Civic Intelligence

John Carroll University

990 • Fiscal year 2024 • EIN 34-0714681

Jun 01, 2023 to May 31, 2024 • Filed on Apr 02, 2025

1 John Carroll BoulevardUniversity Heights, OH 44118

(216) 397-1886

Siviq Scores

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

Liabilities / Assets

55th percentile

0.33x

Higher debt load relative to assets than 55% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

1.17x

Higher debt load relative to revenue than 77% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

36th percentile

0.1%

Higher net margin than 36% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

27th percentile

$484,904

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

33rd percentile

3.1%

Faster asset growth than 33% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

37th percentile

5.4%

Faster revenue growth than 37% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$602,686,700

Up $18,359,544 (+3.1%) from 2023

Net Assets

Up

$403,326,833

Up $17,320,665 (+4.5%) from 2023

Liabilities

Up

$199,359,867

Up $1,038,879 (+0.5%) from 2023

Revenue

Up

$171,061,424

Up $8,805,341 (+5.4%) from 2023

Expenses

Up

$170,861,188

Up $1,533,907 (+0.9%) from 2023

Net Income

Up

$200,236

Up $7,271,434 (+103%) from 2023

Historical Trend

Balance Sheet Trend

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

$800M$600M$400M$200M$0Assets 2010: $374,033,988Liabilities 2010: $91,236,590Net Assets 2010: $282,797,3982010Assets 2011: $392,298,727Liabilities 2011: $86,885,322Net Assets 2011: $305,413,4052011Assets 2012: $386,855,245Liabilities 2012: $87,112,986Net Assets 2012: $299,742,2592012Assets 2013: $401,054,125Liabilities 2013: $80,439,220Net Assets 2013: $320,614,9052013Assets 2014: $429,139,592Liabilities 2014: $93,793,418Net Assets 2014: $335,346,1742014Assets 2015: $443,235,382Liabilities 2015: $97,948,506Net Assets 2015: $345,286,8762015Assets 2016: $416,671,873Liabilities 2016: $95,897,761Net Assets 2016: $320,774,1122016Assets 2017: $434,110,915Liabilities 2017: $96,490,984Net Assets 2017: $337,619,9312017Assets 2018: $452,353,927Liabilities 2018: $91,495,538Net Assets 2018: $360,858,3892018Assets 2019: $446,918,278Liabilities 2019: $89,425,305Net Assets 2019: $357,492,9732019Assets 2020: $446,118,566Liabilities 2020: $87,750,187Net Assets 2020: $358,368,3792020Assets 2021: $528,656,336Liabilities 2021: $106,451,331Net Assets 2021: $422,205,0052021Assets 2022: $596,841,319Liabilities 2022: $200,702,041Net Assets 2022: $396,139,2782022Assets 2023: $584,327,156Liabilities 2023: $198,320,988Net Assets 2023: $386,006,1682023Assets 2024: $602,686,700Liabilities 2024: $199,359,867Net Assets 2024: $403,326,8332024Assets 2025: $629,703,784Liabilities 2025: $208,045,051Net Assets 2025: $421,658,7332025

Highlighted filing

2024

Assets$602,686,700
Liabilities$199,359,867
Net Assets$403,326,833

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2010: $125,574,6132010Expenses 2011: $130,769,5612011Expenses 2012: $137,977,4652012Expenses 2013: $142,849,5582013Revenue 2014: $150,970,622Expenses 2014: $151,266,435Net Income 2014: -$295,8132014Revenue 2015: $159,222,835Expenses 2015: $157,858,904Net Income 2015: $1,363,9312015Revenue 2016: $155,814,860Expenses 2016: $158,589,643Net Income 2016: -$2,774,7832016Revenue 2017: $160,114,046Expenses 2017: $167,365,305Net Income 2017: -$7,251,2592017Revenue 2018: $174,959,907Expenses 2018: $166,584,924Net Income 2018: $8,374,9832018Revenue 2019: $169,999,196Expenses 2019: $168,457,169Net Income 2019: $1,542,0272019Revenue 2020: $162,621,372Expenses 2020: $170,251,920Net Income 2020: -$7,630,5482020Revenue 2021: $169,000,340Expenses 2021: $167,105,420Net Income 2021: $1,894,9202021Revenue 2022: $177,797,670Expenses 2022: $173,064,724Net Income 2022: $4,732,9462022Revenue 2023: $162,256,083Expenses 2023: $169,327,281Net Income 2023: -$7,071,1982023Revenue 2024: $171,061,424Expenses 2024: $170,861,188Net Income 2024: $200,2362024Revenue 2025: $187,965,161Expenses 2025: $178,695,767Net Income 2025: $9,269,3942025

