Civic Intelligence

Pacific Lutheran University Inc.

990 • Fiscal year 2020 • EIN 91-0565571

Jun 01, 2019 to May 31, 2020 • Filed on Apr 09, 2021

Refreshing map…

12180 Park Ave STacoma, WA 98447

(253) 535-7119

Siviq Scores

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

Liabilities / Assets

54th percentile

0.36x

Higher debt load relative to assets than 54% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

48th percentile

0.57x

Higher debt load relative to revenue than 48% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

35th percentile

0.6%

Higher net margin than 35% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$437,484

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

41st percentile

3.7%

Faster asset growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

51st percentile

2.0%

Faster revenue growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Assets

Up

$250,118,186

Up $9,018,922 (+3.7%) from 2019

Net Assets

Up

$160,651,681

Up $886,298 (+0.6%) from 2019

Liabilities

Up

$89,466,505

Up $8,132,624 (+10.0%) from 2019

Revenue

Up

$157,900,838

Up $3,024,775 (+2.0%) from 2019

Expenses

Down

$157,020,697

Down $1,504,667 (-0.9%) from 2019

Net Income

Up

$880,141

Up $4,529,442 (+124%) from 2019

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $248,452,936Liabilities 2011: $86,708,239Net Assets 2011: $161,744,6972011Assets 2012: $239,467,143Liabilities 2012: $85,232,889Net Assets 2012: $154,234,2542012Assets 2013: $244,376,714Liabilities 2013: $86,005,285Net Assets 2013: $158,371,4292013Assets 2014: $244,874,091Liabilities 2014: $84,399,029Net Assets 2014: $160,475,0622014Assets 2015: $253,195,273Liabilities 2015: $93,473,543Net Assets 2015: $159,721,7302015Assets 2016: $244,372,314Liabilities 2016: $89,527,702Net Assets 2016: $154,844,6122016Assets 2017: $250,076,705Liabilities 2017: $85,844,155Net Assets 2017: $164,232,5502017Assets 2018: $250,294,715Liabilities 2018: $83,905,781Net Assets 2018: $166,388,9342018Assets 2019: $241,099,264Liabilities 2019: $81,333,881Net Assets 2019: $159,765,3832019Assets 2020: $250,118,186Liabilities 2020: $89,466,505Net Assets 2020: $160,651,6812020Assets 2021: $290,983,706Liabilities 2021: $93,327,651Net Assets 2021: $197,656,0552021Assets 2022: $282,361,466Liabilities 2022: $90,649,914Net Assets 2022: $191,711,5522022Assets 2023: $273,406,035Liabilities 2023: $89,304,703Net Assets 2023: $184,101,3322023

Highlighted filing

2020

Assets$250,118,186
Liabilities$89,466,505
Net Assets$160,651,681

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2011: $135,754,2912011Expenses 2012: $141,729,8642012Revenue 2013: $142,020,739Expenses 2013: $146,326,818Net Income 2013: -$4,306,0792013Revenue 2014: $150,151,716Expenses 2014: $151,396,079Net Income 2014: -$1,244,3632014Revenue 2015: $152,446,050Expenses 2015: $149,769,327Net Income 2015: $2,676,7232015Revenue 2016: $148,796,163Expenses 2016: $154,418,670Net Income 2016: -$5,622,5072016Revenue 2017: $153,293,974Expenses 2017: $150,636,392Net Income 2017: $2,657,5822017Revenue 2018: $150,502,152Expenses 2018: $151,171,501Net Income 2018: -$669,3492018Revenue 2019: $154,876,063Expenses 2019: $158,525,364Net Income 2019: -$3,649,3012019Revenue 2020: $157,900,838Expenses 2020: $157,020,697Net Income 2020: $880,1412020Revenue 2021: $159,559,804Expenses 2021: $146,270,209Net Income 2021: $13,289,5952021Revenue 2022: $156,152,250Expenses 2022: $152,290,640Net Income 2022: $3,861,6102022Revenue 2023: $158,643,365Expenses 2023: $161,925,234Net Income 2023: -$3,281,8692023

Highlighted filing

2020

Revenue$157,900,838
Expenses$157,020,697
Net Income$880,141
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Apr 9, 2021
Return Version
2019v5.2
Gross Receipts
$202,013,181
Mission and Program Overview

Mission

Plu seeks to educate students for lives of thoughtful inquiry, service, leadership and care - for other people, for the community and for the earth.

