Civic Intelligence

Mount St. Joseph University

990 • Fiscal year 2022 • EIN 23-7179567

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 27, 2023

5701 Delhi RoadCincinnati, OH 45233-1670

(513) 244-4200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

39th percentile

0.18x

Higher debt load relative to assets than 39% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

41st percentile

0.33x

Higher debt load relative to revenue than 41% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

48th percentile

4.7%

Higher net margin than 48% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

54th percentile

$497,256

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

23rd percentile

-8.9%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

68th percentile

13%

Faster revenue growth than 68% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$123,997,670

Down $12,079,039 (-8.9%) from 2021

Net Assets

Down

$101,135,683

Down $11,056,734 (-9.9%) from 2021

Liabilities

Down

$22,861,987

Down $1,022,305 (-4.3%) from 2021

Revenue

Up

$69,791,605

Up $8,103,442 (+13%) from 2021

Expenses

Up

$66,513,409

Up $8,548,119 (+15%) from 2021

Net Income

Down

$3,278,196

Down $444,677 (-12%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $70,396,339Liabilities 2010: $26,022,321Net Assets 2010: $44,374,0182010Assets 2011: $77,109,909Liabilities 2011: $24,392,734Net Assets 2011: $52,717,1752011Assets 2012: $79,029,129Liabilities 2012: $24,243,098Net Assets 2012: $54,786,0312012Assets 2013: $81,400,177Liabilities 2013: $23,437,354Net Assets 2013: $57,962,8232013Assets 2014: $86,477,864Liabilities 2014: $24,620,247Net Assets 2014: $61,857,6172014Assets 2015: $87,001,650Liabilities 2015: $23,407,304Net Assets 2015: $63,594,3462015Assets 2016: $84,170,647Liabilities 2016: $23,037,769Net Assets 2016: $61,132,8782016Assets 2017: $89,275,979Liabilities 2017: $21,031,417Net Assets 2017: $68,244,5622017Assets 2018: $86,882,065Liabilities 2018: $12,431,230Net Assets 2018: $74,450,8352018Assets 2019: $110,201,586Liabilities 2019: $11,776,642Net Assets 2019: $98,424,9442019Assets 2020: $112,386,817Liabilities 2020: $17,720,207Net Assets 2020: $94,666,6102020Assets 2021: $136,076,709Liabilities 2021: $23,884,292Net Assets 2021: $112,192,4172021Assets 2022: $123,997,670Liabilities 2022: $22,861,987Net Assets 2022: $101,135,6832022Assets 2023: $122,919,936Liabilities 2023: $23,696,864Net Assets 2023: $99,223,0722023Assets 2024: $125,333,605Liabilities 2024: $24,669,674Net Assets 2024: $100,663,9312024

Highlighted filing

2022

Assets$123,997,670
Liabilities$22,861,987
Net Assets$101,135,683

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MExpenses 2010: $49,111,6442010Expenses 2011: $51,556,2722011Expenses 2012: $50,973,1992012Expenses 2013: $53,010,7892013Revenue 2014: $55,051,384Expenses 2014: $54,285,209Net Income 2014: $766,1752014Revenue 2015: $55,381,101Expenses 2015: $52,469,872Net Income 2015: $2,911,2292015Revenue 2016: $50,605,213Expenses 2016: $51,130,820Net Income 2016: -$525,6072016Revenue 2017: $52,008,683Expenses 2017: $50,218,325Net Income 2017: $1,790,3582017Revenue 2018: $58,020,774Expenses 2018: $51,691,521Net Income 2018: $6,329,2532018Revenue 2019: $76,378,968Expenses 2019: $54,942,291Net Income 2019: $21,436,6772019Revenue 2020: $58,322,667Expenses 2020: $58,605,681Net Income 2020: -$283,0142020Revenue 2021: $61,688,163Expenses 2021: $57,965,290Net Income 2021: $3,722,8732021Revenue 2022: $69,791,605Expenses 2022: $66,513,409Net Income 2022: $3,278,1962022Revenue 2023: $65,158,612Expenses 2023: $69,801,767Net Income 2023: -$4,643,1552023Revenue 2024: $68,009,717Expenses 2024: $73,365,699Net Income 2024: -$5,355,9822024

Highlighted filing

2022

Revenue$69,791,605
Expenses$66,513,409
Net Income$3,278,196
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 27, 2023
Return Version
2021v4.2
Gross Receipts
$98,099,160
Mission and Program Overview

