Civic Intelligence

MC Daniel College Inc.

990 • Fiscal year 2023 • EIN 52-0591694

Jun 01, 2022 to May 31, 2023 • Filed on Feb 14, 2024

2 College HillWestminster, MD 21157-4303

(410) 857-2218

Siviq Scores

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

Liabilities / Assets

44th percentile

0.23x

Higher debt load relative to assets than 44% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

45th percentile

0.41x

Higher debt load relative to revenue than 45% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

31st percentile

-1.7%

Higher net margin than 31% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

53rd percentile

$493,505

Higher top officer pay than 53% of similar nonprofits.

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

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

15th percentile

-3.2%

Faster asset growth than 15% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

32nd percentile

-3.2%

Faster revenue growth than 32% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Down

$228,894,809

Down $7,586,578 (-3.2%) from 2022

Net Assets

Down

$176,995,900

Down $2,244,251 (-1.3%) from 2022

Liabilities

Down

$51,898,909

Down $5,342,327 (-9.3%) from 2022

Revenue

Down

$127,413,498

Down $4,270,455 (-3.2%) from 2022

Expenses

Up

$129,570,108

Up $689,634 (+0.5%) from 2022

Net Income

Down

-$2,156,610

Down $4,960,089 (-177%) from 2022

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $196,635,061Liabilities 2010: $84,448,251Net Assets 2010: $112,186,8102010Assets 2011: $209,196,906Liabilities 2011: $83,457,126Net Assets 2011: $125,739,7802011Assets 2012: $203,569,463Liabilities 2012: $83,220,909Net Assets 2012: $120,348,5542012Assets 2013: $198,705,308Liabilities 2013: $68,015,855Net Assets 2013: $130,689,4532013Assets 2014: $210,308,630Liabilities 2014: $65,450,275Net Assets 2014: $144,858,3552014Assets 2015: $207,699,623Liabilities 2015: $63,581,633Net Assets 2015: $144,117,9902015Assets 2016: $201,376,145Liabilities 2016: $64,594,861Net Assets 2016: $136,781,2842016Assets 2017: $209,284,297Liabilities 2017: $62,933,160Net Assets 2017: $146,351,1372017Assets 2018: $217,345,854Liabilities 2018: $60,869,942Net Assets 2018: $156,475,9122018Assets 2019: $219,836,698Liabilities 2019: $62,535,446Net Assets 2019: $157,301,2522019Assets 2020: $217,534,229Liabilities 2020: $65,178,485Net Assets 2020: $152,355,7442020Assets 2021: $259,992,859Liabilities 2021: $63,376,965Net Assets 2021: $196,615,8942021Assets 2022: $236,481,387Liabilities 2022: $57,241,236Net Assets 2022: $179,240,1512022Assets 2023: $228,894,809Liabilities 2023: $51,898,909Net Assets 2023: $176,995,9002023Assets 2024: $247,790,413Liabilities 2024: $49,278,521Net Assets 2024: $198,511,8922024Assets 2025: $283,578,807Liabilities 2025: $49,128,807Net Assets 2025: $234,450,0002025

Highlighted filing

2023

Assets$228,894,809
Liabilities$51,898,909
Net Assets$176,995,900

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2010: $84,729,2972010Expenses 2011: $85,372,7172011Expenses 2012: $88,804,3612012Expenses 2013: $91,781,7102013Revenue 2014: $101,005,579Expenses 2014: $95,498,022Net Income 2014: $5,507,5572014Revenue 2015: $102,718,959Expenses 2015: $100,652,649Net Income 2015: $2,066,3102015Revenue 2016: $98,903,378Expenses 2016: $99,292,342Net Income 2016: -$388,9642016Revenue 2017: $99,326,928Expenses 2017: $100,997,164Net Income 2017: -$1,670,2362017Revenue 2018: $106,680,305Expenses 2018: $103,854,471Net Income 2018: $2,825,8342018Revenue 2019: $112,607,930Expenses 2019: $104,427,469Net Income 2019: $8,180,4612019Revenue 2020: $113,872,650Expenses 2020: $115,230,241Net Income 2020: -$1,357,5912020Revenue 2021: $122,423,493Expenses 2021: $120,249,523Net Income 2021: $2,173,9702021Revenue 2022: $131,683,953Expenses 2022: $128,880,474Net Income 2022: $2,803,4792022Revenue 2023: $127,413,498Expenses 2023: $129,570,108Net Income 2023: -$2,156,6102023Revenue 2024: $130,205,035Expenses 2024: $130,165,145Net Income 2024: $39,8902024Revenue 2025: $163,017,939Expenses 2025: $133,979,013Net Income 2025: $29,038,9262025

