Civic Intelligence

Finlandia University

EIN 38-1359570 • 501(c)3 • Hancock, MI

View Organization Page

Profile

To provide instructional and educational services.

601 Quincy StreetHancock, MI 49930

www.finlandia.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.47x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

0.94x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

45th percentile

2.8%

Higher net margin than 45% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

26th percentile

-0.8%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

48th percentile

6.3%

Faster revenue growth than 48% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$36,184,751

Down $274,206 (-0.8%) from 2020

Liabilities

Down

$16,954,078

Down $774,200 (-4.4%) from 2020

Net Assets

Up

$19,230,673

Up $499,994 (+2.7%) from 2020

Operations
Liabilities / Revenue77th percentileNet Margin45th percentile

Revenue

Up

$18,081,025

Up $1,065,968 (+6.3%) from 2020

Expenses

Up

$17,581,030

Up $1,256,431 (+7.7%) from 2020

Net Income

Down

$499,995

Down $190,463 (-28%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $24,098,363Liabilities 2010: $9,474,652Net Assets 2010: $14,623,7112010Assets 2011: $26,091,401Liabilities 2011: $9,566,037Net Assets 2011: $16,525,3642011Assets 2012: $28,930,855Liabilities 2012: $11,731,770Net Assets 2012: $17,199,0852012Assets 2013: $29,671,404Liabilities 2013: $12,198,279Net Assets 2013: $17,473,1252013Assets 2014: $30,088,850Liabilities 2014: $13,429,602Net Assets 2014: $16,659,2482014Assets 2015: $32,493,055Liabilities 2015: $15,321,076Net Assets 2015: $17,171,9792015Assets 2016: $34,451,127Liabilities 2016: $17,736,345Net Assets 2016: $16,714,7822016Assets 2017: $33,386,351Liabilities 2017: $18,447,281Net Assets 2017: $14,939,0702017Assets 2018: $37,372,683Liabilities 2018: $19,027,350Net Assets 2018: $18,345,3332018Assets 2019: $34,753,647Liabilities 2019: $16,713,426Net Assets 2019: $18,040,2212019Assets 2020: $36,458,957Liabilities 2020: $17,728,278Net Assets 2020: $18,730,6792020Assets 2021: $36,184,751Liabilities 2021: $16,954,078Net Assets 2021: $19,230,6732021

Highlighted filing

2021

Assets$36,184,751
Liabilities$16,954,078
Net Assets$19,230,673
Open 2021 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2010: $11,322,6812010Expenses 2011: $13,063,1572011Expenses 2012: $12,340,5572012Revenue 2013: $15,096,224Expenses 2013: $14,822,184Net Income 2013: $274,0402013Revenue 2014: $14,115,728Expenses 2014: $14,929,605Net Income 2014: -$813,8772014Revenue 2015: $14,491,781Expenses 2015: $13,979,050Net Income 2015: $512,7312015Revenue 2016: $14,932,096Expenses 2016: $15,389,293Net Income 2016: -$457,1972016Revenue 2017: $13,043,179Expenses 2017: $14,818,891Net Income 2017: -$1,775,7122017Revenue 2018: $19,008,814Expenses 2018: $14,921,824Net Income 2018: $4,086,9902018Revenue 2019: $15,351,014Expenses 2019: $15,656,126Net Income 2019: -$305,1122019Revenue 2020: $17,015,057Expenses 2020: $16,324,599Net Income 2020: $690,4582020Revenue 2021: $18,081,025Expenses 2021: $17,581,030Net Income 2021: $499,9952021

Highlighted filing

2021

Revenue$18,081,025
Expenses$17,581,030
Net Income$499,995
Open 2021 Filing

Filings

Most recent year

2021 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$36,184,751
Liabilities
$16,954,078
Net assets
$19,230,673
Revenue
$18,081,025
Expenses
$17,581,030
Net income
$499,995
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.2$17.0$19.2$18.1$17.6$0.50
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.5$17.7$18.7$17.0$16.3$0.69
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.8$16.7$18.0$15.4$15.7$0.31
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.4$19.0$18.3$19.0$14.9$4.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$18.4$14.9$13.0$14.8$1.78
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.5$17.7$16.7$14.9$15.4$0.46
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.5$15.3$17.2$14.5$14.0$0.51
2014Detailed filing. Detailed filing data is available for this year.$30.1$13.4$16.7$14.1$14.9$0.81
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$12.2$17.5$15.1$14.8$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.9$11.7$17.2$12.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.1$9.57$16.5$13.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$9.47$14.6$11.3
Latest Detailed Filing

The latest 2021 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 13, 2021
Return Version
2019v5.0
Gross Receipts
$17,015,057
Mission and Program Overview

