Civic Intelligence

Pacific Lutheran University Inc.

990 • Fiscal year 2023 • EIN 91-0565571

Jun 01, 2022 to May 31, 2023 • Filed on Apr 15, 2024

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

54th percentile

0.33x

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

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.56x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

32nd percentile

-2.1%

Higher net margin than 32% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

39th percentile

$632,962

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

16th percentile

-3.2%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

1.6%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Flat

$273,406,035

Flat from 2023

Net Assets

Flat

$184,101,332

Flat from 2023

Liabilities

Flat

$89,304,703

Flat from 2023

Revenue

Flat

$158,643,365

Flat from 2023

Expenses

Flat

$161,925,234

Flat from 2023

Net Income

Flat

-$3,281,869

Flat from 2023

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: $184,101,3322023Assets 2023: $273,406,035Liabilities 2023: $89,304,703Net Assets 2023: $184,101,3322023

Highlighted filing

2023

Assets$273,406,035
Liabilities$89,304,703
Net Assets$184,101,332

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: -$3,281,8692023Revenue 2023: $158,643,365Expenses 2023: $161,925,234Net Income 2023: -$3,281,8692023

Highlighted filing

2023

Revenue$158,643,365
Expenses$161,925,234
Net Income-$3,281,869
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Apr 15, 2024
Return Version
2022v5.0
Gross Receipts
$227,930,820
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$137,327,210$133,513,948▼ $3,813,262
Investments in Publicly Traded Securities$98,218,519$80,601,686▼ $17,616,833
Investments Other Securities$34,324,837$43,559,518▲ $9,234,681
Savings and Temporary Cash Investments$1,840,627$3,837,582▲ $1,996,955
Other Notes and Loans Receivable, Net$3,340,967$2,640,683▼ $700,284
Accounts Receivable$1,593,977$2,226,640▲ $632,663
Pledges and Grants Receivable$815,113$1,211,912▲ $396,799
Prepaid Expenses and Deferred Charges$670,080$918,469▲ $248,389
Inventories for Sale or Use$396,840$489,598▲ $92,758
Cash and Non-Interest-Bearing Accounts$21,000$19,500▼ $1,500
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$282,361,466$273,406,035▼ $8,955,431
Other Assets Total$3,812,296$4,386,499▲ $574,203
Liabilities
Tax Exempt Bond Liabilities$51,433,800$49,973,430▼ $1,460,370
Other Liabilities$15,825,771$15,714,772▼ $110,999
Accounts Payable and Accrued Expenses$12,788,552$14,310,384▲ $1,521,832
Mortgage Notes Payable Secured by Investment Property$8,472,993$8,451,995▼ $20,998
Escrow Account Liability$2,128,798$854,122▼ $1,274,676
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Total Liabilities$90,649,914$89,304,703▼ $1,345,211
Net Assets / Fund Balance
Net Assets With Donor Restrictions$112,288,552$119,006,332▲ $6,717,780
Net Assets Without Donor Restrictions$79,423,000$65,095,000▼ $14,328,000
Total Net Assets Fund Balance$191,711,552$184,101,332▼ $7,610,220
Total Liabilities and Net Assets / Fund Balance$282,361,466$273,406,035▼ $8,955,431

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$100,345,716$60,108,738$160,454,454
Other Land Buildings$4,819,063$7,811,029$12,630,092
Equipment$3,752,545$5,327,994$9,080,539
Leasehold Improvements$5,107,195$1,763,493$6,870,688
Land$19,489,429-$762,723
Other Securities$15,352,311--
Closely Held Equity Interests$1,882,763--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$123,141,546$4,806,000▼ $7,434,000$1,148,949$117,676,546
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
L Allan BeltonPresidentFT$342,500$290,462$632,962
Joanna GregsonProvostFT$216,810$55,656$272,466
Barbara HabermannDean, School of NursingFT$203,621$63,836$267,457
Joanna Royce-davisVP, Student LifeFT$197,983$52,597$250,580
Daniel LeeVP, University RelationsFT$192,925$49,244$242,169
Theresa PhillipsChief Operating OfficerFT$168,800$45,148$213,948
David WardDean, College of HealthFT$169,887$31,316$201,203
Patrick GehringTreasurerFT$150,941$41,188$192,129
Bridget YadenAssociate ProvostFT$122,030$63,058$185,088
Ann AumanDean, College of NaturalFT$161,054$23,474$184,528

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sysco Food Services Of SeattleFood Service222820 54THE AVENUE S, Kent, WA 98032$513,620
US FoodsFood Service2204 70TH AVE E STE 100, Fife, WA 98424$496,425
Mcgranahan Architects PsArchitecture211 PACIFIC AVE STE 100, Tacoma, WA 98402$409,222
Ruffalo Noel Levitz LLCMgmt. Consulting1025 KIRKWOOD PKWY SW, Cedar Rapids, IA 52404$350,581
Ricoh USA INCSystem Integration70 VALLEY STREAM PKWY, Malvern, PA 19355$303,471
Revenue and Support

Revenue Composition

Contributions and Grants
$14,753,384
Program Service Revenue
$138,324,636
Investment Income
$6,180,802
Other Revenue
$-615,457
All Other Contributions
$9,989,337
Change in Net Assets
$-3,281,869

