Civic Intelligence

Bradley University

990 • Fiscal year 2014 • EIN 37-0661494

Jun 01, 2013 to May 31, 2014 • Filed on Mar 28, 2015

1501 W Bradley Avenue61625-0001

(309) 677-3117

Siviq Scores

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

Liabilities / Assets

44th percentile

0.31x

Higher debt load relative to assets than 44% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

70th percentile

0.83x

Higher debt load relative to revenue than 70% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Net Margin

71st percentile

13%

Higher net margin than 71% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

44th percentile

$730,706

Higher top officer pay than 44% of similar nonprofits.

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

2014 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2014

Asset Growth

40th percentile

5.0%

Faster asset growth than 40% of similar nonprofits.

2014 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$629,084,038

Up $29,697,664 (+5.0%) from 2013

Net Assets

Up

$434,191,401

Up $35,036,116 (+8.8%) from 2013

Liabilities

Down

$194,892,637

Down $5,338,452 (-2.7%) from 2013

Revenue

$233,822,797

No earlier filing loaded for comparison.

Expenses

Down

$203,780,252

Down $70,962 (-0.0%) from 2013

Net Income

$30,042,545

No earlier filing loaded for comparison.

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: $536,685,403Liabilities 2010: $183,484,168Net Assets 2010: $353,201,2352010Assets 2011: $580,145,644Liabilities 2011: $190,784,963Net Assets 2011: $389,360,6812011Assets 2012: $576,492,072Liabilities 2012: $205,661,907Net Assets 2012: $370,830,1652012Assets 2013: $599,386,374Liabilities 2013: $200,231,089Net Assets 2013: $399,155,2852013Assets 2014: $629,084,038Liabilities 2014: $194,892,637Net Assets 2014: $434,191,4012014Assets 2015: $633,456,271Liabilities 2015: $203,646,310Net Assets 2015: $429,809,9612015Assets 2016: $613,652,607Liabilities 2016: $190,553,153Net Assets 2016: $423,099,4542016Assets 2017: $650,240,196Liabilities 2017: $194,490,091Net Assets 2017: $455,750,1052017Assets 2018: $683,160,461Liabilities 2018: $219,158,369Net Assets 2018: $464,002,0922018Assets 2019: $700,074,282Liabilities 2019: $245,924,082Net Assets 2019: $454,150,2002019Assets 2020: $712,945,458Liabilities 2020: $261,387,513Net Assets 2020: $451,557,9452020Assets 2021: $781,363,567Liabilities 2021: $221,114,687Net Assets 2021: $560,248,8802021Assets 2022: $729,570,257Liabilities 2022: $203,889,098Net Assets 2022: $525,681,1592022Assets 2023: $706,507,436Liabilities 2023: $196,037,460Net Assets 2023: $510,469,9762023Assets 2024: $716,974,561Liabilities 2024: $188,574,013Net Assets 2024: $528,400,5482024

Highlighted filing

2014

Assets$629,084,038
Liabilities$194,892,637
Net Assets$434,191,401

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $172,333,6512010Expenses 2011: $191,464,6772011Expenses 2012: $196,104,7242012Expenses 2013: $203,851,2142013Revenue 2014: $233,822,797Expenses 2014: $203,780,252Net Income 2014: $30,042,5452014Revenue 2015: $215,888,667Expenses 2015: $216,049,059Net Income 2015: -$160,3922015Revenue 2016: $194,784,334Expenses 2016: $187,792,329Net Income 2016: $6,992,0052016Revenue 2017: $230,090,766Expenses 2017: $208,701,976Net Income 2017: $21,388,7902017Revenue 2018: $228,868,237Expenses 2018: $228,723,222Net Income 2018: $145,0152018Revenue 2019: $229,726,295Expenses 2019: $230,634,553Net Income 2019: -$908,2582019Revenue 2020: $238,646,085Expenses 2020: $232,879,867Net Income 2020: $5,766,2182020Revenue 2021: $298,103,596Expenses 2021: $195,958,414Net Income 2021: $102,145,1822021Revenue 2022: $236,435,605Expenses 2022: $232,254,906Net Income 2022: $4,180,6992022Revenue 2023: $223,758,505Expenses 2023: $246,866,454Net Income 2023: -$23,107,9492023Revenue 2024: $226,430,743Expenses 2024: $240,509,240Net Income 2024: -$14,078,4972024

Highlighted filing

2014

Revenue$233,822,797
Expenses$203,780,252
Net Income$30,042,545
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Mar 28, 2015
Return Version
2013v4.0
Gross Receipts
$234,090,029
Mission and Program Overview

Mission

Bradley university empowers students for immediate and sustained success in their personal and professional endeavors by combining professional preparation, liberal arts and sciences, and co-curricular experiences. Alongside our dedication to students, we embrace the generation, application, and interpretation of knowledge.

