Civic Intelligence

MID-Atlantic Region Commission on Higher Education

EIN 46-1548064 • 501(c)3 • Wilmington, DE

View Organization Page

Profile

The middle states commission on higher education (msche) promotes educational excellence through innovation across diverse institutions.

1007 N Orange St Fl4 166Wilmington, DE 19801

www.msche.org

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.04x

Higher debt load relative to assets than 23% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

20th percentile

0.08x

Higher debt load relative to revenue than 20% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

76th percentile

21%

Higher net margin than 76% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

86th percentile

$576,625

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

79th percentile

16%

Faster asset growth than 79% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

50th percentile

7.5%

Faster revenue growth than 50% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$21,685,271

Up $3,282,370 (+18%) from 2023

Liabilities

Up

$897,221

Up $133,272 (+17%) from 2023

Net Assets

Up

$20,788,050

Up $3,149,098 (+18%) from 2023

Operations
Liabilities / Revenue20th percentileNet Margin76th percentile

Revenue

Up

$11,136,614

Up $1,244,410 (+13%) from 2023

Expenses

Up

$9,347,783

Up $505,500 (+5.7%) from 2023

Net Income

Up

$1,788,831

Up $738,910 (+70%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth79th percentile

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

$30M$20M$10M$0Assets 2013: $12,433,876Liabilities 2013: $7,434,818Net Assets 2013: $4,999,0582013Assets 2014: $13,079,225Liabilities 2014: $7,301,963Net Assets 2014: $5,777,2622014Assets 2015: $13,736,278Liabilities 2015: $7,562,577Net Assets 2015: $6,173,7012015Assets 2016: $14,245,257Liabilities 2016: $7,661,859Net Assets 2016: $6,583,3982016Assets 2017: $14,443,505Liabilities 2017: $6,368,500Net Assets 2017: $8,075,0052017Assets 2018: $15,885,237Liabilities 2018: $7,036,666Net Assets 2018: $8,848,5712018Assets 2019: $15,186,715Liabilities 2019: $5,621,857Net Assets 2019: $9,564,8582019Assets 2020: $15,742,263Liabilities 2020: $5,979,029Net Assets 2020: $9,763,2342020Assets 2021: $18,836,061Liabilities 2021: $5,423,255Net Assets 2021: $13,412,8062021Assets 2022: $17,355,711Liabilities 2022: $1,218,689Net Assets 2022: $16,137,0222022Assets 2023: $18,402,901Liabilities 2023: $763,949Net Assets 2023: $17,638,9522023Assets 2024: $21,685,271Liabilities 2024: $897,221Net Assets 2024: $20,788,0502024

Highlighted filing

2024

Assets$21,685,271
Liabilities$897,221
Net Assets$20,788,050
Open 2024 Filing

Operations Trend

Revenue Growth50th percentile

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

$15M$10M$5.0M$0Revenue 2013: $7,029,315Expenses 2013: $2,084,092Net Income 2013: $4,945,2232013Revenue 2014: $6,280,490Expenses 2014: $5,968,028Net Income 2014: $312,4622014Revenue 2015: $7,186,560Expenses 2015: $6,908,610Net Income 2015: $277,9502015Revenue 2016: $7,678,653Expenses 2016: $7,094,358Net Income 2016: $584,2952016Revenue 2017: $8,972,791Expenses 2017: $7,534,439Net Income 2017: $1,438,3522017Revenue 2018: $9,106,119Expenses 2018: $8,367,016Net Income 2018: $739,1032018Revenue 2019: $9,469,569Expenses 2019: $8,676,432Net Income 2019: $793,1372019Revenue 2020: $9,900,643Expenses 2020: $9,665,735Net Income 2020: $234,9082020Revenue 2021: $11,432,683Expenses 2021: $7,493,191Net Income 2021: $3,939,4922021Revenue 2022: $12,036,917Expenses 2022: $7,975,046Net Income 2022: $4,061,8712022Revenue 2023: $9,892,204Expenses 2023: $8,842,283Net Income 2023: $1,049,9212023Revenue 2024: $11,136,614Expenses 2024: $9,347,783Net Income 2024: $1,788,8312024

Highlighted filing

2024

Revenue$11,136,614
Expenses$9,347,783
Net Income$1,788,831
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$21,685,271
Liabilities
$897,221
Net assets
$20,788,050
Revenue
$11,136,614
Expenses
$9,347,783
Net income
$1,788,831
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.7$0.90$20.8$11.1$9.35$1.79
2023Summary only. Only limited summary data is available for this year.$18.4$0.76$17.6$9.89$8.84$1.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.4$1.22$16.1$12.0$7.98$4.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.8$5.42$13.4$11.4$7.49$3.94
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$5.98$9.76$9.90$9.67$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.2$5.62$9.56$9.47$8.68$0.79
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.9$7.04$8.85$9.11$8.37$0.74
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$6.37$8.08$8.97$7.53$1.44
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.2$7.66$6.58$7.68$7.09$0.58
2015Detailed filing. Detailed filing data is available for this year.$13.7$7.56$6.17$7.19$6.91$0.28
2014Detailed filing. Detailed filing data is available for this year.$13.1$7.30$5.78$6.28$5.97$0.31
2013Summary only. Only limited summary data is available for this year.$12.4$7.43$5.00$7.03$2.08$4.95
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 14, 2025
Return Version
2023v6.0
Gross Receipts
$11,136,614
Mission and Program Overview