Pacific lutheran university purposefully integrates the liberal arts, professional studies and civic engagement through distinctive international programs and faculty mentored research opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$128,568,289$136,908,286▲ $8,339,997
Investments in Publicly Traded Securities$67,229,298$72,423,837▲ $5,194,539
Investments Other Securities$26,292,879$23,924,063▼ $2,368,816
Other Notes and Loans Receivable, Net$6,020,788$4,701,753▼ $1,319,035
Savings and Temporary Cash Investments$3,382,966$3,864,222▲ $481,256
Accounts Receivable$3,212,399$3,357,615▲ $145,216
Pledges and Grants Receivable$1,961,826$1,434,745▼ $527,081
Prepaid Expenses and Deferred Charges$1,067,972$377,764▼ $690,208
Inventories for Sale or Use$336,385$341,874▲ $5,489
Cash and Non-Interest-Bearing Accounts$20,900$20,900→ $0
Total Assets$241,099,264$250,118,186▲ $9,018,922
Other Assets Total$3,005,562$2,763,127▼ $242,435
Liabilities
Tax Exempt Bond Liabilities$55,680,977$62,513,465▲ $6,832,488
Other Liabilities$16,437,697$16,593,759▲ $156,062
Accounts Payable and Accrued Expenses$8,207,744$8,526,196▲ $318,452
Deferred Revenue$0$1,255,685▲ $1,255,685
Escrow Account Liability$1,005,765$577,400▼ $428,365
Mortgage Notes Payable Secured by Investment Property$1,698$0▼ $1,698
Total Liabilities$81,333,881$89,466,505▲ $8,132,624
Net Assets / Fund Balance
Net Assets With Donor Restrictions$88,631,057$92,915,681▲ $4,284,624
Net Assets Without Donor Restrictions$71,134,326$67,736,000▼ $3,398,326
Total Net Assets Fund Balance$159,765,383$160,651,681▲ $886,298
Total Liabilities and Net Assets / Fund Balance$241,099,264$250,118,186▲ $9,018,922

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$110,105,144$67,591,562$177,696,706
Other Land Buildings$9,408,047$11,348,107$20,756,154
Equipment$4,088,580$12,893,074$16,981,654
Leasehold Improvements$1,755,388$2,009,575$3,764,963
Land$11,551,127-$762,723
Other Securities$8,873,623--
Closely Held Equity Interests$1,378,868--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$97,215,233$1,663,520▲ $6,053,232$1,511,274$100,857,262
2018$99,812,716$1,651,000▲ $1,580,000$3,343,716$97,215,233
2017$95,235,419$4,084,331▲ $6,393,280$3,329,671$99,812,716
2016$80,499,771$10,241,364▲ $8,396,228$1,435,360$95,235,419
2015$85,581,439$2,373,824▼ $2,054,389$2,749,633$80,499,771
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
L Allan BeltonPresidentFT$253,966$183,518$437,484
Joanna Royce-davisVice PresidentFT$160,663$59,573$220,236
Joanna GregsonProvostFT$185,469$32,023$217,492
Daniel LeeVice PresidentFT$151,814$58,512$210,326
Chung-shing LeeDeanFT$157,620$27,350$184,970
Jan LewisAssociate ProvostFT$153,012$24,913$177,925
Cameron BennettDeanFT$136,988$33,997$170,985
Theresa PhillipsChief Operating OfficerFT$144,229$24,840$169,069
Patrick GehringTreasurerFT$101,734$7,284$109,018

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Pease & Sons INCGeneral Contractor3815 100TH STREET SW SUITE 3A, Lakewood, WA 98499$812,383
John Korsmo Construction INCGeneral Contractor1940 E D ST STE 300, Tacoma, WA 98421$801,177
Westmark Construction INCGeneral Contractor6102 N 9TH ST STE 400, Tacoma, WA 98406$486,052
Mcgranahan Architects PsArchitect2111 PACIFIC AVE 110, Tacoma, WA 98402$391,786
Hurley Engineering Company Tacoma INCBoiler Service Company302 E 26TH ST, Tacoma, WA 98421$309,141
Revenue and Support

Revenue Composition

Contributions and Grants
$13,425,961
Program Service Revenue
$140,021,820
Investment Income
$3,651,444
Other Revenue
$801,613
All Other Contributions
$9,071,856
Change in Net Assets
$880,141

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 Traded18$259,271Fair Market Value
Other Non Cash Contri Table5$22,878Fair Market Value
Other Non Cash Contri Table9$3,506Fair Market Value
Other Non Cash Contri Table2$1,791Fair Market Value
Clothing and Household Goods-$950Fair Market Value
Works of Art2$500Fair Market Value
Collectibles1$150Fair Market Value
Food Inventory1$50Fair Market Value
Books and Publications-$40Fair Market Value
Total Noncash Contributions38$289,136-

