Civic Intelligence

Bradley University

990 • Fiscal year 2016 • EIN 37-0661494

Jun 01, 2015 to May 31, 2016 • Filed on Mar 24, 2017

1501 W Bradley AvenuePeoria, IL 61625-0001

(309) 677-3117

Siviq Scores

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

Liabilities / Assets

45th percentile

0.31x

Higher debt load relative to assets than 45% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

74th percentile

0.98x

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

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Net Margin

47th percentile

3.6%

Higher net margin than 47% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

89th percentile

$2,361,476

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Asset Growth

21st percentile

-3.1%

Faster asset growth than 21% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

18th percentile

-9.8%

Faster revenue growth than 18% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Assets

Down

$613,652,607

Down $19,803,664 (-3.1%) from 2015

Net Assets

Down

$423,099,454

Down $6,710,507 (-1.6%) from 2015

Liabilities

Down

$190,553,153

Down $13,093,157 (-6.4%) from 2015

Revenue

Down

$194,784,334

Down $21,104,333 (-9.8%) from 2015

Expenses

Down

$187,792,329

Down $28,256,730 (-13%) from 2015

Net Income

Up

$6,992,005

Up $7,152,397 (+4459%) from 2015

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

2016

Assets$613,652,607
Liabilities$190,553,153
Net Assets$423,099,454

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

2016

Revenue$194,784,334
Expenses$187,792,329
Net Income$6,992,005
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Mar 24, 2017
Return Version
2015v3.0
Gross Receipts
$207,459,129
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$312,784,215$305,850,383▼ $6,933,832
Investments in Publicly Traded Securities$164,588,503$148,673,337▼ $15,915,166
Investments Other Securities$111,340,521$113,480,202▲ $2,139,681
Pledges and Grants Receivable$27,959,553$22,386,402▼ $5,573,151
Cash and Non-Interest-Bearing Accounts$5,204,356$12,595,030▲ $7,390,674
Investments Program Related$5,747,912$5,410,797▼ $337,115
Accounts Receivable$2,850,363$3,048,600▲ $198,237
Prepaid Expenses and Deferred Charges$2,961,921$2,188,925▼ $772,996
Loans From Officers Directors$1,040,667$733,179▼ $307,488
Other Notes and Loans Receivable, Net$18,927$18,931▲ $4
Total Assets$633,456,271$613,652,607▼ $19,803,664
Liabilities
Tax Exempt Bond Liabilities$112,566,872$111,310,112▼ $1,256,760
Other Liabilities$57,349,795$46,956,493▼ $10,393,302
Accounts Payable and Accrued Expenses$21,231,268$17,811,980▼ $3,419,288
Unsecured Notes Loans Payable$8,179,175$7,758,622▼ $420,553
Deferred Revenue$1,593,747$4,409,098▲ $2,815,351
Mortgage Notes Payable Secured by Investment Property$1,684,786$1,573,669▼ $111,117
Total Liabilities$203,646,310$190,553,153▼ $13,093,157
Net Assets / Fund Balance
Unrestricted Net Assets$300,466,091$296,113,788▼ $4,352,303
Permanently Rstr Net Assets$68,265,860$69,178,007▲ $912,147
Temporarily Rstr Net Assets$61,078,010$57,807,659▼ $3,270,351
Total Net Assets Fund Balance$429,809,961$423,099,454▼ $6,710,507
Total Liabilities and Net Assets / Fund Balance$633,456,271$613,652,607▼ $19,803,664

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$246,144,736$104,330,306$350,475,042
Equipment$12,787,672$53,015,313$65,802,985
Other Land Buildings$21,772,543$13,408,214$35,180,757
Land$25,145,432-$25,145,432
Other Securities$1,320,749--
Closely Held Equity Interests$20,811,803--
Financial Derivatives$73,662,823--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$290,974,441$4,723,738▼ $9,861,018$6,283,379$273,959,967
2014$290,027,789$4,672,749▲ $7,944,275$6,154,178$290,974,441
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joanne GlasserFormer President-$201,115$2,160,361$2,361,476
Geno FordFormer Basketball Coach-$453,384$14,767$468,151
Brian WardleMEN'S BASKETBALL COACHFT$434,447$30,980$465,427
Michael CrossFormer Athletic Director-$198,189$82,335$280,524
Gary M AnnaVP of Business AffairsFT$213,633$61,893$275,526
Darrel RadsonDean, College of BusinessFT$244,535$27,211$271,746
Desh Paul MehtaChair, Mechanical Engineering DepartmentFT$254,792$11,715$266,507
Desh Paul MehtaChair, Mechanical Engineering Depart-$254,792$11,715$266,507
Lex AkersDean, College of EngineeringFT$219,492$26,295$245,787
Jake HeuserVP DevelopmentFT$201,035$28,711$229,746
Lawrence WeinzimmerCaterpillar Prof / ManagementFT$207,410$20,691$228,101
Joan SattlerInterim Provost and Ehs DeanFT$165,203$52,285$217,488
Stan LibertyInterim President (to 12/31/15)FT$213,655$42$213,697
Nathan ThomasVP Student AffairsFT$167,000$10,210$177,210
David GlassmanFormer Provost / VP Academic Affairs-$105,802$27,717$133,519

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller Hall & TriggsLegal416 MAIN STREET, Peoria, IL 61602$264,757
Ruth VedvikConsultant2340 FIELDS SOUTH DRIVE, Champaign, IL 61822$171,250
Schefftech Productions LLCProduction Services3830 W PALMYRA COURT, Peoria, IL 61604$137,316
Brandes Investment Partners LPInvestment FirmFILE 56106, Los Angeles, CA 90074$131,081
Cliftonlarsonallen LLPAccounting301 SW ADAMS STREET, Peoria, IL 61602$119,225
Revenue and Support