Mission

The middle states commission on higher education (msche) promotes educational excellence through innovation across diverse institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$7,640,783$9,344,252▲ $1,703,469
Investments Other Securities$6,592,279$7,526,021▲ $933,742
Investments in Publicly Traded Securities$2,395,745$3,012,439▲ $616,694
Accounts Receivable$453,152$801,819▲ $348,667
Land, Buildings, and Equipment, Net$928,966$728,325▼ $200,641
Prepaid Expenses and Deferred Charges$128,765$272,415▲ $143,650
Cash and Non-Interest-Bearing Accounts$263,211$0▼ $263,211
Total Assets$18,402,901$21,685,271▲ $3,282,370
Liabilities
Accounts Payable and Accrued Expenses$667,762$790,034▲ $122,272
Deferred Revenue$59,500$90,500▲ $31,000
Other Liabilities$36,687$16,687▼ $20,000
Total Liabilities$763,949$897,221▲ $133,272
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,138,952$20,288,050▲ $3,149,098
Net Assets With Donor Restrictions$500,000$500,000→ $0
Total Net Assets Fund Balance$17,638,952$20,788,050▲ $3,149,098
Total Liabilities and Net Assets / Fund Balance$18,402,901$21,685,271▲ $3,282,370

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$728,325$1,613,729$2,342,054
Other Securities$1,051,940--
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heather PerfettiPresidentFT$457,749$70,248$527,997
Idna CorbettSenior Vice President for Accreditation RelationsFT$246,590$53,382$299,972
Idna CorbettSenior Vice President for Accreditat-$246,590$53,382$299,972
Amy MosederVice President for Policy and Sr Policy AnalystFT$211,694$59,457$271,151
Amy MosederVice President for Policy and Sr Pol-$211,694$59,457$271,151
Sean MckitrickVice President for Institutional Field RelationsFT$196,568$60,745$257,313
Sean MckitrickVice President for Institutional Fie-$196,568$60,745$257,313
Tracey SchneiderSenior VP for Legal Affairs and General CounselFT$196,154$55,535$251,689
Tracey SchneiderSenior VP for Legal Affairs and Gene-$196,154$55,535$251,689
Kathie JeffriesVP for Finance & CFOFT$188,384$46,586$234,970
Stephen PuglieseFormer Sr VP & Chief of StaffFT$141,955$86,550$228,505
Melissa HardinLead Vice PresidentFT$178,526$46,026$224,552

Board Members and Trustees

NameTitle
Davie Jane GilmourChair
Katherine S Conway-turnerVice-chair
Ariel GuzmanCommissioner
Barbara Anne PrattCommissioner
Christopher KennyCommissioner
David RehmCommissioner
Gerald C KobylskiCommissioner
Havidan RodriguezCommissioner
Heather KellyCommissioner
James SunserCommissioner
Jonathan PeriCommissioner
Kimberly DavenportCommissioner
M Karen JoganCommissioner
Michael J FischerCommissioner
Olga Rodriguez De ArzolaCommissioner
Richard J Pinkowski JrCommissioner
Roberta Griffin TorianCommissioner
Scott SchaefferCommissioner
Steven M RoseCommissioner
Susan D LooneyCommissioner
Vuyokazi Memani-sedileCommissioner
Wayne FrederickCommissioner
Ola LaniyaCommissioner (eff 1/1/24)
Raphael Ramirez-riveraCommissioner (eff 4/1/24)
Ronald NowaczykCommissioner (eff 8/24/23)
Michael CollinsCommissioner (thru 1/1/24)
George SullivanCommissioner (thru 4/1/24)
Laurie CarterCommissioner (thru 8/24/23)
Valerie D LehrCorporate Secretary
Lloyd RickettsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Marriott Hotel ServicesConference Expenses1201 MARKET STREET, Philadelphia, PA 19107$436,372
AmericaneaglecomDatabase System2600 S RIVER ROAD, Des Plaines, IL 60018$296,691
Ballard SpahrLegal1735 MARKET STREET 51ST FLOOR, Philadelphia, PA 19103$231,538
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,213,732
Investment Income
$793,981
Other Revenue
$128,901
Change in Net Assets
$1,788,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,105,702
Revenue Not Reported on Financial Statements
$30,912
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$11,105,702
Total Revenue per Form 990
$11,136,614
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,899,649
Other Expenses$2,448,134
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,280,772$294,761-$4,575,533
Current Officers, Directors, Trustees, and Key Employees$531,249$241,721-$772,970
Other Employee Benefits$717,622$51,184-$768,806
Information Technology$576,941$21,675-$598,616
Pension Plan Contributions$383,280$24,276-$407,556
Payroll Taxes$339,634$35,150-$374,784
Office Expenses$304,997--$304,997
Depreciation Depletion$287,034--$287,034
Fees for Services Legal-$259,213-$259,213
Insurance$129,396--$129,396
Other Expenses$34,805$8,138-$42,943
Fees for Services Accounting-$22,575-$22,575
Total Functional Expenses$8,389,090$958,693$0$9,347,783

