Civic Intelligence

Marshall B Ketchum University

EIN 95-1644593 • 501(c)3 • Fullerton, CA

Profile

To educate caring, inspired health care professionals who are prepared to deliver collaborative, patient-centric health care in an interprofessional environment.

2575 Yorba Linda BlvdFullerton, CA 92831

www.ketchum.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.39x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

1.00x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

54th percentile

5.8%

Higher net margin than 54% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

61st percentile

$600,333

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

38th percentile

3.1%

Faster asset growth than 38% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-1.7%

Faster revenue growth than 23% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$107,650,928

Up $2,767,994 (+2.6%) from 2022

Liabilities

Down

$44,891,181

Down $1,549,511 (-3.3%) from 2022

Net Assets

Up

$62,759,747

Up $4,317,505 (+7.4%) from 2022

Revenue

Up

$44,264,355

Up $1,698,127 (+4.0%) from 2022

Expenses

Up

$41,255,903

Up $860,281 (+2.1%) from 2022

Net Income

Up

$3,008,452

Up $837,846 (+39%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $65,135,418Liabilities 2010: $32,298,081Net Assets 2010: $32,837,3372010Assets 2011: $69,535,326Liabilities 2011: $31,935,388Net Assets 2011: $37,599,9382011Assets 2012: $69,112,139Liabilities 2012: $31,429,726Net Assets 2012: $37,682,4132012Assets 2013: $70,749,174Liabilities 2013: $30,566,186Net Assets 2013: $40,182,9882013Assets 2014: $74,227,166Liabilities 2014: $30,386,891Net Assets 2014: $43,840,2752014Assets 2015: $93,847,531Liabilities 2015: $52,286,263Net Assets 2015: $41,561,2682015Assets 2016: $95,077,081Liabilities 2016: $52,624,227Net Assets 2016: $42,452,8542016Assets 2017: $95,767,916Liabilities 2017: $51,278,601Net Assets 2017: $44,489,3152017Assets 2018: $94,710,971Liabilities 2018: $50,908,963Net Assets 2018: $43,802,0082018Assets 2019: $95,024,266Liabilities 2019: $50,957,275Net Assets 2019: $44,066,9912019Assets 2020: $96,735,688Liabilities 2020: $49,967,334Net Assets 2020: $46,768,3542020Assets 2021: $105,970,455Liabilities 2021: $46,589,025Net Assets 2021: $59,381,4302021Assets 2022: $104,882,934Liabilities 2022: $46,440,692Net Assets 2022: $58,442,2422022Assets 2023: $107,650,928Liabilities 2023: $44,891,181Net Assets 2023: $62,759,7472023

Highlighted filing

2023

Assets$107,650,928
Liabilities$44,891,181
Net Assets$62,759,747

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $19,292,5392010Expenses 2011: $20,179,3482011Expenses 2012: $21,919,5552012Revenue 2013: $21,901,296Expenses 2013: $21,390,834Net Income 2013: $510,4622013Revenue 2014: $22,110,863Expenses 2014: $21,716,985Net Income 2014: $393,8782014Revenue 2015: $24,197,795Expenses 2015: $25,822,633Net Income 2015: -$1,624,8382015Revenue 2016: $29,378,522Expenses 2016: $28,074,234Net Income 2016: $1,304,2882016Revenue 2017: $33,117,855Expenses 2017: $32,077,750Net Income 2017: $1,040,1052017Revenue 2018: $33,926,809Expenses 2018: $35,041,110Net Income 2018: -$1,114,3012018Revenue 2019: $37,247,945Expenses 2019: $36,610,645Net Income 2019: $637,3002019Revenue 2020: $42,456,242Expenses 2020: $39,186,694Net Income 2020: $3,269,5482020Revenue 2021: $47,583,305Expenses 2021: $39,415,280Net Income 2021: $8,168,0252021Revenue 2022: $42,566,228Expenses 2022: $40,395,622Net Income 2022: $2,170,6062022Revenue 2023: $44,264,355Expenses 2023: $41,255,903Net Income 2023: $3,008,4522023

