Civic Intelligence

Mary Baldwin University

990 • Fiscal year 2017 • EIN 54-0506319

Jul 01, 2016 to Jun 30, 2017 • Filed on May 07, 2018

New Street And Frederick StreetStaunton, VA 24401

(540) 887-7000

Siviq Scores

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

Liabilities / Assets

51st percentile

0.31x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

58th percentile

0.55x

Higher debt load relative to revenue than 58% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

21st percentile

-4.1%

Higher net margin than 21% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$297,857

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

20th percentile

-1.0%

Faster asset growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

59th percentile

7.7%

Faster revenue growth than 59% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Down

$82,876,257

Down $850,924 (-1.0%) from 2016

Net Assets

Down

$57,439,069

Down $596,259 (-1.0%) from 2016

Liabilities

Down

$25,437,188

Down $254,665 (-1.0%) from 2016

Revenue

Up

$46,052,100

Up $3,308,474 (+7.7%) from 2016

Expenses

Up

$47,945,770

Up $4,165,946 (+9.5%) from 2016

Net Income

Down

-$1,893,670

Down $857,472 (-83%) from 2016

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $52,316,790Liabilities 2010: $18,477,449Net Assets 2010: $33,839,3412010Assets 2011: $56,774,122Liabilities 2011: $17,179,272Net Assets 2011: $39,594,8502011Assets 2012: $71,316,944Liabilities 2012: $16,576,010Net Assets 2012: $54,740,9342012Assets 2013: $76,308,078Liabilities 2013: $15,870,523Net Assets 2013: $60,437,5552013Assets 2014: $93,166,078Liabilities 2014: $29,581,637Net Assets 2014: $63,584,4412014Assets 2015: $87,881,559Liabilities 2015: $26,934,975Net Assets 2015: $60,946,5842015Assets 2016: $83,727,181Liabilities 2016: $25,691,853Net Assets 2016: $58,035,3282016Assets 2017: $82,876,257Liabilities 2017: $25,437,188Net Assets 2017: $57,439,0692017Assets 2018: $79,303,836Liabilities 2018: $23,859,250Net Assets 2018: $55,444,5862018Assets 2019: $72,233,975Liabilities 2019: $23,730,689Net Assets 2019: $48,503,2862019Assets 2020: $63,690,166Liabilities 2020: $22,946,732Net Assets 2020: $40,743,4342020Assets 2021: $71,020,083Liabilities 2021: $20,812,740Net Assets 2021: $50,207,3432021Assets 2022: $88,755,029Liabilities 2022: $25,548,290Net Assets 2022: $63,206,7392022Assets 2023: $86,535,808Liabilities 2023: $27,146,040Net Assets 2023: $59,389,7682023Assets 2024: $77,940,208Liabilities 2024: $25,187,602Net Assets 2024: $52,752,6062024

Highlighted filing

2017

Assets$82,876,257
Liabilities$25,437,188
Net Assets$57,439,069

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $37,611,5152010Expenses 2011: $35,852,6912011Expenses 2012: $38,693,3492012Expenses 2013: $39,161,7342013Revenue 2014: $39,664,639Expenses 2014: $40,254,952Net Income 2014: -$590,3132014Revenue 2015: $45,644,072Expenses 2015: $44,279,992Net Income 2015: $1,364,0802015Revenue 2016: $42,743,626Expenses 2016: $43,779,824Net Income 2016: -$1,036,1982016Revenue 2017: $46,052,100Expenses 2017: $47,945,770Net Income 2017: -$1,893,6702017Revenue 2018: $51,823,106Expenses 2018: $48,557,129Net Income 2018: $3,265,9772018Revenue 2019: $49,093,215Expenses 2019: $54,566,642Net Income 2019: -$5,473,4272019Revenue 2020: $55,719,348Expenses 2020: $63,554,637Net Income 2020: -$7,835,2892020Revenue 2021: $65,745,418Expenses 2021: $58,243,195Net Income 2021: $7,502,2232021Revenue 2022: $83,218,385Expenses 2022: $66,923,366Net Income 2022: $16,295,0192022Revenue 2023: $60,205,035Expenses 2023: $67,152,920Net Income 2023: -$6,947,8852023Revenue 2024: $56,662,332Expenses 2024: $66,070,655Net Income 2024: -$9,408,3232024