Mission

Mount st. Joseph university is a catholic academic community grounded in the spiritual values and vision of its founders, the sisters of charity. The university educates its students through interdisciplinary liberal arts and professional curricula emphasizing values, integrity and social responsibility. Members of the mount community embrace excellence in academic endeavors, the integration of life and learning, respect and concern for all persons, diversity of cultures and beliefs, and service to others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$78,822,527$68,530,938▼ $10,291,589
Land, Buildings, and Equipment, Net$37,365,247$36,311,337▼ $1,053,910
Pledges and Grants Receivable$4,856,659$8,771,973▲ $3,915,314
Cash and Non-Interest-Bearing Accounts$3,525,352$3,234,175▼ $291,177
Savings and Temporary Cash Investments$6,679,386$2,447,834▼ $4,231,552
Other Notes and Loans Receivable, Net$1,548,300$1,586,815▲ $38,515
Accounts Receivable$1,597,527$1,290,229▼ $307,298
Prepaid Expenses and Deferred Charges$1,375,285$1,058,357▼ $316,928
Investments Other Securities$0$451,066▲ $451,066
Inventories for Sale or Use$0$51,099▲ $51,099
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$136,076,709$123,997,670▼ $12,079,039
Other Assets Total$306,426$263,847▼ $42,579
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,906,343$14,176,545▲ $3,270,202
Accounts Payable and Accrued Expenses$3,385,061$3,600,179▲ $215,118
Tax Exempt Bond Liabilities$3,167,201$0▼ $3,167,201
Deferred Revenue$3,957,599$2,208,580▼ $1,749,019
Grants Payable$1,711,610$1,593,503▼ $118,107
Other Liabilities$756,478$1,283,180▲ $526,702
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$23,884,292$22,861,987▼ $1,022,305
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$65,171,484$60,412,199▼ $4,759,285
Net Assets With Donor Restrictions$47,020,933$40,723,484▼ $6,297,449
Total Net Assets Fund Balance$112,192,417$101,135,683▼ $11,056,734
Total Liabilities and Net Assets / Fund Balance$136,076,709$123,997,670▼ $12,079,039

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$7,240,407$39,873,398$47,113,805
Buildings$22,325,870$13,311,647$35,637,517
Equipment$1,983,813$18,760,325$20,744,138
Other Land Buildings$1,878,919$12,125,597$14,004,516
Land$2,882,328-$2,882,328

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$74,171,001$407,287▼ $9,171,952$2,274,687$61,720,032
2020$58,800,587$720,261▲ $18,186,846$2,517,658$74,171,001
2019$59,653,614$521,961▲ $439,073$620,181$58,800,587
2018$39,715,342$19,275,613▲ $3,182,630$1,459,694$59,653,614
2017$42,688,952$335,762▲ $2,003,367$4,378,054$39,715,342
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-PresidentFT$301,559$195,697$497,256
-Secretary/vice PresidentFT$179,354$19,062$198,416
-Treasurer & CFOFT$153,881$40,047$193,928
-ProvostFT$174,142$18,263$192,405
-Chairperson/program DirectorFT$141,962$27,974$169,936
-Dean School of Health SciencesFT$130,343$28,647$158,990
-VP Marketing & CommunicationsFT$150,000$8,250$158,250
-Dean School of BusinessFT$133,045$22,603$155,648
-Chairperson & Professor Pt DepFT$134,362$17,040$151,402

Board Members and Trustees

NameTitle
-Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Avi Foodsystems INCFood Service/catering2950 ELM ROAD NE, SUITE 2900, Warren, OH 44483, Ca$1,112,922
Messer Construction CoConstruction643 W COURT STREET, Cincinnati, OH 45203-1511$855,443
Loogol CorpInformation Technology Services425 WALNUT, Cincinnati, OH 45202-3957$268,905
TaftLegal Services221 E 4TH STREET, Cincinnati, OH 45202$259,804
Ernst & Young LLPAccounting Services-$124,655
Revenue and Support

Revenue Composition

Contributions and Grants
$14,911,862
Program Service Revenue
$49,302,613
Investment Income
$4,763,695
Other Revenue
$813,435
All Other Contributions
$2,050,607
Change in Net Assets
$3,278,196

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$25,092Selling cost
Other Non Cash Contri Table1$1,500Market value
Total Noncash Contributions2$26,592-

