Civic Intelligence

Morningside University

990 • Fiscal year 2024 • EIN 42-0680400

Jun 01, 2023 to May 31, 2024 • Filed on Apr 13, 2025

1501 Morningside AvenueSioux City, IA 51106-1717

(712) 274-5000

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.20x

Higher debt load relative to assets than 42% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

48th percentile

0.41x

Higher debt load relative to revenue than 48% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

45th percentile

2.6%

Higher net margin than 45% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

30th percentile

$337,083

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

39th percentile

4.1%

Faster asset growth than 39% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

6.6%

Faster revenue growth than 44% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$135,355,394

Up $5,312,927 (+4.1%) from 2023

Net Assets

Up

$107,618,957

Up $7,678,326 (+7.7%) from 2023

Liabilities

Down

$27,736,437

Down $2,365,399 (-7.9%) from 2023

Revenue

Up

$67,572,023

Up $4,175,185 (+6.6%) from 2023

Expenses

Up

$65,811,058

Up $1,445,062 (+2.2%) from 2023

Net Income

Up

$1,760,965

Up $2,730,123 (+282%) from 2023

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $83,305,969Liabilities 2010: $32,562,313Net Assets 2010: $50,743,6562010Assets 2011: $87,337,983Liabilities 2011: $31,834,095Net Assets 2011: $55,503,8882011Assets 2012: $88,317,865Liabilities 2012: $32,145,977Net Assets 2012: $56,171,8882012Assets 2013: $98,317,517Liabilities 2013: $31,671,260Net Assets 2013: $66,646,2572013Assets 2014: $122,282,010Liabilities 2014: $46,571,060Net Assets 2014: $75,710,9502014Assets 2015: $137,925,315Liabilities 2015: $61,086,347Net Assets 2015: $76,838,9682015Assets 2016: $127,647,521Liabilities 2016: $53,555,452Net Assets 2016: $74,092,0692016Assets 2017: $128,901,494Liabilities 2017: $50,257,573Net Assets 2017: $78,643,9212017Assets 2018: $132,818,525Liabilities 2018: $48,008,762Net Assets 2018: $84,809,7632018Assets 2019: $131,750,943Liabilities 2019: $47,594,304Net Assets 2019: $84,156,6392019Assets 2020: $128,662,837Liabilities 2020: $44,449,533Net Assets 2020: $84,213,3042020Assets 2021: $147,946,360Liabilities 2021: $44,186,450Net Assets 2021: $103,759,9102021Assets 2022: $134,278,573Liabilities 2022: $31,459,116Net Assets 2022: $102,819,4572022Assets 2023: $130,042,467Liabilities 2023: $30,101,836Net Assets 2023: $99,940,6312023Assets 2024: $135,355,394Liabilities 2024: $27,736,437Net Assets 2024: $107,618,9572024

Highlighted filing

2024

Assets$135,355,394
Liabilities$27,736,437
Net Assets$107,618,957

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $40,057,9672010Expenses 2011: $41,371,2802011Revenue 2012: $47,842,574Expenses 2012: $44,564,220Net Income 2012: $3,278,3542012Expenses 2013: $43,008,7582013Revenue 2014: $52,539,568Expenses 2014: $47,610,199Net Income 2014: $4,929,3692014Revenue 2015: $53,409,819Expenses 2015: $50,665,421Net Income 2015: $2,744,3982015Revenue 2016: $54,898,099Expenses 2016: $54,542,485Net Income 2016: $355,6142016Revenue 2017: $57,202,144Expenses 2017: $56,307,569Net Income 2017: $894,5752017Revenue 2018: $62,493,303Expenses 2018: $56,327,461Net Income 2018: $6,165,8422018Revenue 2019: $59,678,425Expenses 2019: $58,405,622Net Income 2019: $1,272,8032019Revenue 2020: $57,241,310Expenses 2020: $58,591,407Net Income 2020: -$1,350,0972020Revenue 2021: $67,438,390Expenses 2021: $59,481,600Net Income 2021: $7,956,7902021Revenue 2022: $70,511,486Expenses 2022: $65,328,143Net Income 2022: $5,183,3432022Revenue 2023: $63,396,838Expenses 2023: $64,365,996Net Income 2023: -$969,1582023Revenue 2024: $67,572,023Expenses 2024: $65,811,058Net Income 2024: $1,760,9652024

Highlighted filing

2024

Revenue$67,572,023
Expenses$65,811,058
Net Income$1,760,965
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Apr 13, 2025
Return Version
2023v6.0
Gross Receipts
$86,695,901
Mission and Program Overview

Mission

The morningside university experience cultivates a passion for life-long learning and a dedication to ethical leadership and civic responsibility.