Highlighted filing

2017

Revenue$46,052,100
Expenses$47,945,770
Net Income-$1,893,670
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 7, 2018
Return Version
2016v3.0
Gross Receipts
$51,331,534
Mission and Program Overview

Mission

Mary Baldwin University empowers leaders to pursue lives of purpose in a changing world. As a distinctive small university committed to its rich heritage as an inclusive, women-centered liberal arts college, Mary Baldwin fulfills its mission by providing undergraduate, graduate, and professional education to a diverse population of women and men. It emphasizes high ethical standards and the development of critical, creative, and reflective reasoning as the foundation for fulfilling, engaged, and meaningful lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$36,206,693$34,611,324▼ $1,595,369
Investments in Publicly Traded Securities$24,503,067$24,803,582▲ $300,515
Investments Other Securities$11,111,631$12,702,666▲ $1,591,035
Savings and Temporary Cash Investments$3,788,944$3,468,355▼ $320,589
Pledges and Grants Receivable$4,719,609$3,439,550▼ $1,280,059
Accounts Receivable$985,283$1,344,047▲ $358,764
Other Notes and Loans Receivable, Net$1,205,873$1,071,133▼ $134,740
Intangible Assets$7,343$591,620▲ $584,277
Prepaid Expenses and Deferred Charges$744,474$386,840▼ $357,634
Inventories for Sale or Use$77,457$87,264▲ $9,807
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$83,727,181$82,876,257▼ $850,924
Other Assets Total$376,807$369,876▼ $6,931
Liabilities
Tax Exempt Bond Liabilities$20,591,248$19,297,420▼ $1,293,828
Deferred Revenue$1,877,866$2,192,905▲ $315,039
Accounts Payable and Accrued Expenses$1,493,555$1,701,398▲ $207,843
Unsecured Notes Loans Payable$808,723$1,347,083▲ $538,360
Grants Payable$881,964$879,446▼ $2,518
Other Liabilities$38,497$18,936▼ $19,561
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$25,691,853$25,437,188▼ $254,665
Net Assets / Fund Balance
Permanently Rstr Net Assets$36,092,439$36,839,220▲ $746,781
Unrestricted Net Assets$14,171,748$13,093,719▼ $1,078,029
Temporarily Rstr Net Assets$7,771,141$7,506,130▼ $265,011
Total Net Assets Fund Balance$58,035,328$57,439,069▼ $596,259
Total Liabilities and Net Assets / Fund Balance$83,727,181$82,876,257▼ $850,924

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,023,162$34,277,846$59,301,008
Equipment$3,934,506$10,998,636$14,933,142
Land$4,149,381-$4,149,381
Other Land Buildings$1,504,275$1,700,371$3,204,646
Leasehold Improvements$0$0$0
Other Securities$2,972,316--
Closely Held Equity Interests$0--
Financial Derivatives$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$36,916,666$763,073▲ $2,790,215$976,610$38,719,954
2015$38,877,948$495,082▼ $706,364$976,855$36,916,666
2014$39,378,690$579,426▲ $669,835$978,681$38,877,951
2013$36,072,543$663,327▲ $4,292,820$925,034$39,378,690
2012$33,445,291$1,092,686▲ $3,159,566$892,793$36,072,543
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Pamela FoxPresidentFT$263,252$134,605$397,857
David MowenExec VP for Finance & AdministrationFT$161,204$69,483$230,687
Sherri MylottVP for Institutional AdvancementFT$174,542$37,842$212,384
Linda Seestedt-StanfordVP for College of Health SciencesFT$170,177$13,530$183,707
Rachel PotterDean of the College of EducationFT$131,199$12,051$143,250
Lois WilliamsVP of Enrollment ManagementFT$130,053$12,698$142,751
David PaulkFounding Director of Phys Asst ProgramFT$121,756$16,357$138,113
Lisa ShoafFounding Director of the Doctoral Program in PTFT$126,269$10,269$136,538
Robert KlonoskiAdjunct FacultyFT$110,009$14,001$124,010
Catherine O'ConnellFormer VP of Academic AffairsFT$88,642$14,996$103,638

