Civic Intelligence

Bradley University

990 • Fiscal year 2018 • EIN 37-0661494

Jun 01, 2017 to May 31, 2018 • Filed on Apr 08, 2019

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

50th percentile

0.32x

Higher debt load relative to assets than 50% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.96x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

27th percentile

0.1%

Higher net margin than 27% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$709,823

Higher top officer pay than 42% of similar nonprofits.

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

59th percentile

5.1%

Faster asset growth than 59% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

26th percentile

-0.5%

Faster revenue growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$683,160,461

Up $32,920,265 (+5.1%) from 2017

Net Assets

Up

$464,002,092

Up $8,251,987 (+1.8%) from 2017

Liabilities

Up

$219,158,369

Up $24,668,278 (+13%) from 2017

Revenue

Down

$228,868,237

Down $1,222,529 (-0.5%) from 2017

Expenses

Up

$228,723,222

Up $20,021,246 (+9.6%) from 2017

Net Income

Down

$145,015

Down $21,243,775 (-99%) from 2017

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

2018

Assets$683,160,461
Liabilities$219,158,369
Net Assets$464,002,092

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

2018

Revenue$228,868,237
Expenses$228,723,222
Net Income$145,015
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 8, 2019
Return Version
2017v2.3
Gross Receipts
$229,048,373
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$304,776,694$306,559,869▲ $1,783,175
Investments in Publicly Traded Securities$154,598,253$170,497,166▲ $15,898,913
Investments Other Securities$121,549,295$121,584,027▲ $34,732
Cash and Non-Interest-Bearing Accounts$33,399,193$35,418,204▲ $2,019,011
Savings and Temporary Cash Investments-$21,919,197-
Pledges and Grants Receivable$26,369,453$17,259,480▼ $9,109,973
Investments Program Related$5,399,069$5,561,274▲ $162,205
Accounts Receivable$3,406,524$3,252,090▼ $154,434
Prepaid Expenses and Deferred Charges$720,501$1,086,340▲ $365,839
Loans From Officers Directors$383,179$0▼ $383,179
Other Notes and Loans Receivable, Net$21,214$22,814▲ $1,600
Total Assets$650,240,196$683,160,461▲ $32,920,265
Liabilities
Tax Exempt Bond Liabilities$109,047,923$131,678,208▲ $22,630,285
Other Liabilities$47,914,270$48,049,389▲ $135,119
Accounts Payable and Accrued Expenses$23,668,226$26,035,495▲ $2,367,269
Unsecured Notes Loans Payable$7,562,719$7,434,804▼ $127,915
Deferred Revenue$4,426,640$4,577,643▲ $151,003
Mortgage Notes Payable Secured by Investment Property$1,487,134$1,382,830▼ $104,304
Total Liabilities$194,490,091$219,158,369▲ $24,668,278
Net Assets / Fund Balance
Unrestricted Net Assets$327,822,055$339,561,760▲ $11,739,705
Permanently Rstr Net Assets$71,768,423$73,740,679▲ $1,972,256
Temporarily Rstr Net Assets$56,159,627$50,699,653▼ $5,459,974
Total Net Assets Fund Balance$455,750,105$464,002,092▲ $8,251,987
Total Liabilities and Net Assets / Fund Balance$650,240,196$683,160,461▲ $32,920,265

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$229,521,515$119,062,123$348,583,638
Equipment$12,272,708$58,221,754$70,494,462
Other Land Buildings$39,613,724$16,177,299$55,791,023
Land$25,151,922-$25,151,922
Other Securities$1,030,793--
Closely Held Equity Interests$23,752,173--
Financial Derivatives$78,140,523--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$299,257,226$4,205,899▲ $23,564,600$7,383,342$313,641,208
2016$273,959,967$5,716,483▲ $31,425,002$6,231,199$299,257,226
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian WardleMEN'S BASKETBALL COACHFT$663,035$46,788$709,823
Gary RobertsPresidentFT$406,220$93,940$500,160
Geno FordFormer Basketball Coach-$350,000-$350,000
Ralph Christopher ReynoldsVP Intercollegiate AthleticsFT$213,574$93,970$307,544
Darrel RadsonDean, College of BusinessFT$264,446$22,776$287,222
Walter ZakahiSenior VP Academic AffairsFT$248,409$30,958$279,367
Gary M AnnaSenior VP of Business AffaFT$197,279$59,110$256,389
Lex AkersDean, College of EngineeriFT$226,449$26,631$253,080
Jake HeuserVP DevelopmentFT$213,112$27,845$240,957
Joseph ChenChair ImetFT$150,659$83,073$233,732
Nathan ThomasVP Student AffairsFT$174,959$11,589$186,548

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller Hall & TriggsLegal416 MAIN STREET, Peoria, IL 61602$427,427
Nepc LLCPortfolio Management FeesPO BOX 4110, Woburn, MA 01888$381,619
Bb FlooringConstruction; FlooringPO BOX 8118, East Peoria, IL 61611$164,948
Brandes Investment Partners LPPortfolio Management FeesPO BOX 919048, San Diego, CA 92191-9048$126,527
Njj Touring LLCEntertainment135 W 50TH STREET FLR 19, New York, NY 10020$125,000
Revenue and Support