Mission

To provide instructional and educational services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,723,009$23,451,549▼ $271,460
Pledges and Grants Receivable$4,009,312$5,430,495▲ $1,421,183
Investments Other Securities$4,516,702$4,510,076▼ $6,626
Cash and Non-Interest-Bearing Accounts$381,270$1,092,960▲ $711,690
Accounts Receivable$1,211,175$1,070,863▼ $140,312
Investments in Publicly Traded Securities$226,389$251,814▲ $25,425
Inventories for Sale or Use$223,776$216,044▼ $7,732
Prepaid Expenses and Deferred Charges$136,578$97,426▼ $39,152
Total Assets$34,753,647$36,458,957▲ $1,705,310
Other Assets Total$325,436$337,730▲ $12,294
Liabilities
Other Liabilities$15,530,806$16,983,531▲ $1,452,725
Deferred Revenue$241,118$394,453▲ $153,335
Accounts Payable and Accrued Expenses$756,435$195,353▼ $561,082
Grants Payable$185,067$154,941▼ $30,126
Total Liabilities$16,713,426$17,728,278▲ $1,014,852
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,097,303$13,897,940▼ $199,363
Net Assets Without Donor Restrictions$3,942,918$4,832,739▲ $889,821
Total Net Assets Fund Balance$18,040,221$18,730,679▲ $690,458
Total Liabilities and Net Assets / Fund Balance$34,753,647$36,458,957▲ $1,705,310

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,839,359$14,647,138$34,486,497
Land$3,612,190-$3,612,190
Other Securities$508--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Ms Julie BadelChair
Mr Paul KnutiVice-chair
Dr John NiskaTrustee
Mr Daniel NiemiTrustee
Mr Eric SaueyTrustee
Mr Michael a LahtiTrustee
Mr Ross RinkinenTrustee
Mr Stephen NikanderTrustee
Ms Kathleen HarmonTrustee
Ms Marilyn ClarkTrustee
Rev Peter VorhesTrustee
Shelby HamarTrustee
Jeanne KemppainenSecretary
Mr John J PerrasTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,233,897
Program Service Revenue
$10,429,419
Investment Income
$37,453
Other Revenue
$2,314,288
Change in Net Assets
$690,458

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,015,057
Total Revenue per Audited Statements
$17,015,057
Total Revenue per Form 990
$17,015,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,814,881
Salaries, Compensation, and Employee Benefits$7,509,718
Total Fundraising Expense$115,419
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,079,502--$5,079,502
Other Employee Benefits$1,144,035$204,202$102,466$1,450,703
All Other Expenses$1,037,588--$1,037,588
Interest$942,298--$942,298
Depreciation Depletion$801,740--$801,740
Payroll Taxes$772,531--$772,531
Travel$558,520--$558,520
Occupancy$531,601--$531,601
Fees for Services Other$416,817--$416,817
Office Expenses$240,426--$240,426
Pension Plan Contributions$206,982--$206,982
Other Expenses$121,899--$121,899
Fees for Services Accounting$106,213--$106,213
Conferences and Meetings$96,361--$96,361
Insurance$73,542--$73,542
Advertising$5,895$43,552$12,953$62,400
Fees for Services Legal$10,510--$10,510
Fees for Services Management$4,696--$4,696
Total Functional Expenses$15,961,426$247,754$115,419$16,324,599

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,324,599
Total Expenses per Audited Statements$16,324,599
Total Expenses per Form 990$16,324,599
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes, Bond, Mortgage Obligations$14,988,190
Accrued Liabilities$1,995,341
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

“Mr. Michael a. Lahti mr. John j. Perras mr. Eric sauey ms. Julie badel jeanne kemppainen mr. Paul knuti shelby hamar rev. Peter vorhes mr. Daniel niemi mr. Ross rinkinen mr. Stephen nikander dr. John niska ms. Marilyn clark ms. Kathleen harmon”

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

“No review was or will be conducted.”

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

“The board of trustees determines the president's salary. Salary decisions have been linked to recent historical data internally as well as local and cohort comparatives, also taking market factors and internal financial considerations into account. When a change in compensation or any terms of employment is made for the president, the board of trustees sends human resources a copy of the letter that was sent to the president informing him of the change. Human resources then completes an internal form documenting the change and the form is required to be signed off by human resources, executive vp of business, and the president.”

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

“The president determines compensation for the executive vp's. Salary decisions for these leaders have been linked to recent historical data internally as well as local and cohort comparatives, also taking market factors and internal financial considerations into account. For compensation terms of employment changes made for all other employees (including the executive vps), the direct supervisor completes the aforementioned form and includes any supplemental documentation. Approval must be made on the form by signature from the supervisor, the executive vp overseeing the unit the employee works, the executive vp for business, human resources, and the president.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are kept in the library and are available upon request.”

Filing and Contact Details

Filer

Filer Name
Finlandia University
EIN
38-1359570
Phone
9064877231
Address
601 QUINCY STREET, HANCOCK, MI 49930

Signing Officer

Name
Dr Philip Johnson
Title
President
Phone
9064877231
Signed
2021-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Philip Johnson
Formed
1896
Legal Domicile
Mi
Voting Board Members
13
Independent Board Members
0
Employees
252

Preparer

Firm
Anderson Tackman & Company Plc
Address
201 E HUGHITT ST, IRON MOUNTAIN, MI 49801-2909
Preparer
Shane M Ellison CPA
Phone
9067744300
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Mannerheim, inc. - consolidated for financial statement 0 mannerheim, inc. - consolidated for financial statements 0 rounding 0 net loss from reconciliation of subsidiary 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Mannerheim, inc. - consolidated for financial statement 0”

Schedule D, Page 4, Part XII, Line 2D

“Mannerheim, inc. - consolidated for financial statements 0 rounding 0”

Raw XML AppendixShowing 400 of 449 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.

