Civic Intelligence

Midwestern University

990 • Fiscal year 2020 • EIN 36-3377698

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

Organization ProfileWWW. MIDWESTERN.EDU

View Organization Page

555 31st StreetDowners Grove, IL 60515

(630) 515-7145

Siviq Scores

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

Liabilities / Assets

27th percentile

0.20x

Higher debt load relative to assets than 27% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Liabilities / Revenue

41st percentile

0.66x

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

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Net Margin

84th percentile

25%

Higher net margin than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Top Officer Pay

48th percentile

$1,749,944

Higher top officer pay than 48% of similar nonprofits.

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

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Asset Growth

17th percentile

1.0%

Faster asset growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2019 to 2020

Revenue Growth

36th percentile

-0.4%

Faster revenue growth than 36% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$1,563,955,425

Up $14,984,998 (+1.0%) from 2019

Net Assets

Up

$1,246,451,366

Up $120,037,332 (+11%) from 2019

Liabilities

Down

$317,504,059

Down $105,052,334 (-25%) from 2019

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin84th percentile

Revenue

Down

$479,773,396

Down $1,878,693 (-0.4%) from 2019

Expenses

Down

$358,608,193

Down $5,909,584 (-1.6%) from 2019

Net Income

Up

$121,165,203

Up $4,030,891 (+3.4%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$3.0B$2.0B$1.0B$0Assets 2010: $650,240,817Liabilities 2010: $347,921,751Net Assets 2010: $302,319,0662010Assets 2011: $744,604,492Liabilities 2011: $369,511,510Net Assets 2011: $375,092,9822011Assets 2013: $947,050,869Liabilities 2013: $418,434,572Net Assets 2013: $528,616,2972013Assets 2014: $1,090,309,024Liabilities 2014: $468,008,310Net Assets 2014: $622,300,7142014Assets 2015: $1,159,741,570Liabilities 2015: $450,189,768Net Assets 2015: $709,551,8022015Assets 2016: $1,225,417,084Liabilities 2016: $445,228,520Net Assets 2016: $780,188,5642016Assets 2018: $1,422,394,557Liabilities 2018: $402,476,063Net Assets 2018: $1,019,918,4942018Assets 2019: $1,548,970,427Liabilities 2019: $422,556,393Net Assets 2019: $1,126,414,0342019Assets 2020: $1,563,955,425Liabilities 2020: $317,504,059Net Assets 2020: $1,246,451,3662020Assets 2022: $1,816,520,106Liabilities 2022: $291,024,419Net Assets 2022: $1,525,495,6872022Assets 2024: $2,090,861,127Liabilities 2024: $279,140,973Net Assets 2024: $1,811,720,1542024

Highlighted filing

2020

Assets$1,563,955,425
Liabilities$317,504,059
Net Assets$1,246,451,366
Open 2020 Filing

Operations Trend

Revenue Growth36th percentile

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

$600M$400M$200M$0Expenses 2010: $145,103,6042010Expenses 2011: $169,362,0182011Expenses 2013: $212,651,9862013Revenue 2014: $333,385,769Expenses 2014: $241,632,693Net Income 2014: $91,753,0762014Revenue 2015: $366,362,551Expenses 2015: $273,604,337Net Income 2015: $92,758,2142015Revenue 2016: $379,832,387Expenses 2016: $298,985,393Net Income 2016: $80,846,9942016Revenue 2018: $464,714,826Expenses 2018: $344,242,055Net Income 2018: $120,472,7712018Revenue 2019: $481,652,089Expenses 2019: $364,517,777Net Income 2019: $117,134,3122019Revenue 2020: $479,773,396Expenses 2020: $358,608,193Net Income 2020: $121,165,2032020Revenue 2022: $519,542,731Expenses 2022: $379,788,171Net Income 2022: $139,754,5602022Revenue 2024: $537,500,528Expenses 2024: $422,759,778Net Income 2024: $114,740,7502024

Highlighted filing

2020

Revenue$479,773,396
Expenses$358,608,193
Net Income$121,165,203
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.0
Gross Receipts
$1,408,960,785
Mission and Program Overview

Mission

Midwestern university's historical and sustaining philosophy dedicates the institution and its resources to the highest standards of academic excellence to meet the educational needs of the health care community.