Audited Revenue Reconciliation

Revenue per Audited Statements
$157,900,839
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-65,036,410
Total Revenue per Audited Statements
$92,864,429
Total Revenue per Form 990
$157,900,839
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$64,397,831
Salaries, Compensation, and Employee Benefits$61,495,000
Other Expenses$31,127,866
Total Fundraising Expense$2,740,954
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$64,397,831--$64,397,831
Other Salaries and Wages$37,255,041$7,235,555$1,700,753$46,191,349
Other Employee Benefits$5,905,745$1,109,594$243,685$7,259,024
Office Expenses$5,184,117$965,747$75,054$6,224,918
Depreciation Depletion$4,765,650$887,791$68,995$5,722,436
Travel$3,348,268$623,747$48,475$4,020,490
Pension Plan Contributions$2,953,069$497,600$102,884$3,553,553
Payroll Taxes$2,809,281$537,762$119,213$3,466,256
Fees for Services Other$2,820,259$477,692$59,067$3,357,018
Occupancy$2,237,901$416,897$32,399$2,687,197
Information Technology$2,156,516$401,736$31,221$2,589,473
Interest$1,596,213$297,358$23,109$1,916,680
Insurance$954,212$177,760$13,815$1,145,787
Current Officers, Directors, Trustees, and Key Employees$237,456$595,134$192,228$1,024,818
Conferences and Meetings$565,641$105,373$8,189$679,203
Advertising$470,621$87,672$6,813$565,106
All Other Expenses-$233,866-$233,866
Fees for Services Legal-$138,437-$138,437
Fees for Services Accounting-$104,671-$104,671
Fees for Service Investment Mgmnt Fees-$89,141-$89,141
Other Expenses$38,033$7,085$551$45,669
Total Functional Expenses$139,102,514$15,177,229$2,740,954$157,020,697

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$157,020,697
Expenses per Audited Statements$92,409,274
Total Expenses per Audited Statements$92,387,274
Expenses Not Reported on Financial Statements$64,611,423
Other Expense Adjustments$64,611,423
Expenses Not Reported on Form 990$-22,000
International Activity

International Summary

Offices
0
Employees
18
Spending
$1,590,266

International Compliance

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
Europe (including Iceland and Greenland)Program ServicesSTUDY ABROAD ACTIVITIES; ON SITE PROGRAM ADMINISTRATION01$585,459
Central America and the CaribbeanInvestments-00$256,932
East Asia and the PacificProgram ServicesSTUDY ABROAD ACTIVITIES; ON SITE PROGRAM ADMINISTRATION08$172,559
North America (canada and Mexico)Program ServicesSTUDY ABROAD ACTIVITIES; ON SITE PROGRAM ADMINISTRATION04$149,606
Europe (including Iceland and Greenland)Investments-00$124,777
Sub-saharan AfricaProgram ServicesSTUDY ABROAD ACTIVITIES; ON SITE PROGRAM ADMINISTRATION02$114,270
Central America and the CaribbeanProgram ServicesSTUDY ABROAD ACTIVITIES; ON SITE PROGRAM ADMINISTRATION03$113,834
South AmericaProgram ServicesStudy Abroad Activities00$71,134
Middle East and North AfricaProgram ServicesStudy Abroad Activities00$1,695
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
Government Grants Refundable$6,627,893
Annuities Payable$4,185,632
Deposit Accounts$2,910,753
Interest Rate Swap$1,639,779
Retirement Obligation$1,229,702

Bond Issues

BondIssuerIssuedIssue PricePurpose
AWashington Higher Education Facilities Authority2016-08-11$48,933,000REFUNDING
BWashington Higher Education Facilities Authority2014-07-09$9,933,742RENOVATION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$48,934,793$47,089,404$3,973,000$403,596
B$9,933,742--$198,669

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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
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
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 was prepared and reviewed by staff and external accounting firm. The form was then provided and reviewed by the entire board before it was filed with the irs.

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

Pacific lutheran university annually requires board members and key employees to complete conflict of interest surveys. Any conflicts are documented to ensure proper oversight. Board members with conflicts are required to recuse themselves from proceedings.

Form 990, Part VI, Section B, Line 15

The president's compensation is reviewed, approved and noted in minutes annually by a compensation committee of the board. All other positions are reviewed by an immediate supervisor. The associate vice president of human resources assembles and reviews comparable data from the industry.

Form 990, Part VI, Section C, Line 19

Financial statements are posted on plu's website and governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Pacific Lutheran University
EIN
91-0565571
Phone
2535357119
Address
12180 PARK AVE S, TACOMA, WA 98447
Doing Business As
Na

Signing Officer

Name
Patrick Gehring
Title
Treasurer
Phone
2535357119
Signed
2021-04-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allan Belton
Formed
1920
Legal Domicile
Wa
Voting Board Members
32
Independent Board Members
31
Employees
2,606
Volunteers
2,290

Preparer

Firm
Moss Adams Llp
Address
PO BOX 22650, YAKIMA, WA 98907-2650
Preparer
Colleen Ramires
Phone
5092487750
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of trust 513,286. Unrealized loss on interest rate swap -2,311,039.

