDS THE FOLLOWING CORE VALUES TO BE THE FOUNDATION OF OUR IDENTITY AS A COMMUNITY: FAITH, LEARNING, QUALITY, RESPECT, AND STEWARDSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION:MIDLAND UNIVERSITY OFFERS MULTIPLE DEGREES INCLUDING BACHELORS DEGREES IN BUSINESS, EDUCATION AND NURSING, AS WELL AS A MASTERS IN BUSINESS ADMINISTRATION AND EDUCATION. THE 2023-204 ENROLLMENT WAS 203 NONTRADITIONAL UNDERGRADUATE STUDENTS, 1130 TRADITIONAL STUDENTS IN THE FALL, 246 NON-TRADITIONAL AND 1050 TRADITIONAL STUDENTS IN THE SPRING, AND 224 GRADUATE STUDENTS IN THE FALL AND 225 GRADUATE STUDENTS IN THE SPRING.
ACADEMIC SUPPORT:ACADEMIC SUPPORT INCLUDES THE LIBRARY, ADMISSIONS, FINANCIAL AID, INFORMATION TECHNOLOGY AND THOSE FUNCTIONS THAT DIRECTLY SUPPORT INSTRUCTION.
AUXILIARY ENTERPRISES:AUXILIARY ENTERPRISES AT MIDLAND UNIVERSITY ARE COMPRISED OF 9 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING FACILITY, AND A BOOKSTORE FOR FACULTY, STAFF AND STUDENTS. 570 STUDENTS RESIDED IN STUDENT HOUSING DURING FALL 2023 AND 524 STUDENTS DURING SPRING 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jody Horner President | OfficerTrustee | 40 | $296,694 |
Amber Barton Director | Trustee | 1 | $0 |
Bret Greiss Director | Trustee | 1 | $0 |
Brett Richmond Director | Trustee | 1 | $0 |
Jamie Williams Director (term. 05/2023) | Trustee | 1 | $0 |
Mark Fahelson Director (term. 05/2023) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fresh Ideas Food Services | 5/30/24 | $1,747,875 |
National Management Maintenance & Custodial Services | 5/30/24 | $1,093,000 |
Mediaspark Marketing Services | 5/30/24 | $810,000 |
Navigator Motorcoaches Inc Transportation Services | 5/30/24 | $401,209 |
Ideal Images Apparel And Equipment | 5/30/24 | $335,351 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $22,330 |
| Related organizations | $0 |
| Government grants | $1,075,671 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,110,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,208,081 |
| Total Program Service Revenue | $54,228,156 |
| Investment income | $457,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $488 |
| Net Gain/Loss on Asset Sales | $1,408,788 |
| Net Income from Fundraising Events | -$1,866 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,301,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $29,548,973 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $707,658 |
| Compensation of current officers, directors, key employees. | $122,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,388,298 |
| Pension plan accruals and contributions | $296,232 |
| Other employee benefits | $2,699,626 |
| Payroll taxes | $874,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $91,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,047 |
| Fees for services: Other | $460,527 |
| Advertising and promotion | $384,923 |
| Office expenses | $609,575 |
| Information technology | $401,621 |
| Royalties | $0 |
| Occupancy | $1,844,941 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,510 |
| Interest | $455,470 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,272,523 |
| Insurance | $551,344 |
| All other expenses | $2,261,649 |
| Total functional expenses | $62,839,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,974,483 |
| Pledges and grants receivable | $1,396,380 |
| Accounts receivable, net | $656,135 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $922,221 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $32,267,266 |
| Investments—publicly traded securities | $26,056,960 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,362,436 |
| Total assets | $73,635,881 |
| Accounts payable and accrued expenses | $2,570,234 |
| Grants payable | $641,977 |
| Deferred revenue | $625,988 |
| Tax-exempt bond liabilities | $15,316,650 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,240,570 |
| Total liabilities | $20,395,419 |
| Net assets without donor restrictions | $17,032,773 |
| Net assets with donor restrictions | $36,207,689 |
| 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 | $73,635,881 |