Midwestern university dedicates the institution and its resources to the highest standards of academic excellence to meet the educational needs of the health care community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$734,666,884$753,537,500▲ $18,870,616
Investments in Publicly Traded Securities$239,705,749$652,494,829▲ $412,789,080
Cash and Non-Interest-Bearing Accounts$484,363,309$56,610,981▼ $427,752,328
Investments Other Securities$26,638,817$36,023,136▲ $9,384,319
Investments Program Related$35,296,445$33,921,928▼ $1,374,517
Accounts Receivable$7,306,375$6,616,798▼ $689,577
Prepaid Expenses and Deferred Charges$4,303,679$5,227,631▲ $923,952
Inventories for Sale or Use$1,873,559$2,123,954▲ $250,395
Pledges and Grants Receivable$315,070$535,239▲ $220,169
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,548,970,427$1,563,955,425▲ $14,984,998
Other Assets Total$14,500,540$16,863,429▲ $2,362,889
Liabilities
Tax Exempt Bond Liabilities$248,109,749$166,664,066▼ $81,445,683
Deferred Revenue$54,282,643$56,522,687▲ $2,240,044
Accounts Payable and Accrued Expenses$55,367,871$50,201,445▼ $5,166,426
Other Liabilities$60,580,145$43,144,607▼ $17,435,538
Grants Payable$4,215,985$971,254▼ $3,244,731
Total Liabilities$422,556,393$317,504,059▼ $105,052,334
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,109,530,634$1,228,115,764▲ $118,585,130
Net Assets With Donor Restrictions$16,883,400$18,335,602▲ $1,452,202
Total Net Assets Fund Balance$1,126,414,034$1,246,451,366▲ $120,037,332
Total Liabilities and Net Assets / Fund Balance$1,548,970,427$1,563,955,425▲ $14,984,998

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$662,890,959$269,171,788$932,062,747
Equipment$41,042,843$112,336,620$153,379,463
Other Land Buildings$26,843,337-$26,843,337
Land$22,760,361-$22,760,361

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$16,883,400$1,452,202▲ $2,082,715$592,469$18,335,602
2018$15,890,604$1,693,165▲ $499,403$-1,008,728$16,883,400
2017$14,182,221$2,349,733▲ $473,646$543,466$15,890,604
2016$12,924,556$1,569,582▲ $394,580$181,017$14,182,221
2015$11,110,846$2,597,127▲ $339,063$356,213$12,924,556
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-President/CEO/trusteeFT$766,689$983,255$1,749,944
-Assistant Treasurer/CFO/senior VPFT$544,446$478,218$1,022,664
-VP / Assistant to the PresidentFT$418,611$276,127$694,738
-VP CAO Medicine and Dental - RetiredFT$410,717$278,327$689,044
-VP of Research and Strategic StudiesFT$391,748$288,759$680,507
-VP CAO Health SciencesFT$409,746$268,222$677,968
-VP & General CounselFT$428,986$165,233$594,219
-VP FinanceFT$349,875$242,466$592,341
-Dean Dental MedicineFT$377,674$175,341$553,015
-Dean of MedicineFT$362,386$190,179$552,565
-VP Human Resources and AdminFT$326,847$223,557$550,404
-VP University RelationsFT$353,188$195,195$548,383
-VP & CAO, Dental and Graduate Studies EducationFT$350,423$196,829$547,252
-Dean Colleges of PharmacyFT$320,079$198,498$518,577
-VP/CAO Optometry, Pharmacy and Veterinary EducationFT$322,491$179,178$501,669
-Dean College of Veterinary MedicineFT$334,494$165,758$500,252

Board Members and Trustees

NameTitle
-Chairperson/trustee
-Vice Chairperson/trustee
-Secretary/treasurer/trustee
-Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Chanen ConstructionGeneral Contractor3300 N THIRD ST, Phoenix, AZ 85067$42,055,334
Metro Cleaning CompanyJanitorial Services8349 W DESERT SPOON, Peoria, AZ 85383$3,325,181
DWL Architects Planners IncArchitectural2333 N Central Ave, Phoenix, AZ 85004$2,887,798
EbscoE-Library Services10 Estes Street, Ipswich, MA 01938$2,193,885
Building Services of AmericaJanitorial Services10216 Werch Drive, Woodridge, IL 60517$1,352,450
Revenue and Support