Revenue Composition

Contributions and Grants
$14,393,124
Program Service Revenue
$180,187,174
Investment Income
$36,272
Other Revenue
$167,764
All Other Contributions
$9,448,524
Change in Net Assets
$6,992,005

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 Traded30$1,737,999Fair Market Value
Other Non Cash Contri Table19$73,185Lease Value
Other Non Cash Contri Table10$47,251Receipts
Other Non Cash Contri Table15$17,493Receipts
Other Non Cash Contri Table56$15,329Receipts
Food Inventory32$3,961Receipts
Total Noncash Contributions162$1,895,218-

Audited Revenue Reconciliation

Revenue per Audited Statements
$194,784,334
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-64,766,715
Total Revenue per Audited Statements
$130,017,619
Total Revenue per Form 990
$194,784,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$75,872,283
Grants and Similar Amounts Paid$56,617,056
Other Expenses$55,302,990
Total Fundraising Expense$4,139,296
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$56,125,154$7,513,163$2,466,236$66,104,553
Grants to Domestic Individuals$56,617,056--$56,617,056
Occupancy$13,065,020$1,013,603$342,060$14,420,683
Depreciation Depletion$13,219,739--$13,219,739
Office Expenses$5,913,410$781,939$551,423$7,246,772
Payroll Taxes$3,818,982$611,586$181,503$4,612,071
Interest$3,488,712$182,454-$3,671,166
Information Technology$2,912,263$254,039$19,164$3,185,466
Travel$2,214,430$101,143$177,894$2,493,467
Current Officers, Directors, Trustees, and Key Employees$1,239,075$861,256$226,821$2,327,152
Pension Plan Contributions$1,876,771$300,553$89,197$2,266,521
Insurance$1,345,613$46,300-$1,391,913
Fees for Service Investment Mgmnt Fees-$1,092,735-$1,092,735
Fees for Services Management$1,046,330$27,681-$1,074,011
Other Employee Benefits$504,766$38,620$18,600$561,986
Fees for Services Legal$7,872$427,611-$435,483
Other Expenses$378,917$395,769-$378,917
Conferences and Meetings$234,341$1,924$2,851$239,116
Advertising$216,748-$16,011$232,759
Fees for Services Accounting$3,750$104,390-$108,140
Fees for Services Other$70,601--$70,601
All Other Expenses$991,981$-1,039,517$47,536-
Total Functional Expenses$170,914,966$12,738,067$4,139,296$187,792,329

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$187,792,329
Total Expenses per Audited Statements$136,728,126
Expenses per Audited Statements$136,466,218
Expenses Not Reported on Financial Statements$51,326,111
Other Expense Adjustments$51,326,111
Expenses Not Reported on Form 990$261,908
International Activity

International Summary

Offices
0
Employees
0
Spending
$376,971

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$357,122
East Asia & PacificProgram ServicesCPA Exam Testing00$19,849
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$194,426
Gaming Gross Income$96,100
Fundraising Direct Expenses$54,828
Gaming Direct Expenses$41,070
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$121,520$121,520$9,199$112,321
Golf Outing$41,760$41,760$550$41,210
Total Events$194,426$194,426$54,888$139,538
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
Douglas StewartTrustee, BoardProvision of Goods & ServicesNo$46,627

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$1,040,667$733,179▼ $307,488
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post-retirement Benefits Other Than Pensions$39,546,548
Swap Contract$5,940,142
Student Deposits$1,469,803

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIllinois Finance Authority Series 2008 A&b2008-03-25$63,775,000Refund bonds issued on 2/19/02 and 4/17/07
AIllinois Finance Authority Series 2007 a2007-04-17$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$9,985,000$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, senior accounting manager, and assistant controller. The entire form is then reviewed and approved by the controller who then submits it to the sr. 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

Filer Name
Bradley University
EIN
37-0661494
Phone
3096773117
Address
1501 W BRADLEY AVENUE, PEORIA, IL 61625-0001

Signing Officer

Name
Gary Anna
Title
Vice President Bus Affairs
Phone
3096773123
Signed
2017-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Anna
Formed
1897
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
19
Employees
3,520
Volunteers
1,136

Preparer

Firm
Cliftonlarsonallen Llp
Address
301 SW ADAMS STE 1000, PEORIA, IL 61602
Preparer
Samuel a Cigelnik
Phone
3096714500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Swap contract loss -218,284. Changes in split dollar interest -43,624. Allowance for uncollectible pledge receivable -5,000,000.

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 X, LINE 2:

The university is exempt from federal and state income taxes under the applicable u.s. And illinois internal revenue codes for related income. No provisions has been made in the accompanying financial statements as the university believes there is no significant unrelated business income.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -51,326,111. Allowance for uncollectible pledge receivable -5,000,000.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Swap contract loss 218,284.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 51,326,111.

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

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IRS990/Form990PartVIISectionAGrp/TitleTxt20VP OF BUSINESS AFFAIRS
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IRS990/Form990PartVIISectionAGrp/TitleTxt22INTERIM PROVOST AND EHS DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP STUDENT AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt25DEAN, COLLEGE OF BUSINESS
IRS990/Form990PartVIISectionAGrp/TitleTxt26DEAN, COLLEGE OF ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt27CHAIR, MECHANICAL ENGINEERING DEPARTMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28CATERPILLAR PROF / MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt29MEN'S BASKETBALL COACH
IRS990/Form990PartVIISectionAGrp/TitleTxt30FORMER PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt31FORMER ATHLETIC DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32FORMER PROVOST / VP ACADEMIC AFFAIRS
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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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $250M-$1B nonprofits