Highlighted filing

2023

Revenue$44,264,355
Expenses$41,255,903
Net Income$3,008,452

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$108$44.9$62.8$44.3$41.3$3.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$46.4$58.4$42.6$40.4$2.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$46.6$59.4$47.6$39.4$8.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$96.7$50.0$46.8$42.5$39.2$3.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$95.0$51.0$44.1$37.2$36.6$0.64
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$94.7$50.9$43.8$33.9$35.0$1.11
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$95.8$51.3$44.5$33.1$32.1$1.04
2016Detailed filing. Detailed filing data is available for this year.$95.1$52.6$42.5$29.4$28.1$1.30
2015Detailed filing. Detailed filing data is available for this year.$93.8$52.3$41.6$24.2$25.8$1.62
2014Detailed filing. Detailed filing data is available for this year.$74.2$30.4$43.8$22.1$21.7$0.39
2013Summary only. Only limited summary data is available for this year.$70.7$30.6$40.2$21.9$21.4$0.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.1$31.4$37.7$21.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.5$31.9$37.6$20.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.1$32.3$32.8$19.3
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.2
Gross Receipts
$43,781,159
Mission and Program Overview

Mission

To educate caring, inspired health care professionals who are prepared to deliver collaborative, patient-centric health care in an interprofessional environment.

The mission of marshall b. Ketchum university is to educate caring, inspired health care professionals who are prepared to deliver collaborative, patient-centric healthcare in an interprofessional environment. Mbku is home to the southern california college of optometry, the school of pa studies, and the college of pharmacy. The southern california college of optometry confers a doctor of optometry and a master of science in vision science degree. The school of pa studies awards a master of medical sciences degree, and the college of pharmacy awards a doctor of pharmacy degree. Mbku owns and operates two healthcare centers: ketchum health in anaheim hills and the university eye center in los angeles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$47,218,181$45,203,517▼ $2,014,664
Savings and Temporary Cash Investments$24,409,478$24,151,952▼ $257,526
Investments in Publicly Traded Securities$20,138,445$20,162,128▲ $23,683
Cash and Non-Interest-Bearing Accounts$6,591,273$7,538,305▲ $947,032
Other Notes and Loans Receivable, Net$4,455,278$3,973,046▼ $482,232
Accounts Receivable$943,235$888,003▼ $55,232
Prepaid Expenses and Deferred Charges$463,370$781,871▲ $318,501
Pledges and Grants Receivable$857,653$728,597▼ $129,056
Inventories for Sale or Use$345,823$386,934▲ $41,111
Intangible Assets$226,926$226,926→ $0
Total Assets$105,970,455$104,882,934▼ $1,087,521
Other Assets Total$320,793$841,655▲ $520,862
Liabilities
Tax Exempt Bond Liabilities$25,600,000$28,505,000▲ $2,905,000
Accounts Payable and Accrued Expenses$5,438,628$5,370,431▼ $68,197
Mortgage Notes Payable Secured by Investment Property$6,877,750$4,564,878▼ $2,312,872
Other Liabilities$4,996,739$4,272,148▼ $724,591
Deferred Revenue$3,675,908$3,728,235▲ $52,327
Total Liabilities$46,589,025$46,440,692▼ $148,333
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$37,431,318$38,201,620▲ $770,302
Net Assets With Donor Restrictions$21,950,112$20,240,622▼ $1,709,490
Total Net Assets Fund Balance$59,381,430$58,442,242▼ $939,188
Total Liabilities and Net Assets / Fund Balance$105,970,455$104,882,934▼ $1,087,521

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,927,713$27,792,302$60,720,015
Equipment$5,288,826$14,892,545$20,181,371
Land$6,771,257-$6,771,257
Other Land Buildings$215,721-$215,721

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$23,694,542$228,876▼ $1,383,141$495,014$21,789,760
2020$23,489,448$291,697▲ $2,867,731$2,573,279$23,694,542
2019$23,988,090$190,061▼ $186,537$90,861$23,489,448
2018$24,209,240$87,539▲ $697,707$680,619$23,988,090
2017$23,634,869$173,184▲ $1,192,254$497,311$24,209,240
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Kevin AlexanderPresidentFT$354,714$255,519$610,233
Dr Edward FisherDean of PharmacyFT$305,662$45,964$351,626
Dr Jennifer CoyleDean of SccoFT$309,146$41,392$350,538
Dr Julie SchornackSr. VP & Chief of StaffFT$265,603$38,117$303,720
Mr Frank J ScottiSr. VP for Administration and Finance & CFOFT$260,286$33,740$294,026
Mr Frank J ScottiSr. VP for Administration and Financ-$252,973$41,053$294,026
Dr Judy OrtizVP for Academic AffairsFT$243,644$35,154$278,798
Dr Mark NakanoAssociate Dean of ClinicsFT$212,028$28,933$240,961
Dr Susan CotterProfessor, Vision TherapyFT$203,329$32,380$235,709
Dr Daniel MayTrustee-$83,565-$83,565
Mr Richard PriceChairman of the BoardPT$3,546-$3,546

