Civic Intelligence

Morrison Institute of Technology

990 • Fiscal year 2016 • EIN 36-2919340

Jun 01, 2015 to May 31, 2016 • Filed on Oct 12, 2016

701 Portland AvenueMorrison, IL 61270

(815) 772-7218

Siviq Scores

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

Liabilities / Assets

65th percentile

0.24x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

69th percentile

0.30x

Higher debt load relative to revenue than 69% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

55th percentile

3.8%

Higher net margin than 55% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

43rd percentile

-0.4%

Faster asset growth than 43% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

54th percentile

4.1%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$2,393,436

Down $8,619 (-0.4%) from 2015

Net Assets

Up

$1,816,010

Up $72,618 (+4.2%) from 2015

Liabilities

Down

$577,426

Down $81,237 (-12%) from 2015

Revenue

Up

$1,906,498

Up $74,559 (+4.1%) from 2015

Expenses

Up

$1,833,880

Up $51,989 (+2.9%) from 2015

Net Income

Up

$72,618

Up $22,570 (+45%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,448,946Liabilities 2011: $1,089,454Net Assets 2011: $1,359,4922011Assets 2012: $2,408,906Liabilities 2012: $1,001,752Net Assets 2012: $1,407,1542012Assets 2013: $2,364,107Liabilities 2013: $875,090Net Assets 2013: $1,489,0172013Assets 2014: $2,477,510Liabilities 2014: $784,166Net Assets 2014: $1,693,3442014Assets 2015: $2,402,055Liabilities 2015: $658,663Net Assets 2015: $1,743,3922015Assets 2016: $2,393,436Liabilities 2016: $577,426Net Assets 2016: $1,816,0102016Assets 2017: $2,357,418Liabilities 2017: $460,227Net Assets 2017: $1,897,1912017Assets 2018: $2,532,245Liabilities 2018: $522,813Net Assets 2018: $2,009,4322018Assets 2019: $3,025,888Liabilities 2019: $958,020Net Assets 2019: $2,067,8682019Assets 2020: $3,235,483Liabilities 2020: $1,413,048Net Assets 2020: $1,822,4352020Assets 2021: $3,503,543Liabilities 2021: $1,098,643Net Assets 2021: $2,404,9002021Assets 2022: $3,310,964Liabilities 2022: $1,083,234Net Assets 2022: $2,227,7302022Assets 2023: $3,238,330Liabilities 2023: $1,046,017Net Assets 2023: $2,192,3132023Assets 2024: $3,086,686Liabilities 2024: $1,033,771Net Assets 2024: $2,052,9152024Assets 2025: $3,898,887Liabilities 2025: $1,142,478Net Assets 2025: $2,756,4092025

Highlighted filing

2016

Assets$2,393,436
Liabilities$577,426
Net Assets$1,816,010

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,953,5672011Expenses 2012: $1,824,1472012Expenses 2013: $1,700,3592013Revenue 2014: $2,039,910Expenses 2014: $1,835,583Net Income 2014: $204,3272014Revenue 2015: $1,831,939Expenses 2015: $1,781,891Net Income 2015: $50,0482015Revenue 2016: $1,906,498Expenses 2016: $1,833,880Net Income 2016: $72,6182016Revenue 2017: $2,019,709Expenses 2017: $1,938,528Net Income 2017: $81,1812017Revenue 2018: $2,240,798Expenses 2018: $2,128,557Net Income 2018: $112,2412018Revenue 2019: $2,521,602Expenses 2019: $2,463,166Net Income 2019: $58,4362019Revenue 2020: $2,055,187Expenses 2020: $2,300,620Net Income 2020: -$245,4332020Revenue 2021: $2,698,370Expenses 2021: $2,115,905Net Income 2021: $582,4652021Revenue 2022: $2,173,933Expenses 2022: $2,351,103Net Income 2022: -$177,1702022Revenue 2023: $1,730,418Expenses 2023: $1,750,291Net Income 2023: -$19,8732023Revenue 2024: $1,815,937Expenses 2024: $1,955,335Net Income 2024: -$139,3982024Revenue 2025: $2,751,580Expenses 2025: $2,048,086Net Income 2025: $703,4942025

Highlighted filing

2016

Revenue$1,906,498
Expenses$1,833,880
Net Income$72,618
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Oct 12, 2016
Return Version
2015v2.1
Gross Receipts
$1,956,714
Mission and Program Overview

