Civic Intelligence

Briar Cliff University

990 • Fiscal year 2021 • EIN 42-0707124

Jun 01, 2020 to May 31, 2021 • Filed on Apr 15, 2022

3303 Rebecca StreetSioux City, IA 51104

(712) 279-5504

Siviq Scores

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

Liabilities / Assets

65th percentile

0.36x

Higher debt load relative to assets than 65% of similar nonprofits.

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

Liabilities / Revenue

64th percentile

0.47x

Higher debt load relative to revenue than 64% of similar nonprofits.

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

Net Margin

18th percentile

-1.2%

Higher net margin than 18% of similar nonprofits.

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

Top Officer Pay

61st percentile

$292,675

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

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

Asset Growth

35th percentile

5.3%

Faster asset growth than 35% of similar nonprofits.

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

Revenue Growth

21st percentile

-5.3%

Faster revenue growth than 21% of similar nonprofits.

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

Assets

Up

$44,688,006

Up $2,236,689 (+5.3%) from 2020

Net Assets

Up

$28,652,726

Up $2,983,883 (+12%) from 2020

Liabilities

Down

$16,035,280

Down $747,194 (-4.5%) from 2020

Revenue

Down

$34,434,455

Down $1,939,246 (-5.3%) from 2020

Expenses

Down

$34,845,394

Down $2,187,454 (-5.9%) from 2020

Net Income

Up

-$410,939

Up $248,208 (+38%) from 2020

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2012: $33,542,497Liabilities 2012: $7,939,142Net Assets 2012: $25,603,3552012Assets 2013: $38,007,190Liabilities 2013: $11,672,910Net Assets 2013: $26,334,2802013Assets 2014: $39,452,524Liabilities 2014: $11,637,552Net Assets 2014: $27,814,9722014Assets 2015: $41,260,865Liabilities 2015: $12,305,957Net Assets 2015: $28,954,9082015Assets 2016: $40,350,800Liabilities 2016: $12,974,474Net Assets 2016: $27,376,3262016Assets 2017: $40,919,169Liabilities 2017: $13,887,918Net Assets 2017: $27,031,2512017Assets 2018: $43,877,523Liabilities 2018: $16,674,681Net Assets 2018: $27,202,8422018Assets 2019: $41,410,390Liabilities 2019: $15,682,495Net Assets 2019: $25,727,8952019Assets 2020: $42,451,317Liabilities 2020: $16,782,474Net Assets 2020: $25,668,8432020Assets 2021: $44,688,006Liabilities 2021: $16,035,280Net Assets 2021: $28,652,7262021Assets 2022: $43,158,553Liabilities 2022: $15,529,080Net Assets 2022: $27,629,4732022Assets 2023: $43,158,553Liabilities 2023: $15,529,080Net Assets 2023: $27,629,4732023

Highlighted filing

2021

Assets$44,688,006
Liabilities$16,035,280
Net Assets$28,652,726

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2012: $28,697,4422012Revenue 2013: $29,638,616Expenses 2013: $29,898,263Net Income 2013: -$259,6472013Revenue 2014: $31,355,877Expenses 2014: $30,391,091Net Income 2014: $964,7862014Revenue 2015: $32,141,669Expenses 2015: $30,877,755Net Income 2015: $1,263,9142015Revenue 2016: $31,610,801Expenses 2016: $32,465,752Net Income 2016: -$854,9512016Revenue 2017: $34,661,478Expenses 2017: $34,786,818Net Income 2017: -$125,3402017Revenue 2018: $35,980,136Expenses 2018: $36,463,179Net Income 2018: -$483,0432018Revenue 2019: $37,454,431Expenses 2019: $38,545,061Net Income 2019: -$1,090,6302019Revenue 2020: $36,373,701Expenses 2020: $37,032,848Net Income 2020: -$659,1472020Revenue 2021: $34,434,455Expenses 2021: $34,845,394Net Income 2021: -$410,9392021Revenue 2022: $37,073,995Expenses 2022: $37,174,895Net Income 2022: -$100,9002022Revenue 2023: $37,073,995Expenses 2023: $37,174,895Net Income 2023: -$100,9002023

Highlighted filing

2021

Revenue$34,434,455
Expenses$34,845,394
Net Income-$410,939
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Apr 15, 2022
Return Version
2020v4.2
Gross Receipts
$37,433,742
Mission and Program Overview

Mission

Briar cliff university is a community committed to higher education within a liberal arts and catholic perspective. In the franciscan tradition of service, caring and openness to all, briar cliff emphasizes quality education for its students, combining a broad intellectual background with career development. The university challenges it's members to grow in self-awareness and in their relationships to others and to god.