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 Traded5$111,467Fair Market Value
Clothing and Household Goods-$4,241Fair Market Value
Other Non Cash Contri Table10$1,446Fair Market Value
Total Noncash Contributions15$117,154-

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,282,848
Revenue Not Reported on Financial Statements
$69,360,517
Revenue Not Reported on Form 990
$-3,432,970
Other Revenue Adjustments
$69,360,517
Total Revenue per Audited Statements
$85,849,878
Total Revenue per Form 990
$158,643,365
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$68,186,198
Salaries, Compensation, and Employee Benefits$58,356,691
Other Expenses$35,382,345
Total Fundraising Expense$1,515,166
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$68,186,198--$68,186,198
Other Salaries and Wages$37,392,171$5,467,749$755,322$43,615,242
Office Expenses$5,505,089$804,993$111,203$6,421,285
Other Employee Benefits$5,503,528$804,765$111,171$6,419,464
Depreciation Depletion$4,009,296$1,756,780-$5,766,076
Fees for Services Other$3,970,321$580,569$80,201$4,631,091
Travel$3,181,879$465,277$64,274$3,711,430
Pension Plan Contributions$2,963,121$433,289$59,855$3,456,265
Payroll Taxes$2,900,060$424,067$58,581$3,382,708
All Other Expenses$2,475,126$361,931$49,998$2,887,055
Information Technology$2,230,736$326,194$45,061$2,601,991
Occupancy$2,174,355$317,950$43,922$2,536,227
Interest$1,385,330$202,573$27,984$1,615,887
Insurance$1,314,781$192,257$26,559$1,533,597
Current Officers, Directors, Trustees, and Key Employees$1,271,414$185,915$25,683$1,483,012
Conferences and Meetings$924,021$135,117$18,665$1,077,803
Advertising$648,265$94,794$13,095$756,154
Fees for Services Legal-$224,042-$224,042
Fees for Service Investment Mgmnt Fees-$172,906-$172,906
Other Expenses$92,571$13,536$1,870$107,977
Fees for Services Accounting-$84,500-$84,500
Total Functional Expenses$147,203,618$13,206,450$1,515,166$161,925,234

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$161,925,234
Expenses per Audited Statements$93,460,098
Total Expenses per Audited Statements$93,460,098
Expenses Not Reported on Financial Statements$68,465,136
Other Expense Adjustments$68,465,136
International Activity

International Summary

Offices
0
Employees
11
Spending
$4,415,110

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Investments-0-$3,673,960
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad02$334,709
Central America and the CaribbeanProgram ServicesStudy Abroad01$164,926
North AmericaProgram ServicesStudy Abroad06$109,892
Sub-Saharan AfricaProgram ServicesStudy Abroad02$71,787
Central America and the CaribbeanInvestments-0-$30,631
East Asia and the PacificProgram ServicesStudy Abroad00$27,047
South AmericaProgram ServicesStudy Abroad00$1,250
Middle East and North AfricaProgram ServicesStudy Abroad00$908
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$8,602,595
Government Grants Refundable$3,849,936
Deposit Accounts$1,986,697
Retirement Obligation$1,275,544

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$6,641,274$403,596
A$9,933,742$0$7,101,812$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, Line 1A

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
2024-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allan Belton
Formed
1920
Legal Domicile
Wa
Voting Board Members
28
Independent Board Members
27
Employees
2,160
Volunteers
485

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 $ -895,381 unrealized gain on interest rate swap $ 525,577 total $ -369,804

Financial Statement Notes

Part III, Line 4

The university's collection consists of thornily printing press, clavis scriptvrae sermons and commentaries on the writing 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 $ 525,577

Part XI, Line 4B

Change in value of split interest agreements $ 895,381 endowment expense, net with revenue on books $ 278,938 scholarships and grants $68,186,198 total $69,360,517

Part XII, Line 4B

Endowment expense, net with revenue on books $ 278,938 scholarships and grants $68,186,198 total $68,465,136

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IRS990/Desc0ACADEMIC INSTRUCTION: PLU OFFERS 40 MAJORS AND 60 MINORS, AS WELL AS GRADUATE AND PROFESSIONAL PROGRAMS IN BUSINESS (MARKETING ANALYTIC AND BUSINESS ADMINISTRATION), CREATIVE WRITING, EDUCATION, MARRIAGE AND FAMILY THERAPY, KINESIOLOGY, AND NURSING. THE UNIVERSITY HELPS MORE THAN 2,737 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 2023-24 ACADEMIC YEAR, 54 PERCENT OF INCOMING FIRST-YEAR STUDENTS ARE FIRST GENERATION, COMING FROM FAMILIES WHERE NEITHER NATURAL NOR ADOPTIVE PARENTS RECEIVED A BACCALAUREATE DEGREE; 54 PERCENT SELF-IDENTIFY AS STUDENTS OF COLOR; AND 40 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 18 VARSITY ATHLETIC TEAMS IN THE NORTHWEST CONFERENCE OF NCAA DIVISION III. THE UNIVERSITY CONSISTENTLY RANKS AMONG THE TOP 20 IN U.S. NEWS AND 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
2023Detailed filing. Detailed filing data is available for this year.$273$89.3$184$159$162$3.28
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
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