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,347,783
Total Expenses per Audited Statements$9,347,783
Total Expenses per Form 990$9,347,783
Expenses Not Reported on Financial Statements$0
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits Held$16,687
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

“The form 990 is reviewed and voted upon by the marche finance committee which consists of the corporate treasurer, a commissioner, and four other commissioners. The 990 is reviewed and a resolution adopted by the executive committee prior to filing. The marche executive leadership team and the vp for finance & cfo support the work of the committees.”

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

“The commission maintains conflict of interest policies for corporate actions, commission employees, and commission representatives. Each year, all commissioners and staff are provided with the conflicts of interest policies applicable to their role with the commission. Commissioners and staff are asked to disclose conflicts and sign disclosure statements pursuant to these policies. At regular intervals, the commission conducts a review of all conflict of interest policies and monitors conflicts of interest at all meetings of the commission.”

Form 990, Part VI, Section B, Line 15

“The executive committee serves as the compensation committee and reviews the compensation levels of other executives at comparable organizations. There is a written employment contract approved by the executive committee for the ceo. Evaluations of positions and salary are done with an outside firm to further evaluate compensation levels every two to three years.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents (by-laws) and conflict of interest policies are made available online at the website; financial statements are made available upon request and the website provides a link to the irs for the form 990.”

Filing and Contact Details

Filer

Filer Name
Mid-atlantic Region Commission on Higher
EIN
46-1548064
Phone
2672845024
Address
1007 N ORANGE ST FL4 166, WILMINGTON, DE 19801
Doing Business As
Middle States Comm on Higher Educat

Signing Officer

Name
Kathie Jeffries
Title
VP for Finance & CFO
Phone
2672845000
Signed
2025-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Heather Perfetti
Formed
2013
Legal Domicile
Pa
Voting Board Members
27
Independent Board Members
27
Employees
47
Volunteers
600

Preparer

Firm
Eisner Advisory Group LLC
Address
130 NORTH 18TH STREET SUITE 3000, PHILADELPHIA, PA 19103-2757
Preparer
Helen M Martin
Phone
2158818800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Employee retention tax credit 628,063.”

Financial Statement Notes

PART X, LINE 2:

“The internal revenue service ("irs") has classified the commission as exempt from federal income taxes under section 501(c)(3) of the internal revenue code ("code") and as an organization which is not a private foundation under section 509(a) of the code. U.s. Gaap requires management to evaluate tax positions taken and recognize a tax liability if the commission has taken an uncertain position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax positions taken by the commission, and has concluded that as of june 30, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The commission recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax related interest or penalties recorded for either of the years ended june 30, 2023 or 2022.”

Raw XML AppendixShowing 400 of 836 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
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsReceivableGrp/EOYAmt0801819
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION (MSCHE) PROMOTES EDUCATIONAL EXCELLENCE THROUGH INNOVATION ACROSS DIVERSE INSTITUTIONS.
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
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IRS990/BooksInCareOfDetail/PhoneNum02672845024
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01007 N ORANGE ST FL4166
IRS990/BooksInCareOfDetail/USAddress/CityNm0WILMINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0DE
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IRS990/ContractorCompensationGrp/ServicesDesc1DATABASE SYSTEM
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt5COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt6COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt7COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt8COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt9COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt10COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt11COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt12COMMISSIONER (EFF 1/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt13COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt14COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt15COMMISSIONER (EFF 8/24/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt16COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt17COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt18COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt19COMMISSIONER (EFF 4/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt20COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt21COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt22COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt23COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt24COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt25COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt26COMMISSIONER
IRS990/Form990PartVIISectionAGrp/TitleTxt27COMMISSIONER (THRU 8/24/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt28COMMISSIONER (THRU 1/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt29COMMISSIONER (THRU 4/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt30PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt31VP FOR FINANCE & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt32VICE PRESIDENT FOR INSTITUTIONAL FIELD RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt33SENIOR VICE PRESIDENT FOR ACCREDITATION RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt34VICE PRESIDENT FOR POLICY AND SR POLICY ANALYST
IRS990/Form990PartVIISectionAGrp/TitleTxt35SENIOR VP FOR LEGAL AFFAIRS AND GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt36LEAD VICE PRESIDENT
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