Highlighted filing

2024

Revenue$171,061,424
Expenses$170,861,188
Net Income$200,236
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Apr 2, 2025
Return Version
2023v6.0
Gross Receipts
$180,799,296
Mission and Program Overview

Mission

As a jesuit catholic university committed to academic rigor, inclusive excellence, and care for the whole person, john carroll university inspires individuals of intellect and character to learn, lead and serve in the community and throughout the world.

As one of 28 jesuit catholic universities in the usa, john carroll university's mission is to inspire individuals to excel in learning, leadership, and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$226,779,851$249,556,044▲ $22,776,193
Investments in Publicly Traded Securities$126,797,813$141,086,175▲ $14,288,362
Investments Other Securities$91,824,968$111,573,960▲ $19,748,992
Savings and Temporary Cash Investments$130,730,977$91,802,064▼ $38,928,913
Prepaid Expenses and Deferred Charges$1,567,904$2,320,631▲ $752,727
Accounts Receivable$1,457,309$1,195,269▼ $262,040
Other Notes and Loans Receivable, Net$1,206,413$898,805▼ $307,608
Pledges and Grants Receivable$113,989$0▼ $113,989
Cash and Non-Interest-Bearing Accounts$48,952$44,936▼ $4,016
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0--
Loans From Officers Directors$0$0→ $0
Total Assets$584,327,156$602,686,700▲ $18,359,544
Other Assets Total$3,798,980$4,208,816▲ $409,836
Liabilities
Tax Exempt Bond Liabilities$177,608,752$176,380,728▼ $1,228,024
Accounts Payable and Accrued Expenses$14,959,343$16,910,814▲ $1,951,471
Other Liabilities$3,892,056$4,018,250▲ $126,194
Deferred Revenue$1,860,837$2,050,075▲ $189,238
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$198,320,988$199,359,867▲ $1,038,879
Net Assets / Fund Balance
Net Assets With Donor Restrictions$211,848,395$237,256,447▲ $25,408,052
Net Assets Without Donor Restrictions$174,157,773$166,070,386▼ $8,087,387
Total Net Assets Fund Balance$386,006,168$403,326,833▲ $17,320,665
Total Liabilities and Net Assets / Fund Balance$584,327,156$602,686,700▲ $18,359,544

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$173,121,341$127,243,415$276,280,742
Equipment$23,198,958$54,636,612$77,835,570
Other Land Buildings$37,032,816$27,358,992$64,177,996
Land$16,202,929-$5,436,701
Other Securities$15,314,318--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$262,595,617$4,382,479▲ $35,168,138$4,151,417$286,479,073
2022$271,247,678$3,018,513▲ $767,947$3,920,490$262,595,617
2021$289,408,515$10,092,915▼ $17,015,372$3,519,723$271,247,678
2020$228,659,697$3,428,065▲ $68,315,594$3,443,931$289,408,515
2019$223,538,691$4,403,762▲ $11,624,404$3,448,115$228,659,697
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alan MiciakPresidentFT$400,000$84,904$484,904
Richard DalyVP for University AdvancementFT$295,131$71,892$367,023
Steven HerbertProfessorFT$291,715$39,860$331,575
Elad GranotDean of Boler CollegeFT$269,125$44,155$313,280
Melissa ColeDean of the College of HealthFT$251,789$56,675$308,464
William ElliottProfessorFT$246,143$36,884$283,027
Robert ConnorsVP Finance & AdministrationFT$226,875$41,200$268,075
Bonnie GunzenhauserInterim VP of Academic AffairsFT$231,234$24,797$256,031
Albert NagyProfessorFT$212,713$40,667$253,380
Jeremiah SwetelAVP Facilities & Auxiliary SvcFT$191,375$38,172$229,547
Walter SimmonsProfessorFT$196,056$33,395$229,451
Colleen TremlGeneral CounselFT$195,973$14,226$210,199
Edward PeckVP for Univ Mission & IdentityFT$139,987$36,600$176,587
Naomi SiggVP of Student Experience & Campus BelongingFT$149,614$18,328$167,942
Sherri CrahenVP for Student Affairs (end 10/2023)FT$128,220$16,300$144,520
Carolyn SorgVP for Enrollment ManagementFT$119,783$7,514$127,297