Highest Paid Contractors

ContractorServicesLocationCompensation
ChartwellsFood Service ManagementPO Box 91337, Chicago, IL 60693$1,031,657
Whiteboard CommunicationsRecruitment Services30 Clipper Rd, Conshohock, PA 19428$396,300
KJellstrom & Lee ConstructionConstruction Contractor1607 Ownby Lane, Richmond, VA 23220$319,117
JenzabarERP Implementation & Maint ContractPO Box 55018, Boston, MA 02205$299,466
AramarkFacilities Management24818 Network Place, Chicago, IL 60673$265,036
Revenue and Support

Revenue Composition

Contributions and Grants
$3,994,226
Program Service Revenue
$39,850,015
Investment Income
$2,084,018
Other Revenue
$123,841
All Other Contributions
$3,450,032
Change in Net Assets
$-1,893,670

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 Traded33$972,843Fair Market Value (FMV)
Works of Art1$120,000Fair Market Value (FMV)
Other Non Cash Contri Table14$87Fair Market Value (FMV)
Total Noncash Contributions48$1,092,930-

Audited Revenue Reconciliation

Revenue per Audited Statements
$46,052,100
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-11,100,047
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$34,952,053
Total Revenue per Form 990
$46,052,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,567,318
Other Expenses$13,980,994
Grants and Similar Amounts Paid$12,397,458
Total Fundraising Expense$1,205,507
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,963,849$1,967,767$381,792$16,313,408
Grants to Domestic Individuals$12,397,458--$12,397,458
Depreciation Depletion$2,303,220$241,502$0$2,544,722
Fees for Services Other$1,433,239$913,301$136,276$2,482,816
Other Employee Benefits$1,887,464$413,942$83,141$2,384,547
Occupancy$1,821,483$279,907$0$2,101,390
All Other Expenses$744,528$692,051$43,330$1,479,909
Current Officers, Directors, Trustees, and Key Employees$0$1,035,576$291,416$1,326,992
Payroll Taxes$914,381$176,652$34,812$1,125,845
Interest$686,404$59,964$0$746,368
Office Expenses$569,568$108,219$12,151$689,938
Travel$464,962$103,184$58,932$627,078
Advertising$400,637$21,812$0$422,449
Pension Plan Contributions$306,230$90,100$20,196$416,526
Other Expenses$68,721$300,773$0$369,494
Fees for Services Management$313,235$0$0$313,235
Insurance$335$151,273$0$151,608
Fees for Services Legal$0$86,481$0$86,481
Total Functional Expenses$39,380,779$7,359,484$1,205,507$47,945,770

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$47,945,770
Total Expenses per Form 990$47,945,770
Total Expenses per Audited Statements$35,548,312
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Expenses Not Reported on Form 990$-12,397,458
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Life Income and Annuity Funds$18,936

Bond Issues

BondIssuerIssuedIssue PricePurpose
AVirginia Small Business Financing Auth2005-12-01$11,345,000Industrial Development Auth (IDA)
BVirginia Small Business Financing Auth2009-10-01$4,510,000Industrial Development Auth

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,345,000$11,345,000$0$22,415
B$3,386,000$3,386,000$0$30,845

Bond Financing Compliance

No rebate due
No
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The management of the facilities and the food service area are under the direct supervision of the exec vp for finance and administration and are performed by a management company.