Morningside university is a 4 year private university, that provides a liberal arts education to full and part-time students, including co-curricular activities (residence halls, dining, bookstore).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$44,459,046$48,664,703▲ $4,205,657
Land, Buildings, and Equipment, Net$50,109,379$47,601,366▼ $2,508,013
Investments Other Securities$26,888,643$29,486,736▲ $2,598,093
Savings and Temporary Cash Investments$2,155,312$3,241,977▲ $1,086,665
Other Notes and Loans Receivable, Net$2,159,206$2,063,022▼ $96,184
Pledges and Grants Receivable$1,493,395$1,706,916▲ $213,521
Accounts Receivable$1,153,430$997,076▼ $156,354
Inventories for Sale or Use$141,565$200,640▲ $59,075
Prepaid Expenses and Deferred Charges$41,091$25,143▼ $15,948
Cash and Non-Interest-Bearing Accounts$4,697$4,967▲ $270
Total Assets$130,042,467$135,355,394▲ $5,312,927
Other Assets Total$1,436,703$1,362,848▼ $73,855
Liabilities
Tax Exempt Bond Liabilities$23,570,000$22,105,000▼ $1,465,000
Other Liabilities$3,042,183$2,548,252▼ $493,931
Accounts Payable and Accrued Expenses$1,754,433$1,585,403▼ $169,030
Unsecured Notes Loans Payable$973,533$770,204▼ $203,329
Escrow Account Liability$361,687$382,648▲ $20,961
Deferred Revenue$400,000$300,000▼ $100,000
Mortgage Notes Payable Secured by Investment Property-$44,930-
Total Liabilities$30,101,836$27,736,437▼ $2,365,399
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$53,625,254$54,305,520▲ $680,266
Net Assets With Donor Restrictions$46,315,377$53,313,437▲ $6,998,060
Total Net Assets Fund Balance$99,940,631$107,618,957▲ $7,678,326
Total Liabilities and Net Assets / Fund Balance$130,042,467$135,355,394▲ $5,312,927

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,774,796$42,180,064$75,954,860
Equipment$1,085,696$13,977,274$15,062,970
Land$10,936,252-$10,936,252
Other Land Buildings$1,804,622$526,878$2,331,500
Other Securities$1,054--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$57,301,893$3,021,879▲ $6,870,244$1,527,566$64,301,016
2022$59,589,258$751,513▲ $1,618,565$3,439,767$57,301,893
2021$57,259,474$5,302,041▼ $549,257$1,341,900$59,589,258
2020$46,411,007$268,531▲ $12,907,936$1,086,693$57,259,474
2019$45,502,931$1,471,760▲ $2,585,316$2,292,692$46,411,007
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Albert MosleyPresidentFT$265,602$101,481$367,083
Jacklyn BarberDean of NursingFT$189,176$45,258$234,434
Christopher SpicerProvost & VP Academic AffairsFT$170,124$23,135$193,259
Terri CurryVP Student Life/enrollmentFT$152,848$35,248$188,096
Paul ErbesVP Institutional AdvancementFT$157,610$17,562$175,172
Mark LumsdenVP Information Tech & Chief Info OfficerFT$153,043$22,068$175,111
Mark LumsdenVP Information Tech & Chief Info Off-$152,063$23,048$175,111
Darrell SandallDean of School of BusinessFT$145,597$28,755$174,352
Erin EdlundVP for University EngagementFT$129,824$36,911$166,735
Paul TreftVP Business & FinanceFT$128,239$18,865$147,104

Board Members and Trustees

NameTitle
Carol WernerDirector
Chad BensonDirector
Chris BogenriefDirector
Cleophus FranklinDirector
Cory RobertsDirector
Curtis WhiteDirector
Cy Chesterman JrDirector
Dan CoxDirector
Dan HendersonDirector
Deborah KieseyDirector
Erica TheinDirector
Esther MackintoshDirector
J Robert BurkhartDirector
James WalkerDirector
Jodi BaconDirector
Kennetha Bigham-tsaiDirector
Khalid RasheedDirector
Mark PorterDirector
Martin PalmerDirector
Meredith Davis LangDirector
Mia SudoDirector
Michael BennettDirector
Nolan LubarskiDirector
Ray ScottDirector
Renee BeaulieuDirector
Richard WallerDirector
Robbie RohlenaDirector
Ron CarlsonDirector
Rosa DiazDirector
Scott KerkhoffDirector
Tarah NolanDirector
Thomas NarakDirector
Thomas RosenDirector
Tim MccabeDirector
Brian JohnsonAlumni Representative
Kimberly ChristophersonFaculty Representative
Caleb LubbersStudent Representative