Bradley university is committed to nurturing the multifaceted development of students to enable them to become leaders, innovators, and productive members of society. Our graduates are prepared for life and professions in a changing world and they are able to cross academic, geographic, and cultural boundries. A bradley education is characterized by small classes, active learning, mentoring by highly qualified faculty, challenging academic programs, opportunities for study abroad, and numerous co-curricular activities.we recruit, develop, and support faculty who are passionate educators and outstanding scholars whose research and creative contributions benefit society. We expect and reward pedagogy and scholarship of exceptional quality and influence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$329,079,091$320,323,849▼ $8,755,242
Investments in Publicly Traded Securities$157,924,568$165,684,337▲ $7,759,769
Investments Other Securities$86,791,228$106,962,648▲ $20,171,420
Pledges and Grants Receivable$11,219,213$20,538,785▲ $9,319,572
Investments Program Related$5,162,885$5,573,230▲ $410,345
Accounts Receivable$2,973,628$4,138,274▲ $1,164,646
Prepaid Expenses and Deferred Charges$3,151,394$3,133,680▼ $17,714
Cash and Non-Interest-Bearing Accounts$3,068,145$2,711,265▼ $356,880
Loans From Officers Directors$321,339$0▼ $321,339
Other Notes and Loans Receivable, Net$16,222$17,970▲ $1,748
Total Assets$599,386,374$629,084,038▲ $29,697,664
Liabilities
Tax Exempt Bond Liabilities$116,998,042$114,831,883▼ $2,166,159
Other Liabilities$41,828,669$43,370,720▲ $1,542,051
Accounts Payable and Accrued Expenses$17,733,190$19,101,427▲ $1,368,237
Unsecured Notes Loans Payable$19,433,308$14,167,301▼ $5,266,007
Mortgage Notes Payable Secured by Investment Property$2,074,231$1,795,173▼ $279,058
Deferred Revenue$1,842,310$1,626,133▼ $216,177
Total Liabilities$200,231,089$194,892,637▼ $5,338,452
Net Assets / Fund Balance
Unrestricted Net Assets$293,359,313$315,062,492▲ $21,703,179
Permanently Rstr Net Assets$64,358,015$66,501,379▲ $2,143,364
Temporarily Rstr Net Assets$41,437,957$52,627,530▲ $11,189,573
Total Net Assets Fund Balance$399,155,285$434,191,401▲ $35,036,116
Total Liabilities and Net Assets / Fund Balance$599,386,374$629,084,038▲ $29,697,664

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$256,520,020$86,801,426$343,321,446
Equipment$16,099,358$58,137,176$74,236,534
Other Land Buildings$23,376,461$10,990,836$34,367,297
Land$24,328,010-$24,328,010
Other Securities$1,382,021--
Closely Held Equity Interests$23,262,080--
Financial Derivatives$67,029,150--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$269,348,388$3,022,307▲ $28,693,464$5,754,706$290,027,789
2012$237,156,630$4,341,807▲ $37,980,809$5,394,948$269,348,388
2011$250,208,964$6,716,777▼ $10,352,455$4,816,689$237,156,630
2010$211,803,672$4,405,313▲ $42,336,739$4,201,228$250,208,964
2009$186,714,846$3,479,383▲ $29,722,538$4,055,036$211,803,672
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Geno FordMEN'S BASKETBALL COACHFT$693,615$37,091$730,706
Joanne K GlasserPresidentFT$507,745$198,684$706,429
Gary M AnnaVP of Bus. AffairsFT$231,883$94,148$326,031
James LesFormer Basketball Coach-$283,136$22,984$306,120
Darrel RadsonDean, College of BusinessFT$268,615$26,605$295,220
David GlassmanProvost / VP Academic AffaFT$272,745$19,114$291,859
Desh Paul MehtaChair, Mechanical EngineerFT$275,721$11,623$287,344
Michael CrossAthletic DirectorFT$184,765$97,847$282,612
Lex AkersDean, College of EngineeringFT$243,615$26,199$269,814
Joseph ChenChair, Imet Dept.FT$234,218$17,515$251,733
Chris NikolopoulosProfessor of Computer SciencesFT$222,354$5,993$228,347
Laurence WeinzimmerProfessor of ManagementFT$200,777$20,476$221,253
Paul SchroederVP Enrollment ManagementFT$184,515$17,239$201,754
Nathan ThomasVP Student AffairsFT$149,784$12,399$162,183