Revenue Composition

Contributions and Grants
$6,100,212
Program Service Revenue
$461,574,853
Investment Income
$9,331,169
Other Revenue
$2,767,162
All Other Contributions
$3,422,188
Change in Net Assets
$121,165,203

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
Drugs and Medical Supplies14,120$40,759Selling cost
Other Non Cash Contri Table1$35,000Market value
Other Non Cash Contri Table1$25,000Market value
Other Non Cash Contri Table130$22,191Selling cost
Other Non Cash Contri Table1$5,000Opinions of experts
Other Non Cash Contri Table1$1,000Opinions of experts
Other Non Cash Contri Table1$1,000Opinions of experts
Books and Publications-$272Replacement cost
Total Noncash Contributions14,255$130,222-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$233,796,404
Other Expenses$121,605,024
Grants and Similar Amounts Paid$3,206,765
Total Fundraising Expense$786,007
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$169,567,299$7,549,237$325,982$177,442,518
Depreciation Depletion$38,184,773$857,782-$39,042,555
Other Employee Benefits$22,625,746$1,224,107$35,616$23,885,469
Office Expenses$10,312,300$8,920,588$41,482$19,274,370
Pension Plan Contributions$13,867,469$801,850$23,330$14,692,649
Fees for Services Other$11,052,031$1,295,208$83,667$12,430,906
Payroll Taxes$9,812,442$711,132$20,691$10,544,265
All Other Expenses$8,382,918$953,954$192,486$9,529,358
Current Officers, Directors, Trustees, and Key Employees$3,576,798$3,619,891-$7,196,689
Interest$6,881,058$254,747-$7,135,805
Occupancy$6,195,286$159,077-$6,354,363
Insurance$2,074,787$1,705,364$1,743$3,781,894
Grants to Domestic Individuals$3,197,852--$3,197,852
Other Expenses$2,396,596$780-$2,397,376
Information Technology$1,719,816$58,168$0$1,777,984
Travel$1,129,182$172,996$4,584$1,306,762
Conferences and Meetings$1,209,492$17,834$1,435$1,228,761
Fees for Service Investment Mgmnt Fees$40,016$766,290-$806,306
Fees for Services Legal$427,111$280,244-$707,355
Advertising$516,085$101,969$54,991$673,045
Fees for Services Accounting$64,268$481,500-$545,768
Fees for Services Lobbying-$273,710-$273,710
Comp Disqual Persons-$34,814-$34,814
Grants to Domestic Orgs$8,913--$8,913
Total Functional Expenses$327,577,540$30,244,646$786,007$358,608,193
International Activity

International Summary

Offices
0
Employees
0
Spending
$22,309,000

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsN/a00$22,238,000
East Asia and the PacificProgram ServicesDental Medicine Mission Trip00$71,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$124,684
Fundraising Gross Income$55,669
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bright Lights$164,139$55,669$53,826$1,843
Event 2-$0-$0
Total Events$164,139$55,669$124,684$-69,015
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Schedule L, Part VGeneral ContractingNo$43,651,789
-Family Member of Dennis Paulson, Phd, Vp Cao Medicine and DentalEmployee in Facilities on the Illinois CampusNo$34,814

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
Refundable Federal Student Loan$20,848,897
Self-insurance Liabilities$9,809,907
Retiree Benefits$5,748,808
Other Current Liabilities$5,319,870
Interest Rate Protection Agreement$1,030,454
Deferred Compensation$236,671
Profess Liab Tail Cover$150,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
BGlendale Az Ida Series 2013 Bonds2013-11-13$106,430,000SEE SCHEDULE K, PART VI
AGlendale Az Ida Series 2007 Bonds2007-04-18$67,184,077SEE SCHEDULE K, PART VI
CGlendale Az Ida Series 2020 Bonds2020-03-25$54,577,881SEE SCHEDULE K PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$106,430,000$76,430,000$39,465,000$0
A$68,405,583$62,397,969$19,980,000$0
C$54,577,881$0$1,150,000$0

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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 13 WHISTLEBLOWER POLICY

“The university has a board of trustee approved written whistleblower policy in place and has implemented policies and procedures encouraging employees to come forward (whether through an open door policy or a confidential phone line in the president and ceo offices) with information on various improper activities, specifies that the individuals will be protected from retaliation, identifies staff and management personnel to whom such information can be reported, and assures that such information will be reviewed and acted upon by management as appropriate.”