Revenue Composition

Contributions and Grants
$7,586,973
Program Service Revenue
$195,415,679
Investment Income
$25,721,733
Other Revenue
$143,852
All Other Contributions
$4,781,600
Change in Net Assets
$145,015

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 Traded25$317,279Fair Market Value
Works of Art1$83,000Appraisal
Other Non Cash Contri Table12$63,621Lease Value
Other Non Cash Contri Table12$29,983Receipts
Other Non Cash Contri Table72$13,694Receipts
Food Inventory30$3,059Receipts
Other Non Cash Contri Table3$2,979Receipts
Total Noncash Contributions155$513,615-

Audited Revenue Reconciliation

Revenue per Audited Statements
$229,539,681
Revenue Not Reported on Financial Statements
$-671,444
Revenue Not Reported on Form 990
$-60,238,786
Other Revenue Adjustments
$-671,444
Total Revenue per Audited Statements
$169,300,895
Total Revenue per Form 990
$228,868,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$99,115,769
Grants and Similar Amounts Paid$68,082,975
Other Expenses$61,524,478
Total Fundraising Expense$4,920,816
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$60,113,685$7,576,563$2,418,006$70,108,254
Grants to Domestic Individuals$68,082,975--$68,082,975
Other Employee Benefits$15,643,721$2,455,012$686,696$18,785,429
Occupancy$14,323,307$1,428,191$385,382$16,136,880
Depreciation Depletion$13,481,151--$13,481,151
Office Expenses$6,808,156$671,763$601,131$8,081,050
Payroll Taxes$4,073,105$632,874$178,793$4,884,772
Information Technology$3,977,752$599,449$224$4,577,425
Travel$3,657,026$115,096$100,169$3,872,291
Pension Plan Contributions$2,494,541$387,599$109,500$2,991,640
Current Officers, Directors, Trustees, and Key Employees$1,131,207$980,510$233,957$2,345,674
Interest$2,206,332--$2,206,332
Fees for Service Investment Mgmnt Fees-$1,385,038-$1,385,038
Insurance$1,142,130$228,220-$1,370,350
Fees for Services Management$949,238--$949,238
Advertising$402,621$5,528$10,970$419,119
Fees for Services Legal$38,195$296,408-$334,603
Conferences and Meetings$273,624$7,012$13,033$293,669
Other Expenses$247,131$-670,887$182,955$247,131
Fees for Services Accounting$2,250$93,350-$95,600
Fees for Services Other$78,593--$78,593
Total Functional Expenses$207,610,680$16,191,726$4,920,816$228,723,222

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$228,723,222
Expenses per Audited Statements$165,449,304
Total Expenses per Audited Statements$161,017,872
Expenses Not Reported on Financial Statements$63,273,918
Other Expense Adjustments$63,273,918
Expenses Not Reported on Form 990$-4,431,432
International Activity

International Summary

Offices
0
Employees
0
Spending
$287,331

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$243,588
East Asia & PacificProgram ServicesCPA Exam Testing00$31,326
Central America and the CaribbeanProgram ServicesStudy Abroad00$12,417
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$191,554
Gaming Gross Income$66,295
Fundraising Direct Expenses$65,910
Gaming Direct Expenses$40,872
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$132,163$132,163$10,777$121,386
Golf Outing$30,475$30,475$2,647$27,828
Total Events$191,554$191,554$65,910$125,644
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$383,179$0▼ $383,179
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post-retirement Benefits Other Than Pensions$43,130,847
Swap Contract$2,924,649
Student Deposits$1,993,893

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
CIllinois Finance Authority Series 2017a & B2017-09-19$50,000,000Construction on instructional building
DIllinois Finance Authority Series 2017c2017-09-19$39,500,000Refund bonds issued on 4/17/07

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$63,775,000--$564,514
A$62,291,040$1,959$59,003,141$1,063,656
D$39,500,000--$157,599
C$25,000,000--$326,351

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 11B

The form 990 detail is prepared by the associate controller and assistant controller. The entire form is then reviewed and approved by the cfo/controller. 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 the compensation committee of the board of trusteees. Faculty must certify to their department chairs on an annual basis their compliance with the university's conflict of commitment 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
Pratima Gandhi
Title
CFO
Phone
3096773123
Signed
2019-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Roberts
Formed
1897
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
19
Employees
3,331
Volunteers
1,189

Preparer

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

Additional Explanations

FORM 990, PART XI, LINE 9:

Swap contract gain 1,551,353. Changes in split dollar interest -337,519. Loss on disposal of asset 3,217,598. Gain on extinguishment of debt 671,444.

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 have 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 -63,273,918.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Gain on extinguishment of debt -671,444.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Swap contract gain -1,551,353. Loss on disposal of asset -3,217,598.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 63,273,918.

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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/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt22VP DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP STUDENT AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP INTERCOLLEGIATE ATHLETICS
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IRS990/Form990PartVIISectionAGrp/TitleTxt26MEN'S BASKETBALL COACH
IRS990/Form990PartVIISectionAGrp/TitleTxt27DEAN, COLLEGE OF ENGINEERI
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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