Mission

To provide an education and related services to all enrolled students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,042,392$1,981,237▼ $61,155
Cash and Non-Interest-Bearing Accounts$281,310$268,503▼ $12,807
Accounts Receivable$55,185$124,185▲ $69,000
Inventories for Sale or Use$14,177$10,411▼ $3,766
Prepaid Expenses and Deferred Charges$8,991$9,100▲ $109
Total Assets$2,402,055$2,393,436▼ $8,619
Liabilities
Mortgage Notes Payable Secured by Investment Property$628,805$536,048▼ $92,757
Accounts Payable and Accrued Expenses$17,798$34,668▲ $16,870
Deferred Revenue$6,050$3,600▼ $2,450
Other Liabilities$6,010$3,110▼ $2,900
Total Liabilities$658,663$577,426▼ $81,237
Net Assets / Fund Balance
Unrestricted Net Assets$1,743,392$1,816,010▲ $72,618
Total Net Assets Fund Balance$1,743,392$1,816,010▲ $72,618
Total Liabilities and Net Assets / Fund Balance$2,402,055$2,393,436▼ $8,619

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,434,670$2,530,977$3,965,647
Equipment$141,397$1,157,344$1,298,741
Leasehold Improvements$76,021$241,829$317,850
Other Land Buildings$157,693$39,000$196,693
Land$171,456-$171,456
Compensation and Service Providers

Board Members and Trustees

NameTitle
Leroy WrightChairman
Craig GrayDirector
Dave WeberDirector
Mike GundersonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$225,288
Program Service Revenue
$1,642,337
Investment Income
$-535
Other Revenue
$39,408
Change in Net Assets
$72,618

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,701,965
Revenue Not Reported on Financial Statements
$204,533
Other Revenue Adjustments
$204,533
Total Revenue per Audited Statements
$1,701,965
Total Revenue per Form 990
$1,906,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$907,854
Other Expenses$671,871
Grants and Similar Amounts Paid$254,155
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$678,729$167,399-$846,128
Grants to Domestic Individuals$254,155--$254,155
Depreciation Depletion$141,128$11,592-$152,720
Insurance$90,317$32,240-$122,557
All Other Expenses$86,947$25,306-$112,253
Occupancy$87,190--$87,190
Payroll Taxes$49,193$12,533-$61,726
Interest$28,655--$28,655
Other Expenses$8,518$21,803-$21,803
Travel$4,470$2,051-$6,521
Total Functional Expenses$1,429,302$404,578$0$1,833,880

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,833,880
Expenses per Audited Statements$1,629,347
Total Expenses per Audited Statements$1,629,347
Expenses Not Reported on Financial Statements$204,533
Other Expense Adjustments$204,533
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Student and Other Deposit Collected$3,110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Reviewed by the institute's board of directors prior to filing the form 990.

Form 990, Page 6, Part VI, Line 15A

The board of directors hold an executive session to review and approve compensation.

Form 990, Page 6, Part VI, Line 19

Morrison institute of technology makes our governing documents and financial statements available to the public on request.

Filing and Contact Details

Filer

Filer Name
Morrison Institute of Technology
EIN
36-2919340
Phone
8157727218
Address
701 PORTLAND AVENUE, MORRISON, IL 61270

Signing Officer

Name
Richard Parkinson
Title
VP of Finance
Phone
8157727218
Signed
2016-10-12

Organization Details

Principal Officer
Richard Parkinson
Formed
1977
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
4
Employees
21

Preparer

Firm
Winkel Parker & Foster CPA Pc
Address
1301 19TH AVE NW, CLINTON, IA 52732-2434
Preparer
Patrick W Parker CPA
Phone
5632423440
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Scholarships -254,155 cost of goods sold 49,622 scholarships 254,155 cost of goods sold -49,622

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Scholarships 254,155 cost of goods sold -49,622