Highest Paid Contractors

ContractorServicesLocationCompensation
Walsh Construction Company II LLCConstruction3031 West Grand Blvd, Ste 640, Detroit, MI 48202$12,776,613
The Krill Co IncConstruction1275 Main Ave, Cleveland, OH 44113$6,571,375
Eatn Park Hospitality GroupFood ServicePO Box 644091, Pittsburgh, PA 15264$5,284,928
Bostwick Design PartnershipArchitect Fees2729 Prospect Avenue, Cleveland, OH 44115$3,319,650
AbmJanitorial ServicePO Box 643823, Pittsburgh, PA 15264-3823$2,209,861
Revenue and Support

Revenue Composition

Contributions and Grants
$18,887,740
Program Service Revenue
$132,194,547
Investment Income
$20,260,653
Other Revenue
$-281,516
All Other Contributions
$16,929,034
Change in Net Assets
$200,236

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 Traded14$3,192,491Market value
Total Noncash Contributions14$3,192,491-

Audited Revenue Reconciliation

Revenue per Audited Statements
$104,505,602
Revenue Not Reported on Financial Statements
$66,555,822
Revenue Not Reported on Form 990
$21,083,258
Other Revenue Adjustments
$65,100,973
Total Revenue per Audited Statements
$125,588,860
Total Revenue per Form 990
$171,061,424
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$64,720,422
Salaries, Compensation, and Employee Benefits$55,364,524
Other Expenses$50,776,242
Total Fundraising Expense$2,965,517
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$64,720,422--$64,720,422
Other Salaries and Wages$31,726,703$4,260,977$1,498,403$37,486,083
Depreciation Depletion$11,245,298--$11,245,298
Other Employee Benefits$8,798,723$1,181,691$415,550$10,395,964
Occupancy$6,756,840$708,746$6,507$7,472,093
Fees for Services Other$4,645,845$152,288$51,192$4,849,325
Interest$2,999,152--$2,999,152
Payroll Taxes$2,427,119$325,968$114,629$2,867,716
Travel$2,385,692$131,519$221,359$2,738,570
Information Technology$2,419,323$98,157$98,938$2,616,418
Pension Plan Contributions$1,972,810$264,953$93,173$2,330,936
Office Expenses$2,320,894$1,613$3,305$2,325,812
Current Officers, Directors, Trustees, and Key Employees$1,932,937$259,598$91,290$2,283,825
Advertising$2,047,573$1,423$2,916$2,051,912
Conferences and Meetings$1,627,567$89,725$151,016$1,868,308
Other Expenses$1,239,163$176,407$75,263$1,490,833
Fees for Service Investment Mgmnt Fees-$1,454,849-$1,454,849
Insurance$1,037,588$85,224-$1,122,812
Fees for Services Management$367,342--$367,342
Fees for Services Legal-$159,902-$159,902
Fees for Services Accounting-$134,400-$134,400
Total Functional Expenses$157,905,819$9,989,852$2,965,517$170,861,188

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$170,861,188
Total Expenses per Audited Statements$108,268,195
Expenses per Audited Statements$104,305,366
Expenses Not Reported on Financial Statements$66,555,822
Other Expense Adjustments$65,100,973
Expenses Not Reported on Form 990$3,962,829
International Activity