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Certified Maintenance Services INCJanitorial/housekeeping Services13845 ALTON PARKWAY, Irvine, CA 92618$435,705
G & G Security INCSecurity Personel To Support Security Te1030 N MOUNTAIN AVE 157, Ontario, CA 91762$211,690
Lcs Constructors INCGeneral Contractor15205 ALTON PARKWAY, Irvine, CA 92618$158,134
Moss Adams LLPAuditor/tax Provider4747 EXECUTIVE DR SUITE 1300, San Diego, CA 92121$143,965
Ontario Refrigeration Services INCHvac Maintenance & Repairs635 S MOUNTAIN AVE, Ontario, CA 91762$113,514
Revenue and Support

Revenue Composition

Contributions and Grants
$2,723,293
Program Service Revenue
$38,403,234
Investment Income
$770,917
Other Revenue
$668,784
All Other Contributions
$727,709
Change in Net Assets
$2,170,606
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$27,511,873
Other Expenses$12,449,499
Total Fundraising Expense$643,274
Grants and Similar Amounts Paid$434,250
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$17,581,073$2,890,819$375,346$20,847,238
All Other Expenses$2,512,552--$2,512,552
Depreciation Depletion$2,099,531$389,641-$2,489,172
Other Employee Benefits$1,609,270$552,823$88,234$2,250,327
Pension Plan Contributions$1,590,436-$37,371$1,627,807
Payroll Taxes$1,061,966$409,867$22,345$1,494,178
Current Officers, Directors, Trustees, and Key Employees$83,565$1,208,758-$1,292,323
Occupancy$1,101,634$115,500$15,751$1,232,885
Information Technology$284,025$693,951-$977,976
Fees for Services Other$486,795$434,448$41,158$962,401
Interest-$827,084-$827,084
Insurance-$556,950-$556,950
Office Expenses$279,433$150,847$39,893$470,173
Grants to Domestic Individuals$434,250--$434,250
Conferences and Meetings$154,402$249,839$20,493$424,734
Advertising$3,559$115,128$464$119,151
Fees for Services Accounting-$119,125-$119,125
Other Expenses$59,698$332,650-$59,698
Fees for Service Investment Mgmnt Fees-$39,203-$39,203
Travel$30,362$5,241$2,219$37,822
Total Functional Expenses$30,660,474$9,091,874$643,274$40,395,622
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$112,604
Fundraising Gross Income$23,144
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$246,278$23,144$62,511$-39,367
Total Events$246,278$23,144$112,604$-89,460
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Advances for Student Loans$3,472,381
Annuities Payable$769,462
Operating Lease Liabilities$30,305

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Fullerton Public Financing Authority2021-09-15$33,221,377SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$33,221,377-$6,951,383$570,182

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
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 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 reviewed by management including the sr. Vp for administration and finance. Prior to submitting to the irs, the final form 990 is sent to the entire board of trustees.

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

A conflict of interest questionnaire is distributed to the board of directors to be completed annually. Upon the disclosure of any conflict of interest, the matter is discussed with the chairman of the board. If a person has a conflict of interest they are not allowed to vote on the transaction.

Form 990, Part VI, Section B, Line 15

University president salary is reviewed annually by the executive committee of the board of trustees. In addition, the president's contract is established and reviewed by the executive committee of the board of trustees. This process is documented and was last completed march 2021. Other officers and key employees salaries are determined and approved by the university president. Compensation is determined by using comparable data and independent compensation studies. This process is documented and was last completed february 2022.

Form 990, Part VI, Section C, Line 19

The organization makes its financial statements, governing documents, and conflict of interest policy available for public inspection upon request at the university's main office.

Filing and Contact Details

Filer

Filer Name
Marshall B Ketchum University
EIN
95-1644593
Phone
7144497400
Address
2575 YORBA LINDA BLVD, FULLERTON, CA 92831

Signing Officer

Name
Frank Scotti
Title
Sr VP Admin & Finance, CFO
Phone
7144497400
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kevin Alexander
Formed
1904
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
13
Employees
286
Volunteers
13

Preparer

Firm
Moss Adams Llp
Address
4747 EXECUTIVE DR SUITE 1300, SAN DIEGO, CA 92121
Preparer
Patricia J Mayer
Phone
8586271400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of annuities -122,355.

