Civic Intelligence

Pacific Lutheran University Inc.

990 • Fiscal year 2022 • EIN 91-0565571

Jun 01, 2021 to May 31, 2022 • Filed on Apr 15, 2023

Refreshing map…

12180 Park Ave STacoma, WA 98447

(253) 535-7104

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.32x

Higher debt load relative to assets than 52% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.58x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Net Margin

43rd percentile

2.5%

Higher net margin than 43% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

50th percentile

-3.0%

Faster asset growth than 50% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

30th percentile

-2.1%

Faster revenue growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Down

$282,361,466

Down $8,622,240 (-3.0%) from 2021

Net Assets

Down

$191,711,552

Down $5,944,503 (-3.0%) from 2021

Liabilities

Down

$90,649,914

Down $2,677,737 (-2.9%) from 2021

Revenue

Down

$156,152,250

Down $3,407,554 (-2.1%) from 2021

Expenses

Up

$152,290,640

Up $6,020,431 (+4.1%) from 2021

Net Income

Down

$3,861,610

Down $9,427,985 (-71%) from 2021

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

2022

Assets$282,361,466
Liabilities$90,649,914
Net Assets$191,711,552

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

2022

Revenue$156,152,250
Expenses$152,290,640
Net Income$3,861,610
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Apr 15, 2023
Return Version
2021v4.2
Gross Receipts
$180,199,891
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.

Plu purposefully integrates the liberal arts, professional studies and civic engagement through distinctive international programs and faculy mentored research opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$138,873,327$137,327,210▼ $1,546,117
Investments in Publicly Traded Securities$105,232,275$98,218,519▼ $7,013,756
Investments Other Securities$32,500,605$34,324,837▲ $1,824,232
Other Notes and Loans Receivable, Net$4,052,091$3,340,967▼ $711,124
Savings and Temporary Cash Investments$4,133,890$1,840,627▼ $2,293,263
Accounts Receivable$1,803,866$1,593,977▼ $209,889
Pledges and Grants Receivable$1,119,634$815,113▼ $304,521
Prepaid Expenses and Deferred Charges$168,474$670,080▲ $501,606
Inventories for Sale or Use$293,789$396,840▲ $103,051
Cash and Non-Interest-Bearing Accounts$20,900$21,000▲ $100
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$290,983,706$282,361,466▼ $8,622,240
Other Assets Total$2,784,855$3,812,296▲ $1,027,441
Liabilities
Tax Exempt Bond Liabilities$61,326,935$51,433,800▼ $9,893,135
Other Liabilities$18,626,045$15,825,771▼ $2,800,274
Accounts Payable and Accrued Expenses$12,734,402$12,788,552▲ $54,150
Mortgage Notes Payable Secured by Investment Property$72,026$8,472,993▲ $8,400,967
Escrow Account Liability$568,243$2,128,798▲ $1,560,555
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Total Liabilities$93,327,651$90,649,914▼ $2,677,737
Net Assets / Fund Balance
Net Assets With Donor Restrictions$117,294,055$112,288,552▼ $5,005,503
Net Assets Without Donor Restrictions$80,362,000$79,423,000▼ $939,000
Total Net Assets Fund Balance$197,656,055$191,711,552▼ $5,944,503
Total Liabilities and Net Assets / Fund Balance$290,983,706$282,361,466▼ $8,622,240

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$103,282,225$56,965,079$160,247,304
Other Land Buildings$5,293,872$7,191,245$12,485,117
Equipment$3,744,655$5,356,066$9,100,721
Leasehold Improvements$5,444,879$3,063,622$8,508,501
Land$19,561,579-$762,723
Other Securities$16,406,328--
Closely Held Equity Interests$1,861,370--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$130,061,356$4,073,630▼ $7,101,293$1,521,589$123,141,546
2020$100,857,262$5,653,386▲ $25,791,123$239,746$130,061,356
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
L Allan BeltonPresidentFT$323,128$52,130$375,258
Barbara HabermannDeanFT$201,787$20,931$222,718
Joanna GregsonProvostFT$202,106$17,795$219,901
Joanna Royce-davisVice PresidentFT$189,460$18,735$208,195
Daniel LeeVice PresidentFT$179,416$16,382$195,798
Theresa PhillipsChief Operating OfficerFT$164,785$15,705$180,490
Mark MulderDeanFT$154,772$18,256$173,028
Patrick GehringTreasurerFT$143,353$25,174$168,527
Karen McconnellAssociate Vice PresidentFT$131,229$36,583$167,812
Kathleen RichardsonAssociate DeanFT$149,166$9,486$158,652

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Ruffalo Noel Levitz LLCMgmt. Consulting1025 KIRKWOOD PKWY SW, Cedar Rapids, IA 52404$535,488
John Korsmo Construction INCConstruction1940 E D STREET, Tacoma, WA 98421$424,596
Sysco Food Services Of SeattleFood Service222820 54THE AVENUE S, Kent, WA 98032$347,286
JT Tech IncNetwork Integration905 W RIVERSIDE AVE SUITE 408, Spokane, WA 99201$320,164
ABSCO Alarms IncorporatedSystem Integration3400 188TH STREET SW SUITE 461, Lynnwood, WA 98037$319,615
Revenue and Support

Revenue Composition

Contributions and Grants
$17,862,063
Program Service Revenue
$133,948,832
Investment Income
$4,337,137
Other Revenue
$4,218
All Other Contributions
$10,646,697
Change in Net Assets
$3,861,610

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 Traded9$1,208,404Fair Market Value
Other Non Cash Contri Table1$10,091Fair Market Value
Total Noncash Contributions10$1,218,495-