International Summary

Offices
0
Employees
0
Spending
$73,901,512

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Investments-00$31,157,931
Central America and the CaribbeanInvestments-00$21,503,233
East Asia and the PacificInvestments-00$18,196,759
South AmericaInvestments-00$1,664,964
Middle East and North AfricaInvestments-00$832,482
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad00$521,384
South AmericaProgram ServicesStudy Abroad00$9,052
North America (Canada & Mexico only)Program ServicesStudy Abroad00$4,765
Central America and the CaribbeanProgram ServicesStudy Abroad00$2,986
South AsiaProgram ServicesStudy Abroad00$2,917
Sub-Saharan AfricaProgram ServicesStudy Abroad00$2,609
East Asia and the PacificProgram ServicesStudy Abroad00$1,696
Middle East and North AfricaProgram ServicesStudy Abroad00$734
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-TrusteeBusiness TransactionNo$934,500

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
Asset Retirement Obligations$3,606,148
Refundable Federal Student Loans$412,102

Bond Issues

BondIssuerIssuedIssue PricePurpose
COhio Higher Education Facility Commission2022-02-01$105,555,000Refund 2018 bond, remodel dorm
BOhio Higher Education Facility Commission2020-10-01$33,570,000Refinance mortgage remodel dormation
AOhio Higher Educational Facility Commission2016-02-01$22,320,000Refunding of the 2006 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$119,414,178--$705,436
B$38,637,149-$16,546,795$420,368
A$22,320,000-$18,435,359$305,952

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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
Yes
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

The board of member of john carroll university shall consist of: (1) the president of john carroll university, ex-officio member; (2) the rector of the john carroll jesuit community corporation, ex-officio member; (3) two members of the john carroll jesuit community corporation elected to serve two year staggered terms, by those members in good standing of the society of jesus who are assigned to the john carroll jesuit community corporation and provide service to or have been retired from the university.

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

The board of members shall have and exercise such powers and authority provided under applicable law as are consistent with the mission of the university, including without limitation, the powers to: (1) elect and to re-elect the directors of the corporation from the slate of nominees recommended by the board of directors (2) remove any director, upon recommendation of the board of directors

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

The board of members shall have and exercise such powers to amend the articles and the code of regulations; sell or dispose of all or substantially all of the assets of the corporation; and merge or dissolve the corporation.

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

The university's independent accounting firm prepares the form 990, which is presented to the university's audit committee for review and approval. The full public inspection copy of the final form 990 is provided to each member of the board of directors prior to it being filed with the irs. The public copy removes the names and addresses of the donors listed in schedule b of the form 990 filed with the irs.

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

The university has written conflict of interest policies that require its officers, directors, and employees to disclose potential conflicts of interest involving themselves and/or their family members. The university's employees are required to review the applicable policy on an annual basis, acknowledge compliance, and disclose any actual or potential conflict of interest. In addition, each member of the board of directors fills out an annual questionnaire in which potential conflicts of interest are disclosed. The response to these two processes are reviewed for any disclosed actual or potential conflicts of interest. The university's conflict of interest policy prohibits involvement in university decision-making by any officer, administrator, employee or director who has a conflict that is not managed. In the event of the existence of a conflict of interest, appropriate conflict management measures are implemented. Violations of the university's conflicts policies may result in sanctions, up to and including termination of employment.

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

The university's executive committee is responsible for establishing, reviewing and approving compensation levels for the university's president. The committee reviews comparable compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations in establishing compensation levels. The committee reviews the compensation of the university's president annually. Contemporaneous documentation and record keeping are recorded on all committee deliberations and decisions regarding the compensation arrangement for the university's president.

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

The university's executive committee is responsible for establishing, reviewing and approving compensation levels for the university's officers and key employees. The committee reviews comparable compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations in establishing compensation levels. The committee reviews the compensation of the university's officers and key employees annually. Contemporaneous documentation and record keeping are recorded on all committee deliberations and decisions regarding the compensation arrangement for the university's officers and key employees.

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

The university's form 1023 application for tax exemption and forms 990 and 990-t (current and prior three years) are available to the public upon request. The university's audited financial statements, articles of incorporation, code of regulations and conflict of interest policy are available to the public upon request.