Audited Revenue Reconciliation

Revenue per Audited Statements
$69,682,495
Revenue Not Reported on Financial Statements
$109,110
Revenue Not Reported on Form 990
$-14,268,095
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$55,414,400
Total Revenue per Form 990
$69,791,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$29,499,048
Grants and Similar Amounts Paid$19,609,797
Other Expenses$17,404,564
Total Fundraising Expense$888,622
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,700,502$2,014,489$534,869$22,249,860
Grants to Domestic Individuals$19,369,657--$19,369,657
Depreciation Depletion$3,347,469$1,029,827-$4,377,296
Other Employee Benefits$2,981,214$273,143$78,589$3,332,946
Office Expenses$2,189,987$284,154$34,978$2,509,119
Fees for Services Other$1,985,426$126,211$5,613$2,117,250
Payroll Taxes$1,393,035$190,416$37,583$1,621,034
Advertising$1,236,436$82,487$57,576$1,376,499
Pension Plan Contributions$1,010,831$133,644$29,560$1,174,035
Current Officers, Directors, Trustees, and Key Employees$198,973$922,200-$1,121,173
Occupancy$820,789$204,832-$1,025,621
All Other Expenses$725,092$256,658$0$981,750
Travel$690,420$18,149$740$709,309
Information Technology$589,399--$589,399
Insurance$419,628--$419,628
Interest$15,207$325,776-$340,983
Grants to Domestic Orgs$240,140--$240,140
Other Expenses$230,000$99,932$4,550$230,000
Fees for Services Legal-$196,760-$196,760
Conferences and Meetings$125,992$41,824$6,842$174,658
Fees for Services Accounting-$131,414-$131,414
Fees for Service Investment Mgmnt Fees-$71,355-$71,355
Total Functional Expenses$59,051,706$6,573,081$888,622$66,513,409

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$66,513,409
Total Expenses per Audited Statements$66,471,134
Expenses per Audited Statements$66,404,299
Expenses Not Reported on Financial Statements$109,110
Expenses Not Reported on Form 990$66,835
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of CincinnatiCincinnati, OH501(c)(3)PRIMARY CARE TRAINING AND ENHANCEMENT: IMPLEMENTING A FELLOWSHIP FOR PHYSICIANS AND PHYSICIAN ASSISTANTS; TEACHING MEDICAL COMPONENT AND MENTOR ING$240,140
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$66,835
Fundraising Gross Income$18,197
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Scholarship Benefit$172,335$0$23,260$-23,260
Athletic Golf Outings$26,613$18,197$176$18,021
Total Events$198,948$18,197$66,835$-48,638
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$642,708
Finance Lease Liability$640,472
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 BUSINESS RELATIONSHIPS

The university is aware of relationships between members of the board of trustees, their companies, and other board members and their companies but considers these relationships focused on services normal in the course of business.

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

TIM AUG - Business relationship, BRIAN DOYLE - Business relationship, STEVE MULLINGER - Business relationship

Form 990, Part VI, Line 6 Classes of members or stockholders

The members of the university corporation are the members of the corporation board for sponsored ministries appointed by the sisters of charity of cincinnati, ohio.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

The board of trustees of the university are elected by the members of the corporation board for sponsored ministries of the sisters of charity of cincinnati, ohio.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

The sisters of charity of cincinnati, ohio is the sponsoring order of the university. Certain recommendations from the board of trustees (such as the election or removal of the ceo) must be approved by the sisters of charity corporation board. Other approval powers vested in the sisters of charity leadership council include any changes to the mission, philosophical direction or purposes; establishing separate corporations; adoption repeal, or amendment of the articles of incorporation or code of regulation; acquiring capital financing and the amortization of debt; the purchases, sale, lease or disposition of real property or other assets or the incurring of debt or other obligations that exceed the monetary limit set annually by the leadership council; appointment of external auditors; or any items in the capital or operating budget inferring a subsidy from congregational funds.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Draft copies of the form 990 are presented to the financial sustainability committee and/or the executive committee of the board of trustees for the review prior to filing. After discussion, modifications or changes are incorporated into the draft. This revised draft is then presented to the full board of trustees for review and discussion. Open items after this discussion will be taken back to the executive committee of the board for final approval. Once it has been approved, it will be made available to the entire board of trustees before filing.

Form 990, Part VI, Line 12C Conflict of interest policy

All officers, trustees, employees, and non-trustee board committee members are required to complete a conflict of interest policy statement annually. The vp of compliance risk and legal affairs/general counsel is responsible for distribution, collection, and review of all completed statements. Upon review, officer, trustee, and non-trustee board committee members statements are forwarded to the financial sustainability committee chair for further review and documentation of any conflicts. A conflict is determined to exist when a person has a business relationship with the university either personally or through his or her employer. Anyone who has been determined to have a conflict shall recuse him or herself from votes relating to the conflict. Such recusal is documented in board minutes.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The university used independent data from like institutions for similarly qualified persons in functionally comparable positions to determine compensation ranges. The university has an annual process for independent review of officer salaries whereby the executive committee compares salary data for the president and other university officers to actual salary amounts. Under normal circumstances these amounts are approved by the executive committee of the board of trustees. Reviewed in 2021.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The university used independent data from like institutions for similarly qualified persons in functionally comparable positions to determine compensation ranges. The university has an annual process for independent review of officer salaries whereby the executive committee compares salary data for the president and other university officers to actual salary amounts. Under normal circumstances these amounts are approved by the executive committee of the board of trustees. Positions included are officers & key employee - treasurer, secretary and provost (highest academic leadership position). Reviewed in 2021.