Highlighted filing

2023

Revenue$127,413,498
Expenses$129,570,108
Net Income-$2,156,610
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Feb 14, 2024
Return Version
2022v5.0
Gross Receipts
$144,293,121
Mission and Program Overview

Mission

Mcdaniel college is a diverse student-centered community committed to excellence in the liberal arts & sciences and professional studies with careful mentoring and attention to the individual. Mcdaniel changes lives. We challenge students to develop their unique potential with reason, imagination, and human concern, through flexible academic programs, collaborative and experiential learning, and global engagement, mcdaniel prepares students for successful lives of leadership, service, and social responsibility,

Students are the focus at mcdaniel and providing the ideal learning environment is our goal.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$81,704,712$78,993,897▼ $2,710,815
Investments Other Securities$58,953,815$57,310,161▼ $1,643,654
Land, Buildings, and Equipment, Net$59,085,547$56,732,206▼ $2,353,341
Savings and Temporary Cash Investments$27,891,432$27,644,874▼ $246,558
Accounts Receivable$1,009,645$810,747▼ $198,898
Investments Program Related$723,397$546,989▼ $176,408
Inventories for Sale or Use$380,238$455,944▲ $75,706
Prepaid Expenses and Deferred Charges$439,052$395,384▼ $43,668
Pledges and Grants Receivable$556,504$338,204▼ $218,300
Cash and Non-Interest-Bearing Accounts$20,053$12,057▼ $7,996
Total Assets$236,481,387$228,894,809▼ $7,586,578
Other Assets Total$5,716,992$5,654,346▼ $62,646
Liabilities
Tax Exempt Bond Liabilities$36,374,211$33,856,089▼ $2,518,122
Accounts Payable and Accrued Expenses$8,262,917$7,509,107▼ $753,810
Mortgage Notes Payable Secured by Investment Property$4,736,755$4,222,164▼ $514,591
Other Liabilities$4,862,812$3,852,546▼ $1,010,266
Deferred Revenue$3,004,541$2,459,003▼ $545,538
Total Liabilities$57,241,236$51,898,909▼ $5,342,327
Net Assets / Fund Balance
Net Assets With Donor Restrictions$122,841,151$119,599,900▼ $3,241,251
Net Assets Without Donor Restrictions$56,399,000$57,396,000▲ $997,000
Total Net Assets Fund Balance$179,240,151$176,995,900▼ $2,244,251
Total Liabilities and Net Assets / Fund Balance$236,481,387$228,894,809▼ $7,586,578

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$44,492,074$110,741,930$155,234,004
Equipment$3,945,800$12,675,712$16,621,512
Leasehold Improvements$1,849,914$7,520,861$9,370,775
Other Land Buildings$3,606,358$2,304,253$5,910,611
Land$2,838,060-$2,838,060
Other Securities$8,289,366--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$142,294,568$1,929,351▲ $2,284,221-$138,133,583
2021$170,051,196$1,252,325▼ $10,833,963$10,000,000$142,294,568
2020$127,144,128$1,521,082▲ $49,631,566-$170,051,196
2019$128,730,262$1,601,425▲ $4,439,782-$127,144,128
2018$130,900,426$4,212,697▲ $926,055-$128,730,262
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julianne JaskenPresidentFT$427,273$66,232$493,505
Janelle HolmboeVP Enrollment ManagementFT$237,523$59,409$296,932
Eric SimonVP Admin & FinanceFT$249,552$22,220$271,772
Dave SearsVP Institutional AdvancementFT$211,777$34,554$246,331
Rosa Rivera-hainajProvostFT$214,920$17,652$232,572
Lawrence JunkinSenior Avp of IaFT$170,618$17,053$187,671
Wendy MorrisProvostFT$152,459$28,536$180,995
Vickie MazerDean of Graduate & Prof StudiesFT$162,818$17,365$180,183
Adam HertzDirector of AthleticsFT$137,382$29,395$166,777
Carolyn SalazarAvp of DevelopmentFT$139,603$20,454$160,057
Elizabeth TowleDean of StudentsFT$137,710$16,152$153,862
Julie FisherTreasurerFT$125,323$21,783$147,106
Jennifer GlennonAvp of AdministrationFT$134,796$6,669$141,465
Kimberly a SeeleyAssistant TreasurerFT$104,670$13,799$118,469
Erin BeneventoSecretaryFT$75,984$12,790$88,774
Marissa LanderSecretaryFT$45,946$8,719$54,665
Katherine HollabaughAssistant SecretaryFT$31,781$16,983$48,764
Andrea PhillipsAssistant SecretaryFT$21,077$15,173$36,250

