Civic Intelligence

William Penn University

990 • Fiscal year 2015 • EIN 42-0707120

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

North Market And Trueblood AvenueOskaloosa, IA 52577

(641) 673-1001

Siviq Scores

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

Liabilities / Assets

81st percentile

0.73x

Higher debt load relative to assets than 81% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

79th percentile

1.45x

Higher debt load relative to revenue than 79% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

28th percentile

-0.3%

Higher net margin than 28% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

13th percentile

$157,416

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

85th percentile

16%

Faster asset growth than 85% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-1.5%

Faster revenue growth than 30% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$77,904,586

Up $10,983,464 (+16%) from 2014

Net Assets

Up

$21,305,802

Up $483,478 (+2.3%) from 2014

Liabilities

Up

$56,598,784

Up $10,499,986 (+23%) from 2014

Revenue

Down

$39,145,139

Down $614,635 (-1.5%) from 2014

Expenses

Down

$39,269,612

Down $562,953 (-1.4%) from 2014

Net Income

Down

-$124,473

Down $51,682 (-71%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $58,626,219Liabilities 2010: $44,682,925Net Assets 2010: $13,943,2942010Assets 2011: $63,774,866Liabilities 2011: $47,690,335Net Assets 2011: $16,084,5312011Assets 2012: $65,667,736Liabilities 2012: $46,728,792Net Assets 2012: $18,938,9442012Assets 2013: $66,758,149Liabilities 2013: $46,339,574Net Assets 2013: $20,418,5752013Assets 2014: $66,921,122Liabilities 2014: $46,098,798Net Assets 2014: $20,822,3242014Assets 2015: $77,904,586Liabilities 2015: $56,598,784Net Assets 2015: $21,305,8022015Assets 2016: $78,339,126Liabilities 2016: $56,150,544Net Assets 2016: $22,188,5822016Assets 2017: $78,768,416Liabilities 2017: $56,224,996Net Assets 2017: $22,543,4202017Assets 2018: $77,434,582Liabilities 2018: $54,587,500Net Assets 2018: $22,847,0822018Assets 2019: $76,454,511Liabilities 2019: $52,014,756Net Assets 2019: $24,439,7552019Assets 2020: $76,786,240Liabilities 2020: $50,995,970Net Assets 2020: $25,790,2702020Assets 2021: $77,652,968Liabilities 2021: $46,958,688Net Assets 2021: $30,694,2802021Assets 2022: $78,771,952Liabilities 2022: $46,945,086Net Assets 2022: $31,826,8662022Assets 2023: $82,522,880Liabilities 2023: $47,255,280Net Assets 2023: $35,267,6002023Assets 2024: $84,983,218Liabilities 2024: $46,202,789Net Assets 2024: $38,780,4292024

Highlighted filing

2015

Assets$77,904,586
Liabilities$56,598,784
Net Assets$21,305,802

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $32,616,1122010Expenses 2011: $33,687,8052011Expenses 2012: $37,384,2052012Expenses 2013: $38,066,8352013Revenue 2014: $39,759,774Expenses 2014: $39,832,565Net Income 2014: -$72,7912014Revenue 2015: $39,145,139Expenses 2015: $39,269,612Net Income 2015: -$124,4732015Revenue 2016: $40,064,882Expenses 2016: $39,416,597Net Income 2016: $648,2852016Revenue 2017: $36,015,386Expenses 2017: $36,011,842Net Income 2017: $3,5442017Revenue 2018: $37,124,395Expenses 2018: $36,854,156Net Income 2018: $270,2392018Revenue 2019: $38,827,623Expenses 2019: $37,083,308Net Income 2019: $1,744,3152019Revenue 2020: $40,090,210Expenses 2020: $38,687,396Net Income 2020: $1,402,8142020Revenue 2021: $45,471,214Expenses 2021: $41,352,922Net Income 2021: $4,118,2922021Revenue 2022: $45,582,134Expenses 2022: $43,858,725Net Income 2022: $1,723,4092022Revenue 2023: $51,668,305Expenses 2023: $48,331,876Net Income 2023: $3,336,4292023Revenue 2024: $51,277,637Expenses 2024: $51,517,863Net Income 2024: -$240,2262024

Highlighted filing

2015

Revenue$39,145,139
Expenses$39,269,612
Net Income-$124,473
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$39,344,791
Mission and Program Overview

Mission

William penn university provides the opportunity for an educational experience with a focus on leadership, technology, and the quaker principles of simplicity, peace-making, intergrity, community and equality.