POST-SECONDARY EDUCATION

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,891,419$18,068,044▲ $3,176,625
Land, Buildings, and Equipment, Net$19,459,464$17,719,273▼ $1,740,191
Savings and Temporary Cash Investments$3,260,129$5,393,889▲ $2,133,760
Pledges and Grants Receivable$2,126,652$1,481,725▼ $644,927
Investments Program Related$1,624,457$1,439,298▼ $185,159
Accounts Receivable$665,911$510,077▼ $155,834
Inventories for Sale or Use$224,714$0▼ $224,714
Prepaid Expenses and Deferred Charges$187,871$65,000▼ $122,871
Cash and Non-Interest-Bearing Accounts$10,700$10,700→ $0
Total Assets$42,451,317$44,688,006▲ $2,236,689
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,292,400$10,000,852▼ $291,548
Other Liabilities$4,306,898$3,998,322▼ $308,576
Accounts Payable and Accrued Expenses$1,634,224$1,724,740▲ $90,516
Deferred Revenue$548,952$311,366▼ $237,586
Total Liabilities$16,782,474$16,035,280▼ $747,194
Net Assets / Fund Balance
Net Assets With Donor Restrictions$16,306,038$19,517,851▲ $3,211,813
Net Assets Without Donor Restrictions$9,362,805$9,134,875▼ $227,930
Total Net Assets Fund Balance$25,668,843$28,652,726▲ $2,983,883
Total Liabilities and Net Assets / Fund Balance$42,451,317$44,688,006▲ $2,236,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,318,905$20,488,773$36,807,678
Equipment$686,451$8,384,595$9,071,046
Other Land Buildings$619,942$1,691,712$2,311,654
Land$93,975-$93,975

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$17,085,946$640,022▲ $4,084,643$50,048$20,565,457
2019$16,276,558$292,602▲ $1,150,982$17,921$17,085,946
2018$14,199,125$2,479,816▲ $283,955-$16,276,558
2017$13,015,759$444,376▲ $1,374,248-$14,199,125
2016$12,066,605$365,198▲ $1,236,155-$13,015,759
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rachelle KeckPresident, Board SecretaryFT$286,025$6,650$292,675
Patrick CrossProgram Director, DptFT$144,250-$144,250
Patrick HauerProf. & Asst Prog Director, DptFT$129,000$12,109$141,109
Mark RossiProfessor, Business AdministrationFT$117,064$16,146$133,210
Timm FunkVP Admin & Finance, Board TreasurerFT$123,750-$123,750
Todd KnealingVP for Academic AffairsFT$113,009$6,518$119,527
Brian WienkAssociate Professor , DptFT$107,000$12,109$119,109
Cortni KrusemarkAssitant Professor, OccFT$103,000$9,680$112,680
Matt ThomsenVP for Enrollment ManagementFT$87,549$12,109$99,658
Tina StroudVP for University RelationsFT$99,022-$99,022
Nic SandrettVP for Operations & AthleticsFT$85,000$12,109$97,109
Sr Pat DoodyVP for Mission and LeadershipFT$38,379$2,322$40,701

Board Members and Trustees

NameTitle
Steven FreemanBoard Chair
Dr Patrick WalshBoard Member, Vice Chair
Bailey AalfsBoard Member
Bishop R Walker NicklessBoard Member
David SimmonsBoard Member
Gail BernsteinBoard Member
Jane ScheyBoard Member
Ken BeaulieuBoard Member
Mark SchuettBoard Member
Mark WardBoard Member
Mary SterkBoard Member
Nick RothBoard Member
Pam DuzikBoard Member
Ron BondBoard Member
Sr Kathy KnipperBoard Member
Sr Marge StaudtBoard Member
Sr Renae HohenseeBoard Member
Anette HamiltonBoard Member (outgoing)

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark ServicesFood Service3303 REBECCA STREET, Sioux City, IA 51104$1,224,852
Mid American Golf LandscapeBaseball Infield/ Turf Fielding1621 SUMMIT ST, Lees Summitt, MO 64081$261,807
Electric InnovationsIt/network Management/consulting2300 7TH STREET, Sioux City, IA 51105$196,953
National Management ResourcesFacilities ManagementPO BOX 1224, Lagrange, GA 30241$195,696
Cfo NextConsulting/ Accounting Firm1509 CHOCTAW CT, Sioux City, IA 51104$191,156
Revenue and Support