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark Management ServicesPhysical Plant1101 MARKET STREET, Philadelphia, PA 19107$4,040,741
Campus Works INCIt Services1767 LAKEWOOD RANCH BLVD 305, Bradenton, FL 34211$2,174,451
Cygnini LLCStudent Recruiting1516 KELLY STREET, Oceanside, CA 92054$394,925
Marshall Craft AssociatesArchitectural Design2031 CLIPPER PARK RD SUITE 105, Baltimore, MD 21211$270,656
David Scott RobertsonBuilding Contractor1312 SOMERSET CT, New Windsor, MD 21776$221,770
Revenue and Support

Revenue Composition

Contributions and Grants
$15,018,225
Program Service Revenue
$106,736,258
Investment Income
$5,242,483
Other Revenue
$416,532
All Other Contributions
$7,413,175
Change in Net Assets
$-2,156,610

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
Securities Publicly Traded11$230,513Nyse
Total Noncash Contributions11$230,513-

Audited Revenue Reconciliation

Revenue per Audited Statements
$127,674,421
Revenue Not Reported on Financial Statements
$-260,923
Revenue Not Reported on Form 990
$-57,856,866
Other Revenue Adjustments
$-260,923
Total Revenue per Audited Statements
$69,817,555
Total Revenue per Form 990
$127,413,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$55,974,358
Other Expenses$37,518,301
Salaries, Compensation, and Employee Benefits$36,077,449
Total Fundraising Expense$2,396,137
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$55,966,713--$55,966,713
Other Salaries and Wages$25,102,544$593,885$1,281,998$26,978,427
Fees for Services Other$8,895,054$122,795$204,956$9,222,805
Depreciation Depletion$6,078,920--$6,078,920
Other Employee Benefits$3,950,587$198,390$253,365$4,402,342
Office Expenses$3,743,959$17,223$49,026$3,810,208
Occupancy$2,403,967$20,525-$2,424,492
Payroll Taxes$1,733,022$67,768$109,899$1,910,689
Current Officers, Directors, Trustees, and Key Employees$423,335$1,230,171$181,771$1,835,277
Fees for Service Investment Mgmnt Fees-$1,794,867-$1,794,867
Advertising$1,740,320$14$51,870$1,792,204
Interest$1,659,250--$1,659,250
Other Expenses$830,239$213,046$20,069$1,063,354
All Other Expenses$767,766$251,514$18,171$1,037,451
Pension Plan Contributions$872,546$25,469$52,699$950,714
Insurance$806,139--$806,139
Travel$515,874$18,708$36,430$571,012
Conferences and Meetings$314,905$21,593$132,707$469,205
Information Technology$349,267$471$426$350,164
Fees for Services Management$191,574--$191,574
Fees for Services Legal-$123,011-$123,011
Fees for Services Accounting-$99,461-$99,461
Fees for Services Lobbying-$15,830-$15,830
Foreign Grants$7,645--$7,645
Total Functional Expenses$122,357,101$4,816,870$2,396,137$129,570,108

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$129,570,108
Total Expenses per Audited Statements$72,061,806
Expenses per Audited Statements$71,800,883
Expenses Not Reported on Financial Statements$57,769,225
Other Expense Adjustments$57,769,225
Expenses Not Reported on Form 990$260,923
International Activity

International Summary

Offices
0
Employees
0
Spending
$23,956,855

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,InvestmentsInternational Study Abroad00$12,206,640
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,InvestmentsInternational Study Abroad00$11,654,542
Europe (including Iceland & Greenland)Program Services-00$36,371
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Program Services-00$29,651
South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador,Program ServicesInternational Study Abroad00$29,651
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$13,632
Fundraising Gross Income$13,555
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$45,330$13,555$521$13,034
Total Events$45,330$13,555$13,632$-77
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accumulated Post Retirement Benefit Obligation$3,044,236
Refundable Advance From the U.s. Government$808,310

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Westminster Md2016-10-27$38,410,000Refinance or refund series 2000 and series 2006 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$43,507,194$43,149,565$8,610,000$357,629

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
No
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
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
Yes
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 first reviewed by the cfo and president. Once they have approved the form 990, it is posted to the board of directors' portal for review, the form 990 is part of the february 10, 2024 board meeting agenda, the form 990 is accepted at this meeting prior to filing.