Form 990, Part VI, Line 19 Required documents available to the public

The university will disclose referenced documents to the public upon request.

Filing and Contact Details

Filer

Filer Name
Mount St Joseph University
EIN
23-7179567
Phone
5132444200
Address
5701 DELHI ROAD, CINCINNATI, OH 45233-1670

Signing Officer

Name
Jeffrey C Briggs
Title
Chief Financial Officer
Phone
5132444803
Signed
2023-04-27
Discuss with paid preparer
Yes

Organization Details

Formed
1971
Legal Domicile
Oh
Voting Board Members
29
Independent Board Members
28
Employees
968
Volunteers
48

Preparer

Firm
Ernst & Young US Llp
Address
221 EAST 4TH STREET SUITE 2900, CINCINNATI, OH 45202
Preparer
Alison Meehan
Phone
5136121400
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 ORGANIZATION'S MISSION

Mount st. Joseph university is a catholic academic community grounded in the spiritual values and vision of its founds, the sisters of charity. The university educates its students through interdisciplinary liberal arts and professional curricula emphasizing values, integrity and social responsibility. Members of the mount community embrace excellence in academic endeavors, the integration of life and learning, respect and concern for all persons, diversity of cultures and beliefs, and service to others.

Form 990, Part III, Line 1 ORGANIZATION'S MISSION

Mount st. Joseph university is a catholic academic community grounded in the spiritual values and vision of its founds, the sisters of charity. The university educates its students through interdisciplinary liberal arts and professional curricula emphasizing values, integrity and social responsibility. Members of the mount community embrace excellence in academic endeavors, the integration of life and learning, respect and concern for all persons, diversity of cultures and beliefs, and service to others.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in beneficial interest in trust - -42579; change in annuity liability - 20757; change in fair value of interest rate swap - 451066;

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

Organization's intended use of endowment funds the university's endowment fund is primarily used to fund scholarships and aid to students. Other uses include instructional, academic support, and plant operations.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The university is exempt from federal income tax under section 501(c)(3) of the internal revenue code. Management is not aware of any course of action or series of events that have occurred that might adversely affect the university's exempt status. The university applies the provisions of fasb asc 740, income taxes, in regards to uncertain tax positions. The university completed an analysis of its tax positions at june 30, 2022 and 2021, and determined that no amounts were required to be recognized in the financial statements.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

CHANGE IN BENEFICIAL INTEREST IN TRUST - -42579 CHANGE ON ANNUITY LIABILITY - 20757 CHANGE IN FAIR VALUE INTEREST RATE SWAP - 451066 FUNDRAISING EVENT EXPENSE - 66835 Rounding - -1

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Fundraising event expense - 66835

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt330
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt340
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt350

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$125$24.7$101$68.0$73.4$5.36
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$123$23.7$99.2$65.2$69.8$4.64
2022Detailed filing. Detailed filing data is available for this year.$124$22.9$101$69.8$66.5$3.28
2021Detailed filing. Detailed filing data is available for this year.$136$23.9$112$61.7$58.0$3.72
2020Detailed filing. Detailed filing data is available for this year.$112$17.7$94.7$58.3$58.6$0.28
2019Detailed filing. Detailed filing data is available for this year.$110$11.8$98.4$76.4$54.9$21.4
2018Detailed filing. Detailed filing data is available for this year.$86.9$12.4$74.5$58.0$51.7$6.33
2017Detailed filing. Detailed filing data is available for this year.$89.3$21.0$68.2$52.0$50.2$1.79
2016Detailed filing. Detailed filing data is available for this year.$84.2$23.0$61.1$50.6$51.1$0.53
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$87.0$23.4$63.6$55.4$52.5$2.91
2014Detailed filing. Detailed filing data is available for this year.$86.5$24.6$61.9$55.1$54.3$0.77
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$81.4$23.4$58.0$53.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.0$24.2$54.8$51.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.1$24.4$52.7$51.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.4$26.0$44.4$49.1