Civic Intelligence

Marshall B Ketchum University

990 • Fiscal year 2021 • EIN 95-1644593

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 04, 2022

2575 Yorba Linda BlvdFullerton, CA 92831

(714) 449-7400

Siviq Scores

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

Liabilities / Assets

66th percentile

0.44x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

73rd percentile

0.98x

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

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

64th percentile

17%

Higher net margin than 64% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

63rd percentile

$597,162

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

44th percentile

9.5%

Faster asset growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

53rd percentile

12%

Faster revenue growth than 53% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$105,970,455

Up $9,234,767 (+9.5%) from 2020

Net Assets

Up

$59,381,430

Up $12,613,076 (+27%) from 2020

Liabilities

Down

$46,589,025

Down $3,378,309 (-6.8%) from 2020

Revenue

Up

$47,583,305

Up $5,127,063 (+12%) from 2020

Expenses

Up

$39,415,280

Up $228,586 (+0.6%) from 2020

Net Income

Up

$8,168,025

Up $4,898,477 (+150%) from 2020

Historical Trend

Balance Sheet Trend

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

$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

2021

Assets$105,970,455
Liabilities$46,589,025
Net Assets$59,381,430

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$47,583,305
Expenses$39,415,280
Net Income$8,168,025
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 4, 2022
Return Version
2020v4.2
Gross Receipts
$55,080,287
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 health care in an interprofessional environment. Mbku is home to the southern california college of optometry, the school of pa studies and 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 pharamcy degree. Mbku owns and operates two health care centers: ketchum health in anaheim hills and los angeles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$48,954,299$47,218,181▼ $1,736,118
Savings and Temporary Cash Investments$11,076,209$24,409,478▲ $13,333,269
Investments in Publicly Traded Securities$21,629,672$20,138,445▼ $1,491,227
Cash and Non-Interest-Bearing Accounts$5,368,242$6,591,273▲ $1,223,031
Other Notes and Loans Receivable, Net$5,638,832$4,455,278▼ $1,183,554
Accounts Receivable$1,807,190$943,235▼ $863,955
Pledges and Grants Receivable$937,526$857,653▼ $79,873
Prepaid Expenses and Deferred Charges$221,150$463,370▲ $242,220
Inventories for Sale or Use$465,326$345,823▼ $119,503
Intangible Assets$226,926$226,926→ $0
Total Assets$96,735,688$105,970,455▲ $9,234,767
Other Assets Total$410,316$320,793▼ $89,523
Liabilities
Tax Exempt Bond Liabilities$25,600,000$25,600,000→ $0
Mortgage Notes Payable Secured by Investment Property$7,683,750$6,877,750▼ $806,000
Accounts Payable and Accrued Expenses$5,020,902$5,438,628▲ $417,726
Other Liabilities$7,022,394$4,996,739▼ $2,025,655
Unsecured Notes Loans Payable$3,967,260$0▼ $3,967,260
Deferred Revenue$673,028$3,675,908▲ $3,002,880
Total Liabilities$49,967,334$46,589,025▼ $3,378,309
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,574,140$37,431,318▲ $8,857,178
Net Assets With Donor Restrictions$18,194,214$21,950,112▲ $3,755,898
Total Net Assets Fund Balance$46,768,354$59,381,430▲ $12,613,076
Total Liabilities and Net Assets / Fund Balance$96,735,688$105,970,455▲ $9,234,767

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,412,636$26,045,802$60,458,438
Equipment$5,345,653$14,176,472$19,522,125
Land$6,771,257-$6,771,257
Other Land Buildings$688,635-$688,635

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$23,489,448$291,697▲ $2,867,731$73,278$26,194,543
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
2016$19,679,573$2,817,149▲ $1,400,084-$23,634,869
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Kevin AlexanderPresidentFT$347,871$249,291$597,162
Dr Jennifer CoyleDean of SccoFT$317,000$35,136$352,136
Dr Edward FisherDean of PharmacyFT$300,185$45,808$345,993
Dr Julie SchornackSr. VP & Chief of StaffFT$255,605$46,336$301,941
Mr Frank J ScottiSr. VP for Administration and Finance & CFOFT$248,107$38,732$286,839
Mr Frank J ScottiSr. VP for Administration and Financ-$247,207$39,632$286,839
Dr Judy OrtizVP for Academic AffairsFT$229,341$33,163$262,504
Dr Mark NakanoAssociate Dean of ClinicsFT$209,701$30,704$240,405
Dr Susan CotterProfessor, Vision TherapyFT$198,839$40,732$239,571
Dr Daniel MayTrustee-$80,884-$80,884
Mr Richard PriceChairman of the Board-$3,716-$3,716

Highest Paid Contractors

ContractorServicesLocationCompensation
Certified Maintenance Services INCJanitorial/housekeeping Services1900 EAST WARNER AVE 1-J, Santa Ana, CA 92705$273,082
Sincerus Solutions INCTemporary Staffing625 FAIR OAKS AVE SUITE 288, South Pasadena, CA 91030$139,974
Precision Security And Protective ServicSecurity Services27248 VALDERRAMA DRIVE, Valencia, CA 91381$136,583
Ontario Refrigeration Services INCHvac Maintenance & Repairs635 S MOUNTAIN AVENUE, Ontario, CA 91762$124,607
Mg MakoPainting Services14555 VALLEY VIEW AVENUE STE H, Santa Fe Springs, CA 90670$109,393
Revenue and Support