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

The form 990 and all supporting schedules and statements are provided to the board electronically before the return is filed.

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

Board members are required to complete a conflict of interest certification each year. These certifications are reviewed by the president and the chair of the board of trustees for compliance.

Form 990, Part VI, Section B, Line 15

The president's compensation is determined by the board of trustees. The board is provided with compensation surveys and data collected from other institutions that share the university's budget levels and planning goals. The deliberation and approval of the key employee's salaries are documented.

Form 990, Part VI, Section C, Line 19

Mary baldwin university's irs form 990 is available to the public on guide-star. The governing documents, conflict of interest policy and financial statements of the university are available upon request. Each request will be evaluated on an individual basis for merit.

Filing and Contact Details

Filer

Filer Name
Mary Baldwin University
EIN
54-0506319
Phone
5408877000
Address
NEW STREET AND FREDERICK STREET, STAUNTON, VA 24401

Signing Officer

Name
David B Mowen
Title
Exec VP for Finance & Administratio
Phone
5408877370
Signed
2018-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David B Mowen
Formed
1842
Legal Domicile
Va
Voting Board Members
35
Independent Board Members
35
Employees
944
Volunteers
0

Preparer

Firm
Brown Edwards & Company LLP
Address
1715 Pratt Drive Suite 2700, Blacksubrg, VA 24060
Preparer
Mark Woolwine
Phone
5404433606
Supplemental Narrative

Financial Statement Notes

Schedule D, Part III, Line 4

The university owns a limited number of moderately valuable items of art that are displayed throughout the campus. These items are used as an example of styles and period art in furtherance of the university's fine arts program.

Schedule D, Part V, Line 4

The principal will be held in perpetuity and the income and gains will be spent to support the restricted purpose.

Schedule D, Part XI, Line 2D

Student financial aid and the change in value of split interest agreements.