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo INCFood Service9801 WASHINGONIAN BLVD, Gaithersburg, MD 20878$2,876,054
Lee's Roofing LLCRoofing Contractor33516 GROUSE AVE, Sioux City, IA 51108$179,091
Mcallister & Quinn LLCConsultant1625 EYE ST NW SUITE 750, Washington, DC 20006$109,538
Revenue and Support

Revenue Composition

Contributions and Grants
$7,996,812
Program Service Revenue
$56,324,410
Investment Income
$2,675,902
Other Revenue
$574,899
All Other Contributions
$6,335,447
Change in Net Assets
$1,760,965

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded17$2,135,266Avg Market Value
Total Noncash Contributions17$2,135,266-

Audited Revenue Reconciliation

Revenue per Audited Statements
$43,116,669
Revenue Not Reported on Financial Statements
$24,455,354
Revenue Not Reported on Form 990
$5,917,361
Other Revenue Adjustments
$24,455,354
Total Revenue per Audited Statements
$49,034,030
Total Revenue per Form 990
$67,572,023
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,147,661
Salaries, Compensation, and Employee Benefits$23,173,908
Other Expenses$18,489,489
Total Fundraising Expense$1,493,168
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$24,147,661--$24,147,661
Other Salaries and Wages$13,827,285$2,931,734$743,873$17,502,892
Other Employee Benefits$2,443,670$684,227$130,329$3,258,226
Depreciation Depletion$1,960,514$836,102$86,493$2,883,109
Occupancy$1,424,737$529,188$81,414$2,035,339
All Other Expenses$966,073$329,214$24,790$1,320,077
Payroll Taxes$942,302$263,845$50,256$1,256,403
Interest$796,281$410,205-$1,206,486
Travel$611,658$141,152$188,202$941,012
Other Expenses$553,798$173,696$56,966$784,460
Current Officers, Directors, Trustees, and Key Employees$335,147$427,184-$762,331
Information Technology$430,797$156,653$65,272$652,722
Fees for Services Management$536,986--$536,986
Insurance$296,084$141,209$18,221$455,514
Pension Plan Contributions$295,542$82,752$15,762$394,056
Fees for Service Investment Mgmnt Fees$215,385$80,000$12,308$307,693
Advertising$225,781--$225,781
Office Expenses$82,902$30,792$4,737$118,431
Conferences and Meetings$59,607$18,340$13,755$91,702
Fees for Services Accounting-$83,424-$83,424
Fees for Services Legal$13,636$5,336$790$19,762
Total Functional Expenses$55,748,993$8,568,897$1,493,168$65,811,058

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$65,811,058
Expenses per Audited Statements$41,355,704
Total Expenses per Audited Statements$41,355,704
Expenses Not Reported on Financial Statements$24,455,354
Other Expense Adjustments$24,455,354
Expenses Not Reported on Form 990$0
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$1,940,449
US Government Loan Funds Refundable$384,550
Actuarial Liabilities for Annuities$223,253

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIowa Higher Education Loan Authority2014-12-23$24,010,000Construction and refinance
AIowa Higher Education Loan Authority2013-07-16$19,250,000Construction and equipment

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$24,010,905-$14,750,905$190,517
A$19,253,348$11,010,000$6,408,348$104,466

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
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
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
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

It is the policy of the board of directors of morningside university that the board audit committee shall review the internal revenue service (irs) form 990 prior to the filing with the irs. Once the audit committee has reviewed the form 990, a copy shall be made available to all board members. It is located on the board portal web page. Board members who have comments or revisions to the 990 shall submit these comments or revisions in writing to the chair of the audit committee no later than 10 days after it was made available to them. The chair of the audit committee shall review these with the vp for business & finance to determine if changes are necessary prior to filing with the irs.

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

Annually board members complete a conflict of interest form. The forms are compiled by the president's administrative assistant and reviewed by the board chair. Potential conflicts of interest are addressed by the board chair and reviewed by the audit committee.