Form 990, Part VIII, Line 11D Other Miscellaneous Revenue

MAINSAIL PARTNERS V - Total Revenue: -56660, Related or Exempt Function Revenue: , Unrelated Business Revenue: -56660, Revenue Excluded from Tax Under Sections 512, 513, or 514: ;

Filing and Contact Details

Filer

Filer Name
John Carroll University
EIN
34-0714681
Phone
2163971886
Address
1 JOHN CARROLL BOULEVARD, UNIVERSITY HEIGHTS, OH 44118

Signing Officer

Name
Robert Connors
Title
VP Finance and Admin
Phone
2163971886
Signed
2025-04-02
Discuss with paid preparer
Yes

Organization Details

Formed
1886
Legal Domicile
Oh
Voting Board Members
50
Independent Board Members
48
Employees
1,913
Volunteers
825

Preparer

Firm
Forvis Mazars LLP
Address
111 E Wayne Street Suite 600, Fort Wayne, IN 46802
Preparer
Lauren Denton
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 4

Alan miciak is a compensated board member and is therefore considered a nonindependent member. Jason therrien is nonindependent due to the transaction disclosed on schedule l.

Form 990, Part I, Line 6

A significant number of alumni and other friends of the university volunteer their time advancing the mission of the university and helping attract students to attend john carroll.

Form 990, Part III, Line 4A PROGRAM SERVICE

From its modest origin in 1886 as saint ignatius college on cleveland's near west side, john carroll today is widely recognized as a transformative university that excels in undergraduate and post-graduate education, attracting students from 29 states and 19 countries. The university strives to develop each student as a whole person - mind, body, and soul. At the same time, students are challenged to make a difference in the world through leadership and service. As a jesuit catholic university, john carroll offers a rigorous education based on a well-developed liberal arts core curriculum, including a variety of academic programs in the arts and sciences, and education. U.s. News and world report annually ranks john carroll among the top 5 universities in the midwest that grant master's degrees, and the university's john m. And mary jo boler college of business holds dual aacsb accreditation - an international distinction awarded by the association to advance collegiate schools of business placing it in the top five percent of business schools worldwide. A bloomberg businessweek survey of employers ranked the boler school of business number one in the nation in preparing students for careers. John carroll consistently ranks as one of the top schools in the midwest for retention rates and graduation rates, which significantly exceeds u.s. And ohio averages. The university's 13:1 student/faculty ratio ensures individual attention and an interactive experience. 85% of all classes have fewer than 30 students with no class exceeding 50 students. The university educated 2,287 undergraduate students and 486 graduate students; offered 43 bachelor degree majors and 22 graduate school programs; and conferred 616 bachelor and 226 masters degrees in the 2023-2024 academic year. John carroll is recognized for excellent retention and graduation rates. 85% of jcu freshmen return as sophomores, and 69% of jcuundergrads receive their bachelor's degrees in four years, compared with 53% of other four-year private schools nationwide, and 33% of four-year public schools. John carroll university has been named to the president's higher education community service honor roll multiple times. Service to others is a defining elementof the university, where more than two thirds of the student body participate in service activities. Students have many opportunities to engage with the local community from the time they are freshmen. Our students learn from distinguished faculty who are experts in their respective fields. 98% of our 143 full-time teaching faculty members hold doctoral degrees or the terminal degree in their field; nine are fulbright fellows. The majority of our faculty have published books, articles, or received research grants in the past two years. The university's varsity sports teams compete at the ncaa division iii intercollegiate level and have won over 100 league titles and have placed among the top 10 division iii schools in the nation on several occasions. More than 100 varsity athletes have been named division iii all-americans with over 20 individual national champions, three national players of the year and one academic all-american of the year. Nearly 500 undergraduates participate in 24 varsity men's and women's sports. Students also have access to intramural sports, club sports, and other fitness and recreational activities. John carroll university welcomes students and faculty from different religious backgrounds and value systems in the belief that the educational environment which the university provides is one which these students and faculty may find congenial, rewarding, and enriched by their presence. Within this environment there is concern for the human and spiritual developmental needs of the students and a deep respect for the freedom and dignity of the human person. A faculty not only professionally qualified, but also student oriented, considers excellence in interpersonal relationships as well as academic achie

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

Change in value of split-interest agreements - 419204;