Schedule D, Page 4, Part XII, Line 4B

Scholarships 254,155 cost of goods sold -49,622

Raw XML Appendix382 raw XML fields

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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0STUDENT AND OTHER DEPOSIT COLLECTED
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0204533
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0204533
IRS990ScheduleD/RevenueSubtotalAmt01701965
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS 254,155 COST OF GOODS SOLD -49,622
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SCHOLARSHIPS 254,155 COST OF GOODS SOLD -49,622
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01981237
IRS990ScheduleD/TotalExpensesPerForm990Amt01833880
IRS990ScheduleD/TotalLiabilityAmt03110
IRS990ScheduleD/TotalRevenuePerForm990Amt01906498
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01701965
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01629347
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE COLLEGE CATALOG STATES THAT ANYONE REGARDLESS OF RACE, COLOR, OR CREED CAN BE ADMITTED AND PARTICIPATE IN ANY COLLEGE PROGRAMS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTE RECEIVED FEDERAL FUNDS UNDER STUDENT FINANCIAL ASSISTANCE PROGRAMS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0254155
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY THE INSTITUTE'S BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS HOLD AN EXECUTIVE SESSION TO REVIEW AND APPROVE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MORRISON INSTITUTE OF TECHNOLOGY MAKES OUR GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SCHOLARSHIPS -254,155 COST OF GOODS SOLD 49,622 SCHOLARSHIPS 254,155 COST OF GOODS SOLD -49,622
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02402055
IRS990/TotalAssetsEOYAmt02393436
IRS990/TotalAssetsGrp/BOYAmt02402055
IRS990/TotalAssetsGrp/EOYAmt02393436
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0225288
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0404578
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01429302
IRS990/TotalFunctionalExpensesGrp/TotalAmt01833880
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0658663
IRS990/TotalLiabilitiesEOYAmt0577426
IRS990/TotalLiabilitiesGrp/BOYAmt0658663
IRS990/TotalLiabilitiesGrp/EOYAmt0577426
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01743392
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01816010
IRS990/TotalProgramServiceExpensesAmt01429302
IRS990/TotalProgramServiceRevenueAmt01642337
IRS990/TotalRevenueGrp/ExclusionAmt028579
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01652631
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01906498
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02402055
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02393436
IRS990/TravelGrp/ManagementAndGeneralAmt02051
IRS990/TravelGrp/ProgramServicesAmt04470
IRS990/TravelGrp/TotalAmt06521
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01743392
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01816010
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0701 PORTLAND AVENUE
IRS990/USAddress/CityNm0MORRISON
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061270
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.MORRISON.TEC.IL.US/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD PARKINSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP OF FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum08157727218
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORRISON INSTITUTE OF TECHNOLOGY
ReturnHeader/Filer/BusinessNameControlTxt0MORR
ReturnHeader/Filer/EIN0362919340
ReturnHeader/Filer/PhoneNum08157727218
ReturnHeader/Filer/USAddress/AddressLine1Txt0701 PORTLAND AVENUE
ReturnHeader/Filer/USAddress/CityNm0MORRISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061270
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270402452
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WINKEL PARKER & FOSTER CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01301 19TH AVE NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CLINTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0527322434
ReturnHeader/PreparerPersonGrp/PhoneNum05632423440
ReturnHeader/PreparerPersonGrp/PreparationDt02016-10-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK W PARKER CPA
ReturnHeader/ReturnTs02016-10-14T10:00:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-06-01
ReturnHeader/TaxPeriodEndDt02016-05-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.90$1.14$2.76$2.75$2.05$0.70
2024Detailed filing. Detailed filing data is available for this year.$3.09$1.03$2.05$1.82$1.96$0.14
2023Detailed filing. Detailed filing data is available for this year.$3.24$1.05$2.19$1.73$1.75$0.02
2022Detailed filing. Detailed filing data is available for this year.$3.31$1.08$2.23$2.17$2.35$0.18
2021Detailed filing. Detailed filing data is available for this year.$3.50$1.10$2.40$2.70$2.12$0.58
2020Detailed filing. Detailed filing data is available for this year.$3.24$1.41$1.82$2.06$2.30$0.25
2019Detailed filing. Detailed filing data is available for this year.$3.03$0.96$2.07$2.52$2.46$0.06
2018Detailed filing. Detailed filing data is available for this year.$2.53$0.52$2.01$2.24$2.13$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.36$0.46$1.90$2.02$1.94$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.39$0.58$1.82$1.91$1.83$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.40$0.66$1.74$1.83$1.78$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.48$0.78$1.69$2.04$1.84$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.88$1.49$1.70
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.41$1.00$1.41$1.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.45$1.09$1.36$1.95