Marymount California University
- Assets
- $0.0
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 24
- Location
- Palos Verdes Peninsula, CA
- Founding
- 03/1946
- Data as of
- 01/2024
- EIN
- 95-2113260
Organization Overview
Marymount California University is located in Palos Verdes Peninsula, CA. The organization was established in 1946. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 01/2024, Marymount California University employed 24 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Marymount California 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 01/2024, Marymount California University generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (30.9%) each year. All expenses for the organization totaled $53.9m during the year ending 01/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2024, Marymount California University has awarded 12 individual grants totaling $53,265,273. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MARYMOUNT CALIFORNIA UNIVERSITY IS A CATHOLIC INSTITUTION THAT WELCOMES STUDENTS OF ALL FAITHS AND BACKGROUNDS INTO A QUALITY, VALUES-BASED EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION IS DISSOLVING: DISTRIBUTION OF ASSETS PER BYLAWS TO OTHER 503(C)(3) ORGANIZATIONS TO SUPPORT EDUCATIONAL AND SCHOLARSHIP GRANTING ACTIVITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Marcotte President | OfficerTrustee | 40 | $236,548 |
Bret Johnsen Chair | Trustee | 1 | $0 |
Rick Edler Vice Chair | Trustee | 1 | $0 |
Sr Antoine-Marie Baurier Secretary | Trustee | 1 | $0 |
Caroline Sayers Chair, Admissions, Retention, S.a. | Trustee | 1 | $0 |
Dr Sue Soldoff Development Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adler & Colvin A Law Corporation Legal Services | 1/30/24 | $348,977 |
Tkc Management Llc Property Management | 1/30/24 | $196,478 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,603,167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,603,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $53,265,273 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $168,557 |
| Compensation of current officers, directors, key employees. | $168,557 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $211,397 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $86,565 |
| Payroll taxes | $18,564 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $108,815 |
| Fees for services: Accounting | $6,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,300 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,233 |
| Information technology | $7,383 |
| Royalties | $0 |
| Occupancy | $18,654 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,006 |
| All other expenses | $5,103 |
| Total functional expenses | $53,914,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Marymount California University has awarded $53,265,273 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MARYMOUNT EDUCATION FOUNDATION PURPOSE: EDUCATIONAL GRANTS/PROGRAMS | $46,264,925 |
MARYMOUNT EDUCATION FOUNDATION PURPOSE: MEF RESERVE FUND TO PAY OBLIGATIONS OF MCU AFTER MCU'S DISSOLUTION AND DISTRIBUTION OF ALL ASSETS TO MEF IN ACCORDANCE WITH A MCU MEF GRANT AGREEMENT. | $4,874,038 |
MARYMOUNT EDUCATION FOUNDATION PURPOSE: EDUCATIONAL GRANTS/PROGRAMS | $285,739 |
MARYMOUNT EDUCATION FOUNDATION PURPOSE: REVERSIONARY INTEREST IN PREPAID RENT VESTED IN THE MARYMOUNT EDUCATION FOUNDATION (MEF) (PER A GRANT AGREEMENT) ON BEHALF OF MARYMOUNT CALIFORNIA UNIVERSITY AND ITS SUCCESSORS/ASSIGNS. THE PREPAID RENT IS FOR A RESIDENTIAL UNIT OCCUPIED BY SR. ANTONIE-MARIE BAURIER, EMPLOYEE/OFFICER AND MEMBER OF THE CATHOLIC CHURCH ORDER RELIGIOUS OF THE SACRED HEART OF MARY AFTER 50 YEARS OF SERVICE TO THE ORDER AND THE UNIVERSITY UNDER A VOW OF POVERTY. WHEN THE UNIT IS NO LONGER OCCUPIED, THE RESIDUAL OF THE PREPAID RENT WILL REVERT TO MEF, MCU'S GRANTEE/DISTRIBUTEE. | $382,800 |
MARYMOUNT EDUCATION FOUNDATION PURPOSE: 5 YEAR PREPAID DOCUMENT STORAGE RENT TO HOLD MARYMOUNT CALIFORNIA UNIVERSITY'S EDUCATIONAL, BUSINESS, ORGANIZATIONAL, AND OTHER DOCUMENTS FOR RECORD RETENTION. | $14,749 |
KALAMAZOO COLLEGE PURPOSE: SUPPORT EDUCATIONAL AND SCHOLARSHIP GRANTING ACTIVITIES THROUGH THE "HUBERT AND KATHERING PHELAN AND KATHLEEN PHELAN VOLLMER MERMORIAL ENDOWED SCHOLARSHIP" FUND. | $103,605 |