Form 990, Part VI, Line 14 DOCUMENT RETENTION AND DESTRUCTION POLICY

“Midwestern university has a board of trustee approved written document retention and destruction policy.”

Form 990, Part VI, Line 1A Delegate broad authority to A committee

“The Executive Committee consists of the Chairperson of the Board of Trustees, the Vice Chairperson of the Board of Trustees, the Secretary, the Treasurer, and the President and CEO of the University. The duty of the Executive Committee is to transact the business of the Board of Trustees between meetings of the Board, but the designation of such committee and the delegation thereto of authority shall not operate to relieve the Board of Trustees, or any individual Trustee, of any responsibility imposed by law. All actions of the Executive Committee shall be deemed to be the actions of the Board of Trustees and shall be reported to the Board of Trustees at its next meeting. The Executive Committee shall be vested with and may in its discretion exercise the full powers, duties, responsibilities, and authority of the Board of Trustees except where prohibited by law.”

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

“The 990 is prepared by management of the university along with the advice of the university's auditors, attorneys and tax advisors. The 990 is then reviewed by the ceo and cfo prior to presenting to the board of trustees. The 990 is presented to the board of trustees for their review at the february board of trustees meeting prior to filing.”

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

“Midwestern university has a written conflict of interest policy approved by the board of trustees. For the university and all of its related organizations, all officers, trustees, employees and all faculty and staff are annually required to complete a conflict of interest questionnaire and disclose all conflicts of interest. Questionnaires are returned to the president of the university, for review and annual approval. A committee of the board of trustees meets as necessary to review and resolve any potential conflicts of interests reported on the questionnaires involving a trustee, officer, or certain employees. The president, as designee of the board committee, reviews and resolves matters involving other individuals who receive the questionnaires. Procedures for addressing actual or possible conflicts are set forth in the board approved conflicts of interest policy statement. Records of any proceedings are kept, and annual reports of the activities, reviews and resolutions regarding conflicts of interest are made to the board of trustees and reviewed by external auditors.”

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

“Midwestern university's governing documents and conflict of interest policy are not made available to the general public. The 990 is available on guidestar.com and also at each of the university's two campuses. The financial statements and pertinent operating statistics are available at www.dacbond.com”

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

“Bookstore - Total Revenue: 16195, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 16195; Fitness Program - Total Revenue: 5905, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 5905; Vending Machine Revenue - Total Revenue: 3354, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 3354; Washing Machine Revenue - Total Revenue: 11599, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 11599; Campus Rental - Total Revenue: 31075, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 31075; Miscellaneous Revenue - Total Revenue: 496984, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 496984; Credit Card Fee Revenue Share - Total Revenue: 165876, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 165876; Misc Student Fees - Total Revenue: 101026, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 101026; Continuing Medical Education Revenue - Total Revenue: 111921, Related or Exempt Function Revenue: 111921, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Student Activities - Total Revenue: 2880, Related or Exempt Function Revenue: 2880, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Alumni Events - Total Revenue: 5700, Related or Exempt Function Revenue: 5700, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Alumni Association Dues - Total Revenue: 3588, Related or Exempt Function Revenue: 3588, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Library Services - Total Revenue: 30665, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 30665; Penalty Charges - Total Revenue: 6489, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 6489; Late Charges - Total Revenue: 11259, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 11259; Parking Fines - Total Revenue: 4780, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 4780; Returned Check Fee - Total Revenue: -255, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: -255; Convenience Charge Revenue - Total Revenue: 3637, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 3637; Copy Center Charges Revenue - Total Revenue: 1161, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 1161; Late Fee - Health Insurance - Total Revenue: 6265, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 6265; MWU Student Sick Visit Revenue - Total Revenue: 152442, Related or Exempt Function Revenue: 152442, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

Part VI, LIne 15 A and B OFFICERS & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN

“Midwestern university adopted a comprehensive executive compensation review system in 1995 and has followed the policy throughout the years. The policies and practices have ensured a consistent methodology for all academic deans and officers of the university and the executive compensation committee of the board of trustees (the "compensation committee"). The compensation committee is composed of trustees without a conflict of interest with respect to compensation arrangements which it approves. The compensation committee chair engages an outside compensation consultant to benchmark the salaries and benefits of the administrative personnel of midwestern university. Merit increases are awarded based on comprehensive written performance appraisals, external market and comparability data and internal equity. The compensation committee reviews all performance appraisal forms, including a comprehensive review of the performance of the president, chief executive officer that is distributed to every member of the board of trustees, and collected and evaluated by the chairman of the board. The compensation committee meets at least twice a year. One meeting is held exclusively to review the pertinent data and president's performance and may include the external consultant during the meeting. The president is not included in this meeting. Minutes of all compensation committee meetings are written and maintained in the office of the president ceo. Beginning in fiscal 2018 and every consecutive year, korn ferry hay has been engaged to complete a comprehensive review of both total compensation and executive benefits of all senior administrators of midwestern university. Their complete and comprehensive study was presented to the executive compensation committee of the board of trustees. The compensation committee of the board of trustees approves their analysis and recommendations. This is an annual process that has been in place for the past 25 years.”

Filing and Contact Details

Filer

Filer Name
Midwestern University
EIN
36-3377698
Phone
6305157145
Address
555 31ST STREET, DOWNERS GROVE, IL 60515

Signing Officer

Name
Kathleen H Goeppinger Phd
Title
President & CEO
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1900
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
14
Employees
4,062
Volunteers
3,087

Preparer

Firm
Crowe Llp
Address
225 West Wacker Drive Suite 2600, Chicago, IL 60606-1224
Preparer
Jennifer Burke
Phone
3128997000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 6 NUMBER OF VOLUNTEERS

“Number of volunteers consists primarily of adjunct/volunteer (uncompensated) faculty providing teaching services for the university's various healthcare educational services (3,072), as well as uncompensated members of the board of trustees (15).”

Form 990, Part IV, Line 9 PART IV, LINE 9 AND SCHEDULE D, PART IV

“Credit counseling, debt management services the university answered "yes" at form 990, part iv, line 9, only because it provides credit counseling, debt management services to its students in conjunction with its student loan/financial aid programs. Schedule d, part iv requests no information pertaining to these services.”

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

“Loss on bond refinancing - -1506453; Realized loss on termination of interest rate protection agreements - -8178000; Change in unrealized gain on interest rate protection agreements - 2006888; Net asset transfer (to) from affiliates - -2073656; Change in postretirement health care plan assets and benefit obligations - 5124174; Non Cash Contributions - -110653;”

Financial Statement Notes

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

“Restricted endowment funds are used based on donor intent. The university has not relied on endowment spending to support operations or student scholarships.”