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller Hall & TriggsLegal-$324,081
Party Time LimousineStudent Bus Services-$189,910
Tucker Ellis LLPLegal-$128,312
Revenue and Support

Revenue Composition

Contributions and Grants
$23,587,831
Program Service Revenue
$183,788,176
Investment Income
$26,235,809
Other Revenue
$210,981
All Other Contributions
$15,765,017
Change in Net Assets
$30,042,545

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 Traded34$253,559Fair Market Value
Works of Art41$95,392Appraisal
Other Non Cash Contri Table2$58,600Receipts
Other Non Cash Contri Table13$58,567Lease Value
Other Non Cash Contri Table204$12,240Receipts
Other Non Cash Contri Table10$5,472Receipts
Food Inventory38$3,863Receipts
Total Noncash Contributions342$487,693-

Audited Revenue Reconciliation

Revenue per Audited Statements
$234,090,029
Revenue Not Reported on Financial Statements
$-267,232
Revenue Not Reported on Form 990
$-44,008,323
Other Revenue Adjustments
$-267,232
Total Revenue per Audited Statements
$190,081,706
Total Revenue per Form 990
$233,822,797
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$90,780,784
Other Expenses$58,501,441
Grants and Similar Amounts Paid$54,498,027
Total Fundraising Expense$5,143,997
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$57,235,892$8,270,637$2,548,599$68,055,128
Grants to Domestic Individuals$54,498,027--$54,498,027
Occupancy$13,497,956$723,504$366,167$14,587,627
Depreciation Depletion$13,777,692--$13,777,692
Other Employee Benefits$11,157,532$1,799,082$528,509$13,485,123
Office Expenses$5,836,374$1,489,312$753,199$8,078,885
Payroll Taxes$3,878,698$633,164$178,978$4,690,840
Interest$3,114,068$565,049-$3,679,117
Travel$2,953,510$82,838$140,313$3,176,661
Pension Plan Contributions$1,958,707$319,742$90,383$2,368,832
Current Officers, Directors, Trustees, and Key Employees$839,884$1,209,727$131,250$2,180,861
Information Technology$1,584,516$181,340-$1,765,856
Insurance$1,099,786$75,745-$1,175,531
Fees for Service Investment Mgmnt Fees-$1,153,943-$1,153,943
Fees for Services Management$1,011,102$115,459-$1,126,561
Other Expenses$661,420$330,664$209,186$661,420
Fees for Services Other$613,421$7,775-$621,196
Fees for Services Legal$80,445$420,719-$501,164
Conferences and Meetings$197,777$3,686$14,781$216,244
Advertising$102,574$9,492$94,597$206,663
Fees for Services Accounting$2,250$92,720-$94,970
Royalties$29,520--$29,520
All Other Expenses$1,893,910$-1,981,945$88,035-
Total Functional Expenses$183,083,621$15,552,634$5,143,997$203,780,252

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$203,780,252
Total Expenses per Audited Statements$155,045,589
Expenses per Audited Statements$154,489,676
Expenses Not Reported on Financial Statements$49,290,576
Other Expense Adjustments$49,290,576
Expenses Not Reported on Form 990$555,913
International Activity

International Summary

Offices
0
Employees
0
Spending
$595,511

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeProgram ServicesStudy Abroad00$398,737
East Asia & PacificProgram ServicesStudy Abroad00$154,118
South AmericaProgram ServicesStudy Abroad00$19,890
East Asia & PacificProgram ServicesCPA Exam Testing00$17,801
Central America & the CaribbeanProgram ServicesStudy Abroad00$4,965
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$247,117
Gaming Gross Income$99,074
Fundraising Direct Expenses$97,953
Gaming Direct Expenses$42,603
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$139,425$139,425$1,798$137,627
Event 2$56,420$56,420$579$55,841
Total Events$247,117$247,117$97,953$149,164
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Doug StewartTrustee, BoardProvision of Goods & ServicesNo$45,235

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$321,339$0▼ $321,339
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post-retirement Benefits Other Than Pensions$36,325,166
Swap Contract$5,365,242
Student Deposits$1,680,312

Bond Issues

BondIssuerIssuedIssue PricePurpose
B86-10919672008-03-25$63,775,000Refund bonds issued on 2/19/02 and 4/17/07
A86-10919672007-04-17$59,003,141Refund bonds issued on 8/12/99; construct univ. Fac

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$63,775,000--$564,514
A$62,291,040$1,959-$1,063,656

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
Yes
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The form 990 detail is prepared by the controller, and assistant controllers. The entire form is then reviewed and approved by the controller who then submits it to the vice president business affairs for review and approval. Thereafter, the form 990 is provided to the audit committee of the board of trustees for review prior to submission to the entire board of trustees.

