Civic Intelligence

Anderson University Inc.

990 • Fiscal year 2021 • EIN 35-0867954

Jun 01, 2020 to May 31, 2021 • Filed on Apr 05, 2022

1100 East 5th StreetAnderson, IN 46012

(765) 641-4001

Siviq Scores

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

Liabilities / Assets

66th percentile

0.44x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

1.08x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

27th percentile

1.2%

Higher net margin than 27% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

15th percentile

$219,557

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

34th percentile

6.6%

Faster asset growth than 34% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

13th percentile

-10%

Faster revenue growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$141,012,159

Up $8,755,882 (+6.6%) from 2020

Net Assets

Up

$79,605,062

Up $9,930,169 (+14%) from 2020

Liabilities

Down

$61,407,097

Down $1,174,287 (-1.9%) from 2020

Revenue

Down

$56,617,560

Down $6,602,708 (-10%) from 2020

Expenses

Down

$55,933,458

Down $4,445,954 (-7.4%) from 2020

Net Income

Down

$684,102

Down $2,156,754 (-76%) from 2020

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $144,809,590Liabilities 2010: $72,153,426Net Assets 2010: $72,656,1642010Assets 2011: $145,996,819Liabilities 2011: $71,990,681Net Assets 2011: $74,006,1382011Assets 2012: $143,475,865Liabilities 2012: $71,521,450Net Assets 2012: $71,954,4152012Assets 2013: $143,892,278Liabilities 2013: $69,255,445Net Assets 2013: $74,636,8332013Assets 2014: $144,240,704Liabilities 2014: $67,956,770Net Assets 2014: $76,283,9342014Assets 2015: $147,892,284Liabilities 2015: $70,552,789Net Assets 2015: $77,339,4952015Assets 2016: $140,047,764Liabilities 2016: $66,886,153Net Assets 2016: $73,161,6112016Assets 2017: $133,415,516Liabilities 2017: $62,233,675Net Assets 2017: $71,181,8412017Assets 2018: $134,547,786Liabilities 2018: $63,987,781Net Assets 2018: $70,560,0052018Assets 2019: $129,633,129Liabilities 2019: $63,546,346Net Assets 2019: $66,086,7832019Assets 2020: $132,256,277Liabilities 2020: $62,581,384Net Assets 2020: $69,674,8932020Assets 2021: $141,012,159Liabilities 2021: $61,407,097Net Assets 2021: $79,605,0622021Assets 2022: $135,263,076Liabilities 2022: $59,274,449Net Assets 2022: $75,988,6272022Assets 2023: $123,625,444Liabilities 2023: $51,122,169Net Assets 2023: $72,503,2752023Assets 2024: $130,755,276Liabilities 2024: $49,324,591Net Assets 2024: $81,430,6852024

Highlighted filing

2021

Assets$141,012,159
Liabilities$61,407,097
Net Assets$79,605,062

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $68,121,6642010Expenses 2011: $70,467,2182011Expenses 2012: $69,115,7592012Expenses 2013: $70,465,9792013Revenue 2014: $70,367,698Expenses 2014: $67,747,063Net Income 2014: $2,620,6352014Revenue 2015: $72,912,691Expenses 2015: $67,587,106Net Income 2015: $5,325,5852015Revenue 2016: $66,505,935Expenses 2016: $68,413,091Net Income 2016: -$1,907,1562016Revenue 2017: $65,777,844Expenses 2017: $65,874,655Net Income 2017: -$96,8112017Revenue 2018: $66,599,442Expenses 2018: $63,736,918Net Income 2018: $2,862,5242018Revenue 2019: $60,516,320Expenses 2019: $62,723,228Net Income 2019: -$2,206,9082019Revenue 2020: $63,220,268Expenses 2020: $60,379,412Net Income 2020: $2,840,8562020Revenue 2021: $56,617,560Expenses 2021: $55,933,458Net Income 2021: $684,1022021Revenue 2022: $63,226,796Expenses 2022: $61,763,774Net Income 2022: $1,463,0222022Revenue 2023: $62,889,443Expenses 2023: $63,953,678Net Income 2023: -$1,064,2352023Revenue 2024: $75,597,456Expenses 2024: $69,299,441Net Income 2024: $6,298,0152024

Highlighted filing

2021

Revenue$56,617,560
Expenses$55,933,458
Net Income$684,102
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Apr 5, 2022
Return Version
2020v4.2
Gross Receipts
$57,402,767
Mission and Program Overview