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,947,645
Revenue Not Reported on Financial Statements
$66,204,605
Revenue Not Reported on Form 990
$-8,873,206
Other Revenue Adjustments
$66,204,605
Total Revenue per Audited Statements
$81,074,439
Total Revenue per Form 990
$156,152,250
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$65,047,649
Salaries, Compensation, and Employee Benefits$57,289,965
Other Expenses$29,953,026
Total Fundraising Expense$1,403,384
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$65,047,649--$65,047,649
Other Salaries and Wages$36,929,968$5,400,160$745,986$43,076,114
Other Employee Benefits$5,871,072$858,510$118,596$6,848,178
Depreciation Depletion$3,998,258$1,751,943-$5,750,201
Office Expenses$4,845,880$708,599$97,887$5,652,366
Fees for Services Other$3,305,416$483,341$66,769$3,855,526
Payroll Taxes$2,849,479$416,671$57,559$3,323,709
Pension Plan Contributions$2,477,302$362,249$50,042$2,889,593
Information Technology$2,398,980$350,796$48,459$2,798,235
Travel$2,151,058$314,543$43,451$2,509,052
Occupancy$2,104,443$307,727$42,510$2,454,680
Interest$1,425,222$208,406$28,789$1,662,417
Current Officers, Directors, Trustees, and Key Employees$987,949$144,465$19,957$1,152,371
Insurance$964,666$141,060$19,486$1,125,212
Advertising$710,920$103,956$14,361$829,237
Conferences and Meetings$619,551$90,595$12,515$722,661
All Other Expenses$467,633$68,382$9,446$545,461
Fees for Service Investment Mgmnt Fees-$180,869-$180,869
Fees for Services Accounting-$151,525-$151,525
Fees for Services Legal-$123,534-$123,534
Other Expenses$77,629$11,352$1,568$90,549
Total Functional Expenses$138,520,340$12,366,916$1,403,384$152,290,640

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$152,290,640
Expenses per Audited Statements$87,018,942
Total Expenses per Audited Statements$87,018,942
Expenses Not Reported on Financial Statements$65,271,698
Other Expense Adjustments$65,271,698
International Activity

International Summary

Offices
0
Employees
11
Spending
$752,458

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeProgram ServicesStudy Abroad02$278,939
Central America/CaribbeanInvestments-0-$211,558
North AmericaProgram ServicesStudy Abroad06$128,826
EuropeInvestments-0-$113,686
Central America/CaribbeanProgram ServicesStudy Abroad01$6,726
South AmericaProgram ServicesStudy Abroad00$4,797
Sub-Saharan AfricaProgram ServicesStudy Abroad02$3,965
East Asia and the PacificProgram ServicesStudy Abroad00$3,961
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
No
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
Annuitites Payable$7,986,097
Government Grants Refundable$4,855,585
Deposit Accounts$1,769,288
Retirement Obligation$1,214,801

Bond Issues

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

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$48,952,937$47,089,404$5,386,000$403,596
A$9,933,742$0$6,847,000$198,669

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
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 A, Line 1B

L. Allan belton is a paid employee of the organization and therefore is considered a non-independent board member.

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

The form 990 was prepared and reviewed by staff and an 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 15A & 15B

The president's compensation is reviewed, approved and noted in minutes annually by the governance committee of the board. All other positions are reviewed by supervisor. The director 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
In Care Of
% NATHAN P VAILENCOUR
Phone
2535357104
Address
12180 PARK AVE S, TACOMA, WA 98447
Doing Business As
Na

Signing Officer

Name
Patrick Gehring
Title
Treasurer
Phone
2535357119
Signed
2023-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allan Belton
Formed
1920
Legal Domicile
Wa
Voting Board Members
30
Independent Board Members
29
Employees
2,001
Volunteers
311

Preparer

Firm
Forvis Llp
Address
111 E Wayne St Suite 600, Fort Wayne, IN 46802
Preparer
Lauren R Denton
Phone
2604604000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

Change in value of trust $ -932,907 unrealized gain on interest rate swap $ 1,910,643 total $ 977,736

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.

Asc 740

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Part XI, Line 2D

Unrealized gain on interest rate swap $ 1,910,643

Part XI, Line 4B

Change in value of split interest agreements $ 932,907 endowment expense, net with revenue on books $ 224,049 scholarships and grants $65,047,649 total $66,204,605

Part XII, Line 4B

Endowment expense, net with revenue on books $ 224,049 scholarships and grants $65,047,649 total $65,271,698

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IRS990/Desc0ACADEMIC INSTRUCTION: PLU OFFERS 39 MAJORS AND 60 MINORS, AS WELL AS GRADUATE AND PROFESSIONAL PROGRAMS IN BUSINESS (MARKETING ANALYTICS AND BUSINESS ADMINISTRATION), CREATIVE WRITING, EDUCATION, MARRIAGE AND FAMILY THERAPY, KINESIOLOGY, AND NURSING. THE UNIVERSITY HELPS MORE THAN 2,600 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 2022-23 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; 53 PERCENT SELF-IDENTIFY AS STUDENTS OF COLOR; AND 37 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 MEDIALAB; 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. USNWR RECENTLY NAMED PLU AS THE THIRD BEST VALUE SCHOOL IN THE WEST REGION, AS WELL AS THE FIFTH BEST COLLEGE FOR VETERANS. THE UNIVERSITY HAS PRODUCED MORE THAN 108 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
2022Detailed filing. Detailed filing data is available for this year.$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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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