William Penn University provides the opportunity for an educational experience with a focus on leadership, technology, and the Quaker principles of simplicity, peace-making, integrity, community and equality.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,065,991$51,572,746▲ $11,506,755
Other Notes and Loans Receivable, Net$2,547,263$2,992,897▲ $445,634
Prepaid Expenses and Deferred Charges$1,369,362$1,315,773▼ $53,589
Accounts Receivable$786,493$942,823▲ $156,330
Cash and Non-Interest-Bearing Accounts$981,845$916,186▼ $65,659
Pledges and Grants Receivable$1,629,600$770,358▼ $859,242
Investments in Publicly Traded Securities$534,033$561,970▲ $27,937
Investments Other Securities$410,000$410,000→ $0
Savings and Temporary Cash Investments-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$66,921,122$77,904,586▲ $10,983,464
Other Assets Total$18,596,535$18,421,833▼ $174,702
Liabilities
Tax Exempt Bond Liabilities$32,429,698$31,955,453▼ $474,245
Mortgage Notes Payable Secured by Investment Property$7,844,222$18,636,245▲ $10,792,023
Accounts Payable and Accrued Expenses$3,691,898$3,764,088▲ $72,190
Other Liabilities$1,506,072$1,533,511▲ $27,439
Deferred Revenue$602,708$685,287▲ $82,579
Unsecured Notes Loans Payable$24,200$24,200→ $0
Total Liabilities$46,098,798$56,598,784▲ $10,499,986
Net Assets / Fund Balance
Temporarily Rstr Net Assets$10,238,295$9,958,436▼ $279,859
Permanently Rstr Net Assets$7,354,972$7,464,793▲ $109,821
Unrestricted Net Assets$3,229,057$3,882,573▲ $653,516
Total Net Assets Fund Balance$20,822,324$21,305,802▲ $483,478
Total Liabilities and Net Assets / Fund Balance$66,921,122$77,904,586▲ $10,983,464

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$45,123,187$11,607,395$56,730,582
Equipment$2,672,853$12,887,534$15,560,387
Land$3,776,706-$1,242,751
Other Assets Org$1,531,177--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$6,105,023$105,174▲ $438,077$258,456$6,389,818
2013$6,054,403$51,496▲ $314,311$315,187$6,105,023
2012$5,959,108$228,435▲ $212,149$345,289$6,054,403
2011$6,217,613$94,192▼ $39,929$312,768$5,959,108
2010$5,906,333$47,159▲ $557,382$293,261$6,217,613
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John OttossonPresidentFT$143,319$14,097$157,416
Bonnie L JohnsonVP of FinanceFT$109,100$16,441$125,541
Noel StahleVP of AcademicsFT$101,363$12,212$113,575
Todd HafnerFtball CoachFT$99,655$10,658$110,313
Mike LairdBaseball CoachFT$89,964$15,919$105,883
Mike FosterDirector of IsFT$80,291$15,711$96,002
Jared PearceDirector of Assess.FT$76,183$15,589$91,772
Greg HafnerVP of AthleticsFT$79,546$8,669$88,215
Marsha RiordanVice PresidentFT$64,487$12,031$76,518
Kerra StrongVice PresidentFT$62,003$8,096$70,099
Linda ParkerVice PresidentFT$42,469$9,518$51,987
Angella Durian-gambellSecretaryFT$33,402$13,572$46,974

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo ServicesFood Service4880 PAYSPHERE CIRCLE, Chicago, IL 60674$1,668,837
Three Rivers Systems INCSoftware174 CLARSON RD SUITE 200, Ellisville, MO 63011$455,275
JenzabarSoftware MaintenancePO BOX 845939, boston, MA 02284-5939$194,490
Mahaska Communications GroupMedia ServicesPO BOX 1038, Oskaloosa, IA 52577$157,489
Revenue and Support

Revenue Composition

Contributions and Grants
$6,167,804
Program Service Revenue
$33,006,564
Investment Income
$121,573
Other Revenue
$-150,802
All Other Contributions
$5,602,922
Change in Net Assets
$-124,473

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
Other Non Cash Contri Table1$218,316Fair Value
Other Non Cash Contri Table1$57,796Fair Value
Other Non Cash Contri Table120$25,423Fair Value
Total Noncash Contributions122$301,535-

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,964,991
Revenue Not Reported on Financial Statements
$15,180,148
Revenue Not Reported on Form 990
$1,020,101
Other Revenue Adjustments
$15,180,148
Total Revenue per Audited Statements
$24,985,092
Total Revenue per Form 990
$39,145,139
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$14,952,640
Other Expenses$13,447,468
Salaries, Compensation, and Employee Benefits$10,869,504
Total Fundraising Expense$388,877
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$14,952,640--$14,952,640
Other Salaries and Wages$7,175,130$669,544$102,828$7,947,502
Fees for Services Other$842,172$1,564,185-$2,406,357
Interest$2,148,686$70,094$22,411$2,241,191
Occupancy$1,445,587$74,425$15,058$1,535,070
Depreciation Depletion$1,215,123$37,973$12,658$1,265,754
All Other Expenses$696,300$462,592$39,873$1,198,765
Other Employee Benefits$1,058,555$100,383$15,558$1,174,496
Current Officers, Directors, Trustees, and Key Employees$454,645$451,192$79,568$985,405
Payroll Taxes$534,260$74,638$12,081$620,979
Other Expenses$545,545$728,125$20,533$545,545
Travel$434,852$29,648$25,956$490,456
Insurance$395,091--$395,091
Pension Plan Contributions$129,004$10,688$1,430$141,122
Fees for Services Accounting-$79,152-$79,152
Advertising$7,971$66,499$843$75,313
Fees for Services Legal-$20,930-$20,930
Total Functional Expenses$34,270,243$4,610,492$388,877$39,269,612