Form 990, Part VI, Section B, Line 15

Compensation for the president is based upon terms of an employment contract. The board compensation committee annually reviews the performance and salary level. The review includes interviews with faculty, staff, and students. The salary is compared to universities and colleges in the university's aspirant group and other private university and college presidents as reported in the national and state surveys. The external auditor also reviews the information with the audit committee. Compensation of the vice presidents (vp for business & finance, provost, vp for student life/enrollment, vp for institutional advancement, and vp for marketing & communication) is based on individual performances and comparison of peer group salary levels for comparable positions. The president prepares the annual evaluation with input from faculty senate and presents compensation recommendations to the board compensation committee for their approval. The compensation and comparison data is also presented to the university's external auditors for their review. The external auditor reviews the information with the board audit committee. The compensation committee meets annually and the audit committee meets annually in september or october. For this tax year, the audit committee met on april 5, 2024.

Form 990, Part VI, Section C, Line 19

The university maintains documents for public inspection at the university's learning center. The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Morningside University
EIN
42-0680400
Phone
7122745000
Address
1501 MORNINGSIDE AVENUE, SIOUX CITY, IA 51106-1717

Signing Officer

Name
Jeanette Frey
Title
VP for Business & Finance
Phone
7122745142
Signed
2025-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Albert Mosley
Formed
1894
Legal Domicile
Ia
Voting Board Members
39
Independent Board Members
37
Employees
1,060
Volunteers
140

Preparer

Firm
Henjes Conner & Williams Pc
Address
PO BOX 1937, DAKOTA DUNES, SD 57049
Preparer
Michael T Tramp
Phone
6052423900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The university has not changed its oversight process of the financial audit during the tax year.

Financial Statement Notes

PART III, LINE 4:

The morningside university art collection is housed in the levitt art gallery and serves a purpose similar to library collections. The visual library provides students with primary visual resources that they use in assignments from both art and non-art courses. Students in studio courses investigate the visual technical and methodologies of the pieces. Students in art history and other humanities courses study the visual concept and style in a contextual relationship with human history. The art collection consists of paintings, prints, and scuptures. The most valuable pieces are two paintings by rufino tamayo and one by george winter.

PART IV, LINE 2B:

The amount on part x, line 21 consists of enrollment deposits and student accounts with credit balances.

PART V, LINE 4:

The intended use of the university's endowment funds is to support the ongoing operations of the university including providing scholarships to students.

PART X, LINE 2:

Management has concluded that any uncertain tax positions would be immaterial to the financial statements taken as a whole. Accordingly, the accompanying financial statements do not include any provision for uncertain tax positions, and no related interest or penalties have been recorded in the operating statement or accrued in the balance sheet.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Student financial aid investment expenses

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Student financial aid investment expenses

Part XI, Line 4B and Part XII, Line 4B

Institutional scholarships and grants awarded to students are classified as an expense. Investment expenses which were netted with investment income is reclassified as an expense.

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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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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.
2024Detailed filing. Detailed filing data is available for this year.$135$27.7$108$67.6$65.8$1.76
2023Detailed filing. Detailed filing data is available for this year.$130$30.1$99.9$63.4$64.4$0.97
2022Detailed filing. Detailed filing data is available for this year.$134$31.5$103$70.5$65.3$5.18
2021Detailed filing. Detailed filing data is available for this year.$148$44.2$104$67.4$59.5$7.96
2020Detailed filing. Detailed filing data is available for this year.$129$44.4$84.2$57.2$58.6$1.35
2019Detailed filing. Detailed filing data is available for this year.$132$47.6$84.2$59.7$58.4$1.27
2018Detailed filing. Detailed filing data is available for this year.$133$48.0$84.8$62.5$56.3$6.17
2017Detailed filing. Detailed filing data is available for this year.$129$50.3$78.6$57.2$56.3$0.89
2016Detailed filing. Detailed filing data is available for this year.$128$53.6$74.1$54.9$54.5$0.36
2015Detailed filing. Detailed filing data is available for this year.$138$61.1$76.8$53.4$50.7$2.74
2014Detailed filing. Detailed filing data is available for this year.$122$46.6$75.7$52.5$47.6$4.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$98.3$31.7$66.6$43.0
2012Summary only. Only limited summary data is available for this year.$88.3$32.1$56.2$47.8$44.6$3.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.3$31.8$55.5$41.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.3$32.6$50.7$40.1