Revenue Composition

Contributions and Grants
$6,798,650
Program Service Revenue
$39,393,732
Investment Income
$394,629
Other Revenue
$996,294
All Other Contributions
$1,001,035
Change in Net Assets
$8,168,025
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$28,292,156
Other Expenses$10,704,424
Total Fundraising Expense$599,760
Grants and Similar Amounts Paid$418,700
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$17,550,334$3,825,429$372,917$21,748,680
Depreciation Depletion$2,274,945$422,195-$2,697,140
Other Employee Benefits$1,579,214$575,553$86,586$2,241,353
Pension Plan Contributions$1,514,558$25,581$31,870$1,572,009
Payroll Taxes$1,076,752$415,574$22,656$1,514,982
Interest-$1,308,797-$1,308,797
Information Technology$371,341$907,289-$1,278,630
Current Officers, Directors, Trustees, and Key Employees$80,884$1,134,248-$1,215,132
Occupancy$937,680$98,310$13,406$1,049,396
Fees for Services Other$439,766$392,476$37,184$869,426
All Other Expenses$592,402--$592,402
Insurance-$497,299-$497,299
Grants to Domestic Individuals$418,700--$418,700
Office Expenses$240,670$129,921$34,359$404,950
Other Expenses$332,738--$332,738
Fees for Services Accounting-$101,702-$101,702
Advertising$1,867$60,395$243$62,505
Fees for Services Legal-$32,879-$32,879
Fees for Service Investment Mgmnt Fees-$26,499-$26,499
Travel$7,369$1,272$539$9,180
Total Functional Expenses$28,860,101$9,955,419$599,760$39,415,280
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
Federal Advances for Student Loans$4,085,071
Annuities Payable$911,668

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Fullerton Public Financing Authority2015-01-23$25,536,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,536,000$6,327,149$1,160,000$512,000

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 board of trustees finance committee reviews and approves the form 990. Prior to submitting to 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. 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 2021.

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
2022-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kevin Alexander
Formed
1904
Legal Domicile
CA
Voting Board Members
21
Independent Board Members
20
Employees
279
Volunteers
20

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 344,093.

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, 2021 and 2020. The university's tax returns are subject to review and examination by federal and state authorities.

Raw XML AppendixShowing 400 of 1,010 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/ActivityOrMissionDesc0THE 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. MBKU IS HOME TO THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY, THE SCHOOL OF PA STUDIES AND 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 PHARAMCY DEGREE. MBKU OWNS AND OPERATES TWO HEALTH CARE CENTERS: KETCHUM HEALTH IN ANAHEIM HILLS AND 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 2020, OUR TOTAL ENROLLMENT WAS 759 FULLTIME HEALTH PROFESSIONAL STUDENTS REPRESENTING OPTOMETRY (412), PHYSICIAN ASSISTANT (PA) (122), PHARMACY (210), MASTER OF SCIENCE IN VISION SCIENCE (2) AND OUR INTERNATION PROGRAM OFFERING A MASTER OF SCIENCE IN CLINICAL OPTOMETRY (27).FOR THE 2020-21 ACADEMIC YEAR, WE GRADUATED 40 MEDICAL MASTER SCIENCE DEGREES AND PA CERTIFICATES, 98 DOCTOR OF OPTOMETRY DEGREES AND 47 DOCTOR OF PHARMACY DEGREES.ADMISSIONS PROCESS FOR FALL 2020 ENROLLMENT ARE REPORTED BELOW. AT THE OUTSET OF THE APPLICATION PERIOD, THE ADMISSIONS POLICY COMMITTEES ESTABLISH HIGH STANDARDS FOR GPAS, APPLICATION TEST SCORES AND ACADEMIC INDEX POINT MINIMUMS PROVIDING THRESHOLDS FOR ADMISSIONS PERSONNEL TO CAREFULLY SCREEN AND SELECT THE MOST QUALIFIED APPLICANTS TO INTERVIEW.PROGRAM: OPTOMETRYVERIFIED APPLICATIONS* 512INTERVIEWS CONDUCTED 281MATRICULATED CLASS 100PROGRAM: PAVERIFIED APPLICATIONS* 1,936INTERVIEWS CONDUCTED 175MATRICULATED CLASS 42PROGRAM: PHARMACYVERIFIED APPLICATIONS* 239INTERVIEWS CONDUCTED 140MATRICULATED CLASS 55*VERIFIED APPLICATIONS THROUGH THE CENTRALIZED APPLICATION SYSTEM(I.E., OPTOMCAS, CASPA, AND PHARMCAS).
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DEAN OF SCCO
IRS990/Form990PartVIISectionAGrp/TitleTxt2DEAN OF PHARMACY
IRS990/Form990PartVIISectionAGrp/TitleTxt3SR. VP & CHIEF OF STAFF
IRS990/Form990PartVIISectionAGrp/TitleTxt4SR. VP FOR ADMINISTRATION AND FINANCE & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt5VP FOR ACADEMIC AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt6ASSOCIATE DEAN OF CLINICS
IRS990/Form990PartVIISectionAGrp/TitleTxt7PROFESSOR, VISION THERAPY
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
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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.$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
2021Detailed filing. Detailed filing data is available for this year.$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