Financial Statement Notes

PART III, LINE 4:

The university's collection consists of thorniley printing press, clavis scriptvrae sermons and commentaries on the writings of st. Augustine. These are held for education purposes which is the main exempt purpose of the university.

PART IV, LINE 2B:

Plu is the custodian of various agency, charitable remainder unitrust, and gift annuity funds, of which all or a portion is due to an outside party. Agency funds are held in plu's main bank account and charitable remainder unitrusts and gift annuities are invested with charles schwab.

PART V, LINE 4:

Intended uses of endowment funds: to fund scholarships, undergraduate research, equipment, lectures, athletic facilities, faculty positions, global education and other university programs as designated by our donors.

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. However, any unrelated business income may be subject to taxation. 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, 2020 and 2019.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split interest agreements 513,286. Prior period adjustments 203,000. Unrealized loss on interest rate swap -2,311,039. Scholarships and grants -64,397,831. Endowment expenses, net with revenue on books -213,592.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships and grants 64,397,831. Endowment expenses, net with revenue on books 213,592.

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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/Desc0ACADEMIC INSTRUCTION: PLU OFFERS 41 MAJORS AND 58 MINORS, AS WELL AS GRADUATE AND PROFESSIONAL PROGRAMS IN BUSINESS (FINANCE, MARKETING ANALYTICS, AND BUSINESS ADMINISTRATION), CREATIVE WRITING, EDUCATION, MARRIAGE AND FAMILY THERAPY, AND NURSING. THE UNIVERSITY HELPS MORE THAN 3,100 STUDENTS FROM ALL FAITHS AND BACKGROUNDS DISCERN THEIR VOCATIONS THROUGH COURSEWORK, MENTORSHIP AND INTERNSHIPS AT WORLD-CLASS PUGET SOUND-AREA BUSINESSES AND INSTITUTIONS. PLU SEEKS STUDENTS FROM EVERY POSSIBLE BACKGROUND, ALL RELIGIONS, ALL RACES, ALL SOCIOECONOMIC GROUPS, ALL SEXUAL ORIENTATIONS, ALL AGES, FROM ALL OVER THE WORLD. FOR THE 2019-20 ACADEMIC YEAR, 41 PERCENT OF INCOMING FIRST-YEAR STUDENTS ARE "FIRST GENERATION," COMING FROM FAMILIES WHERE NEITHER NATURAL NOR ADOPTIVE PARENTS RECEIVED A BACCALAUREATE DEGREE; 45 PERCENT SELF-IDENTIFY AS STUDENTS OF COLOR; AND 34 PERCENT ARE PELL GRANT-ELIGIBLE. THE FIRST AMERICAN UNIVERSITY TO HAVE STUDY AWAY CLASSES ON ALL SEVEN CONTINENTS SIMULTANEOUSLY, PLU ALSO IS THE FIRST PRIVATE UNIVERSITY ON THE WEST COAST TO RECEIVE THE PRESTIGIOUS SENATOR PAUL SIMON AWARD FOR CAMPUS INTERNATIONALIZATION. PLU HOSTS AN EMMY AWARD WINNING MEDIA LAB; A MACARTHUR AWARD-WINNING DETACHMENT OF ARMY ROTC; AND MORE THAN 80 CLUBS AND ACTIVITIES, INCLUDING 19 VARSITY ATHLETIC TEAMS IN THE NORTHWEST CONFERENCE OF NCAA DIVISION III. THE UNIVERSITY CONSISTENTLY RANKS AMONG THE TOP 20 IN U.S. NEWS & WORLD REPORT'S BEST UNIVERSITIES IN THE WEST AND USNWR RECENTLY NAMED PLU AS THE SEVENTH MOST INNOVATIVE SCHOOL, NINTH BEST UNDERGRADUATE TEACHING, AND TENTH BEST VALUE SCHOOL IN THE WEST REGION. THE UNIVERSITY HAS PRODUCED MORE THAN 106 FULBRIGHT SCHOLARS SINCE 1975.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$273$89.3$184$159$162$3.28
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$282$90.6$192$156$152$3.86
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$291$93.3$198$160$146$13.3
2020Detailed filing. Detailed filing data is available for this year.$250$89.5$161$158$157$0.88
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$241$81.3$160$155$159$3.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$250$83.9$166$151$151$0.67
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$250$85.8$164$153$151$2.66
2016Detailed filing. Detailed filing data is available for this year.$244$89.5$155$149$154$5.62
2015Detailed filing. Detailed filing data is available for this year.$253$93.5$160$152$150$2.68
2014Summary only. Only limited summary data is available for this year.$245$84.4$160$150$151$1.24
2013Summary only. Only limited summary data is available for this year.$244$86.0$158$142$146$4.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$239$85.2$154$142
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$248$86.7$162$136