FORM 990, PART XII, LINE 2C:

The organization did not change its oversight or selection process for the audit of the financial statements.

Financial Statement Notes

PART III, LINE 4:

The library is an essential function of the educational process.

PART V, LINE 4:

The university has utilized investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. As a result, the endowment assets are invested in a manner that is intended to produce results that, over the long-term allow it to grow at a rate exceeding expected inflation. This is consistent with the university's objective to maintain the purchasing power of the endowment assets held in perpetuity, as well as, to provide additional real growth through new gifts and investment return.

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. Accordingly, the university is not subject to federal income taxes except to the extent it derives income from certain activities not substantially related to its tax-exempt purpose (unrelated business trade or business activities). The university is also exempt from state income taxes. 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 june 30, 2022 and 2021. The university's tax returns are subject to review and examination by federal and state authorities.

Raw XML AppendixShowing 400 of 977 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/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTHCARE IN AN INTERPROFESSIONAL ENVIRONMENT. MBKU IS HOME TO THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY, THE SCHOOL OF PA STUDIES, AND THE COLLEGE OF PHARMACY. THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY CONFERS A DOCTOR OF OPTOMETRY AND A MASTER OF SCIENCE IN VISION SCIENCE DEGREE. THE SCHOOL OF PA STUDIES AWARDS A MASTER OF MEDICAL SCIENCES DEGREE, AND THE COLLEGE OF PHARMACY AWARDS A DOCTOR OF PHARMACY DEGREE. MBKU OWNS AND OPERATES TWO HEALTHCARE CENTERS: KETCHUM HEALTH IN ANAHEIM HILLS AND THE UNIVERSITY EYE CENTER IN LOS ANGELES.
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IRS990/Desc0GRADUATE EDUCATION: THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTH CARE IN AN INTERPROFESSIONAL ENVIRONMENT, AND THE CURRICULUM HAS BEEN ESTABLISHED TO ACHIEVE THIS GOAL. IN ADDITION TO THE RIGOROUS ACADEMIC AND CLINICAL CURRICULUM ON CAMPUS, ALL PROFESSIONAL STUDENTS ROTATE THROUGH SEVERAL EXTERNAL CLINICAL SITES TO BROADEN AND DIVERSIFY THEIR LEARNING EXPERIENCES TO PREPARE THEM FOR CAREERS IN HEALTH CARE. IN THE FALL OF 2021, OUR TOTAL ENROLLMENT WAS 706 FULL-TIME HEALTH PROFESSIONAL STUDENTS REPRESENTING OPTOMETRY (400), PHYSICIAN ASSISTANT (PA) (121), PHARMACY (180), MASTER OF SCIENCE IN VISION SCIENCE (0), AND OUR INTERNATION PROGRAM OFFERING A MASTER OF SCIENCE IN CLINICAL OPTOMETRY (5). FOR THE 2021-22 ACADEMIC YEAR, WE GRADUATED 41 MEDICAL MASTER'S SCIENCE DEGREES AND PA CERTIFICATES, 104 DOCTOR OPTOMETRY DEGREES, 55 DOCTOR OF PHARMACY DEGREES, 6 MASTER OF SCIENCE IN VISION SCIENCE, AND 9 MASTER OF SCIENCE IN CLINICAL OPTOMETRY. THE ADMISSIONS PROCESS FOR FALL 2021 ENROLLMENT IS REPORTED BELOW. AT THE OUTSET OF THE APPLICATION PERIOD, THE ADMISSIONS POLICY COMMITTEES ESTABLISH STANDARDS FOR GPAS, APPLICATION TEST SCORES, IF APPLICABLE, AND ACADEMIC INDEX POINT MINIMUMS PROVIDING THRESHOLDS FOR ADMISSIONS PERSONNEL TO CAREFULLY SCREEN AND SELECT THE MOST QUALIFIED APPLICANTS TO INTERVIEW.PROGRAM: OPTOMETRY VERIFIED APPLICATIONS* 542 INTERVIEWS CONDUCTED 257 MATRICULATED CLASS 103 PROGRAM: PA VERIFIED APPLICATIONS* 1,936 INTERVIEWS CONDUCTED 176 MATRICULATED CLASS 40PROGRAM: PHARMACY VERIFIED APPLICATIONS* 244 INTERVIEWS CONDUCTED 222 MATRICULATED CLASS 35 *VERIFIED APPLICATIONS THROUGH THE CENTRALIZED APPLICATION SYSTEM(I.E., OPTOMCAS, CASPA, AND PHARMCAS).
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