Samuel Merritt University
- Assets
- $566.0m
- Revenue
- $113.9m
- Investments
- $0.0
- Employees
- 989
- Location
- Oakland, CA
- Founding
- 05/1986
- Data as of
- 12/2023
- EIN
- 94-2992642
Organization Overview
Samuel Merritt University is located in Oakland, CA. The organization was established in 1986. 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 12/2023, Samuel Merritt University employed 989 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Samuel Merritt 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 12/2023, Samuel Merritt University generated $113.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $107.6m during the year ending 12/2023. While expenses have increased by 5.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SAMUEL MERRITT UNIVERSITY EDUCATES STUDENTS TO BECOME HIGHLY SKILLED AND COMPASSIONATE HEALTH CARE PROFESSIONALS WHO POSITIVELY TRANSFORM THE EXPERIENCE OF CARE IN DIVERSE COMMUNITIES.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 60 | $908,546 |
Name Not Listed Regent & Vice-Chair | Trustee | 5 | $0 |
Name Not Listed Regent | Trustee | 5 | $0 |
Name Not Listed Regent & Chief Nursing Officer | Trustee | 5 | $0 |
Name Not Listed Regent | Trustee | 5 | $0 |
Name Not Listed Regent | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Strada T5t6 Manager Llc Construction Management | 12/30/23 | $4,383,206 |
Hood & Strong Llp Audit | 12/30/23 | $279,598 |
Novus Law Firm Inc Legal | 12/30/23 | $225,967 |
Issquared Inc Infrastructure And Technical Services | 12/30/23 | $156,065 |
Baker Tilly Us Llp Consulting | 12/30/23 | $121,318 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,070,258 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,066,828 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,137,086 |
| Total Program Service Revenue | $91,453,088 |
| Investment income | $7,095,245 |
| Tax Exempt Bond Proceeds | $3,416,738 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,133,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $113,903,074 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,956,586 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,494,119 |
| Compensation of current officers, directors, key employees. | $2,511,627 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,991,258 |
| Pension plan accruals and contributions | $2,571,614 |
| Other employee benefits | $6,798,649 |
| Payroll taxes | $2,784,495 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,209,388 |
| Fees for services: Accounting | $481,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $371,379 |
| Fees for services: Other | $184,139 |
| Advertising and promotion | $289,918 |
| Office expenses | $948,305 |
| Information technology | $1,818,170 |
| Royalties | $0 |
| Occupancy | $9,196,394 |
| Travel | $759,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,384 |
| Interest | $5,995,073 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,738,909 |
| Insurance | $1,488,312 |
| All other expenses | $992,974 |
| Total functional expenses | $107,618,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,741,077 |
| Pledges and grants receivable | $5,487,614 |
| Accounts receivable, net | $1,446,247 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,155,376 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,337,306 |
| Net Land, buildings, and equipment | $73,342,681 |
| Investments—publicly traded securities | $351,575,030 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,949,030 |
| Total assets | $566,034,361 |
| Accounts payable and accrued expenses | $17,742,207 |
| Grants payable | $0 |
| Deferred revenue | $3,700,475 |
| Tax-exempt bond liabilities | $137,516,014 |
| 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 | $111,095,891 |
| Total liabilities | $270,054,587 |
| Net assets without donor restrictions | $201,807,832 |
| Net assets with donor restrictions | $94,171,942 |
| 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 | $566,034,361 |