Mission

The mission of Anderson University is to educate for a life of faith and service in the church and society. Established and sustained within the free and open traditions of the Church of God, this university is committed to being a teaching-learning community of the highest order, engaged in the pursuit of truth from a Christian faith perspective. Through academic and Christian discovery, we intend to graduate people with a global perspective who are competent, caring, creative, generous individuals of character and potential. We will build those quality programs that will enable each member of the university to become stronger in body, mind, and spirit, to experience what it means to love God and neighbor, and to adopt Christ like servant ways in all of life. The mission statement and supporting statements were adopted by the Board of Trustees in 2007.

To educate persons for a life of faith and service in the church and society

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$62,267,068$60,862,855▼ $1,404,213
Investments in Publicly Traded Securities$36,737,250$48,774,631▲ $12,037,381
Savings and Temporary Cash Investments$9,226,256$9,178,488▼ $47,768
Investments Other Securities$8,807,034$5,072,102▼ $3,734,932
Accounts Receivable$2,524,328$3,054,408▲ $530,080
Pledges and Grants Receivable$2,971,708$3,036,858▲ $65,150
Investments Program Related$2,808,706$2,499,157▼ $309,549
Other Notes and Loans Receivable, Net$538,137$828,301▲ $290,164
Cash and Non-Interest-Bearing Accounts$1,692,378$651,690▼ $1,040,688
Prepaid Expenses and Deferred Charges$96,106$171,714▲ $75,608
Inventories for Sale or Use$116,444$0▼ $116,444
Total Assets$132,256,277$141,012,159▲ $8,755,882
Other Assets Total$4,470,862$6,881,955▲ $2,411,093
Liabilities
Tax Exempt Bond Liabilities$42,456,342$41,792,459▼ $663,883
Mortgage Notes Payable Secured by Investment Property$8,626,676$8,218,003▼ $408,673
Accounts Payable and Accrued Expenses$3,589,488$4,532,396▲ $942,908
Other Liabilities$5,964,565$4,321,428▼ $1,643,137
Deferred Revenue$1,665,916$2,293,786▲ $627,870
Unsecured Notes Loans Payable$278,397$249,025▼ $29,372
Total Liabilities$62,581,384$61,407,097▼ $1,174,287
Net Assets / Fund Balance
Net Assets With Donor Restrictions$41,357,691$53,994,666▲ $12,636,975
Net Assets Without Donor Restrictions$28,317,202$25,610,396▼ $2,706,806
Total Net Assets Fund Balance$69,674,893$79,605,062▲ $9,930,169
Total Liabilities and Net Assets / Fund Balance$132,256,277$141,012,159▲ $8,755,882

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$45,378,926$58,554,536$103,933,462
Equipment$8,526,607$15,231,007$23,757,614
Other Land Buildings$2,747,615$2,860,185$5,607,800
Land$4,209,707-$4,209,707

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$35,108,167$541,540▲ $11,143,494-$45,309,557
2019$33,676,629$1,243,693▲ $1,584,085$0$35,108,167
2018$37,543,463$692,044▼ $282,154$2,880,000$33,676,629
2017$35,383,533$1,242,172▲ $2,272,498-$37,543,463
2016$32,710,513$551,109▲ $3,488,009-$35,383,533
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John PistolePresidentFT$192,311$27,487$219,798
Marie S MorrisProvost and VP of CorporationFT$124,155$23,529$147,684
Brock VaughtersVP for Finance and TreasurerFT$105,569$28,156$133,725
Ray SylvesterAssoc Professor MarketingFT$104,326$24,867$129,193
Jennifer HuntVP Advancement and SecretaryFT$113,074-$113,074
Michael ColletteDean, Falls School of BusinessFT$108,564$170$108,734
Heather KimVP for Enrollment and MarketingFT$107,258$84$107,342
Suahil HousholderAsst Treasurer & ControllerFT$64,921$10,429$75,350
Ronda ReemerAssistant SecretaryFT$41,672$1,531$43,203

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Dining ServicesFood Service ManagementPO Box 417632, Boston, MA 02241$2,075,218
WFF Facility ServicesCustodial Services211 S Jefferson, St Louis, MO 63103$713,157
Oracle America IncComputer TechonologyPO Box 203448, Dallas, TX 75320$201,742
Enrollmentfuel LLCRecruiting Data144 West Second Street, Washington, NC 27889$194,946
Advanced Productivity Computing IncComputer Techonology14690 Galazie Avenue 116, Apple Valley, MN 55124$129,483
Revenue and Support