Path#Value
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IRS990/PrincipalOfficerNm0DR PHILIP JOHNSON
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11995341
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES, BOND, MORTGAGE OBLIGATIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED LIABILITIES
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11364885
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt214915
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3508
IRS990ScheduleD/OtherSecuritiesGrp/Desc0NOW ACCOUNT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1CD
IRS990ScheduleD/OtherSecuritiesGrp/Desc2ELCA CONTRACT
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANNERHEIM, INC. - CONSOLIDATED FOR FINANCIAL STATEMENT 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MANNERHEIM, INC. - CONSOLIDATED FOR FINANCIAL STATEMENTS 0 ROUNDING 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL INFORMATION IS INCLUDED IN ENROLLMENT LITERATURE, CD'S CATALOGS, WEBSITE, HANDBOOKS AND PRINTED BROCHURES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt11. FUNDS THAT COME IN ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS FOR PELL, SEOG, ACG, AND DIRECT LOANS. 2. FUNDS THAT COME FROM FEDERAL SOURCES THAT ARE EITHER PROGRAM SUPPORT OR STUDENT SUPPORT ARE CONTROLLED BY FINLANDIA UNIVERSITY. 3. PROGRAM SUPPORT - SSS, UB, ETS ARE ALL GRANT PROGRAMS AT FINLANDIA UNIVERSITY. 4. STUDENT SUPPORT - WORK STUDY PROGRAM - FINLANDIA UNIVERSITY CUTS PAYROLL CHECKS TO STUDENTS. 5. NOT ALL OF THE ABOVE PROGRAMS PROVIDE FINANCIAL ASSISTANCE TO FINLANDIA UNIVERSITY BUT RATHER TO THE STUDENTS OR THE PROGRAM THEY SUPPORT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MR. MICHAEL A. LAHTI MR. JOHN J. PERRAS MR. ERIC SAUEY MS. JULIE BADEL JEANNE KEMPPAINEN MR. PAUL KNUTI SHELBY HAMAR REV. PETER VORHES MR. DANIEL NIEMI MR. ROSS RINKINEN MR. STEPHEN NIKANDER DR. JOHN NISKA MS. MARILYN CLARK MS. KATHLEEN HARMON
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF TRUSTEES DETERMINES THE PRESIDENT'S SALARY. SALARY DECISIONS HAVE BEEN LINKED TO RECENT HISTORICAL DATA INTERNALLY AS WELL AS LOCAL AND COHORT COMPARATIVES, ALSO TAKING MARKET FACTORS AND INTERNAL FINANCIAL CONSIDERATIONS INTO ACCOUNT. WHEN A CHANGE IN COMPENSATION OR ANY TERMS OF EMPLOYMENT IS MADE FOR THE PRESIDENT, THE BOARD OF TRUSTEES SENDS HUMAN RESOURCES A COPY OF THE LETTER THAT WAS SENT TO THE PRESIDENT INFORMING HIM OF THE CHANGE. HUMAN RESOURCES THEN COMPLETES AN INTERNAL FORM DOCUMENTING THE CHANGE AND THE FORM IS REQUIRED TO BE SIGNED OFF BY HUMAN RESOURCES, EXECUTIVE VP OF BUSINESS, AND THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT DETERMINES COMPENSATION FOR THE EXECUTIVE VP'S. SALARY DECISIONS FOR THESE LEADERS HAVE BEEN LINKED TO RECENT HISTORICAL DATA INTERNALLY AS WELL AS LOCAL AND COHORT COMPARATIVES, ALSO TAKING MARKET FACTORS AND INTERNAL FINANCIAL CONSIDERATIONS INTO ACCOUNT. FOR COMPENSATION TERMS OF EMPLOYMENT CHANGES MADE FOR ALL OTHER EMPLOYEES (INCLUDING THE EXECUTIVE VPS), THE DIRECT SUPERVISOR COMPLETES THE AFOREMENTIONED FORM AND INCLUDES ANY SUPPLEMENTAL DOCUMENTATION. APPROVAL MUST BE MADE ON THE FORM BY SIGNATURE FROM THE SUPERVISOR, THE EXECUTIVE VP OVERSEEING THE UNIT THE EMPLOYEE WORKS, THE EXECUTIVE VP FOR BUSINESS, HUMAN RESOURCES, AND THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE KEPT IN THE LIBRARY AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANNERHEIM, INC. - CONSOLIDATED FOR FINANCIAL STATEMENT 0 MANNERHEIM, INC. - CONSOLIDATED FOR FINANCIAL STATEMENTS 0 ROUNDING 0 NET LOSS FROM RECONCILIATION OF SUBSIDIARY 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TotalGrossUBIAmt00
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