Schedule D, Part XII, Line 2D

STUDENT FINANCIAL AID

Raw XML AppendixShowing 400 of 1,300 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/Desc0SCHOLARSHIPS AND FELLOWSHIPS - THE UNIVERSITY AWARDED APPROXIMATELY 963 STUDENTS FINANCIAL AID ASSISTANCE THROUGH INSTITUTIONAL MEANS. FINANCIAL AID IS FUNDED BY FEDERAL, STATE, PRIVATE AND INSTITUTIONAL MEANS.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Jane Harding Miller
IRS990/Form990PartVIISectionAGrp/PersonNm1M Sue Whitlock
IRS990/Form990PartVIISectionAGrp/PersonNm2Marie A Westbrook
IRS990/Form990PartVIISectionAGrp/PersonNm3Maria Cerminara Acar
IRS990/Form990PartVIISectionAGrp/PersonNm4Jeffrey R Ash
IRS990/Form990PartVIISectionAGrp/PersonNm5Karen Bailey-Chapman
IRS990/Form990PartVIISectionAGrp/PersonNm6Annabel E Barber
IRS990/Form990PartVIISectionAGrp/PersonNm7Thomas Bryan Barton
IRS990/Form990PartVIISectionAGrp/PersonNm8Tracy Lolita Burks
IRS990/Form990PartVIISectionAGrp/PersonNm9Kamala Payne Chapman
IRS990/Form990PartVIISectionAGrp/PersonNm10Margaret Wren de St Aubin
IRS990/Form990PartVIISectionAGrp/PersonNm11Nancy Mayer Dunbar
IRS990/Form990PartVIISectionAGrp/PersonNm12Sarah A Flanagan
IRS990/Form990PartVIISectionAGrp/PersonNm13Helen Forster
IRS990/Form990PartVIISectionAGrp/PersonNm14Sarah Francisco
IRS990/Form990PartVIISectionAGrp/PersonNm15Betsy Freund
IRS990/Form990PartVIISectionAGrp/PersonNm16Pamela Gibbs
IRS990/Form990PartVIISectionAGrp/PersonNm17Peter Gwaltney
IRS990/Form990PartVIISectionAGrp/PersonNm18Susan Hobbs
IRS990/Form990PartVIISectionAGrp/PersonNm19Christy Howell
IRS990/Form990PartVIISectionAGrp/PersonNm20Alison Kaufmann
IRS990/Form990PartVIISectionAGrp/PersonNm21Lowell Lemons
IRS990/Form990PartVIISectionAGrp/PersonNm22Theresa C Lewis
IRS990/Form990PartVIISectionAGrp/PersonNm23James D Lott
IRS990/Form990PartVIISectionAGrp/PersonNm24Gabrielle McCree
IRS990/Form990PartVIISectionAGrp/PersonNm25John A Nolde Jr
IRS990/Form990PartVIISectionAGrp/PersonNm26Susan Palmer
IRS990/Form990PartVIISectionAGrp/PersonNm27John Rogers
IRS990/Form990PartVIISectionAGrp/PersonNm28Florence Rutherford
IRS990/Form990PartVIISectionAGrp/PersonNm29Sherri Sharpe
IRS990/Form990PartVIISectionAGrp/PersonNm30Katherine L Smallwood
IRS990/Form990PartVIISectionAGrp/PersonNm31Trimble Bailey Spitzer
IRS990/Form990PartVIISectionAGrp/PersonNm32Jeanine Holmes Thomas
IRS990/Form990PartVIISectionAGrp/PersonNm33Harvey Westbrook Jr
IRS990/Form990PartVIISectionAGrp/PersonNm34Margaret Humphrey Worley
IRS990/Form990PartVIISectionAGrp/PersonNm35Pamela Fox
IRS990/Form990PartVIISectionAGrp/PersonNm36David Mowen
IRS990/Form990PartVIISectionAGrp/PersonNm37Sherri Mylott
IRS990/Form990PartVIISectionAGrp/PersonNm38Linda Seestedt-Stanford
IRS990/Form990PartVIISectionAGrp/PersonNm39Rachel Potter
IRS990/Form990PartVIISectionAGrp/PersonNm40Lois Williams
IRS990/Form990PartVIISectionAGrp/PersonNm41Lisa Shoaf
IRS990/Form990PartVIISectionAGrp/PersonNm42David Paulk
IRS990/Form990PartVIISectionAGrp/PersonNm43Robert Klonoski
IRS990/Form990PartVIISectionAGrp/PersonNm44Catherine O'Connell
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$77.9$25.2$52.8$56.7$66.1$9.41
2023Detailed filing. Detailed filing data is available for this year.$86.5$27.1$59.4$60.2$67.2$6.95
2022Detailed filing. Detailed filing data is available for this year.$88.8$25.5$63.2$83.2$66.9$16.3
2021Detailed filing. Detailed filing data is available for this year.$71.0$20.8$50.2$65.7$58.2$7.50
2020Detailed filing. Detailed filing data is available for this year.$63.7$22.9$40.7$55.7$63.6$7.84
2019Summary only. Only limited summary data is available for this year.$72.2$23.7$48.5$49.1$54.6$5.47
2018Detailed filing. Detailed filing data is available for this year.$79.3$23.9$55.4$51.8$48.6$3.27
2017Detailed filing. Detailed filing data is available for this year.$82.9$25.4$57.4$46.1$47.9$1.89
2016Detailed filing. Detailed filing data is available for this year.$83.7$25.7$58.0$42.7$43.8$1.04
2015Detailed filing. Detailed filing data is available for this year.$87.9$26.9$60.9$45.6$44.3$1.36
2014Detailed filing. Detailed filing data is available for this year.$93.2$29.6$63.6$39.7$40.3$0.59
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.3$15.9$60.4$39.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.3$16.6$54.7$38.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.8$17.2$39.6$35.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.3$18.5$33.8$37.6