Revenue Composition

Contributions and Grants
$8,990,577
Program Service Revenue
$45,385,664
Investment Income
$1,885,785
Other Revenue
$355,534
All Other Contributions
$5,495,416
Change in Net Assets
$684,102

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 Traded5$150,629Selling price
Art Historical Treasures2$6,379Selling price
Clothing and Household Goods-$2,015Cost
Historical Artifacts1$1,000Selling price
Works of Art1$250Selling price
Drugs and Medical Supplies1$67Cost
Other Non Cash Contri Table1$30Cost
Total Noncash Contributions11$160,370-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$20,461,663
Grants and Similar Amounts Paid$17,950,124
Other Expenses$17,521,671
Total Fundraising Expense$996,321
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$17,950,124--$17,950,124
Other Salaries and Wages$12,541,654$1,862,474$449,316$14,853,444
Other Employee Benefits$2,655,538$917,832$92,727$3,666,097
All Other Expenses$2,684,850$880,794$23,036$3,588,680
Depreciation Depletion$1,869,855$812,005$10,939$2,692,799
Interest$1,809,546$523,420$63,959$2,396,925
Occupancy$1,820,198$361,878$7,988$2,190,064
Information Technology$277,087$767,377$75,176$1,119,640
Payroll Taxes$843,224$173,277$39,986$1,056,487
Current Officers, Directors, Trustees, and Key Employees-$736,935$108,185$845,120
Office Expenses$297,885$227,558$17,088$542,531
Fees for Services Other$262,083$165,661$43,923$471,667
Advertising$67,182$292,464$49,386$409,032
Other Expenses$171,141$116,295$4,773$292,209
Insurance$138,063$141,969-$280,032
Travel$194,288$1,529$208$196,025
Fees for Services Accounting-$92,830-$92,830
Conferences and Meetings$61,545$14,013$1,943$77,501
Fees for Service Investment Mgmnt Fees-$41,191-$41,191
Fees for Services Legal-$30,849-$30,849
Comp Disqual Persons-$22,664-$22,664
Pension Plan Contributions$10,472$6,271$1,108$17,851
Fees for Services Lobbying-$436-$436
Total Functional Expenses$46,544,425$8,392,712$996,321$55,933,458
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Alexander MorrisFamily member of Marie Morris, OfficerCompensation and benefitsNo$22,664
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability for Amounts Held for Others$2,054,377
Liability for Federal Student Loans$1,490,000
Annuities Payable$558,545
Life estate liability$218,506

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Anderson Indiana2017-09-28$39,171,350Refinance 2007 & 2015 bonds
ACity of Anderson Indiana2014-12-16$5,189,160Purchase of residence hall

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$39,265,831$35,137,223-$783,427
A$5,189,160$406,000$1,105,000$103,100

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
No
Business relationship with family members
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 1

The Executive Committee is composed of seven trustees including the Chair and Vice Chair. The other five members are elected annually by the Board of Trustees. Other members may meet with this Committee, they do not have voting power. It is the duty of the Executive Committee to act on behalf of the Board of Trustees during the period between the Board's meetings.

Form 990, Part VI, Section B, line 11B

The University's Form 990 is prepared by an independent CPA firm. Prior to the 990 being filed with the IRS, the 990 is reviewed in detail by the University's Assistant Treasurer and Controller, Vice President for Finance and Treasurer, President and the Audit Committee. The University's Board of Trustees delegates the review of the Form 990 to the Audit Committee, a subcommittee of the University's Board of Trustees. Before filing the 990, the Board of Trustees receive a copy to review.

Form 990, Part VI, Section B, line 12C

The Controller annually monitors all existing conflicts and enforces compliance with the University's conflict of interest policy by conducting a review prior to the University's annual audit. The University's conflict of interest policy states that all employees and Board of Trustees submit a conflict of interest form each year of employment. Determination of existing conflicts is the responsibility of the Controller who will also review with the Vice President for Finance and Treasurer. Persons with conflicts do not participate in decisions and deliberations of the governing body.