Revenue Composition

Contributions and Grants
$5,986,474
Program Service Revenue
$27,700,010
Investment Income
$828,101
Other Revenue
$-80,130
All Other Contributions
$3,043,783
Change in Net Assets
$-410,939

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded5$1,132,369Fair Market Value
Other Non Cash Contri Table1$63,100Fair Market Value
Clothing and Household Goods-$17,500Thrift Shop Value
Other Non Cash Contri Table1$12,000Fair Market Value
Total Noncash Contributions7$1,224,969-

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,738,992
Revenue Not Reported on Financial Statements
$12,695,463
Revenue Not Reported on Form 990
$4,012,660
Other Revenue Adjustments
$12,606,324
Total Revenue per Audited Statements
$25,751,652
Total Revenue per Form 990
$34,434,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,945,094
Salaries, Compensation, and Employee Benefits$12,925,471
Other Expenses$8,974,829
Total Fundraising Expense$784,631
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$12,945,094--$12,945,094
Other Salaries and Wages$9,354,985$370,710$197,943$9,923,638
Fees for Services Other$1,411,199$877,754-$2,288,953
Other Employee Benefits$1,441,550$70,290$38,214$1,550,054
Depreciation Depletion$814,761$543,175-$1,357,936
Office Expenses$854,872$149,661$37,949$1,042,482
Occupancy$562,946$375,298-$938,244
Payroll Taxes$690,799$33,683$18,313$742,795
Current Officers, Directors, Trustees, and Key Employees$236,388$373,574$99,022$708,984
Information Technology$416,487$46,277-$462,764
Interest$271,469$180,980-$452,449
Insurance$249,803$166,536-$416,339
Advertising$332,188$36,910-$369,098
All Other Expenses-$58,194$249,775$307,969
Travel$208,587$26,373$4,796$239,756
Fees for Service Investment Mgmnt Fees-$89,139-$89,139
Fees for Services Accounting-$72,181-$72,181
Other Expenses$15,152$26,168$2,293$43,613
Fees for Services Legal-$11,679-$11,679
Total Functional Expenses$30,086,949$3,973,814$784,631$34,845,394

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$34,845,394
Total Expenses per Audited Statements$22,767,769
Expenses per Audited Statements$22,237,807
Expenses Not Reported on Financial Statements$12,607,587
Other Expense Adjustments$12,518,448
Expenses Not Reported on Form 990$529,962
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
Paycheck Protection Program Loan$2,410,400
Government Grants Refundable$1,587,922
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 A, Line 1

There will be an executive committee, which shall be made up of seven members of the board of trustees. These members shall include the chairperson of the board of trustees, the vice chairperson of the board of trustees, the bishop of the diocese of sioux city, the president, and the chairs of the finance committee, the student development advisory board and the institutional advancement committee. Four of the seven members of the executive committee shall be present in order to conduct business of the corporation. An executive committee meeting may be called any time by the president or chairperson of the board. The action or recommendation of the executive committee would be taken to the full board of trustees at a regular or special board of trustees meeting. The executive committee has the power to act for the corporation in all respects in emergency situations. The executive committee shall also be responsible for overseeing the audit functions on behalf of the corporation, including, but not limited to the appointment, removal, compensation and oversight of the work of the independent auditor; however, the president shall not be allowed a vote on any matters relating to this function. In meeting its obligations herein, the executive committee will select the external auditor when the institution periodically conducts the review process. The executive committee will also pre-approve non-audit services performed by the external auditor.

Form 990, Part VI, Section A, Line 7A

The number of trustees of the corporation shall not be fewer than five (5) nor more than thirty (30). At each annual meeting of the trustees, the total number of trustees for the succeeding year shall be set and the trustees shall elect new trustees by majority vote to hold office until the next succeeding annual meeting and each trustee except those listed below shall hold office for a term of three years and may succeed himself or herself for two terms only. The following representatives shall at all times be members of the board of trustees: (1) the president of the sisters of st. Francis of dubuque, iowa or her designee. The president or her designee shall also serve as chairperson of the board of trustees. (2) three additional sisters to be selected by the president of the sisters of st. Francis of dubuque, iowa. (3) the bishop of the catholic diocese of sioux city, sioux city, iowa or his designee. (4) the president of briar cliff university.