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

Mcdaniel college has all trustees, key employees, and officers complete an annual disclosure statement for conflicts of interest, taxpayer has 100% participation with the completion of the statement, a list is compiled, reviewed and on file with the finance and president's office. Contracts and vendors are periodically reviewed and bids are obtained and reviewed with conflict of interest awareness. Any board member who has a possible conflict of interest does not vote on any matter related to the possible conflict, the minutes will reflect that a disclosure was made, that the member with the possible conflict abstained from voting, and that the member has not been included in the quorum. Family and business relationships are expressly mentioned as sources of potential conflicts in the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

The president (ceo) and president's council (vps/provost) compensation packages are reviewed annually by an executive compensation committee of the board, a comparison of compensation is made to the college and university personnel association's (cupa) administrative compensation survey to ensure the president's compensation package is within fair market value for the industry, performance evaluations are also reviewed, a recommendation is made to the executive committee of the board for approval of compensation packages. Other officers and key employees are reviewed by the president's council and comparisons are made to other colleges' comparable positions using cupa's annual survey data, local markets are also surveyed periodically, board level discussions on executive compensation are recorded in board minutes.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available by request at the following offices: financial services, president's, or development. Conflict of interest statements are available at the financial services office by request, form 990 is available by request to the financial services office or can be obtained online at guidestar.org.

Filing and Contact Details

Filer

Filer Name
Mcdaniel College Inc
EIN
52-0591694
Phone
4108572218
Address
2 COLLEGE HILL, WESTMINSTER, MD 21157-4303

Signing Officer

Name
Julianne Jasken
Title
President
Phone
4108572218
Signed
2024-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julianne Jasken
Formed
1867
Legal Domicile
Md
Voting Board Members
36
Independent Board Members
36
Employees
925
Volunteers
50

Preparer

Firm
Baker Tilly US Llp
Address
1570 FRUITVILLE PIKE SUITE 400, LANCASTER, PA 17601
Preparer
Kerri N Bogda CPA
Phone
7177404863
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Adjustment of actuarial liability annuities payable 218,905.

Financial Statement Notes

PART V, LINE 4:

The organization's endowment funds are intended to help provide affordable education to students by providing funds for financial aid and support for the operations of the college.

PART X, LINE 2:

The college accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined there were no tax uncertainties that met the recognition threshold at may 31, 2023 and 2022.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Investment expenses -1,794,867. Financial aid -55,974,358. Adjustment of actuarial liability annuities payable 218,905.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses -247,291. Special event expenses netted with revenue -13,632.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 247,291. Special event expenses netted with revenue 13,632.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 55,974,358. Investment expenses 1,794,867.

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IRS990/Form990PartVIISectionAGrp/PersonNm7RALPH O FRITH
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IRS990/Form990PartVIISectionAGrp/PersonNm29DOLORES J SNYDER
IRS990/Form990PartVIISectionAGrp/PersonNm30SUE STEVENSON
IRS990/Form990PartVIISectionAGrp/PersonNm31PATRICK STOKES
IRS990/Form990PartVIISectionAGrp/PersonNm32BARBARA A THOMAS

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$284$49.1$234$163$134$29.0
2024Detailed filing. Detailed filing data is available for this year.$248$49.3$199$130$130$0.04
2023Detailed filing. Detailed filing data is available for this year.$229$51.9$177$127$130$2.16
2022Detailed filing. Detailed filing data is available for this year.$236$57.2$179$132$129$2.80
2021Detailed filing. Detailed filing data is available for this year.$260$63.4$197$122$120$2.17
2020Detailed filing. Detailed filing data is available for this year.$218$65.2$152$114$115$1.36
2019Summary only. Only limited summary data is available for this year.$220$62.5$157$113$104$8.18
2018Detailed filing. Detailed filing data is available for this year.$217$60.9$156$107$104$2.83
2017Detailed filing. Detailed filing data is available for this year.$209$62.9$146$99.3$101$1.67
2016Detailed filing. Detailed filing data is available for this year.$201$64.6$137$98.9$99.3$0.39
2015Detailed filing. Detailed filing data is available for this year.$208$63.6$144$103$101$2.07
2014Detailed filing. Detailed filing data is available for this year.$210$65.5$145$101$95.5$5.51
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$199$68.0$131$91.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$204$83.2$120$88.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$209$83.5$126$85.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$197$84.4$112$84.7