Form 990, Part VI, Section B, line 15

The independent Executive Committee of the Board of Trustees establishes the salary of the President upon recommendation of the subcommittee on evaluation and compensation. This process is directed through the Office of Work Life Engagement where compensation is compared to area benchmark information. Work Life then presents a recommendation to the VP for Finance and Treasurer to present to the Board of Trustees for approval annually. This process is documented in the board minutes. Form 990, Part VI, Section B, Line 15b: The salaries of other Executive officers of the University are established independently of the President, subject to the approval of the subcommittee on evaluation and compensation. This process is directed through Human Resources where compensation is compared to area benchmark information. The University's strategic plan is to reach compensation rates at 80% for staff and 77% for faculty of benchmark. HR then presents a recommendation to the President for approval annually. The President may appoint and establish the salaries of administrative officers as he/she deems appropriate. This process is documented in the HR files.

Form 990, Part VI, Section C, line 19

The University's governing documents and conflict of interest policy are available on the University's public website. The University's financial statements are not made available to the public but the financial statements are available at emma.msrb.org for bondholders.

Filing and Contact Details

Filer

Filer Name
Anderson University Inc
EIN
35-0867954
Phone
7656414001
Address
1100 East 5th Street, Anderson, IN 46012
Doing Business As
Anderson University

Signing Officer

Name
Suahil Housholder
Title
Asst Treasurer & Controller
Phone
7656414001
Signed
2022-04-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Pistole
Formed
1917
Legal Domicile
In
Voting Board Members
31
Independent Board Members
30
Employees
1,188
Volunteers
40

Preparer

Firm
Capin Crouse LLP
Address
345 Massachusetts Avenue Suite 300, Indianapolis, IN 46204
Preparer
Ted R Batson Jr
Phone
5055022746
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Actuarial change in annuities and trusts 715,448. Impairment loss -809,594.

Financial Statement Notes

Part III, Line 4:

The University's collection is made up of donations of art, books, and historical treasures. The University maintains the collection throughout the University's premises and is available for public display and access. The collection furthers the University's exempt education purpose by enhancing the University community's awareness of art, literature, and history.

Part V, Line 4:

The University's endowment funds are intended to fund designated University tax exempt activities, such as, the distribution of scholarships and grants to students, as well as funding operational and capital needs of the University. Form 990, Schedule D, Part V, Lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 5/31/2021. To date, Schedule D and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions

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IRS990/Desc0Higher education: General educational activities serving 1,406 students during the 2020-21 school year. AU students benefit from a low student-to-faculty ratio of 9 to 1, as well as the expertise of 105 full-time faculty members, 71.4 percent of whom hold terminal degrees. Anderson University continues to be recognized as one of America's top colleges by US News & World Report, The Princeton Review, and Colleges of Distinction. Three of the university's programs received "badges of distinction": Business, Education, and Nursing. The University has long had a strong undergraduate liberal arts curriculum. The University offers a unique 10-month MBA graduate program with a significant co-op experience and a residential option. The University's MBA, Master's in Christian Ministry, and Master of Divinity programs are also offered through online/hybrid classes with the MBA offered face-to-face in several locations around Indianapolis.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chair
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IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21Trustee

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$131$49.3$81.4$75.6$69.3$6.30
2023Detailed filing. Detailed filing data is available for this year.$124$51.1$72.5$62.9$64.0$1.06
2022Detailed filing. Detailed filing data is available for this year.$135$59.3$76.0$63.2$61.8$1.46
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$141$61.4$79.6$56.6$55.9$0.68
2020Detailed filing. Detailed filing data is available for this year.$132$62.6$69.7$63.2$60.4$2.84
2019Detailed filing. Detailed filing data is available for this year.$130$63.5$66.1$60.5$62.7$2.21
2018Detailed filing. Detailed filing data is available for this year.$135$64.0$70.6$66.6$63.7$2.86
2017Detailed filing. Detailed filing data is available for this year.$133$62.2$71.2$65.8$65.9$0.10
2016Detailed filing. Detailed filing data is available for this year.$140$66.9$73.2$66.5$68.4$1.91
2015Detailed filing. Detailed filing data is available for this year.$148$70.6$77.3$72.9$67.6$5.33
2014Detailed filing. Detailed filing data is available for this year.$144$68.0$76.3$70.4$67.7$2.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$144$69.3$74.6$70.5
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$143$71.5$72.0$69.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$146$72.0$74.0$70.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$145$72.2$72.7$68.1