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$39,269,612
Total Expenses per Audited Statements$24,501,614
Expenses per Audited Statements$24,089,464
Expenses Not Reported on Financial Statements$15,180,148
Other Expense Adjustments$15,180,148
Expenses Not Reported on Form 990$412,150
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$15,841
Fundraising Gross Income$9,692
Gaming Gross Income$385
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$23,192$7,225$383$6,842
Golf Tournament$14,867$2,467-$2,467
Total Events$38,059$9,692$15,841$-6,149
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Part VPhone Internet CableNo$157,489

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
US Government Grants Refundable$1,533,511

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIowa Higher Education Loan Authority2005-05-19$6,535,655see part vi
BIowa Higher Education Loan Authority2009-10-02$1,150,000Construction of facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$6,567,731$5,498,955$30,000$130,391
B$1,166,030--$20,772

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
No
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

2 current trustees are employed by the same company.

Form 990, Part VI, Line 11B: Form 990 Review Process

Copy of form 990 was reviewed by the finance committee.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Every board member, administrator, or person who has control over a budget, completes a conflict of interest form. They are reviewed by the Finance Committee of the Board of Directors.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The organization used comparable data to determine the amount of executive compensation for the president and other officers and top management.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The organization used comparable data to determine the amount of executive compensation for the president and other officers and top management.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Articles of incorporation and by-laws are available upon request to the business office of the organization.

Form 990, Part VI, Section B, Line 16

The organization currently has an agreement with a for-profit entity regarding the recruitment and marketing of a college for working adults program. The contract with the for-profit entity is reviewed annually and the arrangement is monitored daily to safeguard the organizations tax-exempt status.

Filing and Contact Details

Filer

Filer Name
William Penn University
EIN
42-0707120
Phone
6416731001
Address
NORTH MARKET AND TRUEBLOOD AVENUE, OSKALOOSA, IA 52577

Signing Officer

Name
Bonnie Johnson
Title
CFO
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Formed
1873
Legal Domicile
Ia
Voting Board Members
21
Independent Board Members
19
Employees
878
Volunteers
50

Preparer

Firm
TD&T CPAs and Advisors PC
Address
317 HIGH AVE E, OSKALOOSA, IA 52577-2823
Preparer
Joseph B Ryan CPA
Phone
6416722523
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

Other program services 4: cost of sales, support and maintenance of campus bookstore for students, faculty and staff. Other program services 5: scholarship programs for scholarships and grants to 1,712 students. Other program services 6: students services, including student development, academic and career counceling, intercollegiate athletics, financial assistance and other services, was provided to 1,698 full and part time students.

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

The university maintains a collection of middle east artifacts and a replica of the jing yung bell for purposes of public exhibit and scholarly research.

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds consist of approximately 108 individual funds established for scholarships, grants and unrestricted purposes for the university. Only revenue earned by the portfolio of investments can be used for the intended purpose.

Part X : FIN48 Footnote

The University has a tax determination letter from the Internal Revenue Service stating it qualifies under the provision of Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes. As such, the University is subject to federal income taxes only on any net unrelated business income under the provisions of Section 511 of the Internal Revenue Code. The University follows the accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the University for uncertain tax positions as of June 30, 2015 and 2014. The University is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The University believes it is no longer subject to income tax examinations for years ended prior to June 30, 2012.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Grouping differences $0 special event expenses $15841 rental expenses $183811

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships and grants $14952640 grouping differences $227508

Part XII, Line 2D: Other expenses and losses per audited F/S

SPECIAL EVENT EXPENSES $15841 RENTAL EXPENSES $183811 grouping differences $0

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships and grants $14952640 grouping differences $227508

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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/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP OF ACADEMICS

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$85.0$46.2$38.8$51.3$51.5$0.24
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$82.5$47.3$35.3$51.7$48.3$3.34
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.8$46.9$31.8$45.6$43.9$1.72
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.7$47.0$30.7$45.5$41.4$4.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$76.8$51.0$25.8$40.1$38.7$1.40
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.5$52.0$24.4$38.8$37.1$1.74
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$77.4$54.6$22.8$37.1$36.9$0.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.8$56.2$22.5$36.0$36.0$0.00
2016Detailed filing. Detailed filing data is available for this year.$78.3$56.2$22.2$40.1$39.4$0.65
2015Detailed filing. Detailed filing data is available for this year.$77.9$56.6$21.3$39.1$39.3$0.12
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$66.9$46.1$20.8$39.8$39.8$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.8$46.3$20.4$38.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.7$46.7$18.9$37.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.8$47.7$16.1$33.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.6$44.7$13.9$32.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $50M-$100M nonprofits