Schedule F, Part V ADDITIONAL INFORMATION

The University provides several study-abroad opportunities for its students. Various programs are available each year, but not all programs listed below are offered every academic year. The University has long-standing and active bilateral student exchange agreements with Sophia University in Tokyo, Japan; Kansai Gaidai University in Kyoto, Japan; NEOMA Business School in Rouen, France; Comillas Pontifical University in Madrid, Spain; Institute Catholique d'Etudes Superieure in La Roche sur Yon, France; Sogang University in Seoul, South Korea; TU Dortmund in Dortmund, Germany; WHU Otto Beisheim in Vallendar, Germany; and University of Galway in Galway, Ireland. The University also has long-standing partnerships with Nanzan University in Japan; The University of Hull in England; Universidad Del Pacifico in Peru; Zagreb School of Management in Croatia; Australian Catholic University in Australia; National University of Maynooth, Ireland; Universita Cattolica Del Sacro Cuore in Italy; Regent's University in England; and University College Dublin in Ireland. The University also offers one in-house program in Rome, Italy. In addition, the university also works with University Studies Abroad Consortium (USAC), which offers study-abroad opportunities worldwide.

Financial Statement Notes

Schedule D, Part III, Line 1A

The university has elected not to capitalize the cost or value of its collection of works of art, historical treasures, and similar assets. There were no deaccessions during the year.

Schedule D, Part III, Line 4 Collections of art - description of collections

The university maintains a collection of books, journals, art, university archival materials, manuscripts and electronic resources. These items are housed and made available primarily through the grasselli library and breen learning center as essential resources for the educational experience of our students.

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

The university's endowment funds are invested and a portion of the income earned is used to support scholarships, programs, faculty work, or a specific area designated by the donor.

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

The university is exempt from income taxes under section 501(c)(3) of the internal revenue code and a similar provision of state law. However, the university is subject to federal income tax on any unrelated business taxable income. 1886 company, ltdl, ignatius, llc, loyola, llc, manresa, llc, inigo, llc and cura personalis, llc are wholly-owned limited liability companies that have elected to be treated as disregarded entities for u.s. Tax purposes. Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. Under provisions of the internal revenue code, the university is exempt from taxes on income, other than unrelated business income under code section 501(c)(3). The university had no material net unrelated business income during the years ended may 31, 2024 and 2023, and therefore no provision for income taxes has been made.

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

Rental expense reclass - 3962829 change in value of split interest agreements - 419204

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Student financial aid & scholarships - 64720422 other expense - 380551

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

Rental expense reclass - 3962829

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Student financial aid & scholarships - 64720422 other expense - 380551

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OfficerInd8X
IRS990/Form990PartVIISectionAGrp/OfficerInd9X
IRS990/Form990PartVIISectionAGrp/OfficerInd10X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt040528
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt200
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt240
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt250
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt260
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt270
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt280
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt290
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt300
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt310
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt320
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt330
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt340
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt350
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt360
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt370
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt380
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt390
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt400
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt410
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt420
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt430
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt440
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt450
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt470
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt480
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt490
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$630$208$422$188$179$9.27
2024Detailed filing. Detailed filing data is available for this year.$603$199$403$171$171$0.20
2023Detailed filing. Detailed filing data is available for this year.$584$198$386$162$169$7.07
2022Detailed filing. Detailed filing data is available for this year.$597$201$396$178$173$4.73
2021Detailed filing. Detailed filing data is available for this year.$529$106$422$169$167$1.89
2020Detailed filing. Detailed filing data is available for this year.$446$87.8$358$163$170$7.63
2019Detailed filing. Detailed filing data is available for this year.$447$89.4$357$170$168$1.54
2018Detailed filing. Detailed filing data is available for this year.$452$91.5$361$175$167$8.37
2017Detailed filing. Detailed filing data is available for this year.$434$96.5$338$160$167$7.25
2016Detailed filing. Detailed filing data is available for this year.$417$95.9$321$156$159$2.77
2015Detailed filing. Detailed filing data is available for this year.$443$97.9$345$159$158$1.36
2014Detailed filing. Detailed filing data is available for this year.$429$93.8$335$151$151$0.30
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$401$80.4$321$143
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$387$87.1$300$138
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$392$86.9$305$131
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$374$91.2$283$126