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

On an annual basis, the trustees of the board complete conflict of interest forms. Forms are reviewed and disclosed to the executive committee as appropriate. Conflict of interest forms are also completed annually by officers and key employees. Forms are reviewed by the president. The president's conflict of interest form is reviewed by compensation committee of the board of trustees. Faculty must certify to their department chairs on an annual basis their compliance with the university's conflict of committment and conflict of interest policies by completing a form. The department chair forwards these certifications to the provost. If there is a conflict an ad hoc disclosure form is completed. After department chair reviews, this form is forwarded to the dean, then provost for approval of determination. Certain administrative and professional staff at the university are also required to complete conflict of interest forms. These forms are then reviewed by their directors and forwarded to the appropriate vice president for review, approval, and determination.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board of trustees reviews the president's compensation based upon form 990 of other organizations and compensation surveys. A written employment contract is issued. The university president determines compensation of the other officers and key employees based upon compensation surveys. This is then submitted to the compensation committee of the board of trustees for review. A written employment contract is issued.

Form 990, Part VI, Section C, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

EIN
37-0661494
Phone
3096773117

Signing Officer

Name
Gary Anna
Title
Vice President Bus Affairs
Phone
3096773123
Signed
2015-03-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Anna
Formed
1897
Legal Domicile
Il
Voting Board Members
22
Independent Board Members
21
Employees
3,636
Volunteers
829

Preparer

Preparer
Samuel a Cigelnik
Phone
3096714500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Swap contract gain 818,151. Changes in split dollar interest -288,682.

Form 990, Part XII, Line 2C

The organization did not change its oversight process or selection process during the tax year.

Financial Statement Notes

PART III, LINE 4:

Collection of art and other historical treasures include various sculptures, paintings, and other works of art; sea chart; historical maps of america; antique watch from when the university was a college of horology; and historical books. These items are on display in the library and other parts of campus and serve to further the university's educational purpose in the arts, history, and the humanities in general.

PART V, LINE 4:

The university endowment serves to support the educational mission of the university by providing substantial and sustainable flow of funds to the operating budget and restricted funds in order to support the long-term goals of the university.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -49,290,576. Swap contract gain 818,151.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses -126,676. Fundraising expenses -97,953. Gaming expenses -42,603.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 126,676. Fundraising expenses 97,953. Gaming expenses 42,603.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 49,290,576.

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IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP OF BUS. AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt23PROVOST / VP ACADEMIC AFFA
IRS990/Form990PartVIISectionAGrp/TitleTxt24ATHLETIC DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DEAN, COLLEGE OF BUSINESS
IRS990/Form990PartVIISectionAGrp/TitleTxt26DEAN, COLLEGE OF ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt27VP STUDENT AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt28VP ENROLLMENT MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt29MEN'S BASKETBALL COACH
IRS990/Form990PartVIISectionAGrp/TitleTxt30CHAIR, MECHANICAL ENGINEER
IRS990/Form990PartVIISectionAGrp/TitleTxt31PROFESSOR OF MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt32CHAIR, IMET DEPT.
IRS990/Form990PartVIISectionAGrp/TitleTxt33PROFESSOR OF COMPUTER SCIENCES
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$717$189$528$226$241$14.1
2023Detailed filing. Detailed filing data is available for this year.$707$196$510$224$247$23.1
2022Detailed filing. Detailed filing data is available for this year.$730$204$526$236$232$4.18
2021Detailed filing. Detailed filing data is available for this year.$781$221$560$298$196$102
2020Detailed filing. Detailed filing data is available for this year.$713$261$452$239$233$5.77
2019Detailed filing. Detailed filing data is available for this year.$700$246$454$230$231$0.91
2018Detailed filing. Detailed filing data is available for this year.$683$219$464$229$229$0.15
2017Detailed filing. Detailed filing data is available for this year.$650$194$456$230$209$21.4
2016Detailed filing. Detailed filing data is available for this year.$614$191$423$195$188$6.99
2015Detailed filing. Detailed filing data is available for this year.$633$204$430$216$216$0.16
2014Detailed filing. Detailed filing data is available for this year.$629$195$434$234$204$30.0
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$599$200$399$204
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$576$206$371$196
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$580$191$389$191
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$537$183$353$172