Raw XML AppendixShowing 400 of 1,568 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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IRS990/AccountsReceivableGrp/EOYAmt06616798
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0MIDWESTERN UNIVERSITY DEDICATES THE INSTITUTION AND ITS RESOURCES TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE TO MEET THE EDUCATIONAL NEEDS OF THE HEALTH CARE COMMUNITY.
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IRS990/Desc0DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2020, MIDWESTERN UNIVERSITY PROVIDED HEALTH SCIENCES EDUCATION SERVICES TO APPROXIMATELY 6,820 PRE-DOCTORAL STUDENTS AND 69 POST-DOCTORAL STUDENTS. THESE STUDENT SERVICES ARE LOCATED ON THREE CAMPUSES, TWO IN ILLINOIS AND ONE IN ARIZONA. MIDWESTERN UNIVERSITY OFFERS HEALTH EDUCATION PROGRAMS IN MEDICINE, PHARMACY, PHYSICIAN ASSISTANCE, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, BIOMEDICAL SCIENCES, PODIATRY, CLINICAL PSYCHOLOGY, PERFUSION SERVICES, NURSE ANESTHETIST, DENTISTRY, OPTOMETRY, VETERINARY MEDICINE, SPEECH LANGUAGE PATHOLOGY, AND GRADUATE EDUCATION PROGRAMS IN MEDICINE, AS WELL AS CONTINUING EDUCATION FOR STAFF AND ALUMNI. MIDWESTERN UNIVERSITY CONTINUED ITS RESEARCH AND TRAINING PROGRAMS WITH THE SUPPORT OF FEDERAL AND PRIVATE FUNDING. MIDWESTERN UNIVERSITY CLINICS THE MIDWESTERN UNIVERSITY MULTISPECIALTY CLINICS OPERATED AT THE ARIZONA AND ILLINOIS CAMPUSES INCLUDE DENTAL INSTITUTES, EYE INSTITUTES, FAMILY MEDICINE PRACTICES, COMPANION ANIMAL CLINIC AT THE ANIMAL HEALTH INSTITUTE, SPEECH-LANGUAGE INSTITUTES, A PHYSICAL THERAPY INSTITUTE AND OTHER HEALTH SERVICES DESIGNED TO PROVIDE CLINICAL TEACHING SITES AND MEET A WIDE-RANGE OF HEALTHCARE NEEDS OF AREA PATIENTS. IN ACCORDANCE WITH THE UNIVERSITY'S ACADEMIC MISSION, THE FEE SCHEDULES AT THE TWO DENTAL INSTITUTES HAVE BEEN REDUCED TO APPROXIMATELY 50% OR MORE OF USUAL AND CUSTOMARY CHARGES. AS A RESULT, DURING FISCAL YEAR ENDED JUNE 30, 2020, MWU PATIENTS PAID $19,491,000 LESS IN PATIENT SERVICE FEES THAN THEY WOULD HAVE HAD MWU CHARGED USUAL AND CUSTOMARY FEES. ALSO, THE UNIVERSITY HAS A DISCOUNT PROGRAM WHEREBY LOW INCOME INDIVIDUALS CAN APPLY FOR FREE CARE AT MWU CLINICS BASED ON THE FEDERAL POVERTY GUIDELINES. THE TOTAL DISCOUNTS IN FISCAL YEAR ENDED JUNE 30, 2020 WERE $983,000 AT STATED PATIENT SERVICE CHARGES. HAD MWU CHARGED USUAL AND CUSTOMARY FEES, THE VALUE OF THE DISCOUNTS WOULD HAVE BEEN $1,854,000.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt290
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt310
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/CEO/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRPERSON/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHAIRPERSON/TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP HUMAN RESOURCES AND ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP & GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP CAO MEDICINE AND DENTAL - RETIRED
IRS990/Form990PartVIISectionAGrp/TitleTxt20ASSISTANT TREASURER/CFO/SENIOR VP
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP/CAO OPTOMETRY, PHARMACY AND VETERINARY EDUCATION
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP UNIVERSITY RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP CAO HEALTH SCIENCES
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP & CAO, Dental and Graduate Studies Education
IRS990/Form990PartVIISectionAGrp/TitleTxt25VP / ASSISTANT TO THE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26VP OF RESEARCH AND STRATEGIC STUDIES
IRS990/Form990PartVIISectionAGrp/TitleTxt27DEAN OF MEDICINE
IRS990/Form990PartVIISectionAGrp/TitleTxt28DEAN COLLEGES OF PHARMACY
IRS990/Form990PartVIISectionAGrp/TitleTxt29DEAN DENTAL MEDICINE
IRS990/Form990PartVIISectionAGrp/TitleTxt30DEAN OF MEDICINE
IRS990/Form990PartVIISectionAGrp/TitleTxt31DEAN COLLEGE OF VETERINARY MEDICINE

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,563,955,425
Liabilities
$317,504,059
Net assets
$1,246,451,366
Revenue
$479,773,396
Expenses
$358,608,193
Net income
$121,165,203
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,091$279$1,812$538$423$115
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,817$291$1,525$520$380$140
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.
2020Detailed filing. Detailed filing data is available for this year.$1,564$318$1,246$480$359$121
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,549$423$1,126$482$365$117
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,422$402$1,020$465$344$120
2016Detailed filing. Detailed filing data is available for this year.$1,225$445$780$380$299$80.8
2015Detailed filing. Detailed filing data is available for this year.$1,160$450$710$366$274$92.8
2014Detailed filing. Detailed filing data is available for this year.$1,090$468$622$333$242$91.8
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$947$418$529$213
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$745$370$375$169
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$650$348$302$145