Form 990, Part VI, Section B, Line 11B

The audit firm of baker tilly prepares the form 990 with data from the annual audit and other data provided by the assistant vice president for finance. The vice president for finance and the president then review the form 990. After the vice president for finance and president's review, the form 990 is distributed to the board of trustees for their review, questions and comments. At the end of this process, the form 990 is electronically submitted to the irs.

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

Briar cliff university has each member of the board of trustees complete and sign a conflict of interest statement on an annual basis. Additionally, briar cliff university personnel who contact vendors ae made aware of board relationships and proceed accordingly. A trustee having a conflict of interest in a matter before the board is precluded from participating in discussion or action on the matter, and must excuse themselves from the meeting for that agenda item. Remaining members will determine if there is an actual conflict of interest. Actions resulting from conflicts of interest are documented and recorded in the minutes.

Form 990, Part VI, Section B, Line 15

Briar cliff university (bcu) has an audit committee as part of the board of trustees that reviews and discusses the salaries for the president and vice presidents. Comparisons are made to other iowa association of independent colleges and universities institutions to see if bcu officers are compensated appropriately. Salary recommendations are also made based on these comparisons. The compensation committee met in october 2019 in a minuted meeting to review and discuss the salary and other compensatory matters for the president and vice presidents.

Form 990, Part VI, Section C, Line 19

Briar cliff university makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The university's form 990 is also on guidestar's web site.

Filing and Contact Details

Filer

Filer Name
Briar Cliff University
EIN
42-0707124
Phone
7122795504
Address
3303 REBECCA STREET, SIOUX CITY, IA 51104

Signing Officer

Name
Patrick Jacobson-schulte
Title
Vice President for Finance
Phone
7122795504
Signed
2022-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachelle Keck
Formed
1963
Legal Domicile
Ia
Voting Board Members
18
Independent Board Members
17
Employees
495
Volunteers
25

Preparer

Firm
Baker Tilly US Llp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Loan loss and cancellations -87,876.

Financial Statement Notes

PART V, LINE 4:

Briar cliff university uses its endowment funds to provide grants and scholarships, as well as funds for program related activities.

PART X, LINE 2:

The internal revenue service has determined that the university is exempt from federal income tax under section 501(c)(3) of the internal revenue code. Accordingly, the university is not subject to federal income taxes except to the extent it derives income from certain activities not substantially related to its tax-exempt purposes (unrelated trade or business activities). The university is also exempt from state income taxes. At may 31, 2021 and 2020, the university had no current obligation for unrelated business income tax. 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 may 31, 2021 and 2020. The university's tax returns are subject to review and examination by federal and state authorities.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 477,106.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Scholarships and grants 12,518,448. Loan loss and cancellations 87,876.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 477,106.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships and grants 12,518,448.

Raw XML AppendixShowing 400 of 849 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.

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IRS990/Desc0BRIAR CLIFF UNIVERSITY IS ACCREDITED AS A DEGREE-GRANTING INSTITUTION BY THE HIGHER LEARNING COMMISSION AND IS A MEMBER OF THE NORTH CENTRAL ASSOCIATION OF COLLEGES AND SCHOOLS. SINCE 1945, THE HIGHER LEARNING COMMISSION HAS GRANTED BRIAR CLIFF UNIVERSITY FULL ACCREDITATION. AS A FOUR YEAR LIBERAL ARTS INSTITUTION, BRIAR CLIFF UNIVERSITY OFFERS DOCTORATE, MASTERS AND BACCALAUREATE PROGRAMS IN 44 FIELDS OF STUDY, RESULTING IN OVER 25,000 CREDIT HOURS OF POST-SECONDARY EDUCATION. THE UNIVERSITY CURRENTLY SERVES A POPULATION OF OVER 1,200 STUDENTS FROM 42 STATES, ARMED FORCES POST OFFICE, PUERTO RICO, AND 14 FOREIGN COUNTRIES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT, BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1PROGRAM DIRECTOR, DPT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PROF. & ASST PROG DIRECTOR, DPT
IRS990/Form990PartVIISectionAGrp/TitleTxt3PROFESSOR, BUSINESS ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP ADMIN & FINANCE, BOARD TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5VP FOR ACADEMIC AFFAIRS
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IRS990/Form990PartVIISectionAGrp/TitleTxt7ASSITANT PROFESSOR, OCC
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